Into the fire

Politically incorrect photo taken by Micheal at the farmer’s market in Duncan, BC.

.

Who needs Donald Trump sending T2 to a special place in knuckle-dragging, mouth-breathing, deplorable-heavy, concealed-weapon, MOGA, muscle-car, alt-right Hell? We’ve already found a few places that qualify nicely right here in erudite Canada. And after the weekend’s ridiculous G7 summit, beavers everywhere should be expecting more heat. Not the good kind.

Trade wars bring lower growth, fewer jobs and more inflation. There’s no good outcome. Protectionism and tariffs mean higher prices and interest rates. Now every major trading nation in the world has been tossed into this soup by a single man.

Simple advice on how to deal with an uncertain future? Don’t have all your eggs (supply managed or otherwise) in a single basket. Portfolios should be globally diversified and balanced, with safe assets as well as growth ones. Ensure you have 20% of it in US$-denominated assets. And don’t stuff your net worth in real estate. You won’t like what The War has in store housing.

In fact, hell may be here already.

Look at poor Victoria, for example. The Dipper taxes of Comrade Premier Horgan are starting to bite – foreigners are no longer welcome, Alberta dudes are gelded on sight, Upper Canadians are repelled at the ferry dock. The bevy of levies imposed on housing is taking an inevitable toll, especially when combined with stiffer mortgage rates and the stressful stress test.

Last year during June an average of 33.6 houses sold every day in the Snooty City. This year that’s dropped to 19.5 – a decline of 42%. And listings are starting to pile up – with actives currently sitting at 28% more than last time. It’s pretty clear where this is headed for the rest of the year. Funny what happens in a destination city when you tell people to go away and make living there more expensive. They go away.

Speaking of Hades, despair, loss and agony, let’s visit Notley’s Inferno.

Here’s Mary’s story, delivered on the weekend:

Hi Garth: I bought a half-duplex in the middle-upper class neighbourhood of West Dalhousie in Calgary two years ago for $355,000. I did my research, and this area was a reliable and safe purchase (I thought). The duplex has a fully self-contained suite upstairs and an illegal fully self-contained suite downstairs. However, the duplex turned into a massive money pit. It needed huge major repairs: replaced fence, balcony, plumbing, electrical, hot water tank, furnace etc etc, you get the idea. I had no more money and ended up with more than $40,000 in credit line debt. Then both units sat empty for six months. I decided to sell since they were empty anyway as they would show better, but the property value just keeps on dropping every month.

Now my $40,000 debt has soared to $100,000 debt and I’m tapped out. Should I keep dropping the price and sell it for way less than I paid? Or do I move in and find a lot of roommates? Or do I declare bankruptcy?

You’re pooched, Mary. Hope you didn’t buy a rental property based on the cultists at REIN – who were shamelessly pumping AB real estate right into the teeth of the current decline. You’ve obviously put all you money into a single, disastrous, money-losing, capital-eating asset in a city where the commercial core is hollowed out and even seventy-buck oil couldn’t bring companies back. Funny what happens when a government increases business taxes, turns surplus into deficit and has to nationalize a pipeline.

Anyway, kid, you gotta sell. The place will suck you dry. Take the hit.

Stoking the flames of housing Hades are higher rates. This week the Fed pulls the trigger again, with our guys set to fire in mid-July. It will be the sixth increase in little more than a year in the US and the fourth here. American rates are expected to increase once more (after this) in 2018, and the statement by central banker Jerome Powell on Wednesday will be intensely parsed, now that his boss has decided to flame the world.

On the topic of mortgage rates, you might recall this pathetic blog saying we’d all have to wait six months after the stress test came in to determine the damage. Well, here we are. It’s bad. “It increasingly looks like the new stress test is causing more than just a temporary dip in housing market activity in the greater Toronto and Vancouver areas,” says RBC. The stats are in. Sales down 22% in Toronto last month and 35% in Vancouver – and the assault continues. “The drag on house prices to persist through this year,” adds BMO. “We do expect the Bank of Canada to raise rates a couple more times (and) there will be a lingering impact of the tougher mortgage rules.”

Taxes, rates, regs and now The War. Here we go.

195 comments ↓

#1 Happy Housing Crash Everyone! on 06.11.18 at 5:40 pm

Can you imagine a real stress test if there was no CMHC you dirty SHYSTERS? Talk about a housing market crashing hard back down to the mean average. The communist SHYSTERS and mortgage lenders would scream like wild animals if they had to operate in the free and open market. I find it interesting how no SHYSTERS complain of the government involvement in mortgages? Aren’t more SHYSTERS conservatives that had government involvement? Hypocrite SHYSTERS.

#2 isuckless on 06.11.18 at 5:42 pm

While in Ottawa bidding wars are escalating.

#3 From victoria on 06.11.18 at 5:42 pm

Your totaly right about volume collapsing but that doesnt stop the local paper from making people feel like the market is on fire. http://www.timescolonist.com/real-estate/benchmark-single-family-home-price-hits-record-878-100-in-capital-s-core-1.23322934

#4 Camille on 06.11.18 at 5:44 pm

Hi Garth. Would you consider an unhedged etf of US assets to be a valid US dollar denimonated asset?

#5 the ryguy on 06.11.18 at 5:47 pm

I bet Mary wish she splurged on the $600-$700 home inspection.

#6 Uncle Bob on 06.11.18 at 5:49 pm

Interest rates might be out of our governments control, but regulations can disappear as fast as they were brought in.

#7 Happy Housing Crash Everyone! on 06.11.18 at 5:58 pm

Housing market crashing you SHYSTERS and will continue to crash for years. Expect very little sales for years to come. It’s always a good time to buy even in a crashing market Right SHYSTERS? Tell us more fictional stories of a strong housing market. Enjoy the housing crash. :-)

#8 Deplorable dofo bred on 06.11.18 at 5:59 pm

6.50 for a bite out of Dofo.. wow things are dire.

#9 Ex-Cowtown on 06.11.18 at 6:06 pm

“Notley’s Inferno” – GT

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

Love it. Elegant Eloquence.

#10 FOUR FINGERS WATSON on 06.11.18 at 6:09 pm

5 year variable at TD is 2.55%………at a quarter point per rate hike this is gonna take some time for rate hikes to bite. Like maybe a decade.

#11 TheDood on 06.11.18 at 6:11 pm

#6 Uncle Bob on 06.11.18 at 5:49 pm
Interest rates might be out of our governments control, but regulations can disappear as fast as they were brought in.
_________________________________________

You’re right, they can disappear, but given how financially stupid the average Canadian is (ie personal debt levels in Canada), wouldn’t be such a good idea would it? How many more Marys are out there? How many more are coming down the pipe? No, B20 needs to stay, or the dummies will keep over borrowing and destroying their lives.

#12 from victoria on 06.11.18 at 6:12 pm

heres one from the day before http://www.timescolonist.com/real-estate/victoria-island-home-prices-predicted-to-keep-climbing-at-slower-rate-1.23322304?utm_campaign=magnet&utm_source=article_page&utm_medium=related_articles

#13 Guy in Calgary on 06.11.18 at 6:14 pm

I bet Mary wish she splurged on the $600-$700 home inspection.
—————————————————————

Hello home inspector, seems a little steep.

#14 NorthOf49 on 06.11.18 at 6:17 pm

Echoing the meltdown here in the pricier burbs of Hamilton. This weekend was an invasion of open house signs on every corner here in Ancaster. Usually open houses are sparse in June (sell in May, then go away!). Not this year. More houses that would have fetched $900K plus last year are coming onto the market sitting unloved in the $700s. Ancaster and Burlington taking the bigger hits.

http://www.rahb.ca/2018/06/rahb-realtors-release-may-statistics/

No mention of May stats in the local Hamilton Spectator. Realtors are forgoing the usually monthly spin story. No amount of lipstick will fix this pig.

#15 Greg on 06.11.18 at 6:17 pm

Mary I have $215,000 in cash at BMO for your upper middle class (ha!) unit. Read deal call me

#16 MF on 06.11.18 at 6:25 pm

Interesting to say how the interplay of home prices, rising inflation, debt levels, and interest rates works.

On one hand, inflation will erode the impact of previous debts, making those who leveraged better off. But on the other, interest rates may rise to quell this inflation beyond their below average historic levels.

My guess: inflation rises in “official” numbers, those with huge mortgages see the effect of what they owe lesson, rates rise but only a tiny amount. GTA housing up (but not as high as in the past).

I’m also of the belief that the US and Canada will sign a bilateral trade agreement without Mexico. The Trump/T2 spat is just theatre.

MF

#17 Ian on 06.11.18 at 6:28 pm

GTA housing inventory absolutely exploding on Zolo! Heading for five digits.

Differential to sales almost 5k now.

May have to upgrade my median price peak to trough drop from 54% to what I thought all along, 70%+.

#18 conan on 06.11.18 at 6:31 pm

I think Trump just guaranteed himself a one term Presidency.

This Korean Peace Conference is suspect to say the least. If any Noble prize comes out of it, it goes to Moon Jae in , he did all the work. Trump booked the hotel room and anyone can do that.

Both Trump and Kim need this to be a perpetual discussion. They are both motivated to lie about the meetings progress, and they are going to do that.

Rodman is there because he is fun to drink with.

https://www.youtube.com/watch?v=dQ3VpAEDzXw

#19 HoweStreet.com on 06.11.18 at 6:32 pm

Ross Kay on HoweStreet.com Radio:
Trudeau G7 Comments Hurt Real Estate Values?
It’s now back to buyer beware in Ontario home purchases

https://www.howestreet.com/2018/06/11/trudeau-g7-comments-hurt-real-estate-values/

#20 TurnerNation on 06.11.18 at 6:33 pm

Masterful prose today from our forum host.
Even alliterates will appreciate.

#21 OCAP Member on 06.11.18 at 6:34 pm

We at OCAP have been informed that Doug Ford is going to cut social assistance rates by 50% to save $500MM a year!

STOP Doug Ford in his endeavor to cut welfare rates, punish the working poor and freezing the minimum wage.

Doug Ford is another Mike Harris who will gut welfare, childcare, education and healthcare for his corporate cronies.

#22 Full Stream Ahead on 06.11.18 at 6:34 pm

#3 From victoria on 06.11.18 at 5:42 pm
Your totaly right about volume collapsing but that doesnt stop the local paper from making people feel like the market is on fire.

http://www.timescolonist.com/real-
estate/benchmark-single-family-home-price-hits-record-878-100-in-capital-s-core-1.23322934

——-

Sorry, but until prices go down, the Victoria market is full steam ahead.

As Victoria Real Estate Update will tell you, sales have been declining every year for the past three years and yet prices oddly keep going up each and evey year!

#23 Dolce Vita on 06.11.18 at 6:37 pm

The Law of Diminishing Returns Mary, you are living it.

2 more rate increases this year will make it even harder to sell (fewer qualified buyers). Add to that uncertainty in the economy (e.g., last jobs report, looming trade war).

Garth is correct, cut your losses and sell for what you can get. That hole in your wallet will only get deeper.

Mary is a bellwether for what is to come in 4th Qtr: get out at any price for the “RE investor” cohort.

The largest RE asset devaluation in Cdn. history is just beginning.

#24 ole Doberman on 06.11.18 at 6:38 pm

Hmmm i live in the hood across from dalhouise and from what i can see homes are still selling. At what price i dont know. Rental market is still saturated though so finding tenants is tough.

#25 Shamus on 06.11.18 at 6:42 pm

So Garth…what advice for me, my wife, and 3 young daughters?

We rent because you advised to do so almost 5 years ago. Our landlord is moving back from Hong Kong in July and has advised that Revenue Canada needs an appraisal on the house we live in….???

Her mom stopped by on Sunday and said that she plans on moving into the condo also owns in September…those tenants have no idea yet.

I took your advice and do enjoy living in the home we have, but right now I feel that my world is about to be pulled out from under my feet. My gut feeling is that she will sell.

I have to fake calmness infront of my wife & kids, when it seems the whole country is about to tank.

#26 Out Of Work CEO, Will Travel on 06.11.18 at 6:44 pm

Gee, getting a tad dramatic with the Johnny Cash “Ring of Fire” but we can all appreciate the tune. You can’t be saying the “Image and Rhetoric” ministry can put out this blast of fire in Canada…God Save My Queen.

#27 TRUMP on 06.11.18 at 6:44 pm

AT LEAST TRUMP…….

Finally met the REAL Trudeau.

Backstabbing, lyin, cheatin, stealin, good for nothin spoiled rich rotten, drama boy!!!

#28 Month2Month on 06.11.18 at 6:47 pm

Interesting that BoC decided not to follow the Fed after they increased their short term interest rate in March. I read quite often BoC follows suit almost every time.

#29 blog dog biscuit on 06.11.18 at 6:53 pm

Oh Mary, geez. Where did you do you research? Who did your home inspection?
There are plenty of really nice places for rent in Dalhousie for cheap, none of them are illegal basements.
6 bd with garages, full yard etc ~$2000/month or less
https://www.rentfaster.ca/306555
https://www.rentfaster.ca/114007

#30 Cherry Picker on 06.11.18 at 6:54 pm

T2 should pull out his NAFTA negotiating team until all the tariffs are lifted, just don’t respond to the bluster.

