New stimulus seen if recession hits Canada: Flaherty

New stimulus seen if recession hits Canada: Flaherty

ca.news.yahoo.com

TORONTO (Reuters) - Canada would consider fresh stimulus for its economy if it slipped into recession, its finance minister said on Saturday, a move that could complicate plans to return to a balanced budget by 2014/15.

"It will take economic contraction," Finance Minister Jim Flaherty said in an CBC Radio interview when asked what it would take for the government to suspend its budget-cutting policies and start stimulus spending again. "It would have to be the oxymoronic word 'negative growth.'"

(visit the link for the full news article)

Canada is in a good position as it seems, we have a lot of natural resources a lot of the world wants, and our largest trading partner is the US as they usually want a lot of our resources, but we are still reliant on China.

I don't know if Canada could get hit by a recession, and a stimulus package can be a waste of money sometimes if it isn't spent correctly.

ca.news.yahoo.com
(visit the link for the full news article)

Too:
The Hon. Minister of Finance,
T.R.H Mr. Flaherty,

It is at this point , being a Cape Bretoner, I do feel like calling you Jimmy Boy
But I will not, do no such thing, as it may confuse the ,, audience
Big smile,, sure loved too hear Trudeau, at press time
But i digest most of his , meaning
More too the point,
Now would be a good time for the Canadian Dollar too Decouple itself, from the Crown.
Thank- You.
A Canadian.
If you wish too discuss this further i invite u heare too, disuade me from my opinion,,

Me.

With that said there were news stories floating about where the Monarch was thinking about kicking Canada off the commonwealth.

Gee our political establishment is full with economic keynesian fools... GET A CLUE, STIMULUS PACKAGES DON'T WORK... they are just political payoffs.... just like in the US.

NO STIMULUS PACKAGE. Cut taxes of the middle-class instead!!!!!!

Originally posted by hypr2011
With that said there were news stories floating about where the Monarch was thinking about kicking Canada off the commonwealth.

Won't happen. Unfortunately. Those SOBs calling themselves royalty can go to hell. If we could vote to get the hell out of the commonwealth, we would do it in a heartbeat.

The ``queen`` and her rotten family can go to hell.

reply to post by hypr2011


A another round of stimulus for US Here in Canada wont do any Good, people who already lost jobs have no luck finding a new one, college education wont do you any good unless you got connections, experiences.


As for people who have a job they are still holding on with work overload, but how long till they are replaced?

I agree that we are in one of the better global financial situations out there, but that has nothing to do with the act s of the Harper gov. First I doubt they'll do anything that the u.s. Won't do first, that has been harpers play card after all.

I also agree that stimulus spending would do nothing to improve what ever situation lies ahead regarding the global economy. If money of some kind is to be spent it should be through tax cuts to the middle class. At least the populations would be provide with provisions, if you will. To help cushion the possible effects of the situation in the states and else where.

i don't know why everyone keeps talking about the "middle class"...there hasn't been such a thing, since the early 80s, and there won't ever be, again

People who say we're not in a recession need to live my life. Little pay, expensive utilities.. food is even more costly. This isn't a land of roses, Harper picked them all to send to other countries and now we're left with the thorns!

It's not just me either, 6 of my friends have closed their businesses in less than a year, one of which lost her house. No one is spending money on "frivolities" anymore. People's employment insurance is running out, they're having to go on welfare.. not many jobs and for the few that are, it's FIERCE competition for them.

So, if they're not admitting to our pickle, that's ignorance.. the fact is that more people are becoming homeless by the day, and going to bed hungry at night!

reply to post by moonweed


I disagree. It is certainly shrinking, but does exist. There is a huge element of the population that is not wealthy, nor are they poore. Thay are bring in enough money per year to keep up on a motgage, and rais a small family. That is by definition a middle class. Again it is shriking but to say it has disappeared 30 years ago I think is pushing it. This situation for the middle class is far better in Canada then the states though.

reply to post by Invariance


I'm not saying things are great here, absolutely we are suffering a rescission, as the whole planet is. There are way to many people out of work, and unable to fund their lives in a comfortable way. Still we do have our healthcare system which is far from perfect but way better than the U.S., and our banking and real-estate is also in a much more stable situation.

Again I think this has nothing to do with anything Harper has done. I dislike him and his policies. If anything he seems to want a more Americanized version of Canada. I think that would be huge mistake.

Things are very difficult all over the world right now, and unfortunatly it seems to be a time when we look at how things could be a lot worse instead of how things could be much better. I don't like it, but the situation is what it is.