Canada loses jobs, economy and companies

Twin_Moose

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Consumer Insolvencies Approach Record in Debt-Weary Canada

Canadian consumers filed the largest number of insolvencies in almost a decade at the end of last year, stoking concern about the impact of record indebtedness on households and the economy.
Insolvencies totaled 35,155 in the final three months of 2019, the most in any one quarter since 2010, according to data released Monday by the Office of the Superintendent of Bankruptcy Canada. That’s up 10.2% compared with 31,900 in the same period a year earlier and is about 5,000 shy of the record 40,589 reached in the third quarter of 2009.
After declining steadily after the financial crisis, insolvencies began accelerating again last year, prompting questions about whether the country’s record household debt -- C$2.3 trillion ($1.7 trillion) at the end of December -- is sustainable. Adding to concern is the fact insolvencies are rising at a time when Canada’s economy is doing relatively well, with an unemployment rate that averaged 5.7% in the fourth quarter. When insolvencies peaked a decade earlier, the jobless rate was almost three percentage points higher at 8.6%.
“I think we’re still going to see a slight increase in 2020,” André Bolduc, an executive board member at the Canadian Association of Insolvency and Restructuring Professionals, said in a phone interview from Ottawa. “We’re hoping the economy stays strong so that the increases stay healthy and it doesn’t become a crisis.”
On the less alarming side, adjusting the number of insolvencies to account for population growth shows the increase isn’t as dramatic. As a share of total debt, the rate of filings also appears to be more stable.
In addition, the lion’s share of the increase in the past decade has been so-called consumer proposals, where the debtor agrees with creditors to pay back a proportion of what’s owed. Proposals are considered less severe than bankruptcies, the other form of insolvency reported by the Ottawa-based OSB.
Key Numbers
Consumer proposals climbed 22% in December from a year earlier, while bankruptcies were up 1.7%Total consumer filings for all of 2019 were 137,178, the highest year-end total since 2009Consumer insolvencies fell 14% in December from a month earlier, in accordance with typical seasonalityOntario recorded the biggest increase last year among provinces, with filings jumping 15.4% from 2018 levels. Alberta saw a 14.6% increase, while in British Columbia they advanced 10.3%Business insolvencies rose 2.4% in December from a year earlier, and for all of 2019 up 2.8% compared with 2018

Good thing our economy is booming according to Hoid otherwise it would be looking pretty bleak
 

captain morgan

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taxme

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And the BC government has caused the loss of how many thousand jobs since that date?

Sometimes I am of the opinion that Canada and it's dear wonderful politically correct political leaders are trying to de-industrialize Canada and turn it back to the 17th century. There has been so many attacks on so many oil and gas projects in Alberta and BC that could create tens of thousands of new and run off jobs makes one have to wonder as to why there is so many groups of people that are against pipelines and jobs?

With the lieberals running the country and the socialist environmentalist NDP running BC, it's a wonder that they have not pretty much already shut down most if not all the pipelines in BC and Alberta just to please a tiny minority of whiners and crybaby native Indians and environmentalists terrorists who seem to be always in command of what will and what will not get built. This bs that new pipelines will always be doing damage to the environment thru the many leaks that might happen to those pipelines is so way out to lunch nonsense. sure there may be a leak or two but I doubt that the leak will cause a major disaster to their precious environment.

It is always a tiny small minority of troublemakers that always try to make life miserable for we the rest of the majority Canadian people. This minority rule needs to come to an end. The majority must rule. That is real democracy at work plain and simple.
 

taxme

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Consumer Insolvencies Approach Record in Debt-Weary Canada
Good thing our economy is booming according to Hoid otherwise it would be looking pretty bleak

Total nonsense. Canada is looking very bleak despite what the so called economy experts and the media is telling us. They are all okay. Their Canada is working out great for them. They say: where is the problem? Our economy is going down the tubes. As an example, thousands of good paying jobs have and are still being lost in Alberta. Pipelines and other big projects cannot get built that will create thousands of new jobs and money for the economy and for the thieves in Ottawa.

Sure they will tell us that their is plenty of investments going on in Canada, but they will not tell us as to how much of those investments have pretty much gone belly up. Just report good news, please. Our Canadian dollar(peso)should tell us all that the economy is not all going all that great. A country like Canada should be one of the filthy rich countries in the world. But thanks to our dear pro-globalist leaders in Ottawa, they want to make sure that Canada stays poor and near bankruptcy and Canada stays in debt to the international banksters. And all of these blockades going on in Canada, how can that help to make and keep Canada somewhat great? Of course our politicians are all okay. They are guaranteed to get their paychecks every month while many are now unemployed. Canada is truly looking very bleak.
 

pgs

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Nov 29, 2008
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Sometimes I am of the opinion that Canada and it's dear wonderful politically correct political leaders are trying to de-industrialize Canada and turn it back to the 17th century. There has been so many attacks on so many oil and gas projects in Alberta and BC that could create tens of thousands of new and run off jobs makes one have to wonder as to why there is so many groups of people that are against pipelines and jobs?

