BOC..... again

[sumdumguy]

An acquaintance owns a RV sales company - everything is financed.

[ajl]

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.

[biglentil]

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.

[macdon02]

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...

[iceman]

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

[Oliver88]

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. 🙈

[GDR]

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.

[farmaholic]

Who the **** 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?

[Klause]

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.

[AlbertaFarmer5]

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.

[malleefarmer]

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

[chuckChuck]

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?

[Guest]

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 ???

[AlbertaFarmer5]

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.

[AlbertaFarmer5]

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.