Money & politics

 

RYANBy Guest Blogger Ryan Lewenza

It is well known and generally accepted that you shouldn’t discuss money, politics and religion. Today I’m going to flout general convention and discuss the first two – money and politics. Garth advised me to “wear a helmet” when I told him this week’s topic so this might get interesting.

I see a number of important political events in the near-term, which could impact the equity markets, hence this week’s topic.

The first and potentially most impactful is the fast approaching US mid-term elections. Normally, the run up and conclusion of the US mid-terms has been very positive for the US equity markets in the fourth quarter. This is because markets hate uncertainty and as the elections results pour in and the outcome becomes known, markets typically rally.

Historically, the fourth quarter has been the strongest quarter for the equity markets with the S&P 500 up 4.1% on average in Q4. However, markets tend to rally even more in the fourth quarter of US mid-term election years with the S&P 500 up 7.7% on average. This is one factor supporting our call for a late-year rally.

S&P 500 Quarterly Performance in Mid-term Election Years

Source: Bloomberg, Turner Investments

Now why this election outcome could be even more consequential than normal is if the Democrats take back the House and Senate. This combined with the potential for a damaging report from special counsel Mueller over President Trump, Russia collusion and/or obstruction of justice. To be clear, I’m not insinuating that there is anything nefarious between Trump and Russia. I just don’t know. But often when there’s smoke, there’s fire.

And from my perspective, a case could be made over obstruction given things like: 1) Comey claiming that Trump advised him to “let Flynn go”; 2) the actual firing of FBI Director Comey who was investigating Trump and potential Russian contacts; and 3) that Trump lied on Air Force One when he quickly drafted a response regarding Trump Jr., Manafort, and Kushner’s meeting with some Russians that the meeting was over Russian adoption policies rather than getting dirt on Clinton. Again, to stress, I’m not making a call, rather stating some of the facts and what Mueller could report on.

If there is damaging evidence of collusion/obstruction and the Democrats also take back the House and Senate, it increases the odds of impeachment, which could lead to a market sell-off. I still believe the odds of impeachment are low, but they do increase if these two events unfold.

From an investment perspective, we don’t invest around ifs, and there are a lot of them here, so we’ll just have to see how this all shakes out in the coming months.

Next up is the Italian budget and the escalating tensions between Italy and the EU. The new Italian government, a coalition of the anti-establishment party Five Star Movement, and the right-wing party The League, released a controversial budget, increasing spending on welfare and pensions while cutting taxes. If passed, it would result in a larger-than-expected deficit of 2.4% over the next few years and increased borrowing. This would, in turn, add to Italy’s already high debt-to-GDP ratio of 132%.

Concerns from the EU of a higher structural deficit is setting up a potential conflict between the Italian government and EU officials. The likely outcome is a reworking of the budget and a compromise between the two, but a showdown cannot be ruled out, and a potential short-term sell-off. Worse yet, the Italian government may use this as leverage to justify an exit from the EU, which would have major ramifications for the EU economy and stock market. I see this as a remote possibility but nothing surprises me these days.

Italy’s Fiscal Situation Is a Mess

Source: Bloomberg, Turner Investments

Finally, that brings us to the morass known as “Brexit”. What a mess! The UK exit date from the EU is fast approaching, with the UK scheduled to leave the EU bloc on March 29, 2019. Theresa May has been unable to sell her Brexit plan, known as the Chequers plan, to her government and people, let alone the EU. The plan calls for a “soft exit” where essentially Britain would remain tied to the EU in the trade of goods, but would be free to do what it wants on services.

EU negotiators have rejected this separation of goods and services, as this would be the equivalent of the UK having their cake and eating it to. The EU is basically saying “they are either in or they are out” and they cannot cherry pick the things that they want. The concern is that nothing gets resolved by March 29 and everything falls into no man’s land, with no direction or clarity. This would not be good for the global economy and equity markets.

Politics can play a big a role in the economy and financial markets. As I outlined there are a number of critical political events on the horizon, which have the potential to have a big impact on the financial markets. Often the bark is worse than the bite on these issues and things get worked out in the final hours (e.g., NAFTA), but we’re monitoring these important events closely given the potential for a negative outcome.

Ryan Lewenza, CFA, CMT is a Partner and Portfolio Manager with Turner Investments, and a Senior Vice President, Private Client Group, of Raymond James Ltd.

 

96 comments ↓

#1 El presidente trumpster on 10.13.18 at 1:22 pm

Stunning portrait I dare say.. next stop mount Rushmore… the orange glow at dawn… as Melania puts it we don’t care what you think… as she finishes up her make colonialism great again tour.

#2 SoggyShorts on 10.13.18 at 1:36 pm

#81 Stan Brooks on 10.13.18 at 1:55 am
#39 Homeless in B.C on 10.12.18 at 7:14 pm
But as SoggyShorts says (who sees deflation somewhere but fails to point out for whom, in what and where): It is individual experience.
*****************************
Complete misrepresentation. Since I’ve finally gotten it through your head about how inflation works and the difference between the nationwide weighted inflation number and your personal cost of living experience you lie about what I have posted? Pathetic.

I think inflation in Canada is around what the government has posted +-0.5% due to lag in correcting weightings and collecting data.

My personal Cost of Living increase is very low, maybe even negative, but that is only because I have a 70% savings rate, paid off vehicles, no insurance claims, and I negotiated well with my landlord.

Even travel is fine since there is always somewhere interesting in the world where their currency has dropped relative to ours, and I’m really flexible.

Basically, my personal cost of living increase is from food and everything else I try to be smart about.

#3 Joshua on 10.13.18 at 1:40 pm

Thanks for the post Doug.

