Canadians among most optimistic globally about economy: report

[Praxius]

Canadians among most optimistic globally about economy: report

Amid pervasive doom and gloom about the global economic crisis, Canadians are among the most optimistic worldwide when it comes to their financial futures, according to a report released Wednesday.

Not unlike people elsewhere, Canadians have deep concerns about the economy and lowered consumer confidence, but they tend to have a rosier view of the future, Tony Coulson, vice-president of Environics Research Group in Ottawa, told the CBC in an interview.

"It's sort of a glass half-full mentality," Coulson said. "It says, 'This is a recession in the stock market rather than on the streets for Canadians,' so they're not feeling the pinch as much and are looking forward to better times ahead."

By comparison, Ireland appears to have a glass half-empty perspective, the Environics study found.

"Ireland is definitely the country where there's the most worry about the economy and the least optimism about the timing of the recovery," Coulson said.

China was the most optimistic overall.......

Something else for brain food from the report:

Among the report's other key findings:

• Seven in 10 Canadians believe the economy is getting weaker, which is one of the highest levels since Environics started tracking this question in 1986. In Greece, 78 per cent think the economy is worsening.

• Half of Canadians believe their economy is already in recession, while 91 per cent of Japanese think theirs is.

• Fifty-six per cent of Canadians say the current economic climate is the worst in their lifetimes, which puts Canada in the middle of the global pack on the issue. By comparison, nearly 89 per cent of Americans feel this way, while only 29 per cent in China do.

• Twenty-nine per cent of Canadians believe the U.S. and former president George W. Bush are to blame for the economic situation, while 45 per cent of Japanese think so and only 17 per cent of Americans do. Globally, national governments were blamed most often for the crisis.

• After the U.S./Bush, 14 per cent of Canadians feel their federal government is to blame for the crisis, followed by the financial industry (six per cent) and corporate greed (six per cent).

• Consumer confidence has weakened globally, with negative sentiment ranging from 20 per cent in China and Germany to 83 per cent in South Korea. Half of Canadians say this is a bad time to buy, putting Canada in the middle of the pack.

• Three in 10 Canadians are worried about losing their jobs, a level that is well below other countries. In Russia, for example, 71 per cent are very concerned or somewhat concerned about job loss.

• Canadians are optimistic about the future. Seventy-one per cent don't expect the recession to last more than two years, compared with Ireland, where only 18 per cent feel this way.

• Forty per cent of Canadians think their personal financial prospects will improve in the next six months, which is second only to the U.S. at 59 per cent.

Interesting... how do you feel about the above situations personally?

(Not how you feel about the report, but the questions asked.... AKA: if you were asked the above how would you respond?)

[Chinook]

Interesting, but not surprising. I think we Canucks are generally an optimistic lot.

If I were asked the above questions:

I agree that our economy is weaker, but I think we're dynamic enough to strengthen it later (there's that half-full pint glass mentality again).

The media tells me we're in a recession, and I personally feel it, but a shopping trip in Calgary yesterday had me wondering... What Recession? I believe we're in a recession, but I don't think it's nowhere near as bad as previous ones.

This isn't the worst economic recession in my lifetime. Out here, in Alberta, everyone remembers the early 80's, and that was bad. When I was a kid, the bumper stickers were "Please God, give me another oil boom. I promise I won't piss it away this time!" and I think everyone in this part of Canada would agree that this downturn is nothing like the last big one. BUT, I think the opposite is true for the manufacturing East, where everyone I know seems to be in full-fledged panic mode, I don't know if everyone under 50 has been through this whole thing before out there. Maybe that's why they're all screaming for gov't bailouts. Either way, this isn't the worst in my lifetime.

I'm curious to know how this fourth question was worded. I think this recession might be to blame on Bush only because without some of the policies his government implemented post 9/11, we might have experienced this recession sooner. I don't really blame our own Canadian government, but I think greed, both corporate and personal, is the biggest cause of all.

I don't think this has impacted consumer confidence too much. This is a bad time to buy... what exactly? House prices have been ridiculous here for years, and it is finally a good (i.e. affordable) time to buy for many of my friends.

I'm not worried about my job, because I already lost it. The resource exploration and mining sectors have pretty much collapsed, so there wasn't much I could do about it. On the other hand, I'm confident I'll find any job to work for now, and I'm equally confident I'll have my career back once things pick up again.

