A soft landing? Not bloody likely. If you insist on engineering a recession, don’t think that the carnage will magically stop with the withdrawal of help wanted ads. It’s not just “virtual” jobs that will disappear, but real ones as well: the real jobs of real homeowners who will no longer be able to make their real mortgage payments on a real house.
For Macklem’s part, he suggested skeptics might be discounting the unusually high number of unfilled positions. He doesn’t deny that there will be demand destruction from higher interest rates, but he thinks companies could respond by taking down job postings rather than throwing people out of work. In other words, a soft landing is possible because any nosedive will be aimed straight at a cushion of aspirational hiring, not existing employment.
I would vote for the permanent unemployment of Macklem, the pompous a##. He aided and abetted the Liberals and the NDP printing and spending more money than the country had actually needed to fight the plandemic. To jail with him for fraud.
Yes, because social engineering of the economy always goes as planned. Especially by Liberal “experts”.
Yup, they did a great job from 80-84. Crushed inflation. Oh, and the economy as well.
Speaking of experts
Deadly outbreak of children’s hepatitis linked to lockdown
https://www.telegraph.co.uk/news/2022/04/25/hepatitis-surge-leaves-one-child-dead-17-needing-liver-transplants/
That is not the lockdown, that is the VAX
Yup, they did a great job from 80-84. Crushed inflation. Oh, and the economy as well.
Not to mention destroying careers.
Mine was severely damaged when, after getting fired from my job nearly 4 decades ago, I went through several years of one year on, one year off. Things started settling down when I started teaching at Armpit College near the end of the decade, but that wasn’t what I had in mind when I started grad studies in the late 1970s. I only took the position because I needed a paycheque.
It took several years for me to financially recover from what happened. I have 2 prime ministers and the premiers of 2 provinces to thank for that.
It was a terrible time to be in any engineering discipline in BC or AB at that time BADR. Seems our work history is very similar through early to late 80s.
I was in FSJ for 3 stints between 83 and 87. It was a paycheque, but mind numbing work, in my chosen discipline, however it was an adventure for a young guy too. Still, career wise, it was a dead end, and so was FSJ.
It was so bad, that another part-time employer, instead of articling me, kept me clinging to menial duties, and when questioned, suggested I move to Ontario for work. Needless to say, there was no way I worked for that clown anymore.
I was in Saskatchewan during the early part of the 1980s. Blakeney was premier when I moved there and Devine was in charge when I left 2 years later. In between time, Lougheed handed over Alberta to that twit Getty.
By the way, Fort St. John had it rough during that time period. My father was on work-sharing for several months because the oil industry nearly ground to a halt. It didn’t help that the company he worked for was run by a bozo similar to Dear Leader. The guy inherited the firm from his mother (who took over after the founder, her husband, had died) and he let his subordinates run it.
It came as no surprise to me when, in the mid-’80s, my father called me in southern Alberta to say that the outfit had gone into receivership. The first thing the receivers did was to take away the credit cards and car keys from the managers, who treated the place like their private piggy bank. About a year later, it was taken over by a multi-national company and my father remained there for the rest of his career, retiring about 20 years after all that happened.
During my “on and off” period, I worked for a number of “high tech” firms. Believe me, that business is nothing like what’s portrayed by the popular media and I’ve got lots of stories to tell about that.
Liberals have always been a disaster for Canada
Wally, Liberals are, and have always been, a disaster! FIFY>
They have different names in different countries, Liberals, Democrats, Labour party etc, but always, the MO, is the same!
If the only way of avoiding a recession is to count on “Liberal expertise” … we’re headed for a major shitstorm.
Their history is there for everyone to see.
These morons are playing Keynesian games with a Smith Friedman issue. The rates were artificially low because of the central bank bond buying negating the ability of the market to set real rates. These donkeys don’t even understand the problem, or if they do they won’t address it. Reduce the money supply, qualitative tightening. Interest rates, other than the overnight bank rate, are a function of bond auctions, real ones, with real buyers.
So, what?
Take down the help wanted signs and pretend we don’t have a high unemployment rate?
Then deny workers a chance to get a job and buy a house?
Then fiddle with interest rates and other such algorithms?
Is this the mandate letter for middle class prosperity, or rather middle class depravity?
I am sure that I am too naive to understand the global machinations that are percolating in Maclem’s shiny, hipster glasses wearing head. So I will just trust the expert class.
Honk.
And deny workers EI if they are unvaccinated?
Government Wastes , Destroys and Lies.
So all this lying about “Temporary Inflation” The “Booming” Job Market will serve them well,until their Presstitutes get laid off…
Clearing the way for real reporters to catch the publics attention.
Faster Harder.
Western Canada needs to kick Dear Jason so hard he bounces back to Ottawa and hang the parasites from every lamp post available..
Demand for resources is up,productivity in Canada is down..So far down that perhaps the citizens have recognized there is no point being productive,if what wealth we generate is just to be taken and pissed away on Gang Green Idiocy and Liberal theft..
Who woulda thunk?
We should be the richest people in the world.Instead?
“We are Canadian” .
Trudopian Stupid.
JR, “Trudeaupian Stupidity”…..I’m stealing that, it perfectly describes out collective plight.
Gentlemen, tighten your jockstraps! Ladies, fasten your bra straps! Keep the children in doors! We’re in for some turbulence.
” . . . a soft landing is possible because any nosedive will be aimed straight at a cushion of aspirational hiring, not existing employment.”
Yeah, right. You have seven too many janitors and need more machine operators. Just move them around. They’re all interchangable.
Nothing makes it more clear that the “non-elite” – me – are simply drones to them. Morlocks. Parts.
People cannot have the following: cars, property, guns, even their children.
It sounds like communism to me.
Central banks don’t control interest rates. They control their own overnight lending rate, one source of overnight funds among many. Central banks do exert some influence on reserves, but they must be immense additions or subtractions. We have seen immense additions to reserves in Canada, flooding markets with money and driving down interest rates. But interest rates are dictated externally. If investors and savers do not get the returns sought here, they buy the currencies of countries that do. Expect the Canadian dollar to decline, sending up prices for all imported goods and further adding to inflation, if savers and investors are not sufficiently rewarded.