We have NAFTA now. Leave it up to Trump to pull out if that is what he really wants.call his bluff, and it it isn’t a bluff let Trump use the six month clause to pull out of NAFTA. I believe pulling out requires approval by Congress.

If that is the direction the states want to go! him them to pull out faster before the midterms, see how it plays with the elections. My bet, not well.

#31 FOUR FINGERS WATSON on 06.11.18 at 7:00 pm

Ring of Fire ? I thought it was about hemorrhoids.

#32 TurnerNation on 06.11.18 at 7:02 pm

What the…ANOTHER Actor supporting TV personality Trump? (“You’re fired”). Even NK, this is all Propaganda Theatre.
………………………………
Britain’s foreign secretary, Boris Johnson, told a closed-door gathering of conservatives that he had become “increasingly admiring of Donald Trump” and that he had “become more and more convinced that there is a method in his madness,

SO….
https://www.imdb.com/name/nm1296124/bio?ref_=nm_ov_bio_sm#overview

“Boris Johnson was born on June 19, 1964 in New York City, New York, USA as Alexander Boris de Pfeffel Johnson. He is an actor, known for Have I Got News for You (1990), EastEnders (1985) and UK General Election (1950)”

Trivia (17)
Is a British Member of Parliament (MP) for Henley-upon-Thames and an outspoken ‘Eurosceptic

#33 Terry on 06.11.18 at 7:05 pm

FYI,

Possible Auto Tariffs levied against Canada. A timeline of when it could happen.

“The U.S. Commerce Department’s national security review started last week on imported vehicles will take up to 270 days. Trump then has another 90 days to act on the report before he can impose any tariffs.”

Even if the Tariffs are not levied after the U.S. Midterm elections this November Trumps secondary objective is now in play.

“David Adams, president of Global Automakers of Canada, fears Trump is already achieving his goal of re-shoring production through the uncertainty created by his trade policies.”

“Given the uncertainty, if you’re going to invest in North America, you probably are looking in the U.S.” said Adams, whose non-profit organization represents the interests of Canadian distributors of the 15 global automakers in the country.

#34 mitzerboy aka Queencity kid on 06.11.18 at 7:09 pm

Wow Johnny Cash the Original Gangster

#35 R.E. Going Down on 06.11.18 at 7:15 pm

The areas around Hamilton are toast. Only the greater fools would have bought there loosing their equity positions year after year.

#36 KLNR on 06.11.18 at 7:19 pm

LOLOL , who could have predicted two reality tv stars would be trying to broker a peace deal in north korea.
Wonder what the Kardashians will be doing in a few years. sigh.

#37 jess on 06.11.18 at 7:20 pm

Uncle Bob on 06.11.18 at 5:49 pm

yeah, but
Global Financial Stability Report April 2018: A Bumpy Road Ahead
April 2018
https://www.imf.org/en/Publications/GFSR/Issues/2018/04/02/Global-Financial-Stability-Report-April-2018#Summary
In recent decades, house prices around the world have shown a growing tendency to move in the same direction at the same time. What accounts for this phenomenon, and what are the implications for the world economy? These are questions that IMF economists explore in Chapter 3 of the latest Global Financial Stability Report.
Our study of 44 cities and 40 advanced and emerging-market economies shows that the growing integration of financial markets plays an important role. As a result, housing markets in one country are more sensitive to swings in another. Policy makers should pay attention, because the heightened tendency for house prices to move in tandem may signal greater odds of an economic slowdown. An economic shock in one part of the world is more likely to affect housing markets elsewhere.

covenant loan quality

https://blogs.imf.org/2018/04/18/a-bumpy-road-ahead-for-the-global-financial-system/

Policy responses
But there’s a significant difference. Homes represent the biggest asset for most families (as well as the biggest liability, in the form of a mortgage.) And banks invest heavily in real estate loans, making them vulnerable to swings in home prices. So, policy makers should keep a close eye on synchronous moves in home prices, especially when housing market activity or valuations are considered excessive. Fortunately, our research also shows that policy actions to cool down hot housing markets remain effective and can have the additional benefit of taming house price synchronicity. Such actions include raising property taxes and stamp duties and limiting the size of a home loan in relation to a home’s value.
More broadly, policies that enhance resilience to global financial shocks may help. These include flexible exchange rates, which give policy makers more control over domestic borrowing costs, as well as policies to protect consumers against excessive indebtedness during housing busts.
=

Senator Richard Blumenthal, who is leading an unprecedented case brought by 200 Democrats alleging Trump is taking money from foreign governments, joins Ari Melber. Blumenthal says he was “encouraged” by the attitude of the Judge during court proceedings and … more Duration: 4:49 msnbc

https://www.judiciary.senate.gov/
=========
“One Belt, One Road”
n.korea trade is connected to china by a bridge. (chinese built) the sanctions are really the reason they have to play nice.

missed payments (loan to own?)
Sri Lanka, Struggling With Debt, Hands a Major Port to China

China-owned port in Sri Lanka could alter trade routes
China’s ambitions for sleepy Hambantota could shift world trade routes

https://www.nytimes.com/2017/12/12/world/asia/sri-lanka-china-port.html

#38 Zapstrap on 06.11.18 at 7:20 pm

A little good news from the devastating wildfires we had here in the BC interior last year … never seen so many morel mushrooms. A true bonanza unless you are out to make a buck. The buyers are paying $5.00/lb. And now the first nations are requiring you to buy a license to pick them if you are selling them. And seems the taxman want’s his share too. Not much for free out this way anymore if you play by the rules …

#39 IHCTD9 on 06.11.18 at 7:21 pm

…needed huge major repairs: replaced fence, balcony, plumbing, electrical, hot water tank, furnace etc etc, you get the idea. I had no more money and ended up with more than $40,000 in credit line debt.
——-

Welcome to home ownership. I would spend a good long time writing out all the repairs, upgrades, and renovations done to our place over the years. Even though I do it all myself, you’re still looking at big bucks if you add it all up.

Can’t avoid it. Roofing, flooring, air conditioners, decks, furnaces, water pumps, fixtures, windows, mowers, water heaters, eaves troughs, chimneys, vacuums, appliances, furniture, etc… all bite the dust sooner or later. All this stuff needs to be in the budget from day 1. You won’t get more than a 2-3 year break between some expensive problem rearing it’s ugly head, that’s normal; you should expect it to go like this. You were unlucky to get a string of stuff all at once though.

A good plan for next time is to learn to do some of this stuff yourself, or get a Man who is handy…

#40 Okanagan and Kelowna very slow. on 06.11.18 at 7:27 pm

Inventory bloating.

Overpriced. Nobody can afford it anymore.

Have a look at the classified for the area. Homes being listed only have a couple of hundred views per ad this year.

Late 2015 and 2016 you would see 4,000+ views per house listing ad.

That is a 95% drop in ad views. D.E.A.D. as predicted.

Another interest rate hike? Brutal.

#41 REIN on 06.11.18 at 7:28 pm

REIN

“Who were shamelessly pumping AB real estate right into the teeth of the current decline.”

D.Campbell is my hero. These scumbags are all over BC selling the dream, setting everyone up just like AB.

#42 MSM-Free Zone on 06.11.18 at 7:29 pm

“….Funny what happens when a government increases business taxes, turns surplus into deficit and has to nationalize a pipeline…..”
___________________________________

Funny what happens after 40 years of Alberta (C)onservative incompetence, and nothing to show for it.

https://www.fraserinstitute.org/studies/decade-spending-increases-above-inflation-and-population-growth-hindering-alberta-government

I thought AB used to be a ‘have’ province with the lowest taxes and highest wages in Canada. Was that incorrect? – Garth

#43 AB Boxster on 06.11.18 at 7:38 pm

Ring of Fire

Great Johnny Cash song.

Here’s another great one about ‘the man’.

https://m.youtube.com/watch?v=k9IfHDi-2EA

#44 Lost...but not leased on 06.11.18 at 7:40 pm

Hope the Strata suckers are duly noting the early warning system provided by the trail blazed by SFH.

The sh*tstorm tsunami collapse for this RE class will be orders of magnitude greater.

#45 WileE Toronto on 06.11.18 at 7:59 pm

HI Garth,

About Mary’s story, I do not think this story is about investing in real estate. She says she did her homework. If she replaced the plumbing , furnace , balcony , fence, electricity, that means the house needed gutting from the get go and the 2 self contained units would be useless. I cannot fix my own house for 40 k and and it has been empty for 2 years?? The bank that mortgaged the place would not finance a house that is in need of that much repair. The whole story sounds odd , Calgary housing was already down a lot 2 years ago (I think) and there must of been a lot to CHOOSE from .

#46 RentYVR on 06.11.18 at 8:08 pm

“#44 Lost…but not leased on 06.11.18 at 7:40 pm
Hope the Strata suckers are duly noting the early warning system provided by the trail blazed by SFH.

The sh*tstorm tsunami collapse for this RE class will be orders of magnitude greater.”

This point is spot on. SHD values will always trend above their intrinsic value here in lala land because there is a finite number of them and, more importantly, because at least you own some dirt which is where the value really is.

Condos, however, are probably among the worst investments you can own and many of the tiny “luxury” shoeboxes being flipped here are at the moment are not going to stand the test of time.

#47 tccontrarian on 06.11.18 at 8:11 pm

23 Dolce Vita on 06.11.18 at 6:37 pm

The Law of Diminishing Returns Mary, you are living it.

2 more rate increases this year will make it even harder to sell (fewer qualified buyers). Add to that uncertainty in the economy (e.g., last jobs report, looming trade war).

Garth is correct, cut your losses and sell for what you can get. That hole in your wallet will only get deeper.

Mary is a bellwether for what is to come in 4th Qtr: get out at any price for the “RE investor” cohort.

The largest RE asset devaluation in Cdn. history is just beginning.
****************************************

Exactly!

Mary, probably my most important trade ever was when I sold a (speculative) stock at 30% loss.
Natully, I felt ‘stupid’ for making such a costly mistake; however, as I followed the price action for the next while, I slowly felt better about my decision to sell. Eventually, I felt like a bloody ‘genius’ since if I’d held on, I’d be looking at 99% losses!

Trust me, a $100k loss, although significant, is better than a $200k loss – plus the potential health issues from the anxiety ffom holding onto a declining asset.

Not wanting to crystallize losses is related to one of those psychological conditions they call ‘anchoring’ – in this case, the price you paid. Ryan (or Doug) talked about this a few days ago.

Sell, and move forward, and learn from the mistake. That’s my suggestion. Good luck to you!

TCC

#48 rknusa on 06.11.18 at 8:13 pm

windsor – essex realtor board has not published April or May stats

crooked thieves

#49 Capt. Serious on 06.11.18 at 8:16 pm

#39 IHCTD9 on 06.11.18 at 7:21 pm

Can’t avoid it. Roofing, flooring, air conditioners, decks, furnaces, water pumps, fixtures, windows, mowers, water heaters, eaves troughs, chimneys, vacuums, appliances, furniture, etc… all bite the dust sooner or later. All this stuff needs to be in the budget from day 1.

A good rule is about 1.5 – 2% of the home’s value per year. Sure, some years you’ll spend less, but other years you’ll spend more. Yes, you need to budget this into your cashflow or you’ll be living in a dump within 10 – 20 years.

A good plan for next time is to learn to do some of this stuff yourself, or get a Man who is handy…

I know some women who are far handier than the average guy. Just sayin’.

#50 Yorkville Renter on 06.11.18 at 8:21 pm

oh RBC, remember when you said – way back 2 month ago – that the dip was temporary and prices would rebound? good times.

how can you be so wrong, so often, yet maontaon credibility… it’s very Trumpian

#51 Fuzzy Camel on 06.11.18 at 8:29 pm

Builders are nervous, a quarter of the houses they sold are defaulting on closing.

#52 Investx on 06.11.18 at 8:36 pm

” Protectionism and tariffs mean higher prices and interest rates”

Great. Savers will be rewarded.

#53 MSM-Free Zone on 06.11.18 at 8:36 pm

“….I thought AB used to be a ‘have’ province with the lowest taxes and highest wages in Canada. Was that incorrect? – Garth…..”
_______________________________________

Perhaps you mean ‘have royalties’ province.

It’s not too difficult for a (C)onservative premier (not to be confused with a (c)onservative premier) to gloat over low taxes when it happens to sit upon a pile of valuable liquid dinosaur feces (or caverns of potash, just ask ex-Sask premier Brad wall).

It’s a different story when the royalties evaporate and you have nothing to mask your own financial incompetence (just ask just ask ex-Sask premier Brad wall).

Having lived in Alberta for two decades throughout numerous boom/bust cycles I learned that the whole ‘Alberta Advantage’ slogan was a load of B.S.

A more appropriate slogan appeared on bumper stickers everywhere, “Please God, let there be another boom and I promise not to piss it away next time”. Well, 40 years of (C)onservative ‘next times’, and nothing to show for it.

Having returned from Calgary recently, I’m happy to report that, under the current government (I really don’t care who) Calgary is doing quite well, tons of construction everywhere, restaurants are packed, auto dealers are celebrating, and shopping malls parking lots are full.

