Storm clouds over Canadian economy

[Anonymous]

CN is a bellweather of the economy. This isn't good.



By Mark Bonokoski of Sun News Media



The bad news for Canada's economy is only getting worse.



CN Rail confirmed our faltering economy — aided by Donald Trump's trade war with China and China's hard-nosed approach to Canadian exports over the house arrest of a top Huawei executive at the behest of the U.S. — has begun cutting back freight volumes and laying off upwards of 1,600 workers.



This was seen coming, of course, when CN'S chief financial officer, Jean-jacques Ruest, put out a public warning in September that some of his company's rails were a little dodgy.



"One in five Canadian jobs is dependent directly on trade," he told CTV. "And we have a problem of a collapse of market access with the rest of the world, and with the United States."



But where was this found in the election campaign as Canadian exports of canola, beef and pork were being terminated by China as two Canadians, Michael Kovrig and Michael Spavor, continued to languish in its jails on trumped-up charges because of the Huawei executive's house arrest in Vancouver?



"One in five Canadian jobs is dependent directly on trade. And we have a problem of a collapse of market access with the rest of the world, and with the United States." John moore, former federal industry minister

[Anonymous]

CN is a bellweather of the economy. This isn't good.



By Mark Bonokoski of Sun News Media



The bad news for Canada's economy is only getting worse.



CN Rail confirmed our faltering economy — aided by Donald Trump's trade war with China and China's hard-nosed approach to Canadian exports over the house arrest of a top Huawei executive at the behest of the U.S. — has begun cutting back freight volumes and laying off upwards of 1,600 workers.



This was seen coming, of course, when CN'S chief financial officer, Jean-jacques Ruest, put out a public warning in September that some of his company's rails were a little dodgy.



"One in five Canadian jobs is dependent directly on trade," he told CTV. "And we have a problem of a collapse of market access with the rest of the world, and with the United States."



But where was this found in the election campaign as Canadian exports of canola, beef and pork were being terminated by China as two Canadians, Michael Kovrig and Michael Spavor, continued to languish in its jails on trumped-up charges because of the Huawei executive's house arrest in Vancouver?



"One in five Canadian jobs is dependent directly on trade. And we have a problem of a collapse of market access with the rest of the world, and with the United States." John moore, former federal industry minister

I heard CN's  conductors and engineers were in a strike position, but I didn't know their business is slowing..



IHJ works for CP, he should know more about this.

[Anonymous]

Our grain and potash shipments are down. So far, no lay offs.

[Anonymous]

China is buying less of our ag products. Heavy rains this year is the other part of it.

[Anonymous]

I wonder if the federal government will force them back to work.

[Anonymous]

I wonder if the federal government will force them back to work.

He needs the support of the ultra prog parties, so not a chance.

[Anonymous]

A long strike is bad news.



https://business.financialpost.com/transportation/rail/a-lengthy-cn-strike-could-hit-country-hard-with-no-remedy-available-from-parliament?utm_term=Autofeed&utm_medium=Social&utm_source=Facebook&fbclid=IwAR1FhjF46nataTqV9-oVSMVdOIWNyCpSjlhmIpa0F2nTZw6zByWsQM6bJUw#Echobox=1574202865">https://business.financialpost.com/tran ... 1574202865">https://business.financialpost.com/transportation/rail/a-lengthy-cn-strike-could-hit-country-hard-with-no-remedy-available-from-parliament?utm_term=Autofeed&utm_medium=Social&utm_source=Facebook&fbclid=IwAR1FhjF46nataTqV9-oVSMVdOIWNyCpSjlhmIpa0F2nTZw6zByWsQM6bJUw#Echobox=1574202865

A lengthy CN strike could hit country hard, with no remedy available from Parliament

Commodities could sit at source, manufacturing could slow for lack of incoming fuel and prairie provinces could end up at a standstill

[Anonymous]

I wonder if the federal government will force them back to work.

He needs the support of the ultra prog parties, so not a chance.

Than I hope they company and the union reach a settlement.

