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HA HA Garth- You and all the peon’s that listen to your financial ‘advise’ are losing it all! Get physical gold and silver you stupid bitch.

Normally I delete one post in a few hundred. Normally I tell you why.

But over the past few days I gave up and just hit the KILL button, and obliterated a mess of comments like the one above. They came from the usual rabble – people who hate America and want it crushed. GIC-lovers and fear-biters who crave a market crash to justify their own wussiness. Anti-1%ers and proud members of the socialist horde who love it when the investment portfolios of others are smouldering. And, of course, the under-employed, basement-dwelling Millennial masses who would like Boomers to retire in the penury they richly deserve for stealing all the houses and hoarding all the jobs.

Well, tough.

In case you didn’t hear the news, equity markets in Toronto and New York soared again Thursday. We’ve just had the best two-day rally since way back in 2009. You can tell how powerful this is by the fact the stock market no longer leads the 6 pm TV news or is plastered across every newspaper’s web site. When things go well, you don’t hear about it. When they suck, it’s a prelude to oblivion.

Not only did stocks recover in a dramatic fashion (adding about a thousand points in two sessions), but there was an unprecedented rise in the value of oil – ahead 10% in a single day. Crude’s now heading back towards the $45 level, just days after it looked destined for thirty bucks. In concert, commodity prices in general romped to better levels, and Canada’s prospects perked a little.

At the heart of all this?

No surprise. It’s the steadily recovering US economy. So I hope this week was a reminder to everyone of this blog’s premier advice (after the relationship counseling, of course): never bet against America. Those who did, shorting US equity markets, were creamed. People who gave up their nerve and sold into the storm on Monday lost a whack of money. There was never any doubt, as this pathetic blog told you, that the positive fundamentals remained in place.

So now we know the American economy shot the lights out in Q2. Annualized economic growth was a ribald 3.7%, blowing past all of the expert estimates. This comes atop growth of 2.3% in the first quarter. That was enough to ignite stocks and restore confidence around the world, since the American economy is the undisputed engine of the global economy.

There was more, too.

Consumer confidence is heading higher. This is no surprise with an average of 211,000 new jobs appearing in the US every month. As I told you, 13 million of them have been created in the last 65 months, the most impressive record in a generation. At the same time cheaper energy has reduced household costs, and American families – unlike ones here – have steadily reduced their debt levels, so the costs of servicing that debt drop. Now consumer and business spending is on the increase.

Corporate profits have been consistently robust. Jobless benefit claims are declining. Sales of resale homes in the US climbed in July for the sixth time in seven months. New home sales are at the highest level in eight years. And now the stock market has enjoyed the strongest back-to-back advance since the current bull market was born six years ago.

Stocks have recovered in Europe and in China, where the index soared 5.3% amid more moves by the interventionist government to stabilize markets and restore investor confidence. And now the next question is when the Fed will begin its program of raising interest rates. Whether it will occur is not even a debate. Only when.

The betting had been for September 17th, prior to the wild swings on equity markets. Now traders figure there’s a 30% of that happening, but about 100% odds of the pop taking place by the end of the year. Maybe October, or an outside chance of December. The exact timing is less important than the event itself – an historic one, after 10 long years of cheap money policy.

So, not much has changed.

America motors ahead. The recovery is intact, and strengthening. The bull market for equities continues after steam was blown off and values corrected. The days of cheap money are still numbered. Expect higher bond yields and more costly mortgages here by Thanksgiving. This is likely the low water mark for interest rates and the high water mark for house prices.

It also reminds us of how many souls there are capable of being led around by the nose, quick to panic, devoid of confidence and willing – if not wanting – to believe the worst.

There’s a reason wealthy people stay that way. And why others get DELETED.

198 comments ↓

#1 Ray Skunk on 08.27.15 at 6:32 pm

No matter how shitty a day I’m having… from this point forth I’ll always think of Garth’s client who demanded the liquidation of his entire portfolio at the bottom of the trough.

“Dayum.”

#2 JSS on 08.27.15 at 6:32 pm

Lots of talk on this blog about US stock markets.
How about some words about the TSX.

#3 batt519 on 08.27.15 at 6:37 pm

I’m wealthy. QEIV before rates rise 0.75%.
I was also deleted yesterday.

#4 james on 08.27.15 at 6:39 pm

“Anti-1%ers and proud members of the socialist horde who love it when the investment portfolios of others are smouldering.”

What amuses me are the ‘progressives’ who love watching the stock markets melt, while at the same time they are big fans of government pension plans. As if pensions and the stock market have nothing to do with each other. It is kind of amusing, in a sad sort of way.

#5 NotARetard on 08.27.15 at 6:45 pm

I’m not gonna lie, it was painful to lose $10,000 in two days. And that was a lot less than it could have been had my modest portfolio not been diversified and balanced. I had to grit my teeth and remind myself that it was only temporary and it would be back.

And it is. A good chunk of it anyway, and a lot faster than expected.

I’m just slightly sorry I didn’t have any spare cash to buy in during the nice opportunity created by panic selling idiots.

#6 mitzerboy aka queencity kid on 08.27.15 at 6:45 pm

u betcha garth
never bet again the usa !

those people who were callin china to be reserve currency r kinda hush hush now

#7 S.Bby on 08.27.15 at 6:46 pm

“When things go well, you don’t hear about it.” – Garth

But the opposite of stocks, when it’s real estate that’s doing well, then that’s all over the news. When real estate is doing poorly, well you never hear about that.

#8 Frank on 08.27.15 at 6:47 pm

So you’re pretty candid about Canadian politics, how do you feel about American stewards of the economy? Is the Obama administration managing it well or could a dead dog be successful on the backs of American ingenuity?

Would you rather see a Dem or Republican in the white house next year are far as the US economy goes?

#9 not 1st on 08.27.15 at 6:53 pm

If things are so good in the US, how come they hate obama and love the donald?

#10 54 Days to an NDP Government! on 08.27.15 at 6:54 pm

http://www.thestar.com/news/federal-election/2015/08/27/ndp-in-reach-of-majority-new-poll-suggests.html

Change is coming!

Garth, after revealing to us what a complete prick Harper was to you, and what a reckless manager of our indebted oil/real estate economy the Conservatives are, you cannot possibly be thinking of voting for anyone but Mulcair, can you? Or do you have some bizarre case of Stockholm Syndrome, wanting the neocon abuse to continue for all Canadians?

Come on out of the closet and join us ;)

REAL CHANGE FOR THE BETTER IS ON THE WAY!!!!!!!!!!!!!!!!!!!!!!!!!

#11 OttawaMike on 08.27.15 at 6:56 pm

A foolish comment. The Fed did not cause nor remediate the market correction. — Garth’
——————————

And the Fed had nothing to do with the canadian housing bubble. People bought up houses and drove up the market after the 08 crisis because it seemed like a good thing to do.

The fed has everything to do with the commodities , bond and OECD housing bubbles. You think this will be an orderly unwind when rates rise?
And that’s not all: The longer they maintain ZIRP, the worse the tsunami will be when they do pull the trigger.

#12 crossbordershopper on 08.27.15 at 6:57 pm

i still have my 1% ring from 30 years ago, another time in my life when being a 1%’er meant a totally different thing then it does now.
a good friend passed last month, member of the old club, not this new club stuff now. i could tell a story or two, but it involved being on the wrong side of the law so I will pass. RIP Pedro.

#13 Brunett43 on 08.27.15 at 6:59 pm

There was a little too much fem bashing here in yesterdays blog. You know those “house horny” chic’s who have pussy whipped their hubbies into keeping up with the Jone’s syndrome. Well, I’m not one of them, that said, I know many males who are bad with finances, over spend and are into expensive toys that only depreciate. I was married to one, dumped him. Anyways, I ‘ve been reading this blog now for a couple months and very much appreciate the advice you give to all of us who want to invest and grow our wealth. I also read other financial news and you’ve been pretty much spot on. I met with my (fee based) advisor a few weeks back and reviewed my investments, they are diversified as you suggested, I even gave him notes that I’ve taken from here. So I’m good.

But I have to admit this week was a little nerve racking and I kept coming here for reassurance!

Hugs bugs Mr. T. :)

#14 CP on 08.27.15 at 7:00 pm

“Lots of talk on this blog about US stock markets.
How about some words about the TSX.”

Yah! A very few of us are really underweight maple. Should we be buying at this level, or waiting for the Garth to take off his glasses and sit in the PMs chair?

#15 Retired Boomer - WI on 08.27.15 at 7:09 pm

So, what is wrong with having a little “wealth” before one shakes off this mortal coil? Not a dam thing in my book.
Let the kid piss the rest away. Figured out you get to smoke here, or hereafter, maybe both, maybe just here.

Who really knows?
I figure I’d don’t need to be the LAST to leave this party, or any other for that matter. I am not the first, they already left.
It is Thursday, drawing time is 6:30 at the Pub. Time to get my Brandy Fix, see my buds, and remember tomorrow is another day. Who needs gold? OI did buy some FCX does that count? Hey at $8 a share why not get a few hundred? Who knew? Later gang.

#16 Trojan House on 08.27.15 at 7:15 pm

Yes, even with all the volatility, U.S. equities are rising but I don’t believe it is for the reasons you suggest.

#17 The New Blue is Orange on 08.27.15 at 7:20 pm

I miss F. I appreciated his debt sermons. He was making great news this week:
http://ipolitics.ca/2015/08/25/the-eye-roll-a-viral-video-pulls-the-late-jim-flaherty-into-the-duffy-debate/

#18 Ponzius Pilatus on 08.27.15 at 7:21 pm

Maybe the American Eagle is soaring.
What worries me, though, is the Dragon in the room.

#19 Steerage Bilge on 08.27.15 at 7:21 pm

So when you refused to be silenced by harpo and the boys, was this blog exactly what you had in mind?!

Keep up the great work – place is hilarious.

#20 Common sense on 08.27.15 at 7:21 pm

Once again…well said…

I’ll be the first to admit, I sold individual stocks a few weeks back, took my profits and have been on the sidelines for these 2 days of great gains. Also shorted oil and lost 20% today yet still up 119% over 3 months since purchase. It’s only 2 days…..

Yes the USA looks terrific and hopefully the stimulus of 3 QE programs and low interest rates are finally starting to kick in.

The thing with this blog is …no one has control over the events of what will influence the markets tomorrow. No one. We all have our own personal views and it is no use whatsoever bragging when we are up or fighting someone else if their view’s differ. To each their own. On a common sense basis, Garth’s portfolio strategy makes sense for a majority of people. To challenge him or mine is worthless..

Ultimately the day we start to cash out our investments and need the money is the day that truly matters. Until then it’s keep diversified and keep your costs low. As simple as that and not worth fighting about.

Good post Garth….you keep me grounded.

#21 Scumop on 08.27.15 at 7:23 pm

One or two days ago in dead tree Sun news, I read a piece by Elizabeth May. She wrote about immigrant investors driving up housing prices and how she would put a stop to it.