All things considered, much better than any royalty bust cycle I experienced under previous (C)onservative governments.

Commercial vacancy rates: Calgary 27.7%, Toronto 2.5%. Yes, everything’s peachy in Cowtown. – Garth

#54 John on 06.11.18 at 8:38 pm

“Funny what happens when a gov’t turns surplus into deficits”?, when did that happen in Alberta, did the PCs ever run a surplus, even at $100+ oil?, no!, maybe back under Ralph Kline

#55 acdel on 06.11.18 at 8:38 pm

I do feel for all the good folks from Kamloops eastward; we get it, always have, great relationship between Alta and these folks, same work ethic between these parts, always welcomed here in Alta including my favorites from the East coast; dam good hard workers, pity those who see otherwise on the West Coast; by no means am I including all of you, just the ones that feel that there lives are more important then the rest of us.

By the way there has been record growth of free CO2 absorption called trees in the Northern Hemisphere. Plenty of data to back that up if you care to look it up as opposed of feeding me your b.s. :)

#56 Leo Trollstoy on 06.11.18 at 8:43 pm

Housing has come a long way since it hit peak price in 2017…

A long way DOWN

#57 Doug t on 06.11.18 at 8:45 pm

I’ve said it before and I’ll say it again – please for the love of all that’s holy take this Victoria market DOWN 30% PLEASE – these smug people need a dose of reality (and I own)

RATM

#58 Ian on 06.11.18 at 8:48 pm

Kudlow heart attack.

That’s what happens when you mess with Canada and free trade!

He will be fine. Then we will rehabilitate him as a Canadian conservative.

#59 WIN not lose on 06.11.18 at 8:49 pm

#20 TurnerNation on 06.11.18 at 6:33 pm

Masterful prose today from our forum host.
Even alliterates will appreciate.

_____________

Did you mean those experts who always use alliteration in their missives?

Or did you mean those who are :

illiterate

adj. Unable to read and write.
adj. Having little or no formal education.
adj. Marked by inferiority to an expected standard of familiarity with language and literature.

#60 Long-Time Lurker on 06.11.18 at 8:49 pm

Political theatre gone wrong. Remember when we used to elect adults as leaders?

#25 Shamus on 06.11.18 at 6:42 pm
So Garth…what advice for me, my wife, and 3 young daughters?

We rent because you advised to do so almost 5 years ago. Our landlord is moving back from Hong Kong in July and has advised that Revenue Canada needs an appraisal on the house we live in….???

Her mom stopped by on Sunday and said that she plans on moving into the condo also owns in September…those tenants have no idea yet.

I took your advice and do enjoy living in the home we have, but right now I feel that my world is about to be pulled out from under my feet. My gut feeling is that she will sell.

I have to fake calmness in front of my wife & kids, when it seems the whole country is about to tank.

>Back-up plans. Execute as needed.

#61 pete on 06.11.18 at 8:50 pm

OCAP Member on 06.11.18 at 6:34 pm
We at OCAP have been informed that Doug Ford is going to cut social assistance rates by 50% to save $500MM a year!

STOP Doug Ford in his endeavor to cut welfare rates, punish the working poor and freezing the minimum wage.

Doug Ford is another Mike Harris who will gut welfare, childcare, education and healthcare for his corporate cronies
—————————————————————

Conservative steal from the poor to give to the rich. They take food out of a poor child’s mouth to eat it themselves. As you can see Ford is fat enough and yet he wants to eat more.

#62 TS on 06.11.18 at 8:51 pm

Garth Turner says tariffs will ruin the economy

David Orchard says Canada will prosper

Who do you trust? The aging downtown Bay Street Bobby Axelrod wannabe with a hipster beard or the country bumpkin from the Prairies.

Make your choice…..

Orchard is a fruitloop. and I had a beard before there were hipsters. – Garth

#63 Glengarry Girl on 06.11.18 at 8:53 pm

#48 rknusa

Windsor Essex County Housing Data

I’ve also been watching out for the Real Estate Board to release Data, it’s my hometown. For many years I’ve been hearing from relatives and Friends all of the emotions and opinions that go along with a growing Housing Bubble. I occasionally suggest that perhaps it’s not a good thing, but have been met with various levels of negatively. I am fairly certain that many have gotten caught up in the hype and overpaid for homes diring the upward frenzy. I’m continually shocked how those that are from Windsor don’t see a downturn coming, it always does. The biggest problem I see there is an aging population that want to sell their sfh and buy a low maintenance condo or townhouse and there are very few. The single family house price is much lower than condos and townhouse prices. My aging relatives would love to sell but there’s nothing for them to buy or rent.

#64 Larry Kudlow on 06.11.18 at 9:00 pm

He was the man who was attacking T2. We will not be hearing from him anymore.

#65 Spcectacle on 06.11.18 at 9:11 pm

#27 TRUMP on 06.11.18 at 6:44 pm
AT LEAST TRUMP…….

Finally met the REAL Trudeau.

Backstabbing, lyin, cheatin, stealin, good for nothin spoiled rich rotten, drama boy!!!

:::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::
You forgot his penchant for willful , Physical Assault on women! Yes, caught on camera……oh sorry, sorry, this is Canada, sorry…

#66 Honey Dripper on 06.11.18 at 9:12 pm

I’m adding some gold and weed stocks with my play money. ‘The times they are a changin’ – Bob Dylan

#67 MSM-Free Zone on 06.11.18 at 9:12 pm

“…..Commercial vacancy rates: Calgary 27.7%, Toronto 2.5%. Yes, everything’s peachy in Cowtown. – Garth….”
_____________________________________

There’s more to quality of life than a 2.5% commercial vacancy rate.

Then again, having recently discovered friendly, laid back Nova Scotia, I’m guessing you’ve already figured that out.

Hope it works out for you, as it undoubtedly will.

I have lived in both Toronto and NS for the past seven years. They each add to my life. There is no vacancy rate in Lunenburg, but I hear the population plunged recently when a couple moved to Bridgewater. – Garth

#68 Gravy Train on 06.11.18 at 9:16 pm

#47 tccontrarian on 06.11.18 at 8:11 pm
“Not wanting to crystallize losses is related to one of those psychological conditions they call ‘anchoring’ – in this case, the price you paid. Ryan (or Doug) talked about this a few days ago.”

The disposition effect is more descriptive of the cognitive bias.
https://en.m.wikipedia.org/wiki/Disposition_effect
https://en.m.wikipedia.org/wiki/Cognitive_bias

Also related are loss aversion, the endowment effect, and the escalation of commitment (or sunk-cost fallacy).
https://en.m.wikipedia.org/wiki/Loss_aversion
https://en.m.wikipedia.org/wiki/Endowment_effect
https://en.m.wikipedia.org/wiki/Escalation_of_commitment

#69 When the Whip Comes Down on 06.11.18 at 9:16 pm

#22 steam? Well it’s an awful lot less steamy than a year ago and has come off boil. I don’t know how you make your conclusion based on the data. Inventory is still relatively low but lots less action than in the past. Certainly you can see that….

#70 acdel on 06.11.18 at 9:21 pm

#61 pete
—————————
You mean people who have worked there butts off, created jobs, going through the bureaucracy, paying multiple taxes including Garth so that you can pay your bills???? By all means, start your own company and see if you can do any better; what a farce!!

What a bunch of whiners!!

#71 dr talc on 06.11.18 at 9:21 pm

I love the old time country songs too:

https://www.youtube.com/watch?v=-sbBD96_31M

#72 Lobster Man on 06.11.18 at 9:22 pm

Garth,

With your permission, I would like to present the following petition by Monique Hui to the audience of your blog:

https://www.change.org/p/david-eby-justice-for-dr-alphonsus-hui-who-was-killed-by-a-driver-going-140-km-h-in-a-50-km-h-zone

Has justice been served?

Lobster Man

#73 cramar on 06.11.18 at 9:22 pm

#48 rknusa on 06.11.18 at 8:13 pm

windsor – essex realtor board has not published April or May stats

crooked thieves

————–

From what I heard, housing is still very much in a seller’s market, with average house going for 4% over list with multiple offers. It is because prices are still relatively low and affordable compared to big cities to the east.

#74 paulo on 06.11.18 at 9:28 pm

watching the trump stupidity show,pandering to a third world dictator with millions of starving citizens,whom is nothing more than a whipping boy for the peoples republic of china,does not and could never possesses a atomic weapon or effective delivery system.
i guess desperation to prove your ability is the driving factor. somebody should drop one between kims ears and end it.

#75 WUL on 06.11.18 at 9:34 pm

Fortunately for all of us, Dennis Rodman is in North Korea. Peace will be brokered and the proliferation of nuclear weapons is about to end. He is a close personal friend of KJU.

I’ll be back on Friday with a fun fact or two about Iran. 7/4 odds of a victory by Morocco from one bookie.

M62AB

#76 Mark Baum on 06.11.18 at 9:37 pm

I noticed that out of the Big 5 Canadian banks:

TD and BMO have the lowest exposure to residential real estate and its’ stocks are near all time highs.

CIBC, Royal Bank, and Scotiabank have more exposure to RE and their stock performance this year has been mixed. BNS is at a one year low.

Thoughts?

#77 horse trader on 06.11.18 at 9:37 pm

#53 – I live here. Drove for blood work this AM. A whole lot of new listings appeared along my normal route, here in SW Calgary, from over 2 weeks ago. A bunch popped up in my subdivision on June 1st.

I’m retired Oil Patch. My contacts tell me stuff….not good out there. All that construction you see is in the pipeline stuff called “infrastructure”. Once it’s done, it’s done. I have a son in law working H-equip locally, .gov infrastructure will keep them busy, until the money runs out, but it’s .gov=debt infrastructure. His kids will be paying for it & their kids, too.

Despite all the rhetoric over that stoopit Trump, what has virtue signalling done to get any deal done with our biggest trading partner? SFA.

What’s the price of rainbow parades down Main Street these days, on the TSX? They pay dividends? They get pipelines built, or trade agreements signed?

This country needs a remake, but it won’t be Canadians doing it.

#78 Drill Baby Drill on 06.11.18 at 9:38 pm

Selfie Boy is looking to his Euro buddies for moral support in his time of need. However Selfie Boy will look around and not find his Euro buddies when the trade war with the USA really hits the fan this Q4.When mortgage rates are higher and borrowing skyrockets federally in order to prop up the steel, aluminum, auto sector and oh yes a new pipeline. We are so screwed.

#79 SimplyPut7 on 06.11.18 at 9:47 pm

#17 Ian on 06.11.18 at 6:28 pm

There are over 8,000 homes listed for sale in Toronto. It’s like sales just froze overnight.

Maybe the full effect of B20 is starting to show, as there are no more homeowners with their 90-120 day pre-approved mortgages for the move-up buyers and flippers to take advantage of.

Was it the talk of more rate hikes by Poloz or the hope foreign buyers would come to rescue indebted homeowners if the speculation tax is removed this year in Ontario.

Or are flippers and speculators running out of money trying to carry the housing costs on their investment properties hoping prices will come back to 2017 levels to breakeven.

I’m sure the inventory will decrease in July and August and spike again in September but by that time the Bank of Canada might be ready to hike rates for the second time this year.

#80 Deplorable Dude on 06.11.18 at 9:54 pm

Damn….I wonder what odds I would have got say just 3 years ago If I wanted to put a bet on a Donald Trump being the President, meeting with Kim Jong Un to end the Korean war and de-nuke!

Several million to one I suspect.

Historic moment today.

#81 Spectacle on 06.11.18 at 9:57 pm

So the story goes….”Then both units sat empty for six months. I decided to sell since they were empty anyway as they would show better, but the property value just keeps on dropping every month.

Now my $40,000 debt has soared to $100,000 debt and I’m tapped out. ”

With deepest empathy….How does someone blow that much money like this? Desperation alone wouldn’t work!

#82 the ryguy on 06.11.18 at 10:01 pm

Commercial vacancy rates: Calgary 27.7%
————————————————

This might even be worse, I read that 2018/2019 a couple million sq ft of commercial was supposed to come onto the market.

#83 Ming on 06.11.18 at 10:05 pm

#10 FOUR FINGERS WATSON on 06.11.18 at 6:09 pm
5 year variable at TD is 2.55%………at a quarter point per rate hike this is gonna take some time for rate hikes to bite. Like maybe a decade.
#####################

Dude, you R a P O S!

#84 Not Much on 06.11.18 at 10:12 pm

#63 Glengarry Girl – Check out new apartment complex at 2109 Ottawa Street, Windsor. A 5 minute walk and around the corner is the big shopping center, and bus service too nearby. Looks nice!

#85 Clifford Tindall on 06.11.18 at 10:20 pm

Let’s not forget about the growing inventory that the media seems to leave out.

#86 Gravy Train on 06.11.18 at 10:27 pm

#70 Deplorable Dude on 06.11.18 at 9:54 pm
“Damn….I wonder what odds I would have got say just 3 years ago if I wanted to put a bet on a Donald Trump being the President, meeting with Kim Jong Un to end the Korean war and de-nuke! Several million to one I suspect. Historic moment today.”

