Monday, October 6, 2008

Thanks for nothing

"Canada heading for recession, say economists"- CBC, October 6, 2008

Yeah, thanks for that now that the TSX is down about 30%. Until a few weeks ago, these bozos were pretty much dismissing a recession in Canada. Now it is a certainty. Thanks for the heads-up.

When I wrote this back in February, very few were even discussing this as a possibility in Canada. Decoupling and commodity super boom forever were all the rage. The credit crunch was supposedly winding down...

Pretty sad that all these economists either missed this or didn't want to say so in public. The same thing happened in the last slowdown (2001 didn't qualify as such in Canada) and probably the 1990 recession too.

1 comment:

BBC said...

These economists are as useful as
t*ts on a BULL!