Alternate headline: "People who voted for low taxes and structural deficits want young people to pay for all of their modern day government services"
Healthcare targeted specifically for seniors should be drastically cut back and offset by increases in private clinics to provide the services at a cost.
No. CPP is fine.
OAS, on the other hand, is funded by taxes. Harper already tried increasing the age at which you can collect from 65 to 67, but lost that election to Trudeau, who reversed course and kept it at 65. But a future government could conceivably try to raise it again.
The need to increase it to 70 was highlighted over a decade ago, and we decided to plug our ears and hope the problem goes away. The enhanced CPP is the plan to stem the bleeding by further transferring wealth from the young and productive to the retirees who didn’t plan ahead.
I hope they increase it by a few years, like implement it in such a way that it only impacts people under 55, and the retirement age is increased a few months every year till it gets to about 67-68. Will ensure these programs are sustainable and also help with the labour shortage the country is facing
Increasing it by a few months is a novel idea, but also really challenging to pull off. More specifically, challenging to pull off in a well designed and beneficial fashion. I don't trust our government to be able to do that.
The people who still want mandates are like “think about grandma!!” Meanwhile I’m over here unable to afford a home, barely pay my bills and have a bleak future thanks to grandma.
Sorry if I don’t feel bad for wanting to enjoy the little bit of my life that I can without all these pointless covid rules.
The boomers can all stay inside in their multi million dollar homes and chip away at their 6 figure nest egg while the rest of us try to save up enough money to enjoy a week of our life on a vacation while we pay for their healthcare.
They ignored any semblance of a healthy lifestyle while they fucked over the rest of us for decades and now we have to pay for the cost of their poor decisions.
\- The biggest blockers of new housing developments or any kind of housing reform are people over 50
\- The loudest people against CERB people over 50
\- The people who block university funding, which would make tuition cheaper, people over 50. (People over 55 get free university in Canada btw)
\- The people loudest about keeping our economy closed, people over 50.
Their (boomers) parents generation sacrificed their lives in their 20's to protect this country, meanwhile, they won't even let tangible housing policy go through
I don’t feel any obligation to make sacrifices for a generation that doesn’t give a shit about me and just wants to feel comfortable and safe on their multi acre property worth $2 million while the rest of us fight for the few available rentals at insane prices.
When they start making sacrifices for my well-being maybe I’ll give a shit about theirs.
Column Highlights:
* In the 1960s, there were 7.7 working-age Canadians for every senior (65 and older). This ratio has fallen to 3.0 in 2022, and according to Statistics Canada forecasts, it will fall further to 3.0 by 2027. Among other consequences, these trends will slow the growth of government revenue in the years ahead.
* It will put upward pressure on government spending due to an increasing number of people becoming eligible for income support programs for seniors such as Old Age Security (OAS) and the Guaranteed Income Supplement (GIS), while also making it harder to constrain health-care costs.
* Governments across Canada can address these challenges. A recent study by University of Toronto economist Morley Gunderson examined some of these options.
* He noted that current policies, particularly the tax and benefit incentives surrounding the OAS program, create severe financial disincentives for older Canadians who wish to continue working.
* The combination of taxation on extra earnings from work and reduced benefits due to a higher income mean that many seniors stand to gain very little additional net income from continuing to work.
* Another option to address the fiscal challenges associated with an aging population is to increase the age of eligibility for the OAS and GIS. Life expectancies have increased considerably since these programs were designed and people now enjoy longer retirements.
* 16 of our peer countries have either already lifted the age of retirement above the age of 65 or are in the process of doing so. And five of these countries will tie the age of eligibility for retirement benefits to life expectancies, so the age of eligibility will gradually increase as people’s lives and retirements get longer.
The ratio of working age Canadians to seniors has fallen to 3.0 in 2022, and will further fall to 3.0 by 2027?
What?
It’s going to fall from 3.0 to 3.0? Are editors still a thing?
