Let’s review, shall we?
Stock markets have been on a tear (the Dow’s near at an all-time record level). B&D portfolios have sloughed off the worst pandemic in modern history, political crisis plus near-record volatility. Yawn. S’all good. Commodity prices are rising with oil seeing the best pop in months. Bond yields have started to plump again.
Why?
Vaccines. Three of them now. Distribution chains are being built. The new American president’s first task will be ensure the pandemic, deaths, hospitalizations and economic destruction ends. Yes, it’ll take months. But the direction is clear. We know where we shall be by this time next year. It will be better.
This pathetic blog has reminded you since March that all pandemics are temporary. They hurt. Then they pass. We told you to stay invested. Ignore the noise. Don’t turn temporary paper losses into real ones. Have faith. Trump would be gone. Science would out.
Now it’s assured this will be the case. Global growth will restore. Demand for commodities will rise. Consumer spending and corporate profits will return. And out of this dark time comes dramatic biotechnology – ‘messenger’ vaccines with the potential to improve human life in important new ways. This is why markets are behaving as such. Stocks up. Bonds down. Yields increasing. Inflation will follow as the GDP plumps. Then rates. So, yes, lock in your mortgage now.
$ $ $
“I have been reading your blog for many years – thankful for the guidance!” says Jeremy by way of the MSU.
Question: Is it better to continue with a HELOC of $450k at 3.05% (Manulife One) and put more income towards paying down the principle, or to lock in $450k at a fixed 5yr rate of 2.59% (Manulife One) with an amortization of, say, 20 years for a reasonable monthly payment of just over $2k?
We have had the HELOC since 2008. Have registered and non-registered investments totalling over $300k and contributing to 2 defined benefit pensions. Household income over $200k. Toronto detached house currently worth 1.5 million.
It seems we should just be more diligent to keep saving as much as over the monthly interest payment of the HELOC, which would decrease the principal. We have benefitted from having cash on hand to use and invest but now wish to focus more attention on reducing mortgage debt. Paying too much to the bank…
Face it, a 3% loan rate these days is excessive. Even the big banks are shoveling money out the door at 1.8% (although rates have actually started to sneak higher). But, of course, with a HELOC you need make interest-only payments, while a mortgage is amortized, with blended payments, meaning a portion of the debt is repaid with each one. (If the home equity LOC money was used for an investment, 100% of the monthly interest payments can be deducted from your taxable income.)
First, forget Manulife. Rates are too high and a 2.59% mortgage is excessive. Second, if you have trouble repaying any debt on a $200,000 household income, you’re spending too damn much on frills like children. Buck up. Do a budget. Third, converting the HELOC to a mortgage at a much lower rate with a weekly-pay feature (the correct kind) will let you rapidly reduce the borrowing.
But even without the weekly-pay benefit, the mortgage – while costing you $9,000 a year more in cash flow than the interest-only HELOC you now have – would reduce the debt over five years by almost $75,000. That’s how dramatic the impact of these generationally-low rates is. The principal repayment portion of the monthlies is massive.
Finally, of $1.4 million in net worth, close to 80% is in one asset. The house. Yes, you have DB pensions, but that’s not money you control and job loss can happen. The fact you’ve had a HELOC for the past twelve years and haven’t paid it off is not cool. Nor does it sound like it was an investment loan. And I hope the pensions are fat, because three hundred thousand is a dangerously small nestegg. If you have defined-benefit pensions, hopefully the bulk is safely inside TFSAs instead of RRSPs – which can flip you into a higher tax bracket after age 71. That’s apparently when men reach their sexual peak. Or die trying.
$ $ $
Next Monday, kids. That’s when Chrystia will tell you what the pandemic damage has been and where we may be headed. It’s been a long time – well over a year – since we had a regular federal budget, and Dog only knows when the next one will come. The event on November 30th will be another ‘update’, which means she can lie with impunity. And smile.
In July the T2 government said the deficit would be $343.2 billion, an all-time record (the previous high was Harper’s $56 billion hole during the credit crisis). Since then the Libs have announced new spending initiatives (like pharmacare) plus more Covid relief (an extension of CERB-like payments plus new business subsidies). And now we have a second wave of the virus surpassing the first. Ottawa’s spending, relative to the size of the economic, is the most profligate in the world.
So here’s your assignment. What will be the new deficit number? Post your estimate.
The winner will be given a guest column on this blog. Plus, you can moderate the comment section for an entire 24 hours. Then we will pay for your therapy!
369 comments ↓
$532 billion
Will peak at 1.5 trillion. Once it gets close to 100% GDP we’ll have to start paying up.
Deficit: $502.3 Billion
(The 2.3 for essentials like WE Charity Funding for Trudeau family members, etc)
354.1 Billion.
You’re not going to like what my guest column will be about: “uppa, Uppa, UPPA for Real Estate!”
425 billion is my guess. J.
The Liberals know only one thing: borrow and shovel money out the door with no restraint. Given the shocking deficit and debt have they cut back anything non-essential at all? Methinks not.
I bid 387 billion.
Are we using Price is Right rules?
Warning: The following statement is probably a factually incorrect Flopperism, but let’s go through with the thought process anyhow.
I am going to run for a federal parliament seat, and then when successful in that endeavour, get booted, partly because I believe in listening to people and everyone deserves a voice.
Then I am going to start a wildly successful blog and then shut it down because of a few yahoos who’s main goal appears to bring the blog into disrepute…
M46BC
Boggles my mind to see people with six-figure household incomes (plus pension plans!) complaining about not being able to make ends meet. So painfully and comically out of touch.
If my wife and I combined made that kind of money, I probably wouldn’t have the blood pressure of a stroke patient twice my age from worrying about bills every month.
$455 Billion
750 billion…..
Now i am signing off to prepare for the blog post.
475
The DB pension isn’t necessarily the safety net one might think. There have been a few companies – Nortel, Sears & Air Canada come to mind – whose DB pension took a heck of a shellacking, leaving retirees as well as employees with – well – not much.
As for the deficit guess? I’m figuring we will be fortunate if it is ‘only’ 500 billion…..
I bid $472 billion.
The truth is the deficit with this government.
$575 billion
I don’t get it, since when do we consider children frills and growth and profits and market and economy not frills!!! Please explain.
Ever since we lost our sense of humour. – Garth
1.2 Trillion.
Guessing what the size if the final deficit will be is akin to guessing the size of the iceberg HMCS Canada just hit.
I’m guessing 480 billion.
