I think it is time to retitle this thread to" TrudOWE has buried us in debt." And our grandchildren.
Trudeau Is Going To Bury Us In Debt
- Thread starter Decapoda
- Start date
Okay Crispy Freeland, where the fuck is the other $30B?
Thanks to the SEC (sec I found out that on January 26 (filed the 25th) Mornreau borrowed $296B US dollars when our dollar was a stellar 72¢ (296÷.72=411.11) for a total of $411.1B Canadian.
I'm also aware that on March 28 2020 Scotia Bank (Filed pursuant to Rule 424(b)(2) of the SEC Registration Statement No. 333-222149)
rather the Public owned Bank of Canada was tasked with the distribution of those funds. How unfortunate for me that its impossible for me to do a FOIA enquiry as Scotia Bank isnt a Canadian Govt agency.
So where the fuck is the remaining $30B?
I am sure it found itself in the pockets of a friendly Liberal donor. Next year's scandal.
First time I have heard that word, When I was a kid the dream was $100,000.quadrillion here we come.
How much creme is Scotia Bank skimming off?
Not all Canadians are comfortable with justdim, Dec as is apparent with your comments and my reply. That said, we are stuck between a rock and a hard place as calling an election now would only return the doofus to power for yet another 4 more years of unaccounted for liberal spending sprees. Even if we were able to get rid of justdim, his replacement Freebird is an even worse choice for possible PM which her 'fiscal update' proved beyond a shadow of a doubt. She is a raging socialist at heart having completely embraced and championed all of the most harmful far left policies and agenda.
Here is the thing, money borrowed is actually 2019 debt since it was borrowed in January. We have no clue what 2020 debt is so far.
Good point, pete........hadn't thought of that.
Plenty of booby traps on a path to economic recovery littered with unknowns
Borrowing is easy
Despite a projected deficit of more than $380 billion and a debt expected to soar past $1 trillion, Freeland, who is also deputy prime minister, has reassured Canadians that payments on that debt remain affordable. But just as in your own household, debt is notoriously easy to run up and hard to run down.While interest rates are low now and the U.S. Federal Reserve — which strongly influences rates here in Canada — has promised to keep them low until the economy bounces back, market forces are telling us that long-term commercial interest rates are on the rise.
Extraordinarily low interest rates have led to extraordinary borrowing by governments, businesses and ordinary Canadians — and some say we are reaching the limit.
Some financial observers, including Martin Wolf at the Financial Times, have warned that the world may be on the cusp of a sudden shift from 40 years of falling to rising inflation. If that were to happen, governments and their central bankers would be forced to decide whether to quell it with higher interest rates in spite of the effect on their own borrowing costs.
While Freeland said that her spending will be based on long-term borrowing locked in at current low rates, costs could rise. Just as you
must periodically renew your mortgage, each year governments and companies must go back to the market to replace their portfolio of existing bonds as they come due, and that must be done at the interest rate when they do it.
So long as interest rates stay low and the economy continues to grow, Canadian personal borrowing — which Equifax just reported has hit a staggering $2 trillion — is nothing to worry about. A lot of that debt is backed by high and rising house prices. But rising rates and falling house prices, or a continuing recession that leads to job losses, could make that debt unbearable, damaging a crucial motor of the Canadian economy.....More
The really troubling part is that this thread was started 3 years before the virus even showed up in this country.
We are watching the certain financial ruin and inevitable economic catastrophe of the country play out in real-time...yet all many Canadians are concerned about is when the next government relief program will be rolled out and when the next government cheque will be showing up in the mailbox. Many people are applauding the systematic destruction of our rich and prosperous resource economy and cheering on the inane, utopian "new green economy" that Trudeau is hopelessly committed to. The shame is that these people likely won't have to live and suffer through the consequence of their terrible destructive and ignorant shortsightedness.
I have been concerned about this for a very long time. I fear for my grandkids future if we carry on like this. turdOWE will have our economy on par with Greece if he and his ilk are not stopped. Economics has to be taught in schools, and not by our current crop of far left teachers. There are actually people around that think moving their debt to a new credit card to get the 3 months of no interest or taking a cash advance on one CC to make the minimum payment on another CC is good fiscal management.
Sure it is , keep piling on until there are no more sources available and declare bankruptcy . We are inundated with advertisements on debt consolidation and relief . There must be a market for the service .
