Bitter taste

no-chew

With but two trading days left, financial markets have decided to turtle. This, after all, is one for the history books. By Friday night US stock markets had posted their longest slide in 36 years – way back to when I was a child in 1980. The latest election polls had narrowed again, showing Clinton grabbing 291 Electoral College votes to Trump’s 241 – meaning the impossible had a 35% chance of happening.

The election made the latest positive job stats irrelevant, even though they should promise a rate hike next month. The coming vote has propelled the VIX (the ‘fear index’) higher for the ninth day in a row – something that’s never happened previously. Bond prices climbed the most in months. As the opinion polls indicated growing populist support for the untested, rebel billionaire and disenchantment with the status quo career politician, more and more money moved into safer havens. Wall Street can still taste Brexit. It’s bitter.

The best-case scenario for financial markets, which hate uncertainty, is a Clinton win, then compromise government as she works with a Republican Congress. The worst case is an election without a clear winner, or one in which Clinton squeaks by and Trump refuses to concede, becoming an agent of social unrest. Given the anti-government, anti-trade, anti-elites, anti-immigration, anti-corporate, anti-global, pro-patriotism and protectionist stance of the Trumpian masses, this is viewed in many bank towers as something akin to the plague.

Well, Monday and Tuesday will deliver more of the same. If there’s no absolute and certain winner on Wednesday, expect worse. Or if a new president is elected with a clear mandate, brace for the opposite. Remember that whomever is POTUS when the dust clears, the economy won’t change, nor will corporate profits, consumer spending, or the capital markets. The best defence is a balanced and globally-diversified portfolio, with 40% in safe stuff that’s there to stabilize things, counter the volatility and hedge against flighty equities.

By the way, last night a CBC type asked a Trump supporter at one of his revival-hall rallies what she’d do if her hero fails on Tuesday night. “Well,” she drawled, “I’ve got my guns and my gold.”

Donald Trump has made the nutbars think they matter. Maybe they do. May Allah help us.

$     $     $

So it wasn’t just the US that had a good month for new jobs. Canada recorded a boffo performance with 44,000 fresh hires. Sadly, far too many were part-time, but a job’s a job, nonetheless.

The big news is Canadian interest rates aren’t going lower soon. Maybe never, actually. First we had that big announcement on Tuesday that the T2 feds will be spending $81 billion they don’t have in order to finance the digging of holes and building of bridges. This was exactly the news the Bank of Canada was praying for, so it need not drop rates to rescue the economy – but risk making the locals even hornier to borrow.

Second, a good jobs report – the best in months – taking the pressure off the central bank and showing there is some momentum out there. Third, Ottawa’s new deficit/debt/spending (it’s what Libs do best) will be putting some pressure on the bond market, since a ton of money will ultimately be raised there to finance all those new shovels. All in all, no rate cut. This is the bottom. TD Bank signaled that a few days ago by upping its prime mortgage rate. Lock in, kids.

$     $     $

Many on this pathetic blog consider realtors to be pond scum. That may be unfair to bacteria in the case of Gary ‘Mr. Action’ Fayerman. The Calgary Re/Max dude this week managed to offend almost everyone, where he published this Remembrance Day-Buy My House ad…

remember

Fayerman’s office was peppered with calls suggesting where he could stick all his full-page community newspaper ads. He was savaged on Facebook. The Cowtown media dumped on the guy from a great, sanctimonious height. The realtor’s epic bad taste is now the one thing he’ll probably be remembered for.

When he reacted, Gary say he had no excuse. He felt remorse. It never occurred to him that he would so cheapen and disrespect us all. At least he’s not running for president.

142 comments ↓

#1 TurnerNation on 11.04.16 at 6:48 pm

Whoa…Keg Restaraunts (KEG.UN) lost 9.22m last quarter and is negative on the year in net profit.

Guess I’m not the only only objecting paying $16 burger +$8 beer +14% tax +15% tip.
Over $30 for a freakin burger and beer in Kanada. 

Starve the Beast folks :-) buy  locally sourced meat from local butcher and cook/bbq at at home.

#2 Victoria Real Estate Update on 11.04.16 at 6:48 pm

MYTH: BUYERS FROM ASIA “DISCOVERED VICTORIA” IN 2015

The stats revealed that only 0.68% of sales in Victoria went to buyers from all of Asia (not just China).

Local realtors and media are to blame for intentionally misleading locals with false information.

These lies were intended to make locals feel that they had better buy now before they “miss out”. You’ll find this garbage in the comment section of Garth’s blog.

Unfortunately for the mortgage holders who bought these lies and took on hefty mortgages at bubble prices, their actions, which helped to push prices higher, have also helped to create the conditions that will fuel falling prices in the future.

MYTH: ALL MARKETS IN THE US CRASHED

In general, it was the bubble markets in the US that experienced major corrections/crashes. Not all markets had formed bubbles.

Irrational, fear-driven buying was a big reason some US cities – LA, San Diego, San Francisco for example – formed housing bubbles (think Victoria).

The extreme overvaluation that resulted from the irrational, fear-driven buying helped fuel the deep price declines in these American bubble cities. Some major California markets lost 50% or more.

Other US markets that hadn’t formed bubbles experienced much less severe corrections.

MYTH: “IT HASN’T HAPPENED YET SO IT WON’T”

Believe it or not, to some it’s perfectly local to assume Canadians shouldn’t expect a major correction/crash simply because it hasn’t happened yet.

For real.

This is beyond ridiculous. They said the same thing in Ireland, Iceland, Japan, Greece, Spain, the US, etc…

How did that turn out for them?

It’s always different until it isn’t.

#3 Johnny D on 11.04.16 at 6:48 pm

Figure REITs are a bit oversold?

#4 Linda on 11.04.16 at 6:48 pm

Out of curiosity, who is considered an ‘elite’? Is it only those whose incomes are in the 1% range to top income earners? Because it seems to me that if anyone is perceived to be doing any better financially than anyone else the title of ‘elite’ is bestowed upon them, regardless of what their actual financial state might be.

#5 jay on 11.04.16 at 6:55 pm

Garth, here’s a condo in lalaland you might be interested in ,not sure if it’s in your price range though. http://www.jeremybogue.com/listings/mls/R2121458/vancouver-west/coal-harbour/3101-277-thurlow-street

#6 45north on 11.04.16 at 7:01 pm

First we had that big announcement on Tuesday that the T2 feds will be spending $81 billion they don’t have in order to finance the digging of holes and building of bridges.

they also don’t have the money to change the locks on the mailboxes. A year ago Canada Post gave us community mailboxes and took away service to our door. I was not in favour but they didn’t ask me. Anyway I just got a letter from Canada Post: “we will be upgrading the lock on your community mailbox compartment. Some customers experienced issues last winter and this new lock will be much less likely to freeze in winter conditions”. This is an unnecessary and costly project. I had no problems last year and neither did my neighbours. I would expect that out of thousands of community mailboxes some would have problems in the winter.

this is a sign that as a society we are running out of ideas.

#7 prairiegopher on 11.04.16 at 7:01 pm

It will be interesting if Trump wins to see baby Trudeau crawl in a corner and cry.

#8 SWL on 11.04.16 at 7:07 pm

Disgusting ad.

Social unrest just may be what the creeps who really call the shots have been and are looking for. Perhaps that is why the tables have been turning on their boot licking candidate, Hilary.

The globalist elites, the ones who have dismantled America and the freedom it once stood for from the inside, have been indeed planning for this social unrest for years. Not only did they rob most of the world from most of its real wealth via the Federal Reserve and the US Military. They then turned and used that wealth to further perpetuate their twisted desire for complete control over an unsuspecting population.

This election has been a gong show and is a complete distraction from any real issues, and sadly could be a catalyst to martial law south of the border. At this point martial law is not a matter of if, but when. They are far more prepared for this situation than you are.

