Segacs's World I Know

Posts Tagged ‘recession’

Haven’t you heard? The recession’s over! This according to the Bank of Canada, which has waved its magic wand and proclaimed an end to all things R-word.

Something tells me that the record number of unemployed people might disagree with that assessment.

Shimon Peres’s attempt to put a positive spin on the global economic crisis:

“The leaders of Iran cannot give their children uranium for breakfast,” Peres said, adding that the world financial crisis would hamper Iran’s progress toward nuclear capability. “As the price of oil declines, Iran doesn’t have as much money to invest in uranium, missiles and terrorism,” he said.

Erm. Not sure about the logic of that one, Shimon. Worsening economic conditions usually breeds more hatred and a need for scapegoating, just as peace usually requires prosperity to achieve. But hey, way to keep up that optimism.