May 22, 2020

Devastated Economies – Scolded By MOM

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Canadian economy devastated by Covid-19

Statistics Canada today issued a flash estimate for GDP, showing a decline of 9% in March, marking the largest single month decline ever seen since records were tracked beginning in 1961.

The agency’s flash estimate points to a 2.6% decline in the first quarter. It issued its flash estimate due to the Covid-19 outbreak, but StatsCan points out the data should not be expected to be as accurate as its traditional GDP reports, which draw on more actual data.

Still, it offers a glimpse of the devastating toll the virus is having on the Canadian economy

Canada’s economy may never return to what it once was

No, it won’t come roaring back by the summer. Canada is enduring an economic collapse many economists warn will make the Great Recession seem tame by comparison.

When the Chainsaw bar in Waterloo, Ont., opened its doors in mid-2009, it was just weeks after the official end of the last recession and the start of the long-slog recovery that followed. Even so, the bar soon became one of the university town’s most popular watering holes, renowned for its cheap drinks and raucous karaoke nights. So when the bar temporarily closed its doors on March 16, part of the expanding effort to stop the spread of COVID-19, many locals expected the place to be back up and running once the viral threat had subsided.

Justin Trudeau says companies will need to show they’re ‘thinking about’ climate change to get government loans. Here’s what that means

Need a federal loan to survive the crumbling pandemic economy? If you’re running a large company, you’ll have to show you’re “thinking about” climate change, Prime Minister Justin Trudeau says.

That’s one of the conditions attached to the government’s new “bridge loans” program, unveiled Monday, to help big corporations survive the COVID-19 crisis.

Homeless, unemployed to get cell phones, voicemail

Programs in Vancouver and Prince George aim to keep disadvantaged citizens connected

For most people, cell phones and the connectivity they provide are an essential part of modern life. For those who are homeless, poor or unemployed, not having access to a phone can make a bad situation worse — a problem that two B.C. initiatives are attempting to address.

In Prince George, the Metis Housing Society has started a new program called “Community Voicemail.” The organization will provide a bank of phone numbers with voicemail to agencies that work with homeless and unemployed people. Users will be able to check their messages from any phone.

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