Canada's fate in the US economic meltdown

[avesta]

What do you guys think? How is Canada affected? Is it or will it be affected?

As far as I know, Canada's biggest trading partner is the US by far. What is gonna happen though? The Americans are obviously gonna cut back on spending after this 700B bailout package.

Does this equate to lower trade revenues for Canada? And what about the devaluation of the US dollar? How does that play into this scenario?

[Chukada1]

Nova Scotia power will charge us an 18 percent increase in the comming month. monopolies.

The U.S economic downturn will make our lives easier. When the American dollar falls in worth, we will have a leg up in American dealing. I just don't know why we're so connected to the American market, China is the way to go.

[Erik]

The U.S economic downturn will make our lives easier. When the American dollar falls in worth, we will have a leg up in American dealing. I just don't know why we're so connected to the American market, China is the way to go.

It will be cheaper to buy stuff, yes.
But at first, it will also be harder to sell stuff.
And yu need both to survive.

On the long run, Canadians will take over part of the consumption that Americans cut.
As will the Chinese.

But on the short term, you can expect some hard times (people loosing jobs, companies going under, etc) as the world economy adjust to the new situation.
A "soft landing" of the US economy as opposed to a rapid decline would have been much better for the rest of the world.

[Zephyrus]

Oh dear god, perish the thought! America NEEDS its partner Canada! How are you gunna let a brutha down when he's got heat seeking for him every which way? We'll even trade in our dollars in order to stick with your currency, just please don't leave us alone! Mounty currency will most definitely be embraced by the average american consumer, the republicans will definitely see to that-*Transforms into Gollum* No, the Precious musn't! We swearz...b-b-by the Precious!

In case my LOTR crack wasn't enough to register the immense lack of confidence in the Canadian ability to do anything without USA, let it be henceforth known that we are unconcerned with Canada's fate, and deem either its fall or rise a small matter indeed. When the has Canada given anyone cause for alarm, really?

[OTZ]

In case my LOTR crack wasn't enough to register the immense lack of confidence in the Canadian ability to do anything without USA, let it be henceforth known that we are unconcerned with Canada's fate, and deem either its fall or rise a small matter indeed. When the has Canada given anyone cause for alarm, really?

The ignorance and utter lack of understanding is mind boggling.

Why do we allow free speech again?

[Captain Arrrgh!]

Oh dear god, perish the thought! America NEEDS its partner Canada! How are you gunna let a brutha down when he's got heat seeking for him every which way? We'll even trade in our dollars in order to stick with your currency, just please don't leave us alone! Mounty currency will most definitely be embraced by the average american consumer, the republicans will definitely see to that-*Transforms into Gollum* No, the Precious musn't! We swearz...b-b-by the Precious!

In case my LOTR crack wasn't enough to register the immense lack of confidence in the Canadian ability to do anything without USA, let it be henceforth known that we are unconcerned with Canada's fate, and deem either its fall or rise a small matter indeed. When the has Canada given anyone cause for alarm, really?

The many fine Americans I talk to on other forums would think you a knucklehead for such a silly remark. Do you actually understand what's going on?

[Thanatos]

Oh dear god, perish the thought! America NEEDS its partner Canada! How are you gunna let a brutha down when he's got heat seeking for him every which way? We'll even trade in our dollars in order to stick with your currency, just please don't leave us alone! Mounty currency will most definitely be embraced by the average american consumer, the republicans will definitely see to that-*Transforms into Gollum* No, the Precious musn't! We swearz...b-b-by the Precious!

In case my LOTR crack wasn't enough to register the immense lack of confidence in the Canadian ability to do anything without USA, let it be henceforth known that we are unconcerned with Canada's fate, and deem either its fall or rise a small matter indeed. When the has Canada given anyone cause for alarm, really?

You know, it's because of stuff like this people around the world hate us? Good job, contributing to that.

[Zephyrus]

You know, it's because of stuff like this people around the world hate us? Good job, contributing to that.

If you happened to be French, I'd agree wholeheartedly. Be that as it may, Canada phails to arouse my interest or curiousity in its connection with the economic meltdown.

[Thanatos]

If you happened to be French, I'd agree wholeheartedly. Be that as it may, Canada phails to arouse my interest or curiousity in its connection with the economic meltdown.

Just because you don't think it's important does not make it so.

[Zephyrus]

Just because you don't think it's important does not make it so.

Yes, it does.

[Zephyrus]

Off-Topic.Noble Savage

The many fine Americans I talk to on other forums would think you a knucklehead for such a silly remark. Do you actually understand what's going on?

