The fizzle

Worries our macho central bank will raise rates again before Christmas have just fizzled. In fact, there’s a big and sudden attack of flaccid happening as one of the manliest economies in the world goes limp.

Here’s why, and what it means.

First, exports are tanking, lousy news in a country which lives off them. In fact the decline over the last three months is one of the biggest ever experienced, and news of it was enough to drop the dollar well below the 80-cent US levels. The loonie has now given up more than 3% in the last three weeks, off a two-year high.

Second, crashing exports mean our boffo rate of economic growth is doomed. Forget that 4.5% rocket we were on, as it now seems we’ll be lucky to hit half that rate of expansion. In a country with a massive over-spending problem at every level of government and a 53% top marginal tax rate, slower growth means more deficits and, yep, higher taxes. Stuff your TFSA and RRSP!

Third, the Energy East pipeline is dead. Kaput. Murdered by regulation, strangled by red tape and savaged by greenies plus the province of Quebec. TransCanada threw in the towel on Thursday. So over $16 billion won’t be spent building a conduit for Alberta oil to reach East Coast refineries. No pipe manufactured, no crews planting it, no spinoff economic benefit, no boost for the cowboys or the Maritimers.

Fourth, people are losing confidence, according to the latest polling. More expect real estate to flatline or decline, a fact borne out in the latest housing stats from the country’s largest market. Sales dropped 35% last month and have slumped now since the spring. Move-up buyers have shrunk in all major markets with low-end condos picking up the slack. Unfortunately the new universal stress test, coming in early 2018, is expected to impact this segment of the market particularly.

Fifth, political turmoil and public angst are the result of Ottawa’s curious obsession with thwacking small business owners. After gutting TFSA contributions and creating a new tax on higher-income earners, the government is targeting doctors and incorporated professionals, and catching farmers, hairdressers, IT guys, vets and contractors in crossfire. The expected result is more expenditure on tax compliance, little added revenue, and less entrepreneurial activity.

Sixth, this is happening at the same time the US is actively considering slashing its corporate tax. If that Trump guy gets his way, the business rate would crash from 35% to just 20%, making American companies more competitive and profitable. Washington is also debating letting corporations immediately write off 100% of the cost of new equipment and expansion. If that comes to pass, it would be a serious incentive for Canadian firms to relocate. After all, corps have no loyalty.

So the market odds of a rate hike when the Bank of Canada next sets its policy on October 25th are a skinny 20%. Says CIBC Economics: “After a rough two months, it got uglier for Canadian exports in August. That supports our call for a 2% or so growth pace for the third quarter, and for the Bank of Canada’s ‘monitoring’ of the economy to translate into a pause in interest rate hikes.”

And here’s the seventh reason we may be pooched for a while.

Yes, the coolest dude in public life at the moment, Jagmeet Singh. He swooned the NDP by signing up 47,000 new members and now has a media love-in going on that’s made millions of women forget all about Justin’s socks and tats. JS is the youngest federal leader (38), the only one strutting around in bespoke suits, with a law degree, jiu-jitsu training and a rainbow turban that makes the eligible bachelor the tallest point in the room. Impossible to miss. He’ll dominate social media and the airwaves for all of 2018, just as T2 gets bogged down in the morass of deficit spending, excessive taxation and the awesome stupidity of legalizing weed.

Why’s the Jag guy bad economic news?

Duh. He’s a socialist. Markets and investors hate that leftie stuff. They want expansion, inflation, wealth-creation and obscene, trickle-down profits. The best way to get them is the Trumpian route of deregulation, tax cuts and less government. Instead, what does Singh promise?

Yet two more tax brackets for high income-earners, pushing the top levy to almost 60%. A capital gains inclusion rate that rockets from 50% to 75%. A 40% estate tax. An increase in the overall corporate tax rate with fewer allowable deductions. Plus, a guaranteed annual income for everyone, $4 billion more a year doled out to seniors, a $15 minimum wage everywhere, an end to government support for the oil business (our primary export) and deficits from here to eternity.

Yes, the Dippers have never won office. But the kids love this guy. He knows it. Shiny new thing. Prepare.

316 comments ↓

#1 Yaroslav on 10.05.17 at 6:21 pm

When have trickle-down economics ever trickled down anything to anyone but the richest at the very top?

#2 Toronto is a SJW city! on 10.05.17 at 6:21 pm

In Toronto’s downtown core, they prefer to hire SJWs and token demographics to prove that they are not sexist against white bread Canadian-born-and-raised middle class women and trans-people sexual minority…No wonder the Canadian loonie is pooched and only on a downwards collapse.

#3 Zippy on 10.05.17 at 6:22 pm

First? And also, first comment ever! And I am the biggest fan of Garth! And I wear a turban just like the socialist mentioned above lol

#4 Alberta Ed on 10.05.17 at 6:22 pm

You forgot to mention the payout for the ‘Sixties Sweep’.

#5 Victoria Real Estate Update on 10.05.17 at 6:25 pm

A HOUSING BOOM IS ALWAYS FOLLOWED BY A HOUSING BUST

History has shown this to be true with housing bubbles all over the world as proof.

THE BASIC SEQUENCE OF EVENTS OF THE HOUSING BOOM – BUST CYCLE

THE BOOM YEARS:
* Policy makers stimulate their country’s housing market by dramatically lowering mortgage lending standards (after 2000 in Canada), sometimes even after the market had been relatively stable, healthy and functioning normally for a number of years with prices in line with economic fundamentals (for example: 1995 – 2000 in Canada, with highly stimulative 5% down payments already in effect since 1992).
* Prices (obviously) skyrocket as a result. The party is on. Gains in house prices far outstrip gains in incomes, creating weak air pockets of price support that will have no chance of stopping the inevitable price decline as the boom turns to bust.
* Home ownership levels surge, dramatic increases are seen in real estate investment, speculation, construction activity and HELOCs.
* Household debt-to-income levels skyrocket, creating a threat to the economy that only goes away after the inevitable price bust plays out and households deleverage.
* The mainstream media and those in the housing industry ignore the financial risks involved with taking on a mortgage. Instead they choose to spread (often false) FOMO information to convince the uninformed and naïve herd to keep buying. The herd keeps buying… until it stops.
* Typical industry-generated “buy now!” logic might sound like this: “Housing bears predicted a major price correction 9 years ago. They were wrong then so they’ll always be wrong. Therefore, there will be no correction.”
* Anyone who disagrees with the industry’s hype is accused of being a “gloom-and-doomer” because they‘re angry about “missing out” (even though it’s almost always a “doomer” who correctly predicts the depth of the price correction in a housing bubble).
* Policy makers, bankers, economists, etc. deny the existence of a country-wide housing bubble, or only admit at the peak that bubbles exist in certain cities, and only as a result of recent activity, which they are not responsible for in any way.
* With lending standards already relaxed and prices peaking at extreme levels, more stimulus (example: BC’s down payment loan program) is applied to the housing market in an attempt to keep the party going and to avoid the inevitable. This last minute stimulus – that pushes even weaker applicants into the bubble market at even higher prices – naturally makes the inevitable price bust more severe.
* Adding more and more new stimulus to the housing market works for some time… until it doesn’t.
* The economy becomes more and more dependent on abnormally high levels of activity in housing (no province comes close to BC in this regard), making it increasingly unhealthy. Major problems with the economy don’t become apparent until house prices stop rising.
* Many mortgage holders become dependent on paper equity from rising property values to pay the bills (BC has a – 8% savings rate), masking financial problems in many cases. These financial problems become apparent after house prices inevitably stop rising.
* As affordability continues to sink, mortgage broker-assisted mortgage fraud rears its ugly head (in a lot of cases), allowing even more applicants with no money and low credit scores to get into mortgages at extremely bloated prices.
* Policy makers ignore this mortgage fraud until mortgage lenders start to implode (liar loans help to push prices (temporarily) higher after all). Bailouts often happen, sometimes with little to no mainstream media coverage. Sometimes these bailouts are officially called something else.
* Highly leveraged speculation (gambling) increases dramatically as prices soar toward the peak and homes are treated as commodities. Those in the housing industry fabricate false stories to explain the sudden and extreme increase in demand created by rampant speculation (example: wealthy buyers from China “suddenly discovered” our city).
(continued)

#6 rknusa on 10.05.17 at 6:28 pm

re: In fact, there’s a big and sudden attack of flaccid happening as one of the manliest economies in the world goes limp.

what about NAFTA?

expect Donald to give notice by the end of the year he is pulling out

#7 Popeye the sailor man on 10.05.17 at 6:29 pm

How will the 40% estate tax likly effect the following;

RRSP’s
TFSA’s
LIRA’s or LIF’s
Non registered investments
Real Estate
Life insurance
Cash

#8 Keith in Rio on 10.05.17 at 6:29 pm

Get a second passport.

Get your money out of the country.

When you’ve established yourself, burn the first passport on the beach and post the video on You Tube.

#9 Pete on 10.05.17 at 6:30 pm

I’m an NDPer and I like the guy. If what you say is true about Jagmeet I can’t vote for something so reckless. I hope your wrong Garth.

Read his platform. I did. — Garth

#10 Stick Man on 10.05.17 at 6:30 pm

One word…. OUCH!

#11 Victoria Real Estate Update on 10.05.17 at 6:30 pm

THE BUST YEARS:
* House prices stop rising as the bubble reaches its maximum size. Then prices begin to fall. Each city has a different start date, but end up recording the biggest yearly price drops in the years that all cities experience falling prices together.
* After house prices have been in decline for some time and the public is well aware of it, the real estate industry finally acknowledges that prices have fallen. This admission is immediately followed by the claim that the correction is over (example: Toronto right now). The market proves them wrong, but that doesn’t stop those in the industry from calling the bottom every day (for years) until the actual bottom is reached. The herd learns to ignore their sales pitch.
* Policy makers do everything they can to limit the depth of the price decline, but the powerful momentum of the correction severely limits or renders completely ineffective any additional stimulus. Prices naturally fall back to the long-term mean (approximately) which was established before lax lending standards were implemented.
* Liar loans and highly-leveraged speculation played a big role in bloating prices in some cities which dramatically weakened the underlying price support structure of those markets. Cities that experienced the highest levels of speculation (example: Toronto, Vancouver and Victoria) end up experiencing particularly brutal price busts.
* For years the economy had been artificially boosted by the effects of rising house prices. That ends. The party ends. The economy is crushed by the effects of falling home prices.
* The multi-year price decline squashes the economy as the wealth effect reverses, jobs are lost and incomes fall (in a lot of cases). Consumer spending (which accounts for almost two-thirds of the Canadian economy) plunges.
* A dramatically weakened economy leads to further drops in house prices. The faulty (bubble) price support structure of the housing market – based on years of lax lending standards, liar loans, highly leveraged speculation, etc. – simply buckles under the extreme downward force of the price decline.
* The multi-year price correction finally hits bottom, but not before overcorrecting (in most cases).
* The correction is much deeper than almost anyone could have imagined, leaving a significant chunk of households in financial ruin. Some will be ruined for life.
* Policy makers, who had repeatedly calmed the herd by (arrogantly) claiming their country was different and that they could engineer a soft landing by constantly adjusting the lending rules, realize that no amount of stimulative policy could have prevented the bust part of the boom-bust cycle (the hard landing).
* Policy makers blame speculation and other things for the bust and claim that nobody could have seen it coming.
* Those who saw it coming and put their buying plans on hold have plenty of time to buy (if and when they feel like it) at shockingly lower price levels – price levels that are in line with their market’s long-term mean. Price levels that are, once again, supported by economic fundamentals.

#12 crossbordershopper on 10.05.17 at 6:32 pm

Mr Singh is a novel approach that the socialists, NDP, Progressives, CCF, the names change over the last 60 years but the end result is simple.
little people, for lack of a better word, now think their opinion matters, and their vote too. So. why wouldnt at least 50% of people in Canada vote for the NDP. the list Garth listed is great, $15 bucks for a kid to do nothing, just show up and look busy. cheques for seniors, great, you see, millions of people, like 10 million or so, dont pay tax. nothing nodda, they pay some sales taxes, but get gst cheques to offset that.
when you have no skin in the game, who cares, like who cares, just make sure the cheque is deposited in my account at the end of the month.
I dont understand why people who are poor dont vote, they should all vote NDP. i vote conservative for my best interest, and they should for theres. the problem, is there are a lot more poor people than middle class and rich. it doesnt look good, its more taxes, harder to make a buck moving forward.
so… go to America, if you make it good, stay there, if not, come back to Kazakstan and eat your goverment cheese and weed while you have a tim’s double double and wait for your monthly cheque.
free roll of the dice.

#13 kommykim on 10.05.17 at 6:32 pm

I doubt conservatives have to worry about an NDP election win. So it doesn’t really matter what Jag dreams about.

#14 Keith in Rio on 10.05.17 at 6:34 pm

Forgot to add………being loyal to any country, is just as stupid as being loyal to any corporation that gives you a job.

Brasil is already what “Kanaduh” is soon going to become…….except it’s hot every day, taxes are lower, your money goes about 5 times farther, the people areuch nicer and the women are the hottest on the planet.

#15 conan on 10.05.17 at 6:34 pm

Jagmeet is going to road trip and take some seats away from the Cons in Sask… and Manitoba. T2 has Quebec sewn up, that is why the other parties hate/scared of him.

Not a good time to be a Conservative, how this blog became a bastion of Trumponium nonsense is one of life’s mysteries.

https://www.youtube.com/watch?v=I87UMp7WtFM

#16 I’m stupid on 10.05.17 at 6:35 pm

JS will never be elected. The Ndp and liberals are fighting for the bottom of the barrel.

How stupid are kids today? They must really be stupid to think they’ll be able to get a guaranteed pay cheque without working.

Then again maybe I’m the stupid one!

#17 crowdedelevatorfartz on 10.05.17 at 6:36 pm

@#202 totally financially SCREWED canadian millenial
“I love how conservatives and boomers have been so trained and programmed their entire lives to be shills for massive corporations. They never blame the corporation for its actions, always the government.”
+++++++

Whereas you just blame Boomers for everything.
So much simpler that way.
Now I understand.

#18 Just Around the Corner on 10.05.17 at 6:36 pm

And cue all those who correctly noted that that ‘path to normalization’ would both be short and stunted…

The calls from 2015 for rates to normalize in the 5-6% range over two years are now forgotten dreams. All those who said that rates would not do that; that there might be a one and done approach for a while; or actual rate decreases were mercilessly mocked with the mantra ‘rates will rise.’ Of course, those naysayers looked at the economic head winds and correctly noted that there was nothing to sustain rate increases.

Once again, everyone will be waiting another six months or a year for that ‘next’ economic condition or toothless measure to be announced and implemented, which should herald the demise of the market…..for the 9th year in a row that is.

Lets recap now – rates not rising as fast as they should to have an impact; new B20 rules will not be ‘fall’ but ‘winter’ regs and will be counteracted by loosening the rules for the self-employed and new comers; TO stats mixed, potentially signalling a flatlining market at best; and Metro Vancouver still cooking hot in the condo and townhouse sectors with no cooling actions on the horizon despite a new government.

Oh well, you can now write off 2018 as the year of the correction, collapse, slow melt, parabolic decline, whatever label you want to use.

Lol – one step forward and two step backwards for this RE market for 9 years and counting now.

Just as everyone gets their popcorn out to watch the slow mo market correction movie, the theatre announces that ticket prices have gone up 30% and you have to pay if you still want to watch…and the movie is postposed for another 6 months

#19 Robert Daisley on 10.05.17 at 6:38 pm

Any rise of the NDP seems like a problem for the Liberals and a boon for the (supposedly pro-business) Conservatives….that’s how Harper managed to retain power for as long as he did.

#20 Just Around the Corner on 10.05.17 at 6:39 pm

Hey,

VREU – stop recycling your same posts for the past two years.

We get it – the market is in a bubble – sales are declining – but no crash or price correction.

Its the same story of wily coyote hanging off a cliff, but for two years now – according to your predictions.

#21 Mattl on 10.05.17 at 6:40 pm

I can’t tell you how I excited I am to be going into my prime earnings years with guys like JT and JS coming into power. Feel priveleged to be part of the generation that gets squeezed.

#22 AK on 10.05.17 at 6:40 pm

“So over $16 billion won’t be spent building a conduit for Alberta oil to reach East Coast refineries. No pipe manufactured, no crews planting it, no spinoff economic benefit, no boost for the cowboys or the Maritimers.”
——————————————————————-
Yeah, but we have Weed. LMFAO….

#23 Screwed Canadian Millenial on 10.05.17 at 6:40 pm

I know ConBoomers/BoomerCons (let me know which you prefer) have a hard time with geography, but it seems to me if Alberta wants to export its oil overseas, a pipeline through BC makes a hell of a lot more sense than a pipeline to the corrupt Irving family, crossing the entire fricken continent.

Harper spent 10 years trying to make Canada an “energy superpower”. Maybe he should have realized Alberta is landlocked and got a few pipelines done. What a failure.

2006: PM brands Canada an ‘energy superpower’
https://beta.theglobeandmail.com/news/national/pm-brands-canada-an-energy-superpower/article18167474/?ref=http://www.theglobeandmail.com&

Oops. Going full petrostate wannabe for 10 years and then flailing his arms wondering what happened when oil crashed to $40.

Worst Prime Minister in Canadian history. No wonder the BoomerCons love him.

#24 Spock on 10.05.17 at 6:43 pm

From Yesterday’s Blog:
#202 Screwed Canadian Millenial on 10.05.17 at 3:38 pm

I fixed it for you SCM.

I love how cry baby millenials (and SCM is a shining example) have been so trained and programmed their entire lives to be losers and cry babies for the political sheep. They never blame the liberals or themselves for their actions, always the people who are doing better than them.

————-

#202 Screwed Canadian Millenial on 10.05.17 at 3:38 pm
I love how conservatives and boomers have been so trained and programmed their entire lives to be shills for massive corporations. They never blame the corporation for its actions, always the government.

#25 AK on 10.05.17 at 6:46 pm

“Yes, the Dippers have never won office. But the kids love this guy. He knows it. Shiny new thing. Prepare.”
——————————————————————-
Dippers will never win the Federal office.

#26 maka on 10.05.17 at 6:48 pm

Jag guy: Two more promises to your list. Masses will love you.
– completely abolish TFSA from 2020
– Bring back 40-year amortization

And get few tattoos.

#27 Spock on 10.05.17 at 6:49 pm

The last one out of the door can switch off the lights.

and please switch it off considering the Hydro prices.

#28 John Smith on 10.05.17 at 6:51 pm

Question: If the OSFI goes ahead an implements the stress test, on uninsured mortgages, originating from the Big 5 banks only, how much of an impact is this really going to have? Won’t people clever enough to find a way to magically scrape together 20% down, also be clever enough to just switch to a Credit Union to obtain their mortgage?

Am I missing something here? If the Credit Unions aren’t subject to the stress test, isn’t this a huge loophole to the whole proposal???

#29 TnT on 10.05.17 at 6:51 pm

Bad timing for the Laurentian Consensus.

They finally purged the Reform Party backed by Big Oil out West (thanks to depleted oil $) only to be sideswiped by the rising Post Modern Communists swelling NDP ranks.

I don’t think Scheer has the charisma to skate up the middle.

I suspect The Laurentian Consensus wins again in the end, they will out Left the NDP then pour that old money all over T2 and out spend Scheer to victory.

#30 Willy H on 10.05.17 at 6:54 pm

“Forget that 4.5% rocket we were on, as it now seems we’ll be lucky to hit half that rate of expansion.”

___ ___ ___

Kinda thought that Q2 StatsCan report was incongruous twaddle. No surprise here.

“Third, the Energy East pipeline is dead. Kaput. Murdered by regulation, strangled by red tape and savaged by greenies plus the province of Quebec.”
___ ___ ___

Not sure that regulation and environmentalism should take the hit for this decision. The bottom line is that EEast is not presently economically viable with oil hovering in the $50/barrel zone. Especially very dirty oil (Western Canadian Select) that trades at 70% less than West Texas Intermediate.

#31 Wog on 10.05.17 at 6:55 pm

Aye keep weed out of this!

#32 JSS on 10.05.17 at 6:59 pm

Jagmeet Singh = HOT

I’ll vote for him.
Plus he’s got a growing legion of women fans.

#33 Sixteenth Minute on 10.05.17 at 6:59 pm

The oil business has no future, certainly not one that justifies huge spending on new infrastructure. It’s not going to disappear overnight due to things like powered flight and shipping, but it’s not going to grow, either. Renewables have it beat – if you have any doubt, think hard about the announcements from all the car companies about how they’re going fully electric just a few years from now. Think about how fully loaded costs for solar are now cheaper for large-scale generation on-site than the cost of merely transporting power that has been generated elsewhere.

