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

[CdnFox]

27 minutes ago, BeaverFever said:

No its not clear

It is crystal clear. His language is consistent from beginning to end. You have to WANT it to mean something different for it not to be clear.

I get it - you like the guy and you don't like to see him saying stupid things. But unfortunately that's something he does now and again and this is an example.

Quote

Since his political debut years ago I’ve clearly understood that JT is a bitnof a “mimbo” and a little more than a spokesmodel who often says things poorly when he improvises, and it’s always been obvious that he is not a serious deep thinker.

and that's about where you should have stopped.

There's no exaggeration here. This is just how he thinks.

[herbie]

Pretty clear Trudeau states using a credit card to make an investment that returns a profit is economically beneficial compared to using it to simply obtain desirable goods.

But falling on ears that use it at the liquor store when they can only make the minimum payments and are so blinded with Trudeau hate they can't read or hear what he says and insist he said something else is so normal half the threads on this site wouldn't be here.

I buy computer parts with my credit card online and charge $50-$100 plus that cost to install them. I used a card to buy some of the parts in a home improvement project, and now my house is worth triple what it was previously assessed.
When I buy a huge TV at Costco, I use my credit card.
But even as a retiree with only 1/2 a company pension, I already have the money saved to pay the card off in full the minute it's due. So I'm profiting in cash, added value or reward points. That's what he was talking about! Using credit cards as a tool instead of a convenience.

[CdnFox]

9 minutes ago, herbie said:

Pretty clear Trudeau states using a credit card to make an investment that returns a profit is economically beneficial compared to using it to simply obtain desirable goods.

Neither are preferable. When you 'borrow" at high interest for an "investment" - you risk the investment not paying off.  It is  a BAD idea to put home renovations on a credit card and HOPE that the home sells for more money.

Imagine you did that and some underwear-streak of a prime minister drove inflation up and interest rates with it and your home was suddenly worth less before you could finish the renos and sell it. Then what? YOu're still stuck with the high interest rate loan on the credit card.

9 minutes ago, herbie said:

 

I buy computer parts with my credit card online and charge $50-$100 plus that cost to install them. I used a card to buy some of the parts in a home improvement project, and now my house is worth triple what it was previously assessed.

Sounds like you're a pretty serious liar.  There is no renovation you could do to a home in this market to triple it's value, never mind one that would fit on a credit card. and no sane person would put it on a credit card, they'd take out a loan. So - bullshit. You're a liar.

As to buying parts to sell that's not an investment that's just work. The parts don't increase in value, you just add value by charging for your time. Not the same thing at all.

 

9 minutes ago, herbie said:

When I buy a huge TV at Costco, I use my credit card.

He told you not to do that

9 minutes ago, herbie said:

But even as a retiree with only 1/2 a company pension, I already have the money saved to pay the card off in full the minute it's due. So I'm profiting in cash, added value or reward points. That's what he was talking about! Using credit cards as a tool instead of a convenience.

That is easily the stupidest comment on the internet  And as you can imagine, it was up against some pretty stiff competition.

[Nefarious Banana]

Stephen Harper . . . Bachelor's Degree in Economics (1985) . . .  Master's Degree in Economics (1991)

Justin Trudeau . . . Bachelor's Degree in Arts (Literature 1994) . . . Bachelors' Degree in Education (1998)

Who of the above would most likely know how Canada's largest company, which is Canada itself, operates to the advantage of its shareholder citizens?

[CdnFox]

3 minutes ago, Nefarious Banana said:

Stephen Harper . . . Bachelor's Degree in Economics (1985) . . .  Master's Degree in Economics (1991)

Justin Trudeau . . . Bachelor's Degree in Arts (Literature 1994) . . . Bachelors' Degree in Education (1998)

Who of the above would most likely know how Canada's largest company, which is Canada itself, operates to the advantage of its shareholder citizens?

well you'd THINK with his background Justin would at least be able to ACT like he does.....

[WestCanMan]

3 hours ago, herbie said:

I used a card to buy some of the parts in a home improvement project, and now my house is worth triple what it was previously assessed.

This is absolute BS.

You can't renovate a home and triple it's worth, partly because of the fact that the majority of your home's value is in the land. 

If your home tripled in value that can only be because of time. And not just a month, or a year, it takes 15 years at the very minimum for a property's value to triple.

You clearly have no idea about home prices. You don't own a home. Not a chance. 

[BeaverFever]

9 hours ago, WestCanMan said:

Clearly you have never had a credit card with more than a $5k limit, dimwit.

Clearly you have no clue wtf you're talking about if you think that someone talked about buying a house with a credit card, dimwit. 

Justin Trudeau literally talked about how spending money on things like education and home renovations would help the economy, dimwit.