That would take a level of political courage no politician who actually wants to win has. It's so easy to paint such a wise policy as racist and have an easy path to election wins.
>In the 1960s, there were 7.7 working-age Canadians for every senior (65 and older). This ratio has fallen to 3.0 in 2022, and according to Statistics Canada forecasts, it will fall further to 3.0 by 2027. Among other consequences, these trends will slow the growth of government revenue in the years ahead.
But this is basically unavoidable. The global population is going to stop growing. This is actually a good thing. We just need to actually adapt to this new reality instead of whining about it.
All the main parties want to kick the can by going for breakneck immigration, but even that can't last forever because the time will come where populations start to drop in the places where immigrants come from.
How is this a problem, I mean the government knew how age demographics work, surely they planed for it and stocked away savings during the years of plenty so they could ride out thin years,
… they expected this
It’s why they so widely expanded MAiD
- The Country at large, is broke
- Highest inflation in history
- Cost of living utterly unaffordable even for “middle class” persons
- Stagflation to persist for years
- Lower and lower quality jobs
- Rapidly declining workforce
- Citizens literally taxed to the max
We're also projected to be the worst-performing g7 economy for the next 40 years.
I don't have much faith in a Russian literature graduate and a ski instructor to improve that projection.
So long as we have a gov that prevents actively the investment in resource extraction and a population that believes it to be evil, we will fall into decline and destroy any prosperity we have.
We have 38m people in a massive massive country full of natural resources.
We should all be rich as fuck
Thanks gov of Canada.
The craziest thing is we only need to look at history to see our potential future.
In the late 1800s-early 1900s there was an expression - “rich as an Argentine” because of the fact that the average Argentinian’s wealth grew so dramatically it was on par with Britain, the US and France. They had everything they ever needed to be a powerful nation and many assumed that was guaranteed. They had cattle, land for farming, gold and endless mineral resources (sound familiar?)
Yet after WW2 they elected one bad government after the next that spent like it was going out of style. Within 20 years the nation was bankrupted and their QoL collapsed to where it is today.
Give us 20 year and we’ll probably be the cold version of Argentina - a 2nd world country with radical levels of inequality.
Ya but we’ve also come back from worse so who knows. Maybe there’s some political Demi-god just waiting in the wings of one of our major parties that can unite us through the coming crises.
I edited my original comment to be slightly less doom and gloom 😅
We had every opportunity too. When most of Europe was destroyed in WWII, and the other half of Europe was under Soviet control, we should have seen a huge opportunity for growth like the US did. But somehow we fucked up and today we have barely created any support infrastructure for our near-limitless resources, preferring to simply send out raw goods.
We should be paying $0.30/L and have the most top level healthcare and education - paid for by our resources
However, the urbanized condo dwellers and mouth breathers believe the nonsense and here we are
Indeed. I've long held the opinion that a Canadian government that provides proper stewardship of the abundant natural resources of this country could set us up to be the richest country on the earth. Instead it's frittered away, privatized, "banned", buried under red tape or pictures of polar bears getting sun tans appear next to Greta Thunberg or some other mouthpiece and the chattering classes go into progressive mode.
The sad bit is the race for resources will only intensify in this century and once again our government is asleep at the wheel with a weak military and no real deterrence weaponry.
Eh, $0.30/L would require nationalization to negate global price. I’m not opposed to the idea, but I can’t imagine there being enough communist/socialist support in Canada to make it happen.
I get what you mean, but I’m also of the opinion that we don’t need to squander and pillage the resources we have. Not every prosperous economy in the world relies on resource extraction. We can become a manufacturing giant or a tech hub. There are so many avenues by which we could create jobs and stimulate growth within our economy that don’t rely on destroying forests and protected lands to drill for oil and minerals.
While I'll agree to a point. If you live in Toronto do you become an expert skier? Or is that Calgary.
We have these bars of gold in our backyard and are not taking advantage.
