Faustus

“Mr. Turner, Halton.”

My name. The riding I represented. Three words that meant more than any other for the years I was in Parliament. During a recorded vote in the House of Commons the Speaker would call for those opposed or in favour of a bill or motion. We stood. We were counted. This, I thought to myself, is why I’m here. To represent seventy thousand people, as best I can.

Being a populist more than a party guy (a really bad decision on my part, as it turned out), I always polled constituents online about key issues and used my freebie Parliamentary ‘mailers’ to give people a vote. Then, armed with that knowledge and my own convictions, I stood. The clerk called my name. I nodded. Sat. Waited for the outcome.

Well, it’s 2022 now. So screw that little democratic tradition. Between now and 2025 the outcome of every vote will be known. Whatever the electorate thinks won’t matter a lot, as it won’t be measured. All decisions will be along party lines, now that we have a de facto coalition government.

As you’ve heard, the Singh-Trudeau alliance sealed on March 21st has overturned the result of the federal election we plodded through six months ago. Then the people put Mr. Trudeau on a short leash, denied him a majority and set up a Parliament in which the government could fall if it strayed too far out of its lane.

Now the two leaders have joined to guarantee there’ll be no election, no lost confidence votes, no budget defeats, until 2025. Both can promise this only because they will force all MPs to vote along party lines. Therefore we’ve also lost a boatload of democracy.

In return for keeping his job as prime minister, T2 is promising the Dippers that Canada will spend more, adopt additional universal social programs and (we hear) extend new taxation across corporate Canada. All this just a few weeks before the first post-election federal budget which is apparently just now being rewritten to include the socialists’ agenda items.

At this point it’s worth recalling where we are as a nation.

In 2015, after Trudeau walloped Harper, we didn’t have a deficit. The books were balanced – revenues met expenditures. Just like in your family. That didn’t last long. In 2018 the deficit was $18 billion. The next year it was $40 billion. After the pandemic hit, the shortfall came to $314 billion. Now Covid’s over, and it’s $144.5 billion.

A deficit is the amount the government spends that it does not raise. This money becomes a part of the national debt (our collective mortgage) which is largely financed by selling bonds. In 2015, at the start of the Trudeau era, that debt was $612 billion (a billion is a thousand million). Now it’s $1.1 trillion (a trillion is a thousand billion). So, it doubled in less than seven years. In fact, Mr. Trudeau has added more debt during his time in office than every prime minister who went before – combined. That includes Harper, who had the previous one-year red ink record  of $55 billion during the 2009 credit crisis.

So what, the young voters cry? That’s Boomer stuff. We want more government, increased support and, yeah, free dental care and down payments. Go stuff your paleo insecurities about deficits and debt. We don’t care.

Here’s why you should.

Currently the trillion-dollar debt is financed at a little less than 2% after Covid crashed interest rates. Those days are ending fast. CBs have started to raise the cost of money and this week the US Fed (which largely determines moves by our Bank of Canada) said it’s about to get a lot more aggressive with rate hikes. (This is exactly what torpedoed the Mulroney government and gave us the GST.)

Already the Parliamentary Budget Officer is ringing his bell. Between now and about the time Trudeau finally calls an election the cost of servicing the debt will double – to $43.5 billion a year. That’s forty-three billion peed away in interest, or almost twice what the child benefit costs taxpayers. Just the start, too. As rates rise, so will servicing costs. And who knew the population of Canada would get older as time passes? So OAS (old folks pogey) payments will rise from about $60 billion a year to $80 billion – a 40% pop in five years.

Now Jag/Justin will (apparently) be adding in universally free drugs plus free dentistry, all when rates are inflating, borrowing expanding, debt service costs mushrooming and the kiddos are still looking for free real estate money. Oh yeah, and next year – even before this week’s NDP sell-out – the country was slated to have another deficit of $58.4 billion. And the top tax rate is already 54%.

See a problem here? Anyone?

About the picture: “This is Frida, our rescue from Lebanon,” writes Dennis.   “She is a 4 year old shepherd/hound mix who’s favorite pastime is holding hands.   Thx for all your insight and advice that really help keep things in perspective for Colleen and I.”

192 comments ↓

#1 Paul on 03.22.22 at 3:09 pm

Power hungry jerk, they wonder why there are protest.

I guess every man, woman and everything in between for yourself.
Sick

#2 Brett in Calgary on 03.22.22 at 3:10 pm

Singh and Trudeau are peas in a pod. Who needs democracy when you have morally superior leaders like them. Debt is just like money, isn’t it?

#3 Westopia on 03.22.22 at 3:14 pm

Welp… We’re screwed.

#4 Yes boss on 03.22.22 at 3:16 pm

A few of us saw the problem coming long ago. We are still waiting for the sheep to wake up.

#5 Richard L on 03.22.22 at 3:17 pm

Would you consider it acceptable to run up a huge private debt before you die and then leave it for your children to pay??

The current government claims to be helping people by excessive spending. This is not only fiscally irresponsible – it is morally wrong as it forces children who cannot vote to pay for the lifestyle we enjoy today.

Individuals who vote Liberal/NDP should bear this in mind.

#6 Liberal=NDP - FOREVER! on 03.22.22 at 3:19 pm

Welcome to the NEW CANADA!

#7 RMTL on 03.22.22 at 3:20 pm

You forgot the free poney.

#8 red falcon on 03.22.22 at 3:20 pm

Jag and JT2 are bad cats, all politicians like this are bad cats. Hence, I will call NDP leader as Bad Cat Jag, and the Liberal leader as Bad Cat Justin.

bad cat.

#9 X on 03.22.22 at 3:22 pm

Eventually someone’s gonna have to pay the piper. It won’t be pretty.

#10 Proud CERBian on 03.22.22 at 3:22 pm

My nation is coming back. I am so proud and humbled to be a CERBian for eternity, or at least 2025.

Let us all join hands and go to the ATM together.

#11 Syd Cixel on 03.22.22 at 3:23 pm

The “Jag/Just Coalition” received 50.8% of the popular vote in the most recent (and totally unnecessary) election. Therefore, it is democratically legitimate. If the coalition results in free dental care and drugs, there is one thing for sure: Pierre Poilievre won’t touch either if he forms the next government.

#12 [email protected] on 03.22.22 at 3:23 pm

Well I’m doing cartwheels. Let’s reprise the same in Ontario, WOOT!

By the by, which of the two is Mephistopheles?

#13 cmccullo on 03.22.22 at 3:23 pm

Which brings us to the elephant in the room… the currently MIA Conservative Party of Canada.

#14 willworkforpickles on 03.22.22 at 3:24 pm

#133 Diamond Dog

“I have to laugh at this. “He (Powell) can’t catch a break. He hasn’t had any luck”. The Federal reserve’s rapid expansion of the money supply is the reason why inflation is 70’s era (when the Nixon government did the same thing).”

” Bloated money supply, wealth effects, m2 pops, inflation follows, Fed rate hikes follow inflation, then recession. This is the order.”

“Wash, rinse, repeat.”
……………………………………………………………………………………………………….

That overall synopsis is outdated and no longer applies.
Many people still haven’t gotten it yet that unprecedented levels of debt never seen before changes all the old rules.
There is no Wash rinse repeat anymore as there was when still sustainable Debt to GDP ratio’s were far lower in all previous recessions.
And yes, The Fed cannot catch a break for allowing it to get this far leaving no way out but a steady downward spiral to collapse.
I’ve gone over this maybe 30 or 40 times here in the past 2 years . Its only human nature that some people never catch on. It is different this time . Very different.

I could add to this that the Fed could now be taking so much heat they may really go ahead with planned interest rate hikes enough that nothing will stop 10 year treasury yields from hitting 5% in early 2023.
Mortgage rates could then be set higher into the 7% range bringing back historically normalized interest rates sooner rather than later. A projection I made right here 2 years ago…and though interjected variables do change timelines, they rarely change eventual outcomes.
Even with the debt being too high to handle this, it doesn’t mean we won’t or can’t get historically normalized high interest rates . The Fed just may after all be prepared to crash the economy and the markets in a last ditch effort , the only one that remains , that could ever save the economy going ahead future tense.

This is much debatable though…The Fed will opt out trying to avert that crisis with more QE being the most likely outcome when hard reality begins setting in that will only wind us up in a greater inflation dilemma than ever.

#15 jimmy zhao on 03.22.22 at 3:31 pm

Import more people to work and pay taxes & pogey to old folks. People are still clamouring to get into Canada. People are desperate to come to Canada and will literally risk life and limb to get here.
Open the doors and let them come.

#16 DON on 03.22.22 at 3:31 pm

No problem Garth…we are blindly headed towards an iceberg.

#17 XEQT and chill on 03.22.22 at 3:32 pm

Canada is the only country in the world that has a universal healthcare system that does not have universal coverage for prescription drugs outside of hospitals

#18 Doug t on 03.22.22 at 3:32 pm

At this point it’s worth recalling where we are as a nation.

Yeah SCREWED

#19 Lord Garth of Izar on 03.22.22 at 3:34 pm

Now tell us about the original mandate of the Bank of Canada.

“The critical point is that between 1939 and 1974 the federal government borrowed extensively from its own central bank. That made its debt effectively interest-free, since the government owned the bank and got the benefit of any interest. As such Canada emerged from the Second World War and from all the extensive infrastructure and other expenditures with very little debt. But following 1974 came a dramatic change.”

The Bank of Canada is now a domestic terror group. Losers paying billions in interest to foreign bond holders.

Where are the god damn guillotines?

#20 Leftover on 03.22.22 at 3:41 pm

Hmm, Jag and T2 pulled an end-around democracy and will occupy the (very) hot seat until 2025. How do we think that’s going to look?

First, the bond market will bring scrotal trauma to debtors over the next couple of years, none more so than to the Government of Canada. While dewy-eyed JT will “feel your pain” in commiserating with millennial mortgage holders, and might spite banks with sector-specific taxes, our feds really don’t have any control over debt markets and it’s really gonna hurt.

Second, no matter who wins the CPC leadership, they’ll have clear sailing for just the right amount of time to settle in, rip the left-handers to shreds for a couple of years, and deal with their own backroom problems in time for 2025.

Finally, a new world order is upon us and it’s won’t be kind to the woke. Even Olaf (“I’m a progressive but I’m not stupid”) Sholz gets it; our twin comrades are going to look very foolish as NATO re-tools. Canada will get relegated to the kids’ table and it will be humiliating.

So, good luck Jag and Justin. Couldn’t happen to more deserving guys.

#21 SunShowers on 03.22.22 at 3:43 pm

Well Garth, I can definitely appreciate your populist leanings with regard to polling your constituents, but I gotta ask:

If the result of your polling indicated that your constituents overwhelmingly favored a certain policy, and the only way you could realistically secure that policy for your constituents would be to prop up an opposition party, who agreed to implement that policy in return, would you do it?

#22 Crystal ball futurist on 03.22.22 at 3:43 pm

The mob prefers J&J. So we now have two kings ruling us.

The wise few on this block are cancelled by the hip Ontario crowd.

Always wonder, if there is a clause in our constitution to fire incompetent leaders.

