BoC hikes interest rates the economy is strong, Justin Trudeau’s Deficit spending Rises, Is Donald Trump Perfect fall guy? – October 24, 2018,
Well as expected the Bank of Canada raised interest rates, their excuse was that the Canadian economy was strong. Of course, we all know it’s a pile of crap, the main reason the Bank of Canada raised interest rates is the Federal Reserve has interest rates at 2%. The U.S Fed rate is having a serious impact in Canada because most of Canada’s big banks don’t have their money in Canadian dollars. Most Canadian banks don’t even pay much attention to the Bank of Canada if people remember when the Canadian housing market didn’t crash too in the same manner as the U.S there were calls for the Bank of Canada to lower its interest rate, and once the price of Oil dipped if everyone remembers the BoC lowered their interest rates and then lowered them again.
If Canadians remember under Stephen Harper the Canadian dollar reached Parity with the United States and it would have stayed there had the corporatists in Canada not demanded that Stephen Harper lower the loonie. So Stephen Poloz was hired and the first chance Poloz got he lowered interest rates thus lowering the Loonie and then the housing market in Toronto took off, housing became less affordable and now finally Poloz has the chance of a lifetime with Donald Trump to somehow find someone to blame the financial crisis hits Canada.
Donald Trump is the perfect fall guy for the coming economic collapse!
If you’re reading this and you’re Canadian, this is the time you need to vote. This coming election is very serious, it actually doesn’t matter who wins, what Canada does not need is a Liberal majority. I’m not calling on Justin Trudeau to win a second term, however if he does win a second term make sure it’s a majority, because when this collapse happens more than likely he will bail out the corporations, the banks, and everybody else and we the taxpayers will have to pay for, the same is true if the Conservatives win a majority. The Conservatives showed where their loyalty lied when it comes to supplying management.
What’s important for Canadians to understand with the coming economic collapse is what market is going to collapse. If you have Canadian dollars hidden under a mattress or if you have physical cash on you, if you’re not in debt, you’re not going to be affected much by this coming crash, in fact, you might be the beneficiary. The people who will be affected are the people in the derivatives market.
In simple to understand terms people with million dollar mortgages, they’ll be affected by the crash, the people and businesses dependent on loans to survive, they’ll be affected by this crash, the people in the debt trap they’ll be affected by this coming crash, pensioners will be affected by the coming crash, but that’s not what the politicians will tell you.
When Barack Obama bailed out the auto and banking sectors the truth is if he didn’t do it nobody would really notice a difference in their day to day lives in the United States. Because the Federal reserve and Barack Obama bailed out the U.S economy hedge funds and other companies were able to flourish.
It’s very important to understand that the bailouts revolve around Pensions, it’s not really the housing markets that governments care about it’s elderly. The elderly vote and they vote in large numbers, the elderly are heavily dependent on the government for their survival and the truth is that’s why countries bailout banks.
However, when it’s happening other entities who will tie themselves into the totality of the bailout which is why a lot of Canadian banks were bailed out when the last economic crash occurred. What people need to understand about pensions is that it’s a myth, the government really can’t take care of the elderly they’re supposed to take care of themselves, but you see if as a government you’re asking people to be financially responsible you can’t create a consumption based economy.
In China, based on their history they are known as some of the best savers in the world. The Chinese don’t finance cars, the Chinese don’t invest in depreciating assets and the Chinese don’t expect the government to take care of them. In Canada the expectation is that our government will take care of us, that’s what a lot of people vote for.
I know a lot of us conservatives believe that Justin Trudeau will be voted out, but what you should do prior to thinking like this is talk to some elderly people, I’ve done a lot of charitable work throughout my life and well, the elderly are a lot more selfish than most people can imagine. Most elderly people look out for their own personal self0interests and if they’ve been voting Liberal for 50+ years they’re not going to stop just because their current leader is a moron.
Why I say all of this is because the BoC raising interest rates is a sign that the writing is on the wall that change is coming. Trump is the perfect fall guy if the economy crashes. Trump has done a lot and when this economy crashes people will blame him, even though the truth is it’s not his fault. I advise you if you’re reading this to consider holding more physical cash, even consider purchasing some Gold or Silver.
Interesting times ahead