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Kri Ohr

Fiscal Cliff And Canada: TSX Likely To Benefit If Cliff Is Avoided - 0 views

www.huffingtonpost.ca/...ada-tsx-economy_n_2371267.html

Krish: Fiscal Cliff

shared by Kri Ohr on 19 May 13 - No Cached
  • Analysts have warned that the shock of going over the so-called fiscal cliff would halt already tepid global economic growth in its tracks and likely push the U.S. back into recession.
  • old stocks were also a significant drag for the Canadian stock markets as miners contended with higher costs for extracting the previous metal. The TSX's global gold index fell about 19 per cent.
  • But analysts warn that growth in Canadian retail banking, a key strength for the sector over the past several years, will likely slow in 2013 amid record consumer debt levels and a cooling housing market.
  • ...3 more annotations...
  • TSX, has fared better.
  • 13 per cent higher
    • Kri Ohr
      Kri Ohr on 19 May 13
       
      Article talks about how tsx wll play in a role if the fiscal cliff is avoided in Canada
Kri Ohr

Canadians worried about impact of U.S. fiscal cliff | Toronto Star - 1 views

www.thestar.com/...impact_of_us_fiscal_cliff.html

budget recession canada cliff

shared by Kri Ohr on 20 May 13 - No Cached
    • Kri Ohr
      Kri Ohr on 20 May 13
       
      Consumer Confidence
  • The survey also found that just over half of Canadians say that they had a good year in terms of work and personal finances. But 54 per cent feel they are not better off financially than they were a year ago.
  • The so-called fiscal cliff is a slate of automatic tax hikes and spending cuts that will take effect on Jan. 1 unless Republicans and Democrats can hammer out an alternative plan.
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  • Almost two-thirds of Canadians are worried that the impending U.S. fiscal cliff will hurt the Canadian economy, according to a survey commissioned by Sun Life Financial.
  • On average, 48 per cent are optimistic about the economy in 2013, with 26 per cent feeling pessimistic.
  • The percentage of folks feeling gloomy about the outlook for next year jumps to 31 per cent in Ontario and 28 per cent in Quebec.
Kri Ohr

What is the 'fiscal cliff,' and should Canadians be concerned? | CTV News - 0 views

www.ctvnews.ca/...nadians-be-concerned-1.1028588

federal economy Fiscal Cliff

shared by Kri Ohr on 20 May 13 - No Cached
    • Kri Ohr
      Kri Ohr on 20 May 13
       
      How America will effect Canada
  • Unless a deal is reached by the end of this year, temporary tax cuts will expire, concurrent with the introduction of huge spending cuts.
  • The tax increases and spending cuts add up to more than US$600 billion, and are expected to have an immediate and catastrophic effect on the U.S. economy -- and by extension, any economies that rely heavily on it, such as Canada.
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  • fiscal cliff is "a sharp rise in taxes and deep cuts in federal spending" set to automatically take effect in January unless the U.S. Congress acts.
  • Buried within the $600 billion in cuts and taxes are reductions to the U.S. defence budget, changes to Medicare allowances and higher personal taxes. Even some child support and income credits for the poorest Americans are set to end.
  • And Finance Minister Jim Flaherty warned Wednesday that failure to reach a deal before Jan. 1 will plunge the United States into a recession quickly, with Canada to follow shortly afterward.
Kri Ohr

Fiscal cliff will plunge Canada into recession, Jim Flaherty warns | Economy | News | F... - 0 views

business.financialpost.com/...canada-into-recession-flaherty

Fiscal Cliff canada recession

shared by Kri Ohr on 19 May 13 - No Cached
    • Kri Ohr
      Kri Ohr on 19 May 13
       
      Article talks about how Canada's economic future is depended on whether the US can reach a deal on the fiscal crisis. 
  • plunge the United States into a recession quickly, with Canada to follow shortly afterward.
  • DP, according to the Americans themselves, would be 4 to 5%, which would put the U.S. economy into recession quite quickly and the Canadian would follow shortly thereafter,
  • ...4 more annotations...
  • U.S. politicians need to get to work quickly on putting together a fiscal compromise that will avoid an economic crisis.
  • US$600-billion in tax cuts and spending beyond Dec. 31.
  • Speaking in Ottawa, Flaherty says finding compromise won’t be easy for American politicians, but he pointed out that the Har
  • er government was able govern for five years as a minority, so it can be done.
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