High anxiety

Well that was no surprise. Stock markets took their worst one-day jolt since the US election on Monday, with triple-digit sheds in Toronto and New York. We told you it was coming. And to ignore it.

Donald Trump will be the inflation president, but also the king of volatility. If you have an all-stock portfolio, ensure an adequate supply of Tums is on hand. Download Leonard Cohen. Get a black lab. Buy yoga pants. Immediately stop reading this blog.

For the rest of you, there’s a predictability about having an unpredictable guy in the wheelhouse. It’ll bring significant investor opportunity on the way to higher markets. Trump’s a business guy. His cabinet is full of fossilized billionaires, senior execs, Goldman Sachs honchos, hedge fund managers and dudes that personify the status quo of capitalism. From this gang you can expect an historic pro-business agenda feeding US corporate profits. If he does carry through with a 20% corporate tax cut, it’ll be positively Kardashian.

So why did stocks lose ground Monday, while bonds and gold went up?

Easy. We all know he’s rash, impulsive, headline-seeking, impetuous, indefatigable and utterly inexperienced in governing. The Muslim ban was a big mistake. Picking a fight with Mexico was stupid. The wall is idiocy. Pissing off China is intemperate. And there’s lots more to come – governing not through the political process, but by hasty executive orders that can be dashed off without consultation or compromise. This is a formula for trade and foreign policy disasters. So, expect some.

For example, a senior Canadian military officer told me on Monday, if the Quebec City massacre had happened on US soil Sunday night, the Trumpian response would likely “have been devastating.” Expect that, too.

Now most Canadians (typical) see only the danger in all of this, not the opportunity. Witness the latest Nik Nanos poll done for Bloomberg

Household confidence among Canadians just fell to the lowest level since the US election period as Trump started talking about a 20% border tax, axed the TPP free trade agreement and mused about renegotiating NAFTA. People are worried. Since election night the share of folks who say the economy will get worse has climbed a dramatic 9%, now sitting at 33%. That’s a big premium over those who believe things will get better (21%).

“This is a noticeable drop coincidental with the U.S. election and focus on the Trump Administration looking to renegotiate the Nafta” trade pact,” says Nanos. And ditto for personal finances. Just under 29% say they’re worse off now than a year ago – an astonishing result given that last year investment portfolios rocked, house prices went up and oil prices doubled. Of course at the same time, Canadians grossly overspent, bought real estate at the peak and walked into record levels of debt.

Meanwhile the mainstream media is showcasing the hate-Trump sentiment that sparked widespread travel ban protests on the weekend, further painting the new president as an demagogic bully whose racist, xenophobic, isolationist nature is being revealed. What’s abundantly clear is that we’re in for a few years of divisive politics that could rend the social fabric of the world’s dominant country. We’ll also see some trade wars. Maybe a real one, too.

Thus, volatility. But also a unique time to make money.

Donald Trump is unlikely to measure his presidency in terms of how more people came to enjoy health care, how greenhouse gas emissions were curtained, how many desperate refugees were saved, how America grew in global respect or the male-female wage gap was closed. Forget that. Not important. Loser issues.

Instead it will be gauged by GDP expansion, corporate profitability, labour market participation, wage growth, energy self-sufficiency, job creation, car and house sales and equity market records. The rash cut in regs, corporate tax slash, repeal of banking controls and border barriers are all means to the same end – an economy on steroids. Bigger. Fatter. Greater.

As an investor it would be unwise to reduce your US exposure given what’s sure to come. So load up on those ETFs before you paint your ‘Trump’s a Fascist’ sign and protest for human rights and social justice at the US embassy.

Just in case.

168 comments ↓

#1 Trump is a hero and anti establishment on 01.30.17 at 6:49 pm

Believe the opposite of what the corporate media is telling you. They are twisting facts and making alot of noice about nothing. Travel ban affected 209 or less people out of 325000 travelers. The real anger is from tech companies who wont be able to exploit foreign workers and thus will have to pay Americans workers a higher wage. This is what the protest is all about. The corporate media manipulating the masses to do corporate bidding.

#2 Pepito on 01.30.17 at 6:51 pm

Predictions at this point are foolish, and investing on the belief wall street will benefit is gambling. This is probably as good a time as any to quietly move to the sidelines for the next little while and watch what unfolds. Prudence and caution is what I would suggest.

#3 a senior Canadian military officer on 01.30.17 at 6:52 pm

“… a senior Canadian military officer told me on Monday, if the Quebec City massacre had happened on US soil Sunday night, the Trumpian response would likely “have been devastating.” Expect that, too.”

Like what?

#4 What The World Needs Now on 01.30.17 at 6:52 pm

https://youtu.be/lSBrn6wTZSA

#5 In other words on 01.30.17 at 6:53 pm

Nobody has a clue what else Trump could have up his sleeves and possibly pull tomorrow, next week, next month…

Who is going to invest inside the US in this climate? You never know where or who the administration is going to hit next. Trump wants to bring corporations “home”? The opposite just might happen. US corporations leaving the US and securing clients and business share elsewhere.

The world doesn’t revolve around the US. Not anymore. Trump’s “divide and conquer” approach with single EU states is very transparent. The EU needs to stand much stronger than before and show the guy his limits and possibly the door.

Good luck Trumpians trying to roll back decades of globalism in an interconnected global economy during the age of virtual currencies and virtual trade.

#6 Darryl on 01.30.17 at 6:56 pm

If there is war with China ( Gina ) I doubt the markets will do well . Although I’m sure its an inevitable outcome . I’m sure the US is thinking that the longer they wait the stronger China will get.

As if China isn’t thinking about becoming the new world super power and kicking US Butt in the future . And the American people finance their own demise so that they can get cheap product.

Just sayin .

#7 Jacques Strappe on 01.30.17 at 6:57 pm

My portfolio is 95% equities, which has served me well over the past 5 years. I’ve thought about moving another 15% to safe stuff, but over the long run equities will outperform bonds. And, as Garth said, inflationary times ahead. So, who the hell knows?

#8 Impenetrable Bubble on 01.30.17 at 6:58 pm

Waiting for the commentary on Christy Clarks tweaked – soon to be eliminated after the election – foreign buyers tax. It might be the death knell of Vancouver’s correction – and BC’s by extension – before it even begins.

I guess governments can really keep the party going indefinitely – 14 years and counting in BC since prices started their stratospheric ascent.

#9 AB Boxster on 01.30.17 at 7:07 pm

Yes, the media and social warriors were out in place
to cover the obviously racist and unfair ban.

So many immigrants, who had endured months of hardship to reach the US, fleeing a tyrannical country were stopped at the border and prevented from entering the US.

The current president was branded a xenophobic racist by the MSM and this financial blog. Thousands protested, wailed and decried the lack of humanity.

But the problem is, none of this happened.

Well, except if you count the over 1000 Cuban migrants that are now marooned in Mexico following the Obama government executive order earlier this month.
Using the same executive order to stop Cuban exiles from entering the US.

The rest of it, the social outrage, the branding of the president as uncaring, racist xenophobe, the insufferable righteous coverage by the press, the tears of grief at the loss of American values and openness…
well they never occurred.

This blog, didn’t even mention it.

Huh. Go figure.

Must have just been an honest oversight in the media and the lefty supporters.

I’m sure they’ll get right on it now that they know.

#10 Capt. Serious on 01.30.17 at 7:07 pm

I read today that they’re now looking at other visitor visas. This could get ugly. B1 visa is apparently on the list being reviewed. B1 is the one you get when you go to do most mundane business related activity in the USA (meetings, conferences, visit another company office, etc). Not very business friendly.

#11 Chico on 01.30.17 at 7:08 pm

Is this really going to become a fertility/finance blog like you hinted at yesterday? You really rocked it Garth. You’re like the fertility king of finance, making good things sprout up everywhere.

#12 AK on 01.30.17 at 7:10 pm

“Trump’s a business guy. His cabinet is full of fossilized billionaires, senior execs, Goldman Sachs honchos, hedge fund managers and dudes that personify the status quo of capitalism.”
——————————————————————-
Beats politicians any day.

#13 Debtslavecreator on 01.30.17 at 7:13 pm

Dow will touch 40k in 2018 or 2020
Only question is path
But a strong DOW rally will also trigger a sharply rising yield picture in the US and global mortgage rates will trend sharply higher
RE and bond proxies perform really badly but growth companies do very well
Military and cyber warfare along with infrastructure will be tops – as will the USD. Prepare for .55-.60 CAD by mid 2018
Very rough seas ahead for Canadstan. Stagflationary recession. This will not end well at all. Too much money flowing into the USD and US shares will trigger massive defaults on USD debt outside of the US and eventually choke off the US economy because no one will be able to afford anything American
Enjoy the Trump regime while the lunatic lasts – what follows in 2020 or less likely in 2024 will make Bernie Sanders look like a mild socialist
Don’t lose hope – we will get past this.

#14 AK on 01.30.17 at 7:13 pm

“Easy. We all know he’s rash, impulsive, headline-seeking, impetuous, indefatigable and utterly inexperienced in governing. The Muslim ban was a big mistake. Picking a fight with Mexico was stupid. The wall is idiocy. Pissing off China is intemperate.”
——————————————————————
True. 80% of his administration has yet to be confirmed. The Dems are dragging their heels. Things should smooth out once his advisors are on his side.

#15 Bezengy on 01.30.17 at 7:15 pm

I crossed over the Ambassador bridge last April. I didn’t think it would be a problem being a white 53 year old with no record. I was detained for 4 hours, and interrogated. No reason given. The nice border guard told me I was an “Alien in a Foreign Country” and I should not expect to enter the country without a itinerary of exactly where I would be at all times. Should I have blamed Obama?

#16 Sunburned canuck on 01.30.17 at 7:15 pm

There is no need for Canadians to despair. Remember a year ago the majority of Canada’s citizens voted for Mr. Trudeau who gained a reputation as a rock star on the world stage. With his high level of admiration and acumen for policies, Trump will have to negotiate hard to overcome Mr. Trudeaus capabilities.

#17 For those about to flop... on 01.30.17 at 7:19 pm

#8 Impenetrable Bubble on 01.30.17 at 6:58 pm
Waiting for the commentary on Christy Clarks tweaked – soon to be eliminated after the election – foreign buyers tax. It might be the death knell of Vancouver’s correction – and BC’s by extension – before it even begins.

I guess governments can really keep the party going indefinitely – 14 years and counting in BC since prices started their stratospheric ascent.

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

In the meantime these guys have got a decision to make…do they take the first decent offer ,or wait for possible greater riches as Cabbage Patch Clark tries not to burn dinner…

M42BC

32552 Ridgeway Street, Abbotsford

Oct 13:$799,000
Jan 29: $748,900
Change: – 50100.00 -6%

https://evaluebc.bcassessment.ca/Property.aspx?_oa=QTAwMDBGNk0yQg==

102-3250 ST JOHNS ST PORT MOODY

Jan 10:$469,000
Jan 29: $439,800
Change: – 29200.00 -6%

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

#18 Sebee on 01.30.17 at 7:31 pm

A drivers license is a privilege and not a right. Can someone explain to me please why entering a country as a guest is a right and not a privilege?

Can someone explain to me how securing a country’s border is a something that a country shouldn’t do?

I just don’t understand all the outrage myself.

#19 Doug t on 01.30.17 at 7:31 pm

Nationalism not globalism – more to come and high time. The worlds been waaaayyy to PC and extreme liberalism has done nothing but get everyone wrapped up in a ptsd blanket and given a comfort goat.

