Mike's Daily Comment

Must Read: Your Tax Bill Is Going To Get A Lot Higher

The record low interest rates are bad news for public sector pensions and taxpayers because we’re on the hook for any shortfall. It’s already increased the deficit this year by $7 billion but it’s going to get much worse because of record low interest rates.

You Can Be Anti-Business But Please Know What You’re Talking About

I’m hearing the market drops only impact the “investor class”  – what a load of crap. It hurts workers pension, some companies that rely on travel and tourism will be put out of business. Oil industry workers aren’t getting their job back with today’s oil prices.

You Can Be Anti-Business But Please Know What You’re Talking About

I’m hearing the market drops only impact the “investor class”  – what a load of crap. It hurts workers pension, some companies that rely on travel and tourism will be put out of business. Oil industry workers aren’t getting their job back with today’s oil prices.

It’s The Biggest Financial and Economic Challenge Since the Credit Crisis

The collapse in oil prices combine with the economic impact of COVIDI9 is the most serious challenge to the Canadian economy in 12 years yet we are in a weaker financial position to weather the storm thanks to government actions.

Remember When They Told Us That Deficit Spending Didn’t Matter?

They were wrong – the excessive deficit spending in good times robs us of the financial ammunition we need to offset the negative economic impact of the novel corona virus, which leaves us with one bullet – lower interest rates. And that won’t be near enough.

We’re So Rich

Somebody should tell the BoC to stop worrying about the economic impact of COVID19. After all, when Teck walked away from Frontier and 7,000 jobs and tens of billions in gov revenue Canadians shrugged it off. We’re so rich we can add $25 billion to federal debt in good times.