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|User Info||Ten Things Update: 2011; entered at 2011-06-10 15:24:17|
Anyone see these effects migrating to Canada??
What Karl is talking about is an event that would fundamentally ripple around the globe. It would not be only the USA. It could start in Europe, USA or china but would spread.
It is difficult to say what would happen here. It depends a lot on where you are in Canada. Rural Alberta is a lot different than Vancouver or Toronto. We tend to be at the end of supply lines for groceries etc. in much of Canada, certainly for anything like produce coming from the States.
The financial items in Karl's list certainly apply, our large banks are heavily invested in the USA (which is why they were part of the TARP bailout). We also have our own real estate mess which has yet to collapse. Getting ones financial house in order certainly applies here, as does some emergency food stocks.
The Canadian government and many of the provinces are in a lot better financial shape (in relative terms) than the USA. I doubt our health care system would go under the same way because it works different.
A good guide might be to look at the 1930's