30% of Canadians can’t pay their bills according to report from accounting firm MNP Ltd. – January 20, 2020,
In the past, the way the Canadian personal debt related articles would be framed would sound something like this, Canadians are 1 paycheck away from Bankruptcy, well, now, the articles are being framed as Canadians can’t pay their bills anymore? It’s not even Right Wing blogs or Right-Wing news sources writing these doom and gloom data reports anymore, these reports are coming from Leftwing news outlets. These articles are being written before the Carbon taxes start to affect the Canadian economy. In France, we don’t hear much about their people protesting anymore, it’s old news and quite frankly most Canadians don’t speak french anyway(lol).
Thousands protest against new French bioethics bill ahead of Senate review | France24
But yea, the Macron Carbon taxes have created an sh*t load of problems to the French economy, which similar to Canada’s economy has a lot of Protectionist economic policies that almost mirror fascism, in which if the government doesn’t own industry it might as well own it, because unless France can institute some form of Austerity measurers (Haha! yeah right!) their economy similar to Canada’s economy is going to have some serious challenges ahead.
Once people become economic retards, there’s really no saving them, they have to learn things the hard way and chances are many of them will turn to violence and destruction before embracing or even considering that maybe, just maybe the free enterprise system is moral.
French police video of officer hitting protester sparks inquiry | BBC
But yes, I know, the immigration problem in France is a huge problem but mass migrants also moved to Switzerland and what the Swiss did was novel, the Swiss people said if you’re on Welfare or if you took welfare you can’t become a Swiss citizen. That’s what people who understand the morality of a Free Enterprise system do. Although I voted for Maxime Bernier in the last election, I’d like to make it clear, that I don’t think mass migration is the problem, the problem is we the Canadian people.
Prior to Justin Trudeau, Canada had what I thought was a pretty good immigration system, for the most part, the Liberals designed Canada’s immigration system, at the point we attracted the right types of people, however what’s been the end result is that a lot of the migrants that are in Canada today have heavily influenced our political system and the reason this has happened quite frankly is because old stock Canadians under Pierre Trudeau have done little to push back against their own economic protectionism.
Quebec is protectionist to it’s core and this belief that their form of protectionism doesn’t have any economic consequences has led many people in Quebec to think that the quick fix to prevent mass migration into Canada, no, unfortunately, there is no quick fix, the reality is Canada has a lot of job vacancies and in order for the Canadian government to collect taxes under this horrible economic system we’ve created for ourselves, we need to support these companies which are offering Canadians high pay.
The Canadian economy is no longer structured for the low wage earner, our economy is mostly built for high wage earners and if you know anything about the history of the middle class in revolves around people working in manufacturing, well, manufacturing jobs are leaving Canada and because of things like the high minimum wage laws in every province and protected industries which have no competition, the Canadian economy is built to create haves and have nots.
An estimated 35 per cent of Canada’s economy is protected from foreign competition, via rules, government intervention and varying interprovincial requirements, according to a new study by Fraser Institute, a Vancouver-based think tank.Protected industries: Why more than a third of the Canadian economy is walled from competition | financialpost.com
Sure, these protectionist measures are sold to Canadians as noble, you now because we don’t want those low-life American companies to take make many of our uncompetitive Canadian industries appear inefficient, so we put a blockade up and this all and well as long as well… as long as a moron doesn’t become Prime Minister of the country.
Now, in America, they made a man named Donald Trump as their President, This Donald Trump character has this interesting motto that says “America First”. Now, some say Donald Trump is an idiot, but for some strange reason, the Stock Markets love this guy, the stock markets love this Donald so much that the residue of their love benefits the Canadian economy. But there’s a strange thing happening in America, it appears more and more Americans are opening up to this economic concept called socialism, so Americans want to experiment with a change in economic policy, sure we who know better say please America, don’t it, but hey, some times idiots want to try things and you have to let them try it.
Now, in the event, America tries socialism, the Stock Market will react and begin pricing in potential Bernie Sanders or Elizabeth Warren economic policies and well, for Canada’s sake, let’s hope the credit markets don’t tighten up. Yes, this old news, but there’s still this thing in Canada called a housing bubble and unlike the American housing bubbles, the Canadian housing bubble has ties to our Federal Government, ever heard of CMHC?
Well, part of their promise is to use taxpayer money to bail themselves out of a financial crisis, of course, another Crown Corporation known as the Bank of Canada will be complicit in this and quite frankly I’m not sure what this means in the grand scheme of things, but Trudeau has been spending money like crazy so I’m honestly not sure, what will happen to the Canadian dollar with all of this, but with all the protections currently in place in the Canadian economy, my guess is the Canadian dollar will inflate and prices of goods and services will rise, now, it’s unlikely that the wages will rise to keep up with the price of inflation because I think Canadians forget we got an artificial pay raise in the 1990s.
Most Canadians forget that the value of the Loonie is where it is to appease Quebec and eastern Canadian Labour unions and protectionists. The value of the Loonie is supposed to be on or near parity with the U.S Dollar, furthermore, our cost of living should be lower, which also should serve us and our interest rates should be normal, the Canadian economy hasn’t crashed since the 1980’s I think.
But you do understand that the manipulations we made to our economy have consequences? When I was growing up banks and other financial institutions didn’t loan money to morons. Well, those days are gone now, I personally know a lot of idiots who own real estate who used debt as a down payment to purchase an expensive mortgage for a condo that refuses to appreciate in value(lol).
Sure I don’t know, maybe we can create 100-year amortization and a whole bunch of other financial wizardries, I don’t know, I don’t even care, but if you work for wages in this country, understand that the credit markets will destroy your quality of life. When the inflation hits and unionized government workers get a pay raise that keeps up with inflation, people in the private sector will be faced with what already appears to be happening now. The prices are all out of whack and well, people like me will get ignored. So all I can say is be prepared Canada because the financial times are changing.
Personal finance poll finds one-third of Canadians can’t cover their bills | HuffingtonPost.ca
Interesting times ahead!