Hope

KISSES

While our new PM was the Thrilla in Manilla this week, selfying his way through the throngs, Liberal minions were busy unraveling the Harper years. The first reveal comes Friday morning. The second on December 3rd. The third 90 days later. So, get ready.

Here’s the agenda for today:

Minister of Finance Bill Morneau will deliver an Economic and Fiscal Update on Friday, November 20, 2015. The fiscal outlook will not include measures to be adopted by this Government. The Minister will speak at 10:45 a.m. in the National Press Theatre, 150 Wellington Street, in Ottawa. A media availability will follow.
Embargoed Technical Briefing for Media
Department of Finance officials will hold an embargoed technical briefing in advance of the Minister’s presentation.
Media representatives should present themselves no later than 8:45 a.m. in the lobby of the Department of Finance offices located at 90 Elgin Street, in Ottawa. They will be asked to sign an undertaking to respect the embargo and then be escorted to the meeting facilities. Information in connection with the Minister’s presentation will be made available.
The technical briefing will start at 9:20 a.m.
The technical briefing is for journalists only. No cameras or boom mics.

What will Bill say? Probably that the fiscal situation is more dire than Canadians were told during the election campaign. That, as the Parliamentary Budget Officer just reported,  economic growth will be half what the last guy told us, and the country’s actually still in deficit, not surplus.

Surely Bill will refer to the fact oil just plunged to $40 a barrel this week, which means Stephen Harper’s Calgary house has lost $5,400 of its value since the election. He’ll tell ya this is going to be a long climb back to health, but because we have a hopey-changey (and hot) new leader ready to spend and tax, we can do it.

Morneau may then refer to what’s coming a week from Thursday when Parliament resumes sitting. The first piece of legislation is likely an omnibus tax bill slightly reducing the middle tax bracket (down 1.5%) while creating a big new one at the top (up 4%). These changes will not be retroactive to 2015, but click in with the 2016 taxation year. Unknown is whether the Libs will slice the TFSA contribution limit at the same time, but it now seems likely. The rollback will be from $10,000 to $5,500, again effective January 1st.

Ottawa may chuck the old child-support plan and bring in a richer one, while announcing a big infrastructure spending program to be paid for with debt. Finally, Bill’s bill will also eliminate income-splitting, rough news for stay-at-home moms. Of course, in this new progressive world all women should be working outside the house so they can, of course, help pay the mortgage on the house. We need more mortgages, because the rest of the economy is on life support and thousands of realtor Audi A7 leases currently hang in the balance.

In short, you’re going to be smothered in change. The statement on Friday. The legislative blitz in December. Then the budget in March, which may also launch us into CPP reform, leading to a substantial increase in premiums now and benefits down the road. During the election the average extra amount a worker will pay was estimated at $1,000 a year – far more than the greatest tax benefit someone earning less than $90,000 will gain ($670).

One thing to watch for from Bill – deficit numbers. Yeah, they’re totally boring but may have an impact on your mortgage. The Libs campaigned on spending about $10 billion more than they’ll take in for the next two years, and managing to break even by 2020. Given lower economic growth and the fact the Cons fibbed about having a balanced budget, this is highly unlikely. It therefore looks like at least four or five years of red ink, splashed on top of the crimson sea left by the Harperites.

Make no mistake – big debt, low oil, lousy growth and a weak dollar at a time when the US is growing and plumping rates, is not cool. We’re already seeing the consequences – a steady stream of layoffs, 30% of new houses built in Edmonton going unsold and unoccupied, news anchors laid off at CTV, creeping mortgage rates and 70% of our real estate markets in neutral or decline. So when the Libs cancel pipelines, mull a carbon tax, ban oil tanker traffic or shut down a huge jet order, it doesn’t help much. Let’s hope this is just a phase. You know, like selfies.

Well, let’s end today with a chart. The red line is US oil production from a fracking area. The blue line is Canadian output. Why are the Yanks pumping way more even as the price of crude drops? Because we can’t compete – even with a 75-cent dollarette. And this is our biggest export. Sucks.

Okay, Bill. We’re ready now. Lay on the hope.

ALTA OIL

235 comments ↓

#1 Victoria Real Estate Update on 11.19.15 at 7:28 pm

In early 2010, some realtors in Victoria were probably telling potential buyers the following:

* prices could only go higher
* buy now or be priced out
* it’s different in Victoria
* today’s prices are the new norm
* Albertans, wealthy buyers from China, etc. are buying up Victoria real estate

There’s no doubt that some realtors in Victoria have been using the exact same lines to sell houses in 2015.

This chart plots the price performance of single family homes in Oak Bay against SFHs in Toronto.

. . . . . . . . . . . .House Prices. . . . . . . . . . . . . .
. .Percent Above/Below March 2010 Price Level. .
. . . . . . . x = Toronto, * = Oak Bay. . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
+25%. . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . x. . .
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+20% . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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+15%. . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . .x . . . . . . . . . . . . .
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+10% . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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+ 5%. . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
….0%. . . x*. . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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– 5%. . . . . . . . . . . . . . . . *. . . . . . . . . . . . .
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-10%. . . . . . . . . . . . . . . . . . . . . . . . . *. . . .
—————————————————————————–
. . . . . . March . . . . . . .March. . . . . .January. .
. . . . . . .2010. . . . . . .. 2012. . . . . . .2014. . .

(sources: Victoria’s R/E board, Toronto’s R/E board)

We can safely assume that Oak Bay’s 10.6% price plunge was actually more than that since the information comes from the Victoria board’s frankenumber price index.

In contrast, house prices in Toronto increased 23.3% over the same period of time. Toronto’s housing market did what it should have done – posted strong price gains as 5-year fixed mortgage rates fell. Victoria’s weak market simply failed to do what it should have done.

Prices began to fall in Oak Bay and the rest of Greater Victoria for no apparent reason. No shock was necessary. Buyers suddenly lost confidence and Victoria’s housing market turned on a dime. This is how housing bubbles begin to deflate.

Canadian 5-year fixed mortgage rates have basically already started moving higher. Within 2 to 3 years they will be north of 5%.

Falling interest rates create a highly stimulative environment for a housing market.

Rising rates create an environment that is the opposite of stimulative.

Prices in Victoria fell while stimulation was being applied to the market. It’s obvious that prices will fall much further and stay down for many years with the environment now changing from stimulative to the opposite of that.

Victoria’s housing market missed out on the opportunity of the century to post strong price gains like the rest of Canada while record-low rates were in effect. That extremely unusual and rare opportunity isn’t coming back for a long time.

There have been plenty of promises that haven’t come true in Victoria since 2009 for those who took on hefty mortgages.

Victoria’s housing price correction will be deeper than any Canadian economist could imagine and it won’t happen slowly.

The rest of the world knows what happens next in Canada.

#2 RIP Economy on 11.19.15 at 7:28 pm

Welp, voters want it now they got it. No more higher TFSA for regular Canadians, TPP for the big guys.

I hope knowing that instead of putting 10K away I am putting 5.5K away, while investing in the corps that are going to put you (yes you) out of a job once TPP is in, gives you comfort from the bread lines.

#3 Humanitarian on 11.19.15 at 7:28 pm

Last!

#4 crowdedelevatorfartz on 11.19.15 at 7:36 pm

But of course the Harperites will poo poo the mere thought of a suggestion that they ran deficit after deficit and left the Liberals with a big pile of steaming “debt”.
Cant wait to see the economy in 12 months.

#5 TurnerNation on 11.19.15 at 7:36 pm

Wait did I read hoard or horde?

#6 Mark on 11.19.15 at 7:40 pm

If the Liberals are smart, they’ll acknowledge that there’s a capital hole at the CMHC well in excess of $100B. And come up with a plan to fill that hole. Blaming such on the Tories of course who presided over much of the inflation of the housing bubble.

at a time when the US is growing and plumping rates

Only if one believes the propaganda…. The real story, on the ground, is quite different in the US.

#7 Randy on 11.19.15 at 7:43 pm

I am an age where I have very little to lose and a lot to gain from the Liberals Program. Work Harder, I’m counting on all of you.

#8 mitzerboy aka queencity kid on 11.19.15 at 7:44 pm

pooro Saskatchewan we never learn

another moosejaw con saying bad things… again

http://www.cbc.ca/player/play/2679166905

#9 bill on 11.19.15 at 7:45 pm

so taxes are going up and business is being discouraged.
and we gall get a lot more government debt.
will there be a cmhc bailout Garth?

#10 Julie K. on 11.19.15 at 7:49 pm

What will Bill say? Probably that the fiscal situation is more dire than Canadians were told during the election campaign. That, as the Parliamentary Budget Officer just reported, economic growth will be half what the last guy told us, and the country’s actually still in deficit, not surplus.

*******

Only hoping this is not a really dumb question but why oh why can leaders so boldly lie to the sheeple about key fundamentals such as the financials?

Are there laws against them fibbing? Can we go back to the “last guy” and hold them accountable for falsifying the numbers?

What am I missing that we allow governments to lie without impunity?

It’s just so wrong.

#11 Drill Baby Drill on 11.19.15 at 7:50 pm

Why was Keystone cancelled ? Look at your chart and follow the money.
And here you thought it was because the greens were politically strong.
PM Wynne’s little boy Justin thinks he is Obama’s new best friend.
The US is not the Great White North’s friend.

#12 Herf on 11.19.15 at 7:52 pm

Re: the anticipated agenda:

Standard Operating Procedure of most incoming governments: discover how “bad” things really are and blame the previous administration (whether justified or not); then sell your own new agenda as the salvation via the hope-and-change message/thingy. But the hope and change message is really political gobble-degook double-speak for the true message, which is:

http://axiomamnesia.com/wp-content/uploads/2012/02/314384_275100845860349_205971906106577_708713_1779232651_n.jpeg

#13 Future Disgraced Senator on 11.19.15 at 7:54 pm

I hope the TPP at least protects our water as NAFTA didn’t because between drought and the amount that is being forever removed with all of this fracking water is the truly valuable commodity.

#14 That guy on 11.19.15 at 7:54 pm

I can’t believe you parroted Sarah Palin… yeash, garth – how low can you go??

(and apparently she was so wrong. Can you imagine if Palin and McCain did get in?? )

#15 BC Guy on 11.19.15 at 7:58 pm

Nobel Laureate says:

“The rules of the market have been written to serve the interests of the 1%.”

“We tax people who speculate on land about half the rate people who work hard for a living. What does that do?
That encourages that kind of speculation but it also means those who are the land speculators, wind up wealthier and wealthier.”

“The TPP is not a deal designed to benefit ordinary citizens in Canada, the United States, the middle class. It’s designed to actually increase the inequality in our society.”

I’ve been complaining about this for months!! The Liberal government should not only increase tax on income, but dramatically increase tax on large land holders/speculators.

http://www.cbc.ca/news/canada/british-columbia/joseph-stiglitz-economic-inequality-1.3326999

#16 espressobob on 11.19.15 at 8:02 pm

The party is over in the oil sands, bummer. Some of these stocks have been crushed beyond belief.

But why would a globally diversified investor care about a sector in a country which reflects 4% of the worlds economy anyways?

#17 NEVER GIVE UP on 11.19.15 at 8:05 pm

I worry a lot about things like TPP and other trade agreements that take power away from our sovereignty. But if you think about it a little more deeply if we deepen trade relationship with nations that we have problems with like China Russia Iran we stand a better chance of avoiding nuclear war. So what would be more expensive having a trade agreement that is 20% in their favor or risking a terrible war outcome in the long-term future. It is possible that this is what the powers that be are really thinking about when they make these trade deals that look pretty unpalatable to us right now but may in the long run be the cheapest and best option for all humanity.

#18 Freedom First on 11.19.15 at 8:08 pm

Income splitting for couples, child care provisions, and all in an age of world overpopulation. People only take a short term view of things. China had it right with a one child policy, but they blew it when they again took an economic perspective. I think it is time that us singles/childless people or couples started getting tax breaks for doing what is best for all of humanity. Look at the air quality in Bejing. That is the future unless the human race changes. And think, it is your kids and grand kids, not mine. Our resources, air, water, land are necessary for our survival. Species are disappearing daily at an alarming rate, and most people are slfish and don’t give a $hit.

Cue the personal attacks on me. I don’t care. I am right.

#19 Irish Stew on 11.19.15 at 8:09 pm

A great read Garth – much appreciated.

#20 Patrick on 11.19.15 at 8:10 pm

I guess that’s as close to peonies and sunshine as we get around here

#21 joblo on 11.19.15 at 8:11 pm

Hey it’s not Harpo’s fault the Saudi’s and OPEC drove the oil price down so low.
Don’t we have any GM shares left to sell?
Here’s hoping MOURNO has a new Economic Action Plan!

#22 cecilhenry on 11.19.15 at 8:11 pm

Envy, envy, envy.

Take, take, take. Its the liberal way.

Fleecing the productive is a sure way to make the productive disappear or at least foster the parasitic mindset to steal, lie, coerce and destroy. Taxed on the money you earn, then taxed on savings, taxed on investments, taxed on tax.

Government regulation and coercion in Ontario and Canada is just insane. Why work??? WE have communism. The government control wages and incomes AFTER the fact with taxation. The government takes 50% of everything. If you work hard then it is simply given to someone else by force.

#23 Transformer Man on 11.19.15 at 8:12 pm

Darkness will blanket the land. No really, it will…

#24 Ryan on 11.19.15 at 8:13 pm

Garth is getting me down. I need a happy post soon.

#25 saskatoon on 11.19.15 at 8:14 pm

garth,

is income splitting then gone for the 2015 tax year?

#26 HD on 11.19.15 at 8:14 pm

“Unknown is whether the Libs will slice the TFSA contribution limit at the same time, but it now seems likely. The rollback will be from $10,000 to $5,500, again effective January 1st.”

Sigh….that would suck. I was really hoping to take advantage of this one more time….oh well.

Best,

HD

#27 James on 11.19.15 at 8:16 pm

“Well, let’s end today with a chart. The red line is US oil production from fracking. The blue line is Canadian oil sands output.”

Good chart.

This could be seen coming a mile away. Anyone following US oil and gas investment could see an exponential increase in that sector.

It doesn’t surprise me that the average person couldn’t see this coming. What shocks me is that the Albertan government was too myopic to bother checking up on the rivals to their main industry. Every oil and gas magazine was talking about this, yet they continued to spend like drunken sailors.

#28 Ret on 11.19.15 at 8:19 pm

Minor tweaking of the income tax threshold rates, scaling back TFSA’s, and a new carbon tax won’t fix this mess.

If the feds don’t kill off what’s left of the economy with new taxes, the provinces and the municipalities will.

#29 rawdiswar on 11.19.15 at 8:20 pm

Collectivist thinking at the federal, provincial and municipal level.

How long until a Canadian municipality goes bankrupt?

The over/under is 3 yrs.

#30 JO on 11.19.15 at 8:23 pm

Truth be told it would not matter who won the election as what we will go through over the next 4-5 years was due to happen under any party. Losing this election was a blessing in disguise for the PCs

Now begins the reign of the liberal do gooders. A bunch of corrupt and incompetent sleaze balls who will borrow 30-50 billion into the fall of 2020 ( it I’ll be a hell of a lot more than what they tell us) effectively stealing the resources now and cheating our young and unborn out of prosperity. Only governments think borrowing your brains out is a great idea when rates are at record lows and debt levels at record highs. And with a weak economy that has a realistic chance of sliding into a serious recession anytime.

We will look back at these morons in a few years and wonder: what the F……k were we thinking ?

This much is certain: they will come after most of us to steal even more. Then as the interest charges consume more and more of the budget, social benefits will be cut and taxes increased even more until the average middle class person or moderately successful citizen is left broke and living in Venezuelan like conditions as these crooks squander all money.

JO

#31 Smoking Man on 11.19.15 at 8:26 pm

Communism

At leased under Communism, the government would feed you, house you.

