Wednesday, December 12, 2012

This will be the Regime's Primary Alibi followed by the EU crisis when the Canadian Economy Sinks into Recession

Canada faces near-recession if U.S. plunges over ‘cliff,’ Carney warns 

“Carney warns of risk from U.S. Bank of Canada Governor Mark Carney has warned that a failure by U.S. politicians to reach a new budget agreement before time runs out would push Canada close to another recession… the bank warned that Canadi
ans are still borrowing at a faster pace than their disposable income, making them more vulnerable if they lose their jobs or home prices tumble. The ratio of household debt to gross domestic product now stands at a record high 163 per cent, up from 161.5.”

Let us not forget, however, that the Canadian economy in and of itself has not been managed well by this extreme neoliberal government that has consistently placed investors, the financial sector, natural resource exports, and free trade before the real industrial domestic economy. wage fairness, and job creation for the middle and working classes. A 163% household debt/GDP ratio is also indeed worrisome as is the fact that whatever equity most Canadians have is inextricably bound to their still mortgaged houses. Get ready.

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