bank rate up .25%

[Hoid]

Canada raised the key rate .25% again today (now 1.5)in an attempt to ...?

Government bonds are still paying about .8% ?

The looming trade war is going to hurt our economy, and while I support the governments attempt to get out of the free market and stop propping it up,it seems to me to be a time for prudence until we see what Poop Stain does to the world and Canadian economies as he continues to realign the global cash flow into the 1% pockets.

SO for the moment the banks - and lets be honest here, they are basically criminals who got caught, caused a depression with their monumental avarice and have been bailed out now for a decade - are charging more for their money and paying about the same for yours.

It is baby steps back to the business as usual that almost destroyed the western world. Or perhaps has.

edit in

Canadian dollar declining this morning.

 

[Jinentonix]

and while I support the governments attempt to get out of the free market

Why? Because you can't control your consumerist impulses? You need someone to regulate your impulses do you? The free market appears to suck because idiots keep running out and buying the latest gadgets and shit and don't seem to care what it costs. We are letting the manufacturers and retailers tell us how much we should pay instead of being smart and using our dollar power as individuals and a group to determine prices. Prices are what they are for a lot of stuff because people are stupid and will pay the inflated price.
You're just another leftard looking to blame someone other than yourself for your rabid consumerism and making the 1% even wealthier.

 

[pgs]

Who raised the rate ?

 

[Hoid]

This rate increase is also interesting in the wake of the multi billion dollar bail loan to the auto industry that Canada just forgave,

things are getting back to normal therefore forget about paying us back those billions of dollars you don't need anymore?


the auto industry has always been a government scam where they tax the sht out of the workers and pay the industry for the opportunity.

but given the recent destruction of the labor unions and the fact that an auto job is now 18 -24 bucks and hour no benefits no pensions, the half million or so (per job)that the government is shelling out is not a good investment. These are not great jobs anymore. Your tax profits are cut in half.

 

[pgs]

This rate increase is also interesting in the wake of the multi billion dollar bail loan to the auto industry that Canada just forgave,

things are getting back to normal therefore forget about paying us back those billions of dollars you don't need anymore?


the auto industry has always been a government scam where they tax the sht out of the workers and pay the industry for the opportunity.

but given the recent destruction of the labor unions and the fact that an auto job is now 18 -24 bucks and hour no benefits no pensions, the half million or so (per job)that the government is shelling out is not a good investment. These are not great jobs anymore. Your tax profits are cut in half.

Who raised the rate ?

 

[Ocean Breeze]

Bank of Canada raises overnight rate target to 1.5 per cent



https://www.ctvnews.ca/boc-raises-key-interest-rate-target-to-1-5-per-cent-1.4008495

 

[Danbones]

3.1 percent will be the effin' end for Canada.

...and all because the trumphaters politicians have been borrowing form the trumphating bankers to turn Camnada into a debt slave when we have a central bank that will do it for free.

 

[Hoid]

Its really the first time in a long time that a fixed rate mortgage might out perform a variable rate.

 

[Danbones]

are you on crack?

 

[Kreskin]

Will have a tough time keeping up with rising inflation and interest rates under the MAGA plan.

 

[Danbones]

lol, the rising inflation from obummer's petrodollar quantitative easing coming home to roost you mean?

of course you do.

trumphaters are so full of it.

 

[Kreskin]

lol, the rising inflation from obummer's quantitative easing coming home to roost you mean?

of course you do.

trumphaters are so full of it.

I'm beginning to wonder if you're always this stupid.

 

[Danbones]

You are too stupid to answer that

or you would have already.

Obama To Leave $20 Trillion Debt Crisis For Clinton or Trump
https://news.goldcore.com/ie/gold-blog/obama-debt-crisis/

duh...but hey, carry on...cliffy and hoid need the support.

 

[Twin_Moose]

Banks raise prime rate to 3.7 per cent

TORONTO - Canadian banks say they will raise their prime lending rate after the Bank of Canada increased its overnight lending rate to financial institutions.
Royal Bank, TD Canada Trust, BMO, and Scotiabank all say they will increase their prime rate by a quarter of a percentage point to 3.70 per cent, effective Thursday.
The rates had previously been set at 3.45 per cent.
The increase will raise the cost of borrowing for customers with loans linked to the prime rate such as variable rate mortgages and lines of credit.
The Bank of Canada raised its target for the overnight rate a quarter-point to 1.5 per cent Wednesday.
It was the central bank's fourth rate increase in the last 12 months.

 

[JamesBondo]

It is only a prime rate if it is divisible by 1 and itself

 

[Hoid]

They have to take the rate up slowly and see how many people are ruined by it.

There is such a thing as too many.

 

[pgs]

They have to take the rate up slowly and see how many people are ruined by it.

There is such a thing as too many.

Who is they ?

 

[petros]

This rate increase is also interesting in the wake of the multi billion dollar bail loan to the auto industry that Canada just forgave,

things are getting back to normal therefore forget about paying us back those billions of dollars you don't need anymore?


the auto industry has always been a government scam where they tax the sht out of the workers and pay the industry for the opportunity.

but given the recent destruction of the labor unions and the fact that an auto job is now 18 -24 bucks and hour no benefits no pensions, the half million or so (per job)that the government is shelling out is not a good investment. These are not great jobs anymore. Your tax profits are cut in half.

Forgave what? They bought GM (Government Motors) and sold it at a profit.

Who is they ?

Them.

 

[Danbones]

They "Them"?

 

[mentalfloss]

lol, the rising inflation from obummer's petrodollar quantitative easing coming home to roost you mean?

of course you do.

trumphaters are so full of it.