More of the same

Well, that was a yawner. The second T2 budget failed to live up to the scary hype, with relatively minor tax changes (see the summary below), but lots of debt and a big pink bow on the top – because we’re all feminists now.

And have you noticed how much time Justin has been spending with Ivanka lately? A joint venture announced in Washington for female entrepreneurs, then a rendevous on Broadway for a new play about Newfies. In fact, the budget we just received was more influenced by her dad, Donald Trump, than the little beavs sitting in Parliament.

There wasn’t a big hit on Canadian capital gains taxation because Justin and Bill have no idea if the Trump tax-slashing plan will happen. If it does, and Canada moves in the opposite direction, there could be trouble, with a river of corporate capital flowing south. Meanwhile there’s speculation in Ottawa (and Washington) that the economy could move south along with some financial markets as the American president loses prestige, influence and credibility less than three months into his tenure.

The FBI says it has an active investigation of the Trump election campaign’s ties to Russia, and that country’s influence on the outcome of the Presidential election. There is zero evidence to support Trump’s bombshell claim that Barack Obama wire-tapped the Trump Tower during the electoral process. That would make Obama a criminal. The Muslim travel ban has been eviscerated. And the feeling grows that not enough Republicans will support Trump on a key vote tomorrow to repeal and replace Obamacare. In fact the Donald has threatened anyone not voting his way with “losing you seat” in the next election. Bully tactics. Weird.

All of this is worrying investors. First, it was a mistake to try and tackle the complex issue of health care so early and so brashly. Second, the “America First” budget unveiled just days ago – gutting environmental, cultural and social spending to divert money into guns and a bejesus-tall Mexican wall – is dead upon arrival. Third, all of the above is causing serious doubts that the real stuff investors want – slashed corporate taxes, relaxed regulations and mega-spending on infrastructure – may be delayed, or not happen at all. So, no growth spurt, no profit romp, no inflation pop.

But already the markets and policy have moved. The Dow and the S&P bloated a full 10% since the November election. The dollar raced ahead, bond yields advanced and the Fed pushed ahead with an interest rate hike less than ten days ago, promising two or three more in 2017. Now doubts this agenda will actually take place – and Trump has shot himself in both feet – has created a risk-off moment. The Dow fell by 1% on Tuesday – the first time this has happened since October. The US dollar’s at a four-month low. Gold is on the rise, and so are bond prices, as investors look for safe places to hunker.

Stocks are expensive now – not hideously, but enough. The S&P is trading at 18 times forward earnings, compared to the long-term average of 15. That makes them about 20% higher than normal, and certainly opens the door for a correction should the Trumpster continues to lose altitude and political support.

So what does this mean for us?

Uncertainty. Buckets of it. This is why the second Trudeau budget was the non-event it turned out to be. While the Libs want to spend endless amounts of money and Hoover the wealthy to pay for it, the environment is just too fragile now for Canada to trundle down the path of socialism while the Americans are a nation divided, run by a rabid-right president who received a minority of votes and is beyond strange with a web of personal conflicts of interest.

For investors, it’s time to play safe. Stay with a balanced approach – because bonds, we well as preferreds and REITs will counterweight any give-back on stock markets. Stay diversified, since you definitely do not want too many eggs in the Trump basket. And remain globally-invested, with exposure to Europe, China and inevitably-emerging markets.

The American president is a flawed man. He may end up a flawed leader. This day you can be thankful for that. Trudeau blinked.

Here's what Bill just did (or didn't)
Big scare: No hike in capital gains tax, no changes to corporate tax, no doc’s tax, no diddling with dividends or stock options. Nada. Ziltch. But it is all ‘under review’. Phew.
The deficit: $28.5 billion, up from $25.4 billion projected in the fall. Deficits as far as you can see, with debt-to-GDP ratio hovering around 31%.
Housing: $11.2 billion over 11 years for a National Housing Strategy. No move to dump cold water on Toronto. Burn, baby, burn.
For families: $7 billion over 10 years for new spaces, starting 2018-19. Parental leave zooms from 12 months to 18 months
Defence: $8.5 billion in capital spending for equipment pushed off to 2035.
Care givers: New care-giving benefit up to 15 weeks, starting next year.
Skills: New agency to research and measure skills development, starting 2018-19.
Innovation: $950 million over 5 years to support business-led “superclusters.”
Startups: $400 million over 3 years for a new Venture Capital Catalyst Initiative.
$50 million over two years for teaching initiatives to help children learn to code.
Uber tax: GST to be collected on ride-sharing services.
Sin taxes: 1 cent more on a bottle of wine, 5 cents on 24-case of beer.
Bye-bye: No more Canada Savings Bonds.
Transit credit killed: 15% public transit tax credit phased out this year. (partial CBC summary)

204 comments ↓

#1 Josef on 03.22.17 at 4:55 pm

First!!! Oh Yeah BABY!!! YEAH!!!

Boring Budget!!!

#2 BobC on 03.22.17 at 4:56 pm

He’s been right every time so far. Let’s give this one time.

https://www.usnews.com/news/national-news/articles/2017-03-07/nsa-whistleblower-bill-binney-says-trump-is-absolutely-right-about-wiretap-claims?context=amp

As far as healthcare goes I hope it doesn’t pass. This year is the worst year. Obama knew he would be gone. Make the left beg and beg for Trump to change it before they go bankrupt.

#3 Paul on 03.22.17 at 5:00 pm

Brad Lamb just said if the government puts a foreign house tax it will cause a recession. So it must be true !

#4 Kootenay Hippie on 03.22.17 at 5:00 pm

Big scare. It’s good to be balanced and diversified.

#5 Nick on 03.22.17 at 5:02 pm

Thank goodness for Trump. He’s the only one standing between T2 and my wallet.

#6 cramar on 03.22.17 at 5:03 pm

Great commentary Garth. Someone on CBC said that we are not likely to see a surplus budget the way the Libs. are going until at least 2050! Spend, spend, spend!

#7 The Greater Cauliflower on 03.22.17 at 5:05 pm

RE Budget: Where’s The Beef ?

#8 Jon B on 03.22.17 at 5:05 pm

I think you went a little overboard on the pre-budget fear mongering. Sure there were opinions out there that suggested crippling tax increases on the wealthy were coming fast and furious, but there were also credible opinions that didn’t agree, citing caution against such hikes due to competitive issues with the US. Stay fair and balanced, just like FOX!

#9 Housing Bloopers on 03.22.17 at 5:07 pm

Well, debt lives on. I’m going self employed to cash in on this continued madness, no reason not to take advantage of people who will throw any amount of money at getting into a house. Just rent and have a solid backup plan with cash on hand, exposure will be limited.

#10 Sam the Sham on 03.22.17 at 5:08 pm

Did anyone really believe that the Liberals were going to “soak the rich” by increasing capital gains tax and corporate taxes, etc. LOL! It was never going to happen.
It is becoming pretty obvious that the only real difference between T2 and Harper was rhetoric. I now realize that I disliked Harper not because of anything he actually did, but of what I was afraid he was going to do.

#11 Josh in Calgary on 03.22.17 at 5:09 pm

So what do we do about the potential for increase in Capital Gains tax. Would it be wise at some point near the end of the year to sell to realize gains and buy back?

Sin tax. EVERY SINGLE BUDGET they bump these up. First provincial and now federal. I get that it’s an easy target, but enough is enough. If this was Germany there’d be mobs in the street. Here it’s a foot note in the budget. If they were legitimately using it as a means of establishing programs to help those that had problems with booze then I’m all for it. But it’s simply an easy cash grab.

#12 Fall Budget Update the real budget? on 03.22.17 at 5:11 pm

Barton from CBC saying recent Republican Senator? interview on their Power & Politics that US will impose a BAT to pay for personal and corporate tax cuts – no choice to do it to help pay for tax cuts.

Why Libs just delivered a do nothing budget until they know what the US budget will be.

If they do impose a BAT, Canada is pooched to say the least not only because of the 20% but how it will be implemented with today’s supply chains being what they are, e.g., automotive. Heaven help us if it is imposed on oil & gas as well. There goes our GDP (auto + energy = the bulk of our GDP and certainly the bulk in exports).

Fall Cdn. budget update may well be the budget we were waiting for today?

#13 TRT on 03.22.17 at 5:11 pm

Simple.

Buy a detached house in Vancouver or Toronto and win, win , win!

Show any data to say that was a losing strategy the last decade and a half?

And now that this governments true colours are shining through, buy real state all the while they will be trying to “talk it down”.

Our only real economy left is foreign $$$ and migrants both documented and undocumented. Bullish for housing and rents.

#14 Dick C. on 03.22.17 at 5:13 pm

“The government says it is proposing key investments in areas where gender imbalances persist. They include enhancements to student financial assistance and training that the government says will disproportionately benefit women…”

Can we gentlemen get together and challenge the institutionalized gender prejudice that is so pervasive with T2 and his crew? I thought men were the ones being deprived of their livings as manufacturing and materials become secondary to service and knowledge work. As a corporate serf, I have suffered at the hands of many alpha women who need to assert their bossy-pants-i’m-in-charge-around-here agenda. I’ve been spoken to in ways women would never, ever be spoken to in the workplace. And I suck it up with dignity.

And on another note, if it were not for Donald and The Deplorables we would all be getting screwed on disciplined saving and investing. The investor class lives another year. Hurray.

#15 TurnerNation on 03.22.17 at 5:14 pm

Take anything our elites tell us, flip it around…and then it all makes sense.
Trudoh holding up book/sign labeled “Middle Class”?

That’s their target. Read….aim…TAX.

See: War is peace, hard work brings freedom and so on…

#16 Chaddywack on 03.22.17 at 5:15 pm

I’m surprised Mr. Feminist Environmentalist killed the transit tax. Maybe I should start driving my car everywhere again.

He also killed the Education Credit (not the tuition credit but the monthly amount for full/part time students) last year as well.

I thought students, environmentalists, feminists and welfare recipients made up his base!?

#17 TRUMP on 03.22.17 at 5:16 pm

Like a Bull in China shop……Trump isn’t done yet. Hasn’t even gotten started.

#18 Free Bird on 03.22.17 at 5:18 pm

First, my thoughts go to the newest victims of violent (possible terror) attacks, this time in the U.K. where we have friends. My greatest respect goes always to those in uniform on the front line. To our retired police friend and others…thank you.

#19 leebow on 03.22.17 at 5:21 pm

No tax on JD. Somebody got real lucky.

#20 Free Bird on 03.22.17 at 5:26 pm

Avoiding most political craziness right now so…

In terms of the extended parental leave here’s a quote from the CBC which sounds like the longer leave us optional and comes with reduced payments.

“…new flexibility for Canadians to spread out parental leave from the current 12 months to 18 with reduced payments.”

As small biz owners of a software co were glad to avoid any new taxes and interested in better definition of ‘super clusters.’ Do tell.

#21 Ronaldo on 03.22.17 at 5:27 pm

A yawner is right. 1.3 billion in new spending on a budget of 304.7 billion is like the Prime Minister budgeting for and extra $1300 in additional spending in his family budget. We are heading nowhere quickly.

#22 Dave on 03.22.17 at 5:36 pm

Penalize the middle class. Good job Morneau.

#23 Ace Goodheart on 03.22.17 at 5:36 pm

“The US dollar’s at a four-month low. Gold is on the rise, and so are bond prices, as investors look for safe places to hunker.”

