Canadian banks could drop by 'at least' 50%: Short seller

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Canadian banks could drop by 'at least' 50%: Short seller 4.5
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Kevin Smith, CEO of U.S. hedge fund Crescat Capital, is putting Canadian banks in the same camp as those in China and Australia: worthy of a short. He outlines the key factors and why the global growth slowdown makes this time different.


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💬 Comments on the video
Author

A low unemployment rate means nothing when a house is $3, 000, 000 and rent on a one bedroom is $2, 500. Food is up 35% because the dollar is at $1.32 USD. It's just a matter of time before it all tanks.

Author — Lobster Boy

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Short sellers predicting a drop? There’s a shock.

Author — OTR Adventures

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From Calgary. I'm building A Tiny House on wheels this Summer with my cash business, no banks involved.

Author — Peter Hall

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Like America, Canadian tax payers will bail out the banks.

Author — William Kiene

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I love how everyone keeps trying to blame China for the inevitable economic meltdown that is about to happen. How about the fact that 1/2 of Canadian families are 50$ a week away from being completely bankrupt because they have zero savings and they’ve already pulled all of the boom equity out of their houses 2-3 times to pay off their maxed out credit cards (that are now maxed out again). Of course they also have to have 2 new vehicles in the driveway and all the latest and greatest to keep up with their neighbors who are also barely keeping their heads above water. This has everything to do with personal irresponsibility and nothing to do with China.

Author — Ryan H

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Canada is extremely overdue for a housing correction and the amount of personal debt and lack of savings Canadians have will crush the markets. It’s only months or a year or 2 away at most. Protect yourselves

Author — James

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Agreed Canadian Debt ratio high. House prices too high

Author — rajeevchugh12

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53 million in asset management? Is that even a company?

Author — Axes and alcohol

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Canada, like the United States, is facing a huge crash in our shared economies. We all have been living above our means and the bill is coming due.

Author — Joseph Van

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CHINA IS THE ENRON OF THE GLOBAL ECONOMY!!! So this guy is going to be proven 100% ACCURATE on all the major calls he made in this interview...

Author — AL SMART

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When the housing bubble bursts at least here in Alberta we won't see big drops. We've already seen housing prices drop with our economy tanking last 5 years.

Author — James

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The Canadian "Fed" will hurl wads of money at your banks same-as-ours. Take it from us Yankees, it'll happen.

Author — Paul Sommerhalder

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IMO it is Deutsche Bank that is going to pop the bubble. WAY over levered and, every western bank is exposed...

Author — Island Aerial

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Just learned a new term from Kevin: "Minsky moment". Thank you.

Author — AZmisc

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Join the yellow vests of Canada to say no more! City Halls across the nation every saturday at 11 am. If your city doesnt have one yet, start!

Author — Obsessive Compulsive

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BREAKING NEWS: Shorts say it's going down, Longs say it's going up.

Author — Alex S

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Makes me wonder that these cycles are being controlled to increase profits for the few that really are in control !

Author — ed jolly

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Is Canadian (Toronto/Vancouver) real estate over-priced? Yes
Does this guy do a good job in explaining why there's a bubble? No

Author — Ali S

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Short sell and then go on TV in an attempt to create a panic sell-off,  which would have the effect of bringing on the reduction in price that he has placed his bet on.

Author — Darren51283

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53 million AUM? How do they put this guy on BNN? What a joke

Author — rippinmachines