Lessons

dummies-modified

Why’s Wednesday such a big deal?

For the first time in a year and the second in a decade, US rates will go up. Unless everybody’s been fooled, it’s the resumption of a trend that was stopped cold last winter when Chinese markets blew up, oil and other commodities collapsed and the economy ground to a halt.

Since then, mucho change. The US is doing fine, oil’s almost doubled and we’re now worried about inflation instead of deflation. Last winter bond yields were sinking and the steerage section was convinced banks would start paying people to take negative-rate mortgages. This winter it’s evident we’ve bounced off the bottom, with home loans already on the way up. A year ago we had two bubbly real estate markets left. Now there’s but one. And the last time there was snow, there was no Trump.

Last January the Toronto stock market was over three thousand points, or 29%, lower than it is now. The S&P bottomed a week or two later, now 23% higher. Last winter Canada was in recession – contracting. Lately growth has been 3.5% – swelling. Ditto for the US, where job creation has averaged about 200,000 a month and the economy has reached technical full employment. When Obama took office the jobless toll was above 10%. Eight years later it’s in the 4% range.

Moan all you want, but this is an improvement of epic proportions. The TSX, for example, gained more than every real estate market in the country, without any property taxes, commissions, land transfer tax or cable TV bill to pay. And it looks like there’s more to come just as it appears real estate in most places is headed in the other direction.

So what’s next? Tom wonders.

“Love your blog. Well written. Great topics,” he says, sating my need for syrupy subservience. “I have a suggestion (if your email filter doesn’t automatically put the words “I + suggestion + blog” straight into your spam folder).

“Higher interest rates are coming.  It would be nice to see a post about this.  First part “best case scenario”. Second, “likely scenario”. Third, “worst case scenario” for 2017-18.  As far as I know, we follow the USA 90% of the time in interest rate hikes so it’s kind of out of our hands but the consequences are all ours.”

Sure. While we actually have no idea what’ll happen over the next twelve months, here’s a prediction. The Fed will move on Wednesday by a quarter point. The odds of that are still 100%. Then the US central bank hikes twice more in 2017, for a half-point gain. So by the end of next year the key rate will have gone from an effective 0.25% to 1%. That’s big.

Yes, Canada has a track record of aping US moves more than 90% of the time over the last quarter century. This time will be no different, but there’ll be a lag of several months. In other words, don’t expect more than one increase from the Beaver Bank in 2017, but then a couple the year after – assuming Trump doesn’t nuke North Korea or appoint Beyoncé to anything. As US rates increase, strengthening the US currency, ours will fade. So expect lots of inflation – $7 cauliflowers and $30,000 Harleys.

Mortgage rates will jump regardless of when our central bank moves. Fixed-term rates are set by the bond market, and while yields on Canadian debt will lag those on US bonds, they will be rising from current levels. So the best-case scenario is status quo for the Canadian prime until maybe the autumn, with modest plumping of fixed-rate mortgages, then up. The likely case is that all consumer loan rates – including personal and secured lines of credit – will be up to 1% more expensive by this time next year. The worst-case is that Trump turns out to be the Inflation President and the Fed embarks on a consistent, multi-year tightening of the kind seen several times in the past. That means six to ten increases over two to four years.

If you doubt any of this, look at gold. The certainty of higher rates, more economic expansion, government spending, surging bond yields and seductive equity markets has sucked the life out of the yellow rock. Bullion has been clobbered for 15% of its value since Brexit alone (the end of June). It now trades for $800 less an ounce than it did five years ago – when lots of silly people thought the US was going to run out of money and default.

So, Tom, there ya go. It looks like we’ve turned a page.

Yes, things can go off the rails. Yup, a very strange man now leads the western world. You bet, it’s scary.

But the era of real assets is kaput for a while.

132 comments ↓

#1 Ambreen on 12.09.16 at 6:18 pm

Did I get first comment!?

#2 For those about to flop... on 12.09.16 at 6:23 pm

I am expecting a press release to contain the following wording or something similar early in the new year by the B.C real estate association.

” Due to the unforeseen amount of snowfall that fell during December in Vancouver,sales in the region were well below expectations.”

Must be the snow mix…

M42BC

#3 zee on 12.09.16 at 6:28 pm

Hey Garth

Nice to see the stock market finally beating real estate.
lets hope the trend continues into 2017
any prediction on where the Canadian and American stock market will be next year

#4 For those about to flop... on 12.09.16 at 6:33 pm

Why’s Wednesday such a big deal?

For the first time in a year and the second in a decade, US rates will go up. Unless everybody’s been fooled, it’s the resumption of a trend that was stopped cold last winter when Chinese markets blew up, oil and other commodities collapsed and the economy ground to a halt.
Garth.

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

I’ll tell you why next Wednesday is so important.

It’s my 14th wedding anniversary,and just like the Fed I’ll be expected to perform miracles.

I’ll do my best ,but if I fail to perform at least I can tell the wife that rates went up…

M42BC

#5 Patrick McMullen on 12.09.16 at 6:33 pm

The FED won’t raise rates anytime soon, unless they want the monetary system to go bust.

#6 LeoTrollstoy on 12.09.16 at 6:33 pm

As US rates increase, strengthening the US currency, ours will fade.

I dunno about this. I called the turn in the currencies when the CAD was at parity with the USD and I’m calling the recovery of the CAD now.

#7 LeoTrollstoy on 12.09.16 at 6:36 pm

It now trades for $800 less an ounce than it did five years ago – when lots of silly people thought the US was going to run out of money and default.

People who like gold, like losing money.

#8 TurnerNation on 12.09.16 at 6:36 pm

I’ve decamped. No rate hike. Et tu, Smoking man?

#9 Context on 12.09.16 at 6:36 pm

I took one look at those books and had a flashback which was known as Coles Notes. There was a small group at University taking a complex course in English Literature which required a graduate student giving us tutorials once a week sitting on the floor in a small room. He said if you want to get an A, go and get a copy of Coles Notes, as wrote the book paying me so much a page when I obtained my Masters Degree.

#10 strange times indeed on 12.09.16 at 6:39 pm

Not nearly as strange as our prime minister.
Trump that is….

#11 Happy Housing Crash Everyone! on 12.09.16 at 6:41 pm

No denying the housing crash in Canada. SALES have now STALLED in the GTA. Happy Housing Crash Everyone! :-)

#12 Brian Ripley on 12.09.16 at 6:47 pm

“Last winter Canada was in recession – contracting. Lately growth has been 3.5% – swelling.” Garth.

I just updated my Household Debt Chart that also includes plots for GDP, Foreign Direct Investment and Balance of Trade
http://www.chpc.biz/household-debt.html

Sept GDP (annualized) is up 1.85 Y/Y (on my collected data). Stats Can revises their data every month every quarter. Oct Net Trade is still negative after a spike up off the recent low. It’s been negative for 8 out of the last 10 quarters. The CAD/USD is helping somewhat.

Maybe net trade can swing into positive gear in 2017 but it still looks like an uphill grind from here especially with the FDI (foreign direct investment) plot in a very negative position. Canadian investors prefer offshore opportunities; cheap labour, better productivity etal.

With Trump in the house surrounding himself with big oil and big money, I suspect capital flow will be going south not north next year.

