If a doctor told you that the best way to treat alcoholism would be to drink even more, it’s doubtful that you would take him seriously. But that’s the equivalent of some of the suggestions being offered to deal with Newfoundland’s current budgetary, or should I say existential, crisis.
Finally, [the Greene Report] recommends a new federal loan facility be established to enable the province to borrow 10 and 30-year bonds at federal rates.
Sources say the plan is to get through the pandemic before turning to a comprehensive plan that takes in health transfers, child care, long-term care and pharmacare.
Unless such plans consider market solutions for these items, it would seem that a Zimbabwe style outcome is now within reach.
Newfoundland is bankrupt the have been spending 25% in excess of income for years. Nobody Internationally will buy their debt or bonds.
Very soon the same for Alberta.
And very soon the same for Ottawa.
Although Ottawa can print, the money will soon be low quality asswipe. And will purchase nothing. As the value of the currency falls we will be able to afford less and less imported products like FOOD.
Canada no longer is self sufficient in food. This is going to devastate the poor and middle class
You are full of shit
Well you will still be able to trade in cod tongues and maple syrup all will not be lost for you in the PERMANENT WELFARE BUM Atlantic
The truth must be hurting your overly sensitive, and useless, feelings.
Care to elaborate?
Ottawa’s Total Public Debt is around 6T. In 2014 it was 4.1T. Trudeau added another 2 Trillion. And is still printing and borrowing.
That is more total Debt load than all of the EU minus Germany.
The EU has a much larger tax base, and a much larger combined GDP than Canada.
Each Province is in debt. Each Crown Corp is in debt. Every single Municipality is in debt, some more than others.
Canada and NFLD and all our governments have been living far beyond their means for many years.
The cuts will be imposed by the International Lenders and the IMF.
We used to have 1000 Metric Tonnes of gold reserves but that was all sold off by Chretien and Martin.
Not much left to hand over anymore.
https://torontosun.com/2014/04/11/all-levels-of-canadian-government-debt-total-41-trillion
EU Debt as of 2020 worse now.
https://www.statista.com/statistics/274179/national-debt-in-eu-countries/
Corus Radio’s Financial guru Michael Campbell gave away five, 100 TRILLION DOLLAR bills on his program last Saturday and again this Saturday. That’s – and I think I got this – is $1,000,000,000,000,000 over two weeks. And yes, they were real banknotes. For those out there who think inflation like that is a myth, ask any Zimbabwean.
Gov’ts indebted to international lenders, citizens indebted to lenders of all sorts, no free speech (C-10), and now handing over determination of rights (C-15) to the UN.
Yah, that’s a short summary but the details don’t make it any nicer.
Turdo is determined that Canada will be the first country of the UN! What a joy that will be.
It is the truth.
One of the great economic Prof. who made his bones studying hyperinflation and deflation says USA has unleased more printed money than was pumped into the system for WW2.
Big difference is that the USA and Canada also shut down all business for over a year. And just handed out money.
Canadians are FOOKED and by midsummer late summer it will be very apparent. This will bring chaos and bad shit is going to happen Canada wide.
People are goig to lose their shit when they lose homes and vehicles and credit etc. and there will be no jobs. Probably 25-30% of small business’s are gone permanently. And the unemployment rate is probably around 20% and will reach much higher as more business failures arise from the devalued dollar. That and supply chain disruptions will wipe out those mfg still in business. Many small business can not get parts or components. Travel and Hospitality is gone and will take years to rebuild. All those summer hospitality jobs gone and most will be gone for years and years
https://www.omfif.org/2021/05/us-inflation-surge-is-harbinger-of-whats-to-come/
The end game.
https://imageproxy.ifunny.co/crop:x-20,resize:640x,quality:90×75/images/ad8ae0be153d3af35bed9541075af1e5cf56914181a867a3354620ac8bda3668_1.jpg
4.1 Trillion or $245,000 in debt for each Canadian from all levels of government including unfunded liabilities according to the Fraser Institute.
The politicians bought all kinds of votes with that money but what did we get?
I want to know what the living hell we got for that obscenely reckless level of debt.