It’s one of those things that nobody in the confidence game admits to, lest stock prices collapse. We really want to build these pipelines regardless of 15-25 years out because we’ll have left the company and sold off all our stock in five to ten! But darn, those mean regulators…

#34 Huh! on 10.05.17 at 7:00 pm

Yeah, because keeping weed illegal is sooooo smart.

You are a moron.

~ Rex Tillerson

#35 wallflower on 10.05.17 at 7:00 pm

doogs rock!

#36 Brian Ripley on 10.05.17 at 7:03 pm

I have my Vancouver vs Toronto housing chart up.
Twins … but separated at birth.

http://www.chpc.biz/compare-toronto–vancouver.html

Vancouver may have led the FOMO crowd up the ladder, but Toronto is sending them down the snake.

#37 wallflower on 10.05.17 at 7:04 pm

And now that I have got beyond the photo pic… Buy American is going to hammer Canada. The MDAs of our world (MacDonald Dettweilers) will be exiting…
Pile this on to the other items mentioned.

#38 dakkie on 10.05.17 at 7:08 pm

Update on the Deflating Housing Bubble in Toronto

http://investmentwatchblog.com/update-on-the-deflating-housing-bubble-in-toronto/

#39 Smoking Man on 10.05.17 at 7:10 pm

I hope the rainbow turbanator takes half of the lonny left vote. Shear gets a majority and we repeal and replace the Dr Tax.

Bonuce my prediction that T2 is a one term wonder.
Looks like USDCAD is ready for blast off.

#40 Blobby on 10.05.17 at 7:12 pm

Why is legalizing weed awesome stupidity?

#41 FLHTK on 10.05.17 at 7:13 pm

I’m not voting for this Singh guy. I’m not liking him.

#42 Scully on 10.05.17 at 7:16 pm

The Garth Diet: well I was hungry but I just lost my appetite…and possibly my grasp on reality. South of the boarder they have Capitalism on steroids and here in Canada we are racing in the opposite direction. Should be interesting to see which economy gets screwed. Any bets? I miss the old days – and I’m not even old!

#43 Money Miser on 10.05.17 at 7:16 pm

Sucks for Canada, awesome for my VUN ETF holding. Huzzah!

#44 mirza on 10.05.17 at 7:20 pm

@Silver_Watchdog: Juwai listings for #VanRE : How many of these are not on MLS? @REBGV https://twitter.com/Silver_Watchdog/status/916069166712487936/photo/1

#45 Pete from St. Cesaire on 10.05.17 at 7:22 pm

As for the pipeline..who cares. Ship it by rail. We have the railroads in place already. Why spend years building a pipeline with all of the expenses, the expropriations and related battles, the first-nations land use negotiations, the environmental impact and it’s costly assessment. This pipeline would most likely never get built anyway; some political party would make it an election issue and cancel the project upon winning, then the taxpayer would be on the hook for billions in cancellation penalties, etc and a couple of years later another government would reinstate the whole thing and start over.
Another reason why moving oil by rail is preferable. You can re-route trains in case of trouble or labour strikes or disasters or sabotage or war, or in the case of newer better refineries opening up elsewhere, or in the case of a railway line disruption/washout, but you can’t re-route a pipeline. If you want more jobs, make them railway jobs; new tank cars, track improvement, more trains and more crews.

#46 JustMe on 10.05.17 at 7:22 pm

#25 AK
Dippers will never win the Federal office.

—————————————————————————-

They used to say that about Alberta.

#47 Pete from St. Cesaire on 10.05.17 at 7:26 pm

As for Jagmeet Singh; if I didn’t have the Bloc to vote for, I’d be voting for him.

#48 Millennial Mantra on 10.05.17 at 7:30 pm

Vote NDP. Orange is the happiest colour.

Need proof?

http://readysetsunday.com/wp-content/uploads/2016/10/2014_orange_is_the_happiest_color-01.png

If you aren’t convinced yet, this should do it. Jagmeet Singh’s campaign manager:

https://pbs.twimg.com/media/C1iiTJqUAAAw3iD.jpg:large

#49 Lawless on 10.05.17 at 7:37 pm

Disagree on Jagmeet, Garth. The more valid legitimate lefty candidates the better the odds of a conservative government. Big part of the reason that douche-tard Stephen lasted as long as he did.

#50 Nonplused on 10.05.17 at 7:38 pm

Good lord imagine if the Cons and Libs split the vote and singed gets in! Venezuela here we come. No reason to vote Turdeau for another term though he’s not much better.

#51 Gimme Dat on 10.05.17 at 7:39 pm

Jagmeet Singh just wants to give away free chocolate bars to everyone for life.

Gimme dat. Gimme dis. I don’t need to work, let the government pay for me to live.

Canada has waaaaaay too much socialism already.

The multicultural, transsexual, communist dream is alive in Canada.

#52 Smoking Man on 10.05.17 at 7:39 pm

Finally Tomorrow.
Blade Runner 2049

#53 SimVan on 10.05.17 at 7:40 pm

Screwed Canadian Cry-Baby

“I know ConBoomers/BoomerCons (let me know which you prefer) have a hard time with geography, but it seems to me if Alberta wants to export its oil overseas, a pipeline through BC makes a hell of a lot more sense than a pipeline to the corrupt Irving family, crossing the entire fricken continent.”

+++++++

I know you have a hard time with paying attention to anything but your own song of the greatest sadness and despair played by the loneliest violin.

Anyone who knows anything about Canadian regional politics knows getting a pipeline past the tree hugging socialists determined to kill BC’s economy is a failing venture.

https://beta.theglobeandmail.com/news/british-columbia/ndp-to-defend-kinder-morgan-pipeline-approval-in-bc-supreme-court/article36480060/?ref=http://www.theglobeandmail.com&

https://globalnews.ca/news/3660502/trans-mountain-pipeline-is-not-in-b-c-s-best-interest-says-bc-ndp-government/

Perhaps you should wipe the tears from your eyes, fire up your shiny MacBook, and get caught up on the news.

Before you reply with some asinine comment I am neither a Boomer nor a Conservative.

#54 Debtslavecreator on 10.05.17 at 7:41 pm

Another young, brainwashed by radical left wing academia, well meaning but catastrophic idiot
As the economy continues its stagflationary depression and sinks further and further into its inevitable monetary and sovereign crisis , idiots like this guy and another version of Justin Marx will continue to steal and destroy what’s left
These radical left morons have been in charge of Ontario for well over 10 years and now federally and you are in the 2nd inning of what will be a stunning breakdown in the economic and social status of this country
The government is coming for everything
Idiots like JT and this Dipper are merely signs of how sick the system is
Government and the BofC are the biggest takers of your income by far and somehow these left wing crazies and the dumb , brainwashed voters who elect them somehow think even more government theft and intervention is the answer ???????????????

#55 Smartalox on 10.05.17 at 7:43 pm

Jagmeet Singh has decided to stay out of Parliament until the election in 2020. There’s a lot of opportunity there to demonstrate that he’s just an empty suit with a gimmick.

The Liberals won in 2015 by taking votes from the NDP. In the next election, they’ll win by taking votes from the Conservatives. Watch them ram that pipeline through to the west coast, and bump the TFSA Limit to 10k.

Scheer can deregulate everything he wants. If he can’t get the small ‘b’ bigots and the red rose Tea party elements in his caucus under control, he won’t have anything left.

#56 Rupinder Jhasi on 10.05.17 at 7:43 pm

So, for some females, their vote is determined by how the candidate looks? That is quite superficial. God forbid that any males state that their vote for female candidates are determined by their appearance.

On another note, what KIND of lawyer is JS again?

#57 Lost...but not leased on 10.05.17 at 7:44 pm

Suggest we have a ring match between pugilist Trudeau and martial artist Singh ( sorta like the recent Mayweather vs. McGregor match ). Scheer could ref?

Could be interesting…

#58 Ex-Cowtown on 10.05.17 at 7:48 pm

#33 Sixteenth Minute on 10.05.17 at 6:59 pm
The oil business has no future, certainly not one that justifies huge spending on new infrastructure. It’s not going to disappear overnight due to things like powered flight and shipping, but it’s not going to grow, either. Renewables have it beat – if you have any doubt, think hard about the announcements from all the car companies about how they’re going fully electric just a few years from now. Think about how fully loaded costs for solar are now cheaper for large-scale generation on-site than the cost of merely transporting power that has been generated elsewhere.

It’s one of those things that nobody in the confidence game admits to, lest stock prices collapse. We really want to build these pipelines regardless of 15-25 years out because we’ll have left the company and sold off all our stock in five to ten! But darn, those mean regulators…

+++++++++++++++++++++++++++++++++++

You must be smoking the crack that Jagmeet wants to legalize (seriously, he wants that legal too). Renewables, like socialism, have been a complete disaster everywhere they have been attempted. It takes nothing more than a few simple calculations on the back of an envelope to show that renewable energy makes no logical sense whatsoever and is, ironically, completely unsustainable.

Electric cars only exist due to massive government tax interference and coercion. Any jurisdiction that removed tax subsidies for electric cars has seen sales collapse to near zero.

The free market has said “NO!!!!!!” to renewables a thousand times over, but the government hasn’t got the message yet; it still caters to a small, vocal, bully group of Vegan-ISIS environmentalists who are in denial of the most basic grade school science.

Trump is 100% correct; Venezeula is a shining example of Socialism faithfully executed. Eco-Socialism is merely Marxism’s latest search for, as Jacques Parizeau put it, “a winning question”. It will end badly. It always does.

The only question will be how much damage Eco-Socialism does to Canada on the way out the door.

#59 Rexx Rock on 10.05.17 at 7:48 pm

#8 Keith in Rio
I think Keith may be right.In a few years some people will wake up and see all the theft our goverments are doing and leave our beloved socialist country.
New tax grabs are nothing new.It always come to a point when the idividual says it can’t take it anymore.They make a change and say its over,no more.I think a 65% marginal tax bracket will be the final straw.

#60 Livin Large on 10.05.17 at 7:50 pm

Oy, again with this “gutted TFSA contributions” canard.

Oh great one, you know that T2 didn’t actually gut anything. You, maybe more than anyone, know that Ole Helmethead goosed the contribution limit by 100% in the run up to the last election in a rather cynical attempt to buy 4% of the vote from those who were already contributing the max.

Now, had T2 reduced the contribution limit from the pre-goosed level then this wouldn’t actually be faked news.

#61 Dumb and Dumber on 10.05.17 at 7:53 pm

The Dippers are just as useless as the other two main parties. Look at Alberta. The Dippers haven’t implement any of their major campaign promises. Campaign promises are a joke that only the dumbest take seriously…but apparently the dumbest includes 89% of our country’s voters which is roughly the share of votes the 3 main parties take.

#62 Gentle ,Loving Kindness on 10.05.17 at 7:58 pm

#42 Money Miser on 10.05.17 at 7:16 pm
Sucks for Canada, awesome for my VUN ETF holding. Huzzah.
…………
VUN.T is recovering, I believe, because the $CDN/$US is falling. The mostly $US equities in this fund are going higher in $CDN terms. What ever works !!

#63 ANON on 10.05.17 at 7:58 pm

Politics, schmolitics. Sign of the times. :)
Mighty Math decides the outcome, and math is not requiring votes, event though the participation rate for voting against math is at an all time high.

#64 Dumb and Dumber on 10.05.17 at 7:59 pm

@ #1 Yaroslave (pronounced: You’re-a-slave)

Garth was being mildly sarcastic with that comment. But it takes an appreciation of the subtleties of communication to recognize this. You are apparently part of the 89% of the voters I was referring too in my earlier comment.

Stop being a slave to knee jerk viewpoints and learn to read between the lines!

#65 Frank Blood on 10.05.17 at 8:00 pm

Thanks ‘becers. Why don’t you have a separation referendum again, hopefully it will be successful. Take all the SJW’s with you so the rest of Canada can go on with building a great nation. You’ve been holding us back for 150 years.

#66 I thinks I know something on 10.05.17 at 8:04 pm

Well, so much for rising interest rates. Rates will probably be going down in the near future. Maybe even into negative territory.

And so, GTA RE (especially SFD) will NOT be going down in value. Waiting for the last 10 years has been a fools game. It will continue to be so.

Rates will not decline. — Garth

#67 Jay on 10.05.17 at 8:05 pm

# 23 SCM
What do you think is better for Canada, refining Canadian oil in Canada for use in Canada (think buy local-isn’t that a millennial theme?) or buy oil from stand up countries like Venezuela and Saudi Arabia (think Women’s rights – women will be able to get drivers licenses next year! Sunny ways Sunny ways). Those evil Irvings, creating high paying jobs for Canadians in Eastern Canada…how dare they?
Why is Alberta being landlocked relevant? It is part of Canada. If Alberta succeeds so does Canada.
The better Canada does the less likely you are to be “screwed”.

#68 earthboundmisfit on 10.05.17 at 8:09 pm

He’s destined to do nothing but hasten the demise of the NDP in Quebec. The overt display of non-secularism is going to disturb a majority of Canadians.

#69 Bdog on 10.05.17 at 8:09 pm

So just like that the normalizing of rates is a pipe dream now huh. I give up

#70 Lost...but not leased on 10.05.17 at 8:10 pm

Jagmeet Singh…
not exactly an overwhelming support by his own party…almost 50% did NOT vote for him…

Seems his” turning point” -best move was to address a female heckler last month with some “diversity and love” mantra…(if this was a male heckler can be sure they would’ve been tackled and handcuffed….but IMHO this was all staged).

His platform it typical naive moonbeam socialist/communist…even the provincal NDP gov’ts in BC and Alberta would not go near them.

Sad thing is..all our Federal political leaders are under 40..is this a warning sign?

#71 Screwed Canadian Millenial on 10.05.17 at 8:11 pm

#52 SimVan on 10.05.17 at 7:40 pm

LOL!!! Harper was such a failed, weak leader that all it took was a few enviro hippies in BC to stop his ” Canadian energy superpower” dream.

You ConBoomers are even more pathetic than I thought.

#72 Old Dog on 10.05.17 at 8:14 pm

I thought Trudeau was scary with his endless deficits. I think Jagmeet is going to make him look like a choir boy. If the younger generations want to go down this route, good luck on that. I would suggest voting for someone you think is cool is probably not the best way to elect a leader for your country. I do believe that top 20% who pay 75% of the taxes will go elsewhere or find ways to reduce their income. People don’t mind paying their share of taxes, but there comes a point where they say, enough. Wanting to impose a 40% tax on estates over four million is not going to fly. When you die as a Canadian you already pay a capital gains tax on your holdings (not your house) and a one and a half percent probate fee. That’s a substantial amount of money if you have investments. If The NDP ever did take power and institute this, I guarantee my estate will always be under that $4,000,000 number.

#73 Trojan House on 10.05.17 at 8:16 pm

JS and the NDP want the government to be your mother. Can they make my lunch, do my laundry and tuck me in at night as well?

#74 Stone on 10.05.17 at 8:22 pm

#61 Stone on 10.05.17 at 8:18 pm
Gloomy post today. I recommend maintaining a balanced and diversified portfolio. Rebalance annually or as needed. I went back and researched a simple 3 ETF portfolio (bond 40%, CAD 30%, and USD 30%) all the way back to 2004. This way, I could see what the impact would be on someone who retires just before the spiky drop in 2008-2009. Impact a couple years after the fact. Profitable portfolio above where it was prior to 2008. Take that same portfolio to the present. Result? Very profitable. About an 8% return compounded. So, dire news today. Overall though, it all appears to be irrelevant in the grand scheme. Patience and discipline pay off nicely.

Portfolio today sitting at 6.95%. Good times. ZPR dividend coming in tomorrow which will hopefully raise the return further.

—-

Forgot to mention. That’s 8% not counting the distributions. With the distributions, it’s well over 10%. Beautiful.

#75 Raging Ranter on 10.05.17 at 8:25 pm

Pete from St. Cesaire, Google ‘Megantic’. Then come back here and lecture us on the benefits of oil by rail.

#76 JustMe on 10.05.17 at 8:32 pm

Andrew Weaver chastises NDP government for not closing housing-investment loophole

Weaver demanded to know why the NDP hadn’t closed this “loophole”, which he alleged was “so big you could drive a bus through it”.

The B.C. Green leader emphasized that it’s “straightforward” to address the issue, noting that Ontario changed its rules several years ago.

Weaver’s question on bare trusts (was) unanswered.

https://www.straight.com/news/975446/andrew-weaver-chastises-ndp-government-not-closing-housing-investment-loophole

#77 I’m stupid on 10.05.17 at 8:34 pm

#32 JSS

Jagmeet Singh = HOT

I’ll vote for him.
Plus he’s got a growing legion of women fans.

Good luck with that. 39 successful, never married and single= in the closet homosexual. If you’re looking for a gay best friend he’s your guy. And there’s nothing wrong with him being gay, he should just be honest.

Experience talking? — Garth

#78 Reality 1 on 10.05.17 at 8:35 pm

ALERT

MUST SEE FOR ALL CANADIANS

Must see interview on BNN today with Frank McKenna (Vice Chairman of TD bank and former provincial premier). A very credible guy very much” in the know”.

He talks about (with obvious disdain) what this Energy East cancellation does to Canada, its oil industry and export revenues.

Listen to every word and see who Trudope is really working for.

Hint: It ain’t Canadians.

#79 NEVER GIVE UP on 10.05.17 at 8:37 pm

#44 Pete from St. Cesaire on 10.05.17 at 7:22 pm
As for the pipeline..who cares. Ship it by rail.
===============================
Great Comment!
To add to that you could use pipelines for part of the trip and unload the rail and reload again for another leg of the trip.
Then use time to close up gaps. There is always a way if given enough time and grease enough palms.
Every protester out there is saying in reality, “I WANT A BIGGER CUT OF THE ACTION”. The minions out there who really believe they are working for the environment are just tools of the Local leaders who are orchestrating the deal.
The only thing is pipelines are actually safer and cheaper than rail. Sadly, pipelines have become the political football du jour.
Fortunately no one can tell the railroads what they can carry and where.

#80 Screwed Canadian Millenial on 10.05.17 at 8:37 pm

The greaterfool.ca community vs Jagmeet Singh: https://m.youtube.com/watch?v=y67DnNRPszA

Jag as a patronizing bully. Trump would have done the same. — Garth

#81 Flatlander on 10.05.17 at 8:38 pm

Liberal MP Wayne Long takes a stand against his own party by voting with the cons, arguing the consultation period for gutting our small businesses should be extended. He now faces internal party discipline. We salute you Wayne

#82 energy on 10.05.17 at 8:38 pm

Stopping oil subsidies is fine.
Just poor that money into R&D in the field of nuclear fusion.

Once we crack the problem of fusing Hydrogen into Helium in a controlled way (as opposed to a hydrogen bomb explosion) we will have zero energy problems.

Clean energy, and a single plant can generate enough electricity for the entire Dominion of Canada.

Splitting Uranium creates a lot of energy per kg.
Fusing Hydrogen creates an insane amount of energy per kg.

The first company to manage and patent controlled fusion will be a trillion dollar company overnight, surpassing AAPL market cap.

#83 crowdedelevatorfartz on 10.05.17 at 8:43 pm

@#15 Conan
“Jagmeet is going to road trip and take some seats away from the Cons in Sask… and Manitoba. T2 has Quebec sewn up, that is why the other parties hate/scared of him.”
+++++
Sask and Manitoba…..?
Goodness me . What short memories you Con haters have.
Which Province LOATHED Trudeau senior for YEARS after his reign?
Which Province was it that elected the NDP en mass two elections ago? Because they hated Harper so much and the Libs were running their election campaign with a leader that had all the charisma of a damp, smelly squid?
Quebec?
As I recall one of the NDP’s illustrious newly elected Quebec MP’s was a waitress who found out she was elected in Las Vegas……

Yeah. Trudeau has Quebec “locked up”……riiiiight.

Has Totally Financially SCREWED Canadian Millenial told you about the swampland in Puerto Rico I have for sale?

#84 Castro lovers on 10.05.17 at 8:45 pm

T2 and jimmy jag man both on record as super pumped on Castro. Unbelievable. At least they will split the vote.

Andy Griffith Scheer has got a chance!

#85 Bob on 10.05.17 at 8:45 pm

Eventually we will run out of other people’s money in this country the way we are going…..

