Too far left for some ...but...

[perfecho]

Been doing a little google-ing, national debt...can't figure out how Canada built this vast country, went through major wars, a major depression, built highways, city infrastructures and yet didn't have the debt problem we are now. Also, Cotton's pointing out how much of our budget goes to servicing debt...
From previous stuff I have posted on the COMER lawsuit, by Rocco Galati,

http://www.comer.org/

and stuff like:

http://qualicuminstitute.ca/federal-debt/

the feds (Trudeau at the time) made Canada's borrowing go through banks...thus making sure that banks made a killing! No party in power has challenged this since..so basically, our destiny is doomed to fail...regardless of who is in power.
So will the "free enterprise" system do us in????

In the US, the Federal Reserve is owned by banks, and the Fed reserve owns the greatest single share of US debt...
doesn't something seem to stink?

[farmaholic]

Re, US banks Vs Canadian banks.

Aren't alot of the banks in the US privately owned? Can anyone own shares in some of the biggest US banks? In Canada most major banks are at least "public". Anyone can own shares of them but that is little consolation when alot of people can't afford to own shares.

I watched the "Big Short" for the second time. Got even madder. It just goes to show how corrupt they are and how little power the guy at the bottom has. Pawns.

I personally don't think there should be a banking "industry" based on private profits.

[riders2010]

Grain industry is quite similar in many ways. Few buyers here dealing with countries, manipulation can occur at any time, no one watching anything at all.

[perfecho]

Had just watched "The Big Short"...mind boggling. the sad part is it's not fiction. We are so addicted to wall street, profits, the game, etc., that this sort of thing is allowed to happen...and they keep doing it....

[bucket]

Did yoy see what Michael burry invests in now at the end of the movie?

[farmaholic]

....water.

Not alternative energy...lol

[bucket]

Renewable and reusable.

[cottonpicken]

Could prove I seen the us housing bubble in September of 03. Not bad timing. Completely to early on Canadian housing so same as wrong.

In the budget they restated bank bail ins just like flaherties statement a few years back but I don't understand why and I don't know if the wording was exactly the same or different. Some are saying this is just like Cyprus I don't know.

Supposed tier 1 reserves are a little north of 10%

Kind of worried about smaller credit unions in western Canada. Not sure they can absorb what's coming. But bankrupcie and housing laws are different then the us where you could just walk away

The shit loans are at cmhc which was part of the reason Canada housing has totally overshot. To the tune of over 50% compared to the peak in the us. Which really really amazes me

700ish billion at cmhc take a 5%npl that's still 35 billion