Canada really only has four business. It sells Oil, recently below cost for as little as $11 a barrel, it sells rocks and trees (not selling well now, except gold), It has 5 bloated bureaucratic banks (globally exposed, over-expanded and in trouble) and it launders huge piles of money through real estate -- that is finally coming to an end. Not surprisingly the country is in the tank.

One example of how bad things have become, in 1998 over 30% of the TSE public companies were technology firms, today it is less than 1/2%.

According to data from the Office of the Superintendent of Bankruptcy Canada, insolvencies climbed to 11,641 in October, a 9.2% rise compared to the year prior. Even more alarming, month over month this rise was up a staggering and somewhat inexplicable 16% this October.