Meet Argentina's new Far-Right President, Javier Milei

[DesRicardo]

When Harper took over the Unemployment was 6.8%. It rose under his tenor to 8.3%, and at the end of his reign it was 6.9%.

Paul Boothe on how the economy fared under Harper, Martin and Chretien

Prime Ministers can’t seem to refrain from claiming credit when the economy is growing well, so let's see how the economy fared under Harper, Martin and Chretien

macleans.ca

Nothing to boast with Harper in the Statistics from the Macleans Link.

Under Trudeau it is down from 6.9% to 5.8%. Even though it crept up last month, yet more than 25,000 jobs were created. Still a better job creation than under Harper. Moreover, the economy was doing fine until the Pandemic struck and all the Provinces started to shut their economies. The Federal Government did rush to the aid of the citizens.

The Interest Rates hike is a global phenomenon and Canada is not insulated from it. Yet our interest rates are not as bad as some of the other G7 Nations. Harper did run a deficit of around $56 Billion in one year with further deficits of $33 and then $26 Billions in subsequent years. Yes, far more than Trudeau did.

Thank You.

I've already covered this. You fail to add that the large deficit was during the Financial meltdown and unlike Trudeau, Harper had a plan to lower spending. Where's Trudeau's plan? When does the economy start paying for itself like with the previous Liberal Government?

Like I said 2 standards.

 

[bver_hunter]

Basically you don't want to admit what was said is true.

OIC, then Canada should never have been admitted to the G7 on the word of this "Expert". Wonder why we were there under the previous administrations?

 

[bver_hunter]

I've already covered this. You fail to add that the large deficit was during the Financial meltdown and unlike Trudeau, Harper had a plan to lower spending. Where's Trudeau's plan? When does the economy start paying for itself like with the previous Liberal Government?

Like I said 2 standards.

No you hate the facts spelled out by Pavel as to the deficits that are facts. What do you not understand with the impact on the lockdowns and part-time, plus massive layoffs during these trying times?
Then it was compounded by the Supply Chain disruptions, The Russia-Ukraine war, included the hit to Canadian and USA crops by droughts and fires. So many businesses that took temporary loans from the Government during these times are finding it hard to pay it back due to the Global high inflation rates. You are the one trying to set two different playfields and then moving the goal posts. Wait till this inflation is under control and then we can see the fiscal spending being curbed to balance the budgets!!

 

[bver_hunter]

[


Good god.
the Beaver and Frank don’t even understand the drivers off inflation. I don’t feel like typing a thesis, nor trying to explain neurology to a mid wife.

So will try hard to dumb it down.
Demand/Supply is gdp… inflation is “gdp”
Said super simply.

If GDP is growing at 10% and people are getting hired left right and centre, making bank, buying all kinds of consumer goods and services ( CPI Beaver) you think inflation (CPI) is 1%?

Nor explain monetary policy and the Bank of Canada.

OIC, Canada's spending has triggered off the inflation Globally with all the G7 Nations being impacted by it......... Definitely not getting any younger. ROTFLMAO!!
We know that Pee Pee and his cronies are spending the false narrative as to the impact of the Carbon Tax. Yet now The Bank of Canada has confirmed that it has contributed to only:

There's now a Bank of Canada number for carbon tax's impact on inflation. It's small

Making everything more expensive? Only by a fraction of a percentage point

There's some, and one could stress some, point to the Conservative Party's steady drumbeat.

It's inescapably true that the federal carbon tax makes life for Canadians more expensive — before the "climate action incentive" rebate — and Bank of Canada governor Tiff Macklem reiterated this on a visit to Calgary on Thursday.

He brought further clarity to the highly charged political discourse by putting a number on it.

That number: 0.15 percentage points of the inflation increase can be attributed to the carbon tax.

Pierre Poilievre's Conservatives have made much sport of arguing the Trudeau Liberals' tool to fight climate change has severely affected the affordability of fuel, groceries and other goods. While the Opposition party has never put a number on it, the figure has never appeared to be as rhetorically small as Macklem put it.

In questions following a luncheon address to the Calgary Chamber of Commerce, the central bank head said his team's inflation-watching takes into consideration the Trudeau government decision to annually hike its price on carbon by $15 per tonne.

"So each year it's 0.15 (per cent), but that's a relatively small effect on year-over-year inflation," Macklem told reporters.

https://www.cbc.ca/news/canada/calgary/carbon-tax-inflation-tiff-macklem-calgary-1.6960189

So let's go with the facts and not the Pee pee logic that you guys buy!!