Sometimes she seems smart, other times…. not so much. Maybe its an appeal to the xenophobe segment.

Not on my vote-for list anyway.

#22 Sheane Wallace on 08.27.15 at 7:26 pm

#15 Retired Boomer – WI

Who needs gold?
…………………………..
Never ever underestimate gold. It is a global market and will always have some /significant/ value.

#23 the Jaguar on 08.27.15 at 7:29 pm

Not in today’s blog, but in the previous two, Garth alluded to a “significant something” that is going to happen in the next few weeks. I have been trying to figure out what it might be ……

It’s Obama announcing his “NO” decision on the Keystone XL Pipeline, isn’t it Garth? Should be any day now.
That would be bad news, especially in the patch.

#24 Sheane Wallace on 08.27.15 at 7:30 pm

Stocks have recovered in Europe and in China
…………………………………..
Still 10 % down from top, could easily go down another 10 %

If the economy is good why are the interest rates at zero?
……………………
since the American economy is the undisputed engine of the global economy.

…………………….
It is actually the Chinese economy that is the engine fo the world. 8 + % growth in 30 years,

#25 Sheane Wallace on 08.27.15 at 7:31 pm

and the advice to have 1 % in Chinese stocks is mildly putting it stupid.

#26 Guy Willoughby on 08.27.15 at 7:32 pm

Good day Garth:

I remember an article you posted about your portfolio and how it went down in the crash of 2008 but came back up again in a couple of months. You may want to re-post it. Seems people think with their emotions too much, either exuberance or fear. I don’t think the sky is falling.

#27 one mil is nothing on 08.27.15 at 7:35 pm

Advanced students of markets will anticipate the start of a new uptrend in the canadian dollar. Just because its moved down so far, so fast with nothing on the horizon to make it go lower, taken together with today’s oil jolt, it’s time for the shorts to book their profits over the next few days. Get ready to estabish a new shorts on a 2 cent plus rally. I hope Doctor Herdinomics books his proifits in time.

#28 BobC on 08.27.15 at 7:36 pm

#9 Not 1st
We’re doing great in spite of Obama. My grandmother used to tell me that the only way to cure a liberal is to give them what they want. We did.
Americans don’t like socialism. We’ll take care of ourselves and our families. We don’t need someone else to give us everything.
Like a pendulum it’s swinging back with Trump.

#29 Sheane Wallace on 08.27.15 at 7:37 pm

Otherwise agree on the bull market in stocks.

#30 White Crock BC on 08.27.15 at 7:43 pm

The American recovery just doesn’t make sense to me. As big as they are, they are not an ‘island’.

The rest of the world it would seem, is in some kind of trouble. China, Venezuela, Greece, Spain, Japan, Canada…Everyone but the US… really?

Their high flying dollar doesn’t affect their exports. Their $19 Trillion dollar debt doesn’t seem to matter to anyone. The 55 million Americans on food stamps? Massive trade deficit?

I don’t get it.

#31 robert turpin on 08.27.15 at 7:44 pm

Starting today I will skip the comments and just concentrate on your well explained points.life is too short to waste any time on argumentative time wasters.thank you very much for your public spirited contribution to our financial health.you have a great positive effect on the collective Canadian balance sheet.as long as you choose to continue this blog,I will read it faithfully.

Robert Turpin

#32 Daisy Mae on 08.27.15 at 7:46 pm

#13: “I know many males who are bad with finances, over spend and are into expensive toys that only depreciate. I was married to one….”

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

Yes. It works both ways.

#33 Joeyjojo on 08.27.15 at 7:47 pm

Loaded up on Puts today, sucker rally. Stick a fork in the bull market.

#34 Pappy-D on 08.27.15 at 7:52 pm

“They came from the usual rabble – people who hate America and want it crushed.”
This is the line that did it for me. Long time reader, first time poster.
I believe the American Government to be the biggest evil in the world today. The vast number of people trying to escape the holocaust the US has unleashed on the middle east is one SMALL example. I have nothing against Americans, but I DO want to see their Government crushed.
Pappy-D

#35 Kuato Lives on 08.27.15 at 7:55 pm

Oil’s rally wasn’t so much the revised US GDP numbers (that was the spark) but shorts running for cover. Several times in the last year you see these 8-10% runs when contracts expire and short sellers get left exposed. Oil will, in all likelihood, resume its descent into deeper lows until supply begins to be knocked offline semi-permanently (ie shareholders being wiped out). Of course, that doesn’t preclude new capital from being raised and those frack wells starting up again ….

#36 Andrew Woburn on 08.27.15 at 8:02 pm

#17, The New Blue is Orange on 08.27.15 at 7:20 pm
I miss F. I appreciated his debt sermons. He was making great news this week:
===================

Yeah, at least he recognized when he had screwed up and reversed engines. Can you imagine how much more of a mess we’d be in today without his common sense?

I may have to hold my nose to vote for Harper but I won’t forget how many kids he has dropped in a pit of debt to support his own ambitions.

#37 Bane Capitol on 08.27.15 at 8:05 pm

I made a large amount and called for a 1000 point fall. This is far from over. Round 11 in a 15 round fight. Up next September 17th QE4 or blow the markets to hell with a rate raise. Garth you should study all 3 sides of the coin. The truth is in the middle. Love your Canadian real estate analysis though!!

#38 slick on 08.27.15 at 8:06 pm

CP #14
pick and choose your cdn stocks, and you’ll be fine.
Buying US stocks with the Cdn $$ this low is tough.
MFC, TD, MG, MRE, or XSP have much of their income from foreign sources, ergo converted back to Cdn peso is a good thing.
Managed to get a stink bid in on Monday, and bought XSP at $20.55. To busy with this workin’ thing.
slick

#39 Freddie on 08.27.15 at 8:09 pm

Re #5 I’m not gonna lie, it was painful to lose $10,000 in two days.

If you did not sell, you did not loose a dime. Also, even if you did sell, unless you bought three days ago, you probably did not lose either. The same goes the other way around. Unless you sell, you do not make a dime. That the problem, people count paper gains as if it is real. That is why, just because the guy down the street sold his house for way more than they paid for theirs, they think they are rich (and banks are more than glad to let them pile on debt to “free” the unrealized gain.)

Stop watching markets like it the box score from last night’s ballgames. Buy and sell on fundamentals. That is why Garth has been telling us to avoid buying real-estate. The Fundamentals suck!

#40 IHCTD9 on 08.27.15 at 8:09 pm

I have no idea what has happened with my portfolio this week.

Women are great.

I was also DELETED yesterday.

That is all.

#41 anotherstabbinginsaskatoon on 08.27.15 at 8:12 pm

Austria. History will repeat itself. It always does.

#42 Randy Randerson on 08.27.15 at 8:14 pm

Amy Winehouse’s Back to Black

https://www.youtube.com/watch?v=TJAfLE39ZZ8

For those who held rock steady over the last few days, and see their portfolios back to black, enjoy.

#43 Oscar on 08.27.15 at 8:15 pm

Garth says – “We’ve just had the best two-day rally since way back in 2009.”

Thank God for the Plunge Protection Team. They’ll keep the ball in the air until they can’t. Then watch out below!!

They cheer when it falls. They cry conspiracy when it rises. The anthem of losers. — Garth

#44 Steve French on 08.27.15 at 8:17 pm

*** DELETED ****

Damn… I have joined the ignominious ranks of the DELETED…

You wish. — Garth

#45 Andrew Woburn on 08.27.15 at 8:18 pm

Has globalization run its course?

“Trade volumes surged in response to economic expansion in the period up to the crash, in part because of the removal of trade barriers in the 1990s. More importantly, massive foreign direct investment in China and the offshoring of U.S. manufacturing to Asia created a supply chain network that enabled capital and raw materials to flow into Asia while convoys of containers delivered goods to Europe and America.

We now seem to have moved over a trade hump. According to the IMF paper, Chinese supply chains are maturing with a lower share of imported components in total exports. Chinese factories in the interior are making more of the bits that go into assembly plants on the coast. Efforts to reshape the economy towards one more reliant on internal Chinese consumer demand may also be having an effect. In the U.S., manufacturing imports surged during the 1990s as a percentage of GDP; American firms rushed to take advantage of low Asian wages. But the volume growth has stabilized since the turn of the century, suggesting that the trend has run its course.

It doesn’t mean that globalization is reversing but the impetus may change – the more widespread use of robotics, 3-D printing of components and the need for shorter supply chains may also curb the expansion of cross-border trade.”
————————————–
You also have to wonder how long G7 countries can tolerate the economic pain of trading with a country that builds hopelessly uneconomic make-work projects in order to preserve party rule rather than invest in actual wealth creation. There cannot be beneficial international competition when one party gives its products away.

http://www.theglobeandmail.com/report-on-business/economy/economic-insight/has-globalization-run-its-course/article26126500/

#46 Steve French on 08.27.15 at 8:20 pm

Let the USA EEEEEAAAAGGGLLLEEE SOOOOAAAAAR

https://www.youtube.com/watch?v=woLQI8X2R6Y

bang bang bang!!!

(eagles drop out of the air due to gunfire…)

#47 tundra pete on 08.27.15 at 8:21 pm

Old gutted US factories that used to make the staples of the world before they were shipped off to China or wherever was cheaper, are the new powerhouses. Tech. palaces now run by hipsters with tablets, creating high tech gadgets that are making China squirm.

Not only is the cost of energy in the US a huge advantage, but so are the just in time modern transport networks as well as the current high technology being used to extract that low cost energy. The Chinese will soon be leaving their junk no one wants on the mainland.

There are some substantial projects upcoming that will heat that US market up even more in the coming months. The economy won’t fail, derivatives won’t explode and they will keep on making their own money. Only an a$$hole would bet against the US.

#48 For those about to flop... on 08.27.15 at 8:21 pm

I’ll tell ha what I did this week regarding the market crash and recovery….absolutely friggin nuthin.
Coulda bought on the low ,didn’t know what to do so I stayed out of it.
Coulda crystallized a loss ,I knew what to do so I stayed out of it.
I think I’m getting the hang of it.

#49 Smoking Man on 08.27.15 at 8:23 pm

A foolish comment. The Fed did not cause nor remediate the market correction. — Garth
……
How do you know, they’ve never been audited..

They can create loot out of thin air if what I read on the Internet is true.

It’s not out of the relem of posablities that they have an army of zombie midgets in the basement buying when things tank, lots of old bastards relay on pensions in the markets..

Plunge protection team..

#50 BC Guy on 08.27.15 at 8:23 pm

Saudi Arabia is running a huge budget deficit and may have to borrow money from foreign lenders. This has huge implications.

Saudi Arabia is not as rich as you think. With the low oil price, they’ve been suffering almost as much as Alberta. So …. how long before the Saudis throw in the towel and agree to production cuts to boost the price of oil?

