Head start

ZIM modified

So 11% of kids in the UK think milk and eggs come from wheat. A scary number of nutbars on this blog believe Nine Eleven was a hoax. And 52% of Millennials are convinced you can use an RRSP to buy a car.

There may be little hope for the first two groups, but we still have time to save the moisters. In fact, it’s a reasonable bet most people have a hazy, sketchy, foggy or nebulous idea what tax shelters are all about. So here are some things to remember, and teach you kids when they ask, “What do I need to know to grow up?”

A TFSA is not a savings account.
Not sure even the finance minister gets this. The tax-free account is for investing money, (hopefully for retirement decades away) not for saving it for a vacation. Stick a wide variety of growthy things in there and never pay tax on the gains. Best, it can pay you constant income in retirement (or unemployment) and the money is never reported as income. No new tax bracket. No pension clawbacks. This is the finest money machine we get, despite being gored in a dumb political move.

They’re not products.
TFSAs and RRSPs are not things. You don’t buy one at the bank. They’re just ways of sheltering stuff from being taxed. So you can open a registered account (that’s what they’re called) at the bank, through an advisor, with an online brokerage, at the credit union or with one of those robots. Then stuff it.

What’s the difference?
Two major points. TFSAs are massively democratic, because everybody gets the same chance to contribute – now $5,500 a year. RRSPs, on the other hand, reward the rich the best. The more you earn, the more you can salt away from tax – up to $25,000 a year. You’re right. T2 got that one wrong. Second, a tax-free account contribution doesn’t get you a tax break but neither are withdrawals taxed. Putting money into RRSPs nets a tax cut up to 50% of the cash invested (that’s elephantine), but withdrawals are taxed according to your income when you withdraw.

Retirement plans aren’t for retirement.
That’s so analog. The best use of RRSPs is for tax-shifting – reducing taxable income in years when you’re doing great, and supplementing your income when things blow up or change. So if you pump money into a plan when working you can reduce the amount sent to Ottawa. Reclaim the money if you get punted, pregnant or paused and enjoy it with less (or no) tax. You have effectively shifted income from a year you don’t need it to one when you do. RRSPs can also be used to buy a house, using the tax refund as part of the down payment, for financing education or a baby. Open up a spousal plan and income-split with your less-taxed squeeze.

Cash not required.
No extra money this month? No sweat. It’s easy to feed either a TFSA or an RRSP by making a ‘contribution in kind.’ Transfer something you already own (like a crappy bank mutual fund, ETFs, brain-dead GICs or the four RBC shares your grandmother gave you) into your registered plan and they count the same as money. All future growth will be tax-free, but past growth may be subject to capital gains tax. Be cool – that’s a minimal charge.

Room for life.
Each year that you work you accumulate new RRSP ‘room’, generally equal to 18% of your wages. Each year you clock over age 18, you get TFSA room. Doesn’t matter if you use it then or not, because all of this potential contribution just keeps adding up. This can be a godsend if your job is terminated. Much of a severance or retirement package can be rolled right into an RRSP tax shelter. Or, as you age, become addicted to this blog and grow embarrassingly wealthy, investments can be moved into your TFSA where all tax is eliminated and income can stream back out – non-reported to the CRA. Better than sex.

Know how you’re hosed.
The greatest tax is levied on what people earn working. Equally penalized is money made by collecting interest (like on a GIC) or rent (that investment condo). Your ‘marginal’ tax rate is the level at which any additional money coming into your hands is siphoned off by government. So if you work for a living and make $100,000 in BC, your marginal rate is 38.3% – which means you’ll pay $38 in tax on each hundred bucks your high-interest savings account generates. But if you own an ETF instead that yields a $100 capital gain, the tax is just $19. Yep, today savers lose twice.

Other salient stuff.
Your spouse can take over your RRSP when you kick, but only if you name him/her as the ‘beneficiary.’ Kids, dogs and friends are not so favoured. The account becomes taxable. A TFSA can be taken over by a spouse if he/she has been named as ‘successor holder’, which means it gets folded into their existing plan, becoming their property. In contrast, the beneficiary of a TFSA (anybody else) gets the cash or assets in the account, but the days of tax-free growth end.

Finally, interest on money borrowed to contribute to a registered account is not tax-deductible. But loans for non-registered (or taxable) accounts give you that break. An RRSP loan can make sense if the tax refund is used to pay the loan down. TFSAs loans just suck. Ask your mom for the money instead, and tell her you’re buying a condo. She’ll be so proud.

237 comments ↓

#1 DontHaveaMilinVan on 02.03.16 at 6:14 pm

FIRST?!

#2 Rob Whistler on 02.03.16 at 6:15 pm

First!

#3 TurnerNation on 02.03.16 at 6:16 pm

US markets getting er done today boys. Great entry point imo. Oil’s well, ends well.

#4 Boyd Griffin on 02.03.16 at 6:19 pm

Furst!

#5 Jeff Gauld on 02.03.16 at 6:19 pm

Second!

#6 JRH on 02.03.16 at 6:20 pm

How does one tell if an ETF pays dividends or interest, such as ZPR…..Thanks

#7 Victoria Real Estate Update on 02.03.16 at 6:20 pm

HOUSE PUMPING (2010)

Some of you may recall the house pumping the local media did before house prices inevitably began to fall in Victoria in 2010.

Victorians were given the impression that house prices would continue to rise and that those thinking of buying had better buy now or be priced out.

THEN THIS HAPPENED

. . . . . . . . . . . .House Prices. . . . . . . . . . . . . .
. .Percent Above/Below March 2010 Price Level. .
. . . . . . . x = Toronto, * = Oak Bay. . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
+25%. . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . x. . .
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+20% . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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+15%. . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . .x . . . . . . . . . . . . .
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+10% . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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+ 5%. . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
….0%. . . x*. . . . . . . . . . . . . . . . . . . . . . . .
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– 5%. . . . . . . . . . . . . . . . *. . . . . . . . . . . . .
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-10%. . . . . . . . . . . . . . . . . . . . . . . . . *. . . .
—————————————————————————–
. . . . . . March . . . . . . .March. . . . . .January. .
. . . . . . .2010. . . . . . .. 2012. . . . . . .2014. . .

(sources: Victoria’s R/E board, Toronto’s R/E board)

We can safely assume that Oak Bay’s 10.6% price plunge was actually more than that since the information comes from the Victoria board’s frankenumber price index.

VICTORIA’S PRICE SLIDE WAS AGAINST THE TREND OF ALL OTHER CANADIAN MARKETS

Toronto’s 23.3% price increase followed the trend of other Canadian cities which also posted strong price gains over the same period of time as 5-year fixed mortgage rates fell. Victoria’s weak market simply failed to do what it should have done.

BUYERS LOST CONFIDENCE

Buyers suddenly lost confidence in Victoria’s housing market in 2010 and prices began to fall as a result.

Victorians should have learned from past experiences that this can happen at any time.

MANY VICTORIA FAMILIES MADE BAD BUYING DECISIONS IN 2010 BASED ON HOUSE PUMPING “NEWS” REPORTS

The above chart makes it clear that many families would have experienced significant financial problems as a result of buying at the peak in 2010 and then selling after prices across Greater Victoria had fallen 12 to 15%.

MORE HOUSE PUMPING FROM THE LOCAL MEDIA

There has been a lot of it lately. Do you really expect them to predict lower prices? Their point of view (prices can only go higher) is probably no less biased than that of the housing industry itself.

SELLERS AND BUYERS IN VICTORIA AGREE THAT PRICES ARE TOO HIGH

Fewer than normal listings shows that mortgage holders and homeowners think that prices are too high and many of them refuse to list and sell their properties because they refuse to buy another property that they think is overpriced. This clearly points to much lower prices in the future.

Sales of single family homes in 2015 were below Victoria’s long-term average, despite record-low mortgage rates. With rates this low, we should have seen significantly more (twice as many?) SFH sales as we did in 2015. Buyers know prices are too high and many are happily renting (risk-free and for less than “owning“) until after Victoria’s major price correction has taken prices much lower.

MORTGAGE RATES HAVE BEGUN MOVING HIGHER / DOWN PAYMENTS TO INCREASE THIS MONTH

Canadian 5-year fixed mortgage rates will be north of 5% within 2 to 3 years.

The net effect of higher and higher rates will be lower and lower prices. Higher down payments will also push prices down.

Has the local media released an interview with an expert to explain to locals that higher rates and higher down payments will bring lower house prices?

Probably not.

#8 Garth is my enabler on 02.03.16 at 6:20 pm

Thanks!
I asked for this …

Garth how do we mortals trade and follow your train..
in hope of catching it..

Orange guy short does not pay to WebBroker.
Quest trade is killer for ETFs
Qtrade too intense
Virtual broker is second on the list…

now for us poor mortals
who read your book and follow your rule of investing

which on line broker is the best choice…

thanks you.

#9 pathcontrolmonk on 02.03.16 at 6:22 pm

Not sure about wheat, but Trudeau Jr. is made of milk and eggs.

#10 Fred on 02.03.16 at 6:22 pm

I’m slow today but how would the RRSP loan work?

#11 Garth is my enabler on 02.03.16 at 6:23 pm

Forgot to put link:

http://beta.images.theglobeandmail.com/static/ROB/brokerage-survey-2014/brokerage-survey-flowchart.png

and story is here:

http://www.theglobeandmail.com/globe-investor/online-broker-rankings/2014-online-broker-rankings/article21783584/

#12 waiting on the westcoast on 02.03.16 at 6:23 pm

“So 11% of kids in the UK think milk and eggs come from wheat.”

Well – indirectly they do…

“A scary number of nutbars on this blog believe Nine Eleven was a hoax.”

Nine Eleven was a hoax… unfortunately, 9/11 was not.

“And 52% of Millennials are convinced you can use an RRSP to buy a car.”

And worse – they think there parents will help pay the insurance.

I guess HK isn’t different…

http://www.bloomberg.com/news/articles/2016-02-02/hong-kong-property-stock-gloom-seen-deepening-in-options-market

#13 rwm on 02.03.16 at 6:23 pm

How does one recoup TFSA room in the event of losses on an investment? Example: $40K invested, investment loses $20K. If a person wants to fill the TFSA back up to $40K, what must they do?

Gains or losses are irrelevant to your allowed contribution room. You can only contribute to that level, but gains (or losses) on that money are unlimited. — Garth

#14 ROCK BEATS PAPER on 02.03.16 at 6:24 pm

2001 buy tech stocks. 2009 buy bank stocks. 2016 buy Maple.

The central banks will finish their extra ordinary measures, not good for paper.

#15 zee on 02.03.16 at 6:25 pm

Hey Garth

TREB came out with some solid numbers for the month of January…..rates are again appear to be going lower so here we go again for 2016, up and to the right.

Canadian rates are not declining. — Garth

#16 NoName on 02.03.16 at 6:27 pm

Elvis is a LIVE !

#17 Freedom First on 02.03.16 at 6:33 pm

Liquid, diversified, balanced and re-balanced, cash, cash flow, income streams, TFSA’s, RRSP’s, and zero debt. Or, slavery?

I always put my Freedom First. I rock!

#18 Brian Ripley on 02.03.16 at 6:35 pm

“brain-dead GICs”

I updated my interest rate charts with the January data: http://www.chpc.biz/

Bank of Canada bond yields (and “real” yields) dropped again. The overlay of the TSX Real Estate Index is also heading down nominally along with its Y/Y momentum.

#19 A Canadian Abroad on 02.03.16 at 6:36 pm

Don’t get too comfortable yet.

Canadian dollar to resume losing streak in months ahead: Reuters poll

http://ca.reuters.com/article/businessNews/idCAKCN0VC1Q8&cid=52779041060089&ei=n4qyVoHNEKWUiQKD_Li4Cw&usg=AFQjCNHSLuKE1_F_YtE0Mk-UCNnpEhACgQ.

Could the USDCAD at 1.38 be a buying opportunity?

#20 rwm on 02.03.16 at 6:36 pm

#13 rwm on 02.03.16 at 6:23 pm
How does one recoup TFSA room in the event of losses on an investment? Example: $40K invested, investment loses $20K. If a person wants to fill the TFSA back up to $40K, what must they do?

Gains or losses are irrelevant to your allowed contribution room. You can only contribute to that level, but gains (or losses) on that money are unlimited. — Garth

So basically if you sustain losses too bad, you already used the contribution room? Can’t a person sell the bad investment, withdrawal the money left and on January 1st the following year the full TFSA contribution room is once again available?

#21 Randy on 02.03.16 at 6:40 pm

I bought a Cobra GT with my RRSP..

#22 rk usa on 02.03.16 at 6:40 pm

this is crazy

http://v3.torontomls.net/Live/Pages/Public/Link.aspx?Key=507514c2dcfe4307b26b1f178d747e38&App=TREB

562 Roselawn Ave
Toronto Ontario M5N 1K4
Sold:$1,406,000
List:$1,099,000

#23 Mark on 02.03.16 at 6:42 pm

“How does one tell if an ETF pays dividends or interest, such as ZPR…..Thanks”

Usually there is some language in the prospectus as to the nature of the portfolio, and the probable nature of the distributions. Some funds, by their very nature, or on account of market conditions, will have different distributions than others.

Its a pretty good guess that an index, like the TSX60, which experiences minimal turnover and mostly has constituents that pay out “Eligible” dividends, will, itself, as the benchmark index of a fund, mostly pay out eligible dividends. Likewise, an ETF of Canadian preferred shares will mostly be paying eligible dividends from preferred shares. Bond funds are typically heavily interest income, although there are some capital gains in a falling rate environment. Foreign funds generally are mostly taxable income with a foreign tax credit flowed-through. And currency hedged funds tend to have returns comprised of ‘income’ as futures contracts are often taxed on an income, not a capital basis.

Most fund sponsors, on their websites, offer information on past distributions. You can also look into the audited financial reports to determine what sort of carry-forwards they have available (as mutual fund trusts are not allowed to ‘flow-through’ capital losses generally, but they can retain them on their books for future application against capital gains).

which on line broker is the best choice…

I personally use Interactive Brokers, *but* if you really are worrying a lot about the difference between $10 commissions and $1 commissions, there is a significant likelihood that one is overly fixated on the execution details (ie: saving a few pennies), and not paying enough attention to overall strategy. Its entirely possible, realistic, and perfectly reasonable to implement contributions and rebalancing of the sort of portfolio that Garth recommends to his clients, on a commission spend of $100-$200 per year with any of the Canadian ‘discount’ brokers, and, at best, maybe 5-10 minutes of attention every few months. This isn’t the old days where you’d have to make an appointment to see someone down at Richardson Greenshields (or another full-service broker, because there were no ‘discount’ brokers), and be dinged $200-$300 a transaction even to participate!

