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Thread: Trudeau has to go?

  1. #641
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    Quote Originally Posted by Cagare View Post
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    I never thought you were agreeing, but the idea of raising taxes to control growth is hilariously insane.
    I shouldn't have said growth but rather inflation.

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    Quote Originally Posted by Buster View Post
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    I shouldn't have said growth but rather inflation.
    Ironically, raising taxes increases inflation, not stifles it.

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    Quote Originally Posted by Buster View Post
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    doubtful. Canada has to maintain loose monetary policy in order to pay its own debts. More likely this all just squirts out as inflation/stagflation for a long period of time. MMT implies that we have to significantly raise income taxes during the good times to control growth, rather than raise rates.

    Welcome to countries run by retards.
    Inflation of what? Asset inflation? Price of goods inflation? Because with the latter, the BoC will have no choice but to raise the prime rate, because if the price of goods rises, it means that the CAD$ is worth less, because less people outside of Canada are demanding our goods and services, and that lowers the demand for the dollar, and that can spiral into the price of goods inflating even more, and the only way to stop that is to raise the prime rate so that non-Canadians buy our debt.

    Oh BTW, the price of goods has been inflating.

    I'll add a bit more:

    We are basically in the same pickle as what Trudeau Sr did. It's the reason why from the late 70s to the mid-90s rates were so high here.

    We are already seeing this. Check provincial bond rates. Some provinces are selling bonds at almost 10% (heck, maybe they are now, I haven't checked in a month or so).

    The difference these days is Alberta. Our oil and gas brings in a tremendous amount of foreign currency, thank jebus. Transmountain has to be finished ASAP so that we can export even more.
    Last edited by suntan; 02-13-2021 at 11:43 AM.

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    Quote Originally Posted by suntan View Post
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    Inflation of what? Asset inflation? Price of goods inflation? Because with the latter, the BoC will have no choice but to raise the prime rate, because if the price of goods rises, it means that the CAD$ is worth less, because less people outside of Canada are demanding our goods and services, and that lowers the demand for the dollar, and that can spiral into the price of goods inflating even more, and the only way to stop that is to raise the prime rate so that non-Canadians buy our debt.

    Oh BTW, the price of goods has been inflating.

    I'll add a bit more:

    We are basically in the same pickle as what Trudeau Sr did. It's the reason why from the late 70s to the mid-90s rates were so high here.

    We are already seeing this. Check provincial bond rates. Some provinces are selling bonds at almost 10% (heck, maybe they are now, I haven't checked in a month or so).

    The difference these days is Alberta. Our oil and gas brings in a tremendous amount of foreign currency, thank jebus. Transmountain has to be finished ASAP so that we can export even more.
    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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    Quote Originally Posted by Buster View Post
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    They have gone all-in on MMT magic beans and we don't quite know where that takes us. It's not good though.
    We do actually know where that takes us, as this is the same song and dance played out by countries like Hungary, Germany, Poland, Venezuela, etc in the past. Just using a fun new name to pitch the same shitty idea. You can't print your way out of debt, it just leads to all of us standing in bread lines and starving.

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    Quote Originally Posted by Misterman View Post
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    We do actually know where that takes us, as this is the same song and dance played out by countries like Hungary, Germany, Poland, Venezuela, etc in the past. Just using a fun new name to pitch the same shitty idea. You can't print your way out of debt, it just leads to all of us standing in bread lines and starving.
    Ordinarily, yes - but because CAD is so dependent on the 'black ops' known as American dollar, which itself is tied to, and manipulated, in incalculable ways, there is no direct path, as above.

    One of the key terms I have seen mentioned more lately, is money velocity, as a metric to pay closer attention to.

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    Quote Originally Posted by revelations View Post
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    Ordinarily, yes - but because CAD is so dependent on the 'black ops' known as American dollar, which itself is tied to, and manipulated, in incalculable ways, there is no direct path, as above.

    One of the key terms I have seen mentioned more lately, is money velocity, as a metric to pay closer attention to.
    You're going to have to pick a side when it comes to the importance of velocity of money.

