>321,000 healthcare worker pensions used to bail out Home Capital >300 million withdrawn everyday >Massive corruption uncovered *withdrawals intensify* >Why did HOOPP put itself, or rather its constituents in the precarious position of funding what is a very rapidly melting ice cube? The answer to that emerged when we learned that HOOPP President and CEO Jim Keohane also sits on Home Capital’s board and is also a shareholder.
Canada had better let the corrupt mortgage sector burn instead of a corrupt taxpayer bailout like what happened in the US.
Sebastian Davis
By the time your government is done with your pensions retirement age will be 79 in canada, which your heathcare system will make sure no one sees.
the perfect crime imo.
Blake Collins
This is what happens when our government sell everything.
Literally impossible to buy a house with boomers selling a shed for just under a million because they want even more income for doing nothing.
Fuck man i am 32 with a family and when i retire they will probably be no mercy left for the elderly.
Ryder Rodriguez
Finally, Jesus christ
Nathaniel Rogers
I'm sure they're really sorry about it, eh?
Connor Morris
How many jews were involved in this?
Camden Perry
Canada has massive gold reserves, this won't be a problem.
I fucking hate shills.
Justin Gutierrez
I'd say it good and you'll be abe to get a cheap house soon but the truth is bubble will be bailed out with pensions and the houses aren't made to last anyways, they''re garbage materials.
Juan Reyes
If you balance the budget, it wins!
Brayden Murphy
...
Jason Murphy
>Canada has massive gold reserves
We do?
"It's Official: Canada Has Sold All Of Its Gold Reserves", Mar 3, 2016
I'm actually in the market for a house, but I want an older house in the inner city made of quality materials like Tyndall Stone and hardwood
Fuck all those grossly overvalued, shoddy, post 90's shitboxes
Julian Jenkins
>We do?
They some in that one guys butt.
Asher Young
I've been told my whole life to expect no pension or old age social security so cry me a fucking river if house rich boomers have to tighten their belts a bit too.
Brandon Torres
But they are not tightening their belt.
They are making it harder for us later so they don't have to tighten anything.
Zachary Gonzalez
Motherfuckers better not. Stop protecting people from their own foolish decisions by mortgaging the future. We need a nice hard depression to make strong men again.
Caleb Hill
Depression is coming but first they gotta strip all of our wealth and natural resources they can while at the same time importing the most violent foreigners they can find.
Oliver Morris
>when you thought during the happening you'd have to worry about white trash and niggers >but it's the caliphate and they think what you think of as horrible chaos as a comfy free ride
Austin Lewis
I will be somewhere safe but most Canadians are clueless and will meet their demise if the happening does in fact happen. Maybe Bernier will slow the bleeding a bit but I am not hopeful.
Eli Parker
FPBP Dad
Noah Brown
This. The boomers literally sold their children's future to the Chinese.
Christian Morris
once property prices tank will it lead to more chinks buying everything up for peanuts or fewer out of fear of losing money?
Ethan Davis
Chinks play the long game. They will take advantage of the opportunity to acquire more real assets and spread their army.
Michael Lewis
If you prosecute your bankers, they win.
Jackson Davis
>chinks play the long game >chinks pollute more than white people ever will and show no sign of stopping
You really need to think about what you post user.
Connor Turner
Why the fuck do you make this thread constantly, you Anglo-Arabian rape baby? Why are you so obsessed with Canada?
Zachary Brown
They lived like that for about as far back as recorded history goes, just a less advanced form of it.
>they show no sign of stopping This part is very correct!
Henry Lewis
LEAFistan is the laughing stock of the world.
Adam Phillips
You need to stop thinking like a woman. There's obviously different ways to go about thinking of the long term. IE: if you live in a country like china and take individual steps to not pollute then you're a fool.
Gavin Butler
Besides, buy low sell high. And if they're holding a bunch of debt that might become worthless, then why not buy low really hard?
Hudson Ramirez
That would be America with its constant news about gays, trannies and minorities. How's being the tranny capital of the world for the last 8 years and interracial marriage capital of the world for the last 5 years working out for you champ?
Jordan Brooks
>when i retire they will probably be no mercy left for the elderly. Buck up user! I'm sure they'll still be able to afford bullets!
Lucas Baker
I hope they all get raked by the bank.
Aaron Jones
What is it like to be living in a meme? Are there courses in leafschools that teach shitposting and sliding?
