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Recession mindset takes toll on retail sales

VIRGINIA GALT AND MARINA STRAUSS

From Tuesday's Globe and Mail

Latest comment posted at 5:52 AM EST 23/12/08

Survey says a quarter of Canadians believe their families are worse off than they were six months ago as pre-Christmas sales fall sharply ...Read the full article

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  1. Soon To Be Returning Expat from Raleigh, United States writes: Good time to make a big ticket purchase? Really?

    I'd rather pay MORE for something in more prosperous times than less in recessionary times.

    For me atleast, cash in the bank is more valuable than anything else during uncertain times.
  2. mike sty the Coalition Centrist from Canada writes: Consumer confidence lowest
    in a quarter century
    --------------------

    Tory times are tough times.

    Dump Harper

    Dump the Liar.
  3. Comments closed, censored, hidden, deleted, disappeared from Mini Bushland, Canada writes: Poor Conference Board: needs to ask Canadians in order to know whether they are worse off. --- Can't even figure it out by itself, as all of us can do... have done a long time ago already, and as all data and statistics will tell the first nerd around. -- Poor Conference Board!
  4. Trevor Comeau from Orleans, Canada writes: Why is this a bad thing? Recessions are required to reset the excesses of booms.

    Spending less and saving more is the only way to ensure an economy remains healthy. The real problem is that the government is being pressured to try to 'help'.

    We shouldn't give $4b to bail out a company that makes things that people don't want or need.
  5. The Susus from Canada writes: Let us be frank, Canadians like the traditional North American consumer, think their life style sinks when they can't buy things every day, and replace televisions with new ones every six months.

    I always maintained that it would be essentially very easy to overthrow the west, just take away their cable and air conditioning, and we'd all be crying babies within a few weeks.

    The truth is, the vast majority of people are still working, how the hell could they be doing "worse off" already? Unless you are laid off or somehow already directly affected, you can't be worse off yet?

    Sorry, I just find everyone who has never gone through "true" bad times or low income sometime in their life, a bit whiney when the slightest bad wind comes around. Oh no, my three car lifestyle is threatened, end of the world...the sky is falling!
  6. D W from Halifax, Canada writes: I trust any reasoned individual (which, for obvious reasons, would exclude Mike Sty) doesn't question why consumer confidence is so low. The messenger (the media) has again created an hysteria.

    Fueled by idiotic politicians (every party that was haranguing Harper to declare this the worst recession in memory, instead of being optimistic...and then had the gall to criticize him once he acknowledged the slowdown), the media is never at a loss to exaggerate a molehill into a mountain. One can only hope at least one of the irresponsible outlets is forced out of business by the crisis they have, largely, caused.
  7. The Real PS from Canada writes: D W from Halifax, Canada
    .
    Exactly, well said.
  8. Gord Gilmour from Winnipeg, Canada writes: D W from Halifax wrote "the media is never at a loss to exaggerate a molehill into a mountain"

    I have to disagree. In fact the inattentiveness of the media is precisely one of the factors that contributed to everything getting as bad as it has.

    Too much attention to pointless crap like JonBenet Ramsey, etc., too little attention paid to the fact that the foxes were looting the henhouse.

    Part of any recovery from this mess will include a much stronger media that actually does its job and contributes to transparency.

    But blaming the media because they're reporting things are in fact a mess -- that's just immaturity. Last time I actually wanted anyone to keep the cold hard facts from me, I was about 11.

    Since then, give me the unvarnished goods. Real facts help me make real decisions.
  9. CallofDuty . from Canada writes: The parking lots don't seem as full as they used to be in past holiday seasons.
  10. Jack Sprat from Calgary, Canada writes: Gord, you have been beating this drum for a while. No one is criticizing the media for reporting on the economic downturn. They are criticizing the media for going over-the-top.

    Here is one example: they throw the D word around with abandon, quoting every excited economist they can find. However, we far, far from anything even resembling a depression. Heck, we are far, far from the size of the downturn a quarter century ago.

    Yet, everyone throws the word around like we're on the edge of complete economic collapse.
  11. Rockin Johnny from Calgary, Canada writes: Hopefully this time around people will learn to live within their means. I mean come on...do people need three vehicles, a snowmobile, a boat, three big screen tv's, a 3000 sq ft house, a cottage, three computers and a mulititude of other useless gadgets, all bought on credit. Time to wake up people and get back to reality.
  12. Kelly Kavanaugh from Toronto, Canada writes: Tories, dear reader, have nothing to do with a global
    recession and, in fact, do better without trying to solve
    every problem and trowing money around like mad
    socialists! Everyone will have to "bite the bullet"...no easy
    way out this time.
  13. Gord Gilmour from Winnipeg, Canada writes: @Jack Sprat

    I'll keep beating it too.

    I happen to disagree with that assessment. No matter how much the media talks about this, it can't make this situation any worse.

    Make no mistake... there's a reason people are using the 'd-word' so much. Because we're as close as we've ever been to one in living memory. That tends to make people sit up and take notice.

    But I can't accept that anyone wouldn't want to be aware of that fact.

    The real problem here is that only now are the herd of economists figuring out what's going on and reporting it. But anyone who's been listening carefully could have heard lots of people saying this thing would end in a trail of tears.

    Bottom line, I see a lot of people ready to shoot the messenger, but a better messenger would have prevented us from getting here.

    By all means. Be frustrated at the media. But NOT because they're finally doing their jobs.
  14. P Martin from St. John's, Canada writes: As much as I despise Harper and his policies, this potential recession have little to do with him. Sure he spends like a drunken sailor, lies and manipulates, and is so lacking in leadership and ability that George Bush looks good. Yes he has turned a huge surplus into a huge deficit.

    Oh yeah, I was talking about consumer confidence. Unemployment in Canada is still quite low. But people feel they could lose their jobs. Even if you currently have a job there is the feeling, however unjustified, that you could be gone soon. With the exception of some hard hit sectors, most people currently working will be working in 6 months.
  15. Hee Hoo Sai from Canada writes: Tory times are terrific times. Once people grasp the concept that they can do whatever they want when they don't have to rely on handouts, life is good. Not so if you are a chronic complainer that expects someone else give you everything. Might as well form a local chapter of caw, "united they snivel" separately they would have to find jobs.
  16. aging oldtool from Canada writes: DW from Halifax, what are you talking about? The "media" has been delivering the consumer marching orders for decades now and you blame them for not standing up and not saying enough about a crisis in the market place. Wake up fellow. The media is part of the industry that preys on the consumer. Yes, in a perfect world the media would be the first to raise alarm bells, but they have a profit to earn and that comes from being part of the game. This is not in any way a defense of the media, but rather a clarification of reality for those who have a simple (I call it naive), understanding of the responsibilities of society's various states. Yes, there are good journalists prepared to delve into economic issues. Unfortunately there are a great many media outlets that don't want any such stories harming their ad revenue projections. Of course they are doing stories on the Big three bailout, but ask yourself why the same media seldom if ever run copy on the sleezy little ripoff tricks of local auto retailers? The Big three are now tarnished icons, because everyone is beating up on them, while the local dealers are treated as the gold standard, because they deliver it right to the media's coffers. Time to lower your expectations of the media my friend.
  17. John Stanton from 'Botsford, BC, Canada writes: Tory times are indeed terrific times. As long as you don't care about your fellow citizens (oh, look, "junkies"!)((oh, look, the "homeless" -- why don't they get jobs and stop annoying me with living in doorways under cardboard? Well, I suppose that as long as they don't interfere with my big fat tax cuts, it's no skin off my nose if they choose to die in the streets.)) --- Why is it that the most conservative people tend to be the most religious people? And why is it that their i-got-mine-so-eff-you conservatism outweighs their be-kind-to-the-poor-and-ill religiousity?
  18. K Ottawski from Ottawa, Canada writes: The Susus from Canada writes: "The truth is, the vast majority of people are still working, how the hell could they be doing "worse off" already? Unless you are laid off or somehow already directly affected, you can't be worse off yet? "

