Dog Mail 2

CHINESE FOOD

Back by popular demand. (Man you people need a lot of help….)

Long-time reader & avid believer. I am a thirty-something college educated male, with a girlfriend the same; combined annual income of $160,000 and currently renting a town home in the lovely city of Langley. Both of us are in sales, so location is irrelevant as long as it’s within a reasonable commute to the Greater Vancouver Area.

This lovely modern version of the Canadian Dream was tipped on its side earlier this week when our landlord informed us that he plans on selling (seeing that unit next door sold for $530,000 in 3 days). This has now forced our hand. Just as I was convincing my better half that we stand to profit by waiting for the impending popping of the bubble.

Rental opportunities are scarce, unless you are looking to spend $2700/mth and/or require 5 bedrooms. Has my hand been forced? Do I dump all of our savings into the one thing I preached against just as the savings account is starting to see some commas? Or do we over-extend and rent a 5 bedroom home in the heart of the urban farmland and laugh at all the suckers?

Help! Derek.

Two things to consider. First, financial. Run the numbers. See in what scenario you build net worth the quickest, given the obvious assumption residential real estate in the entire Lower Mainland is on its way to being pooched. And when you calculate, don’t make the amateur mistake of comparing monthly rent to monthly mortgage payment. In buying, you have big closing costs, property tax, insurance, maintenance and, of course, the lost investment power of your entire down payment.

Second, why (in your 30s with job flexibility) would you choose to be saddled with a property and a mortgage in that location? Without a doubt, when the property tidal wave washes back to the sea, it will drain the exurbs first, and the urban core the last. Not only does this put you at large financial risk, but you might end up with an illiquid house, destroying your mobility. There are some good places in this world to be trapped. Langley ain’t one of them.

Hey Garth. We have $300,000 left to our mortgage and 17 years left. My wife and I are debating to renew with 2.49% for 4 years or 2.59% for 5 years.

What would you recommend? Thanks, Corey.

Seriously? You’re writing this grandiose, puffed-up, epic blog to make a 10-basis-point decision? That’s pathetic. Five, of course.

Hi Garth – I am an intermittent reader of your blog and without a search function my question may be redundant but here goes… What are your thoughts about purchasing cottage property in the Muskoka area?  I realize this is pretty general but wonder what you see happening in that market in the near future?

We do not currently own property in TO (unfortunately) and as we are not desperate, refuse to participate in the TO housing madness! Appreciate your thoughts. Thank you, Evelyn.

You’d be far wiser to strip yourself naked and wade into a fierce, Vikingesque winner-takes-all, rape-&-plunder bidding war in 416 than go and buy a cabin by the lake in cottage country. At least urban detached real estate is limited in supply and always enjoys a certain level of demand, while rural properties are infinite, volatile and easily fall out of favour. When a correction comes (and one will), cabins, cottages and hobby farms take it up the rear. That’s because many are bought with financing borrowed against city properties, and in a downturn everybody wants to get rid of debt. So, the rural love nest is punted.

Besides, a half-decent Muskoka place on water will cost you at least four large. And you’ll stay there – what? – three or four weeks a year? So why not just rent a place for a month each summer? Way cheaper. Less risk. Get a grip, Evelyn.

This is a random question but one I don’t know what to do with and I’d appreciate your thoughts (I love the blog). I’m moving from Hamilton to Toronto for medical residency – have to live downtown for work reasons and I will be there for 4 years with the possibility of 2 more depending on fellowships. During this time income goes from ~60k to 85k/year. I have outstanding student loans on a professional line of credit.

I’m currently looking to rent, but it seems most apartments are ~2k/month for a 1+ that can handle me, my dog and wife. I know you occasionally think buying is a good idea, and wonder what your thoughts would be for me? I’m looking at 100,000 in rent over next 4 years, vs. buying the same box for 400k or so. I agree that rates have to go up, and that Toronto real estate is overpriced, but talking to some of the economists I know who work at the big banks they feel housing will stagnate but there won’t be significant declines. Regards, David

With student debt (that it sounds like won’t get paid off soon) plus two dependents, and a temporary posting, why on earth would you voluntarily walk into a mortgage? Besides, you’re looking at this the wrong way. A $400,000 condo with 5% down will cost $1,900 in payments (with CMHC premiums), plus about $400 in condo fees and $250 in insurance and property tax. That at least a $500 monthly premium over rent – or a $24,000 hit over 48 months. To just break even, after four years (taking selling costs into account) you’d have to unload for at least $450,000 – and still face a mortgage break fee.

Meanwhile, thousands of new condos will have flooded onto the market, rates will have risen and your unit could actually have depreciated as a result. So, why on earth would you take the risk when you can live in exactly the same place for hundreds less a month? You claim to hang out with economists? Scary.

We’re both 27 with full time jobs in Toronto. Combined income of $140, 000 with $22, 000 tuition debt. We rent for $1, 000/month and have an excel budget that we follow religiously. Our $65, 000 savings can easily pay off the tuition debt but currently its low priority because for us cash is king, sitting in rsp and tfsa (hedged against maple). The wife is in consulting, servicing the mining and construction industry and layoffs occur at a constant trickle so you can understand why cash flow is important. I’m at a retailer HQ where I’m protected by people’s everyday demands for necessities like food, clothing, drugs etc. so we’re better positioned than most people…like our crazy peers who make less than us and have $500, 000+ homes.

We’re stuck though…both agreeing that we’d like to have children and a house. For some strange reason we’ve both been brainwashed into thinking this is a must have combination.  IMO a condo, townhome or semi-detached would be out of the question since we both grew up in modest rural southern Ontario and can’t imagine paying for overpriced pieces of #[email protected]! So we continue saving and paying rent while people around us ridicule and talk about picking up a property to rent to people like us. I’m a 2nd generation immigrant by the way and know how to penny pinch (thanks to Mom and Dad). I’ve been instilled with a very acute overvalued radar that many in Canada just don’t seem to have. My wife is level headed (a Nova Scotioner) and the only horniness she has right now…well isn’t for housing thank God ;)

Any advice as to what we should do aside from the obvious which is to pay off the $22, 000? That’s just a simple rate of return calculation, transfer and click away in our bank accounts. If you use our story can you keep it anonymous? Thanks, Tom.

You want free advice and anonymity, too? Damn Millennials. Actually, Tom, you have a net worth of $23,000, or enough to buy a Kia. That may be good for a downpayment in Bridgewater or Upper Shubenacadie, but it won’t cut the mustard in T.O. So, your letter is heartfelt but dumb. No, you cannot afford a house. Suck it up.

I wanted to add my voice to the numerous people who owe you a lot of gratitude for what you do here. Comment sections typically bring out the most extreme views and they don’t represent everyone.

Quick summary of my situation:

My lovely wife and I got our accounting designations in Vancouver in 2009 as the feces hit the air mover in the financial world. We were pulling in $100k together and had recently been preapproved for an $800,000 mortgage. Friends were envious of what we could get but between reading your pathetic blog and being generally uncomfortable with such a high debt ratio, we held off enslaving ourselves to a mortgage.

Glad we did. My wife was laid off as the crisis developed and we were able to look for work and move cities in under a month. We went north to Yellowknife for higher pay and greater opportunities than Vancouver could give us. We paid off $50k of student loans in a year and saved a healthy nest egg (because what else will you spend your money on in Yellowknife?).

Fast forward 5 years and we’ve moved to Saskatoon and Edmonton where we’ve seen the housing mania peak. With the dismal rental situation in Saskatoon at the time, we did buy a small bungalow well within our means with 20% down; the mortgage broker thought we were insane given our household income — “You could get a million dollar home on Sask Crescent if you want!” As the commodities started to slow, we saw the writing on the wall for the Saskatoon housing market, sold just in time and moved to Edmonton. The oil glut hit and the company I was working for was clearly going to be in trouble, so we seized an opportunity to move to Australia in 30 days. Something we could never have done if we were tied down by a house.

Looking back, I see friends who barely scrape by with debt and lower wages in Vancouver, now unemployed former colleagues in Alberta, and other friends still trying to sell their homes in Saskatoon at a 20-30% loss after moving away.

Garth, thanks in large part to your very reasonable and logical view of finance and macroeconomics over the years, we’ve been able to get out of debt, see the world, and have $500k in investments and retirement savings before age 40. Without your dissenting voice to encourage our contrarian view, we might very well have made some big(ger) mistakes and wouldn’t be living a dream life in relative financial security.

Please just let the haters hate and keep on doing what you do. Many, many people owe you a debt of gratitude.

And the rest hate me. But thank you.

193 comments ↓

#1 Jimmy on 06.17.16 at 6:23 pm

That’s a lot to read on a Friday afternoon.

Flightaware C-GKBO if you want to follow the Antarctica flight.

#2 Chosen Child on 06.17.16 at 6:32 pm

Hi Garth,

I’m a tech start-up entrepreneur with at least $418593849383 dollars in my piggy bank. My TFSA is maxed and I defecate rainbows and unicorns. Should I invest the money in a low risk, high yield, exchange traded preffered mutual stock with hourly dividends or should I buy a condo? Please help!!!! I am so stressed i think that I might esplode!!!

#3 Brian Ripley on 06.17.16 at 6:36 pm

In case anyone missed it I copied in whole the post from Ken Pazder a Vancouver lawyer who describes one of the keys to the present mania:

http://www.chpc.biz/history-readings/made-in-america

The top end has ignited the animal spirits in the hoi poloi below.

#4 Kelowna on 06.17.16 at 6:38 pm

Let me add my vote to the readers that appreciate your very logical and practical advice each column – quite simply, the haters still don’t get it, despite your ongoing attempts!

#5 not 1st on 06.17.16 at 6:46 pm

Garth, I have been waiting for this moment. Time to call you out.

You are a man, right? Beard, ride a harley? Then you will be big enough to admit when you were wrong.

1. Fed says recovery stalled, 2% growth as good as it gets.

http://www.cnbc.com/2016/06/17/message-from-the-fed-this-is-as-good-as-its-going-to-get.html

2. PM Trudeau confirms the presence of foreign money influence on housing market.

http://www.cbc.ca/news/canada/british-columbia/trudeau-cbc-vancouver-housing-1.3639295

#6 bdwy sktrn on 06.17.16 at 6:46 pm

There are some good places in this world to be trapped. Langley ain’t one of them.
———————————–
what’s the diff between langley and that horsey country place where you flog sugar and saturated fat (and save historic landmarks)
plenty of horses out in langley last time i went out that way.

langley only offers 11.8 months/yr of non winter.
is 20min from the 1st ave exit to downtown most of the time (the new hwy lanes and bridge rock) and just a few more to the n shore. the best of all, is that when you do drive into the city, it’s not toronto.

#7 BOOM! on 06.17.16 at 6:47 pm

Let the haters hate. The ones who have ears, let them hear!!

Garth ROCKS! (hear that?)…

OK, I’m done for today.

M64WI

#8 TurnerNation on 06.17.16 at 6:48 pm

Hilarious. A bunch of yokels moving to the city and want acting like Townies.
Buck up this town is for millionaires.

“Shine your shoes guv?”

#9 Sebee on 06.17.16 at 6:49 pm

Garth,

Latest statistics released by Real Estate boards across Canada show Kia to be gaining in value perception according to MLS Car Price Index, especially when parked in front of new homes. After all, it’s all home buyers can afford after they buy a house now. They predict Kias will continue this Price Index trend into 2017 and have scrubbed data to prove it.

#10 Romeo on 06.17.16 at 6:52 pm

I think I will have Chinese tonight I really hope she brings pizza!

Have a great weekend Garth!

#11 Steven on 06.17.16 at 6:53 pm

Thank you Garth for all your work! You are amazing! Your blog is great and helps us (moist millennials ;-) ) to stay sane!

We are looking to rent an apartment/house in Victoria BC and it is insane (high demand and low supply). Prices are high and I have to arguge why it is not a waste to rent for $2000-$3000 a month instead of buying a $600,000 – $900,000 home.

Thank you again for all your work. Keep it up!
Steven

#12 it’s only Trump and coal (but I like it)…. on 06.17.16 at 6:53 pm

when does your syndicated ‘ask Garth’ column start in the papers?

“The U.S. economy, stuck in a slow-growth pattern that is likely to persist for the forseeable future, may need no more than a single additional rate hike for as long as 2.5 years, St. Louis Fed President James Bullard said on Wednesday.”

so much for the ‘juggernaut’, eh GT…..maybe it’s “the new abnormal”.

personally, I’m waiting for the inevitable ‘event’ somewhere to trigger QE4 as we (globally) continue the negative rate march….

all of this should make the (US) equity market the ‘best bet’ since that’s pretty controlled….haha….

as an aside, it does look like Canadian RE has reached its apogee….
but the downturn will be pretty well mannered….and slooooow…..

#13 ww1 on 06.17.16 at 6:53 pm

1 Jimmy on 06.17.16 at 6:23 pm
That’s a lot to read on a Friday afternoon.

Flightaware C-GKBO if you want to follow the Antarctica flight.

