Sears Canada is seeking bankruptcy protection, closing 59 more stores, slashing payroll. There are no white knights, expect pennies on the dollar for creditors and even more pressure on Sears Holdings USA.
Meanwhile Canada has world's fastest growing private debt, largely household, that could set up a property value meltdown that could extend into small business. The Bank for International Settlements (BIS) puts them in the category of likely financial crisis.
Warren Buffet is going to extend credit to Canadian lender Home Capital Group. It goes without saying the money comes with strings attached.
Analysis, the Canadian economy is over-extended and ripe for a crisis. We have sold our Canadian bank stocks and trimmed EWC, our Canadian ETF.