BOC..... again

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BOC..... again

Jul 11, 2018 | 10:24 1 So another hike. Wife works at major bank, first time home owner rate........ 6.45% last week before the hike. Was 5.3% June 7. Anyone priced a land mortgage today? This is gonna hurt Reply With Quote
Jul 11, 2018 | 10:27 2 Yup and then add in Trump's ideas and Justin's fucking stupid plan sending fuel prices higher ....

We are collateral damage in western canada....seeding it all to grass over the next few years is starting to look better every day.

or taking the 250k per quarter and just saying fuck it... Reply With Quote
helmsdale's Avatar Jul 11, 2018 | 11:44 3 God forbid this leads to any appreciation of the $CDN, and we have to buy all our inputs on a depreciated dollar, and sell our output on an appreciated dollar. Reply With Quote
Jul 11, 2018 | 11:53 4 Apparently, more than 25% of Canadians cannot financially tolerate any rate increase impacting their monthly debt payments. Cdn bankruptcies will begin to rise (IMO).

What is the Bank of Canada doing?? . . . . Reply With Quote
Jul 11, 2018 | 11:54 5 This could help cool off overinflated home prices which is overdue.

It could slow down the farmland price increases as well but it might not. Reply With Quote
Jul 11, 2018 | 12:37 6 On a business point bucket's idea of taking the money and running might be the best.

There is an old saying that I haven't heard in a long time but used to hear the old-timers say it all the time in the early 80's "Living on the interest" Reply With Quote
Jul 11, 2018 | 12:46 7 ​A recent Ipsos poll conducted by MNP LTD. finds Saskatchewan residents are finding it difficult to make ends meet – especially when compared to other provinces. One third (33%) of Saskatchewan debtholders say they have absolutely no wiggle room at the end of the month. And nearly half (48%) admit they’re $200 or less from financial insolvency. Even with a four point drop over the previous quarter, Saskatchewan residents are among the most likely in Canada to be near bankruptcy

Seems the data comes in a bong

https://mnpdebt.ca/en/blog/saskatchewan-residents-show-optimism-despite-persistent-debt-struggles
Last edited by macdon02; Jul 11, 2018 at 13:00.
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Jul 11, 2018 | 12:49 8
Quote Originally Posted by errolanderson View Post
Apparently, more than 25% of Canadians cannot financially tolerate any rate increase impacting their monthly debt payments. Cdn bankruptcies will begin to rise (IMO).

What is the Bank of Canada doing?? . . . .
They see the writing on the wall. Massive early 80's style price inflation. They are trying to put out a blaze before it turns into an inferno. Problem is any rate hikes cause massive structural cracks in the foundation of the economy built on funny money.
Last edited by biglentil; Jul 11, 2018 at 12:52.
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Jul 11, 2018 | 14:07 9
Quote Originally Posted by seldomseen View Post
On a business point bucket's idea of taking the money and running might be the best.

There is an old saying that I haven't heard in a long time but used to hear the old-timers say it all the time in the early 80's "Living on the interest"

My dad lived on interest, bought land for SFA, got better prices than today when it actually bought something,,,,and paid cash...

this current farming cycle is crazy when I think about it.

If I farmed like dad i couldn't afford the fuel bill...he could....

But i guess everyone today can make it up on volume...lol. Reply With Quote
Jul 11, 2018 | 14:25 10
Quote Originally Posted by Oliver88 View Post
This could help cool off overinflated home prices which is overdue.

It could slow down the farmland price increases as well but it might not.
Not going to happen. Foreign ownership rules are so lax they are pricing Canadians Into the poor house. Reply With Quote
Jul 11, 2018 | 15:18 11
Quote Originally Posted by macdon02 View Post
​A recent Ipsos poll conducted by MNP LTD. finds Saskatchewan residents are finding it difficult to make ends meet – especially when compared to other provinces. One third (33%) of Saskatchewan debtholders say they have absolutely no wiggle room at the end of the month. And nearly half (48%) admit they’re $200 or less from financial insolvency. Even with a four point drop over the previous quarter, Saskatchewan residents are among the most likely in Canada to be near bankruptcy

