The Federal Government, is on a whim to eliminate 21000 approx jobs. The military civilian support jobs will be hit, as well as in other departments. The CBC will be laying off approximately 450 employees in order to deal with their budget losses.
The IMF warned about doing this, as broadcast on the news, a day ago. They worry that if every country reduces budgetary spending too fast, that the world could go back into a recession again. Spain had announced budgetary spending cuts as well. As the world struggles to deal with deficits and debt loads, it means less spending out in the economy. Less money to go to keep it humming along. This would be against the FDR principles. Franklin D Roosevelt was one of my favorite presidents. He helped the United States struggle against a severe depression, and brought back the country to strength and stability. He created jobs, and helped to ignite the economy. What todays governments are doing, are reducing jobs.
With the price of gasoline headed to a 141 in Canada, this is another high peak. Maybe not a record, but it is getting there. They say the refining capacity is low. This is what is creating the problem. If this is what is creating the problem, the United States, or Canada, should create more "Refining Capacity" and end this problem once and for all.
This will definitely have an effect on truck sales, and overall spending. Less money to be spent on goods and services. Create some "Refining Capacity" somewhere, in the world.
The economy is in a teetering balance. It seemed to be going ahead for awhile, with the USA creating over 200 000 jobs in the last month or so. We hope it can continue, to foster economic stability followed by growth. What we need is companies to expand their product lines, their ingenuity, to create work. It is up to small business to step up to the plate, and create, expand, grow bigger, to create jobs. Grow bigger. That is the bottom line!
Have a good afternoon, till next time...