It’s just a matter of time before the price of oil heads much higher. Today’s 10% jump may be in anticipation of the Saudis and OPEC agreeing to production cuts:

http://money.cnn.com/2015/08/06/news/economy/saudi-arabia-oil-deficit/

#51 anotherstabbinginsaskatoon on 08.27.15 at 8:24 pm

Do these modern day alchemists who are paraded before the ignorant as economists know what they are experimenting with? What will happen when Frankensteins’ Monster is finally unleashed? We will soon find out. Invasions are never bloodless. Never.

#52 Tiger1960 on 08.27.15 at 8:26 pm

Vancouver beaches stink,and are poulited ,and the beaches are brown!
The Fraser river sewage out flowes ! and Victoria the capital of British Coulmbia just dumps its raw sewage into the ocean!
The best place on earth!

#53 Llewelyn on 08.27.15 at 8:27 pm

Not surprised that pom-pom’s are waving after the 2nd quarter GDP figures for the US were released. No doubt that the results were positive news but if you take time to look at the data related to this growth it is difficult to imagine that the 3rd and 4th quarters will support net GDP growth of 3.7% for all of 2015.

In stark contrast to all the huffing and puffing about how the United States has become the paragon of economic expansion it might be wise the review the detailed forecast prepared by the Congressional Budget Office (CBO) in the United States. Here is just a small snippet:

“The high and rising amounts of federal debt held by the public that CBO projects for the coming decades under the extended baseline would have significant negative consequences for the economy in the long term and would impose significant constraints on future budget policy. In particular, the projected amounts of debt would reduce the total amounts of national saving and income in the long term; increase the government’s interest payments, thereby putting more pressure on the rest of the budget; limit lawmakers’ flexibility to respond to unforeseen events; and increase the likelihood of a fiscal crisis.”

Federal government debt in the United States exceeds 100% of annual GDP and the CBO is projecting that the annual Federal government debt will increase by more than 3.0% per year. Expressed in simple terms the United States is digging themselves into a deeper and deeper hole each year and is running out of ways to resolve this dilemma.

I care about this because Canada has become dependent on the United States and if debt hamstrings the North American economy as the CBO fears the consequences for Canada will not be pretty.

We should never confuse the health of private companies reaping benefits from public debt with the health of a government where annual deficits will continue to exceed 100% of GDP growth in the foreseeable future.

Feel free to call me any one of the negative terms attached to people who remain concerned with the impact of debt on the global economy. I have lived long enough and have read enough history to know that the capacity to borrow or create money out of thin air will come to an end sooner than many so called experts are predicting. No amount of cheerleading about economic growth will change that reality.

#54 Estrella on 08.27.15 at 8:27 pm

Jealousy is the fear of comparison.(Max Frisch)

#55 anotherstabbinginsaskatoon on 08.27.15 at 8:27 pm

The Jarl by Albion. My retirement plan.

#56 MSM-Free Zone on 08.27.15 at 8:29 pm

To sum up, then, America:
…..blew its brains out under the ____________ Party, then,
recovered quite remarkably under the _____________ Party.

Back here at home, it seems we’re watching the same re-run movie unfold here in Canada. I now know whom I’m voting for in the fall.

#57 Vancity D-Man on 08.27.15 at 8:30 pm

Hi Garth, I believe you should exercise your delete button a little more frequently. It’s your blog after all. Keep the idiots from spewing their moronic crap here. And to the idiot who called you a ‘B’, i say to that fellow, “you’re a Moron”.

Here’s a free vocabulary lesson to the Moron:

“advice” – noun – an opinion or recommendation offered as a guide to action, conduct.

“advise” – verb (used with object), advised, advising – to give counsel to; offer an opinion or suggestion as worth following.

Sheesh….

#58 Confused millenial on 08.27.15 at 8:35 pm

http://www.bloomberg.com/news/articles/2015-08-27/china-said-to-sell-treasuries-as-dollars-needed-for-yuan-support

China has cut its holdings of U.S. Treasuries this month to raise dollars needed to support the yuan in the wake of a shock devaluation two weeks ago, according to people familiar with the matter.
Channels for such transactions include China selling directly, as well as through agents in Belgium and Switzerland, said one of the people, who declined to be identified as the information isn’t public. China has communicated with U.S. authorities about the sales, said another person. They didn’t reveal the size of the disposals.
The People’s Bank of China has been offloading dollars and buying yuan to support the exchange rate, a policy that’s contributed to a $315 billion drop in its foreign-exchange reserves over the last 12 months. The $3.65 trillion stockpile will fall by some $40 billion a month in the remainder of 2015 because of the intervention, according to the median estimate in a Bloomberg survey.

#59 Tiger1960 on 08.27.15 at 8:37 pm

It’s my birthday, and I’ll cry if I want to!
Missed the bottom !how much money do I really need, like I’m a tiger I will always adapt,waiting and then kill

#60 Steve French on 08.27.15 at 8:45 pm

Hey Amerikuh:

You guys are generally alright and welcome to visit our country anytime.

We all know that you love your free dumbs, but just KEEP YOUR GUNS AT HOME.

Keep Canada out of your insanity. We want no part of your war on each other.

——————-

“More Americans have died from guns in the United States since 1968 than on battlefields of all the wars in American history.”

http://www.nytimes.com/2015/08/27/opinion/lessons-from-the-murders-of-tv-journalists-in-the-virginia-shooting.html?_r=0

USA mass shootings blowing away previous annual records, and 2015 is only 2/3rds finished.

http://www.economist.com/blogs/graphicdetail/2015/08/graphics-americas-guns?fsrc=scn/tw/te/bl/ed/AmericasGuns

#61 Mr Happy on 08.27.15 at 8:48 pm

For the first time ever, I listened and when the markets tanked…..I started buying. XSP XIU and a few others…

Now that makes me Mr Happy! :)

#62 Freedom First on 08.27.15 at 8:51 pm

Yes, picked up 4 tasty ETF’s during the drop. I wrote about them here the last few days. Said I was overweight cash, and why, last fall on this Blog. Part of my re-balancing, bought CPD, ZPR, ZRE, and ZEO. Only underweight in one area right now, but watching it closely. Then I will be very close to Garth’s advised weightings in all the asset classes.

Did appreciate the relationship advice everyone gave the last few days. Very interesting, though I never struggle with my relationships with women, as I always love myself enough for the both of us. It’s easy to do too, as no one has ever treated me as well as I treat myself. Not even close. Freedom-priceless.

#63 Joe on 08.27.15 at 8:58 pm

RE 54 Days to an NDP Govt
He won’t vote for the NDP because he’s too right wing and doesn’t read the NY Times:
The Closing of the Canadian Mind

http://www.nytimes.com/2015/08/16/opinion/sunday/the-closing-of-the-canadian-mind.html?_r=0

Harper is relying on those too lazy or ignorant to understand how he has messed up the economy, betting the farm on big oil at the expense of diversifying the economy, set back scientific research in Canada, rammed through big omnibus bills with no debate…

#64 Tiger1960 on 08.27.15 at 9:01 pm

Driving through Vancouver so many pot stores!
Could this be y so many people are stoned in van!
Wow zomby land, grow a beard y your easier to take down just grab that shit and throw it to the ground,wash your hands after, repeat!

#65 No Debt on 08.27.15 at 9:04 pm

Whose Thanksgiving Garth?

#66 Booya on 08.27.15 at 9:08 pm

Garth et. al:

What’s the deal with N.A. Preferred shares? Been on a downward trajectory, is it a great time to buy more? Is it just the effect of the soon to be increasing interest rate environment?

#67 Tiger1960 on 08.27.15 at 9:11 pm

Hey I haven’t read a smoking mans post for a long time, a very nice mind cleansing , he is a looser!!!!!!

#68 bb on 08.27.15 at 9:19 pm

Garth should post a compilation of DELETED comments for us to read.

#69 not 1st on 08.27.15 at 9:21 pm

#28 BobC on 08.27.15 at 7:36 pm

Americans don’t like socialism.

—–

You mean like the govt bailing out the entire banking sector in 2008 and implementing QE to the tune of 3 trillion dollars. Yeah down with socialism.

#70 Ret on 08.27.15 at 9:22 pm

Time to buy USD? Looks like we know who the winners will be in the global economy. I don’t see Canada on that list.

#71 Lea on 08.27.15 at 9:25 pm

#9 not 1st

Obama is in the White House, Donald Trump is not. The election is still over a year away, a lot can happen in a year.

#72 Tiger1960 on 08.27.15 at 9:30 pm

When I drive through Vancouver ,I wonder what is wrong with these drivers and the people !
Pot stores every where !
They are zombies! Wtf

#73 Jommy on 08.27.15 at 9:31 pm

DELETED (sexual)

#74 Keeping the Faith on 08.27.15 at 9:33 pm

Harper is a loser … a ‘modest deficit, tiny deficit’ is like listening to a heroin addict make fun of the drunk driver.

#75 Trojan House on 08.27.15 at 9:37 pm

#10 54 Days to an NDP Government! on 08.27.15 at 6:54 pm

“Real change for the better is on the way”

Pardon my insult, but you are an idiot.

#76 Republic_of_Western_Canada on 08.27.15 at 9:42 pm

The market briefly spiked (a.k.a. ‘dead cat bounce’) for two main reasons. First, on the technical rebound in the chinese stock market which was under massive selling pressure for weeks. Second, on an oil speculator’s price blip on broadcast news that Venezuela had asked OPEC [again] for an emergency session to review pricing.

Not on any real or imaginary economic progress in the U.S.
.
http://wolfstreet.com/2015/08/25/americans-economic-outlook-plunges-since-july-2014-gallup/

#77 MSM-Free Zone on 08.27.15 at 9:42 pm

#67 Tiger1960 on 08.27.15 at 9:11 pm
Hey I haven’t read a smoking mans post for a long time, a very nice mind cleansing , he is a looser!!!!!!
________________________

‘Looser’? Is that all you got?

Better check your magazine. You’re shooting blanks.

#78 Republic_of_Western_Canada on 08.27.15 at 9:46 pm

#50 BC Guy on 08.27.15 at 8:23 pm

Saudi Arabia is running a huge budget deficit and may have to borrow money from foreign lenders. This has huge implications.

Saudi Arabia is not as rich as you think. With the low oil price, they’ve been suffering almost as much as Alberta. So …. how long before the Saudis throw in the towel and agree to production cuts to boost the price of oil?

It’s just a matter of time before the price of oil heads much higher. Today’s 10% jump may be in anticipation of the Saudis and OPEC agreeing to production cuts:

Surely it’s partly due to traders’ anticipation. But cut’s aren’t gonna happen for a while though.
http://wolfstreet.com/2015/08/26/why-saudi-arabia-wont-cut-oil-production/

#79 bcc0938 on 08.27.15 at 9:48 pm

Here’s a profiling of those posters: male; 30-ish; single; earning below 30k; living in basement; spend 10 hrs online daily (22.5 hrs if day off); subscribe to highest speed internet; don’t subscribe to cable; monthly spend on entertainment $0 (get all movies by downloading); main source of news: rt.com.

