www.bankofcanada.ca/2024/01/operational-details-government-purchases-canada-mortgage-bonds/
Starting 2024, Trudeau is printing $30 billions a year to buy Canada Mortgage Bonds to bail out homebuyers and banks. 30 billions you can build million small affordable homes.
Well, he can promise to bail you out, and fail to deliver. He has a good track record on unfulfilled promises.
make him walk the plank
Best they can do is more taxes and taking your money and sending it overseas or just funnel it into complete scams internally so their rich friends can stay rich.
Hahahahaha
Stop voting for him then
I stopped, he still won't leave
No, cause you’re Canadian. Can’t you see your privilege? He only helps those unfortunate rich foreigners oppressed by the fact that they were born outside of Canada. Think how terrible that is. They deserve the privilege too, of coming here, and accessing Canada’s healthcare and homes.
Well it depends, do you vote for him?
It’s amazing that all you genius’ don’t understand the government and the Central are independent. It’s the hallmark of developed economies.
So many comments so little knowledge.
So this is the 2008 financial crisis all over again and Canadian tax payers are bailing out Canadian banks?
Privatize the profits, socialize the losses.
Big YES YES YES YES. Buying votes for Liberals Party at all costs. This should be in the main stream media HEADLINE news. They all HIDE it!
The money belong to all Canadians, including MILLIONS of renting families.
I mean Liberals Party is doing it in EXTREME to buy votes for themselves, this country has no future. ZERO.
Quote:
"For the 2024 calendar year, the Government of Canada will target a total purchase amount of 50% of fixed-rate CMB primary issuances. "
Bank of Canada keeps rate high to crush the Government, and Government keeps printing money to crush future young generations. Young people and Future unborns are really pushed to the bottom of food chains because everywhere is boomer-land, their free land. You name it the powerful people who make rules beneficial themselves.
If the job is to read scripts, no answers, raising taxes and printing money, then any one can do the job, young people can do even much better and They're much better educated, no need a Master degree in History of Putin's country or a background of part tine teacher for nothing
Trudeau's $4 billion Housing Accelerator Fund (HAF) was marketing so broadly and national wide as his CORE housing plan he is boasting everyday, it is pathetic when compare with this $30 BILLIONS a year Mortgage Bail Out Plan (MBOP), which is to make housing more expensive.
In what way is this buying votes? Good news if you own a bank, but otherwise nadda
Good news if you own a bank
You forgot about the millions of over leveraged home "owners" and with JT's track record the bailout will likely include foreign owned properties mortgaged through Canadian banks.
I don't see how this directly benefits them at all. The banks don't fail, but this kind of intervention prevents the need to lower interest rates. If anything it makes worse for homeowners.
From the cmhc website:
What are Canada Mortgage Bonds?
Canada Mortgage Bonds help stabilize access to mortgage funding in all economic conditions. The Canada Mortgage Bonds Program lets approved financial institutions pool eligible insured mortgages into marketable securities. Investors buy these securities, generating funds for residential mortgage financing.
So yes, this does look like 2008 except our government is the one buying the securities instead of various pension plans.
not only banks, overleveraged home owners too
I don't consider people underwater on 4 or more rentals "home owners," and I relish their suffering.
Yes. Basically the same thing as Harper did to save Canadian institutions save economy in the 2008/2009 financial crisis.
$30 billion divided by 30 million people is 1000, so every tax payer is now in 1000 of debt now per year. Who knows for how many years they'll print $30B. Hey, let's keep diluting the money supply, bring more people in, no salary raises. Might, just might lead to event poverty/ultra rich, inflation or both.
Cute of you to assume 30m people pay 1k in taxes
The percentage of Canadians who "actually" pay taxes is staggeringly lower than what most people believe. You get it.
Is it because of people working for cash?
It's because not everyone works at all. Too young, too old, or just in a situation where they don't need to work. Maybe a homemaker. Maybe ill. Maybe disabled.
30 million canadians. But the workforce isn't 30 million.
No, people who earn below a threshold of income pay very income little tax on begin with. Next, they qualify for all the low income benefits (groceries, dental, GST, carbon tax rebate etc). If you have children and are low income then the child tax benefits are quite substantial. All of these benefits are greater than the small amount of taxes that low income pays.
Sounds like we should be taxing corprorations more instead of expecting citizens to cover the bill.
Don't forget increased servicing costs in perpetuity.
Just 1k? Not much. I will put it on visa please
There is an inverse relationship between bond prices and interest rates. Banks lost a fortune when interest rates rose.
