Have you noticed the "Dog Days of Summer" are more exciting than usual. Its not the quiet summer that most folks anticipated.
Well...the Pan Am games have created their own level of excitement, and a ton of medals for Canada. Its a unique instance where Canadians truly feel like winners. Watching athletes bring in the gold.
The looming campaign for the federal election.
The burning question...
Are we in a recession, are we not in a recession, why use the "R" word in the first place.
Lets take a look...
The Canadian Dollar:
Its in the dumpster, CMS (Citizen Main Street) will spend more for the same "imported" stuff, and feel poorer while doing so. Keep in mind the feel poorer aspect...
The "Its great for manufacturing, jobs, exports..." we have heard that tired mantra for so long now that you truly have to wonder about its validity at this point. Did appliance making return to Canada? Did furniture making return to Canada?
Low Interest Rates:
At this stage its a big yawn, who cares anymore, they have been low for such a long time that its a given they will stay low. If the rates increase...think Walmart, Dollarama.
Price of Oil:
The oil industry in Canada, needs oil priced at $70 US a barrel to have a viable business model. We have known that for decades...nothing new here. Agreed...at $100 a barrel it was all good...at $50 a barrel no so good. Its a new reality.
Through the roof, even with Alberta the 4th largest market in Canada behind this year. Go figure...easy CMS has no desire for ownership, its mobility for a monthly payment. Canadian banks have been empowering CMS to truly adopt the mobility model. Observe the increased share of leasing with the lower CDN dollar.
Its over valued, its on fire, a crash is just around the corner, where is all this money coming from? Reflect on this for a moment...CMS feels in control with real estate, Canadian banks aided by the government have encouraged CMS to be in control.
Think about this too...its our collective money that is guaranteeing a "shit load" of mortgages.
The future direction of Canada is in a recession...reflect on this for a longer moment.
Canada has been at a pivot point since the presumed great recession of 2008/09 which never really occured in Canada. Besides solidifying the position of Walmart and Dollarama.
Canadian companies are very adept at making money with CMS. While CMS is adept at taking care of himself.
We could keep on going...
Canadian economic thinking is in a recession....must be the reason everyone wants to stay away from the discussion. The longer this "recessionary thinking" endures...the more interesting, and deplorable its going to get.
The "cloudier" Canada's future will be...
Must be our rant of the day.