And up come the prices of my bond ETFs, bought at the bottom of the market, while everyone was rushing into stocks.

In the words of the Master himself: “be greedy when others are fearful, and fearful when others are greedy”.

#24 Dave on 03.22.17 at 5:37 pm

Meanwhile, in the land where people can’t do math, the Vancouver condo bubble just quietly hit a new high.

https://betterdwelling.com/city/vancouver/vancouver-condos-see-sales-slide-but-prices-increase-in-february/

#25 Jimmy on 03.22.17 at 5:38 pm

Come on Josef,
I am the King of First.
You’re breaking the rules.

#26 bb on 03.22.17 at 5:44 pm

GST on Uber. But no GST on AirBnB. That means rental property is the way to go if you don’t want to flip your property yet. Let the renters subsidize your asset. Its a win (for the renter)-win (for the owner)!

#27 PR on 03.22.17 at 5:56 pm

Well. I trust the birth certificate of Donald trump! A rusky and kenyan ?

#28 rainclouds on 03.22.17 at 5:59 pm

#2 Bob

The US News. That’s your “evidence”?

It was a Joke, right?

#29 mitzerboy aka queencitykidd on 03.22.17 at 6:02 pm

at least out here in saskatchewan
we r still a 1 horse province with a 2 -bit economy
and a semi-pro football team.

just the way i like it ….
keeps all the very bad people away

#30 Smartalox on 03.22.17 at 6:03 pm

Taxing Uber. I guess that’s innovative.

I hope that JT was listening to the Donald’s budget proposal last week, especially where it plans to cut funding to the National Institutes of Health.

There’s a real concern that key laboratories will be shut down, and research data lost, in much the same way that the EPA removed tons of environmental research data from its websites when Trump was elected.

For a few Millions more, Trudeau can buy a ready-made innovation supercluster, and lure a bunch of high-earning technical types north.

#31 Melvin on 03.22.17 at 6:15 pm

Uber tax, craft beer tax, transit tax credit eliminated. Serves the millennials right!!

#32 I'm stupid on 03.22.17 at 6:16 pm

You know what really gets me angry…

The government only looks at income when it comes to giving out benefits. If they want tax fairness they should look at net worth also. For example the child tax benefit;
If you have a net worth of 0 but make 250k a year you get nothing.
If you have a net worth of 1million but make 30k you get the maximum.

How is that fair? A lot of people rode the bull on housing in Toronto and Vancouver and have a net worth north of a million but qualify for government poggy such as the child benefit. Others make a lot and are labeled “rich” but have little net worth and you tax them to death to subsidize the others. How is that tax fairness?

#33 not 1st on 03.22.17 at 6:18 pm

So let me get this straight. If trump stays put and rides out 4 yrs like he had the past 3 month, T2 stands pat and US goes into recession dragging us with it it.

If Trump is stonewalled setting up a democratic resurgence, T2 goes all in on the tax and spending and we still sink.

#34 Paul on 03.22.17 at 6:20 pm

Well nothing on housing in the budget, party on!

Back to back open houses this weekend!

#35 Larry Laffer on 03.22.17 at 6:23 pm

#16 Chaddywack
I’m surprised Mr. Feminist Environmentalist killed the transit tax.

Actually, it makes a lot of sense: that credit simply is a waste of money. Transit will always be cheaper than driving, even without the tax credit. The reason many (most?) people choose not to use transit is that the latter is often slow, inefficient and uncomfortable. The tax credit does nothing to address those issues. Use the freed money to build better transit infrastructures instead.

#36 Casey on 03.22.17 at 6:24 pm

#14 Dick C.

I have a 14yr old son and it makes me sad/very worried about his future! His last 10 yrs in P.S. … it was like the male population did not exist.
On another note, did anyone watch the HC today? It’s on cpac again at 11pm… something is not right in Whoville!

#37 BillyBob on 03.22.17 at 6:25 pm

#10 Sam the Sham on 03.22.17 at 5:08 pm
Did anyone really believe that the Liberals were going to “soak the rich” by increasing capital gains tax and corporate taxes, etc. LOL! It was never going to happen.
It is becoming pretty obvious that the only real difference between T2 and Harper was rhetoric. I now realize that I disliked Harper not because of anything he actually did, but of what I was afraid he was going to do.

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

Funny, that’s the same reason I dislike Trudeau – fear that he would do what said he was going to do.

Good thing that for the most part he hasn’t, whatsoever.

#38 Kona on 03.22.17 at 6:25 pm

Don’t forget that Statistics Canada will be receiving money over the next 5 years and then on-going to build a Housing Statistical Framework that will result in a comprehensive database of all properties across Canada.

This data will include foreign ownership stats, demographics of owners and how people are financing their homes.

Any guess on what the Feds plan to do with that information?

#39 Shawn on 03.22.17 at 6:25 pm

The S&P500 at 18X forward would be “fairly” valued under normal interest rate conditions in the past when the US 10-year yield has been between 5-7%.

Today the 10-year is at 2.4%. Stocks are extremely cheap with rates at these levels provided they don’t rise quickly (the FED continues to be dovish after every meeting and clearly doesn’t want to surprise the market – so expect very gradual and predictable rate increases going forward).

Given these conditions the forward p/e for the S&P500 is more like 10X or less. Stocks are extremely cheap. Beginning of 20+ year secular bull market cheap.

Buy VFV and forget about it.

#40 M on 03.22.17 at 6:27 pm

“The American president is a flawed man.” …We all are Gartho baby…we all are.

“He may end up a flawed leader.” … he may. by the same token , he may end up being the greatest leader those morons down south had since Andrew Jackson. Be as it may, US is utterly doomed and on its happy way to secession… i.e. Civil War for you gringos.

“This day you can be thankful for that. Trudeau blinked”… i see no big deal in stealing candies from a 5 years old..

#41 jess on 03.22.17 at 6:28 pm

in seven steps

https://www.occrp.org/assets/laundromat/laundromat-infographic.png

=======

http://www.heraldscotland.com/news/15172862.Scots_shell_company_laundered___160_million_out_of_Russia/
A SCOTTISH shell company was used to transfer £160 million out of Russia, according to international corruption investigators.The UK Government is currently reviewing such corporate vehicles, which can have secret owners, pay no taxes and file no accounts…”
=================
BAD Culture
New York Fed President William Dudley, in a speech entitled “Reforming Culture for the Long Term,
NY Fed president compares Wells Fargo fake account scandal to subprime mortgage crisis
Dudley: Like subprime crisis, compensation made bankers ignore consequences
March 21, 2017
https://www.newyorkfed.org/newsevents/speeches/2017/dud170321

#42 Mark on 03.22.17 at 6:28 pm

“If they do impose a BAT, Canada is pooched to say the least not only because of the 20% but how it will be implemented with today’s supply chains being what they are, e.g., automotive. Heaven help us if it is imposed on oil & gas as well. There goes our GDP (auto + energy = the bulk of our GDP and certainly the bulk in exports).”

I don’t think you really understand what a “BAT” means. It is a tax that levels the playing field in terms of labour costs, recognizing that it is completely unfair for a $30/hour American to compete with a $2/hour Mexican.

Canadians are generally paid at levels similar to that of US workers doing the same jobs. Per capita income is similar, occasionally being slightly higher or lower due to the impact of shifting foreign exchange and long-term cyclicality of the economies. Hence, a hypothetical BAT calculated on labour price parity would be effectively minimal or non-existent on Canadian made goods.

#43 ole Doberman on 03.22.17 at 6:28 pm

US healthcare beaten down over the Obamacare uncertainty could get big lift if repeal is shot down tomorrow.

#44 Big English on 03.22.17 at 6:30 pm

Did I read this correctly?

“A national database of all housing properties in Canada, known as the Housing Statistics Framework, to track details on purchases, sales, demographics and financing, as well as foreign ownership”

#45 Ted on 03.22.17 at 6:31 pm

ok, that’s out of the way, give me a few pre-sale condos!!

#46 Henry on 03.22.17 at 6:33 pm

It’s time I do a sex change. There are rewards to be had.

#47 ole Doberman on 03.22.17 at 6:35 pm

Australian RE crashing since foreign investment ban

https://www.armstrongeconomics.com/international-news/australia-oceania/confidence-in-real-estate-crashes-in-australia/

Takes air out of fomo speculation. So it does work in round about way

#48 Arto Tavukciyan on 03.22.17 at 6:37 pm

Foreign buyers accounted for 24% of sales in West Van prior to foreign buyers tax, trailing Richmond at 27%.

http://www.nsnews.com/news/foreign-buyers-big-spenders-in-west-van-prior-to-15-tax-1.12485427

#49 Another Deckchair on 03.22.17 at 6:37 pm

@31:

Why punish those fiscally responsible for creating their net worth?

Not everybody with HNW sold out from YYZ or YVR, you know.

#50 Mike on 03.22.17 at 6:37 pm

While bus pass credit for poor and middle class goes, tax loopholes for doctors and lawyers to “employ” spouses and pay low taxes remains.

Wonderful !!

#51 not 1st on 03.22.17 at 6:38 pm

If you think about, in an odd way, Trump just made canada great again. Now that the T2 gang is stopped in their tracks.

No more Canada’s back…in the red.

#52 dumpster fire on 03.22.17 at 6:40 pm

#11 Josh in Calgary on 03.22.17 at 5:09 pm
So what do we do about the potential for increase in Capital Gains tax. Would it be wise at some point near the end of the year to sell to realize gains and buy back?

* * *

If you’re going to stay in the market for a long time you’re better off letting your investment continue to compound instead of taking a tax hit now. Just sell anything you need to rebalance.

~ breathe deep

#53 BS on 03.22.17 at 6:42 pm

There is zero evidence to support Trump’s bombshell claim that Barack Obama wire-tapped the Trump Tower during the electoral process.

Not quite zero evidence. New evidence out today.

“Post-election communications of Donald Trump’s team were swept up in an “incidental collection” by intelligence agencies”

http://www.bbc.com/news/world-us-canada-39358363

The allegation was Obama did it. Untrue. — Garth

#54 not scary like conservative on 03.22.17 at 6:42 pm

First of it’s kind that is not like the one’s published by conservatives in the past. Oh yes , people bragged about capital taxes but nothing happened!

#55 Gabe on 03.22.17 at 6:44 pm

Elderly benefits $51.1 BILLION

Why are we going into a $28.5 BILLION dollar deficit to pay for these elderly benefits that are not means tested? Let’s have a balanced budget by making OAS means tested.

http://www.cbc.ca/news/politics/federal-budget-
highlights-2017-1.4032898

#56 Eco Capitalist on 03.22.17 at 6:47 pm

And once again the Canadian Military gets the short end of the financial stick. As a small business owner, I’m grateful all the rumours did not come true, but the only thing that this budget proves is that our “leaders” are scared to lead.

#57 CL on 03.22.17 at 6:51 pm

You’re all over the map on your market commentary. You’ve also been wrong on Trump from the beginning. He’s a master at the art of war. And don’t forget, Trudeau also won on less than (much less than Trump) majority as well.

#58 Cyrilix on 03.22.17 at 6:53 pm

#31

Why would you make a lot and not have any net worth? Not saving or investing any of it?

#59 Eurovision on 03.22.17 at 6:56 pm

The budget truly shows just how cooked the CDN economy really is. T2 gang is nervous.