I remember reading about European countries to stay away from; Portugal, Italy, Ireland, Greece and Spain (which creates the unfortunate acronym PIIGS) due to their debt to GDP ratio and overall fiscal policies/ responsibility.

I still invest in these countries through the EAFE Indices in my portfolio. However are these countries on the mend or following the same path they were on during the European financial crisis in 2014?

#4 Lost...but not leased on 10.13.18 at 1:44 pm

Invest in Bre-X…beat the crowd.

#5 The doubter on 10.13.18 at 1:50 pm

Are you recommending holding off investment until all dust are settled?

#6 geo on 10.13.18 at 1:55 pm

Ryan, always enjoy your entires. Thank you.

what’s your short term prediction for the markets? balanced portfolio 3-4% for 2018?

#7 Ryan Lewenza on 10.13.18 at 2:06 pm

The doubter “Are you recommending holding off investment until all dust are settled?”

No since the outcomes could be positive. I was just highlighting things which are likely to impact the markets over the next few months. We’ll see if they are positive or negative. I would actually be putting money to work now after the sell off. – Ryan L

#8 Stan Brooks on 10.13.18 at 2:22 pm


Garth advised me to “wear a helmet” when I told him this week’s topic so this might get interesting.

Wise suggestion.

The view on EU is one of a distant outsider.

—-

Italy wants 2.4 % budget deficit while ours is 5.5 %.
They will settle for 2.2.

Italy’s government debt is 131 % of GDP.
https://tradingeconomics.com/italy/government-debt-to-gdp

Italy’s private debt is 172 % of GDP
https://tradingeconomics.com/italy/private-debt-to-gdp

Canada’s government debt, including crown corporations and provincial debt is 90 % of gdp
https://tradingeconomics.com/canada/government-debt-to-gdp

Canada private debt is 267 % of GDP.
https://tradingeconomics.com/canada/private-debt-to-gdp

I would worry more about Italy blocking CETA than their ‘problems’ with EU.

===

Brexit is a UK problem, EU really does not care about it.
It beats me why that would be bad for the global economy. It is only bad for UK if they are stupid enough to leave with no deal.

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

#2 SoggyShorts on 10.13.18 at 1:36 pm

I cited Canadian sources on inflation. As experienced by average Canadians.

I never stated that the inflation numbers I quote are based on my experience.

While you state exactly that.

You have to enlighten me where your can get more in travel and leisure in the world for your Canadian dollars than a year or two ago except Venezuela, even Cuba is 10 % more expensive than a year ago.

Inflation measures the cost of the same basket of goods representative for an average consumer, if you are making adjustments and compromise on quality you may end up living on vegetation and still state that there is no inflation.

I don’t believe you when you state that your rent, electricity, gas has not increased in the last 5 years.

#9 Stone on 10.13.18 at 2:29 pm

Hi Ryan. Appears there are big political events on the horizon, as there always seem to be.

Based on what you presented, sounds like the solution in each scenario is that if your balanced and globally diversified portfolio deviates enough from it’s set percentages, the solution is to rebalance and keep on going.

Does that make sense or am I being too naive?

#10 SoggyShorts on 10.13.18 at 2:32 pm

#5 The doubter on 10.13.18 at 1:50 pm
Are you recommending holding off investment until all dust are settled?
**********************
Time in the market beats timing the market.

The world is a messy place. There will always be hiccups dips and scary things looming, but the overall direction of the world is forwards. The dust will never completely settle.

It probably would have sounded very smart if someone told you to hold off on investing when Trump won the presidency…turns out it would have been pretty dumb.

#11 Robert B on 10.13.18 at 2:41 pm

Ryan

Nice points at the issues at hand. I agree Europe is a mess.

I think that capital flows and share buybacks were left out. These two items are helping drive the US dollar as well as equities higher.

Share buybacks should hit $1 trillion dollars in 2018.

#12 Ponzius Pilatus on 10.13.18 at 2:45 pm

I think there is a strong correlation between being rich and being religious.
At least among the 1% ers.
And there is a 100% correlation between wealth and political power.
President Jimmy Carter is one of the few exceptions.

#13 Stan Brooks on 10.13.18 at 2:47 pm

Correction: Italy’s projected deficit is % of GDP, not of the budget.

So their projected deficit is higher than our federal, but we also have provincial deficits. So overall not that far off.

#14 Warren Buffett on 10.13.18 at 3:07 pm

Charlie Munger and I don’t care about politics, reigion, or what the next great “forecaster” is drumming up.

We just INVEST in great businesses over the long-term.

AHHH! Investing made easy. So relaxing.

#15 Mountain camper on 10.13.18 at 3:09 pm

This comment is more for previous blog.

I got lucky renewing my mortgage last fall.I renewed in September 2017 at 2.5 for 5 year fixed.What could be the trend in next 4 years when I have to renew again? I understand that in short term is going up….

#16 Smoking Man on 10.13.18 at 3:13 pm

Dear God Ryam, don’t you have an internet connection.
Fusion GPS, the Hillary connection.

Have seen the Trump rallies? Democrats have no plan, vision or a credible leader.

Midterms are Jobs vs Mobs. Entire populace of the Great Counrty called America are sick of the PC cult.

Load up on equities and lighten up on TSYs bargain right now.

Red title wave approaching.

Bet accordingly…
Dr Smokey.

#17 Jungle on 10.13.18 at 3:13 pm

Loved your enthusiasm on BNN about markets going higher in q4.

The sell off came quite fast, all the sudden.

IN the last couple weeks/ days,

TFSA went from +6% to -1.32% (YTD)
Couch potato went from +5% to 0%

TSX total return is negative for the year.
MSCI EAFE in CAD negative for year.

