Dooney's Dictionary

Secret War

Ongoing in Canada since 1979 between Bond/Banking Sector (BBS) and Real Estate Sector. Unrealistic real estate profits depend on high rates of inflation and stable Real Interest Rates (see RIR), while inordinate BBS profits depend on low inflation and high RIR. Until 1988, Real Estate did very well. Since then, BBS has won every battle, which is why most of Canada’s major real estate developers have quietly disappeared into bankruptcy and the smaller ones all changed the names of their companies between 1988 and 1991.

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