The rich & the rest

My colleague (and closet conservative, or is he a lefty?) Doug Rowat stirred the animal spirits on this barnyard blog over the weekend by writing about Trumpism and why the guy got elected. Timely. Trump’s de facto Muslim ban on Friday earned sharp criticism from CEOs of companies like Google, Bayer and BMW as well as world leaders (Merkel, May) and crowds of airport protestors. It also had stock futures heading lower Sunday.

Markets hate disruptions and surprises. It was only a matter of time before a shock-and-awe style of presidency clashed with the predictable money-making that investors want. As this blog has warned for weeks now, the Trump Bump rally that took off after November 8th and recently pushed the Dow past 20,000 is due for a healthy correction. Seriously insulting seven dangerous countries and the world’s second major religion (Islam has 1.226 billion adherents) might just bring it about sooner. We shall see.

But this is not about Trump. Rather the times that created him, plus the Occupy movement and the growing wealth chasm. We live in a society where it’s perfectly okay for a ball player or a second-rate rock star to make $20 million a year, but the guy down the street with two Mercedes and a nice house is an economic pariah. T2 came into power riding a tax-the-rich train which led to a new 29% super-tax bracket, a gutting of TFSA contributions and (soon) an attack on small business corporations. Now people making $250,000 have a 53% marginal tax rate, and are painted as an evil elite.

Brad encountered this the other day in a hospital room on Vancouver Island.

“You’ve touched upon the “Hate the Rich” meme a few times,” he wrotes. “Here’s my story from last week.

“My parents were the children of poor immigrants.  They taught me as a child to watch how rich people lived and achieved success and maybe there was a lesson to be learned.

“So I end up a 61-year-old retired 1%er sitting in Pre-Op classes at the hospital.  A wonderful young nurse is telling all of us how to prepare for hip replacement surgery.  I’m sitting beside an angry wrinkled 75-year-old and her equally angry 50-year-old daughter.   The nurse was explaining that the surgical dressing provided by the hospital could be upgraded to a speciality dressing at a “small cost”.   When the nurse said “the price is 45 dollars” there was an audible gasp of disbelief from the two.  There was a frantic and surprisingly diplomatic explanation from the nurse that the hospital supplied dressing was perfectly adequate and that the extra cost dressing was just an option the surgeons wanted their patients to be aware of.  But the stage was set.

“During a break a total shitstorm erupted after the nurse came up to me.  She said I’d have to arrange payment for my (upgraded) ceramic implant that I’d requested and that the cost was $749.  I said that was fine, that I was expecting it to be more like $2500 and $749 was a bargain.

“Well I was trying to speak softly but Prune Face exploded….. “So the rich people get better hips than us commoners!”,  PF’s daughter…………. “That’s just not fair!”,  “That’s just not right”  Other remarks followed until I suddenly realized I was expected to apologize for being successful in life. It was a long 2 hours getting these constant laser beam glares of class resentment and bitter hatred sent my way.

“So am I supposed to be embarrassed or ashamed of working my ass off and making all the sacrifices I did? “

Of course you are, Brad. And the anti-wealth, anti-success meme is exactly what helped push a person like Donald Trump into the White House, while allowing Trudeau to get elected saying he would tax the rich to lower taxes on the rest (he failed, by the way. Not enough rich).

Brad’s comments led me to do some research into Canada’s 1%ers, by income. Who are these people? How do you become one?

There are 35.16 million Canadians but just 268,000 people who qualify as being in the 1% – who get to pay Trudeau’s top tax rate, clicking in at an income around $227,000. These people average 52 years of age, are 78% guys and overwhelmingly married (82%). On average, they pay $160,000 in income tax – which means the 1% finance at least 12% of all taxes collected.

Most of the big incomes these folks collect come from working, not investing or inheritances. In fact 70% of it. So, what do they do? In general, one of three things. Either they’re business managers (30%), health professionals (15%) or engineers (11%). At the back of the pack are lawyers (7%).

When it comes to education, 90% are university grads. The top-earning groups are corporate execs ($421,000 average) and doctors ($333,600). The business guys generally have been 22 years into their careers from entry-level positions, while the docs have spent an average of 15 years studying and training.

So now you know. Most 1%ers like Brad actually earned what they have. Education. Experience. Training. Decades invested. Skills acquired. Degrees earned. Promotions won. Nary a silver spoon in sight. Meanwhile most of the 99% are obsessed with real estate. And expecting an apology.

Enjoy the hip, Brad.

269 comments ↓

#1 For those about to flop... on 01.29.17 at 3:25 pm

This house is most likely an example of things to come in Vancouver.

The listing at 2235 W 8th is assessed at 2.25m and after being attempted to be sold for around this price and a couple of price adjustments later it was listed and sold at approximately 1.650m in late November 2016.

The latest sale has not been entered into the database yet, but it is highly unlikely that a bidding war broke out and bid back up much above this number as it was available at 1.75m for a while and no one bit.

This listing and example I am trying to share has nothing to do with Pink Snow as there was no other recent sale for a flip,I am just trying to show how the bloated official assessment will count for little on the way back down.

If the 1.65m number holds it will have meant that this house was sold a full 600k or 26.6% under the city’s assessment in a coveted part of the city.

Perhaps more importantly ,instead of rueing the fact that they waited 9 months too long to cash in at what appeared to be the summit ,still made a nice profit and can move on with the next chapter of their lives…

M42BC

http://www.yattermatters.com/homes-for-sale/my-sold-listings/kitsilano-best-buy/

https://evaluebc.bcassessment.ca/Property.aspx?_oa=QTAwMDAwMEJEQw==

#2 Fish on 01.29.17 at 3:27 pm

Who that in the front, you are early today, Great job, well done!!!

#3 Trumpocalypse2017 on 01.29.17 at 3:29 pm

Massive protests again today in Washington and across the USA.

The “Trump bump”, ironically, will historically only refer to the period when he was not even in office!!

The rest will be unfolding chapters of chaos and destruction.

And war?

The Chinese are now convinced it is coming:

http://www.independent.co.uk/news/world/asia/china-donald-trump-war-us-military-official-practical-reality-president-latest-a7550601.html

Smart 1%ers have been preparing for years – have you?

https://www.cnet.com/news/apocalypse-proof-condos-already-sold-out/

#4 Centre Wing on 01.29.17 at 3:30 pm

I don’t resent the 1%. I want to become one.

#5 Slim on 01.29.17 at 3:41 pm

And these same people voted for Trump who inherited his millions. His father got rich by milking the system. Someone who is successful because of hard work is then ostracized. Unbelievable!

#6 moneydriven on 01.29.17 at 3:44 pm

Good article but time has changed.

University degree even masters/MBA is no longer putting you ahead.
Investment after fees/taxes return 4% which is just 2% above inflation
Both couples have to work to get by as oppose to second income helper/saver strategy
You could’ve save all your money and buy your own place in 5 years and now it’s impossible.
Having kids did not mean no retirement.
You could’ve climb corporate ladder as oppose to hang on for dear life to not being replace with àutomation or oversea worker.

Sure hard work and saving helps a lot but the challenges are 10x more… But again what do I know, I’m a whinny millennials.

#7 I'm stupid on 01.29.17 at 3:45 pm

That just makes me sick! My wife and I have been trying to have a child for almost a year. It’s been the most stressful year of my life. We’ve gone to a fertility clinc and did all the test. We’re both fine, but they don’t know why we haven’t conceived. The specialist recommended IVF at a cost of around $30k with drugs required. I’m completely fine paying as it’s tax deductible so that’s only around 15k net. What made me sick is that Ontario funds IVf but to a maximum of 500million a year so you need to go onto the list and the wait time is almost 2years. I don’t want to wait 2 years so I prefer paying but it’s complete BS because I should be able to pay for the treatment then put my name on the list and when my name comes up be reimbursed. I know I sound like a snob because I can afford to pay for it and should let those less fortunate get it for free but in my life I’ve worked my ass off and never got any help from anyone. I’ve worked since I was 14 put myself threw school supported my immigrant mother after my father died when I was 16. When do I get a break? I sacrificed my youth my childhood my early 20s and all everyone does is count how much money I have. It’s BS I would gladly give it all up for my childhood back. All my wealth can’t buy the freedom curiosity and carefree time of a teenager.

It’s like everything the government has ever done works against me every time. I feel like a second class citizen and I’m sick of it. I don’t mind working hard and making the necessary sacrifices for my family and my future but, not when it seems like everyone else gets a free ride paid for by people like me!

I don’t care if you’re poor, chances are it’s your own fault. I’ve been there and it sucks but you can change it so don’t cry me a river!

#8 Anne on 01.29.17 at 3:46 pm

Perhaps we should focus more on taxing wealth. Some people in Vancouver have made millions on real estate the last few years. Why should they pay no tax while working people pay the price through both taxes and increased housing costs resulting from speculation.

#9 TurnerNation on 01.29.17 at 3:54 pm

Well, rumour has it WUL was on track to become a QC, until he spotted a particularly comely judge and yelled “Show us your writs”.

#10 domain on 01.29.17 at 3:55 pm

“And the anti-wealth, anti-success meme is exactly what helped push a person like Donald Trump into the White House, while allowing Trudeau to get elected saying he would tax the rich to lower taxes on the rest (he failed, by the way. Not enough rich).”

Garth,

I would argue that this is incorrect in regards the what propelled Trump into office. Certainly the anti-success / anti-wealth meme is a correct explanation of the plastic mannequin T2’s win, but it would more correctly apply towards Clinton/Sanders, as opposed to Trump.

These very same people you identify in this post, are the majority of the people who are protesting against Trump for their various reasons, including an attempt to somehow reclaim the election outcome, which was the result of a resounding NO from Americans who do not share the same values as the Left (affectionately ‘Snowflakes’).

The rest of your post, which like most of your other posts, paints a sad picture of the reality that we are living in, and advancing towards.

The Left, who seek to invite the state into every aspect of their lives, look at anyone who disagrees (successful entrepreneurs, rational thinkers, and hard working people) as being the cause of their hardships and failures, when it is the government and the monetary system who is to blame for the ever-widening gap.

Now the feds want to consume even more by increasing taxes, shrinking the pool of real wealth even further, leaving us in a position where we are forced to shift our view from long-term investments to shorter-term needs, and safer more liquid investments.

None of this will bode well Canadians as a whole, because it means that capital formation will recede, and so will jobs, and wealth along with it.

There are nearly no more domestic headwinds left to point towards Canada, especially once the RE crash is fully underway – barring a direct strike from a meteor.

Heaven forbid we go into another sharp global downturn soon, because we couldn’t be less prepared for it.

#11 Ace Goodheart on 01.29.17 at 3:55 pm

“Meanwhile most of the 99% are obsessed with real estate. And expecting an apology.”

Is that what’s happening? That makes sense now. A middle class lottery.

More Trumpster comments (bet ya can’t go a day without blogging about him).

That person just put many people at risk, did massive damage to the USA’s reputation internationally, and his behaviour required Federal Judges and lawyers to quickly fix the massive train wreck that was building up in response to his ridiculous and dangerous “executive orders”.

He is like a child playing with matches and gasoline. You only hope the adults get there soon enough, to put the fire out, before someone gets hurt……

#12 Millenial on 01.29.17 at 4:02 pm

-Top 1% of income earners make $227,000 or more.
-Those making $250,000 have a 53% marginal tax rate.
-Average price of detached home in Toronto is $1.35 million.

Ok.

#13 Greg on 01.29.17 at 4:02 pm

Hi Brad,

Nice to hear about someone that worked hard and can now afford to make a choice in regards to material to be used for a new bionic hip. I trust it’s advertised advantage is more than just marketing and worth the difference, to you anyway. I’m sure the standard kind is fine also. Maybe the standard just get you a bit more attention going through metal detectors at airports?

It sound like you have no reason to feel any guilty.
Guilt is self imposed for the most part, or often blamed on mothers, which is really unfair to mom’s.

Sounds like the people sitting beside you wanted to try and impose there feeling onto you. To bad everyone can’t just get along.
Brad don’t worry to much, try and be happy.
But maybe the people sitting beside you need to be reminded of that more than you do.

Hope your new hip works out ok.

Any thought of shocking the angry people with a $45. upgraded dressing surprise gift? Not that you have any reason to do that. It’s more of just me thinking out loud. I wondering what the look on there faces would be if that ever happened?

I’m just glade there is a Canadian health care system that works for the most part. Not that it’s perfect.
I’m glade I have been able to contribute to paying for it with my taxes, as I am able. Nice to know you don’t need to mortgage your house or cash in the RRSP just to get medical care when you really need it.

Weather your poor or the 1% you can’t buy good health and death is the great equalizer. You might as well try and be happy since we only know for sure we get one trip through life. Some how some people don’t truly understand the gift of good health until it’s they lose it.

#14 animal spirit on 01.29.17 at 4:05 pm

My colleague (and closet conservative, or is he a lefty?) Doug Rowat stirred the animal spirits on this barnyard blog over the weekend by writing about Trumpism and why the guy got elected.

You don’t have the slightest clue about animal spirit.
Stick to what you know.

#15 Rocky on 01.29.17 at 4:09 pm

There are plenty of ‘silver’ spoons in sight.
Start buying them.

#16 Freedom First on 01.29.17 at 4:10 pm

Yes. I could never understand how people could choose debt over wealth.

The only things I could come up with were: wanting instant gratification, lack of creativity, laziness, ego, and entitlement. Now, I left out a few as I did not want to offend anyone.

Also, and I certainly mean no disrespect, as it is simply how we were born. But some people have higher I.Q.’s than others, thus giving many more opportunities than others. This simply means all people who reach their full potential will have varying standards of success. Of which none is less worthy than the other.

Now, I am no 1%er, though I do my best to also speak softly, as I know what Brad is talking about.

#17 Euro observer on 01.29.17 at 4:10 pm

Many people in GTA made over 200 k in house appreciation last year alone, tax free.

The stupid drama teacher can tax them first before going after doctors and professional corporations.

As for me I choose not to reside in Canada and not to pay any taxes to these stupid idiots in power. Tx my behind, fellas.

#18 Euro observer on 01.29.17 at 4:11 pm

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#19 Penny Henny on 01.29.17 at 4:12 pm

And the anti-wealth, anti-success meme is exactly what helped push a person like Donald Trump into the White House-Garth

No I’m pretty sure that people didn’t want corrupt Hillary.
Nice try though.

#20 Courage and Poo on 01.29.17 at 4:12 pm

I bet you all these self-entitled peeps consider themselves liberals.

As for the refugee ban, the countries selected were part of Obama’s legislation. Trump’s executive order pointed to it, and does not explicitly list them. Plus, Obama put a 6-month ban on refugees from Iraq during his term. Media Bias. Is anyone surprised? After all the trucks running people over (and killing them) and mass shootings of clubs (including LGBTs) the gauntlet has been thrown down. Still, i’m down for bringing in refugees (not American refugees though, they can stay there, or secede. Not our circus, not our monkeys). The root of the problem is still us having to stop to bomb the shit out of all these countries! Ghaal!

#21 common sense on 01.29.17 at 4:14 pm

Nice Post…The TRUTH will set you free but sadly 99% of the population doesn’t want to hear it.

The garbage that has been spewed from advertising the past 50 years has set up everyone in the world to think it is a god given right to be wealthy, young and brilliant forever. As a result, governments and 98% of the population over spends, tries to keep up with the Jones to keep the mirage of success and ego ego at bay..Voila! Here we are in 2017, with a maniac as ruler of the free world, debt levels and low interest rates rarely seen in history and shit about to hit the fan sooner than later…

Exactly…enjoy your hip. You EARNED it.

#22 AB Boxster on 01.29.17 at 4:14 pm

I really don’t think it was the anti-wealth, anti-success crowd that pushed the Donald into the Presidency.
Them was the Bernie nuts on the ultra left side of the spectrum.

It was rather the pro-everyone else mentality of the globalists, to redistribute from the working class to any other country the US traded with.
As part of this, yes the globalist companies got rich.

But I never heard a whole lot of complaining about the rich in America, unless it was from those who defrauded the American citizenry through their lending practices or those who caused a massive financial crisis for the past decade and escape unscathed.
Or perhaps having to listen to wealthy actors who think their political opinion carries more weight than any others.

In America, most of Trump supporters just want to be left alone by government, to have equal opportunities in life, and to feel that government is on their side.
In their America , working hard and becoming successful is a worthy goal.

Canada is vastly different from the US in this respect especially in the new voting generations.
Canadians now expect government to solve all problems, either through spending or legislation,
or both.

Trump’s goal is to get government out of the business of over-regulation, and taxation while T2’s goal is to increase it.

It is obvious the bias in Canada against the wealthy and their success. I don’ know why you think Trump’s supporters share the same attitude.

#23 boonerator on 01.29.17 at 4:16 pm

Prune Face is not only an envious troll, she is monumentally stupid. More expensive is not necessarily better.

When I needed a new hip, I was considering ceramic.
My doc told me about “Bill”, his patient who had paid the extra for ceramic. He knew Bill was coming because he could hear him squeaking as he walked in the door.

This does not happen to everyone obviously, but the durability advantage of ceramic is not worth it for many people. My bog standard metal hip will definitely outlive me.
So if Prune Face had a brain instead of the free floating envy so common, she could have sympathized with Brad.

#24 greyhound on 01.29.17 at 4:19 pm

“There are 35.16 million Canadians but just 268,000 people who qualify as being in the 1%…”

Um, I’m curious about the math; has “1% of 35,160,000 = 351,600” now become an “alternative fact?”

#25 jay on 01.29.17 at 4:20 pm

Chrusty Clark just caved in to the real estate industry on new year day ,she cancelled the 15% foreign buyer tax . Gung Hay Fat Choy. That didn’t take long!!! http://www.cknw.com/2017/01/29/b-c-to-lift-foreign-buyers-tax-to-people-with-work-permits/

#26 ccc on 01.29.17 at 4:26 pm

#7 I’m stupid: Then stop complaining in this blog and get back under the sheets and keep trying. We don’t care if you want and can’t have a child. It probably sucks but if the doctor said you both are fine then chances are it’s your own fault!

Hard to see one’s own logic boomerang back isn’t it? The fine edge of generalizing. We all need learn how to be more generous.
Not all kinds are made equal. Despite feeling second class, rest assured that is just a temporary feeling. At least till the mobs come with torches to take away/nationalize your self-made wealth.

#27 For those about to flop... on 01.29.17 at 4:27 pm

DELETED

#28 Saint john on 01.29.17 at 4:27 pm

All the best Brad on your “mending”

#29 Mean Gene on 01.29.17 at 4:27 pm

It sucks that Brad had to endure the harassment from a couple of ugly communists, time to write a letter to the Hospital and suggest they only discuss upgrades in private.

#30 BS on 01.29.17 at 4:29 pm

#1 For those about to flop… on 01.29.17 at 3:25 pm

I am just trying to show how the bloated official assessment will count for little on the way back down.

If the 1.65m number holds it will have meant that this house was sold a full 600k or 26.6% under the city’s assessment in a coveted part of the city.

In the BC Assessment comparable sales, 2765 W 8th Ave was sold in June 2016 for $2.58 million and has a similar assessed value at $2.3 million. Sucks to be that buyer to see a similar house sell for ~$900k below what you just paid just 5 months ago.

https://evaluebc.bcassessment.ca/Property.aspx?_oa=QTAwMDAwMEJEQw==

The Vancouver SFH is crashing hard. The ironic thing is it was the Vancouver Westside house that was supposed to be the pillar that all the RE shills said could never decline in price. At this pace they will be down 50% from peak by summer.

#31 just a dude on 01.29.17 at 4:38 pm

Brad,

Whiners will always be whiners. That’s been my experience anyway. I come from a lineage much like yours, and, I have no apologies to make to anyone who didn’t seize on the fantastic opportunities offered by this great (but listing) country of ours to improve their circumstances during the course of their lives.

