Canadians feel little pain of rate hikes so far – July 20, 2018
According to this Reuters article, Canadians are doing just fine with rising prices from every angle. Click the link below to read the article in full.
Only a few weeks into the rate hikes and already it appears the powers that be assume that Canadians aren’t feeling the pinch of rising costs from every economic angle imaginable. Luckily we have a great country with great people, that for the most part push economic issues to the back burner, well at least in public they do this. The interest rate hikes, in reality, aren’t going to affect people that work for a living the rate hikes are going to affect people that are living off the central banking system.
There are a lot of businesses that aren’t solvent, there are a lot of businesses where the fundamentals have long been off the table, there are businesses that require debt to service their costs and debts. Then we get into the consumer spending problem, there are rich people and then there are people that are pretending to be rich, there are a lot of consumers living beyond their means, a lot of consumers that have debt that requires their labor to get out of.
A lot of people that are one missed paycheck away from bankruptcy and these people don’t particularly look broke or in hardship, if you were to simply look at the numbers everything does look great and it should because the consumers in debt aren’t going to know how bad things are getting until loans or that they used to get easily simply don’t exist anymore. Canada is a great country in a very precarious situation, how long will with the trade war with America last? That’s real inflation Canadians are paying to protect the big businesses. There’s a lot of debt Canadians are carrying…
Interesting times ahead.