…eventually….

#86 crowdedelevatorfartz on 10.05.17 at 8:47 pm

@#33 JSS
“Jagmeet Singh = HOT

I’ll vote for him.
Plus he’s got a growing legion of women fans.
++++++

Thats a good reason to elect him leader of the country.

Well, what the hell….it worked for Trudeau.

And the fact that people (including con voting boomers) wanted Harper gone….

#87 crowdedelevatorfartz on 10.05.17 at 8:49 pm

@#39 Blobby
“Why is legalizing weed awesome stupidity?’
*******

Ummmm. Sorry Dude. What were we talking about?

#88 NEVER GIVE UP on 10.05.17 at 8:49 pm

#69 Lost…but not leased on 10.05.17 at 8:10 pm
Jagmeet Singh…
not exactly an overwhelming support by his own party…almost 50% did NOT vote for him…
===================================
Federal parties need to re evaluate the time limit before voting after signing up for a political party.

Perhaps one should be a paid up member paid by their own credit card for 4 years straight.

If this were the case I am pretty sure JS would not have won.

If you know anything about Indian sectarian violence and politics you would know how strongly they will vote along religious lines.

I was in New Delhi in 1984 when Indira Ghandi was assassinated. I saw many people killed and learned a great deal about how different cultures operate.

Even though they are Canadians they will not easily vote with different parties. Like many minorities they will vote with who their religious leaders tell them to and that is why there should be a delay in voting rights for new signatories to political parties.

This has happened to the Liberals in the past in Surrey where the favorites were upended by last minute people signing up for membership and the membership was being paid for by the candidate.

I don’t know if anyone could tell me if there was a change to the policy as a result of that? It was in the 90’s as I recall.

#89 PastThePeak on 10.05.17 at 8:50 pm

The way Poloz has acted, I don’t think anyone (even he) knows where rates are going. The only consistent policy action he has demonstrated is a desire to “surprise” the market.

He did two rate cuts back in 2015 that he should not have – when rates are at 1%, cutting to 0.5% isn’t going to induce much increased business investment – but it sure helped to ignite RE and consumer debt spending. Then he did a 180 turn in spring, going from talking all about downside risks to hiking the rates twice in a row.

And now speculation is that he will sit out for the forseeable future after rate hikes that implied a frenzied need to combat inflation.

The guy is a loon – probably the worst BoC head in a few decades.

If he was smart (which he doesn’t appear to be), the BoC would slowly raise rates to work to correct the asset bubbles that formed over the last 8 years. It should have been done years ago, but that can’t be helped. Rates won’t hit levels considered low even a decade ago (4-5%), but getting prime back to 2% is at least something.

#90 Al on 10.05.17 at 8:51 pm

JS as PM or propping a T2 gov would be very bad for Canada. Still, I find it hard to dislike the guy. T2 is a douche, JS is actually likable. I hope actually believes in his platform and they do become the official opposition.
Any way you look at it, the future is bleak. Anti-entrepreneurial sentiment is at it’s highest, taxation and regulatory burden at its highest, and an army of over-educated, but unskilled, millennials are restless on the sidelines. Add an assets bubble to the mix and things can get scary. This will not end well.

#91 learningfromyou on 10.05.17 at 8:52 pm

Thank Garth for this post

#16
How stupid are kids today?

General speaking, behind the cellphones and tables they aren’t getting smarter for what I’ve noticed.

Define stupid, tell it to them and they won’t like the adjective even if you are telling the truth.

They’ve been TOOOO spoiled in their life making not difficult for them to believe that they can get something without effort, most of them experienced the same thing during their whole life, so yes, the new star might get their votes.
It’s sad where we are heading!!

#92 Screwed Canadian Millenial on 10.05.17 at 8:53 pm

Garth the SJW feminist! Im cracking up at the gym so hard i almost dropped the weights.

#93 Disgruntled Condo Owner on 10.05.17 at 8:54 pm

Do why does the foreign buyer’s tax seem to be working better in ON than in BC at cooling the Chinese casino housing market? Is there a key difference in policy that the toothless NDP will not have the balls to adopt?

Foreign buyers in Ontario = non-event. The market is cooling thanks to natural selection. — Garth

#94 crowdedelevatorfartz on 10.05.17 at 8:54 pm

@#56 Lost …..but not Leased.
“Suggest we have a ring match between pugilist Trudeau and martial artist Singh ( sorta like the recent Mayweather vs. McGregor match ). Scheer could ref?

Could be interesting…
=+++++++

After the “wrestling match” ( with much beard and hair pulling)

Dammit Jim ! I could save him! I’m a Doctor not a Cosmetitian! Who cares if his hair is messed up! He needs help dammit!

#95 Toronto1 on 10.05.17 at 8:55 pm

the dippers will not win an election. the Libs keep moving left leaving the NDP with very little to offer other then this dreamer stuff. Watch out for the vote to be split on the left.

its funny how politics is moving- looking more like a reality show– lets elect the most marketable face etc..

but he is a real threat to T2, especially for the young vote. the risk is out west and in Quebec- not everyone in Canada is as progressive as those in Ontario- his ethnic background may hurt him in those to locals.

sad but its the truth- the good part is he has a long time to get his message and his face out there.

still too long until the next election but i really dont see that much more that the NDP can offer on the left- if they go to far they risk losing the swing voter.

Same is true for the Libs, if they move to far to the left they risk losing the swing middle of the road vote

in my opinion, the best possible outcome would be a minority govt-

#96 TnT on 10.05.17 at 8:57 pm

#44 Pete from St. Cesaire on 10.05.17 at 7:22 pm

Warren Buffet is a big time rail investor.

Quid Pro Quo – Warren invests in HCG to stop the financial meltdown in exchange for T2 to scrap pipeline.

Now you know what was discussed in that not so secret meeting.

#97 Wrk.Dover on 10.05.17 at 8:58 pm

Quite some list tonight!

Seems timely to be recommending the book – Living The Good Life – by Helen and Scot Nearing. AKA the hippy draft dodger bible.

With modern developments available since it was penned, it is a cake walk to re-live a version of their lives very comfortably. Doing it. For a long time now.

This is not the full moon talking.

#98 Screwed Canadian Millenial on 10.05.17 at 9:00 pm

#82 crowdedelevatorfartz on 10.05.17 at 8:43 pm

I would gladly marry a Puerto Rican to get that green card. You got that for sale?

#99 PastThePeak on 10.05.17 at 9:01 pm

As for Jagmeet, I doubt the NDP can win a federal election, at least the next one.
– Trudeau will have Quebec sown up.
– Atlantic provinces will go to their safe space (Libs)
– T2 will campaign further to the left
– Millennials might think he is their “new” 21st century feminist/inclusive champion, but T2 still competes for their affections, and unless a sea change occurs, not enough of them bother to vote to have full impact
– It is possible some Lib/Con swing voters decide that it is best to swing to T2 to prevent the NDP gaining power

Now, that doesn’t mean that JS won’t affect the country. T2 will enjoy going further left, and will no doubt take some of the NDP platform and spin as his own – if it hasn’t already been implemented in 2018/19 year. Think higher capital gains inclusion rates, more/higher tax brackets, dividend tax changes.

On the estate tax question – that is interesting. The NDP have always wanted this from a hard-core left ideology perspective. But are the millennials dumb enough to miss the fact that the greatest intergenerational wealth transfer in history is going to take place in the next couple of decades, and “they” would be the beneficiaries? Are they going to vote a 40% tax on the house they will inherit?

Probably.

#100 Bob on 10.05.17 at 9:02 pm

For those out there who bemoan paying additional income taxes to the politicians in this country then get with the program.

Do not evade taxes but avoid them. The smart folks out there already have a tax efficient investment portfolio that can be used to reduce income taxes payable every April during tax season.

What is so hard about that? There is an entire financial industry in this country devoted to helping you keep more of your money. Ultimately, politicians are just going to keep raising taxes, fees, service charges, etc. to the point that they will become crushing for the productive class in Canada.

Eventually, the politicians will not come for you….but they will come for your money…just a matter of time.

Drip, drip, drip….

#101 Reality 1 on 10.05.17 at 9:04 pm

to # 70 Screwed Canadian Millennial

No troll, it took a bunch of your short sighted ilk in your collective idiocy to vote for the dope and Truedope to seriously f*ck up your future prospects.

Economic reality will eat you fools alive.

Think you are disgruntled now – you ain’t seen nothing yet.

Reap what you sowed.

If you ever make a meaningful income, you will come to understand your error in the fullness of time.

Then again, your willful blindness and your closed and bitter mind will still be blaming someone else. It is all you know how to do.

Enjoy your self imposed torture.

#102 Bob on 10.05.17 at 9:08 pm

On another note, the TSX is up a solid cumulative 1% this week. The DOW is up 1.75% to end of trading day Thursday. Good news elsewhere in other markets also.

If you have your pennies fully invested and not sitting on the sidelines then the good news from the markets both last week and this week goes some way to offsetting the frustration with the morons that we seem to elect with regularity.

#103 MF on 10.05.17 at 9:09 pm

Gotta admit, I wish Jagmeet was running for the conservative party. I’d vote for him in an instant. He’s got lots of charisma. Much more than T2 (who has none).

What this will do is take Indian votes away from the Liberals and hand them to the NDP, which could split the anti conservative vote down the middle again. Not a bad thing at all.

#76 I’m stupid on 10.05.17 at 8:34 pm

“Good luck with that. 39 successful, never married and single= in the closet homosexual.”

Nope. Sounds more like a dream life for a lot of heterosexual men.

MF

#104 PastThePeak on 10.05.17 at 9:09 pm

Slowing growth plus increases in spending, with the reduction in tax revenue that will come from both the consequences of new tax changes & slowing housing = even larger deficits.

Growing deficits into a growing (albeit slowly) economy, with most money not going to actual “building shit” but rather to social transfers and increased gov’t general spending, helps to create structural deficits. The kind that actually do take “real austerity” to correct (as opposed to what the Conservatives did to balance the budget).

It was only a short 2 years ago where T2 was very clear that the need for deficits was to invest to grow the economy faster, and that this will in turn reduce the deficits. You don’t hear that rhetoric now. Now it is about helping out others, and making sure that the rich pay their share.

Slight of hand people. The Libs are very good at it.

#105 crowdedelevatorfartz on 10.05.17 at 9:10 pm

Breaking News

Site C dam cost to go up another $615 MILLION dollars raising the cost to over $9 Billion because the “river diversion” has to be pushed back another year.

Nothing like an open chequebook for the Christy Clark Liberal Lobbyist donators………….

#106 jim on 10.05.17 at 9:11 pm

#41

” South of the boarder they have Capitalism on steroids”

You are mistaken. We do not have capitalism here in the USA. I don’t think you know what that term means.

Capitalism ended a long time ago, if it was here at all. The Farm Bill, Medicare/Medicaid, Fannie Mae / Freddie Mac, Housing and Urban Development, the FDA, etc etc. None of these are capitalist. All are interventionist in the command and control model.

In a capitalist society there are no federal student loan programs, massive bailouts to cover banks and their reckless behaviour, patents, etc etc. Nor does the state own significant parts of the mortgage market, or provide subsidies to producers.

#107 PastThePeak on 10.05.17 at 9:12 pm

And on the pipeline topic, I wouldn’t put any money down on oil flowing through Kinder Morgan’s twin anytime soon. There are both protests and BC gov’t active opposition to overcome. I hardly think the federal gov’t is going to “push” the pipeline through. They will be very happy in fact if it is “matters outside their control” that prevent it from being built.

#108 For those about to flop... on 10.05.17 at 9:14 pm

This condo sold 19 days ago ,it is in the building where I already have a slew of CONFIRMED PINK SNOW cases.

Did this guy lose as well?

You tell me…

M43BC

6011-5511 HOLLYBRIDGE WAY ,RICHMOND. Paid 806 asking 860

https://www.zolo.ca/richmond-real-estate/5511-hollybridge-way/6011

https://evaluebc.bcassessment.ca/property.aspx?_oa=RDAwMDBOQjRWQg==

#109 Reality 1 on 10.05.17 at 9:14 pm

Just watched that video posted at # 79 by SCM.

At first thought it was a SJW remake of the Jerry Springer show.

This is a leader of a national political party ?

Canada is beyond f*cked.

Sell all your Canadian dollars now !

#110 Sixteenth Minute on 10.05.17 at 9:15 pm

#57 Ex-Cowtown on 10.05.17 at 7:48 pm

It’s okay to be behind the times on this, most people are. And if you identify yourself so closely with Calgary as to name yourself on your origin, Upton Sinclair’s old axiom may well apply.

Costs of solar have utterly collapsed the last few years. We’re talking an entire decade where costs have dropped at rates like 30% year over year, every year. That’s the sort of compounding change that really adds up.

Part of the rationale to cancel BC Hydro’s Site-C dam in BC is that finishing the project would be more expensive than abandoning all the sunk costs, cleaning up the mess, and just doing solar today.

The IEA says “prices for solar PV and wind power … are increasingly comparable or lower than generation cost of newly built gas and coal power”. Unsubsidized. And there’s no indication that the trend of cost declines is over or reversing. Additionally, batteries (included in solar costing) have gotten better and cheaper – for cars, we’re talking an 80% battery cost decline in the past six years.

The game is changing fast. Think of it like those little transitions from “nobody has a cell phone” to “everybody has a cell phone” to “everybody has a smartphone”. Completely transformative in just a few years… and that’s just one function of improved batteries.

#111 crowdedelevatorfartz on 10.05.17 at 9:16 pm

@#97 Screwed Millenial
“I would gladly marry a Puerto Rican to get that green card. You got that for sale?”
+++++

Sorry Brudda. I only have swampland for sale.
But I’m sure if you visit “Rico” you’ll have plenty of offers for marriage.

#112 I’m stupid on 10.05.17 at 9:17 pm

Experience talking? — Garth

Do you have a better explanation? He must be “picky” lol

#113 Long-Time Lurker on 10.05.17 at 9:19 pm

Hoping to make my contribution to this love-in which is the Greater Fool comments section…

Anyway, regarding trickle-down economics: The real term is supply-side economics. In other words, you don’t grow economic activity by taxing it. Ergo, reversal.

In other non-news, I’m getting the feeling I had about twenty years ago before the dot-com bubble burst. Back then I was watching the news on the stock markets and thinking, “Nothing goes up forever. This is impossible.” About half a year later the stock markets crashed and “investors” went running for the hills. Then I was thinking, “Yeah. I knew it.”

I actually have a pet theory on what caused the dot-com crash. I used to be an daily reader of the comic strip Doonsbury. On the day the dot-com bubble burst, Doonsbury had a line where one of it’s characters said something like, “You know all these dot-com companies have no profits.” It was like the herd read the comic strip and everyone suddenly realized that “the emperor has no clothes.” Right from that point the dot-com bubble burst.

Feeling the love. My sympathies, Garth. Thank you for continuing your blog.

#114 I’m stupid on 10.05.17 at 9:21 pm

#102 MF

Dream life you have to be kidding me. Dating sucks, having someone that has your back is the best. I couldn’t even imagine being single again. I’m lucky that I met and married my wife. Marriage is great if it’s with the right person but I can see how a bad experience can change your perception. You can’t speak about it or understand marriage unless you’ve experienced it.

#115 Yanniel on 10.05.17 at 9:24 pm

Hi Garth,

I recall some hints in this blog and in your weekly call, about underweighting US small caps and overweighting Canadian and European equities.

With all the points you mentioned today, are you still constructive on Canadian equities?

Thanks.

#116 For those about to flop... on 10.05.17 at 9:25 pm

Pink Pumpkin Update…

M43BC

493 Shannon Way, Delta paid 1.62 ass 1.3 Now asking 1.53

May 19:$1,750,000
Aug 10: $1,620,000
Change: – 130000.00 7%

https://www.zolo.ca/index.php?sarea=493%20Shannon%20Way,%20Delta&filter=1

https://evaluebc.bcassessment.ca/Property.aspx?_oa=QTAwMDA1Vk1BQg==

#117 Smoking Man on 10.05.17 at 9:25 pm

For fiction lovers, I’m looped and in the zone.

So we got kicked out of Seneca Allegany last night cause they knew I bought my service dog certificates on the internet.

We ended up with a limo ride to Emas Steak House in Salamanca. Bartender/hotel reception gave us room 4, that god I don’t have high cheekbones, it would have been war.

It’s was a nice place, in the mountains where leaves are just starting to turn. Long overdue.

Anyway back in Burlington, huddled with the perfect dogs and a wife whos lust for slot machines is far stronger than a Trump supporter is to Jesus, she and vowed to never go back.

Win number 2, sleeping on a mattress with no box spring in my sons living room in one bedroom apartment with two dogs and a repentant woman.

I love it when a plan comes together.

I finally faked enough poverty to make them all realize what’s important in life.

#118 MF on 10.05.17 at 9:27 pm

#92 Reality 1 on 10.05.17 at 9:04 pm

Sorry but you (and a lot of others) are starting to look more and more foolish for feeding this troll.

What SCM does really well is lure what is beginning to look like a lot of cranky and frustrated older folks into some worthless generational war. When you guys all erupt with blanket hate/anger towards an entire generation of individuals he/she wins.

My generation has a lot of lazy pot heads who are clueless, but we also have a shit ton of us who are working our butts off trying to navigate the economic climate of today.

MF

#119 Damifino on 10.05.17 at 9:28 pm

#83

At least Castro made the trains run on time, didn’t he?

#120 Damifino on 10.05.17 at 9:39 pm

#85 crowdedelevatorfartz

Well, what the hell….it worked for Trudeau.
——————————-

His father too. And yet, he looked like a sack of hammers compared to his son. Must be more to it.

(My wife thinks I’m crazy but I think there’s a strong resemblance between Trudeau the elder and Mr. Burns from the Simpsons)

#121 Lost...but not leased on 10.05.17 at 9:43 pm

Re: BC pipeline from Alberta

GOOGLE” Andrew Nikiforuk” excellent journalist

My understanding is that it will send very thick “bitumen” sludge from Alberta to waiting tankers….the bitumen will require solvents, as well as the sludge has high sulfur content.

If a tanker carrying this sludge leaks or sinks..the sludge is next to impossible to recover as it sinks in the water column as well.

Input: It used to take 1 barrel of conventional crude to recover 100 barrels…with oil sands its 1:3..often 1:1.

This crude sells fro around $6-7 barrel vs conventional oil.

There is a glut of this type of bitumen as well as the capacity to refine it.

The basic gist is volume sales of JUNK crude in a volatile market..whereby the purchaser can easily grind the producer who is desperate for any/all cash flow…maybe even below the cost of production.

If SHTF and a tanker sinks…BC is screwed re: environment…as stated earlier this crap sinks.

Why is it not processed here..or perhaps that affects the carbon footprint model…but simply allow the impact elsewhere?…..out of sight out of mind?

More concerning is the FACTS are not being presented to the public…the entire pipeline seems like a desperate boondoggle.

#122 Smoking Man on 10.05.17 at 9:45 pm

Life has unexpected things that slap you. Your give no shit gene should kick in. Open your eyes and document what happens.

I’m a writer now with not much of a work ethic, you’re lose my beautiful dogs.

God is real, so are aliens.

#123 the Jaguar on 10.05.17 at 9:46 pm

RANT ALERT!! KEEP MOVING..NOTHING TO SEE HERE…

“Third, the Energy East pipeline is dead. Kaput. Murdered by regulation, strangled by red tape and savaged by greenies plus the province of Quebec. TransCanada threw in the towel on Thursday. So over $16 billion won’t be spent building a conduit for Alberta oil to reach East Coast refineries. No pipe manufactured, no crews planting it, no spinoff economic benefit, no boost for the cowboys or the Maritimers.”

