A roller coaster: You go way up, then down really fast, up again and down really fast, and continue like that until your lunch has been turned into a milkshake and your hair looks like it was styled inside a blender.
A double recession: Your job security, financial stability and local economy go way up, then down really fast, up again and down really fast, until your monthly budget has been turned into a milkshake and your peace of mind looks like it was styled inside a blender.
Me? I’d pick the roller coaster because I can always make another lunch and I already style my hair inside a blender.
You? I bet you’d pick door number one as well.
Too bad for us though if we live in Canada or the US. The US economy is sputtering (it makes almost the same sound as an eight-cylinder engine working on three and with the wrong fuel) and many provinces in Canada are highly dependent upon US strength to be strong themselves.
Take Ontario and Quebec, for instance.
According to BMO Capital Markets stats, Ontario’s overall economy is 80.8% dependent upon the US economy. Quebec- 75.3%. (Aug. 14 issue of The London Free Press)
In other words, if the world’s largest economy tanks, and there are troubling signs that a double dip recession is in the works in the US, then trade-dependent Ontario falls harder than other places - even some US states. (Hard to believe but BMO has never been known to lie).
Why do I bring up these cheery thoughts on this lovely morning?
Oh, I have my reasons.
Stay tuned.
***
Are you saving money for tough times?
I can understand if someone says, this isn’t a good time for us.
.
No comments:
Post a Comment