COVID 19 and an unconditional income supplement for all Canadians?

Discussion in 'Canada' started by DennisTate, Mar 16, 2020.

  1. DennisTate

    DennisTate Well-Known Member Donor

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    Honorable Minister Mr. Fraser:

    I posted a message to your Facebook page wall a few days ago that I think you may be
    able to use if I send you a copy by e-mail.

    Thank you for considering this theory on one way in which Canada could respond to the present
    COVID 19 crisis.

    Dennis Tate

    p.s. I will be BCCing this message to others who I am hoping may well seriously consider and perhaps
    even promote this option.
    If my advice is unwise.... my apologies but I am going to share this to my wall to get some feedback but I am of the belief that this virus could set in motion a Bear Market, another 1929, and in my forty or so years of researching some theories on economics I am of the belief that one of the best responses to the possible economic fall out may be:

    "Five hundred dollars per Canadian per month, can this work?
    I am advocating the usage of the Bank of Canada that is owned by all Canadians to finance giving five hundred dollars per month to all thirty seven million Canadians.
    It will of course mean much more to poorer Canadians than to millionaires........
    but it could be surprising how many stay at home wives with cheap and stingy millionaire husbands who control the purse strings of the home may find this extra five hundred very helpful indeed.
    I suspect that well over eighty percent of of Canadians will spend this money reasonably well and:
    1. enrol their kids in more after school programs.....
    2. begin to purchase a higher percentage of organic produce vs the cheap GMO stuff
    3. purchase a newer car, SUV or half ton truck
    4. do renovations to their homes
    5. hire landscapers to do certain projects on their properties
    6. pay down their debt loads, especially the higher interest ones
    7. buy a new home rather than renting
    8. buy a cottage outside the city so that they can get away for weekends
    9. many will choose to move to rural Canada in order to escape relatively hectic city life
    10. eat at nice restaurants more often
    11. I also believe that a significant percentage of Canadian women who would have chosen to have an abortion under the present economic situation will CHOOSE to keep their babies as opposed to having an abortion!
    I suspect that less than ten percent of Canadians will attempt to live off this five hundred dollars / month and simply use it to drink or smoke more.
    To whatever degree this happens the worst cases where these Canadians put themselves and others in danger this can be dealt with by issuing food stamps vs a monthly check."

    I posted this to the wall of my local Member of Parliament to give him and his boss P. M. Justin Trudeau something to think about.
    Here is my understanding of what happens if my nation Canada begins to use the Bank of Canada again as
    we used it from 1938 to 1974 to create an extra eighteen billion dollars per month to pay out an unconditional income
    supplement of this nature.

    This extra eighteen billion dollars would be taxed back into the treasury after it would turn over roughly three times so
    it would soon balance the deficit and begin to pay down the national debt of Canada by about eighteen billion dollars
    Canadian per month.

    The key though is that it has to be created in the same manner as we used from 1938 to 1974 when then Prime Minister
    Pierre E. Trudeau made what could be argued was one of the biggest errors by a sitting Canadian P. M. in this last century.
    https://www.facebook.com/SeanFraserMP/posts/2637804269833837
     
  2. DennisTate

    DennisTate Well-Known Member Donor

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  3. DennisTate

    DennisTate Well-Known Member Donor

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    CIA economist Mr. Jim Rickards presents a powerful case that the first part of WWIII will be an economic attack.

    He gives the statistic of seven hundred and ten trillion dollars for the value of the worldwide Derivatives Markets at the fifteen minute mark in this video and he expresses concern about the possibility of a ONE HUNDRED TRILLION DOLLAR meltdown in the Derivatives markets that could spread to other markets. In my opinion giving Canadians a reason to be OPTIMISTIC is the best antidote for the PESSIMISM that could well take the markets into another 1929 like situation, a Bear Market.

    FORGET IRAN, IRAQ, UKRAINE
    THIS IS WHERE WWIII STARTS...




    Responding to a BEAR market vs a Bull market?

     
  4. DennisTate

    DennisTate Well-Known Member Donor

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    https://theglobepost.com/2019/03/28/stephanie-kelton-mmt/
    Everything You Thought You Knew About Economics May Be Wrong

     
  5. waltky

    waltky Well-Known Member

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    Are dey gonna pay `em...

    ... not to get it?
     
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  6. DennisTate

    DennisTate Well-Known Member Donor

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    If people have more money to work with they should be able to boost their immune systems and take more time off from work.



    Carl Cantrell
     
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  7. DennisTate

    DennisTate Well-Known Member Donor

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    http://understandingcanada.ca/

     
    Last edited: Mar 18, 2020
  8. DennisTate

    DennisTate Well-Known Member Donor

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    I just got back some responses that will take me some time to fully digest and respond to:

    Adam Smith:
    (Anonymous reply):
     
  9. DennisTate

    DennisTate Well-Known Member Donor

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    Dennis Tate
    Central - Nova, N. S., Canada, B0J3C0, March 19,2020

    Honorable Minister Mr. Sean Fraser:
    Honorable Minister Prime Minister Justin Trudeau:

    My humble apologies but apparently there are errors in the quotation that I gave in post number one:

    Betty Krawczyk:
    My original message still has potential and some validity and the errors in what Ms. Betty Krawczyk wrote is corrected in this blog that will take some time for me to fully digest:


    Much Ado about 1974: The Bank of Canada in the 70s

    My humble apologies...... but the text of my own suggestion still has validity and actually could be done even if my wording was less than entirely accurate due to the complexity of Bank of Canada policies and procedures from 1938 until now.

    Thank you for your patience with all of this because it is certainly not my intention to give less than
    good and valid information to my local Member of Parliament and by implication to the Prime Minister
    of Canada.

    Dennis Tate

     

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