Who sold the bonds? Banks. Who raised the rates? Their parent and protector, the central bank.
Why should the taxpayer be on the hook for this circle-jerk?
More inflation, more money printing.
What's next they'll distract us with a war.............. Or get us in one
Those F-35's are not just pretty, Canada needs to be prepared.
And piss off the Muslim vote. He'd rather solve this by immigrating more Liberal voters.
When war comes... and war will come when we are weak, you will be distracted by much more than just inflation and money printing.
I`m not sure how people think it`s ok to not have enough money invested in our own defense with today`s global situations (Russia, Taiwan, etc...). We cant rely on USA for everything. They have a duty to protect themselves first, then their allies.
From a military standpoint, I don`t think we are too much better equipped than Ukraine right now. Even if we have fancier toys, its in limited number. And unless we invest more into this aspect, we are truly screwed.
True.
I kind of think that it's a systematic piece by piece destruction of our country on purpose by China. They flood our country with fentanyl and the government doesn't do s*** about it. They have police stations threatening their own citizens that try to live here. They have a Trudeau government whose father was buddy buddy with China.
Next step is totally degrade our military so one day they could just literally walk in.
That's what I would do.
Allluhakbar - it shall come
No thanks, he can go himself.
He can have my gun. Oh wait he is taking that too;) Jk i know nothing of the gun situation and never shot one But I hope someone will chuckle
This is getting far less attention than the meager $4 billion Housing Accelerator Fund they keep signalling about.
4 billions is for peanuts
Oh great, we are printing money again, while inflation is above target and rose last month.
What a joke this country is.
JT looks normal but he is actually mentally challenged.
He looks pretty mentally challenged ngl
Full R card
I disagree, he doesn't look nor act normal.
So are we to elect him
So incredibly unfair. So much to criticize here.
1. Potential Inflation Risks: Government purchasing of CMBs injects significant liquidity into the market, which could contribute to inflationary pressures. For non-homeowners, especially those with fixed or lower incomes, rising inflation can diminish purchasing power and exacerbate living costs.
2. Widening Wealth Gap: By potentially lowering mortgage rates and stimulating the housing market, this policy might primarily benefit homeowners and real estate investors. This could widen the wealth gap between homeowners and non-homeowners, as property values increase but leave those not invested in real estate behind.
3. Housing Market Overheating: Stimulating the housing market through CMB purchases could lead to an overheated market. This might result in housing prices rising faster than incomes, making it even more difficult for non-homeowners to enter the market.
4. Misallocation of Resources: Critics might argue that government funds used for purchasing CMBs could be better spent on more direct forms of housing assistance, like building affordable housing or providing rent subsidies to those in need.
5. Moral Hazard: By supporting the mortgage bond market, the government might be perceived as bailing out or overly supporting financial institutions and investors. This could create a moral hazard, where these entities take on greater risks, believing the government will intervene in case of trouble.
6. Market Distortion: Government intervention in the bond market could lead to distortions. It might artificially lower the cost of borrowing for housing, which doesn’t necessarily reflect the true market conditions, potentially leading to inefficient allocation of resources.
7. Reduced Focus on Non-Housing Issues: Non-homeowners might feel that the government is excessively focusing on the housing market at the expense of other pressing issues, such as healthcare, education, or climate change.
8. Political Unpopularity among Renters: From a political standpoint, this move could be unpopular among renters and those struggling to enter the housing market. They might view it as a policy that favors homeowners and investors, creating a sense of unfair advantage.
9. Dependency on Government Intervention: Continuous government intervention in the housing market could create dependency, reducing the market’s ability to self-regulate and adapt to changing economic conditions.
Say hello to a myriad of adverse effects on inflation, exacerbated wealth inequality, and misallocated resources - especially impacting non-homeowners and renters.
What a complete and total scam of a system. This whole government is illegitimate and represents nothing except power, corruption, and unfairness.
decentralize governance
Fuck you what about renters? Ffs always the rich that get help and handouts. As if my landlord will lower rent when his mortgage is renewed at a lower rate
Stop buying Taylor swift tickets, fidget spinners and eating out.
What if we're eating out Taylor Swift, on a fidget spinner?
In a rented apartment? Hell yes !
You dont eat your girl out?
Buy a property.
Homeowners should not get welfare.
If they have a mortgage they ain't really a homeowner are they
They can sell the house if they can’t afford it, why on earth should I be paying for their bad decisions?
