All things Trudeau

Re: All things Trudeau

Postby The Green Barbarian » Jan 7th, 2019, 2:33 pm

Omnitheo wrote:I wonder if people would rather have a booming economy, the fastest growing in the G7, and lowest debt/GDP ratio. Lowest unemployment in ~50 years.


Thank you Stephen Harper.
How do you destroy a political party? Elect a part-time drama teacher as your leader because of his last name.

2019 - The year we get rid of the Liberals and their drunken farm wife spending.

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Re: All things Trudeau

Postby burnedatstake » Jan 7th, 2019, 3:04 pm

The Green Barbarian wrote:Thank you Stephen Harper.



um for what?
the capitalist idea of liberty is that one persons right to profit can be greater than another persons right to live.
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Re: All things Trudeau

Postby Pete Podoski » Jan 7th, 2019, 3:16 pm

Oh boy. Now Trudeau is spending our C.P.P. contributions on T.V. ads to tell us how great they are doing.

No wonder our contributions went up dramatically this year.


Why is Canada Pension Plan blowing money on feel-good ads?

Published:
January 7, 2019

The Canada Pension Plan Investment Board is running expensive feel-good TV ads, including during NFL playoff games, to tell Canadians they’re on the job investing pension contributions and that the plan will be there for workers when they retire.

The question is, why? Why is a government monopoly agency spending CPP contributions to promote themselves when they have no competition and when workers and employers have no choice but to pay into the plan?

To make matters worse, when asked how much the ads were costing CPP contributors, a CPPIB spokesman said Canadians will have to wait for the board’s annual report issued in May to find out.

This is what passes for openness and accountability in government these days.


{Snip}

Regardless, Canadians are forced to pay into a national pension scheme whether they want to or not and whether it makes financial sense for them or not. They have no say in it. And they have no say in how their money is spent.

Meanwhile, CPP rates are going up beginning this year because government has decreed that the CPP should make up a larger portion of Canadians’ investment income, whether we asked for it or not.

It’s bad enough Canadians are forced to pay into this scheme. It’s even worse that the organization entrusted with our money is blowing some of it on TV ads.

The CPPIB says the ads, which are scheduled to run from Dec. 26 to Feb. 18, are targeted at Canadians who don’t have faith in the pension plan and need to be educated on how solvent the CPP actually is.

“Mistrust in the plan’s solvency remains stubbornly high, with a majority of Canadians mistakenly believing it is financially unsound,” CPPIB director of public affairs and communication Darryl Konynenbelt said in an email. “This is worrisome and troubling.”

As a result, the CPPIB has a responsibility to inform Canadians that pension benefits will be there for them when they retire, he said.

“Our business rationale for this financial literacy initiative is to reduce the number of Canadians who believe the CPP Fund will not be there for them,” he wrote. ”We at CPPIB also take public accountability seriously in that, even as we don’t sell anything, we owe Canadians information about how their money is managed.”

However, the ads don’t provide viewers with any details about the plan’s solvency. It shows images of happy working people and states broadly that the CPP will be there for Canadians when they retire, a claim governments have been making for years. There’s no new information presented and no financial data demonstrating how or why the plan will be solvent for future generations. It’s designed to try to make people feel good. It’s propaganda. And CPP contributors are paying for it.

How much, we don’t know because the CPPIB refuses to release any details about the cost of the ads.

“Per our regular transparency practices, the costs get disclosed in our annual report due May 15, 2019,” wrote Konynenbelt.

If that’s an example of CPPBI transparency, I’d hate to see its secretive side. What good reason could there be for refusing to make those costs public now? The ads are already running.

When governments or their surrogates don’t want to reveal what is clearly releasable financial information, there’s usually a reason for it. They don’t want us to know what they’re doing with our money. Or at the very least, they don’t want us to know how much of our money they’re spending on something.

Blowing CPP money on feel-good ads is clearly a gross waste of contributors’ money. The fact they won’t tell us how much they’re spending just adds insult to injury.


https://winnipegsun.com/opinion/columni ... l-good-ads

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Re: All things Trudeau

Postby Catsumi » Jan 7th, 2019, 3:33 pm

^^^^


Sigh. Not ONE single day goes by without some hairbrained scheme, plot, nefarious doings, new ways to waste taxpayers money or downright silly fluff out of Otta-what.

How I long for election day.

Get rid of these clowns once and for all.
Make the Cdn wet dream come true. Vote MAD MAX

Like a plague, JT must go!

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Re: All things Trudeau

Postby Pete Podoski » Jan 7th, 2019, 3:50 pm

Catsumi wrote: hairbrained scheme


Well, should we be surprised?