Pandering to every conceivable group with endless handouts so that no Canadian culture hack ever has to stoop to getting a real job and can continue to be lavishly paid for indulging in his favourite hobby is the most obvious thing that comes to mind.
How much is that per taxpayer?
Canada has just about as many people on benefits as there were working before the Covid Gulag, I suspect that has tipped even more with so many places shut down.
TheRaven-
Be careful, you are dissing da Canadian values, now.
Food Bank use in Canada has sky rocketed. It was high before covid but accelerating. There is a lot of censorship by Canadian governments as to what is going on in this country.
https://edmontonsocialplanning.ca/2020/10/28/fact-sheet-food-insecurity-during-covid-19/
When I grew up everyone was poor, but if the breadwinner was a drunk, that family suffered as most of the paycheck ended up in the pup owners’ hands. I suspect that not much has changed.
We’re going back to the 90’s. Only this time we’re in a far worse situation demographically & culturally.
I suspect Canada will be Argentina north soon, but the resilience against our just desserts is absolutely fantastic.
Consider how much debt just the Canada Housing and Mortgage is carrying.
When the shtf it will be an epic tsunami even bigger than the 1930’s because every country is in the same huge debt boat.
Even Uncle Sam is knackered.
And in he 1930’s we were a cohesive country. Now we have diversity, it is just so quaint and high cultured to walk through a multicult fair and see all the goat humpin and farting and tap dancin in fancy clothes.
Such an education so much better than what we had. And oh my the Gay Parades what will we do without them. I mean the big city taxpayers spend millions supporting all dis Kultur and such. And all the big arenas for our multi millionaire sport hero’s.
And worth all the borrowed money we can get so as to have more of this education.
We are all in for another type of education now.
Called whatever it takes to get the coon.
Newfoundland is an overgrown outport, long past due for its turn to have the hydro cut off and the people moved somewhere they can make a living doing something that isn’t cashing pogey cheques.
Live within its means? It doesn’t have any. Agriculture is impossible and the jobs in the fishing industry aren’t coming back. If the Rock were sold to the Chinese for a dollar and an agreement to assume St. John’s debt, it’s hard to imagine what use it could be to them, except as a parking lot for battleships and a reservation for hostile white people when they’re ready to clear Chinada’s habitable land for Chinese settlement.
I love when the truly ignorant self identify.
Lesson from the seventies and eighties,buy real things.
For the buying power of your “saved dollars” is being eroded as you watch.
Civilization requires trust.
Law and Order is a prerequisite of of greater wealth.
For without that illusion you only produce what you can defend or carry.
As we devolve into “special Law” we become poorer.
Kleptocracy is a limited time offer,method of governing.
For rule by bandits for the convenience and comfort of bandits,soon destroys all productive output..
Even the dumbest human refuses to put out ,to be ripped off..
Some slow learners,like Canadians,take decades to wake up,but the result is always the same.
Takers overwhelm makers and start fighting amongst themselves over fewer and fewer scraps.
National Debt is treason.
Prolonged national debt is suicide.
I did not leave Canada,it died around me.
Buffalo can rise from these ashes,but only if we refuse to be free lunch.
No parasites.
Symbiotic relationships?
May be acceptable.
But unless the citizen is informed and conscious of their duties,before their “rights” the same fate awaits any remnants of Old Canada.
Smothered by a plague of parasites,sycophants and assault style liberals..
Chanting “We are here to help you,Free Money,more money”
“Free stuff for all”
Hey, someone pipe in about how the independent republic of Alberta needs:
– pension plan
– old age security
– police force
– medical care
– pharamacare
– food care
– mortgage care
– child care
– education care
– unemployment care
– employment care
– retirement care
– a duplication of every federal department, but “staffed by us”
And tell me how Alberta, Saskatchewan, Peopletoba, British Columbia, … , are not already on the same path (if not arrived already).
It will be a “happy DEPENDENCE Day” for all the big government nanny state cult members who believe everything can get better without government getting any smaller or changing in any way.
One can think of some solutions. Problem is the Liberal government is not looking for pain. Pass the buck down the road with more printing money (Bank of Canada will keep buying more provincial bonds and federal bonds). Pain will not be denied, just delayed.