I mean we as taxpayers pay a hefty sum towards subsidizing everyone's crotch goblins so are we going to cut them off and start demanding people sell their kids?
Obviously that's ridiculous, so is forcing Canadians to sell their homes.
I am strongly opposed to another bank bail out that fails Canadians, I am also vehemently opposed to any sort of bail out that includes corporate and/or foreign owned homes.
True story! The amount of money we pay in taxes every year is staggering! Least they can do IMO.
Thanks! How should I go about this when my rent is 1700$ a month and I can't save? Asking for 15 million friends
Have you tried only fans?
"just be rich"
Liberals are the scum of the earth. They destroyed this country with their insane policies.
They must not get a vote again. For the next 100 years.
next 100 years all live in small jar or box
Not if we al claim maid
Yo I agree they fucked up but this seems a bit hysterical
They fucked the country, our lives, our future, they brought in millions of 3rd world immigrants...
...but i am hysterical. Ok!
We’re gonna be ok my guy. Canada is still one of the most prosperous and functioning countries on earth. Take a breath and a break from politics if you need.
Seeing a drastic decline in QoL for Canadians over 30+ years is something you should be alarmed about, and angry over.
Our government is stealing from YOU!
Exactly
I am frustrated in an appropriate and proportional amount. Unlike the hysterics in here who behave like Canada is a newly failed state. Or that we can’t recover from a brief period of 4x increases in immigration.
We will be ok. It’s fine to complain and demand something be done. It’s not ok to cry wolf exaggerate and act like the sky is falling.
Well, it's quickly heading in that direction. Society should be getting better, not worse. Homelessness shouldn't be increasing.
And again, this is happening over time. Little by little, they take from you until there's nothing left. You just learn to live with worse conditions and you're manipulated into thinking its ok.
Sure we can take it millions of immigrants each year. Yea we'll catch up eventually, in like 40 years lol, if they stop immigration dead and allow housing and infrastructure to catch up in the 35 years.
seems a bit hysterical
Well if the shoe fits, right?
User deleted comment
5mo
You must be confusing Canada with the US. Canada did not need to bail out our banks in 2008 because of tighter lending restrictions (regulations), which meant less exposure to the sub-prime mortgages. In fact, our banks went on a spending spree purchasing US banks. That is why you can see most of our major banks in the US now.
User deleted comment
5mo
Your source is funded primarily through individual donations, research grants and trade unions. In it's 4 paragraphs it states that their own economist "estimates" that the Government of Canada bailed out our banks to the tune of $114B. It presents zero evidence. In other words the government was able to secretly give away $114B (10 percent of Canada's national debt). You've gone down the perverbial rabbit hole.
This is the most senseless thing a government can do. Why won't they allow natural resource extraction to add value to the economy? With the immigration boom we had, if we were doing more resource extraction, Canada would have hit the stratosphere in economic prosperity. Instead, we are having uncontrolled immigration to a society that has no capacity to absorb this many newcomers in an economy that is going down the drain.
It’s because we’re lame ass pussies and we don’t value antihigiénico
It's time for Canadians to get angry and ugly.
Canada is producing a record in oil and more than China right now
China's main output is not oil, so that comparison is not relevant. We should be producing more than Iraq or Russia. Can't beat Saudi or Kuwait maybe, but we should be #3 at least. Then, invest the proceeds in the economy and in clean tech and environment (carbon capture, reforestation, etc). This will generate more employment. This will also reduce oil prices and inflation.
This is a fantastic idea you have. Even if it’s short term. Use that money to do things like figure out how to solve the issues with the ev batteries in the winter, getting more charging stations. This also helps us to create an economy that actually does something other than speculate on the housing market
Lots of new mines are being built, is that the kind of resource extraction you mean?
And fossil fuels. Are new mines really being built?
Canada is literally producing more oil than it ever has before
Because that would make too much sense
And continuing the ridiculous level of inflation. The free money tree has been fruiting nicely these last few years.
Few years? Try 15
This is terrible, but also, the funniest shit I've seen. Cons did this in 2008 (kicked off the bubble), and all the supporters told me it was great because harper is sooooo smart. Now the libs are doing this, and it's the worst thing ever. Fuck yeah polarized canada.
Let's do a liberal FIPA deal with Indian investors, giving them legal protection over residential housing/commercial investments so they can build some secret Indian police stations. Instead of a correction.
