MRB on WP – July 7, 2020
The report “Canada on thin ice as it heats up” by Macro Research Board (MRB) Partners paints a bleak picture. It says that Canada has followed global trends in falling into a ‘sudden stop’ recession with high unemployment and a plunge in activity. It says that Canada is more exposed than most economies, however, because of “an unstable real estate bubble and household credit binge.” MRB’s founding partner Phillip Colmar told WP that Canada is due for a deleveraging cycle after years of a consumer credit ‘binge’ with widespread ramifications for Canadian equity markets and Canadian investors.