WE really need to get rid of this guy
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Falling loonie and weak economy hurting average Canadians
Loonie trades at 70 cents for first time in years, food prices going up for families.
Author of the article:Brian Lilley
Published Nov 15, 2024 • Last updated 1 day ago • 3 minute read
Things are bad for the loonie and are likely to get worse, at least in the short term.
The Canadian dollar hit a low of 70 cents to the U.S. dollar this week, a drop we haven’t seen in more than four years.
In February of 2020, just before the pandemic hit Canada, the loonie fell to 70 cents.
The weak dollar means many of the things we buy, especially things like imported fresh fruits and vegetables during the winter months, are going to go up in price. Just as we were recovering from three years of rampant inflation driving up prices, now we get the joy of a weaker Canadian dollar driving up prices.
The drop in the price of oil still impacts the Canadian economy despite the Trudeau government’s attempts to suffocate the industry. The price of a barrel of West Texas Intermediate has fallen from $86 earlier this year to $67 now and of course, Canadian oil, like Western Select, trades even lower at $57 a barrel.
The drop in oil prices can be good for us at the pump but can also make everything more expensive. Right now, consumers are getting the fuzzy end of the lollypop no matter what happens.
The Bank of Canada’s interest rate cuts were welcome news by many. But in cutting more aggressively than the American Federal Reserve, the Bank of Canada may have chased investment south, leading to a lower dollar.
Add to all that the fact that the Canadian economy isn’t performing as well as the American economy. The scary part is the American economy is about to get a boost in the New Year from President-elect Donald Trump, which could leave us further in the dust.
In a paper for The Hub recently, economist Trevor Tombe pegged real GDP per capita in Canada at $44,400 compared to $66,300 based on 2015 dollars. The gap between the GDP per capita in the two countries has been widening for years and has become more pronounced as the American economy outpaces our own.
The translates into lower wages for Canadian workers and lower purchasing power, which has shrunk in this country over the last decade.
Two weeks ago, Statistics Canada released their latest report showing that GDP per capita in Canada has shrunk, meaning we are getting poorer, in eight of the last nine quarters. Much of the county now lags behind states that we would not consider wealthy, such as Alabama or Mississippi.
In the midst of all this, Justin Trudeau and his Liberals are belting out Sweet Caroline and telling Canadians “Good times never seemed so good.”
The Liberal government also continues to raise taxes with payroll taxes going up on Jan. 1, followed by the carbon tax increase on April 1 along with the annual tax hike on beer and wine that same day. All of these seemingly small changes have a much bigger cumulative effect on our economy, on our collective and individual wealth.
As the Canadian economy struggles, the Trudeau Liberals decided that now would be a good time to bring in an emissions cap, which really means a production cap, on the oil and gas sector. No other oil and gas producer in the world, not even green and progressive Norway, is doing this – just Canada.
We are also doing this just as the incoming Trump administration has vowed to increase oil and gas production and expand the exports of liquified natural gas, which Trudeau said there was no market for. All reasons the Canadian economy will fall further behind the American economy, the dollar will drop lower still, and we will all be poorer for it.
Our country is being run by economic illiterates – the sooner they are replaced with a government that will help not hurt the Canadian economy, the better.
blilley@postmedia.com
torontosun.com
Loonie trades at 70 cents for first time in years, food prices going up for families.
Author of the article:Brian Lilley
Published Nov 15, 2024 • Last updated 1 day ago • 3 minute read
Things are bad for the loonie and are likely to get worse, at least in the short term.
The Canadian dollar hit a low of 70 cents to the U.S. dollar this week, a drop we haven’t seen in more than four years.
In February of 2020, just before the pandemic hit Canada, the loonie fell to 70 cents.
The weak dollar means many of the things we buy, especially things like imported fresh fruits and vegetables during the winter months, are going to go up in price. Just as we were recovering from three years of rampant inflation driving up prices, now we get the joy of a weaker Canadian dollar driving up prices.
