All Things Trudeau, Chapter 2

[nucksRnum1]

Sabrina Maddeaux with another brilliant article. Liberal shills to apologize on Justin's behalf and somehow blame Harper and the author of the article for this CPP debacle coming in in 4...3...2...1...

Sabrina Maddeaux: Thanks to Trudeau Liberals, working Canadians will pay too much into CPP

The cost of… well, basically, everything seems to be soaring, and now many Canadians can subtract one more price increase from their bank balances. The Canada Revenue Agency (CRA) announced, last month, new maximum pensionable earnings for 2022. While small increases are typically expected, next year’s cap will jump a rather shocking 5.3 per cent to $64,900 from $61,600 in 2021. This is the fastest rate of increase in 30 years.

https://www.msn.com/en-ca/money/topstor ... d=msedgntp

You would think pampered boomers would be thankful that the PM makes sure that CPP doesn't go into bankruptcy......

[The Green Barbarian]

You would think pampered boomers would be thankful that the PM makes sure that CPP doesn't go into bankruptcy......

How is this massive raise in rates ensuring anything other than continued mismanagement by the Liberal party? Why not focus on trying to control inflation (caused by the Liberals and their never-ending printing press) rather than jacking up rates through the roof? Talk about lazy. And so so very stupid. For shame Justin!

[hobbyguy]

You would think pampered boomers would be thankful that the PM makes sure that CPP doesn't go into bankruptcy......

How is this massive raise in rates ensuring anything other than continued mismanagement by the Liberal party? Why not focus on trying to control inflation (caused by the Liberals and their never-ending printing press) rather than jacking up rates through the roof? Talk about lazy. And so so very stupid. For shame Justin!

Can't you figure out the math in my previous post? The improvement to CPP will cost most people nothing if they can do the simplest math, and in fact will be big boon in giving them guaranteed and indexed to the CPI income when they retire.

But then the Trudeau basher's favorite party, the party of stoopid, came out against the improved CPP, so it is just reflexive nonsense.

It isn't massive, and anyone contributing to RRSPs etc. will provide a quick and easy adjustment that takes nothing out of their pockets, and gives them a better rate of return guaranteed. Not many guaranteed investments out there, and certainly not many that are indexed to the CPI 20, 30 years down the road.

But that's the reality, and once again the critics of of Trudeau are demonstrating a lack of comprehension.

[The Green Barbarian]

John Ivison: 'We are bleeding capital' and that spells big trouble, report warns

The typical bank economist is so boring that a near-death experience would see someone else’s life flash before their eyes.

They are, by nature, irresolute – “on the one hand….but on the other.”

That is why a special report that emerged from National Bank Financial this week was so startling – a compelling, unequivocal look at Canada’s investment climate by chief economist, Stéfane Marion.

His conclusion: “We are bleeding capital.”

Statistics Canada released its latest figures for the country’s capital stock in 2020 two weeks ago, which suggested investment increased by 1.3 percent last year, down from 1.8 percent in 2019.

But those numbers include government investment in things like infrastructure. Marion stripped out public sector spending to look purely at private sector investment. He found for the first time on record, there was an absolute contraction in our capital stock, as new investment did not cover depreciation – a calamity for a small trading economy like Canada.

While he concedes that COVID played his part, Marion points out that the five-year moving average has seen private investment slowing year-on-year since 2015, when it grew at four percent.

https://www.msn.com/en-ca/news/canada/j ... d=msedgntp

So yesterday we had the news that the Liberals are totally destroying and mismanaging the CPP and now we have this. Canada is just so pooched, thanks to the unqualified children in the Liberal government. They are just so awful.

[hobbyguy]

John Ivison: 'We are bleeding capital' and that spells big trouble, report warns

The typical bank economist is so boring that a near-death experience would see someone else’s life flash before their eyes.

They are, by nature, irresolute – “on the one hand….but on the other.”

That is why a special report that emerged from National Bank Financial this week was so startling – a compelling, unequivocal look at Canada’s investment climate by chief economist, Stéfane Marion.

His conclusion: “We are bleeding capital.”

Statistics Canada released its latest figures for the country’s capital stock in 2020 two weeks ago, which suggested investment increased by 1.3 percent last year, down from 1.8 percent in 2019.

But those numbers include government investment in things like infrastructure. Marion stripped out public sector spending to look purely at private sector investment. He found for the first time on record, there was an absolute contraction in our capital stock, as new investment did not cover depreciation – a calamity for a small trading economy like Canada.

While he concedes that COVID played his part, Marion points out that the five-year moving average has seen private investment slowing year-on-year since 2015, when it grew at four percent.

https://www.msn.com/en-ca/news/canada/j ... d=msedgntp

So yesterday we had the news that the Liberals are totally destroying and mismanaging the CPP and now we have this. Canada is just so pooched, thanks to the unqualified children in the Liberal government. They are just so awful.

No, your Skippy inspired attack line on CPP is just dumb nonsense and only works with math challenged CPCers.

