George redux

George Stroumboulopoulos

Besides the fact he’s a pussy biker who rides a sports machine and likely wears a pretty leather jumpsuit, George Strombopolous has his serious attributes. The host of CBC-TV’s award-winning The Hour is showing considerable maturity and insight by inviting me on his show on Tuesday evening to discuss, I think, my latest book and various squirrel recipes.

Interestingly enough, I was on the George show once before, a day or two after my ass was thrown out of the Conservative caucus by Stephen Harper. The prime minister alleged I had breached some kind of caucus secrets (like he ever tells his MPs anything), but in reality I had been dooced – fired from my job in Parliament because I was sharing my experiences with Canadians through a blog.

At the time I thought using a medium like this to engage, inform and involve people in their own government was a good idea. Silly me. My Conservative colleagues practically nailed me to that big stained oak cross they keep in the corner of the caucus room. The PM’s chief of staff threatened me with being thrown out unless I stopped blogging, and Harper himself said I was a lousy MP because I’d once been a journalist, and “they just want to tell the truth.”

Anyway, Strombo was cool and supportive and I appreciated getting a chance to explain my side of things. Not that it made a lot of difference. I still turned out to be a political failure, tossed out by the voters after I wrote a book telling them their houses were about to drop in value. Who would have thought? Sheesh.

In any case, I hope we talk a little Tuesday night about some of the things that should grab his young audience. Like how governments falling tens of billions into instant debt should piss off every 25-year-old in the country – the folks who will actually pay the taxes to finance this extra debt. Or how the greedy Baby Boomers and their obsession for housing created an asset nobody can afford any more. Or how the feds dreamed up our very own Canadian subprime mortgages – 0/40 loans – which suckered tens of thousands of young buyers into unrepayable debt, and no equity.

Or the real story, which is the effects of climate change over the next decade, which will make the economy look like a ride in the park. Yeah, on a girl bike.

CBC, Tuesday, 11 pm.

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149 comments ↓

#1 Erasmus on 01.26.09 at 8:25 pm

http://business.theglobeandmail.com/servlet/story/RTGAM.20090126.wushomesales0126/BNStory/Business/home

So sales of US sales are up marginally in December. As Garth keeps telling us:

“The median sales price plunged to $175,400 (U.S.), down 15.3 per cent from $207,000 a year ago. That was the lowest price since May, 2003, and the biggest year-over-year drop on records going back to 1968.”

Sales of foreclosures mean little. Especially when there are reams of them not yet even on the market. — Garth

#2 dekethegeek on 01.26.09 at 8:27 pm

George actually looks like he’s checking out the new handlebars….on his tricycle.

#3 Conan on 01.26.09 at 8:32 pm

He has a great show! Garth try to get on the comedy part at the beginning….

My first post on “Greater Fool” . Woot!

#4 Jon B on 01.26.09 at 8:35 pm

I used to watch your MP TV during your gig in Ottawa. Thought it was a brilliant way of keeping your constituents in Halton informed as to what their elected rep was doing. Too bad other MP’s aren’t taking advantage of this technology. Perhaps its just not cool to be accountable to voters.

#5 GB on 01.26.09 at 8:47 pm

Honestly, Garth was just ahead of his time.

What a great concept….using this format to communicate. Afterall, the internet is pretty much taking over the way people investigate and inform themselves.

The problem is that at this point….it appeals to 25-35 year olds the most. AND THEY DON”T VOTE!!!

10 years from now, when that age demographic reaches the point where they see the value in voting, we will see more MP’s go this route.

Ahead of your time Garth. Well done.

#6 dekethegeek on 01.26.09 at 8:50 pm

It will be very interesting to see what the next round of “Big Three Begging” in March will do to the punch drunk, staggering U.S. economy.
If the daily layoff announcements from now til the Ides of March don’t get every red blooded American cringing in economic apoplexy. The the next round of U.S. subprime mortgage renewals coming up this year(6-7 million of them?) will certainly drive a wooden stake through the bloated corpse we affectionately call the Stockmarket.
Japan had them, “Zombies” those quaintly nick-named companies that no one realized were dead, yet the govt kept pumping Billions of Yen into, to keep the voters happy. This sounds vaguely familiar.
One wonders when the US taxpayer will hit the wall and crucify ANY politician that gives good money after bad to a dying auto company.
Can anyone say “Cerebus Can’t Convince Congress so they Killed Chrysler” three times quickly while guzzling a beer?

P.S. Has Ford excepted any of this “free taxpayer funded largess” yet?

#7 kitchener1 on 01.26.09 at 8:55 pm

Besides the fact he’s a pussy biker who rides a sports machine and likely wears a pretty leather jumpsuit.

Hope your not trying to say that all of us sportbiker riders are all a bunch of pussies…………

Looking forward to the show tomorrow night, its great timing right after the budget.

#8 Sudcouver on 01.26.09 at 8:56 pm

Hi Garth,
I will be watching tomorow night. Will you please explain to us youngsters how the snowfall in the UAE is actually a result of global warming?

#9 Alan on 01.26.09 at 9:03 pm

At least he can get around corners without dragging the engine on the ground…

I like sparks. — Garth

#10 ThumbsUp on 01.26.09 at 9:05 pm

Thanks for the headsup Garth, one of my few fav shows, will watch for sure.

#11 john on 01.26.09 at 9:07 pm

LOL you have a way with words Garth.Well if anyone ever had the right to tell Harper “i told you so” you do without question!It appears to me his bubble is starting to burst all around him,heaven forbid it even appears like CBC is giving him his “come-uppence”,he has made a total fool of himself…most definately not the solid leader he portrayed himself to be….but more so an incompetent searching for ideas and a saving of grace no matter what the cost to taxpayers…………but that is old news to anyone watching with his misuse of billions of tax dollars on vote buying schemes. Curiously Harper being the leader of a “coalition party” composed of conservative,reform and alliance parties is very critical of the oppositions coalition….hmmmmmmmmm what is the difference between a party partially composed of western seperatists and a party partially composed of eastern seperatists hmmmm :-).Well whatever the outcome of the budget confidence vote.You were right Garth and that can not be disputed,Harper’s demise is only a matter of time and rest assured i will be spending every free moment (for what its worth) speeding up his demise— :-)

#12 Emma on 01.26.09 at 9:18 pm

Hi Garth. Do you read Dooce’s blog also? She being the original one who was fired from her job due to blogging about her workplace. She has a book out now too!

#13 Dawn in Calgary on 01.26.09 at 9:32 pm

Maybe you could talk about how many sellers just aren’t interested in pricing for this market — how they are greedy and stuck in 2007.

Here’s an example. A 2 Bedroom, 1 bath 27 year old townhome in Calgary.

http://www.realtor.ca/PropertyDetails.aspx?PropertyID=7607901

Asking price? Wait for it…………..

$599,000

#14 EW on VI on 01.26.09 at 10:03 pm

“The greedy baby boomers….created an asset nobody could afford”???? Whats with that Garth? You WERE born in 1949 right??

Why do you blame us? Most “boomers” I know built their houses years ago and have them paid off or nearly so. Most of us have been around long enough to remember the early 80s and 90s to know what can happen. Many of us grew up with parents who lectured us on the great
depression.

Heres a classic for instance. Sister works at a financial institution. She was alarmed at some of the mortgage applications coming in, and reviewed them with her super, the new whiz kid. He wasnt concerned at all. “Real estate never goes down” he said!

Seems to me its the Gen-Xers and younger who applied for the 40/0s that have the problem. Oh yeah, and hanks for walkin on that mortgage kids, my RRSP savings which
I just happened to WORK and SAVE for are in that bank.

And by the way, a lot of us already have a generator, some cash, a little gold and a safe place for it. And we figured it out BEFORE you were famous. infamous. well known.

Otherwise, keep smilin’.

Did I mention bitter, too? — Garth

#15 Hcase on 01.26.09 at 10:04 pm

And I thought we F—[email protected]@ in Vancouver but at least this one has an Ocean View!!!!

http://www.realtor.ca/propertyDetails.aspx?propertyId=7875194

#16 OntarioHouse on 01.26.09 at 10:12 pm

Looking forward to watching it.

#17 OntarioHouse on 01.26.09 at 10:22 pm

#12 Dawn in Calgary
That place looks like a dump from the outside. Only 2 bedrooms and a large condo fee. The sellers are crazy.

#18 Keith in Calgary on 01.26.09 at 10:30 pm

It is interesting that the previously used tagline of “global warming” has been dropped by the world’s leftists for the new term of “climate change” instead……

Seems the cold winter we’re having around the world blew their cover story……..heh.

#19 EW on VI on 01.26.09 at 10:31 pm

No Garth, not bitter, just angry at somebody who lays judgement on all people of a certain group. Cripes man, you sound as bad as NVC! (You do remember I fired –
“trumped” – REE for the order-of-magnitude arithmetic
mistake dont you?)

Oh, and just to add to it, my – no our – generation was the most heavily taxed of all time, so I have no problem with the 25 year olds pullin their weight – if they ever move out!

#20 Charles on 01.26.09 at 10:44 pm

While you’re there, please tell Georgios for the love of God to a) slow down his speech PRONTO, and b) try to enunciate a little, would be a big help, please, I can’t stand the slick way that guy talks, like a used car salesman high as a kite, I can’t even watch his show for 5 seconds, might make an exception for good old Garth there, hoping Garth can plant a barb or two into this thick-waisted basement dweller with too much hair product on his hands, eu yuck

#21 $froma$ia on 01.26.09 at 10:52 pm

Garth, don’t hold back, let Canada have it. Tell George the real bill of goods on his show. I’ll be watching.

Oh ya let him know the correct way to spell Faterdy!

