Well, the news just keeps on getting worse for poor Bill Morneau. On Monday he was humiliated at a presser by his boss who didn’t trust him enough to answer media questions. T2 is no happy puppy. On Tuesday more revelations about Morneau’s ethics problem, unable to make it clear why he sheltered a French villa in an undisclosed corporation or refused to put his millions in a blind trust, as ministers are required.
The same day the bank regulator dropped a bomb on the housing market, and Wednesday the federal agency CMHC talked about how it would survive a 30% real estate crash. Gulp. Plus the federal ethics commish revealed our finance minister keeps a huge equity stake in his publicly-traded family business, Morneau Shepell, under his control in a holding company.
All of this happened while Ottawa targeted any small incorporation that earns more than $50,000 a year on retained earnings – taxing the money at a rate of 73%. But the finance minister’s own slew of company stock has gained 14.3% since January, with the maximum rate of tax he’ll pay on that profit being merely 25%. Suck. Blow. The optics are terrible.
(By keeping shares within a holding company, the minister avoids disclosing the securities to the parliamentary watchdog. Sounds kinda like retained earnings, doesn’t it?)
By casting entrepreneurs, professionals and the self-employed as tax cheats, social pariahs, loopholers and sprinklers, the feds tried to forge an us-and-them wedge issue as justification for taxing a slew of non-wealthy people who create half the jobs. It failed. And in the process, the prime minister looked like an out-of-touch millionaire with a finance minister who wants two sets of rules. One for rich guys. Like him. One for you.
Well, here’s the latest news on the fading Crusade against Incorporations: if you earn money in your corp, pay the taxes on it and invest the remainder, you can grow it by up to $50,000 a year, using the funds later for payroll, expansion, to retire on or finance a mat leave. Of course if the cash passes into your hands it will be taxed again, but not at 73%. Above fifty grand, you’re SOL.
We also know changes will be delayed until well into 2018. The proposed legislation will be tabled with the 2018 budget (in March or April), discussed, then implemented. That might mean a 2019 launch. As for income-splitting between spouses who have created a business and both own equity in it, we’re waiting for that shoe to drop.
Meanwhile, this self-inflicted kick in the stones could not have come at a worse time for the T2 gang. NAFTA is falling apart as the Trump White House insists on America-first provisions, while Ottawa wants the trade deal to foster gender parity. Seriously. The bank cop’s B-20 bomber has just taken off and will be reducing real estate to controlled rubble over the next few years. The US central bank is 80% certain to raise interest rates again by the end of the year, cranking long-term Canadian mortgage rates. Household debt is at another all-time high and 12,000 people just went overboard at Sears Canada. The Canadian economy has been growing well, but employment and wages are stuck. The federal deficit is on track to be 300% larger than we were assured. And the minister of finance is being proven to be a bigger loopholer than the family doctors, dentists and veterinarians he’s hounding.
It’s a rare thing for a finance minister to be booted. But there’s little doubt Bill Morneau is toast. Only the timing and style of his punting remain. The guy has single-handedly transformed the government’s image from street-fighting defenders of the deplorable middle class to entitled trust fund brats picking on people with real jobs. There is no recovery from the French villa. The personal holdcos. The ethics questions. Or the fact your company specializes in tax-avoiding retirement strategies for the highest-paid CEOs, while you’re terrorizing hair salon owners.
Trust me. If you want to be in politics, be perfect. You’re never unwatched, pardoned nor given the benefit of the doubt. Unless your name is Trump.
Well, Bill does it again Thursday morning as the prime minister makes sure he’s all used up. The fun starts at 9:15 am, live here.
259 comments ↓
HOUSING BUSTS DON’T REQUIRE RISING RATES
It’s no secret that the world has seen many national housing bubbles in the past 50 years and in each case the boom years (the party) ended in a multi-year bust (the after-party, if you will).
Of course, the after-party was enjoyed by those who had waited for house prices to fall. History has shown that, in each case, those who waited for prices to fall and return to the long-term mean were rewarded for doing their homework and for their patience. History has proven over and over that it is always worth the wait.
History has also verified the following facts:
* Sometimes the inevitable major price correction (the bust) coincides with rising mortgage rates.
* Sometimes the inevitable major price correction (the bust) does not coincide with rising mortgage rates.
There are examples of both cases.
“COMMISSION” LOGIC
Those who work in the housing industry would have you believe the following:
A price correction won’t happen in Canada (this is false). Their justification: It would take a major increase in rates for that to happen (also false).
Again, history has shown that the inevitable bust of a housing bubble isn’t dependent on rising rates. It’s true that there is a (100%) negative correlation between the direction of interest rates and the direction of house prices, but housing busts simply don’t require a rising rate environment.
And once a bubble exists, it is only a matter of time before prices fall back to the level which, historically, had been supported by economic fundamentals (before lax lending standards were implemented). This, of course, happens with or without rising rates.
THE UNIVERSAL SALES PITCH
History has shown us a lot about housing bubbles and the interaction between those who sell houses and those who take on mortgages to buy houses.
Those who work in the housing industry often try to come up with ways to justify that right now is a good time to buy (they need to get paid). The bottom line with every sales pitch they come up with is that house prices can only rise so, not only is it not worth waiting for prices to fall, but if you don’t buy right now you will “miss out”.
This same basic (false) logic has been used by millions of house salespeople throughout the world over the past 50 years and the market has always proven them wrong.
You would have to be extremely naïve to fall for the same sales pitch (about Canada) that has worked on tens of millions of buyers worldwide (at peak prices of bubbles in other countries).
AND THERE’S NO SAFETY IN NUMBERS
Every housing bust involves an unusually high number of mortgage defaults (and recourse mortgages don’t prevent housing busts).
It’s been studied and proven that, in a housing bubble, those who borrowed against their properties to mortgage an additional property put themselves in the group most likely to default as the inevitable bust played out.
Clearly it’s the case that housing busts are a threat to a wide range of mortgage holders, and not just those who took out mortgages near the peak.
IN A HOUSING BUBBLE, KNOWING THE FACTS PUTS YOU AT AN ADVANTAGE
You can choose to be angry and try to deny the above facts, or you can accept them and work with them.
Another fact: The housing boom-bust cycle always involves a hard landing.
“Federal deficit will be 300% more than we were assured.” Extraordinary claims require extraordinary evidence. Where did you here this?
Morneau is a weasel. Not declaring his assets and not putting them in a blind trust. I’ve seen him deflecting or outright refusing to answer questions in interviews. He is unethical and should be punted.
http://www.cbc.ca/news/politics/morneau-company-france-ethics-1.4351933
“entitled trust fund brats”
’nuff said
I agree. Poor Bill. He’s what you call your ‘patsy’.
I blame Son O’ Pierre for all of this.
Looks good on him, though.
I’m loving it.
Gee new tax rules launched in early 2019…..just in time for an election……
Thanks for all the columns! Great to read. Particularly your one line zingers on some comments
50 k a year is a joke
“….Trust me. If you want to be in politics, be perfect….”
___________________________________
What is about politics, regardless of political stripe, that continually attracts the imperfect?
Yet another epic failure for a rinse-and-repeat Canadian political party (can you say Adscam?) who tasked themselves with promises to do it right this time. What a waste of yet another federal election.
Who to vote for next time? Bubonic plague or Ebola virus. No wonder millennials are so disillusioned.
So we’re supposed to be placaded by a ‘drop’ in the corporate tax rate, but they’re still ‘coming for you’ if you dare retain more than $50,000 a year for investment purposes?
It’s like they’re desperately trying to implement walls so that the class structure you were born with is the class that you will remain. They don’t want anyone becoming ‘free’ like them.
Gonna enjoy the next election. Bring it you Liberal hoard. We’re ‘coming for you’.
Well, like it says in the song I’m going to be writing soon: You might be the King in your own jungle, but anywhere else, you’re just another monkey.
In spite of the professed desire to help “ordinary Canadians”, people like Morneau always assume that in some indefinable, but real way, they’re better than those aforementioned Canucks.
Thanks, but it’s time to get back into your own jungle, sir.
Yikes, the finance minister is indeed toast. The optics are terrible, and they might just wake up a good portion of the left leaning masses who don’t realize that the Liberals are actually the traditional party of the entrenched Canadian elites. Millennials should probably put down the iPhone and pick up a copy of one of Peter Newman’s tomes.
“You’re never unwatched, pardoned nor given the benefit of the doubt. Unless your name is Trump.”
Uh, what? What exactly do you mean?
Research by Pew (hardly right leaning) shows that the media has been far more hostile to the Trump administration:
https://www.recode.net/2017/10/2/16401216/president-donald-trump-news-negative-pew-research-obama-bush-clinton
Anyhow, you’d think the Canadian ‘progressives’ who excoriate the USA for electing a billionaire president would also be concerned that Canada is saddled with entitled trust-fund elites for their Prime Minister and Finance minister. But nope…
What is our beloved PM doing? Any impartial observer can see he is getting his (albeit firm) tail handed to him by Trump on the NAFTA negotiations. One leader specializes in business negotiations and the other specializes in philosophies–however noble and sophisticated they may be.
Using a sports metaphor, properly applying situational strategies gives a team an advantage over its opponent. In football when your offense team is on the goal line you bring in your ‘heavy’ package to ram the ball into the end zone. In these cases the attribute of power is required and defensive teams generally counters with their ‘heavy’ defensive package. This is not a situation to use fast slender players whose attributes are speed and agility.
Albeit Canada is a much smaller country than the U.S, come on already MR PM show us you know how to counter negotiate NAFTA. Show us your attributes. Many lives depend on it. A beautiful smile is not going to cut it.
NAFTA is falling apart as the Trump White House insists on America-first provisions, while Ottawa wants the trade deal to foster gender parity.”
What’s wrong with promoting gender equality to States and Mexico?
Did you know that Canadian women are only paid 65 cents for every male dollar earned, and that 1 in 2 women in Toronto are victims of sexual assault in their lifetimes?
We need Mexico to enforce legislation to criminalize street harassment and misogynistic speech online.
As a feminist and proud teacher from the Toronto District School Board, I will open a non-profit to end violence against women in Mexico by offering an anonymous hotline where Mexican women can complain on their local drug cartels which are the leading cause of violence against women.
I have taught my students that even when outside of Canada, they should confront and attack misogyny, even if it’s a Mexican drug cartel doing an execution of a female rival near the US (Arizona)-Mexico border.
We must stand up against misogyny against Canadian women in Canada. we MUST teach women in Toronto to be strong and to fight misogyny and sexism where ever they travel.
I agree it’s about time theOSFI stepped in and made changes; however in BC a drop of 20% in house prices won’t make any difference in affordability. Out of interest, We sold 8 years ago and wanted a small cottage. Nothing on the market so we rented. Now, as we still rent, our original home is listed for almost double. Even if changes mean they drop the price by 20% it will still be about 350 k more than we sold for. About the same for other homes in the lower mainland. Unless changes alter prices significantly, it’s not really going to alter affordability. It will be interesting to see if any changes in BC actually occur…..
And the budget will balance itself…That statement takes on more meaning as the years fade away. Thanks Justin.
(By keeping shares within a holding company, the minister avoids disclosing the securities to the parliamentary watchdog. Sounds kinda like retained earnings, doesn’t it?)
I’d feel pretty silly being one of those hardcore, tax the rich, supporting blog commenters right about now.
” And in the process, the prime minister looked like an out-of-touch millionaire with a finance minister who wants two sets of rules. One for rich guys. Like him. One for you.”
____________________________________________
No one in this country should be surprised by T2 and Bill’s actions…
…you get what you vote for.
The left is defined by it’s hypocrisy.
Hollywood leftys have tried to lecture America since Trump was elected.
But they are a bunch of misogynistic sexual predators, or enablers themselves.
The left continues to lecture the west world about how they must drastically reduce their energy consumption to save the planet.
All the while living hugely lavish lifestyles, with massive multiple homes, and travelling in their private jets to attend their cushy conferences with the best food, the best accommodation, the best of everything.
They disparage western Canadian oil, but are happy to import the same dirty stuff they pretend to despise, from some of the worst countries in the world in terms of women’s and human rights.
In what world did anyone expect a leftist nutcase like T2 to be any different.
silly me thinks Bill wants the sack..weird individual
“The bank cop’s B-20 bomber has just taken off and will be reducing real estate to controlled rubble over the few years.”
This one cracked me up the most today.
Who needs Netflix when you have Question Period?
http://www.cpac.ca/en/programs/question-period/episodes/52791572
“(By keeping shares within a holding company, the minister avoids disclosing the securities to the parliamentary watchdog. Sounds kinda like retained earnings, doesn’t it?)”
____________________________________________
Absolutely…
….I bet Bill is counting down the days until he returns to Bay Street….
Oh, one other thing,
Great blog post tonight.
You dont have to be perfect to be in politics, just dont do anything as stupid as this.
Paul Martin was loaded as well but I dont remember him every going after the little guy like that.
Bill you really are a putz – I sure hope and prey you get served agenerous and copious amount of karma – so long sucker
RATM
What is it like to work for Morneau Shepell? How about working weekends without compensation just to keep your job.
Optics sure do matter … however, was it ever any different?
“Trust me. If you want to be in politics, be perfect. You’re never unwatched, pardoned nor given the benefit of the doubt.”
That’s right. Just ask Nigel Wright.
I don’t think Morneau will be punted. The fact that Trudeau and other ministers are being pulled into to introduce or talk about the corporate tax changes is to show “unity”, and “togetherness”; to send the message that it isn’t just the nasty finance minister driving the tax fairness bus. If I’m wrong, what poor soul would be appointed? If the tax changes are delayed until the year of the election, good luck flogging them to the riled up small business voters.
I just wrote my MLA essentially pointing out it would be reckless for FICOM not to follow suit and mirror the OSFI guidelines. All the riskiest applicants would flock to the CUCPs putting their weak capital reserves and the provincial taxpayers on ropes. Plus they can pass the buck on to the Feds and not wear any of it themselves. Y’all should follow suit.
Great post. Keep exposing these bums.
Well, big bad Bill deserves to wear his arrogance like a hat. And the PM deserves to have been bloodied by it, too.
But that’s about as far as I will go in lamenting these ‘trust fund babies’ as some would call them.
I’d rather have my politicians swimming in their own wealth, than have them ripe to be bought by lobbyists and special interests, in exchange for legislative ‘considerations’.
I heard an anecdote once that Paul Martin Sr., a long serving Liberal minister in the Pearson and Trudeau’s government offered this advice to his son, former PM Paul Martin Jr., about going into politics: he said “before you do, make enough money that you’ll never be bought. Even better, make enough that you’ll never be tempted.”
Paul Martin Jr.’s personal fortune was estimated to be over $100 million when he was in politics. Of course, he placed it all in a blind trust.
The downside of Paul Sr.’s advice though, was that after all the dysfunction, the infighting, and the political land mines left for him by Jean Chretien, he decided politics just wasn’t worth it, and quit to spend his fortune instead.
#221 IHCTD9 on 10.18.17 at 11:57 am
#167 Karma on 10.18.17 at 2:36 am
“Wynne’s plan is to sell off 60% of Hydro One to the Private sector. She says because the sale will not allow any one entity to own more than 10%, and that the Province’s share of 40% will always be 4X what anyone else owns, that the Province then maintains “control” over the corporation.
Of course, she doesn’t mention that everyone gets to vote, and the votes cast by the Province will always be less than the combined total of everyone else.
So if the vote is to put rates up, do you think the 60% private ownership are going to be all up in arms arguing amongst themselves if this is a good idea? Yeah, right! 60% unanimous decision in favour of the private ownership – every time – watch and see. Rates will go up at every opportunity. We’re not going to see JACK for disagreement amongst the 60% on basically any issue.
When the sale of Hydro One is completed past 50% total – that is the end of effective public control for Ontario’s distribution system.”
Hydro One is regulated by the Ontario Energy Board, who allows for rates to be increased or not. So like any natural monopoly, private or publicly-owned, governments set rate increases.
I appreciate your sincere enthusiasm Garth, but boy, are you ever in your own little bubble!