#13 The Great Gazoo on 12.09.16 at 6:49 pm

Canada 5 year bond yield closed today at 1.08%. It was as high as 1.14% today. If yields hold above 1% and continue to move higher, fixed rate mortgages going up.

http://www.marketwatch.com/investing/bond/tmbmkca-05y?countrycode=bx

Garth, any comment on when the Fed might start unwinding QE? I assume this process, when it eventually starts, will work in reverse and drive longer term rates higher than they otherwise would be.

#14 Reasonfirst on 12.09.16 at 6:58 pm

Victoria is still bubbly…

#15 Polls R Phake on 12.09.16 at 7:11 pm

As usual 100 million unemployed Americans don’t count because America is doing fine.

#16 Geoff on 12.09.16 at 7:19 pm

Anti-corruption group calls for more disclosure on owners of Canadian companies, trusts

http://www.cbc.ca/news/business/transparency-home-ownership-1.3889013

#17 Jungle on 12.09.16 at 7:20 pm

Question is now where do you put new money? Stock market is not cheap, housing no thanks.

#18 Joe on 12.09.16 at 7:22 pm

29 Percent of richest homes in Vancouver owned by Shell companies:

http://www.cbc.ca/news/business/transparency-home-ownership-1.3889013

#19 Robert May on 12.09.16 at 7:25 pm

I started in the Canadian real estate industry in 1993. In the 23 years I have been involved I have watched Canadian mortgage rates fall from around 12% down to the current 2.5% There have been many times that I have thought they couldnt go any lower, and lots of times that I thought they need to start going up. Each time, I have been wrong, for 23 years…..So I have finally learned not to try to predict the rate or time the bottom.

#20 Smoking Man on 12.09.16 at 7:28 pm

You don’t want to oun Toronto Realestate in the fall of 2018…I’ve revised my calling the peak to April 2018. Free fall after that.

#21 AJ on 12.09.16 at 7:29 pm

Appoint Beyoncé for EVERYTHING… Only Queen Bee can save us from the orange octopus

#22 CONFUCIUS SAY on 12.09.16 at 7:30 pm

CONFUCIUS SAY, “HE WHO WILL NOT ECONOMIZE WILL HAVE TO AGONIZE!!!”

#23 Mike on 12.09.16 at 7:33 pm

Canadian Real Estate will never crash.

Lil bit down here and there. Even Edmonton/Calgary are doing fine. Sales down, but prices almost same in Single family.

Canadians are rich with high incomes.

#24 Skip Breakfast on 12.09.16 at 7:36 pm

Funny I’d put a lot more money on Trudeau appointing Beyonce to something.

#25 Smoking Man on 12.09.16 at 7:36 pm

@Dark Hole and Gravity Waves.

http://www.teslaphysics.com

Einstein’s thorey of relativity. Explains Ether Drag. Less curved space. That’s just stupid Einstein probably experimenting with drugs when he came up with that.

Ether is real, it’s what powers my plasma flyer.

#26 Shawn on 12.09.16 at 7:40 pm

July 2016 will go down in history as a generational low for bond yields. Negative bond yields – if that’s not a sign of a bond bubble, I don’t know what is.

#27 common sense on 12.09.16 at 7:41 pm

#3 Flopest

Congrats on #14 with the Mrs…

Just keep the image of Janet’s beauty out of your head for 14 seconds and you’ll be fine.

#28 ANON on 12.09.16 at 7:53 pm

There is no money. Next is the realization of this. However, people will insist the money was there. :)

#29 Fish on 12.09.16 at 7:54 pm

#2, that is good, made me laugh,

Thank you Garth, good one

#30 Smoking Man on 12.09.16 at 7:57 pm

Shit another addiction Twitter. Moving to Gab soon. Want to make the honored list of the band. Shit I say, just don’t have enough following yet for Jack to fear me.

#31 Carbon tax on 12.09.16 at 7:58 pm

Only 2 provinces have brain and spine.

#32 West Coast Woman on 12.09.16 at 8:03 pm

Well, someone in Vancouver is still buying, and I don’t think it’s the locals at this price. This crappy shack just had a sold sticker slapped on the sign:

https://www.realtor.ca/Residential/Single-Family/17436071/2275-MCMULLEN-AVENUE-Vancouver-British-Columbia-V6L2E2

#33 Happy Housing Crash Everyone! on 12.09.16 at 8:04 pm

http://wolfstreet.com/2016/12/02/vancouver-house-price-bubble-collapses-sales-crash-for-sale-signs/

#34 palebird on 12.09.16 at 8:05 pm

I thinks 3 for $10.00 is a screaming deal

#35 Deplorable Dude on 12.09.16 at 8:09 pm

Beyoncé : US Ambassador for Somalia please.

#36 Mark on 12.09.16 at 8:12 pm

“Question is now where do you put new money? Stock market is not cheap, housing no thanks.”

As I wrote the other day, an examination of the charts of the European indices (ie: VGK ETF) and the emerging markets (ie: VWO ETF) reveal they’re trading at levels of 10 years ago.

If you were using an asset allocation model, these are the sorts of assets which would have fallen beneath their target allocations in a balanced portfolio. In a rebalancing process, hence, there would be a movement towards these assets back to target allocations, and away from the ones which have done particularly well over the past few years and are now overweighted relative to target allocations (ie: the US equities in particular).

#37 Tony on 12.09.16 at 8:18 pm

Re: #14 Reasonfirst on 12.09.16 at 6:58 pm

Thank you Mr. Realtor next year home prices in Victoria will be in free-fall mode.

#38 Mark on 12.09.16 at 8:21 pm

“29 Percent of richest homes in Vancouver owned by Shell companies”

A lot of doctor/lawyer/entrepreneur/miner/speculator types, who made a lot of money, have incorporated businesses and lots of money in them with which to invest in high-end Vancouver RE.

The big question is whether or not these shell companies are providing, to the people who actually live in the homes, a taxable benefit. Or are receiving rent. That might be an angle that the CRA could audit (and reassess appropriately), especially if a shell company owns a housing and allows a related party or shareholder to use the property without charging rent or imputing a taxable benefit at fair market value.

#39 Douglas Stanfield on 12.09.16 at 8:22 pm

The U.S. and Canada will be in recession late 2017 early 2018. North American stock markets, Europe and Asia as well will be 17% to 27% lower in the next 12 to 16 months.

Dow Jones will be 16,000 to 17,000 in coming months and TSX will be 11,200 to 13,000 too by then.

If you think 2008 is not coming back or even a smaller version of it then time will tell. It’s a trap people.

#40 Please help me on 12.09.16 at 8:25 pm

Hi people, I was told to buy gold corp and empire today, what do you think of those 2 stocks Garth? Garth how many stocks do you own? Let’s talk about stocks, I want dividends. Like getting a rent cheque, yes rates are going up people Garth is right about that amen people. What’s going on with teck? Baytex? Please help me people
Thank you and god bless

#41 Fish on 12.09.16 at 8:28 pm

Garth, I am so grateful I came across your blog, I have read for some time, the in put is grand, I m learning alot, All I know I debt fee, and holding my card s, waiting, THAT IS GRAND for a puma, it works for me, thankyou

#42 crowdedelevatorfartz on 12.09.16 at 8:30 pm

@#1 Ambreen
“Did I get first comment!?”
********************************************
No.
Comments require intelligence.

