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(Financial Times)   Economists warn that Canada "is on brink of recession", point to thousands of Canadians frantically hoarding poutine, Carling Black Label and Celine Dion box sets to get them through the coming hard times   (ft.com) divider line 43
    More: Obvious  
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597 clicks; posted to Business » on 30 Aug 2008 at 4:50 AM   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



43 Comments   (+0 »)
   

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2008-08-30 12:06:27 AM
FTA: He (Prime Minister Stephen Harper) may call a federal election between September 2 and September 7, one of his aides said, as the governing Conservatives struggle to find common ground with opposition parties. That means one possible election date is October 14, the official said.

Another election is almost a given. I've had calls this week from pollsters from the Conservatives and Liberals. Funny how our politics goes... at least the election will be quick.

Nice job America... thanks for the economic uncertainty!
 
2008-08-30 12:22:03 AM
But what of the circular bacon?! Is it okay?! What do you know?!!!!!
 
2008-08-30 12:26:26 AM
Harper sucks ass. Is it any surprise that a conservative would fark up the economy? It's not like in Alberta, where they have surplus natural resource revenue to prop up poor fiscal policy. Better get a liberal from BC in office to fix stuff up.

My Canadian friends, hoard your syrup. It still commands a hefty price here in the states.

/grew up next to Canada in NNY
//CBC News kicks CNN's ass for actual news
 
2008-08-30 02:08:03 AM
warrenkinsella.com

don't call it a comeback
 
2008-08-30 03:33:44 AM
Tr0mBoNe: I've had calls this week from pollsters from the Conservatives and Liberals

Ditto.

/view from the other side of the country
 
2008-08-30 03:50:02 AM
This is what happens when you run a business and have one customer. When your only customer goes bust, so does your business. Canada should really try and expand its economy on a more global level. It's good to see that we're selling lumber to Japan and other Asian countries, but it would be nice to see more Canadian participation in Europe.
 
2008-08-30 04:32:40 AM
For YEARS I've endured Canadians, among a plethora of other people
from other countries, wishing American's unwarranted harm and suffering

Careful what you wish for, you just might get it... biatches

i157.photobucket.com
 
2008-08-30 05:08:01 AM
Doing a heckuva job, Flaherty!


but seriously, it's not like his last position almost went belly up, right?
 
2008-08-30 05:47:59 AM
MacEnvy: Harper sucks ass. Is it any surprise that a conservative would fark up the economy? It's not like in Alberta, where they have surplus natural resource revenue to prop up poor fiscal policy. Better get a liberal from BC in office to fix stuff up.

It wouldn't matter who was in charge of parliament. As the US economy goes, so does ours. The only reason we haven't been hit has hard as them yet is our natural resources propping up the economy.

klymen: This is what happens when you run a business and have one customer. When your only customer goes bust, so does your business. Canada should really try and expand its economy on a more global level. It's good to see that we're selling lumber to Japan and other Asian countries, but it would be nice to see more Canadian participation in Europe.

I would imagine that the cost of shipping has been the limiting factor. It's just easier to sell to the states where the cost of getting the product there is cheaper. Also, sharing a common culture doesn't hurt the sales cycle any. It's not like companies think they could make more money selling to Europe but just decide not to.
 
2008-08-30 07:20:33 AM
We've known this was coming for a while now.
 
2008-08-30 08:39:52 AM
Meatzilla[TotalFark] Quote 2008-08-30 04:32:40 AM
For YEARS I've endured Canadians, among a plethora of other people
from other countries, wishing American's unwarranted harm and suffering


I've mostly wished America would stop killing itself with unsustainable deficit spending before it dragged me down to.

But go ahead and have a good cry over all those mean people. It'll help you enjoy you endure all that suffering.
 
2008-08-30 08:51:06 AM
MacEnvy: Harper sucks ass. Is it any surprise that a conservative would fark up the economy? It's not like in Alberta, where they have surplus natural resource revenue to prop up poor fiscal policy. Better get a liberal from BC in office to fix stuff up.


I can't tell if this is a troll or if you're just really dumb. Hopefully the former.
 
2008-08-30 10:02:28 AM
PirateFreedom: Meatzilla[TotalFark] Quote 2008-08-30 04:32:40 AM
For YEARS I've endured Canadians, among a plethora of other people
from other countries, wishing American's unwarranted harm and suffering


I've mostly wished America would stop killing itself with unsustainable deficit spending before it dragged me down to.

