Canadian Federal Election

[Build.It]

Originally Posted by LuluBobo

Trump is against classical liberal (free markets, private property, equality, anti-mercantilism). A pro-tariff policy that seeks to minimize imports is as far away from Adam Smith as you can get.


A lot of Americans use the word liberal wrong to mean some form of left-centre social democracy. Trump is obviously very against this.


Trump doesn't fall under normal political ideology of left/right government/free market. He is pro-Trump and everything else is details.

You're confusing international politics with internal politics. He wants the US internally (ie. Everything within their borders) to be more liberal free enterprise than it has been in decades.

Internationally he is using tarriffs on other countries to protect America's internal free enterprise by correcting for other countries' intentionally devalued foreign currencies (among other things).

He is also using tarriffs and America's massive consumer market as leverage to make sure America is treated fairly in global markets (or what he perceives to be more fairly at least).

[Build.It]

Originally Posted by MolsonExport

Do you even know what that means? You and your inane posts are extremely tiresome. And very predictable.

Mark Carney is an economist. He was the governor of the Bank of Canada, and the governor of the Bank of England. He is a former chair of the Financial Stability Board. Prior to his governorships, Carney worked at Goldman Sachs as well as the Department of Finance Canada. Carney spent 13 years at Goldman Sachs and worked in their Boston, London, New York City, Tokyo, and Toronto offices.

Following his governorships, he served as chair and head of impact investing at Brookfield Asset Management (BAM) and as chair of the new board of directors for Bloomberg L.P.

Carney graduated from Harvard in 1988 with a bachelor's degree with high honours in economics, before postgraduate studies at the University of Oxford at St Peter's College and Nuffield College, receiving master's and doctoral degrees in the same field in 1993 and 1995, respectively.

The list goes on. And on.

No PM has ever had more qualifications or experience in the financial world than Mark Carney.

I was going for the indirect approach, but since that didn't work I guess I have to spell it out for you.

Carney worked for Goldman Sachs as a head of investment banking in the run up to the GFC. You are a business professor, so I'm sure I need not remind tou that Goldman was one of the biggest culprits in the creation of the US housing bubble (by packaging dog-shit NINJA loans together and calling them AAA). Carney was undoubtedly directly involved in this (his title and the timeline overlaps directly).

Carney then became the governor of the bank of Canada and introduced artificially low interest rates into our economy, lighting the spark which allowed our housing bubble to form as well.

Then he went to the UK and did the exact same thing there - 7 years of QE + ultra-low interest rates = housing bubble. All while the UK registered 0% growth for that entire time.

If that's not enough, he then came back to Canada, became Trudeau's personal financial advisor and encouraged him to run the largest deficits we've ever seen with artificially low interest rates, which pumped our housing market even further.

Literally Carney's entire career has been spent pumping up housing markets.

You have benefitted from Carney tremendously. You can thank Carney for your house in London Ontario being worth over $1M and for being to borrow against it to buy whatever it is you spend money on.

Carney wants to keep the party going so that people like you can keep borrowing against your house into perpetuity and continue to live beyond your means.

It's not exactly a mystery why you're supporting him.

And it's people like me (who live under our means) who pay for that via high taxes and inflation.

That's why it was ironic that you called me embarassing.

[samne]

Mark Carnage has been an advisor to the Liberal government since 2020. More or continuation of the same…no thanks.

We need a change.

[WarrenC12]

Originally Posted by MolsonExport

No PM has ever had more qualifications or experience in the financial world than Mark Carney.

It's actually hard to imagine if that would even be possible to be more financially qualified.

How many people in the world have been heads of two "Federal Reserve" level banks? Of G7 nations no less?

[kool maudit]

Originally Posted by MolsonExport

Mark Carney is an economist.

[samne]

Originally Posted by WarrenC12

It's actually hard to imagine if that would even be possible to be more financially qualified.

How many people in the world have been heads of two "Federal Reserve" level banks? Of G7 nations no less?

Like the US election, Canada’s will be determined by the younger voter. They are the ones in trouble.

Being a Bureaucrat Central Bank Governor will hold little to zero influence on them. They just want opportunity and constantly flashing past resume just doesn’t exude optimism.

[Innsertnamehere]

Mark Carney is the definition of a "technocrat".

And honestly, I don't hate that.

It tends not to do well in elections however. Populism wins elections these days, not having a good resume.

[samne]

Originally Posted by Innsertnamehere

Mark Carney is the definition of a "technocrat".

