Canada

[cottonpicken]

Next week your going to be hearing all about
spain,and hopefully it doesn't become as annoying as
hearing about the greece thing that keeps going on
and on.

So these numbers are a "what if" some of the
problems came to haunt canada.

A lot of this is from memory so maybe not 100%
accurate.

Start with housing and mortgages.

When the bubble popped in the us median home
prices where 265,000,we are currently at
375,000,which is 42% higher...todays us marian home
price is 195,000.(these are accruate numbers).

Canadas morgage market is a little over a trillion with
cmhc backstopping 600 billionish,

So lets say we have a 10% decline thats 60 billion
directly onto the tax payer and 50 billion on the
banks balance sheets.

Total market cap of the big banks is around 250
billion.

Average leverage ratio 25 to 1.

Otc derivative exposure (estimate)-18 trillion

Canadian federal budget 278 billion

Canadian federal deficit 29 billion

Canadian federal debt 586 billion

[wilagro]

Housing prices should crash...they are way out of whack and overvalued.

Maybe smarten people up to what is real and what is a dream world.

[cottonpicken]

This is a a few hours after my post,i don't post n this site.

http://www.zerohedge.com/news/guest-post-mark-carney-kicks-can

[SASKFARMER3]

I read about spain this morning, Looks
like the shit will hit the fan their next
week.
IF Canada has a housing slip were all
f&%$ed.

[errolanderson]

SF3 . . . it's already begun. data has to
catch up.

foreclosures unfortunately may be another
boom in our real estate market especially
if $80 oil finds a permanent residence.

[tman]

I'm still waiting for 18% interest rates like back in the '80's my dad told me about. But I don't think any conservative/socialistic/communistic government would ever allow that to happen.

Wow, that would separate the men from the boys in a hurry.