No pants

When the US real estate blew up a bunch of the blame was heaped upon lax lenders and, of course, their idiot clients. Lots of people borrowed more than they could ever repay, banking on ever-higher house prices to save their butts and make them rich. It worked for a while. Then disaster.

One fav was the IO mortgage. By making interest-only payments, reducing the actual debt by nothing, people could buy more house and stomach the monthly. Of course, if property values went down (which happened – American real estate declined an average of 32%), they were toast. As a result, these kind of loans are largely extinct.

In Australia, same deal. Soaring real estate costs and a unique down-under form of house horniness encouraged scads of people to take out IO loans which (by law) have to roll over into regular ones (principal payments required) in three years. This year a massive $360 billion in such loans will roll, jacking ownership costs and leading to more downward pressure on prices. (Ozzie RE is a mess.)

Well, we now have an IO mortgage here in the land of maple, where mighty condos grow. It’s the creation of Merix Financial, a company that likes lending to people with dinged credit, unstable jobs (like bloggers) plus speckers and flippers. A few days ago it unveiled a product that will finance real estate with loans of up to $2 million, complete with 30-year amortizations and no-pants payments for mortgages of 65% of less of the property’s value.

Of course, you make monthly payments but never pay the loan off. So, if the property loses value (as is happening in most places), it’s easy to end up owing more than the place is worth, even after making years’ worth of payments. Plus, it’s a demand loan. If (say) Trump invades Hamilton and tells T2 to get stuffed, precipitating an economic crisis, the lender could tell you to pony up. Do it, or lose the house.

But the benefit is obvious. Cheap payments. If you’re not retiring the loan, but merely servicing it, the monthly is lower – even if the IO interest rate is higher. So, who would be attracted to such a thing?

The likely clients are: (a) people who want to buy houses they can’t afford. For them the 30-year am plus the no-repayment feature means they can carry a loan for less – hundreds of dollars less a month. (b) Investors acquiring rental properties with the ability to deduct interest charges from gross revenues for tax purposes. (c) Speckers, flippers and renovictors who want cheap financing and know they’ll be dumping the real estate in a short time. (d) Those who would rather use the extra cash to feed their investment portfolios than plow it into more real estate equity, for no return. (d) Folks with unpredictable incomes (like realtors) who want the ability to throw money at a mortgage when they have it, but otherwise just scrape by.

So, is this a good thing? Or evil?

Depends, naturally. Interest-only loans certainly have a place and a purpose, allowing you to rent a pile of money while keeping costs low. This works best for investing, when the cash can be shoveled into income-producing assets and 100% of the carrying costs are deductible from taxable income. That’s the big idea behind HELOCs – home equity lines of credit – which allow those who have too much of their net worth in real estate to suck a bunch off and put it into things that will grow (like ETFs). On the other hand, when the borrowed money is spent (not invested) the interest must be paid with after-dollar dollars, and the debt remains.

Given our stupid real estate values, strained household finances and the horrible state of moister finances, it’s likely Merix is really targeting house-lusty couple who couldn’t afford to sate their inflated housing expectations with a normal loan. Yes, they still have to pee in a cup and pass the stress test, but the lower monthly payment allows a much bigger borrowed amount. In fact, Merix may just have found a way around B20, right?

By the way, the odds of higher mortgage costs in two weeks shot up again yesterday. They now stand at 70% after the Bank of Canada’s Stephen Poloz told reporters rates will climb despite Donald Trump’s one-man trade war because the economy’s heating and inflation mounting. “We’ve said clearly that, given where the economy is, we’re in a situation where the economy will warrant higher interest rates,” said Poloz. That seems straight-up.

The decision arrives July 11th. This will be the fourth increase in 12 months. The Fed has moved six times in 18 months. There’s much more to come. Which is why we now have interest-only mortgages. But perfectly safe, like weed.

138 comments ↓

#1 Stan Brooks on 06.28.18 at 5:35 pm

That was predictable.

Soon we will see interest only 100 years mortgages.
I am sure CHMC will be more than willing to insure it.

Stuuuuuuuuuuuuupid sheeeeeeeeeeeeeeeple.

#2 Willy H on 06.28.18 at 5:38 pm

Yes, they still have to pee in a cup and pass the stress test, but the lower monthly payment allows a much bigger borrowed amount. In fact, Merix may just have found a way around B20, right?
___ ___ ___ ___

I wondered how long it would take to circumnavigate B20.

Breathtakingly stupid finance option for most folks in my opinion.

#3 Stan Brooks on 06.28.18 at 5:39 pm

http://www.merixfinancial.com/about/our-company/

Over 29 billion in funded mortgages for over 200 00 Canadians.

Where is their financing coming from? The said 29 billions?

#4 jermike on 06.28.18 at 5:41 pm

first by a mile

#5 Shawn Allen on 06.28.18 at 5:44 pm

Interest-Only means infinite Amortization?

“Well, we now have an IO mortgage here in the land of maple, where mighty condos grow. It’s the creation of Merix Financial, a company that likes lending to people with dinged credit, unstable jobs (like bloggers) plus speckers and flippers. A few days ago it unveiled a product that will finance real estate with loans of up to $2 million, complete with 30-year amortizations and no-pants payments for mortgages of 65% of less of the property’s value.”

*********************************
If a loan is interest-only the amortization period is infinite? Or is interest-only for just a few years?

All mortgages have a maximum term of 5 years, under the Canada Interest Act. – Garth

#6 Dead Cat Bounce on 06.28.18 at 5:45 pm

Please
Only
Less
Or
Zero

Poloz wouldn’t raise nothing ! That’s his orders

#7 crossbordershopper on 06.28.18 at 5:49 pm

business use these all the time, revolving line of credit, low interest rate. consumers do as well called a credit card. same issues, the card company can take or reduce your limit anytime, you pay the minimum which is effectively interest only. so these programs have been around for over 50 years.
the low rate for real estate with nothing down, interest only has its merits if your between buying and selling properties, borrowing against a property sells, to buy a nother one , a bridge per say.
you should be talking about pay day loans and pawn shops which is true preditory business, having some guy pay interest only on a property, sure it can go down 10 or 20 percent but were not talking about some people i know who work for fees and interest and rent and gas and food only, they might as well quite, the wheel stops but at least they have no stress, either way its all a game this stupid life of working for nothing. and millions of people do it.

#8 crowdedelevatorfartz on 06.28.18 at 5:56 pm

Careful Garth

Blacksheep doesn’t want to hear negative predictions ( or verifiable facts ) about the Real Estate market in BC’s Lowerbrainland.
Uppa uppa uppa always uppa.

#9 Jeff on 06.28.18 at 5:57 pm

First!!!!!

#10 Arun on 06.28.18 at 6:00 pm

Thank you for your coverage on australian real estate..people are still in denial here because we are different!!!! I think its almost pop corn time here in Australia…

#11 conan on 06.28.18 at 6:10 pm

If (say) Trump invades Hamilton and ……. -Garth

That was last month’s plan. The latest is attack Alberta first, the Vichy Cons dwell there. Second, Nova Scotia and Trump Island errr Oak Island. Third, St Pierre and Miquelon, cause Macron, nuff said.

Navel blockade and Canada is theirs….

#12 n1tro on 06.28.18 at 6:19 pm

I shorted oil today at $73.46. Who’s with me?

Going to try holding tight on the way down. Got out way too early last month when I went long at $63.xx

#13 492 on 06.28.18 at 6:21 pm

That’s how much 1188 Bracknell Cres in N. Van dropped in price over a few weeks – from a list price of $2.340M to a sale price of $1.848M.

Expectations are adjusting and new lows are setting in as some run for the exits. My call remains a 50% downer on SFDs in Vancouver. This sale indicates that things are well on target. As I have always maintained, we simply cannot afford $2M homes. $1M is much more realistic for what we earn.

https://www.zolo.ca/north-vancouver-real-estate/1188-bracknell-crescent

#14 Smartalox on 06.28.18 at 6:22 pm

Buy a home using what is effectively a HELOC.

it’s the ‘Merixan way!

Where does the money come from? Well, after yesterday’s announcement about money laundering in BC Casinos, some (not all) Laundromats are no longer churning like they once were.

The ‘Lenders’ in those stories probably have to find new ways of spreading that money around!

#15 robert james on 06.28.18 at 6:23 pm

Trump brings the worst out in everyone.. Brawl at Gay pride.. https://forums.castanet.net/viewtopic.php?f=28&t=78765#p2362960

#16 Laws Don't Apply in British Columbia when Liberals Rule on 06.28.18 at 6:30 pm

New Parq Casino is an outrageous land deal—public assets leased way below market to a 2-bit US casino player, then millions in construction subsidies. After BC Lib fundraiser & BCLC chair Mr. R.T. bought shares.

#17 Shawn Allen on 06.28.18 at 6:31 pm

Maximum 5 year term…

All mortgages have a maximum term of 5 years, under the Canada Interest Act. – Garth

************************************
I think it was established on this blog years ago that all mortgages must become open for repayment without penalty at the option of the borrower at five years or less.

But I believe ten year locked in mortgages allow the borrower the option to keep going for ten years or to pay it off anytime after 5 years. (Otherwise what would a ten year term mean?)

These interest only mortgages I imagine come fully due, perhaps after 5 years. I just wondered in what sense it was a 30 year amortization. Interest-only implies non-amortizing.

#18 MF on 06.28.18 at 6:33 pm

Now would be a good time to be able to LOWER rates in case the economy takes a hit from this possible trade war.

Oh yeah..we can’t because we are still zero bound.

The Bank of Canada has been caught with his pants down. Rates should have risen years ago to provide a cushion (along with deflate the debt bubble).

