Mr. Poloz himself bent over backwards in his
last Monetary Policy Report to not use that term — even though the Bank's own numbers (projecting negative GDP growth for both the first and second quarters of 2015) suggested a recession was indeed already underway. Instead,
public officials are normally sanguine and rose - coloured in their
public pronouncements, hoping to incrementally shift consumer confidence with their cheeriness, and thus spark more spending. [A ridiculous extreme of this approach was provided when George Bush blithely encouraged Americans to go shopping in the days after the 9 - 11 terrorist attacks.]