by Chris Horlacher, MapleLeafMetals.ca via DollarVigilante.com:
One typically doesn’t look to government bureaucracies for hard-nosed, objective discussions on the economy. Far too often official reports are skewed to paint a much rosier picture than what is unfolding in reality. Case in point, the repeated denials from Ben Bernanke and the Federal Reserve, Fannie Mae and various oversight committees circa 2006 that the US housing market was anything but an excellent place to invest your money.
So, imagine my surprise when the December 2011 Financial System Review, published quarterly by the Bank of Canada (BoC), landed in my inbox and I discovered that it contained a very sobering look at Canada’s economy and the many systemic risks we are facing! It’s not surprising that this report was not picked up by the main stream news, because if they did the popular opinion of Canada’s invincible, recession-proof economy, may begin to crumble.
Read More @ DollarVigilante.com
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