Trudeau has to go?

And people say the Gov't isn't trying to disarm the citizenry. Back to the frog in a pot analogy.....

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Originally Posted by JRSC00LUDE

And people say the Gov't isn't trying to disarm the citizenry. Back to the frog in a pot analogy.....

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Including airsoft and paintball in his last round of bullshit was a mistake. Provinces, municipalities, gun owners, airsoft and paitballers, police groups and even pro gun control groups are all pissed at them over this. And now the reduction in penalties for the poor oppressed POC who need a break when they commit gun crimes, he might have bitten off a bit too much

“Pissed”

They have “pissed off” a niche group of the voterbase who were likely never voting for them in the first place. It’s just standard liberal identity politics, everyone loves banning things that they don’t care about.

Pretty sure the Liberals would treat me better if I actually committed a crime with my guns.

This will all pass with flying colours and by and large Canadians won’t give a fuck about it, just like anything else.

Didn't they give a guy that threw a grenade $10 mil?

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Originally Posted by Buster

Nothing I disagree with here. I'm pointing out that policymakers are viewing things much differently this time. They have gone all-in on MMT magic beans and we don't quite know where that takes us. It's not good though.

The provincial bond thing is interesting. Canadian provinces carry a large portion of our total debt load as far as I know. So we have subnational debt at significant quantities. I see the provincial-national spread as the market indicating their belief as to whether the feds would ever bail out provincial debt - interested in your thoughts there.

Having said that, if federal yields start to rise to any degree then we run into a fiscal crisis pretty fast. I think our federal debt load (and the americans) is quite sensitive to bond yields at this point.

Either way, Canadians are going to find out the hard way, and probably soon, that being a millenial green snowflake is mutually exclusive to living in a country with a bunch of free services funded by exports and OPM.

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All provincial debt is backed by the BoC. Provinces are actually only allowed to carry debt because the feds let them. So really, any prov debt can just be added to the national debt.

Canada bond yields are sorta high - I've seen some almost at 6%. So there's definitely some market trepidation out there. 7% is usually considered almost junk, at least back in the halcyon days of a year ago.

It's amazing how quickly interest rates can turn. Just look at the Russian financial crisis in the late 90s. One day, normal interest rates. Next day, 150% prime rate.

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Originally Posted by suntan

All provincial debt is backed by the BoC. Provinces are actually only allowed to carry debt because the feds let them. So really, any prov debt can just be added to the national debt.

Canada bond yields are sorta high - I've seen some almost at 6%. So there's definitely some market trepidation out there. 7% is usually considered almost junk, at least back in the halcyon days of a year ago.

It's amazing how quickly interest rates can turn. Just look at the Russian financial crisis in the late 90s. One day, normal interest rates. Next day, 150% prime rate.

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In practice, we've never seen a federal bailout of a province since the great depression. I believe the guarantee is more implicit - but happy to be corrected on that point if I'm in error.

This country really is fucked - and I can't believe people think going down with the ship is a better idea than creating a constitutional crisis and blowing up confederation (either as a group or individually).

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Originally Posted by Buster

In practice, we've never seen a federal bailout of a province since the great depression. I believe the guarantee is more implicit - but happy to be corrected on that point if I'm in error.

This country really is fucked - and I can't believe people think going down with the ship is a better idea than creating a constitutional crisis and blowing up confederation (either as a group or individually).

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* cough *

https://www.bloomberg.com/news/artic...-yields-higher

This is basically your dad paying off your CC debt.

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Originally Posted by suntan

* cough *

https://www.bloomberg.com/news/artic...-yields-higher

This is basically your dad paying off your CC debt.

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I cant read that.

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Originally Posted by Buster

I cant read that.

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Have you tried using a browser?

Found it. I think that Provincial bond purchase program was a temporary thing last year? I guess it probably is now temporary in name only.

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Originally Posted by Buster

Found it. I think that Provincial bond purchase program was a temporary thing last year? I guess it probably is now temporary in name only.

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This is from two days ago.

Not surprising as Ontario hit their debt ceiling ages ago.

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Originally Posted by suntan

This is from two days ago.

Not surprising as Ontario hit their debt ceiling ages ago.

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No I mean it was setup last year to be a temporary thing.

