Indexing and inflation

[myata]

They are saying the inflation hit the highest in 10 years but that's good! It means your MP will get not 1.5 but 2.5% automatic annual rise! That would make a healthy $4,625 pandemic bonus! Are you happy for her, already?

Edited August 19, 2021 by myata

[rshanksdolores]

On 7/28/2021 at 7:27 PM, myata said:

At least banks provide essential service to the society and I'm not advocating only observing. Car loans, consumer loans, mortgages, industry and business loans really hard to get by without. But would I notice if all of a sudden we'd lose MP and GG? I don't think so. Just don't see how, one tiny and microscopic thing I'd need from them. At exorbitant and non-negotiable price.

Yes, I agree with you. Banks provide many sources of funding, for example: сar loans, consumer loans, mortgages, industry and business loans. In my opinion quick loans can be more profitable than traditional loans. You can also find online small loans at various sites. It's very convenient when I can borrow before pay day. You need to look at different sites and options. And then choose the best for yourself

Edited November 23, 2021 by rshanksdolores

[cannuck]

On 7/28/2021 at 10:27 AM, myata said:

At least banks provide essential service to the society and I'm not advocating only observing. Car loans, consumer loans, mortgages, industry and business loans really hard to get by without. But would I notice if all of a sudden we'd lose MP and GG? I don't think so. Just don't see how, one tiny and microscopic thing I'd need from them. At exorbitant and non-negotiable price.

You are spending all of your effort tilting at the windmill of the morons elected by the morons who vote them in and are totally ignorant of how a government, how and economy and how a country can and should work.  Worse yet, the ultimate perpetrators of this gong show you are giving a complete pass!!!!!  For every buck a politician puts in his pocket bankers are taking a thousand, or more like a million.  The "essential services" that banks provide use money from the public who are either paid next to nothing or more likely charged through the nose for the privilege of providing banks billions to use for their own gain.  Then, there is the whole game beyond the "essential services" in which banksters and their finance bretheren do the "money for nothing" thing by manipulating business and finance for their personal benefit - while creating very little value - just inflationary speculative gains.

[myata]

11 hours ago, cannuck said:

Then, there is the whole game beyond l essential services" in which banksters and their finance bretheren do the "money for nothing" thing

I'm not a fan of corporate banking just stating the facts: I used their services when I needed them, voluntarily and in most cases, with certain satisfaction. That was a free and voluntary market, for better or worse it's a fact. Now I don't have the same or anywhere within lightyears deal with politicians. In fact, it's exactly the opposite: you have no say in choosing the product and how much you pay for it, and cannot even walk out. Imagine if a market near you worked like that. What would you call it, surely "a democracy"?

[cannuck]

22 hours ago, myata said:

I'm not a fan of corporate banking just stating the facts: I used their services when I needed them, voluntarily and in most cases, with certain satisfaction. That was a free and voluntary market, for better or worse it's a fact. Now I don't have the same or anywhere within lightyears deal with politicians. In fact, it's exactly the opposite: you have no say in choosing the product and how much you pay for it, and cannot even walk out. Imagine if a market near you worked like that. What would you call it, surely "a democracy"?

That is exactly how bank oligopolies work.  You have no say in the costs or benefits for the services, and they are all nearly identical from bank to bank.  You can walk out one door, but since bank accounts are pretty much a requirement now (ESPECIALLY for a business) you will have to walk into another "competing" door and get screwed over to exactly the same extent.

Government, on the other hand, CAN be defeated.  Unfortunately, we are so ignorant and greedy we just vote for the one who promises to plunder our grandchildren's bank accounts more than the next one.

[Queenmandy85]

The 10 year average rate of return for Royal Bank shares is over 13%. At the moment the share price is $132.00.

Cannuck, instead of complaining about bank profits, you should be thinking, "I gotta get me some of this."  There is nothing holding you back from sharing in those obscene profits.

You talk about banks as though they were owned by some secret cabal of the mafia, rather than your pension fund, mutual funds and ordinary people like you and I. If you start buying 3 shares a month, in 20 years you will be earning over $12,000 per annum. That is if you were silly enough not to use the dividends you earned to buy more stock. How is that bad?

[cannuck]

12 hours ago, Queenmandy85 said:

The 10 year average rate of return for Royal Bank shares is over 13%. At the moment the share price is $132.00.

Cannuck, instead of complaining about bank profits, you should be thinking, "I gotta get me some of this."  There is nothing holding you back from sharing in those obscene profits.