Seems the data comes in a bong

https://mnpdebt.ca/en/blog/saskatchewan-residents-show-optimism-despite-persistent-debt-struggles
Not surprising, look at the amount of toys on the road every weekend, skidoos, boats, quads, travel trailers plus likely a payment on an over priced cabin then burning the fuel to get there. Just put it on the never never plan. Recreation is a priority and working isn't . Wasn't there an ad campaign back some years that touted Saskatchewan as a place to "work to live" not "live to work". Just relax, live it up everything will just take care of itself. Reply With Quote
Jul 11, 2018 | 16:52 12 A budget will balance itself.... Reply With Quote
Jul 11, 2018 | 17:03 13 "A recent Ipsos poll conducted by MNP LTD. finds Saskatchewan residents are finding it difficult to make ends meet – especially when compared to other provinces. One third (33%) of Saskatchewan debtholders say they have absolutely no wiggle room at the end of the month. And nearly half (48%) admit they’re $200 or less from financial insolvency."


Did they follow the lead of the Sask Party and Brad Wall? Everything was going great when a barrel of oil was $100.00 -$120.00 from 2011-2014. Reply With Quote
Jul 11, 2018 | 17:13 14
Quote Originally Posted by blueversi View Post
Not surprising, look at the amount of toys on the road every weekend, skidoos, boats, quads, travel trailers plus likely a payment on an over priced cabin then burning the fuel to get there. Just put it on the never never plan. Recreation is a priority and working isn't . Wasn't there an ad campaign back some years that touted Saskatchewan as a place to "work to live" not "live to work". Just relax, live it up everything will just take care of itself.
side by sides for 30K. people are really stupid. they must think the govt will be there to support them when they retire with no pension savings. better start developing a craving for dog food. Reply With Quote
Jul 11, 2018 | 17:52 15
Quote Originally Posted by MBgrower View Post
side by sides for 30K. people are really stupid. they must think the govt will be there to support them when they retire with no pension savings. better start developing a craving for dog food.
How bout $220000 wakeboard boats or RV's financed over 20yrs. Reply With Quote
Jul 11, 2018 | 18:24 16 An acquaintance owns a RV sales company - everything is financed. Reply With Quote
ajl
Jul 11, 2018 | 19:45 17
Quote Originally Posted by errolanderson View Post
Apparently, more than 25% of Canadians cannot financially tolerate any rate increase impacting their monthly debt payments. Cdn bankruptcies will begin to rise (IMO).

What is the Bank of Canada doing?? . . . .
Rates would be much higher if there was no bank of Canuskistan printing money with these levels of debt. Then again debt would not be this high if there was no B of C printing money. Time to get rid of central banks altogether. Reply With Quote
Jul 11, 2018 | 20:10 18
Quote Originally Posted by ajl View Post
Rates would be much higher if there was no bank of Canuskistan printing money with these levels of debt. Then again debt would not be this high if there was no B of C printing money. Time to get rid of central banks altogether.
Unfortunately the Central Bank of Canada is actually a private entity. Its disguised as a "special" crown corp. Reply With Quote
Jul 11, 2018 | 21:16 19
Quote Originally Posted by ajl View Post
Rates would be much higher if there was no bank of Canuskistan printing money with these levels of debt. Then again debt would not be this high if there was no B of C printing money. Time to get rid of central banks altogether.
BIS the mother of all central banks just told Haiti to jack taxes... it didn't go so well as the locals went full blown bat shit crazy. I agree. End em. It would be different if they actually controlled something economic... Reply With Quote
iceman's Avatar Jul 11, 2018 | 21:40 20 Wow from what read here I'm really out of touch with the price of these toys now.

But doesn't this 1.25L gas really start to speed up the process with these pay cheque to pay cheque consumers? I read somewhere that before every recession we have a oil price shock. Hmmm

Iceman Out Reply With Quote
Jul 11, 2018 | 22:46 21
Quote Originally Posted by biglentil View Post
How bout $220000 wakeboard boats or RV's financed over 20yrs.
WOW.....crazy if true.

Higher interest rates might not influence people doing things this ridiculous. 🙈 Reply With Quote
GDR
Jul 11, 2018 | 22:55 22
Quote Originally Posted by Oliver88 View Post
WOW.....crazy if true.

Higher interest rates might not influence people doing things this ridiculous. 🙈
Probably won't change their choices or decisions but may influence how long they get to keep them! Most "toys" are actually necessities for people today. Reply With Quote
farmaholic's Avatar Jul 11, 2018 | 23:15 23 Who the fuck would be stupid enough to take a 20 year loan out on an RV? They will be on the wrong side of owing more than its worth real fast!

