I’ve been watching the situation of Canadian personal debt for a while, and it seems like it is getting bigger and bigger. This latest report shows a 3% increase in personal debt not including mortgages.
What most Canadians are failing to comprehend, is that all it takes for them to hit financial ruin is a loss of a job and a rise in interest rates. Most Canadians should think about trying to reduce their debt as much as possible as the next downturn in the economy is coming between 2014-2017.
I got into Bitcoins this year April, when it was at $120, and now it is at almost at $1000.
It is a viable currency, I have bought groceries and Amazon.com gift cards. If you can exchange Bitcoin for goods and services than it is a form of money.
As well, thousands of brick and mortar and online stores are now accepting Bitcoin.
I’ve been watching the Canadian housing market for over the last decade now, and let me tell you have things been getting really frothy. In downtown Toronto, you can now get a one bedroom 700 square foot condo unit for $280,000 to $320,000. My wife and I decide earlier last month to walk our weekends in downtown Toronto to enjoy the scenery and restaurants and during those excursions I kept a mindful eye on all the condo construction and cranes that were all over.
Recently there have been many articles stating that there is now record number of money inflow into stock/equity mutual fund by retail investors. This is a sign that the market might be topping, when enough money goes into this market and drives up the stock market in the short-term , it is going to be the “blow off top”.
After watching the Jimmy Kimmel video above from his show, one can just sum it up to humor. I mean I have to admit it is quite funny to hear a bunch of kids say those things.
But, what if you replaced the word “Chinese” with another group of people or country:
Wall Street is pushing Facebook, Apple and Amazon. Earnings and outlook for some of these tech companies aren’t looking good going forward, but some reason the stock price keeps going up.
The Nasdaq is probably on its last push upwards, but you never know it can go higher as the U.S Fed prints more money and injects it (manipulate) into the market.
The government don’t want you to know who “The Fed” is. The government wants to keep you, the citizens in the dark and stupid so that they can be left to sneak around in the shadows and waste American tax dollars.
The Fed is printing U.S dollars out of nowhere, which de-values the the U.S dollar and creates inflation. As well the Fed and government waste tax dollars by bailing out banks with $800 billion of taxpayer money.
Canadian financial company Manulife is looking to Asia for growth. While as it stands now 75% of Canadian citizen are in debt and finding tough to get by, they just don’t have the money to invest.
Meanwhile, in the United States the average citizen is broke and even more in debt, despite the fake real estate recovery and all-time high manipulated stock markets to make things look better than they are.
The market has been on a mega uptrend since October 2011 and that long term trend has not been broken. Who knows then the rug will be pulled from under the markets feet.
From the looks of it (the technical charts) , S&P will probably be pushed to 1800, the Nasdaq will be pushed to 4000 and the TSX (Toronto Stock Exchange) will make a final push to 13250. Those seem to be the major resistance areas. Nobody knows when the markets is going take a dump.
You can read the related article on this by Zerohedge.
http://www.zerohedge.com/news/2013-10-25/open-letter-russell-brand
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