One macro factor that we neglect too often to consider is that systemic risk to the financial system or to the economy generally is encouraged whenever the society concludes that the system or economy, whatever the case might be, is immune from significant risk.

Canada benefited significantly during the 2007-7 global financial & economic because our banking system had been well regulated & precluded from indulging in the excesses of financial instrument securitization during the preceding years.  Too many of us now assume that for the same reasons we are immune from risk (& some act recklessly in consequence).

More caution & prudence is warranted at the present time.