by Brian Smeenk
Wall Street has seldom been in such disarray. There are bank and insurance company failures the likes of which we haven’t seen since 1929. The credit markets have been in disarray for months. The federal government rescue packages will significantly affect the deficit. Many are predicting a recession in the USA. How has this and how will it affect business and employment in Canada?
Although the Canadian and U.S. economies are inextricably linked, you’d never know it by looking at recent statistics. Despite the fact that American investors have historically been central to helping generate economic activity in Canada, there seems to be little evidence so far that the financial and housing market problems in the United States have slowed the Canadian economy.