11 November 2009

And now from the “No D’uh” economics desk…

1.  OPEC is warning that sustained high oil prices coupled with a weakened economy – like say in the Untied States? – could push demand for crude oil downward. Oil demand may not reach the pre-crisis level in the near to medium term.

2.  World Bank head Robert Zoellick is concerned about the persistently high jobless numbers in the United States and the impact that could have on economic recovery globally. The unofficial jobless rate could be as high as 20%, according to former labour secretary Bob Reich.  Officially it is only half that.

3.  TD Economics forecasts that Canada will experience “tepid” growth over the next decade. 

"It is critical to recognize that things will not simply return to how they were," TD economist Grant Bishop says in the report published Tuesday.

Yes, Grant, we are all glad the gang at TD Economics figured out – finally – that the crisis meant change.  When things change they aren’t the same afterward as they were before the crisis. It just takes some people a while to figure that out, apparently.