Raise the Hammer

Well bigguy, if you have 2 degrees from Mac, you should certainly be able to think better than that. Then again, degrees rarely help in thinking, just following the program. But like many, you assume that folks without your precious degrees cannot think. Please read what Jane Jacobs has to say about those bits of paper you got - which she reduces to mere credentialism, quite appropriate, given the quality of your 'thoughts'.

While it is comforting to know that our debt is held internally, does it not occur to you that the international climate, along with the dire consequences of letting our loonie go much higher has no effect on interest rates? We are not yet at the point of issuing war bonds and until that point is reached, the downvoters here must remember that bondholders want to be assured they will be paid back in currency worth something. Ever since Trudeau virtually traded our internal controls over monetary for membership in G7/ Club of Rome, we have been and are very much subject to international financial pressures. Thank goodness some controls were maintained on banks but we shall see what the G20 meeting brings - the pressure is on Canada to cave in to globalist banksters.

Yes indeed I pay close attention to the US, but not via TV or MSM. The prospect of their much-deeper-than-reported troubles spilling over into Canada troubles me deeply, and might trouble you too, if you weren't so self absorbed in your entertainments.

As for your 'gotta spend in order to earn' mantra, your vaunted economics degree should have taught you that investments should be made in productive assets, not consumptive entertainments, which should follow, not precede wealth generation. Dubai is arguably the latest example. The oft-repeated-and therefore-believed notion that companies won't locate here without a stadium is just a notion, not a reality. If we just cleaned up what we've got, there is already plenty to offer without any need whatsoever to spend $100 million on a seldom used moneypit. This notion also ignores two other realities BigBrain forgot. It ignores the greater desirability of stable organic (internal) growth over volatile, ephemeral and demanding transplant growth. And it ignores what other communities have been able to do without having to build expensive stadia first(Kingston, Waterloo). There are other factors far far more important than mere playthings and when business people make decisions, they can sense what is economically healthy and what is not. Squandering is not healthy economics, but perhaps you fell asleep in that lecture.

Your last paragraph is stupid beyond comprehension. I would rather use my small mind to make baby but sustainable steps than to make colossal white elephants as promoted by some too-big-for-his-britches-guy who thinks that"Increased revenues as a result of those improvements pay for the improvements" Umm, this stadium is acknowleged to be a money loser not money maker. Subsidy, not revenue.

You said: "Bankers and investors aren't stupid"??!!! You fool. Who got us into the mess that still threatens to take down our economies/ currencies? Did we not have to bail out all those smart investors who got suckered into buying ABCPs. Fact is, Mr. Know-it-all-economist-with-multiple degrees, such people run in herds. Only rare individuals such as Soros and his mentor, Karl Popper are able to do otherwise,even if I abhor his/their methods. You think you are such a person? Ha! As they say in bloggerland, ROFLMAO.

Hamiltonians, listen to BigPiedPiperGuy and his ilk at your peril.