FYI "an education" doesn't necessarily mean going to Yale to become a proctologist. There are a lot of courses that people can take for less that $100K, dimwit.

Not always. Timing is everything.

In 2006 you could have bought up a house and just laid on the couch for two years and made a ton of money. 

If you bought in '08 you could have spent $100K on renos and ended up selling for $100K less than you bought it for. 

Who the hell is gonna max out their credit with that goof in the PMO? No one knows when their job is gonna be on the line if they don't jump through one of his hoops, or when their bank accounts might be frozen. 

Uncertainty and high interest rates are the two main enemies of borrowing and investing in the economy in general. 

Trudeau's crony friends can invest all they want, they know they're gonna get some juicy contracts, everyone else is sitting this year out. 

Trudeau was not telling anyone to borrow. He was explaining as a general principle, the benefit of borrowing to create value compared to borrowing that doesn’t create value

 

Heres another secrets for you: Prime Ministers don’t control the economy. You’re a fool if you think things would be any different under a conservative government 

[BeaverFever]

5 hours ago, Nefarious Banana said:

Stephen Harper . . . Bachelor's Degree in Economics (1985) . . .  Master's Degree in Economics (1991)

Justin Trudeau . . . Bachelor's Degree in Arts (Literature 1994) . . . Bachelors' Degree in Education (1998)

Who of the above would most likely know how Canada's largest company, which is Canada itself, operates to the advantage of its shareholder citizens?

Neither would “know” because the response to the question you pose is a matter of opinion, not fact

Don’t forget political ideology and party politics play a larger role than educational background  

Besides Prime Ministers don’t control the economy 

[CdnFox]

52 minutes ago, BeaverFever said:

Trudeau was not telling anyone to borrow.

He literally told people they should borrow to invest and that's how you build a strong economy.  It's literally what he said.

[herbie]

6 hours ago, CdnFox said:

Imagine you did that and some underwear-streak of a prime minister drove inflation up

I wouldn't worry about that because I'm not stupid enough to think the Prime Minister causes inflation.

6 hours ago, CdnFox said:

That is easily the stupidest comment on the internet 

No, your entire reply was. Karl Marx understood profit better than you do.

2 hours ago, WestCanMan said:

You can't renovate a home and triple it's worth, partly because of the fact that the majority of your home's value is in the land. 

Another ignoroid speaks. The land value only increased by 20%. Do you even know anyone who does renos outside of Toronto/Vancouver Metro? Obviously not, they wouldn't bother on mere 100K profits. Typical view of defenders of someone elses right to make a profit as they're incapable - or have Canadian disease: where Americans will spend a dollar to make an extra penny, they won't spend a penny unless they make a dollar - and te gov't gives them the penny!

[herbie]

9 minutes ago, CdnFox said:

It's literally what he said.

No it's what you literally wished him to say.

[CdnFox]

2 minutes ago, herbie said:

I wouldn't worry about that because I'm not stupid enough to think the Prime Minister causes inflation.

Ohhh i'm quite certain you're stupid enough to believe anything.

2 minutes ago, herbie said:

No, your entire reply was. Karl Marx understood profit better than you do.

Wow - so "i know you are but what am i" was the BEST retort you could come up with? Man - not afraid to show off that stunning intellect of yours are you

2 minutes ago, herbie said:

Another ignoroid speaks. The land value only increased by 20%.

Dude you were lying It's PAINFULLY Obvious  

Nobody thinks you did renos on your credit card and tripled the value of your home.  Literally everyone reading that is going to know you're a liar

2 minutes ago, herbie said:

Do you even know anyone who does renos outside of Toronto/Vancouver Metro?

Yep - i hire them literally every day. (well... every week day).  But i don't think anyone has to be an expert to realize you can't triple the value of a home with a renovation you put on your credit card.

If you're going to lie - pick more convincing ones.

[WestCanMan]

13 hours ago, BeaverFever said:

Trudeau was not telling anyone to borrow. He was explaining as a general principle, the benefit of borrowing to create value compared to borrowing that doesn’t create value

Trudeau was saying that if people use the credit available on their cards it will help grease the wheels of the economy.

He directly talked about people spending that money and tied it to a successful, vibrant economy.

No one who cared about people would tell them that it's their patriotic duty to accumulate credit card debt. It's outrageous and embarrassing. 

Quote

Heres another secrets for you: Prime Ministers don’t control the economy. You’re a fool if you think things would be any different under a conservative government 

Here's the plain truth: Trudeau is a slimy, smarmy, fascist weasel who has done irreparable damage to our nation's character. You're a fool if you think that any PM of the last 30 years was as incompetent and crooked as that worthless POS. 

