It seems that Flaherty doesn't want to tighten the lending markets again. I love that word, tighten. It's excellent newsspeak, as it sounds like something changed and a problem was addressed. Flaherty may soon be caught in his own lie that "growth has been stimulated", as there hasn't actually been growth at all. Debt has been stimulated, which temporarily and at a higher expense makes growth appear to be happening. The basis for this growth as yesterday's post points out is household financing. The same household financing that has been very volatile as I pointed out in the fine line between reality and lies. If that is "tight", then what exactly is loose?
Would it be the reliance on the ponzi American economy our banks admitted to that I showed in all that matters is the math? Is that "tight"? It's not the rules around lending that are the problem, Flaherty. It's the whole damn financial system. It's corrupt, based on fractional reserve lending and exponential never ending growth. Did I mention that pesky problem of peak oil?
We've got a problem here Canadians, journalists and citizens - you need to question the "stability" of our financial system. We didn't avoid the crisis, we delayed it, compounded it, and that won't last.
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Richard Fantin is a self-taught software developer who has mostly throughout his career focused on financial applications and high frequency trading.