Interesting discussion on the topic of the “invulnerability” of Canadian banks over at the Market Ticker forum.
http://tickerforum.org/akcs-www?post=119224
Thoughts?
I’ve been following this very closely. We’ve just passed the peak of the market in terms of housing valuation. The housing and financial markets here are looking like those of the US in summer of 2007.
We’re going to get a pretty bad crash. The major banks will all face huge losses. All of them will survive because the government will conjure up enough money to make sure they do. Holders of homes and Canadian dollars will get screwed as a result.
I’m trying to scrounge up whatever money I can so that I can short the banks.