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52 Comments
- kplo, on 04/01/2009, -0/+22Econaclypse? I can see that catching on...
- nbcaffeine, on 11/21/2008, -0/+7Too bad English is incapable of expressing thoughts with the words we already have
- divinediva, on 11/21/2008, -0/+6A new model of computer is energizing the world of consumer technology.
- Rothbardosaurus, on 11/21/2008, -0/+5It's spelled "Econocalypse." Get it right, sheesh.
- lovemorgul, on 11/21/2008, -0/+5I think it's obvious to everybody that we're in for a serious recession.
- dermarr5, on 11/21/2008, -0/+5Saying "Innovation" is going to save us is like saying that we need change. I mean of course creating new products and improving old ones is going to benefit the economy, how is that insightful? He might as well be saying good companies will survive; Oh thanks man that really needed to be said. That being said he does have a pretty astute view of the economy and how business works.
- tawnos, on 11/21/2008, -0/+4Did the bible speak of this Econaclypse?
- inactive, on 11/21/2008, -1/+5Instead of bailing out bankers why not drastically lower tuition so working people can retrain and so graduates aren't saddled with debt? More people learning means more innovation coming down the pipe.
WW3 is fought with checkbooks and textbooks. - oldhick, on 11/21/2008, -0/+4I think tech innovation is great, but where is the funding going to come from?
So after Christmas, the retail industry is going to completely collapse when the numbers come in. I'm talking serious, collapse. I'm betting quite a few companies go bankrupt. I'll bet you you'll see entire shopping centers collapse in 2009 with nothing but vacant spaces... Early next year commercial real-estate is going to completely collapse. Commercial real-estate loans make up nearly 4 trillion dollars. That will bring on disaster for our economy.
Face it people. This isn't going to be a recession. This isn't going to be a bad recession. This is going to be a global depression that far exceeds anything we've seen before. But that's just my two cents. - CarStan, on 11/21/2008, -2/+5Innovation? You mean like solar power, genetically optimized bacteria than can produce drugs ten times faster, hybrid cars?
Why does it always need a big catastrophe for the economy to accept new and superior technology - MindTrigger, on 11/21/2008, -0/+3Yes, but who's going to pay for the innovation?
- shawns, on 11/21/2008, -0/+3More people need to head this advice. U.S. can come out even stronger if more people really attack this recession with innovation
- J16T3CH, on 11/21/2008, -0/+3He forgot about his namesake - Mossberg, gotta get me one!
- petebot, on 11/21/2008, -0/+3Innovation, you say? Well, we’ll get right on that.
- Knowltey, on 11/21/2008, -0/+3Somebody will probably find a verse that fits it to a tee.
- MindTrigger, on 11/21/2008, -0/+3Best made up word in years.. and appropriately foreboding. The end is nigh!
- Rapter09, on 11/21/2008, -0/+2Econaclypse?
Wow. Brandon Small will be impressed. Somebody managed to come up with something about as hard to pronounce as Metalocalypse. - charlietuna, on 11/21/2008, -0/+2Walt, you are a shill who cannot see past your own bailiwick. If the economy really collapses, the only people who will do well are the people who can grow their own food and dress their own wounds.
- strictnein, on 11/21/2008, -1/+3This is stupid
- MrKite, on 11/21/2008, -0/+2The problem is that innovation only happens when you're not employed, or if you've started your own company and you're not currently making any money. Try to convince your boss to let you do something innovative. :)
- chrissku, on 11/21/2008, -1/+3I'd say we're in a recession of proportions we have not seen in our lifetime. Housing prices are down 30% year to date, banks are not lending, people are losing jobs, and businesses are starting to collapse. Folks we may be in for a bumpy ride.
- temujin2012, on 11/21/2008, -0/+2That's sending me into a Depression.
