Minyan Mailbag - Canada
Note: Our goal in Minyanville is to remove intimidation from the financial markets and encourage an interactive dialogue among the Minyanship. We share this next discussion with that very intent.
Excellent rant. It got me thinking about Canada's debt so I checked
out the figures (government figures so I don't even know how realistic
The federal debt is roughly C$530 billion (we have paid some down in the last few years, but that ability appears be coming to a close), so with 32 million people that averages out at C$16563, or U.S.$13250, per person. Not so rosy either. But, that's not the end of the unhappiness.
My province has significantly overspent for a generation. Ontario has
C$125 billion in debt; spread amongst 11.5 million that equals another C$10870, or U.S.$8700. And, there has been no surplus for years. Deficits coming for this year and for many forseeable years. So that figure will go up.
The grand total for this Canadian: C$27433, or U.S.$21950. Now, I have two kids (5 and 1) and a wife, so this family apparently owes: C$109732 or U.S.$87800. That bill better not come due any time soon as I am the only one working for the next ten years at a minimum (or so my wife says).
This is truly upsetting when seen in this light. It is enough to drive an otherwise lefty granola-cruncher to madness, or maybe Alberta, or maybe Uruguay.
Thanks and keep up the great work.
Minyan David Mahony
Hmmm. It seems there are plenty of issues for the "alternate fiats" to the U.S. Dollar.
I would be interested in knowing how much of "the Farm" your elected representatives have sold so far. I see the Chinese / Noranda (NRD) deal didn't go ahead. Was it blocked by the Government or your equivalent to Australia's Foreign Investment Review Board? Or did the Chinese find a fatter target? What else has been on the "auction block"?
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