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Old 06-23-2014, 04:09 PM   #1
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BC's hidden debt



Quote:
The Fraser Institute has released a report slamming what it calls the provincial government's 'so called' balanced budget.

The right-wing think tank claims BC's growing debt remains 'hidden' in the province's capital budget which could pose 'serious challenges in the future.'
..............
All levels of government will typically borrow money to pay for capital projects such as roads, schools, bridges and hospitals and record the annual interest payments and amortization expenses in the operating budget.
........
Wen said the government plans a $184M surplus in its operating budget for 2014-2015, but despite the surplus government debt is slated to grow by $1.9B this year.
..............
According to the Canadian Taxpayers' Federation pegs BC's debt at more than $62.3B and their debt clock keeps ticking.

They say each BC resident is on the hook for $13,533.
BC's hidden debt - BC News - Castanet.net

Lets see here, gas tax in Canada is divided among the "Government of Canada" (6.6 - 7 billion) which 2 billion goes to municipal infrastructures (5 billion pocketed) and the provincial taxes (8 billion) are used to fund road repair and construction across Canada. So that should take care of roads!
http://i.imgur.com/ICj9cGX.jpg

And arent we paying tolls for our new bridge... arent our taxes paying for services like schools, privatized hospitals and welfare? How much taxes are collected from British Columbians every year?

I read another article from last year which claims
Quote:
B.C. may be better off debt-wise than some other provinces, but the debt is growing by $18-million per day, the CTF calculated.

Read more: B.C.?s debt clock at $57 billion and growing | CTV Vancouver News
What I would like to know is where all the money made from extracted resources is going?
There is so much debate on this forum about petty expenses but lets figure out what the real balance sheets are.

British Columbia's main natural resources;
lumber,
copper,
coal,
natural gas,
oil,
zinc,
gold,
silver,
nickel,
iron,
and fish


For instance what does this mean?
BC Hydro Fraud?

Gangsters Out Blog: Can Mike Farnworth fix the BC Hydro Fraud?



Like where the fuck is all the money that we extract from coal alone? look at this chart!
Quote:
The twenty five million tonnes of coal dug out of British Columbia each year causes more climate pollution than the national economies of 126 countries.
http://www.vancouverobserver.com/sit...vs-nations.jpg
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Old 06-23-2014, 04:44 PM   #2
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what do you expect from the government? honesty?
even for the research bullshit and running ads to say we have a balanced budget its on taxpayer's dime
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Old 06-23-2014, 05:42 PM   #3
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I just thanked cic... What has this world come to?!

But I completely agree, huge debt, quality of life for the average bc resident is less than what it was 10 yrs ago. Continued sell off of assets and land to the highest international bidder.
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Old 06-23-2014, 05:50 PM   #4
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Old 06-23-2014, 05:59 PM   #5
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Fraser Institute




edit: for MoBettah et al. the FI has been caught lying, misleading, and spinning facts countless times in the past a more serious incident occurred about over a decade ago too iirc due to the blatant lying about the health care system (give ur head a shake)

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Old 06-23-2014, 06:04 PM   #6
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My share is only $13,533? No problem. I'll just put it on this high interest credit card
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Old 06-23-2014, 07:35 PM   #7
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This thread isn't going anywhere. People with no finance background shouldn't even be involved in a discussion like this. These stand-alone figures are NOT the way to measure the health of a province's economy.
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Old 06-23-2014, 08:56 PM   #8
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Old 06-23-2014, 09:57 PM   #9
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This thread isn't going anywhere.
Did you even look at who started this thread?

It was never going anywhere, even if the worlds brightest economists were posting in here...
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Old 06-24-2014, 12:06 AM   #10
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They say each BC resident is on the hook for $13,533.
What do they mean by this? And why the hell would I care?
Can someone please educate me?

Would I be personally be responsible for $13,533 that they owe? Are they gonna start collection against their citizen?
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Old 06-24-2014, 02:19 AM   #11
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Its just a population to debt ratio thing... you'll definitely pay ~10+ folds more in your lifetime as Canadas debt will forever rise and our Canadian currency will keep losing value due to fractional reserve banking practices (inflation).

