Your banker won’t tell you this…….

Because if he did the board would fire his big, fat, hairy mouth right out the back door. And nobody else will hire him afterwards. But I am more than happy to deliver some bad news to you house-horny Canadians gobbling up debt like its wing night at the local bar. You are really in deep doodle this time. And those who don’t wake up quick will be facing a very difficult date when renewal time comes in the summer of 2025. Because that, my dear indebted reader is when your 5 year fixed could be approaching a shocking 9 percent, an ass-kicking rate not seen since 1995, some three decades in the past. So forget the divorce planning from your idiot spouse.

You can’t afford it anymore.

So how can I be so sure? Well its right on the chart. The long term resistance level on the closely linked 10 year US treasury bond is up in the 7 percent range, almost double where it sits today. To find your Canadian 5 year rate you just mix a scotch, add some ice, say a quick Hail Mary and add 2 points on top. Or something like that. Its bank science doncha know.

And its going break some of you people in pieces. I warned about this recently. I told close friends to lock in long or get the hell out because the Banks were going to eat the entire economy. And guess what? They will. The chart says so. No arguments please. So have a close look at my chart and note the gaping hole between where the 10 Year yield sits today and the future resistance line. That’s where we are really going no matter what the Fed magicians and J. Powell tell you. Actually, we are going over that line but it’s a little bank secret I can’t give away.

So the future is murder. House prices will drop relentlessly while this little nightmare unfolds.

Your retirement plans will wither. Your kids will never leave home.

And just wait till you see the coming credit card rates. Smoking!