Enjoy that hip upgrade to the fullest and ignore the damned whiners.

#32 Cici on 01.29.17 at 4:43 pm

Probably you best post yet Garth…keep breaking those records!

The only important element thst you forgot to mention is that most of us have reasonably well-paying jobs thanks to the initiative and risks that these business owners take on. Yet, there are always a few little men or little women who think that they are so much smarter and know much better than the head honchos. Granted, some businesses are poorly run, but in most cases, small-to-medium business owners care about their companies and workers, and do their best to run them as efficiently and productively as possible, because not doing so will negatively affect their own bottom line. Ditto in terms of being able to attract and retain highly skilled and dedicated workers.

Unfortunately, to stay competitive, sometimes they have to make tough decisions. And that’s probably one of the hardest parts of their job. We all conveniently forget that though, don’t we?

#33 Keith on 01.29.17 at 4:44 pm

So the 1% is 78% male. Must be a merit based system.

#34 Attention Im Stupid on 01.29.17 at 4:52 pm

#7 I’m stupid

Wife and I had the same problem. All tests came back normal for both of us. They called it unexplained. Natural path had similar problems and told us to try cough syrup that thins the mucous. We were about to spend 20-30k . Wife took cough syrup for two week at the start of her cycle and we got pregnant the first month we tried it. I beleieve most of these unexplained problems is just her mucus is to think and your little guys are having trouble going through. The cough syrup thins the mucus. Try it. You never know. Good luck.

#35 Tony on 01.29.17 at 5:00 pm

10 Millenial on 01.29.17 at 4:02 pm
-Top 1% of income earners make $227,000 or more.
-Those making $250,000 have a 53% marginal tax rate.
-Average price of detached home in Toronto is $1.35 million.

Ok.
_____________________________________

Shyster realtors and every other vested interest will never talk numbers. Stupid Canadian government needs to end CMHC right now. Lets the banks use there own money to recklessly lend to anyone.

#36 crowdedelevatorfartz on 01.29.17 at 5:00 pm

@#14 animal alcohol (AA?)
“You don’t have the slightest clue about animal spirit.
Stick to what you know.”
*******************************************

Please enlighten us lesser beings.

#37 Toronto Real Estate Agent on 01.29.17 at 5:00 pm

Nice to know I will be able to afford a decent hip in my old age !!!!
Long live Toronto Real Estate !!!!!!

#38 mark on 01.29.17 at 5:03 pm

Oh those places are the hilarious. I was sitting in one with my parents once, the old boy was having an angiogram. Free of course, but always eaten well, taken care of himself, no booze, no smokes. So the guy’s hardly a drain.

There were a bunch of oldies in the room, but the loudest weighed conservatively 10 tonne and as soon as he waddled into the room he was looking people dead in the eye so he could make contact and start hammering home his well thought outs.

We did our best to ignore him until a few others arrived. Then he got an audience. It was a constant stream of who deserved what in life. The guy had been bought back from the dead twice after heart attacks! He was having procedures every other moment on the public dime, but people like him weren’t supported well enough by the government!

#39 cecilhenry on 01.29.17 at 5:05 pm

What is your fair share of what someone else has earned??? It has to be EARNED before it can be taxed and stolen.

Or, they just stop working and being targets. Or, in many third world countries — everyone cheats. Always.

Fleecing the productive is a sure way to make the productive disappear or at least foster the parasitic mindset to steal, lie, coerce and destroy. Taxed on the money you earn, then taxed on savings, taxed on investments, taxed on tax.

Got that raise and 10 more hours a week responsibility– well not to worry, most of the benefit will go to the government anyways. That’s envy and parasitism disguised with words like ‘privilege’. Its not privilege: its accomplishment and sacrifice.

Why work??? WE have communism. The government control wages and incomes AFTER the fact with taxation. The government takes 50% of everything. If you work hard then it is simply given to someone else by force.

Democracy has become one vote and 2 minutes of input every four years, followed by government fiat on 10,000 decisions to tax, steal and coerce everything from you for next 4 years–with state force to back it up.

Forced redistribution of income is theft, and makes citizens into slaves and property of someone else’s agenda.

Do you think this will build or destroy ‘social capital’??

Stop the taxing mentality. Not tax this, or tax that instead (always the wealth someone ELSE has created). Let people choose what they pay for, or don’t.

Stop hiding behind government to accomplish the theft and coercion of your neighbour that you could NEVER do openly.

There are plenty of precedents, from T2’s favourites: Cuba and Venezuela.

‘Privilege’ is the newest mask for envy as social policy. Government eats it up for the power it brings. I won’t help.

#40 mathman on 01.29.17 at 5:05 pm

re# 12 Millennial – my sentiments exactly.

.76% of the population makes over $227k/yr, it seems in Toronto most people are pretending they do. Pretending to be rich has taken over Hockey/Lacrosse as Canada’s national sport. Statistically speaking, if today was the day everyone had to buy a home, then 99% of people could not afford the places they live in today.

I make north of $227 – but I am not wealthy. Spent my 20’s paying off my student debt for a degree that has paid back in spades so far. At almost 40, with my income in no way could I afford a house in any neighbourhood that I would want to live in and still enjoy life (Travel, true financial independence etc)- Toronto is expensive and i am fine with it, my choice to live here and it offers what I value.

my question however is how everyone can afford these wonderful houses, german luxury imported cars, Everything Isomething, Canada moose jackets etc. The reality is they can’t, and when it comes to pay the piper people are extremely naive at the magnitude of the housing correction we could potentially experience.

It is my experience in life that those who are truly wealthy don’t feel the need to show it. Like my father always called them, the 30 thousand dollar millionaires are everywhere.

Math

#41 Cici on 01.29.17 at 5:13 pm

#7 I’m Stupid

Sorry to hear about you and your wife’s difficulties.

You’ve probably already tried everything, but this may help:

http://www.pcnguide.com/wp-content/uploads/2016/03/00-2-Improve-Your-Health-and-Enhance-Fertility.pdf

or

http://www.canadianliving.com/health/nutrition/article/foods-that-help-fertility

Never underestimate the positive effects of being physically fit and following a healthy diet pre-conception. You don’t have to be running marathons or following a strict diet…just keeping on the move with regular, moderate exercise and a simple diet packed with low-fat and nutritious proteins, vegetables and cereals.

Also, for what it’s worth, I’ve noticed that a lot of successful, high-achiever power couples seem to have a hard time conceiving, even when there is seemingly no physiological reason. I suspect the stress and pressure that Type-A people generally subject themselves to may be a cause.

While you are waiting for “help,” try to relax and enjoy the sex and each other’s company without overthinking things or expecting immediate results.

Good luck! ;-)

#42 crowdedelevatorfartz on 01.29.17 at 5:15 pm

@#37 TREA

“Long Live Toronto Real estate”
********************************************
AHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA

Poke that hornets nest ……….

#43 April. on 01.29.17 at 5:19 pm

Y’know, some of the hip replacement story is just stupid service delivery. Do airlines, after people have paid their money and are cooped up in little slivers of space, *show* the low-renters the treats that are being offered to the spenders? Why is a nurse selling upgraded wound-care packages – do cockpit crew members wander the low-rent aisles offering for-a-price sirloin to folks expecting cost-included pre-wrapped sandwich wedges? *And* if a person has been on a waitlist for hip surgery for quite a bit longer than one’s friends/family waited for similar surgery and this is the first time one has heard that there is such a thing as a ceramic hip joint, so that one knows that if one expresses an interest in paying for such a thing, one will go to the bottom of the list for the surgeon who specializes in such joints – one might be a tad crabby over other factors than just the price. Whether it is the price of the hip, or the fact that the surgeon spent more time discussing options with the well-to-do patient – it is still of a piece with the well-to-do being offered better whatever.

The big question here is: why are these services-for-a-fee being offered and finalized in this clumsy way?

#44 acdel on 01.29.17 at 5:20 pm

Us 99% that have worked our butts off having to follow corporate or business decision’s or worst political decisions that just did not make sense, it’s the front line that knows what is going on out there.

You so called 1% are the one’s that are worried now; the pendulum is finally swinging back hopefully normalcy.

I do not berate so called 1%, you’ve worked hard to get where you are; what I have an issue with is the greed that come’s with it and the complete lack of humanism, I mean lay off 10,000 people and collect a ten million bonus, common, most of you hopefully get what I am trying to say!

Who in Canada ever laid off ten thousand and received a $10 million bonus? Oh, I see. You made that up. Actually a large whack of our 1%ers are the doctors who keep us alive. — Garth

#45 Nemesis on 01.29.17 at 5:23 pm

#”TheShapeOfThingsToCome”,Or… #Britain’sNHS… #HealthCareForTheRest… #ÀlaCarteForThe’Best’…

[DailyExpress] – ‘STUPID and INSANE’ Bankrupt NHS cannot afford to run 24/7 service, doctors warn

http://www.express.co.uk/news/uk/633520/NHS-cannot-afford-weekend-24-7-service-doctors-warn

[Telegraph] – A&E crisis deepens with 65 hospital trusts issuing emergency alerts

http://www.telegraph.co.uk/news/2017/01/13/ae-crisis-deepens-58-hospital-trusts-issuing-emergency-alerts/

[Guardian] – NHS in crisis as cancer operations cancelled due to lack of beds

https://www.theguardian.com/society/2017/jan/14/health-service-in-crisis-cancer-ops-cancelled-nhs

#46 Foreign Capital in Victoria on 01.29.17 at 5:25 pm

Oh how ill informed Miss VREU is….

Over a year ago, I warned of the plague of foreign capital in Vancouver and its domino effect – where Vancouver buyers cash out, move to the Island, Interior and Fraser Valley and bid up prices. Foreign capital was also mimicking that route and buying RE in those places.

I told of the changed demographics in Victoria and glut of high end sports and luxury cars that were absent a year ago. As someone that fled the Vancouver market several years ago due to the painfully obvious impact of foreign capital, I have seen first hand what precedes the rise in prices. And guess what – its here in Victoria and it sound like its in TO.

Prices are just up and up and up in little old Victoria and the surrounding communities – over 20% in a multi-year stagnant market. BMO now confirms that it is foreign buyers driving up prices….

Of course, I pointed that out it Miss VREU who cited old 2015 foreign buyer data that only 0.68% of buyers were foreign. I said what until you see the 2016 numbers – and not to my surprise – foreign buyers are now 4.5%.

Any correlation between a massive jump in then number of foreign buyers and a 20% price gain? Was it that locals just realized that there were low interest rates? Was it a surge in jobs and average income in a government town with a smattering of tech and service jobs?

The data is now out and time to take your head out of the sand VREU. And declining sales do not mean anything – there is NO inventory to make a sale – hence declining sales…

Odd, how quiet VREU has become with her ‘the crash is around the corner’ meme. Maybe she left her parents basement and looked at what was actually happening…

Looks like its time to extend the foreign buyers tax throughout the province…

http://www.canadianrealestatemagazine.ca/news/bmo-overseas-buyers-mainly-responsible-for-toronto-victoria-price-growth-220279.aspx

#47 JSS on 01.29.17 at 5:27 pm

But everybody looks rich. What gives?

#48 TurnerNation on 01.29.17 at 5:28 pm

Our hipster could have retorted: “Don’t worry the metal one means you’ll get felt up more at airport security. I think you like it.”

But today’s example of bullying is klassic Kanadian Kommunism: if you’re caught taking more than your
meger rations this’ll get reported to the local prefecture Block Captain.

#49 palebird on 01.29.17 at 5:28 pm

#3 re “Massive protests again today in Washington and across the USA.”

Really??Massive?? Define massive.. as bad as CNN

#50 Guillaume on 01.29.17 at 5:37 pm

Hi Garth,
Sorry but I think you are dead wrong on this point as the only ones I hear bitching about the 1%er are more likely to be public unionized workers voting NDP or Liberal with more than average wage and a workload lower than average ….. As a small rural retailer/entrepreneur/deplorable making 80 k/year (but giving job to three people in a place where job is more than rare) I have much respect for a guy like Brad ! don’t full yourself, Face Prune and her daughter are probably people that wouldn’t vote for anybody…

#51 Pete from St. Cesaire on 01.29.17 at 5:39 pm

And the anti-wealth, anti-success meme is exactly what helped push a person like Donald Trump into the White House
———————————–
Not quite Garth, Trump supporters don’t oppose people striving to make a good life for themselves, they oppose corrupt elites micromanaging their (Trump supporters) lives with suffocating restrictions and taxes while exempting themselves from things like Obamacare.
I don’t know any Trump supporters who are anti-wealth or anti-success; such people would be Hillary supporters. Those would be the same people you mention who have no problem with their favourite celebrity making $100 million but hate their doctor neighbour with his Mercedes.

Americans have ‘suffocating’ taxes? That’s a gas. — Garth

#52 Digby Ditherman on 01.29.17 at 5:48 pm

Since when do hospitals take their cue from used car salesman … and jack up the options sales pitch at the point of closing … err … should is say stitching?

Bad form on the part of the nurse.

You can’t mix angry mental flossed patients with sane hard working ones and expect everyone to keep pretending to be happy.

A “Bad” on the Hospitals’ poor bed-pan management style.

#53 Dan.t on 01.29.17 at 5:48 pm

I think the 99% feel let down by their elected leaders. That is why Trump won! Just look at the policies in Canada last 10-12 years.

I can’t provide links but it’s been touched on here, selling out Canada to rich (Quebec immigration loophole- if you have enough money, buy a Canadian citizenship) BC politicians corrupt like none other, selling out BC (Vancouver) to China and Gov of Canada policies to encourage a gasbag housing bubble- zero down 40 year mortgages- virtually free money to whoever wanted a massive mortgage backed by taxpayers- no risk to banks.

Why save money when bank gives savers zip and policies reward reckless borrowing and massive debt- seems to have worked out the best. Leverage yourself to the max and let rising housing prices saves us all.

Now cost of living is outrages due mainly to housing sickness- (speculation encouraged by all the real estate sponsored news and house flipping HGTV programs promising an easy 100k+ profit for painting a few walls in the kitchen and bought hook line and sinker by the majority of Canadians. There is a whole country who seems to believe only one thing. Won’t even touch on foreign (legal and illegal money buying real estate.

Now add in #6 moneydriven’s and #7 I’m stupid’s and you have a lot of people who are angry and ready for change- any kind of change.

#54 Piet on 01.29.17 at 5:51 pm

@#7 I’m Stupid

Best wishes for your fertility quest.

My wife and I initially had difficulties similar to what you have descrbed. There were a few years when we were on the move, renting our accommodation and jockeying for better employment. Eventually I found a reasonably stable job in a location we liked. After renting an apartment in this new city for about half a year we purchased a SFH. My wife’s first pregnancy dates back virtually to the date we made the home purchase. Or first child was born a few months after we took possession, and the second was born two years later. It’s interesting that after several years of trying, our first child was conceived at exactly the time when a stable residence became available. This leads me to conclude that reproductive success is related to having a safe nest.

#55 DT on 01.29.17 at 5:51 pm

A de facto Muslim ban??

Did this blog get taken over by CNN? Maybe George Soros is sponsoring it?

1. The list of 7 countries was created by the Obama administration and flagged as countries from which terrorists may enter the US. That was by Obama as late as Feb 2016. I don’t remember any outrage at that time by this blig’s bloggers. The only reason to bring it up now is if this blog is making knee-jerk reactions to fake news.

2. 46 Muslim-majority nations aren’t included in the ruling. For example, just one of those 46 countries (Indonesia) has 209m Muslims, dwarfing the Muslim population of any of the 7 countries.

This is not a “de facto Muslim ban” by any stretch of the imagination. This site it trying to incite hatred.

Fake news is fake news. If you don’t have time to fact check then don’t write it!

Did Obama ban immigrants and refugees from seven Muslim countries? Nope, didn’t think so. This is Trump being Trump. A racist and religious bigot, as he proudly declared as a candidate. — Garth

#56 Tony on 01.29.17 at 5:54 pm

Re: #4 Centre Wing on 01.29.17 at 3:30 pm

You couldn’t afford the tax.

#57 Mark on 01.29.17 at 5:56 pm

“Fleecing the productive is a sure way to make the productive disappear or at least foster the parasitic mindset to steal, lie, coerce and destroy. Taxed on the money you earn, then taxed on savings, taxed on investments, taxed on tax.”

But what if the ‘rich’ in Canada only got that way by fleecing the productive? Is it bad to fleece the fleecers? That’s the problem with the contemporary system — you have a lot of non-producers making extravagant sums of money, particularly in the financial system and in public service of various forms including certain medical professions. While many very productive people have their lifestyles suppressed by being forced to pay for it all involuntarily.

Is it so bad to apply taxes to those who “earn” most of their money through either government-enforced monopolies, or through government subsidy? I personally don’t think so. The better solution is to create a much freer market, so that excessively abnormal returns to certain types of labour will eventually find market forces reducing those returns to something more normal. But until then, we’re stuck with the system of progressive taxation.

Perhaps there should be 2 sets of tax tables. One for those who derive their income through truly private sector, non-subsidized activity. And those who are somehow sucking on the teat of government or who work for a government-protected monopoly.

#58 InvestorsFriend on 01.29.17 at 5:57 pm

Wealth Tax?

8 Anne on 01.29.17 at 3:46 pm said:

Perhaps we should focus more on taxing wealth. Some people in Vancouver have made millions on real estate the last few years. Why should they pay no tax while working people pay the price through both taxes and increased housing costs resulting from speculation.

**********************************
Agreed as there is another 1% those in the top 1% of wealth but that have low incomes and pay little tax.

You can amass huge wealth and pay no tax on it. At some point that may need to be addressed.

Governments need revenue and the issue to focus on here is fairness.

#59 bill on 01.29.17 at 6:00 pm

#36 crowdedelevatorfartz on 01.29.17 at 5:00 pm
I think he means tequila with the worm in it….

#60 John on 01.29.17 at 6:00 pm

Futures are heading lower. Fasten your seatbelts. Early start for the marketeers heading into Monday? Maybe even all nighters. Quite unsettling vibes heading north.
As Garth has opined about the hormonal house debt gene pool, well we could also find that a Dow of 20,000 is loaded with hormonal margin debt, too. Monday cometh and time waits for no one.

The Trump effect. In reverse. When his true colours start to emerge. — Garth

#61 TurnerNation on 01.29.17 at 6:01 pm

Yikes my earlier comment wasn’t far off the mark.
A quick google search revealed this description of Cuban life:

“1) the communist block captain has the right to inspect any home at any time. Homes actually have an inspected card on the door very similar to what you see in gas station washrooms.

2) cubans have a ration card for virtually all the food they eat. If they have children, they are blessed to get a small ration of milk. All Cubans eat the same diet all the time….”

#62 TheUnhealthy on 01.29.17 at 6:08 pm

Love it! Fantastic write-up today!

Education-wise, I’ve been nearsighted for as long as I can remember. Part-time(holy hyphens, Batman!) studies have made me realize how much time, effort and sacrifice it takes to become the 1%.
For the time being, I’m choosing to be on the cusp of poverty so that I can spend as much time with my little one as possible. In my case, I can’t imagine how much that would hurt to spend all day/night working and studying. YOLO to me doesn’t mean skydiving and Porsche Cayennes.

You’ve said it before, Garth. If you want it, go get it. Spending time whining about the 1% in the comment section only further distances yourself from becoming part of it. I can hear the moans already. “But I’m not greedy enough to get to that point financially.”
My argument. Make the money and donate your excess to charity. Get the education and use it to efficiently help those in less fortunate circumstances.

I’m so thankful that my Doctors are paid accordingly and wonder if it’s a good idea to punish hard working, intelligent people disproportionately? Last time I checked, 25%(random figure) of 200k is still more than 25% of 50k.

