really does highlight the direction the British government has taken in the last decade
much like that of our current PM who is printing money like toilet paper here in CANADA, which is causing inflation that has spiraled out of control. Free-fall spending, throwing bad money after good money at problems without clear solutions and indebting future generations up to their eyeballs, whilst we have the lions share of natural resources in our own backyard which we sell off the the lowest overseas bidder to placate their trade assocations.
itās a mini oligarchy over here, but itās corporates not private individuals who hold the cards and very few of them are domestic. Iām sure @Arminius may somewhat agree with me here.
We could take some lessons from Australia in that regard, to give first option to Canadian companies over foreign investment.
where do I start? maybe the housing market, or the costs associated with moving goods across the second largest country on the planet with 1/10th the population density of our neighbors to the south, and fuel that costs 50% more.
the closest major city to where I live is 900km away, within our own borders. Seattle is only 300km. itās incredibly expensive to live here.
when the government is completely unable to balance the budget, year upon year. the burden of debt falls on the citizens in form of higher taxes.
Tax free day here is Jun 7, which means every cent that someone earns here (on average) over the course of the year up to that date goes to taxes. In America, itās Apr 16 for comparison purposes.
I donāt think there has been anything dodgy there. Given the situation it was always likely that Russian Banks would be getting hit in some way so you wouldnāt want to hold the shares.
How does the inflation in the housing market compare to that of Australia or New Zealand for example? Whatās the underlying reason for the inflation in the housing market, is it because of the low interest rates, or is it because of foreign investment moving in?
As far as Iām aware, Canada has seen a significant capital inflow from China and Hong Kong in the last decade or so, so how does it contribute?
Thatās got nothing to do with a low interest rate policy though.
Few governments are actually able to do so, especially in the last couple of decades.
And how does that compare to other countries with similar demographics?
It seems as though your post is really talking about challenges that Canada faces as a whole, whether due to your unique characteristics or otherwise, and not really due to Trudeauās government? Furthermore, it seems like rather little of it has to do with the āmoney printingā you were talking about.
the inflow has been into the housing markets as they try to hide their money. with the crazy market weāve had here the last 20 years, housing prices have increased 5-6x in value. Pretty good ROI on investment. Government has had to implement various taxes on empty homes and offshore ownership to try to close that investment module down as it leads to a shortage of homes on the market. not a good situation.
read the article I posted, pretty short summary of his shortcomings. He was a poor choice as leader then and heās even worse now.
I skimmed it quickly, but again thereās nothing there that is specifically unique to Canada. Look to your southern neighbour for example, or even the country this thread is the topic of.
Furthermore, household finances are nothing like a governmentās finances, and yet the author devotes a third of the opinion piece to that analogy, a myth which needed to die a long time ago. The author may have been āformerly a senior wealth management executive at a major Canadian bankā but they quite clearly donāt understand how economics works.
