# Canada's Financial Crisis



## tinkerhell (Oct 8, 2014)

The last I checked, the US national debt translates to over $100,000 per tax payer, which essentially means that every new american enters the workforce with a debt on their shoulders....where the interest payments alone is a sizable portion of a mortgage payment. And it is not going to be paid off - EVER.

Do you think Canada is any better off? Well, numbers wise it might be. The Canadian national debt is about $17,000 per tax payer. And, it is not going to be paid off - EVER.

As a Canadian, we are told that our financial system is better than the US. And, we have a credit rating that suggest that we are.

But, really, aren't we just 'less horrible than the US'?

Check out this documentary on the Canadian financial system, it is absolutely shocking. For those americans on this site, you might still want to watch this. I think the young guy who did this documentary is not without his bias, but I still think he makes many good points that a relevant for North Americans in general, if not the entire world. Interestingly, he quotes US presidents through out the documentary.


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## Diver (Nov 22, 2014)

Canada at one point was managed worse than the US, but turned itself around in about the early 1990s as I recall. Since then they have managed to avoid getting sucked into the US problems despite our shared border and intertwined economies. I'm not going to throw rocks at someone who is managing their affairs better than we are.


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## alterego (Jan 27, 2013)

The total national state municipality city and unfunded liability along with unfunded retirement agreement s is 147 trillion. Their are 316 million legal Americans.
The math is actually like this.
127,000,000,000,000÷318,000,000
=399,371.06 per person. 
and it grows at such a rate by the time you read this you owe one half a million. 

They tell you it is 18 trillion for two reasons. They can not tell the truth and most don't understand. You are talking about one type of credit for the fed only. 

It is so bad. We collectively should not know. It would instill panic and become a self fulfilling prophecy.


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## alterego (Jan 27, 2013)

Real Time US National Debt Clock | USA Debt Clock.com

The truth.


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## alterego (Jan 27, 2013)

Former BIS chief economist warns that QE in Europe is doomed to failure and may draw the region into deeper difficulties

The economic prophet who foresaw the Lehman crisis with uncanny accuracy is even more worried about the world's financial system going into 2015.

Beggar-thy-neighbour devaluations are spreading to every region. All the major central banks are stoking asset bubbles deliberately to put off the day of reckoning. This time emerging markets have been drawn into the quagmire as well, corrupted by the leakage from quantitative easing (QE) in the West.

"We are in a world that is dangerously unanchored," said William White, the Swiss-based chairman of the OECD's Review Committee. "We're seeing true currency wars and everybody is doing it, and I have no idea where this is going to end."

Mr White is a former chief economist to the Bank for International Settlements - the bank of central banks - and currently an advisor to German Chancellor Angela Merkel.

He said the global elastic has been stretched even further than it was in 2008 on the eve of the Great Recession. The excesses have reached almost every corner of the globe, and combined public/private debt is 20pc of GDP higher today. "We are holding a tiger by the tail," he said.


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## Diver (Nov 22, 2014)

Actually this thread almost makes me want to move to Canada despite the gun laws and the health care system.


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## Makwa (Dec 19, 2014)

You won't like it up here it is too cold.


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## tinkerhell (Oct 8, 2014)

Ok, lets see if I can remember some stats I saw just a few days ago:

The gun deaths in Canada averages about 1380 people( not per capita) this is the total for the entire country of 33million. 

About 1100 are suicides by firearms( which is about 33% of all types of suicides in Canada)

There are about 180 homicides caused by firearms.

And, another 50 police shootings, misc. including accidents.....50 per year for the entire country.

Meanwhile, healthcare accidents causes as much as 24,000 deaths per year.

So, one thing that micheal moore may have gotten correct in 'bowling for columbine' is Canada is a rifle toting country that doesn't seem to have the problems with firearms that the US has.

My theory? 

I've seen 800 people on a picket line, violence breaks out, and strikers loose their cool, but yet no one goes to their ******* pickup truck to grab their rifle. 

And, I've also seen ( on tv, so admittedly I don't really know what it was like) the LA riots where otherwise law abiding citizens took to protecting their homes with their rifle. 