But go ahead and have a good cry over all those mean people. It'll help you enjoy you endure all that suffering.


Its just mostly the schadenfraude we get from Canadians.
The thought doesn't give me the warm fuzzies but NAFTA has put us down this road: we can't dismantle NAFTA and the current implementation is fairly unsustainable: Corruption and horrific environmental policies in Mexico, Unsustainable deficit spending and economic policy in the US, Canada getting creamed with our economic woes while it gamely stocks us full of natural resources and energy.

If you can't go back, and remaining in place is untenable, then the only option is to move forward. That is the position we find ourselves in with NAFTA. It needs to transform into broader political and economic cooperation. Our little corner of the globe with three countries could be nearly completely independent of the rest of the world if we moved in that direction.
 
2008-08-30 10:19:16 AM
Stephane Dion is the dynamic leader who'll oppose Harper.

Bwahahahahah!!!!
 
2008-08-30 10:32:12 AM
JaMorg
Look up Smoot Hawley for an example of how effective protectionism is against an economic downturn.

America is still incredibly strong but the looters control the media so the trillions that are being borrowed to allow the Rupert Murdochs of the world a free ride may continue.

No matter how much gay marriage, flag pin, horse race noise the media generates, borrowing to support consumption is not sustainable and how that will be dealt with is the most important issue facing America.

My hope is that both candidates and parties realize this and it is only their legitimate contempt for the voters that makes their campaigns so ridiculous.
 
2008-08-30 10:45:16 AM
Malbar: I can't tell if this is a troll or if you're just really dumb. Hopefully the former.

You do know that the federal surplus is almost gone? If it wasn't for selling $3 billion worth of telecommunications last(this?) month, we'd be in the red.
And this is with Harper cutting all arts funding.

I guess we have to pay for the billions being spent on the military somehow.
 
2008-08-30 10:55:00 AM
I forget the exact number but something around 90% of all Canadian exports come to the United States. If we hit a full blown recession, they'll soon follow.
 
2008-08-30 10:56:58 AM
Germany (the engine of the EU) is heading towards an economic slowdown, Canada, even China and India are.

The USA free cheque bounce will fail to stop the US from dropping into recession.

The question is, what can be done to stop this?

I don't think anything can be done. There is a credit hole, and there are a lot of bad policies that have created a business cycle that demands some kind of slowdown, correction, and reboot.

Canada has been fortunate to have paid down a fair about of debt, and now may have to face a year or two of fiscal deficits.

In times like these where the private business cycle slows down it's where the government can actually do some good by spending (spending during the good times by the government simply crowds out private investment).

Canada (and the US) need infrastructure improvements. The highways, the telecom network, cities...they all suck compared to Europe and Asia.

When I got back from Shanghai I felt like I was stepping backwards in time. Those of you who have taken a cab ride in Tokyo understand how advanced Japan is over us. Even France has a lot of cool stuff we could use.

Trains. Fast trains. The airline industry is going down (zoom is gone, and there are rumors that Sunwing is in big trouble). There is no reason why I cannot take a train from Toronto to NYC and get there is four hours. Toronto to Montreal should be an hour, and Toronto to Ottawa should be an hour.

Trains are more efficient than planes, it is just that our train infrastructure sucks. Plans are going to become even more costly over time, and the experience at an airport is horrid. I avoid airports now.

Anywho. The US is in a bad spot because it has been running massive deficits for a long while...and they can only increase in a recession.

That is not good for the US, and not good for anyone else.

This is why I hope Obama wins. Bush has done so much damage to the US treasury it is criminal.
 
2008-08-30 11:03:36 AM
MIguy: I forget the exact number but something around 90% of all Canadian exports come to the United States. If we hit a full blown recession, they'll soon follow.

Fark Obvious poster is obvious.
 
2008-08-30 11:15:54 AM
but how will they pay for their Kraft Dinner?
 
2008-08-30 11:20:44 AM
Extreme Parity We Canadian Dollar Are Also!
 
2008-08-30 11:25:17 AM
PirateFreedom: JaMorg
Look up Smoot Hawley for an example of how effective protectionism is against an economic downturn.

America is still incredibly strong but the looters control the media so the trillions that are being borrowed to allow the Rupert Murdochs of the world a free ride may continue.

No matter how much gay marriage, flag pin, horse race noise the media generates, borrowing to support consumption is not sustainable and how that will be dealt with is the most important issue facing America.

