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

[Legato]

Hey guy's, don't worry about Beave, he gets his info from Herbie, who got it from a sly old fox, who got it from a rabid chicken just before the egg.

[WestCanMan]

3 minutes ago, Legato said:

Hey guy's, don't worry about Beave, he gets his info from Herbie, who got it from a sly old fox, who got it from a rabid chicken just before the egg.

That's BS. Rabid chickens are not that stupid.

[CdnFox]

49 minutes ago, Legato said:

who got it from a sly old fox

How did I get dragged into this?!?

[WestCanMan]

37 minutes ago, CdnFox said:

How did I get dragged into this?!?

Are you a cisgender devil?

If not, then it was for no good reason, and I absolutely, unequivocally and most sincerely apologize for any harm, real or imagined, that may have been caused by my inconsiderate and objectionable behaviour. 

[CdnFox]

1 minute ago, WestCanMan said:

Are you a cisgender devil?

Well ...  i don't think so but if we were to ask americana antifa.... 

1 minute ago, WestCanMan said:

If not, then it was for no good reason, and I absolutely, unequivocally and most sincerely apologize for any harm, real or imagined, that may have been caused by my inconsiderate and objectionable behaviour. 

No foxes were hurt in the making of this thread

[impartialobserver]

Borrowing can help things in the short term. However, given the interest rates and expectations of them going into the future.. the math does not work. short term gains are exceeded by long term costs. 

[CdnFox]

12 minutes ago, impartialobserver said:

Borrowing can help things in the short term. However, given the interest rates and expectations of them going into the future.. the math does not work. short term gains are exceeded by long term costs. 

Well the other issue is 'investments' . He advocates going into expensive debt for 'investing' with the idea you will make more money in the future so it's worth the high interest rates now.

But the thing is investing on credit is always a risky move.  What if that house you built the addition for doesn't sell? Or the market falls? (say - because a stupid gov't caused inflation which forced the bank to increase rates for example )

Or if you go to school but can't complete for some reason, or can't get a job right away if you do. Now you're stuck paying high interest when you can't afford it.

Very few "investments" are guaranteed.  So advocating going into debt for them to make the economy stronger is a very very questionable move.

[ExFlyer]

On 4/12/2023 at 12:21 PM, TreeBeard said:

And PP gave investment advice where, if followed, 80+% of your money would have vanished.  Both are dummies.   People didn’t realize that the choice was between a couple of economically illiterate windbags?   This is why I vote for the best local candidate. 

Yeah, everyone should buy cryptocurrency, base our money on it and, he said we should fire all Bank of Canada...... and the conservatives cheered at how wise PP was. LOL

[impartialobserver]

1 minute ago, CdnFox said:

Well the other issue is 'investments' . He advocates going into expensive debt for 'investing' with the idea you will make more money in the future so it's worth the high interest rates now.

But the thing is investing on credit is always a risky move.  What if that house you built the addition for doesn't sell? Or the market falls? (say - because a stupid gov't caused inflation which forced the bank to increase rates for example )

Or if you go to school but can't complete for some reason, or can't get a job right away if you do. Now you're stuck paying high interest when you can't afford it.

Very few "investments" are guaranteed.  So advocating going into debt for them to make the economy stronger is a very very questionable move.

I do not disagree. I could go into the finite details to back up what you say but why put everybody to sleep? Instead of wanting everyone to borrow and cost themselves dearly in the long term... how about they lessen the tax burden on a consumer even if it is only temporary?

 

[Moonbox]

2 hours ago, BeaverFever said:

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

You're probably the 10th person on this forum to highlight this goof doing that.  He's the ultimate strawman-fighter.  

2 hours ago, BeaverFever said:

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.

I agree, but to be fair, you have to acknowledge how awkward the messaging is.  When "borrowing to invest, rather than consume" is the message, why on earth would you mention credit cards?  It's just another example, IMO, of how out of touch Justin is with the average human.  

2 hours ago, BeaverFever said:

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.

Yes, but when you're a tribal dumb-dumb it's easier to just assume the worst and conflate everything you see to fit your narrative.  

[CdnFox]

6 minutes ago, ExFlyer said:

Yeah, everyone should buy cryptocurrency, base our money on it and, he said we should fire all Bank of Canada...... and the conservatives cheered at how wise PP was. LOL

Have you checked bitcoin's value lately?   The vast majority of people investing would be making a profit, and it's still going up so safe bet anyone else would have too.

