The Governor of the Bank of Canada recently announced that the recession in Canada is over. While Government has a major stimulus package creating a significant deficit, it is not even as bad as it was in the 1980s in our last Canadian made recession. No Canadian Banks have been bailed out or failed. As an energy country, Canada is sitting on resources everybody will start to want more of oil, gas, minerals, water so why arent Canadian businesses doing better? The easy answer is that Canadian business are exporters and the people we traditionally sell to mostly the US arent buying yet.
The question we are all waiting for is: Will the American (and EU) consumers come back soon, or is there another shoe yet to drop?