Economic Outlook

China Warns Of Possible Armed Conflict With US Over Coronavirus Backlash

An internal report presented to Chinese President Xi Jinping and other top leaders concludes that global anti-China sentiment is at a level not seen since the 1989 Tiananmen Square crackdown, and recommends preparing for a worst-case scenario of armed conflict with the United States, according to Reuters, citing people familiar with the content of the document.

The report, created by the China Institutes of Contemporary Internal Relations (CICIR) – which is affiliated with the Ministry of State Security – suggests that the wave of anti-China sentiment is led by the United States, which sees China’s rise as a global superpower as a threat to Western democracies. CLICK for complete article

C.D. Howe’s Business Cycle Council says country has entered a recession

Canada has officially entered a recession due to the economic devastation caused by the COVID-19 pandemic, the C.D. Howe Institute’s Business Cycle Council declared Friday.

The council, which acts as an arbiter of business cycle dates in Canada, said the economy peaked in February before the steps taken to slow the spread of the coronavirus brought the economy to a standstill.

“Members agreed that by applying the council’s methodology to the preliminary data available, Canada entered a recession in the first quarter of 2020,” the council said in statement.

There are no hard and fast rules for determining a recession, though a commonly used definition is two consecutive quarters of negative quarter-over-quarter economic growth.

However, the C.D. Howe council defines a recession as a pronounced, persistent, and pervasive decline…Click for full article.

Gold & Silver Alert: Fed Vows Aggressive Action

Includes an update from ValOre CEO Jim Paterson at the 12 minute mark regarding VO’s financing and PGM metals drill program confirmation in Brazil. ~Ed

Economy in Banff has ‘collapsed’ as COVID-19 wipes out tourism industry

In the nearly six weeks since declaring a state of local emergency and shuttering all non-essential businesses, the economy in Banff has been at a standstill.

Normally, tourists would be flocking in droves to the mountain destination — at this time last year, the town’s main concern was finding enough parking spots. Now, Banff streets are eerily quiet and RCMP checkstops occupy the two main entrances to town. “Our economy is basically 90 per cent based on tourism, directly and indirectly, so our town has ground to a halt. It’s a very serious… Click for full article.

Diane Francis on Saturday’s Show

Diane will join Michael Campbell this weekend (April 25) to share her thoughts on why the Provinces should adopt the German model: prioritize antibody testing and immune certification. Click here for article.

Diane Francis: Canada must follow Germany’s path to reopening the economy

It’s no coincidence that the first large Western democracy to contain the spread of COVID-19, and the first to prepare to reopen its economy, is Germany, whose leader, Chancellor Angela Merkel, is a trained scientist. Click for full article