#63 AB Boxster on 01.29.17 at 6:09 pm

The example provided can also provide some context on the concept of equality of opportunity vs. the equality of outcome.

In the example, Brad has the opportunity to upgrade his ceramic implant for the extra fee. Yet, I would think that every one of the other patients has the same opportunity to do so, if they so choose.

So while in the example, the outcome may be that not all of the patients have the same type of implant, the reality is that each of the patients has the same opportunity to have the same type of implants.

For years classical liberalism and western society has fought for the importance of the equality of opportunity.

The social justice world, including our venerable PM, is fixated on creating equality of outcome.
That is why it is so important for them to have equal representation of men and women on boards of directors, or in the stem sciences, or in federal cabinet, rather than ensuring that the best candidate for the job is rewarded, regardless of race or sex.

For them the world is not fair until equality of outcomes are achieved, which is essentially impossible.

And the citizenry take note and believe that if they do not have the same outcome as everyone else, that they are being discriminated against, or held back, or unjustly treated, and act they according to drag down the successful.

Ain’t socialism grand.

#64 acdel on 01.29.17 at 6:12 pm

Who in Canada ever laid off ten thousand and received a $10 million bonus? Oh, I see. You made that up. Actually a large whack of our 1%ers are the doctors who keep us alive. — Garth

My mistake by not clarifying my point better , not referring completely to Canada, my point is that it happened many times in the past; Google it! Try and understand why this is happening, hundreds of millions of people if not more are voting the way they are for a reason. It is foolish to write them off!

If they believe what you wrote, they’re fools who deserve the outcome they will get. This instance has never occurred in Canada. — Garth

#65 Timmy on 01.29.17 at 6:21 pm

I don’t think people have a problem with those earning more if they have degrees, credentials and experience, but most of us know that the huge gap between a CEO and even someone in middle management is excessive. CEOs earning 6-10 times what a middle manager makes in Canada, and we all know they aren’t 6 times a bright–just look at how many problems many businesses have.

#66 acdel on 01.29.17 at 6:25 pm

Hey Garth, what about these that happened in Canada??

https://www.thestar.com/business/2015/11/26/postmedia-paid-1-million-in-bonuses-as-it-slashed-jobs.html

http://www.huffingtonpost.ca/2015/12/08/bank-bonuses-canada_n_8751162.html

http://www.macleans.ca/economy/business/isnt-there-a-rule-against-outrageous-bonuses/

I can go on and on and on !!!

#67 AB Boxster on 01.29.17 at 6:26 pm


Did Obama ban immigrants and refugees from seven Muslim countries?
-Garth

————————————————-
No, but Obama did the suspend refugee program for Iraq for 6 months in 2011. Where was the outrage then?

And does the fact that there are over 51 Muslim countries in the world, and that Trump has put a 90 day ban on the 7 worst of these, as agreed by congress and Obama, describe a religiously intolerant policy?

The recent ban is a pretty poor example for your comments on Trump.

The world is expressing its dismay at the rolling back of American values. — Garth

#68 Free bird on 01.29.17 at 6:28 pm

#40 matman

…my question however is how everyone can afford these wonderful houses, german luxury imported cars, Everything Isomething, Canada moose jackets etc. The reality is they can’t…It is my experience in life that those who are truly wealthy don’t feel the need to show it.
———–

Agree 100%. I’ve heard the whining when the unprepared have to pay for unexpected (read life life happens expenses) but happily talked about the new TV, man cave, etc while little to no funds were put away for the stuff that happens. They don’t make the connection with wants vs real needs. Why replace a window, fix the HVAC and or save money to replace old appliances when you can reno a room (or two)? BTW our dads had similar theories.

#69 Financial Samurai on 01.29.17 at 6:30 pm

Oh how I love this topic and I love the store is in this post. There is a huge uprising in the United States, which is why I am a huge proponent of stealth wealth.

Live richly, but act poorly and show poorly. There is no upside to showing off your wealth. I don’t get what’s up with these kids were just bragging all day long on social media about how much they have. They do realize they are going to suffer by some jealous person right? Especially the kids did nothing to deserve their wealth.

It’ll be interesting to see what the stock market does in light of all this uncertainty. When the band was announced, stock market broke to new highs. Maybe were all evil in the United States.

Sam

#70 Rook on 01.29.17 at 6:31 pm

Totally get it Garth, no arguing there is a hate on for inequality these days that gets unfairly thrown at anyone wealthy. But I do think people often think their hard work, and only their hard work is what got them to where they are today. My father in law is hands down the hardest worker I have ever met, at work, and at home. He’s disabled and a proud janitor at a high school.
Maybe if more of the wealthy and powerful would have some humility and take care of the poor and vulnerable more, wealth be would looked upon as prestige again. With wealth becomes great responsibility? I dunno, something like that.
This comic does such a good job at what society really truly has become with such a divide. I am not saying wealth is undeserving, just sometimes so damn proud. Honestly, take a minute to read it. Lots to think about.

https://brightside.me/article/what-you-should-think-about-before-you-judge-others-10155/

Or you can go hang out with this wise and selfless leader:

https://m.youtube.com/watch?v=0Bsh2385xCY

#71 Wrong on 01.29.17 at 6:31 pm

#1

2735 West 8th sold for 1.6288 million.

But you’re missing the fact it’s classed as heritage C – it can’t be knocked down, hence the low sale price.

#72 Goody Niosi on 01.29.17 at 6:31 pm

Sorry – the “poor” mother and daughter are right. The health care system was set up to treat everyone equally, not to allow rich people to upgrade. We all pay the same premiums (if we live in BC) and we should have the same access.

#73 BG on 01.29.17 at 6:32 pm

“the anti-wealth, anti-success meme is exactly what helped push a person like Donald Trump into the White House”

This might be true for Trudeau, but I don’t think this is true at all for Trump.

#74 WUL on 01.29.17 at 6:33 pm

Some green shoots for AB’s economy. Small but in the right direction.

– some rigs on the move;

– Precision Drilling hires 1000;

– orders showing up at Nisku machine shops;

– enrolment in the driller’s safety courses increased; and

Cowtown real estate:

Y/Y Dec detached single family home sales up 7%. Jan up 23%. Listings both new and active,a precipitous drop.

Alberta Spring. Fingers crossed.

#75 Atlus Shrugged on 01.29.17 at 6:36 pm

Brad,
Book, Atlus Shrugged by Ayn Rand speaks beautifully about this.

#76 Andrew Woburn on 01.29.17 at 6:38 pm

Apparently Orwell’s “1984” is suddenly a popular read, but Huxley’s “Brave New World” might be a lot closer to the mark.

“What Orwell feared were those who would ban books. What Huxley feared was that there would be no reason to ban a book, for there would be no one who wanted to read one. Orwell feared those who would deprive us of information. Huxley feared those who would give us so much that we would be reduced to passivity and egotism.

http://www.goodreads.com/quotes/7942005-what-orwell-feared-were-those-who-would-ban-books-what

#77 Global Golfer on 01.29.17 at 6:39 pm

#6 moneydriven

You’re right. Times have changed. A post-secondary education doesn’t guarantee a high paying salary…never did. Nowadays, the odds are more against you but without the degree, the odds drop even further. Very important to find the right degree for future employment. Then, hope for a break.

Two parents working to make ends meet. That’s what mine did and they made enough money to retire and pay their way (now into late 80’s). They never had great jobs but they always worked and they always saved. If they couldn’t afford it, they went without. Today, we simply expect an upper middle class life without the sacrifices that our parents made to get their. Sure, different times…but the mindset is what’s important. The goal isn’t for everyone to be in the 1%. It can’t be as the number would simply move higher. The goal is a happy family life and a secure retirement.

I expect people to be unhappy that they don’t get the luxury health care that some can afford. They also can’t afford the houses that rich people have or the cars or the travel or… Be happy that we live in Canada where there is health care. My wife is from Thailand and they have nothing. You want surgery, pay for it. Sell your house if you need to. And there are worse places that that. Grumble about your inferior hip replacement wrappings. All Canadians are in the 1% of the world. They don’t even get the hip replacement are live in pain, unable to move.

#78 Fortune500 on 01.29.17 at 6:41 pm

#7 I hear you and feel your pain. This is a hard road to travel and you will often feel alone. This is one of the last taboos in our society that you seem to have to suffer silently. Many wont understand and many wont give you the support you need.

We tried unsuccessfuly for 5 years and it was mainly unexplained. One thing that always got me was the cost differences for IVF between different countries. Anyways, take a look at travel tourism options. We now have 3 of our own through IVF but paid a fraction of what it would have cost in North America.

Best of luck on your journey. It will be hard at times, but keep the faith and treat it like a marathon. There are others out there silently going through the same.

#79 NigelM on 01.29.17 at 6:44 pm

This article hits the nail on the head! The world has been dumbed down to the point where anybody who has made a success of themselves is deemed to have wronged others or sold their soul. People need to take responsibility for their own path in life and quit finding blame in others. Canada is full of financially illerate people who don’t know how to save and make ends meet with consumer debt. They have no plan, have their heads in the sand and make assumptions about everyone else who ‘cheated’ their way to the top of their field. Amen brutha!

#80 Free bird on 01.29.17 at 6:46 pm

#32 cici
Granted, some businesses are poorly run, but in most cases, small-to-medium business owners care about their companies and workers, and do their best to run them as efficiently and productively as possible, because not doing so will negatively affect their own bottom line. Ditto in terms of being able to attract and retain highly skilled and dedicated workers.
——————–
As sml biz owners for over two decades I can say you’re comment is very true for us. Like many we worked hard and sacrificed. We definitely made our share of mistakes (some more costly then others) but we learned (still are). My mom and dad ran a small biz for over 40 yrs and lucky to sell. Again like many I was lucky to see what the work and the rewards. They nor we are 1%r’s but we’re doing well considering the bumps and have a a growing loyal staff. Our motto was always people first. We also have a pool table. LOL

Thank you for your comment. Sometimes the snaller biz owners get forgotten or overshadowed by the big news makers on BNN.

#81 Andrew Woburn on 01.29.17 at 6:49 pm

It was mentioned a couple of days ago that house prices in Nanaimo were sliding a little. I commented that this didn’t seem to be happening yet for more upscale properties. Here are two recent sales. Bear in mind that the assessments are based on July 2016 that may have been a peak point in Vancouver. Also note that bidding wars seem to be rare here.

5661 MALIBU TERRACE MLS® 418402
Assessment $454,000 (2017)
Current Price $569,900
Sale Price $611,111
Date Sold Jan 11/17

6414 PORTSMOUTH ROAD MLS® 415745
Assessment $502,000 (2017)
Current Price $609,000
Sale Price $600,000
Date Sold Jan 10/17

#82 acdel on 01.29.17 at 6:51 pm

#75 NigelM

What a naive statement!

Ask the entrepreneurs in Ontario how they feel about high hydro and taxes etc; did they ask for this???? Were they creating jobs and lost their business’s because of stupid political decisions?? Could they afford to move?? If they moved to Mexico to survive is that a crime??

#83 bigtowne on 01.29.17 at 6:54 pm

What was not mentioned in this medical factoid is the dumbing down of our public health care single payer system due to the inability to do what every other responsible country in the world does: have a private insurance and a public tax funded system.

Knocking the wealthy or using them as a scapegoat for our mediocre; underperforming; and underwhelming public health care regime is just the symptom not the disease and misdiagnosing and mischaracterization of our decrepit Soviet style central planning will go the way of the Soviet regime…patience required by the patient.

#84 BREAKING NEWS on 01.29.17 at 7:05 pm

BC Liberals just effectively axed the 15% foreign buyer tax effective immediately.

At a time of record low inventory.

2017 Vancouver prices up by 50%.

#85 AB Boxster on 01.29.17 at 7:06 pm

The world is expressing its dismay at the rolling back of American values. — Garth

———————————————
As is their right.

But the world is a pretty bad cesspool of values right now.
This is a world that spends most of its time blaming Israel for everything bad in the middle east, while every other authoritarian country is a bloody mess.

Where there are 16 countries that forbid admission to Jewish pasport holders. -All Muslim (That’s actual religious bigotry) But it’s not important, they’re just Jews. Still waiting for this moral outrage.

Yet as the white house says:

“The United States admits, from the Muslim majority countries of the world, more people every year than any other country on earth that is not itself a member of that region,” a senior official explained to reporters at the White House on Saturday, adding that “the notion that this is a Muslim ban is ludicrous.”

The hipocrisy of the left is atrocious.

If the US needs to retrench (either economically or socially) in order to come out as a stronger, more secure nation, then so be it.

#86 Gentle ,Loving Kindness on 01.29.17 at 7:07 pm

#7 I’m stupid on 01.29.17 at 3:45 pm
That just makes me sick! My wife and I have been trying to have a child for almost a year. It’s been the most stressful year of my life. We’ve gone to a fertility clinc and did all the test. We’re both fine, but they don’t know why we haven’t conceived
——————–
Stress can contribute to infertility. It’s ironic in some respects, because failure to conceive, when you have told you are “fine” creates stress, and stress contributes to the “problem” My wife and I have been visiting a Buddhist Temple for the guided meditation sessions. I highly recommend it. Evidence is emerging that meditation promotes the ‘Relaxation Response” in the body, and this can counter, perhaps reverse some of the damage created by chronic stress. There are many U-Tube sites that conduct guided meditations, give it a try.
http://www.parents.com/getting-pregnant/fertility/boost/fertility-conditions-stress-and-fertility/

This is not a fertility blog. Yet. — Garth

#87 Doug t on 01.29.17 at 7:08 pm

Yup my relatives in the states voted Trump to keep that bag of flesh Clinton out – same reason I voted T2 (first time voting in 25 years will not again) to keep satan out.

#88 Debtslavecreator on 01.29.17 at 7:09 pm

No amount of tax will ever help the crooks
Left wing politics is based on envy, coercion, extortion and violence
We are living in a nation run by radical left wing types who deceptively call themselves liberals and progressive conservatives and New Democrats
When the inevitable happens because the greatest debt based Ponzi scheme collapses then you will see the real action
We are a nation of left wing fake education and fake news followers
RIP socialism
Please die as fast as possible

#89 Leo Trollstoy on 01.29.17 at 7:13 pm

People hate the rich. This isn’t news.

Troll them. Life is more enjoyable that way.

#90 For those about to flop... on 01.29.17 at 7:14 pm

#71 Wrong on 01.29.17 at 6:31 pm
#1

2735 West 8th sold for 1.6288 million.

But you’re missing the fact it’s classed as heritage C – it can’t be knocked down, hence the low sale price.

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

I made no mention of knocking it down ,only the difference between the assessment and the sold price.

If you tell me which Re-max office you work at I will send you some flowers for the inconvenience of allowing me to spread the truth…

M42BC

#91 Figmund Sreud on 01.29.17 at 7:15 pm

Please permit me, a bit different spin here on who the one percenters may just be: … this based on one’s net worth instead on yearly income earnings ( … sorry, data from 2015, but should suffice):


High net worth: those with US$1 million to US$5 million of investable assets – not including the primary residence and other hard assets like cars or jewelry. Canada has roughly 298,000 individuals in this category – a little less than one per cent of the population.

Mid-tier millionaires: those with US$5 million to US$30 million of investable assets. Canada has roughly 30,000 in this category – a little less than 0.1 per cent of the population.

Ultra-high net worth: those with over US$30 million of investable assets. Canada has roughly 3,300 in this category – about .01 per cent of the population.

I’m not sure how much all these evil elites pay in taxes, annually … but I suspect those with US$1 million to US$5 million of investable assets don’t pay much more than, … say, 5 to 30 percent of what their investments earn per year – that is if they elect to cash at least some of their capital gains, to begin with. No?

F.S. – Comox, BC.

#92 Metaxa on 01.29.17 at 7:15 pm

Some random thoughts:

Canada’s universal, single payer medical system, thought up by a CCFer and brought into play by a conservative government, was never expected to bring 100% of citizens the absolute latest and greatest…it was hoped that you wouldn’t lose the farm or your house if a medical situation developed beyond a simple cold or flu. Upgrades have always been available, I remember paying extra for a coloured fiberglass casting when one of my spawn broke an arm.

Poor Brad, made to feel so uncomfortable in what he’d hoped was a safe space that he had to whinge about it to Garth, who commiserates. What First World Problems, lets dump on the slobs who made Brad uncomfortable everyone. Brad works hard for the money, eh? The true wealthy that I know do not complain, explain or exclaim in public. Do your business be it charity or donations or work and do it quietly.

The only reason to look into another person’s bowl is to make sure he has enough in it. Louis CK.

And, #7 I’m Stupid, as the male parent of 5 I could send you some seeds in the mail if you’d like. Apparently I have Olympic class swimmers. Be a good looking kid too.

#93 Randy on 01.29.17 at 7:15 pm

DELETED

#94 Chico on 01.29.17 at 7:19 pm

#65 Timmy on 01.29.17 at 6:21 pm

I don’t think people have a problem with those earning more if they have degrees, credentials and experience, but most of us know that the huge gap between a CEO and even someone in middle management is excessive. CEOs earning 6-10 times what a middle manager makes in Canada, and we all know they aren’t 6 times a bright–just look at how many problems many businesses have.

___ ____

That line of reasoning has been around for a very long time, this idea that the CEO’s shouldn’t get so much more money than middle management. About 15 or 20 years ago, the founders of Ben and Jerry’s tried to find a CEO who they could pay a more modest, reasonable sum to run their large company. In the article I read, they regrettably couldn’t. This company was/is a socially conscious enterprise who are very proactive in business reform and community involvement.

In a sports comparison, is it fair that the top flight hockey players make 7 – 15 times as much money as the fourth liners on the same team? 4th liners make 6-7 hundred grand, top flight players make 6-10 million.

The fourth liners aren’t much better than players in the AHL, but the minor league player make about 70-100 thousand.

What people like you are asking for is a system that isn’t based on results, just things like degrees, seniority, etc.

Assuming successful leaders aren’t any brighter than the middle management guys is mere guessing. You and I aren’t shadowing them around to know such things.

They get paid those salaries for results. If the middle management guys could produce those results, they would. People aren’t promoted from middle management because they’re smart, they’re promoted because they get results.

#95 Marcus on 01.29.17 at 7:24 pm

DELETED

#96 Linda on 01.29.17 at 7:28 pm

I do feel for Brad. Unfortunately the ‘rich vs. the rest’ meme has been successfully used to divert the attention of the masses for millennia. In Canada, where health care is not supposed to be a two tier system anyone who can jump to the head of the line or get a higher quality of care by paying for it is unfortunately a target. What most don’t know (or care) about is the true cost of providing the highest level of care for all. It is way beyond the billions poured into our health care system, for the demand is infinite & the resources limited in nature. One of the dirty little secrets of our society is that those who can afford it head south for hip replacements, knee surgery, cataract surgery etc. because they can afford to pay for immediate treatment. Instead of resenting that fact, those who can’t afford to do the same might consider it a self imposed tax that the better off pay, because our health care system does not pick up the tab. Yet those self same people still pay taxes which allows the rest to continue to get health care, albeit not as quickly or as conveniently. One might also consider that the benefits of queue jumping allow more resources to be made available to the rest, because the service is usually procured outside of Canada or at for profit medical centers within Canada. Add in that if those people are healthy it costs our society less to take care of them. I for one may be paying for cataract surgery rather than waiting until my sight is ‘bad’ enough to qualify me for a place in line. Be grateful that I care enough about my own quality of life that it might as a side effect improve yours, if for no other reason than it might allow me to see you when I’m behind the wheel…..

#97 acdel on 01.29.17 at 7:30 pm

#82 Leo Trollstoy

You are so wrong; people do not hate the rich, most of us admire them, they create jobs, but they do not pay there fair share of taxes (workers do) Warren Buffet can’t be wrong!!

http://money.cnn.com/2013/03/04/news/economy/buffett-secretary-taxes/

Don’t get me wrong, love them, but let’s be fair about it!