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

Not only did Jimmy get so excited that he missed noticing the are FIRST .. he also failed to provide any context to his post. So here you go :

http://www.calgarysun.com/2016/06/14/antarctic-rescue-underway-by-calgary-airline

#14 Smoking Man on 06.17.16 at 6:53 pm

#1 Jimmy on 06.17.16 at 6:23 pm
That’s a lot to read on a Friday afternoon.

Flightaware C-GKBO if you want to follow the Antarctica flight.
…..

Antarctica is off limits to humans. I’ve let the Nictonite council know. I talked them into making an exception this time.

It wasent easy. .

Got thinking on the drive to Seneca today. Obama realy isen’t that bad. When Bush did false flags real people died.. Bush was pure evil.

But these lefties think guns are the problem. It’s loonatics were the issue lies. There was huge crowd of people standing to cross the street at the 420 and the main road in Niagarafalls. An idiot run a red light a car swerred to avoid it and nearly hit the group.

Neadless to say many ways for loons mass murder.
Just remember hitter dis armed the Jews before sending them to the gas chambers.

When a socialist wants to disarm you. Be afraid. Very afraid…

#15 crowdedelevatorfartz on 06.17.16 at 7:17 pm

@Brazil exPat
Ahhh the news from Brazil just gets better and better doesnt it?

http://www.reuters.com/article/us-olympics-rio-emergency-idUSKCN0Z32EF

#16 WalterE on 06.17.16 at 7:24 pm

#65 Fortune Faded on 06.15.16 at 10:39 pm

Hey blog dogs,
Should you wish to hide the posts of certain users on this forum, I invite you to download my greasemonkey script from the url below. I have defaulted it to hide posts from Mark and Smoking Man, however you can extend it quite easily to include any posters you find annoying or rude. Enjoy!

github link
——————–
This works really good. Everyone should install this.

Sure beats listening to a guy make up stories about being rich etc. The stories about being on a ufo are just the casino spinning after too much cheap booze.

#17 Smoking Man on 06.17.16 at 7:27 pm

#13 ww1 on 06.17.16 at 6:53 pm
1 Jimmy on 06.17.16 at 6:23 pm
That’s a lot to read on a Friday afternoon.

Flightaware C-GKBO if you want to follow the Antarctica flight.

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

Not only did Jimmy get so excited that he missed noticing the are FIRST .. he also failed to provide any context to his post. So here you go :

http://www.calgarysun.com/2016/06/14/antarctic-rescue-underway-by-calgary-airline
..

You ever ask yourself what is a lockhead Martin rocket scientist doing in Antarctica

#18 Give us this Blog our daily Garth on 06.17.16 at 7:27 pm

#6 bdwy sktrn on 06.17.16 at 6:46 pm

There are some good places in this world to be trapped. Langley ain’t one of them.
———————————–
what’s the diff between langley and that horsey country place where you flog sugar and saturated fat (and save historic landmarks)
plenty of horses out in langley last time i went out that way.

langley only offers 11.8 months/yr of non winter.
is 20min from the 1st ave exit to downtown most of the time (the new hwy lanes and bridge rock) and just a few more to the n shore. the best of all, is that when you do drive into the city, it’s not toronto.
——————————–
Sorry Bowdy, I’m with Garth on this one. First, no one said anything about wanting horses. You don’t own horses. No one does. And Langley IS a desolate place… evidenced with your rant describing how fast you can get out of Langley. And the Bridge costs you 8 bucks a day.

#19 Joe2.0 on 06.17.16 at 7:31 pm

I know Garth’s gag reflex may kick in but here goes.
There are places/cities RE markets remain strong even though others tank in an economic down turn.

So you gotta ask your self are you living in one if those areas…

Cause not everyone is…

#20 prairie person on 06.17.16 at 7:36 pm

Rental property went up for private sale a few months ago. 650. No takers. No one in the neighbourhood wanted to try to do a quick flip. Owners paid to have some renos done. Hired a real estate agent. Back on market at 695. Sold at 670. 25 under ask. After renos, agent’s fee, closing costs, they’ll have got less than their original ask of 650. It’s a nice neighbourhood. Good location. House is a 3 bed bungalow. If HAM has come to Victoria, then it hasn’t found our neighbourhood OR the neighbourhood is not upscale enough. OR a lot of the talk about Victoria is just more realtor hype, buy now or buy never, get your money and run, etc.

#21 Perfect Storm on 06.17.16 at 7:37 pm

“Some commas”? From the first one to the next is a pretty feat.

#22 nonplused on 06.17.16 at 7:39 pm

I used to bring my wife and my girlfriend to dinner at the same time but never got more than a 10% discount. Sadly, they broke up and when push comes to shove you have to stay with your wife.

I want to jump in on the topic of kids and houses. I have both, but when I look back on it I realize that holy crap I was lucky to be able to support those commitments (so far). I know that you are supposed to “man up” and have both or the ladies don’t see what you are good for, but really in either case you are forecasting 21 years of financial success when you get into it. These days, that’s hard to see.

These days, a child is a much bigger commitment than a modest house in a non-YVR environment. Dental, school fees, sports, piano, tuition, food, clothes, driving lessons, etc., some estimates are over $200,000 per child if you want to do it to full modern standards. Of course you could do it like my dad did: “You want a bike? Get a paper route!” But that isn’t considered the gold plate standard anymore. So if you don’t foresee having an extra $200,000 grand lying around after taxes over the next 21 years, you are probably being selfish and irresponsible if you have a child.

I’ve watched siblings have children they cannot afford and the result was kids dealing pot before they were 18 and moms dependant on the “bank of grandma”. Dental issues go unaddressed and talented kids don’t get “extra-curricular” activities or any hope of post-secondary education. I hadn’t thought these issues through when I got into it and as I said I got lucky. But to the younger generation thinking about it I would say “Think for yourself. You don’t owe it to anybody until the bun is in the oven (at which point you owe a lot to the bun.) Are you sure you are up for it?”

And yes Garth I am one of the ones that appreciates what you do even if I don’t always agree with you whole-heartedly. Even when you are wrong (according to me, of course you disagree) you at least raise the issues and inspire a lot of conversation and thought. I think this is important because the road to success isn’t as straight forward as it used to be.

#23 For those about to flop... on 06.17.16 at 7:44 pm

Brexit/ Euro 2016 update.

Regarding Stexit/ Lexit the bookmakers made no change to the odds ,not too sure if they have suspended betting due to yesterday’s unfortunate incident.

Its in the best interests of the Stexit side to get this thing over while England is still in Euro 2016.

You see ,England dosen’t just bow out of a competition, it miraculously snatches defeat from the jaws of victory.
Conspiracy theories abound ,as do death threats to the referees and the authorities.

Now,on to today’s action Crowdedelevators Spain spanked Billybobs bunch of cold Turkeys 3-0 in the biggest blowout yet.

Also WalMarks Italy did what you are supposed to do with Sweden and Booms IKEA furniture…put the boot to it.Italy and Spain are both comfortably through to the next round.One can only hope Spain and Portugal go at it at some stage so Brazil expat and Crowded will have something new to argue about.

In the last match of the day,Brian Ripley and his busy Czech Rep.danced with NoNames beloved Crotia,but that game finished 2-2.

Time for a beer…cheers…

M41BC

#24 Henry Olivere on 06.17.16 at 7:45 pm

If we see negative interest rates worldwide then we will see negative dividend yields too.

Maybe stock markets and stock prices will fall 60%, 70%, 80% so dividend yields will stay positive.

#25 Lea on 06.17.16 at 7:52 pm

Bankers selling their homes, what could it mean?

http://www.huffingtonpost.ca/2016/06/16/bank-execs-put-homes-on-sale_n_10508922.html?utm_hp_ref=canada

#26 boonerator on 06.17.16 at 7:54 pm

#11 Steven
We are looking to rent an apartment/house in Victoria BC and it is insane (high demand and low supply). Prices are high and I have to arguge why it is not a waste to rent for $2000-$3000 a month instead of buying a $600,000 – $900,000 home.
————————————
Drive down Larchwood, townhouses 2 / 3 bdrm/ 1800 sq ft. $1600/mnth.

#27 Lee on 06.17.16 at 7:54 pm

#2 chosen child,

We know you’re lying because nobody is worth 400 Billion and if they were they’d probably be smart enough not to buy a condo. Maintenance costs will get you in the end. Looks like some people have already gotten into the sauce tonight. Think it’s getting close to the time to shut this blog down.

#28 steve on 06.17.16 at 8:00 pm

Women and children first:

http://www.huffingtonpost.ca/2016/06/16/bank-execs-put-homes-on-sale_n_10508922.html?utm_hp_ref=canada

#29 TurnerNation on 06.17.16 at 8:11 pm

Welcome to Kanada. Tired of high house prices?

Why not drop by your local Government assisted-dying Centre, or at least a Government weed dispensing store.
All major credit cards accepted (Unlike Walmart).

Tune in, Turn on and drop out.
They’ll stone you when you’re young and able; they’ll stone you just like they said they would.

Everything old is new again

#30 Heisenberg on 06.17.16 at 8:13 pm

“And when you calculate, don’t make the amateur mistake of comparing monthly rent to monthly mortgage payment. ”

Also, don’t make the amateur mistake of ignoring the fact that rent is money you completely kiss goodbye, while a mortgage payment is something you still keep a significant portion of as equity…and in some cases becomes a nice investment and returned to you, with profit, when it’s time to sell.

You kiss goodbye to interest payment, property tax payments, strata payments, increased insurance payments, maintenance payments, closing costs, commissions, mortgage break fee and, of course, a potential non-deductible capital loss. — Garth

#31 Brazil ex-pat on 06.17.16 at 8:16 pm

Three of us are going to Meow Meins tonight to eat for free. Yay !!

#32 Smoking Man on 06.17.16 at 8:17 pm

Hottie to the left, Hottie to the right. And all I’m thinking about is Valentine. The Sherrie always pops into my head whenever I’m a stir..

Got a new key board for my phone. Much better than at the drug addict last one.

Wife was saying, look at room we got tonight. Top floor. And the wine is free.

Yes honey. I do a quick mental calculation on all the loot she blew here. That free wine is cost about 500 bucks.

You only live once. And she’s still cute. Things will change the moment she gets ugly.

#33 Lee on 06.17.16 at 8:19 pm

Is it that simple? Should we all just buy any house in toronto and flip it next year for a 100G profit? Why isn’t everyone doing it?

#34 For those about to flop... on 06.17.16 at 8:25 pm

Forgot to add this link.
There are a few people on this blog that think that I have lost it linking Brexit to Euro 2016.
If you think they don’t care and aren’t linking the two,then so be it.
This story shows that 54% of workers intended on chucking a sickie,just for a group game.

That and the fact that they have been chanting anti EU songs trying to influence people.

Also thanks Gutie and Happy Prarie Guy for your messages…

M41BC

http://www.dailystar.co.uk/news/latest-news/523228/Half-British-workers-will-throw-sickie-watch-England-Wales-Euro-2016-match

#35 bigtowne on 06.17.16 at 8:28 pm

When the vacancy rate for rentals in many large cities in Canada is under 2% for the past decade in most of Canada but the immigration rate has been stuck on max or over 250,000 plus per year you do not need an economist to translate the data.

There is no problem with home prices but there is a problem with huge levels of immigration when the housing and rental units are not available for all Canadians.

T2’s dad Pierre let in less than 50,000 immigrants per year so the country was able to absorb the entrants without any stress on the economy or the infrastructure.

The government dwells on what they want the people to look at not the real problem.

#36 Juan Refrito on 06.17.16 at 8:39 pm

Count me in the grateful camp. A sincere thanks, GT.

#37 Smoking Man on 06.17.16 at 8:42 pm

Looks like a slow night on greater fool. Or maybe the kids Garth hired to serve ice-cream at forks have called in sick and he’s to busy serving ice cream to hit submit.

I hate the word submit. I feel raped every time I agree.

To be young again on a hot summer night. Getting older is so over rated.

Look at my pathetic existence. I hate people for no logical reason. Sitting in a bar getting wasted by myself loathing then for no reason. Thinking about something cool to share with total strangers.

Although I’m not published, may never be but I’m a writer God damn it…. I feel it.

If I could only develop a work ethic. Already I got a killer book cover… The artist is pissed at me and I don’t know why.

My nabour is pissed at me. My kids are pissed at me. The whole God damn universe wants me dead.

#38 Brett in Calgary on 06.17.16 at 8:48 pm

#2 you win comment of the year!!! Absolutely hilarious!!

#39 Andrew Woburn on 06.17.16 at 8:50 pm

Although I have raised doubts about the present state of the Bitcoin/blockchain technology, I think it has enormous potential. Bitcoins are perfect for on-line payments and can be subdivided into tiny amounts. They could help bring in the long-promised era of micro-payments for web services which I hope will eventually rescue quality journalism from the clutches of advertisers and billionaires with an agenda.

There is no doubt blockchain “distributed ledger” technology is attracting a lot of attention.