Image

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Re: All things Trudeau

Postby The Green Barbarian » Jan 7th, 2019, 3:58 pm

burnedatstake wrote:

um for what?


a booming economy, the fastest growing in the G7, and lowest debt/GDP ratio. Lowest unemployment in ~50 years.
How do you destroy a political party? Elect a part-time drama teacher as your leader because of his last name.

2019 - The year we get rid of the Liberals and their drunken farm wife spending.

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Re: All things Trudeau

Postby hobbyguy » Jan 7th, 2019, 5:57 pm

CPP is sound, and the CONservatives, because they have nothing else, play the cheap suit politics of fear and division around CPP? Why? Because they refused to improve and someone else, JT and the Liberals did so.

The CONservative partisans, will you accept your CPP payments when eligible? Of course you will. The honest position is that CPP is a valuable, stable, and guaranteed way for the little guy to invest for retirement. The little guy has can invest as they see fit, although some won't, even though it is in their interest, in no guarantee investments. The TFSA limits are being raised to help them out in that regard.

It is very hard to argue against the CPP and its improvement, and so we see disinformation coming from the far right and the CONservatives who were happy to have younger folks face a bleak retirement. It makes some sense for the CPP itself to counter this absolute garbage that is being peddled by the far right.

The only reason CONservatives are upset by this, is taht it counters their garbage snollygoster talking points memo. JT and the Liberals made a good call in moderately improving CPP, increasing the TFSA allowance some. That gives folks a decent base, and more options.
Anyone but Scheer - career pols are know nothings.

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Re: All things Trudeau

Postby burnedatstake » Jan 7th, 2019, 6:19 pm

The Green Barbarian wrote:a booming economy, the fastest growing in the G7, and lowest debt/GDP ratio. Lowest unemployment in ~50 years.


um yes. this is under trudeau. not harper. i remember recession and austerity under harper. closed down government services for veterans. you need to up your game - now its just fantasies.
the capitalist idea of liberty is that one persons right to profit can be greater than another persons right to live.

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Re: All things Trudeau

Postby Catsumi » Jan 7th, 2019, 9:02 pm

More on the ill conceived carbon tax.

https://business.financialpost.com/opin ... e-lets-see

Seems Hair-n-Sox, He of the Slipping Brow, thinks we will just roll over and accept it. Yeah, we are all so excited that gov't has found a way to tax the air we breathe.
Make the Cdn wet dream come true. Vote MAD MAX

Like a plague, JT must go!

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Re: All things Trudeau

Postby Omnitheo » Jan 7th, 2019, 9:23 pm

If you’re dumping extra *bleep* into the air I breath, then yes you should be incentivized not to.
"The Charter of Rights and Freedoms protects all Canadians, every one of us, even when it is uncomfortable."
- Justin Trudeau

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Re: All things Trudeau

Postby The Green Barbarian » Jan 7th, 2019, 10:11 pm

Omnitheo wrote:If you’re dumping extra *bleep* into the air I breath, then yes you should be incentivized not to.


And there's the rub. C02 is not "*bleep*", it is a harmless gas required by all plant life to live. The fact that the brainless alarmists have somehow convinced themselves that C02 is "pollution" or worse, "*bleep*" is just more evidence of the self-delusion required to keep this fraud ongoing.
How do you destroy a political party? Elect a part-time drama teacher as your leader because of his last name.

2019 - The year we get rid of the Liberals and their drunken farm wife spending.

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Re: All things Trudeau

Postby Catsumi » Jan 7th, 2019, 11:03 pm

My Avatar just blew some "air" at your Trudeau Avatar.

Enjoy.

Tax free.

:biggrin:
Last edited by Catsumi on Jan 8th, 2019, 10:04 am, edited 1 time in total.
Make the Cdn wet dream come true. Vote MAD MAX

Like a plague, JT must go!

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Re: All things Trudeau

Postby floppi » Jan 7th, 2019, 11:18 pm

Omnitheo wrote:If you’re dumping extra *bleep* into the air I breath, then yes you should be incentivized not to.


That's the way I see it...an user pay pollution tax :biggrin:
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Re: All things Trudeau

Postby Gone_Fishin » Jan 8th, 2019, 5:33 am

As usual, Andrew Coyne calls it like it is: blatant, arrogant misuse of funds to promote the Trudeau brand pre-election. Morneau has also been trying to interfere in the CPPIB's activities and stack it with Liberal friends. These corrupt *bleep* need to be ousted ASAP. They are bloody thiefs.


Andrew Coyne: CPP ads on NFL playoffs: your pension dollars at work for the Liberals

One cannot help noting whose interests such advertising would serve: the federal government, the driving force behind CPP 'enhancement' and increasingly applying its own brand of active management at the CPPIB


Canadian viewers of this year’s NFL’s wild card weekend were startled to see a certain commercial in heavy rotation. No, not the Budweiser Clydesdales, or the burger and soft drink ads that are the pricey broadcasts’ usual fare. Rather, this important message was brought to you by the Canada Pension Plan Investment Board.

