« previous next »
Pages: 1 ... 10 11 [12] 13

Author Topic: TECK FRONTIER pulls out  (Read 1895 times)

0 Members and 1 Guest are viewing this topic.

Offline Queefer Sutherland

  • Hero Member
  • *****
  • Posts: 10257
Re: TECK FRONTIER pulls out
« Reply #165 on: March 16, 2020, 11:35:31 pm »
Quote from: John Mark Taylor on March 16, 2020, 11:25:18 pm
I posted that tweet.  Along with this one, from someone else who knows more than you, or me:

https://twitter.com/LindsayTedds/status/1237877347916730368?s=20

Pierre Poilievre is a douche.
Logged
"Nipples is one of the great minds of our time!" - Bubbermiley

Offline Squidward von Squidderson

  • Full Member
  • ***
  • Posts: 5630
Re: TECK FRONTIER pulls out
« Reply #166 on: March 17, 2020, 12:05:36 am »
Quote from: COVID-19 Graham on March 16, 2020, 11:32:52 pm
I dunno man.  My province is broke and it's due to gross incompetence and corruption.  I'm not sure I want them to have more of my money.

Which province is “broke”?
Logged

Offline JMT

  • Administrator
  • Full Member
  • *****
  • Posts: 3462
  • Location: Waterhen, Manitoba
Re: TECK FRONTIER pulls out
« Reply #167 on: March 17, 2020, 12:09:07 am »
Quote from: the_squid on March 17, 2020, 12:05:36 am
Which province is “broke”?

None yet.  Manitoba and Newfoundland are in real trouble though.
Logged

Offline wilber

  • Administrator
  • Full Member
  • *****
  • Posts: 9165
Re: TECK FRONTIER pulls out
« Reply #168 on: March 17, 2020, 09:48:07 am »
Quote from: John Mark Taylor on March 16, 2020, 11:05:55 pm
That's exactly what the PBO said:

Current fiscal policy at the federal level is sustainable over the long term. To
maintain net debt at its current (2018) level of 28.5 per cent of GDP over the
long term, PBO estimates that the federal government could permanently
increase spending or reduce taxes by 1.8 per cent of GDP ($41 billion in
current dollars) while maintaining fiscal sustainability.

https://www.pbo-dpb.gc.ca/web/default/files/Documents/Reports/RP-1920-029-S/RP-1920-029-S_en.pdf

Where does it say permanent? 41 billion represents about 6% of the debt. To maintain the present debt to GDP, revenues would have grow at least 6% to maintain the present level. Adding 41 billion to the deficit forecast of last fall would add 66 billion or about 9.5% to the debt and revenues will be in hammered this year.

We could sustain that level of spending until our debt to GDP gets to an unsustainable level, not permanently.
Logged
"Never trust a man without a single redeeming vice" WSC

Offline JMT

  • Administrator
  • Full Member
  • *****
  • Posts: 3462
  • Location: Waterhen, Manitoba
Re: TECK FRONTIER pulls out
« Reply #169 on: March 17, 2020, 10:01:24 am »
Quote from: wilber on March 17, 2020, 09:48:07 am
Where does it say permanent?

Read it again, since the word permanently is literally there.
Logged
Agree Agree x 1 View List

Offline wilber

  • Administrator
  • Full Member
  • *****
  • Posts: 9165
Re: TECK FRONTIER pulls out
« Reply #170 on: March 17, 2020, 10:03:02 am »
Quote from: John Mark Taylor on March 17, 2020, 10:01:24 am
Read it again, since the word permanently is literally there.

Then they are idiots if they think and annual 6% growth in GDP and revenues is sustainable. When was the last time we had 6% growth?
Logged
"Never trust a man without a single redeeming vice" WSC

Offline JMT

  • Administrator
  • Full Member
  • *****
  • Posts: 3462
  • Location: Waterhen, Manitoba
Re: TECK FRONTIER pulls out
« Reply #171 on: March 17, 2020, 10:05:43 am »
Quote from: wilber on March 17, 2020, 10:03:02 am
Then they are idiots if they think and annual 6% growth in GDP and revenues is sustainable. When was the last time we had 6% growth?

The idea is that it would remain stable over the long term.  In the short term, debt to GDP would rise.  In the long term, GDP would catch up.  I don't advocate a permanent increase of $41B - what I'm saying is that there is significant room to deal with this crisis at the federal level, and anyone saying otherwise is ignorant and or fear mongering.
Logged

Offline wilber

  • Administrator
  • Full Member
  • *****
  • Posts: 9165
Re: TECK FRONTIER pulls out
« Reply #172 on: March 17, 2020, 10:06:59 am »
I have to hit the road but just a quick look at the report also includes this.

