BIG government

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RYAN   By Guest Blogger Ryan Lewenza
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Last weekend I went home to visit my parents and see my Nana who recently had a health scare (she’s recovering and doing well). As is typical in my home, my mother made a big feast and we drank wine and talked politics.

My mother, bless her heart, is a big ‘leftie’ and believes our current Prime Minister walks on water. During our animated discussion she asked me my why JT is so disliked. She referenced the F-Trudeau bumper stickers and flags that are popular these days. This confounded her so I shared some possible reasons why many Canadians (56% currently according to Angus Reid polling) disapprove of Justin and his agenda.

While I don’t hold any animus towards Mr. Trudeau, I definitely have my qualms with his leadership and feel he is leading our country in the wrong direction. Central to this view, in my opinion, is his shifting of the federal Liberal Party far to the left, his very expensive policies and disregard for the deficits/debt he’s accumulating, and his overall belief in ‘big government’.

In the discussion with my mother she asked, “Don’t you believe offering dental care to kids who can’t afford it is a good thing?” “Of course it is,” I replied. I strongly support our social programs and a safety net for the poor, elderly and those in need. But you have to look at the whole picture and understand just how much money he is spending on these myriad programs.

As I was starting to research this post I thought about how I could easily tabulate all the new social programs and spending he has announced. I started doing some googling and quickly realized it would take hours, if not days to go through all the separate news releases and announcements. I then came across Tudeau’s official government website, which includes a chronology of all his press releases and realized I hit pay dirt.

Like every politician, he loves to highlight all the things he is doing for his constituents. So I went through every press release over the last year and isolated those specifically announcing new programs and spending initiatives. Below is the output from that analysis.

In the table I include the dollar amount, date of the announcement and the policy or cause behind each new spending initiative announced this year. The results are staggering. $2 billion each to build 17,000 new homes and help safeguard our coastal regions. $145 million support to Latin American and the Caribbean. $271 million for public transit in Mississauga. And $732 million for some Covid-19 ‘Tools Accelerator (ACT-A)’ (whatever that is?), just to name a few.

This is the point I was making to my mother. It’s not just free dental for underprivileged kids. It’s money for everyone and everything. He’s doling out OUR money like its candy on Halloween night.

A government cannot be all things to all people. We have to determine and prioritize what the most critical programs that are needed and focus on those.

Trudeau’s New Programs and Spending Year-to-Date

Source: PMO. Period: Jan. 1, 2022 – Oct 6, 2022. Click to enlarge.

Now that’s just this year. When looking over his entire tenure as PM it’s the same story. Sure, the global pandemic caused a massive hit to our economy and required the government to step in with support, but: 1) he ramped up spending and massive deficits from his first day in office; and 2) the amount of government support during the pandemic was unprecedented and was larger (as a percentage of the economy or per capita) than most other developed countries.

When you sum it all up, it’s hundreds of billions of dollars of deficits and a doubling of our federal debt over his term in office. One day that debt will have to be repaid.

Here’s the facts. Mr. Trudeau took over for Harper as our PM in November 2015 just as our yearly budget was about to be balanced (-$550 million which is a rounding error versus today’s deficits). The spending began. From 2016 until the 2020 pandemic our deficits amounted to $94 billion. In the 2020-21 fiscal year it rocketed to $327 billion as a result of the economic hit from the pandemic and all the support programs (e.g. $2,000/month in CERB) that were announced. For this fiscal year we’re still looking at another $114 billion in deficit. And deficits are projected for years to come based on current spending policies.

When you add up all the red ink under JT’s leadership it results in a doubling of our federal debt, which now sits at over $1.1 trillion dollars. Gulp?!

Federal Government Debt History

Source: Trading Economics, Department of Finance Canada

All this increased government spending means more bureaucracy, higher future pension obligations and overall a bigger government. One way this is evident is in the employment growth in the federal public sector.

According to a recent Globe and Mail article, “the multiyear hiring spree that has swollen the ranks of civil servants by nearly a third since the federal Liberals came to power in 2015.”

As seen below the number of Canadians working for the federal government has surged from 195k in 2015 to 254k currently. With all the increased spending and programs, 53 of the 58 federal departments have seen a rise in their employee count. Think all those salaries, costs, increased pension obligations and more bureaucracy this has created.

As an example of this bureaucracy and wasted spending, today I read that the federal government spent $54 million dollars to a small outside tech firm to build the ArriveCan app. According to the article, “most apps are built for less than $1-millon”. This is the new world we live in as a result of Trudeau’s spending habits.

Core Federal Public Service Employment

Source: The Globe and Mail, Government of Canada

Our (Turner Investments) entire ethos is based on the concept of balance. Balanced in life. Balanced in real estate. Balanced in portfolios. And balanced in federal budgets. There’s a limit to how much debt you can rack up and if we remain on this path we’ll find out what that limit is.

The net conclusion is either taxes have to go up a lot in the future to pay this debt back (along with interest payments) or there will be deep austerity cuts. I don’t see this in the near term, but it’s coming.

Now that I shared this very uplifting blog, go and enjoy your turkey and long weekend. Happy Thanksgiving from Turner Investments!

Ryan Lewenza, CFA, CMT is a Partner and Portfolio Manager with Turner Investments, and a Senior Investment Advisor, Private Client Group, of Raymond James Ltd.

 

159 comments ↓

#1 Ian on 10.08.22 at 10:03 am

Today’s spending is tomorrows taxes.

#2 young & foolish on 10.08.22 at 10:19 am

Yeah, and it looks like it’s about to get worse as we head into a nasty recession.

Everything down …. stocks, bonds, real estate …. all getting repriced. It now looks like it was all about the rates after all.

#3 chalkie on 10.08.22 at 10:27 am

Thanks for the reminders Ryan, sometimes the truth hurts, but the truth is truth, I pity our Grandkids and their Grandkids for the percentage of taxes they will have to fork ovdr to the Feds.

#4 Grumpy Panda on 10.08.22 at 10:38 am

Ryan, maybe this will help your Mom understand. Those that suffer from mental illness deserve our sympathy and appropriate medial care. This does not mean we must continue to elect them as PM where they act as a teenager and treat the country as a credit card their parents will pay off.

#5 Grumpy Panda on 10.08.22 at 10:41 am

Typo: medical not medial

#6 Udar on 10.08.22 at 10:42 am

Happy Thanksgiving to you, and to everyone on Turner Investment too! Fantastic blog with lots of meat !

#7 Billy on 10.08.22 at 10:42 am

One other result = more MMT/money printing, fueling ever more inflation.

#8 Doug in London on 10.08.22 at 10:51 am

While I never hated Trudeau Junior myself, I do see your point and quite agree. It’s all going to catch up with us one day. The only suggestion I have is to make maximum use of tax shelters available. Also, one day there will be more user fees, so save all you can. So, why is Trudeau still the prime minister? In the last election the Conservatives should have got in and given this Liberal government the boot. They didn’t because they can’t get their act together. For example believe it or not, most Canadians see the rationale behind such regulations like vaccine and mask mandates.

#9 tecumseh guy on 10.08.22 at 10:54 am

Great post Ryan. Nice to see you spend time with your family. Please tell a certain lewenza that lives behind me to stop fighting with his wife. At least close the windows. It disturbs the entire neighborhood. Have a great weekend

#10 crowdedelevatorfartz on 10.08.22 at 10:54 am

Ryan!
Wading into the political arena!
Get ready!
:)

I agree that the Liberal deficit spending has, and will, be ruinous for future Canadians.
Perhaps the GenX retirees will have their kids blaming all the country’s economic ills on THEM. karma…

An example of the “free cash shower” of the Liberals.

Over a year ago during Covid I received an e-mail from the union that supports the workers in our company.

It was a Federal Govt survey on hiring, training processes, wages, hours worked, etc.
I (foolishly) assumed it was going to be a Stats Can type survey to help the govt in setting up apprenticeship training programs, financial support for apprentices, etc.

So I eagerly logged on.
( I must note that our union represents workers that do dirty, physical labour that happens mostly in industrial (factory) type settings.
So, the first page opened and the immediate subheadings were for Women, Indigenous, LGBTQ2, etc etc etc.
WTF?
I thought it was a survey not a political diatribe.
ALL the questions were : how many women? How many Indigenous? How many LGBTQ2 ? etc etc etc.
When I naively filled in the Indigenous subheading ( we have several guys who are indigenous) I was cascaded into an entirely new level of Dante’s inferno.
The 8th level of bureaucratic Hell.
“Please estimate the mount of hours EACH indigenous worker spends on the job.
Please include female indigenous. estimated work hours,
Please include LGBTQ2 indigenous work hours.”
On and on and on.

After about 20 minutes of the politically correct survey…..with no end in sight…..I opted out.

I cancelled the survey and quit the entire self congratulatory exercise in Liberal brownie points.

For the next MONTH I received daily demands, requests, then pleads to… “Please fill out the form”..
You see.
If enough people filled out the form….the union received a federal govt grant for…..
$35 million dollars.
Yes
$35 MILLION dollars.

For every Female, Indigenous, LGBTQ2, Self Identifying(?) and “other” we hired.
( current indigenous employees don’t count. I wonder if I can fire them and immediately rehire them?)
The union gets $10,000 and the company gets $10,000.
And if you do hire someone of the above identified group…you are once again dumped into Dante’s 9th level of Bureaucratic Hell….
As a recession, and potential layoffs…. loom…..

#11 T on 10.08.22 at 10:55 am

How would a conservative government perform in the same time frame?

Look at how conservative leaders in our country performed. Anti-science, lockdowns, inadequate funding of health care through a pandemic, pandering to ‘freedom fighters’.

Not a fan of Trudeau, the spending under his tenure, and the move of liberals further left, however conservative leaders aren’t the answer. Conservatives have gone too far right.

#12 Father's Daughter on 10.08.22 at 10:56 am

Every time he opens his mouth, it’s to announce more and more spending. No end to the spending. I don’t know anyone whose life is getting better despite all the cash flow. Our health care system is circling the drain, schools aren’t great, I can’t get a passport, the list goes on.
I somewhat blame the conservatives though, for continuing to vote in unelectable leaders #mgtow

#13 Ponzius Pilatus on 10.08.22 at 10:56 am

Here come the Thatcher and Reagan quotes.
FURZ is in Heaven.
I call it “lesse farts”

#14 Debtslavecreator on 10.08.22 at 10:57 am

Similar to me. In laws and own family all or mostly hardcore liberal and JT fans. Some seem to be awakened now but JT and many of his ministers are deliberately bankrupting our country. They are members of the globalist cult as are most top central bankers. They destroyed the middle class on purpose with radical policy that resulted in credit inflation that has taken our incomes and enriched the FIRE elite. Now that we’ve started seeing widespread wage inflation the plan is to deliberately collapse a bankrupt system and try to implement their long planned global dictatorship. It’s treason and fraud of the highest order. Humanity will prevail long term but we’re in a huge ugly mess likely into the mid-late 30s. What has happened to my country ? JT and Jagmeet and numerous others need to be investigated and charged.