Buffet does not pay taxes in Canada. The 1%ers here have a marginal rate above 5o%. Seems plenty enough. — Garth

#98 conan on 01.29.17 at 7:32 pm

Probably more then a few innocent immigrants sitting in US jails right now wondering whether the executive order to allow torture was passed or not.

This is a sad state of affairs. Talk about a bad way to bring in such a bill. You need to give notice on stuff like this. To not give notice is a flashing red light to me.

Nut-bar alert.

#99 Doug t on 01.29.17 at 7:34 pm

What the world is experiencing is information overload. We are inundated continuously with stories of the “rich and famous” on the web – They feed it to the masses and we swallow the sh*t. We are constantly being exposed to the lifestyles of the 1% via online sites. It wasn’t this apparent before the Internet – but now we are getting extremely angry and pissed right off due to the high level of exposure to these people. It’s not even interesting – it just makes the average person jealous, depressed and more miserable with their “average” life. I don’t give a rats ass about the Kardashians but boy that kind of material is everywhere. Prior to the Internet exposure was limited to tv and magazines mostly but since the advent of the web the overload of BS constantly streams into your mind – and after a certain limit it becomes like brainwashing. The masses are angrier, more depressed, anxious, have lower self esteem and carry a sense of hopelessness that are at record levels. This climate of “hate the rich” is a byproduct of the technology that has transformed the way we communicate and receive information. The gun was an incredible invention but it’s history is a story rife with blood – the Internet is young -it’s history is still unfolding but so far the impact has been perhaps bigger than the gun. Word

#100 NoName on 01.29.17 at 7:35 pm

#75 Atlus Shrugged on 01.29.17 at 6:36 pm

wasn’t she the one against collectivism until she needed a lungs surgery, than collectivisam is ok because she paid in it… but funny thing she lied and use “fake” name to collect assistance. integrity funny word that is.

An interview with Evva Pryror, a social worker and consultant to Miss Rand’s law firm of Ernst, Cane, Gitlin and Winick verified that on Miss Rand’s behalf she secured Rand’s Social Security and Medicare payments which Ayn received under the name of Ann O’Connor (husband Frank O’Connor).
As Pryor said, “Doctors cost a lot more money than books earn and she could be totally wiped out” without the aid of these two government programs. Ayn took the bail out even though Ayn “despised government interference and felt that people should and could live independently… She didn’t feel that an individual should take help.”

But alas she did and said it was wrong for everyone else to do so.

http://boingboing.net/2011/01/28/ayn-rand-took-govern.html

—-

“And what, incidentally, do you think integrity is? The ability not to pick a watch out of your neighbor’s pocket? No, it’s not as easy as that. If that were all, I’d say ninety-five percent of humanity were honest, upright men. Only, as you can see, they aren’t. Integrity is the ability to stand by an idea.”

Ayn Rand, The Fountainhead

#101 westcdn on 01.29.17 at 7:35 pm

Garth, a welcome contrary analysis of the elites I often malign. I am fond of saying the truth lies between two points of view.

I found this US article that supports your point of view regarding income to define elites. http://www.nationalreview.com/article/368869/working-rich-kevin-d-williamson

I define elites by wealth hence our different viewpoints. I believe you find a much higher incidence of privilege and arrogance as well as inheritance. My defined elites are far more committed to maintaining control and hiring the required people to make it so. This article supports my viewpoint that I had powerful headwinds to push against. This is the status quo I push against and a major reason Trump won the election besides the anyone but Hillary group.
http://inequality.org/wealthy-parents-inherited-advantage-declining-mobility/

I don’t think O’Leary can win the Federal election. First, Canadians will realize he is a salesman out to make a buck for himself. Ask Mattel about the purchase of The Learning Company from Kevin. Ask investors about the O’Leary funds. Think about his comment that he is a media entertainer who spends most of his recent time in Boston. Read the Wikipedia account of him.

Second, Kevin is bald. Sad but true. I don’t think his persona can overcome this flaw.

#102 Joe2.0 on 01.29.17 at 7:37 pm

Try sneaking into MX as an illegal.
You go straight to jail if you can’t buy someone off.
Immigrating into a foreign countries a privilege not a purrogitive.
If your in a country illegally or have criminal intent then it’s illegal for which there are consequences.
Do the crime do the time.
Cry babies.

#103 acdel on 01.29.17 at 7:39 pm

Buffet does not pay taxes in Canada. The 1%ers here have a marginal rate above 5o%. Seems plenty enough. — Garth

Man Garth, you are one cranky dude tonight, as mentioned before I am “NOT” referring solely to Canada; I guess it is not getting through; my point is why the “Western World is Pissed”, ok, enough for me this evening; we agree to disagree; but I do love your blog, thanks.

#104 Linda on 01.29.17 at 7:44 pm

For all that Mr. Trump castigates the media, he does seem to have a certain need to be front & centre news. As for the latest policy – when did the USA decide to emulate the behavior of all the worst political regimes it has spent decades decrying? One wonders how soon it will be before people are disappearing off the streets – the current POTUS has actually proclaimed ‘torture works’. How did that quote go again? ‘First they came for the Communists & I did not speak up because I was not a Communist; then they came for the trade unionists & I did not speak up because I was not a trade unionist; then they came for the Jews & I did not speak up because I was not a Jew. Then they came for me & there was no one left to speak for me’.

#105 conan on 01.29.17 at 7:46 pm

#101 westcdn on 01.29.17 at 7:35 pm

Third, Kevin is a Liberal pretending to be a Conservative.

#106 For those about to flop... on 01.29.17 at 7:47 pm

By the way you might want to look at these guys and tell me if in your professional opinion are these guys are hooped or really hooped?

Only time will tell.

Right now for a lot of properties in the GVA,the final sale price if the homeowner needs to sell is closer to the 2015 assessment not 2016.

I am trying to be fair about this,that is the reason I wrote Garth off-blog and asked him to remove my post at # 27 as I found some contradictory evidence.

One thing I wrote in that post is that I am more trying to document the average house in the average neighborhood rather than the luxury market as most people recognize this is where the real pain will be felt.

As I noted in that post ,I work on properties that sell for more than $10 million and although they sell way less than the asking price are still considered successful developments.

I knew when I started the document this downward trend in the market I was going to attract some unwanted attention,but I decided to do it anyway.

It’s o.k to say the market is down by 25% and such…it sounds so sexy, but what I am trying to do is one house at a time break down the market and show real time examples of what’s going on.

Mistakes will be made during this process as a lot of information can be contradictory trying to do it before the sale is entered into the public database.

I am trying to educate myself about the market and at the same time and if I save one person from financial disaster then I will be happy.

I am as dumb as a box of hammers…but I have a big heart…

M42BC

6236 Summit Avenue, West Vancouver

Oct 26:$1,688,000
Jan 29: $1,649,000
Change: – 39000.00 -2%

https://evaluebc.bcassessment.ca/Property.aspx?_oa=QTAwMDAyOTBFQg==

19930 55a Ave Langley

Dec 2:$799,888
Jan 29: $699,000
Change: – 100888.00

https://evaluebc.bcassessment.ca/Property.aspx?_oa=QTAwMDBGNDU0MQ==

#107 Sam the Sham on 01.29.17 at 7:49 pm

One of the greatest benefits Canadians receive bar none is our universal health care system. Everyone gets the same quality of care. We are blessed. It is actually a miracle we have it. It wouldn’t be possible to implement today. There are forces attempting to undermine our system. This is exemplified by Brad’s rant.
No Brad, just because people object to the creeping implementation of a two tired health care system doesn’t mean that people are resentful of the wealth you’re created. Enjoy your wealth. Buy a fifty foot yacht or a Ferrari or whatever you heart desires nobody will object or be resentful. But Brad don’t expect to be able to buy better health care for yourself in Canada, that we will object to!

#108 Hairhead on 01.29.17 at 7:51 pm

I’ve gone through the comments here, and I find more 1%-ers hating the 99% than the other way around. Time and time again, commenters, including investors, managers, and business owners on this blog post their contempt, anger, and hatred of the 99%, in particular union members, government workers, and anyone who disagrees with them in the slightest. (Not you, Garth.) “Lefty” and “Communist” are the milder of the many epithets thrown around here.

Many of the wealthy seem to be sooo sensitive and sooo self-centred. But it’s not about you.

To the guy who’s getting a hip replacement; Prune face (as you contemptuously referred to her) doesn’t hate you — she’s in pain and she wants her new hip as quickly as possible; she doesn’t hate you, she hates a system which doesn’t meet her needs. She doesn’t want you to live in pain and to get a mediocre new hip. She just wants a good new hip for herself!

To the more successful: again, it isn’t about you — it’s about the 99% working harder and harder and getting less and less. If they actually hated you, they’d start burning down your houses and bombing your businesses. But they don’t hate you; they take their anger out through their vote, and put in successive governments, (often alternating between Left and Right) each of whom have made their (the 99%) situations worse. As Michael Moore predicted before the election, Trump will win because of a big voters’ F*** YOU to the political elites.

Almost no-one of the 99% would care about a baseball player or a CEO making $20 million a year if they (the 99% weren’t feeling stressed, screwed, blindsided, and ravaged by inflation and non-existent interest on what savings they have.)

On the side of the wealthy, I agree that the tax system in this country is screwed up — and it would be unscrewed if the 99% got better wages and therefore produced more tax revenue. After all, there are a LOT more of the 99%, and even moderate raises in wages would result in a lot more tax revenue.

There are answers to these economic problems we have: openly despising one another is not one of them.

#109 Millenial on 01.29.17 at 7:52 pm

#72 Goody Niosi on 01.29.17 at 6:31 pm
Sorry – the “poor” mother and daughter are right. The health care system was set up to treat everyone equally, not to allow rich people to upgrade. We all pay the same premiums (if we live in BC) and we should have the same access.

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

If you need a hip replacement, you get a hip replacement. What’s your problem?

#110 Smoking Man on 01.29.17 at 7:52 pm

The western divide is City slickers vs the rust belt.

Common sense vs teacher inspired fantasy narratives.

Everyone vs the straight white male who’s not ashamed of the skin he’s in, who likes wearing cowboy boots.

Was debating a former co-workers kid on Facebook. He’s one mind KD goof, currently a student at western. Out of respect to my ex-co-worker I just left it alone.

I know this, the quality of kids that will go through rotation programs at the big corps will be very disappointing in the years to come. These kids are clueless celebrity worshipers.

#111 Pete from St. Cesaire on 01.29.17 at 7:55 pm

Those thinking about going out-of-country for medical procedures (I’m not talking fertility treatments); Switzerland is usually about 1/10th the price of the USA and better quality service.
And Brad, as for Prune Face; had you been able to afford it a good lesson to her would have been for you to offer to pay (seriously) for the upgraded hip for her too, right there at that time. See if she would accept your offer. If she did, not only would she be a hypocrite, she would become the pariah of her petty little family.

#112 A deplorable on 01.29.17 at 7:57 pm

Excuse me… stop the propaganda and defending the 1% it’s not about them, they are useless as a bunch.
I particularly dislike some of their enablers, the “rich” that work in government positions in Canada and the US, jumping from private jobs to government jobs and back, the C level type suits.. And especially the likes of Hillary and Bill, newer had a company that actually produced anything of value, two carpet-beggars that came to Washington broke in the 90s and now are worth 100 millions each. Explain that. And then they have the guts to ridicule Trump…You have to be kidding me, Trump didn’t steal from the US government, the Clintons did this for 20 years and from the American people, but indirectly, so the poor adorables, well they adore them instead of hating them.. The deplorables saw the truth though.

#113 JYD on 01.29.17 at 8:00 pm

Don’t you think things are bit out of whack when 78% or the 1% are male when women make up just over half of the Canadian population. Something suggests it is a bit more than just hard work and an educational that get you there. Unless the women in our society just aren’t smart enough. However, this stats can reference suggest otherwise. It states that women do better in school at all levels including post secondary studies.

http://www.statcan.gc.ca/pub/89-503-x/2010001/article/11542-eng.htm

Or they don’t work hard enough. That would be a tough argument to make.

Atributing success solely to hard work and an education is a rather naive or calculated viewpoint.

Also, you may want to provide more links to support the references you make. That way people can read the articles in full you’re referencing rather than only hearing your take on it or a small quote you’ve pulled while omitting other important components.

Not your librarian. Do your own research. — Garth

#114 AB Boxster on 01.29.17 at 8:00 pm

#104 Linda on 01.29.17 at 7:44 pm

—————————
You’re kidding right?
I think you have a few other countries in the world you should be worrying about other than the USA.
Don’t forget, the American’s have a lot of guns, mainly to protect against the tyranny of their government.

Now Canada.. well we’d be screwed.

#115 Paul on 01.29.17 at 8:01 pm

#8 Anne,

Right on! It bugged me delivering gst rebates to retired people with million dollar homes and huge rv’s in the driveway. Makes no sense.

#116 Western on 01.29.17 at 8:01 pm

#107 Smoking Man on 01.29.17 at 7:52 pm

Was debating a former co-workers kid on Facebook. He’s one mind KD goof, currently a student at western. Out of respect to my ex-co-worker I just left it alone.

I know this, the quality of kids that will go through rotation programs at the big corps will be very disappointing in the years to come. These kids are clueless celebrity worshipers.
——————–
You forgot to add a link to some of that celebrity’s music that you worship, as always.

#117 KAC on 01.29.17 at 8:08 pm

#46 Foreign capital in Victoria.

Sorry to rain on your parade but Victoria asking prices are tumbling.

You can see the price drops for yourself at this site:

http://www.myrealtycheck.ca/

In January there were 14 price reductions versus 8 price increases. That doesn’t sound like a hot market to me.

#118 Smoking Man on 01.29.17 at 8:10 pm

Happy Chinese New Year.

#119 Hawk on 01.29.17 at 8:10 pm

The people who voted for Donald Trunp did not do so, because they hate the rich, because even assuming that many have low intellect, they can obviously see that Trump is himself very rich and flaunted his success as well as his skill in tax evasion, as well as his plans to reduce corporate taxes.

Therefore even the biggest country bumpkin can figure out that he’s not against the wealthy.

Rather the people voted for Donald Trump because they lost their jobs which were outsourced to overseas labor markets, all the while that corporations still got the “right” to sell their products in America. This is the injustice that struck a cord with the people, which boosted his popularity.

Now whether he follows through on his promises……….that’s another story, let’s wait and see.

#120 Kaganovich on 01.29.17 at 8:12 pm

Oh well, hopefully my third attempt to post some discussions by Mark Blyth succeeds. Many here may find what he says interesting, some will find it provocative as well:https://www.youtube.com/watch?v=Bkm2Vfj42FY

#121 Barb on 01.29.17 at 8:13 pm

#24 greyhound on 01.29.17 at 4:19 pm

“There are 35.16 million Canadians but just 268,000 people who qualify as being in the 1%…”

Um, I’m curious about the math; has “1% of 35,160,000 = 351,600” now become an “alternative fact?”

——————————————-
Read it again…this time for comprehension.

#122 YLTNBoomerang on 01.29.17 at 8:13 pm

TIL I’m a 1%er in Canada and can’t afford a SFH for my family in the town I was born – North Vancouver

#123 meslippery on 01.29.17 at 8:14 pm

Now people making $250,000 have a 53% marginal tax rate, and are painted as an evil elite.

That alone No, but if they put hundreds of people out
of work moving to Mexico so as to make more yes.

#124 The Totally Unbiased, Highly Intelligent, Rational Observer on 01.29.17 at 8:15 pm

The people of the United States are so very lucky to have a great and entertaining leader like President Donald J. Trump who has so much energy even at age 70, and who wants his great country to have plenty of energy too. DJT approves of drilling for oil and gas on government lands. DJT approves of a nice, new pipeline to transport oil. DJT is so wonderful and generous that he is even willing to build the pipeline using American steel and American labor, rather than forcing Canada to build it and pay for it like he would be fully justified in doing.

In stark contrast, in Canada the current Prime Minister Justin Trudeau would like to phase out the oil sands, and coal, and every other good thing, and replace them all with carbon taxes. Then, when Canadians are about to freeze in the dark, the great Donald Trump will have to come to the rescue and heroically save the Canadians’ truly sorry butts from the consequences of their own foolishness by transporting up through the nice, new pipeline to Canada some of the abundant and inexpensive oil that the newly energy-independent United States will be producing to save Canadians from their own great folly in thinking and voting like a bunch of potheads. This will surely be the inevitable result of the Americans voting in a great POTUS while the Canadians voted in a big POTHEAD.

Trump is fully expected to be vastly greater than even our own great and glorious former leader King Harper. Stephen Harper had hoped to make a lasting name for himself by doing good things for the Canadian economy, but sadly, like a righteous man stumbling and falling down before the wicked, he got tricked and pressured and intimidated by the forces of darkness and evil into banning the incandescent light bulb in Canada. This one senseless act left a most unfortunate dark spot on his record. This mistake gave the enemies of all good some help to usher in the new age of darkness that they are scheming and plotting to bring about in Canada.

#125 Kevin's Fanzone on 01.29.17 at 8:19 pm

Long Live Melania…..I mean President Trump !!

#126 Hawk on 01.29.17 at 8:21 pm

Some advice for Brad……..make as much money as you can working an AVERAGE day i.e. 7.5 hours. Working hard in a society to earn additional rewards is not worth it, because the economic law:

Marginal Utility < Marginal Effort

kicks in BIG TIME.

#127 AB Boxster on 01.29.17 at 8:21 pm

#107 Sam the Sham on 01.29.17 at 7:49 pm
#72 Goody Niosi on 01.29.17 at 6:31 pm

————————–
There is a very simple question you should ask yourself.

That question is:
Is what service that is being delivered to the other patient, in any way detrimental to the service or access that I am getting.

In Brad’s case the answer is no.
What all patients are receiving is acceptable standards of care.
That Brad has paid for extra, in no way compromises the others standard of care or access.
So why the concern?

You do know that some people in hospitals get better rooms based upon a higher level of insurance. Are you opposed to this?

Some people get access to the real drug and others only get the cheaper generic drug. Are you opposed to this?

Some people drive to the hospital in a Mercedes while others arrive in a Kia. Are you concerned about this inequity?

Fundamentally , if the service you receive is not impacted by the service that other receive (or in this case the joint that Doug receives) then why do you care?

Or maybe you are just a typical Canadian lobster:

http://globalnews.ca/news/1224438/vice-founder-shane-smith-knocks-canada-for-stifling-success/

#128 [email protected] on 01.29.17 at 8:25 pm

#16 Freedom First
Now, I am no 1%er, though I do my best to also speak softly, as I know what Brad is talking about.
Hey freedom I’m no 1% iether , worked hard and did extra to make $ , retired @55 , former co workers had all the same opps. Didn’t use one , bunch of whiners . I like to remind them they are still working Haha!!

#129 InvestorsFriend on 01.29.17 at 8:35 pm

Buffett was mentioned…

Monday night must see T.V. an hour long special on his life. This is on the HBO channel.

You MUST watch. Possibly the smartest man alive. Definitely the smartest investor ever. Self made.

All of his Berkshire wealth will be donated. ALL. A paragon of virtue. You must watch.

#130 Kaganovich on 01.29.17 at 8:35 pm

Perhaps some commenters here can identify with Thomas Frank’s description of liberal elites, obsessed with merits, their own to be precise, and how those attributes are narrated into their autobiographical story of success lol:https://www.youtube.com/watch?v=M9u2aR19P3g

#131 mark on 01.29.17 at 8:41 pm

So what exposure to the USA market should a person be taking off the table, all of it.