Get it? Fat-Terd-y

#22 Suzukimum on 01.26.09 at 11:01 pm

Garth,

I finished reading your latest book, “After the Crash” last night. Your explanation on how we all got into this financial mess is clear and easy to understand. I wished I could get more people that I know to read Greater Fool and this new book too.

I discovered this blog and read Greater Fool last spring. Since then, I have told many about you and your book whenever the subject of real estate came up. Of course, I could not get any to borrow my copy of your book. But, this is what I have discovered:

1) Most of my neighbours and friends don’t read the newspaper nor listen to the news. I was quite appalled as these people are professionals, who have a university degree. They claimed that they don’t have time to read the newspapers. I guess they are too busy making money at their jobs, but are so stupid with their money. They all bought their SFHs over the past year. One of my neighbours just listed their townhouse for sale last week. They are moving to their middle class McMansion.

2) Some are aware there is a recession, but don’t seem to understand how it will impacts all of us. I know of a family with four young children who are making their third attempt to realize middle class dream of living in a 5-bedroom home. During such uncertain economic times, we would think it will be best to stay put in a house they have already paid for. But, they have decided to move to another city to pursue their dream home at their own expense! They claim that this recession will pass and falling real estate prices will not affect them in the long term.

Yes, there are still many fools out there.

#23 PenGun on 01.26.09 at 11:26 pm

Pussy biker? You “fair weather” “ride to the bar” HD poseurs are the epitome of “pussy bikers”. The expensive costumes are wonderful but you know, a bit gay.

At least George rides a machine that does things, goes fast and turns. As I tell the HD boys in the bar, yes I am big and ugly, “Harley’s are OK. They just don’t go, they don’t stop and they don’t turn. Apart from that they are wonderful”. My first bike was a 57 Sportster. I do know.

Harleys and Angels everywhere here and not one out playing in the snow. Of course your average Harley rider could not pick up that massive boat anchor and it would be ruined by the fall anyway.

Molly my KLR has been down 5 times already in the snow. Great fun and my barkbusters are hardly tweaked at all.

You want to be a bit careful with the pussy deal when you are so very vulnerable.

Love your stuff. You are better off unelected.

#24 dd on 01.26.09 at 11:29 pm

“I still turned out to be a political failure, tossed out by the voters after I wrote a book telling them their houses were about to drop in value. Who would have thought? Sheesh”

Garth … You may not have been elected to the house again but that doesn’t make you a political failure. You have save a lot of people money and misery. Your turn will come again.

#25 dd on 01.26.09 at 11:32 pm

#12 Dawn in Calgary,

If there is a view of a tree … the house is work $25k more in calgary.

#26 Rural Rick on 01.26.09 at 11:39 pm

“Budget item $203,000 for Newfoundland to develop peat moss as an alternative to sawdust as bedding for dairy cows. ”
Peat moss is a finite resource it’s extraction has a big environmental impact. Sawdust is a byproduct of processing a renewable resource. Classic example of Steve just not gettin it.

#27 Bill on 01.26.09 at 11:41 pm

pussy biker ??!! Are you trying to alienate women and young girls who might read your blog? Or are you hoping the little women just depend on their menfolk to understand all this financial real estate stuff?

#28 BigPicture on 01.26.09 at 11:52 pm

Jeremy Graham, this is a great read folks and will you give you a different perspective on this economic mess.

http://www.gmo.com/websitecontent/JGLetter_4Q08.pdf

#29 nonplused on 01.27.09 at 12:01 am

Road bikes are definately better, unless you are one of those kooks who actually goes to the track and races. Plenty fast, more comfortable, and you can put a gallon of milk in the saddle bags and bring it home for the little ones.

They are all donorcycles, but I think the folks likely to stay out of the donor pool are more likely on a road bike.

My ride is a Yamaha V-Star. It’s great. I like Harley’s too but can’t get my head around the massive additional cost for what amounts to the same ride, with a lot of the same parts. Unless you want to customize. Then Harley has way more options.

Either way you get 50 mpg. Stick that in your environmental conservation and smoke it! Better than a hybrid, faster, and more fun. Cheaper too. Unless you buy a Harley.

#30 Dee on 01.27.09 at 12:14 am

Look forward to catching you on the show.

#31 Gold Bug on 01.27.09 at 12:33 am

I’m looking forward to seeing you on CBC show @ 11:00 pm. I hope you make it soon to the 6:00 pm news, so more people can be informed.

The no-deficit historic deficit that doesn’t cost anybody anything budget is soon to be published, looking forward to hearing where the money is going to be spent (printed). Banks are getting their money.
Encouraging incompetence is a moral hazard that will cost 3 times as much as letting the market sort itself out. Maybe it’s too late since other countries are already neck-deep in bailouts.
Middle class will be extinct.

#32 Fight the New World Order on 01.27.09 at 1:07 am

Garth, you really think global warming is happening? It’s actually getting colder and will do so for years to come.

Just like fiat money systems, global warming is a hoax. Obama and the banksters plan on doing a carbon tax grab on each of the US citizens and I’m sure that’s just around the corner for Canadians too. Just think, every time a cow takes a turd some poor farmer is going to have to pay a tax because you folks bought the whole global warming lie hook, line and sinker.

I really appreciate your wisdom on most matters. However, I don’t for one minute believe that Obama or Harper are going to save us and I sure don’t believe in the global warming nonsense. The only Inconvenient Truth for Al Gore is that he is turning into a fat blob — and either he’s a liar or he is very gullible.

#33 supersocco on 01.27.09 at 1:34 am

Tuesday, as in tomorrow the 27th?

Yep. — Garth

#34 Roial1 on 01.27.09 at 1:35 am

#14 Hcase on 01.26.09 at 10:04 pm

And I thought we F—[email protected]@ in Vancouver but at least this one has an Ocean View!!!!

http://www.realtor.ca/propertyDetails.aspx?propertyId=7875194

Hey, Wassamatter wi’ch u. It’s beach frontage and under a million. Wad’yu want? bricks????

#35 bumbum on 01.27.09 at 1:38 am

Breaking News!!!!! Lower Mainland Real Estate has bottomed?!!!!

“It took just three hours for anxious real estate buyers to scoop up 55 units at the Flo highrise condos on Elmbridge Way on Monday.

Cameron McNeill, president of MAC Marketing Solutions, told The Richmond Review he sees a bright future for the Lower Mainland’s real estate market, and that perhaps the downturn in the real estate market has already hit rock bottom.

“McNeill sees the first half of 2009 as a phenomenal time for buyers to enter the real estate market.

And Monday proved that there are people ready to buy real estate, but they’ve been waiting for the right time to buy.

“I feel the tides are changing,” McNeill said.”

full story at http://www.bclocalnews.com/business/37836089.html

#36 DVDA on 01.27.09 at 2:01 am

HAHA Garth, love the opening line. I know George will laugh hard.

#37 jeff smith on 01.27.09 at 2:39 am

#12 Dawn in Calgary on 01.26.09 at 9:32 pm

Maybe you could talk about how many sellers just aren’t interested in pricing for this market — how they are greedy and stuck in 2007.

Here’s an example. A 2 Bedroom, 1 bath 27 year old townhome in Calgary.

http://www.realtor.ca/PropertyDetails.aspx?PropertyID=7607901

Asking price? Wait for it…………..

$599,000

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

GOD HELP US! That is just unbelievable!

#38 Pasta Patriot on 01.27.09 at 4:40 am

Garth,

Strombo has no ratings. He does a CBC show. Nobody watches. Look it up. I admire your passion for carrying the message into the heart of urban socialist darkness, but you will be casting pearls before swine. The CBC is the embodiment of waste in this country.

#39 J from Campbellville on 01.27.09 at 6:13 am

Garth can’t wait to see the show. I think it’s priceless that it’s happening on a day when the government delivers it’s latest plan of destruction.
Perhaps you could mention the voters could support George’s million acts of green campaign to the tune of 30 million plus by throwing out Harper as that surely a way to start a greener more hopeful future

Just finished the new book and couldn’t put it down it just reaffirmed my thinking on the need to be prepared for the worst. Interestingly I went to Rockwood to look at pellet stoves this past weekend and it seems there is a heighted interest in them these days.

Just so you now your book has been very helpful as I have 3 employess who work for me in my distribution company looking at buying houses to which they now understand is a bad idea. Power to them
Ironically the agents had been telling them there is no better time to buy. I asked them to have there agents furnish them with all the listings they’ve had in the last 90 days with the listing price and then the sold amount

You Guessed it the number was ZERO!

Of course there was a perfectly logical reason for this as it would seem there clients removed them from the market opting to wait to maximize there value in the hotter spring market reaffirming now is the time to buy.
What they forgot to tell my people is the the HOTTER tha HELL spring market will start the burn to the bottom.

I will be contactin you or the people of Xurbia in the next few days to disscuss a generator as well as an idea I have that could be offer through your site.

Knowledge and truth equal power
Keep up the good work as it has a purpose

#40 somecatch on 01.27.09 at 6:34 am

The current state of financial markets and RE markets present huge opportunties for twentysomethings and thirtysomethings. i.e. RE still has a long way to go down, governments printing money means paying back student loans will become easier, great values to be had in precious metals and commodities. . .

#41 sail1 on 01.27.09 at 7:24 am

Garth: I assume that Mr. Drummond is blaming every one else, with the exception of any Canadian governments. I guess everyone is blaming Greenspan.

No matter how much Ottawa opts to spend, Canada’s recovery depends largely on what happens beyond its borders.

“We have to hasten to remind ourselves that we’re not the country that tanked the rest of the world,” said Don Drummond, chief economist with Toronto-Dominion Bank. “The rest of the world tanked us. The domestic side of our economy held up a lot longer than it did in other places.”