$460000000000
$451 billion.
More importantly, let’s get those vaccines going. Gen Hillier get those supply lines set up sir and let’s do this.
I bid 530 billion.
I estimate that we can anticipate a federal budget deficit of $489B
The new deficit will be a gazillion.
Three more weeks until the US has a president-elect.
Two years for clinical trials; but there will probably be guinea pig volunteers running like lemmings to be jabbed with a possibly 90% effective vaccine for a disease 99% of people won’t contract. Meanwhile, small business bankruptcies this winter plus excess mortality due to suicides and postponed treatments will have a much more devastating impact than the WuFlu.
Hey Ponzius Pilatus – I think Garth may have liked your suggestion for a guest columnist spot. If the winner doesn’t blow it we could see more of the same.
Great idea on your part. Even greater that Garth will give it a try.
A cheerful missive here. All main stream sources.
– Small business: NY Times calling for destruction of our way of life with more days (111 days) of prison lockdown in Canada? Always with the 11s.
NO more news exists; only predictive programming. Many are in denial, I get that it’s a way to try and cope. Some people take well to this. MF has deputized himself as a commandant to (re-)enforce our minds against the ‘dangerous’ ways of thinking.
Say how are those R0 numbers looking today? Yeah that goalpost.
https://www.nytimes.com/2020/11/21/world/covid-zero-is-an-idea-gaining-momentum-could-it-work-in-canada.html
— But the same Rag claims: https://www.nytimes.com/2020/08/29/health/coronavirus-testing.html
“Your Coronavirus Test Is Positive. Maybe It Shouldn’t Be. The usual diagnostic tests may simply be too sensitive and too slow to contain the spread of the virus”
— You need real health care? Too bad you ain’t getting it. The system has been turned against you.
https://www.cbc.ca/news/canada/nova-scotia/hospital-visits-suspended-in-central-zone-of-nova-scotia-due-to-covid-19-1.5812543
“The Nova Scotia Health Authority has stopped hospital visits in the central zone amid rising case numbers and community spread of COVID-19 in the Halifax area.”
—- Strategies for the New System. Basically anything fun and social is now globally “Non CV compliant”. Only work allowed in this new system Comrade.
Healthy people = Dangerous per this article.
1. Take the fines, go BK, then take the UBI.
2. And/or Flood the tip/snitch lines with *legitimate* reports. Ensure every minute of authorities’ time each day – absent real crime – is taken up with CV Crimes.
https://www.kelownanow.com/watercooler/news/news/Kamloops/Man_fined_3K_for_non_COVID_19_compliant_game_of_cards_at_his_Kamloops_home/#fs_92486
Our priority is to educate people to change their behaviour for the safety of everyone.”
Earlier this week, a homeowner in Saanich was fined $2,300 for hosting a poker game in a garage.
$725 billion
oh Garth you really are a gem!…this made my day ….hahahaha….Blessings on you and your Dorothy this Christmas season!!!
Deficit Number: $557 Billion
Is 1.0T deficit in one year too much?
Deficit will be $369-billion. Lock it in now while you still can.
My guess is $343 billion + another $80 billion
Total $423 to $425 billion
And stay invested as mentioned by Garth many times.
Price is Right rules? Closest without going over?
$511B
$383.9B
My guest column will focus on what GF has done for me over the years; how when I’ve followed the DOGma it’s led to freedom, liquidity, and happiness, and when I’ve gambled against its advice, I’ve tended to add stress, lose big and cage myself in the process. Oh, and on the importance of having at least one Harley in your portfolio.
Going to say 600B, doubling is close enough for government work.
Whatever Mr. Justin Trudeau sees fit to spend is fine with me. He knows what he is doing, and I am thankful his able hands are on the wheel, expertly guiding our nation through these very troubled times.
BB
460 Billion!
477.6 Billion
$383.9B
My guest column will focus on what GF has done for me over the years; how when I’ve followed the DOGma it’s led to freedom, liquidity, and happiness, and when I’ve gambled against its advice, I’ve tended to add stress, lose big and cage myself in the process. Oh, and on the importance of having at least one Harley in your portfolio
603B
479billion
$471B
Garth, can you please break down this statement into more detail in a future posting, or direct me to an older post where it’s explained?
“If the home equity LOC money was used for an investment, 100% of the monthly interest payments can be deducted from your taxable income.”
At these rates using a HELOC for investments seems to be either a good idea, or a great idea. What’s the catch?
Oh, and I’m guessing the deficit will be $373 billion
Thank you for the daily posts. They’re something I look forward to every day.
Sorry for the double post, but the allure of a second guest column is too great.
I’m going with $470 billion!
Deficit Number: $435 Billion
Got this song in my head:
Que Sera, Sera?
Whatever will be, will be.
The future is not our’s to see.
Question?
Does it have to be down to the penny?
$525B
$549 billion deficit
Question about mortgage pre-approval.
If a prospective buyer hits up a bank for mortgage approval (before buying) how long typically does the pre-approval stand?
In other words, how long does the prospective buyer have to find-buy-close a deal?
Normally 60 days. – Garth
$1 Quadrillion
—————
Based on having done this 2X (no advice, statement of fact):
“The winner will be given a guest column on this blog.”
Which after having done the above you inevitably end up doing this anyway:
“Plus, you can moderate the comment section for an entire 24 hours.”
—————
AND EXCUSE ME My Liege, how come I never got:
“Then we will pay for your therapy!”
—————
To the winner, Garth gave me better than that…he conversed with me via e-mail ALL NIGHT LONG.
Who ever wins…on that my last experience with Garth, I got you beat.
Advice:
Gladly trade a nights conversation with Garth for a therapist any day, hands down.
———————–
To the Moderator:
Let us know it went. Inquiring minds want to know.
All the best to whomever you end up being.
Let’s make it an even $500 billion. As my father says (who was a life long Conservative supporter) the Liberals agenda is to tax and spend.
“And out of this dark time comes dramatic biotechnology – ‘messenger’ vaccines with the potential to improve human life in important new ways. “.
Yes and what a nice feeling to be positive again!
Imagine…this mRNA process could–yes COULD–eventually lead to eliminating cancer, Parkinson’s, Alzheimer’s, etc.
How lucky we all are to be living in this time…versus ill people 50, 75 yeaars ago whose doctors were unsure what disease they actually had, let alone treatment.
Manulife. Yes, we turfed our investments in their mutual funds. Best thing we ever did!
$512.8 billion guess.
