Global financial crisis/recovery: What does it mean for Saskatchewan?
- by Dr. Simon Enoch, Director of the Saskatchewan office of the Canadian Centre for Policy Alternatives.
These remarks were delivered to the Saskatchewan CED and Co-operatives Conference, April 8, 2011, Mount Royal Collegiate, Saskatoon by Dr Simon Enoch.
"This is a somewhat difficult topic to tackle because as far as the global recession is concerned, Saskatchewan has weathered it rather well. If anything, our main problem may be the management of our current prosperity and resource wealth, all of which is certainly tied to the rapidity and the resilience of a global economic recovery.
Given there are so many unknowns on this issue, I will be forced to speculate based on current trends and the likelihood of potential scenarios emerging in the future. So I am certainly not offering predictions here, but rather identifying possible challenges that may arise given the uncertainty of the current global economic situation.
First off, we should ask the question of whether we are in recovery, or perhaps, recovery for whom? It is no secret that corporate profitability has reached record levels recently, so the corporate sector is certainly “recovering.” The problem is that they are reluctant to invest, sitting on piles of cash in the billions – if not trillions – of dollars awaiting the return of profitable investment opportunities." continue reading here.....