Canada just received a warning signal from its credit system.
Shares of Goeasy Ltd., one of the country’s largest non-prime lenders, collapsed after rising loan losses forced the company to withdraw its outlook.
Most people will dismiss this.
They shouldn’t.
🧵👇
Canadian subprime lender Goeasy just crashed 57% in a single day.
The company suspended its dividend, withdrew its financial outlook, and disclosed $233 million in loan losses, mostly from auto loans to subprime borrowers through its LendCare division.
This is a company that soared 1,000% between 2015 and 2025 lending up to $125,000 per borrower at rates between 9.9% and 35%. The average borrower makes $62,000/year. That's not "subprime lending," that's strapping debt onto people who can barely afford it during a credit boom fueled by artificially low interest rates.
It gets worse. Goeasy admitted that certain customer payments were being recorded as "received" when they were actually still being processed, and some were never collected at all. They've burned through three CEOs since 2024. The stock is down over 70% since the former CEO announced his retirement.
Subprime lending is always the first domino. It was in 2008 and it will be again. When the borrowers who can least afford to default start defaulting, it tells you the credit cycle is turning. This isn't just a Canadian problem, it's a signal for anyone paying attention to auto loans, mortgages, and consumer credit globally.
The canary isn't singing anymore. It's dead.
imagine you're in the world suffering by yourself, but actually millions of super intelligent beings are watching you from afar rooting for your success
Wow.
Toyota released a pro-life ad highlighting Lauren Woolstencroft—born without legs—who went on to defy the odds and become an 8X Paralympic gold medalist.
Most babies with disabilities are aborted.
This is one of the best commercials I’ve ever seen.
Unrealized gains tax for Gen-Z:
You buy a Pokémon card for $50.
Someone offers you $500 for it. You say no. You love that card. You're keeping it.
The government says: "Cool, but that card is worth $500 now. You owe us $100 in taxes."
You: "…I didn't sell it."
Government: "Don't care. Pay up."
You don't have $100 lying around. So you're forced to sell the card you love just to pay a tax on money you never received.
Next month? That card drops back to $50.
Your card is gone. Your money is gone. And the government shrugs.
That's a wealth tax on unrealized gains. They don't pay you back the tax...
Now picture this.
Your mom calls you crying. She has to sell the house she raised you in. Not because she can't afford it. She's lived there 30 years. It's paid off.
But some website says it's worth more now and the government says she owes $15,000 she doesn't have.
So she sells your childhood home. The kitchen where she made you breakfast. The doorframe where she marked your height every birthday.
Gone.
To pay a tax on money that was never real.
Now picture the opposite.
Your dad put everything into his small business. For 20 years he built it from nothing. One year the business is "valued" at $2 million on paper. He owes a massive tax bill. He empties his savings. Sells his truck. Borrows money. Pays it.
Next year the market crashes. His business is worth $200,000.
He lost everything to pay a tax on a number that doesn't exist anymore.
Does the government give him his money back?
No.
Does the government give him his truck back?
No.
Does the government care?
No.
They sold this idea as "taxing billionaires." But billionaires have armies of lawyers, offshore accounts, and trusts. They'll be fine.
You know who won't be fine? Your mom. Your dad. Your neighbor with a small business. The farmer down the road who's had the same land for four generations and now has to sell it because dirt got expensive.
You're not taxing wealth. You're taxing people for owning things.
It's like getting a parking ticket for a car you might drive somewhere someday.
They want you to own nothing and be happy. To fund the fraud, waste and abuse of the welfare state they created.
There is enough money. More tax isn't needed. It's all a lie. But you've been gaslit into believing this is a rich vs poor debate.
I hope you understand what's at stake.