The Current Prime Minister of Canada Justin Trudeau in blackface

The Current Prime Minister of Canada Justin Trudeau in blackface

More Signs of economic DEFLATION: Current Canadian Prime Minister Justin Trudeau Promises higher BANK and INSURANCE fees for customers if he wins the 2021 election – August 25, 2021,

I’m not sure if it’s overt corruption or ignorance, but Justin Trudeau’s ECONOMIC campaign promises all have serious financial consequences, so for people who might not understand how and why prices go up because of the government, Justin Trudeau spelled it out in his new campaign promise.

One of the reasons insurance prices are so high now is because of the prior government regulations, that were put in place to lower insurance prices. You see insurance and banking are all based on INNOVATION, if an insurance or a bank creates a new financial product AFTER Justin Trudeau hikes taxes on them, those entities will pass those new higher costs with Trudeau’s new regressive taxes onto their consumers.

If the tax is a fixed tax, well then that fixed tax get’s calculated into their new financial or insurance products. ICBC is the perfect example of how the government raising costs on Canadian consumers. Those who don’t know ICBC or the Insurance Corporation of British Columbia found a way to make BC’ers pay some of the highest car insurance rates in Canada? How did this happen because the ICBC REGULATED their competition out of existence!

Public banking and public mortgage insurance have been utter disasters for Canadians. The Canada Mortgage and Housing Corporation(CMHC) has been such a failure that the Bank of Canada can’t enact policy without considering the ramifications of what higher interest rates will do to the CMHC which is in the MORTGAGE INSURANCE business.

If the Bank of Canada spikes interest rates it puts the CMHC at risk because most of the mortgage insurances on the CMHC’s balance sheet are reliant on mortgage prices going up and with this new Bank and insurance tax on the PRIVATE BANKS and PRIVATE INSURANCE companies, the Bank of Canada might find itself having to bail out private banks in the event Canada’s private banks can’t raise their prices.

So this move by Justin Trudeau has economic deflation written all over it as it guarantees that bank fees and insurance prices are going to rise. Why I think this law is corrupted is because it wouldn’t surprise me if the private banks and private insurance companies championed this bill to boost their profits.

Trudeau promises to hike taxes on Canada’s big banks, insurance companies | CBC

Interesting times ahead!