“The Bank of Canada is experimenting with a digital currency and payment system … based on its own digital currency – the CAD-Coin – rather than hard cash… The bank is working on the project with the big banks, Payments Canada and R3, a New York-based consortium backed by roughly 50 of the world’s largest banks.”

http://www.theglobeandmail.com/report-on-business/economy/bank-of-canada-eyes-digital-currency-with-conceptual-experiment/article30487141/

There are numerous competitors to Bitcoin including a major challenge from Ether and its distributed ledger, Ethereum, a system designed by Moscow-born Canadian math genius, Vitalik Buterin, still in his early twenties.

https://backchannel.com/the-uncanny-mind-that-built-ethereum-9b448dc9d14f#.zaxprn9cc

Buterin and other enthusiasts have succeeded in raising over $100 million to form a venture fund called The DAO to support the advancement of Ethereum which is designed to overcome issues with the original Bitcoin blockchain.

“A new entity called The DAO, based on Ethereum, has raised more than $100 million since late April and will use the funds to support projects in the sharing economy. The DAO wants to be a model for a new kind of organization, created and run using blockchain software rather than conventional corporate structures.”

https://bitcoinmagazine.com/articles/the-dao-raises-more-than-million-in-world-s-largest-crowdfunding-to-date-1463422191

Unfortunately this just happened.

“Ethereum took a drastic dive this morning as news came in that the DAO smart contract address is being drained of ether in an ongoing and developing news story… Millions of ether are moving to an unkown address with some suggesting that it may be a recursive split hack.”

https://www.cryptocoinsnews.com/ether-price-plumets-ethereum-dao-may-be-hacked/

So back to my original question. If the incredibly smart people that can even imagine these systems cannot protect themselves, what chance is there of getting Grannie to pay for groceries with Bitcoin. Bitcoin is the dream of libertarians anxious for a world currency that needs no government. But at this point I would sooner bet on Poloz and the other bankers to win this race. If anyone can.

#40 Like, what-EVER on 06.17.16 at 8:58 pm

Garth, is it just me, or does much of your incoming correspondence take the following general form?

Dear Garth,
[Significant Other] and I are employed in [Industry/Career] , middle-income, and [Training/Education] with [_] dependents and [_] pets. We have $[_] income, $[_] cash, and $[_] debt.

Now Garth, you state regularly that housing can involve risk, but that risk may not necessarily apply to us, right? Our situation is likely different because here in [Wherever] we could acquire a [Style of Dwelling] for about $[_]. This would only involve $[_] in down payment, and $[_] in monthly payment. We’re getting a lot of pressure from [Someone] to buy. Also, nobody ever talks about losing money. Besides, if we plan to stay for [Some Time], wouldn’t it make sense to buy because [Extended Special Justification]?

So what do you think Garth, can you please help us to justify buying?

Sincerely,
[Whoever]

#41 S.Bby on 06.17.16 at 9:00 pm

Heard today my elderly neighbours house sold for 1.9 million. They were asking 1.6 million. 50×120 lot with a tear down in suburban Burnaby. Assessed at 1.1 million.

#42 Smoking Man on 06.17.16 at 9:01 pm

The band at stir. Why are they a poor cover band.

Lack of creativity is what I’m thinking. Or rebels black listed for writing songs critical of the machine.

The machine can’t tolerate criticism. The lefties that teachers trained are the same..

Safe spaces for all. Boaring!!!!

The world ain’t safe if you live your life all out. Or all in. But nothing is more fun than that scenario, with the short time your given.

Why not.

Hence my loathing of humanity…

#43 For those about to flop... on 06.17.16 at 9:06 pm

Joking Man,here’s something to cheer you up…

M41BC

http://imgur.com/sHn6mRJ

#44 ww1 on 06.17.16 at 9:07 pm

#17 Smoking Man on 06.17.16 at 7:27 pm
You ever ask yourself what is a lockhead Martin rocket scientist doing in Antarctica?

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

It did not occur to me to ask. I just assumed that the “Lockheed Martin rocket scientist” went there to do some science and to escape the overwhelming MSM flood of information about YVR & YYZ real estate prices. Might be the only place on the planet one can escape it.

#45 ww1 on 06.17.16 at 9:11 pm

#29 Heisenberg on 06.17.16 at 8:13 pm

.. and, of course, a potential non-deductible capital loss. — Garth
=====================================

Best comment of 2016 (so far) …

#46 For those about to flop... on 06.17.16 at 9:15 pm

#18 Give us this Blog our daily Garth on 06.17.16 at 7:27 pm
#6 bdwy sktrn on 06.17.16 at 6:46 pm

There are some good places in this world to be trapped. Langley ain’t one of them.
———————————–
what’s the diff between langley and that horsey country place where you flog sugar and saturated fat (and save historic landmarks)
plenty of horses out in langley last time i went out that way.

langley only offers 11.8 months/yr of non winter.
is 20min from the 1st ave exit to downtown most of the time (the new hwy lanes and bridge rock) and just a few more to the n shore. the best of all, is that when you do drive into the city, it’s not toronto.
——————————–
Sorry Bowdy, I’m with Garth on this one. First, no one said anything about wanting horses. You don’t own horses. No one does. And Langley IS a desolate place… evidenced with your rant describing how fast you can get out of Langley. And the Bridge costs you 8 bucks a day.

Hey guys,if you have money and a love for all things equine, I believe the best place to live is Southlands ,out near UBC.

I have worked on a few houses down there and there are tons of stables and even some jump arenas.

Sometimes I have to remind myself that I’m not in the country…

#47 Smoking Man on 06.17.16 at 9:16 pm

Getting into the jack now. I feel the UN submit button soon from the black shoe polished beard.

Is this not pathetic. Wifee poor. Into the third thousand. And I don’t care.

Ear buds on…

Crank it dogs

https://youtu.be/2-hkpLXwHUQ

#48 For those about to flop... on 06.17.16 at 9:18 pm

#39 For those about to flop… on 06.17.16 at 9:15 pm
#18 Give us this Blog our daily Garth on 06.17.16 at 7:27 pm
#6 bdwy sktrn on 06.17.16 at 6:46 pm

There are some good places in this world to be trapped. Langley ain’t one of them.
———————————–
what’s the diff between langley and that horsey country place where you flog sugar and saturated fat (and save historic landmarks)
plenty of horses out in langley last time i went out that way.

langley only offers 11.8 months/yr of non winter.
is 20min from the 1st ave exit to downtown most of the time (the new hwy lanes and bridge rock) and just a few more to the n shore. the best of all, is that when you do drive into the city, it’s not toronto.
——————————–
Sorry Bowdy, I’m with Garth on this one. First, no one said anything about wanting horses. You don’t own horses. No one does. And Langley IS a desolate place… evidenced with your rant describing how fast you can get out of Langley. And the Bridge costs you 8 bucks a day.

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

Hey guys,if you have money and a love for all things equine, I believe the best place to live is Southlands ,out near UBC.

I have worked on a few houses down there and there are tons of stables and even some jump arenas.

Sometimes I have to remind myself that I’m not in the country…

M41BC

Sorry ,forgot to separate my comment.
Stella Artois is going down good…

#49 Freedom First on 06.17.16 at 9:20 pm

Smart people to contact you for advice, Garth.

Especially the last couple in your Post today. Also living in gratitude. Really really smart couple.

I too, have taken the road less traveled. I did not even know when I was younger that I’m smarter than I think. I’ve been Blessed.

#50 Valleyboy on 06.17.16 at 9:20 pm

Most advice your giving Garth your basing on higher rates. If rates go negative your going to continually anger the basement waiting renters off.
Yelled even says she won’t rule out negative rates.
Btw My bud just got a two year 2.1% mortgage. Soon we could be looking at 1.99% 5 year fixed mortgages.

US rates will rise in 2016. They will never go negative. — Garth

#51 Andrew Woburn on 06.17.16 at 9:26 pm

China Bear Warns Against Too Much Pessimism

“One of the critical factors that China has going for it is that its savings rate is gigantic. When the Americans had a subprime crisis the overall savings rate in the economy was 17 percent and the household savings rate was closer to 3 percent. In China just now the household savings rate is probably in the mid to late 30s but the overall savings rate is still up there at 49 percent.
What it does provide is potentially a glide path to slower growth longer term, tackling problems that are enough to avoid a really catastrophic financial crisis or system crisis.”

http://www.bloomberg.com/news/articles/2016-06-16/china-perma-bear-walker-says-risk-now-is-excess-pessimism-q-a?

#52 Shirley valentine. on 06.17.16 at 9:31 pm

The studly alien has me burned in his blood filled organ. The is awesome!! Ok now how do I get to stir! So is Mrs. Smokey man into Chinese restaurants. Let’s go. party on studly beast. Keeping slaying those commies. Live for today. Is there any other way.

#53 Smoking Man on 06.17.16 at 9:32 pm

DELETED

#54 saskatoon on 06.17.16 at 9:33 pm

20-30%?

noooooooooooooooo!!!!!!!!!!!!

#55 Nero on 06.17.16 at 9:38 pm

Can someone tell me how to install the Gist script in fire fox?
I have greasemonkey but cant see how to import the script into it.

Sorry, Newby question.

Thanks in advance.

#56 Smoking Man on 06.17.16 at 9:51 pm

#50 Shirley valentine. on 06.17.16 at 9:31 pm
The studly alien has me burned in his blood filled organ. The is awesome!! Ok now how do I get to stir! So is Mrs. Smokey man into Chinese restaurants. Let’s go. party on studly beast. Keeping slaying those commies. Live for today. Is there any other way.
……
I might be able to talk Mrs Smokey into it. She loves food. We are walking shit load now days. the reward for her perfect body right now and the effort . Wrinkles.

What a drag getting old is. More for chic. Dudes give no fk… After all females give us the power to judge.

Does that dress look good on me?

My words not in sync with my thoughts.

#57 Andrew t on 06.17.16 at 9:56 pm

When the vacancy rate for rentals in many large cities in Canada is under 2% for the past decade in most of Canada but the immigration rate has been stuck on max or over 250,000 plus per year you do not need an economist to translate the data.

There is no problem with home prices but there is a problem with huge levels of immigration when the housing and rental units are not available for all Canadians.

T2’s dad Pierre let in less than 50,000 immigrants per year so the country was able to absorb the entrants without any stress on the economy or the infrastructure.

The government dwells on what they want the people to look at not the real problem.

Since when have the majority of immigrants come here with the pallet of crisp 100s needed to get a semi in the Annex?

#58 BS on 06.17.16 at 9:57 pm

#29 Heisenberg on 06.17.16 at 8:13 pm

“And when you calculate, don’t make the amateur mistake of comparing monthly rent to monthly mortgage payment. ”

Also, don’t make the amateur mistake of ignoring the fact that rent is money you completely kiss goodbye, while a mortgage payment is something you still keep a significant portion of as equity…and in some cases becomes a nice investment and returned to you, with profit, when it’s time to sell.

Great analysis. I will add a couple of other shrewd ways to avoid “kissing your money good bye”. I am sure you already know about these.

When you travel to over seas instead of renting a car just buy one. Then transport the car as you travel in a transport plane. You avoid kissing your money good bye in car rental fees. (Obama does this so it must be smart)

Instead of paying the power company for electricity just buy a generator and fuel and the power is free!

Instead of going out for dinner at a restaurant and paying the restaurant owners expenses just buy a restaurant on that night you want dinner and charge yourself nothing. Free dinner anytime you like!

Plus with all of the above you get bragging rights.

#59 Smoking Man on 06.17.16 at 9:59 pm

Some dude in cowboy boots just walked by me with toilet paper stuck in his boots.

How did that happen I’m trying to visualize his steps , its the writer in me.

Yes god I’m not the only freak in here.

#60 WUL on 06.17.16 at 9:59 pm

FLOP:

I note your comment about Southlands. Has your business taken you further south onto Deering Island? I am fortunate enough to be able to stay there with a bud when I travel to YVR. A special spot watching the traffic on the north arm of the Fraser. Near one of the Sedin twins.

And for the commenter who say no one owns a horse? Since the year 2005, I have owned 3 (for the daughter) while answering the slave master bankster on a monthly basis for my house in Calgary.

While hovering just above insolvency throughout that period and to date, I have loved every minute of it.

No landlord.

#61 Julie K. on 06.17.16 at 10:00 pm

Patricia Houlihan (quasi well-known Van city & area RE Agent/Enviro Lawyer – recent notoriety on CBC for her “laser eyes” marketing campaign) tweeted earlier:

“Signs real estate market shifting: homes not selling; sellers RAISING prices after no sale; banks don’t want to lend here; low appraisals…”

When agents start complaining, trouble is already afoot.

#62 ANON on 06.17.16 at 10:01 pm

@ #53 Nero on 06.17.16 at 9:38 pm

Still fiddling, eh? Good one, thanks for the laugh!

#63 Smoking Man on 06.17.16 at 10:17 pm

I have a real problem with the submit button.

Garth can we not re name it to say “Post”.or something that dosent re enforce teacher trained behavior.

