By now, the only people in the world who are not aware that Vancouver has been overrun by Chinese "hot money-parking" oligarchs, who rush to buy any and every available real estate leading to such grotesque charts as the following showing the ridiculous surge in Vancouver real estate prices...
Roughly around the time the market troughed in early February, we asked "After The European Bank Bloodbath, Is Canada Next?" The reason for this question was simple: we said that "when compared to US banks' (artificially low) reserves for oil and gas exposure, Canadian banks are...not."
Stated otherwise, we warned that the biggest threat facing Canada's banking sector is how woefully underreserved it is to future oil and gas loan losses.
Submitted by Colin Chilcoat via OilPrice.com,
The United States and Canada work well together. The countries share the world’s largest and most comprehensive trade relationship, exchanging more than $2 billion per day in goods and services; the U.S. is Canada’s largest foreign investor and Canada is the third-largest foreign investor in the U.S. The partnership clearly isn’t broken, but it may need some mending as bilateral and international gas trade stands to complicate matters in short order.
A federal court ruling against the ban of growing medical marijuana introduced by the previous Conservative government, was confirmed by Canada’s new Liberal government on Thursday. It allows medical marijuana users to regain their right to grow their own cannabis herbs to fight common diseases that modern medicine cannot help with. Medical Daily reports: The federal government said Canada’s medical marijuana laws would be rewritten to reflect the court’s judgment, setting a deadline of Aug. 24 to finalize the changes.
“Housing in Vancouver is insane — it was insane when I left and it’s more insane now.”
That’s from 33-year-old Kevin Oke, co-founder of LlamaZoo Interactive who left Vancouver for Victoria two years ago because he couldn’t afford to buy a home in his native city even while earning a generous salary as a lead designer at a video-game company whose clients included Atari and Ubisoft Entertainment SA.