The drop in the price of oil still impacts the Canadian economy despite the Trudeau government’s attempts to suffocate the industry. The price of a barrel of West Texas Intermediate has fallen from $86 earlier this year to $67 now and of course, Canadian oil, like Western Select, trades even lower at $57 a barrel.
The drop in oil prices can be good for us at the pump but can also make everything more expensive. Right now, consumers are getting the fuzzy end of the lollypop no matter what happens.
The Bank of Canada’s interest rate cuts were welcome news by many. But in cutting more aggressively than the American Federal Reserve, the Bank of Canada may have chased investment south, leading to a lower dollar.
Add to all that the fact that the Canadian economy isn’t performing as well as the American economy. The scary part is the American economy is about to get a boost in the New Year from President-elect Donald Trump, which could leave us further in the dust.
In a paper for The Hub recently, economist Trevor Tombe pegged real GDP per capita in Canada at $44,400 compared to $66,300 based on 2015 dollars. The gap between the GDP per capita in the two countries has been widening for years and has become more pronounced as the American economy outpaces our own.
The translates into lower wages for Canadian workers and lower purchasing power, which has shrunk in this country over the last decade.
Two weeks ago, Statistics Canada released their latest report showing that GDP per capita in Canada has shrunk, meaning we are getting poorer, in eight of the last nine quarters. Much of the county now lags behind states that we would not consider wealthy, such as Alabama or Mississippi.
In the midst of all this, Justin Trudeau and his Liberals are belting out Sweet Caroline and telling Canadians “Good times never seemed so good.”
The Liberal government also continues to raise taxes with payroll taxes going up on Jan. 1, followed by the carbon tax increase on April 1 along with the annual tax hike on beer and wine that same day. All of these seemingly small changes have a much bigger cumulative effect on our economy, on our collective and individual wealth.
As the Canadian economy struggles, the Trudeau Liberals decided that now would be a good time to bring in an emissions cap, which really means a production cap, on the oil and gas sector. No other oil and gas producer in the world, not even green and progressive Norway, is doing this – just Canada.
We are also doing this just as the incoming Trump administration has vowed to increase oil and gas production and expand the exports of liquified natural gas, which Trudeau said there was no market for. All reasons the Canadian economy will fall further behind the American economy, the dollar will drop lower still, and we will all be poorer for it.
Our country is being run by economic illiterates – the sooner they are replaced with a government that will help not hurt the Canadian economy, the better.
blilley@postmedia.com
LILLEY: Falling loonie and weak economy hurting average Canadians
Canadian dollar trading in range not seen in years. Import prices rising just after inflation finally cooled.
In 2015, Trudeau had it all: celebrity, charisma, charm. But more than anything, he spoke to and represented values. The core tenet of Trudeau-ism was politics done, if only notionally, differently.
In 2024, here’s what is crystal clear: people are sick to death of this. What they want delivered is not the talk but the goods. They want prices down. They want criminals in their neighbourhoods locked up.
Simply put, they want results.
What is clearer still is that Canadians believe Trudeau can’t deliver those results.
apple.news
In 2024, here’s what is crystal clear: people are sick to death of this. What they want delivered is not the talk but the goods. They want prices down. They want criminals in their neighbourhoods locked up.
Simply put, they want results.
What is clearer still is that Canadians believe Trudeau can’t deliver those results.
This is the difference between the political moment that swept Justin Trudeau into leadership and the one that will push him out — Toronto Star
Axe the tax. Shutter the CBC. Cut the GST on new homes. Pierre Poilievre will do these things. And, critically, he’ll do so faster than you expect.
Think of all the fun you'll have laughing at the Yank expats when Poilievre becomes PM! "Well, shit, where do we go NOW?"
You do have a point. I don’t think any of them follow up on it as far as I know, but we do hear it every (US national) election.
(Oh, & the GREEN’s will go from 2 to 2)
To be fair, it wouldn't be that bad. Canada has two major parties, center-right and far-left.
America has two major parties, center-right and far-right (rapidly descending into batshit-Nazi).
America has two major parties, center-right and far-right (rapidly descending into batshit-Nazi).
