Canada tightens mortgage rules to stop housing bubble
- Thread starter SirJosephPorter
- Start date
Maybe you should read up on it. Rae didn't tank the Ontario economy. A recession did that. One can only work with what one has so many of his idealistic promises had to go by the wayside. Unions cried foul over Rae Days as cost-cutting measures. Harris gave them full unemployment when he scrapped programs and gutted ministries. Rae's biggest problem was in being not far enough left to suit his own party.
Farty is an ass, I've had a few encounters with the man, he's in my riding. Easy to get a meet and greet with him if you have money or a business until he realizes you don't tow the party line.
When Bob Rae ran up deficits in Ontario he used to scream and yell about it but then he does the same thing as finance minster of Ontario and Canada.
Pot meet kettle.
The global bubble economy used to be lighter than air now it's a wet paper bag that no matter for all the huffing and puffing of the kings men and horses can't be inflated again. What a wonderful oportunity for war. This calls for leadership. A proper carbon economy would go a long way to restore investor confidence. We must work harder. There is hope for change, going forward, and a bit to the right. haha What a mess. It's snowing again.
Of all the posters on here you are one of the ones who make the least sense, you're one of those people who should talk less and listen more- when your mouth is closed it's hard to put your foot it in..................:lol::lol::lol::lol::lol::lol::lol:
Nothing. The only thing to Harper's credit is that he made small mistakes (like blowing away the surplus on tax cuts, but not going into deficit), he did not make huge blunders like Bush (who ranked up huge deficits for tax cuts).
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Banks are paying 2 to 3 %? Where? The big banks are paying less than 1 % on bank accounts, perhaps slightly more on Money Marker Funds (but I don't think you get 2 to 3 % even there).
Some of the smaller banks such as ING may be paying that kind of interest, but the big banks pay much less than that.
You need to study Economics 101. If banks paid 8 to 9% to investors, they will have to charge 12 to 13% to the businesses (to whom they lend money). Loans will become very expensive. That will collapse the business activity altogether and we will plunge into depression.
You also need to study Economics 101, JLM. High interest rates are not inflationary, they are deflationary. High interest rates means all kind of loans become very expensive.
Mortgages become expensive, so people don’t but houses. Business loans become expensive, so businesses don’t expand and new businesses don’t start. The result is recession and unemployment. Business activity slows right down.
Interest rates are kept high only when inflation is running rampant. They are kept high until there is high inflation. As soon as inflation abates, interest rates are lowered. High interest rates are very harmful to the economy (and it doesn’t do Wall Street or Bay Street any good either).
"High interest rates are very harmful to the economy (and it doesn’t do Wall Street or Bay Street any good either)."-
That is what I just finished saying, S.J. if you'd just read my post.
That is what I just finished saying, S.J. if you'd just read my post.
I can't seem to communicate with you. I have failed, I am sorry. I should go away and stop wasting your time.
The choice in our terminally ill global economy is deflation or inflation or total war. Which do you think is better for a war economy. You seem to forget that we are pledged to fight TWOT till the planet is safe from Jupitarians. Sure you'll be alright, you can live at the bank, with your gold, but the rest of us have to enlist and go everseas to prevent the Taleban from breaking out to the coast from which they will surely mount an assault on Fortress North America. What the hell is wrong with you man?
Talk about the pot calling the kettle black. BOTH of you guys could use some refreshers in communicating- it's not a forte with either one of you. :lol::lol::lol::lol:
You're right VanIsle, it's just too bad that these guys who think they know everything have to p*ss those of us us who reallly do..........................:lol::lol::lol::lol::lol::lol::lol:
"Canada tightens mortgage rules to stop housing bubble"
So only the more wealthy people will be able to flip real estate.
Ah, the rich get richer and the not so rich get shafted. The usual SOP.
So only the more wealthy people will be able to flip real estate.
Ah, the rich get richer and the not so rich get shafted. The usual SOP.