I sort of liken the whole “what’s the best broker” to the sort of question that people ask when buying golf clubs, or cameras. Its not the golf clubs or the camera that determines one’s returns. Its the hands in which they’re used, and the skill/temperament of the individual.

#24 Smartalox on 02.03.16 at 6:43 pm

Two points to add:

1) If you budget your spending and know in advance that you can afford to make a certain amount of RRSP contributions over and above what you make through your employer, you can download form T1213 from the revenue Canada website, fill it out and send it to CRA to have the amount of tax they deduct from your paycheque REDUCED at source, which leaves more cash in your pocket, and less for the tax man, without having to wait to get your tax refund in April.

Also works for fixed costs like child care, too, but only for the lower-earning parent.

2) Question for Garth re: spousal RRSPs. If my spouse has their own RRSP plan, can I contribute directly to their RRSP plan, or do I have to open another one in their name? Also, whose RRSP contribution limit limits the amount that can be contributed?

Thanks!

You can contribute to a spousal plan up to your own limit, claiming the deduction from your income. After three years, the money belongs to the spouse. Withdraw sooner and you get nailed for the taxable income. — Garth

#25 April. on 02.03.16 at 6:46 pm

Thank you.

#26 Get back Loretta on 02.03.16 at 6:50 pm

If all grade 12 classes had “Garthonomics 101” as a mandatory course, this country would be far better off in 20 or 30 years.

#27 rk usa on 02.03.16 at 6:51 pm

more crazy

46 Chelford Rd
Toronto Ontario M3B2E5
Sold:$2,411,888
List:$1,888,800

14 Battenberg Ave
Toronto Ontario M4L1J8
Sold:$750,000
List:$589,000

2 Heatherington Dr
Toronto Ontario M1T1N2
Sold:$775,000
List:$600,000

18 Aneta Circ
Toronto Ontario M2M3J2
Sold:$1,685,000
List:$1,288,000

#28 broader mind on 02.03.16 at 6:52 pm

A word of caution to those who try to collect dividend assets for better tax treatment via preferred shares. Our government will at all cost protect the present housing bubble in order to protect the tax revenues collected from real estate investors at the expense of those seeking dividend income from preferred shares. You lose one way or the other.

False. — Garth

#29 tundra pete on 02.03.16 at 6:52 pm

Nine-eleven definitely happened. We all saw those planes fly into those towers. It will always be a mystery as to what really happened, who was involved, and so on. You can go on the internet and check it out,it’s all there.

Many issues are unexplained, been covered up, hidden or denied. One strange instance does jump out though. That is the tower 7 that was demolished shortly after the twin towers fell down. Clearly it was demolished as all the video of it shows. Demolition of that size of building takes months to prepare. It simply did not fall down from planes hitting the twin towers blocks away.

Some theories suggest that it was because the Pentagon finance records were kept there and the following day it was disclosed that billions of dollars were missing from it’s budget. Maybe it did just fall down. Certainly makes one wonder what really happened.

#30 Rick on 02.03.16 at 6:53 pm

Ask your mom for the money instead, and tell her you’re buying a condo. She’ll be so proud.

Best laugh, I’ve had all day. Thanks Garth.

Hi Ryan:)

#31 LTL_FTC on 02.03.16 at 6:53 pm

Hi Garth – Serious question…

If I do withdraw money from my RSP in a bad year does the amount go to re-increase my available unused RSP room as reported back to me on my notice of assessment, or is it gone forever?

Gone. — Garth

#32 Goofy 2 Shoes on 02.03.16 at 6:53 pm

Look at any social media these days and see the ridiculous things people of all kinds believe are true.

#33 joe on 02.03.16 at 6:54 pm

How you can talk to canadian kids if their idol is a “Justin”
Bieber….and his tattoo body……

and the other “Justin” said not long ago…that

“budget will balance itself”……

what do you expect from iphone generation…..
they now better…

#34 Yabba dabba do on 02.03.16 at 6:55 pm

Or, as you age, become addicted to this blog and grow embarrassingly wealthy, investments can be moved into your TFSA where all tax is eliminated and income can stream back out – non-reported to the CRA. Better than sex.

check, check,check and the last one really?

#35 kommykim on 02.03.16 at 7:00 pm

RE:

#6 JRH on 02.03.16 at 6:20 pm
How does one tell if an ETF pays dividends or interest, such as ZPR…..Thanks:

Google it and go to the ETF provider’s site:
http://www.etfs.bmo.com/bmo-etfs/glance?fundId=92496
All the info you need is there. If you look under the “distribution” tab, at a previous tax year like 2014, you can see that it not only returned dividends but also provided a little bit of ROC (Return of Capital) which effects it’s ACB in a taxable account.

#36 Canmex on 02.03.16 at 7:03 pm

Two hundred and sixtyfirst!
How dumb (sorry; DUM) do you have to be to play this stupid (sorry again; STOOPID) game. Maybe it helps if you don’t (darn it, I mean DOANT) have anything interesting to say.

#37 Fakeologist on 02.03.16 at 7:11 pm

Please count me as a fan of yours and a 9/11 nutbar!

What will happen first? Toronto real estate collapsing or a majority of people realising that the media is used to lie to them on a daily basis, including major events that they saw on TV?

#38 common sense on 02.03.16 at 7:13 pm

So today Dudley opens his yap and stocks soar…

What a freakin joke and shit show.

Nothing’s improved yet everything is up except Nasdaq.

Who speaks up the markets Thursday?

Any guesses?

#39 Mark on 02.03.16 at 7:15 pm

“Our government will at all cost protect the present housing bubble in order to protect the tax revenues collected from real estate investors at the expense of those seeking dividend income from preferred shares”

Pumping an asset class that is clearly past its peak, and is now in overcapacity in the Canadian economy will do absolutely nothing but weaken government tax revenue. As rents will deflate and capital gains tax collection from the housing speculators will collapse.

If anything, the government would most likely like desperately to inflate an equity bubble. Equity bubbles tend to put lots of people to work at healthy salaries, speculators earn a lot of taxable income on account of trading stocks, and capital gains can be shaken out of long-term holders who sell into the overvaluation.

Whether the present government will get its way is anyone’s guess. However, the vibrance of the late 1990s in equity-bubble-induced employment and capital gains tax revenue certainly helped Chretien/Martin balance the budget even when interest rates were considerably higher than what Harper/Flaherty had to deal with.

#40 common sense on 02.03.16 at 7:15 pm

#26 Loretta

Great idea but far too logical for someone to teach sound investing principles to students..

Who could they rip off if everyone was educated?

#41 joe on 02.03.16 at 7:16 pm

Garth ….Looks like everyone buying in Toronto and Vancouver are betting for huge inflation….!!!!! coming

#42 cramar on 02.03.16 at 7:16 pm

The world’s best economist:

http://www.counterpunch.org/2016/02/03/why-michael-hudson-is-the-worlds-best-economist/

It looks like his thesis is that the financial system enslaves common citizens through debt. He gets no argument from me on that.

“As mortgage debt service rises, more of household income and more of the rental value of real estate are paid to the financial sector. When the imbalance becomes too large, the bubble bursts.”

#43 That guy on 02.03.16 at 7:25 pm

“Better than sex”.

Garth: that is so very very sad and if true I feel very very sorry for you.

You have no idea. — Garth

#44 Terry Shazziah on 02.03.16 at 7:28 pm

Dividend yields in the 3.5% to 5.5% range seem to be plentiful from banks to Insurance companies etc. these days.

Why are they so high compared to bond yields and GIC’s. Doesn’t this mean that they are risky? Most fixed income investments are in the 3% to 4% range.

Something does not feel right here.

Banks have never suspended or even cut a dividend. — Garth

#45 gut check on 02.03.16 at 7:32 pm

Lowe’s is buying Rona?

bummer.
it’s killing me to watch this country circle the drain

#46 Cdn Mom on 02.03.16 at 7:32 pm

Garth, I hope this is an allowable use of your comments section.

I would like to ask all readers to please consider signing the petition linked below. My Ontario MPP is sending this petition to the federal government in an attempt to save current Canadian jobs in the steel sector. The petition is requesting changes in regulation and enforcement of Canadian anti-dumping policy.

This affects both my household, and my city. I would very much appreciate everyone’s consideration. Thank you, and thank you Garth.

http://www.fairtradeforsteel.ca

#47 Unhinged Loon on 02.03.16 at 7:34 pm

JET FUEL CAN’T MELT STEEL BEAMS PEOPLE…

Kid on Youtube debunked the findings of the entire 9-11 commission.

#48 down and out on 02.03.16 at 7:39 pm

WOW,what a education your column is today,that is what is called a real life lesson which should be taught to all especially and I am being serious here, graduating high school ,college seniors etc. Also you clued me in what “successor holder’ means on our TFSA statements and I bet I am not the only one.Thanks

#49 Nobody on 02.03.16 at 7:40 pm

Can people please sign this petition to stop Canadian oil being dumped on the world market at less than the cost to produce it.
Signed King Salman

#50 Nobody on 02.03.16 at 7:42 pm

@Unhinged Loon
Jet fuel can’t but what about the tanks of mind-control chemtrails fitted to the planes? What temperature do they burn at?

ps I prefer a Canadian compromise conspiracy. One tower was blown up the CIA at the same time as the other was hit by a terrorist jet.

#51 NoFool on 02.03.16 at 7:43 pm

A scary number of nutbars on this blog believe Nine Eleven was a hoax.

Actually, you’d have a hard time finding people who think its a hoax. It happened alright!

But two planes flew into two buildings, and somehow *three* buildings came down. And all three buildings came down in ways that don’t make sense from an engineering perspective, ie: freefall acceleration. To dismiss this as some lunacy is to drink the kool-aid someone is feeding us.

The passengers with box cutters are the modern day Lee Harvey Oswalds, patsies. Recall LHO was tied to the red scare of the day!

I’m mindful of only posting comments on the topic of the post of the day – and this indeed is! :)

#52 rk usa on 02.03.16 at 7:45 pm

David Ley (2015): Global China and the making of Vancouver’s residential property market, International Journal of Housing Policy, DOI:10.1080/14616718.2015.1119776

The abstract for the article explains how this entire housing fiasco was caused by Canadian politicians at all levels of government (federal, provincial, regional, municipal).

Here’s the intro: “The background political economy included the attempt by Canadian governments to reboot a troubled regional economy through an infusion of activity from the growth region of Asia Pacific. An important investment tool was a Business Immigration Programme (BIP), which welcomed capital and invited capitalists to transfer their entrepreneurial skills to Canada. The BIP was very popular in Greater China, attracting wealth migration to Vancouver from Hong Kong and Taiwan in the 1980s and 1990s, and from Mainland China since 2000. An intricate trans-Pacific real estate market developed, with off-plan sales and offshore marketing of Vancouver property in Asia Pacific, and sales to wealthy BIP migrants at or before their arrival in Canada. House prices have risen rapidly and the detached housing market is now unaffordable to most Vancouver residents. Despite public discontent about the likely role of investors in boosting prices, provincial and local governments, who value the revenues of high property prices and BIP fees, have shown little desire to intervene.”

#53 Retired Boomer WI on 02.03.16 at 7:46 pm

BIG fan of your investing wisdom, also believe 9/11 was a “False Flag” that makes me a NutBar, so be it.

Finally gotten on my buy order WFC filled when the stock dipped to that level. We shall see, but I like the dividend.

Finally got the snow dumped yesterday cleared out. 2nd decent snow dump of the year. Mild winter here thus far.
After the warmest year on record, it sort of follows…
Personal gas consumption down YoY that’s good for us all.
It’s the small things, too…

#54 Millennial Realist on 02.03.16 at 7:48 pm

“TFSAs are massively democratic, because everybody gets the same chance to contribute – now $5,500 a year. RRSPs, on the other hand, reward the rich the best.”

Nice spin, Garth, but the statement is quite disingenuous and lacking context, as are most such measures that suit the one percent, of course.

Getting the same “chance” to contribute is a mere theoretical possibility for most Canadians – it means nothing to them when the evidence shows most just don’t have the cash, but means quite a bit to the already wealthier who do. Bird in the hand vs. two in the bush etc….

RRSPs on the other hand actually do reward all, and quickly, through a tax reduction that is immediate. People are also smart enough to accept that the more you earn the more you can put in, and also that proceeds are also progressively taxed in retirement, another measure of tax fairness in our system.

You, on the other hand, sound like you’re trying to be a populist and conveniently point out that the despised wealthier who earn more can deduct more as if this is a unacceptable shortfall of the RRSP – yet almost everything else you say praises similar investment advantages offered mostly to the wealthy.

Which is it? Wealthy good or wealthy bad? Or are you just spinning really fast here and changing the targets, hoping people won’t notice? (And impressively – don’t get dizzy or you’ll barf and smell like the conspiracy nuts on here!)

And of course, the context is not mentioned. Do you refer to people who are able to contribute to TFSAs in addition to RRSPS (available to mostly wealthier individuals as you yourself have shown and the stats support) or do you compare the two as exclusive options, knowing that far too many of us can only afford to invest in one of these, often only partially?

Or perhaps you want to say everyone should do both, and heap judgmental blame on those who do not?

Whichever it is, your statement is complete b.s.

Not be ad hominem about it, it does not originate with you, but is long-standing strategy of the neo-con nonsense we’ve been force fed for way too long.

Thanks again for your forum here Garth.

But spin is spin.

My statement is 100% correct. Suck it up. — Garth

#55 Terry Shazziah on 02.03.16 at 7:51 pm

What about falling market values. This can wipe out all the dividends collected and dividends reinvested.

Also, having all Canadian bank stocks is not too concentrated? Are Canadian bank stocks not fallible?

There are many U.S. banks and other financials, companies that have still not recovered.

