Last week I was asked to do an interview for CBC the National to talk about the US Debt Crisis and how it is affecting the Canadian economy.
It’s a well-known fact that the Canadian economy is closely tied to that of the US. Plus we’re already starting to feel the pinch here – higher gas prices, and growing reports around pending economic uncertainty certainly does not paint a happy picture.
However, the economic uncertainty of other countries, particularly the US, has led to periods of record low interest rates for Canadians. The Bank of Canada wishes to increase mortgage rates, however, their hands are tied due to this global financial instability.
What are your thoughts – glass half empty, or glass half full?