Andy Nulman 
Paul Krugman 
Business and finance
Sunday 10 May 2009 OTTAWA: ECONOMY IN TURNAROUND
Canada's economy has created jobs for the first time in six months. In a surprising turnaround, the country gained nearly 36,000 jobs. The development surprised economists who had forecast employment would be down about 50,000 in April. Statistics Canada says all of the job gains were in the self-employed category. The agency says that is normally a sign of labour market weakness. In March, the national unemployment rate rose to eight per cent, the highest in seven years. The federal government says 387,000 jobs were lost between last October and the end of March.
Peter G. Halll VP EDC Economics Weekly Commentary
Peter G. Hall
Restoring Balance - April 29, 2009
History-making. That’s likely how the current economy will be sized up when the books are written. There are few episodes in the post-war period where market drama has been as intense. And with forecasts in freefall, getting a proper fix on the economic fallout is a huge challenge. Past issues | his WN page
Commentary podcast. 
Interactive
Eye On The EconomyIn-depth features on U.S. markets, taxes, employment and the Federal Reserve.
Monday 20 April 2009 Economy 'no longer in free fall'
The chancellor is expected to revise his economic forecasts in the Budget
|
The economy is no longer in free fall and a recovery next spring is likely, a renowned economic think tank has said.
Stabilising markets and the easing of credit conditions may well mean that the worst of the recession is over, the Ernst & Young Item Club said.
It is forecasting the economy to shrink by 3.5% this year and by 0.1% in 2010.
Saturday 11 April 2009
Why Quebeckers should be worried
Saturday 11 April 2009 Obama sees 'hope' for US economy
President Barack Obama says he sees "glimmers of hope" in the US economy, but warns there is a lot more work to do
Friday 10 April 2009
WASHINGTON (Reuters) - President Barack Obama said on Friday
the recession-hit U.S. economy was showing "glimmers of hope"
despite remaining under strain and promised further steps in
coming weeks to tackle the financial crisis. Full Article |
April 7, 2009 (Runs 11:52) Hard Times Hard Choices
Our regular economic panel, Patricia Croft, Mark Mullins, and Jim Stanford join Peter Mansbridge to discuss whether or not the worst could be over
BEAR ATTACK:Nouriel Roubini, professor of economics, New York University's Stern School of Business and Eric Sprott, chairman and CEO, Sprott Asset Management.
Good News Beyond the First Quarter? - April 8, 2009
Decoupling was a popular term a year ago, used to describe how the rest of the world had unhitched from the US economic problem. It is now rich fodder for late-show humour. The acutely synchronized recoil that output saw in late 2008 has erased decoupling from the vernacular, and sent global forecasts tumbling. To make matters worse, this is no one-quarter wonder. hypothesis. Past issues
Commentary podcast.
Tuesday 07 April 2009 CALGARY: RESEARCHERS SAY ECONOMY TO WORSEN MORE THAN THOUGHT
The Conference Board of Canada says presented a worsening job scenario for this year and next. The Board says unemployment will rise steadily this year and will peak at 9.5 per cent in mid-2010. The researchers forecast the loss of 340,000 jobs this year. The Board also says the country's Gross Domestic Product will shrink by 1.7 per cent this year, having previously suggested the figure of .5 per cent.Find G20 Wednesday-Night hits on the G20 | in London | Wiki | AVAAZ
Friday 03 April 2009 Obama hails 'historic' G20 summit
US President Obama hails the G20 agreements reached in London, as he heads to Strasbourg for a key Nato summit.Friday 03 April 2009 LONDON: PM BEAMS OVER OUTCOME OF G20 SUMMIT
Canadian Prime Minister Stephen expressed satisfaction with the outcome of the two-day G20 summit which was called to deal with the worldwide economic downturn, referring "...unprecedented, co-ordinated and fast action by the international community to an economic crisis..at a speed and a level of engagement we have never seen..." The prime minister says the the era of unregulated or barely regulated markets has come to a close, adding: "I think we're back to where Canada was all along." The 20 leaders agreed that credit agencies will be regulated to avoid conflicts of interest, tax havens will be obliged to disclose details of their businesses and an International Financial Stability Board will be created to provide an early warning system for the world economy. The 20 pledged US$1.1 trillion in loans and guarantees to countries mired in deep recession. Canada pledged an additional US$10.2 billion for the International Monetary Fund, which will manage most of the promised money. The leaders acknowledged, nonetheless, that a recovery won't be imminent.Thursday 02 April 2009 G20 leaders close to global deal
Leaders of the world's largest economies are close to an agreement to tackle the global financial crisis. ,,,an agreement worth around $1.1 trillion to tackle the global financial crisis.
