Author Topic: Government Day-to-Day  (Read 13996 times)

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Offline waldo

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Re: Government Day-to-Day
« Reply #135 on: February 04, 2020, 11:55:13 am »
I don't think there's any CPC supporters on this forum, myself included. If there were, what would be the point. If it doesn't align with Liberal Party policy you will reject it outright.

how copishOutish! Sorry, forgot you're a Greenie!

Offline wilber

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Re: Government Day-to-Day
« Reply #136 on: February 04, 2020, 02:26:33 pm »
It's no longer a mystery to me why Canadians are carrying the most household debt of any developed country and why so many of them are only a couple of weeks away from insolvency if their income is interrupted.

Hey, we can make the payments. Let's do it.
"Never trust a man without a single redeeming vice" WSC

Offline Gorgeous Graham

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Re: Government Day-to-Day
« Reply #137 on: February 04, 2020, 02:49:15 pm »
It's no longer a mystery to me why Canadians are carrying the most household debt of any developed country and why so many of them are only a couple of weeks away from insolvency if their income is interrupted.

Hey, we can make the payments. Let's do it.

It's not their fault they have so much debt, it's the evil corporations who take advantage of unsuspecting Canadians.

Being a few weeks away from insolvency isn't a problem because the government will always take care of us.  Saving money for when you need it is pretty dumb when you could take a nice vacation.
I can tell how good of a person you are by how you treat the people you disagree with.

Offline JMT

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Re: Government Day-to-Day
« Reply #138 on: February 04, 2020, 06:18:48 pm »
It's no longer a mystery to me why Canadians are carrying the most household debt of any developed country and why so many of them are only a couple of weeks away from insolvency if their income is interrupted.

Hey, we can make the payments. Let's do it.

Households are not analogous to government.
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Offline wilber

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Re: Government Day-to-Day
« Reply #139 on: February 04, 2020, 06:27:32 pm »
Households are not analogous to government.

You keep saying that in order to justify saddling future generations with debt you incur for your wants.
"Never trust a man without a single redeeming vice" WSC
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Offline wilber

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Re: Government Day-to-Day
« Reply #140 on: February 04, 2020, 07:14:26 pm »
squid doesn’t mind saddling future generations with his debt.
"Never trust a man without a single redeeming vice" WSC

Offline Omni

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Re: Government Day-to-Day
« Reply #141 on: February 04, 2020, 07:50:47 pm »
squid doesn’t mind saddling future generations with his debt.

Gov. investment in viable business is different that debt. I expect the returns from MC will show that to be true once again.

Offline wilber

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Re: Government Day-to-Day
« Reply #142 on: February 04, 2020, 08:03:00 pm »
Gov. investment in viable business is different that debt. I expect the returns from MC will show that to be true once again.
Good grief if you borrow money and don't pay it back, it is debt. It doesn't matter what you borrowed if for.
"Never trust a man without a single redeeming vice" WSC
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Offline Omni

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Re: Government Day-to-Day
« Reply #143 on: February 04, 2020, 08:48:50 pm »
Good grief if you borrow money and don't pay it back, it is debt. It doesn't matter what you borrowed if for.

Is the 50 mil borrowed, or from tax revenue?

Offline wilber

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Re: Government Day-to-Day
« Reply #144 on: February 04, 2020, 08:52:12 pm »
Is the 50 mil borrowed, or from tax revenue?

The 50 mil for MasterCard is neither here nor there. The point is we are borrowing money to pay interest on what we already owe.

Future generations will have billions of tax dollars going toward servicing debt we incurred and will get zero value for those dollars.
« Last Edit: February 04, 2020, 08:54:19 pm by wilber »
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Offline JMT

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Re: Government Day-to-Day
« Reply #145 on: February 04, 2020, 09:27:26 pm »
Future generations will have billions of tax dollars going toward servicing debt we incurred and will get zero value for those dollars.

Sure - but debt servicing costs are going down.

Offline wilber

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Re: Government Day-to-Day
« Reply #146 on: February 04, 2020, 09:49:21 pm »
Sure - but debt servicing costs are going down.

Debt servicing costs are a function of interest rates. Are you going to guarantee they won't go up in your children's and grand children's lifetimes?

In 1979 I took out a mortgage at 9%. Five years later I had to renew at 18% and a month later they went to 20%.
"Never trust a man without a single redeeming vice" WSC

Offline Omni

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Re: Government Day-to-Day
« Reply #147 on: February 04, 2020, 09:51:39 pm »

The 50 mil for MasterCard is neither here nor there. The point is we are borrowing money to pay interest on what we already owe.

Future generations will have billions of tax dollars going toward servicing debt we incurred and will get zero value for those dollars.

It is actually "here" since MC will spend 510 million and provide ~400 jobs in one of our major cities. Is that not a good investment of government tax funds? Or should it just be kept in the bank gathering dust?

Offline JMT

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Re: Government Day-to-Day
« Reply #148 on: February 04, 2020, 10:02:07 pm »
Debt servicing costs are a function of interest rates. Are you going to guarantee they won't go up in your children's and grand children's lifetimes?

In 1979 I took out a mortgage at 9%. Five years later I had to renew at 18% and a month later they went to 20%.

I can guarantee that as long as the economy is growing faster than the debt, the debt will get easier to handle.
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Offline wilber

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Re: Government Day-to-Day
« Reply #149 on: February 04, 2020, 10:16:57 pm »
I can guarantee that as long as the economy is growing faster than the debt, the debt will get easier to handle.

You can guarantee the economy will grow faster than the debt can you?

That's the thing, you could care less how much debt you saddle your kids with as long as you think they can handle it. But if they can't, well that will be their problem, not yours. It may be your fault but it won't be your problem.
"Never trust a man without a single redeeming vice" WSC