#15 Edmonton Dave on 10.08.22 at 10:58 am

Another great article Ryan. On this Thanksgiving weekend, I’m thankful that my parents and my older brother taught me all about money when I was growing up. A piggy bank got me started, and it was a powerful symbol of the power of saving. That alone is why I’m doing great compared to my friends, I was taught and participated in saving/spending.
Every child should be taught about money at an early age.

#16 But who really cares on 10.08.22 at 10:59 am

Thanks for the blog Garth
Thanks for the post Ryan
Glad Ryan your grandmother is recovering.
I have had similar discussion with friends about spending

bottom line like your mother they either don’t understand the money being spent or don’t care so long as it’s a good benefit like dental plan.

Why should Canadians care? As pointed out on this blog for years, the majority of Canadians are living paycheque to paycheque and are buried in debt. So what do they care if the government is in debt? Free dental yep I vote for that.

Two things are going to happen, the debt will be inflated away, already the debt has decreased between 5 and 8 percent in real dollars.

The Fed will not be able to control inflation because in the US they have so many job vacancies, remember this trend started in 2010 when the baby boomers started to retire and the line of more jobs than people started in earnest in 2018.

In conclusion high fed rate will not created job losses. We will continue to see more job vacancies then people seeking work. So now the new target is probably 5 percent inflation. So do the math, how many years till 1.1 trillion in debt reaches zero @ 5 percent

Or we will become a banana republic again, for those old enough to remember the Canadian dollar at 55 cents sorry could not find exact number but it was almost that low sometime in 1999

Like all governments they will spin the story anyhow they want. And no-one cares. When was the last real debate on debt? Probably when Garth carried the debt clock around.

Happy Thanksgiving

#17 Doug t on 10.08.22 at 11:02 am

DELETED

#18 the Jaguar on 10.08.22 at 11:05 am

Blogs posts will be off the chart today.

Like Ryan’s Nana, my grandmother as well as my mother were Liberals. A review of the social safety net prior to recent times ( pre 1960) will show why. Check out the history of health care alone in this country, never mind the long list of other current programs that weren’t around to support people in real need. At some point it just got out of control.

Chicken in every pot, vote buying or pandering to interest groups or economic regions, etc. Call it what you want. We could whisper the words ” Canada Child Benefit ($6,833 per child per year) to Garth just for the fun of watching his reaction. ‘Hand out’ versus ‘hand up’, etc. Call it like you see it, I suppose.

Is there a need for dental care assistance? Maybe, on a case by case basis. Should a ‘means’ test apply prior to receipt of funds? Maybe, but that sounds like a bureacracy building opportunity as well. Is it impolitic to suggest that parents should be responsible for the dental hygiene and education of the children they produce? Exactly who is slipping throught the cracks and why?

When government becomes too large or thinks it must be everything to everyone, personal responsibility disappears. Or as someone in Cuba once said to me when I asked why something in plain view was being neglected, ” When it is no one person’s responsibility, it is no ones responsibility”. We used to call this accountability, but that’s now a dirty word.

I sometimes think government in our lives has ‘ballooned’ to its current level as a way of keeping control over its citizens. It feels a bit like Munchausen Syndrome by Proxy these days. The beatings will continue until the moral improves. I favour less government, not more and of course much more regional autonomy.

Jason Kenney wrote an excellent article about how much money we could save with removal of some onerous interprovincial trade barriers between provides and referenced the study below. An interesting read . Apparently we could save some money and put people to work. Happy Thanksgiving, peeps. This ‘links’ for you.

https://macdonaldlaurier.ca/wp-content/uploads/2022/09/20220911_Interprovincial_trade_Manuch_Tombe_PAPER_FWeb.pdf?mc_cid=9214d2b787&mc_eid=UNIQID

#19 the Jaguar on 10.08.22 at 11:07 am

‘provides’ meant to be ‘provinces’

#20 T on 10.08.22 at 11:09 am

“most apps are built for less than $1-millon”

———

Most apps are total garbage failures without any consideration of security and performance.

There is so much more to building a secure app for multiple ecosystems than just putting a few developers on it. Never mind the time constraints.

$54M is a bit much but to even think this could have been developed, tested, maintained, hosted, and supported for anywhere near $1M is ridiculous.

#21 crowdedelevatorfartz on 10.08.22 at 11:10 am

Another anti govt, bloated bureaucracy rant.

Commercial Property taxes.
Our commercial property taxes in Burnaby are an amalgamation of Provincial School Tax, Transit tax, Sewer, Water, Garbage, City tax, etc etc etc.
2020 Taxes. $16,400
2021 Taxes. $22,300
2022 Taxes. $32,400.
No I’m not joking.
“But the property is worth more!” you say.
I dont own the property, I rent and the taxes are part of the rent.
When I dug deep into the taxes I noticed the “Provincial School tax” portion of the entire Property taxation was the worst offender.
Provincial School Tax
2020 Tax: $2,200
2021 Tax: $8,400
2022 Tax : $11,300

Oh did I mention.
The road in front of our shop, in an industrial area has never been snow plowed, not once , in the 10 years I’ve worked here.
Not once.
Even Burnaby gets several snow dumps per year that may last several weeks.
But I did have Burnaby City workers tromping around on my shop lawn last week to video and physically tag all the trees on the property.
“Why?”
“Too many people are illegally cutting them down”.
“So you guys are like the Tree police.”
They laughed and agreed.
This is what keeps our bureaucrats amused.

Our entire country is being run (ruined) by these idiots.

#22 X on 10.08.22 at 11:20 am

It isn’t like there wasn’t already a government sponsored dental program and children in need were going without, CINOT has been around for years. Having said that, it wasn’t a perfect program either.

Generally speaking dental care doesn’t have the issues health care does. Once government gets the health care system right, perhaps then they should look to other health care sectors for improvements.

#23 James on 10.08.22 at 11:23 am

– Don’t all kids deserve dental care?
Answer: Yes, of course. The government needs to stop taxing people so outrageously so that parents can pay for their kids’ dental care themselves . There is no reason the government should be acting as a middle man to dental care. It’s overall more expensive that way, as the government bureaucracy takes a cut.

Couple more reasons Trudeau is hated in addition to his obscene spending:
– vilifying those he disagrees with and painting them with a broad brush (freedom convoy)
– his hypocrisy (climate change, as he jettisons around)
– his hypocrisy (racism, he worse blackface multiple times)
– his hypocrisy (support of women, yet see his treatment of JWR)
– his hypocrisy (supports Iran protest, but condemned the freedom convoy protest)
– constant virtue signaling for every extreme left cause
– energy policies that will are ridiculous and hurting everyone but the rich
– Covid-19 authoritarianism and vindictiveness
– putting globalist ideals ahead of Canadians best interests
– maximum unreasonable immigration that doesn’t take into account what housing, hospitals, roads and other infrastructure can support (sorry Garth, but it’s true)
– controlling the media (subsidies to newspapers and media, the CBC)
– socialist tendencies (trying to have everything government run just like dental)
– removing rights and freedoms (travel restrictions, gun grab, Internet censorship)
– smug demeanour when it’s clear he has no critical thinking skills that could make him a good PM. All he has is socks and hair – nothing else

So yeah, he’s the worst PM of my lifetime. Brian Mulroney is second worst. I wasn’t alive for the first terrible Truedeau. To be fair, Trudeau is the symptom and not the cause. We’ve got a generation of people that think the government is there to take care of all the hardships in life for you, rather than uphold your freedoms so that you yourself can make your life great. The education system is too far gone, sadly. Take the story in Oakville about a teacher wearing large prosthetic breasts with protruding nipples, for example. In the old days, parents would intervene to get the pervert away from their kids. Today, you have the education system we pay for defending the pervert under the guise of this being a gender issue. It is not or course. Large prosthetic breasts have no place in education just like a large prosthetic penis would have no place in the school. But this is the left world of today.

Happy Thanksgiving everyone!

#24 Faron on 10.08.22 at 11:34 am

#77 Sail Away on 10.07.22 at 11:34 pm
#66 Ed on 10.07.22 at 8:55 pm

You are both, by defn, ignorant.

it’s possible to sail through some areas of a garbage patch and not see any debris at all.

https://marinedebris.noaa.gov/info/patch.html

I’d also be curious to see your plotted route. I doubt you actually sailed through it

#25 Well we ... on 10.08.22 at 11:34 am

bought a smaller turkey this year.

#26 Richard L on 10.08.22 at 11:41 am

Well said Ryan.

The extreme spending of the current government will result in a reduction in the standard of living for our children who will be forced to pay for debt they did not vote for.

#27 Victor Llearna on 10.08.22 at 11:43 am

A reflex response to why people ‘dislike’ Trudeau would be that he is the worst canadian prime minister ever (his father Pierre is a close 2nd worst) and Justin is one of the most incompetent leaders ever in the civilized world.

#28 Joe Lalonde on 10.08.22 at 11:50 am

You missed something…
That is just our federal government tax bill.
Add on Provinces which have massive debts as well and Manicipalities which usually partner their debts for these unachievable projects…
That alot of bills that are owed by the taxpayers.
Nobody is accountable as they’ll just be voted out and someone else’s problem.

#29 Guber on 10.08.22 at 11:59 am

I quit my job, it’s obvious one day soon I will wake up and Justin will be providing everything I need.

You should too. We all should, yah baby yah.

What you say? They legalized pot too?

#30 Ponzius Pilatus on 10.08.22 at 11:59 am

Britain has a conservative government and is in worse shape than Canada.
It’s not as simple as right vs. left.
As for the Government payroll:
As the country grows, one has to expect a larger Government workforce.
How large is enough is another question.
Just don’t asked the Fraser Institute and the Taxpayers Federation.
Or FURZ.

#31 Quintilian on 10.08.22 at 12:02 pm

https://www.ceicdata.com/en/indicator/canada/national-government-debt#:~:text=Related%20information%20about%20Canada%20National,USD%20bn%20in%20Jun%202022.

Ryan, listen to your mom, she has wisdom.
It comes from the knowledge that “it is better to raise strong children than to fix broken men.

Canada’s Debt to GDP is one of the best among advanced economies.

#32 Ryan Lewenza on 10.08.22 at 12:03 pm

tecumseh guy “Great post Ryan. Nice to see you spend time with your family. Please tell a certain lewenza that lives behind me to stop fighting with his wife. At least close the windows. It disturbs the entire neighborhood. Have a great weekend.”

I think I know who you’re referring to and will do. – Ryan L

#33 WTF on 10.08.22 at 12:04 pm

Yes, the profligate spending and long-term fiscal pain will be ugly, AND we have more to add to the economic steaming pile. The virtue signaling Carbon Tax tripled by 2030. Fiscal buffoonery at the highest levels.

https://twitter.com/FoodProfessor/status/1578356577463021568

#34 Odif on 10.08.22 at 12:26 pm

While I’m a “leftie” and voted for Trudeau in 2015, what his government is doing nowadays is nuts. I would just love to see an alternative though, who can we replace this failed government with?

