Josh Sigurdson talks with author and economic analyst John Sneisen about the Canadian Federal Deficit which has reached $5.9 billion half way through the fiscal year.
As John goes into, Canada’s private debt to GDP has reached 266.89% in 2016 (the 2017 numbers are yet to be released and are likely to be much higher). The Canadian private debt to GDP is the highest in the world according to Trading Economics.
Currently, Canada’s consumer credit is third in the world at 594,551 CAD Million.
This system HAS to come down. The fundamentals are off the table due to the level of manipulation in both the monetary system and the markets. We know it’s going to happen we just cannot call the crash by the day or even month. The markets and economy in Canada are incredibly unsustainable. This is why people need to prepare themselves.
While the media continues to make claims that the markets and economy are doing better under Trudeau, the truth is the dollar appears to be climbing compared to an even further devaluing US dollar. The markets are overheated and the debt accumilation is astronomical.
From housing markets in Vancouver and Toronto to vast fiat printing at the Bank of Canada, a pension crisis, a stock market crisis and a tiny labor force participation rate, when this comes down alongside global economies and markets, it will be like nothing the world has ever seen.
So people need to solve this issue independently because the state and banking system depends on debt. So people should look towards over preparing in the worst case scenario which is certainly better than not being prepared at all. Food, water, shelter, defense, gold, silver, Bitcoin, decentralized assets, all of the above can be crucial to insuring wealth and surviving a crash that will make 2008 and the Great Depression look like nothing.
Stay tuned as we continue to cover these very prevalent issues.