As Oil Boom Ends, Canadian Economy Stalls

As Oil Boom Ends, Canadian Economy Stalls

Boring. Predictable. Prosperous. Over the last decade Canada’s been living out that modest dream. The caution of its bankers helped the country breeze through the financial crisis relatively unscathed. An oil boom and rising prices for commodities from copper to wheat kept Canada growing while the U.S., Europe and Japan struggled. But fast forward. With oil and other commodity prices sharply down, the Canadian juggernaut has stalled. In response, voters kicked out the Conservative Party that had been in charge since 2006, handing a sweeping victory to the Liberals and their youthful leader after flirting with the socialist-aligned New Democratic Party. What’s next? Should be interesting, eh?

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