Lessons

WEDDING modified

A hallmark of the young, the unschooled, the inexperienced and serial drama queens is that they think nobody’s ever lived through this stuff before. In fact social unrest, regional wars, stock market corrections, wealth disparity, lameass politicians, recessions and not being able to find a job when you need one has all happened in the past. It may just not have occurred when you noticed. Or cared. Or were alive.

So no wonder Jen’s letter this week elicited so much response – from her young cohorts supporting the angst to the get-over-it Boomers who outgrew the same sentiments. Yes, the economy is weak, yup, financial markets have been all over the map and, of course, life is stupid expensive and not enough people are hiring. But in no way does this necessarily frame the future, or mean any of it’s permanent.

Recency bias is a bitch. This makes people think what’s happening now, or has taken place up to this moment, determines what is to come. We wallow in it every day on this pathetic blog. It has most people thinking interest rates can never rise or real estate values can never fall. Similarly, lack of experience leads the ingenues to believe any reversal now foretells disaster ahead. So every stock market dip, for example, means investments are going to zero. Every skirmish will lead to war. Every drought is the end of food.

In short, we live in a time when extreme thought is fashionable. That’s why lots of Millennials swear no generation has every faced their challenges. It actually builds the growing foundation of support for socialism among those who believe the current system has failed – since never before have there been such economic, social or environmental issues.

It’s ironic recency bias and extremism seem to breed so well in a generation better educated than any which came before, or has grown up with Google’s omniscience. You’d think people would know far worse extremes were confronted, and overcome, in the past. Like the Dirty Thirties, the Holocaust or Lake Erie catching fire. Did I mention two world wars, Korea, Nam or Nine Eleven?

Anyway, each generation’s entitled to feeling screwed because compared to their parents, most young people are poor and struggling. They also lean left. When I was in university I joined the extremist Waffle wing of the NDP because I bought into ‘buying Canada back’ from the evil Americans. Mel Hurtig was a big deal, until I learned how he milked government publishing grants for personal gain. My education took a big leap forward when, at 22, Dorothy and I started a company and hired eight people after selling every asset we owned. Employees got paid weekly. We ate KD. It was great.

Now, don’t take this as some old guy’s rant about having to walk miles to and from school, uphill in both directions. Kids today graduating into a world of million-dollar houses, ubiquitous debt and the seventh year of a global downturn have no picnic. Especially with the delayed adulthood and inflated expectations that too much schooling caused. But these are not the end times. Markets are not crashing. Banks are not failing. The system is not broken. Hell, it’s not even a real recession.

What has been said here for a long time is worth remembering. Repeat after me:

People who seek out balanced lives will do fine.

The days of lucking out with a one-asset investment strategy are over.

Demographics are negative for real estate.

The cost of money will inexorably and steadily rise.

Nobody wins when corporations are taxed too much or successful people punished for it.

Never bet against America.

Never borrow what you cannot repay.

Curb house lust.

Be beholden to nobody, even the Bank of Mom.

Remember you can earn, borrow or steal money, but you’ll never regain a single hour.

And, of course, never admit you’re wrong. Or dis a kid.

255 comments ↓

#1 zedgt87 on 09.04.15 at 7:06 pm

“Hell, it’s not even a real recession.”

Crystal Balls!! Will you admit being wrong if shit actually hits the fan garth? Nah ..

“And, of course, never admit you’re wrong. Or dis a kid.”

Garth has personally mastered this one ^^

#2 omg the original on 09.04.15 at 7:10 pm

But these are not the end times. Markets are not crashing. Banks are not failing. The system is not broken. Hell, it’s not even a real recession.
———————–
Had I only understood back on the 1970s and 1980s that the world was to about to implode with every “major” world event I would have double or triple what I have now.

It took a while, but I figured it out in the early 1990s.

The world and mankind has a incredible knack for just muddling through.

Ours are not the worst of times or best of times they are just “average” times with some current flavourings.

10, 15, 20 years from now people will look back on today with nostalgia – ahhh….remember the simple, secure and slower times of 2015?

Rest easy keep your money invested or invest more, and don’t buy gold.

#3 the Jaguar on 09.04.15 at 7:11 pm

Don’t buy stuff you don’t need.
Live a bigger life with less.
Give animals a home that need one.

#4 Victoria Up and Up and Up on 09.04.15 at 7:13 pm

For you, Victoria Real Estate Update

Not to burst your repetitive bubble, but the numbers are out for Victoria – prices up 8%!

This has been the busiest tourist season on record. Ontario RE has shot through the roof, giving retirees the cash to actually retire here now; tons and tons of mainland chinese tourists and students here now; and oil money from returning workers pouring in. The Island has been exposed as a jewel now – no turning back.

You may have missed the boat on this market. Just as the market has done nothing for 5 years in spite of interest rate drops means that it may not decline either in spite of interest rate hikes. Same logic as you.

Despite your repetitive warnings against buying, your hope of swaying public opinion has failed miserably.

#5 Basil Fawlty on 09.04.15 at 7:16 pm

Is it true that real wages continue to fall? Is it true that today both parents need to work, which was not true in the 50’s? What is a reasonable level of taxation , for corporations and the stinky rich? Do they need more offshore tax havens, or less? From a natural resource perspective have we used up the low hanging fruit, or is it ripe for the picking? Will we ever be able to have an honest discussion of why all the refugees are running to Europe? Who finances ISIS? Al Quaeda?
Inquiring minds wanna know.

#6 Vanecdotal on 09.04.15 at 7:16 pm

Wise words GT… but define “too much”?

Meh who cares, Happy Long Weekend, Beer o’clock for all!

#7 takla on 09.04.15 at 7:20 pm

I think the broader comment should be ..demographics are negative for realestate,Stocks, and all growth instruments in not only Canada but the states,europe and japan…Ageing populations do not consume as younger pops do.
Japan is the glareing example of this as their population demographics peaked and have been falling for over a decade.
We’ve all lived thru the “fat” yrs,now it will be time to tighten the belts.

#8 Trojan House on 09.04.15 at 7:20 pm

Garth, I think you are correct about how things change, go up, go down and then come back around. However, I don’t think your history goes back far enough.

What goes around, comes around. It has had to every civilization to inhabit this earth. Even the dinosaurs paid a price! Lol!

The problem, in my humble opinion, is that we haven’t learned from our mistakes of the past, therefore, we continue to make the same mistakes today.

People I don’t think realize that what is happening today happened many times before – going back hundreds, even thousands of years – not just the last hundred as you point out.

Until we realize this and learn from history we are doomed to repeat it.

#9 Ardy on 09.04.15 at 7:21 pm

About the time……more true words were never spoken.

We are in our mid 60s and we would give up all our pensions and possessions to be 20 again.

#10 common sense on 09.04.15 at 7:22 pm

Never regain a single hour? I guess time travel is out.

Tell few your debt free.

Never tell anyone your Net Worth.

Life is about experiences not things. (Yes, sorry it’s trendy)

Your taking nothing with you when you die.

No one wished they had worked more.

It’s all cycles.

Don’t fight the FED. (Read this one this week).’

I hope my last cheque bounces. (Kinky Friedman)

Happy Holiday weekend to all…

#11 LJ on 09.04.15 at 7:26 pm

“It is a shame for we are about to enter a period where there will not be a single asset class standing without its ardent supporters suffering huge losses.” – Martin Armstrong

#12 Guy Willoughby on 09.04.15 at 7:26 pm

Good article Garth:

A suggested reading for all the youth would be “Human Action” by Ludwig Von Mises. He was very correct in his prediction of the fall of Communism and Socialism since it goes against human nature. It was an eye opener for me.

Another good read is “The Demographic Cliff” by Henry Dent. None of this reading is exiting for young people, none the less, it is very educational.

#13 Mouldy Millenial on 09.04.15 at 7:29 pm

Hey Garth,

I’m not sure I agree with you that rich foreigners aren’t driving up the cost of housing in Vancouver. It may not be the main driver, but it is certainly one of the top three contributing factors. I have worked in construction in both Vancouver and Toronto, and I can see the difference in what drives the housing sectors. In Toronto I agree with you. Over-indebtedness is by far the main driver, but in the core of Vancouver, I see it differently, and with my own eyes. Not only in my own neighbourhood, but in all the neighbourhoods I work in. Chinese investors, chinese builders, and chinese crews in SFH residential construction, again, in the core of Vancouver.

#14 North Burnaby on 09.04.15 at 7:30 pm

Gartho~~ US stock market is getting crushed, bail me out would ya?

#15 Remember you can earyou’ll never regain a single hour on 09.04.15 at 7:31 pm

Dorothy and I started a company and hired eight people after selling every asset we owned. Employees got paid weekly. We ate KD.

Times are really different then.

Employers get grant and tax credit government checks at companies where interns work for free to build shareholder value in preparation for M&A.

“Remember… you’ll never regain a single hour.”

Dahhh… the first hand experience of the unpaid intern-generation. Invented recently. Before you jump on to correct… yeah… slavery existed before and it was worst.

#16 Brian Ripley on 09.04.15 at 7:34 pm

According to a CMHC release, August 13, 2015: “Low overall housing market risk is observed for Vancouver, as none of the individual risk factors are currently detected.”

Apparently CMHC has not looked at my 6 city Canadian chart (updated with August data):

http://www.chpc.biz/6-canadian-metros.html

…. the Vancouver bull is freakish.

#17 Entrepreneur on 09.04.15 at 7:34 pm

But, but, but…those are just words.

It is easier to borrow on credit than to pay cash; it is harder to wait to pay with cash than to borrow.

Also, the world is not crashing down but it is changing slowly for better or worse.

#18 Habs76-79 on 09.04.15 at 7:36 pm

A few things…

It only takes moments or a short time to spend money you have and/or spend credit availble to you, but it ca take months or years to pay off the debt or t regain your saved money. As a result THINK about that prior to blowing the wad or running up debt just to buy something.

If you realize this you may be less likely to buy stuff that you may not need nor really want, or can truly afford, or otherwise piss money away including running up debt.

I’m not saying do not live life, or not enjoy experiences, or buy things, but to live in a drive for balance as such. Deluding yourself thinking you are wealthy or wealthier than you really are, deluding yourself in thinking YOU ARE ENTITLED will probably BURN you financially and emotionally.

And as for keeping up with the proverbial Smiths and Jones, WHO THE HELL CARES! It’s your life, you need not prove anything to them.

It’s tough to not be mesmerized by things and such. But keeping more within your means will give you a better life.

#19 Heretic on 09.04.15 at 7:36 pm

I totally agree with Garth on ever whining cry baby millinials. Case in point about 3 years ago two of my school friends from India sent their sons to study here in Canada after their Graduation over there.

One guy was an electronics engineer and persued a college course in embedded systems from Conestoga college Kitchener. After his course he is in his 2nd job now in Mississauga earning 62k. And applied for Permanent Residence

2nd chap went west and his course did not yield any white collar job so went into trucking and is now settle led in BC earning approx 70k
My point is if you want bad enough Jobs are out there also you have to use a bit of due diligence when selecting course of study

#20 BC Guy on 09.04.15 at 7:36 pm

The Walton family is among the richest families in the world. Their wealth inherited from Bud and Sam Walton, founders of the world’s largest retailer, Walmart.

In 2010, six members of the Walton family had the same net worth as either 28% or 41% of American families combined (depending on whether household net indebtedness is counted).

Christy Walton $35.9 billion
Jim Walton $34.9 billion
Alice Walton $33.7 billion
S. Robson Walton $33.4 billion
Ann Walton Kroenke $4.8 billion
Nancy Walton Laurie $4 billion
Total $146.7 billion U.S.

Average Walmart Sales Associate pay: between $10.23-$13.03 /hr (no benefits, no retirement, no dental)

American billionaire Walmart heir blocks public access to 200,000 hectare property near Merritt, BC:

http://www.cbc.ca/news/canada/british-columbia/b-c-fishermen-challenge-billionaire-ranchers-for-lake-access-1.1250903

The 200,000-hectare property — reputed to be the largest working cattle ranch in Canada — is owned by billionaire Stan Kroenke, who’s also owner of the NHL’s Colorado Avalanche. His wife, Ann Walton Kroenke, is the daughter of Wal-Mart department store founder Bud Walton.
________________________________________
If I was Prime Minister of Canada or Premier of BC, I would charge this billionaire a billion dollars a year in tax on that property to help pay down the federal and/or provincial deficit. Ideally, he should be forced to sell, the land divided up into 5 acre lots and sold at a reasonable price to average Canadians. So much land should not be held by one family or one person.

Meanwhile, the poor young people in this country are huddled into overcrowded cities forced to pay ridiculous amounts of money for tiny condos and tiny house lots and fighting over minimum wage jobs. Garth, wake up and see what is going on in this country.

#21 I Need A Name on 09.04.15 at 7:37 pm

Garth! You were a Hurtig Hooligan?!!

#22 OXI in GREECE !! on 09.04.15 at 7:37 pm

Well “Murica’s” phoney Mc Jobs numbers are out and Canada continues to hire the public sector only with no tax money to pay for them.

Good luck out there !!

#23 Daisy Mae on 09.04.15 at 7:49 pm

“Dorothy and I started a company and hired eight people after selling every asset we owned. Employees got paid weekly. We ate KD. It was great.”

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

And that is, indeed, what memories are made of — the hard times. We’ve all had them or, will have them.
No exception.

#24 common sense on 09.04.15 at 7:52 pm

Where can I apply to marry a single Walton woman?

#25 Nick on 09.04.15 at 7:52 pm

Over the next twenty-five years, another 1.5 billion humans will be added to this little planet we call Earth. If people don’t think things will drastically change, they are in for some big surprises. The current Syrian refugee exodus to Europe is but a prelude.

#26 Daisy Mae on 09.04.15 at 7:56 pm

“It actually builds the growing foundation of support for socialism among those who believe the current system has failed…”

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

And this, of course, will be a disaster. Do we ALWAYS have to learn the hard way? Appears so….

#27 4 AM Sunrise on 09.04.15 at 7:56 pm

My father and his co-workers immigrated at about the same time (40 years ago) and were hired in one fell swoop into a CAW-backed shop. Most of them are comfortably retired now after working that one job for more than half their lives. Funny, nowadays if you see a batch of fresh foreigners shuffling into your workplace, it’s a bunch of TFWs. How times have changed.

#28 Godth on 09.04.15 at 7:57 pm

When was the last time there have been 7.3+ billion humans on the planet? How many people were there when you were born? Bretton-Woods was still relevant then – correct? What was the global debt to GDP ratio, hell,what was the Canadian debt to GDP ratio when you were born? What was the condition of the top soils then? What was the condition of the oceans? Rainforests? Mineral deposits? The Energy returned on energy invested of oil resources? etc., etc., etc.

btw, literacy is falling in the western world too. Take a grade 8 school exam from 100 yrs. ago. Good luck.

Normalcy bias is a bastard.

#29 Snowboid on 09.04.15 at 7:59 pm

“…having to walk miles to and from school, uphill in both directions…”

You forgot: “no shoes and seven feet of snow”

#30 vicboy on 09.04.15 at 8:01 pm

Got a windfall buyout when my job disappeared in 1983. Paid the mortgage out. Debt free and mortgage free ever since.
Family member got a windfall of the same amount in 1988 and used it as a part payment on a nice BMW.
Car long gone into the crusher. Mortgage still alive and kicking.
I’m enjoying a cold one on the porch not working to pay The Man.
Avoid debt unless its absolutely unavoidable.
Don’t buy bright, shiny things on credit.

#31 Drill Baby Drill on 09.04.15 at 8:03 pm

Mel Hurtig
David Suzuki
Margaret Attwood
Cast of this hour has 22 minutes
CBC news types

ALL have gorged at the taxpayer trough

#32 Drill Baby Drill on 09.04.15 at 8:05 pm

I remember in 1980 the average new home in Calgary was selling for $110K. I can remember saying to myself that I will never be able to buy a home.

#33 Goldie on 09.04.15 at 8:08 pm

#19:

Two fair paying jobs that didn’t go to Canadians.

#34 The New Blue is Orange on 09.04.15 at 8:09 pm

Do you still have a “Make it Canadian” button? I still like the point behind it.

#35 Josh in Calgary on 09.04.15 at 8:09 pm

Garth,
I think you’re right on point with this one. However, there is the other side of the equation. Grey hairs often forget where they came from. That they were young foolish and full of foolish idealistic ideals … and that they turned out just fine (despite what the older generation of their times predicted). So to will it be with the millennials. They’ll find their way and reach great heights that we would not have imagined.

#36 Vanecdotal on 09.04.15 at 8:12 pm

#16 Brian Ripley

Thanks for the data, awesome “Coles Notes” snapshot.

Gee, I wonder what the lone errant variable is propelling us into the stratosphere, different from every other city in Canada with cheap lending, what could it be? How long can it last? Mysteries… will soon be revealed. Feds need revenue. Soon.

Certainly seems *cough* “sustainable”.

