Jeff Rubin Guru Says Global Economy On The Way Out

[Liberalman]

Jeff Rubin Guru Says Global Economy On The Way Out

Jeff Rubin former Chief Economist with CIBC World Markets and author of Why Your World Is About To Get A Whole Lot Smaller said on CBC’s Power and Politics hosted by Evan Solomon last night that as this recession continues more countries will abandon the global economy and concentrate on local and regional economies.

This means that more jobs will return to the different provinces and cities.

Originally when this global economy was being developed and implemented the thinking back then was that each country would specialize in one product or service and trade with one another. The problem with that idea was the people that did not work in that product or service group they would essentially have to be retrained.

The poorer countries would benefit from this model because they can sell their products to the world.

A lot of people have a hard time learning new information and some were too old for any company to rehire.

I have always said that the global economy model stopped working a long time ago.

As more local businesses outsourced their manufacturing to cheaper countries their displaced employees turned out to be their major competitors.

More Canadians would rather buy what this country produces because they know that because of stringent regulations they are getting a better quality and safe product.

Products manufactured in other countries have a higher recall rate than locally or regional produced ones.

Jeff Rubin has a higher prediction rate than other economists and eventually this will be a reality.

As for the poor countries once they get rid of their wars other nations can help them rebuild but not at the cost of our jobs.

 

[taxslave]

Jeff Rubin Guru Says Global Economy On The Way Out

Jeff Rubin former Chief Economist with CIBC World Markets and author of Why Your World Is About To Get A Whole Lot Smaller said on CBC’s Power and Politics hosted by Evan Solomon last night that as this recession continues more countries will abandon the global economy and concentrate on local and regional economies.

This means that more jobs will return to the different provinces and cities.

Originally when this global economy was being developed and implemented the thinking back then was that each country would specialize in one product or service and trade with one another. The problem with that idea was the people that did not work in that product or service group they would essentially have to be retrained.

The poorer countries would benefit from this model because they can sell their products to the world.

A lot of people have a hard time learning new information and some were too old for any company to rehire.

I have always said that the global economy model stopped working a long time ago.

As more local businesses outsourced their manufacturing to cheaper countries their displaced employees turned out to be their major competitors.

More Canadians would rather buy what this country produces because they know that because of stringent regulations they are getting a better quality and safe product.

Products manufactured in other countries have a higher recall rate than locally or regional produced ones.

Jeff Rubin has a higher prediction rate than other economists and eventually this will be a reality.

As for the poor countries once they get rid of their wars other nations can help them rebuild but not at the cost of our jobs.

There is much truth to this. A few years back Michel Walker from the Fraser Institute told us that Canada will change to a service based economy. I called him on it because most of us that work in resource industries have no desire to change diapers on old people from elsewhere for low pay and not everyone is interested in or capable of manipulating stock prices from their home computer instead of working for a living. After all someone has to produce the first dollar which service industries and government s simply recirculate.

 

[captain morgan]

Jeff Rubin Guru Says Global Economy On The Way Out

Jeff Rubin former Chief Economist with CIBC World Markets and author of Why Your World Is About To Get A Whole Lot Smaller said on CBC’s Power and Politics hosted by Evan Solomon last night that as this recession continues more countries will abandon the global economy and concentrate on local and regional economies.

Mr. Rubin has a notoriously poor record when it comes to generating predictions.

I followed (with amusement) when he was the senior economist at CIBC - at that time, he was adamant that oil would be at $250 USD by now; There is a reason that CIBC cut him loose.

 

[Liberalman]

Mr. Rubin has a notoriously poor record when it comes to generating predictions.

I followed (with amusement) when he was the senior economist at CIBC - at that time, he was adamant that oil would be at $250 USD by now; There is a reason that CIBC cut him loose.

If the recession didn’t hit and people didn’t lose their jobs which resulted in owning less cars and big plants closing down the price of oil would have been that high probably higher.

