Author Topic: Your opinion of the 2019 election!  (Read 1938 times)

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Offline ?Impact

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Re: Your opinion of the 2019 election!
« Reply #480 on: November 14, 2019, 07:24:52 pm »
It's going down and not far from a recession.

We have had 2 negative quarters since the last recession, one in 2015 (Harper) and one in 2016 (Trudeau). I have no friggen idea what is on the horizon, and neither do you, and certainly those professional "economists" have a track record that proves they know less than both of us put together.

Online wilber

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Re: Your opinion of the 2019 election!
« Reply #481 on: November 14, 2019, 07:28:05 pm »
I don't disagree but I think the world is in big trouble... everyone has taken on debt betting on growth continuing and the ones who hold the debt are in bed with the ones who are in debt.

It feels very tenuous.

I'm at a point in my life where I'm debt free and a lender. I'd love rates to go up but that would be a disaster for so many people. When rates hit 20%, property values cratered and people were walking away from their homes because they weren't worth close to what they were mortgaged for. It wouldn't take anywhere near that today. We are indeed on shaky ground.
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Online wilber

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Re: Your opinion of the 2019 election!
« Reply #482 on: November 14, 2019, 07:30:14 pm »
We have had 2 negative quarters since the last recession, one in 2015 (Harper) and one in 2016 (Trudeau). I have no friggen idea what is on the horizon, and neither do you, and certainly those professional "economists" have a track record that proves they know less than both of us put together.

Debt is going up and growth is slowing down. The planet is only so big and can only provide so much, we are at a point now where we are burning through renewable resources much faster than the earth can renew them.
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Offline ?Impact

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Re: Your opinion of the 2019 election!
« Reply #483 on: November 14, 2019, 07:41:44 pm »
Debt is going up and growth is slowing down. The planet is only so big and can only provide so much, we are at a point now where we are burning through renewable resources much faster than the earth can renew them.

Agreed, that is a real recession we need to fear. Not this artificial economy that everyone is worked up about.

Online wilber

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Re: Your opinion of the 2019 election!
« Reply #484 on: November 14, 2019, 07:49:21 pm »
Agreed, that is a real recession we need to fear. Not this artificial economy that everyone is worked up about.

Deficits drive an artificial economy, they are a country living on credit.
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Offline MH

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Re: Your opinion of the 2019 election!
« Reply #485 on: November 17, 2019, 10:14:06 am »
Deficits drive an artificial economy, they are a country living on credit.

If we had the current deficit in an 'average' economy, I would be ok with it.  My understanding is the deficit covers infrastructure spending which is a good approach IMO

Online wilber

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Re: Your opinion of the 2019 election!
« Reply #486 on: November 17, 2019, 10:23:27 am »
If we had the current deficit in an 'average' economy, I would be ok with it.  My understanding is the deficit covers infrastructure spending which is a good approach IMO

Some of it but some is also to expand some social programs. As I have said many times, borrowing is not something I am completely against, it is the mentality that feels there is no obligation to ever pay it back, we will just pass the burden on to future generations. Gen Xers and Millennials have been critical of Boomers for doing that but it seems they haven't learned a damn thing from it.
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Offline MH

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Re: Your opinion of the 2019 election!
« Reply #487 on: November 17, 2019, 12:22:16 pm »
Some of it but some is also to expand some social programs. As I have said many times, borrowing is not something I am completely against, it is the mentality that feels there is no obligation to ever pay it back, we will just pass the burden on to future generations. Gen Xers and Millennials have been critical of Boomers for doing that but it seems they haven't learned a damn thing from it.

https://www.infrastructure.gc.ca/plan/about-invest-apropos-eng.html

$15B / year so you are generally right.  But $3B isn't much over $300B...

Online wilber

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Re: Your opinion of the 2019 election!
« Reply #488 on: November 17, 2019, 12:36:34 pm »
https://www.infrastructure.gc.ca/plan/about-invest-apropos-eng.html

$15B / year so you are generally right.  But $3B isn't much over $300B...

It is if you are doing it every year. In ten years 3B becomes 30B.

As the economy slows and NDP demands increase, those deficit numbers will look very good compared to reality.
« Last Edit: November 17, 2019, 12:42:07 pm by wilber »
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Online wilber

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Re: Your opinion of the 2019 election!
« Reply #489 on: November 17, 2019, 01:39:38 pm »
Trudeau has increased the debt by 64 billion in his first four years compared to 52 billion for Harper in his last four.  In 2016 the debt stood at 616 billion so that is more than a 10% increase in a supposedly strong economy. That doesn't bode well for the future.
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Offline Poonlight Graham

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Re: Your opinion of the 2019 election!
« Reply #490 on: November 17, 2019, 05:52:19 pm »
If we had the current deficit in an 'average' economy, I would be ok with it.

In an average economy the budget should be more or less balanced.  In a struggling economy we can run recessions. In a strong economy we should run surpluses or at the very least balanced budgets.

If the deficit was 5 billion or so it wouldn't be such an issue.  Liberals have been running ~20 billion annual deficits in an average to good economy since elected.
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