Apparently not. However, the OP assumes that Canada has a say in America's economic crisis. I retorted with an example of what's known in some circles as "extreme sarcasm". The rationale behind this is that Canada's fate in the American crisis is negligible to the American populace

[Da Skinna]

Edited quote.Noble Savage






Anyways, it's all interconnected, even banks in Europe and Asia. We're all going down. Just wait.

[bigfootedfred]

http://www.veoh.com/videos/v1066540a7Cd2wpT



that will be canada's fate.

[Crimson Scythe]

Many of the Canadian goods going south of the border aren't end-products, but rather component products. Natural resources are a big one. Most of those get used in one manufacturing process or another, and the end result is often exported back to Canada (well, some parts of it). While the price of those manufactured goods will go up, the increased value of the Canadian dollar will likely balance it out in the long term (short-term, though, there will be some problems). It all depends on how long the US weakness lasts, and whether it's a permanent weakness or a passing one.

[Da Skinna]

Oh yeah, the SPP.... funny one that one is.

[bigfootedfred]

Oh yeah, the SPP.... funny one that one is.

It will be presented as the 'solution' to the problem created for just that reason.
While the working and middle classes sink in a mountain of debt

[Viking Prince]

A big question is how foolish have your banks, insurance companies, and pension funds been? If they have bought their fair share of the toxic waste, the slide has already been greased for your descent.

[OTZ]

A big question is how foolish have your banks, insurance companies, and pension funds been? If they have bought their fair share of the toxic waste, the slide has already been greased for your descent.

Our banks and insureance/investment companies are very well insulated from the garbage that Wall Street has been peddling. There are some that have had bigger exposure than others. I work in the investment side for one of Canada's largest Insurance/Investment companies and we have next to no exposure to the credit crises. Some of our competitors aren't so lucky - but even for them it's limited.

Our banks are centralised, tightly controlled, and fiscally conservative. It's been a VERY long time since a Canadian bank has failed.

Our economy is rooted in commodities - and that is what will hurt us the most. Wehn the US economy shrinks, so will Canada's exports.

Our housing market is just starting to come down from it's metoric rise - but it has nothing to do with a "credit crunch". It's more to do with overambitous agents pushing the market up beyond a reasonable level.

We are doing away with 40 year mortgages, and IIRC, Zero-Downs as well.

The economic collapse (or bailout - whichever comes first) of the US will hurt us, but we'll get by ok. We certainly won't have a ballooning population of sub-poverty citizens though, nor will we see a proportionate number of foreclosures (well, maybe in Calgary, lol).

Apparently not. However, the OP assumes that Canada has a say in America's economic crisis. I retorted with an example of what's known in some circles as "extreme sarcasm". The rationale behind this is that Canada's fate in the American crisis is negligible to the American populace

Your reading comprehension is still at a Grade 8 level. The OP said nothing about an "having a say" in the crisis. The questions relate to the impact of your nationa's economic collapse on our economy - not vice versa.

[Zephyrus]

What do you guys think? How is Canada affected? Is it or will it be affected?

As far as I know, Canada's biggest trading partner is the US by far. What is gonna happen though? The Americans are obviously gonna cut back on spending after this 700B bailout package.

Does this equate to lower trade revenues for Canada? And what about the devaluation of the US dollar? How does that play into this scenario?

That's the OP.

Your reading comprehension is still at a Grade 8 level. The OP said nothing about an "having a say" in the crisis. The questions relate to the impact of your nationa's economic collapse on our economy - not vice versa.

Perhaps I'm using too many big words. Let me try communicating to you at a level you can understand. The Canadian economy IS dependent on the USA's economy. Which is why I pointed out that the ripple effects emanating from the financial crisis and affecting canada, will not affect the USA with anything that would cause major concern.

If you still happen to find yourself unable to understand the lines of text, I'd suggest the nearest Lenscrafters.

[Scar Face]

Perhaps I'm using too many big words. Let me try communicating to you at a level you can understand. The Canadian economy IS dependent on the USA's economy. Which is why I pointed out that the ripple effects emanating from the financial crisis and affecting canada, will not affect the USA with anything that would cause major concern.

If you still happen to find yourself unable to understand the lines of text, I'd suggest the nearest Lenscrafters.

Yet again, stop trying to be funny. Yet again, you might want to try actually reading the god damn thread. The OP did not say "How will Canada effect America", but rather, "How will America effect Canada".