Our Future Debt Problems.

The guy does a great job of explaining how the National Debt is going to cripple our Kids Economy.

Caution: you may some of the numbers disturbing :)

Note the difference in the foreboding between a PM with both a bachelor’s degree (1985) and a master’s degree (1991) in economics and a Liberal Finance Minister with a bachelor of arts degree in Russian history and literature from Harvard University and a master of studies degree in Slavonic studies from St Antony's College, Oxford as a Rhodes Scholar in 1993...a former Journalist.. HaHa..


https://www.youtube.com/watch?v=auieRQt5USM

"The first thing that should be reassuring", she say's? Nothing she say's is "reassuring"!

Lol. Where to begin.....
Let’s start with recent history and the best predictor of future behaviour...
When had the left ever thought beyond tomorrow?
Did Liberals consider that following 2008, sunny days wouldn’t last forever...and massive debt blah blah.

Harper.
Looks surprisingly good. He’s aged well

Got 30 more seconds to plant a seed.

There is actually a pretty simple and straightforward solution.

Taxation. To help offset the massive debt should have been jacked on the certain things/groups 12 months ago. But, we all know how much the L and R would howl about that.....difference being, the R wouldn’t have made the bed in the first place

AND this is exactly why I'm working off my debt, and not paying record dollar for a cottage ... people are acting like this impending storm is not coming. Stock markets on crack right now, house prices going through the roof ...

It's all got to come to a point where it crashes down, doesn't it? Unless 1+1 no longer equals 2?? Am I missing something?

Quote:

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Originally Posted by MarkB

AND this is exactly why I'm working off my debt, and not paying record dollar for a cottage ... people are acting like this impending storm is not coming. Stock markets on crack right now, house prices going through the roof ...

It's all got to come to a point where it crashes down, doesn't it? Unless 1+1 no longer equals 2?? Am I missing something?

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Mark the stock market is like playing at a casino unless your one of the big boys. Real estate has been a no brainer and I think with 1.4 million immigrants coming over and no place to live, it will be for some time.

Copied from FB.
John Bennett I just had a meeting with an HVAC contractor and a plumbing contractor this morning and both said we haven't seen nothing yet. Stock yards and store shelves will be empty before autumn.

Everyone recall Snowwalkers warning about truck parts?

I know inventories in our world are extremely low. as a result prices are soaring. Our RV guy soaked a couple for $60,000 profit....auctions likewise insane. Crazy prices to buy used trucks/ ans competing against US buyers. Had a guy two weeks whose ago truck broke down. Repair too expensive so he needed a truck to tow his boat, ATV, trailer....Couldn’t afford the truck....

And so on

Meanwhile in Ottawa, no plan to jumpstart the economy ( gee maybe manufacturing might have been important) , no clue what to do, but to dig the hole deeper and punish those making the crap that keeps the world moving....

just saying

Could not afford the truck, to tow his boat or ATV? Sounds like he prefers his toys, to transportation. I have been looking at getting a new truck. Lots of new truck deals out there , that are better than last year, when I first showed interest, to be had.

Missing the point G.no doubt in your world HVAC and plumbing just appears because you buy it. Kinda like buying red meat and against hunting. It’s just there magically.

lumber? Wasn’t there a recent thread. And do houses
not meed lumber, hvac and plumbing? ever wonder where that stuff comes from? Manufacturing plants?

snowalkers post about semis breaking down and repairs taking weeks not days?

And with respect to your anecdotal expert knowledge. You know better than the professionals whose business it is to attend auctions ?

Know better than dealerships who know how much inventory they would normally have this time of year?
one of are RV lots would normally have 300 today. If there’s 40 I’d be surprised...

Know one dealer that sells trucks exclusively. He had 50% on the lot.

Know one of ours, that could only get two 2021s. They’d normally...

And I see what dealerships are paying....and what they are selling for. But you know better. I defer

Almost forgot. The wife picked her new ride Tuesday night. I won’t name the make/model. Will just that particular make, we own 4 dealerships.

Zero in stock.
We had to buy wholesale from another dealer..good thing she has an insider....
but you know better...

