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British Expats (https://britishexpats.com/forum/)
-   Canada (https://britishexpats.com/forum/canada-56/)
-   -   Canada in recession? (https://britishexpats.com/forum/canada-56/canada-recession-577896/)

dbd33 Dec 11th 2008 1:02 am
Re: Canada in recession?
 
Originally Posted by Dave+Jules (Post 7057933)
heck lets all borrow and spend that will get us out of trouble. I will borrow money to build an extension on my garage and put in a wireless network out as far as the shed. I will also resurface the drive and replace all the windows.... see it is only sensible infrastructure spending surely that is not wrong ?
It would be good for the economy as a whole and good for you too, if you have the cash flow to support the repayments at the low interest rates now on offer.

Novocastrian Dec 11th 2008 3:42 am
Re: Canada in recession?
 
Originally Posted by Gremmie (Post 7057070)
try-- Herr Steinbruck spricht mit gespaltene zunge:rofl:
Ah, much better. thanks.

Gremmie Dec 11th 2008 6:36 am
Re: Canada in recession?
 
Originally Posted by Novocastrian (Post 7058669)
Ah, much better. thanks.
bitte sehr

seanyg Dec 11th 2008 8:16 pm
Re: Canada in recession?
 
Originally Posted by MB-Realtor (Post 7055674)
Manitoba is still keeping its head above water, the province added over 2000 jobs in November. Though I doubt it will last.
I like to think we're to thank for that - the only province whose housing market isn't falling when we want it to, and all because it's our destination and we desperately need it to! (I'm sure if we'd chosen Vancouver then Manitoba would be crashing, hehe) :p

PS - I read that there were only 500 apartments to rent in Winnipeg in October (vacancy rate dropped to 1%) so God knows where we'll stay when we do get there! :confused::blink:

johnh009 Dec 12th 2008 12:59 am
Re: Canada in recession?
 
Originally Posted by jimf (Post 7056886)
German ridicule for UK policies.....

http://news.bbc.co.uk/1/hi/business/7776462.stm

Looks like the Germans don't think much of the British Keynesian solution so Harper may not be out of step that much.

(I don't quite follow some of the figures at the end of the BBC article. Surely the German figures are millions not billions?)
Before all of this borrowing by Brown, the UK already had the 5th largest deficit in the developed World so the Germans may have a point. Wait another 6 months and watch inflation rise in the UK which will give the government another problem to deal with.

Simon Legree Dec 12th 2008 3:25 am
Re: Canada in recession?
 
Originally Posted by johnh009 (Post 7061096)
Before all of this borrowing by Brown, the UK already had the 5th largest deficit in the developed World so the Germans may have a point. Wait another 6 months and watch inflation rise in the UK which will give the government another problem to deal with.
And all the prudent, fiscally responsible Mr. Broown's "40% rule" financial jiggery pokery hasn't come to light yet. All the many tens of billions of pounds of PFI deals that do not appear on the government's books as liabilities will show up when the accounting rules change. They are trying to delay that evil day but it will come. Also, the blank cheque that they wrote to bail out Northern Wreck, said to be over 40 billion pounds. A done deal before the tax payers even knew about it and a lot of them still aren't aware of it. Ah well, it's only money ! Does anyone know what the Olymipic Games cost is yet ? Another financial gem to be sure.

johnh009 Dec 12th 2008 4:03 am
Re: Canada in recession?
 
Originally Posted by Simon Legree (Post 7061490)
And all the prudent, fiscally responsible Mr. Broown's "40% rule" financial jiggery pokery hasn't come to light yet. All the many tens of billions of pounds of PFI deals that do not appear on the government's books as liabilities will show up when the accounting rules change. They are trying to delay that evil day but it will come. Also, the blank cheque that they wrote to bail out Northern Wreck, said to be over 40 billion pounds. A done deal before the tax payers even knew about it and a lot of them still aren't aware of it. Ah well, it's only money ! Does anyone know what the Olymipic Games cost is yet ? Another financial gem to be sure.
Also, much of the borrowed money was plundered from the pensions funds, so, if all of this does not work....

jimf Dec 12th 2008 5:24 am
Re: Canada in recession?
 
