Surprise!

THEY WAIT modified

Lest we forget: Corporal Nathan Cirillo's dogs have not.

Well, so much for that. The Conservatives apparently left four surprise gifts for the boy wonder:

(a) a sucky economy which will grow 50% less than forecast (I told you this was coming during the election, now confirmed);
(b) No balanced budget next year, but a $3.3 billion deficit instead;
(c) Budget shortfalls of $4 to $5 billion per year for the four afterwards, and;
(d) A looming real estate plop. Canada’s Parliamentary Budget Office warned of the above on Tuesday, plus, “we now anticipate a larger correction in residential investment.”

So the Trudeau plan to run a $10 billion deficit in each of the next two years is suddenly uncertain. It will be way more. Gone is the ability to return to balanced books by 2020, which means all of the Liberal mandate will be one of red ink. Added to the disgraceful Harper years, during which $170 billion in new debt was added, we’ll likely go at least 13 years of living beyond our means.

Isn’t this completely consistent with a country where citizens have pickled themselves in debt, adopted a one-asset strategy, and are completely unprepared for a normalization in interest rates? Good thing we might be legalizing weed. Say, did Ashley Madison make it into the Cabinet?

Well, tomorrow’s blog will be all ponies and sunshine. Trust me on that. But today? Not so much. Here’s why you’re insane to buy a house right now, especially in YVR or 416/905 – at least according to these guys:

  • “The risk of a severe home price correction in B.C. and Ontario has risen to a medium probability event given the continued run-up in prices in Toronto and Vancouver,” says TD Economics. Yes, the same bank that makes mortgages, so you can imagine what the real story is.
  • Any correction in prices will crush the young and set the real estate dominoes falling, says the Centre for Policy Alternatives this week. A 20% drop would put 260,000 families under water, more than half of them virginal owners in their twenties or thirties. And you thought it was all about facial hair.
  • Thanks to leverage, a 20% housing drop would wipe out 40% of their net worth and a 30% decline (it happened in the US a few years ago and in Toronto two decades back) would erase 60% of net worth. Gulp.

CORRECTION

  • “The evidence of overvaluation has increased since the previous assessment in Toronto, Vancouver, Montreal, Edmonton, and Saskatoon as price levels are not fully supported by economic and demographic factors,” says CMHC. Yes, the guys responsible for much of the house-pumping in Canada, who actually see all the mortgage data (which you don’t).
  • Regionally, TD Bank adds, homeowners in Ontario and BC have the most to lose (of course, since they rode prices higher). But the bank is also worried about Manitoba and Saskatchewan, where household debt is romping higher.
  • Calgary, of course, resembles an impending trainwreck. Actually a local office-leasing specialist calls it “a bloodbath.” “We’re at the highest point of fear and uncertainty now,” he says. Commercial vacancy rates are at a five-year high and rents have fallen to 2006 levels. Meanwhile a massive amount of new space (almost four million feet) will come to market over the next three years. Ouch.
  • Commercial space is emptying out because so are the jobs. No wonder last month saw the biggest price decline ever in Calgary house prices, plus those auctions in which luxury digs went for a 60% discount to appraised values. Home sales last week were down 29% from last November, while October deals plunged 32%. As local realtor Mike Fotiou points out: “There are 25.5% or 1,154 more homes on the market than one year ago.   The 650 new listings month-to-date is the highest since 2008.”

No wonder newly-minted but gender-challenged Finance Minister Bill Morneau was pushed out the door to do damage control Tuesday afternoon, after his department gave the media a scant half-hour advance notice. More deficits, more debts, a looming Fed rate hike and so many flashing yellow lights – none of this was in the plan. Where’s the hope, Billy?

Not much, as it turned out. Morneau’s debut was a disappointment – a canned statement followed by a canned media release.

Finance Minister Bill Morneau today spoke about the need for smart, strategic investments to jump-start the economy and create new opportunities for growth. Referencing a report issued today by the Parliamentary Budget Officer, which projects a small surplus in 2015–16, followed by five years of deficits, the Minister confirmed his intention to issue his own Economic and Fiscal Update in the coming weeks.

“Today’s report will certainly help to inform my assessment of Canada’s economic outlook and fiscal projections, alongside input from both public and private sector partners, and Canadians themselves,” the Minister said. “We intend to bring real change to Canada’s economy through a strategy that combines fiscal discipline with investments in economic growth.”

Citing a transformative investment in infrastructure, the Minister pledged to reorient the economy towards sustained growth.

“I continue to work closely with officials at the Department of Finance, and look forward to providing an accounting of our new fiscal reality very soon,” said the Minister.

I wonder if he regrets leaving that $1-million salary yet. He will.

267 comments ↓

#1 ApplePi on 11.10.15 at 5:52 pm

Whoa… this is a first.

#2 Give me a head with hair, long beautiful hair on 11.10.15 at 5:59 pm

This is what’s important ….none that financial rubbish.

http://www.thestar.com/news/canada/2015/11/10/meet-the-woman-behind-justin-trudeaus-hair.html

#3 Broke Dick on 11.10.15 at 6:06 pm

Well, so much for that. The Conservatives apparently left four surprise gifts for the boy wonder:
(a) a sucky economy which will grow 50% less than forecast (I told you this was coming during the election, now confirmed);
(b) No balanced budget next year, but a $3.3 billion deficit instead;
(c) Budget shortfalls of $4 to $5 billion per year for the four afterwards, and;
(d) A looming real estate plop. Canada’s Parliamentary Budget Office warned of the above on Tuesday, plus, “we now anticipate a larger correction in residential investment.”
===============================
So shouldn’t that first sentence read that “The Conservatives apparently lied about and misled the people of Canada”.
I know you didn’t like JT’s platform but don’t you see it was time for change.
Same for Ontario Liberals. Any party in power for too long stops listening to the people.

#4 Mandria on 11.10.15 at 6:09 pm

Anyone else thinking buying opportunity for Bombardier at the $1.45 it’s sitting at now?

#5 Bby604 on 11.10.15 at 6:09 pm

http://www.cbc.ca/beta/news/canada/british-columbia/vancouver-real-estate-prices-rising-1.3313000

Yet we keep getting reports like this , Benjie tal says no problem with housing, 3 stories on ctv about the real estate market last nite, it’s just a frenzy rite now , unbelievable and who do you believe?

#6 James on 11.10.15 at 6:12 pm

“Instead, agreements such as the TPP are about implementing policies that have nothing to do with comparative advantage, policies that are often designed to lead to higher consumer costs and concentrated corporate power. Treated as marginal issues, these policies are “free-trade free-riders,” coasting along on an unearned legitimacy.”

TPP is about many things, but free trade? Not so much

http://www.theglobeandmail.com/report-on-business/tpp-is-about-many-things-but-free-trade-not-so-much/article27169740/

#7 Frank on 11.10.15 at 6:16 pm

Weird. BC credit unions think everything is hunky-dory:

http://business.financialpost.com/personal-finance/mortgages-real-estate/british-columbia-house-prices-forecast-to-keep-climbing-into-2017

#8 Lulu on 11.10.15 at 6:20 pm

Eyes close, ears shut, brain fog and blood frozen, I don’t sense any of that of an emergency in the real estate world right now, Erm….. let me see…. 1M is not my cup of tea, doesn’t show my status, 3M is the new norm for status quo, which hoods will fit my bill, let me know….HA!!!

Seriously, when ppl so much in the game, they won’t see and chose not to listen to all the stat that point to the south, because they already in the water, it’s just so hard to get themselves out of that pile… God Bless!

#9 pinstripe on 11.10.15 at 6:21 pm

Many were patient to hear the report from the finance minister telling Canadians that the cupboard is bare. Albertans had the same experience when the apprentice used the new math for keeping the books.

there is a solution to the problem with unsold new sfh and condos. the 25 grand refugees will be able to experience the new digs in Canada.

#10 waiting on the westcoast on 11.10.15 at 6:21 pm

Well, at least the first comment is out of the way…

I was having lunch and chatting with the moist (but not likely virginal) bartender as she explained to me that she and her boyfriend must buy an apartment in Yaletown and that it was way better than paying rent.

I quickly asked her about how much debt she would be carrying and whether she thought it was a good idea to take this on right now – why not wait a year or two.

Glazed over eyes, emotional music swells, and she recites the litany of building equity and how prices go up and she doesn’t want to get priced out. I go back to reading some pathetic blog and wish her the best of luck.

Not looking forward to the next few years watching many friends get burnt by the shift in the market.

#11 NoName on 11.10.15 at 6:21 pm

master the civil service exams.

http://imagesmtv-a.akamaihd.net/uri/mgid:uma:image:mtv.com:11036504?quality=0.8&format=jpg&width=980&height=551

#12 TheAwakenedOne on 11.10.15 at 6:28 pm

Lest we forget… G}–,’—-

Militi Succurrimus

#13 earthboundmisfit on 11.10.15 at 6:29 pm

“A one-asset strategy”. Why berate the unwashed masses? They were only emulating the economic strategy of King Harpo the Hated.

#14 Darryl on 11.10.15 at 6:32 pm

#4 Mandria on 11.10.15 at 6:09 pm

Anyone else thinking buying opportunity for Bombardier at the $1.45 it’s sitting at now?”
“——————————————————————

If you don’t like your money.

#15 Nora Lenderby on 11.10.15 at 6:34 pm

Stormy weather ahead.

“Fellers it’s too rough to feed yer!”

https://www.youtube.com/watch?v=hgI8bta-7aw

#16 james on 11.10.15 at 6:34 pm

Harper = liar

Conservatives = liars

If the law has any provision for such, there should be prosecutions commenced.

#17 Vundo on 11.10.15 at 6:36 pm

#10 West coast: that is really a shame that she feels that way. I have come to terms with the fact I am priced out of the RE market. But you know what? I do not despair. I feel liberated.

#18 Mark on 11.10.15 at 6:39 pm

“Weird. BC credit unions think everything is hunky-dory”

Like deer in the headlights just before the weight of an 18-wheeler slams into them.

I guess the big question will be, will the government have the courage to tackle the problem of excess government spending, particularly on public servant compensation, head-on? Such that public servants return to their more traditional role of being paid at below the median industrial wage in exchange for the sort of job security that working for government implies? Or will they follow the Ontario example and go full steam ahead on giving the public servants the stars and the moon while everyone else basically is dying under the weight of taxation and an excess cost of capital?

#19 Rubin Eastwind on 11.10.15 at 6:40 pm

Did Harper try to lose the election on purpose because he feared what he would inherit with a win? Now Bill will be saying More “Nos” that yeses if he wants to manage prudently? This news is just the beginning, perhaps more surprises to come as we go?

#20 Victoria Real Estate Update on 11.10.15 at 6:42 pm

HOUSING PRICE CORRECTIONS DON’T HAPPEN SLOWLY

This chart shows what happened with 48 different national housing cycles from around the world over the last several decades (second chart).

3 to 6 years appears to be the time it takes for national housing price corrections to happen.

Nothing slow about that.

We can safely assume that all of these countries did all they could to prevent a price correction from happening. What country wouldn’t? No country succeeded with that.

The US correction was plotted on that chart. It took about 6 years to happen.

Incomes fell in the US as house prices corrected. Falling incomes isn’t an uncommon thing to happen as house prices fall from bubble levels. This helped push prices down even further in the US.

By 2011, Canada’s housing market was more overvalued than the US at its peak. That was 4 years ago and Canada’s bubble has inflated significantly more since then.

The Economist recently updated their assessment of Canada’s bubbly housing market, saying that Canada’s housing market is currently overvalued by 89% compared to rents and 34% compared to incomes (see chart). Canada’s bubble is significantly bigger than the 2006 US bubble and is, perhaps the biggest the world has seen.

Incomes are likely to fall in Canada as house prices correct. We know that falling house prices have a negative impact on incomes. If we consider that incomes in Canada have stagnated for some time with the income-boosting effect of rising house prices, it seems almost certain that incomes will fall as house prices fall.

Falling incomes in Canada will help push house prices down.

Canada’s (already weak) economy will be weakened significantly more by falling house prices and this will be another source of downward pressure on house prices.

Canada’s coming housing correction will be deep and many Canadian families will be forced to deal with the devastating financial consequences of buying houses at inflated prices.

#21 MSM-Free Zone on 11.10.15 at 6:44 pm

“….Calgary, of course, resembles an impending trainwreck. Actually a local office-leasing specialist calls it “a bloodbath.” “We’re at the highest point of fear and uncertainty now,” he says……..”
_________________________

Having lived, myself, through the 80’s Calgary trainwreck, they are nowhere near the ‘highest point of fear and uncertainty’ today.

#22 ShawnG in TO on 11.10.15 at 6:46 pm

banks have just raised their 5 year fixed rates. Bank of Ca not raising rates? who cares ! bond market dictates.

#23 Bob on 11.10.15 at 6:47 pm

It’s A Bloodbath in Calgary:

Office-tower owners in Canada’s energy hub are about to feel the full force of the oil-price crash.
Vacancy is already at a five-year high in Calgary and rents are the lowest since 2006 after thousands of office jobs were cut. Energy company tenants have now begun to ask for rental relief and are offering subleases for as little as half the going rate, according to real estate brokers including Jones Lang LaSalle Inc. and Avison Young Canada Inc.

That’s before five new office towers with about 3.8 million square feet (353,031 square meters) of space hits the market in the next three years.

“It is a bloodbath,” said Alexi Olcheski, an office-leasing principal at Avison Young from his office in downtown Calgary. “We’re at the highest point of fear and uncertainty now.”

http://business.financialpost.com/news/property-post/it-is-a-bloodbath-calgary-office-towers-are-about-to-fell-the-full-force-of-the-oil-crash

#24 Freedom First on 11.10.15 at 6:51 pm

Gender challenged FM Bill Money :-)

Yes. No wonder so many men world wide have left the building. The anti-male socialist building of entitlement. No lobbying, no complaining, no debating, no fighting, no arguing. Men are now making their own new rules to live by. In my day we were just called “confirmed bachelors”. Today, they are called men who have taken the “red pill”. Many of these men are exceptional males, and obviously very intelligent. They see everything. Governments world wide are frantic about the plunging marriage and birth rates. They are responsible for it, and still hell bent on blaming men for everything. Still wondering why male enrollment in colleges universities are down? Only one example of many.

Males leaving the buildings en masse is crushing the consumer economy. Majority of advertising is directed at females, as they drive the consumer economy. Governments know and abet this.

Don’t kid yourself, I bet Garth, in his financial advising work sees the financial ruin heaped on males by our courts on a regular basis. I have been seeing it all my life, and today, it is much much worse.

However, thanks to the internet, many men are becoming aware before they ruin their lives. And their is a constant attack on internet sites that inform men of the truth. Men are winning. And the Feminazis hate it.

#25 Minister of Sewage Dumps on 11.10.15 at 6:51 pm

Major dumping begins at midnight…..spewing sewage on those cute belugas…. minister has far better things to do such as making sure those filthy dirty tar sands are taxed. Those western knuckle draggers need to learn a thing or two about running a clean ship.

http://www.cbc.ca/news/canada/montreal/montreal-sewage-dump-city-will-announce-details-today-1.3311931

#26 MSM-Free Zone on 11.10.15 at 6:54 pm

“…..Gone is the ability to return to balanced books by 2020, which means all of the Liberal mandate will be one of red ink. Added to the disgraceful Harper years, during which $170 billion in new debt was added, we’ll likely go at least 13 years of living beyond our means……”
_________________________

Every time I read non-partisanship in a blog, I know I’m getting the facts, and not some BoC, Big Six, CMHC, CREA, PostMedia, nor Federally twisted spin and bullshit.

#27 RayofLight on 11.10.15 at 6:56 pm

#4 Mandria on 11.10.15 at 6:09 pm
Anyone else thinking buying opportunity for Bombardier at the $1.45 it’s sitting at now?
—————————————————–
BBD.B.Ts projected earnings growth rate is -20% to 2017. I can’t see this being a good deal until the earnings growth rate goes positive.

#28 Bill Gable on 11.10.15 at 6:59 pm

Just when you write an article that is superb, you come out with another gem, that sets the bar higher.

This is such a clear and cogent look at a bunch of things that scare me witless.

After seeing first hand, boots on the ground, 2 of Europe’s Cities stumbling towards the falls, I was also noting some really anecdotal, but telling signs that coincide with Mr. Turner’s call of “more Pain coming”…
Duty Free stores in every Airport were EMPTY.
Major shopping areas (like “The Champs” in Paris) had foot traffic – but prices are falling on just about everything except luxury items. Marks and Spencer in Paris, was dumping ladies top end stuff at 70% off. Huh?
I could go on, but you get the idea.

Last point. I am sorry – but it was weird the way Harper scuttled away like a Crab at High tide.
He wanted to be out of town, when the Liberals got to see the books, maybe?

You post today was an indictment.

Thank you for your insights.

#29 Mark on 11.10.15 at 7:01 pm

” Benjie tal says no problem with housing”

When I saw him on TV the other night, the impression I got was that he was either a francophone without a sophisticated mastery of English. Or he had been drinking. Either way, he didn’t seem to be too credible at all.

The media has a serious credibility problem if they’re pushing this view that the RE market is hot, when evidence is abundant that it is anything but. Then again, who actually watches Canadian TV or reads Canadian newspapers anymore?

