@russellmatthews yes it's literally the Wef agenda you will own nothing and be happy.....introduce all this new stuff then lower the rate people go crazy rate go up people go really crazy then things get crazy but hey you can always hope it all holds and we get utopia but that never seems to be the outcome but hey I don't know shit so don't listen to me.
How can a ' Crown Corp. ' called the Bank of Canada ....buy ' Bonds ' from a ' Crown Corp. ' called The Government of Canada ? This is a huge PONZIE shell game ? Just who really owns what ?
Keep on it Russell. "Seems like it's a multi-layered operation that's all happening at once." 🤔 Perhaps this all gets corrected once Carney replaces Freeland. 😂 Can you say, 'kakistocracy'?! [Where's that tinfoil emoji?]
sounds a lot like the same bullshit that gov did with the banks in the late 20s and early 30s when they told farmers to buy cattle and the farmers all listened , took out these gov suggested loans and then when the bottom fell out on cattle prices cus everyone was buying cattle the gov and banks came along and took their farms
When Freeland said we need to relax and extend mortgage terms because "home prices are up because the economy is doig so well", I gained a whole new disrespect for the government.
Yes, so now your dream of buying and owning a home in A. Reasonable time has been disintegrated. Hey, we'll do a 40 year mortgage. A 50 year mortgage, like in Australia. Come on, man. This is crazy. They need to realize that extending the term of the debt does not make things go away and does not make it better. It costs you more in the long run, probably by 50 or $60000 to buy your house with interest. Add it on to that and other fees to extend your mortgage. It's a big scam. Anyway, once the thirty years is up, then what do you do you have to move because you're too old and you need to go into a senior's home. Then you'll be paying 5 to6 thousand dollars a monthRent there. They're actually doing what the credit card companies are doing. Oh, you're at your limit. We'll just raise the ceiling an extra $5000. Now you're not going to get penalized for being at your old limit, it's so stupid
Before the Great Financial Crisis, the previous government moved to extend mortgage amortizations, and the party currently in power rightly criticized them for it!
Freeland is currently speculating on condo's in London ( I assume she will be a citizen there after her reign), so I wouldn't listen to one single thing she says about housing.
How come the Banks get bailed out, that easy question they donate money to the political parties. If you donate enough money you get preferred treatment also
Banks and Edge Founds financed the elections. The Government is actually and employee of the banks an Edge Founds. Fun fact, an Hungarian, living in Swiss, George Soros gave millions to Trudeau's campaign BUT I MYSELF A CITIZEN CAN'T GIVE MORE THEN 1 725 $. Cause, of course, Hungarian's have the right to control my government.
Yep. The govt bought MBS from banks through CMHC and if they go bad, CMHC will pay the govt by taking money from the govt. Reminds me of Obama giving medal to Obama meme. Only change is banks get to walkaway and taxpayer gets screwed regardless. Also MBS caused 2008 crisis in US, only difference is some banks were allowed to fail there. We suckers will pay to save them all up here.
Yah of course if it runs properly .. It runs for decades serving generation after generation ...imperfectly like humans ..but serving .....till greed, individualism corrupts.... They start again like uic CPP blah blah
I recently learned from some local government folks that a large portion of new building prices go to government to fund roads and other services for 10~ years (paid by the companies that build houses and covered by the people who buy the houses)
The thing is so much of our economic value is dependent on housing prices/massive private debt. A lot of that is in service of supplying retirement funding, easy solutions to this would absolutely destroy that.
Really, banks require more regulation. The entire idea of banking as "let's gamble" is terrifying. Because they discovered in 2008 that the government will always bail them out, there are no repercussions. These bank crisis are so worrisome. This whole financial crisis and the Great Recession posed the most significant macroeconomic challenges for the United States in a half-century, leaving behind high unemployment and below-target inflation and calling for highly accommodative monetary policies. And this is only the beginning!
"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered...I believe that banking institutions are more dangerous to our liberties than standing armies... The issuing power should be taken from the banks and restored to the people, to whom it properly belongs." Thomas Jefferson
Since 2020, the banks have been over-leveraging their assets, which was one of the reasons for SVB's implosion. I have never been okay with keeping much money in the bank. I simply focus on diversified investments through a financial advisor, collect my profits, which I either spend or repeat the process. Never been this comfortable with my finances.
I have learnt not to trust corporations, especially these banks. I was badly hit by the '08 financial crisis. Since 2022, I've just been focused on investing through a financial advisor and it has been paying off. No major loss has ever been recorded since 2022 i started. I'm closer to having $1,000,000 now than i ever was with the banks. I'm never going back to banks full time.
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.
I've experimented with a few over the past years, but I've stuck with ‘’Marisa Michelle Litwinsky” for about two years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
I've long ago realised that it doesn't really matter who gets elected in Ottawa. It's Bell, Rogers, Bombardier, Irving, Loblaws, the big banks, and others who are in charge. They will ALWAYS get their money. Liberals in power? Conservatives in power? It simply does not matter.
Mate RY and TD have more AUM than Canada’s GDP…. People conflate the US and Canadian economies, AC was bailed out but people confuse financial institutions
@@JRuni0r Thats not a bad thing. To be able to get information consolidated by someone with the ability to look at it all and put it together is why you're on youtube.
Nope not at all. But it does allow the banks to buy bulk insurance on existing toxic debt mortgages and dump liability on the taxpayer. “But they are fighting for you right?” What a joke this country has become under the libtards.
The purpose of that is to keep house prices high. The economy can not take falling house prices since real estate makes up a third of our GDP. The government has a clear goal of eliminating single family dwellings and moving Canadians into apartments, seniors residences and for a lucky few garden homes, all of which count as "homes" in their statistics. If you build a seniors residence with 100 rooms and put two seniors in each room that counts as 200 new "homes" in Canada.
And the rising municipal property taxes have become unattainable with extra taxes being dreamed up, just to give pay increases to have less being done to maintain infrastructure. The so-called elites are getting richer on the backs of the middle class.
Hopefully if new homes are built housing prices will decrease to something more manageable and realistic.. demand and supply.. Canadian government hasn’t done anything regarding lack of housing since the 70s and the skyrocketed prices of homes that were around 400,000 only 20 years ago that are now worth 1.5 million and up give or take it’s ridiculous.
I think you are being politically incorrect. Since DEI is part of Canada there are no longer just man in the government and banks there are women and LGBQ so it not really a circle Jerk any more but a debt orgy*** however I will grant you they will be jerk there still in a circle still
They coerce us with homelessness and starvation into playing their game and tell us to suck it up and suffer the consequences of the system when we lose the game. Then they get caught cheating and STILL lose the game themselves but instead of sucking it up like we have to they get billions of dollars. A day.
@Mrdevs96 correct. Truth be told, it's a global issue, greed, at all levels. From the investor demanding growth to the board members doing whatever needs done to deliver, greed. I consider myself lucky to be in the west, to have a good income and a property to live in, but I'm not blind to the looming possibility that it could all be reset.
Central Banks are the Evil that keeps coming back. The short periods in human history without these entities, have resulted in the most prosperity. We keep getting sold out by P.O.S. Politicians !!!
More debt is not a solution, it's just compounding the issue. The more debt there is the less stable our country is, at some point all of these short-sighted policies will cause a much worse crisis than if they didn't do anything.
What if a much worse crisis was their objective ? I don’t think they just dreamt about CBDCs and woke up drafting bills on them . The truth may be far more sinister ie the state totally intervening on the economy, like china , which only produces more tyranny, corruption and loss of liberties
@@jordancarlin9687 I meant who enforces that collection, especially to a superpower nation like America? Those rich ppl putting together a paramilitary of mercenaries to take on the US military?
I and many others were sounding all the alarms during Covid, it was the greatest domestic policy failure in Canadian history. Over spending and over borrowing while destroying small businesses and the economy for a long time
It wasn't a failure, it was intended, the politicians were ordered to do this, it occurred in Europe, in the USA... the first enormous wealth transfer was in 2008, and then the pandemic added up on it. Agenda 2030 is the script for all these measurements.
The wealth gap cannot close because the system was not designed that way. The system is designed, so the wealth of the many flows to the few at the top by design, not by accident.
@@davidsuzukiispolpot You know that the banks and other big businesses fund the Conservatives just as much, don't you? And the Oil companies fund them even more.
Best youtube video I've watched in a while, and I watch a lot. The clear delivery of information, lack of emotional frustration, honesty at the end about your own actions. You've earned my sub. Thank you.
exactly. there's a term for this, it's called Moral Hazard. if you incentivize institutions to take on as much risk as possible (because it gives them the maximum financial reward & they'll be bailed out when it blows up in their face) then that's exactly what they'll do.
The temp foreign worker program has almost destroyed an entire nations economy. Wild times to be Canadian. I am currently planning my way out of here, after 20 years serving the military I did my part. Can't wait to leave Canada. 2026 is my year of freedom from this country and it's insane taxes and lack of healthcare and housing.
My job went from about 50% foreign workers to about 90% in the last few years. It's just very strange to see it happen. Most people don't speak English and it feels like I'm a foreigner in some strange country.
Oh yeah eh? If you don't understand something and listen to another guy who doesn't understand something and admits that it's kind of over his head and then you don't go and look for better sources to get more information that's a good justification to conclude it's 'sinister'? "I'm confused so that means there's evil going on!" The comments under this video are so concerning... it's just weird and ignorant conspiracies all reinforcing one another in an echo chamber. The creator isn't totally wrong by any stretch but also the lack of understanding and nuance means there's a whole lot of JAQing-off (just asking questions) going on to make people feel like they're uncovering some truth when they've learned nothing.
@@JRuni0r So, "JRuni0r, it seems you are assuming that the commenter either misunderstands or is confused about the situation, and you're transitioning from suggesting something merely 'sinister' to labeling it as 'evil.' However, it’s important to note that there is nothing inherently sinister or evil about economics or financial systems. While some individuals may manipulate economic concepts to present harmful policies as beneficial, this behavior could stem from naivety or malicious intent rather than reflecting the nature of the economic principles themselves. Consider the numerous economists employed by the government and the Bank of Canada. With their extensive education, conducting a straightforward cost-benefit analysis is well within their capabilities. Therefore, a lack of transparency regarding information can be problematic. I advise people to 'just follow the money,' a phrase widely attributed to the 1976 movie All the President's Men, which dramatized the Watergate scandal investigation. In the film, the character known as 'Deep Throat' uses this phrase to guide journalists Bob Woodward and Carl Bernstein in uncovering the truth. Moreover, I suggest following not only the money but also the associated risks, as this can reveal who stands to benefit from economic or financial policies. Understanding these dynamics helps individuals critically assess government actions. Economic and financial tools themselves are not sinister; rather, they are essential for analysis. If individuals are not informed about all the risks and benefits inherent in government policies or procedures, they may inadvertently fall victim to manipulation or deception by the government. As Albert Einstein wisely stated, 'Unthinking respect for authority is the greatest enemy of truth.' Similarly, George Washington observed, 'Government is not reason; it is not eloquence. It is force. Like fire, it is a dangerous servant and a fearful master.'"
