The number crunchers

IPAD modified

A slowing US economy means no Fed rate hike in two weeks. That was the consensus of talking econoheads after a jobs report showing less than 40,000 new hires in May. Of course, it could all change by July. Wise people should still expect two increases in 2016.

Huh? Didn’t the Nobel-prize winning macroeconomists who populate the steerage section of this pathetic blog yesterday say this means low rates and high houses for the rest of time? You bet. But they’re wrong. At least you should hope so, because the deceleration of the American economy is the last thing your family – or the value of your real estate – needs.

Anyway, here’s what the gang missed:

The US unemployment rate is now just 4.7%, down a bunch from the April level of 5%. In fact it is substantially less than half the rate we saw after the 2008-9 credit crisis. This addition of over 3 million jobs in the last 18 months is evidence of an economy with legs. Yes, it can slow. No, it won’t stop.

The 4.7% jobless rate, by the way, is a nine-year low. Impressive.

The May number was probably an exaggeration. For example, 35,000 workers at Verizon Communications were on strike during the survey, have now settled and will be added in next month. That almost doubles the reported total. Statistics are funny that way. Math is hard, too.

Of more economic consequence is the fact wages are swelling nicely in the States, even as they stagnate here. Average hourly earnings rose 2.5% year/year, which continues a trend now in place for the last six months. Says RBC Capital Markets economist Tom Porcelli: “Despite the rampant contention that wages (especially for non-supervisory workers) have ‘stagnated’ for decades, the reality is very different. Indeed, the current decade is on pace to be the best for annual real production worker wage growth since at least the mid-1960s (the extent of the data).”

Here’s the chart to prove it. This suggests the recovery is very real:

WAGE GROWTH CHART

This is a trend expected to continue, which portends sustained consumer spending. Jobless claims numbers have been plunging in recent months while ‘quit rates’ are rising. That means it’s far easier to find a job in the States these days, so people are more willing to quit the one they have to pursue a better opportunity. Workers sniffing a recession in the wind don’t do that.

So, there’s more to the headline number than just the headline. Having said that, the pace of rate increases will be modified as the data dictates – as the Fedheads have always made clear. This is why the US dollar tumbled on the news (it had plumped on expectation of an early rate hike), jacking up the loonie by a full 1% and pushing on commodity prices.

Where from here?

More of the same. Toronto house prices advanced 15% year/year in May, while sales set a record (as in Vancouver), and listings dropped. Once again hyped-up demand is chasing dwindling supply, in what has become an increasingly unhealthy and risk-laden market. With just 12,930 listings available in all of the GTA, and 12,870 trades last month, it makes this about the worst time in history to be trying to snare a house.

So, don’t. Buy only if you can afford it, if you’re not committing too much of your net worth to this one asset, and you can sustain the inevitable correction – emotionally as well as financially.

 *     *      *

Well, my new partner broke one of my cardinal rules on Friday and watched BNN. Actually he was on that incestuous network. Actually he co-hosted a two-hour show telling people what ETFs to buy, and exactly where markets are headed. The shame. On Monday he’ll be drinking his java out of Bandit’s mug

Until days ago Ryan Lewenza was Chief Canadian Strategist for the country’s largest independent brokerage firm, Raymond James, after serving a decade at TD Bank’s investment arm. He has now lost his mind and joined Turner Investments as a Partner and co-Portfolio Manager with Doug Rowat, where the two of them will be overseeing the day-to-day management of the balanced and diversified portfolio models that I keep yammering on about. It’s a big deal for clients. They now have two Bay Street rock stars, and one gnarly, rebellious, petrified advisor (but with great abs) to look after them.

Anyway, to see how the kid (he’s 40) did on that awful channel, click here.

RYAN BNN

231 comments ↓

#1 bdwy sktrn on 06.03.16 at 5:52 pm

JIIIIMMMMMMMMYYYYYYY!

#2 gut check on 06.03.16 at 5:55 pm

I have called it.
Today is “Peak Douchebag”
(nothing to do with the blog post)
Here’s why:

http://www.660news.com/2016/06/03/fort-mcmurray-evacuees-say-landlords-jacking-up-rent/

https://www.thestar.com/entertainment/music/2016/06/03/tickets-for-tragically-hip-gone-in-a-flash.html

#3 Wild Albertan gonads on 06.03.16 at 5:59 pm

I’m sure he reads the steerage comment section religiously to keep up on things!

New pic of Gartho at Turner Investments.. Harley biker Gartho with the mean badass financial advisor look.!! lol

#4 Andrew Woburn on 06.03.16 at 6:00 pm

As you might expect the world’s biggest solar PV manufacturer is in China. But where’s the headquarters of the world’s second ranking solar PV company…. California? Germany?

How about Guelph, Ontario.

Don’t believe it? You’re clearly a true Canadian. Nothing here is or ever will be world class, eh?

OK. Meet Canadian Solar (NASDAQ-CSIQ).

“According to research and consulting firm GlobalData, the Top 5 solar PV manufacturers in 2015 were China’s Trina Solar with 4.55 Gigawatts (GW) of solar PV panels produced, followed by Canadian Solar (3.9 GW), Chinese companies JinkoSolar Holding Co., Ltd. (3.79 GW) and JA Solar Holdings Co., Ltd. (3.38 GW), with South Korea’s Hanwha Q CELLS Co., Ltd. (3.2 GW) rounding out the Top 5.”

The cherry on the cupcake is that the company was founded by Dr. Shawn Qu, a Chinese immigrant who finished his education in Manitoba and at U. of T. He founded his multi-billion dollar company in 2001. Silicon Valley was built by immigrants and so is Canadian industry.

Is he truly Canadian? Of course. He takes self-effacement to the max and describes himself as a “boring engineer”. Fits right in. But you have to wonder what is the point of the Order of Canada if they haven’t already included a guy like this.

#5 bdwy sktrn on 06.03.16 at 6:04 pm

record high temps for the wknd in 604.

i hear the salt water calling. gonna be warm enough to swim and dive for the dock chain i lost over the winter.

#6 ROCK BEATS PAPER on 06.03.16 at 6:08 pm

Can’t spin this one Garth.

It was horrendous with negative revisions for prior months. The bond market had it right all along with a relentlessly flattening yield curve (ie. the FED is too tight!).

The unemployment should actually rise if workers sniff a strong labour market and join the hunt for a new job, as they no longer feel discouraged.

Thank God the rest of the world is strong.

4.7% headline, that was funny, what with a the MASSIVE drop in the labour force participation (minus almost 500K).

Egg on the face of various Fed officials, and the market does not have the odds of an increase at greater than 50% until November.

I hope that was the trough for the US, because we are all pooched if the unemployment numbers really do turn out to be a lagging number.

#7 MoneyDriven on 06.03.16 at 6:20 pm

I’ve been reading financial blog daily!!! oh no I thought it was battle of boomers versus millennial!!

Happy Friday Garth

#8 S.Bby on 06.03.16 at 6:21 pm

Does Janet Yellen read this blog?

#9 ROTFL on 06.03.16 at 6:25 pm

Yeah, US U6 (unemployed+underemployed+part time because things suck) has now dropped to about the level it PEAKED at in the previous recession. US housing starts have now risen to about the level they BOTTOMED at in the previous recession. US corporate earnings are in a recession. The Fed needs to raise rates to put out the fire!

If the Fed raises twice this year, it’ll probably go down as its biggest policy blunder of the first half of this century. China will devalue, exporting more deflation, and President Trump probably won’t be creating a second incarnation of the WPA. Remember when the US long bond paid 3%? Those were the days.

#10 Steerage Bilge on 06.03.16 at 6:28 pm

Nice plug from the new partner for the crazy pathetic blog! But of course it is in the steerage section where the wisdom and action is truly found. We’re famous now.

Those are 5 pretty obvious lessons…. But anyways, most people are nuts and don’t do any of that. So yeah.

#11 Steerage Bilge on 06.03.16 at 6:29 pm

#1 bdwy sktrn on 06.03.16 at 5:52 pm

JIIIIMMMMMMMMYYYYYYY!

OMG.. Jimmy.. the humiliation.. shown how it is done by a jimmy sock puppet

#12 common sense on 06.03.16 at 6:33 pm

Once again Mr. Turner with all due respect, if even ONE raise happens it will be suprising and the 4.7% jobs number is also highly manipulated.

WALLY OF THE MIDWEST..THE USA ECONOMY IS NOT BOOMING…The roosters are coming home to roost!

#13 ww1 on 06.03.16 at 6:38 pm

Last week, Herb asked : “just let me know when she answers the question: http://www.greaterfool.ca/2016/05/20/chutzpah-2/#comment-449925

She answered that question today.

http://www.millennial-revolution.com/invest/how-we-got-here-part-4-the-bearded-one/

From the comments section :

dontcallmeshirley June 3, 2016 at 12:34 pm “Please clarify — your investment earnings occurring in 2012, 2013, and 2014 were $17k + $55k + $53k = $125k. Implying the balance of your $1M net worth, $875k, was saved income. Is that correct?”

FIRECracker June 3, 2016 at 1:18 pm “Correct.”

#14 Smartalox on 06.03.16 at 6:38 pm

@ Black Dog (from yesterday),

The Missus is a US citizen, born in Edmonton to US parents – like Ted Cruz, but in that way only.

We’ve filed her taxes for years, despite the IRS more arcane rules, (how much money did you have in your accounts on Dec 31? And on Dec 31 of the last 10 years?) and lament the fact that she still can’t have a TFSA (but the USD denominated un-registered account has been returning nicely, thank you very much).

She’s never (yet) had to pay US income taxes, but has instead benefitted from some US Government ‘stimulus’ checks that were sent out a few years back (spent in the US).

She also has a US passport, as well as a Canadian one. Came in handy when we were travelling to Egypt back in 2010. We made sure she kept a copy of our marriage license in her US passport, and kept it close at all times.

We missed the ‘revolution’ there by a few months, but our plan was that if the place went to hell while we were visiting, our hotel was less than 2 miles from the US embassy, a quick call to her cousin at State, and an airlift out to London, instead of the Canadians’ (unreachable) 1-800 number, and full voicemail box (which is actually what happened when the revolution hit in 2011).

The US has its quirks, but as the man says ‘Membership has its privileges’.

#15 Mocha on 06.03.16 at 6:45 pm

A group of trump supporters were attacked by protesters at a rally in San Jose. The police chose to stand by and not intervene. I’ll leave it to the reader to look up the pathetic excuse given for their inaction. Apparently a child was among those attacked. I expect little-to-no condemnation of this from the legacy media. And they wonder why trump’s support continues to grow…

#16 Brazil ex-pat on 06.03.16 at 6:46 pm

“The 4.7% jobless rate, by the way, is a nine-year low. Impressive.”

This is of course if you believe this impressively phony number. There are lies. Dam lies. And Govt numbers….

#17 Millenial on 06.03.16 at 6:47 pm

Wage growth?
http://www.pewresearch.org/fact-tank/2016/05/31/oil-and-gas-boom-feeds-greatest-real-wage-growth-in-u-s-but-will-it-last/

#18 Randy on 06.03.16 at 6:47 pm

The ShadowStats Alternate Unemployment Rate for the U.S. for April 2016 is 22.9%.

http://www.shadowstats.com/alternate_data/unemployment-charts

#19 Brazil ex-pat on 06.03.16 at 6:48 pm

#5 bdwy sktrn on 06.03.16 at 6:04 pm
record high temps for the wknd in 604.

i hear the salt water calling. gonna be warm enough to swim and dive for the dock chain i lost over the winter.

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

Ummmm…..it was 15 degrees and raining for the last two weeks in 604….funny how the Climatards never report that…..

#20 jay on 06.03.16 at 6:52 pm

Australia heading for housing crash. http://www.9news.com.au/national/2016/06/03/14/49/australias-property-boom-headed-for-dramatic-and-destablising-end-reports-oecd

#21 Randy on 06.03.16 at 6:58 pm

Over 500,000 left the work force and 38,000 jobs created. The U.S. unemplyment rate is at Great Depression Levels. Public Assistance at Record Levels. Sub 3% Growth rates for Obama’s whole Term. Vote for Hillary….bahahaha.

#22 mitzerboy aka queencitykid on 06.03.16 at 7:03 pm

garth

u r goin 2 go to whatever heaven u want
for puttin out
this free no nonsense money info …. you’ll c

#23 Steerage Bilge on 06.03.16 at 7:03 pm

“Didn’t the Nobel-prize winning macroeconomists who populate the steerage section of this pathetic blog yesterday say this means low rates and high houses for the rest of time? You bet. But they’re wrong.”

Blatant shots at the steerage section.. jeez…without us this blog is nothing..:)….. face it no one has a clue…neither you, yellen, or the steerage section….. that wage chart is a pile of manure….no way the Trumptrain would be having such a ride if everything were so rosy in the states. I visit lots and think the US is rocking, but step off the main path a bit and folks are still struggle with stagnant wages and way too many service jobs.

June is now out
July – Brexit could churn markets up – who knows
Then the Billary/trump circus ride is gonna be hilarious and crazy

The whole thing is just nuts to have taken so long to raise rate a 1/4 point!!… holy crap… .. oh well I keep making money .. been a very good ride since January with a bunch of purchases at the last hiccup where people bailed needlessly.

oh well party on.

#24 AK on 06.03.16 at 7:05 pm

“They now have two Bay Street rock stars, and one gnarly, rebellious, petrified advisor (but with great abs) to look after them.”
====================================
Does this mean that we may be seeing you as a guest on Market Call and Market Call tonight??

Nope. BNN banned me. — Garth

#25 crowdedelevatorfartz on 06.03.16 at 7:13 pm

Garth.
Any concerns about the EU/global market effects from a pro “Brexit” vote in the British referendum fast approaching?

#26 Unionized Teacher on 06.03.16 at 7:14 pm

#204 Lead Paint, previous blog post: i was talking about blockchain when I said, why not rely on known trusted parties who are regulated. You responded with an answer related to bitcoin; you do not understand that there is a big difference between cryptocurrencies and blockchain: the former needs a mechanism to deal with double-spending, the latter does not. I would love to explain to you the various crypto techniques available to detect and prevent double-spending, but it is clear you do not understand even basic cryptography, let alone public-key crypto and how it fits into one-way hashing. My god, you probably cannot even tell the definition of a prime number. You are exactly the kind of greater fool that Garth keeps talking about here. The tragedy is that you keep insisting, but all your counterarguments are deadwrong in that they do not even address the issues I set forth. I suspect you are also one of those fools who bought a house in the past several years because you firmly believe that prices will keep going up forever, even though you have no expertise whatsoever that can support your belief and the only reason you spout that belief is because you heard others say it. Anyway, I rest my case. The cryptocurrency communities we have today are a sad bunch of speculating losers. It is a hallmark of a megabubble.

#27 Newbie on 06.03.16 at 7:17 pm

It’s not just that the 65 years old, 900 sqf Richmond Hill bungalow has been sold for $1.43 mln after being listed for $899,000, a Brampton realtor says that they” have turned offers away that were astronomical for the value of the area. That’s a hard decision. The need and the greed of the seller factors in.”

#28 Metaxa on 06.03.16 at 7:20 pm

@ 184 Ponzius Pilatus
Hope President Trump gets rid of the FED.
Most useless institution on the planet.

I would suppose its more likely to be the other way around.
If he does become Pres and if he does start stepping out of bounds regarding those who truly control what happens down there I suspect we will shortly find out how his hair is really attached.

Unless the autopsy report is classified, eh?

#29 Southburnabygardener on 06.03.16 at 7:22 pm

One reason home-owners are reluctant to sell is that there are almost zero rentals currently available. We are looking for a condo/townhouse to rent in the Highgate/city-in-the-park areas and there are ZERO listings for June or July. Only rentals in the area are one Br, 60 + year old houses, bsmnt suites, one apartment 20 meters from the skytrain, or 50 + year old apartments. That is it. Zip, nothing ! So we have a pile of cash to invest and no where to live come the fall. Don’t suggest moving farther out, my spouse has to have a safe cycling route to work and I need to be close to the expo line for my commute to work.

#30 Smoking Man on 06.03.16 at 7:23 pm

#1 bdwy sktrn on 06.03.16 at 5:52 pm
JIIIIMMMMMMMMYYYYYYY
……..
Best First Ever.

Garth I’m sure Ryan Lewenza is a great PM? but can you please explain what he’s going to do with that lip stick in his right hand.

Ryan follow the great Smoking Man. I talk to aliens.
………

Gut Check re your post.

It’s human nature. Now do you understand why humans are not allowed to travel beyond the moon.
Savages every last one.

#31 For those about to flop... on 06.03.16 at 7:24 pm

On Monday my good blog buddy Boom and me were shooting the shit and he bought up the fact that one of his friends went in for surgery and never came back.

He then followed it up with a joke about jerks living longer or words to that affect.

I thought this green lighted a comment from me to say that Mark will live to be one hundred and ten then.
His response in his next post seemed to suggest that he did not get the joke and I was insulting his friend.

Anyway I have not posted this week, no doubt to a couple of people’s delight as I was told by the Barbaric Cultural Commission to serve a five day suspension as this is my third offence since I’ve been on this blog.

I’ve had a hard week at work helping out Chinese specuvestors ,but I won’t comment further on that as I am not ready to serve my forth suspension so soon.

Boom, I did not mean to disrespect your friend ,may he rest in peace and I hope we can still be blog buddies.

Can we at least agree that Marks a jerk?

Flopper.

M41BC

#32 Balmuto on 06.03.16 at 7:25 pm

CAD govt 5 year yield, the benchmark for fixed rate mortgages in this country lost another 0.08% today to yield a paltry 0.60%. The bond market is clearly not doing its bit to prick the housing bubble.

#33 Smoking Man on 06.03.16 at 7:27 pm

Nope. BNN banned me. — Garth

Told you to work on that girly voice.

#34 IHCTD9 on 06.03.16 at 7:30 pm

#4 Woburn on 06.03.16 at 6:00 pm

As you might expect the world’s biggest solar PV manufacturer is in China. But where’s the headquarters of the world’s second ranking solar PV company…. California? Germany?

How about Guelph, Ontario.

Don’t believe it? You’re clearly a true Canadian. Nothing here is or ever will be world class, eh?

——–

Where the headquarters are means squat, it’s the meat and potatoes that count.

Canadian Solar:

500 employees in Canada

8000 employees in China

Talk to Wynne if you’d like to reverse this trend, welcome to Ontario; and good luck…

#35 family beagle on 06.03.16 at 7:35 pm

At least you should hope so, because the deceleration of the American economy is the last thing your family – or the value of your real estate – needs.
Agreed. Concerns me more than interest rates. A general US consumer malaise does not bode well for 604 asset values. Godspeed to Mdme Christy doing the foreign investor hoochie dance.

current decade is on pace to be the best for annual real production worker wage growth since at least the mid-1960s
Thank you minimum wage fairy.

I’ll bookmark your promo vid for after Carol Burnett reruns. (That’s a good time slot.)

#36 TurnerNation on 06.03.16 at 7:35 pm

I’d already noted blog dog Ryan’s punchy updates in Advisor Analyst site daily email compendium.

#37 Smoking Man on 06.03.16 at 7:36 pm

#26 Unionized Teacher on 06.03.16 at 7:14 pm
#204 Lead Paint, previous blog post: i was talking about blockchain when I said, why not rely on known trusted parties who are regulated. You responded with an answer related to bitcoin; you do not understand that there is a big difference between cryptocurrencies and blockchain: the former needs a mechanism to deal with double-spending, the latter does not. I would love to explain to you the various crypto techniques available to detect and prevent double-spending, but it is clear you do not understand even basic cryptography, let alone public-key crypto and how it fits into one-way hashing. My god, you probably cannot even tell the definition of a prime number. You are exactly the kind of greater fool that Garth keeps talking about here. The tragedy is that you keep insisting, but all your counterarguments are deadwrong in that they do not even address the issues I set forth. I suspect you are also one of those fools who bought a house in the past several years because you firmly believe that prices will keep going up forever, even though you have no expertise whatsoever that can support your belief and the only reason you spout that belief is because you heard others say it. Anyway, I rest my case. The cryptocurrency communities we have today are a sad bunch of speculating losers. It is a hallmark of a megabubble.

Start typing like a human. How about some sentence gaps.

Christ I even know how to do that. Obviously you don’t teach English.

You one of those teachers that are involved in curtural mind fking of our youth.

Great minds want to know.

Dr Smoking Man

#38 nonplused on 06.03.16 at 7:41 pm

Garth, the problem with the headline employment numbers (as well as the headline inflation numbers) is that they both exclude a lot of people or things. I will agree they are still indicative of trends, you can get a feeling of the “trend” in employment by looking at the headline unemployment rate. However, anyone who’s employment insurance has run out is not counted and there are a lot of people who would like a job but haven’t found one and aren’t counted in the headline number. The unemployment rate will probably have to be below 4% for 5 years before all the disaffected workers who aren’t counted are back to work.

Still, the trend is good news and the indicator is useful so long as you know what it means. More people are working in the US sure, but it will be a while before the real unemployment rate is actually whatever they are advertising.

#39 Gregor in Guelph on 06.03.16 at 7:46 pm

Weak try, Garth.

The U.S. data is HORRIBLE and everyone knows it.

The drop in labor participation is ominous, and the real elephant in the room.

The U.S. is toppling into a recession then depression.

No more rate hikes, for years.

Real estate in Canada remains a great investment for at least another decade and rates will remain affordable.

#40 Pulp Faction on 06.03.16 at 7:49 pm

Congratulations on the heavyweight new hire !

#41 Randy on 06.03.16 at 7:50 pm

U.S Companies are still selling assets to buy back shares. Tell me more about this wonderful recovery. The economy has flat-lined. Another round of QE can’t be far away, although it has never really stopped. Obama has destroyed the U.S Economy. Have a great Weekend.

#42 The Wack on 06.03.16 at 7:51 pm

There is a rental crisis from Chilliwack to Vancouver!
Either there’s a lot of empty houses with owners unwilling to be landlords (don’t blame them) or a hell of a lot of people moving out of their moms bsmts!
Not a fun time if ones a renter, can’t build those beautiful Garth hating condos fast enough! Lol

#43 Brian on 06.03.16 at 7:54 pm

Sorry but, Canada is full. At least in the desirable places.

#44 Ronaldo on 06.03.16 at 7:54 pm

#31 For those about to flop… on 06.03.16 at 7:24 pm

Have you and Boom ever considered opening up a Skype account so that you can chitter chatter back and forth til the cows come home? It’s not like the rest of us are at all interested in some of the b.s. that goes on between the two of you. It does get a bit monotonous after a while you know. That way you wouldn’t have to be concerned about been deleted or banned from this forum. Just a thought.

#45 Ex-Cowtown on 06.03.16 at 7:55 pm

US unemployment at 4.7%? Technically yes, if you don’t count the 94 million people who gave up looking for work or are out of the workforce permanently. In 2007 (prior to the Great Recession) this number was 77 million. This works out to 22% increase in people who have basically given up looking for work or have fallen off the radar because they ran out of benefits.

http://www.tradingeconomics.com/united-states/labor-force-participation-rate

You know as well as I do that if the 4.7% number was legit the US economy would be on screamin’ away on steroids and oil would be back at $100/bbl. To put it into perspective, Alberta’s unemployment rate was slightly under 5% during the height of the oil boom. The US is not even remotely close to those nose-bleed levels of economic output.

http://www.esdc.gc.ca/eng/jobs/lmi/publications/bulletins/ab/jul2013.shtml

Interest rates low for longer? Yeah. One look at MFC on the TSX tells you what investors really think. MFC is extremely interest rate sensitive and bumped a bit on the expectation of higher rates. It crapped out again today. Say what you like, low rates are here for a while. I don’t care either way, but there it is.

#46 MF on 06.03.16 at 7:56 pm

Trump supporters have eggs and rocks thrown at them. Police look on.

Typical mob mentality for bully “progressives”. Sort of reminds me of the behaviour i witnessed at York U during that BS “apartheid week”. Or during the G20 with the “black bloc”.

Trump’s popularity just keeps growing as more and more people realize the “progressive” left movement is garbage.

MF

#47 JP on 06.03.16 at 7:56 pm

US Rake hikes are coming, this is a one time thing because of Verizon strike as Garth mentioned and due to the layoffs at IBM.

http://www.eweek.com/it-management/ibm-layoffs-continue-as-transformation-rages-on.html

#48 Ogopogo on 06.03.16 at 7:58 pm

I was in Calgary this past week on a business trip and saw at least 8 for sale signs in the street alone where we were staying. The anxiety and downright panic of desperate morttgage owners (a.k.a. “homeowners”) is palpable in that gods-forsaken tarsands pit. There is an eery vibe in the city, like the proverbial calm before the storm, but more like the deer in the headlights watching the oncoming collision yet unable to move.

It’s hard to believe as recently as just over a year ago you’d see arrogant Calgarians here an on the G&M and Financial Post comment boards proudly affirming that real estate would never go down. It’s amazing how humbled people can be by facts beyond their control.

I’ve heard fools and greater fools in Kelowna behaving exactly like those cowboys. The recent FOMO-driven uptick in sales is causing the wretched gaggle of realtors here to boast. Notice that our resident clown-realtor Devil’s Advocate has been trolling the board again lately? It’s a symptom of this uptick, which hasn’t actually moved many of the homes that have been sitting unsold and unwanted for months or even years. Only the desperately priced are selling right now, despite DA’s blatant lies.

Nothing changes in the mind of a realtor or a bubble denier. It is why we continue to mock them. It is why they enjoy a social status just a notch above brothel janitor.

Happy weekend dawgs (& trolls too).

#49 Lee on 06.03.16 at 8:00 pm

As I’ve said before, average sfh in Toronto by end of year will be $2,000,000. Seven whole months to go.

#50 Love My Kia on 06.03.16 at 8:02 pm

Garth, have you considered branching out your company?

There is literally no fee based advisers for 500 miles from the city I live in with 120,000 population. I don’t think there are many of you advisers operating out there at all.

Turner Investments is national. — Garth

#51 Smoking Man on 06.03.16 at 8:02 pm

Humanity is truly fkd and slow to adapt.

Today like yesterday, kids in school are rewarded for the ability to memorize and regurgitate on demand. More of an exercise of compliance training. Obidiance.

Hello. You fks ever heard of Google.
Key word selection is in vogue.

You can learn to make millions, start revolutions, hell, enough nakedness you never need to be married to have some fun. Snap Chat. Tinder.

Why do schools even exist. Look at what’s coming out of that pathetic asshole. Bernie groupies.

Where are lessons of buy low, sell high and get rich.

Nowhere.

#52 Andrew Woburn on 06.03.16 at 8:04 pm

Three takes on blockchain technology.

—- “New technology such as artificial intelligence and blockchain will utterly shake up the fundamental principles of banking, challenging the entire industry according to former Barclays chief Antony Jenkins.

He believes the innovation in finance could eliminate the need for maturity transformation – the process by which short-term deposits, such as current accounts and instant access savings, fund long-term loans including mortgages.”

http://www.telegraph.co.uk/business/2016/06/02/core-of-banking-could-be-destroyed-by-blockchain-says-barclays-f/

—- “Shares could eventually be traded almost instantly without the costly safety net of clearing houses by using the blockchain, the building blocks of Bitcoin, although the technology remains at an early stage, a European Union watchdog has said.

As financial firms race to stake their territory in new uses for blockchain, the European Securities and Markets Authority has called a consultation on how this development could affect the world’s markets.

Blockchain is based on the idea of a “distributed ledger”, which traces transactions across an entire network of traders and creates a tamper-proof record that is both stored and accessed by the participants.”

http://www.telegraph.co.uk/business/2016/06/02/instant-share-trading-may-be-on-the-horizon-through-blockchain-s/

—- “Mt. Gox is officially filing for bankruptcy protection with an outstanding debt of ¥6.5bn ($63.6m), finally admitting openly that 750,000 of its customers’ bitcoins and 100,000 of the company’s own have been lost.

It’s been a nightmare week for Mt. Gox and its customers, with much of the situation’s true nature still mired in online speculation, rumor and conspiracy theories. The exact fate of all Mt. Gox customers’ bitcoins is still unclear: how such an amount came to be lost or stolen without anyone knowing or taking action, whether ‘transaction malleability’ was indeed behind it, or whether they were transferred to other addresses or lost to the bitcoin network altogether.”

http://www.coindesk.com/mt-gox-files-bankruptcy-claims-63-6m-debt/

“Tamper-proof” must have a different meaning in Euro-speak.

#53 MF on 06.03.16 at 8:09 pm

Fed should have raised years ago. We’ve heard how “great” the economy was for years. Why didnt they?

Because it’s becoming clear the FED is clueless and they know it.

The illusion of recovery to try and make Obama (one of the worst presidents ever) look good.

Stock market manipulation?

MF

#54 Lead Paint on 06.03.16 at 8:15 pm

#26 Unionized Teacher on 06.03.16 at 7:14 pm

This is nothing but ad hominem attacks and silly misrepresentations of my comments.

You’ve made an outrageous claim that Bitcoin and/or blockchains are ponzi schemes – please provide some sort of credible or logic evidence to support that claim. You are misleading (and attacking) people, but have provided nothing to support your wild claim.

Here is my question to you:

If blockchains are open source and distributed, how can one party manipulate or control them to their benefit, as in a ponzi scheme, or other scam?

If you can answer this question succinctly I’m happy to engage with you further. Otherwise you’ll have to troll with someone else.

If you’re saying that they can be volatile, like a commodity, or like real estate, then yes, I agree with that. But that is not a ponzi scheme, just a risky investment with potentially high and downsides, which is widely recognized.

And no, I don’t own real estate.

M43ON

#55 Brian Ripley on 06.03.16 at 8:15 pm

“Math is hard,” too. Garth

My Compare Vancouver to Toronto housing chart is up:

http://www.chpc.biz/compare-toronto–vancouver.html

Both cities can claim a hat trick in pricing (SFDs, T-Houses & Condos all posted new record high prices)

Notice the absorption rate in Toronto (approaching 100%). If you put a sign on it, someone will appear and buy it… the price is irrelevant … every listing can sell if no one does the math.

#56 Smoking Man on 06.03.16 at 8:21 pm

Wow Senica Salemca is hosting a country singer tonight.

Trailer trash galore. If I went with sex drive over JD It would be easy pickings.

Lucky for me I always make the right call.

#57 jay on 06.03.16 at 8:24 pm

This speech was given by Bob Rennie.Pay particular attention to number 3 in in the article . http://vancouversun.com/business/real-estate/brace-for-more-housing-shortages-warns-vancouver-real-estate-guru-bob-rennie

#58 crowdedelevatorfartz on 06.03.16 at 8:27 pm

@#31 For those about to flop.

Actually I thoght your comment about Mark living til 110 was pretty funny.
While I dont think it was necessary…..Big of you to apologize.

#59 The Great Gazoo on 06.03.16 at 8:30 pm

“The 4.7% jobless rate, by the way, is a nine-year low. Impressive.”

Unfortunately it dropped because nearly half a million people dropped out of the workforce, see link to WSJ article.

http://www.wsj.com/articles/u-s-added-only-38-000-jobs-in-may-1464957215

Key excerpt:

“Nearly half a million people dropped out of the workforce last month, dragging down the share of Americans participating in the labor force by 0.2 percentage point to 62.6%. “

#60 Jimdog on 06.03.16 at 8:35 pm

Buried in the US jobs data is that jobs openings hit an all-time high: http://data.bls.gov/timeseries/JTS00000000JOL

I’m still not betting against US.

#61 S.Bby on 06.03.16 at 8:37 pm

#29 Southburnabygardener

What about this place?
$1850 / 2br – 1015ft2 – 2 bedrooms townhome (Burnaby)

http://vancouver.craigslist.ca/bnc/apa/5618442286.html

There is no shortage of affordable rentals in South Burnaby or New Westminster.

#62 common sense on 06.03.16 at 8:38 pm

# 24 AK

Garth..glad BNN banned you as I know you wouldn’t want to be a member of any “club that would have you.”

Plus when the S$%^ hits the fan you want to be as far as you can away from there.

#63 Houser Dude on 06.03.16 at 8:56 pm

“Of course, it could all change by July. Wise people should still expect two increases in 2016.” – Garth

——————————————————–

True, if you replace “wise” with “stupid”. “Gullible” works equally well.

#64 common sense on 06.03.16 at 9:00 pm

#31 Flopette

We’re not perfect, especially here on line….

I know your sincere…

#65 Mr. Obvious on 06.03.16 at 9:01 pm

“So, don’t. Buy only if you can afford it, if you’re not committing too much of your net worth to this one asset, and you can sustain the inevitable correction – emotionally as well as financially.” – Garth

——————————————————

Now it’s a correction. Other times you claim a slow melt.

#66 Jimmy on 06.03.16 at 9:12 pm

Nice work #1.

I’m First when it matters.

Too beautiful today to worry about being first when I know I already am. Chillaxing with the ladies on the patio while you slaves are still working.

#67 Toothless Measures on 06.03.16 at 9:22 pm

Whenever a definitive statement like a fed increase in June is posted here, its time to bet the opposite.

Peak housing? Nah, markets are still on fire and with no interest rate increase for the futures, things will keep going. Heard peak housing in 2012, 2013, 2014, 2015.

Fed increase in June and July? Nah, that pesky wobbly US recovery just doesn’t want to gain traction. Its a catch 22 with rates, rising consumer debt, and the recession watch. The siren of rising rates has called since 2009/10, but emergency rates just won’t bite.

The much anticipated 4 rate increases this year has been walked down to 2, and now it has been literally walked down to none with June and July off the table. That is zero for 2016.

Rate normalization needs to see interest rates double. A piddly .25% increase last year, none this year, and a few more in the next few years will not impact anyone.

Do the math. If you rent for 10 years and prices continue to go up and then fall back down, eventually the equity equation beats the rent equation. Layer on a low return environment for balanced portfolios, and its pretty much a no brainer to follow the herd on this one.

Sorry, but if there are no rate increase this summer, then the advice of sitting on the sidelines for a few years and renting while waiting for rate normalization will be moot.

Silly, dangerous one-size-fits-all advice. The housing market epitomizes risk and all comments like yours do is lure in the naive and unprepared because ‘it always goes up.’ Highly irresponsible. — Garth

#68 Shirley valentine on 06.03.16 at 9:25 pm

#50 Smoking Man on 06.03.16 at 8:21 pm
Wow Senica Salemca is hosting a country singer tonight.

Trailer trash galore. If I went with sex drive over JD It would be easy pickings.

Lucky for me I always make the right call.

xoxoxo

Smokey alien babe. Hanging with the trailer trash. Yikes. This isn’t good. I see you took a helluva forex hit. Good job you have billions and a studly set to weather the beating. More importantly when does the book tour start so I get to ride the spaceship? Party on.

#69 Smoking Man on 06.03.16 at 9:25 pm

Gut check.
My gut is saying your pissed at the great one. Not sure what turned you off to my mission.

No other blog dog has the power to influence me than you. You did a great thing for my soul.

That thing you mailed me. You have no idea how touching that was.

I’m an artist like you. Your amazing I’m an armature. But you have touched a soft part in my blind heart, please for God sakes tell me where I lost you.

I can’t find it on Google.

#70 Kilt on 06.03.16 at 9:25 pm

Why don’t you guys start your own fund or a series of them. Kind of like the O’leary fund without the O’leary. Your logic on investing makes sense and a good many people are only looking for 6-8% a year with low to medium risk.
Side note – what do you think of the triple top in the Dow.

Kilt.

#71 For those about to flop... on 06.03.16 at 9:26 pm

#44 Ronaldo on 06.03.16 at 7:54 pm
#31 For those about to flop… on 06.03.16 at 7:24 pm

Have you and Boom ever considered opening up a Skype account so that you can chitter chatter back and forth til the cows come home? It’s not like the rest of us are at all interested in some of the b.s. that goes on between the two of you. It does get a bit monotonous after a while you know. That way you wouldn’t have to be concerned about been deleted or banned from this forum. Just a thought.

/////////////////////////

Actually the bulk off the stuff we talk about is to do with U.S politics and and finance.
Occasionally we get off track, but if we followed your rule there would only be five people left here.

Ronaldo,you taught me one thing today though…all my life Woody Woodpecker was the only pecker I knew….now I know two…

M41BC

#72 southburnabygardener on 06.03.16 at 9:29 pm

#61 S.Bby
That listing is for a unit on Kingsway. So very noisy, small and dark. You are wrong about the lack of listings. I have been monitoring them for a year.

#73 For those about to flop... on 06.03.16 at 9:34 pm

Forget Audi’s…..the go to car of the elite female on the west side of Vancouver is a white Land Rover.

M41BC

#74 acdel on 06.03.16 at 9:35 pm

U.S. unemployment rate at 4.7%, ha,ha,ha,ha, who are they trying to kid?
Not a big fan of Trump but I do respect (somewhat) his honesty. He said the American economy is a disaster and I believe him, after the election the truth will come out.

#75 family beagle on 06.03.16 at 9:38 pm

#35 “I’ll bookmark your promo vid for after Carol Burnett reruns. (That’s a good time slot.)”

Errata: I should say “a coveted time slot.” No sarcasm intended at all.

#76 Smoking Man on 06.03.16 at 9:44 pm

#68 Shirley valentine on 06.03.16 at 9:25 pm
#50 Smoking Man on 06.03.16 at 8:21 pm
Wow Senica Salemca is hosting a country singer tonight.

Trailer trash galore. If I went with sex drive over JD It would be easy pickings.

Lucky for me I always make the right call.

xoxoxo

Smokey alien babe. Hanging with the trailer trash. Yikes. This isn’t good. I see you took a helluva forex hit. Good job you have billions and a studly set to weather the beating. More importantly when does the book tour start so I get to ride the spaceship? Party on.
….

Sorry Sherly. I can’t finish the book without gut check. She is amazing. She Can turn words into amazing pictures. Where I turn amazing pictures into words but spelling sucks. Deslexia I’m thinking.

No ride on the space ship yet.

I need her to lie to me some more. Your a great writer.

#77 Paul on 06.03.16 at 9:50 pm

#72
Monitoring listings for a year no obcestion here

#78 southburnabygardener on 06.03.16 at 9:54 pm

#72 Paul, obcestion? What does that mean?

#79 Smoking Man on 06.03.16 at 10:23 pm

Valintine: just had a trailer park chic flash some pocodot undies in my face. Her eye balls like a laser beams into mine looking for a sign.

My eyes, cross eyed editing chapter 12.

House horny chics is what I’m thinking.

#80 JP on 06.03.16 at 10:25 pm

#73
Audi, Bmw and Benz are for Surrey’s nouveau riche. Only Range Rovers, Porsches and Bentleys for Vancouver and Richmond elites ;)

#81 For those about to flop... on 06.03.16 at 10:30 pm

I’m at the the Awesome stage.
Just substitute the motorbike for a campervan…

M41BC

http://imgur.com/93ALUza

#82 For those about to flop... on 06.03.16 at 10:35 pm

Here’s something serious for Ronaldo to look at as well…

M41BC

http://imgur.com/yBvyjaY

#83 BillyBob on 06.03.16 at 10:38 pm

#44 Ronaldo on 06.03.16 at 7:54 pm
#31 For those about to flop… on 06.03.16 at 7:24 pm

Have you and Boom ever considered opening up a Skype account so that you can chitter chatter back and forth til the cows come home? It’s not like the rest of us are at all interested in some of the b.s. that goes on between the two of you. It does get a bit monotonous after a while you know. That way you wouldn’t have to be concerned about been deleted or banned from this forum. Just a thought.

/////////////////////////

Actually the bulk off the stuff we talk about is to do with U.S politics and and finance.
Occasionally we get off track, but if we followed your rule there would only be five people left here.

Ronaldo,you taught me one thing today though…all my life Woody Woodpecker was the only pecker I knew….now I know two…

M41BC

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

Ronaldo wasn’t trying to impose a rule, as he said – quite mildly – just a thought. But as usual some smarmy comeback from our resident Antipodean loudmouth.

Having only five contributors wouldn’t be the worst thing in the world, if they had something relevant to add.

A little less quantity, a little more quality is all a few are asking.

#84 Love my Kia on 06.03.16 at 10:51 pm

arth, have you considered branching out your company?

There is literally no fee based advisers for 500 miles from the city I live in with 120,000 population. I don’t think there are many of you advisers operating out there at all.

Turner Investments is national. — Garth
================

Locations?

This is 2016. Everywhere. — Garth

#85 Love my Kia on 06.03.16 at 11:01 pm

Garth, have you considered branching out your company?

There is literally no fee based advisers for 500 miles from the city I live in with 120,000 population. I don’t think there are many of you advisers operating out there at all.

Turner Investments is national. — Garth
================

Locations?

This is 2016. Everywhere. — Garth
=======================
Wow, for territory manager, you got a big one!

#86 Tony on 06.03.16 at 11:03 pm

Re: #2 gut check on 06.03.16 at 5:55 pm

Rents are in a free-fall in Fort McMurray and you couldn’t give a house away for free there.

#87 Herb on 06.03.16 at 11:05 pm

#13 ww1,

saw it and did the math.

Credit where credit is due: it was their $893,414 in saved earnings over the years, not the $125,000 investment returns, that got them to their million.

#88 For those about to flop... on 06.03.16 at 11:06 pm

#83 BillyBob on 06.03.16 at 10:38 pm
#44 Ronaldo on 06.03.16 at 7:54 pm
#31 For those about to flop… on 06.03.16 at 7:24 pm

Have you and Boom ever considered opening up a Skype account so that you can chitter chatter back and forth til the cows come home? It’s not like the rest of us are at all interested in some of the b.s. that goes on between the two of you. It does get a bit monotonous after a while you know. That way you wouldn’t have to be concerned about been deleted or banned from this forum. Just a thought.

/////////////////////////

Actually the bulk off the stuff we talk about is to do with U.S politics and and finance.
Occasionally we get off track, but if we followed your rule there would only be five people left here.

Ronaldo,you taught me one thing today though…all my life Woody Woodpecker was the only pecker I knew….now I know two…

M41BC

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

Ronaldo wasn’t trying to impose a rule, as he said – quite mildly – just a thought. But as usual some smarmy comeback from our resident Antipodean loudmouth.

Having only five contributors wouldn’t be the worst thing in the world, if they had something relevant to add.

A little less quantity, a little more quality is all a few are asking.

/////////////////////////////

How’d I know you’d stick your head in here.

Big deal ,so some Australians kicked your ass a couple of times at work.

What does this have to do with me?

I’m guilty by passport association?

Qantas is the safest airline on the planet,maybe you should have done more listening and less talking…

M41BC

#89 Shirley Valentine on 06.03.16 at 11:07 pm

#79 Smoking Man on 06.03.16 at 10:23 pm

Valintine: just had a trailer park chic flash some pocodot undies in my face. Her eye balls like a laser beams into mine looking for a sign.

My eyes, cross eyed editing chapter 12.

House horny chics is what I’m thinking.
xxxxxxxxxxxx

Mrs. Smoking Man needs to chain you up! An alien beast unleashed. Good job you are dedicated writer!

#90 Tony on 06.03.16 at 11:08 pm

Re: #8 S.Bby on 06.03.16 at 6:21 pm

No, the FED and bankers all read zero hedge. All you have to do is state you stumbled onto day trading patterns that will make everyone a fortune. Knowing full well they read it give them a spiel then do the opposite and double-cross them. That’s what I did and sure enough the FED and bankers changed all their patterns.

#91 Toronto Dweller on 06.03.16 at 11:13 pm

So the game is rigged and we’re following Japan into low interest and low growth rate territory, spending money like drunken sailors and leaving the bill for the grandkids. Great time to speculate, and enjoy that hedonistic streak I guess.

#92 Tiger1960 on 06.03.16 at 11:13 pm

71#
Add smoking goof to your list!

#93 not 1st on 06.03.16 at 11:13 pm

#60 Jimdog on 06.03.16 at 8:35 pm

Buried in the US jobs data is that jobs openings hit an all-time high: I’m still not betting against US.

——

Yeah dude, nobody is trained for those. Thats why they sit vacant. And people cant afford to take another six figures in debt to retrain for them. Such is the geniuses running the economy.

#94 Toronto Dweller on 06.03.16 at 11:15 pm

Me thinks is to become an investor/shareholder in one of those automation companies such as Boston Dynamics as robots will be taking over in the next decade or so. It was a good run folks.

#95 Tony on 06.03.16 at 11:16 pm

#67 Toothless Measures on 06.03.16 at 9:22 pm

Whenever a definitive statement like a fed increase in June is posted here, its time to bet the opposite.

Just do the opposite of what MarketWatch states each and every trading day. About 2 out of 3 times the opposite happens each trading day or all their great advice after the market close the day before.