MF

#19 BC Liberals - Families Last - Corruption First on 06.28.18 at 6:36 pm

How did the BCLC board chair chair buy shares in Paragon while sitting on the board?

Which then bought Edgewater Casino out of bankruptcy.

Then got major govt contract. Then BCLC CEO takes job w same co.

I can’t wait for that public inquiry.

#20 House Lust Advice on 06.28.18 at 6:43 pm

I come for advice,
My wife and live in Vancouver, Both 60 with Defined Benefit Plans. (total, 90K annual) We bought a condo two years ago for $400K, (276K mortgage @2.4% matures three years,) Now worth $650K! Yep just went up 50K from last year! One sold last week in one day not even listed! Location, location!

We have about $200K in TFSA, $130K in RRSP, and $200K in Investments. So been thinking sell the 30 year old condo and move out to Abbotsford for a brand new place and pocket $150K.

Emotions are…. we love were we live Hike in the mountains, walk by the ocean, walk to the stores, walk everywhere.

Logic says sell and hide in Mexico. I am shocked how many Canadians move and only 15% flat tax rate and fantastic medical care, 3 day wait for an MRI, oh well another Blog post!

so now we are compromising Maybe Abbotsford or Penticton, which is still cheaper ? I will admit I am worried about a major downturn in Canadian housing and stock market.
What Would you do? Love it or list it.

#21 Tony on 06.28.18 at 6:45 pm

Re: #6 Dead Cat Bounce on 06.28.18 at 5:45 pm

Trump will slap Canada silly with tariffs if Poloz doesn’t increase interest rates. It would be a sign of bad faith purposely trying to devalue the Canadian currency at the worse possible time by the Bank of Canada.

#22 Amort on 06.28.18 at 6:47 pm

Once a mortgage is IO, it is meaningless to speak of an amortization period.

The interest is not simple. – Garth

#23 Capt. Serious on 06.28.18 at 6:47 pm

With Trump importing inflation through tariffs, it seems likely interest rate increases are going to continue even if the labor market weakens a bit. Good times.

#24 Smoking Man on 06.28.18 at 6:49 pm

Now the lunatics are gunning down reporters.
The polarization of the left and right needs to be toned down Now!!!

The evidence is that mass shooters are usually personally motivated, not politically. – Garth

#25 Lost...but not leased on 06.28.18 at 6:49 pm

Merix???

Seems more like an indicator(like we need any more evidence) that the RE market is hitting the crapper and more predatory lending is forthcoming.

Why else would a lender like Merix enter the fray unless it saw more meat on the bone to pillage?

#26 Ace Goodheart on 06.28.18 at 6:50 pm

Here’s an interesting case study:

https://www.huffingtonpost.ca/2018/06/27/corus-entertainment-global-tv-owner-to-cut-specialty-channels-after-posting-big-loss_a_23469711/

Looks rather bad. They lost $939.5 million, almost a billion dollars, and cut their dividend by 80%.

Lost cause?

But have a look at the way the loss was generated.

They took 1.01 billion in “non cash impairment charges” to their “goodwill”.

This, of course, is a billion dollar tax deduction. Combined with a way of getting out of paying a steep dividend.

These guys just cleaned up their balance sheet, grabbed a large tax break and got rid of a bunch of debt.

In reality, they actually earned 37 cents per share, which is an increase of 2 cents from the last earnings report which was 35 cents per share.

This is a company worth digging into.

#27 Sam on 06.28.18 at 6:51 pm

House prices are still sky high and houses are selling. No one is taking a hit (other than the one or two that made headlines). Everyone I know has made money in RE and lots of it. Plus they own a house. No more stress trying to buy in. And the markets keep going up then down. Even diversified ones. And if I cash in it’s taxed! I should’ve bought RE. I still will buy even at high prices. Tired of these blogs and realtor.ca. It’s kept me on the sidelines too long and I missed out.

#28 Nonplused on 06.28.18 at 6:52 pm

It’s kind of interesting how the need to maximize profits, especially in the financial sector, always leads to insolvency. The pressure to find new products, make new deals, and keep the wheels spinning ever faster drives it.

But it must be some sort of natural law because organisms do the same thing when not properly checked by predation. The population always grows until the ecosystem collapses. So maybe it’s perfectly natural.

If so, banks must lend until they can lend no more and then collapse, only to be replaced by new banks and the cycle repeats.

Oh well, Merix will probably show big paper profits for a few years and issue $10,000,000 bonuses to the CEO which won’t be recovered in bankruptcy, so everything will go according to plan. Don’t buy any debt or equity from them though. You’ll be left holding the bag.

#29 fishman on 06.28.18 at 6:54 pm

pee in a cup : Garth

The expression “so poor you don’t have a pot to piss in” comes from the old days in England. Poor people had a pot to save pee because they sold their pee. They sold it to Tanners who needed the uric acid for tanning hides.

Too much information. – Garth

#30 Re: House Lust on 06.28.18 at 7:09 pm

Penticton or Abbotsford?

You really do know a thing or two about location, location.

Why not add Compton to that mix.

Watch out for discarded needles all over the place in those areas while dodging drive-by shootings and you definitely do not want to be stopping at red lights in the after hours.

#31 Dan Cordier on 06.28.18 at 7:14 pm

Stan Brooks

MMOI, Merix Moron Only Investors. Glad I’m not part of that crappy investment.

The $29 billion will probably be 30% to 40% less in a few years.

#32 Bob Dog on 06.28.18 at 7:14 pm

Why does everyone think an increase in housing costs equate to increase in value? In reality, if family income is unchanged, increased housing costs just means a lowered standard of living for you loser children.

Have y’all heard the term “Stupid Whitey”?

#33 crowdedelevatorfartz on 06.28.18 at 7:18 pm

@#13 492
“Expectations are adjusting and new lows are setting in as some run for the exits. My call remains a 50% downer on SFDs in Vancouver. This sale indicates that things are well on target.”
++++

Now now now.
Don’t be such a Debbie Downer.
Blacksheep has his daughters future to consider.
Never mind that this blog has warned for years about putting all one’s investment eggs in one basket.

The Real estate sheeple dont want to hear negative news about their “investment”.
Repeat after me greaterfools.

“Uppa uppa uppa. Real Estate always goes uppa”.

happy Housing CRASH everyone.

#34 Dave S on 06.28.18 at 7:23 pm

Many people believe retaliation to Trump tariffs is the way to go. They are not likely aware as to the consequences of such actions. Tariffs have historically been used to protect industries from massive low-cost economies such as China. In comparison, he US’ economy is ten times bigger than Canada’s. To think that we can make an impact is foolish.

Trump’s NAFTA developments from the start show that US negotiators had reassured Canadians that Mexico was the problem and Canada should not be too concerned. What has happened since then? Trudeau, whose popularity has been sagging lately, calculated that back-stabbing Trump after the G7 meeting would prove popular. As intended, his words after the G7 meeting forced Trump to propose new tariffs against Canada’s auto, metal, and oil sectors. This is a foolish trade.

Additionally, Trudeau knows what is required to make progress with NAFTA: he must dismantle legacies such as the Canadian dairy and poultry marketing boards, but this would cost the Liberal party many Quebec seats. He is deliberately obfuscating attention, along with the help of the likes of CBC, of the details of NAFTA negotiations by introducing the diversion of ‘gender issues,’ to which the US negotiators have little attention for. Subsequently, Trudeau is gambling our economic health with very foolish cards just like his father did.

This shouldn’t see this all as a bad thing. There used to be a time when your television, washer, dryer, and most of the appliances were made in Canada. Each were a higher-quality spend, and not disposable like today. If any of them broke down, it was way cheaper to pay someone to fix them then to replace; jobs to repair them in Canada. The days of filled e-waste depots of old Chinese exports could someday be behind us.

#35 Linda on 06.28.18 at 7:27 pm

If housing prices are indeed dropping & interest rates increasing it seems to me that IO loans are a disaster. If people were able to exercise financial control or acumen they surely would not be in the indebted state they are now. All this ‘new’ product will do is allow folks to continue to spend money they do not have to acquire something they want. Whether satisfying that want is a wise decision is another matter entirely.

#36 For those about to flop... on 06.28.18 at 7:28 pm

CONFIRMED PINK SNOW

Well, a person calling themselves Dirty Shyster helped me report this one in real time.

I have to take a risk letting someone else verify the numbers in front of everyone for transparency, but out of hundreds of cases only a handful have not matched and sometimes deals get broken.

The numbers match up for this one and a few others and so thanks to Dirty Shyster and it’s a great pity you didn’t continue to assist me.

A person called It Burns also made sure I had seen it and has helped me a couple of times.Thanks.

Let’s have a look at the result.

The details…

2891 Pandora St,Vancouver

Paid 1.39 January 2016

Sold 1.30 March 2018

So basically a 12% loss up to 16% if you want to add a little for opportunities lost.

Loss zone roughly falls between 150-200k

They opened Pandora’s box…

M44BC

———————————

Sold on March 17 2018 for 1.30 D.S

It burns pm
Another one for your flop file in case you haven’t seen it.

Originally listed to 1.599 now down to 1.398 what they paid for back in 2016.

2891 Pandora Street, Vancouver paid 1.39 asking 1.39

https://www.bcassessment.ca/Property/Info/QTAwMDAwMlFZVQ==

https://www.zolo.ca/vancouver-real-estate/2891-pandora-street

$$$$$$$$$$$$$$$$$$$$$$$$$$$$

Feel free to make a donation.

Flop For Fox Fund…

http://www.terryfox.org/get-involved/ways-to-give/

#37 Chaddywack on 06.28.18 at 7:35 pm

IO….reminds me of a conversation I had with an employee of a local Vancouver-area credit union, which shall remain anonymous.