In spite of the recent snafus, people are still generally very content with the CHANGE that Trudeau brought in. He will get a lot of forgiveness for any sins the next two years. (As long as doesn’t start wearing lipstick and mascara and pretending to be Harper!)
Here’s a more on-the-ground and balanced view about where the Liberals are today with Canadians:
https://www.thestar.com/opinion/commentary/2017/10/18/to-judge-the-trudeau-government-at-mid-term-look-at-the-big-picture.html
The Libs don’t have to be perfect – all they have to be is “not Harper”.
2019 is a lock.
Still 100% support the spirit of T2’s tax reforms but I do find Morneau’s current predicament truly astounding in this day and age.
Ironically, I would argue the Morneau’s unenviable state further bolsters the argument that we need tax reform for entitled entrepreneurs. You might say that Morneau’s legal tax avoidance and failure to disclose has been Villa-fied in a rather appropriate fashion by the press!
Keep in mind, if Morneau is replaced with a squeeky-clean turban-fitted Finance Minister after T2 apologizes (for failing to vet his former entitled-entrepreneur friend), the tax reform will occur in one form or another.
Most folks supporting these reforms are NOT accusing entrepreneurs of being tax cheats. A tax cheat implies tax evasion and this is clearly not the case, it’s legal tax avoidance.
The crux of the matter is whether this legal tax avoidance is equitable versus other taxpayers exposure. Equitable taxation is supposed to be a cornerstone of the federal government’s Tax Act.
Garth, a few weeks ago, you told us that “it was a done deal” and no point fighting.
Should the lesson be learned that if it is worth fighting for, we should? I spent at least an hour emailing the Finance department my situation and, instead of bitching and complaining, I actually made some suggestions on how to fix it.
My suggested fix was that 1million portfolios be exempt from the passive income tax… and it looks like that is exactly what they did.
“…as ministers are required”
Is that so? You know fake (spun) news that turns into wonderful clickbait on Facebook is what got Trump elected. Care to clarify your sound byte?
Sad day today. Feel like singing a song inspired by a Canadian hero.
Twelve SHYSTERS dropped out school in seventy-three
They should of went straight to Mill Haven maximum security
Twelve houses lined up across the street
Seems the SHYSTERS had a hard selling anything.(B-20)
The CREA told the people they had nothing to fear
Said, “The last thing they wanna do is not bid out of fear”
They mostly drove cars with short German names
About 11out of the dozen were hometown shames
Same message in the paper, buy now or never
They make you sick to your stomach whenever They are near
He’s thirty-eight years old, never finished Highschool
He’s thirty-eight years old. He still is a shyster.
RIP Gord Downie .
What is the value of the Golden Parachute for punted Finance Minister’s? Is there a bench deep enough in the House of Commons for Poor Bill to sleep at?
Pink Pumpkins being carved in North Vancouver.
These guys didn’t hang about much.
I only did a post on them roughly a week and a half ago when they took 90k of the price and yesterday they pulled the sickle back out for another 50k backyard haircut.
When I did the original post I told them not to let anyone know that there is a problem in Vancouver with real estate and not to Wreck it Ralph,well they are not done yet but they looked fairly Rekt to me…
M43BC
1791 Ralph Street, North Vancouver paid 1.52 ass 1.55
Jul 25:$1,689,000
Oct 6: $1,599,000
Change: – 90000.00 -5%
1791 Ralph Street, North Vancouver
Jul 25:$1,689,000
Oct 17: $1,549,000
Change: – 140000.00 -8%
https://www.zolo.ca/index.php?sarea=1791%20Ralph%20Street,%20North%20Vancouver&ptype_house=1&max_price=1400000&min_price=800000&filter=1
https://evaluebc.bcassessment.ca/Property.aspx?_oa=QTAwMDAyOEVDWQ==
P.s ….LP,are you now posting as Voice of experience? or just similar GAP Codes…
Do what I say, not what I do.
Nothing’s changed, he just got caught.
Let’s talk about the Clintons enriched plutonium deals with the Russians for a bit..
AKA pay and play.
Re Moroneau…
OPTION 1:
Still maintain that T2 has rolled the dice with Moroneau to the point he will still get a soft landing..as arrogance, indifference and condescendence is a Trudeau hallmark gene.
OPTION 2
….otherwise T2 is exposed as a nihilistic and nepotistic fraud who should gracefully step down as has zero creds as “leader”.
…..Moroneau high profile and subsequent “Full Monty” ass whoopin could have been avoided if T2 had his cabinet independently scrutinized as opposed to the ….baarrrfff “honour system” and shoving star Liberal candidates down our throats..
This implies that rest of Trudeaus cabinet and MPs’s have not been subjected to anything more than shallow scrutiny…..thus what skeletons hang in THEIR closets?
How much worse can it get..is old T1 rolling in his grave?..should Canadians wake up or simply “ass-u-me” the position ?!?
Whenever Garth makes a post about Bill, I yawn. Give us what we want! Real estate crash news!
THIRD PARAGRAPH: All of this happened while Ottawa targeted any small incorporation that earns more than $50,000 a year on retained earnings.
I thought that it was $50K in passive income. (which would mean $1M (at 5%) in cumulative retained earnings.
I have been following this closely and I see many news reports and comments which seem to be loose on the difference between retained earnings and the resulting passive income. Clarification welcome
#taxfairness IS #firebillmorneau
I feel so sorry Bill M. is being villafried.
Just a sad day for me and the family. 3 years ago today we lost a beloved nephew, Today we lose Gord.
It’s stuff like this on the earbuds that make you wanna live another day in a shitty world.
RIP Gord, you were one of the best made me proud to be Canadian. Click on the link on my name and sing along.
Bourbon blues on the street, loose and complete
Under skies all smoky blue-green
I can’t forsake a Dixie dead-shake
So we danced the sidewalk clean
My memory is muddy. what’s this river that I’m in?
New Orleans is sinking man, and I don’t wanna swim
Colonel Tom, what’s wrong? what’s going on?
You can’t tie yourself up for a deal
He said “hey north you’re south shut your big mouth,
You gotta do what you feel is real”
Ain’t got no picture postcards, ain’t got no souvenirs
My baby, she don’t know me when I’m thinking ’bout those years
Pale as a light bulb hanging on a wire
Sucking up to someone just to stoke the fire
Picking out the highlights of the scenery
Saw a little cloud that looked a little like me
I had my hands in the river
My feet back up on the banks
Looked up to the Lord above
And said “hey man thanks”
Sometimes I feel so good I gotta scream
She said Gordie baby I know exactly what you mean
She said, she said, I swear to God she said…
My memory is muddy. what’s this river that I’m in?
New Orleans is sinking man and I don’t wanna swim
That is exactly what Garth meant. The key word is “ON” retained earnings. So basically the earning on it .. . same as 5% ON $1M (retained earning).
He also made it clear that retained earnings from before are grandfathered and exempt though I have no clue how they are going to monitor this. What a nightmare from tax point of view.
———————
#46 Confused on 10.18.17 at 8:11 pm
THIRD PARAGRAPH: All of this happened while Ottawa targeted any small incorporation that earns more than $50,000 a year on retained earnings.
I thought that it was $50K in passive income. (which would mean $1M (at 5%) in cumulative retained earnings.
#35 A Dollar is a Dollar is a Dollar on 10.18.17 at 7:43 pm
I appreciate your sincere enthusiasm Garth, but boy, are you ever in your own little bubble!
In spite of the recent snafus, people are still generally very content with the CHANGE that Trudeau brought in. He will get a lot of forgiveness for any sins the next two years. (As long as doesn’t start wearing lipstick and mascara and pretending to be Harper!)
Here’s a more on-the-ground and balanced view about where the Liberals are today with Canadians:
https://www.thestar.com/opinion/commentary/2017/10/18/to-judge-the-trudeau-government-at-mid-term-look-at-the-big-picture.html
———-
So the best thing about Trudeau is gender fairness and putting equal amount of women in the cabinet? OK!
He has added huge amounts of debt, increased taxes, made us less competitive (carbon pricing), messing with Trump who himself is a manchild re: NATFA, and failed to make Energy East go despite buying social licenses.
Not many are as critical of him as I am, therefore there is little doubt that he will get another term.
The last post of the night, Having some Bourbon and listing to Gord, here is a link to his most Canada Rocks Songs. In memory of departed loved ones.
For earbud heaven.
http://www.theloop.ca/the-19-most-canadian-tragically-hip-lyrics/
Garth: Do you think the guy in the video on BNN is saying the correct thing?
http://www.bnn.ca/morneau-sets-threshold-on-passive-investment-income-1.887549
As far as I can gather he is saying that the first $50K of investment income earned on retained earnings in the corporation is taxed at the lower business tax rate (14.5% in ON as of Jan 1, 2018).
This is not even happening now. Investment income is already taxed at the highest brackets from $1 currently in the corporation.
Of course more colour on this will come once they prepare the draft legislation as the devil may be in the details.
Also – any clue how they will want us to keep track of grandfathered retained earnings and the retained earnings after the changes are implemented.
May have two brokerage accounts ?
Another day, another stress test, with more stress tests to come, as CMHC urges everyone to perform their own:
[…]the tests show the CMHC is well equipped to weather any storms that may be on the horizon, but she urgers (sic) individuals to make sure they can say the same.
“They need to think about how extreme events in their personal lives could impact their personal balance sheets.”
http://www.cbc.ca/news/business/cmhc-stress-test-1.4360602
LOCK HIM UP!
#46THIRD PARAGRAPH: All of this happened while Ottawa targeted any small incorporation that earns more than $50,000 a year on retained earnings.
I thought that it was $50K in passive income. (which would mean $1M (at 5%) in cumulative retained earnings.
I have been following this closely and I see many news reports and comments which seem to be loose on the difference between retained earnings and the resulting passive income. Clarification welcome
—————————————————————–
Your definition is as I understand it – $50K represents income earned from passive investments, so a 5% return on $1M annually. Income from current passive investments will be grandfathered and treated using the current tax rules.
I wonder if that $50K limit will be indexed to inflation?
Lying, corrupt, hypocrite. Unbelievable.
Where are all the Morneau/fairness/entrepreneurs are cheats/I make over $100K and gladly pay my fair share/its not that big a deal/Garth using ad hominem attacks/Libs are great, Cons evil supporters from last month at??
Please share with the rest of us how we are misinterpreting what is going on??
#19 AB Boxster on 10.18.17 at 7:23 pm
“….The left is defined by it’s hypocrisy…..”
_____________________________
News flash, the Canadian left doesn’t have a monopoly on hypocrisy, just a different flavour. Just ask any Canadian who punted the Haropcrites last election.
Neither the PC’s nor Liberals have demonstrated any semblance of trustworthiness in recent memory. And no that is not a plug for the clueless and irrelevant NDP.
“while you’re terrorizing hair salon owners”
Where does this crap come from? What (legitimate) hair salon owner has $750k retained inside their corp earning 7% in passive income? And even then, their (corporation’s) tax bill barely budges with the proposed regulations. They end up getting taxed at 73% on $2500….or, most likely, end up bonusing/dividend-ing the extra cash out so that they don’t break the $50k limit and pay personal marginal rate instead of 73%.
If you are one of those hair salon owners who has that kind of capital inside your corporation…..you can afford the tax hit – the spirit of corps were never meant for passive income, they were meant for business activities.
Garth, when you were in politics, were you perfect? Did you get kicked to the curb for “political” reasons and not for incompetence? Remember what that was like?
It’s easy for everybody to say “you’re a hypocrite” when looking at politicians like Morneau, especially people who don’t really have any idea what they’re talking about, but man, Garth, you really are.
Real estate isn’t going anywhere, there will be a small pause and then the lust will fire up again. Ppl can’t help themselves. They will dump all savings into a house just to get it. Tons of people waiting on the sidelines as well. Look how many people bought into the condo/townhouse market in FOMO. I personally will never understand this “investment” of a house that costs u money to own and is only getting older by the day. Good luck to all that only see one way!
If interest rates rise look for more tax increases to pay the interest on our 1.8 trillion dollar debt.We have no choice because the new norm for our country is just bigger deficits every year.A cashless society will be imposed so no under the table transactions can exist.You think the high cost of living is bad now,wait a couple of years.We need agoverment with contrled spending and end the welfare state.
Looking forward to the failure of NAFTA.
Like almost anything else….Trump never wanted it to succeed…..that has been so obvious….all is for the “show” by this “politician”….who acts everyday like the election is still on….
Will put more stress between ” Huffying Puffing Trump ” and the Congress.
Would be very satisfying to see Congress representatives elected in different states stand up to Trump and take over the Country…very much like Toronto City Council took over poor Mayor Ford.
Real Estate Moron Trump against the lower level elected representatives in the Congress….will be great fireworks.
Time for Trudeau to show Canadians will not put up with a bully like Trump …trade with European, Mexico and many more…just fine…let Congress finally rise to the occasion.
Time for American “We the People “….to take over the Whitehouse.
@46 Confused
…I thought that it was $50K in passive income. (which would mean $1M (at 5%) in cumulative retained earnings…
+++++++++++++
Excellent question, I have also seen multiple intepretations of the $50K rule today.
Speaking of retaining earnings investments, can anyone recommend tax-efficient ETFs(s) and/or stocks?
Or what would be other alternatives to efficiently invest retained earning?
Thanks a lot in advance.
Meanwhile, this self-inflicted kick in the stones could not have come at a worse time for the T2 gang. NAFTA is falling apart as the Trump White House insists on America-first provisions, while Ottawa wants the trade deal to foster gender parity. Seriously. The bank cop’s B-20 bomber has just taken off and will be reducing real estate to controlled rubble over the few years. The US central bank is 80% certain to raise interest rates again by the end of the year, cranking long-term Canadian mortgage rates. Household debt is at another all-time high and 12,000 people just went overboard at Sears Canada. The Canadian economy has been growing well, but employment and wages are stuck. The federal deficit is on track to be 300% larger than we were assured. And the minister of finance is being proven to be a bigger loopholer than the family doctors, dentists and veterinarians he’s hounding.
“while Ottawa wants the trade deal to foster gender parity” which is another thing Justin Trudeau pretends to care about. As Andrew Coyne wrote there is a falseness and hollowness about Justin Trudeau:
http://nationalpost.com/opinion/andrew-coyne-small-business-tax-reform-reveals-trudeau-morneau-as-middle-class-phonies
Bill Morneau is just hapless. I see a man experienced in finance, at the top of his game who was drawn to politics. Like a moth to the flame.
Pink Pumpkins being carved in Vancouver.
These guys pulled this one off of the market for a while and thought it was better to put this block of land back on the market when it is probably under two foot of water.
I wonder if for 5.6 million they will throw in a kayak.
The realtor will probably state that it is now a waterfront property.
Not a big Abba fan but they probably summed this one up best.
Waterloo – Couldn’t escape if I wanted to
Waterloo – Knowing my fate is to be with you
Waterloo – Finally facing my Waterloo…
M43BC
1650 Waterloo Street, Vancouver paid 5.39 ass4.74
Jan 12:$5,900,000
Jun 20: $5,698,000
Change: – 202000.00 -3%
1650 Waterloo St,Vancouver.
Jun 20:$5,698,000
Oct 17: $5,600,000
Change: – 98000.00 -2%
https://www.zolo.ca/vancouver-real-estate/1650-waterloo-street
https://evaluebc.bcassessment.ca/Property.aspx?_oa=QTAwMDAwMDVEWA==
#35 A Dollar is a Dollar is a Dollar on 10.18.17 at 7:43 pm
I appreciate your sincere enthusiasm Garth, but boy, are you ever in your own little bubble!
In spite of the recent snafus, people are still generally very content with the CHANGE that Trudeau brought in. He will get a lot of forgiveness for any sins the next two years. (As long as doesn’t start wearing lipstick and mascara and pretending to be Harper!)
Here’s a more on-the-ground and balanced view about where the Liberals are today with Canadians:
https://www.thestar.com/opinion/commentary/2017/10/18/to-judge-the-trudeau-government-at-mid-term-look-at-the-big-picture.html
The Libs don’t have to be perfect – all they have to be is “not Harper”.
