Source: http://www.theglobeandmail.com/report-on-business/managing/board-games-2010/why-jarislowsky-thinks-stock-options-are-dangerous/article1830660/singlepage/#articlecontent
Canada’s banks got high marks from the International Monetary Fund for escaping much of the carnage that ravaged U.S. and European financial institutions in the wake of the global financial crisis. Have they done enough to leverage that position?
Yes and no, but here’s the thing: In Canada the hardship still lies ahead. Our houses are still 20 to 30 per cent above normal levels, salaries are shrinking and a lot of Canadians are heavily indebted. There’s a lurking disaster, to the extent that you have reduction of purchasing power and we are just not saving hardly anything as a nation.
That’s pretty bearish.
I think things are going to get a hell of a lot worse. We still have a trade deficit today despite the fact that commodity prices are incredibly high.
I hope I’m wrong but I think Canada is on the edge of a lot of trouble.
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