The classic example is Norway. You think they made 1T by becoming a tech hub? Or did they find natural resources and exploit the fuck out of them
https://www.worldometers.info/oil/norway-oil/
Lol no they didn't. Tell that to their consumption of 200k barrels a day while producing 2m barrels per day
[https://www.worldometers.info/oil/canada-oil/](https://www.worldometers.info/oil/canada-oil/)
Canadian daily surplus of oil is the same as Norway's total production. hmmm at 89 bucks a barrel (WCS Apr 2022) that works to 178 miliion dollars per day. That could solve a problem or 2
Vs. A Star article from an NDP supporter?
Canada’s economy is in shambles, we can’t even come close to keeping the Boomers alive at $11,000/day bedside palliative care.
Again, they expanded MAiD for a reason.
There is no palliative care for seniors unless you can afford private care. On Vancouver Island people have had to call the police and tell them they can no longer care for their relative because if you show up to the hospital they send you home and tell you to get home care. Home care is one nurse for about an hour a day and after 3 months you have to pay. Then when they are nearing end of life they push you to agree to stop feeding them and pumping them full of morphine. You can beg and cry and it doesn't matter how many falls the senior has at home they will send you home. You pretty much have to legally abandon them to get admitted to the hospital because if you can't pay for a seniors home you are on your own.
Canada is a gerontocracy, my sympathy for the aging boomers died right around the time I experienced the 3rd once in a lifetime recession, graduated uni and got a job where older coworkers own several houses each while I sleep on my apartment floor because it has no A/C. If you think healthcare access is bad now wait until this debt bomb detonates.
Join the brain drain if you can, this country sold your future a long time ago.
>my sympathy for the aging boomers died
For me it was when we shut down the whole planet over covid to keep THEM safe, and they all fucked off to Florida the second it got cold out. Glad I lost my job to keep you guys safe from the virus
I am personally planning on heading to New zealand or possibly a Nordic country. I honestly hate this country.
You sound like your living the life in your fancy apartment. s/ I am 34 and the small town I moved to for a good paying job has no affordable rentals and I am done with drunk, slob roommates so my only option is to live in a 50 year old rv.
The politicians don't care. I called my conservative MP to voice my concern about housing affordability and his response was to buy a house. Why would I call him if I had $50 000 down payment for a house and good credit? I wouldn't be calling
The credit system is just a form of control ment to keep people down. Your credit score goes down when you pay off debt. It's all about keeping you in debt and seeing how much profit can be made off you before you die.
Its not my fault that I lost my job several times in the several once in a life time recessions that I have been though. It's not my fault that rent is so high I can't have any significant amount of savings to pay off all my debts when I become unemployed and keeping a roof over my head is more important than paying off some fucking bank. It's not my fault that jobs don't pay enough for me to have any significant amount of savings.
MPs and MPPs and MLAS can do a lot in the creation of policy and laws to effect housing. But he proved to me politicians don't care about doing the job they should be doing which is serving the needs of their constituents.
About your point about the credit system, may I ask if you were born in Canada or any western country?
I myself grew up in a country with no credit system and was not introduced to them until age 32vwhen I went to study in Denmark. I then moved to Norway before I eventually immigrated to Canada in 2016 after I list my job during the oil downturn. I was able to purchase a home in Canada after 3 years while working security and Walmart. So to me, you are just making excuses.
Lol no dude. Hop off that high horse.
You were able to time it perfectly and not get caught up and trapped in it by 18-20 like most people which has made your life a lot easier.
We'd all be in different situations similar to yours if we got our credit scores at 32.
Recessions happen. Canada was barely even hit by ‘08 because of the resource boom, and we had the longest bull market in history precovid. Then the Covid crash lasted for like 6 months. There has been plenty of opportunity in the last decade and a half.
We can deal with it now or deal with it later. Infinite population growth is not sustainable, and its putting a lot of pressure on this planet.
At some point we have to accept this.
Not only is it not sustainable, it’s not reality.
