we arent that great, our debt problem still hass the same cause, we borrow our money when we could print it ourselves. why does a country with the power to print its own money, borrow it at interest, to the point of near bankruptcy.... we had 18 billion dollars of national debt for 40 years, the introduction of welfare and social security didnt change that, then the banks decided it wasnt fair we created our own money,
I'm a Canadian. Cenk is 100% wrong. At present, Canadians are carrying more household debt than Americans were in 2008. Canadian banks are NOT safe, they are INDEED overlevered, and we are facing a massive crash just the same. The only issue is one of TIMING. We lag behind the US, and our "commuppance" is almost at hand.
@bydesignrock Its true we carry more debt, but when you factor in assets, Canadians have a higher average net worth than Americans. There is also zero sign that Canadian banks are going to crash.
But hey, if you think the sky is falling, then take your money out of the bank if you haven't already done so.
Great video, it's a shame that he started fighting people who stand for sound money and ethical practices ever since he joined Al Gore and his swindlers.
Boycott Cenk folks, do not donate to this numb skull till he reforms his ways and offers a public apology to Ron Paul and others he offended for money.
In Canada banks can't own insurance companies and insurance companies can't own banks, then they can't lie and rate their own bad debts and sell them off as a good risk. You can't get a mortgage here unless you can prove you can make the payments.
lowered interest rates for home buyers! 2.99 percent! i looked at my man and laughed! wow they are gonna let everyone buy homes at this rate and jack it up like in the states! and we will begin kicking people out of there homes! wicked wicked people controlling our world.not just the usa or canada!
@juniorkitty11 It doesn't work that way here. They can lock in to that rate at 2.99%, then renegotiate after the 5 years. They can't just jack the rate up before that, like they did to people in the States. In addition, in Canada, you have to meet certain criteria to get a mortgage, regardless of the interest rate. That is why A. Our housing market didn't collapse and B. You don't see the forclosures here like in the States. Btw, the banks don't control the prime lending rate.
@MadHabber93 yeah i was talking to my man about that..hes the mortgage one lol..he was say'n the same we have to be approved at the org interest rate ( say 6.1) but only pay the 2.99.that way we dont get jacked so bad..but when your 5 years is up and you have to renegotiate, then you still may lose your home if you cant qualify for the new amount..so not as bad..but still bad...and no we have'nt seen forclosures like them but im wondering if we will?! hard to say whats next
lol at all the americans scrambling to defend a corrupt system, spinning numbers with IFs and WHENs... still doesnt change that Canada never had to bail out banks with 700 billion of tax money.Funny how these bail-outs happened in a capitalist system but not in a "socialist" oriented one, which is often referred to as a "hand-out system" by americans.
Well we Canadians must be doing something right cause even the Swiss came to us offering to form a banking defense strategy between our 2 countries , just Canada and Switzerland no one else is invited , but don't worry America when dollar collapses and you go bankrupt from all the larceny and fraud going on in Wall St we will come down and buy you out pennies on the dollar , like maybe 1 penny,then you can work for us and we will give you free healthcare.
@fkthewaat you got it! we have more land then the states but the states have wayyyyyyyyyyyyyy more people! thats why we see the same things happen'n here but we get to see the states go through it first.then we know we are next..you know what they r doing here now! lowered interest rates
Americans should just put their money in Canadian banks. Everything is done via the internet now anyway. Do it! I want to see the American bankers cry. :)
Thats bullshit !! banks in canada have less regulation. Therefore the banks are much more careful with the money they loan out thats why they where less affected, not cause of regulation!! The banks know that if they fuck up the government won't bailed them out. The canadian bank act states that bank need NO RESERVE AT ALL when they give out loans. Do your fkn research !!!!!
BULLSHIT....lmfao you can buy a crack shack aptment for 300k! vancouver is one of the most expensive places to buy like fort mcmurray your not getting shit for 300k! we cant believe how cheap homes are in the USA! you have no clue what your talking about..your gov took ours down with it..we maybe better off then usa but hey we always were when it came to having some rights..and health care! lmao i feel sad for the true american who are getting screwed by your gov and others..wake up neighbour
1. Goldman Sachs try to issue Islamic Bonds ( Sukuk ). The issue was not approved because the bond's structure is fraudulent & does not meet the Shariah's standards.
Canada’s five largest banks are leveraged 19 times on average, with the largest bank, Royal Bank of Canada, 23 times leveraged. JP Morgan was 13 times leveraged at the end of 2008, and Wells Fargo was 11 times leveraged. What makes Canadian banks safer? guarantees provided by the government of Canada.
1/2 of Canadian mortgages are guaranteed by the gov, with banks paying a low price to insure the mortgages.....
@LikableDesi Virtually all mortgages where the loan to value ratio is greater than 80% are guaranteed indirectly or directly by the CMHC (i.e., the government takes the risk of the riskiest assets – nice deal if you can get it). The system works well for banks; they originate mortgages, then pass on the risk to government agencies. The US, of course, had Fannie and Freddie, but lending standards slipped and those agencies could not resist a plunge into assets more risky than prime mortgages.
@LikableDesi Canada resisted that temptation by the camaraderie between the regulators, the Bank of Canada, and the individual banks. This oligopoly means banks can make profits in rough times – they can charge higher prices to customers and can raise funds more cheaply, in part due to the knowledge that no politician would dare bankrupt them.
Canadian banks are just as evil as American banks. It's just bad in a different way. Regulation and planned economics in banking is good but the banks in Canada (RBC, BMO, Scotiabank, etc) are hardened private monopolies. If they decide to screw you then that's it. You're screwed.
are banking system is fuck hear in Canada to. banks are making money off of money that dosent even exist causing inflation the worst is yet to come frig its like 5 bucks for a bag of chips now.
Cenk, Your vid gives a good and brief explaination of why the Canadian banking system is better and stronger than the US'. Also, Canadian customers trading through MF Global's Canadian subsidiary, MF Global Canada, were able to get 100% of their money back by the end of Nov. 2011. Where as the MF Global Bankruptcy mess still continues in the U.S. This is because of CIPF (Canadian Investors Protection Fund), which is the Canadian equivalent to the U.S.'s SIPC. But, the CIPF is a lot better.
While we do have a superior banking system, our banks also did get bailouts/loans to the tune of 5billion to maintain fluidity being the reason put forth by the government. Also at a time when our banks are being quite profitable, our gov gives them a 20% tax break which is absurd in the midst of a recession.
If you want to see when we were doing it even better than now look up the history of the Bank of Canada and how it was used to finance gov plus the tax policies of the early 60's.
It's also worth remembering that a major reason -why- Canada has the regulations it does is -because- we had a very similar blow up back in the 60's & 70's. It's not that we're necessarily any smarter than anyone else on the planet, it's just that we'd already been down this road; though with less actual corporate control of our government at the time. Might be why they were able to get those rules in place after the fact.
Canada privatized the Bank of Canada in 2003, taking power away from the people and giving it to the big banks of Canada. It just means the Canadian people have been screwed harder than the Americans in order to keep the banks afloat. Frivolous mortgage rates with compounded interest. The Canadian system is not better by any means.
@OPandroids - It isn't Obama's fault that our PM is an idiot. Blame the Conservatives in Canada for that. Obama is just looking out for the people that elected him, as should our leaders don't you think?
@TheInternetWanderer Dude the US runs out PM in 2008 Harper promised them a copy right reform because the US hated that we could pirate movies and like a puppet he did it.
