The binge

More updates. Yikes.

CryptoSuckers
This week the failed, crashed, moribund and prehistoric picture company, Kodak, got into the cryptocurrency business. The announcement of its ‘Kodakcoin’ was enough to wet moister shorts and double the value of K’s flaccid stock. Yes, more evidence there’s a new fool born every minute as this analog company joined others making sports bras and iced tea who have jumped into blockchain and created millions in equities in minutes.

Suddenly even Ripple looks old. Bitcoin? That’s like, so 2016 or something. Bore. Ring.

In case you missed it, Bitcoin has lost 35% of its value in the last couple of months, and those people who mortgaged their condos to buy it near the $20,000 mark are now too ashamed to talk about it. They were hosed, reamed and had. This pathetic paleo blog told you pre-holiday not to buy Bitcoin. Now you know why. Risk in extremis. Just another speculative bubble.

The latest whack comes from South Korea, where Bitcoin mania struck bigtime late in 2017. The country’s on the verge of wisely banning crypto exchanges after SK become host to some of the most active trading in the world. Digital currency fever swept the streets and Koreans became, per capita, the biggest Bitcoiners on the planet.

As Warren Buffet becomes the latest crusty billionaire to warn that this will all end in tears, count on governments, politicians and central banks to increasingly reign in what has the potential to steal billions from hapless, idiot investors. Is blockchain technology cool? Of course. Will unregulated digital currencies replace fiat month issued by and backed by governments? Not in this lifetime.

Get used to it. Sell now. If you can. The exits will soon clog.

In Dow We Trust
The main US stock index set 70 net record highs in 2017. Unbelievable. It advanced 5,000 points in 12 months for a gain of 25%. The last thousand-point sprint was unprecedented in investment history. Now, over the eight trading days of 2018, it has jumped 3.5%. Yeah, another record high.

Ditto the S&P 500, which is a broader and more reliable index. The advance in the last 12 months has been 24%, and the gain so far in 2018 is also 3.5%. Both US markets have trounced Bay Street, where the gain so far this year is a lousy half-percentage point, despite oil pumping higher.

Is this scary, or more to come? By historic measures – the profits companies make compared to the price their stocks command – markets are overvalued in the order or 15% or 20%. That means a correction could eat that much in short order. Investors who don’t have balanced portfolios, with a fixed-income component (a variety of stocks and preferreds) to reduce the volatility, could be taken for quite a ride. But probably a short one. There’s just too much upward momentum right now to go running away from equities.

North America has turned into a jobs machine. Corporate earnings are sustained and robust. Global growth is surging towards the 4% mark and taking commodities with it. Rocket Man wants to go to the Olympics instead of nuking LA. Trump is actually surviving ‘Fire and Fury.’ And investors are pricing in a lot more gains because of the American corporate tax slash. Said one Wall Streeter on Thursday: “What’s been driving the markets is that equities and investors have continued to price in the potential gains from tax reform… There’s still room for earnings forecasts to move upward.”

In short, don’t be afraid to invest. But do it correctly, in the full expectation there’ll be 10% or 15% corrections lasting weeks or months. That takes balance. And diversification. Buying individual stocks is a far bigger gamble than buying the whole market with an ETF. That’s especially true for the weed sector. If you’ve ridden this thing up, it’s time to get off. Like Bitcoin, there’s a huge speculative element here.

Be neither fearful nor greedy.

Human nature leads people to hang onto rising assets, convinced they’ll rise further. Maybe forever. Instead of systematically reducing exposure as prices rise – by selling off positions and harvesting the gain – they cling to the whole wad and risk seeing precipitous declines.

Conversely, investors bail out of falling assets, convinced they’ll go to zero. But selling into a declining market usually means realizing unnecessary losses – since history shows the dips are temporary. The correct strategy: acquire when things are cheap and people freaking. Bail when stuff goes up, and rebalance – spending the profits on the losers.

Two rules: Never confuse gambling with investing, nor seek advice from some pathetic blog.

270 comments ↓

#1 Lost...but not leased on 01.11.18 at 6:07 pm

Phhyyyrrrrzzt..
.and psttt….. do I have a pre sale for you !

#2 Theo on 01.11.18 at 6:08 pm

North America has turned into a jobs machine. Corporate earnings are sustained and robust. Global growth is surging towards the 4% mark and taking commodities with it. Rocket Man wants to go to the Olympics instead of nuking LA. Trump is actually surviving ‘Fire and Fury.’ And investors are pricing in a lot more gains because of the American corporate tax slash. Said one Wall Streeter on Thursday: “What’s been driving the markets is that equities and investors have continued to price in the potential gains from tax reform… There’s still room for earnings forecasts to move upward.”

I assume you meant “bonds and preferreds”

typo?

#3 Screwed Canadian Millenial on 01.11.18 at 6:15 pm

Lol it’s not millennials buying Kodak gimme a break. It’s Wall Street, algos and traders trying to make a quick buck.

Alberta’s minimum wage hike working despite gloomy predictions
https://www.thestar.com/opinion/star-columnists/2018/01/09/albertas-minimum-wage-hike-working-despite-gloomy-predictions.html

Isn’t it amazing how every time the minimum wage gets raised, there are all these predictions of doom and gloom. Yet they never come to pass. There’s never the mass job losses that conservatives and corporatists promise.

I guess that’s the problem with conservatives. They think their feelings are more important than the facts.

#4 For those about to flop... on 01.11.18 at 6:15 pm

Pink Snow falling in Coquitlam.

These guys bought at the peak,waited the obligatory one year and slapped it back the market.

They look certain to lose on this deal, if only after expenses.

That has to leave a bad taste in their mouths.

Probably should have bought Colgate…

M43BC

Paid 1.36 in May 2016
Ass 1.41 2016
Originally asking 1.49 then 1.45 then 1.39 then 1.37

1214 CREST CRT, COQUITLAM .

May 25:$1,498,888
Jul 4: $1,459,888

Change: – 39000.00 -3%

https://www.zolo.ca/coquitlam-real-estate/1214-crest-court

https://evaluebc.bcassessment.ca/Property.aspx?_oa=QTAwMDAzWE5NMQ==

#5 Jungle on 01.11.18 at 6:17 pm

Crypo coin is just pure gambling.. like the casino at this point.

#6 Rainman on 01.11.18 at 6:19 pm

What’s inherently bad about speculation, other than it being risky? There’s no denying it can be immensely profitable.

If you have a balanced portfolio, then I don’t see any problem investing a fixed percentage into bitcoin or weed stocks on the understanding that it is money you can afford to lose. Low downside, high upside.

#7 Leslie McSnowden on 01.11.18 at 6:20 pm

Another fantastic article from Garth. Second!

#8 Doug t on 01.11.18 at 6:21 pm

Tocoin a phrase – a fool and his money are soon parted

#9 conan on 01.11.18 at 6:25 pm

Trump is actually surviving ‘Fire and Fury. Garth

Is he? Trump is a political Houdini. I think most people have quietly recognized the elephant in the room and the strategy is to not upset this particular proboscidea.

Everyone keep cool, he will start a war if he thinks he is going to be impeached.

November 2018 is not that far away.

#10 Eddie Jones on 01.11.18 at 6:25 pm

@ #6 Rainman

How much are you suggesting? Has it worked out well for you?

#11 For those about to flop... on 01.11.18 at 6:26 pm

Recent Sale Report.

This condo in Trump Tower was flipped a month ago.

6602 1151 w Georgia st,Vancouver

Originally asking 3.32 then 3.15 then 2.99

Just sold for 2.8

2016 Tax assessment 3.32

2017 Tax assessment 3.36

And so, another one that started off asking the current assessment number and ended up well out of whack with the assessment…

M43BC

https://www.zolo.ca/vancouver-real-estate/1151-w-georgia-street/6602

#12 Screwed Canadian Millenial on 01.11.18 at 6:27 pm

Anger brews in Cobourg over Tim Hortons’ response to Ontario minimum wage
https://www.theglobeandmail.com/report-on-business/labour-groups-protest-tim-hortons-response-to-ontario-minimum-wage/article37553813/

>At the Cobourg café, Kevin Bandy said he supported the increased minimum wage as he walked out with a large coffee. “For anybody to make a half-decent living nowadays, people need to make $14 or $15 per hour,” he said, adding that he did not approve of the owners’ response. “I don’t think the owners here are hurting. I would think they have a half-decent lifestyle and to take away from somebody else to improve theirs, well, that just isn’t fair.”

I wish everyone could be this reasonable. But unfortunately the endless corporate propaganda that people are spoonfed nowadays has given certain people absolutely no shame about senseless greed and entitlement to cheap labour. Somehow it’s become perfectly acceptable to believe that millions of WORKING PEOPLE should live in poverty so that a select few can get rich and sit on their a$$ all day.

#13 ImGonnaBeSick on 01.11.18 at 6:28 pm

Alberta had less than 2% of the workforce working at MW when they bumped it up, that’s a stark difference to Ontario. Also, ask anyone from Alberta if it went “well”… Get off the internet and talk to a real person kid.

#14 JOE CALGARY on 01.11.18 at 6:28 pm

Cutest dog ever!! Besides my Pooch.

‘Conversely, investors bail out of falling assets, convinced they’ll go to zero. But selling into a declining market usually mean realizing unnecessary losses – since history shows the dips are temporary. The correct strategy: acquire when things are cheap and people freaking. Bail when stuff goes up, and rebalance – spending the profits on the losers.’

So why would the strategy change with Bitcoin? Wouldn’t selling into negative news be counter to the strategy?

#15 Tim on 01.11.18 at 6:29 pm

How low will the Loonie go next week? I think Poloz spread false news yesterday about Trump completely destroying NAFTA. Trump said that he will go easy on Mexico during election time there.

Poloz and his quest for a 50 cent loonie and negative interest rates. Trump should talk to Poloz one-on-one to discuss Canadian currency values and currency manipulation….

#16 Damifino on 01.11.18 at 6:29 pm

Be neither fearful nor greedy.

Five words to capture the essence of sane investment.

BTW, what the hell is Kodak?

#17 I’m stupid on 01.11.18 at 6:30 pm

Just a reminder that anyone can register to get a $25 Loblaws gift card.

https://loblawcard.ca

Donating it to your local food bank would be nice.

#18 Screwed Canadian Millenial on 01.11.18 at 6:30 pm

By the way, most of the time when I post, it’s from work or home. Why did it trigger you boomers so much when I post from a McDonalds while drinking my McCafe coffee?

#19 Goldie on 01.11.18 at 6:33 pm

The media has already moved on from the “Fire and Fury” attack strategy. The current attack is using quacks to remote diagnose him as being mentally unstable. After that goes for a few days maybe they will move back to the Russian conspiracy theory again. Who can say for sure? All that matters ,to them, is that they attack him every day with negative coverage.

#20 Screwed Canadian Millenial on 01.11.18 at 6:36 pm

#13 ImGonnaBeSick on 01.11.18 at 6:28 pm
See. You’re already making excuses. I was promised doom and gloom and mass job losses when Comrade Notley announced the higher minimum wage just a few years ago.

Alberta hasn’t suffered for raising the minimum wage
https://www.theglobeandmail.com/opinion/alberta-hasnt-suffered-for-raising-the-minimum-wage/article37517324/

Look at these dire predictions.

In 2015, the Canadian Federation of Independent Businesses (CFIB) claimed that the minimum-wage increase would cost the province “between 53,500 and 195,000 jobs.” In other words, the CFIB believed that more than half of the almost 300,000 Alberta workers making less than $15 an hour could lose their jobs.

In September, 2017, the C.D. Howe Institute released a study that claims, “Alberta’s move to increase its minimum wage to $15 an hour by [October] 2018 could lead to the loss of roughly 25,000 jobs.”

And what actually happened:

The problem for critics of minimum-wage increases is that history doesn’t back up their sky-is-falling claims.

In the year preceding November, 2017 (the latest available data), Alberta’s service sector added 12,400 jobs as part of our province’s economic recovery. In 2016, while Alberta’s economy was still in recession, our service sector added 26,500 jobs.

These jobs were created despite Alberta’s minimum wage increasing 33 per cent in 2015-17.

Like I said, conservatives can never admit they’re wrong and think their feelings are more important than the facts.

A few years from now you’ll be saying “of course the Ontario minimum wage hike didn’t lead to job losses and was good for workers”

#21 CL on 01.11.18 at 6:36 pm

Govt’s were always ready to jump in to destroy crypto’s. They’d never lose control of the money supply.

Money coming out of bonds has to go somewhere. And given about 80% of money is now professionally managed, those managers cannot sit in cash unless they are ok with that cash leaving their hands.

I couldn’t believe the DOW today. wow! it seems unbelievable but yet as you say, earnings and the economy are supporting growth, finally. And yes, the good ole’ TSX lags as it usually seems to.

Nobody believes oil will stay here but it will. It was always destined to since Aramco wants to do an IPO. Why would a business ever do an IPO or financing while driving their only revenue source in to the dirt? it was always a no brainer oil would rise. Shale was never a good supply for many reasons and declines are far too large to handle. In addition, with interest rates on the rise, why would anyone put money in to a negative cash flow machine such as a shale player these days? Not going to happen regardless of the pump job in the media. The US will never be energy self sufficient. It’s all temporary, just like life is. :)

#22 TurnerNation on 01.11.18 at 6:37 pm

The science is settled. 250k ought to be enough for any Kanadian each year. Anything higher will be taxed downward to a more reasonable level.
Cry me a river rich guy – you’ve have it easy long enough.

What’s important, that people be given a fair LivingWage; that hard working families be given a fair shake.

*Note that Party Leaders and Elite are exempted from this salary cap.

#23 Eyestrain on 01.11.18 at 6:40 pm

Bombing in S. Korea

While we were busy moaning about man-doos and crap coffee, Hockey Canada announced it is sending an ersatz Men’s Team to the Olympics in S. Korea. No NHL’ers ! Outrageous!

Apparently it’s a money thing too. The hosers claim they took a “poll”, but nobody called me. Is there an Industrialist’s Disease spreading in Canada? Maybe they are all frequenting the same establishment?

I wish the Men’s Team well, but I’m putting my money on the Germans, and will be watching our Women’s Team kick butt. Unless I have to pay for it.

#24 Rainman on 01.11.18 at 6:42 pm

@10 – Ther’s no magic number, but it has to be a low number relative to the rest of your portfolio, otherwise by definition you aren’t balanced.

It depends on your risk tolerance. People generally overestimate what that is, which is why Garth is smart to recommend a 60/40 for the vast majority of people.

Also go in knowing that it really is pure speculation, and you could lose it all in short order. If that makes you wince, it’s not for you. If you can handle that, it’s the perfect example of those “low risk, high upside” bets that people like Ray Dalio and crew always talk about.

#25 Screwed Canadian Millenial on 01.11.18 at 6:44 pm

#13 ImGonnaBeSick on 01.11.18 at 6:28 pm
Alberta had less than 2% of the workforce working at MW when they bumped it up, that’s a stark difference to Ontario.

———-

I get that this is the talking point that all you conservatives have been programmed to repeat but why can’t you understand that this metric applies to only those making EXACTLY the minimum wage. There are a lot of people making 5 or 10 cents more or $1 more than the MW who all get captured by the increase.

#26 Smickers on 01.11.18 at 6:45 pm

Poloz is all over this and is ready to lower rates if necessary to support housing. Canada is real estate and real estate is Canada. This is our time as a country, we can do this thing!

#27 Patrick Littlejohn on 01.11.18 at 6:46 pm

If you think that buying cryptocurrency begins and ends at bitcoin, you are wrong. Bitcoin was the first mover but it is no longer the lynchpin of the sector. The value proposition of bitcoin 5 years ago was ‘help nerds buy drugs on the internet’ and the value proposition today is ‘digital gold in case conventional banking and fiat goes to shit.’ I agree that those are not compelling. However, contrast that with a project like ethereum (trustless contracts) or vechain (decentralized supply chain management supported by Chinese government).

#28 Smoking Man on 01.11.18 at 6:52 pm

#12 Screwed Canadian Millenial on 01.11.18 at 6:27 pm
Anger brews in Cobourg over Tim Hortons’ response to Ontario minimum wage
https://www.theglobeandmail.com/report-on-business/labour-groups-protest-tim-hortons-response-to-ontario-minimum-wage/article37553813/

>At the Cobourg café, Kevin Bandy said he supported the increased minimum wage as he walked out with a large coffee. “For anybody to make a half-decent living nowadays, people need to make $14 or $15 per hour,” he said, adding that he did not approve of the owners’ response. “I don’t think the owners here are hurting. I would think they have a half-decent lifestyle and to take away from somebody else to improve theirs, well, that just isn’t fair.”

I wish everyone could be this reasonable. But unfortunately the endless corporate propaganda that people are spoonfed nowadays has given certain people absolutely no shame about senseless greed and entitlement to cheap labour. Somehow it’s become perfectly acceptable to believe that millions of WORKING PEOPLE should live in poverty so that a select few can get rich and sit on their a$$ all day…..
……

You have clue how people go from nothing to get rich.
It’s called a bet. A wager. It involves risk. With Risk there is an anticipation of profit. its not a dirty word. Workers are a derivative of the bet. Without gamblers your kind would still be living in the stone age.
Nobody holds a gun to a workers head to take a job.

Now there is another way to get rich. Inheritance. Just like wild Bill and T2 got there. But there daddies were gamblers.

Your a paid troll for the Librals. Quite obvious. I hope your billing them good. Your pretty good at this.

#29 Howard on 01.11.18 at 6:53 pm

Where are all the cointards to tell us again that BTC is going to $100K by June and tut-tutting that naysayers just don’t get it?

On the other hand, once the Blockchain ETF is up and running I may buy a bit next year after the crash rubble has subsided.