None. — Garth

#132 NigelM on 01.29.17 at 8:54 pm

#82 acdel

Did you read my post or the article above? It’s not focused on entrepreneurship and neither was my comment. I don’t know how you tied my comment on financial illiteracy to issues created by politicians in Ontario for the self employed.

#133 Hicksville Alberta on 01.29.17 at 8:56 pm

#7 – I’m stupid

The last part of your first paragraph stated things very well:

” I sacrificed my youth my childhood my early 20’s and all everyone does is count how much money i have. Its BS. I would gladly give it all up for my childhood back. All my wealth can’t buy freedom curiousity and carefree time of a teenager. ”

To put things in a greater perspective for you, in the very small community i live in, there was a service last Monday for a 64 year old woman and on Friday for a 68 year old woman and as well, a 63 year old man passed that same Friday. As well, on Friday, there was a service for my very successful and a fantastic ex brother in law in Vancouver who was just 70.

I got out of everything ( two businesses ) in the early 1990’s at peak earning years that were getting more peaker every year and i don’t regret it for a nanosecond.

Once you get out it is hard to quit cold turkey and reinvent a new life, but there are people to help with that if necessary. You have to work at it and over the years i have found i have gravitated to the freedom, simplicity and fundamental values i held back in my teens and early twenties before and as i was being sucked in to the system.

The system is screwed and it’s a soul sucking trap and it ain’t worth it past a certain point. You just need to know where your point is and stand your ground and make your changes.

Good luck to you……….

#134 The Wet Coast on 01.29.17 at 8:56 pm

The parable of the Ant and the Grasshopper. So true and so sad. The winter is coming boys, so prepare for Grasshoppers at the door.

#135 Yuus bin Haad on 01.29.17 at 8:56 pm

Mark Zuckerberg. Is there anything he doesn’t know?

#136 MF on 01.29.17 at 8:58 pm

#11 Ace Goodheart on 01.29.17 at 3:55 pm

You have an adult in power now in Trump, not the reverse in leaders like Obama for example. After spending 8 years talking a lot and golfing, look at his actions in the final moments of his presidency when it became apparent Trump would reverse his garbage legacy (Piss off Russia unnecessarily, throw Israel under the bus, give millions to terrorist groups).

Good riddance to him and his type of fake leadership.

MF

#137 Andrew Woburn on 01.29.17 at 8:58 pm

“There’s something soothing in all that anger. Populism is built on the irresistible allure of simplicity. The narcotic of the simple answer to an intractable question. The problem is now made simple.

The problem is you.

How do I know? Because I grew up as the “you” Trump is about to turn you into. In Venezuela, the urban middle class I come from was cast as the enemy in the political struggle that followed Chávez’s arrival in 1998.”

https://www.washingtonpost.com/posteverything/wp/2017/01/27/in-venezuela-we-couldnt-stop-chavez-dont-make-the-same-mistakes-we-did/?utm_term=.0bb0e6516446&wpisrc=nl_most-draw8&wpmm=1

#138 S.Bby on 01.29.17 at 9:02 pm

# 7 I’m Stupid
At least you don’t live in BC; we can’t claim IVF costs here and you gotta pay the full freight. It’s a big business here in BC but we can afford it bcuz we are all millionaires from our houses.

#139 WUL on 01.29.17 at 9:12 pm

TurnerNation:

You mentioned a Q.C. appointment. Far cooler to get the first K.C. once we lose Her Madge and Charles or Wills takes the throne.

#140 Millennial Investor on 01.29.17 at 9:15 pm

Re: 113 JYD

Most professional women I know (myself included) refuse to work 60 hour weeks & work ourselves into an early grave for a few extra nickels. I could be a 1%er but I choose to work 3 days/week and take 4-5 vacations per year. So I maintain balance and earn just 150k :)

#141 bdwy sktrn on 01.29.17 at 9:20 pm

SOLD report. grandview – east van

1150 LILY STREET $1,348 sell $1,400 dom 3

1727 GRANT STREET $2,198 sell $2,160 dom 8

2281 E 10TH AVENUE $1,399 sell$1,399 dom 78

market awakening? two new listings gone fast, and one old one sold. at or over asking prices. still as high as ever.
2.2m for an old dumpy 33′ house chopped into suites.
1.4 for tear downs. oh the horror of the (non)crash

all the pink snow washed away by the warn rain!

and mr flop (hope the wife doesn’t call you that!) the 8th ave place is not showing up yet as a recent sold, but here is one in the same hood that just sold at just about full ask…
2986 W 11TH AVENUE $2,499,000$2,650,000
(I don’t think the 1.6 number has any relation to true market value)

#142 Kaganovich on 01.29.17 at 9:21 pm

Oops, now they’re back, my mistake. Thanks Garth. And here is JRS on Brexit and the problems of neoliberal globalism:https://www.youtube.com/watch?v=kXUJEWNHweE

#143 hope & ruin on 01.29.17 at 9:24 pm

I have nothing but admiration for the 1%, those who worked hard, created opporunity and made the $$$. First and foremost is Mr. Trump.

The self-avowed tax evader? — Garth

#144 BG on 01.29.17 at 9:26 pm

#140 Millennial Investor on 01.29.17 at 9:15 pm
Re: 113 JYD

Most professional women I know (myself included) refuse to work 60 hour weeks & work ourselves into an early grave for a few extra nickels. I could be a 1%er but I choose to work 3 days/week and take 4-5 vacations per year. So I maintain balance and earn just 150k :)

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

Thank you for mentioning this.

I’m sick of hearing cherry picked stats in the men/women equality debate.

#145 Self Directed on 01.29.17 at 9:28 pm

Man, I really dislike all the market diddling Christy Clark is doing just to get re-elected. Does she have no shame whatsoever?

I’m voting for David Eby.

If she gets elected again for a third time, BC will easily rank as THE DUMBEST PROVINCE.

http://www.news1130.com/2017/01/29/exemptions-offered-foreign-buyers-tax/

#146 45north on 01.29.17 at 9:28 pm

A B Boxster: Canada is vastly different from the US in this respect especially in the new voting generations.
Canadians now expect government to solve all problems, either through spending or legislation,
or both.

the Ontario Government had better solve the Toronto transportation problem. In particular the urgent need to add to the subway system. Once this problem hits home, Canadians will stop feeling superior.

Wynne’s veto of Toronto road toll plan is an act of political cowardice

http://www.theglobeandmail.com/news/toronto/wynnes-veto-of-torontos-plan-for-road-tolls-an-act-of-political-cowardice/article33798554/?cmpid=PM0117

#147 X on 01.29.17 at 9:29 pm

Considering the level of education, time and sacrifice involved, I would argue that a lot of doctors, and I am referring to specialists here, are possibly underpaid all considered.

But I mean if you want the person doing your heart surgery to earn the same as your kids kindergarten teacher after taxes….then fine for you. Me, I would like them to be compensated well for their knowledge.

Perhaps the next social revolution here will be about too many taxes, as we come to realized that there are not enough rich to target and the middle class become the next targets…..to bail out those who chose no further education, smoked, gambled and drank (might as well throw cars/trucks in there too) away their extra money that could have been invested.

#148 acdel on 01.29.17 at 9:30 pm

#132 NigelM

My apologies; meant to reply to another post, no need now, thanks for setting me straight regarding your response to Garth’s Blog.

#149 Doug in London on 01.29.17 at 9:30 pm

My colleague (and closet conservative, or is he a lefty?) Doug Rowat stirred the animal spirits on this barnyard blog over the weekend by writing about Trumpism and why the guy got elected.
———————————————————-
Not everyone here agreed, but I thought that comment of stirring the animal spirits was quite funny! As I’ve said before, this blog is not only informative, but also quite entertaining.

#150 Rexx Rock on 01.29.17 at 9:35 pm

The reality is are government are flat broke,it needs money just to pay the interest payments.Get used to it.Like the Alberta man who got a fine of $465 for a little crack in his drivers license.They police should only pull people over and cut peoples license a little to raise the funds.Any thing is on the table to raise funds just like the carbon tax.Push the envelope the people deserve it,they are serfs.The 1% ers should be taxed 75% of their income and if they decide to move have a huge exit tax.

#151 Doug in London on 01.29.17 at 9:37 pm

@MF, post #136:
Actually the USA recently HAD an adult as president (yes, past tense) and he’s gone now. This adult presided over an economy which was about to fall into the abyss and lead to the the great depression of the early 21st century. The EXCELLENT leadership skills and prudent judgement of the Right Honourable Sir Mr. Barack Obama and his well selected team brought the USA back to life, not only recovering steadily but showing the BEST performance of developed countries in the world.

#152 For those about to flop... on 01.29.17 at 9:46 pm

Hey Bdy Sktrn,here is the sold listing at 2735 w 8th

http://www.yattermatters.com/homes-for-sale/my-sold-listings/kitsilano-best-buy/

Also that one at 2273 Graveley had to lower the price to 1.399 for a substantial loss if it went for that.

It takes a couple of months for the details to be entered into the database,a lot of people will still get burned this Spring…no doubt.

I am trying to document what is happening in the market,not shit in anybody’s sandbox.

I don’t see the point in saying in 3 years time I saw what was happening….to be beneficial to anyone it has to be in real time ,with real examples.

Someone posted the other night about houses going way over ask and then , I think it was your buddy S.Bby to show some evidence and the person hasn’t be heard from since.

I apologize to anyone who is annoyed that my comments don’t always relate to the topic of the day,but like I said I am trying to do it in real time.

As far as my wife calling me Mr Flop ,I don’t have any kids to show that it works or that I know what I’m doing ,but the practice sure is fun…

M42BC

#153 Barb on 01.29.17 at 9:46 pm

It’s not Poor vs Rich.
The enemy is corruption, not wealth.

Here’s B.C. corruption:
https://in-sights.ca/2017/01/27/indeed-power-does-corrupt/

#154 Toronto Police PR Spin Team on 01.29.17 at 9:48 pm

Dear Mr. Turner,

As you and your readers are aware, this past week some of our officers wrongly suggested that one could get AIDS from being spit upon and also that police could seize the cellphone cameras of private citizens. We apologize for those incorrect statements.

http://www.citynews.ca/2017/01/26/toronto-police-face-formal-complaint-cellphone-video-threat-aids-comment/

However, the same officers also have claimed that one could contract HIV/AIDS from reading your blog.

Please allow us to clarify this:

You CANNOT get HIV/AIDS from reading Garth’s blog.

HOWEVER, reading any comment by Smoking Man will definitely cause you to contract herpes.

And…reading this comments section more than once a week will substantially lower your desirability to your partner and reduce your fertility level; hence, the large number of recent posters discussing fertility and their inability to reproduce.

#155 yorkville renter on 01.29.17 at 9:49 pm

Haters going to hate… juat ignore them. Theres nothing you can do to change their mind or attitude so why worry?

Not a 1% yet, but probably top 5%! :)

#156 crdt on 01.29.17 at 9:49 pm

I recently had a hip replacement operation and I really don’t think it matters what components are used in a practical sense. The main concern is following directions, exercising, walking etc.. At physic my therapist told me of a well to do guy who went across the line to get a more advanced anterior approach procedure, supposed to be quicker, less pain etc. Turns out that he is in bad shape unfortunately, new method, more unknowns, the guy can barely walk. Money does not make you younger, or increase the chances of success. I would argue in this case, having the means was a disaster.

#157 Doug in London on 01.29.17 at 9:50 pm

We live in a society where it’s perfectly okay for a ball player or a second-rate rock star to make $20 million a year, but the guy down the street with two Mercedes and a nice house is an economic pariah.
————————————————————–
I don’t understand that, never did and never will. I have a serious problem with the ball player making $20 billion while there people in poverty in the same country. However, I actually know someone who has a nice house, makes a lot of money and has one (not two) Mercedes car. He worked HARD to get it all and I have NO resentment at all, and neither should anyone.

@NigelM, post #79:
I’d say you summed it up quite well. In this day in age, it seems a lot of people are looking for quick fixes and believe success is easy. It’s instant gratification versus delayed gratification. The secret to success is hard work, that’s why it’s remained a secret for so long.

#158 Foreign Capital in Victoria on 01.29.17 at 10:07 pm

#46 Foreign capital in Victoria.

Sorry to rain on your parade but Victoria asking prices are tumbling.

You can see the price drops for yourself at this site:

http://www.myrealtycheck.ca/

In January there were 14 price reductions versus 8 price increases. That doesn’t sound like a hot market to me.

——–

That is a random sampling of homes, not all houses in Victoria.

And the downward trend in LISTING price is not universal in all cases.

And the listing prices are up 20-30% of last years prices, based on two years of inflated assessments.

And those cashing out of Victoria are still moving to the surrounding communities, keeping prices up 20-30% from a year ago.

And now with Christy Clark amending the foreign buyers tax – on Chinese New Year (cough, cough)- you have all the signal you need in terms of where the provincial government wants prices to go…..with the aid of foreign capital….

Still waiting for VREU’s nice 2014 graphs showing stagnant prices, or her collapsing sales meme, or her reiteration that foreign capital has no impact on the market – just like the local real estate board tells you so that nobody calls for the foreign buyers tax to be extended to Victoria….

Hey, maybe VREU is a realtor herself since her foreign capital narrative aligns exactly with the RE industry in Victoria – who of course followed the Vancouver RE spin points that foreign buyers had ‘no impact on the market.’

We saw how that narrative was fictional….let that sink in.

#159 For those about to flop... on 01.29.17 at 10:17 pm

Hey Bdy Sktrn , the people at Grant st. were lucky to get out in time.They were into it for 1.85 and according to you they got 2.16m

The Pink Snow does not relate to some guy that bought 8 years ago and will stil make out like a bandit in a decline.

The ones that are getting caught with tough decisions to be made are the people that bought in early 2015 onwards and are struggling with the monthly and are seeing the equity slipping away on their properties.

I acknowledge I look like I am a housing bear right about now but only 9 months ago on the trip up I was reporting houses going for crazy money over ask in my neighborhood.

It’s in the archives… one house over my back fence went for around 500k more than I thought it would.

I am not probably the best person to be documenting this but I am trying to make sure there is a recorded history of this downturn in the archives of this blog.

Just because the market is in a current downturn does not mean it cannot come back up.

Look what happened in 08/09 and look what Cabbage Patch Clark did today regarding foreign ownership.

What’s gonna happen?

I don’t know ,but I’m trying to help the people mainly in Vancouver and to a certain extent Toronto know what’s currently happening here…

https://evaluebc.bcassessment.ca/Property.aspx?_oa=QTAwMDAwMVlLRA==

#160 Long Branch Apprentice on 01.29.17 at 10:21 pm

#113 JYD

It states that women do better in school at all levels including post secondary studies

Since when does doing better at school correlate to achieving wealth?

#161 Fran Lawson on 01.29.17 at 10:27 pm

Hard to see any substantial price drop in YVR. BC gov’t just announced “exemptions” to the foreign buyers tax for foreign buyers with work permits. Seems government will intervene or prevent price drops aside from the fact that prices are very sticky on the way down.

#162 BillyBob on 01.29.17 at 10:34 pm

SOLD report. grandview – east van

1150 LILY STREET $1,348 sell $1,400 dom 3

1727 GRANT STREET $2,198 sell $2,160 dom 8

2281 E 10TH AVENUE $1,399 sell$1,399 dom 78

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

Errr…to my eye, at least one of those listings sold for about $38,000 less than ask…? Just sayin’…

aced seems a bit confused about which country he lives in. Hope he gets that sorted out. Canadians don’t live in the US, or “the West” – they live in Canada. (God help them!)

—————————————————————-

#113 JYD on 01.29.17 at 8:00 pm
Don’t you think things are bit out of whack when 78% or the 1% are male when women make up just over half of the Canadian population. Something suggests it is a bit more than just hard work and an educational that get you there. Unless the women in our society just aren’t smart enough. However, this stats can reference suggest otherwise. It states that women do better in school at all levels including post secondary studies.

http://www.statcan.gc.ca/pub/89-503-x/2010001/article/11542-eng.htm

Or they don’t work hard enough. That would be a tough argument to make.

Atributing success solely to hard work and an education is a rather naive or calculated viewpoint.

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

A better comparison is of like positions to like, i.e. female CEO to male. You’re sure to find that the women made all the same sacrifices as the men. If less women choose to do so, it is choice: not victimization nor discrimination.

It has been proven over and over that women are equally capable as men, but they rarely choose the dirty, dangerous, or more family-sacrificing jobs as often as men. And those are usually the ones that pay the most.

That isn’t to say there is no gender bias at all. But if you’re going to imply that women are unfairly shut out of the 1%, you’ll also have to acknowledge that there are entire fields now completely dominated by women, as well.

Turns out we really ARE different after all.

#163 Nonplused on 01.29.17 at 10:36 pm

What ever happened to “thou shalt not covet”?

What those 2 ladies Brad encountered seem to be completely unaware of was that Brad paid for both surgeries (his and the old lady’s). In a sane world they should have been thanking him. In fact he probably paid for a couple more people whom he didn’t happen to meet on this day. That he had an extra $750 left over afterwards is about all the reward he got for working hard enough to pay for all those surgeries, which the old lady got for free.

A fundamental principle of economics needs to be understood by all people. Governments cannot pay for anything, only people can. Governments do not labor or produce wealth, they only tax people and borrow money.

If you are getting a free hip from the government, it is because they taxed the money from someone else or borrowed it.

Unfortunately, the world has gone mad with “entitlement syndrome”. Maybe it is a direct result of the erosion in the value of human labor that has resulted from the technological revolution (which I’ve discussed in detail previously and there are many good articles about available on the technological revolution known as the internet), but we are reaching a point where pretty much everyone believes they should be entitled to eat someone else’s lunch.

It will lead to something akin to the fall of the Soviet Union one day. But until that day comes, I suppose it’s “collect that poggie and party on!”

#164 Global Golfer on 01.29.17 at 10:39 pm

acdel

In all honesty, I don’t agree with the huge paydays afforded to CEOs. It really doesn’t matter whether they lay off 10,000 employees or hire 20,000. It’s hard to justify the money they make and the bonus structure they work under. They built it themselves to increase their own pay. No matter, Garth is only stating that most of the 1% are not the CEOs, they are doctors, lawyers, engineers and other professionals that make MUCH less than the CEO class. Your rants about it are pointless. Trying to tie them all together in one bundle to hate is also pointless as so many voters have done. The CEOs are likely the 0.001%. They still also have huge tax liability to deal with, as do the doctors and other professionals. Taxing all these people together at a higher rate to allow a break to the middle and lower class has proven to be futile. As Garth stated, it didn’t add up…it never could. I guess the only thing gained by the higher tax rate to the 1% was the satisfaction of “hitting back”. 1% can never support 99%. The job of T2 should be to build an economy and lower taxes for everyone. The extra money will stimulate consumerism and growth.

#165 Kevin's Fanzone on 01.29.17 at 10:44 pm

#138 S.Bby on 01.29.17 at 9:02 pm
# 7 I’m Stupid
At least you don’t live in BC; we can’t claim IVF costs here and you gotta pay the full freight. It’s a big business here in BC but we can afford it bcuz we are all millionaires from our houses.

___

We had to go to Bellingham, WA because in BC we have FREE healthcare that we PAY $175 a month for. Course if you are a public sector employee ALL your healthcare is paid for by the taxpayer.

BC…..what a joke. Criminal capital per capita of Canada.

#166 WUL on 01.29.17 at 10:49 pm

Is there an example of a city imposing tolls on freeways (a la Tory now nixed by Wynne) that lead to changed behaviour, a reduction in congestion and improved public transit? I have my doubts. I suspect grumpy commuters simply pay the tolls, grip the steering wheel harder and gripe (perhaps justifiably). I will research the issue.

#167 westcdn on 01.29.17 at 10:59 pm

Every now and again I rant when I have been sitting on my hands too long.

