[Canada] Canadian Politics Redux

[Malthus]

Well, it is also a function of record-low interest rates, isn't it? When interest rates are so low, you'd expect people to borrow more.

[crazy canuck]

Good points and they are related.  The other part of the study was that debt growth was greater than asset appreciation.  So while it is true that debt and asset value are related (one needs a larger mortgage to afford to buy a place to live) that is not the full explanation.

[Grey Fox]

So, what would be a good policy or set of policies to address the situation?

You are not going to like it.

[crazy canuck]

So, what would be a good policy or set of policies to address the situation?

You are not going to like it.

What do you have in mind?

[Grey Fox]

Nationalization of all resources and banks, at the provincial level.

[crazy canuck]

Nationalization of all resources and banks, at the provincial level.

Now explain how that solves the problem

[Barrister]

New report out saying that Canadians are in more debt and in greater numbers than ever before.  And this data was analyzed during the good times before the crash in oil prices.  I would like to see the political parties propose what they think has caused this and what they think should be done about it.  We could also discuss it here.  Let me get the ball rolling.

It seems to me that the biggest problem is that median wages have remained the same in Canada since about the early 80s.  So what do we do about that?  Cutting individual and corporate taxes during that period of time has benefited some but certainly hasn't helped increase median wages.  If anything it seems to me that the standard of living for most people has declined.  Further, No matter how low our taxes might be they wont change the fact that most of our manufacturing sector is under wage pressure from lower wage paying jurisdictions.

So, what would be a good policy or set of policies to address the situation?

Have they?

http://www.theglobeandmail.com/report-on-business/economy/economy-lab/five-little-known-trends-in-canadian-living-standards/article12322877/

First link I found.  Suggests that while median income declines in the 90s, it increased quite nicely in the oughts.  Also points out a sustained drop in poverty rates.  Finally, suggests that our Gini co-efficient has remained stable since the 90s (with the caveat that doesn't capture inequalities in the top 1%).

[Malthus]

Nationalization of all resources and banks, at the provincial level.

Now explain how that solves the problem

The treatment was successful, but the patient died. 

[crazy canuck]

New report out saying that Canadians are in more debt and in greater numbers than ever before.  And this data was analyzed during the good times before the crash in oil prices.  I would like to see the political parties propose what they think has caused this and what they think should be done about it.  We could also discuss it here.  Let me get the ball rolling.

It seems to me that the biggest problem is that median wages have remained the same in Canada since about the early 80s.  So what do we do about that?  Cutting individual and corporate taxes during that period of time has benefited some but certainly hasn't helped increase median wages.  If anything it seems to me that the standard of living for most people has declined.  Further, No matter how low our taxes might be they wont change the fact that most of our manufacturing sector is under wage pressure from lower wage paying jurisdictions.

So, what would be a good policy or set of policies to address the situation?

Have they?

http://www.theglobeandmail.com/report-on-business/economy/economy-lab/five-little-known-trends-in-canadian-living-standards/article12322877/

First link I found.  Suggests that while median income declines in the 90s, it increased quite nicely in the oughts.  Also points out a sustained drop in poverty rates.  Finally, suggests that our Gini co-efficient has remained stable since the 90s (with the caveat that doesn't capture inequalities in the top 1%).

This analysis shows that even in the best of economic times median incomes were stagnant.  Note he starts his analysis in 1995 as he notes that there is broad acceptance that in the period between 1980 and 1994 there was no median wage increase.  He also cuts out the bad times that began with the Great Recession.

http://www.canadianbusiness.com/blogs-and-comment/median-incomes-stagnant/

[Barrister]

That analysis at the end brings up what I think the answer is - lack of productivity growth vis-a-vis the US.

Not sure what you do about that though.

[crazy canuck]

That analysis at the end brings up what I think the answer is - lack of productivity growth vis-a-vis the US.

Not sure what you do about that though.

I agree that is the solution that article identifies but I don't think it is the solution.  If productivity gain was the answer then wages in the US should not have stagnated.

[Monoriu]

New report out saying that Canadians are in more debt and in greater numbers than ever before.  And this data was analyzed during the good times before the crash in oil prices.  I would like to see the political parties propose what they think has caused this and what they think should be done about it.  We could also discuss it here.  Let me get the ball rolling.

It seems to me that the biggest problem is that median wages have remained the same in Canada since about the early 80s.  So what do we do about that?  Cutting individual and corporate taxes during that period of time has benefited some but certainly hasn't helped increase median wages.  If anything it seems to me that the standard of living for most people has declined.  Further, No matter how low our taxes might be they wont change the fact that most of our manufacturing sector is under wage pressure from lower wage paying jurisdictions.

So, what would be a good policy or set of policies to address the situation?

That's none of the government's business 

[crazy canuck]

New report out saying that Canadians are in more debt and in greater numbers than ever before.  And this data was analyzed during the good times before the crash in oil prices.  I would like to see the political parties propose what they think has caused this and what they think should be done about it.  We could also discuss it here.  Let me get the ball rolling.

It seems to me that the biggest problem is that median wages have remained the same in Canada since about the early 80s.  So what do we do about that?  Cutting individual and corporate taxes during that period of time has benefited some but certainly hasn't helped increase median wages.  If anything it seems to me that the standard of living for most people has declined.  Further, No matter how low our taxes might be they wont change the fact that most of our manufacturing sector is under wage pressure from lower wage paying jurisdictions.

So, what would be a good policy or set of policies to address the situation?

That's none of the government's business 

Arguably that mantra is at least partly to blame.

[Josephus]

How many hours a week do you lawyers put in.    Do you guys even work?

[crazy canuck]

How many hours a week do you lawyers put in.    Do you guys even work?

things settle and leave large chunks of otherwise unallocated time.

Now stop dodging and answer the question