To help countries with severe problems, the International Monetary Fund (IMF) will get extra resources worth up to $750bn (£510bn).
In addition, there will be a deal at the G20 summit to "name and shame" countries that breach free-trade rules.Thursday 02 April 2009 ECB reduces rates to record low
The European Central Bank cuts the main interest rate to a record low of 1.25% in the eurozone.Wednesday 01 April 2009 Obama calls for G20 global action
US President Barack Obama stresses the "sense of urgency" needed to confront the global economic crisis, as protesters gather in the City of London.Tuesday 31 March 2009 France is threatening G20 walkout
France will walk away from this week's G20 summit if its demands for stricter financial regulation are not met, the finance minister has told the BBC.Tuesday 31 March 2009 WASHINGTON: PRIME MINISTER EXPRESSES CONCERN OVER GLOBAL PROTECTIONISM
Prime Minister Stephen Harper says the danger of protectionism is one of his major concerns in the global economic crisis. He's worried that if protectionism becomes a global option, the world could face a depression similar to the one in the 1930s when countries introduced trade barriers to save homegrown industries. The measures only accelerated and deepened the global economic downturn. Mr. Harper is concerned that the United States stimulus plan includes Buy-American clauses for recipients of government bailout money. Such a plan could hurt Canadian exports to the United States. Mr. Harper made his comments as he prepares to attend a Group of 20 summit in London this week.Monday 30 March 2009 G20 'make or break', Soros says
Billionaire investor Gorge Soros says the G20 summit will be a make or break event for the world's economy.Monday 30 March 2009 Biden appeals to G20 protesters
US Vice-President Joe Biden urges G20 protesters to give governments a chance to tackle the economic crisis.Monday 30 March 2009 Large demonstrations were held in several European cities on Saturday to urge action at the Group of 20 summit in London next week. Thousands of demonstrators in London, Berlin, Vienna, Frankfurt and Rome called for world leaders to act to end poverty, create jobs and stop climate change. On Thursday, summit leaders, including Prime Minister Stephen Harper of Canada, will discuss how to help the world economy recover from the deepest recession since the 1930s. The demonstrations were peaceful and passed largely without incident. A smaller demonstration involving several hundred people was also held in Paris.
Monday 30 March 2009 CHILE
British Prime Minister Gordon Brown and U.S. Vice President Joe Biden are predicting that the Group of 20 summit in London next week will produce tangible results. Speaking in Chile, where he held preparatory summit talks, Mr. Brown said that there would be measures to create jobs, to stimulate business and to take action on climate change. Meanwhile, Vice President Biden appealed to protestors in London on Saturday to give G20 leaders a chance to deliver on concrete proposals. Police estimated that 35,0000 marchers took part in the protest. Similar rallies are planned for Wednesday and Thursday.Friday 20 March 2009 TORONTO: PM STICKS TO UPBEAT ECONOMIC FORECAST
Prime Minister Stephen Harper is sticking to his optimistic economic forecast, despite the current global slump. Mr. Harper repeated an earlier assessment that Canada was the last major economy to fall victim of the downturn and will be the first to emerge from it. The prime minister pointed out that the federal government has not had to subsidize the country's banks and has a stable inflation rate and a diverse economy. Mr. Harper's analysis contrasts with that of former Bank of Canada governor David Dodge, who predicted Tuesday that Canada's recession won't end later this year and that the global slump will continue for years, fundamentally altering the capitalist system. Without mentioning Mr. Dodge by name, Mr. Harper noted that in his time in public life never "...have forecasts been so all over the map..."OTTAWA: INVESTMENT HOUSE DISAGREES WIKTH THE ABOVE
One economist who disagrees with the prime minister's outlook is David Wolf of the Merrill Lynch investment house. He sees a 9.1-per cent contraction in the current quarter, a shrinkage faster than any since the 1930s. He also forecasts a three-per cent decline for the year as a whole. Liberal Party Finance Critic John McCallum says the latest forecasts show Mr. Harper's government "hopelessly out of touch." Mr. McCallum says the government may have to come up with far more than the $40 billion earmarked to stimulate the economy.Sunday 15 March 2009 G20 summit 'critical for economy'
The G20 summit in London is critical if the world wishes to avoid the turbulence seen in the 1930s, the government warns.HORSHAM: FINANCE MINISTER ATTENDS G-20 MEETING
