I'm sorry to cut you off, but I have very limited time.
I want to shift to Mr. Dodge. Thank you for being here.
We're seeing commentary from economists at several financial institutions talking about a recession or a downturn that is now all but avoidable. A strategist with Desjardins told the CBC, “The path forward looks bleak”.
Oxford Economics is reporting that the recession of the Canadian economy has arrived. Household debt remains high. Bankruptcies and solvencies are up. We now see banks increasingly preparing for loan defaults. Even BMO has shut down its auto loan unit out of concern for loan defaults.
I just want to get your thoughts on what this is signalling to you.