“You don’t think about CPP Investment Board,” the announcer chirped, while the usual assortment of smiling Canadians went blissfully about their assorted business, “but we think about you every day.” Indeed, “while you may not think about it, you started saving for retirement with your first paycheque.” Cue the music (Great Big Sea’s “Ordinary Day”) and the slogan: “Investing today for your tomorrow.”

I don’t doubt the board can afford the cost of these spots. With $356 billion in assets under management, and billions more in contributions flooding in every year from Canadian workers and their employers, the CPP is hardly short of dough. Still, it’s not clear exactly why these ads are needed, or what they are trying to achieve.

True, the timing of the ad is suggestive, appearing as it is in the very week when workers are likely to notice the CPP taking a bigger bite out of their paycheques than ever before. Employer and employee contributions are rising from 4.95 per cent of pensionable earnings to 5.1 per cent, the first of several annual increases between now and 2023.

But the CPP isn’t a mutual fund: it doesn’t have to persuade Canadians to park their money with it. They have to, by law. No matter how irritated they may be at seeing more and more of their wages going to the CPP, there is no way they can withdraw from the plan, and no prospect of the increases being reversed. So why is the CPPIB paying — or rather, why are we paying — for expensive ads designed to make us feel good about all this “saving” and “investment”?


There’s no mystery where the money has gone: the CPPIB has plunged heavily into risky, illiquid investments such as private equity and public infrastructure

snip

Successive annual reports tell the tale. In 2000, when the CPPIB was founded (previously the CPP was confined to investing any spare change in provincial bonds) it had a staff of five. The CEO was paid $310,000. Total costs were $3.7 million. By 2006, it had about 150 employees, the CEO was making over a million, and costs were $118 million: considerably more, but not wildly out of line, for a fund that by then had nearly $100 billion under management.

And today? The board has over 1,500 employees. The average compensation among its top five executives is $4.5 million. And total costs have grown to $3.2 billion, or nearly one per cent of assets under management. By contrast, passively managed funds such as those offered by Vanguard or Schwab typically charge less than one tenth of one per cent of assets.

There’s no mystery where the money has gone: the CPPIB has plunged heavily into risky, illiquid investments such as private equity and public infrastructure, the kind that requires hiring expensive talent to assess. Whether all this extra expense will prove worthwhile is another matter. The CPPIB has beaten its own preferred benchmark, a “reference portfolio” made up of publicly traded stocks and bonds, in just seven of 12 years.

So, yes, it’s perfectly possible that amid the general carnival of extravagance at the CPPIB — my favourite example is the length of the annual reports themselves, which have ballooned from under 12,000 words to nearly 85,000 — a few hundred thousand dollars for useless TV ads would not have been missed. Still, one cannot help noting whose interests such advertising would serve: the federal government, the driving force behind CPP “enhancement” and increasingly applying its own brand of active management at the CPPIB — ostensibly an independent body at arm’s-length from its federal and provincial masters.

CPP insiders whisper about the finance minister demanding meetings with the CPPIB’s board of directors, even attempting to dictate its composition. Indeed, the minister has been quite public in hinting the CPPIB might relieve the government of some of its investment in the Trans Mountain pipeline. The example of the new Canada Infrastructure Bank, another supposedly arm’s-length public investment body that shows increasing signs of politicization — its first investment was in a Montreal light-rail project that just happened to be a political priority for the Trudeau government — is not a happy one.

But whether the cause is internal bloat or external pressure, it is difficult to see why the CPPIB should be spending the money Canadians are forced to contribute to it on propaganda whose sole apparent purpose is to soften them up for more forcible contributing. Section 6 (2) of the Canada Pension Plan Investment Board Act stipulates that “the board and its subsidiaries shall not, directly or indirectly, carry on any business or activity or exercise any power that is inconsistent with the Board’s objects.”

Those objects are “to invest its assets with a view to achieving a maximum rate of return, without undue risk of loss” in order to “assist the Canada Pension Plan in meeting its obligations to contributors and beneficiaries.” It’s not clear those objectives are best served by the CPPIB’s current maximum-cost investment strategy, but it’s even less clear how a feel-good advertising campaign contributes to anything but Liberal election prospects.

https://nationalpost.com/opinion/andrew ... e-liberals
Ecclesiastes 10:2 "A wise man’s heart inclines him to the right, but a fool’s heart to the left."
Get a high school drama teacher to run a country, and what do you get? High school drama.

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Re: All things Trudeau

Postby Ka-El » Jan 8th, 2019, 7:15 am

The Green Barbarian wrote:
a booming economy, the fastest growing in the G7, and lowest debt/GDP ratio. Lowest unemployment in ~50 years.

Thank you Trudeau. Turned things around nicely :smt045
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