Can the winner ELECT someone else to do the guest column and moderation? *Grin*
$549.25 billion
Any higher and they have to start worrying about how to spin the excessive spending in their reelection bid.
I think people are getting sick of smaller businesses being told to close but the Hudson Bay located on Queen Street can have an army of lawyers say they are an essential business and must stay open because they have a basement full of overpriced snacks that people can’t live without.
#46 Ponzius Pilatus on 11.23.20 at 4:24 pm
Question?
Does it have to be down to the penny?
\\\\\\\\\\\\\\
Yes
400B.
Title of my guest blog post: “Cats > dogs, scientists prove definitively”
Using the Moneyball formula I determined the upcoming federal deficit to be…
641B.
If successful I will defer, because I believe the 99% of readers on this blog that are too fragile to wade into the comments section would want that…
M46BC
I’m not sure how, in the midst of a pandemic with businesses being closed down, people on CERB, deferral of mortgages, high unemployment, the airline industry losing altitude, the travel and tourism industry bottoming out and basically other fundamental economic problems, that the stock market can be at new highs?
It’s no longer about productivity, innovation, profitability or the health of the economy but more about how much “stimulus” will the Bank of Canada, the Federal Reserve and other central banks will inject into markets. Wealth is generated from production not by the punch of a button from a banker. It’s almost like taking CERB even if you may not need it – you may as well get in on the action of the “stimulus” machine.
By the way, the term “lockdown” came from prison riots, you know, when they needed everyone back in their cells to stop the riots.
489.9 Billion.
$1
Why the heck would I want to risk having to moderate this thing?
unofficial-guess-that-does-not-count-as-entry:
$392 billion.
Wondering … does the Fact Sheet for prospective immigrants highlight their future deficit / debt obligations?
From the CIA: estimated 2020 Federal deficit 445.8 Billion
The new deficit will be $666 billion.
485 Billion
Is it going to be a number like The Price is Right number, without going over or just plain, the Closest?
The Price is Right would have been more fun.
$493 Billion
« Ever since we lost our sense of humour »; Garth, you’re killing me! So did you hear the one about the agnostic dyslexic insomniac? He lay awake all night wondering if there really is a dog…
When are people with zero sense of humour being banned?
#17 FrillsLikeChildren on 11.23.20 at 3:56 pm
I’m going with $550 B
$750,000,000,000
$494.7 billion and a few care bears’ hugs
$388 billion, and a smile.
Plus, you can moderate the comment section for an entire 24 hours. Then we will pay for your therapy!
………
LMFAO
475 Billion
465 Billion, make it rain, baby
How many stars are in the universe- but I’ll go with 600 bill and 25 cents
516 billion.
454 billion
I bid $324 billion
9 Randolph on 11.23.20 at 4:34 pm
Question about mortgage pre-approval.
If a prospective buyer hits up a bank for mortgage approval (before buying) how long typically does the pre-approval stand?
In other words, how long does the prospective buyer have to find-buy-close a deal?
Normally 60 days. – Garth
““““““““““““““““““““““““““““““““““““““““““““““““
I find it 90 days if you give the nice lady at the bank, BACON
The deficit is “who cares doesn’t matter anymore go collect the free goodies aka not telling you” guaranteed! I win :)
437 billions official number for the contest.
https://ca.finance.yahoo.com/news/final-nail-in-the-coffin-retail-industry-urges-ontario-to-ease-lockdown-restrictions-192809533.html
Not enough vaccines until 2024 according to Financial Times:
https://www.ft.com/content/a832d5d7-4a7f-42cc-850d-8757f19c3b6b
As for the coming inflation tsunami ….
Remember folks, when you print a few trillions and increase the monetary base in exponential manner:
https://tradingeconomics.com/canada/money-supply-m2
, the inflation is still sub 1 %!
Cheers,
480 billion
Darn Deficit … $ 617 billion Yikes !!
412 Billion.
$600.25 billion.
im guess 398 billion this year.
Hopefully they can claw back some of the CERB money given out to those who didn’t quality or who got 2 payments.
#49 Randolph on 11.23.20 at 4:34 pm
Question about mortgage pre-approval.
If a prospective buyer hits up a bank for mortgage approval (before buying) how long typically does the pre-approval stand?
In other words, how long does the prospective buyer have to find-buy-close a deal?
Normally 60 days. – Garth
————————————————
That’s 6 months for a PAM (pre-approved mortgages) at which point the bank has to do another hit on your credit bureau. Rate guarantee can go 155 days. If rates go down, you call the bank to lock in the lower rate and the 155 days starts again. I just went through this.
527b
$409 Bil
can’t wait to help repay this over the next 50 years…
T2 may as well recruit Dr. Evil
One million dollars
https://youtu.be/EJR1H5tf5wE
I believe it will be 601 billion.
486.5 Billion.
Can’t wait for the winning number!
$407,000,195,908.23
Thanks Garth.
M61ON
This is a pick your numbers lottery not a projection. Not enough avail. info to make any kind of projection…so based on Dec. 2019 figures and their July 2020 deficit forecast, I’ll guesstimate (not an estimate) ….$630 billion.
…(the number that first popped into my head like a premonition was 496-B…after looking into it a little I’ll stick with the 630-B guess).
$611 Billion.
$433 Billion
Thanks for providing a variety of incomes and wealth to see insights into people’s personal finances!
$376 B
352.1 billion! I’m starting to write the column already.
$420 BIllon
1.2 trillion
500 Billion
432.1 Billion
Won’t take a guess as I may just win the prize …
427 billion. Great idea Garth!
I would guess $395 Billion. They will fiddle with the numbers so it doesn’t sound extremely horrific.
If I get it right I would like to do a guest post about trying to meet our Paris Accord emissions reduction targets and how it will make the Pandemic look like “the good old days”
I guess $393.2 billion!
A cool $50b more sounds about right for this Nov. 30th “update”.
~Flu
$474B
Is there a sign-up sheet for 24hr guest moderators?
*ahem*
Get a grip – Garth’s guest minion
How’d I do?
I normally wouldn’t care to comment but a full page of my own opinion published is the least I can do to save Canada…$411,000,000,666 for the implied deficit.
my jellybean guess in the jar is $492 billion for this year.
im more concerned moving forward that some 55% to 60% of people will be out of the paying tax game. That is more troubling than a pandemic laced deficit number.
structural lack of income for millions of Canadians, taxes aren’t there problem, lack of income is.
markets can do what they want, just look at the EV stocks, crazy, but I see poverty everywhere, lined up at the reduced section at the grocery store, these aren’t people with million dollar homes and DB Pensions, millions of people who buy outdated bread and rotting fruits due to lack of income. They didn’t do anything wrong, didn’t get sick in there life, had low paying jobs most of their lives, and ended up with marginally above zero. That is the real problem moving forward. Lack of Incentive to get up in the morning.
