I remember the last down turn in property values, when 2nd’s where hot, hot, hot! 125% CLTV! This is so crazy.

Now we have a discussion and I agree with you, mostly. Yes, less hummers, more trains, but that infrastucture takes time, and while I can agree that my govt. was either asleep at the wheel or greedy or what have you, it really doesn’t matter now. And yes, I am close with people in manufacturing in both ontario and quebec, and until the last couple of years some of them were even paid in u.s. dollars, but their work is drying up, and it sucks. In addition I agree it won’t help who wins the u.s. election this mess is bigger than any one administration. So, all and all we are basically “f—-d” and short of marching in the streets I do not see any other solution than to take care of myself, and family and screw the people who refuse to take these issues seriously. All the while praying that I can hold it together. I am supposedly upper middle class, and fairly conservative with my $$ and I am feeling the heat, so what about everyone under us? god help them.
and the war, gosh, yeah, it is costing us dearly, and not a fan of bush here either, and my favorite thing was he promised Iraq oil would pay for their own reconstuction, yup, okay, and funny the media never hammer him on that? The irony in our system is that typically the Republican party represents small govt, and allowing people privacy, etc. this administration has nothing in common with that “republican party” Not all of us are American Sheep.

thanks again, I really appreciate constructive debate, (I most certainly do not need agreement) or discussion over time wasting assaults.

Asia is eating all of us alive. Oil and gas is nice. But the industrial base is being destroyed exactly like in the US. I wish a little bit of sanity and peace, less cooking of the books, yes some regulation, less McManshions, less Hummers, more trains, more tramways.You know the nasty commie things from “OId Europe”.

That stupid war has cost your country 3000 billion. And it has nothing to with Ben Laden. It was and is still a real convenient excuse to hide the real objective; cheap cheap oil supplies for Chevron and the gang.
No fan of Bush indeed. Where’s the small and responsable government promised ?

It won’t change a thing if the Democrats win. It never changes. Goldman Sachs have their men in both parties and they call the shots not the people. “We the people” have nothing to say. By the way the president of the Central Bank of Canada is also a guy from the Goldman Sachs mafia.

As you already know your country is much more connected to this one (probably more than you may enjoy), but if we go down the shitter, Canada may do a bit better, but there will be alot of pain there too, so be careful what you wish for Thanks.

Commercial paper filled with freakin CDO’s that were sold by stupid canadian bankers as safe investments with higher yields. The 12,6 billion will be frozen till 2017 ! and our stupid colonized and dumb pension plan managers will be receiving if they are real lucky, 40 cents on the dollar.

Bankers across Canada lost about 40 billion dollars of that US real estate toxic shit. Did you know evil-A, that the Canadian banking was almost kaput two monts ago ? We are really a bunch of stupid morons in Canada when it comes to USA.

I just pray that these stupid canadian bankers have told the truth. But I think not. I believe that there is probably much more of this and that the shit will be hitting again the canadian banking system in october or november.

SunTrusts 85% LTV is a deal killer anyway.

You hit the nail on the head. The banks don’t have any money and the are anticipating far greater decline in home values.Our financial system appears to be in a controlled demolition.