Wal-Mart is a current of a major blue chip stock example as it was 69.13 U.S. in 2000 but is only 66.67 U.S. today. It currently has a current dividend yield of 2.96%.

#56 ed on 02.03.16 at 7:52 pm

RE “A scary number of nutbars on this blog believe Nine Eleven was a hoax.”

Even scarier is the percentage of nutbars on this blog…

#57 Freddy Havenmach on 02.03.16 at 7:52 pm

DELETED

#58 acdel on 02.03.16 at 7:53 pm

Can someone explain to me how trade is done within a TFSA?
I have read many stories where people are buying low/selling high and have not to pay tax as long as they have enough room in their TFSA to cover the profits. Can you actually set up a trading account within a TFSA account or does one strictly transfer the profits from a brokerage account into a TFSA?

#59 Random on 02.03.16 at 7:55 pm

Re: #14
Too early to buy Cdn stuff. If Garth is right this time, and Cdn RE market hits turbulence later this year, RY.TO, CPD.TO et al will be a much better deal.

#60 broader mind on 02.03.16 at 8:01 pm

#39 Marc/Garth The protection of real estate wealth by our government is a simplified version of a much larger problem. The purpose extends to saving CMHC and most of our banks given the likely flood of mortgage defaults in the event interest rates actually increased.Add the unhappy electorate … There’s no way out of this mess.

The banks have minimal and contained risk. CMHC has the government backing it. Worry about things that might actually happen. — Garth

#61 Smoking Man on 02.03.16 at 8:03 pm

So 11% of kids in the UK think milk and eggs come from wheat. A scary number of nutbars on this blog believe Nine Eleven was a hoax. And 52% of Millennials are convinced you can use an RRSP to buy a car.
……………

Sign me up as a nut bar. However the cauldron.
Is it Me or Smoking Man?

Posting under the anonymity of a Pseudonyms one tends says it like they see it.

Now if where to post under my real name my posts would be unrecognizable to all the blog dogs.

They would go something like this.

On LGBT “I had so much fun at gay pride bringing my kids and grand kids next year. We need to teach tolerance to our grand daughter, a few naked men, its ok. I love what Wynne is doing for diversity and social justice here in Ontario, and she is well justified to eat the rich. We need to pay our fair share”

On 911 “Those conspiracy theorist should be rounded up and sent to re-education camps. How does one get so brain washed to actually believe 911 was an inside job. Governments are honest, they would never kill their own people to rapidly advance a foreign policy agenda. What rocks do these nut bars live under.”

On Climate Change ” Those knuckle dragging deniers, probably all rough neck high school drop outs, how can anyone in their right mind question a 97% consensus among scientists. all the ice has melted in the north pole, there is only 5 polar bears left. Deniers should all be jailed or even killed, enemies of the planet.”

So the cauldron, who is the insane one.

Me, or The Smoking Man?

#62 ROCK BEATS PAPER on 02.03.16 at 8:06 pm

Garth,

The bond market knows what you will not acknowledge, which is that there will likely be no more rate hikes in the US this year.

That is important to Canadians because it directly affects our dollar, which soared today on the back of FED head Dudley;

“New York Fed President William C. Dudley said in an interview with Market News International that policy makers are “acknowledging that things have happened in financial markets and in the flow of the economic data that may be in the process of altering the outlook for growth and the risk to the outlook for growth going forward.”

The dollar rose with oil. Dudley was a non-event. — Garth

#63 Smoking Man on 02.03.16 at 8:11 pm

Ah damn did it again, re my last post.

Sorry had my language settings set to Nicotonian english, had to send an email to the mother ship, forgot to set it back to US English.

Translation: Cauldron in Nectonian is Conundrum in english.

#64 For those about to flop... on 02.03.16 at 8:13 pm

So there was a bit of Clint Eastwood action at work today.No not the Dirty Harry type gunslinging action ,the “hey kid …get off my lawn”
The client of the 5 million dollar house I’m working on was talking to another suit in the middle of the footpath.So instead of barging between them ,out of courtesy I cut across the lawn ,this turned out to be a no,no.
When I got to work today he had phoned the contractor and told him I cut through the garden and he didn’t like it.
I now sit waiting to be called up before the barbaric culture commission to see if I did in fact commit a barbaric crime of walking on his crow chewed up lawn.
I will seek the finest lawn lawyer in the land and if in fact he is busy I will send a SOS to a washed up lawyer in Fort Mac.
I believe I am allowed to take 3 character witnesses and I have chosen ” Common Sense ,Broke Dick and my secret weapon if there is a female judge on duty that day,Freedom First will work his magic on her for sure.
If I have to represent myself my defence is crystal clear.
“Your honour ,who are you going to believe myself a fine young debt free individual …or this guy who just blew 5 million dollars on a house.
I rest my case….

M41BC

#65 acdel on 02.03.16 at 8:15 pm

#42 cramar
The world’s best economist:

http://www.counterpunch.org/2016/02/03/why-michael-hudson-is-the-worlds-best-economist/
——————————————————————
Very interesting! It is amazing that we have been so beaten down as a society that most of us no longer blink at this outrage!

#66 ROCK BEATS PAPER on 02.03.16 at 8:16 pm

“The dollar rose with oil. Dudley was a non-event. — Garth”

That is non-sense. The dollar fell against the Euro and the Yen (no oil there). It is actually the reverse, which is that oil rose because the US$ fell.

And so the C$ rose with oil. As stated. — Garth

#67 Drill Baby Drill on 02.03.16 at 8:20 pm

#26 Loretta

You are 100% correct. This is an idea that is long past due and must be implemented.
Finding the teachers (instructors) will be a challenge since most are of the commie pinko variety.

#68 Drill Baby Drill on 02.03.16 at 8:22 pm

The US markets are now realizing that the high US dollar is an impediment to growth it will be interesting to see how this plays out as the world rushes to the USD for safety.

#69 acdel on 02.03.16 at 8:22 pm

#49 ed
Even scarier is the percentage of nutbars on this blog…
——————————————————————-
Relax, lighten up a bit, nutbars make the world go round, just ask anybody in the political world, the world in ran by them.

#70 common sense on 02.03.16 at 8:22 pm

Just curious…

Why did oil jump today?

Oversold? Great value? Supply issues? Lower chance of US rate hike?

My guess is the Fed knows the strong USD is hurting them and any more increases would only hurt more. Thus dollar falls, oil price increases.

Thoughts? Canada, Frackers and US Banks saved?

#71 rk usa on 02.03.16 at 8:26 pm

he U.S. dollar plunged Wednesday by the most since the U.S. Federal Reserve announced the start of its Treasury bond-buying program seven years ago, as signs of a slowing U.S. economy helped derail bets on diverging policies between global central banks.

so much for raising rates this year

they waited too long, now a recession looms and no room to manouver

#72 Smoking Man on 02.03.16 at 8:26 pm

#37 Fakeologist on 02.03.16 at 7:11 pm
Please count me as a fan of yours and a 9/11 nutbar!

What will happen first? Toronto real estate collapsing or a majority of people realising that the media is used to lie to them on a daily basis, including major events that they saw on TV?
…………….

Speaking of TV, for two days now the vetted and anointed candidate was all over the news in the USA,

Rubio wins Iowa, Trump lost… He’s a loser.

If you want to make America Great Again, vote for whoever MSM hates.

#73 SWL1976 on 02.03.16 at 8:27 pm

Nine eleven wasn’t a hoax, but it was an inside job.

And that’s a fact

Look it up, not hard to find or understand

#74 rk usa on 02.03.16 at 8:29 pm

Asian shares rebounded on Thursday as speculation the U.S. Federal Reserve might opt to not raise interest rates at all this year hammered the dollar and sparked a huge rally in oil prices.

By some measures the U.S. currency suffered its largest one-day percentage drop outside of the crises of 1998 and 2008, symptomatic of just how crowded bullish positions had been.

The sudden reversal provided a much-needed boost to beleaguered commodities, sending oil up no less than 8 per cent, and easing pressure on energy shares and risk appetite.

looks like the only thing going up this year is Canadian real estate

again

#75 Smoking Man on 02.03.16 at 8:30 pm

#66 ROCK BEATS PAPER on 02.03.16 at 8:16 pm
“The dollar rose with oil. Dudley was a non-event. — Garth”

That is non-sense. The dollar fell against the Euro and the Yen (no oil there). It is actually the reverse, which is that oil rose because the US$ fell.

And so the C$ rose with oil. As stated. — Garth
……………..

Well I’m glad you guys have it figured out because I’m stumped with what happened today. Never seen anything like it.

Huge oil inventory, and oil goes up, and the USDCAD drops like a rock. Cost me 300k

Sidelines for a while till I can figure out what the hell is going on.

#76 Mark on 02.03.16 at 8:31 pm

“JET FUEL CAN’T MELT STEEL BEAMS PEOPLE…”

Doesn’t need to ‘melt’ steel. Just needs to reduce its yield strength sufficiently. Anyone with any iota of scientific/engineering knowledge knows that in steel there is a continuum of changes in material properties in steel as it is heated.

” The purpose extends to saving CMHC and most of our banks given the likely flood of mortgage defaults in the event interest rates actually increased.Add the unhappy electorate … There’s no way out of this mess.”

There’s no doubt, at least in my mind, that a probable acceleration of declines in Canadian RE will accelerate claims against the CMHC and deplete its capital base.

But what’s easier — recovering from the RE bubble with the strength of other inversely correlated asset classes showing strength? Or just having the economy as one big smoking hole in the ground?

At least if other asset classes are allowed to pick up strength, there will be people with money available to acquire distressed RE assets. But if the government bets the farm entirely on RE, well, that’s a much more difficult hole to climb out of.

The strategy, started by Flaherty, and continued by the current government, of slowly winding down the CMHC’s participation in the market has proven effective thus far. RE has dropped a few percent a year since 2013 pretty much across Canada on comparable units (Toronto/Vancouver gains being largely illusory on account of a dramatic shift to the sales mix). Inflation and real wage growth has contributed a few more percent cumulatively. In an ideal world, this sort of behaviour would continue another 10-20 years until prices and incomes come into some sort of normal long-term equilibrium. I don’t believe it will work out perfectly, but given how much of a monster the CMHC was allowed to become on account of previous Liberal and Tory mismanagement, its probably not going to turn out all that badly from a macro point of view.

This doesn’t mean that individuals won’t be hurt — those who are overexposed will be. But there will definitely be winners, particularly those who invested in inversely correlated stuff, or, at the very least, stuck with the sort of portfolio balance (including RE) advocated by the likes of Garth instead of going “all-in”.

#77 james on 02.03.16 at 8:31 pm

Yep, there are a lot of conspiracy nuts on here, for sure.

I blame the zika virus.

#78 acdel on 02.03.16 at 8:34 pm

#70 common sense
Just curious…

Why did oil jump today?

Oversold? Great value? Supply issues? Lower chance of US rate hike?

My guess is the Fed knows the strong USD is hurting them and any more increases would only hurt more. Thus dollar falls, oil price increases.

Thoughts? Canada, Frackers and US Banks saved?
—————————————————————–
Russian’s are hurting, and when the bear mad!! US dollar was pressured today.

#79 Mark on 02.03.16 at 8:40 pm

“Can someone explain to me how trade is done within a TFSA?
I have read many stories where people are buying low/selling high and have not to pay tax as long as they have enough room in their TFSA to cover the profits. Can you actually set up a trading account within a TFSA account or does one strictly transfer the profits from a brokerage account into a TFSA?”

You can trade as much as you want in a TFSA, so long as the investments are deemed ‘eligible’ for the TFSA (its the same list and rules as RRSPs, BTW, per the ITA).

Basically you contribute cash (or securities in-kind) the TFSA up to an amount of your available cumulative contribution room. If you buy a penny stock in your TFSA and it explodes to the moon, you do not face any tax consequences as a result of such.

The flip side is that if you buy an expensive stock in your TFSA, and it crashes to zero, you do not receive a capital gains deduction upon disposition.

There have been some cases where people have accumulated large amounts in TFSA’s, and have been subject to challenges by the CRA. Most of these cases were on account of a very certain form of ‘gaming’ of the rules in the early days of the TFSA which has been since rectified. Or trading in certain related party entities, which is also technically prohibited. There are a few cases in which the CRA has challenged excess profitability of certain TFSA’s used for significant volumes of trades by people in the ‘business’ of trading. I believe these matters are still before the courts. But if you’re one of those traders, worrying about paying a bit of tax on the little bit of money you are even able to stash in a TFSA should be of quite minimal concern.

#80 Head start - Realties.ca on 02.03.16 at 8:44 pm

[…] Source: http://www.greaterfool.ca/2016/02/03/head-start/ […]

#81 Smoking Man on 02.03.16 at 8:45 pm

Go Ezra

Like this guy, spot on, on most topics, we differ a bit on foreign policy, I can’t stand NutAndYahoo.

Ezra’s Fire Wynne campaign.

https://www.youtube.com/watch?v=3F_r_5vNk-M

#82 Mark on 02.03.16 at 8:45 pm

“Well I’m glad you guys have it figured out because I’m stumped with what happened today. Never seen anything like it.”

Too many people like you lined up convinced that oil going down or the USDCAD$ going up is a ‘sure thing’.

That’s the problem with such extreme moves over short periods of time — you get a lot of people who are in very extreme positions, and a bear raid doesn’t take much to really start everything ablaze.

#83 TurnerNation on 02.03.16 at 8:48 pm

Y bother..local realtor on FB advertising a seminar with tag line: Afraid of losing your retirement savings in the stock market.

I think access to equity markets should be governed by an accredited investor principle: No whiners!

#84 Jfish on 02.03.16 at 8:50 pm

Nine eleven was perpetrated by the real owners of this world. Not some guy in cave.

#85 Herb on 02.03.16 at 8:51 pm

#81 SM,

I’m not surprised. You’re two of a kind, making careers out of shit disturbing. Otherwise irrelevant.

#86 TurnerNation on 02.03.16 at 8:53 pm

Funny today logged into my equities trading platform. Flipped a few charts, thought my quote feed stale after a week of trading hyperactive FX charts.
But no, the SuperScary equities market indeed was chugging along. Volatility we hardly knew ya.

#87 Mark on 02.03.16 at 8:54 pm

Hey, anyone know if a TFSA mortgage is possible?

