Canada In-Recession

[dalek]

People who voted Liberal work for the government. What happens to the real economy does not affect them in the slightest. I would not have people who get there paycheck from government vote until such time that they rejoin the private sector. Mind you that may leave very few electors in Canuckistan.

Work for the government, or get their cheque from the government. Put the two together and it’s a big chunk of votes

[helmsdale]

People who voted liberal will be slapping themselves once the economic malaise settled over the country. Good on them. All virtue signalling progressive fools can fn own it now. What a surprise to the left wing economic genius out there. You kill entire industries, tax the hell out of people, redistribute wealth to corrupt provinces and tada, your golden goose is cooked. What do you have left? Oh yeah green jobs. Well where the f are they? What a dark day for the country.

Speaking of golden geese...

[AlbertaFarmer5]

People who voted Liberal work for the government. What happens to the real economy does not affect them in the slightest. I would not have people who get there paycheck from government vote until such time that they rejoin the private sector. Mind you that may leave very few electors in Canuckistan.

You make it sound like that would be a problem? I would take quality over quantity anytime.

[fjlip]

Prior to roasted goose...

[furrowtickler]

And Trudeau is in hiding.....

Coward will hide till the end of March

[grassfarmer]

People who voted Liberal work for the government.....

Yep, then they get their pension, farm part time, winter in Florida and accuse everyone else of voting Liberal!

[MBgrower]

As much as I hate to say it some hard times especially in Quebec night wake enough people up that the current govt isn’t competent to handle the economy. Especially if they impose the carbon tax in 30 days. The Ides of March is only 2 weeks away. A bad luck day for corrupt over confident dictators. Ask Caesar.

with the economy on the verge of contracting we may not need a carbon tax, industrial and consumer activity may be reduced so much that hitting the phony carbon emission targets will be no problem at least in libtard Canukastan.

[westernvicki]

https://www.youtube.com/watch?v=_toqPJpyeGw

Worth the time.

[chuckChuck]

A lot of people on this site seem to have a short memory on what caused oil prices to go down while Harper was still in power.

Why did oil prices drop so much in 2014?

By Greg DePersio
Updated Jan 29, 2018

Oil prices have been one of the most watched trends in economics during the 21st century. From 2000 to 2008, the price of oil saw an unprecedented spike, going from under $25 per barrel to almost $150 per barrel. Rapidly increasing demand in emerging economies such as China and India and production cuts by the Organization of Petroleum Exporting Countries (OPEC) in the Middle East drove the price of oil to its record heights.

Shortly thereafter, a deep global recession throttled demand for energy and sent oil and gas prices into a precipitous free fall. By the end of 2008, the price of oil had bottomed out at $40. The economic recovery that began the following year sent the price of oil back over $100; it hovered between $100 and $125 until 2014, when it experienced another steep drop.

Numerous factors contributed to the 2014 drop in oil prices. Economies such as China, whose rapid growth and expansion created an unquenchable thirst for oil in the first decade of the new millennium, began to slow after 2010. China is the world's largest country by population, so its lower oil demand had significant price ramifications. Other large emerging economies such as Russia, India and Brazil experienced similar economic trajectories in the early 21st century – rapid growth during the first decade, followed by much slower growth after 2010. The same countries that pushed up the price of oil in 2008 with their ravenous demand helped bring oil prices down in 2014 by demanding much less of it.

Spurred by the negative effect of high oil prices on their economies, countries such as the U.S. and Canada increased their efforts to produce oil. In the U.S., private companies began extracting oil from shale formations in North Dakota using a process known as fracking. Meanwhile, Canada went to work extracting from Alberta's oil sands, the world's third-largest crude oil reserve. As a result of this local production, the two North American countries were able to cut their oil imports sharply, which put further downward pressure on world prices.

Saudi Arabia's actions also contributed to falling 2014 oil prices. Faced with a decision between letting prices continue to drop or ceding market share by cutting production in an effort to send prices upward again, the Middle Eastern country kept its production stable, deciding that low oil prices offered more of a long-term benefit than giving up market share. Because Saudi Arabia produces oil so cheaply and holds the largest oil reserves in the world, it can withstand low oil prices for a long time without any threat to its economy. In contrast, extraction methods such as fracking are more expensive and therefore not profitable if oil prices fall too low. By supporting low oil prices, Saudi Arabia hopes that countries such as the U.S. and Canada will be forced to abandon their more costly production methods due to lack of profitability.

[farming101]

What a poorly composed article. Produced for nothing I would hope. That's all it's worth

[chuckChuck]

What a poorly composed article. Produced for nothing I would hope. That's all it's worth

Is that because it doesn't fit with the story that low oil prices are all Trudeau's fault?

Many commodities outside of energy that are unaffected by a lack of pipeline capacity are also lower in price because of reduced demand.

The US and many other economies are better off when energy prices are lower. Canada and other large oil producing economies especially in Western Canada are somewhat worse off.

Lower fuel prices are definitely better for farmers and other energy dependent businesses. Or would you rather have higher oil prices so that the oil producers and refiners can make more money?

[farming101]

The world price of oil has never been set in Canada.
Demand for oil has never been higher than right now and the price for oil is a lot lower than the all time high, yet the commentary focuses on demand as the driver for oil prices. There are many other factors that go into the price of a barrel of oil.

[tmyrfield]

Canada's economy now at-a-halt . . . .

Released this morning . . . Canada's grew by just 0.1% in the 4th quarter, the worst quarterly performance in 2 1/2 years.

And these numbers are flattering as the only reason Stats Can was able to present a +0.1% number was build in company inventories as goods stockpiled. Canada likely already in a fairly deep recession (IMO).

Loonie under fire today . . . .

more good news
https://ca.finance.yahoo.com/news/canadian-dollar-slumps-gruesome-gdp-163313281.html https://ca.finance.yahoo.com/news/canadian-dollar-slumps-gruesome-gdp-163313281.html

[AlbertaFarmer5]

What a poorly composed article. Produced for nothing I would hope. That's all it's worth

The article isn't poorly written, it is cleverly, and purposefully deceitful, aiming at a target audience, who laps this stuff up because it fits their agenda, case in point with the cut and paste poster here today.

quote from the article: so its lower oil demand refering to China.

Does this look like lower demand to you?


And it grew by 150,000 Bbl per day in 2018, projected at 400,000 bbl/day growth in 2019.

[tmyrfield]

And just wait for 1st quarter U.S. data to be released . . . won't be even close to White House and Wall Street market expectations (IMO).

North American banks feeling-the-heat as consumerism, housing under intensifying financial microscope.

What you say sounds plausible, however those nasty little stats often get in the way

https://www.breitbart.com/economy/2019/02/13/manufacturing-wage-growth-hits-highest-level-in-over-a-decade/ https://www.breitbart.com/economy/2019/02/13/manufacturing-wage-growth-hits-highest-level-in-over-a-decade/