Canada's finance minister, Jim Flaherty, and his counterparts in the Group of 20 nations heard widely differing views on Saturday about how to handle the global financial crisis. The United States urged members' governments to intervene with big economic stimulus packages. Britain largely agreed, but other European members did not. European countries said they could support their economies just as well by increasing spending on social welfare and unemployment. All of the G-20, especially four major emerging economies, Brazil, Russia, India and China, pledged to increase the role of the International Monetary Fund. In a statement at the end of their meeting in Horsham, England, the G-20 ministers said that their priority is to get funds flowing again through banks. They also agreed for better regulation of financial institutions, and for credit-rating agencies to be registered. The agencies are widely blamed for encouraging the crisis by giving strong ratings to risky securities. Mr. Flaherty said after the meeting that regulatory reform must take place to fix global financial systems. The finance ministers' meeting served to prepare for the G20 summit next month.
Aislin March 13, 2009
Peter G. Hall VP EDC Economics Weekly Commentary
Canadian Trade Tumbles - March 4, 2009
For world GDP, the fourth quarter of 2008 was ugly. Canada was no exception, as our economy fell into recession, shrinking by an annualized 3.4% in the quarter. But Canada suffered a lot less than most other large economies – strange, given our greater dependence on international trade. Has our resilient domestic economy helped us to sidestep the worst of the global gloom? Past issues | his WN page
Commentary podcast.
Friday 27 February 2009 The country's top executives see dark days ahead
90 per cent of executives expect the economy to decline in the next 12 months, half think it will be more than a year before growth returns and two thirds say it is now more difficult than ever to access creditTuesday 24 February 2009 TORONTO: CENTRAL BANK HAS GOOD, BAD NEWS
The Bank of Canada predicts that the economy will have a "difficult" year and that gross domestic product will shrink by 1.2 per cent. However, Senior Deputy Governor Paul Jenkins forecasts as well that the economy will rebound with growth of 3.8 per cent in 2010 on the basis of depreciation of the Canadian dollar and adroit monetary and fiscal policy. Mr. Jenkins also points to the country's relatively well-operating financial system and an improvement of commodity prices. The deputy governor acknowledges, however, that the predictions of all forecasters are subject to a high degree of uncertainty.Monday 02 February 2009 Obama sends diplomat to Davos to quell trade outrage
Day cautiously optimistic after talks with U.S. trade representative about stimulusSunday 01 February 2009 WASHINGTON: BUY AMERICAN POLICY UNDER REVIEW
The Obama administration has not yet decided how to respond to the protectionist measures contained in the economic stimulus package passed by the House of Representatives this week. One of the measures has caused considerable anxiety in Canada. It stipulates that money may go only to those infrastructure projects that use iron and steel produced in the United States. Canada's iron-and-steel industry exports 40 per cent of its production to the United States. Asked about that and other 'Buy American' measures that favour US suppliers, a White House spokesman said Friday that the matter was still under review. On his arrival at the World Economic Forum in Davos, Switzerland, Canada's international trade minister, Stockwell Day, said he intends to raise Canada's concerns with the the US trade representative.Sunday 01 February 2009 OTTAWA: ECONOMIC SHRINKAGE
Canada and the United States now appear to be moving in tandem into the worst recession since at least the early 1990s. New numbers confirm both countries have fallen into deep slumps. Canada's gross domestic product (GDP) fell almost twice as much as expected, down 0.7 per cent in November, with all major sectors reporting reduced production. The US economy shrank by 3.8 per cent in the last three months of 2008. That was lower than expected, mostly because of an unexpected buildup in inventories that is likely to depress activity going forward. Economists are now pointing to this year's first quarter as likely to be the most painful of the recession so far.REGINA: WESTERN PREMIERS TO DELIVER COUNTER MESSAGE
The premiers of Canada's three western Prairie provinces - concerned about the protectionist measures in the US bailout bill - are embarking on a trade mission to the United States, with special emphasis on energy. Canada is the largest supplier of oil to the American market, and all of it flows from western Canada. Canada is also the largest trading partner overall with the US. Saskatchewan Premier Brad Wall and Manitoba Premier Gary Doer will visit Chicago on Tuesday. They will head to Houston the following day, where they will be joined by Alberta Premier Ed Stelmach. British Columbia Premier Gordon Campbell won't be able to make the trip because of scheduling conflict. Premier Wall told the Saskatchewan legislature that, under the present circumstances, the mission was vital, and that they had to deliver the message that it was just this sort of protectionism that precipitated the Great Depression.Friday 30 January 2009 Which blue chips will remain cerulean?
