Hi Pearly:
LOL!
I believe the process was properly entitled "drawn and quartered" but perhaps we had best not dwell on the details of how this was done..... after all, this is a "family-approved" thread. (g)
So far, the spreading US real estate mess has not shown up on my side of the border in a meaningful way, but of course I expect it will not be long in arriving. Canadians have not entered the real estate flipping craze with the passion shown in the US, but there has been plenty of real estate "price escalation", hence we will not remain immune, once the real estate collapse picks up some steam.
Nor do I think Canada escapes the coming recession. Canada sells 40% of its GDP to the good old USA, hence "where it goes, we will follow". That said, Canada has spent the last several years paying down its (formerly nasty) deficits and is, in relative terms, in good shape. Similarly Canadians tend to be more conservative than Americans (which used to drive me crazy when it came to extracting dough from them for junior tech investments), which equates with consequentially lower consumer debts. In summary, I would rather be up here in the land of ice and snow when the wave comes ashore, but we will still be served our ration of financial pain when it does.
Not a nice thing to contemplate, but we will all survive it.
best, Earlie |