I got a $10k LOC and he said to me:

“All we ask for is interest only, most people who take out these LOCs just max them out and only pay the interest.”

“They see the interest as just the price of having a good life!”

This was in 2009 btw…..I can only wonder what people think now!

#38 MF on 06.28.18 at 7:46 pm

#29 fishman on 06.28.18 at 6:54 pm

“Too much information. – Garth”

-What’s your verdict on this one Crowdedelevatorfartz?

MF

#39 Long-Time Lurker on 06.28.18 at 7:49 pm

So interest only loan = sub-prime mortgage? What could go wrong?

#40 Long-Time Lurker on 06.28.18 at 7:54 pm

That’s quite the building you have there, Garth. Nicely done.

#41 Happy Housing Crash Everyone! on 06.28.18 at 7:57 pm

#27 Sam on 06.28.18 at 6:51 pm
House prices are still sky high and houses are selling. No one is taking a hit (other than the one or two that made headlines). Everyone I know has made money in RE and lots of it. Plus they own a house. No more stress trying to buy in. And the markets keep going up then down. Even diversified ones. And if I cash in it’s taxed! I should’ve bought RE. I still will buy even at high prices. Tired of these blogs and realtor.ca. It’s kept me on the sidelines too long and I missed out.
—————————————————————-

Stop telling stories. Sales have CRASHED hard and the numbers show it. Nothing will continue to sell. Sorry!

#42 Dolce Vita on 06.28.18 at 7:59 pm

IO loans from what I could find for Canada were structured as either:

-5/20 = 1st 5 years IO, payment is then increased to fully payoff the loan balance over the remaining 20 years.

-10/15 = same as above, replace 5 with 10, 20 with 15.

Nothing on Merix site about 30 yr IO mortgages nor anything about the IO period – they want you to contact a Mortgage Broker instead.

From my POV, IO Mortgages kick the can down the road but yes, cheap monthly payments at the outset.

4%, 25 yr. amortization, payment/month & total interest paid:

Conventional Mortgage
PMT = $526
INT = $57,806

IO Mortgage [5/20]
PMT = $331 first 5 years, $604 last 20 years.
INT = $64,854

IO Mortgage [10/15]
PMT = $331 first 10 years, $738 last 15 years
INT = $72,518
_______________________

Captain Obvious/No Dung Sherlock: cheap for short term mortgage cash needs.

Good if you believe you will be making a lot more money in 5 to 10 years time but cannot afford a mortgage now or, you want more home and don’t mind

“death by a thousand cuts” later on

when the IO period is over (then again, as I was once corrected by a colleague many, many years ago: “They can only shoot you dead once.” – so true).

#43 For those about to flop... on 06.28.18 at 8:08 pm

CONFIRMED PINK SNOW

This house in West Vancouver has finally been confirmed and Widening Gyre helped me report it in real time.

The details…

Paid 4.32 July 2016

Sold 4.39 February 2018

And so at first glance the numbers don’t look too bad ,but this is the big leagues and any minor mistakes get punished.

Just for the remainder of expenses 3.5% loss and if you add in a couple percent for opportunities lost then it is obviously 5.5%

The loss zone lands between 150-250k

They tried to limit the damage but ended up Millstream without a paddle…

M44BC

Sold on February 1 2018 for 4.39 Widening Gyre

1046 MILLSTREAM RD WEST VANCOUVER paid 4.32 July 2016

Jan 25:$4,880,000
May 4: $4,780,000
Change: – 100000.00 -2%

https://www.zolo.ca/west-vancouver-real-estate/1046-millstream-road

https://www.bcassessment.ca/Property/Info/QTAwMDAyOUJLOQ==

$$$$$$$$$$$$$$$$$$$$$$$$$$$$

Feel free to make a donation.

Flop For Fox Fund…

http://www.terryfox.org/get-involved/ways-to-give/

#44 Boombust on 06.28.18 at 8:14 pm

#28, Ace Goodheart

They’re the biggest RE shills out there, too. Just ask anyone here in the Vancouver area.

#45 Lost...but not leased on 06.28.18 at 8:14 pm

DELETED

#46 Mr. White on 06.28.18 at 8:21 pm

It’s time for The Greater Fool to stop blaming Trump for Trudeau Lite being a worthless negotiator.

It is also time to tell the readers about the depreciating asset they own in a house, and that the only long term value in real estate is the land itself.

Use small words, too many of your readers can’t seem to understand what you are telling them as it is.

#47 Angus on 06.28.18 at 8:30 pm

Great story, my Irish ancesters from Donegal moved to the getto of Glasgow in 1829 and set up a business collecting piss to sell to manufactures of gun powder.
Paid for their extended family’s passage PEI to within a year

#48 Spectacle on 06.28.18 at 8:30 pm

” But perfectly safe, like weed. ”

Exactly, welcome to the future we wrought!

Acute Marijuana-Induced Psychosis May Predict Future Illness | Psychology Today
https://www.psychologytoday.com › blog

#49 Smelly on 06.28.18 at 8:34 pm

China is about to start a currency war. China is done with the trade war, they are going for the end game, currency wars.

Going to be fun!

#50 The Banking Rules are Working on 06.28.18 at 8:52 pm

I have tried to weasel my way through the new rules like all other rules that have been brought in and easily circumvented and poked holes through.

Now? Can’t. Flat out rejected. Borrowing capacity with top rated credit has shot down 220K this year in BC on my stable income that has not changed.

So, for the first time in 10 years of testing the lending parameters every quarter I can now say rules that are now in effect are shrinking credit capacity, therefore, shrinking purchasing power, therefore, causing the current slow down being experienced.

Just like how they pumped the market up they are now cooling it behind the scenes.

And you are witnessing those consequences live in the real estate cooling off.

Always has been and always will be rigged and structured by banks behind the scenes.

#51 For those about to flop... on 06.28.18 at 8:52 pm

CONFIRMED PINK SNOW

Only a light dusting of Pink Snow but it was another one Dirty Shyster helped me out with and I don’t want to do them a disservice by not following through.

The details…

2219 Dublin St,New Westminster.

Paid 1.07 March 2016

Sold 1.10 March 2018

Just like the last guys they got a little more than purchase but those pesky expenses keep interfering with people’s profits.

2.5% loss and up and so the loss zone lands somewhere between 30-50k

Probably not the best idea the realtor came up with to have a St.Patricks Day Sale…

M44BC

Sold late March. for 1.1 Dirty Shysters

2219 Dublin Street, New Westminster paid 1.07 March 2016 ass1.07 1.15

May 4:$1,225,000
Aug 9: $1,188,000
Change: – 37000.00 -3%

https://www.zolo.ca/new-westminster-real-estate/2219-dublin-street

https://www.bcassessment.ca/Property/Info/QTAwMDAzVVdDRQ==

#52 Brian Ripley on 06.28.18 at 8:53 pm

“We’ve said clearly that, given where the economy is, we’re in a situation where the economy will warrant higher interest rates” said Poloz

Add to the above a rally in the USD that will increase consumer costs.
See charts http://www.chpc.biz/history-readings/cad-low

Over leveraged real estate in weak hands may not want to keep holding. The summer could be over.

#53 No Pants on 06.28.18 at 8:59 pm

Just love the timing with this title. T2 just made the recent statement that is not the business of government to tell any woman what to wear. I assume he just made an official endorsement that anything goes under his leadership.

#54 JT on 06.28.18 at 9:02 pm

In Japan on holiday, speaking to a taxi driver in Kyoto about Canadian housing prices and pot legalization, his comment, directly translated, “Both of those things will not end well.”

#55 Reynolds531 on 06.28.18 at 9:06 pm

#22

If you’re paying off the interest every month, how exactly does it compound? It is simple.

#56 Smoking Man on 06.28.18 at 9:08 pm

24 Smoking Man on 06.28.18 at 6:49 pm
Now the lunatics are gunning down reporters.
The polarization of the left and right needs to be toned down Now!!!

The evidence is that mass shooters are usually personally motivated, not politically. – Garth
…….
Looks like you are correct. Guy was in a law suit with the paper. Ok back to bashing lefties

#57 Discontent City on 06.28.18 at 9:10 pm

Drove past campers paradisio today in downtown Nanaimo only to observe 1) it’s grown about 30% in one week and 2) there was a Cadillac CTS parked in the midst. Now for those of you that don’t know, that’s a $50K vehicle. I drive a 2004 $5K vehicle and am worth over $2M. That would imply the discontent are now worth $20M. Lol.

https://goo.gl/briQKA

#58 Charles on 06.28.18 at 9:16 pm

So Garth what’s the link to Merix Financial, you totally should have signed a referall agreement before posting…. or did you???

Um, that was not exactly an endorsement. – Garth

#59 LP on 06.28.18 at 9:17 pm

#20 House Lust Advice on 06.28.18 at 6:43 pm

If you love where you live, do what my husband and I did…sell under a leaseback arrangement. You get the sales proceeds out of the house to invest and with a great financial advisor (you could do no better than our blog host) you’ll probably realize an income sufficient to pay whatever rent your buyer will want and you get to stay in the community you enjoy.

#60 LP on 06.28.18 at 9:22 pm

#29 fishman on 06.28.18 at 6:54 pm
pee in a cup : Garth

Too much information. – Garth

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

Yeah, but now I can go to bed since I finally learned something new today.

#61 WUL on 06.28.18 at 9:29 pm

The comment section here is a Godsend. I am now able to avoid a hardscrabble retirement.

Based upon the amount of beer I drink, I’m opening a tannery.

A “just in time” supply management system. Hic,

#62 Slowly Boiling Frogs on 06.28.18 at 9:34 pm

Fed Quantitative Tightening versus ECB Quantitative Easing

Central bank deleveraging will raise global interest rates no matter what happens in Canada.

