Our current circumstance...

Remember the deals at The Brick, no payments for 2 years? Consider the past 30 or 40 years us Consumer Debt. Today was such a technology everyone strives to have a better credit score, you can check it online and be proud of your achievement. Publicly it has been announced that Canadians have achieved the highest level of consumer debt in history. The good union job, blue colour, the forest industry of British Columbia.. consider that all of this Consumer Debt has been the paper assets of large organizations that exist on the stock market. Nearly 50 years of the creation of believable equity in the form of debt. Stock Traders relish the idea of investing in this chain letter of increasing debt, for the future value of it and the big payoff. Many European countries, especially Italy purchased these as Investments for their Pension funds. The future value of this investment with assuring a safe pension for their citizens.
Now realize just this past summer of 2019, that 24 Sawmills have shut down in British Columbia for taking all of those people with good union wages out of work. With maximum personal debt as the statistic of Canadian citizens, consider how many bankruptcies will precipitate from The Sawmill employees alone. therefore that Consumer Debt will never have a future value to be collected, and the value of the stock that was purchased by the foreign country as an investment for their pension plan will also collapse in value.
Independent pensions funds, such as Teachers' Pension funds, have invested heavily in SNC Lavalin.... It's not just our federal government. Our federal government has continued CPP through decades, since WWII... All parties elected have moved it forward as a "Canadian Holy Grail".... It's a "populus" warm fuzzzzzy feeling, too big, too good to fail..... "sez the majority of good Christians...."
When I finished high school, and married the first time, the father-inlaw was a Baptist Minister, and also sold mutual funds..... How many "good Christians" bought into the investments to pay for "college tuition", as the perfect vehicle for their children to have a good secure Christian future....??? Then we had The Brick, no money down, no payments for two years....   Just keep ratcheting up your 'credit score'... LOL
In the heyday of Billy Graham "events", a church minister selling mutual funds, was like shooting fish in a barrel....
btw, wonder if the Billy Graham crusades of the 50s, 60s and 70s were partly funded by investment firms?