As the U.S. economy approaches what everyone is hoping will be the “inflection point” at which the major indicators rebound, the international fetishization of Canada continues. Enjoy it while you can! Apparently, like some crotchety pioneer grandmother, we have the kind of stoic, hard-ass virtue that only expresses itself fully in a crisis. Everywhere, economists are wondering how Canadian banks managed to avoid most of the crummy securitized debt that is crippling other major democracies’ financial institutions. And they’re noticing that our big lenders held up pretty well through the Great Depression, too. It is our moment; but do we know exactly what advice to give others?
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