Bond benchmark ETF XBB is performing better than those two!!

#18 question on 10.13.18 at 3:33 pm

Ryan ,

You still bullish on emerging markets ?
A sector you like for the next 6 months ?
Balanced funds reversion to the mean for 2018?

#19 earthboundmisfit on 10.13.18 at 3:43 pm

I think there is a strong correlation between being rich and being religious.
At least among the 1% ers.
And there is a 100% correlation between wealth and political power.
President Jimmy Carter is one of the few exceptions.

There is also a 100% correlation between being blindly partisan and being stupid.

#20 AK on 10.13.18 at 3:56 pm

“Now why this election outcome could be even more consequential than normal is if the Democrats take back the House and Senate.”
=====================================
No way this is happening.

Having said that, If the Democrats ever decide to change their platform and start working for The American people, then they might have a chance.

#21 Ryan Lewenza on 10.13.18 at 3:58 pm

Stone “Based on what you presented, sounds like the solution in each scenario is that if your balanced and globally diversified portfolio deviates enough from it’s set percentages, the solution is to rebalance and keep on going. Does that make sense or am I being too naive?”

100% correct. If a negative event were to occur, say the US for example, it would likely sell off more than other global markets. So you rebalance by selling an asset that has outperformed and add to an asset that has underperformed. – Ryan L

#22 Ryan Lewenza on 10.13.18 at 4:04 pm

question “Ryan, You still bullish on emerging markets? A sector you like for the next 6 months ? Balanced funds reversion to the mean for 2018?”

Over the next few years, absolutely! EM has underperformed for years and as a result is the cheapest equity market (looking at them as a whole) in the world. However, in the shorter term the strong US dollar and Trump’s trade war is weighing on these markets. But this will not last forever and when these trends reverse we’ll see big EM gains. EM returned 30% last year, is down 20% this year, so I see a stronger 2019. – Ryan L

#23 Figmund Sreud on 10.13.18 at 4:22 pm

Today I’m going to flout general convention and discuss the first two – money and politics.
________________________________

Hmmn, … why flout, and just today? Political and economical issues are never seperate and almost always – always! – related. You see, … once upon the time – long, long time ago (c. 1965) I did pay particular attention to one of my social studies professors, … and here is what she said ( … this is largely from memory ):

“It is essencial for you to know the political and economic spectrum throughly – as a unit. You can use the spectrum as a tool to determine the amount of government intervention into an economy, the primary focus of an economy, the method of change used in the economy, the ability for an economy to rapidly change and other key questions”

Anyway, tieing politics and economy as a unit is nothing new. Take Chanakya, for example as proof, an ancient Indian statesman and philosopher (c. 4th century BCE). As such, he is considered a pioneer of the field of political science and economics, … as a unit.

But you all knew all that, …

Best,

F.S.: Calgary, Alberta.

#24 Lost...but not leased on 10.13.18 at 4:34 pm

Simple….

While credit is tightened..money will still be printed…or else we go flush. Non RE asset classes will experience their own bubbles

Or…no October surprise circa 2018…they learned from Great Depression.

#25 Deplorable Dude on 10.13.18 at 4:51 pm

And Hilary has a 98% chance of being President eh Ryan…..;-)

It’s like Scott Adams says….we’re watching two completely different movies…

The movie I’m watching notes all the senior FBI/DOJ figures who have been fired/demoted/indicted. AS Smokey points out…we have copious evidence of a soft coup attempt against the President which the MSN is desperately trying to ignore….It will all come out when the President declassifies the FISA application against Carter Page.

My movie also has better pollsters who accurately predicted the 2016 results, and who are predicting the GOP adds 5-6 Senate seats, as well as holding the house and maybe flipping a few seats…..have you seen how many folks are showing up at Trump rallies!

The fav part of my movie is how much leverage Trump has over the Assistant AG Rosenstein, thanks to apparent news that RR considered secretly recording Trump. notice he hasn’t fired him, or let him resign despite repeated attempts. Trump btw fired Comey at the direct written request of Rosenstein….in case you’d forgotten. Rosenstein will gracefully wind down the Mueller witch hunt before the mid-terms and then help Trump take down the McCabe coup team.

#26 Daughter of Ponzi on 10.13.18 at 5:15 pm

#6 Ryan Lewenza on 10.13.18 at 2:06 pm
The doubter “Are you recommending holding off investment until all dust are settled?”

No since the outcomes could be positive. I was just highlighting things which are likely to impact the markets over the next few months. We’ll see if they are positive or negative. I would actually be putting money to work now after the sell off. – Ryan L
——————————————————————–
This is like asking barber if you need a hair cut or RE agent if you should buy a house?

#27 espressobob on 10.13.18 at 5:41 pm

Any good correction in the equity markets just provides another sweet buying opportunity just like they always have.

Buying into fear has its rewards.

#28 young & foolish on 10.13.18 at 5:57 pm

“Are you recommending holding off investment until all dust are settled?” — Doubter

It’s always dusty in the investment world. You and I are hopeless muppets against the big guys wielding serious algos, insider reports, and up to the microsecond trading information.

Market timing seldom works …

#29 Dolce Vita on 10.13.18 at 5:59 pm

2.4% for Italia is NOT larger than expected. See image below of prior debt %.

Less than 3 of the prior 5 years and the same as 1 of those prior 5 years.

“All I know is just what I read in the papers, and that’s an alibi for my ignorance.”

Those newspapers are all Left dominated & singular in that voice, US and Canada (well, except for Fox).

You have to read Left, Center and Right newspapers, as I do, every day. There in lies the truth. Good luck with that in Lefty MSM Canada (or the US).

