UPDATED: February 21, 2025 at 11:11 AM
Palace Place
It does not matter where good ideas come from. Good ideas solve problems. If we take the example of our American neighbours and focus on the core causes of high interest rates, we can take significant actions to make life more affordable for all Canadians.
In a recent interview with Fox News, Elon Musk has said:
“If we address the massive deficit spending, the sort of the waste in the government then we can actually address inflation. So provided the economy grows faster than the money supply, which means (when) you stop the government overspending and the waste and the output of real, useful goods and services exceeds the increase in the money supply, you have no inflation, and you also drop the interest payments that people pay. Because if the government keeps too high. Yes. The reason the interest payments are so high is because the national debt keeps increasing. So the government is competing for to sell debt with, with the private citizens. This drives up the interest rate. So if you have a if you have a if you cut back on the deficit, you actually have an amazing situation for people because you get you get rid of inflation and you drop the interest rates. And that means people’s mortgage payments go down, the credit card payments go down, the car payments go down, the student loans go down, everything their their life becomes more affordable and their standard of living improves.”
These are the core questions that must be asked in Canada, yet no one is talking about them. The media does not ask the questions, and the politicians remain obsessed on woke agendas.
When I had first been elected as President of Palace Place, we took immediate, meaningful actions against wasteful spending. Such collective efforts have led to one of the highest reserve funds in Toronto, past budgets of an unprecedented 4 consecutive years of 0% fee increases, which have since been followed by below inflation increases, numerous energy efficiencies, saving Palace Place in excess of $3-million, well negotiated cable and Internet agreements, proactive maintenance, and a recent property valuation of $1,168 per square foot.
Why can’t our government do this? No one is even talking about it, while we witness over 400 personal bankruptcies per day in this country. It is absolutely mind boggling.
As a longtime Palace Place owner puts it, “When money is available at a cheap rate and more money is printed, the only thing that becomes visible is top-line growth. However, this growth is sustained only until the source of cheap money is exhausted.”
Consider just this single comparison example of overgrown government bureaucracy with our American neighbours:
IRS total employees – 79,000
American population – 342,000,000 (approx)
CRA total employees – 60,000
Canadian population – 39,000,000 (approx)
What will it take for Canada to wake up?
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Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
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E: LDALINDA@DALINDA.NET • TEL: 416-725-7170
Luke Dalinda, Realtor. Royal LePage Real Estate Services Ltd., Brokerage.
View all current and past Palace Place listings for sale here.