Poor Canada

Not to be a smarty pants but for someone who has been keeping tally on our wealth they are doing a poor job.

https://www.readthemaple.com/gap-bet...istics-canada/

When our finance minister said Canadians are were flooded with cash. That was a lie that was stimulated cash that didn't go very far for most. They are watching the boomers savings deplete. That's gotta tell ya something or maybe it doesn't lol.

The poor got poorer lol.

https://nationalpost.com/opinion/fra...or-gulf-widens

1 in 5 single adults live in poverty. 7 million needed help to get food.

https://www.ctvnews.ca/canada/1-in-5...port-1.6443292

How does the average person keep up the housing bubble when housing prices outpaced wage growth by 40%. Since 2015.
https://www.statista.com/statistics/...-ratio-canada/

For someone tracking our wealth they are doing a pretty good job at widening the gap. Its not like it hasn't been known about for long time as we just ignore it.

But that's just my opinion don't mean much I said 3 years ago I'll be ok it's not about me . It's about the majority of Canadians that will suffer and are suffering. My freezers full .








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As our gap continues to separate as prices are only expected to increase for how long ? Maybe the next decade? it's going to take years as it is to better the economy. As we head into the new normal?

How do they expect everyone to keep paying more and more, when more and more are getting poorer and poorer.

The better question is. How much more can the people pay for a transition that's just getting started?

If the only answer is to pay more how much more do Canadians have ?

Deep pockets will that's about it.

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For me personally at age 55 me and my spouse are doing OK as we have been in the same home for 28 years now.

I see a lot of people I know that got overextended with the years of low interest rates. They bought big ticket items and homes because the cost of borrowing was a non-issue. As mortgage renewals are now several digits higher, they are realizing they made some bad choices. Sadly, this will kick a lot of good people down a few rungs... :(

Our last visit with our financial advisor showed in order for us to do the things we want to do when we retire, we will need to sell our home and downsize. If it were totally up to me, I would move from Southern Ontario to northern Alberta the day I hang up my office clothes... lol

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Originally Posted by bellerivercrossbowhunter

For me personally at age 55 me and my spouse are doing OK as we have been in the same home for 28 years now.

I see a lot of people I know that got overextended with the years of low interest rates. They bought big ticket items and homes because the cost of borrowing was a non-issue. As mortgage renewals are now several digits higher, they are realizing they made some bad choices. Sadly, this will kick a lot of good people down a few rungs... :(

Our last visit with our financial advisor showed in order for us to do the things we want to do when we retire, we will need to sell our home and downsize. If it were totally up to me, I would move from Southern Ontario to northern Alberta the day I hang up my office clothes... lol

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I think alot of people will be lucky if they can restructure the position they are in. Most wont be able to.. depending on the purchase time alot of people who purchased recently may find themselves in a tricky situation soon.

I talked about this before during stimulus time that alot of people were overstretched already in 2019. An economy biult off debt is never a good thing. It's going to also play an effect on the usa dollars vs the brics dollar war

The bubble was bursting back then the problem was going on well before 2019. Then it was stimulus time and Canadians were flush with cash. All we did was kick the can down the road further. Insolvencies and bankruptcies are at a 36 year high.
https://financialpost.com/news/bankr...ecially-canada

I also mentioned that an economy biult off a single asset could spell trouble. If the housing market biult the wealth it can also destroy it if it gets out of control. Pop the bubble of wealth an we will see how it turns out. It's not the younger generations fault they can't buy a house with 7 strawberries anymore. The same money that's made today can't purchase a new house or a car most forget about that. Face it the boomers wealth was made from housing market. That's not substanable.

Anyway hope your retirement goes well I'm a long ways off that lol. 15 maybe 20 years who knows will have to see how it goes. Probably hunker down in the bush at that point lol.