CIBC World Markets let him go because he refused to change his reports for a favourable one where the investors would put more money into the markets but Jeff seen the writing on the wall and a lot of investors lost their shirts.

There was also a power struggle for his job and from what I heard at the time is Jeff was being stabbed in the back on a regular bases from the new movers and the shakers still wet behind the ears.
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[Bar Sinister]

I wouldn't bet much on this. I know of very few economists who can predict anything more than a month in advance.

 

[AnnaG]

I wouldn't bet much on this. I know of very few economists who can predict anything more than a month in advance.

Yup. The big experts were predicting everything else but the latest economic crash.

 

[TenPenny]

If you took every economist in the world, laid them down end to end, they still wouldn't reach a consensus.

 

[Praxius]

Jeff Rubin Guru Says Global Economy On The Way Out

Jeff Rubin former Chief Economist with CIBC World Markets and author of Why Your World Is About To Get A Whole Lot Smaller said on CBC’s Power and Politics hosted by Evan Solomon last night that as this recession continues more countries will abandon the global economy and concentrate on local and regional economies.

Which I have been saying this whole time...... :roll:

This means that more jobs will return to the different provinces and cities.

Originally when this global economy was being developed and implemented the thinking back then was that each country would specialize in one product or service and trade with one another. The problem with that idea was the people that did not work in that product or service group they would essentially have to be retrained.

Exactly.... there's all kinds of wonderful jobs in the oil sands and auto or lumber industries, but not everybody in one country want to do those jobs.... but when they want to do something they're good at or enjoy, suddenly there's very little work for them in their own country because it's outsourced to other countries who can do it for cheaper or have an already good history/portfolio of work under their belts that they pretty much have a monopoly.

And then people wonder why so many from their country move to other countries..... which usually is explained by lack of jobs they specialize in or are paid far less then what they'd be paid elsewhere.

The poorer countries would benefit from this model because they can sell their products to the world.

A lot of people have a hard time learning new information and some were too old for any company to rehire.

I have always said that the global economy model stopped working a long time ago.

As more local businesses outsourced their manufacturing to cheaper countries their displaced employees turned out to be their major competitors.

More Canadians would rather buy what this country produces because they know that because of stringent regulations they are getting a better quality and safe product.

Products manufactured in other countries have a higher recall rate than locally or regional produced ones.

Jeff Rubin has a higher prediction rate than other economists and eventually this will be a reality..........

A reality I've been preaching about for years now...... but nobody wants to listen to lil old me ottytrain2:

I wouldn't bet much on this. I know of very few economists who can predict anything more than a month in advance.

Yet we have Global Warm'ongers trying to tell us what's going to happen 30-50 years from now and most seem to suddenly believe them...... I'd believe an economic prediction over an environmental prediction any day.

 

[coldstream]

Globalization has been an absolute and utter disaster.It is responsible for a vast impoverishment and squandering of the productive potential in the First World, and growth of desperate enslaved pools of labour working for subsistence wages in the Third World.

In fact the entire structure of Economic Liberalism.. Free Trade, Monetarism, Deregulation, Privatization.. has failed profoundly. It has failed both materially and morally.

That said, you only have to hear the droolings of fools like Stephen Harper, and frankly every other Western leader to realize that even the face of an impending calamity the tenets that somehow this is all going to work if we are patient is still the prevailing ethos.

In fact it has never worked, and it has been tried before.. and it will never work. The Free Trade debate goes back to 17th Century. But a very narrow and parasitic group of financiers and traders have bought the governments and media of the West now.. and they are not going to go without a fight.

 

[Bar Sinister]

Yet we have Global Warm'ongers trying to tell us what's going to happen 30-50 years from now and most seem to suddenly believe them...... I'd believe an economic prediction over an environmental prediction any day.

I don't think this thread is the place to discuss global warming, especially as there are already several threads do that. However, you should know that global warming science is a bit more substantial than the guesses of economists. What I have noted is that when it comes to economic trends for every "expert" who predicts one event there is another who predicts the opposite. You can trust economists all you want, but which one?