Re: Oh Canada, Economic Collapse

reply to Oh Canada Economic Collapse. I like the Canadian economy. The federal government has paid down it's debt by 100 billion over the last 10 years.
Two problems we face.. 1) We are good little consumers, just like the U.S.
2) The U.S. is our biggest customer.

We'll probably take a hit, but hopefully our Canadian conservativeness will help us out in the short term and long term.

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• canada collapse
• economic collapse
• 2009 canadian bank run
• garth turner
• greater fool.ca
• calgary real estate
• canadian real estate
• canadian banking system

[montyloree]

printing debt free money:?

i think Canada started going into debt when we okayed social assistance etc.

We live a pretty high standard of living.. which costs alot of money.

We would have to as the federal government to cut all spending in order to pay down the debt. I'm sure this wouldn't be popular.

[derap34]

Attempting to change my standard of living recently, Couldnt agree more. I live in canada btw.

Just got a heating bill for 188 bux, not sure why its so high...

Wife and I decided to turn the heat completely off so right now im sitting with a coat on and a tower heater. The rest of the house and the cats are freezing lol, well see what that heating bill looks like soon here though with having all the lights off aswell.

[montyloree]

turning off the power is kind of extreme isn't it... especially in canada

[passerby23]

Did your video get cut off here? I kind of wanted to hear you say some more.

[montyloree]

It may have... i'll check into that... thanks

[g4truth7]

Theres no sovereignty of nations were all in the same boat.Whos on the coins,the Queen.Check out Canada's constitution.

[montyloree]

And the point being?

[endmentalslavery]

Saying that your glad the government has paid down the debt from $550 billion to $450 billion is like saying your glad your being thrown off a 20 storey building instead of a 30 storey building. The debt still far exceeds the amount of money that exists and is therefore immpossible to pay off. End all forms of slavery.

[dalailamike]

Why are we in debt in the first place, maybe you need to watch: the crime of the canadian banking system. If our money went to services and not the pockets of the bankers that print our money and live in some foreign country, we would have the world greatest country! We need to wake up to this reality! And demand that Canada starts printing its own debt free money as stated in our constitution!

[dynomike1964]

Soylent green is peeeeeople!

[Ian74263]

You have to cut back on things, and squeeze every penny. That's what N.S. is going to do, and we'll be debt free by 2025, of course if they stick to their plan.

[Shadoweye12]

@endmentalslavery but wouldn't you agree at the very least that it's going down?

[JFM135]

The challenge with this argument is that it doesn't include the future of fiat currencies. Central banks will not be valid in the future, since they don't respect productive capacity of economies. You can't print your way out of a fake market...fake is fake.  Some of it is real...but a huge part is pure fantasy. How do you balance books with hyper inflation and monopoly money? ...or maybe that isn't going to happen...if not...how is it possible that it won't happen.

[Jacobrester]

@chinaownsusa My head is not up the Usa's anus....I am fair...unlike most canadians...we have a lot to thank them for and if they wanted to they could send our economy in shambles....i deal with facts....they buy over 70% of everything we make...you can hate on them all you desire....the fact is we need them....and a currency backed by natural resources is very volatile....look at russia......and they are not as dire energy wise as you think

[chinaownsusa]

you say they are in for less pain than us. now THAT'S foolishness!!!! why bring up their oil supply? lol they can't get at it. and what am i being fooled about? of course canada will suffer, but we won't go bankrupt. get your head out america's anus!

[Jacobrester]

@chinaownsusa You talk foolishness.....our economy will come to a screeching crash if we turn our backs on the usa....they account for over a million jobs in Ontario alone...and dont be fooled....the USA has 25% of all the worlds coal supply and oceans of natural gas....they also have over a trillion barrells of oil shale...but economically it isnt feasible right now...we have been more restrained on our budget than the usa...no doubt but I believe the housing bubble is about to break

[chinaownsusa]

@Jacobrester how? they are 14 trillion in debt, and china refuses to buy any more treasuries and threaten to sell the bonds they have. we have natural resources, which we can sell to asia.

i agree the housing bubble is terrible. wtf was the feds thinking?!!!! having witnessed what happened just 2 short years ago in the states