@AestusL4. I agree canadian banks are not as healthy as people think. They did have money injections since the Lehman collapse. They did receive funds from the US Federal Reserve under Tarp. There is far too much romanticizing about Canadian banks.
This is incorrect as Canadian banks ALL have a TCE (Tangible Common Equity) of less 4%.....yes 4%. With the exception of BMO which comes in at 4.15%. The difference is Canada subsidizes it's banks via the CMHC, Genworth, etc...! Really it's a form of an austerity measure! The Canadian banksters have also used creative accounting practices to mask losses that will eventually come to roost.
Also how many dollars of currency need to be created to generate a dollar of GDP growth? Any takers?
@TheHybridSlinky Finally a logical remark. Also Chenk is mostly referring to the events that lead to the crash, ignoring the credit crunch, but forgetting to mention what inflated the bubble in the first place. Cheap, easy money and regulation that encouraged lenders to over leverage.
Canada's real estate bubble hasn't popped yet because we didnt have a credit crunch yet. in fact with savings as low as they are, we shouldnt have 2.75%.
@MrAwesomesauce101-I was getting my hair done and someone who worked at a bank came in and talked to my stylist for a sec. When my stylist asked him "hey a lotta ppl left the bank" he said "ahhh who cares its just ppl with less than $500 anyway". Uhm...it adds up. I've been with my credit union for 6 years and ppl are just now understanding the benefits. But the banks are not caring. They should if they have to charge $5 a month for a debit fee.
the truth of the matter is we actually get educated in math..you know ...all them % ages and pesky numbers...our youth knows credit cards are a nono...I have never had credit nor would I ever agree to pay up to %30 more fo anything ever!!!
Canadian banks lend and lend and give two shits if you can actually afford it. They base their lending on GROSS income, instead of net. (TDSR vs. DTI) TDSR does not include things like food, water, gas, clothing, KIDS, cell phone, maintenance etc! The canadian government also taxes your income RETARDEDLY before taxing sales RETARDEDLY! and they thought we had FREE health care? Canadian Gov't advises TDSR to be 35% while the banks advance to 50% and beyond!!!
I really liked TYT before this vid... The more way compare the lessor of evils...the more we'll be distracted from what is RIGHT. This is how "Democracy" has worked in favour of the rich for so long, keep choosing between the choices they give you, and you'll always have a dick in your ass or mouth.
Steven Harper has made all the changes to make canada more like the US. Bank bailout, Billions on prisons, Billions on Jets, Billions to wealthy corporations for stimulus!!!
this guy just said the "RIGHT SYSTEM"???? are you fucking kidding? we're still on a shithole monetary system where inequality reigns supreme. Canada suffers from tyranny just the same.
ALSO!!! OF the jobs "RECOVERED" most of them are PART TIME!!! the jobs are complete shit!!! hired through TEMP agencies where employees work a probationary period on contract without benefits, good pay, and a surcharge to the temp agency.
Canada is not IMMUNE!!! We had a 70Billion Dollar bank bailout of our own!!! that bailout was used to buy out mortgage debt with the people's money but the people don't hold the deeds on their houses... the banks still do. JUST LIKE THE US!!!!
i dunno wtf this guy is talking about saying canadas recovered most of its jobs... theres hardly any jobs here at all. general labour, manufacturing, steel industry, all dead. ive been out of work for a year and its only going to get worse
Um, I know this was done over a year ago, but you might wanna update it with accurate information regarding Canada's financial practices. Try this search on youtube for the real story. "occupy toronto economics 101" It's the first result from Jim Stanford, who holds a PhD in economics.
Btw, whoever did the captioning for this video, really screwed it up!
ALL YOU AMERICANS GOTTA FUCKIN DO SOMETHIN WE GOT PEOPLE OCCUPYIN OVER HERE FOR YOU AN YOU GUYS SYSTEM IS DEBASEING THE WORLD ! sorry but shit son. AMERICANS CAN DO IT WE KNOW YOU CAN!, ITS WHATS RIGHT FOR HUMANITY.
Cenk is spot on, I've said it a thousand times before. Australia has the same kind of regulations as Canada and we avoided a recession too. The real estate market was unaffected, and unemployment stayed about the same at 5%. Except I dont blame the banks, I blame the republicans and their anti-regulation mantra. The banks in Canada and Australia are still powerful, and still give money to political parties, but we dont have the same anti-government, anti-regulation mentality they have in the US
Lied too, Tricked, Fooled!, Manipulated!!. 80% of the world poulation is in willful Denial or is UNAWARE of this ''illuminati'' Well, They Own the entire World EconomyEducation/Job system, Food Fabrication, Healthcare system, Religions, Goverments, Politics, The Media, and many more Big Companies Who are Subliminal in 'Controll of our lives'. Watch all the video's i've added to my favourites. We're all in this Together and Together WE CAN RISE AGAINST CORUPTION!!
Canada DOES allow repackaging of mortgages, we just have lots of regulations on giving mortgages. The rule of mtgs in Canada is that if you can't afford it, you can't get it. Seems pretty sensible to me.
@AestusL4 In Canada it is very easy to get a mortgage with only 5% down. In fact in many areas "Oklahoma Deals" are the norm, where real estate agents intentionally fudge the paperwork so clients can buy with no money down.
The average home price in Toronto is approx. $478K.
For Vancouver it is $792K.
For Calgary it is $405K.
You get the idea. Many of these properties have been purchased with little or no down. The Canadian banks many not be as healthy as many think.
@ElixirPolyweb Everything you said is true. But If you cannot put 20% down on the property you are required to buy CMHC insurance to insure the banks from a failed mortgage. CMHC are sticklers to handing out credit w/o capacity. Many times I had to tell people, who I thought could afford the mortgage, that CMHC wouldn't approve them. If your TDS (Total Debt Service Ratio) is over 41% you can't have any black marks on bureau. If it's over 42% they will NOT approve the mortgage.
@AestusL4 There lies the problem. Banks should NEVER be insured against a potential default by a Crown corporation. That is taxpayer money that is, as Elixir stated correctly, A SUBSIDY! Banks, that have the benefit of being able to create money out of thin air, should have the same risk as the homeowner. No bailouts!
CMHC was created to address the housing shortage after WW II. Banksters hijacked the CMHC & little to no money down mortgages are the norm as the banks have very little risk.
@pikeasaurusrex But you're forgetting the most important part of CMHC. If there is <20% down, the banks don't make the final decision on approving the mortgage. The insurance company CMHC/Gemco has the final decision, and they're not going to want to approve a loan that is likely to fail.
Subsidy's in an of them selves are not bad. It's as you said, the carrying of risk. Since CMHC holds the risk, they have the final decision on mortgage approvals. Therefor, sub-prime mortgages would not exist.
@AestusL4 Actually subsidizing banks is never prudent. It is corporate welfare for corporate freeloaders. The free market is always the most efficient way for capital to flow.
What I find astounding is that anyone can defend the banking system when Canadian banks have received $78 billion dollars in "bailout funds" so far. RBC Capital Markets received billions TARP money.
The combination of banks & intermediaries have no risk. Canada continues to be an easy place to acquire a mortgage!
@ElixirPolyweb I don't know where the heck you are getting your information from. I live in Vancouver and I can tell you for a fact that the average home price for a normal house is NOT 792k, it's around 300k and you DO need 10% down, and your debt ratio IS taken seriously. I've bought and sold 4 houses, so I know what I'm talking about. Please don't distort the facts.
@604Andrea Sorry Andrea but you're full of crap! Show us all the listings of 300K homes in Vancouver. I'll buy them on the spot regardless of their condition! What a load of garbage!
@pikeasaurusrex Apparently there's no telling you anything, so I don't plan to. If you're interested in real estate in Vancouver check the real estate listing yourself. I guess you think this TYT video is BS as well. Your feelings are hurt because Canada's economy is strong and our banking system is in tact, I can't help you with that. Remember I said a normal house, not some bloody 5 bedroom home on the north shore built to attract overseas buyers.
@604Andrea Where the hell can you get a house in Vancouver for $300K! Do a search on MLS.ca for single residential houses in Vancouver. Two results came in....a boat house....and a shack on the reserve....both don't count & do not reflect housing prices in Vancouver. You might get a single detached shack somewhere in Surrey but that doesn't count either!
Ontario lost over 75K full time jobs in October and Toronto plans to lay off over 2K public employees!
@TheHybridSlinky To be honest Toronto should lay those people off. When it amalgamated instead of trimming the number of jobs or staying the same, it increased by 8000. 1 manager for every 6 employees in the Public Sector. Thats a huuuuuuge problem. Our economy is not "healthy" but we are doing a lot better than the US and other places.
@SuperVancouverBC chilliwack is in the fraser valley, thats not pat of the vancouver market. vancouver is the most expensive market in canada, toronto is close to vancouver prices, but not ahead
The bank of Canada isn't doing it's job, major private banks issue 95% of CDN currency at interest much like the Federal reserve in the USA. Go to a credit union and abandon the major banks they are crooks
Banks own the politicians in Canada same as in the US, true we had better regulation. But the Canadian government backstops every mortgage Canada with the Canadian Mortgage and Housing Corporation, so banks write the mortages but tax payers back then up, win win for the banks.
As for our national debt it's balooned back up to over 550 billion, oh and for private debt, Canadians are in more debt than our cousins to the south.
@kgdies Our private debt might be more, but our net worth is more. That private debt calculation does not include assets. I've never been more in debt to the banks, due to investments,etc. yet my net worth has never been higher.
True our debt has gone back up to 550 Billion, but that is still a 33% debt to GDP ratio making us the lowest in the G8. Don't get me wrong, that needs to come down, but our recent increase has far more to do with 2008 recession than our own doing.
@MadHabber93 it will be funny once people realize a house in Burnaby isn't worth a million dollars. that is when the SHTF...The USA is where the smart money is going when it comes to real estate - people who buy there now will look like geniuses in 10 years. If you look historically, our real estate bubbles get popped 2-3 years after the US, so we are so close to a correction.
@zeusvalentine It 'could' it the fan is some cities, but they've been saying we are heading for a bubble for 3 years now. I agree, smart money is U.S. real estate. But it only makes sense since many markets are half of they used to be.
Well all I can say is that CMHC insures roughly a $ Trillion of canadian mortgages 2009 numbers.
If you do an reasearch you'll discover it's almost imposible to find any current stats. from our government or its agencies, I wonder why that is? LMAO
@kgdies Also, mortgage borrowers pay a premium to CMHC towards the mortgage insurance. That's where the money comes from not from taxpayers. Foreclosure sales in Canada are @ close to market price not like in the US where they are fire sales @ 50% off so banks only needs a small insurance payout if some deadbeat default. And keep in mind that bankruptcy laws in Canada are a lot less friendly than in the US thus discourages people from just walking away from mortgages.
@kgdies That said, if the RE market tanks by 30% nationwide the banks will probably be asking the governement for emergency loans which you and i will have to pay in the form of inflation.
@kgdies The Bank of Canada doesn't do it's job since the 30s, Canada is under control of Major private banks just as the US is controlled by the federal reserve bank. My parents aren't even aware of whats going on they think The Bank of Canada is a valid institution but its just a front now.
@Da1UHideFrom How?? Because you have nukes?? Canada, years ago, made the decision not to have nukes. I always love these bullshit predictions based on nothing.
Unless you physically came to our defence, which you never have, then what ifs means nothing.
@MadHabber93 I didn't say because we have nukes. You forget that during the cold war the USSR's foreign policy was to spread communism to EVERY country in the world. Canada would have been easy for the Soviet Union to invade. But they didn't of Canada's close ties and proximity to the US. If you didn't live in the shadow of a superpower Canada would have seen alot more war. We haven't came to your defense because you haven't needed it yet.
@MadHabber93 1st western Europe didn't fall to communism because of NATO. 2nd Canada hasn't been in any major war since WWII nor has it been attacked by any foreign power, so no you haven't had a need to actively defend yourself.
@Da1UHideFrom Nato, which Canada is part of, did not physically come to western Europe's defence against the Soviet Union.
Canada was in no war since WWII?? Try the Korean War, Desert Storm and Afghanistan. And for Afghanistan, one could argue we came to your defence since Canada was not attacked on 9/11.
And I also realize, if Canada was attacked, the U.S. would be there. But it would and has worked vice versa.
@MadHabber93 NATO's very existence stop the Soviet Union. And for Korea, Desert Storm, and Afghanistan all those conflicts were US-led. It's easy to judge and criticize when your on the outside looking in, but your country has not been in the leadership position once.
@Da1UHideFrom It doesn't matter that it was U.S. led, you said Canada has not been to War since WWII, which is false.
And we are a small country with a small force, why the hell would we be the overall leaders?? Having said that, look at Canada's role in Afghanistan and Libya. The Nato Mission was led by a Canadian, with Canada doing MORE than the U.S. WHich is a good thing. The U.S. wasn't in a position to do it this time. Its time other NATO countries stepped up.
That's why the 'Occupy' movement hasn't spread here, things are pretty good for everyone. Not perfect, but not crazy like some places to the south of us...ahem!
@martinimix79 I follow a lot of different blogs, mostly American, and I am going to copy/paste your comment and use it. I'm also Canadian, and you pretty much summed up what needs to be said. Americans want a libertarian lifestyle, which means one never cooperates with anyone else - ever. The American dream is to go it alone, to stock up on food and guns and place sandbags around one's house, and get health insurance thru their church. It's insanity.
I have family in the US and I live in Canada. We do have a better banking system. Things are instant here.. I can transfer my money from my chequing/savings/line of credit in real time, the only exception Visa/MC (US system). I can even buy stock within seconds with of making a transfer within the same financial institution.
We subsidize the entire world's defense, and add some offense, and our government services are being ripped off.. a recipe for disaster. How can u fight a war without raising taxes? print. bubble. implode.
@mcbowler Ron Paul is okay but he doesn't believe in public health care and (for some ungodly reason) puts a lot of faith in charity (which is unreliable).
We subsidize the entire world's defense, and add some offense, and our government services are being ripped off.. a recipe for disaster. How can u fight a war without raising taxes? print. bubble. implode.
Wow .It's not to often I here someone from the US.talk about Canadian systems in such a positive way so thank you. You should also have universal healthcare as well because it's cheaper and no matter what you here we have much better access.I wish that had worked down there but I'm afraid it is doomed to fail.Private Insurance won the propaganda war. Universal medicine is Not the forced purchasing of private ins.That is just wrong
@holmesbinton shut up, every time someone credits another country for doing something right, there some ignorant fuck that says ,WELL WHY DONT YA MOVE THERE THEN
@coopmuch56, Well Maybe I love my Country the Way it is! The True Gem of the World! The Beautiful Striped Banner! Maybe Everyone should Migrate Somewhere Else! How about You go to another Country and tell them to Change! Lets time How long you won't get your Head Lopped off your Shoulders! Liberal Traitor! People Died to Keep the US the Way it is! Please, Go Fuck yourself. People like you make me want to Cry.
