Argumentative Essay: Is Canada In A Recession?

The Canadian economy today is at an all-time high with higher economic growth and rising GDP Canada is seeing great changes in the economy. The GDP increase by 1.1 percent in just the first 3 months of 2017. Canada is quickly recovering from the decline in oil prices that significantly slowed down the growth of the Canadian GDP. Because oil plays such a major role in the Canadian economy this had a huge tole on the overall GDP of this country. But, as the country approaches an increased GDP the energy sector does not seem to be hindering the GDP any longer. With the price of oil and gas going back up this has significantly increased the GDP of Canada due to the large amount of petroleum that Canada produces.

There is a real separation between the outstanding material resource created by the Canadian economy and the increasing monetary weakness of Canadians. we must always create conclusive move to build a certifiable economy that benefits all Canadians over the long-term.

Unemployment nationally 10%. Recession started in 2008; unemployment is high in record in Canada now.People haveno more money to

One of the most pressing issues faced by Canada today is unemployment. In fact, reports confirm that the jobless rate continues to increase every year. As of February this year, the unemployment rate was at 7.0%. The presence of unemployment rate is evident in various provinces. In Quebec, the number of people working declined by 26,000 in February. Alternately, the number of employed in British Columbia fell by 10,000; while Saskatchewan nearly 6,000 individuals are unable to find jobs. The Conference Board of Canada projected that the country’s labour woes could reach to more than one million workers by 2020. In addition to this, experts predict that the unemployment rate in this country will surpass that of the United States. Along with the dismal figures and projections, the problem of unemployment consequently creates numerous negative consequences on the nation’s economy, its government, and of course its people. Some of the known effects of unemployment include reduced spending power, an increase in financial cost, recession, and even crimes and violence. Individually, long-term unemployment may result to depression, loss of self-respect, and strained relationships with family and friends – ultimately causing damage to the person’s overall well-being. The adverse effects of unemployment only show that this issue imposes a significant cost both on a national and individual level. As such, it is of primary importance to create an immediate plan of action to alleviate

Most say the onset of the Great Depression was spurred on by the stock market crash. Although economists don’t think that it was the only reason for Canada being in such a terrible state. In the 20s, people had, in their spending frenzy, bought large quantities of stock though credit, stock that they could not afford. People owed money to businesses and banks, and accumulated debts that they couldn’t pay off. In 1929, when it came time to pay, they didn’t have the money, and profits dropped drastically. The values of the stock became completely worthless. With no money and no jobs, people had to leave their homes either because they couldn’t pay for them, or they moved to search for a job.

One of such events that affected Canada economically is the Drought in the Dust Bowl. The Prairies became the worst place to live in Canada because the price of wheat has dropped from $1.60 per bushel to $.38 per bushel and because of that many farmers abandoned their farms to look for other jobs. Drought returned in 1933 and was five years long with limited amount rainfall which also caused the topsoil to turn into dust and caused dust storms due to too powerful winds. Because of the right conditions thousands and thousands of grasshoppers were born and damaged 80% of crops that remained. It was bad for Canada because it just lost the people who produced on of its primary products wheat and now the Canada has no choice but to buy wheat from other countries and those can price it for whatever they want because Canada is in need. Secondly, the Stock Market Crashed on October 29, 1929 “Black Tuesday.” Many people invested large amounts of money into the stock market because as the value of the stock increased the more money they made when they sold it and to many it became like an easy way to make money. For example, Canadian Marconi, a radio company should have sold at $1 but sold for $28 because the market value inflated. Canada was affected by this because when the Stock Market crashed people who invested hugely into stocks lost large amounts of because they sold them for a fraction of the what they purchased it. People took

After World War I ended in 1919, Canada had a small recession during the World war, but after the war, Canada had the fastest growing economy in the world. The 1920s had been a successful period of growth for Canada, with living standards improving remarkably. Then suddenly, in the late 1920s the economy took a sharp turn for the worse. The depression originated in the US, directly caused by the spark of the stock market crash on October 29, 1929, known as Black Tuesday, but quickly spread to almost every country in the world due to

Department of Finance Canada (2009) states Canada has been significantly affected by the global recession and Canadian economy growth began to slow in the fourth quarter of 2008. Real GDP declined by 3.7 percent in the fourth quarter of 2008. Although Canadian economy is being affected by the global recession, the Canadian economy is still better than other industrialized countries (CMA Business Case)

George Santayana, a Spanish poet and philosopher said, "Those who do not learn history are doomed to repeat it." This quote applies to the Great Depression of 1929 and the Great Recession of 2008. There are many similarities between the two, like the causes, the actual events, and the aftermaths. Several factors led to the Great Depression, which were the following: overproduction by business and agriculture, unequal distribution of wealth, Americans buying less, and finally, the stock market crash of 1929. The Great Recession also had similar factors leading to it, like the housing “bubble” burst and less consumer spending. In both events, the Presidents enacted programs that they believed would help the American people.

“Luckily, we got into a position by 2008 that we could deal with recession. We’ve done a lot of smart things. Can we do things better? Sure. But when you compare things to where they were 20 years ago, I think we should be proud-and not afraid of saying ‘look, people can learn some things from us.’” Almost every Canadian is proud of what Canada has been capable of doing over the past 20 years. Some reason that Canada is the best place in the world is opportunity, connection with nature, education and equality. Canada offers brilliant career opportunities for parents and for students who have graduated from high school or university. Canadians have a very strong bond between them and the nature in Canada because they consider nature as a human

Canada is regarded as one of the wealthiest industrialized countries in the world. This indication is contrary to the well-being reality affecting Canadians. Despite being part of the Organization for Economic Co-operation Development (OECD), Canada has lagged behind her otherwise wealthy counterparts in the industrialized countries being position 19 out of 22 nations (Breznitz and Zysman, 2013). This has been attributed to the precarious levels of poverty in a majority of Canadian households. The country has not recognized any official poverty measurement although other universal measures such as LICO is used for measuring relative poverty, a more determinable measure of poverty for wealthy countries.

The following essay will thoroughly examine the severe economic downturn of 2008, formerly known as the housing bubble collapse. We will mainly focus our discussion on the effects the financial crisis had on Canada and the U.S and examine why both countries were affected differently. Although the collapse of the housing bubble is the most identifiable cause, it is extremely difficult to pinpoint one specific defining moment or event triggering the global financial collapse. There are many factors involved, due to the complex nature of the financial systems across the world, and this paper will delve in the key contributing variables that led to this financial crises.

Based on the general indicator it would seem as though in the short term the economy is growing from the recession with a high level of real GDP growth of 5%. However, with the continuously increase in oil price may hold the overall economy from going well as expected. Moreover, the exchange rate for both UK and Canada that continuously appreciate against US may affect consumption by consumer and the operation of the company.

Economics: * Unemployment nationally 10%Recession started in 2008; unemployment is high in record in Canada now. People

Throughout this five week class I have learned a lot regarding macroeconomics. One important topic that I have learned about and evaluated is the topic of increasing government spending to fight recession. I believe this is a good idea and I stand for it. I feel this way because it means that while we are in a recession, the government can try and increase employment and stimulate the economy with several forms of fiscal tools. To start you have to decide where recession is most significant. For example it could be on our trade partners, business incentives, or federal spending cuts. There could be more than one of those things that the country may be slacking on and there could be many options on how to fix the problems. Which leads us to