2019 is a lock.
————-
What was a top problem with Harper? That he was a bully. Attempting to ram bone headed tax changes down the throats of Canadians is not only stupid, but bull headed, hence bullying.
I said it a couple weeks ago after some consultation with my wife about the impact to the medical profession that these proposed changes would have…they would have crashed the system. Our medical system was in trouble decades ago, they would be putting a knife in it by trying to screw over the doctors.
Gender parity? What in the world is wrong with our PM? You are trying to negotiate a trade deal, not attending a human rights conference!!!!!!!!!!
I have tried to have an open mind about Mr. Trudeau’s position as PM, but I can’t believe how much he is screwing things up.
Garth, a lot of being so amazing is timing. This blog is timely, and amazing in its scriptive description of the criminals and tyranny of the Current Canadian governing system.
You amazed me tonight with your brevity.
Morneaue chapel handles Trudeaues “blind” trust bull sh.. Portfolio. My next goal is to out them for everything else they are hiding from us., I see red, and I see a long term retribution for the shameful , entitled, stupid, double standard, bunch of criminals they are.
M
Victoria Real Estate Update: Of course, the after-party was enjoyed by those who had waited for house prices to fall. I wouldn’t say enjoyed. I see the after-party littered with political turmoil – people desperate for power who have no thought for good government.
Sometimes the inevitable major price correction (the bust) does not coincide with rising mortgage rates.
the major example is the United States which lowered its interest rates from 5% to 0% and Canada followed suit. The lower interest rates in Canada forestalled a major price correction but now the jig is up.
Toronto is for Winners: As a feminist and proud teacher from the Toronto District School Board, I will open a non-profit to end violence against women in Mexico
you’re kidding right?
https://www.theguardian.com/world/2016/jan/13/mexico-mayor-gisela-mota-murdered-mafia?CMP=fb_us
Gisela Mota – I pray for half her courage.
What do the stars look like tonight in Bobcaygeon, I see a new one that wasn’t there before? It’s dim and not trying to make the other stars around it feel worthless. It supernova with a humble demeanor. It just wants to shine a message of unity and love.
I’m sure that star knew what Bourbon and a night in New Orleans felt like, but its home was the north. The North the land of best people in the world, that star knew it. It never set out to out-alpha anyone, it just wanted to write poems from the heart and attach a few cords to it. That star did. The Star had good friend here in Canada, the Prime Minister who didn’t feel like a post-nationalist today. Today T2 was a Canadian for change. I think his tears were sincere as were mine. Hopefully, our prime minister looks up to the star and says, Yeah Canada is worth saving. Sorry, George Soros but we have something good here. Take a hike.
Bah on 10.18.17 at 8:09 pm
Whenever Garth makes a post about Bill, I yawn. Give us what we want! Real estate crash news!
================
Yeah, we’re hungry for some hot steamy Schadenfreude.
The bank cop’s B-20 bomber has just taken off and will be reducing real estate to controlled rubble over the few years.
———————————————————
Can you be more precise than– over the few years?
“There is NO way the CMHC can survive a 30% real estate crash. “
Agreed. I was watching the CMHC’s “Chief Risk Officer” on TV tonight claiming that the CMHC’s maximum losses would be a mere $217M. Just couldn’t stop laughing.
#14 appear to be male and writes in an identical style to “I am not Poloz”. Anybody else notice this?”.
You’ve made it clear you really despise the women of Toronto and will attempt to recruit others from this blog in your quest. Have you considered therapy?
Re: #14 “I have taught my students that even when outside of Canada, they should confront and attack misogyny, even if it’s a Mexican drug cartel doing an execution of a female rival near the US (Arizona)-Mexico border.” Hahahaha. Would like to see you do that..
#39 Happy Housing Crash Everyone! on 10.18.17 at 7:53 pm
A sad day indeed.
Even sadder when you associate Gord with your monotonous schtick
Re: #39 Happy Housing Crash. HHCE I enjoy your tirades. This one is gold.
#39 Happy Housing Crash Everyone!
Hilarious!
RIP Gord Downie. :)
Re::
“25 not 1st on 10.18.17 at 7:25 pm
You dont have to be perfect to be in politics, just dont do anything as stupid as this.
Paul Martin was loaded as well but I dont remember him every going after the little guy like that.”
—————————-
What?? The little guy. Entrepreneurs, small business, or AKA the Spine , the Backbone of the Nation known as Canada.
But I agree with you, it is wrong on pretty much every level what Turdeau and Morneaue are putting effort into doing. Yet they both run money cleansing schemes.
So much better than those scum, who also happen to employ 75% of the working Canadians.
Thank You Gaeth.. Expose these Uber Modern Fascists.
Didn’t Morneau commit a crime in doing what he is doing?
M
#42 For those about to flop… on 10.18.17 at 8:00 pm
*******************************
Yep, in this instance.
F70ON
#14 – Whiner – playing hard a loose with facts lady…show me where you get your cooked up numbers.
IMO … most of the people here still don’t get it. There is NOTHING wrong to own a house for your family if you can afford and will still bring you to a happy retirement because you have other means. There is nothing wrong to rent if you want to be mobile and have liquidity on hand
Everybody is different have different circumstances and so on
No need to wish for a house crush.. no need to wish for a market crush (Even though I secretly wish in 2009 I had more $$$ to buy BMO in the 20’s … and so many others)
Garth is saying make sure you take care of your finances and be well. Invest (RE, market, bonds, stock, your own CO, VC … whatever), work hard , and learn all the time and so on
No need to wish for a house crush.. If you did not pull the trigger 10 years ago you will not pull it now.. you will wait until opportunity is gone .. Same as Garth is is telling you to stay the course
There are risk takers with a plan (right or wrong) and there are people with no clue and there are savers and so on
#14 Toronto shops at Winners and incubates Losers
What page of “Maxim” do you advertise on?
“if you earn money in your corp, pay the taxes on it and invest the remainder, you can grow it by up to $50,000 a year, using the funds later for payroll, expansion, to retire on or finance a mat leave. Of course if the cash passes into your hands it will be taxed again, but not at 73%. Above fifty grand, you’re SOL.”
How can it grow…in the sense that if you earn 50,000 in dividends you are ok…over that taxed to the ears. If you earn 40,000 in dividends and 10,000 in capital gains, ok…..or does that mean the retained earnings can only grow up to 50,000 a year or is heavily taxed, meaning if you add anything more than 50,000 to your retained earnings in a year it is taxed, I hope that is not the case, that isn’t a lot per year to save for equipment….
A couple of things, if I might.
I spent an hour doing some research last night on the
Bureau du surintendant des institutions financières. I wanted to learn about the new mortgage “rules”, i.e. the stress test. I was curious about enforcement as I have not seen any mention of enforcement and penalties. I tired of the research and ask that those with more knowledge offer some advice.
Anyhow, these truly are guidelines. There is a complete absence of mandatory language (“shall”, “must” etc.) and it is full of “should”, “plan” “policies” etc. There is little by way of prescriptive measures.
I’m thinking that the banks can do whatever they want and risk a stern finger wagging by the Super. Makes sense. There is not a power in the country sufficient to actually rule or govern our chartered bank.
My second point makes this already long comment longer than I hoped. Suffice it to say, I agree with Don Braid’s opinion on the Calgary municipal election (link below) that we now have a centrist, progressive voting public in Cowtown. The fear that Bill Smith, former PC party president, lawyer and empty suit would simply do the bidding of Jason Kenney’s UCP, the big money support of Smith and his refusal to release his donor list and the bully boy political interference of the Flames owners and Gary Bettman in their quest for welfare for billionaires. Nobody mastered corporate welfare (on losing ventures) better than the PCs during its 44 year reign.
Cowtown is no longer the solid blue of the first 50 years of my life and the prospect of a second NDP government may be stronger than we think.
http://calgaryherald.com/news/politics/braid-hard-election-lessons-for-the-ucp-and-the-flames
Pink Pumpkins being carved in Coquitlam.
Good to see some familiar faces tonight ,lets have a look at my old buddy Sprice Avenue and see what he’s up to.
Took 100k off roughly a month ago that didn’t do the trick and now another 100k off hopefully will get the deal done before the neighbors kids come around for their treats.
Hopefully after a false start the Sprice is right…
M43BC
1669 Sprice Avenue, Coquitlam paid 1.45 ass 1.30 March 2016
Aug 29:$1,699,000
Sep 21: $1,599,000
Change: – 100000.00 -6%
1669 Sprice Ave.Coquitlam
Aug 29:$1,699,000
Oct 17: $1,499,000
Change: – 200000.00 -12%
https://www.zolo.ca/index.php?sarea=1669%20Sprice%20Avenue,%20Coquitlam&ptype_house=1&max_price=1300000&min_price=800000&filter=1
https://evaluebc.bcassessment.ca/Property.aspx?_oa=QTAwMDAzWE0xNg==
Stunning selfies of MORNEAU you keep gettin Garth.
Are you spying on him through his laptop??
Almost every adult I talk to about politics east/ west coasts says the same thing ( unsolicited ) “When Trudeau starts speaking I want to turn off the tv/radio, can’t stand him” Add in gender politics vs merit based, deficits, and the irritation just festers.
Minority government 2019, Cons win.
Of course if you are 15 yrs old PM Selfie is cute and smells nice, but nobody under 30 votes anyway.
Where heaven is.
https://youtu.be/o6QDjDPRF5c
#48 Garthjr on 10.18.17 at 8:47 pm
Real estate isn’t going anywhere, there will be a small pause and then the lust will fire up again. Ppl can’t help themselves.
————————————————
Sorry, but RE is toast! You mention people will dump their savings to buy, yeah right, what savings!
It’s all debt, majority has no cash. Rising interest rates and B20 will kill easy credit. The end of the credit bubble will be the end of the RE bubble.
It truly is a house of cards, all built on shaky credit foundations. Add in HELOC, speculators and just plain dumb buyers and you will get a beautiful rearangered stack.
Party is over, music has stopped. It was already written on the wall a long time before this day…
And of course the Fake News does not mention that our friend Bill Morneau went to BILDERBERG a few weeks before the tax hikes on small businesses.
Nancy Vieira,last night you gave the impression you cared ,but you never got back to me on my invitation to post real time results.
These ones have 3 weeks of crust on them, but I never did find out what happened to them.
Honest realtor.
Old Ron the realtor
Paul
Devils Advocate etc etc
All too busy
You know Meredith would want you to…
M43BC
9579 Neill Place,Richmond
875 Greene St,Coquitlam
16715 84th Ave Surrey
4948 Pinetree Cresent,West Vancouver
4368 Cambridge St Burnaby
4855 Lanark St Vancouver
2706 1077 Cordova St Vancouver
@#14 Toronto gender parity supergrrryl
Please spare your students( and us) your slanted onesided misandrist diatribe.
Go on sabbatical.
Go to Mexico.
Show the women of Mexico how you will force the drug cartels to accept gender parity.
Report back.
CMHC is stress testing for a 30% housing price drop nationally in case of : a major earthquake, unemployment at 12% or another oil shock.
All highly unlikely.
http://www.cbc.ca/news/business/cmhc-stress-test-1.4360602
What effect should the drop in house prices and the new mortgages stress test have on house rental costs?
people , eastern bloc communist governments didn’t do retroactive legislation like morneau did on oct 3 /16
you don’t have a democratic government
#14 Toronto is for WINNERS not LOSERS and WHINERS
You forgot to add hashtag “me too”
Lol
The adage “those who can’t do, teach” . Yikes, scary that these are the teachers. Online education replacing human teachers cannot come soon enough and get rid of these ignorant feminists. Waste of space.
https://youtu.be/QE2joQsWXJg
“Ahead By A Century”
First thing we’d climb a tree and maybe then we’d talk
Or sit silently and listen to our thoughts
With illusions of someday casting a golden light
No dress rehearsal, this is our life
And that’s where the hornet stung me
And I had a feverish dream
With revenge and doubt
Tonight we smoke them out
You are ahead by a century (this is our life)
You are ahead by a century (this is our life)
You are ahead by a century
Stare in the morning shroud and then the day began
I tilted your cloud, you tilted my hand
Rain falls in real time and rain fell through the night
No dress rehearsal, this is our life
But that’s when the hornet stung me
And I had a serious dream
With revenge and doubt
Tonight we smoke them out
You are ahead by a century (this is our life)
You are ahead by a century (this is our life)
You are ahead by a century
You are ahead by a century (this is our life)
You are ahead by a century (this is our life)
You are ahead by a century
And disappointing you is getting me down
Unhappy Morneau hoping he’s soon to be toast?
https://ca.reuters.com/article/topNews/idCAKBN1CN363-OCATP
T2, Moroneau and Communism…
It’s not “Trust us”…..its “WE got trusts”…
Typical of the communist model is to wipe out the middle class via internal bickering and demonization as a means to de -odorize the smell of old money.
The aim is to create a 99.9 % underclass, ruled by the other .01 %
99.9 % of the voting public has no clue about T2 and Moroneau background as spoiled rich boys …with no skin in the game…they simply swallow the class warfare kool-aid.
One wonders why people like Moroneau left the safer confines of the private sector to run for office…the only rational reason is boredom..ego trips and an opportunity to rub our noses in our “Lot in life” of not choosing our parents as well as they did.
F. Scott Fitzgerald had a saying about the rich…GOOGLE it.
I got home from work and after reading tonight’s post by the boss of this blog ,I went back and read yesterday’s comments to see if anyone had tried to swap information with me.
I came across a post where a ding-a-ling chirped me and basically told me I was wasting my time.
I thought why do these guys get all shitty with me and then offer up no new information.
Then I had an epiphany.
It must suck to see an immigrant come into your country and care about the country and its citizens more than you do…
M43BC
re: gord downey, i don’t believe that story
http://fakeologist.com/blog/2017/10/18/tragically-fake/
It’s this the one I ment from my heart.
https://youtu.be/vt1Pwfnh5pc
Barbados Paul was at least as big a tax avoider as Bahama Bill, and he went on to become PM.
https://www.theglobeandmail.com/opinion/ethics-paul-martin-and-the-circle-of-csl/article1332107/
https://www.thestar.com/news/world/2016/06/18/canada-willingly-makes-tax-deals-with-tax-havens.html
“Basically, in the 1980s the interest in Barbados was to create a channel for Canadian corporations to get access to the offshore network on a legal basis. You create a subsidiary in Barbados. You send to that subsidiary some assets and from there on you may transfer the assets, once more, to another tax haven, to another subsidiary where Canada has no link,”
He didn’t however do the whole #taxfairness thing, as he probably thought things were already pretty fair .
It is sad to hear the happy housing crash guy. I know three honest realtors one made a comment on yesterdays post and I have known her half my life. Not all are out to gouge. I spoke to one of them today about whether the taxes and all the new rules have slowed things down. He said mostly no but the empty homes tax is having some affect as he has a few clients who are having to sell as they cannot afford the one percent tax. Otherwise yes SFH are down but he still does plenty of condos to people who have sold their homes as well as offshore money. Also he is seeing plenty of retired buyers from Ontario who sold and are seeking milder weather. So those who expect Vancouver to suddenly revert to ten years ago prices are going to be waiting awhile. Yes it will drop but not to levels the average family can afford. Meanwhile he told me not to buy as it is not worth the incredible debt we would be in. Vancouver will continue to be for the rich only from here on out.
#106 Kat on 10.18.17 at 10:25 pm
I know three honest realtors
——–
No such animal… And Happy housing crash guy rocks!
For those about to flop
Go to https://www.propertyinsight.ca
It tells the price histories of properties with some going back to the 90s
Lefties I got a job as a volunteer
Old white basterds no salary for you.
Your mine antifa
https://youtu.be/n4RjJKxsamQ
What ever happened to the “Mayor of Milton” ?
#102 For those about to flop… on 10.18.17 at 10:12 pm
Don’t let them get you down Floppy! It’s nice to see people on this forum try to exchange meaningful information, instead of just bashing each other’s brains out.
But what are pink snow, pollen and pumpkins anyway?