@@JRuni0r OK, well if you have more knowledge and you seem to say to be smarter than this guy, why don’t you start a channel and explain to us better as you seem to say or is it just to bash on someone to upgrade yourself
About every 10 years it's another bank bailout! Let them go broke like other businesses. It's bad management and the public should not have to pay for their mistakes!
@@jaredc3608 I didn't argue that. The OP is a stupid suggestion to let a country go bankrupt. You clearly haven't seen countries that have gone through that. Snore. You and the OP are brainless.
No. Mortgage backed bonds are how the mortgage industry funds mortgages. It isn’t banks’ money that you borrow when you get a mortgage, it is bond buyers’ money you borrow. The banks are just middlemen. When you want to buy a home that you cannot afford, somewhere there’s a little old lady who just sold her home and wants to generate monthly income from the proceeds. She buys BONDS with interest rates set by the bond market. The home buyer uses the little old lady’s money to buy the home, and they agree to pay slightly higher interest than the bond pays. The difference between the rate she earns and the rate the buyer pays is the margin that the bank earns for dealing with it all. Banks cannot force the little old lady to accept a sub-optimal rate for her capital.
@@Mistmantle88 -- I may agree with you to some extent, but with a fiat system the banks don't use the little old lady's money... they create more fiat money to make the new mortgage. When a mortgage gets paid off, that money just disappears. That is why there are more contracts, loans, mortgages, etc. out in the market then there is money in circulation. We operate off of currency which is created and evaporated as needed. More $$ are not printed to cover those costs. Once the little old lady puts her money in the bank, it is no longer hers. If she choses to direct it to Bonds, then that is generally treated as a loan to the gov't or corporation who can spend the money as they chose. The bank earns a percentage referring it to an investment firm for purchasing of the Bonds and the little old lady earns interest. Even though the paper she gets, has her name on it, the original money now belongs to the investment firm not her. This is important for people to realize, especially if a bank or investment firm or corporation goes bankrupt. Once you put money into the bank, you give up ownership.
The government can not fix Canadas housing problem. The banking problem they can fix If they are willing to put the future generations into crushing debt. We are unproductive in the manufacturing world, so wages have been going down since the 1970s. Our resource extraction is no longer paying the bills, so we borrow. All the while increasing the population to such an extent, we can no longer put a roof over the new Canadians' heads. The agricultural sector is facing challenges of new producers in the global south bringing millions of acres of new farmland into the picture. Food prices are falling in Asia, thanks to low-cost Chinese farm equipment being exported to Africa and Eurasia. All this is being done outside the North American financial system, and without the staggering cost of EPA pollution reduction equipment or carbon taxes. All the price and production data we had in the past is no longer available so farmers will not even know the price paid for grain we used to sell before competition showed up. Canada had better get its head out of its ass or we are going 3rd world.
@resolutejku This is the hard truth wealth was never destined for the people. A system that gives advantage to those already wealthy was always destined for monopolies and eventually a small few will hold nearly everything
As long as the present party never ends you're right. What would happen if all the fantastically overvalued stock markets imploded. I don't even want to think about it!
Canada is given up its sovereignty to USA. Turdeau has exchanged Canada's future to be part of the WEF Young Leaders Program... I wouldn't be surprised when all of this ends, in 2 decades, Canada will be integrated into the USA.
@@mikaellavoie6811 honestly what do people expect ? We vote for a government every 4 years of course they’re gonna treat their governance like a rental. No one wants to have a real discussion but monarchs had more accountability when governing. Democracy is just a political guise to get people to comply easier without them getting held accountable
@@CaptainSurfyExactly this, the monarchs family would have already dethroned him by now to try and save the bloodline and country. Instead we sit and watch bad decisions for 4 years straight while they laugh about it.
@CaptainSurfy ?? 🤔.. you think we'd be better under a monarchy??.. really.. Maybe I'm just toooooo Old, lol.. But.. my faith in "monarchy" that I might have had left in my 20s.. was blown out of the water after I witnessed what happened to Princess Diana, with the Royal family.. the public is general.. Sure was Not a fairy tale. Well, the fairy tale of happily ever after.. What we've found is that the monachy really is not different than common folk really.. & titles are arbitrarily given, usually for life. Poor Princess Di.. she was 1 day older than me. And.. there's a reason the common folk of England, forced the King (can't remember his name at the moment) to Sign the Magna Carta.. Because things were soooooo fair fir the common folk before that document.. Just saying.. And .. obviously the States is not the utopia they wanted.. Hell, they have strayed soooo far from their "declaration of independence" they have become the kinda colonizing country they fought to get out from under !! Seems power does ultimately corrupt the system... There are no easy answers.. & people Themselves need to stop using housing like it's a slot machine.. not just the government. Who, in their right mind, willingly forked out over a million for a house in general.. if u had the cash to pay for it great... But.. if u took out a mortgage ~ did u ever add up the interest u will pay on a 25-30 year amortization.. and still think you were getting a good deal ??.. I know we all have to pay 'rent' in our lifetime, but do the math on your interest payments, even over 20 years. Guarantee it's much more money than you'd think. We did, back in the 1980s. Interest was waaaaaay higher & our principles were Much lower.. minimum wage was also around $5/hr. But.. a waaay bigger principle at a lower interest rate, still adds up to one hell of a lot more money than you would expect. Should have made people much wiser in what they would have willing paid to own a home.
@@christineelsey3104 we were actually for centuries but of course there was also bag kings and queens. But in general we were better off because those people couldn’t think for themselves only if their bloodline was to continue running the show.
It's time to ban all these self serving, fee grifting so called "advisory agencies" altogether. They are a disaster promoting idiotic policies that enrich themselves and their friends while bankrupting the nation.
"reminds" you of??? Th5us is EXACTLY what it is! This isn't going to end well for anyone (even the banks). All they do is kicking the can down the road.
Had me as soon as he got to the part how they can back overnight borrowing with housing bonds. Tri cities in the Fraser valley had a peak standalone sale price north of 1.6M, current moving price is 1-1.2, with 72 listings on last Friday and 23 sales. I need to get out of the real estate market.
they won't stop until they own it all, this has happened many times throughout history - the infallible, endless greed of humanity . they preach regular people to cut down, while they fly their private jets around the world taking it all. people need to wake up
I do not understand why the government gives them a bailout, vs a loan with interest. We should not be dishing out grants to private businesses as big as the banks. I also do not understand how they can possibly need bailout money when they make massive profits each year. One bad year takes them down? This can only be due - in very obtuse terms, to the bank paying out too much to shareholders, etc.. No savings for a rainy day as they always instruct us citizens to have. Tantamount to theft.
We need to stop using terms like "government" or "CMHC-backed mortgages" and recognize that it's the Canadian taxpayers who are ultimately responsible for this debt. Just like with immigration, it's outrageous that a small group of individuals within the government can make decisions that significantly impact the future of our lives and our children.
B.C is such a crazy place, brand new condos being built on one street, while homeless addicts live under tarps on the other side ..I am considering leaving for good, the have/have not dichotomy is getting too extreme
It’s funny that builders are saying a new home isn’t profitable for them. Pre 2010s home builders were happy making 50-100k per build. Now they want 300k+ to be considered profitable.
@@TheNewSchoolGamer -- There are several reasons housing costs more. The developer must find land suitable to build a home or community, paying millions $$ to obtain it so they can begin the building process. Then zoning. It is generally a lengthy process to get zoning changed which will allow multiple housing built. Local gov't may protest and people in the neighbourhood. This adds time, money and more costs. The gov't requires studies on environment, animals, underground water, traffic patterns, fire and safety, etc. Each of these are done by experts in their field and can cost a few hundred thousand dollars. Then more revisions to a proposed site plan including architects, drafters, contruction management, etc. And when everything gets approved, often taking 5 - 10 years.... The municipality starts putting in the infrastructure of sewers, water, electric, roads, etc. These must be paid by the developer before building starts. Now we have crews who have been waiting to start work and may not be readily available after all this time, and want more money. Building supplies have increased dramatically and these add to the costs. Then many people start adding 'extras' by upgrading and this increases the cost of homes. Yes, developers and builders do make a good profit... but they take substantial risks and spend a lot of money not knowing if their planned housing project will finally get approvals. There have been a number of communities and condo's which after all this money is spent... are not successful. I had a large development not succeed where I used to live do to neighbourhood resistance, and now I find, a townhome development has been built near me, but sitting empty for over two years.... So it is still not approved for occupancy by the gov't.
What was minimum wage in 2010? Minimum wage goes up then so do paid professionals salaries.. it’s a domino effect inflation inflation inflation.. let alone materials and so forth
If you didn’t need another reason to switch to a credit union and leave your big 5 bank today, this is it. Credit unions support local communities and businesses while often charging far lower fees and more reasonable minimum balances for free banking than any big bank. Plus a lot the time they’ll beat big bank rates on secured loans and mortgages
Lmao . Your hero just called for lower interest rates - which is what destroyed economies in the first place . We haven’t got a collective clue in this country . God save us
It looks like a recipe for hyperinflation with a government sovereign currency guarantee on the cusp of a baby boomer mortality cliff. The mismanagement of the immigration portfolio in producing temporary shock admissions of temporary workers & students, to increase education profits at the cost of housing & inflation makes me believe that they have lost stable economy core principals. Thanks for your seminal balanced views. Your one of the few that doesn't talk out of your a$$ & doesn't give the 1 percenters a free pass. Cheers Bro.
this is why when my parents die im following them from my own will soon after there is no point in living if it wasent for my parents i wouldve left this world already i stay for them once they leave im gone
Politicians themselves are heavily invested in the real estate ponzi scheme. So yes they will use taxpayer money to keep the bubble going no matter how much damage it's doing to the economy.
So happy to see young people educating themselves about finance. Young people, heed this young man’s advice. Educate yourself and take action or you will be on the wrong side of history. “Focus on what you can change…”. Brilliant advice.
Real estate in small communities are going to have a very hard time. Specifically, all the ones that saw massive price increases during the pandemic while everyone was able to work from home and flocked to cheaper housing. Sales are extremely low but prices are still up. Locals can't afford the prices and the city buyers aren't looking that way at all. A house in Kitchener is the same price as in a small town like Mount Forest. Will be very interesting to see how it plays out.