#30 Candida's Adam Smith on 01.11.18 at 6:55 pm

Isn’t it amazing that every time somebody gets something for free without producing something of value, everybody says somebody loses. We can’t see who loses so why pretend somebody lost? Let’s call it the invisible hand of freedumb. – Another Twisted Millenial

#31 Penny Henny on 01.11.18 at 6:56 pm

#236 James on 01.11.18 at 12:28 pm
#207 Penny Henny on 01.11.18 at 10:12 am

#101 OttawaMike on 01.10.18 at 9:46 pm
A few days ago I posted how my daughter’s employer, Metro planned to hire more full time staff.
Here is why:

https://www.baytoday.ca/local-news/opinion-government-changes-to-employment-standards-act-unbelievable-and-unexplainable-810025
////////////////////////////

wow that is ridiculous
…………………………………………………………..
No not really, Ontarians are too placid. It is ridiculous that here in Ontario we constantly elect such liberal close minded idiots. You get what you pay for people!
/////////////////////

Hey why don’t you, Stan Brooks and SCM all just bugger off. Your whining is absolutely sickening. Don’t like leave! Left already? Then get a life and stay off this blog.

#32 Funky on 01.11.18 at 6:56 pm

and a paleo blog at that, thanks.

#33 Trocxi on 01.11.18 at 6:59 pm

America has turned into a job machine!

Why?

Because of Minimum Wage Increase in Seattle.
So says our Little Red Marxist aka SCM.

This is completely off topic tonight, but he keeps playing this broken record, which OK.
I can use some laugh today, lol

#34 Trojan Houae on 01.11.18 at 7:01 pm

#12 SCM

And you are spoon fed government propaganda. Equally and sometimes more disgusting.

#35 I’m stupid on 01.11.18 at 7:02 pm

#12 SCM

You know that no one needs to work right? If an employee isn’t happy with their wage they have the right to quit. Instead of expecting someone to pay you why don’t you figure out a way to get paid? The problem with you and people like you is that you expect to start at the top and make zero sacrifice. You’ve been spoon fed from birth and taught that you’re special. Well guess what, you were lied to. You’re not special and if you don’t make the necessary sacrifices you’ll remain in the exact situation that you’re in.

I’ve worked minimum wage. I’ve worked 60-70 hour weeks for over 20 years. I sacrificed my youth, missed out on lots of things in life, to climb out of poverty. What have you done except come here and complain? Do you actually believe we should be equal because if you do you’re crazy!

#36 Screwed Canadian Millenial on 01.11.18 at 7:02 pm

#28 Smoking Man on 01.11.18 at 6:52 pm
You have clue how people go from nothing to get rich.

———-

Sure I do. They get a small loan of $1 million from daddy. Then when they go bankrupt 6 times, they run as a pro-business conservative and people like you worship and praise them.

I keep hearing about risk risk risk. Jesus Christ. A Tim Hortons franchise is LOW RISK. Do you people even understand what a franchise is? The whole attraction is that almost everything is done for you and provided for you by the franchisor. The systems, the know-how, the equipment, the food, it’s all provided to you by HQ. So please spare me your risk nonsense. These aren’t titans of industry going out and reinventing the wheel. You have no clue what the whole attraction of being a franchisee is about.

The real risk is trying to get by in this frozen wasteland of a country on $14/hour.

#37 Keith on 01.11.18 at 7:02 pm

Then there’s the Danish solution, unionized McDonald’s workers making over $20 U.S. per hour, while a Big Mac costs 80 cents more. Who else wants that deal? Yes, I know about the taxes … but look at the social programs that put ours to shame. World’s happiest western democracy.

http://www.businessinsider.com/denmark-mcdonalds-pays-20-hourly-wages-2014-10

#38 BobC on 01.11.18 at 7:02 pm

#12 SCM

Give it time kid just give it Time. Your calling people wrong that has seen it all then some.

https://www.washingtonpost.com/news/wonk/wp/2017/06/26/new-study-casts-doubt-on-whether-a-15-minimum-wage-really-helps-workers/?utm_term=.e29af2ee2c7f

#39 Screwed Canadian Millenial on 01.11.18 at 7:05 pm

#33 Trocxi on 01.11.18 at 6:59 pm
Obama created more jobs in 2016 than Trump did in 2017.

Stop embarrassing yourself. America has been a jobs machine for years. https://imgur.com/A0ZaNTS

Trump not all that long ago was calling the job reports fake and that the real unemployment rate was 42%. And all you conservatives believed him too. You just do as you’re told.

https://www.youtube.com/watch?v=Np40ayMJI1Y

#40 calgaryguy on 01.11.18 at 7:12 pm

Binance (one of the biggest exchanges) had to close down registrations last week because they could not handle over 100k new signups per day. Money is flooding in to crypto and we are nowhere even close to the top yet. Bloomberg launching their trading desk this month may alleviate some of this pressure.

The .com bubble was around 7 trillion dollars and was almost entirely USA based. Crypto has way more players, is fully international, in an age where excess money exists and an upcoming generation is terrified of the stock market and they rent (extra $ floating around).

I think you would be crazy to cash out crypto right now. I think diversifying into non-bitcoin/bitcoin forks would be smarter. AWS competitors, DAG coins, fully anonymous currencies are likely the big gainers in 2018.

Bitcoin/Ripple/all bitcoin forks are likely in for a rough year though. Total market cap is not.

#41 T on 01.11.18 at 7:15 pm

#3 Screwed Canadian Millenial on 01.11.18 at 6:15 pm
Lol it’s not millennials buying Kodak gimme a break. It’s Wall Street, algos and traders trying to make a quick buck.

Alberta’s minimum wage hike working despite gloomy predictions
https://www.thestar.com/opinion/star-columnists/2018/01/09/albertas-minimum-wage-hike-working-despite-gloomy-predictions.html

Isn’t it amazing how every time the minimum wage gets raised, there are all these predictions of doom and gloom. Yet they never come to pass. There’s never the mass job losses that conservatives and corporatists promise.

I guess that’s the problem with conservatives. They think their feelings are more important than the facts.

——————

Another funny post! And another reference to an opinion piece as fact! Thanks SCM. I’m glad someone is bringing comedy to the comments section.

#42 Chaddywack on 01.11.18 at 7:16 pm

@11 flop.

Still though they made close to a million…..I get what you’re saying though the assessments are too high.

#43 bigtowne on 01.11.18 at 7:22 pm

Michigan getting another auto plant investment from Fiat moving their Mexican Ram production to Michigan with $1 billion capital infusion. To show their love for American workers Fiat is giving $2,000 bonuses to their 60,000 workers…now that’s love American style.

#44 Yorkville Renter on 01.11.18 at 7:29 pm

Congrats SCM…

you have now joined Mark as “Posts that YR skips”.

take a bow, you earned it!

#45 Bezengy on 01.11.18 at 7:31 pm

I wonder how many of our social justice warriors who made a few bucks on Bitcoin will be declaring their gains to the CRA?

#46 Linda on 01.11.18 at 7:31 pm

‘Be neither fearful nor greedy’ Now Garth, where is the fun in that? Everyone is either fearful or greedy or both:) If they weren’t, no one would ever fall for a scam or invest in dodgy stock offerings that promise huge returns for no risk.

#47 altcoinbeast on 01.11.18 at 7:33 pm

I laugh when people talk about bitcoin and lump the entire asset class into that. I agree, sell bitcoin, it’s archaic. Junk. Something needed to pave the way. There are way more exciting cryptoassets to invest in if you actually dive in and do the research.

If you don’t have time for that, stay way, far away. If you don’t have time to research anything, stick to your couch potato portfolio.

#48 Zapstrap on 01.11.18 at 7:35 pm

Some fellow dawg mentioned a good place for currency exchange in Van a while ago … anybody remember the name?

#49 Skeptic on 01.11.18 at 7:35 pm

For those people who think Bitcoin is blockchain, and is the be all and end all of cryptocurrencies (looking at you Garth), you shouldn’t be investing in the space at all. For those who have researched and understood the impact that blockchain, smart contracts and micro payments will have in the future, keep investing in etherereum, iota and others.

I remember that in the late 90’s, Buffett issued a similar warning about e-commerce companies. I bet he wishes he had invested in Amazon then.

#50 InvestorsFriend on 01.11.18 at 7:35 pm

Money Coming of Bonds? How So?

#21 CL on 01.11.18 at 6:36 pm said:

Govt’s were always ready to jump in to destroy crypto’s. They’d never lose control of the money supply.

Money coming out of bonds has to go somewhere.

*******************************************
Imagine the value of bonds drop 10%.

Joe sells a formerly $100k bond to Frank for $90k.

The market value of all bonds drops by billions.

But how does that release a single penny from bonds? How does money flow out of any asset when sellers sell for less? What ever they sell for has to be put IN by the buyer. NOTHING flows out in the net when people simply trade bonds (or anything else), with each other.

What is possible for one investor (getting his money out of bonds by selling) is impossible for bond holders as a population. They can’t do it by trading with each other.

When asset values rise due to trading, wealth is created from thin air, when they fall wealth is destroyed and disappears into thin air. Think Bit Coin.

#51 Nonplused on 01.11.18 at 7:42 pm

#20 Screwed Canadian Millenial

It’s going to take a little while longer than that for the effects of the minimum wage increase to get sorted out.

When the price of something goes up, whether due to scarcity or government interference, demand drops. This includes labor. But McDonald’s isn’t going to be able to install the automatic burger makers overnight. So in the mean time they’ll just raise prices.

There is one thing everyone needs to understand. Corporations and employers are not going to pay the increased minimum wages. They can’t they don’t have any money. All they have is assets and liabilities. Therefore you will pay for them through increased prices. That’s the only place there is for the money to come from. McDonald’s gets all it’s money at the till. They don’t have a printing press sitting beside the deep fryer.

If it were the fact that the impact would only amount to a $0.10 rise in the price of a burger, all might be well. But it’s going to look more like a 15% rise in the price of everything on the menu. (I’m assuming labor is about 50% of operating costs.)

Add to the fact that there are multiple points where the new carbon taxes apply to the production of everything on the menu, and prices are going much higher than that. A McDonald’s french fry is about 5% potato and 95% carbon energy and labor by cost. Government policies are increasing the cost of both the labor and the energy substantially, so the french fry must go up in price. There is no other way to pay for it.

Some people will say “well I would never eat at McDonald’s anyway it’s gross” and fine. But Starbuck’s is going to have the same problem. The coffee doesn’t heat itself it takes carbon and a minimum wage worker. In fact it is going to be the “mom and pop” operations that suffer the most, because they can’t afford to automate. McDonald’s can afford to install touch screens and now they have an app where you can order and pay on your phone. Goodbye cashiers. However the local pizza shop can do no such thing. At least not yet, maybe some internet solution will arise that these organizations can afford. But if it does, less jobs again.

Here’s the thing, if minimum wages worked, “Why not $30?”

And here is another thing. Minimum wages and carbon taxes affect the poor much more so than the rich. You won’t see daddy Warbucks going through the drive through in his limo. The people cooking his food are not on minimum wage. It’s the folks who don’t have a lot of money that are going to be spending a lot more to pay the new minimum wages and carbon taxes being baked into the price at McDonald’s.

The minimum wage laws and the carbon taxes are both sinister evil plots by the devil herself to tax the poor more. Think about it for a minute. How much gasoline do you think goes into Lamborghinis on an average day vs. the amount that goes into Honda Civics? Think about that for a while and you’ll figure out who’s paying the carbon tax, by and large. Worse still, let’s compare Lamborghinis to the city bus fleet, where the lowest wage earners are to be found commuting.
Minimum wages are the same way.

I hate minimum wage laws, but I hate the carbon tax even more. The rich can maybe afford to pay more for heat, electricity and food, but the poor cannot.

#52 PastThePeak on 01.11.18 at 7:43 pm

If SCM is taking over the comments section spewing ill informed garbage every 3rd post, perhaps it is time to move along…

#53 Kelsey on 01.11.18 at 7:44 pm

@SCM – you never addressed my question several posts back.

Is it moral for the government to prevent me from voluntarily exchanging my labour for less than $15 per hour if that is all that an employer is willing to pay me based on my productivity? What if this means I lose the opportunity to develop skills that will allow me to command an actual living wage in the future?

#54 CanadianOne on 01.11.18 at 7:46 pm

Updates from down under,

As the govt in Ausland tried to diss the pogey recipients, the tax office and it’s data dump shows otherwise…. the weakening of an economy is by design me thinks…. judge for yourself.
https://www.michaelwest.com.au/ato-data-dump-naming-and-shaming-the-nations-biggest-tax-cheats/

And then there are those who take gordon gecko too seriously, and don’t even get the slightest of “diversify” message…. in the near future we shall hear on the airwaves the great “mis-allocation” instead of “reallocation” debate take prime stage
http://www.afr.com/real-estate/residential/property-club-investors-stung-with-45-pc-mortgage-repayment-increases-20180105-h0e7w1

http://www.abc.net.au/news/2018-01-10/low-interest-rates-lower-productivity-keep-zombie-firms-alive/9316738

The reset can’t happen quick enough for some….
Once again, appreciate this place!
Thanks GT.

#55 tccontrarian on 01.11.18 at 7:47 pm

“There’s just too much upward momentum right now to go running away from equities.” -GT
————————————————
That’s what everyone in GTA was saying last April regarding RE!
Loose (and irresponsible) monetary policies world-wide, have created an environment of asset bubbles, one after another. The key to investing is to be able to recognize each one as it’s occuring and stepping aside in a timely fashion – even if it’s called ‘SP500’ or ‘Dow’, (or the Nifty-Fifty as in the early ’70s).
History does indeed rhyme…

My preferred way to be ‘safe’ is to establish a sizeable short position – so when (not ‘if’) the ‘correction’/’crash’ does occur, I’m not merely ‘only losing’ 20%, but actually gaining 20%!

Weed stocks may have another leg up heading into the summer, as official regulations are slated to be announced. Regardless, I have lightened up on my holdings to be prudent. My cost-base for my remaining stocks is actually negative! Volatility can be your friend, if you know how to embrace it. I’m still learning…

TCC

#56 N on 01.11.18 at 7:53 pm

Canada’s mortgage-rate trendsetter, Royal Bank of Canada, hiked its posted five-year fixed mortgage rate Thursday.
RBC’s 15-basis-point increase to its posted five-year fixed rate could mark an epoch in Canada’s mortgage qualification rate.
https://www.theglobeandmail.com/globe-investor/personal-finance/household-finances/rbc-just-hiked-mortgage-rates-heres-why-its-a-big-deal/article37584568/

#57 TurnerNation on 01.11.18 at 7:53 pm

@Tony there’s the buy in gold – will propel XEG.TO higher too. WEED.TO @ 44 was a once in lifetime moment.
I celebrated by putting on diagonal Calendar put spreads. Crazy high prem in Jan’s must be sold.

– Here’s a photo of my fellow tax slaves exiting Union Stn on the way to the towers:

https://www.thestar.com/business/2018/01/09/scooch-over-toronto-has-room-for-more-density-study-says.html

Look at their cheer and fresh from their Density-Diversity prefectures.

#58 I’m stupid on 01.11.18 at 7:56 pm

#27 Patric Littlejohn

And when I can buy the tech instead of the product I will. Until then it’s just a product being sold as an investment. Just like Nike Jordan’s, I’d buy Nike stock but not the shoes.

#59 Andrew Woburn on 01.11.18 at 7:56 pm

#152 the ryguy on 01.10.18 at 11:58 pm
#104 Andrew Woburn on 01.10.18 at 9:49 pm

“One of the enduring mysteries about blue collar Americans is that they don’t vote for their obvious economic interests such as the promotion of unions, government health care, reasonable consumer protections etc. You would expect them to vote Democrat but they voted Trump.”
—————————————————————-

You my friend, are a special breed of stupid.
===================

I appreciate logical counter arguments. Spraying juvenile invective says a lot more about you than me.

In any case I did not say I personally support more unionization, only that I would expect blue collar workers to try to use organize to better their lot regardless of the actual results, not side with businesses that they could reasonably consider are exploiting them.
Even Walmart seems to have woken up to the potential unionization threat and improved working conditions and training.

#60 For those about to flop... on 01.11.18 at 7:57 pm

Zap strap 35 pm
Some fellow dawg mentioned a good place for currency exchange in Van a while ago … anybody remember the name?

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

My wife goes to VBCE to get a better rate on American dollars.

Vancouver Bullion and Currency Exchange.

I just do nothing…

M43BC

#61 crowdedelevatorfartz on 01.11.18 at 7:58 pm

@Screwed Canadian Moaner

Judging from your 6 posts in less than 30 minutes….I assume that your still “hard at work” stealin time from “the man”…..like most of your cohort these days?

#62 Andrew Woburn on 01.11.18 at 8:04 pm

#150 Longterm on 01.10.18 at 11:39 pm

Fast forward 150 years and you can draw a line straight to the rise of Trump and support for him by poor whites in rural areas. It’s still about perceived loss of white privilege / social position and the fear of losing grip on that bottom rung. Only now the poor whites also see [brown] immigrants as yet another ‘threat.’
==================

Thanks for that lucid explanation. It does raise the interesting question as to what will happen politically when poor whites realize they have much more in common with poor browns and blacks. I am not expecting this anytime soon but if automation actually puts large numbers of unskilled workers on welfare, it is a distinct possibility.

#63 Screwed Canadian Millenial on 01.11.18 at 8:05 pm

#38 BobC on 01.11.18 at 7:02 pm

Are you really bringing up Seattle?

Employment soared. https://fred.stlouisfed.org/series/SEAT653NA

And unemployment plummeted to 4%. https://fred.stlouisfed.org/series/SEAT653URN

Lol conservatives literally think higher wages and low unemployment is a bad thing.