#20 acdel on 01.30.17 at 7:37 pm

#1 Trump is a hero and anti establishment

Good post, the snowflakes (Hollywood hypocrites and others) are panicking; but it is not about that, whether one believes in the Trumps ways or not, it is about finding a fair common ground for all. The old ways are not working (for most average folks) and if continued will cause massive upheaval, it has already started, it will be an interesting future! Yep, the popcorn is buttered and ready! Be smart about it!

#21 Rexx Rock on 01.30.17 at 7:37 pm

All homeowners in Victoria think the economy is doing awesome.Many co workers have bought new cars,a couple of them said oh why not I just made $150,000 on my house in a year!Good times in Victoria,restaurants full,stores full,new cars and houses sell like hotcakes and everyone’s going on a nice winter vacation.Right now Victoria is like Fort Mcmurray at $140 bl.Come to Victoria where the streets are paved in gold!!

#22 Broke With The GTA Housing Market Today on 01.30.17 at 7:38 pm

I live in the GTA and make a few thousand less than a 1%er. Gen Xer, married, kids, dog. Today we decided to end our relationship with the Canadian housing market. That’s it, we are not buying in this market, it has gone from ridiculous to delusional. I am not sure who is actually buying these days, because if people like me can’t afford a house in the GTA, who can? We have just under a million in savings and investments, we own outright a house abroad, have zero debt and live a financially disciplined life, mixed in with a bit of fun from time to time. But this market, is not for us. I look around and see people drunk from the “realtor and media” FOMO koolaide but not us, this is one less person in the market.

#23 jess on 01.30.17 at 7:40 pm

American industry is more highly concentrated
Need a pharmacy? Americans have two main choices. A plane ticket? Four major airlines. They have four choices to buy cell phone service.” ….

Make More Than a Thousand Bucks an Hour Peddling Mega-Mergers
The economists are leveraging their academic prestige with secret reports justifying corporate concentration. Their predictions are often wrong and consumers pay the price.
by Jesse Eisinger and Justin Elliott, ProPublica
November 16, 2016
https://www.propublica.org/article/these-professors-make-more-than-thousand-bucks-hour-peddling-mega-mergers

#24 losing it.... on 01.30.17 at 7:43 pm

DELETED

#25 conan on 01.30.17 at 7:44 pm

We need to look to our young people to fix the planet. Getting obvious it is not going to be Trump.

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

#26 mark on 01.30.17 at 7:50 pm

I think for the valuations, Emerging markets will earn 3X what the USA Total market will return in the next decade, Go XEC.

#27 Lulu on 01.30.17 at 7:50 pm

And while in Toronto hotter than hot plate RE this just happened… lol

https://themash.ca/realestategossip/2017/1/and-it-went-for-62-king-edward-avenue-woodbine-lumsden

24% increase in just 3 months….

Next stop… MARS!

#28 Year of the Fire Rooster on 01.30.17 at 7:51 pm

This year will be a financial roller coaster for the stock market and the year the real estate market crashes in Canada. There will be much financial loss for those who don’t know what they are doing.

#29 Poster #1 Has Got It Right! on 01.30.17 at 7:53 pm

Do people actually believe these tech giants care, it’s all about money $$$$$$

#30 Figmund Sreud on 01.30.17 at 7:54 pm

Well, … Scott Adams – of Dilbert fame, is having fun with Trump!

Snip:

I’m having a fun time watching President Trump flood the news cycle with so many stories and outrages that no one can keep up. Here’s how the math of persuasion works in this situation:

1 outrage out of 3 headlines in a week: Bad Persuasion

25 outrages out of 25 headlines in a week: Excellent Persuasion

At the moment there are so many outrages, executive orders, protests, and controversies that none of them can get enough oxygen in our brains. I can’t obsess about problem X because the rest of the alphabet is coming at me at the same time.

Outrage Dilution
http://blog.dilbert.com/post/156399716951/outrage-dilution

… enjoy his other rants, too! [ … or not.]

Anyway, … a substitute for Lenny:

Fool’s Overture
https://g.co/kgs/lzhKxs

F.S. – Comox, BC.

#31 Tudor on 01.30.17 at 8:01 pm

Reformed broker had a pretty good take on this today: If US stops being a nation of laws and is ruled by decree, it’s not much better than a banana republic. Anyway, the risk seems to the downside — rebalanced accordingly.

#32 Ernest on 01.30.17 at 8:03 pm

No borders. No nations. No clue.
Do you lock your front door at night? Hater!
Do you have an alarm system at your house? Xenophobe!
Do you ask who’s ringing your doorbell before letting a visitor in? Rotten bigot!
That, essentially, is the reaction from the politically charged left to President Trump’s executive order about admitting people from certain countries into the United States. The unhinged outrage from Trump-haters – and there are a lot of them – puts the interests of non-Americans over the security of our citizens. And the administration’s botched roll-out of the new restrictions gave opponents just the excuse they needed to bellow.

#33 Nonplused on 01.30.17 at 8:04 pm

Garth, come on.

There is no “male-female” wage gap in Canada, and you as an employer know this because you know your ass would be in a sling if you didn’t pay your female employees the same as your male employees for doing the same job. The only reason there is a “wage gap” at Turner investments is because both of your partners are men. With only the 3 of you, that’s pretty statistically possible. Want to fix it? There are plenty of competent female financial advisers. Hire one if you haven’t already.

Greenhouse gas emissions (I assume you mean CO2) can only be moved from country to country, they will never be reduced (until the fossil fuels run low at which time it won’t require legislation). The oil and gas is gonna come out of the ground the only question will be “who benefits”. I’m happy with it being me. It’s freaking cold in my house at night when my computerized thermostat kicks in and I don’t think I want it any colder, thank you. I already have all the modern insulation so short of burning wood there isn’t much more I can do. Guess what? Burning wood emits CO2 (the “C” is what plants including trees are made of) but also creates huge amounts of smog if everyone is doing it. Kananaskis is a popular camping destination in southern Alberta, maybe around 600-700 camp sites, surrounded by mountains, and guess what you can see driving in at dinner time on the weekend? Wood smoke smog.) So let’s drop the CO2 thing, it fixes itself in 50 years and we aren’t going to like how it does it. Sure, I’m being selfish by not letting the Chinese get the fuel cheap because I don’t buy it and prefer to wear a sweater even when I’m sleeping, but so be it. I have the money, I get the fuel. That’s how the free market works. Anything else is communism.

So on to Trump.

Bill Clinton proposed a “fence” and vowed to get tough on illegal immigrants. (applause)

Barack Obama banned Iraqi immigrants for 6 months.(applause)

Trump uses Obama’s law to ban potential terrorists for 6 months while he fixes the vetting system. (Booos)

Trump proposes to actually build Clinton’s “fence” (he calls it a wall). (Booos)

Trump has stated he will stop “illegal” immigration. What part of “illegal” don’t these people understand? These “illegal” immigrants really are taking my daughter’s summer jobs. It’s a disgrace.

I’m fine with legal immigration though. Immigrants who follow the law should have fair treatment.

But what’s happened here is that Soros has gone senile in his old age. Policies he supported under Clinton, Bush, and Obama he now can’t stand under Trump, because Trump is actually implementing laws his predecessors crafted. It’s simply crazy, and the way the media is covering it is simply insane.

What’s happened is that people who don’t like the Donald have gone so crazy they can’t even remember they used to support the exact same policy. Not even Bill or Barack. George has stayed wisely silent.

#34 palebird on 01.30.17 at 8:04 pm

#2 and #5

The EU has no balls. And that lovely union (european) is over. Trump will run right over them. There is going to be a huge spike in the US dollar and Dow. Sit on the side lines and cry.

#35 Naaaaaah on 01.30.17 at 8:07 pm

The MSM is spreading FAKE NEWS again….they want to see Trump Fail.

We will win again…we will laugh again!

#36 PR on 01.30.17 at 8:09 pm

…The Muslim ban was a big mistake… (Not true)

CLAIMED ‘MUSLIM BAN’ EXEMPTS EIGHTY-SEVEN PERCENT OF MUSLIMS
So Trump’s reform policy only impacts one of every eight Muslims worldwide
Eighty-seven percent of the world’s 1.6 billion Muslims are not affected by President Donald Trump’s Friday decision to temporarily withhold visas from citizens of seven Middle Eastern countries.
Approximately thirteen percent of the world’s Muslims, or 199.4 million out of up to 1.6 billion, live in those seven countries, according to a 2015 Pew Research Report, “The Future of World Religions: Population Growth Projections, 2010-2050.”

#37 Sideshow Rob on 01.30.17 at 8:09 pm

“the mainstream media is showcasing the hate-Trump sentiment that sparked widespread travel ban protests on the weekend, further painting the new president as an demagogic bully whose racist, xenophobic, isolationist nature is being revealed.”

And this is exactly why the lamestream media has lost all cred except from the flaming lefties. Riddle me this Batman… when did Islam become a race? And while you are at it maybe someone can give me the Arabic translation for the word “Hijrah”. Google seems to be broken. It says it’s a trojan horse migration for the purpose of conquering foreign lands. As in migration for the Cause of Allah. And it is obligatory on all Muslims directly from commandments in the Koran UNTIL ALL LANDS ARE SURRENDERED TO ISLAM. Na. That doesn’t sound like any western countries I can think of.

A reader of this blog offers this explanation: “The word “hijrah” means “migration”. In terms of Islamic history, it refers to an event that took place about 1,400 years ago when the prophet Muhammad migrated from Makkah to Madinah to flee the repeated attempts to assassinate him. He was being targeted for assassination by certain people who did not like his preaching monotheism (similar to the opposition faced by other monotheistic prophets like Noah, Abraham, Moses, Joseph, Jesus, John, Ezekiel, etc.).” — Garth

#38 Warren - the lagging indicator on 01.30.17 at 8:13 pm

So, to my previous question, Has Christy clark actually been acting to circumvent the policies put forth from the Federal level wrt the housing bubble or has she been working with upper levels in order to moderate the impact on the housing decline in BC. I know you think this is a naive question Garth but not all of us were political wants straight from the womb you know.

#39 MF on 01.30.17 at 8:15 pm

#245 Johnny Boy on 01.30.17 at 4:10 pm

http://www.factcheck.org/our-staff/

-A web site written and maintained by a bunch of academics and journalists that disagrees with -insert name-‘s policies.

Who would have thought?

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

This is the current political climate and people have varying views of all politicians. The other poster presented an argument, I responded. Both were respectful. I’m sorry but we don’t all blindly believe he is “an demagogic bully whose racist, xenophobic, and isolationist”.

MF

#40 WhoLikesShortShorts on 01.30.17 at 8:15 pm

Which president has been impeached the quickest? Asking for a “friend”.

#41 Looney Baloney on 01.30.17 at 8:17 pm

DELETED

#42 TrumpForTheAges on 01.30.17 at 8:17 pm

Markets are currently priced at the high end of normal valuations so some form of a correction is to be expected. However…..US GDP growth for 2016 came in at an annualized rate of 1.6%….the lowest since the collapse in 2008/2009.

The Trump factor is only going to make matters worse. Trump is operating on an old paradigm….the one where countries were highly dependent upon the US. That simply isn’t the case anymore. Russia can supply China with its energy needs and those transactions do not need to settle in US dollars. So as Trump behaves like he can bully these countries around expect retaliation and tariffs that ultimately slow growth at a critical time when US has to accelerate it.

