Fast Moving Incoming Recession . . . .

[errolanderson]

Group . . . Incoming recession appears coming in very fast. U.S. consumer sentiment now plummeting. Retail sales stalling. Credit crisis, a watch. Definite risk of layoffs.

[Templeboy]

Home prices have to come down, a 2,000.00 monthly mortgage payment would make payments on a 425,000 house at 3% and 315,000 at 6.5%. It wont take very long for this to sink in, Canada will follow the Fed up, then back down.

Expect farmland to follow, (likely up again this year, then a year of top kicking) after this commodity spike works though the system. Prices can evaporate in the blink of an eye. Quite a few farmers that have kept a wad dry, will pack up and say I'm cashing out, lived though this once in the 80s not again. There is a swath of farmers that never saw the 80s, its gonna hurt.

[errolanderson]

Massive drop in the U.S. dollar (USD) today after the Fed hikes rates 3/4% yesterday . . . .

A lot is happening behind-the-scenes we do not know about. Likely tied to credit issues.

[parsley]

North America screwed its self by relying too much on China. Now we are all paying for the big cooperations profit margins over the past 10-20 years .

Shipping jobs overseas , helping developing countries , ie India , China , Malaysia .... big part of Obama’s dream .
Now what ...... we destroyed industry in North America. It will take years to get that back .
Rather than look after our own citizens who are jobless , homeless and First Nations get decent jobs they gave all that away and maxed out social assistance meanwhile destroying wealth creating industry to pay for it all .
It’s left a mess our kids and grandkids will pay for .
Sad reality hitting home now

An excellent analysis

[parsley]

Still hard to fathom how anyone with an acre to farm is willing to give it all away to these *** heads

25 cents says he’s headed to WEF.

[sawfly1]

These issues are a direct result of Capitolism banks and globalization, which you were all warned about at the time by the left.
But globalization was not all bad.
Some good things ,
And could have been managed a bit.
But Is wasn't

Bush Senior " let American Capitol be free " " anything less is socialism "

Canada /US needed to be looking at the bigger picture and they were not.
Sure Ship production of every thing over seas.so big money could make bigger money . 100$ sneakers made for 4$.
Lots of profits .
And then you wonder why 1/10 of a % owns 1/2 the planet.
What could go possibly go wrong?

The Regans,Bushes, Clinton, Harper , Mulroney , even some liberals. all empowering global capital,
FTAs etc. And emasculatiing Govt.s

I really find it funny that those that pushed for globalization, are the same
People now that somehow blame leftist elites for the results of the "rights" own free the Capitolists policies of
The last 40 years.
Maybe if your a stockholder a little has trickled down. But the hangover any problems are not the lefts fault , they are of your own making.

Capitolism needs oversight. people leaned that 100 years ago .
Everybody seems to forget that part.

[errolanderson]

The speed of this economic meltdown is now for the history books. Consumer confidence is tumbling. Central bankers totally out-of-step. Rate hikes and talk of more as debt crisis now has a huge grip on asset prices. Housing market fallout in-progress. Bitcoin broke below $19,200 last nite down another 9 percent in 24 hours. Energy markets and bio-diesel in sharp decline this week.

Politicians / central bankers wake-up. Do you not understand that inflation has clearly met it match with massive consumer and gov’t debt. Let’s print money until the cows-come-home to protect Wall Street creating a never seen before massive asset bubbles. Then hike rates to pull the rug on inflation while stressing consumers. Inflation already doesn’t have a smoking chance against the true heavy weight called MONSTER DEBT. This is a debt crisis and it can break inflation like a twig.

Central bankers, your train has left the station . . . .

[Hamloc]

The speed of this economic meltdown is now for the history books. Consumer confidence is tumbling. Central bankers totally out-of-step. Rate hikes and talk of more as debt crisis now has a huge grip on asset prices. Housing market fallout in-progress. Bitcoin broke below $19,200 last nite down another 9 percent in 24 hours. Energy markets and bio-diesel in sharp decline this week.

Politicians / central bankers wake-up. Do you not understand that inflation has clearly met it match with massive consumer and gov’t debt. Let’s print money until the cows-come-home to protect Wall Street creating a never seen before massive asset bubbles. Then hike rates to pull the rug on inflation while stressing consumers. Inflation already doesn’t have a smoking chance against the true heavy weight called MONSTER DEBT. This is a debt crisis and it can break inflation like a twig.

