Economy 52,853 Posted March 26, 2020 Share Posted March 26, 2020 https://www.bnnbloomberg.ca/feds-seeking-lower-credit-card-interest-rates-over-covid-19-1.1412857 Trudeau has convinced the 6 biggest banks and some other Financial institutions to offer temporary defferals on mortgage payments Now that that is accomplished he is in talks to try to get banks and other major credit card companies to temporarily lower their rates so people facing job losses or hour cuts don't have to worry about interest compounding the debt so quickly on top of the principal borrowed Canada is also studying the possibility of a low interest Government loan program Link to post Share on other sites More sharing options...
vyniildisk 12,689 Posted March 26, 2020 Share Posted March 26, 2020 Ohh thats why your username is Economy! Now everything make sense. Great news for Canadians! Link to post Share on other sites More sharing options...
Economy 52,853 Posted March 26, 2020 Author Share Posted March 26, 2020 Just now, omen said: Ohh thats why your username is Economy! Now everything make sense. Great news for Canadians! I been the main economics guy for the last 10 years I even used to have my own pinned thread by the mods called the "daily economy thread" which eventually was removed due to low traffic but if ur relatively new here u might be unaware of my economic nerdiness and history on this cult site Link to post Share on other sites More sharing options...
vyniildisk 12,689 Posted March 26, 2020 Share Posted March 26, 2020 Just now, Economy said: I been the main economics guy for the last 10 years I even used to have my own pinned thread by the mods called the "daily economy thread" which eventually was removed due to low traffic but if ur relatively new here u might be unaware of my economic nerdiness and history on this cult site I was suspicious because you seem to have a lot lot of knowledge and i was like ooh wow oh wow. Is such a hard topic honestly in school gives me such a headache. Interesting AF of course but hard to wrap your head around it. Congrats Link to post Share on other sites More sharing options...
Economy 52,853 Posted March 26, 2020 Author Share Posted March 26, 2020 4 minutes ago, omen said: I was suspicious because you seem to have a lot lot of knowledge and i was like ooh wow oh wow. Is such a hard topic honestly in school gives me such a headache. Interesting AF of course but hard to wrap your head around it. Congrats It is complicated lol There's a lot of technicalities and basic economic concepts that also intersect with things that don't always have a black and white correct or wrong answer like math... It's very much on a spectrum and a lot of policies cannot be measured in a linear fashion because in economics things often happen in thresholds so even experts sometimes aren't certain on the amount of impact a policy or event can have and often disagree with eachother Link to post Share on other sites More sharing options...
vyniildisk 12,689 Posted March 26, 2020 Share Posted March 26, 2020 40 minutes ago, Economy said: There's a lot of technicalities and basic economic concepts that also intersect with things that don't always have a black and white correct or wrong answer like math... It's very much on a spectrum and a lot of policies cannot be measured in a linear fashion because in economics things often happen in thresholds so even experts sometimes aren't certain on the amount of impact a policy or event can have and often disagree with eachother I feel so ignorant right now I would like to agree to all of the above and again, this seems good for Canadians. I will put more atenttion in micro and macro economics next time. Link to post Share on other sites More sharing options...
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