The DumbBrexit / #Wexit thread

[thedestroyerofworlds]

6 minutes ago, kingofsurrey said:

I feel like i am watching 2 accountants at a pub..... arguing whether there tip on a 5 dollar pint should be based on the cost of the pint before OR after taxes are included.....

 

Bottom line - Alberta conservative party ruined Alberta legacy fund and the alberta boom and bust economy in general.....

But it's the NDP'S fault when they had to dig them out of that hole, the crater that the oil bust left.  Wonder how many of those conservatives give Harper a pass on $55 billion. 

[ForsbergTheGreat]

20 minutes ago, kingofsurrey said:

I feel like i am watching 2 accountants at a pub..... arguing whether there tip on a 5 dollar pint should be based on the cost of the pint before OR after taxes are included.....

 

Bottom line - Alberta conservative party ruined Alberta legacy fund and the alberta boom and bust economy in general.....

Funny every time you post I feel like.

[kingofsurrey]

6 minutes ago, ForsbergTheGreat said:

Funny every time you post I feel like.

Posting selfies on this site is against forum regs...  You should edit your post. 

I do like your hat though.

[Warhippy]

Anyone catch that Bozo eruption from the "energy war room" taxpayers have funded at the expense of services?

 

https://edmonton.ctvnews.ca/canadian-energy-centre-chief-issues-apology-for-tweets-attacking-new-york-times-1.4809289

 

https://pressprogress.ca/jason-kenneys-energy-war-room-deletes-tweets-accusing-the-new-york-times-of-bias-and-anti-semitism/

 

https://www.cbc.ca/news/canada/calgary/alberta-energy-war-room-tom-olsen-jason-kenney-energy-1.5461950

 

https://toronto.citynews.ca/2020/02/12/alberta-energy-war-room-chief-apologizes-for-tweets-attacking-new-york-times/

[Ryan Strome]

Nearly 80 per cent of Albertans think the country is in the midst of a unity crisis: poll

 

Nearly 80 per cent of residents in Alberta and Saskatchewan think the federal government has lost touch with average people in the two provinces, says a new poll commissioned by the communications firm Navigator.

 

Nearly two-thirds of people in Alberta and Saskatchewan think the country is in the midst of a national unity crisis, along with a razor-thin majority of 51 per cent of Canadians across the country.

 

 

The numbers are lowest in Manitoba, where only 41 per cent of people think the country is experiencing a national unity crisis and the Atlantic provinces, where 44 per cent agree.

 

Where the threat to unity originates is a matter of contention.

 

One-third of Canadians think Alberta is the greatest threat to national unity, while 50 per cent say it is Quebec. Twenty-three per cent of Canadians expect that Quebec will separate in the next decade, while 19 per cent of Canadians think Alberta will secede in that time.

 

The most troublesome numbers for Prime Minister Justin Trudeau’s government may be that in both Alberta and Saskatchewan 78 per cent believe that Ottawa has “lost touch with average people” from the two provinces.

 

https://nationalpost.com/news/politics/nearly-80-per-cent-of-albertans-think-the-country-is-in-the-midst-of-a-unity-crisis-poll

 

[kingofsurrey]

1 hour ago, Ryan Strome said:

Nearly 80 per cent of Albertans think the country is in the midst of a unity crisis: poll

 

Nearly 80 per cent of residents in Alberta and Saskatchewan think the federal government has lost touch with average people in the two provinces, says a new poll commissioned by the communications firm Navigator.

 

Nearly two-thirds of people in Alberta and Saskatchewan think the country is in the midst of a national unity crisis, along with a razor-thin majority of 51 per cent of Canadians across the country.

 

 

The numbers are lowest in Manitoba, where only 41 per cent of people think the country is experiencing a national unity crisis and the Atlantic provinces, where 44 per cent agree.

 

Where the threat to unity originates is a matter of contention.

 

One-third of Canadians think Alberta is the greatest threat to national unity, while 50 per cent say it is Quebec. Twenty-three per cent of Canadians expect that Quebec will separate in the next decade, while 19 per cent of Canadians think Alberta will secede in that time.

 

The most troublesome numbers for Prime Minister Justin Trudeau’s government may be that in both Alberta and Saskatchewan 78 per cent believe that Ottawa has “lost touch with average people” from the two provinces.

 

https://nationalpost.com/news/politics/nearly-80-per-cent-of-albertans-think-the-country-is-in-the-midst-of-a-unity-crisis-poll

 

[wiseupsucker]

By your attitude, you clearly have a poor opinion of Alberta. Because of your snarky drive by’s and constant denigrating comments one would think that you would be Wexit’s biggest cheerleader. 

