TD and Royal Bank raising mortgage rates

If you’re interested in reading the article for yourself click the link below:
http://business.financialpost.com/pmn/business-pmn/td-bank-raises-5-year-posted-mortgage-rate-royal-bank-also-upping-rate
The schedule 1 banks are raising their rates and leading the way are TD Bank as well as the RBC, eventually The five largest banks in Canada will all raise their rates and the reality is who really cares, it’s not like majority of Canadians are getting loans from the The five largest banks in Canada anyway, the average person doesn’t qualify and if they do big deal right? The truth is and this is the interesting part, the Bank of Canada is losing it’s grip on the financial sector, it’s starting to not matter what the Bank of Canada does anymore, that’s the thing with Liberal politicians that like deficits, you see when financial institutions know the have you by the nuts they’ll squeeze.

I’ve been saying this for years, America being our neighbour and are largest trading partner has it’s pros and it’s cons, the pros are if Canada gets away with a lot of socialism it otherwise couldn’t get away with if we didn’t have such a convenience of be neighboured by the most powerful nation in the world, think “aboot” this for a second. Canada does’t have much of a missile defense, militarily in Canada we save a lot of money because America does a lot of our heavy lifting, in Canada we’ve been undermining NAFTA in a variety of ways, we manipulate our currency and protect many of our industries for U.S competition.

That aside the con to all of this is well we don’t have the worlds reserve currency, Canada has one of the worlds reserve currencies but try taking your Canadian loonies or toonies outside of Canada, present it to foreigners and watch the bewilderment in their faces, then pull out a U.S dollar and notice the familiarity they’ll have with it.

The Liberals mainly because of Trump makes Canada nt the best investment opportunity, to make matters worse Canada’s hot real estate centers are now under heavy scrutiny, I’ve complained about the Toronto housing market but my basis of argument revolves around the fact that Canada’s housing market is subsidized by Canadian taxpayers. Personally I think the real estate market showed boom, I also think Landlords should be able to charge whatever they want for rents, but I believe in the market system allowing the market to weed out the stupid capitalists, I don’t believe in this government regulated, welfare subsidised system.

So for someone like me I completely get what’s going on and what’s going on right now with the The five largest banks in Canada is they don’t care what the BoC does and they’re not going to care until the government does something and if the government adds new rules, guess what the BoC might be forced to do, they BoC may have to hike rates faster. Trudeau’s Liberals are behaving like this is the 1990’s and it’s not the world has changed and well it’s all a matter of time before canadians realise that they’re going to have to pick there poison is it hyperinflation or is deflation, if the BoC and the government to choose one there will be an economic collapse coming to Canada.

Interesting times ahead.