No need to worry, by springtime the novelty will wear off and the product that is sitting in your living room will be featured in your garage sale at a fraction of the original price. To your dismay, you still get saddled to the product with debt as a reward for being overly exuberant.  As we creep into the Christmas Holiday season the world remains in chaos. Despicably, Canadians are censored from what is really going on in the world around us as the truth is being subdued.

In reality, people continue struggling to maintain lifestyles as inflation continues eroding our wealth. To reiterate, inflation will continue until governments limit spending and Central Bankers control the money supply. The best example is what has transpired in Argentina, the new President-elect has dissolved the Central Bank, which should happen globally. Too much power is in the hands of a few, controlling the people to fall into a cycle of debt, at the hands of greedy bankers!

In Canada, we have a government bent on taxing the people already suffering from the high cost of living. It’s an absolute travesty, that we have to listen to an amateur actor give a scientific explanation that if a carbon tax isn’t applied, there won’t be a White Christmas for Canadians. Absolutely, ludicrous!

Click below and listen for yourselves, I can’t make this stuff up;

https://youtu.be/XtrJ04CVJZM?si=HewmdPKRFRFZugFJ

Many Americans are still comatose as they try to open their eyelids from the Turkey overload and excessive gravy. The USD has come under pressure as The Federal Reserve is mixed in its approach to confirm an end to the interest rate cycle of increases. ISM PMI Mfg Index fell to 46.7 from the previous (47.6). Consequently, the USD Index started drowning by dipping toward the 102.0 vicinity but is now above the 104.0 level. As I mentioned previously, words will have just as great an impact as the Federal Reserve’s actions.

A benefactor of such a move, saw Precious Metals continue their upward trajectory on USD weakness. Gold hit new highs this past weekend at  $2144/oz and Silver above $26/oz vs the USD.  The spike was not only because of escalating wars but the Credit Downgrade of China by the credit agency, Moody’s, a firm caught in the SubPrime lending fiasco with some possible suspect decisions.

On the other hand, after OPEC Nations struck one of the many deals they keep breaking, Oil spiked close to the $80/B mark. Since then it retreated below the $70/B mark. Further,  the Canadian Dollar tested above the 0.74 cents level (didn’t last long) as Canadian Employment news came in mixed. There were 24,900 full-time jobs created, expected(15k) but the unemployment rate went up to 5.8% vs the previous (5.7%). Something doesn’t add up. Further, the economy unexpectedly contracted <1.1%> in GDP from a year ago. The expectation was for a gain of (0.2%). Whereas the American economy grew by 5.2%.

Meanwhile, Consumer Confidence in the States slipped to 102.0 in November from the previous revised reading of (102.6) in October. Even though the consumer inflation rate receded to 5.7% from (5.9%) the Fed is to decide if they are done with increases or will continue to put more nails in people’s coffins. On the other hand, Jobless Claims have risen to 220k versus expected (222k) as we await Employment results on Friday. Even though the USD is still considered the benchmark in world trade it will only be supported by words and catastrophes, causing perceived flight to safety.

Before the holidays there will be a lot of economic data to digest. Yesterday, the BOC, left interest rates unchanged. Yet keep in mind they have already increased rates exponentially and within the next year many mortgages are coming due and the fallout could be even more disastrous! With the potential crisis about to explode and cause the bankers harm, my friend, Vince Gaetano from Owl Mortgages explains the new Mortgage Charter to try and ease the implosion in the housing market when a majority of renewals come up next year. Another band-aid solution?
Click below to listen, it could be helpful to you or someone you know;

https://www.instagram.com/reel/C0g_G5TrbQ-/?igshid=MTc4MmM1YmI2Ng==

In Canada,  household debt, loans and debt securities have surpassed 102% of GDP.  It seems like people are walking with a black cloud over their heads, forgetting that the winter solstice has arrived which also contributes to darkness and misery presently in their mist.

Note: This is a very telling Article, please take the time to read it as it gives us a visual of current reality. The hole is getting deeper as incompetence creates the crisis we face!

https://www.msn.com/en-ca/money/topstories/diane-francis-canada-in-deep-economic-trouble/ar-AA1kZpuP?ocid=socialshare&cvid=94216f04288f4faa8613dcec9b6c17b2&ei=26