#23 willworkforpickles on 03.22.22 at 3:46 pm

#9 X

“Eventually someone’s gonna have to pay the piper. It won’t be pretty.”
………………………………………………………………………………………………….

No matter how rich or how poor … everyone will when all left standing are made equal.

#24 Prince Polo on 03.22.22 at 3:46 pm

The problem is the voting public thinks our dear Photo-op Minister is a Prince Charming, when in fact, he is nothing but a bullying & hypocritical Prince Barfing!

#25 Søren Angst on 03.22.22 at 3:48 pm

Oh Garth.

I love it when you get classical.

“Faust, the doctor-turned-necromancer, who makes a pact with the devil in order to obtain knowledge and power.

Both Doctor Faustus and Mephistopheles, who is the devil’s intermediary in the play, are subtly and powerfully portrayed.”

I take it that:

Faust = Trudeau
Mephistopheles = Singh

I’d say got that right.

#26 Dwilly on 03.22.22 at 3:48 pm

I voted Trudeau in 2015. Regret it now. Voted Conservative in 2019 and 2021, and the way things are today would vote Conservative again.

That said, I think this is a perfectly valid Parliamentary move. If you add up Liberal + NDP votes from the past election, it was >50% share and would have been a landslide. The daylight between the parties is as small as ever as the Liberals have shifted Left dramatically.

So, I conclude most of the country wants this. If not, they are free to punish the Liberals or NDP in the next election – but I don’t think it will be remembered that way since as a rule Canadians don’t care or care to learn about democratic processes. I suspect this will have to go on much longer / get much worse before people wake up.

#27 Repurchase Disagreement on 03.22.22 at 3:50 pm

Congratulations to Gerald Butts on the formation of the NDPL Party! Everyone will have clean teeth and lots of drugs and the temperature will be a constant 22°C. Utopia.

Let the Brain (and Capital) drain begin!

#28 JM on 03.22.22 at 3:52 pm

Trudeau said he doesn’t think about monetary policy. Why is anyone surprised?

#29 Dr V on 03.22.22 at 3:52 pm

And taxes. Everywhere. Here are my predictions

1) Lifetime TFSA contribution limit of $100k (because only the rich have TFSAs)
2) No further increase to income level for the OAS
clawback (because you are rich if you make that much)
3) Change in RRSP rules to limit deduction to apply to income for max contribution (about $165k). Income above that charged at marginal rates. Only effects the rich.
4) increase in all income tax rates (just a little because we are all patriots)
5) increase cap gains inclusion because only the rich have cap gains (they will taper this to allow a certain amount at the current half to win pensioner votes)
6) cap gains on PRs that will also be tapered but the calculation will be so complicated you’ll need an
accountant.

Death by 1000 taxes……

#30 Jim on 03.22.22 at 3:54 pm

When T2 took over the books were balanced but in order to get their we had to offload 25 billion of GM stock at a loss. If we had held on for another 18 months we could have sold at a profit. So revenues= expenses but the following year we would have fallen back in the red.

For the record I think the current government is an absolute joke but I still feel the need to be pragmatic and call out BS when its being peddled.

#31 Banned on 03.22.22 at 3:56 pm

“Justin is just a little misguided” ~ Gartho

#32 Jerry Garcia on 03.22.22 at 4:01 pm

Did someone say free drugs?

#33 Sail Away on 03.22.22 at 4:03 pm

I, for one, feel strongly optimistic that fiscal prudence will win the day, citizens’ assets will be protected and luxury real estate will remain eminently reasonable…

Because while a third rate Surrey crack shack at first glance may seem expensive, it’s still only slightly more than a luxury waterfront Hawaiian villa.

#34 Ponzius Pilatus on 03.22.22 at 4:03 pm

turned on the TV just when Sen. Ted Cruz grilled Judge Jackson on her Supreme Judge nomination meeting.
It’s becoming more and more obvious that the Golden Boy of the Republicans is losing it.
Goodbye, Presidential ambitions.
One less rival for Trump.
Should be warning to PP in Canada.
Being smart and a good speaker is not enough.

#35 Steve on 03.22.22 at 4:05 pm

Remember it’s ONLY PAPER and the budget will be balanced anyways…..

#36 Ponzius Pilatus on 03.22.22 at 4:06 pm

FAUSTUS
Making a deal with the devil.
Who’s the devil?
:)

#37 Søren Angst on 03.22.22 at 4:07 pm

Maple up for me today. Oil slightly down today, a few cents.

Pro’s here will laugh at my paltry gains but for my Threadbare Portfolio I’m:

+7.19%

last 30 days.

With the war and all thought I would be in -‘ve territory. Instead no.

Loving your B&D, value over growth, etc. ideas Garth et. al. Putting them into action the best I can afford. Also, add to that my high dividend only ETF/ETN Retiree mantra.

So far, working out well. I’m happy with my low and steady gains.

#38 Søren Angst on 03.22.22 at 4:09 pm

PS:

If there were such a thing as a handsome dog, Frida would be it.

#39 TrudeauPartyDiscipline on 03.22.22 at 4:10 pm

Trudeau does not like dissent or answering questions in Parliament…

So he can let Jag pull a few strings. With the Liberals it’s always about power, and lately not about principles. And more photo ops for Mr. Blackface Costumes ‘R’ Us.

#40 Sail Away on 03.22.22 at 4:11 pm

has our chief sa athletic supporter noticed… um… tsla?

#41 wallflower on 03.22.22 at 4:12 pm

In a world of chillults [children who are now adults in physique only] and adulren [adults with the social and mental capacity of children who are taking on adult responsibilities], I wonder, is the virtual world enabling or facilitating this? or did the virtual world come along because of the impending promise of this weird future?

Badults [bad adults] are everywhere and have always been so, but their kin, chillults and adulren, are relatively new on the molecular phylogenetic tree of life.

Until recently, I simply lumped them all into the badult category but it seems, on closer inspection, we really are witnessing new species.

#42 Soviet Capitalist on 03.22.22 at 4:14 pm

The Evil (NDP, Liberals) have no problem uniting, while the Good (PC, PPC, truckers) fail to find common ground. You can see the results.

Nobody wants to unite with Max or Tamara. – Garth

#43 The real Kip (Ret) on 03.22.22 at 4:19 pm

It’s about time this rich country finally will deal with universal pharma and dental care. It should’ve been done long ago. Kudos to Jagmeet and Justin for pushing this forward. Long overdue.

#44 David on 03.22.22 at 4:22 pm

Nobody admits to voting lib/ndp the same way that nobody admits to buying a NKOTB CD or Michael Jackson CD. The libs own the gta and every homeowner in the gta has made at least $1M tax free the past 2 years. Why would expect any of them to give a crap about any of this. “Honey, pass the caviar and sent the maid home early tonight”.

#45 Cheese on 03.22.22 at 4:23 pm

How does this not end in violence? I know violence is the last resort of the incompetent, but it may also be the last resort of the destitute as well.

#46 Cash is King on 03.22.22 at 4:24 pm

In an unrelated press release, the Canadian Dental Association is predicting that the cost of basic teeth cleaning and xrays are expected to increase 25% in 2023. and 2024, and 2025….

My Father needed orthopedic shoes which were not covered by his company paid benefits. Would cost him close to $200 to purchase. When the next contract added orthopedic shoes with maximum coverage totaling $200, my Father still had to pay $100 out of pocket. Cost of the shoes increased to $300 because they were now included in the benefit plan.

#47 Freedom First on 03.22.22 at 4:27 pm

Welcome to the “George Orwellian New World Order”

Freedom First

#48 Warren-the-lagging_indicator on 03.22.22 at 4:31 pm

Should not be any problem if the reopening trade is intact as the percentage of debt to GDP should drop from over 100% at present to more manageable levels around 60-70% in a few years. The culling of the herd is not necessary and just up the level on immigration a bit. Is that not why we hit the big red reset button anyways?

#49 Mr Squiggle on 03.22.22 at 4:36 pm

DELETED (Anti-immigrant)

#50 alexinvestor on 03.22.22 at 4:37 pm

If you don’t like the deficit, don’t save in Canadian dollars. The fact that capital flows freely gives you choice, no matter what the Liberals/NDP do.

#51 Millenial vs Boomer on 03.22.22 at 4:39 pm

As much as people may dislike the Boomer generation, at least Boomers were spending their own money which was wealth their generation greated. Millenials are voting in politicians so they can feast off future generations’ wealth, and the dislike future generations stuck with Millenial bills will have for them will be something to behold.

#52 HonestEnD on 03.22.22 at 4:40 pm

Did the TSX already bake the creepy Trudeau-Singh love bugs into its forecast? I’m scared. Barf…

#53 Slim on 03.22.22 at 4:40 pm

This might’ve been the plan all along between these two. Trudeau getting into bed with Singh. Regardless of the results of the last election. Just brilliant!

#54 pk on 03.22.22 at 4:42 pm

Serious question Garth,
Do you believe there will be an election in 2025 ?
From what I have seen I would not put it past him to have somehow manipulated the system to get an indefinite extension.

#55 John on 03.22.22 at 4:48 pm

Mr. Biden and Mr. Trudeau. Please send us all “mo free money and other free stuff”. We don’t mind taking it. We like it and we will spend it. I promise we will leave once it’s all gone and there is no more free stuff.

Mucho Gracious………..all the takers with our hands out!

#56 WTF on 03.22.22 at 4:52 pm

Which brings us to the elephant in the room… the currently MIA Conservative Party of Canada.
————————————————————–
Bingo.

That nauseating sock puppet PM we have had foisted upon us by the Lib Caucus makes me want to puke. Fiscally incompetent is a complement apparently,

The circular firing squad called the CPC better get their act together and stop pandering to the small minority of screaming malcontents on the alt right/religious spectrum if they have a hope in hell of getting any more votes than last time. Winning the west means diddly when the ROC and its 30+ million people think you are batshit crazy

#57 Luciano Franco on 03.22.22 at 4:54 pm

What is the end game here Garth?
Please write up you 2 cents here.
Where are we going ? Are we royally phu****?
Thanks

#58 Liberal=NDP - FOREVER! on 03.22.22 at 4:59 pm

C’mon Max Baby, do your part and rip apart the Conservatives!

YAYYYYYYYYYYYY!!

FREEDUMB CONVOY FOREVER!!!!!

#59 Not Crazy on 03.22.22 at 5:00 pm

Will this coalition also end all unwanted questions and debate on the committees? IE neuter the emergency act committee

#60 David Prokop on 03.22.22 at 5:07 pm

There go your rates hikes Garth
BoC will never seriously hike, Justin and Jagmeet need to spend and spend.
Our housing bubble just got bigger, buy now or be priced out for life

#61 All lies and manipulated on 03.22.22 at 5:09 pm

Therefore we’ve also lost a boatload of democracy.

And you deleted me because I called him a dictator?
Its all incremental till its all gone… WTF can’t he be stopped?

#62 Rick on 03.22.22 at 5:09 pm

Watch out, Canada’s credit rating will be decimated. We could easily see the days of double digit interest rates. Maybe we will finally see 10% to 11% GIC, bond rates like back in 1990, 1991. Remember, reported last week, inflation was the highest in 30 years+, 1991, 5.7%. Looks like it is coming again. If you have debt, you are so in deep crap.