For those who want to go further down the rabbit hole…

Check out UWEX 16 – Jade Helm 15’s meaner and more disgusting brother who has been preparing for something most simply refuse to comprehend or understand

#9 David on 11.04.16 at 7:08 pm

Prepare for a Trump win on Tuesday when all of the closet Trump admirers who are afraid of condemnation by their politically-correct friends cast a secret ballot for the guy they know in their hearts is right. Pipeline shares will spike.

#10 crowdedelevatorfartz on 11.04.16 at 7:13 pm

What did the Calgary public expect from a desperate Realtor?
Honesty? Compassion?

Bwahahahahahahahaha

#11 Balmuto on 11.04.16 at 7:14 pm

Wow that’s tasteless. The joke is bad enough on its own but with the picture to boot? What was he thinking?

#12 WTH ? on 11.04.16 at 7:15 pm

DELETED

#13 JBJB on 11.04.16 at 7:17 pm

A realtor with no common sense – what!?

Never heard of such a thing.

#14 Hawk on 11.04.16 at 7:18 pm

A really funny must watch video regarding the Donald’s Support.

Whether he wins or not, he has done what no American politician has achieved in recent times, i.e. pushed the US middle class into the forefront of national concerns.

https://www.youtube.com/watch?v=FujWMYm34z8

#15 Randy on 11.04.16 at 7:19 pm

A miracle happened. I went to University, I graduated and I’m still not a Liberal.

#16 MSM-Free Zone on 11.04.16 at 7:20 pm

Speaking of REALTURD’s (as opposed to genuine REALTOR®’s) clearly, as was the case in B.C., the Ontario Real Estate Board (OREB) has confirmed that it is completely incapable of self-regulating even a road-side lemonade stand.

“…In the Marketplace investigation, CBC producers visited several top Toronto-area real estate teams, posing as homebuyers. In several cases, agents who held a listing promised to give our producers an advantage in a bidding war if they worked with them…”

“…Six out of 10 agents promised to share confidential information and give an advantage if they were to represent both parties in a bidding war….”

“….For unethical behaviour in a double-ended deal, those fines are typically in the $3,000 to $5,000 range. By contrast, the typical amount an agent with double commission would earn, based on the average Toronto home price, is about $40,000…”

http://www.cbc.ca/news/business/better-enforcement-steeper-fines-what-s-needed-to-fix-the-real-estate-industry-1.3835689

#17 DON on 11.04.16 at 7:22 pm

“Second, a good jobs report – the best in months – taking the pressure off the central bank and showing there is some momentum out there. ”

But as housing slides and construction slows, jobs will be lost, seems like this increase in Canada is short term gain. As usual the pain will begin after Christmas.

#18 David McDonald on 11.04.16 at 7:24 pm

If Trump is elected there will be more to worry about than a slump in the stock markets. I am fearful of someone so irresponsible having his finger on the nuclear trigger. Heaven help the USA!

#19 DON on 11.04.16 at 7:25 pm

Remember:

“Make America Great Again” is catchy might prove to be timely as well.

#20 Goldie on 11.04.16 at 7:30 pm

A great sanctimonious height indeed. Although I agree that it was in poor taste, I shake my head at the media for engaging in their usual “expose and shame” tactics.

And as for the “CBC type”… I can pretty much guarantee that they didn’t send anyone to a Clinton rally looking for reactions to a potential Hillary loss. Just a typical example of smug liberals mocking things which PC deems safe to mock (white rednecks). Which do you people think is more likely to lead to violence, based on attitudes and events thus far in the election campaign? A Hillary loss or a Trump loss? In my opinion, based on precedent, a Hillary loss will lead to violence and minor riots in several US cities. A Trump loss will not produce any riots. Maybe a few drunken bar fights. No matter the outcome, expect the media to lie, lie, lie!

#21 jay on 11.04.16 at 7:30 pm

#6 45 north I agree ,it’s all smoke and mirrors .GDP in Canada in 2015 $1.5 trillion .Feds are going to spend $81 billion over 11 years ,big deal. Junior’s daddy would be proud of the deficits he’s going to run over his term though.

#22 common sense on 11.04.16 at 7:35 pm

Well no matter what happens Tuesday, no one can say the last few months and next year haven’t been interesting….

#23 Johnson McMurtry on 11.04.16 at 7:40 pm

I, like many, absolutely despite real estate agents. I think they are all filthy human beings.

Having said that, I feel a little badly for Mr. Fayerman. First of all, yes, he did something very, very stupid (but come on, he’s a real estate agent, which means that he’s not very intelligent to begin with, so let’s give him a break). Second of all, he legitimately apologized in a very heartfelt way…he knows he was wrong. I have to give him credit for taking full responsibility for his error. He’ll obviously never do anything like that again.

#24 The real Kip on 11.04.16 at 7:43 pm

“The election made the latest positive job stats irrelevant, even though they should promise a rate hike next month.”

Janet Yellen will be lucky to have a job next month. There will be no FED rate hike.

#25 The real Kip on 11.04.16 at 7:48 pm

A nation of 350-million people and those two idiots are the best they can come up with to contest the presidency? Americans deserve better.

#26 TRT on 11.04.16 at 7:51 pm

Election 2016 may elect Trunp if :

1) You believe 2-4% of the people polled secretly vote for Trump even though they said Clinton in public.

And

2) the polls to date are rigged to favour Clinton. Rigging within margin of error. Say 2-3%.

If above true, then Trump next president.

#27 crowdedelevatorfartz on 11.04.16 at 8:00 pm

@#6 45 North
“This is an unnecessary and costly project”
********************************************
Unfortunately when SNC Lavalin is involved in govt 3rd party mangement.

http://investors.snclavalin.com/en/news-releases-and-ir-calendar/news-releases/3031/

Please note in their own press release they have retained the Postal contract…. especially the mailboxes…

They have a tendancy to “boost” their management fees……….come what may

But it’s all, eventually, coming to a head…….

http://www.google.ca/url?url=http://www.theglobeandmail.com/report-on-business/sncs-fraud-corruption-hearing-set-for-2018/article28929552/&rct=j&frm=1&q=&esrc=s&sa=U&ved=0ahUKEwiFw-Kwp5DQAhVY22MKHezgA74QFggUMAA&usg=AFQjCNEupHv9TFTUQ7wq-SUo8r16AeEf_A

I used to work for them.
They disgusted me.
I quit.

#28 vreu dreamer on 11.04.16 at 8:02 pm

#2 Victoria Real Estate Update on 11.04.16 at 6:48 pm
MYTH: BUYERS FROM ASIA “DISCOVERED VICTORIA” IN 2015

The stats revealed that only 0.68% of sales in Victoria went to buyers from all of Asia (not just China).

Local realtors and media are to blame for intentionally misleading locals with false information.

These lies were intended to make locals feel that they had better buy now before they “miss out”. You’ll find this garbage in the comment section of Garth’s blog.

Unfortunately for the mortgage holders who bought these lies and took on hefty mortgages at bubble prices, their actions, which helped to push prices higher, have also helped to create the conditions that will fuel falling prices in the future.

MYTH: ALL MARKETS IN THE US CRASHED

In general, it was the bubble markets in the US that experienced major corrections/crashes. Not all markets had formed bubbles.

Irrational, fear-driven buying was a big reason some US cities – LA, San Diego, San Francisco for example – formed housing bubbles (think Victoria).

The extreme overvaluation that resulted from the irrational, fear-driven buying helped fuel the deep price declines in these American bubble cities. Some major California markets lost 50% or more.

Other US markets that hadn’t formed bubbles experienced much less severe corrections.

MYTH: “IT HASN’T HAPPENED YET SO IT WON’T”

Believe it or not, to some it’s perfectly local to assume Canadians shouldn’t expect a major correction/crash simply because it hasn’t happened yet.

For real.

This is beyond ridiculous. They said the same thing in Ireland, Iceland, Japan, Greece, Spain, the US, etc…

How did that turn out for them?

