SMT -- Do Debts And Deficits Even Matter Anymore
ฝัง
- เผยแพร่เมื่อ 21 พ.ย. 2023
- It is the morning after the day before, or in other terms, the day after the FES, the Fall Economic Statement. Was it a good day or a bad day for the Liberals as they try to climb out of their double-digit deficit to the Conservatives in the opinion polls? Bruce is here for a spirited discussion about that.
www.siriusxm.ca/TheBridgeCA
These guys are painful ! So out of touch with regular Canadians. No wonder Pierre is killing Trudeau in the polls.
I'm amazed that Bruce doesn't understand the basic principle that by increasing the base cost of producing products will increase costs for everyone.
@@user-ec2nn6ht9r A very dedicated and devoted Liberal Party hack
Every piece of every thing made has carbon tax added to it. Every person's movement involved has carbon tax added. It's a tax on every thing.
Liberal apologist with willful horse blinders on, who refuses to see anything negative against his ideological leaning.
How has Bruce made millions in data analytics? He’s completely myopic due to his excessive liberalism. Those mega liberal contracts must be lucrative.
sure he does. it is called Liberal math. 2+2=5
Inflation coming down doesn't mean prices are coming down. "The pain that people are experiencing... is less than it was." Noooooo. Not at all true.
Absolutely debts and deficits matter. This governments spendthrift policies are disastrous. They respond to inflation with spending announcements.
I was a card carrying Liberal in 2015. This government has completely lost me, and many many other common sense Canadians who care about fiscal responsibility. Once upon a time, the Liberal party was the party of pragmatism and common sense, and demonstrated fiscal prudence - e.g. Chretien/Martin governments.
This government is ideologically driven, and doesn't measure their policies by results but rather by intention. We've had enough of ineffective, inefficient but well-meaning actions.
Yeah debt should matter to anyone if they can do math. Any money spent on interest payments is money that could be spent on programs (or, preferably, left in taxpayers' pockets to spend as they prefer).
*What stops Peter Mansbridge from challenging the World Economic Forum Great Reset threat to our nation?*
*Did you know that Chrystia Freeland, Canada's Minister of Finance, (still) holds a managing directors chair on the World Economic Forum board of directors?* *Did you know that PM Trudeau has a 5 year $105,000,000 contract with the WEF that prepares Canada for transition to a WEF approved, no competition, Biometric Digital Currency operating system?*
*Fact:.. Trudeau Liberals paid the WEF for expert opinions that supported the creation of Canada's Carbon Tax plan.*
*Did you know that WEF Great Reset success before 2030, first requires North America to "become weaker" domestically, and on the World stage?* *The provable public record fact that no one in Parliament, or the Canadian Press has ever challenged World Economic Forum Great Reset policy, for years, should disturb all of us.*
*If anyone is (still) not concerned about the danger our nation faces from completely unchallenged WEF Great Reset support appearing in Canadian government policy, they have not investigated the WEF 2030 agenda yet.*
. *Public Record Fact:... Corporatism = Fascism*
*Did you know that the WEF agenda predicts "we will all own nothing by 2030, and we (the survivors) will all be happy"?* *This is all about the deliberate creation of economic chaos. Stagflation by WEF design is Freeland's goal (my opinion).*
. *Do you disagree?* *Does anyone?* *Why?*
I'm with you. I voted for Trudy in 2015 but never again.
Printing and spending more money than earned on exactly what? Social spending for votes? Politically correct thinking? This will not end well for anyone.
Disagree with Bruce, it was at best a neutral, probably bad, week for the Liberals. CPI might be down but some core numbers are up like housing and food.
Most discussion about the fall update has been framed in a neutral way, which I agree, the Liberals probably wanted.
Lastly they stepped in it when they blamed Harper for 1600 foreign workers for the battery plant. Don't stand in the halls of Parliament, like Franky Bubbles did, and plead ignorance when you signed the contract.
A good week for the Liberals should have zero negative headlines. This week was not that.
The only reason the press is reporting the budget in a neutral way is because Trudeau committed to pay 35% of their salaries from here on out. Someone remind me again how we are any different than Russia or China with state funded propaganda? 😂
Two old timers are gonna tell us how privileged we are to pay deficits for decades to come. I’m so happy as a millennial that I’ll never own a home because of the Liberal party. 😊 you’ll own nothing and be happy after all.
The housing in Canada thing started a long time ago - about 92
@@ethimself5064silly me. I forgot my parents raised me in a tent city.
@@ethimself5064umm, no it didn't.
@@ethimself5064my sister bought her house in Victoria BC for $300 000 in 2007. Blaming past governments for Trudeaus obvious fk ups is a ridiculous concept.
Also bringing in more immigration when we do not have the ability to house them was a very very obvious issue. The fact the Liberals didn't see it coming, speaks volumes to their education levels. Why would I trust a government that can't even foresee a simple issue like this?
@@socksrwooly Like I mentioned this actually started in 92 - just did
Interest rates down to 3.1. Right go to the grocery store, or to fill up your vehicle with gas, or go to renew your mortgage, and tell me how awesome the 3.1 percent really is
Thank u sir well said
Interest rates or inflation? 3.1% interest rates are long term normal
Before Trudeau the interest rate was 0.75 percent. After Trudeau the interest rate today is 5 percent. Our mortgage used to be $270 and it is now $1300 monthly.
@@JulietMartin2022 The interest rate was not 0.75% - where did you get this from? Thanks
@@JulietMartin2022 BS dude
I’m frustrated with a very narrow scope of thought about framing government policy. There’s no discussion of fiscal restraint and I don’t think much of the public believes the liberals are capable of responsible fiscal policy. I am also disappointed with the personal criticisms of conservative politicians which seem a stretch or at least lacking in the spirit of generosity.
Switzerland's government must balance a budget by law - inflation is 1.5%.
Debt matters . For the 2022/23 fiscal year, the federal government alone will pay interest of $34.7 billion according to a new study from the Fraser Institute . Imagine how much better off we would be if that money went to social programs instead of financial institutions .
the government spending- government and all the public pension with the high interest will drive this to even worse debt
a decrease in inflation only means that rate of price increases slows and does not roll prices back. High prices are baked in and will continue to rise.... re fuel prices, half the price is tax and the higher the price of fuel, the higher tax revenues.
The price variations would still happen with or without taxes, the question is what do we get for our taxes?
The country is mis managed.
Bruce Anderson: A human shield for the Liberal Party
His company gets lucrative contracts to “analyze “ data for Trudeau and his cronies.
"Do you remember that thing...."
"Probably not."
This speaks to me with recent events, seems like we forget that last crazy thing to happen in politics/events only a short time later due to the next crazy thing taking over... which everyone will soon forget.
HAVE MISSED YOU PETER GLAD I STUMBLED ON THIS SITE
Dear Peter and Bruce, former public servant advice 😀 its actually pronounced fez (FES)!
Freeland should have consulted the PM before issuing the FES so she could remind Canadians that "the budget will balance itself"....
How can you always spot a devoted Liberal Party supporter ?
A true blue Liberal would always call it "carbon pricing" and never a carbon tax.
More the price of diesel, if you're talking transport and agriculture.
The household fallacy describes the erroneous but commonly held idea that the federal government should operate its budget like that of a household which can run out of money. However, a household does not own a central bank which can create funding at will.
Ownership of the Bank of Canada allowed the monetarily sovereign government of Canada to sustain years of military spending such as WWII, to bail out big banks and corporations with hundreds of billions as it did after the financial crisis of 2008, and to engage in large-scale support to families and businesses as it did recently during the Covid pandemic.
Watch for the household fallacy in the ruminations of most pundits, politicians and even economists who claim that the government must restrain spending in order to save for rainy days ahead. Virtually all economic commentary today is based on ideas about the monetary system which are not merely confused but starkly and comprehensively counter-factual.
