Christopher Ragan and 2008 Financial Crisis

2008 financial crisis: Proponents list a number of factors allegedly restraining the trend of growth, including the lingering impact of the 2008 financial crisis, an aging population, and even a slowdown in the underlying rate of innovation and technological change. Economist Christopher Ragan argues that Canada governments have run out of options to stimulate the economy; others cite the uncertainty created by the unprecedented monetary and fiscal stimulus in response to the financial crisis and recession as a major drag on the recovery itself. , according to Hamilton Spectator. The United States economy is improving as the price of oil falls and the lingering effect of the financial crisis dissipates, which is typical seven years after its onset. The U.S. seems poised to return to above-trend rates of growth, as shown by a string of strong employment reports. In Canada, both GDP and employment surprised to the upside in the latest month, even as a majority of Canadians say they think the economy is in decline. The idea that we are trapped in a "new normal" of slow economic growth has gained currency with many analysts. In a recently released study by the Fraser Institute, I argue slow growth early in a recovery is not unprecedented and does not augur weak growth will continue. There is reason to believe pessimism about growth will prove to be an overreaction to the current environment, just as happened in the 1930s when the phrase "secular stagnation" was coined and 1970s. These past periods of prolonged slow growth ended when governments adopted better and more predictable policies. (www.immigrantscanada.com). As reported in the news.