Point being.
Whether new vehicles, new toys, hvac/plumbing parts, lumber.

All need to be made for you.
You so you can buy a new house, a new car, a new toy, a new AC, or furnace..

Looks towards Ottawa.....and no plan, but pile on debt..
Looks at Ontario
Have nots and MF
Carbon taxes

Quote:

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Originally Posted by fishermccann

Could not afford the truck, to tow his boat or ATV? Sounds like he prefers his toys, to transportation. I have been looking at getting a new truck. Lots of new truck deals out there , that are better than last year, when I first showed interest, to be had.

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I don't think so. I can sell my 2018 silverado 4x4 dbl cab for more today (with 72k on it) than I paid for it brand new. Paid 34,500 + tax. Same truck in a 2021 you can't touch for under 44,500 + tax. These aren't MSRPs - these are the best price a dealer will give you.

Quote:

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Originally Posted by Gilroy

Mark the stock market is like playing at a casino unless your one of the big boys. Real estate has been a no brainer and I think with 1.4 million immigrants coming over and no place to live, it will be for some time.

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OK but what about affordability in the property market ... what happens when the interest rate is 6% or 7%?

Quote:

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Originally Posted by MarkB

OK but what about affordability in the property market ... what happens when the interest rate is 6% or 7%?

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The Bank of Canada is not going to raise rates till at least late 2022. The stress test right now is already at 4.89%, I am not a big financial guy and I am sure JBEN will keep me on track in what I say.

Werner
“Yep”

We have trucks on our lot. What we are paying...........so guess what consumers are paying. And given the “times”...think margins are widening or tightening...
Just nuts.

Wranglers?
Crazy stupid. And American buyers are happy to pay CDN prices, in USD. Making a bad situation worse...

Even wholesale. Why would dealer A, sell to dealer B at cost plus a wee bit when demand>>>>>>>>>>supply. I’m nope, we like you but why would I make a few hundred when I can gross 10k. I have bills and people to pay too...

Anywho that’s just my world. And everything needs parts...be it vehicles or lumber, or hvac or A to Z
And no only did we stick our heads in the sand around 2008. Help MF down the toilet...

We’re doing it again, when we’re going to need it the most. And just cant tie his own shoe laces is going to hammer industry and consumers with Carbon Taxes, no plan, nada, but more and more debt....

Yeh there are a few parts being held up in the Suez Canal right now.

Quote:

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Originally Posted by Gilroy

The Bank of Canada is not going to raise rates till at least late 2022. The stress test right now is already at 4.89%, I am not a big financial guy and I am sure JBEN will keep me on track in what I say.

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I think, despite the current stress test, if the mortgage rate did go to 4.89%, lots of people would be in big, big trouble.

Quote:

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Originally Posted by Gilroy

The Bank of Canada is not going to raise rates till at least late 2022. The stress test right now is already at 4.89%, I am not a big financial guy and I am sure JBEN will keep me on track in what I say.

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Lol, I don't much care what others think, say etc Terry. Do "care" when being chirped at and or something is plain redicluous

No real clue here what the BoC might do. If I was right 70% of the time I'd own my own Island or be helping helping with policy there. That said, the stress test aren't (imo) what we should focus on. The banks responses for prime rate, will almost certainly be based on inflation. More on this is a sec..

However, they like everyone else know if they push people and companies ( I'm sure there are companies out there now too, that are stretched thin) to far, it could touch off a snowball racing downhill no-one is safe from and all bets would be off on the outcome and where/how/when the dust might settle.

But basically, inflation won't happen (though were seeing some now) until the economy is in full swing or near capacity. Generally speaking there are 3 main causes of inflation.

Go back to 2008 and all the arguments about McGuinty spending his wad. Same discussions/fears...Just wait, rates will go up. I distinctly remember saying....Careful what you wish for....With growth in the economy and jobs, comes inflationary pressures.
Still waiting for both solid growth in the economy, and or hikes in rates.
/looks at "stuff"...Im thinking its going to be one heck of a long time before the economy is robust.