And honestly, I don't hate that.

It tends not to do well in elections however. Populism wins elections these days, not having a good resume.

Agreed

[P'tit Renard]

Originally Posted by samne

Like the US election, Canada’s will be determined by the younger voter. They are the ones in trouble.

Yep..even the Toronto Star seems to be getting the message, even if it falls on deaf ears in the Katie Telford war room:


I get why four in 10 young Canadians want to join the U.S.

https://www.thestar.com/opinion/star-col...e227fec-dcc2-11ef-9e3d-93d9d0157831.html

[Dengler Avenue]

Originally Posted by P'tit Renard

Yep..even the Toronto Star seems to be getting the message, even if it falls on deaf ears in the Katie Telford war room:


I get why four in 10 young Canadians want to join the U.S.

https://www.thestar.com/opinion/star-col...e227fec-dcc2-11ef-9e3d-93d9d0157831.html

Anecdotally, I met with a coworker who’s just 2 years older than me last Saturday, and he shared that sentiment too.
“F**k health care. I don’t want to pay for someone else’s poor lifestyle.”

[whatnext]

Originally Posted by Dengler Avenue

Anecdotally, I met with a coworker who’s just 2 years older than me last Saturday, and he shared that sentiment too.
“F**k health care. I don’t want to pay for someone else’s poor lifestyle.”

LOL he might change his tune when his poor genetics give him a heart condition or a stroke or bad knees.

[samne]

The only chance Carney and Liberals have is by offering something like UBI.

I get the feeling they will present it out of desperation.

Nothing else would do it for them.

[Dengler Avenue]

Originally Posted by samne

The only chance Carney and Liberals have is by offering something like UBI.

I get the feeling they will present it out of desperation.

Nothing else would do it for them.

Kathleen Wynne did just that leading up to the 2018 Ontario election and the liberals still went from majority to losing official party status.

[MolsonExport]

Originally Posted by Build.It

I was going for the indirect approach, but since that didn't work I guess I have to spell it out for you.

Carney worked for Goldman Sachs as a head of investment banking in the run up to the GFC. You are a business professor, so I'm sure I need not remind tou that Goldman was one of the biggest culprits in the creation of the US housing bubble (by packaging dog-shit NINJA loans together and calling them AAA). Carney was undoubtedly directly involved in this (his title and the timeline overlaps directly).

Carney then became the governor of the bank of Canada and introduced artificially low interest rates into our economy, lighting the spark which allowed our housing bubble to form as well.

Then he went to the UK and did the exact same thing there - 7 years of QE + ultra-low interest rates = housing bubble. All while the UK registered 0% growth for that entire time.

If that's not enough, he then came back to Canada, became Trudeau's personal financial advisor and encouraged him to run the largest deficits we've ever seen with artificially low interest rates, which pumped our housing market even further.

Literally Carney's entire career has been spent pumping up housing markets.

You have benefitted from Carney tremendously. You can thank Carney for your house in London Ontario being worth over $1M and for being to borrow against it to buy whatever it is you spend money on.

Carney wants to keep the party going so that people like you can keep borrowing against your house into perpetuity and continue to live beyond your means.

It's not exactly a mystery why you're supporting him.

And it's people like me (who live under our means) who pay for that via high taxes and inflation.

That's why it was ironic that you called me embarassing.

I don't live beyond my means, and who do you think you are to insinuate that I do?

His entire career has been focused on pumping up housing markets? What an absurd statement.

Is Carney responsible for the rapid population growth? for the lack of supply? for the dwindling greenfield to develop upon? for the excessive fees that Toronto and other cities levy on developers, which get tacked on to the price of new housing? For the baby boom generation, which is the proverbial python in the snake, tying up capital into physical assets? for creating the lifestyle in which owning a SFH is highly desirable?

These problems go well beyond Canada and the UK, two places where he was governor of the country's national banks.

But then I am reminded that you were the one that characterized Mark Carney as "anti capitalist"

As for the subprime housing crisis, that was largely due to deregulation of mortgages and oversight. And if you were taking notes, you will realize these housing price collapse occurred IN THE UNITED STATES, under GW Bush (Repblican, naturally), and did not happen in Canada (where...yup you guessed it, at that time, Carney was Governor of the Bank of Canada).

You are arguing from an a priori conviction, and doubling down with mis-characterizations and made up information. Dunning-Kruger effect on full display. Further discussion with you would be unfruitful.

Oh, and by the way, it is none of your business to speculate on what my house is worth, or how I might have benefited or not by its valuation (which means little if I ain't selling it).

