Quote: Originally Posted by spaminator
GOSH Spammie! Do you NOT have any words or thoughts of your own?
If you have a thought why not just blurt it out?
Though it IS A FACT that Toronto Sun IS a good source of information!
Here is an article STATING THE OBVIOUS! With some comments of my own in brackets):
COVID-19: City of Vancouver at risk of bankruptcy, says mayor
By David Carrigg Vancouver Sun. Published April 12, 2020
Vancouver Mayor Kennedy Stewart says the city is at risk of insolvency.
(I am AWED by the mayors powers of observation! Prior to the appearance of Wuhan Virus - we ALREADY had national debts SO SEVERE that the payback was going to burden generations of Cdns FOR CENTURIES! And now with our govt literally spending as if they had found pots of gold at multiple rainbows - we ARE TRULY SCREWED by the Wuhan bills and costs!)
The City of Vancouver is at risk of going bankrupt, says the mayor, citing a recent poll showing more than half of property owners are not expecting to pay full property taxes this year as COVID-19 financial woes take hold.
(This bankruptcy news WOULD NOT be so offensive if LIE-berals were NOT so determined to return to the usual tax and spend madness designed to BUY VOTES from civil service union HOGS and assorted special LIE-beral pals just to save the LIE-beral hold on power - at ANY price! Even as govt shovels aid at us - LIE-berals are also getting ANOTHER pay raise and putting up the carbon SCAM tax by FIFTY PERCENT! Tax and spend MADNESS - as always! )
(Wuhan Virus is very likely going to complete the job that LIE-berals have been working on for decades - the creation of a TWO TIER SOCIETY in which LIE-berals and their pals own houses and cars and other nice toys and enjoy pleasant holidays and the rest of us live hopelessly in little concrete boxes and scratch around in the McJob and gig economy!)
(LIE-berals simply CANNOT coherently explain why the clerk marking your water bill as paid should be getting WAY MORE PAY than the clerk toting up your grocery bill other than the FACT that the vote of the govt clerk is being BOUGHT by LIE-berals - while grocery clerk is IGNORED!)
In a press release issued on Sunday afternoon, Mayor Kennedy Stewart said his earlier claim that the city would lose up to $189 million in revenue and fee shortfalls in 2020 could be $325 million short of the mark. The city has already laid off 1,500 workers.
“If 25 per cent of homeowners do end up defaulting on their property taxes, we could shed up to an additional $325 million in revenues,” Stewart said. “Losing more than half-a-billion dollars in operating funds in 2020 would devastate the city’s financial position, forcing us to liquify assets and exhaust every reserve fund we have — just to avoid insolvency.”
Property taxes make up the bulk of the city’s revenues at $874 million in 2019.
(Yes - we all understand the numbers - what we DO NOT UNDERSTAND is why civil service union pensions should continue to EXIST - since SO FEW Cdns - other than govt HOGS have them! Even worse- HOGS are entitled to pension rates and returns NOT PERMITTED to ordinary Cdns! HOGS are entitled to invest up to 33% of pretax income in an RRSP - and the govt employer kicks in a BIG chunk of that while ordinary peasants are limited to 18%!)
(LIE-berals have issued HUNDREDS OF BILLIONS of dollars in IOU`s to HOGS - promising future top ups of HOG pensions and it is money we DID NOT HAVE when the IOU`s were offered and it is money WE CERTAINLY DO NOT HAVE NOW!)
(OSSTF - Ontari-owe high school teachers were DEMANDING about $55 billion dollars in pension top ups in 2018 just before the provincial election and the urgent NEED to pay those IOU`s destroyed the Wynne-bag LIE-berals! And OSSTF is JUST ONE of 19 separate Ontari-owe unions with its hand out for more gravy! In related news - senior university staff had DEMANDED an immediate 50% pay raise right before that Ontari-owe election!)
(The UGLY TRUTH is that the pressure on LIE-berals to keep on printing money after Wuhan Virus is gone - WILL BE HUGE! Federal LIE-berals ran up $100 billion dollars in new debt in our allegedly booming economy between 2015 and October 2019 in a frantic effort to buy another majority govt - AND FAILED to feed the HOGS as much as they felt entitled to - LIE-berals were reduced to minority status as a result of HOG dissatisfaction with their gravy status!)
Stewart said that Research Co. polling commissioned by his office found that a quarter of all property owners would not be able to pay more than half their property tax owed in 2020 and that six per cent were not expecting to pay anything at all.
(And yet various HOG university professors are already being promoted in our LIE-beral friendly news media expounding on various ways that LIE-berals could PICK OUR POCKETS more creatively to grab the gravy HOGS DESIRE! Hog greed and LIE-beral lust for power are setting up an economic civil war that will be fought using deceptive accounting such as was used by Wynne-bag LIE-berals to HIDE their last $16 billion dollar debt and by the relentless use of FAKE NEWS so far removed from the truth that even Soviet Pravda Commissars would blush at telling such WHOPPERS!)
