>Canada’s negotiators say NAFTA talks have stalled
>Steve Verheul, Canada’s lead NAFTA negotiator, has made a stunning admission. He says there have been no talks for the past two to three weeks. Meanwhile, the Canadian auto industry is bracing for a hit if the tariff war continues to escalate.
>Leaf memeconomy GDP 50% dependent on USA exports >NAFTA cancelled (resulting in thousands of new tarrifs on leaf exports) >25% Steel Tarrifs >10% Aluminum Tarrifs >25% Tarrif on Leafmobiles (coming soon) >Housing Bubble has burst and has been only thing propping up your memeconomy, 50% of Mortgages are resetting this year >Canada has $1.1T federal debt, $700B provincial debt, +municipal, 130%+ of GDP >Mortgage debt is $1.3T >Home Equity LOC debt at $250B >Odds of a rate hike this year dropping below 50%, Poloz may cut, the Fed is set to raise rates 3 more times before the end of 2018 >Loonie hit a 1 year low at sub 75 cents, set to drop below 50 cents maybe hyperinflate with US rates going up while BOC cuts rates >Canada has no gold reserves and only $80B in FOREX reserves, can't backstop the Loonie from hyperinflating
If Canada is so bad, why we have a lot of Pole immigrants...?
Adrian Miller
how else are we gonna get an influx of that prime blonde bussy?
Gabriel Cooper
Someone post the negotiation team they sent
Jackson Thomas
Wtf is this. Is that real?
Ayden Cox
There are a few different Canada's these days. So much land and a smaller population than California. The reason Canada became a meme country, international politics is irrelevant to hunter gatherers
Liam Gomez
most of us used the uk as an employment proxy in the late 80's before coming here in prime time early 90's
Samuel Cox
Wait what?
Adrian Jackson
Canada's MASSIVE Housing Bubble has begun bursting and financial regulators and RE mortgagecucks are panicking.
>Summary
CMHC = Fannie/Freddie Mac
Canadian housing has nearly tripled in 10 years. A single detached house has gone from about $200K CAD to over $800K CAD.
CMHC has $16B in assets and $946B in liabilities >60:1 leverage
Banks have lent out a trillion dollars in mortgages for hyperinflated crackshacks while removing any risk of default for them by offloading them to the CMHC (mortgage insurer). At one point, the CMHC allowed 40 year mortgages (in 2008 60% of all new mortgages were 40 year terms), with 0% down (cashback mortgages were a thing with 7-10% cashback), and no maximum loan value. In 2008, over 90% of mortgages were insured by the CMHC (read:
>the entire Canadian housing market is subprime
CDIC = FDIC
Insures up to $100K.
CDIC has $3.4B in assets CDIC has $679B in liabilities >200:1 leverage
Both CMHC and CDIC are backstopped by the government.
A 20+% correction would wipe out the CMHC and at least one major Canadian bank as they have uninsured mortgages (already happening with Home Capital, the Canadian CountryWide). A bank being wiped out would wipe out the CDIC.
The CDIC and CMHC being wiped out would require the Canadian government to issue hundreds of billions of loonies in new debt, sending the loonie to sub-50 cents, possibly to 20-30 cents or even hyperinflating.
>NAFTA single handedly destroys the canadian economy This is good news, really brightens up my day.
Carter Cox
I thought Trudeau had handlers, is he really calling the shots and just generally being retarded?
Adam Cook
>What's happening now? The CMHC has been reigned in to a max loan value of $1M, max amortizations of 25 years (from a high of 40), 5% downpayment on the first $500K, 10% on the next $500K (7.5% on $1M).
People have been using "alternative lenders" who loan $2-3M on self-declared income or with fake documents. Now these lenders are blowing up and not making new mortgages, hence prices have stagnated or dropped (as in Van, already down 15% this year).
Once a massive across the board drop occurs, lots of people who are leveraged to the tits with negative/0/5% downpayment 30/35/40 year mortgages will be underwater (they will owe more than they can sell their house for).
>Canadian mortgages are all Adjustable Rate Mortgages (ARMs) that reset every 5 years
When renewal comes up, which is soon for a lot of 2010-2012 mortgages on 40 year terms with negative/0/5% downpayments, they will be forced to come up with hundreds of thousands of cash to bring their mortgage Loan-to-Value back down to 80-95%. 99% of people won't be able to come up with the money, so the bank will write off the mortgage with the CMHC mortgage insurer, who will pay the bank the loan back then take possession of the house and do a fire sale, and then go after the homecuck for the balance which will be hundreds of thousands for life. Bankruptcy can't discharge CMHC debt since it is Crown debt.