As for the drop in capital investments by companies, that is neither uniquely Canadian nor attributable to government policy except that necessary pandemic restrictions have caused companies to cancel/eliminate capital investments due to pandemic effects . That drop in capital investment during a pandemic is a big duh! That the right wing CPCers are unable to understand that, puts them in Gomer territory.

https://www.journalofaccountancy.com/is ... demic.html

The coronavirus pandemic has disrupted companies' capital project plans, not only this year but most likely for the foreseeable future. This is likely to have consequences beyond the pandemic, because the way companies allocate capital and make investment decisions affects long-term shareholder value creation.

One CFO role in leading organizational sustainability is capital planning. Successfully fulfilling this key role requires risk management and performing analytical processes that predict capital decision implications.

The practical business approach builds advance capabilities to respond to negative-surprise events and protect business operations. In a crisis, preserving cash and cash flow, as well as sustaining or obtaining capital, becomes the highest priority.

Major capital investments such as acquisitions and stock buybacks generally cease soon after a crisis begins.[/b"

Once again the Trudeau bashers are guilty of "shoot, aim, ready".

Meanwhile policies that the Trudeau Liberals are pursuing are attracting capital aimed at the low carbon economic transition, and specifically in regard to their push for hydrogen development: https://www.theglobeandmail.com/politic ... -projects/

"An Australian mining giant has signed agreements with three Canadian Indigenous nations to determine the viability of building green hydrogen projects as the company attempts to reinvent itself as a supplier of clean renewable energy.

Fortescue Future Industries (FFI) sees Canada as potentially one of the largest sources of renewable energy in the world and is hoping to develop multiple large-scale green energy projects here.

“We have scouted over 60 countries in the last 18 months, looking for where there are strong renewable resources and governments that are supportive of the green hydrogen industry,” FFI chief executive officer Julie Shuttleworth said in an interview. “We think Canada is very attractive. It is resource-rich and there is a strong government support for decarbonizing.”

SNIP

“These are multibillion-dollar projects so we would aim to have some of the first projects producing green hydrogen by 2025,” she said. “We are trying to create green hydrogen projects for domestic consumption in Canada and then for export.”

So yup, companies are starting to see Canada as a prime place to invest for the economy of the future.

Capital will indeed start to flow again as the pandemic wanes (still a ways to go there yet) and is good to see that Trudeau Liberal policies are creating an environment that is attracting the right kind of investments for the future.

[hobbyguy]

https://www.cbc.ca/news/business/job-ga ... -1.6272113

"Canada added 154,000 jobs last month, pushing jobless rate down to pandemic low of 6%

Canada's economy now has almost 200,000 more jobs than it did before the pandemic"

SNIP

"There was good news on the wage front, too, as the data agency calculates that wages during November 2021 were 7.7 per cent higher than they were the same month two years ago, before the pandemic. That's an extra $2.18 an hour, on average, since the same period two years ago.

Workers on the whole are moving up the wage scale. The number of people making less than $12 an hour has fallen dramatically over the past two years, from more than a quarter of a million people before to just 165,000 people today. There are also fewer people making between $12 and $20 an hour, as that number has fallen from 5.1 million workers to just 4.4 million now.

Those salary bands are shrinking because people are moving up the pay scale. Those making between $20 and $30 an hour have grown from 4.9 million before to 5.2 million now, and the ranks of those in the highest band have swollen to more than 6.8 million people. That's more than a million more than there were before."

We aren't out of the pandemic yet, and already unemployment is down to the lowest level achieved during the bleak CPC years. The real economy, the one that you and I, everyday Canadians live in, seems to be doing quite well.

There are hotspots of trouble, like housing prices, but overall the "everyday Canadian" economy is looking pretty decent. Especially heartening is people moving into the middle class with higher wages.

Some credit can go to the Trudeau Liberals, but mostly it is a credit to Canadians and their resiliency in the face of the pandemic.

[Gone_Fishin]

5% inflation eroding workers' wages and seniors' savings, but hey, don't worry, be happy.

The economic disaster under Trudeau is as plain as white on Rice.

[Catri]

5% inflation eroding workers' wages and seniors' savings, but hey, don't worry, be happy.

The economic disaster under Trudeau is as plain as white on Rice.

You're using the "white on rice" idiom incorrectly.

[d0nb]

Same here. Although when I've criticized him, I've been accused of hating him.

Trudeau isn’t evil, he’s just dumb. In order to hate him, one would have to assume that he knows what a terrible excuse for a leader he is and could easily do better, but chooses not to. Driven as they are by emotion rather than reason, your dispassionate criticism of JT is simply beyond the understanding of many on the left.

[d0nb]

Sabrina Maddeaux with another brilliant article. Liberal shills to apologize on Justin's behalf and somehow blame Harper and the author of the article for this CPP debacle coming in in 4...3...2...1...



https://www.msn.com/en-ca/money/topstor ... d=msedgntp

Don't worry, the money is going to Tiny Tim.

Well, maybe that should cause extreme worry.