****
Well said, Garth. And it isn’t the only cancellation as those who read the headlines know. But don’t weep or gloat (blog dogs) for the highly educated, young, diverse, experienced, hardworking folk in Alberta. We are survivors, inventive and highly adaptive. When we arrived in the last century we lived in dugouts in the coulees in this province. As Shackleton famously said….”By Endurance We Conquer”. Alberta isn’t all about oil and gas. The agricultural industry has always been very strong. Best beef in the world. Tourism is strong. Infrastructure is strong. And many are quietly being called back to attend to new drilling projects. Oil and gas remain important industries. Most importantly the spirit in this province is very strong. And we have a memory like an elephant. Too bad those who benefited so heavily from the oil and gas industry in so many ways have forgotten how their local economies benefited from this same industry. Guess it is so much easier to collect E.I in some provinces when other provinces are the engine of the economy, all the while ignoring where the money comes from to pay the bills. LAZY UNGRATEFUL BASTARDS! That’s right! I said it! And wild horses won’t get me to retract the statement!! We are still on our feet here, still standing, and neither of the major cities in Alberta can make that claim owing to an overbloated, unsustainable housing market that might bring the entire economy of the country to its knees when the shit hits the fan! (Hi Vancouver). In Alberta as the old investment informercial said… “WE DID IT THE OLD FASHIONED WAY—WE ‘EARNED IT’.” Fasten you seat belts beneficiary provinces (hello Quebec, New Brunswick, etc ), who were recipients of wealth, jobs, etc from the industry you have just squashed! See if you are able to count the recently cancelled projects from a major industry that puts money in the pants of the people who pay taxes in your provinces!
Jagmeet Singh is a breath of fresh air. Energetic, educated, positive outlook. Yes, he will get ‘tuned up’ in short order on economic realities versus unrealistic wish lists….but still I congratulate him on his successful leadership race and hope he can provide some leadership to the many who just don’t realize who has actually been paying the bills for the last twenty + years…..

#124 Fish on 10.05.17 at 9:47 pm

The pic, thinking the dog wants the chew

#125 JustMe on 10.05.17 at 9:48 pm

#105 Damifino

Well, what the hell….it worked for Trudeau.
——————————-

His father too. And yet, he looked like a sack of hammers compared to his son. Must be more to it.

—————————————————————————-

His father had Margaret. Lucky for T2 he got his mother’s looks.

T1 was also a good orator. The opposite of Preston Manning.

#126 Dan on 10.05.17 at 9:49 pm

I decided today after spending some time reading the comment sections of the pipeline story that, at minimum, I can’t stand half of the people who share their thoughts. So I decided to read the comments here to see if it held true, and it’s worse!

Garth, how in the hell do go through everyone’s drivel and insanity on a daily basis? Some of these people shouldn’t be allowed to vote much less have internet access…

#127 dr. talc on 10.05.17 at 9:50 pm

re: jeremy rudin said:
“We are not waiting to see those risks crystallize in rising arrears and defaults before we act.” Clear enough for you?

translation: ‘presently, defaults are insignificant’
this is the guy who said the purpose of the ‘stress test’
was to cool the market. the market cooled in late April , without the stress test; jeremy rudin is out of touch with reality

jeremy rudin’s job is hoax management : when you have non existent defaults and non existent risk, the purpose of any fake ‘solution’ by jeremy, is psychological, btw, his dept. also monitors the fake fake financing of fake terror.

#128 Screwed Canadian Millenial on 10.05.17 at 9:53 pm

#117 MF on 10.05.17 at 9:27 pm

I’m not trolling. I’m dead serious and I back up all my statements with facts.

#129 Lost...but not leased on 10.05.17 at 9:55 pm

Warren Buffet and Oil..

Buffet has a large stake in railway BNSF…
They charge shipping cost $30 per barrel of oil

Keystone Pipeline would have charged approx. $10 barrel…now dead.

One should research the donors list of many “SJW”and “environmental” groups..aka controlled opposition..funded by Buffet and his billionaire cronies.

HINT: Try “TIDES” foundation.

#130 race-blind Canada on 10.05.17 at 9:59 pm

Globe and Mail female columnist is all excited:

“Mr. Singh’s appeal transcends his party. His turbans are a brilliant (if unintentional) branding device. They make him stand out in a crowd. They mark him as exotic. Yet as soon as he opens his mouth, it’s clear that he is as much a son of Canada as anyone in the room – not the wimpy, white-bread Canada of our past, but the dashing, muscular Canada we long to be… A lot of people are excited about Mr. Singh for the same reasons they were excited about Barack Obama. Liking him makes us feel better about ourselves. He makes us feel hopeful that we really do live in a fairly just society. He also signals a generational and cultural shift that seems truly hopeful.”

If Jag political ideas were embodied in the shape of an old white guy, the social engineering snowflakes would call him a nothing burger Bernie Sanders.

Garth would call him more deplorable than Trump.

#131 Screwed Canadian Millenial on 10.05.17 at 10:00 pm

To those complaining about the CAD. I would remind you that the CAD/USD is still UP under Trudeau. That’s right. The Canadian Dollar is UP under Trudeau’s reign. It’s amazing how quickly you BoomerCons forget the sorry shape that your boy Harper left this country in.

https://imgur.com/PSjKoyn

Let me remind you of a few headlines during that time.

Why the Canadian dollar is in ‘crash position’
https://beta.theglobeandmail.com/report-on-business/top-business-stories/the-crash-position-scenario-for-the-canadian-dollar/article22907490/?ref=http://www.theglobeandmail.com&

Canadian dollar on track for 2nd-worst year ever
http://www.cbc.ca/news/business/loonie-plunge-2015-1.3371514

‘Currency instability’ now a serious concern for Canada
http://business.financialpost.com/investing/trading-desk/currency-instability-now-a-serious-concern-for-canada

That’s the shape that 10 glorious years of Harper Conservative leadership left this country in.

It’s funny how you BoomerCons have allowed your mental faculties to fail you. Probably for decades now.

It’s amazing how little you actually care about your country, all because Harper flashed a $10k TFSA in front of you, like one of Smoking Man’s cheap hookers.

#132 For those about to flop... on 10.05.17 at 10:00 pm

Pink Pumpkin Update…

M43BC

9844 Ashwood Drive, Richmond paid . 1.38 now asking 1.29

Nov 16:$1,398,000
Jun 13: $1,368,000
Change: – 30000.00 -2%

https://www.zolo.ca/index.php?sarea=9844%20Ashwood%20Drive,%20Richmond&filter=1

https://evaluebc.bcassessment.ca/Property.aspx?_oa=QTAwMDA1V1VITg==

#133 Smoking Man on 10.05.17 at 10:03 pm

T2 is done.

The Rainbow Turbanator follows the Smoking Man. San Tuz study your enemy. Can’t wait for him to bring up 427 and 410 highway traffic jambs are up to brown town. Beautiful entrepreneurs

#134 crowdedelevatorfartz on 10.05.17 at 10:09 pm

Yo!
Totally Finnancially Screwed Millenial.

I’ve just locked in the franchise rights for a Laser tattoo removal service in ALL the Canadian WalMarts……
Because you’re poor…..and I’m a rich, philantropist looking for a tax break….I’m willing to GIVE you a franchise.
And, while I realize removing tattoos goes against all you believe in……..
you’ll be rich…..
dividends…….
tax breaks……..
Sssssssselllllllll your soul…….
Give in to the Pow-aH of the Dark Side young Millenial Falcon……

#135 Manitoba Whale on 10.05.17 at 10:09 pm

#89 Al on 10.05.17 at 8:51 pm
…Anti-entrepreneurial sentiment is at it’s highest, taxation and regulatory burden at its highest, and an army of over-educated, but unskilled, millennials are restless on the sidelines.
*****

The millennials that I see working skilled jobs and entry level and blue collar jobs are numerous, I don’t know where you guys hangout. These millennials will not vote orange/red, they will vote blue/red or just blue. They exist all over Canada. They are under represented on this blog. And if they are stirred up they will vote.

Then there are the millennials who have white collar or professional jobs. Just because Uncle Sugar Twin Trudeau gives them a check does not mean they will automatically vote for him or the other guy. A percentage will vote blue.

In the big inner cities the vote will be split Green/Red. They always are so there is no real change there, if any a loss for the Reds. And in Quebec, like someone has said, perhaps the protest vote is going to be Bloc.

The mudslinging the Liberals and NDP’s will be pouring upon each other will be HUUGE. They will be busy out lefting each other knowing that they are both left of centre. And Trudeau has pretty much lost the Red Tories like myself with both T1 and now his baggage.

I think that the one that will be pooched is Justin Trudeau. He sold his soul to the left thinking that this will be his eternal meal ticket as he decimates/decimated the NDP. His hubris is that he brought a party on life support to become the king of Ottawa and forgot that he is mortal. Karma is a real bitch.

#136 OttawaMike on 10.05.17 at 10:11 pm

Because Saudi oil and Venezuelan oil are much better than piping our own oil east.

It supports thug regimes such as the Irvings.
—————————————–
As for the lefties, let’s go back to discussing Scandinavia.
Happiest people on Earth. Highest life satisfaction indexes in poll after poll. Also highest taxed.
USA bastion of capitalism. Always middle or low on the rankings for happiness. Just like their taxation.

What gives?

#137 Lucy Stoole on 10.05.17 at 10:15 pm

DELETED

#138 Manitoba Whale on 10.05.17 at 10:18 pm

#102 MF on 10.05.17 at 9:09 pm
“Good luck with that. 39 successful, never married and single= in the closet homosexual.”

Nope. Sounds more like a dream life for a lot of heterosexual men.
*****

Funny, I was thinking it that way too.
Lol, happily married, but what if…?

#139 Smoking Man on 10.05.17 at 10:20 pm

DELETED

#140 conan on 10.05.17 at 10:21 pm

#82 crowdedelevatorfartz on 10.05.17 at 8:43 pm

Jagmeet is going to go all Tommy Douglas in the Prairies at the expense of the hard core Cons.

https://www.youtube.com/watch?v=y1EpaboCERg

#141 Fish on 10.05.17 at 10:22 pm

The phiniox system, two IBM and the other, can’t get it right yet, while still trying to pay people for work they did, the government open up 2 more,( for payment) so they can try to pay these people, who have not been paid for their services. it’s a mess

#142 Walter Safety on 10.05.17 at 10:23 pm

Jagmeet won’t get the female vote when the girls find out there’s a 9 year old in India that’s been pledged to him in marriage and the dowry has been paid.

#143 westcdn on 10.05.17 at 10:24 pm

Here in our forlorn outpost of Calgary on the Canadian prairie, Mayor Nenshi is in a battle for election. He was awarded the world mayor of the world in 2014. Since then, the Alberta economy has hit hard times and people are getting angry over property taxes. Good private sector jobs have been replaced by minimum wage jobs soon to be at the princely sum of $15 per hour yet Nenshi continues to see governance and socialism as the answer. Great if you are in the municipal public service.

He is intelligent, well-spoken and experienced but his naïve arrogance reminds me of why I could not vote for Harper or Liberal or NDP. Likewise, he doesn’t seem to be listening to the discontented. Most property owner taxpayers are saying we can’t afford to pay more. I have changed my ways about voting for change promises as Trump has been such a disappointment to me. The last picture I saw of him was him in Puerto Rico doing a fat old man spread – not impressed and prefer he remains standing to talk to me.

I can’t speak for Calgary but my neighbourhood RE prices are sticky against the downside. Maybe Energy East will change that trend – thanks Quebec and spend the equalization well.

I got a kick from an American blogger (Fly) re: Shopify. “calling for the FTC to investigate the company for being an Herbal Life tier scam — preying on retards with promises of becoming a millionaire. I am not surprised, whatsoever. Canadians, innately, lack the moral compass to conduct business without schemes. To back up my assertion, I point you to Blackberry, Nortel, Canadian Goose etc.” I would add Bombardier to the list. Yup, a list that failed to finish but I won’t quit yet.

Is it better to be a collective of equals or a community of individuals? I vote for the latter and want Mr. Fly to eat his words.

#144 PastThePeak on 10.05.17 at 10:24 pm

#109 Sixteenth Minute

The IEA says “prices for solar PV and wind power … are increasingly comparable or lower than generation cost of newly built gas and coal power”. Unsubsidized. And there’s no indication that the trend of cost declines is over or reversing. Additionally, batteries (included in solar costing) have gotten better and cheaper – for cars, we’re talking an 80% battery cost decline in the past six years.

====================================
Solar and wind are cheaper than coal and gas unsubsidized?

Someone forgot to tell the Ontario Liberals. Electricity prices in Ontario (including distribution charges) tripled from the time Dalton McGuinty took over, until Wynne’s latest genius move to lower prices by taking out a loan (I like the lower prices now, but will not like it at all when it goes even higher than it would have been in 2022).

Solar feed-in tarif rates for new systems greater than 10kW are 44 cents/kWh in Ontario. That is more than 8 times the price paid for electricity from a coal plant. And that solar cost does not include backup power for when that sun doesn’t shine.

Solar might be getting cheaper in Excel land, but not in reality – or at least not when government is involved…

#145 John Martin on 10.05.17 at 10:27 pm

There`s much concern about pipelines being cancelled. Here is a possible solution.

A University of Calgary professor says new technology that transforms heavy crude from the oilsands into small pellets is the pill that could cure the industry’s transportation headaches.
Ian Gates says his newly-patented technique creates self-sealing balls of bitumen of various sizes that can then be moved by rail, road or ship with less risk of environmentally- harmful spills, thus reducing the need for new pipelines.
The invention will jump from the lab into a pilot project starting in November to prove whether it will work in the field.

https://globalnews.ca/news/3721682/calgary-professor-thinks-oilsands-crude-pellets-could-be-cure-for-industrys-bitumen-transport-problems/

M80Mb.

#146 Robert White on 10.05.17 at 10:28 pm

Liberal coffers are stuffed whereas NDP & NeoCON coffers are depleted. Liberals will handily win the next election in their sleep with their eyes closed. NDP will likely become official opposition, and the defunct neoCONS will become the laughingstock of Canadian politics forevermore with Harper as their reigning idol of all time. They will then die, and Harper will be forgotten outside of the history E-books that will collect dust in cyberspace.

RW

#147 crowdedelevatorfartz on 10.05.17 at 10:36 pm

@#138 Conan the socalist Barbarian
“Jagmeet is going to go all Tommy Douglas in the Prairies at the expense of the hard core Cons.
++++++

bwahahahaha

Apparently the Trudeau Govt is using your area as the “beta site” for the Pot Legalization marketing strategy.

Ummmmm, Sorry Dude. What type of pizza did we order?

#148 Lost...but not leased on 10.05.17 at 10:46 pm

The Federal liberals rode into power with T2 via T1 coattails…aka live by T2= die by T2.

Some coattails..as T1 was as divisive a force as Canada ever saw, and set up Eastern Canada as the Canada’s politically catered to power base. (read some history on how T1’s advisors told him that all he needed for power as “Fidel Castro North” was cater to Ontario and Quebec..

I agree with other posters..T2 is done…moreso with Singh as NDP leader…they will try to out “Marx” each other Karl Marx style..but end up more like Marx brothers comedy style…and be washed up after next election.

#149 crowdedelevatorfartz on 10.05.17 at 10:46 pm

@#145 “Robert White”

Your name really isnt Robert White is it?
Wouldnt be using a pseudonym would we?

Your diatribe sounds suspiciously like the gal from Toronto that thinks its a great city only for women……
in condos…….

OR

God help us all.

You’re her twin……

#150 FortDB on 10.05.17 at 10:48 pm

Fascinating collection of news articles from 89:

https://www.reddit.com/r/canada/comments/5y65ku/real_estate_rise_and_demise_in_19891990_toronto/

#151 FOUR FINGERS WATSON on 10.05.17 at 10:50 pm

Last month Canada was the fastest growing economy in the G7, interest rates were swelling, and the loonie was plumping. Now growth is going moribund,interest rates are going flaccid, and the loonie is limp. Quite a turn around. But any Major Dude could have predicted that. Actually some did, right here on this blog.

#152 Pete from St. Cesaire on 10.05.17 at 10:51 pm

Anyone who says “Trudeau will have Quebec sown up” doesn’t live here. He’s very much NOT in favour now.

#153 Sixteenth Minute on 10.05.17 at 10:53 pm

#143 PastThePeak on 10.05.17 at 10:24 pm

Solar feed-in tarif rates for new systems greater than 10kW are 44 cents/kWh in Ontario. That is more than 8 times the price paid for electricity from a coal plant. And that solar cost does not include backup power for when that sun doesn’t shine.

Solar might be getting cheaper in Excel land, but not in reality – or at least not when government is involved…

The prices paid for existing solar generation are a legacy of the contracts signed ten years back that were intended to subsidize the development of the industry. Back when they were signed in the 2006-2008 timeframe, they were good for a (very small) guaranteed profit for efficient producers. I was associated with one back then, and unfortunately the 2008 crisis did away with most of the opportunities for financing further production.

Anyway, the subsidies worked – the solar industry developed beyond anyone’s wildest expectations. Everybody underestimated the Chinese… again. Existing contracts will expire soon enough, replaced by those for newer production which, in 2017, is coming in at ~6c/kWh.

And if the US is foolish enough to slap huge tariffs on the Chinese panels in the very near future, they’ll get even cheaper for the rest of us. Though the hardware’s already so cheap that installation labour is nearly more significant…

#154 Oft deleted much maligned stock.picker on 10.05.17 at 10:55 pm

DELETED

#155 FOUR FINGERS WATSON on 10.05.17 at 10:56 pm

DELETED

#156 Yaroslav on 10.05.17 at 10:58 pm

Yes… So nice to see that someone remembers what my blog handle means…

Supply side economics. Real gem. Right up there with the theory that disasters like the Fort McMurray wild fire and hurricanes fuel economic growth…

https://imgur.com/gallery/bCqRp

#157 Sunnyside on 10.05.17 at 10:59 pm

This east GTA real estate agent tells it (the bad news) as it is.

http://homes4sale-durham.blogspot.ca/2017/10/what-will-happen-next.html?m=1

NOT good for sellers.

#158 Lost...but not leased on 10.05.17 at 11:01 pm

Down Under(water?)

Zero hedge reported that 57% of mortgage holders could not afford a $100 increase in their monthly mortgage payment(equivalent to .45% interest rate hike based on a $360,000 average mortgage).

Also: 39% of all mortgages are “interest” only.

Wonder how bad Canada is?

#159 JustMe on 10.05.17 at 11:02 pm

#135 OttawaMike

let’s go back to discussing Scandinavia.
Happiest people on Earth. Highest life satisfaction indexes in poll after poll.
_______________________________________________________

Sweden is the best place on earth

https://truebluenz.files.wordpress.com/2015/02/rape-statistics.jpg

http://www.businessinsider.com/r-wave-of-car-burning-crimes-in-sweden-moves-to-poor-stockholm-suburb-2016-8

https://www.thelocal.se/20170112/over-half-a-million-now-waiting-for-apartments-in-stockholm

http://bobarno.com/thiefhunters/beggars-in-stockholm/

https://www.youtube.com/watch?v=y8OY_KUNqQ4

#160 Gentle ,Loving Kindness on 10.05.17 at 11:03 pm

Another issue that may challenge the Canadian economy going forward… I believe the news about the NAFTA negotiations will get interesting in the next few weeks. So far, the buzz is the process is going well and progress is being made. So far, agreement seems to be made on the issues that are not in contention. The US seems suspect as it really hasn’t divulged yet its positions in the key issues. The dispute mechanism, the “made in US” content etc. I would not be surprised if the NAFTA negotiations completely fail. I don’t believe the US ever entered the negotiations in good faith, and in reality, wants the deal to fail. I believe they want separate bilateral agreements with Mexico and Canada. If the NAFTA negotiations do fail, the $USD /$CDN will probably get stronger. I don’t have SMs 6th sense for predicting the future, but on this one, I think I will be close.

#161 Sixteenth Minute on 10.05.17 at 11:04 pm

#143 PastThePeak on 10.05.17 at 10:24 pm
Solar feed-in tarif rates for new systems greater than 10kW are 44 cents/kWh in Ontario.


Following up – No, they aren’t. They’re half that and will continue to fall:

http://www.ieso.ca/-/media/files/ieso/document-library/fit/2017-fit-price-schedule.pdf

#162 AB Boxster on 10.05.17 at 11:10 pm

Lots of anger in Alberta over pipeline cancelation.

A vote for succession of Alberta from confederation, held today, would probably carry. Shame on this country for screwing over the province of Alberta.

New Alberta conservative government willl take a hard line.
Notely is an effing joke.

Alberta should focus on its southern partner to sell it products.
Eastern Canada can suck it up and buy more Iranian oil.

Alberta cannot be successful in a flawed confederation where the cards are continually stacked against it.

There are no advantages to being a partner in confederation when your supposed partners continue to suck your wealth, and kill your economy.
And take delight when they screw you over.

Liberals and T2 are a cancer on this country.