#37 Daisy Mae on 09.04.15 at 8:15 pm

#5: “Is it true that today both parents need to work, which was not true in the 50’s?”

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

No. It boils down to ‘whatever the market will bear’. It’s been great for all levels of government — with 2-income families, both paying income taxes to governments, all levels….and daycare costs.

But it hasn’t been great for families. They will eventually come to realize what they’ve lost.

#38 David McDonald on 09.04.15 at 8:15 pm

I’m not a historian but I can’t recall a time when our political system was so broken. Our first past the post electoral system works well when there are two main parties but right now Harper could win with the support of a tiny proportion of the Canadian public.

Harper has brought American politics to Canada and it works. Cunning as a fox, Harper leads a party using contributions from the oil industry to game the system. The relentless attack ads work. The targeting of key constituencies works. Divide and conquer works.
Worst of all, young people like Jen are disabused and may not vote.

#39 april on 09.04.15 at 8:15 pm

Isn’t CMHC made up of realtors????

#40 H on 09.04.15 at 8:18 pm

I am 44.

Went to school on own dime.
Slept in car sometimes
Racked up a ton of debt-blew credit rating-to pay school.
Basically begged for work in my field
Realized after school and all the effort-was in wrong career.

Switched, started all over.

Now, I am well into the 1% club deemed as rich. And not by a few dollars-well in.

Yet I still look over shoulder and now have bullet proof credit, now debt and cash.

You want it–you can get it.

#41 Editrix on 09.04.15 at 8:19 pm

Interesting point about Mel Hurtig. Must look it up.

#42 Joe2.0 on 09.04.15 at 8:20 pm

Not sure what the technical definition of a Market Crash is?
How many corrections or what point decline defines a crash?

Seriously.

#43 ANON on 09.04.15 at 8:24 pm

#23 Daisy Mae on 09.04.15 at 7:49 pm
And that is, indeed, what memories are made of — the hard times. We’ve all had them or, will have them.
No exception.

I’m extremely skeptical that the degree of magnitude to which “hard” will rise to, for future times, is wholly appreciated.

#44 young & foolish on 09.04.15 at 8:29 pm

Regency bias is what people apply when they try to measure something, like an economy, or the labour participation rate and other such fun economic standards. There is the expectation of some “return to the mean”, like when houses cost 3 times earnings or average price to earnings for stocks were at 12.

Maybe it’s not your daddy’s economy any more ???

#45 Joe2.0 on 09.04.15 at 8:29 pm

Leaving the gold standard is what started this paper mess.

#46 debtified on 09.04.15 at 8:38 pm

– People who seek out balanced lives will do fine.
– The days of lucking out with a one-asset investment strategy are over.
-Demographics are negative for real estate.
-The cost of money will inexorably and steadily rise.
-Nobody wins when corporations are taxed too much or successful people punished for it.
-Never bet against America.
-Never borrow what you cannot repay.
-Curb house lust.
-Be beholden to nobody, even the Bank of Mom. NOBODY!
-Remember you can earn, borrow or steal money, but you’ll never regain a single hour.

And, of course, I am never wrong. I am always in control of my destiny regardless of how good or bad the cards I am dealt with. No time to complain. Only time to think of strategies and take actions.

Thank you Garth for helping me!

#47 thr big dipper on 09.04.15 at 8:39 pm

Garth, so you started as a compassionate human being.
But, then you sold out and went the route of self-enrichment.
Ask yourself; will you leave the world a better place? Or just with more people sitting around the casino table called the stock market?
You decide.

I did. My efforts have helped others, as well as my family. I even just gave you a voice. — Garth

#48 crowdedelevatorfartz on 09.04.15 at 8:42 pm

@#20 BC Guy
The Douglas Lake Ranch has changed hands between multimillionaires and billionaires for years. It hasnt paid for itself or made a profit in years ( I believe the Woodwards family owned it for a time while nonstop bleeding money down the drain. Im sure they pay obscene property taxes.
The ownership is a huge ego boost for rich people. Its also the last of its kind in Canada. A mega ranch in the “old west” tradition.
Breaking it up into 5 acre “plots” to sell to Urban cowboys and their runny nosed, PS3 addicted, quadrunner brats to terrify the wildlife on weekends while strewing uncollected popcans and litter everywhere would be almost as economically and environmentally suicidal as most other Zimbabwe-style socialist free land handouts.
Probably one of the main reasons they block access across their property to the previously mentioned lakes. Idiots spending the weekend and then leaving their garbe to attract bears. Bears that will eventually either eat any available food source once the fishing season is over and the yahoos go home. ie the Douglas ranch cows.
So before you’re too quick to “pave paradise and put up a parking lot” to give access to the RV’s and cottage folk out there livin on their 5 acres “roughin it”.
Ask yourself this, If YOU owned Douglas Lake ranch and paid enormous costs to keep it running AND had to deal with idiots garbage would you block access to your land?
In a heartbeat.

#49 Linda on 09.04.15 at 8:45 pm

Life expectancy as per StatsCan for males born between 1960 to 1962 – 68 years. Life expectancy for males born between 2000 to 2002 – 77 years. For females, the 1960 to 1962 female has a life expectancy of 74 years; the 2000 to 2002 female has a life expectancy of 82 years. The average life expectancy for Canadians as of 2012 is 81.24 years as per the mighty Google, which by the way did not exist when the boomers were young adults. No internet, cell phones might have been a military thing way back then but were definitely not in the hands of the general public & the Cold War was in full swing. In fact, in September 1983 nuclear holocaust was averted by the slimmest of margins – a Russian officer decided NOT to push the launch button even though the early warning system was telling him America had launched a nuclear missile towards Russia. None of us might be here today if he had decided otherwise.

Regarding the housing market, what baffles me is that people simply don’t just say no, refuse to buy at the insane prices & let the market collapse of its own accord. I totally get wanting a place of one’s own – I own a house – but I was fortunate enough to buy when prices were still within reach of the average Joe. I simply can’t fathom paying the amounts of money being asked today for tiny little shoebox condos that in many cases don’t even boast cement construction – wood only & poorly constructed at that – or the even more insane prices for just as badly constructed McMansions. Of course, I still live in the house we purchased over 30 years ago – I’m the anomaly as per Garth, in that we didn’t sell & move multiple times, upgrading to bigger places each time we moved. What we did do was renovate to keep the house in good shape & make it ever more useful as a living space over the years. Never saw the need to get a bigger space, because all that does is make for more housework & maintenance. And never thought of the place as a retirement fund either – a house should be a home, otherwise what’s the point of having one? If you want to make money from real estate, invest in REIT’s.

#50 For those about to flop... on 09.04.15 at 8:46 pm

Hey Garth 2 “Lessons” in one week .
I am underemployed at the moment can I be the guy who picks the title of your posts?

#51 Smoking Man on 09.04.15 at 8:51 pm

#23 Daisy Mae on 09.04.15 at 7:49 pm
“Dorothy and I started a company and hired eight people after selling every asset we owned. Employees got paid weekly. We ate KD. It was great.”

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

And that is, indeed, what memories are made of — the hard times. We’ve all had them or, will have them.
No exception.
………

A Hard Time is a state of mind…

Oh….. how I long for one. Kidding aside

Ive never had a hard time, I’ve faced some serious big ass obstacles which I’ve danced around.

Never in my life had I had the woow is me syndrome.

Great gene pool is what I’m thinking.

I believe dyslexia had something to do with it.

Gone is my 300k a year gig at the tax farm..off shoring I beilive.

Yet my casino revenue replaced with a projected 800k min to whereever I feel like taking it. On 20 hours a week so far.

Yes I can write a letter to my mpp, these indians are taking all the jobs.. I know 99% are usless. With fake obedience certificates. IT Management will be stars for a short time..then boom. I know whats coming, ive seen it over and over.

Programming is an art, like a painter, a writer..very few can do it good.

Im now Tapping a un serviced market.. Office automaton for teeny tiny business..

My model works amazingly, but it took 5 years to get to this point.

#52 Drill Baby Drill on 09.04.15 at 8:56 pm

#38 David Macdonald
I do remember a time in this country whereby the eastern political interests stuck it to the western political interests. It was called the NEP by Trudeau and Lalonde.

#53 LOL on 09.04.15 at 8:56 pm

#3, the Jaguar

walk more, while not eating…

#54 John on 09.04.15 at 8:57 pm

Apparently, the unemployment rate across Canada has now notched up above 7%. Does anyone really think that these folks will find much comfort in being told to suck it up cause the Great Depression was a worse bI%### or that all of their repoed stuff circling the drain can be sluffed off as ‘less is more’ and ‘stuff is for losers’? Nope. Dief trounced Pearson during a recession and now the NDP is lining up its ducks… Fear the Fear.

#55 Bill Gable on 09.04.15 at 8:58 pm

“Remember you can earn, borrow or steal money, but you’ll never regain a single hour”.

Amen.

I should have this on a big sign over my computer.

Great post, as usual.

#56 John on 09.04.15 at 8:59 pm

Cool. Garth is a Pollyanna! Poloz is a poodle. Time to swill some craft beer and forgetaboutit…

#57 Sebee on 09.04.15 at 9:01 pm

Garth,

Could I ask you to narrow down to 10? 10 rules or commandments are a fashionable quantity. You have 11. Which one would you like to drop for the final draft?

#58 Smoking Man on 09.04.15 at 9:03 pm

The whole secret to weath creation.

Three words.

Multiple Income Streams.

You settle down in a job, one source of income, enjoy slavery your entire life.

#59 Waterloo Resident on 09.04.15 at 9:03 pm

Good news everyone: Time to buy stocks.

My timing system gave me a big ‘BUY’ signal today, told me to buy at the opening of the trading day. So if you are still waiting in cash, I would suggest that on Monday you start loading up on U.S. equities.

——–
And for any young Millennials here, I’ve got a message for you:
“OH MY GOD YOU’VE GOT IT TOUGH THESE DAYS, I really do understand where you are coming from; the economic mess you’ve been handed to you by the previous generation is just total crap.”

So what do I suggest you do? This is what I suggest. Since you are not making enough income to spend like the boomers, then DON’T. Use today’s modern technology to live life frugally.

– Rent a 2 bedroom apartment, then convert the 2 bedrooms into mini apartments and convert the living room into your bedroom that you will use, and use AirBNB to rent out those 2 mini apartments you have just made. (have to share the one bathroom jointly amongst everyone who comes.) That way you just might be able to afford to live a little with the extra cash you make.

– Use a car sharing service for the times when you need to use a car to go out of town. At all other times use a scooter to get around, and public transit where ever possible.

– As for jobs: Learn Engineering or Accounting and move to Germany for a good job. I’m not kidding, Canada is an insane place to try to get a job and get ahead. Save yourself 10 times the effort by simply moving to a place where your skills are valued by employers and that sure as heck isn’t here or in the U.S.

Don’t know much more than that, and some of my points might be totally wrong, I’m not sure, but that’s how I feel about Canada = Its over priced, the competition for the few non-existent jobs is crazy, and the pay you will eventually get is way too low for the effort involved. Just move to Germany once you get your degree and life will be so much smoother for you.

#60 young & foolish on 09.04.15 at 9:05 pm

“Will we ever be able to have an honest discussion of why all the refugees are running to Europe?”

A very good question (although not financial, yet) … why not Quatar, Saudi Arabia, Iran, or even Turkey?

#61 Godth on 09.04.15 at 9:06 pm

#48 Linda on 09.04.15 at 8:45 pm

You forgot to mention that “The China Syndrome” was just a movie. Since then we’ve had Chernobyl, and worse still, the ongoing Fukushima tragedy. It’s a reality now.

You also said that there was a “cold war” but Robert McNamara would disagree. How many nuclear tests were there? How many cancer cases are there now? In children? A just God wouldn’t do such things.

Prof. Stephen J. Cohen (lived through the cold war) suggests that what is happening these days is more dangerous.
https://www.youtube.com/watch?v=MTt7J0cyFUE

:) :) :)

#62 young & foolish on 09.04.15 at 9:12 pm

A surge of sympathy toward Syrian migrants (hey, were we not over there bombing their country?) … until they start demanding sharia law be implemented and sex education not taught in the schools.

Of course, even voicing such concerns can paint you as a “racist” and politically incorrect.

#63 G on 09.04.15 at 9:14 pm

To #40 H,
I’m also 44, graduated engineering into a recession and finding work was hard.
Now own my own firm and 1%, employ others and give back mightily to charity in time and $.
To young people: work your a$$ off for a long period of time and you will be fine.
Life is hard, ’twas ever thus.
If success is important to you, you’ll find a way; if not, you’ll find an excuse.

#64 BG on 09.04.15 at 9:17 pm

#50 Smoking Man

How come you haven’t written you own automated trading system yet?

Is it because it is of no use to a retail investor?
Or maybe you prefer trading with your guts?

Just curious.

#65 Dirty Debtor on 09.04.15 at 9:18 pm

Garth

Best blog post in a long long time

I dont understand my generation. Frothing at the mouth for everything their parents have. Steady jobs, big houses, fancy cars. Years go by wasted in rush hour traffic and on the couch with the TV.

Im enjoying my youth, energy, freedom and mobility. Running a little red on paper, but spending these most valuable hours as wisely as I can

DD

#66 Brunett43 on 09.04.15 at 9:20 pm

Best advice as always Garth.

I’m going to print out the bottom part of this post and hand it on the fridge for my sons.

I think I’ve been very fortunate to have lived in the best of times that mankind has known. (So far so good) Growing up in the 60’s & 70’s was exciting, so much change in such a short time.

I grew up in a middle class family and never went without. During my 20yr marriage we were pretty well off and debt free. There was only one time in my life when I got into debt (20k) and that was after an auto accident and I became unable to work again. And raising two kids on my own, those were tough times. But I’m resourceful, got through it, paid off the debt in 5yrs and I’m now debt free and got a nice settlement which I invested and I’m content with what I have. I learned a very tough lesson during that time, and whenever I felt sorry for myself, and I felt like I was going to die, (especially after a bout with cancer) I’d think about all of those others who were much worse off than me, and then things didn’t look so bleak.

I despise whiners and complainers and doomers. I don’t see the world as black and white, there’s too much grey that just can’t be ignored. Yup, life goes up and down, like the markets you just have to ride it out, nothing stays the same.

If you work hard, stay focused and take control of your finances, you will survive and have a happy life. Those of us who live in a democratic society have absolutely no reason to complain. Here, we have the freedom to choose the life we want, you can choose to be stupid and poor or smart and rich or you can land your butt somewhere in the middle.

Have a great weekend y’all!

#67 common sense on 09.04.15 at 9:30 pm

Smoking Man…not trying to brown nose it here but you hit it out of the park….

Multiple Income Streams.

And ya, if I was on this blog earlier, I would have shorted the CDN dollar too…

I have to wash now…

#68 Leo Trollstoy on 09.04.15 at 9:37 pm

Garth is spot on.

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

The rich get richer.

Always.

#69 For those about to flop... on 09.04.15 at 9:40 pm

The comments section is a lot of things to a lot of people.
There is no wrong or right way to go about it,feel free to tell me what’s on your mind .
I don’t think we need to have a competition to see who had it hardest growing up and lecturing each other how to live our lives though.

#70 Smoking Man on 09.04.15 at 9:40 pm

#64 BG on 09.04.15 at 9:17 pm
#50 Smoking Man

How come you haven’t written you own automated trading system yet?

Is it because it is of no use to a retail investor?
Or maybe you prefer trading with your guts?

Just curious.
…..

I have, its shit….not fast enough, its hardware and placement of server’s.

I trade yearly trends…timing is everything, so ya, gut feel and wait for pocket aces…

You have No idea how many hours a day researching I put in..

That involves peeling bullshit..

You must be a bonified tin foil conspiracy theorists to trade the way I do and succeed.

Yet machine says, get a degree, and come serve me.

Dont be a conspiracy theorist.

#71 charles on 09.04.15 at 9:50 pm

The silver spoon socialists like Hurtig and Rea were called out by Watkins for what they were. Remember Hurtigs thousand dollar suits, Rea Days, and his war on the public service, setting the table for Harper mentor Wm. Davis. We still have to deal with trash like Calandra and Del Mastro and Baird from that period. You don’t make the big leagues speaking truth to power.

#72 Leo Trollstoy on 09.04.15 at 9:51 pm

#30 vicboy on 09.04.15 at 8:01 pm

Awesome advice. Kudos to you!

#73 Estrella on 09.04.15 at 9:51 pm

It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness, it was the epoch of belief, it was the epoch of incredulity, it was the season of Light, it was the season of Darkness, it was the spring of hope, it was the winter of despair, we had everything before us, we had nothing before us, we were all going direct to Heaven, we were all going direct the other way – in short, the period was so far like the present period, that some of its noisiest authorities insisted on its being received, for good or for evil, in the superlative degree of comparison only
Charles Dickens, 1859. (Aka Gartho remastered in todays post. Maybe go back to the classics millennials)

#74 Smoking Man on 09.04.15 at 9:52 pm

#67 common sense on 09.04.15 at 9:30 pm
Smoking Man…not trying to brown nose it here but you hit it out of the park….