@@russellmatthews I totally disagree. I wish you'd take some Khan Academy lessons and actually get a basic understanding of the concepts and just as importantly how much you don't know and don't understand and then go out and find people with expertise on these topics and then try and amplify their voices and messages instead of pretending you can DIY an Econ degree as you push your opinions onto others doing little more than muddying the waters. I'm 95% certain most of this video is you paraphrasing millennial moron's content having put in a fraction of the effort. While I acknowledge you hedge your opinions with the caveats that you don't really understand any of this and it's over your head, you're still trying to 'fake it till you make it' and the lack of quality analysis along with the JAQing-off (Just asking questions) only adds to the unease and ignorance of your viewers. You're not like, entirely off but you're also not adding anything of value to the materials you're paraphrasing off of. This all sounds mean and you'll probably dismiss it as trolling but, outside of personal gain and the hopes of making money as a full time RUclipsr do you actually feel like you're adding value? I mean, just go through your comments. Your audience obviously aren't well versed in these topics and instead of introducing the basics and core concepts you've jumped into analysis and opinion. Ooof my guy.
Consider the numerous economists employed by the government and the Bank of Canada. With their extensive education, conducting a straightforward cost-benefit analysis is well within their capabilities. Therefore, a lack of transparency regarding information can be problematic. I advise people to 'just follow the money,' a phrase widely attributed to the 1976 movie All the President's Men, which dramatized the Watergate scandal investigation. In the film, the character known as 'Deep Throat' uses this phrase to guide journalists Bob Woodward and Carl Bernstein in uncovering the truth. Moreover, I suggest following not only the money but also the associated risks, as this can reveal who stands to benefit from economic or financial policies. Understanding these dynamics helps individuals critically assess government actions. Economic and financial tools themselves are not sinister; rather, they are essential for analysis. If individuals are not informed about all the risks and benefits inherent in government policies or procedures, they may inadvertently fall victim to manipulation or deception by the government. As Albert Einstein wisely stated, 'Unthinking respect for authority is the greatest enemy of truth.' Similarly, George Washington observed, 'Government is not reason; it is not eloquence. It is force. Like fire, it is a dangerous servant and a fearful master.'"
Mass "immigration" puts pressure on a lot more than just housing system. Puts pressure on healthcare, transportation, education, municipal services, cultural systems, the list goes on.
It is so visible that 95% of the problems that Canadians are facing now are by- products of unlimited immigration in form of temporary workers, International Students and refugees.
These new LEGAL immigrants are at times forced to share rooms. My friend met one that had a housemate you slept in a furnace room. They're not poor people from their countries but there literally is no room anymore. Plus, less people choose to rent out their homes because the government protects people who refuse to pay rent or move out.
@@xCestLaVie1 yes it’s not the fault of the immigrants obviously, they’re taking the opportunities that come to them in hopes for a better life, but the point being that we literally don’t have the infrastructure to support a massive and rapid input of new people is still true, the government lied to them in order to fill shitty job positions so large corporations can continue with their profiteering business models, this was an insane economic experiment and most agree it’s done more harm than good
Stop all intervention. Let the free market correct this problem as efficiently as possible. Then let’s pray we can move forward. Tired of being repressed to support a repressive system. Tired of patches on a broken system.
The free market is a fallacy. All aspects of the market are Manipulated and controlled. What you're asking is for a complete system failure and canada has no control over that. It will happen when the US Billionaire class decides and not before. Unless we enter nuclear war or the polls (North south) decide to shift dramatically.
Can't it's all built on a house of cards in the first place we are truly here to ride it out that's the best choice but it would really help it certain politicians and friends of said politicians stop one of the greatest wealth transfers in human history to themselves possibly. But hey I don't know shit I am not educated on this topic at all so please don't listen to me I am probably crazy
@@SirBojo4 i agree we got to this point with a free market why the hell would pulling money out of regulations make the free market any better especially when there are so many people who fully understand how to manipulate the market unfairly to crash the whole system and make off with a boatload of money
When those CMHC loans start going down the drain, guess who is going to bail them out. If the current idiots in charge, stay in charge you can be sure your taxes will be going up like a rocket to cover for fools and their expensive new houses.
>No government can correct the damage done over the last fifty years that has led to high prices of goods and services here in Canada. The reason is because these high costs are not inflation but the reaction to inflation. More precisely, it is the devaluation of the dollar that causes these high prices. >A dollar today is worth about three cents compared with a 1971 dollar. That is the key fact. This devaluation means we need more of these devalued dollars to buy anything! The factor is thirty times. Prices today are roughly thirty times what they were in 1971, plus salaries have not kept up with this. The cause has been the constant deficit spending by our governments since then. The Conservatives will not be able to change that unless they cut all the deficits for the next twenty years, perhaps even thirty years. That will mean huge cuts. There is no way out of this box. >With the trillions in wealth to be transferred from the Boomers to the next generation, maybe, just maybe, some act of parliament could be used to pay down the national debt from this wealth transfer. The next two generations will pay for this no matter which Party is in power. One more thing; there is a lot of money sleeping in offshore accounts just waiting. When the time is right this money will come out of its hiding places and buy up the country for peanuts on the dollar. There is no third option.
This is insane that they are 'losing' money. I paid 28K in interest payments with like $700 on my premium. That's nuts man that they could be losing money.
It's one big grift when you think about it. All the western countries are in a similar situation due to their similar progressive ways. Canada has and is on the biggest decline. There is no way in hell 4 million will be built. they are dreaming. They won't need it as people start exiting the country and the replacement rate is less than 1.3.
It reminds me of an interview of a previous Provincial Minister. Hospitals were closing across the province. When asked whether he regretted building all those hospitals now they were closing. He replied: No. I knew they were not needed and would have to close.... but I couldn't get elected if I didn't agree to build them.
I'm not sure how Canadians can afford new houses when a bag of groceries costs 100 dollars. 160 dollars to fill up my trucks gas. Taxes are up. Employment is down. Most companies are offshoring as many jobs as possible. Food banks are being flooded. Government is spending hand over fist. Inflation is up dramatically. Ethics violations and slush funds. The regulating government bodies in every sector of business are promoting paying the government for monopolies. Corporate greed and government miss management... Oh wait a minute people can afford a new house because the government will make it easier for people to become more indebted. We are from the government and we are here to help you become house poor. Yw
Its not that the gov't or bankers or investment firms need to learn.... they know exactly what they are doing. It is the public which needs to learn to stop think the gov't has your best interests at heart.
It is a scheme. All of it. Outside of a few cities a 1.5 million house is luxury detached home. Put 5% down on cmhc and pay $60000 fee and the cmhc mortgage is the best rate on a mortgage. So in most cities this is a debt magnet with the govt picking up the tab if you lose a job. Bonus for everyone but the person buying the home.
It would be interesting to get a comment from Pollivere and Singh regarding this risky sounding solution. Allowing the banks to lend based on the daily bail they need to balance the spreadsheet. I think the banks should invest in shovel manufacturing because they‘ll need a lot of shovels to dig Canada’s grave at this rate.
@mathias8627 well people need to quit buying bran new dodge rams and eating out. Or maybe get a job that is actually useful that pays well. Most the trades make a livable wage if your not spending like a mad man.
what makes you say the banks are having a hard time meeting capital reserve requirements when it is well known that they all exceed the minimum requirement by a wide margin?
Great content - When we say that these mortgages are "backed by insurance," we are specifically referring to mortgage insurance that is provided by insurance companies, often with the backing of the government. Or the fact that Gov will always bail out the banks by continuously purchasing the MBS from banks?
NO ! to artificial price support for overpriced real estate. Let real estate prices fall to what people can readily afford. No bailouts for special interests.
BoC which is supposed to be owned by we the people has been hijacked and turned into a country club serving banks. Plus Tiff Macklem is incompetent and running the economy into the ground.
I'm pretty sure it's just greed on the part of house builders and not non-profitability. Houses used to be much cheaper and cheaper compared to people's buying power and inflation. They were profiting just fine. The solution isn't to give them more people who can buy these unaffordable homes, it's to make cheaper homes. The companies just don't want to see their profit margin go down and their stock get hit because shareholders can't look forward to as big of a stock buyback using/wasting those profits. If the government is willing to put so much money into it, they should get into building affordable homes themselves if they actually wanted to help people.
@@kylequinn1963 I'd disagree, I'll acknowledge that hes *mentioned* they were rental units (owned by who? Hmm) But he calls them homes, all the headlines call them homes, with the (imo) intention, that the avg people hear that the government is building "homes" and think a house, and not a 1 bedroom apartment.
People need to think outside the box and leave cities to move to smaller communities. The mindset needs to shift back to the basics. Cities are becoming more prison- like than ever
The issue here is really the amount of debt that the governments (fed and Prov) run up. The Fed govt thru the bank of Canada creates money mostly through the private banks which they control completely. The fed govt flooded Canada with cash during the pandemic through all the means that were explained here. They did it quickly and without a lot of forethought of the unintended consequences. They wanted the money into the hands of everyone so they put policies in place that allowed the banks to make loans they ordinarily wouldn't. The govt kept interest rates low so that ordinary Canadians would borrow more and consume more keeping the economy moving (no recession). Then the Fed Govt brought in more immigrants, Temp Foreign Workers, Foreign Students, refugees and allowed illegals to stay. This resulted in several million new Canadians. The Fed Govt also increased the number of civil servants again pumping more $ into the economy. All the increased spending paid for by debt kept Canada out of recession. Then they started to cut interest rates and pull $ out of the system as the economy started to stall. Because of all the above their isn't enough housing, healthcare, education spaces and the cost of everything has gone up over 20% since 2020. So now the govt has put policies in place through the commercial banks to get more money back into the system mostly directed at housing! So they are taking it out with one hand and putting it back with the other. The fed govt is reducing the BOC balance sheet but putting the loans into CHMC. Its a shell game just moving the debt around and masking it all by moving it through commercial banks. Its the BOC that sets how much "reserves" the banks must hold, their interest rates are set by the overnight rate the BOC sets. The government sets up the insurance programs for mortgages otherwise the banks would not make these loans. So this really isn't a bail out of the comercial banks, they are just a cog in the wheel of the govt loan process and how the BOC creates or reduces liquidy within the system The real danger here is the total amount of debt owed by the government as well as private debt owed by ordinary citizens.
@@CaptainSurfyReaping the benefits from something that provides no value beyond its scarcity in a nation that could easily end its scarcity problem... we're cooked.
