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| Question on Canadian recession | |
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| Tweet Topic Started: Jun 6 2016, 12:19 AM (207 Views) | |
| Pat | Jun 6 2016, 12:19 AM Post #1 |
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Fire & Ice Senior Diplomat
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How is the new leader's policies been in ending it? Is their an end in site or continued deterioration? |
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| Brewster | Jun 6 2016, 01:11 AM Post #2 |
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Fire & Ice Senior Diplomat
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The recession, assuming there is one at all, is pretty weak. The only sector doing badly is the oil industry, which had started to recover when the disaster at Ft. McMurray happened. If you remove oil from the equation (which I very much want to do) Canada's economy is doing very well indeed... ![]() I don't Trudeau's had much effect, either positive or negative - so far he's been much talk, little action. At least he hasn't gotten in the way. |
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| Brewster | Jun 6 2016, 01:16 AM Post #3 |
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Fire & Ice Senior Diplomat
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Here's what's happened to oil. Factor that into the other graph, and you'll see that Canada's doing even better than I thought:
Edited by Brewster, Jun 6 2016, 01:20 AM.
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| Pat | Jun 6 2016, 02:29 AM Post #4 |
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Fire & Ice Senior Diplomat
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Less than 1% growth, from your post i would have thought it would be 2+ Oil is the elephant. |
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| Brewster | Jun 6 2016, 03:50 AM Post #5 |
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Fire & Ice Senior Diplomat
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Growth is growth. It's not a recession. Oil is dead. Even if it makes a certain degree of comeback, it will never be what it once was - good riddance. Take a good look at that oil chart - over 50% loss. At one stage, oil was 3.5% of Canada's economy - that means we've lost about 2% due to oil - add that to the 1% growth we had in spite of oil, and you can see our annual growth overall was about 3% - quite healthy. And with Alberta and others investing heavily in renewables, we'll soon get that 2% back, probably more, with no danger we'll lose it again. Edited by Brewster, Jun 6 2016, 03:56 AM.
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| Berton | Jun 6 2016, 08:53 AM Post #6 |
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What do you call a recession then? Anything less than 4% is not growing very much at all. |
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| Brewster | Jun 6 2016, 11:19 AM Post #7 |
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Fire & Ice Senior Diplomat
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Bullship. Growth is growth. Look at your own rate long term - the average is pretty much the same as ours, 2-3%, no matter who was Pres, who was PM, and which party was running things: ![]() There is no end to your Gullibility - a perfect voter for Trump. |
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| Berton | Jun 6 2016, 11:22 AM Post #8 |
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Thunder Fan
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No, growth is not growth if it is less than inflation. You really need to learn about economics. |
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| Pat | Jun 6 2016, 01:40 PM Post #9 |
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Fire & Ice Senior Diplomat
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For crying out loud, Canada slipped into a recession last September. Why the BS Brew, do you think we can't read the statistics? Here is a CNN Money article to jar the crap out of your head. Canada's economy sucks right now, every economist knows this fact. I was asking how the new leader's policies affected it and never did get a straight answer the other day. Bad news is just that Brew. http://money.cnn.com/2015/09/01/news/economy/canada-economy-recession/ Oh Canada! The country has fallen victim to cheap oil and slid into recession for the first time in six years. The G-7 economy is a big energy exporter and the slump in crude prices -- currently below $50 a barrel -- has spread pain across the country and hit growth. Official data released by Statistics Canada on Tuesday showed second quarter GDP fell by 0.5% on annualized basis. First quarter GDP contracted by 0.8%. That puts the country in a technical recession, defined as two consecutive quarters of declining GDP. Oil prices have been slammed in recent months due to concerns about slowing global growth and too much supply. That's particularly bad news for Canada: The country's heavy oil trades at a discount to already weak prices, due to pipeline constraints and lower quality. Depressed crude prices and the uncertain outlook have forced companies to slash spending and delay projects across the country's huge oil sands industry. |
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| Neutral | Jun 6 2016, 06:39 PM Post #10 |
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Fire & Ice Senior Diplomat
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Dang Pat, are you finally catching on to Brew's BS? LOL |
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