I dare say you’d have got those odds, and they’d have said you’re batshit crazy! I still do think you are! :)

#87 FOUR FINGERS WATSON on 06.11.18 at 10:27 pm

#82 Ming on 06.11.18 at 10:05 pm
#10 FOUR FINGERS WATSON on 06.11.18 at 6:09 pm
5 year variable at TD is 2.55%………at a quarter point per rate hike this is gonna take some time for rate hikes to bite. Like maybe a decade.
#####################

Dude, you R a P O S!
……………………

At least i am not deaf, blind, and stupid. How are those new meds working out for ya ?

#88 Drill Baby Drill on 06.11.18 at 10:29 pm

Le me throw out this prediction. This is the opening salvo in an all out future takeover of Canada. If MAGA gets re-elected in 2 years then the trade war will bring us to our economic knees during his second term. Selfie boy’s Euro buddies will be nowhere to found. I knew I should not have spent all that dough on renewing my 10 year CAD passport.

#89 Reality is stark on 06.11.18 at 10:31 pm

De Niro striking back at Trump’s outlandish behaviour. Immoral immature outrageous antics have an expiration date.
His own people will turn on him. An economic agenda based on tariffs is weak. Punching someone in the mouth to start a negotiation is weak. People will stop listening to his tirades and will react in anger EVERY time he opens his mouth.
America can do better. He is nothing more than a loudmouth shnook.

#90 gfd on 06.11.18 at 10:41 pm

8:35 PM – Jun 11, 2018
@realDonaldTrump
Our Great Larry Kudlow, who has been working so hard on trade and the economy, has just suffered a heart attack. He is now in Walter Reed Medical Center.

#91 Smoking Man on 06.11.18 at 10:46 pm

T2 is beyond stupid or is he? Butts t2s number one advisor who is on record saying he wants to bring about a de industrialized society.

If that’s the plan, its right on track.. Just think about how happy moistets will be when they see the boomers take a financial huge hit.

There is a reason I ran away from Canada. Even Ford and Shear are backing eyebrows.

Country is doomed now…

#92 Doug in London on 06.11.18 at 10:50 pm

That’s a good video, but I think I would have chosen Hell’s Bells by AC/DC!

#93 PastThePeak on 06.11.18 at 10:52 pm

I am the farthest thing from a T2 fan as you can find…but…the Trump barrage is an insult to Canada (beyond being quite wrong).

So I agree with the approach of the conservative politicians to provide a united front (it is not the time to T2 bash on this topic). That is also part of showing some spine necessary for trade negotiations.

#94 PastThePeak on 06.11.18 at 10:53 pm

DELETED

#95 Mattl on 06.11.18 at 10:53 pm

Vacancy rate in Calgary is about 5 points, and the mortage on 300 is around 25k a year including PT. Fence is 2k, hot water tank 1500. If she is down 100k in 2 years, ya, she is a tool and shouldn’t own rental property or any property really. All the repairs she described would show up on an inspection. This stuff is very simple but some people should rent for sure, it is definitely dummy proof.

She had no money or brains before buying that place and same is true today. Dumb dums will always find a way to give their money away

#96 Last of the Boomers on 06.11.18 at 10:56 pm

Renting in West Vancouver:

Finally found a place to rent in West Van within walking distance to my children’s school. $700 less per month than my last place, but half the size, and no stove, no microwave and no dishwasher. Also have to share the home with Air bnb guests. They probably decided to take in a basement renter to avoid the speculation tax.

There are approximately 240 air bnb listings for west Vancouver, most of them illegal renting full basement suites or the whole house. No wonder there is no room for locals to live, work, and attend school here. Can’t wait for the spec tax to kick in. All the places I looked at are foreign capital speculators, and many in very poor repair.

#97 NoName on 06.11.18 at 11:07 pm

Now that fire, inferno and rings of fire are mentioned, I have one advice for for y’all, don’t party to much.

https://youtu.be/bvT3vZd851I

#98 TalkingPie on 06.11.18 at 11:13 pm

Speaking of interest rates, girlfriend and I are trying to decide whether to go fixed or variable on the house we’re in the middle of closing on. House inspection today went well; other than an iffy heat pump, furnace and water heater (all work for now, but are on borrowed time), the house seems to be in very nice shape once the seller fixes the roof before we take possession.

We got one quote for a five year fixed for 3.35%. That would do the job, although we were hoping for closer to 3.0%. On the other hand, the banksters seem to be pushing variable mortgages at very attractive rates, but I’m suspicious.

What say you? Throw the dice on a variable at ~2.5% in a rising rate environment, or lock in a pretty good 3.35%?

#99 Happy Housing Crash Everyone! on 06.11.18 at 11:17 pm

#82 Ming on 06.11.18 at 10:05 pm
#10 FOUR FINGERS WATSON on 06.11.18 at 6:09 pm
5 year variable at TD is 2.55%………at a quarter point per rate hike this is gonna take some time for rate hikes to bite. Like maybe a decade.
#####################

Dude, you R a P O S!

_____________________________________

What do you expect from a dirty filthy lying SHYSTER? They lie for money. They tell poorly made up stories and think they are so smart.

#100 Ponzius Pilatus on 06.11.18 at 11:20 pm

Trump will be seriously jet-lagged after a 15 hour flight.
He’s 72 years old.
In no shape to engage in any serious negotiations.
My bet is on Kim.

#101 Gregor Samsa on 06.11.18 at 11:33 pm

>#53 MSM-Free Zone
>Having returned from Calgary recently, I’m happy to report that, […] Calgary is doing quite well, tons of construction everywhere, restaurants are packed, auto dealers are celebrating, and shopping malls parking lots are full.

It’s all an illusion. They still have not stopped pumping out new condo buildings and office towers. But both are sitting vacant. Walk around those new condo towers at night and you will notice something strange: almost no lights on. Nobody is home, ever. I think a large number (most in fact) are being bought on spec as “investments.” Somebody is taking a bath, but it’s not the developers otherwise they wouldn’t keep putting them up.

For the existing condo listings, nothing is moving. Prices are slowly coming down. Nobody can afford to buy anymore.

#102 Blacksheep on 06.12.18 at 12:01 am

Ming # 82,

“#10 FOUR FINGERS WATSON on 06.11.18 at 6:09 pm
5 year variable at TD is 2.55%………at a quarter point per rate hike this is gonna take some time for rate hikes to bite. Like maybe a decade.”
#####################

Dude, you R a P O S!
————————————
I know you let HHC slander people he doesn’t like on a daily basis, but what the hell is this about?

#103 jas on 06.12.18 at 12:41 am

Trump is an ‘effing joker.
endure another 3 yrs or so of his drama. We’ll be ok when this SOB goes out.

#104 Longterm on 06.12.18 at 1:07 am

I’m no Trudeau fan but here’s some balance for those on this blog raving about his lack of skill, backbone and nuance for handling Trump, especially over NAFTA.

There’s a lot more smart people, skill, and strategy at work than meets the eye, not least of which, for all your conservatives, is Brian Mulroney working for Trudeau.

https://www.nytimes.com/2018/06/09/magazine/justin-trudeau-chrystia-freeland-trade-canada-us-.html

#105 MaxBerniersShorts on 06.12.18 at 3:34 am

#27 Trump
#77 Drill Baby Drill

Back to Smolensk you silly little bots.

#106 Oft deleted much maligned stock.picker on 06.12.18 at 4:27 am

Trump signs historic agreement

http://www.breitbart.com/big-government/2018/06/11/donald-trump-says-he-and-kim-jong-un-to-sign-joint-statement-after-meeting/

Trudeau shopping for a stronger eyebrow glue…and denying allegations of sexual assault….what a sad day for Canada. We deserve so much more.

And….meanwhile Canadian Liberal Party and US Democratic party malcontent media trying to wrap Trudeau in the Canadian flag after he’s already announced that he doesn’t believe that Canada is a nation….what the puck? There’s nooral reason to defend Trudeau….this isn’t a matter of not loving your country because Trump has raised the bar on truth….this is a tealizayion that Trudeau must be gotten rid of for the sake of the country.

#107 Oft deleted much maligned stock.picker on 06.12.18 at 5:43 am

Bwahahahaha…..Trudeau’s falling off eyebrow viral video.

https://youtu.be/FUP_vQoDALI

#108 Stoner on 06.12.18 at 6:23 am

#89 gfd
When I saw Kudlow’s interview, he seemed terrified and babbling. That’s what comes out of working for a Psychopath. I could see that he was not himself. Now Trump will lay the blame Kudlow’s heart attack on Trudeau back stabbing. And you Trump apologists still agree with him. I used to wonder why you can’t see reality anymore but this doesn’t surprise me at all after a close encounter with a Narcissist for a couple of years. This is probably what being in a brainwashed cult looks like.

#109 Reality is stark on 06.12.18 at 6:38 am

DELETED

#110 dharma bum on 06.12.18 at 6:47 am

HELL Week on Greater Fool.

I like it.

I LIKE it!

#111 Ace Goodheart on 06.12.18 at 7:02 am

Worst. President. Ever.

Acts like a Russian turncoat.

A giant baby with the foresight of a toddler, no social skills and an evilness about him that is all encompassing.

When he got elected I lamented that the world would have to live through him “growing up” in office.

I take that back.

Trump will never grow up.

#112 MF on 06.12.18 at 7:04 am

#92 PastThePeak on 06.11.18 at 10:52 pm

Agreed. I’m not too fond of T2 and I’m also a Trump fan.

We are starting to see who the real traitor/turn coats are.

Despicable.

MF

#113 Ace Goodheart on 06.12.18 at 7:11 am

Here’s Trump shaking the hand of one of the world’s most hated dictators, shortly after having one of his aides reserve a “special place in hell” for the leader of a free western democracy, and just after he voiced his support for Vladimir Putin:

https://www.thestar.com/news/world/2018/06/11/north-korea-gets-first-big-dose-of-trump-summit-news-as-kim-jong-un-arrives-in-singapore.html

Next stop?

Perhaps a quick drop in visit to China to borrow more money from that communist dictatorship.

Then he’ll cruise by Western Europe and let everyone there know how much he hates them and thinks they are liars.

This guy is way, way, way too much.

#114 Stoner on 06.12.18 at 7:26 am

#89 gfd
Pardon my ambiguity in communication. When I meant you Trump apologists, I didn’t mean it personally at you #gfd.
I really don’t know where you are coming from. I meant you as the Trump apologists that infest this forum.

#115 Tater on 06.12.18 at 7:39 am

#10 FOUR FINGERS WATSON on 06.11.18 at 6:09 pm
5 year variable at TD is 2.55%………at a quarter point per rate hike this is gonna take some time for rate hikes to bite. Like maybe a decade.
——————————————————————-
The rate you’ll pay is far less important than the rate you need to qualify at.

#116 NotLegalAdvice on 06.12.18 at 7:42 am

Hi Garth,

Remember I was debating between picking up a house or renting a few months ago? I’m glad you told me to rent and invest the money.

The investment hasn’t really shown a return yet, but I’m in this for the long haul. However, had I bought a place, I’d be 150k in the gutter right now!!

However, owning a house to live in for a few decades is still on my agenda, as long as I can afford monthly payments without giving up more than 30 percent of my take home salary. With that being said, I’ve continued to monitor the real estate market closely, but have expanded my search horizons. I’m no longer thinking just the GTA, I’m thinking bigger, further away from Toronto, where prices are already affordable.

To think, I could move to Ottawa and pay less than half of what I’d pay in certain GTA neighbourhoods. I know their housing market has gone up slightly, but it seems that’s only core downtown District. Into the burbs I go! But again, I’m in no rush! Let’s see how this market plays out in the next couple months, until then, I’ll go on a vacation or 2 and enjoy only giving away 10 percent of my take home on rent. Cheers!

#117 North Korean Spokesthingy on 06.12.18 at 7:55 am

Trump is wonderful, we love him!

The perfect patsy, best enabler we have ever found :) He’s wrapped around our little finger like a ramen noodle, heehee!

Thank you SOOOOO much to all the frustrated white guys who made Trump possible and support him still.

And don’t worry, you can trust us – just like before!

#118 Dissident on 06.12.18 at 8:09 am

Ah man. Seeing Trump all lovey dovey with Kim Jong Un is like seeing a grizzled polar bear become buddies with a fat walrus. A sight not oft seen in the wild. Let’s hope the romance makes it past the honeymoon stage.

#119 Wait There on 06.12.18 at 8:16 am

Told you all BEFORE the G7 meeting that Trudeau was cornered. He should have realized this BEFORE the meeting and act accordingly.

First thing, Trump IS smarter than Trudeau. Think TRUMP loves little rocket man. No. Surely not. But he knows, sometimes you have to LOSE A BATTLE TO WIN A WAR.
Any good manager knows this. Our PM has not had enough experience in business to understand this. There are some battles which you HAVE to lose for self preservation.
Now Trump HAS to come down hard on Canada just to show Kim that he will be tough on a country that reneges.

