The mother lode

This week the high-end house floggers at Sotheby’s said the GTA luxury market was rocking. (Vancouver’s is crashing.) Meanwhile Re/Max’s latest ‘market report’ claims everything’s peachy. Sales up, listings reasonable, prices stable. The realtors among us insist the correction is over, before it has actually begun.

This is akin to yesterday’s tale of IMBY, the $1-per-share, app-based, blockchain-loving platform luring in the furry, tattooed Instagram cohort with claims of a return-on-investment of an spectacular 35%. Just as the threats to Canadian residential real estate gather speed, the marketing ratchets up. Too bad, icebergs ahead.

First, the Fed. US rates swelled again Wednesday for the eighth time. What was 0% is now 2.25% – a Herculean jump. But the latest quarter-point rise is coming with baggage. The American central bankers made it clear in their comments more increases lie ahead. Another in December. Two more in the Spring. And it won’t end there.

  “This is a pretty good moment for the U.S. economy,” was the way Fed boss Jerome Powell put it. Translation: we’re not listening to the  orange guy moaning about rising rates. The economy is pumping and so long as it happens, monetary policy will tighten. So by making credit more expensive, the bankers are trying to contain growth, inflation, wages, prices.

But Trump wants the opposite. He will continue to push an America-first agenda designed to maximize expansion, hiring, spending and the national GDP. Normally markets would start to worry a little after 8 or 9 rate increases that a recession is possible. But with Trump in the cockpit, engines at full throttle, flaps up, the next recession is a long ways off. When we get there the Feds fund could be well beyond what is considered “neutral.”

In Canada, well, just wait. North American bond markets listen to the same master and usually move in lockstep. The Bank of Canada follows the Fed, nine times out of ten (see the chart). If we don’t raise rates the dollar croaks, creating more trade tensions as our exports plunge in price.

So here’s the second problem besides mortgage rates which are likely to pop a lot higher. Jobs. In yesterday’s rant from the podium, Trump said some shocking things. Listen…

Have you ever heard an American president say he refused to meet a prime minister? Nah, never happened before. Plus Trump stated “we don’t like” Chrystia Freeland (our chief negotiator), that Canada is not “playing fair” and, “we’re thinking about taxing cars coming in from Canada…that’s the mother lode.”

Shortly afterwards T2 commented that, yeah, okay, Canada might not be in the USM agreement – and the dollar stumbled.

Well, put this together. US protectionism helps stoke domestic American growth, pumping rates. Our central bankers have limited room to move and follow suit, albeit reluctantly. Meanwhile NAFTA is kaput, Trump nukes southern Ontario and 130,000 car jobs are on thin ice. This is not idle conjecture. It’s happening. The combination of higher rates, less employment and a pissy president of our largest trading partner is not conducive to bubbly house prices. Just the opposite. Sorry, Re/Max, Sotheby’s and app boys. Facts.

Now, all this could change.

Chrystia could bully the yanks into a deal. Trump could be spanked in the mid-terms. Or impeached. The new lefty Mexican prez could nix USM. The Fed could cower and roll back rates. Trudeau could show some spine and storm Washington. We could embargo sirop d’erable and recall Celine Dion.

Or, current events could unfold.

I’ll leave you to decide.

180 comments ↓

#1 Shortymac on 09.27.18 at 3:36 pm

I don’t believe NAFTA will be kaput, the worse case scenario would be the old rules stay.

The president can’t leave NAFTA, it has to be a congressional vote and there are too many states that rely on NAFTA to get that vote.

#2 MarcFromOttawa on 09.27.18 at 3:37 pm

1st?

Go Cameco Go

#3 Armpit on 09.27.18 at 3:38 pm

Early tonight, Garth?

Housing prices may ease…when interest rates increase by to percent, T2 will remove the 2points required for qualifying.

Trudeau had nothing to do with the B20 stress test which was imposed by the bank regulator, OSFI, in order to protect the integrity of mortgage portfolios. You are wrong. – Garth

#4 Stan on 09.27.18 at 3:44 pm

The Fed will keep raising rates until something breaks. Like they always do.

#5 n1tro on 09.27.18 at 3:56 pm

Go team Trudeau!

Who cares if you failed…as long as you gave it your best right?!

#6 AJ on 09.27.18 at 4:01 pm

I don’t agree with much Garth has to say with respect to real estate, but I will agree that the most significant factor impacting home prices are interest rates.

#7 Ace Goodheart on 09.27.18 at 4:10 pm

Trump has limited to no understanding of the manner in which his American auto manufacturers have integrated their assembly operations across the Canadian and US borders.

He will soon learn all about this, probably shortly after he “taxes cars coming across the border”.

His country’s cars come across our border too. So do auto parts, back and forth in a manner that makes sense only to the manufacturers.

The USA cannot sell their cars in Europe, because the Europeans will not buy them. Go to Europe and you’ll see why (try to drive a Lincoln Navigator down the narrow streets of Paris, and see how long until you get stuck between two parked cars or a building).

The USA cannot sell its cars in most of South East Asia, for the same reason.

They sell to us, primarily, with a smaller export market made up mostly of used cars heading down to Mexico and South America.

So if you stop the flow of cars across the Canadian US border, then you have two problems:

1. You bankrupt the US auto industry. It will be worse than 2008. GM, Ford and Chrysler will require bail outs.

2. You increase the cost of the North American built car. This of course is akin to being a moron and an idiot at the same time. Because, as soon as the Chevy Cruze gets more expensive than the Honda Civic, everyone will buy Honda Civics. As soon as a VW SUV costs less than a Ford Edge, everyone will buy VW SUVs.

People buy North American cars because they are cheap. No one is going to pay 25% more for a Ford or a Chrysler. They will just buy a Japanese, Korean or European car.

Trump is massively uneducated and uninformed, and he does not seem to even understand that. It is one thing to be deliberately uninformed. It is another to simply not even know the information exists.

So he can go ahead and tax cars. We’ll tax their cars. And then we’ll assemble cars here for sale here and export elsewhere, more than likely still for foreign companies, but probably not for US owned companies anymore.

#8 Ace Goodheart on 09.27.18 at 4:16 pm

When the US citizenry, who have rallied behind their fearless leader and support his lunacy, start paying 25% more for their cars, and thousands of percentage points more for their heavily taxed consumer goods from China and South East Asia, they will quickly turn against the economic Wizard and all seeing hero that is The Donald.

He’s run all his businesses into the ground with this same stupid method of smash and grab and beggar your neighbour that he is trying now as trade deal negotiation.

So yeah Americans have filled up their lives with cheap, foreign produced consumer products. So now they can pay union wages for stuff built at home instead.

Good luck to them.

#9 crowdedelevatorfartz on 09.27.18 at 4:21 pm

I haven’t heard Freeland OR Trudeau utter one single word about gender equality issues and NAFTA negotiations in the same sentence in over a month.

She did look good sitting with the Leaders of several South American countries denouncing Venezuela’s leader yesterday.
Perhaps she should stick to Foreign Affairs and leave Trade negotiations to someone in the real world.

#10 Ben Senise on 09.27.18 at 4:34 pm

“…and recall Celine Dion”

we already have: https://globalnews.ca/news/4481060/celine-dion-las-vegas-residency-ending/

#11 BS on 09.27.18 at 4:41 pm

1 Shortymac on 09.27.18 at 3:36 pm

I don’t believe NAFTA will be kaput, the worse case scenario would be the old rules stay.

Maybe, along with 25% auto tariffs and the massive uncertainty with any investments in Canada.

The good news is T2 will be toast.

#12 Smoking Man on 09.27.18 at 4:41 pm

That’s before 30% tariffs on autos and higher rates. Are factored in.

https://www.cnbc.com/amp/2018/09/27/ubs-real-estate-bubble-index-reveals-property-crash-risk.html

#13 jess on 09.27.18 at 4:42 pm

BRUSSELS, 25. Sep, 09:30

A Russian national with a Maltese passport is reportedly part of a €10m international laundering racket in south-west Finland.

Finnish police raided over the weekend a real-estate agency known as Airiston Helmi, which sold properties in Finland’s Turku archipelago.

Finnish state media outlet YLE on Monday (24 September) reported the Airiston Helmi chair of the board is a Russian national with Maltese citizenship.

It said millions of euros worth of properties were acquired through business purchases given Airiston Helmi’s registry does not identify the buyer, a common method to launder money.

Matthew Caruana Galizia, a Maltese investigative reporter, on twitter identified the Airiston Helmi chair, noting his name appears in the Malta government gazette of 19 August 2016.

The case casts a long shadow over Malta’s scheme that allows a person to gain citizenship in return for a €650,000 contribution to the country’s development fund.

It also requires them to purchase or lease property and invest at least €150,000 in stocks and bonds.

EU justice commissioner Vera Jourova, earlier this year, shed doubt on the passport sales – with similar schemes also found in Austria, Bulgaria and Cyprus.”…

https://euobserver.com/justice/142941

The Spider’s Web: Britain’s Second Empire for free download in mid-September and close to half a million people have viewed this film since its release. Here’s why I think it is resonating with audiences across the world.
The Spider’s Web is a documentary about how the City of London emerged from the demise of the British Empire in the 1950s and re-established itself as the leading global financial centre. The mainstream narrative is that British bankers and lawyers are particularly adept at providing financial services to big corporations and wealthy elites across the world, British justice is trusted across the planet, and London provides a politically stable and competitive base for international finance…

London in particular, was covertly turned into the money-laundering centre of choice for crooks from across the planet…

I also came to know former Jersey Senator Stuart Syvret, who we interviewed for The Spider’s Web in Saint Helier. If you watch the film you will hear from Stuart what happened when he uncovered an ugly scandal at Jersey’s main hospital and the lengths the authorities went to silence him. ”

https://inews.co.uk/opinion/comment/500000-people-have-watched-my-film-exposing-britains-tax-havens-heres-why-it-has-struck-a-chord/

=========

TJN’s director John Christensen, a former Economic Adviser to the island of Jersey, reflects on his experience of exposing a banking scandal, which involved him in a direct confrontation with senior politicians and island officials.:

Late one evening in January 1996 I took a call from a Wall Street Journal reporter called Michael Sesit. This call changed my life. He was enquiring into the failure of my then employer, the government of Jersey, a small British-linked tax haven, to investigate accusations by US based investors that the Jersey-based subsidiary of Swiss banking giant UBS had violated US federal racketeering laws by conspiring with a British currency trader in a variety of crimes including fraud, executing fictitious currency trades, churning accounts, theft and deceit.

My office was not directly implicated in the story, but I was in a position to confirm whether or not proper procedures had been followed by relevant government departments in licensing the trader at the heart of this multi-million dollar scandal. When I discovered a web of procedural irregularities that reached the very top of the government, I knew that I had to decide between keeping my secure, well-salaried job or to act on principle and cooperate with a journalist investigation. I called the reporter 24 hours later, and agreed to cooperate.”

https://www.taxjustice.net/2015/12/01/john-christensen-reflections-of-a-whistleblower/

#14 BS on 09.27.18 at 4:45 pm

Have you ever heard an American president say he refused to meet a prime minister? Nah, never happened before.

It shows you what a tool T2 is. Trump has been negotiating with many other world leaders in trade negotiations none have been discredited like the drama teacher.

#15 604er on 09.27.18 at 4:47 pm

Trudeau needs to go! We need someone who is going to keep Canada in somewhat working shape after Trump’s done ripping into us. Legal Bong hoots aren’t gonna be enough to save us!

#16 renter in Surrey on 09.27.18 at 4:47 pm

NAFTA can’t cause RE crash because RE was already killed by foreign dudes tax, raising rates, and B20, right?

NAFTA kaput probable will have the same effect – zilch

#17 eightlock90 on 09.27.18 at 4:47 pm

I don’t see how this is not an economic crisis in Canada. this country has an unholy amount of debt to GDP and the FIRE sector is such a large part of the economy how can Canada survive rising interest rates?

Either Poloz torpedos the dollar to save real estate speculators or the bond market goes up and we have a crisis.

#18 jess on 09.27.18 at 4:52 pm

the globalist movement ?
Dr Christian Kalin, the chairman of Henley & Partners. …”moving the world beyond simplistic notions of nationhood.”

https://www.bloomberg.com/news/articles/2015-03-11/passport-king-christian-kalin-helps-nations-sell-citizenship
=================================
The slain journalist had in late 2013 uncovered a Henley & Partners PDF presentation that promised Russians a fast track for EU citizenship via Malta, before the scheme had been approved by the Maltese parliament.

