You’ve been saying this since what 2010? Raising rates before the US will decimate the export economy as we would see 1.20 USDCAD or worse.

“Isn’t there a nice big high rise empty office tower in Manhatten that once belonged to Lehman Brothers?’

Sure. The US made an example out of Lehman Brothers but how much did they spend to save ALL THE OTHER BANKS. Up to USD $29 TRILLION.

$29,000,000,000,000: A Detailed Look at the Fed’s Bailout by Funding Facility and Recipient
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1970414

Isn’t there a nice big high rise empty office tower in Manhatten that once belonged to Lehman Brothers?

“I don’t care about Canadians that over leveraged themselves when they couldn’t afford it. It’s time to let the market fix the inefficiencies set up by the central bank, commercial banks and federal government.”
Defaults will just force the commercial banks into insolvency. As we saw in 2008, governments won’t let that happen.

Nope, 2022 is the year. Convid restrictions will be lifted and Canadians will spend to their hearts content and to avoid hyperinflation, rates will be hiked. Stocks, and real estate will plummet, those smart and with cash will be ahead when the fire sales start.

Dog eat dog world. I don’t care about Canadians that over leveraged themselves when they couldn’t afford it. It’s time to let the market fix the inefficiencies set up by the central bank, commercial banks and federal government.

Privatize profits, socialize losses.

I’d rather Canadians who spent beyond their means, leveraged beyond their means, go insolvent. Short term pain > long term pain.

“Translation… We printed so much money that inflation is running extremely high and to curb it we will have to raise interest rates, creating stagflation!”

No. There’s too much private debt in the system. If the BoC raises rates too high, then Canadians will be forced into insolvency.

Yes it is, they’re all trying to temper the real estate market right now by pushing the psychology aspect.