#63 Franco on 03.22.22 at 5:12 pm

I really do not see a problem with this, people have dental care and Pharma care as social programs is a good thing, it makes people feel good to be able to stay healthy and when people feel good, good things happen.

#64 Ponzius Pilatus on 03.22.22 at 5:14 pm

#52 pk on 03.22.22 at 4:42 pm
Serious question Garth,
Do you believe there will be an election in 2025 ?
From what I have seen I would not put it past him to have somehow manipulated the system to get an indefinite extension.
————–
Nothing manipulative and illegal.
Blame ineffective and out-of-step opposition.
Coalition governments are in charge in many democratic countries.
The current Israeli Government had 8 parties originally.
Now down to four.

#65 Ponzius Pilatus on 03.22.22 at 5:16 pm

#62 Franco on 03.22.22 at 5:12 pm
I really do not see a problem with this, people have dental care and Pharma care as social programs is a good thing, it makes people feel good to be able to stay healthy and when people feel good, good things happen.
——————-
And keep people out of the hospitals.
Building and maintaining hospitals is very expensive.

#66 Victor Maitland on 03.22.22 at 5:21 pm

I think the NDP panicked when it looked as though Freeland was going to shelve a few of those boutique social programs in favour of new military spending after the Russian invasion. Can’t let world events get in the way of being “progressive”.

#67 Comrade on 03.22.22 at 5:22 pm

Mr. Turner, you promised us economic recovery and life of riches after the pandemic, but Trudeau and Jug have different plans.

#68 When Will They Raise Rates? on 03.22.22 at 5:22 pm

We can overturn the results of the last election, too:

BILL C-269

Recall all of the MPs in ridings in which the PPC vote was larger than the Conservative margin of defeat. There are enough of those ridings to overturn the election.

All you need is enough signatures (25% of votes cast) to remove the MP and trigger a recall election in each respective riding.

You make a deal with the PPC to not run a candidate in those ridings, resulting in the Cons winning all those ridings, and the election is overturned. Viola.

^ That idead has been swirling around in my head since the election, but I knew that it would be viewed as an attempt to overturn the election and people would complain… But now that Trudeau did this… I think it’s fair game.

The PPC is dead meat after Max’s shameful performance during the convoy occupation. – Garth

#69 crowdedelevatorfartz on 03.22.22 at 5:24 pm

Can we just call the new “leadership” of Canada …. J2 ?

#70 TMac on 03.22.22 at 5:25 pm

People will learn their lesson for this mess once more wealth flies out of this country and jobs along with it.
Tax the banks more? Sure, they wouldn’t raise fees in order to pass that cost down to people.
Why don’t these people understand how business or even basic economics work?

#71 THE DANDADA on 03.22.22 at 5:27 pm

Great for BITCOIN. I’ll keep buying more.

Good luck to you fiat (fake) money lovers.

Like Charlie Munger articulated 2 weeks ago …. the dollar is going to ZERO!

#72 TurnerNation on 03.22.22 at 5:30 pm

Just another day in a Former First World Country. We fell, March 2020.
Gee what could go wrong. Could more of the Internet Consp. Theorists’ evidence and predictions come through? Stand by.


–Comrade, are you following the rules this summer? Always the Rules in Kanada. No fun allowed.

https://www.blogto.com/radar/2022/03/canadas-wonderland-opening-rules-2022/
“Canada’s Wonderland is opening for the season next month and here are the new rules”

— But why? Softening us up for the coming E-currency and Digital ID. Oh yes, Ontario’s drops in late 2022. Also why the Federal “mandates” still are in-place. You will need the Mark to buy and sell.
The lengthiest punishing Economic and Social lockdowns took place here. Our governments sold out and were doing all of this to fulfill the external contracts.
Your tried complying your way out of it. How did that work out.

.Toronto is a global leader in COVID-19 vaccination coverage (toronto.ca)

#73 Victor Maitland on 03.22.22 at 5:35 pm

@#19, the BoC bought billions and billions in government debt at next to no interest during the pandemic. Hasn’t that been inflationary enough for you? You want more of that?

There is no comparison to the post-war era, because we were part of the Breton Woods framework back then. That meant that the government’s desire to run the printing press was kept in check by our commitment to keep our currency at a specific level. Breton Woods fell apart in 1970, and thus the interest-free borrowing had to end as well. There is no such thing as free money. A lesson we will be learning all over again as inflation crosses 6% and keeps going.

#74 Damifino on 03.22.22 at 5:39 pm

All that’s happened is the existing under-the-table coalition is now admitted and officially extended. Pierre Poilievre must have scared someone quite badly.

#75 $HOUS on 03.22.22 at 5:39 pm

Uppa uppa. You can’t afford to buy, but builders can’t afford to build. A stalemate, where mildly reduced demand is not enough to overcome completely non-existent supply.

How many ‘New Canadians’ will get off the plane only to realize we actually don’t have a home for them to move into? The new adventure may not last as long as they dreamed it would.

#76 Repurchase Disagreement on 03.22.22 at 5:40 pm

T2 in Question Period today… Actual quote while the Opposition were loud and using bells of some sort:

“Mr. Speaker, the ringing of these bells is not ideal for me”.

#77 Linda on 03.22.22 at 5:47 pm

At some point this ever increasing mountain of debt will have to be dealt with. Yes, there are some 10 million Millennials/Gen X/Y/Z adults who have been replacing the Boomers as the main working population (the youngest Boomers will all of them turn 57 this year). So by 2025 all Boomers will be aged 60 plus. While retirees still pay taxes, the fact that income at retirement tends to be lower than income earned while working means that tax revenues decrease as well. Those who decry immigration ignore the demographic reality of an aging population upon tax revenues. We need those young folks to keep this party going!

#78 zxcvbnm on 03.22.22 at 5:50 pm

I’m just going to keep voting my heart. PPC all day everyday. Will be interesting to see how the Liberals and NDP deal with the shit-storm-a’brew’n

#79 AM in MN on 03.22.22 at 5:52 pm

Populism and polling…

Always done with an outcome in mind. Never asking about the trade-offs.

They say a majority want “climate change” policies, yet if they polled on the questions of how much each individual was happy to pay, more than already paying, say $1000/month. what would the answer be?

How many here would gladly pay an extra $1000/month to have a “climate friendly” government?

They asked Henry Ford why he didn’t take polls of his customers. He told them that if he asked his customers what they had wanted 5 years ago, they would have said “a faster horse” Leaders don’t take polls, they drive them.

Just like the deal Sr. did with the NDP in ’72, and look where that got the country?

#80 Philco on 03.22.22 at 5:58 pm

I think T2 could feel the disenchantment in the general population growing louder daily.
Motivating him to pull the trigger on this coalition.
He is someone that preaches democracy and you no what that means….
Actions are far more powerful than words. Maybe he thinks if he repeats himself enough we might actually believe him.

#81 Stoph on 03.22.22 at 6:03 pm

Jag the kingmaker.

From what’s being reported, Jag’s going to get some targeted social spending and T2 can govern with confidence that key legislation will pass and that he won’t face a non-confidence vote. Not a bad deal for Jag.

It seems to me though that T2 shouldn’t need such a deal to avoid a non-confidence vote if his only goal was to stay in power. This deal however allows him to pass legislation that the other parties wouldn’t support (including the NDP if it weren’t for the deal) and remain in power. Perhaps some centrist legislation that’s too right for the NDP and too left for the Conservatives.

Although the deal is said to be for three years, I suspect that if partway through it’s no longer in the best interest for either Liberals or NDP, it’ll be cancelled. (I’m thinking of the case of the NDP and Greens in BC).

Anyways time will tell how this all works out.

#82 A Dollar is a Dollar is a Dollar on 03.22.22 at 6:03 pm

Tax everything, no assets or income gets treated like ‘special’ toddlers like our system does today.

Stocks. Dividends. Property. Inheritance. Foreign assets. Shares. Everything.

Plus a tax on all transactions and transfers – simple, transparent, and low priced compared to other taxes.

We’ll solve all our debt issues in a year or two.

Anyone who deosn’t like that – catch a bus to the third world, maybe Ukraine. Enjoy.

#83 Shady Lady on 03.22.22 at 6:04 pm

More spending, more people…. Does that mean the houses are going up in price again?

#84 Alberta Ed on 03.22.22 at 6:05 pm

Canada’s once honorable House of Parliament has just become a house of ill repute, thanks to Singh and Trudeau.

#85 Caffeine Monkey on 03.22.22 at 6:06 pm

So many people in the peanut gallery were certain that rates would never go up because the government is handcuffed to Canadian real estate prices. Well, as we found out today, the US Fed doesn’t care anything at all about how much your mouldy East Van bungalow has appreciated in the past 5 years. They’re going pedal to metal, and there’s nothing we can do about it.

#86 Stoph on 03.22.22 at 6:10 pm

As far as expanding health coverage to include dental and pharmacare; I could soonest support extending some sort of coverage for kids. It’s not their fault if they don’t have coverage. Plus they’ll end up picking up the tab for it years later once they are adults.

#87 Millennial 1%er on 03.22.22 at 6:11 pm

I’ve paid more taxes this year only than 50 NDP/Liberal voters have in their lifetime

#88 Debtslavecreator on 03.22.22 at 6:17 pm

Let them eat lentils ! Cake is to expensive anyway !

#89 I don’t know on 03.22.22 at 6:17 pm

75 $HOUS on 03.22.22 at 5:39 pm

Correct about the stalemate, and house prices continuing to increase.

However, a lot of those new Canadians are the ones looking to buy in far flung areas, because of cost.

Many have already. Good move.

The idea that all houses are being purchased by speculators is false. Most of my peers (35-40 year olds), have purchased to raise families. This is why demand is so high, and with the entire millennial cohort slowly entering family formation mode this is unlikely to change, regardless of rates.

You buy dirt when you can afford to.

IDK

#90 Cheese on 03.22.22 at 6:21 pm

T2 and Jag going to wreck the petroleum industry when oil prices are at all time highs….

The question is..

Sell XEG now? or wait…

#91 Ponnaps on 03.22.22 at 6:23 pm

Despite all these headwinds why is the demand for CAD still so strong?

#92 Comrade on 03.22.22 at 6:32 pm

Putin suddenly looks like an angel compared to these power hungry crooks.

On the positive side, home prices will keep goinf up for another 2-3 years at least.

#93 Reality Check on 03.22.22 at 6:35 pm

Two historic notes from an old fart

1) the Liberals used to be Bay Street’s party. The party of wealthy, enlightened elites – people who saw themselves as progressive but also realized we had to have a strong economy to support social programs. We are talking the likes of John Turner, Paul Martin and the ultimate rich elitist Mr “trust fund himself” Pierre Trudeau. Now the Liberals are controlled by enviro-social liberals and further “socialized” by the deal with the NDP.

2) pre 1980 it was said the amount of interest paid by the federal government did not matter. Government bonds for the most part it was said were owned by Canadians and Canadian institutions. So the interest paid was to “ourselves” and to a point recovered through income tax. Of course in todays global financial market that is no longer the case.

