With the World Economic Forum in Davos Switzerland out of the way, we can measure their Carbon footprint simply by having to listen to their toxic ideology. A mockery of elites gathering together to try and build back trust, they are still trying to impose a plan to limit people from consuming meats, limiting our travel and confining us to 15-minute cities. Ultimately, to enslave humanity in the attempt to play god with our lives.  Never Comply and only Trust your Mother! 

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The deep freeze has set in as The Bank of Canada  (BOC), mimicked the weather and kept rates frozen, they will leave interest rates unchanged as the Bank Rate remains at 5%. Citing inflation as still too high and growth projections not met but eventually will. Therefore, because growth has been non-existent would it not be prudent to lower rates and provide more stimulus? As I previously mentioned the BOC will likely leave interest rates unchanged until July. 

Their reluctance to cut rates is based on hypothetical analysis. But with the squeeze grabbing homeowners by the throat, a financial crisis of massive proportions is about to be unleashed this year. As I alluded to previously, 40% of mortgages are coming due this year for Canadians coast to coast. 

Unfortunately, people were not paying down their debt when rates were cheap. Instead, they accumulated more debt because their pay hasn’t kept up with the engineered inflation caused by massive government spending and the Central Bank printing excessive amounts of money. In an escalating environment in which real estate continued to appreciate over the past 20-year period, it was easy for the homeowner to simply re-finance by consolidating all debt into one payment. It could be time to abolish the Central Banks around the world. 

To the detriment of their non-actions, debt has only increased. Higher debt and the increase in rates are causing payments also to rise, in some cases double or triple their present situation. For those that have entered into what was once the most popular product, the variable rate mortgage, the banks have not done you any favours. 

In many cases, they automatically adjust the amortization to allow your payments to remain the same. Therefore as interest rates go up, the length of time to pay the debt also rises. This is negative amortization, adding more years to your mortgage. For example, if you had a mortgage amortized over 30 years, today you might be at 45 years. The Ombudsman has declared this illegal but the Bankers are trying to protect their lending portfolio. A flood of housing on the market could see the real estate market implode and lending portfolios decimated. Keep in mind, that the banks lend money based on the valuation of the property. This could be worse than the USA SubPrime Lending debacle.
No one is immune from allowing gross negligence and incompetence to fester in our country. 

People don’t want to experience pain therefore will continue to pay a debt load which will be like paying rent on the home you will never own for the remainder of your lifetime. Leaving a nest egg behind for your children is a pipe dream as it could become an albatross, especially for the new generation accepting a Universal Basic Income to own nothing and be happy. 

Consequently, another fish to fry is the concern that the Federal Reserve and the ECB will not lower interest rates for the foreseeable future. The Big number that the markets waited for was American GDP which came in @ 3.3% expected (2%) growth. This was followed by a 4.9% increase in the 3rd quarter for America.  Seemingly it’s a positive thing but do people believe it? Earlier in the week the markets opened with panic setting in as a flight to perceived safety was ignited by the discussion of the Chinese preparing a rescue bailout package for their stock market. A temporary solution until China sees an economic rebound? With the landscape potentially changing after the American 2024 elections, will recovery even be possible? 

Nonetheless, the USD Index rises above the 103.50 level once again. Further, the price of Oil explodes higher above the $76.50/B level as energy demand continues. The Cad$ remains buoyant around the 0.74 cent level while Gold dipped toward the $2010/oz level and Silver below $23/oz. Higher energy costs aren’t helping those owning Electric vehicles as charging stations aren’t able to function and people have been stranded for days in the cold weather. 

So much for Climate Change Advocates. When are people going to realize that the production of these vehicles creates more pollution than they are worth? Just look at how they mine cobalt, using massive child labour when the children should be educated and not exploited.  Ask yourself, how is the electricity produced to power them what is the process taken to produce them and who controls a majority of the materials needed for their manufacturing? Ignorance is bliss!