That talking point isn't aging well for the left.

[CdnFox]

Just now, Moonbox said:

You're probably the 10th person on this forum to highlight this goof doing that.  He's the ultimate strawman-fighter.  

 

Oh look!  Moonbox is still following me around yapping like a puppy

And didja notice the several people on this thread alone that pointed out he was wrong?

Poor little guy - i know it upsets you when people smarter than you are around and you HATE to see your hero justin in a bad light, but that's no reason to follow me and yap like a scared chihuahua every time  i post 

[ExFlyer]

3 minutes ago, CdnFox said:

Have you checked bitcoin's value lately?   The vast majority of people investing would be making a profit, and it's still going up so safe bet anyone else would have too.

That talking point isn't aging well for the left.

Basing the entire Canadian economy on floating bitcoin value is just economic ignorance.

[CdnFox]

10 minutes ago, impartialobserver said:

I do not disagree. I could go into the finite details to back up what you say but why put everybody to sleep? Instead of wanting everyone to borrow and cost themselves dearly in the long term... how about they lessen the tax burden on a consumer even if it is only temporary?

 

Well if stimulating the economy is what we're shooting for then i agree, you're on the money. So to speak

But - the other question is why do we want the economy stimulated right now? I mean - isn't the bank jacking up interest rates in an effort to SLOW it DOWN to keep inflation in check? The bank just signaled that it's considering doing rate hikes again in the near future if the economy continues to be this active.

Sooo  - wouldn't this be the time to tell people to STOP spending money and to pay DOWN their debt while interest rates are high? Then when the interest rates inevitably cause a recession THATS when people should spend to stimulate the economy again?

Why is he suggesting stimulating the economy now when it's already too  active which will leave us with too much credit debt when it slows down to stimulate it then?

[CdnFox]

1 minute ago, ExFlyer said:

Basing the entire Canadian economy on floating bitcoin value is just economic ignorance.

Well he never suggested any such thing of course. That's like saying if someone advocated having stocks in your retirement portfolio that they wanted "the entire economy" based on the stock market.

At no point did he even hint that the entire economy should be based on bitcoin or crypto's. He said it should be an investment option open to people and we should look at having a regulated 'market' for it in canada to be a major player. Just like we have stock markets.

[impartialobserver]

5 minutes ago, CdnFox said:

Well if stimulating the economy is what we're shooting for then i agree, you're on the money. So to speak

But - the other question is why do we want the economy stimulated right now? I mean - isn't the bank jacking up interest rates in an effort to SLOW it DOWN to keep inflation in check? The bank just signaled that it's considering doing rate hikes again in the near future if the economy continues to be this active.

Sooo  - wouldn't this be the time to tell people to STOP spending money and to pay DOWN their debt while interest rates are high? Then when the interest rates inevitably cause a recession THATS when people should spend to stimulate the economy again?

Why is he suggesting stimulating the economy now when it's already too  active which will leave us with too much credit debt when it slows down to stimulate it then?

interesting questions. I do not know the answer being as I do not know Trudeau all that well. I would agree that you would want less debt not more. Obviously one can go too far.. Japan being the best example. My initial inclination is that this is a politician wanting to do something just to do something. I see it all of the time. They get bored and can't have weeks/months going by without their name in the news.. people forget about you. 

[CdnFox]

1 minute ago, impartialobserver said:

interesting questions. I do not know the answer being as I do not know Trudeau all that well. I would agree that you would want less debt not more. Obviously one can go too far.. Japan being the best example.

Sure - messing with the economy requires a scalpel not a sledgehammer. It's a game for serious pro's only when it comes to implementation and detailed specifics.

1 minute ago, impartialobserver said:

My initial inclination is that this is a politician wanting to do something just to do something. I see it all of the time. They get bored and can't have weeks/months going by without their name in the news.. people forget about you. 

Probably more true than not.

[BeaverFever]

18 hours ago, Moonbox said:

I agree, but to be fair, you have to acknowledge how awkward the messaging is.  When "borrowing to invest, rather than consume" is the message, why on earth would you mention credit cards?  It's just another example, IMO, of how out of touch Justin is with the average human

Yes 100%, Justin is little more than an actor and spokesperson, he doesn’t do so well when he improvises or goes off-script  

 

 

[BeaverFever]

21 hours ago, WestCanMan said:

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. 