#60 Spring GTA RE Market on 03.22.17 at 6:57 pm

Maybe anyone that held off on listing their homes (principal or rental) now will do so, since the budget scare is postponed. Doesn’t matter anyways, the Spring RE Market is usually better for prices. So maybe another 10% increase in GTA housing prices. Who knows. Damn, I knew I should have bought 2 houses last year instead of one. Oh well, guess I’ll just have to wait until the bubble pops, but meanwhile I’ll just keep saving that positive cash flow known as rental income until that pop occurs.

#61 M on 03.22.17 at 6:57 pm

..the final goal of Trump is to default on the debt…like in: take 20c on the $ and GIT ! …. anything else is just noise

#62 Strolling along, minding my own business on 03.22.17 at 7:00 pm

As usual, TV is at odds with the man in the street:

https://www.youtube.com/watch?v=DHkWPoy8GE8

Radosław Sikorski‏ shows London attack aftermath on Westminster Bridge

#63 not 1st on 03.22.17 at 7:01 pm

One thing, I love seeing smokers and drunks get taxed to the wall. Cause they keep buying no matter how expensive it gets. They are the best most obedient taxpayers in the country.

#64 GFC v2.0 on 03.22.17 at 7:12 pm

“…..In fact the Donald has threatened anyone not voting his way with “losing you seat” in the next election. Bully tactics. Weird……..
_____________________________

No, not weird. We punted our own bully in the fall of 2015.

Expect our southern neighbours to do the same in four years (or less) after millions of Deplorables figure out they’ve been shafted by the President of Denied Heath Benefits of America.

#65 dontcallmeshirley on 03.22.17 at 7:20 pm

Just give it up, bubba.

Contrary to popular belief the boy who cried wolf didn’t stop because he was finally eaten by a wolf, he was embarrassed and skipped town.

Real esate is the greatest tax sheltered cap gain in the nation. We are in the 16th year of a gov’t endorsed RE bubble.

How obvious is the right move?

#66 AK on 03.22.17 at 7:21 pm

“All of this is worrying investors. First, it was a mistake to try and tackle the complex issue of health care so early and so brashly. ”
——————————————————————-
It will go through.

Like him or not, he will be around for the next 8 years.

#67 AJ on 03.22.17 at 7:23 pm

#52 BS
Read your article again. It means the US intelligence was doing its thing, listening in on foreign diplomats era as per usual, and Trumps campaigners somehow got caught in that web. Why would they have been overhead? Cuz they were talking to Dodgy McDodge Russians.
Make sense now?
Obama did nothing.

#68 Doug t on 03.22.17 at 7:37 pm

Just shows you how worried the government is about our economy and the Trump effect. This isn’t over – think about the troubles ahead if Trump gets A. Impeached or B. Assassinated – hold on to your hat.

#69 rainclouds on 03.22.17 at 7:37 pm

#52 BS

https://www.wired.com/2017/03/dont-buy-latest-trump-surveillance-hype/

#70 Outsourced former coder on 03.22.17 at 7:38 pm

“$50 million over two years for teaching initiatives to help children learn to code.”

Things like this just desperately display how little politicians understand anything. Coding is something that either comes easy to you in any programming language you chose (once you learn the syntax), or you just can’t do well. It’s a lot like singing, only except that a lot more people can sing than can code.

This is why software companies have gone to such extremes to remove coding from the user experience and replace it with “wizards”. For example in the old days if you wanted to query a database you would need to understand SQL. Of course that lead to lots of people crashing the servers as they wrote un-executable queries. So now most users use something like a query wizard in excel or Business Objects. It’s all moving pictures around and the computer figures out what you mean and writes the query.

We are moving ever closer to the day where computers code themselves for the most part, and the user only needs to be able to describe to the computer via a graphic interface what he/she wants done. Actually I would say we are already a lot farther down that road than most people know. Look at Auto-CAD. That stuff is amazing. Or even Photoshop. Or the previously mentioned Business Objects. Or even SAS. SAS is a little harder but still the power behind it is amazing.

A lot of coding still gets done in things like Excel VB but most users who can do it are for the most part self taught. So why spend money trying to teach everyone to do it when most of them never will?

Teaching coding is a lot like teaching calculus. Most of the class is going to drop out. It requires a high level of precise micro and macro level logic that most people simply do not possess. In general, even children who might one day possess this attribute do not do so when they are younger than about 14.

When I was in grade 8 I took my first computer programming course, on computers we wouldn’t even recognize as such today, extremely simple machines in comparison to even a phone now. I played video games (such as they were) most of the time and got 99% in the class while waiting for the rest of the class to catch up, or acting as a teacher’s aid and literally doing the other kid’s assignments for them.

And anyway, due to the internet, this is another class of jobs that can increasingly be done for less by people in India. In India the government doesn’t need to spend money to teach people how to code, the ones who can just go out and learn how on their own. Sure, they probably have universities and colleges that teach courses, but the government doesn’t pay beyond whatever they support those institutions generally.

So I am not sure what Bill and Justin think they are going to accomplish. But oh well $50 million is a drop in the bucket. I’m sure most of it will be eaten up by whoever gets to administer the program.

Likewise, the “superclusters” and “Venture Capital” programs will also turn out to be complete boondoggles. Governments cannot innovate. But oh well, these programs are likewise a small drop in the bucket. Do they really think $950 million over 5 years or $400 million over 3 years can reshape the economy? If so, why didn’t anybody think of it before? That kind of money is within the reach of many private companies. I think in it’s heyday RIM could have funded that by themselves, and probably did.

So all said this will be almost a $1.5 billion dollar boondoggle simply meant to give voters hope where there is none.

#71 Sitting on the toilet thinking on 03.22.17 at 7:38 pm

#31
#48
#56

I have to agree with #31. If you 2 people both take they’re after tax money and invest 1 in a home and one in etf’s. One pays a mortgage monthly and the other invests the same amount as a mortgage every month in etf’s. The person with the home can sell and walk away with a profit tax free the other has to pay taxes on the profits. Two people both responsible just different choices.

#72 jess on 03.22.17 at 7:41 pm

Bombardier’s Azerbaijani Partner Has Chickens and Cows. Who Got the Millions?

Trans-Signal-Rabita, an Azerbaijani company, came out of nowhere to score a huge deal: A US$ 56.8 million share of a larger project with Swedish engineering giant Bombardier Transportation to install signaling equipment for Azerbaijan’s state-owned railway company. But when OCCRP reporters tracked down its owner, they found only a rural electrician living in a remote village near the Iranian border.
Read the article

https://www.youtube.com/watch?v=23288joSAE0

https://www.occrp.org/en/agentsofinfluence/bombardiers-azerbaijani-partner-chicken-cows-who-got-millions/

#73 bigtowne on 03.22.17 at 7:44 pm

Incomes are stagnant for most Canadians. Inflation in all areas of the economy and including the latest increase in the gas tax in Ontario and the carbon tax or green taxes added on top of other taxes. You have to finally see why people are pooched on debt with their salaries flatlined but the cost to keep living increases far more and farther than 2% inflation.

#74 MGTOW on 03.22.17 at 7:48 pm

#14 Dick C.

You have to learn to make lemonade my dear friend. Do not think of policies targeting advancing women over men as a threat. Instead think of it as finally an opportunity to go “dutch” on dates. Think of it as an opportunity to pursue your dream job as a ski instructor rather than having to chain yourself to a desk to support a bunch of bratty kids who never call you when they are older.

#75 jess on 03.22.17 at 7:50 pm

best defence is an offence

#52 BS on 03.22.17 at 6:42 pm

Trump’s Ex-Campaign Chief Accused of Money Laundering in Ukraine

Print article
Published: Tuesday, 21 March 2017 18:44

A Ukrainian lawmaker accused Monday Donald Trump’s former campaign chairman, Paul Manafort, of trying to hide and launder a US$750,000 consultancy payment he received from the disgraced former president Viktor Yanukovych.

The invoice bills Belize-based Neocom Systems Ltd for 501 computers and is printed on a letterhead from Manafort’s Virginia-based consultancy firm.

Leshchenko said at Tuesday’s press conference in Kyiv that he personally verified Manafort’s signature on the document.

According to Kyrgyzstan’s Central Bank, Neocom Systems is a shell company used by AsiaUniversalBank for money laundering and stock fraud.

#76 John in Mtl on 03.22.17 at 7:56 pm

“Housing: $11.2 billion over 11 years, already budgeted, will go to a national housing strategy.”

Anyone care to speculate on what this strategy might be composed of – building affordable rentals, tax credit for 1-st time buyers, more tax cerdits for seniors, etc.?

#77 Nonplused on 03.22.17 at 7:58 pm

#31 I’m Stupid

I hate to say it but I agree with your handle.

If there are people out there who make $30,000/year but have $1,000,000 in assets they are probably really close to retirement and made a great effort to be self sufficient in retirement. They would have paid tax on all the money they saved and invested to get the $1,000,000 except that which they put in RRSP’s which they will pay tax on when they withdraw it. The money that isn’t in the RRSP is also already subject to income and dividend taxes, as well as capital gains taxes.

You are seeing a problem that doesn’t exist.

Our system of taxation is based for the most part on income and spending. Plus property taxes but in theory those go to supporting schools and infrastructure that benefit the properties and the people who own them being taxed.

What you seem to be proposing is that if someone manages to save a bit of money by reducing his expenses after paying all these other taxes, we should take away whatever he or she has left. To hold such a view, I must assume you have saved very little and are thus not one of Garth’s usual subscribers. But that is your fault, not the fault of someone who has played by the rules and saved for the future.

#78 rknusa on 03.22.17 at 8:01 pm

looks like this bubble has plenty of life left

industry predicts as much as a 25% price increase in Toronto and area real estate this year

Justin says just let it burn itself out for now

#79 rknusa on 03.22.17 at 8:03 pm

Brad Lamb’s threats of recession must have scared Justin

#80 I'm stupid on 03.22.17 at 8:03 pm

#48 deck chair
#31 cyrilx

I’m simply saying that if you’re asking for gov’t assistance your entire financial situation should be looked at before it’s granted. If you’re applying for welfare they look at your assets before you qualify. Child benefits, only age benefits are essentially the same thing.

If you just finished a Phd and began working and you got pregnant you’d have a $250 salary but very little net worth and would qualify for child benefits.

If you won the lottery and had zero income you would. I’m saying it should only be given to people who need it as a last resort, Not only based on income but net worth should disqualify you as well.

#81 I'm stupid on 03.22.17 at 8:04 pm

Phd Wouldn’t qualify

#82 Self Directed on 03.22.17 at 8:05 pm

Let’s remove transit incentives, but burn 2 billion on infrastructure? This Ottawa thing is a dumb gig.

#83 Linda on 03.22.17 at 8:06 pm

#34 Larry: you are quite correct regarding Transit. It is less expensive even w/o the transit tax credit. As you then correctly state, it is not as convenient or as comfortable as driving. This is completely true in Canada. We’ve huge distances & a small population. In my town, Transit inevitably gets heavily used during poor weather (lots of drivers decide to keep the car at home & avoid being creamed) & just an inevitably breaks down. I’ve had the joyous experience of taking over 3 hours to get home via Transit during bad weather conditions; to be fair, I’ve also been in traffic for the same length of time when driving under similar conditions. The main difference is that at least I 1) have a seat; 2) can listen to music or talk to any passenger that may be in the vehicle in peace. When taking Transit, I reflect on the fact that usually one is only that close to someone who you are having a personal relationship with. On Transit, you get the same closeness w/o any need for commitment!