You talk about banks as though they were owned by some secret cabal of the mafia, rather than your pension fund, mutual funds and ordinary people like you and I. If you start buying 3 shares a month, in 20 years you will be earning over $12,000 per annum. That is if you were silly enough not to use the dividends you earned to buy more stock. How is that bad?

Why would I put money in the hands of some else's company??????   ESPECIALLY one that is predatory in its business practice.   What do I tell my shareholders?   "I trust some scumbag bankster with my money, not our company in which you have placed YOUR money???"   I NEVER gamble on something I can't control nor do anything to give credence to illegitimate and unethical business.

I should add: I was trained by the Royal Bank and the knowledge of how they work and what they did gave me the skillset to stop illegal and highly unethical business practices regarding farm foreclosures in the '90s.   We also once owned a risk management business that found extreme corruption at the highest levels of another major Canadian chartered bank.  You have no idea how bad a corporate citizen banks are.

Edited November 26, 2021 by cannuck

[cougar]

On 8/8/2021 at 8:11 AM, myata said:

......., but why are we forced to pay outrageously for the useless facade with no choice whatsoever?

Because it is in their hands and they can do whatever they want.

Hope you found some peace finally.

[Queenmandy85]

11 hours ago, cannuck said:

Why would I put money in the hands of some else's company??????   ESPECIALLY one that is predatory in its business practice.   What do I tell my shareholders?   "I trust some scumbag bankster with my money, not our company in which you have placed YOUR money???"   I NEVER gamble on something I can't control nor do anything to give credence to illegitimate and unethical business.

I should add: I was trained by the Royal Bank and the knowledge of how they work and what they did gave me the skillset to stop illegal and highly unethical business practices regarding farm foreclosures in the '90s.   We also once owned a risk management business that found extreme corruption at the highest levels of another major Canadian chartered bank.  You have no idea how bad a corporate citizen banks are.

Clearly, your solution is simple. Don't use banks. Get paid in cash and store your money in a box under your bed. I wasn't suggesting you use your shareholders' money to buy shares. Use your own.

Investing in a Canadian bank is one of the safest investments you can make. It is not a gamble. 

What extreme corruption did you uncover in a Canadian Chartered bank? What unethical practices? The bank is a business. Its sole purpose is to make money for its shareholders, just like your company, I'm sure.

My first career after graduating from University, was with Scotia Bank and then CIBC. I have a different picture of the banking industry than you do.

[whittakerturbeville]

The truth is that government authorities care only about their pockets, and till non of them is near pension, they didn't even think about raising the number of pensions, benefits, and tax brackets.

[Aristides]

No one here have a credit card? How often do you use cash? How do you pay your utility and other bills? Do you keep your savings under your mattress? We use banks every day and don't even think about it.

 

Owned Royal Bank shares for years. Up over 1200% plus a nice dividend every year.

Edited January 18, 2022 by Aristides

[Aristides]

I agree with Myata on one point. Government salaries should not be indexed to inflation. They should be indexed to the average wage increase in the country. 

Edited January 19, 2022 by Aristides

[Moonbox]

Even I can agree to that.  Public sector should never be getting long-term wage increases faster than the private sector.  At best they should keep up, but with since they've so wildly outpaced the private sector over the last 25 years in Canada they should actually just not increase at all until the private sector's caught up.  

[whittakerturbeville]

On 1/18/2022 at 7:08 AM, whittakerturbeville said:

The truth is that government authorities care only about their pockets, and till non of them is near pension, they didn't even think about raising the number of pensions, benefits, and tax brackets.

. Inflation is the problem of every country in the world, and if we watch closely, none of the government authorities care about this fact. Taxes, uneven mortgage contract conditions, lockdown, and fear are the main words in the modern world. If someone faced any financial troubles during the pandemic, I suggest you approach the professional Mortgage Advisor Leicester service instead of dealing with this kind of problem by yourself.

Edited January 24, 2022 by whittakerturbeville

[myata]

In the meanwhile, can anyone suggest a free tax software, no strings attached? That's right, in a G7 country, third decade of this 21st century.

[thomashall]

That I can accept. Long-term salary gains for the public sector should never be faster than for the private sector. At most, they should stay up, but given how much they've surpassed the private sector, they should simply stop increasing until the private sector catches up.

[eyeball]

On 7/28/2021 at 8:20 AM, OftenWrong said:

Because shit flows downhill by nature, and we are at the bottom. You get used to it after a while.

