The great debt crash

[jazz]

How many people took their govt cheques and bought a house with it. Now 1M people have to pay it back and the govt is clawing their benefits to collect it.

Welcome to your marxist trial. I can believe how stupid people in Canada actually are. They deserve everything coming to them, no quarter, you voted for it, you can own it now.

[Sodbuster]

'Inflation' is now being hit head-on by the 'Great Debt Crisis'. Asset casualties beginning to drop on the sidelines. Layoffs apt to pick up into next quarter.

Timing of interest rate hikes couldn't be worse. Central bankers and academia have been bred to preach Keynes economics.

My apologies for sounding pissed, I am . . . .

The government is at fault they’re the ones that created this low interest environment now they have painted themselves into a corner by ignoring inflation for far too long. The biggest reason that housing got So High was because of low interest rates made bigger and more expensive houses affordable for people who otherwise wouldn’t be able to afford these houses. Land falls into the same category. If mortgage rates had stayed at 5% or more we wouldn’t of been in the $hit storm we’re about to experience.

[wheatking16]

The government is at fault they’re the ones that created this low interest environment now they have painted themselves into a corner by ignoring inflation for far too long. The biggest reason that housing got So High was because of low interest rates made bigger and more expensive houses affordable for people who otherwise wouldn’t be able to afford these houses. Land falls into the same category. If mortgage rates had stayed at 5% or more we wouldn’t of been in the $hit storm we’re about to experience.

Governments contributed to the low-interest rate environment, not just one, with the US being most influential currently with a lower interest rate than Canada.

It is easy to pick a scapegoat, however, the reasons are not that simplistic.

If Canada did not play the game, each of our financial situations would be worse off.

I believe the chicken will come home to roost, not only in Canada but elsewhere.

The impact on Canada needs to be on a relative basis and CAD has performed well against USD for the past six years and will likely outperform over the next several years.

[errolanderson]

Heavy. heavy selling tonite in financials. Cryptos appear collapsing. Liquidity concerns heard in China.

[jazz]

Quebec pension fund invested in crypto, and now losing big time on it.

[furrowtickler]

Trudeau will use the carbon tax slush fund to prop up the Quebec pension funds .
Probably on an emergency order ….

[Hamloc]

Everyone blames Keynesian economics for today’s financial mess. I tend more towards MMT. Economists like Paul Krugman preach that government’s can spend at will, that government debt doesn’t matter. That taxes can be used to control inflation, raising interest rates isn’t necessary and money is almost free because interest rates will stay low forever. That reality is going out the window!!!

[furrowtickler]

https://youtu.be/qkujMSZoaoQ

[errolanderson]

Everyone blames Keynesian economics for today’s financial mess. I tend more towards MMT. Economists like Paul Krugman preach that government’s can spend at will, that government debt doesn’t matter. That taxes can be used to control inflation, raising interest rates isn’t necessary and money is almost free because interest rates will stay low forever. That reality is going out the window!!!

Krugman is Mr. Keynes . . . .

[Hamloc]

Krugman is Mr. Keynes . . . .

Keynes from what I understand preached repayment of government debt when economic growth returns. Krugman doesn’t from what I have read ever discuss debt repayment. His only concern is government not spending enough!!!!