Results 1 to 10 of 10
  1. #1
    Senior Member RangeBob's Avatar
    Join Date
    Mar 2014
    Location
    Ontario
    Posts
    44,173

    Canadians Demonstrate Rare Show of Unity: 98% Vote for Bigger Government, Higher Taxes, More Debt

    Oct 24 2019

    Mainstream media pundits, as usual, missed the key message when analyzing the results of Monday’s election, which returned Justin Trudeau’s Liberals to power.

    On paper the country was divided as never before, with no clear winner. The Conservatives, who won the popular vote, picked up a meagre 34.4% of ballots cast.

    Yet while Canadians can’t agree on a leader or how to divvy up the loot, they were unanimous on one important issue: they trust government, and they want it to do more.

    Once you filter through the double-talk, the Liberals, Conservatives, NDP, Greens, and the Bloc (who gathered a combined 98% votes) all put forward platforms that would increase overall taxes, spending, borrowing, and regulations during their mandate.

    These results provide key lessons for prudent investors and advocates of a free market economy.

    Vast bureaucracy, misleading statistics, collapsing productivity, and a growing debt cycle

    During the past three years we have highlighted growing danger signals that politicians are essentially flying blind and that due to vast bureaucracy, conflicting interests, and use of misleading data points they couldn’t stop the country’s downward spiral even if they wanted to.

    Productivity is collapsing throughout the system and gross domestic product hasn’t grown in major economies such as the U.S. in more than a decade (as calculated on a debt-adjusted basis, using a realistic deflator).

    Canadian public sector debts, when combined with the country’s private, household and financial debts (much of which are de facto government guaranteed) now total an unbelievable $8.3 trillion.

    That works out to nearly $1 million in debt for each Canadian under the age of 19, making the country’s youth the functional equivalent of debt slaves.

    The results of the recent election suggest that either Canadians aren’t concerned with any this or that they trust future governments to do better.

    Positive for democracy: bad news for free markets

    For those who believe in free markets, the results of the Canadian election are even worse than they appear. Maxime Bernier’s People’s Party of Canada, the only major party that could credibly promise to reduce the scope of government, got a meagre 1.6% of the vote.

    The only positive sign for advocates of sound public finances came from the Libertarian Party of Canada. Party leader Tim Moen—who advocated elimination of all taxes (except the GST), the privatization of the Bank of Canada, and a return to the gold standard—managed to keep the party on its feet, despite being banned from the debates and deprived of media coverage from all major outlets.

    “We are in a battle of ideas,” said Moen. “Right now even if a free market-oriented party won power, they would not be able to accomplish much. Things will not change unless we change the culture, and that process takes place one vote at a time.”

    Investors’ big decision: trust governments or trust themselves

    Gold, as is increasingly the case with all global macro developments these days, is a big part of the story.

    Last month’s spike in repo rates to an unheard of 10% in the interbank lending market indicates that banks don’t trust each other, despite the fact that they are increasingly quasi-government institutions.

    Only the intervention of the Federal Reserve, which promised to lend more to the banks directly and to start printing $60 billion a month to help fund the U.S. government’s current operations, helped cool things down.

    All of this—buried deep in news releases and couched in technical language that no one can understand—raises an important question: if the banks don’t trust each other, should investors trust them?

    The other choice investors face is whether to mirror the public’s faith in governments or hedge their positions with hard assets.

    As for Canadian voters: H.L. Menken once described democracy as the theory that the common people know what they want and deserve to get it: good and hard.

    hxxps://www.zerohedge.com/news/2019-10-24/canadians-demonstrate-rare-show-unity-98-vote-bigger-government-higher-taxes-more

  2. #2
    Senior Member Waterloomike's Avatar
    Join Date
    Aug 2013
    Location
    Bantario
    Posts
    10,137
    No matter how bad it gets, some people, 98% in Canada, want a state butt wiping service.

    Sickening really.


    Allow our Rightful Liberty or .....