#96 not 1st on 06.03.16 at 11:16 pm

We need a crowd source funding drive to buy Garth a ticket to the next trump rally. Then he will find out whats going on in the economy. Send Smoking Man along for good measure.

#97 For those about to flop... on 06.03.16 at 11:25 pm

Also Billybob, Ronaldo chirp me…I chirped him back ,but 3 minutes before your post I have him something interesting to look at as a peace offering.

Not too sure why me being a dual citizen is of any of your concern…the most important thing as far as the Canadian government is concerned is that I pay my Canadian taxes.

Which I do…and something you don’t…

M41BC

#98 ww1 on 06.03.16 at 11:28 pm

#87 Herb on 06.03.16 at 11:05 pm

saw it and did the math.

Credit where credit is due: it was their $893,414 in saved earnings over the years, not the $125,000 investment returns, that got them to their million.

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

The blog dawgs got into a feeding frenzy about their posts – both the original posts from a couple of years ago and the most recent ones from last month.

Somehow the dawgs seemed obsessed that those two got to a million bucks with some small random savings and some huge investment gains. Something that FIRECracker and Wanderer never claimed.

I’m more interested in how someone who has socked away $1M++ can hope to never having to work again for life. And I think that is the essence of what they have been trying to tell us if we will only listen.

Back in the ’60s, Jed Clampet moved to “the hills of Beverly” in one of the most popular sitcoms of the time. All based on him being a “millionaire”. Me .. I just want one of those “cement ponds”.

#99 Smoking Man on 06.03.16 at 11:31 pm

When panic sets in.

One cig left in the pack

#100 BOOM! on 06.03.16 at 11:42 pm

#31 Flopper…

The comment…? What comment? Something about only the good go young, that’s the rumor anyway. My friend wasn’t so ‘good’ but, his candle burned down quick anyway. As for Mark, well living to 116 would be cool -if HE wants that. As for me, not so much.

I figure cremation is my last shot at a “HOT, SMOKING BODY.” …but, not quite yet…

Another boring week on the markets.
We need something to scare the snot out of timid investors so stocks fall 15-25% in a short time frame. Prices are getting a bit ‘rich’ and I need to find a great Vultch opportunity.

Had dinner out at the Dells, at our favorite open patio restaurant overlooking lake Delton, with Kathy who retired about the same time I did. Over dinner Jeff her hubby commented on an article about the high number of Americans who couldn’t meet a $1,000 expense without borrowing, or selling something. I was shocked, so were they. We both keep that much, or more stashed around the house, or in our checkbooks. Could that report have been anywhere near accurate? I have my doubts…

#101 Give us this Blog our daily Garth on 06.03.16 at 11:42 pm

Janet, raise those rates .50% come June 15th.

Jobs still increased, and unemployment is very low. Don’t wait for every single american to get a job… what they need is rates to go up, so they can one day get out of debt. RETURN TO NORMAL ALREADY!!! Besides, wouldn’t it be fun to watch Trudeau and Morneau squirm?

#102 Bobby13 on 06.03.16 at 11:45 pm

Garth you need to do some research on the 4.7 number as this in reality is pure fiction. When the U.S. starts to admit or whisper about a recession they will be in a depression.

#103 ronh on 06.03.16 at 11:51 pm

some reading if you are bored

http://www.zerohedge.com/news/2016-06-03/vancouver-real-estate-mania

#104 Harold Hedd on 06.03.16 at 11:53 pm

US recovery is a farce and Obama is the most incompetent enemy Canada has ever had.

“I agree with Mason that the Republicans have generally been hopeless, destructive boobs, but that doesn’t give Obama a free pass for effectively quadrupling the money supply under the spurious cover of “quantitative easing,” and maintaining minimal interest rates by selling trillions of dollars of unbought bonds to the Federal Reserve, a 100 per cent subsidiary of the Treasury, “paid for” by the issuance of notes.”

So how did we let the Americans beat us so badly when all Obama was doing was flooding the world wih worthless unpaid for paper?

http://news.nationalpost.com/full-comment/conrad-black-obama-will-be-neck-and-neck-with-g-w-bush-as-the-most-incompetent-u-s-president-of-our-time

Not only did American orgs fund Canadian protesters, but we let ourselves be hoodwinked by the biggest idiot of all time. That doesn’t say a lot about ourselves.

http://business.financialpost.com/financial-post-magazine/how-canada-was-outplayed-by-america-in-the-race-to-become-an-energy-superpower

And now there’s talk of Trudeau willing to take Australia’s ‘refugee’s for the sake of another ‘selfie’? We’re screwed with Junior at the helm. I’ve already left, what the hell is keeping you in the cross hairs of this zany Trudeau Liberal trainwreck?

#105 BOOM! on 06.03.16 at 11:57 pm

Garth got banned from BNN? Good, shows you have higher quality. (We knew that anyway).

Do people actually pay attention to the stuff discussed there?

Flopper- No need to apologize. For what? Giving your opinion? Never worry about giving an opinion to me. I am harder to insult than smoking man, and he is pretty tough to get the better of around here.

Cheers!

#106 TurnerNation on 06.03.16 at 11:57 pm

Today we all are JIMMY.

#notfirst

A seminal moment in blog dog lore. A literal sophist once said…
Ersarz blog dogs riding the gossamer thin light fantastic. Tripping over mnemonics.

Heading to the Least Coast now.
(Bay St. = Stay St. I’ll return.)

#107 Unionized Teacher on 06.04.16 at 12:00 am

#54 Lead Paint: there are several gaping problems with Bitcoin. One of the biggest is that an individual can engage in an automated manner on a bitcoin exchange in thousands of bitcoin buy and sell transactions with himself, using different accounts, and in doing so driving up the price. If you do some googling, you will see that this happened a few years ago; it is how price of bitcoins went up to 1200 dollars. Also, if you don’t like the ponzu and pyramid scheme comparison, how about pump-and-dump; this is what th vast majority of Bitcoin owners are engaged in. Last but not least, the biggest flaw with bitcoin and all the altcoins is that validates can pool their computing power to achieve more than 50%, or that new parties enter that achieve dominance; a party, or group of parties, with more than half of the computing power going into validation can corrupt the entire system, whether it is the crypto currency itself or a blockchain application.

#108 Ronaldo on 06.04.16 at 12:03 am

#83 BillyBob on 06.03.16 at 10:38 pm

I think we may have hit a noive.

#109 BillyBob on 06.04.16 at 12:08 am

#83 BillyBob on 06.03.16 at 10:38 pm
#44 Ronaldo on 06.03.16 at 7:54 pm
#31 For those about to flop… on 06.03.16 at 7:24 pm

/////////////////////////////

How’d I know you’d stick your head in here.

Big deal ,so some Australians kicked your ass a couple of times at work.

What does this have to do with me?

I’m guilty by passport association?

Qantas is the safest airline on the planet,maybe you should have done more listening and less talking…

M41BC

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

Now now. Don’t be so sensitive. The closest thing to having an Aussie inflict pain on me was having to endure that nails-on-chalkboard Strine accent. At least it’s not audible in print.

Qantas the safest airline? Well, I suppose that’s possible when you employ tactics such as, after running a B747 off the runway in Bangkok, you absorb the cost of repairing the massive damage instead of writing it off to avoid having it be statistically counted for what it was – a complete hull loss! lol

Also easier for QF to be “safe” these days, what with many fewer flights and Emirates absolutely eating their lunch internationally, not to mention bending them over with a forced partnership. Go to PER, MEL, ADL, SYD, BNE – it’s all Emirates, all the time. Just sayin’- wouldn’t exactly be lifting up Qantas as a symbol of national pride. Only Air Canada’s protectionism postpones their same fate.

Not guilty by passport, just guilty of perpetuating a stereotype. The Ozztranauts at EK are the running joke for being know-it-all twits with a firm grasp of the inconsequential. I was just amused at the consistency. Since apparently off-topic comments are welcome, I remarked on it.

And all of this, for only asking for a bit of relief from your sparkling wit now and then. Ah well.

#110 drydock on 06.04.16 at 12:12 am

#54 Lead Paint on 06.03.16 at 8:15 pm

0101010101010101010101010101010101

http://www.coindesk.com/mt-gox-files-bankruptcy-claims-63-6m-debt/

#111 TraderJoe on 06.04.16 at 12:17 am

Garth, you say that chart _proves_ that there is real wage growth. Can you show what the chart would look like if it had included the 1960’s?? You quote Porcelli who says 1960’s but then the chart clearly fails to show the 1960’s. Could it be because it would make the last three decades of growth look stagnant?

#112 Brazil ex-pat on 06.04.16 at 12:27 am

#73 For those about to flop… on 06.03.16 at 9:34 pm
Forget Audi’s…..the go to car of the elite female on the west side of Vancouver is a white Land Rover.

M41BC
++++++++++++++++++++++++++++++++

Nope. The $150K Mercedes G-Wagon. Gotta show everyone how rich you are you know…..

#113 a queston for garth on 06.04.16 at 12:46 am

What is happening to all the 35,000+ new condos in the pipeline in toronto.
Are they all sold now ??

#114 Love My Kia on 06.04.16 at 12:56 am

Map of state economic output compared to foreign countries.

http://mentalfloss.com/article/78993/how-does-your-states-economic-output-compare-foreign-countries

Output of Texas is equal to Canada’s, and New Hampshire is equal to Syria.

Since the title of the blog is ‘number crunchers’….

#115 No Canada, No on 06.04.16 at 1:25 am

No so fast with rising rates.

https://twitter.com/MktOutperform/status/738727070558130176/photo/1

#116 For those about to flop... on 06.04.16 at 1:37 am

#80 JP on 06.03.16 at 10:25 pm
#73
Audi, Bmw and Benz are for Surrey’s nouveau riche. Only Range Rovers, Porsches and Bentleys for Vancouver and Richmond elites ;)

///////////////////////////////////

Hey JP,yeah I made a mistake but it sounds like you knew what I was getting at.
Seeing lots of white Range Rovers not Land Rovers.

I am ESL.
I speak three languages
Australian
English
Satire…

M41BC

#117 Mark M. on 06.04.16 at 2:38 am

JP – “US Rake hikes are coming, this is a one time thing because of Verizon strike as Garth mentioned and due to the layoffs at IBM.”

Hey JP, what was the reason in January, March, April, June, July, September, and November of 2015, and January, March, and April 2016? Verizon strike? IBM layoffs? Bad weather?

There will be NO rate hikes in 2016, and once again the “geniuses” in the “steerage section” of this blog will beat the “economists” at the Fed.

#118 Joe2.0 on 06.04.16 at 2:40 am

Things aren’t that good anywhere.
If they were they would quit printing money and start raising interest rates..,
Banks are inflating the economy making everything more expensive.
That’s the true barometer.

#119 fishman on 06.04.16 at 2:49 am

How about a report from Rennie’s birthday party today. A little vicarious pleasure for all the blog dogs that didn’t have the luck to be in an industry, in a city, in a country, in a time that only malicious addictions combined with low IQ, could churn out a losers.

The Digs: A condo so clean&shiny& classy, so perfect. Minimal but not minimalist. Every piece placed where it always belonged. Took the kid along to give him a “taste” of why I’ve been driving him so hard all these years. His comment on leaving”I feel like I’ve just been in a movie.”
The Guests: Born in East Van 60 years ago & 40 years in the biz. People dislike Bob for what they think he represents. If you meet him he makes it his priority that you like him & by & large he succeeds. I’m guessing at 200 went through in 3 hours. Maybe more. A small but still majority of white older males. A large minority of all the rest.
The Ambience: Very smooth, relaxed, a sense of contentment that all’s right with the world when surrounded by the “well off”. Nobody wants anything from you & even if they do, you won’t notice what they take, & it won’t matter anyways.
The Conversation: I Dunno: Whats to say that Bob didn’t already say in his speech yesterday & was on the front page of the Sun today? Everyone will read it & no one will pay any attention nor act on his recommendations, especially the politicians. The rich will carry on their merry way & the poor would like to get in on the act , but haven’t the money.
By the way everyone was well behaved: it was a dry party.

#120 unbalanced on 06.04.16 at 4:30 am

35,000 on strike at Verizon. Settle contract. How can they be added as new jobs? Were they all fired? Next month they get added as new jobs. The gov can and will fudge the numbers anyway it sees fit. Go figure. Its pretty hard to figure out this stuff.

#121 Barry good on 06.04.16 at 5:35 am

Garth: America is in a bubble too. Their median house price now exceeds the inflation adjusted peak it hit in 2007. The average home in San Fran goes for about $2 million Cdn. There is also a ton of house flipping. The Shiller PE sits at 26.5, right around where it was before the 2008 financial crisis. It has only exceeded 25 9% of the time since 1880. Margin debt is at record highs relative to gdp. There will not be a correctionin Canada until the global real estate and stock bubbles burst which is coming sooner rather than later.

#122 Self Directed on 06.04.16 at 6:18 am

Vancouver Housing Mania spills farther east.

I sold my detached house in 604 back in January. Recently, my old neighbour contacted me through email… here is a direct quote:

” I talked to my banker today and he said Canada might put up interest rates only a quarter of a percent. If I were you I’d buy in Mission right now because if you wait to long you’ll never own a house again .”

My Price to Rent Ratio is around 50. I’m busy building out my investment portfolio. I won’t even bother talking about investments with him… he would think I’m crazy. He’s a nice guy, just following the herd.

#123 bigrider on 06.04.16 at 6:59 am

I hate to say it Garth ( actually I don’t ,kinda enjoying it) but I told you so on the whole 905 verses 416 thing ,whereby I have been saying for a long time that 905 would appreciate at a rate far greater than 416. Check previous posts past several years. At least that’s what Treb , BNN and CFTO news was reporting all day yesterday.

Where in 905 you ask. Yup, check my previous posts, think where Yonge St. 407 and Hwy 7 all intersect and a small ,reasonable radius out from there.

#124 OffshoreObserver on 06.04.16 at 7:21 am

The rot started here, but it has spread to all democracies.

That is why I am an ex-pat!

https://www.youtube.com/watch?v=UTMxfAkxfQ0

#125 AK on 06.04.16 at 7:46 am

#66 Jimmy on 06.03.16 at 9:12 pm Nice work #1.

“I’m First when it matters.

Too beautiful today to worry about being first when I know I already am. Chillaxing with the ladies on the patio while you slaves are still working”.
====================================

Indeed. But you still took time away from the ladies, and you managed to post. You are addicted, Jimmy…

#126 Sean on 06.04.16 at 8:02 am

Nope. BNN banned me. — Garth

———–

Too chipper? Or was it the havoc wrought with anchorettes Catherine Murray and… umm.. Frances Horodelski throwing their panties at you?

#127 Ronaldo on 06.04.16 at 9:39 am

Hey flopper, just to let you know that I didn’t mean to be rude towards you or Boom. Had just returned from a neighbors funeral. Gone at 58. I guess I just went into ‘flop overload’. You seem like a very nice person but it’s just as BillyBob said, only asking for relief from your sparkling wit. Anyway, it’s not my place to tell anyone what and what not to post. Just making a point was all. Oh yes, Woody was one of my favorite cartoon characters. Goofy, not so much. Have a nice day. Got a long trip ahead of me.