Jagmeet would likely also run a very spendy government just like Trudeau. Pierre seems to be rising and I worry he will be another terrible choice, for different reasons though.

#35 Jay (not that one) on 10.08.22 at 12:26 pm

DELETED (Abusive)

#36 Shawn on 10.08.22 at 12:29 pm

Bank of Canada Balance Sheet Shrivels

How about let’s focus on some good news?

If the big increase in the Bank of Canada’ balance sheet during the pandemic then its current reversal must be a good thing?

Total assets down from $572 billion at the peak to now $432 billion. That’s a 24% decline. A long way to go to return to pre-pandemic but this progress is great?

And, resident money experts, does it mean that money has been un-printed? (They used a pencil to print money and now erased it?)

And check out this nifty chart with its easy ability to chart any component of the balance sheet you like and to put as many components on the chart as you like. Kudos to whoever developed this chart?

https://www.bankofcanada.ca/rates/banking-and-financial-statistics/bank-of-canada-assets-and-liabilities-weekly-formerly-b2/

#37 Broader Mind on 10.08.22 at 12:37 pm

#20 T Let me guess, you’re on the receiving end of this geyser. Most every professional in the industry agreed the app is simple and worth approximately 1 million.

#38 Calgary on 10.08.22 at 12:41 pm

https://ca.finance.yahoo.com/news/nearly-half-of-canadians-on-the-brink-of-insolvency-mnp-survey-182844647.html

50% ! It can’t be true.

#39 DC on 10.08.22 at 12:45 pm

Let’s face it, history will not judge JT well. The worst PM in the history of this great country, hand’s down! Not that he gives a bleep.

DC

#40 Søren Angst on 10.08.22 at 12:48 pm

Disingenuous. Divisive. Daft. Dunce.

At least his Dad had brains.

#41 Upside-Down on 10.08.22 at 12:51 pm

“the multiyear hiring spree that has swollen the ranks of civil servants by nearly a third since the federal Liberals came to power in 2015.”

This is so blantantly obvious the direction the so called ‘lieberal’ thinking of shifting Canada into a One-Gov, communist leadership rule aka DRNK and China.

Now try to run a country while eliminating the bloated communist bureaucracy! More terrible years ahead of division and confrontation.

#42 Broader Mind on 10.08.22 at 1:00 pm

#36 Shawn , is that sarcasm. BOC assets purchased (bonds) in an effort to manipulate low interest are now falling in value. We/Canada will have to pay for this.

#43 Alberta Ed on 10.08.22 at 1:10 pm

Powerful column and very useful, thanks. Our virtue-posturing PM is fond of throwing money at any cause that he thinks is popular, but rarely has he any sound ideas about implementation, or any concern about who is going to pay. Integrity is the most important quality for anyone in a leadership position, and Trudeau has none.

#44 Bguy1 on 10.08.22 at 1:11 pm

Why is it stated that the debt has to be paid off?

#45 Bdwy on 10.08.22 at 1:14 pm

24 Faron on 10.08.22 at 11:34 am

#77 Sail Away on 10.07.22 at 11:34 pm
#66 Ed on 10.07.22 at 8:55 pm

You are both, by defn, ignorant.

it’s possible to sail through some areas of a garbage patch and not see any debris at all.

https://marinedebris.noaa.gov/info/patch.html

I’d also be curious to see your plotted route. I doubt you actually sailed through

…….
There is nothing to see . It’s a wildly exxagerated nearing a flat out lie. As big as texas but no photo from the air, ship or satellite exisits showing a trace of it.

Faron you are not only an embarrassment to science but to rational thinking humanity. The danger is having anyone in power taking heed in the dogmatic fradulent ‘science’ pushed by fools.

#46 God Bless Vladimir Putin on 10.08.22 at 1:14 pm

DELETED (Homophobic, misogynist)

#47 Damifino on 10.08.22 at 1:17 pm

#23 James

I wasn’t alive for the first terrible Truedeau.
——————————

I was. It wasn’t nearly this bad.

#48 Flag on 10.08.22 at 1:19 pm

Just FYI Justin, that is NOT the new all-inclusive flag you’re waving.

Yes, I’m offended.

#49 Andy on 10.08.22 at 1:21 pm

Lot of Trudeau bashers here, fine I’m a bit tired of the spending too, but in a democracy the opposition has to win for the government to be kicked out. Support a political party that can do it, simple as that, instead of whining.

#50 surfer on 10.08.22 at 1:23 pm

Worst PM ever. His old man was the second worst.

#51 Don Guillermo on 10.08.22 at 1:31 pm

#30 Ponzius Pilatus on 10.08.22

“Just don’t asked the Fraser Institute and the Taxpayers Federation.Or FURZ.”

Of course you don’t want to ask them. You won’t like the answers. Best to believe fairy tales from your bobblehead government .

#52 Shawn on 10.08.22 at 1:48 pm

Why the Bank of Canada Assets are falling?

#42 Broader Mind on 10.08.22 at 1:00 pm responded:

#36 Shawn , is that sarcasm. BOC assets purchased (bonds) in an effort to manipulate low interest are now falling in value. We/Canada will have to pay for this.

**************************
Okay, respectfully, that is a logical theory. But I have heard that the Government of Canada has indemnified the Bank of Canada from such losses. And in fact you can see a line item under assets for that. As bond value declines due to higher rates the derivative asset goes up. If your theory were true then the capital of the Bank of Canada would be getting wiped out. You are correct that Canada must pay for the lower bond values, but it does not explain the decrease in the Bank of Canada’s assets

Explore the balance sheet a bit harder and consider if the the evidence is that bonds have been sold to banks (bonds down, liabilities (deposits) of members of payments Canada are also down as the banks got bonds and paid for them with their reserves at the bank of Canada.

These are complex matters so let’s not jump to conclusions.

https://www.bankofcanada.ca/rates/banking-and-financial-statistics/bank-of-canada-assets-and-liabilities-weekly-formerly-b2/

#53 Ryan Lewenza on 10.08.22 at 1:55 pm

Bguy1 “Why is it stated that the debt has to be paid off?”

Don’t you aim to pay off your credit card debt and mortgage so you’ll have more cash flow to spend in the future? I’m not saying we need to pay it all off but wouldn’t it be better to balance the budget, use the surplus to pay off some debt so that 1) less money goes to paying the interest on the debt, 2) which in turn frees up the government to spend more on services and 3) provides us more flexibility in the future for when the next major downturn comes. – Ryan L

#54 Omasare on 10.08.22 at 2:06 pm

Three good reasons to find JT abhorrent:

Promised to reform the electoral system, didn’t when he understood, or someone explained it to him with crayons that it meant he would never be elected again

´The budget will balance itself’ still laughing years later…

Turning Canada into France, but without you know, the culture and the cooking (poutine doesn’t count as culinary culture…)

#55 Linda on 10.08.22 at 2:10 pm

The issue with making cuts is that whatever cuts are made, those receiving such cuts are going to fight tooth & nail to keep the funds flowing. Consider that lots of folks who didn’t need or even qualify for CERB happily took the $, then were outraged by the expectation that they pay those $ back. Or that they lost access to other benefits as a result of taking the CERB cash. For example, the older gentleman who complained his GIS benefit was cut as a result of his receiving CERB.

While JT & crew have certainly doled out $ like it is Christmas every day, the use of public $ to buy votes has unfortunately been an entrenched part of politics for a very long time now. The idea of living within ones means & being mindful of the public purse is one horse that left the barn a very long time ago. Don’t see anyone who wants to remain in power reversing that policy.

#56 To the point. on 10.08.22 at 2:12 pm

Dang-nabbit kids these days! Think that money grows on trees. Young Justin…the apple don’t fall far from the tree! Why, in my day, a penny earned was a penny saved. If your teeth was rotten, well then, you just saved up for some dentures. If you was born poor, then you saved up for indoor plumbing and stuffed rags in the walls in winter. Yep, that was Canada right up to the sixties when that government in Ottawa started to “fix” things. You would think this country was rich or something!

#57 Mike Hunt on 10.08.22 at 2:12 pm

The problem with these 10,000 new homes for billions of dollars is that they give priority to social interest groups while the average middle class Canadian is left to pay $2,000 a month to rent a one-bedroom apartment in Toronto in order to maintain their jobs and not be homeless.

It’s even worse if you’re a single male because the social workers view them as more privileged.

I’ve been to the social justice universities in Toronto. They despise single men except if they are wealthy.

#58 crowdedelevatorfartz on 10.08.22 at 2:21 pm

@#54 Ryan L
“I’m not saying we need to pay it all off but wouldn’t it be better to balance the budget, use the surplus to pay off some debt so that 1) less money goes to paying the interest on the debt, 2) which in turn frees up the government to spend more on services and 3) provides us more flexibility in the future for when the next major downturn comes. – Ryan L’

+++
Reason and rational budgeting doesn’t mean anything to a Liberal on a Politically Correct mission to save us from ourselves.
Just ask Ponzie.
“Liberals always right, everyone else wrong.”

#59 Meh on 10.08.22 at 2:24 pm

“While I don’t hold any animus towards Mr. Trudeau”

See? There’s your problem right there Ryan.

Get mad and animus gosh darn it.

#60 crossbordershopper on 10.08.22 at 2:27 pm

well lets just continue down the road, where we all work for our neighbour, we are all one and the same and work and have all our stuff taken then redistributed evenly, what can go wrong.
the only problem with that is i would allow no one else in, everything gets made and recycled, no more people very few people at best.
in the end we all die, why are there poor, why are there rich, did we come out of the wrong belly, isnt it just a crap shoot anyway.
i give thanks for everything i have on thanksgiving, lots people have a lot less than me, and i am ok with that, and definitely people wealthier, but all in all, the 40 million canadians are in the global aspect at the top already

#61 baloney Sandwitch on 10.08.22 at 2:32 pm

Yet he keeps on winning and the con’s losing. Because the choice is between an irresponsible profligate generosity and a racist, environmentally unfriendly, and anti-science fascist.

#62 Sail Away on 10.08.22 at 2:34 pm

#45 Bdwy on 10.08.22 at 1:14 pm
24 Faron on 10.08.22 at 11:34 am

#77 Sail Away on 10.07.22 at 11:34 pm
#66 Ed on 10.07.22 at 8:55 pm

You are both, by defn, ignorant.

it’s possible to sail through some areas of a garbage patch and not see any debris at all.

https://marinedebris.noaa.gov/info/patch.html

I’d also be curious to see your plotted route. I doubt you actually sailed through

———-

There is nothing to see . It’s a wildly exxagerated nearing a flat out lie. As big as texas but no photo from the air, ship or satellite exisits showing a trace of it.

