Buttcoin

Pray for the moisters.

We now know one in five people who bought Bitcoins, the non-currency and digital sinkhole, did so on their credit cards. On Friday all major US card companies cut off crypto purchases. Simple reason – they think they won’t get paid back. Fair bet. Expect Canadian banks to do the same shortly.

This has helped propel Bitcoin from $20,000 US a pop down to $8,000 (it might be lower by the time I finish this sentence). ‘Investors’ who bought before Christmas, then came to this paleo, analog, 8-track, Cialis-addled site to tell us $100,000 was around the corner, have lost 60% of their cash. Now we know a fifth of them (at least) borrowed their entire investment. People who bought one coin in December for, say $15,000, have lost $7,000, still owe fifteen grand and are paying 19% on it. Isn’t leverage fun?

As stated before, it’s not different this time. Bitcoin, Ripple, Tether, Ethereum,. cryptos, blockchain – regardless of the life-altering aspects of non-fiat money and the technology behind it – are all destined to fail. Goldman now says the target is zero. We said it three months ago.

This is a lesson gambling vs investing. Bitcoin isn’t money, only a speculative play with zip backing it. Millions of newbies blew billions (much of it borrowed) chasing a speculative security because (a) it only went up, (b) gains were tax-free (they thought) and (c) BTC was cool, new, and, like, the future. People had similar thoughts in 1999, too, when the tech bubble was inflated with a rush into dot-com stocks. Even though the Internet clearly was the future, investors were handed their asses for speculating on companies with no profits and CEOs perched on skateboards. Being cool didn’t cut it.

So, Bitcoin and Wall Street melted down somewhat in tandem this past week. Similarities?

Nope. None. Equities have value when the companies underlying them are making money. These days they’re raking it in. Corporate profits are rising at near double-digit levels, even before the big US business tax cut comes into effect, swelling bottom lines. You can thank sustained growth in the US and a global economy on its way to 4% expansion this year – a dramatic recovery from five years ago. Commodity values are surging ahead as a result. So are wages. And inflation. And interest rates.

That’s why stock markets gained 25% last year. But Bitcoin exploded for a single reason – retail demand, from uneducated investors who thought it was out there plus an easy way to get rich without working. In fairness, stocks get ahead of themselves, too. The trip up was too fast, too far. A correction was overdue, and required to prevent a bigger mash-up later.

Over the last week equities were pummeled and gave up 10% of their value before stabilizing. The immediate reasons were rising rates and salaries which reduce corporate earnings, plus surging bond yields posing competition to stocks (since investors can earn without risk there). The p/e of equities (that’s the price of a stock expressed as a ratio of its profits) has come back in line with historic norms in the last few days, so it looks like green arrows ahead. Until the next correction.

Bitcoin and other cryptos, in contrast, will crash instead of correcting.

There is no underlying security or storehouse of value. No government’s power to tax supports them. The major exchanges where people buy and sell are shadowy, largely unregulated and laden with risk. The mechanism to get out can be cumbersome, and already the exits have become clogged. Losses to individual investors are gigantic – and cannot be claimed against income or capital gains. Even the scandalous credit card interest to finance the Bitcoin joyride ain’t tax-deductible. Sticking it to the Man comes with a stiff price, apparently.

If you want to recklessly invest in the future, buy into a 46-year-old guy with a mother from Regina who just hurled a convertible into orbit around the sun. He may blow up, too. But the world gains. And he’s funny.

247 comments ↓

#1 For those about to flop... on 02.07.18 at 5:58 pm

Recent Sale Report/ Realtor Assistance Needed.

This house out in Richmond has the potential to equal the biggest percentage losses that I have seen so far ,at roughly 20% after expenses.

The same percentage can be said of condos as well.

Let’s get back to this case,picked up for 1.9 million in May 2017 ,it was just sold again 15 days ago after asking 1.69.

Maybe they got them up a bit,but it had become a stale listing after trying to recoup the bulk of their money since July 2017.

Only they will know why they didn’t list it at what they paid for it.

I just report…

M43BC

Sold on 23rd January 2018

5691 Jaskow Dr. Richmond.

Picked up for 1.9 million in May 2017

Asking 1.69

2017-07-28 : $1,799,000
2017-11-15 : $1,699,000

https://www.zolo.ca/richmond-real-estate/5691-jaskow-drive

$$$$$$$$$$$$$$$$$$$$$$$$$$$$

Feel free to make a donation.

Flop For Fox Fund…

http://www.terryfox.org/get-involved/ways-to-give/

#2 For those about to flop... on 02.07.18 at 5:59 pm

Recent Sale Report/ Realtor Assistance Needed.

Had second thoughts about doing this one after being skewered on here last week by one of my harshest critics,but I will put it up and hopefully it will help him out.

This house with 3.5 acres was sold 20 days ago.

It is not a like for like situation ,but it might help a little with decisions to be made down the road.

They paid 1.21 ,and after trying to get 1.34 after lowering it for the winter,they put it back up to 1.44

What did it go for? Help the guy out.

I bust myths.

Discover new price points.

Report developing trends.

I am an equal opportunity destroyer…

M43BC

34288 Farmer Road, Abbotsford.paid 1.21 Farmland asking 1.44

Sep 8:$1,489,000
Oct 25: $1,349,000
Change: – 140000.00 -9%

https://www.zolo.ca/abbotsford-real-estate/34288-farmer-road

https://evaluebc.bcassessment.ca/Property.aspx?_oa=QTAwMDBGN1FGNw==

$$$$$$$$$$$$$$$$$$$$$$$$$$$$

Feel free to make a donation.

Flop For Fox Fund…

http://www.terryfox.org/get-involved/ways-to-give/

#3 Ex Pat Canuck on 02.07.18 at 6:02 pm

Ok good, glad that stock market correction is behind us and it’s all up from here. Unless of course this is the market top, and it’s all downhill from here…hmmm. Might want to sit on the chesterfield with a big bowl of popcorn, could get mighty interesting. Or some chips with dip, but hint, it’s a bad idea to buy the dip right about now.

Better still, have a balanced portfolio and ignore it all. – Garth

#4 Stan Brooks on 02.07.18 at 6:04 pm

Same as the loonie. No?
Store of value? Definitely not.
Backed by trust in Poloz? (lfmao).
At least bitcoin is decentralized.
Power to (over) tax credit money will soon destroy the western financial system as it is a scam.
It is based on ever increasing credit, not savings.
i.e. get more credit to pay your taxes. We will increase them/the taxes so you have to get more in dept in order to live/keep up with the cost of living and pay your taxes. While driving inflation up.
If you resist, other idiots will get that credit and drive inflation and asset prices up no matter what you do.

The biggest problem will be the lost of confidence in ‘money’/currencies as store of value.
So far the herd is stupid and complaint and taking it all the way up their but, but as I said the ability of stupid people or a community of stupid people to progress in the current world is severely limited.

#5 Ian on 02.07.18 at 6:05 pm

Very, very interesting last half hour of trading today, dogs.

US 10 year yields back up to 4 year high (2.84%), AND heavy stock sell off late.

Good chance of chaos next two days.

#6 Tony on 02.07.18 at 6:05 pm

The biggest negative for Bitcoin is the Chinese government trying to curb money laundering.

#7 Drunk Investor on 02.07.18 at 6:07 pm

My Bonds are losing value! I paid $280,000 in Canada Bonds, and now it’s valued only $266,414 after 1 year.
Bonds are a rip-off! The stock market lost 15% in the Dow. Buttcoin only made foreign money launderers richer to park their ill gotten gains in Vancouver.
Should we invest in Maduro’s Petro currency?!

#8 Third-time-charm on 02.07.18 at 6:11 pm

funny title

#9 MF on 02.07.18 at 6:11 pm

#161 Lost…but not leased on 02.07.18 at 4:51 pm

It’s called the Germany first or Europe first strategy.

Look it up.

MF

#10 Debtslavecreator on 02.07.18 at 6:12 pm

We are sliding into recession in Canada
Will show up in data in Q2
By year end we’ll be seeing 20-40 k/ month job losses and mr poloz will be reducing rates or about to and talking about unconventional monetary policy
The dumb luck this Marxist country has had for years will finally come to an end
The new mortgage apps are beyond dead since late Dec
Once the approvals from nov-dec close by end of March the data will FALL off a cliff unlike anything we’ve ever seen
There’s a massive credit contraction in its first inning in Canada

#11 Linda on 02.07.18 at 6:12 pm

1 in 5 bought Bitcoin using credit cards? Boy, talk about a nasty CC statement, because I very much doubt you can return that purchase for a full refund.

As for any of these investors thinking gains were ‘tax free’, the only way I could see that happening is that they had some way of hiding any gains from the government once they sold. Which comes with its own set of problems.

#12 calgaryguy on 02.07.18 at 6:16 pm

At this point, if Ether crashes it will take down about 20% of the software industry. The number of companies which are reliant on dapps now is getting very large.

#13 MF on 02.07.18 at 6:18 pm

I was speaking to a few co workers earlier about BTC. Interestingly, they all seemed to believe that Bitcoin will rebound and end up at $20,000.00 sometime this year.

These same people also state that while the Bitcoin fad could be over, the other crypto currencies and blockchain “technology” will become more sophisticated and valuable over time.

They all believe in the MJ stocks as well. Lots of overlap between these two types of “investors”.

MF

#14 Guy in Calgary on 02.07.18 at 6:26 pm

Credit cards are by far the most convenient and fast way to purchase crypto. There is no way of knowing how many people used their credit cards out of convenience and paid off the balance immediately versus those that are leveraged.

#15 crossbordershopper on 02.07.18 at 6:27 pm

a day without talking about real estate is ok with me, if the market goes up or down as long as we dont talk about canadian real estate and every possible derivative statistic about it.
looking at nice 2/2 condo’s in florida for 60K cheaper than the one i bought. 650 year taxes and 220 month hoa which includes garbage and electricity.
leave the snow and come to fort lauderdale

#16 Terry on 02.07.18 at 6:28 pm

Crypto gambling ………….. I knew that wouldn’t turn out very well and neither will investing in that zombie company called Tesla. What an absolute waste of resources and the most idiotic thing a person can do to put a car into space! And people still invest their hard earned money with this idiot!

#17 VancouverDev. on 02.07.18 at 6:28 pm

@ #2 For those about to flop…

5691 Jaskow sold for $1,580,000
34288 Farmers sold for $1,212,000

#18 El Gringo Salado en el Rio Frijoles on 02.07.18 at 6:29 pm

I really couldn’t help myself.

I bought myself and my son each a Boring Company !Flamethrower. Then, in a VERY uncharacteristic move bought a third one to leave in the unopened box. Don’t even have a clue where that idea came from.

Upon sellout of the 20000 for sale they showed up on eBay with active bidding at > 2x original price.

I’ve heard there’s a block-chain associated with each one so maybe that’s something like a title.

So I also haven’t a clue how long I should hold onto any of them — until after Musk gets to Mars?

#19 acdel on 02.07.18 at 6:30 pm

What’s wrong with 8-Tracks?

Have not invested in the Bitcoin craze but I am certainly keeping my eye on the “Blockchain Technology”, need to weed out the scammers out there first! Yes, I have a balanced portfolio!

#20 Musty Basement Dweller on 02.07.18 at 6:31 pm

Yes this Paleo blog called the bitcoin farce quite well. And the investment and stock advice seems very solid and helpful, that’s why I come here.
In all honesty though, I now (for a couple of years, after 6 of being a believer) disregard your predictions on the real estate market. This is primarily because you refuse to recognize the obvious additional and massive factors distorting the markets which are not about pigging out on debt.
We will find out after the Feb 20 BC NDP budget how big those other factors are.
And yes I realize I could go away and not read this pathetic blog but there is too much other entertaining writing and information other than real estate forecasting for me to disappear.
Thanks

#21 SunShowers on 02.07.18 at 6:32 pm

“As stated before, it’s not different this time.”

Bitcoin has crashed and lost over 50% of its value how many times now? And yet it always manages to come back over the next few years even higher.

Not disagreeing with the fact it’s a speculative gamble with no intrinsic value beyond what the next guy will pay for it, just pointing out that it’s survived worse than this many times over.

Full disclosure: I never BOUGHT bitcoin, but mining becomes pretty profitable when electricity is included in your rent :)

#22 Alberta Ed on 02.07.18 at 6:33 pm

PT Barnum had nothing on Elon Musk.

#23 Compulsory Ritalin medication to create the first Post Male State on 02.07.18 at 6:35 pm

Garth,

I had my annual physical a couple of weeks back and, thank god nothing came up, but I was surprised when the Doc started explaining the federal government’s new policy of having all GP’s write Ritalin prescriptions for all indigenous white Canadian males – you know, that same stuff they put overly excitable eight year old boys on, so they act like, while, eight year old girls.

My Doc explained all the provincial medical associations have issued strict guidelines starting in the new year to comply with new policy initiatives by the Trudeau government to steer Canada, in addition to becoming the first “post national” state, to become the first “post male” state. It was explained to me that the government’s policy advisors were apprehensive that not enough of our business and professional leaders would partake of legalized marijuana, and so it was being used as the backup plan to aid the Trudeau government’s stated goal of working towards a further feminization of Canada. In some ways it seems fitting for a country where young males expect to live in the family home while into they’re thirties and, instead of starting a business – dream of getting that secure government job.

I was also told to save my receipts, as they’re going to add a new check box starting on the 2018 CRA’s Income Tax and Benefits returns that allows an unstated credit for those who can prove compliance – essentially penalizing those who don’t come to terms with this new policy initiative.

I understand there’s going to be an exemption for all professional hockey players, but they’re unsure if that exemption will flow thru to the junior leagues. It will probably depend if the individual cases are missing a few front teeth or not – but it’s unclear if that means they’ll be exempted or prescribed, as like many other policies that originate from the PM office, the finer details haven’t been well thought out.

Garth, you should check into this. When did you have your last physical? Things appear to be changing fairly quickly…

#24 Smartalox on 02.07.18 at 6:36 pm

I read a summary on the last few days on the markets. it seems that much of the selling was done by ‘retails’ investors, a lot of small players selling small holdings and ETFs.

Much of the buying on the other hand was done by large institutional investors, who had been sitting on cash waiting to make some moves.

Sold some gainers, bought a few nice things on sale, myself.

Isn’t this how the Rich get Richer, while the little guy gets screwed?

#25 Spaceman on 02.07.18 at 6:36 pm

If you want to recklessly invest in the future, buy into a 46-year-old guy with a mother from Regina who just hurled a convertible into orbit around the sun. — Come on, this was genius. Usually they launch a concrete slab for these tests. This is a genius marketing move for a company with a $0 advertising budget. Electric cars are the future and his companies product is good. Tesla should be part of any balanced portfolio.

#26 Penny Henny on 02.07.18 at 6:37 pm

I know Mark has no clue about nothing, and maybe he is just a robot. But he is once again stepping outside of boundary of knowledge when he says this
” #150 Mark on 02.07.18 at 2:39 pm
“Number of young , hard working, punctual, unskilled Canadian labour willing to start at $20/hr and work their way up to $39/hr? 0.”

The question I would ask in such situations is whether or not the guy who has been there for a while is really worth twice as much as the new guy.

I think many Millennials have considerable frustration being in workplaces where senior employees just sit around, don’t do a lot of work and are magically paid a lot more. Expecting the young Millennial, paid less, to do a disproportionate amount of the work.

