posted on Apr, 6 2008 @ 05:35 PM
First I have to say, Canada is not experiencing the economic downturn that the US is. Period. So no one in Canada can say that "things are good in
their town or region, so there must be no economic downturn." That's the dumbest reasoning I've ever heard. The only places things are economically
depressed in Canada are places that have been economically depressed for decades, long before the current economic downturn the US is experiencing,
like Nunavut, Maritimes, etc.
Further, the only thing that could possibly construed as a downturn in the Canadian economy is the fact that since the $USD is in the crapper,
Canadian manufacturing takes a bit of a hit. Canadian manufacturing itself doesn't have to lay off all its workers like they would have you believe;
instead they just sell a couple fewer units to US customers per $USD.
The Canadian economy is stronger than it ever has been. The Canadian gov't is in a ridiculously sound place, having had a trade surplus for the past
10 years. Construction is booming everywhere. Canada still has a great manufacturing base. There are thousands of jobs waiting to be filled in the
most populous places like Toronto, Vancouver, Edmonton, Calgary. Canada isn't in the precarious situation of having to import fuel like the US is.
And to top it all off, the Loonie is doing amazing compared to the $USD. For those who don't know, the $CDN was at about $.70 USD in the early 2000s
and now it's at par.
The reason a Canadian can look around and see nothing wrong is because there is nothing wrong in Canada.
As for the US, well to try to dispute that things are worse now than they have been since the last time there was a bad recession is ignorant. Some, I
repeat SOME areas of the US are still going through construction booms and some fields still have lots of jobs to offer but this just is not the case
for most people in most job fields in most locations. To dispute that most people are dealing with drastic increases in the prices of food and fuel
(two things that for some retarded reason are not included in the government's inflation index), meanwhile they have not had an increase in their pay
since circa 2000, well that's ignorant too. One can also not dispute that not just individuals but business and even municipalities are having their
credit rating slashed off at the knees because they are unable to make payments in a timely fashion. Lenders are clamping down on credit and even
people with perfect credit scores are unable to secure home, auto, or personal loans at decent interest rates, and students are unable to secure
student loans at all.
So basically, my point is, to anyone who doesn't see a recession happening in the US, what are you effing blind??