arrr..... we ARE in a recession

I believe your assessment on the recession not lasting long might be a little optimistic. I guess you never heard the report that RBC put out this morning. The outlook is not good and I believe it will be at least three years before things start to turn around, if not more. The worst for Canada has not hit yet.

Hi,
I think that America will start to pull Canada down with it since they are so closely connected but America's recession shouldnt last too long. so no worries.

Swents8,

The American economy has been a recession since 2007, and it’s in the gutter now. They keep going this way they might have a depression. The whole world now is in a recession. The Canadian economy slipped into a recession in the fourth quarter of 2008.I heard on bnn this morning the Canada is weakening fast. If were lucky things might stabilize in 2010.

I wouldn't say it's going down the gutter. The US will probably slip into a recession. Since it s the world's LARGEST economy it will affect everyone to some extent. 25% of Canada's GDP is from US imports.

I found this video on youtube done by a Canadian mortgage broker

Is Canada Headed for a Recession?