CANADA | WHAT REALLY HAPPENED


CANADA

Jun 05 14:24

Toronto’s Housing Bubble Pops. “The Frenzy is Over – It’s Over”

New listings soar as sales plunge. Prices drop 6% in just one month.

Jun 05 13:31

What the hail is going on in Bruce Mines?

We've seen better cycling weather, that's for sure

Jun 02 11:50

Canada Moves Closer To Banning Raw Milk

May 31 08:16

Document forgery in financial industry more common than you'd think, past employees say

Employees in Canada's financial industry are speaking out about falsifying documents, telling Go Public that potentially criminal acts — like forging and photocopying customer signatures, adding initials to blank documents and using Wite-Out to conceal information — are more common than most people would think.

"It was easily 85 per cent of the back sales team doing it," says a former CIBC financial services representative, who worked in several bank branches and noted that forging signatures on documents occurred at all her workplaces. CBC has agreed to conceal her identity.

May 26 15:24

Quebec Construction Strike Rattles Canada’s Ruling Elite

Quebec’s 175,000 unionized construction workers launched an “unlimited general strike” Wednesday morning, shutting down industrial, commercial, institutional, highway/bridge, and residential construction sites across the province.

May 20 08:27

Faith Goldy: Sharia Fines Come to Canada

Faith Goldy shares the story of John Alabi, a 52-year-old Ontario man issued a sharia ticket for $12,000 by the Ontario Human Rights Tribunal. His sin? He didn’t take his shoes off in his Muslim tenants’ unit where they prayed while showing the space to potential occupants.

May 17 08:47

MASSIVE BANK RUN In Canada! - Home Capital Group CRASHES & May Receive Bailout!

Josh Sigurdson talks with author and economic analyst John Sneisen about the continued developing story regarding Home Capital Group as it crashes and burns following massive losses.

May 17 06:40

Bell Canada hacked: 2m account details swiped by mystery miscreants

Bell Canada said Tuesday 1.9 million customer account details were swiped by hackers – although stressed no payment card numbers or passwords were slurped.

The nation's largest telco said it is working with Canadian police to figure out who was responsible for the disclosure of the customer email addresses, and phone numbers and names of another 1,700 people.

May 14 09:11

China pledges $124 billion for new Silk Road as champion of globalization

Chinese President Xi Jinping pledged $124 billion on Sunday for his new Silk Road plan to forge a path of peace, inclusiveness and free trade, and called for the abandonment of old models based on rivalry and diplomatic power games.

Xi used a summit on the initiative, attended by leaders and top officials from around the world, to bolster China's global leadership ambitions as U.S. President Donald Trump promotes "America First" and questions existing global free trade deals.

"We should build an open platform of cooperation and uphold and grow an open world economy," Xi told the opening of the two-day gathering in Beijing.

China has touted what it formally calls the Belt and Road initiative as a new way to boost global development since Xi unveiled the plan in 2013, aiming to expand links between Asia, Africa, Europe and beyond underpinned by billions of dollars in infrastructure investment.

Webmaster's Commentary: 

Chinese President Xi Jinping has got this absolutely right, and hopefully, President Trump and his advisors will see clear reason to get on board with this, at least to some form of engagement.

In my world, trade trumps war every time.

May 12 17:16

Canada’s housing bubble looks ready to pop

Canada’s banking system will soon be put to the test.

And that’s because the country’s massive housing bubble is starting to unravel.

May 11 08:52

Moodys Slashes Ratings On 6 Canadian Banks, Fears Asset-Quality Deterioration, Soaring Household Debt

Amid Poloz-described "unsustainable prices" in various cities, and just days after the collapse of Canadian mortgage lender Home Capital Group and our discussion of the dire state of Canadian savers (and their record household debt), Moodys has cut the ratings on six of Canada's largest banks because of "ongoing concerns that expanding levels of private-sector debt could weaken asset quality in the future."

As a reminder, even Bank of Canada Governor Stephen Poloz noted that Toronto is out control tonight while answering questions following a speech in Mexico City...

"pretty sure recent gains in Toronto home prices were not sustainable and that the city’s housing market had elements of speculation"

"Financial stability is part of the Bank of Canada’s monetary policy decision making, but the central bank’s primary mission is inflation targeting,... it would be odd to use interest rates to target home prices in just one city."

