Mass Immigration is the most profitable business in Canada and the greatest driver of debt and inequality in the Western world.
Profitized growth sees the number and size of mortgages determining how much banks can make. The more there are and the bigger they are, the more banks rake in. Mass immigration is key to driving both bigger mortgages, through housing cost increases, and more mortgages via a bigger and always growing population.
Notice a trend? The top 2 categories are occupied by mass immigration profiteers. Banks and landlord had double the profits of the 8 productive industries on the list. Note also that the critical sectors of manufacturing and food production aren’t in the top 10. This reflects a rigged economy with the stability of a house-of-cards.
Mass immigration drives the demand for more mortgages and, at the same time, inflates housing costs and mortgage sizes.
The math of massive banking profits:
# of mortgages x the size of mortgages = size of profit
Welfare of Canadians? It isn’t in this equation.
The immense growth in mortgage debt as a consequence of immigration-driven population growth has followed the same pattern in many western countries, with Canada and Australia having the highest rates of population growth. The American experience, and likely that of the UK, Europe, and Australia, mirrors that of Canada, as they all have the same elites and growth-before-all-else economic policies.
How to Kiss an Egalitarian Society Goodbye
Housing inflation does not generate wealth. It drives a transfer of wealth from those who produce it to those who accumulate it. In effect, it is very much a tax – a cost one cannot avoid. But instead of being funneled into public services and infrastructure, this money goes into the pockets of a very small elite. Taxation without representation or even acknowledgement that there is a tax.
The scale is unprecedented to the tune of hundreds of billions of dollars annually in Canada and trillions of dollars over several decades. Bank profits are around $4000 per year per Canadian not including developer and speculator costs. This invisible tax funds unproductive wealthy domestic and foreign speculators.
Bernie Sanders makes this point in his short video on the $50 trillion Americans have lost to parasitic overhead.
- https://www.instagram.com/berniesanders/reel/DDIQuLqyXaK/
- https://www.youtube.com/watch?v=SC4JpV-rW1M
As well, an article by Paul Constant “The wealthiest 1% has taken $50 trillion from working Americans” and redistributed it”, details the results from a study on housing inflation in the US and its effect on income distribution.
Why can’t young people get ahead and afford a house? Look no further than the impact of mass immigration. Canada’s cheap labour policy undermines productivity increases and real wage increases.
The combination of cheap labour and inflated housing costs is the perfect generator of inequality. Unsurprisingly, as the developed country with the highest rate of population growth over the past 5 decades, Canada’s equality level, once the second highest in the world, has plummeted to the mid-30s.
How does real estate inflation and debt suck the money from productive people even if they carry no debt? In just about every way imaginable.
The Inflation Tax: it isn’t just on housing
Margrit Kennedy’s research of several decades ago illustrates how the costs of debt and printed money spread out and permeate every aspect of our lives. How much this adds to inflation and inequality levels in different countries richly deserves to be made public with up-to-date analysis.
Margrit Kennedy’s research of several decades ago illustrates how the costs of debt and printed money spread out and permeate every aspect of our lives. How much this adds to inflation and inequality levels in different countries richly deserves to be made public with up-to-date analysis.
See our page on “Inflation: How much is real and how much is engineered”:
Margrit Kennedy: Interest and Inflation Free Money
(Published by Seva International; ISBN 0-9643025-0-0; Copyright 1995 by Margrit Kennedy)
“A further reason why it is difficult for us to understand the full impact of the interest mechanism on our monetary system is that it works in a concealed way. Thus the second common misconception is that we pay interest only when we borrow money, and, if we want to avoid paying interest, all we need to do is avoid borrowing money.”
“Figure 3 shows that this is not true because interest is included in every price we pay. The exact amount varies according to the labour versus capital costs of the goods and services we buy. Some examples indicate the difference clearly. The capital share in garbage collection amounts to 12 % because here the share of capital costs is relatively low and the share of physical labour is particularly high. This changes in the provision of drinking water, where capital costs amount to 38 %, and even more so in social housing, where they add up to 77 %. On an average we pay about 50% capital costs in the prices of our goods and services.”
How big money rigs the political process to deliver maximum profit for the growth lobby is nicely encapsulated in Robert MacDermid’s study on municipal campaign funding. Take this as a microcosm of national politics. The growth lobby agenda is implemented by compromised politicians without any regard for the damage being done to Canadians, communities and the land.
How are politicians misdirected from the common good?
- Campaign contributions
- Good press
- Directorships
- Envelopes of cash
Robert MacDermid’s study on campaign funding illustrates the deliberate steering of public policy by well-heeled lobby interests.