Thanks to Smoking Man for #71. Made my night.
“It’s A Good Life If You Don’t Weaken”
When the colour of the night
And all the smoke for one life
Gives way to shaky movements
Improvisational skills
A forest of whispering speakers
Let’s swear that we will
Get with the times
In a current health to stay
Let’s get friendship right
Get life day-to-day
In the forget-yer-skates dream
Full of countervailing woes
Its diverse-as-ever seen
Proceeding on a need-to-know
In a face so full of meaning
As to almost make it glow
For a good life we just might have to weaken
And find somewhere to go
Go somewhere we’re needed
Find somewhere to grow
Grow somewhere we’re needed
‘Cause in the forget-yer-skates dream
You can hang your head in woe
And this diverse-as-ever scene
Know which way to go
Re:
#33 Smartalox on 10.18.17 at 7:42 pm
Well, big bad Bill deserves to wear his arrogance like a hat. And the PM deserves to have been bloodied by it, too.
But that’s about as far as I will go in lamenting these ‘trust fund babies’ as some would call them.
I’d rather have my politicians swimming in their own wealth, than have them ripe to be bought by lobbyists and special interests, in exchange for legislative ‘considerations’.
I heard an anecdote once that Paul Martin Sr., a long serving Liberal minister in the Pearson and Trudeau’s government offered this advice to his son, former PM Paul Martin Jr., about going into politics: he said “before you do, make enough money that you’ll never be bought. Even better, make enough that you’ll never be tempted.”
Paul Martin Jr.’s personal fortune was estimated to be over $100 million when he was in politics. Of course, he placed it all in a blind trust.
You do know that Paul Jr. was Paul Desmarais Sr.’s boy before Des Sr. pretty well gave him Canada Steamship Lines.
You think he didn’t have considerations for Sr. Desmarais when he was in politics.
Here’s a refresher from my post y’day:
http://www.orwelltoday.com/cocainecanadapm.shtml
http://chinawatchcanada.blogspot.ca/2014/03/paul-desmarais-web-of-influence-over.html
The Desmarais family has it’s hands all over Canadian politicians.
https://en.wikipedia.org/wiki/Paul_Desmarais
Hope I didn’t burst your Martin bubble….
#86 WUL
the prospect of a second (Alberta) NDP government may be stronger than we think.
_____________________________________________
Vote NDP. Orange is the happiest colour.
WUL
On your second point. Maybe Harper was peak politico and Trudeau is a dead cat bounce on the way to Federal NDP/Green government riding on the wave of social diversity and sexy new age progressiveness. New voters replacing the old on a daily basis. If Calgary swung so can the rest of the country. Some effective rebranding and no formal federal baggage could appeal to changing sentiment.
Trudeau is losing his appeal.
#63 Danny
“Time for American “We the People “….to take over the Whitehouse.”
We did. You’ll understand after another few years of T2 and his liberal followers.
#95 -So says you. Sounds like some people [skin in the game] don’t want home prices to decrease.
Lead Paint 41 pm
#102 For those about to flop… on 10.18.17 at 10:12 pm
Don’t let them get you down Floppy! It’s nice to see people on this forum try to exchange meaningful information, instead of just bashing each other’s brains out.
But what are pink snow, pollen and pumpkins anyway?
/////////////////
Hey Lead Paint,at the moment I am dealing with Pink Pumpkins with it being the fall season.
A Pink Pumpkin is a house that is back on the market trying to be sold for less than 10% than previously bought.
Meaning that it is likely that the best they can do is to roughly break even or possibly take a loss.
Once it is confirmed in the system I put it back up as CONFIRMED PINK SNOW as Pink Snow was the original tag I started with in January.
My biggest Pumpkin at the moment is 15.5m but they would have gleaned a little ray of hope when one of their neighbors sold the other day for 13.something.
The biggest sale I have seen in a while, but it is still mostly downhill for detached since about May 2016.
Thanks for the encouragement and it is not lost on me that my critics read every post because they want to know what’s going on in Vancouver real estate ,where there is a dearth of information.
The fact that it comes from a simpleton from Tasmania is absurd but it only takes time and a big of ticker…
M43BC
Who said I’m retired? I’m a Gen Xer renter-by-choice with a visceral distrust of the RE cartel and their filthy minions. Why do you assume that my profession is “scummy”?
A Dollar is a Dollar is a Dollar on 10.18.17 at 7:43 pm
Are you for real?
First off, Harper is not running, so the idiots that voted for these idiots can’t use that angle anymore.
(It’s important to remember The Star is unapologetically liberal leaning, and the majority of their political articles often amount to propaganda.)
But anyways..
The author states the Liberals will maintain support because voted for “change” and the Liberals are changing things…so it must be a positive. How simplistic/lame. The “change” that people wanted in the form of electoral reform never occurred. Also The promised deficit infrastructure spending does not seem to be happening either.
Instead it looks like The change we have had is an even higher deficit than projected but, instead of infrastructure, the money was spent on frivolous/useless “causes”. Watch T2’s cringeworthy pathetic UN speech as an example.
Lastly The economic growth we apparently have experienced (if you believe it) seems to be more related to the fading of the oil shock then any of the Liberals dumb policies.
All they do well is pander to the lowest common denominator with carrot sticks like the child tax benefit. They do that well.
At least now these clowns are showing their true colours. Most of us knew it would happen eventually but the tax attack on business owners was a hilarious failure and now hopefully their dumb supporters can see how two faced they are…like all socialist regimes.
MF
Putting a rookie MP with a background in the Bay Street private equity planet in the Finance portfolio looks pretty maladroit this week. Looks like Bill might be headed for some junior ministry of amateur sports or an even worse form of political oblivion.
Where did that 30% figure come from?? For those who remember the 2008 California housing bubble got blown up by about 4% of the sub prime market. Every epidemic starts with only a few index patients. Tightening mortgage underwriting standards doesn’t look like much of a corrective these days.
this is a new case on Flop’s sheet
3443 E 51St Ave, Vancouver paid 1.945 June 2016 ass 1.862
https://www.zolo.ca/vancouver-real-estate/3443-e-51st-avenue
https://evaluebc.bcassessment.ca/Property.aspx?_oa=QTAwMDAwM0Y2Qw==
Ms X at 10:38 pm
For those about to flop
Go to https://www.propertyinsight.ca
It tells the price histories of properties with some going back to the 90s
//////////////////////
Hey Ms X ,I remember this site from awhile ago.
I just typed in 3 recent sales and none of them came up.
This is part of the problem I am trying to help people with.
I am already dealing with a 3/4 month lag from b.c assessment and so when I try to do real time reports to show people what is happening I have to find a realtor on here to dance with.
I will try a few more addresses to try and work out what the lag is and I thank you for your reminder about this site.
M43BC
#98 Garth
#14 Toronto is for WINNERS not LOSERS and WHINERS
You forgot to add hashtag “me too”
Lol
The adage “those who can’t do, teach” . Yikes, scary that these are the teachers. Online education replacing human teachers cannot come soon enough and get rid of these ignorant feminists. Waste of space.
***********************
Challenge for you Garth,
Substitute ‘immigrants’ where ‘feminists’ are in the above posters’ quote and it would be deleted for being racist.
Why is it that this submission is deemed acceptable Garth?
Inquiring minds want to know…
Can you not respect women and yet dis feminists? ~ Garth
To Hollywood
https://youtu.be/Bk7RVw3I8eg
#110 Paulo on 10.18.17 at 10:40 pm
ahh..The mayor of Milton
The only troll I really like.
Happy aluminum siding day.
MF
@#62 Rexx Rock
Taxes and user fees are already high and increasing. What we need to do is enact laws to make our governments more accountable. Fix the root cause. As for interests rates Canada is not isolated – the pressure will come. Different times ahead….The Reckoning. ‘Live within your means’ is about to be a movie coming to a theater near you – featuring our guest star downward momentum.
Bye the way, it is pouring buckets of Pink rain in Vancouver and Victoria at the moment. Just thought I would state the obvious like our newsreaders. It’s like some new phenomenon. I guess summer weather was the new normal.
Pink sh$t hitting the fan!
#89 rainclouds on 10.18.17 at 9:49 pm
Yup. My boomer parents were huge T1 fans. I heard all about “watch me” and “fuddle duddle” as a kid.
Even they can’t stand the look of him (change the channel when he is on TV, switch the page if he is in a newspaper article etc.).
You will find that very few people over the age of 25 will admit to voting Liberal out of embarrassment. Only his core supporters (pot head/lazy/underachieving and frustrated).
MF
Weekend guest suggestion: Marc Cohodes
Independent short-seller Marc Cohodes isn’t backing down on his bet against Home Capital Group (HCG.TO) despite Warren Buffett taking the ……………
This is an example of what I was getting at.
I already know what happened to 3208 Euclid Ave and put the results up on the blog.
Property insight is yet to update but bc assessment has.
One of the latest tools I am using to show that I can do the same stuff as the cool kids is the reverse image search on Google.
I find pictures of houses with the sold price but no address and I save the image and enter it and it spits out the address and some of the realtor information.
I hope some good will come of all this but we probably won’t know until I am 45…
M43BC
https://www.propertyinsight.ca/3208-euclid-avenue-vancouver-bc-q3kxdk3pv6yw
https://evaluebc.bcassessment.ca/Property.aspx?_oa=QTAwMDAwMzZQNg==
#98 Garth fan on 10.18.17 at 10:03 pm
Don’t feed the troll. I posted about this a few days ago but the school system is messed up because the parents have too much power.
That’s who is to blame. The parents.
Most teachers are powerless and trying to play the game and survive. They will walk the walk and talk the talk…but may have very different views on life and politics outside of work.
MF
#14 Toronto is for WINNERS not LOSERS and WHINERS on 10.18.17 at
Did you know that Canadian women are only paid 65 cents for every male dollar earned, and that 1 in 2 women in Toronto are victims of sexual assault in their lifetimes?
We must stand up against misogyny against Canadian women in Canada. we MUST teach women in Toronto to be strong and to fight misogyny and sexism where ever they travel.
—————————————-
I suspect that with your ridiculously false statistics, that you would not have a clue what actual misogyny.
You dirty SHYSTERS are horrible ugly people. You don’t tell the masses the truth. Always spinning the truth. You SHYSTERS are true scum of the earth. B20 is going to CRASH the market
Happy Housing Crash Everyone Everyone! :-)
Sales of Toronto townhouses have fallen off a cliff
Toronto real estate is a never-ending whirlwind.
A new report from Zoocasa shows that townhouse sales have plummeted dramatically this month, and are expected to continue dropping.
The mid-month statistics reveal that townhouse sales fell 48 percent year-over-year in Toronto, and plunged 62.1 percent in the GTA month-over-month.
At first glance, it may seem that the total inventory of available townhouses is dropping, leading sales to drop as well. However, the report only shows a 15 percent drop in available inventory since October 2016.
While this is significant, it pales in comparison to the drop in sales.
The sales-to-new-listings ratio sat around 36.1 percent, which indicates a buyer’s market. A ratio between 40 and 60 percent would indicate a balanced market, according to the Canadian Real Estate Association.
Home sales in all categories fell, but not as much as townhouses. Since October of last year, condo sales were down 42 percent, semi-detached houses were down 35 percent, and detached houses fell 34 percent.
Policies from the Ontario government and fears of housing bubbles bursting may have significant impact on sales numbers.
Why townhouses specifically fell is not known. It may be a result of buyers taking higher interest in detached homes, which saw a slight sales increase of a modest one percent in the City, and 11 percent across the GTA.
http://www.blogto.com/city/2017/10/toronto-townhouse-sales-decline/
thanks to all the folks who post from YVR… you provide a glimpse of sanity in Vandelusional.
and thank you Garth, for this website, and your invaluable advice.
More bad news thanks to shysters. Shame on you filthy shysters.
http://housesigma.com/blog-en/2017/10/17/a-messy-story-the-kennedys-condos-tarn-financials-development-halt/
Thirty percent drop in real estate is just a small drop in the basket ….. the home pieces have escalated beyond their Assessment value …. to bring the home prices down to a more acceptable level you are looking at 50%+, before people start buying again. A home, in the lower mainland we are watching, has gone up 400% in value from the assessment value 3 years ago. That is totally insane. We are definitely NOT buying anything at these crazy asking prices. The sanity of people nowadays has gone off the scale of common sense and reality. Thanks to cheap money (low interest rates), their debt has basically eaten them up. It is time to pay the piper!
#49 Smoking Man on 10.18.17 at 8:21 pm
Just a sad day for me and the family. 3 years ago today we lost a beloved nephew, Today we lose Gord.
It’s stuff like this on the earbuds that make you wanna live another day in a shitty world.
RIP Gord, you were one of the best made me proud to be Canadian. Click on the link on my name and sing along.
Bourbon blues on the street, loose and complete
Under skies all smoky blue-green
I can’t forsake a Dixie dead-shake
So we danced the sidewalk clean
My memory is muddy. what’s this river that I’m in?
New Orleans is sinking man, and I don’t wanna swim
Colonel Tom, what’s wrong? what’s going on?
You can’t tie yourself up for a deal
He said “hey north you’re south shut your big mouth,
You gotta do what you feel is real”
Ain’t got no picture postcards, ain’t got no souvenirs
My baby, she don’t know me when I’m thinking ’bout those years
Pale as a light bulb hanging on a wire
Sucking up to someone just to stoke the fire
Picking out the highlights of the scenery
Saw a little cloud that looked a little like me
I had my hands in the river
My feet back up on the banks
Looked up to the Lord above
And said “hey man thanks”
Sometimes I feel so good I gotta scream
She said Gordie baby I know exactly what you mean
She said, she said, I swear to God she said…
My memory is muddy. what’s this river that I’m in?
New Orleans is sinking man and I don’t wanna swim
————-
Best lyrics, ever.
Still don’t know why they did not make it in the States..
Garth;
you neglected to mention the ‘donation ‘ to bombardier and their family that has been turned over to Airbus for free. I have no idea why they thought that would fly past the american competition.
the rich vs. the not so rich.
Divide and conquer.
Typical Liberal ideology; we will make rules that affect you negatively, but work out fine for us, your leaders.
#111 Lead Paint on 10.18.17 at 10:41 pm
#102 For those about to flop… on 10.18.17 at 10:12 pm
Don’t let them get you down Floppy! It’s nice to see people on this forum try to exchange meaningful information, instead of just bashing each other’s brains out.
But what are pink snow, pollen and pumpkins anyway?
————-
Why pink? Never figured this out, myself.
I’m more of a blue person.
Magnitsky law passes unanimously in our Senate. Damn straight!
We are returning to an UltraBlue, Ultra-anti-Russian stance and I couldn’t be happier. Long may it continue!
@ Toronto is for whiners,
What about the wages of factory-employed Mexican women, or the child labour from Asia used to manufacture your designer dress, stilettos or handbag in violation of the Slavery Act?
#14 Toronto is for WINNERS not LOSERS and WHINERS on 10.18.17 at
Did you know that Canadian women are only paid 65 cents for every male dollar earned, and that 1 in 2 women in Toronto are victims of sexual assault in their lifetimes?
We must stand up against misogyny against Canadian women in Canada. we MUST teach women in Toronto to be strong and to fight misogyny and sexism where ever they travel.
——————————————————-
In other words, you teach your students to become snitches and butt hurt SJWs?
A strong overpaid SJW like yourself, who is generous should really visit Mexico to spread #me too, #gender equality to the armed Cartels.
Please refrain from using Mexican women as cannon fodder post-colonial SJW teacher.
why cant we open more than one corp to shelter 50k each entity?
#98 Garth
#14 Toronto is for WINNERS not LOSERS and WHINERS
You forgot to add hashtag “me too”
Lol
The adage “those who can’t do, teach” . Yikes, scary that these are the teachers. Online education replacing human teachers cannot come soon enough and get rid of these ignorant feminists. Waste of space.
***********************
Challenge for you Garth,
Substitute ‘immigrants’ where ‘feminists’ are in the above posters’ quote and it would be deleted for being racist.
Why is it that this submission is deemed acceptable Garth?
