Bank of Canada says - Recession is over (in Canada)!

Bank of Canada says recession is ending

Sounds a bit too confident, considering the state of the US and UK, but I'm no financial whiz.

Can this be?

Um...maybe. I tend to doubt it though.

I think it is just a ploy to make people think it is over...it is not over until "They" say it is, or "They" get what they want.

Seems a bit dodgy to me. I know our banks we're conserative, but can we recover that fast?

The $C dollar jumped, highest surge in last 7 weeks with that news.

I personally want to see our dollar fall a bit, as I am paid in GBP lol

I'm fortunate to live in a city/province that has not been hit with a recession at all. in fact we've seen an economic incline in the past year. Canada's banking system is different from counterparts in the US and UK and as a result has been more stable. For instance, the sub-prime mortgage bubble simply did not occur in Canada as it did in the states.

To be sure, more people are spending their money more wisely where I live, trying to reduce their debtload and cutting up credit cards, but there is no shortage of jobs here--Not at all. Unemployment rate 3.9% GDP increase June 2008 - june 2009 3.9%.

Well, glad canada could finally catch up with the rest of us. Ours finished back in 2008


June 18, 2008 at 16:38:27

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BERNANKE Says Worst May Be Over - Royal Bank Of Scotland Disagrees

www.opednews.com...

Originally posted by GioTheGreek
Seems a bit dodgy to me. I know our banks we're conserative, but can we recover that fast?

So much of the economy depends on psychology, as such using and manipulating numbers to give the populace confidence is par for the course of managing an economy.

Who knows where the truth is ... and what does it matter to those who have lost their jobs. It's just words designed to inspire confidence, it's not like anyone is suing them if they're wrong.

reply to post by schrodingers dog


What does the head BoC know anyway... Carney is 44 and comes from the Northwest Territories

(Just joking, he grew up in Edmonton)

Originally posted by schrodingers dog

Originally posted by GioTheGreek
Seems a bit dodgy to me. I know our banks we're conserative, but can we recover that fast?

So much of the economy depends on psychology, as such using and manipulating numbers to give the populace confidence is par for the course of managing an economy.

Who knows where the truth is ... and what does it matter to those who have lost their jobs. It's just words designed to inspire confidence, it's not like anyone is suing them if they're wrong.

I agree with SD here. There has been an attempt by various major banks and other financial institutions to pump in some more positive reports, reporting, in the hopes of getting the economy up. Mind you I do believe the western nations will recover, the economy will probably recover by mid next year, but take into mind for the present time there will be those who will attempt to speed up the recover process. The sooner the recovery, the better for the financial institutions.

The Bank of Canada is no different than the Bank of England or the Federal Reserve. It has nothing to do with your banking system. It's as much a fiat, debt based system as any. It has to do with your population. Canada is a very unique country right now. For the most part you guys are a very highly skilled, highly educated country compared to your population with a vast amount of natural resources. I mean come on you guys are only 33 million people. The USA probably has that many illegals.

It's nothing but a con game. The reports US are that it's over as well, the Dow is on a streak, the Nasdaq is on streak, etc., but it's nothing but crap. One hundred years of a bankster-run ponzi scam has to end sometime.

It's the same old game that "they" always play. They tell you to get and stay in, cause everything is wonderful... they said that back in the late 90's, they were saying that back in 04, and they were saying that in 07. They're trying to squeeze you for every last penny before they take off.

I chuckled when I heard this on the news today, then I think I threw up a little.

The realestate(resale) market has improved, however, the new build/development has not. The construction industry is still hurting and so are the manufacturers who supply them.

I wish this was true........

reply to post by PowerSlave


Here's an excerpt from www.greaterfool.ca

"Governments in Canada and the United States have spent more money than God has to stimulate the economy, and it hasn’t worked. After trillions of dollars, the number of jobless people is a lot higher, the number of functioning factories is a lot lower and the economy is still contracting. Any number of things could happen to send us into the second dip – the swine flu pandemic, another Katrina, a run on the greenback, a spike or dive in oil prices, chaos in Pakistan, whatever."

For a good time, call Mark

I'm sure Harper had a lot to do with that statement. His gov't can't afford to come out and say "it's over!" and we all know it's not. Just like in November when they said we wouldn't need to run a deficit and then BOOM 2 months later we need to borrow $50 Billion.

It's more dog and pony show that's all. I've been writing my MP on the need to follow the US in auditing the Bank of Canada. We have a right to know what they are doing.