The Conservatives Have Steered Canada Into a Preventable Recession

Bank of Canada Governor Stephen Poloz didn’t actually use the “R” word: recession. But his monetary policy report last Wednesday said it all the same, using numbers instead of words. By projecting that Canada’s economy shrank 0.5 per cent in the second quarter of 2015 (following a similar decline in the first quarter), the Bank joins a growing list of others who have concluded that Canada’s economy is now in recession (traditionally defined as two consecutive quarters of negative growth).

How far has Canada’s economic star fallen? Only recently Prime Minister Stephen Harper boasted that Canada’s economy was “the envy of the entire world.” That claim was always overstated. Now it is downright ludicrous.

http://www.huffingtonpost.ca/jerry-dias/canada-self-inflicted-recession_b_7832420.html

Advertisements

Tags: ,

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


%d bloggers like this: