• Moderators, please send me a PM if you are unable to access mod permissions. Thanks, Habsy.

New Canadian Politics Thread

Deckie007 said:
That actually makes phycological sense, but less so financially. Debt snowball vs debt avalanche. Depends on the person.
Click to expand...
That advice as a standalone would violate the CFP code of ethics. After a very long discussion with a client where it is clearly laid out how many hundreds or thousands in additional interest it would cost the client the psychological aspect could be brought in.
 
It can depend on cash flow pressures at a given point in time and one’s need for flex. But if debt trouble is structurally baked in, “paying the minimum” is obviously no bueno and a more fundamental problem and painful reconciliations are at hand.

Financial literacy has been rolled into math classes, but this is definitely a parenting priority with my kiddos.
 
Wayward DP said:
I'm always shocked by how many people live beyond their means, and the extent to which they do so
Click to expand...
And the extent to which businesses like banks aid and abet them in doing. It's all part of a larger plan to fool people into thinking that the middle class still exists when in reality it is disappearing. Carrying consumer debt is the way people are able to (temporarily) afford the trappings of a traditional middle class lifestyle without actually earning enough money to be in the middle class. Your grandparents may have had a house, 2 cars in the driveway and a camper just like you do now. But the difference is that your grandparents didn't have unfettered access to credit so they could only buy stuff when they had saved enough cash to afford it. Nowadays when you drive down a suburban street, the houses are all sub-prime, and the vehicles in the driveway aren't paid for. One little financial hiccup and the entire edifice comes crashing down.
 
trujaysfan said:
That advice as a standalone would violate the CFP code of ethics. After a very long discussion with a client where it is clearly laid out how many hundreds or thousands in additional interest it would cost the client the psychological aspect could be brought in.
Click to expand...
Yeah that makes sense. I've always paid revolving debt with higher interest rate first. Paying off a lower balance debt to see some progress is helpful for some people to keep them on track.
 
Deckie007 said:
Yeah that makes sense. I've always paid revolving debt with higher interest rate first. Paying off a lower balance debt to see some progress is helpful for some people to keep them on track.
Click to expand...

Yeah, like it's not mathematically sound, but being able to remove a small low interest debt has some merits. But that advice should only come as a "if you are really struggling mentally to keep your affairs in order, here's an alternate that might help you stay on track".

On the mortgage topic, I remember back when I went in to buy my first place, when I went in to the bank to see what they would approve me for, I was frankly shocked at what they were willing to do. I forget the exact numbers, but I was buying a place for 250k or something, and the bank was like "yeah, no worries, anything up to 400k easily falls under our approval range." I'm sure I could have technically afforded that, but it was pretty insane what they were willing to lend. I already thought what i was paying was a lot, never mind what it would have been like had I gotten a place at the max I could have been approved for.
 
UWHabs said:
Yeah, like it's not mathematically sound, but being able to remove a small low interest debt has some merits. But that advice should only come as a "if you are really struggling mentally to keep your affairs in order, here's an alternate that might help you stay on track".

On the mortgage topic, I remember back when I went in to buy my first place, when I went in to the bank to see what they would approve me for, I was frankly shocked at what they were willing to do. I forget the exact numbers, but I was buying a place for 250k or something, and the bank was like "yeah, no worries, anything up to 400k easily falls under our approval range." I'm sure I could have technically afforded that, but it was pretty insane what they were willing to lend. I already thought what i was paying was a lot, never mind what it would have been like had I gotten a place at the max I could have been approved for.
Click to expand...
when we bought our first house last year our mortgage broker kept telling us we're "as good as gold" and that the bank would approve a mortgage that was close to double what we determined our maximum was
 
Leafyblue said:

View: https://www.youtube.com/watch?v=XflM-LKXOW4
Click to expand...

This was just another way for Maher to get on his hobby horse against wokeness.

He talks about the areas with the most air pollution being in Canada. Did you see where those dots on the map were located? Huhe cluster in Northern BC and Alberta where almost no one lives. It's the forest fires, Bill. It's not because Canada's wokeness prevents us from having clean air.

And his takes about delays in Healthcare delivery ignores the fact that one of the main reasons wait times are up isn't immigration, it's conservative provincial governments purposely trying to break the public healthcare system to justify privatization.

And Maher isn't alone. All pundits, even foreign born ones like Fareed Zakaria and Jon Oliver, say things like "despite all its shortcomings, the US is still the best". Well, yeah it is, but only if you're rich enough so that you don't need to consider the state of your finances whenever you have to make a decision about what kind of medical treatment to have. The rest of America either has to go bankrupt or do with less or without.

As Maher himself said near the end of the Overtime segment, "I've been poor and I've been rich and being rich is better." No shit, Sherlock.
 
Shockingly, most of what he says is out of context and his prescription (moving too far "left") obviously isn't the problem with housing or healthcare. It's public underfunding of infrastructure (you know, that lefty shit) and letting the deeply sheltered private markets deliver more and more "solutions" that has increased our prices and decreased our quality of life. Shit, even blaming immigration on "the left" is bullshit. Who do you think asked for cheap foreign labour? (the TFW program originated with those lefty conservatives). Who are the diploma mills farming India's youth for profit in exchange for navigation through the visa and work permit systems? Leftists? The fuck out of here.

To address some of the points specifically

- Well yeah, northern cities are going to produce more emissions per capita genius. They need to burn shit for warmth 6 months of the year. Notice that none of the major cities at similar latitudes to US cities made his chart.

- Yeah, we've got housing issues. But it's mostly two economic islands that drive the bus. Average home price (USD) in Toronto is 801K, and Vancouver is 922K. Which is obviously very expensive. Ontario's avg house price (again, USD) is 593K, and BC's is 692K. If they were US states that would rank BC 3rd, and Ontario would be 5th. This is still high, but hardly this "worse than ours" stuff in any appreciable way. The rest of Canada is downright affordable by American standards.

The household debt to GDP bit is true and is a long term economic issue Canada needs to get under control. This is mostly us paying the bill for barely building any housing for the last few decades. It's mostly an issue for economics wonks though and not something that has a major impact on most Canadians other than them being a few hundred bucks a month shorter than they otherwise would be if wages had grown or housing prices stayed slightly more rational. An issue, but context is important.

- Healthcare spend of 13.3%....OECD has us at 11.2 for 2022, but I'll assume Bill is right here because it doesn't really matter in this comparison. The US spends 16.6% without providing coverage for all citizens

1713300314525.png

and produces at best a mixed bag of outcomes compared to Canada.


All of this is another lazy example of the media blaming the left for authoritarian dipshits being authoritarian and acting like the people following them shouldn't be held accountable for their shitty beliefs.

Fucking clownshoes.
 
Rumours on the twitterverse that Dominic Leblanc is gearing up for a leadership bid which suggests he expects a Trudeau resignation incoming…
 
The price increase is mainly the switch from winter gasoline to summer gasoline plus increase demand. It should drop again in the Fall when we switch back to winter blend. I think as well much of Canada’s gasoline gas is refined in the US and they have a say in the refining cost.

Best solution to cut your summer cost is to drive less.
 
You must log in or register to reply here.
Back
Top