6.4 C
New York

Trudeau Enriches Banks Through Immigration

Published:

Leaked

Leaked documents expose Trudeau ‘s corrupt deal with banks to profit off mass immigration-fueled housing crisis.

Shocking revelations confirm Trudeau agreed to open the immigration floodgates, spike demand, and swell bank profits from inflated housing prices in exchange for massive campaign contributions.

This bombshell pact sacrificed affordable home ownership dreams of an entire generation of Canadians to line corporate coffers.

While families suffer under mounting mortgage debt, the banks and their political pawns have never had it better.

But their profiteering scheme just got dragged into the light. Outrage is sweeping the nation as we learn how far Trudeau sold out the people.

Now the housing crisis threatening to crush Canada’s future hangs on what action citizens take next to disrupt this pay-to-play racket.

Mass Immigration Lobbying

HOUSING CRISIS ALERT – Trudeau is exposed as leaked documents indicate that he is helping banks to profit from immigration policies in return for lining his pockets with cash for campaign funds. Canada’s mass immigration agenda has brought over 12 million new people to Canada in just 40 years, forcing the construction of 3-4 million additional housing units and fuelling uncontrolled urban sprawl.

Any politician who runs for office usually relies on campaign funds, and as such these funds are acquired either from individuals or corporations. This is called lobbying, where corporations or individuals fund politicians in return for implementing beneficial policies. According to the CSJ foundation, more than one-third of the 132 winning government candidates reported 75% or more of their funding came from corporate sources.

Most winning candidates were incumbents and fully three quarters of all corporate contributions went to them, explaining part of the huge incumbent advantage in municipal politics and the difficulty for challengers and reformers to overcome office holders backed by corporate cash. 

Such data supports that Trudeau’s funds rely mostly on big corporate contributions. Corporations don’t usually lobby any candidate, they mostly lobby incumbent candidates as they have higher chances to win the necessary votes. Also, their contributions support local and national candidates as they expect no resistance to their needs.

Since 2015, Trudeau has claimed that mass immigration benefits the economy and counters an aging workforce. The reality is that mass immigration has created a housing affordability crisis benefiting banks at the expense of younger Canadians. Adding millions of new residents through immigration has massively spiked demand for limited housing. The result? Home prices have skyrocketed out of reach for many, while banks rake in huge profits through enormous and never-ending mortgage payments.

Trudeau’s advocacy for mass immigration in Canada is through the Century Initiative, a lobby group funded by Canada’s big banks. The Century Initiative aims to expand Canada’s population to 100 million by 2100 through mass immigration. To put this in perspective, Canada’s population today is only around 40 million. Why would the big banks fund a group pushing such an aggressive immigration target? Simply put, more immigrants means more housing demand and higher home prices, which equates to bigger mortgages and more profit for the banks.

Housing Crisis

As housing prices rise, the size of mortgages also increases allowing banks to realise larger interest payments. Banks are essentially profiting from pricing Canadians out of the housing market. From the bank’s perspective, the ideal mortgage borrower is one stretched to their limit who will be paying interest over decades. Large levels of immigration help create a constant pool of new home buyers to feed this endless cycle of demand and inflation. 

Trudeau

For example, Toronto and Vancouver, which receive over half of new immigrants, have seen even more drastic price increases. The average price of a home in Toronto grew from $265,000 in 2000 to over $1.3 million today, a staggering 500% increase. In Vancouver, the average home price is now over $1 million, up 340% from $230,000 in 2000. These prices make home ownership unattainable for many Canadian residents in these cities without taking on extreme levels of mortgage debt.

Increasing prices also benefit real estate brokers through higher commission fees. The banks again benefit not only from higher mortgage balances but also from funding commercial and residential developments. Many of these developments were financed by the major banks, allowing them to reap profits from rental apartments and housing construction in addition to mortgages.