Still, moderately corrupt and unjust society is arguably better than striving for ultimate perfection in all things. That is the road we are on, and it amounts to totalitarianism.

I guess we just have different thresholds for totalitarianism. I thought I'd put off freaking out until the day I have to bribe a public official for a driver's licence renewal or extra garbage can tags or something - life's just too short.

[myata]

9 minutes ago, eyeball said:

until the day I have to bribe a public official for a driver's licence renewal or extra garbage can tags or something

That's so terribly outdated. These days some assign themselves salaries (sure, edging on 200K and why not in a country with a median income of thirty something), others getting annual rises through unions. All pretty much regardless of what's happening elsewhere in the economy. Why would you need a bribe?

[cougar]

On 7/26/2021 at 11:44 AM, myata said:

Inflation is a serious problem in the country. Only thanks to ... sorry, because of it MP salary had to be near-doubled.......

Takes you just 15 words on this topic before hitting the all too familiar for you tune:  "MP salaries" , "MP salariiiiies" , "MP salariiiiiiiiiiiiiiiiiiiiies".   

Edited May 26, 2022 by cougar

[cougar]

On 1/19/2022 at 9:10 AM, Aristides said:

They should be indexed to the average wage increase in the country. 

I like the idea, don't get me wrong but those government employees consider themselves to be above-average people, with above-average skills and intellectual powers.

[OftenWrong]

6 hours ago, eyeball said:

I guess we just have different thresholds for totalitarianism. I thought I'd put off freaking out until the day I have to bribe a public official for a driver's licence renewal or extra garbage can tags or something - life's just too short.

You are quoting from almost a year ago. However, upon review I agree with what I wrote there. Especially the first part, which you did not address.

I guess because there are certain, universal truths... perhaps in a way they unite us.

Me, I hate totalitarianism. Pardon me if I say we may be on the road to it. Just cause shit is cool in your little district don’t mean everyone’s is cool. You gotta look at the big picture, where are we heading as a society, nation and world.

You know where, fella. See 1.

Flushhh...

[OftenWrong]

On 8/8/2021 at 11:11 AM, myata said:

As I said already I have no problem with banks.

I see. So you have no problem with the very rotten core that is at the foundation of a civilization... banks.

Banks is where you put the filthy money

You want to know the heart of corruption, see Vatican Bank.

Did you get that one? ... Vatican... Bank. 

As in, hassenfeffer incorporated, do you get that?

Check it out my friend and you will know.

But be ye forewarned

For with great knowledge

also comes great sorrow...

[myata]

7 hours ago, OftenWrong said:

Banks is where you put the filthy money

You want to know the heart of corruption, see Vatican Bank.

We don't own the banks. OK, we can make rules for them and we make rules through supposedly, a system that we do own as citizens that has been happily spinning out of this reality and any controls for the second century on. And we wouldn't care a tiny fleck about it and could give it less of our time and darn sh*t. The face on the right or the one on the left, please choose no, no other choices allowed and attached to nowhere, like a stupid radio spitting out its own random noise. And we keep walking around pretending that yes, makes sense and this is how it works, follow the ritual around and around "vote or your voice wouldn't be heard".

OK, sure. That's a choice, and we make those in life and by the way, evolution. But what the heck would we want to do with the banks?

[eyeball]

On 5/25/2022 at 7:50 PM, OftenWrong said:

You are quoting from almost a year ago. However, upon review I agree with what I wrote there. Especially the first part, which you did not address.

I guess because there are certain, universal truths... perhaps in a way they unite us.

Me, I hate totalitarianism. Pardon me if I say we may be on the road to it. Just cause shit is cool in your little district don’t mean everyone’s is cool. You gotta look at the big picture, where are we heading as a society, nation and world.

You know where, fella. See 1.

Flushhh...

I have been, for decades now. The Big Picture is environmental sustainability and the lack thereof - inflation and totalitarianism are just little consequential details within that. The only universal truth that really matters is that oppressed impoverished people make lousy environmental stewards.

Edited June 3, 2022 by eyeball

[OftenWrong]

10 hours ago, eyeball said:

I have been, for decades now. The Big Picture is environmental sustainability and the lack thereof - inflation and totalitarianism are just little consequential details within that. The only universal truth that really matters is that oppressed impoverished people make lousy environmental stewards.

From what I’ve heard Canada has not made significant progress on issues like the environment, reducing carbon emissions. The government talks a big talk, so far not much walk. Just lots of money changing hands. Same old same old, as we say in these parts.