Central bankers, your train has left the station . . . .

Certainly no doubt that all the money printing is contributing to inflation. But government policies that are suppressing O&G production and applying high taxes on fossil fuel consumption to make supposed green energy competitive are also fuelling inflation. Central Banks waited too long to raise rates, now the only way to bring down inflation is a recession! Personally I think governments want us broke, they want us dependent.

[Sodbuster]

Certainly no doubt that all the money printing is contributing to inflation. But government policies that are suppressing O&G production and applying high taxes on fossil fuel consumption to make supposed green energy competitive are also fuelling inflation. Central Banks waited too long to raise rates, now the only way to bring down inflation is a recession! Personally I think governments want us broke, they want us dependent.

My thoughts exactly, plus the fact that the government should never have lowered rates that low in the first place. Government is definitely responsible for this recession.

[TOM4CWB]

My thoughts exactly, plus the fact that the government should never have lowered rates that low in the first place. Government is definitely responsible for this recession.

The interest rate level isn't the reason for inflation. What government and the private economy spend the borrowed currency on... is the issue.

'Quantitative Easing' [currency creation] for non-productive spending on no economic return investments... nets inflation. How could Tesla be valued at $1T... 4x the capital value of all the other automakers combined.

Germany spent half a $T and got 8% more energy supply... while shuttering their nuclear electrical generators. The US, France, and Japan did the same.

Bad economic choices [spending decisions that create assets that have no productive capability] cause inflation.

[Sodbuster]

House and land prices have jumped big time, low interest rates caused this, if we had 6% mortgages there is no way middle class families could afford a 1.2 million dollar house, instead that house would of bin worth $800.000 in a higher interest rate environment. With higher mortgages and rents business have to raise their prices and we get a domino’s effect, combine that with the green platform amd Covid shortages and that puts us to today’s inflation.

[AlbertaFarmer5]

The interest rate level isn't the reason for inflation. What government and the private economy spend the borrowed currency on... is the issue.

'Quantitative Easing' [currency creation] for non-productive spending on no economic return investments... nets inflation. How could Tesla be valued at $1T... 4x the capital value of all the other automakers combined.

Germany spent half a $T and got 8% more energy supply... while shuttering their nuclear electrical generators. The US, France, and Japan did the same.

Bad economic choices [spending decisions that create assets that have no productive capability] cause inflation.

Agreed. The money printing, and a low interest in and of themselves wouldn't necessarily have had to lead to this inflationary outcome.

If all of the cheap borrowed money would have been invested into infrastructure and assets and technology and education and resource development which would increase productivity of the workforce GDP, balance of trade, tax receipts, while simultaneously attracting foreign investment and skilled immigrants and their capital, and increasing the confidence in our currency, then easy money and cheap interest rates and money printing could have been disinflationary if our productivity were increasing as fast or faster than the money supply.
Unfortunately, we used it to bloat real estate values, buy stocks in companies that don't produce anything, bid up imaginary assets such as nfts and cryptocurrencies, throw good money after bad down the black holes formerly known as alternative energies, buy votes from the unproductive, massively bloat government payrolls so they can institute ever more onerous regulations on the remaining few productive sectors, subsidize an education system which is turning out brainwashed woke people with no relevant skills in today's economy. Etc.
Unfortunately, it doesn't appear that governments are remotely capable of picking winners and losers successfully, and without massive corruption and graft and kickbacks. So I am certainly not advocating for another extended period of easy money to be invested in productive assets. But in my utopia, where benevolent governments are not corrupt, and the voters actually put society's long-term prosperity ahead of their short-term selfish interests, it could have worked.

[Guest]

like mr. devine did

[helmsdale]

Crypto is just getting cranked!

Bitcoin below 18K, down some 13% in the last 24hr

[AlbertaFarmer5]

Crypto is just getting cranked!

Bitcoin below 18K, down some 13% in the last 24hr

Percentage wise, how does this crash compared to the previous crashes in bitcoin? The magnitude makes it look spectacular, but from what I recall it had some massive crashes percentage wise back when its price had a lot less digits