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Originally posted by Trayen11
So it looks like we here in cannuck land are going to be heading into hard time ourselves as well. I was really hoping that Canada would be able to hold out and remain stable and ride the storm of the US meltdown. But it looks like we are really tide into the US demise.
TORONTO -- Economists from Canada's Big Five banks expect little or no growth in the near future, warning Monday that the domestic economy's current gloom will deepen into something worse than a recession.
The word "recession" wouldn't describe the deep structural problems affecting everything from the U.S. housing sector to the Canadian oil industry, said Bank of Nova Scotia chief economist Warren Jestin.
"You have to invent a new word to describe what we're in now," he said after the banks presented their perspectives at the Economic Club.
Originally posted by BattleofBatoche
P.S. to all you comunist socialist central Canadians, if you pass a carbon tax on Alberta & Saskatchewan, the oil & gas companies will just stop drilling and move to mexico, Egypt, North Africa, Russia, etc.
Then nobody will have any thing.
Only a mentally challenged carbon based lifeform would support a carbon tax, kinda like chickens voting for Kernel/connel sanders of KFC.
The following remarks were made by C. Fred Bergsten to the 2000 annual meeting of the Trilateral Commission in Tokyo. C. Fred Bergsten is Director of the Institute for International Economics and a former U.S. Assistant Secretary of the Treasury for International Affairs.
The situation is very serious if, like me, you believe in the bicycle theory, which says you either move forward or you fall over.
A second part of the response has to be an honest recognition and admission that there are costs and losers. For too long, those of us on the pro-globalization side tried to ignore and deny this fact—but it clearly must be accepted and admitted.