Multiple Income Streams.

And ya, if I was on this blog earlier, I would have shorted the CDN dollar too…

I have to wash now…
….

Being a raging dyslex I know wash was ment to be watch. No apology required, in fact, I like it.

Fking rebals im thinking ….yah..

Your are correct. I cant stand ass kissing celebrity worshippers.

Feel free to insult me…I’ll like you more…

#75 Millmech on 09.04.15 at 10:03 pm

Life is like a roll of toilet paper,the closer you get to the end,the faster it goes.

#76 Retired Boomer - WI on 09.04.15 at 10:04 pm

Great post tonight Garth. Yes, agree with the theme.
Balanced life, Balanced Assets, too.

Remember, the term socialism, means different things to different people. Here in the states many think it is a synonym for communism. MANY here would reject the social order of Canada as being “too radically socialistic.”

I worked in your fins country long enough to find not a single Canadian who would trade our health care system (circa 2000) for yours, yet not a single American that would trade your tax formats for ours (circa 2000).

So much depends on one’s base of understanding the whole. Oh, just in case no one knows it, neither system has all the answers, and neither is likely to FIND all the right answers either.

Enjoy the US. Labor Day weekend.

-Drive Safe, come back next week!

#77 Illusory superiority on 09.04.15 at 10:06 pm

What’s more socialist a few writing grants or a lifetime pension after six years in Parliament?

I did not ask for the $26k, and donate it. — Garth

#78 crowdedelevatorfartz on 09.04.15 at 10:06 pm

@#49 Linda

You bought your house the same year as the rooskis almost nuked the world?
Now THATS optimism!

#79 Smoking Man on 09.04.15 at 10:07 pm

#63 G on 09.04.15 at 9:14 pm
To #40 H,
I’m also 44, graduated engineering into a recession and finding work was hard.
Now own my own firm and 1%, employ others and give back mightily to charity in time and $.
To young people: work your a$$ off for a long period of time and you will be fine.
Life is hard, ’twas ever thus.
If success is important to you, you’ll find a way; if not, you’ll find an excuse.
…..

The trick, do what you love doing, put 20 hours a day into it…

Then its not work, its having fun…

The money finds you. You dont need to look for it.

#80 Estrella on 09.04.15 at 10:07 pm

Dawgs, I visited the Pompeii exhibit this week and learned that they routinely gave bread to the civilians in exchange for their vote. I do not mean as a bribe, it was done intentionally to increase the voting pool. I was left with the impression that they were on to something there.

I believe that something should be done to increase the number of votes. Canada would be better represented, and perhaps politicians more accountable. The question is how do we get more people out to vote. I feel it is my duty to vote as a citizen, and I routinely tell people that I vote (even if I don’t have a for “sure” likable candidate) in order to honour the soldiers who died so that I would have the right to vote. I think to not vote, and to claim disengagement in the system is to show disrespect to all those who sacrificed for our freedom.

Remember that when you get out and vote. Maybe they will start giving out bread too……;)

#81 Llewelyn on 09.04.15 at 10:10 pm

I am sure that it will come as no surprise to you that when I was 22 I attended several meetings arranged by Jim Laxer to discuss the development of a position paper related to the benefits of nationalizing a number of resource based corporations. I was very interested in evaluating alternative ways of funding our representative governments since the taxation of income seemed to be pitting the haves against the havenots and creating resentment.

The document that became known as the ‘waffle manifesto’ still has some relevance in 2015. My favourite clause was the following:

“American corporate capitalism is the dominant factor shaping Canadian society. In Canada, American economic control operates throughout the formidable medium of the multi-national corporation. The Canadian corporate elite has opted for a junior partnership with these American enterprises. Canada has been reduced to a resource base and consumer market within the American Empire.”

I found your reference to Mel Hurtig interesting because I do not recall his involvement in what evolved into the Waffle Movement within the NDP. What I do recall is that Mel Hurtig was a key player in the Committee for an Independent Canada and I remember him handing out red stickers to that effect when he visited Toronto from Alberta in 1970.

There was an interesting crossover when Mel Watkins, a founding member of the ‘waffle’ movement and Walter Gordon, a founding member of the Committee for an Independent Canada, collaborated on a book entitled Gordon to Watkins to You in 1970. I read that book so many times it actually fell apart.

I still feel very strongly that allowing multinational companies to purchase our ‘common wealth’ and forcing our governments to rely almost exclusively on taxation was not in the best interests of Canada as a nation. Several generations did very well but we seem destined to play second fiddle to our neighbour from here on in. I cannot help but think we sold out too cheap!!

Just my personal view, no name calling is necessary at this time.

#82 young & foolish on 09.04.15 at 10:18 pm

” … we live in a time when extreme thought is fashionable. ”

This country is fantastic, and gave my family every opportunity to build a decent life with dignity. We are forever grateful and never forget our good fortune.

Garth’s advice of measure, temperance, and humility reminds me of my grandfather (soldier in 2 world wars, and an ardent promoter of a tolerant and balanced life).

#83 Smoking Man on 09.04.15 at 10:20 pm

#74 Estrella on 09.04.15 at 10:07 pm
Dawgs, I visited the Pompeii exhibit this week and learned that they routinely gave bread to the civilians in exchange for their vote. I do not mean as a bribe, it was done intentionally to increase the voting pool. I was left with the impression than sddwdsßswwqswsw they were on to something there.

I believe that something should be done to increase the number of votes. Canada would be better represented, and perhaps politicians more accountable. The question is how do we get more people out to vote. I feel it is my duty to vote as a citizen, and I routinely tell people that I vote (even if I don’t have a for “sure” likable candidate) in order to honour the soldiers who died so that I would have the right to vote. I think to not vote, and to claim disengagement in the system is to show disrespect to all those who sacrificed for our freedom.

Remember that when you gdewet out and vote.
………
In todays world

Voting is giving someone permission to sell your future labour, your kids future labour, in ontario your great grand kids future labour that are not even born yet.

The transaction instrument is called…

Bonds..

#84 BobC on 09.04.15 at 10:22 pm

#25 Nick

Relax

http://www.omgfacts.com/news/10333/The-entire-world-population-could-fit-in-the-state-of-Texas-and-it-d-only-have-the-population-density-of-New-York-City-ab630-1

#85 Buystander on 09.04.15 at 10:24 pm

To address Young and Foolish’s concerns: In my opinion, spreading Muslim ideas around the world is a weapon ISIS is using by forcing people out of Syria (not that every Syrian is Muslim). What better way to influence the rest of the world with their religious beliefs than forcing them to go to more democratic and free societies in the hopes that they try to criticize and change others’ ways of living and believing.

What a scummy comment. — Garth

#86 Tony on 09.04.15 at 10:27 pm

Commandment #12

Don’t lose the competitive spirit. My generation kids kicked pinball machines right through the wall. Think back in time because you might never see that again. I grew up in sports and through bowling found out at a very young age I could earn a living playing in pinball tournaments mostly in Las Vegas, Chicago, Pittsburgh and New York.

#87 mexican on 09.04.15 at 10:36 pm

Hey Garth, do you enjoy being a cheerleader for corporations? Just as an example, big oil milked oil from the middle east for decades, paying basically no tax to locals, and then selling gasoline dearly in the West. I suppose you are fine with that kind of storyline.

See

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

Yeah, all my fault. Maybe you should concentrate on making your own life exemplary. — Garth

#88 Smoking Man on 09.04.15 at 10:36 pm

#81 Llewelyn on 09.04.15 at 10:10 pm
I am sure that it will come as no surprise to you that when I was 22 I attended several meetings arranged by Jim Laxer to discuss the development of a position paper related to the benefits of nationalizing a number of resource based corporations. I was very interested in evaluating alternative ways of funding our representative governments since the taxation of income seemed to be pitting the haves against the havenots and creating resentment.

The document that became known as the ‘waffle manifesto’ still has some relevance in 2015. My favourite clause was the following:

“American corporate capitalism is the dominant factor shaping Canadian society. In Canada, American economic control operates throughout the formidable medium of the multi-national corporation. The Canadian corporate elite has opted for a junior partnership with these American enterprises. Canada has been reduced to a resource base and consumer market within the American Empire.”

I found your reference to Mel Hurtig interesting because I do not recall his involvement in what evolved into the Waffle Movement within the NDP. What I do recall is that Mel Hurtig was a key player in the Committee for an Independent Canada and I remember him handing out red stickers to that effect when he visited Toronto from Alberta in 1970.

There was an interesting crossover when Mel Watkins, a founding member of the ‘waffle’ movement and Walter Gordon, a founding member of the Committee for an Independent Canada, collaborated on a book entitled Gordon to Watkins to You in 1970. I read that book so many times it actually fell apart.

I still feel very strongly that allowing multinational companies to purchase our ‘common wealth’ and forcing our governments to rely almost exclusively on taxation was not in the best interests of Canada as a nation. Several generations did very well but we seem destined to play second fiddle to our neighbour from here on in. I cannot help but think we sold out too cheap!!

Just my personal view, no name calling is necessary at this time.
….

Just wait till the Trans pastfic partnership or something like that, slightly buzzed at the moment makes you drop to your knees.

Not only will this beast make you choke, it will force you to undo the belt…and un zipp it too.

The machine is trully a demented thing…

Lucky for you humans, four Nectonites are here to save you..

And I’m the Commander..Why I got that job, no idea..

#89 Shawn on 09.04.15 at 10:39 pm

Life Expectancy

#49 Linda on 09.04.15 at 8:45 pm
Life expectancy as per StatsCan for males born between 1960 to 1962 – 68 years. Life expectancy for males born between 2000 to 2002 – 77 years. For females, the 1960 to 1962 female has a life expectancy of 74 years; the 2000 to 2002 female has a life expectancy of 82 years. The average life expectancy for Canadians as of 2012 is 81.24 years as per the mighty Google,

*************************************
Your figures for life expectancy for males 6
’60 to ’62 is clearly too low. Give a link so that we may see how you misinterpreted the data which you surely did.

There is no way the average today could be 81.24 if what you claim were true as their are too many boomers for whom you claim far lower life expectancy.

In summary, you are clearly dead wrong.

#90 Nora Lenderby on 09.04.15 at 10:43 pm

#80 Estrella on 09.04.15 at 10:07 pm
Dawgs, I visited the Pompeii exhibit this week and learned that they routinely gave bread to the civilians in exchange for their vote. I do not mean as a bribe, it was done intentionally to increase the voting pool…

You don’t have to go so far back as Pompeii. In Canada’s former times there was strong drink available for free at the hustings (if you voted for the candidate that brought the flagon, and it was an open vote).

Of course, there were also disgraceful, riotous behaviours, with many dangerous and disgusting scenes caused by wicked immigrants brought in by the cartload. Decent people were scandalized :-)

#91 Nora Lenderby on 09.04.15 at 10:45 pm

Interesting pov about the recession:

Don’t call it a technical recession, I’ve been there for years.

#92 nonpfd on 09.04.15 at 10:50 pm

For the guy asking abt the preferreds yestaday…..

http://www.theglobeandmail.com/globe-investor/investor-education/why-you-cant-trust-the-yields-on-preferred-etfs/article26231003/

#93 kommykim on 09.04.15 at 10:56 pm

To all the right wingers on this blog:
Enjoy your Union inspired long weekend!
You’re welcome.

#94 Nora Lenderby on 09.04.15 at 10:56 pm

In short, we live in a time when extreme thought is fashionable.

Extreme thought has been fashionable throughout the last 50 years, in my experience. So has extreme action.

Actually, I really don’t want to be 20 again. I was a half-wit some of the time, and the other half of the time I was a know it all of limited vision.

I’m improving. I’m aiming to be perfect just before I die…

#95 Mr.Hulot on 09.04.15 at 11:06 pm

I say we accept every refugee that’s prepared to buy a condo to keep our real estate Ponzi scheme going

#96 Dino Flintstone on 09.04.15 at 11:07 pm

Never bet against America. -Garth

Gartho, “never” is a long time….just ask the dinosaurs….

#97 Freedom First on 09.04.15 at 11:09 pm

I have enjoyed living a positive healthy Freedom First lifestyle for decades and plan on continuing to do so for several more decades. Live with a clear conscience, enjoy every day, and walk away from all negative unhealthy living emotional tampon sad sacks. Life is too short to let any of their #hit slop over onto me. I help where I can, but it is like some of the comments on this Blog, you can’t help people who’s only reply to help is “I know I know I know”, or, “but but but”. We all live in the same world. Keep it simple. Always do the next right thing. I too have been called a Pollyanna Garth. Consider that a compliment. I do.

#98 Mf on 09.04.15 at 11:22 pm

#62 young & foolish on 09.04.15 at 9:12 pm

Or a terror attack. It is a legitimate matter of national security. Like I said yesterday, I really hope there is some government body or organization that looks into them individually so that we don’t import extremism. The area is rife with it. (Just take a look at what’s happening in Europe with massive mid east immigration).

The idiots in the left will continue to blame “ourselves” for it though. They are a bunch of Neville Chamberlains.

Mf

#99 kommykim on 09.04.15 at 11:30 pm

RE: #84 BobC on 09.04.15 at 10:22 pm

#25 Nick

Relax

Freak out!

There was 1.15 acres of arable land per person, in 2006, world-wide (i.e. 7.68 billion acres / 6.68 billion people).
By 2038, due to population growth, there may be only 0.59 acres of arable land per person, world-wide (i.e. 7.68 billion acres / 13 billion people).

#100 Richard Hertz on 09.04.15 at 11:32 pm

Garth, I bet you didn’t graduate university with something in the way of two years’ salary in student debts, did you? Like the way everybody born after 1973 or so has… I wonder if you’d been able to start a company at 22 years old if you had student loan repayments of 500-1000 bucks a month to make?

#101 DON on 09.04.15 at 11:34 pm

#8 Trojan House on 09.04.15 at 7:20 pm

Until we realize this and learn from history we are doomed to repeat it.

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

Collectively we all need to understand our current path based on the past. Perhaps a ‘book for dummies’ to start with or a ‘what you need to know’ course in Highschool/University.

The internet is a medium for change however, social media use needs to evolve to understanding one’s surroundings (immediate and global).

I may have a better chance of winning the lottery.

#102 omg the original on 09.04.15 at 11:35 pm

The Tape for Two Cities

Recent stats for Victoria and Saskatoon illustrate my views of how prices react in Canadian RE (or likely RE anywhere).

Prices ratchet-up rapidly with very little change in fundamentals.

But holy crap, prices only go down if the f’in world is collapsing.

Take Victoria, a moribund market for the last 5 years, which has had a nice little pop between 6-8% Y/Y. Not much has changed in Victoria, but people are afraid of being left behind and so pile in to an already grossly inflated market. They bid prices up, afraid that next month prices will be 5% higher.

The bottom line is that prices can move up significantly, very fast.

Then take S’tooner, pleasant little frozen prairie town (my home town). As GT pointed out yesterday, sales are down significantly, listing up a bunch, but prices…….prices have not budged.

People would rather sell their granny into slavery before lowering the sale price of their house.

Its all human nature…..fear of being left behind drives us to do silly things to get into the market. But desire to avoid a loss at any cost causes us to hang onto an asset that is long past due date.

We are all guilty of this, its just human nature.

Because of the stickiness of house prices, barring any major catalyst like the US had during the GFC, the great unwinding of the Canadian housing market will be a slow grind experience and mainly in real terms.

So slow if we are lucky, most people will not even notice it.

#103 Kurt on 09.04.15 at 11:36 pm

“Nobody wins when corporations are taxed too much or successful people punished for it.”

I’m calling you out on this one Garth: Based on your many posts, I say you believe that any amount of tax on a corporation is “too much”, and “punishment” is returning some of the proceeds that result from being part of a large, complex and interdependent society where income is more the result of chance than a reflection of ones effort or contribution. Justify your position, or show me where I’m wrong.

The top 1% of Canadians by income pay 10% of all tax. The top 20% of earners pay about 80% of all tax. Seems like enough of a load. What do you contribute? — Garth

#104 Network Admin on 09.04.15 at 11:37 pm

According to this
http://www.answers.com/Q/When_did_Lake_Erie_catch_fire
, Lake Erie never caught fire. The actual fire occured on the Cuyahoga River (which feeds into Lake Erie).

Of course. But who’s heard of Cuyahoga? — Garth

#105 Mark on 09.04.15 at 11:50 pm

“The rich get richer.

Always.

Not true. There are various times throughout history where the rich become so married to certain paradigms that they refuse to accept that the world is different.

Most of the contemporary ‘rich’ have rejected gold and precious metals, in favour of investments in fiat money and the fiat money financial ‘system’. Just as in various times past, this has proven to be the folly of the rich. Additionally, the rich tend to become very un-diversified as time goes on — piling into the long-term winners. The tendency is for the rich to suffer disproportionately during a paradigm change.

