Trumped

SUCKS SIGN modified

Financial markets want Hillary. There’s no disguising that. Investors would rather have Democrats (or Liberals) in power than Republicans (or Conservatives) – because left-leaning governments spend more money and love deficit financing. Leftists solve problems by feeding them. Rightists deal with trouble by starving it. Stimulus on the left, austerity on the right.

Trump scares The Street, and the Cleveland convention ain’t helping much. The coming campaign will be mega-nasty, pitting an emotional, visceral middle-class movement against a broad coalition, with a populist fighting the establishment. The social fallout could be significant, whatever the outcome, since the next president will likely take office on Electoral College ballots, rather than the popular vote. Quel mess.

At this point, that means a Clinton win. Markets assume it. But they also were 100% convinced UK voters would never opt for Brexit – so stock markets got pummeled for a 5%, two-day race-to-the-exits when that news came in. A Trump win would have the same outcome, unless it’s clearly telegraphed well in advance. But that won’t happen. If the dude wins, it’ll be akin to discovering life on Venus. Or at least in Buffalo.

Now, here’s some good news for the Clintonites. It’s called the Misery Index.

This is an informal economic indicator which melds the rolling unemployment rate with the cost of living. The assumption is that a high jobless rate or rampant inflation will make households grumpier, more miserable and highly motivated to throwing the bums out. When the index climbs as an election approaches, it’s bad news for the incumbent and great news for the challenger. Going all the way back to 1964, it’s predicted the new president with an 85% accuracy (11 of 13 presidential races).

It all comes down to perceptions. If a majority of people perceive their economic lot in life is getting worse, they vote for change. If things are okay and improving, they don’t take that risk.

Where are we now?

Well, the US unemployment rate is sub-5%, and close to the best level it’s seen since the 2008-9 credit crisis. The 287,000 new hires in June served to remind voters just how many jobs have been turned out over the past eight years, and that the recovery – albeit tepid and faltering – continues. At the same time, inflation is nowhere, mostly because rates have stayed low, wage gains have been muted (keeping prices in check) and a collapse in the price of oil has saved a hunk of disposable income on household energy. So sluggish growth means a low cost of living (2.3% inflation), at the same time as job growth continues and unemployment (4.9%) is a non-event.

The forecast is for the jobless rate to fall by election day in November, so if the Fed holds off on its interest rate hike until after the vote, the Misery Index should continue to dial back – although it looks close to bottoming out.

The latest odds: Clinton 2/5, Trump 9/4.

$   $   $

What happens when a Canadian housing market starts to fall apart? As this pathetic blog has been telling you for a dog’s age, don’t expect a US-style crash, complete with mattresses hauled onto front lawns by bailiffs  in headbands while kiddies sob on the curb. Instead, we get a slow melt, with pain on the installment plan.

Need an example? Calgary. There’s a slow-mo classic Canadian bust going down. Everyone living in places they think “are different” should pay attention. It used to be different in Cowtown, too.

In the real estate market listings continue to mount – now topping 6,000, up a fat 16.8% from this time last year. Sales are down 10%, and detached house prices have started their descent – off about 4%. It’s the tip of an iceberg. You can discern that by looking at the rental market, where prices are less sticky and landlords are freaking.

About 21,000 units are currently sitting empty, a 70% increase over year-ago levels, more than at any time in the past 16 years. Counted among those are 9,000 empty apartments, for a vacancy rate of 8% – stunning. So prices are careening lower. Owners of higher-end units (above $2,000) have been trimming rents by up to a third. More to come. Pity the poor amateur landlord-specuvestors now being hollowed out. They learned that equity rises and falls, but debt never fades.

It’s taken two years for this disaster to unfold. It’ll take many more to recover. And we’re not at the bottom yet. Those who expected Calgary prices to drop by 40% in the months after oil prices plopped were as misguided as the realtors who argued a major city like Calgary (with the hottest housing market in the country three years ago) was safe.

No city is immune. And nobody ever believes it.

177 comments ↓

#1 Mark on 07.21.16 at 6:09 pm

Does anyone actually believe ‘unemployment’ is low in the US? College grads haven’t been able to find decent jobs in years. The economy never really did recover from the Sept 11 era, described then as a ‘jobless recovery’, but after the fact, not really a ‘recovery’ at all. The Obama years have been a disaster. Nearly all of the “employment” created in the post-2000 era went to newcomers to the United States, while US citizens were walked off their jobs in droves. The trade and budget deficits are unmitigated disasters. And now there is the spectre of rising racial tension and violence associated with such.

The American people are angry and rightly so. That’s why what ordinarily would be a freakshow in Donald Trump has gained a lot of traction. His impact on the financial markets is hard to predict (a pro-growth agenda definitely would be good for the stock market, but probably at the expense of the bond market). But he does enjoy far greater levels of public confidence for his economic policies than does Hillary.

As for interest rate hikes, I stand by my prediction, given early this year or late last year, that the Fed will be forced into cuts sooner or later. The bond market is screaming “cut”. The state of the economy is screaming “cut”. Job postings in high value occupations are disappearing at a rapid rate. The Obama “recovery” is just an allusion/delusion.

#2 bdwy sktrn on 07.21.16 at 6:11 pm

van is immune. we may get flooded w trumpugees soon.

#3 powder_hound86 on 07.21.16 at 6:19 pm

2 years for a 4% decline. Once the decline really sets in it will pick up some momentum though.. EI is running out, cash savings running out, other industries feeling the squeeze. Panic selling will start to become a thing.

#4 Gen X Confessions on 07.21.16 at 6:20 pm

With the new Child Benefit rolling out this month, I’m wondering if it now makes sense for some families to maximize their RRSP now rather than the TFSA in order to lower their income and maximize benefits (CCB and RESP). It is often talked about here how the OAS is means tested, but there are also means-tested benefits for younger families too.

#5 odious herodias on 07.21.16 at 6:32 pm

Love your writing Garth, but why you do you continue to trumpet the US unemployment rate? Fine it’s 5%, but that’s because many have given up looking for work and are no longer counted as unemployed. Why don’t you quote the much more meaningful labour participation rate which close to 40 year lows. That’s the REAL number, not the bogus unemployment pct. Unemployment stats are for politicians – why would people serious about understanding the economy / investment climate ever use a stat that obfuscates the truth?

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

#6 Great Advice on 07.21.16 at 6:32 pm

Don’t buy a house, and don’t expect a meaningful drop. After all this waiting. What excellent advice you’ve given these people. Since you’ve started some neighborhoods in Toronto have literally tripled (Markham). And now you’re saying we shouldn’t expect a meaning drop. Excellent.

#7 MSM-Free Zone on 07.21.16 at 6:33 pm

“….But that won’t happen. If the dude wins, it’ll be akin to discovering life on Venus…..”
_________________________

More akin to discovering a new virus.

You would think Americans might have learned something after eight years of Dubya. They sure like their sociopaths.

If this divisive, narcissitic nutbar ever gets the keys to the Oval Office I’m sure we’ll be witnessing street riots that make the Watts and Rodney King times look like graduation picnics.

#8 Randy on 07.21.16 at 6:34 pm

I admit that I’ve been wrong all along. I should have been anti-austerity so that I can get the maximum amount of free stuff before I die and you kids and grandkids can pick up the costs. Go Hillary, Go Justin, Go Wynne.

#9 Bill Gable on 07.21.16 at 6:36 pm

Trumpegees?

My American friends are all confused and angry. I think Mr. Turner has done a masterful job of explaining various scenarios. Thank you,Garth.

This line was yet another Turnerite gem. :-)

Re: Trump.

If the dude wins, it’ll be akin to discovering life on Venus. Or at least in Buffalo.

#10 Nick Tamer on 07.21.16 at 6:37 pm

Trump will win and you will be wrong again

#11 MSM-Free Zone on 07.21.16 at 6:37 pm

#1 Mark on 07.21.16 at 6:09 pm
“…..But he does enjoy far greater levels of public confidence for his economic policies…..”
________________________

Never realized blowing Smirnoff out my nose could hurt so much…

#12 dosouth on 07.21.16 at 6:38 pm

I don’t think odds work this time around. Depending on who can either get the voters out or fear monger their way into this next presidency, viceral doesn’t begin to explain the current GOP convention. Every speech has the word fear or terrorist or enemy in it .

Historically the two most disliked candidates that ever ran for the American pressidency. Nothing uplifting about this group and we will be holidaying elsewhere this fall..for safety sake. Stay safe all our American friends….

#13 james on 07.21.16 at 6:39 pm

“Leftists solve problems by feeding them. Rightists deal with trouble by starving it.”

No offense, but that is nonsense.

Ronald Reagan’s administration, for instance, expanded the civil service massively and tripled the national debt through massive spending.

Here’s ultra left wing Mother Jones magazine on that point:

http://www.motherjones.com/mojo/2014/12/ronald-reagan-big-government-legacy

Here’s the Mises Institute (libertarian) on the same point:

https://mises.org/library/sad-legacy-ronald-reagan-0

That characterization shows a complete lack of understanding of US politics. One of the reasons behind the formation of the Tea Party was dissatisfaction with RINOS (republicans in name only) who betray their constituents by talking about limited government during election time, then supporting big government when in office. Newt Gingrich and Paul Ryan being key examples.

#14 TheUnhealthy on 07.21.16 at 6:40 pm

Calgary commercial is doing even worse. 22% vacancy rate and it’s only going to get worse. My guess is 2-3 years before bottom. Anyone else care to take a stab, time-wise?

http://business.financialpost.com/news/property-post/landlords-scramble-to-fill-near-empty-skyscrapers-dotting-calgary-skyline-were-not-overbuilt-were-under-demolished?__lsa=ec65-2613

#15 nonplused on 07.21.16 at 6:43 pm

I am still bewildered that out of 300 million people the Donald and Hitlery are the only 2 people they could come up with. The again we managed to elect a second Turdeau. You think we’d have learned from the first one.

It makes me think the whole democratic process is somehow just a big show.

#16 Smartalox on 07.21.16 at 6:44 pm

Interesting observations about the ‘misery index’; the unemployment rate may be as low as it’s been since the great recession in 2008 – 2009, but you’ll recall that people voted for ‘Hope’ and ‘Change’ back then, too.

And then there’s this:
It all comes down to perceptions. If a majority of people perceive their economic lot in life is getting worse, they vote for change. If things are okay and improving, they don’t take that risk.

I have a feeling that this statement helps to explain the mainstream’s disbelief with the rise of Trump and the Trumpists: these people perceive that their lot in life is getting worse, and they don’t see things improving. If this view were shared by the mainstream, Trump would win in a landslide, like Reagan did in 1980.

But it’s not; these perceptions are only common to a small, vocal, angry minority, who care less about voting FOR something, than they do about voting to take things AWAY from those whom they feel have more than they do.

Theirs is not a desire for a reasonable and cohesive platform. They just don’t care about it, or anything else. All they care about is making someone else feel their pain, which is why the mainstream find them (and Trump) repellant.

