Category: nannystate

Interest Expenses

Issuing short term bonds is a sweet deal when interest rates are falling, but not so much when they go the other way.

Canada has just over $1.4 trillion in debt — more than double the $619 billion owed in the Liberal government’s first year — borrowed using bonds ranging between two and 30 years.

This year, $414 billion of the national debt will be refinanced. During the pandemic, the Bank of Canada’s central rate was as low as 0.25 per cent; it’s now five per cent.

A Message For the CPC

Here’s an interesting juxtaposition: a former Liberal MP condemns the ruinously expensive central planning scheme that the Conservative party slavishly supports. We’ve now arrived at the point where around one quarter of one percent of the population will hold an effective veto over trade negotiations affecting the rest of the country.

“The dairy lobby is the National Rifle Association of Canada,” proclaims Martha Hall Findlay, former Liberal MP and now head of the University of Calgary’s school of public policy.

“The one potential positive of Bill-282 is, it is so over the top that it will backfire and it will finally be the time when enough people in this country realize we have to deal with this,” declares Martha.

And “it is so egregious,” she argues, other countries will realize what we’re doing, pointing to the U.K.’s recent withdrawal from trade talks with Canada in large measure over their lack of access to our supply-managed markets, with cheese featuring large. The U.K. is Canada’s third largest trading partner.

 

Losing Your Cool

In an effort to combat rising temperatures, the Environmental Protection Agency is going to raise the cost of beating the heat. I guess it’ll all balance out in about 150 years, right?

“They’re stopping the production of the current refrigerant, R-410A. Those systems will no longer be produced after December 31 of this year…”

The Environmental Protection agency wants to replace the refrigerants with more eco-friendly alternatives.

“They’re trying to get to the lowest global warming potential number that they can. Unfortunately, it’s going to drive costs significantly up, and it’s going to impact homeowners,” Howard said.

National Bankruptcy

I personally know some people who would choose to be a care-giver to their XBox if the math of Universal Basic Income worked out for them. In all likelihood, it would do so in many cases. At least enough to send us over the cliff into default and an inflationary currency collapse.

Sen. Kim Pate and NDP MP Leah Gazan introduced bills S-233 and C-223, respectively, in a bid to create the first national framework to provide all people over age 17 across Canada, including temporary workers, permanent residents and refugee claimants, a guaranteed livable basic income.

Based on Ontario’s basic income pilot project, the Parliamentary Budget Officer estimated that the basic gross cost of guaranteed basic income(opens in a new tab) nationally would range between $30.5 billion and $71.4 billion from November 2020 to March 2021…

Historical Figures

Having played Monopoly many times in my life, I had not realized that the inventor was a doctrinaire socialist who developed it in order to promote a jaundiced view of free markets. Nonetheless, the game stands as one example of how socialists effectively employ broad cultural narratives to promote their ideas.

Magie …wrote poems, performed in dramatic theater, taught college-level courses in her home, corresponded with Upton Sinclair, and studied economic theory. Her father was close friends with Abraham Lincoln. Both father and daughter were devout followers of the teachings of economist Henry George, whose 1879 treatise Progress and Poverty made the case for a single tax, on land. Like her fellow Georgists, Magie believed that ownership of nature was not possible — the earth was not something that could be owned. Land could, however, be “rented”, thus comprising the single tax. Magie designed The Landlord’s Game to teach and proselytize the principles of Georgism.

For those who are not familiar with Henry George, I like to call him a pre-Marxist Marxist.

Magic Money Trees

With talk of Universal Basic Income appearing to gain steam these days, one of the main objections is the sheer cost of the program. But one advocate of UBI claims to have the answer, and it lies in marrying UBI with its obvious philosophical twin: Modern Monetary Theory. In doing so, he manages to lay bare the utter nihilism behind both theories.

Okay, so you want to start your own country and create your own currency? Congratulations! What’s step one? …. Step one therefore is to create money out of nothing. Choose whatever you want. Want to use shells? Okay. Want to carve notches on rocks or sticks? Okay. Want to use dollar bills? Okay. Want to use ones and zeroes? Okay. Whatever you do, get that stuff to your people. After your people have money, tax some of it back. Don’t tax all of it back. That would leave nothing for them to use on goods and services in the private sector. Tax some percentage of it back. Congrats! You just ran a “deficit”, began your “national debt”, and gave your money value by requiring that people pay their taxes in your currency.

Losses For The Masses

Maybe central planning didn’t work at this time, but trust us, it will work at some point in the future. The question remains, why do we even have such a bank in the first place?

The head of the Canada Infrastructure Bank defended $900,000 spent on a now-cancelled power line project, arguing the project will ultimately get built and the due diligence the bank did was entirely reasonable.

The bank agreed in 2021 to offer a $655-million loan to the project and spent $900,000 on due diligence involving lawyers and outside experts. The project has since been suspended and the original owner sold its interest to another company. The loan did not go through, but the $900,000 had already been spent.

