Quote:
Originally Posted by Acajack
First of all, the industry is not going to collapse, it is just going to slow down.
Second, look at what percentage of Canada's economy is related to crude oil? 5%? 3%?
And areas of the country that benefit from the lower dollar make up roughly 70% of the country's population.
Even Alberta itself won't collapse because of this. It will only slow down.
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This is absolute 100 percent horseshit.
Newfoundland for example is basically a few degrees away from rather drastic austerity.
We get a massive portion of governments of revenue from oil, and it means almost all sectors of government here are contracting.
I have no idea how trickle down economics factors in, but if alberta is experience the same thing as well as mining in northern ontario, as well as the rest of the prairies and the north.
I have no idea how anyone here can pretend trickle down economics doesn't happen in Canada.