He says "I mean some banks were just on the books let alone off the books" The subtitles say "I mean some banks war it just on the books a little off the books". OK I am getting angry now. Who the hell are they hiring to do this? Get your money back,
He says "The size isn't necessarily the problem" but the subtitles say "The size is that necessarily probably", like WTF! I just want to smack whoever wrote these.
I hate how all the subtitles in The Young Videos are always wrong, it's so annoying. He clearly says "This is very important" , but the subtitles say "This is very poor" Lol. I notice multiple errors every time I watch one of these videos and it really grinds my gears.
In Canada, we basically bailed out our debt-addicted consumers instead.
graemeEf1 11 hours ago
we arent that great, our debt problem still hass the same cause, we borrow our money when we could print it ourselves. why does a country with the power to print its own money, borrow it at interest, to the point of near bankruptcy.... we had 18 billion dollars of national debt for 40 years, the introduction of welfare and social security didnt change that, then the banks decided it wasnt fair we created our own money,
SiKMyTh 1 week ago
I miss the old TYT dungeon
bolozbolozboloz 2 weeks ago
We rule.
NormacHC 2 weeks ago
who the fuck did the subtitle?
mouseking3t20 3 weeks ago
I'm a Canadian. Cenk is 100% wrong. At present, Canadians are carrying more household debt than Americans were in 2008. Canadian banks are NOT safe, they are INDEED overlevered, and we are facing a massive crash just the same. The only issue is one of TIMING. We lag behind the US, and our "commuppance" is almost at hand.
bydesignrock 3 weeks ago
@bydesignrock Its true we carry more debt, but when you factor in assets, Canadians have a higher average net worth than Americans. There is also zero sign that Canadian banks are going to crash.
But hey, if you think the sky is falling, then take your money out of the bank if you haven't already done so.
MadHabber93 3 weeks ago
Great video, it's a shame that he started fighting people who stand for sound money and ethical practices ever since he joined Al Gore and his swindlers.
Boycott Cenk folks, do not donate to this numb skull till he reforms his ways and offers a public apology to Ron Paul and others he offended for money.
1cyanideghost 3 weeks ago
Interestingly enough, Harper took almost all credit for Canada coming out of the recession so well... when really he didn't do anything.
Moreover he actually voted against many of the regulatory rules in place when they were proposed. He's a joke. (great video though :)
InfiniteMomentStudio 3 weeks ago
We pay about 160 millions a day for the Debt System here in Canada too.
And btw, the Royal Bank of Canada is gonna be in control of the great American banks soon.
911SMOM 3 weeks ago
very well put, I always enjoy your insight and ability get a point across
987Saskatoon 1 month ago
all thats about to change
81PARADIS81 1 month ago
In Canada banks can't own insurance companies and insurance companies can't own banks, then they can't lie and rate their own bad debts and sell them off as a good risk. You can't get a mortgage here unless you can prove you can make the payments.
TheNevan60 1 month ago
Mortgage backed securities FTW
danbeb 1 month ago
debt wise we are not better off. Our national dept will soon consume us and the bankers will walk rich.
callmecg101 1 month ago
It's a perfect example of why Republicans are wrong on less regulation or no regulation at all.
Phantus00 1 month ago
sorry, tehyve already recovered?? you dont know jack shit buddy. this video is totally wrong, the unemployment rate here is bad and theres no jobs.
MrToiletface 1 month ago
The whole concept of a bank is wrong. They should just be eliminated. It's a racket.
webfulfill 1 month ago
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@calisse245 You're an idiot. There is no free market today, nor has there been.
Governments have regulated markets for thousands of years everywhere...
..and when they deregulate big-business collusion, price fixing, and division of markets occurred
You live in an almost communist utopia dreamland
Joseph565112 1 month ago
lowered interest rates for home buyers! 2.99 percent! i looked at my man and laughed! wow they are gonna let everyone buy homes at this rate and jack it up like in the states! and we will begin kicking people out of there homes! wicked wicked people controlling our world.not just the usa or canada!
juniorkitty11 1 month ago
@juniorkitty11 It doesn't work that way here. They can lock in to that rate at 2.99%, then renegotiate after the 5 years. They can't just jack the rate up before that, like they did to people in the States. In addition, in Canada, you have to meet certain criteria to get a mortgage, regardless of the interest rate. That is why A. Our housing market didn't collapse and B. You don't see the forclosures here like in the States. Btw, the banks don't control the prime lending rate.
MadHabber93 1 month ago
@MadHabber93 yeah i was talking to my man about that..hes the mortgage one lol..he was say'n the same we have to be approved at the org interest rate ( say 6.1) but only pay the 2.99.that way we dont get jacked so bad..but when your 5 years is up and you have to renegotiate, then you still may lose your home if you cant qualify for the new amount..so not as bad..but still bad...and no we have'nt seen forclosures like them but im wondering if we will?! hard to say whats next
juniorkitty11 1 month ago
lol at all the americans scrambling to defend a corrupt system, spinning numbers with IFs and WHENs... still doesnt change that Canada never had to bail out banks with 700 billion of tax money.Funny how these bail-outs happened in a capitalist system but not in a "socialist" oriented one, which is often referred to as a "hand-out system" by americans.
Ignorant fucks.
syntaxed2 1 month ago 7
yay Canada!
genghisdon1 1 month ago
President Ron Paul..........the world is waiting for you
Twicebakedtaters 2 months ago
Yeah, there is a right way to do this...... Join a credit union. That takes the power away.
Twicebakedtaters 2 months ago
yeah the right answer is- move to Canada. *shocking*
MadnessOccurs 2 months ago
The banks in general do not have to be carefully If the thing goes wrong the goverment comes and bail them out.
What about small business?
Jacintobajoflores 2 months ago
Well we Canadians must be doing something right cause even the Swiss came to us offering to form a banking defense strategy between our 2 countries , just Canada and Switzerland no one else is invited , but don't worry America when dollar collapses and you go bankrupt from all the larceny and fraud going on in Wall St we will come down and buy you out pennies on the dollar , like maybe 1 penny,then you can work for us and we will give you free healthcare.
Harbringe 2 months ago 2
@Harbringe hmm..... why cant anyone realise that the USA has a bigger (not better) economy then canada..
fkthewaat 1 month ago
@fkthewaat you got it! we have more land then the states but the states have wayyyyyyyyyyyyyy more people! thats why we see the same things happen'n here but we get to see the states go through it first.then we know we are next..you know what they r doing here now! lowered interest rates
juniorkitty11 1 month ago
Americans should just put their money in Canadian banks. Everything is done via the internet now anyway. Do it! I want to see the American bankers cry. :)
cloudstone123 2 months ago
youngturds sucks dick
outherree 2 months ago
Thats bullshit !! banks in canada have less regulation. Therefore the banks are much more careful with the money they loan out thats why they where less affected, not cause of regulation!! The banks know that if they fuck up the government won't bailed them out. The canadian bank act states that bank need NO RESERVE AT ALL when they give out loans. Do your fkn research !!!!!
Zokshao31 2 months ago
Average Republican: HUUNNNGRRR FREE MARKET GUD GOVURNMENT BAD THEY CAUSE ALL THE PROBLEMS
Way to go America. Let's trust the banks! They just want what's best for us!
sync380 2 months ago
BULLSHIT....lmfao you can buy a crack shack aptment for 300k! vancouver is one of the most expensive places to buy like fort mcmurray your not getting shit for 300k! we cant believe how cheap homes are in the USA! you have no clue what your talking about..your gov took ours down with it..we maybe better off then usa but hey we always were when it came to having some rights..and health care! lmao i feel sad for the true american who are getting screwed by your gov and others..wake up neighbour
juniorkitty11 2 months ago
2 party systems are ass
YiuTeub 2 months ago
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Goldman Sachs & Islamic Bond
1. Goldman Sachs try to issue Islamic Bonds ( Sukuk ). The issue was not approved because the bond's structure is fraudulent & does not meet the Shariah's standards.