============
https://www.spectator.co.uk/2018/03/revealed-cambridge-analytica-and-the-passport-king/

PM accepts Henley & Partners advice to ­sell more passports
Muscat and Schembri attend 11 roadshows in three years

https://www.timesofmalta.com/articles/view/20170516/local/pm-accepts-henley-partners-advice-to-sell-more-passports.648128

This Swiss Lawyer Is Helping Governments Get Rich Off Selling Passports
Christian Kalin’s business is showing poor countries they have at least one resource worth selling: citizenship.
By Jason Clenfield
March 11, 2015, 5:01 PM EDT

Christian H. Kälin is a Swiss lawyer and businessman, the chairman and CEO of Henley & Partners and is known as “Mr Citizenship” or “The Passport King”. Kälin is considered one of the world’s leading experts in investment migration and citizenship-by-investment, a field he pioneered.

#19 Hans on 09.27.18 at 4:55 pm

Not sure that any of us want Trudeau playing chicken with the Orange Baby. Let’s say he does follow through with the tariffs. Sure we can tax back, but with zero real alternatives for output, I think Garth is right and Oshawa and the likes are pooched. Sure, in time (and with bailouts and skyrocketing unemployment), Canada will be fine, but in the meantime, how do you tell the Cdn auto sector, “sorry, we’ve decided to throw you under the bus”?

#20 SimplyPut7 on 09.27.18 at 5:05 pm

Chrystia could bully the yanks into a deal. Trump could be spanked in the mid-terms. Or impeached.

—————–

Democrats put themselves in a tight bind.

If Kavanaugh nominated, their base will hate them and hurt their chance for a majority in the midterms.

If Kavanaugh does not get the seat, the GOP and conservative public will hate them and hurt their chance for a majority in the midterms. As well as bring any last minute dirt they can find on every supreme court choice they will want to nominate in the future.

I don’t know how they will vote tomorrow.

#21 Money Laundering in BC's Real Estate Market on 09.27.18 at 5:12 pm

Another screw being turned in the BC market on dodgy money?

First, a report on money laundering though casinos and the illcit flow of dollars into real estate.

Now, a full blow investigation solely on money laundering in real estate.

This could have a big impact on the ‘safeness’ of the Vancouver market for ‘investing’ and the whole demand/supply debate in Vancouver.

Lets see what they find.

https://www.cbc.ca/news/canada/british-columbia/province-appoints-task-force-to-get-dirty-money-out-of-real-estate-1.4841085

#22 GW on 09.27.18 at 5:20 pm

DELETED

#23 Victor V on 09.27.18 at 5:23 pm

TESLA is in meltdown after-hours.

https://www.nasdaq.com/symbol/tsla/after-hours

#24 House hunter on 09.27.18 at 5:32 pm

It’s crazy to see how house prices have fallen in King city compared to a detached or condo in Toronto! Looks like condos are still on the way up…

King (detached): https://pinithome.com/property/8-black-tusk-tr-king/

Toronto (detached): https://pinithome.com/property/45-lee-ave-toronto/

oronto (condo):

#25 Nutty McBluster on 09.27.18 at 5:36 pm

I say withdraw from NORAD. Let’s see how the yanks like loosing our radar stations.

#26 Smartalox on 09.27.18 at 5:42 pm

Am I the only one who sees the Trump team’s bluster re: Canada and NAFTA as a thin mask of desperation?

Trudeau’s office confirmed that he NEVER ASKED Trump for a meeting at the UN. Trump’s ‘refusal’ was just a bluff to make him look like a tough guy.

That press conference where Trump made his statement about refusing to meet with Trudeau, and his comments about Freeland has been widely received as having been a clusterF**K with a capital F. Clearly Trump is a desperate, dottering old fool.

Lightheiser and Trump spouting off in public about their problems with Canada’s negotiating style is a tactic intended to intensify public pressure on an opponent, lashing out when your bargaining position is weak. It’s the bully move, driven by fear, the subtext being that Canada is in the position of strength.

Of course, the pro-Trump lick-spittles (and their sock-puppets in this comments section) lacking courage or principle, fail to understand this.

If Trump slaps a tariff on cars made in Canada, GM will need another billion dollar bailout. Ford has already said that the steel and aluminium tariffs are going to cost it $1B in profit in 2018-2019.

Cars and trucks assembled in Kentucky and Alabama by Toyota, Subaru, Mercedes, BMW and Hyundai will all be affected.

#27 arfmoocat on 09.27.18 at 5:55 pm

Drop the 300% tariff on American dairy products or Trump will kill Canada’s auto industry.

Deal with it Canada.

#28 PeterfromCalgary on 09.27.18 at 5:57 pm

The problem is at this critical time for our country we have a Prime Minister who is dumb as a rock and a foreign minister who thinks it is ok to insult the President of the United States before a critical trade negotiation.

#29 Canada=Poor cousin of rich U.S on 09.27.18 at 6:02 pm

I wonder how people can even afford to eat in Canada?!??!

https://www.cnbc.com/2018/09/27/ubs-real-estate-bubble-index-reveals-property-crash-risk.html

#30 islander on 09.27.18 at 6:04 pm

Lotta ‘coulds’ there.
Back on terra firma ..sales in my neighborhood… resort community, north of Victoria BC, are flat. Prices are dropping, properties are being relisted, all the fast talking real estate salespeople in my local cafe have disappeared. Only sales are condos in sharply priced, quality buildings (there are a few!).
The train has left the station.

#31 dakkie on 09.27.18 at 6:11 pm

The U.S. Housing Market and Home Builders Are In Trouble — good data and chart showing 2018’s ugly housing sector. US Home Builders down most in a year since 2008.

http://www.investmentwatchblog.com/the-u-s-housing-market-and-home-builders-are-in-trouble-good-data-and-chart-showing-2018s-ugly-housing-sector-us-home-builders-down-most-in-a-year-since-2008/

#32 Guy in Calgary on 09.27.18 at 6:26 pm

Enron Musk in some trouble today. TSLA down 13.5% in after hours. It should be fun to watch that play out.

Not nearly as fun as watching Democrats rip into B. Kavanaugh’s high school yearbook. What a circus.

#33 THE asteroid on 09.27.18 at 6:27 pm

blockchain-loving platform luring in the furry, tattooed Instagram cohort with claims

Better than the flabby skinned, facebook-loving dinosaurs we call the boomers.

Millennials in their 30s elected Ford’s PCs, Boomers in their 30s elected Rae’s NDP. How’s that for entitled lol?

#34 Tony on 09.27.18 at 6:46 pm

Auto tariffs would be welcome news for anyone in Canada who has a car collection.

#35 Capt. Serious on 09.27.18 at 6:47 pm

I’m continually startled by the comments of many Canadians about these trade negotiations. First, Trump doesn’t even have the trade file, Congress does. Second, you don’t negotiate in the press, apparently a concept lost on Trump. Canada will come out of this just fine. There are too many congress people who have constituents whose jobs depend on trade with Canada to see the whole thing implode.
But Trump sure does get a lot of attention by throwing out bombastic statements, and that’s kind of the whole point as far as he is concerned.

#36 joblo on 09.27.18 at 6:48 pm

Freeland could try crying again.
It worked in Europe

#37 Migration Drives Canada’s Biggest Population Gain Since 1957 on 09.27.18 at 6:49 pm

Statistics Canada released preliminary estimates Thursday that showed the country’s population hitting 37.1 million on July 1, up 518,588 from a year earlier.

Your gig is up Justin.

Good luck in your job search in 2020.

#38 Catmandeux on 09.27.18 at 6:57 pm

#27 arfmoocat on 09.27.18 at 5:55 pm
“Drop the 300% tariff on American dairy products or Trump will kill Canada’s auto industry.”

If we give up the dairy tariff and supply management, do you think the Americans will give up the ~$22 Bln/year subsidy to their dairy industry?

https://www.newswire.ca/news-releases/american-dairy-farmers-depend-on-government-subsidies-673374473.html

#39 Eby and NDP actually care about BC people on 09.27.18 at 6:58 pm

Finance Minister Carole James is appointing an expert panel, specifically for real estate, to prevent cash from the proceeds of crime finding its way into that particular sector.

Report due in March 2019. A bit slowwww here but better than the opposite going in reverse seen under the crooked Liberals.

Must be a lot of dirty accounts to comb through.

At least Eby cares about the BC proper and is trying to fix things. This has significantly affected all BCers greatly, in one way or another.

#40 greyhound on 09.27.18 at 6:58 pm

After midterms a lot of US congressional folks will be around for 6 more years & may have a different idea about Canadian trade. Let’s wait and see.

#41 Danny on 09.27.18 at 7:07 pm

Garth….love your facts…as they are happening…..interest rates can’t go down now.

As to calling Trump……”pissy”….I prefer “Shitty”……because he doesn’t care to have the FBI investigate anything because the FBI……don’t use the belief method …….like his tribal 30% followers with closed ears do.

Trump’s hypnotized believers are too busy now saying prayers to forgive Trump…for his wrong doings…..as more and more unfolds and keep coming and coming.

Trump is disgusting in trying to quantify sexual assault or ask people to forget about it. Like he ever does forget………when he threatens to sue all the time.

Those that once said they would save the best con man are realizing their own necks are more important.

Glad that Orange Fluff…did not want to talk with Justin.

I would not want my worst enemy to speak with a mixed up confused speaking Trump nut job.

For the last 2 years every time Trump assaults people publicly…all I see is a mirror in front of his face talking about himself.

The saying “it takes one to know one “….is all about Trump.

Glad people like Garth …….keep educating us….because Trump can’t teach someone to think…with his 2 syllable words vocabulary……only “believe”

Like Garth’s critics in real estate….who ask us to believe in yourself…ignore basic math and your debt level….live life for today…..don’t care about your kids inheritance.

#42 Lost...but not leased on 09.27.18 at 7:08 pm

Like South Park movie:

Canada should bomb the Baldwin brothers again (please bullseye Alec…please !!! )

…..this will create war of 1812 (2.0) and stimulate stagnant industrial output capacity.

If US wins..then best 2 out of 3 (and”winner”… err
” loser” gets to keep nuisance parts of Canada)

#43 Nonplused on 09.27.18 at 7:08 pm

Why would Trump be impeached? Because he hooked up with a porn star? Since when did people start worrying about that sort of behavior in a president or celebrity? Or is it just democrats like JFK and BC who can get a pass on that sort of thing? I don’t know much about impeachment but I assumed there had to be a reason, they can’t just have a vote. Otherwise congress could overturn any election they wanted to. Anyway, even if they did impeach him, as fun as that would be to watch (grab the popcorn!) all that would happen is Mike Pence. No change in policies is my guess. Trump doesn’t get to write them himself in isolation.

I don’t think Canadians get how popular the anti-Canada rhetoric is in the US, both among the population and among congress. The US views itself as “the indispensable nation” with a “manifest destiny”, and they believe they have not only a right but an obligation to dictate terms all over the world. They also believe they have the military might to back that up. “Might makes right”. So if they get it in their heads they don’t like something Canada is doing, they just change it. Tariff on dairy products? Ok we’ll tax your cars. Keystone XL? Nope don’t need it we have shale. Avro Arrow? I don’t think so we’ll be building the planes. Bail out Bombardier (again)? Tariffs.

They do it all over the world. Examine if you will the Iran sanctions. The deal was settled (the nuclear agreement) but the US has decided the sanctions need to go back on until the get “regime change” and now they are sanctioning countries who have vowed to uphold the deal. So they are sanctioning European companies for doing business in Iran. They think they have unlimited reach. And they kind of do. They are planning on slapping sanctions on China for buying some S-400’s and Su-35’s from Russia. Do they really think they can tell the Chinese who they can and can’t buy military hardware from? Yes they do. Supposedly it’s to further punish Russia for interfering in the election, something that’s yet to be proven had any effect at all or if it was even done. The more likely reason is that the S-400 is a formidable air defense system, probably capable of downing stealth aircraft (no plane is completely invisible), and the Su-35 is a formidable aircraft, so they don’t want China to have them. China has predictably responded by saying “FU!”.

Making a full list of every country, entity, or person the US is currently sanctioning or imposing tariffs on would take some doing. It’s basically WWIII, only economically, and it’s the US against everybody else. Heck, they are even threatening Venezuela for I guess having a failed political system. Why on earth would the US care about Venezuela? Other than the world’s largest oil reserves of course, those would be nice to have.

Anyway, here is a list of the cars currently produced in Canada:

https://www.ic.gc.ca/eic/site/auto-auto.nsf/eng/am00767.html

You can see that other than the Civic and the Corolla, the US public might actually be better off without Canadian cars. Oh the Ford GT is in there, that is a cool car, but pretty limited production. How they can call something like that an “EcoBoost” I don’t know but that’s marketing.

Anyway, the whole tariff thing can be understood in the context of shifting the tax burden off of American workers and onto products made in other countries. I think most economists would argue that tariffs are counterproductive, but most voters are not economists.