First thing, we do not know what was agreed between Trump and Trudeau in their discussions. It could have been that Trudeau did agree to something but did not understand the deal he agreed to and Trump thought he understood. Second thing, again, I stress. No matter WHO you invite to your party, if you are a host, you MUST be polite to them, especially in public. I’m sorry even my parents taught me this, especially if they are important people. When Trump left he WAS gracious to Trudeau. He expected reciprocation. The EU leaders egged him on to “stand up” . Send in the fool first, they did.
First Trump has not ever backed down. The best you can do is to let him like you and you will get something from him. If that means kow towing to him. Fine. It would have benefited all Canadians in the end. As it is now, Trudeau pulled a Pearl Harbor on Trump, at least that is the way the WH sees it.

Canada’s path is headed towards economic Hiroshima. The best we can do is to send in some known NON LEFTIE diplomat down and try to mend the hurt. Or we have Trudeau step down and start talks again.

With this win on North Korea, the GOP will back him all the way and the mid terms elections will maintain republican seats. Prepare for another 6 years of Trump.

The EU will now back off. There was a reason why NAFTA kept getting slid by the WH till AFTER the Tax Reform. ( Even my business is now considering the options of relocating because it was a neutral situation after the tax reform. Now it looks like it HAS to occur) Because the tax reform would be his weapon. As soon as he had that, his ammo was reloaded. Like I said, TRUMP has thrown Nitrous Oxide to the exit of investment in Canada towards the USA. I again NK will be given favored trading nation status as a reward when denuking happens. Multinational corps will now have a low labor cost country to start over again….like China got and look where it took them. Mexico you are warned.

Justin Trudeau and his ADVISERS did not even smell this. Trudeau is toast from the economic heat that will be coming our way. The more support we give Trudeau and the more the MSM media supports him, the worse it will get. Send in Mulroney NOW.

#120 crowdedelevatorfartz on 06.12.18 at 8:21 am

Soooo, when do the tweets start from Air Force One reversing everything accomplished in the last 24hrs?

#121 Gravy Train on 06.12.18 at 8:35 am

#113 Stoner on 06.12.18 at 7:26 am
“… the Trump apologists that infest this forum.”

I like your description of the Trump supporters here in steerage: infestation. They don’t apologize for him so much as worship him. As Smartalox said yesterday (#207 at 1:51 am), “they bend over and grab their ankles before their bully-hero.”

#111 MF on 06.12.18 at 7:04 am
“… and I’m also a Trump fan.”

And you’re also a ‘whiny little bitch’—just like Trump!

#122 TurnerNation on 06.12.18 at 8:44 am

#74 WUL to my point, further, yep Dennis Rodman another actor on the NK stage.

https://www.imdb.com/name/nm0005379/?ref_=nv_sr_1
Actor | Soundtrack | Director
He is an actor, known for Double Team (1997), Simon Sez (1999) and Eddie (1996).

And I’ve mentioned Kanada’s defacto One Child Policy:
Terrible link but…it’s a source – of something. Party leaders and faithful on public union Sunshine list might step into 1.5 or 2 kids.

“New data shows a clear link between rising housing costs and falling birth rates.”
https://www.huffingtonpost.ca/2018/06/11/house-prices-canada-birth-rate_a_23456339/

#123 Blacksheep on 06.12.18 at 8:44 am

Tater # 114,

“#10 FOUR FINGERS WATSON on 06.11.18 at 6:09 pm
5 year variable at TD is 2.55%………at a quarter point per rate hike this is gonna take some time for rate hikes to bite. Like maybe a decade.”
——————————————————————-
“The rate you’ll pay is far less important than the rate you need to qualify at.”
——————————
Tater, what are you doing, using rational to try to make your point?

Don’t you know, your sposed to just swear at em instead….

#124 Stoner on 06.12.18 at 8:48 am

#119 crowded
won’t happen. He needs to show the world the illusion that he is amazing. Only when it is threatened, you will see the Twitter storm. So far my guess is correct. Small progress but big noise and fanfare.

#125 Stoner on 06.12.18 at 9:05 am

#118 Wait There
A rational argument to be sure. What makes you think that the other guy is going to be rational. What if his real motivation for picking up Canada to attack is to make an example of a weak country. Kind of like Bush choosing to attack Iraq despite no connection to 911. So Canada is a soft target that really can’t do much damage to the US. So like it or not we are the chosen ones to stop this mad man.

#126 Ace Goodheart on 06.12.18 at 9:14 am

#18 wait there: T2 told Trump where to go. I fully support our PM’s decision to politely flip him off and would have done the same thing if I were him.

Although I might not have been as polite about it.

Go away Donald. No one likes you. No one cares

#127 Ole Doberman on 06.12.18 at 9:21 am

high end units continue to struggle in Calgary – this place reduced by $1 million:

http://www.rosspavl.com/listing/c4185408-246-aspen-ridge-pl-sw-calgary-alberta-t3h-0j7/

#128 down and out on 06.12.18 at 9:27 am

Philosophy “one o one” only misfits( ex.Trump) change the status quo and history.

#129 Smoking Man on 06.12.18 at 9:31 am

You need to take this seriously if you have high mortgage.
Nothing selling in shlong branch. Listings piling on.
Most people know what will happen to real estate prices once rates start to shoot up.

Perfect store for accelerated rate spikes. Poloz will have no choice.

https://www.bloomberg.com/news/articles/2018-06-12/u-s-inflation-at-six-year-high-eating-away-at-wage-increases

#130 IHCTD9 on 06.12.18 at 9:36 am

#49 Capt. Serious on 06.11.18 at 8:16 pm

I know some women who are far handier than the average guy. Just sayin’.
______

With today’s crop of big city millennial Men – I believe that 100%. Some of them can’t even figure out how to change a tire.

Realistically, most Women aren’t going to be diving into a balcony rebuild – and those that would are 1 in 100,000.

Mary obviously paid others for the work (and it looks like she paid top dollar).

#131 Blacksheep on 06.12.18 at 9:36 am

Ace #110,

“Here’s Trump shaking the hand of one of the world’s most hated dictators, shortly after having one of his aides reserve a “special place in hell” for the leader of a free western democracy, and just after he voiced his support for Vladimir Putin:

https://www.thestar.com/news/world/2018/06/11/north-korea-gets-first-big-dose-of-trump-summit-news-as-kim-jong-un-arrives-in-singapore.html

Next stop?

Perhaps a quick drop in visit to China to borrow more money from that communist dictatorship.”
——————————-
The US of A is a sovereign in control, that enjoys monetary hegemony, they don’t need to borrow jack from anybody.

https://en.wikipedia.org/wiki/Monetary_hegemony#/media/File:Global_Reserve_Currencies.png

I realize Trump is a highly flawed individual, but at least he wants to make money through modern business deals, not the old fashioned way via WAR, which involves mass death of our youth and blatant destruction of our societies.

Now, lets just imagine where the US /world would be, had scary ole Hillary became POTUS.

Signing agreements with Nuke krazy Kim? No bloody way. Improved relations with Russia? Ya right, the anti Russian campaign, was well on its way to full blown conflict before Trump came along. De escalating military frictions with China by stopping South Korean war games. Sure. Talk of pulling US troops from Syria, Germany and South Korea?

This is pure Ron Paul!

Based on these points alone, I would suggest giving Trump miles of rope before anyone starts looking for a tree…

All I’m sayin is big picture Ace, I got kids.

#132 Penny Henny on 06.12.18 at 9:43 am

Niagara Real Estate Board numbers for May 2108

https://www.niagararealtor.ca/sites/default/files/May%202018%20Stats%20Press%20Release.pdf

The Niagara Association of REALTORS® (NAR) reported 768 property sales processed through the NAR
Multiple Listing Service (MLS®) system in May. This represents an 18.6% decrease in sales compared to
May of last year.

#133 Smoking Man on 06.12.18 at 9:53 am

The Truth.

Trumps chirp to Trudeau was shot acoss the bow of the SS George Soros fleet. Game on. Bring it old man.

I’m calling for a red wave in the mid terms. Including commie California.

Libralism is so out of style. Don’t let the optics of Trump fool you. He’s on a mission from God.

#134 Penny Henny on 06.12.18 at 10:01 am

Orchard is a fruitloop. and I had a beard before there were hipsters. – Garth

Are you then laying claim to being the ‘original hipster’?

They are shallow imitations. – Garth

#135 Stoner on 06.12.18 at 10:02 am

Perfect example of gas-lighting practiced by Narcissists. http://www.cbc.ca/player/play/1253707331922/

Create Cognitive Dissonance in the minds of the targets so that they start questioning reality.

#136 Blacksheep on 06.12.18 at 10:07 am

Wait # 118,

“No matter WHO you invite to your party, if you are a host, you MUST be polite to them, especially in public. I’m sorry even my parents taught me this, especially if they are important people. When Trump left he WAS gracious to Trudeau. He expected reciprocation. The EU leaders egged him on to “stand up” . Send in the fool first, they did.”

“First Trump has not ever backed down. The best you can do is to let him like you and you will get something from him. If that means kow towing to him. Fine. It would have benefited all Canadians in the end. As it is now, Trudeau pulled a Pearl Harbor on Trump, at least that is the way the WH sees it.”
——————————-
Trudeau says: “Canadians will not be pushed around”

I don’t know who this drama teacher thinks he’s fooling.

Exports from the US, sold to Canada represents about .015 % of the US of A’s annual GDP. Exports from Canada, sold to the US represents about 20 % of Canada’s annual GDP. These stats are few years old but, you get the point.

Trudeau says: “Canada will not be pushed around”

The above statistics make it glaringly obvious, we need their business, a hell of a lot more than they need ours.

Solid reasoning, Wait…

#137 Stoner on 06.12.18 at 10:17 am

#132 Smoking Man on 06.12.18 at 9:53 am
The Truth.

Trumps chirp to Trudeau was shot acoss the bow of the SS George Soros fleet. Game on. Bring it old man.

I’m calling for a red wave in the mid terms. Including commie California.

Libralism is so out of style. Don’t let the optics of Trump fool you. He’s on a mission from God
=========================
He is on a mission to be sure. What I am equally sure is that its not from God. Hopefully we will be around to see..

#138 Wait There on 06.12.18 at 10:21 am

#124

It was blatantly obvious that TRUMP chose the dairy issue because that was a point that no Canadian politician could respond to because they are afraid to go there. Therefore they will keep their mouth SHUT against him on this point. Indeed, they ALL have. Including 90+ % of the media. He knows when he has a winning hand.

Do not forget that this stuff is NOT all Trump. His advisers help him figure out the buttons to press. Again I stress again to the deaf ones. The security issue is not that Canada is a threat but they need to maintain a level of steel production in the USA that allows them to further develop exotic blends for arms purposes. Early on Wilbur Ross explained it but it was hardly put forward. What is not talked about is the transshipment of Chinese steel products. I know about this practice and as soon as Trump talked about high tariffs on China, I wondered how they could separate that stuff when we import from China and then reship to the USA. Then a day later Wilbur Ross openly indicates he’s up to that game. MSM talk of that? Do they know what the game is?
If Canada puts tariffs on imported steel from China, think Trump would back off against steel from Canada. THAT is what he wants the allies to do.
Trouble is too many are making money off transhipments to the USA or including cheap steel into their products they ship to the USA. BTW, steel making produces a LOT of greenhouse gases. Funny how Trudeau is not against that?

You people talk of the sheep but it seems that there are far more here than it would initially appear.

#139 IHCTD9 on 06.12.18 at 10:26 am

At the IHCTD9 bunker complex – it will not be long before Political influence starts losing traction. The days of working for a living are starting to wane. That combined with my current ideology (no one really cares about the future), and if I have a limited need for conventional energy, plus ever cheaper consumer goods means it won’t really matter who’s running the show, or what carrots are offered.

I won’t need free daycare, .10 off gasoline, tuition support, 25% off my hydro bill, income tax cuts, or just about anything else that might draw my attention now.

It’ll take a society destabilizing event to start getting me concerned. Stuff like food scarcity, currency devaluation, revenue confiscation, open warfare, etc.

#140 Wait There on 06.12.18 at 10:29 am

#124
Try jumping in the middle of the road to stop a runaway car and come back to tell me about it. Trudeau has the honor of being the chosen one by the EU to stand up to Trump. Now he should be front and centre in the USA in front of the democrats backing him up. See where that gets you today in the USA.

Never bet against the USA. They are confident that they can do it and it is showing and the people are slowly gravitating towards it.

The black support for the GOP, yes it is low but it has never been higher than it is now. The Asians in the USA are now starting to find out that the Democrats openly discriminate against them and I was informed about this by my supplier and indeed two weeks ago I was in Florida and this issue was front and centre in the news about the reverse discrimination policies where the Asians are suffering now from the democrat policies.
You have to open your eyes.

#141 Wait There on 06.12.18 at 10:39 am

You know we Canadians love hockey. Sometimes you gotta take a hit for the team. You lose a battle so the team eventually wins or salvages a game.

Obviously, we kinda forgot that. Eh. Can’t win em all. When you play with hooligans ten times your size. Are you going to outmuscle them in the corners and intimidate? No. You have to choose your game. We’re a smaller economy, we should be more flexible and nimble, we have to change. As leader/coach, you have to have a different game strategy .

#142 Stoner on 06.12.18 at 10:49 am

#139
I am not from Judeo Christian background but I did read the story of David vs Goliath a long time ago.
Also when you are in a cult everything feels beautiful and right for a while.

