# Morneau Resigns



## Topo (Aug 31, 2019)

I thought Morneau and Trudeau were in this together (WE Charity feast/scandal). What happened? Who dumped who?


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## rl1983 (Jun 17, 2015)

Trudeau probably dumped Morneau to save face. Really hope he's next...


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## Jimmy (May 19, 2017)

Morneau forgot about the $41 k in expenses. Trudeau is at least as bad while WE enriched his family w over $500k thinking it didn't' appear to be a COI . He should resign too but wont


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## gardner (Feb 13, 2014)

Morneau took the bullet. It could be no other way.


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## Topo (Aug 31, 2019)

Trudeau completely threw Morneau under the bus, it seems.


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## james4beach (Nov 15, 2012)

gardner said:


> Morneau took the bullet. It could be no other way.





Topo said:


> Trudeau completely threw Morneau under the bus, it seems.


How do you come to this conclusion?

Could Morneau not make his own decision to resign?


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## newfoundlander61 (Feb 6, 2011)

I have a feeling that their are many others that have a hard time working with our PM. There were several questions he did not directly answer but side stepped.


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## OptsyEagle (Nov 29, 2009)

I would think that if one was going to throw someone under the bus they would make it look more like that. I suspect that Morneau has just had enough of politics. I don't know why wealthy people go into the game. I suppose it is an ego thing. 

In any event, looking at Canada's finances, he was about the worst finance minister in the history of the country. Our children will be paying for his so called service for the rest of their natural lives. That accumulated debt is massive and will need to be serviced by our children long after that idiot is gone. Let's just hope we don't get another one.


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## Topo (Aug 31, 2019)

james4beach said:


> How do you come to this conclusion?
> 
> Could Morneau not make his own decision to resign?


It was his own decision. But it seems that there were a lot of leaks to push him out. It would have been justified if Trudeau was not in a sense part of the same scandal. Since Trudeau's family are implicated in a conflict of interest issue, he is not in a moral position to judge Morneau. Politically, however, he is the boss and can dispose of problems as he wishes.


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## calm (May 26, 2020)

OptsyEagle said:


> Our children will be paying for his so called service for the rest of their natural lives.


I keep hearing how horrible it is that our kids will be paying or the debt for an enternity.
If we put our minds to it and decided to pay off all our debt and financial obbigations/guarantees ...... How long would that take?

I am thinking it would take countless hundreds (perhaps thousands) of years.
Is debt not just a fantasy? .... Why not borrow the funds needed to pay the interest?


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## Thal81 (Sep 5, 2017)

Chrystia Freeland was selected to replace him... it's a good pick, but she should be PM not finance minister.


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## like_to_retire (Oct 9, 2016)

Topo said:


> It was his own decision. But it seems that there were a lot of leaks to push him out. It would have been justified if Trudeau was not in a sense part of the same scandal. Since Trudeau's family are implicated in a conflict of interest issue, he is not in a moral position to judge Morneau. Politically, however, he is the boss and can dispose of problems as he wishes.


And dispose he did. Surely no one believes that Morneau quit? He just finished a campaign only 10 months ago to get his seat as an MP and is in the middle of one of the biggest financial crisis in history and he decides to quit? - no he was fired. The problem with revealing that he was fired over the WE scandal would then mean Trudeau would also have to go, so it's much better to say he quit.

And seriously, a journalist as finance minister - sigh.......

ltr


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## Beaver101 (Nov 14, 2011)

OptsyEagle said:


> I would think that if one was going to throw someone under the bus they would make it look more like that. I suspect that Morneau has just had enough of politics. *I don't know why wealthy people go into the game. I suppose it is an ego thing. *


 ... surely you jest. It's simple, it's GREED (apart from the ego thing). They got the money, now they want the power. Or more like more power, more money.



