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Liberal Minority Government 2019 - ????

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Brihard said:
Yup, and this long period of extremely low interest, coupled with the financial pressures of the pandemic, will only exacerbate that. I know there’s been a lot of angst at the increased criteria for the mortgage stress test, but it’s probably prudent.

I recognize I’m in a privileged position to say that, my wife and I having two government jobs and being completely financially secure. I don’t want him ownership to be harder for others to achieve. But I do fear a lot of people from our generation who’ve never experienced interest over 5% getting themselves in over their heads.

Not this cat, my entire life is contained in a 10x15ft Ottawa Dymon storage room. I have zero credit card debt, no mortgage and no vehicle payment. So this deployment is all bank.

Once I get back to Canuckistan I'll be purchasing a motorbike and doing a Civil War tour (if the Covid allows it). Then upon retirement (early 2022), I'll be buying a Motorhome and live the nomadic lifestyle for a few years. 
 
FSTO said:
Not this cat, my entire life is contained in a 10x15ft Ottawa Dymon storage room. I have zero credit card debt, no mortgage and no vehicle payment. So this deployment is all bank.

Once I get back to Canuckistan I'll be purchasing a motorbike and doing a Civil War tour (if the Covid allows it). Then upon retirement (early 2022), I'll be buying a Motorhome and live the nomadic lifestyle for a few years.

Tiny side bar, what kind of bike are you thinking of picking up?

I'd love to pick up a motorhome, something about them is really fascinating. Never afford it though.

I don't know anything about money and financing but I have a few friends in their early to middle 30s and the stress of buying a home seems pretty bad.
 
Brihard said:
Yup, and this long period of extremely low interest, coupled with the financial pressures of the pandemic, will only exacerbate that. I know there’s been a lot of angst at the increased criteria for the mortgage stress test, but it’s probably prudent.

I recognize I’m in a privileged position to say that, my wife and I having two government jobs and being completely financially secure. I don’t want him ownership to be harder for others to achieve. But I do fear a lot of people from our generation who’ve never experienced interest over 5% getting themselves in over their heads.

I doubt you will ever see interest rates rise like that again.  It would instantly bankrupt many and leave the Government holding the mess.  If anything, we may eventually see negative interest rates.

FSTO said:
Not this cat, my entire life is contained in a 10x15ft Ottawa Dymon storage room. I have zero credit card debt, no mortgage and no vehicle payment. So this deployment is all bank.

Once I get back to Canuckistan I'll be purchasing a motorbike and doing a Civil War tour (if the Covid allows it). Then upon retirement (early 2022), I'll be buying a Motorhome and live the nomadic lifestyle for a few years. 

This is my way.  My spouse and I live in a one bedroom.  After PLD, I am paying $500.00 a month for my apartment.  The vast majority of my money just gets pumped in to the markets.

I've been diversifying lately in to Crytpo and Gold as well, have a small portion of my portfolio allocated to those commodities.
 
Humphrey Bogart said:
I doubt you will ever see interest rates rise like that again.  It would instantly bankrupt many and leave the Government holding the mess.  If anything, we may eventually see negative interest rates.

This is my way.  My spouse and I live in a one bedroom.  After PLD, I am paying $500.00 a month for my apartment.  The vast majority of my money just gets pumped in to the markets.

I've been diversifying lately in to Crytpo and Gold as well, have a small portion of my portfolio allocated to those commodities.

Slight derail but you can explain the underlined and highlighted portion ?  It this essentially being paid to borrow ?  I dont understand the concept!  Thanks in advance!

Like the previous posters my wife and I are in government jobs (Federal and Provincial) we are very lucky, but we also worked hard to get into the position we are financially. 
 
Humphrey Bogart said:
Government debt isn't the problem in Canada, it's household debt that is the issue.  Many are overleveraged and it is ultimately a drain on long term growth.

So with any criticism of Canada maybe we should have a look at the link I posted earlier on this thread, once again-

https://dailyhive.com/vancouver/canada-ranked-best-country-quality-life-2019

-so we can have a look at the factors that go into making the decision on which countries excel and which don't.

A good job market
Affordability
Economic stability
Family friendly
Income equality
Politically stable
Safety
Well-developed public health system
Well-developed public education system

The countries following closely behind Canada should be an indication of what our priorities should be to maintain our high standing.

All this is of course, in the opinion of those who publish this kind of statistical information.
 
