Business

Newspaper Article. ( Business)

Canada can weather storm.

The first business article stated that Canada will be positioned well to weather the financial

crisis. Bank of Canada Governor Mark Carney said that statement because the Canadian Banks are not

doing as bad as American banks. I think those remarks reminds all Canadians that we are on a recovery

cycle and not on a recession. Canadians have lost their jobs but the job losses that we see in Canada are

minimal compared to other nations and I see that as a great recovery sign. I think with the $ 700 billion

bailout package now in effect, the bank will start to loan more money and the consumers will feel more

optimistic and buy more goods and services. This will result in increased demand, increased production

and increased employment.

Ottawa Based Allen Vanguard Corp.

The second article talks about the Ottawa Based Corp, a maker of technology to stop terrorist

attacks, will cut 15 percent of its staff which will leave more than 100 employees unemployed. I think

cutting jobs will worsen the shape of the economy because people would not spend as much if they

were unemployed compared to having a good job. If consumers dont spend money, many other jobs

can be affected by this job cut. I still think that it shows that we are on a recovery stage and this will be

a slow recovery. Consumers will have to feel more confident and believe in the economy .

This is why I think this crisis will be a slow recovery.