Remember the GreaterFool political poll of a couple weeks back? You know, the one that had Dippers wishing they owned thirsty underwear and accusing me of poor methodology, sleazy questions, questionable ethics and low moral character?
Besides asking the sad people who come here who they plan on voting for, our poll found two-thirds don’t want more taxes on the rich (sorry, Justin), or corporations (take that, Tom), while a majority say they hate the current prime minister (nuts to you, Stephen). However, more than 85% they want the TFSA limit to stay at ten grand a year.
Those claiming this poll was as useless as the pathetic blog itself accused it of being a refuge and support group for the 1%ers who know as much about reality as, say, Taylor Swift. But when the comments section overflowed with bile from the anybody-but-Harper and eat-the-rich masses, it sure seemed like the guillotines were being prepared.
Since then the winds have changed. The NDP has slipped measurably in mainstream polling with the Libs picking up support and the Cons clinging steadfastly to their base. When the GF survey was taken (yielding over 7,000 responses), Mulcair topped the polls. So our finding of 45% support for the Conservatives, 25% for the Liberals , 19% for the NDP and 10% for the protest guys (Greens) was heretical. Since then the Dippers have declined to 24% with the other two parties sitting in the low 30%-range. The Globe reported late Monday there’s a 65% chance Harper will still be PM on October the 20th.
In short, unless there are big changes, it will be a minority Tory government or possibly a coalition between the Grits and the Dippers. If the latter, your enhanced TFSA will be toast, while your doctor and employer will be more heavily taxed and a lot more government soon could enter your life. If the former, expect more of what has made most people hate the feds – with the distinct possibility of another election in two years.
The choice seems simple, then: more spending, taxing and a bigger government. Or steady-as-she-goes with the guy who brought you Mike Duffy, robocalls and Dean del Mastro. This, says Kellie, is confusing as hell.
“I want to do my duty and vote on October 19th, but I’m feeling politically paralyzed! I live in Calgary, so you can imagine how nervous the peeps are here and this upcoming election is sending a number of us in circles. In the recent provincial election, we voted a party out….plain and simple. And look where that’s gotten us! There’s a large number of people whose agenda is to vote the Conservatives out – and from my limited understanding of Steven Harper’s brand of politics and fumbles (I’m being nice), I agree with this. The trust is not there. Too back door, bills being pushed through behind the scenes, too much “I had no knowledge of that”…..isn’t that his job? If he can’t run his office with ethics, then why is he running the country. Can you break down the election for us in simple terms? The players, the implications of each in power, the pros, the cons.”
Sure, Kellie. Then I’ll go and lie down in the express lanes of the 401 for a while. Same result.
In an election campaign every comment is seen as blindly partisan or simple fear-mongering. Outrageous claims are being made by all leaders that simply do not pass the smell test. There are not enough rich people around to tax to give breaks to the middle class. Trudeau is lying. The Canadian economy won’t rebound into robust growth any more than we were going to avoid a deficit in 2009. So Harper lies again. And there’s no way corporations can be taxed enough to avoid deficits while financing subsidized daycare and billions more for health care workers. Mulcair lies, too.
When it comes to houses people can’t afford and our dangerous national house porn, all three are charlatans. Harper wants to push home ownership to 72.5% and make the bubble worse. Trudeau would allow lifetime robbing of retirement savings to inflate the real estate gasbag. And Mulcair is in the realtors’ pocket, willing to let amateur landlords escape capital gains, further pushing up prices. None of them, by the way, are using this campaign to warn people away from debt, talk about interest rates, or life after oil, or outline plans for coping when there are more oxygen-sucking wrinklies than teenagers.
In short, Kellie, this is a corker. So there are just three questions to ask yourself.
First, what can I vote for, as opposed to what I can vote against? You’re right – Albertans didn’t elect Rachel Notley, but punished Jim Prentice. Most had no idea what will be coming. Too bad. There’s a giant risk in voting angry. Instead, cast a ballot for something – a fat TFSA, the environment or cheap daycare.
Second, who’s more believable? Does anyone really think squeezing a relative handful of wealthy people will give a tax break to thirty million others? In a free trade world, will corporations and jobs stay if taxes jump? If the economy’s slagging now, why would the same guys do better next year?
Third, who do you want representing you? After all, you don’t choose the prime minister. You just get a vote for the local guy. The next two weeks allow you a chance to find out about the candidates, their background, motivation and agenda. Make them work for it.
So, Kellie, it’s hard. Even for me. There is no saviour. I know Harper, Trudeau, Mulcair, May and Duceppe. I’ve been in government and opposition, blue and red. Run in four federal elections, batted 500. Ended my political career destroyed by the current prime minister. As I said before, there’s nobody more motivated than me to vote in anger.
But I won’t.
252 comments ↓
The U.S. jobs report last week made a few things abundantly clear:
1) There will be no U.S. rate increase in 2015.
2) There will be no U.S. rate increase in 2016, because:
3) The U.S. is quickly headed into a recession. Expect a U.S. recession to begin by Q116 at the earliest, Q316 at the latest.
What does this mean for the Canadian dollar?
4) The loonie will benefit a little bit in the short-run (i.e., the next week or so), but,
5) After the dismal Canadian jobs report comes out next Friday, the loonie will collapse, and decline steadily to the $0.70 range by the end of the year.
6) As it becomes apparent that a global recession has taken hold, the Canadian dollar will plummet in 2016. It will likely end the year close to $0.60, but I doubt it will breach that level for any meaningful amount of time.
Also,
7) Canadian resource companies like Teck will go bankrupt en masse, and,
8) Canadian banks will likely see their share prices halved.
Looks like Harper will win, stick with the devil you know…..
I formerly was a huge Conservative supporter. If one Googles my (real) name, there’s even pictures of me and Harper floating around on the Internet at various functions.
However, the problem with the Party is that they ran on a platform of fiscal conservatism and austerity — but they delivered anything but. Government debt has expanded significantly under the government. The CMHC has been allowed to act like a sort of drunken sailor. Private sector investors have been oppressed through the government’s approach to ‘regulating’ the telecoms and railways, among other industries. There has been no meaningful Senate reform and a number of completely unsuitable, incompetent, and probably illegal Senate appointments were made. In short, nearly everything that Stephen Harper promised, he has failed to deliver upon.
Okay, they got rid of the Canadian Wheat Board. But the dairy and egg boards still remain. Basically, Harper has said one thing when campaigning, but has done quite another. So I just don’t see the point in voting for him again — a government that cannot be trusted to fulfill on the mandate handed to it by the voters, is one which will never get my vote. At this juncture, I’d rather roll the dice on Trudeau, than to know that the economy and society is going to come up a loser (again) under Harper and his pack of ignorant rednecks (yes, Jason Kenney, I’m talking about you!).
Election, erection, whatever.
Toronto prices up over 10% YtoY.
York region, Almost 15%.
Lots of foreign money in York.
In our part of the country it’s “Anybody but Harper” right or wrong.
Quick question – how did Canadians manage to do so much better before the Harper era? We had a government that could balance budgets, personal savings accounts, RRSPs, wage growth, etc etc. Why is it that TFSAs are now the be-all and end-all, and what’s changed so much that made this the case? Wouldn’t the country survive just fine if the TFSA limit was taken back to $5000?
A homeless dog helps solve tough problems.
Great post, Garth. Don’t go to bed angry and don’t vote angry.
First ????
I always come first no matter what. You should be so lucky that I even notice you because…. I’m the most important and you know it.
It’s good to see how real men would react. I have said this before in my email to you – its a pleasure to see such an attitude from you. Thanks for your work Garth
You can dislike Harper, but he’s the ‘devil we know’. He does have the intellectual chops for the job, and Laureen, who saves animals and drives a motorcycle loves him. Somewhere, invisible to our collective scrutiny there must be some redeeming aspects to his character. In these economic times, I can’t see taking a chance on the alternatives.
I vote for this.
BEFORE YOU VOTE: “You never change things by fighting the existing reality. To change something, build a new model that makes the existing model obsolete.” “We cannot solve our problems with the same thinking we used when we created them.”
– We hold these truths to be self-evident, that all men and women are created equal, that they are endowed by their Creator, with certain unalienable Rights, that among these are, Life, Liberty and the pursuit of Happiness, that to secure these rights, Governments are instituted among Men and Women, deriving their just powers from the consent of the governed, that whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their Safety and Happiness. Prudence, indeed, will dictate that Governments long established should not be changed for light and transient causes, and accordingly all experience hath shown, that mankind are more disposed to suffer, while evils are sufferable, than to right themselves by abolishing the forms to which they are accustomed. But when a long train of abuses and usurpations, pursuing invariably the same Object evinces a design to reduce them under absolute Despotism, it is their right, it is their duty, to throw off such Government, and to provide new Guards for their future security.
Neither aiming at originality of principle or sentiment, this is intended to be an expression of the mind, and to give to that expression the proper tone and spirit called for by the occasion.
It is implicit that the granter [electorate] retains superiority and that the recipient [elected official and his/her agents] admits to a limited [or inferior] [and not a prerogative] status within the relationship.
” In the recent provincial election, we voted a party out….plain and simple. And look where that’s gotten us!”
Kellie, as a fellow Albertan, I have no idea what you are talking about. Notley’s NDP has been in power for half a year. There has been no visible changes other than a minor adjustment to the corp tax rate, from which none of the corporations really flinched. But we will have less corruption and a more transparent gov’t.
What else has it gotten us so far? Smaller classroom sizes, which is important if you have kids, or if you want a well-educated future workforce which will pay the taxes to cover your massive health care expenses as you get older. When my parents went to high school in Alberta, year 12 class sizes were roughly 22-26. When I went to high school in the 90’s, it was ~30. In 2015 in Calgary, a math class often has over 40.
That’s what I, and many Albertans, voted for. A future for our children that includes quality public education.
And as for the federal elections, all 3 have terrible economic policies. I think we can all agree on that, to some degree or another.
However, only one party is virulently anti-science, anti-women, and anti-diversity. Last I checked, these 3 factors will have a significant impact on what our economic future will be.
Thanks, Garth. This helped me a lot.
I need to learn a lot more about my local politicians before I vote.
Let me guess… TFSA or world peace?
Maybe the self-centered, smaller minded option?
Usually safer and yields 6% statistically.
My fellow country man, George Soros would probably go with the world peace and a handsome overnight billion profit.
We can’t help but love excitement and risk.
Word peace is an extra bonus.
#PoliSci101,Or… #LifeReallyDoesImitateArt…
#Speeches…
https://youtu.be/wmltOTdkIxw
#Reality…
https://youtu.be/myEpap3TxVs
Here is my dilemma…
What Canadian ‘leader’ is actually going to:
1) Oppt out of TPP.
2) Kill, bill C-51
3) End Canadian military adventures on foreign soil.
Your given a choice on issues that big picture, don’t mean shit, like balancing budgets or tax changes, but on issues that will really affect ours and our children’s lives going forward, there is no choice.
Fake democracy in action.
Excellent post today.
Right on the money.
Made the mistake of voting ‘against’ instead of voting ‘for’ in the recent Alberta election.
Only saving grace was that the candidate I voted for, actually lost.
I had decided to vote against PC’s because I was not happy with Harper and others in the party.
But now that I see the policies of NDP and Libs, I cannot vote for them.
Will vote ‘for’ PC.
Harper will be gone within 2 years anyway.
Stephen Harper may not be perfect but he’s by far, the best of the 3 choices.
I fully support deporting convicted terrorists and Harper is the only guy who’s willing to do that. I am voting for him on this one issue alone.
I want the NDP to get it, but I also know that America is slipping into a recession and as they go down the tubes so will Canada.
Who ever is in power in 2 years is going to get the blame for one of the worst recessions in Canada’s history. I don’t want an innocent guy who just came in to get all of the blame so I’m kind of glad that Harper is going to still be in power when the Sh!t hits the fan (SHTF) because everyone hates him anyways, so it cannot get any worse for him can it?
Minority govt. Couple of years to see how it unfolds. Whether somebody shows leadership. Certainly don’t have it now.
Cons need to ditch the millstone. 10 years of prehistoric governance is quite enough thanks very much.
TPP: just the latest tool by the Conservatives to give more control to the multi-national corporations and the 1%’ers at the expense of the average Canadian.
With all the trade deals that Harper has signed, exports have dropped, wages have dropped, unemployment has risen, standard of living has dropped, the dollar has dropped. What did we get in return? More cheap crap from China at the local Dollarama and Walmart.
Seriously, is the $10,000 TFSA limit the only thing the Cons have going for them? Conservative voters sell their ballot cheaply.
“I have no particular regrets. The (US) housing bubble is not a reflection of what we did, as it is a global phenomenon.” – Alan Greenspan
In 2011, The Economist wrote that Canada’s housing market was more overvalued than the US at its peak. (November 25, 2011).
Since 2011, Canada’s housing bubble has continued to grow and is now, perhaps, the biggest housing bubble the world has seen. Continued action for well over a decade (more of it in 2015) has fueled the inflation of Canada’s bubble. The rest of the world recognizes this as a big problem for the future of the Canadian economy and household finances of Canadian families.
There is no example of a national housing bubble (for example, the US, Japan, Ireland, Iceland, Spain, Greece, etc.) that deflated in a safe, controlled (soft landing) manner.
Experts around the globe have warned Canada of what happens when a country takes action to inflate a housing bubble the way Canada has. Canada has, for the most part, ignored these objective and well-researched warnings.
The following metrics are the most important when gauging the size of a housing bubble. Using these metrics, it is obvious that Canada’s housing bubble is much larger than the 2006 US housing bubble. Let’s compare.
Keep in mind that incomes in Canada and the US are approximately the same and have been for a long time.