With a Federal debt level at $20 T and counting…brace yourselves for some tough times ahead.

#43 Doug t on 01.30.17 at 8:18 pm

#21

The huge homeless population would disagree

#44 hope & ruin on 01.30.17 at 8:25 pm

Witness the latest Nik Nanos poll done for Bloomberg

Household confidence among Canadians just fell to the lowest level
___________________________

Polls?? Those guys are still employed?

#45 FR on 01.30.17 at 8:32 pm

I’m conflicted. We’re all gonna make money off fascism? This is worrisome. But personal security will likely TRUMP personal values. And that’s why we’re all
in this big mess.

Porsche drivers – everyone.

#46 Will on 01.30.17 at 8:34 pm

#22 Broke With The GTA Housing Market Today on 01.30.17 at 7:38 pm
I live in the GTA and make a few thousand less than a 1%er. Gen Xer, married, kids, dog. Today we decided to end our relationship with the Canadian housing market. That’s it, we are not buying in this market, it has gone from ridiculous to delusional. I am not sure who is actually buying these days, because if people like me can’t afford a house in the GTA, who can? We have just under a million in savings and investments, we own outright a house abroad, have zero debt and live a financially disciplined life, mixed in with a bit of fun from time to time. But this market, is not for us. I look around and see people drunk from the “realtor and media” FOMO koolaide but not us, this is one less person in the market.


real estate is not a spectator sport
and in the long run it always performs well
I’ve been reading here since 2008
in that time iv’e sold a few times in TO
i ALWAYS buy back in
TO has room to go up thanks to the finance minister recent changes in rules,
I have houses so Im not in the market
but If I had none I would buy in TO for sure
the gov and banks are doing everything to inflate the market, it will not stop
people are refusing to sell- no one wants to be on the buying end!
there is no logic to the market
it’s basically a rush to hard assets
the ‘average’ people have split from TO
its a war on the Canadian family, i wish i was kidding but Im not

if it goes flat like the 90s you just ride it out

#47 Ace Goodheart on 01.30.17 at 8:35 pm

RE: “Instead it will be gauged by GDP expansion, corporate profitability, labour market participation, wage growth, energy self-sufficiency, job creation, car and house sales and equity market records.”

Not so sure about that. This Trumpster guy is out of left field. Like way, way out. He is not the sharpest knife in the drawer. If he does do something useful for US business interests, it will be by accident. He slaughtered them over the weekend with his “Muslim ban” and the resulting chaos this caused in the international business community. Imagine, your best people, contractors you depend on, executives of companies you do vital business with, suddenly not permitted to travel, or stuck in other countries with no way to get home.

What Trump did was convince a number of large international corporations, to locate their most sensitive operations, outside of the USA (ie, in Canada or in Europe).

He destabilised the USA. He took one of the world’s most free, democratic government systems, and he treated it like a central African dictatorship. I mean, governing by decree? In the United States? A country with a functional constitution, a highly trained Judiciary and some of the best lawyers in the world, surrounded by the some of the best Universities on the planet, containing the world’s foremost legal scholars.

And he attempts to govern by executive decrees and orders?

He’s f*’n nuts. And he’s messing up a perfectly good country.

#48 For those about to flop... on 01.30.17 at 8:36 pm

Not too sure if someone already posted this but I found it interesting.

Days until achieving MAJORITY disapproval from @Gallup

Reagan: 727
Bush I: 1336
Clinton: 573
Bush II: 1205
Obama: 936

Trump : 8 days

M42BC

http://www.latimes.com/politics/washington/la-na-trailguide-updates-how-has-the-public-responded-to-1485715449-htmlstory.html

#49 war on 01.30.17 at 8:36 pm

You (and the rest of us) were confident brexit wouldn’t happen. Or Trump would be elected.

Despite Trump’s policies, are you that confident again that he won’t provoke a war? be it a cold one, a trade one, or actual missiles-flying one?

For jobs to actually be created, doesn’t there need to be growth? And capital injection?

So if America is to be successful, does it not follow it must be ‘taken’ from imbalances elsewhere, i.e. the well-being of Mexico, China… and collateral damage ala Canada and everyone else?

Which is a lose-lose for us.

#50 paul on 01.30.17 at 8:40 pm

#18 Sebee on 01.30.17 at 7:31 pm

A drivers license is a privilege and not a right. Can someone explain to me please why entering a country as a guest is a right and not a privilege?

Can someone explain to me how securing a country’s border is a something that a country shouldn’t do?

I just don’t understand all the outrage myself.
———————————————————-
I don’t get it as well,people but up fences around their cookie cutter ‘corn flake’ house to keep their neighbor out of the yard. But if people coming into the country just throw the door open and invite thousands in.

#51 the other side of the Rubicon on 01.30.17 at 8:43 pm

#35 Naaaaaah on 01.30.17 at 8:07 pm
The MSM is spreading FAKE NEWS again….they want to see Trump Fail.

We will win again…we will laugh again!


I thought the fakery would end with H gone, pity.

#52 Balmuto on 01.30.17 at 8:48 pm

“#18 Sebee on 01.30.17 at 7:31 pm
A drivers license is a privilege and not a right. Can someone explain to me please why entering a country as a guest is a right and not a privilege?”

Nobody’s saying it’s a right. The people turned away had already earned the privilege of entering as a guest (many for work purposes) as they obtained visas (the “driver’s license” in your analogy). They went through the proper legal channels to obtain this privilege. Which was suddenly and arbitrarily revoked by Trump in order to deliver his campaign promise of a ban on Muslims. That’s really all there is to it.

#53 };-) aka Devil's Advocate on 01.30.17 at 8:48 pm

#12 AK on 01.30.17 at 7:10 pm
“Trump’s a business guy. His cabinet is full of fossilized billionaires, senior execs, Goldman Sachs honchos, hedge fund managers and dudes that personify the status quo of capitalism.”
——————————————————————-
Beats politicians any day.

Agreed. Now if only they could get rid of the maniacal, douchbag, spoilt, brat, morons, none-the-least of Trump himself, they might actually be able to make America great again.

#54 Smoking Man on 01.30.17 at 8:53 pm

MSM full on war on Trump.

To bad they don’t have the guts to question building 7. The true crime of the century.

I hope trump has enough guts to do it. Them dismantle MSM amd Make America Great Again.

No justice for 911 families no MAGA.

#55 Smoking Man on 01.30.17 at 8:56 pm

Expect a bond bying frenzy over the month.
Bet Accordingly.

#56 Linda on 01.30.17 at 9:02 pm

In defense of Mr. Trump, anyone who says they did not know he was the kind of man he is prior to the election was not paying attention. He did nothing to hide his views or beliefs whatsoever. Anyone who says they didn’t realize what he stood for had to be willfully blind, deaf & yes, dumb. Or stranded in a place with no outside communications during the entirety of the presidential campaign.

#57 Stock Picker on 01.30.17 at 9:11 pm

I’m buying. There are maple bargains galore…..with increased profits they’re set to soar… I don’t like our Petulant Peter Pan PPPM ….telling us he’s going to hammer down a law against speaking up as concerned citizens…..but that will not effect companies like…..oh I can’t say because Garth hates stocks….as much as our PPPM hates free speech and energy.

#58 D C on 01.30.17 at 9:15 pm

Ernest on 01.30.17 at 8:03 pm
No borders. No nations. No clue.
Do you lock your front door at night? Hater!

Not a great analogy. It’s not about the locks/borders. This EO originally immediately limited ‘family members’ (permanent residents) or their ‘friends’ from entering the ‘home.’

#59 "Muslim ban" in Canada on 01.30.17 at 9:15 pm

After 9/11 I was subject of a never declared “Muslim ban” in Canada – as a Canadian citizen.

It all started when at the arrival at the end of the long line up, where the Canadian official took my passport and the white declaration of goods, looked at the computer screen for a few seconds then put an ugly big number with a red pen on it.

On the way out, I was promptly directed to go to immigration, instead of the exit, where my relatives were waiting for me.

After waiting for 4 hours, finally it was my turn.
“Is it your first visit in Canada?” the officer asked when I handed over the white import declaration form.

The question was unexpected and he was equally surprised when I gave him my Canadian passport.

The officer looked at it and asked me why I was sent there. Then asked a couple of questions about my address, workplace, etc. then “Welcome to Canada”.

The same happened every time when I arrived back to Canada by airplane, but never crossing the border by car.

In the last two years this scrutiny was catching up with my wife, though we started to use separate import declaration forms.

Once over the years an immigration officer felt pity for me, he asked his supervisor to come over and check out, maybe he could have access more information to reveal the situation.

No luck there. The supervisor recommended to check with an office just across the entrance of the immigration waiting room. He did not tell what office was that, but I gave it a try.

The office had a dark mirroring window and a closed door. I knocked a couple of times, finally the lock turned, a man opened the door, not very amused for the disturbance.

I told him I was coming here to follow the advice of the immigration supervisor to find out about the situation.

The guy did not identify what branch of the government he represented, flipped through my passport right at the narrow door opening, outside the office, without any curiosity.

“It can be any reason”, he declared in a few second.
I explained that it was unreasonable treatment for a Canadian citizen, even if I was not born here.

Tough luck he nodded his shoulder.

“Can I talk to your supervisor?”

“No. Complain to your MP”, if you really want to, he said with a tone that made it clear that I was only going to waste my time. Sounded like the RCMP or the CSIS if it existed by then.

Eventually my “Muslim ban” ended as suddenly as started, after about a decade.

I am not a Muslim, of course and none of the Canadian prime ministers during those years were called Trump, who is, I hear, a racist, impulsive, headline-seeking, impetuous, indefatigable and utterly inexperienced in governing.

If only President Clinton tweeted for my cause, the racist, unjust treatment might have ended earlier, saving me from suffering, discrimination, human rights violation and quite possible some long term damage to my identity. Did I mention I was totally innocent?

Lucky for me, I am familiar with Kafka’s work, there was nothing new under the sun.

#60 Trump Fans Have Low IQ on 01.30.17 at 9:17 pm

Re #1.

Typical illiterate redneck. Can’t even spell “noise” correctly. Of course you are a trump fan.

#61 Andrew Woburn on 01.30.17 at 9:18 pm

Donald and the Merry Trumpsters apparently want to do it their way which is why it is amateur hour on the Potomac. I assume Putin is taking good notes for his upcoming negotiations.

“The malevolence of President Trump’s Executive Order on visas and refugees is mitigated chiefly—and perhaps only—by the astonishing incompetence of its drafting and construction.

NBC is reporting that the document was not reviewed by DHS, the Justice Department, the State Department, or the Department of Defense, and that National Security Council lawyers were prevented from evaluating it. Moreover, the New York Times writes that Customs and Border Protection and U.S. Citizen and Immigration Services, the agencies tasked with carrying out the policy, were only given a briefing call while Trump was actually signing the order itself. Yesterday, the Department of Justice gave a “no comment” when asked whether the Office of Legal Counsel had reviewed Trump’s executive orders—including the order at hand. (OLC normally reviews every executive order.)”