2. Reference :
Businessweek - December 21, 2011
Bloomberg - December 21,2011
3. Goldman Sachs CEO, Lyold Blankfein is Jew
Stevie68000 2 months ago
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Hey I have a show very similar to The Young Turks. Check it out.
TheThirdHour 2 months ago
Canada’s five largest banks are leveraged 19 times on average, with the largest bank, Royal Bank of Canada, 23 times leveraged. JP Morgan was 13 times leveraged at the end of 2008, and Wells Fargo was 11 times leveraged. What makes Canadian banks safer? guarantees provided by the government of Canada.
1/2 of Canadian mortgages are guaranteed by the gov, with banks paying a low price to insure the mortgages.....
LikableDesi 2 months ago
@LikableDesi Virtually all mortgages where the loan to value ratio is greater than 80% are guaranteed indirectly or directly by the CMHC (i.e., the government takes the risk of the riskiest assets – nice deal if you can get it). The system works well for banks; they originate mortgages, then pass on the risk to government agencies. The US, of course, had Fannie and Freddie, but lending standards slipped and those agencies could not resist a plunge into assets more risky than prime mortgages.
LikableDesi 2 months ago
@LikableDesi Canada resisted that temptation by the camaraderie between the regulators, the Bank of Canada, and the individual banks. This oligopoly means banks can make profits in rough times – they can charge higher prices to customers and can raise funds more cheaply, in part due to the knowledge that no politician would dare bankrupt them.
LikableDesi 2 months ago
Canadian banks are just as evil as American banks. It's just bad in a different way. Regulation and planned economics in banking is good but the banks in Canada (RBC, BMO, Scotiabank, etc) are hardened private monopolies. If they decide to screw you then that's it. You're screwed.
But yeah, it is better in comparison.
7graywolf7 2 months ago
are banking system is fuck hear in Canada to. banks are making money off of money that dosent even exist causing inflation the worst is yet to come frig its like 5 bucks for a bag of chips now.
cartercarter1 2 months ago
@cartercarter1 5$? Where the fuck do you live? Iqualit? It's like 2-3$ for a large bag at Sobeys and even less at local stores :S
BigManInCanada 2 months ago
@BigManInCanada i think he means in vancouver :) i cant even but a bag of ruffles for less than $4.00
SuperVancouverBC 1 month ago
Cenk, Your vid gives a good and brief explaination of why the Canadian banking system is better and stronger than the US'. Also, Canadian customers trading through MF Global's Canadian subsidiary, MF Global Canada, were able to get 100% of their money back by the end of Nov. 2011. Where as the MF Global Bankruptcy mess still continues in the U.S. This is because of CIPF (Canadian Investors Protection Fund), which is the Canadian equivalent to the U.S.'s SIPC. But, the CIPF is a lot better.
earl528 2 months ago
While we do have a superior banking system, our banks also did get bailouts/loans to the tune of 5billion to maintain fluidity being the reason put forth by the government. Also at a time when our banks are being quite profitable, our gov gives them a 20% tax break which is absurd in the midst of a recession.
If you want to see when we were doing it even better than now look up the history of the Bank of Canada and how it was used to finance gov plus the tax policies of the early 60's.
daemonnice 2 months ago
It's also worth remembering that a major reason -why- Canada has the regulations it does is -because- we had a very similar blow up back in the 60's & 70's. It's not that we're necessarily any smarter than anyone else on the planet, it's just that we'd already been down this road; though with less actual corporate control of our government at the time. Might be why they were able to get those rules in place after the fact.
Muljinn 2 months ago
Canada privatized the Bank of Canada in 2003, taking power away from the people and giving it to the big banks of Canada. It just means the Canadian people have been screwed harder than the Americans in order to keep the banks afloat. Frivolous mortgage rates with compounded interest. The Canadian system is not better by any means.
jordach545 3 months ago 2
@jordach545 And that's why Canada's economy is 10 times better than the US's, right ?
HiImAFarrell 3 months ago
@HiImAFarrell Canadas banks are ten times better, not the people investing in them.
jordach545 1 month ago
Canada gone to shit because of our pm that has no balls and can't stand up for his country and gets on his knee for that piece of shit obama.
OPandroids 3 months ago 2
@OPandroids - It isn't Obama's fault that our PM is an idiot. Blame the Conservatives in Canada for that. Obama is just looking out for the people that elected him, as should our leaders don't you think?
TheInternetWanderer 3 months ago
@TheInternetWanderer Dude the US runs out PM in 2008 Harper promised them a copy right reform because the US hated that we could pirate movies and like a puppet he did it.
OPandroids 3 months ago
@OPandroids - As I said, blame Canada's politicians for having no spine.
TheInternetWanderer 3 months ago
@AestusL4. I agree canadian banks are not as healthy as people think. They did have money injections since the Lehman collapse. They did receive funds from the US Federal Reserve under Tarp. There is far too much romanticizing about Canadian banks.
zeropointpower 3 months ago 3
This is incorrect as Canadian banks ALL have a TCE (Tangible Common Equity) of less 4%.....yes 4%. With the exception of BMO which comes in at 4.15%. The difference is Canada subsidizes it's banks via the CMHC, Genworth, etc...! Really it's a form of an austerity measure! The Canadian banksters have also used creative accounting practices to mask losses that will eventually come to roost.
Also how many dollars of currency need to be created to generate a dollar of GDP growth? Any takers?
TheHybridSlinky 3 months ago 9
@TheHybridSlinky But the free health care balances that out, doesn't it?
TokkerProductions 2 months ago
@TheHybridSlinky Finally a logical remark. Also Chenk is mostly referring to the events that lead to the crash, ignoring the credit crunch, but forgetting to mention what inflated the bubble in the first place. Cheap, easy money and regulation that encouraged lenders to over leverage.
Canada's real estate bubble hasn't popped yet because we didnt have a credit crunch yet. in fact with savings as low as they are, we shouldnt have 2.75%.
this should set off sirens in the market.
clydrobe 1 month ago
Screw banks credit unions ftw!
MrAwesomesauce101 3 months ago
@MrAwesomesauce101-I was getting my hair done and someone who worked at a bank came in and talked to my stylist for a sec. When my stylist asked him "hey a lotta ppl left the bank" he said "ahhh who cares its just ppl with less than $500 anyway". Uhm...it adds up. I've been with my credit union for 6 years and ppl are just now understanding the benefits. But the banks are not caring. They should if they have to charge $5 a month for a debit fee.
terrelya83 3 months ago
the truth of the matter is we actually get educated in math..you know ...all them % ages and pesky numbers...our youth knows credit cards are a nono...I have never had credit nor would I ever agree to pay up to %30 more fo anything ever!!!
everything I have I paid cash and own outright
creedstat 3 months ago
Canadian banks lend and lend and give two shits if you can actually afford it. They base their lending on GROSS income, instead of net. (TDSR vs. DTI) TDSR does not include things like food, water, gas, clothing, KIDS, cell phone, maintenance etc! The canadian government also taxes your income RETARDEDLY before taxing sales RETARDEDLY! and they thought we had FREE health care? Canadian Gov't advises TDSR to be 35% while the banks advance to 50% and beyond!!!