It's called sleight of hand, the shell game, and magical money. What could go wrong? Well, Canadians have no disposable income, massive debt, and rising prices for starters. This could be a souffle of paper chasing paper and one sneeze could drop it like a stone.
Never hold any cash buy assets Gold silver real-estate or what ever you feel safe governments will keep devaluating the value of the money to be able to pay back the debt they took.
Real estate is far from a guaranteed safe investment. Governments have the power to seize property through mechanisms like eminent domain, and excessive taxation can erode your financial gains, leaving property owners burdened by escalating costs." Example: Imagine purchasing a home as a long-term investment, expecting its value to appreciate over time. However, the local government increases property taxes annually, and soon, a new infrastructure project requires the government to seize part of your land. The compensation provided is well below market value, and the mounting tax burden severely diminishes any potential profit, making your 'safe investment' far less secure than anticipated.
I disagree about real-estate 1. Eminent Domain and Urban Renewal in the U.S. Example: Kelo v. City of New London (2005): In this U.S. Supreme Court case, the city of New London, Connecticut, used eminent domain to seize private homes for a redevelopment project. Although the property was taken for economic development rather than public use like roads or schools, the Court ruled in favor of the city. The homeowners were forced to sell, often at prices below market value, demonstrating how the government can legally seize private property for broader economic purposes. 2. The Soviet Union's Collectivization (1920s-1930s) In the Soviet Union under Stalin, private land ownership was virtually eliminated through forced collectivization. The government seized millions of acres of privately owned farmland and transferred it to collective state farms. Many property owners, especially the kulaks (wealthier peasants), lost their land, homes, and in many cases, their lives. This is a stark example of government seizure of property, with no compensation or protection for the owners. 3. Nazi Germany’s Aryanization Program (1930s-1940s) Under Nazi rule, Jewish-owned properties, including real estate, were confiscated or forcibly sold below market value. The process, known as "Aryanization," transferred Jewish businesses, homes, and assets to non-Jewish Germans. This state-sponsored seizure not only stripped property owners of their wealth but also demonstrated how government policies can exploit private assets for political and ideological purposes. 4. Property Taxes and Land Confiscations in Post-Revolutionary France (1790s) After the French Revolution, the new government imposed heavy taxes on the wealthy and seized property belonging to the Catholic Church and aristocracy. Much of this property was sold to pay off national debt or redistributed to the public, severely depleting the wealth of former property owners. The policy of "assignats" (bonds issued on the value of seized land) also destabilized property values and led to rampant inflation, undermining property as a stable investment. 5. British Land Clearances in Scotland (18th-19th Centuries) During the Highland Clearances in Scotland, landowners, with the backing of the British government, evicted thousands of tenant farmers to make way for sheep farming, which was more profitable. Many families were forced off land they had lived on for generations. This government-supported restructuring of land use led to widespread displacement and loss of ancestral property.
House have been priced beyond the people's income. Extending the amortization creates debt slaves and does not solve the problem of house costs being beyond the income level. Houses prices used to be around 3x income now it is 9x, no wonder the average person cannot afford to purchase a home.
Nothing in this matters to me at all because even with a 100k per year salary, there is zero chance I will ever own a home, and a 100% chance of maid instead of retirement. #letitallburn
@@m.bird.Are you an older guy bird?. Go plug 100k into the CIBC affordability calculator and tell me what home you could afford with that maximum approval. You'd be lucky to get a house anywhere. Young people are not joking or messing around. Those articles about needing obscene incomes to afford homes aren't for shits and giggles. People cannot afford homes whatsoever. People need over 100k income just to own a home, that's not including the incom they'd need to support a family.
@@m.bird. i make close to 100k, no chances of buying anything decent. you need 100k downpayment first to get a condo in Toronto. Unless you parents give you cash or you have a partner that also makes a lot and that pays the bills and rent while your income goes to savings, no chances..
@m.bird. no I've given up on that along with the home. They kinda go together IMO. Median income for home ownership in my slaver province is over 200k.
The IMF threatened all countries who weren't having any issues with the beer bug, that they had better close their countries and print a ton of money or they wouldn't get their IMF loans the next year. Canada already has an almost half a trillion dollar spending program planned for some time in the near future regardless of which party is elected. It is only on paper at this point but the federal government plans on giving most big Canadian cities 50 to 70 billion dollars to battle climate change (a giant gentrificatiin plan if you will). The money printers are going to be run again very soon and now that Canada only has one real industry, government, we are well and truly a fallen nation. We won't "collapse" because that is not the plan. I wish we would. We need to cut all federal government spending by 50 percent and deregulate numerous industries and then just suffer for a decade while we rebuild.
Most member of Parliament is a landlord, or even own developmer companies. That's why they are privatizing the profits and socializing losses every chance they get.
Is this all a plan working towards a unified goal? Let me know, and open an account with moomoo today to support the channel! start.moomoo.com/01kQc0
@russellmatthews yes it's literally the Wef agenda you will own nothing and be happy.....introduce all this new stuff then lower the rate people go crazy rate go up people go really crazy then things get crazy but hey you can always hope it all holds and we get utopia but that never seems to be the outcome but hey I don't know shit so don't listen to me.
How can a ' Crown Corp. ' called the Bank of Canada ....buy ' Bonds ' from a ' Crown Corp. ' called The Government of Canada ?
This is a huge PONZIE shell game ?
Just who really owns what ?
Keep on it Russell.
"Seems like it's a multi-layered operation that's all happening at once." 🤔
Perhaps this all gets corrected once Carney replaces Freeland. 😂
Can you say, 'kakistocracy'?!
[Where's that tinfoil emoji?]
Yes. All of these are planned as per WEF/UN/IMF agendas.
sounds a lot like the same bullshit that gov did with the banks in the late 20s and early 30s when they told farmers to buy cattle and the farmers all listened , took out these gov suggested loans and then when the bottom fell out on cattle prices cus everyone was buying cattle the gov and banks came along and took their farms
When Freeland said we need to relax and extend mortgage terms because "home prices are up because the economy is doig so well", I gained a whole new disrespect for the government.
Yes, so now your dream of buying and owning a home in A. Reasonable time has been disintegrated. Hey, we'll do a 40 year mortgage. A 50 year mortgage, like in Australia. Come on, man. This is crazy. They need to realize that extending the term of the debt does not make things go away and does not make it better. It costs you more in the long run, probably by 50 or $60000 to buy your house with interest. Add it on to that and other fees to extend your mortgage. It's a big scam. Anyway, once the thirty years is up, then what do you do you have to move because you're too old and you need to go into a senior's home. Then you'll be paying 5 to6 thousand dollars a monthRent there. They're actually doing what the credit card companies are doing. Oh, you're at your limit. We'll just raise the ceiling an extra $5000. Now you're not going to get penalized for being at your old limit, it's so stupid
Before the Great Financial Crisis, the previous government moved to extend mortgage amortizations, and the party currently in power rightly criticized them for it!
Freeland is currently speculating on condo's in London ( I assume she will be a citizen there after her reign), so I wouldn't listen to one single thing she says about housing.
They are laughing in our faces and it's only going to get worse
Can I get a bailout for my bad decisions?
How come the banks get a bailout with my tax money?
When was the last time you bought a seat at a $2000 a plate fundraiser? It's a pay-to-play system.
Because we live in an oligarchy.
How come the Banks get bailed out, that easy question they donate money to the political parties.
If you donate enough money you get preferred treatment also
Banks and Edge Founds financed the elections. The Government is actually and employee of the banks an Edge Founds. Fun fact, an Hungarian, living in Swiss, George Soros gave millions to Trudeau's campaign BUT I MYSELF A CITIZEN CAN'T GIVE MORE THEN 1 725 $. Cause, of course, Hungarian's have the right to control my government.
@@rotopope And bought some pedo art for hundreds of thousands
You literally just explained a giant ponzi scheme. But hey I don't know shit so don't listen to me
Yep. The govt bought MBS from banks through CMHC and if they go bad, CMHC will pay the govt by taking money from the govt. Reminds me of Obama giving medal to Obama meme. Only change is banks get to walkaway and taxpayer gets screwed regardless. Also MBS caused 2008 crisis in US, only difference is some banks were allowed to fail there. We suckers will pay to save them all up here.
won't be accusing the Canadian Gov of being erudite or moral or honest
Most all of us eat food ....how many can honestly cook a meal ... lmao should we all be controlling the country half assedly
Yah of course if it runs properly .. It runs for decades serving generation after generation ...imperfectly like humans ..but serving .....till greed, individualism corrupts.... They start again like uic CPP blah blah
I recently learned from some local government folks that a large portion of new building prices go to government to fund roads and other services for 10~ years (paid by the companies that build houses and covered by the people who buy the houses)
Instead of addressing the out of control costs, the government has chosen to support them on the backs of the consumer. No surprise there.
The thing is so much of our economic value is dependent on housing prices/massive private debt. A lot of that is in service of supplying retirement funding, easy solutions to this would absolutely destroy that.
To be fair addressing the costs is also on the backs of the consumer. They win and we lose either way
Gouvernement reduced the CAD$ worth by printing money for everyone during COVID.
Prices going up are a symptom.
Any good developed country runs a deficit, doesn't matter
@AB-ho1cr You know we're not bound to gold for a reason? Things couldn't get off the ground if we were
This works until mortgages outlive people - but I wouldn't put it past the Gov to start handing out generational mortgages
They already have on the UBC properties in Vancouver.
Oh no the bank’s plans are for bail ins and that means stealing all our bank accounts that have more than 100 thousand dollars in them
They have century long mortgages in England. Generational mortgages.
Get a Muslim mortgage -and, no, you don't have to be Muslim. Now allowed in Canada.
@@nikkijubilantwhere ?
Really, banks require more regulation. The entire idea of banking as "let's gamble" is terrifying. Because they discovered in 2008 that the government will always bail them out, there are no repercussions. These bank crisis are so worrisome. This whole financial crisis and the Great Recession posed the most significant macroeconomic challenges for the United States in a half-century, leaving behind high unemployment and below-target inflation and calling for highly accommodative monetary policies. And this is only the beginning!
"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered...I believe that banking institutions are more dangerous to our liberties than standing armies... The issuing power should be taken from the banks and restored to the people, to whom it properly belongs." Thomas Jefferson
Since 2020, the banks have been over-leveraging their assets, which was one of the reasons for SVB's implosion. I have never been okay with keeping much money in the bank. I simply focus on diversified investments through a financial advisor, collect my profits, which I either spend or repeat the process. Never been this comfortable with my finances.