In some fields, there is legitimately a value to all that extra experience. But in many, there isn’t.”

Mark you frikken stupidhead. They are talking about a trade!
Just shut up you friggin idiot.

#27 james on 02.07.18 at 6:37 pm

for those who care
Wounded Canadian Veteran Confronts Trudeau

https://www.youtube.com/watch?v=PwXl1Hs3V-o

#28 Kilt on 02.07.18 at 6:37 pm

Pretty tempting to short Tesla.
Too much hype and quarter after quarter of failing to reach goals. I didn’t listen to this quarters call yet, but I imagine there will be a lot of excuses about having to re-write software code, and how fine tuning control system algorithms on the 3-line just takes time. Rubbish.

Kilt.

#29 Smartalox on 02.07.18 at 6:39 pm

New item:

The government of BC has stuck a deal with Air BnB to have the company collect and remit PST and municipal taxes on Suite rentals.

How long do you think before the Feds get Air BnB to collect GST – and refer income from specific properties to Revenue Canada for income tax purposes?

Right.

#30 Penny Henny on 02.07.18 at 6:39 pm

Sorry for the strong language Garth.
Low carb diet.
You know what I mean.

#31 ImGonnaBeSick on 02.07.18 at 6:52 pm

#13 MF – that’s because they’re gamblers. Like all degenerates they believe they know something the rest of us aren’t privy to. They’re all crapping their pants right now, secretly telling themselves that they just need one more good turn of the cards to break even and then they’re out.

#32 Reximus on 02.07.18 at 6:53 pm

“At least bitcoin is decentralized.”

Oddly, that’s what makes it worthless after the hype phase is over (now)

#33 BK on 02.07.18 at 6:56 pm

Even blockchain? I could have sworn you said it was great technology in one of your previous posts. It’s not a crypto. Just tied to it at the moment for some strange reason……..

#34 dimi on 02.07.18 at 7:02 pm

Twist: what if it takes awhile before it go to zero..? Better please consider accepting cryptocurrencies in your belfountain store. Interesting experience with a new technology, PR, and a few new clients (myself included). Thanks!

And change prices every four minutes? – Garth

#35 Penny Henny on 02.07.18 at 7:03 pm

A very balanced post tonight Garth.

Clap.

Clap.

Clap.

For the hearing impaired that was a golf clap.

#36 crowdedelevatorfartz on 02.07.18 at 7:05 pm

@#18 Post Male State

Good one.

#37 ImGonnaBeSick on 02.07.18 at 7:07 pm

I must say, I’m looking forward to the civil war between Alberta and BC. Cowboys vs Manbuns, er Cow”people” vs “people”buns. Will Captain Crayons come to their rescue? Oh right, he’s in the US renaming “people”hattan.

#38 For those about to flop... on 02.07.18 at 7:09 pm

Recent Sale Report/Realtor Assistance Needed.

I had been curious as to why I was not finding many January sales in my folder but now they are starting to drip through.

Houses to the East of where I live have had a tough time selling and some at a loss, and so this house near Main and 41st that just sold will help out showing what’s going on to the West.

Sold on the 23rd of January 2018,they had a little bit of leeway and a long sale after putting it on last August.

Couldn’t have been too concerned as the main photo has a Mountain bike in the middle of the photo.

Starship sang it best.

We built this city…

We built this city on slop and mould…

M43BC

5748 Sophia Street, Vancouver

Apr 20:$1,838,800
Oct 8: $1,638,000
Change: – 200800.00 -11%

5748 SOPHIA ST VANCOUVER paid 1.47 ass 1.5 asking 1.68

https://www.zolo.ca/vancouver-real-estate/5748-sophia-street

$$$$$$$$$$$$$$$$$$$$$$$$$$$$

Feel free to make a donation.

Flop For Fox Fund…

http://www.terryfox.org/get-involved/ways-to-give/

#39 Shawn on 02.07.18 at 7:10 pm

What do you do with a balanced portfolio when bonds carry more risk and correct more than equities?

Do it better. A balanced portfolio does not mean 40% bonds. – Garth

#40 Zapstrap on 02.07.18 at 7:12 pm

#19 acdel on 02.07.18 at 6:30 pm

What’s wrong with 8-Tracks?

I don’t remember anything good about them. The worst thing was pulling out your tape and half of it was still inside the player.

#41 Shawn on 02.07.18 at 7:17 pm

The notion of the “balanced portfolio” ie the 60/40 equity bond portfolio didn’t exist prior to the 1980s. Interest rates were double digits and bonds have gone up in value ever since. How well would a traditional balanced portfolio have done from the late 1940s through the 1950s (a period for bonds similar to today)?

Who cares? This is not 1945. – Garth

#42 Shawn on 02.07.18 at 7:21 pm

I get it – corporate bonds and preferred shares. Unfortunately the companies that offer the majority of corp bonds and pref shares in Canada are equities that behave like bonds (ie utilities, insurance companies, REITS).

#43 Deplorable Canuck on 02.07.18 at 7:21 pm

Telsa has zero marketing budget…..and just made the best car ad of all time.

#44 Nonplused on 02.07.18 at 7:21 pm

That top picture looks kind of expensive.

If the aliens ever do come they will pass a car orbiting Mars before they get to Earth. I wonder what they will think of that? Of course that assumes everything goes well and the rocket doesn’t blow up. Oh well it will be a good warning for them that what lies ahead is pretty crazy. They’ve probably already seen Disco on TV though so I suppose they won’t be too surprised. If we’ve already turned the planet into a smoldering radioactive wasteland by then the car orbiting Mars might give them some insight into what sort of creatures would do that to themselves. Crazy ones. On the other hand this could explain Bitcoin as well.

I wonder if the Blipcoin meltdown in fact triggered the stock market correction. Blipcoin was pretty big at one point, I read the size of Tesla and Amazon together I think, or there about. If so, this correction in Blipcoin is as big as one of those companies disappearing altogether. So if margin was involved, well, the first thing you have to do is sell whatever is liquid. I think it would be hard to sell the coins themselves at this point, who is buying? And then don’t forget they are still being “mined”, so even if there are buyers there is also additional supply coming every day.

This whole Blipcoin thing seems very reminiscent of the tulip mania. How something as easily reproduced as a tulip became worth whole fortunes for a time defies understanding. People had to know the market would become saturated at some point. Go to Holland now and they whole countryside is covered in them to this day. Sure they have some value, but they are now an abundant commodity. You can get all the tulip bulbs you want for $10 a bag at Home Depot. They are about as hard to come by as onions.

But as Charles Mackay pointed out many years ago in his seminal masterpiece “Extraordinary Popular Delusions and the Madness of Crowds”, human nature does not change, so these things come around every so often with predictable regularity. And people, at least in terms of the crowd, simply do not learn from it. The book is quite old and very long but I suggest everyone who invests read it. It discusses all the great bubbles up until his time, and as well has a section on many of the other delusions of his time many of which are still with us.

#45 Lost...but not leased on 02.07.18 at 7:24 pm

#9 MF

Thanks for info….

Pretty sad majority of people have no clue that “ALL WARS ARE BANKERS WARS ” and that one of the Rothschilds women claimed that if he sons did not desire war there would be none.

WW1 is attributed to the assassination of an Austrian archduke. The background was Germany as a relatively new minted country was becoming an economic threat to British industry.

One of the keys was Germany accessing oil resources in Turkey, the transportation corridor would be through what was Yugoslavia. The assassination took place in Sarajevo as a means to create turmoil in this crucial region and drag Germany into a war, thus neutralizing an economic competitor .

Also note the US Federal Reserve was created in 1913, approx. 6 months before the assassination, and since then the US went from a debt free country to one that began to build massive deficits, much of it via the ravenous military industrial complex….and USA has been involved in wars for most of it’s history.

Tinfoil alert! Aisle six! – Garth

#46 Ian on 02.07.18 at 7:25 pm

#30 PennyHenny

That was awesome!!

I tried fasting. Started using really bad language. Did have a lot of mental clarity though.

#47 Shawn on 02.07.18 at 7:26 pm

and the banks

#48 Reality is stark on 02.07.18 at 7:27 pm

Bitcoin losses no big deal. Most stock market losses don’t involve margin so no big wup either. However real estate losses involve leverage. Major losses.
But what may cost you your life is the subsequent inevitable divorce.
When things go wrong it is always the patriarchy to blame, and that means you. Be very careful buying real estate.

#49 dimi on 02.07.18 at 7:27 pm

> And change prices every four minutes? – Garth

All prices are in CAD, just different payment method.

#50 For those about to flop... on 02.07.18 at 7:31 pm

VancouverDev 18 at 6:28 pm
@ #2 For those about to flop…

5691 Jaskow sold for $1,580,000
34288 Farmers sold for $1,212,000

Wow! That’s a lot lower than I thought.

5691 Jaskow Dr Richmond

Paid 1.9

Sold 1.58

This is the biggest percentage loss I have recorded since this study began.

Pretty much 17% outright and if we put in 5 % for expenses and a couple of percent for opportunities lost we are up to roughly 24% or roughly 450k down the drain.
$$$$$$$$$$$$$$$$$$$$$$$$$$$$

Second one was surprisingly low as well as it had a bit of land that went with it

34288 Farmers Rd,Abbotsford

Paid 1.21

Sold 1.21

So depending on what expenses they had to pay it is possible it still cost them 85k to shut the barn door but at least it is now over.

Thanks for your timely response.

I have no reason to doubt your numbers and always when the bc assessment database is updated they will be presented as CONFIRMED PINK SNOW.

A good deed done ,enjoy your dinner…

M43BC

$$$$$$$$$$$$$$$$$$$$$$$$$$$$

Feel free to make a donation.

Flop For Fox Fund…

http://www.terryfox.org/get-involved/ways-to-give/

#51 ANON on 02.07.18 at 7:31 pm

He who loses less, gains.

#52 Nonplused on 02.07.18 at 7:37 pm

#37 ImGonnaBeSick

Why would the good, left leaning, NDP voting people of Alberta want to go to war with BC? The fact is that BC has already won any future wars because so many of their young people moved to Alberta to find work. And from Ontario and Saskatchewan too. A born and raised Albertan is a minority now, the left has won through inter-provincial immigration and the Cowboys have to stay mostly on their ranches and pay the carbon tax just like everyone else.

It’s time for all Albertans to admit it. We have been “culturally enriched” by the rest of lefty Canada and there probably is no going back.

And no, I am not talking about immigration from foreign countries! I am talking about Bob and Doug McKenzie and the like. The “manbuns” from BC demanding $15 an hour to serve coffee. Of all of them I like the folks from Saskatchewan the best, more sensible than the others, other than the fact they turn McMahon stadium half green when the Riders come to town, but it’s usually good fun. That is probably the most fun rivalry in the CFL. I mean there are always a few Edmonton fans in the crowd when they come to town, but nothing like what happens when Saskatchewan comes to town.

#53 Hugh Janus on 02.07.18 at 7:39 pm

8 tracks are awesome. Thats what mcdonalds made drink strawz for . You jammed them in beside the tape and it kept them playing right. I once listened to nazareth “hair of the dog” for 3 days straight on my 8 track, after drinking mushroom tea.

#54 tccontrarian on 02.07.18 at 7:44 pm

People in the financial industry get away with saying the most outlandish things. On Monday, in the midst of the mini-crash, there was some fellow being interviewed on BNN who actually said (re: Amazon), that it’s a ‘great company to own at any price’.

“At any price”? Really? Gosh…

And here you are Garth saying this:
“Equities have value when the companies underlying them are making money.”

OK then – explain to me why Tesla is ‘worth’ $56 Billion when they’re not ‘making money’ (they’re in fact only ‘burning’ through cash).

So, I’d say that Bitcoin and Tesla are both speculative based on future potentials – differences notwithstanding.

TCC

ps. please, oh please, don’t delete me again! My comments are valid!

My very comment suggests Tesla is not worth its capitalization. How much clearer could the final sentences have been? This is why smart people don’t buy individual stocks (or BTC). – Garth

#55 Andrew Woburn on 02.07.18 at 7:48 pm

#16 Terry on 02.07.18 at 6:28 pm
Crypto gambling ………….. I knew that wouldn’t turn out very well and neither will investing in that zombie company called Tesla. What an absolute waste of resources and the most idiotic thing a person can do to put a car into space! And people still invest their hard earned money with this idiot!
=====================

It’s an identity thing. Run with the cool crowd. If you want to invest in boring companies with cash flow you could be Warren Buffet but who wants that!

Bitcoin still has a volatile future. Lots of people prefer casinos to steady growth.

#56 Suede on 02.07.18 at 7:48 pm

Elon musk is making one small step for PEOPLEKIND!

seriously, I can’t stop laughing at Trudope

Who voted for this guy (err.. Person) , be honest?

#57 Ronaldo on 02.07.18 at 7:50 pm

#49 dimi on 02.07.18 at 7:27 pm

> And change prices every four minutes? – Garth

All prices are in CAD, just different payment method.
——————————————————————
Roger Ver, the main man behind Bitcoin and who is now flogging BitcoinCash has stated that Bitcoin is not a useful payment method because of the high fees and time it takes to process a transaction. Anyway, people were not using it as a method of payment because they figured it would continue to rise in value and that is the point Garth is making. Nothing to do with the exchange rates CAD/US, etc. Bitcoin is totally useless and the value is going to return to its true value which is ZERO.

#58 Fake News Again on 02.07.18 at 7:50 pm

#45 Lost…but not leased on 02.07.18 at 7:24 pm
#9 MF

Thanks for info….

Pretty sad majority of people have no clue that “ALL WARS ARE BANKERS WARS ” and that one of the Rothschilds women claimed that if he sons did not desire war there would be none.

WW1 is attributed to the assassination of an Austrian archduke. The background was Germany as a relatively new minted country was becoming an economic threat to British industry.

One of the keys was Germany accessing oil resources in Turkey, the transportation corridor would be through what was Yugoslavia. The assassination took place in Sarajevo as a means to create turmoil in this crucial region and drag Germany into a war, thus neutralizing an economic competitor .

Also note the US Federal Reserve was created in 1913, approx. 6 months before the assassination, and since then the US went from a debt free country to one that began to build massive deficits, much of it via the ravenous military industrial complex….and USA has been involved in wars for most of it’s history.

Tinfoil alert! Aisle six! – Garth

_______

Its too bad that history is “re-written” by the victors of war.

#59 Kyle Griffin on 02.07.18 at 7:52 pm

Stop spreading fud, obviously buying any investment on your credit card is stupid. Ten percent of your investments- what you can stomach losing- into an emerging technology like block chain that has the chance to revolutionize the world like the internet did- not so stupid. Unless you have really studied every single project related to block chain why crap all over it constantly? Is it fear??

Bitcoin is not blockchain. It’s gamer stuff. – Garth

#60 Andrew Woburn on 02.07.18 at 7:53 pm

#23 Compulsory Ritalin medication to create the first Post Male State on 02.07.18 at 6:35 pm
===================

I thought I knew satire when I saw it but I’m no longer sure. Especially after T2 pronounced we are all “peoplekind”.

I was never a fan of T1 but he was definitely macho. Somewhere in a Catholic heaven, T1 is facepalming.

#61 Bob on 02.07.18 at 7:56 pm

For the life of me, how could people get sucked in to this Bitcoin nonsense? I can’t fathom it….

Any currency “wannabe” not backed by a Central Bank is doomed to fail.

