Canada and Ontario's debt - servicing debt, $10B more than pensions each year.

[trimmer21]

Awe,what's a few billion between pals? What's the worst that can happen? The whole thing is a hair's breadth from total collapse,anyway, health care,energy,manufacturing,transportation,but,what they hey? There's bugger all we can do Bout it,now. Just sit back,relax, watch the show and wait for the other shoe to drop. It won't be long,now.......

[JBen]

And theres that to Trimmer.
Of coarse, this time it's Wall Street and CEOs to blame right?

Thinks about 2,4,6 years and some of us kept talking about dark clouds on the horizon, and the position we would be in. Global instability, sluggish economies...

The Dog wags the tail.


http://business.financialpost.com/ne...recaster-warns

Many are predicted that every penny the loony drops will cost us and extra 1% and change for produce.
Guess farmers aren't all that important.....Guess trucking isn't all that important....guess manufacturing isn't all that important.

I suppose if theres any good news in all this, if things keep going to the same direction.
There will be soooooooo many people on social assistance, declaring bankruptcy we will be taking forced retirements and living off the backs of govt for a change. Of coarse Im not sure who will supporting govt then....

Look out if rates change.
PS the US is hiking, the BoC cutting (another cut due Jan 20).
That will make the USD more attractive than the CAD to, and the slide will just get worse. Though at this point thats likely a small mercy, if rates start heading north on top of everything else...

[mosquito]

Yep, the dollar went below $.70 ($1.43CAD to buy $1 US) and in Windsor hospitals are laying off staff....
http://windsorstar.com/news/local-ne...-staff-shakeup

Wynne lying...
http://www.torontosun.com/2016/01/12...er-report-says

bridges failing etc... what next is a good question
http://www.torontosun.com/2016/01/12...rals-what-next
"The scary thing is that between their cap-and-trade carbon pricing scheme and Ontario pension plan — both scheduled for 2017 — the Liberals are poised to take billions of dollars annually out of the pockets of Ontarians."


P.S.
The guy on BNN on tv gave a $.59 forecast and said there is more downturn ahead.

[warpipe]

It's not all doom and gloom. We have a new Ontario pension plan to look forward to. Saad Rafi has been named to head the all new Ontario Pension Plan Administration Corporation and he's only making $525 grand a year with the chance of up to a 25% bonus. I'm so relieved Ontario's financial future is in the steady hands of Kathleen Wynne. What could possibly go wrong?

[JBen]

For the Gords out there. I personally know fund and pension managers or close to that don't earn $700,000 or have pensions . Some/may do might and in truth if it comes in Id rather someone who is worth that much than some hack...only time will tell...but...

A teacher screws up ( we know G has defended PS because they are so highly educated) and whats the worst..
A person in charge of peoples lives savings?
Hmmmm

The ORPP really gets under my skin. Using farmers because its possible they might get hammered if they start taxing diesel.

So a teacher who earns the duo mean of 75k Sounds fair. ( I really don't know but sounds it)..also has a gold plated pension that's heavily funded by that same "farmer" who bust his backside, sunrise to sunset 365/year

Teachers got 2% (well really a little more given higher salary = higher Pension contributions = more tax payer monies)
Farmer...Well maybe squat the past few years.Maybe that "farmer" actually took cuts given "realities" these past 8 years....
diesel taxes say of .20 on the litre....OUCH!
Teacher...life goes on
Farmer...Carbon tax on pick up too...lets say .10 litre
Teacher..? Well depends..do they take the TTC to work......Do they drive miles and miles to the nearest store/town??? Fair bet I think said "farmer" puts way more mileage on his truck than said teacher puts on their prius.

Farmer goes down another notch

ORPP
Teacher...doesnt touch her/him
Farmer...-2%

If the farmer takes home 75k, thats another 1,500 per year. On top of so many other things these days.
What happens if he dies?
Thanks for playing.

Yep, all those studies that show many things are BS, just right wing propaganda.

Better idea.
'Farmers" have been heavily subsiding PS pensions for decades......
Maybe it's time PS including the lofty ones (our MPs and their best friends) get, subsides a pension for the "farmers" of Ontario. Say 0.5% to 1% each for a change and if it blows up.....well atlas the farmers won't be screaming for a change.