1. Overall increase in house prices (first chart):
Canada: —– + 124% —– (from 2000 to 2013)
US: —– + 53% —– (from 2000 to 2006 peak)
2. Increase in price-to-income ratio (first chart):
Canada: + —– + 56% —– (from 2000 to late 2011)
US: —– + 24% —– (from 2000 to peak)
3. Increase in price-to-rent ratio (second chart):
Canada: —– + 73% —– (from 2000 to late 2011)
US: —– + 35% —– (from 2000 to peak)
4. Increase in household debt-to-income ratio (third chart):
Canada: —– + 53% —– (from 2000 to 2013)
US: —– + 41% —– (from 2000 to peak)
5. Increase in percent of labour force employed in construction (first chart):
Canada: —– + 43% —– (from 2000 to 2012)
US: —– + 10% —– (from 2000 to peak)
6. Increase in residential construction as a percent of GDP (second chart):
Canada: —– + 56% —– (from 2000 to 2011)
US: —– + 38% —– (from 2000 to peak)
7. Increase in real estate investment as a percent of GDP (second chart):
Canada: —– + 63% —– (from 2000 to 2012)
US: —– + 41% —– (from 2000 to peak)
8. Canada’s home ownership rate is at a record level (70%) and is higher than the US peak ownership rate (69%).
9. HELOC debt
Canada: —– HELOCSs amounted to 14% of GDP —– (at the end of 2013)
US: —– HELOCSs amounted to 5% of GDP —– (at peak)
Taking action to create and maintain a housing bubble may mask the economic problems of a country in the short term, but it creates even bigger problems for the country in the long term.
Don’t despair Garth. The only poll which counts is election day and pocket books. The NDP had the highest number of campaign contributors ever. To any political party! $10.00 at a time. Didn’t get the press it deserved.
http://www.ndp.ca/you-just-made-history
@#17 Blacksheep: Mulcair claims he will do all three.
Whether or not you believe he would keep those promises in power is up to you. (I certainly don’t believe him.)
It’s a real case of careful what you wish for. I don’t want Harper to have another majority but really can’t vote for the other two candidates in my riding after watching their debate. The careful part is that every minority situation possible likely blows up quickly, costs us another half billion for another election and then the CPC is the only party well financed enough to mount a campaign.
By the way Kellie the 401 is like the Deerfoot only 16 lanes wide at it’s widest and each lane plugged full of idiots that all know they should be first.
If you’re not angry, then you’re not paying attention.
Who to vote for…
It’s the elephant in the room, the question on everyone’s mind.
My wife and I have watched all the big debates so CPAC, and we still have a pro/con list foggy decision of who warrants our votes. Each party is good and bad, there are no clear choices.
So, on election day, I’ll vote for what I don’t want rather than what I do want.
My wife is leaning Liberal. I am too as I won’t go Harper, C-51 bill is just too much. So it’s Lib or Green Party, Liberal is most likely will be though.
Well Kellie & Garth-
First If I lived in Calgary I would be plenty worried as well.
Not over who will governing your country, but the fact your town’s base for existence is threatened with cheap oil at the present time.
Second, I would vote for the best local PM in my riding whatever their stripe.
Your curent PM as has, as my current president and his predecessor said one line, and delivered quite another!
Bush, the “conservative” was anything but. Obama the “liberal” is anything but- following the Bush B.S. like a bad script. Polly-Tics has strange effects on those elected. The most wild-ass often are anything except. The conservative often not the goods advertised.
Frankly, I vote my principles and my pocketbook. Yes, I have been disappointed, but there have been wonderful surprises, too. Never be afraid of what’s important to YOU, and then convey that message to the MP’s running for office. See who might be listening, rather than reading a script. Voter your convictions, pocketbook, and pray a bit, too. (never hurts).
Remember:
There is no surf in Cleveland.
No politician remembers what they promised.
You must never forget what they have delivered.
Taxes will never go down. Ask less, get taxed less. Simple!
No idiot is forever. No Great Leader is, either.
Life is short, read the obituaries, and be warned.
Always exercise your right & Duty to vote!
Voting preserves your sacred right to complain!
“None of them, by the way, are using this campaign to warn people away from debt”
Funny how that goes, a bank pulls back on debt availability and community leaders and politicians go nuts!
http://www.idiottax.net/2015/10/restrictions.html
Back at those days… you had to vote for them, but you could cast the vote angry.
There is a way to vote for something…
You can return your vote empty – meaning there was no candidate good enough for your trust.
If voters in huge number do the same, the election might become invalid, forcing a second election – where the parties might be pushed to revise their position.
“Victoria Real Estate Update “
You might also want to add that in Canada, 40% of the mortgages are adjustable rate overnight, and the other 60% typically adjust at 5 years or less. Compare and contrast this with the United States which had a solid base of properties financed with 30-year term debt.
I don’t have statistics handy, but the Canadian RE market is incredibly vulnerable to interest rate shifts on a scale far greater than that experienced in the US. I think people want to think that interest rates can only shift on account of central bank policy action, but in reality, credit-worthiness is also a significant factor that is poorly understood by the RE sell-side community.
(or maybe they do understand it, but their continued livelihood depends upon not acknowledging what will inevitably happen as the credit cycle turns against the particular type of collateral they’re hawking loans against!).
Sad but true.
Crazy thing is if we had a generic party in power, and had to vote solely who would lead that party, i bet May would poll first and Duceppe second.
Stop Garth
The wealthy were wealthy before TFSAs, before they taxed income trusts, etc.
That’s the thing about wealthy people…. They’ll be just fine under whoever wins Oct 19th.
I want to do my duty and vote on October 19th, but I’m feeling politically paralyzed!
it’s hard to choose when the political strategies converge
by way of introduction here’s the movie MoneyBall:
http://www.imdb.com/title/tt1210166/?ref_=nv_sr_1
the main character Billy Beane played by Brad Pitt discovers Peter Brand who does statistical analysis to find the players with the best value ( baseball results per dollar ) Now this strategy works best when you’re the first one to do it. Once it’s adopted across the league you don’t have an advantage any longer. Or less and less an advantage as time goes on.
What we’re seeing is statistical analysis applied to voting. This article supports this theory:
Race to the middle: Rhetoric aside, the major parties have near unanimity on key policies
http://www.ottawacitizen.com/news/national/race+middle+rhetoric+aside+major+parties+have+near+unanimity/11413871/story.html
and a quote: The answer lies in the groundbreaking work of a former Conservative strategist, Patrick Muttart, and the two smart political operatives who’ve adopted his data-driven methods — Brad Lavigne of the NDP and Gerald Butts of the Liberals. It is no surprise, given the three major parties’ strategies are built around market information gathered from the same populace, that their platforms now look similar. What’s remarkable is that there remain any variances at all.
so what? There is no saviour. I’ve posted my frustration with trying to maintain the Canadian Soil Information Service. Election night will be all about the party who identified and successfully appealed to the 1 million swing voters. So the result will do absolutely nothing for the Canadian Soil Information Service.
http://www.greaterfool.ca/2015/09/23/lets-vote/comment-page-5/#comment-399233
I’m one of the Prentice Punishers who ‘voted the bums out’ thinking how much damage could the NDP do in 4 years? Eeesh, my question was answered pretty darned well. That being said, I still think a 4 year savaging of the Alberta economy will be good for it in the long term when we get another provincial Conservative government back who at least fears a bit of punishment for the temptation of entitlement. I’m now *hoping* for short term pain for long term gain.
There is no point in me voting this year.
I live in the Vancouver Kingsway riding and the neighbourhood is awash with orange.
Don Davies will get 60% of the vote .
This area has been this way since the infamous David Emerson wiped his backside on his constituents.
I want to keep the TSFA limit at 10k but I will survive either way.
Garth is a true patriot.
Treasury Sells 3-Month Bills At 0% Yield For First Time Ever
“Investors” are so desperate to hold on to short-term paper that they paid $100 for a 3-month Treasury-bill at today’s auction. That is a 0% yield – for the first time ever – lower even than the auction right after Lehman’s bankruptcy in Nov 2008.
http://www.zerohedge.com/news/2015-10-05/treasury-sells-3-month-bills-0-yield-first-time-ever
Well the negotiations on the Trans Pacific Partnership (the TPP) has been completed. Harper had completed his final sellout of Canadian sovereignty. The TPP and bill C-51 (the police state bill) have put the final nail in the coffin of Canada. This quisling is in the process of destroying Canada as we knew it, and all most people can think about is their TFSAs. I think I’m going to be sick to my stomach!
I want the TFSA from the Conservatives, the Universal Daycare from the NDP and do nothing too far right or left attitude from the Liberals.
What is the likelihood of that occurring anytime soon?
The Cons increased the TFSA limit but they took away a couple of years of OAS payments.
They give with one hand, and take away with the other, thinking no one will notice.
My coffee (in a cafe) has gone up 33% this year in AB. I’m pretty sure the 14% increase this week is directly related to the increase in the minimum wage.
Look at this article I think angry Tom has finally cooked his goose for good the way he is choosing sides.http://www.theglobeandmail.com/report-on-business/rob-commentary/whatever-its-contents-mulcairs-against-the-tpp-deal/article26670569/
Good thing, I need my investments to turn around, not go in the toilet with an ndp win.
#1 Loonie Watcher Sure hope you’re not betting against the Loonie.Russia will join OPEC along with a few other oil producing countries and oil could see $150 a barrel in a nanosecond. Suncor’s telltale move today signals changing conditions.Loonie back to 85 US pennies soon. All aboard!
To be honest i have long been a critic of party politics and still question how such a system even begins to represent the views, issues and concerns raised by the public.
Harper has his financial merit but i for one cannot vote for someone who rejects science and embraces ideology.
Its that simple.
Mr R.
Voting should be done by all as it is a hard fought right! Just because we have lost faith in the political parties still does not mean not voting! Go to your local events and listen to your local candidates! You can make a better decision if you forget about Harper/Trudeau/Mulclair! Focus on what the local candidates want and promise to do! Then, pick up the phone if they don’t follow through! Sure, we all don’t have the time but that’s a cop out! Wake these guys up and earn the fat paycheques and pensions! These guys shouldn’t win by cheesy adds! This country is on the brink! Let’s get involved!
Suncor makes bid worth $6.6B to take over Canadian Oil Sands
http://calgaryherald.com/business/energy/suncor-makes-bid-worth-6-6b-to-take-over-canadian-oil-sands
I find this post disturbing on so many levels.
Clearly our definition and implementation of “democracy” has reached the end of both it’s usefulness and effectiveness.
Our government is truly corrupt…petty people peddling in lies, addiction and financial shenanigans.
It’s time for something new.
It’s sad when so many people decry all three of the potential governments. Many who vote for one party or another are voting against the government, or against a change of government.
None of the three really offer an inspiring vision of Canada. Harper offers nothing substantive for the majority of Canadians, tosses a couple more bones for the well off/high income cohort and promises I won’t be as bad as the alternatives. Wow. What a non call to action.
Trudeau at least lays out a plan of investment and admits that he will run deficits and taxes will increase. Frankly, that takes a political honesty and courage that few Canadians have exhibited. Yet the strategy of infrastructure investment doesn’t offer any new direction for the economy and feels uninspired.
Mulcair offers a balanced budget, but you do question if he really can fulfill those promises at the same time. He is counting on fairer winds than most economists are predicting at these times.
After this many years in power, it’s traditional to throw out the governing party. Too long in government, first arrogance then the rot sets in. Disconnection from the people, disrespect for what little democracy exists in our system. Re election would send the wrong signal to the wrong people at the wrong time. Can’t offer an affirmation to this crew, sorry this one man elected dictatorship. Sadly, the alternatives have genuine risks to them.
Tonight is the Ottawa debate hosted by the mayor and every party is sending a representative except for the H- Cons. They claim they will be too busy knocking on doors but Ottawa peeps think that is lame.
Garth you know politics, what is the logic of the H Con party when they decide en mass to not show up for debates?
All these stupid polls. Up and down every day pretty much like the stock market indexes. Are they meaningful? In all my years I have never once been contacted to participate in one. Nor have I ever heard of anyone who was contacted to participate in one. I think they are all made up.
I like the TFSA but not enough to worry about it being cut back to $5500. I’m voting on foreign policy which most definitely excludes harper from any consideration of my vote. On so many issues (including bad hair), harper’s gotta go.
HELP STAY THE COURSE, KELLIE
What human institution is perfect in every way?
None.
So, you go with what you know in these uncertain times.
Those who voted in the NDP in Alberta made a huge error and they will be suffering for years to come.
BC voters felt similar pangs after they elected NDP governments in 1972, 1991, and 1996.
Since 2001 no NDP government has been returned to power in BC. That’s saying a lot, isn’t it Kellie?
Federal Liberal and NDP promises of something for nothing are make-believe.
Most promises will never come to pass because there is no money to pay for them.
But for those few promises that do materialize, higher taxes will be the order of the day for years to come.
Nice.
Look at the precarious world economic situation as Mr. Harper keeps reminding us.
There is no more job security, in fact not much security of any kind these days (excepting for the security of your family), because that’s just the way of the world at this time. It’s not Mr. Harper’s fault.
As I’ve written here before, you may not like the way the current skipper commands the Good Ship Canada, but he has gotten us through some major Cat 5 economic storms.
And more’s to come.
Stick with what you already know, Kellie, and we’ll see what happens after October 19.
https://youtu.be/c5BL4RNFr58
Smoking in a non smoking room.
The reason why most political promises turn out to be ‘lies’ is that politicians (especially leaders) have very little understanding of how the machinery of government works. Even the people who write the talking points have never filed their own taxes.
Modern politics is a game of ‘liar’s poker’. The problem is that too many in the electorate lack the experience to differentiate between the radical, the ideological, and the blatantly infeasible, in order to make an informed decision about what best to expect from this election.
