The great debt crash

[sumdumguy]

Buckle up. The Currency Reset Will Wipe Out Creditors and Usher in CBDCs.

https://youtube.com/shorts/v2b0MckXBVY?feature=share

Remove my like. What the h is CBDC? Better stuff my mattress with bills.

[biglentil]

Remove my like. What the h is CBDC? Better stuff my mattress with bills.

Central bank digital currency. Cash cancelled and void if not redeemed for CBDC. Not a single transaction will be able to be completed without it being registered and approved on a central digital ledger. Starlink will very likely play a role monitoring everyone and everything. The users wallet will be linked to the digital identification program the Canadian government has partnered with the WEF to implement. Perhaps stored on a persons smart phone at first and later by implantable biometric chip already in use in some Scandanavian countries.

Taxes right off the top, universal basic income with potential expiry dates on credits directly in your digital wallet in real time.

Used your tank of fuel for the month. Cut off.
Outside your geographic zone. Cut off.
Had your 3lbs of meat for the year. Cut off.
Criticized your overlords in a tweet. Cut off.
Want to sell some grain? Submit to stakeholder capatalism and give up property rights or you guessed it. Cut off.
Fail to get your umpteenth gene altering transhumanism shot. Cut off


Snitched on your neighbour for hiding a couple laying hens. Extra credits.

The central bank of Canada has been testing them for many years and was past the trial phase years ago. The infrastructure is ready, banks and big business have been busy installing the systems in the background.

[errolanderson]

Consumer credit meltdown in-progress. Latest fallout, vehicle prices, used, now new.

Overall commodity prices remain deflationary . . . latest fallout, coffee. Coffee futures now down 40% from 2022 highs.

Rate hikes definitely killing consumer demand and the economy . . . as planned by central bankers.

[fjlip]

"Snitched on your neighbour for hiding a couple laying hens. Extra credits."

Some leftist/socialist/communists on here are licking lips....going to be RICH RICH!

[errolanderson]

Financial fallout in SE Asia right now including South Korea, Taiwan and Japan. BOJ is attempting to throw everything at the Yen to save it from collapse, but with limited success. Bank of Japan now running out of bonds, basically throwing good money after bad.

USD has been under considerable selling pressure recently. This has supported crude oil and grains, even the loonie. But turmoil in SE Asia could trigger another race back toward the dollar, possibly pressuring commodity markets once again.

Financial carnage of this, unknown . . . . But this is a current economic fire that could spread globally quickly. Right now, USD continues to slide.

[errolanderson]

The root of consumer cash squeeze is the sharp rise in debt servicing costs, not true inflation (in my view).

Central bankers have deliberately brought on this cash crunch with steady hikes. This situation totally bizarre. Inflation never had a long term shelf-life in the 1st place. Debt crisis would have solved it on its own, not bankers. My opinion.

Now just a bigger mess, courtesy of our local central bank. Rate cuts ahead, possibly sooner than later.

[bucket]

Watching TV and they were asking a guy about what he thought of the rate hikes.

Guys says he was thinking of buying a new vehicle but the interest rates and the prices prevent him from doing it.

If too many people think that way , the auto sector will be back on life support ( if it ever left).

But why would any country want to push its economy into a recession???????

Vehicles are disposable and in need of replacement inside of 10 years , why slow that segment down?

Why kneecap the economy on purpose?????

[errolanderson]

Watching TV and they were asking a guy about what he thought of the rate hikes.

Guys says he was thinking of buying a new vehicle but the interest rates and the prices prevent him from doing it.

If too many people think that way , the auto sector will be back on life support ( if it ever left).

But why would any country want to push its economy into a recession???????

Vehicles are disposable and in need of replacement inside of 10 years , why slow that segment down?

Why kneecap the economy on purpose?????

Auto industry in big trouble. We may hear about a major going under soon and wanting a bailout. Used cars prices diving.

Lots of action ahead for the slow-to-respond media to react to. They are still talking about inflation.

[errolanderson]

Asset values beginning-to-plunge as 'great debt crisis' taking hold . . . .

Vehicle prices have turned upside down over the past two months. Dealer discounts exploding. Hotel rates getting crushed. Corporate and personal bankruptcies surge in January. Home Depot, Walmart earnings slide. Energy prices tumbling. Grain fallout. This ain't inflation folks as advertised nightly by our biased media . . . .

Quite frankly, government inflation data and central bank policy is totally out-of-touch and out-to-lunch with incoming economic reality . . . . ProMarket Wire, Calgary

[BreadWinner]

You must be living in a different world than me,
Everything is still short and very expensive here. One down day because Russia didn’t send a nuke over to Ukraine on the invasion anniversary. Go home and rewrite your story for monday.

[biglentil]

Asset values beginning-to-plunge as 'great debt crisis' taking hold . . . .

Vehicle prices have turned upside down over the past two months. Dealer discounts exploding. Hotel rates getting crushed. Corporate and personal bankruptcies surge in January. Home Depot, Walmart earnings slide. Energy prices tumbling. Grain fallout. This ain't inflation folks as advertised nightly by our biased media . . . .

Quite frankly, government inflation data and central bank policy is totally out-of-touch and out-to-lunch with incoming economic reality . . . . ProMarket Wire, Calgary

We must have different news feeds, pretty sure the big news today was the cpi running hotter than expected. Signalling more rate hikes in the US, Cad dollar down half a percent today.

[FarmJunkie]

I’m of the opinion anything the government tells the idiot news feeds is bull shit! Went to see JP in Stoon last night and his opinion of the government elected is we are getting the bottom feeders because the common sense able candidates say the hell with it due to the stupid path we are currently on. Only way to change it is to get involved no matter how bleak it looks. Sitting on the sidelines only prolongs it.

[rumrocks]

I’m of the opinion anything the government tells the idiot news feeds is bull shit! Went to see JP in Stoon last night and his opinion of the government elected is we are getting the bottom feeders because the common sense able candidates say the hell with it due to the stupid path we are currently on. Only way to change it is to get involved no matter how bleak it looks. Sitting on the sidelines only prolongs it.

I feel if I was ever elected to the House of Commons it would only be a matter of time before I crossed the floor . . . then escorted out.

[errolanderson]

We must have different news feeds, pretty sure the big news today was the cpi running hotter than expected. Signalling more rate hikes in the US, Cad dollar down half a percent today.

Inflation gauge needs tinkering. Doesn’t include commodities and ocean freight, both highly deflationary. Housing and energies are in-a-tailspin. Also, gold price fallout tells a totally different story about inflation.

In reality, only Wall Street matters in The Fed’s mind.
And Fed manipulative power is quickly diminishing.

[biglentil]

Cad fell off a cliff. Cpi targets are going to be tough to achieve without even more hikes. Central banksters laughing.
Deflation boogeyman just around the corner as always.