Canadian economy continues to expand, GDP rose 1.1 per cent

Nick Danger

Council Member
Jul 21, 2013
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Penticton, BC
Get ready for a recession.
There's that. If you read in investment circles there is a widespread consensus that we will be in a recession by the end of 2022, or 2023 at the latest. Efforts by central banks to cool an overheated economy and curb runaway inflation will have an effect on productivity by making it harder to borrow.
 
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pgs

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Nov 29, 2008
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Something has been bugging me. Lots of people want to hang the blame for high inflation on the government "printing money", like all the pandemic relief that went out to Canadians. I'm wondering why inflation keeps climbing even after all the pandemic support was phased out. Coincidentally, profit margins for large corporations set record highs in 2021. Go figure.
What is the amount of interest paid yearly on our national dept ? Should we keep borrowing more ? Why can’t a country as rich as Canada live within its means ? Is 50% tax not sufficient ?
 
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pgs

Hall of Fame Member
Nov 29, 2008
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I hear you, and I heard a rumour that he’s doing it from Aga Kahn’s private island while wearing blackface after flying there from Tofino after his 10th vacation of the year so far.
No it was Whistler last week , next up will be surfing in Tofino .
 
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pgs

Hall of Fame Member
Nov 29, 2008
24,338
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B.C.
There's that. If you read in investment circles there is a widespread consensus that we will be in a recession by the end of 2022, or 2023 at the latest. Efforts by central banks to cool an overheated economy and curb runaway inflation will have an effect on productivity by making it harder to borrow.
Rising interest rates tend to do that . Remember if you have 10% unemployment you have 90% employment .
 

Nick Danger

Council Member
Jul 21, 2013
1,770
437
83
Penticton, BC
What is the amount of interest paid yearly on our national dept ? Should we keep borrowing more ? Why can’t a country as rich as Canada live within its means ? Is 50% tax not sufficient ?
"Cut government spending" is an easy default position, but things get awfully quiet when it comes time to suggest where the cuts should be made. At the other end of the equation, nobody in government wants to talk about raising revenues. The corporate tax rate is less than half of what it was forty years ago, and while that rate has steadily dropped both profits and the income gap have risen accordingly. This isn't higher math, those with the greatest ability to pay keep getting off lighter and lighter.
 

Twin_Moose

Hall of Fame Member
Apr 17, 2017
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Everyone likes good economic news! YAY!!!!


Canadian economy continues to expand, GDP rose 1.1 per cent​

Statistics Canada says real gross domestic product rose 1.1 per cent in February, the largest monthly increase in about a year.

The rebound in accommodation and food services is among the reasons for the boost, as COVID-19 restrictions were eased following the surge in the Omicron variant.

“Food services and drinking places jumped 17.6% in February, more than offsetting the declines in December 2021 and January 2022, as activity increased across the country and at all types of establishments,” Statistics Canada said in a release Friday.


That 1.1% rise could be linked to the royalty share of the sky rocketing Oil prices
 

petros

The Central Scrutinizer
Nov 21, 2008
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Moccasin Flats
There's that. If you read in investment circles there is a widespread consensus that we will be in a recession by the end of 2022, or 2023 at the latest. Efforts by central banks to cool an overheated economy and curb runaway inflation will have an effect on productivity by making it harder to borrow.
Oh it's coming not only will things be getting more expensive, they'll be hard to find.
 
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pgs

Hall of Fame Member
Nov 29, 2008
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"Cut government spending" is an easy default position, but things get awfully quiet when it comes time to suggest where the cuts should be made. At the other end of the equation, nobody in government wants to talk about raising revenues. The corporate tax rate is less than half of what it was forty years ago, and while that rate has steadily dropped both profits and the income gap have risen accordingly. This isn't higher math, those with the greatest ability to pay keep getting off lighter and lighter.
How much of the Canadian Pension Plans funds are invested in those corporations? Do we want to devalue our investments and return on same ?
 

pgs

Hall of Fame Member
Nov 29, 2008
24,338
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B.C.
"Cut government spending" is an easy default position, but things get awfully quiet when it comes time to suggest where the cuts should be made. At the other end of the equation, nobody in government wants to talk about raising revenues. The corporate tax rate is less than half of what it was forty years ago, and while that rate has steadily dropped both profits and the income gap have risen accordingly. This isn't higher math, those with the greatest ability to pay keep getting off lighter and lighter.
Repeat after me , Profit is good . Profit allows for growth and innovation . Without profit we would still be driving Model T Fords . Why are you so against the highest standard of living reached in the history of mankind ?
 
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taxme

Council Member
Feb 11, 2020
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Everyone likes good economic news! YAY!!!!


Canadian economy continues to expand, GDP rose 1.1 per cent​

Statistics Canada says real gross domestic product rose 1.1 per cent in February, the largest monthly increase in about a year.

The rebound in accommodation and food services is among the reasons for the boost, as COVID-19 restrictions were eased following the surge in the Omicron variant.

“Food services and drinking places jumped 17.6% in February, more than offsetting the declines in December 2021 and January 2022, as activity increased across the country and at all types of establishments,” Statistics Canada said in a release Friday.



You must be talking about the expansion of the economy of the federal government, right? The federal government seems to be getting bigger and bigger every day. More big government means more taxes. Oh the joy of it all. :geek:
 

Nick Danger

Council Member
Jul 21, 2013
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Penticton, BC
Repeat after me , Profit is good . Profit allows for growth and innovation . Without profit we would still be driving Model T Fords . Why are you so against the highest standard of living reached in the history of mankind ?
I'm not against it, I'm for it being distributed more fairly.
 

taxslave

Hall of Fame Member
Nov 25, 2008
36,362
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Vancouver Island
"Cut government spending" is an easy default position, but things get awfully quiet when it comes time to suggest where the cuts should be made. At the other end of the equation, nobody in government wants to talk about raising revenues. The corporate tax rate is less than half of what it was forty years ago, and while that rate has steadily dropped both profits and the income gap have risen accordingly. This isn't higher math, those with the greatest ability to pay keep getting off lighter and lighter.
Start with low hanging fruit. The pay and perks of everyone getting a government cheque. Eliminate overlapping jurisdictions. Audit programs and see how close they are to following their mandate. We can hit incompetence after that.
 

mentalfloss

Prickly Curmudgeon Smiter
Jun 28, 2010
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Repeat after me , Profit is good . Profit allows for growth and innovation . Without profit we would still be driving Model T Fords . Why are you so against the highest standard of living reached in the history of mankind ?