financial/economic crisis in Canada

[Zephyr]

Do you think Canada will be hit worse by the financial/economic crisis comparing to US? If yes, why?

[Canadian]

Originally Posted by Zephyr

Do you think Canada will be hit worse by the financial/economic crisis comparing to US? If yes, why?

I think the Canadian recession will be of the same magnitude as the US one. Maybe a little worse, but not much. Don't forget that Canada had 27% unemplyment at the height of the Great Depression, while US had "only" 25%

[bullish]

Originally Posted by Canadian

I think the Canadian recession will be of the same magnitude as the US one. Maybe a little worse, but not much. Don't forget that Canada had 27% unemplyment at the height of the Great Depression, while US had "only" 25%

I think you are making up these numbers! Where did you get them from? I believe the unemployment in Canada was much lower during the Great depression.

[Canadian]

Originally Posted by bullish

I think you are making up these numbers! Where did you get them from? I believe the unemployment in Canada was much lower during the Great depression.

I guess you believe in fairy tales too? Here is my source, and before speaking next time, try to do a little research and don't waste everybody's time:

http://www.canadianeconomy.gc.ca/Eng...epression.html

[Steven]

I didn't know that the unemployment in Canada was higher than US during the great depression. This is very worrisome fact if you ask me.

[heyjude]

Originally Posted by Canadian

I think the Canadian recession will be of the same magnitude as the US one. Maybe a little worse, but not much. Don't forget that Canada had 27% unemplyment at the height of the Great Depression, while US had "only" 25%

These numbers are very distressing. I hope we are not heading for another Great Depression. I know that in the States a lot of people lost their jobs and more will. The unemployment is already high. Everyone is keeping their hopes on Obama to miraculously fix everything…

[Canadian]

Originally Posted by heyjude

These numbers are very distressing. I hope we are not heading for another Great Depression. I know that in the States a lot of people lost their jobs and more will. The unemployment is already high. Everyone is keeping their hopes on Obama to miraculously fix everything…

I don't think we are headed for Depression, but a very severe recession yes. Obama can't fix anything, only free markets can.

[trent]

I hope that it will be a little better here in Canada, compared to the US, but I doubt it. Saving anything you can is the order of the day.

[Canadian]

I've been saving for quite a few years now, but it's never enough.

[Steven]

The main thing that worries me is job security. If we have enough jobs, it will be easier to get through this. If on the other hand, we see significant job losses, the economic downturn will only get worse.