#17 Brian on 07.21.16 at 6:45 pm

Good Point #4 Gen X, I have 2 under 6 y/o, had been dedicated to maxing tfsa but will have to crunch #s to give consideration to rrsp and maximize the Child Benefit. Thanks for planting the seed.

#18 Mr. Frugal on 07.21.16 at 6:46 pm

Wrong on Brexit and wrong on Trump. Reagan started a great bull market. Trump will do the same.

#19 Dook on 07.21.16 at 6:51 pm

So when do you predict is safe to buy in the GTA??
Assuming one would put 20-30% down?

Are you weakening your stance on the GTA bubble ?

#6 (Great advice) makes a good point… I’m eager to hear your response

#20 Nelley on 07.21.16 at 6:52 pm

The rudest, most egotistical candidate ever versus the most corrupt, treasonous and criminal candidate ever-it is like a 1980s WWF battle of the titans.

#21 ROCK BEATS PAPER on 07.21.16 at 6:54 pm

Participation rate collapsed under Obama taking the US back to the 70’s! Just a few more million dropping out of the labour force should bring the unemployment rate right down to 0, then we can talk Negative Rates!!

There are 151M employed persons in the US, a 5M increase under Obama. The population surged 16M during that period.

http://www.tradingeconomics.com/united-states/employed-persons

#22 Suede on 07.21.16 at 7:09 pm

On a scouting mission in onterrible…

Vaughan is bumping. Bradford is bumping. Milton is bumping.

Everyone wants to flip houses and change careers to be a RE agent.

Next up, a report from etobicoke and long branch.

I’ll bring some JD and hopefully get out the nectonites

#23 Freedom First on 07.21.16 at 7:12 pm

It all comes down to perceptions-Garth.
…………………………………………………

Yes. Perceptions are so important I could not possibly overstate their values. Thank God I’m me.

#24 The Real Deal on 07.21.16 at 7:15 pm

@ TheUnhealthy

How about never.

Oil is $45 on the back of the largest gasoline/distillate build in modern history. Now there are gluts everywhere. 2-3 years to work through this puts us further into a technological shift that allows industrial society to drive and drill more efficiently. Further to the demand side, and lack there of, demographic collapse is here. Negative yields are a clear indication of this, we are going Japan and no amount of QE, or banker sleight of hand will stop the mathematically undeniable. Demographics rule.

The build out in commercial/office space in downtown Calgary is an epic display in misallocation of capital. Text book.

#25 Smartalox on 07.21.16 at 7:27 pm

BC government announces largest-ever budget surplus, due in no small part to over-inflated real estate. At least they’re going to use the windfall to pay down debt – it’ll serve the Province well when property values fall.

Of course, if history is any guide, the government will get ‘addicted’ to the revenue, and likely raise tax rates to compensate (themselves) for lost revenue.

#26 Terry. on 07.21.16 at 7:30 pm

“since the next president will likely take office on Electoral College ballots, rather than the popular vote.”

This is true Garth but it’s the voting public who decide when they vote who they want their Electoral College Delegate’s to vote for President. And 27 States have now passed laws that dictate that if the voting public votes for their State Delegates to vote for Trump then that’s who they have to vote for. The remaining States Delegate members can vote for whomever they want.

#27 99 problems on 07.21.16 at 7:35 pm

Trump all the way. There is no way the people will turn down this opportunity.

#28 Andrew Woburn on 07.21.16 at 7:36 pm

House hornies ignoring building inspections and due diligence could wind up here.

“Mission couple struggling to sell suspected grow-op house – British Columbia – CBC News”

http://www.cbc.ca/news/canada/british-columbia/mission-marijuana-grow-op-house-1.3686527

#29 Power of Prediction on 07.21.16 at 7:41 pm

” A Trump win would have the same outcome, unless it’s clearly telegraphed well in advance. But that won’t happen. If the dude wins, it’ll be akin to discovering life on Venus. Or at least in Buffalo.”

——————————–

Alright, I am now putting my betting money behind a Trump win based the consistently inaccurate predictions on this blog. Shall we review:

Brexit is a blip and will not happen – it happened

There will be no ‘one and done’ rate increase as the US will raise rates with 4 alone in 2016 – nope, 2016 increases are off the books and 2017 seems like a fantasy

There is no foreign capital impacting YVR and GTA markets, softened to less than 5% of an impact – now the stats are coming out from the provincial government that foreign capital purchases in YVR are almost the equivalent of purchasing all new construction

The BOC will not cut rates – well, they did twice in 2015 and it looks like another this fall

Betting against those definitive predictions would have put you in good stead. I am betting on Trump now given the recent track record.

#30 VanG on 07.21.16 at 7:42 pm

http://www.langleytimes.com/news/371702011.html

Langley City has more thrift stores per capita (1/1800 residents). The new growth industry in the Fraser Valley.

#31 MF on 07.21.16 at 7:50 pm

Lol “the markets” are heavily manipulated and don’t represent any sort of reality. Brexit was a done deal too and look how wrong it was.

Maybe if hillary wins we can get trillions more of “stimulus” to add to the already owed trillions”.

And Lol @ the unemployment rate. So we have so many millions of people working yet no inflation? negative rates? And almost no growth to show for it? Something doesn’t add up. Clearly.

MF

#32 VanMom on 07.21.16 at 7:50 pm

Garth you should seriously consider a ” like” button for your posts cuz I’m liking them a lot :) keep up the great posts

#33 Pete on 07.21.16 at 7:53 pm

Trump will win (he has too much support for the election to be rigged against him successfully). The UNITED STATES will surge ahead for 8 years reaching dizzying heights in finance and technology. Then WW3, which it will lose. Mark my words, that is the way it will unfold.

#34 Aggregator on 07.21.16 at 7:53 pm

BMO taps new source of funds with securitized real estate lines of credit

Fortified Trust is a special purpose entity set up earlier this year. It was formed to offer investors an interest in the receivables generated by a pool of BMO’s secured real estate lines of credit.

This week, in its initial foray to the market, Fortified placed $750 million of Class A notes. The AAA-rated notes came with a five-year term and a coupon of 1.67 per cent. At $750 million, the issue – and the underlying secured lines of credit are uninsured — ended up being 50 per cent larger than originally anticipated.

This is all part of the big banks' balance sheet cycle. Once they offload by insuring and/or securitizing on-balance sheet RE assets to international investors over the next few months they'll have more capacity to lend later in the year. This process always happens just as national home prices start falling — then boom — out of nowhere prices shoot up as they reflate their balance sheet with new HELOCs and mortgages. (Chart)

The big banks are Canada's #2 real estate market makers. When I see people arguing foreigners are buying tens of millions here and there — this is peanuts compared to the big banks' operations who move that amount of mortgages in a few hours time.

Who's the #1 RE market maker you ask? The Government of Canada.

#35 Vancouver Troy on 07.21.16 at 7:54 pm

How come you never mention the U.S. debt?

Obama has created jobs but ran up an unpayible $20 trillion dollar to do so.

The U.S can’t afford a Clinton win.

#36 Metaxa on 07.21.16 at 8:01 pm

@ #6 Great Advice:
Don’t buy a house,…

Garth has never said don’t buy a house. He has repeatedly stated to not buy a house at the expense of collapsing the entirety of your other savings, becoming a single asset holder.

Big difference.

I know words are hard for some of us but you can’t slag a guy for something never written.

It is other posters who have morphed that perfectly cromulent advice into the simplistic “do not buy a house”
…and now you…

#37 earthboundmisfit on 07.21.16 at 8:09 pm

Strange, the number of people who continue to think that the burnt-orange toad has the slightest chance of being elected POTUS. Please educate yourself about something called the Electoral College.

#38 Heisenberg on 07.21.16 at 8:10 pm

#20 Nelley on 07.21.16 at 6:52 pm
“The rudest, most egotistical candidate ever versus the most corrupt, treasonous and criminal candidate ever-it is like a 1980s WWF battle of the titans.”
———–

Bang on. Clinton has the personality of a coffee grinder. The poor can’t relate to her.

…and there’s way more poor/uneducated folks in the US than rich/educated. If they can find their way to the voting stations and have someone read them the instructions on how to vote, they’ll vote Trump into the presidency.

The powers that be will try to prevent that from happening at all costs.

Look for some staged domestic terrorist “event” to happen a couple of weeks (mid to late October) before voting starts. Something that will try to guilt the redneck gun-toting crowd into changing their vote and going for Clinton instead.

#39 For those about to flop... on 07.21.16 at 8:10 pm

Whew! Im tired.Just finished a round of golf.
The foursome included myself, Ross Kay ,Mark and “Khalid”.

I was impressed that “Khalid took time off from selling his 15/20 properties between his friends,just to drive up the prices since real estate topped out in 2013 in Vancouver.

After a couple of holes Ross Kay said to me ” Maybe you should take a lesson or two to straighten out that hook off the tee.”

I replied” Ross, I am deliberately hitting my ball on the opposite side of the fairway to Mark so I don’t have to listen to Mark babble on about the sales mix all day.”

“Khalid” was a bit of a rascal ,I could tell he was deliberately missing easy putts just so he could drive up the score .He was shocked when I told him on the 18th green that in golf ,less is best.

Mark got stuck in the bunker, he was trying to hit out of it with his putter,Ross “Khalid” and I all suggested he use a Sand Iron but he wouldn’t listen and kept digging himself a bigger hole.

Unsurprisingly ,he also blamed the sand mix.

* This is pure satire and never actually happened…..do you really think I would spend 5 hours with Mark Farquar.

**No Ross Kay’s were hurt during the writing of this post…

M42BC

#40 Entrepreneur on 07.21.16 at 8:12 pm

People want change. Hillary is the same old and Trump is different from the system. The Wall Street protest was a wake up call for politicians to pay attention to the 99% of the people.

Trump favours the Enbridge pipeline coming from Canada? I am sure I heard right, and if so, T2 would wants that too (on a talk show when Harper was in). That pipeline will be pumping oil from the ground in an continuous non-stop flow causing a shift, a void underneath. We must be careful of the amounts.

#41 Brazil ex-pat on 07.21.16 at 8:14 pm

How do you know we have reached Peak Government…….

The BC Govt blew its brains out today telling everyone “Look at the 600 million dollar surplus we have !! – Aren’t we awesome !!”

All at the expense of 3 million dollar tear downs and people sleeping in tents with children because they cannot find anywhere affordable to live.

Canada is doooooooomed.

#42 Ed on 07.21.16 at 8:15 pm

Hmmm, I see a buying opportunity when the US heads to the polls.

#43 not 1st on 07.21.16 at 8:17 pm

…. don’t expect a US-style crash

———

You sure about that Garth. Banks doubling down.

http://business.financialpost.com/news/fp-street/bmo-taps-new-source-of-funds-with-securitized-real-estate-lines-of-credit

#44 F.dover on 07.21.16 at 8:24 pm

Liberals and democrats spend more money.