Nolan Green
I like these threads they are super cumfy. F5 is best keyboard on keyboard
Jonathan Fisher
>What is it like to be living in a meme? Why would you need to ask me? You should be an expert on the subject
Adam Flores
sucks to suck, leaf
Jaxson Wilson
How many times can this ass-devastated anglo post this meme? Tune in an hour from now and find out!
Ryan Cook
t-tell me it's gonna be okay Sup Forums
Dylan Hughes
You should have bought gold silver guns and ammo.
Because you need them NOW.
Asher Thomas
Dint be a weakling. Embrace the happening
Josiah Phillips
The government will take care of it right. You guys live in a nice socialist progressive paradise.
Jacob Moore
I honestly don't know what to do about corruption, Canadians are too cuckable--they never fight back.
Quebecois actually do something when they are getting fucked too raw.
Connor Adams
>judging articles by the title only
That's where you went wrong nigger.
Cooper Murphy
Americans BTFO. At least we are still more free than you cucks.
Xavier Cooper
Will BC and Toronto ever recover?
>meanwhile the rest of Canada gives no fucks
Jonathan Lopez
>importing the most violent foreigners they can find. Sometimes I think that was the plan all along, not really to eliminate whites, but foremost to get guaranteed chimpouts when the crash comes, so they can easily justify a total military-style crackdown on the population and any opponent and still cling to power, even widening it and basically becoming dictators.
Landon Edwards
Please crash. Oh please!
I need to buy a house so i can breed white children. You can't raise a family living in apartments like rats.
Joshua Jones
>living with feather niggers
Anthony Cox
Raking ur pensions.
Jonathan Roberts
Yes, once prices tank : > banks will cut off lending to the middle class > Canada's government will take money from retirement accounts, tax revenues, and borrow it when necessary and bail out the banks > the economy will tank and there will be layoffs > the middle class will start falling behind on their bills > and then the banks will then open up credit lines to the wealthy so that they can buy assets up on the cheap and take assets from the hurting middle class
Just the same way they did it in 2008 in America. Then, before you know it, prices will soar all the way back up to where they were before the crisis and higher even with a shittier economy and job market.
They call it the gangbang... Fuck you up the upside and fuck you on the downturn. Welcome to the modern world of fuckbag chadism.
Wyatt Thompson
>A Bank >Record low shares
Why aren't you buying shares, user?
Do you really think it's going to collapse?
Lincoln Moore
I see you have my retirement plan.
Kids.
Asher Evans
We have no gold, Trudeau instantly sold it all
Jonathan Kelly
>Pensions >Non-ironically thinking they're going to last
Tyler Reyes
Seriously this. As I watch the generations of my family go into infirmity and death, it becomes shockingly obvious that a decent family and kids to take care of you is the best bet.
Hunter Harris
Just bought a condo, how fucked am I? Bought here in Alberta which still hasnt had a real estate recovery so it was pretty cheap. Very unlikely to sell for less than I paid, but I plan to rent it out when Im further along in my career. Btw >Married >23 >Hopefully starting law school in fall, if not, doing plumbing as a trade
Brody Anderson
>b-but anons, you can just import foreigners,
Jayden Bennett
it'll be fine
Ian Foster
Here in Alberta house prices have done NOTHING even when the economy collapsed, I think in Calgary they're starting to go back up even though the unemployment rate is like 10% officially
It's questionable. Apparently Home Capital is a schedule I bank and probably has access to emergency loans through the Bank of Canada. Also, deposits are insured (I believe) up to $100,000.
That said, there's a serious risk of insolvency. I'm not sure what kind of obligations they have on their books.
Dominic Gray
'Member when Canadians puffed themselves when the US housing bubble burst. yeah. I remember.
Angel Allen
first nation people are reasonably based. i respect that they are nationalists and were here first and relate to them wanting to keep their heritage alive. they're an easy shield when people accuse you of being racist for not wanting a bunch of sand monkeys or niggers coming into the country- "we can't even take care of the minority that deserves it the most, how can you justify bring them in?"
Robert Collins
In that case, they would probably get bought out.
There's no way they'll let it fail, if they do, it would be a miracle for plebs like us.
If it won't fail, just buy shares and enjoy the free Government money. You could easily get 100% return in the next 6 months.
Jeremiah Martinez
Please tell me Canadian collapse can spread to the EU and American bond markets. I already know that Asia is totally fucked if real estate prices collapse.
Who's holding canadian bonds backed by mortgages?
Austin Wood
what about waterfilters?