#64 jakck on 01.11.18 at 8:10 pm

“Instead of systematically reducing exposure as prices rise – by selling off positions and harvesting the gain – they cling to the whole wad and risk seeing precipitous declines.”

Does this apply to a balance portfolio too?

It’s called rebalancing. – Garth

#65 dr. talc on 01.11.18 at 8:10 pm

the wynne government IS amoral
higher minimum wage=more income tax collection and
that is their only goal
the long list of minimum wage payers are not blaming wynne, just some big mouth horton owners

blame horton buy a thermos

#66 Screwed Canadian Millenial on 01.11.18 at 8:11 pm

#53 Kelsey on 01.11.18 at 7:44 pm
First of all I would say that unemployment is at a 40 year low, job openings are piling up and obviously the economy does better when workers have more money in their pockets. Conservatives don’t understand that the economy is 2/3 consumption. There are more job opportunities, not less. And there is still a lower minimum wage rate for those under 18 which is fine. That actually addresses your complaint.

As it pertains to your fundamental and backward ideology, are you saying it’s morally wrong for the government to deprive slave masters from employing people at $1/hour?

#67 AGuyInVancouver on 01.11.18 at 8:12 pm

Forget Bitcoin, Vancouver Real Estate remains the safest place to make a big return. The NDP’s Finance Minister has announced she won’t ban foreign buyers so the money-laundering gravy train will roll on.

#68 For those about to flop... on 01.11.18 at 8:14 pm

Not too fussed who becomes the next mayor of Vancouver.

Someone who is not a ventriloquist and talks out of both sides of their mouth at the same time would be handy…

M43BC

#69 Blacksheep on 01.11.18 at 8:16 pm

“The latest whack comes from South Korea, where Bitcoin mania struck bigtime late in 2017. The country’s on the verge of wisely banning crypto exchanges”

“Will unregulated digital currencies replace fiat month issued by and backed by governments? Not in this lifetime.”
——————————–
Sovereigns will do every thing in their power to shut crypto’s out starting with banning trading, even trying to offer their own version of a cryptocurrency, but it won’t work and they can’t stop it.

With Western QE having run amuck, being unregulated and having zero attachment/liability to a sovereign is the big attraction of crypto. It will simply serve as an alternate transactional platform for those who desire the anonymity.

I’m sure, Central banks are very concerned.

#70 Danny on 01.11.18 at 8:16 pm

Garth
Yes took your constant reminder not to buy Bitcoin.
The benefit of reading your blog.

As per your “Trump is actually surviving ‘Fire and Fury.’ ” actually there is no law against being confused…..many people in nursing homes have that disability.

But on the other hand Trump made fun of journalist with disability…..pathetic for a senior to talk like a juvenile and have no remorse.

At least the book doesn’t poke fun…..just speaks like the fly on the wall…..that was permitted in the White House.

#71 Yuus bin Haad on 01.11.18 at 8:18 pm

#28 Smoking Man

Hey Smoke, it was TwinkleToes’ grand-père who was the gambler – at least Bill is only one step removed from his lucre.

#72 Happy Housing Crash Everyone! on 01.11.18 at 8:18 pm

https://www.theglobeandmail.com/globe-investor/personal-finance/household-finances/rbc-just-hiked-mortgage-rates-heres-why-its-a-big-deal/article37584568/

Happy Housing Crash Everyone Everyone!

Happy Housing Crash you stupid SHYSTERS.

#73 ContraFool on 01.11.18 at 8:18 pm

Among all this mayhem, This RipVanWinkle muses:

Whatever happened to all the Canadian Real estate HedgeFund Jokers our Host cozied up to, oh, I dunno about a year ago?

Did THEY ever make any moolah?
Hmmm, Just Wondering?

#74 ozy - STOP the fighting little boys, your bunker ready?? on 01.11.18 at 8:20 pm

http://www.cnn.com/style/article/doomsday-luxury-bunkers/index.html

#75 Missing the East Coast on 01.11.18 at 8:20 pm

Garth I have really enjoyed your posts and I have also enjoyed reading the debates in the comments section – some comments have cracked me up!

Until now. This has become the SCM show and it’s sadly very tiring.

SCM – one thing I’ve learned and sometimes the hard way – there are two sides to every story and the truth is always somewhere in the middle. Critical thinking is key. You really should try it.

Time to move on.

#76 genbizx on 01.11.18 at 8:27 pm

Screwed mill thinks there was no impact last time min wage was raised…him and his ilk wont be smart enough to notice the effects this time either

#77 conan on 01.11.18 at 8:27 pm

“The real risk is trying to get by in this frozen wasteland of a country on $14/hour.” – Blogdogous Maximus

Yep, the pioneers and voyageurs did not have to put up with that shit. Whenever I have to get up from the couch and make a snack in the kitchen I think, Pioneers never had to do this poo.

https://www.youtube.com/watch?v=6h6avrP_vt0

#78 John on 01.11.18 at 8:28 pm

Calgaryguy

Dagcoin? lol … it’s a scam, suggest you do some research

#79 You Press The Button, We Do The Rest on 01.11.18 at 8:31 pm

Kodakcoin won’t be around long enough to even qualify as a Kodak moment.

#80 Blacksheep on 01.11.18 at 8:32 pm

“Your pretty good at this.”
——————————-
Only fools engage.

I have a millenial daughter that gets it, this person only bitches / moans and is simply toxic to read.

Anything I see that says SCM….I skip right over.

#81 akashic record on 01.11.18 at 8:34 pm

If you think that putting some money in Bitcoin is such a huge risk, you obviously never tried something really risky, like immigrating without any government sponsorship/assistance.

But even that is a piece of cake for countless other risks that plenty of people take in life for various reasons every day.

Counting on 7% average return on your money is basically an investment with risk avoidance strategy.

There is nothing wrong with it if that’s what you find personally the most comfortable.

It all depends on the psychological attribute of general risk tolerance of the individual.

For a person who sets his/her mind on steady “guaranteed” 7% average return everything else is “gambling”.

#82 Captainsurfalot on 01.11.18 at 8:41 pm

One thing about this blog these days is that everyone knows everything and they all can see into the future. It’s very Canadian on here. Like crabs in a bucket. You need a lid on the USA Crabs but not the Canadian-those crabs just keep pulling each other back in the bin. No wonder most Canadians can’t afford a home anymore. They are a bunch of closest commies just hating on their next door neighbor when they strike it rich. Life is an adventure. You win some you lose some. Every investor/speculator has them. If you haven’t you’ve never really been in the game. RISK and IDEAs are what drives perpetual growth-which is the narrow mentality of our present economic structure. sadly effed the present system is effed so many ways. Equal opportunity in this world-lol Too many smug souls on here. Most of you are in a fight to the middle-so start respecting one another. That’s where you are going to stay. Hopefully a minimum wage worker can now afford to take their kid to the dentist. They aren’t all kids-they are humans working just trying to survive. Don’t forget that. Anyone of us could have a turn of events in life and the next thing you know it’s dog food for dinner.

#83 Smoking Man on 01.11.18 at 8:46 pm

SCM

They spiked min wage and this happens. You don’t understand capital has wings and can fly anywhere it wants. If you want go after rich people they just pick up and go. Go after small biz they close shop
Many small business in Hamilton closing there doors.

https://www.zerohedge.com/news/2018-01-11/walmart-abruptly-closing-hundreds-sams-club-stores-same-day-it-raised-wages

#84 greyhound on 01.11.18 at 8:50 pm

‘Said one Wall Streeter on Thursday: “What’s been driving the markets is that equities and investors have continued to price in the potential gains from tax reform…’

What’s been driving world markets is central bank money printing.

Nope. Look at corporate profitability. Houses are inflated by debt. Stocks are inflated by earnings. Big difference. – Garth

#85 Trojan House on 01.11.18 at 8:55 pm

#12 SCM

You have been spoon fed too much government propaganda which is many times worse than corporate.

#86 ImGonnaBeSick on 01.11.18 at 8:56 pm

I try to ignore the little troll as much as possible. I’ve really enjoyed nonplused’s posts lately. As far as the venom this MW increase is getting, it’s that the increase is too much too fast. It may have already been touched on, but the ON Liberals already pegged min wage to inflation in 2014, but failed to increase it each year. Why is that? Because this is vote buying 100% and creating bogeymen out of businesses since they are in direct competition with this far left government.

“In 2005, Ontario’s minimum wage sat at $7.45. Adjusted for inflation that is equivalent to $9.11 in 2017 dollars. The minimum wage is currently set at $11.40 per hour.” Ottawacitizen. March 30, 2017.

Now it’s $14.00. Why didn’t Wynne just increase the personal expemtion so that businesses could maintain margins and MW workers could retain all of their incomes? Likely for the optics.

#87 What I believe I know on 01.11.18 at 8:56 pm

The best financial advice I can give, that has worked very well for me, is to buy a house and pay it off. First and foremost. Investing in ETFs comes later. Timing the housing market is nonsense. Expecting rates to go up and housing to consequently come down is equally nonsensical. All you have to realize is how massively indebted this country is. At all levels. You will then know the country’s economy could not possibly withstand a sizeable rate increase. Not even if spread over a decade. That’s why the BOC keeps stalling on rate increases though they yap about them a lot.

You seriously think the best thing a young couple can do is take on a mortgage of $800,000 and spend two decades diverting all their cash flow into it? What worked years ago is now a debt trap. By the way, mortgage rates went up again today. – Garth

#88 Trojan House on 01.11.18 at 9:01 pm

#36 SCM

This is where you have lost all credibility. Can you provide any stats that say a Tims franchise is low risk? Can you provide any stats to show that any franchise is low risk? Just ask any Quizno’s owner how it worked out for them even though they were “provided” everything?

You really have no clue how a business runs do you?

#89 Russ on 01.11.18 at 9:10 pm

T on 01.11.18 at 7:15 pm

#3 Screwed Canadian Millenial on 01.11.18 at 6:15 pm
Lol it’s not millennials buying Kodak gimme a break. It’s Wall Street, algos and traders trying to make a quick buck.

I guess that’s the problem with conservatives. They think their feelings are more important than the facts.

——————

Another funny post! And another reference to an opinion piece as fact! Thanks SCM. I’m glad someone is bringing comedy to the comments section.

=======================

I found her.

SCM has an opinion presence.

https://www.youtube.com/watch?v=7GmJfxlSlJc

#90 akashic record on 01.11.18 at 9:15 pm

Wall Street Bank With Three Felonies Sends Employee To Head SEC Trading Division

This is gambling and probably effects way more investors and the general public than crypto. Just remember why the world was flooded with cheap money for a decade.

https://www.zerohedge.com/news/2018-01-11/wall-street-bank-three-felonies-sends-employee-head-sec-trading-division

#91 For those about to flop... on 01.11.18 at 9:26 pm

For those about to flop… on 01.09.18 at 9:20 pm
#66 Brian1 on 01.09.18 at 8:48 pm

Trump held a meeting today which debunks Michael Wolf’s book.Even the left wing media was astounded
with Trump’s performance. What a change.

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

Even a ratbag like myself can behave for one hour ,once a year…

M43BC

&&&&&&&&&&&&&&&&&&&&&&&&

Told Ya!

Less than 48 hours later it emerges that The Orange Octopus labeled several countries “shitholes”…

M43BC

#92 millmech on 01.11.18 at 9:28 pm

#56
Funny thing, before every rate increase you will see the banks raising rates by this amount, so expect a yearly rate increase of 1.6%, could be qualifying at 6.59% in a year, and the following year could very well be qualifying at 8.19%.Does not take long for this to hurt!

#93 AB Boxster on 01.11.18 at 9:30 pm

Here Garth,

A little code for your blog filter:

If blog.post.username.text.value = “Screwed Canadian Millenial”
then
this.post.delete_forever_ridiculous_nonsense.execute()
endif

Good luck

#94 acdel on 01.11.18 at 9:30 pm

#28 Smoking Man

Your a paid troll for the Librals. Quite obvious. I hope your billing them good. Your pretty good at this.

——————————————————

Actually he is not; I am getting quite a chuckle over his posts like many of us. Time is the teacher and he/she will learn like the rest of us have.

#95 Unhinged Trader on 01.11.18 at 9:31 pm

The only people liable to buy a Kodakcoin (lel) are Baby Boomers with a dim idea of crypto and not savvy enough to get into the Crypto exchanges directly.

Bitcoin is a legacy technology that dates from 2009. There are superior tokens/coins now available, so Bitcoin will be relegated to novelty status, perhaps a store of value in the new crypto economy. Ethereum, a much improved token and independent network just did $450 to $1200 in the span of two weeks…

Only dinosaurs invest and hold Bitcoin, it’s main purpose now is as a gateway into fiat.

Anyway folks, enjoy those exciting 4% gains that the indexes will yield.

#96 millmech on 01.11.18 at 9:40 pm

#56
Just think of qualifying for a $800,000 @ 8.19% in two years, it is only $6300/mth, so to qualify you need a yearly income of $226,800. I know people who make way less than this but carry about this amount, do not worry they will have five years to pay it down. Also they could well be qualifying at 12.99% in five years time.

#97 Ronaldo on 01.11.18 at 9:52 pm

#18 Screwed Canadian Millenial on 01.11.18 at 6:30 pm

By the way, most of the time when I post, it’s from work or home. Why did it trigger you boomers so much when I post from a McDonalds while drinking my McCafe coffee?
————————————————————
I hope it was during your unpaid lunch break.

#98 LivinLarge on 01.11.18 at 10:02 pm

“Is it moral for the government to prevent me from voluntarily exchanging my labour for less than $15 per hour if that is all that an employer is willing to pay me based on my productivity? What if this means I lose the opportunity to develop skills that will allow me to command an actual living wage in the future?”…now you’te bringing in morality????

If someone wants to kick back some oart of their pay for experience and knowledge then let them do it but on when they choose and without any requirement from an employer…that’s extortion and it happens in a lot of places in the world.

But, how many jobs that require minimum wage are really training you anything of real value that you can carry. Forward and build a career on???? Yea, none.

#99 greyhound on 01.11.18 at 10:04 pm

‘Said one Wall Streeter on Thursday: “What’s been driving the markets is that equities and investors have continued to price in the potential gains from tax reform…’

What’s been driving world markets is central bank money printing.

Nope. Look at corporate profitability. Houses are inflated by debt. Stocks are inflated by earnings. Big difference. – Garth

—————————————-
I disagree. Corporate profitability is largely based on huge debt, acquired because of central bank easy money.

Global central bank balance sheets currently amount to more than $21 trillion. With a T. And growing. Every bond a CB buys to lower interest rates causes bond prices to trend higher. Trillions of those purchases with money conjured out of thin air have pushed up stocks as well because yield-starved investors — like pension funds — have no where else to go but the stock market to try and get a return.

#100 Adrian on 01.11.18 at 10:05 pm

Bitcoin will continue to go up. Not a guarantee, but I’ve done my share of mining and understand the system well enough to believe that it will. It wont be a smooth ride upwards, but over the long term, it’s it likely heading higher. Here’s why:

1. Mining bitcoin, aka processing transactions, requires energy (electricity). Energy prices will continue to increase, as will mining difficulty (computation power required). The reward for mining (BTC reward per block) also shrinks over time, so you end up with less BTC for the energy dollar spent.

2. Every time the price surges, people pile in and buy BTC, but some also buy mining gear which gets put to use right away. The increase in more mining power increases mining difficulty and decreases the reward per equipment dollar spent.

3. Most people hoard BTC and don’t want to sell, and they definitely won’t while it’s on the way up. During the early days of cryptos, when a lot of coins were issued, BTC cost next to nothing. People bought it for the heck if it, as an experiment, so they probably don’t have much to lose anyway. There is definitely more upside than downside to just letting it ride. Some people that got in early would rather not sell due to possible tax implications.

4. There is still not a lot of exposure to it. A lot of people I talk to, don’t know what it is or how it works. If you ever take the time to look into the system you’ll realize how clever it really is, and there is a lot of appeal in just that.

5. Most BTC exchanges make it very difficult to convert BTC into cash, while making it super easy to buy BTC. This is true for all cryptos in general.

6. As mining difficulty and costs increase, and the reward decreases, miners must ask for more money for each BTC in order to break even. If they don’t break even, then they will stop mining and the whole thing collapses, so they must continue to feed this positive feedback loop. A lot of people out there are too invested and they won’t let this thing collapse too easily.

7. Folks believe this is a good protection from inflation which is likely going to ramp up.

On the other hand, here are the two major threats that could wipe out BTC (and friends) completely:

1. Quantum computing… actually this is a threat to all encryption so it’s a lot bigger than just BTC.

2. End of mining reward after all BTCs are issued. This will make mining (processing transactions) pointless or increase transaction costs (already high) to a point where it just won’t be worth it.

My $0.02. Your mileage may vary. Just like with fiat, you must believe or bust!

You missed the biggest threats. – Garth

#101 acdel on 01.11.18 at 10:05 pm

I found this interesting due to the fact that this is the first I have heard of this (personally)..

http://business.financialpost.com/commodities/energy/tmx-waits-for-official-aramco-decision-amid-reports-it-will-miss-out-on-worlds-biggest-ipo

#102 Hugh Janus on 01.11.18 at 10:07 pm

Are intimidation and fear mongering the only defence that bankers and bean counters and talking heads have against cryptos?

Jamie dimon, warren buffet, many oligarchs and govts are crapping their pants at the thought of cryptos. They really dont have any control over them do they? If they did wouldnt it already be regulated?

If you research blockchain technology, there is no way for anyone to “control” it. It truly is a ledger for everyone to see but noone to touch. I fail to see how the govts are going to control it.

The cra would love to have capital gains apply to your bitcoin but how? Are they going to phone and threaten you? Or will they just call and ask nicely and say can you please tell us how much bitcoin you have so we can tax you on it?? Please. How will this work?