EU apparatchiks & Globalists to do not like a populist democratically elected Gov. that had a 68% vote plurality last election with both M5S and Lega right coalition (Trudeau won in 2015 with 39.5% of the vote).

Prior debt % image with a little bit of Italian humor at the end (PD the previous Center-Left Gov, Silenzio = Silence, the rest use Google Translate):

https://i.imgur.com/XorCKEG.jpg

– – – – – – – – – – –

Bet your US & Canadian MSM did not show you the above numbers did they?

Now you know how Left biased CDN MSM is.

BTW, Lega is not far right either, then again, Lisa LaFlamme and the Commies at CBC say he is, so of course, they are correct…well, absolutely.

Your oversight is forgiven (as this Blog’s authors are a cut above in my view) but then again, learn to seek out the truth as I did.

Balance. A good thing.

#30 Muttley O'Toole on 10.13.18 at 6:00 pm

Dr. Smokey @# 15 & Deplorable Dude @#24 I reckon got it right young Ryan.
Maybe you should lift your head from the financial journals & have a look occasionally at what’s happening in the real world and not the world according to the “fake news” media.
P.S What sort of crash helmet are you wearing?

#31 Weiner on 10.13.18 at 6:03 pm

Hi Ryan. I always enjoy your in-depth analyses, especially with lots of charts that make my eyes cross :P Wondering if you think it’s time to start buying some longer term bonds again, particularly corporates. They’ve been taking a hit, but will be handy to have in a recession. Thanks.

#32 SoggyShorts on 10.13.18 at 6:21 pm

#7 Stan Brooks on 10.13.18 at 2:22 pm
#2 SoggyShorts on 10.13.18 at 1:36 pm

You have to enlighten me where your can get more in travel and leisure in the world for your Canadian dollars than a year or two ago except Venezuela, even Cuba is 10 % more expensive than a year ago.
♦Austrailia
♦New Zealand
♦Jamaica
♦Indonesia
♦Egypt
♦Columbia
♦Brazil
♦Argentina

Feel enlightened yet? Google is hard.

I don’t believe you when you state that your rent, electricity, gas has not increased in the last 5 years.

I don’t know what to tell you since I’m not eager to give you my address. Just google a couple of managed apartment buildings in Edmonton and ask them. I’ve lived in the same one since I moved here, and my utilities are included in my rent. When my lease was up it switched to month to month, and when I asked what deal they would give me if I signed a 1 year lease, they gave me 10% off. Then a few new buildings finished nearby and I did it again.

As for gas, in Edmonton, it has been about $1.20 fluctuating by 10 cents since I moved here 6 years ago.
https://ycharts.com/indicators/edmonton_ab_average_retail_price_for_regular_unleaded_gasoline_at_self_service_filling_stations

#33 WUL on 10.13.18 at 6:26 pm

I’m always content to discuss religion. As a Seventh Day Horizontalist I remain flat on my back Sunday mornings. If you are interested in discussing my spirituality, just don’t phone before noon on Sundays.

Now, if I can find a California website that sells certificates as a Minister in that church for $5.00, I’ll be tax exempt.

Rev. WUL

#34 FOUR FINGERS WATSON on 10.13.18 at 6:28 pm

So what will you do with your marginal propensity ?

#35 Dolce Vita on 10.13.18 at 6:31 pm

#7 Stan Brooks

BTW, nicely said about Italy % debt vs. Canada.

You are absolutely correct about the debt numbers.

True, Italy may well nix CETA.

The reason is that Canada’s grains are Roundup tainted and other agricultural products are anabolic steroid, antibiotic, GM infested, enough to choke a horse, if not kill it.

We do not have these things in our food system in Italy and nor do we want them shoved down our throats by the EU (on a personal note, it would be nice if Cdn. Maple Syrup was cheaper here in Italy, then again, who knows what they did to those Maple Trees…the leaves and trunks look a lot larger than they used to be).

People visit Italia and say the food is great. They think it is the cuisine, it is half that. The other half is that it is truly steroid, antibiotic, GM free – why it tastes so good.

No need for ridiculous “Free Range” designations here. You do not get shiny chemical coatings and maturity induced tomatoes in Italy, you get them as picked from a garden, warts and all. Same for the rest of Italian produce and it tastes an order or magnitude better than the shiny, pretty, way to big to be from nature Canadian grocery store produce.

Behind this anti-Italy populist Gov is EU Commission President Jean-Claude Juncker (“Hi, I’m an alcoholic and when I recently stumbled in public last month, it wasn’t the vapors.”, I like Globalism and I am unelected but like to dictate terms to elected EU Gov’s).

There you go Stan, a rant worthy even of you.

#36 Leo Trollstoy on 10.13.18 at 6:38 pm

Clearly no knowledge by author about US midterms

Dems only have a decent opportunity to take the House not the Senate

#37 WUL on 10.13.18 at 7:05 pm

Re: My Learned Friends – Rosenstein/Mueller and Trump’s Travails

!!!!!!!….

I have to go out soon on the mean streets of Calgary for the evening so I won’t sully this worthy place beyond this:

1983 – Jackson Browne – “Lawyers In Love”

“Last night I watched the news from Washington, the Capitol
The Russians escaped while we weren’t watching them
Like Russians do

Now we’ve got all this bloom, we needn’t got the room
And I hear the U.S.S.R will be open soon
As vacation land for lawyers in love

Lawyers in love
Lawyers in love”

https://www.bing.com/videos/search?q=lawyers+in+love+jackson+browne+youtube&view=detail&mid=5576A682DBB7AC0AC1285576A682DBB7AC0AC128&FORM=VIRE

WUL – LLB

#38 FOUR FINGERS WATSON on 10.13.18 at 7:05 pm

We don’t need no stinkin’ pipelines ! Get a bike !

