Reasons to Worry, the Canadian Edition

Stephen Gorden, a Laval University economist, has summarized and detailed the reasons why Canadians have to worry about a recession:

• The decline of exports to the US
• Financial contagion
• Housing markets
• Consumer confidence

Read the details on his blog entry to understand why the following will cause us to go over a cliff along with the US.

Personally, I'm convinced that Canadians just can't stand seeing the Americans outdo us in anything. So if they want to run their economy over a cliff like lemmings into the sea, then by golly gosh, we have to show them that we are can do a good lemming imitation to preserve our honour as almost-Americans.

Seriously, I was happier with an earlier post by Stephen Gorden which showed how much healthier our employment was than the US. As you can see we are still growing our employment while employment is actually shrinking in the US:

This divergence is even more obvious if you look at the level of employment and not at the rate of change: