Preach on, Reverend Poillievre.
Thank you for applying some sanity to this situation

Without any kind of tax increase or new tax how will the government come up with the money for the release package? We can keep printing money forever.

I often wAnder what it would be like if the real Trudeau were the PM today. Not the offspring, which was the result of a union between Pierre and that promiscuous, commando, hippie chick.



I would love to see Pierre go toe to toe with Dotard. I think Dotard would know better than to cross paths with Pierre. Anyway, a rose is a rose is a rose.

:rukidding: You spelled Fidel wrong

Bwahahahaha............... 'cept Justin doesn't look much like....... maybe one of the Rolling Stones, gulolol. His lips looks normal.

In other words, its not in the bill. And, as others pointed out, the opposition made sure that wasn't included in the bill.

Borrow

Not quite.
Borrowing was a tool that ran its course (for Canada) during the 08 financial crisis.
Now, even the BOC is jumping on quantitative easing. They've agreed to purchase $1b of debt every week, through government bonds, mortgage backed securities, corporate equities, etc..
Where does that money come from? Out of thin air.
A tool used to "print money", inject it, and then once the economy is stable, the currency gets removed from supply. Removing it will supposedly keep inflation at bay and allow for rates to remain artificially low.
However, the debt, and interest on it, are NOT removed.
Another leg used to prop up the system of fiat currency.

When this system does run out of "tools", i fear that the crash will be much more devastating than if it had run its course and failed naturally without being continuously propped up.

This is just my basic understanding of this financial situation. If I'm wrong, on any of these points, someone with more knowledge, please correct me.

Welfare, I've stuck to my standards of simply ignoring your posts, as I've said before, you're a troll.

I'm curious though since you've been railing along in this post, and the COVID post, regarding these bailouts by the Trudeau government, knowing your disdain for him and "liberals".

Curious though, in 2008 when the Harper government granted bailouts to the banks, were you as bothered?

https://business.financialpost.com/n...secret-bailout

You will say you were, and I'd say you're a liar.

Borrowing is what countries do in these types of recessions, whether or not this is good practice can certainly be debated. Personally, I don't think many of these industries should be bailed out, as much of this is simply wealth distribution which will affect future Canadians in order to protect the current 10%.

Your lack of consistency is what is grating. What is good for the goose is good for the gander. Your viewpoints are objectively hypocritical as you attack the policies of one government, yet give a pass to the same policies as the previous government in which you support.

It's tired.

That article certainly puts into the question the whole narrative Canadians were told that the Canadian banking system was "sound" and had avoided making the same mistakes its US counterparts made.

You're confused.
I never mentioned a government bailout once in that post.
The BOC is not controlled by government.

Sad attempt at strawmanning btw.

This post is pretty close to what I would have said. The key, for any central bank, is to control inflation. I think if they can QE their way out of this and remove the money supply after. Then BOC would have pretty much saved us from a recession/depression. We can only sit and watch as it unfolds.

For the record, as I recall, the borrowed or saved companies for the most part paid back their debt, with interest. So the goverment made money from lending companies cash.

I wonder if the goverment is going to bail Bombardier or Air Canada. They're in for a world of hurt.

History has shown that the GoC is unwilling to let AC fold. AC will continue to be around. Westjet would've been the worry. However, now that they have a new owner with deep pockets (ONEX), I suspect WJ will also weather this storm and be around when its all said and done.

https://www.cbc.ca/news/politics/cha...ough-1.5530542

Whats this guy going to do when he is not the leader anymore. He might have to get a second job.


https://www.thestar.com/politics/fed...s-minivan.html

And WTI just plunged 321% as people came to realize the OPEC deal was bullshit and you can't just turn off the taps of shale oil production. Permian basin reservoirs are 100% full. WTI is now -$35 USD a barrel. Even OPEC is down to $17 but they don't give a fuck. Canada could have been in a reasonable position to weather this but blocked pipelines, refineries, and other infrastructure that would have diversified our market and given us options have left us totally exposed. Game over.

https://a.c-dn.net/b/23yraC/Crude-Oi...art4202020.png

Congratulations to the ignorant that wanted the end of the energy industry, they've gotten what they want thanks to COVID and OPEC. We are almost certain to enter the next great depression now as the North American economies will crater.

Just for a little perspective. The negative WTI prices are for contracts that expire tomorrow. For contracts of any longer duration, prices are in the more normal - albeit still low -$20 range. The only people who would hold a futures contract that expires tomorrow are the people who physically want the oil. And, prices are going negative because nobody is demanding the oil and storage facilities are already full.

Today's flash crash were a limited number of sellers (trading volume was low today) realizing that the game of musical chairs for the month of May was coming to an end and they would be stuck with physical inventory with real holding costs. So, it was rational for them to pay someone to take it. This is not really indicative of anything long-term.

IMHO, I'm not that optimistic about June's future either.

It goes into trading right after the May one ends. And with many countries continuing in lockdown or quasi-lockdown, how much demand can the market create under this kind of situation?

I know there are talks of re-opening economies, but really, it would be only in a very limited capacity. Even looking into June/July, I'd say even 1/3 of re-opening would be the most optimistic scenario.

Today's pricing was so deep into the negative territory, we aren't talking a few cents per barrel, it was -$40 at one point. It gives you how bad the demand for oil actually deteriorated and how limited the storage the world currently has.

All that glut of oil has to be sold down the road and the market continue to pump out millions of barrels per day and again, with nowhere to go. So we are flooded in a sea of oil. Refineries don't want them. Storages are full/too costly. Pending a major cut in production, I just don't see the price improving significantly. It's just a matter of time June contract holders realize that the situation isn't improving and start dumping their holdings again.

$9 billion student aid packages. Details to come still - sounds like students will get at least $1250/month for those who can't find work

https://nationalpost.com/news/canada...tudent-benefit

^ while I don't agree I understand why we might have to help them.

He did say NO to supporting everyone; if you have a job, there is a better need to help those who doesn't have a job right now which is fair.

Trudeau refuses calls to exclude tax haven companies from COVID-19 bailout

Fuck that!

https://www.cpj.ca/writing-letter-your-mp

?