> In any event, looking at Canada's finances, he was about the worst finance minister in the history of the country. Our children will be paying for his so called service for the rest of their natural lives. That accumulated debt is massive and will need to be serviced by our children long after that idiot is gone. Let's just hope we don't get another one.


 ... anybody but their kids. 

Of all people, Morneau (with his own finance firm previously or an inherited one) should have known better. But I guess the greed got the better of him or one of his memory lapse... of not recusing himself. I guess the $200 fine for not declaring the French villa was just not enough.


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## calm (May 26, 2020)

like_to_retire said:


> And seriously, a journalist as finance minister - sigh.......


Chrystia Freeland is a good choice. She is a trained propagandist.
Our financial system is a Religion of Faith and She can talk "Magic" with ease.
Financial Wizards are like religious zealots and are like magicians and are identical to preachers who have a Phd with a certificate of Christendom.


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## Beaver101 (Nov 14, 2011)

^


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## OptsyEagle (Nov 29, 2009)

calm said:


> I keep hearing how horrible it is that our kids will be paying or the debt for an enternity.
> If we put our minds to it and decided to pay off all our debt and financial obbigations/guarantees ...... How long would that take?
> 
> I am thinking it would take countless hundreds (perhaps thousands) of years.
> Is debt not just a fantasy? .... Why not borrow the funds needed to pay the interest?


That is called compounding and it is just a quicker way for our country to hit the debt wall. At that time we will then be required to print money until the printing presses are absolutely smoking and that of course will kill the wealth of everyone via a major devaluation in our currency.

I would much prefer a little more financial responsibility towards government finances. If we can't generate the money our society needs for its current citizen's then we need to cut back on what our societies current citizen's are spending. To steal money from a future generation to meet the whims of the current generation is just wrong.


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## calm (May 26, 2020)

I figure that once our national debt and financial obligations became so large that it would take more than a couple of hundred years (even thousands of years) to become square ..... shows that it is just fantasy talk. A joke, which allows the financial wizards to claim that their faith in the religion of economics is the true God.


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## like_to_retire (Oct 9, 2016)

calm said:


> Chrystia Freeland is a good choice. She is a trained propagandist.
> Our financial system is a Religion of Faith and She can talk "Magic" with ease.
> Financial Wizards are like religious zealots and are like magicians and are identical to preachers who have a Phd with a certificate of Christendom.


 Good one Calm...........

But hey, Finance Minister is just a side gig since she's still Deputy Prime Minister of Canada and likely will still hold her position as Minister of Intergovernmental Affairs.

ltr


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## calm (May 26, 2020)

like_to_retire said:


> Good one Calm...........


A longer version is here:








My Covid-19 Finance Plan


On January 27th, I purchased 13 ounces of gold wafers from the TD bank @2135 per oz Canadian. ($27,775.00) I emptied my bank account with 60 thousand cash. I am seriously thinking about moving out of the city of Hamilton and into a small community where subway/bus service is not essential.




www.canadianmoneyforum.com


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## andrewf (Mar 1, 2010)

Trudeau left him to twist in the wind. The lack of support/defense from Trudeau was a very clear message that he no longer enjoyed the support of the PM. 

I think this whole thing is a bit of a nothingburger.


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## doctrine (Sep 30, 2011)

By not revealing the actual reason(s) for leaving, and instead giving that steaming pile of a news conference where virtually nothing said was true or even worth the air consumed in the room, it just opens more room for questions. It looks like a burning dumpster fire to many analysts. A finance minister replaced in the middle of an economic crisis with the government burning its balance sheet to the ground and saddling generations with hundreds of billions of debt. Yes, nothing to see here. A $350 billion deficit in 1 year may be the right move, but the fact the finance minister is pushed out is absolutely huge news. Why has the PM "lost confidence"? 

All you know is that nothing that was said at that conference, and none of the "leaks" from the last few weeks, have any resemblance to the actual truth, and are meant to distort and present the Trudeau's government perception that they want the public to believe.