Faron you are not only an embarrassment to science but to rational thinking humanity. The danger is having anyone in power taking heed in the dogmatic fradulent ‘science’ pushed by fools.

———-

It’s the same as the End of the Great Barrier Reef!! Sailboaters have been reporting for years that the reef is looking pretty dang good, contrary to apocalyptic sensational greenie panic.

So this year, it was examined. Guess what? More vibrant, life-filled and vibrant than ever before recorded! Huh.

Don’t buy into garbage science. We’ve clearly seen on here the aspersions, insults, intellectual dishonesty and sheer nastiness exhibited by a self-declared ‘expert’ in this area.

Be skeptical. Demand facts.

#63 Ponzius Pilatus on 10.08.22 at 2:37 pm

#51 Don Guillermo on 10.08.22 at 1:31 pm
#30 Ponzius Pilatus on 10.08.22

“Just don’t asked the Fraser Institute and the Taxpayers Federation.Or FURZ.”

Of course you don’t want to ask them. You won’t like the answers. Best to believe fairy tales from your bobblehead government .
——————
Not really.
As I mentioned often before, I look at least at one opinion from each opposite source.
Before I lock in.
You should try that, too.
Groupthink has been shown to lead to very bad decisions.
Like moving to Mechiko.

#64 Faron on 10.08.22 at 2:46 pm

#45 Bdwy on 10.08.22 at 1:14 pm

I’m an embarrassment to science because I point to a science-based information source to argue against non-scientific unrigorous nonsense from Sail Away and Ed? Uh, okay.

#65 vellasamy on 10.08.22 at 2:52 pm

From https://www.thespec.com/opinion/contributors/2021/04/28/the-truth-about-canadas-debt.html

“of the roughly $400 billion added to the national debt as part of the necessary response to the pandemic, well over $300 billion has been purchased by the Bank of Canada. The Government of Canada owns the Bank of Canada, so interest paid on this debt is essentially a payment back to the government. In principle, the bank could in time forgive the outstanding debt.

This does not mean the government, with its bank, has free reign to create all the money it wants. But when a budget that aims to support a critical green and just pandemic recovery is being prepared, we must not be distracted by misinformed rhetoric about our children having to pay for the national debt”

#66 Faron on 10.08.22 at 2:53 pm

#51 Don Guillermo on 10.08.22 at 1:31 pm
#30 Ponzius Pilatus on 10.08.22

Just don’t asked the Fraser Institute

Yes, don’t. But also, no one asks them anything.

Don “guac” Guillermo, I have a question. Why is it that Canadians should put any stock in the “analysis” that is produced by a “think tank” funded by the US of American owner of a US fossil fuel mega corporation? I would think that Canadians should be guiding Canadian policy. Do you disagree? To be clear, the Fraser Institute is funded in part by Charles Koch.

#67 ValleyBoy on 10.08.22 at 2:54 pm

It is fiscal stimulus not debt. If the government called in the debt we would all go broke. Repeat after me the government deficit is our prosperity. If you want stocks to crash and GDP to shrink just ask the gov to stop spending and tax us more. This acting like the gov deficit is our household debt is backwards. And in the stats why is loan grown accelerating with higher rates?

#68 T on 10.08.22 at 2:55 pm

#37 Broader Mind on 10.08.22 at 12:37 pm
#20 T Let me guess, you’re on the receiving end of this geyser. Most every professional in the industry agreed the app is simple and worth approximately 1 million.

———

No.

I have significant experience in web / Internet / app ecosystems and development. Anyone who suggests a platform like this could be developed for anywhere near $1M doesn’t understand how these types of projects are planned and executed, and certainly shouldn’t be commenting on costs as it’s obviously beyond any experience they have. E&O insurance costs alone to take on a project with such data would be mind blowing to many.

$56M is a lot, however a competitive bid from a reputable development firm would be closer to $56M than $1M.

#69 IHCTD9 on 10.08.22 at 2:56 pm

Trudeau is the worst PM in Canadian history. He’s so bad, that I’m already scheming on how I might need to help my kids through the next 20-30 years when the repercussions of Trudeau’s botched leadership hits the street. The OECD says we’re going to be dead last for GDP growth till 2060, and we can basically thank Trudeau’s disastrous nose honking amateur government for this.

IMHO, the damage done is so great, and the remedy for same so unpalatable, that Canadians will not tolerate the dose required. Post-Trudeau Canada will be one where strife and suffering will be ubiquitous, and one where folks finally start making the decision: it ain’t worth it.

#70 Why I hate the blackface hypocrite on 10.08.22 at 2:57 pm

DELETED (Anti-vaccine)

#71 Broader Mind on 10.08.22 at 2:59 pm

#52 Shawn, my understanding is that BOC holds the bonds till they expire. They really can’t sell them as there would be a very weak market for them at the present yield. Trying to sell some would worsen the asset value and cause the yield to explode.No other advanced country has bond yields close to the bank rate.There is a premium over bank rate that is presently absent in Canada.

#72 Kevin BC on 10.08.22 at 3:06 pm

Great article, 100% with you, Ryan!! Thank you for doing this.

#73 Faron on 10.08.22 at 3:08 pm

#62 Sail Away on 10.08.22 at 2:34 pm
#45 Bdwy on 10.08.22 at 1:14 pm
24 Faron on 10.08.22 at 11:34 am
#77 Sail Away on 10.07.22 at 11:34 pm
#66 Ed on 10.07.22 at 8:55 pm

More vibrant, life-filled and vibrant

That’s really vibrant!

Read this: https://www.aims.gov.au/monitoring-great-barrier-reef/gbr-condition-summary-2021-22

So, we should believe the sailboaters (LOL) trained in ??? over the marine ecologists who understand how coral reefs function? The story is of a few good years largely due to ENSO activity situated on top of a downward trend. Scientists don’t cherry pick years like you do Sail Away. Ask yer wife.

Sorry for this barrage of referenced facts that makes your empirical speculation look plain foolish.

#74 IHCTD9 on 10.08.22 at 3:10 pm

#41 Upside-Down on 10.08.22 at 12:51 pm
“the multiyear hiring spree that has swollen the ranks of civil servants by nearly a third since the federal Liberals came to power in 2015.”

This is so blantantly obvious the direction the so called ‘lieberal’ thinking of shifting Canada into a One-Gov, communist leadership rule aka DRNK and China.

Now try to run a country while eliminating the bloated communist bureaucracy! More terrible years ahead of division and confrontation.
———-

Hey, look at the bright side. The sooner we live under a communist regime, the sooner you and I might be able to claim refugee status in the great US of A.

#75 LewenzaCountry aka Prince Polo on 10.08.22 at 3:12 pm

The thing I like most about our dear Photo-op Minister’s leadership, is his acceptance of dissenting views within his own party. Just ask JWR if you need more evidence!

#76 Shawn on 10.08.22 at 3:14 pm

Bank of Canada Balance Sheet

#71 Broader Mind on 10.08.22 at 2:59 pm

#52 Shawn, my understanding is that BOC holds the bonds till they expire. They really can’t sell them as there would be a very weak market for them at the present yield. Trying to sell some would worsen the asset value and cause the yield to explode.No other advanced country has bond yields close to the bank rate.There is a premium over bank rate that is presently absent in Canada.

******************************
Well, yes they keep some until maturity but some of your understanding seems wrong. Look at the balance sheet. They reduced bonds by Over $55 billion and the indemnity is $25 billion. Maybe they sold some bonds back to the banks. Reversing the process where they bought the bonds with “money” created from thin air.

Maybe some of those bonds simply matured.

The bottom line is if people though the pandemic growth in the bank of Canada balance sheet was horrible they should now admit that a 24% reduction is a good step in the right direction.

They did quantitative easing and now they have been doing quantitative easing.

What is your explanation for the 24% drop in assets with no drop in bank capital / equity?

Vague understanding is one thing, numbers on a balance sheet are another thing.

https://www.bankofcanada.ca/rates/banking-and-financial-statistics/bank-of-canada-assets-and-liabilities-weekly-formerly-b2/

#77 Faron on 10.08.22 at 3:16 pm

#68 T on 10.08.22 at 2:55 pm

Yep. I could hack together an Android app that kinda looks like Arrive Can, but making a multiplatform, secure app wired into CBSA’s data framework requires lots of expensive heavy lifting in development, auditing, bandwidth and testing.

#78 kommykim on 10.08.22 at 3:21 pm

RE: #50 surfer on 10.08.22 at 1:23 pm
Worst PM ever. His old man was the second worst.

========================================

Yet the Conservatives still can’t beat him…

#79 Our PM Failed Grade 7 on 10.08.22 at 3:27 pm

DELETED (Abusive)

#80 Swisher on 10.08.22 at 3:32 pm

But doesn’t the budget will balance itself ?

#81 JWD on 10.08.22 at 3:34 pm

Extremes. Govt spending, taxes, and now an almost exteme move to the left and socialism. As nice as it would be, we can’t help everyone and everyone doesn’t want help. The left it seems wants to hand out support and money to everyone. Everyone is a victim and the govt supports this narrative. Handouts to all! It’s ubiquitous. And scary. City crime has never been worse as the govt and police don’t enforce. So now there is homelessness and tent communities everywhere. Public real estate. Entitlement. It’s now my home.

By in large, the younger generation has lost grit and resilience. They want to take 5 breaks a day to update their Spotify playlist and make a new Tik Tok. Work ethic has shifted for many. My goal is to raise my kids with that ‘old school’ mentality – respect, work ethic, grit, team player. I totally agree with Ryan- Less govt and more accountability, less spending = a brighter future. Trudeau is completely out of touch with reality and his policies are ruining this country. Vote Trudeau out!!

#82 The Gold Standard on 10.08.22 at 3:35 pm

I was around when dad was PM and the fruit doesn’t fall far from the tree because Pierre had pretty much ruined Canada for decades by the time he left the scene.

#83 Reality is stark on 10.08.22 at 3:40 pm

Finally we are beginning to address the real issue here.
It’s taken you guys long enough.
Trudeau is doing all the right things if you want a 50 cent dollar, but be careful what you wish for because a 50 cent dollar is highly inflationary.
Most Canadians want a 50 cent dollar but they don’t know why or what the ramifications are because they are mostly financially illiterate.
However this is not the worst of the news. You need to discuss the long term effects of transferring wealth to the risk averse public sector. Without an announcement that all government matching of public sector pensions ends tomorrow the 50 cent dollar is an absolute certainty.
A hewers of wood and drawers of water economy is a nothing economy. Don’t tell Justin that because that is beyond his capacity of understanding.

#84 Freedom First on 10.08.22 at 3:51 pm

Garths Blog is for my Financial advice.
The late Great George Carlin is for my political guidance.

In the end, I run my life, as I have since I was 10. I am 70 now.

Freedom First.

#85 Shawn on 10.08.22 at 3:56 pm

Speaking of Shriveled…

I was just sent a picture of the Athabasca Glacier that has been a popular tour stop for years. (Wear your seat belt on the bus, but that’s another story).