#80 Dr. Talc on 08.27.15 at 9:56 pm

’54 Days to an NDP Government’

Any notion that Mulcair is a viable alternative to you know who is nonsense .
He is false opposition, just like Jr. If they were really opposed to Harpo they would call him out on fake terror.
So they tell Mulclair that if he repeals c51 all blame for the fake terror they are planning is on him ,,, ha ha ha
911 anniversary is coming up, watch all three salute the false flag together ha ha ha

on election day I’ll be soaking my sweaters in woolite

#81 Marco on 08.27.15 at 9:56 pm

@Sheane Wallace

“It is actually the Chinese economy that is the engine fo the world. 8 + % growth in 30 years,”

But,

The American Consumer market is 29% of the world market.

Cheers.

#82 Smoking Man on 08.27.15 at 10:04 pm

#67 Tiger1960 on 08.27.15 at 9:11 pm
Hey I haven’t read a smoking mans post for a long time, a very nice mind cleansing , he is a looser!!!!!!
……

Losser.

Ha, that’s the best word you can find to vent your inadequate spirt and lack of tolarance for greatness.

Use Google Man… You can really expand your vocabulary.

#83 Vanecdotal on 08.27.15 at 10:08 pm

#68 bb

+ 1 that. Intriguing.

#69 not 1st

Also +1. I would add, the 45.7 million US citizens on food stamps probably like their ‘Merican Style socialism too.

#84 IHCTD9 on 08.27.15 at 10:09 pm

#73 Jommy on 08.27.15 at 9:31 pm
DELETED (sexual)
———————-

Welcome to the club.

#85 Retired Boomer - WI on 08.27.15 at 10:15 pm

#22 Sheane Wallace

RE: Gold

Yes, will always have “value”. Quite true, yet will never pay dividends, split 2 for 1.

It’s ‘value’ is somewhat inverse to everything else. Silver the same way, but far more useful in mfg applications.

When peoples faith in government falter precious metals soar. When my faith in government falters I want food, shelter, warmth, ammunition, and fuel. (Silver maybe)…

Until then… I’ll just be one of those dumb fools investing in the traditional stuff. It converts so easily to fiat money!

#86 Vanecdotal on 08.27.15 at 10:17 pm

Fascinating/frightening/highly amusing that The Donald is actually a contender for the Republican nomination. Can you imagine a Clinton/Trump 2-way race? Idiocracy meets Running Man? Society *does* collapse in the 2017 (per RM)…. only a year off. Just sayin’.

#87 kommykim on 08.27.15 at 10:17 pm

RE: #62 Freedom First on 08.27.15 at 8:51 pm
I always love myself enough for the both of us.

I believe you!

#88 Backstep on 08.27.15 at 10:25 pm

‘Ribald’ doesn’t mean what you think it means.

Actually it does. — Garth

#89 Senta on 08.27.15 at 10:26 pm

Ain’t over till the fat lady sings. This may be a dead cat bounce. Sept and October are still ahead we will test the lows.

Quite possible, but no crisis. — Garth

#90 Retired Boomer - WI on 08.27.15 at 10:27 pm

Several commenters tonight suggest President Obama is a “liberal.”

Looking at his record I see DAM LITTLE that I would ascribe as “liberal.”

He followed Bush’s play-book already underway with Bank Bailouts, and lack of prosecuting zeal for any fraud. Not much help to defrauded mortgage holders.

His talk might be “liberal” but his actions smell conservative to my olfactory senses.

FOX News hates him, but they couldn’t find their butts with both hands… (just my opinion on that).

The IRAN deal 1st ‘liberal’ thing I can recall.

#91 David W2 on 08.27.15 at 10:29 pm

If a market is swinging up and down this much means ppl are tens, this ain’t over yet

#92 Leo Trollstoy on 08.27.15 at 10:30 pm

#69 not 1st on 08.27.15 at 9:21 pm

Socialism for big corps and the 1%

Everyone else can fend for themselves.

#93 BobC on 08.27.15 at 10:31 pm

#69 not 1st
I didn’t say our government doesn’t like socialism. I said American people don’t. Please don’t think our present government represents the people.

#94 Leo Trollstoy on 08.27.15 at 10:32 pm

#62 Freedom First on 08.27.15 at 8:51 pm

Love your posts.

Just wanted to let you know.

#95 Chris in Nanaimo on 08.27.15 at 10:39 pm

#13: “I know many males who are bad with finances, over spend and are into expensive toys that only depreciate. I was married to one….”

————————-

I think the ladies are missing the point being made by some of these emasculated guys.

Sure both sexes are crap when it comes to finance….but it sure seems like it’s primarily the female of the species pushing to move to larger homes attaining granite and steel along the way.

I don’t have a TV but the few times I’ve seen HGTV it’s pretty much always the woman in the driving seat in these ‘flip it/reno/lets buy a bung’ shows.

I dunno….I just can’t see a bunch of guys sitting around on a Friday night willingly watching HGTV…..;-)

#96 alex k on 08.27.15 at 10:48 pm

#24/#25 you’re lucky stupidity doesn’t get erased here

#97 kommykim on 08.27.15 at 10:52 pm

RE: #93 BobC on 08.27.15 at 10:31 pm
I didn’t say our government doesn’t like socialism. I said American people don’t.

Socialism is when the government spends money on something you disagree with. Otherwise it is just democracy.

#98 Waterloo Resident on 08.27.15 at 11:00 pm

So the crashing stock market made the NUT-BARS come out of the woodwork eh? Figures.
Just imagine how nuts life would get the economy actually did crash, like Greece’s mess? Wow, there would be ‘Tin-Foil hat’ types everywhere.

For people who talk about buying Gold; take a look at this 3 year chart of that stuff;

http://stockcharts.com/h-sc/ui?s=$GOLD&p=D&yr=3&mn=0&dy=0&id=p10926741966

As you can see, it isn’t going anywhere but down right now, that’s the overall trend.

Yeah, yesterday’s comments about women / wives were on the cruel side, sorry about that. But hey, us men are like that, we are cave men deep inside.

Here are some jokes that you ladies might like:

Q: What do you call a man who has lost 90% of his intelligence?
A: Divorced.

Q: Have you heard of then new divorced Barbie doll?
A: She comes will all of Ken’s stuff.

Q: Why are hurricanes usually named after women?
A: Because when they arrive they’re wet and wild, but when they go, they take your house and car.

Q: What should you do when you see your ex-husband rolling around in pain on the ground?
A: Shoot him again.

Just think, if it weren’t for marriage, men would go through life thinking they had no faults at all.

#99 Smoking Man on 08.27.15 at 11:11 pm

#94 Leo Trollstoy on 08.27.15 at 10:32 pm
#62 Freedom First on 08.27.15 at 8:51 pm

Love your posts.

Just wanted to let you know.

I second that..

#100 MF on 08.27.15 at 11:13 pm

#94 Leo Trollstoy on 08.27.15 at 10:32 pm
#62 Freedom First on 08.27.15 at 8:51 pm

“Love your posts.

Just wanted to let you know.”

Agreed.

#34 Pappy-D on 08.27.15 at 7:52 pm

Lol Garth is right about the rabble. The Mideast is in a crisis of it’s own doing. After the second world war, in general, the Europeans and Asians learned how trivial war is. Hopefully the mid east will one day do the same.

Funny you didn’t mention Russia (the great bastion of freedom)’s meddling in the area though.

#79 bcc0938 on 08.27.15 at 9:48 pm

Love it. I got nervous after the male 30ish part but thankfully I don’t match on the rest lol.

I think there are more of: male, mid 30’s-mid 40’s who missed out on the latest housing run and is really upset about it though.

#89 Senta on 08.27.15 at 10:26 pm

I hope not. I know fluctuations and flash crashes are normal but man I’m really in the red since beginning my short investment life in April (crappy time to start but what can you do?)

MF

MF

#101 JacqueShellacque on 08.27.15 at 11:14 pm

Wealth acquisition is contrarian. If you want to build wealth, avoid what the non-wealthy (ie, indebted house “owners” and wage slaves) do. That is, 1) live within your means and save at least 10% of your gross income, 2) get some understanding of investments and investment types, 3) understand market history, bubbles, and corrections, and 4) consider how poorly homo sapiens is at making rational decisions when it comes to money.

#102 garry on 08.27.15 at 11:15 pm

gartho ever heard of dead cat bounce that’s this is markets are still down and will collapse

#103 Smoking Man on 08.27.15 at 11:16 pm

#95 Chris in Nanaimo on 08.27.15 at 10:39 pm
#13: “I know many males who are bad with finances, over spend and are into expensive toys that only depreciate. I was married to one….”

————————-

I think the ladies are missing the point being made by some of these emasculated guys.

Sure both sexes are crap when it comes to finance….but it sure seems like it’s primarily the female of the species pushing to move to larger homes attaining granite and steel along the way.

I don’t have a TV but the few times I’ve seen HGTV it’s pretty much always the woman in the driving seat in these ‘flip it/reno/lets buy a bung’ shows.

I dunno….I just can’t see a bunch of guys sitting around on a Friday night willingly watching HGTV…..;-)
…….

Very smart, I know you were tempted to use the word, feminized, rather than emasculated…

Feminized, would bring out the Nazis.

Good move.. Good instinct, I did it once, it was ugly.

#104 drydock on 08.27.15 at 11:16 pm

Loose instead of lose.
Looser instead of loser.
Dam instead of damn.
And now advise instead of advice.
What’s to become of the world?

#105 Doug in London on 08.27.15 at 11:21 pm

I’ve been reading a lot about a big drop in stock markets recently. What drop? Values are right back to where they were before I went on a road trip 2 weeks ago. The “big drop” must have occurred while I blinked.

#106 Sir Kongalot on 08.27.15 at 11:25 pm

Garth,

No need for all the chest thumping and self-congratulatory back slapping over a couple of days extreme moves on the markets….who knows what is gonna happen in the next few days/weeks/months…

Expect more volatility. But no crash. — Garth

#107 Randy Randerson on 08.27.15 at 11:26 pm

#95 Chris in Nanaimo on 08.27.15 at 10:39 pm

I share the same feeling. Whenever I see a woman pushing to get a bigger house, I see it as the woman’s nesting instinct kicking into overdrive, finance be damned.

#108 debtified on 08.27.15 at 11:28 pm

Garth, please forgive me for today I bought January $50 Puts for HOG.

To atone for my sins, I promise to buy a Night Rod Special with my proceeds.

#109 Rich Young on 08.27.15 at 11:29 pm

Business Confidence in Alberta … in the pooper

YET they keep on building more mall space and other commercial space all over the city. Cheap money distorts all sense.

