Canadian Federal Politics Thread v5

[KootenayFlamesFan]

Originally Posted by flamesfever

How do you all (we) know that's not something PP wants?

The economy is getting worse with each rise in interest rates.

Nearly one in four homeowners feel that they many need to sell their home if interest rates continue to rise.

Nearly 50% of Canadians are living paycheck to paycheck

Almost 2/3 of young Canadian non-owners have given up on ever owning a home

I'd like to see some more data concerning this claim. I've seen it before, but not sure if it's because it's self-inflicted.

I have a co-worker that makes enough money where he should live comfortably. But he and his wife spend money like drunken sailors, make terrible decisions buying large items that they shouldn't. Max out their credit cards purchasing things online just because they are on sale and a great deal.

I think a lot of our society spends far beyond their means, hence, they have to live paycheck to paycheck. Not because they can't find jobs or can only find low paying jobs, but rather because they are so horrible managing their money. I'm not going to pin that one on our government.

[flamesfever]

Originally Posted by KootenayFlamesFan

I'd like to see some more data concerning this claim. I've seen it before, but not sure if it's because it's self-inflicted.

I have a co-worker that makes enough money where he should live comfortably. But he and his wife spend money like drunken sailors, make terrible decisions buying large items that they shouldn't. Max out their credit cards purchasing things online just because they are on sale and a great deal.

I think a lot of our society spends far beyond their means, hence, they have to live paycheck to paycheck. Not because they can't find jobs or can only find low paying jobs, but rather because they are so horrible managing their money. I'm not going to pin that one on our government.

I think the number was 47%. I saw it on the internet so it must be true LOL.

I think a lot of people have taken their cue from the Federal Government, as far as spending is concerned.

[Muta]

As someone who went through business school and the required finance and accounting courses, as well as economics courses.... not sure in the slightest why money management isn't a core, mandatory subject for kids starting right in elementary school. Maybe it's because the banks don't want educated, financially literate people; might dig into their profits.

[Slava]

Even if the number is 47-50%, what does a federal government do about this? There’s no policy that’s going to suddenly change how people budget their money (or don’t budget).

[KootenayFlamesFan]

Originally Posted by Muta

As someone who went through business school and the required finance and accounting courses, as well as economics courses.... not sure in the slightest why money management isn't a core, mandatory subject for kids starting right in elementary school. Maybe it's because the banks don't want educated, financially literate people; might dig into their profits.

Absolutely agree. I had a consumer education course in middle school (a long, long time ago lol) and still remember a lot of what was taught in that class. It doesn't have to be too in depth at a young age, but teaching kids basic stuff like budgeting, saving, investing, whatever......should start somewhere around Grade 7 imo.

[Izzle]

Kids should also learn how to delay gratification. That is the foundation of good sensible behaviour, IMO.

[flamesfever]

Originally Posted by Slava

Even if the number is 47-50%, what does a federal government do about this? There’s no policy that’s going to suddenly change how people budget their money (or don’t budget).

In my opinion the Government should do nothing. Increased spending, in the form of handouts, will only work against the BOC that is raising interest rates to slow the economy and stop the spending and inflationary psychology.

At present it still seems like our economy is too hot, and interest rates will continue to go up. However, with the inverted yield curve, I believe we are heading for recession, and the slowing economy should do a lot to cool people's spending.

In the past, the Government would let the economy go into recession every four years, and this would act to moderate people's spending. I think the good times have been allowed to go on far too long, by Government overspending and printing money.

[PepsiFree]

Are we counting the peak COVID year or so as “good times”?

[flamesfever]

Originally Posted by PepsiFree

Are we counting the peak COVID year or so as “good times”?

Yes in terms of financial matters. Government handouts, low interest rates, low food and material costs, low energy costs, easy borrowing.

[calculoso]

Interesting insight into how press conference questions are asked and the coordination between reporters

https://twitter.com/user/status/1570216448961966080

https://threadreaderapp.com/thread/1...961966080.html

[calgarygeologist]

Originally Posted by flamesfever

Yes in terms of financial matters. Government handouts, low interest rates, low food and material costs, low energy costs, easy borrowing.

Except for when lumber prices spiked and it was like $20 for a 2x4 and $100 for a sheet of plywood.

[flamesfever]

Originally Posted by calgarygeologist

Except for when lumber prices spiked and it was like $20 for a 2x4 and $100 for a sheet of plywood.

