Could the U.S. drag Canada into a double-dip recession?

The economy in Canada is no big barrel of fun. There are exceptions ... my company has doubled in size in the last 2 years and is on very sound footing and very profitable. We also understand what's coming down the pipe.

US is Canada's biggest customer, so it's going to hurt. But we have become, in great part, a resource exporter and there are a lot of coutries that need what we have.

Lots of square footage, low population, stable banking regs, must-have raw materials ... Canada will be one of the last countries standing.

I also think Russia will fair well, for many of the same reasons - especially if Putin runs again in 2012. I love that guy. No nonsense

reply to post by area6


what double-dip recession? you mean depression,we are already in a depression.

The economy in Canada is no big barrel of fun. There are exceptions ... my company has doubled in size in the last 2 years and is on very sound footing and very profitable. We also understand what's coming down the pipe.

I assume by that statement that your rich since you own a company a depression wont be hurting you sadly i have seen alot of Canadians out of work and seeing people even beg to work, i felt sick after i have seen that while i live here.

reply to post by Agent_USA_Supporter


Who said double dip? I agree it's a depression - numbers are fudged beyond belief, especially when you factor in under-employment. I know so many people that have been under-employed for years it's freaking ridiculous.

System is long overdue for a reset. It will occur. Speculative capital will be purged. Haircuts will be handed out en-masse.

Edit: Agent USA ... Yeah, I don't like what I've been seeing the last many years in Canada - saw the housing bubble in '02. I will say, we have good people, they work hard. We take good care of them - unlike many companies unfortunately

When the collapse comes it will drag the whole world with it, not just Canada.

Thre crisis in Europe has so far been largely hidden, Greece was nothing compared to Italy and Spain, and they've barely disclosed anything about how big those problems really are.

reply to post by AGWskeptic


Italy is going to be ug...ly

Lamborghinis ... $6 grand
Versace suits ... $15 bucks

We will probably have some issues this next winter. We buy fruits & veggies from the garden state, texas and az
but the south has been cooking for some time now. Many crops have been lost.
As for the money issue i guess many countries will stop this debacle coz everything is tied together...they did have the weekend to think it over also...but im not an expert, i only work in the food industry.

reply to post by area6


The real kicker is the lack of jobs in my area. I have a University education and work minimum wage at a convenience store..at 25, I feel the younger generations -mine and younger- are desperately attempting to grasp the few straws left..
Are you hiring?

Canadians are so self-centered. Ever met a canadian? Of course you have, because they tell everyone they see they are from Canada. And then they will talk about it for as long as you know them. "Did you know I'm from Canada?" "Yeah, you've told me 50 times already."
The important question is "Could the U.S. drag the world into a global depression?"

reply to post by StripedBandit


We are hiring a few more people that we know - buying small competing companies actually.

My best advice is to find a small to medium sized private company that's doing well and prove yourself to them. Work for free ... "intern" if you will. Good companies can't afford warm bodies ... they want solutions to problems, they want to hire known quantities they know can move them forward.

Originally posted by Ghost375
Canadians are so self-centered. Ever met a canadian? Of course you have, because they tell everyone they see they are from Canada. And then they will talk about it for as long as you know them. "Did you know I'm from Canada?" "Yeah, you've told me 50 times already."
The important question is "Could the U.S. drag the world into a global depression?"

edit on 7-8-2011 by Ghost375 because: (no reason given)

Well i can tell you i stayed in Canada for six weeks.
God i didn't want to leave that place!
So they have a lot to be proud of.
I hope you Canuks are not effected for your were going to be my last refuge!
Now however if your housing market would crash like ours (US), then it would be haven.
Don't shut down the border here i come!

Yea I see how things are going, the Asian markets are opening soon as well, because of the downgrade we shall know the true extent on what Japan, an Shanghai are reporting in their markets.

reply to post by Ghost375


allright, i admit it! I want this thing to be contained within the us borders but it wont happen.
everything this Gov toutches turns into bs;countries included even the gold is disappearing.
Hell...they put protectionnists measures on lumber to build houses to be bulldozed.
But HEYYY!
HELP US! HELP US!

let's just hope it dosent sink too low so the ceos can still have their coushy millions in bonuses
at the end of the semester

reply to post by hypr2011


I say the extent is 5-7% in the red today. Just a wild guess but I think that's where it is at. Japan will be telling for sure.

