Author Topic: Government Day-to-Day  (Read 53418 times)

0 Members and 9 Guests are viewing this topic.

Offline JMT

  • Administrator
  • Full Member
  • *****
  • Posts: 3462
  • Location: Waterhen, Manitoba
Re: Government Day-to-Day
« Reply #1020 on: December 04, 2020, 09:42:56 am »
Actually when you factor in all government debt, we don’t look that great in comparison. We were 89% three years ago, about the same as the UK. God only knows what it will be when this is over.

We don’t look good on general government gross debt. We still have the best general government net debt position.

Offline wilber

  • Administrator
  • Full Member
  • *****
  • Posts: 9121
Re: Government Day-to-Day
« Reply #1021 on: December 04, 2020, 11:55:36 am »
We don’t look good on general government gross debt. We still have the best general government net debt position.

Still, gross debt is what has to be serviced by tax payers, unless you are going to sell off assets. We are still much higher than Australia and all the Scandinavian countries.
"Never trust a man without a single redeeming vice" WSC

Offline waldo

  • Full Member
  • ***
  • Posts: 8715
Re: Government Day-to-Day
« Reply #1022 on: December 04, 2020, 12:35:21 pm »
We used to be the fiscal envy of the G7.  Then Trudeau was elected.

no - per your norm, you're woefully uninformed


Offline JMT

  • Administrator
  • Full Member
  • *****
  • Posts: 3462
  • Location: Waterhen, Manitoba
Re: Government Day-to-Day
« Reply #1023 on: December 04, 2020, 12:41:15 pm »
Still, gross debt is what has to be serviced by tax payers, unless you are going to sell off assets. We are still much higher than Australia and all the Scandinavian countries.

Debt servicing costs are projected to increase to a whopping 1.2% of GDP by 2026.

Offline wilber

  • Administrator
  • Full Member
  • *****
  • Posts: 9121
Re: Government Day-to-Day
« Reply #1024 on: December 04, 2020, 12:43:13 pm »
Debt servicing costs are projected to increase to a whopping 1.2% of GDP by 2026.

If interest rates stay at 1%. I don't know how you can say that when we are going to add at least another 120 billion to the debt in 2021 with no end in sight.
"Never trust a man without a single redeeming vice" WSC

Offline JMT

  • Administrator
  • Full Member
  • *****
  • Posts: 3462
  • Location: Waterhen, Manitoba
Re: Government Day-to-Day
« Reply #1025 on: December 04, 2020, 01:00:41 pm »
If interest rates stay at 1%. I don't know how you can say that when we are going to add at least another 120 billion to the debt in 2021 with no end in sight.

Interest rates have generally been pretty predictable, looking at the charts.

Offline Queefer Sutherland

  • Hero Member
  • *****
  • Posts: 10193
Re: Government Day-to-Day
« Reply #1026 on: December 04, 2020, 01:27:54 pm »
Actually when you factor in all government debt, we don’t look that great in comparison. We were 89% three years ago, about the same as the UK. God only knows what it will be when this is over.

600%
"Nipples is one of the great minds of our time!" - Bubbermiley

Offline Queefer Sutherland

  • Hero Member
  • *****
  • Posts: 10193
Re: Government Day-to-Day
« Reply #1027 on: December 04, 2020, 01:33:07 pm »
Interest rates have generally been pretty predictable, looking at the charts.

Let's keep kissing the ass of the Saudi's and we might be ok.

"Nipples is one of the great minds of our time!" - Bubbermiley

Offline JMT

  • Administrator
  • Full Member
  • *****
  • Posts: 3462
  • Location: Waterhen, Manitoba
Re: Government Day-to-Day
« Reply #1028 on: December 04, 2020, 01:50:30 pm »
Let's keep kissing the ass of the Saudi's and we might be ok.