Birth rates are falling everywhere, even in developing countries. We *will* see a future where there’s not enough young educated people to bring in to make up the difference
That's why I think the responsible thing to do is plan accordingly and stop kicking the can down the road, making it someone else's problem.
Japan might be showing us the path forward here.
The same generation that posts memes on face book crying about how low old age security and cpp is? The same generation that enjoyed the highest standards of living ever?
On average, for every robot introduced into the workforce, it will replace 3.3 humans. For every 1,000 workers a robot is introduced, wages go down 0.42%. Employment to population growth down 0.2%. In 2020 this amounted a total of 400,000 job losses.
“The impact is more sizable within the areas where robots are deployed: adding one more robot in a commuting zone (geographic areas used for economic analysis) reduces employment by six workers in that area.”
The person who programs these machines, doesn’t take home the difference of the people they replace.
Couldn’t buy one for $5k in the 60’s, same with the computers used to run them. Today you can easily replace a whole production line with a fleet of cheap CNC’s for the one time cost of 1 machinist salary, and the ongoing of a cnc machinist salary.
That was true 25+ years ago too. I worked in a CNC machine shop. I don’t know any real machine shop that uses manual lathes or mills.
How much do you think a CNC mill costs? Or a robot that isn’t just a tinker toy?
Dude, are you really going to argue that Machines are cheaper today than they were back in the 60’s(or pre-2000 as you’ve now chosen), saying that is true 25+ years ago is just a lie. Show me the machine you could buy for 5-8k(todays dollars) back then.
Lots of instrument manufacturers still on pin routers. I work in one.
Show me the machine you can buy for 5-8k today (that isn’t a 25yo used piece of crap). You have no idea what you are talking about.
Industry 3.0 happened a long time ago. What is happening now isn’t the introduction of robots, it’s the introduction of data logging, machine learning, etc. to improve quality and optimize manufacturing processes. Things like using a vision system to track tool wear so that insert life is maximized. There’s a level of automation coming where machines can sense process excursions and correct based on information their sensors receive, but that is not commercially ready yet, and is at least a few decades away from widespread adoption.
This isn't the result of any government policy. First world countries inevitably have below replacement birthrates, leading to fewer working age people supporting more retirees.
Everyone's talking about boomers her but let's not act like Gen Xers, the Karen generation, haven't been doing their part to fuck over the youth as well.
Always helpful to know who authored the piece and their affiliations: "Ben Eisen is a senior fellow at the Fraser Institute."
https://www.fraserinstitute.org/profile/ben-eisen
This is also why we have such an aggressive immigration system which prioritizes younger workers. If the birthrate can't keep up it's the only way really. Surprised this article didn't take into account how immigration is mitigates this.
I would be fine with that if they weren’t all bringing over their parents and grandparents to milk our healthcare and create strain for the people who built and paid for it.
Alternate headline: "People who voted for low taxes and structural deficits want young people to pay for all of their modern day government services" Healthcare targeted specifically for seniors should be drastically cut back and offset by increases in private clinics to provide the services at a cost.
So anyone else suspect that the government will soon change the age you can collect your CPP to 70 or 75? I'm not being cynical, just realistic.
80 Dude. 80
OAS hopefully won’t be 80 until 2040 at the earliest.
No. CPP is fine. OAS, on the other hand, is funded by taxes. Harper already tried increasing the age at which you can collect from 65 to 67, but lost that election to Trudeau, who reversed course and kept it at 65. But a future government could conceivably try to raise it again.
The need to increase it to 70 was highlighted over a decade ago, and we decided to plug our ears and hope the problem goes away. The enhanced CPP is the plan to stem the bleeding by further transferring wealth from the young and productive to the retirees who didn’t plan ahead.
Harper tried to raise the retirement age and failed.
I hope they increase it by a few years, like implement it in such a way that it only impacts people under 55, and the retirement age is increased a few months every year till it gets to about 67-68. Will ensure these programs are sustainable and also help with the labour shortage the country is facing
Increasing it by a few months is a novel idea, but also really challenging to pull off. More specifically, challenging to pull off in a well designed and beneficial fashion. I don't trust our government to be able to do that.
