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1 hour ago, ArcticCrusher said:

What specific policies do you think contributed to that?

The long term picture is low GDP growth into 2030 @ less then 1.8% while racking up massive debt.  BOFA.

Canada will be lucky if we only drop two places on the list of the world's largest economies.

 

Yea.  The baby boomers are all retiring and will be a drag on the economy for quite awhile.  Couple that with technology changes in the workforce, lower tax rates on corporations and oil at low prices and we won't be seeing any surpluses for quite some time no matter who is PM.  

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52 minutes ago, ICEMAN! said:

Yea.  The baby boomers are all retiring and will be a drag on the economy for quite awhile.  Couple that with technology changes in the workforce, lower tax rates on corporations and oil at low prices and we won't be seeing any surpluses for quite some time no matter who is PM.  

A drag on the economy! :lol:Yeah right. Wake up dummy. This is the most affluent group of retirees history has ever seen. They have worked hard, invested wisely and saved. They came through a time when investments were growing rapidly. Early1970s a 30 year fixed mortgage rate started at 7.25% late 1970s was over 10 % and 1981 about 17.5%. The rate didn't go under 10%  again until 1986. Their investments were seeing similar returns.

Now those retirees are spending that money and having a hell of a good time doing it. Many are choosing to unlock the equity in their homes at some point during their retirement and spending that money as well. Imagine having an extra $750K  available to spend on top of your pension and investments. I'm at the tail end of the baby boomer era and I know that I will have more disposable income in my retirement years than I did when I was working.

A recent survey found that well over half of those retired or about to retire said it was their money and they deserved to enjoy it. They were going to spend it and have a good time doing it. Their kids can have whatever is left over if there is any.

They will inject large amounts of money into the economy rather than be a drain on it.

Edited by 02sled
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45 minutes ago, ICEMAN! said:

Yea.  The baby boomers are all retiring and will be a drag on the economy for quite awhile.  Couple that with technology changes in the workforce, lower tax rates on corporations and oil at low prices and we won't be seeing any surpluses for quite some time no matter who is PM.  

That's a cop out,  we have an idiot steering the ship.  The lower $$$ is helping exports and we are not as dependent on oil as other countries.

His advisers have repeated calls to keep Harper's increased retirement age for OAS, like it or not it was the right thing to do.

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1 minute ago, 02sled said:

A drag on the economy! :lol:Yeah right. Wake up dummy. This is the most affluent group of retirees history has ever seen. They have worked hard for their money, invested wisely and saved. They also came through a time when those investments were growing rapidly. Early1970s a 30 year fixed mortgage rate started at 7.25% late 1970s was over 10 % and 1981 peaked about 17.5%. The rate didn't go under 10%  again until 1986. Their investments were seeing similar returns.

Now those retirees are spending that money and having a hell of a good time doing it. Many are choosing to unlock the equity in their homes at some point during their retirement and spending that money as well. Imagine having an extra $750K  available to spend on top of your pension and investments. I'm at the tail end of the baby boomer era and I know that I will have more disposable income in my retirement years than I did when I was working.

A recent survey found that well over half of those retired or about to retire said it was their money and they deserved to enjoy it. They were going to spend it and have a good time doing it. Their kids can have whatever is left over if there is any.

Liberals don't have any disposable income 02.

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5 minutes ago, ArcticCrusher said:

Liberals don't have any disposable income 02.

I guess I'm not a liberal then and my friends must not be either. One of those drains on the economy who retired about 4 years ago sent me an email from his winter home in Florida a couple of weeks ago. He said I'm spending my kids inheritance. He went boat shopping and bought himself a Fountain Lightning to be delivered to Midland this spring. He didn't tell me how much it cost but I looked online and found a used 2009 in Sarasota for $260K. He bought his new. He doesn't like Truedope either.

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4 minutes ago, 02sled said:

I guess I'm not a liberal then and my friends must not be either. One of those drains on the economy who retired about 4 years ago sent me an email from his winter home in Florida a couple of weeks ago. He said I'm spending my kids inheritance. He went boat shopping and bought himself a Fountain Lightning to be delivered to Midland this spring. He didn't tell me how much it cost but I looked online and found a used 2009 in Sarasota for $260K. He bought his new. He doesn't like Truedope either.

hahaha

How does vacationing in a foreign country and buying a boat there help our economy exactly?

:lmao:

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34 minutes ago, ICEMAN! said:

hahaha

How does vacationing in a foreign country and buying a boat there help our economy exactly?

:lmao:

What an idiot... you claimed that the retirees are a drain on the economy. On the contrary. They have lots of money to spend and are spending it is the point.

Snowbirds also spend plenty of money here. They just aren't fond of winter. Do you think they live in poverty here but can afford to go south for the winter?

While away they pay to have their house checked and maintained weekly. There will be plenty spent on docking at the marina, fuel, maintenance storage and accessories. Then there will be the money spent on docking at various marinas around Georgian Bay and their services as they travel in the boat. That's just the boat. You want a Fountain, guess what, no matter where you buy it the bulk of that purchase $ is going south of the border since they don't make them here. An enormous % of what we buy here is made offshore. Few boats and RV's just as an example are made in Canada.