#143 Stones on 06.12.18 at 10:53 am

#140 Clement Atlee tried what you are saying with Hitler. Eventually they had to replace him with “My head is bloodied but not bowed” Churchill.

#144 IHCTD9 on 06.12.18 at 10:57 am

#121 TurnerNation on 06.12.18 at 8:44 am

And I’ve mentioned Kanada’s defacto One Child Policy:
Terrible link but…it’s a source – of something:

“Either way, the data suggests that Toronto, Vancouver and other pricey markets may face a “baby bust” in the coming years. Canada’s most dynamic cities may have to become even more dependent on immigration to keep the economy going.

There may be nothing wrong with that, per se, but as we look at the reality that many of Canada’s largest cities are failing to create families, we may want to take a closer look at what the age of the million-dollar family home means for Canada’s future. Will this still be a good place to raise a family in the coming years?”
_____

The GTA and YVR will have to import working bodies AND children to go with them. Immigrants that might have had 3-5 kids in their own country, have only 1-2 once they get here. Or none at all.

The declining fertility rate is actually one of the biggest issues we’ve got going in the West, but it’s too un-PC to talk about it much.

If the GTA/GVRD cannot produce children either naturally or via importation – they will cease to be a viable environment for them. As young kids decline, so will daycares, Schools, Colleges, Universities, child based products, and all components of the family based economy.

Folks say it’s too expensive to have kids these days – and it is… in big cities where houses are 7 figures. The reality is, no one is holding a gun to their heads – if they wanted kids, they’d have them either in the city, or elsewhere.

Cutting through the BS we see that cities that once centered around children and family decades ago, now revolves around recreation, arts, culture, and restaurants – for young single folks and couples.

IMHO – if the above assertion is true – then we can look forward to some unsettling things as a direct result. It’s doesn’t take too much brain power to figure out a few of the consequences. Ultimately, it’s a self correcting problem…

#145 Stoner on 06.12.18 at 11:01 am

Sorry. Policy of appeasement was Neville Chamberlain. My apologies to Clement Atlee and his memories.

#146 James on 06.12.18 at 11:03 am

#137 Wait There on 06.12.18 at 10:21 am

#124
It was blatantly obvious that TRUMP chose the dairy issue because that was a point that no Canadian politician could respond to because they are afraid to go there. Therefore they will keep their mouth SHUT against him on this point. Indeed, they ALL have. Including 90+ % of the media. He knows when he has a winning hand.

Do not forget that this stuff is NOT all Trump. His advisers help him figure out the buttons to press. Again I stress again to the deaf ones. The security issue is not that Canada is a threat but they need to maintain a level of steel production in the USA that allows them to further develop exotic blends for arms purposes. Early on Wilbur Ross explained it but it was hardly put forward. What is not talked about is the transshipment of Chinese steel products. I know about this practice and as soon as Trump talked about high tariffs on China, I wondered how they could separate that stuff when we import from China and then reship to the USA. Then a day later Wilbur Ross openly indicates he’s up to that game. MSM talk of that? Do they know what the game is?
If Canada puts tariffs on imported steel from China, think Trump would back off against steel from Canada. THAT is what he wants the allies to do.
Trouble is too many are making money off transhipments to the USA or including cheap steel into their products they ship to the USA. BTW, steel making produces a LOT of greenhouse gases. Funny how Trudeau is not against that?
You people talk of the sheep but it seems that there are far more here than it would initially appear.
_________________________________________
Trudeau is out of his league and is a national embarrassment to Canada. Trump is a pathetic psychopathic narcissistic liar. Trump is however the worlds greatest bullshitter when it comes to making up stuff and an excellent con-man when it comes to picking a minutia of truth to turn it into a mountain of red herrings. Total trade in Dairy is less than 600M. And then he tweets this… Canada charges the U.S. a 270% tariff on Dairy Products! They didn’t tell you that, did they? Not fair to our farmers!
— Donald J. Trump (@realDonaldTrump) June 8, 2018
Of course we know that you asshole! Unlike Donald Trump most Canadians are quite informed about how the world works unlike most of those who elected him.
Canadian farmers point out that despite the tariffs that protect them, imports make up 10% of the country’s dairy consumption. By contrast, the US restricts dairy imports to 3% of domestic consumption. “That just screams hypocrisy to me, I don’t understand how they can get away with these positions.”

#147 Conn Smythe on 06.12.18 at 11:07 am

#136 IHCTD9

Make sure you read Thoreau’s book, On Walden Pond. Sounds like you are gearing up to be a 21st century version of Thoreau…Congrats!

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

#148 Conn Smythe on 06.12.18 at 11:10 am

An excerpt from On Walden’s Pond…

“I went to the woods because I wished to live deliberately, to front only the essential facts of life, and see if I could not learn what it had to teach, and not, when I came to die, discover that I had not lived. I did not wish to live what was not life, living is so dear; nor did I wish to practice resignation, unless it was quite necessary. I wanted to live deep and suck out all the marrow of life, to live so sturdily and Spartan-like as to put to rout all that was not life, to cut a broad swath and shave close, to drive life into a corner, and reduce it to its lowest terms, and, if it proved to be mean, why then to get the whole and genuine meanness of it, and publish its meanness to the world; or if it were sublime, to know it by experience, and be able to give a true account of it in my next excursion.”

— Henry David Thoreau

#149 New Era on 06.12.18 at 11:16 am

to # 137 and # 139 Wait There

Good insights.
I’ll be reading your posts more often as everyone should.

#150 FOUR FINGERS WATSON on 06.12.18 at 11:18 am

#114 Tater on 06.12.18 at 7:39 am
#10 FOUR FINGERS WATSON on 06.11.18 at 6:09 pm
5 year variable at TD is 2.55%………at a quarter point per rate hike this is gonna take some time for rate hikes to bite. Like maybe a decade.
——————————————————————-
The rate you’ll pay is far less important than the rate you need to qualify at.
………………..

Very true if u are trying to qualify for a new mortgage. If you are renewing an existing mortgage you can get the 2.55%. No big crash coming.

#151 conan on 06.12.18 at 11:35 am

Stick together and we will be stronger for it. Trump does not understand the level of friendship that exists between Canada and the US. Nor does he understand the glue that keeps the USA together.

I also think he is quite clueless on what message he just telegraphed to Europe. They have seen this shit before.

I predict hell if Trump is re-elected. The USA will tear itself apart.

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

#152 HaHaHa on 06.12.18 at 11:38 am

Okay lets recap. Trudeau elected. Panders to base. Sunny ways. Cancel northern gateway. Energy east a no go. Only one option Kinder Morgan. Has to buy it well because still needs cash. Windmills and unicorn farts aint gonna power the world no matter what suzuki says. Goes to China comes back empty handed. Pisses off India. Now pisses off the Donald. Alberta been getting slammed in every way because of our tarsands and every Canadian province has been against us. Now the Donald is on the trade warpath and it is to going to harm Quebec and Ontario jobs. Now as an Albertan we are all supposed to cry and whimper. I don’t see the Germans French Or the Brits admonishing Trump for his underlings crappy behaviour towards Canada’s P.M. Face it Canada we are not that important on the world stage. Quit pretending anyone gives a hoot. oh and by the way Alberta still has the Tarsands and at some point the world will need it. But the eastern bums can freeze in the dark and stay home. Does anyone think for one second that if France Germany and the Brits had the tarsands they would not be selling it? Global warming may be real but truly no one gives a shit. Good luck Canada

#153 Smartalox on 06.12.18 at 11:47 am

Trump Administration: we will accept nothing less than the complete, verifiable and irreversible dismantlement of North Korea’s nuclear weapons program.

Kim Jong Un: I can’t say that I’ll try, but maybe I’ll try to try.

Donald J Trump: Shhh…. You had me at ‘Hello’…

#154 Fake News Again on 06.12.18 at 11:55 am

Sorry but 3 levels of Top Heavy GOVT sucking taxes out of people and businesses like a Black Hole are lowering growth more than “trade wars” ever could……

#155 Fake News Again on 06.12.18 at 11:57 am

DELETED

#156 Fake News Again on 06.12.18 at 12:09 pm

DELETED

#157 Deplorable Dude on 06.12.18 at 12:11 pm

#112 Ace goodheart….”This guy is way, way, way too much.”

Trump derangement syndrome is strong in this one. Suppose you would have objected to Reagan meeting with Gorberchev?

I’m guessing you’d rather a nuclear enabled North Korea then? Afterall it was only a few months ago all the Trump haters were telling us Trump was gonna start a Nuke war with NK…

The MSN is hilarious this morning…its like the day after the election….in mourning…..they absolutely will not acknowledge anything good the President does.

#158 Stoner on 06.12.18 at 12:14 pm

This is what happens when you call bully’s bluff.

https://www.bloomberg.com/news/articles/2018-06-12/u-s-s-navarro-apologizes-for-inappropriate-trudeau-comments

#159 Stoner on 06.12.18 at 12:17 pm

Weakness is NEVER an option with Narcissistic bullies.
They have only contempt for the weak.

#160 Davv on 06.12.18 at 12:19 pm

Commercial vacancy rates: Calgary 27.7%
————————————————

Haven’t seen anyone highlight this so I will – that commercial vacancy rate in Calgary of 27.7% DOES NOT contemplate the leased, but unoccupied, commercial spaces.

I work with many of the large companies folks might know of, and multiple reputable sources have estimated the true vacancy between 35%-50%, based off their own real estate experiences (downsizing, shopping relocation etc.). As an example, I work in a new building in Eau Claire which is AA-rated and 25 stories tall. The building’s site claims no space available, while the building’s directory shows 16 floors accounted for, with only 14 having tenants. Basic math is that they claim 100% lease, while true tenancy is 56%, denoting a 44% vacancy.

Calgary is different than you think.

#161 jess on 06.12.18 at 12:25 pm

“Donald Trump doesn’t know what he’s talking about when he decries America’s trade deficits with countries around the world—and that’s not his fault. None of us do.”

https://qz.com/1300880/tax-havens-mean-40-of-foreign-direct-investments-are-artificial/

what is foreign?

…”As Quartz has previously reported, country-by-country investment datastart to get even weirder. For example, according to the UK Treasury, on the surface it looks like Britain’s second biggest investor is the Netherlands. But the UK Treasury has admitted most of those investments actually consist of British cash that has been send to Holland for tax purposes and rerouted back home. So, Britain’s second biggest foreign investor is itself.”….
Similarly, America’s third-biggest investor is technically the tiny tax haven of Luxembourg. Hong Kong alone supposedly provides nearly half of investment into China. And eight of Russia’s top ten investors are tax havens, with Cyprus—a notorious Russian money-laundering hole—making up 29% of its FDI.
Elkjaer says a lot of the mistakes we see in reading this data come from an outdated understanding of the global economy. “As the world has become more globalized and digitalized, more assets have become intangible and the place of physical location becomes less relevant to understanding the importance and impact of investments,” he wrote in an email. “Financial statistics and more generally economic statistics… need to adapt and evolve to stay relevant.”

https://qz.com/1300880/tax-havens-mean-40-of-foreign-direct-investments-are-artificial/

#162 The Agreement on 06.12.18 at 12:33 pm

Essentially nothing material took place by definition, as the beast was blowing propaganda. The President won nothing in the end because the negotiator meetings beforehand came up empty. The agreement signed was nothing more than a desire to continue discussions at a later time. Another meeting might be scheduled for July. The beast won a further meeting in the end.

#163 Arctic Gringo: Qaluunaq on 06.12.18 at 12:33 pm

It’s hot in the Nunavut Legislature today: http://www.cbc.ca/news/canada/north/paul-quassa-cabinet-premier-removal-1.4702367

Seven months in, with two legislative sittings, and MLAs are not happy with this guy at the helm…neither am I.

#164 Brett in Calgary on 06.12.18 at 12:34 pm

Calgary is far from healthy right now. It sucks to be Mary and the many like her. If her story is true, it’s a classic example of the one-asset strategy.

#165 IHCTD9 on 06.12.18 at 12:34 pm

#146 Conn Smythe on 06.12.18 at 11:07 am
#136 IHCTD9

Make sure you read Thoreau’s book, On Walden Pond. Sounds like you are gearing up to be a 21st century version of Thoreau…Congrats!

https://en.wikipedia.org/wiki/Walden
______

Building a cabin is on my bucket list :)

#166 Howard on 06.12.18 at 12:36 pm

#142 Stones on 06.12.18 at 10:53 am

#140 Clement Atlee tried what you are saying with Hitler. Eventually they had to replace him with “My head is bloodied but not bowed” Churchill.

———————————-

That was Neville Chamberlain not Atlee.

#167 calgary on 06.12.18 at 12:42 pm

tariffs r mostly politics. everyone trying to protect their voters. hard numbers dont matter.
in Canada votes r in ontario, quebec n BC so politicians, whether Liberal or PC, focus subsidies there. auto, dairy, bombardier, air canada, will always be bailed out at the expense of other sectors and provinces.
given the relative size, it makes no sense to stick to dairy subsidies. it gives a highlight reel number (270%) n is a big target. also competitive dairy wud put money in the pocket, esp low incomes pockets, for discretionary spending, a plus for economy.
but who has the guts to lose all those votes.
everyone is optimizing votes not canada’s econmony not canadian welfare.

