Josh Sigurdson talks with author and economic analyst John Sneisen about the continuing decline of the Canadian housing markets as banks like BMO warn that this type of decline normally leads to a recession and that this recession will be worse than the previous.
This is an issue we have been covering for many years as the bubble inflated, the peak of the bubble and the massive drop in value as the housing bubble bursts. Now the banks are finally admitting that this is a problem only to cover themselves when it all comes down so they appear to have been on top of the problems. They are one of the major reasons this is happening in the first place.
The vast market manipulation, restrictions and debt that has been piling up at the hands of the banking system and the government have created an inevitable collapse scenario that we are truly starting to see today as markets plunge with temporary improvements propped up by the central banks in order to keep us complacent with the current situation.
John explains how we saw this coming and what it means down the line as we head into the bursting “everything bubble” worldwide.