I can go on and on but right now i can buy weed with bitcoin. Nobody can do anything about that. I can also pay for building materials with bitcoin as my friend sells building materials and he will take bitcoin from me. Is he avoiding the taxman? Dont know, dont care. Nobody but he or i will know.

#103 crowdedelevatorfartz on 01.11.18 at 10:08 pm

1980:
Canadian Military cutting back on Boomer staff.
Unemployment rising to 10%
Interest rates rising above 20%

2018:
Canadian Military short of staff offering wifi on ships at sea.
Tours at sea no longer than 180 days max to appeal to Millenials. ( God help us)
Unemployment 5%
Mortages rates “rising” to 3%

Boomers had it so much easier back then………
Millenials suffer so much now……

#104 CANADA IS A SHITHOLE COUNTRY on 01.11.18 at 10:09 pm

You whining lefty millenials are not welcome in the USA.

GO AWAY!

#105 akashic record on 01.11.18 at 10:12 pm

#94 acdel on 01.11.18 at 9:30 pm

#28 Smoking Man

Your a paid troll for the Librals. Quite obvious. I hope your billing them good. Your pretty good at this.

——————————————————

Actually he is not; I am getting quite a chuckle over his posts like many of us. Time is the teacher and he/she will learn like the rest of us have.

===

Congrats, you are qualified now to work at

Twitter,
https://www.zerohedge.com/news/2018-01-11/veritas-latest

Facebook
https://www.zerohedge.com/news/2018-01-11/facebook-introducing-sweeping-changes-will-prioritze-only-trustworthy-news

or YouTube.
https://www.globalresearch.ca/google-hiring-10000-reviewers-to-censor-youtube-content/5622259

#106 akashic record on 01.11.18 at 10:15 pm

Oopssss…. The Twitter, Facebook, Youtube, etc. qualified programmer is:

#93 AB Boxster on 01.11.18 at 9:30 pm

Here Garth,

A little code for your blog filter:

If blog.post.username.text.value = “Screwed Canadian Millenial”
then
this.post.delete_forever_ridiculous_nonsense.execute()
endif

Good luck

#107 Kelsey on 01.11.18 at 10:15 pm

#66 SCM

You are missing my point. The Minimum Wage operates by using the force of the state to prevent two willing participants from transacting at an agreeable price, even though they are not harming anyone else.

Think about it – the Minimum Wage laws don’t say that Tim Hortons has to pay people $15/hour or employ a certain number of people. It says that they will face a penalty for paying people less than $15/hour, even if those people are willing to work for less because it would make them better off. It doesn’t operate by giving anything to workers and employers, it operates by taking rights away from both the employee and the employer. This benefits some employees to the detriment of others, and of course hurts both the employer and consumer. Basic economics suggests a net loss to society, although I will leave that as an aside as it is not my main point.

Regardless of the net financial impact, isn’t this immoral? Don’t at least some low wage workers and consumers suffer under this immoral policy, even if others benefit?

Also, nobody has a god given right to transact at certain prices, so saying that the Government is “depriving” low wage workers by not increasing the minimum wage is disingenuous. Are you being “deprived” of a house in West Vancouver because the owner is unwilling to sell it for a price you can afford and the government has yet to pass a rule mandating that houses in West Vancouver must be sold at prices affordable for Screwed Canadian Millenials?

#108 Screwed Canadian Millenial on 01.11.18 at 10:17 pm

#88 Trojan House on 01.11.18 at 9:01 pm
You really have no clue how a business runs do you?

————–

I do actually. The average Tim Hortons franchisee makes $300,000 to $400,000 a year.

https://www.youtube.com/watch?v=cj06ZdtEvG0&feature=youtu.be&t=153

They can easily afford to pay their workers higher wages. When workers have more money to spend, they buy things. The economy does better. Like I said, conservatives have no clue that the economy is 2/3 consumption.

What you’re referring to when you say “You really have no clue how a business runs do you?” is that of course these owners would rather pay their workers starvation wages so they can stuff their fat pockets. Of course I understand that. But there is a growing backlash against the system you espouse where a few 1 or 2% at the top are incredibly wealthy while millions of hard working Canadian are mired in poverty and stuck scraping by paycheque to paycheque.

You are posting too much. Done. – Garth

#109 negotiate on 01.11.18 at 10:18 pm

Interesting stat from REBGV for december:

Vancouver apartments selling (on average) a little bit above ask.

Vancouver houses are selling below list.
92% of list price on West Side.
95% of list price on East Side.

Townhomes a little below ask, btw.

So if you are a decent negotiator then you should be able to talk down the price on west side home by almost a tenth.

#110 Screwed Canadian Millenial on 01.11.18 at 10:18 pm

#88 Trojan House on 01.11.18 at 9:01 pm
Oh I almost forgot to mention. Running a Tim Hortons franchise is so low risk and stress-free that you can literally run multiple locations while wintering in Florida. Doesn’t get much easier than that. It says a lot about you that these are the people you fight for.

#111 SWL1976 on 01.11.18 at 10:20 pm

#18 Screwed Canadian Millenial

By the way, most of the time when I post, it’s from work or home. Why did it trigger you boomers so much when I post from a McDonalds while drinking my McCafe coffee?

===============

I’m not a boomer, but you’re definitely a joke

Protesting Timmy Ho’s from Rotten Ronnie’s is laughable

Just goes to show your idea of a corporate protest runs about as deep as your knowledge of basic business

Let’s just hope not all millennial’s are as screwed or as hopeless as you. It wouldn’t be fair to judge an entire generation based on your posts here, such as you do to boomers

Smoking Man has been spot on with plenty of calls here on this blog and labeling you a paid liberal troll just might be another

#112 PastThePeak on 01.11.18 at 10:21 pm

Nope. Look at corporate profitability. Houses are inflated by debt. Stocks are inflated by earnings. Big difference. – Garth

==================================
US and Canadian corporate debt is at huge levels, with much of that used for share buybacks, which improves the share price-per-earnings metric.

Ultra low interest rates and vastly increased money supply didn’t just inflate real estate assets.

Nor are they the primary reason for equity valuations. Pure myth. – Garth

#113 Screwed Canadian Millenial on 01.11.18 at 10:22 pm

#83 Smoking Man on 01.11.18 at 8:46 pm
Smokey did you even read the article you linked? These are your Trump corporate tax cuts in action my bald friend.

Walmart is abruptly closing 63 Sam’s Club stores and laying off thousands of workers
http://www.businessinsider.com/walmart-suddenly-closes-sams-club-stores-2018-1

AT&T to cut about 4,600 jobs
http://abcnews.go.com/Business/story?id=4690197

Companies that announced big bonuses after GOP tax cut are now laying off their workers
https://thinkprogress.org/companies-gop-tax-bonuses-layoffs-fdf07fdf90d2/

Corporations are taking their tax cuts and investing in job cuts. Exactly what I told you would happen. They’ll be investing in more automation and plenty of factories… overseas.

Did you really think a corporation that makes $13 billion a year in PROFITS needed a tax cut?

#114 Giver- AB on 01.11.18 at 10:28 pm

We have a Canadian example of a sharp increase in min wage to use as a case study.

BC increased minimum wage from $8 to $10.25 between Apr 2011 and May 2012. For those of you keeping score, that’s a 28% increase in 13 months. The predictions were similar as we are seeing for Ontario – the Fraser Institute claimed 52000 lost jobs would result.

“A recent Fraser Institute study estimated that if the B.C. government succumbs to calls from unions and other activists to increase the minimum wage rate to $10 an hour from the current rate of $8, the province would shed upwards of 52,000 jobs.” (source https://www.fraserinstitute.org/article/hard-facts-about-bcs-minimum-wage)

From 2010 to 2012 the BC unemployment rate went from 7.7% to 6.8% and provincial GDP rose steadily from 205B in 2010 to 221B in 2012. (sources below).

I’m fully aware that this is a very high level look at things and there were some tough adjusrments for businesses. But the economy adjusted and increasing the minimum wage didn’t crater the provincial economy.

I think ON is going to be OK too.

Unemployment rate source: http://www.stats.gov.nl.ca/statistics/labour/pdf/unemprate.pdf

GDP growth source: https://www2.gov.bc.ca/gov/content/data/statistics/economy/bc-economic-accounts-gdp

#115 OttawaMike on 01.11.18 at 10:43 pm

SCM IS my second favorite commenter here after Smoking Man of course.

#116 Lily Joe~ on 01.11.18 at 10:46 pm

You are a very talented at writing. Thank you again for the advice

#117 down_boy on 01.11.18 at 10:47 pm

One thing I’ve learned about making wealth, never get entrenched in a bias. Flexible is just as important as diversity and balance. This also makes tomorrow full of wonder.

#118 Paul on 01.11.18 at 10:53 pm

Screwed Canadian Millennial.
I can’t imagine how pissed he is at the world,
Poor baby, it’s like that old cereal commercial Mikey hates everting.

#119 Nick on 01.11.18 at 10:53 pm

I enjoy this blog for the great writing but I take a pass on any market related advice. This market (US) is in the top three highest valued markets in history based on several measures. We are all enjoying some nice momentum right now but any correction will likely be beyond 15-20%. Just google the Shiller Margin-Adjust CAPE, based on this measure it’s the most expensive market in history. Low interest rates don’t justify this level of valuation. I’m still riding the wave in my low cost ETFs (Can’t argue with you there) for now. Should be fun to watch when things normalize.

Stock markets do not decline just because they go up. History proves you wrong. Corrections come routinely, but the overall direction is higher, pacing global economic conditions, which are rapidly improving. – Garth

#120 berniebee on 01.11.18 at 10:58 pm

I had to laugh when I saw a well known restaurant owner in downtown Ottawa (The name of the place was something like the “African American Tomato”.) claim he was closing his restaurant because of the minimum wage increase. What, he couldn’t compete with other restaurants that have the SAME labour costs?

And I never see the acknowledgement in the print media that pretty well every extra dollar that a minimum wage worker earns will be pumped right back into the economy. Unlike high earners, a $15/hour worker won’t be investing in an ETF with their new found “wealth”.

#121 Done Canadian Millenial on 01.11.18 at 10:58 pm

Done?! But Garth I’m having so much fun!

#122 Nick on 01.11.18 at 11:00 pm

Quick comment Garth. You mentioned that valuations are impacted/inflated by earnings but it’s earnings per share which is the driver. That measure is impacted by the # of shares outstanding which can be reduced thru share buy backs. So corporate debt can play a role in driving valuations. The markets reward this type of corporate behaviour these days, the balance doesn’t seem to matter. Another key driver is central bank balance sheets, they seem to be correlated to total market values and likely causation. My take.

#123 Trojan House on 01.11.18 at 11:15 pm

From the National Post, January 30, 2014:

“Anti-poverty activists and unions have been demanding an immediate increase to a $14-an-hour minimum wage, but the government has said that would hurt businesses and end up reducing jobs.” That government was the Ontario Liberals, Kathleen Wynne as Premier.

“Wynne promised legislation to tie all future increases in the minimum wage to the rate of inflation, they froze it at $10.25 an hour in 2010.” Minimum wage frozen by the Liberals for 4 years from 2010 to 2014 (yes, SCM, the Tories froze it for 9 years before that).

http://nationalpost.com/news/politics/ontarios-minimum-wage-to-rise-to-11-an-hour-this-june-an-increase-of-75-cents-an-hour

From The Toronto Star, January 27, 2014:

“But that’s as far as it goes. Despite a high-profile campaign by the labour movement and anti-poverty groups to raise the minimum wage to $14 an hour, the government isn’t about to boost the base beyond inflation.”

“Is the minimum wage an anti-poverty tool, an economic marker or a political symbol? It is surely all three.”

“The majority of minimum wage earners — 56 per cent — are working-age children who are dependents living in the family home, not in poverty. Only about 12.5 per cent of minimum wage earners live in poor households, according to Statistics Canada.”

https://www.thestar.com/news/queenspark/2014/01/27/minimum_wage_climbs_to_11_in_ontario_cohn.html

I haven’t research the most recent stats that were quoted in the Star article but I bet it hasn’t changed much.

Definitely a vote grab not to mention a tax grab to help pay off Ontario’s $360 billion, and rising, debt.

#124 Chico on 01.11.18 at 11:18 pm

Speaking of working at Timmies…how about a mortgage payment of $213.44, $2250.00 down. Low stress job, no more long commute, and less than five minutes to the beach. Oh, yeah…car insurance is 1/4 of the cost of Calgary or the lower painland, and probably lots of other places around the country.

https://www.realtor.ca/Residential/Single-Family/18973475/72-Cedar-Street-Pictou-Nova-Scotia-B0K1H0-Pictou

#125 Smoking Man on 01.11.18 at 11:21 pm

#113 Screwed Canadian Millenial on 01.11.18 at 10:22 pm
#83 Smoking Man on 01.11.18 at 8:46 pm
Smokey did you even read the article you linked? These are your Trump corporate tax cuts in action my bald friend.

Walmart is abruptly closing 63 Sam’s Club stores and laying off thousands of workers
http://www.businessinsider.com/walmart-suddenly-closes-sams-club-stores-2018-1

AT&T to cut about 4,600 jobs
http://abcnews.go.com/Business/story?id=4690197

Companies that announced big bonuses after GOP tax cut are now laying off their workers
https://thinkprogress.org/companies-gop-tax-bonuses-layoffs-fdf07fdf90d2/

Corporations are taking their tax cuts and investing in job cuts. Exactly what I told you would happen. They’ll be investing in more automation and plenty of factories… overseas.

Did you really think a corporation that makes $13 billion a year in PROFITS needed a tax cut?
……

Absolutely, especially if I’m a share holder. That’s capitalism, you risk some capital to hopefully make more.
It’s a no brainer.

This is where your an idiot. You seem to think that crusading to help others may score you some points in the event that you get into some financial difficulty one day..

Wrong, and this is from experience. Got into deep financial shit in the 90s when the hst came into effect and the housing market went south, had a few properties. I had two business and sales just stopped dead in there tracks. Lost booth in a span of 6 months. Barely hung onto the family home. 3 mortgages.

Guess What, all the friends I thought I had vanished into thin air. Very valuable lesson wee grasshopper.

Worry about yourself because that’s all you have.

An I ever going to get into that brain washed head of yours.

#126 Trojan House on 01.11.18 at 11:24 pm

Sorry, I meant the 9 years before the Liberals were in power in 2003.

#127 M on 01.11.18 at 11:28 pm

You said it yourself Gartho:

“The main US stock index set 70 net record highs in 2017. Unbelievable. It advanced 5,000 points in 12 months for a gain of 25%. The last thousand-point sprint was unprecedented in investment history. Now, over the eight trading days of 2018, it has jumped 3.5%. Yeah, another record high.”

What exactly is the difference between bitcoin and the stock market ?

:)

Congrats. Lamest comment of the day! – Garth

#128 Leo Trollstoy on 01.11.18 at 11:33 pm

Trump so dum and Dims so smart but Dims still couldn’t stop Trump from taking Presidency

#129 BillyBob on 01.12.18 at 12:15 am

I actually DID find a video of SCM with an on-air interview fighting for the $15 minimum wage! It’s weird how closely she resembles the way I imagined her.

You just can’t cure stupid.

https://www.youtube.com/watch?v=32PPG0CG8AE

#130 conan on 01.12.18 at 12:24 am

#120 berniebee on 01.11.18 at 10:58 pm

I heard it was a lot more to do with the fact this his landlord wanted a huge increase in rent. CFRA, a local Ottawa radio station, with short pant leanings, turned it into a story about the min wage increase.

Borrowing a phrase from Trump here: Fake news.

#131 Tony on 01.12.18 at 12:24 am

Re: #3 Screwed Canadian Millenial on 01.11.18 at 6:15 pm

From what I’ve seen years ago in Alberta is no one will work any job for under 20 dollars an hour. They will go on welfare instead.

#132 Tony on 01.12.18 at 12:27 am

Re: #13 ImGonnaBeSick on 01.11.18 at 6:28 pm

Exactly and the 2 percent are likely all illegals.

#133 earlybird on 01.12.18 at 12:29 am

Why when boom times appear, and wages start to rise, do we import so much labor? That’s right, to bring wages back down and fill skill shortages. Our economy is addicted to low wages…and its ill effects are now materializing…the have-nots are voting, and they are a large generation. SCM has some very good arguments….and is a common viewpoint.
Tax the robots!

#134 When Will They Raise Rates? on 01.12.18 at 12:32 am

Lol at the noobs who are witnessing their first bitcoin dip, calling the demise of bitcoin. Pro tip: this is what bitcoin does.

The reality is that bitcoin will outperform the Dow over the next 365 days – by at least an order of magnitude.

Current bitcoin price: $13,685
Current DOW: 25,574

Bookmarked.

#135 Tony on 01.12.18 at 12:42 am

Re: #57 TurnerNation on 01.11.18 at 7:53 pm

The marijuana stocks will turn out to be much better short sales than the stemcell stocks were. Good luck I hope you’re not the buy and hold type. Like I already stated with oil, the world can’t sustain an oil price above the 50 dollar U.S. level for West Texas crude. World growth will tank because the price of oil is too high. That’s why I’d be short oil not long oil.

#136 Smoking Man on 01.12.18 at 1:07 am

Shit Hole Countries

Trump triggers MSM again. Increasing his popularity yet again amongst the unschooled. The majority.

Demoncrats are toast.