I know that 1 U.S. dollar does not equal 1 Euro, but they are close enough for the following:

June, 2018
U.S. Federal Reserve -$30 Billion Dollars
European Central Bank + $30 Billion Euros
Net is zero

July, 2018
U.S. Federal Reserve -$40 Billion Dollars
European Central Bank + $30 Billion Euros
Net is minus $10 Billion dollars in the global economy

August, 2018
U.S. Federal Reserve -$40 Billion Dollars
European Central Bank + $30 Billion Euros
Net is minus $10 Billion dollars in the global economy

September, 2018
U.S. Federal Reserve -$40 Billion Dollars
European Central Bank + $15 Billion Euros
Net is minus $25 Billion dollars in the global economy

October, 2018
U.S. Federal Reserve -$50 Billion Dollars
European Central Bank + $15 Billion Euros
Net is minus $35 Billion dollars in the global economy

November, 2018
U.S. Federal Reserve -$50 Billion Dollars
European Central Bank + $15 Billion Euros
Net is minus $35 Billion dollars in the global economy

December, 2018
U.S. Federal Reserve -$50 Billion Dollars
European Central Bank + $15 Billion Euros
Net is minus $35 Billion dollars in the global economy

January, 2019
U.S. Federal Reserve -$50 Billion Dollars
European Central Bank + $0 Billion Euros
Net is minus $50 Billion dollars in the global economy and $50 Billion dollars removed every month after that for another couple of years.

The Real Estate bubbles in Toronto and Vancouver are TOAST!

#63 Bytor the Snow Dog on 06.28.18 at 9:35 pm

#15 robert james on 06.28.18 at 6:23 pm sez:

“Trump brings the worst out in everyone.. Brawl at Gay pride.. ”

———————————————-

BY GAWD MAN! I hope it wasn’t a sword fight….

#64 Smoking Man on 06.28.18 at 9:37 pm

The Parody accounts on twitter pretending to be liberal ministers is absolutely hilarious.

Butts called up jack to complain. Fake climate barbie got sacked. She started another one. Mow she has double her fan base in two days. So now you have all these fakes feeding off each other. So funny check it out.

#65 July 1st on 06.28.18 at 9:40 pm

Trudy our gracious leader will be in Leamington, Ontario to visit the Highbury Can Co. plant, and is all excited to look at tomato paste. Not to disappoint his fans in Ottawa, will be making an appearance on Parliament Hill, if all works out via a video feed from Leamington. He had better watch out that the boys and girls down that way don’t throw tomatoes at him from the family greenhouse.

#66 Shawn Allen on 06.28.18 at 9:42 pm

Non-Cash Write Down at Corus Entertainment

Ace Goodheart at 26 said

“They took 1.01 billion in “non cash impairment charges” to their “goodwill”.

“This, of course, is a billion dollar tax deduction. Combined with a way of getting out of paying a steep dividend.

“These guys just cleaned up their balance sheet, grabbed a large tax break and got rid of a bunch of debt.

“In reality, they actually earned 37 cents per share, which is an increase of 2 cents from the last earnings report which was 35 cents per share.

“This is a company worth digging into.”

****************************************
Interesting argument but I don’t think it is correct.

Looking at their Q3 financial report including note 16 it is confusing but it looks like the goodwill loss was not tax deductible. They show income tax would have been negative $192 million but because the goodwill expense is not deductible for tax purposes tax was actually positive $73 million. But this was for the nine months instead of three Months.

In my view, non-cash expense is code for. “It’s a very real loss but we would like to convince you that it is not.” When they paid for the goodwill (which they did in an acquisition) real cash (or shares worth cash) was or were paid. Any management calling something non-cash is a big red flag. Like when they give away a load of stock options, diluting share holders but point out it was non-cash.

Shaw Communications owned a large part of Corus and they had no interest in seeing a dividend decrease.

No, the whole report at a quick look to me is evidence of very poor results to say the least if not disaster.

A goodwill impairment does not get rid of any debt whatsoever and weakens the balance sheet as the equity is reduced while debt is maintained.

True, going forward the reduced dividend leaves more cash with the company and that will strengthen the balance sheet over time.

I do agree though that the goodwill impairment should be ignored in judging “true” earnings for this quarter. Absolutely. You might be right that it is worth looking at but I think you are quite wrong on the tax deduction. No management would have wanted to do this. Circumstances forced it.

#67 crowdedelevatorfartz on 06.28.18 at 9:49 pm

@#30 The Bank Rules ARE WORKING
“So, for the first time in 10 years of testing the lending parameters every quarter I can now say rules that are now in effect are shrinking credit capacity, therefore, shrinking purchasing power, therefore, causing the current slow down being experienced.”
++++

no no no
You cant rain on the Real Estate parade.
Some blog dogs dont want to hear the ugly truth.
Prices dropping
Sales Tanking.

No No Nannette
“Uppa uppa uppa” is the song Realtors and Greaterfools sing

#68 Kev on 06.28.18 at 9:50 pm

Just like paying the minimum Visa payment :-(

#69 Reximus on 06.28.18 at 9:56 pm

I have a small open mortgage with Merix, with the last BOC increase they didnt even bother to change my rate/payment amt

That’s because the increase is being added to your principal. – Garth

#70 Ponzius Pilatus on 06.28.18 at 9:58 pm

#29 fishman on 06.28.18 at 6:54 pm
pee in a cup : Garth

The expression “so poor you don’t have a pot to piss in” comes from the old days in England. Poor people had a pot to save pee because they sold their pee. They sold it to Tanners who needed the uric acid for tanning hides.

Too much information. – Garth
————
There can never be enough information.
Garth,
Obviously you have never been poor.

#71 crowdedelevatorfartz on 06.28.18 at 9:59 pm

@#38 MF
#29 fishman on 06.28.18 at 6:54 pm

“Too much information. – Garth”

-What’s your verdict on this one Crowdedelevatorfartz?

MF
+++++++

To be honest, I find trivia such as that fascinating.
I fully expect to unleash that trivia story at the next cocktail party I’m at when one of the other guests says, ” I heard Blacksheep went “all in” on Real Estate and lost everything…..now he doesnt have a pot to piss in……”

#72 Spectacle on 06.28.18 at 10:08 pm

#58 Charles on 06.28.18 at 9:16 pm
So Garth what’s the link to Merix Financial, you totally should have signed a referall agreement before posting…. or did you???

Um, that was not exactly an endorsement. – Garth

Speaking of endorsements:: lies, lies and more lies. This guy probably sleeps very well too!

Looks like their is a crooked set of rules for crooked people living in a crooked house! Mr. Idiot-Socks lies.

On groping allegation, Trudeau ducks the rules he set | The Star
https://www.thestar.com › 2018/06/28

#73 Strange Company on 06.28.18 at 10:09 pm

#58 Charles – I wouldn’t recommend this financial company because cannot identify where this money is coming from. Rates will be increasing so something doesn’t add up.

#74 Steve French on 06.28.18 at 10:17 pm

https://eand.co/why-americas-collapsing-at-light-speed-da304156dff0

America is now collapsing at terminal velocity — faster than any society in history…

And I think that while Americans have a sense things are breaking down around them, they don’t really understand — because they aren’t often told — that a) this is the real thing, genuine collapse b) it is happening not slower or better than elsewhere, but in fact far faster, worse and harder, and c) because it is happening so fast, there is added to the constant stress of predatory capitalism, the heart-stopping turmoil of all these kinds of collapse, political, cultural, social, and economic.

Terminal velocity. So what happens when a society hits the ground? Usually, like anything, it shatters, breaks, and explodes.

#75 Ponzius Pilatus on 06.28.18 at 10:17 pm

Re: Uric acid aka piss.
Necessity is the mother of invention.
No rich person has ever invented anything.
Prove me wrong.

#76 Love Guru’s Dad on 06.28.18 at 10:22 pm

#48 Spectacle on 06.28.18 at 8:30 pm
” But perfectly safe, like weed. ”

Exactly, welcome to the future we wrought!

Acute Marijuana-Induced Psychosis May Predict Future Illness | Psychology Today
https://www.psychologytoday.com › blog
——————
Hmmm….and what do psychologists like to prescribe their patients for said psychosis?

Watch this and share your thoughts.

https://m.youtube.com/watch?v=fu6FhJIyTEc

#77 TRUMP on 06.28.18 at 10:27 pm

GARTH,

You are the man, the myth, the legend…..

MERIX Financial here I come. Show me the money!!!!

#78 Reality is stark on 06.28.18 at 10:29 pm

Now it’s time to talk about reality.
Economy was running at a 2% growth rate when housing was 7% of GDP. Housing now contributing 3.5% of GDP.
What does this tell you dingledorfs?
That’s right. We are currently in a recession.
Conduct yourselves accordingly.
Housing is falling off a cliff and the distress is just beginning. You are about to hear some horrific stories come this fall when the deep discounting becomes endemic.
Brace yourselves, the pain is just beginning but the fear and panic stage is not far off. People are about to make some irrational decisions as they feel the financial hell.
Keep your distance.

#79 For those about to flop... on 06.28.18 at 10:38 pm

#213 Retired Boomer WI Jr on 06.28.18 at 7:26 pm
#91 For those about to flop…

I know you and my dad were friends on here. What is this Pink Snow project that you talked about on here and how can I find it. Thanks.

Paul
M43WI

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

Hey Paul,good to hear from you.

Your father was very kind to me.I used to try and make him laugh and show him anything I thought he was interested in.

Just random stuff sometimes just to let him know I was thinking of him and enjoyed our friendship like a picture of the USS Wisconsin when I visited Norfolk,Virginia.

He gave me lots of advice and also used to help break down Garth’s post for me.

Very intelligent,very caring.