#64 For those about to flop... on 06.17.16 at 10:25 pm

#58 WUL on 06.17.16 at 9:59 pm
FLOP:

I note your comment about Southlands. Has your business taken you further south onto Deering Island? I am fortunate enough to be able to stay there with a bud when I travel to YVR. A special spot watching the traffic on the north arm of the Fraser. Near one of the Sedin twins.

And for the commenter who say no one owns a horse? Since the year 2005, I have owned 3 (for the daughter) while answering the slave master bankster on a monthly basis for my house in Calgary.

While hovering just above insolvency throughout that period and to date, I have loved every minute of it.

No landlord.

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

Hey WULLY,pretty sure I have not been all the way down to Deering Island.

I fixed up a house for a family 4 years ago so they could get top dollar for their house.

They got 5…, probably worth 9 now…

M41BC

#65 Johhny on 06.17.16 at 10:32 pm

Smoky you are depressed!
A dump the wife.
B get a life
C hookup with Shirly
D stop drinking
E stop smoking
F get hooked on phonics
G finish the book

#66 Harbour on 06.17.16 at 10:33 pm

#36

I’ll second that

#67 common sense on 06.17.16 at 10:35 pm

#61 Smokie

As Dylan sang “We all have to serve somebody….”

#68 Smoking Man on 06.17.16 at 10:37 pm

Submit is killing me..

The entrapuner in me……

#69 robert james on 06.17.16 at 10:39 pm

When I look at that restaurant sign I am thinking it is very unlikely to see many stray cats with in several blocks of that eartery..

#70 Julia on 06.17.16 at 10:40 pm

Off topic but did anyone see Last Week Tonight last Sunday on financial advisors? Pretty good.

#71 Smoking Man on 06.17.16 at 10:41 pm

#63 Johhny on 06.17.16 at 10:32 pm
Smoky you are depressed!
A dump the wife.
B get a life
C hookup with Shirly
D stop drinking
E stop smoking
F get hooked on phonics
G finish the book
..
Mrs smoking man is my life force.
It’s love, freedom first will never feel.
Perhaps he wins. ..

#72 common sense on 06.17.16 at 10:44 pm

It’s very interesting looking at this blog through 4 Gin and Tonics on a beautiful Southern Ontario evening….

Garth must just shake his head and think “What the hell have I created?”

I now fully understand Smoking Man’s head space.

Btw came within 2″ of an eagle today on a 420 yd par 4 that has given me much trouble over the past 10 years. Keep at it pilgrims… you just never know when success will happen…

#73 Mark on 06.17.16 at 10:46 pm

If the vacancy rate for rentals were so low, there would be significant rent inflation. Yet we’re not seeing rent inflation.

A lot of what has happened, IMHO (and I don’t have stats to back this, so don’t ask) is that the big institutional landlords have largely divested to the mom and pop speculators. At top dollar. Mom and pop landlords are a lot harder to gather statistics concerning, whether it be the doctor or civil servant who owns a couple apartment condo units. Or the big East Indian ethnicity (but Canadian citizen) landlords who have dozens, sometimes 40-50 rentals in their extended families, who may be quite phobic of the government. Even the few Chinese landlords (and there are a few) see little upside to reporting truthful information to the government. Some fear the banks discovering how many units they have.

So through the lens of these flawed statistics, we get the spectre of both a low vacancy rate, and practically non-existent rent inflation. One or the other is wrong. Most likely there isn’t a low vacancy rate, because rent inflation statistics are a lot harder to fake, especially to the common man on the street (or not on the street, since homelessness in Canada is at some of the lowest levels ever!).

#74 Mark on 06.17.16 at 10:52 pm

“Since when have themajority of immigrants come here with the pallet of crisp 100s needed to get a semi in the Annex?”

Most “economic” migrants to Canada arrive with a little more than an apartment rental deposit, first and last month’s rent, and enough for a used Honda or Acura. You can seriously look it up in the stats — average brought to Canada is around $20,000 amongst the economic migrants group. Refugees, of course, bring nothing but their talent and aspirations.

The whole idea that recent comers to Canada are pushing up the Canadian RE market is bizarre. If anything, they’re pushing RE prices down as, without a lot of money, they need to find work relatively quickly. Many end up in the construction industry, as it is one of the biggest employers of newcomers in the Canadian economy for a variety of reasons. Their situation forces upon them a work ethic that is often greater than “home grown” (or as Harper would put it, “old stock”) Canadians because they don’t have a legacy to rely upon.

#75 protea on 06.17.16 at 10:53 pm

#3 Brian Ripley

In today’s post #3 Brian Ripley referred to Ken Pazder a Vancouver real estate lawyer who recently wrote an article on the Vancouver Insane real estate market.
I have used Ken in a few real estate deals and he is probably one of the finest and most honest RE Lawyers in Vancouver.

What blows me away is that not one comment today even makes any reference to Kens accurate synopsis which in my estimation is right on the money as to why we have this insane RE market in YVR. It shows you that most readers of this blog are mostly ignorant and am actually surprised that not even Garth has expressed an opinion on Ken’s article or have even bothered to read Kens article. Folks do yourself a favour and read the most important analysis on YVR RE.My thanks to Brian Ripley for bringing this too my attention. Brian I for one am so disappointed in the Liberals in BC as well as the previous Federal Govt.in allowing this ridiculous RE market to get into this position and that the older I become I become very cynical of most politicians.

#76 ROCK BEATS PAPER on 06.17.16 at 11:00 pm

US rates will rise in 2016. They will never go negative. — Garth

The word never is extreme Garth. I am sure the Swiss never thought the 30 year would go negative, or the Japanese and German’s that the 10 year would go negative.

The market is screaming that the FED is too loose, with a relentlessly flattening yield curve. A couple more months of deteriorating data and the odds of a rate cut will surpass the odds of a rise in 2016. The FED is making the same mistake they made in the 1930s.

#77 For those about to flop... on 06.17.16 at 11:03 pm

#65 common sense on 06.17.16 at 10:35 pm
#61 Smokie

As Dylan sang “We all have to serve somebody….”

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

Hey Common,one of many things I don’t understand about Joking Man.

He swears he hates teachers and yet he comes here each night for a lesson…

M41BC

#78 lukas luo on 06.17.16 at 11:08 pm

In the last scenario, had he taken the $800K mortgage and bought in 2009, his net worth could have easily been > $800K rather than just $500K…sure, you have the benefits of mobility and seeing different places (you can see a lot of places with $300K) but at some point you will want to settle down. My guess is you will probably want to come back to Vancouver. You will be shocked to see how far your $500K will go…hoping for a major correction?…good luck!

#79 Vancouver Solution on 06.17.16 at 11:09 pm

You can’t have low prices and low density.

Taxing foreigners, speculators and empty houses will have very limited effects.

If every single family house lot was automatically rezoned to build up to 4 townhouses (or maybe more), you could solve the unaffordability crisis quite fast. Current homeowners would retain the value of their lots because they could sell to developers who could build higher density.

Reducing the length of time the city takes to approve development, drop development costs charges and the community contribution requirement would go a long way as well.

Much has been written about the federal and provincial governments lack of interest in tackling this problem. But it really is the fault of Gregor Robertson and the Mayors of the other municipalties who are the real cause of the crisis. It’s pretty widely know that Gregor Robertson and company are just patsies to property developers and marketers like Mr. Rennie who have a vested interest in keeping property prices hugely and artificially inflated.

The NIMBY’s might be pissed as well, but you can’t have everything.

#80 Fortune Faded on 06.17.16 at 11:22 pm

WalterE on 06.17.16 at 7:24 pm

github link
——————–
This works really good. Everyone should install this.

Sure beats listening to a guy make up stories about being rich etc. The stories about being on a ufo are just the casino spinning after too much cheap booze.

———————————————————-

Smokeys handle made me work a little harder than i anticipated due to his hyperlink, the time i spent on scripting was well worth it as I no longer need to waste time scanning over his posts.

#81 Fortune Faded on 06.17.16 at 11:26 pm

#55 Nero on 06.17.16 at 9:38 pm

Can someone tell me how to install the Gist script in fire fox?
I have greasemonkey but cant see how to import the script into it.

Sorry, Newby question.

Thanks in advance.
—————————————————-
Once you have the Grease Monkey extension installed in FF you can click on the Raw button on the github page I linked you to. This will prompt you to install the script and enable it in FF. That’s it!

#82 Fortune Faded on 06.17.16 at 11:39 pm

#55 Nero on 06.17.16 at 9:38 pm
————————-
you can also download the zip file and extract the greaterfool.user.js file. then drag that file into a FF tab. You’ll be prompted to install the script.

#83 Pirate Fish on 06.17.16 at 11:46 pm

Drinking seems to be a common theme tonight. I want to add gratitude. Mr. Turner’s wisdom has kept us renting for 12 years in Ottawa and enjoying a life where we have no stress. People have gone from feeling sorry for us to realizing we are on to something. Thanks for your work on this blog and the constant reminders that we aren’t the crazy ones. Now … back to the booze

#84 Kilt on 06.17.16 at 11:53 pm

The last submission – they would have been better off just buying a place in Vancouver in 2009 on 1 salary. They wouldn’t have had to move 4 times and likely would have no problem finding a job if they stayed put and didn’t panic. Jobs came back pretty quick. Plus there home would have appreciated by more than a million since then. Of course, hard to predict what is going to happen when it looks like the financial world is coming to an end. Just pointing out there are two sides to every story.
Kilt.

#85 Life among the Stars on 06.18.16 at 12:08 am

Hey crazy smoking alien dude.. they are looking for new astronauts. can’t you pilot a spaceship already… should be slam dunk

http://www.theglobeandmail.com/news/national/want-a-job-thats-out-of-this-world-the-canadian-space-agency-is-recruiting/article30501026/

#86 Toronto Dweller on 06.18.16 at 12:20 am

Wishing for more HAM really the ones that offer the crazy valuations.

#87 Jon B on 06.18.16 at 12:31 am

Doing a fine job GT. Keep the inspiration coming.

#88 Joe2.0 on 06.18.16 at 12:33 am

DELETED

#89 crowdedelevatorfartz on 06.18.16 at 12:49 am

hmmmmmmm
latest NEWS from Brazilia!

The TOURISM Minister has resigned! Less than 45 days before the Olympics begins. Something about a $500,000.00 bribe from Petrobras…..

THEN we hear that Russian “athletes” have been banned for doping…..

One wonders if the new subway system will be finished before the Americans drop out…..citing “Security concerns” or “Health concerns” ( both valid concerns considering the rapid meltdown of the corrupt state and violence).
Poor Brazil…. just didnt know when to quit…….
Never mind REAL currency…..Etherium beckons codemonkeys…….

#90 crowdedelevatorfartz on 06.18.16 at 12:51 am

Whats next Brazil Expat?
Russia ExPat?
China ExPat?
Or….right.
Its all about the hot babes…….

#91 crowdedelevatorfartz on 06.18.16 at 12:56 am

I’m so pleased that someone out in cyber-blog-dog-dum nominated me as “Spain” in the euro2016

http://www.google.ca/url?url=http://www.smh.com.au/sport/soccer/euro-2016-spain-score-goal-of-the-tournament-in-turkey-rout-20160617-gpm6xa.html&rct=j&frm=1&q=&esrc=s&sa=U&ved=0ahUKEwit8-6V5LDNAhVL8WMKHZUVA2UQqQIIGDAB&usg=AFQjCNGZm5Uxvx0Zo23s0m6BNnXM2DbF2A

I’m brilliant even when I dont have a clue about “football”…….

#92 ulsterman on 06.18.16 at 1:32 am

My lovely wife and I got our accounting designations in Vancouver in 2009 as the feces hit the air mover in the financial world. We were pulling in $100k together and had recently been preapproved for an $800,000 mortgage. Friends were envious of what we could get but between reading your pathetic blog and being generally uncomfortable with such a high debt ratio, we held off enslaving ourselves to a mortgage.

So in 2009 you could have bought a n Burnaby or East Van house for 800k that probably had a suite in it to subsidize your mortgage. Now it would be worth double that and you would have spent 7 years paying down principle at the lowest rates in history, yet you congratulate yourself for not doing this? You could be in Australia NOW with an extra $800-900k tax free in your pocket.

#93 betamax on 06.18.16 at 1:35 am

#6: “langley is 20min from the 1st ave exit to downtown”

From exit to exit with no traffic, but no one lives and works exit to exit.

I have to allow for 45 mins to get to downtown non-rush hour, and I live in Burnaby, so your 20 min estimate is a joke.

#94 Love My Kia on 06.18.16 at 1:47 am

9 Sebee on 06.17.16 at 6:49 pm

Garth,

Latest statistics released by Real Estate boards across Canada show Kia to be gaining in value perception according to MLS Car Price Index, especially when parked in front of new homes. After all, it’s all home buyers can afford after they buy a house now. They predict Kias will continue this Price Index trend into 2017 and have scrubbed data to prove it.
=================================
Don’t need to be parked in front of a new home for that,

http://www.cheatsheet.com/automobiles/7-reasons-why-buying-a-hyundai-or-a-kia-could-be-a-smart-decision.html/?a=viewall

#95 Balmuto on 06.18.16 at 2:09 am

#73 Mark

“If the vacancy rate for rentals were so low, there would be significant rent inflation. Yet we’re not seeing rent inflation.”