    Exactly right. As long as you have your jobs there is nothing to worry about yet. Relax and have a drink. No need to worry about things you can not control
  19. James AH from Vancouver, Canada writes: Two story lines dominate news media: economic recession and economic growth. Are these the only two options? Is it not the exaggerated importance of growth that led us to recession? It does not appear that much is being learned from the current crisis. We need to start looking at other benefits of an economy, such as how jobs are created and lost, how wealth is distributed, and how it is governed. Most importantly, NO individuals - I'm thinking of Madoff - should be allowed to have that much power over that much wealth. Why do news media continue to focus on the importance of growth when economies do much more than that.
  20. Luc Delorme from Ottawa, Canada writes: I have to agree with The Sussus on this one. For those that have actually lost jobs, this indeed sucks, but those people are still the minority, and mostly concentrated in one sector for which the writing has been on the wall for a long time. For the rest of us that still have our jobs, goods are getting cheaper, mortgage costs are getting cheaper (hopefully anyone that got a mortgage in the lase 18 months had the foresight to see this coming and went variable rate), so even though my salary remains flat, I'm still better off than I was 6 months ago.
  21. Ori Ben Zion from Vancouver, Canada writes: I have to agree with Gord Gilmour. While I think the Globe is somewhat less guilty of it, local media here in Vancouver failed to report on the real estate bubble as it developed despite the warnings of numerous independent critics. The papers and other media interviewed stakeholders with a vested interest in seeing the bubble continue. Time and again realtors and economists working for realtors and developers were given the opportunity the explain whey we had entered a new paradigm and prices would never go down. Now those same stakeholders are being given the opportunity to explain that real estate is a long term hold and that you are buying a home and not an investment.

    The reality is that local media dependent on adverstisers is more concerned about retaining advertising dollars than journalistic integrity. You don't bite the hand that feeds you.
  22. Daniel Sturgis from Morocco writes: Don't blame Harper? Are you kidding? Retirees have seen their investments and savings chopped in half. What do I blame Harper for? I blame him for gutting a surplus that should have been increasing. I blame him for being Bush's biggest cheerleader. I blame him for openly bashing alternative energy solutions when they present the most viable economic diversification strategy for the future. Ultimately though, I'm glad for twelve years of competent Liberal rule prior to Harper, and the fact that a minority position has kept his incompetence somewhat in check. I'd cringe to see where Canada would be now had Harper been in power for the last fifteen years. Iraq, bankrupt, and with a trillion extra dollars in military spending soaking up our tax dollars and spiralling Canada's debt out of control.
  23. The Susus from Canada writes: Think of it this way, even on unemployment, you can afford some cheap wine/beer and a pizza....
  24. Ori Ben Zion from Vancouver, Canada writes: I don't agree with Sussus and many others here with a "don't worry about it now attitude". Many people are witnessing the slowing of their workplaces and accordingly it is normal to fear job loss. That impacts peoples psychology and it should. The job losses in Canada are just beginning. It is very likely we will see unemployment exceed 9% by the end of next year.

    Luc Delorme, things getting cheaper means defalation. Stagnation in the economy with deflation is not good. Wages don't go up during defalationary times. Your assets are worth less but your debts are the same. It's time for some of you to come to grips with reality. We're in for some very tough times.
  25. Punkface *--* from Somewhere out there...., Canada writes: Last friday eve, the restaurants were filled with customers, the malls were full, all weekend long they were full too, and I spent more than last year.

    I tend to agree that repeating th esame bad news in the media can make things worse, only to profit to someone I don't know.

    So far things have been fine for everyone I know, except for their RRSP's.

    I don't get the message of this article. Perhaps 'cos I'm not a torontonian....?
  26. scott thomas from Canada writes: While Harper may have had nothing to do with this recessions (except supporting the idea of non-regulation, which is of course one of the fundamental causes of this fiasco, oh, and cutting gst so that there's now no wiggle room and he's forced himself into deficit financing, never mind the abandonment of social support programs in favour of transferring wealth from the poor to the rich) he nor his weak finance minister appear to have the skill set required to navigate the current financial crises.
  27. Kevin Cochrane from Virden,MB, Canada writes: LOL. This is the stupidest headline yet. The media have been bleating 'this is the end of days' for months and then SHOCK! consumer confidence at it's lowest level in years. Like, wow, eh? I wish media outlets were the first thing to go under in a depression.
  28. Dick Garneau from Canada writes: In the 1980/81 recession unemployment was much higher than today. So job security can't be the problem.

    Most of the apprehension comes from the USA recession which is in pathetic shape.

    Thank the voting public for putting the Conservatives in power.
    .
  29. S D from Canada writes: Well said Susus
  30. stan unknown from winnipeg, Canada writes: WOW - did not know ONTARIO was feeling that blue.
    Bummer for the Investors, and the Banks perhaps you will have to start to work, elsewhere? You can keep your banks there.
  31. chris vb from amherstburg, Canada writes: just living within our means will keep us out of trouble , now, if we only could convince our multiple layers of government to do the same.
  32. Justin Kase from Victoria, Canada writes: This is one sad measuring system. How do consumers get confident or unconfident? By the amount of bad news they read about in the media, which has a self interest in only reporting bad news. Self fulfilling prophecy?
  33. Smoking Man from Canada writes: VIRGINIA GALT WOW what a suprise

    Gloom and Doom VIRGINIA GALT hit an other one on the head.

    Lets see Since OCT 1 Main street media, & TV Papers have been bombarding and scaring the public with dire perdictions Those fears keep walets closed. hence the predictions come true.