Market rally? Or, dead cat bounce? We will find out in the next 6 weeks I guess when we look again and see if the market is higher or lower. This market makes little sense day to day imo.

Good luck all buying a home now in Alberta. See where prices are this winter. Long cold winter it will be for many unemployed in this province.

#110 Sir Kongalot on 08.27.15 at 11:30 pm

#61 Mr Happy on 08.27.15 at 8:48 pm
For the first time ever, I listened and when the markets tanked…..I started buying. XSP XIU and a few others…

Now that makes me Mr Happy! :)
.#62 Freedom First on 08.27.15 at 8:51 pm
Yes, picked up 4 tasty ETF’s during the drop. I wrote about them here the last few days. Said I was overweight cash, and why, last fall on this Blog. Part of my re-balancing, bought CPD, ZPR, ZRE, and ZEO….”

Also why so many people gloating over a few days movements on the markets…this could be a deadcat bounce…the game is won/lost in the long term…

#111 Smoking Man on 08.27.15 at 11:35 pm

#98 drydock on 08.27.15 at 11:16 pm
Loose instead of lose.
Looser instead of loser.
Dam instead of damn.
And now advise instead of advice.
What’s to become of the world?
…..

Substance abuse is what I’m thinking

#112 JM on 08.27.15 at 11:41 pm

It’s funny the US economy and recovery are so strong, they’ll have come to the plate for the 3rd time this year in September and NOT be able to raise the lousy interest rate 0.25% off a level of 0%.
The system is so fragile, they can’t even do that.
Always an excuse… sad.
I think there is now a strong chance rates won’t move this year but no fears, the US economy is doing great, it’s always somebody else’s fault they can’t raise their interest rate.

#113 Nosty, etc. on 08.28.15 at 12:08 am

“This is no surprise with an average of 211,000 new jobs appearing in the US every month. For now.

SMan, swl etc. Putin about to reveal more of 9-11? The Fox News account of 9-11 (since removed by Fox), and Why does ISIS never attack Israel? SWL1976 — Manufactured Fear You are correct; Russia’s new jet debuts; Why does the US have 800 military bases thruout the world?

#114 Capt. Obvious on 08.28.15 at 12:08 am

My favourite part of the steerage section of this blog is that people who definitely do not have PhDs in economics are sure they have the economy of the world figured out. Good luck with that.

#115 Rexx Rock on 08.28.15 at 12:11 am

When stocks tank ,you buy because the plunger team will come in and prop it up.In these volitile markets day trading and swing trading is the only way to go. Buy and hope is so dead.Buying and selling houses in a hot real estate market is less stressfull so you choose your poison to make good money.

#116 Another Albertan on 08.28.15 at 12:12 am

I’d be cautious about getting bullish on crude because of today’s gains. Shell declared force majeure in Nigeria on Bonny Light crude exports, due to a pipeline leak and theft. Crude was already rallying due to short covering and this gave it some extra momentum. Put that 180,000 barrels back online and who knows what happens?

While this may look like to some the start of a bounce-back, the actions of the owner-operators here in Calgary are to the contrary. The Canadian arm of a US “independent” axed 10 of their project procurement team last week. No big deal, right? Today, 60 more of the procurement and project team were let go. If a company toasts the bulk of the supply chain management team, it means they aren’t intending on buying anything.

Notionally, this means that the board sanction for their next project (budgeted at 1.35 to 1.8 billion, on a scaled-back basis to one-third of original intent) is not likely to occur as expected in the fall. They might slow-walk the design work, but they clearly are not going to be negotiating large material contracts.

I said last week there are significant employment cuts queued up here in Calgary. Based on the rumours and confirmed news we’ve seen in the office this week, I’d go so far as to say that summer vacation is considered over and companies are no longer in a position to keep kicking the “decision can” down the road. It’s back to business, in whatever brusque manner that might happen to be.

Everyone else’s mileage may vary.

#117 Cici on 08.28.15 at 12:17 am

#8 Frank

Well, if in power wouldn’t Trump just pump real estate, putting the American economy in jeopardy again, just like his predecessors?

As I recall, before he got famous for insulting Latin Americans, Heidi Klum and other pretty blondes, and making stupid comments in general, he made a name for himself flogging high-end real estate and building luxury towers. The American cousin of our own Brad J. Lamb.

If he gets in, my bet for the US will be low interest rates, low-paying jobs, overpriced houses, mass housing speculation, and eventually, another major crash.

Where there’s (a) bull, there’s a way!

#118 Sir Kongalot on 08.28.15 at 12:20 am

Garth

Any comments on how the coming asteroid strike in a few weeks will affect the Hogtown real estate market, and also could it affect Fed view on interest rates….

http://www.mirror.co.uk/news/world-news/asteroid-to-destroy-earth-four-6333782

#119 Tiger1960 on 08.28.15 at 12:30 am

82smoking goof look it up ,Google looser!
It’s all there for ya ,while your there look up goof as well!
And as well look up jelious, are you 1 of the 3 or are u just not educated! I think your just all of the above including number 4 ,looser

#120 Basil Fawlty on 08.28.15 at 12:31 am

What will the consensus be around here if the Fed does not raise rates and initiates QE4?
How can the US be doing so well with commodities falling, the labour participation rate falling and corporations buying and retiring their own shares, to push up earnings? Not only that, one needs a degree to get a job at Rotten Ronnies. The strong US economy remains a mirage, which is why they have warned of interest rate hikes for four year, yet done nothing.

#121 Hhhhhhkk on 08.28.15 at 12:41 am

Yet the Fed can’t move. And the reason is more that China. Q3 GDP 2014 – 5% now 2.5? Slowing. I think they know a little bit more that people blowing smoke. That is why no rate rise.

#122 Ontario's Left Coast on 08.28.15 at 12:45 am

#62 Freedom First

“I love myself enough for the both of us…”

Creepy, and speaks volumes about the sad, overcompensating soul who says the exact same thing every night. You must be very happy with your steady girlfriend Palmela Handerson.

#123 Freedom First on 08.28.15 at 12:48 am

#94 Leo Trollstoy

Thanks. I must say, I enjoy your jousting with a certain poster on here who loses every round to you and keeps coming back for more. Takes a little pressure off Garth too. You and Garth have the patience of Job.

#124 Freedom First on 08.28.15 at 12:58 am

#87 kommykim

Yes. I am an honest man. I don’t go on blind dates though. A woman has to approach me face to face. Don’t want anyone to ever think that I care if I meet them or not, as I really don’t. I am a kind man though. Never told anyone to just pick a number.

#125 CP on 08.28.15 at 1:08 am

Simple question on my mind. I’ll try not to be too specific. Limit order, VCN, 26.04, good till October 8th. Will I get it?

#126 waiting on the westcoast on 08.28.15 at 1:09 am

The US economy is solid on the ground… most of the stats are pointing to growth and I am seeing a lot of energy/enthusiasm in moving forward. The US “stock” economy is the only aspect that is waiting on baited breath about the 0.25% hike in interest rates. I believe that the FED will not look to the markets as much as the general economy in the US.

As Canadians, we need to find a way to increase our productivity by investing in tech, systems and higher expectations. Rather than pandering to those people/corps that wish to get a free ride on our dollar, we need to think about better ways to compete globally.

#127 nonplused on 08.28.15 at 1:13 am

Well the problem in the US, Garth, is that adding 200k jobs a month is about what they need to do to employ the local population. But with all the legal and illegal immigration the need 400k/month job growth. So even thought he US economy is expanding, for 200k people plus their dependants every month it is becoming extremely dire. Hence Trump. But I don’t really think he can fix it either he’s just good in front of a camera.

So send them all home as Trump is proposing? Well, how? But if you could, do they get a better deal there? No or they wouldn’t have come to the US (or Canada). What we are seeing is a new form of globalisation, where wages are the same wherever you go or people migrate.

What this is going to mean long term is that if you work at McDonald’s you will get paid the same in Puerto Rico as you do in LA. And it won’t be much because where the minimum wage is $15/hour they will replace almost everyone with computers. Already McDonald’s, Wendy’s etc. is experimenting with kiosks. Restaurants are using iPads to deliver the menu and take the order. Sure, they still need cooks, but for how long?

There is a definite division taking place. Those who build and run the machines are doing just fine. Everyone else is on waivers.

#128 Nagraj on 08.28.15 at 1:14 am

Yo! STEERAGE BILGE buddy!
About the names of Mrs.Harper’s two cute little vampire pet bats, “9” and “16”. You remember the Pythagorean Theorem, don’t ya? Sure you do.
Well, 3×3=9, 4×4=16, and so the hypotenuse is 5, eh? SO her third little bat will be named “25”.

Canadians looking for things UNIQUELY CANADIAN should be thrilled with the fact that Canada’s First Lady is the ONLY First Lady in the world who has pet vampire bats.
(And she’s a math symbolist too!) (In a whisper: You don’t suppose she’s a Wiccan?)
This is really most interesting.

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

I was also quite taken with the SASKATOONSTABBER bringing up the Habsburg Empire, one of my favourite topics.
If you took a train from Vienna to Trieste in 1900 how many different jurisdictions would you be travelling through, and what are their names?
From Trieste it’s a short boat ride to Otronto. When you’re in Otronto and an Otrontonian asks you where you’re from, say “Toronto.”

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

Finally, when GT hisself keeps punchin’ the KILL button like some madman, you just know this blog is gittin really scary.

(Come to think of it, Janet Yellen actually looks like a small witch.) (Maybe she likes bouncin’ dead cats.)

#129 Freedom First on 08.28.15 at 1:14 am

#110 Sir Kongalot

It’s okay. My horizon for everything I buy is 40 years. One of the gifts of liquidity balance diversity and Freedom First living over decades.

#130 oily on 08.28.15 at 1:19 am

Bounce for oil watch it bounce again when the Iran deal doesn’t pass in the Senate. ..Boom chugaluga 60 by yr end

#131 Shawn on 08.28.15 at 6:30 am

Reasons…

There’s a reason wealthy people stay that way. And why others get DELETED.

*****************************
I call this pattern, Winners Win and Losers Lose.

It works, not always, but on average.

Habitual patterns of behavior and thought, such as self reliance versus the blame and conspiracy outlook, habitually lead to success or failure.

#132 OttawaMike on 08.28.15 at 6:39 am

#97 kommykim on 08.27.15 at 10:52 pm

Socialism is when the government spends money on something you disagree with. Otherwise it is just democracy.
———————————

Bingo! Nailed it with that one, you “commie rat bastard”.

#133 OttawaMike on 08.28.15 at 7:22 am

#118 Sir Kongalot on 08.28.15 at 12:20 am

Any comments on how the coming asteroid strike in a few weeks will affect the Hogtown real estate market, and also could it affect Fed view on interest rates….

————————————-

The astroid will leave a vast deposit of nickel and titanium in the 416 and real estate values will instantly quadruple. Nothing can stop the relentless rise in prices there.

