Chris Kuflik - ScotiaMcLeod Montreal

With the official arrival of winter quickly approaching, many of our clients have been forced to battle early snowfalls in places such as Europe and Montreal but the record snowfall of 100cm since Sunday in London, Ontario is incredible. This is also the time of year where investors are bombarded with predictions from economists and investment strategists for the next year.

There is currently a dangerous game of chicken being played on both sides of the Atlantic Ocean. The debt-ridden United States government is now flirting with the federal debt ceiling of $14.3 trillion. The European periphery sovereign debt problem, the PIIGS, which surfaced last spring, has once again been thrust to the forefront. This time, Ireland is reluctant to accept a bailout from the EU.