No doubt, being saddled with higher CPC contributions galls folks like Sabrina who already resent government payouts to the old people she regards as being rich and over privileged.

Unfortunately, the hikes will put additional stress on businesses and employees as they try to cope with nasty inflation in food, energy, housing and other expenses. Such fun.

[hobbyguy]

5% inflation eroding workers' wages and seniors' savings, but hey, don't worry, be happy.

The economic disaster under Trudeau is as plain as white on Rice.

Ya right, the silly partisan nonsense, Here's the inflation forecast: https://data.oecd.org/price/inflation-f ... ator-chart

Yup, the pandemic recovery bottlenecks are pushing up inflation - a worldwide phenomenon - but it will abate and return to normal next year.

Plus if you pay attention, workers are making big gains in wages and economic mobility. Seniors will be getting CPI adjusts to CPP and OAS in January.

What is really eroding seniors savings is the low interest rates. Those are going up next year, but that's properly a BOC decision - not one for politicians. Negative real interest rates have been happening for a long time, and that's a problem.

But meanwhile the price of my home has jumped like crazy, and on paper my net worth is much higher than it was. Win some, lose some. Tough on seniors who are renting though. So Trudeau and crew paying more attention to housing will help a tad - but something needs to be done for low income seniors who are renting.

[Gone_Fishin]

5% inflation eroding workers' wages and seniors' savings, but hey, don't worry, be happy.

The economic disaster under Trudeau is as plain as white on Rice.

You're using the "white on rice" idiom incorrectly.

Nope. But you don't get it. Some on here sure do.

[Gone_Fishin]

Working Canadians are paying too much for everything under the Trudeau Liberals. But his wealthy white elitist friends are sure rolling in the dough.

And lower income Canadians are going to get hit the hardest. Trudeau hates low income people.

Thanks to Trudeau Liberals, working Canadians will pay too much into CPP


Justin and Sophie flaunt their wealth in front of destitute Canadians. "Let them eat cake!" screamed Sophie.

The cost of… well, basically, everything seems to be soaring, and now many Canadians can subtract one more price increase from their bank balances. The Canada Revenue Agency (CRA) announced, last month, new maximum pensionable earnings for 2022. While small increases are typically expected, next year’s cap will jump a rather shocking 5.3 per cent to $64,900 from $61,600 in 2021. This is the fastest rate of increase in 30 years.

A quick refresher: pensionable earnings are the portion of your salary used to calculate your and your employer’s contributions to the Canadian Pension Plan (CPP). Maximum pensionable earnings are the maximum salary amount on which you need to contribute to the CPP. A higher maximum means a larger portion of your salary becomes eligible for payroll contributions. Combined with higher contribution rates (5.7 per cent up from 5.4 per cent in 2021), many Canadians will see a significant cost increase.

This comes at a time when consumers are already suffering from the impacts of above-target inflation, spiraling housing costs, and sticker shock brought on by supply chain issues. Compounded by pandemic job losses and salary gaps, many find they can no longer afford their pre-COVID quality of life. In recent memory, it’s never been harder for Canadians to make ends meet.

In fact, the unexpected maximum earnings increase comes on the back of those who lost jobs and income. The CRA calculates the amount based on the nation’s growth in average weekly wages and salaries, which surged during the pandemic. However, this isn’t because individual wages suddenly skyrocketed. Rather, the average increased because so many low-wage workers lost their jobs while small entrepreneurs watched their businesses crumble.

The increase is neither a fair nor sustainable reflection of greater economic stability and prosperity, but one based on flawed calculations. An already struggling workforce will be subjected to increased costs many can’t afford, and self-employed individuals and entrepreneurs will take the biggest hit of all. While regular employees and employers share the burden of CPP contributions, self-employed Canadians must pay both the employer and employee part. This means they must deduct double the amount from their earnings.

snip

As Canadians struggle to pay for everything from groceries to housing, forcing more money out of their paychecks and into government hands is the last thing we need.

https://nationalpost.com/opinion/sabrin ... h-into-cpp

[The Green Barbarian]

No, your Skippy inspired attack line on CPP is just dumb nonsense and only works with math challenged CPCers.

I don't know who "Skippy" is, but I assume this is yet another childish nickname conjured up by the PMO for Erin O'Toole and then sent out to the minions to parrot. What foolishness. You are right though, the way the Liberals are mismanaged the CPP program, it really is "dumb nonsense". The Liberals don't know what they are doing, and that's why CPP rates are going through the roof. Unqualified idiot children are running our government.

As for the drop in capital investments by companies, that is neither uniquely Canadian nor attributable to government policy except that necessary pandemic restrictions have caused companies to cancel/eliminate capital investments due to pandemic effects .

Once again - apologist nonsense. "Skippy" Trudeau (see I can make up nicknames for leaders of political parties too!) is an unqualified child, who leads a government full of unqualified children. And Canada is suffering mightily for this. The Liberal party is just plain awful.

[Gone_Fishin]

Justin is asking if there are any waves he can surf on that water.


https://twitter.com/Lefty_Mind/status/1 ... 1415122949