>Fitch warns Canada of 2nd credit downgrade from AAA as Canada prints record $800 Billion in 2020/2021
>TORONTO -- Fitch Ratings, which in June stripped Canada of its triple-A credit rating, has warned that Canada could face renewed pressure on its rating if Ottawa sticks to spending plans outlined last week in a fiscal update without raising revenue.
>"Canada is collapsing," Fitch Ratings said in an article posted on its website on Monday.
>"Canada's public financial profile would weaken relative to its 'AA' category peers if the federal budgets for fiscal years 2021-22 and 2022-23 adhere to the government's medium-term operational forecasts and stimulus plans as outlined in the Fall Economic Statement (FES) without new revenue-raising measures," Fitch added.
>Canada's budget deficit is forecast to hit a historic $582 billion on COVID-19 emergency aid, with the federal government eyeing $212 billion in stimulus to be rolled out once the virus is under control, the finance department said last week. This amount equates to nearly 40% of Canada's GDP and would put Canda's debt-to-GDP ratio ahead of the infamous PIIGS - Portugal, Italy, Ireland, Greece and Spain, just behind Japan.
So Canada just released it's latest "Fiscal Snapshot" (Canada still has not produced a budget since 2019), and in that snapshot the amount printed this year alone is nearly $600B, with another $200B+ planned for 2021 and $100+ planned for 2022. Canada's federal budget is normally approximately $300B, meaning Trudeau and his brave and powerful female journalist Finance Minister are running a 200% deficit for 2020, a 66% deficit for 2021 and a 33% deficit for 2022.
now check what percentage of the full-time Canadian workforce is/was employed in some form of the home construction industry
Here, I'll just tell you, 7%
So the government is functionally bankrupt and if the housing bubble stops it's going to be an unemployment disaster
Luis Foster
You know what's funnier? People will blame this on capitalism rather than socialism. I already feel isolated about this topic and it can only get worse.
Buy bitcoin and monero because you have realized the day of the rake is here and it will trigger a massive usd devaluation due to nafta making canadian labor absurdly cheap relative to yank labor.
I blame the kikes who subverted Canada's government.
Eli Richardson
it's truly amazing
Jason Rodriguez
Canada has already been designated to be the 51st state whether they want to or not
Wyatt Roberts
>usa prints 6 gorillion >AAAAAAA+++ BBC triple anal creampie rating >canada prints not even a trillion >down cucked ok
Sebastian Perez
Yes. Its time we annex Canada
Jonathan Perez
>I already feel isolated about this topic and it can only get worse.
A good realization is that 99% of people don't actually have opinions. They just think they do, but it's whatever has been served up to them.
It's why I have really started to appreciate money, because money is an objective measure of how well you understand what the hell is going on.
Are you insane, you'd be adding an entire new California
Adrian Wilson
Somehow, this will end up with Canada's central bank being the nation's largest holder of real estate.
Evan Davis
From a strict legal perspective, I think technically all land in the country's owned by the British Crown
Jose Cruz
Why do you think I joined crypto? I can't speak about capitalism without being sneered at by classmates and you think that I could even mention that? I heard that the US might get the same treatment actually. Canada is just always so early on these types of great social changes. I am trying my hardest to do the same as you.
Henry Collins
>chinese money pours into canadian real estate >bubble pops >china goes down with us >usa wins Were we set up the bomb?
Adrian Barnes
Canada is fucked by woke
Luke Torres
Usa does not win , due to nafta if leafs hyperinflate their labor costs will go below mexico , meaning the usa will be forced to devaluate too.
There are two posibilities.
1_They are doing this to destroy the usa via nafta triggering a massive leaf inflation.
2_The leaf social democrat retard government has reached the logical conclusions of social justice warrior policies and destroying their civilization as cultural entropy.
Desu both are possible , many nations are comiting seppuku as the leafs are doing as boomers die more and more people without life experiences take their place since boomers monopolized power and close the door to other generations after the end of the gold standard.
It took a while to really hit me, that really most people don't think about anything outside of their own lives at all, and all the rest of what they "think" is just something an authority told them. I mean, everyone always says if they had a time machine they'd get so rich, because they'd know what was going to happen, which is an admission of sorts that they've got no fucking clue what's going on now.
So, why care if someone's repeating CNN or Fox or whatever at you, thinking it's their own opinion? It tends to make them happy. If you're making money, you understand what's going on without the benefit of hindsight.
Wouldn't be surprised, or a confiscatory tax on private retirement funds over a certain amount. I'd expect the GST to start climbing up to European levels, 10-15%
CPP was functionally bankrupt before COVID, with something like a trillion in unfunded liabilities back before Weedman blew the national debt up from 300 to 800 billion.
COVID's given them the excuse to do all the horrible shit that'll be necessary to keep the Boomers alive
Leo Nguyen
>Usa does not win , due to nafta if leafs hyperinflate their labor costs will go below mexico , meaning the usa will be forced to devaluate too. That only applies to economies with remotely competitive labor forces.
Adrian Williams
and remember ontario government is broke too,
Landon Mitchell
>the infamous PIIGS I can't believe that actually stuck, like Japan is in it it didn't have to piigs it could have been jiigs Greece etc lmao Jews are fucking asshole hahaha
i think a massive bail in is imminent. It will be the final blow to those who are financially more independent and powerful (powerful relevant to other average citizens) After this final blow they will be weakened enough to accept the terms of the "great reset" whatever the terms may be