Yeah I know this was written by a smarty-pants, pointy-head at some obscure think tank who doesn’t get the real people who love Trump but what if he’s right? Would you really want to buy bonds from a country run by a gong show host that has no brake pedal?

https://lawfareblog.com/malevolence-tempered-incompetence-trumps-horrifying-executive-order-refugees-and-visas

#62 Piet on 01.30.17 at 9:28 pm

#53 };-) aka Devil’s Advocate
“if only they could get rid of the maniacal, douchbag, spoilt, brat, morons, none-the-least of Trump himself”

Get rid of Trump and you get Pence and the Christian supremacists. For some this is the underlying plan. Occasionally I watch Christian TV shows as a bizarre form of entertainment. Those folks are simply thrilled with the way things are working out for them.

https://theintercept.com/2016/11/15/mike-pence-will-be-the-most-powerful-christian-supremacist-in-us-history/

#63 KAC on 01.30.17 at 9:32 pm

#21 Rexx Rock

If the Victoria market is as strong as you say, it makes we wonder why so few sellers are raising their asking price when a much larger number are dropping their asking prices. Strange eh?

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

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

http://www.myrealtycheck.ca/

In January there were 14 price reductions versus 8 price increases. When the drops outnumber the increases by almost 2 to 1, that doesn’t sound like a hot market to me.

#64 Fran Lawson on 01.30.17 at 9:36 pm

I wouldn’t call -0.6% (the change in the S&P for today) that volatile. I guess more could come…

#65 ron on 01.30.17 at 9:36 pm

DELETED

#66 yorkville renter on 01.30.17 at 9:36 pm

Trump’s move means one thing- the terrorists won.

#67 Kevin's Fanzone on 01.30.17 at 9:37 pm

The Donald continues to kick ass and taken names

http://fox6now.com/2017/01/30/reports-president-trump-has-fired-acting-ag-sally-yates/

#68 South Etobicoke Trump Campaign Field HQ on 01.30.17 at 9:41 pm

The God Emperor does not yield under the howls and screeches of the chorus of chimpanzees mobilized by old money to protect the establishment interests.

You took on a losing bet with Trump, and have yet to account for your heresy Mr. Turner. Take a page out of Mr. Rowat’s redemption.

#69 Spelling is sexy on 01.30.17 at 9:44 pm

#60 Trump Fans Have Low IQ on 01.30.17 at 9:17 pm

Re #1.

Typical illiterate redneck. Can’t even spell “noise” correctly. Of course you are a trump fan.

Correct spelling is sexy, indeed.

By the way it’s a capital t, for Trump.

Even a typical English as a fourth language common IQ-er knows that.

#70 cramar on 01.30.17 at 9:51 pm

Excellent post Garth.

Wouldn’t it be ironic if Trump is the cause of a Canadian housing market collapse? Unintended consequence (collateral damage) of some “America First” policy that causes major pain in our economy.

#71 isuckless on 01.30.17 at 10:01 pm

Different viewpoint
http://www.israpundit.org/archives/63621072

Canadian viewpoint is not always correct or right one.
Maybe you should either live in Islam governed county or at least talk to people who lived there. Talk to Christians from Lebanon or Syria

#72 Ole Doberman on 01.30.17 at 10:09 pm

A little side note on Calgary, the University City condos appear to be sold out:

http://www.universitycity.ca/

Then you look on Rentfaster.ca and I’m counting 26 units up for rent that aren’t moving, then about another 11 listed on Kijiji – but some maybe an overlap.

You think we have some flippers and speculators in the mix here. Wonder what this will look like when students pick up and leave end of semester in April.

Gartho can you shed some light on this?

thx mang

#73 Show some empathy people!!! on 01.30.17 at 10:09 pm

#45 FR on 01.30.17 at 8:32 pm:
I’m conflicted. We’re all gonna make money off fascism? This is worrisome. But personal security will likely TRUMP personal values. And that’s why we’re all in this big mess.
Porsche drivers – everyone.

I love this post! Seriously, it’s a race to the bottom, stepping on the ‘lessers’ to make a quick buck … through hatrred and fearmongering!!! Good luck to you all making money off the blood, sweat and tears of everyone else. Who’s next amongst us? Sooner or later, we ‘basement dwellers’ with deep pockets (most of us) will be on the end of his magic wand and policies… and who’ll speak for us, when there’s no one left? Let’s not forget history.

#74 Wait There on 01.30.17 at 10:10 pm

When I applied for landed status for my foreign wife it was after 9/11. Our application was already with the Canadian government for months. Then the application forms changed. Despite having waited for months, we had to reapply all over again and start at the back of the line once again.
So what’s the whining about getting visas rescinded and having to be vetted again.
Geez.
All the fuss over nothing. Just like the desert storm Iraq war thing…we all came to realize that the news was fake about the atrocities being committed. I looked at the news and how they report and I wanted to vomit today. mainstream news is all false nowadays.
When I went to graduate business school, I was taught to read and view every story critically and I can say the lessons learned 20 years ago is showing the lies and bias today.

#75 DON on 01.30.17 at 10:18 pm

#70 cramar on 01.30.17 at 9:51 pm

Excellent post Garth.

Wouldn’t it be ironic if Trump is the cause of a Canadian housing market collapse? Unintended consequence (collateral damage) of some “America First” policy that causes major pain in our economy.
******************

I had the exact same thought. YIKES!

#76 Doug in London on 01.30.17 at 10:19 pm

Stock markets took their worst one-day jolt since the US election on Monday?
————————————————————-
In what market? The Tokyo Nikkei? The Hang Seng? The Cairo and Alexandria Stock Exchange? It obviously wasn’t the TSX or NYSE. My stocks hardly dropped at all in value today, some gained. The average 100 car freight train, at full speed, loses more speed as a percentage when it hits a mosquito than my portfolio lost value today. I was hoping for some month late Boxing Day sales.

#77 Leo Trollstoy on 01.30.17 at 10:26 pm

Trump is a media magnet and someone at Starbucks is a marketing genius.

https://amp.theguardian.com/business/2017/jan/30/trump-travel-ban-starbucks-hire-10000-refugees

Who is really going to check if Starbucks actually hires “10,000 refugees”? Likely nobody. But today, STARBUCKS is all over the media like flies on turds.

The cost of a viral campaign like this would be enormous but they got it all for free!

#78 Hotdogs from Heaven on 01.30.17 at 10:28 pm

#16 Sunburned canuck on 01.30.17 at 7:15 pm

There is no need for Canadians to despair. Remember a year ago the majority of Canada’s citizens voted for Mr. Trudeau who gained a reputation as a rock star on the world stage. With his high level of admiration and acumen for policies, Trump will have to negotiate hard to overcome Mr. Trudeaus capabilities.
———————————————–
Sorry to burst T2’s bubble, but the liberals got less than 40% of the vote. Hardly a majority. In fact T2 got less of the popular vote in Canada that either Trump or Clinton got in the U.S.

https://en.wikipedia.org/wiki/Results_of_the_Canadian_federal_election,_2015

#79 InvestorsFriend on 01.30.17 at 10:32 pm

Actually, Driving is a Right in a free country

18 Sebee on 01.30.17 at 7:31 pm said:

A drivers license is a privilege and not a right.

***************************
Untrue, any competent adult with reasonable vision who can pass a road test, and who has not lost the right to drive through bad behavior has a RIGHT to the freedom of a drivers license subject only to certain limitations such as passing a road test and vision test.

What kind of freedom would it be if you could ARBITRARILY be denied a drivers license. You cannot be arbitrairly denied in Canada. Therefore it is more of a right, albeit with limitations and a right you can lose by bad behavior.

#80 Hotdogs from Heaven on 01.30.17 at 10:35 pm

#73 Show some empathy people!!! on 01.30.17 at 10:09 pm

#45 FR on 01.30.17 at 8:32 pm:
I’m conflicted. We’re all gonna make money off fascism? This is worrisome.
——————————————-
Canada is the ultimate fascist state, but you still help support it with your taxes.

Fascism is the notion that society is made up of groups and if you can appeal to a majority of them at the expense of the minority then you get to take power. The individual human being does not matter.

For example, multi-culturalism is a wonderful way of keeping us divided so various groups can be played off against each other. In fact yesterday’s blog was a perfect way showing how Trudeau is now doing that in order to create societal enemies of the financially better off in order to appeal to the less well off majority.

Fascism can often be executed in a subtle way and the Trudeau family are excellent practitioners of the art.

#81 M on 01.30.17 at 10:35 pm

..he he he…u are so amusing Gartho baby :)
Trumpy is very predictable-> he delivers what he promissed.
His cabinet is absolutely fabulous !
.. stocks falling on his watch…bummer…he even told you about…yes YOU Gartho baby, while he was campaigning:

https://www.youtube.com/watch?v=M0zg_Cf4K4w

https://www.washingtonpost.com/video/politics/trump-we-are-in-a-big-fat-ugly-bubble/2016/09/29/b4a3dab0-8644-11e6-b57d-dd49277af02f_video.html

He also admits US is broke:
https://www.youtube.com/watch?v=iCpbMYNQyME

…so Gartho baby, since the real economy is not the NASDAQ, expect a strong dollar to emerge from his policies, a crash in stocks (Trumpy doesn’t really give a damn about it) or at least a 10-20% correction.

…so yeah… what’s NOT to like about the guy ?

#82 His face is orange on 01.30.17 at 10:37 pm

One day, this blog will be over.

Could you have ever predicted when you started this thing 10 years ago that the trumpster would come to stain it ever day. Every day til the end of time the orange faced one will ooze onto these pages…. day after day after day.. Trump hog day

#83 };-) aka Devil's Advocate on 01.30.17 at 10:40 pm

#62 Piet on 01.30.17 at 9:28 pm
#53 };-) aka Devil’s Advocate
“if only they could get rid of the maniacal, douchbag, spoilt, brat, morons, none-the-least of Trump himself”

Get rid of Trump and you get Pence and the Christian supremacists. For some this is the underlying plan. Occasionally I watch Christian TV shows as a bizarre form of entertainment. Those folks are simply thrilled with the way things are working out for them.

No worries. They are easily played…

https://youtu.be/W-e2bptjUOc

#84 M on 01.30.17 at 10:51 pm

@#54 Smoky Mano

Building 7 ?? HA !
Don’t you know that it was them bad terrorists ?
They even fooled BBC in reporting it falling 20 min earlier :)
https://www.youtube.com/watch?v=ltP2t9nq9fI
..but then how hard is to feed BBC crap ?

..about the rest.. Trumpy figured it out pretty quick:
https://www.youtube.com/watch?v=Rt-ldMj9y9w

…ha also knows that you don’t talk about these things :) …when you become prez

#85 would you realy buy bonds on 01.30.17 at 10:53 pm

Would you really want to buy bonds from a country run by a gong show host that has no brake pedal?

Do you prefer buying bonds from a country run by a Communist leader? A former KGB agent? A former member of the FDJ district board and secretary for “Agitprop” (Agitation and Propaganda) at the Academy of Sciences?

#86 NEVER GIVE UP on 01.30.17 at 10:56 pm

#8 Impenetrable Bubble on 01.30.17 at 6:58 pm
Waiting for the commentary on Christy Clarks tweaked – soon to be eliminated after the election – foreign buyers tax. It might be the death knell of Vancouver’s correction – and BC’s by extension – before it even begins.

I guess governments can really keep the party going indefinitely – 14 years and counting in BC since prices started their stratospheric ascent.
=================================
Really what is to stop government from pumping indefinitely. At least until all citizens lives are owned by the banks.

Think about it.

The government can and does unlimited mortgage guarantees so the banks can lend to anyone with a pulse.

The government can even lower CMHC premiums to zero for full mortgage guarantees, backstopped by taxpayers.

The BC Government has a program to loan second mortgages to new home buyers who can’t afford and should not own a home, causing the over one billion dollars in the program to prop up the housing market by exactly One Billion dollars. 100% of benefit to go directly to condo developers.