Originally posted by sonofliberty1776
You guys might as well join up with us now. At least you can get your gun rights back.

No thank you.

Perhaps with the way things are going you should give things a try our way. That we are not you is a good thing.

Canadian exports are not 90% to the US. Yes the US does get a lot of oil and other natural resources (wood, beef, metals, minerals, water, electricity) from Canada. But Canada does export to other countries as well, China, AUS, S. Korea and many many others. NAFTA will effect Canada in a slight way, but when it comes down to it they have a lot of resources and many countries who will pick up the slack in trade.

So I don't see Canada taking a nose dive along with the US cause they export more than they import. Unlike the US does. I see Canada coming out stronger than most countries in the world, even if our US treasuries bonds tank.

*on a personal note, I lived in Canada for several years and loved it and loved the people so much I married one and brought her back to the States.*

Originally posted by TimesEnd
Canadian exports are not 90% to the US. Yes the US does get a lot of oil and other natural resources (wood, beef, metals, minerals, water, electricity) from Canada. But Canada does export to other countries as well, China, AUS, S. Korea and many many others. NAFTA will effect Canada in a slight way, but when it comes down to it they have a lot of resources and many countries who will pick up the slack in trade.

So I don't see Canada taking a nose dive along with the US cause they export more than they import. Unlike the US does. I see Canada coming out stronger than most countries in the world, even if our US treasuries bonds tank.

*on a personal note, I lived in Canada for several years and loved it and loved the people so much I married one and brought her back to the States.*

One thing that I feel is a big part of the problem is how the U.S. deals with it's natural resources. We don't tax the harvesting of them like most countries do. The lions share of the benefit goes to the corporation harvesting them, just look at big oil's profits. It's obscene that corp's can make that much money, and with our political system it gives them all the power.

How does Canada benefit from it's natural resources?

I know it sounds communist but the reality is that, aside from lumber, these resources are not growing back. Countries that use their natural resources effectively will weather the storm better, but I fear it will be too big to avoid entirely.

Why would it be so hard to use those resources to fund the infrastructure and military?

Strange talk from a Libertarian I know, but I don't see very many options that would avoid a total collapse of the system.

reply to post by AGWskeptic


The fact is that there are some business entities that should be paying more towards the system that enables them to exist; and yes, some profit levels are indeed obscene.

I believe its called balance. Most things work better when there is some kind of balance. Right now the world economy is way off kilter. It suits the Rockefellers of the world, but not the rest of us.

reply to post by Lightrule


Thats what I was thinking, its kinda like when your older business man brother spent his annual earnings on hookers, guns and coc aine, and inquires if your couch is free for a week.

Later he tells you his business isn't doing so well.

Soon a week is a month. And a simple couch spot turns into raiding your fridge and using your internet all day.

What do you say though- he swears his business is going to bounce back after he works on his marketing scheme.

reply to post by Ghost375


Looks like someone's got a chip on their shoulder. It's not our fault we do better than you guys.

Originally posted by TimesEnd
Canadian exports are not 90% to the US. Yes the US does get a lot of oil and other natural resources (wood, beef, metals, minerals, water, electricity) from Canada. But Canada does export to other countries as well, China, AUS, S. Korea and many many others. NAFTA will effect Canada in a slight way, but when it comes down to it they have a lot of resources and many countries who will pick up the slack in trade.

So I don't see Canada taking a nose dive along with the US cause they export more than they import. Unlike the US does. I see Canada coming out stronger than most countries in the world, even if our US treasuries bonds tank.

*on a personal note, I lived in Canada for several years and loved it and loved the people so much I married one and brought her back to the States.*

Harper isn't wasting any time. He's in South America doing trade negotiations.

www.theglobeandmail.com...

Mr. Harper has been pushing to sign as many free-trade agreements as he can to clinch preferential market access around the world and insulate Canada from growing protectionism that re-emerged with the global recession of 2008-2009. The Harper government has signed deals with eight jurisdictions since taking office in 2006.