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Justin Trudeau advises people to borrow on their credit cards to help stimulate the economy.


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Well regardless of it's history, telling people to borrow to do renovations on their house at 20 - 30 percent interest is beyond insane.

And let me point out what he's REALLY getting at there -  "I know many of you got caught in the interest rate hike and can't sell your home for what you owe the bank. If you spend money fixing it up then you can sell for more, and the extra will be on your credit card which you can pay off over time".

He's telling people who got screwed by his bad monetary policy that they can go into credit card debt instead of mortgage debt if they have to. Yeash.

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Just now, Contrarian said:

Indeed, the documentary delves into the risks of borrowing money and the consequences that follow if one relies too heavily on credit. This seems to be the central point of your thread.

Well it's certainly A point - but the main point was more that we have a prime minister that's recommending it to people as a good choice.

He made fun of PP for investing in bitcoin - which has climbed back up again recently  - and instead recommends they invest in credit card debt as a better choice :)   Why lose all your money when you can lose all your FUTURE money too!!!

 

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2 minutes ago, Contrarian said:

--> Yes, one. 

One possibility that comes to mind is that he may be relying on a different type of sugar (credit card) as a means of alleviating political pressure. And if things go wrong, long term, and the Conservatives come into power, he can simply shift the blame onto someone else. ?

Well i think you're on the right page sort of.

People can't pay their bills or get out of bad situations right now. And they don't have money.

Politically thats a problem. So he's saying if you pay for school with a credit card so you can get a job that's ok. The problem is that it's not ok but he's making people feel like maybe it's a valid way out of their situation. that the gov't helped put them into.

He also is worried about recession. He wants more spending to avoid it. But what he doesn't get is that this just fuels inflation and then the interest rates go up and things get far worse.

It's just a terrible thing to recommend.

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1 hour ago, Nefarious Banana said:

On a lighter note . . . . Perhaps the 'Dipsy-Doodle Dipshit' owns a credit company and will issue credit cards to his loyal enablers and followers ?

 

Ahhh yes - the justinbucks premium platinum :)  Where "Your money is OUR money".

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8 minutes ago, TreeBeard said:

And PP gave investment advice where, if followed, 80+% of your money would have vanished.

Nope. Check bitcoin lately? Anyone who bought before 2021 still has a profit and it's going up at a good  pace.

Soooo yeah - actually not bad advice. People who bought at the peak may have another year to wait but it's heading that way.

Stocks and bitcoin, which are about the same thing risk wise for the most part, are one thing, .But a credit card is a guaranteed loss.

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36 minutes ago, Nefarious Banana said:

For you urban folks, there's an applicable bit of old wisdom:  Everyone who lives alone in the bush is crazy . . . it's just a matter of degree.

That's not true! I'M Not crazy!!! You want to know who's crazy?!? That damn squirrel is Crazy - every goddamn morning it's yeety yeety yeety and i'm like yelling at him to SHHHHuUUUTT UPPppPPPP  and i grab the shot gun and..

OH .... Oh. Yes,  I see your point now. Carry on.

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4 minutes ago, CdnFox said:

That's not true! I'M Not crazy!!! You want to know who's crazy?!? That damn squirrel is Crazy - every goddamn morning it's yeety yeety yeety and i'm like yelling at him to SHHHHuUUUTT UPPppPPPP  and i grab the shot gun and..

OH .... Oh. Yes,  I see your point now. Carry on.

Ever heard of the 'Squirrel Whisperer' . . . ?  

I like to converse with the trees, although they get real quiet when firewood goes into the stove.

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Just now, Nefarious Banana said:

I like to converse with the trees, although they get real quiet when firewood goes into the stove.

Speaking of which, is it just me or is cutting down a tree with a wood handled axe kind of a dick move?  "Oh did you know this guy? AAAAHAHAHAHAA whack whack whack! "  It'd be like dismembering someone with  a knife made with their cousin's femur or something.

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12 minutes ago, CdnFox said:

Speaking of which, is it just me or is cutting down a tree with a wood handled axe kind of a dick move?  "Oh did you know this guy? AAAAHAHAHAHAA whack whack whack! "  It'd be like dismembering someone with  a knife made with their cousin's femur or something.

A member of the 'Moose Lodge' enjoying a nice moose roast . . . cannibal ?

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It's weird that he's telling people to fix up their home so that they can sell it for more right after his rising interest rates tanked real estate prices lol.

For those of you who are watching for interest rate, June 7 and July 12 are the next two scheduled dates to look out for: https://www.bankofcanada.ca/2022/07/2023-schedule-interest-rate-announcements/

Good news: 2024 is an election year in the US, and traditionally rates go down when that happens, but tbh we have way bigger things to worry about in that span of time, like nuclear war and a new war in Asia. 

 

FWIW, Trudeau's actually putting himself at risk there because he's giving unsolicited and very meaningful/risky advice to a whole room full of people who could easily make the case that he's a person they believed they could rely on. If someone maxes out a $100K card based on his advice, so that they can get some renos done by summer or fall, there could easily be 2 more interest rate hikes from the BoC by the time the renos are done, dropping the market. It's quite possible that even after $100K in renos, the value of their home will be lower than it is now. If that's the case, Trudeau will have sewered them, bigtime. 

He's not protected by parliamentary privilege when he's babbling in a HS gymnasium. I hope he gets taken to the cleaners. 

