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Jun 5, 2023 | 18:28
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To be honest , there is only one option out of this financial catastrophe for western Canada now .
Canada is going so far into a hole so fast and throwing away the life ropes to even try to get out.
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Jun 6, 2023 | 12:24
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inflation?
seems the way to me. but wages have to go along with it for the middle and lower classes to survive, and so far that has not been happening.
also have to consider what the ratio is of sovereign vs foreign debt. inflation = lower value = foreign debt is harder to pay off.
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Jun 6, 2023 | 13:26
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China steel prices have suddenly plunged to a three (3) year low as global recession deepens. Major commodity indicator.
Credit fallout will only worsen. Central bankers will panic react cutting rates only when it is far too late (IMO). That horse is long out-of-the-corral . . . .
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Jun 12, 2023 | 21:44
215
 Originally Posted by jazz
This coalition government is hellbent on destroying the middle class.
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Jun 13, 2023 | 06:19
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These rate hikes are NOT stopping anytime soon seen this song and dance before. Do you think the government cares who gets hurt and who doesn't . The poor will still be poor ,the rich will spend before the gov takes their money or moves it to a country to invest it and the regular working stiff will get left holding the bag for all of it.
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Jun 13, 2023 | 07:23
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Originally Posted by Old Cowzilla
These rate hikes are NOT stopping anytime soon seen this song and dance before. Do you think the government cares who gets hurt and who doesn't . The poor will still be poor ,the rich will spend before the gov takes their money or moves it to a country to invest it and the regular working stiff will get left holding the bag for all of it.
I am afraid that there is a group of people who deserve all the pain coming their way. Their habits, living beyond their means, driving Mercedes and living in a $900K house at age 25, loaded up on residential real estate, voting liberal or NDP all the way.
My bank rep told me in confidence that during covid, people brought their cerb cheques in as downpayments on vacay properties or big renos.
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Jun 13, 2023 | 07:35
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Houses are popping up for sale in town now quickly . Bank guy says over 1/2 mortgage renewals can’t remotely pass the “stress test”
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Jun 13, 2023 | 08:07
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Banks are obsolete under the planned Central Bank Digital Currency. All transactions digitally processed through a central bank server in real time. There is a major credit event on the horizon that will allow them to rollout their new system. Savings wiped out, banks bankrupt, countries bankrupt and cash finito. They will attempt to make it look organic, but it was all planned far in advance, the notso Great Reset. This is the end result of allowing private interests to subvert control of the issuing of currency, we've been hoodwinked.
Last edited by biglentil; Jun 13, 2023 at 08:58.
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Jun 20, 2023 | 05:07
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The global recession appears deepening rapidly despite all the comments from mainstream media stating that everything is fine.
China has cut rates again as their economy is struggling, unemployment rising. The Fed continues to bark up the inflation tree, but they have paused rates. This suggests that their policy may not be working well. Next step for The Fed will be cut rates possibly this fall (IMO).
Any commodity price rebound is now having difficulty holding for long. Then the selloff is again on. The problem? Demand or lack of.
Falling global population is not bullish commodities.
The jest of these comments is: be prepared to sell into market strength when it appears. These markets just won’t long into rallies. Again, watch that basis. It tells a story of demand.
As for the stock market, go at your own risk. A total casino right now. My opinion, that may not be shared.
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Jun 21, 2023 | 02:05
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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 . . . .
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Jun 21, 2023 | 05:30
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Originally Posted by 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 . . . .
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 .
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Jun 21, 2023 | 06:13
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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.
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Jun 21, 2023 | 06:46
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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.
Last edited by biglentil; Jun 21, 2023 at 14:24.
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Jun 21, 2023 | 07:25
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Govt is still spending errol. Have you kept track on how much money little ol Canada spent in the last few weeks.
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Jun 21, 2023 | 12:31
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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.
Last edited by biglentil; Jun 21, 2023 at 18:21.
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Jun 23, 2023 | 08:24
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Originally Posted by jazz
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.