By the way the Government does hand out credits to offset this Carbon Tax and I am happy to receive it. If you do not need yours, then just hand it back!!

 

[bver_hunter]

I never said Harper did a great job. My point is you guys voted Harper out for doing much less damage than Trudeau. By your logic we should be voting Trudeau out. But no. You're biased, a hypocrite and operate with 2 standards.

And the link you posted is behind a paywall. For all I know you could be lying. Again.

Trudeau inherited a rebound economy with a Federal Budget near balanced. Why don't you compare Liberals to Liberals? Will Trudeau ever have a budget looking like Chretien/Martin?

But you hate the facts now. The fact is that the Debt to GDP Ratio was even better under Trudeau who stimulated the economy and hence better job creations etc prior to the Pandemic.
Wait for this inflation to come under control as there are pressing issues to spend such as the housing markets that the provinces are begging to get these resources from The Federal Government. No doubt that it will be released just like The Government did to aid the provinces with the $10 Childcare that enabled women to get back in the workforce. Again the highest deficit in a fiscal year was under Harper where he managed one of $55.6 Billion and then another over $33 Billion. There were several years of deficits under him!!

 

[Not getting younger]

Leave it to Beaver.
Who can’t grasp those that matter don’t give about ass about how we compare to others in the G7. Want to pretend your smarter than them to? That your layman ( if that) level of finance and economics doesn’t scratch their level?

That your grasp of business, finance, economics…..Especially after saying some incredibly stupid things? Now I can add you somehow bringing the Carbon tax causes inflation into this.who the F has said that? I haven’t. For that matter. It’s very very very likely you can’t grasp the numerous causes. Here’s a quote from the last link. Leave it to Beaver.

Overlooked in the hype over reports about meaningless economic gyrations,

^^^^^^^^^^^^^^this is you.

Smarter than CEOs, who like ratings agencies don’t give a rats ass about participation ribbons either. I weep for your children when you’re old enough to have any.

‘What can we do that will stop the bleeding of our investments?’

A look at how to add some safety to your portfolio

www.theglobeandmail.com

Bloomberg - Are you a robot?

www.bloomberg.com

Joe Oliver: Canada’s bleeding capital and competitiveness. Won't Morneau do something to help?

We need meaningful tax cuts, aggressive support for resource development and transportation and elimination of interprovincial trade barriers

financialpost.com

Canadian foreign investment spree hits record amid 'capital bleed'

https://www.nbc.ca/content/dam/bnc/taux-analyses/analyse-eco/etude-speciale/special-report_211130.pdf

https://www.fraserinstitute.org/sites/default/files/business-investment-per-worker.pdf

A lesson in economics for the Beaver. This is specific to Ontario. Written by someone a long the likes of Drummond, Mintz, Porter.
read it and a little dated. However… A) you can’t even grasp or know there’s a lag to government policy, B) there are relationships between this/that and C) connect dots.

Nor do you even grasp at the very simplest level… that if you think Canada ( thus JT) is doing good. Given Ontario is the…….????.you better vote for Ford and start singing his praises….His handling of Ontario leads to???

Government mismanagement is bleeding Ontario dry: Philip Cross in the Financial Post | Macdonald-Laurier Institute

Ontario has diverted away from adopting the business-friendly policies that are the only real way to resuscitate economic growth.

macdonaldlaurier.ca

So Beaver. Just how smart ( your grasp of finance and economics) are you? And when will I read you singing Fords praises. How’s that for facts? Not the least of which is just how little you ( or your die hard buddies) know about the topic.

 

[DesRicardo]

No you hate the facts spelled out by Pavel as to the deficits that are facts. What do you not understand with the impact on the lockdowns and part-time, plus massive layoffs during these trying times?
Then it was compounded by the Supply Chain disruptions, The Russia-Ukraine war, included the hit to Canadian and USA crops by droughts and fires. So many businesses that took temporary loans from the Government during these times are finding it hard to pay it back due to the Global high inflation rates. You are the one trying to set two different playfields and then moving the goal posts. Wait till this inflation is under control and then we can see the fiscal spending being curbed to balance the budgets!!

Like I keep saying, Justin has no plan to lower the Budget. Waiting is not a plan.

He can't govern without spending $20 Billion over budget. Give any leader no financial restrictions and they will look good on paper.

Fiscal responsibility is completely over looked when you guys talk about Justin. Two standards.