There is another inescapable truth about Canada’s economic well-being that can’t be addressed by a fiscal stimulus, no matter how large.

“Canadian economic performance isn’t driven much by our own fiscal policy,” Mr. Drummond said. “It’s much more driven by the international climate.”

With a file from reporter Kevin Carmichael in Ottawa

http://www.theglobeandmail.com/servlet/story/RTGAM.20090127.wrnumbers27/BNStory/budget2009/home

#42 Leasa on 01.27.09 at 7:31 am

Speaking of those 25 year olds that ‘should be pissed off’, I wonder if they’d be more pissed off if Harper pulled a Martin and gutted the military, health, education and the like. Harper could insist on running no deficit…I for one am happy he isn’t cruel like that and I think a few others are as well. L

#43 Brent on 01.27.09 at 7:34 am

Ever hear of Houston? It’s another oil town, albeit a tad bigger then Edmonton or Calgary. Check this out !!!

http://www.realtor.com/realestateandhomes-detail/10830-Opal-Ridge-Dr_Houston_TX_77095_1105521198

#44 brazer on 01.27.09 at 8:06 am

http://ca.news.yahoo.com/s/cbc/090122/canada/canada_britishcolumbia_bc_developer_lawsuit_presale_contract_deposits_1

Developer sues condo pre-sale buyers for abandoning deposits

VANCOUVER (CBC) – It’s the newest trend in B.C. real estate: developers suing pre-sale condominium buyers who are walking away from their deposits.

Vancouver real estate developer Amacon has filed lawsuits against seven buyers in the last month for pulling out of Surrey’s Morgan Heights development, CBC News has learned.

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

here is the “next” chapter in this saga…

#45 Apocalypse Now on 01.27.09 at 8:20 am

#31 Fight the New World Order

Climate change maybe coming; inquiring minds want to know what is causing it and how do the pundits really know that it is coming? Garth, do you know something we folks don’t?

The established order has its controlled opposition; like the KKK and nation of Islam being controlled by the same paymasters. I wonder if Mr. Turner has a different agenda for this blog since altruism is not a normal human trait, and it is hard for me to believe that all Mr. Turner has is the welfare of Canadians at heart?

#46 OttawaMike on 01.27.09 at 8:22 am

“Besides the fact he’s a pussy biker who rides a sports machine and likely wears a pretty leather jumpsuit”

So what if we sport bike riders look like Shazam the Power Ranger in our leathers.
The Tractor (cruiser) riders also have their outlandish leather Chaps and a helmet made of a child’s plastic sand bucket (or some other sort of unapproved soup bowl).
Just make sure you have pants on under your chaps on national television ;>)

#47 pbrasseur on 01.27.09 at 8:25 am

Pussy biker????

Some of those “pussy bikes” can reach 300km/h!!!!

Harleys are nothing more than harmchairs for fat boomers. That style will likely retire with them…

As for climate change, assuming it turns out to be real at all (I mean much of the noise about it so far is sensationalist garbage) it is nothing we can’t adapt to. Better stick what you know: real estate.

#48 David on 01.27.09 at 8:28 am

I plan on watching Garth tonight on Strombo’s show and will encourage my friends to do likewise. The housing asset bubble is no longer a debatable issue, but dealing with its consequences certainly are of import. All those dumb memes about real estate are ringing hollow with a collapsing financial system requiring a steady stream of taxpayer cash to keep those garbage assets on life support.

#49 jcinns on 01.27.09 at 8:40 am

will be watching.. heard you on CBC Mainstreet in Halifax last week. Awesome job.

Had a freaking experience. I was reading After the Crash, when I got called by a polling company Topic – climate change, economy and personal financial literacy – e.g. understanding that if you have an interest only payment loan, and only make the interestr payments, your principle won’t drop. One of the questions was “where do you get your mortgage advice…” My answer, Garth Turner. (: hope to see you when you are in Halifax in Feb. Hey BTW did you commission the poll?

#50 Midas on 01.27.09 at 8:42 am

http://thehousingbubbleblog.com/index.html

This is a good site for a preview of what is coming soon to Vancouver. Here’s a quote: The Fresno Bee. “Home prices in the Fresno area have plunged below the national average. The median price of sold houses in December in Fresno and Clovis was $154,000, a 39.6% decline from a year previously, said Jared Martin, president of the Fresno Association of Realtors. Pending sales — transactions that hadn’t closed — carried a median price of $144,840.” “We’re below the national average [of $181,000], and we are in California, not Nebraska,’ said Patrick Conner, owner of one of Fresno’s largest residential real estate firms.”

Don’t be surprised if Vancouver ends up going lower than Halifax. For all the naysayers out there, would you have believed two years ago that median pricing of houses in California, anywhere in California would be lower than the national average? Who would have believed that parts of California would go so low that the median price would end up lower than that of houses in North Dakota?

In a past post someone misquoted I Timothy 6:10 as ‘Money is the root of all evil.’ The correct quote is, ‘The LOVE of money is the root of all evil.’ Money is not evil, money can be used to do as much good as it can be to do evil. As a matter of fact Titus 1:15 tells us that ‘Unto the pure all things are pure’ and this includes money. Guns are not evil because they can kill people, people who pull the triggers are; food is not evil just because it can make people obese, wine is not evil just because some people get drunk on it. It is how money is applied that brings about good or evil results; therefore it is deceptive and misleading to misquote from scripture to prove a point; leave that to preachers and priests, they do that every Sunday when they pass the offering plate. At least preachers and priests only do that on Sundays, politicians on the other hand do it every day. Let’s keep this blog honest or we are no better than they.

#51 Jim Tuba on 01.27.09 at 8:48 am

Home prices fall at record pace
Index of 20 U.S. cities shows 18.2% annual drop, to the lowest levels since 2004.
http://money.cnn.com/2009/01/27/real_estate/home_price_losses_continue/index.htm?postversion=2009012709

#52 Remi Obligacion on 01.27.09 at 9:06 am

Garth – It’s important to note the emotional state of greiving viewers. On your program tonight the new “scare” ahead along with the real estate meltdown is the sense of entitlement people will have. We will be witness to all this until people capitulate. Better bring the tissue box – it’s going to take a straght face.

#53 Patrick on 01.27.09 at 9:08 am

Harley Davidson makes motorcycles? I thought they just made t-shirts.

I used to laugh at the squirrel-hunting/get-a-generator references in this blog, even though I’ve heard it all before from my friend’s dad who survived post-war Berlin. Then my power went out for 24 hours in Toronto’s west end the other week — at minus 20 celsius. It’s astounding how quickly a ~$400K house (which I rent, by the way) can become utterly useless.

For the first time in ages, I will be tuning in to the CBC tonight. Looking forward to it, Mr. Turner.

#54 smwhite on 01.27.09 at 9:08 am

#37 Pasta Patriot

Exactly, where does public broadcasting have a place in this world, better turn it of to CTV or CTVNewnet so you’ll get a shot at seeing the next upcoming senator candidates.

Thank goodness this government is willing to follow the USA into the abyss, otherwise we might have gotten out of this this as just a recession….

Looks like its going to be a party this afternoon on Parliment Hill, Joe Taxpayer, your going to get a handful of beans and a wheel-barrow full of future debt.

Remember all that cash sitting on the sidelines, well because you, Joe, didn’t spend it(and thought you were wise to not by SAVING), your government will for you…

#55 Kash is King on 01.27.09 at 9:09 am

Ironically, Harper is about to demonstrate he’s the biggest liberal spender since the evil commie… Trudeau.

History will show that Paul Martin was the biggest “fiscal” conservative since the Diefenbaker era, in reference to his spending cuts in the 90’s.

Anybody remember what that caused that?
Big socialist spending and debt growth started by Chairman Pierre, and carried on by Mulroney’s Blue Flavoured Liberals.
Canada was literally almost bankrupt at the start of the 90’s, just like the UK is now after years of Labour Party negligence.

Now we’re headed down that same path again?

Shame!

This is putting a huge burden on future generations… all to keep us surrounded with stainless steel and radon-emitting granite interior furnishings.

BTW, anyone remember when the quintessential old man’s car was a 4dr Buick?
These days it’s a Harley.
Seriously, whenever you see a Harley, usually it’s usually piloted by some variant of Santa Claus.

#56 Rural Rick on 01.27.09 at 9:13 am

Even though is is freezing cold in Canada global warming is happening right now. That fact is not debatable. You could possibly debate the cause of it but not the fact that it is happening.
http://www.nasa.gov/worldbook/global_warming_worldbook.html
http://www.noaanews.noaa.gov/stories2009/20090113_ncdcstats.html
Do your own research don’t rely on the media.

#57 Hcase on 01.27.09 at 9:18 am

#31
Hey, Wassamatter wi’ch u. It’s beach frontage and under a million. Wad’yu want? bricks????

I see you are from the area —–hehehe I love Vancouver……(more dope please)

#58 RS on 01.27.09 at 9:20 am

Can’t wait to see you tonight Garth! Break a leg!

#59 Flounder Digest on 01.27.09 at 9:24 am

” Or how the greedy Baby Boomers and their obsession for housing created an asset nobody can afford any more.”
And how did the Boomers fixate on that obsession?
Remember the children’s story about the “Flounder Fish in the Sea?”
Well we’re now on our way back to the hovel.

#60 Rhino on 01.27.09 at 9:36 am

Hi Garth…

We miss ya on the politics thing! With what is going on, it must be hard for you to RESTRAIN yourself and stay on topic sometimes… Sad to see your net stalkers have decided to CRAP on you here too.