#94 cuke and tomato picker on 03.22.22 at 6:38 pm

We pay for enhanced dental does this mean we will not have to have this deducted from our pensions? Also
our prime minister has been planning this since he was9.Those who are not happy can through their name in the hat in 2025 and solve all the problem they keep grumbling about since 2015 they have time to get
their act together. Also will those 75 and older still get their 10 per cent on the OAS as promised. We worry
about our debt and people just expecting the government to pay for everything makes everybody LAZY. GLORY TO THE UKRAINE.

#95 Catalyst on 03.22.22 at 6:38 pm

Conservatives are just jealous they are getting the muzzle until 2026. As a con voter, it stings but after surveying a few lib and ndp friends, they think its great.

It’s going to take complete collapse of Canada to change their minds as 10% inflation and constant degradation in quality of life isn’t Trudeaus fault, its greedy corps (in their eyes).

These people don’t understand that corporations bring needed products. services and technology. They view any profit as theft (look at Jag’s tweets for a real head spinner).

When greater than 50% of the population pays no net tax, the debt conscious are really a joke to most. They don’t connect the declining quality of health care with the declining financial condition of provinces. It’s sad.

What irks me most is the constant income testing of everything. It encourages you to not grow a career or try and grow or you lose your benefits and gov’t handouts. I’ve never seen a comprehensive study on the fact, but I’d imagine many individuals making 100k will be worse off than 50k once you strip out child benefits, daycare benefits, dental benefits etc. in this new income tested world. Look at QC. Giving $500 to everyone (except if you make too much). To combat inflation no less. *rolls eyes*

#96 Barb on 03.22.22 at 6:39 pm

Frida’s eyes show her gratitude, Dennis. She’s one lucky pup.

“All decisions will be along party lines, now that we have a de facto coalition government.”
That’s democracy hitting the wall.

All hail Prime Minister Jag.
*cough cough*

#97 Observer on 03.22.22 at 6:40 pm

#21 SunShowers on 03.22.22 at 3:43 pm

I see what you did there!

#98 Quintilian on 03.22.22 at 6:41 pm

Seems to me the NDP and Liberals are a true representation of proportional representation.

Canadians have voted, and the message is clear.
The Right has been exiled into the wilderness.

As I posted many times before, the Cons do not offer a viable alternative.

It’s so sad that there are so many of you curmudgeons who have not matured and evolved up the Maslow’s pyramid of hierarchy.

Most of you are old enough to be grandparents, and yet you seem to be stuck in the self-preservation gutter with no appreciation for social evolution of mankind.

Sad.

#99 under the radar on 03.22.22 at 7:02 pm

CB’s are seriously behind the curve and they know it. Bullard is right , front end load the .50bps hikes now. People renewing in the next 2 -5 years need to prepare for 7 % mortgages and a 60 cent dollar.

#100 More free $$ to counter inflation! on 03.22.22 at 7:03 pm

Ralph bucks dans La belle Nation..

$500 for everyone! hey is there an election coming up!

https://nationalpost.com/news/canada/quebec-to-hand-out-500-payments-to-residents-to-counter-inflation

#101 Reality is stark on 03.22.22 at 7:15 pm

The man, like his father spend like drunken sailors. A true Keynesian builds a surplus when times improve.
Not this clown.
Just like Chrétien and Martin had to clean up the mess another set of responsible adults will be forced to mop up by the bond vigilantes.
They will extract a toll.
I wish the new young Ukrainian women well as they put their lives together here in this country. I have no doubt that they will be the ones to prosper.
Hopefully they can bring some common sense here and eradicate the current victim bailout social justice mentality that permeates this society.
A growing contingent that is sustained by Prozac votes socialist for more free drugs.

#102 Doug t on 03.22.22 at 7:15 pm

#98 quintilian

DUDE Maslow’s pyramid of hierarchy is so yesterday and is Social devolution DUDE

Sad

#103 Linda on 03.22.22 at 7:17 pm

#82 ‘A Dollar’ – Tax everything equally? This will ‘solve all our debt issues’? IF & when any deficit situation becomes a surplus the first item of business for any government is to address the endless list of items to spend $ on. The queue of supplicants looking for funding is never ending. As for a low tax rate, be realistic. Whatever the initial percentage, it will creep upwards & far faster than one would believe possible.

#104 IHCTD9 on 03.22.22 at 7:20 pm

I’ve recently given up on my latest project. That being dispensing with my faith in a couple thousand years worth of economic theory, and forcing upon myself belief in MMT – that spending hundreds of billions worth of cash we don’t own has no consequences.

Despite my absolute maximum effort at becoming a brain dead nimrod, I have nonetheless failed. I wanted to think Trudeau had a clue, and that he actually wasn’t a dunce cap sporting goof. But I just couldn’t get there, no matter how hard I tried.

Instead, my functioning brain told me to chill. It said, “Dude, you own a house free and clear, you have hundreds of thousands stuffed 100% into tax sheltered investments, your household CPP’s, OAS’s, and govy DBP will cover all your expenses and then some. You have no debt, and you’re headed for a 6 figure retirement income. Just be glad you did not come of age under a Trudeau Liberal government.”

To this… I had no reply. My properly functioning brain was unassailably correct on all points. I got no worries, because when I started out, Canada had smart politicians, and sound fiscal/monetary policy. I’ve never voted for Trudeau.. err, Jagstin Trusingh, so my conscious is clear. Youth and newcomers will feed my retirement while working 2 jobs. Nothing I can do about it. After all, they voted the guy in amirite?

#105 crowdedelevatorfartz on 03.22.22 at 7:22 pm

@#98 Quintilian ways to be wrong.

“Maslow’s pyramid of hierarchy.”

+++

Never mind us greedy Boomers.
Where does Putin fit on the pyramid or did he skip that lecture…

#106 Philco on 03.22.22 at 7:23 pm

#79 AM in MN on 03.22.22 at 5:52 pm
Populism and polling…

Always done with an outcome in mind. Never asking about the trade-offs.

They say a majority want “climate change” policies, yet if they polled on the questions of how much each individual was happy to pay, more than already paying, say $1000/month. what would the answer be?

How many here would gladly pay an extra $1000/month to have a “climate friendly” government?

They asked Henry Ford why he didn’t take polls of his customers. He told them that if he asked his customers what they had wanted 5 years ago, they would have said “a faster horse” Leaders don’t take polls, they drive them.

Just like the deal Sr. did with the NDP in ’72, and look where that got the country?
——————————-
I think if throwing more money at a problem was the answer we would have zero problems these days.
That’s the sell. Just a little more tax and we will get our shit together.
So how many have an extra thou for the toilet? It won’t make it go away…lol

#107 When Will They Raise Rates? on 03.22.22 at 7:25 pm

The PPC is dead meat after Max’s shameful performance during the convoy occupation. – Garth

Perhaps. However, in the scheme I previously outlined, you could bring Max into the fold, along with all of his supporters… Simply make him the Conservative candidate in one of the recall ridings and make him deputy PM or some other cabinet position in exchange…

We could have Pierre Polievre in power by Christmas.

Bernier is a racist, anti-science egomaniac unfit for public office. – Garth

#108 Soviet Capitalist on 03.22.22 at 7:25 pm

The Evil (NDP, Liberals) have no problem uniting, while the Good (PC, PPC, truckers) fail to find common ground. You can see the results.

Nobody wants to unite with Max or Tamara. – Garth

My guess is that Justin doesn’t want to unite with NDP neither. He did it because that’s what is getting things done for him.

I get it, it’s hard to love some people, but isn’t it that in politics it’s not about who you love most and more about who you hate least?!

By not uniting with Max and Tamara, PC are unwillingly uniting with Justin and NDP. Is that a better option?

#109 Kate on 03.22.22 at 7:30 pm

And what can be done about this?

#110 Shawn on 03.22.22 at 7:33 pm

Toddlers to Pay for Their Own Daycare?

#5 Richard L on 03.22.22 at 3:17 pm

Would you consider it acceptable to run up a huge private debt before you die and then leave it for your children to pay??

The current government claims to be helping people by excessive spending. This is not only fiscally irresponsible – it is morally wrong as it forces children who cannot vote to pay for the lifestyle we enjoy today.

************************************
Toddlers are now getting very heavily subsidized day care up to about age 6. This is paid for strictly with borrowed money since it was added into a budget that was already in deficit.

The joke is on these toddlers who will have to repay the debt (with interest) that paid for their daycare. If you hear any toddlers crying, that might be why.

#111 Buy Banks on 03.22.22 at 7:33 pm

The yield curve inverted.

Anyone wanna buy banks>

#112 DON on 03.22.22 at 7:49 pm

#98 Quintilian on 03.22.22 at 6:41 pm
Seems to me the NDP and Liberals are a true representation of proportional representation.

Canadians have voted, and the message is clear.
The Right has been exiled into the wilderness.

As I posted many times before, the Cons do not offer a viable alternative.

It’s so sad that there are so many of you curmudgeons who have not matured and evolved up the Maslow’s pyramid of hierarchy.

Most of you are old enough to be grandparents, and yet you seem to be stuck in the self-preservation gutter with no appreciation for social evolution of mankind.

Sad.

************
Check out what #41Wallflower said.

I tend to think in terms of streams of like minded folks that transcend the generations rather than sterotypes that are latched onto by ‘easy’ thinkers.

My parents and aunts-uncles were the first of the boomers. Those folks worked hard and had different opportunities than I did when I became an adult, but I had more modern opportunties that they could only wish for.

The boomers and millenials etc, are not the problem…ignorance, stupidity, recency and group thinking are.

Reminds me of the tsunami footage after the earthquake and the tourists walking to the besch to investigate…moments later a rush of crashing water.

Then there is the ‘everyone is doing it stance’ that justifies jumping in with no thought about risk management. All happy path blue sky thinking based on inexperience in most cases.

#113 Jontown on 03.22.22 at 7:54 pm

Poor dental health can lead to a whole host of other health problems that will cost the health system more down the line while a national drug scheme allows us to negotiate drug prices collectively, lowering the cost for everyone. As much as we need to address our ballooning debt, these programs do make some sense.

If only there was an asset class producing huge windfalls that could be taxed to balance things out….

#114 Rjay on 03.22.22 at 8:05 pm

My ex used to say “When you really think about it there is no difference between buying on credit and saving to buy except you get the stuff sooner.” Did I mention she’s my ex?

#115 Sail Away on 03.22.22 at 8:11 pm

#104 IHCTD9 on 03.22.22 at 7:20 pm

I’ve recently given up on my latest project. That being dispensing with my faith in a couple thousand years worth of economic theory, and forcing upon myself belief in MMT – that spending hundreds of billions worth of cash we don’t own has no consequences.

———

Heretics will be burnt at dawn

#116 Annek on 03.22.22 at 8:31 pm

6 Cash is King on 03.22.22 at 4:24 pm
In an unrelated press release, the Canadian Dental Association is predicting that the cost of basic teeth cleaning and xrays are expected to increase 25% in 2023. and 2024, and 2025….
…..
The government will pay the dentists what they want to pay. And it will not be what the Canadian Dental association wants. Look what happened to optometrists fees and pharmacist fees in Ontario. As well, extra billing will not be allowed. Wait and see.