DedmanUmotionS 3 months ago
I really liked TYT before this vid... The more way compare the lessor of evils...the more we'll be distracted from what is RIGHT. This is how "Democracy" has worked in favour of the rich for so long, keep choosing between the choices they give you, and you'll always have a dick in your ass or mouth.
DedmanUmotionS 3 months ago
Comment removed
DedmanUmotionS 3 months ago
Steven Harper has made all the changes to make canada more like the US. Bank bailout, Billions on prisons, Billions on Jets, Billions to wealthy corporations for stimulus!!!
this guy just said the "RIGHT SYSTEM"???? are you fucking kidding? we're still on a shithole monetary system where inequality reigns supreme. Canada suffers from tyranny just the same.
DedmanUmotionS 3 months ago
ALSO!!! OF the jobs "RECOVERED" most of them are PART TIME!!! the jobs are complete shit!!! hired through TEMP agencies where employees work a probationary period on contract without benefits, good pay, and a surcharge to the temp agency.
DedmanUmotionS 3 months ago
Canada is not IMMUNE!!! We had a 70Billion Dollar bank bailout of our own!!! that bailout was used to buy out mortgage debt with the people's money but the people don't hold the deeds on their houses... the banks still do. JUST LIKE THE US!!!!
DedmanUmotionS 3 months ago
I am Canadian and love it
scottdog87 3 months ago
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@scottdog87 Watch Real Footage Of Real Banks Causing real Problems
Watch “How To Rob A Bank” at UmotionS.com.
See the trailer at my channel with the link in it’s description.
DedmanUmotionS 3 months ago
i dunno wtf this guy is talking about saying canadas recovered most of its jobs... theres hardly any jobs here at all. general labour, manufacturing, steel industry, all dead. ive been out of work for a year and its only going to get worse
MrToiletface 3 months ago
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@MrToiletface THANK YOU!!! This video pisses me off to no end.
Watch Real Footage Of Real Banks Causing real Problems
Watch “How To Rob A Bank” at UmotionS.com.
See the trailer at my channel with the link in it’s description.
DedmanUmotionS 3 months ago
Australia has a very similar banking system to Canada but way less government debt.
viperswhip 3 months ago
Um, I know this was done over a year ago, but you might wanna update it with accurate information regarding Canada's financial practices. Try this search on youtube for the real story. "occupy toronto economics 101" It's the first result from Jim Stanford, who holds a PhD in economics.
Btw, whoever did the captioning for this video, really screwed it up!
-<3
A Canadian
amyislucid 3 months ago
END THE FED
hvitekristesdod 3 months ago
@hvitekristesdod THE VOICE OF REASON! GOOD FOR YOU.
604Andrea 3 months ago
ALL YOU AMERICANS GOTTA FUCKIN DO SOMETHIN WE GOT PEOPLE OCCUPYIN OVER HERE FOR YOU AN YOU GUYS SYSTEM IS DEBASEING THE WORLD ! sorry but shit son. AMERICANS CAN DO IT WE KNOW YOU CAN!, ITS WHATS RIGHT FOR HUMANITY.
CamMacrap 3 months ago
@CamMacrap ALLAHU AKBAR!!! ALLAHU AKBAR!!!
GDI109 3 months ago
Cenk is spot on, I've said it a thousand times before. Australia has the same kind of regulations as Canada and we avoided a recession too. The real estate market was unaffected, and unemployment stayed about the same at 5%. Except I dont blame the banks, I blame the republicans and their anti-regulation mantra. The banks in Canada and Australia are still powerful, and still give money to political parties, but we dont have the same anti-government, anti-regulation mentality they have in the US
tubester4567 4 months ago
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Does the fact that we have free healthcare help too?
Can someone please explain?
Crewie1039 4 months ago
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Lied too, Tricked, Fooled!, Manipulated!!. 80% of the world poulation is in willful Denial or is UNAWARE of this ''illuminati'' Well, They Own the entire World EconomyEducation/Job system, Food Fabrication, Healthcare system, Religions, Goverments, Politics, The Media, and many more Big Companies Who are Subliminal in 'Controll of our lives'. Watch all the video's i've added to my favourites. We're all in this Together and Together WE CAN RISE AGAINST CORUPTION!!
*HUMANAE LIBERTAS*
LikaPyramid 4 months ago
Canada DOES allow repackaging of mortgages, we just have lots of regulations on giving mortgages. The rule of mtgs in Canada is that if you can't afford it, you can't get it. Seems pretty sensible to me.
AestusL4 4 months ago 32
This has been flagged as spam show
@AestusL4 Watch Real Footage Of Real Banks Causing real Problems
Watch “How To Rob A Bank” at UmotionS.com.
See the trailer at my channel with the link in it’s description.
DedmanUmotionS 3 months ago
@AestusL4 In Canada it is very easy to get a mortgage with only 5% down. In fact in many areas "Oklahoma Deals" are the norm, where real estate agents intentionally fudge the paperwork so clients can buy with no money down.
The average home price in Toronto is approx. $478K.
For Vancouver it is $792K.
For Calgary it is $405K.
You get the idea. Many of these properties have been purchased with little or no down. The Canadian banks many not be as healthy as many think.
ElixirPolyweb 3 months ago 6
@ElixirPolyweb Everything you said is true. But If you cannot put 20% down on the property you are required to buy CMHC insurance to insure the banks from a failed mortgage. CMHC are sticklers to handing out credit w/o capacity. Many times I had to tell people, who I thought could afford the mortgage, that CMHC wouldn't approve them. If your TDS (Total Debt Service Ratio) is over 41% you can't have any black marks on bureau. If it's over 42% they will NOT approve the mortgage.
AestusL4 3 months ago
@AestusL4 There lies the problem. Banks should NEVER be insured against a potential default by a Crown corporation. That is taxpayer money that is, as Elixir stated correctly, A SUBSIDY! Banks, that have the benefit of being able to create money out of thin air, should have the same risk as the homeowner. No bailouts!
CMHC was created to address the housing shortage after WW II. Banksters hijacked the CMHC & little to no money down mortgages are the norm as the banks have very little risk.
pikeasaurusrex 3 months ago 5
@pikeasaurusrex But you're forgetting the most important part of CMHC. If there is <20% down, the banks don't make the final decision on approving the mortgage. The insurance company CMHC/Gemco has the final decision, and they're not going to want to approve a loan that is likely to fail.
Subsidy's in an of them selves are not bad. It's as you said, the carrying of risk. Since CMHC holds the risk, they have the final decision on mortgage approvals. Therefor, sub-prime mortgages would not exist.
AestusL4 3 months ago
@AestusL4 Actually subsidizing banks is never prudent. It is corporate welfare for corporate freeloaders. The free market is always the most efficient way for capital to flow.
What I find astounding is that anyone can defend the banking system when Canadian banks have received $78 billion dollars in "bailout funds" so far. RBC Capital Markets received billions TARP money.
The combination of banks & intermediaries have no risk. Canada continues to be an easy place to acquire a mortgage!
TheHybridSlinky 3 months ago 5
@ElixirPolyweb I don't know where the heck you are getting your information from. I live in Vancouver and I can tell you for a fact that the average home price for a normal house is NOT 792k, it's around 300k and you DO need 10% down, and your debt ratio IS taken seriously. I've bought and sold 4 houses, so I know what I'm talking about. Please don't distort the facts.
