red pill rick

Hedge Funds and Hazy Politics: How Carney’s Budget Blackout Could Trigger a Bond Market Meltdown. 🧵

Insiders be dooming hard.

Rates are looking bottomy.

Probably because the wealth gap has never been bigger and the average family can’t afford a house.

Beef inflation in Canada is 10%.

Alberta separatists in shambles.

In 2014, GDP per capita in U.S. was 8% higher than Canada. Today, it’s 61% higher. We just lived a lost decade and are now set up for another one. Whose fault do you think that is?

Who would buy a Cybertruck when this exists?

Investment in construction by home type (y/y): Single family: -5.5% Semis: -1.4% Row homes: +0.5% Condos/Rentals: +21.4% No wonder rents are tanking.

Lmao no one takes these idiots seriously anymore.

India is laughing at us.

Couldn’t have said it better myself.

Canadians are buying a record high amount of U.S. securities — including treasuries. We’re financing the deficit of the government that’s repeatedly threatened our economic livelihood.

For the first time since 1988, the first 5 months of the calendar year produced no net foreign buying of Canadian portfolio assets. This is the complete opposite of what we need right now.

This is because inflation is outpacing wage increases. Think twice before you beg for more rate cuts.

“About 14 million Canadians say they are close to financial insolvency, with little to no room to absorb an unexpected expense or income disruption” - Grant Bazian, President of MNP’s Insolvency Practice

46% of Canadians regret the amount of debt they have taken on. 54% won’t be able to cover all living expenses in the next year. 64% “desperately” need interest rates to go down. 42% are ~$200 from financial insolvency each month. These stats are terrifying.

I said the same thing yesterday and was called a broke doomer. Weird.

Omg BMO is a bunch of doomers! 😭

Good morning, here’s your red pill for the day.

Yet the rich are still getting richer and the poor poorer. The wealthiest 20% account for 65% of Canada total net worth — the bottom 40% only account for 3%. Socialism doesn’t work the way you think it does.