In addition, there is uncertainty about the extent and duration of the tightening of credit conditions in Canada and, hence, about the tempering effect this will have on the growth of domestic demand. Conclusion Let me conclude. Dislocation in financial markets is not easy to deal with, and it is certainly not welcome.
I will focus my remarks today on two economic issues that challenged us in the 1970s and that still do so today – energy and productivity. These, obviously, are not the kind of topics chosen by many recent Class Day speakers – Will Farrell, Ali G, or Seth MacFarlane, to name a few.