Spending > out of control <
June 14th 2025
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Most of my Canadian friends are totally oblivious of our country's finances. Many of our younger generation have no idea as to their own financial situation, let alone their country. Canada is awash with debt, and not much wonder. For the past few years, Canadians have been living with plastic that has been abused. Plastic straws are the least of our problems. I’m talking about that stack of credit cards that we carry instead of cash. I come from a time when there were no credit cards and if you did not have cash, you went without until you did have it either in your pocket or under your mattress or in the bank. You were able to write a cheque when you could prove you had good credit.
When as a young man entering the work force at 17 years old, I had to go through a rigorous period to prove I was responsible enough to have the privilege of owning a credit card. To-day, they are a dime a dozen and the banks and financial institutions will give anyone a card as it is a huge profit machine that can encumber you for life with exorbitant interest rates. Most of us are not aware that when applying for a card, you should ask for the card that charges the lowest interest rate. You will automatically get the highest rate card if you don’t ask. It is not unusual for a single person to be indebted to the system for tens of thousands of dollars at a rate of 22% and higher. The only way some can get out of this hole is to go bankrupt or lean on a sugar daddy. One way out of this dilemma would be to have your parents or grandparents with excellent credit ratings, make a deal for them to borrow at a much lower rate and have you pay off your debt at the lower interest rate. This is a special arrangement that can be made with willing adults that understand the saving that can be had.
Our governments unfortunately only have their people to fall back on when they overspend and get into financial difficulty. Our government has put us in financial chaos and Canada has been grossly mismanaged, now we must pay the piper as it were. In 2014 Canada’s debt was 38.4% of our GNP. In 2024, ten years later, it has risen to 85.5% of our GNP. Carney as Trudeau’s financial advisor had our government sell all our gold reserves many years ago. This leaves Canada as one of the only countries in the world without gold reserves to support our currency.
One way we can overcome this burden is to curtail our spending. The problem is that the person that got us here is the one in charge, thanks to all the misdirected Canadians that voted for him. Mark Carney must be put out to pasture before he completely bankrupts us. We need a serious leader that will have a mandate from the people to do some heavy lifting in the pursuit of Canada’s complete financial security.
I am amused and saddened we constantly hear from left-wing Liberal bleeding hearts that Poilievre is such a terrible candidate for Prime Minister because he is always harping on Canada’s problems and our financial exposure. Our society needs to face realities and get busy trying to save our country. Carney has finally reached the pinnacle of what is known as the “Peter Principal”. He has reached the place where it is obvious, he has come to the end where he is stripped naked and is exposed as to who he is. When we realize our folly, is one thing, now what do we do to correct it? Will it take an insurrection or can we do it the Canadian way and ask politely for Carney’s resignation.
Ha – Ha. These people do not usually go away without a fight. Time will tell.
This should be the end of our discussion on debt and government overspending and over taxing, however more info that will challenge you to not get out of your chair and scream for justice.
Canada’s debt is One point 4 trillion $. The interest we the tax payers are doling out every month is One Billion$.
In 9 years, Trudeau increased our debt by two times the total debt we accumulated and ever had since confederation. It makes no sense at all that we should accept any more Liberal crap. Why do you think we are not seeing a budget for months into the future? Carney can’t take a chance that Canadians know how corrupt these Pigs are.
Paul D. Scott rantingsandraves.com & Substack
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