Worthwhile Canadian Example

Those who blame the Fed for keeping interest rates too low too long have to explain why Canada, which basically had the same interest rate experience we did, didn’t have anything like the same problems. So what’s Canada’s secret? Regulation, regulation, regulation. Much stricter limits on leverage, much stricter limits on unconventional mortgages, and an independent consumer protection agency for borrowers.

Worthwhile Canadian Example – Paul Krugman Blog – NYTimes.com

Someone should explain The Austrian Business cycle to the Canadians. Clearly their stability is impossible and is likely a commie plot.