I suspected something was wrong as he used to announce if he was going on holidays or taking a break for a while.

He wrote me two days before his passing to wish me well with an upcoming ankle surgery,just a short message but he always slipped the odd line or two in to make sure I knew he was watching out for me.

I had surgery in October and in the intervening time was consumed with my health as the surgery did not go well and after being told I would be off work for 3 months it turned into over seven.

When I found out about your fathers passing it affected me deeply as at that time I was unable to walk ,crawling around the house like a dog ,as I hurt my other ankle.

Due to not being able to walk I couldn’t just go outside and take my mind off it and I was spending a lot of time on the blog already, I became consumed with a way to honour him on the blog.

A week later when I had come up with a concept I started banging out Pink Snow Posts,which basically was reporting on real estate in Vancouver as we had abnormally snowy winter and the tag was blood drops in the snow of homeowners bleeding losses in the snow.

Over time I have published probably a couple of thousand posts and in the spring it becomes Pink Pollen,summer Pink Lemonade and in the fall Pink Pumpkins.

Negative real estate news is hard to come by here,and so I provide a service and try to get other posters to chip in as well.

I couldn’t give social commentary like your Dad did ,so I found a way to contribute to the blog while honouring my best friend on here at the same time.

Also last September 4/5th I started the inaugural Boom Days on the blog to celebrate him and people do a post about some valuable advice he gave them or simply just showing his now retired GAP Code of M64WI ,just to acknowledge him and to try and remind ourselves that we need to try and look out for each other.

Anyways, I could go on and on and still not fully explain our friendship,something happened and we clicked.

Being on this blog everyday ,I think of him everyday.

I originally wanted to put this up a couple of weeks ago on this blog as some people on the blog don’t like the Pink Snow posts but I am hoping that if they do visit they will stay respectful to the man it honours.

It is definitely not Greaterfool but it is a way to show I care.

If you give me permission ,I will gladly put his obituary up below my tribute message that you read and I know if something had happened to me he would have found a way to keep my memory alive on the blog.

He is definitely not forgotten,and I will fight to keep it that way…

M44BC

M64WI

I am a little hesitant as I do not want to disappoint you but here is my tribute blog to Roy H. Stacey.

Scroll down to the bottom to see me mention your Dad in my Welcome post.

https://pinksnow103480648.wordpress.com

#80 Merix on 06.28.18 at 11:21 pm

Look at their website that is far from normal because it lacks disclosures. This becomes a red flag since it lacks basic facts covered up with verbal nonsense instead. Frankly have never seen this before considering the $billions, so just where is all this money coming from when they are giving kick backs to mortgage brokers too, which is a legal hidden commission.

#81 fishman on 06.28.18 at 11:24 pm

Pee in a cup, Garth

Maybe you were referring to a piss test. Coming to our neighbourhood soon.
THC is fat soluble & takes awhile to clear the system. The Canadian Federal Prison tested protocol not to pee positive is to make a prison joint last at least 3, preferably 4 weeks. A prison joint is accepted as 5/8 thinner than than the civilian pin joint.

#82 viorelli on 06.29.18 at 12:00 am

The west is in permanent decline and rotting within as was predicted years ago:

https://youtu.be/R3nXvScRazg

#83 Oft deleted much maligned stock picker on 06.29.18 at 12:47 am

I call BA on Poloz moral suasion. He’s trying to support Trudeaus collapsing poll numbers with a pump and dump speech saying nothing….but having the effect of making it appear Canada is fighting back ( as directed by Gerald Butts two days ago) against Trump and winning by “being tough”. Really who can blame Butts for replaying that tomfoolery tactic , it worked to make Justin look less feminine by matching him in a boxing match with a chain smoking stupefied and drug addled wretch who folded due to his emphysema and it wasn’t as if Justin landed a blow because he didn’t. This is classic Butts…but this time the media has turned its back. The unions are pissed because he don’t fight for Wynne. The California lobby is pissed because he didn’t outright cancel Kinder…..and even the CBC has joined the outrage of his groping and subsequent silence. On my side…I’m short CDN and the bluster will collapse when Polo finds more data dependent reasons for keeping rates on hold. Canadian taxpayers will once again pay the shorts (huge global short campaign underway) hundreds of millions. But don’t blame us…we just was the newspapers upside down and backwards to see the truth behind the convoluted machinations of King Butts and his hand puppet Justin.

#84 Tell Trudy on 06.29.18 at 1:04 am

I was looking up the room rates at the Queen Elizabeth Hotel in Montreal. Clicked on offers and then on the promotions. Here I thought The Charter of Rights and Freedoms was a high priority of our dear leader, after all he gave away about $10 million. Rooms are available for a 20% discount only for those who live in Quebec. Does this sound like discrimination or cruel and unusual punishment for living out of the Province?

#85 Spectacle on 06.29.18 at 1:08 am

#76 Love Guru’s Dad on 06.28.18 at 10:22 pm
#48 Spectacle on 06.28.18 at 8:30 pm
” But perfectly safe, like weed. ”

Exactly, welcome to the future we wrought!

Acute Marijuana-Induced Psychosis May Predict Future Illness | Psychology Today
https://www.psychologytoday.com › blog
——————
Hmmm….and what do psychologists like to prescribe their patients for said psychosis?

Watch this and share your thoughts.

https://m.youtube.com/watch?v=fu6FhJIyTEc
————————————::::————————

Guess my response is the same as in the video you noted.

” are we missing something?” Medical marijuana oils are also effective in siezures in children . And not paid/supplied by our Canadian BC Medical system! Remarkable and stats significant. Not smoked! Key point, do not inhale a burning organic compound, cancerous, or worse as I indicated.

Alas, yes many psychological practitioners prescribe drugs/medication etc through the big $ pharma $ ; as you put the question out there. Much, much more to the free pot story, terrible for civilization.

Some medication is life saving. The government and big pharma etc want the whole nation Dumbed down, if that could be made any worse….

Charlotte Iserbyte is a great YouTube video on the subject if you wish.

Night.

#86 jane24 on 06.29.18 at 1:09 am

An Aussie told me recently at a drinks party that one of the reasons that Australian RE is so high is their tax system. Apparently you can buy a dump at vast expense and then deduct all your losses on it from your regular employment income. Folk apparently attend RE auctions, which is how most homes are sold in Australia, looking for the worst condition, most expensive dump possible. Seems nuts to me.

Here in the UK interest only home loans are very popular. I have used them many times myself, usually for short-term holds and rental properties. In fact most rental homes here are financed through interest only mortgages as easier at tax time. They have their place in residential finance. People only get unstuck if they use interest only mortgages for their own residence and do it for years. Sooner or later they have retired and still own a whack on their home. Banks won’t re-finance due to their age and income and they end up as a financial news story in the papers.

#87 NEVER GIVE UP on 06.29.18 at 1:13 am

#16 Laws Don’t Apply in British Columbia when Liberals Rule on 06.28.18 at 6:30 pm
New Parq Casino is an outrageous land deal—public assets leased way below market to a 2-bit US casino player, then millions in construction subsidies. After BC Lib fundraiser & BCLC chair Mr. R.T. bought shares.
==================================

Today my wife and I were strolling the legislature of BC. We went in to see the Legislative Chamber.

I commented to my wife, “This is the real estate raping chamber where our kids futures have been pillaged”.
Another nearby person overheard me and said emphatically, “Exactly!”

#88 Entire Country about to Flop on 06.29.18 at 2:56 am

Things have really slowed down in the Okanagan. Some of the last outer areas to pop.

It’s happening.

#89 Buy? Curious? on 06.29.18 at 3:33 am

Everybody under the age of 40, listen to me! Whatever you do, hold out from buying a house for the next 5years. The Baby Boomers (Hoarders) are starting panic! Old age homes’ spots are getting scarce and the waiting lists are getting long (two years waiting list for the one my parents are looking into). Prices will fall like a pair of pants when the drawstring isn’t properly tied. (It happened to my Dad recently at the Oshawa Mall). And Realaturds, your commission structure is coming to an end!

#90 Howard on 06.29.18 at 5:49 am

#74 Steve French on 06.28.18 at 10:17 pm
https://eand.co/why-americas-collapsing-at-light-speed-da304156dff0

America is now collapsing at terminal velocity — faster than any society in history…

—————————————-

Dream on. America will continue to be top dog for many decades to come. Nobody alive today will know a world in which the US isn’t the top superpower.

#91 Drug Ford on 06.29.18 at 7:43 am

Today, friends, things start getting better!

Ontario, I am your new dealer!

#hashish

#92 Drug Ford on 06.29.18 at 7:44 am

oops, that should be “leader” ;)

#93 Hand Puppet? on 06.29.18 at 7:46 am

How can I ever forget the day when the $10 million story came out, but there is a higher association. Trudy was in Ireland at this time with the ruler of Ireland having a great time on our dime. They jointly were making a speech in a press conference which you can find on you tube. A reporter asked Trudy what he thought of the legal case at hand thus far. The PM made a reply that was bizarre saying that its in the hands of the judiciary and the court will decide its outcome. It appears he knew nothing, so needed the reason why, and found a strange piece of legislation indicating the law had been changed. We have no Deputy Prime Minister in Canada anymore, so just who is the puppet master under certain circumstances, and why was he not informed that a payment had been made. This took the case out of the court with an agreed settlement.

#94 Exact Words on 06.29.18 at 8:16 am

His exact words, after being asked by a reporter about the $10 million settlement made regarding the Omar Khadr situation. Trudy replied there is a judicial process underway, and we are anticipating the judicial process is coming to a conclusion. The horse had left the barn, and nobody informed him that the judicial process was over at this point. The payment took this case out of the judicial process, so there was nothing more to anticipate.

