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THE HERALD Wednesday October 17 ISM Page Turner backs Federal economic policy The word It means recession For economists the definition of recession is when the economy shrinks for six months a row instead of growing And after eight years of growth it looks like that s exactly what s happening For working stiffs recession means the chances of losing your job are greater Certainly we ve been hearing about that with layoffs at Air Canada and Imperial Oil There are probably more to come The economy is slowing down and things are cooling off Houses are harder to sell and cheaper Car markers have to offer great deals to lure customers he construction in dustry is grinding to a halt Nobody likes to this stuff including me I the last recession coming back in 1981 I was a journalist and each day I wrote about all the new job losses Then the federal government decided to keep interest rates low and let inflation grow believing thit would help keep recession away It didn t work Inflation finally raged out of control at about 14 and the only way to fight it was with interest rates at over 20 For me the whole thing erupted with a protest I led against 22 mortgage rates on Parliament Hill Eight years ago I faced in not gear preventing me from entering the Parliament buildings Now as an MP I have to ask myself if this government has any better answers than the last one Well the master plan right now is to keep interest rates high enough that inflationary pressures drop Then we can avoid a boom bust cycle At least that the theory The trouble is know ing when the economy is slowing so it can grow again later in a inflationary way and when it is plunging Then are certainly critics out there blaming the evil Tones for the which are being and will be last And the fact that oil prices doubled since the Persian Gulf crisis cert doen t help things I m not Irving to tell you anybody has all the And we don know for sure thit the feet of the GST will be next It could hurt raising too much On the other hand it might be lime to bring in the t because i slow economy would force businesses to pass through savings from of the three existing Church supper Knox Church an beef dinner will be held tomorrow with three sittings scheduled at the church s location on Main St in Georgetown ickets for the tinner been set at SO for adults while nil be been children undtr Sitting tin scheduled for 7 Seniors club holds bazaar Ihe ink Seniors kit will Ik holding its is iaar white libit from to it St Church Hill on Mount view Kind South indeorLt town I will bt Hilton Hills resitknls in urged attend Say I saw it in The Herald invisible taxes Nobody Knows for sure but also nobody is purposefully try to damage the economy or take people jobs away from them So there no pleasure seeing a local real estate franchise close its doors because the housing market has stalled But on the other hand many years of boom times have resulted in real estate prices which all but shut first time buyers out of the market And that snot right either Last week the feds came under attack from all sides The Opposi lion MPs were demanding the government change its policies lower rates give in to inflation and spend money to protect jobs At the sime time major business groups including the Chamber of Commerce were insisting that Ottawa freeze its spending for two years which would have the effect of reducing social pro grams by almost 10 over that time And everybody thinks they ve got the magic solution Well economics don t go on growing forever The times when jobs are lost real estate prices fall and factories shut down due to high inventories those times will always come It s how a government manages the down times that matters So I expect interest rates will stay high but gently decline I bet we see more companies try to get lean and mean so they can keep on making money You can guarantee that Ottawa will be blamed for all of this because people want something to yell at when times are tough But 1 don t think Michael Wilson should cave in If he were to avoid recession by lowering in rates and printing money we d just be delaying the in evitable In fact as was the case 10 years ago we d made the in worse Yeah I know more talk from me about doing what right in stead of what s popular But wait for the next word Recovery NutriSystem was reliable Thats the only way I could have lost 91 lbs I pined this program with high expectations And NutnSystem really lived up to them The counselors were warm and caring They even called me at home to see how I was doing I knew I could depend on them to be there forme if I needed them From the beginning I knew NutriSystem would work for me And it did They re my best friends Try the NutnSystenf CraveFree Weight Loss Program that includes a variety of delicious meals and Craving Control snacks nutritional and behavioral counseling light activity and weight maintenance Dont Wait Call Today Our client Stephanie Sheidler lost 91 lbs We Succeed Where 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