#117 mike from mtl on 03.22.22 at 8:31 pm

Well at least that seals it, house prices are not going down for a while yet. 60 year amorts, loan forgiveness, CHMC bailout, tax the banks, whatever it takes.

If it hasn’t already been laid bare, nothing is off the table with these clowns.

#118 Hiding on the Backstreets on 03.22.22 at 8:33 pm

T2. Jagmeet. Libs. Dips. What’s the difference? It’s a New Canada, people. We on this site are dinosaurs.
Universal child care. Federal governments job to raise kids. or house citizens. Wish my parents knew that in the 70s.

It’s over. Protect your wealth and scram. Lib left voters pouring into the cities. Canada changed in my 50 years. Gonna be more fragmented from here on.

#119 Cowtown Cowboy on 03.22.22 at 8:38 pm

Can’t wait to watch it all burn, the teeth gnashing from the idiot left will be truly epic as they lose tens of thousands a month as interest rates climb all while arguing over pronouns…serves Canada right for even considering voting in socialists. Retirement in a few years is looking better and better.

#120 HH on 03.22.22 at 8:52 pm

I am trying to wrap my head around this national pharmacare and dental stuff. Would it be based on household income? How will extended health care companies like Blue Cross fit into this? BC has a pharmacare program. What would happen to that?

Last year I spent $2100 on consumption taxes for one person and a cat. And then there’s income tax and property tax as well as regular living expenses. I’m not voting for any party that pushes for more and more taxes that funds other people’s whims but I don’t get anything out of it.

#121 IHCTD9 on 03.22.22 at 9:00 pm

#98 Quintilian on 03.22.22 at 6:41 pm
Seems to me the NDP and Liberals are a true representation of proportional representation.

Canadians have voted, and the message is clear.
The Right has been exiled into the wilderness.

As I posted many times before, the Cons do not offer a viable alternative.

It’s so sad that there are so many of you curmudgeons who have not matured and evolved up the Maslow’s pyramid of hierarchy.

Most of you are old enough to be grandparents, and yet you seem to be stuck in the self-preservation gutter with no appreciation for social evolution of mankind.

Sad.
—-

Sad? How sad would you be if your paid for house more than doubled in value since 2015? Would you be upset with 6 figure gains in your investments? The cons can be exiled to infinity if these are the consequences I have to suffer.

This is definitely the kind of “social evolution of mankind” I can get into. The more free cash I get from the Libs, the more evolved my curmudgeonly garage gets.

If it isn’t crystal clear by now, a vote for Trudeau means my house soars even higher in value. A vote for Trudeau means another 100K+ gets pile-drove into my bank account. Fill your voting boots, I like free cash just as much as the next guy. I never had it near so good under Harper.

#122 neptunian on 03.22.22 at 9:04 pm

respectfully,

I would like to to ask those who voted Liberal 6 months ago:
1. what are the top reasons behind your vote?
2. are you happy now?

#123 Satori on 03.22.22 at 9:14 pm

Dental health, day care, medicare, medicinal weed care, massages care, coffee care, pet care? Why work? Why bother?

In the states dental care/work is a 1/4 of the price. You know why, because when Canadian companies see the government is ‘buying’ they raise the price.

An office chair for health care is $1600 from our ‘registered vendors”…. the same chair I can get on Grand and Toy is $110.

We’re a sneeze away from becoming a ‘corrupt’ country. Wait and see, under the table deals are all ready being made, pretty soon that will be the only way to get a leg up.

#124 Steven on 03.22.22 at 9:22 pm

Just in time. Approaching 65 and now pharmacare and dental cost will be taken care of. Great timing!

#125 DON on 03.22.22 at 9:22 pm

#113 Jontown on 03.22.22 at 7:54 pm
Poor dental health can lead to a whole host of other health problems that will cost the health system more down the line while a national drug scheme allows us to negotiate drug prices collectively, lowering the cost for everyone. As much as we need to address our ballooning debt, these programs do make some sense.

If only there was an asset class producing huge windfalls that could be taxed to balance things out….

********&**
A carbon tax at the same rate as the GST?

Stable coalition…things can get pushed through.

#126 IHCTD9 on 03.22.22 at 9:25 pm

#94 cuke and tomato picker on 03.22.22 at 6:38 pm
We pay for enhanced dental does this mean we will not have to have this deducted from our pensions? Also
our prime minister has been planning this since he was9.Those who are not happy can through their name in the hat in 2025 and solve all the problem they keep grumbling about since 2015 they have time to get
their act together. Also will those 75 and older still get their 10 per cent on the OAS as promised. We worry
about our debt and people just expecting the government to pay for everything makes everybody LAZY.
—- – ——

Answers in order of appearance:

1. It’ll still be deducted
2. Who cares at this point. Libs make me rich.
3. 50/50

Every Dentist in Canada will be voting Lib next go around. If this plan flies, getting a filling will cost 100% more the year after. Greedy corporations right homie?

#127 Observer on 03.22.22 at 9:26 pm

I think we should have pharmacare and dental but only for those who would struggle or be unable to pay for them on their own. In the end it costs us less if we help people to maintain their health than deal with the fall out later (example untreated diabetes).

With respect to universal child care (not part of the NDP/Liberal collaboration), why should Canadian taxpayers pay for child care for children of people who can afford to pay for it themselves? Seems to me government funded child care should also be means tested.

#128 Trudeau-Singh alliance is brilliant! on 03.22.22 at 9:26 pm

Canadians never cease to amaze me. The call the politicians dumb, idiots and worse. The fact is, they are much savvier than you think.

They understand how to work society over using carefully scripted speeches and methodical tactics to steer policy to suit their favor.
The Honorable Mr. Justin Trudeau is smarter than the average bear. Emboldened by recent events, the future will hold even more wonderful surprises to wow the Canadian populace with Liberal ideas.

This recent partnership with Jagmeet Singh was quite impressive in the sense that it protects his tenure as Prime Minister will stay intact until 2025. Who would have thought this would happen?

Canadians voted for both these Liberal/NDP parties and liked what they saw and heard during the past election. Citizens got what they wanted, and the government is delivering on that support.
Mr. Trudeau will impress you with more things yet to come.

Anyone who voted for him will be pleased and re-affirms that those convoy participants opposing him were just “Free-Dumbers”.

#129 Observer on 03.22.22 at 9:28 pm

#113 Jontown on 03.22.22 at 7:54 pm
If only there was an asset class producing windfalls that could be taxed to balance things out….

^^^^^^^^^^^^^
Yeah, can’t imagine what that would be.

#130 crowdedelevatorfartz on 03.22.22 at 9:29 pm

@#113 Jontown

“If only there was an asset class producing huge windfalls that could be taxed to balance things out….”

+++

Yep.
The tax free gains from housing sales are becoming more and more indefensible when taxpayers support CHMC which supports Banks which support the housing shortage…..
Over to you ponzie.

#131 IHCTD9 on 03.22.22 at 9:37 pm

#43 The real Kip (Ret) on 03.22.22 at 4:19 pm
It’s about time this rich country finally will deal with universal pharma and dental care. It should’ve been done long ago. Kudos to Jagmeet and Justin for pushing this forward. Long overdue.
—————

Says the dentist?

I already get dental care for 6.00/week via employer. I’m glad you’re willing to cough up more so I can save 300 per year. You think this plan will cover braces, crowns, and root canals? Seriously? That’s where the $$ are. My dentist already does a couple days per year for free cleanings and fillings for those without coverage. Many do. Why? Because extractions are cheap. Fillings are cheap. Cleanings are cheap. 2-3 hundred bucks.

Good grief buddy…

#132 crowdedelevatorfartz on 03.22.22 at 9:38 pm

@#92 Comerade

“Putin suddenly looks like an angel compared to these power hungry crooks.”

+++

I disagree.
Putin is a disgusting , murderous , pig that squandered his nations wealth.
Our leaders havent killed anyone.

#133 meslippery on 03.22.22 at 9:46 pm

Putin, Trump and Trudeau can we not find in the whole world better people to run things.

#134 Canada is done on 03.22.22 at 9:52 pm

DELETED

#135 When Will They Raise Rates? on 03.22.22 at 9:52 pm

Bernier is a racist, anti-science egomaniac unfit for public office. – Garth

I disagree, but I do understand that lefties feel that way. At the end of the day it’s irrelevant, because without the PPC supporters in the Conservative tent, we will never win another election.

#136 Michael in-north-york on 03.22.22 at 10:02 pm

#26 Dwilly on 03.22.22 at 3:48 pm

I voted Trudeau in 2015. Regret it now. Voted Conservative in 2019 and 2021, and the way things are today would vote Conservative again.
===

I voted the same way as you. Will probably vote for the Cons next time.

That doesn’t guarantee a sane budget though. The left tend to add social programs, the right tend to cut the taxes. All of them act “rationally” in view of their re-election prospects. The voters like to get more and/or to pay less.

Balancing the budget doesn’t feel like a benefit for anyone in the short term. The long term impact of the growing public debt doesn’t affect the MPs who want to get re-elected today.

The voters might have to learn a practical lesson on the connection between public deficits and inflation, before the voting pattern changes.

#137 Lorne on 03.22.22 at 10:07 pm

“Well, it’s 2022 now. So screw that little democratic tradition. Between now and 2025 the outcome of every vote will be known. Whatever the electorate thinks won’t matter a lot, as it won’t be measured. All decisions will be along party lines, now that we have a de facto coalition government.”
….
Isn’t this the way it always works with FPTP governments who, with 37% of the vote, make all the decisions along those party lines. At least here we now having over 50% of the population supporting the 2 parties. The thing I would really like to see is the NDP force Trudeau to actually abide by his statement of 2015, that that would be the last election decided by FPTP. Get the all party electoral reform committee together and come up with an election system that ensures a government that actually does represent all the voters.

#138 Lumber on 03.22.22 at 10:11 pm

At the end of the day, the entire population (that felt interested enough) voted: Liberals won a minority (ask yourself why that happened, where was the blue wave?) and then made a deal with the NDP. While conservative-leaning folk may not be happy, it seems the magic is in the deal-making. Try it sometime.

Far-right-freedom-wokes take note: Provinces, counties and municipalities control public health (mask mandates, shutdowns), real estate law and land-use bylaws. If you’re tired of masking, shutdowns and expensive housing, try barking up the right tree.

#139 Shawn on 03.22.22 at 10:18 pm

Yes Tax the Banks Extra

In 1996 the statutory income tax rate that Royal Bank of Canada reported was 43%:

From Note 12 of their Financial Statements on SEDAR.com

Income taxes in the Consolidated Statement of Income vary from the
amount that would be computed by applying the composite federal and
provincial statutory income tax rate of 42.9% (1995 – 42.7%; 1994 – 42.4%)

I don’t have any earlier financial statements but I believe the tax rate was closer to 48% in 1989

In any case for 2021 this statutory rate was 26%.

