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Friday, May 12, 2017

DOWNGRADE: ALL Of Canada’s Big Banks Just Had Their Credit Ratings Cut

Move signals growing concern about weakness in our economy and financial sector

As worries over mortgage lender Home Capital Group and rising consumer debt spreads, Moody’s Investors Service has downgraded the credit rating of all of Canada’s biggest banks.

TD Bank, Bank of Nova Scotia, Canadian Imperial Bank of Commerce, Bank of Montreal, Royal Bank of Canada, and National Bank of Canada all had both their long-term debt and deposit ratings cut one level.

Here is a portion of Moody’s statement:

    “Moody’s Investors Service (“Moody’s”) has today downgraded the Baseline Credit Assessments (BCAs), the long-term ratings and the Counterparty Risk Assessments (CRAs) of six Canadian banks and their affiliates, reflecting Moody’s expectation of a more challenging operating environment for banks in Canada for the remainder of 2017 and beyond, that could lead to a deterioration in the banks’ asset quality, and increase their sensitivity to external shocks.”

    David Beattie – a Senior Vice President at Moody’s – had this to say about the downgrade

    “Today’s downgrade of the Canadian banks reflects our ongoing concerns that expanding levels of private-sector debt could weaken asset quality in the future. Continued growth in Canadian consumer debt and elevated housing prices leaves consumers, and Canadian banks, more vulnerable to downside risks facing the Canadian economy than in the past.”

Rising threats to the Canadian economy

The disturbing data is adding up when it comes to the Canadian economy. Wages are stagnant, young people are leaving the workforce, job quality is declining, debt is rising, massive deficits continue, and economic growth remains weak by historical standards.

While Moody’s statement is carefully worded, it points to severe worries about the stability of our financial system and our country. As we saw in 2008, it doesn’t take much for a weak economy to tilt towards collapse.

And yet, at this very moment the Trudeau government is putting the future of our infrastructure – and $35 billion taxpayer dollars – into the hands of some of the very same banks that are now at increased risk.

As they do that, the government is also increasing our taxes – which will make it even tougher for Canadians to reduce our debt burdens.

And if that wasn’t bad enough, the large increase in government regulations will continue to stifle growth, making it nearly impossible for both consumers and the economy to grow our way out of rising debt levels.

The Moody’s downgrade is a warning that must be taken seriously. The path of big-government spending, high taxes, high debt, and giveaways to billionaire bankers is the path to disaster. Our country literally cannot afford the approach being taken by the Trudeau government.

Fiscal sanity must be restored quickly, or Canada could find ourselves in a severe financial crisis. We are not immune. Don’t let anyone tell you it can’t happen here.
This is not good. 
Instead of dishing out billions to serve Tinkerbell the selfie queen's private pet projects,  maybe they should strengthen Canada's economic policies?
Canada’s foreign aid surpasses $10 billion
This is on top of what we already give.....

Why is he dishing out so much on top of what we already hand out??? Here's why...
Trudeau Planning on Wasting Millions on Worthless U.N. Bid
Countries have also used foreign aid as a useful campaigning tool, and the worst part is that the money being spent is not going out of the pockets of the elites. It is the taxpayer’s money, which should be spent on them, and not for a seat at the UN Security Council. That seat will have no benefit for Canada; on the contrary, the biggest drawback for Canada is that the Security Council Votes will be controlled by the permanent members, namely the United States, Britain, France, China, and Russia. 

Maybe they should realize putting a man-child without political or economic savvy  was one of the worse idea this country ever had...
We all believe in helping others, but not at the cost of our own, the way the economy is going, under this man-child, there will be nothing left for Canadians by the time his mandate is done in 2019...

The politics and democracy of the west now depends on how cute the person is or their gender or race...
Damn be the policies.....
And they wonder why we predict the fall of the western world?

 Thirty uses for Justin Trudeau’s cardboard cut-outs
This man-child is making fools and a laughing stock of all of us...


Anonymous said...

Sink a country+no problem

Pretty hair= aaa+


BlackWolf said...