Here, Garth’s insights are invaluable:
1) There aren’t enough rich people to fund to give the middle class a tax cut. Infeasible; but then again, not a platform plank that appealed to me, anyway.
2) $15 a day day care? They’re going to have to line up a lot of ducks (from multiple levels of government) to make that happen, so improbable. What else have you got, and can I live with that?
3) Harper’s problem is that he’s running on his record; things that may have seemed infeasible, or improbable, turned out to be ideologically driven.
oh man, people, you cannot solve your problems by going to a gym and ticking a box
It doesnt matter who wins the election, all you are voting for is a spokesperson, who cares who that is?
You have to do the work yourself and figure out what it is to be human and not accept limits placed on you
Figure out that there is a huge difference between how society works and how the Universe works
They’re prerry much reciprocals of each other
That should give ambitious folks a start…
oh my god please let it end.
grown adults arguing over which poster boy will appear on the covers of “You’re All Screwed” magazine.
propaganda.. will it ever stop working?
history.. will people ever learn it?
freedom .. does anyone know what it is?
truth .. can we get back to a time when it was a noble thing to stand for it?
priorities, integrity, courage: GET SOME
# 33 Mark
Indeed that is a part of the total picture for Canada that is rarely talked about. Overall, US 30-year mortgages insulated US mortgage holders from rising rates and was, therefore, something that actually helped prevent prices from falling even further. Canadian mortgage holders, on the other hand, can’t hide from rising rates with variable rate and 5-year (or less) mortgages.
Boston, lots of jogging, not much phyco cycling.
My take, people can’t drive here. Lots of road kill.
Jobs going good, new boss says memorize a two inch thick manual, I’m thinking the 26 Oz JD going down in one gulp tonight, I’m doomed.
Then I met the billionaire owner of this firm , who also has a phyco pathic Scottish wife. He loves my wife’s cousins band, red hot chillie pippers.
We bonded. Toronto office is just moments away from my suggestion.
Fk the manual.
Dyslexic plan b
Sam the Sham: Harper had completed his final sellout of Canadian sovereignty. The TPP and bill C-51 (the police state bill) have put the final nail in the coffin of Canada. This quisling is in the process of destroying Canada
totally unjustified! Having made the accusation, it’s up to you to provide proof – something more than you don’t like him.
https://www.youtube.com/watch?v=bljDuYUV-Y4
Ready or not, here he comes.
Unless the NDP can quickly stanch the wound, voters are going to bleed to the red guys. Strategic voting among the anyone but Harper bloc will kick in, in a positive feedback loop.
The TPP probably won’t help. Benefits will be diffuse (cheaper Audis? A less compelling prospect than a few weeks ago) but losses will be concentrated. Harper loses a few seats in Quebec, a few in Ontario…
Those two issues, and that’s the ballgame. The only question is whether it’ll be a minority or a majority. Don’t shoot he messenger.
Aside from the question of who we might want to vote for (and I’m a huge fan of electing a local candidate of value, because the leaders have so little this time around), how do you figure a Harper minority might string together a two-year government? As snippy as Trudeau and Mulcair have been toward one another this past month, I don’t really think either can let the Conservatives survive beyond the throne speech. If the CPC comes first, the Governor-General will be asking 2nd place to form a government by March, I really do believe. Sooner, if the PM who has been so good at avoiding the judgement of confidence motions finds the nerve to sit Parliament before Christmas.
After talking to your local candidates, bear in mind that when the chips are down they will, usually toe the party line. As per sample, this year we had an Italian who was soiling his diapers in 1942, at that same time young Canadians kids were fighting and dying on Italy trying to save him, his family and countrymen. Move over to 2015 and that same Italian, now a Canadian PC politician toe the party line when dealing with our veterans. Actually playing hardball with the now very old veterans, who may have saved his skin. All to toe the party line of the day. Peach it!
Brain fart. TPP won’t do much for the price of Audis, only Toyotas.
Diane watts, former mayor of surrey, BC, and now conservative candidate, was on the radio today bragging about keeping the TFSA limit higher. The cons definitely know that their base is behind them on that issue.
The cons are moving up in the polls now. I predicted here in the GF comments section, to some ridicule and libel, that the cons would go up in the polls because of their tougher stance on unscreened mass immigration, and a week later they were up three points. It could be coincidence but I suspect not. Quebec is more, as Garth would say, “xenophobic” and Stevolf Harpler is scoring some brownie points with head scarfs and immigration. The SJWs are crying “Shame on you!”, but a vote is a vote and the anointed one doesn’t care too much, as long as he gets the votes.
Mulcair made a big blunder when he had a race card dealing love-in with Winnepeg’s mayor of cucks (who once broke down in supplicating tears as he accepted personal responsibility for Winnipeg being declared the most racist city in Canada) over the missing aboriginal women inquiry.
Justin advocating for ever more unscreened mass immigration and wanting to tax business and individuals as some form of punishment hurts his chances as well.
As for me, I dislike all of them, including Elizabeth May, mostly because of her drunken public sanctification of Omar Khadr.
I doubt I’ll be voting this time through. Maybe I’ll vote for the communists just for fun.
Truly another nail in Harpers coffin. TPP (toilet paper partnership) that is about the only use for that rag once he signs it. Can you believe what this a$$ just did? As I eluded to on this very blog recently that he would offshore whatever remained of manufacturing jobs. Good thing Mcdonalds is coming up with a new burger option as it will be the only jobs this country will see.
A classic Harper move. Try to convince sheeple that this is the best thing since sliced bread and that they have to sign it into place before any details will be released. I can only imagine the “secrets” that will haunt the labour force in this country for the next however many years. An ugly comparison to Mulroneys 80’s free trade agreement that still impedes our economy to this day.
Thank god voting day is coming we can’t take any more of this economic sabotage by this character. He will certainly not be missed. Lined his pockets from this crooked agreement. October 19 can’t come quick enough.
$250,000.
One quarter of a million bucks.
This is what one east van flipper just made in a few months on a single teardown .
I posted here when our friends sold it for 2.05 M
It immediately went back on market for 2,5. which i said was nutso at the time .
well it just sold, under ask at 2.3 but exactly 250k higher than a bidding war got for it in the summer. no improvments.
so while many here had been crying, for years, of a crash >50% for van, this summer the right move was lever to the max for van dirt.
anybody here make that since canada day by doing nothing?
12% in over 4 months is 36%annual.
sure mark, it’s the sales mix.
#47 Mr. Reality:
“Harper has his financial merit but i for one cannot vote for someone who rejects science and embraces ideology.”
———-
Exactly.
Think which party will use “actual best evidence” (based on science, based on a functional Statistics Canada office) to inform their social, economic, and environmental policies.
The answer is not Stephen Harper’ Conservatives.
#9 Freedom First
This is not me, it is an impostor.
I am a loving and kind man. Heart of gold. First. But not selfish. #9-FU
Wow ! …. #1 Loonie Watcher has a crystal ball ….
Good to see that the niqab ban is being overturned. We allow people to express freedom of religion on every other day of their existence in Canada, but when it comes to appearing in public to take an oath the government has the right to infringe on the individual’s rights? Don’t think so.
#159 joblo on 10.05.15 at 2:43 pm
#147 Bush Doctor Mon on 10.05.15 at 1:10 pm
Love the “whales swimming down Robson”
Too funny!
————————
you guys get out much? you could smell him from robson today.
http://www.vancitybuzz.com/2015/10/grey-whale-spotted-in-vancouver-for-4th-day-in-a-row-photos-videos/
What does tonight’s post suggest ??? Well, that we have entered a Post-Nation world where all you get to vote for are trivial matters.
The moment a man becomes an honored Man.
It’s the day when your a way from home and value a few good shot if JD vs a short term rental on backpage.
Morality bitches and I’m into the preast hood now.
@sue.
You have been brainwashed.
Turn off your TV.
Of course you may be in the majority.
Mistake #1 is believing Harpo Marx:
“I did, l did see a Tewowist”
#12 Cowpoke on 10.05.15 at 6:18 pm
Jefferson thought the constitution should expire every 19 years – essentially that is a change of generation.
Jefferson was adamant about taxation without representation hence the constitution expiring every 19 years. For example, we are paying taxes now for things that were passed decades, or generations, ago. This is essentially taxation without representation.
He also meant that the people are the government or in other words, that the people are the sovereign. No government is above the people.
I guess all this doesn’t matter now.
@Freedom First#9
“I always come first no matter what”
As one of the gals on this blog, I am absolutely certain that is the case.
#32 What you can do… on 10.05.15 at 6:54 pm
There is a way to vote for something…
You can return your vote empty – meaning there was no candidate good enough for your trust.
Question: if you return your vote empty, how can you be sure it doesn’t get used by whoever eventually counts the ballots? How does this work, its the 2nd time I hear about it on this blog and I am very very tempted to pose that gesture on election day.
#161 S.Bby on 10.05.15 at 3:48 pm
Most areas in Vancouver you would never even talk to your neighbours…
——————————
except all of east van.
you should try it sometime!
Re: #46 broader mind on 10.05.15 at 7:14 pm
If oil goes back up in price it won’t happen until after the U.S. election in 2016. I truly believe Obama did some under the table deals with the OPEC nations so consequently oil won’t go up until after he’s voted out of power.
Summa summarum:
Stephen Harper, as Prime Minister, has been a calamity to Canada. To all Canadians! Period.
Don’t believe me? Here is but just one comment by those in the know:
“Parliament has become so undermined [under Harper] that it is almost unable to do the job that people expect of it.” – Former auditor general Sheila Fraser
F.S. – Calgary, Alberta.
GT, do you truly believe the abuse of CMHC and the Trans-Pacific partnership agreement are good for Canadian businesses?
Please explain why.
Voting intentions have barely changed.
It’s the MSM trying to artificially pump the NDP vote at the expense of Liberals. The goal of Bay Street and the Conservatives is to have a perfect 50-50 split between these 2 parties.
And it’s going to work until people realize the NDP are cons in sheeps clothing.
#172 family beagle on 10.05.15 at 6:40 pm
Vancouver has one thing… people and all the disgusting self absorbed filth they generate.
———————–
sooo, you don’t like people?
easy – go back to Thompson Nicola
there, now you can relax and stop streessing ;)
This blog condoning the last decade of policies (based on most here supporting Conservatives) have nothing to complain about.
I don’t want to here one thing about interest rates being too low, or CMHC being to lax, or any anti-Harper talk. There is a clause in the new TPP that any slandering of politicians or corporations will become a criminal matter
“What Canadian ‘leader’ is actually going to:
1) Oppt out of TPP.
2) Kill, bill C-51
3) End Canadian military adventures on foreign soil. ”
Answer: Nobody (despite what they say)
#11: “You can dislike Harper, but he’s the ‘devil we know’. He does have the intellectual chops for the job…”
**********************
No, he doesn’t. He’s devious, untrustworthy….. Lousy ‘economist’. And these other two? Promises are made to be broken — I take it all with a grain of salt.
#11: “….and Laureen, who saves animals and drives a motorcycle loves him.”
**************
Well, THAT is important…..
Garth seems to think only 3 issues matter this election. His beloved tfsa not being tampered with, not taxing the wealthy (him self including among the wealthy) and not raising taxes on businesses.
Gee i guess that’s all there is to this election eh garth?
I mentioned health care, the environment, day care, government spending, real estate policy, economic growth, corruption, along with personal and corporate tax policy. I omitted the need for a national reading comprehension policy. Apologies. — Garth
5G a year.
It’s kind of ridiculously low price to buy vote in a G7 country.
“well it just sold, under ask at 2.3 but exactly 250k higher than a bidding war got for it in the summer. no improvments.”
Probably 5% of that 2.5M went to transactional costs. And the flipper certainly did have a cost of capital and hence, required a return on capital.
Anyways, we’re just talking about such a limited number of houses here for which such is possible. To generalize such over the entire population of Vancouver (or Canadian) housing would be like claiming that stock investors got rich today because Canadian Oilsands went up 55%. Yes, the COS owners did see their investment go up by 55%, but COS itself only represents significantly less than 1% of the publicly traded investment universe. An index investor (ie: XIU owner) lost more in Valeant (VRX) than they made in COS if you look at index weightings. Just like those high-end properties, although they make for great headlines, are a very small chunk of the overall property base in Vancouver and even in Canada. And certainly are not going up enough to mask the overall downwards pricing trend in Canadian RE seen over the past few years.
Dear Pathetic Blog: and believe me it has been pathetic lately. Other than this last provincial vote which turned into a disaster here in Alta the electorate at the polling booth vote with their wallet. I want mine to stay relatively intact therefore I will vote holding my nose for control freak Harper.
It is not best to give control to our brightest and most successful people and entities?
I am not sure which trade deals you are referring to but free trade is better than no trade. Less trade is the alternative to trade deals. Canada is a rounding error on global GDP and population. Nobody cares if they trade with Canada or not. Canada is the one that benefits by selling our commodities and goods to much larger markets, plus it keeps the cost of living down on goods we purchase. For example our housing market is 100% Canadian and local. How has that worked out? Wouldn’t it be nice if there was some global competition? Be careful what you wish for. Just because we opt out of a trade deal does not mean things continue to be the same after. Canada would be quickly forgotten and left further behind.
#78 Binder Dundat
See my Post #70. I corrected the impostor of #9.
#84 Game is rigged
“NDP are cons in sheep’s clothing”
Please do not insult sheep.
Sometimes the situation is so bad we have to vote against someone.
But at the same time we can vote FOR something.
The Conservatives under Harper have become so vile that we have no choice but to send them to the wood shed.
Their world view is so distorted that they have suffered, what is it now, 43 defeats and counting before the courts-a record unparalleled in modern history–maybe King John was worse back in 1215 but I couldn’t say.
