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Interview with Harper - Debt Crisis imminent
- Thread starter Evoex
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I've never studied economics but kind of get the idea. Understanding it is, to me, like playing three dimensional chess in the dark.
If everyone in Canada was forced to watch that interview and make a comment the most asked question would be "When do I get my next CERB cheque because I want to buy a new pickup truck."
If you asked the same people about their long term outlooks they would say "Well, next week.....
I would have to study Harper's points in greater depth before I commented further but he is speaking clearly and articulately. I believe his forecast of problems on the horizon. Obviously the specific nature of the problems is beyond anyone's grasp.
If everyone in Canada was forced to watch that interview and make a comment the most asked question would be "When do I get my next CERB cheque because I want to buy a new pickup truck."
If you asked the same people about their long term outlooks they would say "Well, next week.....
I would have to study Harper's points in greater depth before I commented further but he is speaking clearly and articulately. I believe his forecast of problems on the horizon. Obviously the specific nature of the problems is beyond anyone's grasp.
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Parkinglot
Guest
The Debt Crisis you speak of is definitely imminent and right on the doorstep.
I always had the utmost respect for Mr Harper and Mr Flaherty when they were in power. Fiscal prudence should be taught first by ones parents and secondly by our public school system. I had the wisdom of my parents from a young age that taught me about not living beyond my means, and has done me well.
Many in the younger generations need to have what they desire right now and are not disciplined to wait until they can Truly afford it.
So when that big bump in the road comes, and it always will at some point in everyone's lives, they are totally unprepared for big Wakeup.
I truly believe there will a reckoning in the near future and the ones that have been prudent and saved their pennies, paid down their debt , socked some cash away will come out the other side much better than those who haven't.
It was a very interesting and informative interview with Mr Harper, and I believe on the mark.
The government of Canada that is currently in power has no fiscal discipline and is leading us down the road to ruin. That day of reckoning is fast approaching.
Beware!!
I always had the utmost respect for Mr Harper and Mr Flaherty when they were in power. Fiscal prudence should be taught first by ones parents and secondly by our public school system. I had the wisdom of my parents from a young age that taught me about not living beyond my means, and has done me well.
Many in the younger generations need to have what they desire right now and are not disciplined to wait until they can Truly afford it.
So when that big bump in the road comes, and it always will at some point in everyone's lives, they are totally unprepared for big Wakeup.
I truly believe there will a reckoning in the near future and the ones that have been prudent and saved their pennies, paid down their debt , socked some cash away will come out the other side much better than those who haven't.
It was a very interesting and informative interview with Mr Harper, and I believe on the mark.
The government of Canada that is currently in power has no fiscal discipline and is leading us down the road to ruin. That day of reckoning is fast approaching.
Beware!!
D
Deleted member 50930
Guest
I think some of us are just tired of moving two steps forward then being forced 10 steps backwards due to stuff out of our control. So you start thinking about the now and worrying less about the future. For me.. 07/08 (ah crap) ===> I see the end of the tunnel ==> COVID-19 ==> ah crap. Maybe it's called depression
.Canadians’ wealth is tied to their parents’ more than ever, StatCan finds
But there are others who just see 0% or low interest rate and finance everything. But I think this was always the case with certain people.
Anyhow, have some money on the sidelines in case March 2020 repeats itself.
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Parkinglot
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Believe it when someone tells you that 750$ a month on CPP doesn't cut it without some other funds coming in from investments of some sort.I think some of us are just tired of moving two steps forward then being forced 10 steps backwards due to stuff out of our control. So you start thinking about the now and worrying less about the future. For me.. 07/08 (ah crap) ===> I see the end of the tunnel ==> COVID-19 ==> ah crap. Maybe it's called depression
Canadians’ wealth is tied to their parents’ more than ever, StatCan finds
But there are others who just see 0% or low interest rate and finance everything. But I think this was always the case with certain people.
Anyhow, have some money on the sidelines in case March 2020 repeats itself.
On the other hand you could probably do OK with that same 750$ a month living in a cardboard box under your local bridge.
Crisis is the best opportunity to get ahead. I put everything I had into the market in 08. It is way way up. I regret not drawing from credit and investing more. I could have been retired now instead of working for another 20 years.I think some of us are just tired of moving two steps forward then being forced 10 steps backwards due to stuff out of our control. So you start thinking about the now and worrying less about the future. For me.. 07/08 (ah crap) ===> I see the end of the tunnel ==> COVID-19 ==> ah crap. Maybe it's called depression
Canadians’ wealth is tied to their parents’ more than ever, StatCan finds
But there are others who just see 0% or low interest rate and finance everything. But I think this was always the case with certain people.
Anyhow, have some money on the sidelines in case March 2020 repeats itself.
@GEORGE.. I read the study you linked. Its good but also pretty ironically comical . I wish I could get paid for the authors 'insight'
wealth transfers between boomers and kids will be huge, If your parents have money you will likely get some. People get educations in fields which cannot transfer into jobs . Poor people have less money.
wealth transfers between boomers and kids will be huge, If your parents have money you will likely get some. People get educations in fields which cannot transfer into jobs . Poor people have less money.
sburns
Well-known member
All I have to say is listening to Harper speak, is very refreshing. He is insightful, knowledgeable, experienced, informative...all the things lacking in our current PM....what is the word I am looking for....oh it must be intelligence.
to be fair he's no longer a politician, he's allowed to answer questions now ?
Poor people leave little to their kids financially. Sadly their lack of knowledge is also a drawback. The talk around the rich dinner table is about advancement and leading edge careers. The poor talk is how to scrape by based on the past.
Interesting. I never liked the guy on a personal level but he makes a lot of sense.
Having said that, I still believe my kids will be better off than I was/am. When you compare what my oldest is making after you adjust for inflation its over twice as much as I was making in my 20's. I think the fly in the ointment is the $1.2 Trillion in debt in Canada and $27 trillion in the US (wherever they decide to settle).
Having said that, I still believe my kids will be better off than I was/am. When you compare what my oldest is making after you adjust for inflation its over twice as much as I was making in my 20's. I think the fly in the ointment is the $1.2 Trillion in debt in Canada and $27 trillion in the US (wherever they decide to settle).
J_F
Guest
remains to be seen if he understands the other side of Keynesian Economics (I doubt it)
the part where you raise taxes and cut spending after the crisis
don't think he'll be around to do it, even if he did understand it
J_F
Guest
yup
I figure he takes after Mom rather then Dad
the old man studied economics at Harvard and London School of Economics
then went a world wide walk about for a few years to gain some perspective
He doesnt even have that. You just hand your open wallet to the cashier and tell them to take what they need. No change required.
S&P 500 to Gold Ratio
This interactive chart tracks the ratio of the S&P 500 market index to the price of gold. The number tells you how many ounces of gold it would take to buy the S&P 500 on any given month.
www.macrotrends.net
Another DATAPOINT for you want to do your analysis on. Slightly (.0000001%) better than looking at chicken poop and predicting the next X hours/days/months.
Oh and F Harper, I think he forgot that he's the one who ushered in the Keynesianism back into Canada back in 2009 forgetting his own damn Master's thesis. Now he's back to his, leave the market alone and all would be great soapbox. He's a sellout for the popular vote too, so anything he says is tarnished by his credibility (even if he's right).
EDIT: This is not a free pass on JT. His government's lack of business investment is the real crime even before the pandemic.
J_F
Guest
well
if you mean stimulus via debt = subsequent increase in taxation revenue
in theory
that can work
but in the real world
it has never worked
why do you doubt that JT can be the first to make it work?
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