#62 acdel on 02.07.18 at 7:57 pm

#40 Zapstrap

Oh heck, that was the fun of it; pull out long strands of tangled tape, stretch it out to get the wrinkles out, re-insert it, rewind, then one could usually listen to the song at half or double the speed! :)

#63 TurnerNation on 02.07.18 at 7:59 pm

#23 Compulsory Ritalin not so funny. Ontariowe is introducing a free drug plan for youth; free university tutition; guaranteed minimum income. Weed is legal.

The pharma solution: Drugged up kids while getting a Marxist education. High school = high times.
Prevents revolutionaries. Bread +Circuses.

#64 Andrew Woburn on 02.07.18 at 8:03 pm

Another side benefit of Bitcoin.

– Watch Out! New Cryptocurrency-Mining Android Malware is Spreading Rapidly

Bitcoin mining is very energy intensive so hackers have been stealing computer cycles from other people. Now it has spread to smartphones. Most of us won’t be affected but once a cryptohacker gets into your phone the rest of your data is probably at risk. Since so many millennials do their banking by phone, this is a special concern.

https://thehackernews.com/2018/02/cryptocurrency-mining-android.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+TheHackersNews+%28The+Hackers+News+-+Security+Blog%29&_m=3n.009a.1678.ub0ao09enu.10mr

#65 IOTA on 02.07.18 at 8:05 pm

Iota buy lota

Smoking dude made the call …he’s never wrong

Going to 100k at least

IOTA IOTA IOTA

#66 Ronaldo on 02.07.18 at 8:08 pm

Education on Blockchain:

http://hackeducation.com/2016/04/07/blockchain-education-guide

#67 ANON on 02.07.18 at 8:08 pm

#54 tccontrarian on 02.07.18 at 7:44 pm
So, I’d say that [fill the name(s) here] are [both, any, all] speculative based on future potentials – differences notwithstanding.

I think you’re really onto something here. :)

#68 Huckleberry on 02.07.18 at 8:09 pm

Just another dinosaur money manager scared of the unknown.

The credit card stat is meaningless. Just because someone is buying on CC, doesn’t mean they are leveraged. The nature of crypto is that if the price goes low enough, you need to get the money in fast. CC is almost instant, and serves that purpose extremely well.

BTC is a purely spec, high-vol commodity and nobody should be buying it on credit. Why would I possibly fear the actions of moronic newbie investors flushing their money away? – Garth

#69 Cloudy on 02.07.18 at 8:14 pm

I’m not a tech guy so I could be completely out to lunch, but isn’t the value block chain and digital cryptography essentially separate from the actual “currencies” using them? All these people I talk to that are into cryptocurrencies act as if they can’t lose their value because there is value in the technology but anybody can use a variant of the technology in their own coins etc…correct?

#70 common sense on 02.07.18 at 8:15 pm

Knew Bitcoin was in trouble when my normally very mature and rational 18 yr old daughter called me from University and gave me her first bit of investment advice ever..

“Dad, have you thought of investing in Bitcoin? My friends are doing it and it’s going good.”

Flash forward 2 months…call to child ” Sweetheart, read Garth’s blog and a few others immediately so you can learn a few things about investing.”

Ah youth.

#71 common sense on 02.07.18 at 8:21 pm

Elon is a marketing genius…times his events perfectly to coincide with his businesses reports.

Not time to short TSLA just yet but just around the corner.

#72 tccontrarian on 02.07.18 at 8:25 pm

If you want to recklessly invest in the future, buy into a 46-year-old guy with a mother from Regina who just hurled a convertible into orbit around the sun. -GT
————————————————————

I guess this was about Musk and Tesla. Missed it, as I didn’t know he’s ‘only’ 46 and has a Canadian connection.

TCC

How many people put cars into orbit this week? – Garth

#73 common sense on 02.07.18 at 8:27 pm

On a more serious note…have to love my US based financial advisor who I must have because I live in Canada.

Send an urgent message yesterday to sell my inverse oil price fund because it’s “Highly dangerous, you don’t know what your doing with 3x leverage and it could go out of business like the Inverse VIX ETF fund that did yesterday..”

Funny, the rat bastard aka little prick never said a word the past few months when oil when was going through the roof, he was still getting his comission for doing dick all, I was losing my shirt but yesterday he has my future to think of? People.

And today I regained 9% and feel I will be at least break even sooner than later.

#74 Smoking Man on 02.07.18 at 8:28 pm

#56 Suede on 02.07.18 at 7:48 pm
Elon musk is making one small step for PEOPLEKIND!

seriously, I can’t stop laughing at Trudope

Who voted for this guy (err.. Person) , be honest?
…..

Sure as hell it weren’t me. What tool. He was joking he says. Lmao. His condisending manslapaining was not a joke.

It’s wide open season. He blew it. Up until that point in time you had to be real careful what you said because you could branded with phob.

Not any more. Oh to be a fly on the wall when Butts gets the call from George Soros.

#75 acdel on 02.07.18 at 8:28 pm

Garth, no need to post this if this goes against your rules of law on your blog. Since so many including you have provided us with investment tips, including stock tips etc I have come across one that may interest a few people.

By no way am I affiliated or pushing this stock; do I own it, yes, purchased it last year in the pennies. It is a very interesting new lens technology that could revolutionize the lens market. Your choice, here is a link to the company. https://nexoptic.com/

#76 Nagraj on 02.07.18 at 8:29 pm

DELETED

#77 rpc on 02.07.18 at 8:29 pm

Market correction seems to be over.Us and global markets
are likely to outperform canada.Keeping lots of money in bonds will not give any good return these days.I will switch my royal bank mutual fund select balanced portfolio to very aggressive select portfolio to get rid of bonds and will not switch until next correction.

#78 common sense on 02.07.18 at 8:31 pm

#72 TC

Maybe Elon should concentrate on putting cars ON THE ROAD that he got the money for and promised….instead of orbit.

Gee, I guess serving the end customer isn’t a priority is it in Elon’s universe.

#79 Bezengy on 02.07.18 at 8:33 pm

It was 1972. I was nine years old. Old Joe and I were on a mission to salvage all the copper, radiators, batteries, and everything else a car left at the local dump could offer. Old Joe was quite a guy, always kept his gas tank full, (because you never know), $2.00 to fill up the 1969 Chevy pickup with the stick shift on the floor. We finish the job, and on the way home the AM radio blasts out that some Mark guy had won his fifth gold medal at the Olympics. Old Joe quietly reaches over and turns off the radio. “World’s going to hell and all they can think about is playing games” he says. Makes me laugh every time I think about it. Good luck to our athletes! Make us proud.

#80 IHCTD9 on 02.07.18 at 8:36 pm

#14 Guy in Calgary on 02.07.18 at 6:26 pm

Credit cards are by far the most convenient and fast way to purchase crypto.

—————

Evidently, 4 out of 5 crypto buyers disagree…

#81 TheSecretCode on 02.07.18 at 8:37 pm

This is all about what the .gov supports. And we know the plan out of Davos.

The stock market has a fully backed .gov plunge protection team.

BTW – anyone loosing their shirt in crypto are those who bought after April of 2017…you don’t make a mint after the massive spike. That would be like buying a house in Canada right now and expecting to become rich, then having to resort to HELOCS and funny financing as a forever debt slave to live a fake life, but as long as you have the material items and they have not been repossessed, people won’t know.

As of today, my remaining Ethereum that was not transferred into a balanced portfolio is up 43 fold from last March. Yeah I bought a little in the spike…gone…as with gambling, sometimes you win, sometimes you lose.

My metro Vancouver house is up 3% from last March. The banks don’t like crypto, but they love houses…have a house? Approved! For that HELOC that can basically finance the good life for the next 20 years…let the banks have it after you have passed…because as they say…you can’t take it with you…boomer style.

When will the big banks turn sour of the massive outflow of customers to credit unions happening right now? We know that the big banks run the country, so it is only a matter of time until they get .gov to tweak provincial rules.

Where did the ICBC CEO go? Cental1 Credit Union. 900 million deficit this past year and an upcoming 1.3 billion dollar deficit for ICBC that BC is going to pay heavily for.

#82 fishman on 02.07.18 at 8:38 pm

“Nonplussed” I do know very well about the loss of B.C.ers to the oil patch. I lost all my good guys to the “patch” had to pick from the dregs in the years the boom was on.. Happy days last spring when a couple non whining workers from the “patch” signed on for the season. Best of all, their coming back. They tell me the big money is gone out there.
Ive hired lots of young guys over the decades & found its doesn’t matter what province they come from. What I’m looking for is farm or small-town kids. Mentally tougher, easier to train, better physical endurance.

#83 Asterix1 on 02.07.18 at 8:38 pm

I do not believe that Canada will lower its rates if job reports are not phenomenal. As the USA keeps raising theirs, decision will be simple, join them or destroy our C$.

If we decide to become the northern Peso, taking a winter vacation to Windsor will be considered going “south for the holidays”.

#84 Smoking Man on 02.07.18 at 8:42 pm

How many people put cars into orbit this week? – Garth

I could tell Ya but then the men in black will take you out.
Don’t worry the car is not allowed out side the solar . system. I’m sure some liberals from planet Lesbetron will poch it before it gets near Jupitor.

We’re am I going with this post. Ok it stupid.

Aliens exist.

#85 TheSecretCode on 02.07.18 at 8:44 pm

The blockchain technology is transforming the way we do business…and it is only a matter of time…It will put realtors out of work…How? Learn blockchain technology and what problems it solves.

This is the most impressive technology since the Internet….and just like Amazon…there will be a spike…it will crash…and a few survivors will come out with a product/service that becomes adopted and massive.

#86 Leo Trollstoy on 02.07.18 at 8:50 pm

No recession in Canada don’t be ridiculous

Inflation good, unemployment low, jobs plentiful, economy strong

If u can’t make it in Canada U can’t make it anywhere

#87 TheSecretCode on 02.07.18 at 8:51 pm

Elon Musk just negotiated a potential $58 billion dollar compensation package over 10 years…potential as bottom and top line targets are in place…still looks to be a minimum multi-billion dollar pay cheque for the next 10 years of work.

This will once again change the way how executive pay is structured and pave the way for even greater CEO incentives.

You want to become rich? Become a CEO like the former ICBC boss. Golden opportunities even if you tank a company your pockets remain fat.

#88 Leo Trollstoy on 02.07.18 at 8:51 pm

I feel bad for mark

Don’t let an xtra chromosome get u down

#89 Walter Safety on 02.07.18 at 8:53 pm

“Bitcoin isn’t money”
ETF’s aren’t stocks and bonds.

#90 Sideshow Rob on 02.07.18 at 8:54 pm

An entire blog post with only 1 mention of moisters and zero mentions of depends, Boomers, thirsty underwear, or man buns. It’s like you’re not even trying.
#mailingitin

#91 Courage and Poo on 02.07.18 at 8:56 pm

The underlying value of the cryptos is there and has been proven by the proof of concept known as ‘Bitcoin’. There are good arguments to be made against cryptos, but we never hear them. Why? Because this is a complex system and it’s easier to dismiss something rather to try to understand it. Unless you’ve been able to hash your first block, you have little business speaking to the topic. Blockchain technology works, and it’s open source. New world, get used to it.

So many super-smart dumb people. – Garth

#92 CalgaryCarGuy on 02.07.18 at 8:59 pm

RE #37 ImGonnaBeSick
“I must say, I’m looking forward to the civil war between Alberta and BC. Cowboys vs Manbuns, er Cow”people” vs “people”buns.”
——————————————————————–
Most of the Albertans I’ve talked to this week are po’d enough to have a ‘civil war’ over this. It seems many would do much, much more than Rachel has up to this point. Having said that, Rachel Notley is currently sowing much needed seeds in the populace to “possibly” not let her be a “one-and-done” leader of this province in the next election in 2019.
Although there are a minority of green mouth-pieces in B.C. making a lot of noise I believe there have been polls showing a majority of people supporting the pipeline. The NDP/Greens government are ignoring those polls and are performing for their base.
Animosity between Alberta and B.C. has been brewing for many years—maybe even decades now. This situation has brought things to a new pitch. And J.T. is in the middle, haha. The old “deer in the headlights look”. Should be interesting.

#93 NoName on 02.07.18 at 9:02 pm

#45 Lost…but not leased on 02.07.18 at 7:24 pm

dude you should read bit more about “mada bosna”, “black hand” and Gavrilo Princip. gavrilo did pull a trigger but, but person behind it was not us central bank but teacher Danilo Ilić, whu nyu…

#94 Trojan House on 02.07.18 at 9:03 pm

“…investors were handed their asses for speculating on companies with no profits and CEOs perched on skateboards. Being cool didn’t cut it.”

Oh you mean kind of like the other Rocket Man’s (not the N Korean dude) company Tesla – their free cash flow is on the wrong side of $1.5 billion. Maybe space is where their cars belong??

How about Netflix? Close to minus $2.0 billion in free cash flow.

Yet investors are piling into these two companies for no other reason than Garth’s quote above. Amazing…or is that ridiculous?!

#95 NoName on 02.07.18 at 9:06 pm

addendum

https://en.wikipedia.org/wiki/Black_Hand_(Serbia)

https://en.wikipedia.org/wiki/Danilo_Ili%C4%87

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

right click translate to english
https://hr.wikipedia.org/wiki/Sarajevski_atentat

#96 Axehead on 02.07.18 at 9:06 pm

Last 8-track I had was in a 72 Dodge Dart with 318 v8 and playing the Best of Cream (with a pack of matches jammed so it would play properly).

#97 conan on 02.07.18 at 9:08 pm

That car is in a one billion year orbit around the Sun. People of the future will ride out to it and……………

A) Graffiti
B) laser canon it full of holes
C) do a selfie with the Space Man
d) honor it as an historic milestone.

Trumps new tax laws favor ventures like this. So, expect more.

https://www.youtube.com/watch?v=n2sSs9UcFa8

#98 acdel on 02.07.18 at 9:14 pm

#53 Hugh Janus

Ha, I use to use match book covers to pry on the side of it; each time I stepped on the accelerator the tape would speed up, glory days!!

#99 Leo Trollstoy on 02.07.18 at 9:15 pm

Tech is booming!

Go West young man…

https://www.cultofmac.com/527819/apple-hiring-spree-means-something-big-way/

#100 Pete from St. Cesaire on 02.07.18 at 9:17 pm

Credit cards are by far the most convenient and fast way to purchase crypto. There is no way of knowing how many people used their credit cards out of convenience and paid off the balance immediately versus those that are leveraged.
—————————————————————
I’d say it’s pretty easy to know that most are leveraged. Look at the debt to income ratios of most people and look at how most credit cards are ‘maxxed out’ with only the minimum payments being made.
Bitcoin is only loved by the demographic that believes in loading on as much debt as they can acquire.

#101 Entrepreneur on 02.07.18 at 9:24 pm

“in politician command” and Notley I am having whisky, Albertan whisky, for the people.

#102 QcSoftIng on 02.07.18 at 9:24 pm

Hi,

While your dismissal of the bitcoin price is justified after such a stupid bull run, hopefully you are doing due diligence work on the block-chain technology.

From a software perspective it can be bigger then Operating systems, Internet and iPhones. The apps that can rise from that tech will make facebook look like data dump.

The chaos surrounding block-chain comes from the libertarian nature of its mathematics and creator. Can you imagine Bill Gates or Larry Ellison just writing Windows or Oracle and dump it in nearest forum ? Bail out into the unknown never to be heard from again ?