My prediction is most of the baby boomer retirees inject more money into the Canadian economy annually than you do. They have much more leisure time and are going to spend the money to enjoy it.

 

 

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3 minutes ago, 02sled said:

What an idiot... you claimed that the retirees are a drain on the economy. On the contrary. They have lots of money to spend and are spending it is the point.

Snowbirds also spend plenty of money here. They just aren't fond of winter. Do you think they live in poverty here but can afford to go south for the winter?

While away they pay to have their house checked and maintained weekly. There will be plenty spent on docking at the marina, fuel, maintenance storage and accessories. Then there will be the money spent on docking at various marinas around Georgian Bay and their services as they travel in the boat. That's just the boat. You want a Fountain, guess what, no matter where you buy it the bulk of that purchase $ is going south of the border since they don't make them here. An enormous % of what we buy here is made offshore. Few boats and RV's just as an example are made in Canada.

My prediction is most of the baby boomer retirees inject more money into the Canadian economy annually than you do. They have much more leisure time and are going to spend the money to enjoy it.

 

 

Their health care is all free too right?  And how much do they pay in taxes?

They will be a net drain, no doubt about it.  Their fuel taxes and day trips to the CN Tower aren't going to make up for the hundreds of millions in additional health care costs.

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3 minutes ago, ICEMAN! said:

Their health care is all free too right?  And how much do they pay in taxes?

They will be a net drain, no doubt about it.  Their fuel taxes and day trips to the CN Tower aren't going to make up for the hundreds of millions in additional health care costs.

Im sure alot of baby boomers have pensions...and heslth plans that follow them into retirement.

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:pc:

OTTAWA—Federal numbers released quietly by the government late last month are painting a bleak picture of Canada’s financial future — one filled with decades of deficits.

The report, published on the Finance Department website two days before Christmas, predicts that barring any policy changes the federal government could be on track to run annual shortfalls until at least 2050-51.

The document says that if such a scenario plays out, the federal debt could climb past $1.5 trillion by that same year — more than double its current level.

To help explain the prediction, the report points to the major economic challenge caused by the gradual retirement of baby boomers. The demographic shift is expected to shrink workforce participation, erode labour productivity and drive up expenditures for things like elderly benefits.

https://www.google.ca/amp/s/www.thestar.com/amp/business/2017/01/05/canada-on-track-for-decades-of-deficits-federal-analysis-warns.html

:goodpost:

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16 minutes ago, ICEMAN! said:

Their health care is all free too right?  And how much do they pay in taxes?

They will be a net drain, no doubt about it.  Their fuel taxes and day trips to the CN Tower aren't going to make up for the hundreds of millions in additional health care costs.

Quit being an idiot. You know all those RRSP's and CPP that they paid into. They are paying income tax on that as they take it out and they are definitely taking it out and spending it. :lol:When they take money out of their investments they are paying capital gains. They also paid tax on that money before they invested it. The retirees with large amounts of money invested in Canada are fueling the Canadian economy. The 20 year old sure isn't. Somebody has to invest in stocks, bonds and mutual funds to keep business operating. Day trips to the CN tower! The retirees I know are spending a whole lot more money annually than the working people I know. They are keeping local economies going and travel within Canada as well doing things they didn't have time to do when working. They are buying whatever toys they feel they want and damn the practicality. Eventually they will need medical attention but they have paid into that all of their lives. There is also a big difference in attitudes. Take a look at the typical hospital emergency room. How many of them are seniors versus how many are there because they have a cough. They didn't run to the doctor for a sniffle or a boo boo on their finger like so many do today. My medical and dental coverage that I paid into for about 40 years is still covering me.

Edited by 02sled
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1 minute ago, 02sled said:

Quit being an idiot. You know all those RRSP's and CPP that they paid into. They are paying income tax on that as they take it out and they are definitely taking it out and spending it. :lol:When they take money out of their investments they are paying capital gains. They also paid tax on that money before they invested it. The retirees with large amounts of money invested in Canada are fueling the Canadian economy. The 20 year old sure isn't. Somebody has to invest in stocks, bonds and mutual funds to keep business operating. Day trips to the CN tower! The retirees I know are spending a whole lot more money annually than the working people I know. They are keeping local economies going and travel within Canada as well doing things they didn't have time to do when working. They are buying whatever toys they feel they want and damn the practicality. Eventually they will need medical attention but they have paid into that all of their lives. There is also a big difference in attitudes. Take a look at the typical hospital emergency room. How many of them are seniors versus how many are there because they have a cough. They didn't run to the doctor for a sniffle or a boo boo on their finger like so many do today.

Cute stories but you're dumb as a fucking stump.

:bc:

"To help explain the prediction, the report points to the major economic challenge caused by the gradual retirement of baby boomers. The demographic shift is expected to shrink workforce participation, erode labour productivity and drive up expenditures for things like elderly benefits."

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4 minutes ago, ICEMAN! said:

:pc:

OTTAWA—Federal numbers released quietly by the government late last month are painting a bleak picture of Canada’s financial future — one filled with decades of deficits.

