A column from the Sun today, http://www.torontosun.com/money/columnists/linda_leatherdale/2008/09/11/6732271-sun.html
I’ve heard several doom and gloom predictions over the past year very similar to what Linda’s saying, from local businessmen and from economic professionals.
When I was in Northern Ireland and Scotland a few months back, the housing market was dropping like a stone, the economy in general was on its way down. In fact the whole EU is in a down turn cycle.
Canada has 0.5% of the world population, with 2.3% of the worlds GDP, no matter how important we feel we are, we are irrelevant to the vast majority of the world economically. China has cities with a greater population then our entire country.
The credit crunch south of the border is coming to bite us in the rear end very soon. We’re just along for the ride folks.
I don’t care who the PM is, we’re going to get hit hard. Increasing taxes and increasing the price of goods, is not the thing you do in an economic downturn.