Pharma Pressure?

Suneel Dhand is a British physician who has been openly critical of pandemic policy in many a YouTube video and now focuses his critical eye on another common medical issue: blood pressure.

“I believe it’s absolutely ludicrous that we would have this one size fits all approach to blood pressure [of ] 120 over 80.”

“Every passing year the guidance from the medical establishment gets more and more aggressive and on many levels this is a complete money grab…”

 

Taxing Measures

Boston is certainly not the first city to hit the wall of declining commercial property values, and it won’t be the last. The cheering was widespread when everyone worked from home during the pandemic, but now that many of those jobs have disappeared and downtowns are filling up with the homeless, there’s simply not enough commercial tenants left to fill the gap.

A recent report by the Boston Policy Institute found the city may lose $1.4 billion in tax revenue over the next five years due to empty office spaces. Boston could also face a recurring shortfall of about $500 million each year after that first half-decade, the report found.

In a sane world, the solution would be to cut spending and align it with revenue. But in the insane Keynesian universe, the “solution” is to tax the remaining commercial property owners even harder than they already are. I can’t imagine any negative consequences arising from that, can you?

The measure would give the city the flexibility to temporarily shift more of the property tax levy onto commercial and industrial property owners. If approved, new tax rates would only go into effect if commercial valuations come in low as expected, Wu said.

Odd Behaviour

Manitoba’s NDP government is doing something that’s seemingly out of character: they’ve slashed a spending item by 50%. The opposition Tories are critical of that move, but for the wrong reasons. If they were real conservatives, they would demand to know why the government stopped at a 50% cut.

The provincial government has set funding for park-related capital investments at $6.8 million in its first budget, delivered Tuesday. That’s down from about $12.7 million last year, when the PCs were in power.

“It’s obvious this government doesn’t value parks, the experiences they provide or the tourism dollars they bring to the province,” [Conservative MLA] Nesbitt said during question period.

The MLA for Riding Mountain told reporters later on Thursday that Manitobans and other visitors to the province’s parks will all be disappointed by the funding cuts.

Zero Income Earners

The emergence of another casualty of California’s decision to hike the minimum wage to $20 per hour comes as no surprise to anyone who understands basic economics: the real minimum wage is actually zero.

When making their way to work Monday morning, Navarro and her team learned upon arrival that the restaurant owner had made the decision to close its doors for good. The owner, Loren Wright, told local Fox affiliate KMPH that this was the “last thing” they wanted to do, but knew by Friday night the business likely wouldn’t be able to absorb the wage hike…

“And those who are still working in the areas around us that went up to $20 an hour, they got their hours severely cut.”

The New Police State

Not only can the Scottish police now charge you with “hate speech” on a wide variety of topics, but they can do so based on criteria that drops any  and all pretense of objectivity. It seems that for Scots the best way to avoid prison would be to tape their mouths shut and abandon social media.

Asked whether “misgendering” someone or making a comment about their religion would be a crime the minister replied: “This will be up to Police Scotland. I wouldn’t say misgendering if you say something on social media for example it would be up to Police Scotland to determine.”

Rest assured, however, the police will move heaven and earth to investigate such “high level” crimes:

Just last month the national force said it was no longer able to investigate every “low level” crime, including some cases of theft and criminal damage.

It has, however, pledged to investigate every hate crime complaint it receives.

Tax Me Harder!

The last thing any municipal ratepayer in this country needs is for their city to gain the ability to get their hands on your income. Income taxes are outrageously high as it is and adding another predatory level of government into the mix will only make that worse. But that doesn’t stop socialist think tanks from proposing such nonsense, which is then uncritically regurgitated by the leftist corporate media.

Macdonald believes the City of Vancouver alone could net a further $100 million annually if it could collect a one per cent tax on annual incomes over $56,000.

Conservative in Name Only

If even a conservative government can rack up this kind of debt, there’s no comfort in knowing that a liberal government would rack it up even faster. There’s virtually no political constituency for smaller government left anywhere on the planet, perhaps with the exception of Argentina.

Ontario is delaying its path to balance as lethargic economic growth drags the province’s books further into the red, with a $9.8-billion budget deficit projected for the coming fiscal year.

The deficit for 2024-25 is almost double what the province projected in the fall economic update. That document had also eyed a return to surplus the following year, which was already delayed a year from the 2023 budget. Bethlenfalvy now projects that a small surplus will not happen until 2026-27. In 2025-26, the deficit is forecast to be $4.6 billion.

I Want A New Country

RCMP- Saskatchewan RCMP begin Mandatory Alcohol Screenings (MAS) on routine traffic stops

In 2018, the MAS became part of the Criminal Code Section 320.27(2), being a lawful demand of a breath sample from any driver of a motor vehicle, without the need for reasonable suspicion. Drivers will not be pulled over for the sole purpose of completing a MAS – the MAS will only be requested once a driver is pulled over for other various traffic violations (i.e. speeding, careless driving, brake lights not working, etc.).

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