It has been said in the past, that for Canada, being next to the United States, is like being in bed with an elephant. This statement was in specific reference to the close proximity between Canada and the United States... and the fact that the Canadian economy will most likely always eventually feel the impact of the effects felt by the US economy. Well the present economic crisis has become no exception to this analogy.
Now, with the election of a new President for the United States, and the shift from republican to democratic party policy in the Oval Office, how will this all come to affect not only the United States, but also Canada?
Well for starters, anything that boosts US consumer confidence is good for the US economy and in turn, good for the Canadian economy. Furthermore, anything that would help to shorten and mitigate the US recession, would be good for Canada.... and based on the out pour of people into the streets expressing cheers and joys following the election of Barack Obama as President-elect, many US consumers appear to be optimistic of what the future will hold with the new administration that will soon come into power.
That being all said, there is no quick fix for the current economic problems. However, it is nice to see a bit of optimism for a change.
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