[Boudrias]

11 hours ago, Ryan Strome said:

Nearly 80 per cent of Albertans think the country is in the midst of a unity crisis: poll

 

Nearly 80 per cent of residents in Alberta and Saskatchewan think the federal government has lost touch with average people in the two provinces, says a new poll commissioned by the communications firm Navigator.

 

Nearly two-thirds of people in Alberta and Saskatchewan think the country is in the midst of a national unity crisis, along with a razor-thin majority of 51 per cent of Canadians across the country.

 

 

The numbers are lowest in Manitoba, where only 41 per cent of people think the country is experiencing a national unity crisis and the Atlantic provinces, where 44 per cent agree.

 

Where the threat to unity originates is a matter of contention.

 

One-third of Canadians think Alberta is the greatest threat to national unity, while 50 per cent say it is Quebec. Twenty-three per cent of Canadians expect that Quebec will separate in the next decade, while 19 per cent of Canadians think Alberta will secede in that time.

 

The most troublesome numbers for Prime Minister Justin Trudeau’s government may be that in both Alberta and Saskatchewan 78 per cent believe that Ottawa has “lost touch with average people” from the two provinces.

 

https://nationalpost.com/news/politics/nearly-80-per-cent-of-albertans-think-the-country-is-in-the-midst-of-a-unity-crisis-poll

 

RS Wexit will succeed simply because what we know as Canada will not. Turdeau is no leader but the leadership in the country is extremely weak. The CPC effort to date is a joke and the Liebel caucus has no standouts. 

 

So I say Wexit will succeed as the debt crisis will destroy any semblance of unity in Canada when the finger pointing starts. Social contracts like OAS and CPP are failing now let alone what happens in a sustained global downturn. Most pensions in the country have a ROI of 8% built into their forecasts as that is the number needed to make their actuarial numbers work. IMHO Quebec will fan the flames of Wexit as it supports their own aspirations. AB, SASK, MAN and large parts of BC will see the writing on the wall and move to a separate country. Not necessarily by choice but by necessity.   

[Warhippy]

1 hour ago, Boudrias said:

RS Wexit will succeed simply because what we know as Canada will not. Turdeau is no leader but the leadership in the country is extremely weak. The CPC effort to date is a joke and the Liebel caucus has no standouts. 

 

So I say Wexit will succeed as the debt crisis will destroy any semblance of unity in Canada when the finger pointing starts. Social contracts like OAS and CPP are failing now let alone what happens in a sustained global downturn. Most pensions in the country have a ROI of 8% built into their forecasts as that is the number needed to make their actuarial numbers work. IMHO Quebec will fan the flames of Wexit as it supports their own aspirations. AB, SASK, MAN and large parts of BC will see the writing on the wall and move to a separate country. Not necessarily by choice but by necessity.   

Please, cite your sources that CPP is failing

[JM_]

20 minutes ago, Warhippy said:

Please, cite your sources that CPP is failing

he can't. Its performing very well. 

 

Some of its long term debt is under funded, but there's a plan in place for small payroll increases to deal with it. Next time we get a gov't with a 4 year mandate it will happen, regardless of the party. 

[Warhippy]

1 hour ago, Jimmy McGill said:

he can't. Its performing very well. 

 

Some of its long term debt is under funded, but there's a plan in place for small payroll increases to deal with it. Next time we get a gov't with a 4 year mandate it will happen, regardless of the party. 

To my knowledge the CPP is actually currently one of the benchmark pension plans in the entire globe.  So when someone makes such a grand statement I always want to see the numbers

[Curmudgeon]

56 minutes ago, Warhippy said:

To my knowledge the CPP is actually currently one of the benchmark pension plans in the entire globe.  So when someone makes such a grand statement I always want to see the numbers

CPPIB is one of the world's largest sovereign wealth funds and one of the world's largest investors in private equity, having invested over US$28.1 billion between 2010 and 2014 alone. As of September 30, 2019, the CPP Investment Board manages over C$409 billion in investment assets for the Canada Pension Plan on behalf of 20 million Canadians.

 

 

In December 2013, the Chief Actuary reaffirmed that the CPP is sustainable throughout the 75-year timeframe of his 2012 report. Over this long timeframe it is expected that there will be periods where returns are above or below this threshold.

 

The CPP total assets are projected to reach the following levels according to the 2012 actuarial report: (in assets):

• $175 billion by 2013.
• $300 billion by 2020.
• $518 billion by 2030.