They keep kicking the can down the road; but now the road is looking kinda short 😬
its funny when we had harper the CAD:USD were on a 1:1 level . As soon, as the libs got a majority the CAD depreciated significantly to the USD which is the most clear indication that the conservatives always get elected to clean their shit up. But then, people get way too complacent and comfortable and start saying how we have a greedy and cheap government that doesn't spend on social welfare and then the liberals get elected again only to repeat the cycle
I really do miss Harper… Now, you don’t want parity with USD long term, however, those were good times!
Cross border shopping was nuts back then!
Isn't the parity concern mainly when we were exporting a lot of more oil to the states? now they have significantly more domestic production of their own and the pipelines are barely producing as much anyway (I could be completely wrong, just my uneducated guess)
Then let's elect Harper Jr. PP
its funny when we had harper the CAD:USD were on a 1:1 level . As soon, as the libs got a majority the CAD depreciated significantly to the USD
That happened ca. 2014, and was consequence of global oil prices going down
So when oil bounced back up Canada profited under Trudeau… right?
So when oil bounced back up Canada profited under Trudeau… right?
CAD went up during this, but not to USD par. Oil has not gone back to 2013 highs.
the US oil shale boom has also made canadian oil some what less desirable.
Looks like we got up to around $0.80 in March 2022, even those the price of WCS was similar to the 2013 highs and greater than $100usd/barrel.
We’ve done a terrible job of capitalizing on our oil markets, probably because the stated goal of this government has been to transition away from oil.
Lmao, what a fucking joke.
Let it crash, or negotiate better trade deals.
It has to get worse before it gets better, no escaping basic economic principles. Otherwise the effects in the future will be even more disastrous.
User deleted comment
5mo
It is already consuming the nation. Most working population and youngsters want to leave Canada.
User deleted comment
5mo
The solution is either lying flat like people in China or leave Canada.
User deleted comment
5mo
Not only paying for someone else, but also pushing the prices higher
What a stupid, inaccurate, headline.
https://www.bankofcanada.ca/2020/08/our-covid-19-response-large-scale-asset-purchases/
🤦🏻♂️
Maybe I should kill myself
Trudeau govt calls that the ‘Fentanyl Solution’. And while they can’t overtly recommend it, privately the government cheers its success as (failed) policy.
I don’t think you should though. I think we should organize and fight back together.
Funny… JT was only worth about 6 million before he started as the PM. Seems like EVERYONE I know has had their investments take a nose dive since he’s been in office…but in a few short years he’s now worth 97 million plus and we’re all broke, but people still vote for him?
https://www.caclubindia.com/wealth/justin-trudeau-net-worth/
He just keeps screwing the future generations
Good to know the tiny amount of money I've saved is now worth even less.
We’ll be Venezuela in no time! Our money will be worth nothing
Means my mortgage debt will be worth nothing! Weee
He is doing this by design. The dollar has have no value in order to be bailed out by the WEF and implement digital currency. That’s the start of the end.
Not just shit on the floor but smear it on the walls too. Good fucking job.
Where is personal responsibility now?
You'll probably have to be vaccinated to benefit from it.
Poster clearly didn't read the article, nor most of the people replying. Title is extremely misleading...
Don’t let facts get in the way of a tirade, man!
Can you help explain?
Canadian mortgage bonds are sold to private investors/individuals. The government uses the proceeds to buy mortgages. Banks issue mortgages to homebuyers and sell some of the mortgages to the government.
What does this accomplish?
Banks now have cash on hand to issue more mortgages. If they couldn’t sell the original mortgages, they would be less willing to issue new mortgages which would drive up mortgage interest rates for home buyers. In effect, this lets banks give out more mortgages at a lower interest rate.
Does this drive up inflation? Debatable. Was any new money actually created? The government didn’t print any new money, they acquired money from the people who bought the bonds. However, they did facilitate homebuyers to purchase more homes that otherwise might not have been purchased. Usually that is a good thing but maybe not when prices are very high.
I don’t think this is really news to be honest. The CMB program is already $250 billion in size. The government will issue up to $30 billion in new bonds this year, but roughly the same amount will reach their maturity. So I don’t think the overall value of bonds will change that much.
You’re getting downvoted for presenting the facts and showing that the article is a big nothing sandwich. Thanks for posting. Our social media has always had confirmation bias but I’m alarmed at how much the “professional” media is pandering to this confirmation bias to get clicks and views.
People on this sub love to jump on the bash the government train without first thinking about what it really means.
So wait, my dog has been gay this whole time?