Benny Tal is of Latin heritage, not French. Smart guy, actually. — Garth

#30 Randy on 11.10.15 at 7:01 pm

Happy that I have a dual citizenship.

#31 Nemesis on 11.10.15 at 7:02 pm

#TheDogsOfWar… #AlsoRemember…

https://youtu.be/4tgxoas-36Y

#32 Future Lazy Senator on 11.10.15 at 7:03 pm

Ashley Madison is the Minister of Affairs and Extra Curricular Activity, isn’t she? Or maybe Sophie fired her along with the chef?

By the way is anyone else staying in the country with me? I did not get invited to Paris but it sounds like everyone else has.

Mr. Morneau has saying a lot without saying anything down already so we should be fine. In a week we should hear him say the Conservatives left us in a much worse state then they led us to believe.

I have been listening to the new cabinet ministers and am reassured that they have scheduled meetings about setting up meetings to discuss how they can meet to assess the best way to approach figuring out what the problems are arranging meetings.

#33 JSS on 11.10.15 at 7:07 pm

FYI – Prime Minister Justin Trudeau’s hair has evolved throughout the years, from long and luscious waves to an all-business do.

http://www.thestar.com/news/canada/2015/11/10/meet-the-woman-behind-justin-trudeaus-hair.html

#34 TRT on 11.10.15 at 7:13 pm

70% of Canadian RE is doomed.

30% (Van and Toronto) go up, up, up. This is where the new generation of migrants want to settle. This is where global money wants to settle.

Track record speaks for itself.

#35 young & foolish on 11.10.15 at 7:14 pm

… looking forward to sunshine and ponies :P

#36 TRT on 11.10.15 at 7:16 pm

My favourite Diwali Candy, Quality Street, shrinking in size over the years.

Now 550 grams :(

No inflation? Yeah right. Garth, are you part of ‘The Machine?’

#37 Rainclouds on 11.10.15 at 7:17 pm

It would appear the Con formula that worked so well during the Bush 2 era was wholeheartedly adopted by Harper. Inherit a budgetary surplus. Spend like a drunken sailor, implement bad discredited policies.(crime, reduce GST) Leave a stinking pile of debt and require somebody else to deal with it. Nice. thanks

#38 Fuzzy Camel on 11.10.15 at 7:18 pm

Harper is an economist, he knows Canada’s economy is out of gas. He didn’t even try to win the election, I am of the opinion he threw the election on purpose, with his idiot comments on muslim refugees and marijuana, two of the sacred cows of the rainbow flag waving feminist commie nazis of Toronto.

The stock market seems to be pricing in a rate hike. I for one welcome a rate hike. I’m sick of the smug HGTV crowd rolling around their leased Mercedes, shopping for their million dollar dump to buy in Toronto, working some yuppy 6 figure government job that produces nothing of value.

What ever happened to hard work, saving, living within your means, and only using debt for productive purposes?

These people deserve this swift kick in their butts, and the boot is only an inch away.

#39 likeyouknow,whatever on 11.10.15 at 7:19 pm

#24 Freedom First

F.F. you’re “looking for love in all the wrong places” man.
Imagine that in my best singing voice.

#40 Former Fool on 11.10.15 at 7:24 pm

I’m waiting for all of this to translate into lower residential rental rates. Been keeping my eye on rentfaster.ca and I think a lot of landlords are living in lala land, believing that the drop in oil prices and the ensuing job losses has no impact on the rates they can command.

#41 broader mind on 11.10.15 at 7:28 pm

Are you going to tell us where to find the pot of gold tomorrow. I can’t wait. There must be an upside somewhere.

#42 Smartalox on 11.10.15 at 7:28 pm

@Freedom First #24:

Men are ‘Winning’? Men like Charlie Sheen?

Men aren’t winning, and many are about to lose a lot more. Have you heard that suicide rates for men over 50 have spiked in recent years?

#43 Linda on 11.10.15 at 7:33 pm

So housing is falling in value as the economy slows down. This is nothing new. Given that there have also been recent news articles claiming that the recession is already over – which seems a bit premature, given the market fundamentals & the issues mentioned in this blog & via the media in general – it seems likely that housing prices will continue to correct for the rest of 2015 & throughout 2016, with possible lingering after effects in 2017. The shrewd or the vulturous will snap up bargains in areas that have always held value; the impatient will emulate lemmings to their eventual financial detriment. No words of wisdom will stop the march to the cliffs. About the only thing that might stop it is lenders refusing en masse to approve any mortgages until the economy improves & jobs are both plentiful & well paid. The likelihood of this happening I leave to the imagination.

#44 Chopper on 11.10.15 at 7:34 pm

Let it rain, let it rain TrueDoug will fix all our problems by legalizing Ganja so we all gonna get high and our problems will drift away as we smoke out brains our.

All them liberals got their wish. Thank God I have two rental property in Florida when the S&^t hits the fan. With the exchange I am flying high like I smoked some of the legalized weed our PM wants to legalize.

#45 Jeff B on 11.10.15 at 7:39 pm

#3: So shouldn’t that first sentence read that “The Conservatives apparently lied about and misled the people of Canada”.

All parties have done and will do, because so many Canadian electors reward them for doing it. Is there no one sane enough left to recall Trudeau Senior’s election win against Joe Clark and how he got it? He laughed about it later, saying it didn’t matter how they got in, only that they got in.

What the Conservatives may have pulled off is the biggest “bribe them with their money and their children’s money” election bamboozle in the nation’s history: reducing the GST from 7% to 5%. As soon as I heard it I knew they’d won the election, and that we’d see deficits for a very, very long time. Possibly for the rest of my life.

#46 Rapier Wit on 11.10.15 at 7:41 pm

I am just back from the Banff Film Fesitval. There is a beautiful and moving dog film called Denali – here’s a link. https://vimeo.com/122375452.

Hope it makes up for much of the political/financial nonsense hitting the media today. There are things much more important.

#47 Carly in Cabbagetown on 11.10.15 at 7:41 pm

Sorry, Garth, I just can’t let this one go past.

You referred to “…newly-minted but gender-challenged Finance Minister Bill Morneau…”.

I read that as being “challenged”, (unfairly of course – it’s implicit in the language), because he is part of a cabinet that explicitly chose to limit males to 50% of the personnel. (Rather than the 49.5% males comprise of the total population?)

So men are at a disadvantage, and an unfair one in your eyes, because of this, therefore “challenged”.

Did I get that right? Was it a typo?

This sounds sadly consistent with a blog that too frequently contains misogynistic commentary and has about a 90% male readership.

But is it consistent with your real values, Garth?

Care for an edit?

We all make mistakes, and it appears you have made one here, a particularly offensive one.

#48 Squirrel meat on 11.10.15 at 7:44 pm

#24 Freedom First on 11.10.15 at 6:51 pm

Gender challenged FM Bill Money :-)

Yes. No wonder so many men world wide have left the building. The anti-male socialist building of entitlement. No lobbying, no complaining, no debating, no fighting, no arguing. Men are now making their own new rules to live by. In my day we were just called “confirmed bachelors”.

————————–
Hadn’t tagged you as gay, but all good.

#49 praire person on 11.10.15 at 7:44 pm

Fuzzy Camel #38
Harper is not, NOT, an economist. I took more economics than him and I’m not an economist. I’m not an economist because I did not work as an economist. I did not practice the concepts that I learned. Saying Harper is an economist is like saying someone who has read books on figure skating is a figure skater. He has a master’s degree in economics. No Phd. No experience. His being sold to the Canadian public an economist was part of the big lie. As Goebel’s said, tell a lie often enough and eventually people will believe it is true. In spite of his putting on military looking clothes for photo ops, he was not a soldier, either.

#50 Herb on 11.10.15 at 7:46 pm

#12 The AwakenedOne (?)

Pro Patria!

#51 Jeff B on 11.10.15 at 7:46 pm

I should add to my earlier post:

The GST reduction is practically irreversible. Any party wanting to do it would balk, because of the anticipated backlash from the electorate. It requires a party that would knowingly sacrifice themselves (in the next election) to get it done … but once they’ve fed from the trough …

#52 Freedom First on 11.10.15 at 7:46 pm

#17 Vundo

Congratulations on your liberation!

You are now free of your emotions ruling your decisions and able to focus on doing what is always in your best interests. It is a great way to live and any idiot can do it. I know.

#53 Ken on 11.10.15 at 7:49 pm

Today’s article is crystal clear regarding the direction of not just Housing but the economy as a whole, I’ve heard very few say you nailed it, Yet only the few will admit you were right they’ll wait till it all comes to fruition then blame you for being right,

Hold onto those britches boy’s its coming and its going to be a doozie, Great Work Garth

#54 Balmuto on 11.10.15 at 7:50 pm

“Isn’t this completely consistent with a country where citizens have pickled themselves in debt, adopted a one-asset strategy, and are completely unprepared for a normalization in interest rates?”

Yep. That’s the Canadian mentality right now. Just look at this:

http://www.bloomberg.com/news/articles/2015-11-10/hedge-funds-leverage-are-hot-formula-for-canada-pension-funds

#55 Freedom First on 11.10.15 at 7:52 pm

#20 Victoria Real Estate Update

Great post. Sad, but true. As always, a self inflicted financial mutilation by the herd. Insanity is easy to see, but extremely difficult to treat. I know.

#56 Rexx Rock on 11.10.15 at 7:58 pm

It can’t be that bad.Canada’s two largest cities both have strong growth and real estate keeps going higher.That means both cities will boom for at least 2 more years.Even Victoria is booming.So Alberta is hurting,it will come back strong like it always done.These higher prices also reflect higher wages to support this growth in housing.It can’t be just cheap mortgages,theres no way.

#57 conan on 11.10.15 at 7:59 pm

” the disgraceful Harper years” Nailed it

Give us a cat pic ffs.

#58 SWL1976 on 11.10.15 at 8:03 pm

…we’ll likely go at least 13 years of living beyond our means.

At least we’re good at it.

We’ve been doing it steady for years so why stop now?

Giving away our resources for next to nothing and taxing the population into the poor house is the Canadian way

Yay!!!! Phoney capitalism

#59 Chaddywack on 11.10.15 at 8:03 pm

BC Credit unions feel that prices will keep exploding upwards in Vancouver.

Interesting no mention of any Rich Chinese Nationals in their latest story….all about interest rates being low.

#60 Renter's Revenge! on 11.10.15 at 8:05 pm

@24 Freedom First:

Does taking the red pill ever involve marrying a woman for her money?

#61 White Crock BC on 11.10.15 at 8:06 pm

I love this quote gleaned from Reuters.

“I believe the (Federal Open Market Committee) is on pace to hike come hell or high water, almost literally,” said Kim Rupert, managing director of global fixed income analysis for Action Economics, in a Reuters Global Markets Forum interview. “They will be lifting off unless there is a real meltdown.”

Damn the icebergs, full speed ahead!!!!

#62 Daniel on 11.10.15 at 8:15 pm

TSX looking ready for a cliff dive.

#63 kommykim on 11.10.15 at 8:22 pm

RE:

#42 Smartalox on 11.10.15 at 7:28 pm
@Freedom First #24:
Men are ‘Winning’? Men like Charlie Sheen?

A triple divorced wife beater, antivaxer, and 911 conspiracy theorist like Charlie fits right in with the rest of the steerage section on this blog. LOL!

#64 Freedom First on 11.10.15 at 8:23 pm

#42 Smartalox

Male suicide rates of all males and in men over 50. Yes, I am aware. So are many of the younger men today. Men killed on the job- 98% of total. Men seriously injured and all ugly stats like this are male dominated. Men are killed in the wars. Our society does not care about men. Men are treated as disposable. Young men world wide are learning. Men get nothing but are expected to give everything. And yet are hated and disrespected today. Good men are walking away. The game is rigged and they know it.

#65 Jane Goodall on 11.10.15 at 8:23 pm

Hey, where I live here in Toronto, I would receive many Liberal literature from John Cannis under the last Federal Liberals, Chretien and Martin duo about how the lower and lower interest rates was saving Canadians billions of hat dollars in annual interest. It was supposed to be such a great thing.

Now, it is the conservatives fault that people are so stupid to be in debt to their eyeballs and have no self control and no financial intelligence or any intelligence when it comes to their finances.

I don’t care if there were 40 year amortizations or other ways to lower mortgage payments and stretch them out. If mortgage rates were 8%, 9%, 10%, we could not reach this point in the first place.

It is solely the central banks, U.S. Federal Reserve, Bank of Canada, Bank of England, ECB, who engineered this debt binge and this buying real estate is good debt nonsense.

People are pretty stupid too and there are those also that know they will just go bankrupt and don’t care.

These are all the same people that were all smiles when interest rates were dropping year after year and thought that is was so great. Now, they are whining about their high debt and cost of living from electricity to property taxes to insurance.

#66 Canada bets on a Turd Machine on 11.10.15 at 8:23 pm

“Finance Minister Bill Morneau today spoke about the need for smart, strategic investments to jump-start the economy and create new opportunities for growth.”

BWAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAAA !!

We’re from the government…we’re here to help.

Why is it that any time more money is raised for ‘strategic investments’ the civil servants go on strike for higher salaries and fatter pensions leaving nothing for the infrastructure program intended?

The 170 Billion Harper added to the debt was entirely sucked away pandering to the civil service for ‘labour peace’. This is a lesson that should be taught in poli-sci classes the world over. leaches once fed do not brainstorm about world peace…..instead they shit and keep sucking.

#67 BC Guy on 11.10.15 at 8:24 pm

The Canadian economy is in full speed free-fall now. Strap on your seatbelt because it’s going to be a wild and scary ride. More thrills and chills to come.

I’ve lived through many of these recessions before: 1974, 1983, 1990, 2000, 2008. There seems to be an 8 to 10 year cycle of boom and bust in this country. Get ready for the bust.

10 years of Conservative/Harper’s rule has left us with this legacy: more debt and deficits, wealth-disparity at all time highs, world’s biggest real estate bubble, zero progress on climate change, zero progress on environment. A whole generation of young Canadians who can’t afford a house and are struggling to find full-time, meaningful employment. Harper doesn’t control the price of oil but he sure placed all his bets on the oil industry and the housing industry at the expense of science, technology, R+D, and manufacturing.

#68 Gray Man on 11.10.15 at 8:25 pm

Did Harper throw the Election ? Naw this is how it works!
http://itccs.org/2015/10/20/three-minute-memories-triumph-again-liberals-trounce-conservatives-in-the-canadian-election-but-the-corporation-carries-on-for-now/

#69 Leo Trollstoy on 11.10.15 at 8:25 pm

Harper has set up the Libs and Dippers for a nasty fall.

Whether by design or chance, it doesn’t matter.

Inevitable.

Those in power will be tarred and feathered.

#70 European on 11.10.15 at 8:26 pm

May be his $1 million dollar job was in jeopardy, or may be he was going to face those challenges as well in that position and decided to tackle the problem at the root cause :) because you can’t help the economy from running a corporation.

I got to give him the benefit of the doubt that he knows what he is doing, at least for now, even though he gave up all that money.

#71 Steven Moore on 11.10.15 at 8:34 pm

#20 VREU

Thank you for your comments that are often well substantiated. Please continue to offer your insights.

#72 Market Man on 11.10.15 at 8:37 pm

at this point, saying a correction is coming is like crying wolf! People have been saying this for years, yet nothing

Carrying costs are low and thats what economists are looking at.

Lenders continue to lend!!

With all this talk overprice homes from CHMC its sounds like they are setting up for more tightening of mortgage rules
Although we have had several rules changes and it has done nothing to slow down price appreciation or buyer demand.

its all about the lenders and they want to lend so…..

#73 Freedom First on 11.10.15 at 8:37 pm

#43 Linda

Yes. Sad but true.

Easy to use the imagination for me. I noticed the hundreds of millions of lemmings that went over the edge in recent U.S, European, and Asian countries RE busts. There will be blood Canada wide. Alberta’s bleeding right now. I am keeping a low profile as I always do. It is the smart thing to do. Never mind the comments aimed at me here, I mean, look at Garth, a public figure, yet still receives volumes of hate mail on a regular basis. People hate the truth. Both the foolish consumers and the parasites who feed on them.

#74 common sense on 11.10.15 at 8:40 pm

If Bill Morneau does not YET regret leaving his $1 million dollar salary by now, he is indeed the Greater Fool.

TSX inverse funds growing daily….

And am still amazed at people 50 plus living in Toronto houses who haven’t sold their paid off valued million dollar bungalows and moved to the Niagara Penninsula to homes priced under 275K.

#75 Patrick on 11.10.15 at 8:42 pm

Canadian public’s conclusion of the Greek debt crisis:

Cutting back spending = bad
Accumulating huge debt load = good

It’s an odd conclusion, the whole ‘austerity doesn’t work’ thing. Maybe we could just avoid the crippling debt from the start? Just thinking out loud here.

#76 Freedom First on 11.10.15 at 8:42 pm

#47 Carly in Cabbagetown

Carly. No mistake here. Nothing but the truth. The truth with great wit and humour. Relax and enjoy it.