Deficit is now $40 billion and counting. What exactly do you want me to wait for?

https://www.cbc.ca/news/politics/canada-fall-economic-statmenet-2023-1.7035098

 

[DesRicardo]

But you hate the facts now. The fact is that the Debt to GDP Ratio was even better under Trudeau who stimulated the economy and hence better job creations etc prior to the Pandemic.
Wait for this inflation to come under control as there are pressing issues to spend such as the housing markets that the provinces are begging to get these resources from The Federal Government. No doubt that it will be released just like The Government did to aid the provinces with the $10 Childcare that enabled women to get back in the workforce. Again the highest deficit in a fiscal year was under Harper where he managed one of $55.6 Billion and then another over $33 Billion. There were several years of deficits under him!!

Wrong, they highest deficit is under Trudeau with $325 Billion in 2020.

Canada has always had a great net Debt to GDP ratio. We've gone though all of this.

 

[Frankfooter]

Wrong, they highest deficit is under Trudeau with $325 Billion in 2020.

Canada has always had a great net Debt to GDP ratio. We've gone though all of this.

You excuse Harper for a massive deficit during a smallish recession but then say its outrageous Trudeau ran one during the biggest pandemic in a century?

 

[Not getting younger]

Wrong, they highest deficit is under Trudeau with $325 Billion in 2020.

Canada has always had a great net Debt to GDP ratio. We've gone though all of this.

He can’t even read a line graph that’s been handed to him a few times. I’m not sure he even knows what a fact is. My guess is, that’s because he thinks Harper was a disaster, but doesn’t want to face reality…that’s JTs record is far worse

Canada recorded a Government Debt to GDP of 107 percent of the country's Gross Domestic Product in 2022. Government Debt to GDP in Canada averaged 80.83 percent of GDP from 1980 until 2022, reaching an all time high of 117.80 percent of GDP in 2020 and a record low of 44.90 percent of GDP in 1980. source: IMF.

Canada Government Gross Debt to GDP

Canada recorded a Government Debt to GDP of 107.50 percent of the country's Gross Domestic Product in 2023. This page provides - Canada Government Debt To GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

tradingeconomics.com

 

[Frankfooter]

He can’t even read a line graph that’s been handed to him a few times. I’m not sure he even knows what a fact is. My guess is, that’s because he thinks Harper was a disaster, but doesn’t want to face reality…that’s JTs record is far worse

Canada Government Gross Debt to GDP

Canada recorded a Government Debt to GDP of 107.50 percent of the country's Gross Domestic Product in 2023. This page provides - Canada Government Debt To GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

tradingeconomics.com

So its been going down since the pandemic?

 

[DesRicardo]

You excuse Harper for a massive deficit during a smallish recession but then say its outrageous Trudeau ran one during the biggest pandemic in a century?

We can't have 2 systems

If you won't account the financial meltdown for Harper's spending, then you can't account covid for Trudeau's spending.

Also, what's Trudeau's plan to balance?

 

[DesRicardo]

He can’t even read a line graph that’s been handed to him a few times. I’m not sure he even knows what a fact is. My guess is, that’s because he thinks Harper was a disaster, but doesn’t want to face reality…that’s JTs record is far worse

Canada Government Gross Debt to GDP

Canada recorded a Government Debt to GDP of 107.50 percent of the country's Gross Domestic Product in 2023. This page provides - Canada Government Debt To GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

tradingeconomics.com

What he fails to understand there is a big difference between Net Debt and Gross Debt.

Gross Debt is the Total Debt Canada has and when you factor that, we are nowhere near number #1 in the G7 or world. We actually have the biggest drop of all countries.

 

[Skoob]

We can't have 2 systems

If you won't account the financial meltdown for Harper's spending, then you can't account covid for Trudeau's spending.

Also, what's Trudeau's plan to balance?

Difference between the two is that Canada weathered the recession much better than how it weathered the pandemic. Canada was much better prepared for the recession than it was for the pandemic.
Based on the Liberals being in power since 2015, the trajectory of their reckless spending would have us pretty close to where we are now regardless of a pandemic.
That's how bad it is. It's like really bad. Even if they get booted out in the next election, whoever takes over is going to need at least decade to improve anything.
It's that bad.

There's a reason why the Ontario provincial Liberals don't exist any longer. They were as bad but by the time people figured it out, world records for debt were set, and generations are left paying for their stupidity and financial mismanagement.

 

[Frankfooter]

We can't have 2 systems

If you won't account the financial meltdown for Harper's spending, then you can't account covid for Trudeau's spending.

Also, what's Trudeau's plan to balance?

