2008-09-16

Unit 2: My Opinion On Randomly Chosen Article

Worrisome economic reports add to market fears in Canada, U.S.

As a matter of fact, the index of affordability which includes sales of new cars and houses has decreased significantly in the country what bears witness of the slump.  The authorities assure there is no reason for awaiting something worse than it has been and the Canada’s economy is stronger than her American counterpart. I am not very good at the economics but I do not see any principal difference between them.

For my deeper concerns those bad economic reports do not bode well for us. All market indicators, first of all, like job growth, housing sales and prices are a little bit better in Canada than in the U.S. at the moment.

I could not say much about this steepest drop of the exchange indices but I am able to judge about my personal plans on buying my own home. Now, it seems to me more far away along with the last news on the market.

The only thing that always makes me surprised is the gas prices: despite all these news about oil prices drop below $95 per barrel, quite the opposite, they have still been rising!

I believe we have to prepare for bad times because as far as I can judge that is only the tip of the iceberg. I am not sure what the word recession means precisely but I guess the continuing growth of prices and of unemployment (thanks god not yet in IT industry!) are in this notion.

As to a number of the huge financial corporations bankrupting lately as falling apples from the tree and all that jazz I suppose it proves the theory on the capitalistic economy as the subject to periodic crisis. Good times bad times. We will go through it.

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