70,000 job losses in Canada last month.
http://www.google.com/hostednews/can...OaAcKitw3j3T5g
I still contend it was the job losses in the states, that triggered the financial crisis. I understand that it was created by a different issue but the trigger was the start of job losses.
This is the first month Canada has started to lose jobs.. How many of thoes 70,000 people are completly extended on their credit, mortgage included? How many of thoes people are gonna start missing mortgage payments? How many months do they go before CHMC, (who owns thier mortgage, see "75 Billion canadian bank injection") starts calling in the mortgages?.. Do they let people go longer, sweep it under the carpet hiding the bad news to try and protect the rest of the market? Does it all build up to one horrible crash when it comes tumbeling down or does it work?
4 months after the start of the job losses in the states we see the start of the collapse. Will Canada follow suit?
The US lost a wopping 500,000+ jobs last month... how many of thoes people are gonna be in trouble with mortgages? 4 months from now thoes people are gonna be shown the door. This thing is nowhere near over in the US, and just a few short months away in canada...
But I could be completly out to lunch...