Bank of Canada: $500 Billion Wiped off Canadians Paper Wealth.

The FP is saying Canadians have lost $500 Billion In Wealth (Predominately in Real Estate). They think there is a silver lining and you will laugh at it. As a recession is essentially here the Bank of Canada is still completely clueless about what is happening with households and businesses. The drop in paper wealth is the biggest drop since the last quarter of 2008.

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