Rent inflation is alive and well in Toronto:

http://www.theglobeandmail.com/real-estate/the-market/toronto-condo-rents-soar-68-in-first-quarter-report/article29628481/?service=mobile

#96 How to Search Site Mr. cottage property in the Muskoka area on 06.18.16 at 2:54 am

Using Google Chrome and let’s say you want to search The Greater Fool web site for Garth’s “Rule of 90”, type this into the Address Bar:

Rule of 90 site:www.greaterfool.ca/

Then press Enter or click the Search button.

So, type text you want to search for first, followed by a space and the word site and a colon (site:), and then the web site address.

Must have been a Moister…oddly, used only 22 times by G (Rule of 90 used 987 times).

#97 NEVER GIVE UP on 06.18.16 at 3:12 am

Now is the time Politically to deflate this Bubble.

If T2 waits there will not be enough time to get the country recovered before the next election.

Now or Never. Erase the sins of the Harper regime.

Home should be for living not a wild futures market.

The Chinese turn everything into a futures market! I import items of steel.
A few months ago the Chinese steel spot price went on a wild ride upwards. 2 of my suppliers raised prices so high I cancelled orders.
Now the Steel price in China is pretty close to normal due to regulators cooling down the market.

Speculators are like pit bulls and there are too many of them. Wherever they see a market in an upward momentum they attack!

Real estate is no different. It is just that our government has given rampant speculation tacit approval by defaulting on doing nothing.

Politicians own homes as well and love the extra boost in tax free income. Their motivation to do nothing is as shallow and pathetic as that, believe me!

#98 NEVER GIVE UP on 06.18.16 at 3:32 am

Young People remember that your Liberal BC Government and The Harper Government has profited politically and financially, very handsomely on your misery.

Lets hope The present Government will do something about it.

Nothing less than a complete halt to the gaming of our real estate will do.

If nothing is done then throw the bums out on the next election.

#99 Metaxa on 06.18.16 at 3:46 am

@ Fortune Faded:

That is God’s work you do, thanks.

@ Garth:

Ditto

There is a saying that needs a bit of attention.
Folks think that it is “there are a few bad apples in every barrel”
It is used often to excuse police behaviour.

What the saying in its fulsomeness is really saying is that a few bad apples in the barrel soon spoil the entire barrel

Multiple posts, one after the other in this comment section alone. None of them on topic, none of them of any educational use to anyone seeking any information on current matters financial in Canada.

That is called flooding and is widely considered rude in online communities. I consider it rude to our host who seemingly puts up with it to honour his no censorship stance.

So…a rude man, a bully, who posts ad nauseaum about the colour of the Cheerios he puked up on a low end casino floor after a same sex transformation in the bathroom or whatever other drivel occurs to him is a bad apple in my book.

This comment section could be so much more, eh?

And Smoking Man, you commented on how far I got in school in another post…I was educated at St John’s Cathedral School for Boys outside of Selkirk, Manitoba. The teaching order was High Anglican and were called the Company of the Cross. Ted Byfield of Alberta Reports fame was my history teacher. google it up, was a fantastic time.
My university for underegrad was St Andrews College, again an Anglican outfit, affiliated with the University of Saskatchewan, Saskatoon campus. (this was before the split into Saskatoon getting it all and the Regina campus becoming the UofR.) My mentor and advisor was a Jesuit priest who would rip you to pieces, spiritually, emotionally, physically (on occasion) and then allow you to put yourself back together. Warriors for God we all thought.

That is how I became a roadie for a little rock and roll band called the Troggs and toured with them all across Canada and the US. Wild Thing, eh? LSD was still legal, each city was a new level of debauchery and that is how I ended up taking a MBA from Wharton. Want to see a scan of my diploma?

I, in fact, am a published contributor to a book that still, 30 plus years later sends me a residual cheque for a few dollars each year. You are not I understand.

My user name? I was on a beach in Greece when everyone gasped and left for another island because Leonard Cohen was there. A guy approached me and asked if he could have a drink with me, conversation developed,I ended up spending a week with the heir to the Metaxa family business, the brandy, the ouzo, the hotels, the really rich. Was nice. Came home with the western Canadian distribution rights to the booze part. Sold that to Seagrams. Look this up if you’d care, I’m sure the Seagrams purchase of that product line exists online somewhere even tho it was before Internet as we know it.

My point?
Nothing you have to say is of any importance to me because I’ve done ten times the drugs, ten times the women, ten times the booze, ten times the making money (only for real in my case), ten times the adventures as you have and I did it without even trying
It just happened.

You try too hard while lacking the intellectual curiosity to make it remotely interesting to all but a select few fans. Emphasis on few.

That is why people write scripts and offer them freely to block your posts from their stream.

By denying the innocents murdered at Pulse their due, by removing the survivors rights to mourn unencumbered by idiotic conspiracy theories you have crossed one of my lines.

Posting that hateful YouTube link denies them their agency, you don’t get to do that, not while I’m able to post.

So…thoughts?

Make them good, please. Use some big words, I tire of reading at a fifth grade level when I glance at your stuff.

#100 Known as Drew on 06.18.16 at 6:47 am

Your last correspondant is moving to Australia.

I hope they keep their levels of common sese up and don’t buy here either. Vacancy rates may be low (<2%) in the major capitals but if you hunt around you can do OK.

#101 BillyBob on 06.18.16 at 6:56 am

I decided to jump on the “I don’t want to have to acknowledge anyone’s opinion but my own” bandwagon and install this script.

Except I went a different way: I configured it so I can ONLY see Smoking Man, WUL, and BOOM’s comments.

Perfect. Now I don’t even have to see all those other losers.

#102 "They're All Gonna Laugh At You" on 06.18.16 at 7:14 am

“.. and, of course, a potential non-deductible capital loss. — Garth”

I’d say ‘non-taxable’ capital gains have ‘Trumped’ that one for a looooooong time now…….

stay tuned….

hey GT, maybe an Iron Butt rally would give you some better ‘perspective’…..

#103 jay on 06.18.16 at 7:16 am

https://twitter.com/realevancouver

#104 Freedom First on 06.18.16 at 8:19 am

#71 Smoking Man on 06.17.16 at 10:41 pm

#63 Johhny on 06.17.16 at 10:32 pm
Smoky you are depressed!
A dump the wife.
B get a life
C hookup with Shirly
D stop drinking
E stop smoking
F get hooked on phonics
G finish the book
..
Mrs smoking man is my life force.
It’s love, freedom first will never feel.
Perhaps he wins. ..

==

Of course I win Mr. Smoking Man!?!?
I’m first, I love my mom and cows, my cousin is hot, I’m in love with three women right now…which I’m pretty sure is mutual, everybody wants to be like me!

#105 RANDY on 06.18.16 at 8:41 am

Everything is rigged. Negative Interest rates are inevitable. The Brexit vote is rigged.

#106 down and out on 06.18.16 at 8:53 am

Thinking about inflation numbers and fed refusal to move off ” the economy is still weak so no rise in the prime rate.” My question is when the fed or BOC is looking at prices and I understand they factor out big jumps in their basket of items until proven it is not a one time monthly fluke but do they look at the average monthly wages which have or seem to be stagnant with the exception of government jobs . Condensing my thoughts is the cost of living seems to be holding but the many household sees it rising because of stagnant or falling wages ( unemployed,hours cut ,job losses etc.) and fed just sees COL under 2% and ignoring wage drops knowing there is no extra earnings or money to spur growth but almost wishing for a make believe rise in economic activity in next months GDP. .No wonder why I believe it will take an event of some sort to move us economically . I may be putting my trust in government COL figures which are not getting the full input from the economic picture on the street.

#107 Conspiratard on 06.18.16 at 9:06 am

DELETED

#108 Wack on 06.18.16 at 9:35 am

Mark 73, not sure what part of the country you are from? But, rent inflation is very alive and well in the Fraser Valley right through to downtown Van! Hugh price increases and more people than housing available. As RE prices have surged landlords are also cashing in and selling leaving an equal number of renters unable to afford buying in this market and struggling to find new rentals. When they find new rentals, the rent price is reflected in the new high price of RE! Not a fun time to be either a renter looking for a place or someone who does not already own RE and wanting to buy some.

#109 Jetbug on 06.18.16 at 9:42 am

#92 ulsterman
——————–
Well said. You can be prudent and still be wrong, for a long time.

#110 b riding dirty on 06.18.16 at 10:10 am

Always with picking on the last Caucasian dominant yvr community of Langley. Garth Canada when I grew up (33 now still may not be a grown up though) was a fantastic mix of culture that came together over being one thing. Canadian. Now in almost all parts of the lower mainland most communities, schools have lost that. If you are white and want to have your kids to be not the only one in his class who is Langley is perfect place to move. And as for rent look into how tight the city has clamped down on rental houses and property’s. Insane what they request and put in place to be a home owner with a suite. But I am sure you will just call me a idiot and racist and delete this even though I am only one those things. Have a great weekend as I know I will checking out the beautiful Fraser river! Ps that’s a joke

#111 Caught on 06.18.16 at 10:23 am

Cheap mansions for sale in Niagara. A bear market in housing will make them even cheaper.

https://www.realtor.ca/Residential/Single-Family/16763778/1541-HAIST-Street-Fonthill-Ontario-L0S1E0

#112 not 1st on 06.18.16 at 10:57 am

US rates will rise in 2016. They will never go negative. — Garth

—-
Umm Garth, real interest rates are already flirting with negative territory. Likely fully negative this year.

The Fed will never go negative. But if I’m wrong, we will be in depression. Of course, I’m not. — Garth

#113 Still employed in AB on 06.18.16 at 10:58 am

Very sad in Grand Cache
“Moulun’s own home was appraised at $282,000 this year but he predicts it will be worth $140,000 by the end of the year.
“I would love to sell my house because of the way Grande Cache is right now, but there’s no way I’m going to lose my $140,000. So I’m going to stick it out for the long haul here, until hopefully the coal mine returns.”

http://www.cbc.ca/news/canada/edmonton/alberta-coal-town-grande-cache-may-no-longer-be-a-town-1.3641310

#114 Dan Hassen on 06.18.16 at 11:07 am

To #50 Valleyboy

Enjoy your low interest rates and negative interest rates now because when Canadian real estate gets wacked your whole finances will become negative.

Lowering interest rates were supposed to be to have to strong economies and stock markets but how that worked out for the last 20 years or so.

The TSX was 11,700 in 2000 and now is only 13,880. Gone are the days of 10%, 15%, 20%+ returns in mutual funds and stocks like in the 1980’s and 1990’s.

They screwed it up big time that is the central planners, FED, ECB, Bank of Canada, Bank of Japan, Bank of Australia and their governments etc. etc.

#115 Brazil ex-pat on 06.18.16 at 11:12 am

DELETED

#116 WalMark of Sadkatoon on 06.18.16 at 11:14 am

#106 Wack on 06.18.16 at 9:35 am

rent inflation and out of control real estate price increases only happening around YVR and YYZ

#117 Damifino on 06.18.16 at 11:17 am

#106 Wack

As RE prices have surged landlords are also cashing in and selling leaving an equal number of renters unable to afford buying in this market and struggling to find new rentals. When they find new rentals, the rent price is reflected in the new high price of RE!
——————————–

And yet, one inescapable fact remains. Landlords are not getting the return they need to justify the capital investment they make.

That’s the crux of the whole issue. In a world of cheap money, some are able to borrow their way into a property investment but that same world does not produce enough well-healed renters from which to extract a profitable rent.

So, in Vancouver and Toronto at least, the land investor absorbs that reality until he can sell for a capital gain.

It can’t go on forever, but in the meantime, rents will be less than “what they should be”, whatever they are.

That, in a nutshell, is why I’m now out of the RE game.
It’s way too risky now. If I want risk, there is always the local casino. Plus, you can get a really cheap hamburger there.

#118 jess on 06.18.16 at 11:37 am

…”in the 1920s tax returns were public record”

a 1974 rhyme?

http://www.thedailybeast.com/articles/2016/06/15/new-evidence-donald-trump-didn-t-pay-taxes.html

#119 Boirsly buzzard on 06.18.16 at 11:58 am

Garth

Your blog is quickly deteriorating into a financial Dear Abby format….bring back the good stuff and enough of the advice column stuff to these dysfunctionals please!

If you cannot learn from the experience of others, it is you who are lacking. — Garth

#120 A box in the sky on 06.18.16 at 12:05 pm

#24 Henry Olivere on 06.17.16 at 7:45 pm
If we see negative interest rates worldwide then we will see negative dividend yields too.