I have learnt not to trust corporations, especially these banks. I was badly hit by the '08 financial crisis. Since 2022, I've just been focused on investing through a financial advisor and it has been paying off. No major loss has ever been recorded since 2022 i started. I'm closer to having $1,000,000 now than i ever was with the banks. I'm never going back to banks full time.
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.
I've experimented with a few over the past years, but I've stuck with ‘’Marisa Michelle Litwinsky” for about two years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
@27:30 "... unnecessary complexity to stop ordinary people from seeing what's going on...." Exactly.
Nope it is complicated lmao , more like making bread
That's the reason central bankers insist on the need for "independence".
Behind a curtain of secrecy takes place all the theft.
I was never a person who was angry about taxes. Well, I am no longer that person.
Bank, airlines and the auto industry have been bailed out over and over.
Socialism for corporations and capitalism for everyone else
I've long ago realised that it doesn't really matter who gets elected in Ottawa. It's Bell, Rogers, Bombardier, Irving, Loblaws, the big banks, and others who are in charge. They will ALWAYS get their money. Liberals in power? Conservatives in power? It simply does not matter.
@@MentalGainswhat a quote
Then look at what prices are have risen the most
Mate RY and TD have more AUM than Canada’s GDP…. People conflate the US and Canadian economies, AC was bailed out but people confuse financial institutions
Tied for 1st place as Canada's premier financial news channel. I get better info here than the Globe and Mail
What’s the other 1st place channel?
No... you absolutely do not. Window shopping for this kind of JAQ'ing-off (Just asking questions) type of content isn't healthy or informative.
@@JRuni0r 😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂
Ya you can get the "pros of shutting down non compliant covid defiant business's" at the MSM
@@JRuni0r Thats not a bad thing. To be able to get information consolidated by someone with the ability to look at it all and put it together is why you're on youtube.
Extended amortization does not make anything more affordable.
Nope not at all. But it does allow the banks to buy bulk insurance on existing toxic debt mortgages and dump liability on the taxpayer. “But they are fighting for you right?”
What a joke this country has become under the libtards.
Just more "accessible"
I wouldn't even say that. If you get more access, prices go up. Back to square one.
Like paying even more interest? Go for it.
The purpose of that is to keep house prices high. The economy can not take falling house prices since real estate makes up a third of our GDP. The government has a clear goal of eliminating single family dwellings and moving Canadians into apartments, seniors residences and for a lucky few garden homes, all of which count as "homes" in their statistics. If you build a seniors residence with 100 rooms and put two seniors in each room that counts as 200 new "homes" in Canada.
They also change what a recession is to avoid it
How does the government think new homes are going to be purchased over the next decade when nobody can afford rent let alone a down payment
And the rising municipal property taxes have become unattainable with extra taxes being dreamed up, just to give pay increases to have less being done to maintain infrastructure. The so-called elites are getting richer on the backs of the middle class.
True. & our banks tell us that we can't afford a $1500.00 mortgage pymt, even tho we're able to pay $2200.00/ month in RENT ! a new level of stupid!
Credit
Hopefully if new homes are built housing prices will decrease to something more manageable and realistic.. demand and supply.. Canadian government hasn’t done anything regarding lack of housing since the 70s and the skyrocketed prices of homes that were around 400,000 only 20 years ago that are now worth 1.5 million and up give or take it’s ridiculous.
exactly..deport 5,000,000 and there we are back to our great Canada
It's all a circle jerk to get the banks out from under their capital requirements, and at the same time remove all their risk.
I think you are being politically incorrect. Since DEI is part of Canada there are no longer just man in the government and banks there are women and LGBQ so it not really a circle Jerk any more but a debt orgy*** however I will grant you they will be jerk there still in a circle still
...by placing it on the tax payer.
They coerce us with homelessness and starvation into playing their game and tell us to suck it up and suffer the consequences of the system when we lose the game. Then they get caught cheating and STILL lose the game themselves but instead of sucking it up like we have to they get billions of dollars. A day.
Too big to fail
@Mrdevs96 correct. Truth be told, it's a global issue, greed, at all levels.
From the investor demanding growth to the board members doing whatever needs done to deliver, greed. I consider myself lucky to be in the west, to have a good income and a property to live in, but I'm not blind to the looming possibility that it could all be reset.
very simple Ponzi
Central Banks are the Evil that keeps
coming back.
The short periods in human history without these entities,
have resulted in the most prosperity.
We keep getting sold out by P.O.S. Politicians !!!
More debt is not a solution, it's just compounding the issue. The more debt there is the less stable our country is, at some point all of these short-sighted policies will cause a much worse crisis than if they didn't do anything.
The more debt, the richer banksters bonuses get.
What if a much worse crisis was their objective ? I don’t think they just dreamt about CBDCs and woke up drafting bills on them . The truth may be far more sinister ie the state totally intervening on the economy, like china , which only produces more tyranny, corruption and loss of liberties
Who collects on a national debt?
@@mathias8627 people in Monaco and the Hamptons
@@jordancarlin9687 I meant who enforces that collection, especially to a superpower nation like America? Those rich ppl putting together a paramilitary of mercenaries to take on the US military?
I and many others were sounding all the alarms during Covid, it was the greatest domestic policy failure in Canadian history. Over spending and over borrowing while destroying small businesses and the economy for a long time
It wasn't a failure, it was intended, the politicians were ordered to do this, it occurred in Europe, in the USA... the first enormous wealth transfer was in 2008, and then the pandemic added up on it. Agenda 2030 is the script for all these measurements.
The wealth gap cannot close because the system was not designed that way. The system is designed, so the wealth of the many flows to the few at the top by design, not by accident.
George Carlin was warning us of this since the mid 80s till he died. People thought he was joking, him being a comidian and all.
the system is not broken, it works perfectly as intended- siphon wealth from the working class & surges upwards to the 'owners'
we should not be bailing out our banks who have been posting record profits year over year
As long as a fraction of those profits go back to the liberal party. That's how it works.
@@davidsuzukiispolpot You know that the banks and other big businesses fund the Conservatives just as much, don't you? And the Oil companies fund them even more.
Best youtube video I've watched in a while, and I watch a lot. The clear delivery of information, lack of emotional frustration, honesty at the end about your own actions. You've earned my sub. Thank you.
Is it no wonder banks aren't afraid of making risky loans to clients knowing they will always get bailed out no matter how stupid they are?
exactly. there's a term for this, it's called Moral Hazard. if you incentivize institutions to take on as much risk as possible (because it gives them the maximum financial reward & they'll be bailed out when it blows up in their face) then that's exactly what they'll do.
@@epicurus95 exactly moral hazard!
I appreciate that you have boldly discussed what we are going through when it can blacklist people. How sad Canada has become
Heartbreaking
The temp foreign worker program has almost destroyed an entire nations economy. Wild times to be Canadian. I am currently planning my way out of here, after 20 years serving the military I did my part. Can't wait to leave Canada. 2026 is my year of freedom from this country and it's insane taxes and lack of healthcare and housing.
My job went from about 50% foreign workers to about 90% in the last few years. It's just very strange to see it happen. Most people don't speak English and it feels like I'm a foreigner in some strange country.
Thank you for your service and I truly wish you the best of luck.
@@maladyofdeath they all making money for someone living confortably in Vancouver Island, the most liberal place in Canada.
I hope you have time to do what you want to do .📟
Not only temporary workers scam, there is International students which come in disguise of students to get PR.
There is something very sinister happening in the background
Yes they are past the risk onto the citizens and doing QE NOT QT
Oh yeah eh? If you don't understand something and listen to another guy who doesn't understand something and admits that it's kind of over his head and then you don't go and look for better sources to get more information that's a good justification to conclude it's 'sinister'? "I'm confused so that means there's evil going on!"
The comments under this video are so concerning... it's just weird and ignorant conspiracies all reinforcing one another in an echo chamber. The creator isn't totally wrong by any stretch but also the lack of understanding and nuance means there's a whole lot of JAQing-off (just asking questions) going on to make people feel like they're uncovering some truth when they've learned nothing.
@@JRuni0r So, "JRuni0r, it seems you are assuming that the commenter either misunderstands or is confused about the situation, and you're transitioning from suggesting something merely 'sinister' to labeling it as 'evil.' However, it’s important to note that there is nothing inherently sinister or evil about economics or financial systems. While some individuals may manipulate economic concepts to present harmful policies as beneficial, this behavior could stem from naivety or malicious intent rather than reflecting the nature of the economic principles themselves.
Consider the numerous economists employed by the government and the Bank of Canada. With their extensive education, conducting a straightforward cost-benefit analysis is well within their capabilities. Therefore, a lack of transparency regarding information can be problematic.
I advise people to 'just follow the money,' a phrase widely attributed to the 1976 movie All the President's Men, which dramatized the Watergate scandal investigation. In the film, the character known as 'Deep Throat' uses this phrase to guide journalists Bob Woodward and Carl Bernstein in uncovering the truth.
Moreover, I suggest following not only the money but also the associated risks, as this can reveal who stands to benefit from economic or financial policies. Understanding these dynamics helps individuals critically assess government actions. Economic and financial tools themselves are not sinister; rather, they are essential for analysis.
If individuals are not informed about all the risks and benefits inherent in government policies or procedures, they may inadvertently fall victim to manipulation or deception by the government.
As Albert Einstein wisely stated, 'Unthinking respect for authority is the greatest enemy of truth.' Similarly, George Washington observed, 'Government is not reason; it is not eloquence. It is force. Like fire, it is a dangerous servant and a fearful master.'"
@@JRuni0r could you use your next comment to expand and explain this one? Tell us what we are missing so that we can all go to bed a little smarter?
@@JRuni0r
OK, well if you have more knowledge and you seem to say to be smarter than this guy, why don’t you start a channel and explain to us better as you seem to say or is it just to bash on someone to upgrade yourself
About every 10 years it's another bank bailout! Let them go broke like other businesses. It's bad management and the public should not have to pay for their mistakes!
Just like CBC. A billion plus dollars every year from taxpayers and somehow they still pay themselves performance bonuses
You do realize the implications of that right? Can you see passed your nose?
@@user-e7xn4q They shouldn't get to the spot of needing a bailout in the first place. Especially over and over again. Can you see passed your nose?
@@jaredc3608 I didn't argue that. The OP is a stupid suggestion to let a country go bankrupt. You clearly haven't seen countries that have gone through that. Snore. You and the OP are brainless.
That would impact everyone. Homes would be repoed, housing would crash and even those who paid it off they'd be fucked.
Selling a person's mortgage, should be illegal.
Isn’t these mortgage backed bonds what caused the sub prime crisis
This!
Shhhh!