Does this drive up inflation? Debatable.
In a housing specific sense, it is not debatable. This move will artificially boost home prices relative to where the market would have taken them organically (in an already highly manipulated "market").
How much mortgages you are holding?
i own a house and have a CMHC mortgage. do i benefit from this?
No. This is to ensure banks can maintain liquidity so we don't experience a credit crunch, resulting in a financial depression.
Also, the CMHC has a mandate to be the banks' underwriter for default mortgages. Mortgage holders pay this if they pay mortgage insurance to the CMHC because they didn't have the 20% down-payment required.
As an individual, yes, heads the banks win, tails the bank wins.
Without such programs much fewer FTHB would be able to enter the real estate game, and even less people would be able to obtain a mortgage. This wouldn't impact house prices, because it's a speculation party amongst Boomer/Xer/REIT/Hedgies.
So my gay dog gets nothing ?
Yep it’s manipulation
This policy will keep inflation high. Printing money is not going to help anyone.
Liberal playbook in affect, he’s down in the polls, time to buy some votes, get ready for some massive spending, we’re fucked!
Any bailout is going to come with heavy obligations
Expect contracts to take in and house migrants in provate homea in return for a below-market rate "rent" marketed as mortgage payment relief.
Our deficit has been $40B a year recently - I wonder what it will be up to when JT gets the boot? It's going to take three prime minsters to fix his mess. Hopefully they are like Chretien and willing to make difficult choices and not just virtue signaling and drama for the cameras.
Is this freeland's decision??
YES. The linked statement mentioned that this is the decision of Department of Finance.
Fuck
User deleted comment
5mo
-CMHC insures subprime mortgages even if they are originated by banks.
-Heads: Banks win.
-Tails: BoC buys subprime mortgages off of CMHC by printing money. Canadians pay for it through inflation.
We knew this would happen even before the pandemic. I remember this being brought up by people as early as 2018. People were being told to put less than 20% down-payment by banks so that the CMHC would be on the hook instead of the banks if the mortgages went sideways.
Now they are going sideways, and the working-class Canadians are expected to foot the bill through inflation. This will only speed up as more people have to renew their mortgages after the 5 year period. 2021+5 = 2026. In 2-3 years, there will be some real fireworks, and two-digit inflation.
User deleted comment
5mo
More or less. Defaults are hard in Canada, but they will definitely "underperform". BoC is buying the underperforming assets at full price so that the CMHC does not go under for underwriting subprime mortgages.
This math makes me want to kill myself with bash in my bockets
Mr stew my initials are dj and I love beef stew I feel you are struggling to understand, are you me by any chance? Cause I am lost
By bailing banks
I don't think you understand what a CMB is or what is being done here.
https://www.bnnbloomberg.ca/canada-shelves-proposal-to-eliminate-mortgage-bond-program-1.2001819
This should explain it.
It's actually the opposite of what you think it is. They're buying them back, because they are trying to scale down the size of their involvement in mortgage bonds. They wanted to end it completely, but they realized this was unfeasible.
The Bloomberg article explains it quite clearly. You on the other hand seem to be playing the part of Chicken Little, convinced the sky is falling, and haven't explained anything.
The sky isn't falling. You've just completely misunderstood a rather mundane situation.
Can you please reconcile them wanting to end it with their announcement last year to increase the program.
The original announcement from last year proposed consolidating the cmb program into their general borrowing, not eliminating it.
There’s no “housing bubble” here.
Can someone please eli5. Where does this money the raise through selling bonds go? Will they give it to the banks? Will they loan it to over leveraged home buyers?
I really hope this is a joke.
Friends, I’m a bit more dense then Trudeau is with finances Can you dumb This down and the meaning of it please
I thought this sub was against government housing
Anyone hear of the Cantillion Effect?
This will also devalue the dollar.
This kind of shit is end game economics.
Do the Government really don’t know what to do on every problem Canada has, like Housing crisis, Healthcare, Immigration, Inflation, etc..etc.. ? Or they willingly doing it. ?
Where can you build homes for $30,000? Bangladesh?
“30 billion you can build million small affordable homes “
Math is hard…
Ahhh do you think he cares?
The operation is to be done in the primary market so not bailing people out but lowering the rate essentially for new mortgages.
He's bailing out people who already somehow afforded to get a house or maybe even multiple houses. Cool.
Muahahaha!!! Thats why you have to hold assets. Every gubbermint has only one move and thats to print money!!! The rest of you guys are like crabs in barrel fighting each other over whose in charge of the barrel!!