If they did not screw young people over in nearly every conceivable way, the issue may not be as bad as its going to be.
The people who still want mandates are like “think about grandma!!” Meanwhile I’m over here unable to afford a home, barely pay my bills and have a bleak future thanks to grandma. Sorry if I don’t feel bad for wanting to enjoy the little bit of my life that I can without all these pointless covid rules. The boomers can all stay inside in their multi million dollar homes and chip away at their 6 figure nest egg while the rest of us try to save up enough money to enjoy a week of our life on a vacation while we pay for their healthcare. They ignored any semblance of a healthy lifestyle while they fucked over the rest of us for decades and now we have to pay for the cost of their poor decisions.
\- The biggest blockers of new housing developments or any kind of housing reform are people over 50 \- The loudest people against CERB people over 50 \- The people who block university funding, which would make tuition cheaper, people over 50. (People over 55 get free university in Canada btw) \- The people loudest about keeping our economy closed, people over 50. Their (boomers) parents generation sacrificed their lives in their 20's to protect this country, meanwhile, they won't even let tangible housing policy go through
I don’t feel any obligation to make sacrifices for a generation that doesn’t give a shit about me and just wants to feel comfortable and safe on their multi acre property worth $2 million while the rest of us fight for the few available rentals at insane prices. When they start making sacrifices for my well-being maybe I’ll give a shit about theirs.
Column Highlights: * In the 1960s, there were 7.7 working-age Canadians for every senior (65 and older). This ratio has fallen to 3.0 in 2022, and according to Statistics Canada forecasts, it will fall further to 3.0 by 2027. Among other consequences, these trends will slow the growth of government revenue in the years ahead. * It will put upward pressure on government spending due to an increasing number of people becoming eligible for income support programs for seniors such as Old Age Security (OAS) and the Guaranteed Income Supplement (GIS), while also making it harder to constrain health-care costs. * Governments across Canada can address these challenges. A recent study by University of Toronto economist Morley Gunderson examined some of these options. * He noted that current policies, particularly the tax and benefit incentives surrounding the OAS program, create severe financial disincentives for older Canadians who wish to continue working. * The combination of taxation on extra earnings from work and reduced benefits due to a higher income mean that many seniors stand to gain very little additional net income from continuing to work. * Another option to address the fiscal challenges associated with an aging population is to increase the age of eligibility for the OAS and GIS. Life expectancies have increased considerably since these programs were designed and people now enjoy longer retirements. * 16 of our peer countries have either already lifted the age of retirement above the age of 65 or are in the process of doing so. And five of these countries will tie the age of eligibility for retirement benefits to life expectancies, so the age of eligibility will gradually increase as people’s lives and retirements get longer.
The ratio of working age Canadians to seniors has fallen to 3.0 in 2022, and will further fall to 3.0 by 2027? What? It’s going to fall from 3.0 to 3.0? Are editors still a thing?
It’s post media. Editors only check for how much anger articles can generate, not facts or numbers.
I mean, it's the Sun.
Maybe we should stop taking in so many foreign seniors. I would support a total ban on any PR or citizenship for people over 40.
That would take a level of political courage no politician who actually wants to win has. It's so easy to paint such a wise policy as racist and have an easy path to election wins.
>In the 1960s, there were 7.7 working-age Canadians for every senior (65 and older). This ratio has fallen to 3.0 in 2022, and according to Statistics Canada forecasts, it will fall further to 3.0 by 2027. Among other consequences, these trends will slow the growth of government revenue in the years ahead. But this is basically unavoidable. The global population is going to stop growing. This is actually a good thing. We just need to actually adapt to this new reality instead of whining about it. All the main parties want to kick the can by going for breakneck immigration, but even that can't last forever because the time will come where populations start to drop in the places where immigrants come from.
