The Bubble

Thank you for posting this. It is hard to find Canadian economic documentaries and this one is a needed addition.

Kudos on a great and telling documentary. I believe Canadians have no idea of what's about to hit the fan. People need to live within their means and clean up their debt or there will be no retirement and times are going to get tough...unlike anything we've seen before. When the housing market crashes, and it will, it will wipe out many families for generations.

I'm a young graduate - thinking of buying a home but this has opened my eyes! These low interests environments are not going to be there for long!

I do not mean that all MPs, MLAs and councilors are crooked, but for some reason they will NOT use our Bank of Canada to finance the country and her needs. We did when it was created for us and history will show that until the Bank of International Settlements threatened to bar us and our healthy dollar from international trade we did very well. We financed our share of the second world war, The St Lawrence Seaway, healthcare, Canada pension, Trans Canada Highway, wheat borad and so much more and the only debt we incured was to ourselves, and any small interest paid on that debt was paid to the Minister of Finance on our behalf. Now we use the commercial banks and pay compounding interest to them and in fact we now have trouble even in paying that interest. This Minister of Finance is completely in the hands of the international banks and we will never get out of the spiral until we turn again to the Bank of Canada. We can cut everything and it still will not be enough to pay the interest. Interestingly the State of North Dakota has its own Bank and is completely debt free, as was Libya before we supported the rape of that country by the IMF.

Although the concern about private debt is valid, the comparison of Federal Debt to the debt of a household is a great mistake. Households don't have a "central bank" where debt can go to die. Don't forget that interest paid to the BoC on bond holdings is remunerated (minus administrative fees) to the Federal Gov't. The Chartalists have been trying to point this fact out since the 1920s, but STILL we have this delusion about the nature of Debt in matters of Monetary & Fiscal Policy. So watch this video with a large grain of salt...and don't swallow it whole

Great to see that CPAC is archiving past political media. Too bad that information is extremely misleading and does not even begin to explain how Canada's fiscal and monetary policy apparatus actually works. Canadians can revisit the propaganda of the past, but they will be none the wiser today than they were in the 80's and 90's.