I found out that the coal exported out of B.C. was worth $5.7 billion at 24 million tons in 2013.
Quote:
India wants to buy a bigger chunk of B.C.’s vast metallurgical coal reserves to feed its growing steel industry, a potential boost to the province’s No. 1 export business, worth $5.7 billion a year.
India eyes B.C.?s coal reserves as it ramps up steel production


British Columbia's main natural resources;
lumber,
copper,
coal, ............. * $6 billion worth in 2014 - extraction costs - shipping = ? profit
natural gas,
oil,
zinc,
gold,
silver,
nickel,
iron,
and fish

I had seen another source stating 2014's forecast to be 26 million tons so the total could be over 6 billion.

-----

If someone wants to start a business to make money, the bank would give you a loan, with interest, to start it up with confidence knowing that you have assets it can seize in case you fail.
Extracting resources is the same where Canada can get a loan from another country, extract its resource, sell it, pay off the loan over time, and continue making profits in the later years. If we look at coal itself, Canada has large reserves so the country that loans its money will have confidence in our assets and will set conditions if it were to fail.
Quote:
British Columbia sits on vast coal reserves of an estimated 13 billion tonnes with several proposed metallurgical coal mines in the environmental assessment process.
But the way our occupied government works is that the Crown Corporation has setup shell companies to contract and extract our resources, basically taking what it wants.
The Crown owns Canada and will do with it what it wants, specially by raising its debt and charging something like 40 billion a year on interest alone.

Who can find the other resource sale estimates?
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Old 06-24-2014, 02:27 AM   #12
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Old 06-24-2014, 06:30 AM   #13
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Quote:
Originally Posted by Timpo View Post
What do they mean by this? And why the hell would I care?
Can someone please educate me?

Would I be personally be responsible for $13,533 that they owe? Are they gonna start collection against their citizen?
Total Debt / Population = Debt per person. They do collect on it and they call that collection process taxes.
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Old 06-24-2014, 07:17 AM   #14
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Total Debt / Population = Debt per person. They do collect on it and they call that collection process taxes.
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Old 06-24-2014, 08:24 AM   #15
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Quote:
Originally Posted by Timpo View Post
What do they mean by this? And why the hell would I care?
Can someone please educate me?

Would I be personally be responsible for $13,533 that they owe? Are they gonna start collection against their citizen?
Are you serious?

How exactly do you think our government works?

You pay, they govern. It's the basis of our entire civilization. Doesn't matter of you are a democracy, communist, facist, or a plain jane dictatorship.

So yes at some point you are going to have to pay that 13,533 dollars. I'd argue that the sooner you pay it the less interest you would pay on it.

I'd like to know how the 13,533 is calculated though is it per adult, or did they use children as well in their calculation?

If it's per adult I think they should just make a special assessment like your strata would and pull a one time amount from each individual. My thought process being its $13,533 now, but over the next 10 years of my life its more like $20000.

After they do that, and they pay off the debt, the first government voted in that runs a deficit should be walked down georgia so we can all throw rocks at them.
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Old 06-24-2014, 11:25 AM   #16
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oh ok but that's only BC government...what about federal? and municipal?
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Old 06-24-2014, 12:24 PM   #17
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oh ok but that's only BC government...what about federal? and municipal?
Different portions of all those weird taxes you pay for literally every single thing you do in this great country of ours go towards all three levels of government.

Pst = provincial sales tax - goes to the province
GST = goods and services tax - goes to federal (kinda, its actually split in a slightly weird manner)

Property taxes = a portion goes towards all three levels if I'm not mistaken.

The list goes on & on.
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Old 06-24-2014, 04:09 PM   #18
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If you look at all the governments around the world, something like 5% make a surplus each year.

If this is a surprise to you, please crawl back under your rock.
If you're hoping we will decrease our debt, please crawl back under your rock.

With all the crap that is being pushed through in BC, the only thing that might have hope in decreasing our debt is to legalize marijuana, and tax is living shit out of it. Because the only thing that could generate enough revenue to balance the budget, would be the government going into the "drug business."

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Old 06-24-2014, 07:10 PM   #19
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CiC, I'll do you a favor so you can learn something before spewing random crap.

http://ge.tt/7Wc011m1/v/0?c


Btw, I hope people are aware of the difference between met coal and coking coal. This thread is pathetic.
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Old 06-24-2014, 07:50 PM   #20
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Quote:
Originally Posted by flagella View Post
CiC, I'll do you a favor so you can learn something before spewing random crap.

