We spent a year traveling through various Sub-Saharan African countries. Despite each country having their own currency, the only thing that mattered was having US dollars in your wallet.
The enormous Gov't debt - is it truly debt?
- Thread starter LBV
- Start date
Too broad. Two or nine hundred meets the criteria. Maybe decamillionaire. Or come up with a cool name for double or triple digit millions. Duo-millionaire or tri-millionaire. It isn't going to affect me.
I've been baking my own Focaccia and we were calculating the material costs. I think it was about $2.00 a loaf (one pound +/-). It's about three hours from let's bake to Let's eat with about two hours watching the dough rise. Add in $15.00 for minimum wage labour. Then electricity and it isn't a good business model unless you can get $30 a loaf on a regular basis. Go big or stay home.
In the finance industry they have terms to define those levels:
HNWI (High Net Worth Individual): investable assets of 6-7 figures.
VHNWI (Very High Net Worth Individual): investable assets of at least $5M USD
UHNWI (Ultra High Net Worth Individual): investable assets of at least $30M USD
Problem is that nobody outside of finance knows these definitions, so you might have to spend time explaining what it is, which defeats the purpose.
Also, telling someone you're a Ultra-High-Net-Worth-Individual sounds ultra-douchey...
On another note, those definitions are based off investable assets, so if your mill is locked in your primary residence, you're no longer a HNWI to the mutual fund salesperson. And not surprisingly, they suddenly stop salivating.
Watch some of Pierre Poilievre's YouTube stuff and it gets scarier.
Watch the Liberal responses to his challenges and it gets even scarier again. Remember Trudeau's dismissive "The budget will take care of itself" blip? You ain't seen nothing yet.
What is secure any more?
Cash in the bank or bonds? Hyperinflation is a disaster with your savings dropping 50% a day.
The stock market? No guarantees other than fees.
Start your own business? The paperwork / regulations are massive hurdles and success not guaranteed.
Become an MP or civil servant? That works!
Private Pension Plan? If the payment is fixed you're screwed.
CPP? Watch Poilievre's comments on the government eyeing CPP funds like a kids eyeing the cookie jar.
Read up on Ponzi schemes. Government deficits are Ponzi schemes. The new investor pays the old investor with a chunk tapped off for the handlers.
sburns
Well-known member
Yeah thanks for the info, I saw this one already from the JT thread, yup scary stuff. The idea to create job makes sense, but they the Libs don't seem to be doing that. I know now job creation isn't going to work right now, but once this situation lifts they better have a plan in place to get things rolling and re-build....but it's won't happen, just more of the same and we'll be burdened further with more taxes, and taxes to pay for this free stuff.
Mad Mike
Well-known member
It is a scary looking chart. Making scary charts is easy, I call it “fun with statistics” and it’s commonly done to emphasize a point.
Simply change the scale on the x-axis to 5-year periods and the Canada line goes almost flat, supporting an ‘no big deal’ argument using the same data.
The rate Canada is printing money is alarming, but I don’t see it leading to economic catastrophe yet. Most of the world’s central banks printed more money than Canada for a very long time. Canada had a bit of wiggle room in reserve — JT has pretty much used that up.
1st customer price, best sunday price.
Mad Mike
Well-known member
For those of you not old enough to have experienced inflation, read up on Wage and Price controls. JTs daddy printed way too much money which led to rampant inflation and crushing interest rates in the late 70s.
It took 15 years for that stagflation period to recover and stabilize before the country started strong economic growth.
I could.
8% - 10% dividend paying stocks are a dime a dozen.
$80,000 to $100,000 / yr, easy money.
He mentioned interest not dividends. Interest rate is a lot less than 8% currently. People scrounging for 2% ISAs...
I get that.
But.
Anyone bright enough to accumulate $1M, should know where to start spreading it to make 'interest' interesting.
AllistonGT
Well-known member
Generally interested. Name the dozen.
Look around here, there's several dozen, monthly / Q'ly payers, etc:
Monthly Dividend Payers | Page 2 | Dividend Channel
monthly dividend,monthly dividend payers,monthly dividends
Here's for cdn only:
Top Ranked Dividend Stocks List | Page 1 | Canada Stock Channel
top ranked dividend stocks list
As others mentioned I was talking bank interest. Whats that today, .25%, $2,500 a year (Taxable)?
In the days of "The Millionaire" TV show things were quite different. Get a look at 34 year old Betty White.
In the 1960's some company used to have a display of a million dollars at the CNE and there was a draw to win a days interest, about $80.00. If you got that every day it's about $30K and decent house in Parkdale could be bought for half that.
Today the million gets $2500 and the house is worth $1.5 million.
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