It’s always different until it isn’t.

I GOT TWO WORDS FOR YOU SWEETHEART……
‘MIGRATION AND IMMIGRATION’….end of story

#29 Context on 11.04.16 at 8:05 pm

Trump is in PA now about to give his speech and will be interesting to hear what he will say now.

#30 vreu dreamer on 11.04.16 at 8:05 pm

#5 jay on 11.04.16 at 6:55 pm
Garth, here’s a condo in lalaland you might be interested in ,not sure if it’s in your price range though. http://www.jeremybogue.com/listings/mls/R2121458/vancouver-west/coal-harbour/3101-277-thurlow-street

58 million condo eh…..
Yup, those damn locals again….LOL

#31 Doug t on 11.04.16 at 8:09 pm

History is littered with chaos – at this point in time it matters little who wins the erection down south. The world is experiencing a shift as it has countless times before – people are pissed off at the establishment, they are fed up with the hollow void of consumer capitalism and they fear the uncertainty of their future and their children’s future. It’s not going to get better either – things will progressively get worse around the globe – protests will become more and more frequent – wars will continue to destabilize regions and civilian lives will be lost. History shows us that new beginnings do not come about until the old system is ravaged. Get ready because it is not going away.

RATM

#32 Hotdogs from Heaven on 11.04.16 at 8:23 pm

So it wasn’t just the US that had a good month for new jobs. Canada recorded a boffo performance with 44,000 fresh hires. Sadly, far too many were part-time, but a job’s a job, nonetheless.

————————————————

Are you kidding me? This is “boffo”????

The same jobs report also stated that we lost over 20,000 full time jobs. Why not mention that?

Full time jobs run from minimum wage to 6 and 7 figure salaries. Part time jobs in this country are almost always minimum wage jobs with few benefits, and no pensions, stock plans, profit sharing, et al.

Having so many adults in this country trying to pay rents or mortgages and raise their families on $11/hour working 30 hours a week or less is economic suicide.

“Boffo” indeed!

#33 willworkforpickles on 11.04.16 at 8:23 pm

And then come the days into the future not too far away when food will be worth more than real estate.
And when these things begin to come to pass, then look up, and lift up your heads; for your redemption draweth nigh. Luke 21:28

#34 nonplused on 11.04.16 at 8:27 pm

So when Al Gore challenged the election results in 2000, that was ok, but if Trump does it that reeks of foul play? It should be remembered that it is democrats who introduced us to the concept of challenging the election results if they don’t like them.

In any case it won’t matter too much who wins. The deep state will still be in control. Trump is a master persuader, but ultimately he is deeply connected to the deep state and that has been part and partial to his success. It may in fact be the case that the deep state prefers Trump as it will give them an excuse to make a break from previous foreign policy disasters.

Elections mean something, a little bit, but not as much as people think. Harper is gone from the scene now but Canada is pretty much the same place under Trudeau for now. Changing the captain doesn’t change the nature of the ship. Remember all that “Hope and Change” Obama promised? What they got was more of the same. He distracted everyone with Obamacare and then blew up Libya and moved half of NATO to the Russian border.

Remember Trudeau’s pledge to find an alternative to the F-35, which Canada doesn’t need and can’t afford (and it doesn’t fly right anyway)? What happened to that a few days into office? If Canada’s primary mission is to protect Canadian airspace against pesky Russian bombers, the F-18 Super Hornet is a better alternative at a fraction of the cost. You only need stealth if you plan on sneaking into someone else’s airspace. And given the Super Hornet’s vastly superior range and speed, it’s much better suited to the open expanses of the Canadian North. Yet we are going to continue buying the F-35, which might not actually be able to catch a 60’s era Russian bomber, because the fix is in. It has been a long standing tradition in the Canadian air force that to fly long distance missions over the arctic you need 2 engines, each capable of returning the plane to base. Am I missing something? How does the F-35 fit that bill?

The more things change, the more they stay the same. Trump is using tried and true psychology to get the restless and disenfranchised to vote for him, but he can’t really change the system. Only a revolution could do that.

#35 A Yank in BC on 11.04.16 at 8:29 pm

Nine in a row. The “market indicator” that Garth referred to about a week ago is now pointing solidly Trump. Lord have mercy on us all.

#36 espressobob on 11.04.16 at 8:30 pm

Owning major index ETFs takes all the guesswork out of the equation. Pullbacks in the markets provides a buying moment most miss. That can be a real bummer in hindsight.

Warren Buffet said ‘ be greedy when others are fearful and fearful when others are greedy’.

Contrarians get this.

#37 BS on 11.04.16 at 8:32 pm

The best-case scenario for financial markets, which hate uncertainty, is a Clinton win, then compromise government as she works with a Republican Congress.

It will be good short term for the markets if HRC wins. But, Republicans will try to impeach HRC the day after inauguration and they will block everything she does. I doubt she will get a Supreme Court Justice appointed in her term. There are so many skeletons in Hillary’s closet it will take years to get past if she keeps out of prison.

On the other hand if Trump wins the market and USD may tank and that will be a buying opportunity IMHO.

#38 Toronto the Terrible on 11.04.16 at 8:33 pm

Oh, woe is Toronto. People continuing to vastly overpay for rotting hundred year old houses, with big fat mortgages that they will never pay off. A life time of debt slavery for houses that not only cost a fortune but another fortune to renovate. It’s called “rent a lifestyle” from your bank. Pretend like you can actually afford a million dollar mortgage. You reinforce this, by buying lots of things on your credit card, like expensive name brand clothing. And then taking out a HELOC to finance an Audi and to put in a marble backsplash. Oh Toronto, you house of cards.

#39 ROCK BEATS PAPER on 11.04.16 at 8:35 pm

…anti immigration oh yeah and anti corruption! Luckily more than half of America is “nutbars”.

#40 Figmund Sreud on 11.04.16 at 8:37 pm


HEROD:

She is monstrous, thy daughter; I tell thee she is monstrous. In truth, what she has done is a great crime. I am sure that it is a crime against some unknown God.

HERODIAS:

I am well pleased with my daughter. She has done well. And I would stay here now.

HEROD:

[Rising.]

Ah! There speaks my brother’s wife! Come! I will not stay in this place. Come, I tell thee. Surely some terrible thing will befall. Manasseh, Issachar, Ozias, put out the torches. I will not look at things, I will not suffer things to look at me. Put out the torches! Hide the moon! Hide the stars! Let us hide ourselves in our palace, Herodias. I begin to be afraid.

[The slaves put out the torches. The stars disappear. A great cloud crosses the moon and conceals it completely. The stage becomes quite dark. The Tetrarch begins to climb the staircase.]

THE VOICE OF SALOME:

Ah! I have kissed thy mouth, Iokanaan, I have kissed thy mouth. There was a bitter taste on thy lips. Was it the taste of blood? . . . Nay; but perchance it was the taste of love. . .They say that love hath a bitter taste. But what matter? what matter? I have kissed thy mouth, Iokanaan, I have kissed thy mouth.

[A ray of moonlight falls on Salome and illumines her.]

HEROD:

[Turning round and seeing Salome.]

Kill that woman!

[The soldiers rush forward and crush beneath their shields, Salome, daughter of Herodias, Princess of Judæa.]

[CURTAIN.] — Oscar Wilde, Salome

Virtually no one will admit the belief in the point this snip makes, but this is what vast many people in the West believe, … to one degree or another.

Still, whatever one may think of Hillary Clinton, … but she does represent a historic candidate!

F.S. – Comox, BC.

#41 WalMark of sadkatoon on 11.04.16 at 8:38 pm

I bet Gary Fayerman got a ton of business from all th press. Certainly more business than if the ad went unnoticed. Controversy sells!

#42 Rexx Rock on 11.04.16 at 8:39 pm

Here in Puerto Vallarta I got a burger,fries and a beer for less than $10.Canada is screwed thats why I don’t go out to restaurants.Mexico is a great place for poorer American and Canadian retirees.