No. Mortgage backed bonds are how the mortgage industry funds mortgages. It isn’t banks’ money that you borrow when you get a mortgage, it is bond buyers’ money you borrow. The banks are just middlemen.
When you want to buy a home that you cannot afford, somewhere there’s a little old lady who just sold her home and wants to generate monthly income from the proceeds. She buys BONDS with interest rates set by the bond market. The home buyer uses the little old lady’s money to buy the home, and they agree to pay slightly higher interest than the bond pays. The difference between the rate she earns and the rate the buyer pays is the margin that the bank earns for dealing with it all.
Banks cannot force the little old lady to accept a sub-optimal rate for her capital.
@@Mistmantle88 -- I may agree with you to some extent, but with a fiat system the banks don't use the little old lady's money... they create more fiat money to make the new mortgage. When a mortgage gets paid off, that money just disappears. That is why there are more contracts, loans, mortgages, etc. out in the market then there is money in circulation. We operate off of currency which is created and evaporated as needed. More $$ are not printed to cover those costs.
Once the little old lady puts her money in the bank, it is no longer hers. If she choses to direct it to Bonds, then that is generally treated as a loan to the gov't or corporation who can spend the money as they chose. The bank earns a percentage referring it to an investment firm for purchasing of the Bonds and the little old lady earns interest. Even though the paper she gets, has her name on it, the original money now belongs to the investment firm not her. This is important for people to realize, especially if a bank or investment firm or corporation goes bankrupt. Once you put money into the bank, you give up ownership.
@@mandrews1245 granted, but overwhelming the confused lay person with the nuts and bolts isn’t helping them to understand anything on a larger scale.
I think that's by definition a scam
Doesn't fix that there is no jobs, to pay for a house
Subbed. Hope you get 100k subs soon. This was a great presentation.
Thanks so much, I'm glad you enjoyed the video!
wow this guys ability to take such a complex idea and dumb it down for us regular simple folk is outstanding
The government can not fix Canadas housing problem. The banking problem they can fix If they are willing to put the future generations into crushing debt. We are unproductive in the manufacturing world, so wages have been going down since the 1970s. Our resource extraction is no longer paying the bills, so we borrow. All the while increasing the population to such an extent, we can no longer put a roof over the new Canadians' heads. The agricultural sector is facing challenges of new producers in the global south bringing millions of acres of new farmland into the picture. Food prices are falling in Asia, thanks to low-cost Chinese farm equipment being exported to Africa and Eurasia. All this is being done outside the North American financial system, and without the staggering cost of EPA pollution reduction equipment or carbon taxes. All the price and production data we had in the past is no longer available so farmers will not even know the price paid for grain we used to sell before competition showed up. Canada had better get its head out of its ass or we are going 3rd world.
Going 3rd world is the plan, that's why they are bring in the 3rd world immigrants. They will show us how its done.
We’re headed for 3rd world status 🤟
@resolutejku This is the hard truth wealth was never destined for the people. A system that gives advantage to those already wealthy was always destined for monopolies and eventually a small few will hold nearly everything
As long as the present party never ends you're right. What would happen if all the fantastically overvalued stock markets imploded. I don't even want to think about it!
Canada is given up its sovereignty to USA. Turdeau has exchanged Canada's future to be part of the WEF Young Leaders Program... I wouldn't be surprised when all of this ends, in 2 decades, Canada will be integrated into the USA.
Haven't we seen this shell game before.. only it wasn't in Canada..
😢
Ummmmm... like 2007-2008.. really sucky time itself.. 😮😢
Sure its like it, its the continuity of a problem that was never solved.
@@mikaellavoie6811 honestly what do people expect ? We vote for a government every 4 years of course they’re gonna treat their governance like a rental. No one wants to have a real discussion but monarchs had more accountability when governing. Democracy is just a political guise to get people to comply easier without them getting held accountable
@@CaptainSurfyExactly this, the monarchs family would have already dethroned him by now to try and save the bloodline and country. Instead we sit and watch bad decisions for 4 years straight while they laugh about it.
@CaptainSurfy ?? 🤔.. you think we'd be better under a monarchy??.. really..
Maybe I'm just toooooo Old, lol..
But.. my faith in "monarchy" that I might have had left in my 20s.. was blown out of the water after I witnessed what happened to Princess Diana, with the Royal family.. the public is general..
Sure was Not a fairy tale. Well, the fairy tale of happily ever after..
What we've found is that the monachy really is not different than common folk really.. & titles are arbitrarily given, usually for life.
Poor Princess Di.. she was 1 day older than me.
And.. there's a reason the common folk of England, forced the King (can't remember his name at the moment) to Sign the Magna Carta..
Because things were soooooo fair fir the common folk before that document..
Just saying..
And .. obviously the States is not the utopia they wanted..
Hell, they have strayed soooo far from their "declaration of independence" they have become the kinda colonizing country they fought to get out from under !!
Seems power does ultimately corrupt the system...
There are no easy answers..
& people Themselves need to stop using housing like it's a slot machine.. not just the government.
Who, in their right mind, willingly forked out over a million for a house in general.. if u had the cash to pay for it great...
But.. if u took out a mortgage ~ did u ever add up the interest u will pay on a 25-30 year amortization.. and still think you were getting a good deal ??..
I know we all have to pay 'rent' in our lifetime, but do the math on your interest payments, even over 20 years.
Guarantee it's much more money than you'd think. We did, back in the 1980s. Interest was waaaaaay higher & our principles were Much lower.. minimum wage was also around $5/hr.
But.. a waaay bigger principle at a lower interest rate, still adds up to one hell of a lot more money than you would expect.
Should have made people much wiser in what they would have willing paid to own a home.
@@christineelsey3104 we were actually for centuries but of course there was also bag kings and queens. But in general we were better off because those people couldn’t think for themselves only if their bloodline was to continue running the show.
The Century Initiative pushed by McKinsey, Blackrock and Brookfield Asset Management.
All JOOs
And our very own government. They should but on their platform when campaigning. Why so secretive?
It's time to ban all these self serving, fee grifting so called "advisory agencies" altogether.
They are a disaster promoting idiotic policies that enrich themselves and their friends while bankrupting the nation.
(((Larry Finkelstein))) BlackRock bought half of Ukraine.
W . E . F -----> they are doing it to wealthy, civilized Western nations
This reminds me of the AAA/AA mortgage backed securities that ended up causing the US 2008 financial crisis.
"reminds" you of??? Th5us is EXACTLY what it is!
This isn't going to end well for anyone (even the banks). All they do is kicking the can down the road.
Sounds the same to me too.
Repackaged trash?
Had me as soon as he got to the part how they can back overnight borrowing with housing bonds.
Tri cities in the Fraser valley had a peak standalone sale price north of 1.6M, current moving price is 1-1.2, with 72 listings on last Friday and 23 sales.
I need to get out of the real estate market.
Yeah, how do I short this? Is it possible
@@ianringelberg817short it
Temporary foreign workers? They didn’t come here temporarily they are here to stay. A lie right off the bat.
Yup, they basically funded ontario by pay 3x the price for college and we're required to come with a $10k GIC. Canada is basically scamming them.
It won't stop until their pockets are full.
And more. We're entering an ultracapitalist era. Rules are for the plebes is their motto.
I think you are mistaken they will never stop*** I think you are just wishful think if you think they will stop when their pockets are full
And their pockets will never be full. Enough will never be enough
they won't stop until they own it all, this has happened many times throughout history - the infallible, endless greed of humanity . they preach regular people to cut down, while they fly their private jets around the world taking it all. people need to wake up
Think you may mean wheelbarrows and will all be needing them :)
I do not understand why the government gives them a bailout, vs a loan with interest. We should not be dishing out grants to private businesses as big as the banks. I also do not understand how they can possibly need bailout money when they make massive profits each year. One bad year takes them down? This can only be due - in very obtuse terms, to the bank paying out too much to shareholders, etc.. No savings for a rainy day as they always instruct us citizens to have. Tantamount to theft.
In the financial sector, we refer to this as a Ponzi Scheme.
We need to stop using terms like "government" or "CMHC-backed mortgages" and recognize that it's the Canadian taxpayers who are ultimately responsible for this debt. Just like with immigration, it's outrageous that a small group of individuals within the government can make decisions that significantly impact the future of our lives and our children.
B.C is such a crazy place, brand new condos being built on one street, while homeless addicts live under tarps on the other side ..I am considering leaving for good, the have/have not dichotomy is getting too extreme
It’s funny that builders are saying a new home isn’t profitable for them. Pre 2010s home builders were happy making 50-100k per build. Now they want 300k+ to be considered profitable.
Well development fees have apparently skyrocketed since then so….
@@TheNewSchoolGamer -- There are several reasons housing costs more. The developer must find land suitable to build a home or community, paying millions $$ to obtain it so they can begin the building process. Then zoning. It is generally a lengthy process to get zoning changed which will allow multiple housing built. Local gov't may protest and people in the neighbourhood. This adds time, money and more costs. The gov't requires studies on environment, animals, underground water, traffic patterns, fire and safety, etc. Each of these are done by experts in their field and can cost a few hundred thousand dollars.
Then more revisions to a proposed site plan including architects, drafters, contruction management, etc. And when everything gets approved, often taking 5 - 10 years.... The municipality starts putting in the infrastructure of sewers, water, electric, roads, etc. These must be paid by the developer before building starts. Now we have crews who have been waiting to start work and may not be readily available after all this time, and want more money. Building supplies have increased dramatically and these add to the costs. Then many people start adding 'extras' by upgrading and this increases the cost of homes.
Yes, developers and builders do make a good profit... but they take substantial risks and spend a lot of money not knowing if their planned housing project will finally get approvals. There have been a number of communities and condo's which after all this money is spent... are not successful. I had a large development not succeed where I used to live do to neighbourhood resistance, and now I find, a townhome development has been built near me, but sitting empty for over two years.... So it is still not approved for occupancy by the gov't.
What was minimum wage in 2010? Minimum wage goes up then so do paid professionals salaries.. it’s a domino effect inflation inflation inflation.. let alone materials and so forth
Canada LARPing as Lehman Brothers
If you didn’t need another reason to switch to a credit union and leave your big 5 bank today, this is it. Credit unions support local communities and businesses while often charging far lower fees and more reasonable minimum balances for free banking than any big bank. Plus a lot the time they’ll beat big bank rates on secured loans and mortgages
Can you make a video summarizing Pierre Poilievre’s economic policy? I actually have no clue how to view the guy
basically his policy is; if we cant afford it you cant have it. which resonates with me.
Hero.
his policy is: "increase immigration more"
Lmao . Your hero just called for lower interest rates - which is what destroyed economies in the first place . We haven’t got a collective clue in this country . God save us
More globalism and mass immigration, im planning to leave Canadastan
Weren’t mbs the catalyst to the 2007 financial collapse?