This is not about blockchain. Just as dot-com startups were not about the Internet. – Garth

#103 For those about to flop... on 02.07.18 at 9:33 pm

Pink Snow falling in Burnaby.

Here’s another one in big trouble in little Burnaby.

Asking price has fluctuated wildly as they try to hook a fish.

They yank the rod up and down without a bite.

This time they fed the fish 50k to try and entice a nibble.

It is a newer build that was bought for 2.06m in May 2016 and it was only assessed at 1.5 at the time.

Perhaps it is them who got stuck in the net…

M43BC

Asking 1.99 now 1.94

8920 15th Ave Burnaby

Jan 25:$2,298,000
Apr 19: $1,688,000
Change: – 610000.00 -27%

https://www.zolo.ca/burnaby-real-estate/8920-15th-avenue

https://www.bcassessment.ca/Property/Info/QTAwMDAzV0tHWg==

$$$$$$$$$$$$$$$$$$$$$$$$$$$$

Feel free to make a donation.

Flop For Fox Fund…

http://www.terryfox.org/get-involved/ways-to-give/

#104 IHCTD9 on 02.07.18 at 9:36 pm

#82 fishman on 02.07.18 at 8:38 pm

Ive hired lots of young guys over the decades & found its doesn’t matter what province they come from. What I’m looking for is farm or small-town kids. Mentally tougher, easier to train, better physical endurance.
—————

Yep, physical exertion and adverse work environments extend your mental and physical boundaries after a while.

I worked with a 60+ year old guy in construction when I was a kid, it was incredible how hard this guy could work – all day. I was a teenager and had to haul @ss to keep from looking like a wet noodle.

Another job had me working with a masonry crew laying block. There was a guy about 50 who was a life long mason, and he was a beast! Forearms were like Popeye, strong as an ox, real hard to keep him supplied with blocks.

Another construction job, mid 40’s guy, standing on a ladder could position and then hold up a full sheet of 5/8” drywall over his head against the ceiling with one arm while he grabbed the screw gun off his belt. Guy had Herculean upper body strength.

Arnold Schwarzenegger in his prime would not have been able to keep up with these guys. There is some kind of brain rewiring going on like an addict experiences. I believe mental conditioning plays as much a role as strength does in enabling these guys to work like this all day.

#105 TurnerNation on 02.07.18 at 9:54 pm

Some people like there’s no stars in space.
Fool me once.

#106 IHCTD9 on 02.07.18 at 10:06 pm

#98 acdel on 02.07.18 at 9:14 pm

… each time I stepped on the accelerator the tape would speed up, glory days!!
—————

That’s only because all the cars back then had 400+ ci V8’s under the hood :)

I missed out on the 8 tracks, but cassettes did the same things like eating up the tape. You couldn’t bike down the road too far without encountering a 500’ long bird’s nest of mangled tape some guy pitched out the window…

#107 When Will They Raise Rates? on 02.07.18 at 10:12 pm

This sounds a lot like the no-coiners’ talking points the last time the bubble pooped at around $1000…. vultched a bunch @ $200 back then. Glad I did.

Buttcoin has been good to me. But by all means stay poor my friends, the central banks and Justin will save you.

#108 akashic record on 02.07.18 at 10:15 pm

Leaked Document Reveals Soros Backing Secret Plot To Overturn Brexit

https://www.zerohedge.com/news/2018-02-07/leaked-document-reveals-soros-backing-secret-plot-overturn-brexit

“Open Society” at finest… 1 man with his money wants to overturn the democratic votes of millions of citizens and get tax write-off for the “charity” to make peoplekind better.

#109 Josh on 02.07.18 at 10:20 pm

With all the volatility in the stock market or late I thought it would be wise to brush up on my history since as Garth like’s to put it ” It’s never different this time”. Interesting to note that the stock market has never had so much leverage money and that this summer would officially mark the first time in History that an economic expansion has lasted before a bear market. In my view the juice of possibly meeting our last high or a 10% gain is not worth the juice of a possible 30-70% crash and have changed our asset allocation to reflect such. Just for shits and giggles I read about the previous stock market crashes and they all seemed to carry the common theme of irrational exuberance and easy money ( hello last 10 years and current property prices). Here is a synopsis of our most recent crash in 2008. Has anything really changed? At least in the past they had debtors prison.

“Eight major economic mistakes George W. Bush made: 1) A return to deficit spending, 2) Iraq, 3) Tax cuts for the rich, 4) Sarbanes-Oxley Act, 5) Encouraging consumer spending, 6) The lack of an energy policy, 7) State of denial, and 8) A muddled first bailout by Treasury Secretary Henry Paulson.”

GLTA and God Bless

Markets don’t fall just because they go up. The underlying economic fundamentals need to wither, affecting productivity and corporate profits. There is no reason to suspect a crash, but corrections will be normal and healthy. – Garth

#110 IHCTD9 on 02.07.18 at 10:24 pm

#78 common sense on 02.07.18 at 8:31 pm
#72 TC

Maybe Elon should concentrate on putting cars ON THE ROAD that he got the money for and promised….instead of orbit.

Gee, I guess serving the end customer isn’t a priority is it in Elon’s universe.
————-

Musk is SO FAR BEHIND with C series production it isn’t even funny. Guy keeps taking peoples money, but at their current production rates, it’ll be like 400 years before he can deliver.

But the kids and climate zealots keep sending him billions of dollars and are content to potentially wait 5 life times to take delivery of their new C.

The whole outfit is a collection of clowns that don’t know what they’re doing outside of dragging money out of governments and stupid people.

Some day, Musk’s days as a rock star will be over, and any company attached to him better have good fundamentals at that point or it’s **poof**.

#111 TRUMP on 02.07.18 at 10:25 pm

Who wanna smoke some weed…….

I got a stash of some Trudeau lies…..some Cheater Bill….and my favourite Trump ICE……get so high of this one you get kicked out the country.

#112 akashic record on 02.07.18 at 10:26 pm

Cryptos are speculation.

Just like hundreds of other financial products, which are operated in the standard regulatory environment and allow to lose on them just as much or more than on cryptos.

Risk tolerance is the keyword. Individual trait.

Untrue statement. – Garth

#113 namename on 02.07.18 at 10:27 pm

here is what I don’t get…so in 2017 peak hit and everything went up by 34%. Before that there were bubbl-ie gains but that is just stupid. How and why all of the sudden is everyone who prior to 2017 were quite happy that their purchased in 1998 $250K suburban 2000K square foot home was up in the 700s now buthurt that it is falling from its irrational 2017 1.2 mil level. Like somehow in 1 year they grew sooooo attached to that 34% gain that they can’t conceive of losing the “value of their home” like somehow a 500K plus growth is now shitsticks and the market WON’T EVER CRASH cause they NEED that 34% one year growth, logic has gone straight out the fucking window. I get the morons who bought at peak but I am talking some of my older boomer friends and family who are like NO MY HOUSE IS WORTH 1.3 CAUSE 2017 THIS IS NOT A BUBBLE, slow your roll two years ago you were gleeful it was friggin $600K now somehow if it falls back to that you have been robbed? “say what”?

#114 Josh on 02.07.18 at 10:37 pm

Markets don’t fall just because they go up. The underlying economic fundamentals need to wither, affecting productivity and corporate profits. There is no reason to suspect a crash, but corrections will be normal and healthy. – Garth

Garth, I hope so for all of our pension’s sake, but when the POTUS Trump start’s to want to take issue with the market’s recent volatility I will step aside and reduce exposure for better or worse.

http://money.cnn.com/2018/02/07/investing/trump-stock-market-response/index.html

Thanks for your sage advice and bringing financial light to the masses.

Josh

#115 akashic record on 02.07.18 at 10:37 pm

I guess it’s a very useful skill to have a background in constitutional law when the goal is to hack the the political system.

https://www.zerohedge.com/news/2018-02-07/fbi-lovers-new-texts-expose-obama-complicity-he-wants-know-everything-were-doing

#116 Smartalox on 02.07.18 at 10:38 pm

@Flop #91:

That house on 15th l?e in Burnaby ooks like it’s well on its way to losing the better part of a million dollars, if the trend of selling at 20% below assessed continues.

Crow’s and mosquitoes come along free of charge.

#117 acdel on 02.07.18 at 10:38 pm

#106 IHCTD9

454 cid in my time, too funny! Actually the 8-track days were more my parents but I certainly experimented with them; yep, threw out my fair share of cassettes out the side window, could not drive 55 and paid for it!

#118 NotLegalAdvice on 02.07.18 at 10:51 pm

Investing in crypto is like being at a casino. Sometimes you’re up, but most of the time you’re down.

I didn’t invest a lot into crypto, a few hundred bucks to see what the big hype was. Used a credit card and was surprised I wasn’t charged cash advance fees…..but that’s all about to change.

Save your money, house prices may drop this year …..hopefully.

#119 45north on 02.07.18 at 10:53 pm

We now know one in five people who bought Bitcoins, the non-currency and digital sinkhole, did so on their credit cards. On Friday all major US card companies cut off crypto purchases. Simple reason – they think they won’t get paid back. Fair bet. Expect Canadian banks to do the same shortly.

we didn’t get the paper this morning – delivering newspapers in Ottawa in winter is the worst – it’s cold and dark. Anyway, Mogo takes out full page ads. The pull is bitcoin:

https://www.mogo.ca

what they’re saying if you become a member they put your name in a pot and if they pull it you get a bitcoin. In the meantime you could hang out at Mogolounge. “meet the T.O. bank made for hipsters”. They’re not saying that Mogo will act as a bitcoin exchange. That’s not what they’re saying.

#120 45north on 02.07.18 at 10:55 pm

Lost but not leased:

One of the keys was Germany accessing oil resources in Turkey, the transportation corridor would be through what was Yugoslavia. The assassination took place in Sarajevo as a means to create turmoil in this crucial region and drag Germany into a war, thus neutralizing an economic competitor .

Christopher Clark wrote the book The Sleepwalkers, How Europe Went to War in 1914. In it he documents the assassination of the Archduke Ferdinand by the Black Hand a nationalist Serbian group. The index has an item – France, financial backing for Serbia. Here’s an excerpt: “The French backed him up by hinting that a post-Pašić government dominated by Independents and members of the military party might no longer receive the lavish Parisian financial backing that had sustained state investment in Serbia since 1905”. Page 46. The assertion that “the assassination took place in Sarajevo as a means to create turmoil in this crucial region and drag Germany into a war, thus neutralizing an economic competitor” has no basis of fact.

Fake News: history is “re-written” by the victors of war.

From the Introduction: “Each of the belligerent states produced official multi-volume editions of diplomatic papers, vast works of collective archival labour.”

“In short, the great European documentary editions were … munitions in a world war of documents.”

And now we’re in the world of the internet – an exponential increase in knowledge, opinion and falsehoods. It is from this cacophony, that God will sift the truth from the lies.

NoName: who supplied historical links: do you speak Serbian? Reading about Serbia was hard because I couldn’t pronounce the names.

#121 Ace Goodheart on 02.07.18 at 10:55 pm

Tesla will be the next tech wreck. Lots of problems coming down the pipe. It’s hard to build cars. Even harder to mass produce them. Just ask John DeLorean (or Malcolm Bricklin).

In other weird and wacky news, we now once again have a Ford in the running for a political office. So we hear the usual, drain the swamp, get rid of the insiders, clean things up with Javex and elbow grease. But this guy is weird. He is talking about his own political party (the conservatives) that he wants to clean up, drain the swamp and Javex out the undesireables.

He is attacking his own party. Not the Liberals. He hasn’t even said a word about them. He is after the conservatives (ie, his party).

Someone needs to get this guy a compass. Don’t ever let him play defence for your hockey team. Could be pretty disasterous.

#122 down_boy on 02.07.18 at 11:03 pm

Trudeau is preaching carbon taxes while trying to ram a pipeline from one province through another province that doesn’t want it.

The debate is escalating. Both sides are entrenched. Will Trudeau threaten to use force? Is this the new “peoplekind”?

Lets look at the stats… BC has CFB Comox and a fleet of cf-18s. Alberta has Cold Lake and a few of their own jets. While BCs CFB shipyard at Esquimalt would be useless, it could be defensive if Alberta pushes through to the coast. More concerning for BC would be Alberta’s mobile forces in Suffield,, Wainwright and Edmonton. BC does have the Rockies, mountain passes, and extensive terrain as a deterrent. Alberta is landlocked and will have to make a push by drafting most of it’s voting age citizenry. BC only has to anticipate and immobilize excursions into its territory. I think BC can hold out long enough to drain Alberta’s resources while converting its own equipment to natural gas, or a wine derivative. Trudeau might call in his oil cronies, thus involving the US military complex…bad news for BC, unless they can align with Quebec, the UN, and get environmental forces to flank Trudeau and his cartel. This could be Trudeau’s legacy? Kind of like Bush and Iraq, or Obama and Syria, or Trump and California. Will Trudeau come to understand the peoplekind of BC? Will Albertans? Will an innocent pipeline company caught in the middle find new horizons to plough? Will Ontario condo prices rise again?

Bitcoin doesn’t have the same caché as it did in 2017.

#123 akashic record on 02.07.18 at 11:06 pm

Bitcoin functions as a virtual Switzerland, that wasn’t touched during any of the world wars. It was the Plan B place to go for the elite of all war parties.

#124 Long-Time Lurker on 02.07.18 at 11:11 pm

#27 james on 02.07.18 at 6:37 pm
for those who care
Wounded Canadian Veteran Confronts Trudeau

https://www.youtube.com/watch?v=PwXl1Hs3V-o

>Total disgrace.

#125 darealdealz on 02.07.18 at 11:16 pm

Garth,

On behalf of peoplekind, all living things, and inanimate objects, I thank you for pointing out that if it is virtual, it ain’t real. My chair personally thanks you.

#126 ben on 02.07.18 at 11:16 pm

at an evening class tonight when i mentioned i think I’ll hold off buying for a while. Someone pipes up “no prices will go up”. Their spouse is a realtor.

One truly is never more than 10 feet from a realtor or their goddamn parrot accomplice.

Regarding bitcoin – here’s what differentiates it from CAD or other sovereign currencies. It’s not the “unit of exchange” crap the kids trot out.

You are compelled to pay your taxes in CAD. You have to get CAD. You might think it’s going to go down. Or up. Or sideways. But you have to get CAD.

Or they will put you in jail.

Bitcoin does not have this. This is what gives a currency value. Everyone in 1800 would have understood this.

#127 blackfriday on 02.07.18 at 11:17 pm

I sold all of my magic beans just before the the big downhill slope into poverty. I now have a large weighting in Pokemon playing cards. I will soon be writing a book on how to turn millions of real estate into a few dollars hard cash.

#128 Pete on 02.07.18 at 11:22 pm

Lots of talk and lots of news, but nothing is really changing for the everyday lower middle classer. Even house prices are pretty much unchanged since November.

#129 Lost....but not leased on 02.07.18 at 11:30 pm

#120 45 north

The Black Hand assassin..more than meets the eye.

Voltaire had a saying re if you want to know who controls you, then determine whose name you dare not speak of.

Your rebuttal makes no sense…it talks about France but no motive…

The background to WW1 was the Bolshevik Revolution, irrefutably funded by NYC bankers. Recommend “In The Shadow of Hermes” excellent reference.

Germany stood in the way of the Communist takeover of Europe. In WW1, NO enemy soldier set foot on German soil.