Trudeau

This “hidden housing tax” has priced a whole generation of Canadians out of home ownership. While banks get richer, young Canadians see their dreams of starting families and building futures crushed under mountains of mortgage debt. With homes costing 3-4 times average incomes in cities like Toronto and Vancouver, we are witnessing the death of the Canadian dream.

Greedy banks lobby liberal politicians like Trudeau to keep the mass immigration gravy train going, even while housing markets verge on collapse. Simply put, it’s a win-win situation for both Trudeau and the banks.

It’s time to offload the bank-bought politicians who sold out homebuyers to swell bank profits. Canadians demand representatives who will fight for housing affordability instead of pandering to banks profiting off the backs of the younger generation. The future of the Canadian dream hangs in the balance.

Economic Impact

While housing inflation produces massive profits for banks, real estate brokers, and developers, it also has detrimental economic impacts on average Canadians. With such a high percentage of income going towards mortgage payments or rent, Canadians have less left over for other spending and investing. Canada now has a record level of household debt as a percentage of income, leaving families highly vulnerable to economic downturns.

Younger Canadians are the most affected, with home ownership rates declining rapidly among millennials. The dream of home ownership is simply out of reach for many young people starting out. Even for university-educated young professionals, accomplishing basic financial goals like paying off student loans, saving for retirement, or starting a family has become virtually impossible due to the high costs of housing eating up the majority of income.

This lack of disposable income represents billions of lost spending in the broader economy each year. Additionally, businesses must deal with higher real estate costs and increased wages to compensate employees for living expenses. These higher operational costs get passed on to consumers through price inflation, reducing real wages and savings. Many have argued runaway housing inflation poses a major risk for Canada’s economic stability.

Also, this support for mass immigration has a huge impact on young Canadians looking for job opportunities. This as the incoming stream of nationals with different education and professional backgrounds creates a void where corporations and businesses can get experienced individuals with lower salaries rather than hiring native individuals with less experience.

Trudeau’s Inaction

With such alarming trends, why has Trudeau not intervened to restrain housing demand through lower immigration targets? Simply put, high immigration supports Trudeau’s political goals and the banks have a huge influence through lobbying the liberal party. The Liberals promote high immigration to spur population growth and satisfy claims that Canada has an ageing workforce that needs replacing. More immigrants generally benefit the liberal party at the ballot box as well. The banks heavily lobby the government and provide key funding and support during elections. In return, politicians turn a blind eye to the economic instability caused by housing inflation.

Banks are essentially imposing an enormous stealth tax on Canadians by promoting mass immigration to profit from housing inflation. This hidden tax redirects billions of dollars from productive economic spending towards untenable housing costs. While politicians like Trudeau are elected to represent the interests of Canadians, they have prioritised the profit-seeking of the banks and housing industry to the detriment of home affordability.

No More Chances For Trudeau

These damning revelations prove Trudeau has failed Canadians and irreparably destroyed public trust. He should immediately resign in disgrace for unconscionably selling out the people to appease his corporate masters.

Trudeau was elected to promote the wellbeing of all Canadians, yet he chose personal greed and power over enacting sound policy. He could have taken action to curb predatory housing speculation and make home ownership affordable again. But instead, he sold younger generations down the river to help banks profit obscenely off inflated housing prices driven by mass immigration.

Rather than show real leadership, Trudeau took the easy path – sacrificing the dreams of Canadians to satisfy big corporations lining his pockets. He enacted policies to pump housing demand and prices higher solely to extract more campaign funds from the immoral banks.

Trudeau’s scheming with banks to drive predatory housing inflation through mass immigration is corrupt and indefensible. He has irreparably failed Canadians who work hard playing by the rules.

For betraying the public trust and rigging the system against everyday citizens, Trudeau must resign immediately. Canadians deserve honest representatives who will fight for their interests, not brazenly auction the country off to wealthy special interests.

Trudeau’s legacy will be condemning younger Canadians to a neo-feudal future of lifelong mortgage servitude. For that unforgivable sin, he must resign in disgrace before he inflicts more damage. The future of the country is at stake.

Related articles

Recent articles

spot_img