Canadian Recession in 2020??

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In fact, like it or lump it, good relations with the U.S. is one of Canada’s two most important assets. The other is the country’s spectacular resource endowment. And Trudeau has degraded the value of both these assets to the detriment of all Canadians. This will all prove to be very expensive as the country heads into a recession due to a worldwide slowdown combined with the damage inflicted on the country’s oil industry.


Canadians currently owe about $2.2. trillion in total debt, up by nearly a trillion dollars in just the last decade, Rosenberg said. “This drag on debt service, just for the household sector is going to drain GDP next year.