#43 TheWilyKatipo on 11.04.16 at 8:48 pm

Well, you expect that kind of offensive stupidity from used house salesmen, don’t you? And you can hardly blame them for having become completely unshackled from reality and humanity over the past couple of years.

#44 conan on 11.04.16 at 8:50 pm

Despite saying 1000 stupid things and coming across as a boorish buffoon. Here he is, The Trumpster.

It makes no sense for him to be where he is. It usually only takes one stupid thing to sink you in politics. Who was the guy who said “Yee haw” the wrong way?

This rabbit hole goes deeper then the allure of Ivanka.

#45 May Allah help us on 11.04.16 at 8:56 pm

Garth you converted already?

#46 Jungle on 11.04.16 at 9:00 pm

GTA housing still going very strong.

Just remember they are importing 300k immigrants now per year and want to raise it 500k>you know where they will all end up. Vancouver and Toronto.

For anyone that has taken public transit lately or tried to rent a place, i would say the there is going to be big problem with lack of infrastructure and affordable housing to accommodate this. The cities don’t have the money to expand this fast.

A new crises is just brewing.

#47 Nuke trigger on 11.04.16 at 9:03 pm

18 David McDonald on 11.04.16 at 7:24 pm
If Trump is elected there will be more to worry about than a slump in the stock markets. I am fearful of someone so irresponsible having his finger on the nuclear trigger. Heaven help the USA!

If you are old enough and don’t suffer from Alzheimer’s you would know that this is an election standard in US elections since the nuke exists.

If you are a Millennial – well, you are being played by your masters like a violin, because you don’t know history.

#48 Smoking Man on 11.04.16 at 9:04 pm

The US presidential election is summed up by 2.5 types of electoral animals.

Animal 1
The urban intellectual and I say that very lightly. The schooled spent far to much time face down in books. The yellow highlighter spending hours on end guessing on what to memorize for judgment day, the grand prize, the obedience certificate. A cult ritual and form of mind control, While the real world, whiz past them. They are tuned to catch phrases. They know good words and inappropriate words and they never cross the line just like they were trained to. Fitting in at all costs is the best way to describe this group.

Animal 2
The Worker bees, not book smart, they use any words, don’t care much about fitting in. While the urbanite had it’s nose into the book The bees have watched their prosperity and lifestyle go down the drain. They all know something is wrong but are not smart enough to figure it out or come up with a plan B. Automation and globalization make their future prospects bleak. So what do we do with them? A cull? Along comes Donald Trump. putting a meaning into it for all the disfranchised rivet buckers.

Animal 0.5
The Smoking Men. board men who have a propensity to shit disturb because of low boredom tolerance combined with high intellect, While Animal 1 and 2 go at it tooth and nail, The Smoking Men figure out ways to capitalize on this divide and my root for Animal 2 if that’s the desired market. Path of least resistance. But because Smoking Men are pure genius. Animal 1 will also bye into the long thought out narrative .

#49 Scully on 11.04.16 at 9:05 pm

2016 presidential race (to the bottom) has been the low light of society. I am so sick of the divisiveness, hatred and bigotry that has become the latest social trend. I’m outta here. I’ve booked a trip to Mexico. Hopefully the wall will be built while I’m down there.

#50 Smoking Man on 11.04.16 at 9:08 pm

#25 The real Kip on 11.04.16 at 7:48 pm
A nation of 350-million people and those two idiots are the best they can come up with to contest the presidency? Americans deserve better.
….

One is a crook, the other a brilliant marketer.

#51 WUL on 11.04.16 at 9:09 pm

Below, I will make a comment about Gary Fayerman’s lapse of judgment, mistake and ham fisted advertisement in the community newsletter that arrives on my porch in Calgary once per month. But first a couple of points.

The Veteran’s Food Bank in Calgary is out of food.

By now many of you will have seen the TV advertisement of Bell which is an attempt to monetize Remembrance Day in a syrupy fashion. The girl who finds a pen pal in Flanders to send a pressed poppy to hand to a veteran selling poppies in the street. Millions spent on the ad campaign with beautiful videography and nuanced style that Gary could not offer.

Upon submitting this comment, I will go to Bell’s website to see if there is news of their significant donation to a veteran cause. Perhaps they do not publicly announce their charitable efforts, but I doubt it. I suspect it is an appeal to our heartstrings to increase their profits. Also reprehensible but they do it in a sophisticated fashion.

Now turning to Gary and his nationwide public shaming with the internet and its permanence. I have known Gary for about 17 years and enjoyed every time I encountered him in the hockey arenas around Calgary when our kids were in minor hockey. His wife and adult children are good people and he is a gentleman, unassuming and with a wonderful sense of humour. He and his family are fine neighbours of mine.

He has owned up to his breach. His apology is sincere and he immediately made a donation to the Veteran’s Food Bank in Calgary.

I am a big supporter of second chances as I have been provided more than my share. We pay for our mistakes but in this era of the internet and social media, sometimes the recompense is out of proportion. Death threats are over the top.

Now that Melania Trump is taking on the challenge of cyberbullying, the world will be a finer place starting next Tuesday.

#52 jess on 11.04.16 at 9:13 pm

“When the CCO brought the coded SWIFT messages to the attention of bank management in the Fall of 2014, the CCO was told to refrain from communicating with regulators and was effectively silenced”

…”DFS examiners found that the New York Branch of Agricultural Bank of China has conducted U.S. dollar clearing in rapidly increasing volumes since 2013 through foreign correspondent accounts, even after DFS warned the Bank not to increase its dollar clearing transactions until it significantly improved its compliance function. The Bank willfully ignored DFS’s warning and dollar clearing transactions by the Bank at the New York Branch skyrocketed in 2014 and 2015, creating an untenable risk at a time when the Bank was not able to satisfy even basic compliance requirements.

The Bank also was found to employ non-transparent and evasive transaction methods, including sending coded messages through the Society of Worldwide Interbank Financial Telecommunication (SWIFT) system that masked the true parties to a transaction and avoided screening by DFS. The SWIFT wire message system permits bank compliance staff to screen and monitor transactions in compliance with BSA/AML requirements, OFAC regulations, and the requirements of DFS and other regulators.
mpliance personnel at the New York Branch also discovered alarming transaction patterns, including:…

http://www.dfs.ny.gov/about/press/pr1611041.htm

#53 Smoking Man on 11.04.16 at 9:38 pm

So wifey poo reads my book from start to finish. trying to find mist spelt words, commas and periods.
Ha, good luck. I got internet tools bitch.

She frowns, “this book is ridiculous, your going to make a laughing stock out of yourself. Don’t publish it whatever you do, if you do, don’t let anyone we know, you wrote it.”

Honey after the fever in the spring when I almost died and it wiped out the coding side of my brain. Combined with my stupidity on greater fool, I’m never getting a job on Bay street again. writing is all I got left to feed your addiction. Are you willing to give up the casino,?

She thinks for about 10 seconds and says, every ridiculous thing you have tried seems to work out well. But honestly, this book really sucks we are in trouble now.

She hated 50 shades of grey, hates the three stooges and dumb and dumber movies, my favourites.

I love my book, I’ve read it hundreds of times, I almost have 30k words memorised. I think it’s great.

#54 Indie Chick on 11.04.16 at 9:42 pm

Toronto is my birth city and this will be my last winter here before leaving for greener pastures, literally. Thankfully my beau and I are both mobile and currently renting. Don’t see much of a future here. Why anyone would piss away their life paying for a shack is beyond me. Shackled to a shack haha, that should become Toronto’s slogan.

#55 traderJim on 11.04.16 at 10:06 pm

Just one question Garth: Doesn’t the fact that the fascist, Hitler loving, nuclear button pushing, lunatic Trump has a very real chance of being elected prove that the ‘nutbars’ hoarding gold and guns are actually the smart ones?

