BIG SHORT ll

[jazz]

The average Canadian has no money or equity. They can’t bail anything out.

What they can do is pay interest on printed money which never stops.

[LWeber]

The average Canadian has no money or equity. They can’t bail anything out.

What they can do is pay interest on printed money which never stops.

2 DAYS AGO- STATSCAN:


Oh Canada...we stand on guard for thee...


Net worth for least wealthy affected more by recent economic turmoil
In contrast with earlier in the COVID-19 pandemic, households have recently faced a perfect storm of economic pressures, with asset values declining amidst turmoil in financial and housing markets, as well as increasing interest rates and persistently high inflation. On average, regardless of a household's demographic or economic characteristic, gains in household wealth acquired over the previous year have been erased. Average household net worth was $940,558 as of the second quarter of 2022, down $65,400 (-6.5%) from the previous quarter, and down $19,318 (-2.0%) from the second quarter of 2021.

The wealthiest households (top 20%) held more than two-thirds (67.1%) of all net worth in Canada, while the least wealthy households (bottom 40%) held 2.8%. Recent economic headwinds have been most acutely felt by more vulnerable households, such as the least wealthy, as their average net worth declined by 12.0% (-$8,828), more than double the rate of decrease of 5.9% in average net worth of the wealthiest (-$199,118).

Reductions in average net worth for the least wealthy were due mainly to increases in debt (+8.4%), coupled with decreases in financial asset values (-6.5%). Meanwhile, declines in net worth for the wealthiest were derived entirely from reductions in both financial assets (-6.0%) and real estate (-5.4%), while their debt remained relatively stable (+0.4%).

[Guest]

Yep , liberals look out for the little guy ***

[blackpowder]

Creating a new "middle class" lol.

[errolanderson]

Massive collapse in U.S. mortgage applications over past few days.

Collapse looks like-a-duck, walks like-a-duck, now quacks like-a-duck . . . .

[Herc]

Massive collapse in U.S. mortgage applications over past few days.

Collapse looks like-a-duck, walks like-a-duck, now quacks like-a-duck . . . .

Quack quack…

[errolanderson]

This is one for the financial record books . . . .

According to JP Morgan Chase, U.S. investor portfolios are now down 44 percent from January to October 18, 2022. This is a train wreck that may take years to recover.

Amazing financial destruction as the U.S. is apparently not even in-recession, we are told . . . .

[ajl]

I think too much is being made of the so called 'bail in' legislation. Banking deposits have always been liabilities to the bank so that if they become insolvent, you stand in line like other creditors. CDIC guarantees $100K of those deposits so one must deal with multiple financial institutions if you have larger deposits and most know that. Registered accounts are separate and joint account each have the $100K guarantee. Credit unions have their own guarantee mechanism as they are not part of the CDIC. That said I am amazed that we have not seen a financial institution failure in canuckistan recently. There have been some credit union mergers and these are likely due to 'handwriting on the wall' situations. The banking sector in canuckistan is overly expanded and I expect to see failures happening. CDIC will likely get dicey the the ninth or tenth one so diversifying one's holdings is wise.

[errolanderson]

Plunging European natural gas prices. Crude oil prices sliding despite OPEC cuts. Hang Seng index diving. Financial instability concerns definitely heightened . . . .

[jazz]

Because QE is being removed the stock market will go back to at least pre covid levels maybe lower. Won’t recover for 5-10yrs. Lot of retirement plans got revised this yr.

Then the housing market is stumbling crumbling as we speak.

Never forget it was insane covid policies and great reset build back better climate garbage that brought this on us as was predicted. My land loan at 2.5% is looking pretty sweet right now.

[wheatking16]

Plunging European natural gas prices. Crude oil prices sliding despite OPEC cuts. Hang Seng index diving. Financial instability concerns definitely heightened . . . .

Grains, oilseeds and fertilizer prices look vulnerable also.

[Taiga]

https://farmpolicynews.illinois.edu/2022/10/fertilizer-prices-are-falling-black-sea-export-deal-in-focus-while-mississippi-river-flow-draws-attention/