#95 Ian on 06.29.18 at 8:53 am

“We’ve said clearly that, given where the economy is, we’re in a situation where the economy will warrant higher interest rates,” said Poloz.

I love central banks. Aren’t they fun? What he really means is that Canada’s Q1 GDP was 1.3% and we are the furthest thing from a scenario where he wants rates to rise. Hilarious.

Can’t wait to see what Q2 GDP comes in at. Nothing like trade friction to stoke business investment!

#96 James on 06.29.18 at 8:53 am

#83 Oft deleted much maligned stock picker on 06.29.18 at 12:47 am
___________________________________________
We live in an era of zero tolerance and lightning quick justice where careers can be crushed in the time it takes to finish morning coffee. There is no statute of limitations and denials can simply feed the fire. Things move at warp speed. So why has a groping allegation against Prime Minister Justin Trudeau unspooled in such slow motion? The prime minister’s laconic response to this, the ‘I can’t remember, so it’ll go away,’ posture has only invited greater scrutiny. But something appears to have happened, and the way Trudeau has responded is too much 2000 and not enough 2018. This is especially troubling coming from him because he is breaking rules he has set himself. This much is known. Trudeau, then a school teacher known best as the son of a former prime minister, attended a beer-fuelled festival in Creston, B.C., in August 2000 and pictures of the then 28-year-old future prime minister showed he was having a heck of a good time. He is alleged to have groped a reporter from the Creston Valley Advance who was also reporting for the Vancouver Sun and the National Post. The woman was sufficiently distressed that she penned an editorial in her local paper. It began with what she characterized as an apology from Trudeau: “I’m sorry. If I had known you were reporting for a national paper I would never have been so forward.” That response from Trudeau, if true, could not be more tone deaf. It implies that had she been just a small town note-taker, Trudeau might have seen things differently. Thursday, Trudeau’s office issued the same statement it has been providing to inquiring reporters since the editorial resurfaced: “As the prime minister has said before, he has always been very careful to treat everyone with respect. His first experiences with activism were on the issue of sexual assault at McGill, and he knows the importance of being thoughtful and respectful. “He remembers being in Creston for the Avalanche Foundation, but doesn’t think he had any negative interactions there.’’ It’s true that these allegations have been promoted by some hostile to Trudeau — but they didn’t invent them. Yes, they were first published in media outlets that would be perceived to be unfriendly to the prime minister, yet the best reporting on the matter has been done by the National Post. The piece was eminently fair. There was no sudden torrent of other allegations, as is often the case, giving the story instant oxygen. Without evidence to the contrary, the media was left with no indication of any pattern of such behaviour from the prime minister. It is possible Trudeau legitimately doesn’t remember, or that he thinks he did nothing wrong, but that appears unlikely because he has never denied the “apology,” as published by the woman. And when your name is Trudeau, there is always a power dynamic at play, whether you are a schoolteacher or the prime minister. We must believe this woman. Trudeau has told us that must be the default position when such allegations come to light.
Stay tuned over the next week as it will be interesting for T2 to explain his groping of a woman whilst at the same time declaring himself a feminist. Who would have thought that T2 and the Orange Man are cut from the same cloth?

#97 Leo Trollstoy on 06.29.18 at 8:58 am

America is now collapsing at terminal velocity — faster than any society in history

Lol good luck w that!

Lulz

#98 James on 06.29.18 at 9:06 am

#215 Retired Boomer WI Jr on 06.28.18 at 7:26 pm
_________________________________________
Loved your incite on the whole debacle from an American citizens point of view. Just got back last week from meetings with our customers in the USA. The whole country is appears to be fractured. The divisiveness is quite intense as well. Americans in general just want what we all want, and that is to make money and live our lives as we we fit without interference from the government. The one thing I can not grasp is the intense love affair that Donald Trump has with Putin (Russia) and now Kim Jong-un Supreme Leader of North Korea. WTF gives there? He has alienated all of Americas allies and cozied up to these two? What is next a love affair with China? This is not the America that I knew growing up but this must be King Trumps America.

#99 Catalyst on 06.29.18 at 9:14 am

IO loans have been the norm in Canada from all the Big banks in the form of HELOCs. If you pay monthly towards your principle and then turn around and borrow it from the heloc, are you really paying down principle or are we just fooling ourselves.

#100 dharma bum on 06.29.18 at 9:44 am

#22 Amort

The interest is not simple. – Garth
——————————————————————–

Unfortunately, most of us blog dogs ARE!

#101 CJBob on 06.29.18 at 9:50 am

#84 Tell Trudy on 06.29.18 at 1:04 am
#93 Hand Puppet? on 06.29.18 at 7:46 am
________________
Garth, you forgot to lock the medicine cabinet again.

#102 Last Shot on 06.29.18 at 10:10 am

The lawsuit was re-launched (NEW) for $20 million in damages in 2014, and settled in 2017 OUT OF COURT in regards to the Omar Khadr case. The definition of judicial is something related to a Judge or Court, but there was really nothing judicial about this at all in the first place, because there was no judicial process taking place. Trudy would have known about previous discussions that took place, but didn’t have a clue that a payment had been made while in Ireland. Who is really running this government – a cabal?

#103 Smoking Man on 06.29.18 at 10:31 am

Just caught what T2 carbon tax will cost people. Woah!! Toss in a few rate hikes. Capital and investment outflow. People subsidising the high cost of living using helocks in a declining market while the Lonny gets crushed and the cost of everything going up. The coming housing crash and destruction of the economy will be biblical.

Demand an election now.

#104 Ponzius Pilatus on 06.29.18 at 10:33 am

#87 NEVER GIVE UP on 06.29.18 at 1:13 am
#16 Laws Don’t Apply in British Columbia when Liberals Rule on 06.28.18 at 6:30 pm
New Parq Casino is an outrageous land deal—public assets leased way below market to a 2-bit US casino player, then millions in construction subsidies. After BC Lib fundraiser & BCLC chair Mr. R.T. bought shares.
==================================

Today my wife and I were strolling the legislature of BC. We went in to see the Legislative Chamber.

I commented to my wife, “This is the real estate raping chamber where our kids futures have been pillaged”.
Another nearby person overheard me and said emphatically, “Exactly!”
——————
That was under Christy Clark.
Fortunately, she is gone now.
Where is she anyway?

#105 Reximus on 06.29.18 at 10:38 am

That’s because the increase is being added to your principal. – Garth

===

Nope

Read the fine print on your contract. A VRM mortgage maintains fixed payments but when rates rise, so does your interest component – which is added to the principal. Where did you think it’s going? – Garth

#106 Victor V on 06.29.18 at 10:52 am

Bitcoin Bloodbath Nears Dot-Com Levels as Many Tokens Go to Zero

https://www.bloomberg.com/news/articles/2018-06-29/bitcoin-falls-below-5-900-to-wrap-up-a-gloomy-2018-first-half

Bitcoin’s meteoric rise last year had many observers calling it one of the biggest speculative manias in history. The cryptocurrency’s 2018 crash may help cement its place in the bubble record books.

Down 70 percent from its December high after sliding for a fourth straight day on Friday, Bitcoin is getting ever-closer to matching the Nasdaq Composite Index’s 78 percent peak-to-trough plunge after the U.S. dot-com bubble burst. Hundreds of other virtual coins have all but gone to zero — following the same path as Pets.com and other red-hot initial public offerings that flamed out in the early 2000s.

#107 Shawn Allen on 06.29.18 at 11:05 am

Actually, Yes, People Are Now Entitled to Their Own Facts

It used to be said that everyone was entitled to their own opinion but not to their own facts.

Those days are long over. Trump especially has shown that making up your own facts works just great.

Emotions and pre-existing ideas are what resonate. Also identifying enemies works. Define some group to blame. Make up facts at will to stoke anger. If you are called out on false facts simply attack harder and direct attention and anger against the enemy. Never admit being wrong. This sadly, is the new approach and, even sadder, it works great.

If Trump can be a bald-faced liar, so can everyone.

#108 FOUR FINGERS WATSON on 06.29.18 at 11:10 am

#88 Entire Country about to Flop on 06.29.18 at 2:56 am
Things have really slowed down in the Okanagan. Some of the last outer areas to pop.

It’s happening.
……………………………..

I can’t comment on sales but there are a LOT of condos and multi family units being built in Kelowna. I have been in Kelowna since ‘93 and I have never seen so many units being built.

#109 Duke on 06.29.18 at 11:12 am

#79 For those about to flop… on 06.28.18 at 10:38 pm

Sir, I hope you get better soon.

#110 whiplash on 06.29.18 at 11:16 am

Ottawa to give $1billion in loan funding to steel and aluminum! Maybe Justin should get off the sofa quit watching cartoons and get his ass down to DC and do some face time with Trump. And leave your crayons at home!!

#111 Thief Alert on 06.29.18 at 11:33 am

#101 CJBob – We all know you had the key all along, so what were you looking for to borrow? Did you miss the cam recorder in the corner?

#112 James on 06.29.18 at 11:54 am

#103 Smoking Man on 06.29.18 at 10:31 am

Just caught what T2 carbon tax will cost people. Woah!! Toss in a few rate hikes. Capital and investment outflow. People subsidising the high cost of living using helocks in a declining market while the Lonny gets crushed and the cost of everything going up. The coming housing crash and destruction of the economy will be biblical.

Demand an election now.
____________________________________________
Which Lonny is getting crushed?
There are so many Lonnies out there, or are you into interior design Smoking Duche? I guess it is interior design your talking about getting crushed as Lonny magazine has been gone now since 2015. Oh yes and what do you care about it? Your in America now. Enjoy your July 4th holiday with beer, franks & firecrackers. Don’t get shot by accident now ya all.
One last thing please never come back to Canada, the air is so much cleaner now without you here.

http://www.lonny.com/magazine

#113 Love Guru’s Dad on 06.29.18 at 11:55 am

#85 Spectacle on 06.29.18 at 1:08 am
#76 Love Guru’s Dad on 06.28.18 at 10:22 pm
#48 Spectacle on 06.28.18 at 8:30 pm
” But perfectly safe, like weed. ”

Exactly, welcome to the future we wrought!

