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To listen to sockboy and his idea of government .... we have your backs, from day one, clear and transparent, budgets will balance themselves, respect for parliament, blah blah blah ...... the Canadia

As absurdity spreads, even liberals are rolling their eyes. Hold on now, I thought only white supremacists did that: Eyes roll as stressed Liberal staffers offered free yoga class led by Sop

FIANLLY ..... A JOB HE CAN DO!!    

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Yup, I would be watching for inflation. Honestly, I don't understand the mechanism by which it happens but it always does as radical social reforms gain traction.

Purchasing power becomes less, goods become scarce and more expensive, people rebel because of it which only further exasperates the situation (think blocking trains and the like).

Ya, it's a dumb grunt perspective, smart people always say "this was different" and in fairness, maybe it is. The result is always the same though so the mechanism doesn't matter to someone not smart enough to understand it anyway.... keep watching.

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https://financialpost.com/news/economy/a-stronger-than-expected-recovery-has-bank-of-canada-eyeing-interest-rate-hikes-in-second-half-of-2022

“Governing Council is more confident in the resilience of the economy,” Macklem said in a statement at the beginning of his quarterly press conference on April 21. “Canadian households and businesses are adapting to the virus, finding new ways to shop, serve customers and work remotely. More important still, the rollout of vaccines is progressing, and we expect better times ahead.”

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Living on ice cream dreams

There may be no treat Trudeau is unwilling to give

  • Calgary Herald
  • 22 Apr 2021
  • JOHN IVISON
img?regionKey=EzPNJc4RNDy6WTj2Quj1Gg%3d%3dBLAIR GABLE / REUTERS Prime Minister Justin Trudeau waits to cross the street in Ottawa before a news conference on Tuesday. Trudeau's promises of “modest, short-term deficits” have flown straight out the window, writes John Ivison.

Less than 24 hours after his government announced $143 billion in new spending, Justin Trudeau was asked about provincial demands for more health-care transfers.

“We have committed that we will increase transfers to the provinces — recurring and long-term .... We look forward to discussions about how we can make more investments in the long-term,” he told reporters.

Those comments should prompt concerned Canadians to question the compulsive nature of the prime minister's urge to spend other people's money.

I'm not a doctor but, having spent 20 minutes researching on the Internet, I feel confident in my diagnosis: political oniomania — the uncontrollable desire to improve your self-esteem, your status and your prospects of re-election by offering voters cake and ice cream, then allowing them to come back for ice cream and cake.

How else to explain setting the nation on a course for a federal net debt of $1.5 trillion one day and deciding that's not enough the next?

We can imagine the prime minister's mindset; the boost to his serotonin and dopamine levels as he exploded all the assumptions on which the 724-page document is based by committing to health care transfers, which the provinces would like to see amount to an additional $28 billion a year.

We can imagine tabling a budget that achieves record deficits brought him temporary relief. At Liberal caucus on Wednesday, MPS cheered him, basking in the happiness afforded by access to cheap credit.

We can conclude that nothing improves his mood like telling Canadians that his government has their back, even if he has been advised that, technically speaking, because all the money is borrowed, it is the next generation that has their backs.

We can be assured that he resents the criticism that his government is unable to make hard choices. What his critics don't appreciate is that, when he was presented with the choice between increasing Old Age Security for seniors 75 plus by 10 per cent and giving those same seniors a $500 one-time payment the month before a likely election, he DID make a choice: he chose to give them both. After all, they belong to the silent generation that survived the long postwar boom years and now sit on net worth quadruple that of the under-35s taxpayers, who will never own their own homes.

We can surmise that blowing the budget doesn't give him the same satisfaction that it did before. There was immediate personal gratification in his announcement in 2015 that a Liberal government would record “modest, short-term” deficits of less than $10 billion over two fiscal years, after which the budget would be balanced in year four and the debt-togdp ratio would be 27 per cent. Even a deficit of $354 billion and a debt to GDP ratio double that level is unlikely to yield the same sense of euphoria. And how do you top that window of opportunity?

