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Canada’s debt just keeps on growing….

April 27th, 2016 | by admin
Canada’s debt just keeps on growing….
Business and Finance
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Just in case your sick and tired of hearing about our great national Canadian debt bubble. Well, why not try it for one last time. But with a different twist?

Now according to the Frazer institute “Budget deficits and increasing debt are key fiscal issues as the federal and provincial governments prepare to release their budgets this year. Combined federal and provincial net debt has increased from $834 billion in 2007/08 to a projected $1.3 trillion in 2015/16. This combined debt equals 64.8% of the economy or $35,827 for every man, woman, and child living in Canada.

Debt accumulation has costs. One major consequence is that governments must make interest payments on their debt similar to households that pay interest on borrowing related to mortgages, vehicles, or credit card spending. Spending on interest payments consumes government revenues and leaves less money available for other important priorities such as spending on health care and education or tax relief.

Canadian governments (including local governments) collectively spent an estimated $60.8 billion on interest payments in 2014/15. That works out to 8.1% of their total revenue that year. To further put the amount spent on interest payments in perspective, it is more than what is spent on pension benefits through the Canada and Quebec Pension Plans ($50.9 billion), and approximately equal to Canada’s total public spending on primary and secondary education ($62.2 billion, as of 2012/13, the last year for which we have finalized data).
– See more at: https://www.fraserinstitute.org/studies/the-cost-of-government-debt-in-canada-2016#sthash.T0HR9oCY.dpuf”

Now that may not seem all that much since were used to seeing and hearing repeatedly these ludicrous numbers time and time again. But I remember when one million was such a big deal.( still is) Then they came out with a billion and now, what the heck, lets try a trillion.( Japan is now in the quazillions)

Of course the consequences of this are clear. When our government goes borrowing from the Bank of Canada. It uses it’s leverage on the backs of it’s citizens (taxes, layoffs and selling of crown jewels = slavery). Back in the day the BOC belonged to Canadians. But few people realize today the BOC is part of the Bank of International Settlement, a privately owned corporation which oversees all Western Central banks. So when the bank belonged to Canadians back as early as the 70’s. Well, we could simply erase our debt and then start again. (Not this time around bucko)

What really gets me chuckling though is how these big think tanks come out with their annual reports telling us how bad our debt is but will never tell Canadians the real truth; that the reason why governments keep on borrowing is because of the Ponzi scheme involved with the monetary system. Last I checked, if I lend 100 million dollars to 100 goverments at 1% interest. Well, that makes interest money created out of thin air into the economy that needs to be repaid with more borrowing. It’s a scheme perpetrated on the people that are not hip to it. So now try a trillion dollars!

It’s why we’re seeing more and more layoffs with more and more temporary workers. But soon enough it’s going to explode and then the full spectrum machinations will bring us into bondage.

Time to get hip to this immoral activity. Get out of the Matrix!

 

Richard Paul

https://www.fraserinstitute.org/sites/default/files/cost-of-government-debt-in-canada-2016.pdf

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