The Bank of Canada released thei recovery forecast claiming that Canada should be out of a recession by mid year 2009. Many economists see this as too optimistic. After all, the Bank of Canada didn't do a great job of warning me of the start of this recession / depression? Why would they get the timing, pace, depth and scope of the bottom right?
What's usefull about the picture above is that business should design contingency and survival plans for different recession bottom scenarios, just in case they are wrong. What's the downside of betting an a "premature" false positive bottom for your business? see The Opportunity Clinic; 28 Tactics for managing your Business in a recession Part 6 of 28 What's in your Recession Playbook?
Walter Derzko -"Changing the world, one idea at a time"©
Author of the soon-to-be-released book: Hard Times Golden Opportunities.. about opportunity recognition in a recession/ depression featuring 45 opportunity scenarios.
Expert, Consultant and Keynote Speaker on Emerging Smart Technologies, Innovation, Strategic Foresight, Business Development, Lateral Creative Thinking and author of an upcoming book on the Smart Economy "
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- ".....Strategy without action is a day-dream; action without strategy is a nightmare"-old Japanese proverb
- ".......Ours is the age that is proud of machines that think and suspicious of men who try to." -- H. Mumford Jones
- ".......Without changing our patterns of thought, we will not be able to solve the problems we created with our current pattern of thought." --A. Einstein
- ".......Change is difficult, but complacency and stagnation are surefire showstoppers..." --Walter Derzko
- ".......Never doubt that a small group of thoughtful, committed citizens can change the world; indeed, it's the only thing that ever has." -- Margaret Mead
- ".......Small minds discuss people; Average minds discuss events; Great minds discuss ideas; --Anon
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