Treaty of Versaille , which was supposed to create peace and quid pro- quo…instead guaranteed WW2…whose goal was to finally take out Germany and remove the last resistance to Communism.

#130 sleepingdragon on 02.07.18 at 11:35 pm

I liquidated all of my holdings in magic beans prior to to downhill slide. I purchased some Pokemon playing cards with the winnings. Seriously though IBM would be a safe bet if one wants to get in on the block chain technology.

#131 darealdealz on 02.07.18 at 11:37 pm

#104 IHCTD9 on 02.07.18 at 9:36 pm
Yep, physical exertion and adverse work environments extend your mental and physical boundaries after a while.

I worked with a 60+ year old guy in construction when I was a kid, it was incredible how hard this guy could work – all day. I was a teenager and had to haul @ss to keep from looking like a wet noodle.

Another job had me working with a masonry crew laying block. There was a guy about 50 who was a life long mason, and he was a beast! Forearms were like Popeye, strong as an ox, real hard to keep him supplied with blocks.”

Dont forget the Wallenda-esque roofers, who would climb up a ladder with a bundle of shingles in one hand and a brewskie in the other……true heroes!

#132 A Yank in BC on 02.07.18 at 11:39 pm

#110 IHCTD9
“Musk is SO FAR BEHIND with C series production it isn’t even funny.”

Excuse me.. what is a Tesla C? Did you mean to say Tesla 3? Oh well.. why bother with accuracy and facts when all you intend is to demean and slander others while staying anonymous.

Oh.. and btw.. what have you done to try to change the world for the better in your life?

#133 Lost....but not leased on 02.07.18 at 11:40 pm

#93 NoName

I am fully aware of Black Hand assassin…Gavrilo Princip

The issue is one has to research W–H–O he really worked for….then it all makes sense.

#134 morrey on 02.07.18 at 11:57 pm

@For those about to flop
I have said before and i’ll repeat it again. Your posts are totally senseless. Stop wasting the bandwidth!

#135 morrey on 02.08.18 at 12:01 am

@akashic record

what a moronic statement!
I inherited 1000 shares of RBC, which were bought by my uncle in the 1950’s.

Dividends baby!!

#136 Smoking Man on 02.08.18 at 12:39 am

You know it’s game over when the Toronto Star tells T2 to shut his mouth.

https://www.msn.com/en-ca/news/politics/vinay-menon-for-the-sake-of-peoplekind-justin-trudeau-needs-to-shut-up/ar-BBIPCmN

#137 Booty Call vs Margin Call on 02.08.18 at 12:45 am

@50 Miss Pink Snow

5691 Jaskow Dr Richmond
Paid 1.9
Sold 1.58

XXXXXXXXXXXXXXXXXX

I’m very skeptical the seller accepted that much of a loss. If the seller was a home flipper then most likely there was a cash transfer on the side. Flipper claims a tax loss, buyer get a slightly better price but at a higher price than what is recorded in the books. win-win for both parties. Get to know some people in the business and this scheme is more common than you think.

#138 crowdedelevatorfartz on 02.08.18 at 12:48 am

#51 Anon
“He who loses less, gains.”
+++++

Ladies and Gentlemen
The 119th Rule of Aquisition according to the Ferengie

#139 Anonimouse on 02.08.18 at 12:51 am

Hey those aren’t doggie pictures….

#140 NoName on 02.08.18 at 12:52 am

#120 45north on 02.07.18 at 10:55 pm

I tried looking into provided links, but I got bit conveluted, so gave up and went straight where truth is internet forums.

Funny thing is reading Croatian vs Serbian spin on same ever, event is described exactly same but conclusion is very different… There is a i worked with guy at my privius job he had bach deg in history, all he red was chess almanachs and history books, I think he is only few pints short of chess master, he was go to guy for me when had questions or two. I remember he would always read books that cover before WW1 to end of cold war. I remember when he borrowed me mitrokhin archives first book, I could wait too get hand on second one that came some time later…

There is University professor in BC Gordon Martel that is very knowledgeable about all issues leading up to WW1, get hold of some he’s book that should be impartial view of events.

#141 Angel on 02.08.18 at 12:56 am

Garth nice pic at the end but if you want to know the truth behind that pic we’ll as much as is available watch here my friend…

https://m.youtube.com/watch?feature=youtu.be&v=GFdVZyGUwI8&list=PLHSoxioQtwZeQaRnO5_9AJB2RmevUpuPT

#142 Nonplused on 02.08.18 at 12:57 am

#82 fishman

Not saying everyone from BC is crazy, there are some very good people there. Generally the farther you get from Vancouver the better they are and stay the heck off the island.

People who live in say, Prince George, for example, have some idea what it takes to make a living and what happens when the mill shuts down. The smartest of them headed for Alberta because working remote was something they knew you have to do if you have to do. They were a benefit to our province but I am not surprised that they are now considering returning home. The Alberta advantage is gone.

Meanwhile we are looking at almost a foot of snow in 24 hours if the forecast is to be believed here in Calgary, so the office occupancy rate tomorrow will drop from about 70% to maybe 25%. Can you believe 30% of downtown Calgary is uninhabited and vacant? It’s crazy. Just a few years ago the whole skyline was cranes but now it’s just a few condos they are finishing up. I wonder where all those cranes go when they aren’t dotting the skyline. Do they “stack” them like oil rigs? Are there fields in the middle of nowhere now littered with cranes lying on the ground? And it needs to be remembered each of those cranes represents 100’s of jobs. The guy that used to bring the concrete isn’t working anymore either and neither is the guy that fixed the concrete truck, let alone the folks that built all the forms and such. Cranes go up when the economy is good, and when they disappear the economy is bad.

#143 paulo on 02.08.18 at 1:01 am

Thinking the real deal ” Rocket Man” is a good medium risk investment,putting a car in space; bit out there.
having a proven heavy lift, 67 ton payload rocket:
Priceless. this falcon has almost double the payload of
previous examples and considering space is the next frontier ponder the possibilities.

#144 NoName on 02.08.18 at 1:02 am

And to answer that question of yours, ja говорим и пишем српски језик.

#145 westcdn on 02.08.18 at 1:14 am

Off topic and a rant on.

I avoid peoplekind who have a propensity to cheat. I just can’t bring myself to trust them or want to be like them. There is nothing courageous about looters and they exist at all levels of society. Few peoplekind will admit they are lazy and selfish yet justify their actions. This article triggered me.

https://www.theatlantic.com/magazine/archive/2018/03/stealing-from-self-checkout/550940/

Nearly 20% admitted to stealing at self-checkouts . I imagine a like number didn’t admit theft. The book “Wolf of Wall Street” implies a similar profile exists at the top societal levels. The only difference between the haves and have-nots is a matter of getting your hands dirty.

T2’s recent performance at the Nanaimo town hall meeting appalled me with being a “legend in his own mind”. I will stick with one point. T2 told a former soldier who lost a leg while carrying out the will of his superiors that there was no more money to assist him. I am disgusted since T2 has given billions to fruit loops. Why is a soldier considered less than any other so called first responders? Oh, I guess it because soldiers are rarely feminists or have a sjw agenda.

Rant over.

I picked up a few preferred shares today. I think the US Fed will run into trouble if they raise the bank rate more than another 1% given quantitative tightening and increasing budget deficits. I expect a ¼ increase in March. I am done for now with rebalancing and will sit on my hands collecting dividends till the next US Fed interest rate announcement. I can do this in any country to cheat being an overtaxed peoplekind.

#146 Nonplused on 02.08.18 at 1:34 am

#82 fishman

Actually one more comment on people from BC especially the rural folks.

Right after I graduated I ended up as an “Engineer in training” on a bridge project in BC (it’s the one that goes from town over the river to the reserve). My boss and I rolled into town from Alberta to do the job and we were instant celebrities. We had to bring in a couple of experts from the US to deal with the piling but in general there wasn’t anybody from town or nearby that was going to miss out on the opportunity to get in on this. The natives got in on it too, their only request was when possible to work on their side of the river for tax reasons. But anyway we were able to source almost everything locally no further away than Kamloops except the big steel. Chase was at that time pretty much all tourism and logging, both sporadic, so when a big job came to town pretty much everybody seemed to be able to find their work boots.

That gives me an interesting reflection on some of these public works. I an mot talking about a frivolous new stadium or something like that, but in this case the old bridge was wood and it was about to fall down. But replacing it for the most part was done by local labor. We brought in some expertise and a crane and a 966 and some steel, but pretty much everything else was local. Even the lady that had the lunch truck made out like a bandit.

People have to stop fearing “business”. When Garth opens an ice cream store, jobs appear where before there were none, even if it’s just for the youth. They can’t deliver papers anymore, so they need something. When a factory comes to town, jobs swell, little league baseball diamonds are full and a new hockey rink appears. When the mill shuts down property values fall, the sky seems to dim, and the town can’t afford snow removal anymore. Sure that smell goes away but it was part of the bargain. I just don’t get why so many people don’t understand this. If you don’t work, you don’t eat. People that organize labor are a blessing not a curse.

And I think culture is a big part of it. There are countries where having 4 wives is normal and people defecate on the ground because there is no sanitation, toilets, or running water. In these countries you can’t really open a business because everything gets stolen and the government is corrupt. Ideas are important. Hard working, inventive, creative, scientific people working under a relatively free economic environment is what built western society. Destroy that and western society will not survive. There is no reason we can’t become the Venezuela of the north if all this liberal crap keeps up. They have a lot of oil and a lot of land too. And it’s warmer there. They can grow bananas.

#147 Newcomer on 02.08.18 at 1:54 am

https://www.ft.com/content/8cb9f0fa-0a61-11e8-839d-41ca06376bf2

We made The Financial Times.

“Canada’s housing market flirts with disaster
A cocktail of loose lending, overseas cash and mounting household debt has triggered concern of an overheating market”

#148 n1tro on 02.08.18 at 2:07 am

John McAfee reaffirms he will eat his own dick if 1 Bitcoin isn’t $1M by 2020.

https://www.rt.com/news/411379-john-mcafee-bitcoin-prediction/

In the unlikely event Bitcoin is worth that much, I guess everyone else eats humble pie.

As for the banks cutting off credit card funding crypto purchases, the last thing they fear is not getting paid back. With a limit of $250/week deposit limit on coinbase, that’s $13K for the year. How is the risk to the banks any different than someone using their credit card to fund their online poker account every week when Texas hold’em was all the rage?!

Smacks of desperation to me because credit cards holders with large limits are given credit based on their ability to pay back the loans. How does this change based on what they buy especially if the are making regular payments?

#149 so glad I sold on 02.08.18 at 2:45 am

Looks like 8091 Lucerne Road in Richmond Bc is hoping to sell. Picked up in January, 2016 for 1,188,888. Originally listed before Christmas for 1,680,000 and it is assessed at 1,938,400, then removed the listing and relisted at 999,000. Good sized lot at 7981 sq. ft. But the rancher is on a T. Too bad. Have noticed some sold properties where the sold sticker has been removed as I guess the deals fell through. Should be very interesting in the months to come.

#150 Howard on 02.08.18 at 4:03 am

#21 SunShowers on 02.07.18 at 6:32 pm

“As stated before, it’s not different this time.”

Bitcoin has crashed and lost over 50% of its value how many times now?

——————————–

Precisely once before. Are you incapable of looking at a chart?

I am disregarding the pre-2012 period when next to nobody knew about this vehicle.

There was a peak of $1200 in 2013 which subsequently lost 80%. It took 4 years to regain that $1200 peak and then took off in a mania.

If you want to know Bitcoin’s future, pull up the 10-year chart of Molycorp or any other rare earths miner. Witness the 2011 spike and then epic crash (Molycorp itself declared bankruptcy a couple years ago).

#151 Bad Cowboy on 02.08.18 at 4:11 am

Talk about reckless investing in the future…..isn’t the election of our Fairy Princess PM exposing a similar failing of the mindset of millennials who voted for The Vacuous Sock Puppet……BiteCoin and Trudeau…..all fluff and hype….no substance.

Bitecoin is going to zero and so is Trudeau’s poll numbers….but here’s the sad and terrifying difference….a few bitecoiners get burned and will hunker down in Moms moody bsmt to lick their wounds…..but Trudeau is actually tearing Canada out of the ground by the foundations. He’s the political equivalent of the bubonic plague on the economy. No matter what the unions and CBC will tell us with phone numbers…the fact is that spilling 100 billion on the balance sheet and hiring hundreds of thousands of politically correct colour coded civil servants from religious ethnicities Trudeau can’t spell is not an economy….its a disaster.

Now Trudeau’s senior advisor….the failed Democratic Party campaign advisor David Axelrod has set up a foundation funded by George Soros in Chicago alongside his ex bosses library….the nefarious manipulator Barack Obama. Trudeau is speaking there and stating Obama’s preferred position that Canada should kill NAFTA so that the Democrats can use it as a center piece in the US midterm elections.

There has been a flurry of failed Democrats hurrying in and out of Ottawa….Biden, both Obamas and Bill and Skillery Clinton…..all to convince our boy blunder to face off with Trump to allow a public relations gambit to play out. George Soros is happily funding all this ….even though our boy blunder gave 250 million Canadian tax payer dollars to the Clinton Foundation…..who….surprise surprise….are making millions in donations to a Trudeau’s re election slush fund…..the Pierre Trudeau Foundation…..how scummy and neat.

Hundreds of billions in foreign capital has already flooded out of Canada. Trudella has made it abundantly clear that Canada is an American Democratic apartheid controlled dictatorship and no businesses will be allowed to invest in our resource industry. David Axelrod, George Soros, Gerald Butts and Trudy the Goofball…..are Canada’s four horsemen of the apocalypse. Do you wonder why the Canadian stock exchange is experiancing another year of malaise? If you were a global investor, would you touch Canada with a ten foot pole? Free trade with our best friends is dead according to Trudeau at his Chicago venue today……the dictatorship of China is what slipped out of Fart Boys lips not so long ago…..and why…..because Americans don’t want competition from Canada and they want to use our country to look like a Trump victim…..and Trudeau is all for that.

As far as it goes as an investor, I’m all in to the “Buy American” story….and the dividends are just as sweet….don’t be a fool….leave Canada.

#152 SyFetal Hashish Syndrome on 02.08.18 at 6:54 am

#23 Compulsory Ritalin medication to create the first Post Male State on 02.07.18 at 6:35 pm
===================
I thought I knew satire when I saw it but I’m no longer sure. Especially after T2 pronounced we are all “peoplekind”.
I was never a fan of T1 but he was definitely macho. Somewhere in a Catholic heaven, T1 is facepalming.
—————————————————————–
Next exposé will be titled “Symptoms of Fetal Hashish Syndrome” if Garth doesn’t think he’ll be called into the local CRA office for an unexpected “audit”.

It’s true. You can’t make this stuff up…..

#153 ben on 02.08.18 at 7:04 am

https://www.google.ca/search?q=ft++Canada%E2%80%99s+housing+market+flirts+with+disaster

Click through to the first hit.

Even The FT can see Canadian housing is screwed. Normally they have one guy who always does kiss-ass stories on Carney. Not this time!

Love it:

Many also note that mortgage books at the big banks look rock-solid. Royal Bank of Canada, for example, which recently joined the club of the world’s most systemically important banks thanks to years of rapid asset growth, had a Canadian residential mortgage portfolio of an average C$231bn in the year to October. But provisions fory credit losses were just C$33m — or one one-hundredth of 1 per cent.

