It appears that Liberal math has taken over again.
https://www.bloomberg.com/politics/articles/2017-03-27/trudeau-misses-goal-with-budget-math-canada-economy-watch
Showing posts with label Dudget. Show all posts
Showing posts with label Dudget. Show all posts
Monday, March 27, 2017
Wednesday, March 15, 2017
Happy March 22nd, 2017: Another Dudget Day
In another of former Minister of Finance Joe Oliver's sobering contributions to the Financial Post, he has outlined the absurdity of even thinking of tinkering with the Capital Gains Tax exemption. This has various repercussion and would impact every Canadian directly in their own portfolios, savings, future pension values and the Canadian dollar...NOT JUST THE RICH (as the Liberals like you to believe in their smoke and mirrors, everything-for-the-middle-class approach).
As Canadians we have only one major tax-free vehicle to attain wealth. That is, our primary residences. As we scurry under rocks to protect ourselves from further random lightning strikes from the sh!tstorm cloud filled Liberal skies, where will savings and capital go? To the last bastion of tax free relief - the housing market - which will only drive up housing costs even further.
The Liberals have been at the helm now for almost a year and a half with no more clarity on what the final deficit will be (except likely to be higher) nor when will be able to pay off (well, we know the answer is no).
Unfortunately when you mention "Liberals" and "taxation", it has more of a connection like "wine and cheese", not "oil and water"....oh right, the Liberals really don't like oil.
Happy March 22nd...Like Father, Like Son
http://business.financialpost.com/fp-comment/joe-oliver-drunk-on-spending-the-liberal-governments-too-addled-to-see-the-idiocy-of-raising-capital-gains-taxes
As Canadians we have only one major tax-free vehicle to attain wealth. That is, our primary residences. As we scurry under rocks to protect ourselves from further random lightning strikes from the sh!tstorm cloud filled Liberal skies, where will savings and capital go? To the last bastion of tax free relief - the housing market - which will only drive up housing costs even further.
The Liberals have been at the helm now for almost a year and a half with no more clarity on what the final deficit will be (except likely to be higher) nor when will be able to pay off (well, we know the answer is no).
Unfortunately when you mention "Liberals" and "taxation", it has more of a connection like "wine and cheese", not "oil and water"....oh right, the Liberals really don't like oil.
Happy March 22nd...Like Father, Like Son
http://business.financialpost.com/fp-comment/joe-oliver-drunk-on-spending-the-liberal-governments-too-addled-to-see-the-idiocy-of-raising-capital-gains-taxes
Tuesday, November 1, 2016
Deficit...Infrastructure Bank...No Matter What It Is Called, the Liberals Are Drunken Sailor Spenders
(from a much earlier post found in "draft" folder that appears I forgot to hit "send")
See earlier post, "Like Father, Like Son", this elected Canadian federal government is out of touch and out of control. Yes the Canadian economy is weak and slow to any recovery. Yes we are tied to the US GDP (which is weak and slow). Yes there are tens of thousands of Albertan oil sands workers out of work (I can hear Notley and Mulcair smirking). Yes the unemployment rate in Canada is 7.0%....yes 7%.0!!!! Yet this government wants to "spend their way out of it" selling an infrastructure financial panacea, increasing immigration levels (unemployment? that's right...7.0%) and pressing on with seasonal foreign workers (remember 7.0%?). The Liberals' drunken sailor spending habits and fictional math skills are a toxic combination for all Canadians.
But if you live in Ontario, you also have Wynne ("The Kathleen") to deal with. One day after hallowe'en and I'm feeling spooked all over again!
Deficit...Infrastructure Bank...No Matter What It Is Called, the Liberals Are Drunken Sailor Spenders
See earlier post, "Like Father, Like Son", this elected Canadian federal government is out of touch and out of control. Yes the Canadian economy is weak and slow to any recovery. Yes we are tied to the US GDP (which is weak and slow). Yes there are tens of thousands of Albertan oil sands workers out of work (I can hear Notley and Mulcair smirking). Yes the unemployment rate in Canada is 7.0%....yes 7%.0!!!! Yet this government wants to "spend their way out of it" selling an infrastructure financial panacea, increasing immigration levels (unemployment? that's right...7.0%) and pressing on with seasonal foreign workers (remember 7.0%?). The Liberals' drunken sailor spending habits and fictional math skills are a toxic combination for all Canadians.
But if you live in Ontario, you also have Wynne ("The Kathleen") to deal with. One day after hallowe'en and I'm feeling spooked all over again!
Monday, May 30, 2016
Liberals and their spending habits: amazing what a month can do
Amazing what one month of spending can do (I certainly felt it on my Visa after my Dublin trip). Here's to "sunny ways"...
Wednesday, April 6, 2016
2016 Federal Dudget: Drumroll Please.... $29.4B!
Noticed this was in "Draft" section the whole time. Oh well, posting it anyway...
Monday, March 21, 2016
The Liberals' First "Dudget": A Lower Loonie and How to Benefit
The Liberals will be releasing the party's first federal budget tomorrow (March 22, 2016) after markets close. We will see if Justin has learned anything living the insulated upbringing in a family supported by the wealth of politics.
The rumour mill has been churning with speculation that capital gains tax may be tinkered with, which if so, will only inflate the housing market even more as this will be the last bastion of tax efficient vehicles available to Canadians, permanent residents and others who stay or invest here. The Liberals would rather take away all advantages and rewards of those who take on risk of building a company, hiring people and selling it in a tax efficient way. Or perhaps penalizing investors from taking a high risk equity investment in a startup that may become something revolutionary (BlackBerry? Love it or hate it , fortunes were made by dedicated, hard working people, without which none of these companies would be born). The Liberals would prefer to tax these events more similar to someone bringing a pay cheque home every two weeks. Keep your head down, be like everyone else, don't rock the boat. If the Liberals truly want innovation, well they will have just killed it if the capital gains tax is diminished.
Also rumoured, a greater than $20B deficit (or something certainly greater than the $10B Liberals were elected on) or other such surprises as changes for small business owners.
The C$ closed higher at 0.77. Once Morneau (Finance Minister) starts speaking tomorrow (similar to when the Red Atlantic seats started rolling in during election night, during Justin's swearing in ceremony, and comments in Paris at the climate change fiasco), the C$ should begin to tick downward before your eyes. Those US and Mexican vacations will likely be deferred.
How to play it? Buying "put options" on currencies is not that easy as a retail investor. Personally, for reasons that are to be part of another posting, I would be buying gold and buying it in C$ terms. Simply, gold is going to increase (reasons later) and the C$ is going to be weaker starting Tuesday afternoon, Eastern time zone.
More specifically, buy gold in C$ terms such as the Central fund of Canada and Sprott Physical Gold Trust. Links below.
http://mobile.tmxmoney.com/quote/?symbol=CEF.A
http://mobile.tmxmoney.com/quote/?symbol=PHY.U
Or something a little more exotic but still doable in even the most basic online trading account, buy call options on GLD (SPDR Gold Trust, www.spdrgoldshares.com).
May be a way to ease that all inclusive price shock in Cancun or Florida.
Sunday, February 28, 2016
Kevin O'Leary for a political leadership role
Love him or hate him, he knows the value of hard earned dollars, especially AFTER TAX DOLLARS. A lot of Canadians have written him off as a "clown", but after the recent "circus" Canadians have voted in, it would be interesting to at least see Kevin as an advisor to a Finance Minister one day. Looking forward to his commentary March 22nd when Morneau releases the first Liberal Federal Budget (or a "Dudget")
Similarly CBC reporting a potential entry into the Liberal party
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