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1st Liberal Budget Gives Canada a $29 Billion Deficit this Year and $118.6 Billion Over 5 Years


DonLever

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13 minutes ago, Neversummer said:

C'mon ... even the people with the biggest man crush on Trudeau has got to think this is nutz !!  

I didn't think it would be that big, but the idea that this country can run anything close to a balanced budget right now is even more nuts.

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47 minutes ago, nuckin_futz said:

You're going to be a very old man with a long white beard down to your knees before that ever happens.

 

You might have had a point if interest rates were set on the open market. They are not. They are set/manipulated by central banks.

 

The damage done by the financial crisis has largely been forgotten because markets have come back up and unemployment is relatively tame as is inflation. It's come at the cost of massive amounts of debt. Central banks literally cannot raise interest rates anywhere close to the levels you've suggested. The landscape has actually changed and not by a little.

Housing costs? 

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9 minutes ago, Neversummer said:

Surely, there can be a bit of compromise ... how about $10B per year instead of like $23B/yr?

Based on the economy pretty much remaining stagnant. That number could very well change.

 

At least they're not trying to sugar coat it or make false projections.

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18 minutes ago, CanadianLoonie said:

Housing costs? 

Come on you know better than this. Since when was inflation measured by 1 metric? Sure housing is nutty in Vancouver and Regina, it's tame in Calgary and Halifax.

 

Inflation as a WHOLE is tame.

 

If you have a response please respond with your own words and not a picture/meme.

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1 minute ago, nuckin_futz said:

Come on you know better than this. Since when was inflation measured by 1 metric?

 

If you have a response please respond with your own words and not a picture/meme.

Yes, it is...the true definition of inflation is an increase in the supply of money, not an increase in general price levels.

 

To do so is to confuse cause and effect, akin to taking an antipyretic to treat a fever, but ignoring the fact that the fever is caused by an infection, and so the symptom is addressed but the underlying cause of that effect is not.

 

And how about a graph?

 

canada-money-supply-m3.png?s=canadamonsu

27 minutes ago, nuckin_futz said:

Sure housing is nutty in Vancouver and Regina, it's tame in Calgary and Halifax.

 

Inflation as a WHOLE is tame.

The Cantillon Effect does not necessarily have to show up evenly across the land and equally across all asset classes and consumer goods/services...

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2 hours ago, DeNiro said:

Based on the economy pretty much remaining stagnant. That number could very well change.

 

At least they're not trying to sugar coat it or make false projections.

if you think these figures aren't already sugar coated your dreaming

 

this is the budget. Theres no way they stay within this. The liberals have already proven that not only can they not do math based on their election budgets, but they lack very little foresight on other non monetary promises (*cough* legalizing weed *cough*)
 

JT: "i really wanted to legalize weed guys but it turns out i'm not actually allowed to..."

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2 minutes ago, cdubuya said:

if you think these figures aren't already sugar coated your dreaming

 

this is the budget. Theres no way they stay within this. The liberals have already proven that not only can they not do math based on their election promises, but they lack very little foresight on other promises (*cough* legalizing weed *cough*)
 

JT: "i really wanted to legalize weed guys but it turns out i'm not actually allowed to..."

Lol there's literally no evidence to suggest this. 

 

Baseless accusations are fun! 

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3 minutes ago, J.R. said:

Lol there's literally no evidence to suggest this. 

 

Baseless accusations are fun! 

http://www.theglobeandmail.com/report-on-business/economy/liberals-to-concede-tax-plan-wont-add-up/article27628146/

 

 

http://www.torontosun.com/2015/12/20/broken-promises-piling-up-for-trudeau

 

 

http://www.newsweek.com/justin-trudeau-legal-weed-marijuana-canada-415384

 

 

wasn't that hard to find either...

 

 

 

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6 minutes ago, cdubuya said:

That it will be a difficult and lengthy process to legalize Marijuana should not be a surprise to anyone. He can't simply waive a magic wand. 

 

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3 hours ago, nuckin_futz said:

You're going to be a very old man with a long white beard down to your knees before that ever happens.

 

You might have had a point if interest rates were set on the open market. They are not. They are set/manipulated by central banks.

 

The damage done by the financial crisis has largely been forgotten because markets have come back up and unemployment is relatively tame as is inflation. It's come at the cost of massive amounts of debt. Central banks literally cannot raise interest rates anywhere close to the levels you've suggested. The landscape has actually changed and not by a little.

Well I have that white beard you spoke of :) and I am sure hopin' your right.  I do have a very long memory and if international oil companies can manipulate oil prices like they do, rest assured, banks can manipulate interest rates as well.  Look at the cost per barrel of oil right now.  Is there any reason why we pay over a dollar a litre right now?  Manipulation straight up and given a chance, banks will pull the same BS if it means vast profit. Never say never.  I recall my father having a mortgage on his house at the rate of 1/2 percent locked in.  His mortgage payments were under fifty bucks a month. He held onto that mortgage forever as using the money to pay out a few thousand dollars could be invested at 20% at short term.  That was in the early eighties when mortgage rates hit just under twenty percent and many people lost their homes.  Here is hoping you are right.

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1 minute ago, Benchsplinters said:

Well I have that white beard you spoke of :) and I am sure hopin' your right.  I do have a very long memory and if international oil companies can manipulate oil prices like they do, rest assured, banks can manipulate interest rates as well.  Look at the cost per barrel of oil right now.  Is there any reason why we pay over a dollar a litre right now?  Manipulation straight up and given a chance, banks will pull the same BS if it means vast profit. Never say never.  I recall my father having a mortgage on his house at the rate of 1/2 percent locked in.  His mortgage payments were under fifty bucks a month. He held onto that mortgage forever as using the money to pay out a few thousand dollars could be invested at 20% at short term.  That was in the early eighties when mortgage rates hit just under twenty percent and many people lost their homes.  Here is hoping you are right.

Taxes...local refining capacity dynamics...taxes...

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35 minutes ago, cdubuya said:

if you think these figures aren't already sugar coated your dreaming

 

this is the budget. Theres no way they stay within this. The liberals have already proven that not only can they not do math based on their election budgets, but they lack very little foresight on other non monetary promises (*cough* legalizing weed *cough*)
 

JT: "i really wanted to legalize weed guys but it turns out i'm not actually allowed to..."

If he wanted to sugar coat it he would have just claimed the 10 billion dollar deficit he originally proposed.

 

Kind of like how Harper kept saying the budget would be a surplus despite every critic saying it was impossible.

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25 minutes ago, Benchsplinters said:

Well I have that white beard you spoke of :) and I am sure hopin' your right.  I do have a very long memory and if international oil companies can manipulate oil prices like they do, rest assured, banks can manipulate interest rates as well.  Look at the cost per barrel of oil right now.  Is there any reason why we pay over a dollar a litre right now?  Manipulation straight up and given a chance, banks will pull the same BS if it means vast profit. Never say never.  I recall my father having a mortgage on his house at the rate of 1/2 percent locked in.  His mortgage payments were under fifty bucks a month. He held onto that mortgage forever as using the money to pay out a few thousand dollars could be invested at 20% at short term.  That was in the early eighties when mortgage rates hit just under twenty percent and many people lost their homes.  Here is hoping you are right.

Like Loonie said, taxes, refining capacity and more taxes.

 

When was the last time you heard of a refinery being built? Yet every year there are more cars on the road. More cars = more demand for gasoline, yet the supply can't keep up.

 

As for central banks. Let's just use this basic example. If you had a credit card and it was maxed and you just kept upping the limit and getting more credit and you controlled the interest rate you got charged. Would you ever raise the rate to 10%?

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