It’s been said that “Success has many fathers, but failure is an orphan.” By that standard, the Sustainable Development Technology Canada (SDTC), more commonly known as the green slush fund), is a failure.
No one in the Liberal government or the federal bureaucracy even admits to knowing about the widespread misspending of taxpayer dollars – nearly $1 billion – nor the handing out of rich contracts to friends of the fund’s directors and the directors themselves.
The most recent example of this convenient amnesia came Monday when a former Industry Department deputy minister, who was in charge when most of the irregularities occurred, insisted it wasn’t his responsibility to police the ethics of boards operating under his department’s authority.
John Knubley, who retired as deputy minister in 2019, told the Commons public accounts committee it wasn’t his job to enforce ethics, but rather to ensure boards and commissions that fell under Industry Canada would “develop, refine and implement (their own) policies for real or perceived conflict.”
Knubley told the committee it wasn’t his job to determine whether the hundreds of millions doled out by the sustainability fund was awarded free of conflict. His job, he explained “was to make it clear that was their responsibility,” at the board level?
But that doesn’t absolve Knubley of responsibility. Given the level of corruption and incompetence uncovered this past spring by Auditor General Karen Hogan, Knubley obviously wasn’t very good at making it clear to cabinet-appointed boards that they had to develop and enforce ethics policies.
The green slush fund was found last spring by Auditor General Karen Hogan to have awarded scores of contracts to projects that didn’t qualify for tax funding because they didn’t support the development of new, sustainable technologies. Most projects that did receive funding vastly overestimated the amount of carbon emissions they reduced. And, most damningly, of the 226 projects funded in the past six years for a total of $836 million, there were 186 conflicts of interest.
Perhaps the most egregious violation by the board (a desperate Liberal cabinet disbanded the fund back in June) was a $217,000 grant awarded to a company in which Chair Annette Verschuren was personally involved.
Failure has no mothers, either. Verschuren has stated she, too, was unaware of any conflicts at SDTC.
Navdeep Bains, the former Liberal Industry minister in charge when most of the improper payments were made, has also abandoned this bastard child. Speaking at the end of October, Bains, who is now an executive with Rogers Communications, said he did not recall ever being told about ethics concerns. His only responsibility was to “appoint 7 of the 15 board members.”
But one of the big reasons governments appoint directors to publicly funded agencies and boards is so those directors will keep the appropriate minister up to date about any developments or concerns, including conflicts of interest.
I am convinced the Trudeau Liberals have formed the most incompetent government in the post-war period, some 80 years.
However, to believe that this degree of misspending and self-enrichment could go on with no one noticing would require a level of incompetence that even I cannot pin on the Liberals and federal bureaucrats.
Somebody had to know. And probably a lot of somebodies.
Which makes the current showdown in the House of Commons so critical.
Back in June, the opposition parties all voted that the Liberals turn over all relevant documents regarding the slush fund to the Commons law clerk who would transfer the documents to the RCMP to investigate for charges.
So far, the Liberals have only turned over documents that are blanked out or have pages missing, which the Commons motion specifically forbids.
The release of unredacted documents is crucial not only to getting to the bottom of the scandal but also to proving this government is not above the law.
GUNTER: Seeing red over Libs’ green slush fund — Toronto Sun
It’s been said that “Success has many fathers, but failure is an orphan.” By that standard, the Sustainable Development Technology Canada (SDTC), more commonly known as the green slush fund), is a failure. No one in the Liberal government or the federal bureaucracy even admits to knowing about...
As a guy with a short stint as a plumber, no comment.
. I agree they should start at the top though.
Foreign Affairs spent more than $500G on furniture on March 31
The lofty furniture purchases coincide with the end of the fiscal year
Author of the article
ostmedia News
Published Nov 28, 2024 • Last updated 1 day ago • 1 minute read
Federal records show Foreign Affairs Minister Mélanie Joly’s department spent over a half-million dollars on furniture on March 31, which is also the end of the fiscal year, reports Blacklock’s Reporter.
An Inquiry Of Ministry tabled in the Commons says Joly’s department ordered more than $523,000 worth of furniture on that one day.