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    Quote Originally Posted by revelations View Post
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    Ordinarily, yes - but because CAD is so dependent on the 'black ops' known as American dollar, which itself is tied to, and manipulated, in incalculable ways, there is no direct path, as above.

    One of the key terms I have seen mentioned more lately, is money velocity, as a metric to pay closer attention to.
    If we are simply praying and relying on the US devaluing their dollars as much as we do, we are still in big trouble.

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    Quote Originally Posted by Misterman View Post
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    We do actually know where that takes us, as this is the same song and dance played out by countries like Hungary, Germany, Poland, Venezuela, etc in the past. Just using a fun new name to pitch the same shitty idea. You can't print your way out of debt, it just leads to all of us standing in bread lines and starving.
    Yes I'll finally become a millionaire and then use that millions for one shopping trip for a week of food.
    Can't wait.

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    Me and you:
    Hyperinflation.jpg
    Quote Originally Posted by Tik-Tok View Post
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    I'd be lying if I said I didn't disagree.

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    Quote Originally Posted by Buster View Post
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    You're going to have to pick a side when it comes to the importance of velocity of money.
    yes, there is no consensus on the short term implications. But in totality, the global financial system IS heading for a reset/collapse, but HOW it manifests is TBD.

    Quote Originally Posted by Misterman View Post
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    If we are simply praying and relying on the US devaluing their dollars as much as we do, we are still in big trouble.
    definitely in trouble, however as Harper mentioned, the inflation is starting in places where the average consumer isnt noticing as much.

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    Quote Originally Posted by revelations View Post
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    definitely in trouble, however as Harper mentioned, the inflation is starting in places where the average consumer isnt noticing as much.
    Frog in a pot of boiling water is the analogy that I keep hearing. Warm it up slowly enough and maybe we won't even notice that we're all f*cking broke.

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    Quote Originally Posted by davidI View Post
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    Frog in a pot of boiling water is the analogy that I keep hearing. Warm it up slowly enough and maybe we won't even notice that we're all f*cking broke.
    Unfortunately there is nothing slow about how Trudeau is destroying our fiscal system.
    Originally posted by Thales of Miletus

    If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
    Originally posted by Toma
    fact.

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    Quote Originally Posted by killramos View Post
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    Unfortunately there is nothing slow about how Trudeau is destroying our fiscal system.
    That is because to him it is all just one giant public trust fund. It's why budgets balance themselves. He is used to the bank account magically replenishing every time it hits empty and thinks that's normal.
    Bob Blakeborough

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    Quote Originally Posted by davidI View Post
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    Frog in a pot of boiling water is the analogy that I keep hearing. Warm it up slowly enough and maybe we won't even notice that we're all f*cking broke.
    Definitely. They're only pulling a few levers every other adjustment.
    Adjust min wage (look like hero's), next Adjust tax rates (tax rich and middle class more, look like bigger hero's.), next adjust tax brackets so capture more people into the higher brackets along with the min wage group.
    They're slowly going at it but pulling the wool over everyone's eyes.

    Like City of Calgary lowering speed limits. Small steps at a time. Soon we're all getting passed by escooters.

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    Quote Originally Posted by tirebob View Post
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    That is because to him it is all just one giant public trust fund. It's why budgets balance themselves. He is used to the bank account magically replenishing every time it hits empty and thinks that's normal.
    It seems 60% of Canadians are enjoying their "spa bath" as the water heats up - Lib/NDP/Green still polling over 60% despite the colossal spending and vaccine F'ups (not to mention We-Gate & SNC-gate): https://newsinteractives.cbc.ca/elec...racker/canada/

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    Agreed. Liberals still poised to form next government. Voters that matter not worried.
    Quote Originally Posted by Tik-Tok View Post
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    I'd be lying if I said I didn't disagree.

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    Come on over to Team Shred-Confederation guys!

    The water isn't so warm.

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    Sure is salty though!

    Just kidding. I think we need eastern Canada just about as much as we need herpes.

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    Quote Originally Posted by Buster View Post
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    Come on over to Team Shred-Confederation guys!

    The water isn't so warm.
    Convince the SW of BC and I'm in.

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