“The only thing that is constant is change.”

Welcome back all and I hope you all enjoyed the Christmas season.  I know that may be somewhat politically incorrect to evoke Christ’s name during and after the holiday season.  Here’s my view on that, oh well.  I celebrate Christmas and if I say Merry Christmas, and someone responds by saying Happy  Hanukkah or Happy Big Bang Theory Day, I won’t be offended.  So let’s dispense with political correctness of Christmas past and focus on the future.

Things to look for in 2013?
As a start who will be in charge at the Bank of Canada.  Mark Carney’s reign is coming to end by mid-year so it will be interesting to see who his replacement will be; someone with “star power”?  Or a bureaucrat who goes about his business in the shadows?  The Globe is reporting that the Finance Department is not saddened about Carney’s departure.   According to the Globe, “Though the finance minister has worked closely with Carney and had helped catapult him into the exalted job of central bank chief in 2007, the once-tight relationship deteriorated in the following years as Carney’s star power threatened to leave Ottawa’s political class in the shadows, sources said“.  How juicy, how Entertainment Tonight.  I can see how Minister Flaherty might have been a little perturbed.  The Minister is an elected official whom the voters can turn on if things don’t go according to plan.  On the other hand the head of the Bank of Canada takes no political risk and benefits from a bigger payday in another country. 

Another thing I will be watching for is the treatment of CMHC in the press. When and why did it become fashionable to treat CMHC like a Pinnate?  I get it, when you get big enough you take your blows deserved or not.  When you’re big enough you become a lightning rod (for illustration look to the dominant technology provider in the broker space, as well as the National Association).  But CMHC has been around since 1946, dedicated to home ownership in Canada, and yet now the scope of their responsibility is being questioned in the press.  By appearance this looks to be a case of fixing something that isn’t broken.   Or it could simply be a case of CMHC running up against powerful enemies who whisper sweet nothings into the ears of the press?

Of course we’ll all be watching for signs that economies, be it ours or around the world, are starting start to garner some momentum. Then again that’s old news, that watch began in 2008.  I have no doubt that 2013 will be another interesting year for all of us.  The only thing that is constant is change.

Until next time,

Cheers.