Watch: Pierre Poilievre Warns Canada Checks All 5 Boxes For “A Forthcoming Debt Crisis”

Article Link: https://spencerfernando.com/2021/01/26/watch-pierre-poilievre-warns-canada-checks-all-5-boxes-for-a-forthcoming-debt-crisis/

Conservative finance critic Pierre Poilievre has delivered a must-see speech in the House of Commons. In the speech, Pierre Poilievre warns that Canada checks all five boxes for a forthcoming debt crisis. Poilievre goes step by step through every warning sign, explaining how Canada meets all the criteria that has been seen in nations that are about to experience a devastating debt crisis. I encourage you to watch the video and share it widely. This is beyond politics, this about whether Canada will acknowledge reality and get our finances in order as the COVID-19 crisis recedes, or whether we will double-down on massive spending, money printing, and magical thinking that will end in disaster. “In their study of 800 years of debt crises, Harvard profs Rogoff & Reinhart identify 5 predictors of them: 1. Slowing output; 2. Asset price inflation; 3. Sustained debt build-ups; 4. Rising household leverage; 5. Large current account deficits. Canada checks all 5 boxes.”