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  Canada Immigration Forum > About Canada > Business > Are we headed for another recession?
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Are we headed for another recession?




Europe debt crisis is moving from Greece to Spain and Italy.. Even if these countries manage to pull their heads up , they will have to cut spending and will in turn cause a economic slowdown.


US budget deficts have gone out of hand and economy is getting propped up artifically by printing money and keeping interest rates low.

US EI claims are up.

Canadian debt level has been marked as a concern by Bank of Canada.
Analyst are weary of housing collapse in canada as a reason to stay away from canadian banks

I work for a large Canadian company and my company is letting go a lot of contractors.. and probably full time people in 2 months time even though our profits are not down.

Most people getting laid off say job market is very though right now.


Indian rupee is depretiated from 43 to 46 range to 51 to 53 range against the US$.



Do u guys think Economic signs are all pointing towards another recession?


 
dudewheresmycar

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Post ID: 195171 12-04-12 11:22:15
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tamilkuravan
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Sorry to hear the news.
Indian economy is going great guns, but please donot come to India and spoil the place.
I just now read in THE HINDU that Greece is going through a second recession in 3 years.
However, I donot expect any IT jobs to disappear in Canada per se but may be hiring may be slow. Other jobs were hard in Canada anyways even prior to the recession (esp. for new immigrants).
anyways the river will find a course to run. May be a war with Iran may stimulate the US economy and guarentee petroleum supply for the next 100 years and economy may go great guns. You never know.

peace

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I am a Gents and not a Ladies.

 
Post ID: 195176 12-04-12 12:30:53
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ashedfc
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While Europe is falling apart, specially PIIGS (Portugal, Italy, Ireland, Greece & Spain), they are being propped by ECB money printing (named as LTRO 1 & LTRO 2). But the impact of this is causing France, Belgium, & other non PIIGS European to get into trouble.
The Hindu's report of 3yrs for Greece is too long time frame, because by 3yrs it will the US turn to take the burnt of this excess money printing.
Meanwhile Japan bond market is being propped up by China (as they are now gradually moving away from US bond market). Japan is another problem area which will surface sometime in the future.
Not to forget UK is in another worst situation, waiting to explode, inflation has already started making its impact in UK.

Regarding recession in the near future.. Keep I mind as long as money printing continues, there will be no recession; only when austerity starts recession is a given.
Alternatively, if/when US/Israel go to war with Iran (& Russia/China comes at Iran's rescue), oil will shoot above 200$ per barrel or even more; that will for sure cause a recession (maybe worse than recession, probably a depression: so let's hope & pray these guys come into their sense & avoid another war, which seems inevitable).

Long term there are only 2 possible outcomes:
1. Severe recession, so this mountain of global debt at govt. corporate & household all 3 levels can be written off & the system starts afresh with less debt & more productivity.
2. High inflation (probably hyperinflation in some countries, Zimbabwe is already done this way). The currency devalues by inflation & it balances off the debt.

Either way the debt load has to taken care off..

So my friend, market volatility is a norm now, couple months up & than couple months down. Same thing is with jobs & contracts, you have & than you don't, lot of uncertainty.

Finally why bother!!! Whatever will happen will happen.. Just make sure you have your budgeting taken care off.


 
Post ID: 195182 12-04-12 13:04:39
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dudewheresmycar
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LOL

TK are u scared we will take ur job

Quote:
Originally posted by tamilkuravan

Indian economy is going great guns, but please donot come to India and spoil the place.

peace



 
Post ID: 195186 12-04-12 13:50:21
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febpreet
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Quote:
Originally posted by ashedfc

Finally why bother!!! Whatever will happen will happen.. Just make sure you have your budgeting taken care off.



That's entirely true.


 
Post ID: 195187 12-04-12 13:55:04
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dudewheresmycar
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U are so right..

Quote:
Originally posted by ashedfc



So my friend, market volatility is a norm now, couple months up & than couple months down. Same thing is with jobs & contracts, you have & than you don't, lot of uncertainty.

Finally why bother!!! Whatever will happen will happen.. Just make sure you have your budgeting taken care off.



 
Post ID: 195189 12-04-12 14:01:09
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word
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Quote:
Originally posted by dudewheresmycar
Do u guys think Economic signs are all pointing towards another recession?



another? when did we come out?





 
Post ID: 195190 12-04-12 14:08:52
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infocan
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after buying house last year. I am trying to build up my regular saving account to have 3 months of cost saving lest I got layoff. I must admit it is tough, when one have to buy a best furniture and other stuff for new home. What more, leons etc give u free 18 months loan. So buying is tempting. I am making a point to pay back the furtniture debt on regular basis .
And yes, enjoying the exploded house prices . all virtual money

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infocan

 
Post ID: 195209 12-04-12 17:13:23
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ashedfc
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Quote:
Originally posted by infocan
all virtual money


True, wealth is virtual........... but the Debt is real.
No matter what happens debt needs to be repaid. As a default triggers a domino effect.

You know the reason, why?
Because your mortgage/debt is probably held in someone retirement portfolio, as a bond investments. So, if the debt is not repaid, than the investor doesn't gets its money, & losses compound.. (does that makes clear.... on what impact of a debt default is going to be)..

Similarly all 3 types of debts:
Government debt; Corporate debt; & Household debts - all have the same portfolio hypothecation & rehypothecation.. its too big of a jumble to solve now (its gone exponential, that even Ben Bernanke, Federal Reserve chairman must be scratching his head)..


 
Post ID: 195211 12-04-12 17:54:44
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ashedfc
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Location: GTA


Quote:
Originally posted by word

Quote:
Originally posted by dudewheresmycar
Do u guys think Economic signs are all pointing towards another recession?



another? when did we come out?


For only the rich (10%), & manipulated technical data shows we came out.
Rest 90% still feels as if we are in a recession, average people have a bit higher salary; but more high is the cost of living.


 
Post ID: 195212 12-04-12 17:59:41
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Contributors:
ashedfc(8)  chekram_04(1)  Delhite(1)  dudewheresmycar(3)  febpreet(1)  freakoutguy(2)  imate2(1)  
infocan(2)  RBO(2)  tamilkuravan(1)  web2000(1)  word(1)  
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