Canada's Economy vs them Others

Discussions regarding the world financial crises
Knuckle

Canada's Economy vs them Others

Post by Knuckle » Mon Apr 21, 2014 4:03 pm

Not my field but here's what an economist says:




Knuckle

Re: Canada's Economy vs them Others

Post by Knuckle » Tue Apr 22, 2014 3:27 am

Consider that the US is 17 Trillion dollars in debt while Canada is only 1.4 Trillion in debt. Since the US has 10 times the population in comparison to Canada, our debt load per capita is almost as bad. The good thing is that we haven't printed so much money as to deflate our dollar as yet(although we are selling off all our natural resources..our kid's inheritance).

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Antsy
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Re: Canada's Economy vs them Others

Post by Antsy » Tue Apr 22, 2014 5:48 am

You are comparing Canada's combined federal and provincial government debt with the US federal debt. Our federal debt is approximately $695 billion vs. the stated $17 trillion that our neighbours enjoy. That is not to say that Canadians aren't saddled with the quoted $1.4 trillion, rather that the US number would be proportionately higher as well. Then consider the civic debt.

So what does it all mean? Are we really borrowing this money on the backs of our children? How many generations of Egyptian tradesperson did it take to pay off the pyramids? Who remembers and who cares?

The numbers are so large it is hard to imagine what it all means. The creditors are faceless and we do not receive the calls from their accounts receivable departments begging us not to file chapter 21 on their chits. I don't think that the majority of us even conceive what a government default would look like. No more ccp - oas - ei - or govt' funded pensions for one! Cops, soldiers, and health care workers would continue to be paid to the bitter end, (as would the scoundrels we elect to office) while school teachers, and paper pushers would quickly fall to the axe. Don't imagine for a second though that some foreign government would roll in to repossess the furniture. Not if it means taking responsibility for the mess left behind. What I do know is that our creditors do not want us to fail and will carry us as long as it takes to ensure that they are not left holding the bag.
Needs must when the devil drives.

thecrownsown
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Canada
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Re: Canada's Economy vs them Others

Post by thecrownsown » Tue Apr 22, 2014 2:18 pm

Federal budget will be balanced and back in the black in 2015. Even with a slow growing economy, Canada will stop spending more than it takes in.

I'm not saying everything is rosey...but we are in way better shape than our neighbours to the south. And they are not in as bad a shape as prepper forums love to paint them. :)

Youtube videos...theres one for everything out there. :)
https://www.internationalpreppersnetwork.net/viewtopic.php?f=57&t=7738

Knuckle

Re: Canada's Economy vs them Others

Post by Knuckle » Tue Apr 22, 2014 2:25 pm

Thanks Antsy, for pointing out some unseen angles for the rest of us to get a better perspective. As stated earlier, this is not an area I understand well and all I can do is hopefully try to sort out enough to determine immediate probable effects on my region. When I read that Canada now has the most overpriced housing market and it too faces a likely "readjustment", I can only imagine how many will lose their life's savings.

In my area, taxes increased this last year by as much as 50%. This was achieved by using multiple methods, one of which the municipality simply increased many property's values. Ontario Hydro has increased 20+% and natural gas is easily equivalent. I don't know what the south is like, but us northerners now await these extra costs to trickle down to others businesses and watch hyperinflation increase the price of everything.

It seems that every time the private sector takes over possession of a limited resource, greed isn't far behind. It's not a foreign power that is likely to repossess your property, but some rich banker or investor, whose likely dream is to have you and yours serving them much as the slaves of old. Cutting back is something only the common folk do.

Knuckle

Re: Canada's Economy vs them Others

Post by Knuckle » Tue Apr 22, 2014 2:58 pm

It's hard to believe stats that are presented by our government in the best of times as they always have to present themselves as "in control" or we'd replace them now instead of later. Getting into the BLACK is always achieved by raising taxes...and politicians perform cutbacks with their left hand while raising their own budgets with their right...and at the end of their term, they finally perform one simple promise they made( back when they were trying to get elected), in hopes your dumb enough to give them another chance.