Regarding the vid and its not worth getting too in depth over. But he was talking about long terms bonds and what happens when the maturiting bond gets rolled . Well thats where yield curves come in ad potentially derivatives though to be honest I'm not sure how many/much the gov't utilizes structured products to mitigate interest rate risk. I'm thinking.....they do

Just the middle class will get screwed lol. Keep raising them taxes keep making more taxes and see what happens . Keep paying for nothing?
A little song about the the middle class
https://youtu.be/Xo0MSJjUf2Y

Sent from my CLT-L04 using Tapatalk

Good Visual of our future economy when we can no longer service our debt :


This image collage that visualizes Venezuelan Hyperinflation.
Those are the amounts of money needed to buy this pastry, from March 2019 (Top left) to April 2020 (Bottom right)

https://i.imgur.com/GFfb66Zm.jpg

There is no question that hyperinflation will appear at some time - the only question is when - when the government keeps printing money like it is doing it is just kicking the can down the road until the road ends - when that happens your money will be near worthless and it will be better to own things that are of value - I think one of the most stable and best things to have when that happens is having land

She's the evil witch of the left. Granddad was a collaborator of the reich.
She's making Papa proud, member of WEF hellbent on destroying and, "Resetting", our country.

Speaking about resetting a country - think of this - it's true - a representative in California was interviewed - she was an immigrant from Haiti - told of growing up in a dirt floored hut - came to America and started a small business - did good and eventually ran for congress and won - when asked about her goals she said - she like to change America - unbelievable -

Quote:

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Originally Posted by MarkB

I think, despite the current stress test, if the mortgage rate did go to 4.89%, lots of people would be in big, big trouble.

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I'd agree with that.

Quote:

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Originally Posted by JoePa

There is no question that hyperinflation will appear at some time - the only question is when - when the government keeps printing money like it is doing it is just kicking the can down the road until the road ends - when that happens your money will be near worthless and it will be better to own things that are of value - I think one of the most stable and best things to have when that happens is having land

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That’s a discussion that is beginning to be held more in the public domain.

There are numerous assets that by and large are “immune” to inflation. The most obvious being real estate. What segment of soceity typically is mortgage free? The 10-20% with the 1%,owning sprawling mansions, cottages, ski chalets, and French villas?

Is $1 today, worth what it was 25 years ago? Lol, nope. Are mortgage amounts indexed to inflation? Nope.

So when you make your last payment on that $500,000 mortgage. The dollar paying off the debt, is worth maybe .50 of the original 500,000 dollars borrowed. In other words, over the years as the dollar is being devalued, your mortgage payments remain the same. Paying off the loan with money that’s worth less and less.

Sweet deal if your one of the few that pull it off

"Is $1 today, worth what it was 25 years ago? Lol, nope. Are mortgage amounts indexed to inflation? Nope."

Apples and oranges, mortgage rates were a tad over 10% back then.

Glad that’s settled.

Now I’d ask, if the 1% with their sprawling mansions/cottages/ski chalets are making money hand over fist off it, at it..Especially with the way money has been printed the last 5, 20, 50 years......

The 5% who own homes in the bridle path? Cottages on Roseau? The 10%...the 15%
The rest. Thanks for playing.

Now I might also, suggest. Where do so many of the 10% live? And where are house prices just going stupid ballistic. “Thanks for playing”

Etc and so on.

Quote:

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Originally Posted by fishermccann

OMG .He is even answering himself now.

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Well when one converses with liberals, it is probably best that one answers his or her own question or questions as it is the only way one will get a intelligent response to the question one asked.

Or the answer you want. Lol.

With this running the show nothing positive for our country
https://www.facebook.com/groups/9568...7963131739141/

Quote:

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Originally Posted by Tigboy 304

Well when one converses with liberals, it is probably best that one answers his or her own question or questions as it is the only way one will get a intelligent response to the question one asked.

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That is quite possibly true, see below for examples. If the question is about budgets, firearms, ethics, SNC, WE and a variety of other topics the answers will not be forthcoming and you have someone with an attitude like McKenna saying asking questions is bad.

