CDN-Economy & Related Factors

bob the dog

Electoral Member
Aug 14, 2020
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RBC refused to initiate an international stock transaction when I tried to buy shares in the Beijing Automotive Group. #137 on the list of Fortune 500 companies and one of the largest electric vehicle manufacturers in China.

When I asked why US stocks were not considered international he deferred to some regulator bs. Canadian financial institutions are a big funnel for the power brokers of Wall St. Where is the government or the taxpayer federation on that one.
 

captain morgan

Hall of Fame Member
Mar 28, 2009
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A Mouse Once Bit My Sister
The Canadian economy saw an overall decline in gross domestic product (GDP) of 9% for March 2020. This is the single largest one-month decline since records began being kept in 1961.


https://torontostoreys.com/canada-gdp-march-2020/


Way to go trudie


 

Twin_Moose

Hall of Fame Member
Apr 17, 2017
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Canada adds 246K new jobs in August, unemployment rate falls amid coronavirus
https://globalnews.ca/newsletter/7316014/

Still 10% unemployment while the USA is at 8% I would say their economy is rebounding a lot faster than ours, We are back into restaurants and bars with limits, most of the US isn't, once they reopen this watch their unemployment rate drop like a rock.
 

Hoid

Hall of Fame Member
Oct 15, 2017
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BOC holds rates at .25% because the Fed has already said interest rates are not going up any time soon.

Projections are that these rates will last at least into 2022 and possibly 2023 - and in fact they may be permanent.

With the massive debt loads that nations now carry there is probably no way to put interest rates back up anywhere near historic levels without tanking every economy on earth.

What it means:

Real estate benefits because more people can afford more debt.

At the moment my heloc lets me borrow $50,000 for $100 a month.

The same debt on a Visa card would be $2,000 a month.

Obviously credit cards are going to need to be brought into line.
 

taxslave

Hall of Fame Member
Nov 25, 2008
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So expect real estate prices, and the taxes they generate to climb even higher. THen when trudOWE completely tanks the economy thousands of people are going to be stuck with expensive houses that they not only owe more on than the current value, they will not be able to afford the payments while on welfare.
 

bob the dog

Electoral Member
Aug 14, 2020
551
381
63
Liberals step up once again. Not quite the $900 million + grant for WE but a $221 million "loan" program for black entrepreneurs is a good step. Thinking of dressing in black face and applying. Always good to know they are looking after the people.
 

Twin_Moose

Hall of Fame Member
Apr 17, 2017
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Aaand this is how you buy off Charlie and the NDP party to stay in power

Guaranteed basic income tops policy priorities for Liberal caucus

OTTAWA — A guaranteed basic income for all Canadians has emerged as the top policy choice of Liberal MPs, just as the Trudeau government is crafting its plan to help people weather the ongoing COVID-19 pandemic and rebuild the ravaged economy.

The Liberal caucus is calling on the government to adopt the idea in a priority policy resolution for consideration at the party's upcoming national convention.

And MPs consider it so important that they've designated it their top resolution, guaranteeing that it will go directly to the Nov. 12-15 convention for debate and a vote.

It is among more than 50 priority resolutions from the governing party's provincial and territorial organizations and its various commissions that will be the subject, starting today, of a two-week online discussion among registered Liberals.

Liberal MPs are not alone in urging a guaranteed basic income. The 50 resolutions include numerous calls from all corners of the country pressing the government to adopt the idea in one form or another.

There are also multiple resolutions, including one from the caucus, calling on the government to develop enforceable national standards for long-term care homes — and to provide provinces with the funding needed to meet those standards. Long-term care facilities have borne the brunt of the more than 9,000 COVID-19-related deaths in Canada.

The pressure for an overhaul of Canada's social safety net comes just as the Liberal government is preparing for a throne speech on Sept. 23 laying out its plan for protecting Canadians during the pandemic, which is heating up again after a bit of a summer lull, and for reviving the economy.........More

All these leaks coming out what to look for in the Throne speech should scare every Canadian
 

DaSleeper

Trolling Hypocrites
May 27, 2007
32,698
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Northern Ontario,
I am wondering the same , or will there be discrimination against seniors ?
CPP levels depend depend on how much you and your employer contributed in your lifetime
Or in the case of disability income CPP your CPP could be cut off or greatly reduced when you start recieving OAS!


Ask Cliffly about it!
 

taxslave

Hall of Fame Member
Nov 25, 2008
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CPP levels depend depend on how much you and your employer contributed in your lifetime
Or in the case of disability income CPP your CPP could be cut off or greatly reduced when you start recieving OAS!
Ask Cliffly about it!
Hard to visualize the pension plan we were forced to pay into all our working lives paying out less than a living wage. Of course it is no longer our money once it goes into government coffers. Bribes to pay and whatnot. I asked for a buy out, all the money I and my employers paid in plus interest to go to my RRSP. Haven't heard back yet. Pretty sure it would pay a lot more than the $1056 they said I get.
 

Twin_Moose

Hall of Fame Member
Apr 17, 2017
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To make it work every wage deduction would have to rolled into the new program, you wouldn't get CPP, OAS, EI, Welfare, disability, etc. anymore you would just get this basic income payment 0f $2-3K. Those that make above the threshold would pay it back, then scaled down the payback as the income level drops until all you get is the basic income.
 

petros

The Central Scrutinizer
Nov 21, 2008
96,817
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Moccasin Flats
CPP levels depend depend on how much you and your employer contributed in your lifetime
Or in the case of disability income CPP your CPP could be cut off or greatly reduced when you start recieving OAS!
Ask Cliffly about it!
Cliff went from welfare to OAS and cried until put back on welfare. What a champ!
 

petros

The Central Scrutinizer
Nov 21, 2008
96,817
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To make it work every wage deduction would have to rolled into the new program, you wouldn't get CPP, OAS, EI, Welfare, disability, etc. anymore you would just get this basic income payment 0f $2-3K. Those that make above the threshold would pay it back, then scaled down the payback as the income level drops until all you get is the basic income.
I can see them killing the Disability Tax Credit and RDSP.
 

taxslave

Hall of Fame Member
Nov 25, 2008
32,959
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To make it work every wage deduction would have to rolled into the new program, you wouldn't get CPP, OAS, EI, Welfare, disability, etc. anymore you would just get this basic income payment 0f $2-3K. Those that make above the threshold would pay it back, then scaled down the payback as the income level drops until all you get is the basic income.
That would probably work. Cut a few thousand bureaucraps out of the money. Any private pensions should not be considered as income though.
One of the major changes I would like to see to income tax laws is no tax on overtime hours. If you want to work extra to get ahead the government should not get a share of it. Then there would be no need for double time as st time would give u as much takehome as taxing DT. WIN all round.
 

Twin_Moose

Hall of Fame Member
Apr 17, 2017
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The biggest opposition would be from the swamp where hundreds-thousands of federal workers in each department would be merged into 1 department meaning there should be many layoffs from the Fed. gravy train.
 

pgs

Hall of Fame Member
Nov 29, 2008
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The biggest opposition would be from the swamp where hundreds-thousands of federal workers in each department would be merged into 1 department meaning there should be many layoffs from the Fed. gravy train.
Never happen . No political party can stand the backlash .