The report, published on the Finance Department website two days before Christmas, predicts that barring any policy changes the federal government could be on track to run annual shortfalls until at least 2050-51.

The document says that if such a scenario plays out, the federal debt could climb past $1.5 trillion by that same year — more than double its current level.

To help explain the prediction, the report points to the major economic challenge caused by the gradual retirement of baby boomers. The demographic shift is expected to shrink workforce participation, erode labour productivity and drive up expenditures for things like elderly benefits.

https://www.google.ca/amp/s/www.thestar.com/amp/business/2017/01/05/canada-on-track-for-decades-of-deficits-federal-analysis-warns.html

:goodpost:

They had this info for 2 1/2 months before quietly releasing it. 

A smart government adapts for changes.  What does Justin do?  Budgets will balance themselves.

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Just now, ArcticCrusher said:

They had this info for 2 1/2 months before quietly releasing it. 

A smart government adapts for changes.  What does Justin do?  Budgets will balance themselves.

He's going to stop baby boomers from retiring!

Duhhh

It's a demographic shift.  No PM can do anything about it.

:lmao:

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1 minute ago, ICEMAN! said:

He's going to stop baby boomers from retiring!

Duhhh

It's a demographic shift.  No PM can do anything about it.

:lmao:

Raise the retirement age since people are living longer.  Fuck some government pensions still have them retiring at 50, that's OK when you have a plan that is self sustaining but we know that isn't the case.  Justin has been warned to leave the increased retirement for OAS alone, do you think him bringing it back down is helping?

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20 minutes ago, ICEMAN! said:

:pc:

OTTAWA—Federal numbers released quietly by the government late last month are painting a bleak picture of Canada’s financial future — one filled with decades of deficits.

The report, published on the Finance Department website two days before Christmas, predicts that barring any policy changes the federal government could be on track to run annual shortfalls until at least 2050-51.

The document says that if such a scenario plays out, the federal debt could climb past $1.5 trillion by that same year — more than double its current level.

To help explain the prediction, the report points to the major economic challenge caused by the gradual retirement of baby boomers. The demographic shift is expected to shrink workforce participation, erode labour productivity and drive up expenditures for things like elderly benefits.

https://www.google.ca/amp/s/www.thestar.com/amp/business/2017/01/05/canada-on-track-for-decades-of-deficits-federal-analysis-warns.html

:goodpost:

More Liberal BS spin. Gradual retirement of baby boomers! What a joke. The vast majority of the baby boomers which began post war were born beginning in 1946 and the end of the baby boom was around 1960. So the earliest baby boomers were starting to retire in the range of 2006 to 2011 depending on whether the chose to retire at 60 or 65. The tail end of the baby boomers will be retiring in the range of 2020 to 2025 which is just around the corner. So lots of them are already retired. We are already past the half way point and the largest surge of baby boomers was 1946 to 1950. Just imagine all the employment opportunities this creates for those looking for work. I've been retired for the past year. Guess what, my taxable income is pretty much the same as it was when I was working as I live off my pension and investments. I have more free time so I am spending more on leisure activities and entertainment.

Edited by 02sled
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17 minutes ago, ICEMAN! said:

Cute stories but you're dumb as a fucking stump.

:bc:

"To help explain the prediction, the report points to the major economic challenge caused by the gradual retirement of baby boomers. The demographic shift is expected to shrink workforce participation, erode labour productivity and drive up expenditures for things like elderly benefits."

This coming from the mental midget who can't understand basic economics and ignores the fact the retirees are the most affluent ever and are spending more in retirement than they did when working. Wake up to reality and quit proving your stupidity. You're a die hard Liberal through and through.... you love to live off of other peoples money where the government steals from your pockets daily to piss it away on things they think people need but could take care of better themselves if the government just let them keep their own money.

Edited by 02sled
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6 minutes ago, 02sled said:

This coming from the mental midget who can't understand basic economics and ignores the fact the retirees are the most affluent ever and are spending more in retirement than they did when working. Wake up to reality and quit proving your stupidity. You're a die hard Liberal through and through.... you love to live off of other peoples money where the government steals from your pockets daily to piss it away on things they think people need but could take care of better themselves if the government just let them keep their own money.

Stifle it Cliffy.  You're wrong.....AGAIN.  Go lay down and lick your wounds.

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33 minutes ago, Dave said:

Im sure alot of baby boomers have pensions...and heslth plans that follow them into retirement.

Pensions, investments, health plans etc.

Expected to be a large transfer of wealth to kids over the next decade.  Perhaps Libtards are being left out.  I wonder why.

 

http://business.financialpost.com/personal-finance/parents-will-pass-on-750-billion-to-kids-over-next-decade

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11 minutes ago, ICEMAN! said:

Stifle it Cliffy.  You're wrong.....AGAIN.  Go lay down and lick your wounds.

Admit your wrong as always Liberal butt hurt. I present fact and the best you can come up with is Liberal spin and your own speculation. I guarantee I know more people who are retired than you and how they plan on spending their retirement years. Crawl back under that rock you live under and maybe Truedope will give you a nice big hug. If you're really lucky he may even let you touch forehead to forehead.

Edited by 02sled
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