I remember months ago stating that if the US wanted Keystone XL, they could build it themselves. The Energy East pipeline is for more strategic for Canada. It is in the same league as building the Canadian Pacific Railroad back in 1880.

We use Canadian workers to build it and maintain it. We would use Canadian steel for the pipeline. Property taxes and right of way fees would be payable to Canadian governments. We would have access to new markets to sell the crude or refined products reducing US control of our resources. I think we should have a national referendum on Energy East before a shovel is put into the ground for Keystone XL. Something has to pay for those spiffy new carbon taxes.

I believe the Trans Mountain Pipeline is sufficient for the Pacific. Time to make stand Canucks and decide what is best for Canada. The Nafta agreement covers energy and water supplies to the US. The US want to play hardball, fine, I’ll will playing (negotiating) to win. It is also time for Canada to become a nuclear power. We will hide the damn warheads in the Canadian Shield.

#168 Wade on 01.29.17 at 11:05 pm

The next door neighbors are loosing there place and where I’m living my buddy is on the verge of loosing his place to…..this is in leduc alberta 20 minutes south of edmonton

#169 OffshoreObserver on 01.29.17 at 11:06 pm

#17 Euro observer on 01.29.17 at 4:10 pm

Many people in GTA made over 200 k in house appreciation last year alone, tax free.

The stupid drama teacher can tax them first before going after doctors and professional corporations.

As for me I choose not to reside in Canada and not to pay any taxes to these stupid idiots in power. Tx my behind, fellas.

Ditto from Southeast Asia, EO:

I fled the insane cost of living in Vancouver and moved to Southeast Asia in 2010 after selling my business, the principal assets of which comprised land & buildings.

Just upgraded from one motel to a hotel across from “China Beach”. I went from USD250/month to USD500/month, including breakfast.

http://goldensea3hotel.com/en/gallery-2/acccomadation/

What gets me about Canada is that all the ex-bureaucrats and politicians, despite the obvious demographics: aging citizenry and runaway government spending, failed miserably in planning to deal with the inevitable. Yet, they retire on indexed, swelling pensions.

The only way I can deal with that is to structure my affairs to avoid and minimize my tax burden.

Mind you, my Nationalism quotient is zero.

Every dollar I keep vs. paying the government serves to limit their ability to mal-invest capital.

https://books.google.com.vn/books?id=kcycAQAAQBAJ&pg=PA296&dq=tax+avoidance+quotations&hl=en&sa=X&ved=0ahUKEwj4_tG9_ejRAhWDurwKHYGsA8cQ6AEIJjAA#v=onepage&q=tax%20avoidance%20quotations&f=false

https://books.google.com.vn/books?id=3infvY3qbuoC&printsec=frontcover&dq=tax+avoidance&hl=en&sa=X&ved=0ahUKEwj-1M3j_ujRAhULmJQKHfgZDnoQ6AEILzAB#v=onepage&q=tax%20avoidance&f=false

#170 Nonplused on 01.29.17 at 11:19 pm

#164 Global Golfer

The vast majority of the “CEO’s” out there do not get paid bazillions of dollars. You are really only looking at a small group of people running Fortune 500 companies that have managed to manipulate their compensation packages in such a way.

Most CEO’s are running small to mid-sized companies that make up the backbone of the economy. For example I am acquainted with the CEO (and owner) of a towing company here in where I live. She is doing pretty ok, but it is because her father built the company and she and her brother now own it. She employs something like 50 people. Tax her more, and well you will have to pay more for tows, so stay out of the ditch and don’t break down.

In the end of the day, another economic principle everyone has to understand is that it is not possible to tax a particular profession or class at a higher rate than the government may tax other people. It’s all optics.

Here is how it really works: Supply and demand sets prices. So when demand indicates Turner Investments can put together a large customer base by offering a great service, money flows that way. But when the government decides Turner Investments should pay a higher tax rate as a result, Garth raises fees. This might loose him a few customers, but it has to be done. So who paid the tax? Garth’s customers.

Now those folks are all rich too, comparatively, but in the face of higher fees, what do they do? Well they raise their rates because they have to save even more for retirement. The higher fees Garth has to charge in the face of higher taxes affects the rate at which their funds compound.

So who is that customer that Garth has that now has to raise his/her fees. Probably your doctor or your plumber.

In the end of the day, “the invisible hand” makes sure that over the long term all taxes are paid equally by all members of society. If you get a carbon rebate from Nutley, you also have to pay more for a Slurpee. There is no free lunch.

Even the poor who are on social assistance have no way out here. If the government raises taxes on the “rich” to up social assistance payments, all that happens is the price of everything rises and those on social assistance can buy no more than they could before.

It sounds good in principle, raising taxes on the rich, but it doesn’t work as they just raise the price of whatever they were doing that got them rich in the first place.

I suppose one day if we follow this train of thought to it’s logical conclusion one day in the distant future we will only have one person in Canada that pays any taxes, and he/she makes $40 billion a year.

#171 Acct fr AB on 01.29.17 at 11:26 pm

One thing you failed to mention is the 1%, especially the business managers, are the ones that get to decide how much growth/wealth goes to the middle class and over the last two decades the disparity is embarrassing. I think the trump movement is just the beginning. Back in the days greed was responsible for kings losing their heads…what’s different.

#172 insanity in our nation on 01.29.17 at 11:27 pm

Heres a idea, why doesn’t canada have a referendem, to see if born canadian citizens actually want to take and accept refugees? then we get it all out in the open and see what the true percentage is??? is that so hard to do?
I would like to here peoples responses to this.
Thanks

#173 NOTHING SURPRISES on 01.29.17 at 11:29 pm

#7 I’m stupid

“Don’t cry me a river”……. Perhaps you should look in the mirror.

If this is all you have had to worry about at this point in your life, count yourself fortunate.

There are countless children that would welcome what you could provide. Quit thinking of only yourselves!!

#174 Ponzius Pilatus on 01.29.17 at 11:31 pm

Just scanned 167 comments.
Not one worth responding to.
Quality over quantity will always win.
Blogdogs, I know you do better.

#175 For those about to flop... on 01.29.17 at 11:38 pm

Pink Snow falling in Richmond

This one was bought at the summit for 1.6 and with current price trend the sale price is likely to be closer to the 2015 assessment of roughly 1m

Maybe they can hang on but if they bought it for a quick buck they are done unless they have Cabbage Patch Clark on speed dial…

M42BC

Housman Street, Richmond

Dec 11:$1,888,000
Jan 29: $1,790,000
Change: – 98000.00 -5%

https://evaluebc.bcassessment.ca/Property.aspx?_oa=QTAwMDA1V1ozSA==

#176 Spectacle on 01.29.17 at 11:42 pm

Gosh, did I just read all the posts tonight…..?

Ps. And some of us do find this blog stimulating, if not a fertility blog.

Thank you Garth for the blog : )

#177 Long-Time Lurker on 01.29.17 at 11:43 pm

I just looked through all the comments. I pity you have to read them all, Garth.

How’s this one:

I pray to the gods of rock regularly to return but to no avail. I was just listening to Styx today. Alas, electric guitar riff –modern music’s greatest casualty.

Delete?

#178 Kothar on 01.29.17 at 11:44 pm

Trudeau wants to tax our health and dental benefits next! And this is on the common Joe they want to do it…not the 1%

#179 MF on 01.29.17 at 11:46 pm

Doug in London,

Obama took control when the economy had bottomed..there was only one way to go: up. He cannot take any credit for that, sorry.

He can take credit for engineering the worst recovery on record though (amongst other failures).

MF

#180 Jessica on 01.29.17 at 11:48 pm

There is a reason that the majority of 1%ers are male-they are married. When you profit from unpaid work in the form of free housework, childcare, and elder care and are free to focus with all that support behind you on your career, you’d have to be stupid or lazy to not succeed.
So before all the machos go denigrating the 99% that didn’t make it, consider that over 50% are female. If women ever had that level of support at home-in other words had a wife–the % of 1%ers who are male would change. In countries that are not so backwards as Canada in terms of childcare, women participate and contribute more to the economy. All the jobs listed as the top four require irregular and/or long hours outside regular childcare hours, something 99% of married men never need concern themselves about. “Behind every great man is a woman.” Have you ever heard the reverse-behind every great woman is a man? I didn’t think so. Men don’t like to play the supporting role, and women’s careers suffer for it.

#181 Victoria on 01.29.17 at 11:52 pm

# 23…..do you know what your metal on metal hip is doing to you? Did you even research it? When you walk the metal rubs on the metal and small pieces of metal go to your system. The hip surgery is not only a surgery but you have to think what the implant is doing to your body after the surgery. The ceramic is way to go. Metal on metal – look at the lawsuits that are happening when people use metal on metal implants. You need to do your research before letting them put implants into your body. vI did my research because I am only 50 years old and waiting for a hip replacement.

Sorry about it…I know it is a realstate blog .

#182 Foreign Capital in Victoria on 01.30.17 at 12:05 am

BC Liberals just effectively axed the 15% foreign buyer tax effective immediately.

At a time of record low inventory.

2017 Vancouver prices up by 50%.

————

Too funny.

So many bears thought the end was in sight. So many bears rejected the ability of governments to effectively intervene when the market started to correct. So many bears enthusiastically heralded the demise of the Vancouver market after only a few months with daily reports of houses selling a few dollars less after going up 60% in two years in some cases.

The ‘correction’ did not even begin and look – its over before its started. Looks like recent buyers got in just in time before prices start to ascend again.

If you understand where the bread is buttered politically, which is not hard to do with the plethora of news stories lately, you will know who the government favours.

Canada and BC are keen proponents of globalization – the basic tenet is the FREE flow of people and capital. Until those tenets are rejected, like they were to some extent in the UK and US, then there will never be any change.

Local wages and indeed interests will always be trumped by global capital’s unrestricted movement. Locals are an underclass – some say bought during elections and abandoned the rest of the time.

What is so hard to get? The paradigm has shifted from ‘local’ fundamentals to ‘global’ fundamentals. Come on, did everyone really thing local capital was buying 2,3,4,5 million dollar houses? Seriously?

Go to a resort community in Mexico and see who owns what and who works for them – Foreign capital and a local underclass that serves them. Take a good look Vancouver and Victoria – your future awaits!

#183 SunShowers on 01.30.17 at 12:06 am

Regarding Trumpism, the best summary I’ve seen is from Vincent Bevins of the LA Times. Give it a read.

—————————-

Both Brexit and Trumpism are the very, very, wrong answers to legitimate questions that urban elites have refused to ask for thirty years.

Questions such as – Who are the losers of globalization, and how can we spread the benefits to them and ease the transition? Is it fair that the rich can capture almost all the gains of open borders and trade, or should the process be more equitable? Can we really sustainably create a media structure that only hires kids from top universities (and, moreover, those prick graduates that can basically afford to work for free for the first 5-10 years) who are totally ignorant of regular people, if not outright disdainful of them? Do we actually have democracy, or do banks just decide? Immigration is good for the vast majority, but for the very small minority who see pressure on their wages, should we help them, or do they just get ignored?

Since the 1980s the elites in rich countries have overplayed their hand, taking all the gains for themselves and just covering their ears when anyone else talks, and now they are watching in horror as voters revolt. It seems in both cases (Trumpism and Brexit), many voters are motivated not so much by whether they think the projects will actually work, but more by their desire to say F YOU to people like me (and probably you).

The leaders of these movements (Trumpstick, Boris Johnson, Nigel Farage) have acted cynically for their own benefit. They’ve been willing to stir division and nationalism. And some of their supporters are real racists. The only solution for that small minority is to be crushed and thrown into the dustbin of history. But I refuse to believe this is the case for the larger group of supporters, that is, half of the UK or almost half of the US. They have some legitimate concerns, and the only outlet to vent they were offered was a terrible one.

—————————-

https://www.facebook.com/vincent.bevins/posts/10105426634702363
Here’s the Link Garth, if you’d prefer to simply have that rather than a wall of text on your blog.

#184 So want to say something spiffy! on 01.30.17 at 12:44 am

…………… ………. .. ….. ………….. ………… ……… ……… …………… ……… . ……… ……….. …………. .
I was here and I did read your comments.
I too have an opinion. I do respect your point of view, though it may or may not coincide with my experience. I hate confrontation; you may or may not agree. Either way I do appreciate this forum to which I may or may not be permitted.

Sincerely,
A Canadian

#185 Freedom First on 01.30.17 at 1:16 am

108 Hairhead

Yes. Good on you! Well thought out Post.

#186 Freedom First on 01.30.17 at 1:20 am

#92 Metaxa

Yes. Metaxa. Right when I think you can’t possibly lower the Bar any further with another one of your Posts, you do.

#187 paulo on 01.30.17 at 1:33 am

quick score card on “the donalds first week in power”
China, Americas Largest Trading Partner and largest Debt Holder:
Succeeded in seriously pissing them off,rocking the one china situation,saber rattling over some obscure coral islands in the pacific,and threatening a trade war .
Mexico, Americas Second Largest Trading Partner: all but started a genuine trade war
Canada, Americas best friend in the world, 3 rd largest trading partner ,scratching our heads and wondering what next.
The Muslim world, seriously insulted and likely pissed
all of which makes me think we are living in dangerous times, Trump and company need to slow down and stop shooting from the hip,less they find the only achievement he will succeed in is isolating America behind a greater wall, that in the end will not benefit america or anybody else

#188 Greg on 01.30.17 at 2:26 am

#7 I’m Stupid:

keep at it. I have 2 IVF boys and they are wonderful – no $ matter. Just pay the freight and figure it out later. The system is designed to reward losers. Don’t be a loser just do it! Also exercise and bang the wife 6 ways to Sunday just in case. I have a 3rd one that way, conceived in the 40’s after not conceiving in the 20s and 30s.

#189 NEVER GIVE UP on 01.30.17 at 3:06 am

#70 Rook on 01.29.17 at 6:31 pm
Totally get it Garth, no arguing there is a hate on for inequality these days that gets unfairly thrown at anyone wealthy. But I do think people often think their hard work, and only their hard work is what got them to where they are today. My father in law is hands down the hardest worker I have ever met, at work, and at home. He’s disabled and a proud janitor at a high school.
Maybe if more of the wealthy and powerful would have some humility and take care of the poor and vulnerable more, wealth be would looked upon as prestige again. With wealth becomes great responsibility? I dunno, something like that.
This comic does such a good job at what society really truly has become with such a divide. I am not saying wealth is undeserving, just sometimes so damn proud. Honestly, take a minute to read it. Lots to think about.

https://brightside.me/article/what-you-should-think-about-before-you-judge-others-10155/
===================================
Well said Rook!
In addition to this any one of us could have been born in Somalia.

#190 NEVER GIVE UP on 01.30.17 at 3:10 am

#165 Kevin’s Fanzone on 01.29.17 at 10:44 pm
#138 S.Bby on 01.29.17 at 9:02 pm
# 7 I’m Stupid
At least you don’t live in BC; we can’t claim IVF costs here and you gotta pay the full freight. It’s a big business here in BC but we can afford it bcuz we are all millionaires from our houses.

___

We had to go to Bellingham, WA because in BC we have FREE healthcare that we PAY $175 a month for. Course if you are a public sector employee ALL your healthcare is paid for by the taxpayer.

BC…..what a joke. Criminal capital per capita of Canada.
===================================

Exactly!. Lots of restrictions on Health Care here.
Although for those who were making 20k per month for sitting in a house they happened to own for the last 8 years.
Well To hell with all those in the water when we are in our lifeboats!

#191 ROTFL on 01.30.17 at 3:29 am

“As this blog has warned for weeks now, the Trump Bump rally that took off after November 8th and recently pushed the Dow past 20,000 is due for a healthy correction.”

If it is the mantra of The Blog to stay fully invested at all times in an appropriate asset mix, rebalancing as necessary, why does The Blog feel it necessary to warn about predicted corrections?

“[…] clicking in at an income around $227,000. […] On average, they pay $160,000 in income tax”

I think not. Get your numbers straight, or advise these people to hie themselves to H&R Block. Nobody pays that tax on that income unless they can’t subtract.

#192 Smartalox on 01.30.17 at 3:53 am

Speaking as one of those highly paid engineers (not quite 1%, but easily 5%), developing medical devices, I think that it’s important to explain the concept of ‘standard of care’. The standard of care is what every one gets, standard. You pay your health insurance for x number of years, and when you need care, the system is there for you. The standard is still light years beyond suffering.

Additional costs, or add one, like a private room, or cable tv are extra, as are improved treatment options. The difference with improved treatment options, is that these new and improved ‘extras’ are trials, or treatments that lack the experience required to allow bureaucrats the judge their effectiveness.

Often, by paying for the next new thing out of pocket, the establishment gains more experience, in this way, the standard of care is ratcheted forward.

Of course, it may well be (and has happened) that the high cost option ends up being no better than the standard, if not worse.

But those who would pay up to be early adopters of a new technology are also the ones who would take risks in business, in order to earn rewards.

Those that live their lives accepting whatever gets handed to them, should have little to complain about when relief from their suffering gets handed to them, too. Think about it this way: you’re paying for the privilege of being experimented upon.

#7 I feel your pain. Paid my own way up and out, supported those who should have supported me (I started working at 12) kept a few dozen others employed too, still do. We tried the standards, paid for the alternatives. We were successful. Grateful for this blog, and how it provided for us the means to do make the choices we did.

#193 Ontario's Left Coast on 01.30.17 at 6:11 am

And then we have this little pat on the head to the poor, unsuspecting souls dumb enough to be looking to real estate for wealth creation at the apex of stupidity…

http://business.financialpost.com/personal-finance/young-money/building-wealth-through-home-ownership

#194 Ace Goodheart on 01.30.17 at 6:52 am

RE: #180 Jessica:

“There is a reason that the majority of 1%ers are male-they are married.”

True. But there’s also the stability factor. When I got started in my business (we are all 1%’ers) none of us had wives. Some had girlfriends, a few had live in parnters. We were all young, high income and for the most part unattached.

We spent, however, like drunken sailors on shore leave. Sports cars, very expensive vacations, “bottle service” at very expensive clubs. The lottery was won each time another account came in and we kept spending.

Looking back 11 years ,when I got married that is when the spending stopped. Now if I brought home a sports car I’d be told to take it back to the dealer for a refund or pack my stuff. We worry about our retirement and we have RRSPs and TFSAs and we own a paid for million dollar Toronto house. None of that would have happened if I’d stayed single. Likely I’d be broke.

So yeah, I suppose the housework thing might contribute. I actually do most of the housework as she works nights (full time nurse) so she is here less than I am. And I am a better cook. But there is no replacement for a marriage in terms of financial stability. You simply cannot spend the way you used to when you were single.

#195 crowdedelevatorfartz on 01.30.17 at 8:21 am

@#176 Fonzi Pilates
“Just scanned 167 comments.
Not one worth responding to.
Quality over quantity will always win.
Blogdogs, I know you do better.”
********************************************

“I know you CAN do better.”

Well, when your spelling and grammar improves.

I’ll respond with some ofaculatory offensive observations that will amaze, astound and awe you…..all while “riding the elevator”.

#196 Scumbag LIB Christy Clark on 01.30.17 at 8:23 am

This woman is unbelievably corrupt. Throws in a nice loophole to the chinese so the FB Tax doesnt hurt so much….awww…thats so sweet

Right on gung hey fat choy day. Classic politics !!

Vancouver was doing so well, on the path to house “normalization” charts looking great…..now they are right back on the ascent to a psychotic spring market….

Get the work permit presses printing on Monday China!!

#197 basic math on 01.30.17 at 8:24 am

#191 ROTFL on 01.30.17 at 3:29 am

“[…] clicking in at an income around $227,000. […] On average, they pay $160,000 in income tax”

I think not. Get your numbers straight, or advise these people to hie themselves to H&R Block. Nobody pays that tax on that income unless they can’t subtract.

