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  #1  
Old 03-22-2010, 09:31 AM
soothappens's Avatar
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Quote:
Originally Posted by Zeus View Post
I think it's a great thing, to be honest. But I'm obviously a tad biased.

Yes, that is true. The big banks in Canada also actually kept a profit line during the recession, which was remarkable. US and European banks all reported losses. There are a lot of little differences here that make a big difference overall like mortgages being full recourse loans, not selling out loans to sub-prime borrowers, etc. We have five large banks in particular that control most of the banking in Canada, and during the recession they were able to communicate with each other and keep practices in line. There is also full insurance on mostly all mortgages, which covers the full amount. Although we recently had 40-yr amortization periods, that has been reduced to 35 yrs max and a 5% minimum downpayment is required. The smaller the downpayment on a mortgage, the higher the CMHC insurance premiums to insure the mortgage. I believe that CMHC insurance is mandatory on all mortgages where there is less than a 36% downpayment.

I was surprised to hear that Canadian banks are considered amongst the safest and most stable in the world, I wasn't aware of that before this.

They are continuing to post record profits...it would be nice to see those profits reflected in cheaper banking costs, that's for sure.

How far in debt are you guys to nations like say .....maybe China ? May have a bit to do with it as well .

The mortgage deal is nice makes sense.

How over inflated were the property values ? The property values here in Texas rose only about 2-3 % during the bubble therefore we were able to recover from the housing slump faster. Economy is doing fairly well here.

Lessons learned from the mid 80's housing boom / bust .
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  #2  
Old 03-22-2010, 09:57 AM
Zeus's Avatar
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Quote:
Originally Posted by soothappens View Post
How far in debt are you guys to nations like say .....maybe China ? May have a bit to do with it as well .

The mortgage deal is nice makes sense.

How over inflated were the property values ? The property values here in Texas rose only about 2-3 % during the bubble therefore we were able to recover from the housing slump faster. Economy is doing fairly well here.

Lessons learned from the mid 80's housing boom / bust .
Our current debt-to-GDP ratio is decent among the G10 nations. Currently. We have issues to face to keep it there.

Properties were not that over-inflated, we didn't really have the big boom and bust the US had. There was lots of media hype at the start and lots of talk about recession...but as it happened we kind of looked around and realized we were far more insulated from the effects than we had likely initially thought.

The US was the only G10 nation to not have some form of universal health care. A bill/action like this was necessary, IMO. Hope it works out for the US!
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Last edited by Zeus; 03-22-2010 at 10:04 AM.
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  #3  
Old 03-22-2010, 10:02 AM
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the systematic dismantling of the world's greatest health care system.....
kinda like G.M. (government motors), we now have GHC (government
health care). get ready to go on a waiting list for necessary surgery.
a long waiting list........
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Old 03-22-2010, 10:10 AM
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Originally Posted by HuskyMan View Post
the systematic dismantling of the world's greatest health care system.....
kinda like G.M. (government motors), we now have GHC (government
health care). get ready to go on a waiting list for necessary surgery.
a long waiting list........
^ utter ignorance of what is in the bill
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  #5  
Old 03-22-2010, 10:40 AM
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Originally Posted by JollyRoger View Post
^ utter ignorance of what is in the bill
no, just more socialized medicine, a chicken in every pot. everyone will
get the same medical care. emphasis on "same", everyone except members of the United States congress, that is.

BTW, have you taken a trip to the local library and checked out AM Best financials for the various health care insurers? they make Casino P&Ls look like small change.

all off the backs of Americans spending $700 - $1800 per month on a stack of paper known as a "health insurance policy". and now, they have the distinct advantage of FORCING people to purchase their product. no other
business or industry has the advantage of FORCING people to buy
a particular product or service.
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  #6  
Old 03-22-2010, 11:29 AM
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Originally Posted by HuskyMan View Post
no, just more socialized medicine, a chicken in every pot. everyone will
get the same medical care. emphasis on "same", everyone except members of the United States congress, that is.

BTW, have you taken a trip to the local library and checked out AM Best financials for the various health care insurers? they make Casino P&Ls look like small change.

all off the backs of Americans spending $700 - $1800 per month on a stack of paper known as a "health insurance policy". and now, they have the distinct advantage of FORCING people to purchase their product. no other
business or industry has the advantage of FORCING people to buy
a particular product or service.
So whats your suggestion? status quo?
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  #7  
Old 03-22-2010, 11:45 AM
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Originally Posted by tbomachines View Post
So whats your suggestion? status quo?
get rid of the insurance companies altogether. simply pay a monthly
amount to the local hospital. the hospital agrees to treat you and
your family for anything and everything. if you travel, hospitals
in a foreign state agree to cover you and are reimbursed by the
local hospital group. CUT OUT THE MIDDLE MAN (health care gate keeper AKA insurance companies).

advantages: the local hospitals reduce administrative costs by
at least 90%. paperwork pushers add nothing of value.

disadvantages: the insurance boys will have to go out into this
mean old world and get a real job.
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  #8  
Old 03-22-2010, 10:10 AM
Craig
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Quote:
Originally Posted by HuskyMan View Post
the systematic dismantling of the world's greatest health care system.....
Did someone mess with the french healthcare system (#1 according to the last WHO study)? The US was #37 in that study.
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