Energy and industrials lift Toronto stock market, loonie edges higher
No matter how hard JT tries he just can't break our economy away from energy
Canadian economy posts weakest back-to-back quarters of growth since 2015
17) Canada – 90%
Experts believe that national debt hitting 90% of GDP is when it starts to impact upon economic growth. Canada is just teetering on the boundary, and some economists worry that the country's borrowing, in spite of good financial circumstances, will leave it vulnerable to recession in the near future.
Now show the increase the two fake World Wars cost us. The last big jump started in 1979,the year Iran broke their chains and there has been a covert war waged ever since, by the owners of Royal Dutch Shell. We are not getting what we pay for by any means.
The evolution of the federal government debt illustrates some of the major national and international political and socioeconomic events that have shaped Canada's 150-year history. Over this period, the nominal federal net debt per capita grew from $22 in 1867 to a record high $19,733 in 1997.
1867 to 1967
Federal net debt per capita, 1867 to 1967
Three relatively short periods of significant growth in the federal net debt can be identified in Canada's first 100 years. The first period began shortly after 1880 when the government of the day signed an agreement with the Canadian Pacific Railway to build the national rail line to the west coast of Canada. The other periods coincided with the two world wars (1914-1918, 1939-1945), during which net debt per capita soared by 516% for the First World War and 280% for the Second World War. To finance Canada's war effort, the government mainly borrowed from Canadians by issuing Victory Bonds and War Savings Certificates, precursors to today's Canada Saving Bonds.
Two sharp declines in net debt per capita also characterized the first 100 years of Canada. The first occurred between the First World War and the Great Depression, in the early 1920s. The second episode coincided with the post-Second World War economic boom, an era of strong, sustained economic and population growth, low unemployment and interest rates, and relative financial stability. Between 1946 and 1958, the federal government net debt per capita declined by more than 40%, the longest sustained net debt decline in Canada's history.
1968 to 2016
The period of sustained economic growth between 1950 and 1970 ended with a number of events in the early 1970s, namely the collapse of the Bretton Woods monetary system, the 1973 oil crisis, the stock market crash and the ensuing stagflation. This period was also marked by the implementation of new important social programs in Canada, such as the Medical Care Act (1966), the Canada Pension Plan and the Quebec Pension Plan (1966), the Old Age Security Program (1967) and the Unemployment Insurance Act (1971). In their initial forms, these programs relied heavily on federal government financing.
Federal net debt per capita, 1968 to 2016
The federal net debt per capita increased steadily for 30 consecutive years from 1967 to 1997, fuelled by rising inflation, two major economic recessions in the early 1980s and 1990s and persistent large budgetary deficits. In the 1970s and 1980s, net debt per capita grew significantly, with average annual increases from 1975 to 1987 exceeding 20%.
A drastic shift in public finance occurred following the federal debt historical peak reached in 1997. The government of the day introduced spending controls and measures to increase revenue in order to generate balanced or surplus budgets. Net debt per capita declined for 11 consecutive years to reach $14,951 in 2008, down 24% from the 1997 level. However, this downward trend was interrupted by the outbreak of the 2008 global financial crisis. Driven by large federal government deficits, the net debt per capita grew by 21% from 2009 to 2012. Since then, net debt per capita has declined slightly.
Just came from seeing my financial planner. One of my ETFs ditched 60% of its Canadian holdings in 2 quarters.
Definetly not a sign of confidence in Canada.
Amateurs. For REAL debt ya gotta raise spending AND cut taxes AT THE SAME TIME!
CARBON TAX REBATE...
Sometime this year, we taxpayers will receive a carbon tax rebate.
This is indeed a very exciting program, and I'll explain it by using a Q & A format:
Q. What is a carbon tax rebate?
A. It is money that the federal government will send to some taxpayers.
Q. Where will the government get this money?
A. From taxpayers.
Q. So the government is giving me back my own money?
A. Only a smidgen of it.
Q. What is the purpose of this payment?
A. The plan is for you to use the money to purchase a high-definition TV set, thus stimulating the economy.
Q. But isn't that stimulating the economy of China?
A. Shut up!
Below is some helpful advice on how to best help the economy by spending your compensation cheque wisely:
* If you spend the stimulus money at Walmart, the money will go to China or Sri Lanka.
* If you spend it on gasoline, your money will go to the Arabs.
* If you purchase a computer, it will go to India, Taiwan, or China.
* If you purchase fruit and vegetables, it will go to Mexico, Honduras, and Guatemala.
* If you buy an efficient car, it will go to Japan or Korea.
* If you purchase useless stuff, it will go to Taiwan.
* If you pay your credit cards off, or buy stock, it will go to management bonuses and they will hide it offshore.
Instead, keep the money in Canada by:
1) Spending it at yard sales, or
2) Going to hockey games, or
3) Spending it on a hooker, or
4) Beer, or
(These are the only Canadian businesses still operating in Canada . )
Go to a hockey game with a tattooed hooker you met at a yard sale and drink beer all day!
No need to thank me. I'm just glad I could help.