JPMorgan CEO Jamie Dimon Warns Americans’ Pent-Up Savings Will Deteriorate in Canada Consumer debt ALREADY climbed 7.3% from last year according to Equifax #LateStageSocialism – December 7, 2022,


When I created the term “Late Stage Socialism” because I knew the central planners would REDEFINE recession most politicians do not want to be the politicians of austerity, and this is why it typically takes about ten years before a Ronald Reagan figure comes along. Donald Trump supporters are some of the most annoying people when they compare PRESIDENT Donald Trump, and Ronald Reagan; 2016 Presidential CANDIDATE Donald Trump had Reagan-like politics, but President Trump is a unique figure amongst U.S Presidents.


As of the date of this publication, the Federal Reserve has hiked rates SEVERAL times under current President Joe Biden, and Biden has yet to complain about it, whereas Donald Trump began to complain when Jerome Powell raised rates a few basis points under Ronald Reagan, Paul Volker raised rates into the double digits, not a complaint from Reagan, who used higher rates as an excuse to SHRINK the size of the government.

Donald Trump, who apparently had the best economy in the history of the world, appeared to have wanted to rule like a DICTATOR, at least from the perspective of those of us who pay close attention to the economy and finances, and this is one of the reasons Trump made enemies with the WRONG people. All that aside U.S. is only set to lose their savings in 2023, whereas in Canada, savings rates have ALREADY disappeared, Canadians are ALREADY in record levels of debt, and we haven’t even hit 2023.

Opinion: The Parliamentary Budget Officer just debunked climate alarmism |

One problem that both Canada and America face are “progressive” politics related to energy, The Democrats and Liberals not only believe that man-made climate change is real, but they also want the government to do something about it. Left Wingers have always been known for having EXTREMELY LOW Financial and Economic IQs, mainly because the Leftists love figures like Karl Marx and John Maynard Keynes, who believe in government interventionism into the economy.

If individual struggles to comprehend Austrian Economics or if a person imagines Libertarians as people who are merely promoting Anarchy and Austerity, said individual will be FORCED to imagine interventionists/central planners as not only more compassionate but also more virtuous, so during periods in which austerity is necessary it should surprise NOBODY, when voters even in the face bankruptcy opt to GROW the size of the government.

Toronto home prices fall as sales decline 49% in November |

What separates Canada from the United States is the size and INFLUENCE of Canada’s Federal government; in America, if we’re to be honest, the only reason Joe Biden is able to create economic DEFLATION is the FEDERAL regulations he’s able to impose on DOMESTIC energy production. If Joe Biden was not allowed to regulate U.S. energy, the Democrat climate change agenda would ONLY be affecting the Democrat-run States.

On the flipside, Canadian interventionism politics is FAR-FAR-LEFT, in that Canadian real estate is in many fueled by FEDERAL government entities, which is why real estate prices ALL OVER Canada are inflated, whereas real estate prices in the United States are primarily inflated in the Democrat Run States and cities in which price controls and regulations are all the rage for STATE and MUNICIPAL revenues.

Real estate market ‘slightly tipping toward the buyers’ as sales plummet 42 per cent in November |

Canada, on the other hand, based on my analysis, is going to be faced with a SERIOUS Canadian dollar DEBASEMENT problem, as there are too many PRICE CONTROLS that are going to be UNDERMINED by a DEFLATING economy. In the modern era, most people don’t think of the Minimum wage as a PRICE CONTROL, most people don’t imagine Rent Controls as a price control, and it’s this type of thinking that most people have a hard time comprehending consumer price inflation.

Making matters worse is the confusion most people have between the PRIVATE and Public sectors of the economy. In the private sector, if a PRIVATE business can’t profit from the price of labor, said private business will cease to exist, whereas, in the public sector, especially the UNIONIZED public sector, price gain for FEDERAL workers could be INFINITE because, after all the Bank of Canada and the Federal Reserve are CENTRAL banks, which exists primarily for the benefit of the FEDERAL GOVERNMENT.

The Bank of Canada is a FEDERAL CROWN CORPORATION(state-owned enterprise), and the name Federal Reserve should tell you everything you need to know about what section of the government benefits from it’s existence. The existence of the Foreign exchange markets often confuses people who imagine that just because the U.S. or Canadian dollar are strengthening, consumer prices should be coming down; nothing is further from the truth.

Consumer debt climbs in Canada, up 7.3% from last year: Equifax |

Consumer price inflation revolves mostly around DOMESTIC economic policies, and once you understand this, you start to comprehend why Canada COULD be in far worse shape economically than the United States. In Canada, because of the influence of the Federal government, if the Federal Government hires a bunch of idiots to enact ideological economic and financial policy, the ENTIRE country is affected in almost the same way.

In Canada, part of the current Prime Ministers’ Economic Policy revolves around VOTE BUYING. Current Prime Minister Justin Trudeau, has basically been buying votes since becoming prime minister and his supporters LOVE him for it. The article below points out that Justin Trudeau’s cabinet is sympathetic to Canadians who SCAMMED the Federal Government for Covid Relief payments.

Federal government paid $4.6 billion in COVID-19 benefits to people who were not eligible: AG |

Now, Canadian media is biased towards the Liberal Party of Canada, so the term most Canadians are aware of is the Canada Emergency Response Benefit (CERB), but because the mainstream media doesn’t want to trigger anger, they’ve started to use the term “COVID repayments.” Even I didn’t now what Covid-19 repayments were. I had to research what Covid-19 benefits were because I hac never heard of the term before, but if you like central planning and big government, you like it when the “Good Guys” have your back

‘We’re being compassionate’: Minister responds to AG report critical of COVID repayments |

Anyway, I bring this up because all of these additional COSTS for taxpayers are piling up. The cost to SERVICE rising debt levels in Canada continues to get more expensive. I remind you that as currency is debased, even if the central bank lowers rates, the higher AMOUNT that a person needs to borrow makes for a very SLUGGISH economy as FEWER people will have money available and higher prices actually equate to higher borrowing amounts offering LESS purchasing power.

Currently, a loan for $30,000 is a decent loan amount, but let’s say a liter of milk in the future costs $12, and the average price for a condo is $900,000 all of a sudden, the purchasing power of $30,000 in the future is the equivalent to $12,000 right now. Why this is concerning is that this is how DEPRESSIONS happen, this is how outsourcing happens, this how a sluggish economy is created.

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How to solve this problem is AUSTERITY MEASURES, namely FIRING a lot of government workers and selling Federal, Provincial and Municipal agencies to the private sector that have served their purposes. If you think the world has not reached this level of understanding yet, I agree with you; the world currently likes Big Government, which for me, indicates that we’re going to learn things the hard way.

What I’m curious to find out is if the Canadian economy is one of the first casualties of the Progressive agenda, I should point out also that if a Conservative political hopeful doesn’t comprehend that MASSIVE cuts to the size of government are ABSOLUTELY necessary, don’t be surprised if the Republican or Conservative federal politician makes the situation even worse.

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I’ve listened to both Donald Trump and Pierre Polievre, and both don’t appear to want to make AUSTERITY part of the platform, meaning that a Conservative politician could be blamed for what I believe is potentially the coming economic collapse. I at least hope and pray that when the collapse arrives, those in charge will be smart enough to use the crisis as a reason to shrink the government.

JPMorgan Billionaire Dimon Warns Americans’ Pent-Up Savings Will Deteriorate—Fueling Recession Next Year |

Interesting times ahead!