Canadas Economy Stars At G-20 Summit

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Brain -> Canadas Economy Stars At G-20 Summit (6/29/2010 8:00:54 PM)
FTA: Strong regulation and conservative lending practices by Canadian banks also helped, he says. Canada is developing a knowledge based economy and the currency of the future is ideas. Canada's Economy Stars At G-20 Summit As leaders of the world's wealthiest nations gather for Friday's G-20 summit in Toronto, some of them might be just a bit jealous of their hosts. Canada has come out of the financial crisis in better shape than most other rich economies. Its economy grew at a 6.1 percent pace in the first quarter — double the rate of the U.S. economy. "The Canadian economy has really snapped back from the recession," Craig Alexander, chief economist at Canada's TD Bank, tells NPR's Steve Inskeep. A number of factors helped Canada rebound. http://www.npr.org/templates/story/story.php?storyId=128090892

Fellow -> RE: Canadas Economy Stars At G-20 Summit (6/30/2010 12:05:08 AM)
This is what the "Chief" economists say. Regretfully, the reality is quite different. I hope Canada will slide slowly into lower standard of living without a major crash. Many real economists think the financial crash in near future is certain considering the economic indicators. The commodity export industry does not employ many people across Canada. Unemployment, public debt and high cost of housing is putting increasing pressure on people in most areas. Povery rise is visible everywhere. Check these numbers out: http://globaleconomicanalysis.blogspot.com/2010/05/hosed-in-canada-housing-crash-is-given.html quote: In Toronto, 44% of disposable income goes to housing and in Vancouver the figure is a whopping 68%. In my impression, the expected average house price drop in Canada in coming two years is predicted around 35% range. It is not a secret, most house owners here (Vancouver) are expecting it. Many try to unload properties before it is too late. In North Vancouver where I live every block has several sale signs up.

Brain -> RE: Canadas Economy Stars At G-20 Summit (6/30/2010 1:45:14 AM)
Housing prices go up and they go down but in the long run in Canada they go up. Price increases in Canada have risen steadily and as such I think the declines will be modest. Unlike the United States which experienced sharp increases and sharp declines. Also, homes with escalating interest rates were not marketed or pushed in Canada by unethical salesman on unsuspecting consumers; that shit just doesn’t go on up here. So in a nutshell, all this and the sustained economic growth described below which will mitigate rising interest rates and Canada will avoid a financial crash. Bill RBC Economics Research Market Updates (Canada) http://www.rbc.com/economics/market/index.html Housing Affordability(puff) A quarterly report pinpointing cross-country trends in housing affordability in provincial and major metropolitan housing markets. http://www.rbc.com/economics/market/index.html HOUSING TRENDS AND AFFORDABILITY May 2010 Affordability erodes again in the first quarter of 2010 Sustained economic growth in Canada during the remainder of 2010 and 2011 is expected to support steady job creation and income gains. This should partially mitigate the effect of rising mortgage servicing costs on family budgets http://www.rbc.com/economics/market/pdf/house.pdf

LadyEllen -> RE: Canadas Economy Stars At G-20 Summit (6/30/2010 2:17:27 AM)
A knowledge based economy? I just love that, its the same one they peddle over here. Only problem of course is that Chinese, Indians etc all have ideas too and when they leave university at a rate of one hundred to every one western graduate it aint difficult to see where R&D, design etc are going to be headed in short order, and it aint difficult to see who's gonna be coming up with the ideas. Maybe, in 20 years or so when our standard of living has become sufficiently low and student debt has deterred a generation of us from higher education, theyll build factories here for us to manufacture products designed by them for their markets. E

Fellow -> RE: Canadas Economy Stars At G-20 Summit (6/30/2010 2:26:07 AM)
I would not put too much trust into the analysis and predictions banks give. They do have vested interest to spin things certain way. The most commonly they paint things better than reality. The good thing with Canada is there have not been many subprime loans. Although, there is high percentage of barely affordable loans. So, as RBC thinks the ownership of housing becomes increasingly unaffordable, it is time to invest in rental properties.

pahunkboy -> RE: Canadas Economy Stars At G-20 Summit (6/30/2010 6:25:53 AM)
I am happy for them. Tho they have some high taxes.

willbeurdaddy -> RE: Canadas Economy Stars At G-20 Summit (6/30/2010 12:54:48 PM)
Since about 75% of Canada's exports are to the US, the Canadian economy ultimately has to reflect conditions in the US. And speaking of unintended consequences. if the US does find a breakthrough that makes it more energy independent, where does that leave Canada, the largest supplier of US energy imports? Face it Brain, Canada is a suburb of the US and our bitch in everthing except hockey (including the Canadian national game).

Fellow -> RE: Canadas Economy Stars At G-20 Summit (6/30/2010 1:41:51 PM)
quote: Only problem of course is that Chinese, Indians etc all have ideas too and when they leave university at a rate of one hundred to every one western graduate it aint difficult to see where R&D, design etc are going to be headed in short order, and it aint difficult to see who's gonna be coming up with the ideas. Just a comment: I heard there are hundreds of thousands Chinese recent university graduates jobless. They live in slums close to big industrial centers trying to survive on some simple jobs (like piecework code monkeys). They are known locally as "ants". Quote: "Prof. Lian estimates that more than 100,000 college graduates already live in “settlement villages” on the periphery of Beijing. Their life “is pretty tough,” he says." http://blogs.wsj.com/hire-education/2010/05/04/chinas-ants-go-marching-by-the-thousands/ Sadly, this is how the "global village" paradise looks like when we take a closer look.

subbisherri -> RE: Canadas Economy Stars At G-20 Summit (6/30/2010 1:47:45 PM)
Willbeurdaddy: We're bigger AND we're on top. If this was prison, you'd be OUR bitch!

Moonhead -> RE: Canadas Economy Stars At G-20 Summit (6/30/2010 1:48:05 PM)
quote: ORIGINAL: willbeurdaddy the Canadian national game Mooseback jousting? Didn't think anybody did that in the 'States. As for exports, apart from lumber, most of that's going to the gopvernment rather than private industry. I doubt you're suddenly going to stop paying for electricity from those hydroelectric plants on the other side of Niagra, to pick the most obvious example. It's shitloads cheaper than the oil you're paying the ~~jihadists~~Arabs for, after all.

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