The great debt crash

[errolanderson]

Stunning decline in money velocity. Translation: consumers aren’t spending.

This is really tough news for retail as prices will continue to drop. Margins under pressure. Central bank policy has totally lacked forethought. Rates may drop sooner and faster (IMO).

Consumers have hit a financial brick wall, bankers won’t know what just hit them. More fallout in banking sector likely . . . .

[furrowtickler]

Stunning decline in money velocity. Translation: consumers aren’t spending.

This is really tough news for retail as prices will continue to drop. Margins under pressure. Central bank policy has totally lacked forethought. Rates may drop sooner and faster (IMO).

Consumers have hit a financial brick wall, bankers won’t know what just hit them. More fallout in banking sector likely . . . .

Like but do not like , government has been successful in decimating the middle class , the ones who keep the economy rolling . Been saying this for a long while .

[mcfarms]

It won't be just the city folks feeling the interest rate pain was told by a salesman at a pretty large dealership that out of his whole territory he had 5 farms only that were cash buyers of equipment.

[biglentil]

Mortgage in Latin loosely translates to mean death grip. They got the populace drunk on the nearly zero percent interest rates, the punch bowl has been yanked and now comes the nasty hangover. No different than what the privately controlled central banksters did to cause the 1930's great depression. They are well versed on fueling bubbles and popping them, they've been doing it for centuries. They profit and consolidate control on the way up and even moreso on the way down. To "6uild 6ack 6etter", tag words used by the likes of Trudeau, Biden, and many other NWO useful idiots the existing system must be destroyed before they can implement their ccp style social credit system based on a digital ID and CBDC.

[jazz]

Govt is still spending errol. Have you kept track on how much money little ol Canada spent in the last few weeks.

[biglentil]

The process towards Agenda 2030 and the WEF's technocratic stakeholder communism is being accelerated by crushing the middle the class under additional taxes like the carbon tax all while government spending remains unabated inflating the currency on everything but projects that will improve economic productivity and therefore the standard of living for the middle class. They prioritized spending to enrich themselves and their cronies, their goal stagflation and a wiped out middle class.

[errolanderson]

Govt is still spending errol. Have you kept track on how much money little ol Canada spent in the last few weeks.

You are right Jazz . . . . But for gov't's? A total trainwreck.

My disgust of central bankers mounting. Hiking rates at the worse possible time and then talking with a straight face to the consumer . . . this shock will be good for you, it will just hurt a little. Know, can't swear on agriville, but . . . . Bank industry in for a shock.

This will be a very deep prolonged recession / depression, call it what you want. 2024 and 2025 may be the deepest pullback in the economy.

[jazz]

This will be a very deep prolonged recession / depression, call it what you
want. 2024 and 2025 may be the deepest pullback in the economy.

errol, there are rumours swirling that all this is not by accident. That JP is fighting the great reset Davos CBDC crowd.

I never take anything at face value anymore. Something else going on here. Consumer might just be collateral damage in a bigger fight.

[errolanderson]

errol, there are rumours swirling that all this is not by accident. That JP is fighting the great reset Davos CBDC crowd.

I never take anything at face value anymore. Something else going on here. Consumer might just be collateral damage in a bigger fight.

Right on the money Jazz . . . . But manipulation (for those in power) has become a much tougher game to play.

[Old Cowzilla]

Rich people like the way the rules are now and you have to be rich to get into politics. Won't be long before people will be bragging they borrowed money for only 14% ....... just like the 80's. Steel still selling very well at Auction sales this week so must be some good crops or old musty money still hanging around.