Trudeau Is Going To Bury Us In Debt

petros

The Central Scrutinizer
Nov 21, 2008
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The economic statement for the 2020-21 fiscal year, tabled Monday, projects the largest single-year budgetary deficit since Canada began keeping track in 1966-67: $381.6 billion. That deficit is greater than total federal spending in the previous fiscal year, $375 billion, which included a $21.77 billion deficit.


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?
 
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IdRatherBeSkiing

Satelitte Radio Addict
May 28, 2007
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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.
 

Mowich

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Dec 25, 2005
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Any bets on how much worse our "fiscal update" is going to look form our last "fiscal snapshot?" When are we going to get an actual budget? Will the "fiscal update" balance itself?

Like people who have developed their retirement plan around the expectation of winning Lotto 649, I still believe that Trudeau is pinning all of his economic hopes for Canada on some kind of IMF debt jubilee. What an unimaginable, complete fool.

It continues to amaze me how comfortable Canadians have become having someone with the fiscal (and emotional) intelligence of a kindergarten student running the country.
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.
 

Twin_Moose

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Apr 17, 2017
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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
 
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Decapoda

Council Member
Mar 4, 2016
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I think it is time to retitle this thread to" TrudOWE has buried us in debt." And our grandchildren.
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.
 

taxslave

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Nov 25, 2008
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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.
 

pgs

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Nov 29, 2008
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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 .
 

bob the dog

Electoral Member
Aug 14, 2020
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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