Even in my little bubble I've been hearing some news bits. There seems to be a financial crisis happening in the US. All of a sudden it seems that a bunch of these huge financial companies are going bankrupt or being bailed out by the US government. I think it's related to the crazy housing market in the US, including sub-prime mortgages. The US government just bailed out AIG over the weekend... and I think they bailed out Fannie May/Freddie Mac (mortgage companies on the verge of bankruptcy) a little while ago, too. They let Lehman go bankrupt, though. How many other companies could be affected, here?
I just read an article that said that someone was predicting that the US would only be in a recession for a year because the banks will be bought out or merged and that the banks won't be allowed to fail. I hope that's true. If a bunch of banks or other financial institutions start collapsing with no government or industry assistance, I don't think it'll just be a recession that happens to them. And I hope that no Canadian companies or banks will be caught up in this mess, because then we'll follow right along with the US.
Maybe my bubble is a better place to be.