Maybe stock markets and stock prices will fall 60%, 70%, 80% so dividend yields will stay positive.
———————–

No offense but you’re really stupid

#121 For those about to flop... on 06.18.16 at 12:08 pm

m
I decided to jump on the “I don’t want to have to acknowledge anyone’s opinion but my own” bandwagon and install this script.

Except I went a different way: I configured it so I can ONLY see Smoking Man, WUL, and BOOM’s comments.

Perfect. Now I don’t even have to see all those other losers.

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

That’s too bad ,now you won’t see me call you a prick…

M41BC

#122 TurnerNation on 06.18.16 at 12:23 pm

Metaxa get over yourself. I enjoyed that vid, and yes a large part of our “news” is of 100% fabrication for mind control.

There’s 7 billion people out there. We dodge death every day, from tiny pathogens to great big buses.
Likely a few 100,000 died this morning. Ain’t no one gonna cry when your’re gone, neither for me.

To survive 1 minute in this experiment means a full life lived (we’ve all exceeded).

#123 TurnerNation on 06.18.16 at 12:31 pm

And the fact of anyone doing hard drugs indicates they’ve sunk to incredible lows and are complete mindless followers. Never even in my lowest lows in life have I reached for false spirits (pharmacology).
This indicates what a weak connection one must have to the real omnipresent truth which with its relentless pounding lays down the track known as life. To diverge from here means certain death. Sounds like some already are living that.
The nonsense news fills their void.

The beat goes on.

#124 WUL on 06.18.16 at 12:57 pm

I am feeling better now.

On Friday, June 17 Garth said in response to #90 Noel:

“Frugality does not fuel the economy nor create jobs.”

Who knew??

Apparently, for 40 years I have fuelled the economy and created jobs.

I take back everything negative I have ever said about Thatcher and Reagan.

#125 conan on 06.18.16 at 12:58 pm

Re: #89 crowdedelevatorfartz on 06.18.16 at 12:49 am

Venezuela not looking good either. My guess is we end up turning Mexico into a buffer zone. Sort of what Russia wanted Ukraine to be. Anyone else noticing that the dial is being turned down on Russia?

#126 Red Deer Rob (Now in Toronto) on 06.18.16 at 1:04 pm

Just an update for those who replied to me a couple weeks ago.

With the ailing energy industry in Alberta work prospects have been scarce for this oilfield worker. Two weeks ago I decided to pack it up and move. Monday I’ll be starting at a company in the GTA, albiet for a reduced wage. This transition isn’t easy but at least I’ll be working again soon and hopefully get back on track to investing. Thanks for the encouragement!

#127 Smoking Man on 06.18.16 at 1:05 pm

#97 Metaxa on 06.18.16 at 3:46 am

For you to write that Smoking Man inspired essay at 3 am is a tenement to my gifted writing skills.

In the end we are all just worm food… Get over yourself.

I will give you this, unlike teacher you know how to break up sentences.

I award you an “A” for that.

#128 Joe2.0 on 06.18.16 at 1:14 pm

83 piratefish

Chances are if you bought a place 12 years ago you would of accumulated a substantial equity in the property considering what’s happened in RE.

I speak from experience having seen properties double in value or more over that period, depending on location of course.

Unfortunately all the cheap money out there has inflated housing prices while deflating our cash in the bank.

And I’m not all that comfortable with how the Dow, TSX are currently performing.

The middle class is being choked out.

#129 Andrew Woburn on 06.18.16 at 1:23 pm

If you want to know how dumb Canadians really are, and how badly we are served by government, this takeaway from the Walmart-Visa fight says it all:

“At Wal-Mart, Visa fees to merchants in Canada are an average of 1.5 per cent of purchases, compared with about half that proportion (0.75 per cent) in the United States, according to sources, and one-fifth (0.3 per cent) that amount in Britain, where fees are regulated. Those fees in the European Union were set last year at at least 0.3 per cent.

“That’s the new standard for the world,” according to an industry source who is familiar with payment issues.”

http://www.theglobeandmail.com/report-on-business/wal-marts-visa-fee-fight-signals-market-shift/article30511683/

#130 BS on 06.18.16 at 1:43 pm

Kenneth Pazder the RE Lawyer who wrote the article COOLING OFF THE BC REAL ESTATE MARKET FROM THE TOP DOWN may have better insight than most on the Vancouver RE market. According to his Linkedin page “to date, we have successfully closed over 29,671 sales and purchases and upwards of 60,000 mortgage refinances.” That is a lot of Vancouver RE transactions to be involved in.

His take is foreign money comes in only to be washed in a RE transaction and then moved out of the country shortly after. The house flip is just a money laundering technic.

In my view, this lunacy is being fueled to a large extent by foreign money which is pouring into the Lower Mainland at an unprecedented rate and pulling the prices UPWARDS from the top end…

While it is reported that foreign ownership may be as little as 3-5% of the housing stock that is more than enough to affect the entire market adversely -and it has done so in spades as few can now afford to own a house in Vancouver and even condominium ownership is becoming a stretch…

As most foreign buyers have local realtors who are well aware of the market prices, the only explanation which seems to make any sense is that some foreign purchasers are using the Canadian real estate system to launder their money.

Once a house is purchased in BC the seller has effectively washed it and it can be moved anywhere in the world easily by selling the property (as the seller then has the contract of sale and all the documents necessary from the lawyer’s office to “prove” that his funds came from the legitimate sale of Canadian real estate). No foreign country will look past the most recent transaction to confirm the legitimacy of the funds.

In the criminal world, the fee to launder money can be 50% or more. In Canada, it seems to be NIL.

This example shows how silly things have become:

A lawyer in our office recently had the same experience in BC Supreme court on a foreclosure sale. The offer the court was asked to approve was $1.5M and a six or seven other buyers showed up at the hearing. As is the court’s practice, everyone was advised of price of the original offer and given the opportunity to bid or re-bid in a sealed envelope. The Master opened the sealed bids at $1,55M, $1.65M, $1.725M, $1.9M and the WINNER was $3.1M!

It would appear that the winner wanted to pay AS MUCH AS POSSIBLE.

https://www.linkedin.com/pulse/cooling-off-bc-real-estate-market-from-top-down-kenneth-pazder

T2 appears to be committed to doing something about Vancouver RE. Does T2 shut this down?

#131 Blacksheep on 06.18.16 at 2:22 pm

Metaxa # 97,

“By denying the innocents murdered at Pulse their due, by removing the survivors rights to mourn unencumbered by idiotic conspiracy theories you have crossed one of my lines.

Posting that hateful YouTube link denies them their agency, you don’t get to do that, not while I’m able to post.”

“So…thoughts?”
—————————————–
OK…. I have listened to the media for almost a week and have yet to see the following topic discussed.

Why in the hell, was the LBGTQ community treated like lepers by the EMT services of Orlando city?

The Orlando Police / Swat dept. on scene, heard 100’s of shots fired before ending this horrific attack three hours later and had to be expecting mass casualties.

Why was there not, multiple ambulances waiting, close to the Pulse club ????

Was it the Fire Chiefs call?

Dispatch level, or did the EMT staff simply refuse to attend for personal ‘moral’ reasons?

Whatever the excuse, this kind of flagrant prejudice is simply inexcusable. I don’t understand why the mainstream medias not all over this important story, but we can at least start talking about events like this in alternate media if we want to effect real change.

Who knows how many more died, due to inept action by Orlando Emergency Services.

#132 WUL on 06.18.16 at 2:34 pm

Before I get back to the US Open on TV, I have good news from Calgary.

Yesterday I had 3 reasons to be happy that I have a shack in the SW quadrant of Cowtown.

Today I have 4.

My darling wife takes a daily bike ride from home around Glenmore Reservoir while I sit forlornly in Ft. Mac facing a 9 hour drive with the pedal to the firewall to get back into her loving arms.

She emailed me a picture of a moose. I responded, “Where did you see the moose?”

She responded:

“Over on the west side of Weaselhead. She was running away from something with her calf. She jumped the chain link fence and crossed the bike path but her calf couldn’t/wouldn’t jump. So, she was getting agitated and all the bikers and walkers were stopped. We phoned Fish and Wildlife but they said they were busy with a grizzly in town, so if they came they’d just have to “euthanize” them. Finally momma walked back to the fence and very easily, without taking a run, jumped back over to her calf.!!

And yet, Statistics Canada reports that 67% of Canadians want to own a condo in Yaletown.

#133 bill on 06.18.16 at 2:54 pm

#106 Wack on 06.18.16 at 9:35 am
perhaps you should look harder?
2 suites were for rent here in kits -took us over a month to get them rented. fresh paint in both with a couple of upgrades here and there.
while visiting a mate in marpole [he of the easthope engine sitting in the front room of his apt – the twin…the single is in parts here and there.] I noticed there was a few ”for rent” signs as well.
in the apt rental business we have definitely seen the effects of all those condo’s being sold.
last year or the year before we had a couple languish for 2 months as I recall.

#134 Mark M. on 06.18.16 at 3:04 pm

The Fed will never go negative. But if I’m wrong, we will be in depression. Of course, I’m not. — Garth

Is Garth trolling his own blog? Garth you have been wrong on the US recovery and interest rates for years.

As far as there never being another 2008 in our lifetime, the next 12-18 months will prove you wrong on that too.

Gold? Garth, you will be wrong here as well.

The conventional wisdom is to claim you are wrong about Canadian real estate, but on that you were just early.

The US economy is fine. No 2008 is coming. Gold is a waste of time. And American rates will be higher this year. — Garth

#135 Terry on 06.18.16 at 3:06 pm

Here’s a good laugh for everyone!

Are you kidding me???? 83% of Canadians are on track for a comfortable retirement????

http://www.cbc.ca/news/business/retirement-on-track-for-83-of-canadians-mckinsey-survey-1.2951518

“A couple with two income earners and a constant combined income of $40,000 or less throughout their working life would be able to maintain their standard of living in retirement based solely on income from GIS, OAS and the CPP/QPP,” the report notes.” A combined income of $40K = poverty. Some report. — Garth

#136 Ed on 06.18.16 at 3:06 pm

Uh oh; now the Brit’s are drinking our koolaid:

https://www.theguardian.com/world/2016/jun/17/canada-housing-prices-vancouver-asia-justin-trudeau

#137 Lee on 06.18.16 at 3:43 pm

#128 BS

That only works if the $3.1 million buyer holds for years. Otherwise hell just lose a ton on the flip.

#138 Metaxa on 06.18.16 at 4:01 pm

#129 TurnerNation
…get over yourself.

# 175 Smoking Man
…get over yourself.

well, sure, OK…I guess.

After you, of course, being a polite Canadian and all.

#139 conan on 06.18.16 at 4:06 pm

Smoking Man’s writing skills have improved since I joined Pathetic Inc. It is amazing when you think about it.
I am going to say some things that he is not going to like….

Orange cat on head guy is not going to win POTUS. I am willing to put a beer cap on this.

Don’t wont worry about Green Screens, as it was just easier to tape her in the studio , then white lie about it. Does not mean it’s a conspiracy.

Look of shame? I think the guy is just tired after carrying injured buddy, and 12 drinks in belly at same time. I think he is about to puke myself.

The injured people are “lost with their friends” because the triage unit is at Pulse. They need to go there to get help. In this case it was “wait”, because that is where triage would place them. Guess what? They know that already. Google triage

I am looking forward to these upcoming American elections. I find them fascinatingly bad.

#140 Tony on 06.18.16 at 4:44 pm

Re: #2 Chosen Child on 06.17.16 at 6:32 pm

AMD just got upgraded and with interest rates turning negative next year in America their 1.5 billion dollar debt will be financed at a lower rate. The stock has a big, big shot at hitting 40 dollars U.S. again (forget 6 bucks) if the NASDAQ can stay above the 2,000 level and the DOW stays above the 8,000 level. Look for the stock to hit 6 dollars before the Brexit vote.

#141 Metaxa on 06.18.16 at 5:12 pm

Don’t wont worry about Green Screens, as it was just easier to tape her in the studio , then white lie about it. Does not mean it’s a conspiracy.

Those are not green screens, they are the white reflectors they use to direct ambient light onto the subjects being filmed. To fill the frame with lumens, not rely on natural light to fill every area.

The same thing a photographer uses to bounce the light from a flash where she wants it to go.

Without those reflectors Matt would have bags under his eyes, shadows under his nose, etc.

Common everyday photo equipment that those lacking in critical thought skills while suffering a particular kind of dissociation or break from reality would use to advance their own sick theories at the expense of real people who were slaughtered.

#142 DON on 06.18.16 at 5:19 pm

#123 conan on 06.18.16 at 12:58 pm

Re: #89 crowdedelevatorfartz on 06.18.16 at 12:49 am

Venezuela not looking good either. My guess is we end up turning Mexico into a buffer zone. Sort of what Russia wanted Ukraine to be. Anyone else noticing that the dial is being turned down on Russia?

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

I’m watching the push against both Russia and China. Why the push? I have my suspicions. Smoking Man watches this closely as well.

Smoking Man…??

#143 Metaxa on 06.18.16 at 5:21 pm

And I just caught this gem:
For you to write that Smoking Man inspired essay at 3 am is a tenement to my gifted writing skills.