#168 KIM's Trip on 06.12.18 at 12:50 pm

There were three planes flown to Singapore because two of them were decoys. KIM was on the Jumbo jet from China with a large North Korean entourage. The call number was fixed for a specific destination and changed for Singapore. On that plane they all looked the same, but a few ringers were seated which were his real handlers from China. Now we go to the pre meeting negotiations that took place. This is where discussions took place between North Korea and USA; get the big picture now.

#169 IHCTD9 on 06.12.18 at 12:57 pm

#139 Wait There on 06.12.18 at 10:29 am

The Asians in the USA are now starting to find out that the Democrats openly discriminate against them and I was informed about this by my supplier and indeed two weeks ago I was in Florida and this issue was front and centre in the news about the reverse discrimination policies where the Asians are suffering now from the democrat policies.
You have to open your eyes.
______

It takes a while for the true understanding of political ideology is grasped. Asians are fast getting the same treatment as whites, and the reason for this is that Asians are frequently successful at school, and earning good incomes.

That gets them the same treatment from the Democrats as anyone else who manages to succeed in life. Affirmative action is not about race – it’s about success, and containing it for those who appear to have too much of it.

Fact is though – the vast majority of Asians in the USA vote Democrat – not sure if it’s the same up here. That fact kind of makes a guy want to lose interest in the issue…

#170 Penny Henny on 06.12.18 at 1:05 pm

Garth, two things.
1. Why so quiet on the Adele front?
2. Do you remember what you look like without a beard?

#171 Ace Goodheart on 06.12.18 at 1:08 pm

RE: #156 Deplorable Dude on 06.12.18 at 12:11 pm

“I’m guessing you’d rather a nuclear enabled North Korea then? Afterall it was only a few months ago all the Trump haters were telling us Trump was gonna start a Nuke war with NK…”

Canada threatens trade sanctions against the USA. Trump calls our PM dishonest, weak, and reserves a “special place in hell” for him.

North Korea builds a nuclear bomb and threatens to lob it across the ocean to hit continental USA. They get a summit with the US president out of that, in which USA pledges to co-operate with them and offers them a bunch of nice stuff in exchange for further talks on dis arming.

This sends a nice message to all the wanna be tin pot dictators out there. Negotiate peacefully, and you’re insulted and tossed to the curb. Build a bomb and the US president will become your best friend.

Nice going .

North Korea is already nuclear enabled. And mark my words, if they are led to think that having a bomb will guarantee them special treatment from the USA, they are never going to give up that bomb.

#172 Shawn on 06.12.18 at 1:10 pm

US tech is the ultimate contrarian trade at the moment. Speculators are more short Nasdaq than they were in 2016…

#173 Penny Henny on 06.12.18 at 1:10 pm

#157 Stoner on 06.12.18 at 12:14 pm
This is what happens when you call bully’s bluff.

https://www.bloomberg.com/news/articles/2018-06-12/u-s-s-navarro-apologizes-for-inappropriate-trudeau-comments
//////////////////

Navarro said sorry because he doesn’t want to be the next one felled with a heart attack.

#174 The Formal Agreement on 06.12.18 at 1:23 pm

I just read this simple one page agreement. There are four general points outlined for further discussions. In theory this could have been done without a meeting using a fax machine. Nothing more than a dog and pony show took place. The beast won nothing, but will use it as a win, bragging that he’s a deal maker, and push Canada against the wall. Political theatre at its best, and T2 must stay strong against the coming bluff.

#175 Ian on 06.12.18 at 1:29 pm

#162 Arctic

What’s the concern about the Premier?

#176 jess on 06.12.18 at 1:35 pm

As the Tax Justice Network’s John Christensen said at the time,

…”While rightly demanding greater transparency from others, the USA has established itself as the fastest-growing provider of tax haven secrecy – and only the EU has the power to act. Otherwise we risk seeing a world where only the richest and most powerful country can protect its tax system from offshore abuse, while EU countries – not to mention developing countries – pay the price.”

As time went on, our call began to gather support. We wrote howthe ‘tax havens and corruption’ analysis that we first began to develop in detail in September 2006, initially to deaf ears, is now finally going mainstream.”
Then last month Bloomberg Tax reported what had once seemed unthinkable:
If the U.S. doesn’t agree by June 2019 to exchange the bank account details of non-U.S. citizens with governments around the world, it will be placed on the European Union’s tax haven blacklist.”
As you may know, we’re no cheerleaders for tax haven blacklists, for reasons we’ve written about extensively over the years – in short, they have always proved farcical and tainted by political considerations. For example, here’s our reaction to the EU’s blacklist announced at the end of 2017.
And while countries like the United States, so clearly a huge global offender have (until now) been left alone, there’s been what we think is an unfair targeting of smaller, less politically and economically powerful nations as you can see here with the EU’s blacklisting of Namibia, which may not comply with EU criteria for all kinds of reasons, including lack of resources available for compliance. And that’s causing real harm to Namibia’s economy with, for example, the company Meatco’s accounts frozen in the UK, which has “exported a combined 9 500 tonnes of beef to the EU, the United Kingdom and Norway.” As a Namibian Minister is quoted as saying here,
We don’t fall under the tax haven definition, which suggests that a tax jurisdiction receives money from abroad with the purpose of giving tax holidays…Namibia does not do that”

Yet, we have the United States, which has the resources but not the political will to comply, simply refusing to cooperate, whilst at the same demanding information exchange from other countries on money banked by its citizens overseas under it’s one way street system known as FATCA, the Foreign Account Tax Compliance Act.

Now the EU is telling the United States that it has until June 2019 to adopt the Organisation for Economic Cooperation’s common reporting standard. Valere Moutarlier, a director at the European Commission’s Directorate-General for Taxation and Customs Union has stated:
We have transparency criteria that is very clear that the June 2019 deadline must be respected”
And,
The EU is currently drawing up a list of sanctions for blacklisted countries that include withholding taxes on multinational corporate group dividends.”
So, might this actually happen…? All eyes are on June 2019.
Apart from the fact that it’s unlikely that the Trump administration will oblige this EU deadline, the United States has a long history of not ratifying international agreements.

To name but a few, the United Nations Convention on the Law of the Sea,
the Rome Statute of the International Criminal Court, the Kyoto Protocol,
the Convention on the Rights of the Child,
the Ottawa Treaty,
the Comprehensive Nuclear-Test-Ban Treaty,
the Convention on the Elimination of All Forms of Discrimination against Women,
the International Covenant on Economic, Social and Cultural Rights.etc etc

If the EU does make good its threat to blacklist the United States as a non-cooperative jurisdiction and sanctions are applied, the consequences could be pretty serious and wide-ranging.
But as our chief executive Alex Cobham told the same European Parliament committee hearings at which Valere Moutarlier (a director at the European Commission’s Directorate-General for Taxation and Customs Union) made his remarks, it will be crucial to design counter-measures that are effective against major non-cooperative jurisdictions, without imposing additional collateral damage on small, wrongly listed jurisdictions that cannot conceivably do harm to EU member states. One very obvious starting place, as he noted, would be to require public country-by-country reporting from all multinationals headquartered in non-cooperative jurisdictions.

#177 IHCTD9 on 06.12.18 at 1:36 pm

#147 Conn Smythe on 06.12.18 at 11:10 am
An excerpt from On Walden’s Pond…

“I went to the woods because I wished to live deliberately, to front only the essential facts of life, and see if I could not learn what it had to teach, and not, when I came to die, discover that I had not lived. I did not wish to live what was not life, living is so dear; nor did I wish to practice resignation, unless it was quite necessary. I wanted to live deep and suck out all the marrow of life, to live so sturdily and Spartan-like as to put to rout all that was not life, to cut a broad swath and shave close, to drive life into a corner, and reduce it to its lowest terms, and, if it proved to be mean, why then to get the whole and genuine meanness of it, and publish its meanness to the world; or if it were sublime, to know it by experience, and be able to give a true account of it in my next excursion.”

— Henry David Thoreau
__________

I’m not so philosophical about what I’m doing Ha! If I can afford myself a level of control though creation of choice – such that I am not under the thumb of government or industry – I’ve won (IMHO).

To me that means remitting taxes according to what I feel is due rather than what others think I should pay. To provide for myself transportation, and the ability to drive past the pumps – simultaneously. To keep my house warm without worries of being gouged just because they can. I want defenses against the system. Freedom at my discretion.

Easy to understand, lots of work to make happen; well worth the effort.

#178 darkselling on 06.12.18 at 1:36 pm

The story reeks of irresponsibility and someone ignorant to the realities of real estate. It’s an example of ignorance not reflective of the market.
Rental market is slow, rents are falling or stabilised having fallen. The rental market was a terrible investment when things were good too. As pricing was based on single family homes not rental economics and cap rates.

Office Commercial vacancy rate is basically irrelevant at this point. It’s related to oil and gas jobs and bad timing by Brookfield (1,400,000 sf), Westbank Developments (420,000 sf), Oxford (Eau Claire 2 600,000 sf) and Petro China building (560,000) for bringing 3 million sq. ft. to market at the worst time.

The office vacancy hurts landlords and municipal taxes but helps new business and existing business with cheap rent.
Growth will come, slowly, even very slowly, but it will come. Unemployment is at 7.7% now, hardly the end of the world and there’s plenty of well paid, well employed people here enjoying their lives.
Pretty silly to equate a office vacancy rate with happiness.

#179 Stoner on 06.12.18 at 1:36 pm

#172 Penny Henny

Hahaha! That would be the day! Then Smoky would know for sure that God is not on Trump’s side.

#180 Beard? on 06.12.18 at 1:51 pm

#133 Penny Henny – ” He that hath a beard is more than a youth, and he that hath no beard is less than a man. ”
– Much Ado About Nothing.

#181 Deplorable Dude on 06.12.18 at 1:55 pm

#170 Ace Goodheart..”And mark my words”…

Yeah….er no.

Exactly the same liberal talking points were thrown at Reagan when he was negotiating with Gorby….and look where that got us…..

…..oh wait…..

Hilarious all this fake outrage……where was it when Obama was meeting with Castro, or giving Iran $150 Billion to be nice….?

#182 Ace Goodheart on 06.12.18 at 1:59 pm

“And you’re also a ‘whiny little bitch’—just like Trump!”

Best. Comment. Ever.

#183 Ace Goodheart on 06.12.18 at 2:05 pm

From the Star:

“Trump’s criticism of Trudeau stood in stark contrast to his effusive praise of Kim. He called the dictator “very talented,” “very smart” and “a great personality” who “loves his people.”

“We have developed a very special bond,” Trump said of Kim.”

Yeah. Well there are a bunch of other dictators who are, I guess in Trump’s estimation, very nice to their people.

This guy is too much. It is like watching a comedy show where you think that the jokes could not get any better, and then they do. He takes stupidity to a new level. Go Trump. Champion Kim Jong, leader of the free world, who loves his people.

Is the guy on crack?

#184 jess on 06.12.18 at 2:20 pm

guts for votes ? how about OVERSUPPLY management
e.g. pig wastes … should look to themselves instead of pointing fingers eh

““There’s not a dang one of you all that has not eaten today or this week … Read the book of Genesis. Adam was a farmer.”Sen. Brent Jackson

As the story goes, Adam did have a garden, and later a few livestock. But nowhere does Genesis say Adam raised 7,000 hogs in confinement barns a quarter-mile from his neighbors, built smelly, open-air waste lagoons the size of a football field and sprayed manure on that field, allowing the fecal bacteria to drift to and land on adjacent houses.

The NC Farm Act, Senate Bill 711, would all but erase citizens’ right to sue industrialized hog farms for nuisance. It also dissuades these farms, which raise from 500 to 50,000 hogs or more, to modernize their waste management systems. The neighbors of these farms would just have to get used to the stench, flies, buzzards, gnats, dust, truck traffic and dumpsters of putrefying hog carcasses. They are supposed to look at the bacon on their plates or the hams in the grocery store and feel grateful.