Back on target, here in “stable” Montreal West Island, things are starting to show on the real estate side. Remember, we had our “crash” over a decade ago, as major manufacturing moved out due to political uncertainty, and since then, this has become possibly one of the most affordable places to actually OWN a home.

My daily doggie meanderings are noticing more and more signs of property for sale. Not necessarily new houses, since the old ones seem to stay up for sale longer – if they sell at all. It is giving a definite impression that the market is not that healthy. properties not selling, and an inventory building. In particular, homes owned and lived in by contractors are now being offered and not selling even after being given “the treatment”.

On the areas undergoing development, things seem to have slowed, and prepared lots are just sitting there in many areas.

While your blog seems centered on private housing, I must mention that all along the T-Can, the heart of industrial west island, more large commercial properties are up for rent. Business is quietly shutting down, and while these do not draw headlines since only a couple of hundred are affected, in the collective, it is not a pretty picture.

As a prevoius poster noted, the employment figures do not give much a picture of the reality. The Mom & Pop shops, independent contractors like me, are all getting a major hit. Since we are NOT even considered in the figures, they are grossly understating our daily reality.

I have VERY little confidence in the Harperite ability to address this problem, and think they have been playing politics with the continuous leaking in order to protect their jobs. All policy seems centered on the largest voting block – the middle class steady employed, and little consideration for the unwashed masses. This will not turn the economy around. It is a political document; not a financial one. It saddens me that it will likely pass, but being in government is a job in itself – and that is NOT looking out for Canadians for the most part.

I hope to catch you on Georgies show tonight. If I can stay awake after working twice as hrd for half the cash. Maybe you can even mention that if there had not been a 2% cut in the GST, Canada would be MUCH better off right now – as would the 25-year-olds coming along.

#61 stunned on 01.27.09 at 9:43 am

I agree with Bill (#26). Women read your blog- don’t you want to keep it that way?

You are living up to your name. — Garth

#62 Kilt on 01.27.09 at 10:01 am

Real Estate looking up for 2009?

http://calsun.canoe.ca/Business/2009/01/27/8158476-sun.html

What a load of crap this is. Someone obviously hasn’t been looking at January’s numbers.

http://www.bobtruman.com/Edmonton_SFH_stats/page_1918017.html

A scan of Vancouver’s and Calgary’s numbers show a similar story.

Who the hell did they survey. Obviously none of the people laid off due to the Suncor expansion cutbacks. I understand the need to keep spirits and confidence up, but if people can’t afford these insane prices, then prices aren’t going to go up.

Kilt.

#63 cms on 01.27.09 at 10:08 am

It’s too bad that no one will remember Paul Martin Jr. for the $11 billion he guaranteed for medicare. Did you ever wonder why Harper hasn’t had to worry about health care? This is why.

‘The problem is that at this point….it appeals to 25-35 year olds the most. AND THEY DON”T VOTE!!!’

Speak for yourself.

Garth, I look forward to seeing you on the Ceeb. Good luck and break a leg.

#64 infernalmachine on 01.27.09 at 10:19 am

To GB (#5) – at the risk of sounding peurile and defensive, I will nonetheless point out that I am a young 25 year old professional and yes, I actually vote (cue shock and awe). Seems like I will be renting my digs for a while to come, though. Thanks Garth for telling it like it is.

#65 Keith in Calgary on 01.27.09 at 10:21 am

#54 Rural Rick……

You must sell real estate as well…..heh.

#66 Expat in NC on 01.27.09 at 10:25 am

#24 – Brent: Beautiful house for an amazing price. Compare that to the other links for the properties in BC and Calgary above yours.

Being an Expat with all my family and wife’s family in an around the GTA I was seriously contemplating moving back to the GTA (east side – Ajax/Whitby). But I am having serious reservations now. I trust that the house prices will go down there, but the gap of real property from what you get there and what you get here in NC for the same price (even after price drops, etc) is astounding. And beautiful weather and friendly people for free too :-). The more I read the Star and Globe, the less I want to move back.

I look at those links for houses in the GTA and other provinces that some of you post and I just shake my head. I am selling my house here in NC and I wonder why sometimes. 2400sqft, 1/4 acre of land, on the end of a cul-de-sac for less that $275k. Keep posting crazy MLS links and I’ll likely pull my house of the market here and just stay :-)

#67 Kestral on 01.27.09 at 10:34 am

Congrats Garth on getting on the show, break a leg! I’m in the 18-35 demographic that should like the show but I seriously can’t stand him, enough that I just can’t watch it. Would it be possible to just have you on the show doing a monologue so I don’t have to see his “pretend to be a voice of the young when I’m just a puppet for the powers that be and oh, look at me while I make my moody wanna-be rockstar pose!” mug?

Looking forward to seeing the excerpts on YouTube or Bit Torrent, as that’s what people in my demographic generally do :)

#68 Canned Goods and Buckshot on 01.27.09 at 10:37 am

re: Climate change deniers

When I read posts that call climate change a hoax or left wing conspiracy I wonder if they are just put out here as fishing line to bait people like me. I’m fairly well educated and I question prevailing wisdom regularly too.

But on the subject of climate change, there is no debate anymore on whether humans are causing climate change. Period. The debate is how to mitigate the effects, whether it is worthwile to do so and pessimistically whether it can be done at all.

Much has been written on how the people who benefit from denying climate change manipulate the media into contructing a balanced arguement or “debate” when in fact there is no rational scientific model from which to argue the point. The manipulation of media has been accomplished using the same techniques used by the tobacco industry to deny tobacco causes cancer and other diseases.

Yet many people continue to argue with the climate scientists. When I encounter someone who disagrees about whether climate change is caused by humans, I routinely state that its hard to get scientists to agree on much because by nature they like to be precise and poke holes in the method used to arrive at the position of other scientists. Yet, the Intergovernmental Panel on Climate Change, a huge body of scientists from all over the world, has come out with consensus statements on how dire the situation is. They AGREE! So, who are you going to believe? The scientists or the radio talk show host trying to get ratings? If you have a kidney problem that will cause you to die without treatment, would you take your barber’s advice on how to get better, or would you to a nephrologist, a doctor who specializes in kidney problems? In the same way that most of us would make an appointment to see the specialist, public policy needs to heed the warnings of the IPCC and we need to have a debate (and quickly) about what and how we are going to do, and not about whether or not we have kidney disease.

#69 Jelly on 01.27.09 at 10:58 am

That George Stromowhatever is not funny at all!

He is quite embarrassing actually, surely we must have

better “comedians” or TV personalities in Canada?

It’s like Canadian Prime Ministers, I always end up

thinking to myself, “This is the best Canada has?

You’ve GOT to be joking!!” I just find it hard to believe

that in a great country like this that typically has a

good reputation, does not have better people to

represent us. More charismatic, funny, intelligent etc.

George better do a good job, this will probably be the only time I watch him-interviewing Garth…

#70 Greg W., Oakville on 01.27.09 at 11:03 am

Hi Garth,

Speaking about climbate change and the environment.
I just got this today from the Green Party.

(This the first paragraph of the e-mail;)‏

‘Please join us in raising the alarm / Joignez-vous à nous pour sonner l’alarme!’

The financial crisis has created a political stampede to stimulate the economy, and as usual the Conservative government is using a crisis as a cover. It is planning to dismantle Canada’s environmental protection legislation. Transport Minister John Baird said recently that the plan to speed up infrastructure spending is being held up by 100-year-old rules. This is the same man who gave us a climate change plan designed to accomplish nothing other than media hits.

For more on this try or there home page;
http://www.greenparty.ca/en/media-release/2009-01-13/greens-accuse-harper-government-planning-gutting-conservation-legislation

#71 Greg W., Oakville on 01.27.09 at 11:10 am

Hi #44 Apocalypse Now on 01.27.09 at 8:20 am,

It sounds like you have never met Mr Turner?

I have, and I think he is ‘for real’.

#72 wjp on 01.27.09 at 11:25 am

#65…you obviously do not know George at all!

#73 Jelly on 01.27.09 at 11:25 am

I bet US sales went “up” solely on the fact that Canadians have been going down to buy properties like crazy. My friend keeps trying to get me to go down with
her and buy in Arizona. She thinks, how low can it go?
I’ve got to get in now! I tell her it will only get lower,
it will get ridiculously low, if there are not any buyers,
it will get as low as it needs to go to sell…

#74 Dawn in Calgary on 01.27.09 at 11:26 am

#42 Brent;

My husband and I were looking at those Houston listings last night — and were aghast. There is absolutely no reason homes are the price they are in this city. We’re seriously thinking of moving, even if prices come down another 20%. 20% off of half a mil is still a hell of a lot of money — even if we do make $130k/year.

Plus it’s way too frickin cold here. :-)

#75 pbrasseur on 01.27.09 at 11:28 am

@Canned Goods and Buckshot (#66)

“But on the subject of climate change, there is no debate anymore on whether humans are causing climate change. Period.”

That’s BS

Many scientists still argue the point, just because you discard or discredit them doesn’t mean they don’t exist.

#76 Mariposa on 01.27.09 at 11:30 am

Kestral has it dead on! I’m in that demographic too.

Garth, have you thought of doing a weekly commentary on youtube? That would be extremely cool! A lot of people my age (early 30’s) don’t make sense of a lot of the lingo on this blog…It’s something they hear their parents talk about. A new language to break down all the financial lingo for those in a completely different field would be awesome!

#77 kc on 01.27.09 at 11:40 am

OMG – this was a wonderful place for information, now it is turning into debates about harleys and global warming….

All you harley riders need to start tearing apart your bikes to understand that they were at one time made in USA, today the majority of the parts are made… guess where… JAPAN, don’t believe me? tear aprt the heads and look carefully, today harleys are mass produced… ever since the mid 90’s there has been an influx of cheap parts mass assembled. years back if you wanted to own a harley they were made in USA one bike at a time and you had to order them then wait and wait for your order. Today go to the “shop” and plunk down your cash (or credit card) and drive it away….