Dr Smoking Man
PhD Herdonomics

#137 NoName on 01.12.18 at 1:08 am

Interesting read.

https://slate.com/health-and-science/2018/01/oprah-winfrey-helped-create-our-irrational-pseudoscientific-american-fantasyland.html

#138 What I believe I know on 01.12.18 at 1:08 am

You seriously think the best thing a young couple can do is take on a mortgage of $800,000 and spend two decades diverting all their cash flow into it? What worked years ago is now a debt trap. By the way, mortgage rates went up again today. – Garth

—————————————————————–

If somebody want’s a house in the GTA, what is the alternative to buying now. To wait until there is a RE correction and GTA RE prices revert to what they were 8 years ago? Well, it isn’t going to happen. Why? Because the stress test is bogus. Like all other prior measures it will fail to have an impact. What I believe I know is that unless we get SIZEABLE rate increases and hugely curtail immigration and stop CHMC subsidies, GTA prices will never correct. Since none of those things are going to happen, might s well buy now.

#139 Craig on 01.12.18 at 1:11 am

Re #104

The US has over 40 million people on food stamps and averages about one mass shooting for every day of the calendar year and currently has a sociopath for a president ( many of his own republican party members and white house advisors have referred to him as the “idiot” ). I’ve never been so thankful to live in in this s***hole country !

#140 For those about to flop... on 01.12.18 at 1:14 am

Recent Sale Report./Realtor Assistance Needed.

This house sold on December 5th 2017.

They paid 4.36 in July 2016 when at the time it was assessed 4.09

Fast forward to now and the latest assessment came in at 3.84 and these guys were asking 4.65 to try and cover most of their costs.

So by now you realtors know how the dance goes.

You can tell us now what they got for it or I will wait three months until the database gets updated and report it.

Book it…

M43BC

https://www.zolo.ca/vancouver-real-estate/1324-w-58th-avenue

#141 Smoking Man on 01.12.18 at 1:25 am

Im calling Sara Huckaby Sanders the first female president on the USA in about 7 years. That my friends is true kick some mental case nuts feminist.

Love her.

#142 Newcomer on 01.12.18 at 1:35 am

You guys need to get out a bit more. SCM is a bit of a one-track talker, and quite rude at times. but not crazy or unusual, or even particularly hard left. These are run-of-the-mill centrist views for most people under 30. Many of you act like you’ve never heard these things before. Just skip over those posts if you don’t like them, or try to figure out the thinking behind them. We have some stock characters here. SM is often drunk and incoherent, Mark follows a school of economics that has only one member, and SCM repeats a watered-down version of typical college coffeeshop views. If you’ve learned to shrug and move on for SM and Mark, you can do the same thing with SMC, who is doing a better job in getting exposure to other people’s view than many here.

#143 Smoking Man on 01.12.18 at 1:49 am

My best friend is an empty bottle of JD. It never lies to me but listens to all of mine.

#144 Mark on 01.12.18 at 3:40 am

“The markets reward this type of corporate behaviour these days, the balance doesn’t seem to matter.”

The balance sheet absolutely does matter. Equity is the most expensive obligation on the balance sheet. By retiring equity (ie: by paying existing owners out through share buybacks), more of the return of the existing business is left for those who remain invested.

The glaring problem with buybacks is when they occur at the top of the market in businesses which are not sustainable or viable over the long term. Or if they sacrifice liquidity that might be needed to weather a business downturn. Don’t really see any evidence of this happening in Canadian TSX-listed companies (maybe one or two of the TSX60 names at best), but lots of examples of value-destroying buybacks certainly exist in the US.

#145 Howard on 01.12.18 at 4:47 am

#49 Skeptic on 01.11.18 at 7:35 pm

For those people who think Bitcoin is blockchain, and is the be all and end all of cryptocurrencies (looking at you Garth), you shouldn’t be investing in the space at all. For those who have researched and understood the impact that blockchain, smart contracts and micro payments will have in the future, keep investing in etherereum, iota and others.

I remember that in the late 90’s, Buffett issued a similar warning about e-commerce companies. I bet he wishes he had invested in Amazon then.

————————————

Buffet’s warning was that the dotcoms were in a bubble. Did you lapse into a coma in 2000/2001?

For every Amazon success there were about 100 failures that took their shareholders’ savings with them to the grave.

#146 Sven Jarlsberg on 01.12.18 at 6:41 am

Trump is crazy if he thinks a Norwegian would leave his cozy socialist paradise.
What a drittsekk!

#147 Howard on 01.12.18 at 6:45 am

#139 Craig on 01.12.18 at 1:11 am

Re #104

The US has over 40 million people on food stamps and averages about one mass shooting for every day of the calendar year and currently has a sociopath for a president ( many of his own republican party members and white house advisors have referred to him as the “idiot” ). I’ve never been so thankful to live in in this s***hole country !

—————————————–

Look at the state of Canada’s First Nations people before you judge the United States. The 20th century, mostly ruled by Liberals, left them in their own isolated s***holes scattered across Canada. Harper tried to improve their lot but now T2 is going back to the failed Liberal policies.

#148 Ace Goodheart on 01.12.18 at 6:53 am

Here’s an interesting list for those of you with very high bandwidth (this kept crashing my browser, because it is a very, very long document – I was finally able to download it):

https://coinmarketcap.com/all/views/all/

This is purportedly a list of all cryptocurrencies.

Of course, it isn’t. Here’s another list, containing coins not on that list:

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

Oh and here’s another, with about 2500 more coins than listed on the first two:

https://cryptocoincharts.info/coins/info

And another list, with a few new ones not on the first three:

https://altcoinsfoundation.com/cryptocurrencies/all-cryptocurrencies-list

How many cryptos are there actually out there? It would appear that even the internet does not know the answer to this. I have found over 5000 of them just by googling the phrase “all cryptocurrencies list”. Each website I found contained cryptos not found on other lists. No one seems to agree how many there are, or what they are.

Cryptos do not seem to be a useful form of currency, simply because there are too many of them. Establishing value one against the other is impossible. They go up and down in price randomly. I recently watched a new crypto called “Einsteinium” rapidly increase in value. Why? Apparently people liked the name.

All that is happening when people are buying these things is that exchanges are selling them. A small group of people running the exchanges are getting very rich. And they are not even playing fair. You can buy easily on these exchanges, but you cannot easily sell. On some exchanges, you cannot sell at all.

#149 saskatoon on 01.12.18 at 6:58 am

#3 Screwed Canadian Millenial

STOP READING THE STAR.

#150 Coffee or Tea? on 01.12.18 at 7:08 am

According to the gossip rag “The Economist” the tea producers in India are losing money because of high labour costs ($2/day). However, the bigger problem is the kids today.

From “Strange Brew” – (those copycats!) 01/13/2018

“Customers, especially millennials, increasingly lack the patience to make a proper cup of tea, laments Krishan Katyal, the boss of J Thomas. The leaves need at least three minutes to release their complex aromas, beyond an eternity for youngsters these days. Like a master distiller told of a single malt being mixed with Coca-Cola, he winces at the thought of drinkers squeezing their tea bag after merely a few seconds. “That poor thing,” he says. “It never got a chance”.”

#151 Bill C. on 01.12.18 at 7:14 am

#141 Smoking Man on 01.12.18 at 1:25 am

Im calling Sara Huckaby Sanders the first female president on the USA in about 7 years. That my friends is true kick some mental case nuts feminist.

Love her.

*********
Admittedly she is appealing in a Monica kind of way. I just wish she wouldn’t open her mouth.

Maybe keep this one for yourself too, Gerta ;-)

#152 bubeersfoon on 01.12.18 at 7:15 am

Garth

At least Trump didn’t put Canada in the Sh*t h*le countries category with Africa and Haiti

#153 Howard on 01.12.18 at 7:22 am

#288 conan on 01.11.18 at 5:40 pm

#189 Howard on 01.11.18 at 8:03 am

“The Liberals will likely win the next election but it will happen by taking NDP seats in Quebec since Quebeckers are racist. That’s the reality.”

Fair enough. My version of reality shows the Liberals gaining/holding seats in every Provence. You are correct in your assumption that Quebec will donate the most seats to the Liberals. Don’t agree with the racist part. Plenty of Provinces are worse then them in that regard.

——————————————-

Actually no. Precisely zero provinces are worse than them in that regard. In fact none are even close.

https://www.thestar.com/news/canada/2017/10/06/are-canadians-open-to-voting-for-a-turban-wearing-sikh.html

Provincially, the poll found that respondents in Quebec were most averse to the idea of voting for a turban-wearing Sikh. Forty-seven per cent of respondents from Quebec said they would not consider it, compared with 32 per cent in Alberta, 23 per cent in British Columbia and 24 per cent in Ontario.

#154 Gravy Train on 01.12.18 at 7:40 am

#137 NoName on 01.12.18 at 1:08 am
“Interesting read.”
https://slate.com/health-and-science/2018/01/oprah-winfrey-helped-create-our-irrational-pseudoscientific-american-fantasyland.html

The following quote from the article startled me like a thunderclap: “When the New Yorker’s science reporter Michael Specter told Oz he knew of no evidence that reiki works, the doctor agreed—‘if you are talking purely about data.’ For people in his magical-thinking sphere, ‘purely about data’ is a phrase like mainstream and establishment and rational and fact [and truth], meaning elitist, narrow, and blind to the disruptive truths.”

#155 Dobermanduke on 01.12.18 at 7:44 am

#98 LivinLarge on 01.11.18 at 10:02 pm

“Is it moral for the government to prevent me from voluntarily exchanging my labour for less than $15 per hour if that is all that an employer is willing to pay me based on my productivity? What if this means I lose the opportunity to develop skills that will allow me to command an actual living wage in the future?”…now you’te bringing in morality????

If someone wants to kick back some oart of their pay for experience and knowledge then let them do it but on when they choose and without any requirement from an employer…that’s extortion and it happens in a lot of places in the world.

But, how many jobs that require minimum wage are really training you anything of real value that you can carry. Forward and build a career on???? Yea, none.

——————————————————————

A friend of mine got his first job bagging groceries at Loblaw almost 30 years ago. Worked hard, got noticed. He worked his way up and has been General Manager of a RCSS for years.
He tells his story to all new hires but amazingly most are not listening.

#156 Headhunter on 01.12.18 at 7:45 am

Socialism, the equal sharing of misery
You cannot legislate people to prosperity
What the Gov’t gives to one it has taken away from another
Minimum wage goes up 20% goods a services go up 20% it’s a wash… except for the increase in tax revenue
Smokey is correct SCM Paid troll
Have a nice day.. hug someone

#157 maxx on 01.12.18 at 7:53 am

#18 Screwed Canadian Millenial on 01.11.18 at 6:30 pm

“By the way, most of the time when I post, it’s from work or home. Why did it trigger you boomers so much when I post from a McDonalds while drinking my McCafe coffee?”

Oh yeah, I know the place…..that’s the one with the friendly, supersized, automated order stations popping up to replace counter staff.

#158 Andrewt on 01.12.18 at 7:54 am

#91 For those about to flop… on 01.11.18 at 9:26 pm
For those about to flop… on 01.09.18 at 9:20 pm
#66 Brian1 on 01.09.18 at 8:48 pm

Trump held a meeting today which debunks Michael Wolf’s book.Even the left wing media was astounded
with Trump’s performance. What a change.

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

Even a ratbag like myself can behave for one hour ,once a year…

M43BC

&&&&&&&&&&&&&&&&&&&&&&&&

Told Ya!

Less than 48 hours later it emerges that The Orange Octopus labeled several countries “shitholes”…

M43BC

Right on schedule! I think Trump’s record is three days, maybe four. The longer he acts “normal” the bigger the blowout when he cracks. You can set your watch to it.

#159 alex stanford on 01.12.18 at 8:01 am

Do we live in a giant mental institution with the psychiatrists locked and the crazy running wild?

http://www.obj.ca/article/hold-sugar-hold-cream-tim-hortons-dont-be-mean-protesters-chant

#160 Stan Brooks on 01.12.18 at 8:08 am

#31 Penny Henny on 01.11.18 at 6:56 pm

Hey why don’t you, Stan Brooks and SCM all just bugger off. Your whining is absolutely sickening. Don’t like leave! Left already? Then get a life and stay off this blog.

———————————–

You need a pill? The red one or the blue one?

It is your choice.

#161 dharma bum on 01.12.18 at 8:42 am

#12 Screwed Canadian Milennial

Somehow it’s become perfectly acceptable to believe that millions of WORKING PEOPLE should live in poverty so that a select few can get rich and sit on their a$$ all day.
——————————————————————–

Welcome to the world. This is nothing new. Unfortunately, only countries that exploit workers by taking advantage of cheap and/or FREE labour thrive. That is how America, and several other “first world” countriess were built, and are still run.

http://atlantablackstar.com/2013/10/01/nations-that-benefited-the-most-from-enslaving-african-people/

It’s the sad ugly truth. In essence, nothing has changed.
Except now, everyone has cell phones.

#162 the Jaguar on 01.12.18 at 8:47 am

“Right on schedule! I think Trump’s record is three days, maybe four. The longer he acts “normal” the bigger the blowout when he cracks. You can set your watch to it.”

But what you refer to as “normal” is what “professional politicians” represent. He never rehearsed for that role. There weren’t years spent in a political capacity like most. Even George Bush got to rehearse as the Gov of Texas and as the son of a former President. Trump did not take that path. He says what he thinks, very much like someone you might be talking to at a cocktail party or water cooler who might use a reference like “shit hole countries”. He ain’t running for office. He’s in the office. He is the President. Not defending him. But nauseating political correctness and ignoring real problems that require real solutions is just as infuriating. And you can’t beat the entertainment value. To paraphrase Muhammed Ali…”He shook up the world”.

#163 Bhad Bhabie on 01.12.18 at 8:55 am

#159 alex stanford on 01.12.18 at 8:01 am

Do we live in a giant mental institution with the psychiatrists locked and the crazy running wild?

http://www.obj.ca/article/hold-sugar-hold-cream-tim-hortons-dont-be-mean-protesters-chant

***********

you like rimes?

#164 maxx on 01.12.18 at 9:11 am

Minimum wage is a wonderful thing. It taught me in no uncertain terms that I definitely did not want to live in that world for the rest of my life.

No amount of wage increase will “lift” people out of poverty. Nor will stupid low rates. People do that, all by their lonesomes. Getting rich starts with decision and determination.

Working your way to wealth is one of life’s sweetest successes. No amount of whining will ever get you there.

SCM is in the process of proving just that.

#165 The Real Donald Trump on 01.12.18 at 9:14 am

So please tell me that Donald Trump is not a lowlife scumbag racist. His words are plain and simple “just like he is.” The scary part is that his base is behind him 100%. Trump on Thursday rejected a pitch from a bipartisan team of senators on a compromise immigration deal to protect DACA participants while increasing border security.
“Why do we want all these people from ‘shit hole countries’ coming here?”
Trump told senators in the Oval Office. Referring specifically to Haiti and Africa. By the way in case you are uninformed 95% of Haitians are of predominantly African descent. The remaining 5% of the population is primarily mulattoes. The percentage of blacks in Africa is 99.62% that balance being of white, mulatto and middle eastern decent. He then suggested that the United States should instead bring more people in from countries like Norway. Demographics 98.0% white. Jesus Christ is he trying to bread the master race? Lebensborn all over again. This guy is a racist.

#166 Ian on 01.12.18 at 9:25 am

Hot off Bloomberg:

“Returns on two-year US government debt have broken a key psychological barrier, driven past 2 percent for the first time since 2008.”

Up we go!!

#167 Crying Game on 01.12.18 at 9:26 am

Instead of internecine warfare let’s compare Canada to a developed country like Germany, which is wealthy because of what it produces with labour. The salt mines were once big revenue generators but no more.

Can we really compete?

Apprenticeships
DE – business- government collaborations
CAN – grade 12 guidance counsellors

Exports
Beer – Heiniken vs 50
Food – schnitzel vs pork pie
Machinery – advanced machine tools vs ski-doos
Wine – Riesling vs Chateau des Charmes
Vehicles – Mercedes & Audi vs Chrysler & GM
Pharma – Bayer & Merck vs Valeant & Concordia

Politicians – far-sighted thinkers vs near-sighted cs’rs

No wonder we’re broke.

#168 Ronaldo on 01.12.18 at 9:27 am

#124 Chico on 01.11.18 at 11:18 pm

Speaking of working at Timmies…how about a mortgage payment of $213.44, $2250.00 down. Low stress job, no more long commute, and less than five minutes to the beach. Oh, yeah…car insurance is 1/4 of the cost of Calgary or the lower painland, and probably lots of other places around the country.

https://www.realtor.ca/Residential/Single-Family/18973475/72-Cedar-Street-Pictou-Nova-Scotia-B0K1H0-Pictou
——————————————————————
Wow. The cost of materials to build the place would cost more than the selling price. Heck of a deal. I’m moving to Pictou.

NS has great beauty and opportunity. Bot not in Pictou. – Garth

#169 ANON on 01.12.18 at 9:32 am

double the value of K’s flaccid stock […]
[…]Bitcoin has lost 35% of its value in the last couple of months

Money is psychological.

fiat month issued by and backed by governments

Are the promises below issued and backed by governments? Or are the promises made by private entities with no possibility of issuing the compounding IOUs they promised to pay back?:
http://credit.bankofcanada.ca/householdcredit
http://credit.bankofcanada.ca/businesscredit

First the forest, then the trees :)

State-issued currencies are backed by the power to tax. Cryptos are backed by faerie poop and man buns. – Garth

#170 Tony on 01.12.18 at 9:37 am

Re: #134 When Will They Raise Rates? on 01.12.18 at 12:32 am

Bitcoin has to back and fill because of the huge gains made late last year. Then the price will move higher. With Trump hellbent on killing the U.S. dollar for the sake of his precious stock market all of it is good news for the cryptocurrencies.

#171 jess on 01.12.18 at 9:45 am

And i wonder where the profits were booked?

privatized profits /socialized losses

Credit Medical, which loans money to Canadians for cosmetic and bariatric surgeries at private clinics and shares the same director as Slimband, Michael Scot-Smith.

