Moody’s downgrades credit ratings of Canada’s Big Six banks

Discussion in 'Canada' started by shockedcanadian, May 11, 2017.

  1. shockedcanadian
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    shockedcanadian Platinum Member

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    State-run financial markets in Canada taking a hit. The result of extreme interference and communist tactics. Yes, they tell the world these are privately owned businesses with shareholders. Rest assured, they have massive government operations within these banks, including in leadership and executive ranks. A clear violation of NAFTA but Canada doesn't care as long as they maintain their false free market pretext.

    As Trump looks to release U.S banks from burdensome regulations and barriers, Canada continues to run shadow government activities in our banks and violate citizens freedom for economic futures.

    Trump has to hit the Canadian economy hard with NAFTA and force Canada to become a legitimate capitalist system. One of the best comments I ever read came from an American on Fox comments section regarding NAFTA, "capitalist countries should not have free trade agreement with socialist countries". This is absolutely correct, it's an apples to oranges system comparison.

    Moody's downgrades credit ratings of Canada's Big Six banks

    Moody’s Investors Service downgraded the credit ratings of the Big Six banks late Wednesday reflecting “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.”

    This downgrade was prompted by weakening credit conditions in Canada, led by a surge in household debt, Moodys said, noting it was now at a record high of 167.3 per cent of disposable income, as of the fourth-quarter of 2016.

    The ratings’ agency lowered the baseline credit assessments, long-term ratings of Toronto-Dominion Bank, Bank of Montreal, Bank of Nova Scotia, Canadian Imperial Bank of Commerce, National Bank of Canada and Royal Bank of Canada, and their affiliates, by one notch, it said.

    The counterparty risk assessments were also downgraded for five of those banks, except for Toronto-Dominion.

    “Expanding levels of private-sector debt could weaken asset quality in the future,” said David Beattie, a Moody’s senior vice president, in a statement. “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.”
     
  2. feduptaxpayer
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    feduptaxpayer Gold Member

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    Canada is one big downgrade. We lack a leader in this country. We need a leader like Trump to maybe get our grades back up there where they should be. But because of the present day bunch of politically correct far left liberal politicians that we have now will never do it for us. We the people need to drain the far left liberal swamp.
     
  3. shockedcanadian
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    shockedcanadian Platinum Member

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    It doesn't matter who leads, the system is set to fail and ruin individual liberty and accomplishment. Clearly we are not meant for global competition. We are a former socialist, neo-communist state, bound to fail as the world becomes smaller.

    Primarily we lack an accountable system that holds our security apparatus and police to account. We have stabbed every ally in the back, not to mention spit on liberty of our own citizens, there's nowhere to go but down. We are already headed towards a drop of three places in global economic rankings in two years, even more in the few years that follow.

    You can't blame me, I blew the whistle on the abuses. It cost my wife and I dearly. Now I do all I can to make sure our European and American partners know the facts and the risks in dealing with a nation that backstabs.
     
  4. feduptaxpayer
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    feduptaxpayer Gold Member

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    In Canada we appear to have politically correct politicians who are being dangled around on puppet controlled elite and globalist strings, and a fake and phony liberal media that feeds the Canadian people with globalist elitist garbage chit that they want them to hear and believe in. We need a leader like Trump otherwise Canada will never go anywhere in life but down. We will all have to still live in the world of the zog, and their lies and deceit. Blowing the whistle can be a very dangerous thing for anyone to do. The system is too corrupt to allow anyone to try and drain that swamp of corruption an bribery.
     

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