#154 Rooster on 02.08.18 at 7:08 am

#75 acdel …….. I have come across one that may interest a few people. By no way am I affiliated or pushing this stock; do I own it, yes, purchased it last year in the pennies. It is a very interesting new lens technology that could revolutionize the lens market. Your choice, here is a link to the company. https://nexoptic.com/
†**************

It is difficult to see exactly what this company is actually developing from their website. It is clear from the seductive images that somebody has a Psych degree. The patent* provides the details. The assignee is the company president who has no technical education, although his brother is a mechanical engineer and both worked at a now defunct company selling household appliances.

Peering deeper, their Blade Technology® uses an optical trick that increases magnification by lengthening the light path between two lenses by reflection within a prism. It has been used in binoculars forever. This gizmo is not as simple as that, as it includes image processing to correct the chromatic aberration or colour separation – remember the prism from high-school?

I am not sure why the same techniques use in binoculars can’t remedy this, (other than already being patented), but the software might work better someday. IMHO it will never work in a cell phone that you can hold in one hand. Unless we become a nation of stargazers or naval gazers my advice is a strong sell.

*https://www.google.com/patents/US9759900

#155 Victor V on 02.08.18 at 7:23 am

32% of Canadians are nearing retirement without any savings: Poll

https://www.bnn.ca/32-of-canadians-are-nearing-retirement-without-any-savings-poll-1.991680

#156 under the radar on 02.08.18 at 7:25 am

How much do you need to retire ? Seems those Canadians polled thought 756k was the magic number. (Of course depends on what retirement income a person will need to maintain their lifestyle). If your reading this, exclude the equity in your home and account for income tax on your RRSP. Oh, by the way what does retirement mean for you.?

#157 Ace Goodheart on 02.08.18 at 7:51 am

Re John McAffee: He’s kinda nuts (pun intended). Too much sun and tropical babes.

Re Tesla: a massively over valued profitless company with no potential for future earnings and a product line that apparently has quality issues similar to those of a 90’s Kia

#158 Elon's Musk on 02.08.18 at 7:57 am

He is irresistible, #1 money & #2 funny.
I was looking at the Model 3 cuz daughter’s beau has one on order, and our Civic won’t last another decade. Half the cost of gas to run (vs rural peak rate) and the Ontario rebate is ridiculous, so maybe a buy? The devil is in the details:

Driving range is reduced in cold weather (e.g. Canada). How much? Not enough for Tesla to post, although model S data is available. Model 3 info is anecdotal from owners and range reduction is 30 – 50 %. Not a problem for city rats who never leave their congested burrows in winter. Going far? Just juice up along the way. Except the 3 does not have a battery warmer like the model S. So no quick charge in winter. Plan to kill some time at the Voyageur.

OK …. so what about that cheap electric “gas”. If the range is cut in half the cost per km is the same as gasoline, at least till Wynne is ejected. I still think it’s a sexy car, but I just can’t afford it.

#159 Jorge on 02.08.18 at 8:02 am

“The battle to clean up B.C.”

http://www.macleans.ca/news/canada/the-battle-to-clean-up-b-c/

“Vancouver is now a kind of free trade zone for gangland money launderers, absentee offshore real-estate speculators, Chinese princelings on the lam and globe-trotting tax frauds. Metro Vancouver is an international housing-affordability basket case and the epicentre of Canada’s fentanyl overdose crisis.”

Lots of other interesting tidbits in the article.

#160 steph on 02.08.18 at 8:14 am

It saddens me to learn I’m a reckless idiot who buy individual stocks. My mom always told me :(

#161 IP Nightly on 02.08.18 at 8:20 am

DELETED

#162 Courage and Poo on 02.08.18 at 8:23 am

So many super-smart dumb people. – Garth

Couldn’t agree more. I say good day sir!

#163 maxx on 02.08.18 at 8:40 am

So many people get sucked in by these bull$hiteous, mystery-encrusted, soundbite designation idiot magnets.

I’d love to be a fly on the wall in boardrooms of the baseball cap and sneaker set, cloud-shoveling and volleying trendy, snappy and glib marketing ideas destined exclusively to suck in the most fools possible.

Hmmm……a rocket-propelled “investment” with a built-in fulcrum to overturn the status quo of capitalism – ambrosia for mills.

Snake oil in aisle 3, 4, 5, 6………………..

#164 Preferred Embodiment on 02.08.18 at 8:46 am

#56 Suede on 02.07.18 at 7:48 pm
..seriously, I can’t stop laughing at Trudope
Who voted for this guy (err.. Person) , be honest?
*********

I voted for Trudeau (I and II) and will again. He’s ageless.

“Democracy is the theory that the common people know what they want, and deserve to get it good and hard.”
H. L. Mencken

#165 Atrizzy on 02.08.18 at 8:51 am

Wow… first time glancing at the comments. Lots of nutjobs in here, Garth.

#166 TurnerNation on 02.08.18 at 8:52 am

Life in Kanada means Kognative Dissonance.
CBC new Web site this am had four headlines blaring ‘gender’.
But anyone may become Prime Minister of this land…as long as they’re male and tied to Quebec.

One set of laws for tax slaves, no laws for elites.

#167 Renter's Revenge! on 02.08.18 at 8:52 am

#155 under the radar on 02.08.18 at 7:25 am

“If your reading this, exclude the equity in your home…”

It’s pathetic that people even need to be told this.

#168 Bytor the Snow Dog on 02.08.18 at 9:00 am

Nonplused at 145 sez:

“There are countries where having 4 wives is normal and people defecate on the ground because there is no sanitation, toilets, or running water.”

EWWW! Gross!

Four wives?

#169 Bytor the Snow Dog on 02.08.18 at 9:01 am

I didn’t know Tesla had a topless model.

The driver better be wearing SPF4000000000 sunblock. The sun can be strong up there. Real strong.

#170 dosouth on 02.08.18 at 9:05 am

For those about to fail….be great to see you get an actual job.

Musk just made 5 million for his Boring company selling over the moon cigar lighters. He is funny and quite the snake oil salesman. None of this is going to end well.

Sounds like our future is safe….. BWWAAAHHH

Spark it up….fool.

#171 Dylan Tate on 02.08.18 at 9:08 am

#73 common sense on 02.07.18 at 8:27 pm
On a more serious note…have to love my US based financial advisor who I must have because I live in Canada.

Send an urgent message yesterday to sell my inverse oil price fund because it’s “Highly dangerous, you don’t know what your doing with 3x leverage and it could go out of business like the Inverse VIX ETF fund that did yesterday..”

Funny, the rat bastard aka little prick never said a word the past few months when oil when was going through the roof, he was still getting his comission for doing dick all, I was losing my shirt but yesterday he has my future to think of? People.

And today I regained 9% and feel I will be at least break even sooner than later.
—————————————————————-
If you’ve been holding a 3x daily return ETF for several months, you obviously don’t understand how it works.

#172 update re., XIC on 02.08.18 at 9:18 am

posted a swing trade on Canopy Growth about a month ago and I will post my second swing trade now (some said I ‘was lucky’ with said trade)

as we all know the TSX has been in free fall– each day a lower high, lower low. EIGHT straight days since a bearish engulfing pattern formed. Took a position today at 3:50 pm. Half of a position– strong rally into the close, huge volume and a green candle. Am expecting tomorrow’s candlestick to have a higher high and higher low– if so i will ADD the other half to make it a full position at 3:45 pm Wed

like my chances at nailing another swing trade. I’ll post win or lose (stop loss is in, can’t lose more than 2% of my trading account). Todays post is on Tuesday Feb 6th.

have a good night!!

…………….

like taking candy from a baby

#173 Triplenet on 02.08.18 at 9:24 am

#122 down_boy

CFB Comox has a fleet of CF-18’s ….really?

#174 Midnights on 02.08.18 at 9:26 am

Great article…
Thanks
#152 ben on 02.08.18 at 7:04 am
https://www.google.ca/search?q=ft++Canada%E2%80%99s+housing+market+flirts+with+disaster

Click through to the first hit.

Even The FT can see Canadian housing is screwed. Normally they have one guy who always does kiss-ass stories on Carney. Not this t

#175 Midnights on 02.08.18 at 9:52 am

RBC…

Canadian housing starts remained strong to start 2018
Our Take:

Canadian homebuilders didn’t seem to be impacted by a cold January as starts held up at a relatively strong 216k annualized pace. That follows decade-high housing starts last quarter and in 2017 as a whole. We doubt last year’s 220k pace can be sustained but the underlying trend in homebuilding is clearly stronger than some household formation data would indicate. New construction has been solid despite slower home sales last year, though a pullback in single unit construction in Ontario relative to a year ago does seem to reflect softness in that segment of the resale market.

We expect housing starts will slow below a 200k pace this year, though yesterday’s reported pickup in permit issuance in December indicates homebuilding could remain above that pace in the first quarter. That said, we do expect some payback in terms of residential investment following what looked like a strong Q4/17. Activity late last year was bolstered not only by solid housing starts but also by a surge in resales as homebuyers rushed into the market ahead of a regulatory change that took effect in January.

Highlights:

· Housing starts came in a bit stronger than expected in January, holding steady at December’s revised 216k annualized pace.
· Both single and multi-unit starts were little changed from the previous month.
· The six-month trend in starts edged up to a decade high of 227k.
· Housing starts remained volatile in Ontario, rebounding strongly in January after a sizeable dip in December. That offset declines in BC, Quebec and Atlantic Canada to start the year

#176 Smoking Man on 02.08.18 at 9:56 am

Whenever a liberal state, province or country puts up obsticals for getting it’s oil to market means one thing 100% of the time.

Saudi money.

And the media will blame the russians for everything.

#177 IHCTD9 on 02.08.18 at 9:57 am

#157 Elon’s Musk on 02.08.18 at 7:57 am
He is irresistible, #1 money & #2 funny.
I was looking at the Model 3 cuz daughter’s beau has one on order, and our Civic won’t last another decade. Half the cost of gas to run (vs rural peak rate) and the Ontario rebate is ridiculous, so maybe a buy? The devil is in the details:

Driving range is reduced in cold weather (e.g. Canada). How much? Not enough for Tesla to post, although model S data is available. Model 3 info is anecdotal from owners and range reduction is 30 – 50 %. Not a problem for city rats who never leave their congested burrows in winter. Going far? Just juice up along the way. Except the 3 does not have a battery warmer like the model S. So no quick charge in winter. Plan to kill some time at the Voyageur.

OK …. so what about that cheap electric “gas”. If the range is cut in half the cost per km is the same as gasoline, at least till Wynne is ejected. I still think it’s a sexy car, but I just can’t afford it.
_____________________________________

I ran the real numbers on a Tesla S based on year around driving .25/KWH cost (prior to Wynne fair debt program) charging losses, winter temp losses, snow/slush/dark losses in efficiency.

Tesla S in Ontario costs the same to run as a Honda Civic, so about the same as any car getting a real life 35 mpg combined.

Car costs 100K+, Wynne fair debt program ends in 4 years and hydro will climb to .35+/KWH minimum. Outlook in this province is you will not save a dime running an S over an econobox gasoline car – forget about a diesel.

When the battery dies, the car is scrap.

#178 Ian on 02.08.18 at 9:59 am

#50 Flop

Flopsy, as always, love your data points. You are starting to see some serious declines. I knew this was coming!

Keep up the great work!

M48ON – UltraBlues

#179 Ian on 02.08.18 at 10:10 am

US 10 year yield at 2.88%! Flying today!

only 12 points away from my 3% prediction for this week.

30 year auction coming later. Going to be a gong festival.

https://www.marketwatch.com/investing/bond/tmubmusd10y?countrycode=bx

#180 akashic record on 02.08.18 at 10:28 am

Welcome to the buttworld, where humble buttfinancial geniuses work tireless to unlock buttmagic values and buttsynergies by spinning up new buttderivatives, just doing buttgod’s buttwork.

Under the watch of the Fed’s buttmaistros, who craftfully shape the buttbalancesheet of buttmoney while awake, and sleep with buttfireestingusier under their pillow, ready for the next healthy buttshithole correction, while dreaming about buttfairies selling their buttmagicians buttknow-how to buttunderdeveloped continents to make buttpeoplekind wealthier and wealthier in buttdebt.

Try putting your creativity to work saying something useful. Or go. – Garth

#181 Elon's Musk on 02.08.18 at 10:50 am

#176 IHCTD9 on 02.08.18 at 9:57 am
#157 Elon’s Musk on 02.08.18 at 7:57 am
I was looking at the Model 3 …Driving range is reduced in cold weather ….. if the range is cut in half the cost per km is the same as gasoline…..
_____________________________________

I ran the real numbers on a Tesla S based on year around driving .25/KWH cost (prior to Wynne fair debt program) charging losses, winter temp losses, snow/slush/dark losses in efficiency.
Tesla S in Ontario costs the same to run as a Honda Civic, so about the same as any car getting a real life 35 mpg combined………
____________________________________

Interesting to note that the Model S data includes driving range in sub-zero temps with the heater off. Maybe that’s what the flamethrowers are for? Volvo had an ethanol heater for their C30 EV, but I don’t know if it still does. Some EV owners are installing gas heaters ala original Volkswagon Beetle. So, for now, the Tesla is a good summer car, or good for riding the rails in Musk’s visionary ant farm (The Boring Company). What a guy!

#182 Smoking Man on 02.08.18 at 10:50 am

65 IOTA on 02.07.18 at 8:05 pm
Iota buy lota

Smoking dude made the call …he’s never wrong

Going to 100k at least

IOTA IOTA IOTA
……

Of all the block chain technology IOTA is the best hands down. 1000 bucks invested has large up side. Block chain is not going away any time soon smart ass. T2 is history. Bank on that , it’s a sure bet.

#183 Ronaldo on 02.08.18 at 10:55 am

#130 darealdealz on 02.07.18 at 11:37 pm

”Dont forget the Wallenda-esque roofers, who would climb up a ladder with a bundle of shingles in one hand and a brewskie in the other……true heroes!”
——————————————————————
I tried that once with a bundle under each arm and just as I was ready to step onto the roof, the ladder slipped. Almost killed myself. Last time I tried that stunt.

#184 conan on 02.08.18 at 11:07 am

#150 Bad Cowboy on 02.08.18 at 4:11 am

You fell for the stupid horse story, hook, line, and sinker.

It is American oil interests that are blocking Alberta’s attempts to get its oil to tidewater.

Blaming it on T2, or T1, Soros, or whoever, is just part of being a bad cowboy.

https://www.youtube.com/watch?v=PMu9G8vovZc

#185 LivinLarge on 02.08.18 at 11:16 am

“How much do you need to retire ? Seems those Canadians polled thought 756k was the magic number.”…it always amazes me that so many people go through this exercise at all.

Sure, I know it sounds like a “no brainer” of a concept but soooooo much is missing that it’s just a waste of time to try and figure out net worth required to retire. TV is starting to fill up with ads in part using this exercise in futility.

The only calculation or process that actually matters in the end is deciding how you want to live your life in retirement and then calculating how much adter tax free cashflow you need to fund it. Add in a realtively liberal “what if…” factor plus a contingency for declining health/increasing financial needs like nursing home/senior’s apt. in the future.

So, it can never be distilled down to a single figure. X net worth @ what rate of return with the income taxed at what rate. $756K in GICs (god forbid) won’t give you enough for a used Carolla even before tax.

It’s never how much you make but always how much you keep. So, the only question that actually means anything is “How much “take home” do you thnk you’ll need in retirement?”