#77 Freedom First on 11.10.15 at 8:44 pm

#48 Squirrel meat

Typical. Avoid the issue and make personal attacks. Shame on you. Shaming men no longer works. We are onto you.

#78 Axxman on 11.10.15 at 8:52 pm

As a 1%er, my response to the Liberal plan is this – I’ve stopped tipping at restaurants, and I’m considering stopping my $10,000 annual contribution to a charity. Justin says the wealthy need to step up and give to the less fortunate – guess what – living in Toronto with kids I don’t have buckets of cash, but I give generously…but when you legislate benevolence – that’s offensive. Most servers don’t claim tips on their returns so why would I double subsidize them?

#79 Freedom First on 11.10.15 at 8:53 pm

#60 Renter’s Revenge

Not for me. I love women, but I live alone. Like I have male friends, but I wouldn’t live with any of them either. All pain no gain.

#80 IHCTD9 on 11.10.15 at 8:54 pm

#16 james on 11.10.15 at 6:34 pm
Harper = liar

Conservatives = liars

If the law has any provision for such, there should be prosecutions commenced.
__________________________________________

Yeah, and while they’re at it, they can start an investigation on Wynne too.

Oh, wait a minute….

#81 GAV on 11.10.15 at 8:56 pm

New government comes in, and with amazing efficiency
Announces that things are worse than they thought.
Where have I heard that crap before.
Oh yeah, the last time the Libs got in. Because they have a proven finacial record.
Wynn will give them advice.

#82 Gray Man on 11.10.15 at 9:01 pm

Interesting to note household debt is 140%
http://wolfstreet.com/2015/11/09/australian-housing-bubble-set-to-burst/

#83 IHCTD9 on 11.10.15 at 9:01 pm

#17 Vundo on 11.10.15 at 6:36 pm
#10 West coast: that is really a shame that she feels that way. I have come to terms with the fact I am priced out of the RE market. But you know what? I do not despair. I feel liberated.
____________________________________________

You know what someone good at math and mortgages should do? Sit down and figure out just how much more an individual (or couple) needs to make in order to live and work in a big urban center compared to a small town.

200K will get you a decent place in small town (20-50 thousand population) Ontario outside of commuting range to Toronto. If you want a place for 150K we got ’em – or something similar to a 1M 416 shack for less than 100K, plenty available. Hell, that has to be what, a $600.00/month mortgage payment? Cheaper than rent.

I hear you can get a nice 4 bedroom bungalow on an acre in Windsor for like 150K.

Could a couple not serve coffee at minimum wage and own a house at todays rates with these prices?

#84 S.Bby on 11.10.15 at 9:02 pm

Condo’s sell out in 604-land:

http://www.news1130.com/2015/11/10/65-condo-presale-squamish/

60 per cent of the units were priced at under $300,000.

#85 mnpr on 11.10.15 at 9:04 pm

Nora #15 thanks for that link, that reminder, and a chance to listen again to a great song from a national treasure.

#86 Drill Baby Drill on 11.10.15 at 9:04 pm

“Well, tomorrow’s blog will be all ponies and sunshine.”
I do not want ponies nor sunshine I want the facts. I notice the newly minted environment ministers’ first act was to allow 1 billion litres of raw sewer gunk to flow into the St. Lawrence. Hey the city of Victoria BC does it why not Montreal ?

#87 Drill Baby Drill on 11.10.15 at 9:05 pm

Don’t worry Son of Trudeau PM Wynne will provide assistance in the background

#88 Gonkman on 11.10.15 at 9:07 pm

@#77 Freedom First

Don’t fret Freedom… Shame is about the only thing they have left. It doesn’t work on me either.

Squirrel probably hit “The Wall” 10+ years ago and shaming is about the only Ammo she has left.

I really hope JT Legalizes Pot so I can watch this pending real-estate nightmare unfold and “Giggle” along.

#89 Joseph R. on 11.10.15 at 9:12 pm

#80 GAV on 11.10.15 at 8:56 pm

“Oh yeah, the last time the Libs got in. Because they have a proven finacial record.”

Indeed, Paul Martin protected our banking system when he refused the mergers of RBC with BMO, and CIBC with TD in the late 90’s despite the ascension of the Conservatives.

Canada’s best financial years were under Chretien and Martin, despite the fact they couldn’t even tolerate each other.

#90 IHCTD9 on 11.10.15 at 9:13 pm

#18 Mark on 11.10.15 at 6:39 pm

I guess the big question will be, will the government have the courage to tackle the problem of excess government spending, particularly on public servant compensation, head-on? Such that public servants return to their more traditional role of being paid at below the median industrial wage in exchange for the sort of job security that working for government implies? Or will they follow the Ontario example and go full steam ahead on giving the public servants the stars and the moon while everyone else basically is dying under the weight of taxation and an excess cost of capital?
____________________________________________

I question I often ponder. I would not bet on it. Look at Greece, the only reason they even had a government was because the taxpayers of the EU were paying to keep it alive – and AT was STILL trying to hire thousands more public employees. Even while attempting to strong arm their creditors – who were singular reason anyone in Greece had a pot to piss in.

If a left wing government can’t smell the roses even AFTER they have gone broke, then that will probably be our fate here in Canada. Keep an eye on Ontario, it will be first to run into big financial problems if this is the road we are going down.

The above reasoning is why I am seriously considering a sector change out of the private should I be so lucky to snag a decently secure govy job. Maybe the LCBO, business should only get better as times get tougher!

#91 IHCTD9 on 11.10.15 at 9:15 pm

#87 Drill Baby Drill on 11.10.15 at 9:05 pm

Don’t worry Son of Trudeau PM Wynne will provide assistance in the background
_________________________________________

Hell!- don’t say shit like that out loud!!

#92 Mark on 11.10.15 at 9:15 pm

” Because they have a proven finacial record.”

Actually the Liberals do have a pretty good record, at least in their last administration. When they took over the reigns from the Campbell/Mulroney government in 1993, they basically managed to keep net debt expansion at the federal government less than zero, ie: a net surplus.

The Harper Government ™, in contrast, added $260B of debt from 2005 to 2015. Not to mention hundreds of billions worth of additional debt not fully accounted for at the CMHC in the form of contingent guarantees against subprime mortgages, and a significant increase in GoC employee pension obligations.

Is past performance a sure-fire indicator of future results? But more recent history is definitely on the side of the Liberals implementing significant austerity rather than the free-spending profligate ways of the Harper Government ™ which seemed to create incredibly little value in the pockets of most Canadians except those connected to a small handful of favoured industries.

#93 omg the original on 11.10.15 at 9:17 pm

Added to the disgraceful Harper years, during which $170 billion in new debt was added, we’ll likely go at least 13 years of living beyond our means.
———————-

Add to that the billions upon billions provincial governments have added to debt over the past decade.

Government spending in Canada is out of control. Fireman, nurses and policy analysts making $110,000 or more including benefits. Entitlement programs for all.

The only thing that has enabled it is Canada very strong economy versus the rest of the world. Sure that has changed but not to the point Canada has to worry about curtailing spending.

Unfortunately the only way to get spending back under control is a good old fashioned fiscal crisis.

And Canada’s debt to GDP isn’t bad so no fiscal crisis is likely any time soon.

So just get used to bloated massive governments.

Hey maybe you can get a government job.

#94 IHCTD9 on 11.10.15 at 9:19 pm

#84 S.Bby on 11.10.15 at 9:02 pm
Condo’s sell out in 604-land:

http://www.news1130.com/2015/11/10/65-condo-presale-squamish/

60 per cent of the units were priced at under $300,000.
___________________________________________

Wonder how many will go directly up for rent?

#95 Jonathan on 11.10.15 at 9:22 pm

Freedom First,

I understand you have chosen this time to come out on this blog as a gay male. You have my support and respect for your honesty.

It goes a long way to explaining your predilections as expressed here, living alone in a somewhat self-loathing manner for a gay man of a certain age, still dealing with the unfairness of past societal prejudices.
I get it.

You are a fellow human being, and as a married heterosexual male you have my support and while I may disagree with much of what you say, there is absolutely nothing wrong with your lifestyle choices.

Peace and equality to you.

#96 omg the original on 11.10.15 at 9:27 pm

Victoria Real Estate Update on 11.10.15 at 6:42 pm
HOUSING PRICE CORRECTIONS DON’T HAPPEN SLOWLY

3 to 6 years appears to be the time it takes for national housing price corrections to happen.
——————-

Yes as I have been saying since 2009 this is going to be a long, slow grind down – not a sudden US style correction.

3 to 5 years of nominal decline followed by several years of real decline – similar to TO, LA and DC in the 1990s.

Could end up with a 40-60% real decline in prices in TO and YVR by the time it all done.

Might be 8, 10, 15 years of decline on this bloated mess Canada is in.

#97 Chris in Nanaimo on 11.10.15 at 9:35 pm

DELETED

#98 For those about to flop... on 11.10.15 at 9:43 pm

Freedom First ,you are not the only one struggling to keep up with the times.
You are old school and so am I , we just went to different schools.
When I was doing the dating thing 15/20 years ago if you asked someone for some tinder they would give you a handful of sticks nowadays if you ask for some tinder you will get a handful of S.T.D’s.
I enjoy being married ,imagine not having to start a new conversation with a new person each day. I come home from work and we just pick up where we finished the previous day. I like seeing the same smiling face each day ,I don’t consider this a burden.
You seem to think that it’s all about you but the other person has to put up with all your nuances as well.

#99 Peanut Garblemeister on 11.10.15 at 9:47 pm

#175 The American on 11.10.15 at 9:46 am
At #108: Rock Beats Paper, ummmmmm, I’m calling a bullshit on you. …… God damn canadians just don’t get it, and they don’t want to get it. Face it, the canadian economy sucks ass in nearly every imaginable metric. Sure the U.S. has its problems, and it always will, but the U.S. is BY FAR more dynamic than canada ever will be. The real jobs, the jobs that matter, are in the States and always have been (as opposed to half the population of canada be some form of mindless zombie government employee). Again, everyone seems to get this concept, expect for a canadian…”

Hey cool it with the insulting comments buster, some of my best friends are zombies!

#100 Peanut Garblemeister on 11.10.15 at 9:52 pm

The Conservatives apparently left four surprise gifts for the boy wonder…Garth”

Good point Garth, have been thinking all along that Harper did to Trudeau what Bush did to Obama…leave a legacy of economic and political problems to the extent that all the focus is on troubleshotting and very little on actual policy formulation….the difference here, Harper is secretly planning a comeback when it all goes belly up, and will be able to do a great Powerpoint presentation showing how “good” it was while he was in power, before the kid blew it all up!

#101 Rexx Rock on 11.10.15 at 9:55 pm

I’m in Puerto Vallarta for a month and the weather is awesome,sunny and warm every day.A friend comes down here every year for 6 months.He rents a furnished studio with utilities for $380 cad.Escape Canada if you can and live cheaper here with wonderful people and culture and have the freedom to drink and smoke without getting fined.More freedom for those who want it.

#102 Smoking Man on 11.10.15 at 9:58 pm

“The risk of a severe home price correction in B.C. and Ontario has risen to a medium probability event given the continued run-up in prices in Toronto and Vancouver,” says TD Economics. Yes, the same bank that makes mortgages, so you can imagine what the real story is.
……

Bull Dung….. Supply and demand.

2000 people a week make the GTA home.

This is what’s going on,

BOC is going to cut again, so all the synchronized MSM dumping on the housing market is a preemptive attempt to crush demand before the hammed drops again.

Watch and learn grasshoppers….

This will be the crazies spring market the GTA has ever seen.

#103 vb on 11.10.15 at 9:59 pm

re #4 bombardier

any good news it’ll fly no pun intended.

C series is almost certified, competitors can’t touch it. They have assets to sell to get them going again. I’m not a fan of bail outs, let them take their lumps and fix get on a better path. risk reward! be nimble lol

cheers

#104 Debts and debts on 11.10.15 at 9:59 pm

It’s an odd conclusion, the whole ‘austerity doesn’t work’ thing. Maybe we could just avoid the crippling debt from the start? Just thinking out loud here.

The US went into unprecedented debt after 2008.
Now they are supposedly the poster boy of the good economy.

Keep thinking.

#105 Terrence Bumbleford on 11.10.15 at 10:05 pm

#78 Axxman on 11.10.15 at 8:52 pm
As a 1%er, my response to the Liberal plan is this – I’ve stopped tipping at restaurants, and I’m considering stopping my $10,000 annual contribution to a charity…”

Actually the whole tipping practice is a North American invention….in all of Asia and elsewhere, including wealthy countries such as Japan, it isn’t done….ever. To take it a step further, you have a moral obligation NOT to tip as by doing so, you are economically encourage people to stay in underpaying professions by subsidizing them, in addition to picking up part of the wage bill for employers. As unpopular as it may seem, everyone should stop tipping now!

#106 Intuitive Missus on 11.10.15 at 10:09 pm

#28 Bill Gable

Touché! Well said.

#107 Tony on 11.10.15 at 10:15 pm

Re: #4 Mandria on 11.10.15 at 6:09 pm

When I think of Bombardier I think about Spar Aerospace.

#108 Mark on 11.10.15 at 10:15 pm

“C series is almost certified, competitors can’t touch it.

Agreed. A few uninformed people in the media seem to think that Airbus and Boeing are ‘in competition’ with Bombardier. But their offerings are completely and utterly uncompetitive in the market segment targeted by Bombardier. The real issue BBD faces is that of confidence in the short-medium term performance of the aircraft. In short, nobody wants to buy unproven airplanes, yet in order for the airplanes to be proven, someone needs to buy ’em and fly ’em.

They have assets to sell to get them going again.

Not really. The cupboards were pretty bare. The equity offering to Quebec was basically a hail mary move at terms highly dilutive of existing shareholders.

Having said that, I see no particular reason why any investor would want to own an individual security as opposed to a basket such as XIU.

#109 Washed Up Lawyer on 11.10.15 at 10:18 pm

I owe the Fort McMurray Real Estate Board an unreserved apology. A few days ago, I said they would take 2 weeks to crunch the October numbers (so a few sales could be pumped on the September numbers).

Well, they scurried and busted out the numbers in 10 days flat. Kudos. I apologize FMREB.

http://www.fmreb.com/sites/5098200ae7e1b41bc50042de/content_entry50bf9565e7e1b41bc501133d/5642716d2c1cc4984b1ad473/files/October_2015.pdf?1447195120

Mining town numbers. I am so happy that my house in Calgary is in something more than a one horse town. It’s a two horse town. Patches is doing OK in the traces but Prince has Navicular Syndrome. And maybe a slight case of Bog Spavin.

And from the horse’s mouth:

“Real estate agent Lisa Hartigan, Mr. McGroggan’s partner, said Fort McMurray’s house prices have dropped by about 20 per cent.”

A snubbing by a major employer will have that effect.

http://www.theglobeandmail.com/news/alberta/suncor-snubs-fort-mcmurray-workers-as-hiring-begins-for-fort-hills-mine/article27200630/

#110 Leo Trollstoy on 11.10.15 at 10:23 pm

Bumbleford on 11.10.15 at 10:05 pm

Sold!

#111 Drill Baby Drill on 11.10.15 at 10:24 pm

Guess where the Libs are going to put the 25K newly minted Syrian-Canadians ? Yep in all those glass boxes in the sky in hogtown.

#112 Retired WI Boomer on 11.10.15 at 10:27 pm

Wonder where the NEW government is even trying to minimize the burden of deficit spending.

Guess that was “old school” thinking.

So, Canada was a decent neighbor. Wonder what the new tenants will be like?

#113 CalgaryCarGuy on 11.10.15 at 10:29 pm

Re/“….Calgary, of course, resembles an impending trainwreck. Actually a local office-leasing specialist calls it “a bloodbath.” “We’re at the highest point of fear and uncertainty now,” he says……..”
_________________________

Having lived, myself, through the 80’s Calgary trainwreck, they are nowhere near the ‘highest point of fear and uncertainty’ today.
——————————————————————
I also remember that massive recession in the early 80’s. I don’t ever want to see that again but, the way things are going, it is maybe possible. Yikes! So many younger people buried in their phones have no clue how bad things can get.

#114 Cici on 11.10.15 at 10:29 pm

Hmmm…leading global experts, our PBO and Big Five banks sounding the alarm bells, yet the BC credit unions are predicting prices will keep climbing well into 2017:

(http://business.financialpost.com/personal-finance/mortgages-real-estate/british-columbia-house-prices-forecast-to-keep-climbing-into-2017)

Guess there are two possibilities:

1. The BC credit unions know more than everyone else.
2. The BC credit unions are in a terrible pickle and trying to save their sorry dill derrieres by attempting to convince the masses to keep piling into RE.

#115 lee on 11.10.15 at 10:29 pm

Dear Smoking Man,

2000 a week? I actually think it’s a bit more. In any event, that is 100000 a year. That’s about 50000 a year in Toronto. That’s probably 13000 to 14000 households. That means we need 10000 new places for them to live since many immigrants live many years with family. Factor out people who leave GTA each year we need no more than 10000 new places a year for immigrants. That’s about 5 new condo complexes or subdivisions given many new houseowners rent their basement. Immigration is a drop in the bucket in a city selling 120000 units a year right now. I think they should call you drinking man.