#56 Mean Gene on 11.04.16 at 10:14 pm

Realturd®

#57 Bytor the Snow Dog on 11.04.16 at 10:15 pm

I’ve been “Smoking Man” -ning tonight. I reserve the right to not get deleted tomorrow.

Garth permitting.

Not happy.

#58 traderJim on 11.04.16 at 10:17 pm

p.s. For the record, I own neither guns nor gold. I do have a good chunk of real assets that are income producing which is my protection for the devaluation that paper currencies inevitably and relentlessly suffer.

It would have been wonderful if a calm, erudite, quick witted man or woman with absolutely zero skeletons in the closet was running in place of Trump.

But I have come to the conclusion that it would be impossible for a person like that, if they even exist, to get where Trump is, and to do what Trump is doing.

To really, truly, change the ‘system’ takes a billionaire madman who really does not give a damn what people think of him.

Personally, much as I would like to see the end of corruption and mediocrity in government, I don’t think Trump will be able to make a real dent.

But it sure as hell is entertaining to watch him make a go of it.

#59 Rich Young on 11.04.16 at 10:18 pm

Garth, It’s quite clear. Get out of the markets. I’m 100% cash. We are in a depression caked over with Government stimulus and market manipulation. If we took all that away and left the world to be it’s own… it would look like the Great Depression. All Governments have managed to do… Kick the can down the road.

#60 Rural Rick on 11.04.16 at 10:19 pm

Donald Trump has made the nutbars think they matter. Maybe they do. May Allah help us.

This is too true. Good one.

#61 Smoking Man on 11.04.16 at 10:20 pm

Obama lashes out. A Soros boy. Soros a hybrid with the same DNA from Shlong Zumanga, a Nicotine pilot from our planet. Lucky for you heathens, this Sky pilot from Nictonite has your backs.

One world governments can only work if we can all read each other’s minds. Till then you humans are on the shit list from the Nictonite council. They are unforgiving

Ear buds on… go.

https://www.youtube.com/watch?v=Ckom3gf57Yw

#62 Canadian Soldier on 11.04.16 at 10:23 pm

Great article Sir! I know this is way off topic, but I wanted to answer #34…..The decision has been made that since the 35 only has one engine…..we would need a special unit of search and rescue technicians ready to find an ejected pilot….which would just add more secret cost to the 35…..

#63 Bottoms_Up on 11.04.16 at 10:27 pm

Romney and Palin for Prez and VP. Actually sounds palatable, eh?

#64 WUL on 11.04.16 at 10:32 pm

Well, I went to Bell’s website to see if there was mention of a contribution from their vast wealth to the cause of our Veterans in conjunction with their current ad campaign featuring poppies and veterans.

I could not find anything.

I could be mistaken and if I am, I extend my deep and sincere apology to Bell, but only if they are offended.

And here I am cyberbullying. Sorry.

#65 Paul on 11.04.16 at 10:37 pm

@- #25 The real Kip
“A nation of 350-million people and those two idiots are the best they can come up with to contest the presidency? Americans deserve better.”

We have T2 here! Canadians deserve better.

#66 Smoking Man on 11.04.16 at 10:37 pm

Saying words, nothing else matters.

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

#67 Deplorable Dude on 11.04.16 at 10:48 pm

#4 Linda “Out of curiosity, who is considered an ‘elite’?”

Anyone doing weird Satanic sh*t apparently…

#SpiritDinner #Podesta #Wikileaks

And folks are worried about Trump…….

#68 Smoking Man on 11.04.16 at 10:49 pm

Marketing 101

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

#69 bdy sktn on 11.04.16 at 10:50 pm

#232 NEVER GIVE UP on 11.04.16 at 6:44 

I will not repeat the quote but when did racist hate speech become ok here?

#70 BobC on 11.04.16 at 10:50 pm

#14 Hawk

Video is perfect. Absolutely perfect.

#71 Doug t on 11.04.16 at 10:52 pm

#59 Rich Young

EXACTLY

#72 Smoking Man on 11.04.16 at 11:05 pm

Why i have a few fans

https://www.youtube.com/watch?v=UIVe-rZBcm4

#73 Smoking Man on 11.04.16 at 11:08 pm

When walking is hard.

https://www.youtube.com/watch?v=0sB3Fjw3Uvc

#74 conan on 11.04.16 at 11:09 pm

RE #53 Smoking Man on 11.04.16 at 9:38 pm

Maybe your book will be so dumb that its good.

The Trump of books.

#75 Smoking Man on 11.04.16 at 11:13 pm

When a lefty finds out The herd is pissed. What, gender manifesto is unraveled.

https://www.youtube.com/watch?v=0sB3Fjw3Uvc

#76 ShawnG in TO on 11.04.16 at 11:15 pm

Hey Mr Garth,

for the next few days, there is no better show on earth than Dump vs Killery. it’s a bigger circus than the sun.

clearly the blog dawgs have lots to say, so let’s not fight the force and join the fun.

let’s have a blog vote before the big night.

plenty have already made their choices clear, but it’s convenient to have it all in one place, so we can point at it 50 years from now and say “your voted wrong guy, im smrter then you”

#77 Smoking Man on 11.04.16 at 11:26 pm

Songs I grew up too. I got this

https://www.youtube.com/watch?v=ni8KZmwwc1Q

#78 not 1st on 11.04.16 at 11:32 pm

Garth democracy doesn’t owe wall street a thing.

#79 Smoking Man on 11.04.16 at 11:37 pm

911

ttps://www.youtube.com/watch?v=Fyt_oEtxUJk

#80 Pulsars are Cool on 11.04.16 at 11:40 pm

Even pets hate Trump

https://www.youtube.com/watch?v=Ale1Ye9K0kQ

#81 Smoking Man on 11.04.16 at 11:53 pm

I’m done

https://www.youtube.com/watch?v=4oYp3AQqG1U

#82 Frank on 11.04.16 at 11:58 pm

So when Al Gore challenged the election results in 2000

That didn’t happen. There was a mandatory recount.

#83 stage1dave on 11.04.16 at 11:59 pm

I’m not certain Trump’s political legacy (whatever the outcome of this election) is as simple as his undoubted appeal to rednecks and preppers, and their supposed attempted overthrow of all things good and democratic haha

Whatever his true beliefs, intentions, or actual political leanings, he’s tapped into a vast well of simmerimg resentment that cuts across a lot of demographics; that much is apparent by the reaction of the MSM…the elites are nervous.

(btw, an “elite” is anyone who can get a bank president to take their phone call)

Secondly, all this hullaballoo may ultimately prove is that JJ Astor was absolutely correct. The great unwashed have a lot of things to vote against, but very seldom someone to vote for…that’s the way the system works. Keeps most people fighting amongst themselves, and far too distracted with petty disputes to form any large group that could push for effective, and sensible, change.

That F-35 sure is a dog, huh? Hundreds of billions later, and all we got is a make-work project…pretty much the standard for military procurement over the last couple generations.

(I’m reminded of Maj Zockler’s famous outburst when he was confronted with undeniable evidence of performance shortcomings in the F-111 program along with increasing cost overuns; and whether it could actually live up to expectations…and “work”…he finally blurted out “…what do we care if it WORKS?!” After which he proceeded to lay out the TRUE mission of military procurement procedures)

My old man and three of his brothers were WWII veterans and “lifers” in the postwar RCAF, so I always figured that if you’re asking someone to put there ass on the line to defend…well, what we used to fight wars to defend…you put the best weapons possible in their hands…period.

And you make sure the people making the decisions aren’t political hacks…as my uncle used to say; “that decision needs to be made by someone who did their 30 trips”

#84 Smoking Man on 11.05.16 at 12:11 am

no words enjoy.

https://www.youtube.com/watch?v=hRXb7K7k7bQ

#85 InvestorsFriend on 11.05.16 at 12:39 am

GAAP Accounting has become meaningless in some cases

#1 TurnerNation on 11.04.16 at 6:48 pm

Whoa…Keg Restaraunts (KEG.UN) lost 9.22m last quarter and is negative on the year in net profit.

