Canadian economy to recover first from recession

[bullish]

Here is a link to interesting article on how the Canadian economy will be one of the first to recover from the recession:

http://www.theglobeandmail.com/repor...rticle1173099/

[Canadian]

You give the impression of a man who believes everything written in the papers...

[trent]

The real problems are yet to start in Canada. Once the employment insurance runs out for the recently laid off, foreclosures will pickup, spending will slow, banks will start feeling the pain of defaulting loans (mortgages, car loans, credit lines, credit cards). At this point you are not looking at recovery, but at economic collapse.

[bullish]

Originally Posted by trent

The real problems are yet to start in Canada. Once the employment insurance runs out for the recently laid off, foreclosures will pickup, spending will slow, banks will start feeling the pain of defaulting loans (mortgages, car loans, credit lines, credit cards). At this point you are not looking at recovery, but at economic collapse.

I don't think we'll ever see problems comparable to the US ones.

[Canadian]

Originally Posted by bullish

I don't think we'll ever see problems comparable to the US ones.

Care to explain how are we so different compared to US?

[sunshine]

Originally Posted by bullish

Here is a link to interesting article on how the Canadian economy will be one of the first to recover from the recession:

http://www.theglobeandmail.com/repor...rticle1173099/

We haven't been in a true recession, how come we are the first to come out of it? The number of unemployed people is up every month, people lose their jobs all the time. We will be on the way to recovery when companies start to create jobs.

[ggonzo]

Today's paper also said that the New HST tax is good for us. Here is what Dalton McGuinty said "Our intention is simply to put in place a tax system that is modern and efficient and that enhances our competitiveness and enables us to create more jobs"
I think more taxes and competitiveness are two opposite things but hey who am I to have an opinion?