{"id":308529,"date":"2010-02-11T09:39:13","date_gmt":"2010-02-11T14:39:13","guid":{"rendered":"tag:http:\/\/www.economist.com,2009:21004791"},"modified":"2010-02-11T09:39:13","modified_gmt":"2010-02-11T14:39:13","slug":"worthwhile-canadian-question","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/308529","title":{"rendered":"Worthwhile Canadian question"},"content":{"rendered":"<p>STEPHEN GORDON <a href=\"http:\/\/worthwhile.typepad.com\/worthwhile_canadian_initi\/2010\/02\/longterm-unemployment-in-canada-and-the-us.html\">posts<\/a> a fascinating chart:<\/p>\n<table border=\"0\">\n<tbody>\n<tr>\n<td><img loading=\"lazy\" decoding=\"async\" class=\"mceItem\" src=\"http:\/\/www.economist.com\/sites\/default\/files\/images\/blogs\/2010w06\/canada_0.jpg\" alt=\"\" width=\"550\" height=\"226\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Mr Gordon quotes from a September post of his, in which he said:<\/p>\n<blockquote>\n<p>The more I look at the US, the more I see unpleasant parallels to Canada&#8217;s experience of the 1990&#8217;s &#8211; what Pierre Fortin called <a href=\"http:\/\/www.jstor.org\/pss\/136214\" >The Great Canadian Slump<\/a>. Even after we emerged from the worst of the 1990-91 recession, we still had to deal with a large current account deficit, out-of-control government deficits and significant NAFTA-induced sectoral shifts. The outlook for the US is depressingly similar, although their sectoral shifts are associated with re-allocating resources away from construction and finance.<\/p>\n<\/blockquote>\n<p>Others might credit the stability of Canadian banks for the difference, in what has ultimately been a finance-driven boom and bust. And still others might note that Canada looks a lot like an amalgam of parts of America that have done relatively well during this recession: the Great Plains south to Texas and the Northeast corridor. I&#8217;d be interested in seeing a comparison of household debt levels in Canada and America. But the contrast here seems likely to me to be instructive.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>STEPHEN GORDON posts a fascinating chart: Mr Gordon quotes from a September post of his, in which he said: The more I look at the US, the more I see unpleasant parallels to Canada&#8217;s experience of the 1990&#8217;s &#8211; what Pierre Fortin called The Great Canadian Slump. Even after we emerged from the worst of [&hellip;]<\/p>\n","protected":false},"author":4534,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-308529","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/308529","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/4534"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=308529"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/308529\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=308529"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=308529"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=308529"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}