Canada’s recovery, OECD’s caution and pessimistic Americans.

• Reuters. Canada’s Flaherty says economy has not recovered. “Canada’s economy has not yet recovered from recession so the government will follow through on the second phase of stimulus spending next year, Finance Minister Jim Flaherty said on Wednesday.”
• The Globe and Mail. Canadian recovery on track, U.S. dollar safe, Carney says. “Canada’s recovery remains on track, although the economy has been slower to take off than the central bank anticipated, Bank of Canada Governor Mark Carney said Thursday.”
• The Globe and Mail. Keep rates low, OECD urges Canada. “Canada appears to have emerged from recession but unemployment will continue to rise to the end of the year, the Organization for Economic Co-operation and Development said Thursday.”
• Bloomberg. OECD doubles 2010 growth forecast, recovery to widen. “The Organization for Economic Cooperation and Development doubled its growth forecast for the leading developed economies next year and predicted a further acceleration in 2011 as China powers a global recovery.”
• The New York Times. O.E.C.D. cautious in economic forecast. “China has helped to pull developed countries out of recession this year, but the path to sustained growth will be bumpy, the Organization for Economic Cooperation and Development said Thursday in a cautious assessment of the global economy.”
• Telegraph. China has now become the biggest risk to the world economy. “Far from taking over as the engine of growth from an exhausted West, China is making matters worse.”
• The Business Insider. Japan blasts out of recession with big GDP gains. “Everywhere you look, the recession is over, at least through the lens of official government statistics.”
• National Post. Canadians felt the inflation pinch in October. “Canadians felt the pinch of inflation in October for the first time in five months as the cost of food and household items rose, while gasoline prices were down by less of a gap than the previous month, Statistics Canada said Wednesday.”
• National Post. Canadian inflation: Economists comment. “Canada’s headline inflation rate emerged from a four-month period of negative readings in October as the deflationary pressures coming from movements in the energy component of the CPI dissipated.”
• CBC. Homes sales to beat 2009 forecast: CREA. “National MLS home sales will likely exceed forecasts for 2009 and 2010 after a monthly record was set in October, the Canadian Real Estate Association says.”
• Canadian Finance Blog. 5 factors that might burst the housing bubble. “We are heading towards the end of 2009 and the Canadian real estate market is on fire.”
• Canadian Capitalist. What are these home owners thinking? “We are just recovering from a punishing recession in which millions of jobs were lost and portfolios were decimated by a market downturn.”
• The Dividend Guy. Top 100 investment lessons I have learned – part 2. “Here are the next 25 in my list of 100 lessons.”
• Four Pillars. Blending investment and labour income. “If you match the average market return, have you proven your skill as an investor, or have you just been in the pool when the water level went up for everyone?”
• Million Dollar Journey. Investing strategy: When to buy dividend stocks. “With my debt and savings habits under control, lately my thoughts have been more so on investing strategies.”
• Debt Kid. 7 ways to motivate yourself to save when all you want to do is spend. “Christmas is coming round the corner faster than an Amazon PRIME delivery.”
• Canada.com. Pension expert proposes fix for Canada’s retirement saving shortfall. “A supplementary pension plan is needed to give middle-income Canadians without workplace pensions a better crack at securing a comfortable retirement, says Keith Ambachtsheer, one of the country’s leading authorities on pensions.”
• The Economist. Something’s gotta give. “Like a truck rolling downhill, the rally in risky assets is proving hard to stop.”
• CNBC. Stocks overvalued, recession will return: Meredith Whitney. “Stocks are overvalued and the US economy is likely to fall back into a recession next year, well-known analyst Meredith Whitney told CNBC.”
• Fortune. Forget $100 oil. $80 oil is a problem. “Are cash-strapped American consumers on for another date with energy price misery?”
• Robert Reich’s Blog. The great disconnect between stocks and jobs. “How can the stock market hit new highs at the same time unemployment is hitting new highs?”

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