If house prices fall enough, and stocks go up, throwing a mortgage into a TFSA could be a really attractive strategy. Especially if structured so that the mortgage is tax deductible.

Imagine that, deducting interest payments made on a mortgage in one’s own TFSA! And unlike a RRSP, never facing tax on the money again!

Impossible. — Garth

#88 Smoking Man on 02.03.16 at 8:57 pm

#82 Mark on 02.03.16 at 8:45 pm
“Well I’m glad you guys have it figured out because I’m stumped with what happened today. Never seen anything like it.”

Too many people like you lined up convinced that oil going down or the USDCAD$ going up is a ‘sure thing’.

That’s the problem with such extreme moves over short periods of time — you get a lot of people who are in very extreme positions, and a bear raid doesn’t take much to really start everything ablaze.
…………

Wasn’t that at all, typical on an oil move, USDCAD will move in opposite directions at a proportionate ratio.

That ratio for the last week has been out of sync, today it was bazzaro..

I’ve been trading the pair for the last 6 years and have done amazing.

I know a huge hedge fund was getting out of the bet last week, and it looked like they where done last night.
So I bought some. Told my apprentice it was to dangerous, sit on sidelines. You will thank me in the morning.

I was right and thank god he listened. My problem is the gambling bug.

I’ve been on side lines since last week, I need a rush…

Got to work on that.

#89 Doug t on 02.03.16 at 9:01 pm

Invest in the weed industry in this country – I’m already in a joint venture :)

#90 Smoking Man on 02.03.16 at 9:02 pm

#85 Herb on 02.03.16 at 8:51 pm
#81 SM,

I’m not surprised. You’re two of a kind, making careers out of shit disturbing. Otherwise irrelevant.
….

“You can’t bend what you can’t offend,” you ever been to my blog. Clearly stated in the mission statement.

Probably irrelevant to you but the CRA loves me. Should see the size of the check I’ll be mailing them on the last day, the last minute to file taxes.

Probably the last one.

#91 acdel on 02.03.16 at 9:04 pm

#79 Mark

Regarding the TFSA response.
——————————————————————–

Thanks.

P.S. On comment 78; it should have read, “When the bear gets mad”!

#92 Mark on 02.03.16 at 9:04 pm

“Impossible. — Garth”

Why? An ITA prohibition? Or simply nobody offering it as a trustee (yet)?

I’m just thinking 10 years into the future, when $200k TFSA’s and $200k houses may very well be fairly prevalent, with an equity market perhaps seriously overvalued (and thus ripe for selling and switching to RE/bonds) at such point.

#93 Smoking Man on 02.03.16 at 9:15 pm

Wow to many posts tonight, no it’s note coke, I’ve had about 20 coffees today, I do that when I’m losing, makes my brain speed up. Time for a drink and slow down.

Good night dogges.

#94 Smoking Man on 02.03.16 at 9:21 pm

#89 Doug t on 02.03.16 at 9:01 pm
Invest in the weed industry in this country – I’m already in a joint venture :)

I’ll invest. [email protected] if you need more loot, and a seasoned mofo business man to get you around obstacles.

Honestly that’s the last post.

#95 TCContrarian on 02.03.16 at 9:24 pm

Garth – A scary number of nutbars on this blog believe Nine Eleven was a hoax.

Here’s a bet: You show us (me) an image/video of the jet plane that (allegedly) plunged into the Pentagon, and I’ll pay you $100. If you can’t, get informed.
You may know a thing or two about investing and RE bubbles, but you seem to have a serious gap in nine-11.
Why do you think there are > 2,000 Architects & Engineers that have been trying to have a REAL investigation?

Try this link for starters: http://www1.ae911truth.org/en/evidence.html

And if you haven’t heard of WTC-7 (the tower that wasn’t hit by anything, yet also collapsed in a free-fall), you MUST ask yourself ‘why’?
Hint: you weren’t supposed to know.

On the other hand, you may be afraid to publicly challenge the “official myth” – as many have reported to be pressured/intimidated to tow the line.

I even suspect that this post of mine will not be shown…

I’m fully invested in tin foil. — Garth

#96 Leo Trollstoy on 02.03.16 at 9:39 pm

I’m just thinking 10 years into the future…

u haven’t been correct thinking less than 1 yr into the future why bother w 10. shud focus on learning how to get hr to call u back first.

#97 TurnerNation on 02.03.16 at 9:42 pm

SWL there’s no countries anyway. Just low cost producing regions and all important tax havens.
USA went to space so many years with its ‘enemy’ Russia. Pol Pot and Pinnochet went unchecked, no social media shrieking of ‘he’s killing his own people! ‘. They made great low wage production zones. We won’t be spared. Bread and circuses.

#98 Leo Trollstoy on 02.03.16 at 9:43 pm

Too many people like you lined up convinced that oil going down or the USDCAD$ going up is a ‘sure thing’.

investors in usd already made their money. we’ve moved on. u were ‘sure’ 2 yrs ago that the cad would rise. stop crying about being wrong. and poor. forget trying to make money on currencies like sm. it’s beyond u. focus on getting your resume read by hr. seriously. that will give u the start that u need

#99 TCContrarian on 02.03.16 at 9:53 pm

“I’m fully invested in tin foil.” — Garth

Ad hominem attacks – why stoop to such lowly places, Garth? This is not personal.

Take the bet! I could raise the stakes – say $1,000 – to make it worthwhile.
This goes for anyone reading this (pathetic) blog, BTW.

Are they still looking for those WMD in Iraq?? LOL

#100 iPhone generation on 02.03.16 at 9:53 pm

Joe
and the other “Justin” said not long ago…that

“budget will balance itself”……

what do you expect from iphone generation…..
they now better.

—–

They know better than you Joe.

Your punctuation for “budget will balance itself”…… is all wrong.

If you insist on the dots, put them in front of the spin quote and you can find out the first part of the sentence, followed by your quote.

Because even the iPhone generation knows that taking part of a quote, out of the original context is aimed for ruling the low iq audience.

You can’t be accused of being an iPhone generation fool.

#101 John Brennan on 02.03.16 at 9:56 pm

Thanks Garth for setting the bait. Been keeping a keen eye on your blog – seems to really reel them in. Worked like a charm to out a bunch more of them – one by one we’ll get them all into a Walmart roundup center. Just let us know how we can return the favor.

#102 Gulf of Tonkin on 02.03.16 at 9:57 pm

Know one ‘believes’ 911 was a hoax but it sure the hell was a false flag! Get with it-:) Everyone at least has this inclining.

#103 Smoking Man on 02.03.16 at 10:00 pm

Went in 50/50 with a family member for a cottage on Lake Muskoka. This dude link below is our new nabour.

Hope he likes scotch as much as we do.

Clearly stated in the partnership aggrement Smokey don’t cut grass.

https://youtu.be/Tq-JOFViE9M

#104 jane 24 on 02.03.16 at 10:00 pm

TFSAs will only be gold dust if the federal govt leaves them alone over the next few decades. Once the govt notices that there is decent money in them then the rules will change and Revenue Canada will work overtime to see how they can get their share out.

For a govt desperate for money TFSAs are easy pickings.

Plus each new govt wants to remake pension provision without consideration for the fact that taxpayers plans are a 40 year scheme and govt pension remakes every 4/5 years are deadly to individual retirement.

I used to laugh at the Italian in-laws burying money in the garden so that the govt didn’t know about it. Who has the last laugh now? Unknown money is the best money after all.

#105 RimJabba on 02.03.16 at 10:05 pm

Garth, World Trade Center 7, what happened?
I’ve been in construction/engineering for a decade, I’ve never seen steel beams melt from an office fire, not even close to enough BTU’s, unless the office was full of magnesium ribbon. No hoax, it happened. But when you have an organization of thousands of engineers/architects saying no way the planes alone did that, you have to step back and question it a bit.

Smoking Man, I think the US is about to do negative interest rates. USDCAD is acting way funny, someone knows something big is coming for the USD, it doesn’t just start dropping like that for nothing. The small hat wearing bankers are up to something.

#106 Vampire Studies GMST 454 on 02.03.16 at 10:07 pm

I hab a weally bad code…

#107 Liz on 02.03.16 at 10:18 pm

My dad put 50% of my money from my RDSP account into different Canadian stocks. What should I do?

#108 Yuus bin Haad on 02.03.16 at 10:26 pm

I spoke with the guy who resets Justin’s tape loop every morning – he assured me that nothing can go wrong … tick … go wrong … tick … go wrong …

#109 Darren on 02.03.16 at 10:28 pm

On behalf of the blog dogs….

Thank-you Garth!

#110 cramar on 02.03.16 at 10:33 pm

#45 gut check on 02.03.16 at 7:32 pm
Lowe’s is buying Rona?

bummer.
it’s killing me to watch this country circle the drain

————–

It’s our own fault. Been expecting it for over 5 years.

My experience with big box hardware stores is that Rona has consistently, over widely different cites, the absolute worst customer service of them all. Lowes was the best, with Home Depot a close second, and Rona at the bottom. Just try to find someone to help you at RONA!

Except for Home Hardware (Cdn Co.) that is! They are on a different level altogether! But I have experience with only one HH Building Centre, which is 3 blocks from my current home. They are the smallest lumber store with only two cashiers—usually only one needed, yet have at least six people on customer service at any given time. I know all their names and they even know my dog by name since I take her to the store all the time. They have treats for her and she loves all the attention. Did I mention they have superb service? Just walk in and ask, “I need something to do this…” and they have or will find a solution regardless of how long it takes. We have given them probably over 10 grand in business. RONA is pathetic next to them and they really don’t deserve to stay in business.

#111 Shirley valentine on 02.03.16 at 10:34 pm

#103 Smoking Man on 02.03.16 at 10:00 pm

Went in 50/50 with a family member for a cottage on Lake Muskoka. This dude link below is our new nabour.

Hope he likes scotch as much as we do.

Clearly stated in the partnership aggrement Smokey don’t cut grass.

https://youtu.be/Tq-JOFViE9M
*
Wow, you moved closer to me.. !! SMOKEY BABE… now I won’t have to drive to senica Does it have a hot tub?… sure hope so…. Didn’t Garth say only buy RE with people you sleep with ….. hmmmm

Well anyways this is super positive good news..time to hit the tanning salon for summer time fun on the way.. party on

#112 IHCTD9 on 02.03.16 at 10:36 pm

#54 Millennial Realist on 02.03.16 at 7:48 pm

——————

This has got to be single most boneheaded monologue I’ve yet read here on GF.

Buddy, a “rich” guy who can’t dump the extra already taxed 5K Trudouche took away into a TFSA, will then just dump it into an RRSP and GET HIS TAX MONEY BACK IMMEDIATELY.

AND HE CAN DUMP A HELL OF A LOT MORE INTO AN RRSP THAN A TFSA BECAUSE HE MAKES 10x MORE THAN YOU, AND HITS THE MAX! YOU’LL NEVER MAKE THAT MUCH, SO YOU’LL NEVER BE ABLE TO PUT IN NEARLY AS MUCH AS THE RICH GUY! THE TFSA IS THE SAME LIMIT FOR EVERYONE – EVEN THE FILTHY STINKING SCUM OF THE EARTH RICH GUY!

AND HE CAN FILL HIS TROPHY WIFES’S RRSP TOO!

HE WILL GET A MASSIVE RETURN BECAUSE HE MAKES A SHIT TON OF MONEY!

PLUS HE GETS HIS WIFE’S RETURN TOO!

That means the rich guy gets two HUGE government cheques and has himself a Bently detailing party with money T2 was hoping to use for reducing the shortfall created by his bone headed tax the rich tax credit (That’s the one will pound federal revenues by nearly 10 Billion over 4 years because math is hard if you recall).

T2 will then go borrow the money he gave to the rich guy, and your kids will pay it back plus interest (to the rich guys kids) over the next several decades.

I get it, you hate rich guys.

But rich guys must love you. :)

#113 ROCK BEATS PAPER on 02.03.16 at 10:37 pm

#75 Smoking Man on 02.03.16 at 8:30 pm

It will cost a lot more if you maintain a long US$ trade. There has been a record number of speculators long the US$, while the commercials have been short. In the meantime, the commercials are heavily long (or less short) most commodities and currencies of commodity producers.

#114 nonplused on 02.03.16 at 10:45 pm

Milk and eggs do come from wheat, it just has to go through a cow or a chicken first. Steak and Buffalo wings too. Yum. Now I’m hungry.

While we are on the 9/11 hoax, let’s not forget the moon landing hoax. After all you can’t see stars in any of the photos. Don’t buy all that “exposure” stuff, an easier explanation is that they simply forgot the stars on the sound stage, or that it would have been just too darn hard to put them all in the right spot for all the different photos.

They probably faked the space shuttle and the space station too. After all how can they orbit if the earth is flat and anyway they would have crashed into the firmament. Same with the Mars rovers, you can’t land a robot on a celestial being.

#115 Stoopid Idiot on 02.03.16 at 10:55 pm

Garth – A scary number of nutbars on this blog believe Nine Eleven was a hoax.

Me too… oh crap Garth, I dropped my Nut Bar… I mean my Interferometer…

Just curious…
Why did oil jump today?

Oversold? Great value? Supply issues? Lower chance of US rate hike?

My guess is the Fed knows the strong USD is hurting them and any more increases would only hurt more. Thus dollar falls, oil price increases.

And people make fun of my name…LOL

#116 acdel on 02.03.16 at 11:01 pm

Good Post Garth!
How’s the pup with the bionic leg doing?

Good-night dawgs!

#117 IHCTD9 on 02.03.16 at 11:01 pm

#104 jane 24 on 02.03.16 at 10:00 pm
TFSAs will only be gold dust if the federal govt leaves them alone over the next few decades. Once the govt notices that there is decent money in them then the rules will change and Revenue Canada will work overtime to see how they can get their share out.

For a govt desperate for money TFSAs are easy pickings.

Plus each new govt wants to remake pension provision without consideration for the fact that taxpayers plans are a 40 year scheme and govt pension remakes every 4/5 years are deadly to individual retirement.

I used to laugh at the Italian in-laws burying money in the garden so that the govt didn’t know about it. Who has the last laugh now? Unknown money is the best money after all
————-

I have always feared the same. The type of hate displayed for “rich folks” (regular working individuals/couples with brains) these days will eventually catch the eye of some socialist ding-dong politician and we’ll all have to burn rubber to the bank before he gets elected with a super majority.