The Lower Mainland is in line for a record-setting price at the pump.

Metro Vancouver is expecting record high gas prices after an explosion at a natural gas pipeline near Prince George earlier this week.

Prices at the pumps jumped four cents Thursday to 161.9 per litre at several Vancouver gas stations Friday, tying the current record set in April.

GasBuddy.com analyst Dan McTeague expects prices to jump another two cents on Saturday to a historic 163.9 cents.

The spike comes after a 900 PSI natural gas line operated by Enbridge ruptured north of Prince George on Tuesday, forcing crews to take it and a neighbouring pipeline out of commission.

According to McTeague, oil refineries in Canada and the U.S. use natural gas to produce gasoline and have had to cut down on production in the wake of the blast, sending prices at the pumps soaring.

As of 7 a.m. Saturday, gas prices in the Okanagan were 140.9.

#39 Terry on 10.13.18 at 7:07 pm

A very well done respectful informative blog post article Ryan! Instead of bashing Trump and name calling him which only creates more division and anger, you merely pointed to “the facts” and the “what if’s” political risks that you will be monitoring going forward.

Good Job!

#40 Flat Earth Society on 10.13.18 at 7:10 pm

If the Dem’s take back either the house or the senate, let alone both, I predict a Yuge selloff. This week’s market behavior was probably just a prelude caused by risk-off trading by people who think the same way. There is no way anything gets done in the next 2 years with President Mike Pence and a Dem majority. So let’s hope the angry mob doesn’t win.

President Trump may well be crazy, but he’s quite right when he says socialism would do to the US the same thing it did to Venezuela. Always has, always will. The only way socialism ever works for a period of time is if you have a large pool of resources, especially oil, that you can export to the free world. That’s what floated the Soviet Union for so long and floats Norway now. It’s also what floats Canada. You also need very tight immigration policies or your socialist utopia will be overwhelmed by waves of economic migrants as is happening in Europe.

When considering policy it is imperative to remember that people always act according to their own perceived best interest. Thus, if the poor perceive they can improve their lot by voting to tax the rich, they will. However, once the rich realize they no longer receive any clear advantages from working, they lay down their tools. (I’m not talking about the ultra-rich here, they never pay taxes no matter what form of government they operate under. I’m talking about the working rich.) So in a socialist state you always have a gradual increase in the number of recipients of welfare and a gradual decrease in the tax receipts and work being done, until the state collapses. It has to work this way because it is human nature to seek the highest benefit for the least amount of labor.

The only way to create real wealth is through labor. Therefore for a political system to succeed it must reward labor. Ingenuity plays into it too, but that is really just a form of high value labor. If you remove the incentive, you’ll not get any labor or ingenuity. A person must get to keep the lion’s share of what they produce or they will not produce. This is why socialism always fails.

Another modern example of this is what’s going on in South Africa with the so called “land reform”. I don’t want to get in to the “justice” of it or whether the whites actually stole land and all that, but the threat of “confiscation without compensation” has caused all the farmers to lay down their tools. Even the Zulu king Goodwill Zwelithini has identified this problem, although he has been called a “sell-out” for it. It’s the exact same thing that happened in Zimbabwe. And how is the land to be redistributed? To whom? So all that happens is you go from one person owning the land who knows how to farm to another person owning the land who does not. What does that accomplish? And there are already property taxes in place to ensure whoever does own the land pays for the privileged of doing so.

https://www.news.com.au/world/africa/zulu-king-goodwill-zwelithini-backs-white-farmers-against-land-seizures/news-story/7553b0215793aa624e5b7d374fb986cf

Socialism destroys everything in it’s path. So if the angry mob wins, sell everything and head for the hills. The deplorables are, unfortunately, our only hope. This is why markets are correcting and why I believe if the Dems retake the house or the senate there will be a massive selloff. What we saw this week was merely a prelude.

There is no way to increase wealth by dividing it.

#41 Rick on 10.13.18 at 7:14 pm

Republicans will keep both houses, nuff said. Hope you manage money better than your political predictions.

#42 old gringo on 10.13.18 at 7:19 pm

“MAKE AMERICA GREAT AGAIN”,
by convincing Trump to go to the theater tonight!

#43 Flamen Lupanares on 10.13.18 at 7:19 pm

Re #32 WUL

Get ordained here: https://dudeism.com/ordination/

#44 Jacob R Mogg on 10.13.18 at 7:30 pm

“equivalent of the UK having their cake and eating it to.”

Hahaha…Or the worst of both worlds as otherwise described by half the cabinet. To be then left with the uk laws then set by the EU with absolutely no say.

T May will go down in history as the worst leader ever. Someone who was handed a royal flush and still managed to balls up the easiest negotiation in the history of politics.
The only reason the EU don’t want the uk to leave is we are only one of about 3 countries who pay the vast bulk of all the money into the EU. Without the UK the whole EU project unravels as they are bankrupt.
Mogg for PM…

#45 Linda on 10.13.18 at 7:54 pm

Trump is more likely to only serve one term as POTUS than be impeached. From what I’ve read, it is a slow, grueling slog of a process & by the time Congress got its act together, the next election would be probably have occurred. I just don’t see the will to impeach him at this point in time.

#46 NoName on 10.13.18 at 8:10 pm

@DV

We do have variety of non gmo-d food at reasonable price here in Canada, i started buying Italian non gmo pasta years ago, but problem is when cooked is kind of “britlle” funny to see us eat pasta with spoon.

Now that am on pasta topic, mom mother ustoo made best ever penne, with feta chease. Very simple, boil penne, add butter and add feta chease. Tomato onion cucumber and red pepper salad wit olive oil, balsamic vinegar as a side. Montreal stake seems to best mix for seasoning salad.