With the lieberals running the country and the socialist environmentalist NDP running BC, it's a wonder that they have not pretty much already shut down most if not all the pipelines in BC and Alberta just to please a tiny minority of whiners and crybaby native Indians and environmentalists terrorists who seem to be always in command of what will and what will not get built. This bs that new pipelines will always be doing damage to the environment thru the many leaks that might happen to those pipelines is so way out to lunch nonsense. sure there may be a leak or two but I doubt that the leak will cause a major disaster to their precious environment.

It is always a tiny small minority of troublemakers that always try to make life miserable for we the rest of the majority Canadian people. This minority rule needs to come to an end. The majority must rule. That is real democracy at work plain and simple.
Pretty much sum up why Americans elected Trump . Fed up with the status quo . Unfortunately we up here in Canada were also fed up with the status quo . We got sunshine lollipops and rainbows .
 

petros

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Nov 21, 2008
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today we have record employment and stock markets and a meh oil and gas sector
because ridiculously high oil and gas prices hurt our overall economy
Are you prepared for the next leap in inflation come April 1? Will you drive the minivan less or turn down the thermostat?
 

captain morgan

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Total nonsense. Canada is looking very bleak despite what the so called economy experts and the media is telling us. They are all okay. Their Canada is working out great for them. They say: where is the problem? Our economy is going down the tubes. As an example, thousands of good paying jobs have and are still being lost in Alberta. Pipelines and other big projects cannot get built that will create thousands of new jobs and money for the economy and for the thieves in Ottawa.

Sure they will tell us that their is plenty of investments going on in Canada, but they will not tell us as to how much of those investments have pretty much gone belly up. Just report good news, please. Our Canadian dollar(peso)should tell us all that the economy is not all going all that great. A country like Canada should be one of the filthy rich countries in the world. But thanks to our dear pro-globalist leaders in Ottawa, they want to make sure that Canada stays poor and near bankruptcy and Canada stays in debt to the international banksters. And all of these blockades going on in Canada, how can that help to make and keep Canada somewhat great? Of course our politicians are all okay. They are guaranteed to get their paychecks every month while many are now unemployed. Canada is truly looking very bleak.


I still can't figure out what economic sector(s) are doing so well as to float the national budget now that the various resource sectors have been pummeled


$600 Million loss for minimum 6 years before any chance to recoup for Quebec in the Bombardier deal


Caisse Populaire will be eating a giant bowl of sh*t on these loses.... More pressure on tater tot to funnel more non-existent cash in Que
 

Twin_Moose

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Quebec Premier said their $1.7 Billion surplus is only $1.1 Billion now, the question I have is how do they have any surplus with close to a $12 Billion transfer payment? Shouldn't that money be turned back in to benefit some other province or reduce the deficit? Or even be given back to Alberta?
 

captain morgan

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Quebec Premier said their $1.7 Billion surplus is only $1.1 Billion now, the question I have is how do they have any surplus with close to a $12 Billion transfer payment? Shouldn't that money be turned back in to benefit some other province or reduce the deficit? Or even be given back to Alberta?


Que incorporates the transfer payments as part of their GDP as if they earned that money via activities in the province.


Take away the transfer payments and Que is deep in the red
 

Decapoda

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Mar 4, 2016
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Quebec Premier said their $1.7 Billion surplus is only $1.1 Billion now, the question I have is how do they have any surplus with close to a $12 Billion transfer payment? Shouldn't that money be turned back in to benefit some other province or reduce the deficit? Or even be given back to Alberta?

Of course not, Quebec believes they are entitled to the resource revenue of Alberta. Truth is, they are total idiots that fail to realize the system is broken and unsustainable. With Trudeau flat-out refusing to renegotiate the equalization formula for another 5 years, the Liberals and QC is expecting AB and SK to put their economy in debt to fund Quebec's surplus....while at the same time, kneecapping the ability of AB to develop resources and generate revenue and systematically destroying their resource economy.

Not only is it unsustainable, but Albertans have reached the end of their rope. I suspect that dramatic change is imminent in this country, the East better buckle up for a bumpy ride.
 

spilledthebeer

Executive Branch Member
Jan 26, 2017
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Of course not, Quebec believes they are entitled to the resource revenue of Alberta. Truth is, they are total idiots that fail to realize the system is broken and unsustainable. With Trudeau flat-out refusing to renegotiate the equalization formula for another 5 years, the Liberals and QC is expecting AB and SK to put their economy in debt to fund Quebec's surplus....while at the same time, kneecapping the ability of AB to develop resources and generate revenue and systematically destroying their resource economy.

Not only is it unsustainable, but Albertans have reached the end of their rope. I suspect that dramatic change is imminent in this country, the East better buckle up for a bumpy ride.




UH OH!!!!!!!!!!!!!!!!!!!!!!!!!!!!


It is official!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!


Our idiot Boy Justin HAS GIVEN UP TRYING TO GOVERN!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!



I saw Our idiot Boy Justin on the CBC News at noon today - that would be February 14, 2020 answering various put to him by tame CBC UNIFOR UNION HOGS - giving his usual vague and irrelevant answers and it occurred to me he has given up trying to govern Canada!!!!!!!!!!!!

