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They do when the bond market has faith in governments’ finances. But if/when you lose the confidence of the bond market you’re toast and no longer making decisions. The yields on your bonds skyrocket which means the rates the Feds are paying on new debt skyrockets.The ONLY way the BoC can do anything about that is by buying up literally all the new debt issued by the government and therefore monetizing it. If you’re doing that in a scenario where fixed income investors have lost faith in your ability to repay you’re going to see double digit inflation. For that reason the Feds would decide it would be better to implement painful tax raises and spending cuts to try to assure the bond market they’re serious. This is exactly what happened in 1994 resulting in Martin’s 95 budget. That will stop a runaway scenario but leave yields at a high level. Your mortgage will be significantly more expensive upon renewal.All this to say, I keep seeing it repeated on this sub over and over again that “The BoC will never raise rates, the Feds can’t afford it! Look at their debt pile!”This is totally and completely wrong in exactly 180 degrees. The more debt the Feds rack up the more they’re playing with the confidence of the bond market. When the confidence cracks investors on Wall Street determine what your interest rates are not the BoC.Is this guaranteed to happen? No, Japan shows you can keep the confidence of bond investors with ever higher amounts of debt. But it can happen, it happened in the UK in 1976, in Canada in 1994 in South Korea in 1997, in Brazil in 1997, in Iceland in 2008, in Greece in 2009, and in Ireland in 2010. All to say you’ve been warned. via /r/PersonalFinanceCanada https://ift.tt/3g3yDST

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Ok posted some data here.Blame ‘502 Bad Gateway’ for thishttps://data.ontario.ca/ via /r/ontario https://ift.tt/34si4KY

The three things I love about the book:The gradual tension created leading up to the murder. I could feel how some of them (especially Henry) reached their breaking point.The character development. The book made me feel like I knew these characters personally. The characters were so incredibly complex people (especially Bunny and Henry) who have their own principles and stick to them.The obsession with beauty and aesthetics in the book. The book is filled with lovely quotes and made me fall in love with Ancient Greece.Another great thing about this book is its straightforward writing style. It makes it easier to follow the complicated ideologies and rituals mentioned.Would 100% recommend it. via /r/books https://ift.tt/3hWtqyI

Today, we released new data on household economic well-being during the COVID-19 pandemic—experimental quarterly estimates for the fourth quarter of 2020.Here are some highlights from our release:Disposable income declined for most households in the fourth quarter of 2020, with the largest losses for the lowest-income earners (-10.2%).Despite declines in disposable income in the fourth quarter, all households recorded higher income in 2020 compared with 2019.In 2020, the lowest-income earners saw their net worth grow more than that of other households. These gains were driven by larger increases in real estate assets that outpaced increases in mortgage debt.Lower-income households reduced their non-mortgage debt by more than other households, also contributing to their higher gains in net worth in 2020.[We are Canada’s national statistical agency. We are here to engage with Canadians and provide them with high-quality statistical information that matters! Publishing in a subreddit does not imply we endorse the content posted by other redditors.]—Aujourd’hui, nous publions de nouvelles données sur le bien-être économique des ménages durant la pandémie de COVID-19 — estimations trimestrielles expérimentales pour le quatrième trimestre de 2020.Voici quelques faits saillants de notre publication :Au quatrième trimestre de 2020, la plupart des ménages ont enregistré une baisse de leur revenu disponible; les pertes les plus marquées ont été enregistrées par les personnes gagnant le plus faible revenu (-10,2 %).Malgré les baisses du revenu disponible au quatrième trimestre, tous les ménages ont enregistré un revenu plus élevé en 2020 comparativement à 2019.En 2020, la valeur nette des personnes gagnant le plus faible revenu a crû plus que celle des autres ménages. Les hausses sont attribuables à des augmentations plus importantes des actifs immobiliers, lesquelles ont été supérieures au taux accru de dettes hypothécaires.Les ménages du quintile de revenu inférieur ont réduit leur dette non hypothécaire plus que les autres ménages, ce qui a également contribué à la hausse plus élevée de leur valeur nette en 2020.[Nous sommes l’organisme national de statistique du Canada. Nous sommes ici pour discuter avec les Canadiens et les Canadiennes et leur fournir des renseignements statistiques de grande qualité qui comptent! Le fait de publier dans un sous-reddit ne signifie pas que nous approuvons le contenu affiché par d’autres utilisateurs de Reddit.] via /r/PersonalFinanceCanada https://ift.tt/3wEtF5B

How did household income and wealth change in 2020 during the COVID-19 pandemic? /Comment le revenu et le patrimoine financier des ménages ont-ils varié durant la pandémie de COVID-19 en 2020?

Today, we released new data on household economic well-being during the COVID-19 pandemic—experimental quarterly estimates for the fourth quarter of 2020.Here are some highlights from our release:Disposable income declined for most households in the fourth quarter of 2020, with the largest losses for the lowest-income earners (-10.2%).Despite declines in disposable income in the fourth quarter,

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