[WarrenC12]

Originally Posted by samne

Like the US election, Canada’s will be determined by the younger voter. They are the ones in trouble.

Being a Bureaucrat Central Bank Governor will hold little to zero influence on them. They just want opportunity and constantly flashing past resume just doesn’t exude optimism.

That's not the argument though, the argument was that he wasn't qualified.

[samne]

Originally Posted by WarrenC12

That's not the argument though, the argument was that he wasn't qualified.

Freeland would be more qualified over Carney then if you compared CV.

[MolsonExport]

You can't have an argument with people that constantly move the goalposts.

[lio45]

Originally Posted by Build.It

I was going for the indirect approach, but since that didn't work I guess I have to spell it out for you.

Carney worked for Goldman Sachs as a head of investment banking in the run up to the GFC. You are a business professor, so I'm sure I need not remind tou that Goldman was one of the biggest culprits in the creation of the US housing bubble (by packaging dog-shit NINJA loans together and calling them AAA). Carney was undoubtedly directly involved in this (his title and the timeline overlaps directly).

Carney then became the governor of the bank of Canada and introduced artificially low interest rates into our economy, lighting the spark which allowed our housing bubble to form as well.

Then he went to the UK and did the exact same thing there - 7 years of QE + ultra-low interest rates = housing bubble. All while the UK registered 0% growth for that entire time.

If that's not enough, he then came back to Canada, became Trudeau's personal financial advisor and encouraged him to run the largest deficits we've ever seen with artificially low interest rates, which pumped our housing market even further.

Literally Carney's entire career has been spent pumping up housing markets.

You have benefitted from Carney tremendously. You can thank Carney for your house in London Ontario being worth over $1M and for being to borrow against it to buy whatever it is you spend money on.

Carney wants to keep the party going so that people like you can keep borrowing against your house into perpetuity and continue to live beyond your means.

It's not exactly a mystery why you're supporting him.

And it's people like me (who live under our means) who pay for that via high taxes and inflation.

That's why it was ironic that you called me embarassing.

Huh. You’re doing a great job selling me on Carney

[Build.It]

Originally Posted by MolsonExport

I don't live beyond my means, and who do you think you are to insinuate that I do?

...

Oh, and by the way, it is none of your business to speculate on what my house is worth, or how I might have benefited or not by its valuation (which means little if I ain't selling it).

I'm not insinuating anything, you've said this yourself:

"We both struggled for years, laden down with heavy student loans, which required that we take out a heavily-leveraged mortgage. My car is 9 years old, and I haven't switched to a hybrid/electric because I can't afford it. The HVAC/heat pump replacement was financed, and last summer, I had to take out a second mortgage to help make ends meet."

I don't for a second believe that a supposedly smart business professor doesn't understand what money printing + artificially low interest rates (+ artificial land scarcity) does to house prices. Certain other members on here I will give the benefit of the doubt to, but I don't for a second believe that you are that naïve. You know exactly how this works.

So based on your personal situation, what Carney has done is in his career so far, and is likely to do if he became PM, and your professional expertise, it is absolutely in your best interest to support Carney. I would probably want him to win as well if I were you. At least be honest about the reason though.

Similarly it is in my best interest for the housing market to crash back to fundamentals, and for Canada to have more free enterprise, and I will vote for whoever is most likely to allow that to happen.

By the way, a twilight-aged professor routinely saying how terrible single-family detached houses are and how we should live like Europeans, while he himself has lived in a detached house for over a decade is about as hypocritical as it gets. Some might even call it ironic.

I don't mind people voting for self-serving reasons, as long as they are honest about it. But if you're going to keep poking me and pretending like you are some special ultra-ethical unicorn, then expect to be called out on your bullshit.

I'd respect you if you simply said:
"I own a detached house which has gone up tremendously in value due to loose monetary policy and anti-development policies. This increased valuation has allowed me to take on larger loans against my house and supplement my income. As a result I've been able to live a lifestyle beyond what just my income alone can support. I will support whoever is willing to keep this going because it's worked out great for me. Also I'm terrified of what would happen if someone with an opposite agenda got elected because I might be fucked."

But I don't respect bullshitters.

[WarrenC12]

Originally Posted by samne

Freeland would be more qualified over Carney then if you compared CV.

Sure, maybe. They are both very qualified, no doubt about that. Freeland has more Trudeau baggage though. I expect the membership to vote for Carney based on what I see today.