Acute Marijuana-Induced Psychosis May Predict Future Illness | Psychology Today
https://www.psychologytoday.com › blog
——————
Hmmm….and what do psychologists like to prescribe their patients for said psychosis?

Watch this and share your thoughts.

https://m.youtube.com/watch?v=fu6FhJIyTEc
————————————::::————————

Guess my response is the same as in the video you noted.

” are we missing something?” Medical marijuana oils are also effective in siezures in children . And not paid/supplied by our Canadian BC Medical system! Remarkable and stats significant. Not smoked! Key point, do not inhale a burning organic compound, cancerous, or worse as I indicated.

Alas, yes many psychological practitioners prescribe drugs/medication etc through the big $ pharma $ ; as you put the question out there. Much, much more to the free pot story, terrible for civilization.
Some medication is life saving. The government and big pharma etc want the whole nation Dumbed down, if that could be made any worse
——————
Below the lyrics for “Bush Doctor” by Peter Tosh. Note the implication that “smoking” marijuana cures glaucoma and asthma. Bush Doctor = Rasta Medicine Man, and know the medicinal properties of the plants that grow naturally in their environ.

Lyrics

Warning! The Surgeon General warns
Cigarette smoking is dangerous, dangerous
Hazard to your health
Does that mean anything to you

We ought to legalize marijuana, yeah
Right here in Jamaica
Dem say it cure glaucoma
I’m a Natty Bush Doctor

So there’ll be
No more smokin and feelin tense
When I see them a come
I don’t have to jump no fence

Legalize marijuana
Down here in Jamaica
Only cure for asthma
I’m a de Minister (of the Herb)

So there’ll be no more
Police brutality
No more disrespect
For humanity

Legalize marijuana
Down here in Jamaica
It can build up your failing economy
Eliminate the slavish mentality

There’ll be no more
Illegal humiliation
And no more police
Interrogation

Legalize marijuana
Down here in sweet Jamaica
Only cure for glaucoma
I’m a Natty Bush Doctor

So there be
No more need to smoke and hide
When you know you’re takin
A legal ride
Legalize marijuana
Down here in Jamaica
It the only cure for glaucoma
I man a de Minister

#114 AB Boxster on 06.29.18 at 12:09 pm

#110 whiplash on 06.29.18 at 11:16 am

Ottawa to give $1billion in loan funding to steel and aluminum!

———————————-

Well that’s only fair given the massive support the feds gave Alberta, Saskatchewan and Newfoundland companies when the energy industry went through massive cutbacks due to the crash of oil prices and the pipeline policies of the feds designed to kill the industry.

Riiiiiighhht.

#115 conan on 06.29.18 at 12:17 pm

#110 whiplash on 06.29.18 at 11:16 am

” Justin should get off the sofa quit watching cartoons and get his ass down to DC and do some face time with Trump. And leave your crayons at home!!”

How about never give an inch to a bully!
Trump has a PHD in F-headedness.
WTF is Quisling boy doing in Washington?

We found the rot. Its in the Con Party.

#116 Shawn Allen on 06.29.18 at 12:23 pm

Make Up Your Own Facts

I was reminded of the make-up-your-own facts approach by this post:

#78 Reality is stark on 06.28.18 at 10:29 pm:

Now it’s time to talk about reality.
Economy was running at a 2% growth rate when housing was 7% of GDP. Housing now contributing 3.5% of GDP.

***************************************
Common sense would tell you that there is no possible way that housing’s contribution to GDP has fallen in half.

The post here simply claims it as fact. And why not? It’s convenient for the person’s argument so it is all fair game in a world where we are all permitted to just make up our facts.

How much has housing construction fallen? Hardly any as Canada is still building roughly 200,000 housing units per year (includes multi-family).

How much has housing transaction activity fallen? Home inspections, realtor fees, title searches, land transfer fees? Granted those may be down a lot possibly even 50%.

How much has the contribution to GDP from mortgage lending fallen? Well, I suspect that existing mortgages contribute to that and so I would suggest it has hardly fallen at all.

It would take a careful study to pull out all the parts of GDP that relate to housing and look at the decline. I don’t know what the result would be but I am certain it would be far closer to 5% decline than 50%.

How could it be otherwise if 1) Housing is a big part of GDP and 2) GDP is still rising?

But of course in today’s world none of this matters. Hitting emotional buttons is what gains favor in a world of internet news. Using actual facts is a way to lose an argument. A waste of time.

#117 Victor V on 06.29.18 at 12:41 pm

‘It’s a go for a July rate hike’ after April GDP gain, says economist

https://www.bnnbloomberg.ca/it-s-a-go-for-a-july-rate-hike-after-april-gdp-gain-says-economist-1.1101103

“We’ve passed the first of three hurdles remaining for the Bank of Canada decision on July 11,” Frances Donald, senior economist, Manulife Asset Management, said in an interview with BNN Bloomberg. “GDP has come in – that’s certainly enough to check the box for the Bank of Canada and a July rate hike.”

She noted the Bank of Canada’s Business Outlook Survey, which came out at 10:30 a.m. ET Friday, and Canadian jobs numbers next week would provide further indication to what the central bank will decide July 11.

“All in all, these numbers that you’re telling me right now say it’s a go for a July rate hike.” Donald said.

#118 Howard on 06.29.18 at 1:03 pm

#84 Tell Trudy on 06.29.18 at 1:04 am
I was looking up the room rates at the Queen Elizabeth Hotel in Montreal. Clicked on offers and then on the promotions. Here I thought The Charter of Rights and Freedoms was a high priority of our dear leader, after all he gave away about $10 million. Rooms are available for a 20% discount only for those who live in Quebec. Does this sound like discrimination or cruel and unusual punishment for living out of the Province?

———————————————-

Did you know that Quebec used to allow French nationals to study at Quebec universities at the low rate charged to Quebec residents, while charging Canadians from the ROC much higher rates?

In other words, a student from Alberta – the province that largely supports Quebec’s lifestyle including rock bottom tuition – who got into McGill was paying double the tuition fee not just compared to born and raised Quebecois but also compared to French nationals.

Quebec ended this policy a couple years ago after many decades in effect.

I’m not sure if other provinces charge more to out of province students. When I was a McMaster student 15+ years ago I knew quite a few people on campus from out of province, and I never once heard that they paid higher tuition than Ontario residents.

#119 Balmuto on 06.29.18 at 1:07 pm

Loonie up large. Canadian economy strong. Business sentiment soaring. Donald who? Happy Canada Day!

https://www.bloomberg.com/news/articles/2018-06-29/canada-s-economy-shows-surprising-strength-with-april-gdp-gain

https://www.bloomberg.com/news/articles/2018-06-29/canada-business-sentiment-nears-record-amid-capacity-constraints

#120 45north on 06.29.18 at 1:16 pm

whiplash: Ottawa to give $1billion in loan funding to steel and aluminum! Maybe Justin should get off the sofa and get his ass down to DC and do some face time with Trump.

that’s what he needs to do

#121 Blacksheep on 06.29.18 at 1:50 pm

Smelly one # 8,

“Blacksheep doesn’t want to hear negative predictions ( or verifiable facts ) about the Real Estate market in BC’s Lowerbrainland.
Uppa uppa uppa always uppa.”
———————————-
Smelly one # 33,

“Now now now.
Don’t be such a Debbie Downer.
Blacksheep has his daughters future to consider.
Never mind that this blog has warned for years about putting all one’s investment eggs in one basket.
The Real estate sheeple dont want to hear negative news about their “investment”.
Repeat after me greaterfools.
“Uppa uppa uppa. Real Estate always goes uppa”.
happy Housing CRASH everyone.”
———————————-
Smelly one # 71,

“To be honest, I find trivia such as that fascinating.
I fully expect to unleash that trivia story at the next cocktail party I’m at when one of the other guests says, ” I heard Blacksheep went “all in” on Real Estate and lost everything…..now he doesnt have a pot to piss in……” ”
———————————-
Wow…three shout outs, in only 70 posts, I think that’s a record for me, I must have really upset you : )

You can’t critique my honesty, so your forced to resort poorly crafted, trash talk. All emotion, zero content, your not very good at this.

While I appreciate your concern for my financial well being, I adhere to Garth’s rule of 90, I’m good.

#122 Wasted DNA on 06.29.18 at 2:03 pm

#112 James on 06.29.18 at 11:54 am

#103 Smoking Man on 06.29.18 at 10:31 am

Just caught what T2 carbon tax will cost people. Woah!! Toss in a few rate hikes. Capital and investment outflow. People subsidising the high cost of living using helocks in a declining market while the Lonny gets crushed and the cost of everything going up. The coming housing crash and destruction of the economy will be biblical.

Demand an election now.
____________________________________________
Which Lonny is getting crushed?
There are so many Lonnies out there, or are you into interior design Smoking Duche? I guess it is interior design your talking about getting crushed as Lonny magazine has been gone now since 2015. Oh yes and what do you care about it? Your in America now. Enjoy your July 4th holiday with beer, franks & firecrackers. Don’t get shot by accident now ya all.
One last thing please never come back to Canada, the air is so much cleaner now without you here.

http://www.lonny.com/magazine
..

Lonny has risen past two days… I’m sure he predicted that as well !!!… he’s never wrong.. hey IOTA has only lost 75% of its peak.. LMAO

#123 jess on 06.29.18 at 2:12 pm

Does he deserve privacy?