The Government can increase immigration to any level they want like a tap that influences housing.

The Government can and does turn a blind eye to Money Laundering.

The Government can and does turn a blind eye to foreign ownership without residency and that is the single most egregious crime of all. This turns our housing market into a lottery like the futures market.

Maybe with all of the above we could double the stratospheric prices of Hong Kong and screw all our native born citizens into a servant culture for rich foreign investors who own and rent out our land back to us at maximum market value.

#87 Digby Ditherman on 01.30.17 at 11:02 pm

DELETED

#88 Barina G. on 01.30.17 at 11:35 pm

Stop laughing you jealous sour grapes! Vancouver declines will now reverse.

http://bc.ctvnews.ca/b-c-tight-lipped-about-potential-refunds-for-foreign-buyer-tax-1.3264103

#89 Tedfiftyfour on 01.30.17 at 11:37 pm

Not much financial discussion on this blog, it’s actually scarey reading some of the comments, outright racist, intolerance.

#90 Spectacle on 01.30.17 at 11:52 pm

Interesting video and comment! Aka Devils Advocate!

Relevant in its simple explanation of recent political events, economics, and what the heck we spend our money on. I once wrote an anthropology essay in university using this exact song, Sympathy for the Devil, as the basis. Got an a+ on it and was told to publish it in an anthropology publication for its point. The same point you chose it . Garth & the boys make their observations lucid in their own creative ways…..Thanks
———-

#83 };-) aka Devil’s Advocate on 01.30.17 at 10:40 pm
#62 Piet on 01.30.17 at 9:28 pm
#53 };-) aka Devil’s Advocate
“if only they could get rid of the maniacal, douchbag, spoilt, brat, morons, none-the-least of Trump himself”

Get rid of Trump and you get Pence and the Christian supremacists……Those folks are simply thrilled with the way things are working out for them.

No worries. They are easily played…

https://youtu.be/W-e2bptjUOc

#91 TRT on 01.30.17 at 11:56 pm

Post #1

#1 Trump is a hero and anti establishment on 01.30.17 at 6:49 pm
Believe the opposite of what the corporate media is telling you. They are twisting facts and making alot of noice about nothing. Travel ban affected 209 or less people out of 325000 travelers. The real anger is from tech companies who wont be able to exploit foreign workers and thus will have to pay Americans workers a higher wage. This is what the protest is all about. The corporate media manipulating the masses to do corporate bidding.

People are finally awakening. MSM in a tizzy doing whatever they can by calling Trump supporters racist, etc. ALL FAKE NEWS!!

Either Canada can join the USA-UK Alliance or be left in the dust. The Globalists (really the 0.001% and their dumb minions) are in real trouble.

#92 TRT on 01.30.17 at 11:58 pm

Post #80

Canada is a fascist state run by corporations and not by the people.

But people are finally waking up.

#93 TRT on 01.31.17 at 12:02 am

Trump needs to dismantle the power of the MSM networks. Hit these Fake News Networks hard by forcing a breaking up infrastructure and content providers. Hit them hard so people can get the truth.

CNN the worst.

#94 The Totally Unbiased, Highly Intelligent, Rational Observer on 01.31.17 at 12:24 am

The Mainstream Media is going so absolutely crazy trying to discredit the great and noble American President Donald J. Trump and his many sound-minded policies that it is now trotting out psychologists (also known as “shrinks”) to claim that Donald Trump is mentally ill. This is really rich coming from people who were given the nickname “shrinks” precisely because their little brains had shrivelled up to the point that they had become malignant narcissists who just wanted to talk about other people’s problems for a hundred bucks an hour. On top of dismal economists, and useless politicians, there are now insane psychologists verbally attacking the triumphant Trump just because he wants to make America great again for the good of everyone. To the wise and discerning observer, it is crystal clear that these crazy shrinks must hate not only their own mothers but also their own children and grandchildren as well.

The Mainstream Media is totally frantic and desperate to try to discredit the new American President Donald J. Trump in any way it possibly can and undermine his good and benevolent administration that was established to promote law and order and peace and safety and happiness and all the other good things. But the Mainstream Media is utterly unable to find any fault with Trump honestly and decently using facts and truth, so it has resorted to quoting some of the worst rabble around. It found an old, divorced, English woman by the name of something like Jo K. (for Killer?) Growling who was gnashing her teeth at Trump because he believed in people living responsibly and decently and paying their own way in life. The old Growling woman, on the other hand, wanted American taxpayers to financially support irresponsible people all around the world who screwed around irresponsibly, did not want to be responsible for their own children, actually wanted to kill their own babies, and did not even want to take responsibility for paying the “good” doctors for their “help” in terminating the problems before they grew into even bigger problems, and developed into teenage problems.

The plot thickens, and sickens: The Growling woman had herself gotten rich and become a billionaire by writing half a dozen books about witchcraft and sorcery to corrupt the minds of young children. What would these kids think if they knew and understood that the Growling woman with the sinister smile actually supported snuffing out their type early in their existence, and that if they survived, she just wanted to make a fast buck off them by selling their young, impressionable minds into witchcraft and sorcery?

President Donald Trump is a great American family man (with three beautiful families to prove it) who represents prosperity and all the good things that money can buy. To put this in a right and proper perspective it needs to be contrasted with his opponents, who are basically a “bucket of degenerates”: frustrated, angry losers, rioters, and traitors who hate motherhood, apple pie, and America.

There can be no doubt at all in any reasonable person’s mind that it is obviously time for the Diagnostic and Statistical Manual of Mental Disorders–5th revision (DSM-5) to be totally revised yet again to include such things as baby-killing mania, witchcraft and sorcery obsession, complete irresponsibility, and brain-shrivelled psycho-babble syndrome. Left to their own twisted thoughts, shrinks can start to think that good is evil and that evil is good, and that sane is insane and that insane is sane. Someone needs to interrupt the crazy voices in their heads and straighten them out by putting them in straight jackets and putting them in rubber-walled rooms where they will not pose a danger to themselves or others.

#95 Reply to #84 on 01.31.17 at 12:29 am

Before Trump selected Rex Tillerson to be Secretary of State, I was convinced Trump was going to select Vladimir Putin.

#96 jay on 01.31.17 at 12:34 am

Canada needs to increase immigration of refugees and skilled worker immediately to save economy. http://www.ctvnews.ca/business/trump-may-scare-off-new-investment-in-canada-manufacturing-group-1.3263259

#97 april on 01.31.17 at 12:39 am

#88 – Ross Kay says, the foreign buyer tax won’t be doing what some wrongly believe including you.

#98 Ponzius Pilatus on 01.31.17 at 1:06 am

#18 Sebee on 01.30.17 at 7:31 pm
A drivers license is a privilege and not a right. Can someone explain to me please why entering a country as a guest is a right and not a privilege?
Can someone explain to me how securing a country’s border is a something that a country shouldn’t do?
I just don’t understand all the outrage myself.
——————-
Right on, Brother.
If Trump does not want me, I go someone else.
Why do people wanna go to States, anyway?
Oh forgot, the American Dream.
More like a Nightmare with Trump in charge.

#99 Rook on 01.31.17 at 1:18 am

KAC,
I think Rexx was stating that many Victorians are falsely optimistic of the local economy.
Correct me if I’m wrong.

#100 Entrepreneur on 01.31.17 at 1:28 am

No point giving us anxiety. No one really knows what the future holds even the economist.

Trump is a few years older than me and I resented his privileged lifestyle. I would see him on the news and thought lucky guy. Never hated or disliked him. Now I respect him as he is trying to correct what should have been corrected long ago. President Trump will do fine and might surprise everyone. Ever thought of that!

#86 Never Give Up…Oh, so true, governments can change rules/regulations overnight but too bad it is not for the benefit for the people of that nation.

#19 Dough t…. nationalism not globalism…I agree and I cannot figure out how our leaders cannot see that or just thing of themselves. Globalism takes away rights from people in that nation and takes away more than that, it takes away how people that are the closest to earth the right to speak about what is right or wrong. Oh, the leaders can talk as if they know but when globalism is involved how is that so? pretend talk? to get elected? then ignore the people?

Mixed religions do not work; everyone is too emotional and taught from birth. Look at Ireland, protestant and catholic and it goes on.

#101 Metaxa on 01.31.17 at 1:39 am

# 89 Tedfiftyfour:

Not much financial discussion on this blog, it’s actually scarey reading some of the comments, outright racist, intolerance.

A while back, living in a different town, I knew a retired RCMP guy. He and his partner ran a B&B looking over the ocean.
I’d drop by from time to time just to have a beer and shoot the breeze.
He’d often be sitting, alone, looking out to the horizon with a pretty zoned out look in his eyes.

Turns out he retired with PTSD from the kiddie porn squad (in Toronto, btw), looking at those images, reading those posts day over day, week over week just killed something inside him.

I sometimes wonder if Garth doesn’t see the shift in this comment section and if he does why does he not care.
Maybe he is staring into the middle distance, maybe he is chumming the water and laughing with a good scotch in hand…I dunno.

There is a whole load of posters here who use Garth’s popularity to advance their own misguided points of view without adding much of anything of value, for sure.

Prior to the US election the advice and thoughts presented by Garth and his weekend minions made up for the sometimes off base comments but that is becoming less and less the case now.

I truly value the advice and certainly some of the commentary but all to often I stare into the middle distance myself, asking, “Do I answer to that or let it go?”

I let it go out of respect for our host. Maybe we shouldn’t, eh?

#102 BS on 01.31.17 at 3:12 am

#48 For those about to flop… on 01.30.17 at 8:36 pm

Not too sure if someone already posted this but I found it interesting.

Days until achieving MAJORITY disapproval from @Gallup

Reagan: 727
Bush I: 1336
Clinton: 573
Bush II: 1205
Obama: 936

Trump : 8 days

I guess that means Trump is getting things done faster than any president in recent history?

Note if you use this to rank the presidents, Clinton is last followed by Reagan and Bush I, the only one term president in the group, is first.

1) Bush I: 1336
2) Bush II: 1205
3) Obama: 936
4) Reagan: 727
5) Clinton: 573

#103 MaldroitMonkey on 01.31.17 at 3:14 am

Garth you are saying was the consensus of the market and cause of the rally but it ignores the immense risk that trumps incompetent governance posses as well as strong economic headwinds.

– This is an elderly bull market in US equities we are already due for a correction.
– US equity market is overvalued, CAPE is 28+ http://www.multpl.com/shiller-pe/ !
– GDP is also near potential GDP https://fred.stlouisfed.org/graph/?g=cydW

Thanks to crazy QE over last decade there is already trillions of dollars sitting on the sidelines with no where to earn any ROI (hence global search for yield). This has lead to a plethora of moronic ventures such as 17 different food delivery app startups. Worse large amounts of this been used to buyback shares which has increased the share price but isn’t going to contribute to future earnings growth. Finally as many of these companies have issued debt to buy back shares they are facing higher interest rates when rolling the debt over in the future. More stimulus when at or near capacity will also lead to inflation which will cut margins. Could see a lot of insolvencies in these buy back companies.

So maybe revenue will grow but nope as there is no source of vast untapped growth potential for US companies:
– Low growth environment because of demographic factors (boomers with their great planning for retirement are not going to be spending in western world and japan, China in same boat. All population growth coming in war torn middle east or underdeveloped Africa where anything service provided or thing made in the west is too damn expensive.
– Not going to be helped by stifling immigration. Also underlines the sheer idiocy of banning Iranians from the US, very young country full of highly educated strivers probably Canada’s next group of model immigrants)
-Trade wars will make it difficult for US companies to enter or even keep the markets they have now.

