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Canada recession looming?

Canada recession looming?

Old Jun 30th 2012, 12:46 pm
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Default Re: Canada recession looming?

Originally Posted by didikai View Post
I think we'll all be moving to Yorkshire. I hear it's booming there.
I certainly wont be, Id sooner stick hot knitting needles in my eyes than move tóther side of Pennines
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Old Jun 30th 2012, 12:49 pm
  #17  
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Default Re: Canada recession looming?

The day RIM closes down, and it could happen very soon, we'll see some negative effects for sure
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Old Jun 30th 2012, 1:07 pm
  #18  
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Default Re: Canada recession looming?

[QUOTE=

I also think the UK will be on an opposite trajectory.

[/QUOTE]

The UK double dipped back into recession last month. No sign of recovery there. The benefit system is about to get absolutely hammered. As usual, it's the vulnerable to get targeted and the real culprits are eating strawberries and cream at Wimbledon.
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Old Jun 30th 2012, 1:21 pm
  #19  
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Default Re: Canada recession looming?

Originally Posted by Tony-the-Tigger View Post
The UK double dipped back into recession last month. No sign of recovery there. The benefit system is about to get absolutely hammered. As usual, it's the vulnerable to get targeted and the real culprits are eating strawberries and cream at Wimbledon.
Wimbledon attracts the great unwashed nowadays old chap as they have now had to enforce a dress code. The elite will be seen on the banks of the River Thames at Henley on Thames for the Royal Regatta.
Strawberries and cream pfffft how about caviar and foie gras washed down with Bollinger or an 1893 Veuve Clicquot.
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Old Jun 30th 2012, 4:33 pm
  #20  
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Default Re: Canada recession looming?

Originally Posted by didikai View Post
I think we'll all be moving to Yorkshire. I hear it's booming there.
Funnily enough, unemployment rate in Yorkshire (4.8%) is much lower than BC (7.4%), Quebec (7.8%), Ontario (7.8%), Manitoba (5.1%), nova scotia (9.1%), new Brunswick (9.4%).

So yes you're right

And they do better fish and chips in Yorkshire

Last edited by el_richo; Jun 30th 2012 at 4:40 pm.
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Old Jun 30th 2012, 4:35 pm
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Default Re: Canada recession looming?

Originally Posted by el_richo View Post
Funnily enough, unemployment rate in Yorkshire (4.8%) is much lower than BC 6.2%) Go figure.

So yes you're right
I'd like to live in Yorkshire again. The dales are lovely and you get to go to Bettys for tea whenever you feel like it.
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Old Jun 30th 2012, 4:41 pm
  #22  
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Default Re: Canada recession looming?

Originally Posted by Tony-the-Tigger View Post
The UK double dipped back into recession last month. No sign of recovery there. The benefit system is about to get absolutely hammered. As usual, it's the vulnerable to get targeted and the real culprits are eating strawberries and cream at Wimbledon.
I'm talking mid 2013 beyond. There'll be some interesting times ahead for those choosing to move to Canada cos its better
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Old Jun 30th 2012, 4:42 pm
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Default Re: Canada recession looming?

Originally Posted by Alan2005 View Post
I'd like to live in Yorkshire again. The dales are lovely and you get to go to Bettys for tea whenever you feel like it.
My mum brought me over a Betty's fat rascal the other day. Brilliant
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Old Jun 30th 2012, 4:43 pm
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Default Re: Canada recession looming?

Originally Posted by Alan2005 View Post
What percentage of Canadians work in the resource industry do you think?
Other than resources based industries what is Canada any good at?
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Old Jun 30th 2012, 4:46 pm
  #25  
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Default Re: Canada recession looming?

Originally Posted by reeni View Post
lolololololol
I'm surprised. I though you said it is awes-mazing
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Old Jun 30th 2012, 4:55 pm
  #26  
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Default Re: Canada recession looming?

Originally Posted by Alan2005 View Post
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
Interesting thoughts, Alan.

According to The Economist, Canadian house prices are 75% overvalued against rents, which is the highest in the OECD. That figure is for the whole of Canada, it's likely to be worse for places like Toronto and Vancouver.

My own personal experience backs this up. In my neck of the woods (outer Toronto suburbs) a family home can be rented for 50% of the mortgage payments on an equivalent home in the same area. This is at current low interest rates - imagine how much out of whack it would be if interest rates went up...

The price/rent ratio is usually seen as an excellent indicator of property 'fair value'. It will have to come down from its amazing 75% overvaluation at some point. So basically you're saying that the government will print money to stoke inflation on purpose, therefore pushing up the cost of living tremendously? That could work, as rents would be pushed up as well, which would bring the price/rent ratio back to normal.
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Old Jun 30th 2012, 5:01 pm
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Default Re: Canada recession looming?

Originally Posted by FlyingDutchman6666 View Post
So basically you're saying that the government will print money to stoke inflation on purpose, therefore pushing up the cost of living tremendously? That could work, as rents would be pushed up as well, which would bring the price/rent ratio back to normal.
Yes - that's basically what I'm saying. It's what they did / have been doing with ZIRP and QE.
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Old Jun 30th 2012, 5:07 pm
  #28  
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Default Re: Canada recession looming?

Originally Posted by Alan2005 View Post
Yes - that's basically what I'm saying. It's what they did / have been doing with ZIRP and QE.
Not sure how successful that strategy has been for the UK to get its housing market back to health.

I've lived in South Cambridgeshire for the past 10 years until very recently. Where the general cost of living has gone up tremendously since 2008 (50 pound weekly Tesco shop ballooned to 80/90 pounds, to give just one example), rents in our area have actually *gone down*. So have house prices, but not as much as rents.

As per usual for a house price boom, if you bought a UK house at the top of the market (2006/7/8), there is no way in hell that the rent will even remotely cover the mortgage.
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Old Jun 30th 2012, 5:10 pm
  #29  
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Default Re: Canada recession looming?

Originally Posted by The4BellsLondon View Post
Hopefully the housing market will crash
No no!

When that happens everything goes with it.

Ive just left a housing crisis in Ireland.

Keep renting Bells!

Last edited by Londonuck; Jun 30th 2012 at 5:16 pm.
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Old Jun 30th 2012, 5:22 pm
  #30  
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Default Re: Canada recession looming?

Originally Posted by el_richo View Post
Funnily enough, unemployment rate in Yorkshire (4.8%) is much lower than BC (7.4%), Quebec (7.8%), Ontario (7.8%), Manitoba (5.1%), nova scotia (9.1%), new Brunswick (9.4%).

So yes you're right

And they do better fish and chips in Yorkshire
Your 'They do better fish and chips is Yorkshire' is about as accurate as your percentages.

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