…”The clinic that performed Litt’s surgery, Slimband, no longer offers the procedure. Its former chief surgeon had his licence temporarily suspended by the Ontario College of Physicians and Surgeons last April, following years of complaints from clients.

But the financing company linked to the clinic, Credit Medical, is still busy collecting money from clients like Litt, who took out high-interest loans to pay for the procedure.

Because of the many complications with gastric bands, including erosion, bleeding, slippage and blockages, 2,363 of the devices have had to be surgically removed in public hospitals across Canada, excluding Quebec, since 2010, according to the Canadian Institute for Health Information.

Each removal costs between $3,000 and $14,000, meaning taxpayers are on the hook for up to $33 million…”

http://www.cbc.ca/news/health/gastric-band-surgery-marketplace-1.4479735

from 2012
http://nationalpost.com/news/canada/thick-to-thin-gastric-band-weight-loss-clinic-denies-allegations-of-putting-patients-at-risk

http://nationalpost.com/news/canada/tailor-medical-closes

#172 Ronaldo on 01.12.18 at 9:47 am

#131 Tony on 01.12.18 at 12:24 am

Re: #3 Screwed Canadian Millenial on 01.11.18 at 6:15 pm

From what I’ve seen years ago in Alberta is no one will work any job for under 20 dollars an hour. They will go on welfare instead.
————————————————————–
I can certainly vouch for that Tony. Was there working with my son back in 06 and the manager of one of the Timmies I went to said that they were having difficulty getting anyone to work because there were so many jobs in the oil industry. Some places in the area were paying their staff $15.00 and still not enough. It wasn’t long after that we saw Philipino’s staffing the outlets. They were absolutely excellent. Very polite, very nice people. I believe at that time Tim’s were paying $12.00 which was far above the minimum wage for Alberta. My son himself was paying laborers over $20.00 and these were high school students. The markets adjusted themselves without government interference.

#173 jess on 01.12.18 at 9:51 am

Trump went to great lengths to loudly enunciate the words “radical Islamic terrorism” at his inauguration. Maybe he should have left out the pronoun?

domestic terrorism : “intimidate or coerce a civilian population; to influence the policy of a government by intimidation or coercion; or to affect the conduct of a government by mass destruction, assassination, or kidnapping.”

Justice Department Charges White Supremacist With Domestic Terrorism
Trump’s White House Is Turning a Blind Eye to White-Supremacist Terrorism

Right-wing extremists are behind numerous incidents of domestic terror, but the government has opted to ignore the threat.
By David Neiwert
August 18, 2017

“A database of nine years of domestic terrorism incidents compiled by the Investigative Fund at The Nation Institute and Reveal from the Center for Investigative Reporting”
https://www.thenation.com/article/trumps-white-house-is-turning-a-blind-eye-to-white-supremacist-terrorism/
https://apps.revealnews.org/homegrown-terror/

http://truth-out.org/buzzflash/commentary/very-quietly-justice-dept-charges-white-supremacist-with-domestic-terrorism

=======

Your Ward News editor, publisher charged with promoting hatred against women and Jews, police say
Attorney general’s office says charge of promoting hatred against women a first in Ontario

CBC News Posted: Nov 15, 2017 2:52 PM ET Last Updated: Nov 15, 2017 9:23 PM ET

#174 Victor V on 01.12.18 at 9:51 am

Feature story on BNN’s website today is RBC’s rate hike:

https://www.bnn.ca/rbc-hikes-mortgage-rates-ahead-of-bank-of-canada-rate-decision-1.966188

#175 Ronaldo on 01.12.18 at 9:53 am

#134 When Will They Raise Rates? on 01.12.18 at 12:32 am

Lol at the noobs who are witnessing their first bitcoin dip, calling the demise of bitcoin. Pro tip: this is what bitcoin does.

The reality is that bitcoin will outperform the Dow over the next 365 days – by at least an order of magnitude.

Current bitcoin price: $13,685
Current DOW: 25,574

Bookmarked.
———————————————————–
Bitcoin is old news. Useless as a currency. All hype. There is much better out there right now. The energy used to mine these things is absolutely ridiculous and what makes this thing so crazy. Bitcoin is doomed. Blockchain is the future. That’s where you want to place your bets.

#176 Classical Liberal on 01.12.18 at 9:53 am

My offer still stands, SCM. Let’s exchange FB profiles and have an actual discussion. I still don’t think you believe half the crap you spew.

#177 Ezzy on 01.12.18 at 10:04 am

#36 Screwed Canadian Millenial aka supertroll : try again, my uncle received nothing from his father when he came here from old Europe. Mostly because his father had nothing to begin with due to something called WWII. Despite not receiving money from “dad” or the Gov, he still made it and made it very well. Mostly because of hard work, and dedication. Something you clearly know little about, mostly, I suspect, because you’re either here to troll others (well done), or you’re lazy. My uncle is not an exception, for the most part, in Canada, he’s the rule. Few small business owners receive anything of use from family.

Also, your chosen handle is priceless, a “screwed” Canadian AND Millennial? Seriously, how meta can you be? We are not screwed. There are hundreds of millions of people in this world that would trade places with you in a heartbeat.

#178 TorontoBull on 01.12.18 at 10:04 am

Garth,
SCM is making some really great counterarguments to the general neoliberal thinking going on on this blog. While he/she may come across as confrontational, I find the people who respond to him/her quite more insulting. So please don’t censor.
Re min wage regulation – it has been a long time coming after decades long suppression of labour bargaining powers that has led to poorer and more indebted middle class.

#179 Bhad Bhabie on 01.12.18 at 10:08 am

Mayflower left London
Cap’n says to Bo’sun

fix that broken pole
get us out of this shithole

#180 John of Grant on 01.12.18 at 10:19 am

#63 Screwed Canadian Millenial on 01.11.18 at 8:05 pm
#38 BobC on 01.11.18 at 7:02 pm

Are you really bringing up Seattle?

Employment soared. https://fred.stlouisfed.org/series/SEAT653NA

And unemployment plummeted to 4%. https://fred.stlouisfed.org/series/SEAT653URN

Lol conservatives literally think higher wages and low unemployment is a bad thing.
———————————————

Rising employment doesn’t mean that higher minimum wages didn’t have an impact; employment would have risen faster without the higher minimum wage.

from

https://evans.uw.edu/sites/default/files/NBER%20Working%20Paper.pdf

“we conclude that the second wage increase
to $13 reduced hours worked in low-wage jobs by around 9 percent, while hourly wages in such
jobs increased by around 3 percent. Consequently, total payroll fell for such jobs, implying that
the minimum wage ordinance lowered low-wage employees’ earnings by an average of $125 per
month in 2016.”

#181 alex stanford on 01.12.18 at 10:20 am

State-issued currencies are backed by the power to tax. Cryptos are backed by faerie poop and man buns. – Garth
—————————
Interesting.

There was an article that private bans originated 95 % of the Canadian currency (pretty much all Ms) as credit money – loans.

so who will issue the amount needed to pay the interest on these/compound back?

Is that possible at all?

As for the government it just creates demand for that currency, issued by the private banks.

Otherwise who will use it?

Is the model sustainable?

We shell see.

#182 pebbles on 01.12.18 at 10:43 am

I’m waiting for cryptopets.com Need to sell my Nortel stock first.

#183 Prince Albert ( I'm in the can) on 01.12.18 at 10:52 am

175 Ronaldo on 01.12.18 at 9:53 am
#134 When Will They Raise Rates? ….
Lol at the noobs who are witnessing their first bitcoin dip, calling the demise of bitcoin. Pro tip: this is what bitcoin does

***********
You young beaver trappers ought not fret about the new silk top hat.
Pro Tip: that’s called a fashion fad

#184 conan on 01.12.18 at 10:54 am

#167 Crying Game on 01.12.18 at 9:26 am

Beer – Heiniken vs 50

50 from Quebec is awesome. 50 from rest of Canada is meh. No idea why ROC gets a different beer.

#185 Chico on 01.12.18 at 10:57 am

#168 Ronaldo on 01.12.18 at 9:27 am

#124 Chico on 01.11.18 at 11:18 pm

Speaking of working at Timmies…how about a mortgage payment of $213.44, $2250.00 down. Low stress job, no more long commute, and less than five minutes to the beach. Oh, yeah…car insurance is 1/4 of the cost of Calgary or the lower painland, and probably lots of other places around the country.

https://www.realtor.ca/Residential/Single-Family/18973475/72-Cedar-Street-Pictou-Nova-Scotia-B0K1H0-Pictou
——————————————————————
Wow. The cost of materials to build the place would cost more than the selling price. Heck of a deal. I’m moving to Pictou.

NS has great beauty and opportunity. Bot not in Pictou. – Garth

—————–

The idea was to get people to look around, not make a snap decision. Your use of the term “opportunity” is highly subjective. A person could easily live while in a nice home while working at Timmies. What you consider an opportunity is not what all people would consider an opportunity.

#186 Ronaldo on 01.12.18 at 10:58 am

What a total waste of energy.

https://www.ft.com/content/93b22cb1-0346-38be-bebf-d2e676e19621

#187 Ronaldo on 01.12.18 at 11:01 am

Better link.

http://fortune.com/2018/01/10/bitcoin-miners-electricity-argentina/

#188 Ace Goodheart on 01.12.18 at 11:09 am

Re: #168 Ronaldo on 01.12.18 at 9:27 am
#124 Chico on 01.11.18 at 11:18 pm

Speaking of working at Timmies…how about a mortgage payment of $213.44, $2250.00 down. Low stress job, no more long commute, and less than five minutes to the beach. Oh, yeah…car insurance is 1/4 of the cost of Calgary or the lower painland, and probably lots of other places around the country.

https://www.realtor.ca/Residential/Single-Family/18973475/72-Cedar-Street-Pictou-Nova-Scotia-B0K1H0-Pictou

“Priced low to reflect repair of floor joist”

Sounds ominous. Best to get a structural engineer in there to have a peek before you go plopping down your deposit.

#189 earlybird on 01.12.18 at 11:10 am

Reading BNN today:
The new rules require prospective homebuyers putting 20 per cent or more down on their home to prove they can service their mortgage at an interest rate 200 basis points higher than the posted rate or the Bank of Canada’s five-year rate, whichever is higher.

Posted rate is 5.14%
5 year is 4.99%
So to qualify at RBC the rate would be 7.14%?? Have I interpreted this correctly….holy crap!

#190 fancy_pants on 01.12.18 at 11:11 am

it’s the dot net boom all over again.

and take a good hard look at the type of inflation long overdue for many “1st world” countries. https://news.trust.org/item/20180112035017-q9adf

#191 james on 01.12.18 at 11:11 am

#136 Smoking Man on 01.10.18 at 10:46 pm
Jordan Paterson world tour.
I’m going to LA venue Jan 31

https://jordanbpeterson.com/events/
………………………………………………………………
Why not make it a double and hit your local KKK chapter as well.

To #150 Longterm on 01.10.18 at 11:39 pm Well written sir.

#192 Blacksheep on 01.12.18 at 11:12 am

Real Don #165

“Why do we want all these people from ‘shit hole countries’ coming here?”

“He then suggested that the United States should instead ‘bring more people in from countries like Norway’.”
—————————————
Racist?

Maybe a bit, but its probably more about what a potential immigrant brings to the table, like an education & skills, rather than skin colour….

Besides he’s just saying, what a very large % of the population, likely feels.

Hey, I’m of Norwegian descent (first gen Can.), can I come live in Cali Don? Monterey would work for me.

I will even bring my own $ to insure I’m not a burden on your system : ]

#193 james on 01.12.18 at 11:29 am

#162 the Jaguar on 01.12.18 at 8:47 am

“Right on schedule! I think Trump’s record is three days, maybe four. The longer he acts “normal” the bigger the blowout when he cracks. You can set your watch to it.”

But what you refer to as “normal” is what “professional politicians” represent. He never rehearsed for that role. There weren’t years spent in a political capacity like most. Even George Bush got to rehearse as the Gov of Texas and as the son of a former President. Trump did not take that path. He says what he thinks, very much like someone you might be talking to at a cocktail party or water cooler who might use a reference like “shit hole countries”. He ain’t running for office. He’s in the office. He is the President. Not defending him. But nauseating political correctness and ignoring real problems that require real solutions is just as infuriating. And you can’t beat the entertainment value. To paraphrase Muhammed Ali…”He shook up the world”.
…………………………………………………………………..
So you won’t be upset or take offense if I call it the way I see it then with Donald J Trump?
Seeing that after I’ve had a few Moscow Mules at the party. I would like to call him an insane, pompous, self-absorbed, narcissistic, racist, sleaze-bag, degenerate, illiterate, uninformed, con man. If that doesn’t offend you?

#194 ManitobaWhale on 01.12.18 at 11:34 am

#161 dharma bum on 01.12.18 at 8:42 am
That is how America, and several other “first world” countriess were built, and are still run.
*********

Not arguing or defending any point of view, just a first hand anecdote.
At a seminar a decade or so ago a black man with a wonderful French/Senegalese? accent read my name tag and said out loud as if trying to understand my heritage.

“Oh, he says you must be from a Netherlands (or Dutch) background. Your people took the Black Slaves from Africa all over the world” Man, was I caught off guard, how do you respond to that, this was a training seminar for business, I was not prepared for that comment.

My new colleague laughed at my discomfort and said with the warmest facial expression, “Don’t worry about it. My people abducted the black people from the interior lands and sold them to your people!”.

#195 conan on 01.12.18 at 11:36 am

#178 TorontoBull on 01.12.18 at 10:04 am

More then a handful of posters here that are an acquired taste. First few post readings and I am like WTF? But like new forms of music, it eventually grows on you.

I crank out the argumentative posts myself. Mostly aimed at people who think the Harper Government was good. or, the peeps, who think Trumps is the answer.

We will move forward with dialogue. T2 is right : )

https://www.youtube.com/watch?v=JZ5ofB7axSg

#196 LivinLarge on 01.12.18 at 11:42 am

Ronaldo, ” The markets adjusted themselves without government interference.” are you jumping the gun on the pot laws too????

What you’re sayng paisan, is that Timmies can pay even more than $20 today without and fear of closing down even if not obliged to. Employers will pay the least they can in order to get their jobs done. Minimum wage rules just level the bottom of the playing field. I know of no province in Canad that has ever had “maximum wage”.

#197 MediOgre on 01.12.18 at 11:43 am

I love how everyone warns of scaring off rich people and their ability to go “anywhere”. To that I say OH NOOO! Sarcastically. Go. That’s okay. I think we’ll survive. There’s always someone less rich ready to take your spot. Says this MediOgre

#198 n1tro on 01.12.18 at 12:05 pm

#178 TorontoBull on 01.12.18 at 10:04 am
Garth,
SCM is making some really great counterarguments to the general neoliberal thinking going on on this blog. While he/she may come across as confrontational, I find the people who respond to him/her quite more insulting.
—————-
Let me guess….”first time” poster? “great counterarguments”…you mean the ones blaming immigrants for her screwed state? But that isn’t “insulting” in your eyes right?? Say hi to SCM in the lunch room when you get the chance.

#199 For those about to flop... on 01.12.18 at 12:15 pm

Recent Sale Report.

This house sold 4 days ago.

4329 Maple st,Vancouver.

Originally asking 4.23 then3.99 then 3.89

Just sold for 3.6

Tax assessment 4.52

I see that no realtor wanted to tell me how bad the damage was at 1324 w 58th ave.

Some people are cashing in and others late to the party are losing their shirts.

If you guys are going to keep pumping the product then can’t you at least leave a few new shirts on here occasionally.

I will hand them out…

M43BC

https://www.zolo.ca/vancouver-real-estate/4329-maple-street

#200 Sonny on 01.12.18 at 12:26 pm

Royal Bank, TD raise their fixed 5-year mortgage rates

Other major banks expected to follow, as bond interest rates rise, increasing lending costs

http://www.cbc.ca/news/business/banks-mortgage-rates-1.4484616

#201 Expat on 01.12.18 at 12:31 pm

Keep it up SCM.

Ignore the clowns who oppose a minimum wage increase. They have always opposed them. They did this last time too. They were wrong then and they’re wrong now.

They won’t show evidence of the harm those increases caused in the past. Because they can’t. Because it doesn’t exist.

They have no credibility, and after it is implemented and their doomsday predictions fail, yet again, they’ll fall silent and slink away, just like they always do.

#202 IHCTD9 on 01.12.18 at 12:38 pm

#165 The Real Donald Trump on 01.12.18 at 9:14 am
So please tell me that Donald Trump is not a lowlife scumbag racist. His words are plain and simple “just like he is.” The scary part is that his base is behind him 100%. Trump on Thursday rejected a pitch from a bipartisan team of senators on a compromise immigration deal to protect DACA participants while increasing border security.
“Why do we want all these people from ‘shit hole countries’ coming here?”
Trump told senators in the Oval Office. Referring specifically to Haiti and Africa. By the way in case you are uninformed 95% of Haitians are of predominantly African descent. The remaining 5% of the population is primarily mulattoes. The percentage of blacks in Africa is 99.62% that balance being of white, mulatto and middle eastern decent. He then suggested that the United States should instead bring more people in from countries like Norway. Demographics 98.0% white. Jesus Christ is he trying to bread the master race? Lebensborn all over again. This guy is a racist.
_______________________

I won’t comment on Trumps skin colour preferences, but he simply wants immigrants to bring money and folks to have a reasonable chance of fitting in and getting a job (and pay taxes).

I think you’ve drank some Trudeau Kool-Aid. “Diversity is our strength” is politics for, “Folks from other countries can pay our taxes, increase our GDP, and grow our population”. The only reason we need it, is because Canadians quit having kids in the 70’s, and the effects are now being felt.

