...in Canada.
The article is an interesting read because of the sense of optimism the Canadian press has; optimism that U.S. press never reports when it comes to our economy. The article also contrasts conditions in Canada to those in the US. For example, the article says that in the the US "unemployment is climbing." Stats from the US Bureau of Labor Statistics show that the latest published unemployment rate is 5.0% which is a whopping increase over the 4.9% we saw in January but down from the 5.1% we saw in March. The article also mentions Canada's low unemployment - which is 6.1%, and an increase from March. If we hit a 6.1% unemployment rate in the U.S. before 01/20/09, the press would tell us that things are worse now than they were in 1935.
Even with a quarter of negative growth, the experts the article cites shun the word 'recession.' In the U.S., we've been in a recession [sic] for about a year; even though the we have not been. Just in case we never hit a recession, the press is now touting that we may very well have a recession without having a recession. They'll do anything to avoid saying anything positive about the U.S economy.
I know things aren't perfect but this being an election year, the press will surely do all they can to tout the bad news and suppress the good, at least until November.
There is the issue of cost of living and inflation growth exceeding growth of wages.
Yes, and cost of living and inflation have always exceeded wages; at least in election years, that is.
There are also other warning signs: savings rates being at their lowest in decades, Americans taking on enormous credit card debt are two big ones and two that can be managed with some personal responsibility. The Invisible Hand can work the other way, too.
Yes, and cost of living and inflation have always exceeded wages; at least in election years, that is.
Really?
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