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Canada Housing Regulator Warns Of “Strong Evidence Of Housing-Market Problems”
Canada Housing Regulator Warns Of “Strong Evidence Of Housing-Market Problems” In an perculiar coincidence, just hours after Home Capital Group imploded in what we dubbed Canada’s “New Century” moment, Canada’s housing regulator, the Canada Mortgage And Housing Corporation, which describes itself as “contributing to the stability of the housing market and financial system” moments ago […]
Canada’s Housing Bubble Explodes As Its Biggest Mortgage Lender Crashes Most In History
Canada’s Housing Bubble Explodes As Its Biggest Mortgage Lender Crashes Most In History Call it Canada’s “New Century” moment. We first introduced readers to the company we said was the “tip of the iceberg in Canada’s magnificent housing bubble” nearly two years ago, in July 2015 when we exposed a major problem that we predicted […]
The Bank of Canada Should “Cease and Desist”
The Bank of Canada Should “Cease and Desist” “Beneath the symbol We’ll all assemble Oh how we’ll fly Oh how we’ll tremble” — Captain Beefheart, “Ice Cream for Crow” If interest rates are the symbol beneath of which we all assemble, then there are some bad times ahead. But Canada’s “leading economists,” say interest rates […]
Canada Officially Moves to Legalize Recreational Marijuana Nationwide
Canada Officially Moves to Legalize Recreational Marijuana Nationwide (ANTIMEDIA) Canada officially moved to legalize recreational marijuana on Thursday when the government introduced legislation allowing the possession of small amounts of cannabis. The new law also sets regulations for the sale, growth, and purchase of the plant. USA Today reports: We’re revolutionizing the news industry, but […]
“Canada: Irrational Exuberance?” Wild Housing Speculation Drives Entire Economy
“Canada: Irrational Exuberance?” Wild Housing Speculation Drives Entire Economy Everyone is afraid of breaking the addiction. Here’s another data point on the Canadian housing bubble, how immense it really is, and how utterly crucial wild housing speculation has become to the Canadian economy. Housing starts surged to 253,720 units in March seasonally adjusted, the highest […]
Toronto House Price Bubble Goes Nuts
Toronto House Price Bubble Goes Nuts Based on fundamentals? You gotta be kidding. Residential property sales in Greater Toronto soared 17.7% year-over-year to 12,077 homes, according to the Toronto Real Estate Board (TREB). New listings jumped 15.2% to 17,052. Prices for all types of homes, based on the MLS Home Price Index Composite “Benchmark,” soared […]
Joyce Nelson, Mark Anielski on “It’s Our Money”
Joyce Nelson, Mark Anielski on “It’s Our Money” A handful of Canadians are waging a noble fight to return their central bank, the Bank of Canada, to its chartered role as a low and no-interest financier of government projects and the public interest. That case is at the center of a new book called Beyond Banksters: Resisting the New Feudalism. […]
China May Import Its Workers To Canada As It Seeks “Total Access” To Canadian Market
China May Import Its Workers To Canada As It Seeks “Total Access” To Canadian Market China’s ambassador to Canada, Lu Shaye, told the Globe and Mail that Beijing is seeking full access to Canada’s economy ahead of free trade talks, a move that could result in Chinese state-owned companies bringing their own employees to work […]
CIBC CEO explains why bank is replacing Canadian staff with workers from India
CIBC CEO explains why bank is replacing Canadian staff with workers from India CEO Victor Dodig acknowledges that ‘outsourcing isn’t a popular decision’ CIBC CEO Victor Dodig sent a memo to staff on Friday to explain why the bank sometimes needs to outsource work to other countries. (Jeff McIntosh/Canadian Press) CIBC’s CEO issued an internal staff […]
How Solid are Canada’s Big Banks?
How Solid are Canada’s Big Banks? The World Economic Forum consistently ranks Canada’s banks among the world’s safest. Competent regulators have overseen stress tests, tightened lending standards and delinquency rates are low. Demographics are good and the country’s diversified economy is backed by a treasure of oil, wood, gold and other natural resources. So the […]
“This Is Going To Blow Sky High” – Observations On Canada’s Housing Market
“This Is Going To Blow Sky High” – Observations On Canada’s Housing Market For months we’ve been warning about real estate bubbles re-emerging in various markets around the world from Canada to Australia (see “There Are 66,719 Empty Mansions In Vancouver” and “Vancouver Home Sales Crash 40%, As Toronto Home Prices Soar 22%“). And while […]
Canada Flagged for Recession by BIS
Canada Flagged for Recession by BIS This can’t be good… As if Canadians needed more proof that the country’s real estate is in a bubble, and that this misallocation has spread to other sectors of the economy, the Bank of International Settlements released its latest quarterly confirming what any critical observer can see: binging on debt is […]
Whose Banks Are Riskiest: A Surprising Answer From The BIS
Whose Banks Are Riskiest: A Surprising Answer From The BIS When one thinks of unstable, risky banking systems, the first thing that comes to mind are visions of insolvent, state-backed building – with or without long ATM lines – in China, Greece, Italy or, in recent times, Germany. However, according to the most recent report […]
What happens when a Canadian border agent asks to search your phone?
What happens when a Canadian border agent asks to search your phone? And what can you do if it happens to you? Agents on both sides of the border can go through your photos, contacts, apps and other information stored on your devices. (Sean Gallup/Getty Images) Cody Anderson was one of millions of Americans who […]