#44 Timmy on 09.27.18 at 7:11 pm

Trudeau could show some spine? He was stupid enough to buy a 65 year old pipeline that no one else wanted, which has massive risks associated with it. How can you have any faith in his ability to negotiate a trade deal?

#45 Turtleguy on 09.27.18 at 7:15 pm

I think you guys worry to much. T2 promised to grow the economy from the heart, and that the budget would balance itself. Sound economic advice if ever I heard it! I know MY heart is singing with happiness!

#46 Sebee on 09.27.18 at 7:18 pm

#10 Ben Senise

Is there a spot for her in Atlantic City perhaps?

#47 pay your taxes on 09.27.18 at 7:20 pm

Plus Trump stated “we don’t like” Chrystia Freeland (our chief negotiator),”

That makes two of us. I can’t stand the sight of the woman. She got her a** booted out of Russia and I wouldn’t be surprised if the US is next. Maybe she turned on the fake tears for Trump like she did during the CETA negotiations. Nice to know that our PM and his lipstick wearing lackey are so deeply indebted to the milk cartel that a deal with our biggest trading partner is in jeopardy.

I saw the dollar carnage this morning then checked the news. Seeing her mug plastered across the screen was not a pleasant start to the day!.

#48 Smartalox on 09.27.18 at 7:21 pm

Slapping tariffs on Canadian cars and auto parts would hit Trumps base particularly hard – and badly:

Tennessee. Kentucky, Alabama, North and South Carolina, Michigan, Indiana are all ‘Right-to-Work’ states, where labour union membership is optional.

You’d better believe that those blue-collar workers would be the first to be laid off when those plants start paying more for parts.

If Trump slaps his tariff on when Sept 30 comes and goes with no NAFTA deal, those newly laid-off workers are going to blame him as their pogey runs out just in time for the US midterm elections.

#49 Canada=Poor cousin of rich U.S on 09.27.18 at 7:22 pm

No matter how much canadians jump and growl there is NOTHING they can do against U.S. The U.S is a super power and Canada? well it is just Canada. Sorry folks – reality. :)

#50 Smoking Man on 09.27.18 at 7:23 pm

Kavanaugh clinches. 100% will be confirmed.

Dems are finished. Total insane shit show. Even my lefty, bleeding heart wife was outraged by his treatment and the kid gloves that ford got.

#walkaway. #redwave

#51 paulo on 09.27.18 at 7:24 pm

#27:
be carfull what you support: The Amarican auto industry will also take a fatal blow in adition to a couple of others
pharma comes to mind. fact of the matter is that dairy represents a small fraction of the trade involved in the nafta. the usa currently has a 12 billion dollar trade surplus with canada that and far more will vanish if stupid orange dude carries out his threats.

#52 the ryguy on 09.27.18 at 7:28 pm

#7 Ace Goodheart on 09.27.18 at 4:10 pm
————————————————

It amazes me how folks like Ace never get tired of being proven wrong about Trump. “Trumps an Idiot, hes just dumb”

How dumb do you have to be to really believe that? You may not like the guy, but lets at least try and have some perspective.

So Trump works out a deal with Mexico, which by all accounts that Ive read is very much a win win for both Mexico and the US…yet President Trump is still the idiot?

And you really think Canada could produce more cars without the US as customers? Good lord that is delusion. With our outrageous taxes and labor costs..ha, NO CHANCE..zero. Where could we possibly ship cars to that has all of the following?

A) large enough population of consumers
B) Higher production costs than ours plus the added cost of shipping
C) No tariffs

Any lose of ours would be Mexicos gain. Domestics would not be 25% more for yankees..they would be manufactured under the new (and again apparently fair) deal Trump made with Mexico or in the god ol US of A. You really think our paltry 40M consumers have any shot at maintaining auto plants when compared with the over 450M consumers in US & Mexico combined? Please, we would be an after thought, new facilities would be erected within 18 months south of Canada.

But sure Trumps an idiot..meanwhile our leader wants to make sure we tax carbon and that every office has a trans/lqbzyx because if not “RACIST”. Grow up dude, or go sit at the kiddies table with Justin.

#53 crowdedelevatorfartz on 09.27.18 at 7:31 pm

@#36 joblo

Freeland cried in Europe?
Were the transgendered washrooms out of toilet paper?

#54 pay your taxes on 09.27.18 at 7:36 pm

This website sets off a “canvas fingerprint” defender extension on my Firefox browser. Are you fingerprinting us Garth?

#55 IHCTD9 on 09.27.18 at 7:37 pm

The Canadian Auto industry has been wilting for 20 years. We did the paint tanks for the truck line in Oshawa way back (back when Oshawa did RWD vehicles). They had 15,000 employees back then, now they have around 2500.

Stelco in Hamilton used to supply all the pre-prepped steel to the Ontario industry back in the day, we did the hoods on their roof when that line went in. That steel was Stelco’s bread and butter. When US Steel washed it’s hands of Stelco a few years back, it took all that steel production back to the US.

Now, the same steel that used to be made up here is now imported From the US. Cars are mostly made of steel and aluminum – both get slapped with Canadian tariffs of 25%.

If NAFTA goes ahead with Canada on board, Trudeau better undo that tariff if he doesn’t want to basically kill Ontario. The auto industry in Canada is going to die anyway, but the slower it dies, the easier it will be to absorb the damage.

#56 AB Boxster on 09.27.18 at 7:38 pm

T2 and has band of lefties have been too busy with liberal values stuff to worry about silly trade deals.

I mean it takes a large amount of concerted lefty effort to defend the
monster woman, who bludgeoned little eight year old Tori Stafford to death with a claw hammer.

Liberals have their priorities, you know.

#57 Ian on 09.27.18 at 7:39 pm

This super bad news for the BoC. The last thing they want is the rate rise train to keep going.

#58 BS on 09.27.18 at 7:44 pm

35 Capt. Serious on 09.27.18 at 6:47 pm

I’m continually startled by the comments of many Canadians about these trade negotiations. First, Trump doesn’t even have the trade file, Congress does.

So it was Congress that put the aluminum and steel tariffs on Canada? How about that $200 billion just slapped on China?

Note Congress is Republican and likely will be after November. Besides many Democrats have supported Trump on the tariffs. Trump will win. Always does.

#59 palebird on 09.27.18 at 7:45 pm

#28 “The problem is at this critical time for our country we have a Prime Minister who is dumb as a rock and a foreign minister who thinks it is ok to insult the President of the United States before a critical trade negotiation.”

I concur

#34 “Auto tariffs would be welcome news for anyone in Canada who has a car collection.”

uh huh

#36 “Freeland could try crying again.It worked in Europe”

Crocodile tears here we come

#60 Vancouverless on 09.27.18 at 7:46 pm

With respect to NAFTA, I know some of the local biotech and tech companies here in California are getting a bit worried because of the TN-1 visa workers they have. Based on personal experience, there as has been active discussion amongst the smaller biotech companies of making some sort of unified statement in support of NAFTA. The visa process and relatively stability compared to other work visa routes makes Canadians an “easy” option. The relatively high quality training, lack of language barrier, and similar work cultures also are seen as benefits of doing the TN-1 thing over the H1B by American employers.

Although if you just want code monkeys or biotech process specialists to flog from India or China, the H1B program is the way to go.

#61 IHCTD9 on 09.27.18 at 7:47 pm

#35 Capt. Serious on 09.27.18 at 6:47 pm
I’m continually startled by the comments of many Canadians about these trade negotiations. First, Trump doesn’t even have the trade file, Congress does.
———-
What if Congress is Republican?

Still startled?

Second, you don’t negotiate in the press, apparently a concept lost on Trump.
———-
Why not? The metoo movement does so with great success.

Canada will come out of this just fine. There are too many congress people who have constituents whose jobs depend on trade with Canada to see the whole thing implode.
————
Is there now… Is that a fact? Auto jobs have been leaving Canada for right to work states for nearly 20 years. I bet there are plenty of constituents who are just delighted with this trend.

But Trump sure does get a lot of attention by throwing out bombastic statements, and that’s kind of the whole point as far as he is concerned.
———-
Agreed.

#62 In Garth We Trust on 09.27.18 at 7:49 pm

“This week the high-end house floggers at Sotheby’s said the GTA luxury market was rocking.”

Could they be referring to this $59 million gem Garth?

https://sothebysrealty.ca/en/property/ontario/greater-toronto-area-real-estate/oakville/327880/

#63 crowdedelevatorfartz on 09.27.18 at 7:49 pm

@#10 Ben
““…and recall Celine Dion”

we already have:….

+++++

Please dont tell me Justin Beiber is next………

#64 Terry on 09.27.18 at 7:49 pm

“Chrystia could bully the yanks into a deal. Trump could be spanked in the mid-terms. Or impeached.”

“Chrystia bully the yanks?” LOL…..thanks for the comedy Garth.

“Trump Impeached” will not happen. In fact he will win again in 2020!

“Spanked in the Midterms” Mr Trump will actually gain seats in Congress and the House!

The U.S. Department of Commerce has submitted the auto tariff’s impact report to Mr Trump’s desk already. I expect the auto tariffs will be implemented by early next week.

Good luck Canada.

#65 Mathew S Gibson on 09.27.18 at 7:53 pm

Freeland and Trudeau are rocking the negotiations. They have totally outplayed Trump, whose hollow bluster has never phased them.

Scheer would have collapsed like the soufflé he is.

#66 IHCTD9 on 09.27.18 at 7:55 pm

#51 crowdedelevatorfartz on 09.27.18 at 7:31 pm
@#36 joblo

Freeland cried in Europe?
Were the transgendered washrooms out of toilet paper?
————

Lol! It’s just too easy with these Lib birdbrains in Ottawa.

When Trudeau is gone, I’m really going to miss the thousands of opportunities for e-laughs. :)

#67 Chairman Mao on 09.27.18 at 7:55 pm

#8 Ace Goodheart

“So yeah Americans have filled up their lives with cheap, foreign produced consumer products. So now they can pay union wages for stuff built at home instead.”

Spot on Mr. Goodheart. The quid pro quo agreement between the US and China was simple. China buys US debt, America uses the money to buy cheap Chinese goods. The US voluntarily gutted its manufacturing and moved it to China and other low wage nations. That was the trade off but Herr Trump hasn’t appeared to have gotten the memo…

#68 AK on 09.27.18 at 7:59 pm

#48 Smoking Man on 09.27.18 at 7:23 pm
“Kavanaugh clinches. 100% will be confirmed.
Dems are finished. Total insane shit show. Even my lefty, bleeding heart wife was outraged by his treatment and the kid gloves that ford got.”
=====================================
Every time the Dems get a bullet, they shoot themselves in the foot with it.

#69 Craig on 09.27.18 at 8:02 pm

Does anyone dare to short linamar?…. Lol

#70 US = Gun deaths, Huge Underclass on 09.27.18 at 8:06 pm

#47 Canada=Poor cousin of rich U.S on 09.27.18 at 7:22 pm
“No matter how much Canadians jump and growl there is NOTHING they can do against U.S. The U.S is a super power and Canada? well it is just Canada. Sorry folks – reality. :)”

A superpower that has a huge underclass, the highest gun death rate in the world, no universal health care and on and on. I have lived in your beloved USA and you can keep it. I’ll take Canada any day of the week. To boot, compare cities of comparable size like Toronto and Chicago. Cabbies warn you of what parts of Chicago you need to avoid if you want to emerge alive. Turned on the tv and heard the local news on a business trip. 60 shootings over the weekend…

#71 Stone on 09.27.18 at 8:06 pm

#60 In Garth We Trust on 09.27.18 at 7:49 pm
“This week the high-end house floggers at Sotheby’s said the GTA luxury market was rocking.”

Could they be referring to this $59 million gem Garth?

https://sothebysrealty.ca/en/property/ontario/greater-toronto-area-real-estate/oakville/327880/

————

I think IMBY should invest in this. Tear it down and then build something for $4 million. LOL

Wow! They have their own chapel. I’m actually impressed with this property. Go! IMBY! Go!

#72 Thankfully renting on 09.27.18 at 8:08 pm

Milk at Costco in Idaho, $3.85 for TWO gallons.
Milk at Costco in BC, $4.85 for 4 liters.
But hey, as long as the Saputo’s are happy.

#73 Bytor the Snow Dog on 09.27.18 at 8:09 pm

#7 Ace Goodheart on 09.27.18 at 4:10 pm sez:

“Trump has limited to no understanding of the manner in which his American auto manufacturers have integrated their assembly operations across the Canadian and US borders.

He will soon learn all about this, probably shortly after he “taxes cars coming across the border”.

His country’s cars come across our border too. So do auto parts, back and forth in a manner that makes sense only to the manufacturers.