#116 john duffy on 11.10.15 at 10:38 pm

#68 Gray Man

Do you really believe that crap?
Google kevin annett ittccs and see how you have been conned.

#117 Nagraj on 11.10.15 at 10:40 pm

I got thru most of “Surprise!” but then I had this vision:

Harpo is sitting next to the new Cons leader in the House. And that would be Chickaboom Ambrosia. (I concede Rona Ambrose is a highly intelligent, decidedly cultured person. And Ayn Rand afficionado.)

Chickaboom is askin’ a question of our beloved PM but suddenly Harpo thinks he can improve on the situation and whispers a phrasing suggestion to her.

So Chickaboom completely loses it and screams:
“IF AND WHEN I WANT YOU TO CHIME IN, TINKER BELL, I’ll PULL YOUR GODDAMN ROPE!” And jes stomps out.

Later, at the presser, when asked about this astonishing incident, she merely – shrugs.

HA HA HA HA HA

(I been watchin old Jean Harlow movies)

#118 john duffy on 11.10.15 at 10:45 pm

Correction should be
kevin annett itccs.org fraud

#119 BG on 11.10.15 at 10:53 pm

Really too many grumpy people with old folk thinking in the comments these days.

Complaining about the gov’.
About the PM’s hair.
Cursing the cons.
Rubbing their hands at a correction or financial hard times that should come – just because the Canadians spenders “deserve it”.

Some of you guys should spend more time having a walk in the park or watching a funny cats compilation video.
And try to remember that Canada is a great peaceful place, with mostly pleasant people.

#120 45north on 11.10.15 at 11:02 pm

The risk of a severe home price correction in B.C. and Ontario has risen to a medium probability event given the continued run-up in prices in Toronto and Vancouver,” says TD Economics. Yes, the same bank that makes mortgages, so you can imagine what the real story is.

medium is inserted to soften the message. probability and event are thrown in to make it abstract. The real story is there’s going be a severe price correction.

Bby604: from your link: B.C. home prices and sales will continue to rise for the next two years.

He didn’t say the rise in prices and sales in Vancouver will out weigh the necessary and inevitable drop elsewhere. Very clever these Chinese.

Mark: I guess the big question will be, will the government have the courage to tackle the problem of excess government spending, particularly on public servant compensation, head-on?

no

#121 Ferdinand Flyers on 11.10.15 at 11:04 pm

#108 Mark on 11.10.15 at 10:15 pm
“C series is almost certified, competitors can’t touch it.

Agreed. A few uninformed people in the media seem to think that Airbus and Boeing are ‘in competition’ with Bombardier. But their offerings are completely and utterly uncompetitive in the market segment targeted by Bombardier. …..”

Take off the blinders, the Japanese and Chinese are coming
http://finance.yahoo.com/news/mitsubishi-jet-1st-flight-step-005852451.html

#122 maxx on 11.10.15 at 11:08 pm

#6 omg the original on 11.09.15 at 7:14 pm

“THE MYTH OF THE QUICK AND DEEP CORRECTION”

“A 1% mortgages rate increase on a $600,000 mortgage results in a payment increase of about $320 per month.

A chunk of cash to be sure. But people will find a way to pay it – the supposed alternative being to lose their house and take a several hundred thousand dollar loss. How absurd.”

Really? So far this year, I’ve seen up to 30% drops and this will continue to spread like a nasty rash.

“All the people that I know who have bought big ticket houses over the past 5 years still;
– drive 2 late model cars
– have the newest cell phones on expensive contracts
– eat out several times a month
– have $180/m cable/internet packages
– go on expensive vacations.”

Yes, I know a few of those too, and they’re always bitching and moaning about lack of money. Excellent jobs, but their life goal is shopping.

“Lots of room to cut expenses for most people. And that’s not even making a withdrawal from Bank of Mom.”

Keep repeating that one – most BOMs are either mythical or tapped out.

“As I have said before houses in Canada will correct – but it will be a long, slow ride down.”

It’s already begun and this will still be a great show. Snow is not the only thing that melts in Canada. RE is now generally a horrid investment and anyone not having crystallized those amazing gains are for the most part, fried.

“We will need to see a 3-5% increase in mortgages before the market corrects in a meaningful way.”

Hear that sound? That is capital being sucked out of the economy. Lost quality jobs, greatly reduced benefits and little to no replacement. Mucho borrowing….up to now, but that is becoming a dry river bed for crappy credit.

“The way the world economy is going that won’t happen anytime in the next couple years.”

Wait for it. Canada is no longer a ranking member of the center of the universe club and many other economies will far surpass it in short order. The arrogance some Canadians have indulged in over the past few “Canada’s economy is on fire” years, pre oil crash, will slap them squarely in the face.
It’s way past time to hoard as much cash as you can lay your hands on.

“So learn to enjoy renting and keep investing the cash your saving.”

No need to learn. And we will. Complete freedom, landlord is sending a plumber for upgrades tomorrow, and yes, the pile just keeps on growing.

Lord help any of these freewheeling fools spraying their (former) future wealth around should they lose their jobs.

#123 Nora Lenderby on 11.10.15 at 11:12 pm

#78 Axxman on 11.10.15 at 8:52 pm
As a 1%er, my response to the Liberal plan is this – I’ve stopped tipping at restaurants and I’m considering stopping my $10,000 annual contribution to a charity. Justin says the wealthy need to step up and give to the less fortunate – guess what – living in Toronto with kids I don’t have buckets of cash, but I give generously…but when you legislate benevolence – that’s offensive. Most servers don’t claim tips on their returns so why would I double subsidize them?

So they don’t pee in your soup, silly. I guess you could go to a different restaurant every time, though…Hmm…You know, you might be on to something, but…your returns will be measly. Hardly worth the gas is it, Mr. Ford?

#124 Rowan Boiler on 11.10.15 at 11:15 pm

Sewage is about to flow into the St. Lawrence! Heavy flowing about to be released into the waterways. Approved by the Environment Minister. Apparently this happens in several other places in the world regularly. It’s time to invest in infrastructure!!

#125 Nora Lenderby on 11.10.15 at 11:17 pm

#36 TRT on 11.10.15 at 7:16 pm
My favourite Diwali Candy, Quality Street, shrinking in size over the years. Now 550 grams :( No inflation? Yeah right. Garth, are you part of ‘The Machine?’

That’s more than one pound in weight, laddie! Perhaps the candy isn’t getting lighter it’s you that are getting bigger :-)

I am trying to discipline myself to one Thornton’s Continental Assortment chocolate per night for the duration…we all have to tighten our belts…special delivery smuggled by a lady…

#126 Washed Up Lawyer on 11.10.15 at 11:22 pm

SWL 1976:

Keep the advice coming about the trades. The kid, 22 years old has started an apprenticeship twisting wrenches. I am proud that the son is rolling up his sleeves and getting his hands dirty. Canadian employers are not training employees. They import labour. Makes sense it is cheaper.

At least he is not pissing away the better part of a decade on a university campus like his Pop did.

If he needs a $3000 silk suit for his wedding, I will lend him one.

Best wishes,

WUL

#127 Nora Lenderby on 11.10.15 at 11:31 pm

#109 Washed Up Lawyer on 11.10.15 at 10:18 pm
Patches is doing OK in the traces but Prince has Navicular Syndrome. And maybe a slight case of Bog Spavin.

Oh dear, I do hope he can be helped. Weren’t you offering to trim hooves for me a while back? Do you mean to say you’re not doing it properly for your own babies? The farrier’s horses are the worst shod :-)

#128 tundra pete on 11.10.15 at 11:39 pm

The other day when I was downtown sitting at the bus stop,I watched an obviously down on their luck person swipe a candy bar from just inside the door of a convenience store. I noticed a perhaps employee, notice them. Within seconds, police were on the scene. This suspect seemed to really not care, but uttered, “seriously, over a candy bar?”

Now theft is theft I know but come on, someone who obviously needs this candy bar, was according to police, under arrest.

Meanwhile, back in Ottawa, oh nevermind.

#129 vb on 11.10.15 at 11:45 pm

#121

70 to 90 seats is not the competition.

Bomber will be fine if they could only lose the family control. They have no choice but to fix it, sell pieces. Its a risky but most of the risk is out now. good luck.

#130 AACI Home-Dog on 11.10.15 at 11:50 pm

#15 Nora Lenderby…
thanks so much for that link. I have always loved the song, but had not seen that video. Brings tears to the eyes, for sure. Not war, but still, “Lest we forget”…

#131 ben on 11.10.15 at 11:50 pm

Just to say I can concur: Montreal is over-valued and will drop.

That is all.

#132 Roasted Nutz on 11.10.15 at 11:55 pm

24 Freedom First on 11.10.15 at 6:51 pm

In my day we were just called “confirmed bachelors”.

—————-
In celebration of your newly declared freedom….break free dudette.

https://www.youtube.com/watch?v=eM8Ss28zjcE

#133 Prairieboy43 on 11.11.15 at 12:04 am

I miss the Rob Ford days. That guy had character. Free entertainment. Smoking Man Toronto Mayor!!

#134 SWL1976 on 11.11.15 at 12:06 am

#115 Washed Up Lawyer

Who doesn’t need a 3000$ silk suit?

It never crossed my mind until now, but I think you’re onto something.

Now we can envision you walking down Franklin ave narrating the flaws with the local real estate numbers in a silk suit no less.

As far as more about the trades for your son I would suggest that he not limit himself to the one easy job that everyone wants. I notice that here, the first monster corp I have been deeply involved with. You know where it is, not too far away. Anyways I see too many young apprentices here enjoying just doing the easy jobs, and sticking to only the ones they know. All is well when times are good, but when things get slow… bye bye.

I would also suggest getting some cross training and hands on in another trade that compliments the current trade. One really only needs 1 J-man ticket, but when things get slow these skills are key and they are also the ones who can command more money.

All and all I think its going to be a tuff road to hoe for the ones just coming up, but there’s always something to fix for those who know how

And one last thing. If your son ever has someone like myself offer him a kneeling pad for kneeling on concrete or grating tell him to take it and say thank you. I’ve worked with plenty of grizzled old men who can barely walk. One in particular who was about 55 at the time had 2 bad knees, he told me never to kneel on concrete or grating and it stuck. Now I pass on what I learned, but will only offer once, maybe twice, and after that they are on their own.

I am always amazed at the people who will listen and learn and by the ones who think they know it all

#135 Smoking Man on 11.11.15 at 12:13 am

#133 Prairieboy43 on 11.11.15 at 12:04 am
I miss the Rob Ford days. That guy had character. Free entertainment. Smoking Man Toronto Mayor!!

First thing I’d do, open a coal fired electric plant. Just for the hell of it.

#136 IKnow on 11.11.15 at 12:19 am

Some low-end Hong Kong urban flats are now selling in the high $3M HKD range, like $3.888M or $660k CAD for a spacious 3 br 450 sqft unit.
People there have not seen price that low in years.
Reason is sellers want out due to the impending US rate hike.
As YVR tracks Hong Kong more than anything else for fundamental reasons, so hope for “affordability again” is mildly possible after all.

#137 Washed Up Lawyer on 11.11.15 at 12:19 am

#127 Nora Lenderby on 11.10.15 at 11:31 pm

My back has given out on me. Yes, the shoemaker’s children go barefoot.

#138 Smoking Man on 11.11.15 at 12:20 am

#115 lee on 11.10.15 at 10:29 pm
Dear Smoking Man,

2000 a week? I actually think it’s a bit more. In any event, that is 100000 a year. That’s about 50000 a year in Toronto. That’s probably 13000 to 14000 households. That means we need 10000 new places for them to live since many immigrants live many years with family. Factor out people who leave GTA each year we need no more than 10000 new places a year for immigrants. That’s about 5 new condo complexes or subdivisions given many new houseowners rent their basement. Immigration is a drop in the bucket in a city selling 120000 units a year right now. I think they should call you drinking man.
….

They do, but I’m not wrong that often. Go figure..
Talk to me in the spring…

#139 Smoking Man on 11.11.15 at 12:29 am

Watching the Russian doping accusations unfold has me laughing my ass off.

Oh Man this is what it’s come down too.

Not one bankster arrested for the financial crisis..

Putin kicking the machine in the face everyday in the middle east. And this is pay back.was they come up with.

Bahahaha

#140 Ontario's Left Coast on 11.11.15 at 12:35 am

Femdom Fist – Any idiot can do it. I know.

I’m a writer so I have to ask… Are you aware that every time you say this (hint: every day), you are basically calling yourself an idiot? Just thought I’d mention it.

I also applaud your decision to come out on today’s blog. To thine own self be true.

#141 Cici on 11.11.15 at 12:54 am

Here’s a fun Toronto listing that went under asking:

Tragically Hip Rocker Gord Downie Sells Toronto House For Well Below Original Asking Price

The house, located in a leafy corner of Riverdale, had been initially listed at $2,495,000, before being relisted at $2,249,000, and according to one real estate blog, it sold for $2,230,000.

Guess buyers decided not to blow at high dough.

Check it out, I’m usually not house horny, but this one is darling!

http://www.huffingtonpost.ca/2015/11/07/gord-downie-house-toronto_n_8494410.html?ref=yfp

#142 Disgusted on 11.11.15 at 12:57 am

Really? Did you really feel the need to include a photo of Cpl Nathan Cirillo’s dogs in a post that has nothing to do with them or their deceased master. Why? So that more people would click on the page? Disgusting

Because it is Remembrance Day, I wanted to mark the occasion and do so in a way consistent with the canine theme of this blog. I could have ignored it, but chose not to. I’ll also be standing at a ceremony today at 11 am, as I do every year. As for using a picture to engender page clicks, I actually don’t know how that works. Maybe you can assist, Heather, since you seem to have some time available. — Garth

#143 saskatoon on 11.11.15 at 1:00 am

#128 tundra pete

obviously, you offered to pay the store owner for this stolen candy bar–since you felt the person so obviously needed it?

obviously.

#144 kommykim on 11.11.15 at 1:05 am

RE:

#128 tundra pete on 11.10.15 at 11:39 pm
Now theft is theft I know but come on, someone who obviously needs this candy bar, was according to police, under arrest.

Well, at least he got a room and a bed for the night.

#145 Victoria Real Estate Update on 11.11.15 at 1:06 am

# 56 Rexx Rock

Perhaps you haven’t seen this information. I posted it recently.

SINGLE FAMILY HOME SALES

Total Single Family Home Sales
. . January through October. . .
. . . . . Greater Victoria. . . . . .
. . . . . . . . . . . . . . . . . . . . . .
2007…*****************
2015…**
————————————————
. . . . . . -5%. . . . . . . . . . 0%

(source: Victoria’s R/E board)

2015 has been a below average year for SFH sales in Greater Victoria (2007 was an average year).

SFH sales are behind 2007’s pace by 5.4%.

Let’s put 2015’s SFH sales total into proper perspective. To do that it will be necessary to consider the following important factors (that realtors rarely talk about):

1. INTEREST RATES

In October 2007, 5-year fixed mortgage rates were at 5.88% (second chart).

In October 2015, 5-year fixed rates were less than half of that, at 2.37%.

Realtors fear rising rates because they know that, in general, sales decrease and house prices fall as interest rates rise.

The opposite is also true – sales increase and prices rise as rates fall.

Looking at the above chart, it’s clear that 2015’s sales total should be much higher than 2007’s if we take interest rates into account.

How much higher should SFH sales be this year (compared to 2007) with today‘s highly stimulative rates? 30% higher? 40% higher? 50% higher?

It’s obvious that SFH sales have been extremely weak and disappointing so far in 2015.

2. POPULATION GROWTH IN GREATER VICTORIA SINCE 2007

This one is simple – more people (than in 2007) and more houses (than in 2007) should result in more SFH sales (than in 2007).

However, this is not the case.

If we take both of these factors (much lower interest rates and population growth) into account, it exposes just how weak SFH sales have been so far this year in Greater Victoria.

#146 Moses71 on 11.11.15 at 1:13 am

Axxman
Punish the waiter who works for <minimum wage?
Ever heard of York in yr food? In yr coffee cup?
Do it to yr wife and clones, too
Misdirected anger there, eh?
So sorry to hear that is the best you got to control yr situation
Guess you can't make a silk purse from a sow's ear

#147 Moses71 on 11.11.15 at 1:14 am

Hork-auto correct

#148 Bottoms_Up on 11.11.15 at 1:19 am

#78 Axxman on 11.10.15 at 8:52 pm
—————————-
If you can afford to go out to eat, you can afford to tip well. Do so. Be thankful you’re not in the other set of shoes.

And be thankful you have things known as capital gains, which are taxed at about the rate of someone that has a yearly income of $45k.

#149 Great Canadian Bubble Co. on 11.11.15 at 2:08 am

My fingers are getting sore from updating all of the housing-related stories today. Clearly momentum is building on this. Sentiment has a funny way of influencing markets. You should do a post on that Garth.

#150 Bottoms_Up on 11.11.15 at 2:20 am

#122 maxx on 11.10.15 at 11:08 pm
———————————
We are not going back to 2006 prices, and I think it’s safe to say we’re not going back to 2009 prices. 2012 prices, perhaps….but I think that would take significant job loss or sharply increasing interest rates.