Biggest immigration fraudster in Canadian history left $900K fine unpaid
National Parole Board decision says Xun (Sunny) Wang had to be released one-third through his 7-year sentence

…”Wang was sentenced to seven years behind bars minus time served in custody and ordered to pay two fines: $730,837 to the Canada Revenue Agency (CRA) for tax evasion and $187,901.24 for defrauding the federal government — a total of almost $920,000.

Promise to mortgage home

In reviewing his pending release in November, the parole board admonished Wang, stating “you have indicated you do not believe you owe the CRA any money.”

But it noted that when “confronted” on his defiant attitude, Wang indicated he would pay the fines by having his home mortgaged.

The board also noted Xun (Sunny) Wang had transferred all of his assets to his spouse “to avoid the Canada Revenue Agency fines.”

Seven months later, a check of Wang’s Richmond, B.C., residence on the province’s land registry website shows no mortgage listed.

The Canada Revenue Agency declined to say if Wang has paid his fine, citing privacy.

http://www.cbc.ca/news/canada/british-columbia/xun-sunny-want-release-fines-immigration-1.4727253

#124 crowdedelevatorfartz on 06.29.18 at 2:31 pm

@ #121 The Sheep Noir

Upset? Moi?
Only when I waste a flatulent expulsion in an open area.
Actually, I was critiquing the negative real estate news other bloggers were posting and which you abhor.
As unbelievable as it sounds.
Its not all you all the time.
As for your “honesty” well, we only have your word on that….
So back to my main theme.
From now on its only good news about Real Estate.
Real Estate is always up, up up.
Regardless of what the actual sales/listing stats say.

#125 James on 06.29.18 at 2:35 pm

Ontario’s new Progressive Conservative government was sworn in Friday. Here is a list of the new ministers:

Doug Ford — Premier and minister of intergovernmental affairs

Christine Elliott — Minister of health and long-term care and deputy premier

Caroline Mulroney — Attorney general and minister responsible for Francophone affairs

Monte McNaughton — Minister of infrastructure

Lisa MacLeod — Minister of children, community and social services and minister responsible for women’s issues

Lisa Thompson — Minister of education

Todd Smith — Minister of government and consumer services, and government house leader

Laurie Scott — Minister of labour

Peter Bethlenfalvy — President of the Treasury Board

Raymond Cho — Minister for seniors and accessibility

Steve Clark — Minister of municipal affairs and housing

Victor Fedeli — Minister of finance and Chair of cabinet

Merrilee Fullerton — Minister of training, colleges and universities

Ernie Hardeman — Minister of agriculture, food and rural affairs

Sylvia Jones — Minister of tourism, culture and sport

Rod Phillips — Minister of the environment, conservation and parks

Greg Rickford — Minister of energy, northern development and mines, and minister of Indigenous affairs

Michael Tibollo — Minister of community safety and correctional services

Jim Wilson — Minister of economic development, job creation and trade

John Yakabuski — Minister of transportation

Jeff Yurek — Minister of natural resources and forestry

#126 Transparency on 06.29.18 at 2:35 pm

This was a big part of Trudy’s platform promised to us. Here we have the head negotiator flying around the world, and spending almost a year negotiating a new NAFTA deal. She stayed at the best hotels, eating the best of food, took limos, may have bought new clothes, had her hair done, and flying back and forth to D.C.. So what was accomplished with signed agreements – NOTHING. How about a detailed expense accounting of all the costs documented for the taxpayers to see what NOTHING cost us. We need an audit now!

#127 232 on 06.29.18 at 2:43 pm

27 Watermill St, Kitchener

Realtor claims “True Pride Of Ownership”

This is a brand new build…..
I think the realtor needs to learn certain expressions before he uses them.

#128 jess on 06.29.18 at 3:06 pm

Giving Ian Gillespie tax dollars to fix the housing crisis would be like giving a fentanyl dealer public money to buy naloxone kits to sell back to his

https://rezel.ca/2018/06/giving-ian-gillespie-tax-dollars-to-fix-the-housing-crisis-would-be-like-giving-a-fentanyl-dealer-public-money-to-buy-naloxone-kits-to-sell-back-to-his-clients/

Is it possible to fight housing affordability in Vancouver, while at the same time touting the city’s price gains as a selling point to millionaires in China seeking “globally optimised asset allocation”?

http://www.scmp.com/news/world/united-states-canada/article/2151920/canada-housing-non-profit-courts-ottawa

#129 Retired Boomer WI Jr on 06.29.18 at 3:23 pm

#98 James

Trump had help from Russia (cyberbots on various forms of social media in order to keep pro-Trump/Anti-Clinton posts circulating constantly) to help win the election in 2016, and he got a lot of help in the form of financing from several Russian Oligarchs once he could no longer get any financing from Wall St. after the US housing bubble popped and subsequent meltdown in 2008. The only thing that I can figure is that either the Russians really have some dirt or something on him that they are using as leverage over him, so that he will do their bidding, or he feels some debt of gratitude towards them for helping to provide financing to him once his normal funding sources were cut off from him. I personally believe that Trump was/is laundering Russian money once the first US sanctions were put on some Russian companies and oligarchs a number of years ago. As to why Trump personally likes Vladimir Putin and Kim Jong Un, I think its all about how they are both tyrannical dictators, and how their respective citizens LOVE them so much (and if you don’t/aren’t seen in public waving and clapping fanatically in loving support of them, we will shoot you), and how Trump wants all US citizens to do the same, bow down and kiss his ring, and perhaps make it illegal NOT to do so.

M43WI

#130 jess on 06.29.18 at 3:30 pm

rental reits?

http://creativehousing.ca/

#131 Lp on 06.29.18 at 3:39 pm

#129 Retired Boomer WI Jr on 06.29.18 at 3:23 pm

Welome on-board Junior! Happy to have another/additional US perspective.

F71ON

#132 Blacksheep on 06.29.18 at 3:52 pm

Smelly one # 124,

Since we are discussing (I feel like we are friends now) honesty and real-estate, what type of residence do you own?

Are you, not concerned about the impact on your, RE investment? I’m sure you’ve disclosed your position on the blog, but please bring me up to speed…

#133 jess on 06.29.18 at 4:00 pm

29 Retired Boomer WI Jr on 06.29.18 at 3:23 pm
Republicans flipped on nixon because he turned out to be a liar caught on tape – Worst part of Trump’s lies is so many people believe him?

…”This week, a disturbing story emerged about the Trump administration’s apparent efforts to suppress the truth. Government agents showed up unannounced at the home of a whistleblower being interviewed by CBS News.

Former Immigration and Customs Enforcement spokesman James Schwab was telling a reporter why ethics and principals compelled him to resign from ICE in March.
http://www.chicagotribune.com/suburbs/daily-southtown/opinion/ct-sta-slowik-trump-war-on-truth-st-0629-story.html
And N.Korea seems to be upgrading
=============================

why did trump back away from china?

Donald Trump and Lido City, explained

Trump has a direct financial interest in a major real estate development project essentially underwritten by a state-owned Chinese bank.
https://www.vox.com/2018/5/21/17375900/trump-trade-lido-city-indonedia

https://www.rollingstone.com/politics/features/who-is-tom-steyer-w522136

https://www.usatoday.com/story/news/world/2018/06/28/north-korea-upgrades-nuclear-research-facility-despite-trump-kim-summit-satellite-images-show/741015002/

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

#134 National Security on 06.29.18 at 4:09 pm

The Beast all too often does things in the Name of National Security. This character hooped the WH switchboard pretending to be Senator Bob Menendez to patch him into Air Force One. The Leader of the Free World took the call 30,000 feet in the air. He had a private discussion with an imposter for 3 minutes about policies to be executed which are now on the web. Happy Canada Day Mr. President.

#135 jess on 06.29.18 at 4:28 pm

Bayer agreed to pay $128 a share in cash for Monsanto, up from last week’s per-share offer of $127.50 and a roughly 5% increase over Bayer’s initial May offer of $122. With debt included, the deal’s value is pegged at $66 billion.Sep 14, 2016

dicamba

https://monsanto.com/news-releases/monsanto-board-of-directors-approves-expansion-in-luling-louisiana/

https://ipm.missouri.edu/IPCM/2018/6/dicambaInjuryUpdate/

#136 Shawn Allen on 06.29.18 at 4:32 pm

Government Efficiency Duly Noted

Among many on this blog, government often has a reputation for inefficiency, sloth and inertia. Sometimes deserved.

But here is an example of government efficiency.

Last week, on Friday June 22 I finished up my corporate tax return in Turbo Tax.

I filed the federal part electronically, but the Alberta part had to be mailed in. A three page “keying guide” of numbers is what gets mailed in.

I mailed it on Monday in my nearby “Super Main Box”

Today, four days after mailing I received back the Alberta notice of corporate assessment in the mail.

So in just four days (five if we count the day mailed but it is four elapsed days – under 100 hours) Canada Post delivered this in two directions and an Alberta government employee must have keyed in that return and after that the processing was likely automated although possibly someone had to sign off on it.

Granted I live just outside of Edmonton where the tax files are processed.

But by any reasonable measure, this was very efficient service by the government post office and the government tax office. Credit where credit is due.

#137 Mark Baum on 06.29.18 at 4:33 pm

Does anyone know why there are no options available on $EQB (Equitable bank) stock?

#138 jess on 06.29.18 at 4:39 pm

credit card wars fueling inequality

“Even if Washington stopped spending on its wars tomorrow, it will still, thanks to those conflicts, owe more than $8 trillion in interest alone by the 2050s.”

http://www.tomdispatch.com/post/176442/tomgram%3A_stephanie_savell%2C_how_america%27s_wars_fund_inequality_at_home/#more