Spun Spun Spun

#45 Bottoms_Up on 07.21.16 at 8:25 pm

#4 Gen X Confessions on 07.21.16 at 6:20 pm
———————————
The child benefit is means tested on gross income, so RRSPs cannot be used to get an increase.

#46 The Spectre on 07.21.16 at 8:34 pm

There’s so much wrong with the 1st part of today’s post that I don’t even know where to start.

Garth, have you been watching CBC or BNN?

#47 Mark M. on 07.21.16 at 8:39 pm

“…so if the Fed holds off on its interest rate hike until after the vote…” – Garth

But Garth, how are they going to get the four hikes in this year after the election in November? Will they go with four 25 basis point hikes in December, or just move up a full 1% on December 14th?

Maybe WalMark or The American can tell me?

#48 Long Branch Apprentice on 07.21.16 at 8:45 pm

#22 Suede

When you say bumping, do you mean residential? I’ve seen an awful lot of commercial For Lease signs out all over the GTA, and that doesn’t seem like a good sign.

I’ve heard first hand accounts of recent bidding wars in both Waterloo and Walkerton now, it’s just insane.

Then again we are dealing with the herd here, if it wasn’t Real Estate it’d be Beanie Babies or some other damn thing.

Hopefully Johnson can get the %15 polling numbers needed to attend the Presidential Debates.

Hillary has had a concussion before which puts her at significant risk of a stroke while in office. She’s 68 so the Dems better have someone good lined up for VP.

I was sad when I watched House of Cards Season 4 in 2 days, and then had nothing like that to watch, but real life is much better.

Should be an interesting fall, if the Jays continue to outscore as much as they are, the elections ramping up and possible cut from BoC coming.

WHAT A TIME TO BE ALIVE PEOPLE!

#49 acdel on 07.21.16 at 8:50 pm

U.S. numbers, lol, as Mark mentioned who actually believes such rubbish; the truth will come out after the election.

Meanwhile in Calgary; prices are not dropping as expected, yes, vacancies are higher but the true effect will not be felt until next year unless there is some sort of rebound in the oil patch.

Although people are leaving, Calgary’s population is still increasing.

http://www.cbc.ca/news/canada/calgary/calgary-civic-census-results-2016-1.3687258

#50 MSM-Free Zone on 07.21.16 at 8:51 pm

Looks like Russia has finally been able to perfect an orbiting satellite capable of blanketing the entire US with a Stupid Beam.

How else can you explain how an entire population can be brainwashed into choosing between which of two STD’s is right for them?

#51 Damifino on 07.21.16 at 8:55 pm

#29 Vancouver Troy

“The U.S can’t afford a Clinton win.”
————————-

Nor could Canada afford a Trudeau win. And yet…

#52 Smoking Man on 07.21.16 at 8:58 pm

When Trump came out with “We need a Temporary ban on Muslims till we figure out what’s going on.” The MSM turned him into a racist omitting the words temporary and what’s going on.

That’s the day I called his win right on here. I called the Brexit too.

Trump is not a racist, he’s a tactician that used the MSM to give him free advertising, outlandish statements one after another. Brilliant. That’s right out of my play book.

Even the people that hate him know he’s not a racist, but they are trying to build consensuses with other like minded morons looking for Liberal handouts.

There is a New World Order that wants to give the peoples of all the world a fair shake. But it comes with a cost, western standard of living.

All this:

Man vs Woman
Black vs White
Nictonites vs Tall Whites.
Climate Change
Pipelines vs No Pipelines
Mass Immigration of dubious characters, and good families divides.

Everything happening culturally today is designed to break down the family unit, weaken our society so a few bleeding heart billionaires can feel good about themselves. Helping therd world dictators and themselves to more of your money.

Do you think anyone in China or Mexico gives a rats ass about climate change. NOT A CHANCE! and they all know it’s bull shit.

But the mind fkd, programmed, schooled here think it’s real. And young people being what they are today, so terrified of being excluded or shunned from the pack will never say boo even if they really dig into it and see the fraud that it really is.

This young generation, the newly schooled is completely disarmed and vulnerable, I see them all buying condos.

Trump is waking a lot of them up in the USA

Go Trump, Go America, Just watch his speech tonight. It will all make sense.

Oh and to that ass wipe in Caledon who’s flying the Canadian flag upside down because of our inaction on climate change.

I laughed so hard listening to this loon of loons rant on the radio I nearly crashed my truck.

Would have been funny, a Climate Loon takes out Smokey.

#53 Jimmy on 07.21.16 at 9:00 pm

FIRST Lady fantasies:

Melania
or
Huma

Hmm…

#54 BOOM! on 07.21.16 at 9:00 pm

Boy, all the elements of a great fiction writer in tonight’s first comment. Mark better check your underwear’s backside, I think your brain is leaking….

Let’s do a bit of fact checking. First, Obama inherited a disaster. Tax cuts up the wazoo, deficits ballooned, economy went into the shitter from Dubya’s obvious delusions & neglect. Obama only had a cooperative house the first 2 years, after that the house went republican. The Republicans tried their best to derail pro-growth legislation, largely successful. He was largely stymied.

I believe Trump has a chance for the top job, at least that will do 2 things:
1. Ensure no further ‘recovery’, continued low interest rates, with equities to match.
2. Further polarize this country.

Those two issues are not as present with Hillary, though she too, could screw things up.

Second, I see more jobs unfilled in our local paper than lines for unemployment, or welfare help. NO Mark, these are not ‘McJobs’ but a family supporting wage & benefit package.
As always, there is a small number who basically refuse to work, and those who have enough and just say “screw it, I’m done.”

I haven’t seen things this good for awhile – a DAM far cry from 2008-2009. Everybody I know is doing quite nicely.

Don’t how things are in your hood, I don’t live there.

M64WI

#55 Dispatches from Under the Bridge on 07.21.16 at 9:07 pm

I don’t think Trump was even serious until he got the secret service detail. Then it was big motorcades, lots of flashing lights, closed intersections that they just race right through and all of those people surrounding him. Now he felt like he was being treated as if he were as important as he always thought he was. His popularity is further proof that most people are to stupid to be allowed to vote.

Trump masterfully manipulated the media into covering him practically nonstop at the expense of other candidates who actually had serious things to say, even though many of them are almost as scary as Trump. At least the others wouldn’t be as likely to use the office to avenge all of the imaginary wrongs that have been done to him.

He is currently whining that Cruz, the only other candidate as scary as Trump, won’t honour the pledge that Trump himself long ago said he wouldn’t honour because he wasn’t being treated fairly. If he actually gets elected some shadowy American government agency with a three letter designation may have to take some kind of action against him for the good of the country and the world before he thinks he has been treated unfairly by some other world leader and does something really stupid.

There is a good chance dimwitted, deceitful, thin skinned, paranoid Donald J. Trump has some kind of mental illness. He is definitely a self aggrandizing, lying narcissist that has no position on anything other than everyone else should think he’s great and tell him so at every chance.

God help everyone on the planet if that idiot actually gets elected.

When you look at the choices we have to pick from for our supposed leaders in all the democratic countries they are pretty sad of late. Maybe it says something about how sad our society has gotten.

I think I’ll go over to that website where I can apply to be a senator now.

#56 common sense on 07.21.16 at 9:08 pm

Ok Garth. I’ll bite on the sideways Buffalo comment as I live 3 minutes from there and work there as well.

World class architecture, great food, free parking, easy access to the water, moderate traffic, inexpensive booze to bring back, free parking.

Toronto has the size but little charm.

Buffalo has given me everything without asking for anything…

Come check us out!

#57 Shawn on 07.21.16 at 9:16 pm

False Logic on Unemployment Rate

#21 ROCK BEATS PAPER on 07.21.16 at 6:54 pm said:

Participation rate collapsed under Obama taking the US back to the 70’s! Just a few more million dropping out of the labour force should bring the unemployment rate right down to 0, then we can talk Negative Rates!!

******************************************
Participation rate of adults over 16 in the labour force has declined? You’d “almost” think there were more retired people these days due to demographics.

You’d “almost” think that young people stay in school longer these days rather than entering the labour force.

You’d “almost” think that society must be richer if fewer people even bother to look for work.

People dropping out of the labour force will not necessarily change the unemployment rate unless all of those who drop out are currently in the labour force but unemployed.

The fact is that only about 5% of people who want a job badly enough to actually look for one are without a job. Down from about 10% when Obama took office.

The definition of how the unemployment rate is calculated has not changed, has it?

#58 The Wet Coast on 07.21.16 at 9:27 pm

Exactly how many bubbles slowly fizzle. Just say’in…

#59 Tso on 07.21.16 at 9:28 pm

Gundlach said Trumpo will win. The polls are wrong. Kinda difficult to believe… But he manages 100 billion and they dont save money on research. How is it possible out of 400,000,000 these two to be the choice…

#60 Nelley on 07.21.16 at 9:29 pm

#56-Most adults in 130 years living with their parents-sounds like your “rich” society-must be all lotto winners.

#61 White Crock BC on 07.21.16 at 9:31 pm

common sense on 07.21.16 at 9:08 pm

Ok Garth. I’ll bite on the sideways Buffalo comment as I live 3 minutes from there and work there as well.

World class architecture, great food, free parking, easy access to the water, moderate traffic, inexpensive booze to bring back, free parking.

Toronto has the size but little charm.

Buffalo has given me everything without asking for anything…

Come check us out!
———————————-

For God’s sake, Buffalo doesn’t even have a Costco!!

#62 Let's Get House Horny on 07.21.16 at 9:36 pm

So Goldilocks is alive and well Garth ?

I thought you are getting a bit long in the tooth there to be believing in fairytales….

The whole world is drowning in debt and after 8 years of Central Bank pump priming the debt pile keeps on getting exponentially larger while a genuine recovery still lies many years over the horizon.

And if Hillary gets elected then just expect more of the same crap we got from Obama as the good ole US of A gets driven even deeper into the dirt.

Five percent or less unemployment – believe that tortured statistic at your own peril.

As the old saying goes ‘Its the debt stupid’ and nothing has been done to address the root cause of this whole mess ever since knees started jerking and those in power decided to double down on failed policies.

Markets the world over are going to be taken out to woodshed and given the father of all hidings which will make GFC I look like a Sunday afternoon stroll in the park by comparison.

But hey lets just keep pumping our hard earned back into the casino which is currently just as over valued as Canadian and Australian real estate markets…

Good Luck

#63 Ole Doberman on 07.21.16 at 9:37 pm

That was a pretty powerful right up Garth, like Calgary turned into a ghost town – but I still see sold signs on alot of properties and doesn’t take that long either.

Are owners being low balled and biting?

#64 Basil Fawlty on 07.21.16 at 9:42 pm

Trump is calling for the reinstatement of Glass-Steagall, which in 1933 seperated retail from investment banking. It was eliminated in 1999 by Bill Clinton and was a contributing factor to the 2008 financial crisis.