Now moving onto “Global Warming” to any one who eats this pill, Have a reality check… it is the new “green” shift all BS. mass fear of the end of the world with floods and droughts and all that BS, trying to scare the masses into thinking the world is going to end… Study earth patterns and you may find that the world has been changing for millions of years ebbs and flows are part of nature. Global warming is as scary as the Y2K hoax. Before the ice age the north was way warmer than it is today, the “warming” is just the receeding ice age, people who swallow the “theory” of Global Warming may as well build yourself a life raft for the emerging tides…. take a reality check and stop believing everything that others stuff down your throat and do your own research. If a scientist want to study purple widges in the north he will get no funding, however, if he was to say I want to study the effects of global warming on the purple widges in the north he will get tons of money…

put that in your crack pipe and smoke it…..

#78 Jelly on 01.27.09 at 11:42 am

Bill re#26

What are you going on about?

Garth has never for a second tried implying that women

can’t understand financial stuff. I think it is YOU that

has the issue, stop reading into words that are too

grown up for you. Man, I can’t stand people who get

offended at words like “crap” and things like that!

Are you sure you are not actually Real Estate Expert,

or Rick? Seriously, don’t you think there are more

important things to get upset about than little

bitty “swear words”?! They are used to make a

J_O_K_E – Get It?

#79 Jelly on 01.27.09 at 11:54 am

PS,

The “girl bike” comment was obviously harmless and

light hearted. I don’t for a second believe Garth is

a chauvinist, he was just trying to bug someone about

a bike for goodness sake.

Now women are supposed to get offended in the stereotype that they do not ride as many bikes as men? It seems like you can’t say anything anymore, yuppy language, it’s boring and it sucks royally!

#80 Another Albertan on 01.27.09 at 11:54 am

I received an interesting email overnight from a colleague who is a senior executive in Dubai. Here are some excerpts:

“Things are like every where else are topsy turvey and uncertainty fills the air. Dubai is over-extended on all fronts and as an economy that depends on services is suffering (oil is less than 5% of Dubai’s GDP. The Abu Dhabi story is of course very different). Property prices are falling sharply but the banks are not sure what to do. Credit has dried up. There are almost 6000 fancy cars that were driven to the airport and left in the car park with keys inside. The owners just left the country. The immaturity of the market here is showing up. Lay-offs are occurring at a rapid pace but being it a 90% expat work force, it is hard to gauge it. Laid-off people just leave to their home countries.”

“The oil price drop has shaken the economy in the region very much. Budgets are going rapidly from super surplus to deficit. A lot of the mega projects are being deferred, cancelled or stopped. That will have impact on my business.”

“On the business front I believe that 2009 is going to be tough but nothing as compared to 2010. I have a backlog of projects (that will not be cancelled) that would take us through to Nov 2009. Beyond that all bets are off. If orders do not come to beef up the backlog, it will be a cold 2010 even in this part of the world”

#81 David Bakody on 01.27.09 at 11:55 am

#1 Erasmus on 01.26.09 at 8:25 ….. hey dude/dudette this ain’t peanuts.

Bank bailout could cost $4 trillion
Banks don’t have enough capital to fix their problems, which means the Obama administration may need a lot more money to clean up the financial mess.
By Colin Barr, senior writer
Last Updated: January 27, 2009: 11:21 AM ET

http://money.cnn.com/2009/01/27/news/bigger.bailout.fortune/index.htm?postversion=2009012711

Was talking with a guy in Tims this morning who just returned from out west, ….. things are not good and housing if you call it that were put together with Wall Mart paper and glue has tanked. So go get your bargin?

WC Fields: “There’s a sucker born every minute”

#82 Jelly on 01.27.09 at 11:59 am

Garth,

Yes, you should go on Youtube like Peter Schiff and all them. I enjoy watching him, he always gets the better of the interviewer who is trying to discredit him.
I found the youtube posting interesting when they cut him off on BBC or CNN I believe, and tried to say it was an accident. It was obvious he was going to say why the government was at fault for the problems and all of a sudden…poof disconnected. Very suspicious, obviously. I love his guts, he does not care who he pisses off, totally tells it like it is.

#83 just sayin' on 01.27.09 at 12:02 pm

#73

http://www.ec.gc.ca/scitech/default.asp?lang=En&n=2A953C90-1&offset=6&toc=show

#84 Jelly on 01.27.09 at 12:02 pm

Garth, I would watch you on Youtube,
I love watching Peter Schiff when he
gets all sarcastic with the interviewer.
It was interesting when they cut him off
on CNN or BBC when he was obviously
going to talk about how the government
was at fault for the problems. All of a sudden,
poof, mic was cut, totally suspicious.
No, the government does not control media,
surely not!

#85 Canned Goods and Buckshot on 01.27.09 at 12:07 pm

@ pbrasseur # 73

Please check the credentials of the scientists who argue the point. Just calling themselves a scientist doesn’t make them one. If somebody’s view is discredited it means its not a very valid view.

#86 $froma$ia on 01.27.09 at 12:07 pm

Mark Carney’s comments totally discust me. He calaims that Canada is expected to come out of a recession by 2010-2011 er whatever giving that the other banks in the world stabilize…

I remember about two years ago when 0/40 mortgages were introduced, Carney was not happy with the Finance Minister.

Now It really apears that Carney is working with Flaherty to calm Canadians.

Carney is clearly covering for Flaherty and also trying to cover the high potential of mass Canadian foreclosures in the near future all leading back to Flaherties introduction of the 0/40 mortgage.

Please cover this, Canadians are getting skewed and screwed.

#87 rory on 01.27.09 at 12:17 pm

#72 Dawn in Calgary

Dawn makes a very valid point as to how Canadians perceive real estate prices in the US. Why would Canadians pay the big bucks for our houses when Americans do not?

It is just one more factor that will hammer down prices. Perception does equal reality.

#88 kc on 01.27.09 at 12:25 pm

Garth – If Citigroup and or BankOfAmerica goes down from their over exposures, how much exposure do Canadian Banks hold in assests or investments? For if Citi was to implode, the reverberations will be felt world wide. I was wondering about Canada, any thoughts or insights?

#89 kc on 01.27.09 at 12:30 pm

Garth – Any idea how much exposure Canadian banks have to Citigroup or Bank Of America? If either one of these 2 that aree deemed “to big to fail” go down what type of reverberations will be felt across the borfer or around the world?

(if this is posted twice my appoligies) something went south when i hit submit last time.

#90 mattbg on 01.27.09 at 12:43 pm

Soon after I read this post, I came across another one on Tyler Hamilton’s blog (the Toronto Star energy reporter), including this line:

“I met up with Canadian Natural Resources Minister Lisa Raitt last week, and when I mentioned geothermal as an opportunity in Alberta she was a deer in headlights.”

:)

#91 Jimster on 01.27.09 at 12:46 pm

BusinessWeek – Rents Drop Nationwide as Vacancies Spike

http://finance.yahoo.com/real-estate/article/106480/Rents-Drop-Nationwide-as-Vacancies-Spike

(apologies if repeat)

#92 Johnny_Five on 01.27.09 at 12:51 pm

Drove by the “premier Toronto Condominium Residence – Living Shangir-La” today. A busy site up until about a month ago. Looks like they were moving along after their start date was months past the original completion date. Now look:
http://www.livingshangri-latoronto.com/webcam/

Yep, that’s it. A hole in the ground. These 2.3MM suites aren’t going to get built no matter what anyone thinks. There were exactly 5 people on that site today. Yet another harbinger in the doom that is this economy.

#93 Charles on 01.27.09 at 12:53 pm

Hi, I’m a man and I have a hard time understanding the words the people in this blog use. All that fancy financial lingo type big words ya’ll are using scare me and make me feel like not reading a newspaper. Words like ‘saving’ and how to figure out how interest rates affect your mortgage payment.

We need a brand new language that doesn’t require a brain or ears or eyes. Like a blind mole, with it’s head stuck up my arse.

People in my demographic prefer to get their news by watching ten second funny clips on YouTube, so I look forward to everybody moving over there because my poor little pale and weak man fingers hurt from typing whole words out, .

MY GOD, NO WONDER WE ARE IN THE MESS WE’RE IN! JAY-SUS!

And to anyone who is offended at the use of the word Pussy; you’re all fags!

http://members.macconnect.com/users/t/tnolen/GiantPussy.jpg

#94 North Vancouver Citizen on 01.27.09 at 12:54 pm

…Return Of The Three-Day Work Week…

In the UK, government sources say shorter hours would be preferable to mass unemployment: Britain is facing return of three-day week

The prospect of the three-day week returned to haunt Britain yesterday as it emerged that ministers are considering paying firms to cut hours in order to survive the recession.

Tens of thousands of businesses are already planning to scale back working hours this year in an effort to stay afloat. But as the country comes to terms with the reality of a recession, it emerged that the Government is looking at compensating employees, through their firms – thereby drawing comparisons with the shutdowns of the 1970s.

While the move would safeguard jobs, it would mean that the financial crisis is on a much larger scale, further undermining confidence in the economy with the suggestion of Britain grinding to a halt.

Major firms such as JCB have already downed tools for one day a week and are considering moving to a three-day week, with state help, if the recession gets worse. The firm’s chief executive, Matthew Taylor, said that he is pressing Lord Mandelson, the Secretary of State for Business, to introduce compensation for workers if their hours are reduced.
Taylor wants everyone to work three days and the government pay for the extra two. Is this supposed to be a viable plan?