My hope is that both candidates and parties realize this and it is only their legitimate contempt for the voters that makes their campaigns so ridiculous.


Not talking about protectionism, on the contrary, expansion of the free trade principles of NAFTA must move into the economic policy and political sphere. Mexico is an ideal manufacturing base along with the neglected Midwest. Canada is a huge natural resource provider while the US provides the bulk of the research, consumption, and R&D. All three of us need each other. There are tweaks that have to be done to stop us from competing against each other and start to consider the welfare of all three. Canada and Mexico have ALWAYS been more important to US interests than Europe. It is time we started recognizing that fact and start repairing our relationships right here with our absolute closest allies.
 
2008-08-30 11:30:48 AM
Third Day Mark: Fark Obvious poster is obvious.

This is FArk, nothing is obvious to some people. I'm sure somebody will come along and tell me what an idiot I am and that Canada will do just fine.
 
2008-08-30 11:37:02 AM
Most of the world probably couldn't identify Canada on a map.

/if only we gave kids more globes.
 
2008-08-30 11:41:32 AM
MIguy: Third Day Mark: Fark Obvious poster is obvious.

This is FArk, nothing is obvious to some people. I'm sure somebody will come along and tell me what an idiot I am and that Canada will do just fine.


You idiot. Canada is going to be just fine.
 
2008-08-30 11:59:15 AM
Even though we ain't got money, I'm still in love with you, honey....
 
2008-08-30 12:01:10 PM
JaMorg

Re: NAFTA - I misunderstood you, sloppy reading on my part.

I don't think a closer North American Union is practical.

European economic union seems somewhat successful but they aren't dominated by a single member that is vastly richer than the others and they have a long history of destructive wars they want to overcome.

NAFTA is working quite well. There are losers but far more winners.

The recent American policy of massive debt and cheap money has acted as a strong but unsustainable stimulus. The collapse of this has little to do with NAFTA.

The dollar has been largely devalued already and there is reasonable hope that things like home prices are bottoming out.

I think America will recover quickly if and when sound economic policy replaces looting the future.
 
rka
2008-08-30 12:32:29 PM
rob.d: Trains are more efficient than planes, it is just that our train infrastructure sucks.

No, the train infrastructure is just fine. It's just that it is geared towards freight, not passengers.
 
2008-08-30 12:32:46 PM
Malbar: MacEnvy: Harper sucks ass. Is it any surprise that a conservative would fark up the economy? It's not like in Alberta, where they have surplus natural resource revenue to prop up poor fiscal policy. Better get a liberal from BC in office to fix stuff up.


I can't tell if this is a troll or if you're just really dumb. Hopefully the former.


Mostly a troll, but I was also pretty drunk at that time last night.

Harper does suck though, I stand by that.
 
2008-08-30 02:48:16 PM
 
2008-08-30 05:48:57 PM
With $12,000 speeding tickets and marijuana made illegal Canada isn't helping itself.
 
2008-08-30 06:42:15 PM
Harper has done nothing but stifle the corrupt but effective management we endured under the librelllls. It really is odd to have one group so corrupt as to make nOrleans look legit, but also have them be the only group capable of running a large and complex economy because the other parties are like a pack rejects from the retard rodeo.


For those of you in the US who have trouble understanding Canadian pollitics, Imagine the Simpsons, yeah Diamond Joe Quimby is corrupt, but how much WORSE would Homer be? Well we voted him in to see how it goes. We are just about 3/4th of the way through that episode, effulence is about to meet ventaltor.


(Don't even talk to me about the NDP, they live in some kind of distant land deeply involved with elves and pixies)
 
2008-08-30 06:57:29 PM
Just came to say poutine is great.

And it's a shame that hasn't become popular in the U.S. as far as I know.

/Damn that stuff is good.
 
2008-08-30 07:12:20 PM
Meh. Only squeegee kids drink Black Label these days.
 
2008-08-30 07:14:35 PM
MIguy: I forget the exact number but something around 90% of all Canadian exports come to the United States. If we hit a full blown recession, they'll soon follow.

...and that's why Harper wants an election NOW, instead of following the "fixed-date" rule that he himself put into place.

Now what does that say about someone when they can't even be bothered to follow their own rules?..
 
2008-08-30 07:28:10 PM
MacEnvy: Malbar: MacEnvy: Harper sucks ass. Is it any surprise that a conservative would fark up the economy? It's not like in Alberta, where they have surplus natural resource revenue to prop up poor fiscal policy. Better get a liberal from BC in office to fix stuff up.


