Where is Canada getting CERB monies?
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I'm guessing they have some sort of reserve that they're tapping into, which won't last forever, so they'll go into an even bigger deficit and to fill the coffer again they'll tax us to death like bazokajoe points out.
any tax lawyer would fight this? they shut down the economy people applying for CERB have no other option
Yepper issuing bonds printing money & buying them back...hopefully the house of cards doesn’t collapse in the next year or so & we hear that term again junk bonds...
In a prior life one of the areas in my job description was South America (Brazil, Argentina, etc.). Hyperinflation!
This means your house will be worth $30mm but a loaf of bread will cost $30,000.
https://en.wikipedia.org/wiki/Hyperinflation_in_Brazil
This means your house will be worth $30mm but a loaf of bread will cost $30,000.
https://en.wikipedia.org/wiki/Hyperinflation_in_Brazil
All our property tax, unemployment insurance and the hst taxes will go up to pay for all these shits.
After the recession, expect huge inflation.
They’ll need to cut aid to other countries, cut social services, etc etc.
All that will widen the gap between the rich and the poor. When the gap gets wide enough, like we’ve seen in other places, the revolution is coming. I think my grandkids will fight a civil war.
They’ll need to cut aid to other countries, cut social services, etc etc.
All that will widen the gap between the rich and the poor. When the gap gets wide enough, like we’ve seen in other places, the revolution is coming. I think my grandkids will fight a civil war.
Unless your income inflates with the inflation, your purchasing power will decrease, which is basically the same as a pay cut.
Understood, and great point. Mine income is directly tied to inflation. For anyone in a stagnant wage position this is bad news.
Income is only tied to inflation in 2 circumstances I can think of: 1) an indexed pension, and 2) a collective agreement with a COLA clause. Both are jeopardized by the economic consequences of this pandemic. Indexed pension plans will accumulate unfunded liability if their investments tank, forcing amendments to the plan. COLA clauses don't mean much in face of layoffs.
