Loading ...It’s official — Trudeau has now literally doubled down on debt
Pop the champagne! It’s now official. Prime Minister Justin Trudeau has doubled the federal debt.
It took nearly two dozen prime ministers and a century and a half for the federal government to rack up $616 billion in debt, which is where the total stood before Trudeau’s first year in office. But less than a decade later, on Aug. 30 of this year, the debt has officially doubled to $1.232 trillion. That’s according to calculations done by the Canadian Taxpayers Federation based on annual debt increases outlined in the government’s latest budget .
What a Turd
Flush it
maybe he has a pager in his pocket
Looking at charts of the Canadian Federal Debt back 50 years, we went off the rails during the Scamdemic starting in 2020. Same in the US.
Trying to the compare the value of an item 50 years ago to the same equivalent is difficult. Technology, etc.
Need to factor in so many variables. Muni and Provincial debt, value of infrastructure, etc. Higher Standard of Living.(that’s debatable)
Also, Technology and offshoring production has lowered the cost of electronics.
Need to look at wage and population growth over that period. It’s complex.
The question is: Was the debt ever meant to be paid off?
Personally , I don’t believe it was.
Although, growing faster than the rate of GDP is a recipe for disaster. The Scamdemic likely pushed most countries over the point of no return and will lead to a complete loss of control of the currencies.
The next question is: Why invest in PM bullion? Saving in cash is a recipe for devaluation.
Gold is the store of value that allows a transition between the old currency and the inevitable new. Good producing miners turbocharge returns. Whether the prices are controlled is another matter.
I don’t care what the debt is as long as I am protected. Why? Because it’s out of our control as citizens.
When ever I hear Politicians say, the Debt does not matter, I wonder if they are doing the same with their investments.