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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: Condor who wrote (56226)11/21/2004 3:12:20 PM
From: Seeker of Truth  Read Replies (1) of 74559
 
Hello Condor,
I think it was a great thing to become more solvent because not only is less of the Federal budget spent on interest payments but also the interest rate on the necessary renewal borrowings of most of the debt is lowered. Both Canadian and foreign investors become convinced that Canada is no Argentina and they don't demand such a high interest rate as before. At some point further actual reduction of the debt may not have as much of a good effect as more spending on education, scientific research, urban transportation, health etc. etc. What pulls investment to start or expand businesses in Canada is a mixture of factors and the prevailing interest rates are only one of them. The availability of a tax supported health system may be another.
Probably it's impossible to predict when Canada will have zero debt and while I relish my personal situation, owing nobody a cent, not even my lunch pals, the same may not be the best for a government which can borrow at such favorable rates.
And BTW both Canada and China need an NGO, non-governmental organization, to blow the whistle when forests are being depleted and demand the punishment of officials who didn't do the proper supervising job as well as the punishment of decision makers of the forestry companies involved.
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