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Canada headed for recession

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Declining GDP in the fourth quarter of this year and the first quarter of 2009 will bring the Canadian economy into an official recession, UBS predicted Monday.
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9 responses // Canada headed for recession

  •  

    Really! You do know Canada is part of the world, right?
    The whole world will suffer from this financial mess.

    kennymotown
  •  

    What a incredible set of issues we all face ! By all.... I of course mean the World !

    Some years ago the financial woes that the US are going through now would have been even more disastrous on a world basis. The world importance of the US has however somewhat diminished and the financial power it brandished has weakened.

    In retrospect I thinkwe will see that as being a good thing. The Asian markets are alot closer to being where they need to be… than ever before. They can coast alot longer than North America thinks they can. Their internal demand is so strong that they are a hard economic motor to stop. This financial challenge will actually make them stronger in further attaining independence from traditional North American controls.

    This World financial Tornado has been preparing itself for a long time. Everyone has known that obvious world challenges would one day bring us to a halt.

    Petrol, fuel prices have choked our weak economies and have, incredibly enough, contributed to reducing initiatives for change. Most changes come through travel and communication. Alter an important factor like travel and you stifle boldness and creativity !

    To make matters worst, we have heard so much bad news about our planet and climate change that we quickly adopted the reduction of consumption. Instinctively most consumers have tightened their spending habits...and pretty well at the same time. Its not hard to understand that if you increase the cost of doing something by 20% it means you want to do less of it and also you have less to spend somewhere else !! Well …take a look around !!! You will recognize that percentage !! That is the immediate correction that will be needed ...then the consumer will stick out his head ...and will start spending when he gains confidence again !!

    The general consumer will come around ...there are real needs out there !! But watch out ...luxuries will take a real hit ....

    There are no quick fixes out there...plus don't forget ...you need to add in the normal insecurity that is created by the on-going power shifts that accompany political elections !

    We are already seeing major financial changes among the great institutions. Mergers are necessary....and this trend of going under one roof will also be observed in our social structures. Many will need to go back to their families and fewer households will be created in fact many more will break down.

    So ...what do we do ?? First off...we trust human nature. We are not self sufficient...so its not going to stop. But whatever we do ...as consumers …we must think on a longer-term about our purchasing decisions. And as businesses we need to find real solutions to the ecological print we are leaving behind. As societies, we must further merge our cultures. The barriers are too strong. All human beings have the same needs lets try to reduce the artificial boundaries that have been created to maintain the elite.

    Today, ideas cross borders, profits also and international corporations operate on all continents ! Our political structures have not adapted to the real social realities that are going on ! Internet communications software like Skype or Yahoo are allowing human beings to talk (cam) with each other and share ideas from all parts of the world ! Where do you think that will lead us ?? Well you know what ?? That's exactly where we need to go !! We need to think as a team !!!

    Don't forget ...if the sun were a golf ball ....the Earth would be a pin prick 12 feet away and bear in mind that its 23,45 degree tilt is what differentiates summer from winter ! Do … we… all… realize how our planet's equilibrium is precarious ??? Or how lucky we are to just be alive ???

    We first … need to share and respect each other and then …and only then …we will find real solutions !!

    liquidjam
  •  

    FUCK. why couldn't I of been born 20 years in the future.

    The turmoils we face are ridiculously man made and our current attitudes will not solve jack squat.

    Men who care aren't in power and and men who don't are! What is there to do.... but for revolution or some sort of extreme measure.

    keviar
  •  

    On the bright side, you won't get a whole bunch of Americans trying to apply for Canadian residency if McCain-Palin get the white house... things are about to get bad in a looot of places...

    Ichi
  •  

    well darn, just when I was starting to consider Canada my backup place of residence if the economy got too bad here in the U.S.

    tokyo_chic

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