Hello CD's,

Was startled to find this news from "The Toronto Star" dated today

Canadian economy careens toward recession as election looms

The likelihood that Canada has fallen into a recession deepened Friday with news of below-zero growth for the fifth consecutive month.

OTTAWA—With the economy looming large in an election campaign only days away, the likelihood that Canada has fallen into a recession deepened Friday with news of below-zero growth for the fifth consecutive month in May.

A recession is usually defined as six consecutive months of below-zero economic growth, and the NDP and Liberals have seized on the long stretch of recession-like conditions to accuse the government of mismanaging its most important file — the economy.



Now I know that this news is not bad news to Software Engineers and Bank / Finance people, but to the rest of the new immigrants on labour jobs or who are just entering the market, it is very bad news.

I was in Canada duing the recession of 2008/09 and I suffered for a year. Things started looking good only in Jan 2010 when I got a job in a window where many companies were hiring.

In 2008/09, Canada introduced Secnd career which ensured that the people without a job (laid off) were able to get training and EI assistance (till a cap of $ 28,000). Many, during that time, becase nurses, or ECE trained or became skilled trades people.

What will the Canadian govt. introduce this year like Second career? I am looking forward to take advantage of it.

Also what does this entail for the house owners. Interest rates will be low for 1 or more years atleast and if Canadian govt. pumps in money (like the US) housing rates are going to go sky high.

I look forward to discussions in thie regard.

Murali

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I am a Gents and not a Ladies.

Recession and lay offs are part and parcel of your life in western world. There is always some kitties stashed away to cover such rainy days not essentially money, even psychological prep and cover the basics strategy.

Any economy based on speculation, and dire dependence of foreign sources are bound to falter time to time. Having lived in such economy its insane to think that the wind will always blow drom North.

Anyhow, you haven't spared any opportunity to pinch your arch-nemisis ( IT and Finance). Technology lays the road to build the economy and this speculation bases finance cordons it. No need to explain that technology doesn't mean just some fancy ERP software.

Well, until the s*** hit the fan, I will continue to enjoy my first world quality of life ( I am not ending this statement).

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The cowards never started,
The weak died on the way,
Only the strong arrived.
http://www.youtube.com/watch?v=_yK1i9cLAMM