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20 minutes ago, WestCanMan said:

It's weird that he's telling people to fix up their home so that they can sell it for more right after his rising interest rates tanked real estate prices lol.

It is - but what's REALLY weird is he's telling people to borrow on their credit cards to fix their homes... meanwhile sussex STILL hasn't been fixed since he got the job and it's STILL unlivable :)

Hey justin - give me your credit card number, we'll get the place fixed up for ya :)

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On 4/12/2023 at 10:08 AM, CdnFox said:

I mean - first off it explains how he added nearly a trillion dollars in new debt - but ffs.

So your post is basically a retweet of some random guy retweeting another random guy, all you mindlessly and uncritically parroting what you’ve been told through the social “grapevine” . When will people learn that social media is just gossip in the digital age.  
 

It’s clear he’s not telling people to go out and “borrow on their credit cards to stimulate the economy”. He’s explaining the difference between spending and investing, specifically to explain why the government is running a deficit in order to invest in the economy. 
 

There’s something about today’s conservatives where they prefer to trust information from ”gossip” and “grapevine” sources rather than actual credible sources. I think it’s because these days they decide whether or not to believe what they hear based on whether or not they personally like the person telling it to them, instead of trying to independently assess the information itself   

Edited by BeaverFever
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40 minutes ago, BeaverFever said:

So your post is basically a retweet of some random guy retweeting another random guy,

You're calling Justin Trudeau a random guy?

40 minutes ago, BeaverFever said:

It’s clear he’s not telling people to go out and “borrow on their credit cards to stimulate the economy”. He’s explaining the difference between spending and investing, specifically to explain why the government is running a deficit in order to invest in the economy. 

Soooo - in your opinion he's not telling people to borrow to spend money to stimulate the economy, he's explaining why the gov't borrowed to spend money to stimulate the economy. And suggesting that this is something that would be wise for them to do in similar circumstances because it makes sense. 

In other words he's telling them that it's a good idea to put home renovations on their credit card. Which is exactly what was said.

There's something about today's liberals that they can't just admit a simple truth without lying and exercising in bizarre rhetorical gymnastics first.

He's telling people it's a good idea to put money on their credit card to go to school or to improve their home... which is absolutely not true. The current interest rates are insane.

Of course - as a liberal you may not be able to comprehend the idea that borrowing at excessively high interest is bad.

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12 hours ago, CdnFox said:

You're calling Justin Trudeau a random guy?

No. Look at your post you quoted a random guy who quoted another random guy who was talking about Trudeau. That makes you the third in line in the conservative human caterpillar digesting and passing on that brief Trudeau clip.  Humam caterpillar, that’s an excellent metaphor you guys are going to hear that more often. 
 

12 hours ago, CdnFox said:

Soooo - in your opinion he's not telling people to borrow to spend money to stimulate the economy, he's explaining why the gov't borrowed to spend money to stimulate the economy. And suggesting that this is something that would be wise for them to do in similar circumstances because it makes sense. 

No you completely made up the last part, which I put in bold. Or I should say the head of your human caterpillar did.
 

The credit card was an example to illustrate that the government borrows money to invest in the economy in the same way someone might borrow money to invest in something that creates value such as a home or an education. He specifically says borrowing money to buy something like a TV is bad, which totally contradicts what your human caterpillar falsely claims he is saying. Nowhere does he tell people to borrow money to stimulate the economy.
 

 Dont your own burning hatred of the man short circuit your critical thinking skills and turn you into another far right mindless goon

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2 minutes ago, BeaverFever said:

No. Look at your post you quoted a random guy who quoted another random guy who was talking about Trudeau.

It's a retweet of a video about justin, which is right there for you to watch.

I had to look up human caterpillar. It's not something i'm into.

3 minutes ago, BeaverFever said:

No you completely made up the last part,

You are kind of a sick dude aren't you.

Nonsense, He says very specifically - "if you use your credit card to go to school or to put an addition on your house.. THAT is how you grow a strong economy".

He goes on to say - and this is hilarious -  "Because frankly, strong economies invest in themselves".  :)  I guess just like budgets balance themselves :)

He's very very specifically saying if you USE YOUR CREDIT CARD to go to school or build an addition on your home in the hopes of making more money someday - that is a great thing because it builds our strong economy. That's how you do it.

the credit card isn't an example. It's litearally what he said.  If you borrow to 'invest' using your credit card, THAT is how you build a strong economy.  Those are his words.

So the rest is just you lying to try to defend him again. Which is pathetic.

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19 minutes ago, BeaverFever said:

No. Look at your post you quoted a random guy who quoted another random guy who was talking about Trudeau. That makes you the third in line in the conservative human caterpillar digesting and passing on that brief Trudeau clip.  

You see that there's a video clip, right?

No one has to guess what Trudeau said, or rely on someone else's 2nd hand account of it, all you have to do is click play and turn up your volume.

He's saying that if you use that credit card to invest in your education or renovate your house for resale then you're investing while you're also boosting the economy. 

What makes you think that racking up credit card debt is a sound strategy for you, personally? Why not get a loan instead, and pay 1/4 the interest? What makes you think that having a country full of people with maxed credit cards is good for the economy? 

It's patently stupid, and the fact that you heard if from a guy who told another guy isn't a big deal at all.

It's a big deal that if Trump said it the MSM would flay him alive but when Trudeau says it you hear crickets from the media... you have to hear from a guy who told another guy. 

Edited by WestCanMan
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