****************************************
KEG.un just collects a royalty fee and in substance cannot lose money and did not.

The GAAP loss says much about the state of GAAP accounting and reveals nothing about the true substance of KEG.un’s profit. Nothing.

The so-called loss was caused, and I am not making this up, by the unit price going higher which caused the so-called liability for certain exchangeable units to increase. A bit counter intuitive. Nonsensical.

I don’t know if keg.un is a good investment at this price. But I do know it did not actually lose any money in Q3 or year to date. Not in substance.

Most of the time GAAP accounting provides a reasonable measure of true economic profit. Not this time.

#86 WalMark of sadkatoon on 11.05.16 at 12:40 am

US economy kicking Canadian butt and BOOOMING!

http://www.bloomberg.com/news/articles/2016-11-04/tight-u-s-job-market-finally-delivers-as-pay-gains-accelerate

#87 bsallergy on 11.05.16 at 12:59 am

Ah the plot thickens, now the choice is between tweedledeedum and tweedeldeedumber.

#88 American in Canada on 11.05.16 at 1:13 am

@smokingman if what you write on here is any indication, your wife is probably right about the book.

I really hope trump loses Tuesday. I’m sick of entitled racist fools.

#89 willworkforpickles on 11.05.16 at 1:22 am

A lifetime of real estate debt doesn’t exist for anyone as the very survival of the economies of north america will not stand the test of time, and real estate and real estate debt becomes irrelevant.

#90 bigtowne on 11.05.16 at 1:36 am

Hello Fellow Canadians: Let me just greet you in an appropriate and gender neutral fashion so no one feels miffed or dissed in an alarming fashion like the faculty over at the U of Toronto……

No; NO; No I will not address any of you here with that major insult Ladies and Gentlemen..my word when there are so many more appropriate and polite way of saying Hello. Let’s stay nice and just say Hello there Comrade or Hey Pioneer. After all we are all part of this diverse culture of pronouns…no not pronouns people. Silly me.

#91 Herethere on 11.05.16 at 1:43 am

Re #25 The real Kip
And let’s no forget that 10 per cent of the 350 millions support the Republican ex-governor of New Mexico. Now Libertarian, Gary Johnson. Who provide us with a “Beam me up, Scotty,” moment with “What is Aleppo?” And unable to name, when asked, any foreign leader he admires.

#92 It's their election... on 11.05.16 at 1:43 am

It’s a US election.

Americans will do what they think is best for them.

We’ll all still be here on Nov. 9 looking for some new meat that Garth tosses us to chomp on.

I must admit I take pause when Garth, a righty, worries about Trump.

bsant

#93 Polls R Phake on 11.05.16 at 2:14 am

#178 Polls R Phake on 11.04.16 at 12:20 pm
4 more days until we DRAIN THE SWAMP. I think one of the great things to come from a Trump win will be his pledge to create term limits of career politicians. I think this policy will spill into Canada hopefully.

The average MP lasts four years, and it takes half that time just to learn to be effective. Why do we need term limits? — Garth

———————————————————–

With technology available today I respectfully do not agree with your argument. 8 years is plenty of time to represent people and perform your public service as a representative of the people. Elected people are surrounded with public servants with instant info to allow and elected person to make informed decisions about the issues. They are not waiting weeks and weeks for paperwork as it were.

#94 jane24 on 11.05.16 at 2:36 am

Hey 42 Rexx Rock

Foget Mexico and cheap burgers and fries. In the south of Italy off the tourist track you can get a handmade pizza and half a litre of house white for that same $10!!

Plus you can then walk home safe at night.

#95 Pets don't vote on 11.05.16 at 3:26 am

#75 Pulsars are Cool

Read subject.

bsant

#96 I hate to tell you this Smoking Man... on 11.05.16 at 3:32 am

#67 Smoking Man

That video theme song sounds suspiciously like a very “slow” version of The Internationale:

https://www.youtube.com/watch?v=t8EMx7Y16Vo

bsant

#97 81,000,000 Spaniards Smoking Man... on 11.05.16 at 3:38 am

81 MM Spaniards cannot be wrong about the Animals #72 Smoking Man.

And I quote:

En vista de que la versión original de este video, tiene baja calidad tanto en audio como en video, me tomé la molestia de mejorarlo con mejor sonido, mejor calidad de imágen, mejor zoom y mejor edición con la mejor de las intenciones, gracias.

Buenas noches Smoking Man, d’Italia.

bsant

#98 len on 11.05.16 at 3:48 am

Earlier poster asked a good question regarding who can be considered “elites”.

The emerging consensus seems to be that elites are those members in our society who are influential enough via connections and money to tilt legislation and governance for their own benefit and at the expense of the rest of us: it is called crony capitalism

Hillary Clinton is example of another type: essentially a legislator who leverages her position into a shakedown operations with the weight of state behind her. In other words, she sells the favors of state to bidders. She is both corrupt and corrupting – she is the instrument by which elites legislate in their favor.

People who go to work everyday and contribute something to others, large or small, and who are compensated – even amazing highly compensated – for their energy, talent, and work are not part of the problem.

It is obviously not a black and white issue but intuitively, it should be fairly obvious. Further, the issue is not that Hillary is a terrible corrupt person and so is Donald, thought they likely are, the issue is that we now have a system tailored to allow individuals to subvert public institutions for their private benefit. That has to change, hopefully via peaceful means such as the various velvet revolutions of Eastern Europe. If the elites won’t allow for change to happen (e.g. Bernie), they will make a revolution inevitable.

The above is a sentiment I had formed by reading widely from multiple sources and points of view. There are some amazingly intelligent people and proposals emerging from the United States but also lots of divisiveness and fear. The future will likely become a lot more difficult for all of us shortly.

#99 Someone died for my freedom on 11.05.16 at 6:51 am

I think Gary Fayerman is typical of the insipid entitled pukes and liberal fairies who forget why they’ve been allowed become so entitled. So when Dip-Wad Junior T and his hoard of lib tard sycophants start seal barking in unison for a shooting war in Mali…cry for those who lose their lives for such political folly and the broken and immoral ideology of those like Gary ‘The Big Puke ‘ Fayerman et al.

Canadian Vets, thanks for your service, may none of you die because of Trudeaus sick and twisted plan to sacrifice you for his ‘legacy’. Gary , you puke, for your mendacity I suggest you make a very public apology to the veterans on Remberance and thank them for your freedom to be as dumb a rat bas&ard as you are.

#100 maxx on 11.05.16 at 7:21 am

“Given the anti-government, anti-trade, anti-elites, anti-immigration, anti-corporate, anti-global, pro-patriotism and protectionist stance of the Trumpian masses, this is viewed in many bank towers as something akin to the plague.”

Many labels that boil down to one: fiscal abuse.
People have been fleeced by FIRE for the past 30 years, have seen their quality of life seriously erode and their future prospects dim to depressing lows.
All helped along by tptb.
I consider myself one of the very lucky ones, not by any stretch a doomer, and I don’t relish the daily serving of people scratching their way as best they can in a deteriorating economy that could so easily have been handled to everyone’s benefit.
Instead, banks grabbed the powerful advantage of software and lobbyists and squished the life out of the economy.
So no, I don’t blame people for wanting change. Badly.
For every action, there is an equal and opposite reaction. And when people are this pissed, the outcomes can be surprising. The status quo of “greed is good” and a$$holes using vets to pump re is not working.
People are often naive and can certainly be stupid, but now, cutting their noses off to spite their faces seems infinitely less painful than the same old crap-results leaders portending no future.