Canada has reserved more vaccine doses than any other country. Sounds more like Canada has jut spent the most money in the world to me.
60 Minutes story on Blue Flame Medical selling $5.000 ventilators for $41,000. Was it us? Clearly these people are not spending their own money.
Hopefully it all goes smoothly and it turns out to be a wise investment. We'll never hear it from them if it doesn't.
At least all the terrorist immigrants among others will have good access to the vaccine
60 Minutes story on Blue Flame Medical selling $5.000 ventilators for $41,000. Was it us? Clearly these people are not spending their own money.
Hopefully it all goes smoothly and it turns out to be a wise investment. We'll never hear it from them if it doesn't.
At least all the terrorist immigrants among others will have good access to the vaccine
they should be charged with criminal negligence causing debt.quadrillion here we come.
BONOKOSKI: The selfishness of jacking up billions in spending
Federal debt raise is scary and young people will pay the cost
Author of the article:Mark Bonokoski
Publishing date:Mar 20, 2021 • 10 hours ago • 3 minute read • comment bubble69 Comments
Canada's minister of finance Chrystia Freeland.
Canada's minister of finance Chrystia Freeland. PHOTO BY ERIC BARADAT /AFP/Getty Images
Article content
We have two beautiful granddaughters, so beautiful that photographs of them look like one of those stock pictures that often come with a brand-new wallet or to help sell drug-store picture frames.
One is five; the other almost three.
Your grandchildren are no doubt as equally captivating.
The other day, the Commons finance committee was told that MPs should veto a 56% increase to the federal debt ceiling until the Trudeau Liberals finally get down to the brass tacks of delivering a budget, which would be only their second since hell began freezing over.
“March 19, 2019, does that date mean anything to anyone?” asked Kim Moody, CEO of Moodys Tax Law LLP of Calgary.
“Well, it should. That was 730 days ago. That was the last time the government released a budget, and that’s a record, and our government continues to use COVID as the excuse for not releasing a plan.
“How do you vote on something when you don’t really know what the plan is?” said Moody. “We need a budget. We need a plan.”
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These are old, but familiar words.
The national debt today is $962 billion. It will not be mine to pay off. I am in the last furlong of life while our granddaughters are still years away from the starting gate, and our daughter and her husband are only rounding the first turn.
But it will be their debt, and how fair is that? It will also be the debt of today’s college and university graduates entering a shrivelled-up job market, and for the millennials who cannot possibly buy a family home without financial input from their aging parents or grandparents.
It will be their debt, not ours. I’ll be in St. Francis Xavier Cemetery in Brockville, Ont., helping to fill out the sunny side of the family plot.
I will finally be untaxable.
Bill C-14, however, is scary. As Blacklock’s Reporter told us, it would raise the federal debt ceiling $700 billion from the current $1.168 trillion, approved in 2017, to $1.831 trillion.
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“And, what about the plan to repay this debt?” rightly asked Moody. “Does it include a reasonable repayment period that will not saddle our children’s future with high borrowing costs that compromise essential government services?”
Well, not without a budget, it won’t, and Parliament hasn’t balanced one since 2007.
“It’s troubling to say the least,” said Aaron Wudrick, federal director of the Canadian Taxpayers Federation. “This would be troubling even if we did have a budget. We don’t.
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“It’s irresponsible and they are out of excuses,” he said. “They need to present a budget as soon as possible.”
The Trudeau Liberals have not stated when, or if, they will drop a budget before the writ is dropped and we’re off again on another federal election.
It’s worse than looking for Waldo.
“I don’t think the concern is demanding perfection from government, but just asking for a little bit of humility,” Wudrick told Blacklock’s. “There’s really no shortage of people asking for more spending, and very few asking for less.
“We think it’s important as part of that debate that there be a counterweight to what effectively are endless pleas for more of everything.”
That counterweight, of course, would be a budget.
Minister of Finance Chrystia Freeland “has already committed to spending money but she doesn’t know what she wants to spend it on,” said Wudrick. “That is a recipe for trouble.”
That, of course, would be Trouble with a capital T.
Not for me, necessarily, but certainly for my daughter’s family and, of course, my granddaughters, too.
Huge debt zeroing in on almost two trillion dollars is not repaid overnight, but over generations.
markbonokoski@gmail.com
torontosun.com
Federal debt raise is scary and young people will pay the cost
Author of the article:Mark Bonokoski
Publishing date:Mar 20, 2021 • 10 hours ago • 3 minute read • comment bubble69 Comments
Canada's minister of finance Chrystia Freeland.
