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THE CANADIAN ECONOMY has officially slipped into recession, dragged down by rock-bottom global oil prices.
The world’s 11th-largest economy delivered its weakest figures since the global financial crisis hit in 2008, according to government data out today.
Its economy recorded a second-straight quarter in negative territory, posting a 0.5% contraction in the three months to June.
It followed a 0.8% decline for the previous quarter. The back-to-back drops put the country into a technical recession.
Over one-quarter of Canada’s exports are in oil and gas, leaving it one of the countries most exposed to the collapse in global energy prices.
Oil prices dropped to new, six-year lows last year as the wheels showed signs of falling off China’s engine for global growth. The commodity had already been trading at heavy discounts due to a glut of supply and flagging demand.
However there have also been other blemishes on Canada’s financial bill of health.
The property market has been in bubble territory for years, with The Economist recently ranking the country’s house prices the third-most overvalued relative to average incomes in the world – behind only Belgium and Australia.
That has pushed Canadian households further into debt, while lower business investment was separately marked as the main contributor to the latest economic decline.
But the weak GDP figures are yet to lead to any jump in unemployment with the official jobless rate sitting at 6.8% – below the 7%-plus figures seen since the 2008 financial collapse.
The country’s prime minister, Stephen Harper, has insisted that, oil aside, the economy is doing fine.
Meanwhile, an estimated 25,200 people have emigrated from Ireland to Canada since the start of 2010, according to the CSO, while only 7,300 have come back the other way.
- With AFP
great, something else to be anxious about
I’m sure someone has a pill made to solve ” this new problem”. Big pharma are making so many new drugs for conditions that don’t exist that they will fund any research to come up with crazy studies like this !!
In fairness how DO they come up with this complete and utter BS?
#Michael Roughan. You have honestly repeated your ‘Big Pharma’ hatred on every single article I’ve read in the last ten minutes.
Don’t you worry your wee head about it.
He looks like the wife is nagging him !!!
I was sure they ,d cum too that conclusion
Sperm from masturbating men produces no children
Wrong
Ivf…
Depends where they leave it!
So stressed out father is good or bad? Seems to say both!
Sure you can’t win!
The field of epi-genetics was essentially discovered as a result of pharmaceuticals studying new ways to treat cancer.
The study this article discusses wasn’t about preventing the passing on of methyl markers in progeny’s DNA, but rather, it was about how they noticed that external influences can actually alter DNA being passed on without changing the DNA structure itself.
I’m impressed
“Daddy……..daddy cooooool”!
Researchers need to be more responsible. What does this really mean, and what are the limitations of the research? Do we want fathers blaming themselves for their children who suffer from anxiety or depression, which is caused by their genes mutating? I think this topic needs much more investigation before its disseminated to the public.
I’m pretty sure the purpose of this research wasn’t to find a way to guilt trip fathers.
It just means that factors such as stress can express themselves in genes which are present in gametes by way of epigenetic markers.
Besides, this study wasn’t limited to fathers, epigenetic markers affect both sexes in the same way.
We also need to remember that the research was completed with mice. How was the stress induced? How does it compare to human stress? How was anxiety or depression established? How does this equate to humans? I’m not disputing the relevance to science- merely the applicability to humans – and the effect that a fathers sperm
may have on a humans mental health status- which is what the article seems to be inferring
How do u know if a mouse is stressed?
It will ask you for a massage?
I’m just glad to see some of the blame, er I mean responsibility for children’s traits being put on the dads as well as the mums. Every few weeks there seems to be another bit of research to say that anything a mother does / doesn’t do will negatively impact her child … Like gestating and bearing a child isn’t stressful enough!!
I still can’t believe I read that headline correctly…
What have men to be stressed about that a coffee with the boys in Avoca wouldn’t sort out ? …. Sitting there with their shades on their head at 11 in the morning relaxing
Dip the wick … Pay for the oil
You reap what you sow
I hope they used a 35yr old mouse who was heavily involved in the rat race.
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