The USA cannot sell their cars in Europe, because the Europeans will not buy them. Go to Europe and you’ll see why (try to drive a Lincoln Navigator down the narrow streets of Paris, and see how long until you get stuck between two parked cars or a building).

The USA cannot sell its cars in most of South East Asia, for the same reason.

They sell to us, primarily, with a smaller export market made up mostly of used cars heading down to Mexico and South America.

So if you stop the flow of cars across the Canadian US border, then you have two problems:

1. You bankrupt the US auto industry. It will be worse than 2008. GM, Ford and Chrysler will require bail outs.

2. You increase the cost of the North American built car. This of course is akin to being a moron and an idiot at the same time. Because, as soon as the Chevy Cruze gets more expensive than the Honda Civic, everyone will buy Honda Civics. As soon as a VW SUV costs less than a Ford Edge, everyone will buy VW SUVs.

People buy North American cars because they are cheap. No one is going to pay 25% more for a Ford or a Chrysler. They will just buy a Japanese, Korean or European car.

Trump is massively uneducated and uninformed, and he does not seem to even understand that. It is one thing to be deliberately uninformed. It is another to simply not even know the information exists.

So he can go ahead and tax cars. We’ll tax their cars. And then we’ll assemble cars here for sale here and export elsewhere, more than likely still for foreign companies, but probably not for US owned companies anymore.”
—————————————

This has to be the biggest piece of uneducated drivel I have ever seen. Pray tell, Ace, how many domestic Canadian auto makers are there? Hint: None

The Canadian market for US Based manufacturers is less than the market of the state of California. It”s inconsequential. The loss of all of the auto ASSEMBLY jobs in Ontario would be a yuge blow however. Sure, we can all buy Japanese, Korean, and European cars except none of us would have jobs.

This is NOT a negotiation between equals. Trudeau and his incompetent minion Freeland need to smarten the fuck up for Canada’s future.

#74 NAFTA will be ok on 09.27.18 at 8:14 pm

Trump is just playing the bad cop and the rest of the US is pretending to play good cop. Auto tariffs and tariffs in general would hurt the US as well. Big money doesnt want that on both sides

#75 Dolce Vita on 09.27.18 at 8:14 pm

Suffice to say, there are many that post here that do not understand how money flows thru an economy. NAFTA is dead and you can blame the hapless, arrogant, say nasty things about Trump, obsess about gender and SJW minutiae T2 Gov. for that.

If ON auto goes down and jobs are lost, think it thru on the impact that will have not only on ON RE but on the economy.

Fewer minerals mined and processed for auto, less need for plastics and their refining and processing, fewer imports at ports, a dollar that will plunge by at least 10% fueling inflation (rates will go up further), lower tourism, lower service sector spending like restaurants, clothing, and the list goes on.

And the above does not even consider the psychology of such a thing. Recessions have always been half economy and half psychology.

UNSINKABLE GARTH is now saying what I have said 1.5 years ago would happen right about now (took you awhile to come around to it Garth).

Rates will cripple RE, that is a given and the next phase is sharp price drops. Always has been, always will be. But you can bury your head in the sand if you wish. History in this repeats. Don’t believe me, read:

A Template For Understanding Big Debt Crises By Ray Dalio

for those of you that worship billionaire hedge fund guys. He’s examined 48 of these cycles in the past century or so. Oddly, he is a down to earth, polite, plain speaking, thoughtful person that gives evidence, lots of it.

If auto is tariffed with 130,000 jobs at stake, Canada (including BC that thinks itself immune as its own sovereign nation) will be in recession.

It will take a DECADE to come out of. And that is because of our huge debt load as a nation and a historic, gigantic peak of a RE bubble.

By mid-summer, if auto tariffs, 2019 will be our Annus Horribilis but a great year for the US Treasury with the proceeds.

Thank the Drama Teacher and his stab in the back Napoleon Complex Minister.

#76 the ryguy on 09.27.18 at 8:15 pm

#68 US = Gun deaths, Huge Underclass on 09.27.18 at 8:06
———————————————————————

I wonder if anyone has ever looked into gun deaths statistics when comparing traditionally red V blue states?

Give it a google if you care too, although based on your obvious leanings you certainly wont care for the answer. Have a lovely day.

#77 crowdedelevatorfartz on 09.27.18 at 8:19 pm

Dear Elon
Please dont joke about buying all the stocks back…..it may end up costing you billions.

http://business.financialpost.com/news/fp-street/sec-sues-elon-musk-for-misleading-investors-over-taking-company-private-tweet

#78 Lost...but not leased on 09.27.18 at 8:20 pm

Re: Canadian Auto Industry

When Canada membership in the Commonwealth actually meant something… the auto industry was able to export to other Commonwealth countries with literally ZERO tariffs.

The USA auto industry took note, aka realizing the loophole of accessing these aforementioned markets via having Canadian subsidiaries.

It appears that this clearly subsidized advantage is or near KAPUT.

Adjust accordingly.

#79 Raging Ranter on 09.27.18 at 8:20 pm

@#65 Chairman Mao, China doesn’t hold nearly as much US debt as people seem to think. Of the almost $20 trillion in US federal debt as of January 2018 China held $1.17 trillion which is barely more than Japan’s $1.07 trillion. Big numbers to be sure, but China has no special leverage over the US via the US T-bills they’re holding. It’s not like they can dump that debt without inflicting severe self-harm.

#80 the Jaguar on 09.27.18 at 8:21 pm

Chrystia Freeland. She is a powerhouse intellect. From Alberta, after all. Oxford, Harvard, & whatnot, but more importantly has a solid amount of “grit’ running through her veins. Another Alberta trait, of course. However, she can be distracted by the opportunity to take pot shots at Russia and Putin, and likes media ops on any “women’s issue” that darts across the road in front of her. I like my politicians focused like lasers, which explains my affection for Nigel Wright. The Jaguar will give her a B plus on high energy intellect, passion around issues she believes in, and tenacity in the eye of the hurricane. If I named her animal equivalent it might be ‘badger’. Every team can use one of those. She could use some coaching on fashion. Seems to have finally ditched that black dress that stared out in funeral like mediocrity from every media photo all summer. But black rubber sport watches worn with pearls strike the Jaguar as too fashion “Picasso”. She gets a C in that category. Overall I am going to say I am proud to have her represent us in the negotiations for NAFTA.
Speaking of animal equivalents, it’s fall now and a current photo of the spirit dog drapping himself in a new nature pose is long overdue. Is Dorothy on vacation or something?

#81 Raging Ranter on 09.27.18 at 8:27 pm

@ #47 Canada=Poor cousin,

The US does not exist in a vacuum. It signed NAFTA in 1994 because the agreement had mutual benefits for all three countries. Trade wars inevitably reduce trade volume and thus hurt all trading partners. Canada might well get the worst of it if NAFTA collapses, but the US won’t escape unscathed. Like it or not, the US has an open trading economy, and trade barriers will hurt. Google Smoot-Hawley if you have any doubts.

How’d you enjoy the consumer price inflation of the 1970s? Get ready for a return of inflation – in both Canada and the US – if trade barriers become a thing again. All that asset price inflation we’ve seen over the past decade will quickly move into consumer goods and services if trade barriers start going up. Just because Canada might lose worse (like we did in the 1970s) doesn’t mean the US wins. Not by a long shot. Trade wars and trade barriers make losers out of everyone, including your megalomaniac leader.

#82 Bytor the Snow Dog on 09.27.18 at 8:28 pm

#37 Catmandeux on 09.27.18 at 6:57 pm sez:

“If we give up the dairy tariff and supply management, do you think the Americans will give up the ~$22 Bln/year subsidy to their dairy industry?”
——————————————
Who cares? If the American taxpayers make dairy and cheese cheaper for me I’m all for it.

#83 Dolce Vita on 09.27.18 at 8:31 pm

And, further to my prior tirade I forgot to mention:

This time around, AB and its wealth and job generating oil & gas industry will not be around to bail the butts out for the Cdn. economy.

You can thank BC and its neo Marxist local yokel save the trees, bees, snails and whales minority trying to create their own “private habitat” at the expense of millions of other people in the country.

True, oil price are going up but with discounts also increasing on AB crude, it benefits only marginally from that.

Also why if ON auto is tariffed, it will take 10 years to come out of the recession thereafter.

RE is already a done deal, the “amateur RE investing” MSM funded by RE advertising is loathe to report it and will only do so when it is too late and obvious to everyone what has happened.

October 2019 cannot come soon enough.

#84 John on 09.27.18 at 8:32 pm

“Kavanaugh clinches. 100% will be confirmed.

Probably. But anyone with half a brain,, which obviously leaves you out could see the guy is a bit unhinged. For a nominee for Supreme Court he was obnoxious, nervous, and could not even come up with a reason why the FBI should not investigate. Guy folded under the pressure. Definitely not worthy of Supreme Court.

#85 Doug t on 09.27.18 at 8:33 pm

Sh*t meet fan

RATM

#86 Juve101 on 09.27.18 at 8:41 pm

Garth,
You predictions always seem to make a lot of sense. But then when they don’t materialise, you go silent? Where are for example all those houses forced on the market by people unable to meet their mortgage renewal rates? 80% (was it 80%?) of all mortgages have been up for renewal recently you’ve been telling us.

Why would they be forced to sell when remortgaging? You must be thinking of some other pathetic blog. – Garth

#87 Canada=Poor cousin of rich U.S on 09.27.18 at 8:46 pm

68 US = Gun deaths, Huge Underclass >>

U.S= The entire world wants to live in. One of the best weathers in the world. A large variety. Extremely affordable housing. Lower taxes, much cheaper and better quality products than Canada. Warm people.
LAND of OPPORTUNITY. You only need to have a dream.
World class medical care for those who like to work. ;)
Daring people and enterprising. Business opportunities like no other country in the world. A hub of medical and many other researches in the world. Go getters that that sit on their ass and moan and complain about things. The list is unending so I will stop !! hehehehehe

#88 Bytor the Snow Dog on 09.27.18 at 8:49 pm

#46 Smartalox on 09.27.18 at 7:21 pm sez:
“Slapping tariffs on Canadian cars and auto parts would hit Trumps base particularly hard – and badly:

Tennessee. Kentucky, Alabama, North and South Carolina, Michigan, Indiana are all ‘Right-to-Work’ states, where labour union membership is optional.

You’d better believe that those blue-collar workers would be the first to be laid off when those plants start paying more for parts.

If Trump slaps his tariff on when Sept 30 comes and goes with no NAFTA deal, those newly laid-off workers are going to blame him as their pogey runs out just in time for the US midterm elections.”
—————————————————
Are you really this stupid? More likely the plants would just move to those lower cost places in the U.S.

Jeezus are Anti- Trumpers this bad?

#89 Fish on 09.27.18 at 8:51 pm

@41 Nonplused on 09.27.18 at 7:08 pm

Anyway, here is a list of the cars currently produced in Canada:

https://www.ic.gc.ca/eic/site/auto-auto.nsf/eng/am00767.html

***************
interesting thankyou

#90 Blacksheep on 09.27.18 at 8:55 pm

Cat # 37,

“If we give up the dairy tariff and supply management, do you think the Americans will give up the ~$22 Bln/year subsidy to their dairy industry?”
———————————
I think your confused as to what’s actually taking place here. Do you for some reason, expect a fair and equitable deal that benefits both countries?

The US will come out on top in this, because they have
the leverage. Socks should have been smart enough to bury his ego after his ridiculing Trump as he left Canada and “kiss the ring” as someone here so eloquently said.

We are going to lose in this trade agreement, that is a simple fact, the goal is to minimize the economic damage to Canada, until Trump is gone and then try to reset the agreement at that point.

#91 crowdedelevatorfartz on 09.27.18 at 8:56 pm

@#78 the Jag
“Chrystia Freeland. She is a powerhouse intellect. …”
++++
I dont think her intellect is the issue.
Just because she’s brilliant doesn’t mean she’s a good negotiator.
Her negotiating tactics leave much to be desired.
Before the negotiations, Lighthouzer and the US team specifically agreed with the Canadians and Mexicans NOT to negotiate through the media……
Freeland has been constantly giving media scrums about the day to day negotiations…. THAT doesnt foster a lot of trust.
She has also continuously baited Trump with public speeches critisizing him…..and while her critsisms are probably 100% correct…..not too bright to insult and anger the leader of a country you’re trying to sign an important trade agreement with….
So, NAFTA will stall,
Trump will bluster, and pontificate and Canada will suffer.
Does Trump care? Not really.
Will Trudeau squirm on a pike and try and save face as he walks into his last year before an election….?
Who knows.
Either way, Ms Freeland should be dusting off her resume…..