#186 ben on 02.08.18 at 11:23 am

#178 Ian – BoE forced to make noises about raising rates today.

Raise ’em Carney, let the chickens come home to roost on your watch for once!

#187 Stan Brooks on 02.08.18 at 11:24 am

#181 Smoking Man on 02.08.18 at 10:50 am
T2 is history. Bank on that , it’s a sure bet.

—————————
T2 is here to stay.

You underestimate people’s stupidity.

#188 james on 02.08.18 at 11:31 am

#155 Smoking Man on 02.07.18 at 3:14 pm

142 Not sold on Smokies Herdonomics on 02.07.18 at 2:07 pm
#117 Smoking Man on 02.07.18 at 11:00 am
#114 conan on 02.07.18 at 10:31 am
#108 Smoking Man on 02.07.18 at 9:48 am
T2 utters one goofy out of place word, and you are ready to throw the book at him.
That’s why the present day Cons are not fit to govern. In my mind you represent everything wrong with them.
Earth to Smokie…….come in Smokie……

https://www.youtube.com/watch?v=b8l121LGlWU
…………………………………………..
Dude if you go into the archives you will notice I chirped Harpo if not more that T2.
My perspective is based on Herdonomics. That’s why my calls are so damn accurate.
I’m just marking a place holder in history where I can come back to this post in the future and brag about being right yet again.
I do admit I like triggering the radical lefty loons as like your above post

Dr Smoking Man
P hD in Herdonomics
__________________________________________
If you calls were so damm accurate then how the hell did you, lose your big shot job at RBC, loose your home when you couldn’t get an extension on your Home Equity Loan, almost lose your life in a drunken stupor, loose your friends and family, loose your mind. Oh sorry you didn’t loose your mind that’s just the way you are!
Explain those misses on your calls. Didn’t you see them coming? By the way your right its all here on the blog. You even lost your real name, or is it is your real name?
…………………………………………………………….
Come on James use you handle.
FYI last job I ever had was in 1989. Been self emplyeed since. Your above post us some what accarte and I’m not ashamed either. Deal with those apples toots.
Do you think outing me as a complete loser and failure bothers me in the leased.
In spite off having smoking man posts tapped all over your walls.
You don’t know me. You only know what I have project.
;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;
You are correct Smoking Man I don’t know you nor would I ever want to know you. I have a life with a wife and three little ones plus a company to run. However I can not take credit for this post I did not post it. I do like it though!
I am however glad you are gainfully “emplyeed” as an “accarte” editor at the Daily Deplorables.
Carry on my little bitch!
Best regards,
James

#189 For those about to flop... on 02.08.18 at 11:32 am

morrey 57 pm
@For those about to flop
I have said before and i’ll repeat it again. Your posts are totally senseless. Stop wasting the bandwidth!

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

Not much going on at the brokerage?

Didn’t you get that colouring book I sent you…

M43BC

#190 Zapstrap on 02.08.18 at 11:43 am

#167 Bytor the Snow Dog on 02.08.18 at 9:00 am

Nonplused at 145 sez:

“There are countries where having 4 wives is normal and people defecate on the ground because there is no sanitation, toilets, or running water.”

EWWW! Gross!

Four wives?

Don’t forget that comes with 4 mother-in-laws usually.

#191 SunShowers on 02.08.18 at 11:55 am

#149 Howard on 02.08.18 at 4:03 am

Precisely once before. Are you incapable of looking at a chart?

I am disregarding the pre-2012 period when next to nobody knew about this vehicle.

——————————–

lol even if you didn’t arbitrarily rule out a bunch of data you’d be wrong.

Aug 2012 crashed from $15.25 to $7.50
Apr 2013 crashed from $214 to $65
Nov 2013 crashed from $755 to $378
Dec 2013 crashed from $1132 to $510
Feb 2014 crashed from $883 to $403
Jan 2015 crashed from $432 to $199

#192 akashic record on 02.08.18 at 12:00 pm

#179 akashic record on 02.08.18 at 10:28 am

Try putting your creativity to work saying something useful. Or go. – Garth

Yes Sir.

The l’art pour l’art buttcontext was kept in good balance with the other, definitely useful comment, which even shares the useful words of the Zend master. :)

Take it easy, drop your cowboy boots from time to time when it gets too tight and warm.

#193 Bottoms_Up on 02.08.18 at 12:14 pm

#16 Terry on 02.07.18 at 6:28 pm
———————-
Putting a car into space is a way to travel to China with your car in 20 minutes.

#194 IHCTD9 on 02.08.18 at 12:32 pm

“The average price reported is lower than the $10-a-gram estimate used when the federal government reached a tax revenue-sharing agreement with the provinces and territories in December.”

http://www.cbc.ca/news/politics/statistics-canada-cannabis-pot-price-1.4524891

Yep, a lot lower. I’d bet the black market will happily sell for only 5.00/gram if they started losing customers too.

So much for that cash cow. I now expect extra Billions more to be expended trying to shut down the informal distribution networks of old, so the government can actually turn a profit as the newest pusher on the block.

The more things change, the more they stay the same.

#195 Ian on 02.08.18 at 12:42 pm

US 30 year bond auction underway now (noon – 1pm).

Who wants these bonds?!?! In the immortal words of Mel Lastman / Bad Boy Furniture: “Noooooobody!!!!”

#196 For those about to flop... on 02.08.18 at 12:45 pm

Margin Call on 02.08.18 at 12:45 am
@50 Miss Pink Snow

5691 Jaskow Dr Richmond
Paid 1.9
Sold 1.58

XXXXXXXXXXXXXXXXXX

I’m very skeptical the seller accepted that much of a loss. If the seller was a home flipper then most likely there was a cash transfer on the side. Flipper claims a tax loss, buyer get a slightly better price but at a higher price than what is recorded in the books. win-win for both parties. Get to know some people in the business and this scheme is more common than you think.

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

Yeah ,you’re right.

The house I showed last week that lost 500k had a deal in place to be made whole on the side.

The other house I showed the other day that lost 400k had a deal in place on the side to be made whole as well.

No one in Vancouver will lose money on real estate ,right?

Whether you guys like it or not this correction ,no matter how minor or major ,will be recorded on this blog…

M43BC

#197 IHCTD9 on 02.08.18 at 12:48 pm

#184 LivinLarge on 02.08.18 at 11:16 am

It’s never how much you make but always how much you keep. So, the only question that actually means anything is “How much “take home” do you thnk you’ll need in retirement?”
________________________________________

Yep, and what is a balanced portfolio getting 20-30 years from now? Is gas 3.00/litre? Is hydro 500.00/month? Do my kids still live in my house?! Lots of variables.

I like to add up our combined CPP/OAS her small DB pension, and then roll thru different scenarios for the portfolio. I like to see numbers that far exceed a reasonable projection of my expenses and spending no matter how bad I set it up.

Having way too much and needing to dodge taxes is much preferable to running out of cash and eating bark to survive.

#198 Ian on 02.08.18 at 12:49 pm

#178 Ian – BoE forced to make noises about raising rates today.

Raise ’em Carney, let the chickens come home to roost on your watch for once!

————————

Damn straight! It’s coming baby.

#199 Bytor the Snow Dog on 02.08.18 at 12:54 pm

189 Zapstrap sez:

“Don’t forget that comes with 4 mother-in-laws usually.”

MY GAWD MAN THE DEPRAVITY! How low can you go mister?

#200 SW on 02.08.18 at 1:04 pm

#133 morrey on 02.07.18 at 11:57 pm
“@For those about to flop
…Your posts are totally senseless. Stop wasting the bandwidth!”

Mr. Flop’s comment is orders of magnitude more useful to me than much of the other…er…output in the steerage section. It’s not so useful to you? Sad.

It’s also not senseless. Following some interesting data almost in real time. Let’s hope he can save some fools…

#201 James on 02.08.18 at 1:05 pm

#186 Stan Brooks on 02.08.18 at 11:24 am

#181 Smoking Man on 02.08.18 at 10:50 am
T2 is history. Bank on that , it’s a sure bet.

—————————
T2 is here to stay.

You underestimate people’s stupidity.
::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::
We have elected stupid many times here in this province.

Bob Rae
Social Contract and clash with unions; Rae days; Pay equity; Affirmative action; Strengthening of rent control; anti-scab legislation; Reserve status for North Ontario Aboriginals; Moratorium on new nuclear plants; Attempted to maintain ban on Sunday shopping before allowing it; Introduction of casinos; Attempted to bring in extension of spousal benefits for same-sex partners.

Mike Harris
Common Sense Revolution; 30% tax cut; 21% cut to social assistance rates; attempted to introduce Workfare; cancelled urban infrastructure projects including Eglinton subway; cut government spending; Telehealth Ontario; Division of Ontario Hydro; municipal amalgamations, including Amalgamation of Toronto; Elimination of OAC year (Grade 13) and re-introduction of standardized testing; privatization of Highway 407; Ipperwash Crisis; teacher strikes; Walkerton Tragedy; Ontario’s Drive Clean; hospital closures and health restructuring.

Dalton McGuinty
Green Energy and Economy Act; Auto insurance reforms; Cancelled tax cuts; Increase in health spending and Health Premium tax; Transfer of gas tax to municipalities; Breed-specific legislation aka ban on/government-sanctioned euthanization of ‘pit bulls’ and dogs considered to resemble ‘pit bulls’; Greenbelt (Golden Horseshoe); Renegotiation of federal equalization; Expansion of Ontario’s Drive Clean; full-day kindergarten; MoveOntario; eHealth Ontario scandal; Harmonized Sales Tax; Ontario power plant scandal. Decreased drinking while driving limit to 0.05 from 0.08. On October 15, 2012, unexpected announcement of resignation and prorogation of legislature

Kathleen Wynne
First female Premier of Ontario, first openly gay premier in Canada; Ontario-Québec Relations (500 megawatts (MW) of peak electricity sharing); Public Sector and MPP Accountability and Transparency Act; The Great Lakes Protection Act; $30-billion investment into transportation across the province; partial sale of Hydro One; Hydro plant scandal to buy liberal riding’s, two liberal ethics trials, allowed beer to be sold in grocery stores; updated sex education in public schools; raised Minimum wage in Ontario to $14; made prescription drugs free for anybody under 25. Well there is just way to much negative stuff on this one to keep on typing.

http://www.macleans.ca/politics/how-kathleen-wynne-has-ontario-going-backwards/

#202 James on 02.08.18 at 1:11 pm

BTW I don’t care that Kathleen Wynne the First female Premier of Ontario is the first openly gay premier in Canada. That does not have any impact on a persons abilities as a leader. But you have to say she has more scandals and skeletons in her closet than any one I have ever seen. She is simply the worst leader I have ever seen, but then again there’s the people pleaser clown in Ottawa.

#203 IHCTD9 on 02.08.18 at 1:12 pm

#131 A Yank in BC on 02.07.18 at 11:39 pm
#110 IHCTD9
“Musk is SO FAR BEHIND with C series production it isn’t even funny.”

Excuse me.. what is a Tesla C? Did you mean to say Tesla 3? Oh well.. why bother with accuracy and facts when all you intend is to demean and slander others while staying anonymous.

Oh.. and btw.. what have you done to try to change the world for the better in your life?
________________________________

The model C is a new subcompact Tesla is supposedly launching this year (probably won’t happen).

But you are correct that my post related to the 3. I had been reading about the C and obviously had a case of mental dyslexia.

If you want facts – just go read my post again. I wasn’t even joking about the 400 year horizon to complete current orders via current production numbers. Everything I wrote is fact – and you can look it up.

As for changing the world for the better, I have volunteered hundreds of hours over the last 20 years towards charitable causes and youth. Our family charitable donation total last year was over 20K, the CRA made us prove it too – and subsequently allowed 100% of it.

I am volunteering this Saturday the 10th to move furniture from a storage building to a house in preparation for a new refugee family that was privately sponsored to move into the area.

We have anonymously and directly given to locals who are struggling financially, everything from car repairs to rent money. No receipt for this kind of stuff either.

I know this is zip compared to the high exalted mystic ruler lord Musk, but I didn’t need a 10 year 50+ Billion dollar pay package for my time either…

#204 acdel on 02.08.18 at 1:15 pm

#153 Rooster

Thanks for the feedback; snowed in today so I can answer back.

There are many resources on the internet where one can research this new flat lens technology being developed by this company. There is an awful lot of Star Gazers out there, satellites, security camera’s,etc, that if successful, could use this.

I was lucky enough to pick this one cheap and have already made my profits; I will hang on to the rest of them and ride it out like “Star Man”!

#205 IHCTD9 on 02.08.18 at 1:17 pm

#182 Ronaldo on 02.08.18 at 10:55 am
#130 darealdealz on 02.07.18 at 11:37 pm

”Dont forget the Wallenda-esque roofers, who would climb up a ladder with a bundle of shingles in one hand and a brewskie in the other……true heroes!”
——————————————————————
I tried that once with a bundle under each arm and just as I was ready to step onto the roof, the ladder slipped. Almost killed myself. Last time I tried that stunt.
____________________________________

I’m too old to haul bundles and beer up the ladder simultaneously. These days, I send the bundles up with the kids, I’m still young enough to handle the brews :).

What were they, like 75lbs per bundle?

#206 Network Admin on 02.08.18 at 1:29 pm

Looks like CHMC may change the rules for credit unions as well. “Commentary: Another Regulatory Witch Hunt?”. See https://www.canadianmortgagetrends.com/2018/02/commentary-another-cmhc-witch-hunt/

#207 Mark on 02.08.18 at 1:36 pm

Wow, crazy, the 10-year index return (excluding dividends) of the TSX Composite Index is approaching 0%.

Has that ever happened before? The TSX or TSE gone nowhere in a 10 year period?

#208 jess on 02.08.18 at 1:40 pm

The U.S. Senate Banking Committee needs to get its act together and immediately schedule hearings on the trading outages that occurred at numerous discount brokers and mutual funds on Monday. According to thousands of on-line complaints, customers of major firms like TD Ameritrade, Fidelity, Vanguard, and T. Rowe Price could not access their accounts using the firms’ websites on Monday and thus could not place sell or buy orders as the market dove 1,597 points in mid afternoon, then partially recovered to close down 1,175 points.,,,read more @

http://wallstreetonparade.com/

#209 Heloguy on 02.08.18 at 1:49 pm

I haven’t seen anything in the comments so I have to ask about VGRO, vanguards balanced index sorta following worldwide fund. Good, bad, indifferent, or just too soon to tell.

#210 Stan Brooks on 02.08.18 at 1:54 pm

https://ca.yahoo.com/news/manitoba-legislature-member-sensitivity-training-184650044.html

WINNIPEG — A Peopletoba/Manitoba government backbencher is apologizing for retweeting posts that suggested Prime Minister Justin Trudeau was a “scumbag.”

https://www.urbandictionary.com/define.php?term=Scumbag

scumbag
A person of poor judgement and no class.

Is that really considered offensive these days?

#211 Stan Brooks on 02.08.18 at 1:59 pm

Another crappy article looking to attract investors:

https://ca.finance.yahoo.com/news/canadian-dollar-strengthen-further-interest-122615982.html

I bet that there will be no more meaningful rate hikes for the CAD, not with poloz at the helm.

#212 David McDonald on 02.08.18 at 2:00 pm

I recall a blog post by Paul Krugman about ending Japan’s deflationary low growth economic malaise. He wrote that the Japanese Prime Minister had to convince the public he was pursuing an irresponsible economic policy in order to increase inflation and get the economy moving. I don’t think the Japanese Prime Minister ever managed to appear irresponsible.