In fact, banks can call in mortgages at any time for any reason (lol). So if they see prices dropping, they will pre-emptively call in mortgages and write them off to stay afloat. Once this occurs, it's a race to the bottom as banks are forced to call in more and more mortgages to stay afloat (in order to maintain their Tier 1 capital ratios with marked market values of the houses on their books)
>A significant price drop will put millions of homecucks underwater >Banks call in mortgages >Homecucks can't come up with margin >CMHC bails out banks and dumps toxic houses on market collapsing prices
You're doing God's work. These leafs have been a scourge that need to be reminded of their place. I kind of miss the 'Canadian Cock Concubine' posters though, those were pretty good.
Adrian Jenkins
Problem is you can't directly short MBS in Canada. You can short the 5 year, which is what most mortgages are tied to, along with the Loonie itself (it tends to get shorted to fuck when Canada goes into recessions, >muh low currency = bigger exports), and some public subprime lenders, but the main banks are tough because they always get bailed out by the feds. The feds also passed in bail-in provisions, so the bank can seize customer deposits and use it as Tier-1 capital. Also the Leaf regulator lets banks stop marking their books for eternity etc
Leafistan is one of the most corrupt financial places on earth >Bre-X >Nortel Networks >Valeant Pharmaceuticals (yes it was actually the #1 TSX market cap company at $90B, over RBC) >Sino Forests >etc >etc >etc
Pierre Trudeau sold the Bank of Canada to jews. They demanded the gold and it was done over the past few decades to ensure debt slavery forever.
Lincoln Johnson
2019 IS GONNA MAKE 2008 LOOK LIKE A PICNIC
STARTS WITH THE BOND MARKET
Matthew Gutierrez
damn I love this toilet cleaner who for some strange reason has an eternal hateboner on canada. keep up your threads, your fanfics satiate my desire for happenings and leftocalypse
except china is waiting to catch the ball when us drops it, then us has proxy war on doorstep
they’re already working on mexico
there’s a certain level of fucking i don’t think the us will pass (like NORAD removal)
at that point rake/annex is safer
Easton Hughes
Since most Canadians are sand niggers now. Fuck them. Let Garry save the day with his pussy hat and pink dresses. Fidel would be so ashamed of his son.
Jose Cooper
Or.... what happens if the government doesn't bail out the bank and just lets the bank collapse and the mortgages are nullified and the home owner gets off without paying any further?
Andrew Hughes
if you see a man you're a homosexual
Charles Ortiz
And to add to that, all the bank employees lose their jobs, the bank CEOs get jailed and their assets seized ect ect
Jordan Campbell
Assume nothing done at such levels is a mistake. Everything is exhaustively calculated and planned.
They're trying to crash Canada's economy.
Nolan Hall
The sooner this country burns, the better.
Hudson Ward
I saw a man in a mask pointing at me. I just assumed it was paranoia but now I have to shove stuff up my ass?
Noah Cooper
Listen Chinaman. China isn't going to do shit because Monroe Doctrine applies to Canada as well. No matter if you supplant 50 million Gook Chinks in Canada it will never really be yours. America would steamroll every Chinaman in Canada and then China proper if the Chinks ever mad a move to fuck with our sphere. Go back to making shitty rice snacks. Your veterans are overthrowing a province as we speak.
Jayden Carter
Then after that, the government goes after the other banks, wipes out the BoC and institutes a new national banking system
Juan Thomas
I see a bunch of lines
Tyler Hernandez
It's a woman sucking a dick. This type of "Art" always has something baseline imagine in mind by the "artist" and then they obscure it and go "What do you think it looks like?"
Luke Howard
i see the woman sucking dick but I can't find the man climbing up mountain.
Lucas Lopez
>Canadian government to issue hundreds of billions of loonies
Also, why?
Tyler Gonzalez
Because your government is fucking retarded.
I want to find the Trudeau hot mic where he's telling his wife how amazing he is and that he's a God for Canada.
Carson Howard
So in other words if Canada does this right and manages the bank fails properly then it'll be no big deal. Does this even effect the Bond Market? The Canada Gov will still be able to borrow money right?
Joseph Kelly
Thought it was an alien head and neck at first desu
Sebastian Cruz
Well I'm not really following the thread honestly. At least not what the Pollack is talking about. But from what I can tell the Canadian government is doubling down, which is a pretty big mistake. There is no real way to get out of this ahead. At least not from what I can tell they are doing. They are just issuing more debt. Essentially they are buying themselves time, not you or the average Canadian working his 9-5. It certainly will affect the Bond market, typically when a government issues debt corporate bonds spike in cost. More government bond sales makes it harder for everyone, but corporations in this topic to borrow. So they are essentially lining up the T for a failure. If your government persists it will not be a pleasant day for the Mapleman.
