During the 15 years that Pierre Trudeau was prime minister, federal spending rose from 30 to 53 per cent of GDP. Huge public spending overheated the economy, resulting in runaway inflation. By 1981, Canada’s prime lending rate had reached an incredible 22 per cent. The inability to meet skyrocketing interest payments caused widespread corporate and personal bankruptcies.
Accessing risk capital was virtually impossible when government bonds were yielding 19 per cent. By the time he retired in 1984, national debt had grown by 700 per cent and Canada’s international debt rating had collapsed. Canada was transformed from one of the financially strongest countries in the world into an economic basket case. It would be two decades before tough fiscal discipline was able to overcome compounding interest payments and begin to reduce the country’s real-dollar debt.
Five decades later, son Justin has Canada on a similar path. After inheriting the Stephen Harper government’s zero-deficit balance sheet a little over two years ago, Trudeau’s budgeted 2017–18 deficit has rocketed to $18 billion, with continuing deficits forecast to add $117 billion to the national debt by 2023. That’s reason enough to worry, but the picture is certain to get much worse. Why? For the same reason that Pierre Trudeau’s deficits spiralled out of control: the imposition of ideologically socialist government policies on a capitalist free-market economy.
h/t Neil
Well, what do you expect when the pigs are running the farm? You really can’t blame them, they are only doing what comes natural.
I would like to believe that this will at least pause after the next election, but Scheer is not the leader we need, not a leader at all. All turdeau needs do is let in a few more voters and buy off a few more toronto idiots and we are in for more years building the windmill.
and remember the left’s mantra “some pigs are more equal than others”
Trudeau governs not for Canada, but for the implementation of his Liberal globalist open borders agenda. He cares not about the impact on Canada because he does not believe it to exist.
Stupidity ain’t cheap.
well Fred, I beg to disagree with you, and hold up UnDork as my example:-)))
Canada still has not paid a dime of Trudeau’s debt, interest payments only. now just who got rich on that?
‘Canada’s business investment, as a share of GDP, has fallen to second-last among 17 industrialized OECD countries.’
I was reading about Taste of the Danforth and sure enough, Trudeau’s pic and quotes. Then over to Fredericton. Another pic of him and more quotes.
The LPoC has forced this guy into everything, crossing the country continually, and the general population – half-wits at best – eat it up. He’s going to be PM for as long as he wants because far too many Canadians are ignorant children who don’t understand deficits, debt or interest; and they certainly don’t understand branding but they love this guy who will steal their wealth and economically enthrall their children. Or worse.
yes Buddy, you nailed it!!
We all know people like that……totally oblivious ‘adult’ children who smugly repeat liberal soundbites in vain attempts to portray themselves as politically aware.
Strange isn’t it. Harper couldn’t move the government aircraft 10 feet without the media badgering him about the cost but they seem to have lost all curiosity about the cost of all these flights back and forth across the country for what essentially amounts to political campaigning.
And why is Andrew Who jet setting around the country getting to know the populace? Could it be that he is stupider than Trudeau?
“Could it be that he (Scheer) is stupider than Trudeau?”
Nope.
But he could be even more yellow.
Andrew Scheer
The Liberal steer
Got all dressed up in blue
Then ran away
And hid all day
Afraid of turdo la doo
nold: Just look to the south and you will see the same. IT IS CALLED THE SMEAR…MSM…fake news!! Call it what it is!! Tru-groper is being paid by Soros to destroy CANADA…open borders…A ONE WORLD GOV’T. The EU is all about open borders and REGULATIONS they will impose on Canadians. Just watch the LIE-BRAL gov’t impose new regulation on everything….THEY WILL SHUT DOWN THE OIL INDUSTRY…Pierre’s saying JUST WATCH ME!!! CANADA is next fill with illegals coming across the border where ever they can get across.
It is political campaigning — same as Duffy did and taxpayers are footing the bill. What is worse in Trudeau’s case is that he should be running the country. He is not, so we pay someone else to do that while he galavants around doing photo ops. If he had any integrity, he would resign. I cringe that anyone would have chosen this jerk for Prime Minister.
It’s almost as if God/Universe is punishing Canada for something it did in its past. Whatever could that be? Prior to the outbreak of WW2, how many Jewish refugees were on that ship that was turned away by the government of Liberal Mackenzie King? Prior to the huge influx of Muslims–who were, as a demographic, the most anti-Semitic people in Canada–who still hold an inordinate amount of sway in Canadian politics?
A small group of well-heeled, well-protected homosexuals, who hate pious Jews and Christians who condemn their disgusting sexual practices as an abomination.
Trudeau wanted the state out of the bedrooms of the nation because his fellow perverts were sick of losing their lucrative positions in business and government and going to prison when the press exposed their sordid hobbies.
You forgot to mention pedophiles as well.
Well, since no one ever learns, might as well just keep repeating myself.
Democracy is the theory that the common people know what they, and deserve to get it good and hard.
In a democracy, people get the leaders they deserve.
This comes back to Jordan Peterson’s rule for life about not lying. Just admit the truth, and you will be happier.
Well said.
I did a speech in grade 9 about the vicious circle called attitudes-actions-circumstances in which I describe the way the status quo is maintained.
people’s circumstances play a big part in their attitudes. attitudes determine actions. actions determine circumstances and thus the circle is complete.
I was attending a hard core conservative ‘thats where the rich kids go’ high school and aimed the message directly at THEM.
they responded by giving me a barely passing mark.
the truth hurts eh?
otoh there were times when I wisely lied and lied and lied, like times when the enraged parents, determined to mete out punichment demanded did I have anything to do with x.
moi? mais non maman, pas moi. repeat until the gestapo interrogation ceases and I’m still standing.
the truth hurts and it is very, very dangerous for BOTH sides.
aka sign of the times.
I am in despair that there are too many stupid voters to enable the turfing of Turdeau out.
Many of them are the generations after the baby boomers. I experience his father’s handling
of the economy. Son wants to economically out-stupid the father be he Castro or Pierre.
Food for fodder https://www.google.ca/search?q=comparison+pictures+of+justin+trudeau+and+fidel+castro&tbm=isch&tbo=u&source=univ&sa=X&ved=2ahUKEwjo5cfviercAhWFnoMKHak8BcoQsAR6BAgAEAE&biw=1366&bih=651
” Huge public spending overheated the economy,”
That maybe true but government spending played a much smaller role in run away inflation than the changes that were made to the banking polices and the fractional reserve system polices that saw banks creating out of thin air at a rate of 24 to 1 flooding the economy with …”funny money”!
1$ on deposit licensed the banksters to create $24 on yours and my loan ledger. I remember thinking….loan at 7% inflation at 15 %…. borrow man borrow! You can’t loose.
But then came the hammer. 24% interest.
“…I remember thinking…. … You can’t loose (sic).”
Did you learn? It is always possible to lose. And in any case where you don’t see how you can lose, you probably will.
It just occurred to me; what the left is doing, is HUAC (House Un-American Activities Committee). Joseph McCarthy is vilified not because what he did was wrong; but because it was effective. And now, the communists are using that tactic, in a rear guard action to cleanse the institutions they conquered in the long march through the institutions…
I am beginning to think they do not actually have much power; only the illusion of numbers and strength, and timid opposition. But, now people see Trump, and how timid was not working, and just how easy it was to defeat the Clinton machine, etc., etc., etc.. Now the left is in desperation mode, banning infowars, saying #walkaway is astro turfing, lashing out without thought, only desperate to appear to be winning.
Kevin: You are on the mark. I think we as Canadians can do the same GET OUT THE VOTE!! VOTE CONSERVATIVE and we will beat the LIE-BRALS. VOTE OUT THE LIE-BRALS IN 2019!!!….VOTE OUT THE LIE-BRALS IN 2019!! ALL CANADIANS MAKE SURE YOU VOTE…VOTES COUNT…VOTE CONSERVATIVE!! We have to make sure that voter fraud doesn’t happen in Canada! Tru-groper would like to just hand out voting cards to vote….you don’t need to be a CANADIAN citizen to vote!!! We’ll see if this happens. OUR CANADIANS VALUES ARE BEING ERODED…what next!!
He is not Pierre’s son. He is Castro’s son. Not that that improves anything.
Whether he’s Pierre’s son or Fidel’s son, he is still a communist stooge.
The only question who wins? The Russians think Justin works for them, the Chinese believe Justin is theirs.
In either case Canada looses.
“Whether he’s Pierre’s son or Fidel’s son …”
I just call him Castreau.
@So What:
To lend plausibility to that theory, somebody needs to do the location of Maggie and Fidel approximately 9 months before Justin’s birth. The info, if accurate will either totally disprove the Castro theory or improve the plausibility of Castro being his father. I just looked it up, Justin was born Dec 25, 1971. Holy cow, I am surprised he hasn’t yet announced he is the Second Coming. Anyway, where were Maggie and Fidel in 1971, March 25 or thereabouts?
The most dangerous thing, when you have only the illusion of power, is for that power to be questioned. If you get a car from Ford, and you don’t make your payments, they do not go on CNN to attack you personally, they just repossess the car and forget your name. That is the exercise of real power.
When you send a aircraft carrier to the Gulf, you are hoping that the message is received and acted upon; not that you will actually have to admit you are fresh out of cruise missiles and fuel, and do not have the power you claimed to have.
Something for nothing has universal appeal to many people. Toss in a little greed and envy and the formula is complete. WW II established that government could spend huge amounts of money without a serious downside. Turdeau Sr., a draft dodger, came from a rich family that never had a bottom line. I suggest Jr. is no different.
All this aside I have never seen a politician left or right who would not use the government cheque book to achieve political survival. I respected Bill Bennett Jr. as BC premier and to a more limited degree Stephen Harper. Whereas Bennett made a concerted effort to educate voters on the pitfalls of debt I did not see as much from Harper. Until citizens realize how politicos manipulate their lives with spending there will be no change. I am harsher on so called conservatives who do not use their platforms in this education as this is a central theme to their philosophy.
Canada’s strategic weaknesses are now being exposed by Donald Trump and laughably the Saudis. As Mexico and the EU throw Canada under the ‘bus’ in an effort to save their own ‘rice bowl’ perhaps Canadians will be forced to address systemic issues. In a resource based economy debt is a national security issue. A $ of GDP is not worth the same dollar of GDP in the USA. Canada has lived off of American largess for hundreds of years. Instead of acknowledging this threat to sovereignty politicians have asserted that they can ‘handle’ the situation. They have not and in all likelihood when the debt crunch hits Canada the country will fall apart.
“Canada has lived off of American largess for hundreds of years.”
Please, skip the hyperbole. Neither Canada nor the US has even existed for “hundreds of years”. Our modern economic relationship with the US largely dates from about the late 19th Century but really only got going in the 20th Century. It has always been relatively symbiotic too (with due allowance for obvious differences of scale).
We have certainly benefitted from US military might, but only since WWII. Prior to that, the British Empire provided our military cover.
None of my above remarks should be taken to mean we have not been a freeloading dilettante when it comes to matters of national security.
We have benefitted from US military might. perhaps true. But the US showed up late to WW1 and WW2.
with good reason. it was rightfully the view that both those conflagrations were the outcome of goings on in the e-u-r-o-p-e-a-n capitals. not washington or wall street or wtfever conspidddddacy’ about the Rothchilds.
ONLY when it became glaringly evident that not intervening would allow catastrophe which would then PULL the USA into it, only then did Americans step up.
and dont fergit, it was hitler declared war on the USA first, NOT the other way around.
And don`t forget Canada declared war on the Japanese before the Yanks.
Don’t forget, the Great War was still pretty close to the Civil War which was one of the bloodiest wars ever fought anywhere before or since. The US had very good reasons to stay out of what has always been a stupid pointless war. As for WWII the US did not arrive late, they militarized their entire economy and began shipping war materiel years before committing manpower to the field of battle. This is not being late, this is being smart. What good is it to send millions of troops with inferior or no weapons or ammo?
“Don’t forget, the Great War was still pretty close to the Civil War which was one of the bloodiest wars ever fought anywhere before or since.”
More hyperbole. The US Civil War was the bloodiest war your country ever fought but it was hardly “one of the bloodiest wars ever fought anywhere before or since”.
The only wars that matter are the ones my country fought in.
It is sad that it appears that the Trudeau effort to destroy Canada economically and socially is by design.
It is sadder that most of the media seems to not only runs cover for him, but actually hides and supports the destruction, and sadder yet that the people generally are too ignorant to see what is happening.
Thatcher had the measure of pierre when she made this statement.
“eventually they run out of other people’s money”.
There in is the Achilles heel of the liberal party. When they run out of the other people’s money, the bill gets handed to them, then they lose big time.
Wynne ran out of other people’s money and she couldn’t hide that fact any longer.
Since the 80’s the cycle has accelerated exponentially. What took PET ten years to do can be done in a year now, consequently the down side occurs at the same rate. By the spring this country will see a recession brought on and abetted by the juthtin government.
My fear is that history will repeat in that the next government will be a conservative minority and Scheer will not remember the lessons of the past.
Ct you are right. Fiscal “conservatives” of Canadian history are few and far between.
Just voting conservative offers no guarantee.
The Taxpayer association needs to grow by the thousands as they are the only ones doing education and applying pressure. A far better investment than a conservative membership.
Remember Brian?
https://youtu.be/YZxYMpfjXnM
Come on you guys: THE BUDGET WILL BALANCE ITSELF. Don’t you believe this?
Turdeau, “Budget? What’s a budget? Why do we need one I just spend money and all is well.”