#65 Maldroit Ape on 07.21.16 at 9:42 pm

@Vancouver Troy#29

“How come you never mention the U.S. debt?”

Perhaps while problematic it is not that important as the doomers believe.

As a share of GDP it has been higher.

“Obama has”,

Nope, congress controls the purse strings and while there has been a lot of spending (medicare part d, defense spending, tarp etc). There were also a bunch of tax cuts which really cut revenue (estate tax, lower capital gains), that took the US from a few trillion in 2000 to the 21Trillion it will be next year.

“unpayible $20 trillion dollar”
Pfft as mentioned the debt as a share of GDP has been much higher in the past and could be paid back.

Pretty easy to do as well, just raise taxes and modify the entitlement programs to remove the clauses that prevent medicare/medicaid from using their market power to negotiate prices.

#66 Steerage Bilge on 07.21.16 at 9:42 pm

#40 Brazil ex-pat on 07.21.16 at 8:14 pm

How do you know we have reached Peak Government…….

The BC Govt blew its brains out today telling everyone “Look at the 600 million dollar surplus we have !! – Aren’t we awesome !!”

All at the expense of 3 million dollar tear downs and people sleeping in tents with children because they cannot find anywhere affordable to live.

Canada is doooooooomed.

I see Brazil is right near the top of the misery index… they’ll catch Venezuela pretty soon…all those beach babes.. and yet…still misery…

#67 Market man on 07.21.16 at 9:49 pm

Remember a few years back when a house on Glencairn sold for 1.6 million, had something like 100 offers

I just checked out Toronto sold tonight saw a semi detach sold for 1.3 million on Bedford

If there is a slow melt then waiting to last two years was a waste time lose 15%
It seems that it will take another five years to

#68 BK on 07.21.16 at 9:50 pm

A slow melt? R u freaking kidding me! I better go buy something fast because im not waiting for a glacier to slowly melt away….

#69 Smoking Man on 07.21.16 at 9:54 pm

Why do people get so bent out of shape over narcissistic behaviour.

Its what’s required to make a good man great.

I’m calling the loathing of narcissism as some sort of subconscious malfunction.

Envy maybe. Their trapped in mind of unfairness and self loathing. Pissed cause they were trained to behave like all good students are. Always pretending to put others first but to scared to shout out a Tarzan scream.

Show me a narcissist and I will show you success.
Show me a critic of a narcissist and I will show you an unhappy wage slave.

#70 Gregor Samsa on 07.21.16 at 9:56 pm

Garth nails the situation in Calgary dead on. Everyone is just holding on, waiting for the next oil boom.

Meanwhile, everything I’m reading about oil prices is indicating a repeat of last year, with the $30 oil (and layoffs) returning to city near you.

I personally know one person who will be doing the “jingle-mail” thing sometime soon. His house is for sale but he can’t afford to drop the price a single penny lower, otherwise he’d be stuck paying a mortgage AFTER he sells (how’s that for a kick you know where). Savings / time run out for him at the end of August. At that point he will be broke, unemployed, and homeless. Everything he had was in the house. These people do exist.

There is still a “zombie class” of people who probably also play pokemon go in their spare time who are still buying property in Calgary, but those are your literal Greater Fools, the last gasp, and their numbers are dwindling as they fall off bridges playing pokemon.

#71 Strathcona on 07.21.16 at 10:02 pm

Homes are taking a lot longer to sell here in Grande Prairie, AB. In Northeast BC, Fort St. John and Fort Nelson are quiet. Hotel parking lots are mostly empty now on work nights. It used to be, two years ago, if you didn’t book a week or two ahead, you weren’t getting a room.

I don’t expect much movement anytime soon on oil price, but in coming months, there should be more motivated sellers of RE.

#72 common sense on 07.21.16 at 10:07 pm

#60 WHITE CROCK, BC

No Costco? Your right.

Remember it’s in the USA where prices are lower even with 30% exchange usually.

Imagine only having to buy one of something to save vs. 50?

#73 Maldroit Ape on 07.21.16 at 10:10 pm

“Trump is calling for the reinstatement of Glass-Steagall, which in 1933 seperated retail from investment banking. It was eliminated in 1999 by Bill Clinton and was a contributing factor to the 2008 financial crisis.”

Except it wasn’t, the meltdown in the big US banks was caused by the inability to assess counter-party risk as OTC derivatives were a completely dark market (sorta but not really fixed actually)
The lack of transparency meant no one really understood their exposure and worse allowed straight up gambling like CDO^2 .

Glass-Stegall didn’t prevent Banks from selling derivatives that would explode on them, and sure wouldn’t have prevented AIG (an insurance company) from doing the same thing.

Trump’s call for reinstating Glass-Steagall looks to me to be a straight up attempt to get wall-street to fund his broke campaign as a threat and a opening to revisit the Volker rule. This of course assumes he played any part in drafting the platform as it likely took longer then 4 minutes of attention and involved more then just adjectives.

#74 slim on 07.21.16 at 10:14 pm

Even Micheal Moore thinks Trump will likely be President. But for all the wrong reasons.

http://www.alternet.org/election-2016/michael-moores-5-reasons-why-trump-will-win

#75 Smoking Man on 07.21.16 at 10:15 pm

Ivanka Trump just won the electoral collage for her daddy.

The millennial chic card.

Trump must have one hell of a Dr of Herdonomics in his camp.

#76 Brazil ex-pat on 07.21.16 at 10:20 pm

#65 Steerage Bilge on 07.21.16 at 9:42 pm
#40 Brazil ex-pat on 07.21.16 at 8:14 pm

How do you know we have reached Peak Government…….

The BC Govt blew its brains out today telling everyone “Look at the 600 million dollar surplus we have !! – Aren’t we awesome !!”

All at the expense of 3 million dollar tear downs and people sleeping in tents with children because they cannot find anywhere affordable to live.

Canada is doooooooomed.

I see Brazil is right near the top of the misery index… they’ll catch Venezuela pretty soon…all those beach babes.. and yet…still misery…

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

Good thing I’m not Brazilian.

#77 Smoking Man on 07.21.16 at 10:21 pm

Next president of USA is speaking.

#78 BK on 07.21.16 at 10:25 pm

Garth, you told vancouverites to sell now!

Because of a slow melt? 10% in next couple of years, I’m guessing, maybe??

Only to live in a tent or outbid on a way overpriced uncertain rental???

Am I missing something?

#79 Maldroit Ape on 07.21.16 at 10:29 pm

@Garth
You recommend a diversified portfolio of ETFs and thats all prudent and good, but there are a lot of new ETF products and some older ETNs that people should really not be buying.

e.g. UVIX and TVIX http://www.bloomberg.com/news/articles/2014-04-16/how-a-56-year-old-engineer-s-45-000-note-loss-spurred-sec-probe

Good for Credit Suisse to collect doomer scalps probably a bad idea for everyone else.

#80 For those about to flop... on 07.21.16 at 10:52 pm

Regarding Costco.

At my next Shoppers Anonymous meeting I will have something new to declare.

” Hi, My name is Flop and I’m 42 and never been to Costco”

I think it’s partly because I have no reason to bulk buy being DINC,s….Double Income No Chance.

Also a few months back some people gave Mike Holmes shit for selling out, but Brian Baeumler doing Lowes ads hasn’t risen a peep…

Haven’t been to Lowes either

My neighborhood is full of fruit stands.

Never met a plumbing problem that wasn’t caused by ,or can’t be solved with a piece of rotten fruit….

M42BC

#81 Brazil ex-pat on 07.21.16 at 11:11 pm

Trump just painted a target on his back by telling everyone that Billary is owned by the Wallstreet bankers.

#82 nonplused the engineer on 07.21.16 at 11:13 pm

#39 Entrepreneur

Pumping oil out of reservoirs is going to cause a “void”? Please don’t say things you know nothing about. Every single drop of gasoline you have ever put in your car, somebody put in a boat or a plane or a train (diesel now talking about), every GJ of nat gas you used to heat your house or they used to run an electric plant, world wide, all the planes trains and automobiles, came mostly from removing the oil and gas from a reservoir and there has never been a collapse because it is impossible due to the geology.

There have been a couple of high profile salt dome collapses but these are primarily cause by salt mining and the geology is entirely different. One case you can find on Youtube, an entire lake was drained into a salt mine because an oil drilling rig was in the wrong spot and hit the mine, but the cavern was caused by the salt mine not oil and gas operations. Oil and gas operations do not produce caverns, the oil (or gas) is located in very small pores of what would normally be called a rock that cannot collapse even if you remove some of the oil.

Fracking is of course a different matter, but still unlikely to cause all of the things attributed to it. “Oh they are contaminating the water with 2% diesel by volume!” Ya well more diesel gets spilled every year at filling stations and nobody give a rat’s ass about that. Spilled a bit of gas while filing up your lawnmower? You are as guilty of pollution as a fracking company only you didn’t bring any valuable commodities to market.

It’s time for people to stop taking such a totally childish view of things. If you use an iPhone, drive a car, ride a bus, ride a train, or especially ride a plane you are every bit as complicit in the oil and gas industry as they are themselves. Chances are the electrons that are allowing you to read and disagree with my response are 70% coming from the burning of gas, coal, and oil. Grow up and realize what you yourself are doing. It’s like you are blaming your parents for the population explosion because you were born.

#83 nonplused on 07.21.16 at 11:24 pm

#50 Damifino

It’s spelt “Turdeau”.

#84 Dispatches from the Bently going over the bridge on 07.21.16 at 11:30 pm

#54 Dispatches from Under the Bridge

If most people are too stupid to vote, where, exactly, do you think you would fit in?

Your comment reminds me of a quote I cannot (because I am lazy I think it might have been Churchill) attribute and must paraphrase: “Democracy is the worst possible political system ever devised, except for all of the others.”

#85 sacola on 07.21.16 at 11:31 pm

Today’s was top shelf, Garth!

#86 Smoking Man on 07.21.16 at 11:40 pm

What a night, son 1 posts on face book saying he hasn’t had a home cooked meal in a year. Referring to his 3rd wave feminist phyco bitch wife.

He’s been living in the basement for almost a year. Wifey poo takes it the wrong way,

All hell breaks lose. He’s on his way to the go train station to off himself.

I’m beating the bar.

Shit I got to deal with.

My Perfect father in pain with dementia in palliative care now, a crazy wife that is is frightened of family reading she hasn’t cooked for her first son in a year.

He goes nuts , I try and defuse things by telling my wife your second born was going to jump of a bridge because you pissed him off. Shit she wants a divorce, how can anything be her fault, shes only had one man her entire life.

My gig, dyslexia makes for a low learning curve. I;m on the bubble.

And then I discover, a Micky of JD in the yard..

Ahhhhhhhh I love life.

The nothing else matters moment.

#87 Why not Trump? on 07.21.16 at 11:42 pm

After all, he can’t be worse than the last few presidents. And I mean that he can not be worse. Can he be worse than Clinton chasing Monika around? Seriously, he cannot be worse. It would be impossible for anybody to be worse than the last several presidents except possibly Ted Cruz and maybe that Mormon guy. Oh and Hillary, that would be a total disaster.