My guess is 495 Billion.
$320 Billion
Chrystia will give us 377.5B now & it will come in later at 477.5B
712 billion and yikes!!!
$1
$491 billion.
$430 million, but the true number will be over $500mill
Deficit will balloon to Can$ 610B. Is that a big enough number?
Garth,
Thank you for another great post.
I guess $378.4 billion.
If I win (I mean no disrespect here), I shall forfeit my winnings to the runner up as I do not have the mental fortitude, as you do, to tackle the comments section!
Since this fiscal “update” is nothing but a fairy tale…
I am going at $378.6B
(reason being, a low lie is better than the truth)
Hey Garth,
Let’s do a post on the Laffer Curve.
Supply Side Economics is a thing of beauty!
I bid $532 billion!
373.3 B
560 billion would be my guess. My bet is on a free sauna, ah, can just feel the Covid pouring out of my pores, rolling the dices as I write! Dices are rolling, but?? :)
395 billion, and change.
I wouldn’t be surprised if it ends up in the t’s and not b’s.
But really who cares! This is a budget that will never, ever, ever be paid off!…unless,… we use the new invention, MMT, and
the BOC can get the average Canadian house up to 3 million.
Inflation like this can just wipe out the debt.
Is this not what they are planning???
In Canada the majority of Inflation will be confined to the housing market and all things related,…like gobs of more debt. But its all ok…
Didn’t you say something to the effect that Trudeau misspoke?
https://www.armstrongeconomics.com/world-news/corruption/tucker-starts-to-question-at-last/?utm_source=Newsletter&utm_medium=Email&utm_campaign=RSS
Do you handle government portfolios or peoples portfolio’s that are still active within government?
456 billion
450 Billion Dollarettes!
$501 billion. I’d like the therapy coverage in beer.
516 billion
369 billion
The prize is scarier than the answer.
$581.5 Billion
I’ll take $384 billion, Garth.
Actual retail price….. 515 billion
$511B
“Ever since we lost our sense of humour. – Garth”
Touché ;)
443.2 billion
don’t forget we have to bail out the airlines!
414 Billion. This feels like the Showcase Showdown where you really want the prize but you may pass on it because of the comment moderation part. Thanks for what you do!
Six hundred and sixty nine billion.
446.3 B
So many variables does that include or exclude the 4B contingency fund?
It will be less as they will fudge the numbers by not including pharma care until Supplementary estimates or a new budget next year.
On the question on Mortgages if I may add my research this week.
BMO, RBC and HSBC is 120 days to lock in on a new mortgage.
If you are renewing a mortgage like me then 30 days
All mortgages are open within 6 months to renewal date, in other words no cost to break the mortgage.
I have an appointment Dec 1 to lock in my rate.
Current five year is two big banks 1.78 and HSBC is 1.64, I am praying for no hikes before then.
Guest columnist
Wow so many topics have been covered by you already
My topic will how to make a priorities list with goals as personal budget is so old fashion.
Good luck Everyone.
Deficit: $550 Billion
$420 B
412,000,000,001 $
Maybe do like Bob Barker, where it’s the closest without going over
343.2 (the current deficit) times 2 =
686.4 BILLION
My final answer.
.
$444.4 Billion CDN
I chose a number that is easy for me to remember.
Cheers, R
411 billion
New deficit? $394.2B
419 Billion
Who’s numbers are we using?, the PBO or the standard liberal pick a number out of a hat? I’ll go with 666 B, but the devil is in the details.
Trump administration has conceded
Also, there will be no deficit because, you know…budgets are self-balancing, but really more like $536 billion.
CAD or USD?
420billion blaze it justin
467 G$
453b
600 Billion Dollars. Massive daily interest on the debt being added to the bill for young and future Canadians.
“So here’s your assignment. What will be the new deficit number? Post your estimate.”
There will not be a deficit number.
The expenses will be balance by income from many sources that we cannot imagine.
>Reality Check.
Joe Biden struggles to operate autocue
565,088 views•Nov 21, 2020
Sky News Australia
https://www.youtube.com/watch?v=BfLAAqmxUk8
Since Cynthia and T2 will perform the great reset, the new number will be….. ZERO
$632.5b
1 trillion dollars…
I’ll go for 399 B
” …after age 71. That’s apparently when men reach their sexual peak. Or die trying.”
———————————————————
Actually it’s age 77 but the problem is all the women I know are no longer interested! Bummer!
There will be no “number”, it will be a range.
The economic update is bring delivered on a Monday, will be more in the media and public eye than if doing this on a Friday, quite brave. Chrystia will give us $418 billion deficit, but later it will come out that it’s actually $473 billion. Submitting the first number for this fun contest!
$1 million billion jillion kazillion dollars.
Sad part is that I’ll probably win.
$438,750,000,000.10
The topic of the Guest Greaterfool blog will be:
“Conjugal visits with the ex-President or divorce?”
– What I mean about every system designed to protect us has been turned against us…look at this.
Have an urgent medical issue? Call 911 and get in line behind the Karens.
They are doing this on purpose – for complete breakdown of our minds and society.
Oh sorry this is about a virus?
Ah the magical and scientific 6-6-6 feet apart, 6 people. You get the idea:
“Oregon Governor Kate Brown is encouraging residents to call the police on any neighbors who flout state COVID-19 restrictions, which include limiting in-home gatherings to a maximum of six people
s no different than what happens if there’s a party down the street and it’s keeping everyone awake,” Brown said in an interview Friday. “What do neighbors do [in that case]? They call law enforcement because it’s too noisy. This is just like that. It’s like a violation of a noise ordinance.””
— the UBI meter just notched a new High. Q1 2021 seems about right.
Not only here but in every country. Same thing is unfolding.
“The Retail Council of Canada (RCC) and the Canadian Federation of Independent Business (CFIB) are pushing the government to allow non-essential retailers to open, saying the lockdown threatens the survival of many small businesses that depend on the busy holiday shopping season.”
https://ca.finance.yahoo.com/news/final-nail-in-the-coffin-retail-industry-urges-ontario-to-ease-lockdown-restrictions-192809533.html
I’m tinking 515 billion.
Lord help my kids.