Under Wynne and Justin’s Cultural Marxism blue print, they aren’t doing that.
You take all the risk, work your ass off and the buggers with the state power to back them will steal your best fruit. It’s theft, pirates in it’s most despicable form.
The two amigos are going to destroy Canada.

I saw this coming a long time ago, what else is new, It’s what I do. See shit.

I re-structured, new gig consulting in the USA for green backs. Put the bulk of my wealth out of reach of these grubby little tree hugging hands.

Knowing that those snotty downtowners who put these pirates into power will not be immune for the wrath about to be bestowed on them.

Only thing left to do, sit back, drink, say stupid shit on here, and watch it all unfold as I chuckle.

#32 Scott Danson on 11.19.15 at 8:26 pm

Having a $60,000 a year job and losing 90 to 95% or more to income taxes, C.P.P., E.I. premiums, union or association dues, double land transfer taxes, carbon taxes, eco fees, 3 times higher electricity, water, heating, food, gasoline, condo fees, auto, home and other insurance premiums, home and car repairs, home and car maintenance, rent, mortgage costs, medical expenses, credit card monthly payments, auto lease or finance payments bi-weekly not monthly anymore etc. etc. etc. is not working either.

Liberals make working for a living impossible and actually people being poorer than those on only government assistance getting everything free now from electricity to medical care, dental care to housing, clothing, transportation allowances, $600 to $700 a month in Canada, Ontario child ass assistance payments, G.S.T., H.S.T., seniors tax credits paid as refunds, pensions and income support payments in older years are all actually are better off.

Guess what, they don’t pay any income taxes, C.P.P. E.I. premiums, union dues like us suckers. The western world has the richest poor people in the world.

#33 La Critique on 11.19.15 at 8:30 pm

The Liberals got a clear mandate and they are carrying it out without delay. No bitter, please. Trudeau said what he was going to do, now he is doing it. We voted for that. I know, maybe not you, but the majority of us did.

Would be nice if you didn’t write in a tone worthy of “the Sun”. For a man as educated as you, you have a real nasty anti-intellectual streak. Today it comes out real strong with the anti-carbon tax thing. Read these two links if you have time, and think things over, Garth. If you’re going to have STRONG opinions, please, at least have informed opinions. Because ignorance + strong opinion is exactly what we’ve been getting out of Harper’s gang, and I thought you didn’t fit in. So don’t be like them.

http://induecourse.ca/when-is-a-tax-not-a-tax-carbon-taxes-vs-carbon-prices/

http://induecourse.ca/the-two-worst-talking-points-on-carbon-taxespricing/

A lot of dishonesty too. The new government “cancelling pipelines”. Which ones? The ones that didn’t get approved in the first place and were never more than a pie-in-the-sky dream? Get real. Your social darwinist paradise will never happen. You keep saying you’re a Canadian patriot, Garth. But you sound like you belong in Texas…

In the election, 39.4% of voters chose the Liberals. The rest did not. Keep the sanctimony in check. — Garth

#34 common sense on 11.19.15 at 8:37 pm

Great Post..

Funny listening to NPR today, I heard a story where more Mexicans where heading home in numbers larger than those coming to
the USA….

Are we free to also move to where the jobs are under NAFTA? ;)

#35 prarie person on 11.19.15 at 8:41 pm

Goldman eyes $20 oil as glut overwhelms storage sites

#36 Ret on 11.19.15 at 8:44 pm

Can anyone tell me how $6M spent on new windows and upgrading the HVAC system for prisoners in the Barton Street jail in Hamilton will, “increase staff and inmate safety, enhance mental health supports, improve rehabilitation and reintegration programs, and break the cycle of reoffending to build safer communities.”

Your tax dollars art work Ontario!

http://www.thespec.com/news-story/6126152–6-million-renovations-underway-at-barton-jail/

#37 Ronaldo on 11.19.15 at 8:44 pm

#32 Scott Danson

”The western world has the richest poor people in the world.”

Sounds like good planning on their part to me.

#38 common sense on 11.19.15 at 8:45 pm

#11 Cecilhenry

Exactly..why work your butt off when a majority is taxed to the hilt..

Better to be in the 1% or in the bottom 20% as the rest pay for both classes..

I’d love to see recent estimates of the underground economy.

Typical conversations with self employed plumbers, electricians, etc lately has been “If customers pay cash and no receipt is required, it’s 100% going in my pocket.”

S.O.S.

#39 wallflower on 11.19.15 at 8:52 pm

doogies doogies doogies lovin’ them!

#40 Washed Up Lawyer on 11.19.15 at 8:53 pm

Years ago I found myself travelling north on a highway back to Cowtown after a day hunting in the montane south and west of my shanty. I passed a ranch with a signpost above the driveway and it read:

“Belly Acres”

It struck my funny bone. Good name for this snowbound wasteland.

#41 TRT on 11.19.15 at 8:55 pm

Negative rates coming at next downturn.

Bank of Canada rates can go like this:

0.5 –> 0.25 –> 0. –> -0.5 –> -2.0%

Wow. Check the link below. Hold cash at the next downturn and you alone will be bailing out the economy.

http://www.afr.com/news/economy/monetary-policy/negative-rates-lessen-need-for-inflation-reset-says-bank-of-canada-20151113-gkyv9e

#42 espressobob on 11.19.15 at 8:56 pm

https://ca.finance.yahoo.com/q/bc?s=COS.TO&t=5y

https://ca.finance.yahoo.com/q/bc?s=ECA&t=5y

https://ca.finance.yahoo.com/q/bc?s=SU&t=5y

http://www.theglobeandmail.com/globe-investor/markets/stocks/summary/?q=TET-T

https://ca.finance.yahoo.com/q/bc?s=PWT.TO&t=5y

https://ca.finance.yahoo.com/q/bc?s=CNQ&t=5y

Well at least Endbridge did ok. Sort of.

https://ca.finance.yahoo.com/q/bc?s=ENB&t=5y

Concentration risk can be a real bitch.

https://ca.finance.yahoo.com/q/bc?s=XEG.TO&t=5y

#43 Transformer Man on 11.19.15 at 8:59 pm

Playaaa

#44 common sense on 11.19.15 at 9:00 pm

#41 TRT

The article also mentions a “soft landing” to RE.

Funny article…time to buy home security safe shares?

#45 Kilby on 11.19.15 at 9:05 pm

Here we go, another day of bashing Justin Trudeau, lets give the guy a chance at least, at least he can talk to other world leaders without pissing them off. I belong to no political party but can we forget the election for awhile, life in Canada will not change much for most of us.

#46 Millenial on 11.19.15 at 9:05 pm

US fracking companies borrowed heavily using the junk bond market to finance their operations. With the nosedive in oil prices, their ability to service the payments on their high yield debt has been strained: they have to keep fracking and increase production even at low prices. They have no other choice. Eventually though, 90% of these companies will default on their payments/interest, so long as oil stays at this price.

And our guys have no debt, right? — Garth

#47 Fuzzy Camel on 11.19.15 at 9:17 pm

I can’t wait to work my butt off, so Wynne can waste it on her social justice warrior ’causes’.

Underground economy is going to roar as the taxed revolt.

#48 Patrick on 11.19.15 at 9:18 pm

#33 La Critique on 11.19.15 at 8:30 pm

What a long and convoluted way to explain carbon pricing. geez “apology pricing”. Maybe you should apologize for wasting my time with that article? 5 bucks and we’ll call it even.

My problem is that not everyone will do it. Not india, not china. I have a strange feeling that we will be the only country who will have to abide by this.

#49 Ronaldo on 11.19.15 at 9:18 pm

#45 Kilby on 11.19.15 at 9:05 pm

”Here we go, another day of bashing Justin Trudeau, lets give the guy a chance at least, at least he can talk to other world leaders without pissing them off. I belong to no political party but can we forget the election for awhile, life in Canada will not change much for most of us.”

You realize of course that you have no obligation to come to this blog. It’s Garth’s blog and he can pretty much post what he wishes wouldn’t you agree?

#50 nonplused on 11.19.15 at 9:25 pm

A “carbon tax” is really just a consumption tax by another name. So what Nutley is proposing with her “carbon tax” is really just a provincial sales tax equivalent to about 11% of gross income. It’s sweet for the government because even the unemployed can’t avoid it. Anyone who argues a carbon tax is not a general sales tax does not understand economics.

Carbon based fuels are the underpinning of all modern economies. None of your lifestyle would be here without them. We would be living in a feudal agrarian society such as existed before the industrial revolution without coal, oil, and natural gas. You can’t even fry your Lay’s potato chips without it. You can’t get to work, heat your home, anything. The only other real contributor to the energy mix has been nuclear and so far that has turned out to be nothing but a looming disaster.

Thus, the carbon tax, when we get it, will make the cost of everything, and I mean everything, more expensive. Teachers will need raises so they can afford to drive to work, the school board will face increased heating costs, so will hospitals, transit fares will go up, and so will everything you buy at the store as it costs more to get it there and more to heat the store. Don’t forget farmers use a lot of diesel so they are going to have to raise prices too. Even the cost of hockey will go up as it takes a lot of carbon to make all that ice.

Because the cost of everything will be going up, total economic activity will of course be going down, because people simply only have so much money. They will buy less stuff, commute less, and spend a lot less on entertainment.

Nutley’s idea is to sell the carbon tax as a “transition to a low carbon economy”. The trouble is there isn’t such a thing at this point in the human endeavor. Nothing. We currently have 2 option: burn carbon based “fossil” fuels or turn out the lights and burn the furniture (also carbon based). Thus, it is nothing more than a huge tax increase.

And all this over a problem we can’t stop anyway. Alberta contributes 1% to world wide CO2 emissions and most of the other 99% thinks we are a bunch of fools to be worrying about it.

From a scientific perspective, even if CO2 contributes to warming, we will run out of economically recoverable reserves far before we reach CO2 levels in the atmosphere that were present in the Jurassic, and the planet was just fine. In fact, the further back you go the more carbon was in the atmosphere and life was just fine. Plants and sedimentation have “sequestered” all that carbon, we are simply returning it to where it came from. Sure we might have to move a few cities up the hill a bit, but we rebuild practically everything every 50 years anyway, so big deal.

“Climate change” is just weather over long periods of time. So grab a pair of cheap sunglasses and enjoy the fact that wine is cheaper because the grapes grow better. Also if the planet is a bit warmer more water will evaporate from the oceans so yes more rain but it might fix the fresh water shortage in much of the world.

#51 Drill Baby Drill on 11.19.15 at 9:28 pm

#45 Kilby
Life will not change much until you realize the tax bills you have been paying have all gone up with no increase in service.

#52 dodgedbullet on 11.19.15 at 9:30 pm

#6

I spent 5 months in the US this year driving 16K KM’s – stopped in 45 different spots… signs of growth everywhere… businesses of all sorts looking for people.

#53 For those about to flop... on 11.19.15 at 9:33 pm

Regarding the discussion about gaming and I.t yesterday
About 5 years ago I worked as a temp at ea / black box in the PWC building near waterfront station.
My job description was to set up meeting spaces ,keep track of inventory and replace broken equipment for the programmers so they could work efficiently.
My point is although I worked for EA/blackbox I know absolutely nothing about gaming and I.T and would not pretend that my job was any more than that.
If had an I.t problem I would just go to the I.t department and tell them what the problem was to the best of my ability.I tried to learn as not to embarrass my self but although I was not tech savvy the manager said I was the best temp they had ever had because I treated it like a normal job and was not interested in playing games all day.They hired me for two weeks originally ,but I ended up working there for nine months until they moved to Burnaby.I learnt a bit but if I ever come here pretending to know anything about gaming/I.T slap me with a wet fish.Other people on this blog should follow my lead.

#54 Ted Saunders on 11.19.15 at 9:36 pm

To TRT #41

I hope that a $1,000,000 Toronto house becomes $200,000 in the next downturn. This will starve municipalities for property tax revenue due to lower assessments so they will jack up property tax rates even more.

The property millionaire on paper will have to pay $15,000 a year just in property taxes and no one will refinance an 80% loss in real estate. Letters will be sent like in the U.S., credit denied, credit cancelled.

The more expensive and leveraged they are, the more they will fall! Lower to negative interest rates are useless like the Bank of Canada and Poloz and his team.

#55 John Charlton on 11.19.15 at 9:36 pm

This oil chart is not Canadian Oil Sands production which is about 2 million Bbls per day and it is only US production from the Permian Basin in Texas. US production from other high cost areas like the Bakken in North Dakota is more comparable to the oil sands, and is under the same economic pressure.

#56 Crabby on 11.19.15 at 9:38 pm

You’re funny. And so wrong.

#57 Smoking Man on 11.19.15 at 9:42 pm

Tylenol

http://m.liveleak.com/view?i=b61_1447896424

Is this dude for real, wants a no fly zone over Syria now that ISIS is getting bitch slapped form above.

Russia hammered ISIS oil tankers and processing centers today..

Why do I get the feeling that the dwarf was in on that OIL action…..

Lots of story’s on the web when he was in the Vietcong hole, he was giving Intel and info that cost American Lives.

Enjoying watching him cringe, he and his neocon palls created ISIS to take down Assad,

Putin out maneuvered him.. Played the game. OK we will do it for you..

Just look at his body language. If he got elected 4 years ago, non of us would be here today to laugh at him..

Certified Insane he is……..

#58 bigtowne on 11.19.15 at 9:42 pm

Canada is unwilling to innovate out of our misery. So oil is $40 per barrel..we could have natural gas as an option for cars and trucks on the road. We could show the world real change; we could lift ourselves out of our misery; we could be the real kickstart out of this slow growth dead end zero interest rate fix that is slowly but surely making matters worse. We prefer to allow our status quo federal and provincial leaders to keep us in the same politically correct game that has lead us down the same no growth path for fifteen years.

#59 Nagraj on 11.19.15 at 9:44 pm

Turmoil in the world of words.

“Oil creep” (as per GT in his last post) is a good one, today we get “mortgage creep”. Love it. Oil creep + mortgage creep = Creepanada.

[Could this get personalized? Alberta divorce court: Yer honour, ever since I got laid off she been callin’ me a oil creep!]
[Hogtown divorce court: Your honour, just because I desperately want us and the children to live in a nice house like other people, he’s taken to calling me that yakky mortgage creep!]

Then there’s “selfying” right in the first line.

[Manila, by the way, has only one l in it. Not like vanilla. Or gorilla. Or manzanilla.] [The Canadian “Manila Thrilla” actually does have competition: Enrique Pena Nieto of Mexico.] [WHY are Cons so plump and ugly?]

YEARS OF BLEAKNESS was, believe it or not, in a G&M headline today (sumpin about Alberda drillas moaning and wailing). Years of bleakness. Absalom, Absalom! The Sun Also Rises Not and oh mercy me how editorially stupid can they get. Years of bleakness. Years of bleakness. Years of bleakness. “Bleakness In Calvary” (Giller short list).

Will Mr. Morneau use the word “macroprudential”?

#60 MSM-Free Zone on 11.19.15 at 9:45 pm

#33 La Critique on 11.19.15 at 8:30 pm
“……Would be nice if you didn’t write in a tone worthy of “the Sun”. For a man as educated as you, you have a real nasty anti-intellectual streak……..”
_________________________

Given his continuing non-partisanship displayed once again in today’s blog, it’s obvious GT has light-years of distance to go to limbo himself beneath “The SUN” standards of journalism, if you can call “The SUN” journalism without breaking into uncontrolled flatulence.

You got it right, though, with regard to “The SUN” being anti-intellectual, though. Ever since the ‘pro-free-speech’ SUN witnessed their pre-election pro-Harper ‘news’ articles being suddenly flooded with comments from the well-informed, they promptly shut down the comments section before they lost too many more converts from their illiterate Ford Nation voter base. Informed SUN News readers have been unable to post on-line comments ever since.

