Pretty Boys Budget - The Combine Forum

 19Likes
Reply
 
LinkBack Thread Tools
post #1 of 39 (permalink) Old 03-19-2017, 06:09 AM Thread Starter
Senior Member
 
stevie's Avatar
 
Join Date: Dec 2014
Posts: 1,205
Mentioned: 0 Post(s)
Quoted: 359 Post(s)
Pretty Boys Budget

Prime Minister Justin Trudeau certainly has Bay Street in a tizzy. David Rosenberg, a famous economist who works for high-end wealth manager Gluskin Sheff + Associates, this week advised readers of his $1,000-a-year newsletter to sell Canadian stocks and convert their loonies to other currencies before the March 22 budget ruins them. “This promises to be a tax-grab budget that would have made the likes of Herb Gray very proud if he was still alive,” Rosenberg wrote on March 13, according to a subscribers-only report in the Globe and Mail.

Why Bay Street and Trudeau don?t see eye to eye

Things will be good if you are gender challenged, dope smoking dependent on society person. If you work for a living it will be a 2 pail of Vaseline budget

stevie is online now  
post #2 of 39 (permalink) Old 03-19-2017, 11:18 AM
Senior Member
 
Join Date: Jun 2014
Location: west central Manitoba
Posts: 429
Mentioned: 0 Post(s)
Quoted: 187 Post(s)
This economist know much? Be much simpler to short the CAD wouldn't it? CAD recently rallied pretty nicely as well so it's could be a good spot to sell even if the budget doesn't end the world as we know it in Canada.

mixtupfarmer is offline  
post #3 of 39 (permalink) Old 03-19-2017, 11:47 AM Thread Starter
Senior Member
 
stevie's Avatar
 
Join Date: Dec 2014
Posts: 1,205
Mentioned: 0 Post(s)
Quoted: 359 Post(s)
I am more concerned there will be an increase in deficit spending on social programs. Between all the taxes now you are giving up more than 50 % if you work hard enough.. The country has an expense problem, not an income problem. And yes the Canadian dollar is a tough call. 5 cents on the dollar really can change basis on 10 dollar beans
stevie is online now  
post #4 of 39 (permalink) Old 03-19-2017, 01:06 PM
Senior Member
 
kenmb's Avatar
 
Join Date: Dec 2010
Location: Central Sk
Posts: 1,532
Mentioned: 2 Post(s)
Quoted: 372 Post(s)
Thanks for posting, i wasnt watching this.

A note on Canadas economy and banking system - not good

Whose Banks Are Riskiest: A Surprising Answer From The BIS | Zero Hedge

I was watching the $CAN dropping with the $US over the last few days and was wondering the reason. Market pricing in new budget i rekon. The FED wants a stronger $US and Wednesdays performance sure did not get that response. So i would bet on the $CAN taking a hit to restore strength to the $US vs $CAN. The central banks will figure out the stories they need in other regions to get currency ratios to where they want them.

Typical BS about income inequality and coming from the IMF no less (ie central banking cartel). So banks create inflation to take your wealth and the richer you are the less impacted by this phenomenon. But the poor people get further behind, that is a surety. And the middle class is doing great according to the article which i expect is mainly the result of asset bubbles. This therefore should be taxed in form of capital gains tax.

Yes, the Liberals are the bankers dream government. Divide the population, tax everyone and steal the wealth of those below who break out of the schemes, and then blame income inequality on conservative values to ensure those most hit most by economic repression demand more of the same.
kenmb is offline  
post #5 of 39 (permalink) Old 03-21-2017, 02:42 PM
Senior Member
 
kenmb's Avatar
 
Join Date: Dec 2010
Location: Central Sk
Posts: 1,532
Mentioned: 2 Post(s)
Quoted: 372 Post(s)
Found this article recapping our deficit spending history:
https://www.fraserinstitute.org/blog...t-road-to-debt

To highlight, about $130B more debt by 2022. And in relation to a previous post, Canada did not really accumulate debt until 1970 when the US went off the gold standard and our government decided it should borrow from private banks instead of itself. That detail is omitted in above article.

