Bank of Canada to drop interest rate to 0%

[H_O]

i think things are goint to get ALOT WORSE.
I think the fake and corrupt monetary syteym is beyond repair.
the whole financial syteym is a BIG Pyramid scheme.
Every time they print money, the government issue bonds. WHERES ALL this bailout money coming from? Indebting the people to save the bank.
Look how long the bank has been sticking it into the public with high interest rates, bank fees, charging the public to access there money.
you watch, i think things going to get real bad

[Dr.Dudd]

Re: Bank of Canada to drop interest rate to 0%

No..No!! where you get that?? Don't Obama is just creating unnecessary fear?/ Isn't that your mantra?/
Is it that it is comming too close to you, for you to have fun about it??

[X]

Re: Bank of Canada to drop interest rate to 0%


Canucks in fi a rude awakening.

Mi checed out a new development over the weekend, just fi see how the home prices a guh pon new homes in the neighbourhoood.

1800 sq ft house starting at $470K Now thats a "basic" model. By the time u dun request the regular stuff, u over 1/2 mill.
Now mi a pretend seh mi a buyer and di sales agent dem a meck mi know dem almost sold out
Mi thought to miself.. dem people really inna lala land to rathid.

One builder on the project, people been walking away from closings in the most recent phase. This include dem $30K deposits. Suh what the builder been doing is offering $10K back if you complete the closing.

Mi heard that in the 90s people had to walk away from homes.. Harper and him racist cabinet deh yah a waste time a critique Obama before him come up with a realistic stimulus plan. The banks right now on dem own, trying to implement them own stimulus plans.

[H_O]

Re: Bank of Canada to drop interest rate to 0%

thats right. why should the taxpayer bailout the bank further indebting the public?..where do you think this bailout money in the states coming from? i get it--Obama going to save the world hes just the same---helping banks with taxpayer money and painting a face hes helping the public-im sure hes had dinner with all the bank execs.

i say let the chips fall where they may fall.

[Diplomat]

Re: Bank of Canada to drop interest rate to 0%

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: H_O</div><div class="ubbcode-body">thats right. why should the taxpayer bailout the bank further indebting the public </div></div>
What Canadian bank is being bailed out?

[H_O]

Re: Bank of Canada to drop interest rate to 0%

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: CEW</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: H_O</div><div class="ubbcode-body">thats right. why should the taxpayer bailout the bank further indebting the public </div></div>
What Canadian bank is being bailed out? </div></div>thats my point. there too busy doling it to the auto companies

im sure TD, Royal Bank, BMO will be lining up soon....

[Diplomat]

Re: Bank of Canada to drop interest rate to 0%

Royal just reported profit of over $1B, and I'm sure the others all had profitable quarters. I'm just thankful that as at right now, we're in much better shape on some things than our friends south of the 49th.

[sagal]

Re: Bank of Canada to drop interest rate to 0%

Bank of Canada is withdrawing their controversial rosy outlook for the economy's rebound. They now suggest the recession will last longer than this summer and could hang on the entire year.&quot; Anyone could have made this prediction, everyone and I mean everyone knew that his statement last month was BS. Everything is rosy, relax don't worry and this is a great buying opportunity! These rate cuts will add nothing to the economy,Greenspans rate cutting started this whole mess and the BoC believes that this is going to add a stimulous now! This economy will stall for a long time until the US admits that it was easy credit got us in this mess and easy credit is not going to us out of it. The United States of America is BANKRUPT BABY!

[Dr.Dudd]

Re: Bank of Canada to drop interest rate to 0%

<span style="font-style: italic">Greenspans rate cutting started this whole mess </span>
What economic principles are you basing this statement?/
Seem loke you listen to too much Limbaaaa!!
Greenspans rate cutting started this because the econnopmy had just about ready to crash.

If he did not do so, a lot of the variable intrest rate martgages would have increased then and cause the housing bubble to burse.

So how would this have been better?
that is happened earlier??
The Bank of Canada has very few other options. What shou;d they do....?
raise intrest rate so that business can't afford to borrow,and push up the monthly mortgage payment on home owners??