#128 For those about flop... on 06.04.16 at 10:00 am

#109 BillyBob on 06.04.16 at 12:08 am
#83 BillyBob on 06.03.16 at 10:38 pm
#44 Ronaldo on 06.03.16 at 7:54 pm
#31 For those about to flop… on 06.03.16 at 7:24 pm

/////////////////////////////

How’d I know you’d stick your head in here.

Big deal ,so some Australians kicked your ass a couple of times at work.

What does this have to do with me?

I’m guilty by passport association?

Qantas is the safest airline on the planet,maybe you should have done more listening and less talking…

M41BC

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

Now now. Don’t be so sensitive. The closest thing to having an Aussie inflict pain on me was having to endure that nails-on-chalkboard Strine accent. At least it’s not audible in print.

Qantas the safest airline? Well, I suppose that’s possible when you employ tactics such as, after running a B747 off the runway in Bangkok, you absorb the cost of repairing the massive damage instead of writing it off to avoid having it be statistically counted for what it was – a complete hull loss! lol

Also easier for QF to be “safe” these days, what with many fewer flights and Emirates absolutely eating their lunch internationally, not to mention bending them over with a forced partnership. Go to PER, MEL, ADL, SYD, BNE – it’s all Emirates, all the time. Just sayin’- wouldn’t exactly be lifting up Qantas as a symbol of national pride. Only Air Canada’s protectionism postpones their same fate.

Not guilty by passport, just guilty of perpetuating a stereotype. The Ozztranauts at EK are the running joke for being know-it-all twits with a firm grasp of the inconsequential. I was just amused at the consistency. Since apparently off-topic comments are welcome, I remarked on it.

And all of this, for only asking for a bit of relief from your sparkling wit now and then. Ah well.

///////////////////////////////

Hopefully you get transferred to Malaysian Airlines and go missing…

M41BC

#129 BOOM! on 06.04.16 at 10:00 am

… And another one bites the dust.

Funeral back in the old hometown. this time the old neighbor across the street from our store. She was 102 a long full delightful life, and loved by dam near everybody!

Will be good to see her family again, and many long lost hometown people.

Haven’t spent much time there in the last 45 years.

Ah, yes the relentless march of that dam clock! Boomers next on deck…

#130 economictsunami on 06.04.16 at 10:08 am

Not really much of a recovery once you factor in the length and cost of the life support.

Then, just as the patient remains frail, you slowly remove the very things that barely keep it alive.

Just what the doctor ordered…

Friday’s dismal economic data has people fearing a US recession

“Since 1960, when payroll growth has dipped persistently below its recovery-period average, the US economy has more often than not found itself in an NBER-defined recession 9 to 18 months in the future,” said Barclays.
“Hence, that payroll growth has fallen below the current expansion average in three of the past four months signals to us that risks of a near- to medium-term recession have risen.”

http://www.businessinsider.com/people-fearing-us-recession-2016-6

The Simple Reason The Fed Is Entirely Dow-Dependent Rather Than Data-Dependent

https://www.thefelderreport.com/2016/06/01/the-simple-reason-the-fed-is-entirely-dow-dependent-rather-than-data-dependent/

From the founder of the Discovery Channel for those who enjoy documentaries:

Curiosity Stream

https://curiositystream.com/international

#131 Marcus on 06.04.16 at 10:11 am

Unemployment at 4.7%!!!! Woo Hoo!!!!! If we have another 10 million drop out of the Labor force and make it an even 100 million not working but not counted then the unemployment rate will be under 3%!! Way to go!!!!!!!

#132 For those about flop... on 06.04.16 at 10:13 am

#127 Ronaldo on 06.04.16 at 9:39 am
Hey flopper, just to let you know that I didn’t mean to be rude towards you or Boom. Had just returned from a neighbors funeral. Gone at 58. I guess I just went into ‘flop overload’. You seem like a very nice person but it’s just as BillyBob said, only asking for relief from your sparkling wit. Anyway, it’s not my place to tell anyone what and what not to post. Just making a point was all. Oh yes, Woody was one of my favorite cartoon characters. Goofy, not so much. Have a nice day. Got a long trip ahead of me.

/////////////////////////

We’re all good ,I’m only hamming it up.

I don’t expect everyone to like what I post, but I try to keep things entertaining.

Garth does the occasional chirp but basically we have to entertain each other and try to keep things interesting.

I know some people on this blog are more serious than others but the reason I come here is for financial advice with a huge dollop of humour.

As for the people that complain about people posting too much, the only time it annoys me is when they post the same stuff,over and over like “Sales Mix Sally” and “Here ,have another chart Victoria”

Dunno where your going ,but have a good time…

M41BC

#133 humpback wailers on 06.04.16 at 10:21 am

Garth…that’s a lot of gray hair for 46…..did he get that after signing on with you lot?

Yeah. Jet black on Thursday morning. — Garth

#134 For those about to flop... on 06.04.16 at 10:28 am

#127 Ronaldo on 06.04.16 at 9:39 am
Hey flopper, just to let you know that I didn’t mean to be rude towards you or Boom. Had just returned from a neighbors funeral. Gone at 58. I guess I just went into ‘flop overload’. You seem like a very nice person but it’s just as BillyBob said, only asking for relief from your sparkling wit. Anyway, it’s not my place to tell anyone what and what not to post. Just making a point was all. Oh yes, Woody was one of my favorite cartoon characters. Goofy, not so much. Have a nice day. Got a long trip ahead of me.

/////////////////////////

We’re all good ,I’m only hamming it up.

I don’t expect everyone to like what I post, but I try to keep things entertaining.

Garth does the occasional chirp but basically we have to entertain each other and try to keep things interesting.

I know some people on this blog are more serious than others but the reason I come here is for financial advice with a huge dollop of humour.

As for the people that complain about people posting too much, the only time it annoys me is when they post the same stuff,over and over like “Sales Mix Sally” and “Here ,have another chart Victoria”

Dunno where your going ,but have a good time…

M41BC

#135 Sideshow Rob on 06.04.16 at 10:30 am

Those fed buffoons have been pie holing rate increases for 5 years. We have had one measly quarter point hike. After a drop of 6 percent. And people still believe in those chicken entrail reading soothsayers… just incredible. To any rational thinking person they have no credibility. Zero. None. There will be no rate increases until the market forces it at the exact moment the fed doesn’t want it. Then watch the hissy fit.

#136 the Jaguar on 06.04.16 at 10:38 am

Garth…did you sleep in today? Some blog dogs need to be banned. M41BC is imploding. Hardly a surprise. Billy Bob is right about Australian accents. I have to run away whenever one comes in audio range.

#137 Andrew Woburn on 06.04.16 at 11:08 am

#34 IHCTD9 on 06.03.16 at 7:30 pm

Where the headquarters are means squat, it’s the meat and potatoes that count.

Canadian Solar:
500 employees in Canada
8000 employees in China
======================

Sounds pretty much like Apple. Those offshore assembly jobs don’t have much of a future. In global business it’s where the brains are that matters. Though I’ll agree that keeping brains in Ontar-iar-ario isn’t going to get any easier.

#138 brad on 06.04.16 at 11:21 am

Turner investments? Is that the reason for the blog? I always thought you were giving helpful hints and scaring us away from housing for the last 8 years which cost many of us a huge bump in equity. Wake up peeps…it’s an investment blog…not a housing blog.

It’s a blog you can come to for free assistance. or not. Your choice. It’s also a place of complete and full disclosure. Deal with it. — Garth

#139 WalMark of Sadkatoon on 06.04.16 at 11:25 am

US at full employment. nothing to see here. everybody who wants to work is working

#140 Neil M on 06.04.16 at 11:26 am

House that I am renting in White Rock $1600(upper level 3bed) the owner purchased for $675,000 three years ago. listed this week for $1,400,000 in that time the market has doubled in certain areas around Vancouver and people will be lined up here for the open house. This is insane, and now rental units are starting to equalize in price, )3-4000 for a month is not doable for an average blue collar Canadian family. Watching closely last week for a potential rate hike to cool this thing but delay, delay, delay.

#141 WalMark of Sadkatoon on 06.04.16 at 11:26 am

Had just returned from a neighbors funeral. Gone at 58.

that’s brutal. RIP. what happened?

#142 WUL on 06.04.16 at 11:27 am

Hon. Financial Potentate, M.P., P.C.:

Just a shout out to all of the volunteers from all over North America that have scurried up here to Fort McMurray to ease the return of its inhabitants. It is a marvel. I am working at a welcome centre where citizens come for Red Cross aid, food, water, cleanup kits, utility reconnection, diapers, etc.

Hats off to the Oklahomans who undertook a 48 hour bus ride and will do whatever is asked of them including the removal of refrigerators from homes if you need that help.

Kudos to the corporate interests and their employees who are busting their asses to assist.

Also, and Google these folks, Team Rubicon, started by 6 former US Marines, is here to offer their non-profit skills and expertise in performing the risky jobs of sifting through the rubble to help people recover valuables and heirlooms. Team Rubicon has been established in the UK and Australia and now a Canadian Chapter has been born.

We live in a wonderful world and wonderful people abound.

#143 Smoking Man on 06.04.16 at 11:50 am

It’s boating season…yeah

#144 For those about to flop... on 06.04.16 at 12:02 pm

#136 the Jaguar on 06.04.16 at 10:38 am
Garth…did you sleep in today? Some blog dogs need to be banned. M41BC is imploding. Hardly a surprise. Billy Bob is right about Australian accents. I have to run away whenever one comes in audio range.

/////////////////////////////////

Yeah I met a stupid Canadian once…does that mean we are all stupid?

Billybob has been bashing Australians for a while and since he found out I was once one has taken out his anger on me.

People joke about a teacher doing something to Smoking Man ,I think Billybob got locked in the plane toilet by some of my countrymen.

For the record I have not been to Australia this century and my accent has softened a lot.

Jaguar,you want me banned…for what?

What a stupid pussy…

M41BC

#145 Metaxa on 06.04.16 at 12:09 pm

#96 Not 1st writes:

We need a crowd source funding drive to buy Garth a ticket to the next trump rally. Then he will find out whats going on in the economy. Send Smoking Man along for good measure.

But they might end up pepper sprayed being foreigners and all…

#146 Mark M. on 06.04.16 at 12:22 pm

WalMark – “US at full employment. nothing to see here. everybody who wants to work is working”

So then FOUR hikes this year? Just like Garth and the “experts” said in December.

Who looks at the US economy, after trillions in QE and 8 years of ZIRP and thinks 0.8% GDP and the lowest labour force participation rate in 40 years is “BOOMING” and at “full employment?”

We have heard Garth parrot the Fed and the cheerleaders at CNBC for years about this “recovery.” Yet interest rates remain at historic lows, GDP growth is anemic even if you believe the official numbers, and voters are turning to Trump and Sanders because everything is so great they want a complete 180 degree change?

Please, enough already. Nobody believes it anymore. There is no recovery, just another Fed induced bubble the “smart people” at the Federal Reserve can’t see coming, just like the one they couldn’t see coming in 2008.

So, to summarize, US is headed to recession, a much worse disaster than the one in ’08 is right around the corner. There will be no further rate hikes of any significance, and by the end of the year they will be LOWERING rates, and QE 4 will return.

This is not what I want. I want a free market to set interest rates, not central planners. In my scenario, they would never have been at 0%.

#147 crowdedelevatorfartz on 06.04.16 at 12:50 pm

Hmmmm.
Perhaps I should invest in Paper Shreddring manufacturers…….

http://www.theglobeandmail.com/news/national/no-action-taken-on-vancouvers-new-coast-realty-complainants-report/article30279257/

#148 TurnerNation on 06.04.16 at 12:57 pm

A few on here are breathless and like: Gartho Gartho haven’t you seen the double/triple/quadruple/quintuple top of the Dow. No confirmation yet but I’ll be the first to jump into bear den.

Meanwhile in past 1.5 weeks we see good bullish moves in defensive plays like CP Rail. Natural gas, Coffee, Wheat, and Steel (I know. I just trade it) ETFs.

There’s always a bull market somewhere.

#149 Westernman on 06.04.16 at 1:00 pm

Garth, Garth, Garth… (shaking my head)
SURELY you don’t below employment stats from official government sources do you? Really?
God lord man, you were in government once – surely you know better than that…
I mean after all, government wouldn’t lie to make themselves look better, would they?

#150 crowdedelevatorfartz on 06.04.16 at 1:06 pm

@#138 brad
How long have you been visiting/ reading this blog?

What part of the big red “Award” ( Top Canadian Financial Blog) next to top of this blog did you not understand?

Its not a conspiracy. There’s no ulterior motives. Just sound FINANCIAL advice. Like ‘dont put all your finances into one thing….a la real estate….

yeesh.

#151 aizlynne on 06.04.16 at 1:12 pm

Garth, come on with those bogus employment stats. Even foolhardy talking heads at MSCBC finally admitted it was only because 690,000 people dropped off the work force stats that pushed the number. Actual unemployment rate is around 29%. You politicians, always trying to paint a turd and sell it as gold.

#152 crowdedelevatorfartz on 06.04.16 at 1:26 pm

ahhhhhhh 23c at 10:30 am in Burnaby.
Not a puff of wind or cloud in the sky.

Time for a bike ride…… :)

Yo Brazil Expat!
Hows the zika eradication progressing in the favelas?

#153 Life among the stars on 06.04.16 at 1:39 pm

It’s a blog you can come to for free assistance. or not. Your choice. It’s also a place of complete and full disclosure. Deal with it. — Garth

Didn’t know you were on the inside with UFOs. When you gonna spill the beans on the aliens? Full disclosure coming to the blog soon I hope.

#154 Bottoms_Up on 06.04.16 at 1:55 pm

#19 Brazil ex-pat on 06.03.16 at 6:48 pm
——————————-
It might do you some good to look at these graphics on global warming. (ps. Local climates can be colder than normal, but globally ie on average, things are warming).

http://www.bbc.co.uk/news/resources/idt-5aceb360-8bc3-4741-99f0-2e4f76ca02bb

#155 Julie K. on 06.04.16 at 2:44 pm

Fat rumor floating around this a.m. here in Gibsons, BC.

Did you hear about Ms. Clark touring Mainland China last week — with a few RE agents in tow?

Well, from a trusted source earlier today, the junket paid off for a Chinese contractor. They will be building a bridge from the Lower Mainland to the Sunshine Coast. A local engineering company (likely RF Binnie) will be involoved in the planning.

This tidbit on top of Mr. Stone’s Fixed Link feasibility study which was issued to Binnie for $250K earlier this year and due any time now.

Add in timing of the BC election just around the corner and a need to spend some of JT’s infrastructure $$$.

No understatement, if my source is accurate, it’s big news for the Lower Mainland, Sea to Sky country and Sunshine Coast.

#bringiton
#byebyeBCFerries

#156 Lee on 06.04.16 at 3:03 pm

Globe pretty much confirms today Toronto Vancouver real estate hikes have a lot to do with outflows of money from China. I personally don’t think there is anything to be suspicious about when every eighteen year old U of T student can afford a Ferrari and three downtown condos. Or when our government officials shop Canadian real estate in China.

