There should be no doubt in anyone's mind now that the great recession is finally beginning to hit the shores of Canada in very noticable ways. Apparently I also am not the only one who feels that opposition MPs (MLAs) should start walking off the job in protest. 404SystemError caught a user comment on Globe and Mail calling for the same thing and then today in Alberta, it actually happened!
"If he's going to make a mockery of question period, then what other recourse do we have? And I think he made a mockery of question period," Ms. Smith told reporters afterward.This whole thing has been turning into a mockery, and the absolute dysfunction of our government(s) are more indicators to the true state of affairs. From the corruption in Quebec, to the antics in Ontario, to Alberta's freedom to exploit, to the federal government's very legitimacy itself. Mockery indeed.
Canadian Trends: Ready or not; here it comes
The desperation of our leaders is quite apparent. They are moving quickly to implement the new, non-democratic system before the current one implodes. The global economy is fucked 6 ways from Sunday. Don't like that word? Fucked. Fucked. Fucked. k? Fucked.
People are quickly discovering that all of these emperors have no cloths. They have been lying through their teeth about recovery while green lighting the sale of.. well.. everything? And if you don't like it, there will be a line of riot police offering service with a smile.
The fiscal cliff? That's P.R. folks. What do the cuts amount to, like 5% of the budget or something like that? What do you think will happen after that "cliff"? I figure they will be falling head-first off the deep end, what you've seen this year and thought was nuts is going to seem sane by the time this lot is done with you.
Here's an interesting indicator: Canadian Currency in Tightest Range Since 1996 as Growth Slows. This should pretty well blow apart any misconceived perceptions about the Dutch Disease myth. Our growth is slowing, we can't sell our oil, pipelines are unconfirmed, yet our dollar is still better than the so-called and perceived "energy renaissance" of the U.S.? Please. When it comes to markets perception is everything, and we all know what perception about Canadian oil is being sold right now, don't we?
Oh, but it gets even better:
"Growth in the quarter was almost entirely driven by household consumption (+3.1 per cent)," Enenajor wrote in a note.No kidding? Canadian Trends: Canada's fantasy economic outlook is at odds with reality
Canada is stuck between a rock and a hard-place. High energy prices are driving up the cost of living which is being supported by consumer spending that's fueled by cheap lending which is leveraged on an overvalued housing market. This problem then compounds when you consider that a large portion of Canada's anticipated GDP is based on this consumer spending. To add insult to injury the effects of peak oil on oilsands production that I've been telling you would happen are now happening.Yea.. no problem over here - am-i-right?
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Richard Fantin is a self-taught software developer who has mostly throughout his career focused on financial applications and high frequency trading. He currently works for eQube gaming systems.
Nazayh Zanidean is a Project Coordinator for a mid-sized construction contractor in Calgary, Alberta. He enjoys writing as a hobby on topics that include foreign policy, international human rights, security and systemic media bias.