Fortunately for the prime minister, the NDP has a few projects that could get his neurotransmitters buzzing — a guaranteed basic income could cost about $84 billion a year for the basic model, or $197 billion to do it properly. Or how about national pharmacare, a snip at around $32 billion? At that price, we can't afford not to.

Sources suggest Trudeau has told close advisers that they are getting anxious over nothing because he just read about something called “inflation” that shrinks the debt over time like the movie about the scientist who accidentally shrinks his kids.

He told friends that Britain has only just paid off the 1720 South Sea Bubble and the Napoleonic wars, as part of payments on a four per cent consolidated loan. “My great-grandson will be prime minister before we have to pay any of it back,” he may have said.

When it was explained to him that Britain has been paying four per cent in “interest” to investors for the past 100 years, the prime minister is said to have turned white and convened a meeting of cabinet's special spending committee.

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Two headlines...tit for tat.....Justin’s incompetence will forever haunt Canada.


“Canada suspends flights from India, Pakistan due to COVID-19 variant concerns”

 

“ India suspends vaccine exports as cases skyrocket, stalling Canadian deliveries”

 

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Looks like déjà vu all over again.......think SNC strategy:

Quote

Prime Minister Justin Trudeau says he did not personally know of any allegation against Gen. Jonathan Vance after one was shared with his office in 2018.

In a press conference on Tuesday, Trudeau was asked to clarify comments that have been made by his office over the past month and a half regarding who knew what when about the 2018 allegation shared with Defence Minister Harjit Sajjan by the then-military ombudsman.

https://globalnews.ca/news/7728603/justin-trudeau-jonathan-vance-2018-allegation/


Now, digging a little deeper and under testimony, a former senior staffer indicates that Trudeau’s chief of staff was aware in 2018, ......ya probably just slipped her mind bringing up this little nugget to justy.

https://www.ctvnews.ca/video?clipId=2188150

 

But why would Canadians care whether their leader lies to them? Apparently, liberals don’t think it’s a big issue for the electorate.

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45 minutes ago, st27 said:

But why would Canadians care whether their leader lies to them? Apparently, liberals don’t think it’s a big issue for the electorate.

The electorate doesn't care - they re-elected Sockboy and will do it again.  (I will admit having O'toole as the option doesn't help).

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Posted (edited)

A tweet from Trudeau in 2009 complaining about Harper.

 

Yet today  HIS government shakes at the thought of standing up to China and the Uighurs 'genocide'

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Edited by Jaydee
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https://www.bnnbloomberg.ca/s-p-maintains-aaa-rating-on-canada-despite-historic-deficits-1.1595533

S&P maintains AAA rating on Canada despite historic deficits

In a report late Monday afternoon, S&P said it was affirming its top-notch rating with a stable outlook because "Canada's public finances were well positioned entering the pandemic, enabling a strong policy response to contain its negative effects without weakening sovereign creditworthiness."

 

"Although fiscal and debt metrics are weaker, we believe that the government's use of its policy flexibility moderated the economic and labour market effects of the pandemic. This deviation from the government's fiscal profile does not offset Canada's structural credit strengths, in our view."

In its report, S&P said it expects Canada's gross domestic product to expand by 5.5 per cent this year, before slowing to gains of 2.4 per cent next year and 2.8 per cent in 2023. By contrast, the Bank of Canada is forecasting growth of 6.5, 3.7 and 3.2 per cent, respectively, in the next three years.

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Ok Deicer, I read your link, now I raise you a link....😉 

from your BNN link, listen to the segment that is titled “criminal the degree of reckless spending” specifically around the 2:30 mark.

Its fine the bond rating agency has maintained its rating on Canadian debt levels...that just means they are confident Canada won’t default..but how does Canada prevent that?? They pay interest rates on the debt, interest rates they have no control over. So, will Justin cut programs  or taxes go up......you know the answer to that one.

And just to finish off, from the same article you quoted:

Quote

BS&P warned on Monday that it could potentially downgrade the country's credit rating in the next couple of years if the government's weakened fiscal health becomes "significantly more severe and prolonged than we anticipate".

With Trudeau’s record on budgets deficits so far, who do you trust?

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