Maybe Morneau decided to leave of his own accord before more news gets out. Rats leaving the sinking ship, and all. Maybe Trudeau has only started the dumpster fire behind the Bank of Canada, and Morneau wants nothing to do with the fiscal destruction going on. Who knows? They certainly didn't say anything yesterday.


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## james4beach (Nov 15, 2012)

andrewf said:


> Trudeau left him to twist in the wind. The lack of support/defense from Trudeau was a very clear message that he no longer enjoyed the support of the PM.
> 
> I think this whole thing is a bit of a nothingburger.


Yeah, same here. And we've got much bigger things to deal with as a country. We'll be lucky if this doesn't turning into a prolonged depression.


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## kcowan (Jul 1, 2010)

I think Carney's return has much to do with the timing. Maybe he can be introduced as a financial advisor to JT.

Also Trudeau's errors in judgement can be put down to just that whereas accepting $41k in personal expense is theft/bribery. Forgetful CFO? I don't think so.


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## calm (May 26, 2020)

I think Trudeau is going to allow the Bank of Canada to print Canadian Dollars and not continuing to borrow American Dollars from the Economic Terrorists on Wall Street.

I don't think that a person like Morneau would agree with this type of banking and thus resigned.

The First Bank of the People of Canada








Home | Public Banking Institute


Public Banking Institute is a non-profit that educates, supports and guides the movement creating public banks whose mission is public good.




www.publicbankinginstitute.org





The price of gold shows us that many are abandoning the American Dollar.

"Bank failures are caused by depositors who don't deposit enough to cover losses due to mismanagement."
--D. Quayle--

For over 30 years, from 1939 to the early 1970’s, the Bank of Canada was used to finance a significant portion of government debt at cost (as low as 0.37%). During the 1970’s, under Pierre Trudeau, this changed so that government has been borrowing almost entirely from the private sector – at commercial interest rates – instead of from its own bank at very low rates. This same crazy practice continued under Brian Mulroney who made it worse in 1991 by eliminating what was known as the “statutory reserves”, a mechanism for controlling inflation without having to resort to the destructive use of high interest rates.

When Paul Martin took over as Finance Minister he realized that he had to bring Canada’s debt under control, but instead of attacking the cause of the problem – which was and is to finance government debt through the private sector instead of through its own bank, the Bank of Canada - he attacked government services, giving the impression that we had been “living beyond our means” and had to cut back. In fact, it was not public services which led to the debt, but the cost of compound interest which, according to StatsCanada, accounted for 94% of the debt.

From 1995, the year when Paul Martin as Finance Minister declared war on the deficit, to 2002 Canadians paid $594 billion in unnecessary interest. That is the real reason we don't have enough money for health, education, roads or anything else.

Some will say that using our public bank will cause inflation, but in the 30 years that it was used as it should be inflation never got out of control. In 1950 the inflation rate was 2.8% and, while it rose and fell over the years, was only 2.9% in 1971 (just before the sudden increase in oil prices). On the other hand, if increasing the amount of Bank of Canada money in circulation is supposed to cause inflation, we would expect that decreasing it would reduce inflation. Instead, just the opposite happened; inflation increased from 6.4% in 1978 to 11.4% in 1980 along with a huge jump in public debt when the government was using the Bank less.





Sponsorship scandal - Vive







www.vivelecanada.ca


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## bgc_fan (Apr 5, 2009)

Thal81 said:


> Chrystia Freeland was selected to replace him... it's a good pick, but she should be PM not finance minister.


Finance minister is seen as the 2nd most powerful minister in the Cdn government. It's not unrealistic to see if this is a trial run to see how she does. If she does well, it solidifies her credentials to be prime minister if something should happen.



andrewf said:


> Trudeau left him to twist in the wind. The lack of support/defense from Trudeau was a very clear message that he no longer enjoyed the support of the PM.


