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Re: economics
Posted by James [Email] (more from James) on Fri, 9 Jul 2010 04:16:24
In Reply to: Re: economics, Tim, Thu, 8 Jul 2010 13:08:19
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I don't think many economists would agree with you that Canada is in a bubble right now (China, maybe?). We have gone through a recession just like the US, but nowhere near as deep. I suppose the world is possibly heading for another dip, a W, and Canada would likely follow, but Canada is in a financial position to weather that quite well. House prices in some parts of Canada (there was definitely a bubble out west) did fall in the recession, but nothing like the US. There has been more stability. Believe me, I'm tuned in for bubbles: I once worked for one of the biggest companies in the telecom bubble. And you're right, bubbles are more obvious after the fact + huge profit can be made in them...
Anyway, all this is to say that the timing doesn't need to be perfect to still damp the system. It just can't be way off. We had years of higher taxes + debt reduction back in the obvious good times (largely initiated by one particularly good finance minister). Some called for lower taxes (our current party in power btw) in good times, but the government raked the money in to pay down debt + enable the stimulus we have (had) today (the magnitude of which is much less than the US, and includes lower taxes). Now we're already seeing efforts here to cut back spending and moderate the recovery. To a large extent, good times vs bad are identified through economic data, so it doesn't need to be that hard to identify.
(maybe I like Keynes because my background is in physics + engineering and to me it is a bit like control theory, a very very useful thing!)
James...
posted by 216.59.246...
Posts in this Thread:
- Psychic moved in next door - do people really go!?, Craig, Tue, 6 Jul 2010 18:29:50
- Wow, tons of responses!, Craig, Thu, 8 Jul 2010 11:42:18
- I have a theory, TML
, Wed, 7 Jul 2010 09:41:19 - Psychics are proof that some people, Noel, Wed, 7 Jul 2010 05:08:37
- Re: Psychic moved in next door - do people really go!?, Scott Paterson
, Tue, 6 Jul 2010 19:58:48 - Re: Psychic moved in next door - do people really go!?, 93Gator, Tue, 6 Jul 2010 19:08:54
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