Inquiring minds want to know…
Can you not respect women and yet dis feminists? ~ Garth
*********************
First, I would like to thank you for allowing this post through.
Second, I will start dissin Black Lives Matter on your blog as it appears to be a-OK with you. Trumpian but allowed.
WOAAAH!
So women business people are about to get better tax deals than male ones?
In the interest of “fairness”?
How the *$%#$ does that work? That’s the most sexiest* thing I’ve ever read!
* that was a joke, the reality isn’t.
Speaking about Vandelusional, something is going on with Detached sell prices according to Zolo.ca.
In little over a week, sell prices have jumped by a considerable amount esp. in Detached properties.
Do not know what is going on here since posts from Flop and My Realty Check all indicate otherwise (prices should be dropping). Even Zolo.ca shows that for a categories of Detached, Sale to List all below 100% (low to mid 90% range).
Nothing in MSM or on Twitter about this recent phenomenon either (you would expect Lazarus of Bethany, Phoenix rising from the ashes stories by now from the YVR RE Cult).
Don’t get mad at me, just posting an anomaly that hopefully someone that has more information can explain.
I am not certain that this has anything to do with B20 and what Garth warned about wrongheaded pre-B20 buying yesterday, even CMHC says that a little over 50% of mortgage holders/buyers are even aware of B20.
Average Sell Price Jump:
https://i.imgur.com/U8o8ZSC.jpg?1
Detached Sell Price Jump by Bedroom Size:
https://i.imgur.com/BoMXKu7.jpg?2
“#14 Toronto is for WINNERS not LOSERS and WHINERS on 10.18.17 at 7:17 pm ”
Dear teacher,
– Did you know that women work fewer hours than men and are a net negative when it comes to paying taxes? Maybe you should be telling the women to work more hours so then can catch up with male wages? I hear there are plenty of openings in the sewer cleaning and garbage pickup professions.
– define sexual assualt
– who is going to enforce the legislation? If your answer is other males, how do we ensure the enforcers don’t become assualtees themselves? Besides, if women are so strong and independent, why do they need legislative enforcement to try and save them from males in the first place?
– non profit – hotline – complaints – ??????? – end violence – let me guess, you need males to man up and respond to the complaints to end the violence?
– congratulations on teaching your students to be stupid
– ‘we’? Whats in it for us?
I want to be like the so called leaders of this country. I shall be a crook. I will lie, cheat and withhold information so me and my family can get and stay well ahead of the other crooks in government. Wallace, Duffy ring a bell.
#95 OttawaMike on 10.18.17 at 9:57 pm
CMHC is stress testing for a 30% housing price drop nationally in case of : a major earthquake, unemployment at 12% or another oil shock.
All highly unlikely.
——————–
Yes, just like anyone who bought their 265k Burnaby bungalow 18 years ago thought it was likely that in 2027 it would be selling for 1.6 or more.
They will all tell you they knew it all along but the way the world is now, what is unlikely? A 30% crash or unemployment or Canadians that owe $170 for every dollar they earn, basically zero real wage growth for 40 years ….
A lot of unlikely already happened.
Should be 2017
Trudeau and Morneau are HYPOCRITES of the worst kind.
They should be ashamed of themselves.
We should be ashamed to have them as representatives of our country.
Those that voted for Trudeau should be especially ashamed of themselves, and repent, by never voting for him again. Ever.
Trudeau and Morneau should do the Walk of Shame.
https://www.youtube.com/watch?v=YlHOnueVUDI
People hate hypocrites, not because their beliefs and actions are inconsistent, but because their moral proclamations imply that they are more virtuous than they really are.
https://www.theatlantic.com/science/archive/2017/06/mind-of-a-hypocrite/530958/
“When the Way is forgotten
Duty and justice appear;
Then knowledge and wisdom are born
Along with hypocrisy.
When harmonious relationships dissolve
Then respect and devotion arise;
When a nation falls to chaos
Then loyalty and patriotism are born.”
-Lao Tzu
Watch this to see what a buffoon T-2 really is!
http://business.financialpost.com/personal-finance/taxes/liberals-narrow-passive-income-measure-on-private-firms-to-target-most-wealthy
So embarrassing!
Sales of Toronto townhouses have fallen off a cliff
http://www.blogto.com/city/2017/10/toronto-townhouse-sales-decline/
A new report from Zoocasa shows that townhouse sales have plummeted dramatically this month, and are expected to continue dropping.
The mid-month statistics reveal that townhouse sales fell 48 percent year-over-year in Toronto, and plunged 62.1 percent in the GTA month-over-month.
At first glance, it may seem that the total inventory of available townhouses is dropping, leading sales to drop as well. However, the report only shows a 15 percent drop in available inventory since October 2016.
While this is significant, it pales in comparison to the drop in sales.
The sales-to-new-listings ratio sat around 36.1 percent, which indicates a buyer’s market. A ratio between 40 and 60 percent would indicate a balanced market, according to the Canadian Real Estate Association.
Oh, the poster child for our economic salvation: small business. A healthy economy requires so much more than small business alone. And they’ve been systematically stripped away.
Gubbmint is a waitin’ and a hopin’ for a magic bullet.
It’s been doing that post-GFC (8 years and counting, if we don’t glance a bit further back at the 2001 IT crash) and it’s doing it again with small business, hoping for liftoff, whilst licking its chops at the prospect of more tax revenue available for wasting.
Not so fast. The economy doesn’t do command performances. Certainly not without the underpinnings of health, whereby most who work and/or have cash working for them feel confident and secure enough to spend. Even many of the rich are in lock-down and looking for every bit of advantage they can get. That’s what the rich do…engage in the care and feeding of their savings.
Today, so many have been sucked dry through the retarded and destructive monetary policies of the past 3+ decades, but most particularly the past 9 years, resulting in:
– pi$$ poor interest rates;
– skyrocketing re prices;
– a morbidly obese FIRE industry;
– creation of Frankenstein-like financial products that have destroyed trillions in savings;
– permanent disappearance of good jobs and benefits;
– blurring of lines between companies’ pension funds and the rest of the balance sheet, allowing for inevitable under-funding of pension liabilities;
– debt now approaching 2X every dollar earned;
– misery and dwindling hope for the future – just look at our young;
– government debt and deficits at all levels;
– predatory taxation policy.
And now we have government run by a steaming pile of entitled ego maniacs succeeding grandly at infuriating the lauded “Middle Class”.
Our “family fortune” vs max tax for “the rest”. Private island yuletide joy vs pay as you go.
And let’s not even get started on blind trusts.
Ok, call me a little slow on the uptake, but I just realized that “taxfairness” is an example of Orwellian doublespeak, like “thoughtcrime”.
#14 Toronto is for WINNERS not LOSERS and WHINERS on 10.18.17 at 7:17 pm
Did you know that Canadian women are only paid 65 cents for every male dollar earned
—-
Did you know that is not true? And to think this is the mentality indoctrinating our children. within a generation or two, sharia law will be enforced in this country. only then will you look back and see how green your grass is now.
#33 Smartalox on 10.18.17 at 7:42 pm
“I’d rather have my politicians swimming in their own wealth, than have them ripe to be bought by lobbyists and special interests, in exchange for legislative ‘considerations’.”
Not sure I agree 100% on this – being rich probably helps somewhat, but for far too many of them, however much they have is never enough.
#35 A Dollar is a Dollar is a Dollar on 10.18.17 at 7:43 pm
“I appreciate your sincere enthusiasm Garth, but boy, are you ever in your own little bubble!
In spite of the recent snafus, people are still generally very content with the CHANGE that Trudeau brought in. He will get a lot of forgiveness for any sins the next two years. (As long as doesn’t start wearing lipstick and mascara and pretending to be Harper!)
Here’s a more on-the-ground and balanced view about where the Liberals are today with Canadians:
https://www.thestar.com/opinion/commentary/2017/10/18/to-judge-the-trudeau-government-at-mid-term-look-at-the-big-picture.html
The Libs don’t have to be perfect – all they have to be is “not Harper”.
2019 is a lock.”
Snafus? Really! Dumbest and most disingenuous post since inception. More like sneaky, underhanded and premeditated serial fubars, ie, attempting to ram new tax policy through during summer, when most Canadians’ minds are on recovering from the daily grind.
FYI, they all wear makeup for the camera; forgiveness is in the eye of the taxed and the current dog and pony show is the biggest joke in Canadian politics. Bar none.
Canada’s image has become a global joke with this one-armed pushup, tatted twit with the Cheshire cat smile and his retinue of lightweight NAFTA losers and bobble heads.
2019 still has a lot of runway and the landing lights are already glowing red.
That’s some yummy koolaid you’ve been downing by the bucket load. No wonder we have an opioid crisis.
Snafu my derrière.
@#124 Give YOUR head a shake.
“Substitute ‘immigrants’ where ‘feminists’ are in the above posters’ quote and it would be deleted for being racist.
+++++++
Ok well, if we’re going to play the “word association ” game
Substitute “misandrist” for “feminist” and the truth shall be revealed.
Oh and personally.
I believe ALL lives matter not just Black lives.
But thats my non racism rearing its unbiased head.
Sorry.
How’s your friend making out with her teaching sabbatical? Has she packed her bags and headed south yet? Time’s a wastin’. Ton’s of Mexican drug cartel members to “teach” gender equality to.
And we expect a written report when she’s done
#46
Passive income can and does include rental income and of course interest income. So you get 1m @5% but what about rental income ? Seems to me the 50k is to low
@#128 MF
“You will find that very few people over the age of 25 will admit to voting Liberal out of embarrassment.”
+++++
Yeah, watching him last night on TV was particularly cringe worthy………
Hey all you social justice voters out there.
Lets pretend its Fall 2019 and after the federal election the NDP are the ruling party in Canada with a minority govt ( the liberals reduced to third place after T2 led them into the poltical hinterlands due to NAFTA gender equality talks failing absymally…even though the US negotiators laughed until they cried….they called it
“Doing a Trudeau”).
Anywho.
Where will the Canuck buck be?
One only need look at Kiwiland for the results of their minority Labour Party…. $0.70 and droppin…….
https://ca.reuters.com/article/businessNews/idCAKBN1CO037-OCABS
You’re never unwatched, pardoned nor given the benefit of the doubt. Unless your name is Trump – Garth
—
what color glasses do you wear? not enough evidence of MSM left-leaning anti-Trump bias?
As long as people are being programmed by mainstream media, they will continue to express the opinions, attitudes and beliefs that have been downloaded into their minds.
‘… while Ottawa wants the trade deal to foster gender parity. Seriously.’
Great column, Garth. Always fun to see the Liberals caught in hypocrisy.
As for the above remark, I recall, back in 1987 during the original FTA negotiations, a remark made by the egregious Margaret Atwood about Canada’s prospects in the deal. This was made to a parliamentary committee studying the issue at the time. She said ‘Canada has done as well under American domination as women have done under male domination.’ It appears T2 has taken this to heart and, if so, the Americans will eat him alive. There’ll be nothing left of him but his tat.
There are some who complain about bank profits.
There are others who own bank shares.
http://business.financialpost.com/news/fp-street/royal-bank-of-canada-shares-join-the-100-club-despite-splitting-four-times
Congrats to blog dogs in the latter group.
For flop.25 pm
this is a new case on Flop’s sheet
3443 E 51St Ave, Vancouver paid 1.945 June 2016 ass 1.862
https://www.zolo.ca/vancouver-real-estate/3443-e-51st-avenue
https://evaluebc.bcassessment.ca/Property.aspx?_oa=QTAwMDAwM0Y2Qw==
/////////-///////////
Thanks for the help.
I forgot to tell the guys on here that are wondering about the pink colour.
The pumpkins I am finding in the patch at the moment have blood splatter on them.
I have gloves…
M43BC
https://beta.theglobeandmail.com/news/politics/morneau-keeps-stake-in-family-business-through-holding-company-watchdog-says/article36638404/
Finance Minister Bill Morneau told the company he once helmed that he would be placing his substantial holdings of Morneau Shepell in a blind trust – a mechanism used by cabinet members in office to insulate themselves from conflict-of-interest accusations.
Ultimately, he changed his mind and instead indirectly kept his holdings – a decision that only came to light this week when The Globe and Mail reported that Mr. Morneau had not used a blind trust, as Justin Trudeau did for his family fortune.
They know it coming you shysters. They are now laying the excusses as to why.
https://www.theglobeandmail.com/real-estate/protectionism-tariffs-could-slam-housing-market-cmhc-warns/article36638250/
Happy Housing Crash Everyone Everyone!
#144 Give Your Head a Shake Garth on 10.19.17 at 1:46 am
Second, I will start dissin Black Lives Matter on your blog as it appears to be a-OK with you. Trumpian but allowed.
—————————————
Black Lives Matter deserves to be dissed just as much as 3rd wave feminists do.
Any organization that sanctions the death of police officers deserves disdain and condemnation.
Good on you for recognizing this.
Sounds kinda like retained earnings, doesn’t it? – Garth
No, it sounds like a share in a company that is physically owned. I am lost on this point.
“any small incorporation that earns more than $50,000 a year on retained earnings” – Garth
I am a little fuzzy on the math here. A prudent portfolio would have to be north of 2 million dollars ? Name me a hair salon that has over 2 large in retained earnings.
Extremism does not make your points stronger. Earnings retained in cash or stock are of similar clout financially. As for a $50,000 cap on earnings not subject to a 70% rate, that would equate to a $800,000 – $1 million pool. Not hard to see how many professional corporations could, over time, achieve that. Individuals certainly do. — Garth
#2 Keith on 10.18.17 at 6:55 pm
“Federal deficit will be 300% more than we were assured.” Extraordinary claims require extraordinary evidence. Where did you here this?
___________________________________
No problem, but first something from you.
I need you to publicly state your obvious disbelief that T2 has tripled our deficit from what he originally promised explicitly as follows:
“300% increase? That is just extraordinary! I can’t believe Trudeau would ever do that to us! That must be a load of Neandercon BS!! Where did you hear about this!?”
Do that, along with making a point to read the news once or twice a month, and I will provide the requested “evidence”.
Looks like T2 is moving from SNAFU to FUBAR.
#124 Give Your Head a Shake Garth on 10.18.17 at 11:26 pm
#98 Garth
#14 Toronto is for WINNERS not LOSERS and WHINERS
Can you not respect women and yet dis feminists? ~ Garth
– – – – – – – – – – – – – – – – – – –
*blinks* …No…not really Garth, not really. I’ll explain.
If you are sincerely dissing feminists, (a label that I identify with, as do many of my regular, every-day female friends) you are usually doing that in a hateful dismissive way towards any woman who dares express her disdain at the institutional discrimination and sexism that women encounter for the full course of their lives. Now, that could be a regular woman that you know personally, or that could be a woman you don’t know.
What, in your mind, is a “good” feminist? That question goes out to anyone who has a problem with the word “feminist”. For a woman to try to be a “good” feminist, i.e. one that doesn’t make men uncomfortable or challenge their currently held beliefs about women, then that would be contrary and counter-productive to the entire point of being a feminist!
That’s like saying, what is an acceptable way for BLM to express their points of view (without making white people uncomfortable or re-evaluate their place/privilege in society – because that’s the point)?
You would never say, “Oh, I don’t like how that black person tries to express their disdain for racism! What a f*kin’ BLM nazi!” (But alas, in Trumpmerica, we are hearing this sentiment).
Let’s play this game – insert “BLM activist” for “feminist”:
>>> “Can you not respect black people and yet dis BLM activists?”
See how problematic that is?
I rest my case.
And you’d think that in an era of every gosh-darn woman hashtagging herself as #METOO (essentially the entire female population has experienced some form of harassment or assault, myself included – some of my/my friends’ stories would make your hair curl), we’d start to realize this is actually a human problem *worth* addressing and worth being sensitive to, as sensitive as we are to racism. I mean, do any of you have wives, daughters, girlfriends? Chances are, they have some thoughts on the subject of being a woman.