#43 acdel on 12.09.16 at 8:36 pm

U.S. twenty trillion in debt minus there social debt which is estimated 5X higher; in Canada we have T2 with the delighted carbon tax amongst who knows what else with this immature fellow; if it wasn’t so pathetic I would shed a tear in my angst, instead by my amusement to all this foolishness I will shed a tear to the future bright generation; I am not a pessimist (I think) perhaps maybe I am a realist; what ever your beliefs are,I’ll say “All the best to you”!

#44 mike leblond on 12.09.16 at 8:40 pm

http://vancouversun.com/news/local-news/mps-law-firm-sued-in-case-involving-allegations-of-chinese-underground-banks-and-missing-millions

“Regarding Jiang’s statement that Chinese citizens commonly use underground banking to get money offshore and invest in Canadian real estate, Smart said: “Our government has been clear and consistent about ensuring investments, particularly in real estate, made in British Columbia are not made with illegal monies.”

#45 crowdedelevatorfartz on 12.09.16 at 8:46 pm

@#4 Floppy
“I’ll do my best ,but if I fail to perform at least I can tell the wife that rates went up…”
******************************************

……all the best and if that doesnt work……invest in Viagra

#46 LeoTrollstoy on 12.09.16 at 8:48 pm

No denying the housing crash in Canada. SALES have now STALLED in the GTA.

Lol sure

#47 Context on 12.09.16 at 8:49 pm

#17 Joe:- The taxman is asleep at the switch as they should be auditing the rental properties in Collingwood and Muskoka Lakes.

#48 Smoking Man on 12.09.16 at 8:57 pm

DELETED

#49 Nemesis on 12.09.16 at 9:03 pm

“Moan all you want, but this is an improvement of epic proportions.” – 53rdFloorGT

“Yup, a very strange man now leads the western world. You bet, it’s scary.” – PoliticallyAstuteGT

#Lessons:TheSocraticMethod,Or… #HowDoesEpicImprovementEmpowerDemagogues?

https://youtu.be/ZBAijg5Betw

#BonusLostInSpace,Or… #MattLeBlancPlaysWithHisJoyStick…

https://youtu.be/tsmacmhdrUs

#50 Smoking Man on 12.09.16 at 9:13 pm

Garth, never knew you dident like bananas

Its just a song

https://youtu.be/6Tou8-Cz8is

#51 RIL on 12.09.16 at 9:15 pm

My Reason For Living met with her [email protected] today to finesse her financial matters to keep the icy, bony fingers of the taxman off her loot. The bankstress shared some sorry stories of po’ AB folks in tough out here. Living off the LOC. Why not? If the fiscal car wash of going banko is staring you in the face, why not a blaze of glory? Including her husband out of work for two years and now on the grounds crew at a golf course during the summer. He loves it and enjoys free golf.

Speaking if icy, I enjoyed my first -44 C day here in The Mac (actually only – 37 but wind chill took it to -44). I’m moving to Dawson City to experience real winter.

Winter here is OK for men and dogs but hard as hell on women and horses.

#52 Smoking Man on 12.09.16 at 9:17 pm

We need a song, the lion is awake at night vs the lion slept the night.

Lefty programming teacher I hate every one of you. Report me to the principle. I’ve taken on a shit load of those losers.

https://youtu.be/mwy5uqemp6c

#53 Smoking Man on 12.09.16 at 9:28 pm

Context on 12.09.16 at 8:49 pm
#17 Joe:- The taxman is asleep at the switch as they should be auditing the rental properties in Collingwood and Muskoka Lakes.
….

Not true, the bastard has been on my ass, yearly audit since I became a popular blog dig.

It’s stupid. They won’t find shit. Mabey a bit of pocket change at a night a Seneca. But the trophy resides in a country with no extradition treaty with Sad Canada..

I see shit long before it happens.

UCC alien technology.

#54 Smoking Man on 12.09.16 at 9:40 pm

I’ve posted full frontal nudity on Twitter.

Why?, I’m a writer more that a bitch slapped code smith sucking up to the code of conduct in the employee manual. And linked in.. Pathetic

@SmokingMan on Twitter

#55 Ronaldo on 12.09.16 at 9:44 pm

Gold itself may not have performed so well to date having only risen about 2.2% in cad but for those who jumped into the producers when the market bottomed on January 20th. would still be smiling from ear to ear even with the huge pullback in prices to date. For example XGD is up 51.8% and ZJG is up 82.3% ytd. Not too shabby. Many individual producers are up 4 and 5 fold. Most individuals would have missed this opportunity as usual. Mark had predicted this run back a year ago. The next big moves are going to be in base metals, oil and gas and uranium. Those who have positioned themselves in these sectors will do very well in 2017. Next week is tax loss selling so lots of good deals to be had. Especially if the Fed raises the rate. I have some doubts about that but we will see soon enough.

#56 Context on 12.09.16 at 9:45 pm

T2 fell for the trap as he succeeded in placing the economic framework in place for climate change. Two provinces are yet in the fold as trading carbon tax begins. I guess he missed the memo from Australia as they repealed this mess. Canada has now formulated an ideology against Trump’s ideology for climate change and the scientists know that all climate is controlled by the Sun which is changing yearly.

#57 Fish on 12.09.16 at 9:47 pm

Maybe, SELL the Harley 95 FAT BOY custom, or sell , no miles, Thanks

#58 Smoking Man on 12.09.16 at 10:02 pm

The day you give no shit.
It’s my day, perhaps you too will find a day

This one is mine

https://youtu.be/_FydwthgLeM

#59 For those about to flop... on 12.09.16 at 10:12 pm

#19 AJ on 12.09.16 at 7:29 pm
Appoint Beyoncé for EVERYTHING… Only Queen Bee can save us from the orange octopus.
////////////////////////////////////////

Hey AJ ,I’m glad you like the name the Orange Octopus that I gave Trump, however I’m pretty sure that Bee is a Democrat that will not swap sides.

————————————————–

#27 Fish on 12.09.16 at 7:54 pm
#2, that is good, made me laugh,

Fish ,I’m glad you had a chuckle.
The real estate board will already crafting a plan to seduce the people that aren’t paying attention.

—————————————————–

Crowdie and Common, thanks for the messages and I’m glad you got the joke.
The Fed had a meeting on the exact same day last year as well.I didn’t do a Yellen joke because I did that last year.
Putting rates up such a small amount shouldn’t be a big deal but that’s where we’re at.

As for my performance,my wife now has lower expectations since you guys nicknamed me Flopper…

M42BC

#60 Smoking Man on 12.09.16 at 10:19 pm

Humanda they want to be loved.
If you don’t.. Hell to pay.

#61 Self Directed on 12.09.16 at 10:30 pm

Attention all Debt slaves! It’s true, the bond market moves rates, not the BOC.

First National raised it’s fixed rates on Tuesday!

The 5-Year Fixed is up to 2.84%…. we are returning to above 3%….

https://www.firstnational.ca/residential/mortgage-resources/mortgage-rates

Anyone with a renewal next year with FN will be paying more.

