Let's see - the Southern Ontario housing market on fire. A substantial percentage of Canadians feel a lot richer. Why not the new SUV. How about that boat you've always wanted. Dinner out? Sounds good! Compare to the U.S. from 2004 to 2007. With wages basically stagnant, where is all this consumer spending coming from? The more things change...... U.S. growth in the early to mid-00's was one percent until you add in that the remaining 2-3 percent was from borrowed money by the newly 'house rich'.