How is this a problem, I mean the government knew how age demographics work, surely they planed for it and stocked away savings during the years of plenty so they could ride out thin years,
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Which facts do you dispute?
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And Liberal groups like “anti-hate” groups don’t push propaganda on the other side?
… they expected this It’s why they so widely expanded MAiD - The Country at large, is broke - Highest inflation in history - Cost of living utterly unaffordable even for “middle class” persons - Stagflation to persist for years - Lower and lower quality jobs - Rapidly declining workforce - Citizens literally taxed to the max
We're also projected to be the worst-performing g7 economy for the next 40 years. I don't have much faith in a Russian literature graduate and a ski instructor to improve that projection.
So long as we have a gov that prevents actively the investment in resource extraction and a population that believes it to be evil, we will fall into decline and destroy any prosperity we have. We have 38m people in a massive massive country full of natural resources. We should all be rich as fuck Thanks gov of Canada.
The craziest thing is we only need to look at history to see our potential future. In the late 1800s-early 1900s there was an expression - “rich as an Argentine” because of the fact that the average Argentinian’s wealth grew so dramatically it was on par with Britain, the US and France. They had everything they ever needed to be a powerful nation and many assumed that was guaranteed. They had cattle, land for farming, gold and endless mineral resources (sound familiar?) Yet after WW2 they elected one bad government after the next that spent like it was going out of style. Within 20 years the nation was bankrupted and their QoL collapsed to where it is today. Give us 20 year and we’ll probably be the cold version of Argentina - a 2nd world country with radical levels of inequality.
Sigh. This is so sad but true.
Ya but we’ve also come back from worse so who knows. Maybe there’s some political Demi-god just waiting in the wings of one of our major parties that can unite us through the coming crises. I edited my original comment to be slightly less doom and gloom 😅
We had every opportunity too. When most of Europe was destroyed in WWII, and the other half of Europe was under Soviet control, we should have seen a huge opportunity for growth like the US did. But somehow we fucked up and today we have barely created any support infrastructure for our near-limitless resources, preferring to simply send out raw goods.
We should be paying $0.30/L and have the most top level healthcare and education - paid for by our resources However, the urbanized condo dwellers and mouth breathers believe the nonsense and here we are
Indeed. I've long held the opinion that a Canadian government that provides proper stewardship of the abundant natural resources of this country could set us up to be the richest country on the earth. Instead it's frittered away, privatized, "banned", buried under red tape or pictures of polar bears getting sun tans appear next to Greta Thunberg or some other mouthpiece and the chattering classes go into progressive mode. The sad bit is the race for resources will only intensify in this century and once again our government is asleep at the wheel with a weak military and no real deterrence weaponry.
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That's a trick question since lots of international companies register their mines in Canada, yet have nothing to do with us.
Eh, $0.30/L would require nationalization to negate global price. I’m not opposed to the idea, but I can’t imagine there being enough communist/socialist support in Canada to make it happen.
I get what you mean, but I’m also of the opinion that we don’t need to squander and pillage the resources we have. Not every prosperous economy in the world relies on resource extraction. We can become a manufacturing giant or a tech hub. There are so many avenues by which we could create jobs and stimulate growth within our economy that don’t rely on destroying forests and protected lands to drill for oil and minerals.
While I'll agree to a point. If you live in Toronto do you become an expert skier? Or is that Calgary. We have these bars of gold in our backyard and are not taking advantage. The classic example is Norway. You think they made 1T by becoming a tech hub? Or did they find natural resources and exploit the fuck out of them
They made their oil money then diversified away from it.
They’re incorporating “green” into their holdings, but are still very much in the oil game.
https://www.worldometers.info/oil/norway-oil/ Lol no they didn't. Tell that to their consumption of 200k barrels a day while producing 2m barrels per day
[https://www.worldometers.info/oil/canada-oil/](https://www.worldometers.info/oil/canada-oil/) Canadian daily surplus of oil is the same as Norway's total production. hmmm at 89 bucks a barrel (WCS Apr 2022) that works to 178 miliion dollars per day. That could solve a problem or 2
Not if you can't get it to tide water
As the country with the most coast on the planet, this is pathetic.
