Q: Some market chatter from MT Newswires found on TD. It says: 'Crescat Capital sees the Canadian economy heading for recession as the housing market buckles. "That might be bad enough for the banks but they face an added strain: outside the financial sector, more than 80% of Canadian companies aren't generating enough cash to support their businesses, the highest in the world," according to Crescat.
"Canadian banks will be left holding the bag and the ones to suffer from what is likely to be a major economic recession," Tavi Costa, a global macro analyst at Denver-based Crescat, said by phone.'
I was wondering about these 2 issues they raised, especially about the lack of cash.
Thanks in advance for your views.
"Canadian banks will be left holding the bag and the ones to suffer from what is likely to be a major economic recession," Tavi Costa, a global macro analyst at Denver-based Crescat, said by phone.'
I was wondering about these 2 issues they raised, especially about the lack of cash.
Thanks in advance for your views.
