Comments on: The inevitable http://www.greaterfool.ca/2009/07/29/the-inevitable/ Book and Weblog - Authored by Garth Turner Wed, 08 Feb 2012 19:37:53 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Solitario http://www.greaterfool.ca/2009/07/29/the-inevitable/comment-page-2/#comment-37389 Solitario Sun, 02 Aug 2009 13:18:54 +0000 http://www.greaterfool.ca/?p=3057#comment-37389 "Thanks for proving you have no idea what you were talking about. The bulk of domestically-held debt is in the hands of instritutional, not retail, investors. This has zero to do with pensionless Boomers selling real estate to finance retirement requirements. — Garth" Institutional investors...you mean mutual funds and pension funds (Ontario's Teachers..., Quebec's Caisse) and insurance companies? I didn't say the boomers own $500 billion worth of bonds directly... As for the boomers property dump, we shall see... This wouldn't be the first time when you'd be wrong in a debate with me...actually, thinking about all the disagreements we had over the years (I warned you about Harper, I opposed Afghanistan, I complained about your FIRST vote on income trusts destruction, I complained about your support for Dion's carbon tax…), I was mostly right and you were mostly wrong... I do admit you stand a better chance of being right this time- you were a Minister of Finance, not me… actually, I’ll take that back!- Flaherty just came to mind…he's the living proof being Minister of Finance in Canada doesn’t require any qualification…and it doesn’t offer any special insight… “Thanks for proving you have no idea what you were talking about. The bulk of domestically-held debt is in the hands of instritutional, not retail, investors. This has zero to do with pensionless Boomers selling real estate to finance retirement requirements. — Garth”

Institutional investors…you mean mutual funds and pension funds (Ontario’s Teachers…, Quebec’s Caisse) and insurance companies? I didn’t say the boomers own $500 billion worth of bonds directly…

As for the boomers property dump, we shall see…

This wouldn’t be the first time when you’d be wrong in a debate with me…actually, thinking about all the disagreements we had over the years (I warned you about Harper, I opposed Afghanistan, I complained about your FIRST vote on income trusts destruction, I complained about your support for Dion’s carbon tax…), I was mostly right and you were mostly wrong…

I do admit you stand a better chance of being right this time- you were a Minister of Finance, not me…

actually, I’ll take that back!- Flaherty just came to mind…he’s the living proof being Minister of Finance in Canada doesn’t require any qualification…and it doesn’t offer any special insight…

]]> By: Solitario http://www.greaterfool.ca/2009/07/29/the-inevitable/comment-page-2/#comment-37366 Solitario Sun, 02 Aug 2009 02:27:37 +0000 http://www.greaterfool.ca/?p=3057#comment-37366 "Link? Or did you just make that up? — Garth"... Deduction.The link below is from 2000. http://highered.mcgraw-hill.com/sites/dl/free/0070897875/48078/rosen2_ichap3.pdf Page8: 17% of federal debt ($96B) and 55% of provincial debt ($139) was external. The situation didn't change much in the last 9 years. Whatever Paul Martin managed to pay back in a decade, Flaherty pissed away in two years. I believe total government net debt (not taking into account surpluses from Canada's and Quebec pension funds) in Canada (fed+ prov+ local) is currently about $800B, with about $300B external. I have good reason to believe the boomers own the rest. Obviously, I'd be very interested to know your opinion about Canada's debt, internal and external. <em>Thanks for proving you have no idea what you were talking about. The bulk of domestically-held debt is in the hands of instritutional, not retail, investors. This has zero to do with pensionless Boomers selling real estate to finance retirement requirements. -- Garth</em> “Link? Or did you just make that up? — Garth”…

Deduction.The link below is from 2000.

http://highered.mcgraw-hill.com/sites/dl/free/0070897875/48078/rosen2_ichap3.pdf

Page8: 17% of federal debt ($96B) and 55% of provincial debt ($139) was external.
The situation didn’t change much in the last 9 years. Whatever Paul Martin managed to pay back in a decade, Flaherty pissed away in two years.
I believe total government net debt (not taking into account surpluses from Canada’s and Quebec pension funds) in Canada (fed+ prov+ local) is currently about $800B, with about $300B external.
I have good reason to believe the boomers own the rest.
Obviously, I’d be very interested to know your opinion about Canada’s debt, internal and external.

Thanks for proving you have no idea what you were talking about. The bulk of domestically-held debt is in the hands of instritutional, not retail, investors. This has zero to do with pensionless Boomers selling real estate to finance retirement requirements. — Garth

]]> By: Solitario http://www.greaterfool.ca/2009/07/29/the-inevitable/comment-page-2/#comment-37359 Solitario Sun, 02 Aug 2009 00:04:18 +0000 http://www.greaterfool.ca/?p=3057#comment-37359 70% of boomers do not have pensions...maybe so. But they own about 2/3 of Canada's government debt. Only about 1/3 is external debt. <em>Link? Or did you just make that up? -- Garth</em> 70% of boomers do not have pensions…maybe so.
But they own about 2/3 of Canada’s government debt. Only about 1/3 is external debt.

Link? Or did you just make that up? — Garth

]]> By: My_view http://www.greaterfool.ca/2009/07/29/the-inevitable/comment-page-2/#comment-37348 My_view Sat, 01 Aug 2009 16:57:05 +0000 http://www.greaterfool.ca/?p=3057#comment-37348 #90 Solitario, I agree, the boomer dump! Not going to happen. The boomers are the wealthiest generation ever, period. YES, SOME WILL SAY HOUSE RICH! At least they have pensions and will swap diggs if need be. I look at it different. I SEE $$$$$$, LEGACIES WILL EXCHANGE HANDS! <em>In fact 70% of Boomers do not have pensions, and the bulk of their net worth is in houses. The dump is coming. -- Garth</em> #90 Solitario,

I agree, the boomer dump! Not going to happen. The boomers are the wealthiest generation ever, period. YES, SOME WILL SAY HOUSE RICH! At least they have pensions and will swap diggs if need be. I look at it different. I SEE $$$$$$, LEGACIES WILL EXCHANGE HANDS!

In fact 70% of Boomers do not have pensions, and the bulk of their net worth is in houses. The dump is coming. — Garth

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