Biggest Sucker of All Nations
So, the Bank of Canada is putting money in the markets to increase liquidity.
No doubt the Bank of Canada is looking at this seriously, when you consider that the Canadian Pension Plan started taking our Canadian tax dollars and putting them into the market. Do a search and you will stories on Canada being an exemplary nation in how we found a solution to our pension problem and funding it for the future.
I started making plans to not live out my retirement in Canada when I read about the plan almost a year ago and I really questioned all those hard years Canadians put in with higher taxes to get our debt under control. Indeed, during these boom years Canada has had significant surplus budgets, which is what government ought to have during an economic boom. You are in serious trouble if your government doesn't have a surplus when times are good.
I think the plan was modified about 5 years ago, but like an average person, I wasn't paying attention to what they were doing, so I only read about when I was doing research on the degree of transference of wealth from youth to age. I was looking for other information and was horrified by what I found.
I expect they've crippled our pension system beyond repair with their "exemplary" plan instead of putting the tax dollars on our debt. And no kidding they are now trying to support the financial markets. Lets just throw out more good money...