Yes you're right, I forgot. I think it shows what people tend to do when they have a lot of time on their hands. They start building things like fences, decks, basements, office in the backyard, garage, new homes, etc.

I also think the rising price in real estate was a factor. People could see their investment pay off.

[PepsiFree]

Originally Posted by flamesfever

Yes in terms of financial matters. Government handouts, low interest rates, low food and material costs, low energy costs, easy borrowing.

A lot of people were unemployed or had poor job security. A lot of people also took pay cuts (myself included).

I’m not sure I buy your idea of “good times.”

[woob]

Yup, I was fortunate to keep my job but took a 20% pay cut for most of 2020.

[AFireInside]

Originally Posted by flamesfever

How do you all (we) know that's not something PP wants?

The economy is getting worse with each rise in interest rates.

Nearly one in four homeowners feel that they many need to sell their home if interest rates continue to rise.

Nearly 50% of Canadians are living paycheck to paycheck

Almost 2/3 of young Canadian non-owners have given up on ever owning a home

You sure?

In 2014 the Canadian Payroll Association found that 51% were living paycheque to paycheque. This is a standard con talking point. Yet the survey in 2014 would have been under Harper.

https://www.moneysense.ca/news/more-...-to-paycheque/

But lets go back to 2011. The Canadian Payroll Association survey found that 57% were living paycheque to paycheque. Old Stevie really screwed up that year!!

https://www.cbc.ca/news/business/can...eque-1.1030865

The 2021 Canadian Payroll survey found 36% are living paycheque to paycheque. Sounds like your 50% number is off.

https://www.newswire.ca/news-release...865112491.html

As for Pierre.

He owns multiple properties. One of which his wife took money out on recently. He doesn't want prices dropping. I literally just read a page of posts from people who seem to support PP talking about how angry everyone will be if housing prices drop. So which is it? He wants housing prices to drop so he can get support, or he doesn't want them to drop because he'll lose support?

Fixing housing prices will require higher interest rates, increasing supply or both. Increasing supply won't even necessarily solve the problem if you don't limit speculative buyers, which we won't. How many property owners will buy a 2nd rental, or a 3rd or 4th.

Pierre has not given a single bit of info about how he plans to solve any of this, and the rest of it is misdirection with idiotic terms like "Justinflation" designed to create rage.

[AFireInside]

Originally Posted by Jason14h

Didn’t Trump win with that strategy ?

Identify a problem you can rally the masses around (economy) and point them at a perceived “villain”

Trump won with that strategy once. If Pierre wins (which I think is likely) it won't be because of that strategy. I think that strategy will end up hurting him if he sticks with it too long.

[OldDutch]

Originally Posted by KootenayFlamesFan

I'd like to see some more data concerning this claim. I've seen it before, but not sure if it's because it's self-inflicted.

I have a co-worker that makes enough money where he should live comfortably. But he and his wife spend money like drunken sailors, make terrible decisions buying large items that they shouldn't. Max out their credit cards purchasing things online just because they are on sale and a great deal.

I think a lot of our society spends far beyond their means, hence, they have to live paycheck to paycheck. Not because they can't find jobs or can only find low paying jobs, but rather because they are so horrible managing their money. I'm not going to pin that one on our government.

The #1 debt item in this country is housing. Something the government controls a fair amount of influence over. Multiple governments have let this run rampant for election reasons. In the end it screws everyone over except those receiving inheritance (oh wait government will take 50% of that, which is conflict of interest but another matter)

So to just say irresponsible spending is the reason for so many Canadians barely meeting ends is simplistic. If I was a 20 something in Vancouver or Toronto Who bought a house I probably strongly disagree my problems are my own making.

The government absolutely owns this. Not in whole but in major part. Their interests have caused huge equality problems in Canada (despite their claims to close that gap)

[KootenayFlamesFan]

Which is why I said I'd like to see some more data about it. I'm not claiming to know for sure. I don't. But neither do you, unless you have some proof you're not showing. I think we're both guessing to some extent right now.

[b1crunch]

Originally Posted by flamesfever

I think the number was 47%. I saw it on the internet so it must be true LOL.

I think a lot of people have taken their cue from the Federal Government, as far as spending is concerned.

Seriously? You can't actually believe that.

[SebC]

Originally Posted by flamesfever

Yes in terms of financial matters. Government handouts, low interest rates, low food and material costs, low energy costs, easy borrowing.

These are literally all signs of an economy struggling or of stimulus programs in response to said struggling economy.