‘Soviet’ Britain swells amid the recession

The Times online is reporting ‘Soviet’ Britain swells amid the recession.

PARTS of the United Kingdom have become so heavily dependent on government spending that the private sector is generating less than a third of the regional economy, a new analysis has found.

The study of “Soviet Britain” has found the government’s share of output and expenditure has now surged to more than 60% in some areas of England and over 70% elsewhere.

Experts believe the recession will tighten the state’s grip still further as benefit handouts soar and Labour directs public sector organisations to create jobs to soak up unemployment.

In the northeast of England the state is expected to be responsible for 66.4% of the economy this year, up from 58.7% when a similar study was carried out four years ago. When Labour came to power, the figure was 53.8%.

Across the whole of the UK, 49% of the economy will consist of state spending, while in Wales, the figure will be 71.6% – up from 59% in 2004-5. Nowhere in mainland Britain, however, comes close to Northern Ireland, where the state is responsible for 77.6% of spending, despite the supposed resurgence of the economy after the end of the Troubles.

Even in southern England, the government’s share of spending is growing relentlessly. In the southeast, it has gone up from 33% to 36% of the economy in four years.

The state now looms far larger in many parts of Britain than it did in former Soviet satellite states such as Hungary and Slovakia as they emerged from communism in the 1990s, when state spending accounted for about 60% of their economies.

“It’s not that the public sector in the northeast is too big, it is that the private sector is too small,” said Malcolm Page, deputy chief executive of One North East. “The decline of traditional industries in the past means we need to establish more big private-sector companies in the region.”
The government’s share of spending is about 50%. And to top it off , JCB wants it to increase. When does the 3 day week start here?

#95 Rich Grover in Van on 01.27.09 at 12:57 pm

Garth must have just watched Gran Torino

#96 North Vancouver Citizen on 01.27.09 at 1:04 pm

…See you at your Vancouver speaking engagement.

You will most likely end up moving here since this Canadian Paradise is the place to live…..since a three or four day work week will be legislated for Canada soon.

…Did I ever mention Vancouver will become the next Financial/Trade and Leisure Capital of North America?

#97 jess on 01.27.09 at 1:26 pm

I am a boomer and rather like George so i will watch.

for the climate interested you may prefer to go to George Monbiot Guardian uk.

“In most cases, they cherrypick scientific findings; in a few cases, like the fake scientific paper attached to the celebrated Oregon petition, they make them up altogether. But people who don’t understand the difference between a peer-reviewed paper and a pamphlet are taken in.”

hyperinflationist might like a blog by mish who looks at schiff and his declarations … logical

creative /destruction with a little keynes stimulus

#98 Bay Street Lawyer on 01.27.09 at 1:36 pm

Garth:

http://business.theglobeandmail.com/servlet/story/RTGAM.20090127.wcarney0127/BNStory/Business/home

Mr. Carney appears to be refuting your claims of an oncoming deflationary period. Same tired argument on his part – we’re not the USA, we’re more stable, it’s just a crisis of confidence. He also seems to assert that the central bank has a few more bullets to fire at this problem. What they might be, I have no idea. Guess he counts each rate cut as a “bullet”. Soon he’ll be firing a bebe gun at an oncoming freight train.

#99 $froma$ia on 01.27.09 at 1:37 pm

Garth, your making it a big mistake for Harper to kick a Journalist out of the house of commons!!! :)

#100 Leasa on 01.27.09 at 1:42 pm

#91 Charles on 01.27.09 at 12:53 pm

Charles, that picture is a hoax, just so you know. Pussy and fags…no matter how much things change, they always stay the same. What’s next? L

#101 whiterock on 01.27.09 at 2:05 pm

To the very creepy NVC troll. I’m sure Garth can’t wait to meet you.

#102 POL-CAN on 01.27.09 at 2:33 pm

# 85 rory

The canadian consumer/taxpayer has been subsidising the USA consumer for decades. Everything we buy in Canada is more expensive then in the USA. Why do you think we cross the border for shopping day trips?

Why are cars more here then down south? Even when they are assembled here… Housing, electronics, food, smokes, beer, liquor, and my favorite TAXES, are all higher in Canada then in the USA.

Also… some jobs pay better in the USA then here in Canada so really we take it from both ends all the time….

We have become sheep. We have forgotten how to look after ourselves. We are not interested in thinking for ourselves, in being informed, and hence we lost the ability to keep the people in power honest.

We tell ourselves that we live in the greatest country in the world. That our education system is the best. That our healthcare is good and free….. That are leaders are honest. What a bunch of crap…. Anyone who has actually been outside of this continent knows that….

Toronto is not a world class city (what a joke)…. Vancouver will never be the finantial capitol of Canada or North America (lol)…. The only culture we have is what new immigrants bring with them….

This world is bullshit….

It feels good to rant :)

#103 jess on 01.27.09 at 2:41 pm

I am a boomer and rather like George so i will watch.

for the climate interested you may prefer to go to George Monbiot Guardian uk.

“In most cases, they cherrypick scientific findings; in a few cases, like the fake scientific paper attached to the celebrated Oregon petition, they make them up altogether. But people who don’t understand the difference between a peer-reviewed paper and a pamphlet are taken in.”

hyperinflationist might like a blog by mish who looks at schiff and his declarations … logical

creative /destruction with a little keynes stimulus

#104 dd on 01.27.09 at 2:44 pm

#93 North Vancouver Citizen

“You will most likely end up moving here since this Canadian Paradise is the place to live…..since a three or four day work week will be legislated for Canada soon.”

Wow … didn’t know that people could live on 3 days of work in Vancouver.

#105 jess on 01.27.09 at 2:49 pm

In the United States, it is often used to refer to a series of anti-tax state initiative campaigns. The first significant wave of these campaigns was during the 1930s. The Great Depression introduced unprecedented tax burdens to Americans. While real estate values plummeted and unemployment skyrocketed, the cost of government remained high. As a result, taxes as a percentage of the national income nearly doubled from 11.6 percent in 1921 to 21.1 in 1932. Most of the increase took place at the local level and especially squeezed the resources of real estate taxpayers. Local tax delinquency rose steadily to a still standing record of 26.3% in 1933. wikipedia

THE GREAT DEPRESSION TAX REVOLTS REVISITED Mark Thornton and Chetley Weise

#106 Alex Curylo on 01.27.09 at 3:07 pm

@Rural Rick:

“global warming is happening right now. That fact is not debatable.”

Depends on what time scale you pick. Over 500 years? Yep. 5000? Nope. 50000? Yep. 500000? Nope.

If you pick the last 11 years, it is not happening. Why 11? Because 11 years ago was the highest global temperature recorded from satellites. Examine this graph of temperatures – both CRUT3v and MSU – since.

http://icecap.us/images/uploads/TEMPSvsCO2.jpg

Those are the only temperature records that actually *are* not debatable, as they are measurements not adjusted estimates. And, examine the green line. That’s the C02 concentration. Even if you were clueless enough to buy the argument that C02 is anything other than plant food and more of it is always better 10 years ago when the slopes had happened to match for a while, this graph puts that theory to rest quite conclusively.

Indeed, if you actually draw your conclusions from the real world, the evidence is conclusive that emitting more C02 actually cools the planet, yes? Brrrrrrr.

@Canned Goods and Buckshot:

“Yet, the Intergovernmental Panel on Climate Change, a huge body of scientists from all over the world, has come out with consensus statements on how dire the situation is. They AGREE!”

Two points here.

Minor point: The C02 hypothesis, when you actually drill through the IPCC reports, is a product of only six lead researchers. Not a single one of their papers has ever been subjected to an audit. Everything built on them is simply researchers following the money. $5 billion a year is a pretty good gravy train to jump onto!

Major point: Whenever you use the word “consensus”, that immediately demonstrates that you do not understand science. For a hypothesis to be scientific, it must be falsifiable — that is, provable. Consensus proves precisely nothing. To argue otherwise is to argue that Newtonian celestial mechanics is correct because the consensus was that it was when Einstein published the theory of relativity.

Oh, wait, no, that’s not a good analogy. Newtonian mechanics had the vast majority of observational evidence on its side. AGW has nothing other than the slope of two curves for the majority of the 1980s and 1990s as support — there is exactly the same proof of causation that there is for the correlation between a graph of my age over that time period and that I spew more hot air as I get older.

Sure, that sounds ridiculous … but deducing the forcing factor of C02 from the slope of the temperature graph, which is what AGW theory boils down to, is exactly as ridiculous. And the vitriol and hounding that pursues people like Svensmark that produce alternative theories that actually agree with observed facts, unlike AGW, well that’s going to be a rather interesting chapter in future histories of this period, indeed.

#107 jess on 01.27.09 at 3:17 pm

so is the culture of excessive risk taking over ?

…”in the financial sector, you know, when 25% of the value of the stock market is financial firms, it used to be 12%. When one third of all profits coming form financial firms means too much money , and too much resources are going there. Too many of the best minds of the U.S. were going into finance, you know. When you have a country with more financial engineers than computer engineers, or mechanical engineers, you have a problem. So I think you need a reallocation of both human capital, people, and also capital away from finance and into the things more entrepreneurial and lead to longer economic growth, so maybe there was excessive growth of the financial system, at least in the U.S., and the UK – not in other countries. In emerging markets the financial system has to develop and contribute to growth even more than in the past, but in the U.S. it became excessive, maybe people finishing their MBAs, you know, my students are worried about jobs because they all want to go on Wall Street. Maybe they should become entrepreneurs, or do other things. There is more to life than just Wall Street.” nouriel roubini

#108 Keith in Calgary on 01.27.09 at 3:30 pm

Johnny_Five……

There’s plenty of those holes in Calgary right now….yah gotta be careful walking home from the bar at night if you live around the downtown/beltline area.

