Tuesday, October 09, 2012

Mixed Messages

Today I was looking for Alberta news and all the reports are amazing.  For example we'll lead the country in economic growth through 2013 and our unemployment will be among Canada's lowest. It all sounds amazing. I'm thinking of the bumper sticker that says "Please God Give Us Another Boom and I Won't Waste It This Time" It would seem that your pleas were answered.

However, on my slow, slow drive down Calgary Trail today. (A sign of our booming city is how rush hour slowly becomes an hour early on each side) I heard on CBC that the IMF predicts another recession for the global economy.

“As we forewarned, the global economic slowdown is deepening and Canada's overheated housing market looks to be self-correcting,” “We expect these external and domestic forces to dampen Canada's economic growth this year and next.” David Madani, economist with Capital Economics

The housing market they are speaking of is only really in two places Vancouver and Toronto. It's not really a Canada wide thing.

I know Alberta is the best place to be for the next ride. I'm wondering how bumpy it will be but thanking my lucky stars that I'm in the best place to weather it. Low unemployment, high salaries, low taxes. Really, you couldn't position yourself any better.

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