[jade_lee]

I think the worlds economies moved in unison with the move to low rates and deficit financing. And I think it is not a solution but rather a deferral of the rebalancing of our economies over a longer period of time. Sometimes it's better to crash slowly, rather than all at once.

However, I have serious misgivings with our present government's directives (both published and implied) to the CMHC. I think it is politics, rather than management and leadership. And I think that history will not be kind to our present government.

I agree. Supporting our delayed real estate bubble is not a good thing.

 

[shumoon]

I have a feeling many people posting in this thread don't know the definition of recession.

Here is the definition I always follow:

When the guy next to you loses his job, it's a recession.

When you lose your job, it's a depression.

We can argue about deficits, stock prices and GDP, but if people aren't gainfully employed, then the economy isn't working for them.

 

[afransen]

No offense, but that's meaningless. There is always someone out of work, therefore there is always at least a recession, and to that person (and therefore everyone) a depression.

 

[shumoon]

^I understand your point. I should clarify that if there is someone in your social circle that you know is out of work, then the economic picture doesn't look so good to you. If someone in your workplace gets axed, then you worry that you're next. If your neighbour can't sell his house, then you worry about your property's value. I was not referring to someone anywhere out of work, but someone in your immediate vicinity, someone you're familiar with. If this phenomenon is experienced nationwide, then indeed you can say the country is in recession.

This thread is about the national recession. Even if Canada enters an economic expansion now, at the same time there can be a province or city or neighbourhood where there is no growth and therefore recession or depression. Indeed, some communities in Canada have seen no gains in employment for several years, maybe even decades. This is a depression for them, not merely a recession. For them, the talk about national deficits, GDP and stock prices that have dominated this thread are what is meaningless. While the nation recovers, their economic situation won't improve until they get jobs.

 

[jade_lee]

Core inflation numbers are published this coming week......I think they will reflect a business class that is out of touch with reality.

 

[doady]

Brampton Transit ridership seems to have finally recovered to normal levels in November and December, after a huge loss in September and minor losses throughout the rest of year. Overall ridership loss in 2009 was only -0.25%. York Region Transit and VIVA on the hand only recovered partially October, November and December, after huge losses throughout the summer and the overall ridership loss was -2.7%. Thee numbers seem to indicate the recession has ended or is ending.

 

[kEiThZ]

^ I'd be more worried about a double-dip. I think that's coming when the credit bubble we have here in Canada hits a wall and starts to deflate rapidly.

 

[urbandreamer]

^Double dip (is that a Tim Horton's donut? It should be. ) coming soon, hang on tight it's gonna be fun.