Double-digit GDP growth, Roubini’s recovery call and the secret of happiness.

• National Post. V-shaped recovery in the works, says economist. “Canada’s economic recovery is likely to be far stronger than markets anticipate, a Bay Street economist forecast Wednesday, indicating that a ‘burst’ of 10% growth is possible in the coming quarters.”
• The Globe and Mail. Why economists are watching the paint dry. “Fortune tellers read tea leaves. Astrologers read stars. And economists searching for signs of the recession’s end are reading … white paint.”
• The Globe and Mail. How will inflation and the loonie affect your investments? “Sheryl King, Merrill Lynch’s chief economist for Canada, took your questions on the economy, inflation and the dollar – and their impact on your portfolio.”
• Canada.com. Canadian consumers still confident about economy. “Canada may be facing its highest unemployment levels in 11 years and bankruptcies soaring, but that’s hardly put a dent in Canadian consumer confidence, which remains ‘remarkably resilient’ despite the less-than-rosy economic news crowding the headlines these days.”
• News N Economics. Canada’s “normal” recession turning into a “normal” recovery. “I have been pretty ‘positive’ about Canada. Compared to the U.S., the Canadian economy simply sits on a firmer (financial) foundation: housing fundamentals were stronger going into this mess; unemployment created a migration pattern toward work; saving rates are rising as in the US, but on a smaller wealth effect; and the overall GDP loss in the current cycle is expected to fall short of a recent time-series of Canada’s recession.”
• Reuters. Canada economy to resume growth in H2 – report. “The Canadian economy will begin growing again in the second half, boosted by global stimulus efforts, but the pace will be sluggish, the Conference Board of Canada said on Monday.”
• Reuters. Crisis spurs people to work for free – good or bad? “With U.S. unemployment at a 20-year high, some Americans are working for free while looking for a job, but experts are split over whether it is a sign of dedication or desperation.”
• RGE Monitor. Roubini on a Bloomberg panel: Recession will last another six months and the recovery will be shallow. “Nouriel Roubini, a professor at New York University’s Stern School of Business, and Robert Shiller, chief economist at MacroMarkets LLC and an economics professor at Yale University, talk with Bloomberg’s Tom Keene and Ken Prewitt about the outlook for the U.S. economy.”
• The Wall Street Journal. Fed prepares for rising unemployment amid higher growth. “Federal Reserve officials are preparing for an unusual recovery, in which the economy grows more robustly than they had expected but unemployment gets worse, according to minutes released Wednesday of the Fed’s policy meeting in June.”
• Financial Times. Lunch with the FT: Larry Summers. “Larry Summers, director of the U.S. president’s National Economic Council, usually eats at his White House desk or sitting around a nearby table with other members of the economic team. But today, for Lunch with the FT, Summers’ aides have persuaded him to walk down the stairs to the Ward Room, a windowless alcove near the White House mess.”
• The Canadian Finance Blog. Are guaranteed investment certificates risk free? “Yesterday we discussed what is a GIC, let’s now look into any risks associated with a GIC. Guaranteed Investment Certificates are generally considered to be risk free investments. However, there are some risks that you need to be aware of and also some ideas to reduce those risks.”
• The Financial Blogger. 6 investing rules revisited part 1: Stocks always go up. “The year 2008 showed us the worst face of capitalism and made several people rethink their investment strategies. The stock market fluctuations were bad enough to actually shake some of the most fundamentals financial lessons we have learned. Blinded by our greed (or by our naivety!), we though, once again, bad things could only happen to others; that our economic system was stupid proof. Well, we actually proved that it was stupid. Based on what recently happened on the stock market, I decided to revisit some fundamental investing rules.”
• My Life ROI. Advice for a recent graduate looking for a job. “First off, let me congratulate you for graduating! Welcome to the “real world.” The infamous real world … one that is really living up to its infamy right now.”
• U.S. News & World Report. 10 secrets to finding happiness during the recession. “While it’s true that some lucky folks are born with sunny dispositions, others, according to the latest studies, can learn to be happy.”

And please follow me at twitter.com/todayseconomy.

P.S. Another new blogroll friend.

• Thicken My Wallet is a great blog about, you guessed it, “anything to do with thickening your wallet.” This “recovering lawyer turned entrepreneur” blogs as a hobby because “I need a life!”