Inside Ground Zero Of Canada’s Recession

n the past year, we have extensively profiled the collapse of ground zero of Canada’s oil industry as a result of the plunge in the price of oil, in posts such as the following:
“Canada Crude Contagion: Calgary Home Prices Drop Most In 2 Years“ “Canada’s Biggest Oil Casualty To Date: Calgary’s Nexen Shutters Oil Trading Desk“ “The Canadian Housing Bubble Has Begun To Burst“ “Canada’s Oil Patch Confidence Crashes“ “Canada Mauled by Oil Bust, Job Losses Pile Up – Housing Bubble, Banks at Risk“ “The Stage Is Set For A Massive Housing Market Correction in Canada’s Oilpatch“ Since then it has gotten far, far worse for Canada. In fact, as of September 1 it culminated with the first official recession in 7 years.

This post was published at Zero Hedge on 09/11/2015.