604Andrea 3 months ago
@604Andrea Sorry Andrea but you're full of crap! Show us all the listings of 300K homes in Vancouver. I'll buy them on the spot regardless of their condition! What a load of garbage!
pikeasaurusrex 3 months ago 22
@pikeasaurusrex Apparently there's no telling you anything, so I don't plan to. If you're interested in real estate in Vancouver check the real estate listing yourself. I guess you think this TYT video is BS as well. Your feelings are hurt because Canada's economy is strong and our banking system is in tact, I can't help you with that. Remember I said a normal house, not some bloody 5 bedroom home on the north shore built to attract overseas buyers.
604Andrea 3 months ago
@604Andrea Where the hell can you get a house in Vancouver for $300K! Do a search on MLS.ca for single residential houses in Vancouver. Two results came in....a boat house....and a shack on the reserve....both don't count & do not reflect housing prices in Vancouver. You might get a single detached shack somewhere in Surrey but that doesn't count either!
Ontario lost over 75K full time jobs in October and Toronto plans to lay off over 2K public employees!
Canadian economy healthy??? NO
TheHybridSlinky 3 months ago 3
@TheHybridSlinky To be honest Toronto should lay those people off. When it amalgamated instead of trimming the number of jobs or staying the same, it increased by 8000. 1 manager for every 6 employees in the Public Sector. Thats a huuuuuuge problem. Our economy is not "healthy" but we are doing a lot better than the US and other places.
boredgeek 2 months ago
@pikeasaurusrex
300k? sure if you're looking to buy a backyard to set up your tent on.
4795623 2 months ago in playlist More videos from TheYoungTurks
@pikeasaurusrex a $300K home in VAncouver / Victoria?!?! lolz It is probably the size of a compact car.
MrStoneClark 2 months ago
@604Andrea uhm places in like surrey/delta are 300k to buy houses .. and its 20% down ... so your wrong. i agree with elixiPolyweb.
qweenbish 3 months ago
@ElixirPolyweb dude thats not true. toronto is the most expensive place to live in canada. i can buy a home in chilliwack bc for $400,000
SuperVancouverBC 1 month ago
@SuperVancouverBC chilliwack is in the fraser valley, thats not pat of the vancouver market. vancouver is the most expensive market in canada, toronto is close to vancouver prices, but not ahead
Cheapshot420420 1 month ago
@Cheapshot420420 Chilliwack is nowhere near Vancouver lol. ANyone who thinks that it's part of the Vancouver market is crazy
danbeb 1 month ago
The bank of Canada isn't doing it's job, major private banks issue 95% of CDN currency at interest much like the Federal reserve in the USA. Go to a credit union and abandon the major banks they are crooks
MrROTD 4 months ago
regulations on Canadian banks were not deliberately removed like in USA.
Less over all debts as well.
dave777blaster 4 months ago
Banks own the politicians in Canada same as in the US, true we had better regulation. But the Canadian government backstops every mortgage Canada with the Canadian Mortgage and Housing Corporation, so banks write the mortages but tax payers back then up, win win for the banks.
As for our national debt it's balooned back up to over 550 billion, oh and for private debt, Canadians are in more debt than our cousins to the south.
This bubble is about to pop.
kgdies 4 months ago 2
@kgdies Our private debt might be more, but our net worth is more. That private debt calculation does not include assets. I've never been more in debt to the banks, due to investments,etc. yet my net worth has never been higher.
True our debt has gone back up to 550 Billion, but that is still a 33% debt to GDP ratio making us the lowest in the G8. Don't get me wrong, that needs to come down, but our recent increase has far more to do with 2008 recession than our own doing.
MadHabber93 4 months ago
@MadHabber93 it will be funny once people realize a house in Burnaby isn't worth a million dollars. that is when the SHTF...The USA is where the smart money is going when it comes to real estate - people who buy there now will look like geniuses in 10 years. If you look historically, our real estate bubbles get popped 2-3 years after the US, so we are so close to a correction.
zeusvalentine 4 months ago
@zeusvalentine It 'could' it the fan is some cities, but they've been saying we are heading for a bubble for 3 years now. I agree, smart money is U.S. real estate. But it only makes sense since many markets are half of they used to be.
MadHabber93 4 months ago
@MadHabber93
I'm scared for you because your in paper assets aside from your realestate holdings.
Truly I belive that when the SHTF you'll end up with 1/2 of what you thought you had,
now I could be completely out to lunch on that prediction.
But if nothing else any gains you've managed to achieve in the last decade will be inflated away by the central banks.
kgdies 4 months ago
@kgdies Potentially for half of my holdings, but that's the same for most people.
MadHabber93 4 months ago
@kgdies I thought CMHC only insure mortgages with less than 20% down.
LeakyWicks 4 months ago
@LeakyWicks
Well all I can say is that CMHC insures roughly a $ Trillion of canadian mortgages 2009 numbers.
If you do an reasearch you'll discover it's almost imposible to find any current stats. from our government or its agencies, I wonder why that is? LMAO
Cheers!
kgdies 4 months ago
@kgdies Also, mortgage borrowers pay a premium to CMHC towards the mortgage insurance. That's where the money comes from not from taxpayers. Foreclosure sales in Canada are @ close to market price not like in the US where they are fire sales @ 50% off so banks only needs a small insurance payout if some deadbeat default. And keep in mind that bankruptcy laws in Canada are a lot less friendly than in the US thus discourages people from just walking away from mortgages.
LeakyWicks 4 months ago
@kgdies That said, if the RE market tanks by 30% nationwide the banks will probably be asking the governement for emergency loans which you and i will have to pay in the form of inflation.
LeakyWicks 4 months ago
@kgdies The Bank of Canada doesn't do it's job since the 30s, Canada is under control of Major private banks just as the US is controlled by the federal reserve bank. My parents aren't even aware of whats going on they think The Bank of Canada is a valid institution but its just a front now.
MrROTD 4 months ago
Canada is a superior country ,,, it,s just a fact.
cranehelp99 4 months ago 37
@cranehelp99 If It weren't for the United States, Canada would be East Russia. It's just a fact.
Da1UHideFrom 3 months ago
@Da1UHideFrom How?? Because you have nukes?? Canada, years ago, made the decision not to have nukes. I always love these bullshit predictions based on nothing.
Unless you physically came to our defence, which you never have, then what ifs means nothing.
MadHabber93 3 months ago
@MadHabber93 I didn't say because we have nukes. You forget that during the cold war the USSR's foreign policy was to spread communism to EVERY country in the world. Canada would have been easy for the Soviet Union to invade. But they didn't of Canada's close ties and proximity to the US. If you didn't live in the shadow of a superpower Canada would have seen alot more war. We haven't came to your defense because you haven't needed it yet.
Da1UHideFrom 3 months ago
@Da1UHideFrom I don't agree that Canada would have been easy to invade at that time.
And If that was their policy, why didn't western Europe come under communism?
And exactly, we haven't needed yet, as we've defende ourselves and others for the past 100 years.
MadHabber93 3 months ago
@MadHabber93 1st western Europe didn't fall to communism because of NATO. 2nd Canada hasn't been in any major war since WWII nor has it been attacked by any foreign power, so no you haven't had a need to actively defend yourself.
Da1UHideFrom 3 months ago
@Da1UHideFrom Nato, which Canada is part of, did not physically come to western Europe's defence against the Soviet Union.
Canada was in no war since WWII?? Try the Korean War, Desert Storm and Afghanistan. And for Afghanistan, one could argue we came to your defence since Canada was not attacked on 9/11.
And I also realize, if Canada was attacked, the U.S. would be there. But it would and has worked vice versa.