It’s receding / melting fast.

Soon they will need a sign reading:

“Nothing to See Here”

#86 young & foolish on 10.08.22 at 4:02 pm

Bguy1 “Why is it stated that the debt has to be paid off?”

Don’t you aim to pay off your credit card debt and mortgage so you’ll have more cash flow to spend in the future? I’m not saying we need to pay it all off but wouldn’t it be better to balance the budget, use the surplus to pay off some debt so that 1) less money goes to paying the interest on the debt, 2) which in turn frees up the government to spend more on services and 3) provides us more flexibility in the future for when the next major downturn comes. – Ryan L

———————————————————–

A real liberal would want to preserve the integrity of the public purse, no?

#87 wallflower on 10.08.22 at 4:24 pm

I find these typical Ryan/Mom conversations represent one side who is paying and the other side who is not. I bet Ryan’s mom’s personal tax remittances have never been on the scale of Ryan’s. When you are the one paying the bills, you are also more typically the one examining the expenses.

One more item on this topic.
Many years ago, a friend called me to declare, “My kids are getting free dental services,” to which I responded, “Ah, no, actually, they are not free. I paid for those with my $30K in taxes this year.”
This whole concept of free is why the planet is suffering as an ecological entity.
There is no such thing as free. Free always has a price.

And this is the political divide; who or what pays that price? And, who has the power to assign that price?

#88 crowdedelevatorfartz on 10.08.22 at 4:34 pm

@#68 T
“$56M is a lot, however a competitive bid from a reputable development firm would be closer to $56M than $1M.”
+++
Perhaps the Cretien Liberals in 1993 should have hired you for $58 million when they said the National Computer Gun Registry would cost “$2 million per year….”
$679 million dollars later and $320 million per year to operate …..
We have a gun registry that former Toronto Police chief Julian Fantino in 2010 said, ” does nothing to stop illegal guns from entering from the US…”

And here we are back at the beginning, watching the latest Liberal Leader offering to spend billions on “gun control” when it’s the LACK of incarceration of the criminals caught with guns that is the issue.
But what another billion taxpayer dollars sprayed in the urinal?
It’s not like it’s the Prime Ministers money.

Perhaps Canadian voters should be allowed to vote on one referendum question per Federal Election.
Say.
“Do you agree that ALL federal MP’s will not receive a pensionable year on their lifetime pension when a fiscal budget is in deficit.”

Nothing like trying to focus a pig’s attention when it’s grunting, squealing and feasting at a trough when you take the free food away.

#89 Grunt on 10.08.22 at 4:35 pm

T2 is a good representation for Canada on the international scene. He’s young, handsome & charismatic.

As for raising taxes I think they’ll hit non renewables.

1) for easy grab.
2) move the population away.

#90 Faron on 10.08.22 at 4:36 pm

I’m not as stoked about Trudeau as I could be as I’m not a capital L Liberal. But I’d be more receptive to your arguments, Ryan, if you re-cast the Federal Government Debt History graph so that it is normalized to other countries’ increased expenditures over the same, especially COVID, era. Any other display of the data is simply disingenuous political point scoring rather than objective analysis for serious discussion. Likewise, the next figure shows an increase, but this was from the stripped bare Harper era. The table of programmatic expenditures could be constructed for any government full stop.

I suspect you are correct that Trudeau has been more profligate than other nation’s govts, but your figures don’t allow us to conclude as much.

Finally, spending is but one side of the equation. A fiscally healthy nation that sends more is less a problem than an ailing nation belching cash.

#91 Ordinary Blog Dog on 10.08.22 at 4:43 pm

Ryan, many thanks. You hit this right on the point. People do not realize how this will play out in the future. It will restrict how Canada can apply desired programs and deal with future crises. This Government does not seem to lead, they just buy off the malcontents. I am not into politics, but this Government is bringing it to me. I think it is a worthwhile topic to have a blog devoted to the impact of high govt debt in the future. Let people know what it may/will look like.

#92 Jj on 10.08.22 at 4:50 pm

Justin is just printing long money. Pensioners use it for savings. We’ll never have to pay it back.

#93 T on 10.08.22 at 4:53 pm

#88 crowdedelevatorfartz on 10.08.22 at 4:34 pm
@#68 T
“$56M is a lot, however a competitive bid from a reputable development firm would be closer to $56M than $1M.”
+++
Perhaps the Cretien Liberals in 1993 should have hired you for $58 million when they said the National Computer Gun Registry would cost “$2 million per year….”

———

What I enjoy most about this blog in particular is how everyone stays on topic. No whataboutism at all.

You definitely stunk this one up.

#94 Calgary on 10.08.22 at 4:56 pm

https://twitter.com/village_whisper/status/1578194964550668288

The panic begins….

#95 Søren Angst on 10.08.22 at 4:56 pm

#31 Quintilian

Canada’s Debt to GDP is one of the best among advanced economies.

————————–

NO. IT’S NOT. USD $ data follows.

For example, in Italia there are no Provincial or City taxes – all the funding is from Gov Italia.

So whoever put that chart together KNOWS NOTHING.

Go here and scroll to “Public debt of Canadian provinces, territories, and local governments (PTLG)”

https://en.wikipedia.org/wiki/Canadian_public_debt

$2,737.6B

And THAT is for 2020. Add another $30B for the Feds to get it to 2022 let alone who knows how much more for the rest.

Italia is at:

$2,826.4B – yet we, Italia, are the “debt ridden”

FUN POINT, Population in light of the above:

Canada = 38 million
Italia = 59.55 million

Do Per Capita on your own.

Almost forgot, Household Debt/Corporate Debt:

Canada $2,165.9B / $5,242.9B
Italia $1,101.5B / $913B

Added up (Gov + Household + Corporate):

Canada = $10,146.40
Italia = $4,840.90

“Debt ridden Italia” vs. ever so well managed Canada incl. its peoples and businesses.

——————–

Ryan, above you have your BIG GOVERNMENT IN COLD HARD CASH + BIG SPENDER CDNS/BUSINESS

and the Worlds MSM have to the NERVE to make headlines (your usual Math Challenged, 2 bricks short of a full load crowd, not all the oars in the water, sack of hammers, box of rocks):

Analysis: Debt-laden Italy looks no less vulnerable as rates …
Italy’s debt-to-GDP ratio is the second-highest in the euro zone
etc.

Children of a Lesser Mind computing numbers – IQ suffrage.

#96 yvr_lurker on 10.08.22 at 4:58 pm

Good post. I fully agree that Trudeau and the spending habits of his Gov’t are way out of line and there will be a day of reckoning. However, please do not equate a lefty Gov’t with one who always spends excessively. The BC Gov’t is left of center for sure, but the province has been managed very well these past 5 years. No huge deficits, and close to the top across Canada. Too bad that the pragmatic mindset of the BC provinical Gov’t is not shared with those in the federal liberals.

#97 PBrasseur on 10.08.22 at 5:05 pm

Big government is above all a growth killer. Simply put It uses so much resources from the economy, both capital and Human Resources, that not enough is left for wealth creation in the free economy.

Stop wondering about inflation, this is the reason behind it, productivity is too poor to match stimulated demand, inflation is the result, standard of living going down.

Capitalism works, socialism don’t, it’s as simple as that. The crisis is only beginning.

#98 Ponzius Pilatus on 10.08.22 at 5:18 pm

#58 crowdedelevatorfartz on 10.08.22 at 2:21 pm
@#54 Ryan L
“I’m not saying we need to pay it all off but wouldn’t it be better to balance the budget, use the surplus to pay off some debt so that 1) less money goes to paying the interest on the debt, 2) which in turn frees up the government to spend more on services and 3) provides us more flexibility in the future for when the next major downturn comes. – Ryan L’

+++
Reason and rational budgeting doesn’t mean anything to a Liberal on a Politically Correct mission to save us from ourselves.
Just ask Ponzie.
“Liberals always right, everyone else wrong.”
—————-
Actually, I had no major issues with Harper.
Except for his weird sweaters, and shaking his sons hand when dropping him off at school.
Also, I think he could have done some bungee jumping to polish up his boring image.
But for me right now JT is the man.
He’s getting the moxie of his dad.
When I came to Canada, the old Guy was in charge.
Said to myself: My kinda Country.

#99 Søren Angst on 10.08.22 at 5:27 pm

#73 Faron

Firstly, don’t pop a fuse on me. Perused your OZ reefs link.

2ndly, I saw the chart and it seems that their reef is on the mend overall.

Finally, their Key Results say on the mend overall as well. And the Title was:

“Continued coral recovery leads to 36-year highs across two-thirds of the Great Barrier Reef”

I liked it they used colors like Green is Good, Red is Bad, Orange and Yellow in between.

Mind you, they had BLUE in there for eaters of coral and bleaching in the water but no real reference to that other than up, down, dash and %’s below with no Ref color … oh well.

Bleaching from the air was all GREEN, I assume = Good? As in not much bleaching seen from the air? Myopic pilots, surveyors?

#100 Trudeau is awesome on 10.08.22 at 5:27 pm

DELETED

#101 Søren Angst on 10.08.22 at 5:37 pm

#100 Trudeau is awesome

DELETED

————————-

You do realize that on the surface that does not look good politically speaking for the Blog. *

I assume the prose was not coincident with the Commenter Handle, antithetical?

———

*And yes Garth, I know its your Blog on loan today to Ryan.

Just observin’.

Commentary of all stripes is welcome. Abusive, mean-spirited, insulting personal rants about elected people of any stripe are not acceptable. Trash someone’s ideas or actions, not their physicality, background or family. – Garth

#102 Bazza on 10.08.22 at 5:42 pm

Well if the Trudeau government has hired so many new civil servants why the passport office fiasco and why did I have to wait 7 months for my OAS application to be processed? After i submitted my application the government website said it would take 6 weeks. That passed and then began the phone calls – 90 to 2 hour waits with “citizen friendly” music. Each person I spoke to told a different story. The last person said I wouldn’t hear anything until February 2023, the month before I would start collecting. But last week I received my notification.

#103 DanBC on 10.08.22 at 5:43 pm

DELETED (Abusive)

#104 Joe on 10.08.22 at 5:45 pm

For those of you that have older loved ones starting to deteriorate and you will need help at home to look after them, get your ducks lined up as the system is BROKEN..no PSW, no Physio..no Occupational Therapist to visit homes and if they do its very limited, maybe once a week for a few weeks and then your on your own. In Europe PSW workers visit 10 times a day, here you get once a week if lucky. No one gives a shit about it until it happens to you!

#105 crowdedelevatorfartz on 10.08.22 at 5:46 pm

@#90 Faron
“A fiscally healthy nation that sends more is less a problem than an ailing nation belching cash.
++++

I guess you didn’t realize. Canada is rapidly aging?

##################

@#93 T
“You definitely stunk this one up.’
+++
It’s in my gene’s….. or jeans….

