Friday, February 06, 2009

Canada lost 129,000 jobs in January: StatsCan

see here for the gory details

The economic crisis continues and is now mounting. What differentiates this particular downturn is the rapidity of the slow-down, the extent and size of individual Mortgage Debt, and the shared-pattern on a global scale.

This is NOT a recession. This is a deflationary spiral, and if we do not arrest it soon we are headed toward our first Depression in over 70 years.

To all of you ignorant economic neo-liberals of the CPC:

Recession and Deflation are two very different things.

More "free-market bullshit" will not help this time.

Unlike most of your Parents, my Parents lived through the 1930's.

They taught me to never forget, and I will never forget how it imprinted on them for the rest of their lives.

It was a pure trauma the they never got over in so many ways ... and their generation were a far hardier people than we currently are.