[X]

Re: Bank of Canada to drop interest rate to 0%

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: H_O</div><div class="ubbcode-body">thats right. why should the taxpayer bailout the bank further indebting the public?..where do you think this bailout money in the states coming from? i get it--Obama going to save the world hes just the same---helping banks with taxpayer money and painting a face hes helping the public-im sure hes had dinner with all the bank execs.

i say let the chips fall where they may fall. </div></div>

1. Banks SHOULD NOT be bailed out. It never work it the states, it will not work here.
So tec a chill pill.

The banks will take the monies given to them and sit on it, hoping it with hatch a chicken

Stimulus = Work. NOT bailouts.

[Andrewnaqi]

Re: Bank of Canada to drop interest rate to 0%

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: H_O</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: CEW</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: H_O</div><div class="ubbcode-body">thats right. why should the taxpayer bailout the bank further indebting the public </div></div>
What Canadian bank is being bailed out? </div></div>thats my point. there too busy doling it to the auto companies

im sure TD, Royal Bank, BMO will be lining up soon.... </div></div>
what are you talking about all the banks here are profitting. EVERY ONE

[Dr.Dudd]

Re: Bank of Canada to drop interest rate to 0%

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Andrewnaqi</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: H_O</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: CEW</div><div class="ubbcode-body">[quote=H_O]thats right. why should the taxpayer bailout the bank further indebting the public </div></div>
What Canadian bank is being bailed out? </div></div>thats my point. there too busy doling it to the auto companies

im sure TD, Royal Bank, BMO will be lining up soon.... </div></div><div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">
what are you talking about all the banks here are profitting. EVERY ONE </div></div>Come on people a bank can make profut one month and crash the next.
It os not baout profits. It is all about the balacne sheet.
That is the value of their assets as against the value pf theor liabillities.
The value of those assets can go south in no time. Ever herad about the oil sans of Alberta??

what do you think th evalue today as against say a year ago?
It is just a matter of time.
As the valye of those properties they loand against fall, they will need deposits to make up for the reduction of theor assets value.
If they don't ge it they will go bankrupt.

Whohhh back to macro Ecomics 101.

[H_O]

Re: Bank of Canada to drop interest rate to 0%

what do you know about the oil sands of Alberta?
I worked up in Fort Mac.
let me tell you, when the price of oil hits the $26 a barell mark- it is not worth scrapping the ground for.
Syncrude closed the gates when oil fell in the 80s

Alberta is a roller coaster ride..
Look at Canadas Diamond Mines owned by Debeers a Billiton Group. they cant flood the world with diamonds. and diamonds arent just for you pretty little fingers. the industrial use is imense.

[Boricua_papi]

Re: Bank of Canada to drop interest rate to 0%

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: sagal</div><div class="ubbcode-body">Bank of Canada is withdrawing their controversial rosy outlook for the economy's rebound. They now suggest the recession will last longer than this summer and could hang on the entire year.&quot; Anyone could have made this prediction, everyone and I mean everyone knew that his statement last month was BS. Everything is rosy, relax don't worry and this is a great buying opportunity! These rate cuts will add nothing to the economy,Greenspans rate cutting started this whole mess and the BoC believes that this is going to add a stimulous now! This economy will stall for a long time until the US admits that it was easy credit got us in this mess and easy credit is not going to us out of it. The United States of America is BANKRUPT BABY!
</div></div>

You seem to say that with such enthusiasm, Sagal.

[Dr.Dudd]

Re: Bank of Canada to drop interest rate to 0%

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: H_O</div><div class="ubbcode-body">what do you know about the oil sands of Alberta?
I worked up in Fort Mac.
let me tell you, when the price of oil hits the $26 a barell mark- it is not worth scrapping the ground for.
Syncrude closed the gates when oil fell in the 80s

Alberta is a roller coaster ride..
Look at Canadas Diamond Mines owned by Debeers a Billiton Group. they cant flood the world with diamonds. and diamonds arent just for you pretty little fingers. the industrial use is imense. </div></div> You think that the property value is the same after they close shop??
And what do you think that do to the value of the security the banks hold on th emoney they lent to those operations??
So you think that th eCanadian economy and by extension the banks are sound Eh?!?
Welll I was saying the same about the US economy more than 5 years ago and just about every body claim I was nuts.