Dodge is pessimistic today
In a story today from Reuters David Dodge is saying that the current Bank of Canada governor, the Canadian Government, and anyone else suggesting we will come out of this recession by end of the year are “dreaming in technicolor”My comments to this are:1) Does he still have access to the same information as he did when he was governor, so is he basing this opinion on facts, or on his opinion?2) Does it really matter? Should we really be focussing on when we are getting out or should we be focussing on how we should live now and more importantly in the future? We are all in this together, get out and buy things, especially bigger ticket items as they are a great buy now.3) When he says there will be a fundamental change to mature industries in Canada such as auto manufacturing. I have talked about this before, (and this is controversial) but in a lot of ways Canada should not be in some manufacturing businesses, including Auto’s. If we can not be competitive globally in this business and it appears we can’t then we should not be in the business.4) Is there really going to be a fundamental change to the oil sands? Where will the world get the oil from?Let’s all keep our chins up and get out there and keep our economy alive