#101 alex on 11.05.16 at 7:30 am

TD may have to reverse it’s decision to raise rates as the other lenders are not following suit. Cheap interest is fueling the economy of Ontario and no one wants to do any policy that could slow down the real estate market. At the risk of tons of people with sky high debt, GTA prices are only going to go higher and higher with more folks coming and not enough places to put them. Expect more of the same. Garth and all the other analysts are right that it makes no sense for this to continue the way it has, but they are failing to see how much the economy depends on the bubble. Real estate in Toronto is only going to up faster and faster and there is nothing average folks can do about it.

#102 maxx on 11.05.16 at 7:49 am

#1 TurnerNation on 11.04.16 at 6:48 pm

…..”Guess I’m not the only only objecting paying $16 burger +$8 beer +14% tax +15% tip.
Over $30 for a freakin burger and beer in Kanada.

Starve the Beast folks :-) buy locally sourced meat from local butcher and cook/bbq at at home.”

Couldn’t agree more. I avoid most restaurants like the plague. Industrial quality, cheapest available, non-organic ingredients served up with sauces that pour out of plastic barrels and gallon jugs made with ingredients of frightening provenance. All fried up in very unfriendly fats.

I go out for coffee quite a lot but come home to the best food available. So yeah, feed yourself and starve the beast.

You’ll save a ton of cash and be around longer to enjoy it.

#103 BDon on 11.05.16 at 7:50 am

For 63 WUL

http://truepatriotlove.com/about-us/tpl-national-programs/

#104 isuckless on 11.05.16 at 8:07 am

Currently in Melbourne, down under, and reading how real estate market is bubbly, with mortgage rates %3.39 and above.
That is one whole % point above mortgages in Canada and even that rate is not slowing the market.
It seems that most of people figure out that everything else is a crappy investment and (maybe against better judgement) think that buying a thing that they can see, feel and live inside, is better than buying a couple of electrons.
Some kind of revolution is coming.
Allah won’t help us (it is not in business of helping anyone).
Only war with the aliens will :(

#105 Smoking Man on 11.05.16 at 8:09 am

How does one slay a savage hangover. Well you need a bit of luck, a strong coffee and 1/2 a un drunken bottle of JD you find in the back yard.

Um that’s good.

Then you try and figure out the meaning of life. The race to death, chasing a dream put in your head by others. Watching a sun rise with random tunes on the ear buds.

It don’t get better than this dogs. Enjoy every pathetic moment of your existence, cause on day you will be no more.

#106 Smoking Man on 11.05.16 at 8:19 am

#82 American in Canada on 11.05.16 at 1:13 am
@smokingman if what you write on here is any indication, your wife is probably right about the book.

I really hope trump loses Tuesday. I’m sick of entitled racist fools.
…..

He’s not a rasist, we are not rasist. He likes patting kittens

I see no crime in that..

Who cares what people think about my writing or my book. Smoking Men have a genetic defect. The I give no shit gene.

Happy morning to you

#107 Ret on 11.05.16 at 9:40 am

F.Y.I.
Ontario Teacher Pension increase announced as 1.3% for next year.

Why is this news? The OTPP uses the same calculation method and Canada wide based CPI numbers to calculate increases as the federal and provincial governments do for CPP, OAS, GAINS, provincial assistance plans etc.

#108 GFD on 11.05.16 at 9:51 am

Guys, latest video documentary on US election. Worth watching, brief summary in such a clear format. UNBELIEVABLE!

https://www.facebook.com/YourTango/videos/10153881102362261/

#109 Why trump could win on 11.05.16 at 10:00 am

Number one reason is so called free trade. I hate trump but if he is really againsy free trade then i am all for him winning. Free trade does nothing for the middle class. How has the middle class faired with free trade? http://www.commondreams.org/views/2016/03/13/free-trade-elites-are-selling-it-public-no-longer-buying

#110 Mike in Toronto on 11.05.16 at 10:19 am

#16 MSM-Free Zone

The most shocking part of the Marketplace segment was the agent who sold their clients home to a lower bid, likely because it had a dual-agent agreement on it and earned far more commission.

The maximum fine for this action was less than the likely windfall, and the minister who commented on the agencies enforcement seemed grossly indifferent.

The good news is that it means if you’re a buyer, get the dual-agent agreement and be sure not to get a BRA. The agent will use their knowledge of the bids to ensure their higher commissions on the lower sale price.

If you’re a seller, make sure your agent doesn’t ever do dual-agent.

We should just put houses on ebay or something. Their cut would be less and the auctions more honest.

#111 Herb on 11.05.16 at 10:22 am

#93 –

I hope I did not spend my 36 years in the defence of Canada so assos like you could degrade politics with juvenile drivel.

Grow a brain, not just a political affiliation!

#112 rknusa on 11.05.16 at 10:27 am

#48 Smoking Man on 11.04.16 at 9:04 pm

you really do reveal how ignorant and stupid you are in your assessment of a university education

university teaches you how to think not what to think

obviously your white trash ass never attended a school of higher learning

leave us be with your up your ass philosophy on how the world works

please

#113 LowRent of Arabia on 11.05.16 at 11:00 am

@# 5 re the Vancouver Thurlow condo.

I lived in Van for a number of years. That view is maybe available 5 days a year. The rest of the time you will feel like you are looking through a waterfall – completely blurry due to rain.

The same effect can be had after a bottle of single malt or a case of beer. A lot cheaper that way.

Right SM?

#114 Dude on 11.05.16 at 11:07 am

#100 Smoking Man

Happy morning to you too Smoking Man.

#115 DON on 11.05.16 at 11:08 am

#28 vreu dreamer on 11.04.16 at 8:02 pm

I GOT TWO WORDS FOR YOU SWEETHEART……
‘MIGRATION AND IMMIGRATION’….end of story

*********************
Geezus…

Did migration and immigration just start or something. Hasn’t this has been happening for decades. The excess market is what will revert regardless of immigration or migration which has always been happening.

#116 Bytor the Snow Dog on 11.05.16 at 11:17 am

@#1 TurnerNation- Seems like there’s much at steak…errr stake.

I was trying to remember why I was not happy last night so I read Garth’s post again.

I’m sick and tired of this “a job is a job is a job” mantra. Frankly it a crock of bovine excrement and anyone with half a brain knows that.

Speaking of jobs, the tipping point is gonna be around 2030 or so when self driving cars and AI make many jobs obsolete. We’ll have to change the structure of our society to deal with structural 40% unemployment.

#117 the other white meat (pork) on 11.05.16 at 11:20 am

#15 Randy on 11.04.16 at 7:19 pm
A miracle happened. I went to University, I graduated and I’m still not a Liberal

Are you employed?

#118 the other white meat (pork) on 11.05.16 at 11:24 am

#106 rknusa on 11.05.16 at 10:27 am
#48 Smoking Man on 11.04.16 at 9:04 pm

you really do reveal how ignorant and stupid you are in your assessment of a university education

university teaches you how to think not what to think

obviously your white trash ass never attended a school of higher learning

leave us be with your up your ass philosophy on how the world works

You’re a wonderful advertisement for Canadian post secondary institutions. Keep up the good work.

#119 crowdedelevatorfartz on 11.05.16 at 11:29 am

@#103 Why Trump could win.
“I hate trump but if he is really againsy free trade then i am all for him winning….”
*******************************************

Trump, like all politicans, is in it for himself.

Unfortunately his supporters, “The Denial-ables” wont realize that until its far far too late.

#120 Ponnaps on 11.05.16 at 11:31 am

In a country full of immigrants and tonnes of visa holders how do pollsters go about finding the actual eligible voters to respond to their opinion polls?
Opinion polling is inherently flawed forget about the results..

#121 Context on 11.05.16 at 11:38 am

#96 maxx: – I too avoid the overpriced restaurants but will go for a steak dinner if someone else is picking up the bill. Next time try an [email protected] restaurant for a great burger, as for years they have made nice profits for me, as own some royalty units. In fact, we are bringing out at my request, a new chicken burger which we are calling the Sir Lew.

#122 dogman01 on 11.05.16 at 11:38 am

Off Topic but interesting article.

