A Footnote to the Headlines
With so much doom and gloom in the headlines these days, it is no wonder that buyers and sellers are paralyzed. But what are the realities behind the headline news? As consumers, we need to dig into the issues, availing ourselves of unbiased reports in order to position ourselves to come out ahead.
It seems that good news doesn’t sell papers. Did anyone find, buried on page 17 of the Calgary Herald (August 29, 2008) that “Alberta has the best-performing labour market in North America, reflecting its strong job growth, high productivity and low durations of unemployment”. Or how about “City [Calgary] job market No. 2 in Canada”? which appeared in the Calgary Herald (Sept 9, 2008.)
“Canadian rules will prevent U.S. –style crisis” “We’ll feel some ripple effects but growth here should remain positive” affirms Jay Bryan in The Vancouver Sun. ( Sept 23 , 2008)
“The average Canadian should not be too worried”, said Laurence Booth, a finance professor at University of Toronto’s Roman School of Management, quoted in the Financial Post of Sept. 16, 2008. “The turmoil in the United States and the rest of the world was caused by “huge blunders by investment banks” but that didn’t happen in Canada, and as a result the financial system here remains healthy. [] Banks and other players will take losses “but nowhere near the level in the U.S. [] The soundness of the Canadian banking system is not affected”.”
So, maybe it’s time for us to take the advice of Charles Frank, Business Editor for the Calgary Herald who encourages Albertans to “Take a deep Breath: Alberta’s got it good.” (Sept 19, 2008)