Josh Sigurdson talks with author and economic analyst John Sneisen regarding the massive level of instability at the TSX (Toronto Stock Exchange) as it drops more than 200 points.
The stock market is overheating and something we at WAM have been warning about for so long is finally coming true. The heavily manipulated derivatives markets are reaching their inevitable end.
So far in 2018, Canada’s gas and oil industry has tumbled more than 6%. This is incredibly dangerous considering Canada’s vast dependence on oil like many other absurdly centrally planned countries.
Canadian stocks are trading at their lowest since October. The chart shows free fall.
Meanwhile Canadians are being taxed on income at a shocking rate while corporate taxes stay almost entirely unchanged. Interesting coming from a government that claimed they wanted to lift the lower class and stop big corporate monopolies. Funny enough, the massive corporations continue to be propped up by government regulations and taxes while small businesses are forced out of the market as they simply cannot compete against the government’s favoring of major corporations.
This is why we need to look to ourselves for self sustainability and financial responsibility. Responsibility period. That is after all the hallmark of freedom as we so often mention here at WAM.
Stay tuned as we continue to report on this. We are seeing stocks fall fast in the U.S. at the same time. It’s times like this where proper preparation comes in handy.