Thanks for the analysis. I appreciate you crunching the numbers so I don’t have to.
One thing you didn’t mention is that interest rates were close to 0 for much of the 2010s. So, there’s little cost in going into deficit. I expect things will be quite different going forward and higher than interest rates will be (or should be) a disincentive to more excessive borrowing.
All electable parties in Canada support the welfare/nanny state and their own delusions in their abilities to manage leviathan. Where they differ is in their incentives / disincentives to grow the economy and in their levels of exuberance in buying off the marginal voter. Your data did confirm Harper's efforts at bringing down the deficit to close to zero by the time the media had finally helped replace him with a return to the Trudeau dynasty and requisite spending increases.
Unfortunately too many vote for governments that give them the most 'goodies', especially when someone else will pay all or most of the bills for it, either now or in the future.
Not party ideologies. All parties follow financial sector ideologies.
95% of the “medium of exchange” is created in the private sector of the economy. Only 5% is money created as a public utility by the people (government) There is no need for the government to borrow or carry debt, or charge taxpayers interest thereon. Instead of banks creating a medium of exchange by making loans and debt, the government should create all money and advance it for circulation in the private sector. The Government only guarantees bank deposits because it does not require that deposit accounts represent actual money created equally for all Canadians. Money created equally for people by the government is paid to individuals or entities in the private sector for goods and services, or advances, to create long term equity in assets of the government (equally for all Canadians) or to pay to develop public services for the use of, and to be repaid by, the users in the private sector.
Prime Minister MacKenzie-King stated:
“Once a nation parts with the control of its currency and credit, it matters not who makes the nations’ laws. Until the control of the issue of currency and credit is restored to government and recognized as its most sacred
responsibility, all talk of the sovereignty of parliament and of democracy is idle and futile....”
The Government did that for 40 years through Canada’s “Golden economic years”. Then the financial interests regained control and Canada has had 50 years of debt, recessions and the concentration of wealth in the few
Another great article. How would he effect if included of the PC govt in NB effect your numbers, I understand that it is a small province but is curious about its effect compared to other provinces
Taking a quick look at the numbers suggests that NB was doing noticeably better than other Conservative provincial governments in the most recent years I'm looking at (2021-2022). In fact, NB had positive net operating balances for those two years.
Thanks for the analysis. I appreciate you crunching the numbers so I don’t have to.
One thing you didn’t mention is that interest rates were close to 0 for much of the 2010s. So, there’s little cost in going into deficit. I expect things will be quite different going forward and higher than interest rates will be (or should be) a disincentive to more excessive borrowing.
All electable parties in Canada support the welfare/nanny state and their own delusions in their abilities to manage leviathan. Where they differ is in their incentives / disincentives to grow the economy and in their levels of exuberance in buying off the marginal voter. Your data did confirm Harper's efforts at bringing down the deficit to close to zero by the time the media had finally helped replace him with a return to the Trudeau dynasty and requisite spending increases.
Unfortunately too many vote for governments that give them the most 'goodies', especially when someone else will pay all or most of the bills for it, either now or in the future.
Not party ideologies. All parties follow financial sector ideologies.
95% of the “medium of exchange” is created in the private sector of the economy. Only 5% is money created as a public utility by the people (government) There is no need for the government to borrow or carry debt, or charge taxpayers interest thereon. Instead of banks creating a medium of exchange by making loans and debt, the government should create all money and advance it for circulation in the private sector. The Government only guarantees bank deposits because it does not require that deposit accounts represent actual money created equally for all Canadians. Money created equally for people by the government is paid to individuals or entities in the private sector for goods and services, or advances, to create long term equity in assets of the government (equally for all Canadians) or to pay to develop public services for the use of, and to be repaid by, the users in the private sector.
Prime Minister MacKenzie-King stated:
“Once a nation parts with the control of its currency and credit, it matters not who makes the nations’ laws. Until the control of the issue of currency and credit is restored to government and recognized as its most sacred
responsibility, all talk of the sovereignty of parliament and of democracy is idle and futile....”
The Government did that for 40 years through Canada’s “Golden economic years”. Then the financial interests regained control and Canada has had 50 years of debt, recessions and the concentration of wealth in the few
Another great article. How would he effect if included of the PC govt in NB effect your numbers, I understand that it is a small province but is curious about its effect compared to other provinces
Taking a quick look at the numbers suggests that NB was doing noticeably better than other Conservative provincial governments in the most recent years I'm looking at (2021-2022). In fact, NB had positive net operating balances for those two years.