Calgarypuck Forums - The Unofficial Calgary Flames Fan Community - View Single Post - Federal deficit shrinks to $7.2-billion in 3 month period

IliketoPuck · 08-27-2010, 12:09 PM

I'm cautiously optimistic about the Canadian economy, we have the controls in place to weather the majority of what could come out of the States.

Enough cannot be said about the excellent job Mark Carney is doing for the Canadian banking system. Also Harper and his ability to push through his economic agenda at the G-20 conference in spite of American/British opposition is an excellent indicator that Canada is becoming a model economy to look towards at the moment.

Thankfully the majority of our banks didn't get caught up too badly in the sub-prime fiasco (tsk tsk CIBC), so I think we should be relatively stable going forward.

Although looking at bloomberg every morning it is a bit comical reading the news updates from the states. "Catiously optimistic about (insert slightly positive indicator) signalling recession is behind us." (markets go up). Followed by: "Lower housing starts, speculation on federal rates...etc etc etc. lead to worries the recession may deepen." (market goes down). Repeat 5 times a week in various combinations and you have the bi-polar nature that is the American economy.

I will stay far far away from any American stocks for the forseeable future....but there may be some good opportunities to pick off a couple blue chips if the price is right.

Sorry to digress, but good news in general about the Canadian economy, hopefully we can keep the positive momentum going.

08-27-2010, 12:09 PM	#6
IliketoPuck Franchise Player Join Date: Sep 2009 Location: Calgary Exp:	I'm cautiously optimistic about the Canadian economy, we have the controls in place to weather the majority of what could come out of the States. Enough cannot be said about the excellent job Mark Carney is doing for the Canadian banking system. Also Harper and his ability to push through his economic agenda at the G-20 conference in spite of American/British opposition is an excellent indicator that Canada is becoming a model economy to look towards at the moment. Thankfully the majority of our banks didn't get caught up too badly in the sub-prime fiasco (tsk tsk CIBC), so I think we should be relatively stable going forward. Although looking at bloomberg every morning it is a bit comical reading the news updates from the states. "Catiously optimistic about (insert slightly positive indicator) signalling recession is behind us." (markets go up). Followed by: "Lower housing starts, speculation on federal rates...etc etc etc. lead to worries the recession may deepen." (market goes down). Repeat 5 times a week in various combinations and you have the bi-polar nature that is the American economy. I will stay far far away from any American stocks for the forseeable future....but there may be some good opportunities to pick off a couple blue chips if the price is right. Sorry to digress, but good news in general about the Canadian economy, hopefully we can keep the positive momentum going.