Ahh the rush of the holidays.
Had planned to do an indepth post today on the silver issue but after spending the morning at the beach with my dog, I got bogged down all afternoon with several lengthy emails. Before I knew it... I had to get ready for tonight's Festivus party.
And in the spirit of Festivus, I have to say that the plethora of news articles generated by our Central Banks debt warnings are nothing short of a 'Festivus Miracle'.
It's no longer a case of 'bitter bloggers' who are crying 'chicken little' that the sky is falling... rather the whole issue now has an aura of legitimacy.
Of course, until a collapse happens... the idea that we are in a bubble simply will not be accepted, even with Mark Carney sounding the alarm about the dangers that lie ahead.
Look for an intense counter-offensive by the Real Estate Industry.
The first shot has already been fired by the likes of Helmut Pastrick, chief economist of Central 1 Credit Union, who said:
- “I don’t see a price bubble and I don’t see that we need the mortgage criteria tightened as is suggested in some quarters”
Somehow the winter doldrums of January/February aren't going to be as boring as in past years.
Let the airing of grievances begin.
Happy Festivus everyone!
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