Yes, indeed. The claim that it's a global problem would seem to imply that it absolves the government or the central bank from doing anything about it. It's a global problem, because many countries have had very loose monetary policies well beyond where they should have tightened up. It's a global problem, because other central banks have also been very loose with their policies.
Our problem is made in Canada and can only be solved here. I find it to be a sort of a cop-out, the claim that it's a global problem.