David Bercuson: The Road to U.S. Economic Recovery?
[David Bercuson is a professor of history at the University of Calgary.]
When it comes to American politics, Canadians are heavily Democratic.
But Canadians might want to pause before hoping for a Democratic victory in November’s congressional elections.
Canada is economically dependent on the United States and although Canada has fared much better than the U.S. in the Great Recession, Canada too is stuck in the economic doldrums and will remain so as long as American consumers keep their money in their wallets. They will likely stay out of the market as long as fear dominates the U.S. economy. As long as they do so, job growth in the U.S. will remain anemic....
A Republican victory in November might be the political catalyst to move that consumer....
There is a national mood of pessimism and depression in the United States today. To many who will vote in November, it doesn’t matter a bit whether Mr. Obama and the Democrats are truly at fault for America’s ills. They want change and they won’t come back to the market until they feel safer and more secure. They are more convinced than ever that nothing will change if the political alignment in Washington remains the same.
Most Canadians may be appalled at the prospect of a Republican victory, but there’s a good chance such an outcome will have a silver lining for Canadian economic recovery.
Read entire article at Globe and Mail
When it comes to American politics, Canadians are heavily Democratic.
But Canadians might want to pause before hoping for a Democratic victory in November’s congressional elections.
Canada is economically dependent on the United States and although Canada has fared much better than the U.S. in the Great Recession, Canada too is stuck in the economic doldrums and will remain so as long as American consumers keep their money in their wallets. They will likely stay out of the market as long as fear dominates the U.S. economy. As long as they do so, job growth in the U.S. will remain anemic....
A Republican victory in November might be the political catalyst to move that consumer....
There is a national mood of pessimism and depression in the United States today. To many who will vote in November, it doesn’t matter a bit whether Mr. Obama and the Democrats are truly at fault for America’s ills. They want change and they won’t come back to the market until they feel safer and more secure. They are more convinced than ever that nothing will change if the political alignment in Washington remains the same.
Most Canadians may be appalled at the prospect of a Republican victory, but there’s a good chance such an outcome will have a silver lining for Canadian economic recovery.