When you withdraw money from an RRSP, it is taxed as income. Money withdrawn from an TFSA isn't taxed at all. There is also no forced conversion of your RRSP at 71 with a TFSA.
Regardless, if you know anything about Canadian politics, you would know the Conservatives ie. (Canadian Alliance and PC) would identify less with the Democratic party than the Republicans for example. And conversely, the Liberals and NDP would identify less with the Republicans, in terms of the political spectrum of ideology. It's pretty common understanding, regardless of how either party handles their policy. Anyway, Bye bye Harper. It's time for the Canadian government to come closer to reflecting the popular vote. No better way than a coalition. But it's too bad someone would rather delay the inevitable.
It seems Joab likes to backtrack and bring up obscure references to defend his crumbling position. Joab refers his market call on 11/24, he started this thread on 12/04, the market down day he refers to was 12/01 and the event he cites I couldn't find anything going back past 11/28. Let's break this down:1)Since 11/24 the market has been up 2)The move on 12/01 didn't break 11/24 prices to the downside. 3)On 12/01 pretty much everything went down. So Joab claims the downmove on 12/01 was caused by the Canadian event tanking the markets. I would be inclined to believe him if 1)we did break 11/24 prices, 2)ONLY Canadian markets went down. Sadly for Joab, this wasn't the case. Reading this another away, we would have seen the TSX/loonie gone up on 12/01 if not for this event. More cracks in Joab's argument. He claims we are up 15% since 11/24. Taking the DOW open around 8000 on 11/24 and the DOW close on 12/05 which is 8635, (8635-8000)/8000 = around 7.5%, half of what Joab claims. Also, the call on 11/24 happened PRIOR to the event that he bitches about. Well, going off his logic in the argument I could also say on 7/16/07 I thought the market was going down, it's down now, so I must be right. IF Joab made a bottom call after 12/02 or after, then it would carry more weight, otherwise it's just hindsight bias. Lastly, Joab is so desperate to maintain some credibility he refers to calls he made last year, WHILE the market was still going up after. If he would have made a call on /10/15/07, I would be impressed. And WTF does a call made last year have to do with what happened a few days ago about the market move of a SINGLE day? That and this are mutually exclusive. Joab, I could care less about political views of anyone. Like I said, I thought you were one of the better posters on ET, but you can't see the sky from this hole your in. You retract your 1 asinine point about Canadian politics tanking the market, and I'll back off.
Looks like this guy will be Canada's next PM in the bloodless coup that is underway. What a surprise...he's another neo con supremist who advocates war, torture, and suspension of democracy. If they follow the same script as in USA, France, UK, Pak, and India, the only thing we are missing is "Canada's 9/11". You know, some terror group that is nurtured funded and armed by the likes of CIa or Mossad causes CHAOS an then they ram through anti democratic laws and matrial law. And then endless war in support of Israel. Except our kids have to die for it! And then the controlled media tells us that guys in caves benefit... same old script. http://en.wikipedia.org/wiki/Michael_Ignatieff "Ignatieff has argued that Western democracies may have to resort to "lesser evils" like indefinite detention of suspects, coercive interrogations,[23] targeted assassinations, and pre-emptive wars in order to combat the greater evil of terrorism. He states that as a result, societies should strengthen their democratic institutions to keep these necessary evils from becoming as offensive to freedom and democracy as the threats they are meant to prevent.[24] In the context of this "lesser evil" analysis, Ignatieff discusses whether or not liberal democracies should employ coercive interrogation and torture. The 'Lesser Evil' approach has been criticized by some prominent human rights advocates, like Conor Gearty, for incorporating a problematic form of moral language that can used to legitimize forms of torture.[25"
I think I'm going to TRUST the government to make me all better when I get sick. :eek: Do you realize how asinine this is? I can't even trust the government to fill the pot holes on my street ! The fact that your a health care professional and NOT the patient says all I need to know. People that aren't willing to pay for something as important as their own personal health are fools. You get exactly what you pay for at the end of every day.
There is no need for him to do anything now because he did everything he had to 1 year ago. If you knew anything about the markets and the economy you would also know that a recession is a GOOD thing and expansion will follow. The best thing any government can do during a recession is NOTHING. Let business take care of business. So before you call me a fool I would learn how to think like a man first rather then a breast feeding baby.
Looks like you are getting a little jumpy and jumping to conclusions. "Should the Ignatieff plan prevail, the proposed Liberal-NDP coalition could well be scuttled. Mr. Ignatieff was never an avid supporter of the coalition and had turned against it by Saturday, according to party insiders." I would be very surprised if he ended up our PM in the near future. The Libs are very weak right now. I think the coalition is a farce.
You're confusing the stock market with the economy. The economy cannot act like a stock market and shed prices easily simply because of low demand. Wages are sticky down. People are not rational economic agents. A reduction in aggregate demand will reduce output harder than wages and prices (meaning huge unemployment). Businesses end up laying people off rather than reducing their wages (for obvious reasons). This wreaks havoc on demand even further and will continue a downward spiral. Since the Great depression, governments have economic stabilizers (EI/social security etc) to counteract the downward spiral. Doing nothing is actually a good way to turn a recession into a depression.
Oh really Joab? Post execution statements then showing you made money on your trade calls if your a 'real' trader. You want to prove your macho then man up or STFU. You've already lost this argument with me in the face of everyone reading this thread. Which for you is sad since you have to come onto ET to prove anything to anyone. Last chance Joab to prove any credibility you got. If not, I can get you a new set of kneepads while your down there, you obviously need confirmation from ET members to assure your own insecurities.