Well this raises the stakes,......not sure they want this though.
https://globalnews.ca/news/7268645/we-charity-bloc-quebecois-fall-election/

"Bloc Quebecois Leader Yves-Francois Blanchet says Prime Minister Justin Trudeau, Finance Minister Bill Morneau and Katie Telford, the prime minister’s chief of staff, must resign.
If they do not, he vows to try to force an election this fall.
Blanchet’s remarks on Wednesday came as the House of Commons is set to return for one of its four scheduled summer sittings amid the coronavirus pandemic, which also comes as the government is engulfed in controversy over the WE Charity scandal.
It also comes amid questions being raised about a rent relief contract that an arms-length Crown corporation awarded to a company that employs the husband of Katie Telford, Trudeau’s chief of staff."

MORE AT LINK
 
>All this is of course, in the opinion of those who publish this kind of statistical information.

Only if you agree with their premises.  Some people value liberty more than safety.
 
>[Negative interest rates] It this essentially being paid to borrow ?

Yes; sometimes it is expressed as "being paid to store".  Mainly it is something done by a central bank with respect to major institutions, not by major institutions with respect to small account holders.  The point is to encourage spending and other investment rather than saving.
 
Brihard said:
I didn’t miss the point. Yes, it needs to get ‘settled’ - generally through bing renewed with new government bonds. At present rates it’s sustainable.

If you think a comparison to other G7 countries is ‘whataboutism’, you haven’t fully grasped the concept. I’m not throwing a red herring in here to distract. I’m adding the contextual clue that, in contrast with fiscal policies and public debt of other major economies, we’re in pretty decent shape.

Canada’s public debt is still well within the bounds of what the financial system seems willing to consider prudent, as evidence by the government maintaining a very solid credit rating. This is determined by those whose entire education and career is dedicated to understanding money on the macro scale, and who are trusted to advise the biggest money managers on the prudence of lending to any given borrower. I put some stock in that.

While I don’t *like* seeing our government debt increasing, that doesn’t detract from the objective fact that those whose job it is to manage money do not appear particularly alarmed by our country’s financial state.

Hi Brihard

While true that our government has a solid credit rating, S & P Global Ratings kept the AAA rate, it was downgraded by Fitch Ratings Inc to AA+ with a stable outlook. Perhaps stable would be a better term than solid.
 
If they want an election lets have one.  I often read comments like the public doesn't have any appetite for an elect but why not?  I like all the election drama and I like going out to vote.  If they lose they lose but I will laugh my ass off if the Liberals win a majority.

 
Bruce Monkhouse said:
Well this raises the stakes,......not sure they want this though.
https://globalnews.ca/news/7268645/we-charity-bloc-quebecois-fall-election/

"Bloc Quebecois Leader Yves-Francois Blanchet says Prime Minister Justin Trudeau, Finance Minister Bill Morneau and Katie Telford, the prime minister’s chief of staff, must resign.
If they do not, he vows to try to force an election this fall.
Blanchet’s remarks on Wednesday came as the House of Commons is set to return for one of its four scheduled summer sittings amid the coronavirus pandemic, which also comes as the government is engulfed in controversy over the WE Charity scandal.
It also comes amid questions being raised about a rent relief contract that an arms-length Crown corporation awarded to a company that employs the husband of Katie Telford, Trudeau’s chief of staff."

MORE AT LINK

Might make sense for the Bloc.  The Liberals have been stung by multiple ethics issues, the NDP is invisible and the Conservatives are in disarray and without a leader.  Great opportunity for them to increase their seat count in Quebec at the expense of all three other parties.  If the national vote splits go the right way they may even have the opportunity to once again become Her Majesty's (dis-)Loyal Opposition.
 
All this talk about libs vs. cons. All I know for sure that the LPC is not the liberal party of Pearson. It has gone far-left closer to the NDP. As for the cons, all they do well is form a circular firing squad and shoot each other. However, this article lists the bad liberals attiitude towards Canadians who criticize lib policies.

7 Examples Of The Liberals Demonizing Canadians & Purposely Stoking Anger
https://spencerfernando.com/2020/08/11/7-examples-of-the-liberals-demonizing-canadians-purposely-stoking-anger/

The Trudeau Liberals have been the most divisive government in Canadian history, regularly trying to turn Canadians against each other by demonizing people and bringing hypocrisy to a massive level.

While the Liberals try pretending they are victims of this anger, they are the ones purposely stoking the anger the most, in pursuit of their selfish political benefit.

Here are seven examples of the Liberals demonizing Canadians and purposely stoking anger:

- Trudeau Excludes Conservatives from crisis talks, disenfranchises millions

“Trudeau excluded Andrew Scheer and the Conservatives from CCP Virus Crisis talks, insulting and disenfranchising everyone who voted Conservative (the party that won the popular vote).”

- Bill Morneau called Lisa Raitt a “neanderthal.”

“WATCH this exchange in Ottawa yesterday, where conservative Lisa Raitt challenges finance minister Bill Morneau over his fake-feminist budget, Morneau responds by saying he finds her questions “OFFENSIVE” and then goes on to call her a “NEANDERTHAL.” What a pathetic little man.”