#157 Balmuto on 06.04.16 at 4:09 pm

#113 a question for Garth

“What is happening to all the 35,000+ new condos in the pipeline in toronto.
Are they all sold now ??”

What do you think?

#158 Lead Paint on 06.04.16 at 4:09 pm

#107 Unionized Teacher on 06.04.16 at 12:00 am

I think you’re saying that Bitcoins are a bad or risky investment, I can agree that it’s not safe or conservative investment. Some comments on yours:

“One of the biggest is that an individual can engage in an automated manner on a bitcoin exchange in thousands of bitcoin buy and sell transactions with himself, using different accounts, and in doing so driving up the price… pump-and-dump.”

Yes, this is true of other smaller currencies, commodities, stocks, bonds… as a store of value bitcoin is risky, but not its main intention. It’s a means of transaction, allowing two parties to exchange value without an intermediary, and it, and similar technologies, will change the world as we know it. When a nanny in Toronto sends her $ CAD to the Philippines she is not holding bitcoins, or subject to its fluctuations. She is just saving hundreds of dollars (per year) in fees from Western Union. This is just one small example of how big financial institutions are going to be disrupted shortly.

“… the biggest flaw with bitcoin and all the altcoins is that validates can pool their computing power to achieve more than 50%, or that new parties enter that achieve dominance; a party, or group of parties, with more than half of the computing power going into validation can corrupt the entire system, whether it is the crypto currency itself or a blockchain application.”

If someone were to amass that amount of computing power and control 50%-plus-one of the nodes on the network, they could effectively corrupt their nodes only and theoretically the whole system would fail. The end result of this would be to debase the value of the currency… so what would their incentive be? Spend millions of dollars to accomplish… what exactly?

This is a highly unlikely theoretical situation for a well established altcoin like BitCoin. Again, I don’t subscribe to holding on to Bitcoin as a safe or conservative investment, and this may be another valid reason not to. But this is akin to saying that $ CAD is a flawed currency to hold because the government of Canada may be taken over by socialists (or Brazilian Expats) and tank our currency… it’s just not a plausible scenario. The amount of risk and effort to attempt it is enormous, and there is no plausible upside to the attacker… their investment in the Bitcoin network (millions upon millions of dollars) would be wiped out by their very actions. So I just don’t see it.

#52 Andrew Woburn on 06.03.16 at 8:04 pm and #110 drydock on 06.04.16 at 12:12 am

Re: Mt. Gox –

This was a private company that stored people’s Bitcoins. It was hacked and violated and its customers lost a lot of money, but this says nothing about the integrity of Bitcoin itself. If someone takes their USD, CAD or gold and deposits it a private bank (without insurance), and someone robs that bank, they lose their money, but it says nothing about the integrity what was being held there.

* * * *

These are new technologies and people who throw money at them without any understanding of them will likely lose money, much like many did during the DotCom bubble. But this did not mean that the internet was a fad, or corrupt, or nothing but hype. Some of those companies, or those that came after, are the biggest, most powerful companies today and we can expect something similar with the blockchain technologies emerging now.

#159 rainclouds on 06.04.16 at 4:39 pm

#148 Julie K “Fat rumor floating around this a.m. here in Gibsons, BC. They will be building a bridge from the Lower Mainland to the Sunshine Coast.”

Wow, that sounds credible, Bother to check Google Maps before breathlessly making this announcement? In addition, Howe Sound is Kinda Deep……….. as in over 600′

IF a link was created it would be VIA Squamish, tolled and take 2 hours, subject to winter conditions, take longer and probably more than expensive than the current ferry, but doable.

Carry on….

#160 WUL on 06.04.16 at 4:44 pm

#155 Julie K. on 06.04.16 at 2:44 pm

Re: A fixed link to the Sunshine Coast

For purely selfish reasons, this Calgarian is sorry to hear about this prospect. In a 9 year span, my wife, kids and I holidayed 8 times in a cabin 20 minutes south of Powell River. As you know, Powell River requires two ferry rides and can be upwards of an 8 hour trip to travel what, 150 kilometres? That deterred the Vancouver weekend traffic and left that section unlike the Sechelt and more like the wild, pristine BC. I will be sorry to see that deterrent lessened and the potential of heavier traffic to that slice of Paradise looking across the Malaspina.

Many pleasant memories but “progress” marches onward.

#161 jess on 06.04.16 at 5:02 pm

Article | 6 May, 2016 04:34 PM | By Michael Finnigan

David Chong, the founder of Singapore-based trust company Portcullis Group has launched a new commercial multi family office.

Operating out of Hong Kong and Singapore, Fusang Family Office is looking to expand upon the conventional investment-focused model found in Asia and offer western-style services such as succession planning…A 2015 study by JP Morgan estimated that nearly a trillion dollars of intergenerational wealth is expected to be passed down over the next two decades, while only 12% of respondents are prepared for the transition….Royal Bank of Canada’s World Wealth Report 2015 estimates China’s population of high net worth individuals grew 18% in the past year, and now sits at 758,000. The total wealth of this group grew 20.5% to $3.8 trillion….

The Portcullis Group was formerly known as Portcullis TrustNet, after it acquired TrustNet Group in 2004.

FEATURE: Xi Jinping Tech Speech Signals Tougher Times for Foreign Firms

by Sarah Cook

This article was also published in The Diplomat on May 17, 2016.

Analyst Bill Bishop noted this undercurrent in the speech, warning in his Sinocism newsletter that “US tech firms should be under no illusions that there has been any change in the long-term agenda to de-Americanize China’s IT stack.” Indeed, days before the address, Apple’s iBooks Store and iTunes Movies applications were shut down in China, only six months after they had been launched with government approval.
Apple Services Shut Down in China in Startling About-Face
http://www.thestandard.com.hk/section-news.php?id=169974
Economics scholars told to read Marx
https://freedomhouse.org/article/china-media-bulletin-issue-no-115-may-2016

#162 jess on 06.04.16 at 5:12 pm

Rebar Group next-gens sentenced to prison
Article | 15 August, 2013 11:20 AM | By Jessica Tasman-Jones

The fraudulent actions of Taiwanese family business Rebar Group have landed five next-gens with prison sentences, while their father remains on the run.Wang and his family were accused of siphoning off more than US$9 billion (HK$70.2 billion) in Rebar assets

Fugitive steel tycoon killed in US crash
China | Jun 1, 2016
Fled to U.S.in 2006, days before prosecutors began their investigation into the group. He is listed as one of Taiwan’s 10 most wanted economic criminals.

#163 jess on 06.04.16 at 5:22 pm

2 gut check on 06.03.16 at 5:55

From the new york attorney investigation:
,,,” Ticketing, to put it bluntly, is a fixed game. Consider, for example, that on December 8, 2014, when tickets first went on sale for a tour by the rock band U2, a single broker purchased 1,012 tickets to one show
at Madison Square Garden in a single minute, despite the ticket vendor’s claim of a “4 ticket limit.” By the end of that day, the same broker and one other had together amassed more than 15,000 tickets to U2’s shows across North America. read more @http://www.ag.ny.gov/pdfs/Ticket_Sales_Report.pdf

A Ticket Bot is a software program that automates
the process of searching for and buying tickets to
events on ticket vendor platforms, such as Ticketmaster. Using Bots, a broker can automate the
process of searching for and buying tickets so that it occurs in the blink of an eye, and conduct tens, hundreds, or even thousands of lightning-fast transactions at the same time. To successfully buy thousands of tickets, Bots must perform four different functions. These functions may be handled by one Bot or several.First, spinner, or “drop checker,” Bots constantly monitor ticketing sites to detect the release, or “drop,” of tickets. Ticketmaster has stated that spinners can account for as much as 90% of the traffic to its website.
Second, Bots automate….

#164 Rich Young on 06.04.16 at 5:51 pm

Garth,

You state the pleasing unemployment rate. You do know how the rate is calculated rate?

Those not employed divided by those in the labour force. People leave the labour force through suicide, quitting the search, disabled through depression, qualifying for welfard… a shrinking labour force = lower unemployment rate. I’ve been to the states lately. Empty stores all over the place and looking pretty crappy if you ask me. Auto, Home and Ice cream sales are all we have left :)

#165 Fed-up on 06.04.16 at 5:52 pm

#140 Neil M on 06.04.16 at 11:26 am

House that I am renting in White Rock $1600(upper level 3bed) the owner purchased for $675,000 three years ago. listed this week for $1,400,000 in that time the market has doubled in certain areas around Vancouver and people will be lined up here for the open house. This is insane, and now rental units are starting to equalize in price, )3-4000 for a month is not doable for an average blue collar Canadian family. Watching closely last week for a potential rate hike to cool this thing but delay, delay, delay.
———————————————————————————–

Sell your house and rent they say…rent what exactly? Yes we should all be thrilled to pay $30-50K per year in rent for a home in the GTA or YVR.

Our diversified portfolios stagnant or flat at best for the past 2 years while some illiterate home owner with 5% down making out like a bandit and about to become your landlord to boot. You need a 1 million dollar portfolio growing at 6% just to have your rent and basic living expenses covered in these 2 cities. And that’s IF you get a 6% average return.

No multiple rate increases, no correction, no pooched or melting major real estate markets and no sanity in sight. The strategy that so many boast about here while belittling their landlord, has been delusional at best for the past 12 years.

#166 Brazil ex-pat on 06.04.16 at 6:01 pm

#154 Bottoms_Up on 06.04.16 at 1:55 pm
#19 Brazil ex-pat on 06.03.16 at 6:48 pm
——————————-
It might do you some good to look at these graphics on global warming. (ps. Local climates can be colder than normal, but globally ie on average, things are warming).

http://www.bbc.co.uk/news/resources/idt-5aceb360-8bc3-4741-99f0-2e4f76ca02bb

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

Nope. Your just reading what the want you to read. That’s why it’s called “brain washing”.

#167 Brazil ex-pat on 06.04.16 at 6:06 pm

#152 crowdedelevatorfartz on 06.04.16 at 1:26 pm
ahhhhhhh 23c at 10:30 am in Burnaby.
Not a puff of wind or cloud in the sky.

Time for a bike ride…… :)

Yo Brazil Expat!
Hows the zika eradication progressing in the favelas?

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

You mean the zika hoax? It’s going just fine. Just like the SARS hoax the swine flu hoax the bird flu hoax and all the other hoax’s we are told to believe so that monsanto and other ilk can “chemical their way” around the world poisoning everyone and everything their path? Don’t believe me….well then keep drinking the “Jim Jones kool-aid”.

#168 Nebbio on 06.04.16 at 6:28 pm

Am I missing something here? Even if we accept the chart presented as gospel, it would seem to me, that once declines in the 70’s and 80’s are factored in, wages have indeed flat lined since the 70’s. Doesn’t that chart just confirm that average worker salaries are basically at the same level as the 1970’s?

#169 Nebbio on 06.04.16 at 6:31 pm

It also fails to take into account that productivity increased far faster than wage growth. Where did all those gains in productivity go? It certainly wasn’t returned to workers in the form of higher wages.

#170 For those about to flop on 06.04.16 at 6:39 pm

It seems a couple of people on the blog are sick of me.

There is a bug going around ,I think it’s called the Ryan Inflewenza…

M41BC

#171 For those about to flop on 06.04.16 at 7:07 pm

Boom,this is one persons version of progress in the U.S…

https://imgur.com/uLUQqdd

#172 crowdedelevatorfartz on 06.04.16 at 8:06 pm

@#167 Brazilian wax
Actually Im drinking Lemonade and Vodka on the rocks. Very refreshing after a long bike ride in the heat.

Ahhhh yes. Not only are you a “code monkey” you have a PhD in virology.
Well I can now understand why you moved to the “tropics” .
No shortage of Zika, Yellow fever and malarial type infections brought to you by the propagandists at Monsanto…..quite a paranoid world view you have….or is that a side effect of the Gamma Globulin shots you recieved before exiting Canada?

Now about those Killer Bees you’ve been sending North………

#173 crowdedelevatorfartz on 06.04.16 at 8:10 pm

@#155 Julie K

Sorry Julie. Gibson’s will have to wait its turn.

Apparently the exploratory drill holes for the new, 12 lane bridge to be built over the South Fraser / Deas Tunnel in Richmond hasnt hit solid rock yet……and they’re currently at 600ft.

Can you say 5 billion dollars and a $10 toll?
I knew you could.

#174 bill on 06.04.16 at 8:32 pm

#155 Julie K. on 06.04.16 at 2:44 pm
whether it happens or not , its doable. a ‘humber bridge’ length span from the Squamish highway to Anvil island -about the same to get from Anvil island to Gambier island and a couple of shorter spans from Gambier to scenic Port Mellon…
none of these ‘hypothetical ‘ suspension bridges would be close to the longest currently in use world wide..
and if it continued on up the sunshine coast – spans at every water crossing all the way to Campbell river.
what a tourist draw that would be…
no ferries. drive or pedal or walk. beats swimming across.

#175 Yuus bin Haad on 06.04.16 at 8:35 pm

Sherry’s solution is to have the government build more affordable housing; Ryan’s is to have it tax foreign buyers?

#176 WalMark of Sadkatoon on 06.04.16 at 9:13 pm

#169 Nebbio on 06.04.16 at 6:31 pm

it went to shareholders of course

we spent it on hookers and blow

#177 Squish on 06.04.16 at 9:32 pm

#159 rainclouds on 06.04.16 at 4:39 pm

148 Julie K “Fat rumor floating around this a.m. here in Gibsons, BC. They will be building a bridge from the Lower Mainland to the Sunshine Coast.”

Wow, that sounds credible, Bother to check Google Maps before breathlessly making this announcement? In addition, Howe Sound is Kinda Deep……….. as in over 600′

IF a link was created it would be VIA Squamish, tolled and take 2 hours, subject to winter conditions, take longer and probably more than expensive than the current ferry, but doable.

Carry on….

——

Squamish is part of the Lower Mainland, fyi. That, and the fact that there’s a $250,000 study currently taking place looking at the viability of a bridge or road connection to the Sunshine Coast, can also be checked on this google of which you speak.

#178 Two in the Pink on 06.04.16 at 9:43 pm

Have not seen this mentioned on the blog so tossing it out. Actual data on house sales I can use? American style Zillow some day may be?

Toronto Real Estate Board ordered to open up online sales data

http://www.cbc.ca/news/business/treb-competition-tribunal-order-1.3616564

#179 BOOM! on 06.04.16 at 9:51 pm

#171 Flopper…

There is NO question in my mind. Bush 2 was an awful president. Fiscally irresponsible, with both unwarranted tax cuts, as well as unfunded WAR. Then the economy went to shit….

HIS 2 terms were over, no dog in this race… enter Obama… Yup, deficits increased, you don’t really raise taxes during a recession. His FED lady is a timid old gal who does not want to chance a dam thing… (so no rate increases until Hell freezes over a bit more…) MY totally unqualified opinion, but if I were moving money I would make dam sure the data never supported something MY interests did not want (higher rates)… ergo no higher rates.

