OTTAWA — Yesterday, on October 13, 2020, Pierre Poilievre, Conservative MP for Carleton shared on Twitter a clip of an address of his in Parliament speaking on Canada’s debt and debt to GDP ratio. He cited the year of 1995 where The Wall Street Journal ran headlines / stories saying things like “Bankrupt Canada?” and “Canada … an honorary member of the Third World…”
“In the early 1990s, this country literally ran out of money when finance officials went to lending markets and could not find a single solitary person on Earth willing to lend a dollar to the Government of Canada for fear that it could not pay the money back.”
He continued saying at that time (1995), we had a debt to GDP ratio of 66.6 per cent.
In March this year we had a 30 per cent debt to GDP ratio — with a safety buffer of 36.6 per cent before things were to get grim or “where we can expect to go bankrupt,” as Poilievre puts it.
Then the COVID lockdowns happened — and for what? — A virus less deadly than the yearly deaths for cardiovascular disease, accidents (including car crashes) and cancer. As for the flu, I would personally say it is as deadly as COVID — but really it is just a bad flu season. (8,511 influenza deaths in 2018 vs our current total of COVID deaths at 9,697).
As we now know, many of the deaths affiliated with COVID weren’t actually caused by COVID — although the exact number is still unknown.
“Humans can accept significant danger and loss of numerous lives, provided these happen in a manner to which they are accustomed … But when unexpected dangers emerge, they fear these more than is truly justified.”Jeffrey S. Rosenthal, author of Struck by Lightning: The Curious World of Probabilities
I think we need to fear our county going bankrupt — especially at the hands of the corrupt government that is Justin Trudeau and his Liberal Party of Canada.
We need to fear losing what matters most to us — our Charter of Rights and Freedoms.
We need to fear our country becoming less Democratic and more Socialistic — dare I even say Communist?
“So, first of all, let me assert my firm belief that the only thing we have to fear is…fear itself — nameless, unreasoning, unjustified terror which paralyzes needed efforts to convert retreat into advance. In every dark hour of our national life a leadership of frankness and of vigor has met with that understanding and support of the people themselves which is essential to victory. And I am convinced that you will again give that support to leadership in these critical days.”32nd President of the United States, Franklin D. Roosevelt at his first inauguration.
Back to Poilievre — “Today it is at 50 per cent of GDP. In other words, the government has more than eliminated half of the buffer that existed between where we were and where we go off the cliff. That means the trajectory that we are on is not sustainable. The problem with cliffs is that while you approach them gradually — you fall off them suddenly. And once you are off the cliff — it is too late.”
WATCH IT: Poilievre’s address in reply to the speech from the throne in the House of Commons.
Halfway to the cliff’s edge. pic.twitter.com/ULOUcZOuZY— pierrepoilievre (@PierrePoilievre) October 13, 2020
What he’s saying here is this: we as a country do not have a lot of room left to roll before we drive right off that cliff into the grimmest times our country has seen since the early 1990s. We might just go bankrupt if no one intervenes.
I damn well wish someone would intervene for the Canadian people like Jagmeet Singh intervened for Justin Trudeau to keep him off the chopping block and stop a vote of no confidence.
Financial advisors have been saying for months that our level of spending is unsustainable — yet Trudeau hasn’t listened one bit — instead he’s spending money like it’s going out of fashion.
Oh, and don’t forget when Trudeau said; “We took on debt, so Canadians wouldn’t have to.”
That’s gotta be the dumbest thing he’s ever said — right? — I guess that’s a little too nice, I wouldn’t want to inflate his ego.
Trudeau doesn’t realize that “THEIR DEBT IS OUR DEBT,” as Diverge co-owner, Greg Staley once said on a livestream. With more debt comes more taxes, and with more taxes comes more money Canadians will have to fork out of their ever thinning pockets.
According to Investment Executive, 53 per cent of Canadians are living paycheque to paycheque. More than half of Canadians are not prepared for financial emergencies, a survey from Refresh Financial finds.
The average Canadian cannot afford tax hikes, a second carbon tax or literally ANYTHING more than they already pay for each and every month — yet you couldn’t get that through Justin Trudeau’s head if you tried.
@BroderickVisser via Twitter
Diverge Media doesn’t get media bailout money like the mainstream media, we work hard in our free-time outside of our regular jobs to tell the other side of the story and produce content like this. If you can spare a few dollars, any amount can be selected by donating below or visit the Donate To Diverge page on our site. Thank you in advance.