#62 Polls R Phake on 12.09.16 at 10:33 pm

Just like how the phake news MSM just wont give it up on Trump – 50% of the planet earth is in a deep freeze right now and the global warming bs continues. 100% of Canada is below zero.

President Trump inauguration can not come fast enough.

#63 Smoking Man on 12.09.16 at 10:36 pm

Don’t go here

https://youtu.be/_FydwthgLeM

#64 Smoking Man on 12.09.16 at 10:38 pm

Canada

https://youtu.be/LUpBSvN1a50

#65 Fish on 12.09.16 at 10:42 pm

are those, bit coin, going to work, thank you

#66 Self Directed on 12.09.16 at 10:45 pm

#38 Please help me on 12.09.16 at 8:25 pm

Hi people, I was told to buy gold corp and empire today, what do you think of those 2 stocks Garth? Garth how many stocks do you own? Let’s talk about stocks, I want dividends. Like getting a rent cheque, yes rates are going up people Garth is right about that amen people. What’s going on with teck? Baytex? Please help me people
Thank you and god bless
———————————
I’d wait on Gold Corp until some time early January… around POTUS inauguration? I dunno. If the institutional investors would call me just before loading up on Gold Corp, I would bet all my stacks of High Society.

Unfortunately, that crystal ball does not exist.

#67 Shawn on 12.09.16 at 10:48 pm

Mark,

I don’t disagree that EU ETFs are cheap. But they’re cheap for a reason. They can remain cheap for some time – a value trap.

Despite US equities posting new ATHs, there remains >$1T in cash on the sidelines. Money will work it’s way back into all equity markets over the next decade. Higher prices will pull more & more $ into the market. We’ve got a long way to go…

#68 Gravitational Lens on 12.09.16 at 10:53 pm

#23 Smoking Man on 12.09.16 at 7:36 pm

@Dark Hole and Gravity Waves.

http://www.teslaphysics.com

Einstein’s thorey of relativity. Explains Ether Drag. Less curved space. That’s just stupid Einstein probably experimenting with drugs when he came up with that.

Ether is real, it’s what powers my plasma flyer.

Fun stuff … curved space was directly observed in 1919 during a solar eclipse

The dude is a huckster selling fake cancer remedies.. and an evolution denying Mormon into sweet bebe jeezus fairly tales

You into bebe jeezus too?

#69 Lithium the New Oil on 12.09.16 at 10:58 pm

We now two things for sure. Trump is the president elect and he wants to kick start the US economy; therefore, less taxes, less regulation and more sector stimulus. So what part of the US economy has really gassed during the last 2-4 years. That’s right US oil. The fastest way to quick GDP growth is to stimulate US oil services. Get those riggers back to work. This will increase inflation increasing US interest rates. Will this impact Canada’s dollar? If Canadian oil services increases as well, the Canadian interest rates may not increase as the impact on the Canadian dollar may be negated by oil price inflation. Buy US oil and oil services stock and etf’s. Truck nuts are on the way back

#70 Self Directed on 12.09.16 at 10:59 pm

#16 Jungle on 12.09.16 at 7:20 pm

Question is now where do you put new money? Stock market is not cheap, housing no thanks.
———————————————
The Fruit People will guarantee you a 2.4% (annualized) return for 6 months.

Garth HATES it when I suggest it, but it answers your question.

If you need your money in 6 months, this is a 100% guaranteed investment vehicle. Anything past 100K is NOT INSURED BY CDIC. so keep that in mind.

https://www.tangerine.ca/en/saving/savings-accounts/savings-account/index.html

#71 For those about to flop... on 12.09.16 at 11:16 pm

If you go to a hockey game the temperature will be around 10/15 degrees in the arena.

Tomorrow ,Toronto football club is playing Seattle for the MLS CUP,the temperature at 8pm kickoff is expected to be minus 10 degrees.

Something is not right with this scenario as one game is played on ice inside and the other one is supposed to be played on grass outside.

I’m not concerned though, as the Metrosexual Messiah seems willing to dabble with climate conundrums and will report back to me with his unbiased findings…

M42BC

#72 conan on 12.09.16 at 11:18 pm

#50 Smoking Man on 12.09.16 at 9:17 pm

That song is worth time warping on.

This version is done in a local TV studio soon after they wrote it. Compare and contrast if you dare. Obvious that the lead singer is also the writer of this song. He has this dollarydoo thing going on.

https://www.youtube.com/watch?v=4exnv9-srgg

#73 InvestorsFriend on 12.09.16 at 11:37 pm

The Bond Bubble

#24 Shawn on 12.09.16 at 7:40 pm said:

July 2016 will go down in history as a generational low for bond yields. Negative bond yields – if that’s not a sign of a bond bubble, I don’t know what is.

*****************************************
Absolutely! And there were people at that time saying you could buy a negative yield bond and hope for a capital gain as the yield went even more negative.

Others (okay, it was Mark) opined that it would still be a good return in the event of deflation. (Yes, but not as good as simple cash so that is a failed reason).

Others were wise and posted here the fact that many institutional bond buyers are “price takers” and bought bonds to meet a target allocation, the yield be damned.

So agreed, it was an epic bubble and many tried to deny it.

#74 Mark on 12.09.16 at 11:54 pm

“I don’t disagree that EU ETFs are cheap. But they’re cheap for a reason. They can remain cheap for some time – a value trap.”

Indeed. However, with markets like Italy at, what, 10X earnings, is there really a lot of downside relative to, say, the US at 26X earnings? I think the importance here, for most investors (except perhaps the most sophisticated) is to have an asset allocation model, with rebalancing, and stick with it. Make it an algorithm. So the question of “what should I invest in” becomes a matter of science, not of random prognostications on the economy or the introduction of personal biases (which more often than not, are proven to be wrong!).

Also, be prepared to have a lot of people tell you that you’re crazy. Its inherently the issue that contrarian investors face. Maybe the gold (and related equities) falls into this category as well, since practically nobody owns any, and portfolio allocations are still extremely small to practically non-existent.

Mark had predicted this run back a year ago.

Yeah. Next year is a lot more problematic though. The mining stock sell-off going into 2016 was so overblown and sentiment so horrible (firms were trading at less than cash in many cases), that it was practically a slam dunk that they would see at least some comeback. The miners have since pulled back 20-40% (depending upon whether you’re talking large-caps vs. juniors). Almost seems like the roll of the dice whether they’ll run again. I’ll probably fall silent on the official “predictions” day if Garth chooses to offer one next January 1.

#75 Mr Wonderful for PM on 12.09.16 at 11:57 pm

http://www.calgarysun.com/2016/12/09/kevin-oleary-may-announce-intentions-on-tory-leadership-run-monday-sources

Hey smoker dude.. oleary’s twitter feed is filled with you calling him a bastard for not buying your book!! aren’t you cottage buddies now you crazy drunken alien… as if Trump bought your book. Have you cracked the top 10000 on lulu yet

#76 RIL on 12.10.16 at 12:00 am

FLOPPY:

You nailed it a few times tonight. Well done. Made me laugh. Good luck with the 14th.