The poll also found that 68 per cent of Vancouver home owners did not pay their full mortgage on April 1, and that 55 per cent were not expecting to make their full mortgage payment on May 1.
(Yes- and as we know - bankers are willing to let the payments SLIDE for a while - just so long as they get to KEEP ADDING INTEREST to the debt! Though there is growing speculation that there will be a wave of forced bankruptcies in the months ahead as the debts and slow economy will overwhelm many people!)
According to the Canadian Bankers Association, over 500,000 Canadians have asked for mortgage deferrals in the wake of the COVID-19 crisis. This comes as banks are seeking increased interest rates.
(The UGLY REALITY is that LIE-berals have been playing with interest rates for VERY SELFISH reasons! They tell us that low interest rates help control inflation which is BULLSH+T! Our inflation is driven by the size of PAY RAISE LIE-berals give to HOGS - and by the rising cost of housing as transportation systems become ever more crowded and costly - it suits LIE-berals that we CANNOT easily commute from spread out lower cost suburbs - thus we squeeze ourselves ever more tightly into crowded towers in cities and in the process SAVE LIE-beral gravy that would otherwise be needed for new infrastructure!)
(And LIE-berals PREFER to have a sales tax percentage of a HIGH HOUSE PRICE instead of a low cost house! LIE-beral NEED for gravy mandates that 5% of a million dollars is MUCH BETTER for them than 5% of $300 grand! Ever increasing house prices translate into ever increasing sales tax gravy!)
LIE-berals are also screwing around with house sizes - once upon a time a 1200 square foot house was considered very nice - but now thanks to LIE-beral lust for property taxes we are NOT PERMITTED to build a 1200 sq. ft. house and MUST build one of 1800 or even 2200 sq. ft. instead - so LIE-berals can collect MORE real estate taxes on the bigger building!)
The Research Co. survey also found Vancouver renters were being hit hard, with 30 per cent not able to make their full April rents and 63 per cent not expecting to make full rent in May.
(WE should ask how much of these current numbers are the result of LIE-beral HYSTERIA - trying to panic the public in hope of sliding unpleasant LIE-beral values past voters! How much will these gloom and doom number change as the LIE-beral aid packages come into effect?)
(We KNOW for instance that the aid package for small biz WILL NOT be available till some time in MAY! And the student aid package has only just been announced and will not be available for some weeks! And in related news - how much of the student aid package will FIND ITS WAY DIRECTLY into the pockets of HOG PROFESSORS? LIE-berals refer to aid for students but there is ample reason to call it AID FOR HOGS - since the HOGS had previously DEMANDED a FIFTY PERCENT PAY RAISE from Wynne-bag LIE-berals - and now our kids are getting aid dumped into their pockets by govt! Will tuition costs be frozen or will they SOAR in the next couple of years? )
Over one million Canadians have so far applied for the federal government’s $2,000 a month COVID-19 emergency benefit.
The survey found that 46 percent of those living in the city had either lost their jobs or experienced a reduction in hours. This has led to half of all households reporting an overall decrease in income, with 24 percent experiencing a significant decrease.
“The research is clear — the city’s finances are going to be negatively affected by COVID-19 due to lost revenues and hard-hit homeowners defaulting on their property taxes,” Kennedy said.
(Yes - the aid packages being rolled out ARE NECESSARY - its just TOO BAD that LIE-berals see such OPPORTUNITY to buy votes and aid HOGS in this disaster relief!)
“It’s illegal for Vancouver and other local governments to run deficits, so the only way we can stay afloat is with the help of the federal and provincial governments. Otherwise, local governments will be forced to take drastic measures that will hurt residents and businesses, and significantly slow any post-pandemic economic recovery.”
(Cities have already demonstrated their INABILITY to act responsibly with a credit card - hence the prohibition against running deficits! One QUICK WAY to reduce city debt would be to HALT any more govt payments into HOG pensions! After all - in 2012 Cdn news media told us that NINETY SEVEN PERCENT of HOG pension plans were IN THE RED - meaning heading for bankruptcy IF MORE GRAVY was not shovelled into them! THIS IS the TRUE FACE of Bankruptcy! That one GOOD WAY to save our economy from MASSIVE new debts and major inflation would be to WIND DOWN AND CLOSE OUT the HOG pension plans that we cannot pay for anyway!)
(HOW INSULTING IS IT that even as our economy crumbles under the Wuhan Pestilence - OSSTF was DEMANDING even higher pay and MORE PENSION BENEFITS from Ford govt!)
(Hogs would be A LOT MORE CAREFUL of govt money if they had to live with the CONSEQUENCES of LIE-beral waste and extravagance like the rest of us!)