Canadian PM: Depression Possible


The following was in the news today:

Depression possible: Canadian PM

AFP – Dec 16, 2008

Prime Minister Stephen Harper delivered a grim forecast for the Canadian economy, saying in an interview with broadcaster CTV a depression is possible. “The truth is, I’ve never seen such uncertainty in terms of looking forward to the future,” Harper told CTV. “I’m very worried about the Canadian economy.”

Asked whether a depression was possible, he answered: “It could be, but I think we’ve learned enough about depression; we’ve learned enough from the 1930s to avoid some of the mistakes that caused a recession in 1929 to become a depression in the 1930s.”

A depression is often described as a prolonged economic slump in which output drops more than 10 percent.

Unemployment in Canada hit 27 percent at the peak of the Great Depression in 1933 and between 1929 and 1933 Canada’s gross national product fell 43 percent.

In the interview, Harper also said his finance minister’s budget on January 27 would include billions of dollars in stimulus spending, ending more than a decade of back-to-back balanced budgets in Canada.

Obviously, we’re going to have to run a deficit,” Harper said. “We’re talking about spending billions of dollars that was not planned.”

So, Canada (like the USA and UK) intends to increase its debt.

And Canada (like the USA and UK) will eventually have a huge price to pay.

Several articles of possibly related interest may include:

Anglo – America in Prophecy & the Lost Tribes of Israel Are the Americans, Canadians, British, Scottish, Welsh, Australians, Anglo-Southern Africans, and New Zealanders descendants of Joseph? Where are the lost ten-tribes of Israel? Who are the lost tribes of Israel? Will God punish the U.S.A., Canada, United Kingdom, and other Anglo nations? Why might God allow them to be punished first?
Who is the King of the North? Is there one? Do biblical and Roman Catholic prophecies point to the same leader? Should he be followed? Who will be the King of the North discussed in Daniel 11? Is a nuclear attack prophesied to happen to the English-speaking peoples of the United States, Great Britain, Canada, Australia, and New Zealand? When do the 1335 days, 1290 days, and 1260 days (the time, times, and half a time) of Daniel 12 begin? When does the Bible show that economic collapse will affect the United States?
End of Mayan Calendar 2012–Might 2012 Mean Something? There is a Mayan calendar prediction for change in 2012. 2012 changes were also centuries ago predicted by the Hopi Native Americans (the Hindus may have some predictions for the next decade as well). Do these Mayan/Hindu/Hopi prophecies have any value? Why might Satan have inspired this date? Does the Dresden codex show destruction of the earth by flood? Can the great tribulation start before 2012?
Does God Have a 6,000 Year Plan? What Year Does the 6,000 Years End? Was a 6000 year time allowed for humans to rule followed by a literal thousand year reign of Christ on Earth taught by the early Christians? When does the six thousand years of human rule end?
Europa, the Beast, and Revelation Where did Europe get its name? What might Europe have to do with the Book of Revelation? What about “the Beast”? What is ahead for Europe?

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