#163 Lost...but not leased on 10.05.17 at 11:11 pm

ADDENDUM/CORRECTION:

The Zero Hedge article I referred to above was in regards to “AUSTRALIA”

#164 JustMe on 10.05.17 at 11:27 pm

#135 OttawaMike

let’s go back to discussing Scandinavia.
Happiest people on Earth. Highest life satisfaction indexes in poll after poll.
_____________________________________________________

Sweden is the best place on earth

https://www.10news.one/sweden-on-the-brink-of-civil-war-national-police-chief-help-us-help-us/

http://speisa.com/modules/articles/index.php/item.2527/norwegian-government-we-will-abandon-international-law-if-sweden-collapses.html

#165 SimVan on 10.05.17 at 11:44 pm

LOL!!! Harper was such a failed, weak leader that all it took was a few enviro hippies in BC to stop his ” Canadian energy superpower” dream.

You ConBoomers are even more pathetic than I thought.

+++

Rather than sitting around mewling and puking you should focus on improving your reading comprehension. As previously stated I am not a Conservative. I am not a Boomer.

I am actually a card carrying Federal Liberal and have been since I was 18 years old.

#166 JustMe on 10.05.17 at 11:44 pm

#135 OttawaMike

let’s go back to discussing Scandinavia.
Happiest people on Earth. Highest life satisfaction indexes in poll after poll.
____________________________________________________

Sweden from a housing perspective

https://qz.com/264418/why-its-nearly-impossible-to-rent-an-apartment-in-stockholm/

http://www.bbc.com/capital/story/20160517-this-is-one-city-where-youll-never-find-a-home

http://uk.businessinsider.com/sweden-house-prices-bubble-2016-1

#167 cd on 10.05.17 at 11:51 pm

from your last paragraph… ‘But the kids love this guy’… A lot of kids don’t vote as much as the older people. He is going to take some of Justin’s votes which will make the conservatives a solid chance of winning. Similarly pattern with Nader taking away some of Gore’s vote which allowed Bush to win years ago.

#168 DON on 10.05.17 at 11:53 pm

#20 Just Around the Corner on 10.05.17 at 6:39 pm

Hey,

VREU – stop recycling your same posts for the past two years.

We get it – the market is in a bubble – sales are declining – but no crash or price correction.

Its the same story of wily coyote hanging off a cliff, but for two years now – according to your predictions.

***********

Truth hurts! and yes there have been price declines…did you just wake up from a long 4 month nap.

#169 Chelsea on 10.05.17 at 11:57 pm

Very unfortunate that the pipeline was cancelled. Here in Ft. Langley trains come through town heavily loaded with oil containers …. and of-course grain.

In regards to JS …. I am certain his platform promise is to abolish the OAS (Old Age Security) … NDP are so left, there is no room for common sense!

In regards to real estate … would they kill the goose that lays the golden egg? Although insanely high prises, it seems RE is fueling the economy … but, the debt will sink us all …. tricky solution!

#170 DON on 10.05.17 at 11:57 pm

#25 AK on 10.05.17 at 6:46 pm

“Yes, the Dippers have never won office. But the kids love this guy. He knows it. Shiny new thing. Prepare.”
——————————————————————-
Dippers will never win the Federal office.
**************************

People said that Trudeau ‘just wasn’t ready’.

Just like the Boomers wanted to be different from their parents the Millens will do the same to a varying degree. I could see this happening. Look back in history, things always seem to swing back and forth.

#171 conan on 10.06.17 at 12:02 am

RE #161 AB Boxster on 10.05.17 at 11:10 pm
#147 Lost…but not leased on 10.05.17 at 10:46 pm
#146 crowdedelevatorfartz on 10.05.17 at 10:36 pm
#142 westcdn on 10.05.17 at 10:24 pm
and the rest…..

Reality is that basic economics is cancelling these energy developments. Oil prices crashing from over a 100 dollars a barrel to $50 is a killer. It has nothing to do with Liberal, or NDP policies.

Hard core Conservatives will waste a lot of oxygen trying to convince you otherwise, but they are not going anywhere, except down for the count, in 2019.

#172 Robert White on 10.06.17 at 12:04 am

#148 Crowdedelevatorfartz…

It’s my real name, and I actually have an evil twin but ‘it’ does not live in Toronto. ‘It’ was born in Toronto as I was but neither of us live there now.

RW

#173 DON on 10.06.17 at 12:08 am

Garth I knew you had a whopper of a post coming. China is also slowing, same as UK (both housing markets in trouble). Cycles overlapping cycles and the lean times seem to be returning. Also seems like the generational cycle of corruption is peaking.

Socialism is the new Capitalism.

#174 S on 10.06.17 at 12:09 am

#135 OttawaMike on 10.05.17 at 10:11 pm
“As for the lefties, let’s go back to discussing Scandinavia.
Happiest people on Earth. Highest life satisfaction indexes in poll after poll. Also highest taxed.
USA bastion of capitalism. Always middle or low on the rankings for happiness. Just like their taxation.

What gives?”

Ever noticed how the neutered dogs “seem” the happiest?

#175 n1tro on 10.06.17 at 12:09 am

#32 JSS

Jagmeet Singh = HOT

I’ll vote for him.
Plus he’s got a growing legion of women fans.
================================
In what universe is JS hot? If you mean hot as in he isnt an old boring white guy like every other PM, then yes.

Dude is single because he can’t marry outside his religion the same reason he can’t cut his hair. The available hot women are far and few. I give props for staying true his beliefs unlike others who eat meat and trimming their beards to that pencil line around the chin douchebag look.

For all those worried about his platform, maybe, just maybe he is playing the crowd to get elected ya think? Dude is too educated to believe giving handouts to canadians is sustainable. In any rate, if he does something stupid, I will have a talk with his parents to sort things out.

#176 DON on 10.06.17 at 12:12 am

Don’t worry though instead of going ahead with energy east to Canadian refineries, they want to break down the sludge to ship through a pipeline over an earth quake zone and pristine BC wilderness and off to China (no canadian refineries). That bitumen sinks to the ocean floor – and will be shipped through some of the roughest waters in the world (pretty much all year round – less in the 3.5 summer months – even then still dicey).

China is signing big energy deals with Russia, renewables becoming more viable, technological advancements and most importantly a changing of the guards.

#177 Frank on 10.06.17 at 12:15 am

SCM, US status, its like a far away lover. They never forget you… A bit more than you might want to chew – no TFSA, mutual funds, Canadian ETFs, cash value insurance. With Treasury asset reports, taxable home sales…

Dropping weights at the gym, are you an athlete or model?

I only date socially conscious journalists. And I check the portfolio.

Puerto Rico really needs journalists right now, to get assistance. They’ve been ignored and forgotten. Its pretty desperate. With the largest public bankruptcy in the US, the government can’t help much.

But its home to the worlds most listened to song https://www.youtube.com/watch?v=kJQP7kiw5Fk from old San Juan.

#178 n1tro on 10.06.17 at 12:20 am

#91 Screwed Canadian Millenial on 10.05.17 at 8:53 pm
Garth the SJW feminist! Im cracking up at the gym so hard i almost dropped the weights.
======================
Those 15lbs can be a real bitch. Careful not to bulk up too much or you wont be able to fit into your precious skinny jeans that stop before your ankles while wearing your penny loafers sockless of course.

#179 DON on 10.06.17 at 12:29 am

#39 Blobby on 10.05.17 at 7:12 pm

Why is legalizing weed awesome stupidity?
********************

Cause if they legalized it – it will become cool to smoke pot all of a sudden. Kids will be able to access it easier. And most importantly it will lead to massive job cuts, and an inability to shelter income from taxes. No more jobs for local peddlers or cultivators who may also be incorporated or sole proprietors. Plus it is never a good idea to release a new drug on the market that makes people crave snacks – could cause a stampede at the snack counter and lead to mayhem and deaths.

Boomers grew up in a time where a marijuana user would be considered a lazy, hippy and some still think that way in light of medical uses.

And my favorite – if we legalize Mary Jane more people will drive around impaired??? FFS people have been driving stoned and drunk since alcohol and pot and horses/cars have been around.

Did you catch the story of the anti-abortion lawmakers screwing around and then asking the women to have an abortion. FACE Palm is not enough in this case.

#180 DON on 10.06.17 at 12:30 am

#44 Pete from St. Cesaire on 10.05.17 at 7:22 pm

As for the pipeline..who cares. Ship it by rail. We have the railroads in place already. Why spend years building a pipeline with all of the expenses, the expropriations and related battles, the first-nations land use negotiations, the environmental impact and it’s costly assessment. This pipeline would most likely never get built anyway; some political party would make it an election issue and cancel the project upon winning, then the taxpayer would be on the hook for billions in cancellation penalties, etc and a couple of years later another government would reinstate the whole thing and start over.
Another reason why moving oil by rail is preferable. You can re-route trains in case of trouble or labour strikes or disasters or sabotage or war, or in the case of newer better refineries opening up elsewhere, or in the case of a railway line disruption/washout, but you can’t re-route a pipeline. If you want more jobs, make them railway jobs; new tank cars, track improvement, more trains and more crews.

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

Exactly!

#181 Russ on 10.06.17 at 12:32 am

Screwed Canadian Millenial on 10.05.17 at 9:53 pm

I’m not trolling. I’m dead serious and I back up all my statements with facts.
========================
.
That’s just what a troll would say.

#182 DON on 10.06.17 at 12:35 am

#65 I thinks I know something on 10.05.17 at 8:04 pm

Well, so much for rising interest rates. Rates will probably be going down in the near future. Maybe even into negative territory.

And so, GTA RE (especially SFD) will NOT be going down in value. Waiting for the last 10 years has been a fools game. It will continue to be so.

Rates will not decline. — Garth
***************************

I think you didn’t read or understand Garth’s post. The fact they can’t raise rates is a signal of trouble brewing and it is world wide – the lean times which could bring job losses and restricted credit.

#183 JustMe on 10.06.17 at 12:36 am

#155 Yaroslav

Supply side economics. Real gem. Right up there with the theory that disasters like the Fort McMurray wild fire and hurricanes fuel economic growth…

—————————————————————————–

I can’t find the link now, but recently I read a story about why the Swedish economy is booming and will continue to do so indefinitely. There is a construction boom to build housing for the refugees.

These construction jobs are guaranteed to continue into the future because “there is an unlimited demand for free housing”. This creates huge economic growth by the usual measure of GDP. Nobody stops to ask who is paying for it.

https://www.thelocal.se/20160531/fewer-than-500-of-163000-asylum-seekers-found-jobs

https://www.opslens.com/2017/02/14/refugees-will-cost-sweden-32-7-billion-year-16x-budget-500-jobs/

#184 n1tro on 10.06.17 at 12:37 am

#141 Walter Safety on 10.05.17 at 10:23 pm
Jagmeet won’t get the female vote when the girls find out there’s a 9 year old in India that’s been pledged to him in marriage and the dowry has been paid.
======================
Dude, if you are going to make racial slurs, know the difference between muslims and sheiks. Technically sworn enemies, sheiks came to be to defend against muslim aggression back in the day. Next to buddhists, sheiks are the most tolerant of other cultures and religions.

#185 DON on 10.06.17 at 12:42 am

#58 Rexx Rock on 10.05.17 at 7:48 pm

#8 Keith in Rio
I think Keith may be right.In a few years some people will wake up and see all the theft our goverments are doing and leave our beloved socialist country.
New tax grabs are nothing new.It always come to a point when the idividual says it can’t take it anymore.They make a change and say its over,no more.I think a 65% marginal tax bracket will be the final straw.
*******************

Brazil is great!

22,000 strong gang – grew in the prison system.
Brazil Gas Company – government corruption
Top leadership under investigation.
Growing gap between rich and really poor.
Olympic bid corruption
Attempted bank robbery (250M) foiled as the well built and ventilated tunnel was discovered – possibly financed by the big gang (similar heist throughout the country)

Yah….just great!

#186 morrey on 10.06.17 at 12:53 am

“the awesome stupidity of legalizing weed”
Good One!
“Why’s the Jag guy bad economic news”
Good Two!

i fear for canada

#187 Jimmy Jagmeet and twitter history on 10.06.17 at 12:57 am

Jagmeet for PM!!! He aims to uplift canuckistan to the
level of cuba

His eulogy to Castro… millennial’s he’s your man.

“He saw a country wracked by poverty, illiteracy & disease. So he lead a revolution that uplifted the lives of millions. RIP #FidelCastro”

#188 Ex-Cowtown on 10.06.17 at 1:17 am

109 Sixteenth Minute on 10.05.17 at 9:15 pm
#57 Ex-Cowtown on 10.05.17 at 7:48 pm

The game is changing fast. Think of it like those little transitions from “nobody has a cell phone” to “everybody has a cell phone” to “everybody has a smartphone”. Completely transformative in just a few years… and that’s just one function of improved batteries.

++++++++++++++++++++++++++++++++++

Lousy analogy. There’s nothing transformative about renewables. Unless you consider over-priced, unreliable and intermittent to be desirable transformative qualities. I just call that a third world power grid. Nothing to brag about.

Just ask Ontario how all that’s working out for them. Not good.

But don’t fear; your youthful naivete is something you’ll grow out of. Just hopefully not in the dark.

#189 slippery cricket on 10.06.17 at 1:32 am

Dearest Victoria Real Estate Update , as much as I do enjoy reading your posts I have come to realize that this stupidity that we are witnessing in real-estate is not going away any time soon. I just returned from a weekend in Victoria and love the city and enjoy my visits every time. But being close to retirement I am not interested in spending my life’s saving on a home there. I accept the fact that owning a home is not in my best interest. Prices will not drop for a very long time in Victoria and rents are reaching a level I would not be willing to pay. I look forward to your posts, and hope your predictions of dropping prices is a reality some day. But I’m not holding my breath!

#190 KT on 10.06.17 at 2:14 am

The problem is that the wealthy don’t like to share their wealth. Only hide it in off-shore accounts. Therefore socialism is inevitable. I’m getting my turban ready.

#191 BS on 10.06.17 at 2:46 am

#9 Pete on 10.05.17 at 6:30 pm
I’m an NDPer and I like the guy. If what you say is true about Jagmeet I can’t vote for something so reckless. I hope your wrong Garth.

Read his platform. I did. — Garth

Wow, you “like the guy” but know nothing about his platform and what he intends to do? You sound like a T2 voter. Taking a good selfie is more important than having a coherent plan to run the country.

#192 jane24 on 10.06.17 at 2:54 am

Well Garth this blog was getting bit samey but this was great post. I was also wondering why with all the potential bad economical news out of Canada the dollar was sailing so high. It will drop fast. The elite sadly playing games with our lives. Yes you did need to add NAFTA to that list.

yes the kids will vote NDP as:

1.they are disappointed with T2
2.they have no skin in the game
3.they have no political or voting experience so don’t know disaster when they see it
4.many are over-educated greater fools.
5. they don’t know their political history.
6. they buy flash and bling.

How do I know this? Well in the recent British election my kids voted labour(NDP) because the leader promised to cancel all outstanding student loans. After he lost he agreed that there was no way that was affordable but the kids believed him at the time.

Really enjoying Brexit and can’t wait for the Italian elections in the Spring, where the anti-EU and anti-euro Five Star Movement party are top of the polls. Can’t believe that folk will vote for a professional circus clown with a prison record but there you go. Worse than T2. His slogan is in English and is literally F**k Off. Wears it on his t-shirt. Voters!!

#193 BS on 10.06.17 at 2:57 am

Yet two more tax brackets for high income-earners, pushing the top levy to almost 60%. A capital gains inclusion rate that rockets from 50% to 75%. A 40% estate tax. An increase in the overall corporate tax rate with fewer allowable deductions. Plus, a guaranteed annual income for everyone, $4 billion more a year doled out to seniors, a $15 minimum wage everywhere

People get to pick between working hard and then pay 60% tax, getting a job for $15 per hour or not working and getting a guaranteed income with no tax. Tough decision people will have to make. Who do they expect will be the dummies doing the working?

#194 Eco Bob on 10.06.17 at 5:51 am

All I read in September in the news was how amazing and strong the Canadian economy is. I knew it was bs. What shocks me though is how quickly they will change their headlines. Talk about fake news. “Canada strongest GDP growth on planet” then next day “Canada trade deficit bigger than ever, big trouble”. The news is useless. It’s not even news it’s just bs to support someone’s political views.

Canada is a global housing superpower. It doesn’t need exports!

#195 Eco Bob on 10.06.17 at 5:59 am

Why, suddenly are there no news articles about real estate in Canada? There used to be tons each day. Now, totally silent.

#196 When Will They Raise Rates? on 10.06.17 at 6:12 am

#100 Reality 1 on 10.05.17 at 9:04 pm

to # 70 Screwed Canadian Millennial

No troll, it took a bunch of your short sighted ilk in your collective idiocy to vote for the dope and Truedope to seriously f*ck up your future prospects.

Economic reality will eat you fools alive.

Think you are disgruntled now – you ain’t seen nothing yet.

Reap what you sowed.

If you ever make a meaningful income, you will come to understand your error in the fullness of time.

Then again, your willful blindness and your closed and bitter mind will still be blaming someone else. It is all you know how to do.

Enjoy your self imposed torture.
——————————-

^ Greaterfool.ca comment of the year. Where can I submit my vote?

#197 Rainclouds on 10.06.17 at 6:20 am

#127 I’m not trolling. I’m dead serious and I back up all my statements with facts.

Actually you generalize, insult, are repetitive, and go on nonsensical rants. Frequently.
Intermittently short bursts of lucidity and intelligence emerge. All in all you seem quite immature.

A troll

https://en.wikipedia.org/wiki/Internet_troll

#198 Dharma Bum on 10.06.17 at 6:36 am

” ‘That supports our call for a 2% or so growth pace for the third quarter, and for the Bank of Canada’s ‘monitoring’ of the economy to translate into a pause in interest rate hikes.’ ”
——————————————————————–

Is that thunder I hear?

Oh…sorry…it’s the sound of millions of Canadian debt pigs applauding.

Pity the fools.

#199 Dharma Bum on 10.06.17 at 6:50 am

#12 crossbordershopper

“…eat your government cheese and weed while you have a tim’s double double and wait for your monthly cheque.”
——————————————————————–

Haha!

Yes.

THAT should be the official federal statement of what defines Canadian cultural identity and values!

Etch it in granite and plunk it on the front of the parliament buildings for future generations of our welfare state to gawk at.

#200 Keith in Rio on 10.06.17 at 7:03 am

#184 Don…..

Thank you for pointing out the similarities between Kanaduh and Brasil. You aint seen nothing yet……..heh…….allow me to be a little more succinct.

In Kanaduh we have murderous street gangs that commonly kill innocent bystanders. But the biggest gang of all dresses in BLUE and us run by the various levels of government.

Government corruption is endemic in Canada a well. Ever heard of Quebec ? And if doesn’t end there.

Rich and poor gap ? Where do you live ? I a member of the 1%…….the middle class in Kanaduh is vanishing as they become debt slaves because they have become conditioned to do so by the…….wait for it…….corrupt government.

The IOC is a criminalienable organization. If you don’t think the money trail leads to the doors of power in every country they swindle, I’ve got some $500 hockey tickets for you to buy.

Bank robbery LOL…….like they don’t happen in Kanaduh. But up there……..the bank robs you !!

It’s going to be 38 degrees today…….I going to wear a t-shiry, shorts and flip flops as I walk 4 blocks to the beach. But first I need to check last night’s trades and review my bond portfolio that yields 11% in a 15% tax environment.

Better make sure I have the keys to my $75K USD condo before I go……. $5 for lunch and enough change for the $1 beer.

Enjoy life as an overtaxed and frozen ZIRPED out debt slave who is soon to be unemployed……and dead.

We all die……don’t feed the machine……starve it. Loyalty to z country is just as stupid as loyalty to your employer.
“The world is a vampire”

#201 Tony on 10.06.17 at 7:59 am

Taking a shot at the jobs figures out of America and Canada today. America 127,500 jobs created in September. Canada 2,800 jobs created in September.

#202 cropgrower on 10.06.17 at 8:01 am

The Liberals were talking estate tax years ago. Could that be back on their agenda Garth……

#203 Reality 1 on 10.06.17 at 8:17 am

to # 191 Jane 24

I wish you would post here more often.

Your experience in Re, particularly the GTA market, give us a very good topical input clearly communicated.

For myself, I find your ‘life’ anecdotes to be are similarly informative and they are greatly appreciated.

Your views, along with several others posting here post are some of the gems that get unearthed on this blog.

#204 Reality 1 on 10.06.17 at 8:22 am

RE: to # 191 Jane 24

sorry folks, didn’t edit my post before hitting send – getting old I guess LOL

but I think you got my meaning nonetheless

#205 Ian on 10.06.17 at 8:25 am

The BoC has completely lost control here. This is absolutely shocking.