#84 Gibsonpure on 03.22.17 at 8:08 pm

A little too much ‘doom and gloom’ around the T2 2017 budget. But it’s ok, it’s good to bring that sort of thing to the forefront for small business owners, investors, and the 1%.

Re: Real Estate. Would like to hear your thoughts on what can be done now that the feds have dodged the big smoke’s housing bubble.

#85 Gerrt on 03.22.17 at 8:08 pm

“as the President loses prestige?” he’s a moron!

#86 acdel on 03.22.17 at 8:11 pm

No surprise, the perks will happen on election year.. As predictable as ever.

Remember that we just paid for T2 and his family on a recent glorious vacation a few months back; this time around 150k tax payers money visiting his buddy on a glorious Bahamas island, he paid back under 5k, gotta love politics; NOT! They are all the same. Do what I say not what I do!!
Wait for the perks on election year, we are pathetic to put up with this…

#87 I'm stupid on 03.22.17 at 8:11 pm

I’m not speaking for myself. I think gov’t welfare should be given to those that need it but as a last resort not a gift for everyone except if you make a lot!

#88 John in Mtl on 03.22.17 at 8:12 pm

Well, I’ve partially answered my own question:

http://globalnews.ca/news/3328103/federal-budget-2017-affordable-housing-real-estate/

#89 Warren - the lagging indicator on 03.22.17 at 8:12 pm

This blog is like the bigliest information leak ever, thanks Garth. Also, I think I saw Wild Bill giving you the finger today.

#90 AK on 03.22.17 at 8:15 pm

“#67 rainclouds on 03.22.17 at 7:37 pm
#52 BS
https://www.wired.com/2017/03/dont-buy-latest-trump-surveillance-hype/
——————————————————————-
It’s legit.

This story was probably written by the left wingnuts.

#91 uncertainty on 03.22.17 at 8:16 pm

Here’s the thing about the big tax scare, re: capital gains, doctor’s’ corp tax, etc. It’s all very uncertain. How is anyone, big and small businesses, professionals, etc supposed to plan around this?

Maybe the balanced approach is to stop taking business risk and stop working so damn hard. Government has shown it can act like Robin Hood and take from the ‘rich’.

Except, I wonder if the Liberals will actually define what “middle-class” means.

#92 RON on 03.22.17 at 8:16 pm

I guess I can stay in Canada at least 1 more year. If they messed with the Capitol Gains Tax, I was ready to pack my bags and move to Hong Kong. ZERO TAX in Hong Kong on ANY INVESTMENT INCOME OF ANY KIND. Zero sales tax too….. Sure it’s an expensive city to live in. But that’s what you get in s country with a booming economy and you get to keep your money.

And guess what, the country has so much business because of the super low taxes that they have tons of cash….. Here we are headed in the opposite direction…. Less business, and increasing taxes…. I wonder which country blows up first….

#93 Carlyle on 03.22.17 at 8:17 pm

Killing the transit credit was a bad idea and one that hits their voting base (millennial city dwellers).

#94 uncertainty #2 on 03.22.17 at 8:17 pm

I still remember the days when my dad made about $150K/year working 10-12 hour days and my mom was a stay-at-home complaining how much my dad worked.

Is this the same family as two working parents who make $75K each?

#95 Linda on 03.22.17 at 8:22 pm

Gerrt – Trump isn’t the moron. The people who elected him are. Think about it. Despite all the laughter, that ‘moron’ managed to become POTUS & despite a less than stellar morality or ethics (conflict of interest, thy name is Trump) is still Tweeting falsehoods at will & claiming he didn’t say/mean what he did say (& maybe mean, who knows? Depends on his mood of the moment). In addition, that ‘moron’ has an entire team of people who defend whatever he does, however he does it! His moronic ways do not seem to end in any penalties that impact him, so if nothing else he is exceptionally bright at evading consequences – thus far, anyway.

#96 Economystical on 03.22.17 at 8:26 pm

Not much of a post from me tonight other than to say I am extremely disappointing with this budget. There are almost no big economystical moves towards bettering the wealth of all at the expense of someone we don’t know.

$950 million here, $400 million there, tiny, timid moves. Taxes largely unchanged. The only things they did right were increase the deficit, tax Uber, and eliminate Canada Savings Bonds.

Taxing Uber was a no-brainer. The GSCT or HSCT (Goods and services and carbon tax) has to be applied to all commerce or commerce that doesn’t pay it will flourish and those who do won’t. This way nobody will flourish except government employees. But don’t worry, eventually everybody will be a government employee like in the glorious days of the USSR. (The USSR failed because of US tampering in their elections, the economic model was almost ideal).

It also seems to make sense to eliminate the Canada Savings Bond program. Why should citizens be allowed to lend their money directly to the government rather than go through a bank or money fund? The more steps there are, the more opportunities to tax.

But that’s all I have for now, it’s going to take me a while to digest this extremely disappointing budget. After all the advise I gave them, it’s disheartening. Oh well I still got paid (and a lot).

#97 april on 03.22.17 at 8:27 pm

#13 – what else can one expect a realtor to say. Real estate only goes up….horsefeathers!

#98 Lana on 03.22.17 at 8:27 pm

And this pathetic blog was but one of many contributing to all the hype and worry, fanning flames of inside gossip you are privy to. Help educate us about the facts not contributing to ‘what if, it could happen’.

Forewarned is forearmed. You can now return to “real Housewives of Toronto.” — Garth

#99 Carlyle on 03.22.17 at 8:34 pm

Imwithstupid
#48 deck chair
#31 cyrilx

I’m simply saying that if you’re asking for gov’t assistance your entire financial situation should be looked at before it’s granted. If you’re applying for welfare they look at your assets before you qualify. Child benefits, only age benefits are essentially the same thing.

If you just finished a Phd and began working and you got pregnant you’d have a $250 salary but very little net worth and would qualify for child benefits.

If you won the lottery and had zero income you would. I’m saying it should only be given to people who need it as a last resort, Not only based on income but net worth should disqualify you as well./end quote

So those who are completely irresponsible should receive government assistance while those who are responsible do not AND pay for the irresponsible?

#100 april on 03.22.17 at 8:36 pm

#24 – Benchmark is not an accurate measurement. Real estate board/industry can not be trusted to show the true data. Also people are basing their asking price on last July’s assessments and prices have dropped since then.

#101 George on 03.22.17 at 8:45 pm

Has anyone seen this ridiculous home? 35feet by 96feet in the middle of nowhere for 1.6 million dollars.

https://www.realtor.ca/Residential/Single-Family/17928056/128-BIG-HILL-Crescent-Vaughan-Ontario-L6A4K7-Patterson

#102 Bond Junkie on 03.22.17 at 8:49 pm

#44 Ted — hope you got a tent and two days worth of food to queue up the proud Canadian way gringo!!!

P.s- Garth I love the public shaming of the $5mm Bennington lot! I thot that stuff was only reserved for the comments section. Props for that move, surely will cost you a few knocks from the CRA.

-Bj

#103 common sense on 03.22.17 at 8:53 pm

#82 Gibson pure

When little of anything else is keeping the country going, it was highly unlikely T2 was going to kill the golden goose…

What other options are their for growth?

#104 acdel on 03.22.17 at 9:03 pm

OOPS, I forgot to add a link to my last post if anybody is interested, same old, same old! Depending on which article one reads the figures are not so far off.

http://www.cbc.ca/news/politics/trudeau-agakhan-bahamas-ethics-1.4034413

Great budget, heh! :)

#105 I'm stupid on 03.22.17 at 9:08 pm

#97 Carlye

No… it is as I said welfare only for those that need it. Income and assets should be taken into consideration before you’re eligible to receive it not just income. As it is now the benefit only punishes high income earners and rewards high net worth individuals. I’m saying neither deserve it or should get it.

#106 Andrew Woburn on 03.22.17 at 9:11 pm

Parental leave zooms from 12 months to 18 months
=====================

Nice timing. Just as the millennials start their baby-popping years.

You’re an employer. Candidate A is a lightly experienced, fresh-faced 20-something in the prime of her fecundity. Candidate B is a veteran Gen-Xer who is through with child production. Other things equal, who do you choose?

#107 I'm stupid on 03.22.17 at 9:14 pm

Let’s talk about the maternity leave changes. I guess no one did the math!

12 months @55% of earnings
Or 18 months @33% of earnings

That means if you opt for the 18months you’ll be paid less than the 12months. Why not take 12 months @55% and 6 months unpaid?
I guess the headlines look good!

I guess that’s how Trudeau’s budget balances itself!

#108 TurnerNation on 03.22.17 at 9:17 pm

Rate hikes, higher mortgage qualification levels might do very little, why: all those people that bought in GTA 5-8 years ago – even with next-to-nothing down and 30-40 year amorts – have now the $300-800,000 of harvestable equity with which to lever and leverage into new houses.

Supply is so tight…this marginal buyer (and overseas buyers – with our low $CAD) can and will drive prices higher.

GTA = BPOE = Uppa up for forseeable future.

#109 T. on 03.22.17 at 9:22 pm

***If you think about, in an odd way, Trump just made canada great again.***

Oh, I’ve thought about it, believe me. The God-Emperor’s the best thing Canada could have gotten right now. Making countries great again that he isn’t even president of!

***It’s all very uncertain. How is anyone, big and small businesses, professionals, etc supposed to plan around this?***

That was my big issue too. Fiddle around a bit with my tax rate, cost me a few grand – fine. Diddle the entire corporate system that my financial life is structured around, and how am I supposed to know what to plan for? I suppose I must be thankful for job security to begin with.

#110 smallcapsteve on 03.22.17 at 9:36 pm

“Stocks are expensive now – not hideously, but enough. The S&P is trading at 18 times forward earnings, compared to the long-term average of 15.”

With where interest rates are now compared to where they have been over this average, shouldn’t PE ratios be trading much higher?

One could easily make the case the new normal should be north of 30.

#111 Leo Trollstoy on 03.22.17 at 9:37 pm

Not a shocker.

As I’ve mentioned in previous posts, the Canadian economy is strenghtening, inflation is low and cost of servicing debt is low. Money is plentiful, via jobs, borrowing or family.

Billy didn’t need to do anything. And he didn’t.

The CAD and USD will be in a dog fight since both our economies are BOOMING!

#112 Ret on 03.22.17 at 9:44 pm

#74 National housing strategy -$11.2B over 11 years

There is no mystery here as to where the money will go.

It will go to the regions, special interest groups and constituencies across the country that like and support Liberal agendas.

It will let Liberals buy votes from municipalities, immigration groups and Native peoples and give them a slush fund of cash to wash over any Fort Mac types of problems that arise.

They will tell you how they will spend your money when it serves their interests.

#113 Bytor the Snow Dog on 03.22.17 at 9:51 pm

DELETED

#114 Bytor the Snow Dog on 03.22.17 at 9:56 pm

Juuust in case the last one gets deleted, I’ll share my thoughts on the budget here: It’s a whole lotta nuthin’.

That said, all of the loud and proud feminists should be up in arms that T2 and Wild Bill seem to think that women are weak and need all of these special programs to help them.

Equality is in the eye of the beholder, I guess.

#115 NS Guy on 03.22.17 at 10:00 pm

Of course the US government spied on Trump.

They spy on everybody all the time: every phone call, every email, every Google search, every website, every angry rant on every pathetic blog, every Facebook post, every Tweet, every photo upload, every GPS ping from your cell phone, every library checkout is recorded, stored, analyzed and summarized by various US agencies and will never be erased.