*******

$227,000 is the threshold to be 1%, i.e. the lowest income that qualifies. Garth said “On AVERAGE”, they pay $160,000 in income tax…..all 1% on average pay $160,000. Garth did not say that at $227,000 you pay $160,000.

Your bitterness is messing with you basic reading skills.

#198 crowdedelevatorfartz on 01.30.17 at 8:25 am

@#154
Toronto Police PR Spin Unit

I will avoid reading Smoking Man’s comments….thanks for the heads up!

#199 crowdedelevatorfartz on 01.30.17 at 8:40 am

@#145 Self Directed.
I agree with all your statements except one.
Christy Clark wont be elected for a thrid time.
She was Deputy Premier when “convicted drunk driver while he was Premier” Gordon Campbell decided to resign because the BC Rail insider information Trial was about to start.
Christy was appointed Premier by default.
He walked into a juicy Harper appointment as a Trade Commisioner in London England far away from the prying questions about BC Rail.
The Trial was stopped before it got too nasty for the Liberals with a $6 million dollar payoff to the two Defendents Mr Basi and Mr Virk ( which was NOT approved by cabinet and therefore illegal by even the Liberal govts own standards) who are NEVER allowed to speak of the “deal”.
Christy’s ex husband was directly involved in the sale of BC Rail as a “consultant”. No conflict there.
The investigationg RCMP officers wife worked for Christy Clark. No conflict there.
The wife of the head of the CBC news in Victoria worked for Christy Clark. No media conflict there.
Other media have quit and gone to work for Christy Clark. No media conflict there.

$50,000 cash payments for meeting with Christy Clark are peanuts compared to what she , and the Liberal party have done to this province…..and all the sheeple standing in front of Trump Tower on Georgia waving soggy cardboard placards against the “injustice of it all”.

Clark will be re-elected because 99% of the voters are lazy and stupid

#200 Reply to #124 on 01.30.17 at 8:49 am

Again, it’s difficult for me to tell if you’re writing with tongue in cheek.

Assuming you’re not, it no longer surprises me that authoritarianism and totalitarianism can get a stranglehold on a nation.

I am still hopeful, though, that the legislative and judicial branches of government can check the power of the executive branch, and that American democratic institutions (such as free speech, a free press, freedom of assembly) can withstand a Trump presidency.

#201 TurnerNation on 01.30.17 at 9:16 am

It looks like the elites are tightening the fear screws on us – new real or structured news events.

Someone pointed out the day after an event in US, we get it too, with two examples given:
– Florida airport event; next day we’re told a certain object was found in carryon in a Timmins (really?) airport.
– An earlier event in US; the very next day Westjet flights are diverted over unspecified calls.

– Fear and compliance. A single headline will do it. Emotion and vigils and hashtags round it out, makes it seems real no?

#202 maxx on 01.30.17 at 9:22 am

#8 Anne on 01.29.17 at 3:46 pm

“Perhaps we should focus more on taxing wealth. Some people in Vancouver have made millions on real estate the last few years. Why should they pay no tax while working people pay the price through both taxes and increased housing costs resulting from speculation.”

If that lunatic idea was enacted, imagine the hordes of politicians, industrialists and wealthy (including hard-earned money) moving (more) assets offshore- legally and well away from a system that taxes tax-paid wealth. Btw, many of them are “working people” as well.

Money that travels simply works somewhere else.

Some day, if and when you accumulate your own pile, come back and tell us how you really feel.

#203 IHCTD9 on 01.30.17 at 9:23 am

#180 Jessica on 01.29.17 at 11:48 pm
There is a reason that the majority of 1%ers are male-they are married. When you profit from unpaid work in the form of free housework, childcare, and elder care and are free to focus with all that support behind you on your career, you’d have to be stupid or lazy to not succeed.
So before all the machos go denigrating the 99% that didn’t make it, consider that over 50% are female. If women ever had that level of support at home-in other words had a wife–the % of 1%ers who are male would change. In countries that are not so backwards as Canada in terms of childcare, women participate and contribute more to the economy. All the jobs listed as the top four require irregular and/or long hours outside regular childcare hours, something 99% of married men never need concern themselves about. “Behind every great man is a woman.” Have you ever heard the reverse-behind every great woman is a man? I didn’t think so. Men don’t like to play the supporting role, and women’s careers suffer for it.

___________________________________________

The above post is a heavy, wet, steaming truckload of grade A bunk.

What about the single women with absolutely zero responsibilities at home?

Here come the excuses…

#204 IHCTD9 on 01.30.17 at 9:50 am

#178 Kothar on 01.29.17 at 11:44 pm
Trudeau wants to tax our health and dental benefits next! And this is on the common Joe they want to do it…not the 1%
__________________________________________

Of course, eventually they had to get their revenues up, and taking everything the Canadian 1%’ers have would barely put a ding in the Liberal deficit and new debt aspirations. They have to go back to the usual cash cow ie. everyone else. Wynne’s been socking it to anyone who needs a car to get to work or puts any kind of rubber on the road at all for her part.

That’s they way it will go from here on in. The idea that the Libs can grow our economy sufficiently to offset the Billions they’re borrowing is passé. Going forward, if the Libs (or any other stripe) want to borrow and spend, they’re going to have to carve up the citizenry at the same time. Either that, or they’ll have to be cool with selling off public assets and infrastructure like they do here in Ontario.

Keep an eye open, they’ll be going after their pound of flesh in a manner where you will have trouble (or inability) avoiding it. They’re already doing so. You can’t say no to insurance, cars, electricity, heating fuel – get ready for more.

#205 ShawnG in TO on 01.30.17 at 9:56 am

so many unrelated comments today

hey Brad,
next time you encounter the class resentment, just tell them you work 3 jobs, and rent a 800 sq ft apartment. I know, it’s alt-facts (ha, gotta work that in here somehow), but it’s the dumbed down version of hard work and prudence that 99% can understand.

#206 Paul on 01.30.17 at 9:57 am

Well just watched the R.C.M.P’s update on the discusting shooting last night in Quebec. Basically no real definitive information ie the theat is over, condition of the wounded, who they think are behind the murders. Never saw so much dancing without music.

#207 Chico on 01.30.17 at 10:00 am

#180 Jessica on 01.29.17 at 11:48 pm

There is a reason that the majority of 1%ers are male-they are married. When you profit from unpaid work in the form of free housework, childcare, and elder care and are free to focus with all that support behind you on your career, you’d have to be stupid or lazy to not succeed.
So before all the machos go denigrating the 99% that didn’t make it, consider that over 50% are female. If women ever had that level of support at home-in other words had a wife–the % of 1%ers who are male would change. In countries that are not so backwards as Canada in terms of childcare, women participate and contribute more to the economy. All the jobs listed as the top four require irregular and/or long hours outside regular childcare hours, something 99% of married men never need concern themselves about. “Behind every great man is a woman.” Have you ever heard the reverse-behind every great woman is a man? I didn’t think so. Men don’t like to play the supporting role, and women’s careers suffer for it.

__ __

I agree with much of what you have to say. A lot of men are rather one dimensional, part is biology, part is conditioning. When we were young, the only question posed to us was “what do you want to be when you grow up?” There was never a discussion about what sort of marriage you’d like or whether you wanted to have kids, or how you would parent. There seemed to be only one primary path for us to consider.

Back to one dimensional. In my mid 20’s, I found myself hanging out and socializing with a small group of lawyers. (I don’t have a law background, it’s just something I feel into. Please forgive me.)

What I noticed was that the male lawyers talked about law and nothing else. The female lawyers were much more interesting because they could talk about a variety of subjects.

Women had 3 options:
Be a stay at home mom
Have a career
Have children and work

Men had 3 options
Work fulltime
Work fulltime
Work fulltime

I’m quite confident that the lion’s share of those men have great appreciation for the sacrifices their wives have made to enable them to be away from the family for long periods of time.

In summary, many men cannot separate themselves from their career because they believe it to be their only way to measure if they are successful or not. (This is in response to your statement – “Men don’t like to play the supporting role, and women’s careers suffer for it.”)

Women have multiple ways to determine if they are successful or not, as it is not simply based on their career aspirations.

#208 I'm stupid on 01.30.17 at 10:22 am

I’d like to thank everyone for their support. I don’t feel bad about my situation. I’m confident I will be happy in life any way it turns out. If my wife and I don’t have kids I’ll retire in 5 years and we’ll do all the incredible things the world has to offer. I just don’t like this limbo stage where I don’t know which direction my life will go in. It’s the first time in my life I can’t plan and I don’t like it but should embrace it.

#209 Reply to #179 on 01.30.17 at 10:22 am

Are you not aware of the Great Depression (1929-39)?

It was preceded by the worst stock-market crash in American history, and was the longest, deepest and most widespread depression of the 20th century. The subsequent economic recovery under the Hoover and Roosevelt administrations was arguably the worst on record.

The Obama administration applied macroeconomic principles (monetary and fiscal policy) that were not fully understood at the time of the Great Crash and Depression.

“Everyone is entitled to [their] own opinion, but not to [their] own facts.” – Daniel Patrick Moynihan

#210 hope & ruin on 01.30.17 at 10:38 am

#143 hope & ruin on 01.29.17 at 9:24 pm
I have nothing but admiration for the 1%, those who worked hard, created opporunity and made the $$$. First and foremost is Mr. Trump.

The self-avowed tax evader? — Garth
_______________________________

I bet he still pays a hefty amount plus the jobs he creates pay income taxes, I’m hardly gonna vilify him for that. Either way I thought we called it tax planning around here, is what Trump does any different? I don’t know the answer but I do know to distrust any of the disparaging comments the MSM prints about him.

#211 Eks dee Sipal on 01.30.17 at 10:42 am

Was she 15 or 13? Maureen McCormick / Christy Clark can’t even get her fake story straight. “He jumped out of the bushes” She “happened to be reading” this particular bill in the legistlature. Oh boy. Does that mean you don’t read all the bills? Fake leaders, fake people, fake government, fake news.

http://globalnews.ca/video/2753064/exclusive-christy-clark-breaks-silence-on-childhood-assault

#212 onlyafleshwound on 01.30.17 at 10:44 am

Garth

How far are the great unwashed away from selling a kidney to keep up….or maybe bartering….imagine, 1 kidney for a ceramic hip and special bandages….

#213 Eks dee Sipal on 01.30.17 at 10:51 am

The cause of our problems in Canada (and the world) are not rich doctors and CEOs. The problem is the .01% and .001%. Like Trump. Classic distraction and diversion from the real issue.

They are preparing you for a Trump assassination. Melania wearing the Jacqueline Kennedy dress, and 5+ TV shows in the US featuring a leader being assassinated. Of course, Trump and family are related to Kennedy/Carter, so it’s a re-run of the same show for another generation. Enjoy, suckers!

#214 onlyafleshwound on 01.30.17 at 11:05 am

#169 OffshoreObserver on 01.29.17 at 11:06 pm

Ditto from Southeast Asia, EO:

I fled the insane cost of living in Vancouver and moved to Southeast Asia in 2010 after selling my business, the principal assets of which comprised land & buildings.

Just upgraded from one motel to a hotel across from “China Beach”. I went from USD250/month to USD500/month, including breakfast.

http://goldensea3hotel.com/en/gallery-2/acccomadation/

You done been hosed….should at least get a kitchen for that amount!

#215 BobC on 01.30.17 at 11:13 am

#207 Chico
Wow. Both the comment and your reply is thought provoking. So much is recognized in both.
It tells me that men and women have two different roles in life and if filled not only both but society as well will prosper and live satisfying lives.
When the feminist group rejects those rolls they not only hurt themselves but also hurt the males and all of society as well. Also all the pandering in the world won’t equal out women’s income to a successfully married male.
Am I seeing it all wrong?

#216 a-stay-at-home-dad on 01.30.17 at 11:22 am

#180 Jessica – “Behind every great man is a woman.”

Yes, I was a stay at home Dad for a while, and when a divorce came through, the kids lived with me, and I focused on raising kids, not making lots of money.

Great time raising kids – would not have changed it for the world. Only once did I get “you are doing women’s work”, but that was a couple of decades ago, and views have changed more recently.

It *is* a partnership raising kids. If one makes more money than the other, so what? For lots of my working life, my partner made more than I; it’s a partnership, not a competition.

#217 Smallfry on 01.30.17 at 11:31 am

Garth, did we ever get to see Trumps taxes yet?? Or have we suddenly forgotten about that. I haven’t, as taxes are coming up soon here Kanata.
I’m just wondering, considering the tantrum that was shown with seeing Obama’s birth certificate, couldn’t the same apply with seeing Trumps tax return? Quid pro quo.

No, we have not. — Garth

#218 Metaxa on 01.30.17 at 11:32 am

Enter to the theme from Jaws, eh?

…a story that many people haven’t noticed. On Wednesday, Reuters reported (in great detail) how 19.5% of Rosneft, Russia’s state oil company, has been sold to parties unknown. This was done through a dizzying array of shell companies, so that the most that can be said with certainty now is that the money “paying” for it was originally loaned out to the shell layers by VTB (the government’s official bank), even though it’s highly unclear who, if anyone, would be paying that loan back; and the recipients have been traced as far as some Cayman Islands shell companies.

Why is this interesting? Because the much-maligned Steele Dossier (the one with the golden showers in it) included the statement that Putin had offered Trump 19% of Rosneft if he became president and removed sanctions. The reason this is so interesting is that the dossier said this in July, and the sale didn’t happen until early December. And 19.5% sounds an awful lot like “19% plus a brokerage commission.”

https://medium.com/@yonatanzunger/trial-balloon-for-a-coup-e024990891d5#.yz1s9k2js

#219 Vamanos Pest on 01.30.17 at 11:33 am

#57 Mark
I assume you’re referring to doctors being paid by provincial governments in your comment (you didn’t say this explicitly, and I don’t want to put words in your mouth, but it seemed implied). If so:

The fact that doctors are paid by the government is the choice of PEOPLE, not the doctors. If you have an issue with doctors being paid in a “government enforced monopoly”, the logical position to advocate is for the end of public health care (at least with respect to physician compensation), not to maintain the status quo but apply punitive taxes. It’s inherently unfair to punish someone for something they have no control over.

#220 GVA RE slump on 01.30.17 at 11:34 am

GVA RE market is RED alright, though… NOT HOT lololol

http://www.myrealtycheck.ca

“Overall $ Change (Jan 2017): -136,714,710.00 ”

yep keep riding that sktr – can you say FAKE NEWS? hahahaha

#221 Doug in London on 01.30.17 at 11:38 am

@MF, post #179:
You must live in a bubble where you define engineering the worst recovery on record differently than the rest of the world. While the economies of many countries are still recovering sluggishly from the fallout of the great financial crisis, including Canada, the economy of the USA has recovered well. Quantitative easing is gone now, there are more jobs and wages going up, interest rates are climbing up due to building inflationary pressures, and even the badly battered housing markets are recovering. Yup, it sure looks like the worst recovery on record to me.

#222 TurnerNation on 01.30.17 at 11:39 am

DELETED

#223 Chico on 01.30.17 at 11:48 am

#215 BobC on 01.30.17 at 11:13 am

#207 Chico
Wow. Both the comment and your reply is thought provoking. So much is recognized in both.
It tells me that men and women have two different roles in life and if filled not only both but society as well will prosper and live satisfying lives.
When the feminist group rejects those rolls they not only hurt themselves but also hurt the males and all of society as well. Also all the pandering in the world won’t equal out women’s income to a successfully married male.
Am I seeing it all wrong?

—–

I’m not sure I would classify the differences as “roles” as much as preferences. Try this. Ask several men and several women “how is it going?” Don’t just ask it as a greeting, but ask people you have some connection with because you really want to know.

Pay close attention to what they’re answers are.
Men and women often use very different criteria to determine if they are happy/successful or not. Take notice of whether the discussion surrounds important relationships or important tasks/personal accomplishments or a blend of both.

As a male, I have almost only been asked one question in social settings…”how’s work?”
Be it by men or women, I’ve almost never been asked about another area of my life beyond my work.

#224 Johnny Boy on 01.30.17 at 12:04 pm

#198 crowdedelevatorfartz on 01.30.17 at 8:25 am

@#154
Toronto Police PR Spin Unit

I will avoid reading Smoking Man’s comments….thanks for the heads up!
……………………………………………………………………
I hear there is a ointment for that!

#225 Cerberus on 01.30.17 at 12:12 pm

I became so called 1%er in the past 2 years when I was 29. I was very surprised on how much tax had been deducted from my salary. Worked my ass off and the T4 was like a slap on the face.

I started my own company and turned myself into an IT freelancer last year.

#226 Johnny Boy on 01.30.17 at 12:23 pm

#179 MF on 01.29.17 at 11:46 pm
Doug in London,
Obama took control when the economy had bottomed..there was only one way to go: up. He cannot take any credit for that, sorry.
He can take credit for engineering the worst recovery on record though (amongst other failures).
____________________________________________

………………………………………………………………
So let me get this straight, President Obama took over when the worst financial crisis since 1929 had occurred.
So when your left with rotten Lemons you can only make great tasting lemonade? I don’t think so.
Perhaps you could have said he also could have tanked the economy further, caused a massive further market crash and left with more unemployed after his term. Of course it improved he did his job just like any other normal person would do.
The Federal fiscal year is set up that way to give the new President time to put together his budget during his first month in office. So Donald Trump better get his act together and figure out what to do. Trump has inherited an economy something much better than his predecessor.
http://www.factcheck.org/2017/01/what-president-trump-inherits/

#227 Johnny Boy on 01.30.17 at 12:38 pm

#218 Metaxa on 01.30.17 at 11:32 am

Enter to the theme from Jaws, eh?

…a story that many people haven’t noticed. On Wednesday, Reuters reported (in great detail) how 19.5% of Rosneft, Russia’s state oil company, has been sold to parties unknown. This was done through a dizzying array of shell companies, so that the most that can be said with certainty now is that the money “paying” for it was originally loaned out to the shell layers by VTB (the government’s official bank), even though it’s highly unclear who, if anyone, would be paying that loan back; and the recipients have been traced as far as some Cayman Islands shell companies.

Why is this interesting? Because the much-maligned Steele Dossier (the one with the golden showers in it) included the statement that Putin had offered Trump 19% of Rosneft if he became president and removed sanctions. The reason this is so interesting is that the dossier said this in July, and the sale didn’t happen until early December. And 19.5% sounds an awful lot like “19% plus a brokerage commission.”

https://medium.com/@yonatanzunger/trial-balloon-for-a-coup-e024990891d5#.yz1s9k2js
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
Christopher Steele is still underground and if he ever shows up alive will definitely have a target painted on his back. Oleg Erovinkin, a former general in the KGB and its successor the FSB, was found dead in the back of his car in Moscow on Boxing Day in mysterious circumstances. Erovinkin was a key aide to Igor Sechin, a former deputy prime minister and now head of Rosneft, the state-owned oil company, who is repeatedly named in the dossier. Apparently Erovinin died of a heart attack? Yes it happens all of the time, I climb into the trunk of my Lexus and die of a heart attack.

#228 Bark on 01.30.17 at 12:47 pm

Has anyone ever been given a kudos or a thank you for paying taxes? Forced wealth redistribution creates a perversion of gratitude.

#229 Jessica on 01.30.17 at 1:35 pm

I agree with much of what Chico says, but my point #215 BobC and #216 a-stay-at-home-dad in my post was to not disparage the 99% as lazy or unmotivated or stupid or simply less than because they’re not part of the 1%.

Many in the 99% contribute to our economy through unpaid and unrecognized work and their contributions are often what enable their partners “to make it.”

Making it to the 1% doesn’t mean you were smarter or more ambitious than everyone in the 99%. It may simply mean you had more support behind you.

And as for single women, well those who stay single and childless, do tend to advance further in their professions.