As it stands today, the poor are getting wealthier as the rich lose wealth to inflation, to compression in P/E multiples for equity investments. The poor, in contrast, have never before in history enjoyed such a broad cornucopia of government benefits.

One of the most ironic things that emerged out of the US housing collapse was that the “poor” actually became the relative rich in society. The middle class and even some of the rich found themselves in negative equity. For the poor, since they didn’t have much in terms of assets or debt, they had relatively little to lose. Yes, mere children and homeless bums on the street became America’s relative ‘rich’ simply by having a net worth close to zero, and access to an accelerating smorgasbord of government handouts.

In light of what happened in the USA, I can see why the NDP’s poll numbers are surging so much, especially as house prices continue to fall and many families face the spectre of negative equity. The NDP caters to those types, and there’s certain to be a lot more of them in the coming months and years as the housing-led economy continues to decelerate.

#106 DON on 09.04.15 at 11:51 pm

#5 Basil Fawlty on 09.04.15 at 7:16 pm

Is it true that real wages continue to fall? Is it true that today both parents need to work, which was not true in the 50’s? What is a reasonable level of taxation , for corporations and the stinky rich? Do they need more offshore tax havens, or less? From a natural resource perspective have we used up the low hanging fruit, or is it ripe for the picking? Will we ever be able to have an honest discussion of why all the refugees are running to Europe? Who finances ISIS? Al Quaeda?
Inquiring minds wanna know

******************************
Apparently these questions are out of bounds or just not given the appropriate attention each deserves.

#107 westcdn on 09.05.15 at 12:06 am

nora 94

I like you. Tough to find a gal who likes you.

#108 Nosty, etc. on 09.05.15 at 12:08 am

#58 Smoking Man on 09.04.15 at 9:03 pm — “The whole secret to weath creation. Three words. Multiple Income Streams.”

As Freedom First (and you) say, multiple income streams to outlive money. It’s not hard — invest wisely!

#45 Joe2.0 on 09.04.15 at 8:29 pm — “Leaving the gold standard is what started this paper mess.”

Sure would have been interesting if that system had remained unchanged.
*
49 min. clip How Obama and H. Clinton invented ISIS, and Obama warns Russia not to mess around with ISIS; Agenda 2030 Controlled by corporate interests (NWO), while humanity is enslaved.

#109 Sick of leftist pukes on 09.05.15 at 12:41 am

#103 Kurt on 09.04.15 at 11:36 pm
“Nobody wins when corporations are taxed too much or successful people punished for it.”

I’m calling you out on this one Garth: Based on your many posts, I say you believe that any amount of tax on a corporation is “too much”, and “punishment” is returning some of the proceeds that result from being part of a large, complex and interdependent society where income is more the result of chance than a reflection of ones effort or contribution. Justify your position, or show me where I’m wrong.

The top 1% of Canadians by income pay 10% of all tax. The top 20% of earners pay about 80% of all tax. Seems like enough of a load. What do you contribute? — Garth

Income is a result of chance?
So me working 80-100 hours a week is chance? And for my efforts I get to pay 80k in taxes so idiots like you can vote in the creep that will steal the most. Maybe I should just go on welfare and join the underground economy right? Why should I support a system that bleeds me dry of my efforts just to demand more and slit the wrists of the companies I work for because some lazy puke figures corporations are evil and deserve to be bled dry.
When economic times are tough is NOT the time to raise corporate rates. They should be LOWERed as an incentive to keep capital moving and stop the economy from shrinking along with the jobs that get wiped out as well.

#110 Kurt on 09.05.15 at 12:46 am

“The top 1% of Canadians by income pay 10% of all tax. The top 20% of earners pay about 80% of all tax. Seems like enough of a load. What do you contribute? — Garth”

My family was in the top 1% for a while, then I lost my cushy job. My taxes bought and still buy civil society. In the process of finding my new, much less cushy job, I learned that:

– CPP and EI are nothing of the sort. They are highly regressive payroll taxes.
– The role of good fortune is never acknowledged by the “successful” – be it being born to the right parents, graduating from university at the right time, having good health, having the right connections, or, as in the case of my current job, just being outrageously lucky.

I see nothing wrong with a group that makes 10% of the income paying 10% of the total tax burden – but they don’t. They make 14% of the income but pay 10% of the tax. And that income would be impossible without the rest of us beavering away. I see nothing wrong with jacking the rates on the top 1%. I’ll turn my question back on you. You specialize in investment advice – helping put money where it will make money. What is the contribution of your clients? Are they very wise about where to put their money? No, otherwise they wouldn’t need you. Are they working particularly hard to make money using their money? No, not really. For whatever reason, they have money, lots of it, and they are getting rewarded simply for having it. What is their contribution?

I didn’t ask *your* contribution, because I think you give back big time with this blog. Convincing people to not buy more house than they can really afford is a moral positive. But you still need to grow up and acknowledge how astoundingly lucky you have been.

The harder I work the luckier I get. BTW the people I help with their finances are almost all working families, not idle millionaires. — Garth

#111 Crash Calaway on 09.05.15 at 12:59 am

Oh, I remember quite well the 25 miles I had to walk everyday… and I was home schooled!

#112 millenial1982 on 09.05.15 at 12:59 am

Cool blog post tonight and a good one on perspective. Almost feel like calling you uncle Garth. Your repeated phrase “never bet against America” should be a blog post one day. If I was sitting with you over a scotch I’d be rapid firing the questions on that one digging deeper into the wisdom on that but I have a gut feeling of the answers…

#113 Squish on 09.05.15 at 1:09 am

#13 Mouldy Millenial on 09.04.15 at 7:29 pm
“Hey Garth,

I’m not sure I agree with you that rich foreigners aren’t driving up the cost of housing in Vancouver. It may not be the main driver, but it is certainly one of the top three contributing factors. I have worked in construction in both Vancouver and Toronto, and I can see the difference in what drives the housing sectors. In Toronto I agree with you. Over-indebtedness is by far the main driver, but in the core of Vancouver, I see it differently, and with my own eyes. Not only in my own neighbourhood, but in all the neighbourhoods I work in. Chinese investors, chinese builders, and chinese crews in SFH residential construction, again, in the core of Vancouver.”

——
This is such a painful read, I almost don’t want to touch it. But seriously, do you hear yourself? Chinese crews? Chinese builders? You are talking about people who live and work in Canada, people who are working jobs in actual construction, for Pete’s sake. Whether recent immigrants or people whose families came to Canada far earlier than my English and Irish ancestors did, singling out these Canadians because they or their kin came from China at some point is NOT part of the discussion on foreign ownership and illegal activity that may or may not be impacting Vancouver’s housing market – it is straight up racism.

#114 John Prine on 09.05.15 at 1:26 am

Mel Hurtig
David Suzuki
Margaret Attwood
Cast of this hour has 22 minutes
CBC news types

ALL have gorged at the taxpayer trough

Don’t forget Harper and all his cronies…G8 legacy Infrastructure Fund and soooo much more.

#115 Mr. White on 09.05.15 at 1:38 am

They don’t get it Garth. The same lack of historical perspective is causing these folks to think that crime goes down in big cities if you quit hassling people most likely to commit crime.

They will insist on making the same boneheaded mistakes we made in the 70’s without glancing back a bit to see what they could have learned from the actions taken subsequently.

I went through my first real estate bust in the 80’s in Edmonton. I had 25% into my house and a 75% mortgage. I was paying more than 19% on my business line of credit while inflation soared and the economy fell apart because of Trudeau’s meddling in markets and in energy from Alberta.

So when people tell me that real estate never goes down I just laugh. Business is cyclical, markets are cyclical and real estate is just another business and another market.

I am dying to see what happens when we all realize that inflation has been rampant, money and credit have been confused again, and interest rates return to norms. Those million dollar mortgages on what will then be half million dollar homes are going to look pretty nasty.

My house was sold a few years ago while the market was going up. It sits in an investment account similar to what you advocate. It’s been going up in value at a rate of about 10% per year for the past few years. Now I rent a 1.2 million market value house for a bit over 2 grand a month. I love it when real estate lovers subsidise my lifestyle. I get to live well for, well chicken feed.

If I ever buy again it will be when market prices are less than half what they are now, and then I will think long and hard about having a mortgage of anytime.

Thanks for this blog.

#116 DON on 09.05.15 at 2:09 am

#51 Smoking Man on 09.04.15 at 8:51 pm

IT Management will be stars for a short time..then boom. I know whats coming, ive seen it over and over.

*********************
Lack off quality and standards…more expensive change requests, lack of ability to respond to changes?

#117 James GoodThang on 09.05.15 at 2:24 am

“So every stock market dip, for example, means investments are going to zero. Every skirmish will lead to war. Every drought is the end of food.”

Apply straight line logic and we get ” Just because we have an idiot named Obama as president south of the border 5 billion people won’t continue to burn, starve, fight, and be turned into refugees”.

And after we get rid of that idiot the world might start being less violent in the absence of an insane narcissist as leader of the free world.

#118 jane 24 on 09.05.15 at 2:38 am

Countries run the way that voters want them too. People age 18 to 40 do not vote so game over for them. If younger folk want the game to run their way, then vote. Easy.

#119 Mike T. on 09.05.15 at 3:11 am

I think this week I heard Mr. Mulcair say he wants 40 million to fight violence

I can’t be the only one that sees the problem(?) with that right

the war on violence seems like a pretty misguided concept

anyways, once again all the weird events are just designed to draw attention away from the sun

the challenge here is to choose rapport instead of rivalry

are any of the PM candidates choosing rapport?

#120 liquidincalgary on 09.05.15 at 3:20 am

Snowboid on 09.04.15 at 7:59 pm

“…having to walk miles to and from school, uphill in both directions…”

You forgot: “no shoes and seven feet of snow”

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

also forgotten: “…in July!”

#121 Bigfoot on 09.05.15 at 4:49 am

I find all the talk about making money with financial speculation and no work sickening.

And to top it off claims that raising the minimum wage is a bad thing.

I suppose you think you know better than 6 Nobel laureates. See:

http://www.epi.org/minimum-wage-statement/

#122 Vangrrl on 09.05.15 at 5:05 am

I’ve been living in Europe for 9 months, and besides working and travelling a bit have been volunteering with Red Cross Refugee Family Support Services. We visit ‘detention’ centres and give phone calls to detainees or take requests for reading materials, small necessities, etc.
I can tell you why all these refugees want to go to Germany and nations like Canada. They envy us. They know we won the lottery and they want to live in countries like Canada. An Iranian detainee singled me out as we were leaving detention once and said, ‘You’re from Canada? I have relatives in Montreal. It’s a very good country. I want to go there one day.’ The other volunteers were standing around listening and I just smiled and said, ‘I hope you get there one day’.
It’s humbling, living in this part of the world right now.
No matter how bad we think we have it, it’s actually pretty good.
Happy Long weekend!

#123 David McDonald on 09.05.15 at 8:13 am

#52 Drill Baby Drill on 09.04.15 at 8:56 pm

Yes, the NEP was a money grab by eastern Canada and it caused considerable disruption and anger in Alberta. But that wrong was righted by Mulroney in the free trade agreement. There can be no Canadian price for Alberta oil. Alberta voters got their way!

Our old fashioned electoral system responds to grass roots anger and works well when there are two parties. But today the vote is split and it is possible to game the system. Maybe we need a two round vote in each riding. If the first round doesn’t generate a majority then a second round vote between the top two is held a couple weeks later.

#124 Millennial Realist on 09.05.15 at 8:15 am

Garth, while you are correct that recency bias is a factor, especially with over 20 years of a crazy real estate ‘up market’, it’s far from the whole story.

Things ARE different now, in profound ways, from when you boomers came to adulthood. We are living the 1981 recession (which I agree, was a tough one) every day of our lives, and it’s only getting worse for those younger.

In your blog just this week, you pointed how the percentage of young adults living at home has increased from around 20% to over 40% in thirty five years. You are intelligent, so you must not possibly be thinking that is some kind of recent character flaw – this is definitely a sign of increasing economic difficulties facing the young.

Wages are stagnating, opportunities growing scarcer, outsourcing, tax law changes and temporary foreign workers skew our markets which increasingly benefit the wealthy and externalize costs to the environment and general public.

The trend lines of these larger, systemic changes are unmistakeable.

Your comments seem to utterly ignore the scholarship of people like Piketty. Is it that you have not gotten around to reading him, or something darker, like wilful ignorance?

Things ARE different Garth, in profound ways. Get close to some young people and listen more to them.

The “extremism” you allude to is nothing more than a cunning talking point by the conservative right. The only real extremism we have lived through is the extreme reallocation of wealth to the few.

How quaint to call “extreme” those who would simply like a return to true social conservatism (conserving the social and economic fabric of us all). Like what the USA had under Eisenhower – reasonable higher taxes on the wealthy that spread opportunities everywhere (and still kept the wealthy happy, btw)

Was Ike an extremist communist in your thinking, Garth?

See how extreme and out of touch your rhetoric really is?

The top marginal tax rate in the US from 1954 to 1963 was 91%. Is that what you are advocating? — Garth

#125 curiosity on 09.05.15 at 8:16 am

“at 22, Dorothy and I started a company and hired eight people after selling every asset we owned.”

Garth, I wonder what kind of asset Dorothy and you could own at 22, that could kick-start a business with 8 employees?

How could you accumulate that asset by 22?

The details are always the most interesting part.

#126 Future Expatiate on 09.05.15 at 8:24 am

Psssst….. your current system IS socialism.

Don’t tell anyone. They’d never understand.

#127 Nora Lenderby on 09.05.15 at 8:30 am

#122 Vangrrl on 09.05.15 at 5:05 am
I’ve been living in Europe for 9 months, and besides working and travelling a bit have been volunteering with Red Cross Refugee Family Support Services. We visit ‘detention’ centres and give phone calls to detainees or take requests for reading materials, small necessities, etc.

Thanks for this. I also heard today that a well-off Ottawa businessman privately sponsored a Syrian family 3 years ago. They have just gone public. The family had been waiting in a refugee camp for 7 years before that.

And Pat Carney, although I might have disagreed with you in the past, you are admirable for your position on refugees

People can be amazing.

#128 Nora Lenderby on 09.05.15 at 8:36 am

#107 westcdn on 09.05.15 at 12:06 am
nora 94
I like you. Tough to find a gal who likes you.

Who wouldn’t like a guy that reads Mr. T. daily?

Gentlemen prefer blondes

#129 Neether A. Borrower on 09.05.15 at 9:06 am

Hi Nora. Um, I wanna ask a personal question.

Are you single?

Think about what a couple we would be! We would make beautiful platitudes together!

#130 Prairieboy43 on 09.05.15 at 9:14 am

According to my FitBit. Walking average 27000 steps daily for last year. Equals approx 15-16 miles. Yes 25 miles a day, achievable. Congrats Boomers! This mystery is true. Next.

#131 David C. on 09.05.15 at 9:27 am

#64 BG on 09.04.15 at 9:17 pm

#50 Smoking Man

How come you haven’t written you own automated trading system yet?

Is it because it is of no use to a retail investor?
Or maybe you prefer trading with your guts?

Just curious.
—————
He also mentions that he is a trillionaire. People here like fairy tales.

#132 Llewelyn on 09.05.15 at 9:42 am

Don’t you just love how the 1.0% brag about the proportion of total taxes they contribute.

Why we should hold a parade in their honour to show our gratitude.

I think we all realize why the 1.0% ‘contribute’ a greater share of taxation revenues. They own or control a much greater share of all revenue generating assets. Wealth generates more wealth and surprise surprise the name of the game is ‘I like it like that’.

Capitalism benefits those with capital to invest and the essence of this blog is that the balanced investment of capital will create wealth.

Great advice but the belief that every Canadian citizen has the means to follow this advice is rather naïve. Canadians have not assumed debt solely because interest rates are low. Debt reflects that surplus investment capital may not be available to all.

I don’t mean to preach but suggesting that hard work and intelligent choices is a sure route to wealth in 2015 is rationalization of the highest order.

Refusing to acknowledge that the playing field has become rigged in favour of the 1.0% is just what their spin-doctors ordered.

I see nobody on this blog of higher income ‘bragging’ about their tax contribution. Such a verb is beneath you. As for people assuming excessive debt, the reason is usually simple – they’re consuming beyond their means. I have consistently tried to moderate this destructive behaviour. — Garth

#133 Smoking Man on 09.05.15 at 9:45 am

#108 Nosty, etc. on 09.05.15 at 12:08 am
#58 Smoking Man on 09.04.15 at 9:03 pm — “The whole secret to weath creation. Three words. Multiple Income Streams.”

As Freedom First (and you) say, multiple income streams to outlive money. It’s not hard — invest wisely!

#45 Joe2.0 on 09.04.15 at 8:29 pm — “Leaving the gold standard is what started this paper mess.”