If everybody gets a “pony” the tally estimate is very close to a Trillion. Canada has had to identify themselves on the world stage and now we have really arrived BIG Time.
868.4 Billion but wait I am pretty sure someone said it will balance itself so does it really matter?
“That’s apparently when men reach their sexual peak.” Ooops I peaked really early.
393B
$1
I know, I’m not the first one to say that, but I’m surprised there aren’t nearly as many lower suggestions. Who knows? The Liberals might have actually spent a lot less money than they expected.
Could happen. And while I’m wishing I would like a pony. And world peace.
#139 Michael on 11.23.20 at 6:32 pm
don’t forget we have to bail out the airlines!
—
All two of them? Sure, they are important for our economy, but it’s hard to feel sorry for Canada’s oligopolies if/when they fall on hard times after decades of massive default market share. At least Air Canada doesn’t have a dividend.
590 Billion
I say it will be 6.5 x 10^8 CAD
I will decline any winnings
The deficit will be 456.78 billion
The budget will balance itself.
Oh, wait a minute …
$0
The budget will balance itself.
$423 Billion
$649 Billion has a familiar ring to it. T2 will need a lottery win every week just to carry the interest payments.
Someone else already got my number of 545 billion, so I will go with 554 billion. Of course we will not know the real number until much after the end of the fiscal year because Chrystia will lie (why change now) and Mr. Dressup will not have a clue what the number is and doesn’t care anyways.
Back in April, Bill Morneau was grilled by a Senate committee and ran around in circles and would not give a straight answer on anything. A frustrated Manitoba Senator said he had a number of $500 billion from a reliable source. Chateau Bill did not deny that number. There have been a whole lot of spending and new programs since then, and a lot less revenue, so it will be ugly
” if you have trouble repaying any debt on a $200,000 household income, you’re spending too damn much on frills like children. Buck up. Do a budget.”
Children are not frills Garth. They are the future of the nation and its people. Home prices above 3years pay at minimum wage for one person are frills for the seriously rich.
T2 wants Canada to have a debt of at least
1 trillion. Everybody will suffer in the years to come through high taxes, hyperinflation and a devalued dollar.
Thank you T2,you will always be our most admired and loved PM !
$512 billion deficit.
The budget will balance itself.
I’ve already commented everything I probably want to say but the free therapy sounds like something I could use.
(PS. Do we really need so many significant digits? $343.2 billion does not need the .2 or even the 3.2. $340 billion gives a good enough idea and even that is probably too precise by half.)
I’m going with $450 billion. In the off chance I do ‘win’ it, I graciously decline the ‘prize’ and ask for a $100 donation to the Terry Fox Foundation.
$600,000,000,000.00
I’ll wager 740 billion. A billion here and a billion there, pretty soon your talking real money…. Cheers
Interesting equity market dynamics here. Sentiment, fund flows and valuations all at or approaching two year highs. Vaccine, Trump almost conceding, US cases maybe topping out, maybe a stimulus sooner than later. Lots of believing and good feelings. Just have to rotate out of tech into the laggards, right? At the same time, many of these indicators usually signal tops before corrections. Not that you should be considering such things when saving for retirement…
Any other takes out there?
488, the LPC, will try to grab a few atta boys for limiting spending to under the 500 B .. half T… My owe my!
If the July estimate was 343B before CERB extensions and before CRB and before purchasing VACINNES and before the 2nd wave and before buying rapid tests and before approving more emergency rent programs and … and … and …
Better double it… 686B.
If I am closest I will offer up the prize to the blogdog who will donate the most to their local SPCA before Dec 25, 2020. Bids starts at $200 CAD.
$562B
Yore welcome.
Deficit: $400 Billion…
Looking forward to see who gets it right!
I’m going with $585B
$391 Billion
I am already in therapy!
he Canada Revenue Agency says it’s warning about 213,000 Canadians who may have been paid twice through the Canada Emergency Response Benefit (CERB) program that they could be called upon to repay the money.
Thats $426,000,000
https://www.cbc.ca/news/politics/canada-revenue-agency-cra-cerb-pandemic-covid-1.5812925
What to invest in for the GREAT RESET?
Same companies that got rich off Dalton and Kathleen?
Who’s got a connect with Butts?
1 trillion because that sounds so much “less” than 999 billion…
My estimate is $ 488.5 billion – and may God help us all!
that’s $430 BILLION DOLLARS !!!
Yes it will be good to see how miraculously the democrat controlled states case counts will plunge dramatically. It’s like the virus knows which states to hit and which ones to leave alone…….
$369.3 Billion.
Really, does it matter. 300, 400, 500, and in the end, nothing to show for it.
Kilt.
888 bilion
$475.5 Billion
A guest blog… Now that’s fun!
J
$515 billion. But she will somehow say that it is the right thing to do and is manageable. Truly hopeless!
I will decline the prize if I win as I may educate no one, turf everyone’s comments and still need a whack of therapy therapy.
367 billion.
and yet, Fitch maintained a Aaa Canada credit rating just a few days ago.
Hmm. Well I asked my 8 month old black Labrador Retriever. Told her if she won she’d have yummy treats for life. Her answer was $599 Billion give or take a mil. She really didn’t takeme too seriously as deep down she knows shw gets treats for life anyways.
509.4 billion
Bad bad budget you did not balance yourself
It will be $680 B.
What topic would you like me to address?
I will use real money for my calculations: gold!
If I’m correct (+/- 1%)
Canada’s deficit will be 8,455 metric tons. Someone here actually used the $ number I was thinking so I had to make conversions.
If I win, I will not DELETE any posts BTW
Hey wait a minute I remember hearing Justin tell us that Ottawa went into debt so we didn’t have to…
Does that mean I am off the hook?
$479.2B
433.1 Billion.
And God bless you for paying for the therapy!
I am getting started writing my column right now…
PS. BTW TurnerNation you are deleted.
The number they will announce next week which is a lie:
398.2
Dominion voting systems apparently in our elections. Someone might want to actually investigate the way they are engineered and maybe, just maybe consider North American technology in the future.
Doubt it though. It is all pay to play.
$455 billion
I’mmmmmmm baaaaaaaaaaaackkkkkkkkkk ;)
Sincerely, Low Rates, Negative Rates Forever.
Whatever the deficit may be, it’s a certainty it will be lower than the cost of therapy to effectively alleviate the effects of moderating this pathetic blog for 24 hours.
WUL
ps. Hi Flop.