Happily, GT still welcomes comments from all walks of life, even the four-legged kind.

#61 AfterTheHouseSold on 11.19.15 at 9:46 pm

#19 JO

Jesus, JO, that was one hell of a rant. If I wasn’t depressed before, I am now. I’m barely hanging in here this week, and we still have another day to go!

Garth, I could really use a sunshine and pony day.

#62 bdy sktn on 11.19.15 at 9:49 pm

50 nonplused on 11.19.15 at 9:25 pm

A “carbon tax” is really just a tax

From a scientific perspective, even if CO2 contributes to warming, we will run out of economically recoverable reserves far before we reach CO2 levels in the atmosphere that were present in the Jurassic, and the planet was just fine. In fact, the further back you go the more carbon was in the atmosphere
_______________
As per the 2017 climate truth act your comment –
Criminal denial (though probably true and scientifically logical) is punishable by:
3 years incarceration minimum
500 hours environment re education
One summer tree planting or bovine emission capture

Any suggestion that 2deg is anything less than final destruction of mother earth will be treated as hate speech

#63 Doug t on 11.19.15 at 9:51 pm

I have some friends that live in poverty here in Victoria – Liberal, Conservative or NDP it makes no difference in their lives and never will. our city should absolutely be ashamed of wasted money it has spent in a mission to make Victoria a “World class city” – the egos that roost in most political offices are demented and their vision blind

#64 Cici on 11.19.15 at 9:55 pm

#18 Freedom First

Cue the personal attacks on me. I don’t care. I am right.
_____________________________________________

Uh, no…this will be one of those rare occasions where I actually agree with you. Good post…finally!

#65 Retired WI Boomer on 11.19.15 at 9:58 pm

Well that sounds like crock to me, but I am not Canadian, or into Selfies, taxes,. or credit.

What it sounds to me is, credit may be restricted, the dollarette shrinks bit further to make .72 and CASH IS KING.

Get used to it. Credit, DEBT is passed, like the energy explorers.

Time to sell some crap, and go to cash, you can’t trust the other bullshit…maybe even silver…

Yeah it’s Thursday time spent at the gin mill !!!

#66 nonplused on 11.19.15 at 9:59 pm

#58 bigtowne

Natural gas is a horrible vehicle fuel. I have experience with this. When I worked for the local gas utility back in the 80’s we had natural gas vehicles. They were ok if you were only driving around town and then back to the lot at night for an overnight fill. But if you had to go to Red Deer you couldn’t make it without switching back to gasoline, and that’s less than 100 miles! Plus now you have a tank of flammable gas onboard at 3000 psi. It’s just horrible electric is better and recharges just as fast.

Propane is a better option because at least it liquefies at 350 psi so you get a lot more in the tank at much more manageable pressures. That’s why camping stoves and even RV’s run on propane not natural gas. If you had a little Coleman stove with a little natural gas bottle running it, it would run for about 5 minutes before you had to change the tank.

#67 bdy sktn on 11.19.15 at 10:04 pm

 Doug t on 11.19.15 at 9:51
… our city should absolutely be ashamed of wasted money it has spent in a mission to make Victoria a “World class city” – ________________
Victoria is barely a “vancouver island class city “

#68 resouce horny on 11.19.15 at 10:05 pm

Welcome to the resource horny economy.

Much more dumb and devastating than real estate bubble.

Garth never writes about it a word.

#69 Leo Trollstoy on 11.19.15 at 10:07 pm

#53 For those about to flop… on 11.19.15 at 9:33 pm

Well said.

Reputation is everything. Good on you.

#70 Tony on 11.19.15 at 10:11 pm

It looks like the U.S. dollar topped out for good yesterday. I’m all in on gold and silver. The bear market in gold and silver ended yesterday. $2,000.00 U.S. plus an ounce next year.

#71 bdy sktn on 11.19.15 at 10:14 pm

http://www.westport.com/company/investors/

Wpt.to. trucks on ng

Twice a ten bagger followed by 90% plunge

Sold them instrumentation in the 90s when it was 3 guys at ubc

#72 Byron on 11.19.15 at 10:14 pm

Long time reader of Greater Fool, and big fan, but today’s post has an error that seems intentional.

The chart from Bloomberg (http://www.bloomberg.com/news/articles/2015-11-18/opec-threatened-by-u-s-shale-hits-canada-harder-in-price-fight) had a note at the bottom that says “Alberta production excludes oil sands.”

It appears as though Garth removed that note, and then claimed that the blue line on the chart actually represents the oil sands.

Any comment Garth? Did I misread or did you mislead?

Yes, that is the source, from Bloomberg. Read the story – all about how our oil sands are (according to the experts) hooped. — Garth

#73 Smoking Man on 11.19.15 at 10:17 pm

DELETED

#74 Leo Trollstoy on 11.19.15 at 10:18 pm

If the Liberals are smart, they’ll acknowledge that there’s a capital hole at the CMHC well in excess of $100B. And come up with a plan to fill that hole.

I don’t think JT is going to want to do that. The Libs are going to keep that crazy institution out of the press and under the radar.

#75 Patrick on 11.19.15 at 10:18 pm

#33 La Critique on 11.19.15 at 8:30 pm
#50 nonplused on 11.19.15 at 9:25 pm

The conclusion from the second article (I actually got to the end):

“the idea that a carbon tax would cost us anything, as a society, is entirely an illusion.”

He comes to this conclusion after doing some “net-zero” mental gymnastics that would even confuse Wynne and Liz Sandals.

Then he references a G&M article claiming that Sweden, Norway, Denmark and the Netherlands all have carbon taxes and it does no harm to their economies. Ignoring the obvious fact that these countries are a fraction of the size of Canada and doesn’t face the same transportation challenges.

#76 Cici on 11.19.15 at 10:21 pm

#57 Smoking Man

Totally agree with you…he’s very bad at trying to put forward a logical and cohesive argument.

But everything about the interviewing journalist is HOT, and that accent only makes it better. Thanks for the link!

#77 Leo Trollstoy on 11.19.15 at 10:28 pm

As far as the U.S. economy is concerned, the worst is behind them.

It’s Canada that is facing serious headwinds. If you’re only holding maple, or worse, a new house or gold and oil, then you’re looking at a Lost Decade. Maybe two Decades.

http://www.bloomberg.com/news/articles/2015-11-10/macquarie-10-charts-that-show-the-u-s-economy-is-still-underestimated

#78 Chopper on 11.19.15 at 10:29 pm

Agree with smoking man, this punk kid will screw up Canada and all the Harper haters who voted him in will get their just reward. I see dark days ahead and lots of sad faces.

But I like the Smoking Man will enjoy green back income from US rental properties I have while the masses here lead lives of quiet desperation.

Let the bubble pop and the loonie drop, I’ll be enjoying my pop.

#79 Smoking Man on 11.19.15 at 10:29 pm

#40 Bottoms_Up on 11.18.15 at 7:32 pm
The Bowmanville job losses underscores why we need a diversified economy.

In other news, we’re setting record heat temperatures (again), and North Van is mandating global warming stickers on gasoline pumps. Good for them, leading us into the future.
…………………….

Every time I read your name now, knowing what you stand for.

All I see is an unsuspecting virgin touching toes without bending knees, in a really bad neighborhood.

Quick some one report me Wynn’s cultural warriors for the reprehensible and in appropriate behavior.

It’s coming.

#80 Retired WI Boomer on 11.19.15 at 10:33 pm

#31 Smoking Man

“At least under communism they would feed you, and house you”…

…..
What have you been smoking, and -or drinking? Under Communism a lot of people have starved, or froze, or been disposed of in other ways. Wynne is no prize I agree, and we here in the US have this tendency to float excess cash upward in a much larger proportion than historic, by my tenure on this gas bag. Me thinks the credit / debt cycle has reached its zenith, moving to cash or barter shortly.

Gat a better plan Mr. Nectonite, let us hear it. By the way is traffic as awful as I remember it around Bean town?

#81 ROCK BEATS PAPER on 11.19.15 at 10:34 pm

Garth,
The red line is most certainly NOT the US production from franking. It is the large Permian basin only. US oil production is down 500,000 barrels from its peak and the decline is accelerating due to franking’s decline rate.

I was hoping you would pull out the $20 Goldman call. Oil is already at its inflation adjusted lows from 2008 and 1986. You should be offering the same advise about some of the oil company ETFS as you did about the Preferred ETFS.

Oil is a commodity. Preferreds are an asset class. — Garth

#82 Sebee on 11.19.15 at 10:41 pm

Is it me, or are we on a dog photo bender around here? Time for a monkey or bear or something.

#83 45north on 11.19.15 at 10:44 pm

Millenial: US fracking companies borrowed heavily using the junk bond market to finance their operations.

And our guys have no debt, right? — Garth

our guys have a lot of debt: Teck’s balance sheet is under pressure, as it is facing plunging commodity prices just as it invests $2.9 billion in the Fort Hills oilsands project. Its credit rating has been cut to junk status by three rating agencies, and it is burdened with $9.7 billion of debt.

http://business.financialpost.com/investing/market-moves/teck-resources-ltd-cutting-1000-jobs-around-the-world-shuttering-coal-mountain-in-cost-cutting-plan

Kilby: Here we go, another day of bashing Justin Trudeau, lets give the guy a chance at least

his one chance is to make the toughest hardest decisions to preserve what he can. The decision to stop Porter Airlines from flying the Bombardier C series out of Toronto Island Airport was an easy decision. The CBC types that live on the Island smiled and nodded – this was the man they elected. As my Chinese friend says “you pay later”.

http://business.financialpost.com/news/transportation/transport-minister-marc-garneau-rules-out-jets-at-billy-bishop-toronto-city-airport

#84 Garlic Roasted Nutz on 11.19.15 at 10:44 pm

#72 Smoking Man on 11.19.15 at 10:17 pm

DELETED
—————–
On the second bottle of JD early tonight…….

#85 Smoking Man on 11.19.15 at 10:47 pm

#79 Retired WI Boomer on 11.19.15 at 10:33 pm
#31 Smoking Man

“At least under communism they would feed you, and house you”…

…..
What have you been smoking, and -or drinking? Under Communism a lot of people have starved, or froze, or been disposed of in other ways. Wynne is no prize I agree, and we here in the US have this tendency to float excess cash upward in a much larger proportion than historic, by my tenure on this gas bag. Me thinks the credit / debt cycle has reached its zenith, moving to cash or barter shortly.

Gat a better plan Mr. Nectonite, let us hear it. By the way is traffic as awful as I remember it around Bean town?
……………….

I’m only in bean town one week out of the month, and yes it’s bad. I walk a mile from my hotel to the office. Way faster.

Yes I have great idea.

Cut corp tax to zero….Cut Income Tax to Zero.

Fire all the teachers grade 7 and up. let kids learn on line once they have the basics. I’ve learned 7 programming languages on line.

Cut the govt in half after every business in the world moves head office to Zero Tax land.

Wages will sky rocket with the shortage of labour.

Everyone wins.

#86 Keith in Calgary on 11.19.15 at 10:50 pm

Geez Garth…….any desire I had for the sexy lines of the A7 are now gone forever due to the association with realtors.

#87 Smoking Man on 11.19.15 at 10:51 pm

#84 Garlic Roasted Nutz on 11.19.15 at 10:44 pm
#72 Smoking Man on 11.19.15 at 10:17 pm

DELETED
—————–
On the second bottle of JD early tonight…….
…….

First bottle…honest.

I didn’t have a warm fuzzy after I hit the submit button. It diden`t come out right.
Glad it was deleted.

Every time one of those kind of post makes it though the Garto-Filter.

There is hell to pay in his in box.

#88 ROCK BEATS PAPER on 11.19.15 at 11:01 pm

Garth,
You have always reported the facts honestly. US production is in decline and that decline is accelerating. The IEA should have the stats.

Commodities are an asset class. The XEG is an ETF. I would have to check but I suspect the oil and gas companies represent more market cap than the value of all the prefs.

This is an interesting chart. — Garth

#89 Marco Polo on 11.19.15 at 11:05 pm

#68, about being resource horny. I don’t see it as a planning defect. Resources are mostly what Canada has, and mostly what other countries want. If we had something more valuable, we’d be selling that instead.

Bangladesh has very few natural resources, but many people. You’re free to move there, and start whatever people power you want.

The truth is, international finance is very fluid. If there was no interest or value in natural resources, capital couldn’t be raised and projects couldn’t be developed. That’s partly why there is better pay as a worker in oil and gas than there is in manufacture of consumer dry goods.

Basic economics seems lost on this ‘new’ liberal party. Good luck on the green shift. One litre of oil contains the same energy as 35 days of human work. This is the basis of its value. If there was anything cheaper and more efficient, money would flow there.

#90 bdy sktn on 11.19.15 at 11:05 pm

OTTAWA — The Liberal government, elected on platform that pledged to ban partisan advertising, is set to launch a $500,000 digital ad campaign to boost public support for its plan to bring in 25,000 Syrian refugees by the end of the year, according to a strategic plan document obtained by the National Post.
The ads will convey the messages: Act Now, Make a Difference and Here’s How You Can Help. The government will spend a further $130,000 to monitor the effectiveness of the campaign on public opinion.

#91 charles on 11.19.15 at 11:10 pm

So how long before I can take the CPP check downtown and get some legal bud?

#92 joblo on 11.19.15 at 11:11 pm

“In short, you’re going to be smothered in change. The statement on Friday. The legislative blitz in December. Then the budget in March, which may also launch us into CPP reform, leading to a substantial increase in premiums now and benefits down the road. During the election the average extra amount a worker will pay was estimated at $1,000 a year – far more than the greatest tax benefit someone earning less than $90,000 will gain ($670).”

In short, the government is your PIMP!

#93 Justin is Hot, Garth is Not on 11.19.15 at 11:15 pm

Can you imagine such adulation for Harper? That would be truly creepy, guy’s a total weirdo.

If change comes with a little sex appeal for some, so be it.

It’s way, way better than what we had.

#94 nonplused on 11.19.15 at 11:23 pm

#62 bdy sktn

Is the 2017 law going to be retroactive? If so I will drive my 3500 to the trial. Free food for 3 years actually sounds ok at this point.

#75 Patrick

Not sure how I got tagged on your comments but what I will say about the countries listed is that they are not any one of them independent economies. To figure out the real carbon consumption, you have to look at how much fuel is being imported, how much food, how may Samsung TV’s (junk buy LG), how many iPhones, where the electricity comes from, etc. The Swiss for example are known for their banking. Great, good for them. But they all have iPhones and every one of them represents a large consumption of fossil fuels.

And PS for everybody, “fossil fuels” is a misnomer. There are no piles of dead T-Rex bones in the oil bearing strata. Most of the oil is the product of algae type cells and most of the coal comes from trees. There is the odd fossil in there appropriate to the age the sediment was deposited but it didn’t contribute very much to the sequestration of the carbon into buried plant matter that eventually became oil and natural gas, or in the case of trees coal.

#95 ARP on 11.19.15 at 11:27 pm

I’m all out of hope and change. I’m early 30’s and I want out. I’m not supposed to be so disillusioned at this age.

Doing everything right — liquid, balanced portfolio. Young(ish). Six figure+. Nice hair. No debt. Tax optimized accounts. Some of us do listen early on.

I’m all out of hope that anything will actually change to benefit those of us producing in the economy and not living off public debt issuance.

I’m all out of change in my pockets since both Wynne and the newly minted Liberal Federalès have their hands deep in my pockets.

Cost of living inflation eating away at the pocket book monthly, CAD$ devaluation raising costs further on all imported goods. It’s like we’ve all gone MAD and just choose to passively accept it!!

Buy meat lately? Seriously? $25 for 1.2 Kg of chicken? Really? Hamburger $8 / lb? Since when is butter actually worth $7 /lb.