There's been some speculation that there was a difference in opinion regarding a push to transition to a green economy. A transition that Morneau hasn't been supportive of doing. So that could be another factor. Canada: departure of finance minister suggests Trudeau will pursue ‘green’ recovery plan



kcowan said:


> I think Carney's return has much to do with the timing. Maybe he can be introduced as a financial advisor to JT.


That's been in the air since his return. Maybe as special advisor, but I doubt Carney would ever consider getting into politics as an MP.


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## Topo (Aug 31, 2019)

Thal81 said:


> Chrystia Freeland was selected to replace him... it's a good pick, but she should be PM not finance minister.


Just watched the tail end of PM and her presser. She seemed so anxious and fidgety standing in the back, taking deep breaths and making grotesque faces. Maybe too happy to contain herself. Quite funny!


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## GreatLaker (Mar 23, 2014)

Here is our new Finance Minister counting her toes. After all a finance minister needs to count past 10.


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## sags (May 15, 2010)

The whole plan is now unfolded.

There was the WE scandal, but that didn't play much of a role in Morneau's decision to leave.

He already stated he didn't plan to run again, and there usually is an election 2 years into a minority government.

The Liberals prorogued Parliament. They will resume with a speech from the Throne and will set their new agenda and ask for a mandate.

Morneau doesn't want to wait and then leave, so he decided to go now. Freeland can handle the duties until after the new agenda is announced.

I expect the Liberals will create the programs they want and the opposition parties can give the Liberals a "mandate" or there will be an election.

The Bloc says they will vote against the government unless Trudeau resigns.The NDP have a wish list for their support. The PCs....who knows.


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## sags (May 15, 2010)

The question now is what will be contained in the new budget when Parliament renews.

More CERB or possibly a UBI, universal day care, and increased unemployment benefits are on the NDP wish list as the cost of their support.

Thus far in the minority government, the Liberals and NDP have been holding hands. We will see if that continues forward.


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## andrewf (Mar 1, 2010)

Topo said:


> Just watched the tail end of PM and her presser. She seemed so anxious and fidgety standing in the back, taking deep breaths and making grotesque faces. Maybe too happy to contain herself. Quite funny!


I think those are just her mannerisms. She is a bit awkward.


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## andrewf (Mar 1, 2010)

I have always been kind of lukewarm to Morneau. He seemed fine, but didn't really make an impression on me.


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## sags (May 15, 2010)

GreatLaker said:


> Here is our new Finance Minister counting her toes. After all a finance minister needs to count past 10.
> 
> View attachment 20509


Pretty poor photo shop job.


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## kcowan (Jul 1, 2010)

He made an impression on me when he attacked small business for using their businesses as a piggy bank. It was clear he had no idea how business works in Canada. Trust fund kid.


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## yyz (Aug 11, 2013)




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## yyz (Aug 11, 2013)

You think she could get a notebook instead of using her hands all the time. Wonder who gets the job of carrying around her platform to stand on to make her look taller?


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## MrMatt (Dec 21, 2011)

bgc_fan said:


> Finance minister is seen as the 2nd most powerful minister in the Cdn government. It's not unrealistic to see if this is a trial run to see how she does. If she does well, it solidifies her credentials to be prime minister if something should happen.
> 
> 
> 
> ...



I think Freeland already is the PM, Trudeau just occasionally comes and makes a mess of something.


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## andrewf (Mar 1, 2010)

yyz said:


> View attachment 20512


She seems a bit eccentric to me, but it sounds like she is very effective. Doug Ford sings her praises, for whatever that's worth.

Compared to Trump, how could anyone take issue with scribbling notes on your hand?


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## sags (May 15, 2010)

A Rhodes Scholar, business journalist, author, trade negotiations, deputy PM......sounds pretty well rounded to me.

Jim Flaherty was a lawyer. Joe Oliver had a business background. I don't think there is much doubt that Flaherty was the better Finance Minister.