Fair is fair
Right?

[JBen]

And for safeties sake.
1) really don't know what teachers make, nor care much. Only used them because as always they've been in the news lately and wanted to illustrate "teachers" this year +2% (and more due the DBPs)...."Farmers"....who knows but many in private are going backwards and -2% for "them". Each time the economy goes in the crapper a little or a lot...guess who gets dinged....."teachers"....not so much

2) Things like the TTC (also subsidized) vs reality of life for those outside the GTA ( Pick up trucks)

Hydro?
How often does it go out in the Golden TO...Rural Ont?
See the issues with Hydro one and smart meters or over billing?

Healthcare?
Well read the link Mosquito provided on Windsor regional. Nurses being laid off, practical nurses being hired (they are cheaper) and over all 160 job losses. Why?
20million funding shortfall
Why?...Well areas with lower population growth (Rural Ont) are getting less, larger places getting more..Why?

Because for the past 15 years a bunch of clowns and crooks have been running the province when they shouldn't be running lemonade stands, and who elects them, campaigns for them?????

We all know

[terrym]

And for safeties sake.
1) really don't know what teachers make, nor care much. Only used them because as always they've been in the news lately and wanted to illustrate "teachers" this year +2% (and more due the DBPs)...."Farmers"....who knows but many in private are going backwards and -2% for "them". Each time the economy goes in the crapper a little or a lot...guess who gets dinged....."teachers"....not so much

2) Things like the TTC (also subsidized) vs reality of life for those outside the GTA ( Pick up trucks)

Hydro?
How often does it go out in the Golden TO...Rural Ont?
See the issues with Hydro one and smart meters or over billing?

Healthcare?
Well read the link Mosquito provided on Windsor regional. Nurses being laid off, practical nurses being hired (they are cheaper) and over all 160 job losses. Why?
20million funding shortfall
Why?...Well areas with lower population growth (Rural Ont) are getting less, larger places getting more..Why?

Because for the past 15 years a bunch of clowns and crooks have been running the province when they shouldn't be running lemonade stands, and who elects them, campaigns for them?????

We all know

Homophobe.

[mosquito]

Another $475 million....

http://news.nationalpost.com/full-co...energy-blow-up
Another Ontario green energy blow-up

Debris from the exploding Ontario Liberal green energy rocket continues to land on the hapless citizens of the province. Gas plant scandals, soaring power rates, declining electricity output, massive subsidies to money-losing wind and solar, non-stop bafflegab from government ministers: when will it stop? Not now, and maybe never.

Details of the latest meteorite-sized chunk of the Dalton McGuinty/Kathleen Wynne green power blow-up are on display at the blog of energy consultant Tom Adams, who formerly served on the Ontario Independent Electricity Market Operator board of directors and the Ontario Centre for Excellence for Energy board of management
Adams picks up a story that made brief headlines in late 2012 when Windstream Energy, a U.S. company, filed a NAFTA complaint claiming $475 million in damages. The company says it had a contract with the government-controlled Ontario Power Authority at 19 cents a kilowatt/hour to build an offshore wind farm near Wolf Island in Lake Ontario near Kingston.

[mosquito]

.... and now... the HIDDEN debt

http://business.financialpost.com/fp...than-you-think
While this accounting process helps spread the cost over many years, it can disguise the amount of money governments add to their debt burden in a particular year. Ultimately, governments can add more debt to their books for capital projects than from the operating deficit announced in the budget.
...

In Ontario, the projected operating deficit for 2015/16 is $7.5 billion, but the change in net financial position is $13.7 billion — a difference of 83 per cent

[JBen]

Also released to today


The very far left Broadbent Institute paints a stark picture for many who are without Pensions.
http://www.cbc.ca/news/business/reti...tute-1.3450084

And a Fraser Institute report/Survey on discretionary funds for many, living pay check to pay check
http://business.financialpost.com/ne...lls-poll-finds

With soaring Hydro, taxes and more, is it truly any wonder people can't save, are getting crushed.
remind me again who is crushing the middle class and peons and who campaigns and have benefitted largely and who get very uptight. But hey, those getting crushed...Lets throw them under the bus. We are the left, champions of the working class and social conscious