1) Time zones, how do they work?

2) Its a testament to your gifted writing skills that you don’t seem to know or care of the difference between tenement and testament.

#144 DON on 06.18.16 at 5:22 pm

#124 Red Deer Rob (Now in Toronto) on 06.18.16 at 1:04 pm

Just an update for those who replied to me a couple weeks ago.

With the ailing energy industry in Alberta work prospects have been scarce for this oilfield worker. Two weeks ago I decided to pack it up and move. Monday I’ll be starting at a company in the GTA, albiet for a reduced wage. This transition isn’t easy but at least I’ll be working again soon and hopefully get back on track to investing. Thanks for the encouragement
*****************************

Good Luck Man!

My BIL came back from Red Deer area a year ago, CALFRAC – they still have work but he read the writing on the wall. I know the move is tough…about to take one as well…in the end it will have been worth it = to get back to investing.

#145 unbalanced on 06.18.16 at 5:30 pm

Metexa–don’t waste your time debating with egos.

#146 Tony on 06.18.16 at 5:58 pm

Re: #133 Terry on 06.18.16 at 3:06 pm

Meanwhile 95 percent will either retire flat broke or will work until the day they die in America. It can’t be much different in Canada. I think he meant to say 83 percent of Canadians will not have enough to retire on.

#147 conan on 06.18.16 at 5:59 pm

Re: #140 DON on 06.18.16 at 5:19 pm

NATO just got jilted by Germany and I expect the dial of aggression against Russia to be turned down soon.

The Europeans are closer to the heart of the matter when it comes to “Operation Ukraine.”

I don’t think Italy is a big fan of how Libya turned out either. Kind of sad when NATO itself becomes a victim of poorly thought out Neo Liberalism.

NATO is supposed to be Rock and Roll, not “WTF?”

http://www.reuters.com/article/us-nato-russia-germany-idUSKCN0Z40LE

#148 For those about to flop... on 06.18.16 at 6:27 pm

Brexit/Euro 2016 update.

The bookies are now sliding towards Stexit now quoting 70/30 in the stay camps favour.
England ,Wales and Northern Ireland are due to play one more game before the referendum before the knockout stage but with the spread this wide it is hard to see Lexit getting its numbers if the bookies have it right.

This competition is so contrived now some of the teams that finish 3rd out of 4 teams will still go through as the best losers just so Uefa the governing body can make more money.

More games ,more revenue.

In the first game of the day Marks Belgium finally got their sales mix right and beat Smoking Mans hungover Ireland 3-0

Next up WULLYS Iceland decided it didn’t want to win and scored an own goal late on the share the spoils with the hungry, hungry hippos from Bdwy Sktrn’s Hungary 1-1.

Finally Andrew Woburns steady as she goes Austria and Brazil expats Portugal played a 0-0 snoozefest in only the second game in the tournament without a goal.
This group has yet to wake up yet but at least two will go through to the next stage regardless.

Red Deer Rob…good luck in your new chapter…

M41BC

#149 Nero on 06.18.16 at 6:30 pm

#81 Fortune Faded,

Thank you for the tip and the script.

See ya in hell Smoking Douche and Mark the troll.

…Pass me my fiddle.

#150 Smoking Man on 06.18.16 at 6:45 pm

#141 Metaxa on 06.18.16 at 5:21 pm
And I just caught this gem:
For you to write that Smoking Man inspired essay at 3 am is a tenement to my gifted writing skills.

1) Time zones, how do they work?

2) Its a testament to your gifted writing skills that you don’t seem to know or care of the difference between tenement and testament.
……..
Sucked in like a midget playing a tube…huh sarcasm mabey.

#151 Smoking Man on 06.18.16 at 6:47 pm

#140 DON on 06.18.16 at 5:19 pm
#123 conan on 06.18.16 at 12:58 pm

Re: #89 crowdedelevatorfartz on 06.18.16 at 12:49 am

Venezuela not looking good either. My guess is we end up turning Mexico into a buffer zone. Sort of what Russia wanted Ukraine to be. Anyone else noticing that the dial is being turned down on Russia?

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

I’m watching the push against both Russia and China. Why the push? I have my suspicions. Smoking Man watches this closely as well.

Smoking Man…??
….

The Wizard of earth wants Assad gone. China and Russia are the resistance.

#152 Smoking Man on 06.18.16 at 7:22 pm

This is how the UCC works

Out with Mrs Smoking man doing a walk in little Italy festavus .

She has an uncle in London. I haven’t thought or talked about him in 20 years. At around 5pm today I asked my wife. Is uncle Fred still alive. He’s got to be 100 by now.

She said he’s doing great in a nursing home.

5 minutes later she gets a text from her sister in Scotland. Sorry to say. Uncle Fred just past away.

Never bet against the Smoking Man.

#153 Nero on 06.18.16 at 7:26 pm

What’s that???
I can’t hear you…..

que fiddle track…….

#154 For those about to flop... on 06.18.16 at 7:33 pm

My wife works for the Vancouver School Board,apparently Monday night there is going to be an announcement about which schools are getting shut down.

Hope it’s none of your kids…

M41BC

#155 AfterTheHouseSold on 06.18.16 at 7:40 pm

#124 Red Deer Rob (Now in Toronto)

Thanks for the update Rob. All the best to you!

#156 Nero on 06.18.16 at 7:51 pm

#99 BillyBoob,

hahaaha…Don’t set the bar too high!
That’s a lot of editing!
Worth it tho …eh?

#157 Blacksheep on 06.18.16 at 8:56 pm

DELETED

Read this. Then go away. — Garth

#158 bdwy sktrn on 06.18.16 at 9:11 pm

Next up WULLYS Iceland decided it didn’t want to win and scored an own goal late on the share the spoils with the hungry, hungry hippos from Bdwy Sktrn’s Hungary 1-1.
————————
now you’ve got me following a sport just above golf in terms of action!

anyway, the goal was going in either way. if he missed it the hungary guy was right there to pot it. virtually no way he could do anything but get a deflection into the net. the hungarian pass was spot on.

ronaldo look out.

#159 DON on 06.18.16 at 9:20 pm

#145 conan on 06.18.16 at 5:59 pm

Re: #140 DON on 06.18.16 at 5:19 pm

NATO just got jilted by Germany and I expect the dial of aggression against Russia to be turned down soon.

The Europeans are closer to the heart of the matter when it comes to “Operation Ukraine.”

I don’t think Italy is a big fan of how Libya turned out either. Kind of sad when NATO itself becomes a victim of poorly thought out Neo Liberalism.

NATO is supposed to be Rock and Roll, not “WTF?”

http://www.reuters.com/article/us-nato-russia-germany-idUSKCN0Z40LE
*******************************

Agreed:

Germany: More politicians and businessmen speaking out for normalized relations and trade.

Italy: Wise about Libya…and they are desperate for business and Russia is a big market. Italian PM recently visited Moscow’s open house for trade and investment.

Bulgaria opting out of Black Sea NATO drills citing need four Tourism not War with Russia.

Balarus, (has a large army) – siding with Russia.

Possible Reasons: Assad, Performing well in Syria, Snowden, Crimea, China, other independent countries, Currency, Water, Gold Reserves, Commodities, loss of global influence – slower economic engine than counterparts/different stage of the cycle. Obama’s exit – sabre rattling, ignorance????

It’s getting harder to watch The Gong Show.

#160 For those about to flop... on 06.18.16 at 9:26 pm

#156 bdwy sktrn on 06.18.16 at 9:11 pm
Next up WULLYS Iceland decided it didn’t want to win and scored an own goal late on the share the spoils with the hungry, hungry hippos from Bdwy Sktrn’s Hungary 1-1.
————————
now you’ve got me following a sport just above golf in terms of action!

anyway, the goal was going in either way. if he missed it the hungary guy was right there to pot it. virtually no way he could do anything but get a deflection into the net. the hungarian pass was spot on.

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

Ha! That’s pretty good commentary from a guy that’s not interested!

When I thought up this idea I thought It could be a bit of fun for us as well as a way to get to know each other a bit better and perhaps learn more about some of the lesser lights in Europe.

I have been to around 25 countries in Europe including Hungary, which I thoroughly enjoyed.

Can you give me one cultural or financial fact about your country to keep on topic…

M41BC

#161 Doug in East York on 06.18.16 at 9:27 pm

First time poster here – Metaxa #97 pretty much puts the poster who floods this board into a box from which he will never escape. Smart comments.

Thanks for that, and thanks to those who put out the script. I now view this entire blog without seeing any drivel by those few idiots and enablers who add nothing and distract fro meaningful exchanges. Nice to see a lot less hatred directed at minorities and women as well.

Carry on, the rest of you.

I encourage everyone to use the script and eliminate the need even to see those idiot posters anymore.

#162 DON on 06.18.16 at 9:30 pm

(for last post) Forgot to mention Russia providing currency printing and support to Western Libya and other West African nations.

#163 the Jaguar on 06.18.16 at 10:05 pm

Garth:
Is it just me that thinks some blog dogs are abusing their privileges here? No doubt Garth must find it a tiresome exercise to read the posts of those who ignore the gentle reminders at the end of the site, but here is a key one:

• Respectful, wide-ranging discussion on the topic of the posting is encouraged, and will not be censored.

In short, that means: Stick to the topic or at least the topics generally covered in the intent of the blog. Look up the word brevity. This is not your private forum for a back and forth conversation about matters you might want to take off line. Some post endlessly every day. About absolutely nothing. There are also no words to describe the inappropriate comments of some ( see post #119) . In fact there are some words, but they would be inappropriate in include them here. Use your imagination.
Can we not all try to stay within the spirit and intent of this opportunity given to all of us by Garth to share insights and views about the financial markets, real estate, and investing? Where is the Aggregator? Your comments are among the most insightful and intelligent. There are some other really worthwhile commentators here, and I hope they don’t leave us because of the pontificating bores.

#164 Smoking Man on 06.18.16 at 10:23 pm

Sorry Metexa. But as a confessed serial lier. I can spot bull shit as far as the dark side of the moon

Remember that story last week that vanished. Guy caught with guns and bombs in California. Planning on shooting up LA gay pride…

It’s not in the news cycle anymore..

James Westley Howall under protection of the FBI
This patsy spilled the beans on a CIA operation he was involved with to the Santa Monica police…

And they went public…..it’s out there..wow. and holy smokes.

Do I care much. Nor really. But if you gamble in the markets you need a good tin foil hat.

You brag fest up top was good. But you’re still clueless.

#165 Smoking Man on 06.18.16 at 10:48 pm

DELETED

#166 For those about to flop... on 06.18.16 at 11:22 pm

Geez,the blog police is out in force again.

Ever heard of facts combined with humour and a bit of mischievousness.

Maybe Garth should adopt this style.

Oh , wait he already has…

#167 RocDoc on 06.18.16 at 11:49 pm

Smoking Man, don’t dump your wife. She sounds like a keeper.

Metaxa, you were rather rude to Smoking Man. I demand an apology IMMEDiATELY. Please try to be more humble. No one likes an arrogant pooh.

#168 juno on 06.18.16 at 11:50 pm

The Boomers

Freakin little piggies, I’m a boomer myself and have saved

But most hasn’t and they want the government to give them moe government assistance and pension to they can substain their way of life.

Gen X, Milleniums, Get out and stop the madness. You will soom be the majority. And if this goes through , guess who will be paying the bill in the future.

The Boomers with their houses are multi millionaires, you should not expect others to pay for your lifestyle so you can keep yours, especially when your sitting on a mountain of cash (your house). If you can’t live within your means, don’t expect others to pay for it

#169 Smoking Man on 06.18.16 at 11:53 pm

The day you seek aceptance is the day you lost big.

The day you die is shitty. The day the last person that has known you dies is even worce.

That’s day you no longer exist.

Have amazing fun till you drop is all I’m saying dogs.

Good night.

Dr Smoking Man
PhD Herdonomics

#170 mike on 06.19.16 at 12:17 am

Hi Garth.

One in a thousand chance you’ll reply this one, but i’ll still give a try. Is this a good idea to take out RRSP money to fund a RESP? The government contribution would somewhat offset some of the tax hit of the RRSP withdrawal. Am I missing something?

Not really. You can take $2,500 from an RRSP and face a withholding tax of 10% (5% in Quebec), put it in an RESP and eventually receive a CESG from the feds worth 20% of your contribution (per child). — Garth

#171 BillyBob on 06.19.16 at 12:34 am

Ahhhh.

This is awesome! The comments section is actually enjoyable again without 97% of its comments. What a great idea – I can comment without having to actually see any responses. How beautifully Canadian passive-aggressive!

For example, is flop still nursing his hurt feelings about getting called out for averaging 16 inane posts/day? Now I don’t have to know! I won’t lie, it was a bit like having a yappy little lapdog nipping at your foot. Annoying, and you’re tempted to punt it over the fence, but this is more humane.

Thanks to whomever it was who submitted the script – I’d thank you by name but you’re not on my whitelist.