As you may have noted by now, I have little faith in our government. Some helped elect Harper and it wasn't me! I wanted the gun registry dropped, but noting he promised something to everyone's benefit, young and old alike, it seemed a sham. And the registry was dropped only after threatening everyone multiple times to "register now, your last chance"(and they now make us sign for bullets as a new tracking method instead). At least John Chretian said no to the Iraq invasion and never had to deal with the aftertaste of shoe polish!

thecrownsown
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Re: Canada's Economy vs them Others

Post by thecrownsown » Tue Apr 22, 2014 6:27 pm

So I see this is more about your personal socialist views that anything else. That helps me take it in perspective.
:)

As one of those greedy caplitalists who fund your gloated socialist endevaurs...your welcome. lol
https://www.internationalpreppersnetwork.net/viewtopic.php?f=57&t=7738

Knuckle

Re: Canada's Economy vs them Others

Post by Knuckle » Tue Apr 22, 2014 8:15 pm

I have never wasted much time on politics and that is likely the folly of us most Canadians. We don't like those in power but never took the time to vote the proper one in. The last couple rounds I finally did vote, so I now feel more justified in complaining 8-) ....

Since I voted NDP, I'd say a democrat is more to my liking. We were always taught in our youth that "socialism was Russia" and therefore bad! Much later we finally note that democracy seems to walk hand in hand with capitalism. Greed has many names, yet the Russian's always made note to point out this connection(which seems to have been more obvious to them than to us) while we denied it.

Show me a battle today that a union has won for the people...that hasn't occurred in such a long time as unions are losing power to new legislation that supports industry. Hiring agencies are becoming the norm so companies can dump employees (without hassle as to their individual rights) because they are considered "temporary". Job security is all that any of us wants anymore as we see our society failing. Free trade was another folly and in retrospect, it did nothing again but to support the rich. I mainly voted NDP because it seemed the lesser of the evils and Jack Leyton had the US pissed when he suggesting how to deal with their restrictions and penalties for the wood industry....seems he wasn't Bought YET!



A wiseman(or some smarta$$) once said:
"Always remember that when you point a finger at someone, that more fingers remain pointing at you"!

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cernunnos5
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Re: Canada's Economy vs them Others

Post by cernunnos5 » Tue Apr 22, 2014 9:10 pm

The socialist policy I would most like to see abolished is...highway, road and infrastructure maintenance. I think that would solve most of the worlds problems right there. Why the hell should I be forced to pay for some commie to drive an hour into work each day so he can live some place pretty. Why should I have to pay so some one that refuses to work at a real job like gardening so they can have a tomato in January. I cant even have a tomato for several months.

Then there is the big money. Corporate welfare.

Then there is the biggest socialist rip off around. The military. The ultimate collective. Give up your rights. Take orders from your benevolent betters and you will be fully taken care of. Then they wine into their old age as gimi gimies.
Of course the other option is capitalist, for profit , privatised armies. Its a growth industry that pays bonuses to its CEOs and dividends to the stock holders. What could possibly go wrong?
I have a Tactical Harness and I have a Tool Belt. The Tool Belt is more Useful.

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Antsy
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Re: Canada's Economy vs them Others

Post by Antsy » Tue Apr 22, 2014 9:45 pm

thecrownsown wrote:Federal budget will be balanced and back in the black in 2015. Even with a slow growing economy, Canada will stop spending more than it takes in.

I'm not saying everything is rosey...but we are in way better shape than our neighbours to the south. And they are not in as bad a shape as prepper forums love to paint them. :)

Youtube videos...theres one for everything out there. :)
While the feds may claim to 'balance the budget', it is a far cry from being out of the red. A balanced budget simply means that you are not spending more than you are taking in; not that your debts are paid off. I did watch the video that Knuckles linked to and found it to be relatively balanced in its approach. It was not alarmist and referred to many graphs and charts provided by the gov't (if the speaker is to be believed). The speaker points out where we as a people are hemorrhaging cash and suggests that it is probably not a sustainable model going forward. To that end, I don't disagree. There is no magic pill or policy that will get us out of the mess that we are in. Just like the individual who finds him or herself buried in debt; a solution will include some really uncomfortable decisions and will upset a lot of people. I personally don't see any of the required leadership or determination from anyone in Ottawa or the provincial capitals to take on this problem (any more than the other pressing issues facing the world like climate change, or sustainability as an economic model). We are in for a rough ride in the decades to come.
Needs must when the devil drives.

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