The move to raise in September was a clear signal that they were on the warpath to higher rates. To back off now shows a complete meltdown in leadership. Money is not even close to being priced correctly! All they have done so far is reverse the two reductions in 2015 which were a clear mistake.

Yes, I thought housing would drag the GDP. And the rising CAD would drag exports, but come on we’re at 78c! It’s not like it’s at parity. I didn’t think either of these things would be a problem until 2018.

Now BoC has a big time problem, and not just with credibility. US Fed raises in December and if Kevin Warsh is the new chairman in February, look out. They are going to raise nonstop. BoC will be dragged upwards.

Maybe we are already seeing the policy differences between the two countries play out. US helps business, and here we can’t be communist enough. It’s a disaster. Very confusing times.

#206 maxx on 10.06.17 at 8:29 am

#53 Debtslavecreator on 10.05.17 at 7:41 pm

“Government and the BofC are the biggest takers of your income by far and somehow these left wing crazies and the dumb , brainwashed voters who elect them somehow think even more government theft and intervention is the answer ???????????????”

Trouble is, that cohort is comprised mainly of entitled, lazy and shallow fools who just want someone sexy (verrry subjective) to “fix it”. Brand, shiny new.

Inexperienced, so-called stud-muffins are proving to be an extreme disappointment. After the horror of the messes are parsed, it’s kinda like the feeling a fortune cookie gives you – you want to trade with someone else. Again and again. Empty shells.

Voter simpletons are overwhelmingly innumerate. An easy and insightful calculation, done on the basis of, for example, sliding interest rates on 5-year investments over the past 17 years will reveal what lost savings have been rerouted to FIRE. Individual investment mix varies, but this is the easiest way to see how gubbmint mucks with personal finances and the mind-messing perception that your savings aren’t worth spit……they are. People have generally no concept of how precious liquid is in this mangled economy.

Borrow to the point of puking, spend to service your ego and pay more tax!

#207 LP on 10.06.17 at 8:32 am

#183 n1tro on 10.06.17 at 12:37 am

I think you mean Sikhs. You should “learn the difference” too.

#208 jess on 10.06.17 at 8:37 am

donald trump jr.

“Today’s conservative speech is violence. Unprovoked liberal violence is self-defense,” Trump Jr complained. “Words have lost their meanings.”

He continued: “‘Hate speech’ is that America is a good country … that we need borders … anything that comes out of the mouth of the president … the moral teaching of the Bible.”
https://www.theguardian.com/us-news/2017/oct/06/donald-trump-jr-says-college-campuses-teach-americans-to-hate-their-country-and-religion
=========
soho -inflating the numbers
the Martin Act, a New York statute that bans any false statement in conjunction with the sale of a security or real estate.

60% sold when in reality was 15%
Their complaint accused the sellers, including the Trumps, of “a consistent and concerted pattern of outright lies.” …”The Trump SoHo went into foreclosure in 2014 and was taken over by a creditor. Only 128 of the 391 units in the building have sold. That comes out to around 33 percent.
https://www.propublica.org/article/ivanka-donald-trump-jr-close-to-being-charged-felony-fraud

#209 IHCTD9 on 10.06.17 at 8:44 am

Yet two more tax brackets for high income-earners, pushing the top levy to almost 60%. A capital gains inclusion rate that rockets from 50% to 75%. A 40% estate tax. An increase in the overall corporate tax rate with fewer allowable deductions. Plus, a guaranteed annual income for everyone, $4 billion more a year doled out to seniors, a $15 minimum wage everywhere, an end to government support for the oil business (our primary export) and deficits from here to eternity.
_________________________________

Holy what a train wreck!

LOL!

Why not just cut to the chase?

“all your wages are belong to us”

#210 jess on 10.06.17 at 8:45 am

what if one doesn’t need a pipeline to deliver?

Balls of bitumen: Calgary breakthrough could bypass pipeline problem …
http://www.cbc.ca/…/bitumen-balls-pellets-pipelines-rail-train-transport-energy-alberta-technol...
Sep 6, 2017 – Bitumen balls could be a pipeline-free way to transport Alberta oil0:30 … If you put them in water, they’ll sit like that for a very long time,” Gates said. … The balls are an ideal feed stock for road paving, without the need to .

#211 Dan.t on 10.06.17 at 8:47 am

#194 Eco Bob on 10.06.17 at 5:59 am
Why, suddenly are there no news articles about real estate in Canada? There used to be tons each day. Now, totally silent

——————-

What are they going to post?

Like 2004 when Timmy, 26 was right out of University, student debt, first job, just bought a 210k YVR condo, front page news, puff piece to start getting people to buy and buy and take out credit and buy more real estate etc… just please get the economy going…

Hell, we will even just give you money to buy real estate, no income verification, o down, liar loans, etc… everyday RE pumping, brainwash everyone, look how it worked.

Now what will the article puff piece be?

Johnny, 26 just out of university, student debt (most likely more debt), first job (probably lower wage), forced to live with 3 roommates, or pay over 2k rent for something half livable, looking to buy the same condo for 680 k or more…what would the article say? Quote “I give up, I will never be able to buy, think I ll move somewhere else..”

….and if the article came out, the Sun or Province news would say buy now, super affordable because Johnny can get 2 mortgages thanks to 37k free provincial home grant (something like the 10th provincial grant and gov incentive to keep people buying at any price), and what a great deal….

Or post an article of how anyone over 50 who bought a normal house around YVR just cashed out and moved an hour away armed with 1 million tax free dollars with huge smiles on their faces, thanks to all those other Johnny’s who loaded up with massive debt to fund helping fund the boomer retirements or thanks to foreign buyers, but that is a non-issue I guess.

Good thing the NDP is there to stop the madness. Oh, wait, they just said they don’t want to touch affordable housing issue 4 months after winning an election based solely on selling affordable housing initiatives.

Actually, I m not sure where the articles went but I m sure they will come out soon telling the herd how to think next and what to do, sponsored of course by the real estate board. All you need is houses and hockey and access to tons of credit, right? Then the party can continue. At least McDavid is on fire.

#212 Peter gottschlich on 10.06.17 at 8:57 am

Well said. I appreciate the financial advice almost as much as the great writing and witty humour. Well done!

#213 IHCTD9 on 10.06.17 at 9:07 am

#192 BS on 10.06.17 at 2:57 am

Yet two more tax brackets for high income-earners, pushing the top levy to almost 60%. A capital gains inclusion rate that rockets from 50% to 75%. A 40% estate tax. An increase in the overall corporate tax rate with fewer allowable deductions. Plus, a guaranteed annual income for everyone, $4 billion more a year doled out to seniors, a $15 minimum wage everywhere

People get to pick between working hard and then pay 60% tax, getting a job for $15 per hour or not working and getting a guaranteed income with no tax. Tough decision people will have to make. Who do they expect will be the dummies doing the working?
_________________________________

Put it this way, I’m 45, been working my career job in the same industry since 23 years old. The industry I work in cannot survive the current crop of Canadian voters. I am sure I won’t make it to retirement in this industry, or any heavy industry at all for that matter. All of us here know it, and even the millennials I work with appear to be preparing for having their careers cut off at the knees by Globalism and Government.

So, if I get 10 more years, what are my prospects at 55 with 32 years experience in a totally dead industry?

Well, they’re approximately zero.

So it’s either flipping burgers for $15.00/hr, or fishing and trail riding every day for basic income. Everything is paid for, no debt, got bank. It’s a no-brainer, you’d have to be a dancing fool to jump back into the private sector rat race under these conditions in Singh’s Canada LOL!

I guess it’ll be the government employees providing the tax revenues required by government. Although I’m not sure how that is supposed to work…

#214 fancy_pants on 10.06.17 at 9:11 am

You will be paying $25 for a loaf of bread before rates ever find their way to ‘historical averages’

#215 Penny Henny on 10.06.17 at 9:11 am

but, but, but…..

Didn’t Doug and Ryan change the weightings to be more Maple?

Garth you can see the dark side of everything.

Come on over to the sunny side of the street, it’s nice here.

#216 unbalanced on 10.06.17 at 9:19 am

Whatever happened to the blogger—Metaxa??? He sure had some good stories.

#217 milleniallmoose on 10.06.17 at 9:23 am

I blame the PC party. They always pick someone deplorable (Look at Kevin O’Leary trying to be Trump 2.0) and give themselves a bad rap. They need to be progressive and appeal to the millennials but they won’t. Most in my generation see them as outdated old racists and sexists who favor the wealthy and will not vote for them (except for small groups of young people who are sick of SJWs or are very religious)! They need to really re-vamp the party if they ever want to stand a chance.

#218 jess on 10.06.17 at 9:32 am

jumping the Q

“We are are in the 21st century, and in Madagascar, there is plague, because of the poverty. People are poor, and they are fighting to survive,” he said

http://www.cbc.ca/news/world/madagascar-plague-outbreak-1.4329327

====
Biometric face-scanning /passports a airports
https://www.swissinfo.ch/eng/automated-passport-control_biometric-face-scanning-online-at-zurich-airport-/43553200

#219 Another Deckchair on 10.06.17 at 9:35 am

@sixteenth Minute:

(this has broader ramifications for housing, not really about the oil industry)

I’m not going to disagree with you, but, cycling around Ottawa on a glorious day yesterday, highlighted a few items:

1) People love their cars. Shopping centres were full, Tim Hortons drive throughs were overflowing onto the roads. I love my bike, but I was maybe 0.001 % of the people moving about, on that beautiful day.

2) Electric cars are carbon-intensive; google the carbon footprint of cars based on country; (an electric car CAN have over 2x the carbon footprint of an oil-based car) so, actually, having cars of any type has to be stopped. I think that Canada rates about 0.8x, so we are close to neutral on the gas/electric scale.

3) Here’s a report, this guy (Euan Mearns) is well worth reading, and supporting. Here is a negative review of an electric car, but if you can read between the lines, and understand the meaning, not just what he’s saying:

http://euanmearns.com/mercedes-b-class-electric-and-diesel-cars-compared/

4) Ok. So cars have to go, as then do highways and then subdivisions, so we need more housing infill, WITHOUT the wasted space for cars.

5) If we take cars off the road, then, how do we do the last mile for goods transport? Garbage pickup? Fire and Ambulance access?? In other words, how do we fund the roads? If subdivisions go (and, everybody lives in a 50 story condo) do we really need public access roads at all?? Probably not.

6) WHAT IS THE GOAL? To reduce the carbon footprint of each and every one of us on this (warming) planet? In that case, we (everybody, world wide) needs to re-think how our society works.

To conclude – our society will have to change in almost every detail for us to go away from an oil based lifestyle. I doubt whether many political divisions (countries) would survive the impact. If you have thoughts or ideas, and have the ability, then the world needs you, as nobody strong enough has yet stepped forward.

#220 chapter 9 on 10.06.17 at 9:42 am

Both Justin and Jajmeet both forgot to include in their platform-abolish ownership of private property, religion, and the right to vote!!

#221 Penny Henny on 10.06.17 at 9:43 am

#76 I’m stupid on 10.05.17 at 8:34 pm
#32 JSS

Jagmeet Singh = HOT

I’ll vote for him.
Plus he’s got a growing legion of women fans.

Good luck with that. 39 successful, never married and single= in the closet homosexual. If you’re looking for a gay best friend he’s your guy. And there’s nothing wrong with him being gay, he should just be honest.

Experience talking? — Garth

///////////////////

maybe he is a confirmed bachelor like Freedom First

#222 jess on 10.06.17 at 9:44 am

who are the private shareholders?

The Bank for International Settlements (BIS) is an international financial institution owned by central banks which “fosters international monetary and financial cooperation and serves as a bank for central banks”.
The BIS is a closed organization owned by the 55 central banks. The heads of these central banks travel to the Basel headquarters once every two months, and the General Meeting, the BIS’s supreme executive body, takes place once a year.

But as the New York Federal Reserve Bank currently states on its website:

As of March 2006, the BIS had 55 shareholding central banks from around the world. As of March 2006, the Bank’s assets were approximately $221 billion, including $5.8 billion of its own funds.When the BIS initially raised capital, participating banks were given the option to buy BIS shares or arrange for those shares to be bought by the public. Currently, 86 percent of the shares of the BIS are registered in the names of central banks, and 14 percent are held by private shareholders. The shares owned by private shareholders consist of part of the French and Belgian issues and all of the shares that were in the original U.S. issue in 1930.

So the private banks own the Fed (and most other central banks), and the central banks – and private shareholders – in turn own BIS, the global bank regulator.”
http://ritholtz.com/2011/07/the-worlds-biggest-central-bank-has-private-shareholders/

And to find out if the shareholders enjoy any special benefits. As Spiegel notes:

Formally registered as a stock corporation, it is recognized as an international organization and, therefore, is not subject to any jurisdiction other than international law.It does not need to pay tax, and its members and employees enjoy extensive immunity. No other institution regulates the BIS, despite the fact that it manages about 4 percent of the world’s total currency reserves, or €217 trillion ($304 trillion), as well as 120 tons of gold…”

#223 Ian on 10.06.17 at 9:45 am

As for Jagmeet, I hope he does brilliantly! We need the Liberals to be under attack from all sides so Scheer can become PM.

Go Blues!!!

#224 Penny Henny on 10.06.17 at 9:45 am

oh yeah, that means the same thing.
Nevermind

#225 jess on 10.06.17 at 9:57 am

#191 jane24 on 10.06.17 at 2:54 am
Berlusconi? a clown with money
man cave with the unground sea exit especially the featured ” mosaic of Poseidon, the god of the sea, holding a trident.

http://www.telegraph.co.uk/news/worldnews/silvio-berlusconi/9528321/Silvio-Berlusconis-James-Bond-style-underground-cave.html

#226 IHCTD9 on 10.06.17 at 10:03 am

#170 conan on 10.06.17 at 12:02 am
RE #161 AB Boxster on 10.05.17 at 11:10 pm
#147 Lost…but not leased on 10.05.17 at 10:46 pm
#146 crowdedelevatorfartz on 10.05.17 at 10:36 pm
#142 westcdn on 10.05.17 at 10:24 pm
and the rest…..

Reality is that basic economics is cancelling these energy developments. Oil prices crashing from over a 100 dollars a barrel to $50 is a killer. It has nothing to do with Liberal, or NDP policies.

Hard core Conservatives will waste a lot of oxygen trying to convince you otherwise, but they are not going anywhere, except down for the count, in 2019.
_______________________________

Only a willfully blind birdbrain would claim government had no role in the outcome of a trans national pipeline. I understand the sting you must feel after realizing your team basically murdered the financial future of thousands of Canadians, but usually the guilty plead the fifth without all the noise you’re making.

PS, I’ll probably be voting Trudeau next election. I say probably now because new NDP boss Jugman’s policies suggest he was born on the moon and is absolutely totally insane – which would make a better Canadian PM for current conditions. Better meaning total destruction of the middle class and federal revenues in the shortest possible time frame. Trudeau definitely has some competition now.

See you at the polls ************.

#227 IHCTD9 on 10.06.17 at 10:04 am

#220 Penny Henny on 10.06.17 at 9:43 am
#76 I’m stupid on 10.05.17 at 8:34 pm
#32 JSS

Jagmeet Singh = HOT

I’ll vote for him.
Plus he’s got a growing legion of women fans.

Good luck with that. 39 successful, never married and single= in the closet homosexual. If you’re looking for a gay best friend he’s your guy. And there’s nothing wrong with him being gay, he should just be honest.

Experience talking? — Garth

///////////////////

maybe he is a confirmed bachelor like Freedom First
______________________________

Jagmeet = MGTOW!!

#228 IHCTD9 on 10.06.17 at 10:12 am

#216 milleniallmoose on 10.06.17 at 9:23 am
I blame the PC party. They always pick someone deplorable (Look at Kevin O’Leary trying to be Trump 2.0) and give themselves a bad rap. They need to be progressive and appeal to the millennials but they won’t. Most in my generation see them as outdated old racists and sexists who favor the wealthy and will not vote for them (except for small groups of young people who are sick of SJWs or are very religious)! They need to really re-vamp the party if they ever want to stand a chance.
________________________________________

If the Cons just turn themselves into NDP’ers to become popular – what then are you voting for?

I won’t vote for any Con that isn’t a Con. If Conservatism is dead, so be it. It will only be for a little while…

Until then, I’ll be voting for the financial destruction of all Canadians via the Liberals or NDP. No sense in wasting time with any party that isn’t busy fixing the issues or busy totally ******* up the country. I’m not down for decades of bickering and slow decline.

#229 joblo on 10.06.17 at 10:17 am

Bitumen Balls, gotta love it.
Loadem up on Buffets trains and get goin.

#230 Kelowna on 10.06.17 at 10:21 am

Jag will never win in a million years.

He’ll clean up Surrey and other areas dominated by Indians or left wing academics, but in Quebec and in most of English Canada they’ll never support an Indian.

Our PM’s have almost always been ethnically British or French. The only one I can think of who wasn’t was John Diefenbaker, who was of German heritage.

It’s really big jump to go from that to an Indian.

Being a minority and being a mayor of a city is one thing. Being PM is another.

Maybe in a 100 years Jag will have a chance. But not now.

#231 Noware on 10.06.17 at 10:22 am

I like your blog dude but you conservatives are a basket of contradictions. In the same article you shun government support for seniors, minimum wage workers, etc, yet panic at the idea that a Singh government would end support for the oil biz. Say what you will about the Left but at least we’re consistent.

#232 Stan Brooks on 10.06.17 at 10:29 am

The NDP guy is definitely smarter than T2. I won’t feel insulted intellectually by him being a PM.

For elected PMs from minority groups (including french speaking) usually is very hard to be objective and consider the interests of Canada as a whole. He needs to be strong for sure, I wish him good luck.

As for his platform, I don’t like it, pretty populist, he will target for sure the upper and middle middle class and spare the rich, but it sees in more extremes than T2.

My concern of course is that both T2 and JS will target the blood and healthy cells of the complex societal organism for the benefits of the cancer (the ultra rich) and the fat (the lazy).

If we want a healthy society we need to remove the cancer and trim the fat, not the other way around.

Living in a sicker, constantly deteriorating, less and less healthier society is not fun.

Almost every single event or news in the last 10-15 years pretty much confirms my point of a very, very different Canada in the years to come.

Good luck.

#233 AB Boxster on 10.06.17 at 10:42 am

#170 conan on 10.06.17 at 12:02 am


Reality is that basic economics is cancelling these energy developments.

————————————————-
Total pile of bullshit.

Pipeline planning and decisions are made over the long term.

TransCanada has been pushing this proposal at $45 a barrel oil because they know that prices cannot stay this low over time. They are a private business making business decisions.

They invested over a billion dollars in this project.

The only thing that has changed, since the project was proposed, was that the Liberal cockroaches forced the NEP to consider upstream and downstream carbon effects.

It’s like saying that any new auto plant in Ontario would have to be reviewed on how much pollution that the cars it manufactures, creates.
If this applied to auto factories, there would never be another car produced in Ontario.

Which I think is fair now given the environmental standard set for pipelines.
(You folks are all about fairness right?)

It would be like a hydro project in BC (or Canada’s darling Quebec) being reviewed for the end uses of its electricity.

What?
You are selling electricity to provide power for Ontario’s greenhouse gas spewing industries?
Well no hydro project for you suckers.
Time to shut down all Quebec hydro. It’s only fair.

It would be exactly the same as considering the pollution that Bombardier planes spew into the air, prior to providing billions of dollars of corporate welfare to Quebec.
I agree. We should shut this industry down.

Which of course never happens, because, Canada is broken, and Liberals are corrupt.

Multiple billions of dollars or investment has been lost to this country because of Liberal ineptitude and stupidity.

Consider this, expert.

Every industry, that has taken capital and left Canada, has invested said capital elsewhere.

How is it that Petronas can cancel its LNG project in Canada, but still invest in projects elsewhere in the world, and make money?

How is it that huge LNG projects have been built in the US and Australia, during the time that Canada has been screwing around with regulation and social license?
Somehow these projects were economical at current prices, elsewhere. But not in Canada.

Do you really think that TransCanada will not reallocate its capital to building pipelines elsewhere?

If your argument held water, then how is it that they can build pipelines in the US and anywhere in the world at the current price of oil, but not in Canada.

Canada has effectively been closed for business by the Liberal incompetence.

But it’s OK though.

Our diversity makes us strong.
And budgets balance themselves.

Have another toke.

