BOC Hits 5%

Maclins job setting BOC rates is a thankless job. He’s there to keep things from tanking , but it’s a bitter pill he has to hand out .


Sent from my iPhone using GTAMotorcycle.com
 
crankcall said:
Maclins job setting BOC rates is a thankless job. He’s there to keep things from tanking , but it’s a bitter pill he has to hand out .


Sent from my iPhone using GTAMotorcycle.com
Click to expand...
I'm not a Macklem fan. He's the first BOC leader to lose money, and he's losing it by the dumpster load.

BOC does a bunch of things - all are important. A big part of their job is managing monetary policy so Canada's economy has inflation and currency stability. They are inindependent of the federal gov an PM to ensure monetary policy decisions are made in the best interest of Canadians without political interference.

Tiffany broke that trust when he jumped into the political ring with JT and engineered the money printing JT asked for to fuel a political agenda. That money printing lit up inflation, which would have been a known side effect. He was late in raising rates, waiting till it started ruñning away. Then he clubbed Canadians with high interest that is barely controlling inflation while driving personal debt thru the roof.
 
Last edited:
Mad Mike said:
I'm not a Macklem fan. He's the first BOC leader to lose money, and he's losing it by the dumpster load.

BOC does a bunch of things - all are important. A big part of their job is managing monetary policy so Canada's economy has inflation and currency stability. They are inindependent of the federal gov an PM to ensure monetary policy decisions are made in the best interest of Canadians without political interference.

Tiffany broke that trust when he jumped into the political ring with JT and engineered the money printing JT asked for to fuel a political agenda. That money printing lit up inflation, which would have been a known side effect. He was late in raising rates, waiting till it started ruñning away. Then he clubbed Canadians with high interest that is barely controlling inflation while driving personal debt thru the roof.
Click to expand...
I feel for Macklem. It's very difficult to do your job properly, when the literal leader is doing everything to go against your policy.

More immigration, more free money, more pet projects, more more more...Macklem can't win. He'll keep raising rates, and JT will keep doing his fairy tale dust.

IIRC even PO also indicated he doesn't plan on stopping the immigration levels or even going to tackle the housing issue...but can't recall 100%.
 
mimico_polak said:
I feel for Macklem. It's very difficult to do your job properly, when the literal leader is doing everything to go against your policy.

More immigration, more free money, more pet projects, more more more...Macklem can't win. He'll keep raising rates, and JT will keep doing his fairy tale dust.

IIRC even PO also indicated he doesn't plan on stopping the immigration levels or even going to tackle the housing issue...but can't recall 100%.
Click to expand...
I don't feel bad for him - I feel bad for Canada.

BOC governors are appointed for fixed terms to remove political influence from their decision-making. Prior to his selection by, he had been bypassed twice in favor of people with broader experience - Macklem was a career bureaucrat, he was expected to lead a business yet had zero private sector experience.

When JT decided to spend a few hundred billion, Tiff created the money to fill the cash dumpsters. Even a first year economy student should tell you that flooding markets with cash at a time when supply chains were challenged has a very predictable outcome -- rampant inflation. He knew it would happen, he didnt have to play politics and do it. The final failure was sitting back too long before putting corrective actions in place.

Too many mistakes, worthy of a James Carville line.
 
I have survived 12% increase in yearly wage that it did not cover inflation.
It can get a whole lot worse than it is now.
2010 to 2020 was an alternate reality that spoiled us.
Overnight.jpg
 
A bit of a spin off, but used car prices seem to be good for the seller but those are drivers. Some websites are moaning that collector vehicles (Toys) are dropping in price. I don't know if it's affecting the Duesenberg clientele but the mid century market seems to be getting hit.
 
nobbie48 said:
A bit of a spin off, but used car prices seem to be good for the seller but those are drivers. Some websites are moaning that collector vehicles (Toys) are dropping in price. I don't know if it's affecting the Duesenberg clientele but the mid century market seems to be getting hit.
Click to expand...
In the face of rising rates, dumping a toy to pay down debt is a good play.

With younger people fighting with housing insecurity, they won't have the money or space for toys. Avid collectors can only hoard so many mediocre vehicles. Modern subdivision garages won't even fit many vehicles so even those that have a house don't have room for a toy car.

Like bikes and boats, buy what you can afford to lose and hope you get something for it at the end.
 
nobbie48 said:
A bit of a spin off, but used car prices seem to be good for the seller but those are drivers. Some websites are moaning that collector vehicles (Toys) are dropping in price. I don't know if it's affecting the Duesenberg clientele but the mid century market seems to be getting hit.
Click to expand...
Classic car values plummet at the generation that was alive when they were new dies off. Cars up to the 50 have dropped off hugely I would expect the 60 cars to be next as the Boomers disappear.

Sent from the future
 
Scuba Steve said:
Classic car values plummet at the generation that was alive when they were new dies off. Cars up to the 50 have dropped off hugely I would expect the 60 cars to be next as the Boomers disappear.

Sent from the future
Click to expand...
Some will hold up reasonably well (mostly muscle cars and some euro cars). It will be interesting to see what happens in a few decades. Most of the vehicles built from 1990 to 2010 were barely worth owning new and I sure as hell wouldn't want most of them as a toy. I suspect the iconic classics survive as weekend thunder to pair with the dd Jetsons car. The mediocre stuff probably disappears.
 
GreyGhost said:
In the face of rising rates, dumping a toy to pay down debt is a good play.

With younger people fighting with housing insecurity, they won't have the money or space for toys. Avid collectors can only hoard so many mediocre vehicles. Modern subdivision garages won't even fit many vehicles so even those that have a house don't have room for a toy car.

Like bikes and boats, buy what you can afford to lose and hope you get something for it at the end.
Click to expand...
In tough times, if you have pay to store it you can’t afford it.
 
Scuba Steve said:
Classic car values plummet at the generation that was alive when they were new dies off. Cars up to the 50 have dropped off hugely I would expect the 60 cars to be next as the Boomers disappear.

Sent from the future
Click to expand...
I was in high school when the Mustang came out and it was “Wow What a chick magnet”. It still is if you can find a 75 year old chick.

Similarly the 50+ year old guy, gold chains and Hawaiian shirts trying to look cool now that he can finally afford a Corvette
 
GreyGhost said:
When parts become unobtainable. I saw a blown viper engine for sale for $2500. That seemed reasonable to me. Should be able to get that making power again for a reasonable amount of money.
Click to expand...
I was having a discussion with the owner of a first year Supra and commented on plastic parts being a problem as they dried out and cracked. You can weld, roll and form metal on a one off basis but plastics need quantities to justify mold costs.

He pointed out 3D printing as the solution.

Then there are the chips. What happens if you can’t get that little black bug like thing?
 
GreyGhost said:
Some will hold up reasonably well (mostly muscle cars and some euro cars). It will be interesting to see what happens in a few decades. Most of the vehicles built from 1990 to 2010 were barely worth owning new and I sure as hell wouldn't want most of them as a toy. I suspect the iconic classics survive as weekend thunder to pair with the dd Jetsons car. The mediocre stuff probably disappears.
Click to expand...
A couple of months ago I was discussing old cars with an 87 year old friend and he had a list of high end Pontiacs he owned during the 1950s through to the 1970s coupes and convertibles.

It’s one of those “If I had kept them” things. It would be great if you had a barn with a concrete floor but if you had to pay any more than $40 month for storage for 50 years the economics suck.
 
She's not wrong.

Clearly anyone who voted for them since 2015 hasn't cared about fiscal responsibility for a second. Why change now.
Forum Sponsor
 
You must log in or register to reply here.
Back
Top Bottom