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Originally Posted by FraserB

Including airsoft and paintball in his last round of bullshit was a mistake. Provinces, municipalities, gun owners, airsoft and paitballers, police groups and even pro gun control groups are all pissed at them over this. And now the reduction in penalties for the poor oppressed POC who need a break when they commit gun crimes, he might have bitten off a bit too much

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Oh that will be his compromise you watch... He will give those back out of the goodness of his heart hoping people forget about the rest of his bullshit.

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Originally Posted by Buster

No I mean it was setup last year to be a temporary thing.

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Just two more weeks brah.

Wait 'til people are trying to renew their mortgages - at 25%. Yeah that'll work out well for this banana republic gov't.

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Originally Posted by Buster

Alberta's contributions to Canada are significantly more than it would cost to incentivize the construction of a pipeline. Take away billions from Ottawa, and give back a fraction of that to the stakeholders along the route of a pipeline. Develop closer ties to the US. Negotiate trade deals between Alberta/BC/Canada which ensures efficient flow of goods through Alberta to ROC from BC and vice versa.

Alberta's deal with Canada is far, far too costly for what Alberta gets back. Confederation as it stands is a dumb concept, executed dumbly, with dumb people managing it.

Let's assume for a moment that Alberta must at some point transition from an oil economy. Being part of Canada isn't going to benefit that process. If Alberta is successful at doing so, then at that point it definitely won't want to be part of Canada either.

So let's summarize:

1. Oil dependent economy: being part of Canada sucks
2. Transitioning from oil dependent economy: being part of Canada sucks
3. Being successful in a post - oil economy: being part of Canada sucks

This is because Canada doesn't have enough smart people scattered amongst the riff raff to hit that critical mass. The Americans have just as many dumb people, but they have a few policies and enough smart people to be combo breakers for the ritards. Canada, or more accurately Canadians, simply aren't constructed of the stuff needed for a post-commodity economy.

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I don't know why you engage with it. It has shown time and time again that it doesn't understand how taxation works in Canada at all.

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Originally Posted by suntan

Just two more weeks brah.

Wait 'til people are trying to renew their mortgages - at 25%. Yeah that'll work out well for this banana republic gov't.

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So when should everyone lock into the longest term they can?

Or do you just pool as much money as you can elsewhere, and wait for house prices to be worth nothing and walk away from it at renewal?

Where's the smart money? Essentially either houses will be worthless or our currency will be, so where do you hedge your bet?

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Originally Posted by JRSC00LUDE

So when should everyone lock into the longest term they can?

Or do you just pool as much money as you can elsewhere, and wait for house prices to be worth nothing and walk away from it at renewal?

Where's the smart money? Essentially either houses will be worthless or our currency will be, so where do you hedge your bet?

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Precious metals... there is already a discrepancy between physical metal price and paper asset price. Gold is the only storage of value that has survived multiple financial collapses and continues to be traded and hold it's value. Or BTC.. but 70k CND BTC is damn pricey.

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Originally Posted by JRSC00LUDE

So when should everyone lock into the longest term they can?

Or do you just pool as much money as you can elsewhere, and wait for house prices to be worth nothing and walk away from it at renewal?

Where's the smart money? Essentially either houses will be worthless or our currency will be, so where do you hedge your bet?

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Most people will just walk away, credit be damned.

Locked in terms will be pointless. The bank will call in your loan.

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Originally Posted by suntan

Just two more weeks brah.

Wait 'til people are trying to renew their mortgages - at 25%. Yeah that'll work out well for this banana republic gov't.

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Back in the early 80's I remember my parents were paying off property mortgages at like 21%! We ate cheap as fuck, mom would make powdered milk and wore clothes we were outgrowing for a while, but still made it through... lol! I don't know if people could honestly handle that today though. Different times for sure.

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Originally Posted by tirebob

Back in the early 80's I remember my parents were paying off property mortgages at like 21%! We ate cheap as fuck, mom would make powdered milk and wore clothes we were outgrowing for a while, but still made it through... lol! I don't know if people could honestly handle that today though. Different times for sure.

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People can't handle that style of living today, waaaaay too much entitlement. I swear most people have no idea about financing implications. I haven't read anything about how Trudeau plans to afford all the COVID relief, gun buy back and continue to pay off all his family members and buddies. The phrase balanced budget doesn't exist anymore.