Living Above Your Means Is Coming to End in Canada, either that or Hyperinflation! – October 24, 2018,

The State Media Crown Corporation of Canada the CBC wrote allowed an opinion piece to be written regarding debt. As many Canadians with any common sense have come to know, that Opinion pieces are typically the only CBC pieces that can typically have any substance and this includes both the left and right sides of the political debates. I do find value in even some Leftist Opinion pieces at the CBC because they give you a glimpse into how effective Globalist brainwashing has worked on a lot of Canadian. However, in this Opinion piece the writer Theresa Tedesco focuses on debt in Canada you can click the link below to read it for yourself.

The world of easy money transformed Canada into debt nation. That world is coming to an end

My opinion is that this all started under Jean Chrétien, flourished under Paul Martin and was sustained under the Stephen Harper government. The real contributor to the debt boom in Canada is CMHC. Low-interest rates are one thing, but insuring Private Sector profits via the taxpayers is something entirely different. It’s important that Canadians understand what CMHC is now, what it used to be and why it’s mere creation forces property values up artificially. Please read the following below:

In 1999, the National Housing Act and the Canada Mortgage and Housing Corporation Act were modified, allowing for the introduction of a 5% down payment—a change launched as a pilot in 1992, extended and finalized in 1999—removing a significant barrier for first-time home buyers. CMHC also expanded its activities internationally and launched the Canadian Housing Export Centre (later renamed CMHC International) to share Canada’s housing expertise with the world.

Housing affordability received a boost in 2001 through CMHC’s introduction of Canada Mortgage Bonds, aimed at ensuring the supply of low-cost mortgage funding and keeping interest low.

In 2002, CMHC was recognized for its innovative work, receiving the Conference Board of Canada’s National Award in Governance in the Public Sector, presented to boards of directors that have demonstrated excellence in governance and have implemented successful innovations in their governance practices.

You can read about CMHC for yourself at Wikipedia if there are people that tell you foreigners haven’t highjacked our Canadian housing market you may want to consider researching who those individuals promoting that propaganda work for.

I like to date my posts because online, companies often reword things in time to fit their own narrative. So whenever CMHC or any other Crown Corporation or Politician in Canada gets exposed they tend to change or remove the wording not only on Wikipedia but on their own CMHC website. Just a note in the event that when you visit this Wikipedia link Canada Mortgage and Housing Corporation if some of the wording has been changed.

Why this is worthy of considering when looking into why Canadians have some much access to debt while American’s as an example do not is that there’s a myth circulating that Canadian Banks aren’t threatened by a Chretien bubble. What is a derivative bubble you ask? A derivative Bubble is a money derived from real money. The world financial markets are based fractional reserve banking, which means that only a fraction of the world’s money being lent out is real. So If I leave $1 in real money into a bank, it allows the bank to lend out $10 into let’s say credit cards, Lines of Credit, Home Equity Loans, Mortgages. Now in some peoples minds, they think it’s better when the Government uses the taxpayers to reinforce the stability of that type of financial system.

The problem with this type of system is that consumer lending has to play a role in all of this because business people aren’t that stupid. I say this all the time that it’s my personal belief that every single Canadian should start or own a business at least once in their lifetime because when they don’t it’s hard for them to fully comprehend what’s going on.

In Canada Crown corporations which are state-owned enterprises owned by the Sovereign of Canada are the only businesses that don’t have to be financially responsible or competitive in the Canadian marketplace. So as an example you’ll notice that the people who strike most often are unionized Canada Post workers. Even though Male and Female UPS Employees don’t make as much money as Canada Post workers do for, the same type of work you rarely if ever hear about UPS workers going on strike.

The reason is even UPS employees understand that if their company is not competitive they’ll lose their jobs, at Canada Post the belief of their employees is that if Canada Post doesn’t find a way to pay us more money then the Federal Government via the Canadian taxpayer will have to foot the bill. This is the same attitude shared at most Canadian corporations such as the CMHC. The Canadian big 6 banks appear to be immune from a financial collapse because they didn’t need the same type of bailout the American and European banks required.

This is actually incorrect, but Canadians have been shielded by this because what happened in Canada is when the crash happened in the U>S in 2007-2008, the rules surrounding the Canadian big 6 banks weren’t tightened or overly regulated, instead Harpers government gave them a bailout and allowed them to find more creative ways to pay back the money and from there if Canadians remember we started to notice an influx of subprime lenders into our economy.

The other thing to realize is that Canada’s mortgage lending in regards to our big banks is very regulated and structurally sound, however, that’s not the problem, the problem is the subprime lenders in Canada, the Schedule 2 and schedule 3 banks operating in the Canadian economy. Those banks make up for a lot of the mortgages in Canada namely the condo buyers and they’re the problem once the world starts to shift.

It’s hard for a lot of people to imagine a form of credit not being there anymore. Like imagine you had a credit card and one day you got a letter in the mail or an email saying that ABC credit card company is no longer in the credit card business and your ABC credit card will be closed or inactive and you must pay your balance in full, or imagine you had a home equity loan and all of a sudden it wasn’t there anymore, or imagine you had a line of credit and the lender said that this financial product is no longer available? Imagine if your perception of wealth revolved around the concept of easy access to debt. What would happen to the way those people viewed the world?

That’s what is coming and it will be interesting to see how Canadians respond.

Interesting times ahead