[Anonymous]

A long strike is bad news.



https://business.financialpost.com/transportation/rail/a-lengthy-cn-strike-could-hit-country-hard-with-no-remedy-available-from-parliament?utm_term=Autofeed&utm_medium=Social&utm_source=Facebook&fbclid=IwAR1FhjF46nataTqV9-oVSMVdOIWNyCpSjlhmIpa0F2nTZw6zByWsQM6bJUw#Echobox=1574202865">https://business.financialpost.com/tran ... 1574202865">https://business.financialpost.com/transportation/rail/a-lengthy-cn-strike-could-hit-country-hard-with-no-remedy-available-from-parliament?utm_term=Autofeed&utm_medium=Social&utm_source=Facebook&fbclid=IwAR1FhjF46nataTqV9-oVSMVdOIWNyCpSjlhmIpa0F2nTZw6zByWsQM6bJUw#Echobox=1574202865

A lengthy CN strike could hit country hard, with no remedy available from Parliament

Commodities could sit at source, manufacturing could slow for lack of incoming fuel and prairie provinces could end up at a standstill

One in five Canadian jobs is dependent on international trade and a lot more still on interprovincial trade. This is the first big test of this new minority parliament. I want to think that Trudeau will put the nation's economic interests ahead of selfish political considerations, but it's Trudeau we are talking about. Like Fash said, our hope lies in a settlement.

[Anonymous]

This is what Herman was saying.



CN Rail strike and bad weather causing 'toughest year ever' for B.C. grain farmers

Half the crops still in the field, other half can't make it to market, says farmer

https://www.cbc.ca/news/canada/british-columbia/cn-rail-strike-and-bad-weather-causing-toughest-year-ever-for-b-c-grain-farmers-1.5365460">https://www.cbc.ca/news/canada/british- ... -1.5365460">https://www.cbc.ca/news/canada/british-columbia/cn-rail-strike-and-bad-weather-causing-toughest-year-ever-for-b-c-grain-farmers-1.5365460

[Anonymous]

This is what Herman was saying.



CN Rail strike and bad weather causing 'toughest year ever' for B.C. grain farmers

Half the crops still in the field, other half can't make it to market, says farmer

https://www.cbc.ca/news/canada/british-columbia/cn-rail-strike-and-bad-weather-causing-toughest-year-ever-for-b-c-grain-farmers-1.5365460">https://www.cbc.ca/news/canada/british- ... -1.5365460">https://www.cbc.ca/news/canada/british-columbia/cn-rail-strike-and-bad-weather-causing-toughest-year-ever-for-b-c-grain-farmers-1.5365460

Same here too.

[Anonymous]

This is what Herman was saying.



CN Rail strike and bad weather causing 'toughest year ever' for B.C. grain farmers

Half the crops still in the field, other half can't make it to market, says farmer

https://www.cbc.ca/news/canada/british-columbia/cn-rail-strike-and-bad-weather-causing-toughest-year-ever-for-b-c-grain-farmers-1.5365460">https://www.cbc.ca/news/canada/british- ... -1.5365460">https://www.cbc.ca/news/canada/british-columbia/cn-rail-strike-and-bad-weather-causing-toughest-year-ever-for-b-c-grain-farmers-1.5365460

Same here too.

We've  had too much rain and snow in Alberta.

[Anonymous]

Another reason Justine won't order CN back to work: it hurts the West the most.

https://scontent.fyyc2-1.fna.fbcdn.net/v/t1.0-9/s960x960/75550448_2596312897250786_284603207550763008_o.jpg?_nc_cat=101&_nc_ohc=_A0OjuJzUygAQktY8V-WAYrn6nwWoMXmbjmwIwHstRupciNASNsCHUgVg&_nc_ht=scontent.fyyc2-1.fna&oh=5bb7f984bd5d66f2b995c442b9a658c5&oe=5E4843BE">

[Anonymous]

Another reason Justine won't order CN back to work: it hurts the West the most.

https://scontent.fyyc2-1.fna.fbcdn.net/v/t1.0-9/s960x960/75550448_2596312897250786_284603207550763008_o.jpg?_nc_cat=101&_nc_ohc=_A0OjuJzUygAQktY8V-WAYrn6nwWoMXmbjmwIwHstRupciNASNsCHUgVg&_nc_ht=scontent.fyyc2-1.fna&oh=5bb7f984bd5d66f2b995c442b9a658c5&oe=5E4843BE">

A prolonged strike could push us into recession this quarter. Growth is expected to fall anyway.

[Anonymous]

Quebec doesn't want Alberta's petroleum products, but because of the CN strike they have five days left of propane. I hope they have blizzards and record cold.