So What About Canada....
The pundits are only now beginning to croak about what I have been saying for the past 6 years in Canada.
What have I been saying?
"That this monstrous debt bubble that is propping everything up and causing everything to disconnect in Canada is going to end very, very, badly.
I was so adamant about the whole ordeal that I took the time to write our Honorable Jim Flaherty and Mark Carney (Canada's central banker at the time) about the catastrophic consequences that caving into the debt junkies who screamed during the first collapse of 2008. They should NOT have lowered rates. There was no need to at the time. Let the correction happen. However they did not do this and now you have an even larger and more problematic situation. Except Carney ran away to the UK. So the guy who caused it is gone.
I feel sorry for Justin Trudeau. He is baked like a french fry as a leader. Seems like a nice guy too. That is too bad for him. Canadians are going to barbeque him alive.
Short real estate. Short Stocks on the rises. Short Canadian Oil. Short the Real Estate ETF's. Short commercial paper. Short just about anything you can. It is all over priced and due for a very large correction.
If you are a Canadian now is the time (well actually about a year ago was the time) to sell. Now you might have a hard time finding a sucker.
Will the bank of Canada lower rates more this year?
Does a fish need water to breathe?
Yes they will. They are desperate.
I take no pleasure that this is going to happen. It is like collecting the insurance money once your house burns to the ground. There is NO satisfaction in me being right. It took a little longer than expected but the consequences for a country that can not print its money were baked into the equation a long time ago.
I feel bad for everyone. Especially the fools that paid for homes in Toronto and Vancouver. Those prices are going to collapse. I suspect by 50% or more.
What about the banks?
Well Canada's geniuses said the banks were and will always be in good shape because of the regulations imposed on banks for keeping reserves by the government.
Really?
Good luck with that one.
The CMHC (like Fanny Mae and Freddy Mack) are on the hook big time. They have been allowing loans as low as 5% down payment for as long as I can remember. Like 1990. To say they have a problem is an understatement. I will be finding the best ways to short this financial sector. There is lots of money to be made. Trust me.
Anyone leveraged too high is dead. It is that simple.
There are a lot of them trust me. However once it ends in a year or two there will be buys to be had. There will be a bounce, of epic proportions. I will be there with Cash on hand to snap up the deals. I hope that you will follow me on the blog as I will be posting the best ways to capitalize on foolish behavior.
What have I been saying?
"That this monstrous debt bubble that is propping everything up and causing everything to disconnect in Canada is going to end very, very, badly.
I was so adamant about the whole ordeal that I took the time to write our Honorable Jim Flaherty and Mark Carney (Canada's central banker at the time) about the catastrophic consequences that caving into the debt junkies who screamed during the first collapse of 2008. They should NOT have lowered rates. There was no need to at the time. Let the correction happen. However they did not do this and now you have an even larger and more problematic situation. Except Carney ran away to the UK. So the guy who caused it is gone.
I feel sorry for Justin Trudeau. He is baked like a french fry as a leader. Seems like a nice guy too. That is too bad for him. Canadians are going to barbeque him alive.
Short real estate. Short Stocks on the rises. Short Canadian Oil. Short the Real Estate ETF's. Short commercial paper. Short just about anything you can. It is all over priced and due for a very large correction.
If you are a Canadian now is the time (well actually about a year ago was the time) to sell. Now you might have a hard time finding a sucker.
Will the bank of Canada lower rates more this year?
Does a fish need water to breathe?
Yes they will. They are desperate.
I take no pleasure that this is going to happen. It is like collecting the insurance money once your house burns to the ground. There is NO satisfaction in me being right. It took a little longer than expected but the consequences for a country that can not print its money were baked into the equation a long time ago.
I feel bad for everyone. Especially the fools that paid for homes in Toronto and Vancouver. Those prices are going to collapse. I suspect by 50% or more.
What about the banks?
Well Canada's geniuses said the banks were and will always be in good shape because of the regulations imposed on banks for keeping reserves by the government.
Really?
Good luck with that one.
The CMHC (like Fanny Mae and Freddy Mack) are on the hook big time. They have been allowing loans as low as 5% down payment for as long as I can remember. Like 1990. To say they have a problem is an understatement. I will be finding the best ways to short this financial sector. There is lots of money to be made. Trust me.
Anyone leveraged too high is dead. It is that simple.
There are a lot of them trust me. However once it ends in a year or two there will be buys to be had. There will be a bounce, of epic proportions. I will be there with Cash on hand to snap up the deals. I hope that you will follow me on the blog as I will be posting the best ways to capitalize on foolish behavior.
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