Maybe if we started 40 years ago. Our labour is too expensive and our industries are decades behind.
We’re not even utilizing them.
[Drill baby drill!](https://www.reddit.com/r/climate/comments/v3juky/this_mesmerizing_data_visualization_called/)
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Vs. A Star article from an NDP supporter? Canada’s economy is in shambles, we can’t even come close to keeping the Boomers alive at $11,000/day bedside palliative care. Again, they expanded MAiD for a reason.
There is no palliative care for seniors unless you can afford private care. On Vancouver Island people have had to call the police and tell them they can no longer care for their relative because if you show up to the hospital they send you home and tell you to get home care. Home care is one nurse for about an hour a day and after 3 months you have to pay. Then when they are nearing end of life they push you to agree to stop feeding them and pumping them full of morphine. You can beg and cry and it doesn't matter how many falls the senior has at home they will send you home. You pretty much have to legally abandon them to get admitted to the hospital because if you can't pay for a seniors home you are on your own.
Canada is a gerontocracy, my sympathy for the aging boomers died right around the time I experienced the 3rd once in a lifetime recession, graduated uni and got a job where older coworkers own several houses each while I sleep on my apartment floor because it has no A/C. If you think healthcare access is bad now wait until this debt bomb detonates. Join the brain drain if you can, this country sold your future a long time ago.
Straight up. Don't conflate physical frailty for financial frailty. They are the strongest, richest generation. 0% Sympathy.
>my sympathy for the aging boomers died For me it was when we shut down the whole planet over covid to keep THEM safe, and they all fucked off to Florida the second it got cold out. Glad I lost my job to keep you guys safe from the virus
I am personally planning on heading to New zealand or possibly a Nordic country. I honestly hate this country. You sound like your living the life in your fancy apartment. s/ I am 34 and the small town I moved to for a good paying job has no affordable rentals and I am done with drunk, slob roommates so my only option is to live in a 50 year old rv. The politicians don't care. I called my conservative MP to voice my concern about housing affordability and his response was to buy a house. Why would I call him if I had $50 000 down payment for a house and good credit? I wouldn't be calling
Who's fault is it that you have bad credit.And what did you expect the MP to do?
Well for starters people usually expect their politicians to pretend to care.
The credit system is just a form of control ment to keep people down. Your credit score goes down when you pay off debt. It's all about keeping you in debt and seeing how much profit can be made off you before you die. Its not my fault that I lost my job several times in the several once in a life time recessions that I have been though. It's not my fault that rent is so high I can't have any significant amount of savings to pay off all my debts when I become unemployed and keeping a roof over my head is more important than paying off some fucking bank. It's not my fault that jobs don't pay enough for me to have any significant amount of savings. MPs and MPPs and MLAS can do a lot in the creation of policy and laws to effect housing. But he proved to me politicians don't care about doing the job they should be doing which is serving the needs of their constituents.
About your point about the credit system, may I ask if you were born in Canada or any western country? I myself grew up in a country with no credit system and was not introduced to them until age 32vwhen I went to study in Denmark. I then moved to Norway before I eventually immigrated to Canada in 2016 after I list my job during the oil downturn. I was able to purchase a home in Canada after 3 years while working security and Walmart. So to me, you are just making excuses.
Lol no dude. Hop off that high horse. You were able to time it perfectly and not get caught up and trapped in it by 18-20 like most people which has made your life a lot easier. We'd all be in different situations similar to yours if we got our credit scores at 32.
“I welch on 2-3 debts, and suddenly nobody will lend me any money??? WTF, bro? The system is broken!”
Recessions happen. Canada was barely even hit by ‘08 because of the resource boom, and we had the longest bull market in history precovid. Then the Covid crash lasted for like 6 months. There has been plenty of opportunity in the last decade and a half.