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## Mechanic (Oct 29, 2013)

Trudeau is a waste of time and seems like Freeland does his job for him anyway. Now she's taking over Morneau's job too ? I sure wish Trudeau would have left too, he's costing us a fortune.


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## SixesAndSevens (Dec 4, 2009)

calm said:


> I think Trudeau is going to allow the Bank of Canada to print Canadian Dollars and not continuing to borrow American Dollars from the Economic Terrorists on Wall Street.
> I don't think that a person like Morneau would agree with this type of banking and thus resigned.


What?
That doesn't compute at all...Canada has fairly low USD debt.
Most of our debt is denominated in CAD$.


> From 1995, the year when Paul Martin as Finance Minister declared war on the deficit, to 2002 Canadians paid $594 billion in unnecessary interest. That is the real reason we don't have enough money for health, education, roads or anything else.


Keep in mind that most of that $594B went into Canadians' pockets - both individual and institutions.
Most of the debt was held internally, mainly by Canadians in their retirements accounts, pensions, and by insurance companies, annuities, endowments and so on.
So most of that $594B got recycled into the economy.

I don't agree that it is "unnecessary" interest.



> Some will say that using our public bank will cause inflation, but in the 30 years that it was used as it should be inflation never got out of control.


That is because during those 30 years, everyone was on the Bretton Woods gold standard.
Inflation was fairly low under the B/W gold standard, not just in Canada, but throughout the developed world.
Something changed on 15th August, 1971....



> In 1950 the inflation rate was 2.8% and, while it rose and fell over the years, was only 2.9% in 1971 (just before the sudden increase in oil prices)


Something else happened in 1971 as well 



> On the other hand, if increasing the amount of Bank of Canada money in circulation is supposed to cause inflation, we would expect that decreasing it would reduce inflation.


Inflation is a function of quantity of money and velocity.
If velocity is going down while quantity of money is increasing, you will get disinflation, not inflation.
As a side note, many mainstream economists are now starting to question whether increasing the central bank balance sheet through QE may cause disinflation instead of inflation.
Back in 2011 - 2012, academic papers by Prof. Fekete and Sandeep Jaitley showed that Fed-style QE causes deflation, not inflation.

Sorry for the digression from the Morneau topic.
IMO, the Morneau thing is just politics...he's the fall guy for the WE scandal.
He is going from one cushy job to another at the OECD (just like Mark Carney did).
These guys just keep hopping from one cushy job to another...


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## sags (May 15, 2010)

Canada is in excellent shape in relation to our peer countries.

Canada is the envy of the world for the COVID response and the government supports for Canadians that kept the economy alive.

When the opposition parties can't formulate a single example of what they would do instead of what the Liberal government has done, it is clear and convincing proof of how well the Trudeau government has handled the situation. Whining and banging on the table isn't helpful and Canadians know that.


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## Retired Peasant (Apr 22, 2013)

Mechanic said:


> I sure wish Trudeau would have left too, he's costing us a fortune.


You ain't seen nothin' yet.


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## sags (May 15, 2010)

Retail sales in Canada were up 23% in June. They are at a higher level than before the COVID hit.

The government support programs have worked and saved our economy. It isn't over yet, but we will have an economic base to grow from.

The alternative was an economic collapse and a depression. 

Listening to the Conservatives, that is what they wanted to happen so they could blame Trudeau for it.



https://www.cbc.ca/news/business/retail-sales-1.5694906


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## MrMatt (Dec 21, 2011)

andrewf said:


> She seems a bit eccentric to me, but it sounds like she is very effective. Doug Ford sings her praises, for whatever that's worth.
> 
> Compared to Trump, how could anyone take issue with scribbling notes on your hand?


Doug Ford is an underrated but very capable politiican and leader. Many people still think he's Rob Ford.

Freeland is generally competent, she's wrong and I don't like her politics, but she does her job well.