Brandon Cook
I lived in Winnipeg for a bit, featherniggers aren't nationalistic, they're entitled shits. White Canadians improved their living conditions 1,000 times over and they repay you with a massive murder rate.
Thank God I got to leave.
Jaxon Stewart
Yup, shifting wealth, stripping rights, abd making quality of life shit. Fucking globalist fucks.
Logan Scott
>Dirt worshipping heathen gas huffers are based
Nice try, chief. Now get back on the rez.
Isaiah Davis
why would a jew ever criticize someone else's dumb religion
Asher Powell
A
Jaxson Myers
Ignore faggot OP He keeps posting this shit, pay attention to your own rapidly dying country.
Gabriel Martinez
Seems like private sector doing a pretty good job at handling money again.
Robert Young
They're not based, they are hardly nationalistic, and they are being brainwashed with marxism and "gibs" mentality.
Jaxon Murphy
between oil and selling your houses to chinese nationals you have well-diversified economy
Samuel Martin
You have to go back
Isaac Murphy
It's a two-for-one if they sell them wooden houses!
John Baker
Canada's housing market could collapse if alternative lenders, who account for a non-insignificant percentage of loans (in terms of the percentage of overall housing-related debt -- things matter on the margins) are forced to increase interest rates for existing borrowers and, as a consequence, drive up monthly payments. The kind of people who borrow from these organizations are overextended and are in no position to service a higher debt payments. This would push them into arrears. In turn, foreclosures and selloffs might be triggered and the whole thing would cascade.
Eli Sullivan
The thing that people forget is that bubbles often pop for no reason at all
Jackson Kelly
buy buy buy
Jacob Barnes
This, I've been itching to go innawoods for ages
Getting killed by the elements and having a pack of wolves chewing on my frozen ass seems like the best way to go currently
William Brooks
Could you explain the short-long term implications of this? I understand this will wipe out a huge chunk of many people's worth, but what will the economic consequence be?
Ayden Collins
>implying they'll let the bank collapse Time to buy this shit, we must become the jew
Blake Myers
Maybe we should have been building a wall between Canada and the US instead.
RIP in peace, Canacucks.
Easton Lee
That's brilliant thinking actually. Nice shield
Henry Foster
ohhh, now i member
Benjamin Cruz
>buys condo >going to start law school
Are you just obsessed with debt or something? Also I hope you're going to U of A. U of A Law is shit.
Ethan Bell
Zerohedge has predicted every event that has destroyed the world for 15 years running.
Home Capital is about 20 billion out of the 1.1 trillion Canadian mortgage market. Like all banks they loan money they do not own. When people withdraw their money the bank can end up needing to borrow money to make up the difference between what they have and what they have loaned.
A pension system stepped in and loaned the bank 2 billion at a high rate.
They still have income from the 20 billion of generally 1.5% points higher than market rate mortgages. This makes them one of the most profitable mortgage lenders in Canada.
In short it's only suffering from the same problem any bank run into that engages in fractional reserve lending.
Oliver Jenkins
Quite a few institutions are exposed to the shares and bonds of alternative lenders -- there would be implications for pension funds and commercial lenders to start with. If there was a serious housing collapse, the Bank of Canada would push rates close to zero and commence a quantitative easing scheme (while purchasing bad debt from lenders).
For most people, this would translate into inexpensive but scarce credit. There would probably be a crunch. If the crunch is significant enough, we would slide into a serious recession and our dollar would fall at least to the low 60s. We don't have commodities on which to fall back. Unemployment would spike and housing prices would fall. In short, there would be a massive recession.
Large banks would be directly affected to the extent that people cover their downpayments through private lenders and would default with both sets of creditors. They would also be affected through selloffs and underwater borrowers. They too would increase the rate of interest on variable rate mortgages resulting in a positive feedback loop.
Owen Bailey
Serious question, what's the point in having large stores of gold? Why is having no gold reserves a bad thing?
Charles Edwards
To shore up a falling currency.
William Robinson
that's nice but who's holding large amounts of NHA mortgage backed securities? I want to know who to short.
Jace Wood
But our currency isn't failing. The only time our dollar ever reached parity was when the price of oil was at an all time high. Now that the price of oil has lowered, it's corrected back to where it originally was before the boom.
Brayden Morris
Can you feel it fellow Sup Forumsacks the day of the rake is neigh approaching !!!!
Jace Jackson
Oh for sure they will, the American capitalist system will start chugging along in no time too, and you guys will have all your high paid manufacturing jobs back. That's the nice thing about the systems we live in, you can't go wrong either way.