All major Canadian exports including energy, autos, agriculture, forest products and machinery-and-equipment collapsed in the latest report. Canadian analysts are shocked by the news.

I sure am not.

For my reason, look at happenings in China, a huge recession in Europe, and even a recession in the US that surprisingly few have even figured out yet.

The Globe and Mail reports Sharp trade slowdown set to wallop GDP

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Mike Shedlock

Mike Shedlock

Mike Shedlock is a registered investment advisor representative for Sitka Pacific Capital Management.

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8 Comments So Far
willis9 Wrote: Sep 13, 2012 2:12 PM
Many in foreign countries have been long making illegal campaign contributions to democrats. The few cases that have made it to court are less than the tip of the iceberg. The massive social spending imposed byliberals has crippled our economy and left the world leaderless with the election of obama. Most of Europe is reaping what it sowed, but Canada is a victim of global socialism led by the likes of soros and a host of others in foreign governments and international organizations whose aim is the destruction of the last bastion of freedom.
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Blair31 Wrote: Sep 13, 2012 10:55 AM
Canada, unlike the United States, got its debt under control. At least Bush sent budgets to Congress when he was in office, that was the last time we had a budget. Obama hasn't sent a budget to Congress in almost four years. The House has sent budgets to the Senate. They've died there because Dingy Harry has said that the Senate's not going to write a budget and send it to the House.
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KJQ Wrote: Sep 13, 2012 9:21 AM
I'm Canadian and I've been telling everyone I know for 4 years now that we are in terrible shape, and the coming global economic collapse will make the great depression look like the '50's. Sure, we have lots of natural resources, but if the countries that buy those resources are broke and without credit, then so are we. I've sold my house because I know the housing crash is coming to Canada too.
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Greg1084 Wrote: Sep 13, 2012 7:37 AM
Remember when Bush told people in the months leading up to the election of 2000 that we were heading into a recession? The press derided him for "talking down the economy" and then after the election labeled the recession "the Bush recession". Get ready for a replay.
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Chamuk78 Wrote: Sep 13, 2012 7:12 AM
Well, I haven't seen any of the so called "recovery" . The stimulus failed and no mention of it on the Lame-stream media. And the housing bubble is there, the one in China is interesting, whole cities that can house millions were built, and no mention of it on the Lame -stream media either. I never had any illusions about Barry, and time has proven us rigth.
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PhillupSpace2 Wrote: Sep 13, 2012 2:17 AM
Mish, all gloom and doom will arrive as soon as the election is over. The media refuses to ever hear a discouraging word which might expose some rusty chrome on their guy!

Remember the worst economy in thirty years accusations flailing Bush 41 when nothing of the sort was true? And then there were the terrible unemployment conditions (they are only hamburger flipping jobs) when the Bush 43 economy had unemployment at 5%? Right now, it is the emperor and his new clothes story of the day!

But after the election even the sychophants will suddenly discover that the Bush Recession has stretched out much longer than previously thought; And if Romney is elected, we will be told of two parallel recessions, Bush and Romney!
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WestTexan Wrote: Sep 13, 2012 9:39 AM
Quite true, the Media and Marxist establishment cannot have "Democrat" failures to explain, so they'll lay a blame-trail.
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MoreFreedom Wrote: Sep 13, 2012 3:32 PM
How true, unfortunately. Like the 4 US embassy employees killed in Libya, the media wants to talk about Romney's response. Hardly a peep about the apology from the embassy, the lack of support for free speech from Obama, the locals the consulate hired for security, or that it was Gadhafi supporters, that coordinated the attack with the protest. Another example of blowback from meddling in foreign countries. Whenever we pick sides in a civil war - we will create enemies.
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