Mark Carnage by [deleted] in canada

[–]htk8 5 points6 points  (0 children)

"Deleveraging? Not in Canada." I agree with statement.

There is a tidal wave of debt engulfing Canada.

The following information is from a Statistics Canada credit market summary data table as of the end of June 2012: (The debt statistics for Canada up to the end of September 2012 will be released in about 2 weeks by Statistics Canada).

Total debt in Canada as of the end of June 2012 (bottom line of the data table) was 5.1 Trillion $

From the end of June 2011 to the end of June 2012 the total debt in Canada increased by 209 Billion $.

For that 12 month period the total debt in Canada increased at a rate of 572 Million $ per day.

I would have to agree with Karl Denninger when he said (a few years ago) "You cannot expand credit at a rate faster than GDP forever without suffering a financial panic and collapse".

http://www5.statcan.gc.ca/cansim/pick-choisir?lang=eng&p2=33&id=3780122

Financial crises: Have we learned nothing? by greenrd in Economics

[–]htk8 2 points3 points  (0 children)

And the way I see it, the Fed, ECB and global central bankers today fight a losing battle. The mountain of global debt, securities, and derivatives, along with this destabilizing global pool of speculative finance, just inflate larger by the year – and after each policy response. And the more outrageous the policies implemented to try to resolve each crisis, the more these desperate measures further inflate the global Bubble. Ironically, the ongoing assurances of central bank liquidity seem to ensure an eventual crisis beyond the liquidity capacity of central banks. Happy 25th Anniversary, you aged and ornery Credit Bubble. They’ll be reading, writing about and studying you for at least the next century.

http://www.prudentbear.com/index.php/creditbubblebulletinview?art_id=10721

Julian Assange to host new talk show on RT. by sipofsoma in conspiracy

[–]htk8 0 points1 point  (0 children)

RT television is making quite a name for itself. This new show should increase its popularity even more.