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Jun 3, 2022 | 17:00
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Strap-in . . . .
Failed Keynes economics and out-dated central bank policy built this debt monster. Now central banks feel they can hike rates (at about the worst time) all in-the-name of fighting inflation, which has already peaked. Inflation can control itself in an open market without help of central bank manipulation.
This is setting-the-stage for the ‘big debt crash’ (next 2 to 3 years) with sustained asset devaluation. Inflation you say? That may be the least of the market’s worries.
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Jun 3, 2022 | 17:38
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Article on lumber futures prices said they are now coming down as fast as they went up. Not seeing relief at the pumps yet though.
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Jun 3, 2022 | 19:11
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errol, I think the experiment in MMT is the culprit.
That experiment blew itself up in a mere 2 yrs. At least Keynesian theory lasted 50 yrs or so.
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Jun 3, 2022 | 22:26
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Surprise surprise stagflation
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Jun 3, 2022 | 22:57
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 Originally Posted by biglentil
Surprise surprise stagflation
Instead of "The Nasty Man", replace those words with "Justin Trudeau" !
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Jun 6, 2022 | 16:57
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Commodity prices went up for a whole host on non-monetary reasons: Covid lockdowns and the supply chain disruptions that went along with them, green energy mandates that block infrastructure projects, and now the war in the Ukraine.
Now that some of these bottlenecks are easing, commodity prices will fall to some extent. However, the war in the Ukraine looks to be setting in for the long haul and green energy boondoggles show no sign of letting up. That will keep upward pressure on prices.
Raising interest rates does nothing to fix any of this. In fact, it will make things worse by forcing some suppliers into bankruptcy or out of the market due to higher financing costs.
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11 Likes
AlbertaFarmer5, biglentil, errolanderson, furrowtickler, Hamloc, helmsdale, shtferbrains, Taiga, TOM4CWB, wheatking16, WiltonRanch
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Jun 9, 2022 | 22:56
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Great debt crash coming-in-hot . . . . Real estate is a bulls-eye.
Apparently, 20 percent of U.S. home listings have dropped their price over past month. Inventories have jumped 10 percent since March. Mortgage refinancing has tanked 75 percent over a year ago. Lumber prices remain in-a-skid.
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Jun 9, 2022 | 23:01
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Like anything, high commodity prices are absolutely meaningless unless you have something to sell .
Gold could go to $10,000 per ounce or oil to $200, if you have none it just costs you money in real terms
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Jun 9, 2022 | 23:04
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I could have a 50 million dollar liberty ticket , does that make me an instant millionaire????
About the same chances
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Jun 10, 2022 | 07:21
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'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 . . . .
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Jun 10, 2022 | 07:24
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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.
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Jun 10, 2022 | 11:19
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Originally Posted by errolanderson
'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.
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Jun 10, 2022 | 12:14
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Originally Posted by Sodbuster
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.
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Jun 13, 2022 | 03:24
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Heavy. heavy selling tonite in financials. Cryptos appear collapsing. Liquidity concerns heard in China.
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Jun 13, 2022 | 07:15
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Quebec pension fund invested in crypto, and now losing big time on it.
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Jun 13, 2022 | 07:21
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Trudeau will use the carbon tax slush fund to prop up the Quebec pension funds .
Probably on an emergency order ….
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Jun 13, 2022 | 07:27
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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!!!
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Jun 13, 2022 | 08:08
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Originally Posted by 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!!!
Krugman is Mr. Keynes . . . .
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Jun 13, 2022 | 09:50
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Originally Posted by errolanderson
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!!!!
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Jun 13, 2022 | 09:55
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Never did understand the cryto currency as an investment.
If it is a currency and you loaded out all last years production 3 months ago taking Bitcoin as payment you have lost 2/3 of the value since.
That is not and never will be currency.
Now the pumps are saying buy the dip.
If it will never be generally accepted as currency why does it exist?
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Jun 13, 2022 | 10:35
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How many trillions of dollars of losses are stacking up now? Hearing that the crypto space is worth less than $1T now, wiping out 18 months of gains, and sitting at 1/3 the market cap that it was a few short months ago.
Quite a "store of value"...
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Jun 13, 2022 | 11:23
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Originally Posted by helmsdale
How many trillions of dollars of losses are stacking up now? Hearing that the crypto space is worth less than $1T now, wiping out 18 months of gains, and sitting at 1/3 the market cap that it was a few short months ago.
Quite a "store of value"...
