I really do hope that I AM over the top, but, I don’t believe so. While it’s true that our lending institutions do have more stringent controls, as is evident by the fact that they managed to keep us clear of a prime rate fiasco like they had in the States, the fact remains that our economy is still very much debt driven.

The debt load of the average Canadian very nearly matches that of the average American and, while our Nation’s debt isn’t the staggering amount owed by the US, the fact remains that our economies are still closely linked.

I don’t claim to have a crystal ball, but my belief is that when the US dollar tanks, it’s going to lead to an extreme GLOBAL monetary crisis, and I base this on the comments of people much brighter than I am in this area.

As one of the people I listen to VERY closely recently said, “We’re shorting everything except gold, silver and China.” To me the warning is pretty clear. When the dominoes start to drop, it’s pretty hard for one to standup against all the others.

I’m afraid I don’t hold much hope for the LEADERS of our country to be working any miracles either. I have ZERO confidence in, 1) their ability to stand up for us in a real crisis or, 2) their ability to make wise decisions in our favour.

You mentioned the sell-off of natural resources, and it’s a great example. Why in the WORLD would a responsible government even think about such a thing?

“Oh, the bidder has the resources to do so much better a job than we do!” What a crock of !@#$.

Crank up production, get our people working and grow a pair for crying out loud! Let the world see that Saskatchewan AND Canada can BE a leader, and quit being afraid of making a profit! Communism’s dead, and socialism just brings everyone down to the same, low level.

Oh boy, now you got me on a soap box.

Anyway, thanks for commenting and LONG LIVE MACINTOSH!

Not to mention a lot of doom and gloom, how do you keep a smile on your face? Don’t take that as negative comment I meant it as a joke. In fact , I agree with a lot of what you said. I am just holding out hope that it is not going to be as bad as you make it out to be.

All I have to base my thinking on is my small experience as a business man. If you have a large debt and don’t have a product or service sitting on your shelf to sell your not going to be able to make a living. If you look at the U.S. economy as a business there huge mounting debt and declining product and service base, they are in deep dodo.

There auto industry I believe is still in trouble , the music industry took a huge hit from the internet and movie industry is not far behind, going through turmoil now. You are hard pressed to see any U.S. or Canadian made products anywhere, with everything coming from China.

One of thoughts that gives me a little glimmer of hope is that Canada has been on this down hill slide for some time and has been on a slower pace. So I am hoping that we are better prepared for it and the hit here will not be as hard. If you believe the banks when they say they have better lending rules than in the U.S. that may hold out some small hope. Maybe you could answer that question for me, Michelle or Don?

The fact that the Sask. Government is trying to sell off its natural resources like the potash mines really scares the hell out of me though. Someone needs to shoot those dumb shits.

Oh look you got me going on a rant I better shut up and get off my soap box before I bring up Mac and how Steve Jobs is the U.S. economies last hope.

On a side note , one day about a month ago I said to Naomi we should try to by only Canadian made products for just one year and if we cant do without. Well you can guess how far that went. She said if I did all the shopping for that year she would go for it.
lol

Have a great day!
Long live Canada , I believe the best country in the world.
And please think about our troops before moving onto Jesus Christ’s birthday.

I cant believe they have decorations out already.

It’s not a question of IF the US dollar crashes, it’s WHEN, and then, as you say, our holidays and shopping trips are going to seem pretty insignificant.

The good news is that there are ways we can protect ourselves and that’s why I’m putting these articles together. It bothers me that a lot of people are potentially going to find everything they’ve saved and worked so hard for simply disappearing in front of their eyes, due to NO FAULT of their own, when just a little extra knowledge could make all the difference.

Anyway, thanks for the comment and keep checking back for more.

Don

I reworked the article to fix up some errors and add clarity. You might want to take another look at it.

Take care,

Don
Don recently posted..Why The World Cares About A US Financial Crisis