Consumer spending picked up in the fourth quarter of 2007, boosted by a 4.3% jump in motor vehicle purchases, higher travel spending abroad and increased purchases of air transportation. Business investment in machinery and equipment continued at a strong pace.
The output of the service industries expanded 0.7% in the fourth quarter, while the goods-producing industries contracted 0.9%. Wholesale and retail trade, along with utilities, recorded the strongest growth.
The finance and insurance sector, construction, forestry, and accommodation and food services also contributed to the overall increase. These gains were partly offset by declines in manufacturing, mining and selected transportation industries.
Corporate profits were up slightly (+0.5%), well short of the pace set in the previous three quarters. Labour income registered a strong fourth quarter. Employment and average earnings continued to grow in the quarter.
The Canadian economy grew at an annualized rate of 0.8% in the fourth quarter, compared with 0.6% growth for the US economy.
http://www.statcan.ca/Daily/English/080303/d080303a.htm
Stumble It!
The best racket and con job in human history, forced on the public by stupid and crooked governments.
With bank deregulation "creating" virtually unlimited capital and the accompanying gross inflation in certain sectors, then charging interests on nothing, how can they go wrong?
And how long is humanity going to put up with this crime wave, causing incredible environmental and human damage? When will people start realizing that the growing homelessness, foodbank lineups and enslavement problems are the direct result of the inflation of the money supply into the hands of special interests.
With bank deregulation money became a licence for the control of energy, issued by a special interest sector for its own benefit.
Ed Deak.
As to the OP, its hard to believe that if America is going into a recession, Canada will escape one.
I've grown weary of debunking posts like the two above this one.
As to the OP, its hard to believe that if America is going into a recession, Canada will escape one.
We escaped the last US Recession after 9/11, but this one looks to be shaping up into a doozy. So it will be very difficult to avoid this one.
Harper has spent the cupboard bare up here already. His fellow economists are laughing at his incompetence even as they line up at the trough and scream for more.
Just more low-wage Conservatives trying to convince us all to work harder for less money so they can keep on pretending that it's possibly to have infinite growth with finite resources.
Ah, the more Conservative a government, the worse the economy and the bigger the debts. Bush in the US. Devine in Saskatchewan. Look at Reagan...biggest increase in debt in US history before Dubya came along.
Harper has spent the cupboard bare up here already. His fellow economists are laughing at his incompetence even as they line up at the trough and scream for more.
Just more low-wage Conservatives trying to convince us all to work harder for less money so they can keep on pretending that it's possibly to have infinite growth with finite resources.
American "Conservatism" has turned into a farce. It's been that way ever since Reagan was Elected and implemented Reaganomics.
They all end up in trouble with the law in the end too. Their greed for money and power leads them into criminality.
Having lived through Grant Devine, Gary Filmon, Brian Mulroney, and now Steve Harper, I fail to see a lot of difference between Canadian conservatism and their brethren to the south. They all tell people people to pick themselves up by their own bootstraps. That is followed by an immediate confiscation of all footwear.
They all end up in trouble with the law in the end too. Their greed for money and power leads them into criminality.
There are some similarities to be sure, but on Economic issues Canadian Conservatives haven't gone stupid like their American counter parts.
They basically want to keep labour costs (wages and benefits) as low as possible and cut any social programs that might allow people some breathing room should they become unemployed. They look at education strictly as employment training, like having a thinking population is threat. They consider the arts only as a threat to their "family values" or a resource to be exploited. They consider our natural resources nothing but a short-term asset to be auctioned off as quickly as possible. They consider nature itself as something to be conquered and the environment as an inconvenience that can be either paved over or used to shoot fishing shows in.
They are low-wage conservatives on either side of the border.
Haven't they? They haven't had as much freedom to do so because there is an effective left, and the worst effects of Conservative have been mitigated by our resource wealth, but their economic theories are basically the same.
They basically want to keep labour costs (wages and benefits) as low as possible and cut any social programs that might allow people some breathing room should they become unemployed. They look at education strictly as employment training, like having a thinking population is threat. They consider the arts only as a threat to their "family values" or a resource to be exploited. They consider our natural resources nothing but a short-term asset to be auctioned off as quickly as possible. They consider nature itself as something to be conquered and the environment as an inconvenience that can be either paved over or used to shoot fishing shows in.
They are low-wage conservatives on either side of the border.
hehe, well we'll have to disagree on how similar the 2 are. If it's any consolation, recent Cadman and some other issues might just sink Harper. Although I doubt he will be totally sunk unless the Liberals have a Leadership change.
I've grown weary of debunking posts like the two above this one.
As to the OP, its hard to believe that if America is going into a recession, Canada will escape one.
I'd like to see that. I'm not being an ass here, just that Ed is an 80+ year old man, who was once a sniper in the Czech army during WWII. He spent a lot of time at Oxford University after the war.
He has a very unique perspective, and a lot of information and experience backing up his position. I think he's one of the ++'s that will come from the co-operation between Vive and CKA. Read what he writes, we can all learn much from him.
I've grown weary of debunking posts like the two above this one.
As to the OP, its hard to believe that if America is going into a recession, Canada will escape one.
I'd like to see that. I'm not being an ass here, just that Ed is an 80+ year old man, who was once a sniper in the Czech army during WWII. He spent a lot of time at Oxford University after the war.
He has a very unique perspective, and a lot of information and experience backing up his position. I think he's one of the ++'s that will come from the co-operation between Vive and CKA. Read what he writes, we can all learn much from him.
First of all, way cool that he was a sniper in WWII. That's awesome.
There are serious problems in the financial system. From my perch, I see it everyday, and have made and continue to make money betting on the financial meltdown and its after-effects that are occurring now. A few days ago, I was asked to move into a position to help restructure a department that has found itself involved in these structures that are imploding. So, as an active participant, I understand the underlying arguments regarding the system Ed is making.
And I agree with a few premises, including that the gains from financial dealings are internalized by insiders but the losses are often externalized throughout society, and that the system is inherently inflationary.
However, the apocalyptic rhetoric is hyperbolic. Linking today's "special interest" fiat monetary system to environmental degradation, foodbanks, control over energy and "enslavement" is hard to take seriously.
You like to paint us all as uneducated loons too simplistic to understand, but we can explain our position. Can you, Toro, explain how infinite growth can occur within an infinite system?
Never mind that though. You have cheered Thatcher and Reagan. According to them, their voodoo economics would make us all richer, yet the gap between rich and poor has grown under their policies and the middle class is bleeding people and money. Their thesis, one you have agreed with, if it were at all scientific, would have failed. It would have to be discarded. it is unsupported by the results of their experiment.
How long have I been waiting for a coherent answer about why corporations aren't made to pay for the environmental costs they impose on the rest of us now, Toro? I didn't think it was that hard a question when I first asked it, but it's been a while now and you've never come up with a simple, or even complex, coherent answer.
You like to paint us all as uneducated loons too simplistic to understand, but we can explain our position. Can you, Toro, explain how infinite growth can occur within an infinite system?
Never mind that though. You have cheered Thatcher and Reagan. According to them, their voodoo economics would make us all richer, yet the gap between rich and poor has grown under their policies and the middle class is bleeding people and money. Their thesis, one you have agreed with, if it were at all scientific, would have failed. It would have to be discarded. it is unsupported by the results of their experiment.
I saw a really good Documentary on Externalizing Costs. Don't remember what it was titled, but I think it was on Google Video.