    Brovo Virgina
  34. kelly elly from toronto, Canada writes: The reason people feel that they are doing worse off is because even though big corporations are making profits, their employees are making next to nothing. Especially the banks! This year everyone's been warned that they will not be getting bonuses and that their raises will be less. How has that changed? Isn't that the same excuse these companies use all the time? Look at the income levels from the 1970 to now. Hasn't changed much.
  35. Saint-face d'Orignal from Kitigan, Canada writes: I know how tough times are. I've already had to let go of most of my fast-food suppliers and I think Wal-mart won't fare as well as they once did with my account.
  36. Smoking Man from Canada writes: kelly elly from toronto, Canada writes: The reason people feel that they are doing worse off is because even though big corporations are making profits, their employees are making next to nothing. Especially the banks! This year everyone's been warned that they will not be getting bonuses and that their raises will be less. How has that changed? Isn't that the same excuse these companies use all the time? Look at the income levels from the 1970 to now. Hasn't changed much. .................................................................. So true, everyone is against CAW and UAW re cars, this has been the only group that has not lost as much ground as everyone else, buy standing up. The reason the USA economy is so dead, The peoples wages dropped so low compared to what things cost that in order to sustain life they had to go in debut then that run out. Our politicians our economist, our leaders, our media DON’T GET IT. Someone working at Mc Donald’s 30 years ago could buy a big Mac meal with 1/8 of an hours salary, today they need a full hours worth of work to by one. 30 Years ago we had many good paying jobs, today being replaced by wal mart type jobs. Young men are getting so shafted they can't even afford auto insurance today.
  37. Is there anybody out there from Saltspring Island, Canada writes: This is so much fun let's all vote Conservative again
  38. Gemma B. from Canada, Canada writes: Let me see...I've had the busiest November and December so far in my 18 years in business and have contracts well through the winter already booked, I have little in the stock markets and can afford to wait it out, I've spent more this year than last on Christmas, I have no credit card debt, one year's worth of money in the bank like I'm supposed to, my mortgage rates are lower than ever, gas is cheap again, I know few people that have been laid off (nothing more than 'normal'), and even I can't keep my optimism up anymore. I don't even want to get up in the morning, geez....I think it's time for me to go to rehab for my new-found media addiction. It's interfering with my daily life.
  39. Connie Weber from Vancouver, Canada writes: Good Show!
  40. CallofDuty . from Canada writes: TSX almost down -300 points...good job Canada!
  41. Counterspinner tells the truth from Canada writes: The confidence started sinking when the Separatist Coalition headed by Duceppe almost took power. Now, we are due for more political instability thanks to the sepratists and socialists. If you want consumer confidence to go back up, elect a harper majority and let him govern without socialist and separatist input.
  42. david t from Canada writes: "Gemma B. from Canada, Canada writes: Let me see...I've had the busiest November and December so far in my 18 years in business and have contracts well through the winter already booked, I have little in the stock markets and can afford to wait it out, I've spent more this year than last on Christmas, I have no credit card debt, one year's worth of money in the bank like I'm supposed to, my mortgage rates are lower than ever, gas is cheap again, I know few people that have been laid off (nothing more than 'normal'), and even I can't keep my optimism up anymore. I don't even want to get up in the morning, geez....I think it's time for me to go to rehab for my new-found media addiction. It's interfering with my daily life."

    Gemma B. from Canada you are a propagandist and a LIAR. The auto sector is shuting down for a month and in come cases over a month. HUNDREDS OF THOUSANDS will not be working during that layoff. You head in the sand people are so pathetic.
  43. John Stanton from The Po'house, Ontario, Canada writes: >>>"Gemma B. from Canada, Canada writes: Let me see...I've had the busiest November and December so far in my 18 years in business and have contracts well through the winter already booked" --------------------- And what's your business? Collection agency? Cleaning out repossessed houses?
  44. Tyler Phillips from writes: HUNDREDS OF THOUSANDS will not be working during that layoff.

    And MILLIONS will continue working just like they do now.
  45. Don Quixote from The cold Mosquito Belt, Ont., Canada writes: Rockin Johnny from Calgary, Canada writes: Hopefully this time around people will learn to live within their means. I mean come on...do people need three vehicles, a snowmobile, a boat, three big screen tv's, a 3000 sq ft house, a cottage, three computers and a mulititude of other useless gadgets, all bought on credit. Time to wake up people and get back to reality.

    That's the Key: Buying everything on credit doesn't make so much sense when your job, career, professional position is in the dumps in the year to come. And a lot of people get by buying pre-owned, pre-used clothes, cars and all and are just as happy, spending far less than having to have everything new and expensive, eat home cooked meals and brown bag their lunches.

    There is no problem if you can afford all the things you shop, there is a problem if you afford things where the credit company holds the balance and comes calling....
  46. Bubbles X from Canada writes: In order to win back confidence of the main street. Government should ban all those so called "analysts" making negative calls on even some big profitable companies. It is even better than throwing $$$$s to the big Three.
    For those so called "analysts"....wish they could make those negative calls a year ahead of the big fall. It really doesn't need an experience analyst to make negative call at the present time. So much for their service......thanks but no thanks. Wait till the world economy getting to the gloomiest point....then you all loss your job......
  47. john near lake ontario from Canada writes:
    I told you I won't be buying a Detroit 3 car now my taxpayer money was just stolen from me!
  48. can I vote again from around-Kingston, Canada writes: [ Rockin Johnny from Calgary, Canada ] writes: Hopefully this time around people will learn to live within their means. I mean come on...do people need three vehicles, a snowmobile, a boat, three big screen tv's, a 3000 sq ft house, a cottage, three computers and a mulititude of other useless gadgets, all bought on credit. Time to wake up people and get back to reality.

    2 questions mate... one) how much credit> and two) what is appropriate reality? er... three) why do you get to define what I want?

    cheers
  49. S H from Windsor, Canada writes: Of course we're worse off. We don't have good jobs anymore. You can thank free trade for that. Our gov't is controlled by greedy big business and unions are becoming extinct. Does anybody see a trend here? Standard of living has been dropping for years and big business has been using labour as scapegoats. You just have to look at what has transpired in Washington over the last 6 months to see this. People need two incomes now to survive. There is no stability anymore!!! The rich and elite have created this mess, not unions and the middle class....wake up people! LET THEM PAY FOR IT!
  50. Green Canada from edmonton, Canada writes: why should they be confident...

    1. the markets are trashed by greedy paper shufflers
    2. Hedge funds is actually 10B$ ponzi scheme
    3. SIemans runs business like a criminal organization (bribery)
    4. oil and gas and property prices are governed not by value but by speculation (hence the bubbles).

    the only thing I'm confident in is that the concept of "corporate social responsibility" is a laugh and what drives the market is greed and greed alone.
  51. Green Canada from edmonton, Canada writes: ooohh yeah I forgot about
    5. private profits/public debts -- thanks big 3 and U.S. banking system
  52. can I vote again from around-Kingston, Canada writes: [ S H from Windsor, Canada ] writes: ... standard of living has been dropping for years and big business has been using labour as scapegoats. ... People need two incomes now to survive...._

    exactly, two people needed to acquire stuff, no problem there as long as the two people agree the stuff is worth it.

    But in the end .. it's really only stuff
  53. Gemma B. from Canada writes: For John S and David T.....I won't tell you what industry I'm in because you'll probably try to get a job in it. My industry has taken hits in the past and no one ever asked for handouts. When my industry went through changes and downsizing, people either adapted, shaped up or got out. Which is as it should be. The ones who did not over-inflate their prices, who gave good value for their money, who had strong work ethics, who delivered what they said would, who were careful enough financially to weather out the ups and downs, and who adapted, made it through the past challenges and are currently thriving. I guess there are too few with those basic abilities so the work gets funneled to the few who do. Many industries are not as effected by a 'recession' as they are by other circumstances. But a lot of people are better at whining than they are at working. The work ethic in this country is deplorable. I gave up hiring help years ago.

    The only two people I know who were laid off recently were laid off by a hugely profitable company notorious for downsizing and making the remaining staff work longer hours for less pay. So far, the doom and gloom just gives more mega-corporations like this an excuse to pay less for more, for the whiners to keep on whining and the media to keep selling papers. According to you David S, if it's not focussed totally on the negative it's propaganda. Oh such wise and balanced thinking....

