you’re showing statistics comparing the deficit to a period of inflation where the interest rate crisis of the late 1980’s/early 1990’s when mortages hit 18%, but are talking about personal finances to which have nothing to do what the hell we’re talking about?
Not once have I mentioned personal finances. That’s YOU. I’m talking about the countries’ debt load and decision-making towards righting the ship? Balance, the budget? Noooo, let’s just allow 300,000 foreigners into the country when there’s already a housing crisis just so he can increase his tax base and put a huge burden on the failing healthcare system…
let’s just leave this one be, you and I. we’re not going to agree on this.
Right, I get it now. See, the reason why I talk about personal finances so much is because that was the analogy made in the original link that you said summarises everything that is wrong. And the reason why I focus on it is because of the automatic assumption that debt is bad, especially since it was a focus of the author of that original link.
My contention is that not all debt is bad. Debt undertaken to invest or support the economy at a time when it is in recession is (usually) a good thing. Running regular deficits is also not an issue if in the long run it results in additional growth in the economy that outstrips the deficits.
In any case, Canada’s debt to GDP is in fact falling, and you can see prominently when the massive spikes were, corresponding to the relevant global macroeconomic shocks then.
One of the suppositions that debt is a problem is that if you borrow too much, then you risk investors not wanting to lend you any more money, but no one told the Japanese:
“Netanyahu is on the brink of a power grab that will destroy Israel’s oft-repeated boast to be the only democracy in the Middle East. That may be too late to avert, but it would be one of history’s great ironies if the only people who can save Israel from itself turn out to be the Palestinians.”
Amazin how many “I was wrong pieces” have been written in the last two weeks from people who are still important voices in the discourse. One of the weird things is that the people who were wrong in advocating for it suffered no real consequences and the people who were right to question it and oppose it didnt get elevated
Stewart comes out of it better than Campbell in my opinion. At least he seems to have identified the issues early, whereas Campbell didn’t appear to think that Iran might have been a problem.
How could we, who went on the streets to protest against this obvious mistake/crime/calamity, have known more than those who were in power at the time?
Yes, and nobody’s taking any notice because they’re all too obsessed about who uses what bathroom.
The US has committed countless crimes and caused great harm in its time as a superpower, but there’s nothing to suggest that a world dominated by fascist dictatorships will be better.
Fascist dictatorships won’t be any better. But the point is that US and allies with their “mis-steps” and everything else has probably squandered their right to preach
