the new coffee can

I believe..........before the next election and maybe this fourth quarter of this year we will have a collapse of the US Stock market, the value of the US dollar, .........the housing market is falling monthly on the west coast and in Olympia, the cost of food and goods are raising monthly,  we are enter third unpaid/unfunded war, the congress refuses to regulate banks or wall street which collapsed in '07 putting the world finances at risk, congress refuses to tax the top one percent of the wealthy in this country as their wealth expands, the slide is on and will not stop until we see the big crash. 

this was written in March 2010 but I believe it to still be true.

"""""""""""With the US dollar increasingly perceived to be walking on shakier ground, and no significant signs in sight that the US will be able to pay off its debts without radical quantitative easing (i.e., effective devaluation of the dollar); continued unemployment levels near 10% and no short-term fix in the ongoing housing slump (more foreclosures expected throughout 2010 and 2011), more Americans are beginning to look north for investment opportunities that might provide a safer haven for their money.
And Canada is probably one of the best places American investors could park their money abroad.  Canada’s federal debt is actually lower than it was ten years ago, and percentage of debt-to-GDP is the best among developed nations (Germany ranking second).  It may be largely oil money, but there’s no denying that Canada is the new Switzerland: probably the best fiscally-managed country in the developed world.


I’ll repeat a few facts that certainly almost all Canadians will be aware of  by now:
1. Several of its banks were rated the safest in the world in the midst of the financial crisis of 2008-2009.
2. None of Canada’s banks needed (or asked for) a government bailout.
3. Canadian banks are all trading at or slightly above their 52-week highs – even a month ago, before the big comeback rally started last year.
4. Fiscal health extends beyond the banking sector – right before the credit crunch and market crash, two of Canada’s provinces were completely debt-free (Alberta and Newfoundland) with a third (Saskatchewan) close behind.
5.  Canada also has a sub-prime housing market, but perhaps due to different regulations and a different culture of consumption, there was never the debilitating wave of foreclosures that hit the U.S.  Then again, there were no “NINJA” mortgages in Canada, either.""""""""""""


It is time to open a Canadian saving account.