Sure would have been interesting if that system had remained unchanged.
*
49 min. clip How Obama and H. Clinton invented ISIS, and Obama warns Russia not to mess around with ISIS; Agenda 2030 Controlled by corporate interests (NWO), while humanity is enslaved.
……..

Great links, the whittle blower clip is amazing…

However like I always say, you can’t beat the machine.
They have every corner covered.

Phyops and all…..

The only way to stop whats coming by 2030, Men must learn to Be Men again.

Good luck with that one.

#134 Godth on 09.05.15 at 10:22 am

Behind ISIS – the “Islamic State”
http://www.nafeezahmed.com/2014/10/behind-isis-islamic-state.html

Ex-intel officials: Pentagon report proves US complicity in ISIS
https://medium.com/insurge-intelligence/ex-intel-officials-pentagon-report-proves-us-complicity-in-isis-fabef96e20da

Not an ISIS blog. Enough. — Garth

#135 pete on 09.05.15 at 10:27 am

“The harder I work the luckier I get.”

That isn’t the first time I heard that from those who succeeded. No doubt you worked hard for your success.

#136 Llewelyn on 09.05.15 at 11:05 am

Yikes I didn’t mean to hit that nerve.

I was merely responding to your earlier observation.

“The top 1% of Canadians by income pay 10% of all tax. The top 20% of earners pay about 80% of all tax. Seems like enough of a load. What do you contribute?”

You made be feel bad for not contributing more so I resorted to the refuge of the less fortunate. Criticizing the wealthy. Your zinger back certainly harshened my buzz.

#137 Millennial Realist on 09.05.15 at 11:09 am

The top marginal tax rate in the US from 1954 to 1963 was 91%. Is that what you are advocating? — Garth

—————-

Why not, at least something much closer to that?

After WWII we had a much more resilient middle class, families supported well on even one income.

So Garth, fess up, then you really DO think Eisenhower Republicans and the like were extremist communists?

WOW.

Does it not make you sit in stunned silence to realize what an unbelievably extreme position that is to take?

Eisenhower would be slapping himself in the head, to hear just how far the incredibly extreme, entitled ideology of ‘conservatives’ today has gone.

Eisenhower was a nation builder.

Republicans and most cons in Canada since him are society destroyers. Cutting off their noses to spite their faces, oblivious to the disasters they are fomenting for the future.

This is a perfect example of how the 1% and the .1% have skewed our economic discourse for the last three plus decades.

The burden of proof is on you, not me, to say how this makes sense.

Piketty and others, unfortunately, own you. There is no one, anywhere, trying to justify the wealth of the .1% who comes close to Piketty in terms of cogent, comprehensive analysis.

The rest of what you offer here, Garth, is eminently useful and helpful, and you should always be thanked for warning newbies of the hazards of a one asset strategy.

But your rationalizations for and promotion of wealth disparity put you clearly on the wrong side of history, most noticeably as written by smart, wealthy citizens of the past who knew much better than most people today the chaos that results when we go down this path.

We have already gone way too far down this path, and what lies ahead could be truly horrific.
Moving our tax rates back into that direction, not even at that level, would have marvellous positive effects on our society all over.

There would be no material affect, as there are not enough rich people for you to milk. Regardless, money is mobile and raising income taxes on the successful would see talent and capital move to other jurisdictions. Taxes sit where they do thanks to a global competition for brains and investment. Moan all you wish. Tax rates will not change radically under the NDP or anyone else. — Garth

#138 Drill Baby Drill on 09.05.15 at 11:50 am

“Lake Erie catches fire”
A similarily scary environmental event happened tome on Lake Erie. It was 1967 I was swimming at the beach beside the INCO plant in Port Colbourne Ontario. I was with the boy scouts and when I came out of the water I was covered in oily spots the size of quarters. The scout leader took a rag and wet it with gasoline in order to clean all of us off.

#139 debtified on 09.05.15 at 11:51 am

In the history of mankind there has always been those with more and those with less. The same history shows that some with more will continue to have more while others will lose some then have less. In the same token, some who have less will continue to have less (most will complain) while others will gain some then have more.

If wealth is redistributed equally it is inevitable that, sooner than later, more wealth will flow to some and others will have less.

I used to have a whole lot less.

I didn’t complain about it and I sure didn’t feel that the world was unfair to me. I made a decision to have more. I made a plan. I worked hard. Sometimes I got a little lucky, sometimes I didn’t. Like Garth said, the harder I worked, the luckier I got. To me, luck is simply an opportunity waiting to happen. It is up to me to always be pursuing opportunities for me to get lucky. I am sure that had I just sat around (and complain about my misfortunes), I would not have had much luck. When things got tough, I didn’t give up. I didn’t blame it to the unfair world and for what seemed to be my lack of luck. The closer I got to reaching my goal, the harder it seemed to reached it. But I kept at it.

Now I have more.

#140 Adam on 09.05.15 at 11:55 am

Garth – 32 year old successful sales mgr from BC – uni educated, 2 small kids. Wife at home. $180k annual. Living within or means or at least coming pretty close.

Life is good and I’ve read your blog for 5 years. This one hit home….your fashionable comment is accurate. I see it everyday and cringe without giving feedback. Work hard, keep a positive attitude, and diversify. Oh ya, and remember that none of us are that special.

It’s that simple.

Keep the insightful outlook coming nightly.

#141 debtified on 09.05.15 at 12:19 pm

Dear Millennial,

I heard that you have been feeling like the cards you have been dealt with in life are not entirely fair. I acknowledge that many of the difficulties you are having are valid. For example, and not limited to, you have a lot of student debt, lack of quality employment opportunites, high cost of housing and more online friends than real ones.

As someone from the generation just before you, believe me, I know those boomers are all spoiled brats. My generation has our own problems also but I won’t get into that. I don’t make it a habit to blame the cards I am dealt with for my misfortunes.

What I am trying to say is that every generation has its own set of challenges. It may seem unfair at first but just know this, the generations before you had to deal with big problems also.

The reality you have found yourself in is neither a reward nor a punishment. It is what it is. It is neither fair nor unfair.

You have a choice. Overcome or succumb. Like the generations before you some had chosen to overcome and you don’t hear them complaining in the comment section here. Others succumb and you hear a lot of them complaining, just like you, how bad they have had it.

I wish you all the best. The world is a beautiful place and it is up to you to find your proper place in it.

Sincerely,

Gen X

#142 kommykim on 09.05.15 at 12:29 pm

RE:#109 Sick of leftist pukes on 09.05.15 at 12:41 am
When economic times are tough is NOT the time to raise corporate rates. They should be LOWERed as an incentive to keep capital moving and stop the economy from shrinking along with the jobs that get wiped out as well.

So why did the Harpercrits lower corporate rates when times were good? Inept fiscal managers.

#143 debtified on 09.05.15 at 12:32 pm

Dear Millennial,

P.S. If it is consolation, you have one very important advantage that the generations before you don’t have as much anymore: TIME. You have more of it. It is the most important resource of all. Use it wisely.

Ditto

#144 Farm Wife on 09.05.15 at 12:35 pm

Rural folks have a saying that compliments Mr. Turners excellent post

“Nothing is ever served as hot as it’s cooked”

There was mention in one of the posts of making rural land into five acre plots for city folks to live the rural life. Out here it has been done to the extreme with mixed results. For the most part it goes like this …Giant house and shop..One ton dualy and expensive suv..at least two horses…numerous dogs…all the toys that go with the imagined country life style. Three years later…divorce followed by bank forced sale. These are the folks who think they can buy a lifestyle.

Next comes the back to the landers who are going to live off the grid or old timey..bottomless pits of needs ..who have to be babysat thru one winter and then they are gone.

Last but not least the ones that make it…have common sense…real handy at any job put to them… and for the most part self reliant…a valued addition to the community.

I wish some folk would clue into the fact that not all things in life can be had by buying ownership. Takes more the a dollar to make the world go round

#145 West Texas Funster on 09.05.15 at 12:37 pm

My ‘life work’ design is far simpler than most peoples. Many of my clients are in the film business. I was happy to hear my personal philosophy espoused out of the mouth of actor John Goodman ( the chubby husband in ‘Roseanne’) on the big screen when a script writer client used my famous line for John to explain himself in character.

I designed ‘The F-You resume’ as a young turk in the financial biz advising screen star clients and dating ballerina’s.

And that was what John said in the film …”You gotta have the F-You working for ya”.

It takes diversification to a whole new level. You need irons in every fire so that if one bad thing happens…then you’ll have any number of other things and skill sets that fall into place and never have to care when job loss, market crash, currency issues, recession, depression etc etc etc try to bite you in the arse.

Never become reliant on anything…cash and liquidity should be the cornerstone of your personal life. Never have a mortgage or debt you can’t pay off with a click. Have enough cash on hand to go on holiday for a year or two if the market turns down. Get skilled at something that takes you around the world.

In other words…you have the ability to tell the world to F-OFF at any time….and never have to take any crap from anyone…anytime. Trust me…you’ll love the feeling of standing on your own two feet and giving hard times a fat middle finger…pouring yourself another margarita and head to the pool.

Oh Yeah….always love a happy woman half your age. Yes..you can turn the clock back when you have no stress and plenty sex..

#146 marty mcfly on 09.05.15 at 12:38 pm

Garth I don’t know how you put up with these clowns

#147 Linda on 09.05.15 at 12:40 pm

#80 Shawn: type in ‘life expectancy Canada’ then click on the StatsCan link which will pop up – the tables are right there. If you think the data is incorrect, take it up with your government. Or console yourself with the thought that those who compiled the statistics clearly didn’t interpret the data correctly so the tables misrepresent the truth.

If your over the top reaction means you were born between 1960 to 1962, remember that the figures are averages. It doesn’t mean that you (presumably a male) will die at age 68, just means that on average a male born between 1960 to 1962 will die at age 68. Lots will die earlier, lots will die much later than that age. If the subject of dying upsets you, don’t ever read the obituary columns, because you’ll be noticing that quite a few of the obits will be for people your age or younger…..

#148 Retired Boomer - WI on 09.05.15 at 12:45 pm

“The top marginal tax rate in the U.S. from 1954 – 1963 was 91%. Is that what you’re advocating?”

It was also the BEST period of economic growth in the country (US).

Kennedy then reduced the top rate from 91% to 70%. Were the years following that “good” economically?

NOT so much as I recall.

Perhaps HIGH taxes on everybody is not such a terrible idea? Read history…

Reagan cut taxes debts increased. Clinton RAISED TAXES
(mostly on the wealthy) economy expanded, debts shrank. Coincidence?

Your opinion -based on history- is solicited.

#149 Linda on 09.05.15 at 12:45 pm

Correction – should be #89 Shawn, not #80. Typo….

#150 Retired business owner on 09.05.15 at 1:03 pm

I find it unbelievable, absolutely unbelievable how people want to tax those rich evil corporations.
No matter how many times you say it or how many examples you give they refuse to think.

Corporations don’t pay taxes – they collect them!

Let’s say you make and sell widgets. The government says they will now tax widget companies $1 for every widget sold.
What would you do? Right, raise your selling price $1. Who pays the tax, the corporation or the consumer who bought the widget.

The same smart people that’s overjoyed with the tax increase then creates a trade deal. Now the widget maker can’t raise his price and can’t compete so he goes out of business taking the jobs and tax base with it.

Grandma was right, “the only way to teach a liberal is to give then what they want.” To bad thinking people have to suffer along with them.

#151 Retired business owner on 09.05.15 at 1:13 pm

#147

When the top tax rate was 91% the list of tax write offs was endless. They started ending the allowed deductions as they lowered the rate.
Yes the wealthy then had to pay more of the tax load while LBJ started his “Great Society” that created the career welfare queens. Results? Taxes as compared to GDP stays around the same %. The wealthy started moving their money, wages started to go down and the big money pushed for trade deals. The % in poverty has stayed the same or gone up so what was gained?
Nothing but trickle up poverty as the middle class gets squeezed.
Garth says never bet against America. He should add never bet against the rich. Their rich because they’re smarter.

#152 JacqueShellacque on 09.05.15 at 1:41 pm

At 41, too old to be a millenial, too young to be a boomer. But just right for seeing both sides. Yes, in many ways boomers may have had it easier for certain things like buying a house or getting a job that had a pension rainbow at the end. But I’ll tell you millenials you’d be foolish to trade even a scintilla of the advantages you’ve gained by the last 20 years of technological and sociological change for any of those things that came easier to past generations. Boomers valued houses and permajobs because for the most part they either didn’t know better, or couldn’t get better. Millenials can both know better, which allows them to get better. It’s an exponential change in potential productivity, lifestyle, and knowledge. Houses and pensions got nothing on that.

#153 Retired Boomer - WI on 09.05.15 at 1:45 pm

#151 Retired Business Owner

Yes, you are right, the write-offs were much more generous when tax rate was 91%. So now with top rates at @42 with the med tax just added… “is that “too much”??

Why didn’t the 15% go to 18% and the 25% to 28% etc etc when the “Bush Tax Cuts” were repealed? I’ll never quite understand the tax rates, only that MY job ids to pay the lowest effective rate I legally CAN. Why that is all of our jobs isn’t it?

We also need to make idleness (for whatever reason) NOT pay as well as working does. Sorry, but if anyone has a better idea, we would all benefit from your knowledge.
Currently, in many placed being ‘idle’ does pay more (benefits of various form) in total than working does.

To me, that makes no sense

#154 BS on 09.05.15 at 2:00 pm

I say you believe that any amount of tax on a corporation is “too much”, and “punishment” is returning some of the proceeds that result from being part of a large, complex and interdependent society where income is more the result of chance than a reflection of ones effort or contribution.

Income is a result of chance? Where do people like this come from?

#155 Retired Boomer - WI on 09.05.15 at 2:02 pm

I don’t begrudge the “rich” their success. Depending on how one were to define the term I might fit that category.
That’s what working (whether owner, worker, or whatever) and saving, investing, and being mindful gets you.

I’ve seen too many definitions of it to be meaningful anymore.

All should pay a fare share to the support of the country.

The poorest ‘worker’ pays through payroll taxes, sales taxes etc a higher percentage of their thin income as do the ‘richer’ classes.

Yes, while it is also true that the ‘richest’ pay the highest % of income taxes.

When the government is looking for more tax money to spend, where are they likely to look for it? From the poor?
Silly, there isn’t much “there” to be had, but the RICH they look like the proverbial cow to be milked. Whether Corp. or individual does not matter that is where the money is.

Now, can we just demand they “spend less” ??

What a novel concept? Vote the spender out of power.

#156 BS on 09.05.15 at 2:02 pm

So why did the Harpercrits lower corporate rates when times were good?

Lower taxes is part of the reason there were good times. If taxes were higher we would have never come out of recession after 2008.

#157 BS on 09.05.15 at 2:09 pm

Moving our tax rates back into that direction, not even at that level, would have marvellous positive effects on our society all over.

Moving our tax rates higher will benefit nobody. Less jobs, less tax revenue, less opportunity for you. With less tax revenue social programs get cut and national debt goes parabolic.

If people put as much effort into their own career as they do complaining about others not being taxed enough they would find success.

#158 Retired Boomer - WI on 09.05.15 at 2:36 pm

In reviewing my tax returns income, and investment growth from 1971 until I retired in 2012 I noticed the greatest returns (growth and income combined) resulted when tax rates were relatively HIGHER, than they were when I retired.

Call it whatever you want to, and each case must be viewed on their own merits.

My mileage indicates during periods of higher rates helped my income & investment returns more so than periods of lower tax rates.

This IS the result for this US based taxpayer. Your mileage may vary.

#159 Leo Trollstoy on 09.05.15 at 2:40 pm

It seems like real estate prices and sales in Toronto and Vancouver are continuing their rise after taking a small breather.

Insanity knows no bounds.

And gold continues to languish. For the 4th year in a row.

#160 Texas Funster on 09.05.15 at 2:45 pm

“If people put as much effort into their own career as they do complaining about others not being taxed enough they would find success.”

Unfortuneatley Canadians have been pounded down by propagandists that hate individual success and that anyone who succeeds by working 90 hour weeks is a rotten shyster.

What works for Canada, according to the liberal propagandista’s, is a civil service elite and union grabbers looting entire ministries of any money that could have gone to social infrastructure.

#161 Retired business owner on 09.05.15 at 2:54 pm

#158
I remember when Clinton was elected. He had his retro active tax increase. Cost me a bundle. God how I hated him for that. Couldn’t stand to hear his voice! Turned out my best earning years was during his 8 years. A democrat no less!
Still haven’t figured out why. I like to say it was demographics that made him lucky but I don’t know.

#162 Nagraj on 09.05.15 at 2:59 pm

About “Lessons”

First of all, I don’t really get the picture. Why is the bride lookin’ into a soft drink can?
“Honey could you take the umbrella? I hear a bug in this can yellin’ for help.”
“Sure.”
“It looks like a bee!”