  54. S H from Windsor, Canada writes: Can I vote again......true enough but we also need two incomes because you never know when your spouse will be out of a job and have to go back to school for the second time! Unless of the course her company will pay for relocation to Mexico, so she can keep her job!!!
  55. Green Canada from Edmonton, Canada writes: on a final note...let's put this in perspective shall we...I was hearing how times are so tough that budgetting has to occur...some family on the radio indicated how times were tough and that they didn't budget for a new dishwasher when their old one broke??!! this is living outside the realm of reality.... I have no dishwasher and haven't a budget for one...I gladly do dishes by hand. (OhGOD NOOOOO!!!) next thing you know someone might have to downgrade from satellite tv to cable!! LOL---our civilization is so pathetic.

    people live on 1/1000 of what we do so these stories are simply alarmist.
  56. Gemma B. from Canada writes: Green Canada...I can relate as one who does not have a dishwasher or a wide screen TV. I guess that's why I have money in the bank and no credit card debt. Hey, maybe they'll start making things that last past the warranty again, what a concept.

    And for anyone who needs a job in Ontario, Hydro needs 25,000 workers
    http://www.thestar.com/Business/article/543284
  57. can I vote again from around-Kingston, Canada writes: [S H from Windsor, Canada] sadly that is the proverbially Elephant -in-the-room , as a great country like Canada we should expect a higher level of living... instead we require two people to go out and earn (umm excuse me .. pay taxes) for the same level of living as the previous generation.

    some progress eh?
  58. S H from Windsor, Canada writes: Green Canada........you're missing the point. People also live in Mud shacks wondering where their next meal is coming from. Does it have to come to this before people realize that we are going backwards in society?

    Corporations are setting us back, using 3rd world labour...isn't that slave labour? They use country's borders as bargaining chips to get what they want...which is usually MORE tax payer money!

    Our gov'ts haven't helped and now they're are using even MORE of our money to keep these greedy Bast*rds in business and they want us to take concessions? Even a high school drop out could have seen this coming, when free trade was implemented. You can't expect your industry to survive if you let cheap foreign company's in with no legacy costs. It's taken 100 yrs. to build up our standard of living in this country and now in just a few short years, it is disappearing!

    The only thing the average working man is to blame for, is falling for this propaganda. Not for wanting to buy a dishwasher to help improve his way of life! I'm all for trade but but the rules must change!
  59. r b from Calgary, Canada writes: Nothing boosts consumer confidence like having money to spend.

    So instead of a $50 Billion deficit based on print and spend, why not a $50 billion deficit based on a 50% rebate of federal income taxes?

    Same net deficit, much different result. I doubt that many consumers will be more inclined to buy a car just because a few more potholes are filled in: and the pothole fillers are going to largely be low wage subsistence workers, hardly inclined to rush out and buy the big screen TV.

    In an economy with over 90% employment, consumer spending will be a far more efficient stimulus than government make work or make welfare programs.

    Tax cuts/rebates first!
  60. Knuckles Muldoon from Etobicoke, Canada writes: 2009 will be the startof the "technical" depression.
  61. H Texmes from Gadshill, Canada writes: To mike sty the Coalition Centrist:

    Liberal or NDP times in Ontario are tough times - usually for all Canada. Always have been ... always will be.
  62. b W from Canada writes: can I vote again from around-Kingston, Canada writes: why do you get to define what I want?
    We don't. However, when one of the consequences of this is that the government must step in and use taxpayer money to correct the problems of overindulgence, we all get to say what is appropriate. I personally don't care what people spend and what they save, I care when they are overleveraged and expect everyone else (creditors throught bankruptcy, taxpayers through bailout) to pay for their greed
  63. Dimitry Dusterov from Toronto, Canada writes: The problem is we are allowing corporations to operate in over populated 3rd World countries where they get paid 25cents/hour.
    Our standard of living will eventually decrease to thier level.
    Which will be a problem as Its cold in Canada and no one will be able to afford to heat their houses
  64. can I vote again from around-Kingston, Canada writes: [ b W from Canada ] writes: can I vote again from around-Kingston, Canada writes: why do you get to define what I want?
    We don't. However, when one of the consequences of this is that the government must step in and use taxpayer money to correct the problems of overindulgence, we all get to say what is appropriate.

    B w, collectively we decide where we go as a society - spending, saving, morality etc... unfortunately we prove to be very good sheeple when it comes to the interests of Canadians. We're about 20 years behind on it.
  65. Bob Sleder from Canada writes: Canadians are pessimistic for the same reasons that the rest of the world is pessimistic. The biggest kid in the school yard has stopped buying toys because daddy won't flip him a dime and we supply the toys. Unless Johnny starts consuming like a pig at the trough again, we will lose jobs. One other thought : Real growth has been stagnant since around 1970. Thats really not such a bad thing because the rest of the world is catching up, and ultimately thats a good thing. How many fracking TV sets, bathrooms and bedrooms does one house filled with 1.1 kids need.
  66. Cowtown Chick from Canada writes: When asked if their families are better off today than they were six months ago, only 12.5 per cent of survey participants agreed. “At the same time, 26.5 per cent said that they were worse off..."

    So then it's reasonable to deduce that 61% said nothing has changed....thanks for confirming that.
  67. Ed Long from Canada writes: We are in a negative news cycle and confidence is way down.

    There is a big Oh-Oh on the horizon if oil stays down.

    Today's Globe Market Blog states that existing projects in Alberta produce oil at costs of $35-$39/barrel and new projects will have costs of $75-$90.

    With oil hovering under $40/barrel, a lot of optimism disappears.

    To say to hell with Big Three auto jobs is as self-destructive as saying to hell with oil jobs.

    The "R" word and "D" word have become common with editorialists over the last month, now the Globe Report on Business has added "Stagflation".

    We cannot control any of this. We are along for the ride and predicting the how, when or why of a recovery is silly because we basically did not predict the depth of what was coming.

    It will shake out and the timing ..... nobody knows.
  68. Marcus L from Calgary, Canada writes: I work for an energy company which makes money all the way to $16 a barrel. I received a 4% raise for 2009 and my 2008 bonus was larger than I expected. I´m currently vacationing in the Caribbean. Where do I sign up to give an opinion exact opposite to the poll results?
  69. Free The West Free The West from Rock of the Westies, Canada writes: Funny how the G&M; doesn't mention Ignatief [Dr. Evil] expressing support for the coalition!!!!

    Ignatief had to, to keep the pressure on Harper, but Iggy can count on the Toronto media to downplay it for him.
  70. Darrell Clarkson from Sherwood Park, Alberta, Canada writes: It happens every time Canadians elect a Tory Government. We then have to bring back the Liberals to straighten things out!!!

    In addition Stephen has now appointed 18 more Sanators and has promised 31 more MPs on top of the $30 billion dificit that he is projecting. How much will this cost us for salaries, benefits, perks and expenses?

    It will take the Liberals 20 years to get us back into the black ink!!

    Merry Christmas!
  71. Zarny YYC from Canada writes: Interesting.

    I just got my Christmas bonus last week and am quite looking forward to all the sales retailers have over the Christmas holidays.
  72. Zarny YYC from Canada writes: Darrell Clarkson from Sherwood Park, Alberta:

    Canada would be getting the new MPs regardless of who is in gov't. It is an adjustment based on census data and is mandatory.

    The $30 billion deficit is being demanded by the opposition parties.