So let’s vote for honesty in Govt., let us vote for respect for our parliamentary traditions. Let’s vote for honest and trustworthy MP’s who are more than quivering lap dogs infant of Harper, wetting the floor because they fear his venom.
And lets vote for something rather than the voodoo economics of the Rabid Right. The whole science of Macro-economics has flourished since the great depression and we do not have to follow the path of Herbert Hoover and R.B.Bennett, that other Calgarian noted for being the second worst Prime Minister in Canadian history.
Mulcair offers us the best chance of a radical re-write of the political system as perverted by Stephen Harper, but his unwillingness to contemplate a deficit to get us out of infrastructure wreck is a demerit.
If Obama had not embraced the advice of his economic advisors, the US would have not recovered the way it did since 2008. Remember, the right under Little Georgie had left the US in a mess, unlike in Canada where Harper inherited strong budget surpluses—which he promptly proceeded to piss away.
Harper has led us from one financial disaster to another while the US economy, under the management of post medieval economics, has continued to grow and prosper.
Most Conservatives are lost in the 17th century and are merely out of touch. Garth appears to also be a masochist who is going back to be kicked again.
Garth, you can be a man.
“Third, who do you want representing you? After all, you don’t choose the prime minister. You just get a vote for the local guy. ”
I hate to have to bring this up again, but when you vote for a CPC candidate, that candidate will not represent you to parliament, he will represent Mr. Harper’s will to you. If you’re good with that, go to it.
Best thing about tonight’s comments?
No one is taking a shot at Garth for his logical prediction on US interest rate hikes that shouda, couda, wouda been here except for a bubble loving FED.
Whoever gets in for the next 10 years has a hope in hell with our demographics…but please let it be anyone but Harper…Please…
All 3 choices for various reasons are outright terrible. This election isn’t about picking the best candidate. It’s about picking the one that sucks the least. All governments do something to piss the electorate off. Unavoidable. The Cons actually have done some good stuff, problem is Harper comes across as so arrogant and they are terrible at communicating their accomplishments.
For me, I’m going to pick the party that can benefit me the most. The Cons are letting me grow more of my money tax free so I can have a chance at a decent retirement instead of having to be a Walmart greeter when I’m 70. +1 Cons.
I also support bombing ISIS into the stone age, whereas the other two parties want to run away, making us look like douches to our allies. It is a fundamental part of our beliefs that we as a nation are willing to defend those who cannot defend themselves. We don’t run away from evil. We confront it and destroy it, while protecting the defenseless. +1 Cons.
Too many lefties treat corporations as an enemy to be squeezed. Corps in this country are our allies, not our enemies. They provide many good jobs and contribute to our quality of life and to the wealth of this great country. Squeezing the piss out of them for tax dollars will have an opposite effect; companies WILL respond to their bottom lines being threatened. Usually, that will be job cuts. Mulcair and Trudeau want to squeeze them, and they’re not telling you it may cost you your job. Pass. +1 Cons.
There are way more issues to think about than what I’ve presented here, but for me, the choice is so clear. They are all terrible, but Cons are the best of the worst.
John in Mtl: if you return your vote empty, how can you be sure it doesn’t get used by whoever eventually counts the ballots?
in two elections, I was a scrutineer
https://en.wikipedia.org/wiki/Scrutineer
first the polls close, then the ballots are counted. Counting them are the paid workers plus representatives of the candidates. Each ballot is displayed for all to see. At this point, anyone present can ask for a second look. Then the count is added to the chosen candidate. In my experience, counting hundreds of ballots there is no disagreement. In any case the ballots are saved in case of a review. Once the counting is completed the results are phoned in to the election headquarters. The scrutineers phone in the results to their own headquarters. Everybody goes home.
Is there a chance we could lose the 10K room in the TFSA for 2015?
“…..Third, who do you want representing you? After all, you don’t choose the prime minister. You just get a vote for the local guy…….”
_________________________
Given that Harper has steadfastly refused to acknowledge the opinions of his backbenchers, preferring instead, an orchestra of trained seals to clap in sync with his twisted, hypocritical ideology, a vote for the Harper ‘local guy’, regardless of any integrity, is a completely wasted vote. In fact, if history is any lesson, MP integrity appears to be inversely proportionate to the qualifications necessary to become a Harper appointee, both in the Commons and the Senate.
If I have to vote FOR something, I’ll be voting FOR a true (c)onservative government, the following election.
Unfortunately, this requires the removal of the current pack of (CPC)onservative herpes blisters who are currently in power.
I could probably survive the delayed increase in my TFSA contribution limit until then.
As a retired geezer going on 15 years now, I will be casting my vote for income splitting and TFSA. I believe this will be the two things that will ensure the Cons get back in power. Not that I’m a fan of Harper’s. Why would they want to get rid of something that would help lower income persons. The TFSA is one of the best things that has happened to help those without company pensions to build a nest egg and ensure a decent retirement. It is also the very thing that rectifies the inequities created by RRSP’s for persons with low incomes. What a bunch of egg heads.
Obama addresses the American people like a leader. Harper hides like a coward. If conservatives change there leader Voting would be easy maybe. I respect what Harper did this far for Canada but getting rid of people that oppose him or conflict with his agenda has been his legacy. Sorry Harp I’m hopping your dictatorship ends.
Get rid of the creep in the cardigan. Then we can spend the next twenty years fixing the damage he did. We need to fix parliament and kill the omnibus bills, have our scientists speak freely, and deploy our armed forces only as peace keepers.
Anyone but Steve
“No one is taking a shot at Garth for his logical prediction on US interest rate hikes that shouda, couda, wouda been here except for a bubble loving FED.”
People had their chance, and I think they did slam Garth for such at a previous date. But the beauty of this blog, with the exception of the obvious Troll, is that past mistakes are usually forgiven. Especially if they are not relevant to the debate du jour.
As RE prices continue to decline, and many of our friends, and even family find themselves in declining equity and increasing financial distress — I’m sure the temptation will be to say to them, “I told you so” in response to the RE profligacy that likely drove them to such predicament. But fact is, rubbing it in will only serve to alienate them. So have sympathy. Extend your helping hand if it is needed. Human relationships are far more valuable than merely being ‘right’, even if the facts were, in hindsight, plain obvious for everyone to see.
You get to do both at the same time in this particular election. Slick. ;)
#1 Loonie Watcher
You say scary things, but I like your style!
Voting ‘for’ PC. Not that Harper needs the help to stay PM. He’s got that job locked up.
Everybody else is just running for second place.
Trudeau majority on the 19th. The NDP vote is collapsing. I’m a conservative, but I can see the writing on the wall.
I find it nonsensical that anyone thinks the NDP is responsible for Alberta’s woes. They have been elected for a few months, most of those during the summer. They have not had the time to do anything substantial, good or bad. Alberta embraced a one-commodity economic plan that did well when oil prices were high, and now it sucks because it looks like it will be a while before prices recover. A PC or Wildrose government would be dealing with the same problems.
OK, no anger! Just one thorn:
The Right Honourable Stephen Harper has been heralding today, “This [TPP] deal is, without any doubt whatsoever, in the best interests of the Canadian economy,” [OK, … if you say so, Mr. Prime Minster.]
Anyway, … let’s look at just one issue – one! – with TPP: … the Investor-State Dispute Settlement provision: … this provision – critical part of the TPP – gives a foreign corporation – any foreign corporation operating in Canada – a very special right, … a right to apply to a tribunal – manned by international gaggle of corporate lawyers – for compensation whenever Canadian government passes a law, or an ordinance that, … say, negatively impacts corporate profits.
Yet, … yet Mr. Harper – the Right Honourable – considers this to be “in the best interest“! Huh?!?!
Like I said, … no anger! Just off to vote at the advanced poll on Oct. 9th. Bah, …
F.S. – Calgary, Alberta.
# Grooby
Uhh do you live on a cut line north of slave lake? Where have you been Groobs?
http://m.calgarysun.com/2015/09/29/alberta-ndp-is-sorry-for-pay-hikes-and-junkets-gaffe-they-didnt-mean-it-they-made-a-mistake-and-theyll-never-do-it-again
Just like the old PCs
Oh and what about this one?
http://www.cbc.ca/m/news/business/canadian-natural-resources-blames-ndp-for-financial-loss-1.3181541
So much for small tax increases eh?
Oh did anyone mention the stupidity of $15 per hour uproar and the devastation it will cause to the charities and small businesses.
Before you make idiotic statements you should back up your facts or atleast come out of the woods from your hunting lodge to read about reality.
#99 45north on 10.05.15 at 9:11 pm
“in two elections, I was a scrutineer “
Thank You 45north. I went off & did some reading and now have a better idea of the proper procedure.
#13 Grooby
I think that many Canadians will have to pinch their noses when voting, because in this election the choices really stink. It is plain wrong to vote for a party based on one or two factors – be they positive or negative.
I wish that we had a new force/patry/movement whose sole interest was removing bill C-51, leaving the TFSA limit unchanged, was a bit more careful in adjusting taxes, stem the debt increase at all levels, make the Canadian government issue its own money and have zero debt due to that, etc. Basically, do the right thing. But it won’t happen.
So it stinks, I say…
RE: #61 45north on 10.05.15 at 7:51 pm
Sam the Sham: Harper had completed his final sellout of Canadian sovereignty. The TPP and bill C-51 (the police state bill) have put the final nail in the coffin of Canada. This quisling is in the process of destroying Canada
totally unjustified!
I agree. Harper isn’t done selling us out yet. He needs another term to finish screwing us over.
As Garth said, the three big parties all want to further inflate the housing bubble. And, none of them have any credibke plan to save the economy. So, the smart choice is to vote out the party that got us into this mess (Harper) and vote for the party that will bring our CAD down fastests. Voting either liberals or NDP will do the job, the CAD will tank to 60 cents to the USD or even lower. Voting conservative will slow down this decline, only extending our national pain. Once our CAD hits rock bottom,mthe housing market will cool down but not crash or melt. At this point we are so appealing to foreign investors and domestic entrepreneurs that business activity will pick up again, and from there our economy will slowly come back to live again. In short, we have everything to gain from a further devaluing of the CAD, and the party that will bring it down fastest is the best choice, given that it is inevitable.
#107 Mark
Well said…. a true friend is a compassionate friend.
No one knows the future and decisions turn on a second…just sad to read “told you so” comments usually from those unwilling to stick their necks out to make well thought out predictions in the first place..
[…] Source: http://www.greaterfool.ca/2015/10/05/no-saviour/ […]
#111 Vundo
It takes time to change for the better it doesn’t take much to make things worse
Caveat emptor
RE: #102 Ole Doberman on 10.05.15 at 9:14 pm
Is there a chance we could lose the 10K room in the TFSA for 2015?
2015 is a done deal.
2016: You may be able to sneak another 10K in before the new government (hoping here) rolls it back to 5.5K or 5K
We might see true leadership emerge if we abolish the parties. Trouble is, the news media can make or break anyone by the adjectives they choose…
Since the rats are in charge of the cheese, we’re stuck with the parties, probably forever. In that case, the best we can hope for is minority government. And when the minority fails and goes to election, we should continue to send back another minority. Give them each a turn, make them all just as frustrated as the rest of us.
Dear “For Real” Freedom First,
My apologies for confusing you with a cruel imposter. I actually do admire your dedication to your own best interests but wish you could be a little less dogmatic about it. Your way of living is just a choice among many, not the only way.
Peace.
#91 5G on 10.05.15 at 8:52 pm
5G a year.
It’s kind of ridiculously low price to buy vote in a G7 country.
—————————————-
Yeah I see what your saying but who is buying the vote for 5 k.
You could argue that it’s the Libs and NDP after all the cons moved first ,the other guys didn’t have to go contrarian.
They could have said” yeah this makes sense for the middle class” and argued about other economic policy,terrorism,childcare ,tax credits yada yada .
I don’t think you have to argue EVERY policy ,pick and choose and state your case.
Libs and NDP have dropped the ball in this election for sure.
Too many rookie mistakes…
Okay Garth/Canada you want the PC’s again? Fine. But they should have to pick a new leader. No 4th term. Canada can take a cue from the electoral college. No more multiple terms for a PM. Personalities seeking power should have it curtailed.
kommykim on 10.05.15 at 9:31 pm
RE: #61 45north on 10.05.15 at 7:51 pm
Sam the Sham: Harper had completed his final sellout of Canadian sovereignty. The TPP and bill C-51 (the police state bill) have put the final nail in the coffin of Canada. This quisling is in the process of destroying Canada
kommykim – I agree. Harper isn’t done selling us out yet. He needs another term to finish screwing us over.
———-
———-
Ho Hum – just the left ranting about trade being the end of Canada.
I work in this areas for almost 20 years and saw all the end of world predictions from the likes of Maude Barlow, NDP, Centre for Policy Alternatives and labour unions.
Just a sampling of the more memorable end of world predictions by the WACKO left;
– missiles on Baffin Island (FTA)
– oil shortages due to proportional sharing (FTA, NAFTA)
– the end of municipal utilities – water, garbage collection, landscaping (FTA, NAFTA, GATTS)
– end of the public health system (FTA, NAFTA)
– end of the agricultural supply management systems (FTA, NAFTA, WTO)
– and, my all time favourite – privatization of libraries – yep those libraries are real money makers (NAFTA)
I predict the Bloc shocks everyone, steals a whole bunch of seats from the ndp simply because of the niqab issue with a Harper minority
Federal corporate taxes have dropped from 22.1% in 2007 to 15% in 2015. At the same time Canada’s federal debt has increased by $180B.
According to the OECD, corporate tax revenue has dropped from 3.4% of GDP in 2007, to 2.9% in 2012.
According to KPMG, Canada has the lowest effective corporate tax rate of all major economies.
So, can we not even increase the existing federal corporate rate from the current 15% to 16%? How many jobs did these tax increases create over the last 8 years?
