The great debt crash

[wheatking16]

The government is at fault they’re the ones that created this low interest environment now they have painted themselves into a corner by ignoring inflation for far too long. The biggest reason that housing got So High was because of low interest rates made bigger and more expensive houses affordable for people who otherwise wouldn’t be able to afford these houses. Land falls into the same category. If mortgage rates had stayed at 5% or more we wouldn’t of been in the $hit storm we’re about to experience.

Governments contributed to the low-interest rate environment, not just one, with the US being most influential currently with a lower interest rate than Canada.

It is easy to pick a scapegoat, however, the reasons are not that simplistic.

If Canada did not play the game, each of our financial situations would be worse off.

I believe the chicken will come home to roost, not only in Canada but elsewhere.

The impact on Canada needs to be on a relative basis and CAD has performed well against USD for the past six years and will likely outperform over the next several years.

[errolanderson]

Heavy. heavy selling tonite in financials. Cryptos appear collapsing. Liquidity concerns heard in China.

[jazz]

Quebec pension fund invested in crypto, and now losing big time on it.

[furrowtickler]

Trudeau will use the carbon tax slush fund to prop up the Quebec pension funds .
Probably on an emergency order ….

[Hamloc]

Everyone blames Keynesian economics for today’s financial mess. I tend more towards MMT. Economists like Paul Krugman preach that government’s can spend at will, that government debt doesn’t matter. That taxes can be used to control inflation, raising interest rates isn’t necessary and money is almost free because interest rates will stay low forever. That reality is going out the window!!!

[furrowtickler]

https://youtu.be/qkujMSZoaoQ

[errolanderson]

Everyone blames Keynesian economics for today’s financial mess. I tend more towards MMT. Economists like Paul Krugman preach that government’s can spend at will, that government debt doesn’t matter. That taxes can be used to control inflation, raising interest rates isn’t necessary and money is almost free because interest rates will stay low forever. That reality is going out the window!!!

Krugman is Mr. Keynes . . . .

[Hamloc]

Krugman is Mr. Keynes . . . .

Keynes from what I understand preached repayment of government debt when economic growth returns. Krugman doesn’t from what I have read ever discuss debt repayment. His only concern is government not spending enough!!!!

[shtferbrains]

Never did understand the cryto currency as an investment.

If it is a currency and you loaded out all last years production 3 months ago taking Bitcoin as payment you have lost 2/3 of the value since.

That is not and never will be currency.

Now the pumps are saying buy the dip.
If it will never be generally accepted as currency why does it exist?

[helmsdale]

How many trillions of dollars of losses are stacking up now? Hearing that the crypto space is worth less than $1T now, wiping out 18 months of gains, and sitting at 1/3 the market cap that it was a few short months ago.

Quite a "store of value"...

[wheatking16]

How many trillions of dollars of losses are stacking up now? Hearing that the crypto space is worth less than $1T now, wiping out 18 months of gains, and sitting at 1/3 the market cap that it was a few short months ago.

Quite a "store of value"...

The average Bitcoin purchased since the Dec 2018 low is up $1400.

CORRECTION $400

[shtferbrains]

How many trillions of dollars of losses are stacking up now? Hearing that the crypto space is worth less than $1T now, wiping out 18 months of gains, and sitting at 1/3 the market cap that it was a few short months ago.

Quite a "store of value"...

At that peak that is off the chart it was 2.9 Trillion with a T.

Does that contribute to reduce inflation as that money has evaporated?