    Notice the economic update didn't contain "stimulus" spending and how the Libs and Dippers started squealing.
  73. W Price from Toronto, Canada writes: Good for you, all 2/5 of the populace who are doing so well by the times, just waitin' for those buying opportunities... Have a great holiday season, you will continue to prosper as the billions in bail- out money passes through the CORPORATE filters.This buys time to REALLY wring out those INDIVIDUALS in the bottom 2/5 ...The alacrity with which our government jumps to it to help BANKS and CORPS is the reason that INDIVIDUAL "consumers" are so negative.
  74. jason rohlig from guelph, Canada writes: I wonder how long it took the board to fighure this out? WTH people are being laid off and business closing everywhere, housing meltdowns. Of course people are nervous and have a negitive outlook on their futures. These eggheads at the board need something else to do with their time.
  75. Ravage I from Hilarious, Canada writes: Darrell Clarkson - Yes, Dion would have been a wonderful pick. LOL. Somehow you and Mike Sty manage to blame all of Canada's issues on Harper. Brilliant people you are.

    All newly appointed senators apparently had to agree to approve senate reform. Something that is very much needed. Would you not agree to that?
  76. Ned Chiwalski from Canada writes: No real surprise that confidence is down. With rags like the mop and pail here telling readers for the past several months that things are tough all over, and the press in general playing up the negativity people will start to believe it.
    As for the posters blaiming the Harper conservatives, give your heads a collective shake. This slowdown is global and is affecting all nations! If you fools really believe that the libs could have isolated us from this event, you're dummer that you all sound!

    Merry Christmas!
  77. David Bannister from Canada, writes: There is a recurring theme here from large organizations that need our money: They know what is best for us, and we can't live successfully without them. Once they have our money, they have great resources to kick in to convince us that we need to give them even more.

    This has gone on for centuries... religions, churches, cults, crime syndicates, monarchies, governments, media, corporations, unions.

    Most have, at some time or other, given in to greed or power to such an extent that their empires collapsed or they almost completely lost the trust of their following. This often coincided with sharp calls that their activities needed to be free of regulation for the common good.

    We appear to be seeing this collapse of trust on an almost unprecedented scale right now, for many good(?) and well-publicised reasons.

    Unfortunately, the fallout will not be any prettier than it has in the past. I for one don't have confidence that "consumer" pessimism is over-done. These are the people who ultimately have to pay the bills for overindulgence at every level.
  78. lady been from toronto, Canada writes: the G&M; should leave this on the website so we can check back in 6 months and see how everyone who posted is doing. a lot of people on the board seem to think this is just media doom and gloom. Of course in 2007, the media said that house prices would never come down in canada, and that everything would be fine in the US by end of 2008.;-)
  79. David Bannister from Canada, writes: And how often have we heard over the past couple of decades from our most informed sources that a depression wasn't possible any more? Controls are just too good at every level, and the markets are so sophisticated...
  80. Wilma Guywin from Allover Canada, Canada writes: I wish all those people with no confidence would get out of the mall so I could finish my Christmas shopping.
  81. Modest Insights from Ottawa from Canada writes: I'm totally confused and, as a result, I have a lot of questions.

    Every day, for the past several months, we get crushed with a tsunami of bad news, but yet we should be thinking that our economic situation will improve six months from now. Is this supposed to make sense?

    If, as Mr. Hodgson points out, "perception of the economic outlook is worse than the reality", then why are we being fed constantly with negative news? Which part of it is real and which part is attributable to "perception"?

    Did the TSX tumble again today for real of "perceived" reasons?

    Is there a way to put an end to self-fulfilling prophecies? Is there an end is sight to this vicious cycle?

    Last, but not least, who's in charge of the asylum?
  82. Dave Cajun from Bobcaygeon, Canada writes: No wonder confidence is so low with all the negative press we're bombarded with on a daily basis. Exaggerated negative reporting from news media such as the Globe and Mail is fueling this recession sentiment. We'd be much better off without this media onslaught.
  83. Vernon BC from Canada writes: As a small MFG we need as much help as the big boys.. we will get it probably not ... in Vernon just a few months ago between a Glass plant and an RV plant (BIG Foot industries) shut down over 500 employees are now out of work.. collecting EI (UI in the old days) what sense does this make... how hard would it be to come up with a decent wage subsidy program to maybe keep employees at work instead of sending them home and the government having to pay them anyway.. there was a petition started may be some who agree can go sign the thing.. it's at http://www.petitiononline.com/wagehelp/petition.html To: Goverment of Canada - PM Steven Harper We, as the heart of Canadian business and the working people request that the Government of Canada immediately review the current EI benefits and related work share, wage subsidy and other Service Canada programs and create new and more effective "Wage Subsidy" programs which will keep people at work or allow those who have been laid off to return to work. Simply put it makes no sense to have companies laying off hard working and dedicated people who then must draw EI benefits to survive when the same funding could also be used towards effective "Wage Subsidy" programs keeping many of these same people at work and fully employed at no additional cost to the tax payer. Using Government funding to pay people to stay at home who want to work is a gross waste of tax payer dollars and our countries human resources! Well designed and implemented "Wage Subsidy" programs will help Canadian companies remain competitive, save costs on retraining and give people secure employment with full wages. Those same companies and working people will then have the confidence to invest and spend stimulating the economy which will help lead our country into a recovery
  84. Mark S Noel from Canada writes: Can't speak for the mismanaged provinces of Quebec or Ontario (Liberal Governments for you) but the future sure looks bright out West. I will be working on a proposal to add 4 new positions in my department.
  85. Capt. Virgil Hilts from Canada writes: I work in a Toyota assembly plant and we're going to a three or four day work week in Feb. We've also already laid off 20% of the workforce over the last year.
  86. tom johnson from Mississauga, Canada writes: Of course these are hard times for many people...HARPER HAS BEEN PM FOR ABOUT TWO YEARS NOW, WHAT DO YOU EXPECT???

    DUMP HARPER...GET RID OF THE CRAP PARTY.
  87. Dick Garneau from Canada writes: Canadians say they are financially worse off today than they were six months ago yet they are strong on buying big ticket items, like fridge, stove, washer, dryer, TV and automobiles at zero down. This is a paradox or the questions asked were miss leading?

    The unemployment rate is lower than the 1981/1991 economic down turn. So fear of job loss can't be the real issue.

    Personal Wealth is usually erroneously based on home values, but here again our home values are out preforming the Americans.

    So that only leaves perception which is governed by greed, optimism, pessimism and fear.
    .
  88. Mark Paskevich from Vernon, Canada writes: No matter what you feel about the economy, you can't possibly feel good about using tax payer dollars to pay people to stay home who want to work! Use these same dollars to keep people at work through effective wage subsidy programs! Sign up on the petition that asks our Government for wiser use of our tax dollars and to keep hard working Canadians at work, helping stimulate the economy leading our country to the quickest recovery possible. Go to;

    http://www.petitiononline.com/wagehelp/petition.html To: Goverment of Canada - PM Steven Harper

    This is not a handout, its wiser use of EI funds in a more sensible way!
  89. Sil T from Mississauga, Canada writes: I'd be more interested to see a survey that tells us whether Canadians think they are worse off economically than they were 15 years ago. That would do more to tell us what they think of the consequences of the globalization era that was going to make everybody's life just ducky. The high-level executives did well from free trade with countries with no labor standards to speak of... the rest of us, not so much.