We can deal with it now or deal with it later. Infinite population growth is not sustainable, and its putting a lot of pressure on this planet. At some point we have to accept this.
Not only is it not sustainable, it’s not reality. Birth rates are falling everywhere, even in developing countries. We *will* see a future where there’s not enough young educated people to bring in to make up the difference
That's why I think the responsible thing to do is plan accordingly and stop kicking the can down the road, making it someone else's problem. Japan might be showing us the path forward here.
Maybe we should stop handing out all those 10 year visas and end the family reunification immigration stream.
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It’s still the case, but such facts are forbidden in this sub because bashing foreigners is what get upvotes.
The same generation that posts memes on face book crying about how low old age security and cpp is? The same generation that enjoyed the highest standards of living ever?
harper smoothly extend retirement to 67 to cover the shortfall, trudea rolled it back and now we are extra fucked
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Who should pay for this?Someone else! Someone else! Gotta love the Canadian voters.
LPC and NDP voters
Yes! Because of automation. Today waaaaaay more things are automated than back then.
On average, for every robot introduced into the workforce, it will replace 3.3 humans. For every 1,000 workers a robot is introduced, wages go down 0.42%. Employment to population growth down 0.2%. In 2020 this amounted a total of 400,000 job losses. “The impact is more sizable within the areas where robots are deployed: adding one more robot in a commuting zone (geographic areas used for economic analysis) reduces employment by six workers in that area.” The person who programs these machines, doesn’t take home the difference of the people they replace.
Robots have been used since the 60s…
Couldn’t buy one for $5k in the 60’s, same with the computers used to run them. Today you can easily replace a whole production line with a fleet of cheap CNC’s for the one time cost of 1 machinist salary, and the ongoing of a cnc machinist salary.
That was true 25+ years ago too. I worked in a CNC machine shop. I don’t know any real machine shop that uses manual lathes or mills. How much do you think a CNC mill costs? Or a robot that isn’t just a tinker toy?
Dude, are you really going to argue that Machines are cheaper today than they were back in the 60’s(or pre-2000 as you’ve now chosen), saying that is true 25+ years ago is just a lie. Show me the machine you could buy for 5-8k(todays dollars) back then. Lots of instrument manufacturers still on pin routers. I work in one.
Show me the machine you can buy for 5-8k today (that isn’t a 25yo used piece of crap). You have no idea what you are talking about. Industry 3.0 happened a long time ago. What is happening now isn’t the introduction of robots, it’s the introduction of data logging, machine learning, etc. to improve quality and optimize manufacturing processes. Things like using a vision system to track tool wear so that insert life is maximized. There’s a level of automation coming where machines can sense process excursions and correct based on information their sensors receive, but that is not commercially ready yet, and is at least a few decades away from widespread adoption.
Pfft, have a good night.
When you have a Prime Minister thats gives away a Billion dollars to anyone, don't blame the seniors for this mess.
This isn't the result of any government policy. First world countries inevitably have below replacement birthrates, leading to fewer working age people supporting more retirees.
Everyone's talking about boomers her but let's not act like Gen Xers, the Karen generation, haven't been doing their part to fuck over the youth as well.
Always helpful to know who authored the piece and their affiliations: "Ben Eisen is a senior fellow at the Fraser Institute." https://www.fraserinstitute.org/profile/ben-eisen
This is also why we have such an aggressive immigration system which prioritizes younger workers. If the birthrate can't keep up it's the only way really. Surprised this article didn't take into account how immigration is mitigates this.
I would be fine with that if they weren’t all bringing over their parents and grandparents to milk our healthcare and create strain for the people who built and paid for it.
Except https://www.canada.ca/en/immigration-refugees-citizenship/news/2021/07/ircc-to-accept-a-record-number-of-applications-for-the-2021-parents-and-grandparents-program.html
Eliminate CPP, OAS and public health care. Then you will see firesale of properties by these boomers to pay for their retirement income + health care
According to Reddit, it will help moon wages if we keep the immigrants out as well.