#116 tkid on 03.22.17 at 10:06 pm

#27, actually no. The source of the intel was House Intel Chairman Nunes. And it was he who briefed Trump on the bugging. But don’t let your bias against Trump be hampered by mere facts.

#117 neo on 03.22.17 at 10:12 pm

At #106 TurnerNation
Rate hikes, higher mortgage qualification levels might do very little, why: all those people that bought in GTA 5-8 years ago – even with next-to-nothing down and 30-40 year amorts – have now the $300-800,000 of harvestable equity with which to lever and leverage into new houses.

Supply is so tight…this marginal buyer (and overseas buyers – with our low $CAD) can and will drive prices higher.

GTA = BPOE = Uppa up for forseeable future.

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

That would be true except we are seeing negative wage inflation over that time as well as the overall cost of living going through the roof, so much of that harvest has been wasted on consumption via HELOC’s.

Besides, whatever your house went up by, the next house you are buying is up just as much if not more so you really aren’t ahead at all unless you aggressively paid down your mortgage or you want to move an hour drive from where you currently are, which hasn’t been happening en masse because of the above paragraph.

#118 When Will They Raise Rates? on 03.22.17 at 10:18 pm

Hey Garth, forget the budget, GTA RE is going down! BIG TIME!

Read the following 2 articles and you will understand exactly why, when and how it will go down…

First, read this:

https://onbeyondinvesting.com/blogs/blog/i-attended-the-top-of-the-canadian-housing-market-so-you-didnt-have-to

Then, read this:

http://www.movesmartly.com/2017/03/data-shows-nvestors-are-speculating-on-single-family-homes-across-gta.html

Make sure you read the pdf attached to the second article. It is mind blowing:

http://realosophyrealty.blob.core.windows.net/static/InvestorDemandHouses.pdf

In a nutshell, it’s speculators driving the crazy house appreciation in the GTA now, but here’s the rub: All of these “investments” are now losing serious money on a monthly basis due to low cap rates and soaring prices. They are now relying solely on appreciation -and without appreciation, the speculators are toast.

My take away based on the above data is that once house prices in the GTA stop rising, there goes the incentive to hold onto these properties due to negative cash flow. People will be forced to sell en mass when the music stops.

It won’t be a correction, it will be a CRASH.

Look at the data in the second article.

#119 WUL on 03.22.17 at 10:18 pm

And not a single mention of Saskatchewan’s budget announced today.

Tory times are tough times for the Flatlanders (1/6th of the GTA pop.).

Especially if you like libraries or are a librarian.

#120 EhHey on 03.22.17 at 10:27 pm

Looks like DNC is fighting tooth and nail to block any of Trump’s reforms. Not to mention GOPs, CIA, FBi, and NSA wants to get rid of him too.

He will also meet a brick wall putting term limits on congress. The gravy train is that great in govt. There you have it, pretty much every tentacle in govt will stop him from doing what he wants. The swamp will likely succeed. Eventually, the left and the right will meet. So who’s going to win this battle?

Not much has been mention about the next sovereign and pension crisis. It will be like… when crap hits the fan so to speak. I have no doubt MSM will blame it on Trump despite inheriting it. Don’t forget Obama nearly double the US debt from 10 trillion to 20 trillion dollars yet T2, bromancing with Obama, wants the same path.

We will pay the piper one way or the other.

#121 acdel on 03.22.17 at 10:34 pm

#109 Leo Trollstoy

Not a shocker.

As I’ve mentioned in previous posts, the Canadian economy is strenghtening, inflation is low and cost of servicing debt is low. Money is plentiful, via jobs, borrowing or family.

Billy didn’t need to do anything. And he didn’t.

The CAD and USD will be in a dog fight since both our economies are BOOMING!

———————————————-

Please tell me that your post is satire! If not, wow, just wow!!

#122 Sushigirl on 03.22.17 at 10:36 pm

I’m stupid

He is stupid for sure and envy of the rich
I will rent you a room stupid in one of my boarding houses, regular price is 600/month for you stupid I will go 700/month cause I know your stupid

#123 dr. talc on 03.22.17 at 10:45 pm

the budget was on Oct 3

#124 NS Guy on 03.22.17 at 10:50 pm

Teaching coding to kids and young adults is so HOT now, but ultimately, it’s a waste of time.

Back in the 80’s when I got into high tech, I learned the coding languages of the day:

Basic
Fortran
MS-DOS
808X and 68000 machine code

These quickly became obsolete so I had to “upgrade my skills” and learn a whole new set of computer languages:

C
SQL
C++
UNIX shell

These lasted a couple of years, but to stay employed, I had to learn a whole new set of languages:

HTML
PERL
XML
CGI
more UNIX shell stuff

Then to keep up, I had to learn UNIX server (Sun/Solaris/HP-UX, AIX)

Then Linux came around and I had to learn Redhat, then SUSE.

Then Microsoft server became dominant and I had to learn Windows NT, then Windows Server 2003, 2008, 2012.

Now everything is on the cloud, and fewer places need dedicated servers, so I got into PC repair, laptops etc.

Now fewer and fewer people use PCs, laptops and do everything on mobile devices, which are not worth fixing – just throw them out and buy a new one.

In my 30 year high-tech career, any success I had was short-lived as the tech revolution made my skills and the company I worked for or created obsolete. Either getting crushed by a Silicon Valley giant, or outsourced to India or Pakistan, where they can hire “coders” for a tenth of a living wage in Canada.

So, anyone thinking they will get rich “coding” may be better off doing something else. Most of the mobile apps are given out free. Any idea you may have for a mobile app probably already exists, there’s probably a dozen or more similar apps available for free. Why invest 3 or 6 months developing an app that you will give away for free?

So as far as coding or high tech goes – I GIVE [email protected]

Am going to hunker down on my farm in Nova Scotia, cut firewood, grow organic veggies, perrenials, apply for every goddamned government assistance program there is, welfare, home heating assistance, home renovation assistance, medical/dental assistance.

I have given up being a contributer to this insane society, and will be a net consumer of social assistance from now on. Hoohaa.

#125 CL on 03.22.17 at 11:00 pm

Trump care deal tomorrow. “Wiretapping” exposed soon. Markets will soar after health care deal. Up Next…tax reform.

#126 econsensus on 03.22.17 at 11:15 pm

#27 rainclouds on 03.22.17 at 5:59 pm
#2 Bob

The US News. That’s your “evidence”?

It was a Joke, right?

—————————————————-
Everyone’s conversations are being monitored and stored by the CIA, NSA.
Main Steam Media is a joke.

On Tuesday 7 March 2017, WikiLeaks began its new series of leaks on the U.S. Central Intelligence Agency. Code-named “Vault 7” by WikiLeaks, it is the largest ever publication of confidential documents on the agency. This file dump corroborates the claim
https://wikileaks.org/ciav7p1/

If this guy is correct, U.S. intelligence is seriously corrupt and have been surveilling Trump and way too many people.
Democracy is being thwarted by U.S. intelligence.
http://www.newsmax.com/t/newsmax/article/779551

#127 Smoking Man on 03.22.17 at 11:24 pm

#183 James on 03.22.17 at 4:14 pm
#167 Smoking Man on 03.22.17 at 1:35 pm

#160 James on 03.22.17 at 12:39 pm
#72 Smoking Man on 03.21.17 at 9:14 pm

What Trudeau, Butts, and all the lefty loons don’t know. They follow a mental case without question. The following is a chat I had with the guy running earth back in Vegas near area 51, Shlong Zumanga my flight instructor on Nictonite. The secrets of the universe are in my book. I will have paperback copies available at the general Store in Belfountain on Sat May 13th.

Free of course for blog dogs who don’t punch me. Signature is going to cost you 10 bucks for making me work.
____________________________________________
Thus the real reason behind the Belfountian meet! Smoking Man want to prostitute himself and his book. Well Belfountain is off my check list that weekend. Good Luck with that one Garth. If I wanted to see hookers I could go to
…..

That triggered you?

What the hell you going to do next elections when librals will be voted out of existence.
___________________________________________
I don’t know? I don’t vote for Librals. Are they like Mexecan’s and aleon’s.

“Hey knuckle dragger” I paid my $50 for a 5 year membership. I am a card carrying conservative which is more than you are. When was the last time you actually attended a conservative party meeting? I know where I will be for May 27th.
………

KNUCKLE DRAGGER?
You suck at bull shit. I WROTE THE BOOK ON THAT TOPIC. I’m calling it like I see it.

Your Traped in a transomorphic paradox not knowing what you are.

God help this confused bastard. He’s not righteous.
100% lefty loon.

#128 EhHey on 03.22.17 at 11:30 pm

Am going to hunker down on my farm in Nova Scotia, cut firewood, grow organic veggies, perrenials,…

I have given up being a contributer to this insane society, and will be a net consumer of social assistance from now on. Hoohaa.
——————————————————————-

As they say, “If you can’t beat them, Go join them!”. When crap hit that fan, you are at least prepared. Thump up!

#129 jas on 03.22.17 at 11:41 pm

#122 NS Guy
I fully agree with you.
My career journey is very similar in software industry.

#130 EhHey on 03.22.17 at 11:41 pm

#113 NS Guy on 03.22.17 at 10:00 pm

Of course the US government spied on Trump.
They spy on everybody all the time: every phone call, every email, every Google search, every website, every angry rant on every pathetic blog, every Facebook post, every Tweet, every photo upload, every GPS ping from your cell phone, every library checkout is recorded, stored, analyzed and summarized by various US agencies and will never be erased
——————————————————————-

This is correct. It’s not technically wiretap like the old days but I get what Trump is saying. Pretty much every major western govts have their version of NSA.

#131 EhHey on 03.22.17 at 11:46 pm

#124 econsensus on 03.22.17 at 11:15 pm

#27 rainclouds on 03.22.17 at 5:59 pm
#2 Bob

The US News. That’s your “evidence”?

It was a Joke, right?

—————————————————-
Everyone’s conversations are being monitored and stored by the CIA, NSA.
Main Steam Media is a joke.
=====================================

Another reader that is well informed and not gullible what seems like endless seas of gullibles. Another thumb up!!

#132 neo on 03.22.17 at 11:54 pm

At #116 When Will They Raise Rates?

Was hoping to see Milton represented but no such luck. More speculators than regular home owners around here.

#133 Blacksheep on 03.23.17 at 12:06 am

Where is my comment Garth?

Gone. — Garth

#134 ozy on 03.23.17 at 12:22 am

OK, ok….. enough talk and no balk. What’s the impact on housing???? GTA

#135 Outsourced former coder on 03.23.17 at 1:22 am

#122 NS Guy

That’s what I said. Only not the same your points bring clarity to people who didn’t live through it beyond what I said.

The fact is government grants can’t bring prosperity to anybody other than those who administer the grants.

#136 Ed Devlin on 03.23.17 at 1:33 am

Defence: $8.5 billion in capital spending for equipment pushed off to 2035.

So the CF is screwed by the Liberals yet again!

No arctic patrol vessels, no replacement frigates, maybe a few more Super Hornets. Everything else rusts out. By 2035 an absolutely useless, incapable CF.

Is anybody really surprised?

