RBC's own annual profit last year was $3.4-billion, some of which it apparently decided to spend on getting its economists to send a warning signal about the perils of all this liquidity. The report warns that despite the record profits, Canadian companies are being outspent by their U.S. rivals on R&D and productivity upgrades, and that all those billions of loonies languishing in money market accounts turns our firms into foreign takeover targets.

It's interesting that the Royal Bank is making that much money in interest and other charges.

It just goes to show how much Canadians and other nations love their debt.