#151 palebird on 11.11.15 at 2:21 am

#113:
Re/“….Calgary, of course, resembles an impending trainwreck. Actually a local office-leasing specialist calls it “a bloodbath.” “We’re at the highest point of fear and uncertainty now,” he says……..”
_________________________

Having lived, myself, through the 80’s Calgary trainwreck, they are nowhere near the ‘highest point of fear and uncertainty’ today.
——————————————————————
I also remember that massive recession in the early 80’s. I don’t ever want to see that again but, the way things are going, it is maybe possible. Yikes! So many younger people buried in their phones have no clue how bad things can get.

Yep I was there. Was in TO also around the same time. This is going to be entertaining. And Trudeau the second is going for broke. Oh man you can’t make this stuff up. Fasttrack how many refugee’s? If little Trudeau makes it through his first term the Liberal party will be a smoking ruin. The country will survive, maybe a little bit humbler and worse for wear and tear.. Harper is very clever..

#152 Bottoms_Up on 11.11.15 at 2:28 am

#105 Terrence Bumbleford on 11.10.15 at 10:05 pm
——————————
You are cheapskate. Do everyone a favour and never visit a restaurant again.

People that work as servers may be putting themselves through school, or trying to raise a child…they are paid less than minimum wage and you are advocating to not tip??? Get a life my friend!

#153 Bottoms_Up on 11.11.15 at 2:34 am

#113 CalgaryCarGuy on 11.10.15 at 10:29 pm
———————————
The debt thing is interesting right? I’m with SM on this one. My bank makes way more money off me ensuring that rates are kept low and I’m a good consumer over the next 20 years, rather than pulling the plug, selling my house at a loss (yes they will get a bit back from me on the difference) and making me reset via bankruptcy…they are playing the long game this time….variable rate will still low for a long long time.

#154 Supply/Demand YVR & 416...maybe for now? on 11.11.15 at 2:40 am

#102 Smoking Man

Your theory is correct as long as there are jobs to attract the supply of new arrivals and they can reasonably predict the economy will continue to grow in the near future (i.e., they will not lose their jobs any time soon or they can find new jobs easily if they lose them).

JOBS
Right now you have a weak Labour Force Survey (Oct. 2015 Report: BC/AB up, ON down; 0.1% growth for the month) and a dismal Payroll Report (Oct. 2015 Report: BC/ON July to August, both negative = job losses & BC/ON Average Weekly Earnings went negative from the prior month, wage losses and not gains).

ECONOMY/NEAR FUTURE
I quote today’s Zen post: “a sucky economy which will grow 50% less than forecast”.

You may be correct in the end, I do not know, but the facts show that if recent trends continue, the supply will dwindle in 416 and YVR.

Not many will move to cities where there are job losses and wages are decreasing.

#155 joberlyns on 11.11.15 at 2:44 am

Interesting article on

http://www.ft.com/

“British pin retirement hopes on property over pensions”

Wonder if Canuckistan is copying this model?

#156 joberlyns on 11.11.15 at 2:47 am

#123 Nora Lenderby on 11.10.15 at 11:12 pm

So they don’t pee in your soup, silly.…”

That is actually a serious crime…could be considered assault….

#157 The Demographic Bubble on 11.11.15 at 3:11 am

For a long time now (for a lot of years – a no brainer, you need only look at the Financial Post’s Canadian age demographic curve from even 20 years ago) I have been telling my Boomer friends to downsize much sooner than later as there will be fewer young people with good paying jobs to purchase their large homes (i.e., with a limited supply of buyers, be first in to sell to them).

Finally, someone has begun to talk about this:

http://www.cbc.ca/news/business/canada-s-housing-market-faces-a-looming-demographic-bubble-1.3310637

Boomers with a single asset strategy (RE) will want to liquidate to provide themselves with cash to enjoy their retirement and live in more manageable/less expensive digs. Well, it looks like few well be able to do so and with a lot less money than they thought they would get.

So, not only may we be headed for RE price drops but the Demographic Bubble will only exacerbate prices over the long term if there is a RE price correction.

#158 Freedom First on 11.11.15 at 3:19 am

#95 Johnathan

You are a liar.

I have made it clear on this Blog I love women and have shared parts of my recent relationships with them. Shame on you, you lying Dickhead. Probably had your wife make you write that too. eh, Mr. Mangina.

#159 Freedom First on 11.11.15 at 3:24 am

#98 For those about to flop

I am happy for you. Sincerely.

However, for me, there is also such a thing as too much of a good thing. Plus, too high risk for me.

Plus the fact I prefer younger women.

#160 Freedom First on 11.11.15 at 3:34 am

#102 Smoking Man

Yes. You’ve been right with your RE spring forecast every year I have been on this Blog. I wouldn’t bet against you.
I am fan #53. That being said, I am sure the usual Dickheads are going to accuse me of being an a$$kisser again. They have not even clued into the fact that you are a figment of your imagination. What’s not to like?

#161 Washed Up Lawyer on 11.11.15 at 5:54 am

#134 SWL1976 on 11.11.15 at 12:06 am

Noted. Thanks.

Next time I am on the Island, we will meet and I will spring for the brewskis. I will spin a long tale about how I caught a Tyee. Near Tahsis, Gold River and Cougar Creek. (Nootka Sound).

Delicious.

#162 Ken Lovegrove on 11.11.15 at 6:02 am

The other gift that Harper left the new government is the obscene dump of over 1 billion litres of raw sewage in the St Lawrence from Montreal.

I thought you Canadians were meant to be all economic friendly types?

#163 Ken Lovegrove on 11.11.15 at 6:03 am

Sorry meant environmentally friendly types.

#164 Ontario's Left Coast on 11.11.15 at 7:48 am

#157 Freedom First on 11.11.15 at 3:19 am
#95 Johnathan

You are a liar. I have made it clear on this Blog I love women…

Methinks thou dost protest too much. The first step to true happiness is accepting who you are.

#165 Angus on 11.11.15 at 8:07 am

124. Rowan Boiler
Sewage is about to flow into the St. Lawrence! Heavy flowing about to be released into the waterways. Approved by the Environment Minister. Apparently this happens in several other places in the world regularly. It’s time to invest in infrastructure!!

Wow, an interesting Christmas dinner for Alantic Canada lobsters is heading into the Gulf of St. Lawrence Estuary, the largest estuary on the planet. Great job Canada!

#166 ANON on 11.11.15 at 8:34 am

I thought you Canadians were meant to be all environmentally friendly types?

I wouldn’t lose too much sleep over that, we’re about to become very environmentally friendly when this bubble bursts. BigD has a habit of handing over green certifications by the truckload.

#167 pbrasseur on 11.11.15 at 8:45 am

«…gender-challenged Finance Minister Bill Morneau…» -Garth

Very funny, please don’t stop writing Garth, ever!

#168 Madeline on 11.11.15 at 9:01 am

#157 Freedom First

I think you misunderstand and are being quite harsh to that earlier poster. He was nothing but gracious to you and your personal destiny as a gay man and desire to express yourself honestly to this blog.

Yours is a struggle I know well. I have a gay nephew who was only able to come out fully knowing he was accepted and respected by family and close friends. It really makes all the difference. I would encourage you to continue being open with those on blogs like this if you feel comfortable, but more importantly make some of those honest connections with family and friends close to you. It will really make a difference. Best wishes to you.

#169 Millmech on 11.11.15 at 9:25 am

#126
I agree with the SWL1976,get two trades,I did and am working on the power engineering end,on my own time,picked up vibration analysis,tribology,root cause failure analysis.The good employed tradesmen never stop learning and upgrading their skills and if an apprentice wants to learn we want to pass on our knowledge,tricks and tips.The mat advice is dead on,I get the usual jokes about wearing my Kuny kneepads but after 30yrs my knees are fine other guys knees shot.

#170 BillyBob on 11.11.15 at 9:26 am

Carly in Cabbagetown on 11.10.15 at 7:41 pm
Sorry, Garth, I just can’t let this one go past.

You referred to “…newly-minted but gender-challenged Finance Minister Bill Morneau…”.

I read that as being “challenged”, (unfairly of course – it’s implicit in the language), because he is part of a cabinet that explicitly chose to limit males to 50% of the personnel. (Rather than the 49.5% males comprise of the total population?)

So men are at a disadvantage, and an unfair one in your eyes, because of this, therefore “challenged”.

Did I get that right? Was it a typo?

This sounds sadly consistent with a blog that too frequently contains misogynistic commentary and has about a 90% male readership.

But is it consistent with your real values, Garth?

Care for an edit?

We all make mistakes, and it appears you have made one here, a particularly offensive one.

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

It’s a bit sad, but indicative of the times we live in, when one has to actually TRY so hard to find something to be offended by. What a pathetic way to live, trying to coast on whatever demographic you happen to have been born into.

But Mr. Turner’s “gender-challenged” adjective was factually correct. (Not that most ideologues get too acquainted with facts, but whatever, gotta try.)

Justin Trudeau likes to trumpet the fact that his cabinet has gender parity. False. The Liberal caucus counts 134 men and 50 women, meaning that at the outset, every female MP had roughly three chances more than her male colleagues to be appointed to cabinet.

So, back at you, Carly. As a male, I am OUTRAGED at the rank misandy displayed by such blatant discrimination agains men! Care to reconsider your position?

(See what I did there? And yes, it sounds just as stupid when you say it with the genders reversed.)

*Source Article, quoted in part*
http://www.theglobeandmail.com/globe-debate/trudeaus-diverse-cabinet-not-a-true-canadian-portrait/article27200206/

#171 maxx on 11.11.15 at 9:29 am

#18 Mark on 11.10.15 at 6:39 pm

You know the answer.

At the moment, I feel the most empathy towards Ontarians and that will only continue to increase.
However, you get what you vote for.

#172 TurnerNation on 11.11.15 at 9:29 am

I bet Carly is dialing the Barbaric Cultural Practices tip line over FF. A view against what’s taught in university. Oh, my.

…….
I wonder if rock star PM will mention,
“China’s human rights record”
Or “Middle east peace process”.
Remember those memes which so well served as distractions?

Get ready. ..for a slew of new global laws and beliefs and slave taxes/fines this year.

Ontario pension fees? Getting closer to 100% of our money. All moved off shore. Witness your crumbling schools, roads, military.

#173 james on 11.11.15 at 9:34 am

To Smoking Realtor – on GTA growth of 2000 weekly

You neglect to mention that there are already about half that number dying in the GTA weekly. The death numbers have also increased by 2-3% each of the last few years and that will accelerate with the boomer cohort entering their dying years en masse. Immigration remains pretty flat and will not increase much, if at all, since the economy already has too few jobs. Immigrants who do arrive can barely afford homes at 1997 prices, let alone today’s bubble.

Plus, there are hundreds leaving the GTA weekly, which also will likely increase. Check out the violence and social disruption in large parts of the 905 and some 416 pocket areas and you’ll understand why this is happening.

Net/net, it’s a demographic wash right now. Not likely at all to push prices higher. Much worse, there is really no structural force that can stop a truly catastrophic bubble collapse.

You are part of the schooled herd, schooled by realtors to think things will only go up.

Smoking Realtor, try thinking for yourself for once, not the way your realtor and internet nutbar sites tell you to. So schooled.

#174 BillyBob on 11.11.15 at 9:37 am

Hey Freedom First, don’t let the you-know-whats like Madeline and her faux sympathy get you down. It’s pretty obvious you’re not gay, they’re just trying to provoke you into making remarks that will sound at best, defensive and and worst, homophobic.

Classic internet trolls. Don’t rise to the bait.

Personally I enjoy the fact that your independence bothers some of the posters here. But pretending to infer that your living without a female partner is “coming out” is actually pretty hateful, not to mention insulting to people who really HAVE struggled with persecution for their sexuality.

#175 maxx on 11.11.15 at 9:39 am

#38 Fuzzy Camel on 11.10.15 at 7:18 pm

“What ever happened to hard work, saving, living within your means, and only using debt for productive purposes?”

Haven’t you heard? That’s considered fringe now. ;-)

#176 james on 11.11.15 at 9:45 am

Smoking Realtor – I forgot to mention as well, hundreds of GTA residents weekly are leaving their homes and going into retirement and nursing facilities. Plus many (don’t have numbers on these yet) are turning to shared housing arrangements with family or friends.

The net result is even more so as I described – no significant upward pressure on real estate looking ahead in the GTA.

(And did I mention the Bank of Mom and Dad is tapped out, and that so many will be forced to sell very soon to buy thirsty underwear? )

#177 Bat Flipper on 11.11.15 at 9:48 am

Banks are reporting significant slowing in growth, so to keep those dividends growing and earnings going up, the only other thing they can do is cutbacks. Consumers are overextended, so they can’t borrow anymore. They are tapped out.

They are turning to digital means in order to replace the traditional branch. Soon, you will be able to get any bank service without talking to anyone by filling in online forms. Big earners at the bank will soon be looking for work because it will all become automated by robots. The stock market is quickly becoming who has the better robot wins with bots doing all the trading in hyper speed.

So why is real estate rising if we aren’t making more money? Canadians feel that the best place to invest is in real estate, and they have no problem leveraging themselves to as high as 20 to 50 times what they are investing. Ask anyone to do the same thing in the stock market and they will call you crazy.

Now with the TPP, rising rates, negative trade exports, fall in oil price, low to negative growth, and the fall in the Canadian dollar, I can’t see how a decline isn’t highly likely.

#178 pbrasseur on 11.11.15 at 9:49 am

« But is it consistent with your real values, Garth?» #47 Carly in Cabbagetown

Get over it Carly, it’s just humor which refers to Justin Trudeau’s will to introduce more women into the cabinet. At worse Garth is poking fun at political correctness which you’ll have to admit is alive and well among this new bunch.

But seriously, objectively if you’re a man in Justin’s caucus you have less chances to make it into his cabinet, that’s just an undeniable fact. There’s nothing offensive about stating a fact or is there?

#179 yorel on 11.11.15 at 9:55 am

“It’s worse than we thought”.
Every new leader’s news release.

#180 Bytor the Snow Dog on 11.11.15 at 9:56 am

To Ontario’s Left Coast and all of his/her various sockpuppets touting the FF is gay line.

Grow up. What is this, high school?

To Carly: What BillyBob said.

Give the best person the job. Period. No artificial constraints. I don’t care if that person is male, female, or any of the other assorted genders that some people claim exist these days.

#181 maxx on 11.11.15 at 10:02 am

#58 SWL1976 on 11.10.15 at 8:03 pm

“Giving away our resources for next to nothing and taxing the population into the poor house is the Canadian way”

Agreed.
Rip, ship and strip the hide off of their backs through taxation….

#182 fixie guy on 11.11.15 at 10:04 am

“…which means all of the Liberal mandate will be one of red ink. ”

The new government hasn’t made any statements yet about the Conservative neutron bomb buried in the CMHC. The fun really begins when those guarantees start getting called by the same banks Harper used the CMHC to enrich over his two terms. Economic miracle my a$$.
Screw Canadians going in, screw them coming out. Harper owns this through and through.

#183 Patrick on 11.11.15 at 10:04 am

#104 Debts and debts on 11.10.15 at 9:59 pm

The US went into unprecedented debt after 2008.
Now they are supposedly the poster boy of the good economy.
______________________________________

Best of a bad lot, I’d say. We’ll find out once the fed starts raising rates. Till then, comment stands.

#184 Alioo on 11.11.15 at 10:15 am

#24

Getting real sick of seeing misogynistic shit in the comment sections when I’m trying to get more info about a post. Real sick.

#185 Patrick on 11.11.15 at 10:17 am

#157 The Demographic Bubble on 11.11.15 at 3:11 am
I have been telling my Boomer friends to downsize much sooner than later as there will be fewer young people with good paying jobs to purchase their large homes
________________________________________

About 15 years ago they started doing the McMansion thing just outside my town. These houses are absolutely massive. Mostly owned by boomers. I can’t imagine too many seniors wanting to live in a place that big. How do you take care of it? I can’t even imagine what the utilities and maintenance costs are like with those places. Probably not good on a fixed income.

There’s actually a new development of more McMansions right now. Just west of us. Broken ground but that’s about it. I wonder what they are waiting for.

#186 TurnerNation on 11.11.15 at 10:23 am

Western chain Cactus Club opened a huge 2 story location in Toronto’s FCP. Same nonsense: $18 burger and fries, 8-9$ pint of beer.
Richer than we think.

I guess QSR.TO parent of Burger Thing and Grim Hortons is the way to go. And Cara’s stock. Other dreck.

#187 Smarten up Mark on 11.11.15 at 10:35 am

#29 Mark

As indicated countless blogs ago, I was thankful for the blog allowing bolding. This way, I can quickly identify Mark’s posts and skip them.

However, for some reason, I read #29. See if you can show a bit of respect for all, especially those that bring so much more to the table than you, i.e. all.

#188 dontcallmeshirley on 11.11.15 at 10:36 am

Bill Morneau innovator or custodian?

A guy who stepped into dad’s business, an HR outsourcer, doesn’t immediately impress as an innovator who will make “smart, strategic” investments.

The way Morneau-Shepell beats out Hewitt Associates for engagements won’t work in gov’t. Or will it?

Why is this guy even a Liberal?

