There should be no doubt that instability in the region should have a profound impact on the long-term risk assessment globally.

When in doubt, risk it

Looking past the short-term price risk inherent in essentially any asset -- real or financial -- there is little doubt that housing represents a good long-term investment. Since the mid-1950s, real home prices in Canada have increased, on average, just over two per cent per year … . Of course, home ownership also carries intrinsic value beyond its investment potential, including lifestyle benefits.

There's no doubt that the economy is emerging from deflation, and is at little risk of slipping back into it.

Laugh at yourself, but don't ever aim your doubt at yourself. Be bold. When you embark for strange places, don't leave any of yourself safely on shore. Have the nerve to go into unexplored territory.

I doubt this changes the dynamics but if it does, we'll probably never know it.