#137 jay on 03.23.17 at 1:48 am

If you ever feel bad about selling your stock to early ,just think about poor Ronald Wayne . https://en.wikipedia.org/wiki/Ronald_Wayne

#138 Trumpster on 03.23.17 at 2:54 am

#17 TRUMP on 03.22.17 at 5:16 pm
Like a Bull in China shop……Trump isn’t done yet. Hasn’t even gotten started.

Where is the like button? something to add to your blog…

And lay off Trump, he’s the best thing that happened to Merica.

#139 Future Expatriate on 03.23.17 at 3:16 am

Told you here many days ago the Trump bubble was going to pop.

Wait until the indictments and perp walks and treason trials get really going.

#140 Michael on 03.23.17 at 5:51 am

” Third, all of the above is causing serious doubts that the real stuff investors want – slashed corporate taxes, relaxed regulations and mega-spending on infrastructure – may be delayed, or not happen at all. So, no growth spurt, no profit romp, no inflation pop. ”

Garth gives great general advice, but should get out of the prediction business. He has been wrong on most things Trump during the last two years.

What prediction? That’s exactly what markets fear. — Garth

#141 Millenial on 03.23.17 at 6:57 am

Guys, let’s be honest, Trump has been great for Canada.

He stopped TTIP, and looks like he may have had a hand in neutering the Liberal’s 2017 Federal Budget. What was all this talk I’ve heard about increasing capital gains and dividend taxes?

I hope Trump keeps up what he’s been doing until the Liberals become opposition, or at least become a minority government.

God Bless,
Millenial

#142 Dharma Bum on 03.23.17 at 7:03 am

#99 George

“Has anyone seen this ridiculous home? 35feet by 96feet in the middle of nowhere for 1.6 million dollars.”
——————————————————————–

Ha Ha! Looks like it was decorated by Liberace!

#143 I'm stupid on 03.23.17 at 7:06 am

#120 Sushigirl

You’re incredible, my point is that welfare should only be reserved for those that need it. How hard is that to understand? Taxing to redistribute wealth should only be used to help those that need the money as a last resort. I have never received a penny of government assistance as I don’t qualify for any. I don’t think it’s wrong because I don’t need the money to provide for my family, you obviously think it’s ok to take handouts just like a beggar.

Owning rental properties is a poor persons game, I wouldn’t waste my time chasing after renters to fix toilets. The Ferrari in my garage is probably worth more than your home! My tax bill is probably higher than your net worth. I just want to see my tax dollars used with respect and going to those that need it not to those that manipulate the system for a free lunch!

#144 Renter's Revenge! on 03.23.17 at 7:55 am

#96 Lana on 03.22.17 at 8:27 pm
And this pathetic blog was but one of many contributing to all the hype and worry, fanning flames of inside gossip you are privy to. Help educate us about the facts not contributing to ‘what if, it could happen’.

Forewarned is forearmed. You can now return to “real Housewives of Toronto.” — Garth

Forget the housewives, Lana. Hockey Wives is where it’s at!

#145 Contrarian Coyote on 03.23.17 at 8:00 am

#135 jay on 03.23.17 at 1:48 am
If you ever feel bad about selling your stock to early ,just think about poor Ronald Wayne . https://en.wikipedia.org/wiki/Ronald_Wayne

=====

Perhaps Mr. Wayne had a premonition of what it would have been like to work with Jobs in the future and what a POS Jobs would turn into later in life. Sounds like Ronald Wayne is leading a simpler life with a clear conscience. Hats off to the simple life!

#146 Renter's Revenge! on 03.23.17 at 8:02 am

#92 uncertainty #2 on 03.22.17 at 8:17 pm
I still remember the days when my dad made about $150K/year working 10-12 hour days and my mom was a stay-at-home complaining how much my dad worked.

Is this the same family as two working parents who make $75K each?

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

Probably not. Two people who are grumpy for the same reason will understand and respect each other more.

#147 A Reply to #23 Ace Goodheart on 03.23.17 at 8:18 am

You wrote, “And up come the prices of my bond ETFs, bought at the bottom of the market, while everyone was rushing into stocks.”

Buying bonds in a low-interest-rate environment is risky. And no, you’re not at the bottom of the market; you’re at the top.

http://www.finra.org/investors/understanding-bond-risk

You wrote, “In the words of the Master himself: ‘be greedy when others are fearful, and fearful when others are greedy.'”

As of Dec. 31, 2016, Buffett’s asset mix is 49% common stocks, 24% Treasury bills, 11% cash, 9% bonds, and 7% preferred stocks and warrants.

http://www.berkshirehathaway.com/2016ar/2016ar.pdf

#148 Response to #68 - Outsourced Former Coder on 03.23.17 at 8:24 am

All of what you say is true. To add to that, since about the mid to late 90s, I kept seeing jobs that involved capturing all the knowledge of a company’s IT and development staff and documenting it. I remember interviews where I was sitting between the staff (who were in the cross hairs) and the incoming replacements. To say that the interviews were frosty is an understatement.

As time progressed, I took on assignments where the bloodletting had been done, the staff were gone, and I was sifting through the ashes trying to document operational procedures and to put together run books and the like. I sometimes wonder if the whole ITIL/ITSM thing is just an attempt to impose a structure that exposes what people know for others to use. It isn’t of course but I still wonder.

The point is that all of what you so clearly identify in your comment title began decades ago. For the government to start an initiative such as this now is truly closing the barn door after the animals have either escaped or been led to slaughter.

#149 crowdedelevatorfartz on 03.23.17 at 8:34 am

@#113 NS Guy
“is recorded, stored, analyzed and summarized by various US agencies and will never be erased…..”
********************************************
Well, some of what you stated is true.
The information collected and stored by the various “security and spy agencies (that rarely talk to each other and jealously guard their info) is constantly increasing.
Software sifts for “key words and phrases”
Unfortunately, estimates for this mindless, useless data collection are; that for every man woman and child in the US alone there is the equivalent of 10 filing cabinets full of useless gibberish that no human could possibly look at. Hence the “searching software”.
We dont know how many “crazies” this software searching stuff catches. Security agencies rarely reveal the successful wins.
But….if someone does something totally nutter….the info might be usefull after the fact ,at least they can go back and sift through his last 10 years of emails and phone calls.
Unless, of course, they used throw away phones and different email addresses and names……

SmartPhones are easily hackable and essentially if you have downloaded an app. You could be “surveiled” without your knowledge.
And not just by spy agencies…….

CBC MarketPlace had an excellent eyeopener just a few days ago about it.

http://www.google.ca/url?url=http://www.cbc.ca/player/play/849335875994&rct=j&frm=1&q=&esrc=s&sa=U&ved=0ahUKEwjIx92H0ezSAhUI4mMKHWFSDbQQFggUMAA&usg=AFQjCNHfHCLGRn_NF3A-D0Ic3GFKIVUPPA

#150 common sense on 03.23.17 at 8:46 am

Hey Leo T.

“BOOMING”!!!!!!!!! I know your sarcastic but 235,000 more new claims added in USA?

RATE HIKES? One and done in 2017 with a reversal coming sooner than later…..

Reality and the Democrats have looooooong memories.

#151 NoName on 03.23.17 at 8:59 am

#134 Ed Devlin on 03.23.17 at 1:33 am

CF always get short changed regardless what gov. is in power, hyper couldn’t wait to do it either…

Funny thing about cf18 is that is one thirsty son of the motherless goat, I wonder how long before “they” will retire them because they are not environmentally sound, and cancel ammo yet, because it contains led…

#152 Herb on 03.23.17 at 9:04 am

#124 ecosensus,

thanks. Corresponds with what I’ve picked up since the 1970’s. And I’m no conspiracy theorist.

#153 common sense on 03.23.17 at 9:06 am

If the health care reversal does not come through today (which if anyone had a brain, it shouldn’t)

LOOK OUT BELOW , Hope your shorts are in place and break out the popcorn because I don’t see any bright lights beckoning in the near future to turn this 8 years of madness around.

Do not get to fussed about temporary moves. — Garth

#154 Trumpocalypse2017 on 03.23.17 at 9:30 am

We’re about to go over the cliff of Trump World. True chaos begins shortly. If you thought the first hundred days were looking weird, the soon-to-come last hundred days will blow you away. Likely, literally.

Here’s some interesting research on what we’re heading into:

https://www.linkedin.com/pulse/populism-phenomenon-ray-dalio?trk=eml-email_feed_ecosystem_digest_01-hero-0-null&midToken=AQHofEihfKv0rw&fromEmail=fromEmail&ut=10sMUYzTPz_DE1

Summary:

“In summary, populism is…

Power to the common man…
…Through the tactic of attacking the establishment, the elites, and the powerful…
…Brought about by wealth and opportunity gaps, xenophobia, and people being fed up with government not working effectively, which leads to:
…The emergence of the strong leader to serve the common man and make the system run more efficiently…
…Protectionism…
…Nationalism…
…Militarism…
…Greater conflict, and…
…Greater attempts to influence or control the media. “

#155 Buddy can you spare $39.9 million? on 03.23.17 at 9:35 am

$39.9 million over 5 years for a Housing Statistics Framework
The creation of a Housing Statistics Framework was promised in the budget. The proposed framework will include a nationwide database of all properties in Canada and data from the framework will be published by Statistics Canada starting in the fall of 2017. The Framework will also provide up-to-date information on purchases and sales, including the degree of foreign ownership, as well as information on homeowner demographics and financing. This data will allow policymakers to accurately analyze the housing market.

#156 Ret on 03.23.17 at 10:14 am

GST tax to be paid on Uber fares. Rather an odd tax loophole to target.

#157 pBrasseur on 03.23.17 at 10:16 am

Lana #96 And this pathetic blog was but one of many contributing to all the hype and worry, fanning flames of inside gossip you are privy to. Help educate us about the facts not contributing to ‘what if, it could happen’.

Damn right! But you’re a fool if you think the purpose of this blog is to educate.

#158 Blacksheep on 03.23.17 at 10:47 am

Blacksheep #131,

Where is my comment Garth?

“Gone. — Garth”
————————–

Why was it not published?

Which policy or rule did I break?

The ‘irritating Garth’ policy. This is not a Trump Defence blog. — Garth

#159 IHCTD9 on 03.23.17 at 10:59 am

As if Canadians needed another reason to forego having kids. Men already get hosed from one end of the spectrum to the other, and now a “gender sensitive” budget (read biased to favour females) too?

If I were a young buck right now with the knowledge I currently posses regarding 1st world Politics – I’d just pass on shacking up, marriage, and kids altogether. Way too damn risky in this country. It’s almost to a point where I can start asserting that a young Man looking to marry and start a family in Canada is an idiot.

I guess T2 and Co are totally down with importing new families into Canada, because young Canadian Men are already realizing that marriage and family are literally a quicksand bog just waiting for them to step into. And hey – you might end up having a son or two – then what?

#160 45north on 03.23.17 at 11:11 am

Andrew Coyne: talking about the Liberal budget:

But of course it isn’t just that they’ve run out of money: they’ve run out of ideas. Or at least, good ideas.

What they have are a lot of meaningless buzzwords. I have read a good many tedious, empty budgets in my time. I cannot recall ever reading one quite as mind-bendingly empty as this one.

http://mcaf.ee/0gf2kn

#161 traderJim on 03.23.17 at 11:12 am

#45 Henry

No need for such drastic procedures Henry, all you need to do to change gender these days is say so.

The same people who are big believers in climate ‘science’ say there is no scientific basis for gender.

So get yourself to a Reitmans, buy a few size 37 dresses and you too can become an instant victim for the rest of your life.