Originally Posted by johnh009 (Post 7061096)
Before all of this borrowing by Brown, the UK already had the 5th largest deficit in the developed World so the Germans may have a point. Wait another 6 months and watch inflation rise in the UK which will give the government another problem to deal with.
Although the Germans have a good positive balance of trade I think they have a fair old budget defict already. (I'd have to check out actual figures though.)

Its been reported that what Germany doesn't really want is for this UK type injection of money to set a precedent for the EU as they, being the largest and most successful economy by some distance, will end up paying for it disproportionately as usual. It may well be that the riots in Greece right now are just the first signs of trouble in the weaker european economies which are bound into a currency kept high by the strength of the German economy. For better or worse the UK is able (or the markets force it) to devalue at times like this.

NikkiB Dec 13th 2008 7:58 am
Re: Canada in recession?
 
Over in Victoria we had one article in the paper saying it was official, the government may go overdrawn a bit next year sometime, there was no plans to sink any money in and don't worry about it unless you have a lot of overseas investments. The banks here seem to be quite self sufficient.

I don't think the version of recession here is quite the same as in England where they wait till the country in bankrupt until announcing there might be a problem.

johnh009 Dec 13th 2008 5:36 pm
Re: Canada in recession?
 
Originally Posted by jimf (Post 7061815)
Although the Germans have a good positive balance of trade I think they have a fair old budget defict already. (I'd have to check out actual figures though.)

Its been reported that what Germany doesn't really want is for this UK type injection of money to set a precedent for the EU as they, being the largest and most successful economy by some distance, will end up paying for it disproportionately as usual. It may well be that the riots in Greece right now are just the first signs of trouble in the weaker european economies which are bound into a currency kept high by the strength of the German economy. For better or worse the UK is able (or the markets force it) to devalue at times like this.
Like the Romans said, "The people get the government they deserve."

Yogi-Bear Dec 14th 2008 1:50 am
Re: Canada in recession?
 
Originally Posted by Simon Legree (Post 7061490)
And all the prudent, fiscally responsible Mr. Broown's "40% rule" financial jiggery pokery hasn't come to light yet. All the many tens of billions of pounds of PFI deals that do not appear on the government's books as liabilities will show up when the accounting rules change. They are trying to delay that evil day but it will come. Also, the blank cheque that they wrote to bail out Northern Wreck, said to be over 40 billion pounds. A done deal before the tax payers even knew about it and a lot of them still aren't aware of it. Ah well, it's only money ! Does anyone know what the Olymipic Games cost is yet ? Another financial gem to be sure.
Don't forget the other UK gem?

"The Millenium Dome"

Only good for attempted diamond heists - as I recall! ;)

Yogi

Dave+Jules Dec 14th 2008 2:35 am
Re: Canada in recession?
 
Originally Posted by dbd33 (Post 7058277)
It would be good for the economy as a whole and good for you too, if you have the cash flow to support the repayments at the low interest rates now on offer.
Depends if I could rely on the cashflow. Unemployment is a double whammy - paying out benefits and no income tax coming in.... Personally I think borrowing lots to get out of trouble isnt the answer. Targeted investment together with change yes, (for example not much point having new windows if you do not modify your use of energy) but what I see with politicians is that they are throwing money around with gay abandon. The UK is selling its future to save the current profiligate government / people etc... The US is doing the same thing (even more dangerously printing lots of money to get out of trouble).

In my humble opinion Canada should be careful not to throw its lot in with the rest (Perhaps look to Germany for your inspiration on the path to take)

Novocastrian Dec 14th 2008 6:17 am
Re: Canada in recession?
 
Originally Posted by Dave+Jules (Post 7066242)

In my humble opinion Canada should be careful not to throw its lot in with the rest (Perhaps look to Germany for your inspiration on the path to take)
"While Mr Steinbruck has accused the UK of over-spending on the economic recovery, the German government has put 480bn euros (£370.4bn; $645bn) into a rescue package for its banks."

...from the bbc article cited above.

pdarwin Dec 14th 2008 9:03 am
Re: Canada in recession?
 
About 50% of Canadian foreign trade is with the US. When they go down, we will go down too. Harper is full of it.

Novocastrian Dec 14th 2008 9:24 am
Re: Canada in recession?
 
Originally Posted by pdarwin (Post 7067164)
About 50% of Canadian foreign trade is with the US. When they go down, we will go down too. Harper is full of it.
Make that 80%. But, yes, Harper is full of it.


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