Out,

RILLY formerly WULLY

#77 Capt. Serious on 12.10.16 at 12:29 am

I was leaving work late the other day, walking down the hall. Coming at me was a quite large robot vacuum, working its way methodically along the corridor. Not a person in sight monitoring it, save for the odd employee staring at it. A guy used to ride a vacuum around before… I wonder what he is doing now?

#78 Freedom First on 12.10.16 at 12:48 am

Yes. Government debt and consumer debt. In the US, Canada, Japan, Europe, anywhere.

Debt is very very different for Governments than for the consumers/Herd.

I find it rather odd that so many people world wide think that the system cares whether or not the joe blows lose their jobs their houses their cars their families end up in bankruptcy and possibly kill themselves. This is the reality and the truth. Fact.

The assumptions I read here regarding interest rate forecasts along the lines that someone cares about you are naive at best.

However. I look after myself.

007
Freedom First
Freedomonics

#79 Bob dog on 12.10.16 at 12:51 am

What would a trump hit before Jan 20 do to the world markets. With 300 million guns in the us, I would not be surprised at all if he were to be killed before taking office.

Killed not by a lone angry gunman but by corporate interests or the federal reserve. The Barrett M82 can hit a target from over 1km away.

#80 strange times indeed on 12.10.16 at 1:23 am

#18 Smoking Man on 12.09.16 at 7:28 pm
You don’t want to oun Toronto Realestate in the fall of 2018…I’ve revised my calling the peak to April 2018. Free fall after that.

About three ears ago you said 3 years still so that’s about right.
You’re a good call maker SM.

#81 Future Expatriate on 12.10.16 at 1:46 am

Like I’ve been saying, a very strange man does NOT rule the Western World (and won’t ever, NOW), 17 different US intel agencies are not going to let Putin determine the US Presidency and Administration, and 12-09-16 will be the day the history books will tell us the Putin-hacked US election fascist farce flipped a big fat 180°.

Pop the popcorn, and revise all estimates and plans.

WaPo: CIA CONFIRMS Putin flipped election for Trump.

#82 NEVER GIVE UP on 12.10.16 at 1:51 am

A GREAT CHRISTMAS GIFT;

Every year I give a financial book to my kids. Something to keep their eye on the ball. books like “Think and Grow Rich” by Napoleon Hill. Or even “Looking out for #1” by Robert J. Ringer. “Rich Dad, Poor Dad” books are great inspiration.

The most inspiring book of all is “THE RICHEST MAN IN BABYLON” by George Clason.

All my kids loved it and remain debt free partly because of its advice.

It is a very basic financial guide told in an ancient style. All the basic laws are relevant today.

Give this book to everyone you care about. You can get them used in paperback for peanuts or new copies for 10 bucks. Way worth it!

https://www.amazon.com/Richest-Man-Babylon-Original-1926/dp/1508524351

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

Merry Christmas!

#83 jane24 on 12.10.16 at 2:52 am

Well the latest Chinese RE scandal here in Britain is that the Chinese are no longer content with buying complete new condo towers in London but have moved into buying pubs. They have just paid £2 million quid for the Prime Minister’s local. Apparently pretending to be English is big in China but what an opportunity for microphones under the beer pumps!!

#84 Bottoms_Up on 12.10.16 at 3:16 am

#52 Context on 12.09.16 at 9:45 pm
————————————-
The sun is obviously important, but you missed the part about CO2 and CH4 and how these gases in our atmosphere trap the heat from sunlight and warm the planet. They are called greenhouse gases, and they (along with the sun) cause global warming. More greenhouse gases = more warming. This is what scientists know to be fact.

You can read more about it here:

https://www.epa.gov/ghgemissions/understanding-global-warming-potentials

#85 jfish on 12.10.16 at 4:12 am

And what about that 19 TRILLION dollar American debt. Hmmm. Guess it doesn’t weigh in to this equation. Numbers can be played with any way you want. Gold is up 322% over the last 16 years.

#86 DoomandGloomer on 12.10.16 at 6:48 am

To all those worried about “climate change”:

NEWS FLASH!

Climate change has been occurring continuously for 4.5 billion years. Get over it.

Earth
Planet
Earth is the third planet from the Sun, the densest planet in the Solar System, the largest of the Solar System’s four terrestrial planets, and the only astronomical object known to harbour life.
Age: 4.543 billion years
Radius: 6,371 km
Mass: 5.972 × 10^24 kg
Area: 510.1 million km²
Distance from Sun: 149.6 million km

I read it on Wikipedia – the supreme source of all knowledge!

#87 Yuus bin Haad on 12.10.16 at 9:16 am

Could we at least drop the “Trump” meme? TwinkleToes is more likely to do something dumb than The Donald.

#88 hope & ruin on 12.10.16 at 9:17 am

@ Mark

is to have an asset allocation model, with rebalancing
———————————

Let me guess, you finally figured out how to build a spreadsheet that works out percentages and that’s your “linear programming asset allocation model”.

#89 Renter's Revenge! on 12.10.16 at 9:28 am

#29 Carbon tax on 12.09.16 at 7:58 pm
Only 2 provinces have brain and spine.

That’s funny. It gave the mental image of a giant brain and spine, and then made me think of what the rest of Canada represents: Ontario and Quebec are the stomach and guts, BC and Alberta are the mouth and throat, the maritimes are…well you get the picture.

The stomach says more! But the brain says stop!

But really, it’s not about saving the environment. The provinces that want to implement a carbon tax the most are the least fiscally responsible. They’re just running out of other people’s money and need a way to get more.

#90 Bytor the Snow Dog on 12.10.16 at 9:54 am

@Future Expat-

Pass the bong.

#91 crowdedelevatorfartz on 12.10.16 at 10:08 am

@#80 DumbandGlib
” I read it on Wikipedia source of all knowledge”
********************************************
Here we go again.
You want numbers?
Estimated population of the world
1800- 1 billion
1925- 2 billion
1960- 3 billion
1974- 4 billion
1987- 5 billion
1999- 6 billion
2011- 7 billion
Seeing a trend?
Apparently the earths exponentially expanding population of humans (and all the farting animals required to feed them) doesnt equate to “deniers”.
OK.
Lets talk cow farts.
There are 1.4 billion cows on the planet(19 billion chickens!!!!!!)
Each cow eats aprox 15-20lbs per day.( chickens eat 1lb a day)
Each cow farts aprox 250 lbs of methane per year.
We need more feed. More farmland. More fields.
OK
How about deforestation?
80% of the earths forests have already been cut.
50 million square miles of forest are cut every year.
The equivalent of 35 football fields every minute.
300 Billion Tons of carbon are stored in the earths forests.
700 pounds of paper are used per US citizen each year.
Ok
Industrial pollution
It eventually created enough protests from people that had had enough that politicians were forced to introduce such plithy laws as…..
The Clean Air Act of 1972
The Clean Water Act of 1977
Beijing shut down all industry and severly restricted traffic during the 2 weeks of the Olympics due to foreign athletes concerns about the toxic air in that city. The rest of Asia isnt much better. Although Indonesia has finally stopped burning whats left of its forests down. For now.
Ocean warming, Acidification, Overfishing, etc etc etc.

