Thank you for that. It's helpful.
Mr. Page, part of the starting point that we don't necessarily address here is perceptions on the health of the economy, in that when the onset of the great recession came, there were different perspectives as to whether we were headed into a recessionary time or a not recessionary time. In the first budget that was brought out, that was then essentially rescinded. It was an austerity budget and then it became a budget for investment.
At the top of your presentation, you listed a number of indicators you're looking at with regard to the Canadian economy that leave you with some doubt or some serious questions about the strength and health of the Canadian economy. The reason I'm asking about this is that we don't take this first starting point very often: how strong is the Canadian economy today and how is it trending? That would then lead one to conclude, if you're listening to the evidence, as Mr. Speer says, not just from you but from the econometrics themselves....
You've mentioned a number of things. It left me with the impression that you're not feeling overly enthusiastic or confident that the Canadian economy is in a good and improving situation. Am I characterizing your testimony correctly?