Yes, MBS was one of the catalyst because the MBS hide the risk
Yes and CDO's. And mis-represented securities courtesy of the ratings agencies. Dog poop wrapped in cat poop.
It looks like a recipe for hyperinflation with a government sovereign currency guarantee on the cusp of a baby boomer mortality cliff. The mismanagement of the immigration portfolio in producing temporary shock admissions of temporary workers & students, to increase education profits at the cost of housing & inflation makes me believe that they have lost stable economy core principals. Thanks for your seminal balanced views. Your one of the few that doesn't talk out of your a$$ & doesn't give the 1 percenters a free pass. Cheers Bro.
2028-2029 it begins
Mark carneys pawss are ALL OVER THIS
The guy will push dystopian CBDC as the economy implodes.
Oh the WEF Board of Trustees member? Who sits on the Board with best friend Freeland?
this is why when my parents die im following them from my own will soon after there is no point in living if it wasent for my parents i wouldve left this world already i stay for them once they leave im gone
Wow, very good content. Honest and to the point. These policies are just stealing from our kid's future... Horrible slow degradation of our country.
Great video brother, I work in finance myself and it's absolutely sick what liberals have done to this country.
Sounds like some builders has some politicians in their payroll 😂
Politicians themselves are heavily invested in the real estate ponzi scheme.
So yes they will use taxpayer money to keep the bubble going no matter how much damage it's doing to the economy.
So happy to see young people educating themselves about finance. Young people, heed this young man’s advice. Educate yourself and take action or you will be on the wrong side of history. “Focus on what you can change…”. Brilliant advice.
Real estate in small communities are going to have a very hard time. Specifically, all the ones that saw massive price increases during the pandemic while everyone was able to work from home and flocked to cheaper housing.
Sales are extremely low but prices are still up. Locals can't afford the prices and the city buyers aren't looking that way at all.
A house in Kitchener is the same price as in a small town like Mount Forest.
Will be very interesting to see how it plays out.
Watching a guy like you slowly figure out how the world actually is is super satisfying. Your videos are helping to educate many as well. Keep it up!
Thanks Josh!
@@russellmatthews I totally disagree. I wish you'd take some Khan Academy lessons and actually get a basic understanding of the concepts and just as importantly how much you don't know and don't understand and then go out and find people with expertise on these topics and then try and amplify their voices and messages instead of pretending you can DIY an Econ degree as you push your opinions onto others doing little more than muddying the waters.
I'm 95% certain most of this video is you paraphrasing millennial moron's content having put in a fraction of the effort.
While I acknowledge you hedge your opinions with the caveats that you don't really understand any of this and it's over your head, you're still trying to 'fake it till you make it' and the lack of quality analysis along with the JAQing-off (Just asking questions) only adds to the unease and ignorance of your viewers. You're not like, entirely off but you're also not adding anything of value to the materials you're paraphrasing off of.
This all sounds mean and you'll probably dismiss it as trolling but, outside of personal gain and the hopes of making money as a full time RUclipsr do you actually feel like you're adding value? I mean, just go through your comments. Your audience obviously aren't well versed in these topics and instead of introducing the basics and core concepts you've jumped into analysis and opinion. Ooof my guy.
Consider the numerous economists employed by the government and the Bank of Canada. With their extensive education, conducting a straightforward cost-benefit analysis is well within their capabilities. Therefore, a lack of transparency regarding information can be problematic.
I advise people to 'just follow the money,' a phrase widely attributed to the 1976 movie All the President's Men, which dramatized the Watergate scandal investigation. In the film, the character known as 'Deep Throat' uses this phrase to guide journalists Bob Woodward and Carl Bernstein in uncovering the truth.
Moreover, I suggest following not only the money but also the associated risks, as this can reveal who stands to benefit from economic or financial policies. Understanding these dynamics helps individuals critically assess government actions. Economic and financial tools themselves are not sinister; rather, they are essential for analysis.
If individuals are not informed about all the risks and benefits inherent in government policies or procedures, they may inadvertently fall victim to manipulation or deception by the government.
As Albert Einstein wisely stated, 'Unthinking respect for authority is the greatest enemy of truth.' Similarly, George Washington observed, 'Government is not reason; it is not eloquence. It is force. Like fire, it is a dangerous servant and a fearful master.'"
Mass "immigration" puts pressure on a lot more than just housing system. Puts pressure on healthcare, transportation, education, municipal services, cultural systems, the list goes on.
It's all one big lie, they need you to believe the lie, the truth will fill you with rage.
It is so visible that 95% of the problems that Canadians are facing now are by- products of unlimited immigration in form of temporary workers, International Students and refugees.
well well the only way to fix is to bring more in isint it? lol
These new LEGAL immigrants are at times forced to share rooms. My friend met one that had a housemate you slept in a furnace room. They're not poor people from their countries but there literally is no room anymore. Plus, less people choose to rent out their homes because the government protects people who refuse to pay rent or move out.
@@xCestLaVie1 yes it’s not the fault of the immigrants obviously, they’re taking the opportunities that come to them in hopes for a better life, but the point being that we literally don’t have the infrastructure to support a massive and rapid input of new people is still true, the government lied to them in order to fill shitty job positions so large corporations can continue with their profiteering business models, this was an insane economic experiment and most agree it’s done more harm than good
Stop all intervention. Let the free market correct this problem as efficiently as possible. Then let’s pray we can move forward. Tired of being repressed to support a repressive system. Tired of patches on a broken system.
The free market is a fallacy. All aspects of the market are Manipulated and controlled.
What you're asking is for a complete system failure and canada has no control over that. It will happen when the US Billionaire class decides and not before. Unless we enter nuclear war or the polls (North south) decide to shift dramatically.
They will stop intervention after they save themselves first. Then let the public take the loss.
Can't it's all built on a house of cards in the first place we are truly here to ride it out that's the best choice but it would really help it certain politicians and friends of said politicians stop one of the greatest wealth transfers in human history to themselves possibly. But hey I don't know shit I am not educated on this topic at all so please don't listen to me I am probably crazy
"Let the free market correct this problem" Oh boy...
@@SirBojo4 i agree we got to this point with a free market why the hell would pulling money out of regulations make the free market any better especially when there are so many people who fully understand how to manipulate the market unfairly to crash the whole system and make off with a boatload of money
In the USA when the government buys MBS it’s called quantitative easing.
Yes you are right the government and BOE are doing more QE than QT
Also known as money printing or better yet wasting the public's money to do bailouts and bonuses for banksters who gambled and lost.
Banks aren’t going to care who they give mortgages to
Ah yes, the next steps towards no one ever actually owning their home. Easier to control you when your a slave to the lender for longer
"The rich rule over the poor, and the borrower is a slave to the lender." - Proverbs 22:7
When those CMHC loans start going down the drain, guess who is going to bail them out. If the current idiots in charge, stay in charge you can be sure your taxes will be going up like a rocket to cover for fools and their expensive new houses.
No tax increase is going to cover what is coming.
If I borrowed from Peter to pay Paul I'd go to jail for "kiting."
Thank you Russell for all these informations. You’re doing a good job!
I appreciate that!
>No government can correct the damage done over the last fifty years that has led to high prices of goods and services here in Canada. The reason is because these high costs are not inflation but the reaction to inflation. More precisely, it is the devaluation of the dollar that causes these high prices.
>A dollar today is worth about three cents compared with a 1971 dollar. That is the key fact. This devaluation means we need more of these devalued dollars to buy anything! The factor is thirty times. Prices today are roughly thirty times what they were in 1971, plus salaries have not kept up with this. The cause has been the constant deficit spending by our governments since then. The Conservatives will not be able to change that unless they cut all the deficits for the next twenty years, perhaps even thirty years. That will mean huge cuts. There is no way out of this box.
>With the trillions in wealth to be transferred from the Boomers to the next generation, maybe, just maybe, some act of parliament could be used to pay down the national debt from this wealth transfer. The next two generations will pay for this no matter which Party is in power.
One more thing; there is a lot of money sleeping in offshore accounts just waiting. When the time is right this money will come out of its hiding places and buy up the country for peanuts on the dollar.
There is no third option.
This is insane that they are 'losing' money. I paid 28K in interest payments with like $700 on my premium. That's nuts man that they could be losing money.
It's one big grift when you think about it. All the western countries are in a similar situation due to their similar progressive ways.
Canada has and is on the biggest decline.
There is no way in hell 4 million will be built. they are dreaming. They won't need it as people start exiting the country and the replacement rate is less than 1.3.
It reminds me of an interview of a previous Provincial Minister. Hospitals were closing across the province. When asked whether he regretted building all those hospitals now they were closing. He replied: No. I knew they were not needed and would have to close.... but I couldn't get elected if I didn't agree to build them.
Mortgage Back Securities. Hmmmm, what could possibly go wrong? If only we had a real life example to study...
I'm not sure how Canadians can afford new houses when a bag of groceries costs 100 dollars. 160 dollars to fill up my trucks gas. Taxes are up. Employment is down. Most companies are offshoring as many jobs as possible. Food banks are being flooded. Government is spending hand over fist. Inflation is up dramatically. Ethics violations and slush funds. The regulating government bodies in every sector of business are promoting paying the government for monopolies. Corporate greed and government miss management... Oh wait a minute people can afford a new house because the government will make it easier for people to become more indebted. We are from the government and we are here to help you become house poor. Yw
House construction slowed down because greed has led to prices hardly anyone can afford. Even resales are so overpriced that nobody can afford them.
Rising interest rates played the biggest role in this over the last couple years
Coming to theaters in 2028 "The BIG Short 2: will they ever learn"
Its not that the gov't or bankers or investment firms need to learn.... they know exactly what they are doing. It is the public which needs to learn to stop think the gov't has your best interests at heart.
To summarize your video, you just described the structural problems with a rentier economy, plain and simple.
" generational fairness" = we will let you have more leverage......brilliant lol
Its extortion with extra steps...
It is a scheme. All of it. Outside of a few cities a 1.5 million house is luxury detached home. Put 5% down on cmhc and pay $60000 fee and the cmhc mortgage is the best rate on a mortgage. So in most cities this is a debt magnet with the govt picking up the tab if you lose a job. Bonus for everyone but the person buying the home.
It would be interesting to get a comment from Pollivere and Singh regarding this risky sounding solution. Allowing the banks to lend based on the daily bail they need to balance the spreadsheet. I think the banks should invest in shovel manufacturing because they‘ll need a lot of shovels to dig Canada’s grave at this rate.
