Universal Basic Income or Bust? Justin Trudeau’s response to COVID-19 prevents personal bankruptcies in April 2020 – June 4, 2020,

I personally thought that Canada had some pretty good banking regulations regarding qualifying for a home, it shocked me when I heard that after only one month of shutdowns, a large chink of Canadian mortgage holders couldn’t pay their mortgages.

Now, again, I didn’t say renters, I didn’t say, commercial leaseholders, no residential mortgage holders after only one month of COVID-19 couldn’t make their mortgage payments. If you have online banking in Canada and you log in, most of the banks have links to mortgage deferrals, this news should be frightening to Canadians, but of course, it’s not, because in the minds of Canadians the government will fix this problem.

The sign has been clear to me for years, that inflating our way out of this mess is what’s going to happen, but I don’t think Canadian comprehend what that means for the cost of living in Canada. Canada is consuming a lot more than it produces now and chances are this will accelerate in the years ahead, which really hurts the domestic population who will be using Canadian dollars.

The government can raise taxes, but business people and the highly educated private-sector workers aren’t as stationary as people dependent on Government. As an example, I’m keeping my options open, I stepped hoarding Canadian dollar years ago, even if the Canadian dollar appreciates in value, the economic policies in this country are dire, so any appreciation will be consumed by government.

To show Canadians how bad the situation is, in April Personal Bankruptcies in Canada fell to a record low, why? Well, a few reasons, one is obviously the free money Trudeau gave away, the second is this has been a wake-up call to a lot of people, when you’re forced to make cutbacks in your lifestyle you start to recognize what you don’t need.

What may start happening is people might start saying we don’t need a big government! The cost of living in Canada is expensive primarily because of big government. I’ve stated this plenty of times, B.C should be easily Canada’s richest province, it’s poor because Voters like fatten the wallets of their government.

It’s usually not until you realize that your government is going to get a pay raise while you the voter do all the heavy lifting that people will be forced to change. I have family in the medical profession and they were recently handed a long list of additional regulations they have to adhere too.

The medical professionals will do all the heavy lifting while their government leaders send them motivational speeches! How long Canadians will remain ignorant of what’s going on is beyond me! But the private sector is about to be handed a huge bill by the government and I can’t imagine they’ll be happy about it!

Personal bankruptcies fell to record low in April, but could be poised to soar | CBC

Interesting times ahead!