It should become quickly apparent over the next two quarters that the health of the economy is not what we would wish.
Increasing the amount of QE in the system four times has simply bought some time for both American and Canadian economies and stock markets.
Now that time is rapidly coming to a close.
The stock market is peaking.
The Canadian economy is slipping.
Unemployment is rising as traditional jobs become scarce. Perhaps out of necessity we are seeing an increase in self-employment.
The next big hit to the Canadian economy should come when the price of oil falls substantially.
The price pattern on the charts implies a drop in oil to the low $80s.
While it may take six months to play out, the implications for construction related energy jobs is rather dim.
Once this kicks in, expect the over-inflated Canadian housing market to finally crash.