Barrhaven denizen

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Joined 1 year ago
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Cake day: June 10th, 2023

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  • The Canadian govt is the primary creator of Canadian dollars.

    When the federal govt runs a deficit of say $1B, that’s a surplus of $1B in the private sector. $1B more spent into industry than collected in taxes. Good times for the private sector.

    When the federal govt runs a surplus of $1B, that is a deficit of $1B in the private sector. $1B more collected in taxes than spent. This is an absolute disaster for the economy.

    When you consider the above, you can see how ridiculous it is for the federal govt to run a balanced budget or surplus. A balanced budget is a strongly recessionary position, choking off economic growth in the private sector.


  • John@lemmy.catoWikipedia@lemmy.worldEddie the Eagle
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    1 month ago

    I was lucky enough to witness his jumps in 1988. Later, driving down the highway in Calgary, we pulled up behind the Jamaican bobsled team, with their sled, riding in the back of a pickup. Took a picture. Mostly forgot about it.

    It was neat at the time, but had no idea how famous they would both become.