You could put a magic 8-ball in the presidency and it would be better at making decisions than most of the US presidents since JFK.

#88 crowdedelevatorfartz on 07.21.16 at 11:44 pm

@#74 &76 Smoking Man
” Ivanka Trump just won the electoral collage for her daddy…..”
********************************************

I see you’ve switched from grain alcohol to mushrooms eh Smokey……..?

Well at least you’ve kept the inebriation organic.

#89 crowdedelevatorfartz on 07.21.16 at 11:47 pm

@#54 Dispatches from under the bridge
“There is a good chance dimwitted, deceitful, thin skinned, paranoid Donald J. Trump has some kind of mental illness. He is definitely a self aggrandizing, lying narcissist that has no position on anything other than everyone else should think he’s great and tell him so at every chance.

God help everyone on the planet if that idiot actually gets elected.
********************************************

YOU are my new hero!

Sorry Garth….you’ve been bumped down a notch……

#90 crowdedelevatorfartz on 07.21.16 at 11:52 pm

@#40 Brazil Expat aka Apocalypto 2016
“Canada is doooooooomed….”
*******************************************

The writing style is striking in its similarity…..a split personality par chance?
Or wishful thinking before you recieve the exorbitant tax increases foisted upon you to pay for the Zika inundated, sewerfest known as Rio2016

#91 Kat on 07.21.16 at 11:52 pm

Wow Smoking Man is an idiot. I bet he doesn’t tip his server either.

#92 Smoking Man on 07.22.16 at 12:00 am

To all you perfect people.

You lose…… The drama of a not so perfect life.

If you embrace it.. it’s richness. Lets hope my bet that Number 1 son is at the bar rather than facing off a go train. Scottish Wife is passed off, shes in my book. I found another JD in the back yard.

Fk It don’t get any better than this.

Libtards will never understand the for the moment thing. safe Wynee hands is all about training.

Were am I going with this post, getting close to black out drunk.

Garthy py attention. You let the other one out the door the other day. Focus man.

Cause I cant

#93 Ole Doberman on 07.22.16 at 12:01 am

Can you guys imagine the presidential debate – little Hillary up against the big Donald.

I can’t wait to see the fear in Hillary’s eyes when she shows up on stage – or maybe she’ll be a no show, hehe.

#94 46 and 2 on 07.22.16 at 12:03 am

Smoking man, I have noticed certain tendencies in your posts. I think and hope you are posting under some type of influence.

If not, seek some help.

If that shit you posted at #85 is true this is not the place to air that laundry.

#95 For those about to flop... on 07.22.16 at 12:04 am

#76 Smoking Man on 07.21.16 at 10:21 pm
Next president of USA is speaking.

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

Bill Clinton is giving a speech?…

M42BC

#96 46 and 2 on 07.22.16 at 12:08 am

Smoking man, I truly hope you are not from Western Canada. Your comments lead me to believe you might have some red on your neck and I hate that stereotype being attached the West.

#97 Bram on 07.22.16 at 12:22 am

On the plus-side:
The Vancouver RE folly means that the Province of BC’s coffers are bulging with money.

BC was taking $1.5B in transfer taxes last year.
Easy money, for which the Province had to do zilch.

http://bc.ctvnews.ca/b-c-posts-730m-surplus-pushed-up-by-housing-revenues-1.2996827

I wonder what they’ll spend it on?
A subway line to UBC would seem a good destination.
Better than that farce with the roof of BC Place!
That one cost a unbelievable $0.55B
(In the history of Earth, was there ever a more expensive roof?)
In other countries, that money buys multiple stadia. In Vancouver, just one roof.

Bram

#98 triplenet on 07.22.16 at 12:24 am

With regard to a PDS, there is a legal requirement that a Seller inform a Buyer of any known defects that may influence a purchase decision. Latent and patent defects.
Dishonesty in this regard is discouraged by the courts.

#99 Wild Albertan Gonads on 07.22.16 at 12:26 am

#39 Entrepreneur on 07.21.16 at 8:12 pm

People want change. Hillary is the same old and Trump is different from the system. The Wall Street protest was a wake up call for politicians to pay attention to the 99% of the people.

Trump favours the Enbridge pipeline coming from Canada? I am sure I heard right, and if so, T2 would wants that too (on a talk show when Harper was in). That pipeline will be pumping oil from the ground in an continuous non-stop flow causing a shift, a void underneath. We must be careful of the amounts.
—-
Ok, that was just really stupid.

#100 bdwy sktrn on 07.22.16 at 1:04 am

Regarding Calgary’s RE and economy, Shawn believes “everything is just fine”!

#101 BMc in the OkV on 07.22.16 at 1:11 am

BC government estimates on foreign buyers is being laughed at in Asia.

http://www.scmp.com/property/international/article/1987371/asian-real-estate-conference-ridicules-canadian-governments

#102 YVR will not be a slow sizzle... on 07.22.16 at 1:16 am

Garth you forgot that Calgary RE corrected in 2008-2009, YVR RE did not; therefore it will not be a slow sizzle.

As YVR RE approaches bottom and after a fast price drop, perhaps the correction will slow…then again that would be an anomoly historically.

Thus is the nature of RE bubbles bursting.

#103 TRT on 07.22.16 at 1:24 am

A few points:

1) Trump win? only if he can win swing states such as Ohio and Florida.

2) US recovery is a bunch of hot air. Was in Yakima, WA this past week and its ugly down there. Never recovered…yet there are help wanted signs at some fast food places offering $10.50 USD/hr to start.

3) Calgary prices held up by immigration and foreign cash. Garth knows this thats why no 40% crash that would have occurred.

#104 macroman on 07.22.16 at 2:20 am

Was that the real Mark in #1?

I can’t believe I read the whole post let alone was cheering him on.

The only reason US employment is up is because they traded one factory job for two 7-11.

Kinda like when the father held one job to support the whole family…then it took women’s lib and the mother, then it took both working two part time 29 hours.

My bullion licking must be making me delusional.

#105 TRT on 07.22.16 at 2:25 am

Trump just killed it tonite with his speech.

MSM propaganda machine is getting scared. They tried the fear mongering with Brexit…didn’t work.

Trump wins and globalism is dead for a few decades. That would really suck for bankers and stock holders.

Lots of anger out there. If tide turns as I think it’s going to, the banksters/multi national corps will have no where to hide.

#106 TRT on 07.22.16 at 2:28 am

@46 and 2:

You are a rookie here. Some of us have been here since The beginning.

First go read all of Smoking Mans past posts and then start commenting.., rather than shooting your mouth like you know where he is coming from.

#107 Joe2.0 on 07.22.16 at 2:30 am

Low borrowing rates will keep RE markets relatively strong as well as weakening actual consumer cash savings.

#108 TRT on 07.22.16 at 2:36 am

And one final thing..,

Vancouver will have a slow melt after prices shoot up another 33.3% in the next 8 months.

Prices on pace to double in 24 months. Wow just wow.

Then probably a slow melt taking them down by about 2% per year like what’s happening in Calgary. Look out!

#109 macroman on 07.22.16 at 2:58 am

Bram #96, have you been to Montreal?

Liberal doesn’t begin to explain the $ROOF.

Damn, never could figger that Twitter acronym #ROOF crap

#110 jane 24 on 07.22.16 at 3:55 am

Trump will win, i learned this from Brexit.

Angry people wanting change are far more likely to get off the sofa and vote than folk who are content or only slightly disillusioned with the status quo.

it is voter turn-out that matters and if the Republicans turn out at the polls and the Democrats who dislike Hilary stay home then Trump is in.

Govern your investments accordingly. Soon be time to move out of US dollars.

#111 Tony on 07.22.16 at 5:07 am

Calgary home prices are already down at least 25 percent from November 2014. If you’re trying to sell one then they’re already down 40 percent because you have to discount the price to the existing market price 40 percent to even get any offer no matter how low it is. Most of the new listings are at the higher end of the market. Oil may test the 20 dollar U.S. mark by February 2017 as commodities will start to get creamed this October. Long term oil always has a trend line at 30 dollars U.S. That’s the level it will probably end up at.

#112 Tony on 07.22.16 at 5:12 am

The U.S. FED and U.S. bankers rigged the price of oil to protect the U.S. banks from bad oil loans. Oil would have dropped to 20 dollars a barrel back in February, the stock market would have also kept on falling. Even with all this rigging Calgary real estate tanked. The very first trading day of July, the second half of the year saw oil sold off or a huge increase in put options. That probably means oil will fall for the remainder of this year.

#113 Dispatches from Under the Bridge on 07.22.16 at 5:29 am

“#38 For those about to flop… on 07.21.16 at 8:10 pm”

Excellent, except I can’t believe that you could play 18 holes with Mark without hearing how CHMC is 23 quadrillion dollars overextended and screwed.

Smoking Fool as usual you are wrong and a delusional idiot. I have no idea what or how much of it you would have to marinate you brain in to arrive at the insane conclusions you do. Remember puff, puff pass. Don’t bogart the joint you dick, oh wait pot could never make you that stupid, never mind. Just get back on the meds the doctor gave you, it’s for your own good.

#114 Scott Cordier on 07.22.16 at 7:06 am

The bottom line is there are takers and there are makers. When the takers are more than the makers and we are getting closer everyday, we will be severely screwed like U.S.S.R., Argentina, Zimbabwe, Greece, Cuba, Bolivia and many and many others throughout history like currently Venezuela, Puerto Rico etc.

Liberals, NDP, Green Partyand all these parties that have social programs and tax to death as their utopia, dreamland policies that always fail.

They only create more debt, more inflation and more poverty, misery in the long run. We should have a 30 year minimum period in Canada where the social program pushers have all their way.

Pierre Elliot Trudeau lasted 16 years and people could not take it anymore. Liberalism and socialism is a huge failure and will always be.

#115 Mr. Frugal on 07.22.16 at 7:32 am

So when is this global warming thing supposed to start? Weren’t we supposed to be underwater by now?

http://www.breitbart.com/big-government/2016/07/21/global-warming-expedition-stuck-in-arctic-sea-because-of-too-much-ice/

#116 TurnerNation on 07.22.16 at 8:34 am

#15 nonplused the only two people Americans chose? They did not. Way higher up the control pyramid they were chosen.
(Same pyramid as seen on US dollar bill).

See the trick in life is to be smart, smart enough to know there are people way f’kn smarter than you running the show. More diabolical, too.

Brain dead actors for bread and circuses while we get robbed and enslaved.

#117 economictsunami on 07.22.16 at 8:36 am

Government figures purport to show inflation as low but rising US costs for rents, healthcare, insurance and education etc. tend to be excused.

The “Misery Index” is just computed by taking the sum of the unemployment rate and the inflation rate for a given period.

So basically, a meaningless, badly skewed, marketing number.