Keep your money out of these banks and buy gold/silver
gold, silver & useful digital assets like XRP, the new financial system will all be digital
@StevenJeffrey-h2g xrp is trash dude.
Most ppl are living paycheck to paycheck and cannot afford gold silver or anything else outside their basic needs
@mathias8627 well people need to quit buying bran new dodge rams and eating out. Or maybe get a job that is actually useful that pays well. Most the trades make a livable wage if your not spending like a mad man.
@@SupportThe0ppositeNPC leasing a brand new car is crazy, I see 20 year olds driving new Mercedes Benz their monthly payment is more than rent xD
what makes you say the banks are having a hard time meeting capital reserve requirements when it is well known that they all exceed the minimum requirement by a wide margin?
I think you are starting to see the corruption, but you have a very long way to go yet
Great content - When we say that these mortgages are "backed by insurance," we are specifically referring to mortgage insurance that is provided by insurance companies, often with the backing of the government. Or the fact that Gov will always bail out the banks by continuously purchasing the MBS from banks?
At the end of the day tax payer citizens are always left holding the bag
💼
almost 70% taxes, absolutely insane. If you made a million bucks, you maybe get to keep 250k LOL
@@StevenJeffrey-h2gno one is paying 70% tax at a million a year. Our accountants make sure of that. Marginal rate is more like 26%… don’t lie.
@@shawmahawk5714 it's 68% in the Maritimes....
NO ! to artificial price support for overpriced real estate.
Let real estate prices fall to what people can readily afford.
No bailouts for special interests.
We currently do not have enough homes in Canada, real estate will rise.
Research Venezuela. From a prosperous country to extreme poverty. Then you will know where we are headed.
Completely different situation, can't make a fair comparison of Canada and Venezuela
Thanks for providing this kind of content. Regular Canadian need to learn more about how money cycle really works.
You said government is over grown and spends too much and the BoC is mot doing what it was not made for
BoC which is supposed to be owned by we the people has been hijacked and turned into a country club serving banks.
Plus Tiff Macklem is incompetent and running the economy into the ground.
I'm pretty sure it's just greed on the part of house builders and not non-profitability. Houses used to be much cheaper and cheaper compared to people's buying power and inflation. They were profiting just fine. The solution isn't to give them more people who can buy these unaffordable homes, it's to make cheaper homes. The companies just don't want to see their profit margin go down and their stock get hit because shareholders can't look forward to as big of a stock buyback using/wasting those profits.
If the government is willing to put so much money into it, they should get into building affordable homes themselves if they actually wanted to help people.
Big distinction. They promised 4 million more new "*Homes*"
They did NOT promise 4 million more "*houses*"
Soviet style block units, here we come.
Exactly! And if we work hard, one day they will allow us to move into a little bigger unit down the street, maybe
To be fair, they did say they never intended to make actual houses. Trudeau has said over and over that they're going to make rental units
@@kylequinn1963 I'd disagree, I'll acknowledge that hes *mentioned* they were rental units (owned by who? Hmm)
But he calls them homes, all the headlines call them homes, with the (imo) intention, that the avg people hear that the government is building "homes" and think a house, and not a 1 bedroom apartment.
Communism anyone?
People need to think outside the box and leave cities to move to smaller communities. The mindset needs to shift back to the basics. Cities are becoming more prison- like than ever
In the US we now have the Dodd Frank law signed in by O Bama. Now we have bail ins...taking customers funds yo cover bank losses.
The issue here is really the amount of debt that the governments (fed and Prov) run up. The Fed govt thru the bank of Canada creates money mostly through the private banks which they control completely. The fed govt flooded Canada with cash during the pandemic through all the means that were explained here. They did it quickly and without a lot of forethought of the unintended consequences. They wanted the money into the hands of everyone so they put policies in place that allowed the banks to make loans they ordinarily wouldn't. The govt kept interest rates low so that ordinary Canadians would borrow more and consume more keeping the economy moving (no recession).
Then the Fed Govt brought in more immigrants, Temp Foreign Workers, Foreign Students, refugees and allowed illegals to stay. This resulted in several million new Canadians. The Fed Govt also increased the number of civil servants again pumping more $ into the economy. All the increased spending paid for by debt kept Canada out of recession. Then they started to cut interest rates and pull $ out of the system as the economy started to stall.
Because of all the above their isn't enough housing, healthcare, education spaces and the cost of everything has gone up over 20% since 2020. So now the govt has put policies in place through the commercial banks to get more money back into the system mostly directed at housing! So they are taking it out with one hand and putting it back with the other. The fed govt is reducing the BOC balance sheet but putting the loans into CHMC. Its a shell game just moving the debt around and masking it all by moving it through commercial banks.
Its the BOC that sets how much "reserves" the banks must hold, their interest rates are set by the overnight rate the BOC sets. The government sets up the insurance programs for mortgages otherwise the banks would not make these loans.
So this really isn't a bail out of the comercial banks, they are just a cog in the wheel of the govt loan process and how the BOC creates or reduces liquidy within the system
The real danger here is the total amount of debt owed by the government as well as private debt owed by ordinary citizens.
It all goes back to the housing market value which the government allowed to spike this high and reaped the benefits from it
@@CaptainSurfyReaping the benefits from something that provides no value beyond its scarcity in a nation that could easily end its scarcity problem... we're cooked.
It's called sleight of hand, the shell game, and magical money. What could go wrong? Well, Canadians have no disposable income, massive debt, and rising prices for starters. This could be a souffle of paper chasing paper and one sneeze could drop it like a stone.
It was mortgage backs securities that caused the 2008 financial collapse in the united states.
Ya.. no shit. So?
Never hold any cash buy assets Gold silver real-estate or what ever you feel safe governments will keep devaluating the value of the money to be able to pay back the debt they took.
Real estate is far from a guaranteed safe investment. Governments have the power to seize property through mechanisms like eminent domain, and excessive taxation can erode your financial gains, leaving property owners burdened by escalating costs."
Example: Imagine purchasing a home as a long-term investment, expecting its value to appreciate over time. However, the local government increases property taxes annually, and soon, a new infrastructure project requires the government to seize part of your land. The compensation provided is well below market value, and the mounting tax burden severely diminishes any potential profit, making your 'safe investment' far less secure than anticipated.
I disagree about real-estate
1. Eminent Domain and Urban Renewal in the U.S.
Example: Kelo v. City of New London (2005): In this U.S. Supreme Court case, the city of New London, Connecticut, used eminent domain to seize private homes for a redevelopment project. Although the property was taken for economic development rather than public use like roads or schools, the Court ruled in favor of the city. The homeowners were forced to sell, often at prices below market value, demonstrating how the government can legally seize private property for broader economic purposes.
2. The Soviet Union's Collectivization (1920s-1930s)
In the Soviet Union under Stalin, private land ownership was virtually eliminated through forced collectivization. The government seized millions of acres of privately owned farmland and transferred it to collective state farms. Many property owners, especially the kulaks (wealthier peasants), lost their land, homes, and in many cases, their lives. This is a stark example of government seizure of property, with no compensation or protection for the owners.
3. Nazi Germany’s Aryanization Program (1930s-1940s)
Under Nazi rule, Jewish-owned properties, including real estate, were confiscated or forcibly sold below market value. The process, known as "Aryanization," transferred Jewish businesses, homes, and assets to non-Jewish Germans. This state-sponsored seizure not only stripped property owners of their wealth but also demonstrated how government policies can exploit private assets for political and ideological purposes.
4. Property Taxes and Land Confiscations in Post-Revolutionary France (1790s)
After the French Revolution, the new government imposed heavy taxes on the wealthy and seized property belonging to the Catholic Church and aristocracy. Much of this property was sold to pay off national debt or redistributed to the public, severely depleting the wealth of former property owners. The policy of "assignats" (bonds issued on the value of seized land) also destabilized property values and led to rampant inflation, undermining property as a stable investment.
5. British Land Clearances in Scotland (18th-19th Centuries)
During the Highland Clearances in Scotland, landowners, with the backing of the British government, evicted thousands of tenant farmers to make way for sheep farming, which was more profitable. Many families were forced off land they had lived on for generations. This government-supported restructuring of land use led to widespread displacement and loss of ancestral property.
House have been priced beyond the people's income. Extending the amortization creates debt slaves and does not solve the problem of house costs being beyond the income level. Houses prices used to be around 3x income now it is 9x, no wonder the average person cannot afford to purchase a home.
Nothing in this matters to me at all because even with a 100k per year salary, there is zero chance I will ever own a home, and a 100% chance of maid instead of retirement.
#letitallburn
How? Are you also supporting a large family?
@@m.bird.Are you an older guy bird?. Go plug 100k into the CIBC affordability calculator and tell me what home you could afford with that maximum approval. You'd be lucky to get a house anywhere.
Young people are not joking or messing around. Those articles about needing obscene incomes to afford homes aren't for shits and giggles. People cannot afford homes whatsoever. People need over 100k income just to own a home, that's not including the incom they'd need to support a family.
@@m.bird. i make close to 100k, no chances of buying anything decent. you need 100k downpayment first to get a condo in Toronto. Unless you parents give you cash or you have a partner that also makes a lot and that pays the bills and rent while your income goes to savings, no chances..
@m.bird. no I've given up on that along with the home. They kinda go together IMO. Median income for home ownership in my slaver province is over 200k.
Congrats on 100K 🎉
Thank you so much!:)
The IMF threatened all countries who weren't having any issues with the beer bug, that they had better close their countries and print a ton of money or they wouldn't get their IMF loans the next year. Canada already has an almost half a trillion dollar spending program planned for some time in the near future regardless of which party is elected. It is only on paper at this point but the federal government plans on giving most big Canadian cities 50 to 70 billion dollars to battle climate change (a giant gentrificatiin plan if you will). The money printers are going to be run again very soon and now that Canada only has one real industry, government, we are well and truly a fallen nation. We won't "collapse" because that is not the plan. I wish we would. We need to cut all federal government spending by 50 percent and deregulate numerous industries and then just suffer for a decade while we rebuild.
This government is the required proof women’s franchise needs to be revoked. 9 years of misrule thanks to bitter wine aunts.
Cash into the economy through government bonds or mbs is still QE, no? Seems like some really duplicitous spin doctoring to me…
Yes it is called QE in economics so the BOE and the Government are doing more QE than QT
@@ardentenquirer8573
It signifies failure and their incompetence at running the economy like some Soviet central planner.
Most member of Parliament is a landlord, or even own developmer companies. That's why they are privatizing the profits and socializing losses every chance they get.
The government will debase the dollar by so much that 1.5 million will be the cost of a starter home 😉