UBS: Its time to short the US dollar

[Sen. Walter Sobchak]

7. I would't hold pocket change in Canadian dollars

I work in Canada and keep as little Canadian currency on hand as is practical. The Canadian dollar is going to plunge again.

Canada can't raise interests rates without blowing up the housing market. They're preparing to run huge deficits, Ontario is murdering it's industrial base with expensive "green energy" and Alberta's resource sector is going to lay dormant unless oil climbs above $80-$100 and stays there for several years. And even through they can't raise interest rates that doesn't guarantee the Canadian housing market won't crash anyways. The Canadian housing market makes California circa 2005 look prudent and stable.

Canada is pretty righteously fucked at the moment.