There is also UM Consumer Sentiment

http://www.advisorperspectives.com/dshort/updates/Michigan-Consumer-Sentiment-Index

and (not to be outdone)

The weekly Gallup: Economic Confidence Index.

Americans’ Economic Gloom Festers as Stocks Hit New High: Gallup Stumped

(Or more aptly put: You can’t fool all of the people, all of the time Index.)

http://wolfstreet.com/2016/07/19/americans-economic-gloom-risis-stocks-hit-high-asset-bubbles-not-helpful/

As for Brexit:

Flash PMI’s came out just this morning and the boy’s who cry wolf blame the deteriorating numbers on the vote.

If one paid attention to the overall trend, numbers were headed south anyway but may become more amplified. (note the chart)

Brexit Wreaks Havoc on U.K. Economy as Recession Risk Increases

http://www.bloomberg.com/news/articles/2016-07-22/brexit-vote-wreaks-havoc-on-u-k-economy-flash-estimates-show

But hey, everyone knows that bad news is only bad news for the real economy but good news for stimulus addicted markets…

#118 MF on 07.22.16 at 8:40 am

#54 Dispatches from Under the Bridge on 07.21.16 at 9:07 pm

Did you get a chance to read or see Trump’s speech yesterday?

It was awesome.

He laid it all out well. That speech should clinch the presidency (seriously).

MF

#119 Nelley on 07.22.16 at 8:41 am

The incredible thing about Trump is that getting this close to winning the Presidency when the MSM hates and despises you to this extent is an incredible accomplishment already. The previous high water mark was Ross Perot but Trump has surpassed that by a mile.

#120 fancy_pants on 07.22.16 at 9:00 am

we are traveling down a road that will guarantee a result in one of two outcomes (or a mix of both): higher interest rates or inflation. And to give you a hint, you should worry less about #1.

#121 proud papa on 07.22.16 at 9:03 am

Holy chit…. we’re all forked. Stick a fork in us. We’re done.

The only “growth” we’re experiencing are the financial cancers of systemic risk and financialization’s soaring wealth/income inequality. The Keynesian gods have failed, and as a result we’re in the eye of yet another global financial hurricane.

#122 IHCTD9 on 07.22.16 at 9:13 am

#6 Great Advice on 07.21.16 at 6:32 pm
Don’t buy a house, and don’t expect a meaningful drop. After all this waiting. What excellent advice you’ve given these people. Since you’ve started some neighborhoods in Toronto have literally tripled (Markham). And now you’re saying we shouldn’t expect a meaning drop. Excellent.
____________________________________________

LOL, so go ahead and drop a mil on a tear down right now- it’ll be worth triple in a few years. Get on it today.

I love folks like you with the benefit of hindsight getting up on your high horse to give Garth “a good talking to” Slap those wrists because you knew all along what was really going to happen.

Put your money where your mouth is right now. Is GTA RE a great investment right now? If so, sign that deal, and start those payments because it’s only going up. Do it now.

Then come on here and tell us what you paid and post a link to a pic of your new digs.

Buddy, if you don’t like the prices – move. Garth’s given you that little pc of advice as well.

#123 IHCTD9 on 07.22.16 at 9:19 am

#7 MSM-Free Zone on 07.21.16 at 6:33 pm

If this divisive, narcissitic nutbar ever gets the keys to the Oval Office I’m sure we’ll be witnessing street riots that make the Watts and Rodney King times look like graduation picnics.
____________________________________________

Yes, violence and riots are becoming strongly correlated with angry leftwingnutism these days.

Hell, I’m expecting cold blooded murder and mass killings to be formally added to the list pretty soon from the looks of it.

#124 };-) aka Devil's Advocate on 07.22.16 at 9:32 am

Central Bank Scam

#125 };-) aka Devil's Advocate on 07.22.16 at 9:36 am

“I fear banking institutions more a threat to our civil liberties than standing armies” Thomas Jefferson.

… and he said that more than 200 years ago

#126 The crackdown has started on 07.22.16 at 9:39 am

Chinese “investor” is being investorgated LOL by Chinese banks for defaulting on loans in China and taking the money and running … to Vancouver and buy real estate.

China bank wants a lien on the property and recoup their losses.

Vancouver RE meet stampede of sellers to cash out while the getting is good and the banks of China aren’t breathing down their necks….

This will be interesting to watch. Is BC.gov going to abide by the claims from China and allow the lien? What if the guy is now trying to sell his multi million Dollar home? Will BC.gov allow the sale or put a lid on the deal before guy can get his money out?

Is this a tide receding moment or a flood of lawsuits coming to town?

Those who purchased on spec and hope for ever greater valuations better take notice. The Chinese are DEAD serious about tracking and cracking the outflows from China.

Chinese RE purchases in Canada are hurting Chinese banks which are stuck with NPLs.

Good luck to CIBC selling Canadian RE bonds to European banks with a negative rate. Don’t the Europeans remember what happened when they bought the crappy US mortgage papers?

Oh well… retiring Norwegians will soon be poorer – again

#127 };-) aka Devil's Advocate on 07.22.16 at 9:44 am

DELETED

#128 Rational Optimist on 07.22.16 at 9:51 am

44 Bottoms_Up on 07.21.16 at 8:25 pm

“The child benefit is means tested on gross income, so RRSPs cannot be used to get an increase.”

He’s right that it’s calculated based on net income.

#129 Doug on 07.22.16 at 9:54 am

“It’s taken two years for this disaster to unfold. It’ll take many more to recover. And we’re not at the bottom yet. Those who expected Calgary prices to drop by 40% in the months after oil prices plopped were as misguided as the realtors who argued a major city like Calgary (with the hottest housing market in the country three years ago) was safe.”

Garth can you explain what you mean here? So things didn’t drop off 40% – meaning despite it all Calgary may only correct 10-15% ish?

#130 Noel on 07.22.16 at 9:56 am

…because left-leaning governments spend more money and love deficit financing. Leftists solve problems by feeding them. Rightists deal with trouble by starving it. Stimulus on the left, austerity on the right.
________________________

This is false. It has been shown time and time again that (at least in North America), right leaning governments spend more and increase the size of government at a faster pace than the left.

http://www.politicususa.com/2012/12/27/obamas-record-destroys-republicans-big-spending-democrat-propaganda.html

“Looking back at annualized growth in federal spending, the biggest spender was Ronald Reagan (8.7%) followed closely by Bush II (8.1%), Bush I (5.4%), and Bill Clinton (3.2%). As a matter of fact, even Clinton’s low of 3.2% federal spending growth is nearly two-and-a-half times higher than President Obama’s 1.4% during his first term in office. Reagan and George W. Bush’s spending was over five times as high as President Obama, and yet they are considered avatars of fiscal responsibility by conservatives of all shapes and sizes.”

#131 Trump is my Bitch on 07.22.16 at 10:02 am

#68 Smoking Man on 07.21.16 at 9:54 pm
Why do people get so bent out of shape over narcissistic behaviour.
Its what’s required to make a good man great.
I’m calling the loathing of narcissism as some sort of subconscious malfunction.
Envy maybe. Their trapped in mind of unfairness and self loathing. Pissed cause they were trained to behave like all good students are. Always pretending to put others first but to scared to shout out a Tarzan scream.
Show me a narcissist and I will show you success.
Show me a critic of a narcissist and I will show you an unhappy wage slave.
………………………………………………………………..
Wow you really do believe your own shit doesn’t stink. Your in good company. Narcissism comes in many forms. Whats your form? Well here is to your success with your narcissistic friends. cheers ;) BTW Trump is a conniving narcissistic idiot. But you love him unconditionally, great see how it goes. Generally narcissists do not tend to congeal.
Oh yes and not an unhappy wage slave but an independent business owner than you.

http://listverse.com/2011/11/14/10-monumental-malignantly-narcissistic-sociopaths/

#132 boomer88 on 07.22.16 at 10:10 am

There will not be any housing slowdown as long as China prospers. You need a catalyst and I don’t see one on the horizon. Virtually every house that sold in my Mississauga neighborhood (good school district) in the past 3-4 years (about 20-30 houses) was purchased by Mainland Chinese buyers. I’m simply stating a fact, I see elderly Chinese people doing Tai Chi everywhere now, lots of BWM and Benz. In response to economic slowdown China created few trillions of new credit $$ , some of that money will find its way here sooner or later. There is a lot of wealth that’s looking for safe place to park.

Yes. The world wants to move to Mississauga to be near a new Staples location. — Garth

#133 Herb on 07.22.16 at 10:13 am

Ladies and Gentlemen,

please do not object to Smoking Man.

The only one who must read him is our host, and he’s a masochist, so it doesn’t hurt him either.

#134 Dave in Kincardine on 07.22.16 at 10:19 am

I wish people wouldn’t be so hard on Garth. He is just a man who puts his pants on one leg at a time just like the rest of us. For ever buyer there is a seller, whether that is stocks, real estate. Both have different opinions on the transaction.

When it is all said and done, be a good saver. That is half the battle. What you put it into can go against logic and common sense and still win or visa-versa. Respect the man who rights this blog. It is not easy and he has helped many be educated. That is an achievement worth cheering about. Bravo Garth.

#135 Ole Doberman on 07.22.16 at 10:29 am

#115 Nelley on 07.22.16 at 8:41 am

The incredible thing about Trump is that getting this close to winning the Presidency when the MSM hates and despises you to this extent is an incredible accomplishment already. The previous high water mark was Ross Perot but Trump has surpassed that by a mile.
———————————————————-
Good observation – if Perot hadn’t of dropped out he would have been a clear winner.

It was the Illuminati that got to him.

#136 Tony on 07.22.16 at 10:40 am

Re: #3 powder_hound86 on 07.21.16 at 6:19 pm

They tell you prices have only fallen about 4 percent so they can keep ripping off everyone on their property tax. Already prices in Calgary have fallen about 25 percent since November 2014. Prices should fall about 50 percent from top to bottom as oil will likely flat line at 30 dollars U.S. a barrel for decades not before making a new low around October 2017 around $18.80 U.S. a barrel. They also tell you back in 1983 houses fell about a third it was more like one-half.

#137 Gregor Samsa on 07.22.16 at 10:49 am

The “tolerance” of the left is on full display here in these comments. Any poster that dares come out pro-Trump in these comments has been named called, insulted, disparaged, called an idiot, etc. Zero hateful comments from pro-Trump people.

What does Trump do to rile these people up so much? He simply tells the truth. How many of you actually watched Trump’s 70 minute speech last night? Perhaps you should, so you learn what you are actually fighting against.

Trump will win this election, and win it big, because the guy selling truth always has an easier truth then the side peddling lies.

As for the market reaction to Trump, how did the markets react to Brexit, when it was all said and done? The answer is RECORD HIGHS.