It’s unnerving to see people using credit to have to buy food weekly — talk about a depreciating asset…. and don’t tell me it’s for the “POINTS”. OK maybe the cash back. :)

How the HELL are those of us in the thick of things supposed to get ahead? Oh wait, we’re not. Back to the tax farm! Go earn some more and give 2/5’ths of it back! Bonus time? THANK YOU Miss Taxperson — here’s your half — no it’s OK I didn’t really want that extra $10K in the first place (/sarc)! ORPP you say? Here, take more!

Idiots don’t invest for the future (even a few $$$) and then complain why they have to eat Alpo in their golden years. To quote Dave Ramsey “you’ve got to put some freakin’ money in the freakin’ account”

I want to be hopeful… but all around I can see folks with leery eyes rubbing their hands together to find a way to extract more from us producers.

It’s enough for me to want to turn in my maple leaf – and I consider myself very patriotic!

They need help in bean town SM????????

#96 Panhead on 11.19.15 at 11:28 pm

#40 Washed Up Lawyer on 11.19.15 at 8:53 pm
Years ago I found myself travelling north on a highway back to Cowtown after a day hunting in the montane south and west of my shanty. I passed a ranch with a signpost above the driveway and it read:

“Belly Acres”

———————————————————
There is a golf course I pass on my way west of Williams Lake B.C. when hunting that is named the
Belle-E-Acres. Wonder how many more there are … anybody?

#97 kommykim on 11.19.15 at 11:30 pm

RE:

#23 Transformer Man on 11.19.15 at 8:12 pm
Darkness will blanket the land. No really, it will…

It’s nighttime here too.

#98 Mark on 11.19.15 at 11:36 pm

“Buy meat lately? Seriously? $25 for 1.2 Kg of chicken? Really? Hamburger $8 / lb? Since when is butter actually worth $7 /lb.”

Really? I paid $3.98 for a pound of butter, $10.98/kg for chicken breast (“lesser” cuts were even cheaper), and $9.97/kg for hamburger (ouch!).

Less than half your prices (except for the butter). In Canada no less.

I think your ills probably involve shopping at a high cost retailer. Because those prices you quote are not representative of what Canadians are paying.

Let the bubble pop and the loonie drop, I’ll be enjoying my pop

The popping housing bubble should result in deflation as Canadian demand is significantly truncated in favour of debt repayment. Credit contraction/stagnation is inherently deflationary. Should be good for the CAD$ as things really start to pick up steam.

#99 JC on 11.19.15 at 11:36 pm

#33 La Critique on 11.19.15 at 8:30 pm

Your philosophy professor Dr. Heath is ill equipped to discuss economics. A quick scan revealed the following:

“If people respond appropriately to the price signals, there is no reason that the price increases need reduce their quality of life”

ignores the fact that individual indifference curves vary, and changing the relative prices of goods can lead to lower consumer utility.

and

“The carbon pricing proposals are backed up by cost-benefit analyses, which show that the net benefit of intervention would be positive. With environmental regulation, however, the costs typically have a market price, whereas the benefits do not.”

which ignores the fact that these benefit estimates are typically based on contingent valuation methods which produce wildly variable results, and should be acted on cautiously.

You’ve posted links to a source of affirmation, not information.

#100 Retired WI Boomer on 11.19.15 at 11:41 pm

#85 Smoking Man

Big bet there…. If you cut taxes to zero, you must cut benefits and outlays the same way, no?

Zero old geezer stipend, zero kids and welfare…yeah you’ll be popular like a ZERO!

sure maybe things grow later, but people starve now…

try again.

#101 Smoking Man on 11.19.15 at 11:51 pm

#95 ARP on 11.19.15 at 11:27 pm
I’m all out of hope and change. I’m early 30’s and I want out. I’m not supposed to be so disillusioned at this age.

Doing everything right — liquid, balanced portfolio. Young(ish). Six figure+. Nice hair. No debt. Tax optimized accounts. Some of us do listen early on.

I’m all out of hope that anything will actually change to benefit those of us producing in the economy and not living off public debt issuance.

I’m all out of change in my pockets since both Wynne and the newly minted Liberal Federalès have their hands deep in my pockets.

Cost of living inflation eating away at the pocket book monthly, CAD$ devaluation raising costs further on all imported goods. It’s like we’ve all gone MAD and just choose to passively accept it!!

Buy meat lately? Seriously? $25 for 1.2 Kg of chicken? Really? Hamburger $8 / lb? Since when is butter actually worth $7 /lb.

It’s unnerving to see people using credit to have to buy food weekly — talk about a depreciating asset…. and don’t tell me it’s for the “POINTS”. OK maybe the cash back. :)

How the HELL are those of us in the thick of things supposed to get ahead? Oh wait, we’re not. Back to the tax farm! Go earn some more and give 2/5’ths of it back! Bonus time? THANK YOU Miss Taxperson — here’s your half — no it’s OK I didn’t really want that extra $10K in the first place (/sarc)! ORPP you say? Here, take more!

Idiots don’t invest for the future (even a few $$$) and then complain why they have to eat Alpo in their golden years. To quote Dave Ramsey “you’ve got to put some freakin’ money in the freakin’ account”

I want to be hopeful… but all around I can see folks with leery eyes rubbing their hands together to find a way to extract more from us producers.

It’s enough for me to want to turn in my maple leaf – and I consider myself very patriotic!

They need help in bean town SM????????

They do, this little 50 people company is set to explode in growth, can’t find people..shit is really hard to learn..perhaps an IPO is warranted…

Smoking man the hound dog, smells victory in zero atmosphere.

Send me your cv [email protected]

#102 The Other Chris on 11.19.15 at 11:55 pm

@95 ARP on 11.19.15 at 11:27 pm

Well said. I feel exactly the same way.

#103 Smoking Man on 11.20.15 at 12:00 am

#93 Justin is Hot, Garth is Not on 11.19.15 at 11:15 pm
Can you imagine such adulation for Harper? That would be truly creepy, guy’s a total weirdo.

If change comes with a little sex appeal for some, so be it.

It’s way, way better than what we had.
..

Bahahaha..

I hated the neocon harpo…but I loved my wallet more.

#104 kommykim on 11.20.15 at 12:14 am

RE:

#50 nonplused on 11.19.15 at 9:25 pm
And all this over a problem we can’t stop anyway.

The 5 stages of climate change denial:

1st: There’s no such thing as global warming.
2nd: Well maybe there is, but it’s 100% natural.
3rd: Ok humans are causing it, but we can’t stop it anyway.
4th: Ok we can stop it, but it’ll be cheaper just to live with it.
5th: I’ll be dead soon so who the f^&% cares anyway.

Congrats, you are getting there.

#105 cornstars on 11.20.15 at 12:15 am

Then why, a union guy !
why am I working?
It’s getting better all the time!

I use to be mad at my school!

#106 Herf on 11.20.15 at 12:18 am

#33 La Critique

“Would be nice if you didn’t write in a tone worthy of “the Sun”. For a man as educated as you, you have a real nasty anti-intellectual streak.”

Hey sonny . . .

Garth used to be the financial columnist/editor for the Toronto Sun, way back (probably before your time or when you were in diapers). Now go back to your elitist sandbox.

#107 Canada Sucks on 11.20.15 at 12:25 am

Canada; land of the willfully blind, ignorant and weak. No innovation exists, constant complaining, a massive inferiority complex, unwilling to accept its lame position in global affairs, and maple leafs slapped on everything imaginable. We are nationalists in denial with a NIMBY syndrome. We are ill informed and need to explore outside of our comfort zone. We love telling ourselves it is wonderful here when in fact it is completely behind the times. Look South for a real future and understanding where our policies will be in ten years. We are followers. We are sheep and we are about to have our asses handed to us on a perverbial silver platter. I am so tire of hearing about real estate. It’s all we know and talk about. I thought it impossible to be more boring than we already are, but now I see we are finding new ways to be even more boring.

#108 TurnerNation on 11.20.15 at 12:27 am

Kanada: now, a 2nd World country.

By design, the plan.

#109 MF on 11.20.15 at 12:45 am

@95 ARP on 11.19.15 at 11:27 pm

Haha repped (if that were possible)

Same situation as you as well.

Where are we going?

US? Asia somewhere?

MF

#110 TRT on 11.20.15 at 12:59 am

YVR inventory approaching record low levels.

Illegal foreign cash impacting city.

China had enough. Busted first bank among name that do it. This underground bank alone moved $64 Billion into Vancouver.

http://www.bloomberg.com/news/articles/2015-11-20/china-cracks-64-billion-underground-bank-moving-money-abroad

3.2.1…let the xenophobic accusations start lol

#111 TRT on 11.20.15 at 1:00 am

Oh, One more thing…that $64 Billion didn’t end up in bank accounts, stocks or bonds. Too easily traceable. Guess where it ended up?

#112 Herf on 11.20.15 at 1:01 am

#45 Kilby

Your comment would be cute if it wasn’t so naive, sad and misinformed. See the videos/stories at the links below.

#40 Washed Up Lawyer

Alberta is going to be referred to as “Dire Straits” once Trudope’s minister minions start marching to the orders of Trudope’s chief adviser, Gerald Butts (who advised former Ontario premier, McGuinty). Now the whole country will get to experience Ontario’s green energy program (Alberta in spades). It’s National Energy Program II, but this time aided and abetted by Alberta’s own new leftist NDP government. And here I’d concluded that Ottawa didn’t have to do anything to hurt Alberta’s economy because OPEC had already done the damage. Boy was I naive.

I concluded a long time ago Alberta voters were stupid; now they’ll get to find out for themselves just how much. Other Canadian voters, similarly.

I hope all those big houses people have bought came equipped with wood stoves to help with heating/energy costs. Wait, that won’t help them – the government will bring in a ban on burning wood to reduce green house gases and air pollution.

http://www.therebel.media/environment_minister_mckenna_firm_on_plans_to_move

http://www.therebel.media/jim_carr_the_real_minister_of_natural_resources

http://www.therebel.media/alberta_ndp_s_locomotive_fuel_tax_another_attack_on_oil

#113 TRT on 11.20.15 at 1:09 am

If this foreign money is ever stopped, look out below. If the high end stops selling, who is going to have money to buy the low end $1 million homes?

Not likely to stop since everyone, except the Chinese government, is complicit in breaking laws.

#114 Ex-Cowtown on 11.20.15 at 1:14 am

The Five Stages of Climate Change Delusion:

1. Climate never changed before 1752 and the start of the Industrial Revolution..

2. CO2 levels rising 700 years AFTER a warm episode clearly shows that CO2 is so almighty powerful that it can now change the weather in the past.

3. CO2 levels have never been higher in the 4.6 billion years of the planet’s history, and if they were it’s all lies by Big Oil.

4. By Taxing CO2 we can change the weather, just like the Aztecs changed the weather through human sacrifice. It worked then, it’ll work now.

5. Climate Change is the biggest most dangerous challenge facing the planet.

#115 SWL1976 on 11.20.15 at 1:34 am

#104 kommykim – Now that made me chuckle.

So true

#18 Freedom First – I don’t always agree with what you say, and I am completely fine with that. To each their own. You nailed it with this post.

Two thumbs up

#116 bdy sktrn on 11.20.15 at 1:38 am

#104 kommykim on 11.20.15 at 12:14 am

The 6 stages of climate change denial:

1st: There’s no such thing as global warming.
2nd: Well maybe there is, but it’s 100% natural.
3rd: Ok humans are causing it, but we can’t stop it anyway.
4th: Ok we can stop it, but it’ll be cheaper just to live with it.
5th: I’ll be dead soon so who the f^&% cares anyway.

6 : below freezing in early nov in van, record early open for the ski hills after 1000’s of cultists swear last year that the snow is gone for good “the new normal”.
looks like #1 is correct.

—————-
the proof that you cant fix stupid:climate idiots like kk

#117 Herf on 11.20.15 at 1:40 am

#82 Sebee

“Is it me, or are we on a dog photo bender around here? Time for a monkey or bear or something.”

Nah. This blog has “blog dogs”; the monkeys are in government. Besides, dogs (like in today’s photo) are so cute. I’ve never owned a dog, but my older siblings did when they were kids. My late mother once told me if I were to have a my own pet, to get a dog. She said a dog will perk up its ears when you call it and come to you, jump all over you, being happy to see and be with you. She said a cat, on the other hand, would just look up and give you a dour look and then ignore you (sort of like our politicians). We had two cats when I was a child. The one fur-ball left some brown stuff on my white t-shirt after I picked it up and carried it home. It also took a swipe at my eyes with its claws extended when I unwittingly tried to “stare it down” (fortunately, I only received scratches around and not in my eye). That said, I still like cats, but dogs seem more personable, like a “friend”. I suspect some cat owners will have had a different experience and disagree with me, and that’s fine.

#118 bdy sktrn on 11.20.15 at 1:44 am

my personal “climate action plan” is to let my truck idle for an extra 5 minutes for every time some moron says ‘the new normal’ or some other such nonsense.

it’s going to be nice and warn when i get in tomorrow morning!

#119 Ex-port on 11.20.15 at 1:49 am

@bdy skytrain #71:

Avoid that company like a bad rash. Two current senior management bankrupted another tech company before flocking like locusts to this one. Senior vp engineering (important in a tech company, you think?), is not an engineer, has no degree in any subject, but overrules professionals on tech issues nonetheless.

Major tech development partner from Germany pulled out, others hanging on with promises of vaporware.

My network is buzzing with current and former employees looking for new gigs.

#120 nonplused on 11.20.15 at 2:05 am

#104 kommykim

Congratulations! You get the straw man award!!!

None of your comments were at all relevant to the points I was making! Not even one! You get the logical fallacy award for 2015!

The point everyone has to get is that until fusion works we will burn carbon based fuels or create a nuclear nightmare. Or go back to the middle ages with a great loss of life. You can be as ideological as your fact free mind will allow you to be but this is the cold hard fact of the matter.

#121 cynically on 11.20.15 at 2:13 am

To #10 Julie K.
You are at a loss as to why our politicians are allowed to lie to the sheeple and the answer is there in your choice of that word. The sheeple are Canadians and they have been taught to be so extremely polite and deferent that they would never think of doing such a rude thing as question a politician. Thus we get what we get.

#122 Darren on 11.20.15 at 2:19 am

The good news for all those that voted for change is that they will get change, good and hard.

#123 Leo Trollstoy on 11.20.15 at 2:21 am

#107 Canada Sucks on 11.20.15 at 12:25 am

So when are you leaving?

#124 liquidincalgary on 11.20.15 at 2:24 am

#13 Future Disgraced Senator on 11.19.15 at 7:54 pm

I hope the TPP at least protects our water as NAFTA didn’t because between drought and the amount that is being forever removed with all of this fracking water is the truly valuable commodity

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

how is it that US fracking uses canadian water?

actually, nafta DOES protect canadian water.

#125 liquidincalgary on 11.20.15 at 2:28 am

#17 NEVER GIVE UP on 11.19.15 at 8:05 pm

But if you think about it a little more deeply if we deepen trade relationship with nations that we have problems with like China Russia Iran we stand a better chance of avoiding nuclear war. So what would be more expensive having a trade agreement that is 20% in their favor or risking a terrible war outcome in the long-term future

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

sounds like you “GAVE UP”

#126 bdy sktrn on 11.20.15 at 2:52 am

if you have or had a teen daughter you’ll like this

http://news.yahoo.com/video/bryan-cranstons-grown-man-boy-062410894.html

#127 cynically on 11.20.15 at 2:56 am

#107 Canada Sucks – BINGO!

#128 K on 11.20.15 at 3:04 am

#107 Canada sucks
After living here 2 years I can see where you’re coming from. At the same time Americans get kind of jealous of Canada: health care, better gun laws, reasonable political debates, no GOP craziness. At the end of the day it just comes down to money though -the US has more people and more resources. Canada can’t compete with that even with a better tax scheme. It’s kind of odd to even compare the two countries I guess, you can’t really. Maybe Canucks should just lose the inferiority complex and figure out how to work best with what their country has.