Avaaz is trying to get 10 Conservative MPs beaten by calling for the third place candidates to drop out.
https://secure.avaaz.org/en/canada_stop_harper_21/
Probably could be seen as “interfering with the vote”.
Oops, I meant how many jobs were created by reducing federal corporate taxes from 22.1% to 15%?
SO WHAT DID WE GIVE UP TO PROTECT EGGS AND DAIRY
OMG, supply management is about the most 19th century thing we have going on in Canada.
Imagine having a guaranteed income for life because you have dairy quota.
But it seems the government has caved and retained protection for our uncompetitive dairy market within the Trans Pacific agreement.
That’s really unfortunate – the people it most effects are low income earners that need access to good natural foods.
BUT here’s the thing – there is NO FREE LUNCH in a trade agreement.
The other partners to the TPP would not let Canada retain ag. marketing boards without giving something up.
I have not yet heard what it is Canada gave up – during the 1980s and 1990s during FTA, NAFTA and WTO negotiations Canada threw a number of industries under the bus to protect ag marketing boards.
But, hopefully when the dust clears there will be more details about a possible phase down of marketing boards.
Canada’s poor can only hope so.
#81 Tony, although I agree that Saudi was strong armed into giving away their oil,aided by American analyst’s propaganda…the party is running on borrowed time.The feds inability to raise rates signaled a shift in the U.S.’s capability to hold down oil prices.It’s almost time to bet against America and hold a little extra Maple.
#80 bdy sktrn on 10.05.15 at 8:25 pm
East Van pumper. What took you so long? I was expecting a response earlier. Yes that was bait.
#142 Nodebtsenior on 10.05.15 at 12:39 pm
…You have all been net beneficiaries of oil and gas revenues yet we already have to tell Mom and Grandma we play piano in a house of ill repute rather than admit we work in the oilpatch.
You don’t fool your Mom. She knows you can’t play piano and have become a protestant. (Sorry, old joke.)
My best friend has just driven out from Ontario to start working on a rig in the next few weeks. No-one is under any illusions that things aren’t tough, just hoping for another season’s work.
#68 bdy sktrn on 10.05.15 at 8:08 pm
Your “friends” needed a better RE agent and probably better friends too. They lost out on $250K. And East Van is a hole.
Woohoo!! It’s coming!!!
Don’t be dismayed by any temporary change in polls.
Tom is the brightest, most stable and middle-of-the-road of the three leaders and everyone senses this.
Positive change is on the way!!!!
#172 family beagle on 10.05.15 at 6:40 pm
I have owned/resided in a condo on Haro and Jervis, West End,
An office/den in the Mews on Blood Alley, Gastown
An apt off Third in North Van
An apartment near Kingsway and Imperial, BBy
A five acre farm in Port Coquitlam
A lake view lodge in Penticton
A cabin across from a provincial park with my own wee mountain in Thompson Nicola.
I’ve worked in offices on Pender, Granville, and West Fourth, consulted on the Lions Gate Bridge upgrade, worked with the design team for the Hwy 1 upgrade, and operated three registered businesses in Vancouver, two of which consulted major publishing and advertising firms in Vancouver. I have consulted realty firms with implication on multiple millions of dollars in advertising expenditure. I have a degree in business and numerous mentions in the Georgia Strait, the old Computer Paper, the Westender, and I have been called in for interviews with Larry and Willy when they jerked at the Fox, annnnnd I’ve jammed guitar on Granville Street, and played gigs at the Niagra, the NBI, and half a dozen others. ..”
You sound like a total underachiever who does not get out enough! Maybe sign up for a Tony Robbins course to generate some self-belief?
#113 Charity
Wow. So your argument is an article from The Calgary Sun and the fact that an oil company is blaming their failures on the govt to divert attention for poor management. A sucker born every minute…
I work in oil and gas, and have worked in a number other industries. There are few industries as wasteful as oil and gas, from first hand experience. And last I checked the NDP doesn’t control the price of oil.
So please refrain from name calling as your only way to get your point across. Its not my fault you lost your job.
Victoria Real Estate Update
Taking action to create and maintain a housing bubble may mask the economic problems of a country in the short term, but it creates even bigger problems for the country in the long term.
————-
Yep the chickens always come home to roost.
The massive and inefficient diversion of Canadian resourceS (labour, commodities, personal capital, financial services…the list goes on and on) to housing from other more productive sectors, will have a profound effect on the Canadian economy and society in the future.
Of course nobody knows when but it will happen – when you try to constrain the INVISIBLE HAND it comes back to SPANK you hard.
Canada is in for and endless chain of minority governments, kind of like Italy….the only thing missing is a communist party, decent chianti, good futbol, and a bit of derringdo!
Far from a 1%er, but will hold my nose and vote for Harper and the TFSA. As a non property owner, by choice, I’d like some tax free capital gains as well.
I can fully understand those that don’t vote stating; if you give me a candidate, I’ll vote….nuff said.
#3 Mark on 10.05.15 at 6:07 pm
I formerly was a huge Conservative supporter. If one Googles my (real) name, there’s even pictures of me and Harper floating around on the Internet at various functions…”
I googled Mark and Harper and this is what I got…
https://en.wikipedia.org/wiki/Harpo_Marx
It could be a lot worse than Harper….look around the world. Would you want an unept fart catcher like Obama running the country…and running the country into the ground as the Dems have in the US? At least Harper hasn’t killed millions with a foriegn policy that engendered the creation of ISIS which in turn forced the exodus of millions of refugees. Those are Obama’s refugees you see on the nightly news…those are Obama’s dead children washing up on the beach. He inherited a relatively stable Middle East and with a swish and a lisp he turned the Muslim world into a kill zone. Harper on the other hand has saved Canada from the worst of the global recession….continued to safeguard the bloated civil service…kept immigration at a crazy level despite the fact that we can’t afford to feed the people already here. Nope….say what you want…but Harper has been good for Canada…..it could have been a mandate of race baiting and global turmoil like under Obama…..we have peace, stability and good government. None of the opposition candidates will guarantee that the way Harper does in every speech. Lets be adult about this election…..it could be a lot worse.
Hey….look at Obama’s reach into Canada with his ‘attack on oil’…we have crime due to oil worker layoffs…Harper has been trying to safeguard those jobs….while our liberal courts hear running interference from those who want Obama to rule Canada.
http://news.nationalpost.com/news/canada/out-of-work-oilpatch-workers-to-blame-for-edmontons-crime-rise-police-chief-says-and-hes-got-stats-to-prove-it
#124 Binder Dundat
No worries. Peace back.
Yes. I agree. I will work on it.
It`s rather strange. Very few people like Mr Harper yet in the polls he`s right up there with the others. Generally parties that have been in power so long are usually way down in the polls.
It reminds me of Newfoundland politics in Joey Smallwoods time. It was hard to find anyone who actually voted for him, but he always got elected !
Personally I`m going to vote Independent !
Keep Smiling !!!
The best greater fool picture ever. And I’ve seen a lot of them.
#125 For those about to flop… on 10.05.15 at 10:01 pm
#91 5G on 10.05.15 at 8:52 pm
5G a year.
It’s kind of ridiculously low price to buy vote in a G7 country.
—————————————-
Yeah I see what your saying but who is buying the vote for 5 k.
You could argue that it’s the Libs and NDP after all the cons moved first ,the other guys didn’t have to go contrarian.
They could have said” yeah this makes sense for the middle class” and argued about other economic policy,terrorism,childcare ,tax credits yada yada .
I don’t think you have to argue EVERY policy ,pick and choose and state your case.
Libs and NDP have dropped the ball in this election for sure.
Too many rookie mistakes…
====
None of this changes the fact, if you vote Cons for the 10K TFSA limit, you sold your vote for 5K.
Especially if otherwise you disapprove Harper, C-51, etc.
Bottom line: you sell your vote for 5K against all the other, possibly bigger impact concerns, in terms of the country, as a whole, you have.
Including the Cons continued support for RE, mortgages, home reno – which are supposedly grave dangers for the Canadian economy.
With the TTP coming into effect soon, the Canadian economy may get a big boost, no?
Why are we so concerned about supply management? Is this not just a wealth transfer (tax), from every Canadian who still uses dairy products to large dairy farmers? I could see it being somewhat useful originally when there were many small family farms, but now the whole system is consolidated into large corporate owners. A farmer trying to get into the business now has to pay about $25,000 upfront for the quota contracts for each cow ! Europe’s farm quota system & US Farm bill is just as bad. To me this is legalized corruption.
I went to soy & almond milk 3 years ago. Dairy milk isn’t even heart healthy, so it’s a lose/lose all around.
The words do not match the US government actions. Treasury sold 3 month T-bills at 0%. First time ever. That message speaks louder than Yellen!
As I said before, there’s nobody more motivated than me to vote in anger.
————————————————————–
How about Danny Williams? He was also Conservative and had nothing good to say about Stephen Harper, saying he’s a fraud.
Gartho baby,
Today I sold all the financial I’ve got (that made like thieves in the last 3 years) and I completed some bouillons fund from Sprotty and about 150K into Libertas :)
You think it’s about “investment” ? With these printing thieves ?
With a system that penalizes the savers and long term investors ?
Think again :)
My heart trembles with love at the memory of shorting the crap out of Nortel and Air Canada a few years back. I missed Brex.. I was young and poor :)
When I see an idiot going down my heart fills with un-christian joy, for THIS is what the Mr Market supposed to do: get rid of idots :)
I’ll let you know how it goes :)
Watched this NFB documentary, to me the only thing that changes are the faces…
Riding the Tornado – 1986
“This documentary focuses on boom-and-bust economic cycles, most notably that of Alberta oil during the ’70s and early ’80s.”
https://www.nfb.ca/film/riding_the_tornado
Hang on a minute, telling lies is a core competency of any successful politician. It’s at the epicenter of their skill set. It’s at the top of their resume. It’s what separates them from honest people. No wonder we’re always trying to vote someone out of office than voting to support someone get into office. Luckily for these folks, the Canadian voter has a short memory.
Is our gracious host ignoring the recent US jobs data?
Is he ignoring (for now) the new 0% yield on 3 month Treasuries? [Something I myself have trouble getting my head around.]
Is GT opinionless re Valeant’s upcoming “interview” with a US Senate committee, alongside of Martin Shkreli? (I doubt it very much.)
Is Garth politely refraining from comment on Yellen’s “faltering” during the last 3 min of her Amherst speech? (Probably.)
[Are House Republicans gearing up for another stupid debt ceiling debacle aproaching Dec 11th?]
– not that I don’t appreciate “our very own zombie apocalypse” and an emphasis on Canadian mortgage rates at an historically unprecedented low [not to mention Prairie yahoos, roustabouts and numbutts (sic)] all stuff miles ahead of MSM.
BUT speculation as to the results of the Oct election: with two weeks to go, my attitude is que sera sera; I think I’m more interested in the BoC statement the next day.
“Third, who do you want representing you? After all, you don’t choose the prime minister. You just get a vote for the local guy. The next two weeks allow you a chance to find out about the candidates, their background, motivation and agenda. Make them work for it.”
—————————————————–
I’ve actually been pondering the importance of the local candidate quite a bit lately. We have all gotten a bit too comfortable with the current situation where rank and file MPs are mere pawns. This is a result of a majority Con government. But we likely will not be getting a majority Con gov’t. The importance of any one MP now goes up.
If the Liberals or NDP win, they will have to create cabinet ministers out of the sorry lot that we elect – maybe we should think about giving them some quality people to choose from. You never know, they might talk some sense into their parties.
Even if Harper wins again (which I agree with Garth is most likely), he will have a reduced field from which to draw his cabinet – let’s not make it even weaker than it already is. Imagine, if he had many, many smart and outspoken MPs in his party. The more there are, the harder it gets to muzzle them all (or kick them all out). What’s that? Do I hear a leadership convention calling?
For me, this election might be the year I vote for the local candidate. It might not even be a wasted vote.
Danny calls em as he sees em. Too bad more people don’t have the balls to do so
http://www.cbc.ca/news/canada/newfoundland-labrador/danny-williams-stephen-harper-election-1.3256756
Conservative minority is my prediction.
My riding is likely going NDP no matter my vote, but I actually really like the Liberal candidate. She’s smart and actually knows what’s going on within the riding and what the issues are we care about.
Yes, I agree with a post above that if you object to much of what the Conservatives have been doing but decide to vote for them for the TFSA increase, you are selling your vote.
If you think the Liberals couldn’t run the country you’re kidding yourself. Despite the new face it’s still an old school party. They know the gig.
Garth’s right “cast a ballot for something” or someone….learn about your local candidates ….will they represent your interests…social, fiscal,environmental or………?
Do you know what your interests are? Think about it and then go vote……….
And to the Millennials on here, don’t be apathetic. Even if you feel there is ‘no point’, there is. VOTE. Learn to vote strategically if you feel there is no chance in your local riding (Google it).
You can’t complain if you don’t cast a ballot. It is a right most of the world has or is dying to have.
I’m a fiscal conservative that cares about the disadvantaged and will do what it takes to help them – within reason.
Harper has proven to be, over and over, a secretive, dishonest and back stabbing politician that will give away anything to get elected, not my brand of conservatism or person for that matter. Plus, lousy fiscal conservative – racked up deficit after deficit. Basically spent Paul Martin’s surplus to win 2 elections.
Mulcair seems honest, intelligent but too much on damn the rich, save the poor. No way to run a country let alone an economy nor is that egalitarian. Thinks he can balance a budget when not even the Conservatives have done that for most of their tenure.
That leaves Justin.
Only guy that admits we will be running deficits for years to come and we all know that will happen. And he wants to help the middle class especially with TPP job losses to come, current oil/gas job losses and a real estate bubble that will burst in all likelihood sooner than later – the middle class will need help.