####################

@#98 Ponzie’s Pal Pierre
“But for me right now JT is the man.
He’s getting the moxie of his dad.”

+++++
Nah.
I think he inherited far more attributes from the Mother’s side of the marital consummation.

#106 Concerned Citizen on 10.08.22 at 5:57 pm

If the Liberals tackled housing like they’ve tackled government-funded dental care, government-funded daycare, etc., then most of those things wouldn’t be needed. Imagine a world where Canadians paid the same percentage of income on real estate as the Americans? Think about how much more disposable income would be available for all of these other needs.

It drives me nuts that they ignore the elephant in the room. It also drives me nuts that they keep creating new programs while the existing ones (e.g. healthcare) get run down. And it also drove me nuts for years to hear pundits – including some I otherwise respect – talk about how it made sense to borrow since money was cheap, seemingly completely oblivious to the fact that money may not always be so cheap.

I’m a social liberal, but I can’t support this kind of reckless spending. I expect the NDP, especially under Singh, would be worse. I have no one to vote for, except perhaps the Greens.

#107 Quintilian on 10.08.22 at 5:57 pm

#95 Søren Angst on 10.08.22 at 4:56 pm
#31 Quintilian

Canada’s Debt to GDP is one of the best among advanced economies.

————————–

NO. IT’S NOT. USD $ data follows.

Too funny, figures don’t lie, but liars can sure figure:

Public debt to GDP Canada close to 90% Italia 126%
Hope Giorgia can fix that without destroying the social order of the country.

I will agree with you that Canadians carry too much personal debt.

#108 crowdedelevatorfartz on 10.08.22 at 5:58 pm

Yo 93 T!
Since we’re totally off subject.
Do you think todays bombing of the bridge linking Russia with Crimea will drive Putin totally over the top?

https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=&cad=rja&uact=8&ved=2ahUKEwjU29qR0NH6AhUwFjQIHU55AdcQvOMEKAB6BAgJEAE&url=https%3A%2F%2Fwww.bbc.com%2Fnews%2Fworld-europe-63183404&usg=AOvVaw1WEVUu6DoBTNRg-Wty5ohn

I mean he’s like a frenzied rat in a cage right about now.
Everything is going wrong.
He’s capable of anything to keep his abnormally large head on his tiny shoulders.

The US President seems to be getting far better intel than we internet conspiracy theorists and he keeps warning Putin, “Don’t do it!”

One wonders if Vlad will use a low level nuke somewhere in Ukraine and then try and blame it on the US CIA as an agitprop reverse blame strategy…

Call me paranoid.

Thoughts?

#109 Broader Mind on 10.08.22 at 6:06 pm

Hey freedom first back from the old days. #76 Shawn, you state they where quantitative easing and now there quantitative easing. I may be vague but you must be smokin some great stuff. My explanation for a 24% loss in assets is like if your house falls from a million to 760,000 you suffer a loss. You still own the house.

#110 Ustabe on 10.08.22 at 6:13 pm

#104 Joe on 10.08.22 at 5:45 pm

For those of you that have older loved ones starting to deteriorate and you will need help at home to look after them, get your ducks lined up as the system is BROKEN..no PSW, no Physio..no Occupational Therapist to visit homes and if they do its very limited, maybe once a week for a few weeks and then your on your own. In Europe PSW workers visit 10 times a day, here you get once a week if lucky. No one gives a shit about it until it happens to you!

Not my, nor my friends/neighbours experiences at all.
You do realize that the delivery of healthcare is a Provincial responsibility, do you not?

#111 Flop… on 10.08.22 at 6:29 pm

Its days like this I just sit back and wonder just how angry my Uncle Crowdie would get if he actually never helped vote Trudeau into power in the first place.

None of this needed to happen, and yet the end to the mess is nowhere in sight.

One day we’ll wake up and this will all be over, it’ll be remembered as a beautiful dream for some and a horrific nightmare for others.

Whoever is in charge, its time to get to the next chapter in The Big Book of Canada.

These are the dreams of ordinary men…

M48BC

———————————————————————-

“Everybody say amen
These are the dreams of ordinary men
This is the world that we’ll be living in
Out of the dreams of ordinary men.”

https://www.youtube.com/watch?v=DLKcBfljxs4

#112 Adam on 10.08.22 at 6:34 pm

I’ll keep this short and sweet. In 2016, I was a huge Bernie Sanders fan. The people wanted Bernie Sanders, but the Liberal party elites wanted Hillary Clinton – so they screwed Bernie over. After that happened, I voted for Trump (I am a dual citizen) and became a Donald Trump supporter. Him beating Hillary Clinton, to this day, remains one of the best days of my life. It was a true “comeuppance” for the liberal party. I honestly believe, had they picked Bernie, he would have beat Trump.

Why do I bring this up? Because I now consider myself a right-winger. I despise Justin Trudeau. Can’t stand him. But next election I just might vote for him. Why? Because Pierre Poilievre is probably one of the biggest tools I’ve ever seen. He lacks two things that are very important to me in a politician – conviction and authenticity. Trump had both those things. Trump marched to the beat of his drum and said what he wanted to say. But Pierre Poilievre seems to only say what he thinks people want him to say. That whole “Justinflation” breakfast sketch was cringeworthy. Him blaming Trudeau for inflation is ridiculous. I would love to ask Pierre Poilievre – “Hey Pierre, are you saying if you had been Prime Minister since 2016, that we wouldn’t currently have an inflation problem?”. If so I’d love to know how he managed to do it, since literally EVERY SINGLE COUNTRY is in the same boat. So basically, Pierre is lying to us. He thinks we are stupid. He says he is going to fire the BoC guys or whatever, this isn’t Tiff’s fault.

Bottom line – I would rather have the devil I know than the devil I don’t. I didn’t vote for Hillary because I KNEW she was corrupt. The email scandal solidified it for me. At least we all knew who Trump was – no skeletons in the closet. But Hillary had a bunch. And when I look at Pierre, I wonder how many side deals heh as made and how many buddies he will give jobs to. He is a CAREER POLITICIAN and that is the last thing Canada needs. I wish we had a Trump style candidate here, an outsider. So yeah, in 2025, I’ll be doing what I said I never would and voting for Trudeau because I’d rather have 2 more years of broken minority Trudeau than potentially have 8 years of that idiot Pierre Poilievre.

#113 Sail Away on 10.08.22 at 6:35 pm

One of the cool things about war is the awesomely deadly new gadgets. The US just can’t help showing it off.

Himars, in this case, that are being used to amazing effect by Ukraine. Yowza!

US tech plus Elon Musk’s free and always-functional Starlink are the stories of this war so far. Full communication at all times plus meter-accuracy targeting via coordinates from 50 miles away.

#114 Brian on 10.08.22 at 6:53 pm

#108 crowdedelevatorfartz

I don’t think Putin is shaking in his boots. The counter offensive has now started. Starlink system was jammed by the Russians. I’m not rooting for either side, I just follow all sources. Lots of propaganda from the MSM. Remember the Weapons of Mass Distruction fiasco?

#115 Sail Away on 10.08.22 at 7:03 pm

Sadly, Arrivecan was totally and completely unnecessary, unless snarling up travelers was the goal. Hopefully the unnamed companies were Canadian so at least the firehosed money woud’ve stayed in the country.

#116 Yukon Elvis on 10.08.22 at 7:07 pm

#108 crowdedelevatorfartz on 10.08.22 at 5:58 pm
Yo 93 T!
Since we’re totally off subject.
Do you think todays bombing of the bridge linking Russia with Crimea will drive Putin totally over the top?

https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=&cad=rja&uact=8&ved=2ahUKEwjU29qR0NH6AhUwFjQIHU55AdcQvOMEKAB6BAgJEAE&url=https%3A%2F%2Fwww.bbc.com%2Fnews%2Fworld-europe-63183404&usg=AOvVaw1WEVUu6DoBTNRg-Wty5ohn

I mean he’s like a frenzied rat in a cage right about now.
Everything is going wrong.
He’s capable of anything to keep his abnormally large head on his tiny shoulders.

The US President seems to be getting far better intel than we internet conspiracy theorists and he keeps warning Putin, “Don’t do it!”

One wonders if Vlad will use a low level nuke somewhere in Ukraine and then try and blame it on the US CIA as an agitprop reverse blame strategy…

Call me paranoid.

Thoughts?
++++++++++
Putin might be crazy. But there is a chain of command that probably is not crazy. They don’t want to die or see their kids and grandkids go up in smoke. I think Putin would be removed before the order to use nukes would be carried out. IMHO

#117 the jaguar on 10.08.22 at 7:08 pm

@94 Calgary.
Incredible. That’s BC. Imagine what”s happening in GTA, i.e. Brampton…

#118 WTF on 10.08.22 at 7:12 pm

Lit the fuse bringing up the Dilettante and his frisky monetary dalliances.

Every Government that has had Gerald Butts as their earworm err “political advisor” is now saddled with a crushing debt load.

With no financial background at all, he fits in well.

But hey, a great debater in Uni. He is smart enough to hide in the weeds and let others take the fall for his ill-conceived fire hosing of other people’s money.

First McGuinty/Wynne now Wonder boy and Freecash. The taxpayer of the future will be crushed.

Rinse, Repeat..

https://www.affordableenergy.ca/beware_gerald_butts_has_returned_to_ottawa

#119 Ed on 10.08.22 at 7:18 pm

Starlink wasn’t jammed…the UA advanced so quickly they past areas that are geolocked.

#120 Sail Away on 10.08.22 at 7:38 pm

#114 Brian on 10.08.22 at 6:53 pm

I don’t think Putin is shaking in his boots. The counter offensive has now started. Starlink system was jammed by the Russians.

———-

Russia keeps trying to jam and SpaceX keeps clearing and safeguarding. My money is on Elon for the win. Only minor, sporadic, and are-specific jamming has ever succeeded since the system came online.

#121 TurnerNation on 10.08.22 at 7:40 pm

Ah the compassionate and tolerant Leftists of Kanada.
Where will you find them? Why in the de facto mini ethno-states and exclusive or gated communities.
In the Beaches, Yorkville, Richmond hill and Woodbridge of the GTA.
You see, these Leftists don’t wish to actually live with the “Otherkind”, nor even to see them. Such is the embrace the Left holds as sway over this country’s culture. *rolls eyes*

I gotta say that Brampton is actually quite based and more inline with Blue. Then even elected washed-up P. Brown as mayor.

——
Here’s some CanCon for the overlevered Debtors.
Bryan Adams – Cuts like a knife.

https://www.youtube.com/watch?v=6VZhSkREYBc
Now it cuts like a knife
But it feels so right
Yeah, it cuts like a knife
Oh, but it feels so right
There’s times I’ve been mistaken
There’s times I thought I’d been misunderstood, ooo yeah
So wait a minute darlin’
Can’t you see we did the best we could, ooo we could
Wouldn’t be the first time
That things have gone astray
Now you’ve thrown it all away
Now it cuts like a knife

#122 TurnerNation on 10.08.22 at 7:55 pm

Big Government? As I noted, by Q2 2020 every system designed to protect us has been turned against us.
If you ever find yourself gasping and blue, know that you’ll be waiting extra-long for a ride. Call a cab?
Alllmost back to 2019 normal. Any day now!