#109 rory on 01.27.09 at 4:07 pm

Hi all…link to a housing survey. This is #5, if you can get #4 you will see the overpriced markets coming down …all the US markets are off but suprising Van & Vic are holding on but the storm is coming if we assume we are in lag to the US …Kelowna has dropped from 8.5 to 6.8 in one year …places like Winnipeg went from 2.7 to 3.0 …will be interesting if it moves out from affordable to higher numbers …interesting stuff.

Other notables – San Fran from 10.8 to 8.0; LA from 11.5 to 7.2. and for Dawn in Calgary – Houston unchanged at 2.9.

http://www.demographia.com/dhi.pdf

#110 $froma$ia on 01.27.09 at 4:10 pm

Ladies and Gentlemen, after listening to our cheap ass Finance Minister with his cheap ass budget we now can expect an election.

Viva la coalition.

#111 Glenn on 01.27.09 at 4:12 pm

That is an inordinately large feline there, Charles. Anyhow, Garth, you sound like one of those biker wanna-be’s muttering “mail order bride” when I go out on the town with my sexy young foreign wife (10 years younger then me and could do modeling if she wanted to!). Its all good, because the “all hat, no cattle” set gets to go home to their bloated tattoo’d “old ladies” who, for the most part, tip the scales at or above the weight of their Harley Softail. Damn, now I miss my 1990 Yamaha FRZ-600. That thing was a magnet for many nubile Drexel college girls in South Philadelphia, and earned me quite a few notches on my belt…if you know what I mean. Probably not.

#112 Westcoaster on 01.27.09 at 4:59 pm

Not that you need additional cannon fodder, Mr. Turner, but this snippet from today’s Victoria Times-Colonist is like waving a big red banner in front of you. I look forward to hearing you in Victoria.
http://www.timescolonist.com/Homes/Real+estate+activity+starts+pick/1221434/story.html

#113 Mike B on 01.27.09 at 5:11 pm

NVC 93 ohhhh did I mention that NVC should be banned from this site. Vancouver idiots who proclaim expertise in things they are obviously not experts in are but a molecule away from lambasting.
Ohhhh did I mention Van might be the site of the next white supremasist convention. Ohhh … But I guess you already know that clansman.

#114 905er & Spouse on 01.27.09 at 5:25 pm

#26 and #59- I really have to agree with you. I was contemplating a comment, as it seemed like a rude and derogatory thing. It is nice to know some men feel this way too and are sensitive enough to recognize offensive language. :)

#115 Tim Bit from Timmins on 01.27.09 at 6:46 pm

North Vancouver Citizen wrote “you will most likely end up moving herre since this Canadian Paradise is the place to live…..since a three or four day work week will be legislated for Canada soon.”

Yessiresir. Let’s teach those Chinese factory workers over in Asia how its done. Those fools (some with university degrees) are putting bumpers on cars for less than $4.00 a day. Would you believe…some are working 7 days a week. With the North American competive work ethic and diminished work week we will fix em real good. Yesiresir.

#116 john on 01.27.09 at 7:07 pm

Home purchasers and sellers rest easy “dim jim and slippery steve” have it all under control in fact we will be back in surplus in 4 years (right).Tax cuts which are a joke if you are a small wage earner you might save $35 a year and if you are are the highest scale you might save $140 a year (im quite sure the average person could pick up more cash than that walking the highways for beer bottles :-) ).UI benefits scale frozen but if you sit on your butt for 50 weeks you get another 5 weeks (now thats productive) and after that?–welfare perhaps?.Infrastructure –sounds good but it is only available to provinces if they put up an equal amount…hmmmm can they afford it? ..whatever the result taxes will go up…….and if you ever watched a group of municipal workers hard at it…could be quite strenuous on your blood pressure if your out of work and hungry. I wonder how much of that money will actually pass into out of workers hands by the time it filters down thru the beauacracy? Oh and last but not least there are several million for upgrading “rinks” and “pools” hmmmm wonder if that could be the $300 million plus already approved for Northlands Collisium and Calgary stampede grounds (curious with a depression facing us at least we will have good rinks and pools :-) ). Well relax folks our government that couldn’t project a recession a week away are assuring us in 4 years we will be back in surplus (cool) but who the hell is going to pay for all this?????

#117 Shawn on 01.27.09 at 7:10 pm

The Strombo Show…well I think George is alright I think he is setting a decent example for Gen Xers. Also, you have to admit he has some talent. He can host a USA rock show, be passionate about music, and discuss current events on The Hour. George is a binder, he can pull together and connect with Gen Y, X, and the Boomers. It is a good place to address a broad audience..good luck

#118 Vespa poofta on 01.27.09 at 7:31 pm

You may say JFK or FDR or LBJ or RMN but poor Barak it doesn’t work well for him..

#119 squidly77 on 01.27.09 at 8:05 pm

This is what happens after bankers and realtors on commission get hold of an economy.

“The world is not going back to normal after the magnitude of what they have done.”

#120 Ron on 01.27.09 at 8:40 pm

It is easy to write a generation off as lazy, pot headed slackers, but has anyone considered that some people may find it difficult to justify submitting a written permission form that sanctions a party to lie,cheat and steal from you for yet another four years. The youth have no faith in arrogant old men in suits making shady backroom deals. Of course, I vote religiously.

On another note,
As far as global warming goes, who cares? Any reason we can come up with to make the world a little quieter and less stinky seems like a good one to me.

#121 Brent on 01.27.09 at 8:41 pm

Yes, were totally off the deep end on EVERYTHING we pay for up here in never never frozen land. If I could live and work down there, I’d be gone in a second.
Sorry for the lack of patriotism.

#122 Ron on 01.27.09 at 8:43 pm

It is easy to write a generation off as lazy, pot headed slackers, but has anyone considered that some people may find it difficult to justify submitting a written permission form that sanctions a party to lie,cheat and steal from you for yet another four years. The youth have no faith in arrogant old men in suits making shady back room deals. Of course, I vote religiously.

On another note,
As far as global warming goes, who cares? Any reason we can come up with to make the world a little quieter and less stinky seems like a good one to me.

#123 squidly77 on 01.27.09 at 8:46 pm

a blogger called Fight the New World Order

good luck with that..

#124 charliegosurf on 01.27.09 at 8:50 pm

was lost ridin on a white sunny cold and fuzzy Canadian sandy snowy beach. The sugar sounds as i surfed across meant only one thing, this was real.

Thnaks Garth, for keep in it real, keepinit sound, like it should be. Obnoxious to many, the truth hurts mor than often.

Oxford would be so upset, uptitght and up and up, about the Web. This spider world we live in makes for interessting time indeed.

George Knows, Everybody konos that this world needs to CHANGE, but greed and confort, lazyness most likelly, make this planet a strange one.

amen, or wtfe

#125 Jimster on 01.27.09 at 8:52 pm

Seems to me that conditions has changed sufficently enough to warrant an election.

#126 TheComingDepression on 01.27.09 at 8:57 pm

Have you witnessed where the US 825 billion dollar dole out went to? INSANITY. Click on the name above.

#127 jeff smith on 01.27.09 at 9:27 pm

Oh yep I agree with kc on the Global Warming scarmongering too. Lets face it, you will get more funding for your research if its sounds really scary. Remember acid rains back in the 80s?? I thought we were all going die…

#75 kc on 01.27.09 at 11:40 am

OMG – this was a wonderful place for information, now it is turning into debates about harleys and global warming….

All you harley riders need to start tearing apart your bikes to understand that they were at one time made in USA, today the majority of the parts are made… guess where… JAPAN, don’t believe me? tear aprt the heads and look carefully, today harleys are mass produced… ever since the mid 90’s there has been an influx of cheap parts mass assembled. years back if you wanted to own a harley they were made in USA one bike at a time and you had to order them then wait and wait for your order. Today go to the “shop” and plunk down your cash (or credit card) and drive it away….

Now moving onto “Global Warming” to any one who eats this pill, Have a reality check… it is the new “green” shift all BS. mass fear of the end of the world with floods and droughts and all that BS, trying to scare the masses into thinking the world is going to end… Study earth patterns and you may find that the world has been changing for millions of years ebbs and flows are part of nature. Global warming is as scary as the Y2K hoax. Before the ice age the north was way warmer than it is today, the “warming” is just the receeding ice age, people who swallow the “theory” of Global Warming may as well build yourself a life raft for the emerging tides…. take a reality check and stop believing everything that others stuff down your throat and do your own research. If a scientist want to study purple widges in the north he will get no funding, however, if he was to say I want to study the effects of global warming on the purple widges in the north he will get tons of money…

put that in your crack pipe and smoke it…..

#128 kc on 01.27.09 at 9:48 pm

The world bank must have very deep pockets…. seems every country in the world is running huge debts and deficits… ok , now who is going to be buying Canada’s debt load as it becomes loaded into treasuries and bonds and sold off to the open market…??? or so I have this wrong again?? we don’t have far to look… just toss your eyes south of the border to see what can happen to debt strapped countries.. i was reading on a different site that was saying that the Chinese are pulling back in the tresuries bonds that the US are flogging… watch what happens when no one buys this next time around…. No one can answer the most simpliest question… Who are we being financed by?? it is easy to say we are heading into debt spending for the next 5 years.. however, A + B dont seem to add up here. For debts to be sold off we need buyers, OR will we end up like a 3rd world country where we work for peanuts extracting our natural resources to give away to the countries that bought our (now defaulted) debts?? things don’t add up. If it was just that easy to get ahead in this country one would think that our country would be in great shape… its easy just keep running billion dollar deficits every year and who cares… IF anyone knows of real web sites that may help to explain this to me please enlighten me for I am completely trying to figure out who we are debted to… I can’t see canadians buying that much canada savings bonds to even start to cover our debt load.

