Canada's Economic Goals Are: Political Stability, Reducing Essay

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Canada's economic goals are: political stability, reducing national debt, economic growth, increased productivity and efficiency, equitable distribution of income, price stability, and full employment.

IMF slashes Canada's economic prospects. (Sept., 21, 2011). CTV News. http://www.ctv.ca/CTVNews/TopStories/20110920/canada-economic-outlook-imf-110920/

One of the Canadian economic goals is to achieve full employment, but the International Monetary Fund just revised its former predictions, assessing the Canadian employment rate as dropping rather than picking up and the nation's economy growing slower than anticipated. In fact, the forecast seems to worsen the coming year with the economic forecast assessed as 2.1% his year and only 1.9 per cent the coming year. Moreover, both Statistics Canada, and the IMF predicted that unemployment would only increase with the IMF pronouncing that Canada's unemployment rate will climb to about 7.6% this year and to about 7.7% in 2012. Gloomier economic forecasts, it seems, are generic to other euro-USA nations too.

Analysis of this article, however, tells me that the IMF has revised its statement several times during the past year. Economic fluctuations seem to be uncertain, and as Drummond, former chief economist at notes the truth may lie somewhere in the middle. After all, as Industry Minister Christian Paradis pointed out, the government is strenuously working on both economic growth and job creation with its Economic Action Plan and has created 600,000 net jobs since July 2009. The implied cause-effect prediction is that with current conservative government continuing their economic resolutions, unemployment will continue to plummet.

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Questions: 1. What is the political allegiance of the source CTV.ca. 2. Are they democratic therefore badmouthing the ruling conservative party by disseminating pessimistic economic predictions?

2. Tomesco, F. Canada's dollar drops for third day on slower economic outlook. Bloomberg Business Week.

http://www.businessweek.com/news/2011-09/Canada-s-dollar-drops-for-third-day

Today (September, 21st) saw Canada's dollar fall for a third day straight as the slowing economy and pessimistic economic predictions discouraged investors for investing in Canadian higher-yield assets. The Canadian currency depreciated 0.4% to 99.63 cents per U.S. dollar. Consequently, decreased fuel demand in the U.S. brought down futures on crude oil -- Canada's most prominent asset -- from 0.8% to $86.24 a barrel. Meanwhile, the Euro Stoxx 600 Index declined 1%.

To add to the discouraging news, Statistics Canada observed that inflation has risen from 3.1% in August a year earlier to 2.7% the previous month and Bank of Canada's Governor Mark Carnay observed that borrowing costs might stay low even when economic progress will be assured. The weak U.S. And European economy are further impeding the recession. In short, authors of this article Cox and Liedtkas note that Canada's economy, the world's 10 largest, has shrunk still further to a 0.4% annualized pace in the second quarter.

Although pessimistic, I am struck by the contrast to another article that I came across in passing where the Bank of Canada's Governor Mark Carnay who, just yesterday, was more optimistic stating that….....

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