#129 K on 11.20.15 at 3:09 am

Or another thought, maybe Canada could accept more refugees. They might be innovative and unable to move their companies to the US

#130 LP on 11.20.15 at 3:43 am

#85 Smoking Man on 11.19.15 at 10:47 pm

I’m only in bean town one week out of the month, and yes it’s bad. I walk a mile from my hotel to the office. Way faster.
******************
Is that a straight line measure or when staggering from side to side?

#131 Vangrrl on 11.20.15 at 4:01 am

#18 Freedom First: You took the words right out of my mouth. I think you’d be surprised how many people agree with you. This is the Freedom First I like and relate to! :)

#132 BS on 11.20.15 at 4:03 am

T2’s first move was to gift Indonesia $14.25 million for ‘infrastructure’. Now it is estimated he will spend $1.2 billion on fast tracking in the Syrian refugees. All new spending not forecast in those $10 billion deficits. We are 3 weeks in.

The cost of the Liberal government’s plan to resettle 25,000 Syrian refugees has been pegged at $1.2 billion over the next six years, The Canadian Press has learned.

http://news.nationalpost.com/news/canada/price-tag-of-liberals-refugee-plan-to-hit-1-2b-over-six-years-government-document

I bet you can triple that $1.2 billion when all is said and done. Boy wonder can’t borrow and spend your money fast enough. Canada will never balance the budget under Jr. Trudeau.

#133 Freedom First on 11.20.15 at 5:03 am

Thanks Cici. I was going to put “always right”, but I am trying to be humble, as I have made a couple of mistakes in the past, I think, I mean I must have, somewhere, sometime. Can’t remember any though. Must come with living alone.

#134 OBSERVER on 11.20.15 at 5:11 am

#21 joblo on 11.19.15 at 8:11 pm

Hey it’s not Harpo’s fault the Saudi’s and OPEC drove the oil price down so low.
Don’t we have any GM shares left to sell?
Here’s hoping MOURNO has a new Economic Action Plan!
===============

It was Harpo’s fault he encourages speculation thinking housing will go up up and up. Enabling him to collect more taxes

Like housing he thought oil can only go up up and up

But if you look at the charts oil has always been around the 40 dollar and lower range, that is equalibrium.

#135 LowRent of Arabia on 11.20.15 at 6:54 am

Always look at the bright side of things:

PM Selflebrity lets the Mexicans in – More good Mexican food restaurants.

Pulls his F-18 out of the Middle East prematurely – jets will have less hours on them when WW3 starts.

Lets Syrians in – Massacres will be closer to home so no need to load our troops on planes overseas anymore.

From now on in Paris those tables with the view by the window will be empty because everyone will pay the Maitre D to sit in the back near the escape exit.

#136 Harbour on 11.20.15 at 8:17 am

Citi’s Buiter: ‘Confusing’ Fed will never reach normal

The U.S. Federal Reserve will fail to raise its benchmark interest rate to 2 percent before the next recession takes hold and will likely opt for negative interest rates in the next downturn, according to the Citigroup’s chief economist.

http://finance.yahoo.com/news/citis-buiter-confusing-fed-never-110133107.html

#137 George S on 11.20.15 at 8:47 am

In a country with three major political parties there are almost always 60+% of people that did not vote for the winning political party. In most of the elections about 4 or 5% of the people that vote can control the outcome of the election by voting strategically because the base support for the three parties doesn’t ever change.

Why not nuclear? Once the power plant is built it seems to run quite problem free as a good solid base load. There is not much waste. The waste can be stored easily if you have a good site for it. Yes, it is expensive but comparable to Carbon Capture and Storage, and it doesn’t use fossil fuel that we are going to run out of at some point. Hydroelectric floods vast areas of land and all the good spots have been taken. Solar and wind are fine but storage is a problem for the calm cloudy days.

Tax and spend, tax and not spend, not tax and spend, not tax and not spend, there has to be some happy medium.

#138 Grantmi on 11.20.15 at 9:15 am

We will look back at these morons in a few years and wonder: what the F……k were we thinking ?

Amen to that Jo….. Amen.

#139 AfterTheHouseSold on 11.20.15 at 9:54 am

Today is the last day for the Camaro at GM Oshawa as announced back in Dec 2012. I wonder how many of the 1000 layoffs were mitigated by retirement incentives.

#140 Holy Crap Wheres The Tylenol on 11.20.15 at 9:55 am

Canadian Refugee Resettlement Plan Pegged at $1.2-Billion
The cost of the Liberal plan to resettle 25,000 Syrian refugees is pegged at $1.2-billion over the next six years. A government document that lays out the proposed funding model says $876.7-million of that would be needed for this year and 2016 alone.
The federal government has yet to formally reveal the specifics of the plan to meet the Dec 31 target of resettling the 25,000 people. The Liberals only earmarked $100M for refugee resettlement this year.
___________________________________________
Thanks Liberal assholes, I knew this was coming I just didn’t know how quick these clueless liberal bastards would spend our cash on foreign interests. I for one an not interested in spending a single dime on these foreigners. What are they bringing to the table here? Disease, poverty, crime, terrorism, unemployment, we will have to invest tons of cash just to teach them English or French. I know exactly what will happen as soon as they can they will jump at an opportunity to either return home or go to the USA. Like I said you Liberal assholes need spend the money on the real Canadians here that need it first. Our native people are refuges in their own land! I hope you enjoy your photo ops you useless assholes. Nobody give a shit about the native people, f$%king incredible.

#141 IHCTD9 on 11.20.15 at 9:56 am

The lists of woes is getting pretty long – especially in Ontario:

Sky-high Hydro, basically going up quarterly, with the clean energy “discount” coming off next year, Hydro One sale will hit full force once Wynne is done her 4 years.

ORPP laying in wait, either that or increased CPP

Ontario is getting 10,000 of the 25,000 refugees, and Wynne would like to add another 9,000 on top of that.

Carbon taxes laying in wait

Manufacturing exiting Ontario still a steady stream. 25% off on the Loonie is STILL not getting any work into this Province. Just goes to show how uncompetitive we are. If Commodities and then the Loonie ever recover – Manufacturing might as well collectively throw in the towel in this Province (what’s left of it).

Toronto RE market straining to continue an upward climb, once it stops – or falls – the repercussions will be huge and widespread.

Ontario residents have never needed alcohol more than they do now, so Wynne put the prices up.

Wynne passes a bill that strips all independent oversight of Hydro One – and shields Hydro One employees’ salaries from the Sunshine List. Not too confidence inspiring..

Consumer confidence – it’s not going to hold out much longer at the rate we’re going in this Province – and when it blows, there will be blood in the streets.

More money for teachers

Multi million dollar payouts to teachers Union covering “negotiating costs” (WTF?)

More or less everything Wynne has done so far has made things worse for the Private sector, and better for the public sector. Now she has a PM that is on her side from the looks of it.

The worst thing? Ontario voters will vote liberals back in again next time!

Time to find a Government job, pretty soon it just won’t be worth the headache of private sector employment in Ontario anymore. I’ve been at it 20 years in manufacturing here, and the change in that time has been massive, I have been squinting trying to see some light at the end of the tunnel since 2009, but still not a glimmer . Now our government appears to be out to deliberately kill us all off in the private sector.

I shudder to think of what 3 straight years of Wynne/Trudeau will bring us in this Province (beyond a lighter wallet and retirement).

#142 Noel on 11.20.15 at 9:57 am

Oil is not Canada’s biggest export – consumer goods, metals and minerals, food & autos and parts are all bigger than crude oil.

Energy constitutes Canada’s largest export. Here are the stats. — Garth

#143 Holy Crap Wheres The Tylenol on 11.20.15 at 9:57 am

#132 BS on 11.20.15 at 4:03 am

T2’s first move was to gift Indonesia $14.25 million for ‘infrastructure’. Now it is estimated he will spend $1.2 billion on fast tracking in the Syrian refugees. All new spending not forecast in those $10 billion deficits. We are 3 weeks in.

The cost of the Liberal government’s plan to resettle 25,000 Syrian refugees has been pegged at $1.2 billion over the next six years, The Canadian Press has learned.

http://news.nationalpost.com/news/canada/price-tag-of-liberals-refugee-plan-to-hit-1-2b-over-six-years-government-document

I bet you can triple that $1.2 billion when all is said and done. Boy wonder can’t borrow and spend your money fast enough. Canada will never balance the budget under Jr. Trudeau.
_____________________________________________
Don’t worry the budget will balance itself…………………….
I am so glad he is in charge!

#144 Holy Crap Wheres The Tylenol on 11.20.15 at 10:21 am

#57 Smoking Man on 11.19.15 at 9:42 pm

Tylenol

http://m.liveleak.com/view?i=b61_1447896424

Is this dude for real, wants a no fly zone over Syria now that ISIS is getting bitch slapped form above.
Russia hammered ISIS oil tankers and processing centers today..
Why do I get the feeling that the dwarf was in on that OIL action…..
Lots of story’s on the web when he was in the Vietcong hole, he was giving Intel and info that cost American Lives.
Enjoying watching him cringe, he and his neocon palls created ISIS to take down Assad,
Putin out maneuvered him.. Played the game. OK we will do it for you..
Just look at his body language. If he got elected 4 years ago, non of us would be here today to laugh at him..

Certified Insane he is……..
________________________________________
He was much older than me and I was starting my Air Force Career when he was stuck in the Hanoi Hilton. All I do know is that they beat the crap out of him every day as they did with every pilot they captured. As for his confession, its bullshit, he either cracked or gave up. He was an elite fly-boy with an Admiral as his father. He was pissing more dollars than all of the pilots combined with his family wealth. He did have a lot of things correct on how the war was no being run properly. Politically not my favorite guy. He is really out of his league.

#145 Holy Crap Wheres The Tylenol on 11.20.15 at 10:29 am

Well I made a trip to the Cayman Islands this week from the Bahamas and met with some banking and investment people. It appears that JT may not be able to get his greasy little paws on all of my companies cash. Their are ways. Ive never though this way about re-registering a company offshore but it can be done!

#146 Bottoms_Up on 11.20.15 at 10:36 am

#114 Ex-Cowtown on 11.20.15 at 1:14 am
—————————–
Actually harper is on the record in 2007 saying global warming IS our biggest threat. This was before he firgured out he could play the economy and terrorism cards to get re-elected.

And, it’s not just CO2 that acts as a greenhouse gas; methane CH4 is a huge contributor too.

#147 Bottoms_Up on 11.20.15 at 10:46 am

#116 bdy sktrn on 11.20.15 at 1:38 am
————————-
What you point to is climate change, which can include colder temperatures in certain regions. Climate change is local, global warming is the long term trend.

#148 Drill Baby Drill on 11.20.15 at 10:48 am

All on this Pathetic Blog please understand that the international investor is watching all of the serious upward pressure on taxation of all sorts upcoming in this country. Guess what ? they will not be interested in landing their money here. We are a country of commodities exports and our livelyhoods depend on it. So most of you need to knock off the BS and realize we are in serious trouble. We cannot have all of the taxation that is planned for oil & gas and coal and automobiles and electricity generation. We will be brought to our knees.

#149 The real Kip on 11.20.15 at 11:18 am

This blog was so much more fun when everything was just blamed on the Boomers. We haven’t had a Boomer-bash post in a while, we’re overdue!

#150 SWL1976 on 11.20.15 at 11:23 am

#118 bdy sktrn

my personal “climate action plan” is to let my truck idle for an extra 5 minutes for every time some moron says ‘the new normal’ or some other such nonsense.

——————

Good thing its not 5 minutes gor every time you say something stupid…

For your engine would never shut off

#151 Retired WI Boomer on 11.20.15 at 11:35 am

#95 ARP

Prices you see offered for goods reflect the “retail price.” Agreed on this point.

When the price changes up or down it is because of supply changes or the value of the money has changed.

Canada’s vale of money HAS changed of late.

I reviewed my wife’ shopping checkout prices from last week (US-Wisconsin)

Butter $1.98 for a lb. (remember we are on the english system)

eggs .98 for a dozen

Turkey (whole frozen .58 lb.)

Cranberry sauce can 1 lb .69 each

Milk 2.45 a gallon 2% variety

Gas regular $2.09 a gallon (3.89 liters)

So- when you propose to spend more than you make / earn there is a tendency to devalue the currency. That tends to drive retail prices upward.

Increasing TAX burdens at the same time defeats everything-in my opinion.

#152 Retired WI Boomer on 11.20.15 at 11:40 am

#18 Freedom First

Accurate, true, and something politicians NEVER DO!

Just imagine the thought – a TAX that increases with each additional child! Yes, it SHOULD be that way, but I can just hear the moaning already!!

Good job!

#153 Basil Fawlty on 11.20.15 at 11:48 am

The Baltic Dry Index fell to its lowest level in history on Thursday. Good, bad, indifferent?

#154 IHCTD9 on 11.20.15 at 11:57 am

#118 bdy sktrn on 11.20.15 at 1:44 am
my personal “climate action plan” is to let my truck idle for an extra 5 minutes for every time some moron says ‘the new normal’ or some other such nonsense.

it’s going to be nice and warn when i get in tomorrow morning!
___________________________________________

If your truck is 1999 or newer and OBD2 – just chop off the Converter, if you get no CEL light – you still pass the E-Test even if pure Alberta Crude is pouring out the tailpipe!

I love it when government tries to save the planet :)

I once listened to an interview where a guy was talking very convincingly about whatever “good” a government tries to do, you eventually get exactly the opposite of what was intended.

I’ve been testing his theory ever since, and he is doing great so far.

E-tests are an excellent example, good program initially, did some real good. After that, it did next to nothing as most polluting cars had already came off the road, and newer cars became more and more clean running. Then they changed the test to basically just an OBDII port scan, with absolutely no tailpipe measurements at all. If the ECU says all is well – then all is well. This is the test that allowed VW to “pass” all the E-Tests. Nowadays, just about anyone smart with cars can dupe the ECU into believing that all is well with the car’s emission system – even if it is actually polluting like a Boeing 747.

#155 Shelly Driven on 11.20.15 at 11:58 am

In the past two days we have learned that our new government intends to fast track ‘the 25000 refugee’s’ to citizenship and grant them all permanent resident status as soon as they land. And here I thought the concept and word refugee meant ‘to take refuge’ during conflict times and then be returned home . ….apparently the Liberal Lexicon must have an addendum to read ‘we will pay our political supporters first and to hell with any benefit to Canada.

Second….we learn that Canada will run massive deficits past 2020 and run the country into debt the likes we haven’t seen per capita since Pierre Trudeau was throwing out LIP grants to any one voting Liberal.

Canada is dying before our eyes. RIP Canadian taxpayer….you’re so screwed.

#156 Noel on 11.20.15 at 12:02 pm

Energy constitutes Canada’s largest export. Here are the stats. — Garth

Not anymore Garth, crude petroleum exports are down 40% ytd in 2015 – that table will look very different when they update it next year.

It’s not next year. — Garth

#157 IHCTD9 on 11.20.15 at 12:14 pm

#146 Bottoms_Up on 11.20.15 at 10:36 am
#114 Ex-Cowtown on 11.20.15 at 1:14 am
—————————–
Actually harper is on the record in 2007 saying global warming IS our biggest threat. This was before he firgured out he could play the economy and terrorism cards to get re-elected.

And, it’s not just CO2 that acts as a greenhouse gas; methane CH4 is a huge contributor too.
____________________________________________

Probably more like Harper realized (correctly) that no amount of effort on the part of Canada would make a measureable decrease in Global GHG levels.

Myself, I’m not down for the cost and risk of going postal with saving the planet if the USA, and China are not on board. In fact, no one really will be until those two are.