Canada's minister of finance Chrystia Freeland. PHOTO BY ERIC BARADAT /AFP/Getty Images
Article content
We have two beautiful granddaughters, so beautiful that photographs of them look like one of those stock pictures that often come with a brand-new wallet or to help sell drug-store picture frames.
One is five; the other almost three.
Your grandchildren are no doubt as equally captivating.
The other day, the Commons finance committee was told that MPs should veto a 56% increase to the federal debt ceiling until the Trudeau Liberals finally get down to the brass tacks of delivering a budget, which would be only their second since hell began freezing over.
“March 19, 2019, does that date mean anything to anyone?” asked Kim Moody, CEO of Moodys Tax Law LLP of Calgary.
“Well, it should. That was 730 days ago. That was the last time the government released a budget, and that’s a record, and our government continues to use COVID as the excuse for not releasing a plan.
“How do you vote on something when you don’t really know what the plan is?” said Moody. “We need a budget. We need a plan.”
Advertisement
STORY CONTINUES BELOW
This advertisement has not loaded yet, but your article continues below.
Article content
These are old, but familiar words.
The national debt today is $962 billion. It will not be mine to pay off. I am in the last furlong of life while our granddaughters are still years away from the starting gate, and our daughter and her husband are only rounding the first turn.
But it will be their debt, and how fair is that? It will also be the debt of today’s college and university graduates entering a shrivelled-up job market, and for the millennials who cannot possibly buy a family home without financial input from their aging parents or grandparents.
It will be their debt, not ours. I’ll be in St. Francis Xavier Cemetery in Brockville, Ont., helping to fill out the sunny side of the family plot.
I will finally be untaxable.
Bill C-14, however, is scary. As Blacklock’s Reporter told us, it would raise the federal debt ceiling $700 billion from the current $1.168 trillion, approved in 2017, to $1.831 trillion.
Canada's Prime Minister Justin Trudeau receives a demonstration of how the check-in system works while he visits a vaccination clinic.
LILLEY: Canada gets extra doses but it ain't due to Trudeau
This Jan. 26, 2009 file photo shows the exhaust pipe of a car in Erfurt, Germany.
GOLDSTEIN: Trudeau's carbon tax to increase 33% on April 1
Canada's Prime Minister Justin Trudeau and his wife Sophie Gregoire-Trudeau are flanked by We Day co-founders Craig Kielburger, left, and Marc Kielburger, right.
GUNTER: Is Justin Trudeau the lost Kielburger triplet?
“And, what about the plan to repay this debt?” rightly asked Moody. “Does it include a reasonable repayment period that will not saddle our children’s future with high borrowing costs that compromise essential government services?”
Well, not without a budget, it won’t, and Parliament hasn’t balanced one since 2007.
“It’s troubling to say the least,” said Aaron Wudrick, federal director of the Canadian Taxpayers Federation. “This would be troubling even if we did have a budget. We don’t.
Advertisement
STORY CONTINUES BELOW
This advertisement has not loaded yet, but your article continues below.
Article content
“It’s irresponsible and they are out of excuses,” he said. “They need to present a budget as soon as possible.”
The Trudeau Liberals have not stated when, or if, they will drop a budget before the writ is dropped and we’re off again on another federal election.
It’s worse than looking for Waldo.
“I don’t think the concern is demanding perfection from government, but just asking for a little bit of humility,” Wudrick told Blacklock’s. “There’s really no shortage of people asking for more spending, and very few asking for less.
“We think it’s important as part of that debate that there be a counterweight to what effectively are endless pleas for more of everything.”
That counterweight, of course, would be a budget.
Minister of Finance Chrystia Freeland “has already committed to spending money but she doesn’t know what she wants to spend it on,” said Wudrick. “That is a recipe for trouble.”
That, of course, would be Trouble with a capital T.
Not for me, necessarily, but certainly for my daughter’s family and, of course, my granddaughters, too.
Huge debt zeroing in on almost two trillion dollars is not repaid overnight, but over generations.
markbonokoski@gmail.com
BONOKOSKI: The selfishness of jacking up billions in spending
We have two beautiful granddaughters, so beautiful that photographs of them look like one of those stock pictures that often come with a brand-new wallet or to help sell drug-store picture frames.