Data Driven, or brow beat, the result is undeniably similar.

So, now Obama has no dog in the race.

The American populace will likely face a choice of Hillary or Donald, and maybe a few lesser knowns.

Puke City here in fly-over country. What a grim choice. Oh, we do NOT get to choose the president, the electoral college needs to decide that. Popular vote can go one way, the electoral college votes another way it has happened before. We remain a semi-free country.

Did anyone one notice the populace is extremely well armed? Just curious on that…

#180 For those about to flop... on 06.04.16 at 10:16 pm

Boom…nice commentary at 179.

I should have sent you this one as well as then…

M41BC

https://imgur.com/XtDTpU1

#181 Caught on 06.04.16 at 10:26 pm

Was in Woodbridge today. House next door to a relative sold for $1.07M. House was purchased 6 years ago for $500K. A 40% correction in GTA real estate would only take us back to 2010 levels.

#182 Bottoms_Up on 06.04.16 at 10:27 pm

#167 Brazil ex-pat on 06.04.16 at 6:06 pm
——————————–
Guess HIV is a hoax too right? Zika is a deadly neonatal disease, I worked in a hospital during the SARS crisis and know of people that died of it, and bird flu occurs when Asian farmers work too closely with affected birds. These are all real and potentially deadly diseases.

Nothing you say is supported by any type of evidence, thus making you a KOOK.

#183 canuck on 06.04.16 at 10:32 pm

The 4.7% jobless rate, by the way, is a nine-year low. Impressive.
_______________________________________________

It’s also a manipulative lie. You know full well how they calculate the unemployment rate yet you beat the drum.

If America was doing as well as you say, there wouldn’t be 50 million people on food stamps and Trump wouldn’t be the Republican nominee… and I expect, the next President of the United States. Yes, I realize you think he has no chance but you and others said he would never get the nomination either.

The tail has finally stopped wagging the dog.

#184 Unionized Teacher on 06.04.16 at 10:45 pm

%158 Lead Paint: your analogy is wrong. The govt of canada is a regulated entity consisting of known individuals who can be prosecuted. Furthermore, a rogue takeover would be immediately known. In contrast, all it takes with bitcoin is for the current biggest miners to pool their resources together. You probably are not aware that today the majority of mining power is in the hands of just a few players. Apart from these players pooling, outsiders could attack or corrupt them in such a manner that nobody would know they have been compromised and subsequently been pooled. The entire system would retroactively become invalid. If this ties into blockchain for nonfinancial purposes, whatever data you committed to the blackchain might retroactively be edited out. The only way to prevent this would be to rely on a mechanism to at regular intervals accept the state up to that time is being valid, so that is cannot retroactively be corrupted. But that relies on an authoritative set of trusted parties, which goes against the whole design of bitcoin; doing this means one might as well rely on trusted parties to begin with, in which case we can do away with the ridiculous proof of work waste of resources. In short, the entire design is completely broken, it is a ridiculous joke. You may not know this, but virtually no expert cryptographer worth his salt believes in bitcoin or the related blockchain hype; think about it, that means something. There are other kinds of digital cash systems that are vastly superior in terms of efficiency, privacy and security, in a manner that does not rely on proof of work and unknown miners. These systems have never become reality because they canibalize on the profit margins of the banks. The irony is, I suspect, that these systems will be revived once banks and regulators realize that Bitcoin is the worst of all possible worlds, but that this sick genii cannot be stashed back into its bottle entirely; when that realization comes, the incentive to adopt an efficient digital cash system subject to regulation etcetera will outweigh concerns by banks about eating into their own profit margins.

#185 Shortymac on 06.04.16 at 11:09 pm

Wow lots of trump trolls here, Jesus.

I’m just happy we are at peak house, it’s gotten insane. So glad my husband and I have stayed out of it.

#186 Brazil ex-pat on 06.04.16 at 11:35 pm

#182 Bottoms_Up on 06.04.16 at 10:27 pm
#167 Brazil ex-pat on 06.04.16 at 6:06 pm
——————————–
Guess HIV is a hoax too right? Zika is a deadly neonatal disease, I worked in a hospital during the SARS crisis and know of people that died of it, and bird flu occurs when Asian farmers work too closely with affected birds. These are all real and potentially deadly diseases.

Nothing you say is supported by any type of evidence, thus making you a KOOK.

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

Yup….revert to name calling. It’s always what you “no-evidence people do” when your back is against the wall. I am IN BRAZIL and everyone here knows it’s a corporate hoax.

Your hospital work? Don’t make me laugh. My wife was a hospital worker too. You slaves does “say and do” as you are told cuz you are too scared of losing your cushy salary, benefits and pension.

#187 Brazil ex-pat on 06.04.16 at 11:42 pm

#172 crowdedelevatorfartz on 06.04.16 at 8:06 pm
@#167 Brazilian wax
Actually Im drinking Lemonade and Vodka on the rocks. Very refreshing after a long bike ride in the heat.

Ahhhh yes. Not only are you a “code monkey” you have a PhD in virology.
Well I can now understand why you moved to the “tropics” .
No shortage of Zika, Yellow fever and malarial type infections brought to you by the propagandists at Monsanto…..quite a paranoid world view you have….or is that a side effect of the Gamma Globulin shots you recieved before exiting Canada?

Now about those Killer Bees you’ve been sending North………

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

Yeah yeah mr brain fart……and everyone here is dropping dead of zika blah blah blah. Oh wait….no they are dropping dead of corporate pesticides that is being covered up by the media….like they cover it up ALL OVER THE WORLD. That is why people HATE big corporations ALL OVER THE WORLD.

How are the 2 million dollar shacks working out for you up there? How’s the housing crisis in Moldcouver coming along? Can’t wait to see what happens when 50,000 people can’t find a place to rent because they are all empty or the slumlords are charging $5000 a month for a one bedroom condo.

meanwhile…..the women here are hotter, the food is better and weather is great. I hear its going to rain all next week….like it did all last week. Good luck up there !!

#188 Ponzius Pilatus on 06.04.16 at 11:43 pm

#142 WUL on 06.04.16 at 11:27 am
Hon. Financial Potentate, M.P., P.C.:

Just a shout out to all of the volunteers from all over North America that have scurried up here to Fort McMurray to ease the return of its inhabitants. It is a marvel. I am working at a welcome centre where citizens come for Red Cross aid, food, water, cleanup kits, utility reconnection, diapers, etc.

Hats off to the Oklahomans who undertook a 48 hour bus ride and will do whatever is asked of them including the removal of refrigerators from homes if you need that help.

Kudos to the corporate interests and their employees who are busting their asses to assist.

Also, and Google these folks, Team Rubicon, started by 6 former US Marines, is here to offer their non-profit skills and expertise in performing the risky jobs of sifting through the rubble to help people recover valuables and heirlooms. Team Rubicon has been established in the UK and Australia and now a Canadian Chapter has been born.
We live in a wonderful world and wonderful people abound.
————-
Well you can tell that to the kids that the Canadians and Americans bomb out of their crips.
Wonderful, indeed.

#189 Vern Likely on 06.04.16 at 11:48 pm

“Our diversified portfolios stagnant or flat at best for the past 2 years while some illiterate home owner with 5% down making out like a bandit and about to become your landlord to boot. You need a 1 million dollar portfolio growing at 6% just to have your rent and basic living expenses covered in these 2 cities. And that’s IF you get a 6% average return.”

My little CDN cheese maker SAP went up 4.5 % ‘yesterday’. Balanced portfolio’s are a recipe for cat food lovers.

#190 Smoking Man on 06.05.16 at 12:42 am

When you figure out exactly what electricity is.
You will know everything in the universe.

Dr Smoking Man in his lab
Jun 5th 12:41am 2016.

#191 For those about to flop... on 06.05.16 at 1:09 am

Boom, I would not be surprised if the U.S had three different presidents in the next decade and a bit.

Similar to what happened in the 70’s I guess.

Dodgy facial hair is back vogue so I might have to bust out some bell bottoms and undo my top shirt buttons to let some chest hair out.

Say Clinton wins ,who will the Republicans turn to in 2020?Trump already destroyed a lot of guys without getting out of second gear.Someone like Paul Ryan who is not as crusty as the last lot?

If you go the other way and Donny Rump wins who do the Democrats send up to the plate in 2020?
Once again ,maybe someone younger with a similar message as Colonel Sanders.

I just see the novelty factor of a first female president with a ton of skeletons and a guy that fired Gary Busey wearing thin pretty quick.

Although Trump is shaking things up ,the establishment still seems to be able to ram what they want down your throats.
And what America eats and shits out is what the rest of the world lives on.

Maybe all the American voters can do to stop these guys getting too comfortable is to collude and change the ruling party every 4 years.

It will send a message….stop dailing for dollars and get the people’s wishes done.

The only question is though ,who gets to go first…

M41BC

#192 Damifino on 06.05.16 at 1:16 am

#165 Fed-up

The strategy that so many boast about here while belittling their landlord, has been delusional at best for the past 12 years.
————————————

Been working like a hot damn for me for the past six.

I don’t belittle my landlord, though… He’s a God.

#193 BillyBob on 06.05.16 at 4:34 am

Hopefully you get transferred to Malaysian Airlines and go missing…

M41BC

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

Classy.

A large number of my colleagues are former MAS pilots, hired after they shut down that company’s B777 operations due to losing the two aircraft (one shot down, the other missing). Many of them knew the crew members on those flights. I think I’ll probably pass on mentioning your glib comments, they probably just wouldn’t get how funny joking about dead/missing friends is.

I don’t bash on all Australians. Vast majority I’ve met are decent and a good laugh to have a drink with. The cadre at Emirates have a bit of a rep for being anal “See You Next Tuesdays”, some deserved, some in fun. I just find it interesting that in spite of – best I know – not being in the airline-pilot-niche, you still carry the identical personality traits beloved of your countrymen. Shooting your mouth off to the very end well past the point everyone grew tired of it. I’m guessing you’ve limped home from the bar with with a lot of scrapes, cuts and bruises more than a few times in your life.

Anyway, thus ends the observations of BillyBob. Apologies to our host for wasting his bandwidth with this, no more on the topic from me.

#194 Jimmy on 06.05.16 at 4:35 am

FIRST !!
on June 5 2:30am
Mars and Jupiter are amazingly brilliant in the night sky.

#195 Franco on 06.05.16 at 7:26 am

I agree with #39, except for the recession and depression parts. Numbers will not be high enough to warrant any rate increases this year, unless they want to grind the economy to a halt.

#196 Life among the stars on 06.05.16 at 9:04 am

#194 Jimmy on 06.05.16 at 4:35 am

FIRST !!
on June 5 2:30am
Mars and Jupiter are amazingly brilliant in the night sky.

Indeed they were.. I thought it was an alien spaceship at first they were so bright.

#197 Life among the stars on 06.05.16 at 9:13 am

#190 Smoking Man on 06.05.16 at 12:42 am

When you figure out exactly what electricity is.
You will know everything in the universe.

Dr Smoking Man in his lab
Jun 5th 12:41am 2016.
..

Well actually Maxwell figured it out over a hundred years ago which thus explains your ability to text electromagnetic waves from your amazing phone while tripping on JD and shrooms with a side order of psychedelic pot.

You forgot to add your alma matter “Trump University”.

#198 ROTFL on 06.05.16 at 9:17 am

Poloz blames Harper for housing bubble, takes brief swipe at Carney. Lips barely move.

http://www.bankofcanada.ca/wp-content/uploads/2016/06/sdp2016-13.pdf

#199 Steerage Bilge on 06.05.16 at 9:21 am

#186 Brazil ex-pat on 06.04.16 at 11:35 pm

#182 Bottoms_Up on 06.04.16 at 10:27 pm
#167 Brazil ex-pat on 06.04.16 at 6:06 pm
——————————–
Guess HIV is a hoax too right? Zika is a deadly neonatal disease, I worked in a hospital during the SARS crisis and know of people that died of it, and bird flu occurs when Asian farmers work too closely with affected birds. These are all real and potentially deadly diseases.

Nothing you say is supported by any type of evidence, thus making you a KOOK.

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

Yup….revert to name calling. It’s always what you “no-evidence people do” when your back is against the wall. I am IN BRAZIL and everyone here knows it’s a corporate hoax.

Your hospital work? Don’t make me laugh. My wife was a hospital worker too. You slaves does “say and do” as you are told cuz you are too scared of losing your cushy salary, benefits and pension.

….
HIV, Zika and SARS are corporate hoaxes…. yeah ok… the Brazilian sun has clearly fried your brain.

#200 Vancouver J on 06.05.16 at 9:31 am

Worried again, been reading and commenting on this blog for a number of years. Housing is crazy here. Just bought a condo in January. For $400,000 now another sold for $460,000. WhAt I understand is trickle down effect, housing now 1.5 million, so people are looking at cheaper housing.

Since today is about the economy. Are bloggers worried about debt? Homeowners, corporations, and governments? Garth you keep saying things are good economically? and I agree in the long term. But all that debt cannot be good? Maybe they will inflate it away like the 70s and 80s. Is anyone else worried? Been reading allot of information that there will be some kind of reckoning. I don’t think a total economic collapse but certainly a crisis. I read that in 1987 and again in 2008 we were just hours from collapse. Can we take another major crisis? Gold might not be the answer and money in the mattress is a fire hazard. So then what do we do buy preferered stock,? Not with rising rates and high debt, surely there is a better solution. Advice welcome!

#201 economictsunami on 06.05.16 at 9:34 am

Even DR recognizes that even coordinated central bank magic is waning.

After many years of “recovery” are we closer to a breakout expansion or contraction?

DAVID ROSENBERG: I don’t want to alarm anyone but…

… “This is the biggest “miss” by the economics community since December 2013, and the worst headline since September 2010 when the Fed was more preoccupied with its next round of quantitative easing than with raising the funds rate.

Not just that, but there were downward revisions to the prior two months totaling 59,000 — something we have not seen since June of last year.

Look at the pattern; +233,000 in February, +186,000 in March, +123,000 in April and +38,000 in May. Detect a pattern here (he asks wryly)?…”

http://www.businessinsider.com/david-rosenberg-warns-of-recession-2016-6

Perhaps a new Bretton Woods is needed before fragmented isolationist, self interest, entirely takes over…

#202 crowdedelevatorfartz on 06.05.16 at 9:39 am

@#187 Brazilian ExWax
“the women here are hotter, the food is better and weather is great. I hear its going to rain all next week….like it did all last week. Good luck up there !!
********************************************

Ladies and Gentlemen.
I give you patient Zero for the Zika virus. Evident from the size of his brain…….

Egads! Another +30 day in Vancouver and no mosquitos to worry about….Or smog….or gangs in favelas. Just another day in paradise…….

Time for another 40k bike ride without worrying about being mugged,robbed and shot.

@#194 Jimmy
No. You’re not first but you are correct.
Mars and Jupiter ( or was it Saturn?) were amazingly bright in the night sky last night.

#203 MF on 06.05.16 at 9:54 am

#185 Shortymac on 06.04.16 at 11:09 pm

“Trump Trolls”?

