Canada’s recession is over. Ain’t it?

• The Globe and Mail. Recession over, growth resumes: Bank of Canada. “Canada’s recession is over, and the country is beginning what will be a long reconstruction of the wealth destroyed by the financial crisis, the Bank of Canada said Thursday.”
• National Post. Recession ain’t over ‘til the consumer sings. “There are at least 1,592,000 Canadians who don’t believe the recession is over.”
• National Post. Bank of Canada July 21 rate announcement: Analyst reaction. “Here is a roundup of analysts’ reaction to the Bank of Canada’s rate decision Tuesday, in which it left its benchmark mark unchanged, at 0.25%, and revised upward its economic outlook.”
• Wise Bread. Wage slave, debt slave. “This article has its roots in an article I wrote some time ago that used the terms wage slave and debt peonage – terms that some people objected to. Those making free choices aren’t slaves, they said, even if their poor choices result in a hard life. There’s some truth to that. But there’s also some truth to the notion that our system makes it easy – almost automatic – for people to trap themselves.”
• Canadian Capitalist. Doubts on equity risk premium. “After investing for ten long years and ending up with less capital than they invested, many are questioning the wisdom of long-term ownership of stocks. While I think bonds have a place in even the most aggressive portfolio, it would be a mistake to extrapolate the recent poor run in stocks far into the future and give up on stocks altogether.”
• Million Dollar Journey. Financial regrets. “As I was reflecting on some of the things we did that were radically frugal, I realized there were times we went too far. These are some of the things I’d change about my frugal ways if I had it to do all over again.”
• The Digerati Life. How to get a job by thinking outside of the box. “We live in a society in which most people fear being different, fear making waves and thus fail to exhibit their unique qualities. In this jobless era, however, the few and the bold (to paraphrase a military slogan) are the ones who will get the good positions available. For let’s not forget a very important fact: Companies are hiring, albeit not as much as usual.”
• Moolanomy. Forget economic stimulus! 20 ways to improve your finances today. “The global economy runs on a binge and purge cycle, which makes it especially difficult to stay steady and mindful on a personal level. It can be hard to resist living beyond your means during boom times, and even harder to keep your head up during the busts. But no matter how stormy it gets out there, your best bet is always to remain diligent and conservative – otherwise you may ride the wave right into the gutter. Use the following tips as guidelines to keeping your head above water – fiscally, physically and emotionally – in these particularly unsteady times.”
• Greater Fool. Home.com. “Today I will elaborate on why it is absolutely inevitable that real estate has a troubled future. It may not crash with U.S.-style velocity, but anyone who has bought recently, is buying, or does so in coming months will feel the sting. It could be a life-altering experience for those who thought money would stay cheap or property values ascendant.”
• Four Pillars. Pocket listings. “In real estate there are listings which can be called “pocket listings“, “in pocket listings”, or “exclusive listings”. In each case the idea is the same, an agent *DOESN’T* advertise the property in order not to share the commission with another agent (by representing both the buyer and seller) or to only share the commission with agents they have a special relationship with. The most significant feature of such listings is that they will be kept off of MLS.”
• CBC. Leading indicator slips in June. “Canada’s leading indicator, which points to the economic direction the country is headed, continued to slide gently in June, as it had in May, Statistics Canada reported Friday.”
• Daily Finance. Can China’s expansion pull the rest of us out of recession? “China’s economic recovery is underway, but can the world’s third largest economy drive both an Asia hemisphere rebound and help jump-start the U.S. economy?”
• About.com. What is a U, V or W-shaped recession? “Economist Nouriel Roubini recently predicted a U or possibly W-shaped recession. What do these alphabet-soup descriptions of recession mean?”
• Salon.com. Who caused the economic crisis? “Was it preventable? Was criminal activity involved in bringing it about? And is it over?”
• Newsweek. ‘Booking’ the economy. “For those of you who feel compelled to get to the bottom of every problem and who, just coincidentally, are determined to spoil your summer vacation, we have the perfect solution: read about the economic crisis. If that doesn’t depress you, nothing will. It’s beach reading for compulsive worriers.”

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