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Bond Yields and Economic Downturns
June 20, 2019
6:03 pm
Bill
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I agree that rates have to stay low because higher interest rates would trigger defaults, low rates are just prolonging the party for a while. But any political party that says it's cutting spending to tackle gov't debt is immediately toast, we vote for those who tell us the party continues. So to me it's incorrect to blame politicians, we regularly choose those who promise us the most freebies - it's very important to point that out, especially to young voters who will be the ones around to live through the consequences of voting choices they're making now. To me the next phase is that those with any money increasingly will be targeted (you now regularly hear calls from certain parties to tax "the rich"), will be relieved of it one way or another (savers, don't let people know you've got savings, you'll be viewed as an opportunity for "appropriation"), i.e. still lots of folks with some money in the bank and its forced re-distribution will keep the party going for a while yet.

June 20, 2019
10:37 pm
Retiredfa
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Margaret Thatcher: “The problem with socialism is that you eventually run out of other people's money.”

June 21, 2019
12:14 am
Loonie
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Retiredfa said
Margaret Thatcher: “The problem with socialism is that you eventually run out of other people's money.”  

There was a lot that Maggie and Ronnie chose not to understand.
The risk we face now is the increasing concentration of wealth stagnating in the hands of the few. There is no end to the favours they think they are owed, be it bailouts, legal manoeuvres, or tax considerations; and they can be counted on to oppose wage increases for those at the bottom of the heap.
https://globalnews.ca/news/4360299/wealth-inequality-canada/

June 21, 2019
12:29 am
Vatox
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hotmony said
How can there be less credit with super low interest rates..  

Because, if everything continues as it is you will eventually run into a situation where nobody wants to lend and rates will keep going down to get get people to borrow and spend. It will lead to a dead economy from a credit view. If loans get called, it’s totally over, but even without that, the debt exhaustion is more than enough to derail everything.

June 21, 2019
7:12 am
Bill
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The world's resorts/travel industry places, highways/airspaces and waterways, restaurants/cafes/bars, sports/entertainment/gambling venues, luxury shopping districts, etc are overflowing 24/7, our houses/vacation homes are bigger and more luxurious, Gates and Buffet and other ultra-rich giving most of their dough away now and when they die, my eyes see little evidence (notwithstanding Toronto Star or curated stats) of the concentration of wealth in the hands of the few. Especially when I compare to the world I saw back in the 1960s, it's like another planet. However (to my surprise) what remains always constant is the envy many clearly feel for anyone above them on wealth's ladder. To be fair, though, there are many folks whose primary sensibility is gratitude for this plush modern life we 99% enjoy.

June 21, 2019
8:57 am
rodeworthy
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Bill said
The world's resorts/travel industry places, highways/airspaces and waterways, restaurants/cafes/bars, sports/entertainment/gambling venues, luxury shopping districts, etc are overflowing 24/7, our houses/vacation homes are bigger and more luxurious, Gates and Buffet and other ultra-rich giving most of their dough away now and when they die, my eyes see little evidence (notwithstanding Toronto Star or curated stats) of the concentration of wealth in the hands of the few. Especially when I compare to the world I world's resorts/travel industry places, highways/airspaces and waterways, restaurants/cafes/bars, sports/entertainment/gambling venues, luxury shopping districts, etcsaw back in the 1960s, it's like another planet. However (to my surprise) what remains always constant is the envy many clearly feel for anyone above them on wealth's ladder. To be fair, though, there are many folks whose primary sensibility is gratitude for this plush modern life we 99% enjoy.  

Could it be you can see little evidence of concentrated wealth in the world because you are only looking up at the world's resorts/travel industry places, highways/airspaces and waterways, restaurants/cafes/bars, sports/entertainment/gambling venues, luxury shopping districts, etc. from that rung on the wealth ladder you are standing?

Look down - there is plenty of evidence of people living with poverty, persecution and horrible living conditions who are part of that 99% you describe. You have no right to include them in the 'plush modern life' you enjoy.

It is not that simple. Gates and Buffet are to be commended for their gifts to help the disadvantaged in the world. And for their efforts to organize other well-to-do society members to donate substantial portions of their wealth in this manner.

