I dont much care for Zerohedge, but I think its becoming pretty obvious the commodity producers linked to Chinas growth are about to get punished.
This is our time to pay the piper. We, as a country, mostly skipped out on the deleveraging in 2008. I don't think that will be the case this time.
I continue to wait with curiosity to see if this has an impact on Vancouver and the rest of BC. For now, everywhere I go is busy, busy, busy. Money is changing hands and business seems to be as usual.
However, this has very familiar undertones to 2008. Few warning shots early in the year, and a perfect set up for catastrophe in the fall.
Ignoring the global implications, its easy to forget the current up cycle has lasted for 6, nearly 7 years. Wouldn't be unusual to have a correction/recession by now.