That was a relative anomaly in the lounger frame though, right?
Winner Winner x 1 View List

Offline Squidward von Squidderson

  • Full Member
  • ***
  • Posts: 5630
Re: Government Day-to-Day
« Reply #1029 on: December 04, 2020, 03:10:12 pm »
Let's keep kissing the ass of the Saudi's and we might be ok.

What do the Saudis have to do with it?
Dumb Dumb x 1 View List

Offline Queefer Sutherland

  • Hero Member
  • *****
  • Posts: 10193
Re: Government Day-to-Day
« Reply #1030 on: December 04, 2020, 03:56:46 pm »
That was a relative anomaly in the lounger frame though, right?

Looks like it.
"Nipples is one of the great minds of our time!" - Bubbermiley

Offline Queefer Sutherland

  • Hero Member
  • *****
  • Posts: 10193
Re: Government Day-to-Day
« Reply #1031 on: December 04, 2020, 03:57:32 pm »
What do the Saudis have to do with it?

Not specifically Saudis, but middle east oil.
"Nipples is one of the great minds of our time!" - Bubbermiley

Offline Squidward von Squidderson

  • Full Member
  • ***
  • Posts: 5630
Re: Government Day-to-Day
« Reply #1032 on: December 04, 2020, 03:59:43 pm »
Not specifically Saudis, but middle east oil.

What does mid-east oil have to do with Canada’s interest rate?
Dumb Dumb x 1 View List

Offline eyeball

  • Full Member
  • ***
  • Posts: 1140
Re: Government Day-to-Day
« Reply #1033 on: December 04, 2020, 04:26:04 pm »
Actually when you factor in all government debt, we don’t look that great in comparison. We were 89% three years ago, about the same as the UK. God only knows what it will be when this is over.
Whatever it is everyone will be in the same boat but just arguing they're in different oceans.

Offline Queefer Sutherland

  • Hero Member
  • *****
  • Posts: 10193
Re: Government Day-to-Day
« Reply #1034 on: December 04, 2020, 04:29:21 pm »
What does mid-east oil have to do with Canada’s interest rate?

Oil is the life-blood of our economy.  If the price of oil rises, so does the cost of making/buying products, which is called inflation.  When there is significant inflation, the feds raise interest rates to stop it.  This isn't theory as it already happened in Canada:

https://en.wikipedia.org/wiki/Early_1980s_recession

"The early 1980s recession was a severe economic recession that affected much of the world between approximately the start of 1980 and early 1983.[1] It is widely considered to have been the most severe recession since World War Two.[2][3] A key event leading to the recession was the 1979 energy crisis, mostly caused by the Iranian Revolution which caused a disruption to the global oil supply, which saw oil prices rising sharply in 1979 and early 1980.  The sharp rise in oil prices pushed the already high rates of inflation in several major advanced countries to new double-digit highs, with countries such as the United States, Canada, West Germany, Italy, the United Kingdom and Japan tightening their monetary policies by increasing interest rates in order control the inflation. These G7 countries each, in fact, had "double-dip" recessions involving short declines in economic output in parts of 1980 followed by a short period of expansion, in turn followed by a steeper, longer period of economic contraction starting sometime in 1981 and ending in the last half of 1982 or in early 1983.[4] Most of these countries experienced stagflation, a situation of both high interest rates and high unemployment rates.

Globally, while some countries experienced downturns in economic output in 1980 and/or 1981, the broadest and sharpest worldwide decline of economic activity and the largest increase in unemployment was in 1982, with the World Bank naming the recession the "global recession of 1982."[1] Even after major economies, such as the United States and Japan exited the recession relatively early, many countries were in recession into 1983 and high unemployment would continue to affect most OECD nations until at least 1985.[2] Long-term effects of the early 1980s recession contributed to the Latin American debt crisis, long-lasting slowdowns in the Caribbean and Sub-Saharan African countries,[1] the US savings and loans crisis, and a general adoption of neoliberal economic policies throughout the 1980s and 1990s.
"
"Nipples is one of the great minds of our time!" - Bubbermiley