PROFIT forecasts are being shaved round the world. Société Générale estimates that 2008 and 2009 numbers have been cut by $1 trillion since the end of October. As occurs so often in recessions, instances of fraud or accounting manipulation (Satyam and Bernard Madoff, for instance) are coming to light. In these circumstances, investors do not know which companies to trust.Wednesday 28 January 2009 Can Davos Man save capitalism?
IT’S that time of year again, when the Swiss mountain resort of Davos hosts the World Economic Forum’s annual talking-shop for the planet’s biggest movers and shakers from business, civil society and politics. Security will be tighter than ever, as will the sense of urgency among the 2,500 or so Davos Men and Women attending the event. This time, instead of chattering mostly about how they can help solve problems in the outside world such as poverty and climate change, the problem they will be discussing most urgently is themselves—or, at least, the global economic system that, under their stewardship, has lately gone badly wrong.Jan 11th 2009 Back in the game
IF THERE is a consensus view of financial markets in 2009, it is that things will be very difficult in the first half of the year but could then pick up in the second half as investors anticipate economic recovery in 2010.Wednesday 07 January 2009 MONTREAL: FLAHERTY CONTINUES ECONOMIC TOUR
Federal Finance Minister Jim Flaherty hinted Tuesday that personal tax reductions are in the offing for Canadians as a way to help boost the country's economy. Mr. Flaherty said his advisers have told him Canada needs to invest more in infrastructure. He then added that another way to help the economy is tax reduction. Mr. Flaherty met with the Canadian Taxpayers Federation on Tuesday. It was expected to ask him to provide tax relief. Mr. Flaherty has been meeting with special interest groups across Canada in recent weeks before he presents his budget on Jan. 27. On Monday, he met with the Canadian Bankers Association on Monday and announced that the government and the banks had agreed to form a group to work on ensuring adequate availability of credit and financing in Canada.Tuesday 06 January 2009 OTTAWA: ECONOMIST OPTIMISTIC ABOUT STIMULATION
Most Canadian economic forecasts predict that on average Canadians will get poorer in 2009 with as many as 200,000 people losing their jobs. Prime Minister Stephen Harper has even talked about the prospects of a depression, but an economist with the Bank of Montreal is more optimistic. The banks, deputy chief economist, Douglas Porter, says governments appear to have learned their lessons from the depression in the 1930s and are now spending to stimulate their economies. Prime Minister Harper has hinted that his budget at the end of the month could include $20 billion in spending measures even if it causes a deficit. Meanwhile, economists are expecting some high numbers when the job loss statistics come out Friday. It could be up to 30,000 jobs. However, the economists say a number of factors are pointing to a resumption of growth in the second half of 2009, including extremely low interest rates, favourable exchange rates and cheap oil.2008
Saturday 22 November 2008 Don't hesitate - it's time to stimulate Canadian economy
Canada can't afford to wait for a new U.S. administration before getting started on a major stimulus program to rescue this... The Harper government needs to announce the first steps toward a Canadian stimulus program within weeks, and such a program should be big - worth as much as $20 billion - Sherry Cooper, chief economist at the Bank of Montreal, said in an interview yesterday.Tuesday 11 November 2008 OTTAWA: BUSINESS CONFIDENCE DROOPS
A survey of Canadian businesses indicates they were much less confident, last month than this summer. The Index of Business Confidence fell to 78 points, in the first three weeks of October, down 13.5 points from the Conference Board of Canada's third-quarter survey and the lowest level in seven years. Almost 70 percent of respondents said they believed the economy would be in worse shape in six months time, compared with 12 percent who expected improvement.Wednesday 12 March 2008
Wednesday 12 March 2008 OTTAWA: TRADE SURPLUS REBOUNDS
Canada's trade surplus rose by 3.6 per cent in January from December to $3.3 billion, up from $2.3 billion in the former month. Exporters sold $38 billion worth of goods. The January figure reverse a downward trend that had persisted through most of 2007, due in part to the strong Canadian dollar.