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## andrewf (Mar 1, 2010)

MrMatt said:


> Doug Ford is an underrated but very capable politiican and leader. Many people still think he's Rob Ford.


I'm not decided on him. He seems to have recovered thanks to the COVID crisis. It's not hard to have people rally around you in a crisis. But he either had bad judgment, bad advisors or both when he started his term. He went from PR disaster to disaster and rapidly was as unpopular as the Liberal government he defeated, quite an accomplishment when it took the Liberals over a decade and lots of scandals to achieve that.


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## sags (May 15, 2010)

We shall see about Ford.

Early on he was listening too much to the right wing "cut this and cut that" crowd and it all blew up on him. He reversed decisions, got rid of a few people and since then has risen in popularity.

He speaks well of Trudeau and Freeland, and they of him.

The latest good news for Ontario is that 3M is going to manufacture millions of quality N95 masks in Brockville, Ontario.

They will be the first Canadian made masks and they can export to the world. Trudeau and Ford worked together on the deal.


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## MrMatt (Dec 21, 2011)

sags said:


> We shall see about Ford.
> 
> Early on he was listening too much to the right wing "cut this and cut that" crowd and it all blew up on him. He reversed decisions, got rid of a few people and since then has risen in popularity.
> 
> ...


Nothing blew up on Ford, he's been doing an awesome job.
Even now he's got the updated math curriculum ready to go, after fixing the sex ed curriculum rollout. To be fair, most of the problem with the old curriculum was the very poor rollout.

The problem with government spending is it is still growing too high. I'm getting more into harder assets, not traditionally a gold bug, but there is no way you can spend like crazy.
The federal government isn't even trying to be responsible, where is there budget?
They still haven't made the 2020 budget, and the year is almost over.
Our spending is totally out of control.

Ontario has been making masks since April.




__





CityNews







toronto.citynews.ca





Now that it's almost September, and after Trudeau has given out millions to companies who don't have factories and can't make masks, I'm glad he finally got in touch with Ford, who actually has a clue how to get things done.


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## sags (May 15, 2010)

These are N95 masks, brought to Canadians by 3M, Doug Ford, and our beloved PM.


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## MrMatt (Dec 21, 2011)

sags said:


> These are N95 masks, brought to Canadians by 3M, Doug Ford, and our beloved PM.


My point is that Doug Ford has been working on this for months.
Actually delivering masks in APRIL. You claim these are the first masks, but they're not.

Of course your love for the most unethical PM in Canadian history knows no bounds.
Can't let little things like facts get in the way of the unending praise.

I'm really curious, how much money does Trudeau send you? It's got to be quite a bit to love him this much.


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## andrewf (Mar 1, 2010)

MrMatt said:


> Nothing blew up on Ford, he's been doing an awesome job.


The people of Ontario clearly didn't agree with you. Late last year, Ford was deeply unpopular. COVID saved his bacon.









338Canada: How bad things are for Doug Ford - Macleans.ca


Philippe J. Fournier: If an election was held today, the deeply unpopular PCs would be tied with the still leaderless Liberals




www.macleans.ca


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## like_to_retire (Oct 9, 2016)

andrewf said:


> The people of Ontario clearly didn't agree with you. Late last year, Ford was deeply unpopular. COVID saved his bacon.


So you've just proven how incredibly shallow and fickle the voting public is.

The Liberals in Ontario near bankrupt the province from 2003 under Dalton McGuinty and then Katheleen Wynne from 2014 to 2018. Finally after all that destruction the public decided to change to a fiscally responsible Conservative government under Doug Ford. He clearly told everyone what he was going to have to do and he did it by cutting what needed to be cut. 

The voters couldn't believe that someone would actually cut something instead of handing out free money, so they decided they didn't like Doug Ford any more. What did they expect would happen - perhaps that the budget would balance itself?