And one more thing on my driver’s license i do have stainless steel colander, i tell them its pastafarian thing, but between you and me, is just better looking and breathable tin foil hat.

This is not joke, i am dead serious.

#47 Doug in London on 10.13.18 at 8:11 pm

@espressobob, post #26:
My thoughts exactly. I wonder how many here took advantage of the Black Friday sales, which came 6 weeks early this year.

#48 For those about to flop... on 10.13.18 at 8:41 pm

Hey WULLY,got any tips for this Taswegian to help me through the harsh winter that is expected?

Vancouver gets let off lightly compared to the rest of Canada, but as I work my way through my 40’s each one gets harder.

A new year,a new bunch of injuries that the cold eats for breakfast.

I’m like Mickey Rourke in The Wrestler,just a big heap of broken down meat.

It gets cold where I’m from, but it’s the length of the winters that I have yet adapted to.

I’ve played football on grass so frozen that the NHL has played on worse ice for one of its Heritage Classics.

While it was beautiful day in Vancouver and anyone concerned with winter probably was getting snow tires put on,I succumbed and dusted off the only tool I know that gives this rough and tumble construction worker any chance of making it through the winter in one piece.

My cheese and ham toastie maker…

M44BC

#49 Ryan Lewenza on 10.13.18 at 8:41 pm

Weiner “Wondering if you think it’s time to start buying some longer term bonds again, particularly corporates. They’ve been taking a hit, but will be handy to have in a recession. Thanks.”

Yup. We still prefer corporate bonds over government. But when we think rates have topped out we could look to increase our government bonds. – Ryan L

#50 bellend on 10.13.18 at 8:45 pm

So what gives Moggy?? Brexit is not going to be resolved by the deadline imo.
Do they get a no brexit can kick?

#51 SoggyShorts on 10.13.18 at 8:47 pm

#43 Jacob R Mogg on 10.13.18 at 7:30 pm

T May will go down in history as the worst leader ever. Someone who was handed a royal flush and still managed to balls up the easiest negotiation in the history of politics.

*************************
“Handed a royal flush”? More like landed in a steaming pile of what one normally flushes…

#52 Ryan Lewenza on 10.13.18 at 8:56 pm

Rick “Republicans will keep both houses, nuff said. Hope you manage money better than your political predictions.”

I didn’t make a political prediction. I thought the 12 ifs covered that. Historically, the incumbent party loses seats in both the house and senate. I don’t think they take both, but they could take one. I think more in probabilities than in absolutes. – Ryan L

#53 AK on 10.13.18 at 9:27 pm

#44 Linda on 10.13.18 at 7:54 pm
“Trump is more likely to only serve one term as POTUS than be impeached.”
=====================================
President Trump will be in office for another 6 years.

#54 Ponzius Pilatus on 10.13.18 at 10:56 pm

The Stonach family saga is typical of people who have too much money.
That’s why I leave nothing behind.

#55 Remembrancer on 10.13.18 at 10:58 pm

#45 NoName on 10.13.18 at 8:10 pm
and me, is just better looking and breathable tin foil hat.

This is not joke, i am dead serious.
—————————————————————-
A colander helmet is like a screen door on a submarine, the beams come straight in through the holes and are more concentrated silly. Get that Canadian aluminum tin foil head covering proto…

#56 FOUR FINGERS WATSON on 10.13.18 at 11:10 pm

Clinton was impeached. He never left office. They took away his law license. Big deal.

#57 David Paquette on 10.13.18 at 11:53 pm

Yeah, Ryan. There are times when you have to get tough – “are you going to get mad at me again”. Something I say to my sister but I am not innocent – I can be the devil. I could have turned evil but good men showed up when I needed the help. My father turned out to be a hero although we had issues.

The markets are treating me badly these days. I will not back down. I made a conscious decision to get dividends over capital gains; after all I am getting old. Things work out for me when I am patient and make the right choices – hah. I make mistakes and learn from them. Gold has my interest.

#58 Shawn on 10.14.18 at 12:50 am

Interesting insight and comments. Thanks Ryan!

#59 Smoking Man on 10.14.18 at 1:35 am

29 Muttley O’Toole on 10.13.18 at 6:00 pm
Dr. Smokey @# 15 & Deplorable Dude @#24 I reckon got it right young Ryan.
Maybe you should lift your head from the financial journals & have a look occasionally at what’s happening in the real world and not the world according to the “fake news” media.
P.S What sort of crash helmet are you wearing?
…..

Go easy on the dude. He’s somewhat a celebrity. He gets on tv.
He knows the same shit we do. Not an idiot. You can’t be a successful portfolio manager without knowing every layer of the onion.

Let’s face it. Every well financed Soros libtard are scanning for disloyalty. Non compliance. To destroy them.

Doug, Ryan and the great Gartho know how to play the game.

So do I. Create a drunken character that cant spell. A no body with small followers, so they think.. I can get away with free speech.

They can’t.

Dr Smoking Man
PhD. Herdonomics.

#60 Jacob R Mogg on 10.14.18 at 2:33 am

#50 SoggyShorts

It’s only a steamin pile because of who is holding it.
She voted the other side and never wanted to actually implement the result, therefor she has just wasted nearly 2 years saying one thing and doing the opposite
She has created the mess herself. Her “checker” plan is so bad neither side want it, only her. I cannot believe she is that stupid, therefor this mess has to be by design.

I wonder if she heard the phrase 5th columnist.