However, cabinet has long denied what’s called “March Madness,” which reportedly sees government departments use up unspent budgets in the final hours of the fiscal year.
“Furniture is purchased on a regular basis as part of the department’s standard furniture replacement cycle,” cabinet wrote. “The Government of Canada acquires and manages furniture in an effective and economical way.”
The Department of Foreign Affairs did not explain its sudden requirement for furniture on the final day of the fiscal year.
“In addition to providing furniture in offices, Canadian staff working abroad in some countries are also provided with furniture in their assigned staff quarters in order to carry out their work and life abroad in an efficient, economic, productive and safe manner,” said the Inquiry.
Records showed Joly’s department paid for 73 separate orders for office and residential furniture and fixtures with a total cost of $523,446 on that day.
The figures were disclosed at the request of Conservative MP Eric Melillo (Kenora, Ont.).
In a 2019 Inquiry Of Ministry, cabinet wrote contracts are issued throughout the year at a regular pace with only a moderate increase in February or March.
However, Parliamentary Budget Officer Yves Giroux has previously disputed that claim in his 2021 testimony at the Senate national finance committee.
“You spend money you have rather than let it lapse, even if you don’t absolutely need the money,” testified Giroux. “That can in some cases lead to what we call March Madness.”
torontosun.com
The lofty furniture purchases coincide with the end of the fiscal year
Author of the article
ostmedia NewsPublished Nov 28, 2024 • Last updated 1 day ago • 1 minute read
Federal records show Foreign Affairs Minister Mélanie Joly’s department spent over a half-million dollars on furniture on March 31, which is also the end of the fiscal year, reports Blacklock’s Reporter.
An Inquiry Of Ministry tabled in the Commons says Joly’s department ordered more than $523,000 worth of furniture on that one day.
However, cabinet has long denied what’s called “March Madness,” which reportedly sees government departments use up unspent budgets in the final hours of the fiscal year.
“Furniture is purchased on a regular basis as part of the department’s standard furniture replacement cycle,” cabinet wrote. “The Government of Canada acquires and manages furniture in an effective and economical way.”
The Department of Foreign Affairs did not explain its sudden requirement for furniture on the final day of the fiscal year.
“In addition to providing furniture in offices, Canadian staff working abroad in some countries are also provided with furniture in their assigned staff quarters in order to carry out their work and life abroad in an efficient, economic, productive and safe manner,” said the Inquiry.
Records showed Joly’s department paid for 73 separate orders for office and residential furniture and fixtures with a total cost of $523,446 on that day.
The figures were disclosed at the request of Conservative MP Eric Melillo (Kenora, Ont.).
In a 2019 Inquiry Of Ministry, cabinet wrote contracts are issued throughout the year at a regular pace with only a moderate increase in February or March.
However, Parliamentary Budget Officer Yves Giroux has previously disputed that claim in his 2021 testimony at the Senate national finance committee.
“You spend money you have rather than let it lapse, even if you don’t absolutely need the money,” testified Giroux. “That can in some cases lead to what we call March Madness.”
Foreign Affairs spent more than $500G on furniture on March 31
Foreign Affairs Minister Mélanie Joly’s department spent over a half-million dollars on furniture on March 31 – the end of the fiscal year.
Can Jagmeet keep his leadership and/or seat if an election is called?
For anyone wondering where Justin Trudeau was Monday December 16th, 2015 during Parliament, Freeland’s (& others) resignation(‘s), during the budget announcement, etc…here’s his itinerary:
www.pm.gc.ca
Apparently, he was there, & not there, like Schrödinger’s cat.
Where will he be tomorrow on the last sitting day of Parliament for 2024?
www.pm.gc.ca
So, does that mean he’s not bothering with Parliament Tuesday either? Or maybe in the building but not bothering to show his face in the House of Commons ‘cuz that’s for the commoners?
The federal Liberals called an emergency caucus meeting Monday night, as Prime Minister Justin Trudeau faced renewed calls from some members of his party to resign.