#234 Renter's Revenge! on 10.06.17 at 10:43 am

#208 IHCTD9 on 10.06.17 at 8:44 am

“all your wages are belong to us”

Nice one. But I think a more faithful paraphrasing would be:

“all your wage are belong to us”

#235 Stan Brooks on 10.06.17 at 10:50 am

#227 IHCTD9 on 10.06.17 at 10:12 am

Interesting view, helping to accelerate the downfall.
Unfortunately these cycles run for a very long time, it won’t be quick.

Once a country loses competitive advantage it is very, very hard to gain it back, specially in today’s world.

At the gates of Dante’s hell there is a sign in Latin:
“Lasciate ogne speranza, voi ch’intrate”
“Abandon all hope, ye who enter here”

I am at this point for quite a while now.

I also always thought that hell should be a frozen, not a hot place.

So for me the decision was easy.
I am not waiting for the next life.

#236 El Joko on 10.06.17 at 10:53 am

As one of the posters here who regularly expresses fairly left-wing views (at least by this blog’s standards), the Jagmeet Singh thing has disaster written all over it.

Most Sikhs I know are conservative-minded small business types. Yet many signed up to the NDP just to get Singh elected. The rest of the floozies over in the NDP were falling all over themselves to choose a minority, if only to show how progressive Canada is.

This feels like a potential Obama scenario – a third of the country wanting to wave the biggest virtue flag of them all – another third absolutely hating the idea (and possibly creating a reactionary, Tea Party-like movement against it), and the rest concerned about what the two factions of lunatics are doing.

#237 n1tro on 10.06.17 at 10:59 am

DELETED

#238 r1200c on 10.06.17 at 11:02 am

Can someone tell Quebec that everything Bombardier produces burns non renewable fuel – made from oil… so if they don’t want a pipeline because it’s not “earth friendly”… maybe they should shut down their dirty industries too…

#239 IHCTD9 on 10.06.17 at 11:02 am

#152 Sixteenth Minute on 10.05.17 at 10:53 pm

Existing contracts will expire soon enough, replaced by those for newer production which, in 2017, is coming in at ~6c/kWh.
________________________

If that’s the case, the government had better be happy with zero new private capacity, and riding their luck on a solar infrastructure they don’t own, and one that is 50% of the way to the scrap yard.

By the time new contracts are in place at whatever price they end up being, so too will the debt accumulating days of Wynnies new public corp. that is responsible for taking on debt to subsidize her hydro bill (not cost) reduction come to an end.

Then we will need to pay everything we did before – plus interest, plus what ever compensation gains were won by the Unionized public OPG/HO employees in the interim.

Fact of the matter is, regardless what we use to make hydro; come 2025 it’s going to be .35-.45/KWR MINIMUM.

#240 Ponzius Pilatus on 10.06.17 at 11:08 am

DELETED

#241 Dups on 10.06.17 at 11:10 am

So plainly putting it, Canada and its economy will be screwed for the next while.

#242 Centre Wing Millennial on 10.06.17 at 11:10 am

Hey “Screwed” Canadian Milenial (sic)
How much are you getting paid by the Liberals to be a useless troll? The talking points are so predictably brilliant!

#243 Centre Wing Millennial on 10.06.17 at 11:12 am

Hey SCM
I bet you’re too much of a coward to post a link to your Facebook profile. I’ll show you mine if you show us yours…..

#244 jess on 10.06.17 at 11:12 am

IF’S
investment banks leaving UK -banks have announced plans to relocate jobs from London to Frankfurt HQ’s drive up real estate
amazon HQ /toronto

==========
push and pull
…” Iraqi refugees generally had more money than their Syrian counterparts. With their arrival, schools and hospitals became overcrowded, food prices in Damascus rose 30% and rents 150%. Hard-pressed Syrians moved to run-down neighborhoods in Damascus, finding themselves second-class citizens in their own capital. ..”

http://www.tomdispatch.com/

#245 IHCTD9 on 10.06.17 at 11:13 am

#229 Noware on 10.06.17 at 10:22 am
I like your blog dude but you conservatives are a basket of contradictions. In the same article you shun government support for seniors, minimum wage workers, etc, yet panic at the idea that a Singh government would end support for the oil biz.
____________________________

“you shun government support for seniors, minimum wage workers”

^There is not a single individual word in the post indicating this.

“Say what you will about the Left but at least we’re consistent.”

^consistently unable to read?

I am always amazed at you lefties shooting wide of the net over and over and over again. Where does the money to run a society come from?

#246 Millmech on 10.06.17 at 11:14 am

I believe Buffet owns the largest tanker car building company in the US,win for him again

#247 jess on 10.06.17 at 11:17 am

2,865 Britons took German citizenship last year – a 360% increase from 2015

https://www.theguardian.com/world/2017/jun/13/germany-reports-rise-in-britons-taking-citizenship

#248 Nick on 10.06.17 at 11:23 am

Could this be planting a seed for a British spin-off of this blog?? ;-)

http://theconversation.com/can-britain-really-cope-with-a-fall-in-housing-prices-84353

#249 conan on 10.06.17 at 11:23 am

RE #225 IHCTD9 on 10.06.17 at 10:03 am

“Only a willfully blind birdbrain would claim government had no role in the outcome of a trans national pipeline.”

For a moment let’s put aside the catastrophic drop in oil prices. What the fandango do you expect the government to do? Are you talking corp welfare?

That is a bit rich. Alberta should have an enormous Provincial energy fund, but they don’t cause …..cause …….Con mismanagement. That fund would have put EE over the top.

#250 mikes on 10.06.17 at 11:32 am

sounds like a whole lotta backpedalling. so much for housing crash/higher rates. if anything rates will be cut and off goes housing again

There is no rate cut coming. — Garth

#251 Mike in Toronto on 10.06.17 at 11:38 am

#227 IHCTD9

PCs need to get back into federal office.

The Liberals became too soft. The NDP softer, and the ‘Conservatives’ too American, Christian and anti-science.

I would strongly support Garth as Federal PC leader.

#252 Doug in London on 10.06.17 at 12:11 pm

@milleniallmoose, post #216:
Yes, my thoughts exactly. I confess to reading the Globe and Mail and while many of you think there’s a lot of rubbish there, you do find some good articles also. In May of this year Konrad Yakabuski wrote an article where he said: There are certain evolutions in society – same sex marriage, transgender rights, and carbon pricing – to which resistance is not only wrong but futile.

They have a habit of picking leaders who leave much to be desired. Let’s look at the Ontario Conservatives. Personally I wasn’t inspired at all by their candidate Tim Hudak, found him to be a whiner and didn’t believe his “promise” of those 100,000 new jobs. I believe there a lot of people out there who would actually vote Conservative in the next federal or provincial election if they ran a campaign which suggested they actually understood we’re in the 21st century. They might even win the next election, provincial or federal with a majority!

#253 Ogopogo on 10.06.17 at 12:14 pm

I voted BC NDP for the first time ever, but only to get rid of the heinous, RE-corrupt, bubble-crazed Christy Clark. I will NEVER vote for federal NDP with these rapacious policies. It’s beyond the pale.

Upshot: NDP under Singh will split the left vote and make all but inevitable that the Cons will regain power, IF they can get their act together. So far, Scheer seems like T2-light, being politically correct to a fault and trying not to step on anyone’s toes. He’ll have to man up (there, I said) a lot more if he’s to beat PM Zoolander.

#254 Doug in London on 10.06.17 at 12:15 pm

@Don, post #179:
Yes, it looks like more oil is going by rail after all. That’s actually too bad, because the carbon emissions to move a barrel of oil a given distance is higher by rail and the risk of spillage is actually higher. Does anyone remember what happened in Lac Magentic, QC?

#255 Victor V on 10.06.17 at 12:22 pm

Canada adds 10,000 jobs in ‘ho-hum’ September

http://www.bnn.ca/canada-adds-10-000-jobs-in-ho-hum-september-1.877395

The Bank of Canada has raised interest rates twice this year, spurred by strong economic growth that has put Canada at the top of the Group of Seven nations.

While expectations for a third rate hike later this month have dwindled following cautious comments from policymakers, markets placed the odds of an increase at 18 per cent after the jobs report, compared to 12.2 per cent before.

“I think this is going to reinforce the Bank of Canada’s expectations that we’re spiraling upward on wage and price pressures in the Canadian economy,” said Derek Holt, vice president of economics at Scotiabank.

#256 Victor V on 10.06.17 at 12:26 pm

Canada gains jobs for 10th month in a row with boost in full-time work

http://business.financialpost.com/news/economy/newsalert-canada-adds-10000-jobs-in-september-unemployment-rate-steady-2

OTTAWA — A surge in full-time work fuelled a 10th-straight month of net job gains to match the economy’s longest monthly streak since the financial crisis nine years ago.

Statistics Canada says September’s unemployment rate stayed at a nine-year low of 6.2 per cent after the country added 10,000 net new jobs, including 112,000 full-time positions.

The rise in full-time work more than offset a drop of 102,000 part-time jobs, however, last month’s job gains were entirely driven by growth in public-sector employment.

#257 Ian on 10.06.17 at 12:37 pm

Who knows, maybe Mark will get his inverted yield curve after all.

#258 Keith in Rio on 10.06.17 at 12:38 pm

Scheer is a cardboard cutout of a party leader.

The kind that usually have colored balloons attached to them, while placed inside a shopping mall showing newcomers where they can get their NINJA mortgage.

Your next election result will be a liberal minority with NDP support. Even Vegas bookies will not bet against those odds.

#259 I'm A Believer on 10.06.17 at 12:42 pm

@ screwed, you’re wasting time bitching. Get on with it. There’s great opportunities for your generation. Follow disruptive businesses; Amazon, Google, Facebook, Tesla, etc. You will see in your lifetime new sectors through technology, jobs that haven’t been created or thought of yet. Apps will replace info transfer jobs like realtors, lawyers, even insurance companies. No need, people won’t own cars soon. So look up, eyes open. Get ready for your new exciting world.

#260 Ponzius Pilatus on 10.06.17 at 12:44 pm

#245 jess on 10.06.17 at 11:17 am
2,865 Britons took German citizenship last year – a 360% increase from 2015
https://www.theguardian.com/world/2017/jun/13/germany-reports-rise-in-britons-taking-citizenship
————-
And Aston Martins are now build by BMW.

#261 Stone on 10.06.17 at 12:53 pm

#197 Dharma Bum on 10.06.17 at 6:36 am
” ‘That supports our call for a 2% or so growth pace for the third quarter, and for the Bank of Canada’s ‘monitoring’ of the economy to translate into a pause in interest rate hikes.’ ”
——————————————————————–

Is that thunder I hear?

Oh…sorry…it’s the sound of millions of Canadian debt pigs applauding.

Pity the fools.

—-

Don’t disagree with you Dharma Bum. What the sheeple don’t understand though is that if the rest of the world raise rates, insignificant Canada and its central bank won’t be able to counter. Even if the BoC holds of until December and does nothing in October, they won’t have a choice but to go with the flow eventually. Personally, I think An October hike might still be coming for the BoC. Might be optimistic of me but I still think they need to do it. And then the applause will stop as the masses realize their mistake.

#262 Reality 1 on 10.06.17 at 1:04 pm

to # 170 Conan

You are talking through your hat.

You are truly ignorant of the economic dynamic now afoot in Canada’s oil / gas / pipeline business – the 3rd largest component of our export GDP.

Frank McKenna ( the Vice Chairman of TD Bank and former premier of New Brunswick) laid it all out on BNN yesterday.

I suggest you educate yourself by watching that interview. Seldom have I heard such true and disparaging comments from a man in his position.

What is killing the domestic oil industry is a lack of CONFIDENCE in the CONSTANCY of the regulatory framework.

TransCanada spent $ 1 Billion to meet all the regulations required for their Energy East pipeline, only to be told by the NEB that they would be facing a NEW additional regulatory burden that was yet to be formalized but that was extraordinary and would evolve – in other words open ended.

The board, responsibly, had to cancel the project in view of the regulatory risks, NOT the economics.

Truedope has influenced the NEB in this decision despite that the NEB is supposed to be an apolitical body that reviews projects objectively under EXISTING regulatory framework.

I urge all readers to watch that entire interview to see the harm that Truedope’s government has done to this country – over $ 30 Billion per year.

To all you Trump haters out there, your homeboy Truedope has just handed him a MAJOR, MAJOR victory.

While Trump is about to kill us on trade, your buddy Truedope has ensured a supply of DISCOUNTED oil to the USA, who then move, process and EXPORT it ( 7 million barrels a day last month) to the world – capturing a huge margin for Americans.

In the process, he has locked up all oil and gas in Western Canada to receive a MAJOR discount to world prices on all hydrocarbons produced !

Then Truedope does not enforce FEDERAL LAW to ensure the Kinder Morgan pipeline is not tied up in ridiculous challenges for years, if not forever.

Disclaimer – I don’t live in Alberta or work in the o&g business.

Those royalty payments, taxes, jobs would pay for a sh*t ton of social problems.

Open you eyes buddy – that oil will now be used in jurisdictions where Canad has no environmental oversight.

I cannot believe the ignorance and lack of critical thinking comments such as yours illustrate.

How the hell do you get out of bed in the morning (presuming you have a job) without hurting yourself?

Ah, what’s the point – your type is hell bent on destroying your future.

Have at it.

#263 IHCTD9 on 10.06.17 at 1:05 pm

#249 Mike in Toronto on 10.06.17 at 11:38 am

I would strongly support Garth as Federal PC leader.
___________________________________________

I would too, but no chance he’d get in with our current crop of voters. Canadians don’t care about responsible financial government. I’d almost say our National financial condition doesn’t even make the list of concerns at all for most voting Canadians.

#264 Reality 1 on 10.06.17 at 1:10 pm

to # 249 Mike in Toronto

Here, Here !!!

I second the motion.

Now we just need the rest of the sentient Canadians to get behind Mr. Turner.

#265 JustMe on 10.06.17 at 1:11 pm

#135 OttawaMike

let’s go back to discussing Scandinavia.
Happiest people on Earth. Highest life satisfaction indexes in poll after poll.
____________________________________________________

Denmark deploys armed troops to help police

Danish armed forces have been deployed to the streets of the capital to guard potential terrorist targets, as well as the German border, to aid police with their duties. It is the first use of troops in Copenhagen since WWII.

https://www.rt.com/news/405128-denmark-armed-soldiers-police/

#266 Reality 1 on 10.06.17 at 1:15 pm

to # 239 Dups

Ah, no.

for a very long time – many years, mea culpas and tax cuts to re-encourage substantial foreign investment.

A decade or more if they stop digging the hole today.

Never if there is 3 more years of this economic insanity.

#267 Howard on 10.06.17 at 1:27 pm

#247 conan on 10.06.17 at 11:23 am
RE #225 IHCTD9 on 10.06.17 at 10:03 am

“Only a willfully blind birdbrain would claim government had no role in the outcome of a trans national pipeline.”

For a moment let’s put aside the catastrophic drop in oil prices. What the fandango do you expect the government to do? Are you talking corp welfare?

That is a bit rich. Alberta should have an enormous Provincial energy fund, but they don’t cause …..cause …….Con mismanagement. That fund would have put EE over the top.

————————-

No doubt the oil windfall could have been managed better, although the massive transfers to the (willfully) Have Not provinces ate up a not-insignificant amount of it.

Since you dislike corporate welfare, I presume you agree with me that the federal government should allow the failing Bombardier to rot?

#268 Reality 1 on 10.06.17 at 1:27 pm

to # 231 AB Boxster

A fine dissection of the REALITIES of Truedope’s absolutely unfair and corrupt policies.

Canada has truly hung out the “CLOSED FOR BUSINESS” sign.

Alberta should secede from Canada and join the US or remain independent.

Conan and his ilk will pay for this, but are too enamoured of the leftist propaganda and “sunny ways”.

Hard to feed your kids on the “sunny ways” diet.

#269 JustMe on 10.06.17 at 1:29 pm

#135 OttawaMike

let’s go back to discussing Scandinavia.
Happiest people on Earth. Highest life satisfaction indexes
____________________________________________________

Why Sweden has an improbably severe problem with hand grenades

https://qz.com/886244/open-borders-and-vintage-balkan-hand-grenades-are-being-blamed-for-a-crime-wave-in-sweden/

Ban on rocket fireworks proposed in Sweden after New Year’s chaos

A ban on the sale of rocket style fireworks have been proposed in Sweden following instances of rockets being shot at the police, trains and public around New Year’s Eve.

https://www.thelocal.se/20170105/ban-on-rocket-fireworks-proposed-in-sweden-after-new-years-chaos

#270 Albertoil on 10.06.17 at 1:34 pm

#260 Reality 1

While not arguing with the regulatory requirement issue, at the current oil prices and the available large amount of more cheaply produced oil around the world and in the US is a major problem for Alberta’s oil.

I wonder how much TD money/potential loss or profit is/was riding on the failed project?

#271 Jag Disqualified on 10.06.17 at 1:37 pm

The Jag man just disqualified himself.
Unfit to serve our country.

As Trump wouldn’t condemn KKK, Jagmeet refuses to directly condemn bomber.

NEXT!

http://www.huffingtonpost.ca/james-di-fiore/jagmeet-singh-needs-to-denounce-any-glorification-of-bombing-mastermind_a_23234749/

#272 Howard on 10.06.17 at 1:38 pm

#216 milleniallmoose on 10.06.17 at 9:23 am
I blame the PC party. They always pick someone deplorable (Look at Kevin O’Leary trying to be Trump 2.0) and give themselves a bad rap. They need to be progressive and appeal to the millennials but they won’t. Most in my generation see them as outdated old racists and sexists who favor the wealthy and will not vote for them (except for small groups of young people who are sick of SJWs or are very religious)! They need to really re-vamp the party if they ever want to stand a chance.

———————————-

Most idiotic comment in this thread.

You vote Liberal because you liked Justin’s hair, didn’t you?

You need to learn the difference between liberal and progressive. Many conservatives are indeed liberal in the classical sense. But they sure as hell should be progressive, that cancerous totalitarian ideology.

Watch : https://www.youtube.com/watch?v=zH0mPfR-K2U

#273 Howard on 10.06.17 at 1:39 pm

Er…sure as hell should NOT be progressive, I meant to type

#274 Howard on 10.06.17 at 1:41 pm

Regressive Left has become the Religious Right

https://www.youtube.com/watch?v=2NYCJLSE7xE

#275 NoName on 10.06.17 at 1:43 pm

People of Canada be very liry of religousli devoted people that preach divercity. It reminds me of people preaching same, while they were putting in motion balconization of Yougoslavia.

Not that miss much Yugo, just saying…

#276 JustMe on 10.06.17 at 1:46 pm

(UK) Retirement age ‘must be raised to 70’

http://www.dailymail.co.uk/news/article-103952/Retirement-age-raised-70.html

Germans Prepare to Increase Retirement Age. That’s Coming To The United States, Too.

Germany’s central bank, known as the Bundesbank, is putting its foot down, demanding that Berlin consider a proposal to raise the retirement age in the country to 69 years old.

http://www.dailywire.com/news/8394/germans-prepare-increase-retirement-age-thats-michael-qazvini

Raise the retirement age, Canada’s growth council suggests

https://www.thestar.com/business/2017/02/06/growth-council-suggest-spending-to-upgrade-skills-for-job-market.html

#277 Reality 1 on 10.06.17 at 1:46 pm

Has anyone ever thought that maybe the Conservatives have “taken a dive” and thrown the past Ontario and Federal elections ?

Look at the campaign performances of Sheer / Ambrose / Hudak.

Either that or they really don’t know how to play the game.

Promise, promise and promise some more utopian bullsh*t to get elected, then implement your true agenda.

I mean it worked pretty well for the NDP in Alberta and BC and by the Lieberals (no typo) nationally, didn’t it ?

Would not put it past the political scum in Canada.

George Soros would be so proud.

#278 IHCTD9 on 10.06.17 at 1:47 pm

#260 Reality 1 on 10.06.17 at 1:04 pm

What is killing the domestic oil industry is a lack of CONFIDENCE in the CONSTANCY of the regulatory framework.
_________________________________

That’s what killed the ring of Fire “development” in Northern Ontario as well. A decade worth of bickering between the government, Natives, and Investors chased everyone away except one. The last stakeholder has probably finally pulled the plug by now also.

If one disgruntled activist steps up, the Government slams on the brakes, and everyone waits another 2-3 years. There are 10’s of Billions worth of resources at that site, work for decades – where it’s really needed too. The government should be expediting the hell out of this project. But instead they order hearing after hearing, study after study, let’s spend 100 million to see if we’re damaging the northern dung beetle population. The entire nickel ore market flipped over while these poor schmucks sat there listening to one objection after another. Now the stuff is worth 5.6X less than it was when negotiations started a decade ago, and they STILL haven’t extracted a single pound of the stuff.

