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RE: Off Topic: Economic Recovery[Subject Prev][Subject Next][Thread Prev][Thread Next]
- To: <seaint(--nospam--at)seaint.org>
- Subject: RE: Off Topic: Economic Recovery
- From: "Acharya, Suresh" <Suresh.Acharya(--nospam--at)ci.concord.ca.us>
- Date: Thu, 6 Aug 2009 10:43:25 -0700
Difference between Canadian economy and US economy is Canadian economy is export-based (oil, minerals, manufacturing....), while US economy is consumption-based. Given the 10+% unemployment, it does not seem consumption will increase anytime soon (except at Dollar Stores) regardless of how Wall Street is faring.
From: David L. Fisher [mailto:dfisher(--nospam--at)fpse.com]
Sent: Thursday, August 06, 2009 9:55 AM
Subject: RE: Off Topic: Economic Recovery
I have entered in a JV with a Canadian engineering firm and they are very busy.
Correct also, on the banking end of things up there…we’ve got some exciting
Project financing secured by your very stable banking system.
I do fear, however, that things in the US will get far worse, before they get better.
David L. Fisher SE PE
Fisher and Partners
372 West Ontario
I am writing this in the hopes that it will provide some encouragement to those of you who are hurting.
In the past couple of weeks or so there have been announcements indicating that the recession in Canada was over as well as other indicating that it was not necessarily so; that there was still some bad news to come. This is significant improvement from three months ago when everyone was spouting nothing but doom and gloom.
Our banking system, which is more conservative than yours and more regulated, did not suffer a single failure. In fact, I don't personally know of any bank that even cut dividends. In fact, stogy old Bank of Montreal announced in March that it had been paying dividends since 1829 and it was NOT going to stop now!
One of my colleagues, who operates an structural engineering business (staff of 17 a couple of years ago, 23 today) is now interviewing potential new hires. This is great news because it is generally known that engineering and architectural activities now usually lead to construction activities a few months down the road.
I hope at least some of you consider this good news.
H. Daryl Richardson
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