#92 the ryguy on 09.27.18 at 9:02 pm

#82 John on 09.27.18 at 8:32 pm
—————————————

Lets let the media say you were the leader of a roving gang rape squad 36 years ago and see how you handle it.

#93 Smoking Man on 09.27.18 at 9:17 pm

John on 09.27.18 at 8:32 pm
“Kavanaugh clinches. 100% will be confirmed.

Probably. But anyone with half a brain,, which obviously leaves you out could see the guy is a bit unhinged. For a nominee for Supreme Court he was obnoxious, nervous, and could not even come up with a reason why the FBI should not investigate. Guy folded under the pressure. Definitely not worthy of Supreme Court.
…..

The same FBI witch hunting Trump. This was a calculated smear job. I believe ford was truthful with the exception of who did it to her.

Two dudes have come forward and said, that was us. Complete MSM black out.

It was a shit show to fire up the Democrat base for the midterms.
It’s going back fire huge.

#94 THE asteroid on 09.27.18 at 9:23 pm

67 Craig on 09.27.18 at 8:02 pm
Does anyone dare to short linamar?…. Lol

Did I miss a joke here? Why short linamar? they have plants all over the world.

#95 dzh on 09.27.18 at 9:26 pm

#84 There definitely was a thing about the percentage of overall mortgages requiring renewal under the new OSFI terms (i.e. B20) during 2018 and the predicted subset of these which would result in forced sales. I don’t recall an 80% number though…

OP – If Trump ends NAFTA, blue state governors who are even remotely affected will sue and some 9th circus judge will hold any rescission pending appeal which will inevitably wind its way up to the SCOTUS… By the time all that happens Trump needs to 1) hold congress 2) dodge and parry Mueller 3) get no grief from AMLO in Mexico 4) still have a T2 govt in power to squabble with …

I mean, I guess it could happen, sure… but it’s premature to put an expected value or probability on this. YMMV.

#96 MF on 09.27.18 at 9:27 pm

Canada=Poor cousin of rich U.S on 09.27.18 at 8:46 pm

Where were you in 2008?

It’s easy to look down and laugh from the top of the business cycle eh?

MF

#97 Poor Cousins? on 09.27.18 at 9:37 pm

RE # 47

The US has the second highest debt in the world behind only Japan. On a per capita basis , the United States is significantly more in debt than Canada.

#98 Doug t on 09.27.18 at 9:37 pm

Confession – I worked at GM in St. Catharines from ‘85 to ‘93 – for the love of dog to NOT buy a GM product – we made the worst product while I was there – the amount of weed and booze consumed during shifts was unbelievable – supervisors didn’t give a rats ass either – the union destroyed productivity lol – some of the peeps I worked with just retired (from Oshawa) within last few years and say things aren’t much different

RATM

#99 jess on 09.27.18 at 9:42 pm

lindsey graham
methinks wants to be the att. general!

=========
But what has lindsey graham done for his s. carolina citizens regarding the environment ???
a state with 4 reactors and superfund sites / 2 nuke plants cancelled

Federal regulators also are keeping an eye on four S.C. nuclear power stations, as well as nearly a half-dozen federal Superfund cleanup sites.

S.C. residents like Mary Jackson Kirkland and Andrea Williams hope the heavy rains don’t overwhelm polluted sites like the one near their homes, southeast of Columbia.

That site, the Westinghouse nuclear fuel factory on Bluff Road, has a more than 30-year history of groundwater pollution that many people just learned about this year.

This past summer, uranium leaked through a hole in the plant’s floor, contaminating soil with high levels of the radioactive pollutant. Regulators later said they discovered uranium leaks had occurred as far back as 2008, previously unknown to the public. Uranium is a toxic radioactive material that can cause kidney damage in people exposed to large enough amounts.

https://www.greenvilleonline.com/story/news/2018/09/15/tropical-storm-florence-pollution-threat-looms-south-carolina/1316646002/
https://svi.cdc.gov/Documents/FactSheet/SVIFactSheet.pdf
The Social Vulnerability Index (SVI)

#100 OttawaMike on 09.27.18 at 9:49 pm

A couple of points about the CDN auto sector:
We enjoy the advantage of public healthcare. Big savings to manufacturer not having to cover $700/month healthcare.

Many of our parts manufacturers are competitive. Magna is non union and we have a solid 100 year history of automotive engineering here.

Our car market is significant. Americans buy 17 million vehicles/yr but we also buy 1.5 – 2 million vehicles. Toyota and Honda have a significant manufacturing presence here and if America limits our exports, these cars will sell on the global market unlike Cameros and Silverados.

#101 MF on 09.27.18 at 10:02 pm

The whole thing is overblown. Trump is playing it up for his midterms. He is trying to appear “tough” to his base. T2 is keenly aware of the Quebec dairy farmer issue, and it’s impact on the upcoming federal election.

Trump is using strong arm bully tactics and T2 is playing a war of attrition.

The whole thing is becoming unnecessarily emotional, with anti Canadian US morons and anti American Canadian fools coming out of the woodwork all around.

Ignore both these morons.

A deal will be reached soon. Canada is not China. It’s not Mexico either. We are an integral ally and always will be. We are a similar country with a similar economy and a similar culture. Free trade between Canada and US is obviously beneficial for both our countries. Trump is just using this issue as a convenient rallying point. T2 is doing the same.

Ignore the noise I say.

MF

#102 Dee on 09.27.18 at 10:05 pm

We are in the early stages of a potentially major recession/financial crisis in Canada….thanks to real estate. Yay. I just hope our dollar doesnt get decimated

#103 Triplenet on 09.27.18 at 10:06 pm

…..engines at full throttle, flaps up – may result in pilot error. In his case he may very well need 20% flaps as there are sure to be obstacles ahead.
He needs lift.
Full steam ahead – but watch for icebergs.

I hope it’s not Ms. Freeland in a mini skirt.

#104 Slowly Boiling Frogs on 09.27.18 at 10:27 pm

Lots of people keep throwing around the term IMPEACHMENT without understanding how it works.

You can only impeach a sitting president for something he did while in office. No matter what crime he may have committed prior to his inauguration, once he is president he cannot be impeached for any of them. He can be charged for things, but that is different than being impeached.

#105 Shawn Allen on 09.27.18 at 10:29 pm

U.S. Strength and the Business cycle

#94 MF on 09.27.18 at 9:27 pm responded to:
Canada=Poor cousin of rich U.S on 09.27.18 at 8:46 pm

and asked:

Where were you in 2008?

It’s easy to look down and laugh from the top of the business cycle eh?

MF

************************************
That is a good point! Was that the year that California was so broke it issued some kind of weird new IOUs as tax refunds? I think it was in 2008 that on this blog I was toying with some Americans by saying that Alberta had dibs on buying Arizona. And it did not seem so ludicrous at the time. They were really hurting in 2008 and 2009.

The present always feels permanent and like it is lasting forever. But wait ten years and the conditions in any one year often look like a mere blip on the chart.

#106 The real Kip on 09.27.18 at 10:33 pm

If the man/child Trump doesn’t like Chrystia Freeland then that’s a good reason to leave her right where she is. Also, the PMO has clearly stated that no meeting was requested by the PM but somehow I think you already knew that.

#107 Ace Goodheart on 09.27.18 at 10:37 pm

Tesla’s in trouble.

The profitless company built on dreams and fairy dust is about to lose its chief magical make believe officer.

Without Elon they’re just a tent based car company with a dumpster full of failed automated assembly line equipment and enough debt to sink an air craft carrier.

How one badly organized small car plant came to be worth 47 billion dollars will be the stuff that history books are written about.

My one question is how does a CEO of a public company manage to make an announcement to the world as to a potential buy out of his organization, apparently as a joke to his girlfriend, without having to go through his legal department to vet the announcement?

Legal would have cut the head off of that tweet in an instant.

It is amazing that no one vetted it

#108 Hamsterwheelie on 09.27.18 at 10:39 pm

#8 Ace Goodheart – exactly! Don’t mess with American consumerism, they (and we) are used to paying very little for everthing from food to cars to houses – turn that upside down and methinks the prez will be hung with his own petard!

#109 lionsroarin64 on 09.27.18 at 10:51 pm

Urgency or expediency? Vaughn Palmer, the Vancouver Sun’s provincial affairs columnist, questions the math and motives behind the BC NDP’s ongoing money laundering and real estate investigation.

In doing so, he mirrors many of the points raised months ago on this mighty fine blog: http://tinyurl.com/y8h9ezer

#110 crowdedelevatorfartz on 09.27.18 at 11:05 pm

@#101 triplenet
“I hope it’s not Ms. Freeland in a mini skirt.’
++++

A visual I did not need…..

#111 not so liquid in calgary on 09.27.18 at 11:21 pm

If NAFTA dies, do we go back to being the “branch plant economy” that Canada was, pre-NAFTA? Auto Pact anyone?

#112 yvrguy on 09.27.18 at 11:34 pm

Hey Flop… You out of a job??

http://dailyhive.com/vancouver/zealty-interactive-real-estate-map-canada-bc

#113 Myra Andrews on 09.27.18 at 11:38 pm

Stats for Greater Vancouver from realtor Paul Boenisch

Sept 27 New 184 Sold 81 TI:13755
Sept 26 New 236 Sold 78 TI:13,724
Sept 25 New 270 Sold 127 TI:13,649
Sept 24 New 288 Sold 142 TI:13,586

Sept 21 New 171 Sold 63 TI:13,574
Sept 20 New 218 Sold 81 TI:13,538
Sept 19 New 227 Sold 99 TI:13,472
Sept 18 New 266 Sold 99 TI:13,418
Sept 17 New 360 Sold 93 TI:13,339

Sept 14 New 143 Sold 85 TI:13,239
Sept 13 New 225 Sold 58 TI:13,240
Sept 12 New 268 Sold 90 TI:13,147
Sept 11 New 325 Sold 77 TI:13,057
Sept 10 New 487 Sold 87 TI:12,916

Sept 7 New 197 Sold 87 TI:12,681
Sept 5-6 New 609 Sold 195 TI: 12,653
Sept 4 New 498 Sold 53 TI:12,439

Inventory at the end of August was 12,510

#114 Karlhungus on 09.27.18 at 11:41 pm

I’m in a variable rate mortgage, prime minus .6. I’ve inquired about locking in, lender said I could lock in for 5 years at 3.59%. Should I?

#115 paulo on 09.28.18 at 12:41 am

The art of the deal:
thinking that freeland and team are doing a fine job,and have the orange team on the defensive.

#116 Balraj Dhalandar on 09.28.18 at 12:57 am

Check this property Garth.

33 – 7138 210th Street, Langley.

Can anyone imagine buying a townhouse for $1,038,000?

That’s how much this one sold for.

Buying in crappy Langley 50 kilometres from Vancouver.

#117 Deplorable Dude on 09.28.18 at 1:03 am

For those saying Trump can’t pull out of NAFTA without congress…..you are missing one minor point…

Mexico will pull out first…..

They’ve already virtually completed their new bilateral agreement with the US…once they leave it’s game over.

Trump isn’t being impeached. Rosenstein is at the White House tommorrow I believe….to negotiate the terms of his surrender…which no doubt will include gracefully shutting down the Special Council.

Trump will then likely release the unredacted FISA application against Carter Page…which will unleash the evidence of the attempted coup against the President involving not only a high level group in the FBI/DOJ but also the UK and Australian intelligence agencies.

The Dems will be crushed in the mid-terms.

If you want accurate polling on the mid terms and are on twitter….follow this pollster @Peoples_Pundit…he nailed the 2016 election, doesn’t massively oversample democrats as the MSN does. He’s currently forecasting the GOP Senate pick up 5-6 additional seats, and hold the House, maybe flipping one or two seats there.

#118 Smartalox on 09.28.18 at 1:05 am

@Bytor the Snowflake (#86)

It may be that US auto plants will adjust, and move production to Mexico, but that move will not happen between the time when new tariffs are applied (October 1st) plants start cutting shifts (October 4 to 8) , laid off worker’s pogey runs out (October 24th) and the US midterm elections scheduled for November 6th.

That’s why Canada is calling Trump’s bluff.

#119 DON on 09.28.18 at 1:26 am

#73 Dolce Vita on 09.27.18 at 8:14 pm

If auto is tariffed with 130,000 jobs at stake, Canada (including BC that thinks itself immune as its own sovereign nation) will be in recession.

*************
Wait a minute, my BC License plate says “Best Place on Earth” but more choices are becoming available like ‘Money Launders R Us’ and ‘Mary Jane’s Birthplace’ (copyrighted).

Seriously, with a weakened dollar wouldn’t tourism increase a little? We could always become part-time (summer months) eco tour guides and federal oil spill workers.

The scary thing is what’s no longer happening.

