MASSIVE Debt In Canada! – Bankruptcy & The END Of The Middle Class As Country NEARS Recession

Josh Sigurdson talks with author and economic analyst John Sneisen about the vast amount of debt in Canada as Canadians are going broke!
HALF of Canadians polled claim they are just $200 away from bankruptcy. 26% of Canadians say they have no room to move at the end of the month. This problems is becoming more and more noticeable in Canada as more taxes and regulations affect the average person in their pocket book. It is becoming alarmingly difficult for people to afford anything as the middle class disappears.
As the carbon tax comes in, gas prices are skyrocketing, everything is going up in price essentially due to exports and imports being taxed by the carbon tax, then there’s the problem of inflation in the first place. The price of living is going to continuously climb at an unstable rate if currency is continuously printed. Interest rates are at a level that is completely unsustainable and will likely go negative, under -2% in the next recession. The recession is on the near horizon as is shown in the yield curve data where the 10 year is inverted with the 1 month.
The banks are bankrupt and interestingly, while Canadians themselves cannot afford to pay off their debts, the Canadian government cannot pay of its debts either! This is why taxes are being taken to pay off simply the interest on the debt! Does that sound like someone interested in actually paying off their debt? Of course not!

There are more solutions than there are problems, but first people must understand the problems so they can stop perpetuating them, especially by thinking another person in “power” is going to change anything. Trudeau is losing all support and this is a good thing, but that doesn’t mean some other figure is going to replace him and make things all better. It’s the function of the state to make people subservient. It is the function of the state to control the populace and people must understand that changing the person running the mechanism of control isn’t going to change the fact that they’re supporting the mechanism of control.

People must break free, be responsible and self sustainable. They must understand money and be prepared. It’s better to be over prepared than under prepared. All fiat currency eventually reverts to its true value of zero eventually.
In our opinion, gold, silver and crypto are the best ways to sustain what’s coming to us.

Stay tuned for more from WAM as we continue to cover this subject!

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Video edited by Josh Sigurdson

Josh Sigurdson
John Sneisen

Graphics by Bryan Foerster and Josh Sigurdson

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  • Sandy Coueffin

    People use to save to buy what they needed, not wanted. I still try to live this way. Many remortgage every few years so never get to own their own home. Would it be wise to sell your home now and buy again in a year or two.
    The price of gas was $139.9 for reg in Kelowna BC. Carbon tax for Canadians but not for China or India and of course Trump, my hero, refuses to partake in the fake climate change! Are we Canadians making up for those who won’t pay?
    PS Trudeau is bringing us down to a third world country status on purpose!

  • Knowledgeable Queen Khair

    And you Canadians have all those deadbeats illegals fake immigrants running 🏃‍♀️ to your country from America to crash your economy 🤦🏽‍♂️

  • Henry Lancaster

    but ya yall are fuck and should sell u land to the usa and be new states cus when we took the south back we told all state that joined they don’t have to pay back debts to any 1

  • Frustrations of Humanity

    There are so many problems, but it is all by design and on purpose, to keep people in debt servitude, people who are constantly trying to figure out how to meet basic needs will be less likely to protest or rise up against this unfair system of wage slavery, and they will keep accumulating debt just in order to survive. The tax rate for middle class (greater than 128000) is higher than someone with income of 300 000, which people are currently not protesting.

  • Henry Lancaster

    ya weeds to ez get fu ck paying a tax 4 it lol all just shoot the first cop in the faces that trys to tax me cus idc

  • Jason N

    It’s horrible here in the GTA. I think most people here like being slaves. It gives them purpose cuz the lost their souls. The Greater Toronto area is a lost cause. It’s time to abandon ship.

  • Henry Lancaster

    but that fat fuck in the green don’t have the balls to stand up 4 his rights and his gov knows he a bich 2 so u get taxt like the bich u are cus u ant got doing shit to stand up 4 u people

  • Yvon Desrosiers

    Canadians don’t worry :
    He said : Budget balances themselves
    He has a dollar symbol on his Lavallin clown’s socks.
    WHO IS HE?

  • Good Faith

    As automation increases, employment decreases! One Solution: Original Good Faith Privatization! Any questions?

  • Dan Taz

    Kind of hard to blame the sheeple, when the circus show is so dang believable… Government indoctrination doesn’t end with school, it’s on MSM and now social media. It never ends.

  • R 1900

    In the 1970s they said that in this time. Canada will be economically bankrupt and Trudeau father gave the Bank of Canada to the Rothschild bankers that put us here

    Canada needs to stand up and push the Rothschild bank out!

  • PathisNarrow

    my uncle told me at easter that we wont ever get another recession in canada again. ……..i was like….ummmmm?…. then I ate some cheese.

  • Veterans Cannabis Advocacy Group

    Yo🇺🇸🌎They Don’t Want To Know, Cause that would mean they would have to change, does a Zebra 🦓 Change it’s Stripes ⁉️ America already been Fully Satanic Infiltration, Hellywierd so busy try sell u 🇺🇸🤡Another Super-Sexy Fantastic SuperNatural SuperWomen, BARF 🤮 Who Going Save U Vile Video Game Cowards✅DeNILE 👌Have Fun @Hunger Games~🇺🇸FOOLS 👀

  • MrValgard

    nah it’s not bad, Canada debt to GDP is now 31,2%, in 1997 was 63,8% so doing quite good. While most of EU is 60-80% :/

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