Saturday, December 18, 2010

Canadian Borrowing Gone Mad

I was working on a post compiling many of this week's debt warnings and rationalizations when I came upon this post by Mish Shedlock.

Mish says it better than what I had prepared, so check out his full post.

Also... adding to this week's round of debt warnings is this Carney piece in the Toronto Star where Carney warns that "the hard part of the recovery is just starting."

Intestingly, came across info that today on BBC Radio 4 (which is designed to serve as offshore radio and is part of the Royal Navy's system of Last Resort Letters - a system that in the event of a suspected catastrophic attack on the United Kingdom, submarine commanders check for a broadcast signal from Radio 4 to verify annihilation of the homeland) the Money Program panel had the consensus view that interest rates would go up substantially in the new year.



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