Countries have had central banks for decades. Most money in the economy is created by commercial banks. Money creation in the modern economy - Bank of England
Money creation in reality
Lending creates deposits - broad money determination at the aggregate level
Lending creates deposits - broad money determination at the aggregate level As explained in ‘Money in the modern economy: an introduction’, broad money is a measure of the total amount of money held by households and companies in the economy. Broad money is made up of bank deposits - which are essentially IOUs from commercial banks to households and companies - and currency - mostly IOUs from the central bank. Of the two types of broad money, bank deposits make up the vast majority - 97% of the amount currently in circulation. And in the modern economy, those bank deposits are mostly created by commercial banks themselves.@@user-ec2nn6ht9r
always happy to debate if you can get beyond emoting@@user-ec2nn6ht9r
Keep on dreaming. The interest on all the money the government borrowed will be approximately $60 billion yearly in a couple of years. This is more than the government spends on health care and about twice what we spend on the military. Imagine what the government could do with this money instead of paying interest.
How is Bruce in the data analysis business if he doesn’t understand basic economics? Trudeau’s carbon tax adds almost 15 cents per litre of gas. This amounts to only about ten dollars to each car fill up. BUT the compounding effect of the Trudeau carbon tax becomes painful when the farmers need to fuel their equipment and greenhouses and the truckers have to fuel their vehicles and the grocers have to fuel their stores…etc… Shame on you Peter for trying to make a mockery of food pricing. This is NOT a laughing matter. Consider visiting a local food bank and educate yourselves on the REAL state of our nation.
I do believe Canadians are concerned with amount of debt, when and if they compare our national deficit of 46,000,000.00 in a population of 40,000,000. People ??? My opinion. Best of luck with your attempt at obtaining your Liberal senate seats !!
3.1 is still well over target rate and other than gas, prices are still going up. Interest rates are not about to go down.
Why would anyone think supporting Ukraine is a good idea?
The short answer to why does turkey cost more in Canada than in the US is that we have supply management for turkey in Canada just as we do for milk, eggs and chicken.
Thank you for this explanation. I thought that might be the case -- marketing boards.
Bruce is so funny. Right off he says he doesn't likely remember something from a month ago. Join the "Seniors Club" Bruce. And as for the price of poultry, it has always been cheaper in the U.S. I don't know why - good question Peter.
Peter. Clean your camera lens!
Good show. Good discussions.
Trump didn't start any wars in his previous time in office. Am I wrong on that?
Correct - Just the same he is more than dangerous
He didn't. And the economy was ridiculously good. But we shouldn't let facts get in the way of the TDS. If you want to criticize Trump's governance, there are lots of legitimate complaints - high deficits (not nearly as high as Biden's), poor tax policy, and terrible treatment of trading partners (like, say, us).
@@alanj9978 Plus something like 40,000 business went bankrupt in the 2 years before covid
@@user-ec2nn6ht9r He would be declared legally insane if he was ever tested by a high quality shrink of a forensic shrink. Currently about 90 criminal charges he has. 🤣🤣🤣
Most informed Canadians are watching "committee " meetings. Liberals did not have a good week.
Bruce missed the easy joke that the Liberals have had a tonne of bad months over the last few weeks. 5:19
Bruce shocks his listeners, “I don’t agree with PP.” “Conservatives made a mistake” “ Conservatives are getting too arrogant”. 😂
The truth about Canadians in despair is upsetting the Liberals
and they are refusing to acknowledge how bad the despair in Canada is.
Recently came across this and I really enjoy the conversations! Big fan of all 3 of you and always look forward to hearing your insights.
Its great to find some level headed perspectives with good intent!
??? Here
Level headed? 😂😂😂😂😂😂. This has to be a Liberal bot account.
Bruce, is that you?
Peter isn't sitting on the shitter anymore when he is doing poop talk with Peter Mansbridge
What a biased load of crap.
2 devout Liberal Party supporters
i know, its sad and funny at the same time🤣
Yep. I envision both of these guys having Liberal party logo lower-back tattoos lol.
And, did you hear the part where Peter said he reads all the TH-cam comments, and because the commenters who have negative things to say "have a bunch of numbers after their name" he thinks we're not real people 🤣 talk about coping lol
@@AS-qg1xuLOL. Too funny
Well, this starts off as a false assumption. Turkey prices were down here too.