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Do Bubbles Always Burst? - May 28, 2015

Pore over the endless economic verbage of the past decade, and you’d find it replete with the word ‘bubble’. In econ-speak, it’s as delicate a structure as the actual thing, meant to characterize a situation where a particular market, or at worst, the entire macroeconomy, is growing at an unsustainable rate that will ultimately see it burst. That outcome has been oft repeated, and is never pleasant. I, and others like me, are known for saying that bubbles never deflate, but always burst. It’s becoming more obvious that current conditions have given rise to various bubbles, raising concern that there may be more out there, and that their bursting may have serious consequences for growth. Will these bubbles, like others before them, blow up, or is there reason to revisit our bold past assertions?

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Peter G. HallPeter G. Hall
Vice-President and Chief Economist

Peter Hall joined Export Development Canada (EDC) in November 2004. With over 25 years of experience in economic analysis and forecasting, Mr. Hall is responsible for overseeing EDC's economic and political risk analysis, special research and the corporate library. In addition to advising senior management at EDC, Mr. Hall is a featured speaker at conferences, international roundtables and policy fora, and regularly appears in television, radio and print media commenting on the international economy.

Prior to joining EDC, Mr. Hall directed the economic forecasting activities of the Conference Board of Canada. Mr. Hall is the immediate past president of the Canadian Association for Business Economics, a 600-member national association of professional economists, and actively participates in its local Ottawa chapter. Mr. Hall has degrees in economics from Carleton University and the University of Toronto.

Stuart BergmanStuart Bergman
Assistant Chief Economist and Director, Economic and Political Intelligence Centre

Stuart Bergman has been the Assistant Chief Economist and Director of Export Development Canada's (EDC) Economic and Political Intelligence Centre since March, 2011. Prior to that, he was the Director of EDC's Economic Analysis and Forecasting unit. In his role, Mr. Bergman provides leadership and direction for a group of diverse and highly-specialized economists, political risk analysts and intelligence professionals, advising EDC business teams and senior management on transaction and portfolio risk mitigation, corporate planning and business development activities. He also serves as EDC's representative at national and international economic forums, delivers media interviews and is a featured speaker at conferences across Canada and around the world.

Mr. Bergman completed his graduate studies in International Economics and International Relations at the Johns Hopkins University School of Advanced International Studies.


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