[WestCanMan]

13 hours ago, herbie said:

Another ignoroid speaks. The land value only increased by 20%. Do you even know anyone who does renos outside of Toronto/Vancouver Metro? Obviously not, they wouldn't bother on mere 100K profits. Typical view of defenders of someone elses right to make a profit as they're incapable - or have Canadian disease: where Americans will spend a dollar to make an extra penny, they won't spend a penny unless they make a dollar - and te gov't gives them the penny!

Thanks for replying dude, because I don't think that I spoke plainly enough last time.

FACT: No one in Canada renovated a home and tripled its worth, EVER. 

Removing a wall, changing the flooring, putting in some new appliances and plumbing fixtures cannot possibly double the price of your home let alone triple it. New paint and plumbing fixtures don't compare to the value of the land, at all. 

Go on REW and find any home you want in BC, then google bcassessments to see the tax assessment. It's not protected info, anyone with the internet can do it. It will tell you the BC gov't's estimation of the land value and the value of the improvements (home, outbuildings, etc). 

Attached are the MLS data sheet and tax assessment of a modern home that's only 1 year old. It's assessed at 1.8M total, 1.1M for the land and 700k for the home. A brand new home with a 2-5-10 warranty...

You can plainly see that despite the fact that the home is brand new, it is only worth 60% of what the land is worth. 

So, if you had a run-down home that was worth $0, and increased it's value to be equal to that of a brand new home just by renovating it (which is completely impossible), you would have only increased the value of your property by 60%.

Taking a home worth zero dollars and making it worth 700,000 would cost you hundreds of thousands of dollars. No one would even do that. You'd just tear down the one that's there and do a new build.

And even if you did a new build you couldn't put a home that's worth $3M on that $1M lot. Zoning bylaws cap the lot coverage and usually even the sq footage of the home you can build on it, so you couldn't build a 15,000 sq ft home on that lot.

You never owned a home or you'd know that it's impossible to "TRIPLE ITS VALUE" by renovating it. You are a complete fraud. 

(nvm the fact that the assessed value is less than the asking price. That is fairly normal. 1) that's just an asking price and 2) if the value is up by that much then the value of the land is up proportionally)

Edited April 16, 2023 by WestCanMan

[herbie]

No dummies, I said some of the purchases I spent on renos was on my credit card. I didn't tell you how much I spent on renos or where the market is where you can do that.  Or that I used it in conjunction with a line of credit, which you all seem oblivious about. Obviously you're not gonna drop 50-100K on a 29% credit card cuz you can't even if you wanted too.

I was however entirely correct that you're completely unaware of the other 9.9 million sq kms that make up this country.....

You're also so blindly hateful of Trudeau you ignore the 29% interest the credit companies are ripping you off for or incorrectly blame the ripoff as his fault. And the usual dimwit comments about Trudeau being a leftist and fascist in the same breath shows the rest of us your opinion is worthless.

[CdnFox]

45 minutes ago, herbie said:

No dummies, I said some of the purchases I spent on renos was on my credit card.

Nobody is believing your shit in the slightest. It's painfully obvious you lied.

[Legato]

3 hours ago, herbie said:

No dummies, I said some of the purchases I spent on renos was on my credit card. I didn't tell you how much I spent on renos or where the market is where you can do that.  Or that I used it in conjunction with a line of credit, which you all seem oblivious about. Obviously you're not gonna drop 50-100K on a 29% credit card cuz you can't even if you wanted too.

I was however entirely correct that you're completely unaware of the other 9.9 million sq kms that make up this country.....

You're also so blindly hateful of Trudeau you ignore the 29% interest the credit companies are ripping you off for or incorrectly blame the ripoff as his fault. And the usual dimwit comments about Trudeau being a leftist and fascist in the same breath shows the rest of us your opinion is worthless.

How does it feel when you put on your shoes backward?

[WestCanMan]

4 hours ago, herbie said:

No dummies, I said some of the purchases I spent on renos was on my credit card. I didn't tell you how much I spent on renos or where the market is where you can do that.  Or that I used it in conjunction with a line of credit, which you all seem oblivious about. Obviously you're not gonna drop 50-100K on a 29% credit card cuz you can't even if you wanted too.

I was however entirely correct that you're completely unaware of the other 9.9 million sq kms that make up this country.....

You're also so blindly hateful of Trudeau you ignore the 29% interest the credit companies are ripping you off for or incorrectly blame the ripoff as his fault. And the usual dimwit comments about Trudeau being a leftist and fascist in the same breath shows the rest of us your opinion is worthless.

You did not triple the value of a home just by renovating it. No one did. Ever.

The fact that you say that you did that proves without a doubt that you do not own a home. I doubt that you were even raised in a home that your parents owned.

