Trudeau’s Radical Economic Shift Could Cause A Personal Debt Crisis For Millions Of Canadians

Continued credit rating downgrades and higher interest rates could be the tipping point that sends many Canadians into financial ruin.

Canada has a debt crisis.

And I’m not talking about our current national debt.

Before the CCP Virus, Canadians had the highest household debt in the world on a per capita basis.

Our household debt levels were worse than the levels seen in the United States before the 2008 financial crisis.

This household debt crisis was in large part a result of the hollowing out of our economy, as good, secure jobs were increasingly replaced with insecure and precarious jobs that paid far less.

This left many Canadians with debt as the last option to try and hold on to their standard of living.

But now, Justin Trudeau could be about to make things much worse.

The government is talking about the most radical reshaping of our economy seen in a generation, and their plans could be disastrous for individual Canadians and Canadian families.

It appears the Liberals will be spending record amounts of money, while simultaneously embracing radical far-left ‘green’ ideas, which will make everything more expensive, and destroy good secure jobs in the energy sector, while crippling Canadian manufacturing and preventing the resurgence of Made in Canada products that is so necessary for our economic and national security.

Trudeau’s policies will also likely trigger further credit rating downgrades, and this is where the personal debt crisis could be launched.

At some point, interest rates will go up, and with Canada losing fiscal credibility, that is becoming more and more likely.

Higher interest rates, combined with the higher cost of living and lower growth caused by ‘green’ policies, will mean that Canadians will simultaneously face higher debt payments, less income, and higher inflation.

You can clearly see how disastrous that will be. Just imagine the damage.

Of course, there is an alternative course.

The government could cut taxes for working class and middle class people, unleash the Canadian energy sector, and rebuild our domestic manufacturing capacity. That would lower the cost of living, put more money in the pockets of Canadians, surge GDP making the debt more manageable, and create good, secure jobs building real things for Canadians.

Unfortunately, the Liberals are moving in the opposite direction.

By rejecting the common-sense ideas I listed above, the Liberals are putting millions of Canadians on the road to financial ruin.

Spencer Fernando

Photo – YouTube

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Lynne

As Comrade Justin implements economic disaster the media aids and abets!

Moe S.

Money comes from production. When people are paid not to produce i.e., CERB and UBI (universal basic income), this government is really paying them not to revolt. Also, once the Federal debt surpasses the GDP by 90% the country will be bankrupt.

Brian Dougan

Bingo. Bankruptcy is likely their goal. I don’t think they’re blind to that outcome.

Brenda Janzen Zellers

Where is our opposition party!!! Does. O one care what is happening??q

Carol

Was that not his plan from the very beginning. Why have we let this get out of control? He has been arrogantly testing us for the past 5 yrs. He knows there are no repercussions. Cannot believe he gets away with his corruption right before our eyes. We need a Derick Sloan to fight for us..

NancyW

I am really hoping that Erin O’Toole puts Derek Sloan in a good place as Mr. Sloan says exactly what he means clearly and well thought out (without apology) as does Pierre Poilievre and Barrett, and several more greatly respected Conservatives, One way or the other WE NEED CANADA BACK AS A COUNTRY.

Arie Intveld

At this rate, the “green” recovery that Canadians will experience is when the only food left in the fridge are green weiners.

To all the SJW’s using their parents’ basements as their free barracks, whatcha gonna do when mom and dad lose the house?

“The purpose of an economy is to support a society, not the other way around.” – Michael C. Johnston

james isnor

Quite simple really. Non confidence vote. If the Bloc, NDP and Green care more about this country than they do about themselves and unconditional power they would vote him down.

john

Unfortunately Canadians do not realize the economic tragedy we are heading towards. It will take a severe depression to wake up Canadians to the mistakes they have made in electing a socialist government. Hopefully once they realize this it is not too late to recover.