MadHabber93 3 months ago
@MadHabber93 NATO's very existence stop the Soviet Union. And for Korea, Desert Storm, and Afghanistan all those conflicts were US-led. It's easy to judge and criticize when your on the outside looking in, but your country has not been in the leadership position once.
Da1UHideFrom 3 months ago
@Da1UHideFrom It doesn't matter that it was U.S. led, you said Canada has not been to War since WWII, which is false.
And we are a small country with a small force, why the hell would we be the overall leaders?? Having said that, look at Canada's role in Afghanistan and Libya. The Nato Mission was led by a Canadian, with Canada doing MORE than the U.S. WHich is a good thing. The U.S. wasn't in a position to do it this time. Its time other NATO countries stepped up.
MadHabber93 3 months ago
@MadHabber93 we are not a small country, we're the 2nd biggest one
bengacris 3 months ago
@bengacris I speaking of population, not land mass.
MadHabber93 3 months ago
@MadHabber93 I see
bengacris 3 months ago
@cranehelp99 Canada owns the U.S.
jethrodassam 3 months ago
@cranehelp99 It might be if my fellow citizens didn't post dumb arrogant crap like this on the internet.
Nemesis000000 3 months ago
@cranehelp99 Canada is not superior ok. Don't be a stereotype.
Italamerican100 3 months ago
@Italamerican100 So if we're not superior and the States is, wouldn't that be very stereotypical of you too??!!
MadHabber93 3 months ago
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@MadHabber93 don't put words in my mouth that i did not say i never said that they are equal
Italamerican100 3 months ago
@cranehelp99 Now, now, it's impolite to brag. Besides, it's not like there's not room for improvement.
Muljinn 2 months ago
That's why the 'Occupy' movement hasn't spread here, things are pretty good for everyone. Not perfect, but not crazy like some places to the south of us...ahem!
HugeJohn51 4 months ago
Yeah, Canada is great, USA is great... But Quebec is the best.
XD
peace
justin270496 4 months ago
@justin270496 your right, Quebec has Spruce Beer
Warpmek 4 months ago
@justin270496
Quebec is Part of Canada, so saying Canada is less then Quebec isnt very clever is it?
iDani3ll3 4 months ago in playlist More videos from TheYoungTurks
But it`s fucking cold up here and all you can do is stay home and save.
bigtarrose 5 months ago
@martinimix79 I follow a lot of different blogs, mostly American, and I am going to copy/paste your comment and use it. I'm also Canadian, and you pretty much summed up what needs to be said. Americans want a libertarian lifestyle, which means one never cooperates with anyone else - ever. The American dream is to go it alone, to stock up on food and guns and place sandbags around one's house, and get health insurance thru their church. It's insanity.
shmiggen 5 months ago 2
I have family in the US and I live in Canada. We do have a better banking system. Things are instant here.. I can transfer my money from my chequing/savings/line of credit in real time, the only exception Visa/MC (US system). I can even buy stock within seconds with of making a transfer within the same financial institution.
maclovindotca 5 months ago
Run for presadent.. i would move from Canada justvto vote for ya. lol.
BULLOCK1973 6 months ago
Great show.Spot on.
BULLOCK1973 6 months ago
i have the weirdest feeling one day canada and america is going to merge idk why just a huge feeling...
purple0wnzx 6 months ago
@purple0wnzx Do you live in Western Canada? We in Quebec would never be down for that.
Mehtaphorical 5 months ago
@Mehtaphorical ontario =/ i dont want canada/america to merge i would hate it
purple0wnzx 5 months ago
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@purple0wnzx Watch Real footage of Real banks causing Real problems at UmotionS.com.
See the trailer at my channel with the link in it’s description.
DedmanUmotionS 4 months ago
We subsidize the entire world's defense, and add some offense, and our government services are being ripped off.. a recipe for disaster. How can u fight a war without raising taxes? print. bubble. implode.
The Right answer is RON PAUL!
mcbowler 6 months ago
@mcbowler Ron Paul is okay but he doesn't believe in public health care and (for some ungodly reason) puts a lot of faith in charity (which is unreliable).
I want Ralph Nader or Bernie Sanders!
Piriathy 5 months ago
We subsidize the entire world's defense, and add some offense, and our government services are being ripped off.. a recipe for disaster. How can u fight a war without raising taxes? print. bubble. implode.
mcbowler 6 months ago
Wow .It's not to often I here someone from the US.talk about Canadian systems in such a positive way so thank you. You should also have universal healthcare as well because it's cheaper and no matter what you here we have much better access.I wish that had worked down there but I'm afraid it is doomed to fail.Private Insurance won the propaganda war. Universal medicine is Not the forced purchasing of private ins.That is just wrong
tindallpe 6 months ago
Canada is the best! :-)
justinelhillow 6 months ago
Move there, Asshole. :/
holmesbinton 6 months ago
@holmesbinton shut up, every time someone credits another country for doing something right, there some ignorant fuck that says ,WELL WHY DONT YA MOVE THERE THEN
why dont you learn to change, asshole
coopmuch56 6 months ago
@coopmuch56, Well Maybe I love my Country the Way it is! The True Gem of the World! The Beautiful Striped Banner! Maybe Everyone should Migrate Somewhere Else! How about You go to another Country and tell them to Change! Lets time How long you won't get your Head Lopped off your Shoulders! Liberal Traitor! People Died to Keep the US the Way it is! Please, Go Fuck yourself. People like you make me want to Cry.
holmesbinton 6 months ago
its kind of impossible for america now im not trying to be harsh they have alots of lots of lots....... depts to give to countrys.....
Sorry guys not trying to offend ur guys country..
amritrules1 6 months ago
"We have to put pressure on this system to change, so we do things the right way and not the wrong way"
Tell that to the person who does your subtitles.
*Kelso Voice*
BURN!"
theBartone9119 6 months ago
HAHA Ok I had to do one more. He said "Think about that man" and the subtitles said "Think about Batman" ....WTF!
theBartone9119 6 months ago
This has been flagged as spam show
Ok I could be here all day it's so bad, like, how do these guys expect to be taken seriously with these kinds of errors?
theBartone9119 6 months ago
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theBartone9119 6 months ago
He says "I mean some banks were just on the books let alone off the books" The subtitles say "I mean some banks war it just on the books a little off the books". OK I am getting angry now. Who the hell are they hiring to do this? Get your money back,
theBartone9119 6 months ago
He says "But the real problem is leverage", the subtitles say "But the real problem his lever"....I'm starting to think this has to be a joke.
theBartone9119 6 months ago
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theBartone9119 6 months ago
He says "The size isn't necessarily the problem" but the subtitles say "The size is that necessarily probably", like WTF! I just want to smack whoever wrote these.
theBartone9119 6 months ago
I hate how all the subtitles in The Young Videos are always wrong, it's so annoying. He clearly says "This is very important" , but the subtitles say "This is very poor" Lol. I notice multiple errors every time I watch one of these videos and it really grinds my gears.
theBartone9119 6 months ago
Canadian Life Expectancy: (At birth) 80.7
United States Life Expectancy: (At birth) 78.3
Canada's World Health Organization Ranking for Health care: 30th Place
United States World Health Organization Ranking for Health care: 37th Place
Canada's Standard of Living: 0.812
United States Standard of Living: 0.799
The States has 5.5 X more murders than Canada (Population difference taken into account)
I'm proud to be a Canadian!
theBartone9119 6 months ago
proud to be canadian (l)
kellygurl5 6 months ago
is this guy canadian, american or mexican
bmanngaming 6 months ago