Even you admit we will be in deficit Garth.
Justin is the only guy with a plan for that. That deficit plan trumps a lousy $5,000 TFSA increase if you care more for your country and its people than your pocketbook.
I’d be far better off financially with another Tory government.
But, this election is about far more than my own selfishness. And far more than my own personal financial situation.
It’s not anger Garth. It’s a deeply felt repulsion, disgust, loathing and abhorrence of a vile man. A vote for proportional representation will ensure that we’ll never see the likes of him again.
#148 5G
You’re not selling for $5G, but on the portion of earnings which can be taxed in a ultra-low-interest-rate economy. Most sticking it in GICs or whatever.
So maybe $8/year.
#157 Gen X Confessions
“For me, this election might be the year I vote for the local candidate. ”
I am debating that as well right now. The only candidate that I actually like as a person to represent us between the 3 main parties is the underdog with a party I would not vote for normally.
http://www.theglobeandmail.com/globe-investor/personal-finance/household-finances/nearly-one-in-six-canadians-could-not-handle-500-increase-in-mortgage-payment-poll/article26677221/
“It appears that many Canadians have used low interest rates to get larger loans on more expensive houses rather than to aggressively repay their debt.”
Captain Obvious
As a practical matter the niqeab is a non issue in Canada. I would guess there are fewer than one thousand women in Canada who wear it. Nevertheless to swear allegiance before a judge in a citizenship court or to be a witness in a court of law one should show one’s face. It is a matter of respect for Canadian customs and is a question of justice.
The recent Supreme Court ruling shows the law must be changed by Parliament. That is surely possible; there are laws prohibiting nudity for instance. A line must be drawn to protect society from religious extremism. For instance no court in the Islamic Republic of Iran would ever permit a veiled witness.
The Liberals and the NDP are on the wrong side of this issue and Harper is exploiting their incoherence. It would be far better to defend the principle that all Canadians are equal under the law and no one group (like immigrants) be subject to loss of citizenship.
You should have stopped at the first sentence. So far only two women have refused to uncover. Worry about stuff worth worrying about. This does not even register. Harper plays the politics of fear, bigotry and division. You fell for it. — Garth
previous post signature has no correlation to “Capt. Obvious” poster.
And actually the quote is perhaps not so obvious, it is twisted a little by the bank. perhaps this lines up the cart and horse better:
“It appears that as a result of low interest rates, many Canadians have to attain larger loans on more expensive houses rather than to aggressively repay their debt.”
Hard to swallow voting for someone that squashes democracy, allows speaking lines only, has MPs in jail, has multiple MPs quit, has contempt for parliament, hires corrupt senators, disrespects the UN, disrespects the supreme court, has no time to attend first ministers meeting or crucially important climate change talks.
Learned that University of Toronto employees don’t have to pay CMHC insurance if they only have 5% to put down. The university deals with it.
Another reason why so many around us can afford Toronto semi-detached with 45k salaries.
This is a legislated requirement when dealing with a financial institution. Link? — Garth
#137 Two Weeks to an NDP Government!
«Tom is the brightest, most stable and middle-of-the-road of the three leaders and everyone senses this.»
No he’s not, but he’s an angry lying liar and a backstabbing opportunist. And more and more people are sensing it every day.
Should have seen him in the latest French debate, if his angry eyes could shoot everyone around him would be dead! The guy is losing and when he’s not happy his true nature starts showing.
And now he’s vowing to rip TPP which would certainly create an economy disaster for an isolated Canada. NDP is cooked.
Justin is a bit «simple» (ok quite a bit…) and a socialist, but at least is he is a nice guy.
#2 Angus on 10.05.15 at 6:07 pm
“Looks like Harper will win, stick with the devil you know…..”
Hope so, because the other flavours are hell-bent on decimating the TFSA.
After over a decade of economy-damaging and unnecessary rate cuts in order to deploy an enormous portion of the economy towards re, we’ve all forcibly given up enough income. That includes holders of interest-bearing investments as well as property buyers who’ve paid too much.
Balance simply does not exist, except in being able to boost retirement income via the TFSA.
Markets are not free and transparency is a farce. Cons aside, seniors are being ignored during this campaign. As a voting cohort, it is huge. I invite this group to consider higher taxes and lower TFSA contribution limits going forward. When convenient for them, I fully expect the other flavours, especially the pro-youth Libs, to restore the TFSA limits. When it suits THEM.
Hands OFF of our TFSA!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
“Harper plays the politics of fear, bigotry and division. You fell for it. — Garth” (at #168)
And you’re falling for his politics of the $10,000 TFSA!
Two women affected by the veil issue. 11,000,000 people with TFSAs. — Garth
#157 Gen X Confessions
“Even if Harper wins again (which I agree with Garth is most likely), he will have a reduced field from which to draw his cabinet…Do I hear a leadership convention calling?”
If Harper leaves in 2 years as expected, who is ready to run? I recently posted that Jason Kenney is waiting in the wings (an observation, not an endorsement).
Is there currently another contender that I’m overlooking? Is there someone at the provincial level, ready to make the move to federal? Any suggestions?
Garth et al:
There are many other stories like this one. Buy the company, shut it down, take what was good…screw the liabilities. This is not a new story. However, it is happening again in Hamilton, with (Stelco) US Steel, and their 80 and 90 year old retired workers.
Federal Government….refuses to do anything
Provincal Government ….refuses to do anything
Municpal Government…..refuses to do anything
Give your selves a big raise guys….for all your good work. Congradulate yourselves…as the pensioners…many who are too old or too frail to fight this situation….it really sucks for them.
This was in Today’s spec…
“the MP said in a statement, “I am profoundly disappointed with U.S. Steel’s most recent motions with the Ontario Superior Court. My heart goes out to the workers and retirees who are impacted.”
So he has thrown up his hands and says go and “rape” the seniors…you have my blessing.
Makes me sick to my stomach.
Here is the link.
http://www.thespec.com/news-story/5945411-u-s-steel-canada-should-stop-paying-retiree-benefits-restructuring-monitor/
Once this happens here, it will set a precedent, to “rape” and “screw” every pension plan in the country.
Bravo…everyone clap….Bravo. Go and vote these fine gentlemen back in again….for all their hard work.
#11: “In these economic times, I can’t see taking a chance on the alternatives.”
****************
Harper is responsible for the state of our economy. Want more of the same?
#171 Investorz
How? They finance their employees?
#171 Investorz
Garth: It’s true. Unbelievable.
http://www.hrandequity.utoronto.ca/current-staff/employee-discount-programs.htm
Housing Loan Program
Offered through U of T Financial Services, the purpose of the Faculty and Staff Housing Loan Program (“FSHL”) is to assist qualified members of faculty and staff to finance the purchase of a family home, by providing loans when required, in excess of a first mortgage (usually 80% of purchase price).
The financing is in the form of a demand loan from the CIBC’s main branch at Commerce Court West, Toronto, which is guaranteed by the University of Toronto. The guarantee is secured by a registered second mortgage (not greater than 15% of purchase price) on the property.
Please note: For the purpose of this program, the University’s bank of record is the CIBC Main Branch at Commerce Court West, Toronto.
Garth, you’re right that all of these guys have bogus parts of their platform. You’re right that taxing the rich wont work and the daycare plan is not gonna happen. Income splitting was also a bad policy though (even the elfin deity hated on it) so don’t try and claim that only the liberals and NDP are full of it.
I hate that they are all doubling down on house porn too, but unfortunately they are all doing it, and if one of the leaders started quoting your blog instead they would lose horribly. People are delusional and you can’t fault politicians for staying away from the real estate minefield and telling people what they want to hear.
But as I see it only one party is as you say, playing the politics of fear, bigotry and division. Cultural Barbarians at the gates… Enemies of Israel… second class citizens and dress code bigotry. This cannot stand. It just cant happen. The fact that at least 30% of my fellow citizens will gleefully vote for a party that stoops to these tactics sickens me and should worry everyone. The only people I see rooting for this stuff are christian nuts or obvious racist bigots. Sad that they are such a huge chunk of society..
The NDP is faltering so clearly people are rejecting your dreaded socialism. The liberals have a LONG history of running left and governing center/right. They are the most reasonable alternative we are going to get in the forseeable future and if a government ever deserved to be kicked to the curb it’s now. The ABC vote is consolidating like never before and this is turning into a good old fashioned two party race.
The NDP would have had a cabinet full of left wing nuts. The liberals have a full slate of quality candidates many with cabinet experience. The country won’t fall to pieces under a liberal term (at least not worse than another Con term).
I know you mainly, almost solely, provide financial advice, but do you think there are other huge selling features that each party has? Would their stance on Democracy, Indigenous Rights, Transparency, and a Clean Environment be a reason to vote for them? Maybe none of them have the answer to the looming housing crisis, or retirement crisis, and that’s why we have you to thank for “teaching us the Garth way.” But surely we can applaud certain platforms for other reasons and vote for them. It’s not totally a lost cause here.
“a lot more government soon could enter your life”
You mean aside from the reactionary conservative inclination to legislate who we can love, what we can smoke, and where we can live?
Love it when political fear-mongering comes in the form of hypocrisy, with a side of righteous indignation.
“Taxation without representation is tyranny definition. A slogan of the Revolutionary War and the years before. The colonists were not allowed to choose representatives to parliament in London, which passed the laws under which they were taxed”
As Herr Harper’s Canuckistan is no longer a democracy with this egomaniac trying to take away this 7th generation Empire Loyalists right to vote but requiring that I jump through CRA’s hoops every April, there is NO way I can vote for his party.
Actually have already sent in my mail in ballot with the name of the Liberal party’s candidate written in, via the embassy.
Remember the GreaterFool political poll of a couple weeks back? You know, the one that had Dippers wishing they owned thirsty underwear and accusing me of poor methodology, sleazy questions, questionable ethics and low moral character?
______________________________________________
I thought that was Smoking Mans poll?
When optimism is used against the masses.
Hands off our TFSA?
My spouse and I clear 120K after taxes and deductions. Without getting into detail, there’s no way we can live like adults and enjoy life and still max out the new TFSA.
Keep supporting tax shelters for the wealthiest 5%.
Suckers.
#143 blanltlo on 10.05.15 at 10:38 pm
lol
It’s sad how unsuccessful people try to shore up their ego.
I have sympathy for them.
I said before, there’s nobody more motivated than me to vote in anger.
But I won’t.
____________________________________________
Smart move Garth, it is similar to not going to bed angry with your better half. These idiots that jump all over the bandwagon to vote out Stephan Harper don’t realize the consequences of voting in another boss that is the same as the old boss. I keep telling people to vote with your wallet not your anger! It is akin to stubbing your toe on a rock and then kicking the same rock in anger! What does it get you but more pain!
Oh do these youngsters not have any sort of interest in looking back at what the libs did back in the 60’s, 70’s and 80’s? They screwed us over several times. Its all about trying to minimize damage to your investments.
#176 miketheengineer
I don’t see this as “raping and screwing” pension plans, there was a solvency funding deficit which they are proposing to stop funding. My understanding is that it doesn’t mean benefits will stop it means that they could be reduced to the extend of the shortfall.
How would you propose the shortfall be funded? A bailout from taxpayers?
Garth, I’ve been reading your blog for many years now.
I do appreciate your advice on investing, and I thank you for it. I realize you have your business interests to protect, but it dismays me that your advice on the election issues is based solely on monetary policy. What good is $2 million in your TFSA if you can’t go outside because the air is toxic, and our natural environment is destroyed…and perhaps ultra conservative policy forever changes Canadians for the worse so that it is not safe to go out because different ethnicities are pitted against each other, and some made to be scapegoats? I can’t hold my nose and support Steven Harper’s conservatives….
Is the dog Jesus?
25 Shortly before dawn Jesus went out to them, walking on the lake. 26 When the disciples saw him walking on the lake, they were terrified. “It’s a ghost,” they said, and cried out in fear.
27 But Jesus immediately said to them: “Take courage! It is I. Don’t be afraid.”
Well the dog (Jesus) said don’t be afraid so hopefully this election will end well.
TFSA is a great place to stash your funds when not invested. A lot of people are gun-shy of the market right now! At least the Taxman can’t get his pennies!
https://www.youtube.com/watch?v=Oyu5sFzWLk8
#175
Brad Wall is waiting in the wings for Harper’s job. Rumour has it he’s taking French lessons….
#176 miketheengineer
(Stelco) US Steel regarding pension
There is some sort of fund in Ontario that is to provide for pension failure. I don’t know how it works, who qualifies, under what circumstances. It was banted about during the dark days of the GFC with regards to the auto sector prior to the government bailout. Perhaps you could look into it.
What a sad group of losers these guys are. It comes down to do anything but vote for Stephan Harper. Present your case and show us what you intend to do. Make a platform to be judged on you assholes. When you state your case we can make a decision.
https://secure.avaaz.org/en/canada_stop_harper_21/
“This is a legislated requirement when dealing with a financial institution. Link? — Garth”
It might be part of their negotiated collective agreement, or a benefit that the university pays. The university itself may even be acting as guarantor, which might be acceptable to the banks. Kind of scary if the latter is the case for a public institution though.
“It’s sad how unsuccessful people try to shore up their ego.”
Are you mentally ill or something? Its the only plausible explanation as to your rather bizarre behaviour. You have my sympathy if you are, but you really should, for your own sake, step away from the keyboard for a while.
Wow, you are faithful to conservatives garth. While my economic ‘utility’ will be maximised by voting PC, I am voting for Tom…how bad can it be. How much damage can Tom and NDP do in 5 years. Anyways they won’t win a majority…but please keep Justin out of there, his kids need him at home.
“Two women affected by the veil issue. 11,000,000 people with TFSAs. — Garth” (at #174)
And 36,000,000 Canadians are affected by his emasculation of Parliament and government by misinformation, disinformation, obfuscation and obstruction.