Second of all, I just can’t get excited about a hundred some comments all promoting Societal Acrimony. (Societal Acrimony is one of Todd Harrison’s memorable phrases.)

But I was taken with GT’s – Who the heck ever heard of Cuyagoa?
“Lackawanna and Tonawanda” is a recently discovered play by William Shakespeare. It’s set on a certain Greek island. [“Ontario” is Algonquin for “Flat Broke”.] After he wrote “Romeo and Juliet” he wrote “Cholesterol and Salmonella” starring Fatty Arbuckle and Gloria Swanson.

Which gets us to this mythical Alberta place. It is one of the Prairie Provinces. It’s listed on the NYSE but about to be delisted. The others are okay because they stuck to growing wheat and cows. Instead of Junkybonds. Junkybonds are not to be confused with Saskatoonberries or Perogyfruit. The Rocky Mountains are called Rocky Mountains because they’re made of rocks. Did you know that?

OMGIjustpoisonedmyself!!!
While I was typing this up I was really thinking about the compression of prices over the last dozen trading days, symmetrical triangles, and the order of peaks in various indices – bulls are so screwed – and because I can’t tri-task I ever so unwittingly dumped my ashes and butts into my coffee and kept drinkin’ it! I wonder if this happens to Smoking Man too.

May flights of angels sing me to my rest.
Behold how I have laboured but a little, and found for myself much rest.
And all the rest is silence.

#163 kommykim on 09.05.15 at 3:02 pm

RE: #156 BS on 09.05.15 at 2:02 pm
So why did the Harpercrits lower corporate rates when times were good?
Lower taxes is part of the reason there were good times

Nope. The good times came first. Then Harper cut taxes. Then the economy tanked. Now Harper has no more arrows in his quiver and thinks austerity will lift us out of recession.

#164 kommykim on 09.05.15 at 3:04 pm

RE: #157 BS on 09.05.15 at 2:09 pm
If people put as much effort into their own career as they do complaining about others not being taxed enough they would find success.

Maybe some of “us” work for the CRA?

#165 Kilby on 09.05.15 at 3:11 pm

#39 april on 09.04.15 at 8:15 pm
Isn’t CMHC made up of realtors????

Accountants, lawyers and friends…

#166 Mark on 09.05.15 at 3:19 pm

“Income is a result of chance? Where do people like this come from?”

In a lot of cases, it is. For instance, of my graduating class, those who were able to find employment with government enjoy great income. Those who didn’t, have been mostly out of luck or stuck in dead end stuff in a private sector that has been suffering a long-term decline.

Government employers hiring at the time typically aimed at the lower quartile of grads on the belief that long-term retention would be easier. The end result, many years later, is that the weakest students actually make considerably more money than the strongest grads.

A lot of this can be chalked up to chance. After all, does anyone go into school aiming to be mediocre in the hope of finding a good job? Of course not. Except that’s exactly what’s been working out the best in my experience.

#167 kommykim on 09.05.15 at 3:24 pm

RE: #147 Linda on 09.05.15 at 12:40 pm
It doesn’t mean that you (presumably a male) will die at age 68, just means that on average a male born between 1960 to 1962 will die at age 68.

Exactly. It’s the average age which includes males dying when they are infants and teenagers which skews the data lower:
http://www.statcan.gc.ca/tables-tableaux/sum-som/l01/cst01/health26-eng.htm

Notice that the average male born in 2007 will live to 78.8 but if he had already reached age 65, the average is an additional 18.5 years for a total of 83.5 years:
http://www.statcan.gc.ca/tables-tableaux/sum-som/l01/cst01/health72a-eng.htm

#168 Retired Boomer - WI on 09.05.15 at 3:25 pm

#161 RETIRED BUSINESS OWNER

Funny how that works. Just thinking back, there was a time when we thought there would be NO national debt.

Can’t even imagine that one now… If there wasn’t one, and we killed off the trade debt too, then we could actually CUT taxes and keep them down.

Nobody ever dreams THAT far ahead. We are a Quarter by a quarter, YOY mentality people. We need to get over that

#169 Mark in Guelph on 09.05.15 at 3:25 pm

The top marginal tax rate in the US from 1954 to 1963 was 91%. Is that what you are advocating? — Garth

Let’s be more honest Garth, nobody paid anything close to that with all the deductions they were allowed. The actual rate paid was closer to 31% for the top 1% in the decade you reference.

#170 Kilby on 09.05.15 at 3:28 pm

#117 James GoodThang on 09.05.15 at 2:24 am
“So every stock market dip, for example, means investments are going to zero. Every skirmish will lead to war. Every drought is the end of food.”

Apply straight line logic and we get ” Just because we have an idiot named Obama as president south of the border 5 billion people won’t continue to burn, starve, fight, and be turned into refugees”.

And after we get rid of that idiot the world might start being less violent in the absence of an insane narcissist as leader of the free world.

Donald Trump possibly…..

#171 april on 09.05.15 at 3:31 pm

Ross Kay, Vancouver Realty Consultant, said 60% of houses in Vancouver are not being sold. He also says the people buying and selling are only the people who can afford to move. I expect people who have a vested interest in continuing home price increases will disagree or try to discredit him.

#172 Godth on 09.05.15 at 4:09 pm

#162 Nagraj on 09.05.15 at 2:59 pm

Algonquin park and the Coywolf.
https://www.youtube.com/watch?v=-ZwEhLQKg4I

Maybe that will excite you. Nature never ceases pumping out the hits.

#173 Tiger1960 on 09.05.15 at 4:15 pm

What assets would you have at age 22, unless you were given those assets ,and to hire 8 employees?
I just worked accumulate money and got big contract after a while , age 22 hired 8 employees and never looked back! Timber harvesting!
At age 18 my only asset was a power saw and and a firewood truck,paid for by me!

#174 young & foolish on 09.05.15 at 4:15 pm

“ALL have gorged at the taxpayer trough”

I can’t get this stubbornly idiotic view of our economy. Do you anybody, anywhere, in the modern world who has NOT been fed by the taxpayer?

#175 Vanecdotal on 09.05.15 at 4:16 pm

Anecdotal, but hangin’ with ma peeps last night, “lowly renters” in S.Bby. They mentioned that their landlord “just got audited by CRA, and isn’t a happy camper.” Apparently involves his rental properties.

Guess TPTB aren’t waiting for the election to be over afterall.

#176 Nora Lenderby on 09.05.15 at 4:58 pm

#77 OttawaMike on 09.03.15 at 10:27 pm
Re:IT jobs…
Lots of bodies going over the gunwales…

Oi knew ye were a pirate, lad! Ha har!
Now, lend an ear and Oi’ll tell you the secret to getting ’em in the water fast and undetectable, like.

First ye slit the bellies, and then toss them off the transom, otherwise ye’ll get them coming up after three nights or getting stuck in yer boarding nets…

Avast behind!

#177 john duffy on 09.05.15 at 5:07 pm

Why should peoples flee countries when America is bringing them “freedom and democracy?”

http://www.paulcraigroberts.org/2015/08/26/neo-need-paul-craig-roberts/

#178 young & foolish on 09.05.15 at 5:29 pm

“Just wait till the Trans pastfic partnership …”

Forget about the recovery, and consider the transformation.

#179 Nora Lenderby on 09.05.15 at 5:32 pm

#129 Neether A. Borrower on 09.05.15 at 9:06 am
Hi Nora. Um, I wanna ask a personal question.
Are you single? Think about what a couple we would be! We would make beautiful platitudes together!

Sigh…OK, so here are the options I see here, for you:

1. You, Neether A. Borrower, are a genuinely lonely soul looking for companionship, in which case I direct you to “Advice by Nora” (soon to come to an Internet near you) where you can bare all to a nice lady and she will tell you what to do, all for the low, low price of U$19.99* per 5 minutes.

2. You, Mr. NAB, are a stout-hearted jolly sort of fellow who genuinely admires “the ladies” and have a secret desire to play naughty on the Internet.

3. You, Mr. NAB, are a Jane Austen-admiring truck driver from Montpellier, Vt. much given to pranking. You ask anything that looks vaguely female to er, accommodate you, and your success rate is, well, non-zero.

The we have me:

A. I am a whacky old lady with an undiminished ardour for older gentlemen, currently besotted with a senior citizen. The present model gets good mileage and has lots of life left in him, although cornering isn’t what it once was. I have no plans to trade up.

B. I am a never-married single woman who can’t find lurve and is just waiting for some distinguished and fabulously wealthy older gentleman to importune her on this blog.

C. I, Nora Lenderby, aka Sue, am a Jane Austen-obsessed truck driver (birth name Vern) from Montpellier, Vt. much given to pranking and doily-crocheting.

Let’s give you a little test. Build the truth table and assign probablities to each scenario. Marks will be deducted for late work.

* As a favour, I will tell you what will help; buy a puppy, get out more, work in a food bank, volunteer, go to church, then discover the delights in my new book, What Womyn Want, to be published in the Spring by Sheamus and Shyster $25.99 Cdn 897pp.

#180 Nora Lenderby on 09.05.15 at 5:43 pm

#127 Nora Lenderby on 09.05.15 at 8:30 am
#122 Vangrrl on 09.05.15 at 5:05 am
I’ve been living in Europe for 9 months, and besides working and travelling a bit have been volunteering with Red Cross Refugee Family Support Services. We visit ‘detention’ centres and give phone calls to detainees or take requests for reading materials, small necessities, etc.

Thanks for this. I also heard today that a well-off Ottawa businessman privately sponsored a Syrian family 3 years ago. They have just gone public. The family had been waiting in a refugee camp for 7 years before that.

And Pat Carney, although I might have disagreed with you in the past, you are admirable for your position on refugees

People can be amazing.

ZOMG, I was wrong! The family is from Iraq.
(People are still amazing.)

#181 young & foolish on 09.05.15 at 5:45 pm

Stop bashing big spenders …. they are your customers.

#182 IHCTD9 on 09.05.15 at 6:12 pm

#137 Millennial Realist on 09.05.15 at 11:09 am

You are young, and evidently have a lot to learn. Tax rates and government revenue are not joined at the hip. There is already a massive underground economy in Canada. There would be no “marvellous positive effects on society” even if the uber rich 1%’ers were taxed 99%, in fact; government revenue would decline if folks like you had their way. You can spend all day mining data on the web in support of your biases – or you could get your ass off the couch and make a practical difference to your circumstances.

Repeat after me:

The rich will get richer
The poor will get poorer
Corporations will make billions and billions and billions of dollars.

The day you can say these words without gagging will be the day you take your first steps towards exiting the basement.

#183 Mister Obvious on 09.05.15 at 6:22 pm

I’m more of the opinion that:

The rich will stay rich
The poor will stay poor
The jury is still out about the middle

#184 Leo Trollstoy on 09.05.15 at 6:25 pm

#182 IHCTD9 on 09.05.15 at 6:12 pm

Totally agree.

‘Millenial Realist’ isn’t much of a realist.

#185 Leo Trollstoy on 09.05.15 at 6:27 pm

Income is a result of chance?

For the poor and middle class. Sure does.

Assuming that they can even find a job in the first place.

#186 BS on 09.05.15 at 6:29 pm

In a lot of cases, it is. For instance, of my graduating class, those who were able to find employment with government enjoy great income. Those who didn’t, have been mostly out of luck or stuck in dead end stuff in a private sector that has been suffering a long-term decline.

Government employers hiring at the time typically aimed at the lower quartile of grads on the belief that long-term retention would be easier. The end result, many years later, is that the weakest students actually make considerably more money than the strongest grads.

A lot of this can be chalked up to chance. After all, does anyone go into school aiming to be mediocre in the hope of finding a good job? Of course not. Except that’s exactly what’s been working out the best in my experience.

Got it Mark. The fact you couldn’t land a good job while others in your graduating class could has nothing to do with you. Your grades were too high! Good one. That is some creative thinking.

I think parents of millennials are to blame. They seem to have taught their kids when they lack success it has nothing to do with them and it is never their fault! All those trophies for losing did a lot of damage.

#187 Leo Trollstoy on 09.05.15 at 6:30 pm

#137 Millennial Realist on 09.05.15 at 11:09 am

Will never happen.

Stop pretending to be a realist. Obviously not a realist.

#188 Hawk on 09.05.15 at 6:32 pm

#139 debtified on 09.05.15 at 11:51 am

In the history of mankind there has always been those with more and those with less.

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

I agree 100%.

Left leaning communist types think that inequality does not exist in socialist / communist societies, but in fact its sometimes even greater.

Its a disaster because the wealth is concentrated mostly amongst the government and ruling classes.

In the capitalist, market based system, wealth flows to the most productive and capable (and ofcourse the lucky).

So its a case of choosing between a worldview of wealth distribution based on merit as vs. a wealth distribution based on the oppressiveness of a ruling class, but either way, there is no equality of wealth.

#189 young & foolish on 09.05.15 at 6:32 pm

Interesting how many citizens of the western world are tripping over themselves to embrace the Syrians, but would not spare a quarter for a homeless person.

I guess the Syrians are deserving innocents, and the homeless guys got what they deserved.

#190 Sosuke Aizen on 09.05.15 at 6:38 pm

#13 Mouldy Millenial

You have neglected to include the simple declaration that people in Canada who are not white or aboriginal must be foreigners. Or those in Canada who weren’t born in Canada must be foreigners, unless they’re white. Only based on such premise does your message make sense. It would be cowardly of you not to admit you hold such a belief, because you are in good company.

#191 Freedom First on 09.05.15 at 6:44 pm

#145 West Texas Funster

I enjoyed your Post. We have much in common. Freedom First…….priceless.

#192 Washed Up Lawyer on 09.05.15 at 6:46 pm

I am still working on my comment to Garth’s blog featuring Jen’s letter a few days ago. I should have it finished by Tuesday.

I need a break so I am heading out to buy some Ripple Chips. Anybody need anything?

#193 Estrella on 09.05.15 at 7:28 pm

Bored out of my mind. One of you people kindly write an interesting blog tonight…. ?

#194 crowdedelevatorfartz on 09.05.15 at 7:55 pm

@#193 Estrella

I just purchased a 2 terrabyte Backup Portable storage unit thats about the size of a cellphone.
2 terrabytes!
Do you have any idea how many video’d (with sound…. natch!) farts I can store on that!
A LOT!

There.
I just made your night.
Glad I could help.
Dont thank me.

#195 Daisy Mae on 09.05.15 at 7:56 pm

#125: “How could you accumulate that asset by 22?
The details are always the most interesting part.”

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

….and probably none of your business. ;-)

#196 TurnerNation on 09.05.15 at 8:00 pm

Will ‘lil Tru-doh claw back our 10k TFSA limit? :-(

#197 Washed Up Lawyer on 09.05.15 at 8:44 pm

#193 Estrella on 09.05.15 at 7:28 pm
Bored out of my mind. One of you people kindly write an interesting blog tonight…. ?
##########

Estrella:

I am willing to chime in but you have to pick the topic:

1. Peruvian Indians and their Type O blood; or
2. The Q10 factor and the size of Canadian Whitetail Deer compared to Texas Whitetail Deer: or
3. The smallest V8 engine – the 218 cubic inch 1963 Ford Fairlane.

Let me know if any of these are of interest. I know all about them.

#198 Shawn on 09.05.15 at 8:51 pm

Life Expectancy for those born 1960 1962

#89 Shawn on 09.04.15 at 10:39 pm
Life Expectancy

#49 Linda on 09.04.15 at 8:45 pm
Life expectancy as per StatsCan for males born between 1960 to 1962 – 68 years. Life expectancy for males born between 2000 to 2002 – 77 years. For females, the 1960 to 1962 female has a life expectancy of 74 years; the 2000 to 2002 female has a life expectancy of 82 years. The average life expectancy for Canadians as of 2012 is 81.24 years as per the mighty Google,

************************************
Linda thanks for the additional info at 147 on where to find the source.

As expected you seem to have misinterpreted in that you left out the important words “at birth”.

It may well be that the life expectance of males born 1960 to 1960 was 68 years at birth. But experience has likely exceeded that so that quite likely (actually I am certain) the life expectancy of the 1960 to 1962 cohorts is longer than the 68 years expected way back in 1960 to 1960.

In fact, if actual median life had not been consistently exceeding the expectation at birth for cohorts then the expectation at birth would not have risen dramatically over time, which it has.

#199 NoName on 09.05.15 at 9:22 pm

#193 Estrella

when bored you should board estrela tram #28.
https://www.flickr.com/photos/[email protected]/20947182089/in/explore-2015-09-04/

#200 Freddie on 09.05.15 at 9:25 pm

RE #28
“Our first past the post electoral system works well when there are two main parties but right now Harper could win with the support of a tiny proportion of the Canadian public.”

So could Mulcair or Trudeau.

No matter which party wins, most of the voters would have voted for another party. It only takes 40% of the popular vote to win a majority in most elections.

The system is not prefect, but good luck finding an alternative that the vast majority would accept.