However we now have Mr. Irresponsible in the White House and the Republicans have also taken on the mantle of irresponsible spenders. I guess the markets are convinced we will see strong inflationary pressures in the coming years. Hence the stock market correction.

#213 Stan Brooks on 02.08.18 at 2:32 pm

#206 Mark on 02.08.18 at 1:36 pm
Wow, crazy, the 10-year index return (excluding dividends) of the TSX Composite Index is approaching 0%.

Has that ever happened before? The TSX or TSE gone nowhere in a 10 year period?

—————————–

Keep in mind, that is measured in depreciating loonie and not small inflation (at least 4-5 % annual, maybe more considering housing).

Strongest and fastest growing economy in G7?

Sure.

#214 Stan Brooks on 02.08.18 at 2:33 pm

GDP based on debt.

#215 Damifino on 02.08.18 at 2:35 pm

#209 Stan Brooks

scumbag
A person of poor judgement and no class.
Is that really considered offensive these days?

——————————-

Yep, it’s offensive. I don’t like him as PM but I wouldn’t call him that. Go find out what the word really means.

#216 US Plunge Protectors on guard on 02.08.18 at 2:43 pm

Another heavy day at the office for the “working group”

#217 ManfredSteyn on 02.08.18 at 2:59 pm

Honestly, this dip is a terrific time to buy Bitcoin and Ethereum. It won’t be this cheap again.

I know there are a lot of doubters on this forum. Profoundly new ideas can be upsetting.

George Bernard Shaw once wrote “All great truths begin as blasphemies”. Is history not richly populated with examples of new ideas being ridiculed that ultimately became fact?

The first people to propose the Earth was round were laughed at.

At one time to propose that we orbit the Sun rather than vice-versa was a dangerous idea.

The theory of Evolution and Natural Selection was widely mocked.

Traveling to the Moon was considered ludicrous within the lifetime of many reading this.

All I’m saying is, whether you end up ever buying Bitcoin or not, its vital to keep an open mind, particularly as you get older. And don’t just take my word for it; there is growing support from unexpected sources:

https://www.ccn.com/european-banks-soon-hold-bitcoin-admits-ecb-president/

https://twitter.com/MarkWarner/status/960986368523587584

http://www.businessinsider.com/deutsche-bank-end-of-fiat-money-2017-11?r=UK&IR=T

#218 OttawaMike on 02.08.18 at 3:04 pm

Everything is fine!

#219 John Dough on 02.08.18 at 3:22 pm

#206 Mark on 02.08.18 at 1:36 pm
Wow, crazy, the 10-year index return (excluding dividends) of the TSX Composite Index is approaching 0%.

Has that ever happened before? The TSX or TSE gone nowhere in a 10 year period?
++++++++++————-

Sometimes it has done worse than nowhere, but you can read a graph? Don’t forget the component stocks do change from time to time. I am not too worried, we don’t have crazily overvalued stocks like the US (or leaders) .

#220 Rooster on 02.08.18 at 3:33 pm

#203 acdel on 02.08.18 at 1:15 pm
#153 Rooster

There are many resources on the internet where one can research this new flat lens technology being developed by this company. There is an awful lot of Star Gazers out there, satellites, security camera’s,etc, that if successful, could use this.

**********
Don’t confuse the nano-structure flat lens work being done at Harvard with the pyramid lens being developed in Calgary. Their website shows pretty people and bank vaults and gold coins. What are you missing?

#221 bdwy sktrn on 02.08.18 at 3:43 pm

dow now over 9.5% off highs.

more from here?

#222 Spaccone on 02.08.18 at 3:45 pm

TSX – 5 months of gains gone in two weeks…they seriously need to rethink this index. S&P still up 6%

#223 James on 02.08.18 at 3:50 pm

Explain that one today Donny baby? Did this guy ever go to school?

In the “old days,” when good news was reported, the Stock Market would go up. Today, when good news is reported, the Stock Market goes down. Big mistake, and we have so much good (great) news about the economy!
— Donald J. Trump (@realDonaldTrump) Feb. 7, 2018

https://www.marketwatch.com/markets/us

https://www.nytimes.com/2018/02/07/us/politics/trump-stock-market-plunge.html

#224 Alistair McLaughlin on 02.08.18 at 3:57 pm

Stan Brooks, MLAs, even backbenchers, are supposed to behave like adults. So yes, he owes the PM an apology. I am no T2 fan, but I expect elected officials to maintain a certain standard of conduct and speech, even on Twitter.

#225 bdwy sktrn on 02.08.18 at 4:01 pm

nice close!

djia correction orbit achieved

wow another 1000 pt day.

start buying here?

#226 PastThePeak on 02.08.18 at 4:02 pm

The technology foundation of the Internet is TCP/IP and the web is HTML (and many other tech added over time).

TCP/IP and HTML were never valued at billions. In fact, they became open standards available to all.

Many companies have been able to build businesses on top of the twin Internet and WWW that became massive.

Will blockchain be such an enabling technology? Possibly – sounds like it has great promise. Will a company figure out how to make money off that offering some service (like the real estate industry)? No doubt – and THAT COMPANY (or companies) may develop a great business model so that it makes money.

None of that means that a digital currency is likely to appreciate in value by many orders of magnitude, as the “currency” itself does not “make any money”. The crypto pumpers are arguing apples and oranges (sucking and blowing at the same time).

#227 Victor V on 02.08.18 at 4:04 pm

Many areas in the GTA are seeing softness in the single detached category, but Markham is COLLAPSING.

https://markham.listing.ca/detached-home-price-history.htm

#228 conan on 02.08.18 at 4:13 pm

This sell off still has legs.

https://www.youtube.com/watch?v=g5xs4vMx-fM

#229 Stan Brooks on 02.08.18 at 4:14 pm

#214 Damifino on 02.08.18 at 2:35 pm

————————-

Agree, some respect is due, but boy, it is so hard…

———————–

The most important chart ever:

https://www.zerohedge.com/news/2018-02-08/inflation-alert-velocity-money-has-finally-bottomed

Velocity of money is bottoming.

And now ladies and gentlemen you will see what real inflation is.

Buckle up. Poloz getting creamed/probably would retire soon because of ‘illness’. I don’t see him riding this.

#230 Ronaldo on 02.08.18 at 4:17 pm

TSX now back to level of May 20th, 2008. Been quite a run.

#231 Steve O on 02.08.18 at 4:24 pm

Re: #208
I haven’t seen anything in the comments so I have to ask about VGRO, vanguards balanced index sorta following worldwide fund. Good, bad, indifferent, or just too soon to tell.
————————–
I too am very interested. Garth’s already commented on it (Not a fan) but would love to read other opinions!

#232 LivinLarge on 02.08.18 at 4:31 pm

“Having way too much and needing to dodge taxes is much preferable to running out of cash and eating bark to survive.”…vell, hai’nt dat da troot.

#233 No basic rights for renters on 02.08.18 at 4:37 pm

I rent a small house in Vancouver.
Few days ago a police officer knocked on the door and asked if this was a squatting house.
No I replied.
Why do you ask I said.
He answered,are you an owner of this property?
I said no. He said sorry. This information is strictly for the property owner only.

#234 Stan Brooks on 02.08.18 at 4:37 pm

Another orgasmic schadenfreude:

https://ca.yahoo.com/news/macleans-magazine-highlight-canadas-pay-185825611.html

Only in Canada.

Maclean’s magazine is taking on the pay gap in Canada. The latest issue of the magazine has two covers with two different prices to reflect the 26 per cent gap in full-time wages between men and women in Canada.

Note: They are quoting pay gap, but skip to mention whether the work committed is the same in quality and duration.

If women were cheaper at the same quality of work and hours committed there would be no men employed in a capitalist society.

At least people should know what not to read.

I frankly never read them, now I would demand they pay me to read their crap.

#235 acdel on 02.08.18 at 4:44 pm

#219 Rooster

Then do not invest, I could care less, I am not pumping this thing, I just find it interesting. Lay off and have a beer or something! I did well on it and hanging on!

#236 Rooster on 02.08.18 at 4:59 pm

#234 acdel on 02.08.18 at 4:44 pm
#219 Rooster

Then do not invest, I could care less, I am not pumping this thing, I just find it interesting. Lay off and have a beer or something! I did well on it and hanging on!
********
Cheers to you. If you’d like me to do any further research, please send me your credit card info.

#237 Cindy on 02.08.18 at 4:59 pm

#133 morrey on 02.07.18 at 11:57 pm
“@For those about to flop
…Your posts are totally senseless. Stop wasting the bandwidth!”

Mr. Flop’s comment is orders of magnitude more useful to me than much of the other…er…output in the steerage section. It’s not so useful to you? Sad.

It’s also not senseless. Following some interesting data almost in real time. Let’s hope he can save some fools…
_____________________________________________

Flop’s posts are both useful and interesting. It’s hard to say the same about a lot of comments on this blog.

Flop – please keep it coming. Don’t listen to haters who make senseless comments. They don’t speak for all of us.

I think you’re doing great work. So thanks!!!

#238 Manfred Man on 02.08.18 at 5:01 pm

#216 ManfredSteyn on 02.08.18 at 2:59 pm

Honestly, this dip is a terrific time to buy Bitcoin and Ethereum. It won’t be this cheap again.
[The last sentence is correct]

I know there are a lot of doubters on this forum. Profoundly new ideas can be upsetting.
[Good ones are OK, just the bad ideas are upsetting]

George Bernard Shaw once wrote “All great truths begin as blasphemies”. Is history not richly populated with examples of new ideas being ridiculed that ultimately became fact?
[And a big pile of excrement that did not]

The first people to propose the Earth was round were laughed at.
[Some still doubt it]

At one time to propose that we orbit the Sun rather than vice-versa was a dangerous idea.
[Only if you told people at Church]

The theory of Evolution and Natural Selection was widely mocked.
[It doesn’t always work – you’re still here.]

Traveling to the Moon was considered ludicrous within the lifetime of many reading this.
[We always knew it was possible, but still think it is ludicrous]

All I’m saying is, whether you end up ever buying Bitcoin or not, its vital to keep an open mind, particularly as you get older.
[I’m a NO, but I’m not closed-minded, just immune to baseless conjecture]

And don’t just take my word for it; there is growing support from unexpected sources:
[ Who would? Unexpected is not the word I would choose]

#239 Ray on 02.08.18 at 5:11 pm

#75 acdel on 02.07.18 at 8:28 pm
Garth, no need to post this if this goes against your rules of law on your blog. Since so many including you have provided us with investment tips, including stock tips etc I have come across one that may interest a few people.
By no way am I affiliated or pushing this stock; do I own it, yes, purchased it last year in the pennies. It is a very interesting new lens technology that could revolutionize the lens market. Your choice, here is a link to the company. https://nexoptic.com/
———-

I think the biggest market will be the smart phone and drone sectors (small and light/lite ?). For me, it would be too soon to get in. I would wait until some earnings pattern evolved.

#240 Ronaldo on 02.08.18 at 5:15 pm

#204 IHCTD9 on 02.08.18 at 1:17 pm

#182 Ronaldo on 02.08.18 at 10:55 am
#130 darealdealz on 02.07.18 at 11:37 pm

”Dont forget the Wallenda-esque roofers, who would climb up a ladder with a bundle of shingles in one hand and a brewskie in the other……true heroes!”
——————————————————————
I tried that once with a bundle under each arm and just as I was ready to step onto the roof, the ladder slipped. Almost killed myself. Last time I tried that stunt.
____________________________________

I’m too old to haul bundles and beer up the ladder simultaneously. These days, I send the bundles up with the kids, I’m still young enough to handle the brews :).

What were they, like 75lbs per bundle?
————————————————————
Well actually, they were about 35# each but still a total of 70# climbing up 10 feet without hands to hold on is still pretty impressive wouldn’t you think? I was 39 years younger then too (and not as wise). My last roofing job 3 years ago I sat back and watched a 60 year old and his son do the job. Still can’t believe how hard these guys worked. His son quit halfway thru the job to go hire on the local mill as figured the work was way too hard for him. Poor dad had to finish the job on his own.

#241 NoName on 02.08.18 at 5:15 pm

#132 Lost….but not leased on 02.07.18 at 11:40 pm
#93 NoName

I am fully aware of Black Hand assassin…Gavrilo Princip

The issue is one has to research W–H–O he really worked for….then it all makes sense.


I cant tell you who they really fork for, but i 100% know who they are worked against and why.

and on a side note…
https://creativeconflictwisdom.files.wordpress.com/2016/09/conspiracy-theories-cartoon.jpg

#242 crowdedelevatorfartz on 02.08.18 at 5:17 pm

@#232 No rights for renters

Reminds me of a similar situation a few years back.
City of Vanc increased dog license fees.
Very few people had dog licenses.
ByLaw enforcement took to patrolling parks, beaches etc to stop dog owners and fine them.
The best use of the city employees? Gets better.
A friends Door bell rang mid day, mid week. His dog started barking.
Friend answers the door.
By Law enforcement is walking away.
“Can I help you?”
“No!” , came the reply,” You have a dog license.”
Mr ByLaw then went to the next neighbor, rand the bell….dog barked. No dog license for that address, Fine issued….placed in mail slot.
Door to door doggie fines.
Like shooting fish in a barrel.

Another valuable use of taxpayers dollars.

#243 acdel on 02.08.18 at 5:29 pm

#235 Rooster

Yeah, I think that I will pass on your offer, I am doing just fine, thanks anyways!

You sound like a shorter!

#244 morrey on 02.08.18 at 8:15 pm

“The market volatility we’ve experienced since February 2 has been substantially attributed to algorithmic trading”

Those of us well diversified and well managed were unaffected.

#245 michael on 02.08.18 at 10:34 pm

Yea, ok, Musk put a car into orbit. Big deal. That shit’s been done before, you can put almost anything into orbit if you have enough cash. The achievement that was epic and that apparently only the nerds noticed was landing two out of three booster cores back at the Cape near simultaneously. That money shot of the two rockets landing on flame tails has only ever been seen before on comic book covers. “Epic” barely covers it. An utterly astonishing, astounding, technical tour de force.

#246 Rocket Man Dreams on 02.08.18 at 11:44 pm

#245 michael on 02.08.18 at 10:34 pm

Yea, ok, Musk put a car into orbit. Big deal. That shit’s been done before, you can put almost anything into orbit if you have enough cash. The achievement that was epic and that apparently only the nerds noticed was landing two out of three booster cores back at the Cape near simultaneously. That money shot of the two rockets landing on flame tails has only ever been seen before on comic book covers. “Epic” barely covers it. An utterly astonishing, astounding, technical tour de force.
….

BINGO.. stunning awesomeness…. a true rocket man status

#247 Braj on 02.09.18 at 9:14 am

#59 Kyle Griffin on 02.07.18 at 7:52 pm
Stop spreading fud, obviously buying any investment on your credit card is stupid. Ten percent of your investments- what you can stomach losing- into an emerging technology like block chain that has the chance to revolutionize the world like the internet did- not so stupid. Unless you have really studied every single project related to block chain why crap all over it constantly? Is it fear??

Bitcoin is not blockchain. It’s gamer stuff. – Garth

***

Your old man is showing.

Try experience. BTC is not blockchain. It is not the future. It’s not, and never will be, money. It’s gamer investing. Your adolescence is showing. – Garth