    A survey asking them whether they're better off financially than 6 months ago is a bit like asking someone whether they can see better after having poked them in the eye with a sharp stick.
  90. charles ANTHONY from Canada writes: No bailouts here! Just cronies on the right and left who can break laws and be forgiven even though it's involves billions. True crime and no justice for Canadian taxpayers.Our gatekeepers are filling their pockets and we the masses get the "it's a depression fear mongering so that they can slip criminal activity right under our noses.This is wrong and must be stopped.
  91. Rudy Krueger from Canada writes: It is always interesting to take stock of the comments and commenters here - who in most cases do not have any idea how easy it is to tell who knows something and who does not.

    Those who carry the weight of a business, who care about things well enough to put skin in the game instead of stuffing their faces with popcorn and beer whist playing lawnchair coach on the sidelines.

    To all those bow-hards, let me offer one word - contempt.

    Here we have a media at large that is banging people over the head with drivel, egged on by the contemptable blow-hards, until the people find one day that they have a head-ache. Then the media puts out a headline, "People Have Headache!!!" And the blow-hards have the goddamned nerve to question whether the thing is media-enhanced.

    Vernon from BC has hit it on the head. Sir, I salute you and all like you.

    That's enough from me for now.
  92. Mark S Noel from Canada writes: tom johnson from Mississauga, Canada writes: Of course these are hard times for many people...HARPER HAS BEEN PM FOR ABOUT TWO YEARS NOW, WHAT DO YOU EXPECT???

    I think the problem has more to do with the corrupt and incompetant Liberal governments in Quebec and Ontario then Mr Harper. That is of course unless you believe you are "entitled to your entitlements".
  93. common sense from Canada writes: As an electrician,I can lose my job a couple times a month, or a couple times a decade.While working,I live within my means and prepare(save) for the impending layoff,it always comes.

    There is no such thing as job security.
  94. j w from s, Canada writes: Nonsense.. Every store I was in today was packed with huge line-ups. I had to wait for 4 people to be served by the same clerk, so I could purchase something at Best Buy

    Wait that doesn't sell newspapers.. You are right the sky is falling
  95. kevin o'connor from Canada writes: This financial crisis is not Harpers fault (and trust me, I'm not a Tory voter) but it is the fault of a bankrupt, de-regulation, the market is ALWAYS right, extreme right wing ideology that has had a major share of power in the USA since Reagan, and infected even the democrats (see Bill Clinton's de-regulation bill in 1999). Harper was probably on board with that nonsense but has been constrained by minority status and being in office only 2 years. However, it is his fault that he let the sub prime contagion into canada, even if in only a limited way. It is also his fault that he has shown every sign of not understanding this crisis and coming out with a zero stimulus economic statement, which was a giant advertisement of his economic illiteracy. (and don't give me this nonsense about him being an economist. He's an economic ideologue who has been a professional politician all his life). Still if he turns around, listens to sane advice and offers a massive stimulus plan in january on par with Obama's, fine, he can keep his job, he did after all just win an election and a strengthened minority. But if he can't get on board with sane economic policy and a massive stimulus, then get him out, we can't afford a blind ideologue at the helm at this moment in history, and he didn't win a majority, so a legitimate, democratic mechanism for his removal is there. It's really up to him, he's had a second chance with the vacation in parliament, it's simple, display economic competence and stay, or continue with the incompetence and lose his job.
  96. The Bubble from Canada writes: I went to walmart for the first time in two years on saturday and it was a strain. I don't understand why people enjoy doing this. On the upside however I bought a fantastic sofa bed on saturday off Craigslist. It came from an upscale condo downtown and was clean as a whistle, no tears and very comfortable. $180 bucks. so far using craigslist I've sold $195 worth of stuff so I'm even really. Best sofa I've ever had.
  97. Rudy Krueger from Canada writes: Let's not waste a lot of time on Harper. He is wired into Washington. If he does what he is told, we have a decent chance of pulling out of this thing. Canadian Nationalism is a farce. What are you going to do??? send our one tank into upstate New York to make a statement? Give me a break!

    The Liberals have been hypocritical idealogues. I will take economic prosperity and national security over some stupid idea of Canadian nationalism any day.

    Canada belongs on post cards with red-coated Mounties. This is not the 19th century for Heaven's sake. If you want to be nostalgic, listen to old Beatle LP's and leave the future to people with clear minds.
  98. Ravage I from Hilarious, Canada writes: Kevin O'connor - It's not a right wing concept that got the US in trouble. Too much government interference is the problem. If the government would not protect businesses (eg. guaranteeing loans, etc) then businesses would be less likely to loan to unqualified people. The problem has always been and will always be too much government.
  99. R. M. from Regina, Canada writes: We would ALL be alot better off if the media were so anally fixated on all the economic "news"...they create more problems than they report on I think.........I know there is no hope of them doing that but that's my holiday wish anyway!!!
  100. Two Centsworth from Canada writes: The media over the last 3 months has been a feeding frenzy of negativity. The 'are we there yet?' chorus has certainly aggravated our economy by dragging down consumer confidence.

    TAKE THE NEWS-FAST CHALLENGE!

    Get up and disconnect your cable right now. Rent videos instead of watching TV.

    Listen to music you love instead of reading the news.

    Forward your hotmail and yahoo email to a gmail or land account to avoid their 'news' items.

    Do not open snailmail from your money manager.

    Encourage everyone you know to do this - especially co-workers.

    I predict our consumer confidence will return and with it jobs and purchasing power. We may not be able to fix the banks but we can definitely control this part.
  101. Darren in TO from Canada writes: Duhhh...I predicted this the first moment during the election campaign where Layton went with his rolled up sleeves in Ontario's auto plant towns and started going on about job losses, which at the time were merly structural. Then Dion chipped in. And then Harper tried to reassure the public that in reality Canada had it better off then most countries. Then a whole "he said, she said" broke out, with the oppostion accusing Harper of being oblivious of the economy. So Dion and Layton continued, even though that was September during the same period where we had record low unemployment. The media soon joined in with qouting day-losses on the TSX as being paper losses, and having "X billion lost" in its headlines. The media soon moved on to mixing a lull in the stock exchange as being an economic slowdown.

    So of cource consumer confidence is down. Once consumer confidence is down then the recession will truly start. Thanks to everyone for their part
  102. charles ANTHONY from Canada writes: Too much government is the problem. They collect taxes like a fascist state and spend as if were their money. Hypocrites,liars and thieves It's the taxpayers money! These bailouts and patronages are OBSCENE at a time when we are told it's grim financially[Unless you are on the inside where creaming goes unchecked.]. Are we going to turn a blind eye to everything?
  103. IT'S BCFORME from Canada writes: How tragic that the "health" of our economy is directly linked to how much we consume. Leading economists and Earth scientists predict we will need six planets to maintain current levels of consumption. Unfortunately, we have only one planet to call home. Time to do a bit of thinking.
  104. david t from Canada writes: " w from s, Canada writes: Nonsense.. Every store I was in today was packed with huge line-ups. I had to wait for 4 people to be served by the same clerk, so I could purchase something at Best Buy"

    Wow you are a liar. The one great thing about this recession is christmas shopping as NO ONE is SHOPING as much as they did last year. I went in and out of stores with such ease that I welcome this recession and I hope it gets worse. Now I don't have to fight with those broke people who are spending credit card money they can never repay. Now all those creditcard spenders are maxed out and not shopping anymore. Viva the recession.
  105. D JL from Canada writes: Even I have reduced my spending. And I feel that I have a secure job. And am very confident that I will not face a cut back....BUT I don't trust where my RRSP is going to be at 3-4 yrs from now. I have now idea where my home value will end up. I still have some house debt, and I'm not sure where my next renewal interast rate will end up. So am I being cautious, YES I am. The big ticket items may appear to be on sale, but are they. The lowest priced ones are last years(2007) models. This years models are reduced by 200-500 each. Not much savings as far as I am concerned.