Whether is a “solar cycle” or “Man made” is really a moot arguement.
Either way.
We’re warming up
The ten hottest years on record for the Planet since records were kept.(1880 – 2016)
#1 – 2016
#2 – 2015
#3 – 2014
#4 – 2010 ?
#5 – 2013
#6 – 2005
#7- 2009 & 1998 (tied)
#8 – 2012
# 9 – 2007, 2006,2005 ( tied)
#10 – 2002
See a Trend developing over the last 140 years?
No?
Ok lets talk about the effects.
The heat reduces crop yields.
Reduces oxygen content in water. Kills fish.
With more hungry people than ever in the planets history.
More animals to feed in the planets history.
And you want to deny its happening.

Let me guess.
You’re a “Building 7” sceptic……..
Nuf said.

#92 Here comes the Fires on 12.10.16 at 10:14 am

Bankrupted and unable to sell homeowners are starting to light up their debt trap homes. I hope insurance companies look into these bankrupt home gamblers and don’t pay out.

http://www.cbc.ca/news/canada/toronto/brampton-fire-vacant-house-no-injuries-1.3890844

#93 crowdedelevatorfartz on 12.10.16 at 10:16 am

And of course for all you Trump fans out there.
A little more reading material with your Saturday coffee…

http://www.reuters.com/article/us-usa-election-cyber-russia-idUSKBN13Z05B

#94 NoName on 12.10.16 at 10:18 am

#62 Gravitational Lens on 12.09.16 at 10:53 pm

#23 Smoking Man on 12.09.16 at 7:36 pm

@Dark Hole and Gravity Waves.

http://www.teslaphysics.com

Einstein’s thorey of relativity. Explains Ether Drag. Less curved space. That’s just stupid Einstein probably experimenting with drugs when he came up with that.

Ether is real, it’s what powers my plasma flyer.

Fun stuff … curved space was directly observed in 1919 during a solar eclipse

The dude is a huckster selling fake cancer remedies.. and an evolution denying Mormon into sweet bebe jeezus fairly tales

You into bebe jeezus too?

—–

Full (total) solar eclipse next year mon Aug 21-2017 best (read closest) place for me to see curved space South Carolina, people on a west coast are “only” short drive to oregon.

Funny thing if Germans didn’t disregard Einsteins relatively theory as a “jew” science and put more focus on quantum theory who knows what would happen, if they did things other way around.
So basically the way I understand, relatively theory falls apart when you go down to very small size (quantum), and exactly opposite happens quantum theory all wrong when you get to test against “cosmic big”.
So how this could be useful for regular working stiff, apply relatively to boost savings, and quantum to manage spending.

Quantum theory in real life.
https://youtu.be/Ws6AAhTw7RA

Gravity, time and bending of light.
https://youtu.be/YByqTYzeJww?t=47s

Now I wonder, can I be in two places at the time at work and somewhere in NC, I know that mind can, but what about body…

https://www.greatamericaneclipse.com/best-places-to-view/

#95 crowdedelevatorfartz on 12.10.16 at 10:38 am

The Trump “train” rolls on down the climate change denial track…….

http://www.reuters.com/article/us-usa-trump-climate-idUSKBN13Y2R6

#96 Doug in London on 12.10.16 at 11:06 am

Last winter bond yields were sinking and the steerage section was convinced banks would start paying people to take negative-rate mortgages.
—————————————————————–
It was also a time of SPECTACULAR sales for stocks, REITs, and ETFs that invest in them. Wow, Black Friday and Boxing day sales went on for about 2 months? I wonder how many of you in the steerage section took advantage of those sales?

#97 AB Boxster on 12.10.16 at 11:06 am

OGM.

G & M had interesting article on Canadians in the housing market. (I know, the G & M is a mostly pathetic news organization but once in a while they produce something interesting).

http://www.theglobeandmail.com/globe-investor/personal-finance/genymoney/how-six-canadian-families-are-coping-with-the-high-cost-of-homeownership/article33279549/

If the stories of these 6 families represent the ‘average’ situation of home owners in Canada then this country is royally screwed.

These stories show people so close to the edge right now, with the lowest rates in history.
And aside from their financial ignorance what is more telling is their total lack of common sense.

The Vancouver family (parents 48 and 51) have a mortgage (1st and second) of 768k. When they bought their house in 2010 they found it had ‘concealed fire damage’ (meaning – ‘i guess we should have had a home inspection’) which cost 200K to fix.

My most expensive home I bought, ever, only cost me 230K.

These people will be crushed and living on the streets.
And if these are representative homeowners, then Canada is in big trouble.

#98 Smoking Man on 12.10.16 at 11:11 am

87 crowdedelevatorfartz on 12.10.16 at 10:16 am
And of course for all you Trump fans out there.
A little more reading material with your Saturday coffee…

http://www.reuters.com/article/us-usa-election-cyber-russia-idUSKBN13Z05B

……

Easy test to determine fake NEWS and propaganda pushers. .

No comments section = FAKE News

#99 Doug in London on 12.10.16 at 11:16 am

@No Name, post #88:
The closest place for me to observe this total solar eclipse is Hopkinsville, KY. If the weather is cloudy that day in South Carolina, maybe I’ll see you there.

#100 AB Boxster on 12.10.16 at 11:18 am

#76 NEVER GIVE UP on 12.10.16 at 1:51 am

Re: A GREAT CHRISTMAS GIFT;

———————————
Thanks,
Timely post as I have been looking for a book for my young adults to help them being to understand finance.

I read Wealthy Barber when I was younger and I like its style and core messages, but I find that the numbers it refers to are way too out of date now.

I will give Richest Man in Babylon a try. The price is certainly right.

#101 DON on 12.10.16 at 11:27 am

@#29 Carbon Tax

I hope you do not mean BC. We already have a carbon tax and we do not know where the tax money is going. Now with an election on the way our premier is fighting for our province. What a load of shit!

Ignorance is bliss.

#102 TurnerNation on 12.10.16 at 11:43 am

After visiting friends in new, flashy tall condo towers downtown in Toronto I can say there are no “Ghost towers”.

Checking MLS there is no for sale inventory.
Even if it’s being held back, on Kijiji or MLS there is no rentals available.

Example buildings: Cinema Tower, Picasso. Sure the economic of owning suck but the system is holding together. Tighter mortgage rules will drive new grads, lucky to earn $15/hr – into rentals and roommate situations in said new kandos.

How about further north, Charles St E. , approaching Bloor area – massive newer kando towers. Little for or sale or to let on MLS.

#103 A large Hadron collider on 12.10.16 at 11:48 am

#88 NoName on 12.10.16 at 10:18 am

#62 Gravitational Lens on 12.09.16 at 10:53 pm

#23 Smoking Man on 12.09.16 at 7:36 pm

@Dark Hole and Gravity Waves.

http://www.teslaphysics.com

Einstein’s thorey of relativity. Explains Ether Drag. Less curved space. That’s just stupid Einstein probably experimenting with drugs when he came up with that.

Ether is real, it’s what powers my plasma flyer.

Fun stuff … curved space was directly observed in 1919 during a solar eclipse

The dude is a huckster selling fake cancer remedies.. and an evolution denying Mormon into sweet bebe jeezus fairly tales

You into bebe jeezus too?

—–

Full (total) solar eclipse next year mon Aug 21-2017 best (read closest) place for me to see curved space South Carolina, people on a west coast are “only” short drive to oregon.

