It's just been published that Canadian MoM Building permits were...

It's just been published that Canadian MoM Building permits were up last month a whopping 14% against an expected rise of only 3%, which confirms a housing bubble. The trouble is that CAN's economic growth cannot support the bubble. Its Ivey Purchasing Managers' Index (PMI), measuring the activity level of purchasing managers in Canada, came in at 47% against an expected 53%. A reading above 50 indicates economic expansion; a reading below 50 indicates contraction.

As housing prices rise, so does inflation...and yet given the massive and growing public & private debt levels, any raising of interest rates without the economic growth to absorb that business cost will drive Canada into recession.

This is a real and sizeable dilemma that the USA, Britain and other western civilisations will struggle with, from here onward. It's not looking good for the remainder of this year, and it's no wonder that Gold and Silver are holding up so well. We have not seen the last of their bullish run.

Expect this week a bust through 1330usd. Trading to it.