The black market is too easy, and ever beckoning. It’s a big problem right now, has to be. I know many who are indulging, but they’re not burying it out back. It’s going out the door as fast as it comes in.

Keep an eye out for attempts at full blown wholesale regulation of sites like Kijiji and EBay. Ontario organizations like Omvic already have bots crawling Kijiji trawling for curbsiders…

#118 cramar on 02.03.16 at 11:05 pm

WTC 7 is the only steel skyscraper in the world to have collapsed due to fire. It is a smoking gun!

Saw a program on the WTC destruction (I think it might have been British). They took a video of the collapse of Building 7 (which wasn’t even hit by a plane) to one of the greatest demolition experts in the world, in Europe.

Before seeing the video, he said a controlled demolition collapsing on its own footprint will bring down a building faster than a free fall. He calculate x seconds for a 47-story building. Then with a stopwatch he watched the video. Exactly the time he stated—to the very second! Looking at the video he said that was obviously a controlled demolition.

The interviewer asked if it was possible that it could be a collapse due to other causes. His answer was memorable, “Not unless the laws of physics in the universe are changed!”

#119 Keith in Calgary on 02.03.16 at 11:13 pm

My wife and I walked thru Market Mall tonight……Chinook Center last night…..and South Center mall 3 days before.

It was like the scene from the 1970’s Charlton Heston sci-fi movie OMEGA MAN. The malls were deserted and the few people who were there were walking for exercise as they had no bags in their hands. The stores were empty and the clerks were all surfing on their phones.

I did a quick GOOGLE search online and still could not find the final retail sales figures from the Christmas season in Canada. I guess they don’t release bad news anymore……..

#120 Christocracy on 02.03.16 at 11:15 pm

If the NSA can’t get away with PRISM, XKEYSCORE and all the other revelations from the Snowden leaks, there’s no chance of a 9/11 conspiracy containing a leak.

You lost nutbars.

#121 MF on 02.03.16 at 11:23 pm

Lol at all the 9/11 conspiracy theorists. An easy way to voice their anti American/Anti Western sentiment I suppose.

How come I never hear about the WT 1993 bombing being a hoax? Nobody mentions it. Remember that one #84 Jfish? Same guy living in a cave that you think was a fictitious individual.

Oh, and how can I ever forge the “rumour” that circled (mostly in the mideast) that all the Jews were told to leave the buildings before the planes hit.

Or that this is all a Mossad conspiracy.

#105 RimJabba on 02.03.16 at 10:05 pm

“The small hat wearing bankers are up to something.”

Sort of like what this clown is hinting at^

MF

#122 macroman on 02.03.16 at 11:24 pm

ZIM huh, helped orchestrate 911.

#123 Noodles on 02.03.16 at 11:24 pm

Isn’t Canada great?

#124 MF on 02.03.16 at 11:32 pm

Back to the TFSA.

This is great advice. The name is obviously misleading. I mentioned the stocks in my TFSA to people at work the other day and it was clear nobody knew you could put stocks in there, or what the yearly limit is. Nobody really understands how it works. I assume this is why Trudeau picked on it by calling it a rich person’s tool.

I only know how to utilize the TFSA because of this blog so for that I am grateful.

#112 IHCTD9 on 02.03.16 at 10:36 pm

Realtalk. Well done.

#38 common sense on 02.03.16 at 7:13 pm

Exactly. Someone says the economy looks like it can’t take higher rates and suggest negative rates (a total admission of failure) and the market goes up. Go figure. Totally messed up.

MF

#125 Linda on 02.03.16 at 11:34 pm

#54 Millennial Realist

You crushed it. Thanks for having the guts and smarts to speak the truth.

It’s 2016. There’s a reason we have a new government in Ottawa.

The old games of the Boomers, enriching the few at the expense of the many, are coming to an end. The TFSA rollback is just the first of many loopholes about to be closed. Wait for inheritance taxes and taxes on wealth transfers, plus higher taxes on capital gains. Coming soon, and they’ll make for a better, stronger, fairer country.

Not many of the Boomers on here realize that, however.

They will be completely irrelevant in the vote going forward, however.

Their day is done.

The TFSA is the most democratic and egalitarian of vehicles. Hardly a Boomer-builder when the greatest benefits accrue to the young. You will learn. — Garth

#126 Whistler or bust? on 02.04.16 at 12:03 am

10 Reasons why am I calling a top now in Vancouver prices.

1. Vancouver Real Estate has finally gone parabolic. It has gone from years of above average price increase to massive never before appreciation. No asset class that I am aware of has ever gone parabolic or hockey stick on a chart and not had a major crash. Not tulips, oil or tech stocks. This is textbook classic top – Greed has replaced Fear and it’s different this time for ______ and _______ has replaced rational thinking.

2. Panic buying and large price increase have spread to the distant suburbs such as Maple Ridge, Places where there is plenty of buildable land and lots of new inventory. Places are going multiple bids in average neighborhoods. People genuinely think if they do not buy now they will be priced out forever.

3. Real Estate prices in the vast majority of BC are flat to down. Its as if the Lower Mainland is an island onto itself. These are areas not affected by foreign buying so it better reflects the current economic fundamentals of the real estate.

4. The Canadian and BC economy is weak. There is risk that the spill over of falling oil prices will spread to Vancouver. This can be in the form of layoffs at West Jet or the CIBC because they have to cut costs due to losses on loans to oil companies. This is a bigger thing than many people think.

5. Construction is the only growth industry we have and it accounts for 10-15% of BC’s economy. This is way beyond historical norms and way beyond what it should be based on the number of annual new arrivals to the Province. It is being driven by speculation.

6. A significant number of properties (of all types) have been purchased with foreign money and sit empty. These have been taken out of the rental and sales pools putting temporary artificial pressure on prices. I believe these account for far more than the 5% the spin doctors who benefit from the continued inflation of the bubble.

7. People are finally waking up to the effect of foreign buying and demanding change. There have been multiple sources siting the 5% number as a joke. The people are demanding change and the Gov’t is being forced to take notice. Not a day goes by without another article on empty houses, Asian money laundering, rents going up, houses being demolished and the like. This effect will continue to grow until political pressure will force change

8. Prices are dropping hard in other Asian hotspots. Places like Australia Singapore and HK. These bubbles were inflated first so its’ logical that they will pop first.

9. Price to rents, Price to income, and any other measure to gauge the valuation of our real estate is now well above the highest levels ever recorded. Its go beyond stupid to utterly absurd. I generally believe people will look back in 5 years and ask “what the hell were we thinking”

10. Capital Controls – Many experts feel that China will be forced to install capital controls in 2016 and stop the annual $50,000 per year allowance. While people will still find ways to smuggle money out of the country it will be much harder and much more expensive.

11. Bonus Reason! – Vancouverites are utterly giddy and euphoric about the state of Real Estate prices in Vancouver. There is zero fear of a correction or a downturn with most forecasting (in a survey) returns of high single to low double digit returns going forward. They are forgetting that at no time in history has real estate run up this fast. They are too busy crowing about how smart they were to buy and how everyone else should buy too or be priced out forever.

#127 macroman on 02.04.16 at 12:07 am

I bet Garth doesn’t know the Zim connection to 911.

Zim is an Israeli shipping company that had offices in WTC tower and moved out two weeks before the attacks.

Zim is renowned the world over as cover for Mossad operations. Kind of like Canadian passports.

Inadvertent/coincidental blog pic Garth?

Oh and Last!

#128 joe on 02.04.16 at 12:29 am

I don’t care about grammar..Iphone generation….

question? how many languages you young generation canadians know??? — one only……

How you can compete with educated immigrants who know few languages…and live in your country better than you…..
so buy a house and drink a beer in your cellar…

#129 Vampire Studies GMST 454 on 02.04.16 at 12:41 am

125 Linda – 54 realist. That is so very sad. I feel sorry for
both of you. Sniff.

#130 Karl hungus on 02.04.16 at 12:42 am

If I have a joint checking account with my wife, can we both contribute to our seperste rrsp or tfsa accounts from that checking account ?

#131 Frank on 02.04.16 at 1:07 am

#126 Whistler or bust?

1. Technical analysis is for losers and you don’t even have any technical. What is the line between ‘average price increase’ to ‘massive’? This is non-specific nonsense.

2. Price appreciation in outlying regions is not new and has always happened as an extension of Vancouver gains.

3. Yeah Vancouver’s market behaves differently than the rest of the country. Welcome to the last 15 years, how is that a sign of peak?

4. “risk that the spill over of falling oil prices will spread to Vancouver” No there isn’t. No one has said that except you. Show me one economist who is worried about that. The jobs picture in Vancouver is rosy. We don’t pay a lot but it’s actually bolstered with the low dollar.

5. Yup. Has been this way for a decade, why is now the peak?

6. People have complained of this (without proof mind you) since the Chinese repatriation of Hong Kong led to foreign investment that saw the rise of condos in Yaletown and Coal Harbour in the last 90’s. What’s different about today?

7. Just because you see something on Facebook doesn’t mean shit. The people that get off their asses and vote are the same group that own houses, not the ones on Twitter. They’re fucking tickled pink that their home is worth $2M. Christy Clark and JT are both on record saying they don’t want to see prices decline in Vancouver and WILL NOT do anything to cause it.

8. None of that is logical. Bubbles don’t have timers. This is meaningless

9. Every standard marker has been off in this city for a decade. Why is this peak?

10. But I thought those capital controls were already popping bubbles in other cities? Why wouldn’t we have already seen that hear instead of new record prices EVERY SINGLE MONTH in 2015 and 2016?

11. Based on what data? Prove that sentiment has changed

You basically just wasted everyone’s time without showing A SINGLE reason why today is the peak. You could have trotted those answers out every Feb 3rd for the last 5 years and thought you were right.

Look, housing prices are based off what people will pay. If people can make payments and think a house will increase in value they’ll buy. Right now interest rates are low in Canada (and not going anywhere soon) and jobs are healthy in Vancouver. People can pay their mortgages today and tomorrow. There are no indicators that will change suddenly. I expect Feb will be a new record house price and March after that as people continue to use leverage to bet that prices will increase and they’ll be able to sell higher to the something fool. The grapest fool? The goosest fool? Ah, I forget the expression anyways I don’t think this is sustainable and will end at some point (hurting those that got on after whatever point it resets to) but I’m not foolish enough to say that peak is today, tomorrow or two years from now.

#132 Brett on 02.04.16 at 1:13 am

Re: Keith in Calgary and his interest in the “final retail sales figures from the Christmas season in Canada”.

I would be really interested in seeing those too. Garth do you have those sorts of connections?

#133 Nagraj on 02.04.16 at 1:19 am

vague but still interesting: quite a while ago I read a piece by goodness knows who, the point of which was there’s a tug of war, if you will, within the community of American movers and shakers, as to $US policy. Obviously there’s folks for whom a strong $US is not profitable, obviously if the Fed begins normalizing rates the $US will get stronger.

I didn’t pay particular attention to that article – but over time – I wish I had.

The $US index, as we know it, overweights the Euro, and in the opinion of its critics, is a dated index . . . one also wants to distinguish particular motivations such as the relation of the $US to Chinese currency, and Japanese currency. (A falling yuan and a rising yen displeases various interests.)

It seems to me that present Washington and the Yellen Fed are $US hawks. If the $US does decline to up oil and gold prices, and that’s a big if, one might then assume that there’s been “a changing of the guard”.

I myself think that Old Money thoroughly disrespects lower-than-a-snake-in-the-grass rates.

#134 BailinginBC on 02.04.16 at 1:38 am

#126 Whistler or bust?

One more for luck

12. The other day the Vancouver Sun’s front page had an article regarding the reduced numbers of Chinese Immigrants. Along the bottom of the front page was an advertisement for a new real estate development in the British Properties. It’s name? “The Peak”. This goose is cooked.

#135 jr on 02.04.16 at 1:44 am

hi Garth, love the blog…..just a non-crazy person here that doesn’t believe the official story of 911…. just doesn’t add up to me when you examine the facts, not trying to change anybody’s mind…just seems like our side of the argument is usually ridiculed when all we ever seem to advocate is for everyone to re-examine some of the facts with an open mind….

#136 Freedom First on 02.04.16 at 2:06 am

#104 jane 24

You are living in fear jane. It’s very bad for you.

jane, it’s best to simply live the life you love living, today, right now…………and invest like you’re going to live forever.

It’s how I roll.

#137 nonplused on 02.04.16 at 2:28 am

#118 cramar

Nothing fall faster than free fall unless it is somehow being “powered” down. A plane can fly down faster than free fall but a building cannot. Your expert is a fake.

That said WT7 did fall at pretty much free fall which is hard to achieve. But let’s also remember that two 100 story buildings collapsed in immediate proximity and could have severely compromised the foundation. That doesn’t rule out the possibility that explosives were used, but it doesn’t prove it either.

So far the whole 9-11 conspiracy thing is based on the question of how these buildings collapsed under circumstances under which they wouldn’t be expected to. But lots of things collapse when the aren’t expected to. Maybe the owners scrimped on the design? Malls collapse in China all the time for this reason, no airplanes necessary.

The real focus of any 9-11 investigation should be whether the government was aware of a plot and what they did or dit not do about it, not the nature of the collapse. Tons of people saw the planes.

Yes buildings do not normally collapse in that way. But poorly built buildings can collapse pretty much any time, particularly if they get a million tons of concrete shoved into the basement.

As to whether explosives were used to bring the buildings down, well the proof is still entirely of the “could have” or “must have” type. And it’s possible. But nobody has found the smoking gun.

To me the much more interesting question is why was there no video of the other 2 planes, and why didn’t the CIA know it was coming or if they did how come they didn’t stop it? I’m not saying it was a conspiracy, but it is at the very least a pretty big failure given their jobs.

#138 NoOneOfConsequence on 02.04.16 at 2:36 am

I noticed a few comments about “HOW TO TRADE STOCKS IN TFSA”.

Ok – so here it is: detailed instructions.