I'm optimistic about the future. Demand for resources will pick back up, possibly sooner than I think, and I'll have a job back. The economy here will start back up. I hope it doesn't resume to the frenzied level of last year, though. That was too busy, too greedy and too insane.

I think my financial prospects will definitely improve. I remember the last big recession, I was taught to save and be frugal, and it's paying off now. I don't think I'm anywhere near dire financial straits, and I'm confident things will improve.

[Praxius]

For me personally, I don't notice anything in regards to a recession where I live either... my job hasn't been affected, people are still coming in and getting signs/logos/vehicle graphics..... while I hear a lot about job losses in lumber, auto and oil..... .that's pretty much it..... everything else around here seems to be business as usual.

Then again they say Nova Scotia is going to be one of the stronger provinces to come out of this Economic situation compared to other provinces.

[Disinformant]

I have a close family member in Ottawa and it isn't all that peachy, he is having a hard time getting more work. Thankfully, his health care is free.

[Nono]

Then again they say Nova Scotia is going to be one of the stronger provinces to come out of this Economic situation compared to other provinces.

It would be nice to see the Maritimes get a break.
But who is "they"?

And it's true, Disinformant, that "free" (publicly funded) health care makes it less likely that losing your job and needing major surgery prove a fatal combination.

[Disinformant]

indeed, but the hospital system will be pushed to its limit in the years to come, and the level of docility of the Canadian people won't factor in (or whatever this topic is REALLY about)

[Praxius]

It would be nice to see the Maritimes get a break.
But who is "they"?

Always one to ask for sources eh?

State of the Province Address - December 4, 2008
Premier of Nova Scotia—Premier's Speeches—State of the Province Address

..... But, it’s not all doom and gloom. There are indications that Nova Scotia will fare better than many other regions.

I’m proud to tell you today that Nova Scotia’s unemployment rate remains the lowest in Atlantic Canada.

In fact, more Nova Scotians were working in October than ever before in our province’s history......

......Consumer spending is up and tourism, which is so important to many part of Nova Scotia, held its own in 2008.

And economists from Canada’s chartered banks agree that our province is relatively well placed to ride out this economic storm.,,,,,

There was more that I seen in the news on TV, but that's a bit hard to supply here..... you'll just have to take my word for it.

Besides.... why would I lie?

[ironeagle]

I suppose it's pretty easy to be optimistic when your government has you preprogrammed to be, and since the canadian government does nothing but steal from it's people "for the greater good", and the people are obviously brainwashed into total government control with a smile.

[Nono]

"I’m proud to tell you today that Nova Scotia’s unemployment rate remains the lowest in Atlantic Canada."

What?! Lower than in Newfoundland?? Incredible!

[Nono]

I suppose it's pretty easy to be optimistic when your government has you preprogrammed to be, and since the canadian government does nothing but steal from it's people "for the greater good", and the people are obviously brainwashed into total government control with a smile.

Jeez, thanks for the inside-track info, i. Those zamboni-drivers really are a pathetic bunch. Hell, what can you do? Americans keep telling them the right way to live and be governed, and demonstrating by their sterling example. But some people never learn.

Anyway, thanks again for the reality check.

[Praxius]

I suppose it's pretty easy to be optimistic when your government has you preprogrammed to be, and since the canadian government does nothing but steal from it's people "for the greater good", and the people are obviously brainwashed into total government control with a smile.

Sez the guy from the States.

Don't worry, I don't trust Harper as far as I can toss that non-emotional cyborg, nor do I trust most in my government.

And in the other forums I used to venture into, I posted a plithora of crap about our government and the things they do wrong..... I'm usuaully the first to say so as well.

However in here, being as it's mostly members from the US, I see no point posting canadian politics, since I already know there's almost zero interest in our politics here..... so why waste my time?

I never said our government or those in it are angels or can't do any wrong.... but as it goes with how things have been going down in our country over the last year or so, we have been fairing a lot better then most in the world.... I still have my job, there is still plenty of market for my company and things are going well.... it's not for some in the country, but we are not seeing the big problems that are occuring in most other countries.

And considering our position of being joined at the hip with the US, we are doing pretty good.

So I'm sorry that us being positive about our future isn't what you wanted to hear and it makes it difficult to gloat over Canada's failures for once.... but that's out of my powers at present.

Maybe tomorrow.

[Nono]

I see no point posting canadian politics, since I already know there's almost zero interest in our politics here..... so why waste my time?

Aw c'mon, Prax. You know you can always discuss it with me.