How Coronavirus fears might Crash The Canadian Economy – March 3, 2020,
Well, what s currently an economic stimulus for the Canadian economy, might turn into an economic disaster as Canadians are going into debt stockpiling items preparing for the Coronavirus armageddon. Consumers love an excuse to overspend, I want to make sure I’m prepared just in case, most will convince themselves. Although there are billions of people on this planet and although currently there are only 90,000 confirmed cases, the assumption is that this is only the beginning and therefore it’s best to be prepared now.
Interestingly enough, although most of the blame should be on Trudeau and his policies, Trudeau will have a lot of excises in the event the Canadian economy crashes. But make no mistake about it, this economic stimulus is going to push a whole lot more Canadians over the economic debt cliff, in the event the Coronavirus is shown not to be as dangerous as most people imagine it to be.
Most of the time diseases like the Coronavirus existed long before it was given a name, but once the Coronavirus is branded the killer of humanity, especially during flu season, that’s when mass panic sets in and people start living like today were their last day on this planet. This is all well and good until things get back to normal, a killer disease is like a vacation from reality. If the zombie apocalypse is real I’m entitled to splurge on myself, the government is telling me to buy stuff and therefore I should.
Although the hysteria that has hit Canada also exists in the United States, Canadians are in a different financial position, most U.S States offer something economically unique, whereas in Canada, is that there’s a war on our energy sector and protestors are blocking railways, an economic downturn in which Canadians no longer qualify for additional credit, could equate to a very bad economic situation.
I hope Canadians understand what a modern crash looks like, a modern crash is a debt withdrawal, meaning that people will have to live within their means because the cost to service debt is above their ability to pay.
Interesting times ahead!