NO longer are people loudly boasting about real estate at work and in public places (it’s as if everyone is holding their breath). It seems ignorance is bliss at this point – works until reality hits. I have yet to see any reference to the Australian housing correction in any of the mainstream Canadian media outlets. You’d think that a 9 Month slide in prices with no end in sight would be a story or a tale of what’s to come.?

Psychology is up next! Key ingredient – Financial pressure. I think I ‘ve seem this movie before as a kid. What am I thinking…it was different back then. But then again it was the age of beards and plaid work shirts and trucker hats.

#120 DON on 09.28.18 at 1:34 am

Had a dream last night!

Our Prime Minister was riding a dairy cow to Washington with a shirt saying vote for me Quebec.

I will always buy my milk locally.

#121 Nonplused on 09.28.18 at 1:54 am

#95 Poor Cousins?

So what (that the US is in debt)? They will write it off when it suits them. A whole host of countries have just defaulted on debt before, and they didn’t have 11 aircraft carriers. When the US decides (if they decide) to default, ain’t nothing nobody is going to do about it.

#122 AGuyInVancouver on 09.28.18 at 1:59 am

#41 Nonplused on 09.27.18 at 7:08 pm
Why would Trump be impeached? Because he hooked up with a porn star? Since when did people start worrying about that sort of behavior in a president or celebrity? Or is it just democrats like JFK and BC who can get a pass on that sort of thing? ..
_ _ _
Get a pass? You do realize Bill Clinton was impeached. And that Judge Crybaby Kavanaugh worked with the special prosecutor that went after Clinton like a rabid pitbull.

#123 wayne's bro on 09.28.18 at 2:55 am

Freeland- what is it about her that just makes me hate her so much? Am I a sexist pig? I don’t think so.
It is
1) Her idiocy in cutting short negotiations with a big egoist to attend a rally to talk against him.
2) Her voice is terrible to listen to. Also her style of talking, which feels like a recitation of talking points.
uh/…next point…uh…next point…uh..etc.
3) She reminds me of a civil servant boss- not particularly talented but on top of every SJW issue.
4) Fashion sense (less).
5) Her “take charge” body language. In a tiny body.
6) Her obvious love of the spotlight.
7) She already is PNG in Russia- clearly not just the Americans hate her. Why would T2 choose her as a negotiator? I guess see point 3.

No….ah, maybe I am sexist? Like all Trump followers are racist?

#124 Oft deleted much maligned stock.picker on 09.28.18 at 3:23 am

Hahahahaha……it’s a sideshow folks…..while the Canadian economy is crumbling like cobbler Trudeau is giving you dope and Trump Hate. The property bubble is bursting around the world. Timberrrrr……but…..you can get stoned and blame it all on Trump.

https://www.cnbc.com/2018/09/27/ubs-real-estate-bubble-index-reveals-property-crash-risk.html

But……as bad as it’s going to get for homeowners and especially workers in the private sector I expect the stock market to power forward. Look at the underlying fundamental strength …..and forget the noise. Certain sectors are in fire and the best Canadian companies will merge or be aquired….bank shares will split…..making the TSX the place to be in ’19. However the TSX is getting hollowed out…..fewer companies to invest in every year. With Trudeau Liberals chasing out businesses and investment like globalist fanatics on a #metoo witchhunt no new businesses will establish themselves in Canada. The be ig names will melt up as pension, mutual and index funds have fewer companies of value to invest in…..just sayin’

#125 Jimers on 09.28.18 at 3:58 am

Leaked FISA memos exposed UK, AUS(& CAN?) roles in attempting to under mine US election and over throw Trump. Dont expect any good deals with these countries until they have proven themselves trust worthy allies again.

#126 Howard on 09.28.18 at 4:10 am

#123 Ian on 09.27.18 at 9:02 am

Freeland and The Snowboarder are literally about to implode our auto sector because they won’t let go of supply management.

————————————–

Good. The Liberals already destroyed Alberta’s economy (well beyond the effect of low oil prices, which obviously wasn’t their fault). Why not treat the regions equally and destroy Ontario’s economy too?

#127 Irwin on 09.28.18 at 4:17 am

Don’t worry, “Ontario and 130,000 car jobs”, Alberta will help you out.

We remember the hay.
https://www.cbc.ca/archives/entry/eastern-farmers-help-drought-stricken-west

#128 Howard on 09.28.18 at 4:23 am

To continue yesterday’s discussion about who has greater house and debt lust, reverse mortgage debt in Canada is now EXPLODING. Off the charts. Who is entering into these absurd financial contracts to satisfy their greed, Garth? Is it Boomers or Moisters?

The kicker : when this all comes tumbling down, it will be the Boomers, NOT the Moisters, who will be loudest in demanding a taxpayer-funded bailout.

#129 Stan Brooks on 09.28.18 at 4:37 am

#60 In Garth We Trust on 09.27.18 at 7:49 pm
“This week the high-end house floggers at Sotheby’s said the GTA luxury market was rocking.”

Could they be referring to this $59 million gem Garth?

https://sothebysrealty.ca/en/property/ontario/greater-toronto-area-real-estate/oakville/327880/

—————————————

This house looks great but it built like IKEA – thin wooden frames covered with decorative bricks. The land is supposed to be prime land but I am not sure it faces the lake.

I drove by many times on Lackeshore in Oakville where it was being built and was laughing at the ‘quality’ of the build.

Value no more than 10-12 millions including the land in my mind. Probably less.

Plus it faces a newly built gas plant (at some point everyone was selling in that area) and the nice smell from the Hamilton steel plant that is pretty much destroying any value in that area.

Good luck in selling it.

#130 Oft deleted much maligned stock.picker on 09.28.18 at 5:50 am

Bombshell….. Bloomberg plays Poloz speech in Newfoundland ( where his iron ore brain trust resides) where he capitulates to the loss of Canada losing it’s NAFTA treaty. It’s baked in folks…. the Trudeau backers are obviously trying to soft sell this in drive and drabs….but Trump’s total indifference says it all. How far will the Canadian economy fall with pre-nafta trade tariffs in place? Wow!! Thousands will lose their jobs the day after the announcement…..which is due Oct 1st. How’s the CBC going to spin this? China pops up and sneaks in an announcement that they will fill the gap if Canada agrees to be wrapped into China’s version of TPP2. If you thought US hedgemony was bad…
Wait till you start getting orders from the communist Chinese. Want to know what Trump’s answer to China will be? Not good.

#131 Howard on 09.28.18 at 6:23 am

#121 wayne’s bro on 09.28.18 at 2:55 am

Freeland- what is it about her that just makes me hate her so much? Am I a sexist pig? I don’t think so.
It is
1) Her idiocy in cutting short negotiations with a big egoist to attend a rally to talk against him.
2) Her voice is terrible to listen to. Also her style of talking, which feels like a recitation of talking points.
uh/…next point…uh…next point…uh..etc.
3) She reminds me of a civil servant boss- not particularly talented but on top of every SJW issue.
4) Fashion sense (less).
5) Her “take charge” body language. In a tiny body.
6) Her obvious love of the spotlight.
7) She already is PNG in Russia- clearly not just the Americans hate her. Why would T2 choose her as a negotiator? I guess see point 3.

No….ah, maybe I am sexist? Like all Trump followers are racist?

—————————————–

Did you not see when she went on Bill Maher’s show and said we shouldn’t criticize the practice of honour killings because it would offend people? Look it up.

#132 Gravy Train on 09.28.18 at 7:21 am

#128 Oft deleted much maligned stock.picker on 09.28.18 at 5:50 am
“How far will the Canadian economy fall with pre-nafta trade tariffs in place? Wow!! Thousands will lose their jobs the day after the announcement…..which is due Oct 1st.”

What gleeful cruelty! What schadenfreude! It’s just possible that you’re more ignorant than Smokey!

You have wet dreams about Trump, don’t you? I’d like to kick you in the knackers!

#133 Kool Aid on 09.28.18 at 7:36 am

#7 Acegoodheart

Sir, since auto companies are actually “robotics” companies and autonomous auto systems will be central to the “new economy” where the skilled are over-employed & the rest are underemployed, the current political policy threats are actually future promises.
Canada is in for a rude awakening, 65 cent loonie in 18mths as BoC is forced to hold or lower rates on failed NAFTA/Negative GDP

#134 Stan Brooks on 09.28.18 at 7:48 am

Auto tariffs would put central bank ‘between a rock and a hard place’: Poloz

https://ca.finance.yahoo.com/news/disruptive-technologies-create-challenges-interest-221319885.html

“Tariffs on cars is another thing,” he said, warning that such punitive measures could both spike inflation and slow the economy at the same time.

One of the bank’s tools for smoothing an economic downturn is to lower interest rates. But if inflation balloons as a result of higher prices for automobiles and other big ticket items, the bank would have to consider moving in the opposite direction, Poloz said.

The road ahead?

They will lie that there is no inflation/or that it is ‘transitory’ and will reduce rates.

Of course tariffs will cause inflation.
As for the job losses in Ontario….

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

https://www.zerohedge.com/news/2018-09-26/vancouver-housing-starts-flash-red-chart-rolls-over

10 % of the jobs in BC are construction related
probably 25 % of the economy real estate related.

+ around the same amount financials, driven by real estate.

+around the same amount services dependent on the above.

67 % of our GDP is driven by real estate and consumption.

Scary.

#135 Stan Brooks on 09.28.18 at 8:07 am

The delusions of the liberals:

Trump avoided Trudeau more than once at the UN, official says

Prime minister tried several times to speak to the U.S. president on sidelines, and it’s this rejection that Trump was referring to in his public comments.

https://business.financialpost.com/news/economy/trump-avoided-trudeau-more-than-once-at-un-official-says

The Americans are finding that the negotiations are tough because Canadians are tough negotiators, as we should be,” the prime minister told reporters in Ottawa. “A good and fair deal is still very possible. But we won’t sign a bad deal for Canada or for Canadians.”

and the desire of the Business:

Trudeau under growing pressure at home to get NAFTA deal done
Domestic support for Ottawa’s stance is fraying amid fears of the economic damage

https://business.financialpost.com/news/economy/update-1-canadas-trudeau-under-growing-pressure-to-get-nafta-deal-done?utm_campaign=magnet&utm_source=article_page&utm_medium=related_articles

The problem with the bold statement that ‘No deal is better than a bad deal’ is that a bad deal is very much in the eye of the beholder,” said John Manley, a former Liberal finance minister who heads the Business Council of Canada, which groups many chief executives.

“Anyone who thought … we were going to get something better than what we had under NAFTA 1.0 was delusional. We knew that this was all about taking some things away,” Manley said by phone on Tuesday.

Doug Ford, the premier of Ontario – Canada’s most populous province and center of the auto industry – will meet Canadian negotiators on Wednesday to express his concerns.

“You’re all hearing the rumours that we are hearing, that maybe they don’t want a deal. So we’re going down there to say that ‘You bloody well need to get a deal’,” Ontario trade minister Jim Wilson said on Monday.

https://business.financialpost.com/opinion/with-no-good-nafta-deal-in-sight-canada-should-take-the-good-enough-deal?utm_campaign=magnet&utm_source=article_page&utm_medium=recommended_articles

——————————————

They will through Ontario under the bus in order to protect the cozy dairy supply management.

Smokey might kiss that TN1 visa good-buy.

#136 russell on 09.28.18 at 8:26 am

We pull back on curd exports and the US will flat line… where is a stray tomahawk cruise missile when you need one.

#137 crowdedelevatorfartz on 09.28.18 at 8:30 am

@#107 kittens mewing604

“Vaughn Palmer, the Vancouver Sun’s provincial affairs columnist, questions the math and motives behind the BC NDP’s ongoing money laundering and real estate investigation.”
+++++

Ah yes, Yawn Palmer. Or Keith Baldry for that matter. Both never misseed a chance to slag the NDP and always lobbed softballs for the BC Liberals.

Global (Goebbels?) TV and the Vancouver Sun were always so obviously biased towards helping the Christy Clark party spew their lies it was truly embarrasing.
I cancelled my tv subscription and havent purchased those overpriced fishwrappers the Sun or Province in years unless I’m changing the oil in the company vehicles and dont want the cement floor in the shop stained with drips…….

#138 crowdedelevatorfartz on 09.28.18 at 8:39 am

@#110 yvrguy
“Hey Flop… You out of a job??”
+++++

Nah, Its just going to make his job easier.

When we have a website that gives asking price, days on market, history of the property, history of relistings, property tax, neighbourhood comparables…..

You know.
All the pertinent information about the most important purchase most consumers will ever make that the Canadian Real Estate cartels tried to hide from the consumer for decades.
That info?

Hmmm. Maybe we could make unlimited access to housing sales info a NAFTA negotiating point…….I’m sure transgendered real estate agents everywhere would be ecstatic .

