I wonder now about Canadian banks & The Dutch effect. It is my belief that the Canadian banks are being allowed to hide their sub prime toxic waste cards close to their chests. Plus Alberta is turning out to be a huge sucking sound that the entire country has had to listen to. The rush of wealth to Alberta has trashed the remainder of the Canadian economy as witnessed by the huge drop in value of the Canadian dollar in rough lockstep with the drop in Oil prices. Now while this benefits exporters like myself, I don’t think it will last long. Exporters cannot build businesses worrying that the Candadian dollar will skyrocket next week. So while various indicators from the government show strength(relative to say… everyone else) in our economy those numbers due come from the government.
So I think that it might now be time to dump my Canadian banks.