The reason men have an issue with “feminism” and “feminists” (i.e. women vocalizing their disdain for patriarchal hegemony) is because it often forces them to confront the power and privileges they enjoy daily (like not having to plan a route home that will ensure you’re not sexually assaulted, not making eye contact with strange men on the subway, making sure you always have an eye on your drink at a bar, or applying for a job that you know you’ll be passed over for a man, or knowing that if a man were doing your job he would be paid more, you know, the little things).
So maybe rephrase to something like, “I’m poking fun at this post cause its absurdly written”. Because it is a bit absurd (Mexico? whaa?). Cause that’s what people do here. But just be aware of what context you’re dragging the whole ‘feminist’ thing into. Cause I’m sure you wouldn’t do that with ‘BLM’.
#169 AB Boxter
#144 Give Your Head a Shake Garth on 10.19.17 at 1:46 am
Second, I will start dissin Black Lives Matter on your blog as it appears to be a-OK with you. Trumpian but allowed.
—————————————
Black Lives Matter deserves to be dissed just as much as 3rd wave feminists do.
Any organization that sanctions the death of police officers deserves disdain and condemnation.
Good on you for recognizing this.
***************
Can you quote me where you see this? I’ve attached the link to their website for your convenience.
https://blacklivesmatter.com/about/
For those about to flop
I truly appreciate your posts don’t be bothered by negativity. I also like to see that you look at bcassessment as well; I was ridiculed once for using that reference for review of property values (I look at the recent sold price on the site to see what listings are doing…ie going up or down for the new listing. Not always immediate but sometimes they are posted quite quickly on bca. ). Thank you for the work you do and the time you take.
#173 Dissident on 10.19.17 at 10:34 am
#124 Give Your Head a Shake Garth on 10.18.17 at 11:26 pm
#98 Garth
#14 Toronto is for WINNERS not LOSERS and WHINERS
Too moronically ideological to reply to. — Garth
– – – – – – – – – – – – – – – – –
Nope, its pretty logical and air-tight of an argument :)
But I mean, if this comment section defines itself as one that sees fit to dis BLM, feminists, or any other minority groups, i.e. immigrants, LGBTQ…Boomers…then so be it. That’s the comment section we are living in then. I guess we should expect to be outraged, triggered, etc. Everyone’s fair game. (Oh, except Boomers, of course, that will get you banned).
Why threaten to ban someone (SCM) who disses Boomers and exhibits inflammatory ageist comments, but not when other groups are targeted? Just wondering. I stood up for Boomers even when I’m not a Boomer (that’s called empathy). Are Boomers the only group worth standing up for? If you were a Boomer woman, then you probably wouldn’t stand for any misogynistic remarks or anti-feminist rhetoric either.
Anyways, food for thought. *sips morning coffee*
#173 Dissident on 10.19.17 at 10:34 am
This is a dog blog, we welcome muts half breeds and bitches. To be popular I suggest you find a cat blog were your views will be embraced with open arms.
I think the biggest ethical problem for Morneau may be Bill 27. This brings legislation that directly benefits his company. How is this not a conflict of interest?
#135 Happy Housing Crash Everyone! on 10.19.17 at 12:10 am
Urban Corp
http://www.cbc.ca/news/canada/toronto/urbancorp-buyers-go-to-court-for-damages-1.4070652
Fortress
http://www.macleans.ca/economy/angry-investors-seek-class-action-against-high-profile-seller-of-risky-syndicated-mortgages/
Mirvish+Gehry project
http://www.cbc.ca/news/canada/toronto/mirvish-gehry-great-gulf-1.4316699
Langara West Project
http://vancouversun.com/business/local-business/pre-sale-condo-buyers-at-cancelled-langara-west-project-contest-developers-offer
Something is going on. Why are rich investors leaving or having trouble fulfilling their obligations, when there are local buyers willing to sign up for these projects and the condo market is supposedly “hot” right now?
Do you think they finally realized they paid too much for a crappy concrete box in cities that are boring and have lower incomes compared to other “world-class” cities? Or have they found more interesting and better valued investment opportunities around the world?
I never understood the appeal of real estate in Canada to wealthy domestic or foreign investors (people in Toronto/Vancouver who are in a lot of debt and own overvalued million dollar houses don’t count as wealthy).
Who would put all their money in one asset or all in one country. There are lots of investments choices around the world with better returns and lower risks.
If this is true “Did you know that Canadian women are only paid 65 cents for every male dollar earned” why there are males employed at all? Are companies insane and waste money just to employ men? I don’t think so but I am not a feminist.
M59ON
DELETED
To All responding to #14:
You know this stuff is a parody, mocking feminists, right?
On the other hand, #173 is real. I think.
Dogs, I’m going to level with you…straight goods. I have an Ontario incorporation and I WANT TO HIRE PEOPLE!! I need help! I have an expanding client base! There is work to be done!
All this despite living in a province with 300+ billion in debt, electricity costs in the rural areas that are forcing people to visit food banks and go to malls in the winter so they stay warm, and a government that has run over one OPP investigation after another. We are the new Zimbabwe. All we need is Robert Mugabe’s son to be Premier next. Next is probably a Maltese approach to journalists where dissenting people are quietly murdered.
I don’t own a majority share in Morneau Shepell in a holding company in Panama. I’ve never dealt with Panamanian lawyers. I pay my corporate and personal income tax with transparency and truth every year.
Penalising corporate income above 50k is effectively saying ‘don’t even think about hiring anyone’.
Please may they defer all this shit until 2019 so we can replace this government and never discuss an attack on hiring and small business again. Please?!?
#159 crowdedelevatorfartz on 10.19.17 at 8:25 am
Oh and personally.
I believe ALL lives matter not just Black lives.
– – – – – – – – – – – – – – – – – – – –
Well, I’m glad we straightened that out. Open your mouth and dispel all doubt, eh?
If that’s what you think then the message of that movement is lost on you. As is likely the message of any other movement that doesn’t include you.
#180 isuckless on 10.19.17 at 11:08 am
If this is true “Did you know that Canadian women are only paid 65 cents for every male dollar earned” why there are males employed at all? Are companies insane and waste money just to employ men? I don’t think so but I am not a feminist.
– – – – – – – – – – – – – – – – – – – – –
I’m glad you asked. Here is some actual research with pretty graphs and charts to illustrate this very real thing.
“At the rate of change between 1960 and 2016, women are expected to reach pay equity with men in 2059. But even that slow progress has stalled in recent years. If change continues at the slower rate seen since 2001, women will not reach pay equity with men until 2119.”
http://www.aauw.org/research/the-simple-truth-about-the-gender-pay-gap/
The more I consider the issues looming in Canada, and Western Civilization in general; the more I find the solution to these problems is one and the same.
Don’t pay them.
Politicians like Trudeau are currently building the foundations for a totally revenue starved government in the near future if economic conditions like we’ve had in the last decade persist. Accumulation of debt is always bad, but it’s deadly when you can’t muster the revenue to pay the interest and roll it over. The Libs don’t even have a plan to achieve a balanced budget for crying out loud.
How long can our Government continue making interest only payments all the while racking up Billions and Billions more new debt every year?
Well, that’s simply a matter of what the rates are, and how much revenue can they raise to roll over ever increasing piles of new debt. When the debt service costs (paying just the interest) exceed the revenue available – the party is over.
Ontario’s debt service costs are already essentially tied for second most expensive line item on the Provincial budget. The average Canadian households’ largest single expense in 2017 is TAX. Private sector wages are going nowhere, while it seems our current leadership has but one mandate: raise revenues at any cost.
I’m starting to sense the end of the line is approaching. Bill’s ham fisted attempt at a quick cash grab turned out to be a huge deal and he’s backing out of it. It’s going to be real HARD to extract additional revenues from here on in. Sure they can pass new measures and make new policies, but talking about increasing revenues and actually getting paid are two entirely different realities.
IMHO, we’ve been burning the candle at both ends for about 10 years, and we’re no closer to any economic boom times than we were after the GFC settled. We spend and borrow, and tax. The wax gets softer in the center. It’s going to get tougher to continue on with our borrowing/spending/taxing ways. The government is going to have to fight for every additional penny they try and carve from the wage stagnant hides of Canadian private sector grunts.
In short, the Government will keep getting bigger, more expensive, will keep borrowing more, and will keep running 11 figure deficits. No self balancing budgets will appear until we get a 2000-2007 style commodity boom once more, and that will take another China scale economic expansion. Revenues paid will tank alongside job losses, wage stagnation, excessive tax loads, excessive debt loads, real GDP shrinkage, and the eventual willingness of the majority to vote ANY Politician promoting tax increases out the door. That’ll leave Canadians in an imminent default position. My bet is it’ll be too late to do anything about it by then, just like every other economy that found itself in this position.
Much better to just start cutting them back right now.
So what you’re saying is our finance minister, who writes our tax laws, has a major shareholding stake in a family company which company assists high net worth and high income person’s to minimize their income tax exposure?
And this same finance minister has decided to raise taxes on those operating small businesses ie persons whom his family firm would not be assisting or providing advice to?
Is that essentially what you have written? Or am I getting that wrong?
#184
Yup, BLM:
From 1976 to 2005 —
94% of black victims were killed by blacks
(strangers by strangers so including police)
source:
https://www.bjs.gov/content/pub/pdf/htius.pdf
#173 Dissident on 10.19.17 at 10:34 am
———————————————-
Yawn. This is a real estate & financial blog sweety, take off the knitted pink hat and make a couple sandwiches; Garth and I are hungry.
#165 Victor V on 10.19.17 at 9:37 am
There are some who complain about bank profits.
There are others who own bank shares.
http://business.financialpost.com/news/fp-street/royal-bank-of-canada-shares-join-the-100-club-despite-splitting-four-times
Congrats to blog dogs in the latter group.
_________________
That’s like saying congrats to the Bronfmans for supplying Al Capone with booze.
Re: gender neutrality / fairness
I was just in Kingston for my engineering 25th reunion with my Sci 92 class, and it was beyond epic. I felt like Smoking Man for at least a weekend. To go from that high to hearing about Gord Downie was about as 180 as you can do. I was at school there when they were first coming up and Gord could walk downtown without anyone even knowing who he was. Was great to see their rise. Now we even have Happy Housing writing new lyrics for them, so you know they were important.
Anyway, one of the topics we were discussing is apparently the % of women in Queen’s engineering has slightly fallen since I was there, which of course is awful to hear.
This topic is very personal for me, as my parents met at Queen’s and my mom would have been an engineer except that ‘women didn’t do that then’, which of course is ridiculous.
Of course we should be promoting female entrepreneurship. Some of the most interesting business owners I know are female! Fantastic businesses. Of course we should be introducing young female students to the STEM fields. The country could only benefit from that.
But all forms of affirmative action are wrong, and misguided. Look at Trudeau’s cabinet ‘because it’s 2015’ – guess what – you just automatically excluded the male expertise that was available for cabinet positions by limiting the number of male spots.
Education, business assistance, and opportunity are the solution. No affirmative action! Affirmative action is an insult to those it’s supposed to help, by effectively saying ‘well you got this position because you weren’t capable to get it on your own merit’. Terrible, terrible policy.
For an extremely wealthy person, the gold standard of blind trust is very high indeed. While I am no fan of T2 and Morneau, I do have some sympathy for them. Would I (or you) be able to give up control of your fortune in a blind trust? Just asking as luckily or unluckily, I do not have that problem.
And what kind of blind trust does JT use? Is it ever truly blind? I have more questions than answers.
#177 Smoking Man on 10.19.17 at 11:04 am
This is a dog blog, we welcome muts half breeds and bitches. To be popular I suggest you find a cat blog were your views will be embraced with open arms.
– – – – – – – – – – – – – – – – – – – – – –
Heheh, am I disturbing your safe space SM?
King John (Trudeau) and the Sheriff (Morneau) will have difficulty getting their tax changes through the senate in time for next year. They still don’t have anything written with the details ironed out. The senate seems like it will drag it’s heels on this and request studies and committees to fully understand this very complicated issue, since the Liberals don’t want to seriously consult any experts.
#174 Give Your Head a Shake Garth on 10.19.17 at 10:39 am
#169 AB Boxter
#144 Give Your Head a Shake Garth on 10.19.17 at 1:46 am
***************
Can you quote me where you see this? I’ve attached the link to their website for your convenience.
https://blacklivesmatter.com/about/
—————————–
Black Lives Matter Toronto co-founder Yusra Khogali in a tweet…
“Plz Allah give me strength to not cuss/kill these men and white folks out here today. Plz plz plz”
http://toronto.citynews.ca/2016/04/05/black-lives-matter-co-founder-tweets-about-killing-men-and-white-folks/
Time to end this thread. Lots of people say stupid things. Let it lie. — Garth
The Mor you Neau
#119 Ogopogo on 10.18.17 at 11:04 pm
#274 Triplenet on 10.18.17 at 6:21 pm
#224 Ogopogo
Just exactly what scummy profession were you involved in before you retired to your sub-tertiary Okanagan location?
PS – dont go postal on me.
Who said I’m retired? I’m a Gen Xer renter-by-choice with a visceral distrust of the RE cartel and their filthy minions. Why do you assume that my profession is “scummy”?
———————–
Those who does “Renter-by-choice” are who I call smart people. Current RE prices are not sustainable and we will see hefty decline in coming years. Your wait will be rewarded.
Don’t get me wrong. I am a homeowner but my mortgage payment is mere 10% of my salary and live debt free besides my mortgage. Anyone overextended for your home-ownership will lose pretty much everything you have. Anyone with large HELOC will soon receive a letter from your bank about repayment because you are underwater.
194 Dissident on 10.19.17 at 12:23 pm
#177 Smoking Man on 10.19.17 at 11:04 am
This is a dog blog, we welcome muts half breeds and bitches. To be popular I suggest you find a cat blog were your views will be embraced with open arms.
– – – – – – – – – – – – – – – – – – – – – –
Heheh, am I disturbing your safe space SM?
…..
Just being playfull. And as always respect other people’s point of view.
#175 – I’ll second that.
#177 Smoking Man:
please do not insult cats.
They do not accept fools like dogs and give you their love ONLY if you are worthy. Dogs give their love unconditionally.
No.14
Thank God you’re just a troll.
Because the thought of our school teachers teaching our kids to go to a place like Mexico and stand up to the drug cartels on their own turf is terrifying. If I ever have a teacher teach this shit to my kid I’ll pull him out of school.
And I will sue the school board!
Thanks for the FB video link to Morneau’s rural press conference Garth. Interesting to watch. The best part was watching the journalist hold his feet to the fire in the last five minutes of the video over his conflict of interest in continuing to hold shares of his pension company while seated as finance minister. A few observations from the video— I found it odd that he kept referring to “fishers” instead of the more commonly used (among us unwashed masses) term “fishermen.” It was a small repeated verbal slip which to me reinforced the idea that he is an elite and different/out-of-touch from the rest of us. Also, on the side camera view, was that a pile of dung on the ground behind the finance minister. Final comment— Morneau came across as a rich guy who will only get richer once this all plays out.
Cheers,
BC Doc
Dogs, we are going to see a level of FONGO in Q1 2018 that will blow your underwear off. It will be absolutely epic. And that’s without any help from the BoC, even though there SHOULD be help from the BoC raising rates.
B-20 is like a Christmas present that keeps on giving.
#187 IHCTD9 on 10.19.17 at 11:45 am
yes, totally why it is not hard to envision hyperinflation on the horizon. Might as well just grab your favorite drink, don the rose colored glasses and enjoy the assurance from our metro-sexual messiah that the budget will balance itself while we try and spend ourselves into prosperity.
#178 SCD on 10.19.17 at 11:04 am
I think the biggest ethical problem for Morneau may be Bill 27. This brings legislation that directly benefits his company. How is this not a conflict of interest?
———————————
Of course it is. A clear conflict of interest.
He is pushing for legislation (btw to help screw Canadians with defined benefit plans to be transition to shared risk/target benefit plans, read Bill C27) , the solution for which is his company.
He even holds the shares of his companies directly (technically indirectly through a private corporation owned by him) but the indirectness would only fly with the helpful and complaint ethics commissioner appointed by T2.