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The biggest bank in Canada describes Vancouver housing as a full blown crisis..

https://vancouver.citynews.ca/2024/0...is-rbc-report/

Published last year by the rcmp but kept secret lol.
Published in 2023, the declassified report quotes French President Emmanuel Macron on "the end of abundance" and notes that future economic forecasts are "bleak."

"The coming period of recession will also accelerate the decline in living standards that the younger generations have already witnessed compared to earlier generations," the nine-page report predicts in a section titled "Popular Resentment."

It goes on to state that "many Canadians under 35 are unlikely ever to be able to buy a place to live."


https://www.ctvnews.ca/canada/secret...nada-1.6821642

So what will be done about it ?

These guys think it's actually helping our economy.
https://www.international.gc.ca/worl....aspx?lang=eng
They are building a Canada for Canadians for what Canadians want lol.

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Canadians who are willfully blinded by leftist ideology are playing right into the hands of the global "elites". Sadam Hussein used to call them "useful idiots".

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Originally Posted by trimmer21

Canadians who are willfully blinded by leftist ideology are playing right into the hands of the global "elites". Sadam Hussein used to call them "useful idiots".

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In the end we see who's falling and who is rising. It's only a conspiracy that the brics nations are growing and the collective western world is falling to pieces. The fact that brics nations have been growing and will continue to grow their economy must be a myth.. While we are siting in a crisis after a crisis with debt passed our eyeballs as all of the g7 economy's has fallen. .our standard of living has fallen for many years the wealth gap has ecelerated years ago.

As they deliberately ignored the problems.

These are not new problems we are facing, some have been sounding the alarm for years. But they are ignored turned into a conspiracy as our economy's are booming the best they ever have been lol.

I see why they predict another super power by 2030 the super powers are falling apart fast have been for awhile but ignored.

Guess there might be an issue with who server us the news when they are all owned by the people who tell us things are good while the people get poorer and poorer lol.

Is there even a mainstream who isn't owned by the global elite here in Canada?. For some reason they are all owned by the people who say you will..... well you know what I was going to say lol. Let's say the people with a mission lol. Some only listen to those guys mission news channels hahah. The same guys who like to blame others but had a decade to change it lol. Like it's trumps fault because Biden opened the boarder 3 years ago lol.

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Canada is so broke they just told the kids to wear a sweater to school as they turn down the heat to save money.

"Put on a sweater and get ready to share some paper clips:"

https://www.cbc.ca/news/canada/winds...icit-1.7162875




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Originally Posted by fishfood

"Put on a sweater and get ready to share some paper clips:"

https://www.cbc.ca/news/canada/winds...icit-1.7162875

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some great advice there. Canada was built on the backs of every wave of immigrants who sacrificed and work hard to make it. Now settled the next gen are happy to cry poor me and expect everything the be handed to them. If you want to get ahead than work as hard or harder than your grandparents and stop crying poor me.

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Originally Posted by finsfurfeathers

some great advice there. Canada was built on the backs of every wave of immigrants who sacrificed and work hard to make it. Now settled the next gen are happy to cry poor me and expect everything the be handed to them. If you want to get ahead than work as hard or harder than your grandparents and stop crying poor me.

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People are working twice as hard working more hours to keep up. We can't blame the few lazy people when our productivity has fallen for many many years. Infact the standard of live in Canada is the same as it was in 2015. Our country's purchasing power has been in decline for what 2 decades?

When they blatantly ignore it doesn't make things better. Budgets don't balance themselves in a falling economy when businesses are leaving.

https://www.fraserinstitute.org/blog...-growth-crisis

Then these charts show since 2000 the brics passing the g7 in 2020 as the trends continue what's going to happen with this chart ? Now it's brics + that was 5 members that past us ,with members growing this year too. Do you know there plan? Have you been keeping up with their economic developments? What about their new grain deal? Who's kicking the western world out of parts of Africa to better their economic growth?

https://www.statista.com/statistics/...-gdp-g7-brics/

When we ignore things they become reality

2016 prediction isn't far off because is it now because we are letting it happen.





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