Recession blues

All this talk about recession has me recessed.  Or is it depression talk has me depressed.  Not sure.   One month ago our PM was saying that things were unsettled but there was no need to panic and now he is saying we may be on the verge of a depression.  Just a quick reminder a depression is usually defined as a 10% contraction in the size of the economy.  This kind of correction would easily double or triple unemployment and cripple the EI system as well as government finances.

Or is it just politics?  Maybe Harper wants us to think depression to stay with the steady hand as they call it.  Not sure what is so steady about going from a wait and see attitude to invoking the depression word in 30 days.

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3 Responses to Recession blues

  1. Anonymous says:

    Well I didn’t need Harper to indicate to me of hard times ahead,so why would you?
    And considering the crookedness of financial investors,the disappearing of any laws,the stifling of any investigations,the evilness of the lobby system,the disappearance of democracy, a threepression would be more like it.
    In fact,there may be no name for it yet.
    How do you fix a system that has no morals?

  2. Vincerolly says:

    During the election campaign, Harper stated that if there was going to be a recession, we would have had one by now…

  3. richard says:

    Guess he is just lowering expections, in case anyone thinks he can turn things around before the next election.

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