Liberal MPs from across the country convened in a room on Parliament Hill, as politicians and political observers absorbed the shockwaves of Chrystia Freeland's “surprise” (???) resignation and release of a scathing letter to the prime minister.
If this was such a “surprise” (???), how come a bunch of old farts like us predicted this months in advance? Weeks in advance? Sunday…the day before it happened placing bets on how it would go down? How much of a surprise could this really be?
With the House of Commons scheduled to adjourn for the year on Tuesday, it doesn't appear as if the prime minister will have to imminently face a potentially government-toppling confidence vote….not that the NDP/Liberals wouldn’t prop up Trudeau anyway, but….
UPDATE – Prime Minister’s itinerary for Monday, December 16, 2024
Note: All times localNational Capital Region, Canada9:30 a.m. The Prime Minister will chair the Cabinet meeting.4:00 p.m. The Prime Minister will participate in the swearing-in ceremony of a member of the Canadian Ministry.The ceremony will be followed by a media scrum with the Minister.Rideau...
Prime Minister’s itinerary for Tuesday, December 17, 2024
National Capital Region, CanadaThe Prime Minister will attend the National Caucus holiday party and will deliver remarks.Notes for media:Open coverageMedia interested in participating can contact media@pmo-cpm.gc.ca for details.
So, does that mean he’s not bothering with Parliament Tuesday either? Or maybe in the building but not bothering to show his face in the House of Commons ‘cuz that’s for the commoners?
The federal Liberals called an emergency caucus meeting Monday night, as Prime Minister Justin Trudeau faced renewed calls from some members of his party to resign.
Liberal MPs from across the country convened in a room on Parliament Hill, as politicians and political observers absorbed the shockwaves of Chrystia Freeland's “surprise” (???) resignation and release of a scathing letter to the prime minister.
If this was such a “surprise” (???), how come a bunch of old farts like us predicted this months in advance? Weeks in advance? Sunday…the day before it happened placing bets on how it would go down? How much of a surprise could this really be?
With the House of Commons scheduled to adjourn for the year on Tuesday, it doesn't appear as if the prime minister will have to imminently face a potentially government-toppling confidence vote….not that the NDP/Liberals wouldn’t prop up Trudeau anyway, but….
It would be a big win for the people to have a chance to vote prior to the next group qualifying for the pension. I would say the #1 objective would be to vote with intent to deny. It reflects no change to the amount of productivity of the position.
www.taxpayer.com
If we get them all we save $120,000,000
Moving election means tens of millions in extra pensions
The Canadian Taxpayers Federation released estimates showing how much it could cost to delay the next election by a week and trigger the pension eligibility for members of Parliament elected in 2019.
If we get them all we save $120,000,000
Last edited:
MPs are eligible for a pension after six years of service. MPs first elected in the 2019 election are not eligible for the pension until Oct. 21, 2025.It would be a big win for the people to have a chance to vote prior to the next group qualifying for the pension. I would say the #1 objective would be to vote with intent to deny. It reflects no change to the amount of productivity of the position.
Moving election means tens of millions in extra pensions
The Canadian Taxpayers Federation released estimates showing how much it could cost to delay the next election by a week and trigger the pension eligibility for members of Parliament elected in 2019.
If we get them all we save $120,000,000
The federal government introduced legislation that would move the next scheduled election from Oct. 20 to Oct. 27, 2025.
This would mean 80 additional MPs would be eligible to collect a pension. The additional pensions total $120 million. That is the estimated lifetime pension if all 80 MPs lose their seats…but…odds are that very few Conservatives will lose their seats:
…& the Conservatives voted against this, so this is really about the NDP & Liberals:
…& NOT about the timing of the Alberta provincial election or any Sikh holiday. We just have to have the next Federal Election on or before October 20th…& if there is really a concern about a conflict of dates then they could have the federal election a week earlier on October 14th.
Or a month early on September 20MPs are eligible for a pension after six years of service. MPs first elected in the 2019 election are not eligible for the pension until Oct. 21, 2025.
The federal government introduced legislation that would move the next scheduled election from Oct. 20 to Oct. 27, 2025.