That doesn’t negate the fact that there are a lot of women whose careers are put on the back burner when they have kids, not by choice but by necessity.

In younger marriages this is changing somewhat. But as a judge said, “I said to my husband, who was in private practice and could set his own hours, “I have to be in court tomorrow afternoon. You need to go to the swim meet.” He had a look of incredulity. “That’s not our deal. If you want to work, that’s fine, but your job is a hobby.”

So my point is that behind those in the 1% is a network of support that resides in the 99%, who sacrifice their own paid and recognized success.

#230 Metaxa on 01.30.17 at 1:36 pm

Has anyone ever been given a kudos or a thank you for paying taxes? Forced wealth redistribution creates a perversion of gratitude.

Every time I load up a book on my Kindle from the library is thanks for me.

Every time I drive a road to wherever it is I’m going is thanks for me.

Every time the fire department responds to a neighbour’s plight, every time the police get a bad guy, every time I turn on the tap and get clean water, every time, every day, in every manner I get and give thanks for taxation.

I’m led to understand that you can get away with paying few taxes in Somalia.

#231 Jessica on 01.30.17 at 1:41 pm

The total amount of unpaid work done in Canada is equivalent to 12.8 million full-time,
full-year jobs. (Statistics Canada, 1995)

Women do two-thirds of the 2.5 billion hours of unpaid work performed in Canada
annually. (Statistics Canada,
Canadian Social Trends
, 1996)

In 1995, women working full-time lost 7 days on average to attend to personal or family
responsibilities, compared to about one day for men. (
Women’s Work – A Report by the
Canadian Labour Congress
, 1997)

Using Statistics Canada’s 30-hour definition for full-time work, most Canadian women
work part-time in the paid labour force and full-time in the unpaid. (Statistics Canada,
1992)

Three out of five female single parents live in poverty. (
Economic Gender Equality
Indicators,
1998)

“Women could achieve economic equality in one generation if they stopped having children and
replicated the work patterns of men. But the equality would last only one generation and then
it’s over!”
(Sheila Regahar: Economic Gender Equality Indicators,
1998)

More http://www.gov.pe.ca/photos/original/acsw_paid_facts.pdf

#232 IHCTD9 on 01.30.17 at 1:53 pm

#225 Cerberus on 01.30.17 at 12:12 pm
I became so called 1%er in the past 2 years when I was 29. I was very surprised on how much tax had been deducted from my salary. Worked my ass off and the T4 was like a slap on the face.

I started my own company and turned myself into an IT freelancer last year.
__________________________________

I know there are some folks on the blog here that think the laffer curve is an alt-fact neandercon mouth breathing conspiracy theory. The above post is for you to consider.

Also – good job Cerberus!

#233 MF on 01.30.17 at 2:00 pm

#226 Johnny Boy on 01.30.17 at 12:23 pm

Nope. Economy had nearly bottomed when he took office. He came in, signed a trillion dollar stimulus, bailed out those responsible and then ignored everyone who never recovered from his lopsided “recovery” for 8 years. A recovery hampered by Obamacare.

That’s why we have Trump. Obama forgot about everyone outside of New York and California.

Woops

MF

Your Trump boosterism is getting old. Move on. — Garth

#234 IHCTD9 on 01.30.17 at 2:01 pm

#231 Jessica on 01.30.17 at 1:41 pm

(Statistics Canada, 1995)

(…Statistics Canada , 1996)

In 1995, women working…

(…Canadian Labour Congress, 1997)

(Statistics Canada, 1992)

(…Indicators, 1998)

(… Indicators, 1998)

_______________________________________

Right, an assertion backstopped with facts from the Cretaceous Period.

Nice…

#235 mishuko on 01.30.17 at 2:03 pm

started the Chinese new year so well… this morning found out my close family friend has passed. really hits you.

I respected him cause he was in my opinion one of the best car drivers I know (he drove a MANual), levelheaded and one of the nicest guys you could know.

someone tactless commented on my FB message to him ‘do you know where he is? he hasn’t been to work for a few days’…….. like come on why don’t you private message me?

good thing he took it down I was about to full blast him and the company.

#236 MF on 01.30.17 at 2:05 pm

#221 Doug in London on 01.30.17 at 11:38 am

So why did the populist movement Gain support if things are so rosy?

Why were we stuck at .25 % interest rates for almost a decade? Why did we have to spend trillions buying bonds for so long?

I don’t disagree that the US is better, compared to 2008, today but I don’t believe it is “booming” either. If it were, hillary would be potus.

MF

#237 IHCTD9 on 01.30.17 at 2:24 pm

#231 Jessica on 01.30.17 at 1:41 pm

“Women could achieve economic equality in one generation if they stopped having children and
replicated the work patterns of men. But the equality would last only one generation and then
it’s over!”
(Sheila Regahar: Economic Gender Equality Indicators,
1998)
___________________________________________

My super hot wife achieved economic equality with men immediately upon getting a job after University.

She then produced a couple kids directly thereafter.

I guess I married Superwoman…

#238 Fleabitten Monkey on 01.30.17 at 2:31 pm

So with C Clarkes recent announcement to exempt foreign buyers with work permits from the property transfer tax one would think she is in the clear to implement the tax province wide….wait for it.

#239 Kevin's Fanzone on 01.30.17 at 3:12 pm

#237 IHCTD9 on 01.30.17 at 2:24 pm
#231 Jessica on 01.30.17 at 1:41 pm

“Women could achieve economic equality in one generation if they stopped having children and
replicated the work patterns of men. But the equality would last only one generation and then
it’s over!”
(Sheila Regahar: Economic Gender Equality Indicators,
1998)
___________________________________________

My super hot wife achieved economic equality with men immediately upon getting a job after University.

She then produced a couple kids directly thereafter.

I guess I married Superwoman…

___

Hey that’s awesome. I married Wonder Woman. They should do lunch and take a break from the kids a Grandmas.

#240 Reply to #230 on 01.30.17 at 3:13 pm

Well said.

#241 Jessica on 01.30.17 at 3:22 pm

@ #237 IHCTD9 many young women begin great careers after university before having kids. Then child rearing requires them to make sacrifices to those same careers when the children come along. The question is, will your “super hot wife” be able to maintain and develop her career over her working lifetime to the same extent that she could have, had she not had children? Because men’s incomes and careers tend to take off after they have children as they work hard to support their families, while their wives make sacrifices to their own careers for the betterment of their families. The argument here is not about the wisdom of such choices, but rather that the unpaid work of childcare and eldercare leaves many ambitious, intelligent, and hardworking women (and some men) in the 99% over the course of their lives. Whether or not your wife got a taste of an amazing and fulfilling career prior to having children is a moot point. The question is does she have that career now? There is a reason that postpartum depression is a growing epidemic.

#242 Entrepreneur on 01.30.17 at 3:36 pm

#199 crowdedelevator…I will never vote for a Liberal…they have said one thing and done another too many times, even the Chinese group in Victoria will not vote for the Liberals (they were told they would not bring in the hst). Next will be the First Nations People as people are tired of it all.

When it comes time for elections time all the promises in the world. The Liberals had their time as leaders now time for them retire for good.

#243 Entrepreneur on 01.30.17 at 3:42 pm

And voting for a Conservative is like voting for a Liberal, both are the same. People say voting for the NDP is voting for the big unions but where do the unions go with the Liberals/Conservatives. Oh, right, down to Mexico. Noticed T2 comes to Vancouver parade but does not fight for the auto jobs.

So tired of the Liberal/Conservatives back scratching. The only real opposition is the NDP as I can tell right now.

#244 bill on 01.30.17 at 3:46 pm

#230 Metaxa on 01.30.17 at 1:36 pm
just to underline the obvious….
“I like to pay taxes. With them, I buy civilization.”

― Oliver Wendell Holmes Jr.

#245 Johnny Boy on 01.30.17 at 4:10 pm

#233 MF on 01.30.17 at 2:00 pm

#226 Johnny Boy on 01.30.17 at 12:23 pm

Nope. Economy had nearly bottomed when he took office. He came in, signed a trillion dollar stimulus, bailed out those responsible and then ignored everyone who never recovered from his lopsided “recovery” for 8 years. A recovery hampered by Obamacare.

That’s why we have Trump. Obama forgot about everyone outside of New York and California.

Woops

MF

Your Trump boosterism is getting old. Move on. — Garth
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

Clearly I am mistaken, thank so much for your Alternative Facts on this matter.

http://www.factcheck.org/2016/10/obamas-numbers-october-2016-update/

#246 IHCTD9 on 01.30.17 at 4:13 pm

#239 Kevin’s Fanzone on 01.30.17 at 3:12 pm

Hey that’s awesome. I married Wonder Woman. They should do lunch and take a break from the kids a Grandmas.
————–

If Wonder Woman is super hot too, you got a deal. I’ll go along as well, just to make sure everything is gender equal and stuff.

#247 jess on 01.30.17 at 4:29 pm

the rich offshore liars that don’t pay their fair share

PRESS RELEASE: Uber Agrees to Pay $20 Million to Settle FTC Charges That It Recruited Prospective Drivers with Exaggerated Earnings Claims
Agency also alleges Uber misled drivers about its vehicle financing program
For Release

=========
or these types

Below is just a sampling of charges brought against Citigroup and/or its various units since December 2008:

December 11, 2008: SEC forces Citigroup and UBS to buy back $30 billion in auction rate securities that were improperly sold to investors through misleading information.

February 11, 2009: Citigroup agrees to settle lawsuit brought by WorldCom investors for $2.65 billion.

July 29, 2010: SEC settles with Citigroup for $75 million over its misleading statements to investors that it had reduced its exposure to subprime mortgages to $13 billion when in fact the exposure was over $50 billion.

October 19, 2011: SEC agrees to settle with Citigroup for $285 million over claims it misled investors in a $1 billion financial product. Citigroup had selected approximately half the assets and was betting they would decline in value.

February 9, 2012: Citigroup agrees to pay $2.2 billion as its portion of the nationwide settlement of bank foreclosure fraud.

August 29, 2012: Citigroup agrees to settle a class action lawsuit for $590 million over claims it withheld from shareholders’ knowledge that it had far greater exposure to subprime debt than it was reporting.

July 1, 2013: Citigroup agrees to pay Fannie Mae $968 million for selling it toxic mortgage loans.

September 25, 2013: Citigroup agrees to pay Freddie Mac $395 million to settle claims it sold it toxic mortgages.

December 4, 2013: Citigroup admits to participating in the Yen Libor financial derivatives cartel to the European Commission and accepts a fine of $95 million.

July 14, 2014: The U.S. Department of Justice announces a $7 billion settlement with Citigroup for selling toxic mortgages to investors. Attorney General Eric Holder called the bank’s conduct “egregious,” adding, “As a result of their assurances that toxic financial products were sound, Citigroup was able to expand its market share and increase profits.”

November 2014: Citigroup pays more than $1 billion to settle civil allegations with regulators that it manipulated foreign currency markets. Other global banks settled at the same time.

May 20, 2015: Citicorp, a unit of Citigroup becomes an admitted felon by pleading guilty to a felony charge in the matter of rigging foreign currency trading, paying a fine of $925 million to the Justice Department and $342 million to the Federal Reserve for a total of $1.267 billion. The prior November it paid U.S. and U.K. regulators an additional $1.02 billion.

May 25, 2016: Citigroup agrees to pay $425 million to resolve claims brought by the Commodity Futures Trading Commission that it had rigged interest-rate benchmarks, including ISDAfix, from 2007 to 2012.

July 12, 2016: The Securities and Exchange Commission fined Citigroup Global Markets Inc. $7 million for failure to provide accurate trading records over a period of 15 years
January 19, 2017 (federal trade commission)

—————————–

#248 jess on 01.30.17 at 4:31 pm

Transfer Pricing and Profit Shifting: What a Minnesota mining lawsuit teaches us about global trade (30 Jan 2017)
http://www.idahostatesman.com/news/business/article129324459.html

#249 acdel on 01.30.17 at 4:51 pm

#164 Global Golfer

Great point, thanks!

I was not attempting to group all of them into one; my point that I was trying to express is the anger out there in the work force that is so evident to them, what is really happening behind the scene’s regarding the suppression of wages, cost of living, outsourcing etc.

I hold no grudge to all the doctors, engineers, lawyers, small business owners, etc that do well, congrats to all of them. What is pissing me off is how the corporates are treating the people who helped get to where they are only to be cast aside at the first sign of trouble; look what happened in Alberta’s oil industry and now they are having problems finding people to fill the jobs they quickly dissolved.

#250 Metaxa on 01.30.17 at 5:09 pm

@ #241 Jessica:

I get you.
I comprehend.
I don’t need to torque your clearly written position to fit my agenda.

The environment has been conditioned to favor the least thoughtful among us.
This little chat room being exhibit #1, eh?

Please don’t feel we all are such.

I wouldn’t be half the person I am without the 42 years of support and contribution my wife has provided myself, my children and our family and various businesses for decades.

#251 MattL on 01.30.17 at 5:20 pm

My wifes work is anything but unpaid. She lives the same lifestyle I do and has claim to half my net worth. Taking care of a 1%rs kids is very lucrative. And yes, it would be hard to do what I do without her.

Stay at home wife of low wage earner, ya that must suck.

#252 1 step foward 2 steps back on 01.30.17 at 5:25 pm

B.C. to lift foreign-buyer tax for those with work permits

http://www.theglobeandmail.com/news/british-columbia/bc-to-lift-foreign-buyer-tax-for-those-with-work-permits/article33821689/

#253 dutch4505 on 01.30.17 at 5:44 pm

dual citizens (cdn/usa) that live in Bellingham, WA. Work in health care. A lot of 1% CDNs (and non 1%) come to Bellingham, Seattle for surgery.

#254 jess on 01.30.17 at 5:49 pm

rule of 70
https://theconversation.com/why-wall-streets-dow-20-000-is-totally-meaningless-70449

========

#255 Deplorable Dude on 01.30.17 at 5:51 pm

Don’t understand this argument about ‘unpaid’ mothers at home?

They get free rent, food, clothing, vacations, bill’s paid for, and 50% of their partner’s net worth if they split.

Where do I sign up?

#256 report from the tri-cities area on 01.30.17 at 6:00 pm

Some listing coming on the market in Burke Mountain area (Coquitlam)

Very surprised to see listing for 3bed/3bath townhouses are up again ~ +- 700,000 now – up from listing prices of 650,000 in the Fall.

All the people that bought up there post 2012 (when the building started) bought around +-400,000 for the same unit and now see listings @ 700,000.

No sign of a bust yet.

#257 Metaxa on 01.30.17 at 6:05 pm

Don’t understand

Where do I sign up?

There, I fixed that for you.

#258 acdel on 01.30.17 at 6:16 pm

Hey Garth,

After all this seriousness regarding your latest blog, I have to say that the pic representing your recent blog absolutely represents my dog, I love it! :)

She is such a ham and she loves you!

#259 jess on 01.30.17 at 6:44 pm

rule of 70
https://theconversation.com/why-wall-streets-dow-20-000-is-totally-meaningless-70449

========
Troubled Asset Relief Program
CPP & CDCI Institutions
As of December 31, 2016
Hardest Hit Fund (HHF) report to congress page 6
https://www.treasury.gov/initiatives/financial-stability/reports/Documents/2016.12%20December%20Monthly%20Report%20to%20Congress.pdf
====================================
What is the Donald going to do with this agency?

“In 2010, following the global financial crisis, Congress created the CFPB as
part of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010

A coalition of 17 attorneys general filed a motion on Monday to intervene in a federal appeals court case on whether the structure of the Consumer Financial Protection Bureau is constitutional….The CFPB’s purpose is to provide a single point of accountability for enforcing federal consumer financial laws and protectingconsumers in the financial marketplace. In addition to exercising centralized enforcement power, the CFPB is responsible for interpreting consumer financial legislation and regulating the marketplace for consumer financial products.In creating the CFPB, Congress recognized that the financial crisis was the result, in large part, of regulatory failures in the existing mortgage lending marketplace and fragmented authority over consumer financial protection laws…”

http://www.mass.gov/ago/docs/press/2017/20170123-phh-cfpb-motiontointervene.pdf

#260 jenarru on 01.30.17 at 6:51 pm

My husband and I are collectively in the 1%. I don’t begrudge Brad his success, and I don’t think that was the point of the upset. The issue is that Canada is supposed to have public health care, and that in such a system, no one should not be able to pay to get better care. In fact, this exactly reflects a key criticism of a public-private system: that people will be able to pay for better care, and it will diminish the quality of the care that’s available to those who can’t afford it. I would say to Brad that if you want top of the line, go fully private in the US. Canada is a public health care system – a system I’m guessing your poor parents benefited from greatly.

#261 crowdedelevatorfartz on 01.30.17 at 7:44 pm

@#260
Unbelievable
You’re missing the point.
The “public” health care system will pay the same doctor, nurses, anesthesiologist, etc to perform the operation.
The only thing different is HE is paying for a more “expensive option” of ceramic vs steel hip.

His choice, his money. Doesnt cost the public health care system an extra dime in time or expense. Doesnt create a two tiered system. Doesnt steal doctors away. from the public system
He’s just an “upgrade” on a part .
For example
Do you want Pirelli tires or Motormaster tires on your car when it’s in the shop getting new tires?
It costs the same to change them. Same mechanic, same shop, you waited in the same line as everyone else…..Its just the tires that cost more ….and THAT is the choice of the owner who through hard work or luck can afford the upgrade.

Everything else about the “tire change” remains the same…..

“Prune face” should have picked a richer husband or saved her pennies for a ceramic hip.
And since I’ve never had an operation OR an expensive visit to a doctor
Its probably my taxes and other peoples taxes that paid for “prune face’s” new hip…..
She should send me a Thank You card when she gets out of Post -Op.
I deserve it

#262 Linda on 01.30.17 at 8:51 pm

#114 AB Boxer – I think your post just proved my point. If the citizens of a country ‘have’ to own guns to keep their government from treating them badly…… That being said, I agree that the fact the citizens of the USA are armed may keep the excesses from going overboard – or not.

#263 Eyeguy on 01.30.17 at 9:07 pm

Garth, you’ve identified Canadian 1%’ers based on income per year. Who are the 1%’ers based on net worth?

#264 Doug in London on 01.30.17 at 10:29 pm

@MF, post #236:
Would the US economy have recovered any better had there been a Republican government? Recall that the Republicans were in government when the subprime mortgage collapse and financial crisis occurred in the first place.

#265 Rebs on 01.31.17 at 10:29 am

I see graffiti sometimes around our city “eat the rich”. I feel like writing below it “then who would pay for your welfare?”. But I don’t vandalize things…

#266 Dubai Off Plan on 01.31.17 at 11:43 am

Safe to say that this is a rather thought provoking topic. Interesting times ahead seem likely.

#267 T.J.BONES on 01.31.17 at 1:51 pm

Sir Garth:
I would hope that the Pup (dog) isn’t dead. Just saying?? It’s a picture that can interrupted both ways! Not that I am being nasty. I sure hope that the pup is just having a roll in the snow.

#268 Prince Polo on 01.31.17 at 9:17 pm

140 Millennial Investor

Re: 113 JYD

Most professional women I know (myself included) refuse to work 60 hour weeks & work ourselves into an early grave for a few extra nickels. I could be a 1%er but I choose to work 3 days/week and take 4-5 vacations per year. So I maintain balance and earn just 150k :)

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

Wholey molely! With that kind of cheddar, I’d be happy to play the supporting role of “stay-at-home-dad”. These guys who worry about their partner making more money than them, are really clueless!! I’m thinking Garth could even provide the appropriate workout regime to fulfill the abs of steel that any trophy husband should have.

#269 Dan on 02.01.17 at 5:15 pm

Well, rich should go to private clinics and poor should have free health care. Because rich are rich because of poor.