So inflation but middling or low growth I believe you called this stagflation back in the 70’s and the Volker fix for that wasn’t exactly pretty.

There are whole host of other issues as well.

– While some debt is down from before the great financial crisis (bankruptcy for the win) Fed Gov’t debt and state debt has only gone up, there are also huge bubbles in pay day lending, auto lending and student loans.

– The US cannot win a trade war with China, Trump confuses the US trade deficit with the US getting “a bad deal” because he hasn’t a goddamn clue. The trade deficit is the US living beyond its means and off the kindness of strangers and has been for a really long time (50 years ? maybe as far back as when they had to scrap bretton woods) the only thing that changes is which nation is subsidizing their entitled asses.
– Repatriation holiday ? Give me a break the big US companies have been issuing debt to get around this and issue dividends or engage in stock buy backs.
– Less regulation, less then barely any at all: in say Finance see GFC, constant fines of banks etc, none in the energy sector (see BP safety record) US workers die all the time from lack of worker protections standards. FDA has been hobbled for years (see supplements)
– Corporate tax rates ? only the smallest corps actually pay anywhere near this tax code full of opportunities to avoid.

The Trump Dump will happen possibly way sooner then even I thought, options market already shows there is no confidence going into even February.

#104 BS on 01.31.17 at 3:25 am

For the rest of you, there’s a predictability about having an unpredictable guy in the wheelhouse.

Trump is actually very predicable. Just look at what he promised in his campaign. He is simply doing what he said he would. No matter your opinion, this is the mandate he was elected on. I suspect this will continue to shock the media and the snowflakes for the foreseeable future.

#105 Michael on 01.31.17 at 4:01 am

The continued anti-Trump sentiment is pitiful, as much as it is continued from the primaries, the election, as president elect, and now president. The US wanted disruptive change because things were no longer working in the status quo – Trump will move many things at once. Some will work, some will not. Refining the things that do not work can come later.

The temper tantrums of the so-called “generation snowflake” will hopefully subside as the actions that work take effect – though they all seem to lack memory, like Obama banning refugees from Iraq in 2011. And it is not a muslim ban, or the countries with the largest muslim population would be on the list. This is a targeted response on the most volatile areas designed to reduce the risk of contagion.

#106 +0.3% GDP Report today, rounded up on 01.31.17 at 5:02 am

A guess.

Optimist.

#107 Sebee on 01.31.17 at 5:19 am

InvestorsFriend,

Do we let young drivers drive without an experienced driver at their side? Do we take away licenses from dangerous drivers? Do we retest seniors and take away their privilege if needed? If you come from a high risk country known for serious terrorist issues, why should any privilege be grandfathered and not be subject to revised criteria?

Everyone seems to feel entitled to everything.

#108 esther on 01.31.17 at 6:32 am

maybe he does not deserve a dog

#109 ANON on 01.31.17 at 6:39 am

Can we safely check-mark some points on the squirrel recipe list of ingredients ?
No one could have predicted this…it is different this time (and in a way it is, history rhymes, does not repeat, one would have expected points 30, 31 only after the main ingredient mix)

#110 Also stopped at the border on 01.31.17 at 7:30 am

#59 Muslim Ban in Canada –

As a born and bred Canadian Citizen, with security clearance for my work, for over 20 years I was stopped at the Canadian border and sent through immigration.

Just smile. They are doing their jobs, although we (and those traveling with, or waiting for me never enjoyed it)

Yes, my “Racial Profile” is white, born in Canada, northern Europe background through and through, never been in trouble with the law, etc, etc. Someone with (almost) the same name, but same birth date did something and they were looking for this person.

Last time I arrived back “here”, did not have to go through Immigration, first time in a couple of decades – felt strange!

#111 jess on 01.31.17 at 7:58 am

bank of n. dakota vs public private partnerships
https://bnd.nd.gov/bnd-opens-second-application-period-for-bnd-infrastructure-loan-fund/

How to Cut Infrastructure Costs in Half
Monday, January 30, 2017 By Ellen Brown, The Web of Debt Blog | News Analysis
http://www.truth-out.org/news/item/39275-how-to-cut-infrastructure-costs-in-half

====================================
backlash to public private partnerships and the TTIP
http://www.world-psi.org/sites/default/files/rapport_eng_56pages_a4_lr.pdf

https://www.nytimes.com/2016/12/24/business/dealbook/private-equity-water.html
https://www.wateronline.com/doc/new-jersey-city-is-case-study-in-private-water-0001
http://www.latimes.com/local/california/la-me-water-rights-legal-20150629-story.html
Two years and $14 million later, Missoula wins right to buy Mountain Water
By Dan Brooks in Montana Politics

August 4, 2016
2015 – “In the space of a few months, Barcelona’s new government has imposed fines on banks that own empty buildings, re-opened public day-care centres and declared the city free of TTIP (Transatlantic Trade and Investment Partnership). This new spirit is reflected in the global water movement. In recent years 235 cities from 35 countries have taken back water management into public hands, establishing a global trend towards remunicipalisation.

A turning tide: Public water officials look to future beyond privatisation
19 October 2015
Article
https://www.tni.org/en/article/a-turning-tide-public-water-officials-look-to-future-beyond-privatisation

#112 maxx on 01.31.17 at 8:35 am

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

“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.”

Sounds counter-intuitive, but when fools and lemmings are running one way…….save! Given the way the world may be unfolding, you might just need cash for things you never expected. If it all works out just peachy, (not really) you can always spoil yourself.

#113 2, pepito on 01.31.17 at 8:38 am

‘Predictions at this point are foolish, and investing on the belief wall street will benefit is gambling. This is probably as good a time as any to quietly move to the sidelines for the next little while and watch what unfolds. Prudence and caution is what I would suggest.’

What you are advocating is market timing. That is NOT investing.

Garth is merely giving his short term outlook, gotta write about something. In the end, Garth INVESTS.

#114 Penny Henny on 01.31.17 at 8:48 am

For example, a senior Canadian military officer told me on Monday, if the Quebec City massacre had happened on US soil Sunday night, the Trumpian response would likely “have been devastating.”-Garth

Shouldn’t this read that the senior Canadian military official offered his opinion that things would have been devastating?

“Would likely” connotes opinion. Worry about things that matter. You are slipping into adolescent hero-worship of late. — Garth

#115 Penny Henny on 01.31.17 at 8:52 am

If BC’s foreign buyers tax was previously interpreted as a Chinese head tax, what will the elimination of this tax be known as?

#116 inflation AND uncertianty on 01.31.17 at 9:20 am

“Donald Trump will be the inflation president, but also the king of volatility. ”

he’s going to stoke inflation AND years of uncertainty?

and you wonder why gold went up?

please….

Volatility does not necessarily equal uncertainty. And gold is $700 less than it was six years ago. — Garth

#117 Molly warhol on 01.31.17 at 9:39 am

But there is no wage gap

#118 Penny Henny on 01.31.17 at 9:42 am

#110 Also stopped at the border on 01.31.17 at 7:30 am
#59 Muslim Ban in Canada –

As a born and bred Canadian Citizen, with security clearance for my work, for over 20 years I was stopped at the Canadian border and sent through immigration.

Just smile. They are doing their jobs, although we (and those traveling with, or waiting for me never enjoyed it)

Yes, my “Racial Profile” is white, born in Canada, northern Europe background through and through, never been in trouble with the law, etc, etc. Someone with (almost) the same name, but same birth date did something and they were looking for this person.

Last time I arrived back “here”, did not have to go through Immigration, first time in a couple of decades – felt strange!

………

Maybe they caught the other guy.

#119 Penny Henny on 01.31.17 at 9:52 am

Back to Toronto real estate-
Higher mortgage rates and stricter federal rules to qualify for insured mortgages are expected to curb sales slightly in the region, the board said. However, many buyers are preparing for the tougher mortgage rules by amassing hefty down payments, averaging 23.9 per cent for first-time buyers, according to a consumer survey conducted by Ipsos for the real estate board.
………………………………….

averaging 23.9% down for first time buyers?
Impressive.

http://www.theglobeandmail.com/real-estate/toronto/toronto-realtors-predict-another-price-surge-warn-against-foreign-buyer-tax/article33844568/

#120 For those about to flop... on 01.31.17 at 9:58 am

Hey BS , yes everything is going to schedule for the Orange Octopus…he managed to piss off the majority of the American people on the day of any Octopuses favourite number…Eight!

His national health strategy is also working great.

Keep everyone out and about ,protesting, walking around shedding the pounds they put on over the holidays…

M42BC

#121 Euro observer on 01.31.17 at 10:11 am

https://ca.finance.yahoo.com/news/toronto-real-estate-board-foresees-131213998.html

Toronto Real Estate Board foresees another year of double-digit price increases

that basically implies double digits loss of purchasing power in the scheise northern peso.

As expected.

#122 TurnerNation on 01.31.17 at 10:21 am

Gold and biotech going apesht now, T-rump has the Midas touch? Markets not so much this year.

#123 DM on 01.31.17 at 10:28 am

Closer to home, another ‘high anxiety’ should be the potential for multiple Liberal tax bombs packaged into the 2017 federal budget:

http://news.nationalpost.com/full-comment/john-ivison-liberals-face-revolt-if-health-tax-used-to-pay-down-deficit

http://www.theglobeandmail.com/news/politics/small-business-owners-wait-to-see-if-ottawa-comes-through-on-tax-pledge/article28961770/

As Trump plans to cut taxes and red tape, it’s absolutely ludicrous for us to undermine incentives for either small businesses or employees to succeed.

#124 IHCTD9 on 01.31.17 at 10:31 am

#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.
___________________________________________

We started our family 15 years ago, and the wife is still working her career job. She took whatever they were handing out at the time for maternity leave and went straight back to work directly thereafter. We paid a cleaning company to look after the house for a couple years while we made the transition with kid #1, paid for daycare until they started school, paid for after school care until they could get off the bus at home on their own, easy as pie – yes it was expensive.

My wife has two degrees, two professional designations, and does continuing education every year. She makes more than I do, and always has, she’s been working her profession for over 20 years straight – less two maternity leaves. Family was important, so was her career, she did both simultaneously and she/we did not need to move mountains to make that happen.

All in all, it was pretty straight forward with a well defined path as to how it’s done. To me, it just seemed like normal life and everyone we knew was doing the same. I’d bet today it would be even easier than it was then, and if the Libs keep backing childcare – cheaper too.

#125 TRT on 01.31.17 at 10:41 am

Possible Trump agenda on Canada Trade:

1) Abolish supply management. Cheap milk?
2) Softwood lumber duty due to unfair access.
3) Open up Telecom sector. T-mobile?
4) Open skies for US airlines. Hello Southwest?
5) Liquor access to provincial boards

BC seems to be going the other way from creating licences for everything that are artificially restricted and shoot up in value making the holders rich.

Examples:

1) Taxi licence – $800,000
2) ICBC Autoplan licence – $1,400,000
3) Food cart licence- $150,000
4) Liquor store licence- $1,000,000
5) Currency exchange licence- Gazillions.
6) Distillery/Brewery licence – Wild west free for all going on right now soon to be capped.

etc., etc., etc.

Where are the free markets?

#126 AB Boxster on 01.31.17 at 10:52 am

It is pathetic that so many posters are shocked at the recent orders and actions of the US President.