What is the difference? It is not that Canadians don't have access to firearms( we do have access), we just have a different culture on when, where, and why we would use them. I grew up in a house that knew all about hunting and shooting, but we didn't know sh*t about self defense, or hand guns, or anything tactical....and that was normal. All my friends hunted with their dads.

I remember going to a scout camp in the US, when our troop participated in a skeet shoot, the operators commented that they hadn't seen any other group do so well overall. but we were all active hunters.

put us in LA, and we'd be ducks out of water.

Anyway, I digress. This thread is supposed to be about the documentary and I just got way off topic. Sorry!


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## Will2 (Mar 20, 2013)

It doesn't matter they have their own agenda not a free public. They want to control not enable the public. The timeline is getting irrelevant. Either it will get incredibly bad or most will loose their freedom.


It represents nothing. It just drives inflation.

it forces people to work more. it drives productivity, while waste offsets it.


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## Slippy (Nov 14, 2013)

tinkerhell said:


> Ok, lets see if I can remember some stats I saw just a few days ago:
> 
> The gun deaths in Canada averages about 1380 people( not per capita) this is the total for the entire country of 33million.
> 
> ...


Staying off topic,

From the demographics of Canada, one can make an assumption regarding gun violence;

Ethnic origins of people in Canada (self-reported 2011 Census)[SUP][182][/SUP]
European (76.7%)
Asian (14.2%)
Aboriginal (4.3%)
Black (2.9%)
Latin American (1.2%)
Multiracial (0.5%)
Other (0.3%)


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## TG (Jul 28, 2014)

Diver said:


> I'm not going to throw rocks at someone who is managing their affairs better than we are.


Well said.


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## Makwa (Dec 19, 2014)

Well one thing is for sure, there is not a single country on this planet that is not having financial/economic grief. Some are just worse than others. I think the worst part is that our governments and financial institutions cannot be trusted to tell the truth about anything and they are constantly manipulating things to distort and hide the truth from the unwashed masses. 

As individuals all we can do is develop a plan that will shield our families as best we can, remain focused and move forward.


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## TacticalCanuck (Aug 5, 2014)

A complete financial collapse is out there I don't doubt it. Question is when and how bad. We are ok for now but our cousins to the south aren't and that means we will feel that pain too. Ammo shortages in US means the same for us. .22 is scarce and hard to find. It does come but if you miss the boat you gotta wait for the next. When I found a bucket of rem bullets in .22 I nabbed em. And you know what? They are a little dirty but that's ok I clean my .22s I enjoy them and keep them well. But so much of our economy is owned by the U.S. And the bring it back home clause Obama did caused more than 3/4 of the people at my US owned company to lose their jobs. I can't picture it getting worse but fear it will.


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## alterego (Jan 27, 2013)

Can't we just tax the rich more and fix everything? At the end of 2010, the total worth of all American billionaires was $1.3 Trillion. That is not income, but all income and*all*property. Seizing all their income and all their property would not even close the gap for*one*year. And you can only do it once.


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## tinkerhell (Oct 8, 2014)

Unfortunately, most 'tax the rich' systems in Canada seem to land in my working class lap.


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## Diver (Nov 22, 2014)

tinkerhell said:


> Unfortunately, most 'tax the rich' systems in Canada seem to land in my working class lap.


If you tax the rich, you wind up without any rich.


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## Makwa (Dec 19, 2014)

Well you need to quit playing the game of mortgages and new cars, quit your job spit out a whole passle of kids. Apply for government assisted living and the checks will start rolling in. You'll wonder why you bothered all those years.


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## graynomad (Nov 21, 2014)

Makwa said:


> Well you need to quit playing the game of mortgages and new cars, quit your job spit out a whole passle of kids. Apply for government assisted living and the checks will start rolling in. You'll wonder why you bothered all those years.


Tongue in cheek I assume, but you are half right

"you need to quit playing the game of mortgages and new cars"

This part is good advice.


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## bigwheel (Sep 22, 2014)

Socialism/communism has never worked anywhere it has been tried. Good point.


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