#189 jess on 11.11.15 at 10:37 am

“State officials allowed oil and gas companies to pump nearly three billion gallons of waste water into underground aquifers that could have been used for drinking water or irrigation,” the NBC Bay Area report starts out. “Those aquifers are supposed to be off-limits to that kind of activity, protected by the EPA.”
Waste Water from Oil Fracking Injected into Clean Aquifers
California Dept. of Conservation Deputy Director admits that errors were made
By Stephen Stock, Liza Meak, Mark Villarreal and Scott Pham
http://www.nbcbayarea.com/investigations/Waste-Water-from-Oil-Fracking-Injected-into-Clean-Aquifers-282733051.html

#190 SWL1976 on 11.11.15 at 10:39 am

#161 Washed Up

Next time I am on the Island, we will meet and I will spring for the brewskis. I will spin a long tale about how I caught a Tyee. Near Tahsis, Gold River and Cougar Creek. (Nootka Sound).

Delicious.

——————————–

Sounds good. I enjoy tall tales of yesteryear almost as much as I do a finely crafted beer.

Fortunately the west coast is home to some great local breweries

Bring the suit and I will sport my nicest pair of flame resistant coveralls

#191 Daisy Mae on 11.11.15 at 10:39 am

#13: “A one-asset strategy”. Why berate the unwashed masses? They were only emulating the economic strategy of King Harpo the Hated.”

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

Good point. Harper, the so-called economist, was striving for a 72% home ownership.

#192 maxx on 11.11.15 at 10:43 am

#67 BC Guy on 11.10.15 at 8:24 pm

“I’ve lived through many of these recessions before: 1974, 1983, 1990, 2000, 2008. There seems to be an 8 to 10 year cycle of boom and bust in this country. Get ready for the bust.

R+D…..”

R+D………wow, remember that? Speaks to national optimism……….and we’re long past that creative mindset.
R+D is one of the lowest fiscal priorities now. FIRE needs the money for…………….oh yes, screwing up the economy further.

No, today, we’re shoveling the public purse mostly towards useless make-work mega-projects at a hell of a rate of knots and keep chopping away at health care. That way, we can keep propping up bloated, increasingly ineffective and highly damaging FIRE industries.

Canada is making a spectacle of itself.

#193 jess on 11.11.15 at 10:44 am

lookback

By NELSON D. SCHWARTZ
Published: September 2, 2007

Maple Heights, Ohio
http://www.nytimes.com/2007/09/02/business/yourmoney/02village.html?pagewanted=all&_r=0
“Some people on the street couldn’t pay, so they just left. The competition to sell is just ridiculous.”
==================
http://beltmag.com/foreclosure-personal-history/

…”in the 1980s, Ohio’s leaders thought maybe financial and business service jobs would replace the manufacturing jobs. Some parts of the banking industry flourished here. In 2002, Policy Matters Ohio, the think tank I now work for, found that subprime lending had exploded in Ohio in the ‘90s, growing from $20 to $150 billion between 1993 and 1998. Ohio had become a national leader in subprime refinancing loan activity. We noted that Ohio’s efforts against predatory lending fell short—considerably short—of regulations of other states.”

“Foreclosure filings with the Ohio Supreme Court have risen 155 percent since 1994, while sheriff sales (final auctions of a foreclosed homes) increased 200 percent across Ohio between 1994-96 and 2001. This accelerated home loss coincides with the subprime lending industry’s explosive growth in Ohio, and increased predatory lending. A 2002 report by Policy Matters Ohio, along with a report from the Ohio Community Reinvestment Project, document the startling effect predatory loans are having on Ohio communities. Policy Matters gathered sheriff sale and foreclosure filing numbers from all Ohio counties from 1994-2001, while the OCRP linked increasing numbers of foreclosures in Lorain, Montgomery and Summit counties since 1997 to subprime loans.

• Overall in Ohio, foreclosure filings increased 155 percent between 1994 and 2001, and 23 percent between 2000 and 2001.
• Actual sheriff sales of foreclosed properties increased by 200 percent between the pooled years 1994-96 and 2001 in Ohio, and 17percent between 2000 and 2001 alone.
• More than 43,000 foreclosure cases were filed in the year 2001.
• More than 24,000 Ohio families lost their homes to sheriff sales in the year 2001.
• One out of every 520 Ohio households lost its home to a sheriff sale in the year 1995. By 2001, one out of every 181 households its home to a sheriff sale.
• Though Ohio’s eight metropolitan counties continue to generate over half the state’s sheriff rural counties emerged with the highest percentage increases in sheriff sales between 1994-2001, indicating that the problem is spreading past urban centers.

#194 Broke Dick on 11.11.15 at 10:45 am

#24 Freedom First on 11.10.15 at 6:51 pm
Gender challenged FM Bill Money :-)

Yes. No wonder so many men world wide have left the building. The anti-male socialist building of entitlement. No lobbying, no complaining, no debating, no fighting, no arguing. Men are now making their own new rules to live by. In my day we were just called “confirmed bachelors”.

Polite euphemism for a gay man (from Victorian times, on the premise that such a man will never marry.)
http://www.urbandictionary.com/define.php?term=confirmed+bachelor

#195 Sam the Sham on 11.11.15 at 10:45 am

#47 Carly in Cabbagetown

“…a blog that too frequently contains misogynistic commentary…”

I’m certainly glad to see that this blog is effectively petrolled by the Politically Correct speech and thought police. Garth’s comment was obviously a micro-aggression and you are probably replying from your “safe space”. I hope this hasn’t been too traumatic for you!

#196 JimH on 11.11.15 at 10:47 am

#4 Mandria on 11.10.15 at 6:09 pm
“Anyone else thinking buying opportunity for Bombardier at the $1.45 it’s sitting at now?”
===================================
Bombardier is drowning in debt. The C-series is unproven and has to date only secured some 243 firm orders. Bombardier’s management years ago stated 300+ orders would ensure profitability; the queue of buyers is non-existent.

The C-series was supposed to be in the skies back in 2013. Delays and huge cost overruns have plagued the project and put Bombardier’s future at risk. It would appear that this company has fallen into the Canadian trap of putting all its eggs into one basket.

Funny how some “aviation industry experts” here on the blog seem to think the C-series will somehow save Bombardier even as the company is struggling to find international investors willing to take that risk. There are no takers, and now the Government of Quebec is asking for a bailout from the Canadian Government. Why? Because there is nowhere else to go.

Bombardier has relied on its Transportation (rail) division to keep the company afloat. Sell it off and export more Canadian jobs to China? Doubtful.

Meanwhile, Bombardier’s regional jet position is threatened by Brazilian, Chinese and Japanese competition that has the company in the crosshairs.

Bombardier’s management has done a terrible job. The company is drowning in debt. The current share price (under $1.50) from all-time highs $26 and recent highs over $5 reflects just how badly this company has fallen, and just how badly broken it is.

Mandria, understand that investing in broken companies is purely speculative; gambling, in other words.

You can go out and buy a donkey at a much better price than the cost of a thoroughbred. Would you run out and do so with high hopes that it just might one day win the Kentucky Derby?

#197 crowdedelevatorfartz on 11.11.15 at 10:52 am

@381 GAV
“Oh yeah, the last time the Libs got in. Because they have a proven finacial record…..”
+++++++++++++++++++++++++++++++++++
Ahhh yes and the Mulroney govt was soooo much better.
Turned a deficit of 80 billion into 500 billion. The Cretien/ Martin govt actually REDUCED the national debt from 600 Billion( Mulroneys debt plus interest… Remember the Debt Clock?) to 475 Billion.

The Harper govt tossed bags of money around almost as extravagently as Mulroney. Its seems to be a conservative strategy that works. Tell the sheeple the budget is balanced while the numbers say otherwise….

But you dont bother yourself with real, quantifiable facts ’cause uninformed, baseless, biased arguements dont need facts to ruin your myopic view of the world do they GAV……

https://www.google.ca/url?sa=t&rct=j&q=&esrc=s&frm=1&source=web&cd=1&cad=rja&uact=8&ved=0CBsQFjAAahUKEwjN_JvDzojJAhUPKYgKHX41ALQ&url=https%3A%2F%2Fwww.taxpayer.com%2Fmedia%2FCoverStory24-27WEB.pdf&usg=AFQjCNFYTsO_R0WYCGW_HyIIZ3YpBN55mQ&sig2=aewijWmB_ciRXpKsyQAL6w&bvm=bv.106923889,d.cGU

http://www.google.ca/url?sa=t&rct=j&q=&esrc=s&frm=1&source=web&cd=6&cad=rja&uact=8&ved=0CDoQFjAFahUKEwjN_JvDzojJAhUPKYgKHX41ALQ&url=http%3A%2F%2Fviableopposition.blogspot.com%2F2012%2F03%2Fcanadas-debt-and-deficit-history.html&usg=AFQjCNE5D4MwZPJZjlGxlwZ-2Gd8Xv6dRw&sig2=wWyYe4vZOYJGBclxGZMDxw&bvm=bv.106923889,d.cGU

GAV….if you get a headache reading these two links ….its probably due to your brain absorbing factual knowledge…..

#198 Broke Dick on 11.11.15 at 10:53 am

#74 common sense on 11.10.15 at 8:40 pm
And am still amazed at people 50 plus living in Toronto houses who haven’t sold their paid off valued million dollar bungalows and moved to the Niagara Penninsula to homes priced under 275K.

Soon baby soon!!

#199 Herb on 11.11.15 at 10:57 am

Two conflicting thoughts for Remembrance Day –

If any question why we died,
Tell them, because our fathers lied.
(Rudyard Kipling, “Common Form”)

If the Good Lord doesn’t save soldiers, all soldiers, just because they’re soldiers, there is no point in trying. (Georges Bernanos, “The Diary of a Country Priest.”)

#200 jess on 11.11.15 at 11:00 am

Tuesday, November 10, 2015
Attorney General and Manhattan U.S. Attorney Announce Charges Stemming from Massive Network Intrusions at U.S. Financial Institutions, U.S. Brokerage Firms, Major News Publications and Other Companies

Breaches Included the Largest Theft of Customer Data from a U.S. Financial Institution in History

Defendants Hacked in Furtherance of Securities Market Manipulation Schemes, and Vast Gambling and Payment Processing Schemes

http://online.wsj.com/public/resources/documents/2015_1110_shalon.pdf

Shalon, Aaron, Orenstein and their co-conspirators operated their criminal schemes, and laundered their criminal proceeds, through at least 75 shell companies and bank and brokerage accounts around the world.
The defendants controlled these companies and accounts using aliases, and by fraudulently using approximately 200 purported identification documents, including over 30 false passports that purported to be issued by the United States and at least 16 other countries.

http://www.justice.gov/opa/pr/attorney-general-and-manhattan-us-attorney-announce-charges-stemming-massive-network

#201 crowdedelevatorfartz on 11.11.15 at 11:04 am

@#128 tundra pete
“an obviously down on their luck person swipe a candy bar from just inside the door of a convenience store. I noticed a perhaps employee, notice them. Within seconds, police were on the scene. ”
+++++++++++++++++++++++++++++++++++

It couldnt have happened in Vancouver. Minimum 30 minute response time for crappy little crimes such as that.
The police cant be bothered to brush the Tim Hortons sugar dust from their laps to respond to much more serious crimes than that….and if they did.. then they would all congregate enmass to the same call(safety in numbers ya know) and argue over “who gets the collar( 4hrs of easy paperwork)” for a minor misdemeanor infraction….Lotus land….

#202 Bottoms_Up on 11.11.15 at 11:06 am

#173 james on 11.11.15 at 9:34 am
—————————-
Au contraire, you forget to factor in birthrate, which is higher than the death rate.

#203 crowdedelevatorfartz on 11.11.15 at 11:10 am

@#139 Smokey
“Watching the Russian doping accusations unfold has me laughing my ass off.

Oh Man this is what it’s come down too.

Not one bankster arrested for the financial crisis..”
++++++++++++++++++++++++++++++++++

Meanwhile in Russia, Putins 30 year old daughter is reputed to be “worth” 2 billion dollars….. All while “daddy” still insists his net worth is a pittance based on his $120k a year politicians salary……

http://www.reuters.com/investigates/special-report/russia-capitalism-daughters/

#204 Marco Polo on 11.11.15 at 11:12 am

Garth,

Thanks for using the photo of Cirillo’s dogs and keeping to your canine theme. Other posters would like us to apologize for being Canadian, to send sorry cards to ISIS, rather than aircraft raids. It was an ISIS sympathizer who murdered Cirillo, and let’s keep Cirillo’s memory alive, and leave the lefties to their new causes du jour

#205 Marco Polo on 11.11.15 at 11:17 am

It will be embarrassing to see any television footage from our new PM today, his father’s war record had lots of dodging, and he kept both feet out of the war. He was a reluctant Canadian, unlike most others at the time.

#206 Arfmooocat on 11.11.15 at 11:31 am

Don’t buy a f—— house. It depends on where you live, but nowadays it often makes a lot more sense to rent than buy. It goes back to values: Are you at a stage in your life when you’re really going to enjoy being a homeowner vs. having that idea implanted as something you want by an older generation

http://finance.yahoo.com/news/five-biggest-myths-saving-money-130013914.html

#207 Holy Crap Wheres The Tylenol on 11.11.15 at 11:44 am

This is the first Remembrance Day I have spent outside of Canada in many years. Here in the Bahamas people tend to have the service on Sunday at the churches. Surprised at the number of people who do wear poppy’s here. Truly a solemn day to remember the sacrifices. We can make money, we can loose money, we can do many things but we can’t bring back those whose lives were cut short in the service of their countries.
Just remember to give your two minutes of silence at 11:00.

#208 CTV NEWS LOL on 11.11.15 at 11:49 am

Its Remembrance day and what do they put on the FRONT PAGE??? RECORD BREAKING GTA HOME SALES IN OCTOBER!!!

LOLOLOLOL

http://toronto.ctvnews.ca/

#209 crowdedelevatorfartz on 11.11.15 at 11:52 am

@#45 Squirrel meat, #95 Johnathan, #132 Roasted Nutz, #140 &164 Ontario’s Left Coast, #168 Madeline

amazing….ALL of you have reverted to schoolyard name baiting tactics to vilify Freedom Firsts “message”.

Debating at its lowest form.
Attack the messenger , not the message.
While I disagree with some of what Freedom First has said I think insinuating he’s “gay” is possibly the laziest rebuttal (pun intended) possible.
But then again I expect nothing more from slack jawed, drooling typists giggling over their keyboards as they pound out thinly veiled, politically incorrect insults that even a child of 10 would know are wrong, meanspirited and silly.
I dont profess to be either politically correct OR intelligent but I do recognize mean, nasty name baiting.
Unquantifable, anonymous namebaiting from grade school. It should be above you.
The new norm in the “twit”ter universe.
Perhaps you should all reread your reply’s and see if you can find the point at which you crossed the line from “comedy” to mean and nasty.
Switch the word “gay” or “alternate lifestyle” with “fat” or “retarded” and you might get the idea.
I’m sure most gay people reading your “yuk yuk, ha ha ” comments are dismayed at using their sexual preference as a punchline….
But I feel as if I’m reading Shakespeare’s Romeo and Juliet to a herd of inbred feral hogs so I’ll stop now and let the coffee work its magic.

PS. No I’m not gay but I do have gay friends of both sexes. They’re very nice people. You should all get to know some.

#210 IHCTD9 on 11.11.15 at 11:52 am

#47 Carly in Cabbagetown on 11.10.15 at 7:41 pm
Sorry, Garth, I just can’t let this one go past.

You referred to “…newly-minted but gender-challenged Finance Minister Bill Morneau…”.

I read that as being “challenged”, (unfairly of course – it’s implicit in the language), because he is part of a cabinet that explicitly chose to limit males to 50% of the personnel. (Rather than the 49.5% males comprise of the total population?)

So men are at a disadvantage, and an unfair one in your eyes, because of this, therefore “challenged”.

Did I get that right? Was it a typo?

This sounds sadly consistent with a blog that too frequently contains misogynistic commentary and has about a 90% male readership.

But is it consistent with your real values, Garth?

Care for an edit?

We all make mistakes, and it appears you have made one here, a particularly offensive one.
___________________________________________

Dear Mr. Prime Minister,

Please massively increase the immigration levels of women from developing, and third world nations.

Canada is in dire need of normal women, a large portion of our current supply is in an unfortunate state of decay. A few good suggestions (as I’m sure you would mightily agree) would be record breaking female immigration levels from Brazil, Columbia, Mexico, hell – anywhere where Latina Women happen live. Also Chinese women would be excellent as well (more please).

Thank-you for your consideration!

#211 crowdedelevatorfartz on 11.11.15 at 12:10 pm

@#142 Disgusted
“Why? So that more people would click on the page? Disgusting”
+++++++++++++++++++++++++++++++++++

Wow! Talk about assumptions.
You actually believe posting a picture of a deceased Canadian soldiers’ pet dog on Remembrance Day was all about “visit numbers”?
Bizarre.
Apparently you missed the term “Remember” and ‘Lest we Forget’ attributed to the date Nov 11th.
Would you rather he posted the photo on Valentines Day?
Personally I think the photo is an excellent reminder of how soldiers “risking it all” and dying in lands far from home affect everyone around them.
Take a pill.
Relax.

