Has Mark Carney, Governor of the Bank of Canada, stuck his neck out? The Canadian newspapers are a buzz this morning over the Bank of Canada’s announcement stating the “recession is over”. Were we in a recession? Sure sales are down, manufacturing industry is feeling the pinch and the oil patch is skirting low commodity prices. I don’t believe Canada or the world was in a recession, I just elect not to fall into the trap many of us have fallen into. I like how the Microsoft executives worded today’s economic challenges as an ”economic reset”.
My question to Mark Carney is this, how does he know the recession is over? Maybe if we look at it this way like a computer system starting up after the it freezes or locks up. Sometimes the only way to get it going again is to physically turn it over and start it up again. This is what I think has happened in the economy, last fall and into the spring the world turned off the economic computer.
When Mark Carney of the Bank of Canada states the recession is over, it maybe the POST is done, industry has heard the beep when you start a computer and now is ready to get going again. Will things ever be the same, I sure hope not. I don’t know if I can go through any lifestyle like we had prior to the reset. It may just kill me personally.
The past 8 or 9 months have been very interesting. We literally had the frozen computer scenario happen here in Canada and I am sure throughout the world. August 2008 was a great and busy month and then September was one of the worst months as bank, trading house and conventional businesses began to slow down and shut down.
What have I learned so far through this economic reset? Greed kills, continue to serve those around you and ensure you keep a nest egg just in case you need it. On the topic of greed. Unions, stock brokers, mortgage agents and banks just to name a few were caught up in greed and were not really serving their clients, customers and those in the community at all. Service is where we will win in the market.
What do you think? Do you think we are out of this recession? Are you seeing growth coming back to your business?
I don’t recommend asking for what you can have, or even for what you can give, nearly as much as I recommend asking for what else you can know.
Because there is always more you can know, and knowing it will radically increase all you can have and give.
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