$15 Dollar Minimum Wage is Coming to the US, will Canada Follow?

[Hugor Hill]

I thought Harper was trying to put a stop to that as of last month.

What's his plan?

[thejazz97]

What's his plan?

If re-elected, Harper's Conservative government would spend half a million dollars next year collecting data on how many foreign investors are snatching up homes across the country — a topic of heated debate recently, especially in Vancouver, where the average price of a detached home is over one million dollars.

During an event in that city this week, Harper suggested the Tories are ready to work with the provinces to ensure that the purchase of homes by foreign, non-resident investors doesn't impact the "availability and affordability of homes for Canadians."

[CIBC economist Benjamin] Tal called the promise to collect more data "very positive," saying that "regardless of who wins this election, this is something that we desperately need."

However, he said it's unlikely that foreign investment — which tends to be focused on the high-end, luxury segment of the real estate market — is having a notable impact on the affordability of average homes.

Full article here.

[TOMapleLaughs]

Half a million for some BS study. But massive cuts to things that actually matter. Yup.

[Realtor Rod]

No. Foreign investors are driving up the market in Vancouver and Toronto. The banks are prudent.

It doesn't matter who is buying, it is a lack of inventory. I won't argue with you though, you must know my industry better than I. As I write this, I am waiting a house for a Chinese buyer, as a foreign investor. There is no inventory to show them.

[NucksCelts]

A sensible solution.

But real estate prices have absolutely nothing to do with the min wage. Working min wage will never buy you any property, not in Toronto anyways.

We've escalated from being able to support ourselves to being able to own a home awfully quick. I am also against earning things.

[ronthecivil]

So in an environment where we're flirting with unemployment, near or full on recession, and the spectre of deflation, you want to RAISE entry level job rates?

Aren't young people already finding a hard time starting out?

Once again I have a feeling Canadians will only learn the hard way......

[Mr. Ambien]

So in an environment where we're flirting with unemployment, near or full on recession, and the spectre of deflation, you want to RAISE entry level job rates?

Aren't young people already finding a hard time starting out?

Once again I have a feeling Canadians will only learn the hard way......

No one ever accused them of being smart.

[TOMapleLaughs]

Speaking of not smart, questions are rising on why Harper is running a surplus in the middle of a recession.

http://www.cbc.ca/news/business/analysis-of-government-s-announced-budget-surplus-1.3227370

Surplus during recession seems like bad economic planning: Don Pittis

Not just anti-Keynesian, but the complete opposite.

If the time for deficit spending is when the economy is in recession, then the Harper government seems to have got it backwards.

According to the latest figures, during the years when Canada was reaping the staggering benefits of an oil and commodities boom, the government piled on more debt. We now know that it was only after the economy began shrinking and needed help that the government squeezed out a surplus.

But nobody ever said the Conservatives were smart.

[John Tortorella]

So in an environment where we're flirting with unemployment, near or full on recession, and the spectre of deflation, you want to RAISE entry level job rates?

Aren't young people already finding a hard time starting out?

Once again I have a feeling Canadians will only learn the hard way......

This

And lol at harpers idea to solve housing

The reason our housing is so fkd is the international countries(aka china) who are buying our land dont play by same rules.

and OMFG LOLOL if 15$ and hour will help that. Chinese buy our land using profits from essentially exploiting their own citizens. We would never allow these practices in canada but we allow the money earned on these practices to be spent on capital purchases. Increase our lowest wages and then the businesses expenses go up, and the end profit is lower. Then you expect that same person with reduced profits to be able to afford a home in a market that reflects dollars a day wages paid to its citizen.

Its insane how ignorant and lost most are on macro/micro economy knowledge. "15$ is more money and then we can afford a house"

One day we will all be financially intelegent.

[Mr. Ambien]

This

And lol at harpers idea to solve housing

The reason our housing is so fkd is the international countries(aka china) who are buying our land dont play by same rules.

and OMFG LOLOL if 15$ and hour will help that. Chinese buy our land using profits from essentially exploiting their own citizens. We would never allow these practices in canada but we allow the money earned on these practices to be spent on capital purchases. Increase our lowest wages and then the businesses expenses go up, and the end profit is lower. Then you expect that same person with reduced profits to be able to afford a home in a market that reflects dollars a day wages paid to its citizen.

Its insane how ignorant and lost most are on macro/micro economy knowledge. "15$ is more money and then we can afford a house"

One day we will all be financially intelegent.

The government has most certainly been stupid when it comes to the housing market.

I kept reading for years about how this is not a bubble and blah blah yadda yadda.. is there any doubt now? I guess the detractors gave up trying to convince everyone else of this lie.

Speaking of not smart, questions are rising on why Harper is running a surplus in the middle of a recession.

http://www.cbc.ca/news/business/analysis-of-government-s-announced-budget-surplus-1.3227370

But nobody ever said the Conservatives were smart.

Can you explain to me in your own words why a surplus is bad, whether in a recession or not?

Surplus is a sign of being more productive than consuming, on top of being fiscally responsible. I can't see how this is a bad thing. Maybe economic experts like yourself can enlighten us peons.

[John Tortorella]

The government has most certainly been stupid when it comes to the housing market.

I kept reading for years about how this is not a bubble and blah blah yadda yadda.. is there any doubt now? I guess the detractors gave up trying to convince everyone else of this lie.

Can you explain to me in your own words why a surplus is bad, whether in a recession or not?

Surplus is a sign of being more productive than consuming, on top of being fiscally responsible. I can't see how this is a bad thing. Maybe economic experts like yourself can enlighten us peons.

Sure. A governments fiscal goal is to keep gdp growth at the potential line. When gdp is below (recession) the government has ability to increase the gdp by creating public infanstructure, essentially creates jobs to increase consumers gdp. When a government cuts spending and has a surplus and this signals that we are in inflation(which we are not) and the gov is attempting to slow the economy. Essentially not spending money directly by gov has the effect of slowing gdp.

Gdp formula= gov + consumer + investments + net exports

Bank of canada did lower interest rates to bottom which helps the investments from corporation and also prompts purchases by consumers but causes banks to lower their investments because they have less availiable money (as consumers pull money out in low interest periods)

Basically simple macroecon 102

Gov spends to promote economy when below potential gdp

Gov spends less to promote slowing economy when above potential gdp