He is the next GOP presidential candidate in case you did not notice? He has millions of followers and will probably be the next POTUS.

The FED now has little credibility. The jig is up and many Americans believe the Obama “recovery” has been a lie.

Trump’s rise is directly related to resentment that has been developing for years. Supporting a candidate that about 50% or more of the US population (175 million people) support is not “trolling”.

MF

#204 Ret on 06.05.16 at 10:02 am

I used to buy Ontario Savings Bonds. They paid a decent rate -good for me, and the province got a cut of income taxes paid on the interest -good for them.

It kept some of Ontario’s debt in the province and pretty much assured that the interest earned would be taxed and spent their too.

Check out these rates. They can’t be serious.

http://www.ontariosavingsbonds.com/en/series2016.html

#205 crowdedelevatorfartz on 06.05.16 at 10:08 am

@#174 bill and #177 Squish

Before the “bridge too far” gets built to the Sunshine Coast. Yo! Brazil Expat! Note the name “Sunshine Coast”.
Lets not forget that pesky LNG facility that our beloved Preem Christy (wanna buy a BC Railroad?) Clark is hell bent on ramming through any opposition.
LNG tankers that require minimum safe distances to sail. One can only wonder the explosive potential of a fully loaded LNG tanker bracketted in Howe Sound between the Squamish Highway and a potential new highway on the other side.
Can you say “bbq” or “fricasseed wabbits”?
Judging by the foot dragging displayed by the sloths in the BC Legislature that are more interested in private “meetings” with “donars” I wouldnt hold my breath.
Lets see if the Liberals can even get a new, desperately overdue bridge built on the South Fraser for the tens of thousands of daily commuters before there is talk about building a multi billion dollar road and bridge system for the few thousand taxpayers retired on the Sunshine Coast. It wont happen for at least a decade if ever.

#206 For those about to flop... on 06.05.16 at 10:13 am

#193 BillyBob on 06.05.16 at 4:34 am
Hopefully you get transferred to Malaysian Airlines and go missing…

M41BC

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

Classy.

A large number of my colleagues are former MAS pilots, hired after they shut down that company’s B777 operations due to losing the two aircraft (one shot down, the other missing). Many of them knew the crew members on those flights. I think I’ll probably pass on mentioning your glib comments, they probably just wouldn’t get how funny joking about dead/missing friends is.

I don’t bash on all Australians. Vast majority I’ve met are decent and a good laugh to have a drink with. The cadre at Emirates have a bit of a rep for being anal “See You Next Tuesdays”, some deserved, some in fun. I just find it interesting that in spite of – best I know – not being in the airline-pilot-niche, you still carry the identical personality traits beloved of your countrymen. Shooting your mouth off to the very end well past the point everyone grew tired of it. I’m guessing you’ve limped home from the bar with with a lot of scrapes, cuts and bruises more than a few times in your life.

Anyway, thus ends the observations of BillyBob. Apologies to our host for wasting his bandwidth with this, no more on the topic from me.

///////////////////////////////////

Wow ,you are something else…

M41BC

#207 crowdedelevatorfartz on 06.05.16 at 10:26 am

@#203 MF

You seriously believe that obnoxious, racist, populist pandering blowhard will be elected President?
Whts in YOUR coffee this am?

MY prediction is the Republican nomination in Cleveland this July will be the scene of the largest riots ever seen in US political history. Followed soon after by the smaller Democratic convention riots in Philidelphia.

Trump is the most divisive, populist, braggart to ever reach the position of “leader”. All while spewing forth xenophobic nonsense that means nothing other than a populist message of hate. He solves nothing. He offers no new ideas. He is poison dividing a country right down the middle. He has done more harm to the US political system in one year than George W Bush did in 8 years in office after starting 2 wars.

But I’m not concerned.
Hillary will win the vote by a wide margin and then the legal challenges and fighting will start in mostly (at last count 17) Republican leaning states that have changed the voting eligibility rules to make it more difficult for minorities and the poor( who usually vote Democratic) to vote. Those with a Drivers or gun license need only vote.
Can you say, ridiculously hours long lineups?
Remember the Florida “chad” debacle that saw George Bush win by 50.01% that took 30 days to recount. Multiply that by 17 states and maybe a year after the election the true President (Hillary) will be annointed

#208 Apocalypse2014 on 06.05.16 at 10:30 am

Wildfires are ripping across L.A. and will soon engulf all of North America!

SAVE THE KARDASHIANS!!

If not, we are all next :( :(

http://www.nbcnews.com/news/us-news/wildfires-threaten-homes-calabasas-west-hills-n585936

The Summer of Apocalypse is upon us. Paris under water, war coming soon, real estate beginning its downward plunge in Canada. New Mega Fires coming across Canada soon, too.

#209 Scott on 06.05.16 at 10:30 am

Seems the higher the price of a roof gets the meaner the contributors of this blog get. Wake me up when it’s all over. I’m done with this crap.

#210 Julie K. on 06.05.16 at 10:34 am

Update on the fixed link news ex Lower Mainland to Sunshine Coast….

No more specifics but my source confirms this a.m. the fixed link is a done deal. His source is from the “inner circles” of the Clark government. Enough said.

To confirm; a bridge WILL be built over Howe Sound off of Hwy 99 north of Horseshoe Bay (unsure of exact route but likely via Anvil Island) into “Gibsons” (probably Port Mellon just north of Langdale and Gibsons where a road already exists).

As stated yesterday, contracts were signed last week in China while Ms. Clark was there. RF Binnie will continue to be involved big time in this project (Binnie is already working w/Mr. Stone’s $250K on the soon to be released feasibility study for the fixed link).

Ms. Clark will be making the announcement at a future date/time of her choosing.

Big, big, big news for Vancouver/Sunshine Coast.

Did I say this is BIG???

#211 MF on 06.05.16 at 10:40 am

#207 crowdedelevatorfartz on 06.05.16 at 10:26 am

It’s not about what he says, it’s about what he represents.

You have to ask yourself if you like the path America is on. A lot of people do not, and are hence, attracted to Trump. All those criticisms are just the usual insults hurled at anyone who disagrees with the “progressive” ideology being rammed down our throats.

He’s talling into an anger and frustration down south. If things are so rosy then why is he the GOP candidate?

MF

#212 Scott on 06.05.16 at 10:44 am

P.S. If anyone really wants to know what’s going on read The trumpet.com. Good luck everyone.

#213 For those about to flop... on 06.05.16 at 10:51 am

Hey MF, my TFSA is finally back in positive territory after that rough start last year.
My decision to spend this years money on Canadian equity made up for the other sluggish performers.

How’s yours doin…

M41BC

#214 crowdedelevatorfartz on 06.05.16 at 11:08 am

@#210 Julie K
Ms. Clark will be making the announcement at a future date/time of her choosing.”
*******************************************
Gee…..election pandering to the gullible few thousand that live on the Sunshine coast…….nah Christy would never do THAT! Not possible.

A fixed link(other than the current logging roads) to the Sunshine Coast wont happen for a decade….if ever.

@#211 MF

Trump is a salesman. Nothing more. He’s locked in to the angry, the frustrated, the anti PC crowd that are fed up having PC rules shived down their throats.
I get it.
But at what cost?
“We’re gonna build a wall! And make Mexico pay for it!”
Seriously?
You’re rooting for a populist pig like that? He’d say anything (and has) to get elected.
Donald Trumps’ mouth will sink him faster than anything Hillary can come up with.
Count on it.

#215 MF on 06.05.16 at 11:13 am

213 For those about to flop… on 06.05.16 at 10:51 am

Flop!

Happy to report mine is slightly (1%) positive too.

Seems to have hit some resistence lately though.

MF

#216 };-) aka Devil's Advocate on 06.05.16 at 11:25 am

#48 Ogopogo on 06.03.16 at 7:58 pm

What planet do you live on?!?

It’s a symptom of this uptick, which hasn’t actually moved many of the homes that have been sitting unsold and unwanted for months or even years. Only the desperately priced are selling right now, despite DA’s blatant lies.” Ogopoggo

LOL ROTFLMAO!!!

Are you serious? Where do you get your information?

I don’t think the market has EVER been this hot – EVER!

Unbelievable.

#217 NoName on 06.05.16 at 11:26 am

#190 Smoking Man on 06.05.16 at 12:42 am

what electricity is? That problem was solved long time ago…
—–
Struja je jedina imenica ženskog roda koja se ne sme dirati golom rukom!
—–
dont translate on eng wont make sence or be funny, but it is very funny.

#218 Ponzius Pilatus on 06.05.16 at 11:36 am

#28 Metaxa on 06.03.16 at 7:20 pm
@ 184 Ponzius Pilatus
Hope President Trump gets rid of the FED.
Most useless institution on the planet.

I would suppose its more likely to be the other way around.
If he does become Pres and if he does start stepping out of bounds regarding those who truly control what happens down there I suspect we will shortly find out how his hair is really attached.

Unless the autopsy report is classified, eh?
———————-
Crossed my mind too.
In any case, this probably will not end well.

#219 rainclouds on 06.05.16 at 11:46 am

#210 Julie

It would seem premature to decide and commit on a solution prior to study completion. But with everything else in this government not particularly surprising. Politics trumps due diligence…..waiting till land is assembled by her friends?

http://www.cbc.ca/news/canada/british-columbia/sunshine-coast-highway-1.3432178

#220 };-) aka Devil's Advocate on 06.05.16 at 11:49 am

#48 Ogopogo on 06.03.16 at 7:58 pm

If I make six appointments to show six different properties to a Buyer it is not unusual, and I anticipate, that four of them will be under contract already, half of which will likely have backup offers.

It’s a bitch of a market. It’s not fun for Buyers or Sellers.

Part of the reason for the lack of inventory is because many would be sellers can’t find anything appropriate to replace their property with if they sold.

It is insanely busy.

I look forward to it correcting and becoming a more “normal” market.

#221 Ponzius Pilatus on 06.05.16 at 12:07 pm

Amazed that no one here has mentioned the unforgivable arrogant behavior of the Chinese Foreign Minister in Parliament this week.
Too bad Sgt. Vickers is now in Ireland.
Would have thrown the rascal out.

#222 rainclouds on 06.05.16 at 12:21 pm

RIP “The Greatest”

https://www.youtube.com/watch?v=JJcDk66qO3E

#223 Metaxa on 06.05.16 at 12:39 pm

#185 Shortymac writes:

Wow lots of trump trolls here, Jesus.

I’m just happy we are at peak house, it’s gotten insane. So glad my husband and I have stayed out of it.

I call them, in my mind’s eye, Trumpeters.

they will either be gone or conveniently suffering from selective amnesia in December.

The further away from true conservative principles both the Cons in Canada and the GOP in the US allow themselves to get the further away from any sustainable governing power they will remain.

#224 MF on 06.05.16 at 1:06 pm

#214 crowdedelevatorfartz on 06.05.16 at 11:08 a

Of course he is a salesman. They all are.

Trump is actually more open than the others. That is the irony.

Again, it’s now clear the Americans are unhappy with the status quo and want change. Plus they are looking North at us, and to the EU and seeing what a disaster “progressive” policies are. The western world is collapsing and millions of Americans are paying attention.

MF

#225 MF on 06.05.16 at 1:10 pm

#223 Metaxa on 06.05.16 at 12:39 pm

How about those leftist thugs forming mobs and harassing anyone that disagrees with their BS?

The black bloc, the BDS movement, slut walk…and the list goes on.

If you don’t agree with this you are branded a mysogynist/racist/bigot/imperialist and threatened.

Sounds like “liberal” radicalism to me.

MF

#226 the Jaguar on 06.05.16 at 4:40 pm

#206 – Insufferable bore.

No. You are actually the one who is ‘something else’.
Something unmentionable on this blog. Something quite obvious otherwise. Pack up your negative comments and hit the road.
Don’t go away mad, but please go away.
Please, please Mr. Postman….make the insufferable bore go away.

#227 bill on 06.05.16 at 5:24 pm

#205 crowdedelevatorfartz on 06.05.16 at 10:08 am
while I dont think that this would happen tomorrow, the concept is one that has been around for awhile. as far as lng movement through Howe sound : the oil tankers coming to the refinery in port moody thread a far more complex water way than Howe sound with far more potential for damage I think.
of course the ability to build such a structures [bridges and highways] is limited by the size of the purse and imagination… [speaking for myself I always thought the ‘iona to gabriola bridge / tunnel plan was the way to go. so did others , way back in 1966 or so , they were doing what appeared to be marine surveying off what became drumbeg park and the flat tops -i believe a few million dollars have been spent already on this over the years….
my personal vision was the ‘coast highway similar to the ‘Norwegian Atlantic highway’ going from Vancouver to Campbell river joining eventually with the ‘Iona /gabriola tunnel / bridge for a full circle.]
now the current governments bridge efforts arent really in doubt are they?
we are getting a bridge at the deas crossing whether we like it or not [ i think the public wanted another bigger tunnel….but the government has different plans eh?] , bear in mind quite a few have been built in the last while under various governments so their ability to ford a stream is not in doubt as far as I am concerned.
the ability to do this within budget and as little skimming off of the peoples funds as possible are of course the real difficulties.
the ‘possible’ bridge to the sunshine coast has little to do with the folks that live there.
the vast majority moved there because there isnt one.
any bridge that gets built will be to develop the land as far as I can see as there is enough land to put three or four ‘North shores’ on the Sechelt peninsula as bedroom communities . its hard to believe but there are a lot of people who live in Sechelt and commute to Vancouver…. no crazier than commuting from east of chilliwack though…

#228 salonist on 06.05.16 at 7:24 pm

#190 Smoking Man on 06.05.16 at 12:42 am
ever hold a heavy duty magnet to a light bulb.
that’ll spark you right up.

boating season and the great fissure under lake Ontario goes,it’s going to suck you down into never land.

#229 Ace Goodheart on 06.06.16 at 12:24 pm

“Cartwright” might as well buy the 500K house.

What else are they going to do with 50K in savings? The thing people don’t get here is, these folks are not buying houses as investments. They are buying them to live in. Yes there will be hard times, they will sometimes struggle to keep up, they will have to work a lot, but at the end of it all, they got to live somewhere.

If they were millionaires looking for an investment, probably the 500K house is not ideal for that. They could invest their millions and live off the interest. I get that. But these people don’t have millions. They can’t invest 50K and pay the rent with the income from that investment.

Buy the house. In 30 years you’ll be glad you did. There will be some hard times in between. But at the end of the day, it’s nice to have somewhere to call home. Your kids will love the backyard. It’ll be fun.

#230 Fed-up on 06.06.16 at 12:40 pm

#192 Damifino on 06.05.16 at 1:16 am

#165 Fed-up

The strategy that so many boast about here while belittling their landlord, has been delusional at best for the past 12 years.
————————————

Been working like a hot damn for me for the past six.

I don’t belittle my landlord, though… He’s a God.
—————————————————————————–

If you live in Cowtown, the GTA or YVR, your landlord has done far better than in you in the past 6 years.

#231 CZM on 06.06.16 at 11:02 pm

Turner Investments is national. — Garth

Sometimes even tropical!