    Give me a tax break, I'll save more. Maybe start investing soon.
    Reduce GST. I didn't even notice the last cut. So what is the point.

    Good luck all.
  106. Hank Moody from Canada writes:
    I'm being very careful about what I spend my money on this year. Partially it's due to the current economic situation, mostly due to the fact I'm just tired of seeing big price tags on cheap made in China junk. Clothes that are crazy expensive, made in some third world country... I've had enough. Until stores start lowering their prices closer to what it actually costs to make the stuff, I'm buying only what I need.

    I don't feel sorry for retailers. They've been peddling crap for too long, charging too much money, encouraging people to spend, spend, spend... let 'em sweat for a change.
  107. Hank Moody from Canada writes:
    To Vernon:

    The way I see it, you have a couple of choices:

    1. Start listing Quebec as the province where your company has it's head office;

    2. Tell the government that speaking French will be mandatory at work

    You will get so much government subsidies, you won't know what to do with it all.
  108. matthew veenman from Winnipeg, Canada writes: Now is when the rich scoop up lots of luxury goods at cheap prices
  109. matthew veenman from Winnipeg, Canada writes: Marcus L from Calgary, Canada writes: I work for an energy company which makes money all the way to $16 a barrel. I received a 4% raise for 2009 and my 2008 bonus was larger than I expected. I´m currently vacationing in the Caribbean. Where do I sign up to give an opinion exact opposite to the poll results?

    Your on vacation in the Caribbean and your commenting on a Globe and Mail article? that is so lame:(
  110. kevin o'connor from Canada writes: Ravage I from Hilarious, Canada writes: Kevin O'connor - It's not a right wing concept that got the US in trouble. Too much government interference is the problem. If the government would not protect businesses (eg. guaranteeing loans, etc) then businesses would be less likely to loan to unqualified people. The problem has always been and will always be too much government.
    ----
    Gotta disagree. It was not government guaranteeing loans that was the problem, it was lack of regulation. I know the right in the USA is trying to blame it all on fanny and freddie but they were minor players in the sub prime crisis, and were casualties of the bubble, not the cause. The problem was extreme deregulation policies and then the inevitable fraud, at all levels, like so: The consumer (the buyer of the mortgage) often lied about their income, the bank did not care or was into predatory lending (misrepresenting terms, mortgages for 90 year olds etc). Why would they not care? Easy, they immediately sold those mortgages to be packaged with others as a financial 'product', so they didn't give a hoot if the person could pay, they got paid. Commission cha-ching. Next the financial guys sold these 'products' to investors, hedge funds etc as investments with high returns. Cha-ching. Those returns kept coming as long as housing prices kept going up. The ratings agencies gave these 'products' AAA ratings through incompetence or corruption. All the financials kept up this paper chase with more complicated 'products' and everybody sold to everybody else and a lot of paper wealth was made, and if you weren't in on it you were a loser and out of a job and profits. Round and round it went until the bottom fell out of the housing market, forclosures began, and everyone wanted to sell their 'products' all at once, and all that paper became worthless (or was finally recognized rightly as worthless).
    Too little government (regulation) and the fraud it allowed was the problem, not too much.
  111. matthew veenman from Winnipeg, Canada writes: twocents, you miss the point that a lot of consumer confidence was based on lots of free credit. The credit is no longer there and retailers are suffering.
    I have about 15,000$ credit left, maybe I should max out in hopes of kickstarting the economy.
  112. matthew veenman from Winnipeg, Canada writes: Kevin O'connor, I agree with you 100%, our "wealth" was based on the false notion that land prices would forever rise and borrowing against the value of your home would continue forever. What a fraud. It wasn't loans to poor people that ruined things, people that are causing the problems and have the most to lose are lower-upper-middle class families.
    I can't say I feel sorry for them
  113. Sam G from Toronto, Canada writes: Just six months ago, g&m; forums were buzzing with self-righteousness and newly found Canadian superpower feeling. Canadian buck was almighty and Canadian economy was superseding even the US economy. Or so it seemed. Once US car industry tanked, so did the so-called Cdn car industry (which is just an outlet of the US car industry). When US banks tanked, scandals revealed themselves in Cdn banks (Scotiabank, anyone?). When job market blew up... well, you get my point I hope.

    And what did Harper do? He send parliament home. Some leadership. I can already see what might happen if US capital withdraws from Canada (Canadian manufacturing industry). Dust off your fishing poles, just in case.
  114. John McMortimer-Boyles from An Undisclosed Underground Location Safe From Nuclear Attack, Canada writes: The other day, a couple of us were talking about oil prices and how last summer they peaked at $147 a barrel. Today the price of oil is under $40 a barrel--about a quarter of what it was at its peak. That is going to have an impact on the Alberta oil patch.

    The other week I was at the mall. There were a lot of people at the mall--but not in the stores. Most stores I went into had very few customers looking at merchandise, which made it easy to get sales help.

    If there is one bright spot in the gloom, the majority of workers still have jobs. And as a side note, even during the great depression, something like three out of every four people in the workforce were employed (flip side of a 25% unemployment rate).
  115. John McMortimer-Boyles from An Undisclosed Underground Location Safe From Nuclear Attack, Canada writes: Good points kevin o'connor.

    People down south of the border who shouldn't have been getting mortgages were getting mortgages.

    I remember seeing a US mortgage ad promising a $500,000 mortgage for under $1700 a month. Well, it took about a minute with an Excel financial function to figure out the bank was either charging 0% on a convention 25-year mortgage, or the mortgage had an amortization significantly longer than 25 years. That told me trouble was brewing.

    Well, eventually the chickens came home to roost, and with the risks spread around the world courtesy of securitized mortgages and credit default swaps, when the bubble burst the global house of cards came down with it.
  116. Kat Wilson from Canada writes: Seattle blogger posted a photo of a nearly empty Fred Meyers store.
    http://www.flickr.com/photos/sundry/3127513216/

    It must be really bad in the US right now.
  117. Kat Wilson from Canada writes: Punkface -- from Somewhere out there...., Canada writes: Last friday eve, the restaurants were filled with customers, the malls were full, all weekend long they were full too, and I spent more than last year.

    -------------------------

    and he concludes with the reports must be wrong. Because the mall he happened to go to was full and HE SPENT MORE than last year.

    How ever did Canadians get THIS DUMB.
  118. D JL from Canada writes: I'll buy what I want when I can afford it!

