Economy lost 68,000 jobs in May Stagflation is U.S. economists’ biggest fear, SIFMA says Keywords Economic forecasts James Langton Share this article and your comments with peers on social media OECD raises outlook for Canadian economic growth this year Both countries, the report states, “face the grim fallout from the simultaneous end of the commodity supercycle and their own debt supercycles.” Factors such as weaker currencies, favourable demographics, and strong banking systems “will soften the blow”, yet the report concludes “a recession in both economies is now more likely than not.” The deleveraging process has barely begun in Canada and Australia, the report notes, and “the mere stabilization in the ratio of private sector non-financial credit-to-GDP would imply a highly negative credit impulse in both countries.” “To make matters worse, not only do Canada and Australia face the end of their own respective debt supercycles,” the report states, “but they must also reckon with the fallout from the end of the commodity supercycle.” Against that outlook, “investors should underweight Canadian and Aussie equities,” the report advises, “and position for possible further policy easing from both the Bank of Canada and the Reserve Bank of Australia.” Canada faces a decent chance of falling into recession, warns Montreal-based BCA Research. The independent investor research firm singles out both Canada and Australia as likely heading toward recession, in a report published Wednesday. Related news Facebook LinkedIn Twitter
georgejurasek/iStock(NEW YORK) — One school district in South Carolina has gotten rid of snow days. In fact, they’ve done away with all inclement weather days altogether.The change is part of a pilot program for the 21 schools in Anderson School District Five as well as four other South Carolina school districts: Spartanburg 1, Spartanburg 7, Pickens and Kershaw.Anna O. Baldwin, director of eLearning and integration for Anderson School District Five, told ABC News’ Good Morning America the kids use Chromebooks to receive their lessons on days when schools have to close for inclement weather.“The goal is to keep students learning, even when the weather prevents schools from operating,” she said. “An eLearning day is very similar to a normal school day.”Baldwin said the idea was championed by the district Super Intendant Tom Wilson.“He was visiting family in Georgia last winter and saw that a district was going to have an eLearning day and all other districts would be closed due to inclement weather. It was his vision and the financial investment of a Chromebook for all of our students K to 12 that sparked pursuing an eLearning Day for our district,” she said.The district has already experienced a school closure.“Overall, our parents and students were positive about the eLearning Day pilot,” Baldwin said.Cathy Tims, a parent in the district, told GMA she was in favor of the idea.“I personally really like the idea. The kids can do their school work from home and parents don’t have to worry about whether their kids are safe or not. We also don’t have to worry about how we are going to take them to school and pick them up if weather changes,” she said.Snow and inclement weather days may seem like a right of childhood passage, but Tims said her kids weren’t too bothered by the change in policy.“At first they didn’t like the fact of having to do school work at home, but after they finally had to do it, they realized it was much better to do the work in the convenience of home, than at school. So they like it much better now,” Tims said.The upside for the kids is that they don’t have to make up any days at the end of the school year.“When we have make up days at the end of the school year, students are just making up time,” Baldwin said. “Typically, student attendance on inclement weather make up days is very low.”Copyright © 2018, ABC Radio. All rights reserved.
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