So, the income tax rate for Royal bank has declined by 40% (down 17 percentage points) since 1996.

Why did the Canadian corporate income tax rate drop so dramatically?

Well that was to keep Canada competitive. Otherwise our banks would have closed up shop I guess?

The lower tax rates were meant to be competitive for things like manufacturing that actually could move out of country.

Banks got a total free ride on this.

And there also was zero need to encourage investment in the Canadian banks. The only time they issue shares is to buy up American banks and such. (Like BMO tonight actually)

Yeah there is a TON of room to impose a surtax on the Canadian banks. Shed no tears. 3% is minor compared to their massive income tax reductions in the past 30 years.

#140 IHCTD9 on 03.22.22 at 10:24 pm

#138 Lumber on 03.22.22 at 10:11 pm
At the end of the day, the entire population (that felt interested enough) voted: Liberals won a minority (ask yourself why that happened, where was the blue wave?) and then made a deal with the NDP. While conservative-leaning folk may not be happy, it seems the magic is in the deal-making. Try it sometime.

Far-right-freedom-wokes take note: Provinces, counties and municipalities control public health (mask mandates, shutdowns), real estate law and land-use bylaws. If you’re tired of masking, shutdowns and expensive housing, try barking up the right tree.
——— ——

I’m a half million richer for doing squat since Trudeau took power.

Am I at the right tree homie?

#141 The real Kip (Ret) on 03.22.22 at 10:24 pm

#131 IHCTD9 on 03.22.22 at 9:37 pm
#43 The real Kip (Ret) on 03.22.22 at 4:19 pm
It’s about time this rich country finally will deal with universal pharma and dental care. It should’ve been done long ago….
—————

Says the dentist?

I already get dental care for 6.00/week via employer….
————–

Good for you. Knob.

#142 Doug in London on 03.22.22 at 10:32 pm

Dear Jean Chretien and Paul Martin;
Would either of you guys, or better yet both of you, be interested in taking on a temporary assignment in Ottawa? We could really use the sensibility of you guys right now.

#143 bdwy on 03.22.22 at 10:37 pm

I wonder if the melting icecaps will be an issue when the BC Govt cuts the ribbon on the new NDP tunnel under the Fraser River in below sea level Richmond in 8 years…..

///////////////
Roughly one thousand years for one foot of rise at current rates, the tunnel should be fine. maybe add sandbags in 700 years?

British Columbia Trends
The average sea level rose at a rate of 6.6 centimeters per century at Victoria, and 3.7 centimeters per century at Vancouver. In contrast, the average sea level fell at Tofino at the rate of 12.4 centimeters per century.Apr 1, 2021

/////

oil now 110. 150 target.

#144 Blair on 03.22.22 at 10:40 pm

It sounds like you were quite a conscientious MP, Garth. Still, I’m not entirely sure that the delegate form of representation is always the best. We would never have changed things like capital punishment, laws about reproductive medicine and sexuality, etc. (or at least not as soon as we did), if we had followed the views of the majority of the population. There is an argument to be made for trustee representation if we have wise representatives, although it is obvious that a lot of our them don’t have the intellect or judgement to made good decisions. That was especially apparent during the crisis in Ottawa. At the very least, good MPs shouldn’t be afraid to voice their own opinions. I like the UK Parliament where MPs can vote against their party, without losing the whip.

#145 Cici on 03.22.22 at 10:42 pm

“See a problem here? Anyone?”

Yes! Reckless, clueless “leaders” who have let policy and regulatory oversight run away from them are now pointing fingers trying to blame the resulting hot inflation on the only remaining wealth creators in this country.

It’s like they didn’t notice that many of these businesses took it on the chin due to the COVID crisis and are now trying to get back in the black. And that many of them have only managed to stay afloat by jacking prices to offset all this inflation, which is affecting them too.

I suspect that Singh’s bullying (and the coming punitive taxation) will convince more than a few of them to throw in the towel, further damaging GDP growth while reducing offer, thus limiting supply and further stoking inflation for the rest of us who are just trying to eat and drive to work.

So the question remains, who exactly is actually going to pay for all this largesse?

#146 AM in MN on 03.22.22 at 10:45 pm

When I first made the comment about “that ’70’s show”, I didn’t realize how close it was (this deal and the ’72 deal).

Markets drive interest rates, CBs only for a short time, like a steroid shot. Check out the US10Y and the CAN5yr today, benchmarks for mortgage rates. They only go up from here.

Most of the people I know who vote Lib/NDP (far too many) have no financial woes. Govt. pay & pension, house value way up, or at the bottom with a slew of benefits. For the wealthy, the only way they change their thinking is when they become less wealthy, which is going to happen to this class.

It is not an economic guessing game as to what happens next, although the timing has taken longer than I thought. Just look at history and the cycles so many other countries have gone through. Check out the decimation of formerly middle class majority countries like Argentina, Venezuela, South Africa, and see the parallels to where the LNDP is going.

Speaking of polls… saw one recently that about 1/3 of black South Africans would give up their right to vote in exchange for the relative peace and prosperity of the old days…

The difference for young and enterprising Canadians is technology. Canada allows you to move your residence and cut off from the CRA quite easily, yet still live much of your life, and own property, in Canada. Seek out the world and you’ll quit complaining, you just keep seeking the next opportunity, and there are many.

The pendulum will swing the now comfortable class feels less comfortable. It’s just a matter of time.

#147 IHCTD9 on 03.22.22 at 10:51 pm

#127 Observer on 03.22.22 at 9:26 pm
I think we should have pharmacare and dental but only for those who would struggle or be unable to pay for them on their own. In the end it costs us less if we help people to maintain their health than deal with the fall out later (example untreated diabetes).

With respect to universal child care (not part of the NDP/Liberal collaboration), why should Canadian taxpayers pay for child care for children of people who can afford to pay for it themselves? Seems to me government funded child care should also be means tested.
——— –

No offence bud, but dildos like you vote for this shit-show. I got tens of thousands worth in CCB even though we structured our lives around the need to finance having kids right from the get-go. I never needed a damn dime of it. No fellow Canuck should be forced to support our decision to have kids. The cut-off for CCB is sky high. I spent my CCB cheques at the local YAMAHA dealer. Trudeau is a dunce.

Now, you want me to get free daycare too? Tell me why folks like you vote for government subsidies for normal people having kids? CCB is based on net income – we beat ours to hell with RRSP deposits and raked it in. Free daycare means I’d be visiting the local GM dealer too. New truck hauling a new ATV with an F-Trudeau flag hanging off the back. Give your head a shake homie.

Canadians these days have the IQ of a fence post. I’m trying hard to get angry about it, but I have a weakness for free cash.

#148 crowdedelevatorfartz on 03.22.22 at 10:54 pm

@#134 Canada is Done
Deleted

++++

Another confidence inspiring, heart warming, bridge trolling, Ponzie pseudonym i presume…?

#149 crowdedelevatorfartz on 03.22.22 at 10:57 pm

@#139 The real kip
“Good for you. Knob.”

+++
Thou doth protest too much….
The Big Book of British teef hath spoken….

https://www.youtube.com/watch?v=PrpUSKE9p_M

#150 Observer on 03.22.22 at 11:12 pm

No offence bud, but dildos like you vote for this shit-show. I got tens of thousands worth in CCB even though we structured our lives around the need to finance having kids right from the get-go. I never needed a damn dime of it. No fellow Canuck should be forced to support our decision to have kids. The cut-off for CCB is sky high. I spent my CCB cheques at the local YAMAHA dealer. Trudeau is a dunce.

^^^^^^^^^^^
This “dildo” (as you refered to me) is not a fan of how the CCB is structured. Too many families (such as yourself) who don’t really need it, got it.

We need social programs, but they must be based on need, imo. Liberals screw up by being overly generous.

CERB is another example of poorly planned benefit. 15 year old kids living with mom and dad (particularly where mom and dad are making decent coin) should not have qualified.

OAS, in my opinion should have a lower cut-off point (maybe applied to combined parter income rather than to individuals).

Same with any pharmacare, dental care, or childcare benefits. Costs will be much less if we focus on who really needs them.

#151 IHCTD9 on 03.22.22 at 11:19 pm

#135 When Will They Raise Rates? on 03.22.22 at 9:52 pm
Bernier is a racist, anti-science egomaniac unfit for public office. – Garth

I disagree, but I do understand that lefties feel that way. At the end of the day it’s irrelevant, because without the PPC supporters in the Conservative tent, we will never win another election.
————

Probably true. But on the flip side, if you own a house, are debt free, and have a decent nest-egg on the go, it’s all good news wrt lefty goofballs in power.

This is the new math. The folks who vote coddled elite white jocks like Trudeau into office straight don’t understand how things have been actually panning out. I sure do, but I keep it to myself IRL ya know?

I really want leadership that works for the prosperity of all future Canadians. But, if that ain’t on the agenda, I’ll take the cash and let the kids deal with the fallout. It won’t be long before my stake in this game ends.

Hey, I do what I can. Epictetus advises us not to beat our heads against the wall over things we have no control over, so I don’t. Plus, I like money, I’ll admit it. Never seen so much of it since Trudeau was elected. Yeah, today’s kids and new Canadians will slave to fund my entitlements, but that was largely their choice not mine. I’d be just fine without all the handouts. No head beatings for me, a new salmon boat will suffice.

#152 salonist on 03.22.22 at 11:23 pm

and in oakville, the second highest rates in canada and the highest in ontario at $2500.00/ month
don’t know if this is true, but they say it is difficult to get a shelter bed due to immigrants not having work
immigrant families living in motels/hotels, hosted by social services
with a welcome to “canada by the immigration officer”
the journey begins

#153 M. Towne on 03.22.22 at 11:32 pm

Respectfully, no, Canadians did not vote to hold the Liberals to a minority government. That’s a projection of the views of the poster.

“Elect Liberal Minority” was not on the ballot. “I’m not sure, ask me again in about eighteen months” was not on the ballot. People voted according to which party and candidate in their riding they wanted elected. Often this was indirectly a reflection of who they wanted to be PM. Sometimes, not always, there was a conscious choice that by voting NDP, they might be positioning the NDP to hold the balance of power in a minority parliament and thereby be able to push the Liberals to enact some of their priorities. (Hardly without precedent, as anyone who’s used Medicare should appreciate, and indeed is pretty close to what’s now going to happen.)

And they did so in the face of uncertainty about whether their voting choice would result in a Liberal majority, Liberal minority or Conservative minority government.

With 32.6% voting for the Liberal candidate and 17.8% voting for the NDP, just over 50% voted for one of those two parties and presumably would have been fine with their chosen party forming a government.

There is much wailing and gnashing of teeth in Conservative circles about all this, but most of this is bitterness that they’ll have to wait until 2025 for another chance to exploit the structural vote-splitting that seems to be the only hope for Conservative governments to get elected. Perhaps if they concentrated more on a platform that appeals to a broader swath of the electorate, they wouldn’t be in this mess.

I, myself, am just relieved to have an extra couple of years without the increasingly deranged Conservative party, which bears no resemblance to the parties of Diefenbaker and Clark and Mulroney, having a crack at power. I was never a Conservative voter but those guys didn’t give me nightmares.