$495B
504,000,000,000.00 or 503,991,000,000.00 less the 9 million Joe Biden is worth.
499 Billion
$444 billion
Thanks Garth.. can’t wait to write a guest column on this blog for Dec 5th.
My guess: $427B
$C437.6 Billion
Two thirds of people in USA are not getting vaccinated anytime soon. Here probably 50% and they are dead serious about it. Ready to forgo travelling and do home schooling. The airlines will cave. There will be lawsuits. I know they are private companies but they got bailed with public money. Or i forgot ot doesn’t matter
$285b
578 billion.
#160 Long-Time Lurker on 11.23.20 at 7:03 pm
Sky News Australia
https://www.youtube.com/watch?v=BfLAAqmxUk8
—
Oh, surprise, another Rupert Murdoch media outlet. Between the NY Post, Fox News and Sky News Aus. you’ve got a real nice international and diverse media diet there.
440 billion
$495 billion
that’s not too bad, it’s only $13000 per canadian
it’s just the price of 1 car company…tesla
With sadness, I am throwing out a prediction of $538 Billion.
424 Big one
$389.4 billion
453B
Let’r rip!
Deficit 428.3 billion.
Column? No problem.
Comments section? If you let me answer (privately) the ones I delete and ban. I have more than a few selected words and phrases for them . . .
Sadly, $789B
666.66 Billion
To infinity and beyond!
Let’s go with $619 billion…
Very interesting video on Japan.
https://www.youtube.com/watch?v=csBr5pO_Gfk
$498,887,715,301.21
$423 Billion
$381.6 Billion
One zillion dollars.
Looking into the mystic I see….a staggering 538 billion dollar debt….Yikes!
M56BC
My guess … $397.7 Big ones! Not that it matters anymore, because, …well, … there’s that new math and all.
I’ll bet on a deficit of 380 billions.
here we go! Right up Schitt’s creek with two broken paddles….
496 Billion Canadian dollars…….
#187 Outrage on 11.23.20 at 7:57 pm
T2 wants Canada to have a debt of at least
1 trillion. Everybody will suffer in the years to come through high taxes, hyperinflation and a devalued dollar.
Thank you T2,you will always be our most admired and loved PM !
You numbers need significant upward revision.
The federal debt alone is over 1 trillion already and predicted to be over 1.426 trillion in March 2021.
https://www.taxtips.ca/statistics/canadadebt.htm
We all know that it will be higher due to constantly revised upwards deficit, with very realistic chance of hitting 2 trillion next year. Federal debt alone. Add to that the provincial debt and then the record private debt.
The picture is not pretty.
All this debt is combined with expected shrinkage of GDP of 12 % + this year alone.
The biggest problem is the constant tax revenue shrinkage with all those struggling small businesses. The budget relies mainly on labour and small businesses taxation and that is doomed due to overwhelmed consumers, lost forever jobs and capped wages.
Less money in the pocket, much higher prices.
No idea how the geniuses plan to pay for all those projected programs – universal pharma care, universal income etc. with almost no economic activity but primarily money printing?
The journalist/writer in charge of finance obviously thinks that printing a few trillions as a start will solve all the problems.
Buckle up folks,
Cheers,
There is no budget silly!
Just get a credit card like me that somehow gets paid at the end of the month. Isnt that how it works? You dont actually have to pay for it. It just magically goes away. Super fun, so awesome. You guys should get one too.
But seriously…1.1 trillion. Just so i can read all the deletes
Deficit projection : $ 550 billion. Of which $100 billion will be coached in terms of new giveaways for new spending. Ou
2) Real estate is not a line item on a balance sheet listed as net worth. It is not a fungible asset and as such is not “net worth”. Try applying for a margin account at a brokerage using real estate as net worth. The smart money says “not”. 50% shaved right off the top.
3) You really won’t like what I have to say as guest columnist. The truth is way uglier than current headlines. Prepare yourself.
4) Buying across the trough of this U’ish recovery has been a classic barn burner profit machine. Having bought more shares has created more income to buy more shares on sale and that creates more shares to have more cash more buying shares at lower prices, oh baby. Even with the index at ex-equivelant most shares are not at all time highs but growing at an increasing beta. My read: individual shares in durables, discretionary, energy and finance have a long way to go. Yum !!
$361 Bn in the pot for the deficit.
329 Billion
BTW why is HELOC at 3 % + when interest rates are at zero?
Apparently there are those who are connected/the banks who can borrow at zero and then loan to the consumers at much higher rates.
How much is the interest on credit card payments again? 18 %, 25 %?
Shouldn’t BoC lend directly to the consumers vs. their friends from the banks?
Let’s see how many skins can be taken off this broken and hungry sheeple.
$445 Billion :-(
$521 billion, but then again, who’s counting?
$357 billion or (5.5 trillion Mexican Pesos)
Vicarious fun.
474.7 billion
Deficit of $485 B
“don’t forget we have to bail out the airlines!”
—————————
Nope, that won’t count toward the deficit.
Govt will take shares in the airline(s), meaning taxpayer money will be paid back into gov’t coffers.
Coff…coff (cough)
Garth, they will not tell the real deficit, debt numbers. Anyway you look at it by the next 1 to 18 months 1 trillion is added to the National Canada debt. Garth, Canada is in serious financial trouble and crippling poverty for us all this is not like Pierre Elliot Trudeau when Canada had no debt until adding 180 billion+ and now where we are on our way for a $2 trillion dollar debt in coming years.
Canadians are so dumbed down especially when it comes to basic economics and finances of local to provincial to Federal and even personal to global.
Bob, I’ll bid $437.1 billion for that Canadian deficit.
The new deficit number will be… $Vague$. Politicians have always struggled with adding up the true costs associated with empty promises.
Please tell us about your guess and reasoning sometime soon!
Such a great bit of fun for the end of the day, thank you :)
$412 billion
Lots of like-minded guesses
549.26B$
Ahhh, brilliant Garth! Way to Copperfield the negative steerage section, thank you, please keep up your great work.
This is to Chrystia Freeland, Justin Trudeau, since budgets balance themselves and the Liberal Party of Canada is the party of no limits, just give everyone $10 million dollars and let it be.
We all know the Liberal Party of Canada the poverty makers not the poverty reducers. Devalue the money we all know it is done.
I will hazard a guess at 365M which I don’t think has been taken yet (though I saw a few 369s).
$569 billion.
$398.6 billion – in reality it will be over 400, but T2 will use creative bookkeeping to keep the first number a 3 for appearance sake.
