CMC-BC in Toronto

We were pleased to welcome Russ Grabb, CMC, President of CMC-BC, to our offices in Toronto today.

In addition to some important CMC-Canada business, Russ joined CMC-Canada Chair, Lynn Bennett, FCMC, and myself for lunch at the Economic Club of Canada, where Austan Goosbee, Professor of Economics, University of Chicago's Booth School of Business, and Chairman, President Obama's Council of Economic Advisers, shared his views of the global economy.  Frank McKenna, Vice-Chair of the TD Bank Financial Group and former Premier of New Brunswick, questioned Goosbee following his introductory comments.

We were honoured to be hosted by our friends at CMA Ontario - CEO, Merv Hillier, CMA, CMC, and Director of Post Professional Programs, Michael Kulbak, CMA.

Goosbee was a dynamic speaker - mixing stories and parables into his speech - to allow us to more easily understand some of the complex issues facing Europe and the US today.

The good news is that he expects the North American economy to show signs of strength within 18-24 months.  The bad news is what we have to go through in the next 18-24 months....until we get to the light, at the end of the tunnel.

Goosbee admitted that Canada is in a preferred economic position, vis a vis the US.

Despite this better than bad news, I think it is my duty to remind everyone of an old quote from our former Prime Minister, Pierre Elliott Trudeau, who said,  "living next to you (US) is like sleeping beside an elephant, no matter how friendly and even-tempered the beast, if one can call it that, one is affected by every twitch and grunt."

I hope we aren't impacted by every twitch and grunt in the next 18-24 months.