- toekneebullard, on 11/21/2008, -0/+2Of course! This is why recession (or a least valleys) are part of the economic cycle! When we're always on a high, we don't TRY, we just create and consume the same thing over and over. (See the Big3 automakers). Its the hard times, the recessions and the valleys, that breed innovation and creativity. Limitations force people to come up with new ideas. This is why propping up businesses to avoid valleys is such a bad idea!
- HonoredMule, on 11/21/2008, -0/+2Well at least that sounds a little more accurate and less like myopic doomsaying. Yes, the U.S.'s recession will affect the global market and everyone will be hit. But you're pretty full of yourself if you think the entire world is so dependent on the U.S. economy that we'll all spiral into oblivion with you. Canada will have to sell more of our beef, potatoes, and lumber overseas, which will probably become cheaper locally and more expensive as an export. To be honest, I am guessing here, because I'm no finance expert. But I'd be surprised to see an increase in business bankruptcy, let alone a spike in poverty or increase in class disparity.
At the end of the day, you're still just one of many sources of natural resources, innovation and technology, and production. The world is not UTTERLY dependent upon you. So more rationally speaking, I'm not terribly worried about Canada yet because none of the evidence I've seen is solid indication that the U.S. economy will truly tank that badly, let alone impact my nation that heavily.
Besides, like the article says, innovation IS the key to success, and both I and my employer happen to be well-positioned in that regard as well. Beyond that, I don't play the market, nor do I live a very commercialized lifestyle, so my concerns revolve around cost of basic goods and services, which in Canada has rock-solid stability and will probably stay that way through any but the worst of our southern neighbour's crises. - roctimo, on 11/21/2008, -0/+2Dugg for testicles becoming potatoes.
- facelogic, on 11/22/2008, -0/+2Both are great ideas. I also think that the government should set aside some money for large scale projects to employ the unemployed if things get worse...like the Hoover dam and interstate highway projects of the past.
- strictnein, on 11/21/2008, -0/+2The Canadian economy and currency is super duper which is why the USD is surging against the Canadian dollar:
http://finance.yahoo.com/currency/convert?from=USD ...
Up 20% in less than two months. Facts are fun. - oldhick, on 11/21/2008, -0/+2Are you guys hiring? I'm a hard worker! ;)
- SHUUTOBI, on 11/21/2008, -0/+1Damn right. ;)
- HonoredMule, on 11/21/2008, -1/+2What, like recession, depression, or economic collapse? It's true though; those words all sound too professional, intelligent, accurate, and more-meaningful-than-catchy for the /modern/ crowd.
Our loosely-defined, /usually/ Anglo-Saxon or Latin derived, post-modern collection of vernacular speech and colloquialisms is eventually going to have to stop piggybacking on the label 'English.' - megaton, on 11/21/2008, -1/+2Yeah, like electricity. And cars. And planes. And computers. And the Internet.
Never woulda caught on without a big catastrophe... - mstrebe, on 11/21/2008, -1/+2Efficiency is the key to success, not innovation.
- HonoredMule, on 11/21/2008, -0/+1@strictnein: Facts ARE fun...and so easily misinterpreted.
A lot of businesses (my boss included) were very upset when the Canadian dollar reached parity with the U.S. dollar, because we have a lot of U.S. clients and income sources. Canada intentionally tailors its currency for a favorable U.S. to Canadian exchange for just that reason. I don't remember what we did to rectify the issue, but I know it was intentional, because I recall my boss talking about it a couple months ago, and complaining that they had already waited too long to take that step...that they could have prevented the dollar parity before it was reached. And here's the FULL picture: http://finance.yahoo.com/currency/convert?from=USD ...
For more substantial evidence, look at our booming property and housing development markets. I wish property would get 30% cheaper in MY neck of the woods...I'm trying to buy a house. - Elranzer, on 11/21/2008, -0/+1No... innovation, like shiny new desktop widgets replacing conventional tasks in the operating system.
Apple will save us from this recession with shiny, expensive widgets!!!
/s - Elranzer, on 11/21/2008, -0/+1Instead of bailing out the banks, they should bail out the state governments. They're all totally broke.
