Canada is in RECESSION !!!!

[carl321]

Are we all screwed

Link: http://www.businessinsider.com/canada-in-recession-2015-9?utm_content=bufferfc67a&utm_medium=social&utm_source=facebook.com&utm_campaign=buffer

 

[karinaS]

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

 

[m_dewan33]

This isn't news! Its common knowledge, even for outsiders! (those who keep themselves updated)

 

[JK_CAD]

I think it's nothing to worry about. It's a minor set back but it will not affect immigrants unless they start cutting jobs and the processing time increases. But overall, we are not screwed.

 

[bestofluck]

nothing can be worse than India. where an masters degree would not fetch money enuf to build aa house in ur entire life!. Imagine a 2 bedroom house cost 70 lakhs in India. Who will save that much in one life. The recession you are narrating is nothing

 

[A-man]

nothing can be worse than India. where an masters degree would not fetch money enuf to build aa house in ur entire life!. Imagine a 2 bedroom house cost 70 lakhs in India. Who will save that much in one life. The recession you are narrating is nothing

Sounds like a housing bubble in India. The moment people can't afford to buy houses anymore, it blows up (just like how it happened in the U.S and Japan). Toronto is starting to show signs of a bubble in housing prices. Now that bank of Canada lowered interest rates, doesn't help the case either.

 

[mf4361]

don't blame the economy, blame Harper

 

[mead]

don't blame the economy, blame Harper

so true...look at the state of infrastructure...supply chain is a mess...no projects

 

[iwasjeff]

What is so surprising about Canada being in recession?

Oil is a huge factor in Canadian economy. Having the oil price tanked more than half when compared to last year will obvious bring the economy down.

It will take time for it to bounce back.

I would say Canada is one of the safest country in terms of economy b/c we have so much resources that others wish that they had.

Is it surprising to you that China isn't doing so well too?

 

[kateg]

don't blame the economy, blame Harper

Blame Oil. Russia has a fair amount to do with that, as do the Saudis.

 

[haceeb]

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

 

[kateg]

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

Which is why governments should tax the good years and spend the bad. Keep the bubble from getting too big, save some money in the meantime, help avoid a big crash.

Unfortunately, governments like to do the reverse. Cut taxes in good years, cut spending in bad.

 

[Nick~Nick]

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

Well Said!!

 

[Asivad Anac]

Which is why governments should tax the good years and spend the bad. Keep the bubble from getting too big, save some money in the meantime, help avoid a big crash.

Unfortunately, governments like to do the reverse. Cut taxes in good years, cut spending in bad.

Because good economics is rarely good politics.

 

[mf4361]

Blame Oil. Russia has a fair amount to do with that, as do the Saudis.

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.