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.
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”.
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.
To get to the point, the American government cannot repay all the debt it has accumulated. America has borrowed way too much, like a teenager with a brand new credit card.
In the next decade, be aware and prepare. As the U.S dollar is going down, because the rest of the world will not be buying U.S bonds/treasuries as the U.S government institution prints more money. Possible hyper-inflation might be coming.
The Chinese internet giant is now accepting Bitcoins for its Jiasule website acceleration service. This is a big move and endorsement for Bitcoin in China.
It would seem that while, the United States is cracking down on Bitcoin, businesses in China are more and more starting to adopt it.
Also, Chinese citizens are adopting Bitcoins at an alarming rate, with the most ever downloads of the Bitcoin client coming from the country in the last year. Read the full article at CoinDesk
My wife went to receive money I sent her and guess what Interac Canada bank to bank money transfer not working…it’s down.
Interac bank to bank money transfer which allows you to send money by e-mail and then money from one Canadian bank account can be transferred to another Canadian bank account has been down now for almost 2 days.
Other U.S Government departments are affected by government shutdown like NASA. A few days of no work for more than 10 million Americans is going to impact the U.S economy in a big way.
It basically means these people will be tightening their belts.
Back to Home Page