Give a $billion to each state, the cost would be $50Billion. A lot, I know, but cheaper than the Iraq war or the bank bailout. - oldhick, on 11/21/2008, -0/+1@HonoredMule, excellent point. But not quite... When the US sneezes the world gets a cold. That's just the bottom line. Have you seen what's going on in Europe and Asia? Pay attention to the markets.
I honestly believe that Canada is well positioned to navigate the global depression that is coming, but trust me, it will hit Canada as well. You may not fall as far as we will, but you'll be coming down some too. Don't believe me, no skin off my back. Bury your head in the sand and pretend we don't live in global economic environment where the fates of nations aren't intertwined. - Knowltey, on 11/21/2008, -1/+2With a lot of Regression
- Metasquares, on 11/22/2008, -0/+1I said this too. Because it's obvious.
- DrReaper, on 11/22/2008, -0/+1Innovation works in a free market. We have not had one of those for seventy years.
- strictnein, on 11/21/2008, -0/+1You claimed our currency was "***** up". Now, you're saying that the USD's surging against the Canadian dollar is because the Canadian government did "something" because you remember your boss saying something? Amazing.
According to the Canadian Real Estate Association, your housing market is no longer "booming".
From Nov 15: "Housing slump deepens as prices drop most in 26 years"
http://www.theglobeandmail.com/servlet/story/LAC.2 ...
"Nationally, the average price of a resale home in October fell the most, percentage-wise, since August, 1982, sinking 10 per cent from the year before to $281,133, the Canadian Real Estate Association (CREA) says. It was the fifth consecutive month with year-over-year price declines.
Unit sales fell 27 per cent from October, 2007, declining sharply in every province except Newfoundland and Labrador and the Northwest Territories. Month-over-month sales fell 14 per cent, the largest drop since June, 1994." - DrReaper, on 11/22/2008, -0/+1Econaclypse is great. I am going to use it. ha ha it makes me chuckle. Someone pass me a bailout.
- DrReaper, on 11/22/2008, -0/+1Yeah the bible says "The rich ruleth over the poor, and the borrower is servant to the lender."
Jesus also was pissed off by the "money changers" - HonoredMule, on 11/21/2008, -0/+1Well, I can't argue with that, so I guess I'm wrong. I can't help but wonder, however, how this can be, while my local market in the economically-weak east coast still sees 90% of the urban houses on the market getting sold in roughly /24 hours/, and people in new development areas hare getting house calls from their realtor, just to let them know that there's literally a queue of buyers waiting for an opening in their subdivision.
Maybe people are fleeing to here? That seems unlikely, as the professional job market is very weak and the cost of living is pretty much the same as on the bountiful west coast, save that our property is (or was) cheaper. From the sound of it, even that's no longer the case. - HonoredMule, on 11/21/2008, -0/+1Anyway, I hope you're right, the the extent of that correctness reaches here. Next summer would be an excellent time for a huge real estate slump. That's about when construction on the new townhousing where I want to settle will finish, and right now the price is about 10-20 grand higher than it was a year ago when a close friend snapped up an adjacent location.
- Leprince, on 11/21/2008, -0/+1Econaclypse?
Buried for not being able to use more than one word to describe a simple concept. - Technopundit, on 11/22/2008, -0/+1The iPhone will save the world?
- Lagger, on 11/21/2008, -0/+1The key to success is ALWAYS is innovation.
- BobTurtle, on 11/21/2008, -1/+1Wrong. Efficiency is easily duplicated by competitors and is limited (i.e. there is a ceiling on how efficient you can make something). Innovation is a moving target with few (if any) limitations.
- HonoredMule, on 11/21/2008, -1/+1America != global...you know that, right?
In fact, my country is right above yours, and it's going as strong as ever. Not everyone's currency and financial ecosystem is a ***** up as the U.S.'s, and other nations aren't wasting all their money on war and keeping bad businesses alive. - Baryn, on 11/21/2008, -1/+1I speak American, called such because it is better than YOUR language.
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