I can't tell if this is a troll or if you're just really dumb. Hopefully the former.

Mostly a troll, but I was also pretty drunk at that time last night.

Harper does suck though, I stand by that.


I'll put up with Mr. Personality over Mr. "my new tax won't hurt the economy" any day
 
2008-08-31 02:30:03 AM
Elvis Da King:

~snip~


I'll put up with Mr. Personality over Mr. "my new tax won't hurt the economy" any day




The liberals' big plan to save the Country/World = a carbon tax!

Think about that, it's a a sin tax by another name - use oil, pay a new tax (on top of the taxes already levied) on every drop.

One problem: this tax perpetuates the problem.

90% of Canadians can't afford a new more efficient furnace so they'll have no choice but to pay this new tax, making it even harder to save for a new, more efficient furnace.

The liberals would rather tax a necessity than come up with a solution to the problem.

Imagine.

I'm voting conservative this time around - boring as he is, at least Harper isn't for a punitive tax on the necessities of life.
 
2008-08-31 11:25:40 AM
tetzy:

90% of Canadians can't afford a new more efficient furnace so they'll have no choice but to pay this new tax, making it even harder to save for a new, more efficient furnace.


I've just put in a new efficient oil & wood furnace and am getting a kick out of this reply.

I've always voted Progressive Conservative, but I won't vote for Harper until he gets the "Progressive" part back in the equation. He is a neo-con in the worst sense of the word. Low taxes on the rich, higher for everyone else, has no problem with deficit spending, could give a rat's ass about the environment, will try to push through as many no-bid contracts as he can to party friendly companies especially for defence contracts, and in lock step with the current US administration as far as foreign adventurism.

All you have to do is look south to see what Canada could be after four years of a majority Harper government.
 
2008-08-31 12:30:20 PM
Any good the tax can do is being done in spades by the market.

So fark off and think about how to lower what you need to take and how to take it with the least damage to the economy.

I was in favor of a carbon tax at 30$ a barrel but not at more than 60$ and sure as hell not now.

Of course I wasn't for it to save the earth but rather to promote conservation of non-renewable resources and ease the pain of transition to other energy sources.
China, India and almost everyone in their shoes, are going to burn coal and nothing 30 million Canadians can do is going to matter.

I say keep the economy strong to deal with the problems that climate change will bring and more importantly to be able to take advantage of the benefits.
 
2008-08-31 06:12:03 PM
Big_Thumb: I've just put in a new efficient oil & wood furnace and am getting a kick out of this reply.

I've always voted Progressive Conservative, but I won't vote for Harper until he gets the "Progressive" part back in the equation. He is a neo-con in the worst sense of the word. Low taxes on the rich, higher for everyone else, has no problem with deficit spending, could give a rat's ass about the environment, will try to push through as many no-bid contracts as he can to party friendly companies especially for defence contracts, and in lock step with the current US administration as far as foreign adventurism.

All you have to do is look south to see what Canada could be after four years of a majority Harper government.


This, +1, would read again, etc.
 
2008-09-01 12:16:31 AM
Big_Thumb: tetzy:

90% of Canadians can't afford a new more efficient furnace so they'll have no choice but to pay this new tax, making it even harder to save for a new, more efficient furnace.

I've just put in a new efficient oil & wood furnace and am getting a kick out of this reply.

I've always voted Progressive Conservative, but I won't vote for Harper until he gets the "Progressive" part back in the equation. He is a neo-con in the worst sense of the word. Low taxes on the rich, higher for everyone else, has no problem with deficit spending, could give a rat's ass about the environment, will try to push through as many no-bid contracts as he can to party friendly companies especially for defence contracts, and in lock step with the current US administration as far as foreign adventurism.

All you have to do is look south to see what Canada could be after four years of a majority Harper government.


Here here! I really would consider a progressive conservative party led by a Joe Clark type figure! No way in hell am I going to vote for Harper.
/looks like I will be voting Lib again
//Wish the NDP were less crazy
///Red Tory ftw!
 
2008-09-01 12:44:47 PM
Meatzilla: For YEARS I've endured Canadians, among a plethora of other people
from other countries, wishing American's unwarranted harm and suffering

Careful what you wish for, you just might get it... biatches


No dude, that was just you that they wished harmed.
 
2008-09-02 02:31:45 PM
I googled Poutine, saw the pic and then threw up a little.
 
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