 

Edit: I suppose this is the Alberta vision of what federal government failure looks like. I think he might be confusing failure of CPP with failure of the Alberta Heritage Fund. You know, the one that successive Alberta conservative governments mismanaged.

[Ronaldoescobar]

50 minutes ago, Curmudgeon said:

CPPIB is one of the world's largest sovereign wealth funds and one of the world's largest investors in private equity, having invested over US$28.1 billion between 2010 and 2014 alone. As of September 30, 2019, the CPP Investment Board manages over C$409 billion in investment assets for the Canada Pension Plan on behalf of 20 million Canadians.

 

 

In December 2013, the Chief Actuary reaffirmed that the CPP is sustainable throughout the 75-year timeframe of his 2012 report. Over this long timeframe it is expected that there will be periods where returns are above or below this threshold.

 

The CPP total assets are projected to reach the following levels according to the 2012 actuarial report: (in assets):

• $175 billion by 2013.
• $300 billion by 2020.
• $518 billion by 2030.

 

Edit: I suppose this is the Alberta vision of what federal government failure looks like. I think he might be confusing failure of CPP with failure of the Alberta Heritage Fund. You know, the one that successive Alberta conservative governments mismanaged.

exactly this ^

 

I work / have worked with many people coming from CPPIB and have found nothing short of the upmost professionalism and focus from any of them. (mainly portfolio managers & analysts who have now brought similar returns to my clients as well as my firms private portfolios). These people have of course been replaced at CPPIB by similar individuals who continue to manage the portfolio to the envy of many governments.To say they have or are failing i dont think is accurate.

That said, what retirees see in the form of their pension benefits is not the same rate of return that the CPPIB delivers as it is based on your contribution period and the rate, which may be the reason for some confusion. (IE when the CPP started the contribution rate was 3.6% since then it has risen to approx 10% and you only needed to contribute for 10 years back then to get full benefits but that has risen to approx 39 years currently. These will both affect the personal retiree's real ROR).

Edited February 14, 2020 by Ronaldoescobar

[Chicken.]

17 minutes ago, Ronaldoescobar said:

exactly this ^

 

I work / have worked with many people coming from CPPIB and have found nothing short of the upmost professionalism and focus from any of them. (mainly portfolio managers & analysts who have now brought similar returns to my clients as well as my firms private portfolios). These people have of course been replaced at CPPIB by similar individuals who continue to manage the portfolio to the envy of many governments.To say they have or are failing i dont think is accurate.

That said, what retirees see in the form of their pension benefits is not the same rate of return that the CPPIB delivers as it is based on your contribution period and the rate, which may be the reason for some confusion. (IE when the CPP started the contribution rate was 3.6% since then it has risen to approx 10% and you only needed to contribute for 10 years back then to get full benefits but that has risen to approx 39 years currently. These will both affect the personal retiree's real ROR).

Wow you made a serious post for once, very informative!

 

So one must work and contribute to CPP for 39 years to reap the full benefits... for example from age 21- 60. The boomers sure got the nice end of the stick here it seems.

[kingofsurrey]

10 minutes ago, Chicken. said:

Wow you made a serious post for once, very informative!

 

So one must work and contribute to CPP for 39 years to reap the full benefits... for example from age 21- 60. The boomers sure got the nice end of the stick here it seems.

Boomers always come out ahead.

 

I wonder if that is 39 years of full time work... or does part time count.   I always though CPP would be based on how much you contributed... then

capped.

 

Found this. ...  - interesting.. read - https://www.empire.ca/complete-guide-canada-pension-plan-cpp

 

General Drop Out

At some point or another, most Canadians experience periods of lower income for various reasons, such as unemployment, deciding to attend University, or taking time away from work to care for a family member. Therefore, the Canada Pension Plan automatically drops the lowest 17% (or up to eight years of earnings) from your CPP base calculation. 

 

This provision is automatically applied to all those who contribute to the CPP. You do not need to apply for it.

 

Edited February 14, 2020 by kingofsurrey

[Ronaldoescobar]

30 minutes ago, Chicken. said:

Wow you made a serious post for once, very informative!

 

So one must work and contribute to CPP for 39 years to reap the full benefits... for example from age 21- 60. The boomers sure got the nice end of the stick here it seems.

Yeah once in a blue moon I pull out a constructive post but youre right most of the time i just mess around on these boards (mainly the political threads that have divided us so much unfortunately).

 

Yep the boomers and those before were the fortunate ones for sure. I mean a 45.5% real ROR if you retired in 1969 vs probably 3% currently ouch....  That said, it seems in a few ways (not all) they were easier/more fortunate times back then (including being able to get a job to support a family with only a high school education if one even had that).