#138 calgary report on 07.22.16 at 10:50 am

hi, calgary reporter here. moved to calgary from texas in 07. partly due to price shock n partly due to price above reason, been looking on n off for a house since.
flat to 0%-4% decline seems right. that is what i see. anything in move in ready condition n priced right or a bit flexible on price sells within 2-3 weeks at most (used to be a day).
0%-5% drop didnt tempt me to bid for anything yet. rented a bigger nicer house for a year n will keep looking. quality of listing is better n some nicer ones r starting to fall into our range. thinking am ready to go into bidding war for a house that meets ALL criteria now. losing trust in fiat currency with time. n i have quite a bit of it.

#139 Moron Face on 07.22.16 at 11:05 am

Clinton & the Dems to take the House and the Senate. The S&P 500 will hit 4000 by the end of her 1st term. This is the 1990s…

Real estate will be looked at for what it is: land (we have lots in Canada), brick, mortar and little else.

#140 Hooped Again on 07.22.16 at 11:12 am

The Laughing Clown Prince – S Poloz has beaten inflation and will never raise rates. This convieniantly gives the Trudeau Liberals the opportunity to borrow more billions at ‘super selfie low rates’. We’re on the verge of enlightenment folks, hope you don’t mind 100% taxation like thy’re headed for in the maritime provinces and Wynnes Basketcase.

http://www.bnn.ca/canada-s-inflation-stays-steady-at-1-5-bank-of-canada-expected-to-stand-pat-1.530896

#141 Ronaldo on 07.22.16 at 11:15 am

#93 46 and 2 on 07.22.16 at 12:03 am

”Smoking man, I have noticed certain tendencies in your posts. I think and hope you are posting under some type of influence.

If not, seek some help.

If that shit you posted at #85 is true this is not the place to air that laundry.”
————————————————–
Don’t take it so seriously. Smoking man is a fiction writer. Pretty good at it too. Almost as believable as Donnie.

#142 White Crock BC on 07.22.16 at 11:23 am

jane 24 on 07.22.16 at 3:55 am

Trump will win, i learned this from Brexit.

Angry people wanting change are far more likely to get off the sofa and vote than folk who are content or only slightly disillusioned with the status quo.

it is voter turn-out that matters and if the Republicans turn out at the polls and the Democrats who dislike Hilary stay home then Trump is in.

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

But then there’s this too…

https://www.washingtonpost.com/politics/trumps-candidacy-sparking-a-surge-in-citizenship-voter-applications/2016/05/11/33808f34-177a-11e6-924d-838753295f9a_story.html

—————————————————

Govern your investments accordingly. Soon be time to move out of US dollars.

Into what? Canadian Dollars?

I wonder how long it would take Keystone to be approved after Trump takes office….

#143 TurnerNation on 07.22.16 at 11:34 am

USD/CAD uppa up again. Gold is sht as usual.

#144 jess on 07.22.16 at 12:10 pm

Regional Integration Without Empire

By

Henry C.K. Liu

Presented at the 2015 Eurasian Workshop at IIASA, Luxemburg, Austria – Sept 15-16

http://www.henryckliu.com/page268.html

#145 Smoking Man on 07.22.16 at 12:12 pm

MSM in full out mental breakdown now that Trump is crownd.

http://russia-insider.com/en/us-regime-media-gets-its-panties-bunch-over-trumps-nato-remarks/ri15773

#146 Bram on 07.22.16 at 12:23 pm

#105 macroman on 07.22.16 at 2:58 am

I’ve indeed not been to Montreal, but looked up the stadium there….

Damn, wikipedia mentions a $1.6B for Montreal’s stadium.
Second most expensive in the world.
http://www.forbes.com/2008/08/06/expensive-stadiums-worldwide-forbeslife-cx_ae_0806sports_slide_10.html?partner=sinatw

Interestingly, Detroit’s stadium just sold for $583K, that is almost 3000 times cheaper. Heh :-)

#147 trumpetytrumptrump on 07.22.16 at 12:36 pm

Garth

I think you are a closet Trump supporter but are just afraid to admit it, due to the bashing you took from all the feminists.

Go Bill-ary Go

#148 Ole Doberman on 07.22.16 at 12:36 pm

Does any blog dog go on ‘rentfaster.ca’

Why is there so many million dollar homes looking to get rented out – there can’t be that many O&G executives out of work. And what renter can afford 3-5K/month rent?!

Or were these flippers who got caught in the down turn? Flipping million dollar houses could hurt.

#149 Shawn on 07.22.16 at 12:40 pm

Devil’s Advocate at 120 posted a link to a misguided idiot who thinks that fractional reserve banking is nefarious.

Click the link if you want to become misguided or, more likely, if you would like to reinforce an already misguided vie about banking.

He also states that “all the banks are broke”. We heard a lot of that in 2009 AFTER the bank bailouts (which were loans that all the big banks have long since repaid with interest). But the big banks in the U.S. were not broke and in fact are now more financially healthy than they have been in decades in most cases. (Higher capital ratios). Those who shorted banks in 2009 based on them being broke lost that bet and lost money.

Be careful who you listen to. Avoid doomers.

#150 Brazil ex-pat on 07.22.16 at 1:08 pm

#89 crowdedelevatorfartz on 07.21.16 at 11:52 pm
@#40 Brazil Expat aka Apocalypto 2016
“Canada is doooooooomed….”
*******************************************

The writing style is striking in its similarity…..a split personality par chance?
Or wishful thinking before you recieve the exorbitant tax increases foisted upon you to pay for the Zika inundated, sewerfest known as Rio2016

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

Rio2016? What’s that? Is there something going on there I should know about? I don’t live anywhere near there so I don’t pay any attention……

#151 jess on 07.22.16 at 1:17 pm

fuses of the past

1886
The Haymarket Square Riot
http://www.history.com/this-day-in-history/the-haymarket-square-riot

“On May 4, 1886, the Haymarket Riot changed labor history. August Spies, a German anarchist spoke to the crowds, and during the march that ensued, an unknown person threw a bomb — a relatively regular event in the US during the years from the 1880s through the 1920s, and where the stereotype of the bomb throwing anarchist comes from — murdering policeman Mathias J. Degan. Several police officers, aside from Degan, appear to have been injured by the bomb, but most of the police casualties were caused by bullets, largely from friendly fire. Newspapers estimated at least fifty civilians died.”….
http://www.atlasobscura.com/places/haymarket-square

=======
undercutting efficiency?
Hospital CEO says health care system broken, favors Medicare for all
http://www.chicagotribune.com/business/ct-edward-hospital-bill-kottmann-exec-qa-0717-biz-20160715-story.html
“There are people who have not been in health care before, and they are finding that it’s profitable for them to do so. Look at Wal-Mart with their walk-in clinics. We also heard they’re looking at potentially buying some imaging equipment….’

#152 jess on 07.22.16 at 1:21 pm

145 Shawn on 07.22.16 at 12:40 pm
what is an edge corporation?

…”the London Whale scandal

Senator McCain :

“This case represents another shameful demonstration of a bank engaged in wildly risky behavior. The ‘London Whale’ incident matters to the federal government because the traders at JPMorgan were making risky bets using excess deposits, portions of which were federally insured. These excess deposits should have been used to provide loans for main-street businesses. Instead, JPMorgan used the money to bet on catastrophic risk.”

#153 Bram on 07.22.16 at 1:29 pm

#132 Tony on 07.22.16 at 10:40 am

They tell you prices have only fallen about 4 percent so they can keep ripping off everyone on their property tax.

That is not how property tax works.
The city determines in advance how much the absolute value of their taxation will be.

Often the same amount as last year plus 2% inflation or so.

Then you pay your share based on the total of assessed value in the city. If ALL the assessments go up by +40%, you still pay the same as last year, plus 2%

Your comment is an uninformed knee-jerk reaction.

#154 Noel on 07.22.16 at 1:45 pm

#133 Gregor Samsa on 07.22.16 at 10:49 am
….

What does Trump do to rile these people up so much? He simply tells the truth. How many of you actually watched Trump’s 70 minute speech last night? Perhaps you should, so you learn what you are actually fighting against.

_____________________

I doubt you’ll bother clicking on either of these links because Trump supporters rarely care about the truth, but I urge others to see the lies that Trump spouts.

http://www.politifact.com/personalities/donald-trump/

http://www.politicususa.com/2016/07/21/donald-told-21-fact-checked-proven-lies-acceptance-speech.html

#155 Shawn on 07.22.16 at 1:49 pm

Average Property Tax increases in a City are unrelated to average property value changes

Tony said:

#132 Tony on 07.22.16 at 10:40 am

They tell you prices have only fallen about 4 percent so they can keep ripping off everyone on their property tax.

*******************************************
Property taxes are set according to the budget needs of the City.

When house prices double the property tax per dollar of house value falls in half, all else equal.
When a City says its property were increased by 4% that number is already adjusted to account for the average change in market values.

Sorry but property taxes will not fall on average if house prices drop on average.

YOUR property tax bill will drop if YOUR assessment falls more than average.

Those on here who actually have owned a house for years can look and see that if the house price has shot up over the years then their tax bill per $100 of assessment has undoubtedly fallen even though the City indicated tax rates had risen. (Because they mean risen assuming constant average market values)

In this manner property tax rate increases have always been presented honestly because they exclude the impact of average changes in property values.

You can be absolutely assured that the property tax per dollar of market value in Vancouver, for example, has fallen dramatically over the years even as the City stated (honestly) that the property tax rates were rising. They meant their tax rates were rising assuming unchanged market values. As far as I know, this is how property tax increases are presented across Canada in order to present an honest view of the tax increase separate from changes in market values of property.

#156 Mr. Frugal on 07.22.16 at 1:55 pm

#150 Noel on 07.22.16 at 1:45 pm
#133 Gregor Samsa on 07.22.16 at 10:49 am
….

What does Trump do to rile these people up so much? He simply tells the truth. How many of you actually watched Trump’s 70 minute speech last night? Perhaps you should, so you learn what you are actually fighting against.

_____________________

I doubt you’ll bother clicking on either of these links because Trump supporters rarely care about the truth, but I urge others to see the lies that Trump spouts.

http://www.politifact.com/personalities/donald-trump/

http://www.politicususa.com/2016/07/21/donald-told-21-fact-checked-proven-lies-acceptance-speech.html

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

More liberal propaganda. What liberals lack in character and moral fiber they certainly make up for with consistency. Just remember that for every Bob Ray there must be a Mike Harris and for every Jimmy Carter there must be a Ronald Reagan. Liberals make the mess and Conservatives clean it up.

#157 Heisenberg on 07.22.16 at 1:58 pm

#150 Noel on 07.22.16 at 1:45 pm

I doubt you’ll bother clicking on either of these links because Trump supporters rarely care about the truth, but I urge others to see the lies that Trump spouts.

….

http://www.politicususa.com/2016/07/21/donald-told-21-fact-checked-proven-lies-acceptance-speech.html

——————————–

I read it. I was really hoping to have some sort of “Aha!” moment. Weak article…. Trump’s opinions alleged to be lies based on someone else’s opinions.

If that’s the best that Clinton supporters can come up with, Trump is a shoe-in.