#212 The original dave on 11.11.15 at 12:14 pm

In regards to the talk about men being the less important of the genders. Women are more critical in the pro-creation process.

If you have 20 men and 2 women (a total of 22 people) in 9 months you will have 24 people.

If you have 20 women and 2 men (again a total of 22 people) in 9 months you will have 42 people (2 of them being a couple of very happy men.

#213 cramar on 11.11.15 at 12:28 pm

#83 IHCTD9 on 11.10.15 at 9:01 pm
#17 Vundo on 11.10.15 at 6:36 pm
#10 West coast: that is really a shame that she feels that way. I have come to terms with the fact I am priced out of the RE market. But you know what? I do not despair. I feel liberated.
____________________________________________

You know what someone good at math and mortgages should do? Sit down and figure out just how much more an individual (or couple) needs to make in order to live and work in a big urban center compared to a small town.

200K will get you a decent place in small town (20-50 thousand population) Ontario outside of commuting range to Toronto. If you want a place for 150K we got ’em – or something similar to a 1M 416 shack for less than 100K, plenty available. Hell, that has to be what, a $600.00/month mortgage payment? Cheaper than rent.

I hear you can get a nice 4 bedroom bungalow on an acre in Windsor for like 150K.

Could a couple not serve coffee at minimum wage and own a house at todays rates with these prices?

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

I keep telling the same thing, but people cannot connect the dots.

Don’t know about the 4BR on an acre in Windsor area for $150k (not IN the city), but 3BR bungalow on a large lot is common here (Leamington) for that.

Windsor has the highest unemployment in Canada at 10% (officially). Just last week on the Windsor news an official at an aircraft maintenance company was decrying the fact that he cannot get aircraft mechanics. He said he could hire a hundred if people had the skills.

Seems the Provincial and Federal Gov’ts. cannot connect dots either. Educate for needs. There are high paying jobs out there.

#214 Mark on 11.11.15 at 12:39 pm

“However, for some reason, I read #29. See if you can show a bit of respect for all, especially those that bring so much more to the table than you, i.e. all.”

You wasted a lot of words demanding that I show respect, yet you fail to show respect yourself by such an off-colour comment. Having said that, it wasn’t my intention to slur anyone, but merely point out that the individual in question conveyed an impression of significant distress in his stated beliefs through his body language in the CTV interview I watched.

Considering that the individual in question works for and is the public face of one of Canada’s largest investors in residential mortgages and unsecured retail lending products, objectivity certainly can and should be carefully considered when weighing the public statements of such individuals. The phrase, “It is difficult to get a man to understand something, when his salary depends on his not understanding it” is perhaps apt here.

#215 Mark on 11.11.15 at 12:50 pm

“The new government hasn’t made any statements yet about the Conservative neutron bomb buried in the CMHC. The fun really begins when those guarantees start getting called by the same banks Harper used the CMHC to enrich over his two terms. Economic miracle my a$$.”

So true. By the time everything is said and done, they probably will have to add another $200-$300B to the national debt to take care of the $900B of contingent liabilities at the CMHC. Taking Canada’s federal government debt up to $1T.

It still works out to be less on a per capita basis than seen in the USA, with its $18T of official debt. Assuming a typical 1:10 ratio.

As I’ve written here and elsewhere, there is huge political risk in the Canadian banking system as a substantial amount of uncertainty around those guarantees (and thus the solvency of the Canadian banking system) is likely to arise in the future. The term from the cold war, “Mutually Assured Destruction”, or “MAD” comes to mind when describing the relationship between the CMHC and Canada’s banking sector.

#216 S.Bby on 11.11.15 at 1:00 pm

#142 Disgusted

= TROLL

#217 BlackDog on 11.11.15 at 1:02 pm

Just once, I would like to see a comment like this:

DELETED – sexist remark.

#218 Notsodumass on 11.11.15 at 1:03 pm

Future : Dateline October 2019 Canadian Election, Trudeau Liberals expected to lose 2019 election to New Conservative Party lead by Ben Mulroney and his revitalized caucus of young women. Most candidates are currently unemployed like the other 23% of out of work Canadians. This is due to the stalled Canadian economy brought on by the extreme national debt. Upward pressure on interest rates in Canada due to the extreme indebtedness of the government and citizens at large has caused bond markets and loan rates to inflate dramatically. Mortgage rates now at 7% have caused the price of homes to devalue across Canada, while many unable to renew mortgages are abandoning family homes.
Tax increases imposed on the top 1% have seen deterioration in incomes at all levels including the middle class. TFSA‘s have been eliminated entirely and only federal pension plan is available and taxed accordingly. Carbon taxes and other green taxes have seen fuel and electricity in an agreement with Ontario Hydro and Federal Liberals, increase by 25% this year alone. The Alberta tar sands which have now been shut down completely since the 2017 world carbon agreement negotiated in November 2015 has seen the talk of new pipelines diminish to zero. Alberta unemployment has leveled at 31%, slightly above the national 23% figure. Recent oil train derailments have spawned a new industry to clean up rail spills at newly constructed rail to ship oil ports in Burnaby, Winnipeg, Churchill and White Rock BC, run by Petro Can which was repurchased by the Government to control energy.
Long form census has resulted in 20,000 new federal jobs being created along with 27 regional offices to tabulate people and their actions. Fines are now set at $5000 for failure to complete the long form every six months as required under new Liberal laws.
As Canadians can no longer afford vacations most travel businesses have been turned into refugee relocation operations under Canada Govt Relocation Services resulting in an additional 30,000 jobs for this new Government Ministry.
The 2015 promise to begin an inquiry into missing aboriginal women was delayed due to cost however the federal Liberals have agreed to set up a committee after the 2019 election. Federal Finance Ministry advise that in terms of the 2019, 58 cent Canadian dollar the inquiry will be more cost effective.
Make your vote count in this 2019 election.

#219 Broke Dick on 11.11.15 at 1:09 pm

#212 The original dave on 11.11.15 at 12:14 pm
In regards to the talk about men being the less important of the genders. Women are more critical in the pro-creation process.

If you have 20 men and 2 women (a total of 22 people) in 9 months you will have 24 people.

If you have 20 women and 2 men (again a total of 22 people) in 9 months you will have 42 people

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

Not if they’re “confirmed bachelors”

#220 Ole Doberman on 11.11.15 at 1:12 pm

Looks like oil going to $130 – this from a credible news source BNN:

http://www.bnn.ca/News/2015/11/10/Oil-could-hit-US130-as-US-output-falls-off-a-cliff-says-analyst.aspx

#221 paul on 11.11.15 at 1:20 pm

I’ll be 60 years old next year. I’ve survived three near fatalities, four surgeries in my life and I’ve been lucky enough to be married to the same woman for 35 years. worst of all I’ve lived through a stroke and triple bypass, oh yeah I almost forgot the hemorrhoids, impacted too. I think I’ll get through this event, just keep putting one foot in front of the other and get to the store to get my lottery tickets, that’s the plan and keep collecting a pension as long as I’m breathing, or if the wife listens to me a lot longer.

#222 Nora Lenderby on 11.11.15 at 1:23 pm

#123 Nora Lenderby on 11.10.15 at 11:12 pm
So they don’t pee in your soup, silly.…” That is actually a serious crime…could be considered assault….

Waiter! This soup tastes of pee!

That’s because it’s pea soup, sir.

#223 IHCTD9 on 11.11.15 at 1:25 pm

#217 BlackDog on 11.11.15 at 1:02 pm
Just once, I would like to see a comment like this:

DELETED – sexist remark.
___________________________________________

I’m happy to see Garth allows both sides of the collective opinion thru the gate…

Probably not your preference though is it?

#224 Arfmooocat on 11.11.15 at 1:25 pm

5 Signs Canada’s Housing Markets Are Out Of Control

http://www.huffingtonpost.ca/2015/11/03/canada-housing-market_n_8461888.html?utm_hp_ref=real-estate-canada

#225 Nora Lenderby on 11.11.15 at 1:28 pm

#164 Ontario’s Left Coast on 11.11.15 at 7:48 am
#157 Freedom First on 11.11.15 at 3:19 am
#95 Johnathan
“You are a liar. I have made it clear on this Blog I love women…”

Methinks thou dost protest too much. The first step to true happiness is accepting who you are.

Settle down you boys in the back row.

Mr. FF, you lose the argument according to Godwin’s Law of the Internet for gratuitous use of the term “feminazi”.

Presumably a “mangina” is some sort of fruit? I find visits to the produce stores are quite uplifting these days…there is so much choice.

#226 SWL1976 on 11.11.15 at 1:30 pm

#189 jess

“State officials allowed oil and gas companies to pump nearly three billion gallons of waste water into underground aquifers that could have been used for drinking water or irrigation,”

Sadly the recent fracking boom has more to do with Agenda 21 and phoney sustainability then it does oil and gas or real sustainability. By poluting the water supplies you get people off the land and herded into cities.

Concrete boxes in the sky that the sheep lust over

And just so happens Nestle’ can sell them pure life bottled water that they pay the province of BC just over $2.50 / million liters to bottle up and sell where they please

No that is not a typo

Corporatocracy at its finest

#227 IHCTD9 on 11.11.15 at 1:32 pm

#220 Ole Doberman on 11.11.15 at 1:12 pm
Looks like oil going to $130 – this from a credible news source BNN:

http://www.bnn.ca/News/2015/11/10/Oil-could-hit-US130-as-US-output-falls-off-a-cliff-says-analyst.aspx
____________________________________________

Don’t get me wrong, I’d love to see that happen, but I think he’s got it wrong. US tight oil is fairly prevalent, technology marches on, and most of what I’ve read on the subject says mid 2020’s before a decline in production could happen. Unless the tree huggers manage to strangle it. Also Saudi Arabia could fill a pretty big hole in global production still – and then there’s Alberta waiting in the wings.

#228 MF on 11.11.15 at 1:34 pm

#212 The original dave on 11.11.15 at 12:14 pm

Your analysis is too simple and assumes human beings are like a bunch of rabbits or insects without personality traits or preferences.

We have a tendency to pair bond, at least for as long as the reproductive and rearing cycle usually lasts (about 10 years). Nature has made it so that there is roughly a 50/50 ratio of men to women. Each gender has advantages and disadvantages in the mating game. Ie men maintain reproductive ability into their later years but women do not. Women can afford to be choosy in their early years (18-23) but not later on.

The hypothetical scenario you described is unnatural and some other outside force has produced it.

This idea that men are completely expendable is wrong. FF is right because he acknowledges it.

MF

#229 robert james on 11.11.15 at 1:41 pm

Look at these 2 f***king idiots !! lol http://business.financialpost.com/personal-finance/family-finance/partly-retired-and-living-on-borrowed-time-and-money

#230 IHCTD9 on 11.11.15 at 1:51 pm

#212 The original dave on 11.11.15 at 12:14 pm
In regards to the talk about men being the less important of the genders. Women are more critical in the pro-creation process.

If you have 20 men and 2 women (a total of 22 people) in 9 months you will have 24 people.

If you have 20 women and 2 men (again a total of 22 people) in 9 months you will have 42 people (2 of them being a couple of very happy men.
____________________________________________

Ages ago, I worked in a chicken barn that produced fertilized eggs for chick production. Talk about living the life – a hand full of Roosters among thousands of Hens, with just one job to do.

I wonder how a human population with 90/10 female/male population would turn out?

#231 MF on 11.11.15 at 1:52 pm

#210 IHCTD9 on 11.11.15 at 11:52 am

You are correct my friend.

My girlfriend is from the Philippines. Been in Canada for 2 years now and she is by far the best woman I have dated. Most of her friends are the same way it seems (they are all late 20’s).

To me, the big difference between them and Canadian/Canadianized women is that they know what it means to be feminine 1 and be comfortable with it 2.

Canadian women seem to believe traditional femininity is weak, and is all about cooking and cleaning. It is not. It’s about being gracious, insightful, caring, intelligent..basically her femininity seems to complement my masculinity. She happily cooks and cleans too by the way.

Here’s the interesting thing. I tried to hook up her friend with a few of my buddies. Canadian guys, single, aged 32. To my surprise it didn’t work.

They said the friend was “too nice, boring, will get attached too easily, would want marriage too quickly etc.”

In conclusion, our society as a whole really has lost touch of what it means to be a man and woman and what values to seek. Both genders are at fault for this disaster.

MF

#232 Nora Lenderby on 11.11.15 at 1:54 pm

#180 Bytor the Snow Dog on 11.11.15 at 9:56 am
Give the best person the job. Period. No artificial constraints. I don’t care if that person is male, female, or any of the other assorted genders that some people claim exist these days.

“Mercy! It’s the Revolution, and me in my bathrobe!”

I’m sure Mr. Trudeau the Younger’s choices are all fine people…so much talent. Let’s wish them all luck shall we? Anyway, there are plenty of spares he can use when the inevitable disappearances happen.

#233 Huh? on 11.11.15 at 2:07 pm

Gender challenged? Please explain Garth.

#234 Keith in Calgary on 11.11.15 at 2:11 pm

http://www.zerohedge.com/news/2015-11-11/its-bloodbath-here-biggest-casualty-canadas-recession

Calgary made the front page of ZEROHEDGE today.

#235 OXI in GREECE !! on 11.11.15 at 2:13 pm

Happy Banker Day !! after all….they are the only ones that truly benefit from phoney invented wars right?

#236 Sonofafeminist on 11.11.15 at 2:14 pm

“I wonder how a human population with 90/10 female/male population would turn out?”

Haha what an idea. I wonder if it’s already been done as a scifi short story?

I’m guessing world peace at a much higher average quality if life globally, than in this dimension. However they’d have to cage up the men and use them clinically for reproduction to keep them from trying to take over again and again.

Distopia, to be sure.

#237 pbrasseur on 11.11.15 at 2:20 pm

It still works out to be less on a per capita basis than seen in the USA, with its $18T of official debt. Assuming a typical 1:10 ratio. # 215 – Mark

First what’s the point of comparing CMHC liabilities with government debt?

Second, anybody who pays attention to these things knows that the real US debt is not 18T but about 13T which amounts to about 73% of (previous )GDP, the extra five trillions being intergovernmental holdings owned by social security (of course the medias prefer talking about the 18T but that doesn’t make it real). In its budget the US really has to «serve» the 13T portion. That does not include state debts which are relatively very small compared to Canadian provinces.

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

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

In Canada you must include provinces which play a much larger role that the states in the US, when doing that debt to GDP ratio is about 84%, actually worse than the US, but for the sake of comparing and because apple to apple comparing is difficult to achieve (governments always have a number of unfunded liabilities) let’s say they are similar.

The big difference is that the US have had their correction, in fact much of that debt is a direct consequence of that, this begs the question where will we be AFTER we get our correction?

Other fact is in the US deficits are naturally shrinking fast as growth is picking up, in Canada just the opposing, yet the housing correction is still ahead…

#238 juno on 11.11.15 at 2:26 pm

You look back in time, After 11.11 wwI, there was a man named HITLER,(HISTER) ,

He brained washed his people and convinced them that they were doing the right thing going into WWII.

The power of media, can herd the sheeples any direction they want to choose. But remember when the war was over many German wondered how they ever let this madman go that far.

Fast foward . the dot.com era, the media challenged anyone who wasn’t convinced they were not in a bubble. Until the bubble hit, then they said how could we not see this coming. Who can we blame.

Same with the US housing bubble.
The blame should be put on the individuals, but the political system we have is based on popularity. Might not be right but it will get the politician in.

And the votes wants the party to go on and on. Hopefully we can pass on the pain to the next guy.

But for the sheeples out there, you can believe a saleman (or believe in blind fate) or believe science (mathematician, economics, and common sense)

#239 OXI in GREECE !! on 11.11.15 at 2:28 pm

#227 IHCTD9 on 11.11.15 at 1:32 pm
#220 Ole Doberman on 11.11.15 at 1:12 pm
Looks like oil going to $130 – this from a credible news source BNN:

http://www.bnn.ca/News/2015/11/10/Oil-could-hit-US130-as-US-output-falls-off-a-cliff-says-analyst.aspx
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

Yes…..electric car production and 65 mpg are going to totally send oil north……NOT

#240 Liberal Shock and Awe on 11.11.15 at 2:32 pm

Misdirection…obfuscation and three card monte ‘press conferences’.

So far there hasn’t been a single announcement on how Trudy and the Turds are going to ‘diversify the economy’…..instead we’re getting lost puppy stories about relocating refugee’s at ski resorts in Golden BC…heart surgery for dogs….promises for missing aboriginal women that the RCMP have already said are 99% solved cases…..and the constant fawning balderdash by a leftist media so far up the rear cavity of the Hate Harper meme that Canadians are losing billions daily…..and hardly aware that the ship is sinking…..and all people like Dion are doing is tearing up pictures of the Queen in a well publicized hissy fit.

Where has Trudy been…back in the kindergarten classroom where he’s more comfortable than tackling the very real problems of this nation in trouble.

The Guardian exclaimed that Trudy “lacked intellectual heft”…ditto for the cabinet he’s appointed.

The American Dream is about financial independence….the Canadian Dream is to leave Canada. ….have you noticed?

