Sorry to have made you sit through 2 minutes with Freeland but I hope you got an idea of what she’s saying…and if not, I’m going to lay it out for you.
This “crown jewel of the financial infrastructure”…has been leveraged and all of the money that Canada has been printing has been secured by it.
A trillion dollars in debt borrowed against $570 Billion in CPP - 53% owned by the Province of Alberta…meaning…if Alberta does move ahead to an APP, there’s nothing left to collateralize the current deficit, we lose Triple A Credit Rating and interest rates will hit the sky!
I mean…the writing should have been on the wall when the liberals announced a CPP2 and an increase in CPP contributions:
But now that Freeland has let the cat out of the bag…we all know why she flew into panic mode and met with the AFL Pres - Gil McGowan and is running a fear and smear campaign across the country.
The Alberta Divorce from the CPP would cause an economic collapse.
There is no nice way to say it.
We’re pinned to a fund, that while not completely controlled by people who have no sense of fiscal management - they’ve managed to spend it without the ability to spend it.
Our choices on this - in separating from the CPP would be - crush every home owner with a mortgage…or continue to be screwed by the feds, locking us into an even worse situation.
Even worse?
Not sure how much worse this could actually get…but they got us into generational debt by securing their reckless spending with our pensions. The only way this could actually get or be worse is if they invested this into Green Technology.
Oh Shit.
Oh Fuck.
They’ve probably done this too.
Not a good day in Canada today, my friends.
Not a good day at all.
We're Leveraged to the MAX!