And everyone will be paying for this through higher inflation and lower standard of living for all of us.
such a BS misleading sensationalized title.....lets look at some facts:
According to data on the CHMC website, the Crown corporation has hit or come close to the $40 billion cap in mortgage bond sales in every year since 2007. Bonds worth $256 billion were circulating as of August 31 of this year.
that snipped from the Seeb
Liberal brains work differently. They are not solution oriented.
30 Billy will build new 85,700 homes for new families rather than pandering to the whales whom many have fraudulently acquired 3 or more mortgages because they understand the weakness of liberal administration and exploit it to the max.
This is why I always say they'll never be a housing crash, negative amortization, high immigration, reits buying up everything, government hand outs... they won't let it get back to normal it will forever be proped up
It's cute to think that any of the other political parties would fuck up less
So they are trying to stimulate housing again.
I said this before and I will say it again, the goverment doesn't want to fix the housing crisis its propping up the economy putting a band aid to get people to shut up for a moment is all they're goin do.
They know full well how much money is made by not having enough houses.
The Crash of 08 Redux.
Our money will become worthless
Those yahoos who overleveraged should not be bailed out. Risk takers should not be rewarded by such a safety net - they should fail.
no it wouldnt, there is no money made in building small houses, no contractor would take it on
should they not let market take over and let some fail, and force them out so that others can afford these now vacant houses?
Just going to keep printing money until it is worth nothing huh? Welcome to Canazuela.
Wait. If you can’t afford a mortgage, Trudeau is taking your tax money to give to someone else, who also can’t afford a mortgage.
At this point we can’t even get bailed off a pontoon boat.
More like 60K affordable homes, probably less when you consider admin costs.
We’re the new Argentina
Canada is a scam and the government keeps giving people who borrowed more than they should "jail free cards". It is just a joke.
On average if you can build a home for 500K, you can build 60K homes.
500K * 60K = 30,000,000,000 (30B). Let's assume that money can build 100K homes per year. This is a lot of homes per year but it's not even close to a million like the title suggests. (Don't even get me started on the NIMBYism, red taping that exists in Canada that'd roadblock this homebuilding)
While I certainly disagree bailing out homeowners and Banks, homeowners make up 65% to 70% of Canada's population. 🤦🏼♂️
He's bailing out Canada (Big banks and majority of Canadians). It can be frustrating for people like you and me that are sitting on the sidelines waiting for the affordable homes, homeowners do not want affordable homes. 😭
The reality is: Nobody, that owns multiple properties, wants affordable housing/homes. (That includes a lot of MPs and MPPs on all political parties)
Isn't this designed to make it easier for banks to lend money to help people become home owners? To stimulate new builds? To help alleviate the housing crisis?
It's very disheartening to learn because I didn't want to buy a property that am barely able to afford and wanted to be responsible, now I get fucked because of others greed and recklessness.
Waiting for the market to crash well the government is doing everything in its power to delay not stop but only delay and compound the recession.
Or deals like the F-35 jets at estimated over the life a 70 Billion contract; Jan 11, 2023 — Canada has signed off on the final contract to buy F-35 jet fighters to replace the air force's aging CF-18s. Air shows will be enhanced. https://www.cbc.ca/news/politics/canada-f35-fighter-jet-deal-1.6707769
Great taking on more debt the country can’t handle. Better import more foreigners.
I hate Trudeau but to be honest they don’t control the bank of canada and monetary policy. It’s also not like the bank of canada can just print $30B and build affordable homes.
I think it’s pretty much the Bank of Canada preparing for what’s to come and that’s something similar to 2008.
In all honesty I don’t even think Trudeau knows how bond markets even work.
Wtf :/
Not sure how much the banks get to eat this one… don’t the banks like predictability in the markets? I’m pretty sure the Libs have been everything but…. Except you know they’ll make the wrong choice and give away even more money if an opportunity presents itself.
Maybe it’s not a popularity opinion, but with a loan for just about anything more then 1k, I don’t know anyone paying off cars and houses with cash.
I’ll take banks over the Mad Max lifestyle, although it could be fun for awhile 🤔
Simple playbook, keep the masses fighting and pick their pockets clean. Even when we have an election and the Libs lose, they pair up with the NDP and push all the same agendas forward. Soooo even when you get a vote, you don’t really
Crazy how I can't print money and spend it because it's not real money, but Castreau can.
can Trudeau bail me out of my parents basement?