Canada Now In-Recession

[errolanderson]

This should be of no surprise but . . .

Canadian GDP released this morning for the month of May at -0.2%. This is the 5th consecutive month of declines.

Now we can sit back and watch for the housing market declines in the overheated markets of Toronto and Vancouver.

[SASKFARMER3]

Yes we are in a Recession. Oil dropping like a stone etc.
Could be interesting couple years and then theirs the up coming election.

[errolanderson]

SF3 . . . U.S. dollar dropping like a stone this morning due to disappointing U.S. wage data.

Ms. Yellen will not be increasing rates anytime soon. U.S. will be next to enter the recession world.

[SASKFARMER3]

I never really got why she was trying to say every thing is good and we have to increase our interest rates.

[farmaholic]

How can everything grow for ever? Couldn't it be looked at like a cycle? How many times over the last century was there economic recession. Why the big deal? Explain.

[farmaholic]

<a href="http://photobucket.com/" target="_blank"><img src="http://i1166.photobucket.com/albums/q605/yip2/525px-GDP_growth_1923-2009.jpg" border="0" alt=" photo 525px-GDP_growth_1923-2009.jpg"/></a>

[ado089]

It was a Bluff. If the government fed needed to raise rate it would indicate strength. The Bluff will be called.

[errolanderson]

IMO, the U.S. has never recovered from the 2008 financial crisis.

Rather, the American economy was primarily supported by the Federal Reserve policy, which doesn't create any economy, but can buy time.

Now the U.S. has to stand on its own two feet proving to the world the recovery is actually real. That is the corner Yellen has painted herself in (IMO).

It's now 'go big', or 'go home' time for the Fed . . . .

[farmaholic]

Chart was from Wiki and here is the explanation:

Annualized GDP change from 1923 to 2009. Data are annual from 1923 to 1946 and quarterly from 1947 to the second quarter of 2009.

[grrrr]

Errol.... I agree 100%. False economy for years. Bubble ready to break.

[vvalk]

Isn't the U.S. Dollar up compared to the Canadian dollar this morning?

[perfecho]

And I remember ...not sure when....the gov announced they were lowering interest rates to get help equities.... now they can't go the other way.
Wonder who lobbied this setup?

[sumdumguy]

A robust economy doesn't need zero-interest money. Stagnant due to what? Confidence in the leadership? Not!

[fjlip]

Billionaires are making a killing, no matter what the economy. Then they dictate to Gov's to make policy to make more $$$!

[stonepicker]

No recession in MB. imo, the prov. never prospers so we really don't lose much. We're at the low end of the totem pole. The exception is morden,winkler area, they almost always do well ( good mennonite work ethic ) again imo.