There are legitimate questions and concerns about how much more we can afford to go into debt and the consequences of pursuing the agenda that Trudeau and Singh have agreed on. But it is just not reasonable to call it a loss of democracy. Enough people voted for Liberals and NDP to make this happen. That’s how it works.

#154 IHCTD9 on 03.22.22 at 11:39 pm

#141 The real Kip (Ret) on 03.22.22 at 10:24 pm
#131 IHCTD9 on 03.22.22 at 9:37 pm
#43 The real Kip (Ret) on 03.22.22 at 4:19 pm
It’s about time this rich country finally will deal with universal pharma and dental care. It should’ve been done long ago….
—————

Says the dentist?

I already get dental care for 6.00/week via employer….
————–

Good for you. Knob.

————

Yes, it is good. Your taxes will go up 12.00/ week so I can save 6 bucks :) Plus my dentist will end up driving an S class instead of a C class. That’s about as progressive as it gets!

#155 Observer on 03.23.22 at 12:30 am

I think the Occupiers brought this on, and have ensured that there will be no RepuliCON federal government for at least three years.

Honk! Honk!

#156 TurnerNation on 03.23.22 at 12:37 am

The Sheeplekind are learning a tough lesson.
Once you submit and allow unlimited power, as you did in March 2020 onward, it NEVER goes away. Not in 2025 (false hope) not EVER.
Check your history books.

— I’ve always noted that , the children are the real target of this anti-human New System. Not us.

https://www.aier.org/article/the-kids-arent-alright/
” Claims for intentional self-harm as a percentage of all medical claims in the 13-18 age group were 90.7 percent higher early in the pandemic in 2020 than in the same time period in 2019. Furthermore, the authors noted, claims for generalized anxiety disorder increased by 93.6 percent over that same
time. ”


— As noted for a while now, the most united (formerly) and homogenous culture was given the harshest punishments. QC.
When you get fined for simply living a normal life and doing things people do, it’s game over. There is NO going back.

https://www.observatoiredesprofilages.ca/wp-content/uploads/2022/03/Une-approche-punitive-alarmante-face-a-la-pandemie-de-COVID-19-analyse-des-donnees-policieres.pdf
“Une approche punitive alarmante face à la pandémie de COVID-19 :
analyse des données policières”

#157 Observer on 03.23.22 at 12:53 am

Freedom fighters helping to strengthen the Singh and Trudeau alliance kind of reminds me of how Putin is helping to strenghen NATO.

#158 T-Rev on 03.23.22 at 1:26 am

Not that I like it, not that I won’t resist what’s happening, but it’s all a predictable part of the national lifecycle. Read an excellent bit of history lately called “The Lessons of History” by Will and Ariel Durant. The book is a short and digestible summary of the patterns and trends they saw emerge from their 11 tombe, 11,000 page masterpiece, “The History of Civilization”. Nations, empires, and economic systems do not last forever. They never have. One of the more salient chapters deals with wealth inequality, and how that when the disparity grows too great, governments are forced to intervene and redistribute wealth in order to prevent rebellion and bloodshed. Wait too long, and revolution occurs without fail. Personally, I don’t see much equivalency between starving peasants in Ancient Rome or medieval France and the well fed, technologically advantaged, safety netted, public healthcare endowed, lower income folks of vulnerable populations today, but it’s the inequality that matters, not the absolute health and food security of the various classes in society. People can’t stand to see others get ahead and so will always assume it was by unfair or nefarious means and demand a levelling of the field. That’s what we’re seeing now. For those of us who have worked hard to get ahead, the hard lesson that history teaches is that there is no god-given right to keep this wealth. Our systems fluctuate, and in some generations and centuries the bourgeoisie or equivalent are allowed to prosper largely unfettered, and in other ages wealth is redistributed by force or by law. The pendulum swings. So far this democracy thing is doing a pretty good job of keeping us from spilling each other’s blood in the process. Another lesson from the Durants is that nearly every civilization ends in either through military conquest or through hyperinflation and debt default, followed swiftly by balkanization and military conquest. Over a long time scale, the cycle merely repeats. Zero exceptions in history. I’d like to think we’ve got a shot at beating those odds, but we have to realize that democracy is merely a system to blunt the amplitude and the misery of those swings, but won’t prevent them altogether.

Govern yourself and prioritize your life accordingly.

PS took the FXDWG for its first spin of the year, not sure the neighbors appreciated my early season throttle enthusiasm. Ride on brothers and sisters.

#159 Dr V on 03.23.22 at 2:19 am

139 Shawn

“Yes Tax the Banks Extra”
———————————-

How about this instead? Have all bank shareholders
(that’s you and me), as owners of these businesses, be paid a wage in proportion to our percentage of ownership, and we’ll perform some task, once a year, like bringing doughnuts for the staff. Maybe wash a window.

This would be not much different than many businesses are run, right?

Then they could T4 us for our percentage of bank
profits, less what is left in the corporation. As this is a wage, it would be taxed at our marginal rate.

Any takers?

#160 Joe Lalonde on 03.23.22 at 6:05 am

I never imagined to see such an absolute disconnect from our mainstream media’s and politicians corrupted ways to the freight train of reality that will be happening. Cheap monetary policies that have inflated Canada’s economy to the reality that real goods are needed and our politicians have no clue on what products are created from or how they’re made. Many companies no longer exist as the supplies are imported.

This house off cards will collapse spectacularly very shortly as infrastructure breaks and are not available.

#161 Victor Maitland on 03.23.22 at 7:31 am

@#30 Jim, the net proceeds from the sale of GM shares in 2015 were $3.26 billion. Not $25 billion.

https://www.ctvnews.ca/business/canada-s-sale-of-gm-stock-made-3-26b-u-s-regulator-document-1.2318845

The next time you “feel the need to be pragmatic and call out BS when it is being peddled”, do take care that you’re not peddling an even bigger pile of your own.

Also in the interests of being pragmatic, the sale represented a loss of approximately $800 million on the original purchase of the shares, not the “billions” quoted by many media outlets and repeated all over the internet in the years after.

https://www.thestar.com/business/2015/04/10/ottawa-gets-32-billion-for-gm-shares.html

Those “billions in losses” were based on the subsequent price of GM shares, which had not yet materialized when the sale was made, and could not be anticipated in 2015.

#162 Concerned Citizen on 03.23.22 at 7:47 am

As housing costs have literally doubled under the 6 years of Trudeau, at least we can take comfort in knowing the increasing number of homeless will have better teeth.

Trudeau and his government are masters at ignoring the elephants in the room, instead focusing on fake empathy and virtue signaling.

Has it occurred to Trudeau that perhaps we wouldn’t need such lavish social programs ($10/day daycare, now dental care, etc.) if the bare necessities of life – such as a roof over your head – are so egregiously expensive. Nope, in Trudeau’s mind, everyone is a winner. We can’t hurt “Mom and Pop” real estate investors, because then they would be losers. And everyone needs to be a winner.

I am hastening to move my portfolio out of CAD. It’s telling that with commodities through the roof, CAD is at only 80 cents on the USD. If/when this commodity boom ends, I can see CAD going to 65 cents again – or maybe even worse. It’s what happens when economically illiterate people are in charge.

#163 McSteve on 03.23.22 at 7:52 am

Mr. Turner:

The Progressive Conservatives you reflect on have been dead for almost a generation. It has been replaced by the Republican Lite Party of Canada. As long as populism is in vogue, we will be deprived of a centrist party this country truly needs. You could barely slip a hockey card between the policies of Mulroney / Chretien. The current gulf is as wide as Hudson’s Bay. Dumb and Dumber (take your pick who is who on any given day). Watching a Tory MP giving an unhinged rant from her bathtub on TicTok…

#164 Bond Massacre? on 03.23.22 at 8:42 am

It’s sure is starting to feel like 1994.

#165 IHCTD9 on 03.23.22 at 8:42 am

#150 Observer on 03.22.22 at 11:12 pm
No offence bud, but dildos like you vote for this shit-show. I got tens of thousands worth in CCB even though we structured our lives around the need to finance having kids right from the get-go. I never needed a damn dime of it. No fellow Canuck should be forced to support our decision to have kids. The cut-off for CCB is sky high. I spent my CCB cheques at the local YAMAHA dealer. Trudeau is a dunce.

^^^^^^^^^^^
This “dildo” (as you refered to me) is not a fan of how the CCB is structured. Too many families (such as yourself) who don’t really need it, got it.

We need social programs, but they must be based on need, imo. Liberals screw up by being overly generous.

CERB is another example of poorly planned benefit. 15 year old kids living with mom and dad (particularly where mom and dad are making decent coin) should not have qualified.

OAS, in my opinion should have a lower cut-off point (maybe applied to combined parter income rather than to individuals).

Same with any pharmacare, dental care, or childcare benefits. Costs will be much less if we focus on who really needs them.
___

Yes we agree. The problem is, of the major parties the only ones who would ever promise to cut back on social programs are the Cons. And you would not vote for the Cons ever. If all your wishes as stated above could come true, and all you had to do to make it happen is vote blue – you wouldn’t.

The point was Trudeau (whom you praise) is *individually* responsible for the circus tent we all now live in. He has well demonstrated that everything he touches turns into a black hole for money and does the opposite of what he intended. It’s not because he’s a Liberal, it’s because he’s Trudeau.

#166 Mark Rypen on 03.23.22 at 9:04 am

Canada is cooked. And it’s incredibly sad.

I’m a first generation immigrant who loves our country. But I no longer recognize it. Between the insane woke policies, the profligate spending and indebtedness, and the lack of any desire to seriously address real problems, we’re cooked.

Meanwhile, even the blog dogs here call the conservative party “deranged”. What exactly is deranged about wanting to prevent the bankruptcy of the country? What exactly is deranged about having legitimate questions about COVID policies that were far more restrictive than many European nations? What exactly is deranged about lower taxes, less government intrusion, and a government that isn’t rife with corruption and hypocrisy.

Depressing times. People keep voting for free $hit, not realizing none of it is free, and even with inflation clobbering them, they want more of it.

Perhaps high schools can throttle down CRT and amplify basic financial literacy.

#167 Baxter on 03.23.22 at 9:20 am

When I first came to Canada I was puzzled as to why the dental care was so much better quality than other forms of healthcare. Then I realized it was because it was privatised. Dental healthcare in England is terrible for the same reason. Be careful what you wish for Canada!

#168 crowdedelevatorfartz on 03.23.22 at 9:28 am

@#162 Concerned citizen
“Has it occurred to Trudeau that perhaps we wouldn’t need such lavish social programs ($10/day daycare, now dental care, etc.) if the bare necessities of life – such as a roof over your head – are so egregiously expensive. ”
+++
Yep.
Inflation ( excluding real estate OR renting) is heading skyway faster than a Musk Moon Mission.
I bought 4 apples yesterday…. $8.30 …
Honey crisp never tasted soooooo expensive.

Trudeau won’t be able to stop what’s coming….he’ll enable it.

#169 Ballingsford on 03.23.22 at 9:35 am

What does $43 billion look like that is only paying interest?

