Quote:
Originally posted by MonkeyMan
Even if we go into a recession (in technical terms; 2 quarters of GDP decline) I'm honestly not that worried. The GDP numbers which are negative are marginally so (like -0.2%, etc.). It is based solely upon the oil industry and it is largely regional. For sure Alberta is getting the brunt of it. But it is no way comparable to the 2008 Financial Crisis. Also, thankfully the U.S. is doing well and will hopefully bring us up shortly.
TL;DR it's not that big of a deal if we do enter a recession.
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What makes you think the US is doing well?
Our economy is built on a house of cards right now.
We are adding jobs but not good jobs, a lost $60 an hour job is replaced with 4 $10 an hour service jobs. In other words the quality of the jobs created does not match the quality of the jobs that were lost.
Plus the Fed is planning on increasing the interest rates, probably in the fall. That's going to slow things down a bit.