Ft just posted an article about Wal-Mart’s disappointing sales numbers. Same store sales only rose by 0.5%. Relatedly Cisco had some timid sales projections of its own. Taken together that means declining business investment coupled with declining consumer demand. All of this coupled with the news that the
fiscal stimulus package has stalled out in the senate and that the Europeans and Japanese have no intention of opening the fiscal spigots means that the picture for global demand is gloomy.
If I were the liberals and the NDP, I would not be looking to knock the Cons out of power until after the recession migrated north. I can just see the headline: Complacent Cons Get Turfed for Dismal Macroeconomic Management.