1 billion used to build a big hospital. Maybe 1.5 billion now.

1/2 a billion (500 million) built the fixed link between PEI and NB in the 90’s.

#170 SunShowers on 03.23.22 at 9:45 am

#97 Observer on 03.22.22 at 6:40 pm
“I see what you did there!”

Glad you did!
I found Garth’s invocation of Dr. Faustus here to be a little off base, as the Dr’s deal with the devil was brought on by his hubris and sheer boredom.

Singh and the NDP, on the other hand, have made promises to the electorate they represent to try to get certain policies implemented, and were elected on this basis.

Does their electorate particularly care whether those policies are served up by an NDP government, or a Liberal government whose arm is being twisted by the NDP? I don’t see why they should.

In fact, I think that the NDP insisting on some kind of ideological purity where only THEY should be permitted to bring forth this legislation as an NDP government would be an example of true Faustian hubris, and gross political malpractice, as an NDP government is (for now) extremely unlikely.

The NDP had leverage, and they used it to their advantage and the advantage of their constituents, in order to secure the policies they campaigned on and keep their promises. Big win for them.

I don’t really see how it’s undemocratic. Millions of people voted for the NDP, and this is a rare opportunity for their votes to mean something, instead of being relegated to the sidelines forever by Duverger’s Law. That’s what’s undemocratic.

#171 unbalanced on 03.23.22 at 9:48 am

TD9—Why so aggressive. Calling someone dildo and homie. Just grow up and get off your high horse. Maybe read the rules of this blog.

There are rules? – Garth

#172 crowdedelevatorfartz on 03.23.22 at 10:05 am

Speaking of Trudeau.

Another cringe worthy photo op for our PM that will leave millions of Europeans wondering how Canadians chose this dilettante as our representative?

https://vancouver.citynews.ca/2022/03/23/trudeau-europe-nato-summit-ukraine/

#173 jess on 03.23.22 at 10:10 am

the REAL devil drops bombs and killing people

https://www.occrp.org/en/asset-tracker/
Explore the global assets of Russia’s oligarchs and enablers
Russian Asset Tracker

https://cdn.occrp.org/projects/russian-asset-tracker/en/?_gl=1%2anduoy6%2a_ga%2aNjQxNzA0MTQzLjE2NDgwNDI5NDQ.%2a_ga_NHCZV5EYYY%2aMTY0ODA0Mjk0My4xLjEuMTY0ODA0MzE0Ni42MA..

#174 SunShowers on 03.23.22 at 10:19 am

#150 Observer on 03.22.22 at 11:12 pm
Means testing almost always creates more costs in bureaucracy that it saves from rationing benefits.

It’s better in nearly all cases to make benefits universal, and then just tax it back from the folks like IHCTD9 who didn’t really need it at the end of the year.

#175 jess on 03.23.22 at 10:21 am

pharma plan :wholesale instead of retail
dental plan: youth of today worthy investment

#176 Quintilian on 03.23.22 at 10:27 am

When the thin veneer of pretentiousness is stripped away, we see the ugliness of the lesser ape.

So finally, some underprivileged children can get some basic dental work done, the belligerent, self-proclaimed adroit stock pickers, with oodles of money squeal like pigs at the abattoir.

#177 Sail Away on 03.23.22 at 10:40 am

Having always owned dogs, the SAs have a number of procedures well understood by all parties. The dogs don’t necessarily enjoy them, but these things must be done, so a process keeps it simple. One is nail clipping: every day after dinner, each dog gets one paw clipped before their rawhide chew- always the same paw on all dogs in the same rolling sequence: front left, front right, back left, back right. Maybe 10 seconds per paw.

Routines are excellent ways to establish control.

#178 Dharma Bum on 03.23.22 at 10:41 am

#104 IHCTD9

I got no worries, because when I started out, Canada had smart politicians, and sound fiscal/monetary policy. I’ve never voted for Trudeau.. err, Jagstin Trusingh, so my conscience is clear. Youth and newcomers will feed my retirement while working 2 jobs.
——————————————————————————————————–

Hey, it’s a great time to be old!

And it’s all the sweeter, knowing that SJWs like Quintillian and his ilk will assist in funding our cushy retirements for years and years to come.

Those taxes will just keep piling on.

Socialism is great, if it’s timed right.

#179 SunShowers on 03.23.22 at 10:46 am

#173 jess on 03.23.22 at 10:10 am
https://www.occrp.org/en/asset-tracker/

“Though average Russians have seen their incomes stagnate in recent years, the country’s wealthiest fly around the world in executive jets, lounge in Mediterranean mansions, and cruise the seas in some of the world’s biggest yachts. Their children cavort in exclusive nightclubs and receive prestigious educations at the world’s top universities.”

How is this any different from oligarchs in any other nation? Notably America?

#180 Neil Young: Self-cancelled for "Southern Man" on 03.23.22 at 10:48 am

The Babblin’ Beep reports that Neil Young allegedly listened to the lyrics of his song “Southern Man” and was horrified by what he heard.

Mr. Young then contacted Sportify and threatened to remove all of his songs from Sportify unless Sportify immediately removed all of his songs.

#181 Shawn on 03.23.22 at 10:53 am

About wanting a Minority government

#153 M. Towne on 03.22.22 at 11:32 pm

Respectfully, no, Canadians did not vote to hold the Liberals to a minority government. That’s a projection of the views of the poster.

“Elect Liberal Minority” was not on the ballot. “I’m not sure, ask me again in about eighteen months” was not on the ballot.

*******************************
Well said. My thoughts exactly.

There was no giant meeting of Canadians that said okay guys some of you ridings elect liberals but not so many that they get a majority.

The overall result is just what happens.

After the election the press always pretends that there was a sort of giant collective consensus that led to the outcome. Not true.

Of course it is true. Majority sentiment was not for majority government. How hard is that to understand? – Garth

#182 OK, Doomer on 03.23.22 at 10:58 am

Just viewed and excellent video on Rumble. Quick summary is that it digs into the paradox of why incompetent people with minimal knowledge feel totally confident in their opinions while real experts are much less so.

https://rumble.com/vx3ds9-what-is-the-dunning-kruger-effect-why-incompetents-think-theyre-awesome-ten.html

This explains a lot; everything from the narrative surrounding Global Warming to the Trudeau-Singh Mind Meld to the steerage section of this well meaning blog.

#183 OK, Doomer on 03.23.22 at 11:08 am

And this one is even better:

https://duckduckgo.com/?q=dunning+kruger+effect&atb=v314-6&iar=videos&iax=videos&ia=videos&iai=https%3A%2F%2Fwww.youtube.com%2Fwatch%3Fv%3Dy50i1bI2uN4

#184 Linda on 03.23.22 at 12:01 pm

The CCB is the human equivalent of an agricultural subsidy. Tax dollars are spent to encourage people to have children; the CCB is the price of raising those future tax cows to milking age. Of course, not all will prove to be productive…..

#110 – your comment about the children crying made me think of that saying ‘What you don’t know won’t hurt you’. Not true. This debt mountain is going to hurt a lot.

‘IHCTD9’ – the concern I have as a debt free, asset holding individual is that in the eyes of those whose finances are not as rosy our debt free state means we are ‘rich’. Given the comments I’ve read on this blog, those who don’t ‘have’ will be more than willing to take from those who do. So if the have nots are the majority, don’t think you & your assets won’t be in the crosshairs.

#185 Djumbe on 03.23.22 at 12:15 pm

A clear majority of Canadians who participated in our recent election voted for progressive government. A strong opposition is important, but the current conservatives are too far right for most. A confidence and supply agreement is entirely constitutional. We are seeing democracy in action.

#186 James on 03.23.22 at 12:22 pm

At this point it’s worth recalling where we are as a nation.

In 2015, after Trudeau walloped Harper, we didn’t have a deficit. The books were balanced – revenues met expenditures. Just like in your family. That didn’t last long. In 2018 the deficit was $18 billion. The next year it was $40 billion. After the pandemic hit, the shortfall came to $314 billion. Now Covid’s over, and it’s $144.5 billion.
___________________________________________
And why did our uninformed huddled masses elect such an incompetent leader? Still trying to figure that one out Garth, your figure don’t lie! People here are gullible.

Stephan Harper did what every real politician should do and that is the make the government work properly and efficiently for what it takes in with revenue. This bozo thinks he is a de-facto King and can just magically print money.

#187 James on 03.23.22 at 12:29 pm

#172 crowdedelevatorfartz on 03.23.22 at 10:05 am

Speaking of Trudeau.

Another cringe worthy photo op for our PM that will leave millions of Europeans wondering how Canadians chose this dilettante as our representative?

https://vancouver.citynews.ca/2022/03/23/trudeau-europe-nato-summit-ukraine/
__________________________________________
Should send him to the front lines and see how much of a man he is when the bullets fly. If you think he has a speak impediment now wait until he tries to explain to the Russians how “People Kind” works.

#188 Stephladimir Harputin on 03.23.22 at 12:37 pm

I can read between the lines here, Turner.

Clearly, this is a tribute to me and my governance, and a thinly veiled apology from you.

Too late, I’m afraid. But I accept it nonetheless.

#189 Michael in-north-york on 03.23.22 at 1:10 pm

#179 SunShowers on 03.23.22 at 10:46 am

#173 jess on 03.23.22 at 10:10 am
https://www.occrp.org/en/asset-tracker/

“Though average Russians have seen their incomes stagnate in recent years, the country’s wealthiest fly around the world in executive jets, lounge in Mediterranean mansions, and cruise the seas in some of the world’s biggest yachts. Their children cavort in exclusive nightclubs and receive prestigious educations at the world’s top universities.”

How is this any different from oligarchs in any other nation? Notably America?
===

Quite different. In North America, individuals can build their own lives even if they start with nothing. Not everyone uses the opportunities, but many people do.

In Putin’s Russia, not a chance. You are stuck at the level of subsistence, unless you belong to the tight circle of cronies.

#190 Kitkat0123 on 03.23.22 at 1:42 pm

Oh stop your whining Garth. My NDP vote finally comes to fruition and the Canadian people will be beneficiaries.
Before now, all politicians worried about how to defeat the other guy.

This is a historic day for Canadians.

#191 BD on 03.24.22 at 10:55 am

Dear sir,

Always love reading your posts. It’s the kind of stuff I’d even sign up and pay for. Well done. Your missive this week starts off very well with a recollection of being in the House as an MP (i love reading about your recollections BTW). But then you go sadly sideways suggesting the election has been overturned. Lest we all remember, we elect MPs, they in turn pick the PM. That’s how our system works. The results of the last election remain the same: same number of MPs as the morning after the election. So it’s not an “overturning” but simply MPs doing what they are supposed to do: pick a PM.

In Canada MPs do not pick the prime minister. – Garth

#192 Goody Niosi on 03.24.22 at 4:25 pm

I am thrilled by the confidence and supply agreement – which is NOT a coalition, not even de facto. As an ordinary Canadian, I think dental care is essential and should always have been part of health care. With a greater emphasis on health, affordability, and the environment, we are taking a few steps in the right direction. Hurrah!