  3. The Following 5 Users Like This Post By Waterloomike

    firemachine69 (10-28-2019), lone-wolf (10-27-2019), M1917 Enfield (10-27-2019), Magi (10-27-2019), SwissArmyMan (10-27-2019)

  4. #3
    Senior Member Aniest's Avatar
    Join Date
    Mar 2019
    Location
    Work in the Edmonton area
    Posts
    359
    they trust government, and they want it to do more.
    NO. Just No!

    Everyone I know, for the record, does not trust government, but does want the government to do better.

    Definitely an opinion piece by Peter Diekmeyer as it does not equate to what I hear.
    Lessons from history and events of today: "resist with all your might, because if you lose once, there will be a catastrophe for your people, and the world will ignore it."

  5. The Following User Liked This Post By Aniest

    Swingerguy (10-28-2019)

  6. #4
    Senior Member M1917 Enfield's Avatar
    Join Date
    Aug 2013
    Location
    Eastern Ontario
    Posts
    7,723
    Real hard times are coming and it is going to be brutal, all snowflakes and SJW's will become instinct!
    I live among lots of sheeple and dim witted who like to think they are good Canadians for voting Lieberal

  7. #5
    Senior Member RangeBob's Avatar
    Join Date
    Mar 2014
    Location
    Ontario
    Posts
    44,173
    Quote Originally Posted by M1917 Enfield View Post
    Real hard times are coming and it is going to be brutal, all snowflakes and SJW's will become instinct!
    If you're right that's astoundingly profound.
    If you're wrong that's just a typo.

  8. The Following 2 Users Like This Post By RangeBob

    firemachine69 (10-28-2019), Turtlehead (10-27-2019)

  9. #6
    Senior Member M1917 Enfield's Avatar
    Join Date
    Aug 2013
    Location
    Eastern Ontario
    Posts
    7,723
    Quote Originally Posted by RangeBob View Post
    If you're right that's astoundingly profound.
    If you're wrong that's just a typo.
    LOL!
    I live among lots of sheeple and dim witted who like to think they are good Canadians for voting Lieberal

  10. #7
    Senior Member wolver's Avatar
    Join Date
    Jul 2014
    Location
    North of North Bay area, ON
    Posts
    2,916
    As long as nobody comes to collect the monies we owe them, we'll go on getting further and further into debt. It's the Canadian way.

  11. #8
    Senior Member CLW .45's Avatar
    Join Date
    Jun 2014
    Posts
    3,110
    Note to government:

    Get off my back, your opinion of how I should live my life is of no concern to me.

    Get your hand out of my pocket, it is not possible for you to spend my money as intelligently as I will.

    Your assignment, and dammit you must accept it; is to recognize, respect, and protect the rights of my neighbours.

    Foremost among those rights is the right to defend life, liberty, and property with whatever firearms they deem appropriate in their circumstances.
    To show that men can travel to the moon and return, use the American experience.

    To show that public safety isn’t hurt by responsible individuals carrying to protect life, use the American experience.

  12. The Following 2 Users Like This Post By CLW .45

    Scoutertracker (10-27-2019), Swingerguy (10-28-2019)

  13. #9
    Senior Member tdod101's Avatar
    Join Date
    Feb 2015
    Location
    No where, and everywhere
    Posts
    3,051
    Government is the new religion you guys realize that right? With each passing generation religion in the traditional sense is forgotten.
    Let me off this planet!

  14. #10
    Resident Combine Pilot JustBen's Avatar
    Join Date
    Mar 2012
    Location
    Stavely, AB
    Posts
    4,463
    The article is bogus. 98% of people voted for a party that actually has representation in the HOC. 2% of people threw their vote away.

    If the CPC had promised a balanced budget, it might have cost them a bit of the popular vote, but people didn't vote for them because of the deficit.

  15. The Following User Liked This Post By JustBen

    Mark-II (10-29-2019)

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •