But Wait! There's More!

There often is:

Canada is heading into a period of higher debt that could exhaust the federal government’s taxation and borrowing capacity, reduce its credit rating, and trigger a financial crisis similar to the one seen in the 1990s, according to Simon Fraser University economics professor Herbert Grubel.

 “You can’t pile on debt forever. There must be a critical point at which people who are lending you money say, ‘we don’t trust that you can repay it,’ and you get into a crisis,” Grubel told The Epoch Times.

 Grubel recently warned in a recent Financial Post op-ed that Canada is heading into a “1990s-style fiscal reckoning” due to unsustainable debt levels. He forecasted in his Dec. 4 article that if the trend continues, the government’s taxation and borrowing capacity will become exhausted and revenues won’t cover the cost of running the government and paying interest on the debt, and could even lead to bankruptcy.

“As we approach this point, our credit rating will fall and the interest rate we pay will rise, worsening the problem. In the end, there will be no bids at our bond auctions. We will have no choice but to declare bankruptcy,” he wrote.

 Other economists share Grubel’s concerns that Canada’s rising debt levels could become unsustainable and would eventually lead to problems with its credit rating, interest rates, and inflation levels, though they have diverging views on the issue of bankruptcy.

 Carleton University business professor Ian Lee told The Epoch Times that while Canada cannot literally “declare bankruptcy” in a manner similar to businesses, the country could eventually see a fiscal crisis where the dollar devalues and the cost of imported goods rises.

 

Never forget who did this and who voted for this. 

 

 

Carney is expected in China next week for new marching orders:

Prime Minister Mark Carney will travel to China next week, marking the first visit to the country by a Canadian prime minister since 2017.

(Sidebar: since the other Chinese lackey.) 

The Prime Minister's Office (PMO) said the trip from Jan. 13 to 17 will see Carney meet with Chinese President Xi Jinping to discuss trade, energy, agriculture and international security.

In a statement, Carney said that the global disruption of trade has driven his government to transform Canada's economy from "one that has been reliant on a single trade partner, to one that is stronger and more resilient to global shocks," he said.

"We’re creating new partnerships in energy and trade, attracting massive new investment and securing more opportunities for Canadians."

Carney met Xi on the margins of the Asia-Pacific Economic Cooperation (APEC) summit in Gyeongju, South Korea, in October, where he accepted the leader's invitation for a visit.

After the trip to China, Carney will travel to Davos, Switzerland, where from Jan. 19 to 21 he will meet with business leaders at the World Economic Forum's annual meeting.

 

To discuss that little Trump problem, no doubt. 

 

 

So, you want the government - not the market - to control prices and then cover late payments with cash they get from taxpayers?

Is that right?:

 Parliament should federalize rent controls and cover late payments for tenants “at risk of immediate homelessness,” says the only MP in the federal New Democrat leadership race. Heather McPherson (Edmonton Strathcona) yesterday said regulation must not be left to landlords and local authorities: “Affordable housing is non-negotiable.”

 

The idea of a bottomless pit is firmly entrenched in their minds.