Comments for the credit crunch blog

Comment on Can Government Intervention Prevent A Recession? by Lady C

Lady C — Thu, 01 Oct 2009 03:57:19 +0000

I think it depends on the intervention. If the govt intervenes by putting more money back into the private sector via tax cuts, that is extremely helpful. If they intervene by taking money out of the private sector and growing the public sector, that is detrimental in both the short term and long term. I dont know if they can actually PREVENT recessions, but I believe they can make the effects of a recession greater or lesser)

Comment on Can Government Intervention Prevent A Recession? by Cookie Monster

Cookie Monster — Thu, 01 Oct 2009 03:46:40 +0000

pray.

Comment on What Is A Recession And What Will Happen If Australia Goes Into Recession? by sudharar

sudharar — Thu, 01 Oct 2009 00:24:21 +0000

An economic recession means that your economy will become worse. Inflation and higher taxes will occur. That means that money will be worth less and prices will go up, industries will start going out of business, people could lose their homes, etc.

Comment on What Is A Recession And What Will Happen If Australia Goes Into Recession? by baz

baz — Thu, 01 Oct 2009 00:02:14 +0000

Recession is a period when investment will be less , less growth,less demand for goods,as a consequence unemployment ,layoffs,closure if some industries,etc.
To come out of recession Government has to come forward with heavy investment and invest in service oriented and growth oriented projects.
As a consequence of the above step Demand for goods is created which in turn crate revival of industires and economic growth.

Comment on What Causes A Recession And How Does A Recession End? by You Just Hope . That It Lasts

You Just Hope . That It Lasts — Wed, 30 Sep 2009 20:35:39 +0000

Essentially a recession is a shrinking economy (less buying and selling going on) and a recession ends once confidence returns and the economy starts growing again.
In the case of the US, the recession was started by the sub-prime lending crisis and the consequent credit crunch, but in general recessions can have many different causes.
If left well alone a recession will cure itself, but politicians are impatient and want to be seen to be doing something. Hence the calls for economic stimulus at the G20 meeting.
The problem with economic stimuli such as quantitative easing is that they can easily turn into galloping inflation once the economy starts to recover.

Comment on How Is The Vancouver Job Front Doing Since The Recession? by Haligoni

Haligoni — Wed, 30 Sep 2009 16:55:12 +0000

Vancouver has been hit very hard. When the US catches a cold, Canada gets the flu. Canada always has higher unemployment on average than the USA.

Comment on How Is The Vancouver Job Front Doing Since The Recession? by simone m

simone m — Wed, 30 Sep 2009 16:07:14 +0000

There are still jobs available but it’s definately slowing down and becoming much more competitive. There are still much work in the service industry but it’s generally minimum wage to start ($8/hr). BC has one of the lowest minimum wages in Canada especially when you compare it to the cost of living.There is a lot of contract/casual work for higher pay available but of course, that isn’t stable nor long term. Keep in mind when finding work, that the ‘living’ wage in Metro Vancouver is $16.74/hr (over double our minimum wage) (From the Vancouver Province). So getting a job may be easy, but being able to afford rent, food, utilities, transportation, etc may not come so easily. This is why many people I know end up having to take 2 or more jobs to make ends meet.

Comment on How Is The Vancouver Job Front Doing Since The Recession? by industre

industre — Wed, 30 Sep 2009 15:59:12 +0000

Although most jobs are slowing down, many tourist attractions are hiring many employees in preparation for the Olympics. Speaking a foreign language is very helpful for getting a job in Whistler Village.

Comment on What Is A Definitive Way To Know If We Are In A Recession Or Not? by alisongi

alisongi — Wed, 30 Sep 2009 13:13:38 +0000

As soon as the “liberal” media tells us we are.

Comment on What Is A Definitive Way To Know If We Are In A Recession Or Not? by Fred Bauder

Fred Bauder — Wed, 30 Sep 2009 12:49:27 +0000

Sorry, but the worst is yet to come. It has to get worse before it gets better, because nothing has yet been done to reduce the nation’s debt. Until the debt is managed the interest will continue to keep your country bankrupt.
America is no different than any family overspending and living beyond their means on credit. Eventually you can’t pay the interest, then you just keep getting in deeper and deeper until you do something drastic, like credit counseling or bankruptcy. Unfortunately credit counseling and bankruptcy are not a national option, so it’s going to take spending restraint and a long slow effort to recover from this financial debackle.