In addition to the oil price and Toronto Stock Exchange plunging from its high of 15700 points, now with the surprise rate cut by the Bank of Canada, the CAD dollar is taking a hit and along with that the Canadian Bond yields are going down too….Ouch.
The oil plunge will cause significant problems in western Canada, particularly Alberta which is now seeing huge layoffs in the oil fields and that will have ripple effects to be felt within 6 months.
The greatest confluence of down-cycles since the 1930s is just ahead. The next great bubble will bursts in 2014. Harry outlines what will happen each quarter of 201
In last few years the Euro Zone has been deteriorating. First to head for recession and then depression was Greece, then Cypress, Spain and Portugal. Unemployment at many of these countries now exceed 20%.
The U.S media hasn’t broadcasted a whole lot about this but now here comes France…one of the largest economy in Europe. France, economy is burden by huge debts and the economic slowdown continues.
More people in the United Kingdom are having financial difficulties more than ever, things are really bad…people have loss their jobs and new jobs are scarce.
People in the U.K have really high debt and living expenses are high as well. They are feeling squeezed more than ever.
The U.K government earlier on imposed austerity (cut back on spending) and the economy went into recession, now the U.K government is trying to print money to help boost the economy, but this move will increase the government debt.
