how will Canada fare if global economy collapses?

Discussion in 'Economics' started by Optional, Nov 25, 2008.

  1. Just wanted to hear some opinions on how commodity based countries will fare if the global economy suffers. Will Canada suffer worse than the USA?
  2. PaulRon


    hell no! usa's going to suffer THE WORST
  3. Interesting question. How did Canada do in the Great Depression?
  4. We were brushing our teeth with gold toothbrushes and wiping our asses with (U.S.) 100 dollar bills, it had no effect on canada.
  5. Canada appears to be much more fiscally responsible than the US and Europe so they will not be as bad off. This comes from all that I have read and my Canadian friends.

    As I recall the US is Canada's #1 trading partner so they will be hurting. Additionally Canada benefited greatly from the oil boom and will be hurt from the massive drop.

    I have thought a lot about depositing most of my money in Canadian banks but they currency fluctuation with oil make it problematic.
  6. Daal


    I want to see when the commodity price decline start to affect bank loans, bankruptcies and stuff like that. then we will see how Canada will do
  7. I guess we'll have to nationalize our hockey teams.
  8. Canada is a significant part of the global economy. If the global economy collapses, by definition Canada's economy will collapse as well.

    So is that really the question you are trying to ask?
  9. How will CAD do vs. USD ?
    #10     Nov 25, 2008