#201 Smoking Man on 09.05.15 at 9:28 pm

#193 Estrella on 09.05.15 at 7:28 pm
Bored out of my mind. One of you people kindly write an interesting blog tonight…. ?
……

I’ll take a crack at it.

And this is going to be of great interest to ladys, well not really intetest , more of a behavioral issue with some men that they don’t know exists..

Shy Men….not talking about, general shyness..you’re at a bar and you’ve chugged some beers, lots off beers, out of the blue you realize, its time to make room fir more, a sprint to the bathroom is immediately required…

You dart off at lightning speed..

Only one dude ahead of you when you reach your destination. Now things would be fine if he didn’t hear your foot steps behind him..He would empty his beer, wash up and go back for more…

But he has this shy syndrome, as much as he needs to go, as much as he wants to go…

Its not co-operating…..He can’t.

You grind your teeth, curl your toes, do everything possible to hold it in. As a last resort you search your pockets for a close line clip. , anything with a spring or clamping mechanism.

Two minutes go bye, nothing, shy syndrome is frozen. He wont go, and wont move to let someone else up to bat.

The only way out, you back out of the room, stand gaurd, dont let anyone in…

Within a minute, you hear the sink, then its your turn…..

This happens all the time…

#202 Estrella on 09.05.15 at 9:49 pm

#194. Crowdedelevatorfart. Truly impressed with your enormous storage. Think of all the cat video you could at church over and over again.

#197 washed up lawyer

Definitely talk about Peruvian Indian’s type O blood. Please provide commentary on RH +/-. Also would be titillating to hear your take on Chinese facination with type B Blood! We must fill up our blood banks you know since they are invading Vancouver, so I hear…..

#203 LP on 09.05.15 at 9:50 pm

#193 Estrella on 09.05.15 at 7:28 pm
Bored out of my mind. One of you people kindly write an interesting blog tonight…. ?
*************************
The best way to have an interesting conversation is to start one. Don’t just sit there like a lump, contribute to the topic or start one even partly connected.

Better yet, leave your computer, go outside and nod pleasantly to someone. You’d be surprised how interesting others can be and you might just find that you can be interesting too.

#204 45north on 09.05.15 at 9:52 pm

BC Guy: If I was Prime Minister of Canada or Premier of BC, I would charge this billionaire a billion dollars a year in tax on that property to help pay down the federal and/or provincial deficit.

first of all if you were Prime Minister of Canada you would have almost no influence over property taxes.

strike one

If you were Premier of BC you would have influence but no definite control.

The 200,000-hectare property — reputed to be the largest working cattle ranch in Canada

so the land would be zoned as agricultural and I’m guessing forestry. Land is taxed according to zoning and not who owns it.

strike two

#205 Marco on 09.05.15 at 9:58 pm

@sick of leftist pukes.

To be clear, when saying leftist pukes:
I think you are referring to the other party?

Trudeau is quoted as saying he would not raise corporate taxes. As he knows they must stay in tune with the Americans. He is also quoted as saying he would even consider lowering them if the Americans do.

Cheers.

#206 Bottoms_Up on 09.05.15 at 10:07 pm

#198 Shawn on 09.05.15 at 8:51 pm
—————————————
You’re right, life expectancy applies to everyone currently alive. A female in her 50’s today has a 50% chance of living to her 90s. And this is why Garth is right, the greatest risk is running out of money.

#207 Leo Trollstoy on 09.05.15 at 10:37 pm

#186 BS on 09.05.15 at 6:29 pm

It’s sad that some people are unaware that they are authors of their own failure.

Thankfully Life doesn’t care if one is aware of obivious.

#208 For those about to flop... on 09.05.15 at 10:38 pm

http://www.handfamilycompanies.com/filebin/images/product_images/Estrella-Damm.jpg

When I am bored like you Estrella I drink Estrella .
Then I am not bored ,just drunk.

#209 45north on 09.05.15 at 10:57 pm

Daisy Mae: No. It boils down to ‘whatever the market will bear’. It’s been great for all levels of government — with 2-income families, both paying income taxes to governments, all levels….and daycare costs.

But it hasn’t been great for families. They will eventually come to realize what they’ve lost.

here’s Elizabeth Warren speaking on two income families. Brilliant and passionate. Her talk has deep meaning for me because I was raised in a one income family.

https://www.youtube.com/watch?v=akVL7QY0S8A

Nora Lenderby: In Canada’s former times there was strong drink available for free at the hustings (if you voted for the candidate that brought the flagon, and it was an open vote).

David McDonald: Maybe we need a two round vote in each riding. If the first round doesn’t generate a majority then a second round vote between the top two is held a couple weeks later.

I have worked as a scrutineer in a number of elections. I’m proud of our election system and I am skeptical of claims of a better system. Especially as times get tougher.

Vangrrl: I’ve been living in Europe for 9 months, and besides working and travelling a bit have been volunteering with Red Cross Refugee Family Support Services. We visit ‘detention’ centres and give phone calls to detainees or take requests for reading materials, small necessities, etc.

that got my attention

Farm Wife: There was mention in one of the posts of making rural land into five acre plots for city folks to live the rural life. Out here it has been done to the extreme with mixed results. For the most part it goes like this …Giant house and shop..One ton dualy and expensive suv..at least two horses…numerous dogs…all the toys that go with the imagined country life style. Three years later…divorce followed by bank forced sale. These are the folks who think they can buy a lifestyle.

that got my attention. by the way where’s “out here”?

#210 Trading Naked on 09.05.15 at 11:02 pm

#186 BS on 09.05.15 at 6:29 pm

Purely anecdotal: the last job interview I went to was for an entry-level position in a multinational. I was railroaded into it by a family member on the inside, for complicated reasons. I didn’t care much for this job (’cause I had one already), but I was curious enough about it that I didn’t walk right in and tell them that I didn’t want it. Nor did I do the “usual” where I tell them how much value I will add to their company. Instead, with nothing to lose, I played myself off as a sad, slouching, desperate loser. And I got the job.

#211 crowdedelevatorfartz on 09.05.15 at 11:12 pm

@#202 Estrella

Ok, answer me this.
Why oh WHY do the coyotes in the park next to me howl like banshees everytime a fricken siren wails?
Estogen? Hormones? Both? Neither?
THIS is your quest my terminally bored amiga. If you dare……………

#212 OttawaMike on 09.05.15 at 11:34 pm

Nora Lenderby on 09.05.15 at 4:58 pm

Lots of Pirates in my Gatineau marina.

God bless all the French girls though. Just something delightfully trashy about many that makes my heart race.

#213 Smoking Man on 09.05.15 at 11:53 pm

#201 Smoking Man on 09.05.15 at 9:28 pm
#193 Estrella on 09.05.15 at 7:28 pm
Bored out of my mind. One of you people kindly write an interesting blog tonight…. ?
……

I’ll take a crack at it.

And this is going to be of great interest to ladys, well not really intetest , more of a behavioral issue with some men that they don’t know exists..

Shy Men….not talking about, general shyness..you’re at a bar and you’ve chugged some beers, lots off beers, out of the blue you realize, its time to make room fir more, a sprint to the bathroom is immediately required…

You dart off at lightning speed..

Only one dude ahead of you when you reach your destination. Now things would be fine if he didn’t hear your foot steps behind him..He would empty his beer, wash up and go back for more…

But he has this shy syndrome, as much as he needs to go, as much as he wants to go…

Its not co-operating…..He can’t.

You grind your teeth, curl your toes, do everything possible to hold it in. As a last resort you search your pockets for a close line clip. , anything with a spring or clamping mechanism.

Two minutes go bye, nothing, shy syndrome is frozen. He wont go, and wont move to let someone else up to bat.

The only way out, you back out of the room, stand gaurd, dont let anyone in…

Within a minute, you hear the sink, then its your turn…..

This happens all the time..

……

Damn , happens every time I post sobar..

Had I been in the state I’m in at the moment..

Shy man syndrome would have been typed..

Shy (acronym for Richard) syndrome…

Note to self, nevet post sobar…

#214 Nosty, etc. on 09.05.15 at 11:54 pm

Testing. Is there anybody in there?

#133 Smoking Man on 09.05.15 at 9:45 am — “However like I always say, you can’t beat the machine. They have every corner covered. The only way to stop whats coming by 2030, Men must learn to Be Men again.”

Does this include Girly-Men?! BTW, The Big Yin, you and I share something in common — none of us gives a hoot about death and the afterlife!
*
Strange. The downing of MH370 led to a Rothschild inheritance (as if they needed it). Guessing only, they currently have a net worth of US$600 trillion (+/- — don’t forget the removal of money); Detroit is doing relatively well; If Hillary can lose her emails at will, I guess this guy can as well (also from Obama’s admin.).

#215 Mister Obvious on 09.06.15 at 12:06 am

#200 Freddie

“The system is not prefect, but good luck finding an alternative that the vast majority would accept.”
———————————-

I’ll say! In BC in 2009 we had a referendum question along with the provincial election to adopt a “single transferable vote” election system. It needed a 60% majority and achieved only 39% with a 55% participation rate.

I voted against it but I didn’t do so lightly. I spend a lot of time studying the proposed system and thinking about the implications.

It was a convoluted system drawn up by a committee after extensive consultation with many average voters. It was also practically impossible to determine exactly how your vote would be counted. Basically, each vote became ‘fractional’ and was applied according to several non-intuitive formulas. You just had to trust them to get it right.

But that wasn’t my biggest problem. The system required that many smaller ridings were amalgamated into fewer larger ones with multiple representatives each of whom could be from any party. Huh?

I tried to understand it. I really did. But in the end I concluded it was basically a dog’s breakfast.

I have the feeling Justin now wants to subject us to a similar mess at the federal level. That together with his foolish stance on the TFSA are the two main things that really bug me about him.

#216 Gulf Breeze on 09.06.15 at 12:37 am

You know, it’s interesting…the right wing libertarians don’t acknowledge the role their parent’s wealth and social milieu played in their ‘slow tedious’ grind to the top.

They don’t take luck into account. And most of the whining wealthy boomers ignore the fact that when they launched businesses, it was easier to succeed. When asked about income tax (oh wait… you don’t have to ask them, they’re too happy to TELL you) they do a Daffy Duck “it’s mine, mine, mine!” impression.

Remember the cartoon with Daffy and the oyster and pearl? These people are the quintessential cartoon characters that would make us scream with laughter, if they didn’t have such a disproportionate say in global politics.

There is a much higher barrier to entry in all businesses now. Govt backed oligopolies blow competition out of the water.

Let’s not even get into how automation has replaced high paying jobs.

As if carrying student loans isn’t bad enough, graduates can’t find decent jobs and have no access to capital, (in a capitalist society, bummer that!) with which to start a business that would likely fail anyway.

The odds are very stacked against the young. When I was a kid, all you needed was a pulse to get ahead.

Millenials are doing all the heavy lifting in soul destroying minimum wage service jobs. I think they are the first generation that has earned enough moral high ground to lecture their elders, particularly those who dislocate their own shoulders by slapping themselves on the back.

Millenials are more mature than your parents, particularly if they are wealthy self congratulatory ‘self starters.’

I am a millionaire a few times over and a boomer. I did squat to deserve it and am the first to admit it. For others in my enviable position, I have to ask, what are you doing to help? Burdening the burdened with dumb ass lectures, ain’t the way to go. Comprendo?

#217 Smoking Man on 09.06.15 at 1:05 am

Why I love long branch..

Rooming house accros the street.. The unbalanced man, the poor black woman , realy great mom, with two slightly off kids. Not in a bad way as far as the kids go..

just, well, she has her hands full, bad vaccine’s Im thinking . we help when we can. Especially my bleeding heart commie wife.

The unbalanced man deside to kick mating skunks while I was out having my 49th cigarette of the day..

He has no idea that he’s more popular now than Holston Z14

Damn, he was so hammered. Took him ten minute’s to make it to the door which was ten feet away..He never fell, glad you cant bet on that, I would have lost that one.

Who in his right mind would not want to live here…

The hood rocks, we just got a kfc converted to a tims, the bucket on the pole, is now a small double double on a stick.

Where the hell else can you see the rich and the poor in one spot threw the eyes of quad focal shades.

I love this hood..

#218 Great Canadian Bubble Co. on 09.06.15 at 1:22 am

Garth, it would be great if you did a post (hypothetical of course) on what Millennials should do if neither the BOC or the Fed have the guts to ever raise interest rates significantly.

What is your advice if the future politicians act like politicians and do everything in their power to keep real estate prices high for the next 20+ years (maybe not significantly higher) by playing with all of the tools at their disposal.

Markets can stay irrational longer than many millennials can stay solvent.

#219 Cyclist on 09.06.15 at 2:30 am

198 Shawn – I believe you are partially correct because
the majority of that cohort is still alive, so age at death in still unknown. Life expectancy must therefore be projected.

From the cited sources, a male born in 1950 has (had?) LE of 66 years, but if you actually made it til now, you can expect another 18.5 years. The average will be
dragged down by poor souls who check out early.

http://www.statcan.gc.ca/tables-tableaux/sum-som/l01/cst01/health72a-eng.htm

Illustrated here. Look at the expectancies for those born in 2007-2009. Then look at those aged 65 and add
their remaining LE. They will live longer than the
“average” newborn.

The wiki article explains this well and provides many references.

Live long and prosper.

#220 Lorne on 09.06.15 at 2:51 am

#215 Mister Obvious
#200 Freddie

“The system is not prefect, but good luck finding an alternative that the vast majority would accept.”
———————————-

I’ll say! In BC in 2009 we had a referendum question along with the provincial election to adopt a “single transferable vote” election system. It needed a 60% majority and achieved only 39% with a 55% participation rate.

I voted against it but I didn’t do so lightly. I spend a lot of time studying the proposed system and thinking about the implications.

It was a convoluted system drawn up by a committee after extensive consultation with many average voters. It was also practically impossible to determine exactly how your vote would be counted. Basically, each vote became ‘fractional’ and was applied according to several non-intuitive formulas. You just had to trust them to get it right.

But that wasn’t my biggest problem. The system required that many smaller ridings were amalgamated into fewer larger ones with multiple representatives each of whom could be from any party. Huh?

I tried to understand it. I really did. But in the end I concluded it was basically a dog’s breakfast.
…….
Yet, it is very commonly used around the world so really can’t be that bad!
For instance, in Western Europe, 21 of 28 countries use proportional representation, including Austria, Belgium, Cyprus, Denmark, Finland, Germany, Greece, Ireland, Luxembourg, Malta, the Netherlands, Norway, Portugal, Spain, Sweden, and Switzerland.

#221 Nagraj on 09.06.15 at 6:56 am

JIM H
Thanks for suggesting those two tech analysis websites. Excellent stuff.
Clearly what we’ve got on the SPX is a classic CONTINUATION PENNANT (practically if not purely a symm triangle) in an obvious downtrend, the MSM will have work to do in explaining why the stock mkt keeps goin’ down.
Different strokes for different folks: GT considers Elliott Wave theory junk. I do not. But counting waves in the present is too complicated a task for me. What’s your experience?

GODTH
Coywolves or woyotes makes me think of pumpcumbers or cumpkins.
I do not dismiss Societal Acrimony as unimportant. But banal expressions thereof do bore me. And I’m sure that’s the case with you as well.
(Speaking of Norway – try the 2010 film The Troll Hunter.)

#222 David McDonald on 09.06.15 at 8:09 am

#215 Mister Obvious
#200 Freddie

True our electoral system is simple to understand and has worked for us for nearly 150 years. However i worry that the Harper government’s tactics may produce a majority government with slightly more than 1/3 of the voters in slightly more than 1/2 the ridings (especially targeted rural ridings where votes count twice compared with urban ridings). In the extreme this would mean a majority with less than 1/2*1/3, say 10% of voters or in the worst case 6% of the adult population.

I know that is ridiculous but for the first time we have a party using American political techniques to game the system this way. It’s scary.

#223 Estrella on 09.06.15 at 8:14 am

#211 Crowdedelevatorfartz
I live in the country. …coyotes don’t howl at sirens, only if they capture prey. Then the laugh and wail sort of like a symphony of the capture. My guess is that your park contains stray dog, or wolf cross. Adios amino, thanks for helping fight the ennui.

#214 nosy. Very interesting about Rothschild. Thumbs up for your interesting post.

Smoking man. Good effort. Rambling can oftentimes have a very poetic verse and I think you have a soul of a poet that comes out when you drink. But don’t drive. Just stay home and help fight the scurge of ennui…

#224 LP on 09.06.15 at 8:59 am

#217 Smoking Man on 09.06.15 at 1:05 am

Now that is great writing! Your mini essay goes way beyond interesting…I could smell, hear and see your little patch of Long Branch and it takes great writing to produce those reactions in a reader.

I only had to look up one reference but, as you never tire of saying, Google always comes through.