In Ontario, we are living the pain of this boneheaded save the planet policy. Hydro is through the roof, manufacturing is bailing in part because of it. All this just because McGuinty wanted to get rid of Coal fired Plants. We’ve only just begun feeling the pain, and honestly IMHO, this pain is now permanent.

So is the air any lighter in Ontario these days? It sure is, thanks to all the manufacturing that has left. Soon a couple of dirty nasty Steel Mills (5000 high paid jobs) will probably be gone as well, which will really clean up the air…

#158 Noel on 11.20.15 at 12:19 pm

But we do have the stats for September (Cansim table Table 228-0059) that show oil is no longer the biggest export…

Crude oil exports in Sept: $5.8bn
Autos & parts: $7.1bn

We should get used to it the new reality. Canada is no longer an oil based export economy.

Regardless, I enjoy the blog and your viewpoints, keep up the good work and thanks for all the free advice.

#159 Ronaldo on 11.20.15 at 12:22 pm

#149 The real Kip on 11.20.15 at 11:18 am

”This blog was so much more fun when everything was just blamed on the Boomers. We haven’t had a Boomer-bash post in a while, we’re overdue!”

At least not since DonDWest left. Where are you DonD, we miss you.

I believe he suffered spontaneous combustion. — Garth

#160 X on 11.20.15 at 12:28 pm

Didn’t see anything in the fiscal update regarding TFSA changes….was it not covered or are we good for $10,000 TFSA contributions for Jan. 1st…..at least until the full budget comes out next year where we will sit and wait again….

#161 Ex-Cowtown on 11.20.15 at 12:28 pm

#146 Bottoms_Up on 11.20.15 at 10:36 am

#114 Ex-Cowtown on 11.20.15 at 1:14 am
—————————–
Actually harper is on the record in 2007 saying global warming IS our biggest threat. This was before he firgured out he could play the economy and terrorism cards to get re-elected.

And, it’s not just CO2 that acts as a greenhouse gas; methane CH4 is a huge contributor too.

++++++++++++++++++++++++++++++++

Harper was paying lip service to the Global Warming idiots. His plan was to delay and mollify them until sanity returned to the debate and it was eventually forgotten.

Unfortunately T2 was elected, ensuring that the insanity would get ratcheted up, not shut down. Harper knows that the science is BS and it’s just a tax grab. But he’s also pragmatic enough to know that calling bull$hit was not astute politically.

Water vapor is massively more important than CO2 or methane. If CO2 was the main driver, as the green blob says it is, why have global temperatures flatlined since 1996 even though CO2 has increased? That alone makes no sense.

The real world temperature data has put the lie to the Man Made Global Warming Theory. I find it hilarious that now whistle-blowers within the US weather service (NOAA) are ratting out their bosses for providing tampered temperature data to Obama. The tampering adjusts temperatures in the past to make the present look warmer, and Obama needs these lies to push forward his radical climate agenda in Paris.

http://wattsupwiththat.com/2015/11/19/is-noaa-about-to-crack/

It’s amazing what the threat of US congressional sub-poenas will do to get people to come clean about what’s actually going on.

BTW, this is the same data-tampered and lie based climate agenda that T2 is chomping at the bit to sign in Paris.

Harper at least was smart enough to know when he was being played by Obama and the Green Blob. T2? Hook line and sinker time.

#162 TnT on 11.20.15 at 12:30 pm

#18 Freedom First on 11.19.15 at 8:08 pm

The sad part about reading your comment could never be explained to you, shown to you or fully understood by you and for that I feel for you.

Taken in context with your consistent theme of posts just gives me a glimpse of how lonely you must be.

Take some time and get truly connected with the goodness of what life really has to offer.

#163 Shelly Driven on 11.20.15 at 12:32 pm

Oh…and BTW…it’s going to cost 1.2 billion to resettle the 25000….and the propaganda campaign beginning this month is costing 500,000 to convince you that you’re doing good…..forget about the fact that we have hungry seniors, mass unemployment , 2 year waits for MRI’s…..go to sleep….we’re from the government…we’re here to help….go to sleep….zzzzzzzzzzzzzzzzzzzzzzzzzz

Meanwhile the new finance minister says the cupboard is bare…we have to borrow from our great great great grandchildren to pay for the spending announcements. More pandering to come…..feel good about it…higher taxes is the Canadian way.

#164 Spectacle on 11.20.15 at 12:34 pm

#110 TRT on 11.20.15 at 12:59 am

Ok :: this post you made today by #110 TRT, you get my Award for top 10 best blog entry for 2015.

Why: because it explains the exacting mechanics of the How, how money is transferred from a nation (China) around the world. Why Yellow peril belief is a mistake, it’s simple hollowing out of financial system. That they use Realestate or cars, currency exchange is secondary. Don’t be confused. China based money – moved to offshore havens around the world.

Beginning of his post:

YVR inventory approaching record low levels.

Illegal foreign cash impacting city.

China had enough. Busted first bank among name that do it. This underground bank alone moved $64 Billion into Vancouver.

http://www.bloomberg.com/news/articles/2015-11-20/china-cracks-64-billion-underground-bank-moving-money-abroad

3.2.1…let the xenophobic accusations start lol
But you get my respect for a top blog entry of 2015! Please keep it up,

#165 SWL1976 on 11.20.15 at 12:42 pm

So here’s my beef with Canadian innovation.

Last night as I was traveling through Calgary airport, sans geese in the flight path. Thanks. Anyways, I was held up for a few hours so ended up having a few beers. Turns out the guy sitting next to me was a project manager who had traveled from Victoria to Kelowna to inspect a project he was working on. A correctional facility.

He mentioned that this was his second correctional facility and he felt like he is being type cast into building them, and he would rather work on something more inspirational. Anyways when the conversation came to what I was doing I mentioned working up in Fort Mac, where I ensure their rotating equipment keeps rotating, and I am also involved with mechanical design and back engineering or redesigning pump parts. I also mentioned that I would much rather be working on something more inspirational than squeezing oil from dirt.

So here are 2 talented individuals working on projects we would rather not, but honestly there are not a lot of options here in Canada. Great. Oil from dirt and correctional facilities is what I thought.

My point is this: If big money really wanted to invest in the future of the planet then what a wonderful world this could be. Instead: Big money (the private central banks) would much rather invest in war, prisons, control, and brainwashing… For what?

Who are these creeps and why have we surrendered so much power to them?

It is obvious they are leading us down the wrong path, but humanity seems to be mesmerized by the bullshit they spin. They skim monies and profits of our labour being used to build their war machines and our prison cells.

Now, I know for me to be saying this and to be working where I do, doing what I do is somewhat hypocritical, but a man has to eat. It is a means to an end. Squeezing oil from dirt has given me the opportunity to start my own mechanical design business and perhaps one day build something a little more inspirational, but for now this is my best option.

It truly is sad that Canada is becoming a barren waste land for innovation. I have worked in many provinces with many very talented people. The people of Canada do not lack talent or innovation, but our leadership sure does.

Maybe this is by design, maybe it is left to chance…

I’m going with by design

Hypnotized from the day we were born

Humanity needs to step outta this funk brought to us by greedy central bankers

#166 Holy Crap Wheres The Tylenol on 11.20.15 at 12:51 pm

#157 IHCTD9 on 11.20.15 at 12:14 pm

#146 Bottoms_Up on 11.20.15 at 10:36 am
#114 Ex-Cowtown on 11.20.15 at 1:14 am
—————————–
Actually harper is on the record in 2007 saying global warming IS our biggest threat. This was before he firgured out he could play the economy and terrorism cards to get re-elected.

And, it’s not just CO2 that acts as a greenhouse gas; methane CH4 is a huge contributor too.
____________________________________________

Probably more like Harper realized (correctly) that no amount of effort on the part of Canada would make a measureable decrease in Global GHG levels.

Myself, I’m not down for the cost and risk of going postal with saving the planet if the USA, and China are not on board. In fact, no one really will be until those two are.

In Ontario, we are living the pain of this boneheaded save the planet policy. Hydro is through the roof, manufacturing is bailing in part because of it. All this just because McGuinty wanted to get rid of Coal fired Plants. We’ve only just begun feeling the pain, and honestly IMHO, this pain is now permanent.

So is the air any lighter in Ontario these days? It sure is, thanks to all the manufacturing that has left. Soon a couple of dirty nasty Steel Mills (5000 high paid jobs) will probably be gone as well, which will really clean up the air…
____________________________________________
At least when we step outside to get a whiff of clean air it will be,…………..hold on now, shit we will all be unemployed and homeless, that will be a s short step as we will all being living under dumpsters.

#167 Canadian on 11.20.15 at 12:56 pm

Garth any idea on what the long term outlook would be on REITs given the potential for interest rises and a potential housing price decline. Intuitively the value of the REITs should drop but if they are investing in new properties and they have good coverage on Residential and Commercial rents, I can’t see them being high risk.

Considering for my TFSA in 2016.

#168 Smartalox on 11.20.15 at 12:59 pm

@ BS #132:

Well, it appears now that the Harper government was never able to balance a budget either:

http://www.cbc.ca/m/news/canada/british-columbia/topstories/morneau-fiscal-update-1.3327571

In fact, you have to look back over 100 years to find a Federal Conservative government that left the nation’s books in better shape than they found them.

#169 HD on 11.20.15 at 1:00 pm

So no word on the TFSA 10k limit for Jan 1st 2015?

Looks like this is still on.

Sweeet!

Best,

HD

#170 Silent the people on 11.20.15 at 1:13 pm

Garth, HST/GST is going up and provinces will do the same! We’re in for a rough financial ride with a low
dollar to boot! This won’t end well!!! Watch the tax grabs
in the coming months….

#171 JimH on 11.20.15 at 1:16 pm

#153 Basil Fawlty on 11.20.15 at 11:48 am
“The Baltic Dry Index fell to its lowest level in history on Thursday. Good, bad, indifferent?”
=================================
Indifferent.
The BDI for many years was a good indicator of global trade, commodity demand, and the overall state of the global economy. After all, in covered shipments of everything from metal ores to grains to fertilizers, bulk chemicals and coal.
Since about 2003, the index became more and more a narrow statement of Chinese demand for iron ore and coal, commodities now in much reduced demand.

To rub salt in the wound, there was a frenzy in the construction of more and more and ever bigger bulk carriers, and the current fleet is now grossly under-utilized as a result.

As a result of the shipbuilding bubble, drying up of Chinese demand and the global overproduction of coal & iron ore, the BDI is no longer as useful an indicator as it once was.

The Bloomberg Commodity Index is far more useful today.

#172 Bottoms_Up on 11.20.15 at 1:22 pm

#161 Ex-Cowtown on 11.20.15 at 12:28 pm
————————————————————
I’m sorry, Nasa’s long term data on surface warming doesn’t support your unsubstantiated statements:

http://data.giss.nasa.gov/gistemp/graphs_v3/

We are definitively warming on a long-term trend.

You know who Nasa is right?

#173 Holy Crap Wheres The Tylenol on 11.20.15 at 1:27 pm

c’est dommage

http://www.msn.com/en-ca/money/topstories/new-canada-liberal-government-says-inheriting-gloomier-fiscal-outlook/ar-BBnfDzO

#174 Holy Crap Wheres The Tylenol on 11.20.15 at 1:31 pm

#16 espressobob on 11.19.15 at 8:02 pm
The party is over in the oil sands, bummer. Some of these stocks have been crushed beyond belief.

But why would a globally diversified investor care about a sector in a country which reflects 4% of the worlds economy anyways?
__________________________________________
So why is Warren investing in Suncor? Inquiring Minds want to know?
http://www.msn.com/en-ca/money/savingandinvesting/invest-like-warren-buffett-with-suncor-energy-inc/ar-BBn9CEY

#175 Karl hungus on 11.20.15 at 1:50 pm

Source for your Edmonton stat?

CMHC. — Garth

#176 kommykim on 11.20.15 at 1:56 pm

RE:

#116 bdy sktrn on 11.20.15 at 1:38 am
the proof that you cant fix stupid:climate idiots like kk

If you are going to quote me, please do not edit the quote to make it look like I said something else without the proper notation. But I guess this is just the modus operandi of the denier crowd when quoting others.

#177 Ex-Cowtown on 11.20.15 at 2:18 pm

#172 Bottoms_Up on 11.20.15 at 1:22 pm
#161 Ex-Cowtown on 11.20.15 at 12:28 pm
————————————————————
I’m sorry, Nasa’s long term data on surface warming doesn’t support your unsubstantiated statements:

http://data.giss.nasa.gov/gistemp/graphs_v3/

We are definitively warming on a long-term trend.

You know who Nasa is right?

++++++++++++++++++++++++++++++++

You do know that NASA gets their data from NOAA?

I thought not, but thanks for making my point about how pervasive the temperature tampering is.

http://realclimatescience.com/2015/11/record-crushing-fraud-from-noaa-and-nasa-ahead-of-paris/

#178 Chopper on 11.20.15 at 2:22 pm

This really sucks I have no say in how my tax dollars are spent by the knuckle head Liberals. $1.2 Billion dollars to import and support terrorists?

I want a refund of my taxes because I do not support this decision to import 25,000 leeches as that is what it will be because TrueDough has to find a place to shelter, feed and clothe them when the land here.

Effing disgusting. I say follow the Americans in this matter. Fix the cause of the refugee crisis, NUKE ISIS and there will be no refugees to talk about, Syria is there home they should stay there.

I hope the Liberal government is reading my post, as a tax paying Canadian this is how I feel and I have a right to express my feelings.

Refugees are not terrorists or leeches. What a disgusting characterization of people in need. — Garth

#179 bdy sktrn on 11.20.15 at 2:23 pm

#176 kommykim
————————-
point taken. was not trying to make them your words.

hey, i’m a math/scientist type, we are known for shitty english skills.

do you want an poetry guy designing the power grid or a 787?

#180 conservatives spend and waste on 11.20.15 at 2:31 pm

CONs are scum of the earth who spend and waste taxpayers money while selling Canadian assets to their buddies for pennies on the dollar. Anyone who voted CONS hate Canada and Canadians

#181 Smoking Man on 11.20.15 at 2:34 pm

#140 Holy Crap Wheres The Tylenol on 11.20.15 at 9:55 am
Canadian Refugee Resettlement Plan Pegged at $1.2-Billion
The cost of the Liberal plan to resettle 25,000 Syrian refugees is pegged at $1.2-billion over the next six years. A government document that lays out the proposed funding model says $876.7-million of that would be needed for this year and 2016 alone.
The federal government has yet to formally reveal the specifics of the plan to meet the Dec 31 target of resettling the 25,000 people. The Liberals only earmarked $100M for refugee resettlement this year.
___________________________________________
Thanks Liberal assholes, I knew this was coming I just didn’t know how quick these clueless liberal bastards would spend our cash on foreign interests. I for one an not interested in spending a single dime on these foreigners. What are they bringing to the table here? Disease, poverty, crime, terrorism, unemployment, we will have to invest tons of cash just to teach them English or French. I know exactly what will happen as soon as they can they will jump at an opportunity to either return home or go to the USA. Like I said you Liberal assholes need spend the money on the real Canadians here that need it first. Our native people are refuges in their own land! I hope you enjoy your photo ops you useless assholes. Nobody give a shit about the native people, f$%king incredible.
………………………..

No end to this insanity…..

Kathleen Wynne unveils new anti-sexual violence ad
8 million for this 15 second commercial.
What do you expect, look how she deals with teachers.

Mean while business that can leave are packing up.

http://www.cbc.ca/news/canada/toronto/ontario-sexual-harassment-summit-1.3326748

#182 bdy sktrn on 11.20.15 at 2:39 pm

#119 Ex-port on 11.20.15 at 1:49 am
@bdy skytrain #71:

Avoid that company like a bad rash.
————————-
agreed, even with NG almost free they seem to be floundering.

this is the coolest tech project going imo.

http://www.generalfusion.com/

they have been getting more backing $$$ recently. i went over there a couple years ago to check it out, very cool stuff.
it will be quite exciting when they fire up that bad boy.
sure hope it works!
if i wasn’t so completely content/lazy/happy/blogaddicted i’d be working out there, even if just sweeping the floors. they are hiring. plasma physics anyone?