This would mean 80 additional MPs would be eligible to collect a pension. The additional pensions total $120 million. That is the estimated lifetime pension if all 80 MPs lose their seats…but…odds are that very few Conservatives will lose their seats:
View attachment 26251
…& the Conservatives voted against this, so this is really about the NDP & Liberals:
View attachment 26252
…& NOT about the timing of the Alberta provincial election or any Sikh holiday. We just have to have the next Federal Election on or before October 20th…& if there is really a concern about a conflict of dates then they could have the federal election a week earlier on October 14th.
My hubby commented that every time the bank of Canada reduces the interest rate, our dollar goes down. Interesting right?Falling loonie and weak economy hurting average Canadians
Loonie trades at 70 cents for first time in years, food prices going up for families.
Author of the article:Brian Lilley
Published Nov 15, 2024 • Last updated 1 day ago • 3 minute read
Things are bad for the loonie and are likely to get worse, at least in the short term.
The Canadian dollar hit a low of 70 cents to the U.S. dollar this week, a drop we haven’t seen in more than four years.
In February of 2020, just before the pandemic hit Canada, the loonie fell to 70 cents.
The weak dollar means many of the things we buy, especially things like imported fresh fruits and vegetables during the winter months, are going to go up in price. Just as we were recovering from three years of rampant inflation driving up prices, now we get the joy of a weaker Canadian dollar driving up prices.
The drop in the price of oil still impacts the Canadian economy despite the Trudeau government’s attempts to suffocate the industry. The price of a barrel of West Texas Intermediate has fallen from $86 earlier this year to $67 now and of course, Canadian oil, like Western Select, trades even lower at $57 a barrel.
The drop in oil prices can be good for us at the pump but can also make everything more expensive. Right now, consumers are getting the fuzzy end of the lollypop no matter what happens.
The Bank of Canada’s interest rate cuts were welcome news by many. But in cutting more aggressively than the American Federal Reserve, the Bank of Canada may have chased investment south, leading to a lower dollar.
Add to all that the fact that the Canadian economy isn’t performing as well as the American economy. The scary part is the American economy is about to get a boost in the New Year from President-elect Donald Trump, which could leave us further in the dust.
In a paper for The Hub recently, economist Trevor Tombe pegged real GDP per capita in Canada at $44,400 compared to $66,300 based on 2015 dollars. The gap between the GDP per capita in the two countries has been widening for years and has become more pronounced as the American economy outpaces our own.
The translates into lower wages for Canadian workers and lower purchasing power, which has shrunk in this country over the last decade.
Two weeks ago, Statistics Canada released their latest report showing that GDP per capita in Canada has shrunk, meaning we are getting poorer, in eight of the last nine quarters. Much of the county now lags behind states that we would not consider wealthy, such as Alabama or Mississippi.
In the midst of all this, Justin Trudeau and his Liberals are belting out Sweet Caroline and telling Canadians “Good times never seemed so good.”
The Liberal government also continues to raise taxes with payroll taxes going up on Jan. 1, followed by the carbon tax increase on April 1 along with the annual tax hike on beer and wine that same day. All of these seemingly small changes have a much bigger cumulative effect on our economy, on our collective and individual wealth.
As the Canadian economy struggles, the Trudeau Liberals decided that now would be a good time to bring in an emissions cap, which really means a production cap, on the oil and gas sector. No other oil and gas producer in the world, not even green and progressive Norway, is doing this – just Canada.
We are also doing this just as the incoming Trump administration has vowed to increase oil and gas production and expand the exports of liquified natural gas, which Trudeau said there was no market for. All reasons the Canadian economy will fall further behind the American economy, the dollar will drop lower still, and we will all be poorer for it.
Our country is being run by economic illiterates – the sooner they are replaced with a government that will help not hurt the Canadian economy, the better.
blilley@postmedia.com
LILLEY: Falling loonie and weak economy hurting average Canadians
Canadian dollar trading in range not seen in years. Import prices rising just after inflation finally cooled.
It's because there is too much cash in circulation from wild spending.