#134 Julia on 08.28.15 at 8:00 am

#95 Chris in Nanaimo

Many women do push for the bigger, shinier house. Maybe a reflection of something else lacking in their lives.

Men often are the ones going for the more expensive, faster, flashier car, probably for the same reason.

#135 jerry on 08.28.15 at 8:25 am

Was the market decline events of this week based upon a fundamental (fundamentals) market correction or was it from funny stuff like computer trading algo rhythm glitches, weather, political, Chinese reporting?

Was it a “faux” correction?

#136 Bob Santarossa on 08.28.15 at 8:44 am

Nicely said Garth on behalf of the Boomers and those that do invest and appreciate your advice, like me.

You said it all and well about the Anti-Everything/Everyone crowd…the malcontents.

From Trieste, Italy: Ciao d’Italia Garth.

PS: retired and enjoying fruits of labour, a nice non-CPP/OAS pension and investments…and no, not a 1%’er just a 3%’er…well, per Revenue Canada anyways.

#137 VoteABC on 08.28.15 at 8:58 am

History’s lesson is to stay the course, and stay invested.

A few days ago I was down 8.16% for my investments.
As of this morning, I’m only own 3.77%.

Indicators are we’ll make that up with recovery sooner rather than later. Not a worry at all !

#138 TonyTangent on 08.28.15 at 9:06 am

China’s central bank just the other day admitted to printing massive amounts of new money to offset the falling stock market there, which would explain the bounce back. This is exactly what the fed did in 2008 to prevent the collapse of the US economy.

But the fed still continues to inject massive amounts of cash into the financial system with sluggish results and unintended consequences (ie increasing wealth gap, increasingly high cost of living, lack of quality full time jobs).

Why haven’t 13 million new jobs convinced the fed to raise historically low rates (ie, 0%) after nearly 6 years?

#139 FutureExpatriate on 08.28.15 at 9:15 am

Doggone that socialist Obama… how dare the US do well.

Maybe Canada will get lucky. When it gets less conservative.

Oops, sorry; redundant.

#140 Nora Lenderby on 08.28.15 at 9:29 am

#229 gut check on 08.27.15 at 4:03 pm
“the comments today make me puke.

Piss on the lot of you – and that includes all the females who felt they had to pipe up and defend yourselves. Quit playing their game — or at least stop trying to score credibility points with neanderthals. they’ll pat you on the head for it but really what they’ll do is pat each other on the back their success in training you how to behave.”

Eventually you realise pissing on people is a waste of precious nitrogen.

Those that feel free to anonymously annoy or abuse apparent women on the Internet show such a sad desire to maintain some sense of superiority over “mere females”. It’s not normal behaviour in my circle of acquaintances, but I suppose that’s because they are happy winners.

And as for:
#160 OttawaMike on 08.27.15 at 7:33 am
to Julia on 08.26.15 at 7:01 pm

You’re not a twelve-year old, but you play one on the Internet? I suggest you apologise, dear boy.

#141 Colin Powell on 08.28.15 at 9:39 am

What is really pushing the market-
http://seekingalpha.com/article/3472286-the-fed-spent-23-billion-in-3-days-but-still-had-a-hard-time-pushing-up-stocks
advice or advise to a single fat chick who will never get a date. Guys hate grammar grls.

#142 A Canadian Abroad on 08.28.15 at 10:06 am

One of the best pieces of advice in my Financial Diploma course was “WFC” Wait-For-Confirmation before buying or selling in the markets. Don’t knee-jerk into a bull/bear signal but wait for the confirmation it is so.

Of course, for long term holders, this matters less as market timing matters less.

#143 Holy Crap Wheres The Tylenol on 08.28.15 at 10:19 am

#111 Smoking Man on 08.27.15 at 11:35 pm

#98 drydock on 08.27.15 at 11:16 pm
Loose instead of lose.
Looser instead of loser.
Dam instead of damn.
And now advise instead of advice.
What’s to become of the world?
…..

Substance abuse is what I’m thinking
___________________________________________
Nope Alien Incursion from planet Nectonite. The Nectonions cannot communicate with us simple earthlings via audible harmonics. They must communicate via binary code in 1’s and zeros’ only. When converted from binary to hexadecimal in base code 15 they tend to drop a bit and it always comes out spelled wrong. It’s not their fault, it’s their programming.

4e6563746f6e6974657320756e6974652c206c697665206c6f6e6720616e642070726f7370657221

#144 jess on 08.28.15 at 10:30 am

hate the fake and the faulty

-“faulty studies often succeeded is in telling us what we want to believe about the world.”
http://retractionwatch.com/category/by-author/diederik-stapel/
The “fraudulent” Social Cognition article found, according to its abstract, that the more positively you perceive yourself, the less you need to compare yourself to other people. Conversely, negative thoughts were linked to more comparison to others. As an article in the New York Times points out, where Stapel’s faulty studies often succeeded is in telling us what we want to believe about the world.

Here’s the retraction note for the
http://retractionwatch.com/2015/08/26/stapel-is-up-to-55-retractions-another-article-determined-to-be-fraudulent/#more-31371

Retraction Watch

Tracking retractions as a window into the scientific process
Nutrition researcher Chandra loses libel case against
CBCThe self-proclaimed “father of nutritional immunology,” Ranjit Kumar Chandra, has lost a libel lawsuit against the Canadian Broadcasting Company (CBC).

http://retractionwatch.com/2015/07/31/nutrition-researcher-chandra-loses-libel-case-against-cbc/

#145 Prairieboy43 on 08.28.15 at 10:34 am

Famous Motorcyclist, Malcolm Smith on the left. OffRoad Enduro Star back in the 70’s. Born in Salt Spring Island, B.C. Moved to Southern California, dominated desert races in California, and gold medalist ISDE. Is a business owner with Malcolm Smith Motorsports.
Is in the 1%. Doing what he likes, doing it well. Probably diversified portfolio, not worried about market crashes.
Like Garth says. 60/40. Not all in R.E.
PB43

#146 waiting on the westcoast on 08.28.15 at 10:35 am

#95 Chris in Nanaimo on 08.27.15 at 10:39 pm
“#13: “I know many males who are bad with finances, over spend and are into expensive toys that only depreciate. I was married to one….”
————————-
Sure both sexes are crap when it comes to finance….but it sure seems like it’s primarily the female of the species pushing to move to larger homes attaining granite and steel along the way.

I don’t have a TV but the few times I’ve seen HGTV it’s pretty much always the woman in the driving seat in these ‘flip it/reno/lets buy a bung’ shows.

I dunno….I just can’t see a bunch of guys sitting around on a Friday night willingly watching HGTV…..;-)”

I think women are better with finances and more responsible with money. But – there is a pretty massive hormonal need to nest with women which marketers have leveraged. Just like how downtown restaurants leverage cute female servers to eradicate the majority of men’s wealth… ;-)

#147 Andrew on 08.28.15 at 11:03 am

If we want housing prices to go down, abolish the Greenbelt and abolish the Agricultural Land Reserve.

#148 Calgary Rip Off on 08.28.15 at 11:09 am

Anger is not a good thing because oftentimes you destroy yourself before you hurt others. Either way everyone loses.

Are baby boomers to blame for this mess? Yes. Mostly through numbers alone. The sheer volume of people shifts trends in markets.

A smart person figures out somehow to avoid this mess. Through education, cunning and persuasion, how to identify what you want and get there with minimum of time and effort. Efficiency equates with not dealing with people you dont want to see and stopping problems by not even being there when those problems show up in the first place.

So oil went up 10%. So it went down 10%. Guess what? Saudi Arabia has most of the oil and controls the markets. Zero you can do about it. Eventually they will run out but it wont affect their wealth due to investing. That is so far off it doesnt impact anyone alive today. So it is pointless even following what oil does because no one in north america has a say about it. The Arabians dont think like north americans and have a different ideology and culture completely so communication is pointless.

Better to focus on other things you have direct control over rather than worrying or noticing others success and failures. There will always be someone better or worse off, in anything.

For any of the posters here that disagree, check back in 100 years, if you can and see if any of this affects you by then. Chances are you wont be able to.

#149 Dup on 08.28.15 at 11:11 am

Good post today. Speaking the truth is good.

#150 Bill on 08.28.15 at 11:28 am

Im posting this not because I like the site but the guy the was posted is very conservative with a very good track record over the long term. Yes he bailed on commodities to eons ago. As for the site owner hes a fear mongering dooms dayer / prepper clown pumping resource stocks in the worst Bear market in history.
As I said on prior blogs I don’t think we have the all clear. Here’s Puru.
http://www.321gold.com/editorials/saxena/saxena082715.html

#151 Retired Boomer - WI on 08.28.15 at 11:47 am

Interesting. Blaming Boomers for the current problems…
Yes, we share in environmental degradation. No, we have little share in the shoddy products the school system turns out. Blame the “new and improved” for that.
Boomer out comes vary quite widely. A small percentage are debt free, with a decent nest egg that could sustain them with, or without the added bonus of social security, CPP OAS etc. SMALL % probably under 12%. A wider swath will hold manageable debt, fair savings, and with their old age promised money will do OK unless they live too grandly, pissing it away at the casinos, lottery tickets.
Then we have a much larger contingent, who failed to plan, or let’s face it, just never earned a sufficient level of income to really put away “enough.” Hey, 15% of little IS still “little” even after compounding. This broad swath might own a home, or not.
They retired, or delayed retirement because the resources were just not sufficient. If they retired, they did it to a lower style of living. If they delayed well maybe they will be better off. Who Knows.
Bottom line: It takes a whole lot of time to build the resources one needs in retirement. Start small, stay the course, and let time do its magic in compounding.

Bitching will not get you there! Selling the house might help, but you still need shelter somewhere. Better to have the means to rent, than have a house with no means.

By the way, I see Quebec has the most sane budget this year. What… Quebec? The basket case province of yore?
Alberta might be poised to go drain-o, and Ontario not far behind, but Quebec’s budget has no deficit, and plans to pay down on provincial debt?

Could that article in Barron’s be accurate??

#152 pinstripe on 08.28.15 at 11:49 am

The alberta PCs are stirring the pot but Rachel is moving forward and most Albertans appreciate her approach. the pc armour is showing many cracks.

http://www.cbc.ca/news/canada/edmonton/alberta-government-managers-found-guilty-of-manipulating-contracts-1.3205930

#153 Steerage Bilge on 08.28.15 at 11:51 am

#128 Nagraj on 08.28.15 at 1:14 am

Yo! STEERAGE BILGE buddy!
About the names of Mrs.Harper’s two cute little vampire pet bats, “9” and “16”. You remember the Pythagorean Theorem, don’t ya? Sure you do.
Well, 3×3=9, 4×4=16, and so the hypotenuse is 5, eh? SO her third little bat will be named “25”.

