Canada is in RECESSION !!!!

[iwasjeff]

Because oil play is more international politics (mostly between USA and Saudis) than global demand/supply and Canada has relatively little say in it.

However, by over-relying on oil industry and refusing to diversify the economy countrywide puts Canadian economy at jeopardy.

Just to add a bit on this:


Yes it more of international politics issue but it's consequences brought where Canada is today. Canada has little say in it, doesn't mean it has little impact from it.

Due to oil market crashing, so many people lost jobs in Alberta and their market nearly crashed as well. This then indirectly impact CDN currency which then puts huge pressure for Canadian economy.

 

[Alina.Taranenko]

Hi!
You guys should try to live Ukraine, to estimate well all the benefits)))

 

[mf4361]

Just to add a bit on this:


Yes it more of international politics issue but it's consequences brought where Canada is today. Canada has little say in it, doesn't mean it has little impact from it.

Due to oil market crashing, so many people lost jobs in Alberta and their market nearly crashed as well. This then indirectly impact CDN currency which then puts huge pressure for Canadian economy.

That's what I said. Harper put Canada in a position where many people's job and livelihood depends on diplomatic situation where Canada has little control.

And actually we are just producing lots of oil, not oil products. Have Canada put more effort in building oil refineries, we would have been a lot less hit by oil price. (To oil drillers and producers, crude oil is revenue. To refineries, crude oil is a cost)

 

[mead]

That's what I said. Harper put Canada in a position where many people's job and livelihood depends on diplomatic situation where Canada has little control.

And actually we are just producing lots of oil, not oil products. Have Canada put more effort in building oil refineries, we would have been a lot less hit by oil price. (To oil drillers and producers, crude oil is revenue. To refineries, crude oil is a cost)

I am not supporting Stephan Charper but refining cost is high for oil sands and has lot of environmental impact

 

[uxd]

I think Canada needs to promote competence and innovation more in workplaces. Hiring needs to be unbiased and purely based on intelligence, not on PR or Canadian Exp. Canadian employers tend to focus on hiring immigrants because they are cheap labor but this practice needs to stop. Give money to ones who deserve it irrespective of their permit statuses. There is a reason why companies like Blackberry, Nortel, Sears, Target etc have failed here even after establishing themselves. Learn from silicon valley.

 

[torontosm]

That's what I said. Harper put Canada in a position where many people's job and livelihood depends on diplomatic situation where Canada has little control.

True, but I didn't hear too many people complaining during 2008 and 2009 when the rest of the world's economies were falling apart but Canada's wasn't.

 

[ttrajan]

Most of the companies in Alberta are laying off people now due to oil recession. Hope it will improve from next year.

 

[ullu_ka_pattha]

After Oil, water is the new natural resource in limited supply. Canada, by virtue of having the largest fresh water reserves (60% of all world's lakes are in Canada) and icy northern areas that will form water with global warming, stands to gain most in the decades to come.
Next set of global skirmishes won't happen over Oil, they will happen over clean water.

Unlike other OPEC countries, Canada, along with Oil reserves, also has a lot of water and this puts it in a unique and commanding position for the future!

Current recession is a small matter and I believe only a blip in a very strong and high potential economy.

 

[Rahul12]

I think Canada needs to promote competence and innovation more in workplaces. Hiring needs to be unbiased and purely based on intelligence, not on PR or Canadian Exp. Canadian employers tend to focus on hiring immigrants because they are cheap labor but this practice needs to stop. Give money to ones who deserve it irrespective of their permit statuses. There is a reason why companies like Blackberry, Nortel, Sears, Target etc have failed here even after establishing themselves. Learn from silicon valley.

Cheap labor? what?

 

[Dennia]

Recession is an essential part of capitalism. You have to empty the glass once in a while.

Very True

 

[uxd]

Cheap labor? what?

Yes surprise surprise!
Unlike US, where immigrants for eg Indian diaspora has the highest avg income. In Canada, it is totally a different scene. Here, you are treated not as a competent intelligent person, but as a cheap labor who is willing to work for less because employers know you can not sustain for very long w/o a job . In most cases, you would start at the most basic level if you are able to find a job (avg search time would be 6 months). Plenty of people here who are doctors, engineers etc. and are working as a bus/taxi driver. This is the reality.

 

[YamPower]

After Oil, water is the new natural resource in limited supply. Canada, by virtue of having the largest fresh water reserves (60% of all world's lakes are in Canada) and icy northern areas that will form water with global warming, stands to gain most in the decades to come.
Next set of global skirmishes won't happen over Oil, they will happen over clean water.

Unlike other OPEC countries, Canada, along with Oil reserves, also has a lot of water and this puts it in a unique and commanding position for the future!

Current recession is a small matter and I believe only a blip in a very strong and high potential economy.

Sensible post!

 

[pfse]

Hi!
You guys should try to live Ukraine, to estimate well all the benefits)))

Некоторым бесполезно что-то объяснять. Сытый голодного не разумеет...

 

[kateg]

Because good economics is rarely good politics.

*sigh*. Agreed.

 

[carl321]

Nobody forced you to be here... when so many people including me worry about their PR, crying over economy is so annoying. I lived here for 4 year, like lots of inland applicats. My life is here. I do not care about recessing now, I was PR. Inland applicants have jobs that they had for years.... You can blame me, but inland applicants decerve PR way more than ouland, who complain about job markets

Seriously wrong place to complain

firstly, calm ur titties... no one is complaining here.. just trying to be more educated on the matter.
after all everyone is looking for green pastures. Inland or outland is not even relevant; when there are so many refugees who deserve to be there more than anyone of us. So its not about who got there first. Try to think from your brain and not via ur keyboard mate.