I don't deny many of us are living well but we have no right to assume everyone else is too. Inequality is rampant in the world and a part of the solution is redistribution. We are better than this. We have to do better.

June 21, 2019
9:23 am
AltaRed
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Kidd said
Yeah Loonie, i'm not fond of the Liberals either  

Touche!

June 21, 2019
10:03 am
Vatox
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Bill said
The world's resorts/travel industry places, highways/airspaces and waterways, restaurants/cafes/bars, sports/entertainment/gambling venues, luxury shopping districts, etc are overflowing 24/7, our houses/vacation homes are bigger and more luxurious.  

The phrase “The Roaring Twenties” rings a bell.

August 6, 2019
10:57 am
Vatox
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New 52 week low on 5 year bond yield!

August 6, 2019
11:35 am
Kidd
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Vatox said

The phrase “The Roaring Twenties” rings a bell.  

I'm old but not that old. I do remember the moon landing. We all sat cross legged on the gym floor and watched one of those moon landings, live on a black and white tube tv. Imagine, "live" from 250,000 miles away. Those portable hand held cameras were something in those days.

And you wonder why i question everything i hear today...

30 years in the auto industry and i've never seen anyone assemble anything wearing big bulky hockey gloves. Yet nasa were able to put together a few moon buggies and zip all over the Hollywood studio.

Yippee Ki-yay

August 6, 2019
12:01 pm
Bill
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Vatox, the Roaring 20s lasted a few short years while the world, 1st on over to 3rd, has seen unprecedented lifting of living standards over many decades now, never seen among the 99% before. (rodeworthy, as communism showed, redistribution only works if wealth for redistribution has been created in the first place. Gates had to live in a free economy that allowed him to amass his billions before he could redistribute much of it.) 2/3 of humans have a cell phone, it's incredible. The Star, Globe and CBC won't tell you that but the global economic numbers and stats are unequivocal in every measure, thousands lifted out of poverty almost every passing hour. People should be very proud of what we're accomplishing, dire poverty is on the run and the parents who now can feed their kids and have basic health care couldn't care less if another result has been a relatively few individuals with ludicrous wealth. Don't let your envy of the few above you on the ladder cloud your view of what's happened to the 99%.

August 6, 2019
12:25 pm
Kidd
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On Aug 5th 2019 the DOW dropped something like 800 points because the world was in crisis mode. Yet on Aug 6th 2019, the DOW is up 250 points... whew, supertramp had an album called crisis? what crisis?

As for Bill's reply about how my tax dollar has helped feed the poor, put a roof over their head and clothes on their back. Bill, i am very very tired of carrying the deadbeats of canada. When the liberals say free... it only means I PAY for it. Nothing is free.

Truthful numbers, and it is a sore point with me. Taking ALL deductions into account, from cpp, ei, union dues, income tax, property tax and sales tax. I have honestly paid to date, over 1 MILLION dollars. This free has to end... because it's killing me.

August 6, 2019
12:37 pm
Vatox
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Why is everyone talking about what has been accomplished? Does that somehow summon a power that will override any problems and issues that may come, or that are already here?

August 6, 2019
12:49 pm
Kidd
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Vatox said
Why is everyone talking about what has been accomplished? Does that somehow summon a power that will override any problems and issues that may come, or that are already here?  

Vatox, Are you saying, i will have to pay even more?

Once those with money start to leave this country (is there an "o" in country) and they will, like big businesses are doing in mass right now. Canada will hold it's rightful place on the world stage, that being near the very bottom.

August 6, 2019
1:27 pm
Vatox
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What I’m saying, is that the fabric foundation of our society is crumbling. The fact that you are upset about your tax cost is proof. What will happen to our tax costs is only speculation. But I’m quite sure that the status quo won’t survive as is.

August 7, 2019
12:37 pm
toto
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I'm with Kidd, tired of paying for the deadbeats of Canada.
Citizens that are poor don't have to lift a finger any more, taxpayer subsidizes everything.
Don't know if the election will change things much, but I certainly don't want to pay more taxes to enable the hand out citizens. There's drug addicts in our parks, streets, commercial areas flaunting their free methodone and naxalone kits!

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