Recession
But as others are already seeing an end to this recession and America is still deep in it all, it is also obvious that others can recover from recession a lot easier.
US dollars are missed as you are teh world's largest importer of other people's resources.
However, as that money dries up, others trade amongst themselves and recover their initial losses. Meanwhile, America just asks others for more at lower prices and has no way of recovering themselves without a lower cost of their imports helping ease the burden.
We saw a small dip in new housing in the beginning of the year, ut I can tell you first hand, our builders and installers simply can't keep up with demand again now. Rule of thum here now is , if you are too busy just raise your prices and do fewer jobs for more money instead.
It's a pretty good boom in the Canadian West again now. Not too many people were laid off in speculation of hard times, business recovered very well and the Canadian dollar isn't doing too bad.
Plenty of employment to go around, good wages being paid and plenty of business, not too much of a hardship for us anyway.
You have to remember our financial instututions, loans and mortgages are designed differently than your own too, we didn't see nearly as bad financial losses as you did in the US. That's why the US is now modelling their financial system rebuilding plans upon our own. Our banks have now become a global paradigm.