The Conservative always have to step in (just as they will federally, eventually) and then they clean up the mess, no one likes it, and votes back in the idiot Liberals. A continuous cycle.


ltr


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## andrewf (Mar 1, 2010)

Well, that is one take on it! It's not even clear to me that Ford was being all that fiscally conservative. He was doing more Rob Ford-style populist conservative things but still spending quite freely.

Ford did several unpopular things he didn't mention during the election. The whole Toronto council fiasco was a totally unnecessary own-goal. He didn't campaign on it. He probably could have gotten away with it if he made the change for the following election subject to some public consultation. 

Seems to me that lately he has maybe ditched some of the Rob Ford-advisors/barnacles and is governing more broadly rather than for the narrow 15% or so that are populist conservative types. I was inclined to vote Conservative in 2018 had Elliot been the leader. Ontario needed a serious conservative premier. Doug was not serious.


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## MrMatt (Dec 21, 2011)

andrewf said:


> The people of Ontario clearly didn't agree with you. Late last year, Ford was deeply unpopular. COVID saved his bacon.
> 
> 
> 
> ...


He was doing what he was elected to do, and what he said he was going to do. My biggest criticism is that he was too slow and too soft in his approach.

Some people simply hate Conservatives, because they hate Conservatives.
Even today people will blame Harris for the Chretien budget cuts, but that's political partisans for ya.


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## like_to_retire (Oct 9, 2016)

MrMatt said:


> He was doing what he was elected to do, and what he said he was going to do. My biggest criticism is that he was too slow and too soft in his approach.


I agree. Unfortunately, Doug Ford decided that the entitled pubic was close to revolting with pitchforks after the cuts he made and had to back off. What else could he do? Everyone was so use to getting free money, it was a shock.

The public, that is made up of mostly Liberals, just like this website, feel they should be able to spend as much as they like since their children / grandchildren will eventually pay for it. That is the Liberal mantra.

It's tough to be fiscally responsible. Liberals and NDP supporters don't understand it. They want other generations to pay for government largess.

ltr


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## MrMatt (Dec 21, 2011)

like_to_retire said:


> I agree. Unfortunately, Doug Ford decided that the entitled pubic was close to revolting with pitchforks after the cuts he made and had to back off. What else could he do? Everyone was so use to getting free money, it was a shock.
> 
> The public, that is made up of mostly Liberals, just like this website, feel they should be able to spend as much as they like since their children / grandchildren will eventually pay for it. That is the Liberal mantra.
> 
> ...


That's the thing, they don't care about fairness, they're just greedy.


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## kcowan (Jul 1, 2010)

The last responsible Liberal was Paul Martin. Yet he was a lousy PM. Not nearly as bad as JT but it did not matter.


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## MrMatt (Dec 21, 2011)

kcowan said:


> The last responsible Liberal was Paul Martin. Yet he was a lousy PM. Not nearly as bad as JT but it did not matter.


Martin was capable in a lot of ways, but he was no match for the political skill of Chretien.


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## sags (May 15, 2010)

I have yet to hear from any Canadian political party on how they would balance the budget.

Cutting spending involves cutting social programs. It could be done in a smart way, but it alone wouldn't produce the necessary results.

Raising revenues are also part of the equation. I want to know how the political parties are going to do both to balance the budget.

Yearly surpluses and a growing economy will drive down the debt to GDP, and that should be the end goal.

The Conservatives get a new leader today. It is an opportunity for the new leader to show Canadians what they got.

If the new leader has no plans by now.....they are blowing smoke and have no clue how they would change things.


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## calm (May 26, 2020)

Why do Canada’s wealthiest families get huge tax breaks?
If you’re a billionaire looking to pass on your fortune tax-free to your kids, Canada is a great place to do it.

