Cole's Notes - The Sunday Journalist

This perspective on the US loan crisis – does make me glad I’m not living there – as does this post from the National Post. A prudent, risk-averse, well-regulated Canadian real estate and mortgage community that — on both the seller, mortgagor and buyer sides — has avoided the pitfalls swallowing up the United states. And when I think of my situation – where my mortgage is up-to-date and will be done in a couple of years – this rough patch will pass. 

The federal government has no right to buy, to insure, or to invest in private property in order to stabilize the marketplace (or worse, reassure international markets) or for any other reason.   The next time our own politicians talk about “managing the economy” they need to be reminded about the limits of the political class.