Plus, you can compete in women’s sporting events and make out like a bandit.

#162 traderJim on 03.23.17 at 11:20 am

I see Garth is a believer in the Bill Clinton school of logic: It depends what the meaning of ‘is’ is.

I can see the next headlines: “Trump ‘Tower’ was not tapped, just phone calls and electronic messages going into it.”

“Trump and his team were not surveilled, therefore we have no evidence of anything, but we are investigating them for collusion with Russia based on nothing, just because. And our investigations don’t involve surveillance. Or wiretaps. Or investigating apparently. But we are able to make a lot of unsubstantiated claims based on anonymous sources”

Personally, I hope the left continues putting all their marbles in the Russia basket. Good distraction from what’s really going on.

Trump said: “Terrible! Just found out that Obama had my “wires tapped” in Trump Tower just before the victory.” Utterly false, according to all credible sources. — Garth

#163 paulo on 03.23.17 at 11:26 am

#82
I am curious to see if wild bill’s provincial counterparts have not been assigned to do the dirty work.
We are still awaiting the call in Ontario regarding implementing a “Chinese Dude” type tax
care to wager the chances of it coming up shortly.

#164 45north on 03.23.17 at 11:30 am

Stephen Gordon: explaining the extra cost associated with government-sanctioned projects:

The word “rent” has a particular meaning for economists, usually negative. In a properly-functioning market, payments should reflect the minimum compensation necessary to bring about the most efficient outcomes.

http://mcaf.ee/yjie8d

Service Canada has been charging rent. $1.4 billion a year, plus extra top-ups for this and that.

Service Canada’s underlying philosophy is bureaucratic centralization.

I worked in the civil service for 40 years. I tried to provide excellent service at minimum cost. In the area that I controlled. Constantly I was subjected to this centralization philosophy. The promise was always that centralization was going to be more efficient.

talk about bureaucratic momentum, Service Canada is it

#165 pBrasseur on 03.23.17 at 11:46 am

«Big scare: No hike in capital gains tax, no changes to corporate tax, no doc’s tax, no diddling with dividends or stock options. Nada. Ziltch. But it is all ‘under review’. Phew.»

It was easy to predict and I did. No government in their right mind would punish investors when the economy desperately needs more investments. Even the Liberals know that. Also remember that the Liberals want one thing above all else: to remain in power. You can’t do that if you piss off everyone with a dollar in the country.

So I repeat myself: forget it, not gonna happen, use you judgement instead of listening to stupid rumors from your financial expert bodies.

For Trump, again chill, forget the Twitter drama for a moment, the US economy is on a roll and the next recession is still very far away. The important thing to understand about Trump is not that he will stimulate growth, it’s the fact that he’s not going to kill it.

#166 traderJim on 03.23.17 at 11:49 am

In case anyone actually wants a concise and probably accurate summary of the whole Russia thing:

https://www.wsj.com/articles/trumps-russia-house-1490222128

#167 chapter 9 on 03.23.17 at 11:56 am

#147 crowededelevatorfartz
The information collected and stored by various”security and spy agencies (that rarely talk to each other and jealously guard their info) in constantly increasing.

Actually,Obama in his last few days in office along with the attorney general Loretta Lynch signed new rules January 3/17 to expand the power to share personal communications with 16 other intelligence agencies, before applying privacy protection. The new laws drastically relax limits with information gathering by surveillance operations and just happen to be unregulated by wiretapping laws.

#168 Smoking Man on 03.23.17 at 12:00 pm

Wow. That little shit bungee on 37th street sold.
1,205,000

#169 Ace Goodheart on 03.23.17 at 12:02 pm

#145 A Reply to #23 Ace Goodheart on 03.23.17 at 8:18 am

Not sure what you mean by this. We have had low interest rates since 2008, so 9 years. Are you suggesting that during this period, purchasing bonds is risky?

Buffett’s asset mix is very similar to what I have. Recently I have been taking money off the top of my stocks and purchasing bonds and government debt. This is due to stocks going up and bond and government debt funds going down. This is a weighting process that I do, to keep things in line. I understand that it looks weird and people will say “no you should be buying stocks, they’re going up”.

With asset classes, I always buy what is going DOWN, not UP.

Buying stocks in any environment is risky. Equity is the riskiest of investments. A lot of people purchase stocks in index funds to cut down the risk of owning individual companies. I still purchase individual company equity, as I am able to accurately vet the company and determine what the stock is really worth. I do consider my stock holdings to be much (much, much, much) higher risk than my bond EFTs.

A bond ETF is not an individual bond. It is a collection of bonds, usually laddered, and these bonds are bought and sold constantly by the fund. A laddered bond ETF is not a high risk instrument that should not be purchased during a low interest rate period. It is very safe to own these things.

They are cheap right now and have been for about six months, basically going down since Trump got elected. They are not over priced. They will go up again, likely starting to rise this summer and continuing into Fall/Winter 2017.

The reason for this is that stock markets are slightly over valued and also Trump is not going to have the positive effect on markets that everyone thought he would. Once we get a pull back, people will start to pull their money out of the markets and put it back into fixed. The “herd” mentality prevails, always.

#170 Budget 2017 on 03.23.17 at 12:05 pm

Here’s the text:
http://www.budget.gc.ca/2017/docs/plan/budget-2017-en.pdf

The details of economic and fiscal projections can be found in Annex 1 (pp. 243-267).

#171 james on 03.23.17 at 12:27 pm

#125 Smoking Man on 03.22.17 at 11:24 pm
#183 James on 03.22.17 at 4:14 pm
#167 Smoking Man on 03.22.17 at 1:35 pm
#160 James on 03.22.17 at 12:39 pm
#72 Smoking Man on 03.21.17 at 9:14 pm
What Trudeau, Butts, and all the lefty loons don’t know. They follow a mental case without question. The following is a chat I had with the guy running earth back in Vegas near area 51, Shlong Zumanga my flight instructor on Nictonite. The secrets of the universe are in my book. I will have paperback copies available at the general Store in Belfountain on Sat May 13th.
Free of course for blog dogs who don’t punch me. Signature is going to cost you 10 bucks for making me work.
____________________________________________
Thus the real reason behind the Belfountian meet! Smoking Man want to prostitute himself and his book. Well Belfountain is off my check list that weekend. Good Luck with that one Garth. If I wanted to see hookers I could go to
…..
That triggered you?
What the hell you going to do next elections when librals will be voted out of existence.
___________________________________________
I don’t know? I don’t vote for Librals. Are they like Mexecan’s and aleon’s.
“Hey knuckle dragger” I paid my $50 for a 5 year membership. I am a card carrying conservative which is more than you are. When was the last time you actually attended a conservative party meeting? I know where I will be for May 27th.
………
KNUCKLE DRAGGER?
You suck at bull shit. I WROTE THE BOOK ON THAT TOPIC. I’m calling it like I see it.
Your Traped in a transomorphic paradox not knowing what you are.
God help this confused bastard. He’s not righteous.
100% lefty loon.
_________________________________________
Your right I don’t have time for bullshit and you are the master of bullshit. I commend you sir! So can I pencil you down for May 27th?

#172 Penny Henny on 03.23.17 at 12:27 pm

#25 Jimmy on 03.22.17 at 5:38 pm
Come on Josef,
I am the King of First.
You’re breaking the rules.
/////////////////////

All hail Jimmy.
Rightful King of the Firsts.

#173 james on 03.23.17 at 12:41 pm

#160 traderJim on 03.23.17 at 11:20 am

I see Garth is a believer in the Bill Clinton school of logic: It depends what the meaning of ‘is’ is.
I can see the next headlines: “Trump ‘Tower’ was not tapped, just phone calls and electronic messages going into it.”
“Trump and his team were not surveilled, therefore we have no evidence of anything, but we are investigating them for collusion with Russia based on nothing, just because. And our investigations don’t involve surveillance. Or wiretaps. Or investigating apparently. But we are able to make a lot of unsubstantiated claims based on anonymous sources”
Personally, I hope the left continues putting all their marbles in the Russia basket. Good distraction from what’s really going on.
………………………………………………………………
Trump said: “Terrible! Just found out that Obama had my “wires tapped” in Trump Tower just before the victory.” Utterly false, according to all credible sources. — Garth
___________________________________________
What are you saying Garth, that Trump lies? Trump is his own source and many,many smart, important, qualified good people tell him so!
Trump was unrepentant about his charge that former President Barack Obama “wiretapped” his phones at Trump Tower during the 2016 election an allegation soundly refuted by FBI Director James Comey in testimony before the House Intelligence Committee earlier this week. Trump defended the claim by shifting its focus.
“When I said wiretapping, it was in quotes. Because a wiretapping is, you know, today it is different than wire tapping. It is just a good description. But wiretapping was in quotes. What I’m talking about is surveillance,” Trump told Time.

#174 james on 03.23.17 at 12:44 pm

Well at least my sister gets a pass on this one.
For families: $7 billion over 10 years for new spaces, starting 2018-19. Parental leave zooms from 12 months to 18 months.
Dam I’m paying for her leave. So can I deduct her as an employee?

#175 jess on 03.23.17 at 12:46 pm

“The system has lost its mind,” he added. “They say we are traitors in Russia. And I say, ‘Who did we betray?’ I gave testimony against the citizen of another country who was president, who fled his country, created a bloodbath, betrayed his country.”

This week, he was shot to death in broad daylight outside an upscale hotel in Kiev.
I won’t hide,’ — Former Russian MP Voronenkov said, one month before his assassination on a street in Kyiv in broad daylight.

The former MP, 45, had been a member of Russia’s Communist party. His wife, the opera singer Maria Maksakova, was an MP with the pro-Kremlin United Russia party. She reportedly fled to Ukraine with her husband five months ago.

Voronenkov was apparently preparing to give evidence in a case against Ukraine’s former president Viktor Yanukovych, who fled to Russia after the Maidan revolution in 2014.
https://www.theguardian.com/world/2017/mar/23/former-russian-mp-denis-voronenkov-shot-dead-in-kiev

#176 Pre-Retiree on 03.23.17 at 1:01 pm

#116 When will they raise rates?

Thanks for that. I enjoyed the articles.
How to make money in real estate? Easy. Give a seminar to 15,000 at $150/pp and raise $2,250,000.00!

#177 not 1st on 03.23.17 at 1:21 pm

Garth, remember what I said about bonds?

http://business.financialpost.com/news/economy/canada-to-sell-record-amount-of-bonds-142-billion-to-fund-budgets-deficit-fueled-spending-promises

Tacit tax increase approved and funded by the general public. Who buys these? Stupidity in the extreme.

#178 A Reply to #167 Ace Goodheart on 03.23.17 at 1:29 pm

You wrote, “Not sure what you mean by this. We have had low interest rates since 2008, so 9 years. Are you suggesting that during this period, purchasing bonds is risky?”

Don’t take my word for it.