#183 espressobob on 11.20.15 at 2:41 pm

Wow! the oracle is loading up on Suncor, as another poster points out.

Not that the risk in owning individual stocks should be of concern? It seems this blog is pointed to balanced & globally diversified portfolios. Much less risk and quite profitable. Experienced retail investors get this.

Some still follow gurus and hope to hit that home run. For those individuals, go ahead, step up to the plate and lets see what happens?

http://www.investopedia.com/financial-edge/0210/buffetts-biggest-mistakes.aspx

#184 family beagle on 11.20.15 at 2:41 pm

#114 Ex-Cowtown on 11.20.15 at 1:14 am
The Five Stages of Climate Change Delusion:

1. Climate never changed before 1752 and the start of the Industrial Revolution..

2. CO2 levels rising 700 years AFTER a warm episode clearly shows that CO2 is so almighty powerful that it can now change the weather in the past.

3. CO2 levels have never been higher in the 4.6 billion years of the planet’s history, and if they were it’s all lies by Big Oil.

4. By Taxing CO2 we can change the weather, just like the Aztecs changed the weather through human sacrifice. It worked then, it’ll work now.

5. Climate Change is the biggest most dangerous challenge facing the planet.

….

I have a paleantologist in the family. I’ve seen “The Data”. For $5, I’ll confirm or deny, what’s your pleasure? No cash/no opinion from this puppy. Ask your own inhouse scientist. I will offer that your #1 point is abstract denial.

Finance Minister/Mother Hubbard.

#185 The Other Chris on 11.20.15 at 2:45 pm

@169 HD on 11.20.15 at 1:00 pm

There was no word on the TFSA limit this morning, but Morneau promised at the end that he’ll deliver *another* fiscal update before Christmas.

So he’s still got one more chance to lay out the bad news about the TFSA reduction.

#186 family beagle on 11.20.15 at 2:50 pm

Refugees are not terrorists or leeches. What a disgusting characterization of people in need. — Garth

Quote of the day.

#187 pwn3d on 11.20.15 at 2:53 pm

So, the Libs are preparing us for massive tax hikes, just like they did in Ontario. Makes sense, same people in the background. They’re even using the same hidden deficit trick.

Funny, the Star buried their article on the cost of the immigrants, and removed all comments because they were all negative. And I’ll tell you right now, if anyone thinks the cost to house 25k refugees for life (stats for the UK show this is what happens to the majority of them) is 1.2 billion then they must be a complete moron, or so blinded by their SJW rage that they just don’t care how badly this will damage Ontario, where most of these people will end up.

#188 Maggie the Tech Writer on 11.20.15 at 2:54 pm

#179 Hey, i’m a math/scientist type, we are known for shitty english skills.

do you want an poetry guy designing the power grid or a 787?
———————————————————-

Fortunately, a poetry guy wouldn’t dream of trying, but mathy/sciency guys somehow seem to think they can communicate.

#189 All Hail the Slippery Slope. on 11.20.15 at 2:57 pm

DELETED

#190 calgaryPhantom on 11.20.15 at 2:57 pm

This really sucks I have no say in how my tax dollars are spent by the knuckle head Liberals. $1.2 Billion dollars to import and support terrorists?

I want a refund of my taxes because I do not support this decision to import 25,000 leeches as that is what it will be because TrueDough has to find a place to shelter, feed and clothe them when the land here.

Effing disgusting. I say follow the Americans in this matter. Fix the cause of the refugee crisis, NUKE ISIS and there will be no refugees to talk about, Syria is there home they should stay there.

I hope the Liberal government is reading my post, as a tax paying Canadian this is how I feel and I have a right to express my feelings.

Refugees are not terrorists or leeches. What a disgusting characterization of people in need. — Garth

——————————————————————-

Let’s first ask our government to refund our tax dollars that are used to bomb these leeches/terrorists in their homeland. I am sure once we stop that, there won’t be any coming here for shelter.
It is Us, that have made their homeland insecure for living, by meddling in their affairs and bombing them.

#191 pwn3d on 11.20.15 at 3:00 pm

#180 conservatives spend and waste on 11.20.15 at 2:31 pm
CONs are scum of the earth who spend and waste taxpayers money while selling Canadian assets to their buddies for pennies on the dollar. Anyone who voted CONS hate Canada and Canadians
——————-
Sorry pal, but who is selling Hydro One? Who loaned unions money so they could get more shares at IPO prices?

At least when you have your hands in my pockets have the decency to say thank you. But either way, go [email protected]# yourself.

#192 family beagle on 11.20.15 at 3:09 pm

#114 Ex-Cowtown on 11.20.15 at 1:14 am
The Five Stages of Climate Change Delusion:

My glasses just defogged from being outside this frosty morn and I realized your comment was inflammatory. My bad. You get a freebee: water vapor affects atmospheric temperatures.

#193 Bytor the Snow Dog on 11.20.15 at 3:23 pm

@Bottoms Up

Wow, all the way back to 1880 huh?

#194 bdy sktrn on 11.20.15 at 3:23 pm

even the oracle can’t win them all.

he wins more than he loses, thats enough.
your link quickly led me to a brk hoildings page.
WARREN LOVES COSTCO too!!!!!

i’ve been sniffing for a while, having to plow thru the crowds at all 604 locations for years was trying to tell me something –

just clicked into a slightly larger than appropriate position 163 and change. expensive? damn right.
but the good stuff usually is.

no everyone get out there and shop at your local costco for true value, quality products, cash back, and cheap hot dogs if you are fortunate to have never had an artery jam up. plenty of hot chicks there too;)

#195 Ponzius Pilatus on 11.20.15 at 3:24 pm

The Oracle is loading up on Suncor.
Old trick.
He buys and the herd says : Hey, the oracle is loading up on Suncor share, so I’ll load up too, driving up the stock.
Then he dumps the stock.
Looks like the herd did not watch Trading Places.

#196 Herf on 11.20.15 at 3:34 pm

#172 Bottoms_Up
#177 Ex-Cowtown

It appears U.S. Government agencies NOAA and USHCN (U.S. Historical Climatology Network) have indeed been fudging the data. Even the Australians are questioning the data coming out of NOAA against their own actual experienced temperatures (which have trended to cooler than those reported by NOAA) – see the last link, below.

If it’s reported by government (and the U.N.), it should be regarded with suspicion and questioned, particularly if the the consequence of not doing so will result in more money being taken your pocket and socially engineering the society (which is the M.O. of the Obummer administration and all leftists).

https://stevengoddard.wordpress.com/2015/07/27/mind-blowing-temperature-fraud-at-noaa/

http://www.telegraph.co.uk/comment/11561629/Top-scientists-start-to-examine-fiddled-global-warming-figures.html

http://dailycaller.com/2015/02/20/republicans-to-investigate-climate-data-tampering-by-nasa/

http://dailycaller.com/2015/06/04/noaa-fiddles-with-climate-data-to-erase-the-15-year-global-warming-hiatus/

http://www.foxnews.com/science/2015/06/10/climate-scientists-criticize-government-paper-that-erases-pause-in-warming.html

http://blogs.news.com.au/heraldsun/andrewbolt/index.php/heraldsun/comments/how_did_our_cool_weather_get_logged_as_some_of_the_hottest_ever/

#197 bdy sktrn on 11.20.15 at 3:38 pm

Ask your own inhouse scientist. I will offer that your #1 point is abstract denial.
——————————–
cool, lets start there then.

re #1 – where did this come from? where did it go? did it destroy the earth?

The Laurentide Ice Sheet was a massive sheet of ice that covered millions of square miles, including most of Canada and a large portion of the northern United States, multiple times during Quaternary glacial epochs. It last covered most of northern North America between c. 95,000 and c. 20,000 years before the present day. At times, its southern margin included the modern sites of New York City and Chicago, and then followed quite precisely the present course of the Missouri River up to the northern slopes of the Cypress Hills, beyond which it merged with the Cordilleran Ice Sheet. The ice coverage extended approximately as far south as 38 degrees latitude in the mid-continent.

The maximum extent of glacial ice in the north polar area during the Pleistocene period included the vast Laurentide ice sheet in eastern North America.
This ice sheet was the primary feature of the Pleistocene epoch in North America, commonly referred to as the ice age. It was up to 2 mi (3.2 km) thick in Nunavik, Quebec, Canada but much thinner at its edges where nunataks were common in hilly areas. It created much of the surface geology of southern Canada and the northern United States, leaving behind glacially scoured valleys, moraines, eskers and glacial till. It also caused many changes to the shape, size, and drainage of the Great Lakes.

#198 bdy sktrn on 11.20.15 at 3:42 pm

#191 Ponzius Pilatus on 11.20.15 at 3:24 pm
The Oracle is loading up on Suncor.
Old trick.
He buys and the herd says : Hey, the oracle is loading up on Suncor share, so I’ll load up too, driving up the stock.
Then he dumps the stock.
Looks like the herd did not watch Trading Places.
————————
ha!
but that’s not really his game. more a long term guy.
i got some su recently also – oil’s cheeeeeap – its a multi year hold

#199 David Lee on 11.20.15 at 3:47 pm

http://www.vancouversun.com/news/metro/douglas+todd+immigration+fraud+grand+scale/11532672/story.html

From the article:

In weighing Wang’s contributions to mass tax avoidance, Harris quoted Supreme Court Justice Peter Cory, who maintained the vast majority of Canadians who pay income tax by way of payroll deduction have little or no opportunity for evasion.

“Those who do evade the payment of income tax not only cheat the state of what is owing to it, but inevitably increase the burden placed upon the honest taxpayers. It is ironic that those who evade payment of taxes think nothing of availing themselves of the innumerable services which the state provides by means of taxes collected from others.”

In further justifying Wang’s seven-year sentence, Harris quoted B.C. Appeal Court Justice Sunni Stromberg-Stein, who said those who facilitate illegal migrants into Canada put an “astronomical cost” on the Canadian taxpayer, “fuel racial prejudice and racial tension” and “adversely impact all aspects of Canadian society.”

#200 Maggie the Tech Writer on 11.20.15 at 3:57 pm

Just to counteract some of the grief, bitterness and wallet-licking since the election, here’s a love story from Laurie Anderson, maybe coming to a theatre near you.

https://www.youtube.com/watch?v=8PLWVXICQyM

#201 Ex-Cowtown on 11.20.15 at 3:58 pm

And the hits against this CO2 obsession that world leaders have just keep coming. Basing tax policy, no matter how detailed and clever, on a demonstrably failed idea is a guaranteed loser. Just as the Soviets how it all worked out for them:

http://notrickszone.com/#sthash.NErzfnQa.RxbJTSuy.dpuf

“From the publicly available data, Ewert made an unbelievable discovery: Between the years 2010 and 2012 the data measured since 1881 were altered so that they showed a significant warming, especially after 1950. […] A comparison of the data from 2010 with the data of 2012 shows that NASA-GISS had altered its own datasets so that especially after WWII a clear warming appears – although it never existed.”

Ewert then discovered that NASA having altered the datasets once in March 2012 was not enough. Alterations were made again in August 2012, and yet again in December 2012. For Palma de Majorca: “Now because of the new datasets it has gotten even warmer. Now they show a warming of +0.01202°C per year.”

Using earlier NASA data, globe is in fact cooling

The veteran German journalist Ederer writes that the media reports of ongoing global warming are in fact not based on reality at all, but rather on “the constantly altered temperatures of the earlier decades.” Ederer adds:

Thus the issue of man-made global warming has taken on a whole new meaning: Yes, it is always man-made if the data are adjusted to fit the theory. The meticulous work by Ewert has predecessors, and fits a series of scandals and contradictions that are simply being ignored by the political supporters of man-made climate change.”

So, T2 is off chasing rainbows in Paris with May and Obama. I have no doubt that T2 will sign something, anything and declare climate victory.

The tax bill for this lunacy will fall on us all.

#202 Apocalypse2015 on 11.20.15 at 4:07 pm

#18 Freedom First

You raise an important point about overpopulation, but one few politicians will ever have the guts to address.

Ideally, humans could learn to modify their environmental impact at current populations.

See any sign of that? Nope, me neither.

So long term, population control, directly through government measures or indirectly through war, disease and famine (and they are all coming) presents our most likely scenario.

China is still an appallingly polluted place and far too overpopulated. I was there a few years back and it still amazes me what people put up with there.

So, interestingly, is Canada, in its own way. We are among the very worst on planet Earth when it comes to our destructive environmental impact per capita. One Canadian baby does more harm to the planet than a whole family of Indians, for example. (Plus their food tastes a lot better, not just meat, fat and salt like us)

A sustainable population could be around 3 billion or so, allowing us a couple of hundred years to smarten up.
But we are past double that already.

Unfortunately, we’re probably heading to a scenario where there might only be a few hundred million of us, or less, by the end of this century. War, famine, antibiotic resistance and as yet unforeseen spillovers of obesity, pollution, species extinction and climate change problems will see to that.

From there it will be a crap shoot whether we survive at all.

As Carlin said, the planet’s not going away……we are.

#203 Josh in Calgary on 11.20.15 at 4:21 pm

#178 Chopper on 11.20.15 at 2:22 pm,

You may be free to express your opinion, but you’re absolutely wrong.

The majority (if not all) of these people were perfectly content to live in Syria until a war broke out. Their choice was simple. Stay and die, or risk everything for a small glimmer of hope.

Whether or not Canada should take in 25,000 of them and spend $1.2 billion over 6 years is up for debate. I understand if your opinion is that we should not.

But your post is quite frankly disgusting.

#204 boonerator on 11.20.15 at 4:26 pm

Lots of articles pointing out that Steve Jobs father was a Syrian migrant.
http://www.usatoday.com/story/tech/columnist/baig/2015/11/16/steve-jobs-biological-father-syrian-migrant-some-note/75899450/

Who knows what genius abides and will come out in some of those refugee children who grow up saying “eh”.

#205 Carter Gates on 11.20.15 at 4:45 pm

So much for HOPE……the Trudeau Liberal finance minister crushed all hopes of any Canadian economic improvement 2016 or 17.

Morneau announced there will be no sector investment….I assume he is indicating that all the new debt will be spent on paying back the public service for it’s nine fight against ‘the enemy’.

Will the CBC get a big boost for creating and maintaining the HATE HARPER CAMPAIGN…..lets imagine that will be the case…given the big party thrown after the election by the media and civil service.

With this…the C$ resumed it’s decent towards rupee status.

Interesting the effect of Obama’s backroom campaign advisors. I noted that Morneau actually used the term ‘Lean In’….a phrase ONLY used by the Obama insiders and loyalists. Is Bill Morneau so deeply up the rear of Obama campaign strategists that he’s now parroting the phrases out of the Obama playbook.

It was awesome watching Justin Trudeau turned into a hand puppet yesterday when Obama spoke for Canada saying that ‘both countries will so be signatories to the Obama led TPP) and our PM sitting by and fawning over every dribble.

Having spent a lot of time in the Philippine’s I had to ask myself which promotion company Trudeau’s handlers hired to fill the room with ‘groupies’…since a majority of Filipino’s couldn’t find Canada on the map and no nothing of Justin’s charms.

The Liberals shot callers seem desperate to replicate some kind of deja voo doo ‘Trudeaumania’ in the face of the international press deriding Justin as a man with “Little intellectual heft”. It wouldn’t be the first time someone paid to fill a room…..and cheap in the Phillipines to do that….you bet.

The Trudeau inaugaration at Rideau Hall was embarrassing flop with only staff members and hacks showing up in far fewer numbers than would indicate a ‘mania’ was in the making.

