Cut the music! READ this, from zero hedge

http://www.zerohedge.com/article/frank-discussion…

"Finally, and most interesting, Frédéric and Benoit agreed with me that the Canada bubble will burst and that Canada's mortgage monster stands to lose billions and is in a very tenable position. According to Benoit: "Too many people are way over-leveraged, are mortgaged to the hilt buying houses they can't afford, and they risk getting killed when they lose their job or if rates rise. If we suffer a slowdown that is just 20% of the US slump, we're in big trouble. It's simply not true that real estate prices won't get hit in Canada; this isn't the 1970s, and people are in for a shock in the coming decade."

@ Li Kai – you sweat hog…that one made me laugh, I admit it!

But remember I ain't no pool cleaner, boy. Sure I drive a truck with balls hanging from the rear, I have a mullet, I own a pit bull, and even live in Whalley… but I studied at the London School of Economics and MIT … ever heard of it? Its a school in Boston.

I'll teach you a thing or two about economics… you me Saturday, we hang outside an Penningtons and pick up some fat chicks. First lesson Demand and Supply: Fat chicks more supply than demand!

Hit the Sweatin to the Oldies music!

@ Li Kai Shing Listen up fraud. The old country you left behind is getting uglier by the second. And, I live in Whalley I see uglies all the time! China’s $1 Trillion Debt Seen Toxic as Cities Value Land at Winnetka Level – bloomberg "Loudi, home to 4 million people in Chairman Mao Zedong’s home province of Hunan, is paying for the project with 1.2 billion yuan ($185 million) in bonds, guaranteed by land valued at $1.5 million an acre. That’s about the same as prices in Winnetka, a Chicago suburb that is one of the richest U.S. towns, where the average household earns more than $250,000 a year." And even more "More than 400 billion yuan of municipal bonds sold since 2008 — part of as much as 14.2 trillion yuan in local borrowing — show how much… Read more »