$666 bln
$424 billion.
2020 deficit will ring in around 440 B
2021 deficit will ring in around 220 B
737 Billion.
Garth! Are you serious? If I correctly predict the deficit, I get to write a blog post? Are you sure? Remember when I correctly called the price of that house a few years ago? I got goosebumps just from you mentioning my anonymous handle! Are cute, naive, sexy Canadians ready to hear about using debt as a tool change society? I mean, if even a FEW people stop paying their debts, can you imagine the disruption? Woohoo! Ok, here it goes, my prediction and a bonus:
$637 billion!
Bonus – no one gets charged in any form corruption!
*Long Live SMOKING MAN! The greatest example of a loser! Let his life be reminder how NOT to live! (Anybody care for an alcoholic drink?)
Their just going to bullshit the number because lord help us if we ever got the truth.
I watched T2 the idiot on you tube mash the gas and tell the reporter “dude we are at historical lows in int rates worry NOT!”
He never answered the Q on how the hell to get out of the black hole. Obviously hes not listening to you Garth. You use these ULTRA low rates to blast your principle….
Not T2, putting us as the highest indebted developed nation on the planet ! Tard…
$539bil and 10cents but irreverent if their making it up.
As for me best year (but weird)…business rocking it, cash flow, no debt. Just pissed I cant hop on a plane and buzz off for a while.
Its not going to end well.
https://thetrendletter.com/2020/11/19/attack-of-the-debt-tsunami/
$ 512 Billion Garth: I’m all in.
Fore warning: As a columnist, and I’m posting all funny pups photos for 12 hrs straight, then paparazzi shots of you cozying up with some fluffy cats recently…
I’d like to bid whatever TN guessed + $1
If that’s not a choice then $421B
$430 billion
441.80B
$405 billion cdn
785 billion
“Lighten up”, says Garth. Sure thing. Great advice.
To our grand prize winner — In the unlikely event you’re stuck for subject matter — I’d like to offer a few suggestions.
(General Interest Topics) :
• Lockdowns …. Why selling my children into slavery wasn’t the smartest thing I’ve ever done. You should ALWAYS try muzzles first. Bonus — Important first aid tips on how to survive a tasering after inviting another family member into your home.
• Work From Home …. How often do I REALLY need to change my undies & are breakfast martinis such a hot idea? — Why weed is better.
• Remote Learning …. Parents – Don’t despair! Nintendo & Playstation truly ARE improving your child’s reading & math skills.
• Doctor Google …. Why seeing my own doctor in the flesh was icky and a really dumb idea in the first place. Plus — Discover the joys of cyberchondria.
• Global Warming …. Stunning new evidence for why you simply must hate carbon ‼ An exciting & shocking must read for beginners ‼
Teaser — ” The extremely dangerous & irreversible effects of a recently discovered intersection between the diffusion coefficient values of CO2 with the horrific conflicting pressure from covalent bonds of other atmospheric gasses & in conjunction with sea surface oscillations and the ph adjusted scale of …zzzzzzzzz
(Political Controversy) :
• Internet & TV Censorship …. The pros & cons of smoke signals and why the jet stream gets them from Vancouver to Ottawa faster than the internet.
• Green New Deal …. How freezing in a dark, 100 square foot condo WILL improve your life. Bonus — How to build your own peat fire plus best medications for lung issues.
• Confessions of a Conspiracy Theorist …. How I gave up my critical thinking & learned to love the Flu World Order.
• TREXIT …. Trump is GONE ‼ But I still have my TDS hate. What now?? A 10 step program for relationship recovery.
( Red Hot Button Issues ) …vaccines,masks, global reset:
Do not even go there! Obviously. Duh.
************************************
Now that was some good, fun therapy. And it frees up my next shrink appt. Any takers? :-)
I will guess 435 billion. Guest blog will concentrate on the scam that is our stock market.
$342B
$1
C$ 475B
BTW, my predictions back in Feb, are in the making:
https://www.bbc.com/news/world-australia-55048438
$456 B
I’m really hoping I don’t come 2nd.
The official estimated deficit will be 352 billion as they will report that not all monies included in the previous estimate were claimed/paid out.
My guest column will simply be a one sentence question with no comments about Covid being allowed. Unrelated comments that cause laughter will be allowed, i.e. Sail always “got life for poaching beaver” etc.
Oh and btw Quantas Airlines just announced that they will require proof of Covid vaccination to be allowed on their international flights. Stay safe and Happy Thanksgiving to all you US blog dogs.
Whoa! Are all those bids coming from the posters who ” never read the comments”? Or has Dominion Voting taken over this forum now too? Rigged double bidding . Losers — demand an audit !
I find it outrageous that federal and provincial governments have debts and deficits at all. Clearly the powers that be have no sense of fiscal responsibility or even moral responsibility. This will not end well at all.
$499.99 Billion
BTC about to hit ATH
$666,666,666,666.66
288 Doomsday ….Guest blog will concentrate on the scam that is our stock market.
,……….
As of today tsla market value is about 1.2 million pet car produced.
55k avg selling price.
Makes 2000 look like childs ay.
Like in that Price is Right show, I’ll say 1$.
There is no way I’ll moderate this blog for 24 hours.
Keep up the good work.
I think around $230B – $250B
#279 Buy? Curious?
I actually met Smoking Man, rest assured he could kick your ass. Talking ill of the deceased says a lot about your character, or should I say lack thereof.
I waited till the end to bid. I’m surprised that NOBODY guessed the winning bid yet.
No matter what the cooked numbers are… the correct answer is (past, present & future) ► 911 ◄
ONE MILLION DOLLARS!
https://www.youtube.com/watch?v=l91ISfcuzDw
Covid flies in unchecked everyday, to the applause of the Trudeau Liberals, but Trudeau penalizes Canadian businesses. What’s really going on?
https://www.facebook.com/220942375077886/posts/1043480366157412/
Trudeau will run the deficit to One Trillion.
Dr. evil accent….427 Billion dollars.
$777 billion
My guess is $464,563,894,662.23
“Have registered and non-registered investments totalling over $300k and contributing to 2 defined benefit pensions. Household income over $200k. Toronto detached house currently worth 1.5 million.”
Hang in there buddy. Tough times for us all! We’re all praying for you! There is light at the end of the tunnel!
;-)
407.3 Billion
PS Thanks for getting the comments back on track
SB took my guess at 437 so I’ll go 439B
The Toronto Sun talking about the Great Reset too.