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Jun 23, 2023 | 09:04
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Originally Posted by errolanderson
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.
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Jun 23, 2023 | 10:13
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Originally Posted by jazz
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.
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Jun 24, 2023 | 06:19
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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.
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Jun 29, 2023 | 15:45
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Errol's great debt crash may be just around the corner. M2 growth is now nearing -5% this hasnt happened in 90 years.
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Jun 29, 2023 | 18:47
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Few people starting to notice (wake up ) on the the little fuel tax present we are receiving on Canada day. Cheaper fuel was the only item that brought inflation under 4% last month so look for more int. rate increases in the future. It will be a lot more costly to fill the camper on labour day than now.
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Jul 3, 2023 | 18:34
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Inversion of the yield curve is considered one of the best leading indicator of recession and has decended to levels not seen since the early 80's. Buckle up.
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Jul 3, 2023 | 20:04
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The crazy thing is there are some who are literally cheering this on
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Jul 3, 2023 | 22:09
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Originally Posted by biglentil
Inversion of the yield curve is considered one of the best leading indicator of recession and has decended to levels not seen since the early 80's. Buckle up.
So the prudent thing to do would be to sit tight and pay down debt in the next few years?
Or are we gonna party on for another 5-10 years like we have been doing, before the hangover sets in?
Last edited by flea beetle; Jul 3, 2023 at 22:41.
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Jul 3, 2023 | 22:51
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I don't think we are going to have to wait that long. A yield curve inversion - in which shorter-dated Treasuries trade at higher yields than longer-dated securities - has been a reliable signal of upcoming recessions. The 2/10 year yield curve has inverted six to 24 months before each recession since 1955, according to a 2018 report by researchers at the San Francisco Fed, offering only one false signal in that time.
The spread between 2 and 10-year Treasuries has been inverted since July 22.
Last edited by biglentil; Jul 3, 2023 at 22:58.
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Jul 4, 2023 | 00:26
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Originally Posted by biglentil
I don't think we are going to have to wait that long. A yield curve inversion - in which shorter-dated Treasuries trade at higher yields than longer-dated securities - has been a reliable signal of upcoming recessions. The 2/10 year yield curve has inverted six to 24 months before each recession since 1955, according to a 2018 report by researchers at the San Francisco Fed, offering only one false signal in that time.
The spread between 2 and 10-year Treasuries has been inverted since July 22.
How reliable is the relationship between recessions and falling interest rates?
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Jul 4, 2023 | 02:24
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Originally Posted by errolanderson
Can’t imagine the Bank of Canada hiking rates next week, but they will.
Markets are far faster than central bankers and their ability to respond. Inflation is now dead. Deflation is the new kid on the block. Asset prices are already tumbling. This has created a conundrum for bankers making their courageous battle with inflation, that is no longer there.
Now the tide has turned . . . and so have bank profits. An outcome not planned by the financial industry.
There is now a real possibility of rate cuts later this year.
Errol, please look at the date of your prediction. Exactly one year ago.
#1 Was inflation dead a year ago?
And #2 were bank rates cut or did they increase instead?
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Jul 4, 2023 | 08:38
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Mortgage rates stateside are now in-decline. Watch for bank fallout to intensify. Crude oil is a bear market. Global demand is dropping and Saudi power diminished. Base commodities are now deflationary.
As for rates, central bankers only react looking in the rearview-mirror. Fed has already paused, further hikes are now likely over (IMO). A central banker doesn’t typically pause rates and then continue hiking. Something has gone wrong with their policy. Maybe they should take a look a look at commodity and freight demand as an indicator?
Inflation is now dropping sharply. Deflation had taken hold of many asset classes. These games have just begun . . . . .
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Jul 4, 2023 | 11:51
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Originally Posted by sumdumguy
Errol, please look at the date of your prediction. Exactly one year ago.
#1 Was inflation dead a year ago?
And #2 were bank rates cut or did they increase instead?
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