The average Bitcoin purchased since the Dec 2018 low is up $1400.
CORRECTION $400
Last edited by wheatking16; Jun 13, 2022 at 11:37.
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Jun 13, 2022 | 11:43
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Originally Posted by helmsdale
How many trillions of dollars of losses are stacking up now? Hearing that the crypto space is worth less than $1T now, wiping out 18 months of gains, and sitting at 1/3 the market cap that it was a few short months ago.
Quite a "store of value"...
At that peak that is off the chart it was 2.9 Trillion with a T.
Does that contribute to reduce inflation as that money has evaporated?
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Jun 13, 2022 | 18:37
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quote: “ In a first for Canada, Conservative Party leadership candidate Pierre Poilievre is campaigning to bring Bitcoin adoption to Canadians as a way to give people control and autonomy over their own finances.
To large crowds, unprecedented for a party leadership campaign, the long-time member of parliament and Conservative finance critic said, “We need to give people the freedom to choose other money. ” bitcoin magazine. https://bitcoinmagazine.com/culture/poilievre-brings-bitcoin-adoption-to-canada
And if you are worried about inflation Poilievre said adopting crypto will allow Canadians to opt out of inflation. He should know as finance critic
Last edited by dmlfarmer; Jun 13, 2022 at 21:47.
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Jun 13, 2022 | 19:21
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Originally Posted by shtferbrains
At that peak that is off the chart it was 2.9 Trillion with a T.
Does that contribute to reduce inflation as that money has evaporated?
It is a typically a zero-sum game and the money is reallocated; however, the pre-mined coins never cost anything so........
You might find this Crypto Total Market Cap chart interesting.
It is busy with my Hyperwave Theory analysis that suggests a weekly close below the Phase 2 line brings a Phase 1 target of 89.252B.
534B is the previous resistance on the monthly chart. Perhaps, that is as far as it goes.
it is hard to imagine but time will tell.
I expect only a half dozen or so that have utility and are decentralized to survive.
Here is a link to track:
https://www.tradingview.com/chart/TOTAL/UAcEeGU4-Ctrpto-Total-Market-Cap-Idea/
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Jun 14, 2022 | 06:39
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Originally Posted by shtferbrains
Never did understand the cryto currency as an investment.
If it is a currency and you loaded out all last years production 3 months ago taking Bitcoin as payment you have lost 2/3 of the value since.
That is not and never will be currency.
Now the pumps are saying buy the dip.
If it will never be generally accepted as currency why does it exist?
I do not have any crypto or any dog in the fight. but I think you are looking at it slightly wrong. if your buying crypto to hit it rich your using it incorrectly. Crypto to me is a way to escape fiat currency and goverment controle over yourself. I believe that's why the "state" is so concerned over not having regulation or oversight. As the late great John McAfee said "Choose to free yourself from those that choose to keep you down"
As for the loss of value I can't debate that.
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Jun 14, 2022 | 10:15
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Originally Posted by helmach
I do not have any crypto or any dog in the fight. but I think you are looking at it slightly wrong. if your buying crypto to hit it rich your using it incorrectly. Crypto to me is a way to escape fiat currency and goverment controle over yourself. I believe that's why the "state" is so concerned over not having regulation or oversight. As the late great John McAfee said "Choose to free yourself from those that choose to keep you down"
As for the loss of value I can't debate that.
Very interesting parallels with farming.
We sink in $300/ac… and watch it grow… or not as the case may be.
Would rather have my fate in faith in family, community, and creator… than bitcoins or crypto… growing food is a productive fascinating living to dedicate our lives to! The miracle of life is a mystery few will understand… seeds that are buried, resurrect, the produce 30-50-or 100 times what was planted.The study of the great engeneer who created all this great miracle… will take longer than the time we have on this world!
🙏 and Cheers
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Jun 15, 2022 | 19:03
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Originally Posted by dmlfarmer
quote: “ In a first for Canada, Conservative Party leadership candidate Pierre Poilievre is campaigning to bring Bitcoin adoption to Canadians as a way to give people control and autonomy over their own finances.
To large crowds, unprecedented for a party leadership campaign, the long-time member of parliament and Conservative finance critic said, “We need to give people the freedom to choose other money. ” bitcoin magazine. https://bitcoinmagazine.com/culture/poilievre-brings-bitcoin-adoption-to-canada
And if you are worried about inflation Poilievre said adopting crypto will allow Canadians to opt out of inflation. He should know as finance critic
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Jul 5, 2022 | 14:55
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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.
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