Everything that Trump has done, reflects exactly what he promised during his campaign.

I understand that the electorate, especially those that vote Liberal federally and NDP provincially, are used to their leaders promising the world, and then essentially reneging on those promises.

Chretien – We will kill the GST!
T1 – We will never implement wage and price controls!
Nutley – We will be a pragmatic government for all Albertans.

That an elected politician would have the hubris to actually implement the policies that he ran on is so old fashioned, right? In fact it’s just not done.

And it’s not done, because politicians say anything to get elected, knowing its always easier to get re-elected.
And because electors prefer to focus on style and feelings, rather than logic and results.

So we get drama teachers, with the business and economic intelligence of a squirrel, running a once great country and economy into the ground.

In the US, it is because every politician, until recently with Trump, is so beholden to the lobbyists and special interest groups that keep their campaigns flush with cash.

Though not so with Trump and his cabinet. They are so frigging rich that they are beholden to on-one.

Canadians and the rest of the world need to spend some time actually listening to what Trump has said for the past 2 years, and get ready.

Many of you may not like what you have seen in the first 10 days.

But you ain’t seen nothing yet.

#127 LOL @ TREB Foreign Buyer Poll on 01.31.17 at 10:52 am

TREB hired IPSOS to do a foreign buyer poll and told them to keep it under 5% hahaha !! Media falls for it as usual….

http://business.financialpost.com/personal-finance/mortgages-real-estate/foreign-buyer-tax-in-gta-would-be-misguided-toronto-realtors-study-shows

#128 Eks dee Sipal on 01.31.17 at 10:57 am

My dog just wants to play. All day, all night. When he was a puppy, he would literally fall asleep standing and fall over from a full day of play, with me and my four kids. I have the video to prove it. I think of these things in these troubled times.

Even I am amazed at how easily the US people were hoodwinked into electing an idiot to represent them? Are they actually this stupid? There were over 1600 candidates for the presidency. And are Canadians as equally stupid with what will soon happen in Canada with O’Leary (Joe Carlo on Facebook)??! I guess so.

Thanks, Jess, for all your hard work at providing interesting links. Have a good day, everyone.

#129 His face is floresecent orange on 01.31.17 at 11:13 am

The trump dump.

#130 IHCTD9 on 01.31.17 at 11:15 am

#77 Leo Trollstoy on 01.30.17 at 10:26 pm
Trump is a media magnet and someone at Starbucks is a marketing genius.
_________________________________

That marketing genius saw that what Trump did worked real good, so he’s pulling a page.

Going to hire 10,000 refugees?

LMAO!!!!

That is the exact same thing as saying you’re going to build a wall on the Mexican border. No one believes it’ll happen, and no one will care when it doesn’t.

Sounds great on the news though. I can’t believe the MSM even reports stuff like this…

#131 Bob Gillespie on 01.31.17 at 11:33 am

I wish we had a real leader like Trump. Instead we have incompetent leaders like trudeau, wynn and notley.
Our idiot leaders have been taken in by hucksters like gore and suzuki.
In Canada we have a bias media network (cbc), that supports the Liberals because they will feed them more subsidies. This is disgraceful in my opinion.
Trump had a real job. trudeau is a trust fund kid with no sense of reality. His old man drove this country into severe debt which we are still trying to recover from. wynn also has never dealt with reality as she was a school teacher who love sucking as much money as possible out of the tax payer.
Hopefully, a new Conservative leader will be a real Conservative and start to right this country.

#132 inflation AND uncertianty on 01.31.17 at 11:33 am

“Volatility does not necessarily equal uncertainty. And gold is $700 less than it was six years ago. — Garth”

high volatility = bear market, talk to you expert technical analyst. he’ll tell you.

gold is $900 higher than 2001, so what? who cares? your point is irrelevant. it’s only down $200 CAD from its peak.

you asked why gold is going up. you think if Trump gets his way, creates massive budget deficits, higher inflation, and higher volatility it won’t be good for gold?

you’re kidding yourself.

So buy gold. Good luck. Maybe this time will be different. — Garth

#133 Euro observer on 01.31.17 at 11:35 am

I knew it!

https://ca.finance.yahoo.com/news/health-benefits-tax-could-see-canadians-pay-additional-1000-a-year-study-213937720.html

Health benefits tax could see Canadians pay additional $1,000 a year: study

These guys want to tax you f.a.r.t.
fart-o-meters will be in demand

#134 Euro observer on 01.31.17 at 11:39 am

https://ca.finance.yahoo.com/news/health-benefits-tax-could-see-canadians-pay-additional-1000-a-year-study-213937720.html

Health benefits tax could see Canadians pay additional $1,000 a year: study

———————-

And I thought our great health care system was ‘free’!

Why do we need benefits then, on top of the provincial health care system in Ontario that does not cover dental at all?

#135 Superlatives on 01.31.17 at 11:42 am

Have you noticed that Donald Trump is very fond of using superlatives?

“… I am the least racist person you have ever encountered.”

“I know words, I have the best words. I have the best, but there is no better word than stupid.”

“I’m speaking with myself, number one, because I have a very good brain, and I’ve said a lot of things … But I speak to a lot of people, but my primary consultant is myself….” [There is video of this on the Internet!]

“I will be the greatest jobs president that God ever created.” [What hubris!]

“I’m the most militaristic person ever.” [More than Genghis Khan?]

“I will build a great wall … and nobody builds walls better than me, believe me.”

“If you love this country you have a very, very hard time convincing people that what you’re doing is right and that you’re really smart. And, like, a lot of us are really smart. I’m really smart – I went to the Wharton School of Finance.” [Do smart people need to tell us they’re smart?]

“I would use the greatest minds. I know the best negotiators … I know the good ones, the bad ones. I always say, ‘I know the ones people think are good.’ I know people you’ve never heard of that are better than all of them.” [Hilarious! For me, this stuff never gets old.]

#136 Smoking Man on 01.31.17 at 11:46 am

#94 The Totally Unbiased, Highly Intelligent, Rational Observer on 01.31.17 at 12:24 am

Brilliant Rant, well done.

#137 For those about to flop... on 01.31.17 at 11:56 am

Pink Snow falling in Vancouver.

These guys paid 520k in the summer and are struggling to get their money back…

M42BC

505-123 W 1st Avenue, Vancouver

Dec 11:$579,900
Jan 30: $569,000
Change: – 10900.00 -2%

https://evaluebc.bcassessment.ca/Property.aspx?_oa=RDAwMDBDVDQ4SA==

#138 Canadian Moose on 01.31.17 at 11:57 am

“It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness, it was the epoch of belief, it was the epoch of incredulity, it was the season of Light, it was the season of Darkness, it was the spring of hope, it was the winter of despair, we had everything before us, we had nothing before us, we were all going direct to Heaven, we were all going direct the other way….Charles Dickens. 1859 The Tale of Two Cities.

Most apropos for this blog and the blog dogs….lol

Thoughts from the Hinterland

#139 For those about to flop... on 01.31.17 at 12:06 pm

These guys have got a similar decision to make as the other guys I posted last night.

They paid 476k and now need to take the first decent offer or wait for Cabbage Patch Clark to work her magic..

105-262 Salter Street, New Westminster

Oct 12:$588,000
Jan 30: $538,800
Change: – 49200.00 -8%

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

#140 Euro observer on 01.31.17 at 12:09 pm

Apparently investing and becoming wealthy is simple.

https://ca.finance.yahoo.com/news/toronto-based-wealthsimple-launches-u-100000861.html

Toronto-based Wealthsimple launches in U.S. today

Commoditization of investment and financial services?

—————————

Nest Wealth differentiates itself by offering a “Netflix-style” subscription service: it charges clients a flat fee of between $20 to $80 a month to manage their portfolios.
———————————
Much better then the 2 % Mutual fund fees of the banks.

Banks are pretty much doomed in the investment sector otclassed by both finteck and private financial advisers.

So the next question is: Why do we need the banks to underwrite residential mortgages as well as they:
1. Insure these with CMHC at a cost for the client.
2. Package these as MBS and sells them to your pensions funds.

So they have no skin in the game/no risks, but profits!

So why do we need banks? to charge us banking fees or 18 % + on credit cards while giving us 0.5 % on a ‘savings’ account?

The moment google or apple come with their online banking service our banks are doomed.

#141 PokerCat on 01.31.17 at 12:17 pm

Thanks for this post Garth. I agree.

My only issue is that your message of remaining calm is drowned out by the rest of the Media/Internet screaming bloody murder.

It’s like drinking a cup of camomile tea during the Battle of the Somme. Something stronger is needed, but T2 hasn’t legalized it yet.

#142 jess on 01.31.17 at 12:42 pm

Trump’s ‘America First’ Doctrine Has Been Tried — and Failed
Book on Asian nations’ response to rise of West offers lessons for US. But they won’t be heeded.
By Crawford Kilian 28 Jan 2017 | TheTyee.ca

https://thetyee.ca/News/2017/01/28/Trump-America-First-Doctrine-Failed/

=====
Russian cybersecurity experts linked to CIA?
” The treason charge means any trial will be held in secret.”

http://www.scmp.com/news/world/russia-central-asia/article/2066958/russian-cybersecurity-experts-linked-cia

#143 the great and noble American President Donald J. Trump on 01.31.17 at 12:48 pm

#94 The Totally Unbiased, Highly Intelligent, Rational Observer on 01.31.17 at 12:24 am

The Mainstream Media is going so absolutely crazy trying to discredit the great and noble American President Donald J. Trump and his many sound-minded policies that it is now trotting out psychologists (also known as “shrinks”) to claim that Donald Trump is mentally ill.
…………………………………………………………………
Thanks so much for letting everyone know about the FAKE Mainstream Media Kelly Ann.

Very very much appreciated,
Donald

#144 the great and noble American President Donald J. Trump on 01.31.17 at 12:51 pm

Oops…………..FOX is also FAKE NEWS now.

http://www.fox25boston.com/news/ap-man-claiming-3m-improper-votes-registered-in-3-states/489364306

#145 jess on 01.31.17 at 12:52 pm

listen to jeff sessions question her integrity and the power to say no to the president that is improper

Sally Yates Confirmation Hearing

https://www.youtube.com/watch?v=Nfcl0w0vvXo

================================
“Sally Yates was fired as acting attorney general by President Trump on Monday for defying his executive order on immigration — but two years ago, she was pressured by Sen. Jeff Sessions (R-Ala.) to stand up to the president when she disagrees with him.

Sessions, who is now Trump’s nominee for attorney general, grilled Yates during her 2015 confirmation hearing on standing up to then-President Barack Obama.

After Trump fired Yates, video resurfaced of the exchange.

“You have to watch out because people will be asking you to do things and you need to say no. You think the attorney general has the responsibility to say no to the president if he asks for something that’s improper?” Sen. Jeff Sessions (R-Ala.) asked Yates.

#146 cultural determinations on 01.31.17 at 12:59 pm

#135 Superlatives on 01.31.17 at 11:42 am

Have you noticed that Donald Trump is very fond of using superlatives?

Sure. It’s the American CEO lingo.

#147 InvestorsFriend on 01.31.17 at 1:00 pm

Political Promises Broken

AB Boxster pointed out some broken prmises:

Chretien – We will kill the GST!

(A “Red book” promise, was it not?)

T1 – We will never implement wage and price controls!

(But he did, 90 days as I recall, was this after the 1972
election where Stanfield almost tied him 109 to 107 seats or after the 1974?)

