Will Tiff Macklem give into Canadian Demand and Raise Interest Rates or Will He Continue to Finance Justin Trudeau’s reckless borrowing: Nearly half of Canadians support BoC raising rates to cool housing market – May 13, 2021,

If you’re 45 years or younger, living in Canada, you work for a living, meaning that you have a job or business and you don’t own a home, and you have little to no debt then there is absolutely no reason for you to want the Bank of Canada’s interest rates to be anything less than 5%.

Even if you’re a full-blown Marxist, why in the hell would you want to give away most of your wages and/or business income to help finance a housing sector that you’re probably not going to benefit from? If you believe in socialism, then you should be voting for HIGHER HONEST TAXES, the reason why the housing market is so high is that Canadians have been suckered into opting for INFLATION TAXES!

The inflation tax benefits the rich and the people who already own assets, honest taxation which is not derived from Justin Trudeau borrowing money from the Bank of Canada to buy things that Canadians will be forced to pay for with HIGHER PRICES comes from income taxes, sales taxes, and all the other regressive taxes that contribute to our already high cost of living.
Now, if Canadians want a big government, fine, but we need to pay for it HONESTLY! Have Canadians been looking at our financial debt?

CANADA’S FEDERAL DEBT
| debtclock.ca

It’s in the Trillions of dollars now and what this means is that more of our tax dollars will be used to PAY DOWN DEBT instead of being used to allow Canadians affordable housing.

The reason why I believe The Bank of Canada will Have Negative Interest Rates

Now for most people, they may not comprehend the correlation between public sector debt and the Canadian housing market. Well, one of the main reasons interest rates are so low is because of Canada’s Public Sector Debt. If the Bank of Canada raised interest rates, it would equate to the Federal Government being forced to make promises to voters it can actually afford.

A lot of Canadians are unaware that not all the money Justin Trudeau has promised has been spent, the problem is these future liabilities might be spent during a time in which the cost of living is skyrocketing thereby making the poor even poorer and the rich even richer.

It’s been very odd to many of us that Justin Trudeau’s Heritage Minister Steven Guilbeault who has a history of criminality is writing laws like Bill C-10 which appear to be coming after Canadians DEMOCRATIC right to complain about their government while Justin Trudeau is saddling us with all of this debt.

Tiff Macklem has the chance to be a Canadian hero, by getting this government’s spending under control, because as many of us know, in most socialist countries, their bankrupt socialist governments control the freedom of speech that can be published. When freedom of speech is controlled the average citizen will not know the reason why their socialist country is so poor.

a Market economy in a DEMOCRACY should not be created to ONLY benefit the Federal Government, a market economy is supposed to benefit ALL OF THE PEOPLE who contribute to it. The housing market and a lot of other assets, are the beneficiaries of the Canadian Federal Government almost appearing like it is dictating Bank of Canada policy.

Tiff Macklem has offered little to no push back to Justin Trudeau, there has been no penalty for Justin Trudeau spending recklessly. If Canadians want a big ole Welfare State, we should pay for it with honest taxes. If you’re a Canadian who works hard and you love the idea of Working Hard so that rich people and all the Canadians on Government welfare can enjoy the fruits of labour, well then pay for the welfare state with higher taxes!

If you’re a working Canadian with any common sense demand Tiff Macklem Raise Interest Rates, honestly interest rates need to jump to about 12% to get rid of all this malinvestment in the Canadian economy, but 5% for a prolonged period of time, would not only lower housing prices, it would also keep all of the bad actors out of the Canadian housing market.

What’s that you say, what about bankruptcies? Well, that’s the risk people take when they’re over-leveraged, there was never any guarantee that interest rates would stay near-zero forever. During no period of time did any central bank GUARANTEE that interest rates would remain near zero forever

All that aside, what I suspect will happen are negative interest rates Tiff Macklem has been extremely dovish, buying up government debt like it’s candy, whatever decree Justin Trudeau makes, Tiff Macklem via the BoC buys in, being that the Canadian dollar is rising, and may continue to rise for as long as Joe Biden continues to leave America’s borders wide open, charge Americans more for energy consumption, start wars in the middle east and create his own version of the Green New Deal well… all of that sounds like a debased U.S dollar to me.

A debased U.S dollar equates to a stronger Canadian dollar because as I’ve stated, Canadians aren’t paying for their welfare State with honest taxation, being that Canada is still under the British commonwealth, there are too many tax havens for Canada’s rich to go to, so if Justin Trudeau raises the corporate interest rates, Canadians with the means to do so will go to one of the Queens MANY tax shelter Islands (God Save The Queen).

Justin Trudeau will have to raise taxes on the working poor and middle class if Tiff Macklem grows a pair and begins raising interest rates. But again my bets are on the opposite, my bets are that interest rates will go negative. Canadians can prove me wrong by putting some pressure on Tiff Macklem to be a Canadian patriot.

I personally will speak greatly of Tiff Macklem if he does the right thing! Our country needs you Tiff will you be just another Stephen Poloz or will you have some balls and help to create a better future for our children!

Low interest rates have caused Canada’s housing market to skyrocket over the course of the pandemic, and a new poll by Nanos Research suggests nearly half of Canadians surveyed are somewhat in favor of the Bank of Canada hiking the key interest rate to cool the housing market. Nik Nanos, chief data scientist and founder of Nanos Research Group, joins BNN Bloomberg for more.
Nearly half of Canadians support BoC raising rates to cool housing market: Nanos Research | bnnbloomberg.ca

Interesting times ahead!