What do people go to school for? Afew of them must of wanted to be astronauts and just took up space.

Is there even an economics class in high school these days? Reply With Quote
Klause's Avatar Jul 11, 2018 | 23:27 24
Quote Originally Posted by farmaholic View Post
What do people go to school for? Afew of them must of wanted to be astronauts and just took up space.

Is there even an economics class in high school these days?

Omg there's whiskey all over the floor now you made me laugh so hard!!! Awesome farma!!!!!



And no. According to my wife there isn't. Reply With Quote
Jul 11, 2018 | 23:41 25
Quote Originally Posted by Klause View Post
Omg there's whiskey all over the floor now you made me laugh so hard!!! Awesome farma!!!!!



And no. According to my wife there isn't.
My sister teaches a Career and Life Management class in high school. Which has the potential to be quite useful, but from what I remember of when I took it, it was anything but. I've considered offering to come in as a guest speaker to offer some real world financial and economic advice. Anything to help avoid another generation who would vote for NDP or Trudeau lite, or even Trudeau lighter in the future. Reply With Quote
Jul 12, 2018 | 03:13 26 im no guru.

but read the other day "figures" which suggested from memory 37% of houses in australia are currently interest only loans.

1 what happens when interest rates rise.

2 what happens when housing prices ease which is happening now especially those that have purchased in last 2 years

3 kaboom.

4 ps in australia banks are not allowed to do interest only loans with no principal reduction

edit part 4 has only been in for maybe 3 months Reply With Quote
Jul 12, 2018 | 06:10 27
Quote Originally Posted by AlbertaFarmer5 View Post
My sister teaches a Career and Life Management class in high school. Which has the potential to be quite useful, but from what I remember of when I took it, it was anything but. I've considered offering to come in as a guest speaker to offer some real world financial and economic advice. Anything to help avoid another generation who would vote for NDP or Trudeau lite, or even Trudeau lighter in the future.
Albertan's and their one party state for most of the last 40 years, have spent most of their one time resource revenues without saving anything for future generations. Alberta has not been a good example of sustainable fiscal management.

Compared to fiscally conservative Norway, Alberta chose to spend it all without a good plan for a sustainable future.

Since you most likely repeatedly voted for this Alberta example of fiscal incompetence, how can you offer any sound economic advice to students?
Last edited by chuckChuck; Jul 12, 2018 at 06:17.
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Jul 12, 2018 | 06:43 28
Quote Originally Posted by chuckChuck View Post
Albertan's and their one party state for most of the last 40 years, have spent most of their one time resource revenues without saving anything for future generations. Alberta has not been a good example of sustainable fiscal management.

Compared to fiscally conservative Norway, Alberta chose to spend it all without a good plan for a sustainable future.

Since you most likely repeatedly voted for this Alberta example of fiscal incompetence, how can you offer any sound economic advice to students?
just like the idiots that voted for this hair brain we have now and stick up for him ? talk about fiscal incompetence ??? Reply With Quote
Jul 12, 2018 | 09:10 29
Quote Originally Posted by chuckChuck View Post
Albertan's and their one party state for most of the last 40 years, have spent most of their one time resource revenues without saving anything for future generations. Alberta has not been a good example of sustainable fiscal management.

Compared to fiscally conservative Norway, Alberta chose to spend it all without a good plan for a sustainable future.

Since you most likely repeatedly voted for this Alberta example of fiscal incompetence, how can you offer any sound economic advice to students?
I don't vote, as a fiscal conservative and social liberal, I've yet to find a party which in any way represents my views. I want government to stay out of my wallet and out of my bedroom, but unfortunately, those two conditions are not offered in one package. Reply With Quote
Jul 12, 2018 | 09:13 30
Quote Originally Posted by chuckChuck View Post
Albertan's and their one party state for most of the last 40 years, have spent most of their one time resource revenues without saving anything for future generations. Alberta has not been a good example of sustainable fiscal management.

Compared to fiscally conservative Norway, Alberta chose to spend it all without a good plan for a sustainable future.

Since you most likely repeatedly voted for this Alberta example of fiscal incompetence, how can you offer any sound economic advice to students?
And unfortunately, successive governments both provincially and federally ( throw in municipally too) have been extremely poor fiscal role models for society, hard to expect citizens to have any financial prudence given the example being set at the highest levels. Reply With Quote