1. Phone your bank and make an appointment to see an investment advisor: I chose TD, as at the time I got 20 trades free. RBC has another offering. Free trades are nice when starting small.
2. Go in and ask to setup a SELF DIRECTED BROKERAGE ACCOUNT, AS A TFSA. They will immediately know what to do. THERE IS NO COST TO THIS.
3. Say no to all the offers of money market and mutual fund pumping that will follow.
4. Sign the papers, setup a password.
5. Wait about a week for everything to clear and for you to get your account activated.
6. Put some money in the account. Use “new” money as it’s easier. NOTE: DO NOT TRANSFER $$$ FROM AN EXISTING TFSA!! If you do it wrong, you will take a double hit on contribution room. The bank can do it properly…but a fee will apply. You really need to avoid fees when starting out.
7. Log into TD web broker (or whatever), and familiarize yourself with the trading platform. The free one is fine for newbies.
8. Hopefully you book marked the Greaterfool articles so you can look up the ETF and preferred suggestions.
9. Place your order. (if you watch for a few days…you will see a trading cycle…buy at the time of day it’s the lowest…).
10. The stock goes into the account next day…or later, provided your bid is accepted. (on the banking platforms, you place a bid. But stocks move constantly…so you might pay a few cents more but never less than what you bid).
11. Dividends are deposited automatically directly into your brokerage account. (note – if you have stocks paying in USD (POT) you will take a hit on the exchange rate. there are ways to deal with this…but it’s beyond scope of blog 101).
12. Keep doing this every pay day. The key to investing is regularity…make it a habit.
13. Don’t listen to anything that Millenial Realist and all the other naysayers are spewing on this blog…it’s all crap and excuses for failure.
14. Don’t panic on down turns…look for opportunities.
15. Don’t look at your stock prices every day – always remember you are in this for the long haul.
16. In a year – look at your account, and how much you have saved. It makes you feel like you accomplished something.
17. Repeat steps starting at number 6.

Have fun, good investing.

Oh yeah…and rocks are less liquid than you think, plus they come with the highest fees in the world. I learned that the hard way.

#139 Mark on 02.04.16 at 3:38 am

Per Mish, the US Treasury yield curve has now experienced inversion:

https://mishgea.files.wordpress.com/2016/02/inversion3.png

This is about as “recession dead straight ahead” as it traditionally gets for the US economy on that metric.

#140 cropgrower on 02.04.16 at 6:36 am

……talked to buddy, who works at RBC in Lloydminister………getting bad……very, very bad.

#141 George S on 02.04.16 at 6:54 am

“I’m fully invested in tin foil. — Garth”

Check out some of the clothing available that has a titanium (or some other shiny metal foil) heat reflective liner. All the tinfoil hat people need to do is solder or weld a ground wire to it to trail behind them and you wouldn’t even know it. Full Faraday cage, and stylish too.

#142 maxx on 02.04.16 at 7:21 am

“They’re not products.
TFSAs and RRSPs are not things. You don’t buy one at the bank…….”

Excellent point and one worth repeating on a regular basis.
Also worth retaining is that bank suits have taken to calling most of their intangible creations, “products” accompanied by cheap marketing charm offensives to legitimize the charges and fees that follow.

#143 cropgrower on 02.04.16 at 7:25 am

whoops…..Lloydminster….

#144 SWL1976 on 02.04.16 at 7:53 am

Smoking Man,

You failed to mention yesterday as we were debating climate change that Southern Ontario was shattering weather records

http://www.theweathernetwork.com/news/articles/records-will-be-broken-with-ontarios-double-digit-temps/63098

Enjoy your new cottage on bull shit lake. I still enjoy some of your posts, but you should gracefully accept defeat with this one

#145 Leo Trollstoy on 02.04.16 at 7:58 am

aside from walmark of sadkatoon, would would be naive enuff to think that the tfsa was a savings vehicle? lol

#146 Leo Trollstoy on 02.04.16 at 8:00 am

#135 jr on 02.04.16 at 1:44 am

nobody has an open mind. we’re all biased

#147 Stoopid Idiot on 02.04.16 at 8:01 am

Garth – A scary number of nutbars on this blog believe Nine Eleven was a hoax.

Me too… oh crap Garth, I dropped my Nut Bar… I mean my Interferometer…

Just curious…
Why did oil jump today?

Oversold? Great value? Supply issues? Lower chance of US rate hike?

My guess is the Fed knows the strong USD is hurting them and any more increases would only hurt more. Thus dollar falls, oil price increases.

And people make fun of my name…LOL

#148 birguty on 02.04.16 at 8:23 am

A scary number of nutbars on this blog believe Nine Eleven was a hoax.”

You think that’s bad…..I know a guy who thinks Seven Eleven is a hoax

#149 TRT on 02.04.16 at 8:23 am

So who on this blog got killed shorting the loonie? With leverage to boot.

You basically arrived at the party too late..

..told you to switch to Euro’s.

#150 birguty on 02.04.16 at 8:25 am

#9 pathcontrolmonk on 02.03.16 at 6:22 pm
Not sure about wheat, but Trudeau Jr. is made of milk and eggs.”

Not to mention sugar and spice and everything nice!

#151 TRT on 02.04.16 at 8:27 am

What’s this ‘ad hominem’ PC BS that people retort? Character can be attacked if your argument is way off base. Too much indoctrined formal schooling …

#152 SWL1976 on 02.04.16 at 8:29 am

#101 John Brennan

Thanks Garth for setting the bait. Been keeping a keen eye on your blog – seems to really reel them in. Worked like a charm to out a bunch more of them – one by one we’ll get them all into a Walmart roundup center. Just let us know how we can return the favor.

—————————

Fantastic John,

You should be considered for a greasy promotion soon. Getting the cattle into the Walmarts will not be difficult as they are trained to already go there to pay for their corrupt Nestle, Pure Life bottled water. I laugh everytime too. They buy something that has been icredibly marked up that they can simply get for free out of the tap at home, but once you have them trained, your job becomes much easier.

Not sure how you are going to coral the awakened one’s but I am sure you are working diligently on that issue, perhaps even as we speak. If you rquire any further funding, for anything, just ask and you shall receive. No ideas about perpetuating state control are off the table, and it still appears only a small minority are actually waking up.

Good job on this, and also thank your team again for all the road blocks with the 9/11 investigation and the cover up

#153 crowdedelevatorfartz on 02.04.16 at 8:33 am

@# 29 Tundra Pete
@#47 Unhinged Loon ,
and #51, 53, 61, 73, 84, 95 & 99, 102, 105, 118, 122 & 127……….
+++++++++++++++++++++++++++++++++++

Damn! I should have invested in tinfoil.

#154 Centre Wing on 02.04.16 at 8:37 am

My spouse and I are both on defined benefit pension plans through respective employers. Employer matches my 11% contribution, her employer goes 125% to her 8% contribution.

How integral is it for us to use a TFSA or RRSP for retirement if we are contributing so much right now and likely for the next 30+ years?

You plan on staying employed at the same job for three decades? Or that your corporate pension plan will be solvent in 30 years? If you trust fate that much, save nothing and see what happens. — Garth

#155 Noel on 02.04.16 at 8:38 am

Nice lesson on the RRSP, a lot of people don’t know it can be used in times of unemployment, or underemployment.

It should also be noted that some transfers into or out of TFSA’s will be met with a $75 fee at a certain institution that’s named after the capital of Ontario. I’d guess that will become standard practice soon.

#156 Rakiki on 02.04.16 at 8:40 am

I agree with all of today’s points except one: withdrawing from an RRSP after being punted, especially for a younger person. That should be a last resort. Once the money is withdrawn, that contribution room and its tax-deferred growth are gone forever.

#157 Toronto_CA on 02.04.16 at 8:53 am

#154 Centre Wing on 02.04.16 at 8:37 am

In your shoes I’d ignore the RRSP (which will like not have much room due to the pension adjustment) and fully fund your TFSAs unless it would cause hardship. TFSA won’t affect your OAS clawback if used in retirement and it is tailor made for people in your shoes.

#158 Retired Boomer WI on 02.04.16 at 8:59 am

#54 Millenial Realist
#125 Linda

Sorry to inform you both that Garth’s comments on TFSA and RRSP are correct.

As a much younger guy, I used my employer’s offering for the RRSP (known in the US as a 401-K) as my first saving for retirement vehicle. I was making a whopping $14,582 at the time (1987). The more you made the more you could stuff away – Tax Deferred.

The “hook” in these plans, when you finally do take the money out, it is taxable at your then current tax bracket rate. If I decided to take ALL my money out in one year, that would place me in the HIGHEST tax bracket there is presently. If I take out much less, my taxes due become much less.

Over the years, it is not the money I put in there that is important, it is the growth of it over time.

The TFSA (US version is the ROTH) is a very different animal. You get no deduction on what you put in. The growth over time is identical to the same investment in an RRSP.

The key difference is no taxes on that growth over time.
ALL can put the same amounts in, not dependent on how ‘much’ one earns. Therefore, ALL have the identical opportunity to achieve the same ends. Ultimately FAIR & EQUAL. (The contribution limits are limited)

If you want to be financially secure when you get to geezerdom, this is a fine way to go.

I personally started with the tax deferred plan because it was the only one available then. The TFSA (ROTH) came later, and has a lower limit. I used both, and over time did ok using both. Now, I can move some money from the taxable, to the ROTH every year, pay my taxes due, and never have to pay taxes on the growth going forward.
It also helps my heirs who will inherit whatever I don’t use, when I hit room temperature.
(I’m married each ‘I’ should be read as ‘we’).

YOU have to start somewhere, sometime, with some saving commitment!

if you do not, you will have achieved what about a quarter of all people achieve – poverty!

Money (wealth) is not a respecter of generations, or generational envy. This is merely the effect of effort, and time. TIME is your friend in investing, don’t piss it away.

#159 xdisciple on 02.04.16 at 9:06 am

9/11, Garth? Why? Do you miss me? The towers came down free-fall for sure, but not because of any air planes. It was a disaster movie made for network news instead of the cinema. And it had to be shown to the gullible masses before cellphones with cameras were available in North America. All of the eyewitnesses are proven to be actors, some well-known: Robert De Niro, Jamie Foxx, Jennifer Aniston, etc… Why do you resist the truth before your eyes? I know, it’s too much, eh?

#160 fancy_pants on 02.04.16 at 9:07 am

I have never drawn $ from my RRSP other than for the new home buyers program @20 years ago.

A question I have is if you withdraw from an RRSP b/c for example you were punted from your job the year before and needed some cash flow, do you get contribution room back (without working more) the following calendar year?

or is the RRSP different than a TFSA in that contribution room it is once earned and once used?

#161 fancy_pants on 02.04.16 at 9:08 am

sorry, it appears my question was already answered:
#156 Rakiki on 02.04.16 at 8:40 am

#162 Stoopid Idiot on 02.04.16 at 9:16 am

#156 Rakiki

I agree with all of today’s points except one: withdrawing from an RRSP after being punted, especially for a younger person. That should be a last resort. Once the money is withdrawn, that contribution room and its tax-deferred growth are gone forever.

I can understand after a while It may get exhausting, but Garth… you said nothing. I mean at least get him to define withdrawn. I left my employer ( of 30 years) before I turned 55 so I could take possession of my RRSP and of course their contribution into a LIRA… doing fine. I am still working as I’m only 56 and still have gainful employment… for now

#152 SWL1976

Temple Grandin masterminded 9/11… Moo

#163 LL on 02.04.16 at 9:31 am

#138

Okay..looks it’s easy to open a TFSA account.

Let say the $$ is in the TFSA account.
Now what? What should I buy?
All stocks are in downfall!
Even “pot companies” stocks!

Hey, why not try to buy risky stuff you don’t understand and then ask people on the Internet (who think Nine Eleven was a hoax, climate change is a fraud and America is collapsing) to instruct you? What could go wrong? — Garth

#164 t2t2t2t2 on 02.04.16 at 9:35 am

#61 Smoking Man on 02.03.16 at 8:03 pm

Smoking Man,

I recommend if you have time between trades in this bullishly bear market to watch “Loose change: 9/11” and secondly “9/11: In Plane Site”. They used to be on Netflix but death threats may have forced it off the play list.

Loose Change in particular is a great documentary and if nothing else it will at least entertain the possibility of alternate theories than what the media presented.

#165 Bottoms_Up on 02.04.16 at 9:36 am

#144 SWL1976 on 02.04.16 at 7:53 am
———————————
There are no words to describe how badly we are demolishing temperature records.

It would be like Micky Mantle and Babe Ruth playing on a tyke team.

Sure, people are blaming el nino, but el nino is 3x more powerful this year due to a non-stoppable warming ocean (which takes the brunt of global warming).

#166 Bottoms_Up on 02.04.16 at 9:42 am

#137 nonplused on 02.04.16 at 2:28 am
——————————–
The buildings collapsed because the burning inferno in the attic caused the structural beams to melt.

#167 Noel on 02.04.16 at 9:45 am

#73 SWL1976 on 02.03.16 at 8:27 pm
Nine eleven wasn’t a hoax, but it was an inside job.

And that’s a fact

Look it up, not hard to find or understand
____________________________

You’re thinking of seven eleven, and it was a retail job.

#168 BeSmartRich on 02.04.16 at 9:49 am

It is quite surprising that only a few % of my Canadian ex-coworkers from PwC utilize TFSA and guess what we are chartered accountants. Quite scary isn’t it? People seriously need to be educated.

Maybe naming it as tax free SAVING account was our Government was original intention thinking people will only use it as a saving account so less future tax income reduction from a Gov perspective.

#169 CJBob on 02.04.16 at 9:52 am

I wanted to reduce the amount of currency risk when CAD was at .70 and heading up so I bought some hedged investments (ETF’s: VSP US and XIN International) as part of the portfolio. Looking like a good choice as the dollar rises, although I’m in it for the long run so short term doesn’t really matter.

Something others should consider as part of their portfolio.

Now back to your regularly scheduled nut job postings…

#170 Bottoms_Up on 02.04.16 at 9:55 am

http://news.bbc.co.uk/2/hi/7485331.stm

It is also clear that tower 7 was brought down by unattended fires that compromised the structural integrity of the connected beams (must read to the end of the article)

#171 BR on 02.04.16 at 9:59 am

Great post. Will share with the millenials at the office.

