Not much to say Baba, nothing new in this view by Carney to me but I expect the mainstream media in Canada is probably completely caught off guard. I still think Canada is in far better shape than the US or Europe or Japan but don't take this for meaning there aren't issues to be dealt with. I have for many years written to the finance minster, Prime Minster and MP's expressing my displeasure with there spending practises and lack of gold backing our currency while carrying far too much US currency in our reserves. I would hold the Canadian dollar ahead of most any currency in the world right now.

Thankfully we didn't let our banks merge and get bigger in the 1990's as they wanted too and it's also good that they actually still hold some mortgages. The voices mattered on the issue of size and pushed the govenment to not allow such lunacy and this helped keep our bank from being zombies like all the large US banks. Even with a more common sense/intelligent approach the banks in Canada still have some issues as do private debtors.