Thursday, June 30, 2011

Sombre Happy Canada Day...

Not just because we have had such terrible weather so far this year, but because being responsible and keeping your sanity in the midst of a rip-roaring bubble (of any kind) is danged difficult.

Especially when you know the carnage that will fall upon our friends and our country, if and when the bubble bursts. In fact even those who have sat it out will be forced to share the pain.

It's like going with a bunch of friends to the bar and trying to get them to moderate their imbibing while they are guzzling down the booze. You are staying sober, and end up having to take them to the hospital and paying the bra tab and the medical bills.

It's already happening with 1% rates for savers and 3.7% inflation. The speculators are eating out money and all the idiot at the Bank of Canada can do is wring his hands and keep saying 'please stop borrowing so much'. He needs a good kick in the wallet and then someone should pull him by the ear and show him the excellent charts on Ben's site- duh! You did it! You and Flaherty and Harper.

Have a good one folks. We are lucky to live here, renter or owner. It is a great country. So by the way are the US and Spain and they are both reeling from stupid mistakes by their policy makers that led to a housing bubble that burst and caused carnage. How far away can we be?


  1. "paying the bra tab": Not sure what that means, but sounds like a good bar night :-)

  2. Ha!

    I think I will just leave that one.