Here is a speculative piece on what to expect in the budget. Probably best to wait for the real budget to come out but somethings to comment on:

10 ways federal budget 2017 could affect your finances

The Liberals are celebrating their budget will be an example of how to tax the rich but what i see are things that would have taxed me as i took the chance to break from being a simple wage earner and instead invested in a company with others, paid ourselves dividends and sold the company (to a multinational no less). Start up companies, dividends, selling for a profit are all things the government should encourage to expand the middle class but instead the Liberals say i would be one of the rich and so budgets need to be created to arrest these things.

Similarily, the budget wants to increase incentive to own homes......... And then increase taxation via capital gains on sale if that same house rises in value due to you being raped by inflation. Its a bankers dream.
kenmb is offline  
post #6 of 39 (permalink) Old 03-21-2017, 03:58 PM
Senior Member
 
Join Date: Sep 2009
Location: S. AB
Posts: 2,138
Mentioned: 1 Post(s)
Quoted: 422 Post(s)
While I agree with much of what has been said, if we think that deficit spending under a non-Liberal government would be better, we should think again. Cretien was certainly a polarizing figure but he balanced the budge from a deficit to a surplus in first four years or so, and that surplus carried on right up until about the first year of the Harper administration. For whatever reason (blame the economy, the previous Liberal government, the weather, whatever), under Harper the government ran a deficit for nearly 10 years, though he did almost get it balanced towards the end. Lots of external factors but you'd think after 10 years, policies could turn things around pretty dramatically. So I'm doubtful that any party is going to fix things, or make a worse mess than other parties are capable of. I'm not a fan of Liberal policies or politicians, but I'm also not very impressed with the Conservative party of Canada's track record.
torriem is online now  
post #7 of 39 (permalink) Old 03-21-2017, 05:19 PM Thread Starter
Senior Member
 
stevie's Avatar
 
Join Date: Dec 2014
Posts: 1,205
Mentioned: 0 Post(s)
Quoted: 359 Post(s)
How a snowstorm exposed Quebec?s real problem: social malaise

If this is rite then the underground economy is already here
stevie is online now  
post #8 of 39 (permalink) Old 03-21-2017, 07:40 PM Thread Starter
Senior Member
 
stevie's Avatar
 
Join Date: Dec 2014
Posts: 1,205
Mentioned: 0 Post(s)
Quoted: 359 Post(s)
stevie is online now  
post #9 of 39 (permalink) Old 03-21-2017, 08:27 PM
Senior Member
 
kenmb's Avatar
 
Join Date: Dec 2010
Location: Central Sk
Posts: 1,532
Mentioned: 2 Post(s)
Quoted: 372 Post(s)
What a guy needs to consider though is how the CPC did in comparison to other governments, so we need to look at other countries through the same time periods. I dont like the spending of the CPC but we also need to remember that in a democracy there were requirements to appease the demands of opposition parties to get budgets passed. While we do not know if the CPC would have run a $130B deficit, we do know the Liberals are because "now is a good time to borrow and the countries finances are in good shape" as per JT during the election. We also can show a history where the CPC was very close to a balanced budget at the end of their term where as other countries are bleeding red yet with no end in sight. I would speculate that a Liberal government for 10 years before the financial crisis would have put the country in a greater disadvantage when the GFC hit. But i have no proof of what could have been.

I do wish the idea of spending our way out of debt would die already and the CPC still went along with the same idea, but i think they did so to a much lower degree than the comparables. At least the banks love what we are doing. Also keep in mind true right wing parties dont exist, the CPC is more centerist. If people want strong right wing representation then they need to voice that sentiment rather than claiming our present CPC party is something that it is not and therefore associate that with failure of the ideology.
kenmb is offline  
post #10 of 39 (permalink) Old 03-23-2017, 01:25 PM
Senior Member
 
Join Date: Jun 2014
Location: west central Manitoba
Posts: 429
Mentioned: 0 Post(s)
Quoted: 187 Post(s)
So not as bad as expected? Smokes and beer going up, so that sucks, anything else?

mixtupfarmer is offline  
Reply

Quick Reply
Message:
Options

Register Now



In order to be able to post messages on the The Combine Forum forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.

User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.

Password:


Confirm Password:
Email Address
Please enter a valid email address for yourself.

Email Address:
OR

Log-in









Human Verification

In order to verify that you are a human and not a spam bot, please enter the answer into the following box below based on the instructions contained in the graphic.



Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page



Posting Rules  
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

 
For the best viewing experience please update your browser to Google Chrome