Conservative Joe Clark won election circa 1979. T1 retired. Snap election circa 1980 when John Crosby’s budget did not pass. Crosbie had proposeds 25 cent per gallon gasoline tax increase. T1 called out of retirement and shaves beard to run again. Promises no 25 cent gas tax T1 gets elected and fairly promptly imposes MORE than 25 cents per gallon gasoline tax. That’s how I remember it anyhow. Very clever of T1. Then again things look different after the election and sometimes promises need to be broken.

P.S. Give Notley a chance, Alberta conservatives imploded. She got us the foothills pipeline. Also, the recession in Alberta bottomed last Fall and we are on the way up.

#148 Joe2.0 on 01.31.17 at 1:17 pm

“Trump will be the inflation President”
Not sure how you came up with that thought process since QE has been pumping out trillions of cheap money for years pre Trump..
Oh and let’s not forget the derivatives.

Look at the inflation stats for the last eight years. Duh. — Garth

#149 Melancholy on 01.31.17 at 1:19 pm

Melancholy is a state of a society when virtually all the participants have lost all the ability to see the big picture, they are collectively drowned into psychotic petty fights over popular ideologies of the day, the zeitgeist and let the entire fabric of their community break down into irrational stupidity.

Historically proven wake-up calls include (civil) war, financial collapse.

US, EU has entered that state, thanks for the gradual lobotomy of the political and billionaire ruling class and the masses drown into the artificially generated mass hysteria.

#150 Euro observer on 01.31.17 at 1:30 pm

#149 Melancholy

What you say is absolutely true for Canada.

I is much less relevant to EU despite the push of the bureaucrats for it and significantly less relevant in US despite the hype of the mass media.

#151 cramar on 01.31.17 at 1:39 pm

#94 The Totally Unbiased, Highly Intelligent, Rational Observer on 01.31.17 at 12:24 am

The Mainstream Media is going so absolutely crazy trying to discredit the great and noble American President Donald J. Trump and his many sound-minded policies that it is now trotting out psychologists (also known as “shrinks”) to claim that Donald Trump is mentally ill.

—————

Why does anyone need psychologists to confirm this? Anyone can do their own research. From the Mayo clinic:

Narcissistic personality disorder is a mental disorder in which people have an inflated sense of their own importance, a deep need for admiration and a lack of empathy for others. But behind this mask of ultraconfidence lies a fragile self-esteem that’s vulnerable to the slightest criticism.

A narcissistic personality disorder causes problems in many areas of life, such as relationships, work, school or financial affairs. You may be generally unhappy and disappointed when you’re not given the special favors or admiration you believe you deserve. Others may not enjoy being around you, and you may find your relationships unfulfilling.

Narcissistic personality disorder treatment is centered around talk therapy (psychotherapy).

http://www.mayoclinic.org/diseases-conditions/narcissistic-personality-disorder/basics/definition/con-20025568

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#135 Superlatives on 01.31.17 at 11:42 am
Have you noticed that Donald Trump is very fond of using superlatives?

“I will build a great wall … and nobody builds walls better than me, believe me.”

———–
Thanks for this.

Well he certainly got that right! No President has built better walls faster than this one!

#152 Barb on 01.31.17 at 1:42 pm

#140 Euro observer on 01.31.17 at 12:09 pm

…”So the next question is: Why do we need the banks to underwrite residential mortgages as well as they:
1. Insure these with CMHC at a cost for the client.
2. Package these as MBS and sells them to your pensions funds.

So they have no skin in the game/no risks, but profits!

So why do we need banks? to charge us banking fees or 18 % + on credit cards while giving us 0.5 % on a ‘savings’ account?”

—————————————–

Exactly!

Another thing…to assist my elderly Mom, I set up an online account with RBC to pay her bills (I personally use a local credit union, whose online banking website is easy to use and understandable at a glance, all sans tons of clicking).

RBC’s online is HORRENDOUS!

Succinctly described by an anonymous poster: “Who greenlit this steaming turd?”

Apparently CIBC’s online banking website isn’t any better than RBC’s.

Gonna send a thank you note to my credit union.

#153 Reply to #141 on 01.31.17 at 1:46 pm

Laughed out loud. Almost fell on the floor laughing. Thanks for the endorphins.

#154 quebecEconomist on 01.31.17 at 2:12 pm

and how will the market react to a ‘nuclear’ (literally) exchange between two big countries (one of them being the US)?

The odds of that are not slim…sadly

#155 ROTFL on 01.31.17 at 2:16 pm

Agree or disagree with Trump’s policies, but it’s also about the way he’s implementing them. Watching this guy trying to figure out how to work the levers of government power, while simultaneously arguing about crowd sizes and who cancelled the meeting first?

Well, it’s like watching a headstrong and mouthy teenager trying to teach himself stick shift… In a loaded 18 wheeler… Without synchromesh. Painful to watch, and painful to listen to.

#156 IHCTD9 on 01.31.17 at 2:58 pm

#131 Bob Gillespie on 01.31.17 at 11:33 am
I wish we had a real leader like Trump. Instead we have incompetent leaders like trudeau, wynn and notley.
Our idiot leaders have been taken in by hucksters like gore and suzuki.
In Canada we have a bias media network (cbc), that supports the Liberals because they will feed them more subsidies. This is disgraceful in my opinion.
Trump had a real job. trudeau is a trust fund kid with no sense of reality. His old man drove this country into severe debt which we are still trying to recover from. wynn also has never dealt with reality as she was a school teacher who love sucking as much money as possible out of the tax payer.
Hopefully, a new Conservative leader will be a real Conservative and start to right this country.
__________________________________________

Yep, lifelong gluttons gorging at the trough, it’s all they’ve ever done. It’s all they’ve ever known. Don’t get your hopes up regarding the conservatives, Brown is a douche that flip flops like a fish out of water to whatever end looks like it will get him higher up the ladder. If the cons run him in 2018, I’ll vote for Wynne. Brown will not help the situation, only try to not rock the boat while headed for the same falls McGuinty + Wynne steered us towards. If the Cons can’t come up with a knock your *&%$#@* teeth out ground shaker candidate that’ll grab the bull by the horns and start doing something right, I won’t vote for them. Instead, I’ll vote for the worst possible candidate in hopes for a quick mercy killing for the Province.

#157 Trump is a great man on 01.31.17 at 2:58 pm

#131 Bob Gillespie on 01.31.17 at 11:33 am
I wish we had a real leader like Trump. Instead we have incompetent leaders like trudeau, wynn and notley.
Our idiot leaders have been taken in by hucksters like gore and suzuki.
In Canada we have a bias media network (cbc), that supports the Liberals because they will feed them more subsidies. This is disgraceful in my opinion.
Trump had a real job. trudeau is a trust fund kid with no sense of reality. His old man drove this country into severe debt which we are still trying to recover from. wynn also has never dealt with reality as she was a school teacher who love sucking as much money as possible out of the tax payer.
Hopefully, a new Conservative leader will be a real Conservative and start to right this country.
—————————————————————-

You are delusional if you think the media serves anyone but CORPORATE interests. Liberals and CONservatives are THE SAME PARTY. T2 has done nothing but follow the CORPORATE game plan. CONservatives are 10X worse then the Liberals when it comes to pandering to the corporate elite. CONservatives and Liberals have to go. We need a NEW party a working party for the people. A party who will serve the peoples best interests. CONs and libs Only serve their CORPORATE masters.

That you would actually believe this drivel is astonishing. Try running for office instead of running your mouth. — Garth

#158 cramar on 01.31.17 at 3:11 pm

#155 ROTFL on 01.31.17 at 2:16 pm

Agree or disagree with Trump’s policies, but it’s also about the way he’s implementing them. Watching this guy trying to figure out how to work the levers of government power, while simultaneously arguing about crowd sizes and who cancelled the meeting first?

Well, it’s like watching a headstrong and mouthy teenager trying to teach himself stick shift… In a loaded 18 wheeler… Without synchromesh. Painful to watch, and painful to listen to.

——————–

Plus the adolescent, while learning to drive, is constantly on social media send out “twits” (as my non-tech-savvy wife called them)!

ROTFL indeed!

#159 Euro observer on 01.31.17 at 3:25 pm

Knowing Poloz I am certain that negative interest rates on CAD will be a reality pretty soon.

On savings accounts at least (negative) -1.5 – 2 % looks good to me.

Not on credit though. Credit cards still in 18-20 % range. Banks have to profit too.

#160 Don on 01.31.17 at 3:54 pm

If he was a normal politician with the same agenda, the inflationary predictions would be spot-on. From an investor point of view, it’s not his politics, but his immense incompetence that gives me pause. America has been the safe haven for investors because of its predictability and reliability. Those are not two words that match Trump and the way he’s so-far governed. Having a cabinet full of billionaires won’t help if he never asks for advice before signing Executive Orders. Why do we think the man who built a business empire through stiffing contractors and managing strategic bankruptcies is going to make good on US bond commitments?

He scares me for lots of reasons, and the smallest is what he might do to my investments. But even there, unless you’re on the inside of his kleptocracy, I’m not convinced the economic activity of wall-building and regulation-destruction will be profitable enough to counteract the chill and flight of money for safety the next time he does something stupid. Or the first time there’s an actual national emergency, and he blows it in an expensive way.

#161 Johnny D on 01.31.17 at 4:40 pm

Looks like Greaterfool is considered a news site now. Google ‘greaterfool’ and see for yourself. Blog posts show up as individual news stories. Congrats Garth.

I heard from Donald that I’m now fake. — Garth

#162 Aaron on 01.31.17 at 5:16 pm

Not sure if anyone has noticed this new part of tax returns in Canada: (from TurboTax)

If you’re a homeowner or just sold your home, here are changes that may be most relevant to you:

Sale of a Principal Residence: In years past, the sale of your home (principal residence) didn’t show up anywhere on your tax return unless you had special circumstances (using part of your home as a rental, capital cost, etc.) For 2016 and beyond, taxpayers who sell their principal residences must include information on the sale on their tax returns. Although the capital gain rules haven’t changed – any gain realized from the sale of your primary home is still exempt from tax under most circumstances– CRA now wants the information recorded on your return.

My question is what will the CRA do with the information – this might open the door in the future to tax, as unpopular as it may be

#163 bump comment #103 on 01.31.17 at 6:02 pm

well written and great view points!

#164 Alice on 01.31.17 at 6:31 pm

“Trumpian response would likely “have been devastating.””

Surely an understatement. I imagine his response would have been of GW magnitude.

#165 Alice on 01.31.17 at 6:32 pm

@ #60 Trump Fans Have Low IQ on 01.30.17 at 9:17 pm

And you live in a world where insulting people over typos are acceptable?

#166 Reasonfirst on 01.31.17 at 7:12 pm

#144 the great and noble American President Donald J. Trump on 01.31.17 at 12:51 pm
Oops…………..FOX is also FAKE NEWS now.

http://www.fox25boston.com/news/ap-man-claiming-3m-improper-votes-registered-in-3-states/489364306

____________________________

So to vote in 3 states, he would have had to have 3 approved IDs with 3 different addresses. Could be done but widespread???

#167 Bytor the Snow Dog on 01.31.17 at 8:24 pm

#101 Metaxa on 01.31.17 at 1:39 am

There is a whole load of posters here who use Garth’s popularity to advance their own misguided points of view without adding much of anything of value, for sure.

You’re absolutely right. You should stop now.

#168 Jack on 02.01.17 at 12:23 pm

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