Calgary Mayor Naheed Nenshi 10 years of reckless spending: Canadian Taxpayers Federation calls on Calgary city council to cut spending by $460M – October 22, 2020,
Does something feel wrong with the Canadian economy yet? Does something feel wrong with the world economy yet? If you answered no, chances are you’re a believer that economies fix themselves. Leftists to date still have no idea where the populist movement is coming, America voted in Donald Trump for God sakes, I’m a Conservative and although I admire Donald Trump, in my opinion, the only reason he’s in the white house is that conservative people like myself have a hard to time expressing our views in sound bites.
I write blog posts most of the time as if I was writing to school children because I’m well aware that my audience, probably hasn’t given Canada’s fiscal situation as much thought as I have. I live in eastern Canada, but because of the current structure of Canada’s democracy, on the Federal Level via equalization payments, Eastern Canada can basically economically enslave Western Canada.
With that said, the day of reckoning is inevitable, God or karma inevitably shows up when you least expect it to and the problem with reckless spending is that when the time comes to tightening your belt, the financially obese, eventually learn how good they had it at the expense of others.
I personally believe Canada is heading down a road of forced austerity measures, when I look at the U.S election, Canada is screwed either way, both Trump and Biden will be bad for Canada, they both spend recklessly, the difference being that Trump has a business approach and Biden has Socialist approach.
Now during the last U.S financial crisis, Canadian taxpayers and our government weren’t in as much debt as we’re in now, debt servicing wasn’t a problem for Canada in 2007-2008, well in case Canadians have ignored the obvious, Coronavirus was actually a housing and credit market crash, the markets in Canada CRASHED, we’re currently living in an illusion, mortgage deferrals, CERB, prior to the ACCEPTANCE of a fiat monetary standard this entire house of cards would have crashed, now if we’re, to be honest, and say that the current Fiat monetary system is merely mirroring the prior Gold Standard system, we’re already in a great depression.
What got the world out of the Great Depression? If you answered war, you’d be partially right, but what really got us out of the Great Depression was global austerity measures, the cutting of unnecessary spending, increased savings, less debt, and yes even higher taxes, taxes in which most people didn’t pay because you only pay taxes if you don’t understand the tax laws.
People forget the world prior to the digital world, revolved around humans moving cash around without the government being there. It’s a known fact that small businesses did everything in their power not to pay taxes and during these periods that’s when society as a whole was flourishing.
Government people don’t spend money wisely, current Calgary Mayor Naheed Nenshi spent 10 years spending money recklessly. Now, when government people spend money recklessly, they want to say that the small business people are the tax cheats, I think people remember Bill Morneau calling small business people tax cheats, but the world was richer prior to the invention of public sector unions.
I personally think that Franklin D. Roosevelt(FDR) was the worst President in U.S history and even he disagreed with the idea of public-sector unions, which artificially raises the cost of public sector labor. Well in Canada public-sector unions with inflated paychecks have been normalized and accepted and in my opinion, once Canadians realize how bad things are economically in this country, Canada’s entire public sector is going to be put on trial.
I’ve been paying close attention to the Province of Alberta, and they appear to be ahead of the curve, Albertans know something is wrong, we here in Ontario, collectively I don’t think we get it, I don’t think eastern Canada gets it, but once Canadian dollar debasement has arrived and printing money comes with a penalty that’s felt immediately, spendthrift Canadians are in for the ride of their lives.
Canadian Taxpayers Federation calls on Calgary city council to cut spending by $460M | globalnews.ca
Interesting times ahead!