The SEC issued an investor bulletin pointing out that “it is particularly important for investors to consider interest rate risk when they purchase bonds in a low-interest-rate environment.”

https://www.sec.gov/investor/alerts/ib_interestraterisk.pdf

FINRA issued an investor alert saying, “If you hold outstanding bonds, particularly those with a low interest rate and high duration, you may experience price drops as interest rates rise along the way. If you have money in a bond fund that holds primarily long-term bonds, expect the value of that fund to decline, perhaps significantly, when interest rates rise.”

http://www.finra.org/investors/alerts/duration-what-interest-rate-hike-could-do-your-bond-portfolio

#179 SeeB on 03.23.17 at 1:38 pm

“Transit credit killed: 15% public transit tax credit phased out this year. (partial CBC summary)”

————————————

Tax the poor instead. What else is new. I’ll happily eat crow if tons of jobs and new businesses spring up as a result of this, but let’s be serious…

#180 Bytor the Snow Dog on 03.23.17 at 1:41 pm

Wanna know why the deficit’s so big? This is a small example of the type of government spending I’m against:

http://www.cbc.ca/news/politics/budget-fertility-tax-deduction-1.4037046

#181 traderJim on 03.23.17 at 1:48 pm

DELETED

#182 Euro Observer on 03.23.17 at 1:50 pm

#12 Fall Budget Update the real budget?

BAT will absolutely sink the economy. Whatever is left from it after the super credit bubble capital miss-allocations.

BAT will effectively mean the end of NAFTA.

#183 lmao on 03.23.17 at 2:01 pm

Why was it not published?

Which policy or rule did I break?

The ‘irritating Garth’ policy. This is not a Trump Defence blog. — Garth
………….

spit out my coffee!!!!!!

#184 traderJim on 03.23.17 at 2:01 pm

BTW, there’s absolutely zero evidence that Russia ‘hacked’ the election. Yet prominent Democrats including Senators and members of Congress are screaming that Trump is not a legitimate President, and that he has ties to Russia.

So only Trump has to have hard evidence before crying foul I suppose?

Meanwhile Hillary arranged for the sale of uranium to Russia and her foundation received tens of millions in return. (The foundation that employed Chelsea and paid for her wedding, yes that one.)

Hmmmm.

Now if Trump’s really smart he will use this Russia hacked the election nonsense to start a comprehensive investigation into how votes could be fraudulently cast, whether by ‘hacking’ or other means.

We all know it couldn’t be done by ‘hacking’, but by other means it’s clearly happening, it’s only a question of how big is the fraud?

Since elections are won by a few thousand votes in a handful of swing states, no need for there to be 3 million fraudulent votes, 30,000 could make the difference.

Dems screaming investigations into a ‘fraudulent’ election should be careful what they wish for.

#185 jess on 03.23.17 at 2:04 pm

fake news

Suspected of 46 offenses in Finland, Janitskin claims he is now in Russia
The founder of the fake news website MV Lehti, Ilja Janitskin, has announced on Facebook that he has travelled to Russia from Spain. In late September a Finnish court issued an EU-wide arrest warrant for the anti-immigrant agitator for a rash of serious crimes, including aggravated slander and copyright infringement.

http://foreignpolicy.com/2017/03/01/why-is-finland-able-to-fend-off-putins-information-war/

In 2014, Aro followed up on reports of a Russian “troll factory” in St. Petersburg that was seeking to influence public opinion in the West about Kremlin maneuvers abroad. After she published her initial investigation, which documented how pro-Russian voices were attempted to shape the public discourse on Ukraine, her name appeared on Russian nationalist websites where she was derided as a Western intelligence agent, bombarded with anonymous abusive messages on social media, and labeled a drug dealer. “NATO is at the core of everything,” Aro said. “The goal of these campaigns is to discredit the voices in Finland that are critical of Russia.”

The man who became the main voice targeting Aro was Johan Backman. An outspoken supporter of the Kremlin who is fluent in Russian, Backman — a Finn — was responsible for the bulk of the derisive commentary that appeared about Aro. Backman serves as the representative in Northern Europe for the Russian Institute for Strategic Studies, a state-funded research group known for its Kremlin connections during the Cold War and currently led by a Soviet-era intelligence officer. Backman has defended his commentary as free speech”

#186 conan on 03.23.17 at 2:06 pm

“The second T2 budget failed to live up to the scary hype”

Most of the scary hype came from your writings and the steerage committee parroting it. You even had me scared.

Are you sure you are not getting back into politics? This time for Team Blue? They are a mess.

This blog brought you the predictions of Bay Street analysts and major accounting firms. If you don’t want such information, go away. Easy. — Garth

#187 Euro Observer on 03.23.17 at 2:23 pm

http://fortune.com/worlds-greatest-leaders/

Selfie guy is # 31 in the list of the greatest world leaders.

Kind of upped my confidence and raised my self-esteem, if this guy is a world leader, I am the visionary of the millennium.

#188 AGuyInVancouver on 03.23.17 at 2:25 pm

“Please don’t tax rich foreigners”

Said no one ever. The budget is a missed opportunity to monetize foreign money’s interest in laundering their ill gotten gains through Canada. We don’t need more studies, we need action. Even if it is just 5-10% (a figure I’d say it too low) foreign buyers would be enough to skew a market.

#189 mike from mtl on 03.23.17 at 2:40 pm

#154 Ret on 03.23.17 at 10:14 am
GST tax to be paid on Uber fares. Rather an odd tax loophole to target.

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

How, it totally makes sense. A company is accepting payments here and in turn paying their ‘contractors’ in local currency.

Try operating a food truck not declaring any tax & paying your employees tax free. The CRA would shut you down so fast.

Why Uber were not targeted before is somewhat strange to me. The licencing issue is whatever to me but having a totally illegal tax evasion is very clear.

#190 crowdedelevatorfartz on 03.23.17 at 2:43 pm

@# 165 Chapter 9
“to expand the power to share personal communications with 16 other intelligence agencies”
********************************************

They may have “passed a law” allowing them to “share” but , I’m sorry , old habits die hard.
None of these agencies will share anything unless it will benefit them.
“National Security” doesn’t even enter into it.
Its all about looking good and protecting their fiefdoms….

#191 Blacksheep on 03.23.17 at 2:48 pm

Blacksheep # 156,

Why was it not published?

Which policy or rule did I break?

“The ‘irritating Garth’ policy. This is not a Trump Defence blog. — Garth”
—————————————-
I’m just discussing what’s in your blog, I’m not vilifying or defending anyone.

http://www.cnn.com/2017/03/22/politics/devin-nunes-trump-communications/index.html

Your “irritated” because: “There is zero evidence to support Trump’s bombshell claim” was just proven false. Life’s a bitch, sometimes you kick, sometimes you get kicked.

Finish the sentence… that Obama did it. Surely Trump does not need Canadian sycophants like you to defend him. Further posts on this will be deleted. — Garth

#192 pBrasseur on 03.23.17 at 3:08 pm

It is true that this budget leaves many questions up in the air and that in itself is very bad for the economy.

One such question is about capital gains tax inclusion ratio.

I personally don’t think any government will touch this because they would find out (and be warned) very quickly how disastrous this would be for the economy as the river of capital already flowing out of this country could rapidly become a tsunami! If you exclude oil and real estate Canada is a true basket case when it comes to private investment, the very last thing you’d want to do right now is to scare away investors and top talent with tax uncertainties.

So the mere fact that this question (among others) is still in the air demonstrates how utterly incompetent this government is!

God I miss Harper!

#193 A Reply to #29 Smartalox on 03.23.17 at 3:33 pm

“Alarmed that decades of crucial climate measurements could vanish under a hostile Trump administration, scientists have begun a feverish attempt to copy reams of government data onto independent servers in hopes of safeguarding it from any political interference.”

https://www.washingtonpost.com/news/energy-environment/wp/2016/12/13/scientists-are-frantically-copying-u-s-climate-data-fearing-it-might-vanish-under-trump/?utm_term=.3786db893e70

#194 IHCTD9 on 03.23.17 at 3:34 pm

#112 Bytor the Snow Dog on 03.22.17 at 9:56 pm
Juuust in case the last one gets deleted, I’ll share my thoughts on the budget here: It’s a whole lotta nuthin’.

That said, all of the loud and proud feminists should be up in arms that T2 and Wild Bill seem to think that women are weak and need all of these special programs to help them.

Equality is in the eye of the beholder, I guess.
__________________________________________

Only 47% of the workforce is female!

Something must be done!

More vote buying…

#195 Reply to #176 on 03.23.17 at 3:39 pm

Think they’ll delete the manipulated ones?

#196 James on 03.23.17 at 3:50 pm

#182 traderJim on 03.23.17 at 2:01 pm

Wow you must be Smoking Man and Donald’s sycophant!

#197 Another Deckchair on 03.23.17 at 4:16 pm

@122 NS_Guy:

My career spans 35+ years, and keeps getting better.

One has to lead the pack, or spend most of your time trying to keep up. I love being one of the leaders; I get to choose the fun jobs, and the $$ follows.

Apps writing was a lost cause 5+ years ago, if you looked. No individual wants to pay for an App. Money to be made on writing (say) a Bank’s mobile app – you just have to find the client who wants the job done (and done well).

I do understand that many jobs can be outsourced to cheaper places; 20 years ago contractors could make the 2017 equivalent of $1,000.00 per day, now you have to be a “security expert” to make just shy of that. And, being a “security expert” is a stressful job, much more fun to do creative things, even if the salary is not quite as high.

Now, how the “Federal Coder Training Budget” will do is obvious; zero good will come out of it, of course, other than spreading tax money around, but THERE IS AN OPPORTUNITY FOR YOU TO BE PART OF THIS. Go for it!

#198 Euro Observer on 03.23.17 at 4:51 pm

Is there any legal way to impeach the idiots in power?

https://ca.finance.yahoo.com/news/canadas-millennials-are-the-group-hit-hardest-by-the-2017-federal-budget-190725069.html

#199 simplyput7 on 03.23.17 at 5:02 pm

#178 Bytor the Snow Dog

Paying for fertility treatments is a no-brainer, you will get the tax credit back and then some from people who have children and pay lots of taxes while raising them.

It will also help increase the working age population that is slowly diminishing (http://www.cbc.ca/news/business/statistics-canada-seniors-1.3248295), so that the government can afford to pay for the pensions and health care sytems we take for granted.

#200 jess on 03.23.17 at 5:21 pm

exploiting foreign students

http://www.cbc.ca/news/canada/hamilton/overcrowded-hamilton-house-near-mcmaster-has-12-bedrooms-1.4035008

#201 Casey on 03.23.17 at 5:33 pm

Nathan Cullen on the 2017 Budget – 85% of this budget is back loaded, some until election year, some decades down the road… there are no words.

#202 crowdedelevatorfartz on 03.23.17 at 5:37 pm

@#196 Euro Currency
“Is there any legal way to impeach the idiots in power?”
******************************************
Impeachment?
Depends on which side of the 49th parallel you’re on…….

#203 Rosa Klebb on 03.24.17 at 12:41 pm

OK, renewal time next year. Coming off a 2.89% bargain it’s going to suck a little bit to take a higher rate, but then 2.89% was a gift and I’ve been paying ~$900/month including property tax for a home in smalltown Nova Scotia within striking distance of the not-so-big stink, Halifax. Near $200/month property tax. Robber council.

Anyway, I’m looking at 5.5% for a 10 year fixed or around 4.6% for 5-year fixed. I’m curious about your view, obviously. I’m leaning toward 10 year, seeing the rate as historically great still. I like peace of mind and there’s something to avoiding rate shock.

Mistake. Go five – which will not be 4.6% unless you have no equity and no credit rating. — Garth

#204 Jason on 03.24.17 at 1:43 pm

@ #186 Euro Observer on 03.23.17 at 2:23 pm

World’s leaders include Donald Trump, and Putin. The bar wasn’t too high.