#129 George on 01.27.09 at 9:52 pm

Garth,
You should have called strombolopolous a d#ck then you could have had the transgender community after you on this discussion board too.

#130 Bill-Muskoka (N.A.M.) on 01.27.09 at 9:56 pm

Garth, I suggest takling several balloons with you. Blow them up slowly to demonstrate inflation over the course of the past few decades.

Then take a pin, or other sharp object, labelled ‘REALITY’ and burst the balloon demonstrating the reality inflation faces every time.

Like George Carlin said about the U.S. Flag ‘It is a symbol for the symbol minded.’

The balloons should make for a vidid and comprehensible illustration to even the most ardent iPod infatuated, drugged up, confused Consumermaniac younger people watching. Heck, it may even get the point across to many Boomers.

It may even sublimily demonstrate what an infected body piercing will do when the puss reaches the bursting point?

Whatever you do, have fun!

#131 Future Expatriate on 01.27.09 at 10:14 pm

People, please, relax. Garth isn’t a politician anymore, he can be just as politically incorrect as he wants to be.

Besides, it’s very good for business. And more importantly, getting the word out.

#132 Calberta on 01.27.09 at 10:15 pm

All Dim Jim and Harper did today was put out the “Canada for Sale sign”, so China can buy our debt right along with the USA. Dim Jim is doing the same thing Federally as he did Provincially in Ontario and so Garth I hope you get to comment on “those who don’t learn from history are doomed to repeat it”

#133 Wealthy renter 2 on 01.27.09 at 11:02 pm

#86 – KC – The next shoe to drop is the Canadian real estate story. Our own “subprime”. Regardless of whether any of the CAD banks have exposure to US subprime is not as relevant as when the sh$t hits the fan on the Canadian Housing crisis. This is when we will witness the sickening drop in the stock prices of our CAD banks. The reverberations to the Canadian economy will be harsh. Completely frozen credit, more job loss, loss of confidence in the our banking system…
and (hope this doesn’t happen – restricted withdrawals, bank nationalization) We’re not immune, and irony of this that this was a home grown problem, not a virus that we caught from the US.

#134 bailoutsLOL on 01.27.09 at 11:57 pm

To #130
All Dim Jim and Harper did today was put out the “Canada for Sale sign”, so China can buy our debt right along with the USA.

Our budget was terrible.

But lets get serious. How is the USA going to “own” us? They’re going to run a deficit at 10% of GDP. Please explain to me how they’re going to get in the biz of buying everyone elses debt when they’re the biggest debtor nation in the world?

#135 27 year old house owner on 01.28.09 at 12:03 am

Canadian Housing Crisis? Haha sure. Do you people realize Canada has the number 1 banking system in the world? All this talk about the price of houses going lower and lower in the US is just hilarious. The price cannot go lower then at least what the materials and land is worth.

Now, granted you can get extreme cases like a 2 storey house in Detroit for $30,000 but the US is a giant country. There are place in the US with continual stable growth. Dont paint a whole situation with one brush.

I have owned a house for 4 years and my house has doubled in value. Thats including the current values of today. Ya your right that sucks. House prices do go up over time – the last 40 years in fact. In that time there have been at least 3 or 4 economic cycles. This is just one of them .

#136 nonplused on 01.28.09 at 12:34 am

#46 pbrasseur

What good is 300 kph on a street vehicle? First, the highest speed limit in Canada is 110, and second, no you cannot control the bike at anywhere near that speed even on a straight track, but definately not on a road. Way more dangerous than my derided generator hack. Hopefully you don’t kill someone else when you go.

My F350 with a trailer on seems to keep pace with all the 911’s running to the same destinations.

Speed kills folks. Plus it is unattainable unless you are on a track. And thank dog for that. You cannot control the vehicle at high speeds. You think you can, but unless you have been trained, you can’t. And even with training you are pushing the envelope.

#137 Alex Curylo on 01.28.09 at 12:35 am

Heh. Just stumbled across this … rather apropos to the AGW thread:

“Retired senior NASA atmospheric scientist, Dr. John S. Theon, the former supervisor of James Hansen, NASA’s vocal man-made global warming fear soothsayer, has now publicly declared himself a skeptic…

http://epw.senate.gov/public/index.cfm?FuseAction=Minority.Blogs&ContentRecord_id=1a5e6e32-802a-23ad-40ed-ecd53cd3d320

Continuing to argue with the climate scientists, indeed!

#138 Steve on 01.28.09 at 1:09 am

I watched and read what I have today and tried to assess for myself what was in the budget. Well to quote this in After the Crash…..

We’re screwed.

#139 kc on 01.28.09 at 3:09 am

131 yes I am fully aware of the Canadian sub prime mess and the next shoe in that regards. I know canada has a few skeltons in the closet. I was more concerned about the derivitives that are killing citi and BoA, not to mention that they both are on a serious death watch as their stock prices are tanking again. The question was directed more at how much volatility is Canada’s banks in regards to the practices of these banks if they happen to go bust? We all know that our Govt are lieing bastards when it comes to “canada is sound …. blah blah blah… sign here to go past go and collect 80 billion deficits…..”

Canada’s own sub prime ( I was preaching about that months back) isn’t news…. however, when citi goes tits up WATCH OUT.

#140 kc on 01.28.09 at 3:12 am

adding to that… watch out if and when the US Govt nationalizes the banks…. eeeks

#141 TomOfMilton on 01.28.09 at 5:35 am

I too feel that the reason for the climate change is not 100% certain and merits some debate…BUT:
The fact that the climate IS changing and the results that will come from it is perhaps not so debatable. We do need to do something about it. BUT:
Only a fool tries to fix something without understanding the root cause…SO:
We are back where we started…arguing about the cause. Well, I personally am willing to accept the reasons given for climate changes when it talks about how we produce green house gases.
I start to get annoyed when the really wacky ones start suggesting the cause is the number of kids I have (they think too many)…or that the government should start metering private water wells…or taking away people’s freedoms in general. {sigh}

#142 Ron on 01.28.09 at 8:21 am

Hi TomOfMilton,

I thought that the fool was the guy who sat around debating minutia while ignoring intuition and failing to act.

27 year old house owner,

You really know your stuff.
I guess Garth can just shut down the blog now, his good work is no longer required.

#143 Glenn on 01.28.09 at 10:50 am

#133 – 27 year old house owner, oh my…you poor child. You are from Calgary, hmm? All thats missing from your post is the obligatory “Hey, it cant happen here, were not stinky Americans!” Are you even aware that formerly wealthy Iceland, once rated the #1 nation on God’s green earth by the UN, has become effectively insolvent and now stands on the brink of outright revolution? And all within 6 odd months!

#144 jess on 01.28.09 at 11:57 am

I have a question :

Is the reset value of 100 dollars every eleventh year and is that 2010?

#145 Alex Curylo on 01.28.09 at 2:26 pm

[Not a repost!]

@Canned Goods and Buckshot:

“Yet, the Intergovernmental Panel on Climate Change, a huge body of scientists from all over the world, has come out with consensus statements on how dire the situation is. They AGREE!”

Hey, look at this that showed up today. It’s like you’re some kind of tipping point all by yourself!

“Today, a founder of the International Journal of Forecasting, Journal of Forecasting, International Institute of Forecasters, and International Symposium on Forecasting, and the author of Long-range Forecasting (1978, 1985), the Principles of Forecasting Handbook, and over 70 papers on forecasting, Dr J. Scott Armstrong, tabled a statement declaring that the forecasting process used by the Intergovernmental Panel on Climate Change (IPCC) lacks a scientific basis…”

http://jennifermarohasy.com/blog/2009/01/no-scientific-forecasts-to-support-global-warming/#more-4115

As you said … “So, who are you going to believe?”

#146 John Burgoyne on 01.28.09 at 5:01 pm

Fight the New World Order, Alex Curylo, and Jeff Smith:

So, on the tin foil hat, does the shiny reflective side point out or in?

http://www.realclimate.org/

#147 Accremonium on 01.28.09 at 7:58 pm

#17 Keith in Calgary on 01.26.09 at 10:30 pm

Try telling them that in Adelaide, Aus. today where the mercury topped 46 degr. C. I guess the Go Blow Warming is a down under phenom. And we are getting all this snow because it is going out of style, I suppose! Whatever.
And if you want an economic prediction, this recession will not get to bottom before several nations will want to have a good go at each other with guns, bombs, and what ever they can get their hands on. The Depression will be pre-empted by war in several places. And I have not heard the fat lady sing yet!

#148 Bottoms_Up on 01.28.09 at 8:10 pm

Garth, first time I saw you speak was last night on the show (I caught a time shift at 9pm). Great job, you eloquently discussed your major points and likely sold a ton more books.

#149 27 year old house owner on 01.29.09 at 2:51 am

Ron – Garth should shut down his blog? What kind of comment is that? I happen to have a different opinion then him so therefore you feel you have the right to tell me “I really know my stuff”.

Garth makes some good points but in my mind he is just another “expert”. Before you jump all over me for that last comment here this. I have learned that almost every “expert” is wrong on something. Just like the experts who Garth quote in his Greater Fool book, how are we to trust one expert from the next?

Glenn – Poor me? I am very grateful for being able to live in Canada with the freedoms it has to offer – my comment was purely sarcastic. Sorry you didnt pick up on it. I dont know what Iceland being ranked on the top of a UN best place to live list has anything to do with the discussion.

If real estate is so bad why does Garth own 4 properties?

Three at the moment, actually. No mortgages, though. — Garth