U.S. economy may never fully recover: Bank of Canada governor

[Newsjock]

Source: Canadian Press

Bank of Canada governor Mark Carney says the U.S. economy could take years to recover from its current weak state — and may never return to its glory days.

“The nature of the U.S. recovery, it's going to take a number of years before they get back to the U.S. that we used to know,” Mr. Carney told CTV's Question Period.

“In fact, they are not in our opinion ultimately going to get back fully to the U.S. we used to know.”

The weakness south of the border is costing the Canadian economy $30 billion annually in lost exports, according to Mr. Carney.

Read more: http://www.theglobeandmail.com/report-on-business/us-economy-may-never-fully-recover-carney/article2310768/

[Webster Green]

1. Duh.

No shit, Sherlock. Seems pretty obvious to me.

On second thought....maybe I'm an economics expert, and didn't even know it. I need to be getting paid for this knowledge.

[unblock]

2. not as long as the modern republican party has any say in the matter

our problems are not insurmountable.
mostly, we just have a demand-starved economy.
throw in some perversely damaging incentives for business and a corrupt political system and that's most of what's going on.

all we need is massive government spending to get people working and get money in the hands of those who will spend it (the poor and lower middle-class, mostly); tax the rich in order to pay for it; revise tax policies so that the rich and businesses no longer have incentives to offshort jobs or abuse compensation machanism or trash companies for short-term wealth extraction; and make campaign financing public in order to prevent the corruption that keeps skewing things in favor of unhealthy wealth concentration at the expense of the economy as a whole.

easily solved, if we weren't so far gone that the rich have highly effective ways to stop it. all they have to do is contribute heavily to the republican party.

[xchrom]

3. Du rec. Nt

[Laelth]

4. k&r for exposure. n/t

-Laelth

[phleshdef]

5. Whatever, we've bounced back from worse.

We shouldn't lie to ourselves and say everything is okay when it isn't. But I'll be damned if I'm gonna abandon all optimism and faith in what we can do as a people.

[whatchamacallit]

7. Nice soundbite

but it's what we've DONE "as a people" that shakes my faith and optimism. You can never solve a problem on the level on which it was created. First we'll need to find the brains to will to get past our bullshit, inbred american exceptionalism.

[phleshdef]

8. With all due respect, what you just said is nothing more than a historically inaccurate pile of shit

[whatchamacallit]

9. How so?

[Zalatix]

11. Who cares how? Phleshdef SAID it's going to be okay. Now sit down and listen to the nice band play.

Next tune up: "Nearer My God, To Thee"

[img][/img]

[whatchamacallit]

12. Ha!

[Zalatix]

10. It's not just us. The whole world's working class is headed into darker times.

In a few years from now I'll be back to say I told you so.

[FinsUpTechGuy]

6. hmmm...

and soon he will say UNLESS THEY APPROVE THE PIPELINE.

The current conservative government in Canada will do whatever they can to embarrass Obama this year. Harper literally went to the school of Karl Rove.

Maybe Mr. Carney should start worrying about the fact that China is literally buying up every inch of that country piece by piece.