-Ahmed Hussen called Lisa MacLeod “un-Canadian” for opposing illegal border crossings.

“After Lisa MacLeod – the Ontario Minister Responsible for Immigration – made clear that the Ford government wants border enforcement, and had the toughness to criticize the fact that illegal crossers are cutting in line ahead of those following legal processes, Hussen went on the attack.

He called MacLeod “Un-Canadian,” and insanely accused her of “fear mongering,” even though he’s obviously the one trying to scare and divide Canadians by demonizing those of us who want the border secured.”

-Catherine McKenna implies Conservatives aren’t People or Canadians

“Across Canada, people agree that climate change is a threat to our country. I don’t understand why the Conservatives are hesitant to join Canadians in the fight against climate change. We’ll keep working with Canadians as we move forward with our practical and affordable plan.”

McKenna’s rhetoric here is very dangerous.

Note how she says “people agree” that climate change is a threat. Then, she says Conservatives won’t “join Canadians” to fight against it.

Do you see what she’s doing here?
She is using rhetoric to imply that Conservatives are neither people, nor Canadian.

-Trudeau attacks Albertans, says Canada “belongs” to leaders from Quebec

“Trudeau said Canada “belongs” to leaders from Quebec, while saying “Canada isn’t doing well right now because it’s Albertans who control our community and socio-democratic agenda. It doesn’t work.”

-Trudeau demonizes Canadian construction workers

“While in Argentina, Justin Trudeau did some more disgusting virtue-signalling.
He was talking about ‘gender budgets’ when he started to demonize construction workers.
He implied that having “male construction workers” in a “rural areas” had “social impacts.”

As if it wasn’t clear enough where Trudeau was going with his sexist rhetoric, he later said “women entrepreneurs make better choices.””

-Gerald Butts compares Trudeau critics to ‘Nazis’

Butts did this while working for the Liberal government. Trudeau did nothing.
 
Brad Sallows said:
>All this is of course, in the opinion of those who publish this kind of statistical information.

Only if you agree with their premises.  Some people value liberty more than safety.

Can you expand on what you mean Brad? The factors listed which are judged to constitute a high quality of life are defining liberty.

A good job market
Affordability
Economic stability
Family friendly
Income equality
Politically stable
Safety
Well-developed public health system
Well-developed public education system

That is, none of the countries in question are occupied by a foreign enemy.
I may be wrong but I take it from that comment that you suggest Liberal party supporters are more concerned with safety then they are concerned with liberty. Are you associating 'safety' with a lack of gun related violence?

The last 5 of the factors listed seem to be pointedly devised to discredit the US and/or conservatism.
 
It appears all leaders were in the house today, all except the PM. He's taken the opportunity to spend time at the cottage.
 
Anything requiring intervention necessarily infringes on liberty.  Some interventions, like police intervening to halt a crime, are at one extreme of what people find tolerable (vs intolerable).  Interventions designed to level outcomes (eg. income equality) are tolerated less, and generally require tyranny to achieve.  And safety, or security, is a pursuit with no end.  There is always more safety that can be achieved by adding more safeguards and restrictions.
 
Chief Engineer said:
It appears all leaders were in the house today, all except dear leader. He's taken the opportunity to spend time at the cottage.

In fairness he's probably entertaining guests who will be receiving sole sourced government contracts in the future.

He's just networking.
 
I and the other 38 million Canadians are sobbing with joy that the PM gets to take a break from his 100 % dedication to making our life better.

 
Jarnhamar said:
In fairness he's probably entertaining guests who will be receiving sole sourced government contracts in the future.

He's just networking.

PPE anyone?  :rofl:
 
Bruce Monkhouse said:
Well this raises the stakes,......not sure they want this though.
https://globalnews.ca/news/7268645/we-charity-bloc-quebecois-fall-election/

"Bloc Quebecois Leader Yves-Francois Blanchet says Prime Minister Justin Trudeau, Finance Minister Bill Morneau and Katie Telford, the prime minister’s chief of staff, must resign.
If they do not, he vows to try to force an election this fall.
Blanchet’s remarks on Wednesday came as the House of Commons is set to return for one of its four scheduled summer sittings amid the coronavirus pandemic, which also comes as the government is engulfed in controversy over the WE Charity scandal.
It also comes amid questions being raised about a rent relief contract that an arms-length Crown corporation awarded to a company that employs the husband of Katie Telford, Trudeau’s chief of staff."

MORE AT LINK

Oh Bruce, don't you know by now that nobody in Canada gives a shit about the back door dealings of Versailles, as long as the CERB keeps flowing and the Cool Sock of the Week Club keeps delivering?
 
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