    I have not sympathy for people that can not control their spending. To those that the system can't/won't support, I'm sorry. I will attempt to support the system, but I can't help individuals.
  119. M B from Calgary, Canada writes: Our extreme cold temperatures, continuous quantities of snow and slippery roads could have something to do with it. Much easier to order most stuff online or give out gift cards. Also, more fashionable to cut back and show restraint, especially if others are suffering job losses etc. Furthermore, Canada Post SO terribly expensive now to ship gifts, let alone a standard card a few grams over their 30 gram first class limit. (USA has 50 gram limit and their rate to Canada is 63 cents vs. $ 1.92 we have to pay for 34 gram card). Finally, Provident Living is now the theme. Time to smell the roses and practice what Christmas is really about - helping those who are less fortunate and giving more quality and personal time to others.
  120. Sil T from Mississauga, Canada writes: Stores shmores. There are great deals on public assets at bargain basement prices coming up, now's a great time for bargains to be had. Anyone wanna good deal on a QEW? Price isn't important, the seller just needs cash to cover his fiscal tracks.
  121. Carl Hansen from Canada writes: I can't spend any money right now becauase the fricking govt is spending it for me.
  122. truth betold from Canada writes: I'm amazed some posters are able to drive to work, what with vision that doesn't extend past the end of their noses.

    If you're still working and getting a raise that, in real terms, amounts to -6%, and you can read about the global slowdown (news alert: Canada still part of Earth) and you STILL see sunshine and roses, I would be happy to get a referral to your optometrist. I would like to have eyesight that turns donkeys into thoroughbreds, water into wine, and manure into flowers

    To the people who blame the media for causing a slowdown, when in fact they're just reporting it (way, way, way late, I might add): I have particular contempt for your lack of discernment. I hope you don't cast a ballot. It cancels out the smart people's votes.

    And to Marcus L, if you're commenting from your Caribbean vacation, I'm typing this in my penthouse suite bedroom with my supermodel girlfriend, who drove here in the Ferarri I bought her.
  123. Kat Wilson from Canada writes: M B from Calgary, Canada writes: Our extreme cold temperatures, continuous quantities of snow and slippery roads could have something to do with it.

    -----------------------------------------

    Because these are new conditions in Canada in the weeks preceding Christmas. I repeat my question. How did Canadians ever get THIS DUMB.
  124. Steve I'm Not an Alberta Redneck from Canada writes: I really doubt that most people are really worse off than they were 6 months ago. This is just negative thinking.

    What they should really be questioning is whether they are better off than they were 25 years ago. More than 2 and a half decades of Reagan/Bush incompetence, formulating policies that transferred wealth from most of us to a tiny elite of the already wealthy and the complete lack of policies favouring real investment have left most people in a very precarious position.

    Any gains that families have made during that time is due to the increase in the amount worked. The period where an increase in 2 income families could cover up the general malaise was rapidly coming to an end. I was wondering when the Republicans would start to promote child labour to keep things going. Given the abysmal state of education in the US, this might have not raised much resistance.
  125. Ravage I from ah Kat Wilson, Canada writes: Kat Wilson from Canada writes: Because these are new conditions in Canada in the weeks preceding Christmas. I repeat my question. How did Canadians ever get THIS DUMB.
    =====================================
    Actually the weather the past week HAS been abnormal and the news stories have repeated this. Here is just one example. If you google weather Canada then you will find many more.
    "An Arctic high-pressure system has dominated British Columbia for the past few days and has brought the coldest temperatures in Vancouver since 1990, said Greg Pearce, a meteorologist with Environment Canada."

    But yes, M B must be dumb. Maybe you should get out more. LOL.
  126. John __ from Westy, Canada writes: In reality probably 20% of stuff people buy they don't need and 30% of stuff people like but can do without.

    Maybe we are just at more realistic consumption levels now... of course the companies want ever growing sales and profits.
  127. Ravage I from ah Kat Wilson, Canada writes: Another quote for you Kat. Next time be a little nicer to people instead of being such a "kat" all of the time. M B from Calgary was accurate in his depiction of the weather in Canada this year.

    From http://lfpress.ca/newsstand/News/CanadaWorld/2008/12/22/7825551.html
    "Forecasters are predicting Christmas will look much the same, with Canada on track to have its first coast-to-coast white Christmas since 1971."
  128. Kat Wilson from Canada writes: Steve I'm Not an Alberta Redneck from Canada writes: I really doubt that most people are really worse off than they were 6 months ago. This is just negative thinking.

    --------------------------------

    Unbelievable! You wouldn't be a Florida swamp or used car salesman would you Steve?

    Here's the thing. It is NOT negative thinking to be concerned if your company is laying people off or about to lay people off or the industry in which you are situated is laying people off. Layoffs are happening and many people are affected. There's been an abrupt turn around in the employment and unemployment insurance claims stats. To be conservative about your spending during a downturn isn't negative thinking, it's practical self-preservationist thinking, and anyone who would encourage you to spend when you are uncertain about whether or not you will get another pay cheque or have stable ongoing employment is not working in your best interest.

    P.S. Contrary to your hapless brain's machinations, the media did not invent the collapse of finance. It really happened. Also, the earth is round, homeboy.
  129. Kat Wilson from Canada writes: Ravage I writes: Actually the weather the past week HAS been abnormal and the news stories have repeated this. Here is just one example. If you google weather Canada then you will find many more.
    "An Arctic high-pressure system has dominated British Columbia for the past few days and has brought the coldest temperatures in Vancouver since 1990, said Greg Pearce, a meteorologist with Environment Canada."'

    ------------

    I live in Vancouver where almost two thirds of all BC consumers reside and, with the exception of the past day, most people here can get to to the malls or walk to nearby shops. Transit is running and yes, we have plows. And many people here drive four-wheel SUVs (they can't afford). I am not buying the weather is to blame argument.
  130. Kat Wilson from Canada writes: I should have added, but will add now, that BC does not represent even one iota of Canadian consumers. I grew up in Ottawa and lived for a time in Toronto where the present Vancouver conditions - about which Vancouverites whimper - would have been a running joke and a veritable picnic. Canadians have been shopping in sub-zero temperatures and snowdrifts up to their eyeballs forever. The only reason the weather is news is because the cold and snow is coast-to-coast. Most Canucks are used to such conditions.
  131. David Bakody from Dartmouth, Canada writes: From the lips of Steve Harper.....Hypocrite extraordinaire..... and of course trumpeted by Conservative TV (CTV) and in particular Mike Duffy.... soon to be Senator of the Inside Scoop to the PM Duff.... In any rate will CTV dare tell the truth for the year end review with starting with these lines:

    Oct. 7: “I think there are probably some great buying opportunities emerging in the stock market as a consequence of all this panic.”

    Asked whether he would unequivocally rule out a deficit under his government: “Yes. … Yesterday I think I was asked one question about whether we would run a deficit and I said, ‘No.’ That’s my answer.”

    Oct. 11: “The fact of the matter is independent analysts, including the International Monetary Fund, say that Canada is not going to go into recession with the current world environment and its current set of domestic policies. We’re the one country that’s going to continue to show some growth.”
  132. Vernon BC from Canada writes: The BOC should go into competition with the big banks... and start lending money to small business .. it seems the banks are hording money .. or do not want to drop their interest rates .. and yet they are squeezing the little guys .. saying we have to raise your interest rate on your operating line of credit because money is costing us more to get ??? Hmmmm but yet they find money Millions and Million for bonuses for their top CEO's ..
  133. Roop Misir from Canada writes: Canada's economy may be in much better shape that some other countries. In Great Britain, for example, recently released official data suggested that economy shrank faster between July and September than had previously been thought.

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