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Guest Post: Tough Day To Be Canadian
Via Kevin Muir of “The Macro Tourist” fame
Today is a tough day to be Canadian.
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This may actually work out (or “work oat”, as you say in Ontario) well for Canada. Knucklehead half-wit Stephen Poloz can’t figure out how to pop the real estate bubble and keep the Loonie weak at the same time. This could be the solution. If the Loonie tanks against the USD, then Poloz can raise interest rates to get the Loonie back up to its current 75-ish cents USD. The higher CAD interest rates will tap the brakes on the real estate bubble without resorting to the foreign buyer tax.
Could be a win-win. If this falls into idiot Poloz’s lap, he might not be too dumb to take “yes” for an answer.