What would you do?
More cuts?
More tax breaks for the rich?

Has there ever been a different plan from the cons?

 

[DesRicardo]

What would you do?
More cuts?
More tax breaks for the rich?

Has there ever been a different plan from the cons?

More important, what is Justin going to do? So far it's dig a deeper hole and wait on someone else to do the difficult work.

 

[DesRicardo]

Difference between the two is that Canada weathered the recession much better than how it weathered the pandemic. Canada was much better prepared for the recession than it was for the pandemic.
Based on the Liberals being in power since 2015, the trajectory of their reckless spending would have us pretty close to where we are now regardless of a pandemic.
That's how bad it is. It's like really bad. Even if they get booted out in the next election, whoever takes over is going to need at least decade to improve anything.
It's that bad.

There's a reason why the Ontario provincial Liberals don't exist any longer. They were as bad but by the time people figured it out, world records for debt were set, and generations are left paying for their stupidity and financial mismanagement.

And that's what these guys don't truly realize. Reckless spending comes at a great consequence.

Ontario Liberals had to sell off assets just to stay afloat and they STILL had debt hidden off the books.

I can understand why Alberta wants to leave the CPP. This is not the cabinet to trust.

 

[bver_hunter]

Like I keep saying, Justin has no plan to lower the Budget. Waiting is not a plan.

He can't govern without spending $20 Billion over budget. Give any leader no financial restrictions and they will look good on paper.

Fiscal responsibility is completely over looked when you guys talk about Justin. Two standards.

Deficit is now $40 billion and counting. What exactly do you want me to wait for?

https://www.cbc.ca/news/politics/canada-fall-economic-statmenet-2023-1.7035098

Again if Harper went $56 Billion over the budget in one fiscal year, then another $33 Billion in the next year and further deficits in the following year, and yet you think that he was "Fiscally Responsible". Eight of his ten years was about Deficits. His so called balanced budget at the end was just a rush to sell off certain assets, and closures of several facilities including centres for the Military veterans etc. The economy was still in a Recession in 2015 and Trudeau at least stimulated it. If it was not for the Pandemic and several issues likes the Supply Chain Disruption, and then the War in Ukraine perpetrated by Russia, the actual deficit trends were down then. The Liberal Government had to support the Canadians during the three years of closure of the economies by the provinces. Can you imagine the hue and cry if they were not supporting the ones who lost their jobs as well as businesses that were in deep trouble then?

https://www.cbc.ca/news/politics/liberals-roll-back-harper-initiatives-1.3504107

 

[Frankfooter]

More important, what is Justin going to do? So far it's dig a deeper hole and wait on someone else to do the difficult work.

The liberals are making cuts everywhere right now.
What they also aren't doing is cutting taxes and revenue at the same time.

Would you do anything different?

 

[Not getting younger]

What would you do?
More cuts?
More tax breaks for the rich?

Has there ever been a different plan from the cons?

Frank, for the love of god, read something for a change. Start with any of the links on capital bleed.

What is JT doing and what do you want to do?Kill fossil and jobs in Alberta.

Nor would they ( likely) spend spend spend spend spend spend. Make the debt/gdp situation worse. You also want to tax companies and go after the rich. Cause more capital bleed. There’s a bright idea that no one worth taking seriously is suggesting.

Here’s some more basic economics for you. Governments, all of them. Only have so much influence over the economy. Have little control over people, be they CEOs or Johnny Q, their spending etc. Atleast those that aren’t communist. The GDP side. And it takes years for GDP to grow, assuming debt remains flat. Balanced budgets. Read their Goddamn fall economic statement. And that’s assuming their rosy gdp growth projections are sunny days. See also what is responsible for most of any growth the past few years…..what does that lead to? Unaffordable housing.

They have full control of the debt side.

Here’s another factoid you don’t like. Rae led to Harris…Mcwynne led to Ford, JT we don’t know yet how deep any cuts may be…See also Chrétien and see also Drummond. .When will you and your like minded, left side friends. Learn from history? And sleep in the beds you make. Aka stop blaming them, for the mess you create. And or ante up

Another fact. When the Drummond commission released their findings it was 2010. Debt/GDP was if I recall 43-45%. Today it’s 39%……..

Here’s another fact. Best case scenario is say 5 years of hot economic growth (but where now that you’ve flushed Alberta and let’s not forget Boomers or have you) ….the prairies? The Maritimes? Do you know there’s life outside the city and you’re not the only people that matter?

Yay really sunny days. Know what that leads to? I’m guessing not.