Quote
However, it remains the case that if the primary balance (relative to GDP) is smaller than the interest-growth rate differential multiplied by the debt-to- GDP ratio, the debt ratio will increase even if the differential is negative. Thus, a government could still face a fiscal cost (that is, having to increase revenues or reduce program spending) to maintain its debt-to-GDP ratio at its current level by having to run a smaller primary deficit relative to GDP.
Logged
"Never trust a man without a single redeeming vice" WSC

Offline wilber

  • Administrator
  • Full Member
  • *****
  • Posts: 9165
Re: TECK FRONTIER pulls out
« Reply #173 on: March 17, 2020, 10:08:55 am »
Quote from: John Mark Taylor on March 17, 2020, 10:05:43 am
The idea is that it would remain stable over the long term.  In the short term, debt to GDP would rise.  In the long term, GDP would catch up.  I don't advocate a permanent increase of $41B - what I'm saying is that there is significant room to deal with this crisis at the federal level, and anyone saying otherwise is ignorant and or fear mongering.

At what point is this government going to get its spending under control. It hasn't happened yet. I don't think you fully understand what this crisis is going to do to the economy and government revenues or how long it could take to recover.
Logged
"Never trust a man without a single redeeming vice" WSC

Offline JMT

  • Administrator
  • Full Member
  • *****
  • Posts: 3462
  • Location: Waterhen, Manitoba
Re: TECK FRONTIER pulls out
« Reply #174 on: March 17, 2020, 10:35:39 am »
Quote from: wilber on March 17, 2020, 10:08:55 am
At what point is this government going to get its spending under control. It hasn't happened yet. I don't think you fully understand what this crisis is going to do to the economy and government revenues or how long it could take to recover.

I don't think you understand.  A 10 or eve 15% increase in debt to GDP over the medium term wouldn't break Canada.
Logged

Offline wilber

  • Administrator
  • Full Member
  • *****
  • Posts: 9165
Re: TECK FRONTIER pulls out
« Reply #175 on: March 17, 2020, 05:13:22 pm »
Quote from: John Mark Taylor on March 17, 2020, 10:35:39 am
I don't think you understand.  A 10 or eve 15% increase in debt to GDP over the medium term wouldn't break Canada.

We will see that this year. Guaranteed.
Logged
"Never trust a man without a single redeeming vice" WSC

Offline JMT

  • Administrator
  • Full Member
  • *****
  • Posts: 3462
  • Location: Waterhen, Manitoba
Re: TECK FRONTIER pulls out
« Reply #176 on: March 17, 2020, 05:30:48 pm »
Quote from: wilber on March 17, 2020, 05:13:22 pm
We will see that this year. Guaranteed.

And we won't be the only ones.
Logged

Offline wilber

  • Administrator
  • Full Member
  • *****
  • Posts: 9165
Re: TECK FRONTIER pulls out
« Reply #177 on: March 18, 2020, 09:41:59 am »
Quote from: John Mark Taylor on March 17, 2020, 05:30:48 pm
And we won't be the only ones.

No we won't, the UK rescue package will amount to 15% of GDP. With GDP about to shrink drastically, that is probably optimistic.
Logged
"Never trust a man without a single redeeming vice" WSC

Offline JMT

  • Administrator
  • Full Member
  • *****
  • Posts: 3462
  • Location: Waterhen, Manitoba
Re: TECK FRONTIER pulls out
« Reply #178 on: March 18, 2020, 10:20:45 am »
Quote from: wilber on March 18, 2020, 09:41:59 am
No we won't, the UK rescue package will amount to 15% of GDP. With GDP about to shrink drastically, that is probably optimistic.

The Canadian package is $82B in addition to the $11B already announced.
Logged

Offline wilber

  • Administrator
  • Full Member
  • *****
  • Posts: 9165
Re: TECK FRONTIER pulls out
« Reply #179 on: March 18, 2020, 10:31:54 am »
Quote from: John Mark Taylor on March 18, 2020, 10:20:45 am
The Canadian package is $82B in addition to the $11B already announced.

Plus the 26 billion deficit that was forecast last year, or is Morneau doing a completely new Covid -19 budget.
Logged
"Never trust a man without a single redeeming vice" WSC
Pages: 1 ... 10 11 [12] 13
« previous next »