IMF Critisizes Canada For Being Cheap

[Economy 52,861]

Canada balanced the budget at the expense of taking it from the contingency fund which is usually around 4B. With the election upcoming this is a political budget not a true budget balance since I don't think that 1.4B surplus will go very far before it is spent.

How did the potential banking job turn out @Economy?

Hey! Well, the info the guy gave me was out of date. The manager of the branch said now hiring is done online so i have to search for openings there and apply online not give resumes to individual branches

 

I also havent had a car. I Live in Brampton (has highest insurance rates in Ontario) and theres no openings for tellers atm here. Im gonna wait a bit to see if one does open up if not, ill get a car and commute to anither city. I still have my current job so to not stress me out, id rather do this part-time id be trying out close to home if possible

 

PS: i doubt the $1.4 Billion will be spent. The budget is already made, they wont add additional spending or tax cuts especially since their election promiss was to balance the budget. If it fails it will be because of lower than anticipated revenue caused by an unexpected recession or drop in oil prices (again)

 

Also dont forget, Canadas finances most years comes better than expected because they add in a $3 Billion cushion to adjust for risk in the budget. This year tho they only added $1 Billion cause they are desperate to show a surplus...

 

im any case take away the $1 Billion cushion they put in place and the real estimate is $2.4 Billion surplus

 

this is nothing in comparison to the $10 Billion to $18 Billion surpluses we had in years like 2004, 2005 etc if you remember. But at least were out of the red again which is good!

[Economy 52,861]

Fvck the IMF and its neoliberalism practices that impoverish third world countries and basically hold a gun to their heads to allow foreign "investment" into their country so the crony capitalists can make more money at the expense of these countries' peoples and forcing them into cheap labor while stealing their resources for cheap a$$ products and first world consumers

Im just reporting, doesnt mean i agree

 

the IMF in my opinion has some pretty extreme and wrekless opinions economically and even worse, financially

 

they were agaisnt Austerity in Europe and said Europe should spend more to stimulate... Yet Europe had a sovereign debt crisis as in, Government debt was too high and an unstable Government debt market causes the entire credit market to go shaky (would take too long for me to explain why but its interconnected) and it caused the recession triggered by the US in 2008 (which had different root causes) to be much worse in Europe

 

you cant spend ur way out of a debt crisis if thats the problem to begin with. Its like telling an alcoholic whos in emotional pain with his problem to drink more alcohol to numb his pain... In the long run ur making it way worse... Yet thats what the IMF suggested  

[Miker 5,683]

Hey! Well, the info the guy gave me was out of date. The manager of the branch said now hiring is done online so i have to search for openings there and apply online not give resumes to individual branches

 

I also havent had a car. I Live in Brampton (has highest insurance rates in Ontario) and theres no openings for tellers atm here. Im gonna wait a bit to see if one does open up if not, ill get a car and commute to anither city. I still have my current job so to not stress me out, id rather do this part-time id be trying out close to home if possible

 

 

 

 

Give it a shot. You have such a keen interest with financial institutions that you would be an asset to them. If you get a job in one location they will often let you transfer to a branch more to your liking after you are established. Make sure your correspondence and resume are perfect with no grammatical or spelling errors. 

[Gagaloo911 12,959]

Im just reporting, doesnt mean i agree

 

the IMF in my opinion has some pretty extreme and wrekless opinions economically and even worse, financially

 

they were agaisnt Austerity in Europe and said Europe should spend more to stimulate... Yet Europe had a sovereign debt crisis as in, Government debt was too high and an unstable Government debt market causes the entire credit market to go shaky (would take too long for me to explain why but its interconnected) and it caused the recession triggered by the US in 2008 (which had different root causes) to be much worse in Europe

 

you cant spend ur way out of a debt crisis if thats the problem to begin with. Its like telling an alcoholic whos in emotional pain with his problem to drink more alcohol to numb his pain... In the long run ur making it way worse... Yet thats what the IMF suggested  

​I know, I wasn't directing it at you, just stating how I feel about them.

 

They are a terrible organization.

[Goosey 3,017]

Well, they are trying to balance the budget.

[Economy 52,861]

​I know, I wasn't directing it at you, just stating how I feel about them.

 

They are a terrible organization.

I dont think their terrible. I just think they are wrong in half of their opinions

 

Canadas debt to GDP Ratio is only 31% or so and our interest rates are low. Even so 8.9% of this years budget goes towards servicing existing debt (interest payments). That 8.9% is going to total waste!

 

Now much of the developed world spends a wooping 20% to 30% of budget servicing debt. Those "investments" made with borrowed money that were suppostu pay off... Do they compensate for the amount if money u gotta throw away after in interest?

 

There are times when it may be absolutely necessairy to run a deficit like during severe recessions, or if there are infrastructure projects that are needed and cant wait etc

 

but generally speaking overspending is a very slippery slope to go into