Kommunist ideaology and the Party’s Rules trump all living (and dying as the case may be) things.

https://www.cbc.ca/news/canada/british-columbia/unvaccinated-medics-bc-get-back-to-work-1.6607357
Amid ambulance shortage, unvaccinated B.C. medics say they want to get back to work

#123 CJohnC on 10.08.22 at 7:57 pm

#102 Bazza.

……most work from home and they all quiet quit

#124 crowdedelevatorfartz on 10.08.22 at 7:59 pm

@#116 Yukon
“Putin might be crazy. But there is a chain of command that probably is not crazy..”
+++++

The US and Soviets have adopted strikingly different strategies for launching “The Strike”

The US President is given “the biscuit” at the Presidential inauguration that they carry everywhere. It is a small plastic puck to be broken open in a time of crisis. It contains data to verify the authentication codes carried in “The football” for missile launch.

The Russians have something similar but with one very big difference.
The Soviet nuclear launch staff are never told if the orders they receive are a genuine launch or simply an exercise.
They receive the order to “launch flight plan number XXX” and that is all they know.
The flight plan might be an exercise or the real deal.
The nuclear launch personnel are hundreds or thousands of miles from the actual silos so they never know if its a practice drill or not…….

One interesting side note.
The US spends huge amounts of time and money ensuring the people involved in the US nuclear weapons program are vetted for loyalty, integrity, stability, and discretion…. except one…
The President.

Think about that if Trump gets back in.

#125 Brian on 10.08.22 at 8:12 pm

The US Defense Department does not believe that a Russian nuclear strike is imminent, several Pentagon officials told journalists this week. Washington still treats Moscow’s supposed threats “very seriously,” they added. “We don’t assess that President Putin has made a decision to use nuclear weapons at this time,” the Pentagon’s press secretary, Brigadier General Patrick Ryder, told journalists at a briefing on Thursday. He spoke after US President Joe Biden warned that the risk of a nuclear conflict is at the highest level since the Cuban Missile Crisis of 1962. For now, the US does not possess any information that would warrant a change in its “strategic deterrence posture,” Ryder said, adding that Washington will continue to closely monitor the situation, as it takes Russia’s threats “very seriously.” On Friday, another Pentagon spokesman, J. Todd Breasseale, told Politico that the US still does not see any indication that Russia is preparing for a nuclear strike. “To be clear: we have not seen any reason to adjust our own strategic nuclear posture nor do we have indications that Russia is preparing to imminently use nuclear weapons,” he said.

#126 Yukon Elvis on 10.08.22 at 8:13 pm

#114 Brian on 10.08.22 at 6:53 pm
#108 crowdedelevatorfartz

I don’t think Putin is shaking in his boots. The counter offensive has now started. Starlink system was jammed by the Russians. I’m not rooting for either side, I just follow all sources. Lots of propaganda from the MSM. Remember the Weapons of Mass Distruction fiasco?
+++++++++++
Starlink was not jammed. Starlink was provided to Ukrainian controlled areas but not to Russian controlled areas. The Ukrainians moved out of their coverage areas when they advanced into Russian controlled areas according to sources on the ground there.

#127 DON on 10.08.22 at 8:28 pm

#61 baloney Sandwitch on 10.08.22 at 2:32 pm
Yet he keeps on winning and the con’s losing. Because the choice is between an irresponsible profligate generosity and a racist, environmentally unfriendly, and anti-science fascist.

******************
HOLY BAM!

Winner Winner Chicken Dinner.

‘If you build it, they will come’

#128 Macduff on 10.08.22 at 8:31 pm

Ryan,
You have made several important points. I am a lifelong Conservative voter, and many of the Liberal policies leave me cold. However I also believe that Pierre Polievre represents an even greater threat to the viability of this country. He espouses division, hatred and policies that are elementary in their thinking. I believe that the country will cease to exist within 10 years under his leadership. I personally have chosen to leave Canada after living there for 60 years as I have lost faith.

#129 Wrk.dover on 10.08.22 at 8:47 pm

Very depressing topic. Unless your name is Trudeau.

Furz’s story about property taxes is equally sad, A guy that is trying to get just 10% richer before retirement to the E Coast, while E coast properties double in cost, portfolios tank, and cost of earning goes up/net goes down!

Furz is probably a year behind per each new year worked now that Trudeau has plucked the loon bare.

Carrot on a stick Furz.

Some glad I like living on air!

#130 THE DANDADA on 10.08.22 at 9:20 pm

BUT if not trudeau…..THEN WHO!

#131 Bluebird on 10.08.22 at 9:34 pm

Great blog Ryan !

#132 Flop… on 10.08.22 at 9:48 pm

So no one told me the other day I was crazy for mentioning that Duncan B.C looked like a reasonable place to retire.

So, you’re saying there’s a chance!

I know there’s been a huge run-up in real estate on the island but I thought I’d look at the cheapest detached listings just for historical reference.

This is the first one I could see myself pottering around the workshop in with grey hair and a bad back.

https://www.rew.ca/properties/4562921/921-trunk-road-duncan-bc#

600k, it wouldn’t make any sense for a guy like me to even consider buying such a place unless it was 50% cheaper, when I’m eligible to retire in places like, Australia, New Zealand and Fiji.

How much will hammock rental in Fiji be going for in 15 years, is another thing that will get answered in time.

Just to give me a another point of reference, I started looking at rental prices in Duncan and came across this message on the local Facebook page.

https://www.facebook.com/groups/994238737284400/

I can’t be stealing housing from Olympic athletes, so I’ll just stay out of it for now.

By the way, do you guys say potter around, or putter around…

M48BC

#133 Robert Ash on 10.08.22 at 10:12 pm

So many future payments, and not much to show for it, in terms of productive spending. I don’t know about you other steerage, folks, but our Money for a vaporous Making Groups feel better, ideas, is not how I want to be governed.

#134 Doug t on 10.08.22 at 10:19 pm

#108 fartz

Your not paranoid at all – it could very well happen and I will not be shocked if it does – sadly

#135 Doug t on 10.08.22 at 10:21 pm

#114 Brian

Yup

#136 Doug t on 10.08.22 at 10:31 pm

One more for the cause…

“It’s a big club, and you ain’t in it”

George Carlin

#137 Faron on 10.08.22 at 10:46 pm

#113 Sail Away on 10.08.22 at 6:35 pm

…always-functional Starlink…

LOL, no.

reported yesterday:

“Frontline Ukraine troops are reportedly enduring Starlink outages”

https://finance.yahoo.com/news/ukraine-starlink-outages-russia-elon-musk-173909699.html

Facts not your jam, are they Sailo?

#138 Dragonslayer on 10.08.22 at 11:09 pm

To the crazy guy who posts rants mocking Toronto sports teams on this blog, here, I’ll save you the trouble:

Yes, the Blue Jays gave up an 8-1 lead, pulling a hot pitcher too soon. And yes, they lost 10-9 ending their season.

Add this to the Leafs history of game 7 losses to the Bruins (and last year’s to TB) and I’m beginning to think there might be something to your posts. If ever a city was cursed when it comes to sports…

There, done in a calm manner. No capital letters or exclamation marks needed. Point made.

And hope Springer is ok.

#139 Faron on 10.08.22 at 11:34 pm

#120 Flop… on 10.08.22 at 9:48 pm

I lived in Duncan for a few years and really liked it. We were close to the river on the bluff, SW side. Amazingly bad traffic for a small town because it all gets squeezed over two bridges. So, live where you work or near it. Trained for my first 50 miler by running up and down (yoyoing) Mad Dog on Tzouhalem. Really great place to be. The downtown is cute.

#140 Paul on 10.08.22 at 11:36 pm

#115 Sail Away on 10.08.22 at 7:03 pm
Sadly, Arrivecan was totally and completely unnecessary, unless snarling up travelers was the goal. Hopefully the unnamed companies were Canadian so at least the firehosed money woud’ve stayed in the country.
————————————————————————————————

Oe of the main developers is/was Canadian they got 40 million!!
As of two days ago arrivecan was to be voluntary now it is nonexistent on the computers at the boarder.

#141 Overheardyou on 10.09.22 at 12:27 am

It’s easy to hand out money you haven’t earned. Even kids know that.

#142 I Agree on 10.09.22 at 3:10 am

#66 Faron on 10.08.22 at 2:53 pm

Why is it that Canadians should put any stock in the “analysis” that is produced by a “think tank” funded by the US of American owner of a US fossil fuel mega corporation? I would think that Canadians should be guiding Canadian policy. Do you disagree? To be clear, the Fraser Institute is funded in part by Charles Koch.

=====================================

I totally agree. Americans always have an agenda and their opinions are often highly suspect for their self-serving bias. For example, I know of an American living in Victoria whose “analysis” often consists of little more than caustic poo-flinging. Fortunately, no one puts any stock in this clown’s opinions, and why should they?

Say, where you from again Faron?

#143 Bguy1 on 10.09.22 at 6:38 am

“Don’t you aim to pay off your credit card debt and mortgage so you’ll have more cash flow to spend in the future? I’m not saying we need to pay it all off but wouldn’t it be better to balance the budget, use the surplus to pay off some debt so that 1) less money goes to paying the interest on the debt, 2) which in turn frees up the government to spend more on services and 3) provides us more flexibility in the future for when the next major downturn comes. – Ryan L”

Yes good points, but individuals and government are not the same. For instance, Canada has not paid off the money it borrowed during World War Two, yet here we all are: higher standard of living, wealthier as a society, etc. Is it possible that the debtors to the Feds don’t want their money back, and would rather collect the interest payment?

#144 Wrk.dover on 10.09.22 at 8:04 am

#132 Flop… on 10.08.22 at 9:48 pm
So no one told me the other day I was crazy for mentioning that Duncan B.C looked like a reasonable place to retire.
https://www.rew.ca/properties/4562921/921-trunk-road-duncan-bc#
_______________________________

That garage roof is going to collapse when Duncan gets two feet of wet snow, but the new gravel driveway sure hides all of the leaked oil. And the lawn…no mowing required, dead zone!

The price is only double most of not so remote Canada.
It seems very reasonable for Southern BC from reading this blog.

From what I have learned about you on this site, you can stop scratching your head while thinking about where to retire by simply asking your wife where you two are retiring.

She already knows.

#145 Work and Tumble on 10.09.22 at 8:40 am

DELETED

#146 crowdedelevatorfartz on 10.09.22 at 9:17 am

@#125 Brian.
“The US Defense Department does not believe that a Russian nuclear strike is imminent.”
++++
This would be the same US Intelligence organization that was just as shocked as the rest of the world when the Russian Communist govt toppled 25 years ago?