#158 46 and 2 on 07.22.16 at 2:09 pm

#137 Ronaldo

Smoking Man may be a lot of things but one thing he is not is a writer.

Unless mindless babble some how became a form of literature.

He is prolific though….I will give him that.

#159 Noel on 07.22.16 at 2:41 pm

#152 Mr. Frugal

More liberal propaganda.
_____________

Trump: We Need to Take National Enquirer Seriously on Ted Cruz–JFK Assassination Link

http://www.slate.com/blogs/the_slatest/2016/07/22/trump_gets_back_into_the_rafael_cruz_jfk_conspiracy_theory.html

You Trumpetters are a hoot!

#160 BOOM! on 07.22.16 at 2:47 pm

Watched a bit of the circus (convention?) last night. Other than Pence, a fairly useless wooden stick, I have no clue who Trump would surround himself. There were a lot of “I” this, and “me” that, but little else. Oh yeah, there was a fracking guy he suggested for the EPA -just what we need.

For a guy who claims to haven’t read book in years, one has to guess where all this ‘knowledge’ came?

At least the other candidate, a lawyer, stateswoman, senator has some definite credentials.

Americans who thought Dubya was GREAT will surely LOVE TRUMP!!

Yup, we sure can pick ’em, like we pick our noses…

I’m voting for an alternate party…

#161 devore on 07.22.16 at 3:01 pm

#21 ROCK BEATS PAPER

There are 151M employed persons in the US, a 5M increase under Obama. The population surged 16M during that period.

Expect the trend to continue, even accelerate, as boomers march into retirement. Ditto for low growth, low rates, and low demand for energy. Demographics are gonna be a bitch for the next 2 decades.

#162 Nelley on 07.22.16 at 3:17 pm

Another terrorist attack in Munich-must be in response to Donald Trump’s hateful racist, sexist rhetoric. We just need to love them as Crooked Hillary says.

#163 Shawn on 07.22.16 at 3:29 pm

Demographics and GDP

FAR too much attention is paid to GDP growth.

Is Japan so bad off due to demographics that caused a low GDP growth?

Japan’s unemployment rate has been under 5% for years.

What is the standard of living in Japan? Has it fallen for a typical worker?

We fall into the trap of thinking that there is some “we” or “our” when it comes to Canada’s GDP or economy. Not so much.

Remember, Canada is NOT a collective.

What matters to YOU is your own earnings and wealth. That has a very very low correlation to Canada’s collective GDP growth.

So what if Canada’s growth falls due to more retired people? How exactly will that affect YOU. There is no collective here. Sure taxes are partly collective but what is the impact of that? a point or three change in tax rates? So what? your own changes in earnings should DWARF that.

Forget demographics and GDP and make your own way in this world.

#164 hope & ruin on 07.22.16 at 3:32 pm

America would elect a black man or an ostentatious billionaire before they will elect a woman. I wish we could have seen Trump vs Obama campaign, i think Obama would have run circles around him.

Entitlements and social benefits increase more under republican admins than democrats.

#165 };-) aka Devil's Advocate on 07.22.16 at 3:34 pm

#145 Shawn on 07.22.16 at 12:40 pm

You are missing the point. It’s not about banks actually being broke per se. It’s about the Ponzi scheme economic order and that we keep kicking the can down the road to keep it alive so that the shepple can be fleeced in perpuity. But anyone with half a brain knows that this Ponzi scheme economy is simply unsustainable.

But live the fat assed Kardasian lifestyle while burying your head in the sand about the real mechanics and eventual end game. Neither you nor I will bear the ultimate cost it will be our childrens children. In the meantime live it up butter cup. Don’t be a doomer and gloomer, rape, pillage burn baby burn. I endorse all that because we are such a stupid greedy f**cking race we’ll never fix anything until the discomfort is great enough and the best way to get there is to be ignorant of what is inevitable.

#166 };-) aka Devil's Advocate on 07.22.16 at 3:41 pm

#123 };-) aka Devil’s Advocate on 07.22.16 at 9:44 am

DELETED

I get it. Jim Jefferies is a foul mouthed fellow but his opinions societies absurdities are spot on };-)

#167 Blacksheep on 07.22.16 at 3:43 pm

Shawn # 145,

“Devil’s Advocate at 120 posted a link to a ‘misguided idiot’ who thinks that fractional reserve banking is nefarious.”
——————————————–
Quote from:

Shawn Allen # 199 on 07.04.16 at 3:33 pm

“Some resort to calling those with a different understanding liars.”

“Blacksheep’s name calling reflects badly on him.”
——————————————–
Whoa there, Shawn of the fead, maybe try a little consistency?

#168 Messed up on 07.22.16 at 4:26 pm

#152 Mr. Frugal on 07.22.16 at 1:55 pm

#150 Noel on 07.22.16 at 1:45 pm
#133 Gregor Samsa on 07.22.16 at 10:49 am
….

What does Trump do to rile these people up so much? He simply tells the truth. How many of you actually watched Trump’s 70 minute speech last night? Perhaps you should, so you learn what you are actually fighting against.

_____________________

I doubt you’ll bother clicking on either of these links because Trump supporters rarely care about the truth, but I urge others to see the lies that Trump spouts.

http://www.politifact.com/personalities/donald-trump/

http://www.politicususa.com/2016/07/21/donald-told-21-fact-checked-proven-lies-acceptance-speech.html

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

More liberal propaganda. What liberals lack in character and moral fiber they certainly make up for with consistency. Just remember that for every Bob Ray there must be a Mike Harris and for every Jimmy Carter there must be a Ronald Reagan. Liberals make the mess and Conservatives clean it up.
…………………………………………………………………..
It was 75 minutes of pure crap. No substance to show how or what he will do what he says he will do. I am sure that if he is elected I would have to build a bomb shelter. What a total loudmouth typical New Yorker he is. LA hates this guy.

http://www.vox.com/2016/7/21/12254434/fact-check-trump-acceptance-speech-republican-convention-rnc-2016

#169 Metaxa on 07.22.16 at 4:39 pm

The “tolerance” of the left is on full display here in these comments. Any poster that dares come out pro-Trump in these comments has been named called, insulted, disparaged, called an idiot, etc. Zero hateful comments from pro-Trump people.

Boy howdy!
Gonna need some citations on that statement.

Reading that paragraph the only thing that came to mind was “butthurt”.

#170 Doug in London on 07.22.16 at 5:56 pm

Leftists solve problems by feeding them. Rightists deal with trouble by starving it. Stimulus on the left, austerity on the right.
——————————————————————-
Oh, I get it. The leftists (that’s the Democrats with Bill Clinton with president) had a budget surplus and were well on their way to paying down a good portion of the national debt because of stimulus while austerity on the right (that’s the Republicans with George Bush as president) caused the United States to go back into deficit. It all makes sense now.

#171 Mr. Frugal on 07.22.16 at 6:59 pm

#164 Messed up on 07.22.16 at 4:26 pm

I see you read VOX. That explains EVERYTHING.

#172 Mr. Frugal on 07.22.16 at 7:02 pm

#166 Doug in London on 07.22.16 at 5:56 pm
Leftists solve problems by feeding them. Rightists deal with trouble by starving it. Stimulus on the left, austerity on the right.
——————————————————————-
Oh, I get it. The leftists (that’s the Democrats with Bill Clinton with president) had a budget surplus and were well on their way to paying down a good portion of the national debt because of stimulus while austerity on the right (that’s the Republicans with George Bush as president) caused the United States to go back into deficit. It all makes sense now.

_________________________________________

The same Bill Clinton that gave nukes to North Korea and raped Juanita Broderick. A real gem of a human being.

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

P.S. He’s the guy that changed the banking laws which caused the GFC. You should read more and bark less.

#173 Barb on 07.22.16 at 7:28 pm

Driving through Kelowna Hwy 97 early this morning, the sheer number of Alberta license plates was incredible!

Bet close to outnumbering BCers!

#174 };-) aka Devil's Advocate on 07.22.16 at 7:49 pm

#133 Gregor Samsa on 07.22.16 at 10:49 am
The “tolerance” of the left is on full display here in these comments. Any poster that dares come out pro-Trump in these comments has been named called, insulted, disparaged, called an idiot, etc. Zero hateful comments from pro-Trump people.

What does Trump do to rile these people up so much? He simply tells the truth. How many of you actually watched Trump’s 70 minute speech last night? Perhaps you should, so you learn what you are actually fighting against.

Trump will win this election, and win it big, because the guy selling truth always has an easier truth then the side peddling lies.

As for the market reaction to Trump, how did the markets react to Brexit, when it was all said and done? The answer is RECORD HIGHS.

There are those who are competitive and then there are those who are collaborative. Through collaboration you amplify each of the resources brought to the table. In competition someone losses as the mentality of each is to take and not give, fight instead of cooperate.

Comments like “Bomb the shit out of them” is a pretty competitive comment. Trump is a narcissistic competitive asshole who, I believe, is too potential a promotional instrument of war.

If the US were to have done to Canada what they have done to the middle east I am quite sure there would be Canadian terrorists committing much the same atrocities as ISIS. America has pillaged Middle Eastern resources, raped their women, killed their children, bombed their cities and more. It’s not the American people who have done this. It’s not even the American politic that has done it. It’s those American based business interests that control the economy of the world.

We live in a world of increasing prejudice and hate. Trump promotes that through his fear mongering.

There are two sides to every story. Trump clearly has not taken so much as a nano-second to consider that. Unfortunately there are far too many like him who are not mature enough to look beyond their own ignorant, selfish, prejudicial, bullshit, ignorant preconceived notions to consider anothers point of view as possibly having some inkling of validity.

Doomer and gloomer? Look at the average North American Kardashian dipshit and tell me were not headed for our own self extinction.

#175 Doug in London on 07.22.16 at 10:34 pm

@Mr. Frugal, post #168:
I didn’t say the Bill Clinton administration never made mistakes, but the economy was doing well and as I said they ran a surplus before they left. Was the George Bush administration any better, starting a war with Iraq over weapons of mass destruction that didn’t exist and and running a deficit at a time when the economy was actually doing well and should have been running a surplus? How about Donald Trump, do you think he would do any better as president?

#176 Brett on 07.23.16 at 11:49 am

Sold our house in Calgary three years ago. We have been travelling out of the country on average five months per year ever since.

We are earning money from our invested equity. Home prices continue to decline. renting has reduced our monthly shelter costs.

After three years of travel the equity from our home exceeds the inflation adjusted amount. And home prices are down (in our price range) and continue to drop.

As I tell my spouse, even though we do not live in Toronto or Vancouver we cannot afford to buy right now. The opportunity cost of buying in this market is too high.

Real estate types in Calgary still claim that the market is rebounding. Not so. 25 percent office vacancy rate and declining downtown monthly parking fees, and traffic, tell a different story.

#177 Moron Face on 07.24.16 at 12:16 pm

Let’s see if the top in the US 10-year (TLT) on July 28th holds. I think that was at the very least an intermediate term top. July 28th might have been the ultimate low for treasury yields.