- at Wednesday-Night1345 WithPeter Perkins BCA & Dr. Tony Deutsch OWNs stills by Robert J. GAlbraith stills - Dec 12, 2007 4:15 video page
at Wednesday-Night1337 Jacques Clement mkts the 17 Oct 2007 2:53 page Friday Nov 9, 2007 U.S. faces risks, not recession: Fed
Federal Reserve chairman Ben Bernanke told lawmakers yesterday the U.S. economy does not appear headed for recession, but..
Stephen S. Poloz VP EDC Economics Weekly Commentary
Canada’s Two-Track Economy to Persist - November 7, 2007
High and rising prices for metals, oil and food have put the global economy on two independent growth tracks. The adjustments this is fostering can be painful, and there is no let-up in sight.
This is not the first time the world has been here. The same thing happened in the mid-late 1970s, when oil and other commodity prices surged. When this happens, resource sectors grow rapidly, generate new jobs and attract new investment. Meanwhile, sectors that use resources as inputs must restructure - adopt new technologies that are less resource-intensive and reduce workforces. Those sectors slow or stall – hence the reference to two growth tracks. Past issues | his WN page
Commentary podcast.www.Wednesday-Night.com/Wed1337page2.asp 17 Oct 2007
at Wednesday-Night1337 Jacques Clement mkts the 17 Oct 2007 2:53 page John Curtin, winner for Best Biography Documentary Program the 17 Oct 2007 :41sec
John Curtin, winner for Best Biography Documentary Program for Dangerous When Provoked: The Life & Times of Terry Mosher see page
- Canadian Dollar:$1.01¢ - $1.03¢ U.S.
- Euro: $1.41 - $1.43 U.S. us
- Crude Oil: $80.00 - $86.00
- Dow-Jones D.J.: 14,000 - 14,300
- The T.S.X : 14,250 14,500
- Gold:: $745.00 - $755.00U.S.
www.Wednesday-Night.com/Wed1334page2.asp 26 Sep 2007
- at Wednesday-Night1334 Jacques Clement mkts the 26 Sept 2007 10:48 page
Near Term Trading Outlook: Wed1332
- Canadian Dollar: 96¢ U.S. – 97¢ U.S.
- Euro: $1.38 U.S. - $1.39 U.S. us
- Crude Oil: $79.00 - $81.00 +6.00
- Dow-Jones D.J.: 13,300 – 13,500 +700
- The T.S.X : 14,300 – 13,500
- Gold:: $665.00 U.S. - $730.00 U.S.
see Jacques-ReportArchives. for more & 103 pages reporting by Jacques Clément
Wednesday 24 June 2009 OTTAWA: SINGLE SECURITIES REGULATOR NEARER
Federal Finance Minister Jim Flaherty has announced the creation of a transition team that will establish a single national securities regulator. B.C. Securities Commission head Doug Hyndman will also head the transition team. The minister says that the creation of a single regulator has been one of the governing Conservative Party's priorities since being elected in January 2006. At present each of the 13 provinces and territories has its own regulator. Several of the provinces, including Quebec and Alberta, strenuously object to the concept which Mr. Flaherty insists is necessary to enable financial markets to operate efficiently.theglobeandmail.com | Marketwatch.com/ | Reuters.com/
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