########################

@#130 Dandada
“BUT if not trudeau…..THEN WHO!”

+++++

Anyone…. else.
The country can’t afford another 4 years of this fiscal irresponsibility.
He and Butts would have us 2 trillion in debt and climbing and the dollar at 50 cents and falling.
Quite a legacy.
Nuke and pave the county’s finances so that Quebec has no option but to leave……hmmmm.

#147 Ponzius Pilatus on 10.09.22 at 9:21 am

#142 I Agree on 10.09.22 at 3:10 am
#66 Faron on 10.08.22 at 2:53 pm

Why is it that Canadians should put any stock in the “analysis” that is produced by a “think tank” funded by the US of American owner of a US fossil fuel mega corporation? I would think that Canadians should be guiding Canadian policy. Do you disagree? To be clear, the Fraser Institute is funded in part by Charles Koch.

=====================================

I totally agree. Americans always have an agenda and their opinions are often highly suspect for their self-serving bias. For example, I know of an American living in Victoria whose “analysis” often consists of little more than caustic poo-flinging. Fortunately, no one puts any stock in this clown’s opinions, and why should they?

Say, where you from again Faron?
—————————————-
I disagree.
And you misspelled “Sailo”.

#148 crowdedelevatorfartz on 10.09.22 at 10:22 am

@#144 Wrk.dvr
“From what I have learned about you on this site, you can stop scratching your head while thinking about where to retire by simply asking your wife where you two are retiring.”
++++
Next to your farmstead near Kejimkujik where the ticks are free and the hurricanes costly.

Personally I’d love living in Schubenacadie or Tatamagouche, or Musquodoboit………
Harder for the in-laws to spell when they’re sending Christmas cards.

#149 I don’t know on 10.09.22 at 10:23 am

I rarely say this, but not the best of posts by our weekender.

While the need for balance in life is solid advice, applying it to government balance sheets is not the same. Investing in the populace is good. And while an eye on total spending is prudent, the main focus is on where the funds are allocated for maximum use/benefit. As others have mentioned, relatively speaking, Canada is still in good shape.

Referring to federal workers, most of which being female and minorities barely earning a living wage, as “wasted spending” seems out of character. One only needs to look at the situation in Ontario with our nurses and the damage it is doing to see where that road leads.

I would tend to agree with mom on this one.

IDK

#150 Dharma Bum on 10.09.22 at 11:04 am

#128 MacDuff

I believe that the country will cease to exist within 10 years under his leadership.
——————————————————————————————————–

Then what?

Canada: The 51st State?

Bring it on.

Maybe we’ll get a Trader Joe’s and an In n Out Burger.

#151 IHCTD9 on 10.09.22 at 11:18 am

#132 Flop… on 10.08.22 at 9:48 pm
So no one told me the other day I was crazy for mentioning that Duncan B.C looked like a reasonable place to retire….

———

We say “putter” around.

600K is pretty rich still, 3600 monthly +++. Renting looks like a better deal at ~2400 by that Facebook page. You could always belt on your tools again and buy a junker in Prince Rupert :).

Hopefully prices keep nosediving, you’ve a few years to work yet. With any luck we got a decade of skidding RE ahead. But maybe not if Trudeau decides to “help” with 40 year mortgages or some other quack policy. He’ll likely make things worse somehow before 2025.

I’m still scanning the Northern Ontario MLS for a potential cash out landing pad in the future. Houses there will stay cheap as long as the resource industries have to fight Ottawa to do anything. I’ve seen repairable junkers up there go for under 20K.

#152 Dharma Bum on 10.09.22 at 11:20 am

#138 Dragon

Yes, the Blue Jays gave up an 8-1 lead, pulling a hot pitcher too soon. And yes, they lost 10-9 ending their season.
———————————————————————————————————

Toronto team sportsfans are ignorant lemmings.

They’re like the rats in an experiment where, after finding the cheese a few times in a certain spot, they keep going back to the same spot where they then receive an electric shock instead of cheese.

They still believe that the cheese will be there, so they keep returning, over and over, and over and keep getting electrically shocked – until they die.

That’s Toronto team sports fans. Rats.

A Toronto team only ever has to win a championship once. Then their fans keep returning for endless choke losses – year, after year, after year, after year. (After year.)

Gluttons for punishment and stupid. What a combo!

#153 jess on 10.09.22 at 12:15 pm

mandatory due diligence.

A due diligence law must come with financial penalties to hit lawbreaking companies where it hurts – in their pocket.”

The companies themselves are best placed to identify and tackle these risks, and should therefore be required by law to prove that their business activities are not causing harms of this kind. We call this regulatory approach mandatory due diligence.A due diligence law must come with financial penalties to hit lawbreaking companies where it hurts – in their pocket.

We have one vision, a world free of corruption

Our global movement works in over 100 countries to end the injustice of corruption by promoting transparency, accountability and integrity.

“Every day, many harms are being perpetuated by companies which are little known to the public. For example, commodity traders that don’t sell directly to consumers, but who are the main drivers of destruction behind the scenes as intermediaries.

In any event, most consumers will only know of a handful of high-profile corporate misconduct cases. And modern supply chains are so bewilderingly complex that it’s highly impractical or downright impossible for people to do their own research into the ethical implications of a product’s origins before putting it in their shopping basket.”

https://www.globalwitness.org/en/blog/how-can-we-hold-companies-responsible-damage-they-cause/

fair weighted sacks ?
https://www.taxfairness.ca/en

ExxonMobil’s actions are unacceptable. The integrity of the US financial system relies on companies to report their financial condition and assets accurately,”

https://www.cnn.com/2022/10/08/business/exxon-wall-street-journal-labor-department/index.html
=====================
crowding out?
https://violationtracker.goodjobsfirst.org/

Over 90% of Canadians support making it more difficult for corporations to book profits in tax havens.

looking back 2010
https://www.motherjones.com/politics/2010/01/joseph-stiglitz-wall-street-morals/
“We have created a society in which materialism overwhelms moral commitment, in which the rapid growth that we have achieved is not sustainable environmentally or socially, in which we do not act together to address our common needs. Market fundamentalism has eroded any sense of community and has led to rampant exploitation of unwary and unprotected individuals. There has been an erosion of trust — and not just in our financial institutions.
https://www.businessinsider.com/stiglitz-americas-ersatz-capitalism-is-a-joke-2010-1

lemon socialism
https://en.wikipedia.org/wiki/Lemon_socialism

https://www.investopedia.com/terms/p/privatizing-profits-and-socializing-losses.asp

research
https://gairdner.org/2022-canada-gairdner-awards-recognize-world-renowned-scientists-for-transformative-contributions-to-research-impacting-human-health/
============
BIG -yes indeed as this takes international collaboration

international collaboration
why would you diminish the importance of this ?
this is an effort for The Access to COVID-19 Tools (ACT) Accelerator, is a groundbreaking global collaboration to accelerate development, production, and equitable access to COVID-19 tests, treatments, and vaccines.

Launched at the end of April 2020, at an event co-hosted by the Director-General of the World Health Organization, the President of France, the President of the European Commission, and the Bill & Melinda Gates Foundation, the Access to COVID-19 Tools (ACT) Accelerator brings together governments, scientists, businesses, civil society, and philanthropists and global health organizations (the Bill & Melinda Gates Foundation, CEPI, FIND, Gavi, The Global Fund, Unitaid, Wellcome, the WHO, and the World Bank). Following the ACT-Accelerator launch, UNICEF and PAHO became delivery partners for COVAX, the vaccines pillar.

These organizations have joined forces to speed up an end to the pandemic by supporting the development and equitable distribution of the tests, treatments and vaccines the world needs to reduce mortality and severe disease, restoring full societal and economic activity globally in the near term, and facilitating high-level control of COVID-19 disease in the medium term.

The Access to COVID-19 Tools (ACT) Accelerator, is a groundbreaking global collaboration to accelerate development, production, and equitable access to COVID-19 tests, treatments, and vaccines.

Launched at the end of April 2020, at an event co-hosted by the Director-General of the World Health Organization, the President of France, the President of the European Commission, and the Bill & Melinda Gates Foundation, the Access to COVID-19 Tools (ACT) Accelerator brings together governments, scientists, businesses, civil society, and philanthropists and global health organizations (the Bill & Melinda Gates Foundation, CEPI, FIND, Gavi, The Global Fund, Unitaid, Wellcome, the WHO, and the World Bank). Following the ACT-Accelerator launch, UNICEF and PAHO became delivery partners for COVAX, the vaccines pillar.

These organizations have joined forces to speed up an end to the pandemic by supporting the development and equitable distribution of the tests, treatments and vaccines the world needs to reduce mortality and severe disease, restoring full societal and economic activity globally in the near term, and facilitating high-level control of COVID-19 disease in the medium term.

Since April 2020, the ACT-Accelerator partnership, launched by WHO and partners, has supported the fastest, most coordinated, and successful global effort in history to develop tools to fight a disease. With significant advances in research and development by academia, private sector and government initiatives, the ACT-Accelerator is on the cusp of securing a way to end the acute phase of the pandemic by deploying the tests, treatments and vaccines the world needs.
ACT-Accelerator’s new website launched

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#154 Tim on 10.09.22 at 12:35 pm

I make over $100k ($200k household) and am happy to pay the tax rate for my bracket, or more, if it means a society where people’s basic needs are taken care of. We spent three decades pretending that the market alone can and should make the decisions. It was a disaster for anyone it didn’t enrich.

The only thing that ruins the present moment for me is the knowledge that the financialization of housing that drove prices through the roof–even before COVID, and even at the numbers interest rates are now forcing them back down to–has destroyed the calm, easygoing society we enjoyed in the 1990’s. Gone are the days that an artist or musician or just all-around interesting eccentric could afford to live on minimum wage, doing interesting things that enrich the rest of our lives, instead of grubbing for the highest-paying hustle they can get.

When everything is turned into money, money can’t buy anything.

With apologies to the Beatles: The best things in life were free/’til they got turned into commodities….

#155 Moses71 on 10.09.22 at 10:00 pm

Oh well Trudeau is in his 50s and looks better than ANY other guy in his 50s
Including everyone in this blog. People like looks, maybe?

#156 Ryan Wilson on 10.09.22 at 11:23 pm

To the left? You sir need a history lesson. Treudau is NOT the left.

#157 DOWn on 10.10.22 at 3:34 am

How did Trudeau accumulate so much wealth?

#158 David W2 on 10.10.22 at 6:45 am

Seems like the government is right sizing due to years of austerity and the coming wave of retirements. There’s a need to retain the next generation who will deliver the great social programs we’ve come to rely on.

#159 Exodus 2020 on 10.10.22 at 10:16 am

It’s a great strategy of a government to grow staffing and funding levels in their portfolio, because when they are no longer in power and the successor makes drastic cuts that impact jobs and families it gives a lot of ammo for the opposition to debate.