#139 Howard on 09.28.18 at 8:40 am

#32 Guy in Calgary on 09.27.18 at 6:26 pm
Enron Musk in some trouble today. TSLA down 13.5% in after hours. It should be fun to watch that play out.

Not nearly as fun as watching Democrats rip into B. Kavanaugh’s high school yearbook. What a circus.

——————————————

Isn’t it about frikkin time the short sellers finally let ‘er rip on TSLA and drive it into the ditch where it belongs?

I hope Elon is given the cell next to Jeff Skilling.

#140 Jesse Livermore on 09.28.18 at 8:45 am

#105 Ace Goodheart

“How one badly organized small car plant came to be worth 47 billion dollars will be the stuff that history books are written about.”

Very simple Ace. It is a speculative mania pattern that has been repeated throughout human history. Ever heard of the South Sea Bubble or the Dutch tulip mania?

#141 TurnerNation on 09.28.18 at 8:50 am

#96 Doug t – when you hear stuff like that suddenly it doesn’t seems to bad hearing car company retirees having their health plan and pensions taken away does it?

If they spent decades messing themselves up then why should the company pay for their declining health – and death benefits – in retirement. And why do they deserve pensions for years of laziness?

Capitalism was a grand post-WW2 experiment. Now we’ll revert back to sustainence and dirt farming. Same old. Ultra poor and ultra rich.

#142 US = Gun deaths, bankruptcy from medical bills and a huge underclass on 09.28.18 at 8:58 am

#85 Canada=Poor cousin of rich U.S on 09.27.18 at 8:46 pm
68 US = Gun deaths, Huge Underclass >>

“U.S= The entire world wants to live in. One of the best weathers in the world. A large variety. Extremely affordable housing. Lower taxes, much cheaper and better quality products than Canada. Warm people.
LAND of OPPORTUNITY. You only need to have a dream.
World class medical care for those who like to work. ;)
Daring people and enterprising. Business opportunities like no other country in the world. A hub of medical and many other researches in the world. Go getters that that sit on their ass and moan and complain about things. The list is unending so I will stop !! hehehehehe”

Someone forgot to give your memo to the 2/3 of Americans who are living paycheck to paycheck and can’t afford a measly 1000 hospital visit or a 500 dollar car repair. Gotta love your world leading death rate by guns? You must love going to a concert or theatre with the knowledge that some whacko with an AK47 may open fire on the crowd. You must love driving through swaths of the US like the Appalachians and seeing people live in 3rd world conditions. Or the 40 million Americans who don’t have health coverage and basically are dead if they have a serious disease. Your urban ghettos are very picturesque as well. Gotta love them! Give your head a shake cowboy. I have lived in your country and have travelled there often and am always glad to touch ground in this great country of Canada.

#143 Ace Goodheart on 09.28.18 at 9:00 am

RE: #131 Kool Aid on 09.28.18 at 7:36 am

#7 Acegoodheart

“Sir, since auto companies are actually “robotics” companies and autonomous auto systems will be central to the “new economy” where the skilled are over-employed & the rest are underemployed, the current political policy threats are actually future promises.”

There’s stuff that robots do well and stuff that humans do well. Robots require maintenance and programming, and are good at simple repetitive tasks that do not require a high level of detail. But they suck at tasks that need precision (finicky type tasks). There are well established industry benchmarks in the automotive world that set out what a robot should and should not be doing in a factory. This is not based on unionization it is based on practical realities and the limitations of robotics.

People who think robots build cars are the same people who think that computers fly airplanes. I can assure you that neither is true. While robots and computers assist the humans in charge to do their jobs, they are nothing more than tools in the hands of the people who work there.

#144 conan on 09.28.18 at 9:13 am

Trump needs a one sided deal before Mid -Terms. Joke is on him. I laugh at anyone who thinks we need to bow down to this guy.

#145 dharma bum on 09.28.18 at 9:17 am

#96 Doug T

“…the amount of weed and booze consumed during shifts was unbelievable – supervisors didn’t give a rats ass either – the union destroyed productivity lol – ”
——————————————————————–

I’ve heard that many times.

Read the book “Rivethead: Tales from the Assembly Line”

https://www.publishersweekly.com/978-0-446-51501-6

It’s a biographical first hand account of an assembly line worker’s experiences at GM. Scary stuff.

I drove American cars up until the year 2000. Then I bought my first Japanese vehicle (Nissan Maxima).

I was stunned at the difference. I spent 24 years driving pieces of crap in comparison.

These days it’s a Subaru. (Why aren’t all calls this good???)

Why anyone buys American vehicles anymore is beyond me.

Jingoism, I guess.

Maybe this tariff situation will spark the natural devolution of the American automobile.

Y’know…let the chips fall where they may.

#146 Oakville Rocks! on 09.28.18 at 9:44 am

So much nonsense here. Pretty clear who the trolls are.

@91 Troll who stole his name from the X-Files…
“Two dudes have come forward and said, that was us. Complete MSM black out.”

Obviously you never bothered to watch or are too brain-addled to pay attention. There is no statute of limitations for sexual assault in MD. This was mentioned at least once when Kavanaugh was being questioned by the Republican lawyer. If 2 dudes came forward to say they did it… they would now be charged with a crime and be before the courts. MSM would have this trumps’ troll.

Garth, why allow such blatant nonsense and misinformation?

@127… so I guess we know the babbling brooks has lots of time on his hands and not a clue how to lead a productive life. How many times you drive by this property in Oakville?. And he thinks he can tell the quality of the build by observing from the road, for a house that is set well back from the road. HAHAHA.
Let me forward a link to your comment to the realtor and the builder, perhaps they would like to have a word with you?

Drive by many times and do not know if the property is actually on the lake?… 10 secs looking at the listing answers that question or actually knowing Oakville would answer this as well. Hard to believe you actually drove by or took a keen interest in this property if you do not know this.

I grew up along the lakeshore in Burlington. It was rare to smell Stelco and Dofasco and they were a lot more active in the 70s and 80’s then they are now. Babbling brooks, you really need to get a life.

#147 Doug t on 09.28.18 at 9:48 am

#142

Read it after I lived it

#148 not 1st on 09.28.18 at 9:51 am

Garth, take a good read through your comments.

In this country we have so many people who dont know jack about personal finances, hence the stupid amount of consumer debt we have relative to GDP. But there are whole other group that dont understand how canada’s economy functions. Stupid inane comments against trump and the US.

NAFTA was a gift to canada. We got to integrate into the worlds largest economy, home for our exports, military security, ease of travel, finance etc etc. And people want T2 and the kindergarten teacher Freeland to stand firm and walk away. People have no clue how our wealth was generated. Oh we will be fine like before NAFTA. Really, you want to go back to our GDP from 1988? Unbelievable stupidity from our citizenry just like our current batch of leaders.

#149 For those about to flop... on 09.28.18 at 9:59 am

#110 yvrguy on 09.27.18 at 11:34 pm
Hey Flop… You out of a job??

http://dailyhive.com/vancouver/zealty-interactive-real-estate-map-canada-bc

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

One of my helpers on my blog passed this information on to me last night and it’s just one more tool I will use going forward until consumers get what they want.

As for losing my job when this happens,I am a construction worker who spends a bit of his spare time honouring a fallen buddy and trying to raise money for cancer research.

It is rather unfortunate that people on this blog cannot accept these facts and just let me report.

People tell me to shut up and not do real estate reports filled with verified information so it doesn’t interfere with them offering their opinion on Trudeau,Trump,climate change, me too movement, on and on.

Your opinion matters to you,and others might be interested,but most of the time people want to see the facts with their own eyes…

M44BC

#150 Mattl on 09.28.18 at 10:04 am

I can’t stand Trudeau but have his back on this one. What do some of you want him to do, bend over and take it? Repubs most likely get smashed in the mid terms, and as others have pointed out there won’t be broad support in congress to dismantle NAFTA. I hope he holds the line and only cuts a favorable deal.

#151 Smoking Man on 09.28.18 at 10:14 am

Diversity is our strength.

Bahahaha

#152 James on 09.28.18 at 10:24 am

#148 Smoking Man on 09.28.18 at 10:14 am

Diversity is our strength.

Bahahaha
__________________________________________
Diversity is what made this country you idiot!
Thanks for showing us your real colours. Now your really part of the Jim Crow club old man.

#153 Marcus on 09.28.18 at 11:07 am

Most Canadians miss the point why Trump is so hard on Canada. 25 years ago Canada was Socialist. Today Canada has embraced Communism. Trump is a Traditionalist American Center of Gravity. He will NOT permit a Communist state to exist on America’s border. The best way to correct this trend in Canada is to “reset” Canada. This will occur via economic pressure. Pressure that Canada has NEVER experienced. The left in Canada is totally unhinged. Sadly the left is represented by the sock wearing fluff Trudeau Jr. How he became PM is a total mystery. Wake up Canada ……. your day of reckoning is fast approaching.

#154 not 1st on 09.28.18 at 11:15 am

#149 James on 09.28.18 at 10:24 am

______________________________
Diversity is what made this country you idiot!
Thanks for showing us your real colours. Now your really part of the Jim Crow club old man.
____

WRONG. Unity of vision is what made this country great and Trudeau and gang threaten to destroy it all in 4 yrs. Like Trudeau, you have no idea what makes a country and country.

#155 Blacksheep on 09.28.18 at 11:19 am

Jess #97,

“But what has lindsey graham done for his s. carolina citizens”
—————————
But was his rant not bang on, considering what actually took place? It’s good to see a politician speak (yell?), what sure the hell looks to be the truth, with all the media intently watching.

Pure theatre sure, but when you make a supreme court judge blubber as 100’s of millions watch, because the dems attempt a public cavity search, for no reason beyond his political leanings, a little outrage is in order.

This is 100% political.

#156 Oft deleted much maligned stock.picker on 09.28.18 at 11:42 am

Oh my God…..Trudeau has given us all some heart pounding nightmares but this is so twisted and dystopian that it beggars belief.

https://vancouversun.com/news/local-news/csis-spying-on-anti-pipeline-activists-feds-try-to-pull-cloak-of-secrecy-over-court-case

Trudeau has openly encouraged ( even fixed legislation that nailed open the door for foreign agitators to infiltrate and disrupt) Canada’s enemies like the Soros funded Tides, Greensleaze, Farallon Capital, Rockefeller Foundation among others…he has openly supported frivolous lawsuits and taken donations into his own private foundation for pay to play access.

But….at the same as he filling his pockets and those of his green carpet bagger buddies….he’s got CSIS spying on the same natives and paid agitators that he’s encouraged to block the roads, businesses causing chaos and general mayhem . Does True have a zipper down the middle of his head so he can talk out of both sides of his mouth ?

Huge news on the Trump front…..No it’s not about another sleazy Democrat smear job or Obama shaking his girly fist at shadows. Trump sprang an attack on China today by organizing full fleet incursion into the SC Sea alongside allies NZ, Australia, UK and Japan…..warships and B52’s. All the noise from sleazy German media about Trump having no friends left…..buuuuuuulllllll cookies. Think Trump needs Trubombs approval?

So why is Justine do afraid of his allies on the extreme left? Paranoid much?

#157 IHCTD9 on 09.28.18 at 11:45 am

#149 James on 09.28.18 at 10:24 am
#148 Smoking Man on 09.28.18 at 10:14 am

Diversity is our strength.

Bahahaha
__________________________________________
Diversity is what made this country you idiot!

______

Ahhh, This country was essentially 100% built by 1960, and there was not a hell of a lot of “diversity” back then.

Diversity talk is just BS trying to keep the Citizenry peaceful. No one with a brain thinks that mixing a bunch of different cultures and races together improves anything over a similar group that is homogeneous.

Any warm body able to work and pay taxes would do just fine. Does not matter where the working taxpayer hails from. Does not matter what colour.

Canadian immigration is not about some Utopian post national multi-ethnic state, it’s about population replacement, fighting age demographics, and generating economic activity (including tax revenues). That’s it – no pie in the sky SJW Heaven on Earth – it’s pretty much all about money.

Nothing matters other than work, and pay taxes, and hopefully reproduce.

Make it a priority to properly identify bullsh!t, and reap wisdom.

#158 MF on 09.28.18 at 11:47 am

150 Marcus on 09.28.18 at 11:07 am

The Democrats in the US are more left leaning than any of our political parties boyo.

Did you forget the 8 years of democratic rule that occurred prior to Trump?

And btw, last time I checked we are a sovereign state who doesn’t have to listen to any other government.

MF

#159 IHCTD9 on 09.28.18 at 11:58 am

“Graham, a member of the Senate Judiciary Committee, which questioned both Ford and Kavanaugh, had earlier mounted a furious attack on Senate Democrats during the hearing. “This is the most unethical sham since I’ve been in politics,” he said from the dais. “Boy, y’all want power and I hope you don’t get it.” ”

Kav’s in.

