Canadian Deficit Reaches CRIPPLING Levels As Government Loses BILLIONS Of Dollars
In this video, I talk with author and economic analyst John Sneisen @TheEconomicTruth about the most recent news in Canadian debt.
Recently, Canadian budget watchdogs announced that the Liberal Party is unable to account for $2.5 billion.
$8 billion was supposed to be allocated to new infrastructure spending in the next 12 months. But parliamentary budget officer Jean-Denis Frechette says documents only show $5.5 billion.
This has led to a lot of speculation but no clear answers. This isn't the first time this has happened. A little pocket money? We may never find out.
But this all happens as the Canadian deficit reaches catastrophic levels.
The Public Budget Office came out with numbers showing that this year there's a projected deficit of $22.1 billion. That's $4 billion more than the $18.1 billion deficit previously projected by the government.
The Bank For International Settlements recently warned that Canada along with two other economies (China and Hong Kong) are the most at risk in the world of a banking crisis.
Household debt reached $1.8 trillion recently.
Taxes are rising at an enormous rate as debt drags Canadians down. The crash will come. All fiat currency eventually reverts to its true value of zero. It always has, it always will going back to 1024 AD in China.
This is not sustainable. Whether we blame Trudeau who can hardly tie his own shoes or not, this is rooted in a far greater problem of centralization. The central planning of society makes a dependent populace of debt. Decentralization and self sustainability is key to breaking free from this massive global complex that's working every day towards implementing an eventual cashless society through the SDR at the IMF. The story gets more and more dangerous the more one digs into it.
We will continue to cover this as it continues to elapse.
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Thanks a lot for the update on this worsening situation, here in Canada.
It is good to be aware of where things are at and your information sure hits home right now. this way, one can more appropriately prepare for the madness that ensues economic collapses.
Namaste :)
Yet another great video guys!
As a Canadian, I am quite ashamed of it being such a puppet state controlled without any kind of resistance whatsoever by the international banking cabal. Their agents, such as current Bank of England governor (and former Governor of the Bank of Canada) Mark Carney are as evil and corrupt as they come.
I became a non-resident of Canada since 2008, have gotten most of my future pension out (while still possible) and at least no longer [legally] have to pay into the tax-slavery system. I highly recommend others do the same if they can to save their assets and unshackle the chains of financial slavery while this is still possible and legal. Anyone wanting to know how to do this, just msg me.
Hi from Germany!
I love what you guys to at WAM. Keep up the good work.. =)
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STOPInteresting news, it seems that most of the countries in the world share this growing debt issue and it seems that no one has yet found a real solution to the problem.
I can’t say it enough . You CANADIANS need to get rid of your fucking QUEEN ❗️Get rid of your parliment full of monarchs and meat puppets that only serve that bitch who sits on her fat ass and gets paid because she thinks she is special . I mean come on guys you really can’t see the ROOT of the problem ❓