From a plummeting economy to the amazing U.S. Presidential Race, to Canada’s lowest voter turnout in history to the Canadian government being thrust into upheaval, 2008 had a little bit of everything.

As 2008 began, much of the world was already in the midst of a financial crisis. Storms swept through the world in the greatest economic crisis since the Great Depression, and still show no signs of slowing down. The economy in 2008 was characterized by stock and real estate market meltdowns, unprecedented bank failures, massive layoffs and rising unemployment, disappearing credit and historic government bailouts of the financial and auto sectors.

And unlike Harper’s reassuring words that Canada would remain unaffected, almost every major province was. British Columbia saw U.S. demand for lumber plummet with prices dropping below profitable levels. And their mining industry suffered as demand from China dropped and commodities took a nose dive. Oil-rich Alberta, once one of the richest provinces in the country, saw the price of oil drop 78% from its peak in July when it hit $147 a barrel. Now, oil hovers under the $40 a barrel mark. In Ontario, the auto industry fights for its life after receiving a $4 billion bailout from the Canadian government. Saskatchewan fared better than the rest as a result of its diversity in energy, agriculture and potash, but still declined as a result of lower commodity prices.
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