BTW, when is the Harper efficient management of the economy that’s been bandied about for eight years going to start? And how many of those 11,000,000 TFSAs are maxed out?
The End is Near
https://youtu.be/6eH4vQvpZVE
Don’t know why some are so against the increasing of the TFSA limits which are funded with ”after tax” money and you are not getting any tax deduction as you would with the RRSP.
The only thing with the TFSA is the gains inside the TFSA are not taxed. For the majority of people who buy TFSA’s and these are people in the low income category as well who may have been investing in RRSP’s previously, they are no longer receiving that tax deduction.
For people with low incomes like many seniors for example, RRSP’s are nothing more than a tax grab as it creates a clawback of 50% of their GIS income and disentitles them from other means tested benefits.
The TFSA was designed to prevent this and is why this is the best savings vehicle for this group. There are many seniors who have large RSP holdings that they choose not to withdraw from because of the clawback. Once they reach age 71 they are then required to draw them and they are then forced into a clawback situation which compounds in the following years to the point that they could lose their entire GIS which is based on previous years income.
It is nothing more than a tax trap for low income persons. The TFSA tries resolves that. Garth knows this.
People with low income have seen their incomes seriously reduced because of the lowering of interest rates and as a result may have been forced into drawing from their RSP’s once they reached retirement age.
What in effect has happened is that low income persons have been lending the banks money for next to nothing and in turn the banks have been lending this money to people with ”no money” to buy overpriced houses. At least the TFSA attempts to address some of these inequities.
FED will be forced to raise interest rates only when US debt will reach 22 trillion, till that happens enjoy free money :)
#195 Mark
“It might be part of their negotiated collective agreement, or a benefit that the university pays. The university itself may even be acting as guarantor, which might be acceptable to the banks. Kind of scary if the latter is the case for a public institution though.”
It is, I posted the link. The Bank Act prohibits Banks from directly advancing funds directly against a property for more than 80% of cost or appraised value unless mortgage insurance is obtained. However, there is no cap on collateral mortgages to secure other types of loans.
In this case, CIBC is providing a demand loan with the University as Guarantor and the University is taking a second charge collateral mortgage to secure themselves.
It is within the Bank Act regulation.
I do however feel that it is allowing to do something indirectly that Banks could not do directly so it’s kind of going around regulation to achieve.
Want to add that I am not sure why the University would engage in this type of financing in the first place.
#111 Vundo
Yeah, no kidding the NDP hasn’t had time to do anything yet. They haven’t even had time to create a budget yet (6 months after being elected!). That massive uncertainty is how they are absolutely screwing Alberta right now. Everyone is stuck around waiting b/c who knows what kind of crazy crap will be in that budget. Businesses can’t hire, expand, create new projects, etc until they know where their gov’t stands, and THAT is precisely why the NDP are largely to blame for what is happening right now. No, they can’t control $45 oil, but they could lead the province in these tough times right now but they refuse to until after the Federal election b/c they want to try and do Mulcair a favour.
Hopefully all of Canada see’s the HUGE mistake that Alberta made 6 months ago by voting against a party rather than for one.
We are in the initial stages of a brutal recession/depression – to think any of these 3 monkeys is able to prevent the natural correction that is taking place is fool hardy at best. Flip a coin – it doesn’t matter.
Wow… 400 more layoffs at ConocoPhillips Calgary including 100 contractors… sorry no link, just insider information
“There are many seniors who have large RSP holdings that they choose not to withdraw from because of the clawback”
I hear this claim being made frequently. However, the OAS clawback is a fact of life, and will likely never change meaningfully. Hence, choosing not to withdraw at an earlier age exposes the senior to the inevitability of having even more OAS removed, and/or their estates being liable for taxes, at the highest marginal rates, on RRSP withdraws not made prior to death.
I know a lot of seniors are upset about the OAS reductions, and perhaps rightly so. However, the rules of engagement have been known for decades. Retirement planning should have contemplated such. We’re generally talking about some fairly wealthy seniors here likely sitting on a paid-up principal residence and investment accounts well into the mid to high 6-figures. It is not unreasonable to expect them to pay some taxes, especially since the RRSP provided for many decades of tax deferral.
There are a few glaring problems with the TFSA which cannot be indefinitely ignored by government. Namely, the TFSA encourages a capital preference towards fixed income (which is how most TFSA’s are used in practice, instead of people seeking out tax efficient investments such as preferred or common shares!). The TFSA provides a disproportionate tax reward to a very small group of successful investors who are able to grow their TFSA’s faster than others. And the TFSA does not allow for leverage which means that it disadvantages a segment of the population who probably should be using some leverage (in contrast, home equity can be leveraged with the full blessing of the government!).
When the devil you know is the actual devil, vote ABC.
#203 Mike in Edm on 10.06.15 at 11:59 am
—————————————————–
Actually the Alberta NDP is already leading the province when it comes to enforcing environmental standards:
http://www.theglobeandmail.com/report-on-business/industry-news/energy-and-resources/alberta-energy-regulator-shuts-down-murphy-oil-wells-for-non-compliance/article25258822/
#196 quebec economist on 10.06.15 at 10:45 am
Wow, you are faithful to conservatives garth. While my economic ‘utility’ will be maximised by voting PC, I am voting for Tom…how bad can it be. How much damage can Tom and NDP do in 5 years. Anyways they won’t win a majority…but please keep Justin out of there, his kids need him at home.
***************************
quebec economist used to talk about his investment plans or ideas, but not any more?
I don’t always agree with you Garth, but your response to #168 was spot on.
#177 Daisy Mae on 10.06.15 at 9:14 am
————————————————
It really is disgusting right?
Conservative minority: morning after, 4-yr depression sets in amongst all Canadians.
Liberal minority: morning after, all Canadians feel a sense of hope and a new beginning for democracy and reestablishing our international role as peacekeepers and moving in the right direction on climate change.
You should have stopped at the first sentence. So far only two women have refused to uncover. Worry about stuff worth worrying about. This does not even register. Harper plays the politics of fear, bigotry and division. You fell for it. — Garth
—————————————–
Ok Garth, only 2 women to date have refused to uncover during the ceremony, but how many of those that capitulated to uncovering felt that their religious freedom was violated???
“Laureen, who saves animals and drives a motorcycle loves him”
That’s not what people say in Ottawa. “All a facade” is what I hear.
I’m not going to post the hilarious gossip on a family blog, except to pass on the word “Mountie.”
#183 busman7
actually, taxation ITSELF is tyrannical.
#50 NoOneOfConsequence on 10.05.15 at 7:24 pm
Something new has arrived!
Between Two Ages: America’s Role in the Technetronic Era
https://www.goodreads.com/work/quotes/3269714-between-two-ages
http://www.amazon.com/Technocracy-Rising-Trojan-Global-Transformation/dp/0986373907
“I thought my vasectomy would keep my wife from getting pregnant but apparently it just changes the color of the baby.”
#172 pbrasseur
“nice guys” don’t advocate increased state initiated force against other human beings.
such is the inverted moral compass of the emptied socialist psyche.
#206 Mark
TFSA encourages a capital preference towards fixed income
How does the TFSA encourage a preference towards fixed income?
The TFSA provides a disproportionate tax reward to a very small group of successful investors who are able to grow their TFSA’s faster than others
This doesn’t make sense. That’s like saying that school marks reward a small group of successful academics who are able to do better on their tests.
First, what is the problem with better investors getting better returns?
Second, what is your (socialist?) solution?
And the TFSA does not allow for leverage
I think this is a positive.
The average Canadian is a terrible investor. One of the worst things you can do for them is to allow them to leverage their TFSA.
Not sure why the comparison between home buying and the TFSA?
There are many seniors who have large RSP holdings that they choose not to withdraw from because of the clawback
That’s fine by me. That’s the system. Why not use it?
It’s pretty difficult to get OAS clawed back right now anyway. Over $71k income per senior per year to even start thinking about OAS claw back.
And now with the newly dropped minimum RIF withdrawal rates, even fewer people can structure their investments to avoid claw back.
The money (e.g. tax on deferred cap gains in RIF) will be returned to the government upon their death anyway. I don’t see the big deal.
you really should, for your own sake, step away from the keyboard for a while.
Mark, the individual with over 26,600 posts on RFD and probably the same on this blog, just told me to step away from the keyboard.
http://forums.redflagdeals.com/members/mark77-144507/
I’m not sure if I should be honoured or insulted.
lol
#175 AfterTheHouseSold on 10.06.15 at 8:20 am
Is there currently another contender that I’m overlooking? Is there someone at the provincial level, ready to make the move to federal? Any suggestions?
—————————————————–
Nope. That is another reason why we should take a good look at the local candidates this time around. They need some new contenders.
Of course I can dare to dream of a Brad Wall or Garth Turner led party…
#176 miketheengineer on 10.06.15 at 8:39 am
Garth et al:
There are many other stories like this one. Buy the company, shut it down, take what was good…screw the liabilities. This is not a new story. However, it is happening again in Hamilton, with (Stelco) US Steel, and their 80 and 90 year old retired workers.
Federal Government….refuses to do anything
Provincal Government ….refuses to do anything
Municpal Government…..refuses to do anything…
____________________________________________
I hope private sector employees are paying attention – Union and otherwise. Pension plans all over are underfunded, and only going to get worse. We have seen this before, but it looks like we are going to get a refresher with Stelco.
The company is insolvent – end of story. Yes it sucks for government, banks, all unsecured creditors, as well as the current and past employees.
Make a mental note, and don’t act surprised. This is what happens when the money runs out…
“How does the TFSA encourage a preference towards fixed income?”
By eliminating the tax on fixed income investments. In contrast, the payments from equity investments, whether preferreds or commons, are already tax-paid at the corporate level.
Consider for a moment, a hypothetical publicly traded corporation that can either pay 5% on a preferred share, or 5% in fixed income coupon interest. Assume that the company is in a stable long-term industry, is diversified, has a solid base of common equity, etc., such that no impairment to either security is part of the analysis.
Ordinarily an investor would prefer the 5% preferred share, because they receive after-tax income of the corporation as their compensation for investing. As opposed to the 5% coupon bond. Advisors like Garth even advocate, at times, using preferred shares as a component of a taxable fixed income portfolio for precisely this reason.
Now comes along the TFSA. Since there are no taxes inside the TFSA, investors are agnostic as to whether they receive tax-paid dividends, or taxable interest payments. Hence, the preference of investors for tax-efficient income (by way of common or preferred shares) shifts away from such investments, and towards the traditional coupon bond debt instrument. The previous tax advantage of investing in preferred or common equity is eroded.
The end result of such generalized on a macro basis — the cost of debt falls relative to the cost of equity due to the TFSA. The price of equity thus falls, and the ‘cost’ of issuing equity rises.
Since equity is such an important element of business formation and expansion, and is the underlying component of the business balance sheet against which debt is issued, this is very likely to have an impact on long-term business formation and investment.
Furthermore, debt is currently heavily used in the housing finance sector, so the tax preference created by the TFSA ultimately serves to drive down the cost of debt for consumer borrowers by way of suppressing banks’ funding costs. Thus feeding the debt side of a debt-fed housing bubble.
#213 Maggie the Teck Writer on 10.06.15 at 1:07 pm
That’s not what people say in Ottawa. “All a facade” is what I hear.
I’m not going to post the hilarious gossip on a family blog, except to pass on the word “Mountie.”
____________________________________________
With posts like the above, I think we can start assuming Harper must absolutely be heading for a majority government…
“I think this is a positive.
The average Canadian is a terrible investor. One of the worst things you can do for them is to allow them to leverage their TFSA.
“
One could say the same about housing as well, since the cost of credit against housing usually exceeds the return on housing over the long term. Yet “the government” does not forbid leverage against housing. It has been said by many that by the time one actually pays off a house, they have bought the lender 2-3 houses.
I am not advocating that people go out and leverage their TFSA’s. However, there are situations where it could be quite beneficial to take out some credit against a TFSA. For example, HELOCs (ie: housing-secured debt) is a popular choice for many to reduce their financing costs when buying new cars instead of paying the high car finance rates (typically 4-7%, depending upon credit rating and down-payment these days!). But one cannot leverage their TFSA in the same manner. So they end up either collapsing the TFSA to purchase the car, or they pay excessively on the car loan.
This hits the young especially hard who may not have the liquidity to simply avoid taking a car loan, but still should be leaving their TFSA investments intact. And with interest rates expected to remain low for a considerable period going forward, and the stock market very low — to deprive Canadians the choice of leverage by denying its availability in the TFSA is to deprive the economy of a mechanism which might return some normalcy to market valuations.
After all, what is leverage? Leverage is just shorting one asset (ie: cash), and going long another (ie: stocks). If stocks are undervalued, and cash is overvalued, it logically follows that in order to restore normal valuations that facilitate a properly functioning economy, the investing public should be encouraged to leverage. But the TFSA does precisely the opposite — not only does it forbid leverage, but it also incents investment in fixed income which drives the chasm even wider.
Everyone can’t be wrong….
In his 1941 book, Mask of Sanity, Hervey Cleckley introduced 16 behavioral characteristics of a psychopath. These traits include; superficial charm and intelligence, untruthfulness, unreliability, insincerity, lack of remorse and shame, pathologic egocentricity, incapacity for love and poverty in major affective reactions (emotions).
Prominent Canadian psychologist and professor emeritus at the University of British Columbia, Dr. Robert Hare is best known for developing the Psychopathy Checklist. Dr. Hare has spent over 35 years researching psychopathy and his checklist is being adopted worldwide as the standard instrument for researchers and clinicians in the identification of psychopaths in society. Some traits listed in his checklist include; glibness, superficial charm, grandiose sense of self worth, pathological lying, cunning, manipulative, lack of remorse or guilt, emotional shallowness, egocentric, callous, and a lack of empathy.
