"OTTAWA — Canada's economy is set to post healthy growth in the second half of 2009 and recover at a quicker pace than previous downturns on the basis of, among other things, "substantial" fiscal stimuli from the federal government, the Bank of Canada said in its updated outlook Thursday."
http://www.ottawacitizen.com/Business/Bank+Canada+sees+quick+recovery/1206284/story.html
So there you have it. A dash of stimulus, a pinch of Southern Magic and presto! And you were worried.
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He's making an assumption about the U.S. economy getting back on track in the next 6 months. Goes against what the American economists are predicting. They don't see a turn around until next year. U.S. buys 70% of Canada's exports. You do the math.
ReplyDeleteThe only country with a half decent GDP this year is Brazil, 2-4% according to Bloomberg. China will be struggling. Britain has dug a hole for itself that's turned into quicksand. Europe? Cherry pick some countries.
Sorry you have to moderate. Hey Bill!! Waying at ya!
Nice to see all that optimism even if it`s medication induced visions. I notice they still havn`t considered the likely possibility of failure but are focused on some imaginary recovery based on government spending. I`ve looked back on the BoC comments over the last decade. The closest they came was in the fall of 2001 and although the outcome was close the reason were right out in orbit.
ReplyDeleteGa day Dee, I wish I didn't have to moderate either. A lot of comments come in during the night, after the old Comrade has gone nighty night and won't get screened until morning. That is not what I was hoping to achieve.
ReplyDeleteApparently the BOC's latest rate cuts aren't instilling much confidence in the markets. Financials are still taking beating.
ReplyDelete