No wonder investment has lost faith in Canadian Politicians, anyone who made a bet on the ROF lost 10 years worth of growth that would have sprouted results elsewhere.

Elsewhere is where the money is going to end up from here on in. The ROF is a big joke in my industry, we all laugh about when we might see some projects resulting from it’s commencement (if we don’t hit retirement age first).

I just can’t understand how Canadians, of which I was once proud to stand and be counted among; have become so stupid, so fast. Canadians used to have brainpower, responsibility, and were street smart. Now we’ve got more Granite in Ottawa than in the Canadian Shield and half the country won’t be happy until the other half doesn’t have a pot to piss in.

Canada is a colossal joke in heavy industry circles, you’ll see the proof in the big Generals that used to employ thousands of Canadians to build infrastructure for Canadian projects – that are now just engineering offices with a couple hundred employees working on infrastructure for foreign countries.

#279 Stan Brooks on 10.06.17 at 1:48 pm

Not good.

We have absolutely no influence whatsoever in US any more.

https://ca.finance.yahoo.com/news/newsalert-cseries-hit-another-u-170726338.html

#280 Howard on 10.06.17 at 1:52 pm

#77 Reality 1 on 10.05.17 at 8:35 pm
ALERT

MUST SEE FOR ALL CANADIANS

Must see interview on BNN today with Frank McKenna (Vice Chairman of TD bank and former provincial premier). A very credible guy very much” in the know”.

He talks about (with obvious disdain) what this Energy East cancellation does to Canada, its oil industry and export revenues.

Listen to every word and see who Trudope is really working for.

Hint: It ain’t Canadians.

——————————–

Watched the McKenna segment. A good listen, for sure. He talks about a breakdown of federalism, which it is, and alluded to Quebec’s agenda.

Here’s the link : http://www.bnn.ca/is-this-what-we-want-ex-nb-premier-on-energy-east-termination-1.876368

#281 Stan Brooks on 10.06.17 at 1:54 pm

This costs each one of us at least 1000 CAD per year.

http://www.bnn.ca/is-this-what-we-want-ex-nb-premier-on-energy-east-termination-1.876368

It seems T2 wants to export discounted Canadian oil to US through Keystone pipeline while the east provinces buy expensive oil on international markets.

It costs us 30 billions per year.
And no, it does not stop global warming as we will keep producing it for US.

But the idiots go after the small Business for 1 % of these money.

#282 John of Grant on 10.06.17 at 2:00 pm

#98 PastThePeak
…Are they going to vote a 40% tax on the house they will inherit?
——————————————–
tax doesn’t include primary residence, at least, as promised.

#283 Lost....but not leased on 10.06.17 at 2:02 pm

Re: Fidel Castro

One has to laugh at those who feel he was nothing more than planned boogeyman and planted opposition, in a country less than 100 miles from the USA, when the US had no problem taking out Saddam or Qaddafi.

#284 Incompetency on 10.06.17 at 2:02 pm

It is absolutely astonishing that in Canada no economically competent people are able to create an electable political platform, organization.

And the reason is not the lack of finding a voter-sexy “frontman”. Keep suggesting it is bigger distraction than weed.

#285 Penny Henny on 10.06.17 at 2:04 pm

#250 Doug in London on 10.06.17 at 12:11 pm
Personally I wasn’t inspired at all by their candidate Tim Hudak, found him to be a whiner and didn’t believe his “promise” of those 100,000

///////////////////////////

his platform was to cut 100,000 public sector employees, I think your memory got it backwards

#286 Mike in Edmonton on 10.06.17 at 2:04 pm

#260 Reality 1 on 10.06.17 at 1:04 pm

*****************
Slow clap! Well said.

It blows my mind re: many of the comments I’ve read in the past 24hrs about people happy the Energy East pipeline is dead. Most along the lines of “Oil is dead! By the time it’s done, we won’t need oil any more! An environmental victory!”

It just strongly reminded me there are so many truly very very stupid people in this country that have drank way too much climate change koolaid. And just for the record I’m 10000% for green tech, but there is going to be a demand for oil long after I’m dead (I’m 35).

Also, for anyone here that’s happy the pipeline is kaput, can you please name me 5… no, how about only 3 major green energy projects either the Feds or Alberta NDP have announced (not even started to build, just announced) plans for? 2 yrs in power for both and the only one I can recall is a 100MW solar farm (that’s about enough energy to power 36,000 homes, or 2.5% of Alberta’s population. Whoppity do!

If you’re going to destroy the oil industry, at least provide an alternative.

#287 Dups on 10.06.17 at 2:09 pm

Is it safe to say that any gain in public sector jobs should be considered as actually a loss instead with (-) to the total gain in jobs or economy since they get paid with taxpayer money?

#288 Victor V on 10.06.17 at 2:18 pm

http://www.bnn.ca/tfsa-bump-could-help-offset-tax-changes-investment-association-1.877363

The head of the Investment Industry Association of Canada is recommending the government consider raising the annual contribution limit for tax-free savings accounts to help offset the impact of the proposed tax changes.

Ian Russell, president and CEO of the IIAC penned a letter Friday outlining the background and potential ripple effects of the proposed changes for taxing private corporations, with particular focus on the feds’ plan to target passive income.

He highlighted TFSAs as one possible area to make up ground.

Russell proposed an increase in the annual TFSA contribution limit from $5,500 to $7,500, noting “a modest increase in the allowable limit would still leave these savings vehicles within reach of middle income Canadians.”

#289 Dolce Vita on 10.06.17 at 2:25 pm

0% GDP in July.

+10,000 jobs in Sept. with -15.5 K Private and +26.2 Public.

ON +35,000 with AB (7,800 jobs), PQ (7,600) and BC (6,700).

August exports negative, 3rd straight month declining, 11% down from peak 3 mo. ago.

Probably lacklustre Aug., Sept. GDP if Sept. Jobs an indication.

Just a few data points, but it does give a person pause after a stellar first 6 months.

Hopefully not a last gasp before an economic storm comes.

From what I read here, Cdns. will be caught with their pants down if that storm comes.

#290 John of Grant on 10.06.17 at 2:26 pm

#130 Screwed Canadian Millenial
…I would remind you that the CAD/USD is still UP under Trudeau.
——————————-
up for now, prolly down by Christmas. Averaging 1.32 under T2, was 1.08 under Harper.
DXY followed pretty much the same path since early ’06. In other words, nothing to do with the leadership in Ottawa.

#291 TnT on 10.06.17 at 2:33 pm

#244 Millmech on 10.06.17 at 11:14 am

Like I said @ #95 – Warren invests in HCG to stop the financial meltdown in exchange for T2 to scrap pipeline.

PLUS there’s more!

Laurentian Consensus is at play here.

Old money back in business, squeezing the influential life out of the Western provinces by any means.

I admit, it’s a little conspiratorial but the rise and fall of the New Conservative Party (aka Reform Party) correlates to the Boom / Bust of Oil prices.

No Oil Dollars = No money = No influence.

The Laurentian Consensus = The political, media and business elites of Toronto, Ottawa and Montreal that ran this country for almost its entire history.

https://www.amazon.ca/Big-Shift-Canadian-Politics-Business/dp/1443416452/ref=sr_1_1?ie=UTF8&qid=1507314119&sr=8-1&keywords=the+big+shift

#292 SimplyPut7 on 10.06.17 at 2:34 pm

US hikes tariff on Bombardier to 300% from 220%

http://www.cbc.ca/news/business/bombardier-cseries-boeing-1.4343262

#293 Lost....but not leased on 10.06.17 at 2:54 pm

” Petro states are not like other states…..Oil revenues are a catalyst for the chronic tendency of the state to become overextended,over centralized and captured by special interests”.

—–Terry Karl

====================================

Re Proposed pipelines..
One wonders why they don’t refine the bitumen in Canada…???

Seems like Alberta is happy selling this thick junk at almost any price simply for cash flow?..like selling raw logs? The Tar Sands are dead….unless of course new terms of economic engagement are drafted and signed.

Since the US dollar was delinked from gold and the petrodollar created, the Saudis seem to be in charge.

Through various economic cycles, we see these oil “booms” created in various locales , euphoria by gov’ts and their citizens , and technologies like frakking used to extract hydrocarbons…then the market collapses, often with Saudis manipulating the market by undercutting the competition as they see fit….aka the Saudis are the equivalent of the global bank BIS.

BC went through this with the coal megaprojects of the 1980’s..whereby they signed export deal with the Japanese, while the Japanese signed other coal deals globally…which created a glut and the Japanese able to grind the suppliers.

The cancellation of the Energy East pipeline made one perhaps pay more attention…but a lot of these types of mega projects appear to be nothing but pipedreams that were meant to fail when rubber hit the road.

BC pipeline is no better.

#294 Lost....but not leased on 10.06.17 at 2:59 pm

Re Comment 281 and Castro….

Meant to state Fidel Castro was a plant, a boogeyman..nothing more.

#295 WUL on 10.06.17 at 3:01 pm

There is hope for this fair country. Yesterday the long standing division between East and West was accentuated by the demise of the Energy East pipeline. Sadly, Wall, Brian Jean and the Reformers politicized the event to attempt to lay blame at the feet of Trudeau. It was due to poor economics in the main. Look up how many shippers had entered long term take or pay agreements for capacity on the pipeline.

Anyhow, we’ll be unified as a happy family and the choirs of angels will once again sing in the Dominion next summer when the Leafs and Oilers battle for Lord Stanley’s Mug.

#296 Howard on 10.06.17 at 3:06 pm

#104 crowdedelevatorfartz on 10.05.17 at 9:10 pm
Breaking News

Site C dam cost to go up another $615 MILLION dollars raising the cost to over $9 Billion because the “river diversion” has to be pushed back another year.

Nothing like an open chequebook for the Christy Clark Liberal Lobbyist donators………….

—————————–

And the Site C dam is a bigger environmental disaster than 100 oil pipelines combined.

I thought the NDP were going to kill the dam?

#297 Overheardyou on 10.06.17 at 3:11 pm

#13 kommykim on 10.05.17 at 6:32 pm
I doubt conservatives have to worry about an NDP election win. So it doesn’t really matter what Jag dreams about.

That’s what people said about Brexit and Trump. They world is changing and the whiners are winning

#298 TnT on 10.06.17 at 3:14 pm

Jagmeet Singh & Justin Trudeau

VS

Jordan B Peterson & Camille Paglia

Truth to Power

https://www.realclearpolitics.com/video/2017/10/05/camile_paglia_vs_identity_politics_return_to_authentic_1960s_vision_where_consciousness_transcends_divisions_of_gender_race_ethnicity.html

We are domed if the voice of reason is not returned.

#299 jess on 10.06.17 at 3:15 pm

#277 Stan Brooks on 10.06.17 at 1:48 pm

“buffalo hunting”
https://www.goodjobsfirst.org/news/amazons-hq2-and-rise-big-ticket-megadeals
Since 2000, Amazon has received more than $1 billion in local and state subsidies, according to Good Jobs First. LeRoy argues that this has helped the tech giant execute on its pursuit of market share dominance, in lieu of short-term profits.

==========

“In the depths of the Great Depression, a young Chicago industrial real estate salesman named Leonard Yaseen grew impatient with his father-in-law and boss, Felix Fantus….

http://www.goodjobsfirst.org/sites/default/files/docs/pdfs/GAJS_Chapter3.pdf
Fantus and the Birth of State-Sponsored Subsidies

Fantus and Yaseen were pioneers in the science of business relocation, and one of their clients helped create the first state-sponsored economic development subsidy to benefit individual companies.

=
Startup Density (1977–2016)
The Kauffman Foundation, for example, in its long-term analysis of “Startup Density” (the share of startup firms with at least one employee), also shows a decline since 2006. It concludes that “when compared to the levels in the 1980s, 1990s, and early 2000s, Startup Density is in a long-term decline.”

#300 Doug in London on 10.06.17 at 3:46 pm

@Penny Henny, post #283:
Yes, he did say he would cut a lot of public sector employees, that number of 100,000 may be correct. He did also promise 100,000 new jobs. If I am wrong about that figure, it’s probably because he promised even more than 100,000. In any event, he lost the election and lately the Ontario economy has recently created a lot of jobs. Would he have done better as premier? Don’t count on it.

#301 Overheardyou on 10.06.17 at 4:14 pm

#100 Reality 1 on 10.05.17 at 9:04 pm
to # 70 Screwed Canadian Millennial

No troll, it took a bunch of your short sighted ilk in your collective idiocy to vote for the dope and Truedope to seriously f*ck up your future prospects.

Economic reality will eat you fools alive.

Think you are disgruntled now – you ain’t seen nothing yet.

Reap what you sowed.

If you ever make a meaningful income, you will come to understand your error in the fullness of time.

Then again, your willful blindness and your closed and bitter mind will still be blaming someone else. It is all you know how to do.

Enjoy your self imposed torture.

Sad thing is not all Millennials feel they are screwed like him. The ones who work hard and try to build wealth for their future now have to deal with many like him who are lazy, whiny, and doesn’t understand reality but get associated with others like him. Bet you he’s already got his Christmas wishlist

#302 Kumquat on 10.06.17 at 4:22 pm

Justin Trudeau will be decimated in the 2019 election. JS the Turbanator will terminate him for good.

#303 Manitoba Whale? on 10.06.17 at 4:41 pm

If Alberta and Saskatchewan cecede from Canada I hope Manitoba will throw their hat in as well.

Otherwise I will have to change my name.

#304 Willy H on 10.06.17 at 4:50 pm

“Third, the Energy East pipeline is dead. Kaput. Murdered by regulation, strangled by red tape and savaged by greenies plus the province of Quebec.”
___ ___ ___

Not sure that regulation and environmentalism should take the hit for this decision. The bottom line is that EEast is not presently economically viable with oil hovering in the $50/barrel zone. Especially very dirty oil (Western Canadian Select) that trades at 70% less than West Texas Intermediate.
___ ___ ___

Correction:

WCS trades around 30% less that WTI.

#305 Dolce Vita on 10.06.17 at 5:00 pm

Goes a long way explaining what is correcting YVR higher end Detached RE and a good read about tax evasion (link on the latter in artcle – probably why CRA very active there as of late):

http://vancouversun.com/opinion/columnists/douglas-todd-is-china-popping-vancouvers-housing-bubble

Worth a read with quotes like this:

“Real Estate Association of Greater Vancouver figures show the median price of a detached home is down more than $500,000 since February, to $1.7 million.”

#306 crowdedelevatorfartz on 10.06.17 at 5:01 pm

@#294 Howard
” thought the NDP were going to kill the dam?”
+++++++

Like most politicians missing their spines…..
They just keep talking about it

#307 Unhappy American on 10.06.17 at 5:05 pm

Why not mention why exports are tanking. Is it cause of Trump and his protectionism?

#308 Rich man on 10.06.17 at 5:11 pm

Bombardier for rocked hard again today more duties lol

I LOVE it!!!

Canada is so weak and small

#309 Lost...but not leased on 10.06.17 at 5:19 pm

Re: Roman Empire…

My understanding re: the “success” of the Roman Empire was its strategy on not necessarily conquering the given territories, but in fact allowing the given territories to carry on business as usual re: their cultures, religions etc., as long as the paid homage to the Emperor and realized them as the supreme being.

So, for arguments sake…lets call the aforementioned the predecessor to “multi-culturalism”…aka temporary peace was negotiated. ..but the empire did collapse, as perhaps the Roman governance became weak and challenged and ultimately dissolved?

Is this not what the model modern nations have adopted and facilitated yet within their own (post Roman Empire ???) national and cultural borders…..allowing multiculturalism and the mantra of “diversity”…and the same result history has taught us..does it end well ?

#310 Doghouse Dweller on 10.06.17 at 5:29 pm

Garth? economy limp NAFTA nearly Kaput. 300% duties on T2`s BFF Laurentian elites . So whats an all out trade war with Trump`s new chapter of American greatness look like?
Do we end up buying Migs from Vlad with the Canadian hryvnia ?

#311 Lost...but not leased on 10.06.17 at 5:47 pm

#302 Dolce Vita

Re; China crashing the housing bubble…

The image being portrayed globally is this Communist (since 1948)country called China has all these millionaires?/billionaires? that don’t trust China and want to park there money elsewhere?

WTF? Huh?

Lets give our heads a shake…isn’t a communist country one that literally complete control of its citizens , all aspects of their lives and lockdown mode..ie how does one get rich let alone move their assets offshore under these condtions?

Simple..review the Stuxnet virus as a model.

Most people think that if there are not tanks and soldiers in the street (sorta like Tiannamen square 1980’s)all is well….when in fact given ” All Wars are Banker Wars”…our sovereignty has been under attack for decades by programmed infiltration by these communist agents as they seduce us with fiscal weapons of mass confusion and dubious origins.

In other words, are these wealthy Chinese acting as subversive agents right out of an Ian Fleming novel?

Why worry about Federal Reserve, BoC , BIS etc. etc. when Beijing may be the Dr. Evil villains lair and they have us at their whims and mercy and fingers on the red button?

Review the Great Depression and how Winston Churchill was given a front row seat at power of the hidden hands. Also note many of the greatest fortunes in the US came after the depression,..aka assets purchased at pennies to the dollar.

The way I see it..Beijing could set in motion THE Greatest Depression at any time.

#312 Lost...but not leased on 10.06.17 at 6:07 pm

I think we need a Joint Venture between Alberta and Quebec…whereby Bombardier products could be smuggled into USA via the Bitumen pipeline..

..maybe contact Beijing investors with IPO?

#313 Entrepreneur on 10.06.17 at 6:52 pm

Someone mentioned getting a turban, might get one too but a little more stylish. The colour changing of the turban reminds me of the mood ring (found one the other day).

Here we go again, Liberal then Conservatives, bully pals back and forth. Oh, the world is tanking, well, I think I will keep on voting Liberal/Conservative, lol. Think outside-the-box and vote those two parties out.

There are three major parties that rule (most people vote for) but to remove the bully pals vote NDP. People will vote for the Green party, that is a given (Andrew Weaver, BC Green leader, keeps the NDP in check).

Wow, that is scary #211 jess on this BIS and shareholders, an international organization, with benefits like no taxes, immunity and lots of loot.

Still trying to figure out the third anti-Christ, Mabus. Nostradamus probably used ESP, hard but possible. Right now I am torn between the banks/bis or Macau/gambling.

#314 Robert White on 10.06.17 at 8:44 pm

‘Trudeau is another Harper. Leaders are leaders.’

Harper & the CONS were completely illegitimate fraudsters with respect to running roughshod over
the Federal Progressive Conservative Party Constitutional requirement to hold an internal vote for amalgamation. David Orchard was correct to take the matter to court but the presiding judge botched the whole process, and his case was tossed rendering a coup on the Progressive Conservative Party files & offices. Harper & MacKay swindled David Orchard & Joe Clark on the internal vote process in a rigged process to take over the helm of the PC Party before they quickly changed the constitution & name for the new party. In contradistinction, Trudeau is a legitimate Prime Minister of CANADA that did not sell his base down the river like Harper & MacKay publically did. Trudeau outperforms Harper with respect to understanding his voter base and their concomitant sociopolitical needs. Trudeau happens to be governing the center of politics in CANADA whereas Harper and the CONS merely ran roughshod over the rights paradigm. Trudeau gets credit for being somewhat Marxist in approach to taxing corporations and the wealthy rentier wealth transfer class. I, for one, do not share the view that Trudeau could be compared to that lowlife sellout wannabe politician Steven Harper.

Trudeau is a centrist politician with vision for CANADA.
I get Trudeau’s politics whereas Harper was just a two bit hustler with respect to governance and electioneering fraud. Harper’s cabinet members went to jail for fraud on elections. Fraud was common for Harper & the CONS.

RW – Progressive Conservative

#315 Lost...but not leased on 10.06.17 at 10:09 pm

#314 Robert White

@ Jonestown..right..?

Just(in) after the punch ran out..

#316 Robert White on 10.06.17 at 10:26 pm

#315 Lost…but not leased

‘ @ Jonestown..right..? ‘

If one lives in the town that fun forgot long enough it begins to appear as though it’s ‘ Jonestown ‘ after drinking the various flavours of Kool-Aid disseminated over time. I have not taken the red pill or the blue pill.
With advanced formal education in Pharmacology it is doubtful that I would.

The punch bowl is for special occasions and must go back to the kitchen periodically to be cleaned.

RW