YES - it is truly remarkable how many answers he can give that DO NOT address the question being asked!!!!!!!!!!!!!!!!!!!!!!!

And for those who take issue with me describing CBC UNIFOR members as either HOGS or media whores - we have only to look at how easily the unionized mob of media whores WERE SATISFIED WITH IRRELEVANT AND MEANINGLESS PLATITUDES in answer to SPECIFIC QUESTIONS!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Our idiot Boy was asked about the native blockades that are starting to cripple our economy and he told us that THE DEPUTY PRIME MINISTER has been in touch with the provincial premiers and other stake holders and is discussing the matter!!!

Because Our idiot Boy far to busy chasing that elusive United Nations security Council Seat he covets - and DOES NOT wish to be bothered with petty stuff like dealing with radical insurrection closing down major portions of our transportation network!!!!!!!!!!!!!!!!

Our idiot Boy looked into the camera and told us the situation is quite complex and there are multiple stakeholders who must be heard and he went on to insist repeatedly that “Canada is a nation ruled by laws and the govt does not tell police
how to do their jobs”!!!!!!!!!!

This answer prompted a question about assorted court injunctions that HAVE BEEN OBTAINED by the cops but have not yet been enforced and why is that???

And our idiot Boy reiterated his statement about the rule of law - which begs the question as to WHY some Cdns are free to make their own laws??????????

Our idiot Boy then went on to talk about his trip to Africa and the opportunities he saw there - for sponsoring trade and education and other good things in places like Ethiopia and Cameroon and Niger!!!!!!!!!!!!!!!!!!!!

Apparently Our idiot boy has decided that sponsoring trade and education in Canada is not nearly rewarding enough and he wants to enter this new African political arena???????????????

Or maybe he is hoping that the illiteracy and language difficulties that many Africans work with will also help to LIMIT the number of nasty questions he is asked in either English or French at media scrums in future???????????????

The idiot Boy was then asked about the VERY WARM GREETING he offered to the Iranian Foreign Minister who has just arrived in Canada and the reporter suggested it might LOOK BAD to Cdns to offer such a warm welcome to the representative of a regime that had just MURDERED 57 Cdns?????????

And Our idiot Boy offered his usual pious platitudes about how often he has pressed Iran for a full investigation into the “ACCIDENT” that befell that Ukrainian aircraft - that was deliberately shot down by Iran!!!!!!!!!!!

Another question led to a discussion of civil rights in various African countries and it led to Our idiot Boy assuring us that he brings up civil rights where ever he goes!!!!!!!!!!!!!!!!!!!!

And some ink stained media mean mouth then quoted one of the African leaders Trudope had just met - telling the media that HOMOSEXUALITY IS A SIN and not permitted in his land and etc - the usual homophobic litany that Our idiot Boy claims to DEPLORE!!!!!!!!!!!!!!!!!!!!!

And yet Our idiot Boy is hoping to win a Security Council Seat - with the support of his homophobic African supporters who are willing to publicly repudiate Trudope opinions re the rights of homosexuals and transgender citizens!!!!!!!!!!!

One wonders how many hundreds of millions of dollars in Cdn foreign aid would be required to persuade African leaders to knock off the gay bashing for a while in order to please Our idiot Boy??

In other news - Norway is also vying for one of the Security Council Seats and that country has been giving FIVE HUNDRED PERCENT MORE FOREIGN AID to Africa that Canada does - and the Norwegian govt does not send representatives to African countries to try the patience of African leaders by spouting crap about promoting gay rights in countries where being gay is still criminal!!!!!!!!!!!!!!

In related news - Our idiot Boy told the assembled media whores that “the United Nations is the most important decision making body in the world today”!!!!!!!!

Which statement suggests that Trudope interest in the activities of the Cdn parliament HAS FADED BADLY in recent months!!!!!!!!!!!!!

Shall we blame the Trudope focus on the U.N. on the refusal of Cdns to offer the idiot Boy another Majority Govt????????????????

It does seem as if Our idiot Boy has decided that settling Cdn disagreements is worse than wrangling Cats and has decided to leave us to stew in our own collective bile??????????????????
 

taxme

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Feb 11, 2020
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Are you prepared for the next leap in inflation come April 1? Will you drive the minivan less or turn down the thermostat?

Nope. I am not going to give up on my lifestyle of the poor and not so famous until I start to see more action be taken by the ones who keep pushing this so called global warming scare and they start to practice what they preach themselves. 2 degree warming in the next 80 years is nothing to get all worked over. Besides many coastal cities are already preparing for the day that this 2 degree warming is going to do to all of the lands on earth. If the ocean water levels do happen to rise by a few feet in the next 80 years there is no need to panic. It is not like the whole earth is going to be flooded by all the glaciers melting.

But to all of those who are all up in a worry over global warming, then they better start to go after the third world and the amount of greenhouse gases that they are putting into the atmosphere. The people that live in the western countries of the world only make up approx. 8% of world population. The other 92% live in non-western countries. So just who is really causing the greenhouse gas levels to rise here? It sure ain't me doing all that much harm here in BC, pardner.