Meetoo’s out.

Looks like us “meetoo losers” were right again.

That’s the beauty of employing logic and reason – and listening to nothing more than that.

#160 James on 09.28.18 at 12:06 pm

#151 not 1st on 09.28.18 at 11:15 am

#149 James on 09.28.18 at 10:24 am

______________________________
Diversity is what made this country you idiot!
Thanks for showing us your real colours. Now your really part of the Jim Crow club old man.
____

WRONG. Unity of vision is what made this country great and Trudeau and gang threaten to destroy it all in 4 yrs. Like Trudeau, you have no idea what makes a country and country.
____________________________________________
That goes without saying. Unity and vision are only some of the ideals that every single immigrant to this country has brought. some of my relatives came here in 1849 from Ireland and others came here from the Ukraine in the 1900s, diversity mon amie. My relatives are about as diverse as it gets, from two completely different parts of the old world. From my mothers side we learned some Ukrainian cultural traditions and from my fathers side some Irish, English and french traditions. Diversity provided different ideas to solve common problems that we all faced when we landed here. What you are eluding to is divisiveness from Trudeau not diversity.

di·ver·si·ty
dəˈvərsədē,dīˈvərsədē/
noun
noun: diversity

the state of being diverse; variety.

di·vi·sive·ness
dəˈvīsɪvnəs/
noun
noun: divisiveness

a tendency to cause disagreement or hostility between people.

#161 Dups on 09.28.18 at 12:33 pm

I think Donald Trump is right: Chrystia Freeland is a not a good negotiator…she should not be representing Canada. Trudeau’s selection is weak at best in most financial fronts. No difference for B. Morneau. T2 should step down, you are too flowery and too soft.

#162 AfterTheHouseSold on 09.28.18 at 12:41 pm

#146 For those about to flop…
RE: real estate reports
“It is rather unfortunate that people on this blog cannot accept these facts and just let me report.”

That is not the case at all flop. It has never been about content. It’s about quantity, thousands of posts by your own admission, and the huge moderating workload that you have heaped on Garth. You continued flooding this blog with your posts despite Garth warning of shutting the comment section down, workload being part of the reason.

I am a long time reader of this blog. Over this time a significant amount of posters have, reasonably, asked you to reduce the quantity of posts, or post on your own blog, only to have you lash out at them as bullies.

Again, not the case. Having your own blog is beneficial in three ways:

You continue to provide the information on the Vancouver market to those who are interested. Plus you get an accurate gauge of how much/little interest by the number of hits you get.

Provide blog relief to Garth’s readers that are not interested. This would eliminate friction on the blog.

Perhaps you can post a link to your blog occasionally with your real estate report (like Brian Ripley and his charts). This way, and most important of all, you continue to “help the boss” without swamping him in work. A win win for everyone.

#163 Barb on 09.28.18 at 12:48 pm

” #70 Thankfully renting on 09.27.18 at 8:08 pm

Milk at Costco in Idaho, $3.85 for TWO gallons.
Milk at Costco in BC, $4.85 for 4 liters.
But hey, as long as the Saputo’s are happy.”

———————————————————-

It’s not the price!
It’s the crap that’s in it!

For a clue, consider why Europe won’t allow the importing of American dairy products…

#164 bdwy sktrn on 09.28.18 at 1:20 pm

If auto is tariffed with 130,000 jobs at stake, Canada (including BC that thinks itself immune as its own sovereign nation) will be in recession.
——————-
actually bc is completely immune from this mess.

tarrifs whack the loonie????
More usa tourists in bc
More movies/tv in bc
More shipping from bc (low$=cheaper rocks and wood for asia)
More foreign students in bc

but vancouver will take a hit by shipping fewer chev impalas and dodge caravans to china. oh wait, we are already at zero.

we are for most part a separate economy

#165 Marco on 09.28.18 at 1:43 pm

Well, Trump helped USA to get rid of Clinton and Bush dynasties and maybe would help Canada to get rid of Turdo dynasty. Now, Ms Freeland is a graduate of Russian language and literature but she is qualified to negotiate international trade, because she is darling of Turdo. Like his father in his youth Young Turdo has sympathy for anything close to fascism or Nazi collaboration and this foreign minister of his is descendent of Nazi collaborator. When you mention that you are accused by collaborators and their descendents of attacking Canadian democracy. And that argument is something the whole world has right to hear.

#166 Wrk.dover on 09.28.18 at 1:45 pm

Nice day for a (supreme court) white wedding

#167 Marco on 09.28.18 at 1:52 pm

DELETED

#168 Flop Flop could be amazing on 09.28.18 at 1:54 pm

#159 AfterTheHouseSold on 09.28.18 at 12:41 pm
#146 For those about to flop…

You missed the best reason of all for having a separate blog:
Everything in a searchable database.
The whole reason why Flop’s information has value is that the RE people hide the info.

By spreading a few thousand pink posts throughout a thousand of GT’s blog posts they are effectively useless because the information is basically hidden again.

I would love to see Flop summaries. Once a month come here and plug your site while giving us some stats.
Monthly total price drops. Mo/Mo and Y/Y.

The other part that dilutes interest in the posts here is the small drops. Anything under a 10% drop is rather “meh”.

Use your own blog to record everything you find, and advertise for it here when you find a juicy one like a 25% haircut.

I think it is great that you are honoring a friend who passed, and I think this is the better way to do it.

#169 Steven Rowlandson on 09.28.18 at 1:55 pm

“The realtors among us insist the correction is over, before it has actually begun.”

Is anyone surprised? Corrections ,price collapses and reality checks are taboo as far as real estate, stocks and bonds are concerned. Critique and negativity are unacceptable. Otherwise people might have to face reality and risk losing damned near everything.

#170 IHCTD9 on 09.28.18 at 2:00 pm

#142 dharma bum on 09.28.18 at 9:17 am

Why anyone buys American vehicles anymore is beyond me.
___

I’m always down to answer simple questions.

Full sized trucks and SUV’s.

That is why anyone will buy American vehicles anymore. No one can touch the US automakers in their preferred market. Not even bloody close.

Step outside the GTA, and it’s big trucks and SUV’s everywhere you go.

BTW, depending on the year of your Subie, it could be up to 20% GMC.

#171 Gravy Train on 09.28.18 at 2:03 pm

#148 Smoking Man on 09.28.18 at 10:14 am
“Diversity is our strength. [Chortles.]”

War is peace. Freedom is slavery. Ignorance is strength.
— George Orwell, Nineteen Eight-Four

#172 crowdedelevatorfartz on 09.28.18 at 2:08 pm

@#159 After the housesold

I disagree.
Flop has reduced his posts to a trickle.
They provide a valuable indication of what is selling, what is selling for a loss, and( more importantly) what isn’t selling.
Perhaps most of his critics are realtors that don’t want the truth exposed for potential buyers to see?

#173 Steven Rowlandson on 09.28.18 at 2:09 pm

There is a way the country can look good financially before the world and that is for government to run a tight ship and pay down debt. Set a good example. Let the returned capital flow into the private sector and create jobs and I don’t mean jobs for realtors either. That of course is not the end all be all but it would be a good start.

#174 Ustabe on 09.28.18 at 2:17 pm

The American Apologists on this blog should stick their heads out of the bubble and read up on what the American Bar association has to say on the Kavanaugh matter.

Or the Dean of Yale Law.

Or CNN, Slate, The Cut, Americanmagazine.com, NYMag.com, FoxNews.com “…postpone Kavanaugh confirmation until FBI…”, TheHill.com, TheGuardian.com, Washington Post, Abovethelaw.com.

And so many more.

Its not difficult to see the lack of empathy within so many on the right but the true sign of a person who has given up, rolled over and is subject to the whims and manipulations of others is a lack of curiosity.

On another note: I, too, stand with Canada’s stance on the NAFTA file and Trumps theatrics.

#175 Ace Goodheart on 09.28.18 at 2:32 pm

#167 IHCTD9 on 09.28.18 at 2:00 pm:

“Why anyone buys American vehicles anymore is beyond me.
___

I’m always down to answer simple questions.

Full sized trucks and SUV’s.

That is why anyone will buy American vehicles anymore. No one can touch the US automakers in their preferred market. Not even bloody close.”

Very true.

And this is why no one in Europe or South East Asia will buy them.

Quite simply, two reasons.

Here is one:

https://money.cnn.com/pf/features/lists/global_gasprices/

Try filling up your eight cylinder GMC Yukon in the Netherlands. You’ll need a bank loan.

Here’s another:

https://www.google.ca/search?q=narrow+european+streets&tbm=isch&tbo=u&source=univ&sa=X&ved=2ahUKEwig3dbUqt7dAhVl74MKHWdbCFAQsAR6BAgCEAE&biw=1600&bih=764

We love big vehicles here in North America.

They simply do not work in Europe and most of South East Asia. There is no room for them, and the gasoline they use is so expensive that they are impractical to drive on a daily basis.

#176 not 1st on 09.28.18 at 2:35 pm

#171 Ustabe on 09.28.18 at 2:17 pm

On another note: I, too, stand with Canada’s stance on the NAFTA file and Trumps theatrics.
—–

Then you will stand poorer. Maybe that will get your attention.

Trump simply asked for the trade deficits to be balances. That is a reasonable request. It can come by in many ways. We could buy military equipment from the US and boost our pathetic forces. We could have offered banking competition here instead of protecting the big 5. We could have offered media competition instead of protecting the CRTC lunatics.

Lots and lots of ways to appease trump.

Lets be honest here. trudeau and his stupid moralizing ways put is right in trumps crosshairs. He has offended dozens of nations with his grandstanding.

And he can forget about his coveted UN seat. Both US and China have veto and they will never let a limp sock boy like him have his seat. Pathetic weak failed leadership is the hallmark of this govt.

#177 Stan Brook's Psychiatrist on 09.28.18 at 3:23 pm

#143 Oakville Rocks

“Drive by many times and do not know if the property is actually on the lake?”

Now, now go easy on poor Stanley. He saw the property en route from the insane asylum to Niagara Falls on a outing like the one they had in One Flew Over the Cuckoo’s Nest. Stanley was heavily sedated, just had his lobotomy and was straight jacketed. We pointed out several times that the houses on the south side of Lakeshore Drive are backing on to the lake and the ones on the north side are not. But as his name suggests, he was babbling incoherently and dribbling from the side of his mouth. Must have been the straight jacket being on too tight and the effects of a fresh lobotomy….

#178 Stan Brooks on 09.28.18 at 3:34 pm

#174 Stan Brook’s Psychiatrist on 09.28.18 at 3:23 pm

Let me guess: Poloz or wild bill in disguise?
Or hungry real estate agent?

#179 IHCTD9 on 09.28.18 at 3:46 pm

#170 Steven Rowlandson on 09.28.18 at 2:09 pm
There is a way the country can look good financially before the world and that is for government to run a tight ship and pay down debt.
———

There is no chance this will happen until the voters (en masse) decide it’s a top rung issue.

This in turn is hard to see happening anytime soon. Just look at the financial state of Canadians themselves.

Greek Citizens were protesting the IMF **AFTER** they went broke for wanting to give the country BILLIONS worth of loans in order for Geeks to have anything resembling a government, and at least a snowball’s chance in hell of staying in the EU.

Greeks didn’t like the consequences that came with this action, and obviously thought very little about their only option to the IMF bailouts: defaulting, getting booted from the EU, and returning to the Drachma, which would be worth less than dirt.

I doubt Canadians will be any different.

I don’t expect change until the pain of not changing is severe.

#180 Shawn Allen on 09.28.18 at 3:57 pm

What is your “we du jour”?

#161 bdwy sktrn on 09.28.18 at 1:20 pm resp[onded to the following:

If auto is tariffed with 130,000 jobs at stake, Canada (including BC that thinks itself immune as its own sovereign nation) will be in recession.
——————-
and said:

actually bc is completely immune from this mess.

…we are for most part a separate economy

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

Well, that is a fair point but I ask, what is your “we du jour”

Is it “we” of our City?

“we” of our province?

How about “we” government workers?

or “we” auto workers

Or “we” of European decent?

Or “we” Canadians of Asian decent

Or is it “we Canadians”

or “we” Maple leaf fans

or “we” humans?

Eons of evolution lead to humans loving to identify with some tribe or other. But in our world the tribe we identify with changes at a moment’s notice depending on the matter at hand.

If we are looking at economics, there simply are no issues that will impact all Canadians anything close to equally. Nor all auto workers. Nor all residents of Windsor Ontario.

You’d best look after yourselves and not rely on others to be part of your team when some economic event hits you hard.