Now consider some of things that have been written about and attributed to Stephen Harper over the years he has been a public figure in Canadian politics…
Arrogant: Tories seen as secretive, arrogant (Toronto Star, May 2008)
Deceitful: In Harperland, Hypocrisy, Cynicism and Deceit (Vancouver Observer, Feb 2011)
Ruthless: Harper’s Ruthless Streak (Victoria Times Colonist, Jan 2010)
Controlling: New book portrays Stephen Harper’s control fixation (Toronto Star, Sept 2010)
Manipulative: Parliamentary prorouge simply manipulative (The Pioneer, Feb 2010)
Pathological: Harper finally gets his comeuppance (Winnipeg Free Press, Dec 2008)
Bullying: Stephen Harper – The Classic Political Bully (Halifax Live, June 2007)
Cunning: Stephen Harper is cunningly brilliant (Ottawa Daily Observer, Apr 2008)
Intimidating: PM Harper´s problem? Stephen Harper is seen as mean, intemperate, intimidating, and imperious (The Hill Times, Feb 2008)
Unconscionable: Tories forced to defend F-35 purchase amid damning report (Globe and Mail, Mar 2011)
Contemptuous: Is Stephen Harper the ‘Teflon’ man of Canadian politics? (Yahoo News, Apr 2011)
Insensitive: Ed Broadbent describes Harper as insensitive (CTV News, Oct 2008)
Untrustworthy: Yes, contempt of Parliament does matter (Toronto Star, Mar 2011)
Aggressive: Former allies predict ‘more aggressive’ Harper if Tories snare majority (Montreal Gazette, Jan 2011)
Sneaky: Sneaky Steve, a danger to democracy (Canadian Charger, Jan 2010)
Dishonest: Harper’s flyer a dishonest abuse of taxpayers (Victoria Times Colonist, Aug 2008)
Two-faced: Video Shows Two Faces Of Stephen Harper (City TV News, Sept 2009)
Mean-spirited: Harper’s mean-spirited priorities grate on critics (Georgia Strait, April 2007)
Dictatorial: Harper acting like an elected dictator (Toronto Star, Dec 2009)
@fancy pants, post #167:
Yes, many Canadians have used those lower interest rates to dig themselves more deeply into debt, a move that could prove destructive if (more likely when) interest rates go up and they have to renew their mortgage. None of the political parties can fix that problem if they form the next government.
#23 Victoria Real Estate Update on 10.05.15 at 6:27 pm
…and therein also lies the reason for which the U.S. $ is so much more robust than CAD.
#185 Realitybytes on 10.06.15 at 10:09 am
…”Hands off our TFSA?
My spouse and I clear 120K after taxes and deductions. Without getting into detail, there’s no way we can live like adults and enjoy life and still max out the new TFSA.
Keep supporting tax shelters for the wealthiest 5%.
Suckers.”
Sounds like “no exit”to me…..
“This doesn’t make sense. That’s like saying that school marks reward a small group of successful academics who are able to do better on their tests.”
Sure, but school marks reward present behaviour. The TFSA, as written, not only rewards for present behaviour, but also significantly for past behaviour as the tax exemption inside the TFSA is indefinite and expands with an expanded TFSA.
If you want to use the school marks analogy, it would be like giving someone an “A” in Grade 12, largely on the basis of someone having an “A” in Grade 8 in Math. Even if, in the mean-time, they turned into a dope-smoking slack-off not capable of working at the Grade 12 level.
First, what is the problem with better investors getting better returns?
There’s nothing wrong with that. However, the problem is when those ‘better investors’ receive a tax preference that is greater than the poorer investors.
Second, what is your (socialist?) solution?
A lifetime cumulative capital gains exemption would be my preference. And/or a limit on the size of TFSA permissible (say, a cap equivalent to the per capita house price, above which withdrawals would be mandatory!).
Or better yet, just scrap the TFSA altogether, and do some tweaks to the various government benefit programs that penalized investment and savings amongst the low income crowd (the often-stated reason by the government for introducing the TFSA in the first place!).
I don’t see any of my proposed ‘solutions’ as being socialist. The Canadian economy functioned quite well before the TFSA, with the exception of the perverse incentives against savings and investment by the low income crowd that existed in the pre-TFSA era. Perverse incentives that should have been addressed in their own right, not band-aid’ed over with the TFSA.
Holy Crap Wheres The Tylenol on 10.06.15 at 10:27 am
Is the dog Jesus?
25 Shortly before dawn Jesus went out to them, walking on the lake.
26 When the disciples saw him walking on the lake, they were terrified. “It’s a ghost,” they said, and cried out in fear.
27 But Jesus immediately said to them: “Take courage! It is I. Don’t be afraid.”
Well the dog (Jesus) said don’t be afraid so hopefully this election will end well.
=========================
It’s about time we got serious about the great pic. I like the rear paw droplets.
Good to hear the dog’s name is Hey Zeus.
But that ain’t no lake. It looks remarkably like Rathtrevor Beach with an early morning mist. Lovely.
Cheers, R
Well said Garth…
Realitybytes on 10.06.15 at 10:09 am
Hands off our TFSA?
My spouse and I clear 120K after taxes and deductions. Without getting into detail, there’s no way we can live like adults and enjoy life and still max out the new TFSA.
Keep supporting tax shelters for the wealthiest 5%.
Suckers.
=================
Our family THP after income taxes is less than yours but we can manage to max RRSP and TSFA while having winter vacation & summertime motorcycles (his & hers).
It’s time to “get real” and look closely at what a TSFA can do for you, in the future.
Now assuming you are not going to get the frivolous spending under control anytime soon. In the future, when you cash out the house gains (capitol tax free) where are you going to park the proceeds.?
In a non-registered account? Happy taxing!
Or would you rather have that CUMULATIVE (the used part) TFSA room waiting for you.
Stop being myopic and think. The you might be one of the 5% some day.
The Southern Poverty Law Center
Sovereign Citizens Movement
The strange subculture of the sovereign citizens movement, whose adherents hold truly bizarre, complex antigovernment beliefs, has been growing at a fast pace since the late 2000s. Sovereigns believe that they get to decide which laws to obey and which to ignore, and they don’t think they should have to pay taxes.
https://www.splcenter.org/fighting-hate/extremist-files/ideology/sovereign-citizens-movement
=
…”The report says HUD’s Inspector General recently has become aware of sovereigns participating in the HUD subsidized Section 8 Housing Choice Voucher program, posing as landlords, using properties that they do not own.
“They provide fraudulent deeds to housing authorities to establish ownership rights so they can participate as a landlord,” the report warns.Sovereign citizens also have been active in “foreclosure-rescue schemes.” In these scams, sovereign citizens find homeowners who are in mortgage default.”
ttps://www.splcenter.org/hatewatch/2015/09/24/new-government-report-warns-antigovernment-sovereign-citizen-scams
love for the tpp ? what about patented broccoli?
merger between Monsanto + Syngenta Tighten Stranglehold on Global Food Supply
Tuesday, 06 October 2015 00:00 By Paul Barbot, Truthout | Op-Ed
In a 2014 Harris Poll gauging the reputations of major corporations, Monsanto’s “reputation quotient” ranked 58 out of 60 companies. In other words, it was the third most hated company measured.
right to know
http://usrtk.org/seedybusiness.pdf
RE: Loonie Watcher’s predictions.
He/she back in July or August predicted a 70c Loonie by Labour Day. Didn’t happen. Not even close.
Probably shorted the dollar way too late in the game and is sweating bullets these days.
#233 Russ –
”Stop being myopic and think. The you might be one of the 5% some day.”
Absolutely dead on the money. Too many people unable to look beyond the present. And the TFSA is a “present”. Thanks Garth.
Interesting viewpoint, but mostly wrong.
First of all. Canadians (well most of them) have an aversion to neofacism and that means the current bunch of far right neanderthals are toast.
Secondly, in spite of the fear mongering and misrepresentations, Canadians are social democrats at heart. They will take the $15 daycare, find jobs, and stimulate the economy.
In the unlikely event that evil prevails at the election it will be a short term victory. The dippers and the nameless will gang up and the Cons, without a leader (Steve resigns), and in disarray, will fall in the gutter as they should.
Next there will be coalition of the normal and they will reign for a thousand years. O wait, that has been tried before. Let’s just say five years.
#206 Mark on 10.06.15 at 12:23 pm
I said:
“There are many seniors who have large RSP holdings that they choose not to withdraw from because of the clawback”
I was referring to low income seniors who qualified for the GIS because of their meager incomes. These are the ones that are getting the shaft, not the high earning seniors who are collecting OAS.
You should have stopped at the first sentence. So far only two women have refused to uncover. Worry about stuff worth worrying about. This does not even register. Harper plays the politics of fear, bigotry and division. You fell for it. — Garth
——————–
Those on the left will argue that, because they always use racism or homophobia to shut people up. But it isn’t bigotry. We allow these people to wear what they want any time they want except for a few small short lived exceptions. License photo, passport photo, and citizenship oath. The first two are for obvious reasons. The last one is symbolic. We’re asking that you assimilate for just a few seconds. It isn’t anything degrading, or shameful, or painful. They’re not vampires, they’re just people, no more special than anyone else. That they refuse to do this speaks volumes about them. So, if as you say it is a small issue, then they should suck it up.
Two people have been involved. Surely you have better things to do with your life than make this into something it is not. — Garth
#218 Leo Trollstoy on 10.06.15 at 1:34 pm
#206 Mark
——————
It took me a while but I learned to stop feeding the troll. I know it hurts to read such stupidity and not challenge it. It almost seems like acceptance if someone doesn’t. But you can’t win.
#91 5G on 10.05.15 at 8:52 pm
“5G a year.
It’s kind of ridiculously low price to buy vote in a G7 country.”
Do the math for 10, 20, 30, 40 or more years and see what that 5K is truly worth. Particularly if you have a spouse.
#102 Ole Doberman on 10.05.15 at 9:14 pm
“Is there a chance we could lose the 10K room in the TFSA for 2015?”
Not likely:
http://www.tfsa.gc.ca/
#235 jess – Thanks for that seedy business link
#199 Ronaldo on 10.06.15 at 11:36 am
Don’t know why some are so against the increasing of the TFSA limits which are funded with ”after tax” money and you are not getting any tax deduction as you would with the RRSP.
……..
Not against it.
Against trading what I thought Canada stood for just to get it.
#241 pwn3d on 10.06.15 at 4:29 pm
Unfortunately after reading his answers I have to agree.
I wanted to respond to all the terrible logic and assumptions, but I’d rather spend the time counting my money.
New month. More rent money. Counting it is a dirty job, but somebody’s gotta do it.
Honestly is it really THAT surprising that somebody who posts 10x a day, with over 26,600 posts can’t find a job that pays over $100k and stayed unemployed for almost a decade?
It’s not surprising at all.
Thinks about it.
http://forums.redflagdeals.com/members/mark77-144507/
4 Jeff in Moose Jaw
thanks for the memory pinch watch
“Planet oil” series on TVO for historical global view
========
isle of man the “self-governing dependency ” is that an oxymoron? independent dependent?
Here’s how Apple, Nike and others avoided $620 billion in taxes
By Robert Schroeder
Published: Oct 6, 2015 2:07 p.m. ET
The study by liberal groups Citizens for Tax Justice and the U.S. PIRG Education Fund found that nearly three-quarters of Fortune 500 companies had at least one tax-haven subsidiary in 2014. Bermuda and the Cayman Islands were the most popular tax-haven destinations.
http://ctj.org/ctjreports/2015/10/offshore_shell_games_2015.php#executive
========
cpa and the cra blended = crapa
http://www.cbc.ca/news/business/harper-government-partnered-with-industry-group-fighting-cra-over-kpmg-case-1.3257994
Garth, First time posting here. As much as I value your voice of sanity in the midst of this real-estate madness, I find your position on the TFSA misleading at best, disingenuous at worst. To imply that it has no tax impact is surprisingly short-sighted for an economist. TFSAs effectively siphon incremental amounts out of future taxation. Over time, this will result in billions of untaxable capital… but only for those who can afford it of course.
For the record, my wife and I make enough to take full advantage of it, but I won’t lie about the TFSA really is.
Then don’t use it, out of principal. I presume you eschew RRSPs and company pension plans for the same reason. They actually rob the system of far more. — Garth
Having to chose between the lesser of many evils is a feature of third world so called democracies.
Don’t settle for this, vote blank.
That’s a cheap shot and you know it.
A) Reread my comment carefully. I did not say I did not appreciate these savings vehicles. I just objected to the patently false assertion you made about TFSA not having a tax impact.
B) All these vehicles are necessary to plan for retirement. To not use them, out of principle or otherwise, is retarded. As you yourself just noted though they can potentially be abused by the very wealthy to shelter their wealth and avoid paying taxes. The principle, no pun intended, is sound but requires safeguards against the inevitable attempts to subvert the original intent of these vehicles.
TFSA contributions are made with money people have already been taxed on – the wealthy more than the rest of us. RRSP contributions net tax refunds, the greatest of which (by far) to to higher income-earners. You cannot oppose one on principle without opposing the other. Hypocrite logic. — Garth
Where do you see me opposing it? Or, conversely, where do you see me championing RRSPs? I intentionally left that out as I’m not sure what the alternative would be, if any exists. i.e., people need to have a way to save for their retirement and tax breaks are a good incentive.
I only took issue with you under-playing the TFSA as having no measurable tax impact. I just wanted to set the record state, regardless of the underlying argument. No, the ends do not justify the means.
As to hypocrisy, you rant about how RE agents constantly fudge the numbers to tell the story they want them to tell. How is what you did any different?
TFSA contributions are after-tax. You have no argument. — Garth