#225 Godth on 09.06.15 at 9:06 am

#221 Nagraj on 09.06.15 at 6:56 am

The coywolf is an interesting example of adaptation. The PBS NOVA series “First Peoples” is too.

I think Keiser and Celente should be a comedy duo. I miss George Carlin.
https://www.youtube.com/watch?v=jdoFP_AgUBo

If one goes trolling they can expect to get trolled? Who is trolling whom here?

#226 VH on 09.06.15 at 9:08 am

You said, “Kids today graduating into a world of million-dollar houses, ubiquitous debt and the seventh year of a global downturn have no picnic.” Perhaps. But they sure as hell have a huge sense of entitlement that they are owed for their grief. So much so, their parents are paying their rent and cell bills: ‘Parents say adult children draining their nest eggs, CIBC poll finds’ Link: http://www.ctvnews.ca/business/parents-say-adult-children-draining-their-nest-eggs-cibc-poll-finds-1.2544036

#227 Life on 09.06.15 at 9:48 am

#207 Leo Trollstoy on 09.05.15 at 10:37 pm

#186 BS on 09.05.15 at 6:29 pm

It’s sad that some people are unaware that they are authors of their own failure.

Thankfully Life doesn’t care if one is aware of obivious.

Life doesn’t.

Thankfully normal people do.

Like Garth, he keeps this blog alive out of care.

#228 Shawn on 09.06.15 at 10:15 am

Life Expectancy

From the cited sources, a male born in 1950 has (had?) LE of 66 years

******************************
“Had” (an estimated median ) life expectancy of 66 years at birth is correct.

Since then the median life expectancy estimate including all deaths for that cohort has sharply increased.

I don’t have the data to prove that but I am certain of it just based on being 55 years old and observing the world around me.

Also the life expectancy of the 2015 child would not be so very much higher than the 1950 child if the actual experience had not been exceeding the expectation at birth.

The fact that someone born 1950 and is now 65 has a much higher expected age of death than the median for the 1950 group is a different matter.

#229 Shawn on 09.06.15 at 10:20 am

Averages

We rely way too much on averages.

The dispersion of incomes, death, happiness, debt, health, height, weight, outdoor temperature and so much more around the average is HUGE.

Focus on your own situation.

There are no average Canadians (no a one) No one is precisely average .

Averages are often dangerous and misleading.

#230 Pk on 09.06.15 at 10:25 am

Hi Garth,
I’m a fan of your blog. Also a millennial. I must live in another country, because for me there has been no shortage of work in my field for the last 7 years.

Petr

Petr

#231 kothar on 09.06.15 at 10:28 am

I would like to postulate the ideas of socialists namely those that hope to bring NDP to rule the land. They want to introduce massive universal childcare…enhanced cpp for all… $15 across the board min wage and a host of other social programs nonetheless. There is no question we have to look after our people and we need programs…already we have cpp welfare etc….but they were established when costs were more manageable. Now we have an aging society which requires more resources…we have hoards of young people who are finding it hard to get a start…we have real estate prices in the stratosphere…we have provided gov all in massive debts trying to keep up. And we have this populist NDP surge as mentioned above with their promises yet without talking associated costs. Based on all I have said then taxes will have to go way way up to pay for this. Yet costs for people are already climbing…hydro ontario…car license plates from 78 in 2010 to $108 now in Ontario. …property taxes higher and higher to pay for ever higher police and fire union induced pay hikes. Our dollar is trashed and all imports are higher…food bank usage is higher than ever. People have been clamoring like crazy because of refugee situation in Europe that we take immediately thousands and thousands of them here. Once they come and are settled …what that? Where do they get work….we already have young people struggling for work…oil patch is throwing workers out…we already have foreign trained doctors lawyers scientists who can’t get jobs in their field here and are instead janitors taxi drivers or are on welfare. We can’t even fill health care positions in rural areas in places of our country. We can’t run aboriginal reserves as many are in poor condition. So if we have all this trouble already how do we provide for all these promises and take in thousands and thousands of refugees????

#232 Smoking Man on 09.06.15 at 10:45 am

#224 LP on 09.06.15 at 8:59 am
#217 Smoking Man on 09.06.15 at 1:05 am

Now that is great writing! Your mini essay goes way beyond interesting…I could smell, hear and see your little patch of Long Branch and it takes great writing to produce those reactions in a reader.

I only had to look up one reference but, as you never tire of saying, Google always comes through.

Glad you enjoyed it, my book up to where it is a million times better.

Im not in any rush to publish it, I suffer from a condition called Fame-A-Phobia.

Often in my drunken stuppers when I’m being pressured to finish the book, with my lips moving I tell the crazy voice inside my head.

“Worst place in life to be is famous without fortune.
Best place is Fotune with the Luxury of being unknown.
Why ruin a good thing…”

#233 MF on 09.06.15 at 10:47 am

#226 VH on 09.06.15 at 9:08 am

Even though I don’t ask for it, I know my early boomer are parents are there for me if I need. Actually, they seem to take pleasure in helping out me and my brother (who also doesn’t really need it).

“They must be entitled”? I think a lot of the negativity towards millennials who have boomers helping them out stems from jealousy to be honest. Jealousy from people who’s own parents gave them nothing but tough love and were not there for them as much as they would have liked.

MF

#234 MF on 09.06.15 at 10:48 am

Garth this article was a masterpiece.

One of your best.

Thanks as always.

MF

#235 MF on 09.06.15 at 10:52 am

#223 Estrella on 09.06.15 at 8:14 am

Thumbs down to you for actually reading that drivel.

The only “scurge” is the tin foil hat conspiracy theorists who cheapen this blog daily with said drivel.

MF

#236 crowdedelevatorfartz on 09.06.15 at 10:59 am

Gee.
Todays front page of the Sunday edition of New York Times.

http://www.nytimes.com/2015/09/06/world/gulf-monarchies-bristle-at-criticism-over-response-to-syrian-refugee-crisis.html

A bit of reality for the masses.
Now that the NYTimes has “exposed” the Middle Easts “dirty little secret” .
I wonder if the rest of the media lemmings will now follow suit, grow spines and start to finally focus their attention on the oil rich arab states that have done nothing about the refugee crisis all around them.

#237 crowdedelevatorfartz on 09.06.15 at 11:00 am

@#235MF

I dont wear a hat. It stops the messages from reaching me.

#238 Smoking Man on 09.06.15 at 11:01 am

#223 Estrella on 09.06.15 at 8:14 am
#211 Crowdedelevatorfartz
I live in the country. …coyotes don’t howl at sirens, only if they capture prey. Then the laugh and wail sort of like a symphony of the capture. My guess is that your park contains stray dog, or wolf cross. Adios amino, thanks for helping fight the ennui.

#214 nosy. Very interesting about Rothschild. Thumbs up for your interesting post.

Smoking man. Good effort. Rambling can oftentimes have a very poetic verse and I think you have a soul of a poet that comes out when you drink. But don’t drive. Just stay home and help fight the scurge of ennui…
………

My android phone just got update..amazing productively enhancement.

Knowing I would have absolutely no god damn idea what enmui ment.

I would highlight the word, copy, open a new browser, go to goggle, paste. Get my answer. Lots of steps.

Well with the update, I just highlight the word, at the bottom of the screen, the word is there with a google logo, click the logo, magic. Vocabulary temporarily expanded.

Ok Conrad Black….bring it on bitch….I got this now.

#239 Smoking Man on 09.06.15 at 11:05 am

#235 MF on 09.06.15 at 10:52 am
#223 Estrella on 09.06.15 at 8:14 am

Thumbs down to you for actually reading that drivel.

The only “scurge” is the tin foil hat conspiracy theorists who cheapen this blog daily with said drivel.

MF
……..

Obviously you read it to or you wouldn’t know it was as drivel.

Hypocrite.

#240 jas on 09.06.15 at 11:16 am

http://www.theglobeandmail.com/globe-investor/investor-education/wall-streets-top-psychiatrist-on-the-psychology-behind-market-swings/article26158596/ very good reading about human physchology and finacial markets, especially how we feel safe when going with the herd

#241 Godth on 09.06.15 at 11:19 am

#232 Smoking Man on 09.06.15 at 10:45 am

Croupier
https://en.wikipedia.org/wiki/Croupier_(film)

#242 Cyclist on 09.06.15 at 11:28 am

228 Shawn

“Since then the median life expectancy estimate including all deaths for that cohort has sharply increased……..I don’t have the data”

If what you are saying is that the LE in 1960 should have been higher then I dont believe that is correct. The predictions are made using mortality rates for which they would have years of data, and would be seeing the reduction over that time. Further reduction would therefore be projected. However, as much of the cohort is still alive, we cannot fine tune it.

You conclusion is based on anecdotal evidence Go to your next HS reunion. it might change your mind.

#243 Bill on 09.06.15 at 11:48 am

Garth as I mentioned the TSX is worse then it looks.
It may crawl back in a few months but for now…this was written Aug 23rd:
The TSX is already off over 8.5% this year but as a recent Scotia Bank report stated, it would down a heck of a lot more if Valeant Pharma hadn’t skyrocket 175% to have the highest capitalization on the exchange. Without it – Scotia estimates that the index would be down 22%. But then again – the TSX is so heavily weighted towards the oil industry and financials that’s not surprising given the performance of those two groups.

So what? If you have a balanced and diversified portfolio, light on maple – as I have stressed repeatedly for a few years – then you really don’t care. In fact, what better time to buy great companies when they are on sale? Only amateur investors expect all assets in their portoflipo to go up all the time. It’s why they chase returns, and fail. — Garth

#244 Mister Obvious on 09.06.15 at 11:55 am

#220 Lorne

“Yet, it is very commonly used around the world so really can’t be that bad!”
—————————————-

Your statement is a non-sequitur. Like this one:

‘A system of denying eduction to females exists in many countries of the world so it can’t be that bad.’

My point was that the specific STV voting system proposed in BC in 2009 was a convoluted mess that few voters really understood.

In addition, it caused increases in the size of constituencies containing multiple representatives of varying political stripes.

One broth, many cooks… No thanks.

#245 Steerage Bilge on 09.06.15 at 11:59 am

Yeah baby debt pigs we will be.. snorfle, snorfle.. we can do it…we can be as bad as Ontario and Quebec …

http://www.theglobeandmail.com/news/national/alberta-expected-to-announce-deep-budget-deficit-in-the-fall-to-spur-provinces-economy/article26237748/

#246 Marco on 09.06.15 at 12:08 pm

@Gulf breeze.

“For others in my enviable position, I have to ask, what are you doing to help? Burdening the burdened with dumb ass lectures, ain’t the way to go. Comprendo?

What are they doing? Why…
They’re “Laid back with their mind on their money and their money on their mind”. – Snoop doggy dog

Cheers

#247 Keith in Calgary on 09.06.15 at 12:50 pm

There is a new term in Calgary real estate today…………..”Quick Possession Homes”………….

As you pass thru nthe numerous new home builder ads in the internet and the paper you’ll see different builders offering between 25-50-100 of these “unique” opportunities.

Let’s do some math regarding 100 “quick possession” homes on a builders books. If the average MLS selling price in YYC is $500K (just to keep math simple), that is $50,000,000 of dead inventory based upon retail pricing, for just “one” new home builder.

Now what is the traditional new home builder margin expressed as a percentage ? If it is 20% then maybe they’re carrying $40MM of inventory…….which is all on some banks loan book.

There are more than a few people in blue pinstripes feeling nervous in Calgary I think. I wouldn’t be surprised if there is a billion dollars on dead real estate sitting on the ground here in YYC…….and that is not even counting resale homes.

—————————-

On another note. Just got back from Green Bay, Wisconsin, where I was for a week on a business trip. One of our clients paid $850ish for a 6,000′ 10 year old home on 2 acres. The place is gorgeous…….and would be listed for $4-5MM in Calgary……..when I showed him the comps up here he couldn’t believe it.

#248 Nora Lenderby on 09.06.15 at 12:50 pm

#236 crowdedelevatorfartz on 09.06.15 at 10:59 am
Gulf monarchies bristling…media lemmings growing spines…

Desert hedgehogs!

#249 Jim on 09.06.15 at 1:15 pm

George Monbiot skins and cooks a squirrel – Newsnight
‘its a little tough”

http://www.youtube.com/watch?v=5WJhVZFyC_4

#250 Daisy Mae on 09.06.15 at 1:24 pm

#209: “….here’s Elizabeth Warren speaking on two income families. Brilliant and passionate. Her talk has deep meaning for me because I was raised in a one income family.

https://www.youtube.com/watch?v=akVL7QY0S8A

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

Yes. Thanks for the video! We were a one-income family. I was a stay-at-home mom. It can be done. We had a mortgage. We had the toys — RV, boat, motorcycle. We budgeted, we invested. I kept busy. It worked for us. I wouldn’t have changed a thing.

#251 Lorne on 09.06.15 at 1:31 pm

#220 Lorne

“Yet, it is very commonly used around the world so really can’t be that bad!”
—————————————-

Your statement is a non-sequitur. Like this one:

‘A system of denying eduction to females exists in many countries of the world so it can’t be that bad.’

My point was that the specific STV voting system proposed in BC in 2009 was a convoluted mess that few voters really understood.

In addition, it caused increases in the size of constituencies containing multiple representatives of varying political stripes.

One broth, many cooks… No thanks.
………
There are at least 3 forms of “proportional representation…perhaps more. Maybe the STV system is not the best one…I am not sure. What I am sure of, is our present system, especially because we have a number of parties running, often does not give us a government that the majority of the population supports.
I see having all parties represented based on the number of votes they receive, gets rid of “strategic voting”, which is going to occur this election for sure, as people will not vote for the party or person they really want, but will be voting to avoid a particular party winning (no names mentioned!)

My listing of countries in western Europe where a form of proportional representation is in effect, was simply to show that many progressive countries are utilizing a system that is much fairer to all than our present “first past the post” system. In fact, most countries that utilize TPTP are smaller countries such as Bermuda, Yemen, Swaziland etc as well as the UK, USA, Canada.

http://www.idea.int/esd/type.cfm?electoralSystem=FPTP

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

#252 Nagraj on 09.06.15 at 4:07 pm

#225 GODTH

In no way did I mean to imply anything negative or critical when I recommended the 2010 Norwegian mockumentary “Trolljegeren”. I think it’s hilarious, very clever. and you’d enjoy it.
[I find this blog’s recent fetish for Norway, of all places, endless fun.]
I respect your writing and always read your posts.

#253 jess on 09.06.15 at 4:08 pm

http://www.technologyreview.com/review/539861/techs-enduring-great-man-myth/

…”debunks the myth of a lumbering, bureaucratic state versus a dynamic, innovative private sector. In a series of case studies—from IT, biotech, nanotech to today’s emerging green tech—Professor Mazzucato shows that the opposite is true: the private sector only finds the courage to invest after an entrepreneurial state has made the high-risk investments. In an intensely researched chapter, she reveals that every technology that makes the iPhone so ‘smart’ was government funded: the Internet, GPS, its touch-screen display and the voice-activated Siri.

http://www.ted.com/talks/mariana_mazzucato_government_investor_risk_taker_innovator?language=en

#254 Godth on 09.06.15 at 5:05 pm

#252 Nagraj on 09.06.15 at 4:07 pm
I’ll check out that movie, thanks. I didn’t take it personally and didn’t mean it personally.

When I read Jen say “work not worth doing” I think of this sort of thing:
@37:00
https://www.youtube.com/watch?v=-5NGbDSzJis

…in ass-backwards money mad world though she’s disparaged. Who is trolling whom.

“You go to the city to see the law. Upon arrival outside the building, there is a guard who says “You may not pass without permission”, you notice that the door is open, but it closed enough for you to not see anything (the law).

You point out that you can easily go into the building, and the guard agrees. Rather than be disagreeable, however, you decide to wait until you have permission.

You wait for many years, and when you’re an old, shriveled wreck, you get yourself to ask:

“During all the years I’ve waited here, no-one else has tried to pass in to see the law, why is this?”,
and the guard answers:

“It is true that no-one else has passed here, that is because this door was always meant solely for you, but now, it is closed forever”.

He then procceeds to close the door and calmly walk away.”
Franz Kafka

#255 Victoria Real Estate Update on 09.07.15 at 4:26 pm

. . . . . . . . . . . . House Prices. . . . . . . . . . . .
. . Percent Above/Below July 2008 Price Level. .
. . . . . . . . x = Canada, * = Victoria. . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
+30% . . . . . . . . . . . . . . . . . . . . . . . . . .x.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
+25%. . . . . . . . . . . . . . . . . . . . x. . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
+20% . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
+15%. . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
+10% . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
+ 5%. . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .*.
….0%. . . x*. . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . *. . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
– 5%. . . . . . . . . . . . . . . . . . . . . . . . . . . . .
—————————————————————————–
. . . . . . .July. . . . . . . . . . . . . . Aug. . . .July. .
. . . . . . 2008. . . . . . . . . . . . . .2014. . . 2015. .

(source: Teranet’s index – most recent data)