May 09 15:34

Is Canada The Next Hot Money Victim?

May 05 09:17

Canada's Change To Immigration Rule Aims To Get More Kids To University

"Raising the age of dependents lets more families stay together. This will bring economic and social gains to our country as it enhances our attractiveness as a destination of choice for immigrants and refugees," said Immigration Minister Ahmed Hussen in a release.

May 04 14:29

Canada’s Housing Market Bubble Is At The Horizon Of Implosion; What Implications Will It Have For The Canada’s Economy If The Housing Bubble Does Burst

“Eight years of super-low interest rates in the US have succeeded in inflating home prices in many cities way past the peaks of the housing bubble that imploded during the Financial Crisis. A boom-crash-boom movement.

May 03 07:44

Ranks of seniors catch up, pass young people in Canada, census numbers to show

Paul Kershaw loves his 72-year-old mother and his 101-year-old grandmother.

But they represent a growing challenge for the country, and Kershaw, 42, will be counting on younger age groups to protect and support the services that seniors need as Canada bears witness to a historic greying of its population.

The next batch of numbers from the 2016 census, due Wednesday, is expected to show that thanks to aging baby boomers, there are as many seniors in Canada as young people, if not more — the first time in Canadian history that has been the case.

May 02 11:06

Contagion: Home Capital Bank Run Spreads To Another Canadian Mortgage Lender

Predictably, the news of the ongoing bank run once again spooked shareholders, who sent its stock sliding by 10%, and wiping out two-thirds of the company's market cap in under 2 weeks.

May 01 14:57

Black Smoke Pouring from beneath Scotia Plaza in Heart of Toronto's Business District

Loud bangs echoed from beneath the heart of Toronto's business district at King Street West and Bay Street, followed by plumes of black smoke pouring out from underneath Scotia Plaza.

Witnesses at the scene reported screaming as the noise continued for several moments. Toronto police have not yet determined whether there was an explosion beneath the office tower.

Apr 29 17:32

O (n^2) Canada! Code bugs knacker buses, TV, broadband, phone lines

Canadians have had a mildly frustrating week as a pair of IT problems derailed broadband connections, blacked out TVs, cut off phone lines, and halted buses in America's hat.

Nationwide telco provider Shaw said a botched software update was behind an outage that left thousands of customers across the country without home internet, phone, or television service for several hours on Thursday. "A significant number of Shaw customers across Western Canada [were] impacted," said the comms giant, which has more than two million subscribers and employs 15,000 people.

The meltdown, which began early in the afternoon, was fully remedied by about 7PM Mountain time.

Apr 27 01:59

Can US-style Housing Crisis, “Jingle Mail” Hit Canada’s Banks?

Dismantling the old saw that it can’t happen in Canada.

Apr 26 22:25

White House: Trump will not immediately bolt NAFTA

WASHINGTON

President Donald Trump on Wednesday told the leaders of Mexico and Canada that he will not immediately pull out of the North American Free Trade Agreement, just hours after administration officials said he was considering a draft executive order to do just that.

The White House made the surprise announcement in a read-out of calls between Trump, Mexican President Enrique Peña Nieto and Canadian Prime Minister Justin Trudeau.

Apr 26 15:45

If Mortgage Rates Tick Up Even a Little, What’ll Happen to Canada’s House Price Bubble?

The question now being asked, years too late: How will this end?

Apr 24 11:58

Canadian dairy farmers defend industry after trade tirade by U.S. President Trump

U.S. President Donald Trump recently criticized Canadian trade policies for being unfair. He called Canada a ‘disgrace’ for how the country is treating U.S. dairy farmers.

Trump slammed Canada for the second time this week, pushing his “America first” message.

Leaders in the Canadian dairy industry are defending the supply-management system.

“It allows us to focus on Canadian consumers and Canadian production,” said Holstein Canada president Orville Schmidt.

He added Canadian farmers produce enough to meet demand.

“We are not sending milk to the U.S. because that’s not our market,” Schmidt said. “If [Trump] wants to bring milk to Canada, it’s only because he wants to find a place to sell his surplus. So maybe he needs to control his surplus and not try to find a place to sell it.”

