Not many 20-minute speeches in Parliament are really worth watching, but this is a big exception. Canadians need to see this.
Conservative finance critic Pierre Poilievre has delivered a must-see speech in the House of Commons.
In the speech, Pierre Poilievre warns that Canada checks all five boxes for a forthcoming debt crisis.
Poilievre goes step by step through every warning sign, explaining how Canada meets all the criteria that has been seen in nations that are about to experience a devastating debt crisis.
I encourage you to watch the video and share it widely. This is beyond politics, this about whether Canada will acknowledge reality and get our finances in order as the COVID-19 crisis recedes, or whether we will double-down on massive spending, money printing, and magical thinking that will end in disaster.
“In their study of 800 years of debt crises, Harvard profs Rogoff & Reinhart identify 5 predictors of them:
1. “Slowing output”
2. “Asset price inflation”
3. “Sustained debt build-ups”
4. “Rising household leverage”
5. “Large current account deficits”
Canada checks all 5 boxes.”
Photo – YouTube