The Liberal venom directed at people who have been successful in this country is spinning into a mob frenzy of jealousy and envy.

#241 Millmech on 11.11.15 at 2:36 pm

FF
After my divorce have lived as a single life with the girlfriends that come and go,love the no attachment lifestyle,make it very clear from the beginning.Nice to know when we go our separate ways no bills,no payments.
Problem is that my buddies wives always trying to set me up with their friends since I can’t be happy being on my own lol.Funny thing most of my friends who switch places in a heartbeat if it wasn’t for the costs.

#242 MF on 11.11.15 at 2:39 pm

#232 SWL1976 on 11.10.15 at 3:30 pm

“Now, I forsee there will be a lack of experienced people, but a surplus of unskilled, yet qualified people, and by the sounds of the TPP things are not going to get better. So, the highly skilled will still be able to command a preimium in consulting fees to fix all the mistakes of everyone else who are duking it out, cutting corners and undercuting each other.”

Thanks again for the great response.

I graduated in 2002 and it was still highly frowned upon to go into a trade so I know what you are talking about. Wish I did though but I was good at school and thought that would guarantee something (Laugh Out Loud).

One of our friends is a Project Manager who went to university, got certified etc.

He says the same thing as you. Lots of cutting corners, poorly trained guys, cut throat competition. Guys are miserable during projects, euphoric when they are done, and then go back to being miserable when another project starts.

He works on custom houses and says he wouldn’t touch any the market of new builds here in the GTA primarily because the craftsmanship is so bad lol (nevermind the over valued prices and imminent disaster).

The trades guys make more money than he does, even though he over sees their work interestingly.

MF

#243 Nora Lenderby on 11.11.15 at 2:41 pm

#221 paul on 11.11.15 at 1:20 pm
I’ll be 60 years old next year. I’ve survived three near fatalities, four surgeries in my life and I’ve been lucky enough to be married to the same woman for 35 years. worst of all I’ve lived through a stroke and triple bypass, oh yeah I almost forgot the hemorrhoids, impacted too. I think I’ll get through this event, just keep putting one foot in front of the other and get to the store to get my lottery tickets, that’s the plan and keep collecting a pension as long as I’m breathing, or if the wife listens to me a lot longer.

Long may she do so :-)

Just in case any of the other people around here forget what’s important in life!

#244 Nora Lenderby on 11.11.15 at 2:55 pm

#230 IHCTD9 on 11.11.15 at 1:51 pm
I wonder how a human population with 90/10 female/male population would turn out?

Dear me, Mr. Tractor, aren’t you getting a teensy bit pervvy? Repeating yourself again, and again after your misogynist x 10^6 posting of yesterday.

We get it. We really do. You want more subservient women. Sorry about that, dear boy.

#245 Nora Lenderby on 11.11.15 at 3:03 pm

#238 juno on 11.11.15 at 2:26 pm
You look back in time, After 11.11 wwI, there was a man named HITLER,(HISTER) , …

Good gracious! I just bagged two Godwins in one day…
Mr. Nostradamus never foresaw that!

#246 MF on 11.11.15 at 3:04 pm

#236 Sonofafeminist on 11.11.15 at 2:14 pm

haha no way!

Have you seen what happens when you put a room of women together and keep them there for long enough?

I think world peace would be a distant dream in that dystopian nightmare.

#233 Huh? on 11.11.15 at 2:07 pm

-Read post #170 BillyBob on 11.11.15 at 9:26 am:

“Justin Trudeau likes to trumpet the fact that his cabinet has gender parity. False. The Liberal caucus counts 134 men and 50 women, meaning that at the outset, every female MP had roughly three chances more than her male colleagues to be appointed to cabinet.”

That cabinet is a joke.

MF

#247 Holy Crap Wheres The Tylenol on 11.11.15 at 3:16 pm

#204 Marco Polo on 11.11.15 at 11:12 am

Garth,

Thanks for using the photo of Cirillo’s dogs and keeping to your canine theme. Other posters would like us to apologize for being Canadian, to send sorry cards to ISIS, rather than aircraft raids. It was an ISIS sympathizer who murdered Cirillo, and let’s keep Cirillo’s memory alive, and leave the lefties to their new causes du jour.
_____________________________________________
I don’t like to say it but these wars with the likes of ISIS will never end. These scumbag, gutless, whining, slimy, cheating, lying, backstabbing, useless, wormy, fanatical, twisted, sicko, creepy, worthless, woman beating, rapists are like cockroach shit. They are everywhere and nowhere. They wont come out and fight regular armed forces as they are chicken shit and know that they will get their asses kicked. So they are stealthy creepy bastards that will dress up as woman and hide under burkas and such to get close enough to attack. They shoot you in the back. The brave soldiers such as Cpl Nathan Cirillo will be remembered forever. These creeps will be dust!

#248 common sense on 11.11.15 at 3:20 pm

#198 Broke Dick

Do I have a deal for you..3 bedroom, well maintained side split, 5 mins from the USA border with a nice back yard on a quiet street…close to QEW as well.

All for $220,000.

5 mins to shop inexpensively in the USA, 10 mins to NHL games, theater, great dining with free parking, close to airports..

Time to move in with a long time misses…yes FF she’s younger, has her own cash and has family with a LOT of prime real estate in the fruit belt…if [email protected]#$ hits the fan, orchards, farm land, etc…and we’re BOTH debt free.

and of course a prenup to protect her!

#249 IHCTD9 on 11.11.15 at 3:26 pm

#236 Sonofafeminist on 11.11.15 at 2:14 pm
“I wonder how a human population with 90/10 female/male population would turn out?”

Haha what an idea. I wonder if it’s already been done as a scifi short story?

I’m guessing world peace at a much higher average quality if life globally, than in this dimension. However they’d have to cage up the men and use them clinically for reproduction to keep them from trying to take over again and again.

Distopia, to be sure.

___________________________________________

I was thinking more along the lines of everyone starving to death.

I think the old school Star Trek had an episode with some planet ruled by women – they were all trying to get into Kirk’s pants.

#250 Nemesis on 11.11.15 at 3:31 pm

#TunesOfGlory…

http://youtu.be/EBQy9DG2imI

#251 Holy Crap Wheres The Tylenol on 11.11.15 at 3:48 pm

#205 Marco Polo on 11.11.15 at 11:17 am

It will be embarrassing to see any television footage from our new PM today, his father’s war record had lots of dodging, and he kept both feet out of the war. He was a reluctant Canadian, unlike most others at the time.
_____________________________________________
My father was in Montreal just as he was deployed and recalls Pierre Trudeau’s escapades well. My father was in university and joined the RCAF right away. Mr. Trudeau, unlike most Canadians of his age, refused to enlist in the Canadian Armed Forces. This while other able bodied young Canadians were dying in Europe North Africa and the Pacific. While driving his motorcycle through Montreal’s Jewish neighborhood he wore a Nazi German helmet and armband while giving people the finger. What the hell was he thinking? This today would have been seen as it really is an anti-Semitic demonstration.
Let’s hope Junior isn’t a chip off the old block!

#252 Holy Crap Wheres The Tylenol on 11.11.15 at 3:54 pm

#222 Nora Lenderby on 11.11.15 at 1:23 pm

#123 Nora Lenderby on 11.10.15 at 11:12 pm
So they don’t pee in your soup, silly.…” That is actually a serious crime…could be considered assault….

Waiter! This soup tastes of pee!

That’s because it’s pea soup, sir.
___________________________________________
Its been done already!
https://www.youtube.com/watch?v=QRt2_OLY3Ho

#253 Holy Crap Wheres The Tylenol on 11.11.15 at 3:55 pm

Well if it came from anyone but Donald it would be considered real news however he does have a valid point!

http://news.nationalpost.com/news/canada/donald-trump-trashes-justin-trudeaus-gender-equal-cabinet-pledge

#254 Holy Crap Wheres The Tylenol on 11.11.15 at 3:59 pm

#154 Supply/Demand YVR & 416…maybe for now? on 11.11.15 at 2:40 am

#102 Smoking Man
Your theory is correct as long as there are jobs to attract the supply of new arrivals and they can reasonably predict the economy will continue to grow in the near future (i.e., they will not lose their jobs any time soon or they can find new jobs easily if they lose them).
JOBS
Right now you have a weak Labour Force Survey (Oct. 2015 Report: BC/AB up, ON down; 0.1% growth for the month) and a dismal Payroll Report (Oct. 2015 Report: BC/ON July to August, both negative = job losses & BC/ON Average Weekly Earnings went negative from the prior month, wage losses and not gains).
ECONOMY/NEAR FUTURE
I quote today’s Zen post: “a sucky economy which will grow 50% less than forecast”.
You may be correct in the end, I do not know, but the facts show that if recent trends continue, the supply will dwindle in 416 and YVR.
Not many will move to cities where there are job losses and wages are decreasing
___________________________________________
Well Smoking Man did loose his job in Toronto, he did have to move to Boston! We have to wait until Long Branch falls into Lake Ontario and see if his housing market crashes too.

#255 Mark on 11.11.15 at 4:06 pm

“First what’s the point of comparing CMHC liabilities with government debt?”

A fraction of CMHC’s contingent liabilities will eventually become actual liabilities of the government. I calculated that between the deficits Trudeau is likely to run, and the necessity of CMHC bailouts, Canada’s national debt is likely to rise in excess of $1T over the next number of years.

Of course, not all the CMHC guaranteed debt will go bad. But a substantial chunk will. And I’ve assumed that in commentary.

“Second, anybody who pays attention to these things knows that the real US debt is not 18T but about 13T which amounts to about 73% of (previous )GDP, the extra five trillions being intergovernmental holdings owned by social security (of course the medias prefer talking about the 18T but that doesn’t make it real). In its budget the US really has to «serve» the 13T portion. That does not include state debts which are relatively very small compared to Canadian provinces. “

Some say the US debt is much greater than even the official $18T value, on account of the unfunded liabilities relating to social security and medicare. Contrast this with Canada where medicare is considered a part of the ongoing operation of government (and our tax structure is structured accordingly), and CPP is backed by an actual portfolio of diversified assets, not just special-issue US treasuries.

“In Canada you must include provinces which play a much larger role that the states in the US, when doing that debt to GDP ratio is about 84%, actually worse than the US, but for the sake of comparing and because apple to apple comparing is difficult to achieve (governments always have a number of unfunded liabilities) let’s say they are similar.”

Perhaps, but Canadian municipalities do not have anywhere near the debt burden of the US municipal sector. So state + municipal debt in the US most likely is comparable to provincial + municipal debt in Canada. But if you have any numbers to disprove my beliefs, by all means, do prove me wrong.

The big difference is that the US have had their correction, in fact much of that debt is a direct consequence of that, this begs the question where will we be AFTER we get our correction?

As I suggested, likely in the $1T range, but probably not at the $1.7T mark which would be required to achieve per capita parity with the US.

Additionally, in the US, they still haven’t fully cleaned up Fannie Mae/Freddie Mac/the FHA, which serve in a role similar to that of Canada’s CMHC. So the pain isn’t over in the US, notwithstanding the short-term bounce their economy seems to have experienced in the past year or two, but is now dissipating rapidly.

#256 Smoking Man on 11.11.15 at 4:23 pm

#173 james on 11.11.15 at 9:34 am
To Smoking Realtor – on GTA growth of 2000 weekly

You neglect to mention that there are already about half that number dying in the GTA weekly. The death numbers have also increased by 2-3% each of the last few years and that will accelerate with the boomer cohort entering their dying years en masse. Immigration remains pretty flat and will not increase much, if at all, since the economy already has too few jobs. Immigrants who do arrive can barely afford homes at 1997 prices, let alone today’s bubble.

Plus, there are hundreds leaving the GTA weekly, which also will likely increase. Check out the violence and social disruption in large parts of the 905 and some 416 pocket areas and you’ll understand why this is happening.

Net/net, it’s a demographic wash right now. Not likely at all to push prices higher. Much worse, there is really no structural force that can stop a truly catastrophic bubble collapse.

You are part of the schooled herd, schooled by realtors to think things will only go up.

Smoking Realtor, try thinking for yourself for once, not the way your realtor and internet nutbar sites tell you to. So schooled.
…….

Nice Rant.

Translated.

I’m a Renter and it Sucks

#257 Holy Crap Wheres The Tylenol on 11.11.15 at 4:35 pm

Well like it or not Justin Trudeau wants to dump 25,000 unemployed, undocumented, non-French/English speaking foreign citizens on us. How much will this cost? around $250 to $600 Million. I have to ask why the hell doesn’t anybody in power every give a shit about our First Nations peoples who are still sleeping in cardboard shacks on these reserves with no running water? They deserve this money first, NOT SOME FOREIGN PEOPLE WHOM WILL MOST LIKELY LEAVE CANADA AS SOON AS THEY CAN! Our native Canadians, the only REAL Canadians need this cash more than foreigners. It’s always a GOD DAM PHOTO OP with these political assholes, so they can cozy up with the likes of Bono or Roger Waters, “Look at what we are doing for the Syrian refugees.” Ya well charity starts at home!
Thanks for added waste of our money Assholes!

http://www.cbc.ca/news/canada/syria-refugees-canada-susan-ormiston-1.3311786

#258 Marco on 11.11.15 at 5:06 pm

@ bottoms_up
“People that work as servers may be putting themselves through school, or trying to raise a child…they are paid less than minimum wage and you are advocating to not tip??? Get a life my friend!”

I do tip but when I was overseas it’s not necessarily the norm.

Why should a patron have to fuss or made to feel guilty about tipping enough? You’re intentionally made to feel like a cheap ass if you push the lower percentage button on the debit machine.
Include/hide it in the bill.

The restaurant should pay their staff more, instead of relying on their customers to subsidies their workers. Don’t tell me these big food chains can’t afford it either.

Cheers

#259 IHCTD9 on 11.11.15 at 5:08 pm

#244 Nora Lenderby on 11.11.15 at 2:55 pm
#230 IHCTD9 on 11.11.15 at 1:51 pm
I wonder how a human population with 90/10 female/male population would turn out?

Dear me, Mr. Tractor, aren’t you getting a teensy bit pervvy? Repeating yourself again, and again after your misogynist x 10^6 posting of yesterday.

We get it. We really do. You want more subservient women. Sorry about that, dear boy.
____________________________________________

No need to apologize.

I like a woman who is of noble character, not some prissy, PHD in the art of bunched panties and buthurtology.

Anyone who would read what Garth posted as some kind of “vicious” attack on women should have their head examined.

You think I hate women because I posted against a feminist? If so, I have dug Grubs out of my front lawn with more brains than you.

Look at these Chinese immigrant Women: Educated, well dressed, ambitious, cheerful, and completely free of the feminazinutbarism that scars some of the local domestic Women.

I bet you’d love to believe I feel foreign Women are these humble, subservient, made to please domestic slaves. I don’t. They aren’t.

But I’ll tell you what they are: Real life competition for Canadian Women when it comes to attracting mates.

Serious competition.

Don’t believe that old feminists tale about how Men go for immigrant Women because they’ll clean the house without complaint. Look at how many Canadian and US Men are marrying Asian Women these days. You’re smarter than a Grub right? Do the Math.

#260 Freedom First on 11.11.15 at 5:24 pm

#174 Billy Bob

Thank you for your Post. All true. I am a master at understanding human psychology. It is but one reason I maintain a low profile in my life in every area. Garth receives threats on a daily basis. I don’t know how he puts up with it. I love my anonymity, but I am a man of character and do my best to write the truth and be as respectful as I can while visiting his Blog, which I respect very much. It is a gift. Call me an a$$kisser again. I say the truth.

That being said though, I do understand that the majority of people are good, honest, kind, generous, patient, and caring individuals. I am a social being and enjoy people. It is a wonderful world, and I feel Blessed.

#261 Freedom First on 11.11.15 at 5:37 pm

#140 Ontario’s left Coast

Any idiot can get it. I know.

My writing is improving. I have been trying to simplify so any idiot can understand me. It’s working.

#262 Freedom First on 11.11.15 at 5:45 pm

#241 Millmech

Sorry about your divorce, but I am very happy your life has turned out well. Yes. You are a free man living the good life. And yes, I get thanked by my married acquaintances for giving them hope.

#263 Freedom First on 11.11.15 at 6:14 pm

#210 Sonofafeminist

I think it would work better if you reverse the numbers. No offense, as I am sure you meant no offense.

#264 Freedom First on 11.11.15 at 6:15 pm

oops….236 Sonofafeminist

#265 Freedom First on 11.11.15 at 6:38 pm

@209 crowdedelevatorfartz

Well said.

#266 BlackDog on 11.11.15 at 6:57 pm

#223,

You obviously did not get my point. Did you notice I used the word ‘sexist’, not ‘misogynistic’? Changes the nuance of my comment using the former as opposed to the latter.

In other words, a little bit of fair play would be nice with regard to which comments get deleted here and which don’t. For example, it appears to me, that racist remarks are VERY MUCH NOT OK at this blog, but sexist comments are OK. I was merely pointing out the obvious discrepancy.

#267 Ailoo on 11.12.15 at 4:13 pm

#259

I like how noble characteristics for you are the opposite of characteristics for self improvement. It’s actually pretty telling – you want women who’s self worth is dictated by how happy their man is with them. And that’s sad.