Don’t worry about the guy, he is gone. His boss might have been damaged irreparably as well.
What we saw in this sh.t show is the astonishing hypocrisy of a few rich guys pretending to represent the middle class with very limited cognitive and language skills, very limited reasoning and logical skills, but very arrogant are ready to through everyone else except themselves under the bus.
Repeating few mean-nothing statements and hoping somehow that people will believe them.
T2 looked pathetic when trying to shield clueless BM from the onslaught of the press.
BM did not even have the decency to reply to questions directed personally to him.
‘You have the chance to speak to the PM now, I will handle the questions’ /pointed to BM.
I have not seen anything even remotely compared to that stupidity and not knowing what to do or communicate by a politicians at any level in my life.
IQ of 4th graders.
And these people are running Canada, negotiating NAFTA with US and will decide how to spend tens, potentially hundred of billions of CAD in infrastructure projects?
Basta.
Trust me. If you want to be in politics, be perfect. You’re never unwatched, pardoned nor given the benefit of the doubt. Unless your name is Trump. — Garth
#196 n1tro
Time to end this thread. Lots of people say stupid things. Let it lie. — Garth
Let it all lie.
Here it is:
https://www.facebook.com/pg/CanadaBusiness/posts/?ref=page_internal
The guy is now defender of small Businesses, if you listen to him he actually worries about being able to save for maternity and sick leaves, invest.
Like his legislation is not to kill small Business, but to help them.
#192 Ian on 10.19.17 at 12:09 pm
Re: gender neutrality / fairness
Of course we should be promoting female entrepreneurship. Of course we should be introducing young female students to the STEM fields. The country could only benefit from that.
Education, business assistance, and opportunity are the solution. No affirmative action! Affirmative action is an insult to those it’s supposed to help, by effectively saying ‘well you got this position because you weren’t capable to get it on your own merit’. Terrible, terrible policy.
– – – – – – – – – – – – – – – – – – – – –
I appreciate your post. However, this is a truly “chicken or the egg” situation, in terms of women *seeking* careers like this in the first place.
I blame media programming and societal messaging.
If women themselves don’t have any **real, visible female role models in STEM** then they will simply assume they do not belong there. (That’s why Trudeau’s affirmative action is actually important).
They have no path to follow and no evidence that they too as a female can be successful in whatever role. Especially when they are still very young and forming ideas of ‘self’ in their mind. *Boys don’t question their path because they don’t have to.*
The question is, how do we market STEM to women when mass media culture is telling them that models and actresses are their main female role models, and “buy these clothes, this makeup, this hair product, look pretty, be thin, look nice for others” instead of “how to crush it in STEM as a female”. There are billion dollar industries (owned by men) created around the former message.
Also, this is a supply and demand issue. When there was a war, guess who took the men’s jobs? Once the war was done, the men came back and wanted their jobs back. And so women went back to what they were doing before. It was ok when there were no men to do those jobs, but once there were men again, bye bye women, get back in the kitchen and make me a sandwich like a nice post-war wifey.
#203 BC_Doc on 10.19.17 at 12:57 pm
I found it odd that he kept referring to “fishers” instead of the more commonly used (among us unwashed masses) term “fishermen.” It was a small repeated verbal slip which to me reinforced the idea that he is an elite and different/out-of-touch from the rest of us.
===
Maybe that’s the most current acceptable term, as approved by the genderless language police.
Re: #192 Ian on 10.19.17 at 12:09 pm
Re: gender neutrality / fairness
Affirmative action
I know it doesn’t work as I heard about it from a friend that worked in the trades in the late 80’s in California and it made the people that were hired have a sense of entitlehment and were the worst employees, because they weren’t hired on merit, hired just to appease the action’s numbers.
The people hired were very down and out and as such, would steal anything that wasn’t locked down.
He even got his lunch stolen every day until he quit bringing it to work.
They would stand around and watch you work he said!
He had one story of a guy who was just hired off the street, was on the site and was caught masterbating in a window so women in the offices across the street could see him and they phoned the cops.
They said he didn’t care who saw him, and guess what, even though he was charged criminally, he couldn’t be fired because that would change the % of down and outs that the company had.
That’s how crazy affirmative action can get.
He said it was a real shit show, about 15-20% of their jobsite workers had to be these hires.
He said it was utterly ridiculous and most of these people just wasted their opportunity because they were slimy people and just out to get what they could.
Hey, isn’t that like a couple of politicians we know lol.
profit shifting
Twenty nations’ tax laws aid multinational profit shifting, OECD report says
October 17, 2017
…”Commenting during an OECD webcast today, Achim Pross, Head of the International Co-operation and Tax Administration division within the OECD’s Centre for Tax Policy and Administration, said that France has an intellectual property tax regime that does not meet the new BEPS “modified nexus” standard. Under that standard, a country may not offer tax breaks for intellectual property income, such as a patent box, unless underlying research and development occurred in the country.
Pross said that Italy’s noncompliance is a transition issue. The country allowed entrants into its former IP regime after a cut off date. Going forward, Italy’s IP regime is not harmful, Pross said. Pross said that the good news is that there is worldwide uptake of the nexus standard for IP regimes.”
============
Common definitions of tax havens
The committee backed a call for a common international definition of what constitutes an Offshore Financial Centre (OFC), tax haven, secrecy haven, non-cooperative tax jurisdiction and high-risk country. It gave overwhelming backing to a call for the Council to establish by the end of this year a list of EU member states “where Non-cooperative Tax Jurisdictions exist”.
The committee members also supported a proposal that any entity with an offshore structure should have to justify to the authorities their need for such an off-shore account.
The committee stressed the need for “regularly updated, standardised, interconnected and publicly accessible beneficial ownership (BO) registers”. It also called for proposals to close loopholes which allow for aggressive tax planning as well as more dissuasive sanctions at both EU and national level against banks and intermediaries “that are knowingly, wilfully and systematically involved in illegal tax or money laundering schemes”.
Intermediaries
The Panama Papers revealed the important role of liberal professions arguing that provisions should not just apply to banks, the report states that they should also be subject to public supervision. MEPs from the European People’s Party tried to maintain the support for self- regulation by lawyers, tax advisors and notaries but were voted down.
Background
The setting up of the Inquiry Committee was triggered by the leak of personal financial information, collectively known as the Panama Papers, which revealed that some off-shore business entities had been used for illegal purposes, including fraud and tax evasion.
http://www.independent.co.uk/voices/brexit-tax-evasion-eu-us-laws-uk-donald-trump-theresa-may-avoidance-a8007426.html
Addendum to Re: #192 Ian on 10.19.17 at 12:09 pm
Re: gender neutrality / fairness
Affirmative action
This friend also told me that the company he worked for was over 100 years old, had almost 1000 tradespeople working for them in their 3 offices and an impeccable record amongst their suppliers until one day a corporate raider called KKR (Kohlberg Kravis Roberts) raided them. The next day he couldn’t even pay for supplies with cash from the hardware store that they bought their supplies from for over 100 years because KKR had quit paying the bills and the store had been ripped off.
The company was broke up and the only company he had worked for (10 years) down there was now out of business and KKR was “liquidating” everything because it was worth more broken up.
This is your Wall Street.
This is what Wall Street thinks of them now: http://markets.businessinsider.com/news/stocks/alternative-managers-on-fire-no-end-in-sight-goldman-sachs-says-2017-10-1004520888
Absolute evil and the reason why we plebes are in this hole.
These people will not stop until they have stolen every penny from you they can.
#202 Cto
And that’s precisely the problem. The parents have too much power in our school system. Teachers are forced to go along out of fear even though little Johnny is a moron. Speak to some teachers when they are off work about their supposed “liberal views” and you will see they don’t always toe the party line, that’s for sure.
Good on you for realizing 14 is just a joke message poking fun at Toronto culture though.
MF
#14 Toronto is for WINNERS not LOSERS and WHINERS
You claim that Canadian women are paid 65 cents for every dollar men are paid. If that was true, then it would make perfect sense for Canadian companies to fire their male employees and replace them with female employees at 65% of the wage cost. As there is NO evidence of this happening anywhere, I would suggest the issue is perhaps a little more complex than your simplistic analysis indicates.
FInally!
http://theprovince.com/news/national/charges-laid-in-probe-of-alleged-b-c-drug-cash-money-laundering/wcm/e51598c9-4a00-4db0-a55a-f779eee5af4f
Now we can start peeling the onion and find out who in gov’t allowed this, since Christy Clark just got off her conflict allegations: https://globalnews.ca/news/3812500/b-c-s-top-court-wont-review-christy-clark-conflict-of-interest-allegations/.
We’re coming for you….I hope…
@#185 Dissent
You may be able to regulate what people are allowed to say…..but not what they’re thinking…..
:)
#185 Dissident on 10.19.17 at 11:24 am
If that’s what you think then the message of that movement is lost on you. As is likely the message of any other movement that doesn’t include you.
____________________________________________
I can’t speak for others, but I prefer the message (and words, and actions, and membership) of that movement to be lost on me as far away as possible.
Especially if I was black.
towards any woman who dares express her disdain at the institutional discrimination and sexism that women encounter for the full course of their lives.
_________________________________________
How could a Woman express disdain at institutional discrimination and sexism in Canada when it doesn’t exist?
If it does exist please post a few clear cut, beyond reproach, non-moonshot examples of such.
And I’m not talking about bird brained assertions such as “did you know that climate Change is sexist?” like our cement headed newbie Minister of E Catherine McKenna suggests (right, because we’ve all got $h!t for brains…). I’m talking actual real issues – in Canada.
So… lets start with a list of organizations that pay Women less because they are Women.
Any time you’re ready…
DELETED
#14 Toronto is for WINNERS not LOSERS and WHINERS on 10.18.17 at 7:17 pm
NAFTA is falling apart as the Trump White House insists on America-first provisions, while Ottawa wants the trade deal to foster gender parity.”
What’s wrong with promoting gender equality to States and Mexico?
Did you know that Canadian women are only paid 65 cents for every male dollar earned, and that 1 in 2 women in Toronto are victims of sexual assault in their lifetimes?
We need Mexico to enforce legislation to criminalize street harassment and misogynistic speech online.
As a feminist and proud teacher from the Toronto District School Board, I will open a non-profit to end violence against women in Mexico by offering an anonymous hotline where Mexican women can complain on their local drug cartels which are the leading cause of violence against women.
I have taught my students that even when outside of Canada, they should confront and attack misogyny, even if it’s a Mexican drug cartel doing an execution of a female rival near the US (Arizona)-Mexico border.
We must stand up against misogyny against Canadian women in Canada. we MUST teach women in Toronto to be strong and to fight misogyny and sexism where ever they travel.
—-
Not sure if literal or sarcastic…Regardless, you think only women get discriminated against? I guess you forgot about minorities and stereotyping too? There is no equality. Life’s not fair. Only the strong survive. This is built in Nature. Humans are no different.
No offence intended, but rather sad when people focus on the passing of so -called celebs,…..moreso when T2 cries for the T.H. lead singer.
Get the priorities straight …..
Another day, another roll-back by Morneau on the whole tax thing. Is anyone keeping score with regard to the terms under which the ‘Tax Reform’ were originally proposed, versus the terms where we are now?
As for the $50 000 cap on earnings from profits retained in a corporation, I think that makes a big difference, especially if the rule references passive earnings on a portfolio of $800k to $1M.
A large number of small businesses were worried that the profits that they were retaining as capital for re-investment in growing their businesses was to be taxed, annually at 73%. This description shows that not to be the case. For small businesses who are looking to expand, or invest in productivity, a $1M retention is enough to get them started on that expansion, either in whole, or as a portion, supplemented with financing.
That’s what retained earnings are supposed to do; they’re not a retirement scheme. The ‘retirement value’ of the business is supposed to come from the sale of the business – as a function of the business’s cash flow. If the value of the corporation is only the money in the safe, then it is a holding company, which by definition has a different risk profile than an active small business – and must be treated differently as a result.
#173 Dissident on 10.19.17 at 10:34 am
The reason men have an issue with “feminism” and “feminists”…
No, the reasons why men have issues with feminists are that:
a) they act as if they are experts on how men think and feel, when they’re not even men
b) they make blanket assumptions and accusations about men, when most men are good people
c) instead of just trying to bring women up in society, they actively try to drag men down
d) they creep into positions in the media, and then actively portray men as buffoons in commercials, tv, movies
e) they make women feel bad about wanting to get married and have kids early in life (where do you think the next generation of people is going to come from?)
f) they blame “the patriarchy” for all their problems, instead of asking how they can help themselves
g) they make up sayings like, “the woman is always right” and “happy wife, happy life” and expect men to just sit back and take it
h) they demand respect, even when they don’t do anything to earn it
i) they cut their hair short
Trust…Turdeau and Moroneau et al.
B.C has a public auto insurer ICBC.
In essence the 1972 Dave Barrett NDP Gov’t monopolized auto insurance and since then there has been a love- hate relationship between BC drivers-citizens with ICBC.
ICBC supporters are rather blind, often claiming that because it exists unchallenged by private sector, it exists on its merits.
HOWEVER, the truth is based on the old saying “fool me once shame on you…etc etc.
What occurred was that because the Gov’t stabbed private insurers in the back once, there is no reason it could not happen again, so no insurer will attempt to challenge ICBC.
IMHO, Turdeau and Morneau seem to exist in a bubble, they have little if any connection to the great unwashed, which is becoming clearer and clearer to even their supporters.
Given their record so far, are these the people WE want
as our elected representatives…or they’ve had their chance…time to clean house.
bad dogs and bonuses
…”before the 2008 crash, AIG was one of the most reckless financial firm in the world and a leading cause of the crash. Indeed, there’s a good case to be made that the crisis and crash would have been less severe, shorter and more manageable if AIG’s actions hadn’t enabled the fraudulent subprime bubble to be supersized: by the end of 2007, AIG had written $527 billion of insurance (called “credit default swaps” or CDS) on collateral default obligations (CDOs) and other subprime mortgage related derivatives and structured products, among other toxic assets. Every time AIG sold a CDS, it enabled other reckless market participants (the buyers of the CDS) to keep packaging, selling and distributing worthless toxic assets because they were able to shift their risk of loss to AIG. This in turn created artificial demand for subprime mortgages, which kept the fee-based originate-to-distribute predatory mortgage mills running long after they should have collapsed. For accepting all this risk, inflating an historic subprime bubble and, ultimately, ruining so many lives, AIG collected billions in fees, virtually all of which dropped into the bonus pool for AIG’s executives because it failed to set aside reserves for this CDS insurance, insanely claiming that it was inconceivable that it could ever lose “one dollar.”
Of course, what really happened was that all these losses were not shifted to AIG, but were shifted to taxpayers and the American public.”…read more @
https://bettermarkets.com/newsroom/special-financial-reform-newsletter-deregulating-aig-historic-mistake-sends-terrible
AIG’s egregious recidivist history, which was detailed by famed author William Cohan in “The Fall of AIG: The Untold Story” (Institutional Investor, April 7, 2010) as well as in Roddy Boyd’s “Fatal Risk” and, more recently, in Jesse Eisinger’s new book “The Chickenshit Club”
@Guido #113:
I clicked that link that you provided about Desmarais’ “Web of Influence”. Lots of stuff about who worked for or with whom, and I agree that there is quite a network there.
I’ll even go so far as to assume that Power Corporation, benefitted from some decisions made by members within that web of influence, and that the Chair was enriched as a result.
But I fail to see anything in that (or other) pieces that describes specific instances where that influence was used to alter the outcome of national or international events, to the detriment of citizens. Though that might be because Desmarais was a progressive thinker, and was against separatism.
But I don’t get the impression that he was like the Koch brothers in the US for example, who use their money to cultivate influence by backing political campaigns and measures with big dollars, in exchange for rolling back considerations on environmental regulations, consumer protections and religious freedoms.
#116 BobC on 10.18.17 at 10:59 pm
“We did. You’ll understand after another few years of T2 and his liberal followers.”
Another few years? Bite your tongue. Two is plenty enough of this agony.
