A former Wall Street trader says there are five challenges facing Canada’s economy:
- A series of policy errors made by the Bank of Canada after the financial crisis.
- Home prices in Canada have risen even more dramatically than in the U.S.
- Current consumer debt levels rival those in the U.S. eight years ago.
- The loonie is overvalued based on interest rate differentials.
- Canadian bank stocks are highly overvalued.
Jared Dillian, editor of The Daily DirtNap and author of Street Freak: Money and Madness at Lehman Brothers joins BNN to share his thoughts on Canada’s housing market, debt levels and the BOC.
via BNN Video