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

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Offline wilber

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Re: Government Day-to-Day
« Reply #585 on: August 27, 2020, 07:26:48 pm »
Fitch really needs to stop interfering in internal Canadian politics. No one believes that there's any chance that Canada would default on Canadian dollar debt.

Sorry but if your debt to GDP doesnít qualify you for a triple A rating, you donít get one.
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Offline JMT

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Re: Government Day-to-Day
« Reply #586 on: August 27, 2020, 07:49:59 pm »
Sorry but if your debt to GDP doesnít qualify you for a triple A rating, you donít get one.

If that's true, the US shouldn't have one.

Offline wilber

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Re: Government Day-to-Day
« Reply #587 on: August 27, 2020, 10:18:21 pm »
If that's true, the US shouldn't have one.

Depends on the agency. It doesn't with some.
« Last Edit: August 27, 2020, 10:20:41 pm by wilber »
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Offline JMT

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Re: Government Day-to-Day
« Reply #588 on: August 28, 2020, 08:44:17 am »
Depends on the agency. It doesn't with some.

It does with Fitch. That's the point. They're the ones obsessed with gross government debt (the others use the net numbers). The US owes 21% more of GDP than Canada, yet they keep a AAA. Canada is in no more danger of default than the US.

Offline wilber

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Re: Government Day-to-Day
« Reply #589 on: August 28, 2020, 09:43:12 am »
It does with Fitch. That's the point. They're the ones obsessed with gross government debt (the others use the net numbers). The US owes 21% more of GDP than Canada, yet they keep a AAA. Canada is in no more danger of default than the US.

Ratings are subjective that is why there are so many and they donít agree. Fitch is concerned with Canadaís ability to maintain and support that level of borrowing. So am I.

When Harper borrowed 55 billion During the financial crisis in 09/10, the world was coming to an end. Trudeau borrows five times that in 2020 and itís no big deal. It is a big deal.

Actually it is more like seven times 09/10.
« Last Edit: August 28, 2020, 10:47:41 am by wilber »
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Offline JMT

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Re: Government Day-to-Day
« Reply #590 on: August 28, 2020, 10:14:07 am »
When Harper borrowed 55 billion During the financial crisis in 09/10, the world was coming to an end. Trudeau borrows five times that in 2020 and itís no big deal. It is a big deal.

Neither is a big deal. Every country has been impacted similarly, and it's curious that Fitch has chosen Canada (and Australia) to single out over it.

Offline wilber

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Re: Government Day-to-Day
« Reply #591 on: August 28, 2020, 10:45:42 am »
Neither is a big deal. Every country has been impacted similarly, and it's curious that Fitch has chosen Canada (and Australia) to single out over it.

The debt has been increased by 50% in one year, it is reasonable to ask where it will end and will it be sustainable.
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Offline waldo

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Re: Government Day-to-Day
« Reply #592 on: August 28, 2020, 11:05:13 am »
Ratings are subjective that is why there are so many and they donít agree. Fitch is concerned with Canadaís ability to maintain and support that level of borrowing. So am I.



dang member wilber! Fitch Ratings downgraded their assigned rating for Canada... from Outstanding... to Excellent/Stable  ;D

now you do the rest of the G7 countries - yes?

Offline waldo

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Re: Government Day-to-Day
« Reply #593 on: August 28, 2020, 11:16:28 am »
c'mon waldo, by taking a snapshot from the Toronto SUN... you're just messin' with them, right?  ;D


Offline wilber

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Re: Government Day-to-Day
« Reply #594 on: August 28, 2020, 12:10:32 pm »


dang member wilber! Fitch Ratings downgraded their assigned rating for Canada... from Outstanding... to Excellent/Stable  ;D

now you do the rest of the G7 countries - yes?

I'm not concerned with the rest of the G7 countries, I'm concerned about my country.
"Never trust a man without a single redeeming vice" WSC

Offline waldo

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Re: Government Day-to-Day
« Reply #595 on: August 28, 2020, 01:19:02 pm »


dang member wilber! Fitch Ratings downgraded their assigned rating for Canada... from Outstanding... to Excellent/Stable  ;D

now you do the rest of the G7 countries - yes?
I'm not concerned with the rest of the G7 countries, I'm concerned about my country.

3 of the 4 major rating organizations maintain Canada's AAA rating... but you're concerned!  ;D I can also appreciate why your concern doesn't allow you to compare Canada to the other G7 countries - cause Canada, comparatively speaking, rates among the highest - yes?

Offline wilber

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Re: Government Day-to-Day
« Reply #596 on: August 28, 2020, 01:26:39 pm »
3 of the 4 major rating organizations maintain Canada's AAA rating... but you're concerned!  ;D I can also appreciate why your concern doesn't allow you to compare Canada to the other G7 countries - cause Canada, comparatively speaking, rates among the highest - yes?
So why are you and JMT getting all sweaty about being down graded by Fitch if everything is so rosy?
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Offline JMT

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Re: Government Day-to-Day
« Reply #597 on: August 28, 2020, 04:48:27 pm »
So why are you and JMT getting all sweaty about being down graded by Fitch if everything is so rosy?

Did you read their release, going on and on about left wing governments? It's bullshit.

Offline wilber

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Re: Government Day-to-Day
« Reply #598 on: August 28, 2020, 04:53:56 pm »
Did you read their release, going on and on about left wing governments? It's bullshit.
I did and I didnít see anything of the sort.
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Offline JMT

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Re: Government Day-to-Day
« Reply #599 on: August 28, 2020, 07:35:19 pm »
I did and I didnít see anything of the sort.

The Liberal Party, headed by Prime Minister Justin Trudeau, governs with only a minority of seats in parliament and relies on center-left and left-wing minority parties to pass legislation.

https://www.fitchratings.com/research/sovereigns/canadas-growing-deficit-raises-fiscal-consolidation-risks-27-08-2020

The **** business is that of theirs? And what does that have to do with budgets?