Canada recession looming?
Jun 30th 2012, 3:52 am
#1
Beep
Thread Starter
Joined: Jan 2009
Location: Here
Posts: 8,311
Canada recession looming?
So with the budget cuts in both public and private sectors taking shape, sales in the high street slowing, and property prices stalling in certain areas, will we see a recession soon?
Or will it just be a shit few years?
I think it'll be tough times from mid 2013 for a few years.
I also think the UK will be on an opposite trajectory.
I think the recent changes to the immigration process will save some heartache for many wannabe migrants.
Or will it just be a shit few years?
I think it'll be tough times from mid 2013 for a few years.
I also think the UK will be on an opposite trajectory.
I think the recent changes to the immigration process will save some heartache for many wannabe migrants.
Jun 30th 2012, 3:59 am
#2
Joined: Aug 2005
Posts: 14,227
Re: Canada recession looming?
Well, nothing got fixed in 2008 - what did people expect?
Jun 30th 2012, 4:04 am
#3
Lost in BE Cyberspace
Joined: Nov 2011
Location: Somewhere between Vancouver & St Johns
Posts: 19,849
Re: Canada recession looming?
Better ask the experts who did not see the crash a few years ago 
I think it will be a shit few years with more job losses in certain sectors but its been like that for years so how is it different. This cycle with the Feds also happened in the early 90s lots of workers laid off and not replaced but they hired more years down the road.
The housing market will correct itself eventually. The ridiculous prices in Vancouver, Toronto and Calgary etc have pushed prices up in other areas that are now becoming too high and pricing people out of the market.
I think the UK is still going to be hit with some more recession and austerity measures forcing more of its citizens wanting to get the hell out.
There again Im no expert and really dont have a ****ing clue what will happen nor can I control things.
As long as the glass is half full of rum and coke Im ok with that.
I think it will be a shit few years with more job losses in certain sectors but its been like that for years so how is it different. This cycle with the Feds also happened in the early 90s lots of workers laid off and not replaced but they hired more years down the road.
The housing market will correct itself eventually. The ridiculous prices in Vancouver, Toronto and Calgary etc have pushed prices up in other areas that are now becoming too high and pricing people out of the market.
I think the UK is still going to be hit with some more recession and austerity measures forcing more of its citizens wanting to get the hell out.
There again Im no expert and really dont have a ****ing clue what will happen nor can I control things.
As long as the glass is half full of rum and coke Im ok with that.
Jun 30th 2012, 4:38 am
#4
half a century
Joined: Mar 2008
Location: Sarf Lundun to East Van :)
Posts: 10,222
Re: Canada recession looming?
Hopefully the housing market will crash 
Jun 30th 2012, 4:54 am
#5
slanderer of the innocent
Joined: Dec 2008
Location: Vancouver, BC
Posts: 6,695
Re: Canada recession looming?
Jun 30th 2012, 5:00 am
#6
Joined: Aug 2005
Posts: 14,227
Re: Canada recession looming?
I used to think this would happen. It still might, but do not underestimate how far the government will go to prevent this happening, a drop yes, serious crash - unlikely imo.
More likely is that interest rates will be lowered and/or money will be printed thus stealing from anyone with savings or on a fixed income. I'd guess that right now, savings in cash are probably losing about 3 or 4% a year in value in real terms. Not a problem if what you want to buy is losing value quicker than that, but over the long term it's a risky strategy as the state will choose inflation over deflation every single time the economy goes down the toilet.
This shit still pisses me off
More likely is that interest rates will be lowered and/or money will be printed thus stealing from anyone with savings or on a fixed income. I'd guess that right now, savings in cash are probably losing about 3 or 4% a year in value in real terms. Not a problem if what you want to buy is losing value quicker than that, but over the long term it's a risky strategy as the state will choose inflation over deflation every single time the economy goes down the toilet.
This shit still pisses me off
Jun 30th 2012, 5:01 am
#7
Grumpy Know-it-all
Joined: Jul 2010
Location: Calgary, Alberta
Posts: 8,928
Re: Canada recession looming?
Hard to see how, the world needs all our natural resources and they'll need more if their economies ever recover, oil, gas, potash, lumber, the list goes on... look at all the potash mines being set up in Saskatchewan.
Jun 30th 2012, 5:03 am
#8
Beep
Thread Starter
Joined: Jan 2009
Location: Here
Posts: 8,311
Re: Canada recession looming?
Maybe BC will be more ****ed than the rest.
Jun 30th 2012, 5:08 am
#9
Joined: Aug 2005
Posts: 14,227
Re: Canada recession looming?
What percentage of Canadians work in the resource industry do you think?
Jun 30th 2012, 5:13 am
#10
half a century
Joined: Mar 2008
Location: Sarf Lundun to East Van :)
Posts: 10,222
Re: Canada recession looming?
I used to think this would happen. It still might, but do not underestimate how far the government will go to prevent this happening, a drop yes, serious crash - unlikely imo.
More likely is that interest rates will be lowered and/or money will be printed thus stealing from anyone with savings or on a fixed income. I'd guess that right now, savings in cash are probably losing about 3 or 4% a year in value in real terms. Not a problem if what you want to buy is losing value quicker than that, but over the long term it's a risky strategy as the state will choose inflation over deflation every single time the economy goes down the toilet.
This shit still pisses me off
More likely is that interest rates will be lowered and/or money will be printed thus stealing from anyone with savings or on a fixed income. I'd guess that right now, savings in cash are probably losing about 3 or 4% a year in value in real terms. Not a problem if what you want to buy is losing value quicker than that, but over the long term it's a risky strategy as the state will choose inflation over deflation every single time the economy goes down the toilet.
This shit still pisses me off
Ps hi nice to see you back
Jun 30th 2012, 5:16 am
#11
Grumpy Know-it-all
Joined: Jul 2010
Location: Calgary, Alberta
Posts: 8,928
Jun 30th 2012, 5:28 am
#12
slanderer of the innocent
Joined: Dec 2008
Location: Vancouver, BC
Posts: 6,695
Jun 30th 2012, 7:46 am
#13
BE Enthusiast
Joined: Mar 2009
Posts: 471
Re: Canada recession looming?
given the natural resources you possess, you'll be in the same boat as Australia.... 95% of the population will be in doldrums but the official GDP figures will still be positive and the politicians will high five themselves and bullshit how how well they steered Canada through tough economic times and subsequently give themselves a pay rise.
Meanwhile the real population are struggling with high costs of living, limited job prospects outside major metropolitan or mining areas and the country battles through poor spending of education, health and other major infrastructure monies.
good times, good times.
Meanwhile the real population are struggling with high costs of living, limited job prospects outside major metropolitan or mining areas and the country battles through poor spending of education, health and other major infrastructure monies.
good times, good times.
Jun 30th 2012, 11:35 am
#14
Banned
Joined: Aug 2005
Location: Canada
Posts: 314
Re: Canada recession looming?
So with the budget cuts in both public and private sectors taking shape, sales in the high street slowing, and property prices stalling in certain areas, will we see a recession soon?
Or will it just be a shit few years?
I think it'll be tough times from mid 2013 for a few years.
I also think the UK will be on an opposite trajectory.
I think the recent changes to the immigration process will save some heartache for many wannabe migrants.
Or will it just be a shit few years?
I think it'll be tough times from mid 2013 for a few years.
I also think the UK will be on an opposite trajectory.
I think the recent changes to the immigration process will save some heartache for many wannabe migrants.
