How is the Canadian Economy?

[canfra]

How is the Canadian Economy at the moment? Here in Europe and in France in particular the things are not going so well and I am curious what you think about the Canadian economy because I see on the news what is going on in the States....

[trent]

I don't think the Canadian economy is in better shape compared to the US one. We are just a few months behind as usual, and the same banking and credit crisis will hit here, once we see 10-15% more decline in Canadian real estate prices.

[Steven]

Things don't look good to me. Harper is talking about running deficits, the forecasts are that unemplyment will increase above 7%. These are not good developments.

[annof]

I still don't want to believe it but I know it will hit us hard. Next year will not be good for Canada....

[trent]

You better believe it, because it's already happening. I'm hoping to see a lot of bakruptcies from Canadian retailers who have gouged us for years with their ridicolously high prices.

[sunshine]

Originally Posted by annof

I still don't want to believe it but I know it will hit us hard. Next year will not be good for Canada....

Look around. Don't you read newspapers? Next year will be even worse than this year. The impact from the US markets crash will deepen. Canada does around 70% of her export to US and with the corrections that Obama wants to make on the North American Free Trade Agreement I think Canada will feel this really bad!

[Canadian]

I also think that next year, will be worse than this year. I just hope that unemployment doesn't go too high, or things can get really ugly.