Not that it's a crime or anything to grow up in a rented home, but you were definitely lying when you said that you tripled the value of your home.  

[herbie]

Right you small thinking pinheads, if I'd reno'd the cabin for the same amount it would've only increased in value 50%. It was in a different area of the province and would've been a tiny level of profit compared to here. So I went by the ROI. And sold the cabin at current market for only triple what it cost me to buy, build and maintain for 40 years.

I not only own a home mortgage free, I could buy and do the same with the one next door tomorrow. Or just buy it and not reno it and rent it out for double the mortgage cost.

Oh but it gets cold here and I can't get sushi thru DoorDash or go see Mick Jagger waddle about in Depends... No ppl I'm not lying, you're stuck in your tiny closed mindset. Don't even realize that "the economy" is money changing hands, regardless of where it came from.

 

[Nefarious Banana]

7 minutes ago, herbie said:

Right you small thinking pinheads, if I'd reno'd the cabin for the same amount it would've only increased in value 50%. It was in a different area of the province and would've been a tiny level of profit compared to here. So I went by the ROI. And sold the cabin at current market for only triple what it cost me to buy, build and maintain for 40 years.

I not only own a home mortgage free, I could buy and do the same with the one next door tomorrow. Or just buy it and not reno it and rent it out for double the mortgage cost.

Oh but it gets cold here and I can't get sushi thru DoorDash or go see Mick Jagger waddle about in Depends... No ppl I'm not lying, you're stuck in your tiny closed mindset. Don't even realize that "the economy" is money changing hands, regardless of where it came from.

 

Ahhhh  herbie . . . . . . did you finance your 'Anger Management' and your 'Equivocation Disorder' classes with your credit card?

[CdnFox]

1 hour ago, herbie said:

Right you small thinking pinheads, if I'd reno'd the cabin for the same amount it would've only increased in value 50%. It was in a different area of the province and would've been a tiny level of profit compared to here. So I went by the ROI. And sold the cabin at current market for only triple what it cost me to buy, build and maintain for 40 years.

 

So the renos did NOT increase your home's value the way you said it did. What increased your home's value was appreciation over time. If you had done NO renos it would still have apprecaited.

SO you lied. Period.

Yeah. We knew that. thanks for confirming? I guess? but - honestly we already were well aware you were full of it.

[herbie]

3 hours ago, CdnFox said:

So the renos did NOT increase your home's value the way you said it did. What increased your home's value was appreciation over time. If you had done NO renos it would still have apprecaited.

You can't read or listen, can you? The value went up immediately. The renos cost more than the land & property did. If you bought the right place for $1 million in Vancouver and did $2 million in renos you'd easily have a $3 million property. If you bought a $50K house in the boonies and spent $75K upgrading you could easily have a $150K house. That's triple.*
If you live in the house while you do it, the cost of mortgage & borrowing doesn't even count as you would've needed to piddle it away as rent regardless.

I've known half a dozen ppl do that over the years. Don't even have to declare it as income when you sell, just live in it for one year. Just what is it you don't get?

*unless you fall for gov't style accounting and think the hot dogs that were $3 last summer and $9 this summer means the price only inflated 10%

[CdnFox]

1 hour ago, herbie said:

You can't read or listen, can you? The value went up immediately.

Your.... renos.... did..not...triple.... the... value....of.... your.... home.  So you lied.

And no - you can't do 2 million dollars in 'renos', that's a tear down and rebuild.

You not only lied which is bad enough you're doubling and tripling down on it in spite of the fact EVERYONE has already pointed out you're full of crap.

And i love that you think you can put 2 million dollars of "renovations" on your credit card.

You're totally busted kid - you should probably stop making it worse.

[herbie]

You are as stupidly stubborn as reason10 if you insist an end value of $3M is not triple the original value of $1M. And more so after being told I did not put the entire cost on a credit card several times.

Excuse yourself for being thick as a brick. Like a colour blind kid calling everyone else liars for saying the Christmas tree is green.

[CdnFox]

12 hours ago, herbie said:

You are as stupidly stubborn as reason10 if you insist an end value of $3M is not triple the original value of $1M. And more so after being told I did not put the entire cost on a credit card several times.

Excuse yourself for being thick as a brick. Like a colour blind kid calling everyone else liars for saying the Christmas tree is green.

You... lied.... period.

Very obviously. Your claim is that you put renovations on your credit card and those renovations tripled the value of the home.

That is a blatant lie. It's that simple.

Which is fine, everyone would have been happy to write it off as a little internet bluster that got out of hand and was obviously not true but you double, triple quadruple down on it.

You lied. You're a dishonest person in the extreme and you're defending your dishonesty.

Can't take that back kiddo.