MB Premier Response to Skippys Idiocy

[Oliver88]

Interesting point he made is that in the mid 1980’s the Royal Bank was the largest land owner in Southwest Manitoba.

[jazz]

Yes and I hope everyone that ran to grab those CERB payments realize that too! Watch the whining then it has already started.

I imagine anyone who took these payments that need to be repaid will have to term it out somewhere so basically it will become a 25 yr payment back to the govt with interest rates from your bank. I dont think the average joe can borrow for what the govt can. So Justin lends out a 0.5% and we payback at 3% or higher.

Actually its ingenious when you think about. He just roped millions of people into a second mortgage.

[farmaholic]

I imagine anyone who took these payments that need to be repaid will have to term it out somewhere so basically it will become a 25 yr payment back to the govt with interest rates from your bank. I dont think the average joe can borrow for what the govt can. So Justin lends out a 0.5% and we payback at 3% or higher.

Actually its ingenious when you think about. He just roped millions of people into a second mortgage.

Lots of people have no intention or ability to repay Covid cash.

[wmoebis]

I imagine anyone who took these payments that need to be repaid will have to term it out somewhere so basically it will become a 25 yr payment back to the govt with interest rates from your bank. I dont think the average joe can borrow for what the govt can. So Justin lends out a 0.5% and we payback at 3% or higher.

Actually its ingenious when you think about. He just roped millions of people into a second mortgage.

You are right but what I find ironic is that absolutely nobody offered another option on what could have been done. Even hind sight hasn't come up with anything better, that I've heard. I have no idea if it was done right or not but it is what it is because there was no options on the table.

[jazz]

You are right but what I find ironic is that absolutely nobody offered another option on what could have been done. Even hind sight hasn't come up with anything better, that I've heard. I have no idea if it was done right or not but it is what it is because there was no options on the table.

All the home mortgage deferrals were just added on to the end of the terms. People will have to make a few extra payments at the end of the life to cover it and their over all cost of the mortgage will go up slightly.

All of this is going to pay the country back in 25 yrs and when interest rates are 5% again.

I gotta hand it to Justin, he just slipped a hidden tax on millions of people without them even knowing it.

[walterm]

All the home mortgage deferrals were just added on to the end of the terms. People will have to make a few extra payments at the end of the life to cover it and their over all cost of the mortgage will go up slightly.

All of this is going to pay the country back in 25 yrs and when interest rates are 5% again.

I gotta hand it to Justin, he just slipped a hidden tax on millions of people without them even knowing it.

It wasn't hidden, a deferral is not a write off. You can borrow money and defer payments or principal but that doesn't mean you never have to pay it.

[Oliver88]

It wasn't hidden, a deferral is not a write off. You can borrow money and defer payments or principal but that doesn't mean you never have to pay it.

Thousands will learn this important life lesson. Maybe they will start to save for a rainy day too.....nah they will still borrow $ to buy campers and boats.

[helmsdale]

How can we expect a government to be financially responsible when the majority of the electorate isnt?

They keep parroting the line that a large % of the population is $200 away from not being able to cover their monthly bills... there is no saving for future purchases anymore. If you want it, you just put in on a ho ho hold the payments plan.

It astonishes me the number of people with 2 top of the line vehicles on 84 month payment plans. Wake boats and triple slide granite counter topped 5th wheel campers with bank loans. Entertainment centers on in store payment plans. Living room and bedroom furniture on "no interest, dont make a payment for 12 months" plans. Kitchen and bathroom makeovers on HEloc's. Vacations on credit cards. Etc, etc...

Now how the hell can those people be expected to accept fiscal prudence by government when they cant even safeguard their own personal finances?

[farmaholic]

Just don't pay! What are they going to do? Throw you in jail?
So you get to start over with a new strict set of rules.

[AlbertaFarmer5]

How can we expect a government to be financially responsible when the majority of the electorate isnt?

They keep parroting the line that a large % of the population is $200 away from not being able to cover their monthly bills... there is no saving for future purchases anymore. If you want it, you just put in on a ho ho hold the payments plan.

It astonishes me the number of people with 2 top of the line vehicles on 84 month payment plans. Wake boats and triple slide granite counter topped 5th wheel campers with bank loans. Entertainment centers on in store payment plans. Living room and bedroom furniture on "no interest, dont make a payment for 12 months" plans. Kitchen and bathroom makeovers on HEloc's. Vacations on credit cards. Etc, etc...

Now how the hell can those people be expected to accept fiscal prudence by government when they cant even safeguard their own personal finances?

Every nation gets the government it deserves.
Not sure what us fiscal cons
Did to deserve this, but as an irrelevant minority I suppose it is our fault for not revolting against the Chuck's, before they became the majority.