The Liberals since they were in have added atleast $20,000,000,000 to the INTEREST payments (nothing to do with paying down, just the interest) to our debt and most of it last year and with the Prime rate at 2.45% and the talk of inflation there is a huge house of cards and at some point someone is likely to open the window (increased unemployment, increased interest) and with the carbon tax increase it is almost like they are trying to create mass bankruptcies. Of course if they did a "you will own nothing and be happy" contract will seem appealing to many. The many being the deepest in debt beyond hope and the uneducated and the owners of essential huge businesses and gov't that wants power.

I know budgets and math will confuse the left but hey, let's try anyway. JUST the debt created last year is $360B and at a flat annual percentage of 2.45 we get $8,820,000,000 in interest, take that to 5% and we are talking $18B in NEW interest payments by the federal gov't alone. Not let's look at the estimates (not likely to be accurate, but hey it's something) **NOTE an annual FLAT INTEREST, NOT COMPOUNDED

https://www.canada.ca/en/treasury-bo...estimates.html
Of the 122 organizations in these Estimates, 6 are seeking more than $5.0 billion in budgetary expenditures:

Department of National Defence ($21.8 billion);
Department of Indigenous Services ($12.7 billion);
Department of Foreign Affairs, Trade and Development ($7.1 billion);
Treasury Board Secretariat ($6.0 billion);
Office of Infrastructure of Canada ($5.7 billion); and
Department of Veterans Affairs ($5.2 billion

SO ... for the $8.9B in new debt INTEREST (just a reminder again, not down payment, just paying the INTEREST on the NEW debt), where will they be getting that money? The economy is held together with wet tissue paper, investment in Canada is buying suitcases and shipping containers to move and carbon tax increases going up... OH and the PM and Libs made sure to get their automatic pay increases next month.

and these are the leaders and how they answer questions.....

“A people that elect corrupt politicians, imposters, thieves and traitors are not victims... but accomplices” George Orwell

and the attitude of so many accomplices... let's stick with our leftist that chose a better path.

The further a society drifts from the truth, the more it will hate those who speak it - George Orwell


Traitors, accomplices, attacks on the law abiding and firearm bans... I wonder what George would say

“That rifle on the wall of the labourer's cottage or working class flat is the symbol of democracy. It is our job to see that it stays there.” ? George Orwell


Austerity, honest, integrity, openness ... RIP and it seems so much for the symbol of democracy too.


https://www.youtube.com/watch?v=lXtOwt-sITY
https://www.youtube.com/watch?v=oQmnsXzWD0M

Well as far as out debt and interest payments are concerned and with the way China, North Korea and Russia have been acting lately one never knows maybe ww3 will come to be and hopefully as in the past wars we Come out on top again with our great allies and it can be all written off as bad debt.

Quote:

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Originally Posted by Tigboy 304

Well as far as out debt and interest payments are concerned and with the way China, North Korea and Russia have been acting lately one never knows maybe ww3 will come to be and hopefully as in the past wars we Come out on top again with our great allies and it can be all written off as bad debt.

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Well there is that too.... China and Iran just signed a huge agreement and Iran is already tied to Russia.

China is pushing in the South China sea.
200 Ship
https://www.facebook.com/watch/?v=749132509302255
20 military planes
https://www.theguardian.com/world/20...itary-aircraft

We see what 1 ship can do to the Suez canal and the Panama canal is likewise vulnerable making shortage of some items possible and relatively easily achieved when looking at it.

As long as everyone is willing to keep the game going we are OK, as soon as a significant player wants to disrupt the game there will be a big problem. The game's problem is that some of the players want more and more power and wealth. The other problem being that some players play fairly or atleast moderately fair while others have no problem with cheating, killing, violence in general, the value of human life etc. That is summed up in that there are those that just can't see that evil IS evil. The leaders that are selfish children, the leaders that are snakes or lions in the grass waiting their chance and the leaders that can't figure out which shoe goes on which foot. The WEF "opportunity", the Communist plan, the Jihadist .... things are just adding more and more cards to the huge house. We will see where the house collapses, whether it all collapses or how and what parts will get stronger but Canada under this leadership is currently doing all it can to make it's house weaker and unbalanced to the detriment of the future.