Canada's Mortgage Crisis: Trudeau's Liberals driving Canadians into Poverty

War refugees abroad mean mortgage refugees at home.

Canada’s housing crisis is all about neoliberalism. Once again the public good is being sacrificed by the Liberals in service to their Corporate masters. Just as the Conservatives would do if they were in power.

Under neoliberalism the public gets the short end of the stick every time. The MSM will not mention this as they are also in service to their corporate masters.

Where neoliberalism persists there is no open dialogue, no free speech, and no political integrity, just economic chaos and war.

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What Canada’s Politicians and MSM won’t tell us is the housing crisis in Canada and the inflation that goes with it is the result of foreign wars being fought in Ukraine and else where.

It is a very simple equation: To wage war governments have to print money they don’t have, like having a credit card with no limit . The result is prices go up, interest rates go up, and consumer spending power goes in the sewer. What we earn and what we spend is greatly devalued.

The NATO countries of western Europe were so naive as to think they could go to war against Russia with economic impunity. Since then the economic blow back has killed their economies . They know now how unwise it is to go to war against their chief trading partner. Economic sanctions are a double edged sword.

The present Canadian crisis is reminiscent of a similar crisis in the 1980’s when mortgage rates more than doubled and tens of thousands of Canadians were forced out of their homes.

We have to remind ourselves these are neoliberal times when governments are in corporate capture and financing corporate wars. Canada has spent billions in financing Washington’s war on Russia, with Ukraine as the long suffering proxy. To say nothing of its ongoing financial commitments to NATO where all member states are under pressure to increase their contributions to fight the empire’s wars.

Needless to say the tax burden on Canadians could be greatly mitigated if corporations were pay their fair share of taxes. Of course fairer taxation is another along standing issue neoliberal governments refuse to address.

Even during the Covid epidemic corporations were making record profits, flush with cash, and still applied for compensation subsidies. In neoliberal times wealth travels straight to the top I% while populations are put on starvation rations in too many ways— including housing.

It has been been pointed out we are letting in too many immigrants without the housing available to accommodate them which simply deepens the crisis.

During its tenure the government has insidiously increased the size of the civil service by a 100, 000 employees.

The government has gone into a bubble of silence trying to ride out its fundamental obligations to its citizens while protecting the corporate, warfare and imperialist interests it serves.

In the video below Journalist Lorne Gunter provides us with excellent insight into the crisis:

Neoliberal governments say yes to corporations. and their wars, and no to everybody else.

Canada is a colonized country, with colonial values and colonized political elites. Until this changes the country is frozen in time and place. There is no bountiful future in tailgating the empire next door.