#61 majik on 10.14.18 at 3:18 am

#3 Joshua on 10.13.18 at 1:40 pm
I remember reading about European countries to stay away from; Portugal, Italy, Ireland, Greece and Spain (which creates the unfortunate acronym PIIGS) due to their debt to GDP ratio and overall fiscal policies/ responsibility.
————

You should probably remove Ireland from that list now. Irish current government debt to GDP ratio is better than Canada’s. Ireland was lumped in with the other listed EU countries at the onset of the GFC. However it did not have the initial sovereign debt problems like Spain or Italy. The Irish government took on failing bank debt, nationalising it through the issue of government bonds. That spiked the national debt between ’09 to ’14 but the government agency tasked with managing the former bank assets, NAMA, now posts multi-billion euro profits. Most of the bank debt is well paid down.

Even discounting the billions Apple, Google and Facebook funnel through their EU HQ ops, Ireland’s economy is still on course to be the best performing in the EU in 2018.

#62 not so liquid in calgary on 10.14.18 at 3:56 am

Italy has always loved debt. By joining the EU, and using the common currency, it has allowed them to borrow more, at lower rates, as the Euro was deemed to be a much stronger currency than the lira

#63 WUL on 10.14.18 at 4:33 am

FLOP:

Authorize the Garthster to send your email addy to me. I’m in YVR Nov 8 – 14 on biz. I’ll meet you at one of the four Starbucks at West 41st and Collingwood.

I’ll bring my 20 ounce Estwing and we’ll drive some 3 and 1/2 inch coated nails together. I’ve got nothing better to do.

Until then, if you reach the end of your rope, tie a knot into it and hang on. I’m the short guy with grey hair, gasses and a snazzy suit.

Hell, if there was a dawgapaloozoa in ON, why not YVR.

Garth?

#64 Tony on 10.14.18 at 6:15 am

Well all we can do is sit back and hope Trump gets impeached as soon as possible.

#65 Tony on 10.14.18 at 6:19 am

Re: #52 AK on 10.13.18 at 9:27 pm

No president under Trump’s sun sign has ever done two presidential terms. Hopefully that will stay intact.

#66 Steven Rowlandson on 10.14.18 at 7:18 am

Canada’s government debt, including crown corporations and provincial debt is 90 % of gdp
https://tradingeconomics.com/canada/government-debt-to-gdp

Canada private debt is 267 % of GDP.
https://tradingeconomics.com/canada/private-debt-to-gdp

Some might see this as a good thing as such debts might be their assets. From my point of view it is clearly a failure in fiscal management and judgment. One might even call it a national disgrace and it will end badly for the country. Copy this, print it and hang it on the wall. It may have historical significance.

#67 Grandma Moses on 10.14.18 at 8:11 am

Mayor Moonbeam Robertson is on the way out after 10 years and who does he blame for the rise in real estate prices….”the flow if foreign capital”.

https://newsinteractives.cbc.ca/longform/riding-away-gregor-robertson

Is it possible that the truth has been restricted from being made public by those who knew the truth all along? Is bullshitting the public ‘a Canadian vslue’ for the politically correct.

#68 Ryan Lewenza on 10.14.18 at 8:46 am

not so liquid in Calgary “Italy has always loved debt. By joining the EU, and using the common currency, it has allowed them to borrow more, at lower rates, as the Euro was deemed to be a much stronger currency than the lira.”

Agreed. That’s why leaving the EU is not an option. Their borrowing costs would sky rocket, blowing up their finances and balance sheet. They need the EU to piggyback off their lower interest rates. – Ryan L

#69 Kelly on 10.14.18 at 8:56 am

Well stated #24 Deplorable Dude.
MSM followers unfortunately will have no clue what you are talking about.

Opening up and acting upon just a few of the 50 thousand sealed indictments before the mid-terms will change the political world and the financial world.

No big deals in Europe financial uncertainty (we have so been there before in financial crisis that came and went). Hopefully, May will be booted and Brexit will take place under a leader who actually voted for it.

As for Q4 being yet another good quarter based on history, I have my doubts this year.

#70 NoName on 10.14.18 at 9:19 am

#54 Remembrancer on 10.13.18 at 10:58 pm

You have to be careful with that aluminum because what they don’t telling you is that aluminium conductive properties are being greatly afected as aluminum is exposed to oxigen, conductivity decreases greatly as aluminum oxidation progresses so a hat become just a fashion statement after a while…

Comparing colander to Al foil hat, quality steinless steel colander conductivity is relatively constant and on top of that never looses its own original function as a pasta strainer. So decide what is best for you, iam sticking with colander.

#71 dharma bum on 10.14.18 at 9:52 am

Meh.
Whatever happens, happens.
It’s the usual ebb and flow of the markets.
In the short term, a little hype. A little hysteria. Some MSM frenzy. A few hissy fits here and there.
Maybe a riot or two.
Things will settle down, then UP she goes again!

#72 NoName on 10.14.18 at 10:03 am

oh Kanada

https://twitter.com/MaximeBernier/status/1049784898444120064

(scroll down to see screen grab of AV tweet)

#73 Purrfect on 10.14.18 at 10:07 am

The “loonie left” and “right wing cement heads” have a common and powerful trait – blind ideology. Neither side is capable of civil debate.

#74 dharma bum on 10.14.18 at 10:20 am

#59 majik

You should probably remove Ireland from that list now. Irish current government debt to GDP ratio is better than Canada’s.
——————————————————————–

Yah Baby! Ireland ROCKS!

https://www.youtube.com/watch?v=etrOK4XTTS8

https://www.youtube.com/watch?v=KZnew6mzVsE

#75 crowdedelevatorfartz on 10.14.18 at 10:35 am

“the Italian government may use this as leverage to justify an exit from the EU, which would have major ramifications for the EU economy and stock market. I see this as a remote possibility but nothing surprises me these days….”

