David Clinton- Who Owns Canada’s Public Debt?
By all accounts, an 11 percent share in a government’s debt counts as leverage. Given China’s recent history, our ability to act independently in international and even domestic affairs could be compromised. But it could also be destabilizing, exposing us to risk if China’s economy faces turmoil which could disrupt our ability to roll over debt or secure new financing.
Mark Carney’s plan to add another 20 percent to our debt over the next four years will only increase our exposure to these – and many more – risks. Canadian voters have made an interesting choice.
This is what concerned me. “Who are those buyers [of Canada’s debt]? Many of them are probably Canadian banks and other financial institutions.” Aren’t we in effect borrowing from ourselves? Or more accurately creating money and devaluing our dollar? Or at least those who are borrowing are devaluing the dollar?
You mean like a really big three-card monte where the dealer palms the card? That’s the impression I get.
Remember when we all found out the mechanics of the 2008 mortgage-backed commercial paper crash? Remember how we’d all been wondering -why- a bank would issue a 2nd or even 3rd mortgage on a cruddy suburban house owned by your dog Fritzie?
And then we collectively gasped and the great shout went up “HOW IS THIS EVEN LEGAL?!!!”
They do the same thing with car loans now, did you know that? That’s why you can still get a car loan for an $80,000 F-150. Commercial paper.
Yeah. When there are families sleeping in the park, but the DOW is at all-time highs and the rich are getting WAY richer, but gold is also at all-time highs because the rich can smell disaster coming… you’re playing three-card monte. And you are -not- the dealer.
Inflation and the diminishing value of our dollar doesn’t bother most people in this place, but it bothers me, and that’s Carney’s prescription for canada.
His friends in the Communist Party of China seem to be having a little economic trouble themselves, so what worries me more I guess is if they just dump it on the market, won’t that send our economy and the dollar crashing? Overnight?
I’m more concerned #CarkMarney’s little friend Winnie the Pooh might decide he needs a ”Short Victorious War” to settle the peasants down. He’ll pick Taiwan. That will be very bad indeed.
Yeah, that’s my thought, and worry, as well.
As much as I enjoy watching the long overdue comeuppance of Xi’s mafia-style economy, the domestic peasant revolt it will trigger will lead the CCP to desperate actions to maintain control.
Study Bitcoin.
Carney is in a debt position where he has to bribe everybody.. Not just his green grifter friends.. Before he is done he will be blaming Trudeau for the decline.. Trump is going in a different MAGA direction.. We will be held up to that in a couple of years..
What do we hate more?.. Trump or poverty :).. IMO it will be poverty..
Carney could…
1) approve a new oil pipeline to the west coast
2) approve a new gas pipeline to Thunder Bay with an LNG shipping port there
3) eliminate the carbon tax permanently
4) reduce corporate taxes to 15%
5) reduce personal taxes especially in the lowest tax brackets
6) set a maximum personal tax payable of 25%
7) tax first time capital gains the same as income (25%)
8) don’t tax the same money twice
9) don’t tax equity on principle residence
10) back off on the DEI and trans inclusion
11) don’t ram EVs down our throat but encourage people in congested cities to drive them by offering free recharging stations
Do all that and sit back and run the country for 25 years.
And give up the fact that Government revenue as a part of GDP is 41.274%, and Gov.expenditure is 43.256%. That would never happen with a liberal at the helm. With Carney you can expect that to increase.
Dreamer from the east!
“Trump is going in a different MAGA direction”
Indeed. Whereas our decline will be gradual, America’s will be a catastrophic nosedive.
Socialize the debt.
Privatize the profit.
Ain’t Kleptocracy Grand?
“Who Owns Canada’s Public Debt?”
Not Alberta. Canaduh has stolen 1 $Trillion(with a T) from Alberta.
ZERO percent of Canaduh’s national debt is owed by Alberta.
Plus Interest!- And take back the democide hordes.