Why is our Prime Minister warning us of a US economic crash ?

Question

OTTAWA - Prime Minister Stephen Harper is warning Canadians to brace for fiscal belt-tightening as a looming economic collapse in the U.S. threatens to make waves north of the border.
http://cnews.canoe.ca/CNEWS/Canada/2007/12/20/4734576-sun.html

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The writings is on the wall ?

A good way for a Conservative PM to distance himself from Bush - even though he loves Bush ?

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If the US economy did collapse what would be the likely outcome - military coup police state and what about all those nukes would they be safe if and when the American economy does collapse ?

Answer 1

We are in trouble here. We may have to pull a Musharraf.

Answer 2

The subprime crisis and weakness of the dollar points to a impending recession in the US economy. Collapse or crash might be a bit extreme to describe the situation that will likely occur over the next 18-24 months.

Answer 3

No I'm sure when the economy collapses there will be martial law, people will be dying in the streets and those lucky enough to survive will feed from the flesh of those who have been murdered by Bush's private security police. Bush will then sell all the nukes to the highest bidder and then he will live out his golden years in a very secluded island.

Answer 4

There might be a recession in the U.S. That may cause a recession in Canada, because they are our biggest economic trade partner.

Recessions are normal and usually happen at least once a decade. I am not too worried.

Answer 5

We'd be fine. When the GD hit, nothing near that bad happened. The US econopmy is still strong and over time the market will recover and correct itself, that is how it has always worked. The fact we might go into a recession does not mean the US is facing imminent economic collapse.

Answer 6

Sounds as though your PM has been listening to the fear mongers in our administration. It is quite effective, here in the U.S. , and that's how Cheney & Bush have been getting all of their bad decisions to be implemented. It's 'after the fact' that a lot of us trusting individuals realize how much they have lied to us. Don't sweat it....we've learned to identify the lies!

Answer 7

Only Ron Paul can lessen the government spending which is completely out of hand, balance the budget and avoid economic collapse!

You idiots saying the economy is strong... Doesn't over $9 TRILLION of national debt mean ANYTHING to you!? Jesus Christ... That's over $20,000 per man woman & child (and growing) which will need to be paid back to China.

Answer 8

Canada survives off of U.S. consumerism. Canada has a "parasitic" relation with the U.S. just like Mexico, China, Venezuela, etc..

If the U.S. dollar falls more then products from Canada will become more expensive for Americans. Americans won't be buying cars made in Canada, instead they will be buying cars made in America.

The good news for Canada is its growing oil business (thanks to U.S. scientists) is lessening Canada's need for its manufacturing sector. Like Saudia Arabia, Canada's primary revenue will be oil.

http://www.eia.doe.gov/emeu/cabs/topworldtables1_2.htm
http://www.eia.doe.gov/emeu/cabs/Canada/Oil.html
Canada is the largest supplier of foreign oil to the U.S..
http://www.eia.doe.gov/pub/oil_gas/petroleum/data_publications/company_level_imports/current/import.html

Answer 9

Because he is probably the dumbest Canadian there is. We have record low unemployment, record high DOW, record home ownership, and in this media overblown "real estate and mortgage crisis" we have had the 5th largest year in real estate sales IN OUR HISTORY!

Our economy is thriving no matter how much the media is trying to choke it off. Hell, if the media got behind it, we would have a booming economy, but their doom and gloom IS scaring people.

Answer 10

He must recognize the Bush deficit spending for what it is, disastrous.