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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 374.22-0.2%Nov 21 4:00 PM EST
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To: abuelita who wrote (15402)3/15/2007 2:38:04 PM
From: energyplay  Read Replies (3) of 217930
 
There is a decent chance that Canadian banks will feel only indirect effects from sub-prime.

Because of currency risk, especially of the Canadian dollar becoming stronger, I expect that US mortgage CDOs are only a small part of the Canadian banks' assets.

Second, lots of money is being made from the resource sectors, enough to cover over all but the largest screw-ups.

Third, high immigration into Canada will tend to absorb any housing surplus.

The sharp decline of the North American auto industry will be a big hit to Ontario, but that's another issue.
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