As Occupy TO or Occupy Bay Street takes its lead from Occupy Wall Street, it’s useful to ask whether Canada faces the same financial issues that have sparked protests in the U.S.
To be sure, Canada’s economic performance has been better than that of the U.S. since the onset of the Great Recession. Growth is higher, unemployment is lower, the housing market appears to be healthy. But that doesn’t mean Canada isn’t suffering through a post-recession hangover.
It’s just this time, it’s much weaker than the 1991-1992 or 1981-92 hangovers. Those times, we had to depend on the American consumer to buy our cars and timber. This time around, they’re not buying. They’re tapped out. But others are buying our oil and wheat
So why complain? Because, well, our banks weren’t virginal to the financial instruments that amplified the global financial crisis. The common view is that they were at least prudent in their counterparty relationships. Yet, many protestors and commentators put Canadian banks in the same financial policing lineups as the usual suspects: promiscuous U.S. thrifts and U.K. building societies, with such trustworthy names as Northern Rock or Washington Mutual.
http://www.investmentreview.com/expert-opinion/did-the-cmhc-bail-out-banks-in-2008-5592
You've been phucked and too stupid to know it..... smooth move my fellow Canadians
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