Insolvency is just around the corner:
“Banks are rational and pragmatic commercial actors and take a long-term strategic view,” he said. “Who wants to sell a distressed airline or hotel in this environment?”
Still, as the winter and holiday season approaches, travel and related businesses from airlines to hotels to car rental agencies — and now restaurants — will be on the watchlists of insolvency and restructuring experts.
These sectors “will remain under stress as customers elect to remain close to home,” said Rogers.
**
Justin Trudeau said he told provincial premiers that “federal resources are not infinite” in their call on Thursday evening – perhaps the first time he has suggested there are limits to what Ottawa is prepared to spend.
“We might have to choose between regions – we want to avoid having to make those tough choices,” he said.
(Sidebar: like Quebec, for example, Mr. "Money Comes From My Dad's Lawyer".)
The prime minister’s comments came the same day that a Statistics Canada survey of business conditions indicated that nearly one third of all businesses did not know how long they could continue to operate at current levels.
And yet he handed government money out like candy:
Federal spending on financial supports during the height of the global pandemic in Canada greatly outpaced that of other developed countries, enough to actually raise household incomes at a time when the economy was in free fall.
A new report by the Organization for Economic Co-Operation and Development (OECD) shows that household incomes in Canada increased by 11 per cent in the second quarter of 2020, while incomes in other developed nations including the U.K., France and Germany decreased. The boost came despite a more than 10 per cent contraction in the Canadian economy over the same period, shortly after strict lockdowns were introduced across the country.
Just as with the deficit, she would not know the answer to that question, either:
Freeland claims we don't need to worry about debt because of low interest rates.
— pierrepoilievre (@PierrePoilievre) November 14, 2020
Does she know what a 1% hike would cost? pic.twitter.com/S0i83XAvRO
Also:
This wins the stupidest-idea-of-the-week award.
— pierrepoilievre (@PierrePoilievre) November 14, 2020
The government forces people to stay home and then taxes them for complying? https://t.co/ISZ7Elld1m
Let's throw away what little money we have left on bottomless projects because why not?:
Cabinet just prior to the pandemic polled Canadians’ views on a “climate budget”, according to records. The concept fared badly in focus groups. A planned March 30 budget was cancelled and never rescheduled: “Many more felt it was a bad idea.”
**
Fewer than half of Northern families can afford a federally-recommended nutritious diet despite $103 million a year in grocers’ subsidies, say auditors. Investigators said the costly fly-in Nutrition North Program had little impact: “The subsidy focuses on the price of food and not the economic realities.”
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