Thanks.
BR

#172 my house is my friend on 02.04.16 at 10:03 am

Are false flags real?
http://www.zerohedge.com/news/2016-02-03/false-flags-are-just-conspiracy-theor-admitted-fact

#173 Wade on 02.04.16 at 10:05 am

Well for starters there’s Def finally some shit about 9/11 that doest make sense and techie ally you could cash in your rrsps and buy a car and the first one well I know milk and eggs don’t come from wheat becouse Santa told me so

#174 Cory Joseph on 02.04.16 at 10:12 am

8:08 algo’s on the dow going wild. ANYONE who thinks that these high frequency trades are normal needs to foil their head in tin foil. And you want to ‘invest’ in this fake market?? Good luck! keep banning any talk of gold as it keeps step walking higher! You can’t manipulate physical for ever!

HFT affects only the dummies who think they can day-trade. For investors buying and holding qualify equity-based ETFs, it’s a total non-event. Nice attempt to mislead people into rocks. — Garth

#175 Tony on 02.04.16 at 10:18 am

Re: #168 CJBob on 02.04.16 at 9:52 am

We won’t know what the Canadian dollar does until the U.S. jobs report comes out tomorrow. It will be on the extreme high or low end and with Dudley’s comments about the high U.S. dollar I have to believe it will be on the extreme high side. Somewhere in the 319 to 321 thousand job gain range. He wouldn’t talk the U.S. dollar down if the unemployment report was to come out on the extreme low side.

#176 MF on 02.04.16 at 10:22 am

#127 macroman on 02.04.16 at 12:07 am

Got any proof of that?

Or are you just another nutbar blaming joos for everything?

MF

#177 Those canadian debt lovers on 02.04.16 at 10:25 am

https://www.google.ca/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&cad=rja&uact=8&ved=0ahUKEwix-cTbst7KAhVH-mMKHTLJCKQQFggbMAA&url=http%3A%2F%2Fwww.theprovince.com%2Fnews%2Fabandoned%2Bwest%2Bside%2Bhomes%2Bworth%2Bcombined%2Bmillion%2Bshare%2Bsame%2Bowner%2F11695936%2Fstory.html&usg=AFQjCNH0CjjET-Y3_MfHReiZdD9fUMZaQg&sig2=gMN4gEF03MA7GF3Y6N4_sA

#178 Stoopid Idiot on 02.04.16 at 10:25 am

The banks have minimal and contained risk. CMHC has the government backing it. Worry about things that might actually happen. — Garth

Clarification please, you mean the Tax Payer?

Well I’m glad you guys have it figured out because I’m stumped with what happened today. Never seen anything like it.

Huge oil inventory, and oil goes up, and the USDCAD drops like a rock. Cost me 300k

Can’t have Gold go up to fast in other currencies besides the U.S. dollar. Currency Wars or a race to the bottom, left column

http://www.usagold.com/gold-price-forex.html

#76 Mark

Doesn’t need to ‘melt’ steel. Just needs to reduce its yield strength sufficiently. Anyone with any iota of scientific/engineering knowledge knows that in steel there is a continuum of changes in material properties in steel as it is heated

Your degree in Thermodynamics has paid off… your correct once steal hit 3000˚F… Sheesh. Your talking about 93 3” steal I Beams catastrophic failure simultaneously, strait down at the speed of gravity (free fall) post your opinion over here… good luck

http://www.ae911truth.org/

#119 Keith in Calgary

Been watching the parking lots all over Calgary specially on Friday nights when I’m out, Shawnessy Center has always confused me given we’re supposed to be hit with this down turn. Have no idea how people can afford yet to eat out and shop. I subscribe to Shadow Stats and have yet to hear any number’s also. Please post if found and I’ll do likewise. Mind you this say’s a lot

https://www.quandl.com/data/LLOYDS/BDI-Baltic-Dry-Index

#179 Smoking Man on 02.04.16 at 10:26 am

#169 Bottoms_Up on 02.04.16 at 9:55 am
http://news.bbc.co.uk/2/hi/7485331.stm

It is also clear that tower 7 was brought down by unattended fires that compromised the structural integrity of the connected beams (must read to the end of the article)
…………………

Man you crack me up.

You are an unquestioning treehugger.
You read the BBC, that propaganda rothschild rag. Had to through in Rothschild now that we have gone total x-files on here.

Bottoms Up you will wake up one day and say to yourself. How could I be so stupid.

But man

#180 LL on 02.04.16 at 10:36 am

Hey, why not try to buy risky stuff you don’t understand and then ask people on the Internet (who think Nine Eleven was a hoax, climate change is a fraud and America is collapsing) to instruct you? What could go wrong? — Garth

If some give me some idea about what stock to buy I will consider that just as a suggestion.
I will not run to buy instantly – my account is not even open – , I am able to think about myself!

Some will say “stock are low, it’s time to buy”..y’a right! It will take 5 years for the stock to go up!

We might even have negative rates…if Poloz talk about it, it’s because they have something in mind.

We are living in “Une economie moribonde!”

#181 Rick on 02.04.16 at 10:57 am

Smoking man, sorry to hear about your losses on oil. I called it as a time to buy a few days back. Guess I got your money:). When a commodity is cheaper than the price to pull it out of the ground; it’s time to buy.

#182 NoFool on 02.04.16 at 10:57 am

@ #163 t2t2t2t2 on 02.04.16 at 9:35 am

There’s MUCH better information out there than “Loose change” and “In Plane Site”. There is a lot of confusion out there with speculation and conjecture blending with fact.

For evidence based research, start with ae911truth.org , journalof911studies.com , torontohearings.org, stj911.org.

#183 TurnerNation on 02.04.16 at 11:18 am

This isn’t about that fateful day it’s about mind control, fear and control of the message.
Every newz station playing the same feed that day.
Every on air interview or witness was an employee of the station.
Of the 1000 security cameras in airport or live air traffic control feeds we have zip. Should be masses of recorded evidence. But no, silently several flight crews were incapacitated. And news helicopters were scrambled to record it all.
Haven’t heard the They hate our freedoms, Little girls going to school memes for a while. They’ve moved on.
Very smart men and women control our herd and employ thugs who do their work (“IS”). Now you know why the Bheading vids hit our newz feeds. Total control over us. Media long ago was weaponized. Harsh words but true. One tweet and it happened. Like that.

Now, ready for North America to become the next low wage production zone?

#184 pwn3d on 02.04.16 at 11:28 am

#154 Centre Wing on 02.04.16 at 8:37 am
My spouse and I are both on defined benefit pension plans through respective employers. Employer matches my 11% contribution, her employer goes 125% to her 8% contribution.

How integral is it for us to use a TFSA or RRSP for retirement if we are contributing so much right now and likely for the next 30+ years?

You plan on staying employed at the same job for three decades? Or that your corporate pension plan will be solvent in 30 years? If you trust fate that much, save nothing and see what happens. — Garth
————————
There won’t be much RRSP room left to worry about. It is adjusted down from the employees and employers contributions. I’d leave the room for when you’re making peak salary and use TFSA in the meatime.

#185 Where's The Money Guido? on 02.04.16 at 11:41 am

Re: A scary number of nutbars on this blog believe Nine Eleven was a hoax.

If by hoax you mean false-flag event then US Veterans seem to disagree with you….http://www.veteranstoday.com/2015/03/08/the-hidden-history-of-the-incredibly-evil-khazarian-mafia/

#186 CJBob on 02.04.16 at 12:04 pm

#174 Tony: We won’t know what the Canadian dollar does until the U.S. jobs report comes out tomorrow…

If you’re speculating on the short term currency moves more power to you.
I’m not interested in tomorrow only what the avg. exchange rate tells me I might expect 10 or 20 years from now and the best guess I’ve seen is .75 +/- a lot.

#187 LL on 02.04.16 at 12:12 pm

…”(who think Nine Eleven was a hoax, climate change is a fraud and America is collapsing)”…

……..and those who think America economy is great!

It’s growing. Good enough. — Garth

#188 Vamanos Pest on 02.04.16 at 12:42 pm

I’m pretty much a converted follower of most anything Garth says. Lamb of Garth, In Garth We Trust, What Would Garth Do?

Anyway, I rebalance my balanced and diversified portfolio twice a year, and one of the times I do that is in January
This year, as I discussed things with my fee only financial advisor, the Canadian dollar was at 68 cents, and the TSX was well below 12k. Not sure what oil was, about 27 bucks a can I think.

Anyway, we agreed that this was oversold, even with the hurricane-like headwinds facing the Canadian economy, we decided to undo the 2 year-old underweight Canada/overwieght US equity positions, and went to our “base case” weightings. It’s turned out great so far, both the dollar and the TSX have outperformed their US counterparts in the, ahem, 2 or 3 weeks since.

Garth, was this a mistake, was it too early, should I take a small profit and make a quick trade back to overweight US?

There is no Garth but Garth.

Ok, I’ll stop.

#189 GS in T.O on 02.04.16 at 12:52 pm

9-11 was no hoax. Those were real terrorists flying those planes. But no cave dweller pulled this off. The US gov had intelligence knowing it was on its way and helped precipitate the total destruction of those buildings as a catalyst for a US war in the Middle East.
The government was fully aware of Pearl Harbor before those attacks; let it happen to draw the US into WW2

#190 Mike in Edm on 02.04.16 at 12:59 pm

Well, I figured it was coming, and it finally did. About half of the remaining staff from my Leduc/Nisku O&G company near Edmonton got laid off yesterday. That’s the 2nd time I’ve been laid off since last April. This time it’s a lot scarier b/c I’m now competing with WAY more people for WAY fewer jobs. Also heard that a major pipeline company cancelled a couple more projects and that there should be a MASSIVE layoff announcement in the next few weeks.

#191 Renter's Revenge! on 02.04.16 at 1:04 pm

What?

Nothing from JSS about BCE raising their dividend 5%?

Man, this comment section is getting depressing!

#192 pbrasseur on 02.04.16 at 1:09 pm

#73 SWL1976 Nine eleven wasn’t a hoax, but it was an inside job.

Did someone steal your medication again?

#193 Centre Wing on 02.04.16 at 1:10 pm

Thank you for the responses to my question in #154. As for Garth’s point about it being solvent, I suppose there is the chance that the province of Ontario goes bankrupt. And as for remaining in the same place of employment, my wife is a RN and the pension plan is the same for all Ontario hospitals.

#194 Bram on 02.04.16 at 1:10 pm

Let it sit and rot:
http://www.theprovince.com/news/abandoned+point+grey+homes+worth+combined+million+share+same+owner/11695936/story.html

I’ve got one of those in my street as well: falling to pieces, but sitting on a $1.3M lot. And it is in far worse condition that the one shown in the article.

(Got posted on yesterday’s comment thread by accident.)

#195 The Other Chris on 02.04.16 at 1:11 pm

Just got word that my mother in law sold her house in the GTA in the last week. I’m not sure what pushed her over the edge to let it go; it may have been worries about the currency (she immigrated from overseas and still tends to prefer USD). She’s going to rent from here on in. Perhaps it was a wise move.

#196 Where's The Money Guido? on 02.04.16 at 1:16 pm

#137 nonplused on 02.04.16 at 2:28 am

Larry Silverstein, owner of the WTC towers was looking at a $5 billion retrofit to get rid of the asbestos in the insulation and fire breaks just before they went down.
Pretty cheap fix. And he scored big just a couple weeks before by buying $5 billion insurance on both buildings.
Double payoff…..Didn’t even have to clear his own rubble, the taxpayers paid that through taxes, more cancers, mesotheliomas, etc..
And why did Silverstein say he ordered them to “pull it” meaning take down WTC-7 another of his buildings? Like was said before, CIA headquarters in basement.

Lots of questions….

#197 TurnerNation on 02.04.16 at 1:21 pm

Danier stock halted. Filing insolvency?

#198 Blacksheep on 02.04.16 at 1:32 pm

Bottoms_Up # 169,

Watch this 3 min video and tell me, you still believe the complete and official 9/11 story.

https://www.youtube.com/watch?v=-NrASZxGu_o&fmt=18

Physics is a bitch.

#199 Stoopid Idiot on 02.04.16 at 1:38 pm

#187 Mike in Edm

Sorry to hear this Mark, been lay-off twice this year too (in 30 plus working years) but found a Home with NWR operations. I Commute from Calgary and keep an eye on Ritchie Bros yard as I drive by Nisku, usually full on Fridays and cleared out on Mondays. Noticing come Monday lots of residual equipment growing… she’s pilling up… PCL’s yard is emptying out, Ledcor’s Yard is a ghost town, Blackfalds Yard is skin and bones. McMurray is once again enjoyable to drive in. Best of luck Mark, stay positive and get out there. Your assessment is correct

https://www.rbauction.com/

#200 A Canadian Abroad on 02.04.16 at 2:04 pm

I’ll go with false flag theory as well.

Interestingly enough, there are 42 Gov’t admitted to false flags.

http://www.washingtonsblog.com/2015/02/41-admitted-false-flag-attacks.html

As for the FED:

I did another trade today in USD/CAD. I’m long USD. US job report should be strong tomorrow and I’m with Garth that US rates will rise.

#201 SWL1976 on 02.04.16 at 2:06 pm

#192 pbrasseur

#73 SWL1976 Nine eleven wasn’t a hoax, but it was an inside job.

Did someone steal your medication again?

——————————-

No medication required here. Ever. Just clear concise thoughts.

Simple logic and reasoning will tell you the same thing if, and when, some day you can break from your regularly scheduled programming

Perhaps you should pay closer attention to TurnerNation’s notes on the media’s mind control of the masses

It’s clearly working on you

#202 S.Bby on 02.04.16 at 2:08 pm

#126 Whistler or Bust
#134 BailinginBC
Good points. I do agree with you.

#203 Where's The Money Guido? on 02.04.16 at 2:09 pm

DELETED (anti-Semitic)

#204 Rational Optimist on 02.04.16 at 2:10 pm

184 pwn3d on 02.04.16 at 11:28 am

“There won’t be much RRSP room left to worry about. It is adjusted down from the employees and employers contributions. I’d leave the room for when you’re making peak salary and use TFSA in the meatime.”

It’s true that employees with the misfortune of having defined benefit pension plans don’t have much RRSP contribution room. Your advice to concentrate on the TFSA is right, but he shouldn’t “leave the room”- max out both TFSA and RRSP contributions, but carry the latter forward to claim it when your salary is higher.