366 B. 1 a day.
One trillion and one dollar
Garth here is a bit of financial news from New Zealand you might find interesting.
https://www.bnnbloomberg.ca/new-zealand-proposes-adding-house-prices-to-central-bank-remit-1.1526852
Deficit is $535,645,123,489.56
And the actual retail price is……
…predicts a 419 billion dollar deficit.
…and if I win, I will abrogate my duties as a writer and instead concede the position to my long-gone-but-much-beloved Collie Fred (nipper), whom I’m sure will rail against the outrageously high cost of doggie biscuits and bemoan the lack of decent dog-park facilities everywhere!
He also can’t WAIT to start slapping his paws on the ban hammer!!!
563 Billion
I say 440 billion. No doubt there will be more taxes to pay at least some of this excessive debt back. One possibility, mentioned here before, is increasing the tax on capital gains above the present rate of 50%. Speaking of capital gains, I wonder how many of you here were scooping up oil companies, pipeline companies, and REITs while they were still on sale last month or earlier?
I’m estimating $775 billion of which $500 billion will be used for T2’s socialist agenda and jets to Islands.
BTW even If my number was correct I would never want the job that Garth has on here even for one day. I don’t have enough Tylenol in the cabinet for a day like that.
$572,000,000,000.02 (Big Block Billion)
I like to add my 2 cents.
The projected deficit will be
“As much as it takes, for as long as it takes.”
Later to be revised by the PBO to 420.69 billion.
As winner-elect of the contest, I will give you a hint about the topic of my column, firearms and cartridges as an investment vehicle.
As for the moderation, save your psych fees, just approve every post.
361
Hmmm. Guess on the Gr8 Norths deficit? I asked the glowing magic 8-ball that one and it broke. Sheesh, toys these days. But for what it is worth – 666 billion Cdn fun coupons.
Man’s sexual peak is when he can buy a lamborghini. Impotence is driving a toyota…age has nothing to do with it…
365. Rien ne va plus.
Sure, I’ll play. 437 Bn
Its like the jar of jelly beans contest, no one really knows, but its going to be a lot. And theres even a prize for the winner!
$438 billion
I say a 300 million surplus. We now live in a bizarro fantasy land where deficits balance themselves. The debt is just like your gender, it is what ever you believe it to be.
$428B
397.6B
They’ll keep it “officially” below 400B, but report later it blew right past that.
Next year 225B… then 100B at least for years to come….
423 Billion and $1 Bob.
$478Billion dollars (insert doctor evil pinky)
722 billion
$443 Billion
You know the difference between a conspiracy theory and fact?
About 20 years.
$381B
I think we will get a better product if we contract out Federal Government, and for a heck of a lot cheaper. I say we open up for bids. A couple billion would probably get us pretty decent Artificial Intelligence. We just have to agree to do what the computer says.
A computerized leader would be able to make decisions and budget adjustments in milliseconds. We would also get a clear plan and a free calendar.
“Did you get your free calendar?”
“Yeah, well, it’s something, isn’t it?”
Imagine… No more parliment or cabinets, just logic. Let us be the first post-federal state. We’ve reached a stage where other options must be considered.
$429 Billion
what’s everyone complaining about?
ya’ll voted Trudeau in, remember?
a delayed pandemic response (deer in the headlights), gross negligence of LTC facilities , handing cheques out to anyone/everyone , and shutting small business down (a MASSIVE stream of bankrupcies)
at this point who cares what the deficit will be?
reap what u sow
#338 belly rubs on 11.24.20 at 1:59 pm
I know you are kidding around, but if you want to see what machine learning does for decision making have a look at some journalism about software that recommends sentences in use in the US. Turns out the AI is as or more racist than the people who wrote the code and trained the AI. No escaping the human thumbprint as yet.
374.5 bil
Dow just passed 30000.
$560.25 billion
$500 Billion deficit, 1 Trillion Dollar Debt
Garth. Wow. I am guessing $623B deficit. I hope I win. Free therapy sounds amazing… ;-)
Russel 1000 equal weight caught up to cap weighted. Still, the top 10 names are 1/4 of the index, so it’s still a bit top heavy. TSLA coming in hot.
Small caps have been roaring lately. Energy, industrials, materials. Almost all of these sectors have “caught up”. REITs, airlines, banks still have a ways to go, but are ripping. Vax + Biden + seasonality = melt up.
Meanwhile, bonds are down, but not mega, so your B+D should be doing really well these days. XBAL touched YTD breakeven on Oct 30, now up 6.78% over that for an ATH.
Who knew the V would feel like this?
$453 billion
$666 billion
build back better
666
Well over $500 Billion in actual deficit, when it’s all said and done. Perhaps even closer to $600 Billion would be my guess. I’m betting it will be 10x larger than the next highest deficit.
Though, Chrystia will claim it’s $399 Billion (estimate).
More importantly: no plan on getting back to surplus / balanced budget any time soon.
He will lie and call it only 360B
Garth, we both know there wont be real answer oot of Chrystia.
https://www.youtube.com/watch?v=vaOx1y19QFI
$366.8B
389.2 billion
Why not go for an even $500 billion?
$456 billion
$498 billion. Easy peasy, as anything more might frighten people.
$422.6 billion. Canadian.
590 billion
$417.8 Billion
573 Billion.
Yeah for Yellen! Give us boring!
And able, proficient, & accomplished.
Yes give us boring
Vancouver real estate: [email protected]
$472B. Thanks for the daily knowledge sharing G-Money!
$498B
I predict the deficit at $666 billion and 66 cents.
The devil made me do it.
Stan Brooks, oh you thought the Bank of Canada is for your benefit or works for you. It is not for us, it is not for the country, it is not for people, not for consumers, it is nor for me or anybody else.
It is for the money makers, money printers, money shufflers, money takers, money confiscators. You see the scam was easily setup, work hard, save get 10%, 9%, 18%, 7%, 5% etc. interest and then when you have 30, 40 years worth they give you, us, everyone peanuts, 0.10%, 0.5%, 0.90%, 1.25%, 1.5%, 1.79%, 1.90, 2.0% like savings accounts, GIC’s, term deposits, government bonds etc.
Thieves come in many forms. Now, they are out in full force. There is always an excuse from fudging numbers that don’t exist like deflation to housing crash, debt levels they engineered to 911 etc. etc. There is a time to plant, there is a time to sow, time to harvest. Get my drift, ripoff the idiots now it is covid time. Don’t let the best crisis opportunity go to waste.
$369 billion
$444billion