Our largest trading partner, partner in crime, and BFF since WWII, Canada, is in deep shit. And they don't care.
Just like we were, and didn't, in 2007-2008. Then OUR real estate bubble started to burst and look what happened.
Canada is just waiting for the final straw, and the people who buy more of our junk than anyone else in the world (contributing more to our economy) will be pulling their spare dollars out of circulation, just like we have done.
VFD, What will it do to OUR industry, when THEIR consumer stops spending on our stuff?
Hint: the same thing that happened when YOU stopped spending on our stuff. This is going to be messy, people. Don't say nobody told you it was coming.
That link, by the way, goes to Michael Shedlock's Global Economic Analysis blog. "Mish" called the current state of affairs in the USA in 2007, when everyone else was still wearing rose-colored glasses, and those of us who read his writing are shaking our heads when we keep hearing "unexpectedly" associated with the stuff we saw coming, when it finally makes the headlines.
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