#172 NEVER GIVE UP on 06.19.16 at 12:43 am

#37 Smoking Man-
Its nice to see your fragile side.
It shows you are for real.
Some of the dogs don’t like your style but I think you add 25% of the value of this blog all by yourself.
Just your imagination in the things you come up with Blow my mind!

#173 BG on 06.19.16 at 1:33 am

#39 Andrew Woburn

Yup, I have been following Ethereum too.
The attack was performed The DAO.

Basically Ethereum is the platform, The DAO is an application.
The weakness allowing the attack is in The DAO.
The platform has not been compromised.

#174 BillyBob on 06.19.16 at 6:23 am

Sweet! I see Ms. BillyBob’s home country Czech Republic pulled out a late draw against Croatia. Too bad the Croatian fans were getting feisty, even the Croatian coach was furious at them. Not that I follow football, it’s super tad boring, but have to support her country since it will probably become my adopted one once I tire of roaming the world.

Currently shopping for a nice apartment near Wenceslas Square in Prague, pricing makes an absolute mockery of those Yaletown shoeboxes people line up to buy…

#175 prairieboy43 on 06.19.16 at 6:40 am

For those about to flop… on 06.18.16 at 11:22 pm
Geez,the blog police is out in force again.

Ever heard of facts combined with humour and a bit of mischievousness.

Maybe Garth should adopt this style.

Oh , wait he already has…

***

But this is Garth’s blog. And for something to contain humour it has to actually be funny.

How did you know the Jaguar’s comments were directed at you? lol

Maybe time to dial it down a bit, you seem to have little to say about the blog’s topics and a lot of chattering to other posters about nothing.

#176 Mike in Toronto on 06.19.16 at 9:08 am

It’s funny about the greasemonkey script. Where is it?

I posted one back in February. I would love to see how far this went.

http://www.greaterfool.ca/2016/02/12/fifty-shades/#comment-432192

#177 economictsunami on 06.19.16 at 9:22 am

DR sounds as if he’s back to analysis, rather then just talking his employer’s book.

DAVID ROSENBERG: Risks are rising – The 3Ds of Debt, Deflation & Demographics as described by Richard Koo (on Japan’s experience) years ago.

” The U.S. economy has been for some time the proverbial smartest kid in summer school. The best house in a bad neighborhood.

But that story has lost some of its allure of late. The data flow has been disappointing, to wit:

1. Industrial production is down in six of the past eight months and at a 2.1% annual rate;

2. Core capital goods orders have declined in four of the past six months and at an 8.8% annualized pace over that time frame;

3. Goods-producing employment has fallen for four months in a row, by a 1.2% annual rate;

4. The softness has spilled into the consumer and services sectors, with confidence slipping in three of the past four months to the lowest level since last November; and

5. The non-manufacturing ISM index, in a five month span, has gone from 58.3 to a two-year low of 52.9 in May in a pattern that is hauntingly reminiscent of late 2000 and early 2007.

http://www.businessinsider.com/david-rosenberg-risks-are-rising-2016-6

With a divided Fed (a less bullish Bullard is having his own come to Jesus moment) their credibility is left in tatters.

Japan offers little in the way of a reliable road map, with continuous QEs and fiscal spending.

Deleveraging is seldom elegant and always disruptive.

Here in La La Land, we have yet to seriously begin.

The World Economy Looks a Bit Like It’s the 1930s

http://www.bloomberg.com/news/articles/2016-06-16/world-economy-flashes-hint-of-1937-38-redux-says-morgan-stanley

Not the same but it does rhyme…

#178 countrymusicfan on 06.19.16 at 9:23 am

Just to add my two cents worth.

I have added the script as well, and no longer have to see the boring, unoriginal and asinine comments by Freedom First, Turner Nation and Smoking Man.

What a breath of fresh air. Life is good again on this blog!

#179 Customer Complaint Department on 06.19.16 at 9:28 am

#97 Metaxa
” … a few bad apples in the barrel soon spoil the entire barrel. Multiple posts, one after the other … none of them on topic … That is called flooding and is widely considered rude in online communities.”

#159 Doug in East York
” … any drivel by those few idiots and enablers who add nothing and distract from meaningful exchanges.”

#161 the Jaguar
“Is it just me that thinks some blog dogs are abusing their privileges here?”

Take ‘For those about to flop..’ as a case in point. Despite the multiple attempts by various posters over the past few months, to ask him to curtail his posts, he continues flooding this blog.

Instead of taking their posts under consideration, he strikes back immediately with his “bitch-slapping”, banal, juvenile name calling; “pecker, pussy, cock pit, prick”, a revealing choice of words. He then ironically tells them to “lighten up”, not be so “thin-skinned”, as this is “not a serious blog”.

Flop seems unable to grasp that nuance, that it IS (or was) a serious blog, which is written in a humorous manner. Worse, he seems to think that Garth needs help by adding his own so called ‘humour’, yet provides none. When you have to tell a poster “umm that was satire” then it should be, umm, clear that you are not funny. See his post at #158 and #164.

Therein lies the problem; his outsized ego renders him clueless to his Jethro Bodine persona; an affable yet dimwitted oaf, the type that laughs heartily at his own “jokes” while others smile politely, the type who gets invited to the dinner party … once.

Customer service research discovered that only one out of every ten of dissatisfied customers registers a complaint, so for every formal complaint received, 500 will suffer in silence. Given that there have been about ten attempts over the past few months and four so far today, there is a lot of suffering going on, not the “few” that Flop claims dislike his posts.

If you are less than satisfied with the devalued quality of the blog since Flop has taken over co-hosting duties, implemented his free-for-all-weekends, Brexit/Euro updates and identity code system, it may be helpful if some of those suffering could email Garth.

#180 For those about to flop... on 06.19.16 at 9:30 am

For those about to flop… on 06.18.16 at 11:22 pm
Geez,the blog police is out in force again.

Ever heard of facts combined with humour and a bit of mischievousness.

Maybe Garth should adopt this style.

Oh , wait he already has…

***

But this is Garth’s blog. And for something to contain humour it has to actually be funny.

How did you know the Jaguar’s comments were directed at you? lol

Maybe time to dial it down a bit, you seem to have little to say about the blog’s topics and a lot of chattering to other posters about nothing.

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

Hey PB,you asked the question how did I know that the Jaguar was talking about me?

Umm, because he listed my number 119 post and we had a run in the other week.

The reason I did the 119 post was because I don’t believe that poster has switched of every commentator bar three.

Everyone has there own opinion on what should be posted.

There are Licorice Allsorts on here just as in life.

If I have an original thought and I think I can help someone or entertain them then I will post it.

I NEVER WRITE THE SAME THING TWICE.

There are people on here with agendas to push and if you get in their way they will mow you down.

My agenda is to learn and laugh at the same time , it has to be finance with finesse or else it becomes boring.

Like I said to Ronaldo the other day, we are a family here and families don’t always get on.

To all the fathers on the blog….Happy Fathers Day…

M41BC

#181 WalMark of Sadkatoon on 06.19.16 at 9:55 am

Smokie is psychic

psychic alien of deth

#182 WalMark of Sadkatoon on 06.19.16 at 9:56 am

bunch of u posters are high school girls

#183 Mike in Toronto on 06.19.16 at 10:00 am

Found the script. Google brings it up fine.

A much better script… thanks :-)

My wishlist is to add a block on all posts who’s first line contains their names (or variants, smokie, smoky, etc). Replies to their posts are just as worthless.

#184 The American on 06.19.16 at 10:04 am

Tony, I hope your intelligence level is not indicative of the Canadian education system. I’m really hoping your anti-American ignorance and stupidity are nothing more than the fact you had your dumb ass beaten by an American (both economically and physically), or maybe you have just a touch of the Downes. Either way, I would hold you accountable for your perpetually inaccurate predictions if it weren’t for the anonymity of the Internet and a screen protecting you. You should be thanking the universe that Americans brought you the Internet, to the concept of blogging, to the software running your computer/smart device, to the manufacturer of the hardware you’re using to be such an ignorant coward. Jealous much? It’s pretty evident.

#185 Penny Henny on 06.19.16 at 10:10 am

I don’t trust any Chinese restaurant that has the word “Meow” in it’s name.

#186 crowdedelevatorfartz on 06.19.16 at 10:12 am

@#161 The Jaguar ( cool name by the way. Kinda like “Mr Black” in Reservoir Dogs….Im “Mr Brown”)

Anywho.
Waddya wanna discuss?
Macroeconomics? Brexits ramifications?
Britain leaves the EU causing the eventual Scottish seperation referendum …and whats good for the dour scots is good for the Welsh…..Then every county, state, province and city with a Union Jack flapping over its head will have to go through the ridiculous “New Zealand” like dog and Pony show of getting a new politically correct flag. I nominate a photo of a politician spraying gold coins from their butt for the new Vancouver city rag….er flag
Back to Brexit.
Populist nationalism meets reality. If Britian leaves then France ( where the EU membership is even MORE unpopular will be next. And If France goes…..dominos. One after the other …all to Russia’s, China’s (and lets face it, Americas) glee.
What happens to the Euro? In the tank as investors flee to the US buck. Canada’s dollar will get slammed. ‘Fiddycents” anyone?
A successful “remain” vote will also have a negative impact.
Why should all the other countries in the EU (not to mention the thousands of companies that have made contractually obligated deals in Euros for billions) be held ransom by “exit” vote after exit vote by the whims of French, Italian, German, Spanish citizens who are really voting against refugees landing on their shores and unaccountable EU politician and beurocrats.
Unfortunately.
The refugees will still keep coming. The southern nations will still be overwhelmed financially, politically and socially and eventually Europe will look like Africa today.
Millions of refugees from failed nation states swarming over borders to cause other nations to fail.
A very big mess……

@#123 Don. re Venezuela

Socialisms “Utopia” meets fiscal reality.
20 million starving people cant be held back by tear gas and rubber bullets forever. Hundreds of protesters will be shot dead before international outrage will force the bumbling idiot running the country to flee. I expect the leader to eventually run to another country that will except him. Probably Cuba.

@#113 Brazil ExPat

Its a REAL disappointment when your reBUTTals are deleted.
An attempt to avoid the more, shall we say, gynecologically explicit decriptions of me, may be your downfall…….
I enjoy our repartee. Kind of like a matador waving a red flag to a bull. :)

#187 Prairieboy43 on 06.19.16 at 10:17 am

Looks like imposter #173. There is only #1 Prairieboy43. I do not write that eloquent. Do you want my Itrade account also? I hate the internet.
PB43

#188 For those about to flop... on 06.19.16 at 10:45 am

184 Prairieboy43 on 06.19.16 at 10:17 am
Looks like imposter #173. There is only #1 Prairieboy43. I do not write that eloquent. Do you want my Itrade account also? I hate the internet.
PB43

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

Hey the real P.B , i thought something was off as you always finish with PB43 but as I said in my response to the fake and serves as a timely reminder…

THERE ARE PEOPLE ON HERE WITH AGENDAS AND OF YOU GET IN THEIR WAY THEY WILL MOW YOU DOWN.

As soon as you recognize that everything changes.

I arrived in Canada in 2002, thanks to this blog I have learnt more about my adopted country and the psyche of its people in the last year and a half than all the previous years.

Like most things in life you get out of it what you put into it.Some people on here just moan and complain and when someone says “maybe you should check this out” and tries to help they refuse and wallow in self pity.

I have people that help me out on this blog with explanations and advice and the reason I will keep coming back is the variety of the posters.

I will be blocking no one ,occasionally scrolling and trying to understand everyone’s point of view…

M41BC

#189 Steerage Bilge on 06.19.16 at 10:49 am

The delusion alien SM slayed by entrepreneurial code-smiths. Hilarious.

#190 For those about to flop... on 06.19.16 at 11:18 am

Someone picked up a “bargain”…

M41BC

http://www.msn.com/en-us/money/realestate/he-built-a-dollar24-million-mansion-along-the-potomac-then-he-lost-it-to-foreclosure/ar-AAhgpwM?li=BBnb7Kz&ocid=mailsignout

#191 Fortune Faded on 06.19.16 at 11:34 am

Found the script. Google brings it up fine.

A much better script… thanks :-)

My wishlist is to add a block on all posts who’s first line contains their names (or variants, smokie, smoky, etc). Replies to their posts are just as worthless

——————————————————
You’re welcome. For that request you’d have to rely on the poster using anyone of the name variants, which would be easy to bypass e.g. smo kee. Plus it would likely slow down the page load. Maybe keeping track of the black list members comment #’s and then checking the comment # the poster is replying too would work, provided of course the number is included in the post.

#192 Felix on 06.19.16 at 12:08 pm

Interesting. This blog purges itself of putrid canine pics for day, and quality goes up by 100%

Something to do with “Meow Mein’s” clever picture I think – exactly what you can expect from super-intelligent cats.

Dogs – you can resume eating each others’ feces.

#193 LL on 06.19.16 at 12:33 pm

ooopsss…my previous post has been sent to the wrong article. Forget it..