"World of Hurt"
I thought I should share this. I consistently heard from small business owners and workers, in my circle of acquaintances, that this winter was the slowest they had ever experienced. If you have experience these same stresses, know you are not alone.
Adjust your preps accordingly.
I have a Tactical Harness and I have a Tool Belt. The Tool Belt is more Useful.
Seems to me that this report is comparing apples and pears. The US and Canada are not the same - the US is printing $85 BILLION A MONTH and putting it into the stock market, in the form of treasury bills, bonds and what have you. That is the one and only reason why the DOW keeps going to new, record highs each day. If the FED stopped printing, then the US figures would be a great deal less than are currently shown. If the FED ever stops printing, you won't see a 'burst bubble', you'll see a catastrophic explosion, and the end of the United States of America as we have always known it. One way or another, USA Inc is bankrupt. Canada is not. Far from it. Expect a lot of refugees when the US bubble(s) finally blow up in their faces.
When the tiny little island nation of Cyprus needed a bailout a few months ago the ripples were felt around the world. How much bigger will the waves be when the U.S. economy goes belly up. From everything I've read or heard, 70 to 90 percent of Canada's economy is directly tied to the U.S. economy. That begs the question, "When the U.S. economic bubble bursts, how much longer 'til we hear a POP here in Canada?" U.S. refugees or not, I think we'll be in a bad place when our neighbours to the south lose it.
TAZ
Those who are unwilling to defend freedom, will become unfree.
Quite right Taz. With today’s interdependency of economies it only takes one domino to fall.
As pointed out, Canada is a one trick poney. We sell our resources. Thats about it. Sort of stupid if you think about it. No one seemed to think through that we just might need them ourselves.
80% of our exports go to the States. Thats how dependant we are. Add to this that our banking system is more tied to European banks than Amerika. Thats why we weathered 2008 and beyond....And its cold comfort. We have many of the same structural problems as the states, save that we kept our heads down during the cold war. The States seem to think they won the Cold War. They didnt. They just went bankrupt...second.
I have a Tactical Harness and I have a Tool Belt. The Tool Belt is more Useful.
Seems to me that this report is comparing apples and pears. The US and Canada are not the same - the US is printing $85 BILLION A MONTH and putting it into the stock market, in the form of treasury bills, bonds and what have you. That is the one and only reason why the DOW keeps going to new, record highs each day. If the FED stopped printing, then the US figures would be a great deal less than are currently shown. If the FED ever stops printing, you won't see a 'burst bubble', you'll see a catastrophic explosion, and the end of the United States of America as we have always known it. One way or another, USA Inc is bankrupt. Canada is not. Far from it. Expect a lot of refugees when the US bubble(s) finally blow up in their faces.
Not only that their debt keeps growing 16.84trillion dollars and rising. http://www.usdebtclock.org/
Their monetary problems have not gone away they have got worse, it is just that they are not in the news as much.
"if the FED ever stops printing, you won't see a 'burst bubble', you'll see a catastrophic explosion" Agreed.
When the dollar goes under, those that are attached to the system (the dollar and the big banks) will be sucked down with it. We all see the problems of the "economic" system we are in, but if your not on your way to independence from it, I would start clawing your way out. It cannot be saved (and shouldn't be), cash out and look for something tangible.
A lot of folks are not aware of the "Bail in" policy / law that was passed with the last Canadian budget.
If the Canadian banks get in trouble then exactly the same thing will happen here that happened in Cyprus. The people with money in the banks will have it seized, and their own funds will be used to bail out the banks. Given what I have read about Scotia and RBC I suspect they will be the first to have some problem in the event that Europe caves in. No doubt all of them have investments into the USA, which is another weak link.
I find it funny reading some coverage of the 2008 collapse in the Globe and other newspapers. They get all nostalgic about it, like everything is over and its going to be fine now, when its all more lies. In one quote the Canadian Finance Minister says that the problem was too much money out there floating around. Yet that fake money is all that governments have been printing for the past five years.
When you get some pretty major people like Paul Craig, Chris Hedges, and Peter Schiff talking about the collapse being unavoidable it really makes me wonder why the media and more people are not paying attention.
It's going to be an interesting ride.