Funny thing if Germans didn’t disregard Einsteins relatively theory as a “jew” science and put more focus on quantum theory who knows what would happen, if they did things other way around.
So basically the way I understand, relatively theory falls apart when you go down to very small size (quantum), and exactly opposite happens quantum theory all wrong when you get to test against “cosmic big”.
So how this could be useful for regular working stiff, apply relatively to boost savings, and quantum to manage spending.

Quantum theory in real life.
https://youtu.be/Ws6AAhTw7RA

Gravity, time and bending of light.
https://youtu.be/YByqTYzeJww?t=47s

Now I wonder, can I be in two places at the time at work and somewhere in NC, I know that mind can, but what about body…

https://www.greatamericaneclipse.com/best-places-to-view/

Cool video.

Quantum teleportation is next!

https://www.scientificamerican.com/article/room-temperature-entanglement/

#104 DON on 12.10.16 at 11:49 am

@92 Smoking Man

No comments section = Fake news

********

Exactly.

Obama is also pushing the fake news. He must be worried.

Then again CBC is reminding Canadians how to dress for winter – I take it is because their news readers can not comprehend other more pressing topics.

The Washington Post is a joke and admitted it.

Fake News = a one sided explanation of a situation / issue = No comments section.

The western media is failing us on so many levels.

#105 Exxon for Secretary of State on 12.10.16 at 11:51 am

http://www.reuters.com/article/us-usa-trump-tillerson-idUSKBN13Z01E

Just a head fake so that appointing Palin will seem sane…

#106 DON on 12.10.16 at 11:56 am

Climate change: Been happening for millions of years regardless of Earth’s inhabitants.

Climate pollution: caused by Earth’s inhabitants in our own backyards.

Carbon tax = new tax source for governments. No concrete examples of what the tax is actually going towards other than into general revenue.

Wake up people. Logic is not hard.

#107 Context on 12.10.16 at 12:22 pm

#78 Bottoms_Up:- I can see you missed all the news about scientists being caught lying about the figures in their reports about global warming. They were paid to fake the reports, but this is all old news.

#108 The Wet Coast on 12.10.16 at 12:25 pm

Once all the elites of the world knew that the world was flat and the center of the Universe, and anyone that had a counter view was shunned. Today the elite know that global warming is the result of human activity and anyone that has a counter view is shunned. Funny, history doesn’t repeat but it often rhymes.

#109 For those about to flop... on 12.10.16 at 12:29 pm

#70 RIL on 12.10.16 at 12:00 am
FLOPPY:

You nailed it a few times tonight. Well done. Made me laugh. Good luck with the 14th.

Out,

RILLY formerly WULLY

////////////////////////////////////////
You went with RILLY ,I thought you might have gone with REALLY.

Re-Energized Albertan Likeable Lawyer Y’know…

M42BC

P.S, did you see the Flyers rope- a-dope the Oilers the other night?

#110 Self Directed on 12.10.16 at 12:33 pm

When I was growing up my Dad used to yell at me if I left the door open…
“Close the door! You’re heating the outside!”.

I had no idea I was contributing to global warming.

#111 crowdedelevatorfartz on 12.10.16 at 12:51 pm

gee…..

Riling up the “deplo-rabble deniers” was easier than I thought….

‘I’ll raise you the temperature and see your Trump”

DON.
Logic is hard when you have no logic.

#112 Ponies Pilatus on 12.10.16 at 12:52 pm

#76 NEVER GIVE UP on 12.10.16 at 1:51 am
A GREAT CHRISTMAS GIFT;

Every year I give a financial book to my kids. Something to keep their eye on the ball. books like “Think and Grow Rich” by Napoleon Hill. Or even “Looking out for #1” by Robert J. Ringer. “Rich Dad, Poor Dad” books are great inspiration.

The most inspiring book of all is “THE RICHEST MAN IN BABYLON” by George Clason.

All my kids loved it and remain debt free partly because of its advice.

It is a very basic financial guide told in an ancient style. All the basic laws are relevant today.

Give this book to everyone you care about. You can get them used in paperback for peanuts or new copies for 10 bucks. Way worth it!

https://www.amazon.com/Richest-Man-Babylon-Original-1926/dp/1508524351

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

Merry Christmas!
————–
Merry Christmas, to you too, Ebernezer!

#113 All in for Environment but... on 12.10.16 at 1:08 pm

Picket carrying environment guy since late 70s. All for cleaning up our act.

But this global warming craze, not so sure.

All I ask is that these Climatologists produce a model that would have predicted just these 5 events in the past 10,000 years (have yet to see a model yet that can do this and recall global warming data faked by NASA and NOAA scientists in 2014 and were caught red-handed doing this):

-Holocene climatic optimum, 5,000 to 9,000 yrs ago – very, very warm
-8.2 kiloyear event, 6,200 to 6,400/6,400 yrs ago – very, very cold
-Medieval Warm Period, 950-1250 AD – wine made in Scotland
-Little Ice Age, 1300-1850 AD – see Pieter Bruegel paintings and Industrial Revolution
-Unnamed Ice Age, 1920s to 1960s – includes post WWII industrialization, they also said the same after Titanic sunk in 1912

Holocene had Arctic increases of 4 °C vs. today’s 1 °C and winter warming of 3 to 9 °C and summer of 2 to 6 °C in northern central Siberia.

The Polar Bears made it thru the Holocene without hour help. Apparently, the Narwhals too.

They show pictures of disappearing Arctic ice and say it is the worst ever. Well “ever” happens to start in 1960 when the TIROS-1 satellite sent the first weather pictures. So 56 years hardly represents “ever”.

Yes, I know CO2 levels highest ever at 22,000X. But when did “ever” start?

Recall Snowball Earth, 712 to 545 million years ago, which the Climatologists cannot explain either, let alone how Earth got out of being near covered by snow for millions of years. They claim volcanoes got us out of it. A 5 years old could have guessed that.,

Just explain/provide a model for 5 key climate change events in the past 10,000 years and I will believe them…yet Climatologists cannot do this, at all.

bsant

#114 Ponzius Pilatus on 12.10.16 at 1:09 pm

No comment. Self explanatory.
http://vancouversun.com/business/real-estate/hidden-ownership-of-homes-prevalent-in-b-c-report-says-raising-money-laundering-concerns

#115 crowdedelevatorfartz on 12.10.16 at 1:10 pm

“No comment sections”
********************************************

Possibly, juuuuuust possibly .

The result of thousands of hours of endless editorial reviews/corrections/deletions/etc/etc/etc. because every wingnut on the planet with access to a computer is allowed to spew their version of reality( myself excluded…of course)

Enjoy the comment sections for now my conspiracy theorist mastubators.
Seeems even the “Big Boys” are gonna start editing
( insert censoring) unverifiable BS conspiracy theories on their sites.
A la Donald Trumps election lies

https://www.google.ca/url?url=https://www.newscientist.com/article/mg22530102-600-google-wants-to-rank-websites-based-on-facts-not-links/&rct=j&frm=1&q=&esrc=s&sa=U&ved=0ahUKEwjoqMuSnOrQAhVHKMAKHTwbAJQQFggoMAM&usg=AFQjCNEq6g8svUrtXMWAIrYpzPudiwWlug

Gee. Does that mean “Truthers” are gonna have a hard time being heard if they have to provide quantifiable data other than nectonite plasma bursts out their urethra…..
Ironically enough…..
The “information Age” seems to have made otherwise intelligent people stupid.