Apr 24 07:17

E. coli outbreak strain in several flour brands from Ardent Mills

The Public Health Agency of Canada has confirmed 27 cases of E. coli O121 infections across five Canadian provinces since November 2016 that have been linked to flour produced by Ardent Mills Canada. A 28th victim was a visitor to the country.

Seven of the outbreak victims were hospitalized, but are recovering. No deaths have been reported in relation to the outbreak.

E. coli O121 is a Shiga toxin-producing strain of E. coli. In recent years, according to the Centers for Disease Control and Prevention, it has been responsible for outbreaks associated with flour, frozen foods and raw clover sprouts.

Apr 23 08:06

Did you know that in Canada, there are special gun rights just for Muslims?

Normally, a photograph is required of anyone trying to obtain or renew a firearms license in Canada. However, a photo exception is premitted for Muslim women who wear full face-covering Islamic headbags. No wonder so many Muslims are now illegally crossing into Canada from the U.S.

Apr 23 07:57

MOST HIDEOUS HATE CRIME HAPPENS IN CANADA

Apr 22 06:54

Banks Prepare For MASSIVE Housing Bubble Burst In Canada! - You Won't Believe What BMO Just Did

Josh Sigurdson talks with author and economic analyst John Sneisen about a recent shocking development in Canada as the Bank of Montreal is now bundling uninsured mortgages. A first for Canadian bonds!

Apr 21 09:25

Number of illegal Muslim asylum seekers from America into Canada has TRIPLED

In the wake of Donald Trump’s immigration crackdown and deportation escalation, illegal Muslim asylum seekersfleeing to Canada from the US has soared since the weather turned warmer.

Apr 21 09:15

Toronto House Price Bubble Hit with 15% Foreign Buyers Tax. “Property Scalpers” & “Double Ending” Brokers Targeted

“People need to ask themselves very carefully, ‘Why am I buying this house?”’: Stephen Poloz, Bank of Canada.

Apr 20 08:47

Toronto's Increasingly Unaffordable Real Estate Market Is Going To Impact Other Canadian Cities As Well; Here Is How.

Home sales across the Canada hit a record high in the month of March, mainly due to transactions in the fiercely hot market of Toronto, further fuelling concerns about the city’s real estate sector. The CREA report added to evidence of booming sales in Toronto, the nation's largest market, where bidding wars and soaring prices have sparked concern about a bubble.

Apr 14 13:11

Steve Bannon Calls Jared Kushner a ‘Cuck’ and ‘Globalist’

“There’s a big fight [going on]”

Bannon has lately complained about Kushner trying to “shiv him and push him out the door”

The fighting between Kushner and Bannon has been “nonstop” in recent weeks, according to sources who spoke on condition of anonymity. It’s been an “open secret” that Bannon and Kushner often clash “face-to-face,” according to senior officials.

Apr 11 12:12

“Canada: Irrational Exuberance?” Wild Housing Speculation Drives Entire Economy

Everyone is afraid of breaking the addiction.

Apr 11 09:49

Toronto’s Real Estate Market: Is This The Worst Ever Real Estate Bubble In History

For homeowners the great, big, unanswered question is whether or not the Canadian real estate market will finally crash in 2017. Turns out, all reports and analysis lean towards a flattening out of property prices in most Canadian markets, with some areas of the country experiencing a decline in both sales activity and prices, as other areas continue to experience price gains, albeit at a much slower pace than we’ve seen in recent years.

Apr 11 09:33

Trudeau Points Finger At Russians For Syrian Chemical Attack

Canadian Prime Minister Justin Trudeau blamed Russia for Syrian access to and use of chemical weapons on Monday.

“Countries that have been supportive of the Assad regime bear some of the responsibility for the chemical attacks on innocents,” he said.

“And those countries must also be part of the solution as we hold the Assad regime to account and as we move tangibly forward as an international community to ending this conflict in Syria.”

But Trudeau refuses to specify how that regime should be held to account nor if Canada will be part of any military solution.

Webmaster's Commentary: 

Here's your rifle, Justin ...

Apr 06 14:32

Canada-EU "Trade Deal" Contains a Gift for the Rothschilds

Ostensibly a trade deal, Bill C-30 will forever prevents the Bank of Canada from creating debt free currency.

Apr 06 12:21

Toronto House Price Bubble Goes Nuts

Based on fundamentals? You gotta be kidding.

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