The Farm Act is a direct rebuke to the nuisance suits

You can’t photograph a smell: Lawyers, witnesses debate hog farm stench at Smithfield nuisance trial

http://www.ncpolicywatch.com/2018/04/05/you-cant-photograph-a-smell-lawyers-witnesses-debate-hog-farm-stench-at-smithfield-nuisance-trial/

==============
soybeans in america

GOING BIG: Chinese pork producers supersize February 20, 2018
“The country is the world’s top pork market, but until recently most of it has been raised on small operations
surrounded by mountains in a remote part of southwestern China, Xinguangan’s first large-scale, modern pig farm is getting ready to produce its first offspring.
By the end of the year, 10,000 sows will live inside two huge barns on this 73-hectare (180-acre) site, producing up to 280,000 piglets annually, or about 20,000 tonnes of pork.
The farm, big even by North American standards, is one of a record number of large-scale projects that will be built in China this year as it shifts a big chunk of its pork production from backyard pigpens to automated, intensive hog barns of the kind widely used elsewhere.Some in the industry estimate it could build several hundred sow farms with about 5,000-8,000 head this year, even more than last year, accelerating the transformation of the world’s biggest pork industry.Larger, more standardized farms are also paving the way to a more sophisticated market, with China approving this week a live hog futures contract to help farmers hedge price risks.
https://www.manitobacooperator.ca/news-opinion/news/international/pig-production-in-china-on-a-path-to-supersizing/

But where does all that feces go?
Chinese farmers are using AI to help rear the world’s biggest pig population
7 comments
‘We’d like to translate AI technology into safe, tasty pork.’
China isn’t the only country interested in this synthesis of tech and farming. US agricultural giant Cargill recently starting testing facial recognition for cows, while last year, tractor-maker John Deere bought an AI startup that puts cameras in crop sprayers to identify and precisely target weeds with pesticides. To feed a growing population, farming will need to become more automated and efficient, and it’s tools like this that will help meet the demand.
By James [email protected] Feb 16, 2018, 6:34am EST

Industry upheaval

Modernizing China’s pig farms is a massive undertaking. More than half the country’s almost 700 million pigs are produced on family farms, which slaughter fewer than 500 a year. Though many have switched from feeding kitchen scraps to protein-rich soymeal, productivity still lags western farms.Costs are among the world’s highest, thanks to heavy dependence on imported soybeans.Recent policy has driven many small farms out, however, exacerbating an earlier market rout. A nationwide crackdown on farm pollution intensified during 2017, forcing hundreds of thousands of pig farms to shut. Many were smaller farms without the funds or land to build waste treatment facilities.
===================
They say they can no longer use their property as they used to because of the stench from the hog waste lagoons and dead animals. They contend they’re also plagued by flies and pests attracted to the farm, which can hold more than 14,000 hogs, and that hog waste even drifts into their homes when it’s sprayed onto nearby fields.
so in the usa chinese own the commodity -pigs while outsourcing the maintenance to local farmers who also own the waste. same with chickens .the pig farmers are warning the chicken farmers of these types of contracts as citizens are fighting back over the pollution to water and air

http://www.ncpolicywatch.com/2018/06/08/after-court-loss-n-c-pork-producer-turns-to-legislature-for-a-win/

#185 North Korea on 06.12.18 at 2:47 pm

The North Korean situation is not what your being told for the most part. A proxy war is taking place with a man in the middle concept which is KIM. The real battle behind the curtain is regime change between USA and China. In other words, who gets the prize in geopolitical positioning for the control over North Korea. The puppet master in the end will be pulling KIM’s strings, and the reasons for such will not disclose at this time, as it would be a big surprise.

#186 jess on 06.12.18 at 3:05 pm

Last year, council voted to dip into the city’s rainy day fund to offset a planned 1.5 percentage point increase for 2017, effectively freezing the hike to zero.

But by using one-time money to create a tax freeze, the funds will have to be paid back in 2018, the year after the municipal election, meaning residents could have an even higher tax hike in 2018.
=============

Calgary’s residential and non-residential property assessment base has dropped to $303 billion, according to city assessors — a $6 billion year-over-year decline, largely due to a sky-high downtown office vacancy rate.

The city released its 2017 property assessment report Thursday, showing an average value of residential homes and businesses fell four and six per cent, respectively, over last year.

City assessors reported the median assessed value of a Calgary home is now $460,000, down from $480,000 in 2016. For condominiums, the median assessed value is $270,000, down from $280,000 last year.

Harvey Fairfield, acting director of city assessment, said on the residential side, many Calgarians will see a decrease in their property assessments and 99 per cent of residential property owners will see their taxes stay within plus or minus 10 percent of last year.

http://calgaryherald.com/news/local-news/calgary-2017-property-assessments-plunge-6-billion-year-over-year

http://www.calgary.ca/PDA/Assessment/Pages/phased-tax-program.aspx
“From a residential perspective, (there’s) minimal shifting, less fluctuation for our residential property tax payers for 2017,” he said.

The story isn’t the same on the non-residential side, where a vacancy rate never before seen in Calgary’s downtown has resulted in a redistribution of non-residential taxes to properties outside the core.

“Really, the tax weight is not being picked up from the downtown offices, it’s going to other property type groups that are not experiencing the same decrease as the downtown office category,” said Fairfield.

The city estimates 76 per cent of businesses will see a tax increase in 2017.

With Calgary’s revenue-neutral system, whether a home’s taxes go up or down depends on how the change in assessed value compares with the citywide figures.

“An increase or decrease in a property’s assessed value doesn’t mean taxes go up or down by the same amount,” Fairfield said.

“If your property decreases by minus four per cent, basically you’ll see your taxes remain the same. If your property assessment decreases by one per cent, you’ll actually see an increase in your property taxes for 2017.”

#187 jess on 06.12.18 at 3:43 pm

does the clock start now?

By William J. Broad and David E. Sanger

May 28, 2018

As the Trump administration races to start talks with North Korea on what it calls “rapid denuclearization,” a top federal government adviser who has repeatedly visited the North’s sprawling atomic complex is warning that the disarmament process could take far longer, up to 15 years.

The adviser, Siegfried S. Hecker, a former director of the Los Alamos weapons laboratory in New Mexico, and now a Stanford professor, argues that the best the United States can hope for is a phased denuclearization that goes after the most dangerous parts of the North’s program first.

The disarmament steps and timetable are laid out in a new report, circulated recently in Washington, that Dr. Hecker compiled with two colleagues at Stanford’s Center for International Security and Cooperation. Dr. Hecker has toured that nation’s secretive labyrinth of nuclear plants four times and remains the only American scientist to see its facility for enriching uranium, a bomb fuel. American intelligence agencies had missed the plant’s construction

A technically-informed roadmap for North Korea’s denuclearization
Siegfried S. Hecker, Robert L. Carlin and Elliot A.
Serbin
Center for International Security and Cooperation
Stanford University
May 28, 2018

This graphic depicts the current US demand of CVID denuclearization complete [or permanent], verifiable,
irreversible, dismantlement). – Insisting on immediate CVID along a “Libya model” to eliminate everything up
front and virtually all at once is tantamount to a North Korean surrender scenario. It is unimaginable that Kim will agree to a Libya
model. – The scale of the programs is also
dramatically different. Libya never got close
to nuclear weapons. North Korea has a
threatening nuclear arsenal and a huge
complex. The suggestion of shipping the
North’s nuclear weapons out of the country
is naïve and dangerous. The weapons must
be disassembled by the people who
assembled them.
– Although US should be prepared to accept
all concessions Kim is willing to make early
on, such as closing the nuclear test site, it
must be prepared for a phased approach.
– One option is to still insist on CVID, but
space it out over time as in the next chart,
but this also unlikely to be acceptable to
Pyongyang.

https://cisac.fsi.stanford.edu/sites/default/files/hecker_carlin-serbin_denuc_rlc.pdf

#188 Johnnyboy on 06.12.18 at 3:45 pm

You have to Love the Freaky Fox News people for their overt way of spinning. Had a huge laugh on this one. So for all of you Dumb-ass Trump lovers explain this?
Fox News criticized former President Obama for his willingness to “talk to dictators.” Now, conservative media praises President Trump’s work with North Korean leader Kim Jong Un.

https://www.cnn.com/videos/politics/2018/06/12/fox-news-obama-trump-coverage.cnn

#189 conan on 06.12.18 at 4:00 pm

NK has been asking for no nukes on the Korean peninsula for a long time. No surprise then, that China also wants that. The USA is late to the party.

The remains agreement I like, not bad for an add on.
The movie? I guess you had to be there.
Trump doubled down on T2, and Europe. (double secret probation!)

How do they do this without China and USA both wanting to put a whole bunch of troops into N Korea?

Way out there prediction:

1) America will commit ground troops to protect Kim’s regime. China will take offense, and not good. Or, the reverse will happen, and not good. Civil war comes to N Korea.

2) Same old N Korea, they will get whatever money they can, and then go back into Hermit Kingdom mode. They also fear a civil war.

3) Moon Kai Li eventually takes over this task and tells the USA and China to butt out before 1) or 2) happens.

I think 3 is the likeliest. Also Moon Kai Li for the Noble prize if this crazy plan works.

Donald did a good job in Singapore. Too bad he muffed the G7.

https://www.youtube.com/watch?v=1tfK_3XK4CI

#190 Johnnyboy on 06.12.18 at 4:04 pm

#182 Ace Goodheart on 06.12.18 at 2:05 pm

From the Star:
“Trump’s criticism of Trudeau stood in stark contrast to his effusive praise of Kim. He called the dictator “very talented,” “very smart” and “a great personality” who “loves his people.”
“We have developed a very special bond,” Trump said of Kim.”
Yeah. Well there are a bunch of other dictators who are, I guess in Trump’s estimation, very nice to their people.
This guy is too much. It is like watching a comedy show where you think that the jokes could not get any better, and then they do. He takes stupidity to a new level. Go Trump. Champion Kim Jong, leader of the free world, who loves his people.

Is the guy on crack?
………………………………………………………………..
Nope Kim Jong is very talented at the following.

Subversive deception.

Jailing hundreds of thousands of his own people in gulags.

Striping his people of all of their rights, including a mandate that his haircut is one of 3 official haircuts.

Drinking massive quantities of fine liquor from around the world while his own people are lucky to get a beer.

Living lavishly while his people are living in squalor.

Eating extremely well while hundreds of thousands have starved to death.

Ordering the murder at will of staff, military and his own family.

Ordering the murder of his own people for an infraction that would never pass the muster in a free democratic society.

Ordering sick twisted disgusting torture of staff, military, family members and for that matter anyone under his regime.

Ordering murders and executions that are perverse and sick by using methods that leave nothing for the family to bury.

If this is love for his people then I would hate to him angry, Trump is an imbecile and an old senile twit. I know for sure that Donald Trump did not even mention human rights with this perverse example of a human being. The court is still out on even considering Kim Jong to be a human. If these are the friends Trump wants to have a special bond with then Fu#K Trump. I would rather Canada goes it alone than be connected with North Korea. My uncle fought in the Korean war and is rolling in his grave now.

#191 Victor V on 06.12.18 at 4:29 pm

Bitcoin drops to lowest since February as collapse continues

https://www.bnnbloomberg.ca/bitcoin-drops-to-lowest-since-february-as-collapse-continues-1.1091714

The price of the digital coin fell as low as US$6,498, bringing the slide for the year to more than 50 per cent. It’s down from a record high of US$19,511 reached in December, the culmination of the more than 1,400 per cent surge seen in 2017 as Bitcoin burst on to the mainstream.

#192 jess on 06.12.18 at 4:47 pm

free press for malaysia! now that is good news

On April 30, 2015, the Malaysian police arrested the top executives of two local media outlets, The Edge Media Group and The Malaysian Insider, on charges of sedition, after they revealed links between Najib’s allies and 1MDB. They were later released, but the Edge’s publication license was suspended for three months.

https://www.icij.org/blog/2018/06/after-black-magic-censorship-and-detention-comes-new-dawn-for-malaysian-press/

“In July that year, the Sarawak Report was blocked after exposing a multimillion dollar deposit to Najib’s personal account. The police issued an arrest warrant against Rewcastle-Brown and applied to Interpol to have her extradited from the United Kingdom, where she was living.

Rewcastle-Brown said she’d been treated as “an enemy of the state” and had suffered cyber attacks, false news accusations and surveillance.
Clare Rewcastle-Brown, a Malaysia-born investigative journalist, was celebrated after the leadership change earlier this year.

But after the new prime minister was sworn in last month, she finally felt vindicated, she said. The warrant was lifted and her website was unblocked. On her return to Kuala Lumpur, strangers took selfies with her. One of the largest newspapers in the country ran a long article with a picture of her on the front page, and an online piece titled “No Changes Without Brave Individuals.”

#193 Conn Smythe on 06.12.18 at 5:09 pm

#176 IHCTD9

“To me that means remitting taxes according to what I feel is due rather than what others think I should pay.”

That also is pure Thoreau…

Thoreau and “Civil Disobedience”

“In 1846, the United States declared war against Mexico. Thoreau and other Northern critics of the war viewed it as a plot by Southerners to expand slavery into the Southwest. Thoreau had already stopped paying his taxes in protest against slavery. The local tax collector had ignored his tax evasion, but decided to act when Thoreau publicly condemned the U.S. invasion and occupation of Mexico.”

#194 KLNR on 06.12.18 at 8:02 pm

Meh, trump is just a 70+ year old narcissist trying to cement his place in history with what little time he has left. let him build a wall around his country the rot has already set in – suicides skyrocketing, weekly mass shootings, fellow citizens despising each other depending on their political stripe. So sad. Maybe its time Canada broadens its horizon a little. All those too big to fail corporations can fak off.

#195 westcoast_mill on 06.12.18 at 9:26 pm

#189 Johnnyboy
Do you think maybe you watch to much CNN? I havent been to North Korea when was the last time you were there? Do you not think that theres a slight possibility that a huge portion of what u see on the “News” is fabricated to some extent? If during this presidency you havent noticed how biased news can be you need more help than this forum can offer..Furthermore, do you not think it would be best to build up your opposition while trying to take away all there defence?