Canadians looking for things UNIQUELY CANADIAN should be thrilled with the fact that Canada’s First Lady is the ONLY First Lady in the world who has pet vampire bats.
(And she’s a math symbolist too!) (In a whisper: You don’t suppose she’s a Wiccan?)
This is really most interesting.
————————————
Quite likely they are being trained to suck the blood of socialists. AND while not tending her growing menagerie she also rides a motorbike. She is the anti-harpo. Maybe we can switch her for hubby?

#154 Steerage Bilge on 08.28.15 at 12:17 pm

Muzzled for the Harperman Song!

http://news.nationalpost.com/news/canada/canadian-politics/public-servant-being-investigated-for-writing-and-performing-anti-tory-harperman-song

#155 Nora Lenderby on 08.28.15 at 12:18 pm

#148 Calgary Rip Off on 08.28.15 at 11:09 am
Saudi Arabia has most of the oil and controls the markets. Zero you can do about it. Eventually they will run out but it wont affect their wealth due to investing. That is so far off it doesnt impact anyone alive today. So it is pointless even following what oil does because no one in north america has a say about it. The Arabians dont think like north americans and have a different ideology and culture completely so communication is pointless.

SA looks like it is in the process of losing its swing producer status to the US. And OPEC is not now controlling the majority of production. Many of their members are struggling economically and cannot control the price.

There are also a number of things happening outside SA’s borders that are worrying to the regime (intervention in Yemen, IS in Iraq & Syria, Kurds and Turkey getting nasty, Iran and US starting to talk to one another). This, together with the demographics of the entire region (lots of young unoccupied people) mean that the present situation is not guaranteed to last.

I suggest that people read around the topic a bit more. It doesn’t mean we can do anything about it as individuals, but it might mean we can post on blogs without coming across as uninformed (amusing as that might be).

#156 Not Inflated on 08.28.15 at 12:21 pm

Sal Guatieri of BMO himself says no housing bubble in Toronto. Condos are being absorbed nicely too. Dream on dramatists.

#157 Edmonton Fool on 08.28.15 at 12:31 pm

https://www.reddit.com/r/Edmonton/comments/3inba2/august_real_estate_preview_now_with_extrapolation/

#158 Holy Crap Wheres The Tylenol on 08.28.15 at 12:33 pm

#148 Calgary Rip Off on 08.28.15 at 11:09 am

Anger is not a good thing because oftentimes you destroy yourself before you hurt others. Either way everyone loses.

Are baby boomers to blame for this mess? Yes. Mostly through numbers alone. The sheer volume of people shifts trends in markets.

A smart person figures out somehow to avoid this mess. Through education, cunning and persuasion, how to identify what you want and get there with minimum of time and effort. Efficiency equates with not dealing with people you dont want to see and stopping problems by not even being there when those problems show up in the first place.

So oil went up 10%. So it went down 10%. Guess what? Saudi Arabia has most of the oil and controls the markets. Zero you can do about it. Eventually they will run out but it wont affect their wealth due to investing. That is so far off it doesnt impact anyone alive today. So it is pointless even following what oil does because no one in north america has a say about it. The Arabians dont think like north americans and have a different ideology and culture completely so communication is pointless.

Better to focus on other things you have direct control over rather than worrying or noticing others success and failures. There will always be someone better or worse off, in anything.

For any of the posters here that disagree, check back in 100 years, if you can and see if any of this affects you by then. Chances are you wont be able to.
___________________________________________
So Baby Boomers are to blame for it? We as Boomers have seen it all. The Cold War, the Cuban Missile Crisis, assassinations of JFK, Robert Kennedy, and Martin Luther King, Jr., Black Panther Movement, Black Day in July, political unrest, sent a man into space and then to walk on the moon, the draft into the Vietnam War, military service during the Vietnam War, anti-war protests, middle east explode into several wars, Israel attacked and isolated, social experimentation, sexual freedom, drug experimentation, civil rights movement, environmental movement, women’s movement, abortion rights, protests and riots, Woodstock 69, the birth of terrorism through the 1972 Olympic massacre, Watergate, a president having to resign, the 1970’s oil embargo, uncontrolled inflation, gasoline shortages, economic recession and lack of viable career opportunities upon graduation from high school or college. Every generation wants to blame another for their woes. We didn’t blame any other generation for the shit we were dealt. So I think we have seen enough to qualify for the right to say you “reap what you sow.” Some of us have done well and some not so well! We did pay for everything we’ve earned!

#159 Chris in Nanaimo on 08.28.15 at 12:36 pm

#134 Julia.
‘Maybe a reflection of something else lacking in their lives.’

Yes…it’s the lack of granite and Steel I think ;-)

Unfortunately there’s several orders of magnitude difference in the financial hit between a McMansion and the latest quad bike.

#Smoking man…..’Mangina’….but that would have lit up this blog like a Christmas tree I suspect. So I played nice.

#160 Holy Crap Wheres The Tylenol on 08.28.15 at 12:38 pm

Ha, Smoking Man unmasked at last. Now we know who you are. Domo arigato.

http://www.bloomberg.com/news/articles/2015-08-28/while-many-panicked-japanese-day-trader-made-34-million

#161 Nora Lenderby on 08.28.15 at 12:48 pm

On the subject of the effects of cheap oil:

https://www.project-syndicate.org/commentary/cheap-oil-and-global-growth-by-anatole-kaletsky-2015-08

#162 Canadian Mortgage fraud on 08.28.15 at 12:52 pm

Canadian Mortgage fraud is H U G E. If it were allowed to get exposed by a third party the house of cards called Canada’s housing bubble would implode so hard Canada would be finished. Every mortgage broker knows this to be 100% fact. Everyone knows someone who got a mortgage that should never have.

http://www.cbc.ca/news/business/big-banks-defend-mortgage-scrutiny-in-wake-of-home-capital-fraud-allegations-1.3206970

#163 jess on 08.28.15 at 1:00 pm

American people don’t like this perhaps….

market timers a “pass” with the timing police, who would look the other way rather than
attempt to shut down their short-term trading.

FACTUAL ALLEGATIONS page 13of44
http://www.ag.ny.gov/sites/default/files/press-releases/archived/canary_complaint.pdf
Mutual-Fund Scandals
January 11, 2004
http://www.bloomberg.com/bw/stories/2004-01-11/the-mutual-fund-scandals
============
Barclays fails to win dismissal of NY ‘dark pool’ lawsuit …
http://www.reuters.com/…/us-barclays-newyork-darkpool-lawsuit-idUS...
Reuters
Feb 13, 2015 – The case is Schneiderman v. Barclays Capital Inc et al, New York State Supreme Court, New York County, No. 451391/2014. (Reporting by .

here is the complaint
http://www.oag.state.ny.us/pdfs/NYAG-Amended-Complaint.pdfequency traders

Matt Levine Feb 17, 2015 4:23 PM E
http://www.bloombergview.com/articles/2015-02-17/barclays-isn-t-out-of-its-dark-pool-trouble-yet

Dark pool lawsuit against Barclays dismissed by US judge
27 August 2015
http://www.finextra.com/news/fullstory.aspx?newsitemid=27777
Bank wins major legal victory but still faces similar claims from New York Attorney General
http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/11826707/Barclays-dark-pool-lawsuit-thrown-out-by-judge.htmll

SEC Chairman Mary Jo White said that the amount of off-exchange trading “risks seriously undermining” the quality of the U.S. stock market. The SEC also has been investigating the operations of several large dark pools, according to people familiar with the matter.

#164 BC is awesome on 08.28.15 at 1:01 pm

http://business.financialpost.com/personal-finance/family-finance/single-mom-with-six-figure-salary-should-be-affluent-yet-shes-anything-but

She is 53 and 28 year mortgage => 81

Patricia’s home is a condo with an $810,000 estimated price in the inflated B.C. market. It carries a $645,000 mortgage at 2.74 per cent, which costs her $2,725 a month to service. The mortgage has 28 years to run.

#165 OXI in GREECE !! on 08.28.15 at 1:03 pm

So oil went up 10%. So it went down 10%. Guess what? Saudi Arabia has most of the oil and controls the markets. Zero you can do about it. Eventually they will run out but it wont affect their wealth due to investing. That is so far off it doesnt impact anyone alive today. So it is pointless even following what oil does because no one in north america has a say about it. The Arabians dont think like north americans and have a different ideology and culture completely so communication is pointless.
<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<

Cept that Saudi Arabia does not have most of the oil…and does not control the market. This is a huge fallacy. Fantasy TV like CNBC only makes you think that…..

#166 Ponzius Pilatus on 08.28.15 at 1:22 pm

Someone posted that the Saudis are not as rich as they think they are.
Me thinks, they should start banking with the Scotiabank.

#167 Bob Santarossa on 08.28.15 at 1:27 pm

#158

Nicely said. And boy did you bring a lot of memories back.

You forgot disco though…we lived thru that too.

And you’re right we don’t blame anyone.

#168 MF on 08.28.15 at 1:40 pm

#156 Not Inflated on 08.28.15 at 12:21 pm

Hey buddy, think BMO has anything to gain from the debt orgy?

MF

#169 MF on 08.28.15 at 1:51 pm

#164 BC is awesome on 08.28.15 at 1:01 pm

This idiot -sorry- person has no desire to pay off that mortgage. She is just in it for the capital gains like everyone else. Her plan is to sell in ten years for 3 mil like all the other idiots -sorry- people in Vancouver and Toronto. Mortgage be damned.

MF

#170 MF on 08.28.15 at 2:08 pm

#113 Nosty, etc. on 08.28.15 at 12:08 am

OH no! 800 US military bases around the world???

Hopefully that will increase to 1600 in the future.

#158 Holy Crap Wheres The Tylenol on 08.28.15 at 12:33 pm

I agree with your statement about every generation wanting to blame others. The boomers also lived through the greatest economic expansion the world has ever seen. It is a million miles from perfect, but there is some gratitude in this millennial. Life by all accounts is pretty good in 2015 compared to all other human history, especially in Canada.

#229 gut check on 08.27.15 at 4:03 pm

I just went back and read your little rant. Are you a single mother? Doesn’t really matter I guess. Point is vast majority of men will always prefer a feminine woman. I kind of dislike using the word traditional but there is some relation between the words. You might have to wait another few million years of evolution before things change.

MF

#171 Godth on 08.28.15 at 2:46 pm

#170 MF on 08.28.15 at 2:08 pm

You are such a radical! Seriously, you are a throwback. We live in the 21st century, there’s black and white points on either end and a great big ball of varying shades of grey in the middle. Subtlety and nuance count.

The world doesn’t need the USA to control it, in fact this is corrupting the USA beyond recognition. “No foreign entanglements” was the call of a republic (as imperfect as it was) but you’re calling for more empire…lost, and unaffordable in so many ways.

What a doom and gloomer you are, from the perspective of freedom and liberty. You’re calling for more USA dominance so your market share can rise. Sad.