Thank you for providing another example of your inability to think critically and how you’re so easily manipulated by your human caterpillar.  The video clearly does NOT say what your caterpillar tells you it says 

If you had finished high school you’d know that nobody pays for university or buys a house with a credit card, dimwit. So that would be your first clue that he’s speaking metaphorically. Also he clearly does NOT say “this is what I want you to do” 

So right away it is a lie for this thread tot claim that Justin Trudeau advises people to borrow on their credit cards to help stimulate the economy

 

So now you agree with his general point that it’s responsible to borrow to invest in enterprises that create value…. but you’re upset and outraged that in his example he didn’t name a borrowing instrument with a lower interest rate?

Edited April 15, 2023 by BeaverFever

[BeaverFever]

21 hours ago, CdnFox said:

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.

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.

Strong economies do invest in themselves. You think those roads and schools and hospitals and universities just spring out of the ground like mushrooms?

 

He is clearly speaking to young people and using “credit card” as shorthand to describe borrowing and education amd home improvement as an example of responsible investment. 
 

What you righttards are claiming doesn’t make sense, why agenda would he be pushing tellling  youth to use credit cards as opposed to other form of payment or borrowing and why would he tell them to spend it on education and home improvement but not on things like TVs?  This is that distortion you guys love to do where you cherry pick tiny snippets of words taken out of context,  apply strict literal interpretations them you sh-t your ideas into the mouth of the next cultist in line who distorts it even further before sh-tting into the mouth of the next guy. 

Edited April 15, 2023 by BeaverFever

[Dougie93]

On 4/13/2023 at 7:28 PM, 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.

the weird part is telling people to put it on their credit card

when a homeowner could get a low interest line of credit based off the equity in the home

then he tells people to put their college tuition on a credit card ?

he really does live in his own little rich boy world, he has no idea how things actually work 

[CdnFox]

3 hours ago, BeaverFever said:

 

 

He is clearly speaking to young people and using “credit card” as shorthand to describe borrowing and education amd home improvement as an example of responsible investment. 
 

It's pretty clear he's not. This is just how he thinks of things. You can make all the excuses for him you like but at the end of the day he was very clear about what he said - and it wasn't your twist on it.

[Dougie93]

23 hours ago, impartialobserver said:

Borrowing can help things in the short term. However, given the interest rates and expectations of them going into the future.. the math does not work. short term gains are exceeded by long term costs. 

the same applies to government

but at this point, Canada is not even borrowing

at this point, they are just printing new dollars to pay for the Liberals vote buying largess

but this is actually crushing young people

inflation of the money supply is driving the prices of food, energy & shelter through the roof

like people are paying $2500 to $3000 just to rent a semi detached

that is like paying the amortization on an $800,000 mortgage

homeowners don't even have it bad right now, the prime rate is 6.7%

which is a steal compared to the 1980's when homeowners were paying 18% to 22%

it's the young renters who are seeing the steep increases, rent is driving them to the brink of homelessness

I know thirty something people with kids who are literally afraid that they could end up in a tent city

[WestCanMan]

12 hours ago, BeaverFever said:

Thank you for providing another example of your inability to think critically and how you’re so easily manipulated by your human caterpillar.  The video clearly does NOT say what your caterpillar tells you it says 

If you had finished high school you’d know that nobody pays for university or buys a house with a credit card, dimwit. So that would be your first clue that he’s speaking metaphorically. Also he clearly does NOT say “this is what I want you to do” 

So right away it is a lie for this thread tot claim that Justin Trudeau advises people to borrow on their credit cards to help stimulate the economy

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.

Quote

So now you agree with his general point that it’s responsible to borrow to invest in enterprises that create value…. but you’re upset and outraged that in his example he didn’t name a borrowing instrument with a lower interest rate?

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. 

Edited April 16, 2023 by WestCanMan

[BeaverFever]

3 hours ago, CdnFox said:

It's pretty clear he's not. This is just how he thinks of things. You can make all the excuses for him you like but at the end of the day he was very clear about what he said - and it wasn't your twist on it.

No its not clear or even plausible at all. It’s clear that you hate Trudeau and will seize any flimsy excuse fed to you by the caterpillar to attack him.

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. But once again the conservative hysteria machine is in “exaggerate and overreact” mode, which is basically their default setting.