How the email of Podesta was hacked; simple but elegant…..

https://www.hotforsecurity.com/blog/this-is-the-email-that-hacked-hillary-clintons-campaign-chief-17039.html

#123 DON on 11.05.16 at 11:40 am

#106 rknusa on 11.05.16 at 10:27 am

#48 Smoking Man on 11.04.16 at 9:04 pm

you really do reveal how ignorant and stupid you are in your assessment of a university education

university teaches you how to think not what to think

obviously your white trash ass never attended a school of higher learning

leave us be with your up your ass philosophy on how the world works

please
******************

If you need university to teach you how to think – there’s the first problem. Apparently not a lot of people can think after they get out of university – hence all the highly educated people buying houses in a bubblicist market as long as the monthly payments are doable in the short term.

#124 Wack on 11.05.16 at 11:59 am

Some advice to the young when times get tough…
“eat at home!, 3/4 less than going out and better food.”
Have friends over for $2 beers, instead of $8 beers out!
Share Netflix with 4 friends, “3$/month”
Make popcorn and rent iTunes movies for “$5 and on your own comfy couch”
Buy a decent car “$7k cash, no pmts”
Mostly buy used clothes for your small kids…”they only wear them for weeks!” Lots of bidding sites out there
It’s not rocket science, just a little discipline…if you lack that cut up your cards!

#125 Oot of the Hoos on 11.05.16 at 12:04 pm

Baghdad Garth:
I think leave the comments open for Liberal-doomers only, for one extra day, if Trump wins, because without guns, gold, God, and a get-away-plan, they only have keyboard quip therapy.

Do you know any top Canadian liberals doing “spirit cooking”? I guess some irreligious secularists are doing it.

#126 Ponnaps on 11.05.16 at 12:07 pm

Hillary and Trump are both full of bad ideas.. If Hillary wins her bad ideas get implemented. If trump does, his’ wont..

#127 Russ on 11.05.16 at 12:10 pm

Paul on 11.04.16 at 10:37 pm

We have T2 here! Canadians deserve better.
================================

It looks like we’ve reach peak T2.
A MSM hack on CBC decides to capitalize.

S.M. is gonna love the teacher comment.

https://www.youtube.com/watch?v=NxlU_6Bf254

and one year ago:
https://www.youtube.com/watch?v=ODQhRjpuaMY

#128 Context on 11.05.16 at 12:30 pm

I am going to enlighten you what this election is all about to eliminate the confusion. There are two groups fighting for political control of the USA. The first group is the world political elite, but there is infighting taking place with the younger billionaires against the old guard for control. The other group wants reform under Trump who is backed by the Generals, Admirals, The Intelligence Community, all forms of Law Enforcement, The Military, and a lot of the citizens including certain Politicians.

I have no idea who will win this election which is filled with corruption, but if Hillary wins there is going to be trouble. Do not be surprise in the least if a coup takes place as it might be in the planning stages. We are witnessing an event like none other in recent history, and the final outcome might turn nasty.

#129 Damifino on 11.05.16 at 12:30 pm

#95 alex

Garth and all the other analysts are right that it makes no sense for this to continue the way it has, but they are failing to see how much the economy depends on the bubble.
————————————

So only those bubbles we are not dependent upon are likely to burst?

#130 Stanley on 11.05.16 at 12:41 pm

Oh, you didn’t know the real situation!? Stop believing mainstream media. Hillary says nothing to see. We’ll see. Maybe the emails will have information on Bill and Hillary on the Lolita express to Bahamas will be in there.

#131 Capt. Serious on 11.05.16 at 12:43 pm

@ #114 Ponnaps
“I don’t understand how polls work, so I’m just going to say they’re flawed.”

Do you approach life like this?

#132 Angelo on 11.05.16 at 12:46 pm

Here is a great opportunity for those looking to downsize!
Great rent to own ratio.

http://www.kijiji.ca/v-room-rental-roommate/oakville-halton-region/200-mth-for-1-balcony-in-condo-oakville/1206970512

#133 Mark on 11.05.16 at 1:57 pm

“TD may have to reverse it’s decision to raise rates as the other lenders are not following suit”

If TD’s decision is not supported by the marketplace, then TD just ends up with a pile of cash in its hands from having mortgages that really aren’t all that risky being paid off prematurely (plus whatever ‘break or termination’ fees they garner — recall that TD switched most of its new originations years ago to ‘collateral mortgages’ which have higher discharge costs!).

Raising cash and diversifying their lending portfolios, in this environment, may very well not be that bad of a thing to do for the banks. And if there’s business that TD wants to retain mortgage-wise, they are always free to offer amendments to their contracts, free of charge, to the borrowers they specifically wish to retain.

“Elected people are surrounded with public servants with instant info to allow and elected person to make informed decisions about the issues. “

Its the “public servants” that should be subjected to term limits, IMHO. Not the politicians. The whole idea of someone being a ‘career public servant’ is rather offensive to democracy. Public servants should be limited to 10 years of total lifetime service, after which, the only option for the government to re-employ a public servant be through an order-in-council appointment. Too many public servants spend their entire careers in the public service, and worse, they tend to manipulate elected politicians.

#134 Metaxa on 11.05.16 at 2:04 pm

@ WUL

I just want to thank you for your continued presence..the thoughts you add to this cesspool are always welcomed by me.

#135 Context on 11.05.16 at 2:05 pm

#119 Oot:- I know all about the cooking gig as its an intelligence secret not carried by MSM. Blame it on the Conservative Party as they were cooking up a storm in B.C. several years ago.

#136 conan on 11.05.16 at 2:14 pm

Re: #104 Mike in Toronto on 11.05.16 at 10:19 am

“We should just put houses on ebay or something. Their cut would be less and the auctions more honest.”

Well, when the market goes Mad Max, these same realtors will be worth their weight in gold.

If buddy can sell my chip board shit box in a neighborhood of similar chip board shit boxes then I have no problem paying the dollarydoos.

https://www.youtube.com/watch?v=-w3iPFl-cfI

#137 Roial1 on 11.05.16 at 2:41 pm

#75 Pulsars are Cool on 11.04.16 at 11:40 pm

Even pets hate Trump

https://www.youtube.com/watch?v=Ale1Ye9K0kQ
—————————————————————–

Garth, I don’t know about you but I trust the intuition of my dog about people.

She knows a BAD one when she sees them.

#138 Herb on 11.05.16 at 4:41 pm

WUL, I second #128 Metaxa.

#139 LifeXpert on 11.05.16 at 5:54 pm

“university teaches you how to think not what to think”

funniest thing I’ve heard in years

University teaches you how to follow orders, trust me I’ve been there

#140 TCContrarian on 11.05.16 at 6:13 pm

In my humble opinion, the elections are for the people to appease (delude) themselves that they have some form of control.
I think the real controllers are in the ‘deep-state’ who prefer to stay well hidden from view.

As far as the general markets go, I think we’ll see a nice (albeit short-lived) rebound after a Clinton victory, and the opposite if Trump gets the nod (a brief dip, then a subdued rebound – a lower high).

In either case, I think precious metals will continue to rock with $1,500 gold next in my sights. My goal here is to turn Mr. Turner into a gold-licker (pun intended!)

TCC

#141 45north on 11.05.16 at 10:50 pm

this is the calm before the storm.

This Week in Money: Ross Kay talks tough. He says the BC Government picked the very worst time to impose a tax on real estate sales to foreigners. The Federal Government picked the very worst time to raise qualifications for buying real estate in general. Real estate prices will go down and there will be a catastrophic loss: $190 billion in BC, $1 trillion in Canada.

This is the calm before the storm because people don’t see a loss. The don’t see how big it will be and they don’t see that it will affect them. So they’re calm. Calm isn’t the exact word. Unaware is the word.

#142 Bottoms_Up on 11.06.16 at 3:37 pm

#133 LifeXpert on 11.05.16 at 5:54 pm
—————————–
Graduate school teaches you how to think.