For example, consider Tobias Lutke, the founder of Shopify, which recently surpassed Royal Bank of Canada as the TSX’s largest listed corporation measured by market capitalization. According to Forbes, Lutke is now one of the richest billionaires in Canada, with an estimated net worth of $8.4 billion (U.S.). 
Globally a staggering $8.7 trillion (U.S.) was stashed away in offshore accounts in 2015, equal to more than 10 per cent of all household wealth in the world. Some of that money was parked offshore by wealthy Canadians.
According to the Canada Revenue Agency, some $3 billion (Canadian) of annual tax revenue is lost from the untaxed investment income that is generated from the $240.5 billion that wealthy Canadians have squirrelled away in offshore tax shelters.
By Jeff Rubin
August 22, 2020
https://www.thestar.com/opinion/contributors/2020/08/22/why-do-canadas-wealthiest-families-get- huge-tax-breaks.html


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## sags (May 15, 2010)

For sure.......collecting taxes that "should" be paid is a big problem and should be addressed.

The opposition are demanding a budget, but that is a useless exercise in relation to balancing the budget. 

All budget announcements do is announce new spending.

They include some "far off" estimates to balance the budget at some "distant" future date, but it never happens. It is all make believe.

A deep study by a panel of experts from all sectors is needed. Each group should be tasked with a specific goal of either lowering costs or raising revenue.


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## MrMatt (Dec 21, 2011)

sags said:


> For sure.......collecting taxes that "should" be paid is a big problem and should be addressed.
> 
> The opposition are demanding a budget, but that is a useless exercise in relation to balancing the budget.
> 
> ...


Actually the budget is how we lay out the financial plan.
I guess Trudeau has moved on from "Budgets balance themselves" to "We'll do what we want, and let our kids fix the mess".

That attitude is how Boomer became an insult.


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## calm (May 26, 2020)

One of the problems is that for every dollar that Trudeau borrows, the Parasites, the Economic Terrorists, want 25 percent of every dollar as a management fee.

The Government Parasites don't want Trudeau to exclude the private sector when spending borrowed money. The less money that the Parasite gets, the louder the propaganda about "Deficits".

There is kind of a dance going on.
The WE scandal was about paying a private consortium a 25 percent cut of a trillion dollars of government spending.

I think that Trudeau might begin setting up a new process of administering social spending and programs and the Parasites are complaining again.
Trudeau may spend the money by cheque and not not involve the private sector. (Direct deposits of cash into bank accounts.)

Generally speaking, the NDP have always wanted to give social programs and money directly and not through a corporation demanding a 25 percent fee. And that is why the NDP lost every election.

The Parasites don't mind spending money, they just want to be part of the gravy train, Anything less than 25 percent share is just terrible financial policy.
----

I have always wondered what cut the Parasites get just by "Creating" the documents, the paper trail? What is the name of that outfit? Who is managing that office and transaction. Is it a monopoly?

The major shareholder of Canadian banks is BlackRock, Inc.. (They purchased Barclays Global Investors Holdings in 2009.)








BlackRock - Wikipedia







en.wikipedia.org












Barclays - Wikipedia







en.wikipedia.org





In the U.S. these three rating agencies create and manage the US. Treasury Bond issues.








Credit rating agency - Wikipedia







en.wikipedia.org





They all want a 25 percent cut of every dollar spent or it is "Socialism" ....... and the Grand Kids will pay.

When the super rich want money they just to and take it.

When the Poor People want money they gotta go to Congress and "Fight" for it. (And subject to change without notice.)

12 Economic Terrorists decided to "Ransom" the purchase (bail-out) the Stock Market.

I did not see any "Fight" for the Trillions given to a "Private" Banking Consortium like Black Rock and Rothschild.
12 people at the Federal Reserve had the power to decide that all by their lonesome. These 12 people are very "Organized", sort of like the "Chief Chamber Of Commerce" and the NRA. They don't argue and they don't beg. The only person on their knees begging for redress that I saw was Colin Kaepernick.

The Parasites got the money on demand at the Federal Reserve.

Poor Folks gotta beg and negotiate with a Congress of bribery.


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