Easton Stewart
Well, just let the banks """fail""" without letting them bankrupt, just wipe out their companys value, simultanously seizing the top brass' assets and jailing them, stock holders lose all their investments too, oh well you lost money, boo hoo next time dont be reckless.
If it's done slowly and right there might be a small backlash, mostly from the rich assholes that let it happen in the first place, so whats the problem?
Blake Ramirez
The economy will suffer a bit short term but what country did this and came out ahead? Iceland or something... I can't remember.
Noah Cooper
I see what you are talking about but just so I'm clear, you are asking whether or not the crash will give you and your ilk an opportunity to string the fuckers who did it by their show strings correct? Well if that's your question, probably not. At least not the way you'd like it too. Some Bankers will off themselves, most will just move to the U.S. same goes for politicians. You'll see, if you are paying attention, alot of your politicians stop running for reelections and then just kind of disappear. What it will take is a strong man like Trump to actually bring anyone to justice. Say what you will about the guy, but that is what he's been elected for, murdering and bringing to justice the people who started this charade, to the best of his ability.
Joshua Bell
Also Iceland had the unique opportunity of being tiny, homogeneous, and actually stringing up their shitty bankers and politicians. They basically completely overthrew their government, which is doable when you are a nation as small and related.
Liam Foster
Well then, time to fire up the memewagons and educate the Canadian people.
*sigh* and just when I thought I was done with social media..
Josiah Reed
>At one point, the CMHC allowed 40 year mortgages (in 2008 60% of all new mortgages were 40 year terms), with 0% down (cashback mortgages were a thing with 7-10% cashback), and no maximum loan value. In 2008, over 90% of mortgages were insured by the CMHC (read: In the lowest sales year for housing in 50 years, right in the middle of the global crash the small number of mortgages that were issued had 40 year terms and most has CMHC issuance. It's not hard to carefully omit information to make something seem worse than it is.
If you want to use 10 year out of date data to pain a scary picture you could say the QE in the USA was printing 100% of the GDP in new money, in 2008 using the fractional reserve multiplicative effect.
Kevin Robinson
Bring back the auto pact!!!!!!
Austin Jenkins
need sauce, sorry.
Colton Allen
that's retarded trudeau was trying to posture for his domestic audience, trying to make it sound like he was standing to donald trump for them while agreeing to everything trump said behind closed doors trump doesn't like it when people posture at his expense and now the day of the rake is here
Grayson Cruz
The polish are great plumbers. With all the shit Canada is in, they see job opportunities.
Elijah Stewart
Good. Fuck NAFTA, it was a rip off from the beginning. t-American
Carter Perry
Trudeau's skull will be used as a bowl
James Fisher
>When renewal comes up, which is soon for a lot of 2010-2012 mortgages on 40 year terms with negative/0/5% downpayments, they will be forced to come up with hundreds of thousands of cash to bring their mortgage Loan-to-Value back down to 80-95%. 99% of people won't be able to come up with the money, so the bank will write off the mortgage with the CMHC mortgage insurer, who will pay the bank the loan back then take possession of the house and do a fire sale, and then go after the homecuck for the balance which will be hundreds of thousands for life. Bankruptcy can't discharge CMHC debt since it is Crown debt. Or the banks will roll over the mortgage and accept 5 more years of getting 3-4% returns for doing nothing. >In fact, banks can call in mortgages at any time for any reason (lol). So if they see prices dropping, they will pre-emptively call in mortgages and write them off to stay afloat. Once this occurs, it's a race to the bottom as banks are forced to call in more and more mortgages to stay afloat (in order to maintain their Tier 1 capital ratios with marked market values of the houses on their books) So no bank is going to 'call in the debt' (not actually a thing).
Are you a staff writer for Zerohedge?
Jace Garcia
>He says there have been no talks for the past two to three weeks. lololololol the absolute state of meek and mild cucknadians
Can't wait for the crash. Immigrants will abandon in droves and we can get back to normal. Liberals will never win again at this rate, and hopefully we can have trudeau and his cronies publicly hang in dundas square to serve as a future warning to politicians who attempt to sell us out.
Lucas James
All my investments are in USD. Canada is fucked and we are importing 500,000 shitskins a year
This. The thing Is the climate here is not conducive to the IQ 80 shitskins that have immigrated here building slums and favelas. You simply cannot survive the Canadian climate without high skills and high IQ. Even the natives have for the most part lost their ability to survive any hiccup in gibs from whitey.
Is there is any kind of depression, even a small one, winter chan will feed
William Collins
As soon as canada crashes i'm grabbing a comfy tech job in the US. Until then, stockpiling crypto
Luke Martinez
>tfw I already had all the weed i wanted but these statist cucks are fucking it all up