You think Canada has loads and loads of East and South Asians by accident? These people bring money and skills, the Indians also bring English and children to boot. Our immigration system is not first come first serve like the US. We have a pretty good crop of newcomers because of this – the USA not so much (they take whoever is next in line). Many immigrants I know tried to get into the USA first – but line was shorter for them in Canada because they had the right ingredients, so they ended up here.

Trump and Trudeau both want the same things from immigration: money, jobs, and children. Trump is essentially saying he wants an immigration system like Canada’s – a discriminatory one.

#203 DON on 01.12.18 at 12:39 pm

#161 dharma bum on 01.12.18 at 8:42 am

#12 Screwed Canadian Milennial

Somehow it’s become perfectly acceptable to believe that millions of WORKING PEOPLE should live in poverty so that a select few can get rich and sit on their a$$ all day.
——————————————————————–

Welcome to the world. This is nothing new. Unfortunately, only countries that exploit workers by taking advantage of cheap and/or FREE labour thrive. That is how America, and several other “first world” countriess were built, and are still run.

http://atlantablackstar.com/2013/10/01/nations-that-benefited-the-most-from-enslaving-african-people/

It’s the sad ugly truth. In essence, nothing has changed.
Except now, everyone has cell phones.
***************

But…but…but…It’s different now.

NOPE: New world meet the old world.

It still amazes me that our youth cannot find the time to research the past.

Every generation believes they are fundamentally different from the rest. Only aging sets you straight.

SCM this is not new, unfortunately history repeats. Hence T2. uhmm…I mean uhmm…well uhmm…I believe uhmm that to be the uhmm case, cause uhmm it wouldn’t be other wise.

How about we unite the voters rather than picking between dumb and dumber or nasty and nastier. I say this in response to your pro-liberal stance.

I don’t believe in political parties – only individuals who prove themselves. Live life brother. Life is the greatest lesson of all.

#204 Candida's Adam Smith on 01.12.18 at 12:42 pm

DELETED

#205 DON on 01.12.18 at 12:46 pm

On the subject of Timmy’s and McD’s – people still eat that crap?

I am opening a new fast food chain…everything will smell and taste like cardboard (wood fill). It’s the only way to compete, quality is a thing of the past…right!

#206 millmech on 01.12.18 at 1:05 pm

#188 earlybird
What is scary is you add another three rate increase of .40% to that and next January the qualifying rate will be 8.59%.

#207 Doug in London on 01.12.18 at 1:06 pm

As I said before, instead of Bitcoin it made more sense to buy what’s been on sale like ENB-T, T-NY, and GE-NY.

#208 YVRMC on 01.12.18 at 1:08 pm

Re # 89…. Holy crapola ! What a ditz, gotta be a hoax…. sadly there probably are millenials out there like that though….

#209 Kelsey on 01.12.18 at 1:14 pm

The problem with arguments from the left is that they propose government interference in the economy and then have something very tangible to point to as a benefit which makes a great sound byte if you don’t think deeper. For example, raising the Minimum Wage means that some employees are now paid more and these people very directly and obviously benefit from a higher Minimum Wage. However, the secondary impact on employees whose hours are scaled back, higher consumer prices, and long-term automation of jobs are very hard to directly identify and quantify. But these things exist and logically should result in a net negative impact which is why less socialistic economies always crush more socialist economies, everything else being equal. And just because the unemployment rate is currently low doesn’t mean that the Minimum Wage is great. Do we know what the unemployment rate would have been without the government interfering in the economy? And what about the Labour Participation rate, maybe that would be much higher than it is today if so many cashier and similar jobs were not being automated away. Or how about the mix of full time vs. part time jobs?

#210 PastThePeak on 01.12.18 at 1:22 pm

#178 TorontoBull on 01.12.18 at 10:04 am

SCM is making some really great counterarguments to the general neoliberal thinking going on on this blog. While he/she may come across as confrontational, I find the people who respond to him/her quite more insulting. So please don’t censor.
Re min wage regulation – it has been a long time coming after decades long suppression of labour bargaining powers that has led to poorer and more indebted middle class.
==================================

Like SCM, you like to think you are smart – but you are not.

“Decades of suppression”? The min wage has been raised 11 times out of the last 14 years (from Jan 2005 to Jan 2018), including the latest jump to $14. Or 10 times out of 13 years if you don’t consider the latest, which is more relevant to the discussion. In this case, it went from $7.45 to $11.60 in those 13 years. An increase of 56% over that time, or a CAGR (if you don’t know what this is, leave now) of 3.46%.

Inflation over this period averaged 1.7% per year. So since 2005 min wage had grown at double the rate of inflation – BEFORE THIS LAST INCREASE.

Now, it doesn’t matter what I say, as you will never acknowledge these facts, but like your hero SCM will spout more drivel about greedy owners.

Don’t want people to be mean – do some research before you vomit up ideology as facts.

#211 Crying Game (ed.) on 01.12.18 at 1:25 pm

#183 conan on 01.12.18 at 10:54 am
#167 Crying Game on 01.12.18 at 9:26 am
Beer – Heiniken vs 50

50 from Quebec is awesome. 50 from rest of Canada is meh. No idea why ROC gets a different beer.
*********
Remboursement from the Separatist’s ?
While I’m here ….

#202 DON on 01.12.18 at 12:39 pm
Welcome to the world. This is nothing new. Unfortunately, only countries that exploit workers by taking advantage of cheap and/or FREE labour thrive.
***********
Nein! Against all odds, Germany is still thriving after introducing a minimum wage. Read all about it:
https://www.citylab.com/equity/2017/07/minimum-wages-do-more-than-boost-workers-income/533568/

#212 Rational Optimist on 01.12.18 at 1:27 pm

167 Crying Game on 01.12.18 at 9:26 am

“Instead of internecine warfare let’s compare Canada to a developed country like Germany…

…Heiniken vs 50”

Heineken is Dutch, and 50 is pretty good. But I agree with the sentiment of your comment.

#213 james on 01.12.18 at 1:38 pm

Smoking Mans Ghost
‏ @SmokingMan
12h12 hours ago

#shitholecountries under trudeau Canada is a shit Hole country
……………………………………………………
Just had to look on your twit moniker.
So we all live in a shit hole country Smoking Man. Please do not ever come back here you are not welcome. Please renounce your citizenship now and keep your racist ideology in the USA with your racist president that you love so much.
I cant stand uneducated ass holes like you.

#214 bYebYe on 01.12.18 at 1:40 pm

@Screwed Canadian Millenial

Wow, are you ever a bitter soul. Sounds like you squandered your chance at a better life. Quit blaming everybody else.

#215 Smoking Man on 01.12.18 at 1:40 pm

#190 james on 01.12.18 at 11:11 am
#136 Smoking Man on 01.10.18 at 10:46 pm
Jordan Paterson world tour.
I’m going to LA venue Jan 31

https://jordanbpeterson.com/events/
………………………………………………………………
Why not make it a double and hit your local KKK chapter as well.
…….

KKK In California? you are an idiot.
I love everyone.

But I do loath the power of the lesbonic cult that’s taken over the education system and are making mental cases of our children.

#216 Ian on 01.12.18 at 1:41 pm

#142 Newcomer

“Mark follows a school of economics that has only one member”

THAT was beautiful. Made my whole day!

XGD on fire!!! Go gold!!

Happy pre-BoC meeting weekend everyone!

Millmech is right on the money. Can’t wait to hear the mortgage renewal stories in 2H of this year. Send lawyers, guns, and money, GTA real estate has hit the fan!

#217 Ian on 01.12.18 at 1:43 pm

I am planning on reading “Fire and Fury” this weekend. Should be interesting.

#218 Cheekm on 01.12.18 at 1:49 pm

“Bitcoin has lost 35% of its value in the last couple of months”

Two months ago Bitcoin was worth $6,000 & 100bil market cap.

Today it’s hovering around 13K and 200bil.

Nobody should own Bitcoin. – Garth

#219 Screwed Canadian Millenial on 01.12.18 at 1:52 pm

Trump wants fewer immigrants from “shithole countries” and more from places like Norway
https://www.vox.com/2018/1/11/16880750/trump-immigrants-shithole-countries-norway

I didn’t even know you could say “shithole” on television lol. Apparently they’ve been saying it non stop on CNN.

Bad news for Trumpy.

More Americans Move to Norway Than the Other Way Around
https://www.bloomberg.com/news/articles/2018-01-12/more-americans-move-to-norway-than-the-other-way-around

#220 Smartalox on 01.12.18 at 1:58 pm

Flop!

Keep posting those pinkies!

It looks like Vancouver’s West Side is on fire, because those are Fire Sale prices!

Seriously: from what you’re posting:
– if a Vancouver Westside buyer pays more than 20% BELOW the latest assessment, for a detached home, then they’re paying too much.
– houses that are selling at 20% below assessment are selling at discounts 30% to 35% below (initial) ask.

Fascinating that assessments for 2018 were lower than 2016 and 2017. That means that houses purchased in the later half of 2017 may have ALWAYS been under water.

Forget the pink snow, I suspect that this spring, the gutters will run RED!

#221 TorontoBull on 01.12.18 at 2:03 pm

@197
“Let me guess….”first time” poster? “great counterarguments”…you mean the ones blaming immigrants for her screwed state? But that isn’t “insulting” in your eyes right?? Say hi to SCM in the lunch room when you get the chance.”
not a 1st time poster but your comment illustrates the vile nature of many commentators.
Re immigration – (Full disclosure: I am an immigrant who came to this great country 20 years ago): it has a lot of benefits for Canada but there are costs too. Wente @ the Globe had a great article about how elevated levels of immigration contribute to increased income inequality. it does increase GDP but compare GDP per capita in Toronto vs Calgary for example, and then look at % of immigrants

#222 TorontoBull on 01.12.18 at 2:16 pm

#209
look at unionisation rates Einstein

#223 Crying Game on 01.12.18 at 2:17 pm

#211 Rational Optimist on 01.12.18 at 1:27 pm
167 Crying Game on 01.12.18 at 9:26 am

…Heiniken vs 50”

Heineken is Dutch, and 50 is pretty good. But I agree with the sentiment of your comment.
********
Thanks for the correction. Wouldn’t want to post erroneous data here. Those Dutch have their fingers in everything!

#224 Stan Brooks on 01.12.18 at 2:29 pm

They hook you up on cheap credit.

Now you pay.

https://ca.finance.yahoo.com/news/rbc-raises-mortgage-rates-experts-165400805.html

#225 NoName on 01.12.18 at 2:31 pm

#150 Coffee or Tea? on 01.12.18 at 7:08 am
According to the gossip rag “The Economist” the tea producers in India are losing money because of high labour costs ($2/day). However, the bigger problem is the kids today.
From “Strange Brew” – (those copycats!) 01/13/2018
“Customers, especially millennials, increasingly lack the patience to make a proper cup of tea, laments Krishan Katyal, the boss of J Thomas. The leaves need at least three minutes to release their complex aromas, beyond an eternity for youngsters these days. Like a master distiller told of a single malt being mixed with Coca-Cola, he winces at the thought of drinkers squeezing their tea bag after merely a few seconds. “That poor thing,” he says. “It never got a chance”.”

Hey Coffee and Tea, funny thing that you mention tea bags and patience together… Some thing is happening I’m my house, wife and my doter, made a “understanding” to save tea bags after my doter makes her tea and do exactly that what that dude sad.

But you also mentioned single malt, some years back I was doing steady graveyard shift and I came across article about whiskey/whisky booming sales and what marketing strategies brands are using for different countries and continents. It was very interesting article to read, maybe, i posted a link here but i am not 100% sure, memory and mind left some time ago.

but here is more recent article regarding single malts, also interesting… it would not suprize me to se whiskey/whisky bubble in making. made scarecity is key word here. sea it for yourself here below.

https://www.thedailybeast.com/18-year-old-scotch-for-2018?ref=wrap

#226 Deplorable Dude on 01.12.18 at 2:43 pm

DELETED

#227 Penny Henny on 01.12.18 at 2:44 pm

Great Read.
“This year will prove whether the “new normal” view will prevail, or whether significant tax and regulatory reform will unleash a new wave of growth. My money is on faster growth and higher interest rates. Faster growth will be very welcome, but higher interest rates will hurt, and they could very well keep future equity gains at modest levels (by putting downward pressure on PE ratios) even as the economy improves. So even though the economy looks set to surprise on the upside, it doesn’t necessarily follow that equity valuation will also surprise on the upside.”

http://scottgrannis.blogspot.ca/2018/01/worrying-about-rising-confidence.html

#228 Rooster on 01.12.18 at 2:44 pm

Valeant has just announced a cure for Binance. (I had to look it up to see if it was real. It is!)

The new drug is a lethal combination of Diacetylmorphine (heroin) and Rohypnol.

The new drug is called Diarohypnomomoney™

#229 bitcoin on 01.12.18 at 2:45 pm

“Bitcoin has lost 35% of its value in the last couple of months”

Two months ago Bitcoin was worth $6,000 & 100bil market cap.

Today it’s hovering around 13K and 200bil.

Nobody should own Bitcoin. – Garth

………….

it was also at $500…then $1000…then $5000

was it a bad buy at $500?

:)

‘be neither fearful nor greedy’

It is gambling, not investing. In time you will learn the difference. – Garth

#230 Ian on 01.12.18 at 2:45 pm

USD index (UUP) at lowest level since late 2014. Absolutely off a cliff today!! Kablooey

#231 Victor V on 01.12.18 at 2:49 pm

https://www.bnn.ca/bank-of-canada-risks-delivering-a-shock-if-it-holds-on-rates-1.966410

The Bank of Canada is widely expected to pull the trigger on a 25 basis point rate increase at its January meeting, the third hike in less than a year as the underlying economy shows continued signs of strength.

The implied probability of a hike stood at more than 86 per cent Friday morning. A string of recent positive economic data points have goosed expectations Stephen Poloz would go further than just reversing the pair of emergency cuts in the wake of the cataclysmic oil price fall in 2015 and begin normalizing rates.

While the market-implied probability suggests an increase at Wednesday’s meeting is essentially a slam dunk, BMO Chief Economist Doug Porter is warning investors shouldn’t take anything for granted.

While Porter believes the bank will almost certainly increase rates to 1.25 per cent he said the central bank doesn’t owe the markets anything.

“I don’t believe the Bank is beholden to the market (and certainly not economists’ projections), and this Bank has shown many times it is willing to surprise,” Porter told BNN in an email. “Having said that, market expectations are a consideration for the Bank; but the sense is that provided there is at least a moderate market opinion in one direction, the Bank is willing to move that way … while they don’t mind surprising the market, they don’t want to shock it.”

#232 Zapstrap on 01.12.18 at 2:53 pm

Thanks Flop … I’ll give them a call.

#233 Guy in Calgary on 01.12.18 at 2:53 pm

“Reading BNN today:
The new rules require prospective homebuyers putting 20 per cent or more down on their home to prove they can service their mortgage at an interest rate 200 basis points higher than the posted rate or the Bank of Canada’s five-year rate, whichever is higher.

Posted rate is 5.14%
5 year is 4.99%
So to qualify at RBC the rate would be 7.14%?? Have I interpreted this correctly….holy crap!”

No, they qualify at 5.14%

Nope. They qualify at the BoC benchmark rate or the offered bank rate plus 2%, whichever is greater. – Garth

#234 Overheardyou on 01.12.18 at 3:04 pm

#44 Yorkville Renter on 01.11.18 at 7:29 pm
Congrats SCM…

you have now joined Mark as “Posts that YR skips”.

take a bow, you earned it!

—–

If only there was a comment filter option, I’d filter out all SCM’s responses as they are simply spam at this point.

#235 Checkbox on 01.12.18 at 3:15 pm


If only there was a comment filter option, I’d filter out all SCM’s responses as they are simply spam at this point.

I would like a checkbox to filter Smoking Man on this website.

[X] Disable all comments from Smoking Man.

SCM may have different values, principles and ideas than you, but at least he is able to write some coherent sentences that the reader can follow. Unlike someone else.

Also, SCM is too valuable for this site: everything he posts solicits backlash from old people. Without SCM, the comments would get half the attention it gets now.

#236 InvestorsFriend on 01.12.18 at 3:16 pm

Stock Market Predictions and Behavior

Remember the last huge bottom in stocks? The lowest day for the S&P 500 was March 6, 2009.

The S&P 500 bottomed at 667 that day and closed at 683. The low close was March 9 at 677.

Garth’s blog predicted that while the bottom might not be in, the future was bright, stocks would surpass the 2007 highs.

Some of those commenting said the gain that was already happening by March 10 was a dead cat bounce.

Doomers gotta doom.

The S&P 500 is now at 2783 having more than quadrupled from the March 2009 lows.

Of course doomers will say it was only the FED and debt and money printing that rescued the market. Whatever.

The point is bear markets don’t go on forever and neither do bull markets.

And listening to the rabble can always be dangerous to your financial health.

Take a look at some March 10, 2009 comments and see:

http://www.greaterfool.ca/2009/03/10/and-now-the-news-2/#comments

#237 For those about to flop... on 01.12.18 at 3:17 pm

Pink. Snow falling in Surrey.

Here is a more affordable option that I have featured a couple of times still struggling.

They had it off the market for a few days and so I checked in to see if it was sold ,but all they did is take another 11k off and put it back up all shiny and new.

This practice in my opinion should be banned.

The selling price history should be free from manipulation,if the seller wants to play games then fair enough,but it should be there for all to see.

I will detail this one for them.