Canada’s coup has created a dismal future for all those unattached to the civil service and special interest groups…..young people should flee….oldsters should follow.

#206 Holy Crap Wheres The Tylenol on 11.20.15 at 4:59 pm

#181 Smoking Man on 11.20.15 at 2:34 pm

#140 Holy Crap Wheres The Tylenol on 11.20.15 at 9:55 am
Canadian Refugee Resettlement Plan Pegged at $1.2-Billion
The cost of the Liberal plan to resettle 25,000 Syrian refugees is pegged at $1.2-billion over the next six years. A government document that lays out the proposed funding model says $876.7-million of that would be needed for this year and 2016 alone.
The federal government has yet to formally reveal the specifics of the plan to meet the Dec 31 target of resettling the 25,000 people. The Liberals only earmarked $100M for refugee resettlement this year.
___________________________________________
Thanks Liberal assholes, I knew this was coming I just didn’t know how quick these clueless liberal bastards would spend our cash on foreign interests. I for one an not interested in spending a single dime on these foreigners. What are they bringing to the table here? Disease, poverty, crime, terrorism, unemployment, we will have to invest tons of cash just to teach them English or French. I know exactly what will happen as soon as they can they will jump at an opportunity to either return home or go to the USA. Like I said you Liberal assholes need spend the money on the real Canadians here that need it first. Our native people are refuges in their own land! I hope you enjoy your photo ops you useless assholes. Nobody give a shit about the native people, f$%king incredible.
………………………..

No end to this insanity…..

Kathleen Wynne unveils new anti-sexual violence ad
8 million for this 15 second commercial.
What do you expect, look how she deals with teachers.

Mean while business that can leave are packing up.

http://www.cbc.ca/news/canada/toronto/ontario-sexual-harassment-summit-1.3326748
____________________________________________
Whats Wynn afraid of somebody groping him!

#207 MF on 11.20.15 at 5:00 pm

#190 calgaryPhantom on 11.20.15 at 2:57 pm

How many refugees are the Saudi’s and Iranians taking in?

Russia?

Last time I checked they were “meddling” as well.

Say didn’t the western powers try to stay out of the conflict in Syria…only to be accused of ignoring the humanitarian disaster there last year?

Didn’t that apathy allow the radical organizations funded by mid east states to fester and the conflict to become more deadly?

MF

MF

#208 Ex-Port on 11.20.15 at 5:06 pm

@ bdy sktrn #182

I don’t know; that company was started by some ex-fuel cell guys, bitter about missing the IPO ride back in the late 90s / early 2000s. I smell vaporware.

Something tells me that fusing hydrogen into helium will require equipment made from something tougher than PVC pipes. Of course, if they actually succeed in fusing hydrogen into helium, they’ll probably vaporize most of the lower mainland.

On the other hand, if it takes off, they might have a solution to the global shortage of helium…

For a cool BC company doing fascinating things, under the radar, look up:

http://www.dwavesys.com

#209 Mark on 11.20.15 at 5:12 pm

“Wow! the oracle is loading up on Suncor, as another poster points out.
Not that the risk in owning individual stocks should be of concern?

Berkshire Hathaway has investments in a number of sectors, so they are somewhat diversified. The Achilles heal of the organization isn’t that they aren’t diversified, but rather, the organization is heavily and probably high-overexposed to the US financial sector and insurance sector. The long-term falling interest rate environment which lavished such extravagant returns on such holders of relatively low-risk fixed income investments held by insurers and banks, is likely to result in significantly diminished returns as rates rise.

I personally get a good chuckle out of the amateurs in the media who proclaim that the financial sector will do better with higher interest rates. Little could be further from the truth, especially since falling rates delivered such a windfall over the past 35 years that extreme excesses in the sector have been created. A good model for the future of FIRE sector returns it to look at returns of the gold mining sector for the past 35 years (the ^XAU index).

#210 Holy Crap Wheres The Tylenol on 11.20.15 at 5:17 pm

#178 Chopper on 11.20.15 at 2:22 pm
This really sucks I have no say in how my tax dollars are spent by the knuckle head Liberals. $1.2 Billion dollars to import and support terrorists?
I want a refund of my taxes because I do not support this decision to import 25,000 leeches as that is what it will be because TrueDough has to find a place to shelter, feed and clothe them when the land here.
Effing disgusting. I say follow the Americans in this matter. Fix the cause of the refugee crisis, NUKE ISIS and there will be no refugees to talk about, Syria is there home they should stay there.
I hope the Liberal government is reading my post, as a tax paying Canadian this is how I feel and I have a right to express my feelings.
…………………………………………………………….
Refugees are not terrorists or leeches. What a disgusting characterization of people in need. — Garth
____________________________________________
No they are not leeches yet! However until fully vetted there may be terrorists hidden in the groups as clandestine diaspora. Like I said before send em all to the freaking Northwest territories. Then see if they have the fortitude to stick it out here. Better yet listen up here JT and you liberal assholes. Lets send all of them to our Native reserves. Perhaps you can spend the money on housing, clothing, feeding and educating the foreigners with our own needy?

#211 SWL1976 on 11.20.15 at 5:17 pm

#197 bdy sktrn – As our in house scientist do you prefer control c, control v when cutting or pasting, or do you prefer to right click?

You still have not really made a point other than that: If we follow this trend of melting ice eventually the Vancouver delta will be under sea water.

I guess now the only variable left to the equation here is time

#212 saskatoon on 11.20.15 at 5:23 pm

#178 Chopper

granted…they probably aren’t ALL terrorists.

but most are def. NO LONGER refugees, and ALL are accepting government “freebies” at the (forced) expense of taxpayers.

#213 old gringo on 11.20.15 at 5:25 pm

OUCH, that hurts.
$38 oil and its still heading down these days.
2016 should be an interesting year.
CDN should follow the oil and commodities also.

#214 april on 11.20.15 at 5:27 pm

Chris Hedges and Truthdig … anyone???

#215 espressobob on 11.20.15 at 5:43 pm

Have to give the Buffett dude some credit. Berkshire Hathaway has roughly 1.39% of the S&P 500. Not too shabby!

Is there something wrong with the other 499 stocks in the largest and most liquid index in the US?

#216 calgaryPhantom on 11.20.15 at 5:49 pm

#190 calgaryPhantom on 11.20.15 at 2:57 pm

How many refugees are the Saudi’s and Iranians taking in?

Russia?

Last time I checked they were “meddling” as well.

Say didn’t the western powers try to stay out of the conflict in Syria…only to be accused of ignoring the humanitarian disaster there last year?

Didn’t that apathy allow the radical organizations funded by mid east states to fester and the conflict to become more deadly?

MF
——————————————————————
If you had any understanding of middle east affairs, you would know saudis are US proxies, in middle east. It is western world’s money/weapons and constant funding of one group or the other, that is creating this mess. For few years they fund one group, with arms and money. Then they decide that group is not “good guys”, and starts funding another group.
By directing funds and weapons to chosen groups, they create imbalance and allow one group to be an oppressor.
Stop funding and arming groups, and local people will take care of the bad guys. Local majority, peaceful people, need a level playing field to overcome oppressors.
But our governments won’t stop meddling and in turn create more unrest not just in middle east but whole world.

#217 Smartalox on 11.20.15 at 5:58 pm

Re: the 25 000 refugees,

The first waves are going to mostly be made up of widows and small children. They don’t really fit the terrorist profile, just like the Canadian Muslim women who are being harassed and abused already.

Once they’re settled, then the older children (teens) and men will come later, once the background checks on their identities and credentials will have been completed. Most men will wait willingly, just knowing that their families and children are somewhere safe.

With millions displaced and hundreds of thousands already in refugee camps, finding the full 25 000 from the ranks of the widowed and the orphaned alone is probably possible.

Ask yourself, are you really THAT scared of old ladies and little kids?

#218 Freedom First on 11.20.15 at 6:00 pm

#162 TnT

The most lonely people I know are married men with children. They learned too late they are nothing but a wallet and nobody cares about them, especially the divorce courts.

Single men are are rarely lonely. Especially guys like me.

#219 46 and 2 on 11.20.15 at 6:05 pm

I was thinking about the whole Syrian refugee “thing” today….the easy answer seems to be….let’s take 25,000 Syrian refugees that are anything but Muslim (Christian, Hindu, JW, Morman…whatever). Problem solved?

#220 Bottoms_Up on 11.20.15 at 6:12 pm

#193 Bytor the Snow Dog on 11.20.15 at 3:23 pm
————————–
The rapidity of the temperature increase is what makes human-induced global warming such an important issue to tackle.

#221 The American on 11.20.15 at 6:20 pm

Tony, that’s cute. The USD topped out this week, you say? Then how come it gained another 0.5% since you last posted your idiotic comment. Dude, you’re just an idiot. Seriously, there’s absolutely zero hope for you.

#222 Bottoms_Up on 11.20.15 at 6:22 pm

#177 Ex-Cowtown on 11.20.15 at 2:18 pm
————————————–
Not my words, but I took them from one of your supposed links of proof of fraud:

Your post is very confusing. You say you are are providing evidence of fraud by both NOAA and NASA, yet the only evidence is a map taken from the NOAA website on the day NASA/GISS released its global data. All this means is that NOAA had only posted THEIR data for half the Earth’s land surface on 17th October, two days prior to their publication. You show no evidence at all for the NASA data only having 50% coverage when it was published.

This looks like carelessness on your part. It also indicates that your followers (including, by extension the denizens of Tallbloke’s Talkshop) aren’t bothered by the possible unreliability of your claims, since they have accepted the truth of what you say without question.

Right, now I’ll sit back and wait to be called a moron, brainwashed or whatever.

#223 Bottoms_Up on 11.20.15 at 6:24 pm

#196 Herf on 11.20.15 at 3:34 pm
————————-
Of course the far right is going to invent whatever story they can leading up to the most important discussions ever regarding global warming.

#224 family beagle on 11.20.15 at 6:25 pm

#203 Josh in Calgary on 11.20.15 at 4:21 pm

Well said.

Greed, consumption, materialism, colonialism, pavement, exploitation, indenture, predjudice, sexism, pollution, liquifaction of resources…

These are the gifts from our queen and country overlords.

I’m willing to take a chance on what a few Syrian refugees can offer. Can’t be worse than the subjugation inflicted since old John A McBoozle.

#225 paul on 11.20.15 at 6:27 pm

#212 saskatoon on 11.20.15 at 5:23 pm

#178 Chopper

granted…they probably aren’t ALL terrorists.

but most are def. NO LONGER refugees, and ALL are accepting government “freebies” at the (forced) expense of taxpayers.
———————————————————-
It’s not forced Justine said he was going to do it ,and make changes for our own good. He received almost 40% of the voters backing.

#226 saskatoon on 11.20.15 at 6:30 pm

#219 46 and 2

11% of americans agree.

#227 DON on 11.20.15 at 6:40 pm

#18 Freedom First on 11.19.15 at 8:08 pm

Income splitting for couples, child care provisions, and all in an age of world overpopulation. People only take a short term view of things. China had it right with a one child policy, but they blew it when they again took an economic perspective. I think it is time that us singles/childless people or couples started getting tax breaks for doing what is best for all of humanity. Look at the air quality in Bejing. That is the future unless the human race changes. And think, it is your kids and grand kids, not mine. Our resources, air, water, land are necessary for our survival. Species are disappearing daily at an alarming rate, and most people are slfish and don’t give a $hit.

Cue the personal attacks on me. I don’t care. I am right.
***********************************

I get your point – but you were a child once, right. Or did you arrive on Earth like SM did.

Maybe we should just follow the concept in the movie Logan’s Run and zap people at a particular age.

#228 bdy sktrn on 11.20.15 at 6:50 pm

I don’t know; that company was started by some ex-fuel cell guys

———————
fuel cell? the 2 founders walked away from CREO (printing)(bby) with 100s? of millions after selling if i recall
don’t know if they briefly dabbled in fuel cells (bby)but if so it was brief as GenH2 (bby)has been at it a while now

dwave (bby) is practically next door. cool stuff , mark learn quantum programming and there is a job for you!

i didn’t see much pvc pipe when i was there. i can confirm it won’t handle 150 million degrees well.

#229 DON on 11.20.15 at 6:51 pm

#218 Freedom First on 11.20.15 at 6:00 pm

#162 TnT

The most lonely people I know are married men with children. They learned too late they are nothing but a wallet and nobody cares about them, especially the divorce courts.

Single men are are rarely lonely. Especially guys like me

*************************
What a load of Bull Sh*t. Of course with some truth. If a man who has kids is feeling lonely, just maybe he should be spending more time with his kids and wife. How hard is this. People need to grow up.

Enjoy your way of life, but not at the expense of another. I am happy for both of you – I was married at 36 and had no problem finding a date either, people can be alone in a crowd.

#230 saskatoon on 11.20.15 at 6:52 pm

#225 paul

taxation ain’t voluntary, buddy!

wake up and smell the force initiation.

#231 Ronaldo on 11.20.15 at 6:55 pm

#218 Freedom First

”The most lonely people I know are married men with children. They learned too late they are nothing but a wallet and nobody cares about them, especially the divorce courts.

Single men are are rarely lonely. Especially guys like me.”

Holy crap Free, you must have been put through some serious stuff to think this way. Wow.

#232 BobC on 11.20.15 at 6:56 pm

#17 Never Give Up

Get off your knees and stand up like a man.

#233 46 and 2 on 11.20.15 at 8:02 pm

Refugees….would it make more sense to work with another country in Europe (?) and help the Syrians by keeping them closer to home but to help with everything that they need in the shorter term instead of bringing them here? If they need food, clothing, shelter, education, heathcare then fine, we will foot the bill on a select number until they can return home.

#234 46 and 2 on 11.20.15 at 8:16 pm

#218 Freedom first, I pretty much agree 100%, #231 Ronaldo’s comment has lack of personal experience written all over it.

#235 Ex-Cowtown on 11.20.15 at 8:16 pm

222 Bottoms_Up on 11.20.15 at 6:22 pm
#177 Ex-Cowtown on 11.20.15 at 2:18 pm
————————————–
Not my words, but I took them from one of your supposed links of proof of fraud:

Your post is very confusing. You say you are are providing evidence of fraud by both NOAA and NASA, yet the only evidence is a map taken from the NOAA website on the day NASA/GISS released its global data. All this means is that NOAA had only posted THEIR data for half the Earth’s land surface on 17th October, two days prior to their publication. You show no evidence at all for the NASA data only having 50% coverage when it was published.

This looks like carelessness on your part. It also indicates that your followers (including, by extension the denizens of Tallbloke’s Talkshop) aren’t bothered by the possible unreliability of your claims, since they have accepted the truth of what you say without question.

Right, now I’ll sit back and wait to be called a moron, brainwashed or whatever.

+++++++++++++++++++++++++++++++++

Using your logic, there should be some minimum dollar value threshold which bankrobbers should be allowed to steal before it is a crime.

Alteration of data sets is a massive red flag in any scientific investigation. It indicates that the data are now unreliable and any inferences or conclusions arising from the data must be discarded.

Bre-X did a similar thing years ago in their fraud. It went like this: The core samples were cut in half length wise to create two separate samples. Bre-X then crushed and processed (read destroyed) both samples to get a “better” number. In mining, or oil and gas for that matter, reference samples and data are ALWAYS kept for future confirmation; you NEVER assume that they were wrong and alter them.

When you see people messing with reference samples and old data, fraud is writ large, especially as in the case of NOAA/GISS when they claimed earlier this year that the original temperature data were “lost”, and only recanted when numerous researchers told them that they had copies of the original unaltered data downloaded off the NOAA/GISS websites years before and could prove data alteration and tampering.

The larger question though is why would someone alter original data? The answer is because it doesn’t support their hypothesis and that literally trillions of dollars a year and the careers of thousands of “researchers” are at stake. OOPS..