DBRS - Province of BC


Btw, I hope people are aware of the difference between met coal and coking coal. This thread is pathetic.
Do you mean met/coking vs thermal coal?

Btw... coal prices have dropped significantly since a few years back
Price slump hits B.C. coal miners - The Globe and Mail
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Old 06-24-2014, 07:53 PM   #21
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Canada Debt Clock :: National Debt of Canada
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Old 06-27-2014, 09:45 PM   #22
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Quote:
Originally Posted by flagella View Post
CiC, I'll do you a favor so you can learn something before spewing random crap.

http://ge.tt/7Wc011m1/v/0?c


Btw, I hope people are aware of the difference between met coal and coking coal. This thread is pathetic.
Ive been watching this great new video explaining how our system works... as described by the video, I have a feeling you have guilt denial.

Also these charts are something to go on, but they are clearly without any detail... like 40% of 45 billion into healthcare? Doctors and hospitals combined should mirror the U.S. system as the third killer of people after heart disease and cancer. Our life expectancy is the same... what great excuse to make citizens think our taxes are benefiting our own good.




What is this 4% GDP from mining and energy... of course when theres a 70% administration fee.


Show us you're not a one hitter quitter... care to explain what BS Im spewing?


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Originally Posted by zetazeta View Post
.......

Btw... coal prices have dropped significantly since a few years back
Price slump hits B.C. coal miners - The Globe and Mail
Look at this, owning the Commonwealth from the City of London lets you manipulate markets from one country to the next. How convenient to minimize industry and jobs here, shift it to Australia and restart again here but with foreign workers as mentioned in the article. Its all about keeping the price up and profits high.

There are billions being made off the provinces resources... and nothing is nationalized for us to know exactly how much is extracted and sold at what price.

This video is key to ones survival (specially for sheeple) and the end times to come for the Americas.

The Greatest Truth Never Told
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Old 06-28-2014, 12:14 AM   #23
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i've been thinking recently...

theoretically...

what if a group of billionaires rich enough to pay off BC's debt completely... all collude and combine their wealth and pay off ALL of BC's debt...

what would the result be? would it be a good thing? or bad? what the fuck would happen? (assuming BC was the only one to do this, and the rest of the world kept going on like they do every other day).
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Old 06-28-2014, 12:46 AM   #24
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The only short term positive thing would be not paying interest... mainly because there is no accountability on the spending so soon after you'd have billions that would exceed the again unaccounted tax money that comes in.
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Old 06-28-2014, 12:51 AM   #25
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in other words, there is no point trying to pay off our debt. lol
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nipples neways...wat is with those fuck'n asians! i mean you would think they've never seen a dentist in their life. are dentists really that rare over there in ricey ricey and? looks like they're star trek ferrengi rejects! fuck'n have broken glass for teeth! goddaymn! and the smell....did a rat crawl in there and shit itself then marinate in its own shit as it decayed?ewwwwwwwwww! i swear...if one of those ferrengi asian girls gave head...when u pull the dick out it looks like it went thru a meat grinder! prolly shaved off a few slices of meat! *shudder*
Greebo i t-boned some guy and killed their baby, it was funny
silvia i have a couple asian guy friends that do very well with the ladies. but guess what, they go to the gym, they dont have long hair, they dont wear orange pants, and they dont play counterstrike. its not the ethnicity that the girls dont like, its the style and personality.
450HP Supra I am about to use your eye sockets as a shoe rack for my nuts. ...something about chinks, j-bodys, I can't quite remember as I was drunk and looking for a girl to punch in the clit. Think of it as a digital urinal, and you are the mint, except, instead of actually smelling mint, you smell like mothballs, rotten kimchee and virginity. I'm about to start drinking heavily now and you better be gone before I get back or I swear to god I will break the internet over my knee and use the pieces to beat you in the deformed skull with, cock muffler.
Iceman-19 If your gf cooks and cleans, good, tell the guy to take a fucking hike. If she doesnt, fuck, that joker can have her. Lifes too short to cook your own meals and do your own laundry, thats what women are for!
http://ho316.tumblr.com
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