Thursday, May 26, 2011

Economic Update.

Click Here To Watch The Video
The original economic forecast from Craig Alexander at TD Bank that I blogged about generated a bit of interest, so I thought when I saw him give an update on BNN that I would include it here. 

He says it is not a question whether Greece will default, but a question of when, and that sovereign debt is the number one issue for the global economic outlook, at the moment.  Second would be the political unrest in the middle east, if oil prices get too high.

In Canada, he sees a major correction in oil prices as being bad for Canada's economy.  Another potential issue would be reduced commodity demand from China.  Currently he sees the Canadian GDP slowing to 2 to 2 and one half percent in the second half of 2011.

Personally, I still think the U.S. has a long way to go before they will see any real, lasting, economic growth.  As long as that is the case, I think our economy will suffer since we are so closely tied to them.  The government stimulus has been very good for the stock markets, but it remains a major question as to how long they might be willing to throw good money after bad.

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