#179 SimplyPut7
Call it conspiracy or whatever, but IMHO what we see unfolding now was planned decades ago…
If one goes back to the Opium Wars…how Hong Kong existence is traced to this…China was set up to take over where the Brits left off…as a colonial superpower.
Mainland China was Communist for barely 20 years when Nixon made diplomatic overtures…Honk Kong was the first wave of foreign capital, followed by Mainland China . Name one other nation (other than the Brits) whose tentacles reach as deeply into global economy AND in such short a time.
I highly doubt this plan was cobbled together on a napkin in a Won Ton restaurant.
#218 – IHCTD9
How could a Woman express disdain at institutional discrimination and sexism in Canada when it doesn’t exist?
If it does exist please post a few clear cut, beyond reproach, non-moonshot examples of such.
— That’s easy. Big firm I worked for as a subcontractor for 8 years. I submitted my invoices. Got paid within 6 days 90% of the time, as I requested. I’m a guy.
— the other 90% of the subcontractors were women. The management of the company simply withheld payments for these women for periods of up to a year, and up $25,000. When the women left, angry, new female graduates in the field replaced them and got ripped off.
— Why did this happen? The women, who complained bitterly to me about this treatment, had been socialized to be “nice” and “not confrontational”, and the management of the company took full advantage of this, saving hundreds of thousands of dollars.
— They never tried that trick on me ONCE, because I was a guy, and they knew what they would get if they tried it.
— People could say, “Couldn’t they all quit at once?” But the fact is that “socialized-to-be-nice” women would walk right into the jobs.
The discrimination was blatant.
I have also spent years in employment & hiring, and there are many studies in which IDENTICAL resumes were sent out with male & female names. And the male names got responded to at a much higher rate.
Discrimination exists, statistically and factually.
#151 Dharma Bum on 10.19.17 at 6:29 am
“Trudeau and Morneau are HYPOCRITES of the worst kind.
They should be ashamed of themselves.
We should be ashamed to have them as representatives of our country.
Those that voted for Trudeau should be especially ashamed of themselves, and repent, by never voting for him again. Ever.
Trudeau and Morneau should do the Walk of Shame.”
No argument there, but that’s what those crafty, Wile E. Coyote voters get with ACME instant brave new gubbmint powder.
#217 crowdedelevatorfartz on 10.19.17 at 2:35 pm
@#185 Dissent
You may be able to regulate what people are allowed to say…..but not what they’re thinking…..
:)
– – – – – – – – – – – – – – – – – – – – – – –
I’ll leave that to the Russians.
chinese money laundering
FOR IMMEDIATE RELEASE
Tuesday, October 17, 2017
Justice Department Announces First Ever Indictments Against Designated Chinese Manufacturers of Deadly Fentanyl and Other Opiate Substances
On Sept. 20, Jian Zhang, 38, of China, five Canadian citizens, two residents of Florida, and a resident of New Jersey were indicted in the District of North Dakota
The Justice Department announced today that federal grand juries in the Southern District of Mississippi and the District of North Dakota returned indictments, unsealed yesterday, against two Chinese nationals and their North American based traffickers and distributors for separate conspiracies to distribute large quantities of fentanyl and fentanyl analogues and other opiate substances in the United States. The Chinese nationals are the first manufacturers and distributors of fentanyl and other opiate substances to be designated as Consolidated Priority Organization Targets (CPOTs). CPOT designations are those who have “command and control” elements of the most prolific international drug trafficking and money laundering organizations.
https://www.justice.gov/opa/pr/justice-department-announces-first-ever-indictments-against-designated-chinese-manufacturers
#219 IHCTD9 on 10.19.17 at 3:05 pm
towards any woman who dares express her disdain at the institutional discrimination and sexism that women encounter for the full course of their lives.
_________________________________________
How could a Woman express disdain at institutional discrimination and sexism in Canada when it doesn’t exist?
If it does exist please post a few clear cut, beyond reproach, non-moonshot examples of such.
And I’m not talking about bird brained assertions such as “did you know that climate Change is sexist?” like our cement headed newbie Minister of E Catherine McKenna suggests (right, because we’ve all got $h!t for brains…). I’m talking actual real issues – in Canada.
So… lets start with a list of organizations that pay Women less because they are Women.
Any time you’re ready…
– – – – – – – – – – – – – – – – – – – – – – – – – – –
Hahaha….hahahahahahahahahahahahahahahaha
Thanks, that was a good laugh.
You. You are my proof.
Hydro One is regulated by the Ontario Energy Board, who allows for rates to be increased or not. So like any natural monopoly, private or publicly-owned, governments set rate increases.
_________________________________________
I doubt it, by the time the sale is fully complete Bill 112 will be in force which will:
Eliminate OEB review of government-approved transmission projects
Allow government to eliminate consumer groups from participating in OEB processes in favour of a government-appointed consumer advocate
Would reverse prohibitions that until now have prohibited comingling of regulated and unregulated businesses.
The Province has already made arrangements to remove Hydro One employees from the Sunshine List, and limited the Auditor General’s oversight and access to Hydro One financials.
Give it a decade after the full sale is complete, and it will be effectively a privately run Monopoly, but with the force of Government and Lawmaking abilities behind it.
If this carries on, and no one puts the kibosh on it – this issue on top of the “debt for discount” scheme Wynne has saddled us with, will create a $h!tstorm of epic proportions come 2023 inside the Ontario electricity Market.
All of this is speculative, but I can guarantee one thing: Prices will be going up.
#230 Hairhead on 10.19.17 at 4:05 pm
________________________________
That was a joke right?
Bravo Maestro!
Excellent summary, Golf Clap, a literary hat-trick!
“The bank cop’s B-20 bomber has just taken off and will be reducing real estate to controlled rubble over the next few years. The US central bank is 80% certain to raise interest rates again by the end of the year, cranking long-term Canadian mortgage rates. Household debt is at another all-time high and 12,000 people just went overboard at Sears Canada. The Canadian economy has been growing well, but employment and wages are stuck. The federal deficit is on track to be 300% larger than we were assured. And the minister of finance is being proven to be a bigger loopholer than the family doctors, dentists and veterinarians he’s hounding.
It’s a rare thing for a finance minister to be booted. But there’s little doubt Bill Morneau is toast. Only the timing and style of his punting remain. The guy has single-handedly transformed the government’s image from street-fighting defenders of the deplorable middle class to entitled trust fund brats picking on people with real jobs. There is no recovery from the French villa. The personal holdcos. The ethics questions. Or the fact your company specializes in tax-avoiding retirement strategies for the highest-paid CEOs, while you’re terrorizing hair salon owners.”
Maxx, Maxx, Maxx, I’m so disapointed with that last post from you. T2 and Morneau are of course hypocrites, whom among us aren’t at one time or another. Self interest is almost impossible to ignore 100% of the time so this example isn’t anywhere near to being “the worst kind”
As for voting for T2, I for one voted for my local MP in an effort to bring change to Ottawa because I detested Harper as a human being. On the upside though with a parliamentary system there is at least a potential to remove an unpopular leader and trigger an election if there is sufficient support across the aisle. I doubt there is that level of support over this stuff though.
However, IMO Morneau and any other minister does have the a duty to resign if they are shown to have breached ethics legislation.
#187 IHCTD9.. I agree.. and once government revenues exceed ~35% of GDP, each marginal increase in the tax rates leads to lower revenues over time.
The great power we have is that we can withhold our labour. Most times this isn’t an intentional or a coordinated response. It is individuals responding to very high taxes, deciding to turn down overtime, take a few weeks more of vacation.. decide its not worth their effort to start an enterprise they had in mind, retiring to a lower tax location, etc.
He is thinking everything is OK.
https://ca.finance.yahoo.com/news/bill-morneau-seeks-ease-tax-080004714.html
After addressing distracting concerns about his french villa/conflict of interest/blind trust he is now ready to serve Canadians.
I am not a religious person but please God, Allah, Buddha, whatever you name is please spare me the intellectual pain of having to listen to this individual, make him disappear please.
Can I sue him for pain and suffering? I have an urge to got to the washroom every time I hear him and T2.
It is not pretty.
#230 Hairhead on 10.19.17 at 4:05 pm
————————-
Your example does not prove women get paid less than men which is what is being asked. If true, which I highly doubt, just shows bad discrimination of timely paying of sub-contractors, a couple which may have been female which complained to you. But by all means believe what you like given you haven’t outed the company name for fact checking.
#236 – That was a joke, right?
— Not a joke at all. Look, I agree with a lot of what you say about living cheap, living in a way which gives less tax to the government — when you deny there is a problem and dismiss hard evidence of the problem you present yourself a non-evidence-based person. In order words, a [word which for reasons of politeness and Garth’s blog policies].
Your response shows you are a person undeserving of any considered response.
Their approach to give you incentive to work is to indebt you.
The problem is that they indebt the stupid.
So they can not make the smart work more and now they are coming after them, the smart with more taxes, thinking that taxing you more will make you work more.
The canadian elite.
@#232 Dissent
“I’ll leave that to the Russians….”
++++++
” Russia? Where have YOU been the last 10 years? Siberia?
Listen to any Human Resources milksop drool out the latest pc porridge.
Not to mention all the politically correct social justice warriors that infest every level of the media, schools, govt , etc.
” That’s SOOOO PC incorrect. You shouldn’t think like that! Rethink your antifeminist misogynistic ways and be a good person.
Margret Atwood should write a new 2017 novel that more gender appropriate…….
The Manmaidens Tale…..
(CNN)New Zealand is to get its youngest-ever female
– NZ First and the Greens — with whom a coalition could be formed to deliver the party’s vision for the country.
Prime Minister after a minority party threw its support behind Labour leader Jacinda Ardern, who took over the left-wing party only three months ago.
Winston Peters, the leader of the anti-immigration NZ First party, announced in a live TV broadcast that he would support Ardern in a coalition government, after September’s election returned a hung parliament.
Ardern, 37,
Ardern struck out against the media for focusing on her looks and questioning her about her ability to juggle the job with any potential future children — criticized by commentators as a sexist double standard that would not be applied to men.
DELETED
To IHetc and n1tro.
When you’re not getting paid at all ($0), that’s being paid less than a man for the same job. When you’re not hired or even interviewed because you are a woman, you’re getting $0 — which is a lot less than the man who was hired.
And straight up calling me a liar shows the complete poverty of your position and the utter lack of thought.
And it wasn’t “a couple” of women. It was over a dozen.
First calling me a liar, then misrepresenting what I say — yeah, you’re a class act.
https://www.french-property.com/f/p/nv/pts/15/
French villas and châteaux are a dime a dozen – believe me!
…much more damning ( and lucrative) if M. Morneau had a couple of houses on Point Grey Road…in Vancouver!
As for the rest of his financial dealings – what planet are you living on?? – extremely wealthy people usually get excellent legal advice as to how to manage their money…….these folk don’t need to be seen as crooks and certainly not the finance minister! I think he’ll be just fine………..
#242 Hairhead on 10.19.17 at 5:08 pm
#236 – That was a joke, right?
— Not a joke at all. Look, I agree with a lot of what you say about living cheap, living in a way which gives less tax to the government — when you deny there is a problem and dismiss hard evidence of the problem you present yourself a non-evidence-based person. In order words, a [word which for reasons of politeness and Garth’s blog policies].
\\\\\\\\\\\\\\\
were you going to say ‘moron’?
#179 SimplyPut7 on 10.19.17 at 11:07 am
“I never understood the appeal of real estate in Canada to wealthy domestic or foreign investors (people in Toronto/Vancouver who are in a lot of debt and own overvalued million dollar houses don’t count as wealthy).”
-It’s an area with a large population base, stable government, low crime and clean air.
People who invested in GTA real estate of made a killing…yet you cannot understand why “wealthy” people would want in?
Spare me on the whole crash thing. Isn’t happening. I’ve realized it and now it’s time for everyone else as well.
MF
Now this is good.
https://youtu.be/ewTyltKvB2Q
read about this guy!
How did Arron Banks afford Brexit?
Alastair Sloan and Iain Campbell 19 October 2017
https://www.opendemocracy.net/uk/brexitinc/adam-ramsay/how-did-arron-banks-afford-brexit
The self-styled ‘bad boy’ who bankrolled the Leave campaign appears to have exaggerated his wealth. So how did he pay for his Brexit spree?
“Over the past four months, openDemocracy has conducted an in-depth review of Bank’s business dealings since he first started out in business in the early 2000s. As well as his own public statements about the sources of his wealth, we have spoken to his former employers, and obtained and reviewed court documents. There are of course a number of perfectly innocent ways that Banks could have obtained the extra funds, but given Banks’ significance to British politics, what have found so far is extremely troubling.”
#238 LivinLarge on 10.19.17 at 4:34 pm
“Maxx, Maxx, Maxx, I’m so disapointed with that last post from you.”
I don’t wake up in the morning hoping to get your approval. The post remains unchanged.
Re: #227 Smartalox on 10.19.17 at 3:44 pm
@Guido #113:
My rebuttal: $83 million in cocaine on Paul Jr.’s ship.
One blurb in the newspaper and that was it. No follow-up by anyone. Doesn’t that affect the citizenry. Also his flying a foreign flag as our PM, though not illegal, to me is treasonous. And it’s just not the taxes that he dodged with that move.
Now why is there no follow-up? One person can stop a gov’t from going to war, albeit a TRUMPED-UP war in Iraq, what other influence do you think he had. He pulled all these strings while ensconced in France.
There’s many ways to write (or not let be written) when you have that kind of power.
In my years I have read many articles showing the manipulations of these men and wish I had saved them.
I will try my best not to let the rosy picture of Power Financial et al escape the truth….
Now back to work.
#227 Smartalox on 10.19.17 at 3:44 pm
@Guido #113:
Where’s wikileaks Mr. Assange when you need him. Maybe he is reading Garth and will help mine this gem.
“Remember this day”
We have a responsibility to remember how Morneau targeted yoga studios.
We have a responsibility to remember how Morneau treated hard working doctors.
We have a responsibility to remember how he looked in to the camera with his best trust fund baby smile explained the concept of “fairness” to the Canadian public. Dividing both hard working employees and self employed.
We have a responsibility to remember how Mr Morneau did all this knowing full well he would personally benefit from these actions.
In 2019 do not forget.
Mr Morneau TRUSTS you will forgive and FORGET…….
#227 Smartalox on 10.19.17 at 3:44 pm
@Guido #113:
I clicked that link that you provided about Desmarais’ “Web of Influence”. Lots of stuff about who worked for or with whom, and I agree that there is quite a network there.
I’ll even go so far as to assume that Power Corporation, benefitted from some decisions made by members within that web of influence, and that the Chair was enriched as a result.
But I fail to see anything in that (or other) pieces that describes specific instances where that influence was used to alter the outcome of national or international events, to the detriment of citizens. Though that might be because Desmarais was a progressive thinker, and was against separatism.
But I don’t get the impression that he was like the Koch brothers in the US for example, who use their money to cultivate influence by backing political campaigns and measures with big dollars, in exchange for rolling back considerations on environmental regulations, consumer protections and religious freedoms.
*********************
you don’t get the impression…what is your impression based on?
#232 Dissident on 10.19.17 at 4:09 pm
#217 crowdedelevatorfartz on 10.19.17 at 2:35 pm
@#185 Dissent
You may be able to regulate what people are allowed to say…..but not what they’re thinking…..
:)
– – – – – – – – – – – – – – – – – – – – – – –
I’ll leave that to the Russians.
*******************
Russians this…Russians that- How about worrying about your own government and how they like to divided and conquer???
#249 Islander on 10.19.17 at 5:47 pm
https://www.french-property.com/f/p/nv/pts/15/
French villas and châteaux are a dime a dozen – believe me!
…much more damning ( and lucrative) if M. Morneau had a couple of houses on Point Grey Road…in Vancouver!
As for the rest of his financial dealings – what planet are you living on?? – extremely wealthy people usually get excellent legal advice as to how to manage their money…….these folk don’t need to be seen as crooks and certainly not the finance minister! I think he’ll be just fine………..
*****************************
WTF – SPIN ALERT. HE WAS WRONG< UNETHICAL