{"id":14958,"date":"2015-12-01T19:16:37","date_gmt":"2015-12-02T00:16:37","guid":{"rendered":"http:\/\/olduvai.ca\/?p=14958"},"modified":"2015-12-01T19:16:37","modified_gmt":"2015-12-02T00:16:37","slug":"looney-plunges-as-canadian-gdp-collapses-most-since-2009","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=14958","title":{"rendered":"Looney Plunges As Canadian GDP Collapses Most Since 2009"},"content":{"rendered":"<h3 class=\"title\"><a href=\"http:\/\/www.zerohedge.com\/news\/2015-12-01\/looney-plunges-canadian-gdp-collapses-most-2009\" target=\"_blank\">Looney Plunges As Canadian GDP Collapses Most Since 2009<\/a><\/h3>\n<p>Who could have seen that coming? It appears, for America&#8217;s northern brethren, low oil proces are unequivocally terrible. Against expectations of a flat 0.0% unchanged September,\u00a0<strong>Canadian GDP plunged 0.5% &#8211; its largest MoM drop since March 2009 and the biggest miss since Dec 2008<\/strong>. With\u00a0<a href=\"http:\/\/www.zerohedge.com\/news\/2015-03-24\/canadian-housing-bubble-has-begun-burst\">Canada&#8217;s housing bubble bursting<\/a>, it&#8217;s time for the central planners to get back to work and re-invigorate the massive mal-invesment boom (and\u00a0<a href=\"http:\/\/www.zerohedge.com\/news\/2015-09-11\/inside-ground-zero-canadas-burst-oil-bubble\">ban pawning of luxury goods<\/a>).<\/p>\n<p>In the past year, we have extensively profiled the collapse of ground zero of Canada&#8217;s oil industry as a result of the plunge in the price of oil, in posts such as the following:<\/p>\n<ul>\n<li>&#8220;<a href=\"http:\/\/www.zerohedge.com\/news\/2015-01-14\/canada-crude-contagion-calgary-home-prices-drop-most-2-years\">Canada Crude Contagion: Calgary Home Prices Drop Most In 2 Years<\/a>&#8220;<\/li>\n<li>&#8220;<a href=\"http:\/\/www.zerohedge.com\/news\/2015-03-24\/canadas-biggest-oil-casualty-date-calgarys-nexen-shutters-oil-trading-desk\">Canada&#8217;s Biggest Oil Casualty To Date: Calgary&#8217;s Nexen Shutters Oil Trading Desk<\/a>&#8220;<\/li>\n<li>&#8220;<a href=\"http:\/\/www.zerohedge.com\/news\/2015-03-24\/canadian-housing-bubble-has-begun-burst\">The Canadian Housing Bubble Has Begun To Burst<\/a>&#8220;<\/li>\n<li>&#8220;<a href=\"http:\/\/www.zerohedge.com\/news\/2015-06-26\/mourning-malinvestment-canadas-oil-patch-confidence-crashes\">Canada&#8217;s Oil Patch Confidence Crashes<\/a>&#8220;<\/li>\n<li>&#8220;<a href=\"http:\/\/www.zerohedge.com\/news\/2015-02-01\/canada-mauled-oil-bust-job-losses-pile-%E2%80%93-housing-bubble-banks-risk\">Canada Mauled by Oil Bust, Job Losses Pile Up \u2013 Housing Bubble, Banks at Risk<\/a>&#8220;<\/li>\n<li>&#8220;<a href=\"http:\/\/www.zerohedge.com\/news\/2015-02-03\/stage-set-massive-housing-market-correction-canadas-oilpatch\">The Stage Is Set For A Massive Housing Market Correction in Canada&#8217;s Oilpatch<\/a>&#8220;<\/li>\n<\/ul>\n<p>Since then it has gotten far, far worse for Canada&#8230; GDP is down 0.5% MoM\u00a0<strong><em>(and unchanged YoY &#8211; the worst since Nov 09)<\/em><\/strong><\/p>\n<p><a href=\"http:\/\/www.zerohedge.com\/sites\/default\/files\/images\/user3303\/imageroot\/2015\/12\/20151201_cad2.jpg\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.zerohedge.com\/sites\/default\/files\/images\/user3303\/imageroot\/2015\/12\/20151201_cad2_0.jpg\" alt=\"\" width=\"600\" height=\"314\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<p>The initial reaction is a tumbling looney&#8230;<\/p>\n<p><a href=\"http:\/\/www.zerohedge.com\/sites\/default\/files\/images\/user3303\/imageroot\/2015\/12\/20151201_cad1.jpg\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.zerohedge.com\/sites\/default\/files\/images\/user3303\/imageroot\/2015\/12\/20151201_cad1_0.jpg\" alt=\"\" width=\"600\" height=\"310\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Looney Plunges As Canadian GDP Collapses Most Since 2009 Who could have seen that coming? It appears, for America&#8217;s northern brethren, low oil proces are unequivocally terrible. Against expectations of a flat 0.0% unchanged September,\u00a0Canadian GDP plunged 0.5% &#8211; its largest MoM drop since March 2009 and the biggest miss since Dec 2008. With\u00a0Canada&#8217;s housing [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[103,1861,1851,9456,406,2446,1775,4318],"class_list":["post-14958","post","type-post","status-publish","format-standard","hentry","category-economics","tag-canada","tag-canadian-dollar","tag-commodity-price-collapse","tag-gap","tag-housing-bubble","tag-loonie","tag-oil-price-collapse","tag-zerohedge"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/14958","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=14958"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/14958\/revisions"}],"predecessor-version":[{"id":14959,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/14958\/revisions\/14959"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14958"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14958"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14958"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}