#205 Deckard on 02.04.16 at 2:44 pm

#198 Blacksheep

Building 7 was engineered down. Anyone who doubts it is just not wired to understand these things. It’ll be an interesting day when disclosure of the truth arrives.

I think it’s time for this conversation to end. This blog has more nuts than Skippy. — Garth

#206 Smoking Man on 02.04.16 at 2:48 pm

#198 Blacksheep on 02.04.16 at 1:32 pm
Bottoms_Up # 169,

Watch this 3 min video and tell me, you still believe the complete and official 9/11 story.

https://www.youtube.com/watch?v=-NrASZxGu_o&fmt=18

Physics is a bitch.
……………………

No point trying to convince him.

You either own a man sized tin foil fedora, or you’re a tree hugger that navigates the world with a white cane.

I have no problem with the machine starting wars and taking out Radical Islam. But they didn’t need to kill 3000 americans to do it.

That was just pure demented evil.

If Trump wins, we may see some justice. But then again, they didn’t bat an eyelid taken out 3000, what’s one more.

#207 MF on 02.04.16 at 2:51 pm

#203 Where’s The Money Guido? on

Blatant anti semitism BS. On par with the protocols.

Embarrassed to be a blog dog today.

MF

#208 Reasonfirst on 02.04.16 at 2:51 pm

The top is in – my 94 year old dad is listing his Richmond, BC home today after 55 years. Only a few months ago we were thinking high 800s (a probably teardown split-level). Neighbours comparable just went for 1.2M.

#209 Noel on 02.04.16 at 2:56 pm

If 9/11 was in fact an ‘inside job’, keeping that a secret would be the most complex undertaking ever known to man. To not have one person leak credible evidence about the cover up over the last 15 years is such a far-fetched idea that you’d have to be mentally ill to believe in said cover up.

Seriously, believing conspiracy theories is often a precursor to full blown mental illness. If you believe 9/11 was an inside job you should talk to someone you trust about getting some therapy. See what they think.

#210 Nutbar Not on 02.04.16 at 3:04 pm

“A scary number of nutbars on this blog believe Nine Eleven was a hoax.”

************************

I think what is crazier is to believe a bunch guys who could barely fly a Cessna were able to fly 3 jetliners so accurately into buildings. 20 to 30 year Veterans flying these planes for a living have come out saying that can’t perform such maneuvers. One of which is my neighbor!

#211 Stoopid Idiot on 02.04.16 at 3:13 pm

I think it’s time for this conversation to end. This blog has more nuts than Skippy. — Garth

Common Garth.. for the most part the Dawg’s where behaving, You seeded this 100%. Using words like Maple… what did you expect. Sorry Mike, meant Mike not Mark

#212 gut check on 02.04.16 at 3:16 pm

#176 MF on 02.04.16 at 10:22 am said:
“Or are you just another nutbar blaming joos for everything?”

#192 pbrasseur on 02.04.16 at 1:09 pm said:
“Did someone steal your medication again?”

************************

Where do you guys come up with this material? Personally, I’m in awe of the sheer creative genius. Did you forget your medication! ba-ha ha ha! that’s a good one. never heard it before. the tears are streaming down my face – you sure showed *him*! And the ‘joo’ thing? brilliant! what a novel strategy you employed there! I see what you did but HOW did you think of it?

I’ll bet now that you’ve invented these comebacks I’ll probably start seeing them *everywhere* Right? don’t you agree? they’re going to catch on big time… mark my words….

#213 SquareNinja on 02.04.16 at 3:25 pm

It’s funny when conspiracy theorists purport to use logic. Logic based on limited understanding is why people thought the world was flat.

#214 maxx on 02.04.16 at 3:30 pm

Poor little GICs.
They take such abuse, it borders on tragic.
I’ll be sure to shed a tear for them whilst marinating my tush in Opunohu Bay. :-)))

#215 Where's The Money Guido? on 02.04.16 at 3:41 pm

DELETED (anti-Semitic)

#216 Julie K. on 02.04.16 at 3:43 pm

Head starts may occur as one realizes the multitude of stories, or belief systems, out there to choose from. Stories about love, finances, governments, religion, family, health, etc.

Question then becomes which one(s) to believe?

Finally comes the conclusion all stories or beliefs are both 100% correct and simultaneously 100% incorrect.

The realization no one really knows what is going on can bring comfort, humour, reality, wisdom and wonder to ones life.

There is no truth. And yet there is.

Peace.

#217 kommykim on 02.04.16 at 3:54 pm

RE:

#162 LL on 02.04.16 at 9:31 am
#138
Okay..looks it’s easy to open a TFSA account.

Let say the $$ is in the TFSA account.
Now what? What should I buy?
All stocks are in downfall!
Even “pot companies” stocks!

You should buy index ETFs or low fee index mutual funds. Some are on sale, like the Canadian index, at 2013 prices! DON’T buy individual stocks! Take a look here for some portfolio ideas:
http://canadiancouchpotato.com/about/
If that is too complicated for you, hire an advisor like Garth to manage it.

#218 Smoking Man on 02.04.16 at 3:57 pm

#209 Noel on 02.04.16 at 2:56 pm
If 9/11 was in fact an ‘inside job’, keeping that a secret would be the most complex undertaking ever known to man. To not have one person leak credible evidence about the cover up over the last 15 years is such a far-fetched idea that you’d have to be mentally ill to believe in said cover up.

Seriously, believing conspiracy theories is often a precursor to full blown mental illness. If you believe 9/11 was an inside job you should talk to someone you trust about getting some therapy. See what they think.
………….

As the CEO and chairmen of the board of WE ARE BAT SHIT CRAZY I find your post offensive and demeaning.

Do you now realize how wonderful and freeing mental illness is.

I’m Dyslexic, if it wasn’t for mental illness and a few wee glass of liquid courage I would still be on chapter one.
The most ridiculous fiction book ever written.

Up to chapter seven beotch.

Now stop your insults against mental illness, I’ve got a good mind to call up Wynnes cultural brown shirts to come and pick you and send you to re-education camp.

#219 TurnerNation on 02.04.16 at 4:01 pm

Danier leather is done. And they’d offshored some production to Pakistan. We’re done. Kanada is irrelevant.

Attn widows and orphans. ..Manitoba Telecom lost money on 1 billion of revenue last year.

#220 Stop Making Fun Of WalMark on 02.04.16 at 4:01 pm

it’s not nice. ppl talking about fractional reserve banking, subprime, stats and thermo. your being mean. walmark from sadkatoon says he cant get callback from hr. thats the metric we’re talkin about. low bar. stop talking over his hed. its not nice.

#221 JRH on 02.04.16 at 4:05 pm

#23 Thanks Mark !!

#222 TurnerNation on 02.04.16 at 4:14 pm

Wow 50% of us posters today are mentally ill for questioning a historical event. Our elites have won, control is so strong they no longer need knock on our door late at night and take us away for questioning. No our own citizens attack us in public forums.
The Mob, military pull off elaborate secret schemes all the time. You talk you die. It’s all need to know basis. Foot solldiers follow small orders.

More laughing. .US runs own military base in communist Cuba. Our so called enemies. No liberation for them! They can starve.

There’s a hierarchical command pyramid structure in the world. Each level following instructions. I work to pay taxes as instructed. Bottom feeder.

#223 Blacksheep on 02.04.16 at 4:22 pm

Deckard # 205,

“Building 7 was engineered down. Anyone who doubts it is just not wired to understand these things.”
———————————————-
Agreed, but I think it goes farther.

Some simply can not fathom the possibility they’ve been deceived by parties that were sworn to protect them.

When confronted with certain heinous realities, their mind trips into protection mode, defaulting to an outright denial of even glaringly obvious truths, all to protect the soft mental underbelly, that is, the average north american citizen.

After all, If we cant believe in:

Uncle Sam, apple pie and baseball….

What can we believe in?

#224 Nutbars Abound on 02.04.16 at 4:28 pm

#206 Smoking Man on 02.04.16 at 2:48 pm

#198 Blacksheep on 02.04.16 at 1:32 pm
Bottoms_Up # 169,

Watch this 3 min video and tell me, you still believe the complete and official 9/11 story.
…………………………………………………………..
You’ve been wearing your tin foil fedora way too long and get the dam ear buds out of your ear. Johnny Cash would be ashamed.

#225 SWL1976 on 02.04.16 at 4:29 pm

#209 Noel

Seriously, believing conspiracy theories is often a precursor to full blown mental illness. If you believe 9/11 was an inside job you should talk to someone you trust about getting some therapy. See what they think.

—————————–

If these are your thoughts or you simply align with these thoughts then you are…

A 100% cerified and slave to the state and the corporatocray that dictaes your life and your very existance. If you are fine with this than so be it, but please don’t spread your ignorance or fear towards the unknow.

con·spir·a·cy /noun / a secret plan by a group to do something unlawful or harmful.

the·o·ry / noun / a supposition or a system of ideas intended to explain something, especially one based on general principles independent of the thing to be explained.

If you think this world is all rainbows and unicrons and that none of what we talk about is possible then you should really review some history books

Let the critical thinkers think, we may just help save your bacon one day, but you obviously don’t know that yet

#226 JRH on 02.04.16 at 4:34 pm

#35 Thanks also KommyKim

#227 John Brennan on 02.04.16 at 4:44 pm

Yer a beaut Garth. Did this ever work out well. Thx again. Shouting fish in a Barrel I tell ya. We’ve been worried about the northern commies for a while.

#228 Blacksheep on 02.04.16 at 4:49 pm

Smoking Man # 206,

“No point trying to convince him.”
———————————————–
Convince no….mock, yes.

But-man is always bleating on about his bloody global warming crap and is now doing even more harm to his credibility by sharing his ‘insights’ on 9/11.

I noticed when I’ve called him on his statements, it’s usually crickets……

#229 MF on 02.04.16 at 4:50 pm

12 gut check on 02.04.16 at 3:16 pm

Not sure what on earth you are saying? Read the posts I cited. Note posts that were deleted as well.

MF

#230 Godth on 02.04.16 at 5:06 pm

“So here are some things to remember, and teach you kids when they ask, “What do I need to know to grow up?””

bwwahahaha, children teaching children.
https://www.youtube.com/watch?v=5fbvquHSPJU

The good news is that we’re in a war for survival with ourselves and there’s a resolution. The bad news is we’re in a war for survival with ourselves and we don’t like the resolution at all.
https://www.youtube.com/watch?v=_LXiSPpfM54
https://www.youtube.com/watch?v=NCv32GAUG7w

I’m sorry you were born with a small …but a big bank account and owning a hummer won’t help anyone.

Whatever Happened to Peak Oil?
http://thearchdruidreport.blogspot.ca/2016/02/whatever-happened-to-peak-oil.html

#231 acdel on 02.04.16 at 5:15 pm

#138 NoOneOfConsequence

——————————————————————–

Thanks for the guide on how it works. Personally I do trade stocks on a regular basis but (due to ignorance) was not aware on how it works within a TFSA.
—————————————————————–
To all the conspiracy theorist out there; I think the Klingon’s did it, they have the ability to cloak themselves.

#232 cramar on 02.04.16 at 5:26 pm

Garth should realize that we Boomers were around when JFK was shot. It seems there is one good conspiracy for every generation.

One should always keep an open mind on everything, whether it is the economy, the government, the leader, or world events. Things are never as simple as simple minds think they are. (Are you listening JT?) One should use thinking skills instead of swallowing the TV News or RE Board stats.

But I really find it hard to stomach a more recent conspiracy theory, Sandy Hook.

#233 Blacksheep on 02.04.16 at 5:38 pm

Deckard # 205,

“Building 7 was engineered down. Anyone who doubts it is just not wired to understand these things.”
————————————————–
Agreed, but I think it goes farther.

Some simply can not fathom the possibility they’ve been deceived by parties that were sworn to protect them.

When confronted with certain heinous realities, their mind trips into protection mode, defaulting to an outright denial of even glaringly obvious truths, all to protect the soft mental underbelly, that is, the average north american citizen.

After all, If we cant believe in: Uncle Sam, apple pie and baseball….

What can we believe in?

#234 acdel on 02.04.16 at 6:00 pm

#138 NoOneOfConsequence

——————————————————————–

Thanks for the guide on how it works. Personally I do trade stocks on a regular basis but (due to ignorance) was not aware on how it works within a TFSA.

—————————————————————–
To clarify, a few people posted suggestions which I appreciate; but the actual setup of such an account was explained very well by you.

#235 IHCTD9 on 02.04.16 at 6:32 pm

#193 Centre Wing on 02.04.16 at 1:10 pm
Thank you for the responses to my question in #154. As for Garth’s point about it being solvent, I suppose there is the chance that the province of Ontario goes bankrupt. And as for remaining in the same place of employment, my wife is a RN and the pension plan is the same for all Ontario hospitals.
———

Let me get this staight, your wife is an RN in Ontario and you’re not worried about her future employment?

Do you read the news? Just a quick heads up, RN’s are getting their hours and positions cut all over the Province. Replacements when the time comes will be via cheaper RPN’s.

Another heads up, Ontario won’t be going bankrupt before every RN in the Province is laid off. The current cuts are due to budget overruns, that’s it. There is no additional revenue available to support the current staff, and that is why all these cuts are happening.

If I were you, I’d be shovelling it like mad into your personal investments.

I hope your wife has 25+ years of seniority minimum…

#236 Ronaldo on 02.04.16 at 8:47 pm

#208 Reasonfirst on 02.04.16 at 2:51 pm

”The top is in – my 94 year old dad is listing his Richmond, BC home today after 55 years. Only a few months ago we were thinking high 800s (a probably teardown split-level). Neighbours comparable just went for 1.2M.”

Nothing compared to what is happening in Mt. Pleasant area along the border between east and west. Here is one recently sold at Ontario and 21st. Two houses west of the boundary. This is no doubt going to be a teardown which now effectively makes lots in that area valued at 2 big ones. Hilarious really.

http://www.clairrockel.com/ActiveListings.php/Details/655/8-west-21st-avenue-vancouver-bc

#237 macroman on 02.04.16 at 10:40 pm

#2 Rob Whistler and #4 Boyd Griffen, you sure you’re not Rob Boyd?

You both seem to want to be first.