Phantasmix Stock Market Blog

In absolute numbers, the deficit is the same (around $20 billion). That’s scary enough. But if you consider that here in Ontario we only have 1/6th of California’s population, the picture looks even worse.

I just learned about it today, and now I’m mad and stressed. Ignorance was definitely a bliss. I was lulled into peaceful complacency by all this talk about how Canada is stable this, and reliable that.

Canada is pretty socialist and for a lot of business that I deal with here, the government is their biggest client. So if the government goes bankrupt, it will affect everyone. Tax receipts haven’t gone down, but the spending is out of control. WTF#&@#kkk!

And on that note, here’s where the money goes in Canada: http://www.phantasmix.com/where-does-your-tax-dollar-go-us-and-canada.html I can’t be bothered to find spending for Ontario alone right now.

Most of it is for debt servicing (interest) and OTHER, meaning “whatever, we stole it”??

Canada’s resale housing market for July posted the largest year-over-year gain in two years, with Western homebuyers leading the way, according to statistics released Friday by The Canadian Real Estate Association. For the first time on record, sales of existing homes climbed to more than 50,000 units for July…

Demand is rebounding sharply in some of Canada’s priciest housing markets, skewing the national average price upward, with the average price rising 7.6 per cent from one year ago to $326,832.

Source: Toronto Real Estate Blog

Toronto real-life anecdote:
A friend of mine sold a condo this July for quite a bit more than what he paid for it 2 years ago.

Seems now is the perfect storm of low interest rates, pent up demand from winter (people got scared by the crisis/recession talk and weren’t willing to sell at firesale prices) and still, very few listings, especially downtown.