What would a US economic meltdown do to Canada

As a Canadian the fears of a total US ecenomic breakdown scares me. But what I want to know is how big of a backlash would this mean for Canada.

Considering Canada is the US biggest trading partner and visa versa. I know people including professionals are prodicting total chaos in the US to the point of looting and mass riots.

What I'm wondering is this, considering our two economies are so interdependant on each other, If this meltdown actually happens could the same fate be in store for Canada?

Edit for bad spelling as usual :p

[edit on 9/23/0808 by Trayen11]

Canada is the biggest supplier of Oil to America.
So I think you can see there would be a rather huge problem if they couldnt pay for the Oil.

That's exactly what I mean our two economies are so interdependant on each other, I'm actually pretty worried that what happens in America if the market falls we will see a mirrior image of those effects here in Canada.

Less spending money by the population of the US could seriously affect the beer imported from Canada.

We'd still have to pay for gas but forget about those beers with the moose on them.

You know it's a depression when you have to think about what beer to buy.

Well its not just Canada though its the whole world pretty much.
Some country's will be worse off than others but Generally the world will be rather broke.
Who's China going to export there stuff to?

reply to post by Interestinggg


Excellent point you make there, I was just referring on a more presonal note. But yeah, if this actually comes to pass the world in general will feel the effect. But like you said, what about china, and then there is britian, france, germany, damn the list goes on and on.

It's amazing for the amount of people around the globe that love to bash the US, its amazing that most likely thier economies future rests on the us just like the rest of us. That has to be alot of pressure on some peoples shoulders.

Interesting thread.
I myself as a Canadian have thought about this too. We need to take action to ensure that it doesn't spread up here. I would say we need to increase trade and interdependence with over-seas countries especially in Europe, and decrease our dependence on the states. At the same time, withdraw all forces from Afghanistan and place significant amounts of military along our boarder, just in case.
I do not believe that the United States Economy could just "collapse" over night, in the same way something like a Nuclear Embargo would cause. I just think things will get worse, people will continue to not be able to pay their mortgages, and prices will rise. Move all your money to Canadian banks, and put your investments in Canadian and over-seas companies. We're bound to meet the same fate as the south if we keep so closely linked.

reply to post by Trayen11

Excellent post Trayen11, I believe it is the first post that I have read that actually askes the question of what happens to another countries economy and people because of another countries greed and lust for power, it is a shame that the US has caused this Global Economic Meltdown and not one post asking what is the rest of the world going to do because of what we have done, but back to your original OP, the old SH#$ leaf doesn"t fall far from the SH#$ tree, we're screwed.

reply to post by Trayen11


Well, one thing to keep in mind during this debacle is the North American Union. I think it is a real possibility that this collapse may have been engineered to finally bring about the NAU.

If that is the case, the collapse of the US would be especially disastrous for Canada. They would essentially be absorbed into the US and the same corrupt idiots that brought down the US would then have access to Canada and all of its resources.

Canadian and European officials say they plan to begin negotiating a massive agreement to integrate Canada's economy with the 27 nations of the European Union, with preliminary talks to be launched at an Oct. 17 summit in Montreal three days after the federal election.

www.theglobeandmail.com...

Interesting

maybe there is no lie when they say there is no NAU

Perhaps this is where we all join the EU and that's the real reason they expect riots