How long do you think the recession is going to last ?

[allaboutmary]

Just your best guess. (please don't tell me we are not in a recession)   Do you think it is going to get much worse before it gets better ?

[newgirl2708]

what recession? ;p

[daystrom]

Here in Canada we are not in recession, not yet anyway.  Our 3 month forecast is for growth, although slight growth, and this is a result of the fact that we are a net exporter of commodities and that our banking system is the strongest in the world.  That being said, given that you yanks buy 80% of our oil, timber, etc, etc, I am quite concerned about what might happen down the road if you guys start pulling tight the purse strings.  We have a saying up here, when the Americans sneeze, Canada catches a cold.

Now, is this thing going to get worse.  Most assuredly.  The market plunges are not over yet.  I think it is time that your feds start regulating the banking system more tightly, as it is here (something your economists are now looking at).  Also, these high risk mortgages and loans have to stop; your financial institutions were handing out money like the stuff was on fire.

I dunno, the uncertainty is scary.  I just hope things come around before too many people get hurt in all of this.  We have a federal election here tomorrow night.  I typically am an issue driven voter and and this time around I will be supporting our current Prime Minister and his conservative government.  The man is bright, a former economist and he manages money well, something we need during this troubled time.  I am in no rush to give the wheel to someone who might start running budget deficits during this economic storm.

But yeah, lets all just hope that this thing sorts itself quickly.

Ray

[scaredmom330]

I have to agree with you Alienshadow, It is only gonna get worse. I think the same about the politicians and we are in for a worse time then we all have now. My only advise to anyone is put back every penny you can and stock your pantries.  I am too young, don't laugh, but am for the last depression but sounds like another is coming.   God Bless yall

[alienshadow]

I think its going to get worse because the big dogs are going to make sure their pockets are full before they even start to care about the pennies below them.

Plus they could change it all at the blink of an eye but all the politicians want from us is a vote then whoever gets the power will just cover up the real problems to make us think the problem is fixed. Which wont be the case

As far as getting better I just dont see it right now