#172 S.Bby on 08.28.15 at 2:52 pm

Canadians screwing up a local real estate market…

http://www.theprovince.com/entertainment/Megamansions+flips+Vancouver+Canucks+owner+embroiled+house/11319708/story.html

#173 Not Inflated on 08.28.15 at 2:56 pm

#168,

Hey buddy, ever heard of sarcasm?

Even Garth has stopped responding to these types of gibes.

However, I must say that prices in Toronto do not seem to hurting at all. People just keep listing for higher and higher. Houses that have no business listing for even one million are regularly getting listed for 1.3 or 1.4 million. That’s about $5,500 a month for the mortgage with 20% down. Must be a lot of drug dealers in Toronto or people running fake dating sites.

#174 gut check on 08.28.15 at 3:02 pm

Hey MF,
thanks for reinforcing my thesis statement, little fella.

#175 ANON on 08.28.15 at 3:24 pm

#88 Backstep on 08.27.15 at 10:25 pm
‘Ribald’ doesn’t mean what you think it means.

Actually it does. — Garth

I had a hunch Deez Nutz has a fair chance in the polls. :)

#176 Smoking Man on 08.28.15 at 3:40 pm

Nosty,

great links, blows my mind how you find em.

#177 OttawaMike on 08.28.15 at 4:11 pm

Nora Lenderby

You’re not a twelve-year old, but you play one on the Internet? I suggest you apologise, dear boy.
————–

I was just poking fun at Julia for bragging about her high income at the same time as the Ashley scandal.

But yeah you are correct, we have a shortage of women commentors here and I shouldn’t scare them away. I have tendency to do that as women always end up running away from me screaming while holding their panties on tightly with both hands ;)

#178 Smoking Man on 08.28.15 at 4:30 pm

#160 Holy Crap Wheres The Tylenol on 08.28.15 at 12:38 pm
Ha, Smoking Man unmasked at last. Now we know who you are. Domo arigato.

http://www.bloomberg.com/news/articles/2015-08-28/while-many-panicked-japanese-day-trader-made-34-million

The kid is good, totally understand the wanting to remain private..

But that’s what you do, two aces in the hand, two on the flop….

All in

#179 cramar on 08.28.15 at 4:33 pm

158 Holy Crap Wheres The Tylenol on 08.28.15 at 12:33 pm

Every generation wants to blame another for their woes. We didn’t blame any other generation for the shit we were dealt. So I think we have seen enough to qualify for the right to say you “reap what you sow.” Some of us have done well and some not so well! We did pay for everything we’ve earned!

—————
Agree. Millennials like to blame the Boomers. You didn’t see the young men going to war in 1939-41 blaming their grandparent’s and parent’s generations for the mess they were in.

#180 cramar on 08.28.15 at 4:40 pm

#160 Holy Crap Wheres The Tylenol on 08.28.15 at 12:38 pm
Ha, Smoking Man unmasked at last. Now we know who you are. Domo arigato.

http://www.bloomberg.com/news/articles/2015-08-28/while-many-panicked-japanese-day-trader-made-34-million

——————

This dude will probably crash and burn at some point in the future. His ego is going to guarantee this. Hubris will do you in eventually every time!

The smartest thing he could do is walk away, and get a safe balanced portfolio. But his ego will not let him. Even playing with no more than 10% while safe investing the rest would be better. But he will try to score $50mil or $100mil in future.

#181 Freedom First on 08.28.15 at 4:43 pm

#122 Ontario’s Left Coast

Really? Is that all you got?

#182 Randy Randerson on 08.28.15 at 4:44 pm

#260 gut check on 08.27.15 at 9:00 pm

Wow, so you seriously believe if your husband/boyfriend stands up to you, your female acquaintances will give him a round of applause? You seriously believe that your friends won’t call him every single names under the sun? And you seriously believe you’ll love him even more for denying your emotional request? Even thought he’s right? You must be crazy to think that. I’m so glad I have no one like you in my life.

#183 West Texas Trader on 08.28.15 at 4:47 pm

“Stocks have recovered in Europe and in China, where the index soared 5.3% amid more moves by the interventionist government to stabilize markets and restore investor confidence. ”

Yes…stocks recovered…..but the real story of the week was how ETF’s got hammered most by algorithm trades in what became a bottomless market Monday morning…..dispelling the myth that ETF’s are ‘safer than stocks’.

There is no market maker on the floor of any stock exchange trading ETF derivatives the way stocks are handled. That’s why when the crash open up wide it was the ETF’s that opened down as much as 50% and more…while stock handled it much better. Stock holders have for the most part recovered…many ETF holders will get some very bad news on their statements over the next two weeks.

Don’t say I didn’t tell you to trade stocks instead of passively avoiding the hard work of fundamental analysis..or hiring someone who understands how to analyze equity issues?

Buy main index, mainstream ETFs with lots of liquidity. Problem solved. — Garth

#184 t13 on 08.28.15 at 4:58 pm

Yah .. Capitalism is a game, either you learn to play it or you’re DELETED. What a great society, huh? We are forced into a financial game most of us never wanted.

#185 OttawaMike on 08.28.15 at 5:08 pm

#145 Prairieboy43 on 08.28.15 at 10:34 am

Yeah, Malcolm Smith, one of my heroes as a teen and twenty something.

Unfortunately, I never reached the pinnacle in my enduro riding career like he did. Great products coming from him now for enthusiasts.

#186 Retired Boomer - WI on 08.28.15 at 5:37 pm

#158

Eloquently stated – My Thanks!

RB

#187 Smoking Man on 08.28.15 at 5:44 pm

#180 cramar on 08.28.15 at 4:40 pm
#160 Holy Crap Wheres The Tylenol on 08.28.15 at 12:38 pm
Ha, Smoking Man unmasked at last. Now we know who you are. Domo arigato.

http://www.bloomberg.com/news/articles/2015-08-28/while-many-panicked-japanese-day-trader-made-34-million

——————

This dude will probably crash and burn at some point in the future. His ego is going to guarantee this. Hubris will do you in eventually every time!

The smartest thing he could do is walk away, and get a safe balanced portfolio. But his ego will not let him. Even playing with no more than 10% while safe investing the rest would be better. But he will try to score $50mil or $100mil in future.
……..

Your wrong, kid looks at the same stuff I do.. Makes a bet then tops it up on confirmation.

I would need to be wrong 10 times in a row to go bust..

You pick your spots. To go hard… I only put on 20 trades a year.. Their big,

#188 Alex Greene on 08.28.15 at 5:50 pm

Looks like some analysts in the US are more concerned about Canada going down rather than China:

“When Canada hurts, U.S. exporters do, too,” Bricklin Dwyer, an economist at BNP Paribas in New York, wrote in an Aug. 27 note to clients titled “Canada (not China) matters more.”

http://www.bloomberg.com/news/articles/2015-08-28/uh-oh-canada-china-pales-as-a-risk-to-u-s-growth

#189 bill on 08.28.15 at 5:55 pm

#145 Prairieboy43 on 08.28.15 at 10:34 am
#185 OttawaMike on 08.28.15 at 5:08 pm
Good catch guys!
Mike dont feel bad about your enduro skills!
His skill set is a once or twice in a generation phenomena as
those open class two strokes separated the skilled from the wannabes in a big hurry!
just starting the old 490 would give a fellow religion…

#190 OttawaMike on 08.28.15 at 6:27 pm

#189 bill on 08.28.15 at 5:55 pm

just starting the old 490 would give a fellow religion…
——————-

Used to run 465 Yammie and 430 Hondas plus the Can Am 400’s but didn’t make expert class until I went down to the 200s.

As the boys in open used to say”What is your wife riding today, with you racing her bike”

#191 Nora Lenderby on 08.28.15 at 6:34 pm

#177 OttawaMike on 08.28.15 at 4:11 pm
I was just poking fun at Julia for bragging about her high income at the same time as the Ashley scandal.

But yeah you are correct, we have a shortage of women commentors here and I shouldn’t scare them away. I have tendency to do that as women always end up running away from me screaming while holding their panties on tightly with both hands ;)

Doesn’t sound like an apology from an adult. Still sounds like a 12-year old.

#192 Nora Lenderby on 08.28.15 at 6:46 pm

#158 Holy Crap Wheres The Tylenol on 08.28.15 at 12:33 pm
So Baby Boomers are to blame for it? …. We didn’t blame any other generation for the shit we were dealt.

I remember the common phrase “Don’t trust anyone over 30.” Plus a lot of talk about how the older generation was responsible for war, pollution, potential nuclear annihilation, oppressing the poor and racial minorities and so on. Not to mention making recreational drugs illegal.

Then there are the lyrics for the influential song “The Times They Are A-changing.”

So, I think you are completely wrong. Most of the boomer generation started out with ideals (perhaps poorly thought out) and then “sold out”.

We were, and are, the ultimate spoiled brats.

#193 bill on 08.28.15 at 6:54 pm

I never felt more inadequate as a rider until I purchased
that maico.
it was ‘last years’ open mx bike at Hole Shot Racing…
the state of tune was an education in itself.
basically I had to dial the suspension back to where regular folks [like me] could ride it. sweet handling bike then but I doubt real racers would have found it acceptable.
yeah I was a LOT faster on a 250….but the 490?
Glad I had the opportunity to ride a front row bike.
it was always a laugh to send out a friend who thought they could ride it…they came in with white knuckles and a white face. most never rode it again for some reason.
you rode some canned ham eh?
a buddy had the 370 enduro. very nice machine.liked that one a lot too!
I am watching ‘on any sunday’ as I type…
Malcolm is just returning from a 5 day trip on a ‘turtle hauler’ in the Baja

#194 salmon rear end arm on 08.28.15 at 8:09 pm

danny amor maico guy died young. terry coles would drive a streetlegal
xl out to a practice track at iowna island man he was fast in the corner
with that thing. turn signels and all

#195 westcn on 08.28.15 at 8:22 pm

I have lost money. Whether I get it back is a question. I think I will. Nope, I will never marry again – too expensive.

#196 bill on 08.28.15 at 9:46 pm

#194 salmon rear end arm on 08.28.15 at 8:09 pm
you used to hang out at Iona island bc?
I crashed out there in spectacular fashion a couple of times….

#197 Retired Boomer - WI on 08.29.15 at 8:04 pm

#192 Nora Lenderby

Boomers: “We were, and are the ultimate spoiled brats.”

…until one looks at the grandkids… we (Boomers) had gen X and y, now the millenials…. WHAT has changed?

Was it ‘blame’ or, were we merely pointing the errors of the ‘silent generation.’ It is the duty of every generation to point out the screw-ups of those who came before.

How else does this stuff get fixed? Certainly the rock music of the late 90’s thru today is as potent as anything Dylan, Ochs, or Baez wrote in my youth.

#198 Bill on 08.30.15 at 3:58 pm

As I said before this is not your garden variety correction Garth. Markets are so skew by stupid central bank policy.
http://danielamerman.com/articles/2015/EnergyC.html