Originally asking 948 then 918 then 899 ,now asking 888k

Staring a loss in the face after massively overpaying at 897k

2016 assessment 662k

2017 assessment 781k

And so the 2017 assessment came up to bridge the gap a little ,but the Fraser River still runs through it…

M43BC

16 16261 23a Avenue, Surrey paid 897 ass662 TOWN HOUSE was asking 899 now 888

Jul 8:$948,000
Oct 8: $918,000
Change: – 30000.00 -3%

https://www.zolo.ca/surrey-real-estate/16261-23a-avenue/16

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

#238 Coffee or Tea? on 01.12.18 at 3:17 pm

#224 NoName on 01.12.18 at 2:31 pm
#150 Coffee or Tea? on 01.12.18 at 7:08 am

but here is more recent article regarding single malts, also interesting… it would not suprize me to se whiskey/whisky bubble in making. made scarecity is key word here. sea it for yourself here below.

https://www.thedailybeast.com/18-year-old-scotch-for-2018?ref=wrap
———–
Thanks for the link. I used to consider myself a connasewer, but the deliciously peaty Laphroaig got a wee bit pricey. I asked a Scotsman to recommend an alternative. He said he had no idea, Scots only drink blended Scotch. And it’s not cuz they’re cheap.

#239 Fred on 01.12.18 at 3:28 pm

It’s funny. Corporate earnings are going through the roof, and the average Canadian can not afford food at a small family restaurant that makes quality meals from scratch. The average Canadian can only afford food with 22 chemical additives from big corporations. And sickness and disease is going through the roof as this country’s population ages.

#240 Screwed Canadian Millenial on 01.12.18 at 3:30 pm

#233 Overheardyou on 01.12.18 at 3:04 pm
If only there was a comment filter option, I’d filter out all SCM’s responses as they are simply spam at this point.

———–

No you just don’t like your views and rigid ideology being challenged by facts and data. Stop crying for a safe space, quite frankly it’s pathetic.

#241 IHCTD9 on 01.12.18 at 3:32 pm

#187 Ace Goodheart on 01.12.18 at 11:09 am
Re: #168 Ronaldo on 01.12.18 at 9:27 am
#124 Chico on 01.11.18 at 11:18 pm

Speaking of working at Timmies…how about a mortgage payment of $213.44, $2250.00 down. Low stress job, no more long commute, and less than five minutes to the beach. Oh, yeah…car insurance is 1/4 of the cost of Calgary or the lower painland, and probably lots of other places around the country.

https://www.realtor.ca/Residential/Single-Family/18973475/72-Cedar-Street-Pictou-Nova-Scotia-B0K1H0-Pictou

“Priced low to reflect repair of floor joist”

Sounds ominous. Best to get a structural engineer in there to have a peek before you go plopping down your deposit.
————————

Wow, I paid a higher monthly for just a room circa 2003. I’ll bet the Realtor meant to say “beam” instead of “joist” – just couldn’t think of the right terminology at the time :)

I’d go have a look, beat them down on the price, and have that beam/joist fixed in a weekend – provided the problem is on the main floor and there’s a cellar or crawl space underneath.

I bought my place dirt cheap because the roof line on the original summer kitchen looked like a hammock. Carpenter ants turned the East outer floor timber into sawdust. The wall and roof had followed it down. It was not worth fixing. I bought the place in June, and by November of the same year I had torn the sc down and had a brand new one standing there. Total cost was ~8K because the only labour I paid for was 2 hrs backhoe time.

Imagine a couple working at Timmies at 15.00/hr in NS, buying that house. Get out your shades, you’re doing all right…

#242 IHCTD9 on 01.12.18 at 3:34 pm

#239 Screwed Canadian Millenial on 01.12.18 at 3:30 pm
#233 Overheardyou on 01.12.18 at 3:04 pm
If only there was a comment filter option, I’d filter out all SCM’s responses as they are simply spam at this point.

———–

No you just don’t like your views and rigid ideology being challenged by facts and data. Stop crying for a safe space, quite frankly it’s pathetic

—————-

Speaking of rigid ideology and pathetic…

#243 LivinLarge on 01.12.18 at 3:43 pm

Past the Peak, your numbers are nominally correct but still miss a couple of salient points. Comparing CAGR to Inflation while seemingly logical, it is an erroneous methodology. Inflation as you are employing it is Seasonally Ajdusted CPI. And CPI is generally lagging behind real inflation by a factor of about 50% and is simply a basket of consumer products. So comparing minimum wage growth to CPI doesn’t deliver a meaningful comparison to the real cost of living…by a long shot. Add in the cost inflation in utilities, housing and fuel during the same period then you can see that minimum wage rates have NOT even kept pace with the real cost of living.

“Heineken is Dutch, and 50 is pretty good. But I agree with the sentiment of your comment.”…I’ll go along with that too. I grew up almost in sight of the Quebec border and started drinking 50 in 1974 and loved it. Then I moved to WO and the stuff was indeed “meh”. I don’t know why I never made the geographic connection before.

Fearless Leader, I’m surprised you let “lesbonic cult” slip by.

#244 Mexican Standoff on 01.12.18 at 3:51 pm

They said the next war would be fought over water. Instead they are fighting over who has the “foulest shithole”. Vincente Fox.
Ay-ay-ay

#245 PastThePeak on 01.12.18 at 4:05 pm

#221 TorontoBull

look at unionisation rates Einstein
======================

The discussion, and your comment, was about minimum wage, dipsh*t

#246 Blacksheep on 01.12.18 at 4:07 pm

Shawn # 235,

“The S&P 500 is now at 2783 having more than quadrupled from the March 2009 lows.”

“Of course doomers will say it was only the FED and debt and money printing that rescued the market. Whatever.”
—————————————-
I could care less what the market does (beyond my customers perceptions of negativity, reducing potential spending) but didn’t charts showing QE and the Index run up, very closely track each other, displaying a very hard to deny, correlation?

That’s not being negative, just observant….

#247 KLNR on 01.12.18 at 4:08 pm

@#234 Checkbox on 01.12.18 at 3:15 pm

Couldn’t agree more. I don’t mind SCM’s point of view, nothing is as black and white as some on here might think.

don’t worry about smokingman, its just satire on his part

#248 james on 01.12.18 at 4:08 pm

#214 Smoking Man on 01.12.18 at 1:40 pm

#190 james on 01.12.18 at 11:11 am
#136 Smoking Man on 01.10.18 at 10:46 pm
Jordan Paterson world tour.
I’m going to LA venue Jan 31

https://jordanbpeterson.com/events/
………………………………………………………………
Why not make it a double and hit your local KKK chapter as well.
…….
KKK In California? you are an idiot.
I love everyone.
But I do loath the power of the lesbonic cult that’s taken over the education system and are making mental cases of our children.
……………………………………………………………..
No you don’t love everyone if you support Donald Trump. Believe me the racism runs deep even in California. I guess you don’t like lesbians now that your making a slur on them? OMG you have children? Hope the pass-down on the genes improved from you.

#249 Ronaldo on 01.12.18 at 4:12 pm

#240 IHCTD9 on 01.12.18 at 3:32 pm

Isn’t it nice to have those skills IH? I would do the same thing.

#250 Screwed Canadian Millenial on 01.12.18 at 4:37 pm

#242 LivinLarge on 01.12.18 at 3:43 pm
Fearless Leader, I’m surprised you let “lesbonic cult” slip by.

—————–

I’m the last one to get all SJW but it does appear that a lot of misogyny gets through in the comments.

How ironic that it might be this blog that finally turns me into a SJW after all.

Imagine how paranoid Smokey must be to think there is a cult of lesbians out there trying to ruin his life. LOL

#251 Giver-AB on 01.12.18 at 4:38 pm

#209 PastThePeak
Like SCM, you like to think you are smart – but you are not.

“Decades of suppression”? The min wage has been raised 11 times out of the last 14 years (from Jan 2005 to Jan 2018), including the latest jump to $14. Or 10 times out of 13 years if you don’t consider the latest, which is more relevant to the discussion. In this case, it went from $7.45 to $11.60 in those 13 years. An increase of 56% over that time, or a CAGR (if you don’t know what this is, leave now) of 3.46%.

Inflation over this period averaged 1.7% per year. So since 2005 min wage had grown at double the rate of inflation – BEFORE THIS LAST INCREASE.

Now, it doesn’t matter what I say, as you will never acknowledge these facts, but like your hero SCM will spout more drivel about greedy owners.

Don’t want people to be mean – do some research before you vomit up ideology as facts.

—————————————————————–
With all due respect, you are cherry picking your data a bit.

In the previous decade in ON from 1995 to 2005, min wage went from $6.85 in Jan 1995 to $7.45 in Feb 2005. That’s a CAGR of 0.84% over a decade where inflation averaged 2.02%.

If you look at both decades together, it doesn’t quite paint the rosy picture you’re suggesting.

sources:
Min wage: http://srv116.services.gc.ca/dimt-wid/sm-mw/rpt2.aspx
Inflation data: http://www.inflation.eu/inflation-rates/canada/historic-inflation/cpi-inflation-canada.aspx

#252 millmech on 01.12.18 at 4:41 pm

Wow, the difference between qualifying($2200/mth) at 2.5%($500,000) and the new 7.5%(300,000) is quite steep.

#253 Giver-AB on 01.12.18 at 4:42 pm

#209 PastThePeak
Like SCM, you like to think you are smart – but you are not.

“Decades of suppression”? The min wage has been raised 11 times out of the last 14 years (from Jan 2005 to Jan 2018), including the latest jump to $14. Or 10 times out of 13 years if you don’t consider the latest, which is more relevant to the discussion. In this case, it went from $7.45 to $11.60 in those 13 years. An increase of 56% over that time, or a CAGR (if you don’t know what this is, leave now) of 3.46%.

Inflation over this period averaged 1.7% per year. So since 2005 min wage had grown at double the rate of inflation – BEFORE THIS LAST INCREASE.

Now, it doesn’t matter what I say, as you will never acknowledge these facts, but like your hero SCM will spout more drivel about greedy owners.

Don’t want people to be mean – do some research before you vomit up ideology as facts.

—————————————————————–
With all due respect, you are cherry picking your data a bit.

In the previous decade in ON from 1995 to 2005, min wage went from $6.85 in Jan 1995 to $7.45 in Feb 2005. That’s a CAGR of 0.84% over a decade where inflation averaged 2.02%.

If you look at both decades together, it doesn’t quite paint the rosy picture you’re suggesting.

sources:
Min wage: http://srv116.services.gc.ca/dimt-wid/sm-mw/rpt2.aspx
Inflation data: http://www.inflation.eu/inflation-rates/canada/historic-inflation/cpi-inflation-canada.aspx

#254 Ace Goodheart on 01.12.18 at 4:44 pm

RE: 214 Smoking Man:

“But I do loath the power of the lesbonic cult that’s taken over the education system and are making mental cases of our children.”

This is not appropriate and should be deleted I think. It is basically hate speech against an identified group.

#255 PastThePeak on 01.12.18 at 4:46 pm

#242 LivinLarge on 01.12.18 at 3:43 pm

Past the Peak, your numbers are nominally correct but still miss a couple of salient points. Comparing CAGR to Inflation while seemingly logical, it is an erroneous methodology. Inflation as you are employing it is Seasonally Ajdusted CPI. And CPI is generally lagging behind real inflation by a factor of about 50% and is simply a basket of consumer products. So comparing minimum wage growth to CPI doesn’t deliver a meaningful comparison to the real cost of living…by a long shot. Add in the cost inflation in utilities, housing and fuel during the same period then you can see that minimum wage rates have NOT even kept pace with the real cost of living.
====================================

I tend to agree that the “official” CPI numbers don’t seem to reflect what I (and everyone I know) experiences. However, they are the numbers which all analysis seems to use. They are what the govts of all levels use. We might think (and truly believe) they understate costs of living, but what else are we to use?

We do want to stick to “facts” as much as possible.

#256 nah on 01.12.18 at 4:55 pm

It is gambling, not investing. In time you will learn the difference. – Garth
………………….

you need to educate yourself on crypos. New tech is often confronted with angst, just as the internet was. Especially from older chaps, :). Cryptos/blockchain are here for good. Sorry. Take the time to understand some of its outstanding potential uses

google(Alphabet)…was a ‘gamble’ too…….:)

The Internet was here for good in 1999 when dot-com investors had their asses handed to them. It has nothing to do with age. But something to do with experience. Garth

#257 Screwed Canadian Millenial on 01.12.18 at 5:08 pm

#252 Ace Goodheart on 01.12.18 at 4:44 pm
This is not appropriate and should be deleted I think. It is basically hate speech against an identified group.

Agreed.

#258 For those about to flop... on 01.12.18 at 5:15 pm

#252 Ace Goodheart on 01.12.18 at 4:44 pm
RE: 214 Smoking Man:

“But I do loath the power of the lesbonic cult that’s taken over the education system and are making mental cases of our children.”

This is not appropriate and should be deleted I think. It is basically hate speech against an identified group.

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

I don’t bother interacting with the guy anymore.

My wife is a special needs school teacher and goes to work every day to try and help her students make the best out of each day and attempt to give them the best chance at a decent education.

Indirectly he has called her all sorts of things like a lesbian and a bitch.

He once even wrote ” All women are bitches” and I was the only guy on here to stick up for my wife and the women on the blog.

Disrespectful to say the least…

M43BC

#259 NoName on 01.12.18 at 5:22 pm

#237 Coffee or Tea? on 01.12.18 at 3:17 pm

Thanks for the link. I used to consider myself a connasewer, but the deliciously peaty Laphroaig got a wee bit pricey. I asked a Scotsman to recommend an alternative. He said he had no idea, Scots only drink blended Scotch. And it’s not cuz they’re cheap.

Than I have perfekt Canadian made blend for you, it makes my canadian as f*ck, eh, black rifle coffee way better. Only small problem as of lately since gov. made folding knives iligal (Jan 5-ish 2017), including swiss army knife, especially one with tootpicks. (I am.not making this things up) now i use my toots to open coffee packages. But I guess safety is never one priority, when everyone is stoned. I am wondering how long corks and screw caps will last, choking hazard…

Coffee
Dv8FWhxRFb0Iuo_K6t25bZGBoCRgcQAvD_BwE
Canadian made blend
http://www.lcbo.com/lcbo/product/kavi-reserve-coffee-blended-canadian-whisky/497891#.Wlk0yzOvD3A

Cheers

#260 NoName on 01.12.18 at 5:23 pm

Coffee link
https://www.blackriflecoffee.ca/collections/coffee

#261 Blacksheep on 01.12.18 at 5:24 pm

BS # 245,

Couldn’t….I actually, couldn’t care less.

Sheesh, some days…

#262 TorontoBull on 01.12.18 at 5:31 pm

@244
Please reread the comment sweatheart:
“Re min wage regulation – it has been a long time coming after decades long suppression of labour bargaining powers that has led to poorer and more indebted middle class.”
suppression of bargaining power…capiche?
raising min wage will affect other contracts as there will be a chain reaction.
Does that make sense or are you way past the peak to understand the relationship and the reason that gvmts everywhere are increasing min wage is because they are acting in lieu of the missing unions.
You know, after the failed “the tide raises all boats” experiment?

#263 crowdedelevatorfartz on 01.12.18 at 5:49 pm

@Ace.
The truth is hate speech?

#264 conan on 01.12.18 at 5:49 pm

They are not lesbians Smoking Man. That’s the ” don’t ask me for a date look.”

Somebody has to be that guy.

#265 KLNR on 01.12.18 at 5:50 pm

@#256 For those about to flop… on 01.12.18 at 5:15 pm

To true. theres an unfortunately large amount of woman haters posting on here. really sad people.

#266 Russ on 01.12.18 at 6:15 pm

My observation is that the only group of people who cannot organize as an exclusive unit, in our modern age, is AWM (average white male).

Of course that is fair.

#267 LivinLarge on 01.12.18 at 6:47 pm


I tend to agree that the “official” CPI numbers don’t seem to reflect what I (and everyone I know) experiences. However, they are the numbers which all analysis seems to use. They are what the govts of all levels use. We might think (and truly believe) they understate costs of living, but what else are we to use?

We do want to stick to “facts” as much as possible.”…don’t get me totally wrong. CPI is what it is…an index of a representative basket of commonly purchased hard consumer products and that’s all. But since it doesn’t even consider soft consumer services, it isn’t an index of actual cost of living inflation, it isn’t realistic to compare CAGR of minimum wage inflation…apples and oranges.

Since real cost of living inflation is always higher then CPI and extremely difficult to accurately quantify for government services purposes, they use CPI.

So, minimum wage inflation can’t, with any real value, be evaluated against CPI.

#268 Craig on 01.12.18 at 9:49 pm

Re HOWARD #147

So post #104 insults our country by saying that Canada is a s***hole and were not welcome in the USA and I’m not allowd to point out that the United States has it’s problems as well ? The #104 post was ignorant and deserves a stern response .

#269 westcdn on 01.13.18 at 8:34 am

Jeese, Louise – lay off on SCM. Getting hit in the face by a 2×4 hurts so why am I defending SCM? I see a person with backbone and attitude – things I respect (and there are many other authors I pay attention). The “Fire and Fury” rings with me. I have often been wrong but I will stand with this one – don’t shoot the messenger. We will see what she (or he) can bring to the table.

Me and Wall Street – I fight hard. I want to die rich so I will do things to win. Being a pirate is over the top but I not be a victim. The “Wolf of Wall Street” is an interesting read – I gird myself for war.
http://www.ancient-origins.net/ancient-places/port-royal-and-real-pirates-caribbean-001740

My parents grew up in Saskatchewan during the 30’s. They had stories to tell me and I am a sponge. I swear I will not link a picture again of the era. If I was the husband, you can be sure I felt worse.
https://www.bing.com/images/search?view=detailV2&ccid=JVIoe5ov&id=B3ECF0EF1265E95970F927BC0D4F22FB563F374B&thid=OIP.JVIoe5ov2-UIOYOexK2mxQHaJn&q=woman+in+the+thirties&simid=607993618220189697&selectedIndex=169&ajaxhist=0

#270 FLHTK on 01.13.18 at 1:41 pm

Love your 2 rules! my 2 rules are number 1- don’t lose money! and number 2- don’t forget rule 1