Toronto housing market is NOT cooling and there’s little incentive for HARD WORKING millennials to preserve The Current Canadian Welfare State! – Lazy Baby Boomers and The Welfare They Consume – August 6, 2021,

First and foremost let’s stop combining hard-working millennials with the millennials who do not work or pay their fair share. Secondly, let’s stop making these baby boomers and Generation X as if they’re not the people responsible for the modern Welfare State.

The Baby Boomers created this mess we’re in today, people keep saying socialism is coming to Canada, hey morons there are pictures with Pierre Trudeau acting real friendly with Fidel Castro Canada has been heading down this socialist road for a long time.

Oddly enough it was a Liberal government that cut the size of government in the 1990s, but this same Liberal government created the housing disaster we’re experiencing today. It was Stephen Harper who accelerated the housing boom and Justin Trudeau whose campaign promises included being more socialist than his daddy, compounded the housing problem, because now not only are housing prices inflated all across Canada, every price is artificially inflated in Canada.

What higher prices ultimately equate to are millennials having to work upwards to 10 times harder than their lazy baby boomer parents. I love how Baby Boomers and people in the Gen X cohort like to imagine they have nothing to do with the destruction of Canada or nothing to do with so many Canadian millennials being brainwashed into think socialism is going to benefit them in the long run.

If the housing market crashes, pensions are gone any perceived wealth both businesses and individuals think they have tied up in their homes disappears, in the modern era you have so many people and legal entities who are million and billionaires ONLY on paper and only because central bank interest rates are so low.

What most people fail to comprehend is that in a market economy, there are up and down cycles, inflation is GOVERNMENT creation, there is only one way to achieve sustainable inflation in a market economy and that’s via INNOVATION. This is some Milton Friedman taught everyone.

During the great depression, the only country that experienced a HYPER-INFLATIONARY depression was Germany and the reason Germany experienced hyperinflation was that their government instead of paying its bills with money tied to labour instead attempted to pay its bills by printing money.

In the rest of the world, prior gold standard laws had been created to deny governments that type of power. In order for Franklin D. Roosevelt(FDR) to pay for the failure called the “New Deal,” he had to confiscate the gold of millions of Americans. In Canada, back then our leaders were smarter, our leaders provided bank liquidity to Canada’s PRODUCTIVE private sector, which is similar to what we did to avoid a housing market crash when the U.S housing market crashed.

Prior to Pierre AND Justin Trudeau, it was common knowledge amongst ALL Canadians not to OVER-REGULATE the golden goose. But you see in the modern era, via Pierre Trudeau, we no longer have an honest media, we have a biased media and because the based media often only tells Canadians a portion of the story, most Canadians do not understand the problem.

With that said, in closing most Canadians do not know nor do they understand how economic deflation works. If the housing market stops inflating in price, and the cost of living doesn’t come down, which it can’t because most government employees, as well as pensioners and other people on welfare, have their welfare payments tied to the FIAT inflation rate, once asset prices start coming down, you have a financial crisis.

Bitcoin as an example has been around since the 1990’s the reason it didn’t take off then was because nobody imagined that central banks and the Federal Reserve would be trapped at a near-zero percent interest rate. Well, we’re here now, if the Bank of Canada NORMALIZES interest rates, the Canadian economy implodes.

Now, I have to use the word normalize, because it wouldn’t surprise me to see central banks raise rates a few basis points to move them back down again, but what I’m talking about is NORMAL interest rates, that REWARD HARD WORK If you’re not making at least $150K per year in Canada, you’re SCREWED, good luck buying a shoe box condo and even if you’re able to buy that shoebox condo, you’re going to pay a ridiculous amount of money for it.

Now, with that what’s so bad about this pyramid scheme housing market is that existing home and property owners, don’t see the big deal, because after all their house or property has inflated, they’ve been the beneficiaries of this socialist scheme.

In a market economy, people and governments can go BANKRUPT when they spend recklessly, in this socialist economy, those at the top of the pyramid stay at the top of the pyramid, and quite frankly it’s only brainwashing why this scheme works. But let’s not make it seem like millennials are to blame for this. The blame should be put squarely on Baby Boomers and their left-wing stupidity!

Posthaste: Toronto housing market may be cooling but it is still too hot for millennials | FinancialPost.com

Interesting times ahead!