Sunshine and crowds belie the dire economic news

with 2 Comments

EATON CENTRE, TORONTO — It’s easy to be positive when you’re on holiday. But the 30C temperatures and happy crowds on Canadian streets don’t belong to recessionary times.
The economy in this country seems to have defied the greatest evils of the last three years — banks have never been allowed to wager with others money. But still it seems that the mood is far from the funk that engulfed us all in 2008-9.
Today’s papers say that the US and European ills are set to drag down the Canadian economy too. No one is that independent these days.
However I keep repeating the line that my Swiss banker friend told me last week:
“This always happens in August. The bosses go away and leave the kids minding the trading desks. And then they come back from their holidays and they’re like: ‘WHAT have you been DOING!?’ ”
I am sure the story doesn’t hold up, but it’s good from a few more days of happy sun in my world.
/df



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2 Responses

  1. Deborah Hinton
    |

    Hi David. Hope your Canadian trip has been a good one. I think your Swiss friend may be more right then wrong. I thought that an American President once said – What is it about August? – after having to come back from another vacation due to a crisis. Found instead this article on the paradox of August that you and your followers might find interesting – http://bit.ly/nzaS03.

  2. David Ferrabee
    |

    Great article, Deb. Might take me a few attempts to get to the end. But interesting.
    I was out at a fancy discount mall in Oxfordshire today where the parking lots were full at 10 am. No obvious recession there. With so many people expecting bad times, good news can only be a pleasant surprise now.
    Here’s hoping.
    /df

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