Trump adds $1 TRILLION in DEBT (with pitifully insignificant economic growth)

[petros]

I have no personal debt beyond my month to month CO-OP card lock bill.

Corporate side, John Deere is owed $250,000 Putting $200K of personal money down sucked. I spent 2 years working in Canada biggest hole above ground to get it. I loved Vancouver in the 80s and 90s but now it's f-cked. Everybody is afraid of one another and they have to lie to themseves that they are happy.

The racism is off the charts.

 

[petros]

If I was 52, that would make you 104. Judging by your picture, 104 wouldn't be out of the question. In any event, I'm not 52.

We'll just add that to the long list of things Pete thinks he knows. Now, he's gonna get even angrier

53 and making $30K at a bottle depot is that much more pathetic. Damn those calendars eh?

You'll have f-ck all for CPP or work pensions if you are earning what a 20 year makes when you are 53.

You better start making your own meth and squirrel away a dozen rolls of gold maples or you are f-cked.

There won't be any airmiles for poverty holidays if you have nothing to spend.

 

[Hoid]

Yeah dad borrowed money on his Visa to buy some.

That was then and the debt load was much lower.

2008 was a test.

If rates triple or worse.....

Rates tripling is pretty hard to see.

The feds just brought (tomorrow) in a 2% stress test for mortgages - so Canadians will have to be able to afford a 2% rate hike in order to qualify for a new mortgage.

We already and have always had a very low rate of default. It's almost impossible to imagine Canada facing a mortgage default crisis - given that we have never deregulated our banking to the point where sub prime lending could occur.

In 2008 the Canadian rate of default on mortgages was still under 1%

 

[petros]

I'm doing just fine on a $2000 a month draw. I want more Indian land so it better the company reinvest than if have it taxed at personal rates.

Capital Cost Allowances will basically pay for the rest of the combine.

Besides my Mrs brings in over $100k.

Rates tripling is pretty hard to see.

The feds just brought (tomorrow) in a 2% stress test for mortgages - so Canadians will have to be able to afford a 2% rate hike in order to qualify for a new mortgage.

We already and have always had a very low rate of default. It's almost impossible to imagine Canada facing a mortgage default crisis - given that we have never deregulated our banking to the point where sub prime lending could occur.

In 2008 the Canadian rate of default on mortgages was still under 1%

Where we're you in the early 80s when mortgages were 18%?

 

[DaSleeper]

Eat your heart out guys.......every month I bring in $500 to $800 more than goes out except for December and a couple shopping trips to Toronto every year....

 

[Cannuck]

He's 52

53

Hehehe...

Eat your heart out guys.......every month I bring in $500 to $800 more than goes out except for December and a couple shopping trips to Toronto every year....

No wonder you're miserable.

 

[DaSleeper]

Always!

 

[petros]

Eat your heart out guys.......every month I bring in $500 to $800 more than goes out except for December and a couple shopping trips to Toronto every year....

The last couple years I've been able to buy 40-50 units every month for my mutual fund without the daughter saying "Dad, I need X amount for...please thanks I love you."

 

[JLM]

Putz doesn't know when to shut up, he even wants to argue about his lying!

 

[DaSleeper]

The last couple years I've been able to buy 40-50 units for my mutual fund without the daughter saying "Dad, I need X amount for...please thanks I love you."

You can only hope your kids grow up to become independent
I've always said that humans should do like groundhogs...
When their young are old enough at the end of the season they bring them to the end of the field and once they have dug their new hole they run away and loose them :lol:

 

[JLM]

I'm doing just fine on a $2000 a month draw. I want more Indian land so it better the company reinvest than if have it taxed at personal rates.

Capital Cost Allowances will basically pay for the rest of the combine.

Besides my Mrs brings in over $100k.



Where we're you in the early 80s when mortgages were 18%?

I was lucky in 83 my place was paid for. Then in '85 when I bought a bigger place rates had dropped in half, but my mortgage was small like maybe $40 grand. The place we are living in now cost almost 10 times the cost of the place we bought in '85. F**king robbery!

 

[DaSleeper]

I just hope mine can afford a house.

Bought mine 16 years ago for 168,500.

Worth 500,000 now.

Daughter bought herself a condo in Mississauga that will be paid for by the time she retires so all she will have then is condo fees...
The value has almost doubled since she bought it 7 years ago...
Son didn't do as good but he has a full time and a part time job..........

 

[JLM]

Relax John.

Ignore "putz".

Who is John?

 

[DaSleeper]

I wish yours well.

Mine are 15 and 11.

I do worry for them.

Good kids but they have no clue.

We always think that kids have no clue but then they grow up to teach us stuff.
I've come to the conclusion that every generation is better than the last...... thank God!

 

[DaSleeper]

They learn from our mistakes.

That is what I hope.

Luck has a lot to do with it....for me ....3 years after I had bought a house, the mill was about to shut down, there was an employee buy-out with me borrowing the limit that I could to buy in..
Eight or nine years later my shares sold for 16 times what I paid for them then some lucky investment........

 

[JLM]

Try buying one now.

I just did - back in May. Good thing I had a lot of equity in the old place and got a good price for it. $1400 below asking.

 

[DaSleeper]

Luck and guts.....and brains.

Dunno about brain...... a few co-worker of mine gave up and applied and got a job with the mill that was starting up in whitby....and they did good over there...
I put in an application to a mill starting up in Athabasca Alberta, but I was lucky, the mill manager called me back himself, and tipped me off as to what was happening behind the scenes here, the mill buyout and everything with Bob Ray's government involvement in it. He also said that if later I still wanted a job, I had one waiting for me.
I did call him.....years later to thank him for his advice.....

 

[JLM]

Just guessing.

JLM stands for something.

Jack?

Or John or James or Jeremiah or Jacob or Jonathon or Jerald or Jerrod or Jesus or Joseph!

 

[Curious Cdn]

If all consumers stopped spending and paid down debt.

The economy would collapse in a heap and it would be 1930 all over again.

 

[JLM]

The economy would collapse in a heap and it would be 1930 all over again.

Nah, the recipients would spend it soon enough!