The argument always seems to be that things won't be as bad in Canada as they will be in the U.S. Who is pushing that meme? Not Peacenik. California has collapsed and California has a smaller deficit than Canada, and a bigger economy. Credit Card payments in Canada are now more in arrears than they are in the U.S. The U.S. is Canada's number one trading partner. The automotive industry in Canada is about to become extinct. Peacenik is hanging on, hoping Peacenik can have a summer vacation before.... what? Peacenik is hoping Punditman isn't reading these posts while Punditman is on vacation. Punditman would be disturbed.
by Garth Turner
I swear. Some days.
Commodities tanked Monday, taking the stock market with them. Serious doubts are rising about the reality of a broad-based global recovery. Merrill’s new hot-shot girl economist (HSGE) rattled Bay Street with a warning Canada’s economy will likely swoon again after it plumps a little. Thirty-six people have died from swine flu in this country. Lots more to come with unknown economic consequences of a new pandemic. And Ottawa’s budget cop is warning us the feds are walking us into huge jobs losses and $156 billion of new deficits over the next five years.
So what topped local newscasts in Toronto, Edmonton and Vancouver?
Read on...
by Garth Turner
I swear. Some days.
Commodities tanked Monday, taking the stock market with them. Serious doubts are rising about the reality of a broad-based global recovery. Merrill’s new hot-shot girl economist (HSGE) rattled Bay Street with a warning Canada’s economy will likely swoon again after it plumps a little. Thirty-six people have died from swine flu in this country. Lots more to come with unknown economic consequences of a new pandemic. And Ottawa’s budget cop is warning us the feds are walking us into huge jobs losses and $156 billion of new deficits over the next five years.
So what topped local newscasts in Toronto, Edmonton and Vancouver?
Read on...
