Love for the rubber capitals,

so the Canadian housing market has been in a bubble

for what a decade, maybe more,

and the price has just continued to go up and up and up and up

and so we all know that it's a bubble we all know that trees don't

grow to the skies so at some time you're going to have a correction now is that correction

in a month is that correction in two years five years

who knows and obviously the government has come out and will continue to come out

and try to prop up the market and do all these crazy things.

Who knows?

They may come out with a 100-year mortgage,

but I didn't realize the extent to which

the market is starting to crack right now as we speak.

And why that matters is because it's what is happening in Canada,

not just with the real estate market,

but with the overall economy is likely to happen in other major economies and this is going to prompt the central banks to lower rates and then the question is can they compete with the United States? Can they

compete with the Federal Reserve? And if they can't, then what happens to interest rate

differentials and what happens to currencies and what happens

to the dollar and then what happens to all their dollar denominated debt and the

things that they need to buy in dollars and this just goes round and around and around.

So I'm going to go ahead and connect the dots for you here in just a moment.

But before we do, let's go over to a recent podcast.

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