#116 Stephen Shaw on 12.10.16 at 1:32 pm

I don’t get why you think Trump is ‘strange’. He just beat the Wicked Witch handily while spending much less, has run huge enterprises for many years employing thousands and he’s a winner. Maybe that’s it, he wins . . . A guy sits on a dock with an uncovered pot of lobsters. Someone asks if they’ll escape. “No,” he says, “they’re Canadian. When one tries to crawl out the others pull him back down.”

I didn’t say he was strange. I said very strange. I was being kind. — Garth

#117 Dark Matter on 12.10.16 at 1:35 pm

#23 Smoking Man…
Spend $10.00, buy 3 books of “Science for Dummies”. When you finish the first one, read the second one. (There’s a pattern here)

#118 Happy Housing Crash Everyone! on 12.10.16 at 2:00 pm

With sales stalling some have mo option but to burn their debt monster
http://www.cbc.ca/news/canada/toronto/brampton-fire-vacant-house-no-injuries-1.3890844

Happy Housing Crash Everyone! :-)

#119 For those about to flop... on 12.10.16 at 2:07 pm

This is how we are going to save the planet…

M42BC

http://www.dailystar.co.uk/news/latest-news/569227/how-to-cook-steak-perfectly-in-the-dishwasher-food-hack

#120 Bytor the Snow Dog on 12.10.16 at 2:07 pm

@107 bsant-

Exactly where I’m at. The sample size is just not big enough to draw any conclusions.

#121 Context on 12.10.16 at 2:08 pm

#109 crowd:- The truth of the matter is the big boys are restricting the real facts as it threatens the machine. They are taking down you tube presentations of reality based on real facts that the citizens are not to know about. The big boys want to control the message and your way of thinking in a certain direction which is called censorship, as only their reality must be seen

#122 Context on 12.10.16 at 2:21 pm

“He who controls the past controls the future. He who controls the present controls the past.”
-George Orwell 1984

I will give you an example where the history books are wrong because they don’t want you to know the truth. A simple question can be asked such as when did WW2 begin. The answer found will not be correct, as WW2 began on March 24, 1933 which was the headline worldwide with a Declaration of War against Germany.

#123 crowdedelevatorfartz on 12.10.16 at 3:31 pm

@#115 Context
“the big boys are restricting the real facts …”
*******************************************
I love the generalized, unverifiable, unquantifiable shotgun statements shouted forth by the conspiracy theorists…..

Lets take that in Context shall we?
“The big boys” are Who exactly?
“Are restricting the real facts” How exactly? and Why?

If I didnt know any better I’d say a lot of you “deniers” are sipping from a Paranoid Fruit Punch bowl….

#124 crowdedelevatorfartz on 12.10.16 at 3:45 pm

@#116 Context
“as WW2 began on March 24, 1933 ”
********************************************

Nice try.
It was an announcement by the World Jewish Congress in New York at the Waldorf Astoria Hotel to financially boycott Germany due to their antisemitic practices. It was entirely voluntary for govts., businesses and private individuals to join in. Thousands did.
Nazi Germany ramped up their persecution of Jews in retaliation.
Regardless of what ever pro nazi websites you hang around on.
Lets try, just once, shall we?
To report the ENTIRE facts, not just partial, editted facts to support your biased and skewed outlook.

#125 crowdedelevatorfartz on 12.10.16 at 3:59 pm

@Context
Oh.
And in quoting George Orwell’s statement about propaganda and lies while deliberately misstating the “start” of WW2…..is the epitomy of Irony.

So in response I shall quote Samuel Clemens
“Sanity and happiness are an impossible combination.”

I wish you much happiness.

#126 Ace Goodheart on 12.10.16 at 4:02 pm

RE: “But the era of real assets is kaput for a while.”

Here’s some interesting numbers for you:

This is what happens when your city densification goes a little stellar:

Price per square meter to purchase an apartment in Seoul, South Korea:

https://www.numbeo.com/property-investment/in/Seoul

That is 13,125,821.47 ₩ which is $14,742.23 Canadian dollars. For a square meter. Average size of an apartment is 106 square meters, which gives you $1,562,676.38 Canadian dollars for your average apartment.

I guess you could try to purchase a house. Likely you would have to be Warren Buffett. If you don’t happen to be him, you could always rent a house. Here are some rentals on the outskirts. Prices are per month in US dollars:

http://acerealty.co.kr/rent/single_house.php

I like the one the one in the UN village in Yongsan-gu that rents for US $10,000 per month. That one is pretty.

This is just for illustration as to what happens when you get rapid densification of an urban area. And remember for people who are going to say “well they have a really nice climate” well they don’t. Seoul is friggin cold in the winter, it snows and it is below zero for much of the time. The climate is actually very similar to Toronto with the addition of a “rainy season”.

We are doing this sort of intensification to Toronto right now, packing more and more people into the same small space. As we do so, detached houses are going to become “unobtainium”.

#127 Context on 12.10.16 at 5:59 pm

Benjamin Freedman would be laughing at some of you as he was within the highest levels of the US Government and there was no Anti-Semitism in Germany before 1933. What is the definition of a Semite? Thus to be Anti-Semitic, which is based on linguistics, one must include many of the Arab Nations, so its checkmate on you.

#128 Ace Goodheart on 12.10.16 at 8:07 pm

RE: #121 Context:

“Thus to be Anti-Semitic, which is based on linguistics, one must include many of the Arab Nations, so its checkmate on you.”

You are correct. In fact, all Palestinians are Semites.

#129 bill on 12.10.16 at 9:39 pm

#107 All in for Environment but… on 12.10.16 at 1:08 pm
http://muller.lbl.gov/pages/IceAgeBook/history_of_climate.html
strange clues abound!
grass lands now found only around kamloops and more southerly and to the east these days -once flourished in the north where one can still see their remnants on the south side of some mountains..
or western red cedar growing in the cool wet dark depths of narrow canyons in the cariboo and a patch of Gary oaks still hanging on around yale where one would be more likely to find them around the gulf islands…the few that remain
would seem to indicate a lot of climate fluctuation in the past
an excellent book on the subject….
https://www.amazon.ca/Geology-British-Columbia-Journey-through/dp/1553658159

#130 westcdn on 12.10.16 at 10:39 pm

My best forward had her ankle broken by a viscus tackle. I helped her off the field. Then I turned berserk. I offloaded on the other coach. My daughter walked up to me. She said it could have been worse – she defused me.

#131 Future Expatriate on 12.11.16 at 3:17 am

#84 Never had one. Why I’m here at my advanced age and so many others aren’t.

#132 Context on 12.11.16 at 10:03 am

#118 crowd:- What would you do if your family was under attack and starving to death for a lack of food?
They were Zionists and not Judeans or do you not know the difference? I am not the message so take your concerns to Benjamin Freedman.

” All truth passes through three stages. First, it is ridiculed. Second, it is violently opposed. Third, it is accepted as being self-evident. ”

– Arthur Schopenhauer