Funding City Politics
Municipal campaign funding and property development in the Greater Toronto Area
Robert MacDermid
“The development industry is by far the most important financier of the majority of winning candidates’ campaigns in all municipalities with the exceptions of Toronto and Ajax. Given that real estate development is the prime purpose of municipal politics and property taxation its principal source of revenue, that is not surprising. Through the regulation of landuse, municipal administrations help create profits for property developers and at the same time broaden their tax base to allow elected officials to provide services that residents and development need.”
“Does it matter who funds candidates? It may not matter to voters who are unaware of how the campaigns of their local politicians are financed. However the pattern of giving by large backers in the development industry suggests some very calculated decisions about which candidates to support.”
“Developers want councils that are favourable to rapid development and to their own development proposals and they spend accordingly. Unsustainable urban sprawl, high transportation costs, environmental degradation, and a weak sense of community that undermines political organization and representation, are all traceable to pro-development councils and the provincial regulatory framework for urban development. Organizing to reverse these patterns is very difficult when development supported candidates and councils get elected and re-elected by the few citizens who vote.”
“Does the source of funding affect the decisions of elected officials? As the paper shows in a detailed analysis of decisions in Vaughan, elected councillors frequently vote on development proposals submitted by those who financed their campaigns.”
“However, all too often councillors avoid specific public accountability by taking advantage of the opportunity for unrecorded votes. But development and municipal politics have a much deeper connection and reforms at the political level will not undo their structural intertwining.”
“Throughout the analysis that follows, questions about important democratic concepts keep reappearing: about the representation of ideas, needs and groups; about citizen participation and involvement; about the impact of rules on democratic outcomes; about the accountability of the elected to the electorate; about the conduct and substance of elections; about influence and ultimately about power.”
For the pdf of the entire report please click here:
https://www.cpsa-acsp.ca/papers-2006/MacDermid.pdf
The government of Brian Mulroney committed Canada to both free trade and mass immigration. They both made out pretty well from it.
Barbara McDougall Immigration Minister from 1988 – 1991
- A Scotiabank director from 1999 to 2008,
- Board of Directors of Imperial Tobacco Canada, 2004 to 2010
Brian Mulroney ex-Canadian Prime Minister (1984 – 1993)
Directorships from:
- Blackstone Inc. is an American investment management company based in New York City with managed funds of close to $1 trillion. Its real estate business has actively acquired commercial real estate across the globe.
- China International Trust and Investment Corp is China’s biggest state-run conglomerate with one of the largest pools of foreign assets in the world.
Juicy annual directorship cheques are one thing but on another level is envelopes of cash. For anyone under 50, if you haven’t heard of this before, it will be hard to absorb even in our current era of corrupted politics. Brian Mulroney, the Prime Minister of Canada took huge cash bribes.
“Mulroney did not disclose that he had received money from Schreiber (which Schreiber alleges was a total of $300,000 in instalments of $100,000 in three separate occurrences between 1993 and 1994 given to Mulroney under the code name “Britan” in brown paper envelopes/bags in denominations of $1,000 during secret hotel exchanges). Later, on February 2, 1998, Schreiber met with Mulroney at Mulroney’s invitation to the hotel Savoy in Zurich, where, before a spread of smoked salmon and appetizers, Mulroney tried to get Schreiber to verify that nothing could connect Mulroney to the money.
Later on, when further information was leaked to the public, Mulroney stated that there was nothing wrong with accepting envelopes of $1,000 bills (which he put into safes and safe deposit boxes without reporting tax on it as income for years after). The Oliphant Commission, presided over by Justice Jeffrey Oliphant, reported on May 31, 2010, that Mulroney “failed to live up to the standard of conduct that he himself adopted in the 1995 ethics code. Oliphant J. said he could not accept Mulroney’s testimony that his acceptance of $225,000 cash was an error in judgment. Rather, it was an attempt to hide the transactions.” Wikipedia
Mass immigration reduces wealth per capita but funnels huge amounts of wealth into the pockets of the wealthy. It is the primary** pillar of the strategy stripping people in Canada and other western countries of their wealth and transferring it to a parasitic elite completely disconnected from the welfare of the nation. Unsurprisingly, Canadian banks finance the lobby group Century Initiative whose aim is to triple Canada’s population.
Own the media – Own the national conversation
What has happened is not a case of sharp business people doing well on a legitimate and productive business. Rather it is the rigging of the national economy against the interests of the vast majority of citizens in order to skim off the wealth of the country.
– Housing inflation and debt –
It wasn’t an accident. It wasn’t incompetence.
It was a plan.
** Globalism is a secondary, but still substantial, driver of this looting process.