Edited February 14, 2020 by Ronaldoescobar

[Warhippy]

2 hours ago, Curmudgeon said:

CPPIB is one of the world's largest sovereign wealth funds and one of the world's largest investors in private equity, having invested over US$28.1 billion between 2010 and 2014 alone. As of September 30, 2019, the CPP Investment Board manages over C$409 billion in investment assets for the Canada Pension Plan on behalf of 20 million Canadians.

 

 

In December 2013, the Chief Actuary reaffirmed that the CPP is sustainable throughout the 75-year timeframe of his 2012 report. Over this long timeframe it is expected that there will be periods where returns are above or below this threshold.

 

The CPP total assets are projected to reach the following levels according to the 2012 actuarial report: (in assets):

• $175 billion by 2013.
• $300 billion by 2020.
• $518 billion by 2030.

 

Edit: I suppose this is the Alberta vision of what federal government failure looks like. I think he might be confusing failure of CPP with failure of the Alberta Heritage Fund. You know, the one that successive Alberta conservative governments mismanaged.

So in essence said person was absolutely shooting wind by calling it a failure?

[kingofsurrey]

8 minutes ago, Warhippy said:

So in essence said person was absolutely shooting wind by calling it a failure?

Not shooting wind..... more like passing GAS .... LOL 

[Boudrias]

21 hours ago, Warhippy said:

Please, cite your sources that CPP is failing

I was recently at a conference where Martin Armstrong of Armstrong Economics spoke. His concern over failing pension plans both government and private is global not just the CPP. Governments world wide are debasing their currencies thru QE. When you see figures like the CPP being worth $300 B now and worth $540 B in 10 years it doesn't really mean a lot if the buying power of that dollar has seriously eroded. Armstrong consults with central banks all over the world.

 

Google his name and read some of his conclusions. You can choose whether to believe him or not. I do not believe the assumptions that the CPP publish. These are the same people who regularly assume inflation of 2% or less. Review the forecasted rates of return over even the next 10 years. When pension funds have mandated % levels of bonds that yield 2% or less tell me how they will get returns of 8% in their overall portfolios. It is one thing to assume these funds will not fail but they are already doing so at the municipal level in the USA and in the EU. 

 

As I said I am not interested in debating you. It is a subject that all citizens should be concerned about and should investigate. 

[Warhippy]

3 hours ago, Boudrias said:

I was recently at a conference where Martin Armstrong of Armstrong Economics spoke. His concern over failing pension plans both government and private is global not just the CPP. Governments world wide are debasing their currencies thru QE. When you see figures like the CPP being worth $300 B now and worth $540 B in 10 years it doesn't really mean a lot if the buying power of that dollar has seriously eroded. Armstrong consults with central banks all over the world.

 

Google his name and read some of his conclusions. You can choose whether to believe him or not. I do not believe the assumptions that the CPP publish. These are the same people who regularly assume inflation of 2% or less. Review the forecasted rates of return over even the next 10 years. When pension funds have mandated % levels of bonds that yield 2% or less tell me how they will get returns of 8% in their overall portfolios. It is one thing to assume these funds will not fail but they are already doing so at the municipal level in the USA and in the EU. 

 

As I said I am not interested in debating you. It is a subject that all citizens should be concerned about and should investigate. 

UH huh.  This runs literally along side your statement of BC pissing away tens of/hundreds of billions in LNG money that never existed.

 

You don't have to be interested in debating me.  As I am not debating you.  I am literally calling you out on your statements that are not only not based on fact but outright falsehoods.  There is no debate.  You're wrong.  You're telling an untruth.  there is no evidence outside of anecdotal to support your statement.  

 

I might add your only statement here in support of your prior one is to point your finger at the US and EU which in no way has anything to do with what the CPP is doing.

 

For the record, I still cannot find the billions and billions BC pissed away from the LNG fund that never existed

 

Edit**. I am reading up on Armstrongs pension statements.  You really should be retracting your statements here as they have nothing to do with defined taxpayer benefited pension plans like the CPP but instead have everything to do with Defined Benefit Plans vs Defined Contribution plans...in America.  At the state levels.  He then goes on to speak of how the government is propping up private pension plans for workers by pumping tax dollars in to them.  More socialism or?  Again...not supportive at all of your statement what so ever

 

https://www.armstrongeconomics.com/world-news/pension-crisis/the-pension-crisis-is-starting-to-explode/

 

https://www.armstrongeconomics.com/world-news/pension-crisis/pension-crisis-congress-is-unable-to-act-because-of-gridlock/

Edited February 15, 2020 by Warhippy