Josh Sigurdson talks with author and economic analyst John Sneisen about the rise of debt in Canada as studies confirm that Canada’s world leading debt could be its downfall in a global crash.
This goes without saying of course and plays perfectly into what we’ve been talking about for many years at WAM, but nonetheless, we break down this latest report from the Macdonald-Laurier Institute and how it affects the average person.
With debt skyrocketing in Canada, there’s a reason why Canada is so entrenched in money printing. There’s a reason why Canada has so much debt in every sector. Centralization is key to why this reality stands before us.
Compared with many of the world’s most indebted countries, Canada is considered one of the worst. Total credit for the non-financial sector in Canada as a proportion of GDP was 305.7% in Q2 2019! Since 2008, that debt to GDP ratio has risen 32.5%. The average in other advanced economies has been 13.8%.
The recession never ended and this is simply part of the global slowdown. The everything bubble if you will and we can assure you there are many bubbles in Canada brewing right now. They have been brewing for a long time. The longer they’re pushed off the worse they are.
All fiat currencies revert to zero eventually.
Will there be a banking crisis in Canada? Where does Canada stand on the global stage when the dominoes fall? All is broken down in this video.