++++

While I agree that Italy will threaten to leave the EU and the economic ramifications will be felt far and wide…….
I dont believe it will be because of their deficit spending.
The voters there ( and here) dont seem to give two fartz in the wind about govt deficit spending.
And if Italy does default on its loans….ooooo baby. It’s economy aint Greek so the ramifications will be felt world wide and the fall out painful for everyone.
The latest minority govt in Italy( in a long line of them) used “immigration” or more pointedly, refugees as their populist siren song. Not the deficit.
Thousands upon thousands of migrant refugees from African and the Arabian penisula overwhelming the govt agencies assigned to deal with them…..
And the EU ?
Dithering as usual. Professional beaurocrats extremely adept at collecting pay cheques and talking about issues while achieving nothing.( similar to most govt beaurocrats world wide I suspect)
Italy scrambles to deal politically and economically with thousands of undocumented migrants who may or may not be the next wave of illegal workers or terrorists.
Immigration and the EU’s unpopular policies are why Britain is teetering on the brink of Brexit.
Italy is at the precipice of leaving.
Germany is in minority govt status ( opening the doors to one million refugees to relieve the pressure on Europe just about garanteed Merkle’s political demise).
Now?
We have populist extremist parties on the rise all over Europe. Even in Sweden for god’s sake.
We have Turkey threatening to “throw open their borders” and expel thousands more refugees into Europe if the EU doesnt give the country billions in aid ( which they have).

Deficits as an issue?
Pffft.
Voters everywhere in the world couldnt care less about deficits and the craven politicians that scurry onto a soapbox to spew vitriol know that better than any beaurocrat.
No. If Greece is any example.
The politicians of Italy will point the finger at anyone BUT themselves to lay the blame.

And while the European Union seemed like a great idea for a common currency and a tariff free market….
When a foreign govt in Brussels sends inspectors into your Bed and Breakfast in Stratford on Avon to check if the clothes hangers in your guest closets are up to EU standards…….. It doesnt foster a lot of love.

#76 oh boy... on 10.14.18 at 10:48 am

another useless fundamental discussion. all that matters is the charts. emerging markets are getting slammed. the tsx slammmed. the dow and spx are a potential double top. they have all broken down below their long term moving averages. interest rates are spiking. 3.25% drops the dow 1500 points. the fed will raise 3/4 – 1% at a minimum by next summer. that takes the ten year treasury to 4 – 4.25%… look for a much bigger drop ahead. fundamentals are totally useless.

#77 crowdedelevatorfartz on 10.14.18 at 10:57 am

@#65 Grandma
Mayor Moonbean
+++++
Ahh yes.
The same “leader” that promised to “end homelessness” in Vancouver ( its much much worse with the Fentynal cherry added to the “cake”)

The same “leader” that looked great in photo ops but was no where to be seen immediately after the riots.

The same “leader” that oversaw the affordability crisis in housing and encouraged more speculation .
All while he bought and reno’d a house on fashionable Point Grey Rd and then watched as his councillors legislated “local traffic only” barriers to cars. ( helps the resale price)
The same “leader” who allowed administrator Penny Ballem to run things with such an iron fist he was forced to turf her unpopular butt out ( with a huge reported severance natch) before the City staff revolted.

And now?
Gregor the Dim knew two years ago he was so unpopular he wouldnt stand a chance in the next election.
He’s scurrying off into the sunset with rumours the Trudeau Liberals are ready to offer him a plum position if he will run for them and win……

And the new mayoralty race in Vancouver?
It looks like professional NDP politician Kennedy Stewart ( with massive union , NDP election money) from Burnaby ?……will be a strong shoe in.
Kennedy Stewart via Nova Scotia who’s greatest claim to fame while serving as a Member of Parliament in Burnaby was getting arrested this Summer at the Kinder Morgan protests( any pro environmental publicity is good publicity in an election year right Kennedy?)
AND he vacated his safe NDP seat for the unelected leader of the Federal NDP ( kinda explains the election war chest doesnt it?) Jagmeet Singh.
Jagmeet who must run in a By Election in the subserviantly vacated seat before next years’ Federal Election.
And, according to local wags, his campaigning isnt going so great……. Even when Elizabeth May announced the Green Party wouldnt run against him “as a courtesy to the Leader of another Party”…… so much for the public’s voting choices……

Stay tuned, its never boring on the Left Coast and civic polls close in two weeks…… :)-

#78 millmech on 10.14.18 at 11:16 am

https://www.msn.com/en-ca/money/topstories/vernon-rental-home-trashed-beyond-belief/ar-BBOiRlD?ocid=spartanntp

#79 Smoking Man on 10.14.18 at 11:37 am

“Life should not be a journey to the grave with the intention of arriving safely in a pretty and well preserved body, but rather to skid in broadside in a cloud of smoke, thoroughly used up, totally worn out, and loudly proclaiming “Wow! What a ride!”

He was the first Deplorable.

#80 AK on 10.14.18 at 11:42 am

#74 oh boy… on 10.14.18 at 10:48 am
“another useless fundamental discussion. interest rates are spiking. 3.25% drops the dow 1500 points. ”
====================================

Higher interest rates are bullish for the US economy. There will be a time when higher interest rates will impact stock markets, but at levels much, much higher than today.

#81 Smoking Man on 10.14.18 at 11:53 am

I’m calling with 100% accuracy a Red title wave at the mid terms.
Economist have charts. Herdonomics measures the pulse of the herds brain. Political Correctness is the sharpend wooden stake that will slay the Demoncrats.

Written by Ben Shipiro he’s must be following me on GF

Why the sudden shift against PC? According to a CBS News/New York Times poll, just 59% of Americans opposed political correctness in 1993. That group grew to 73% nationally by 2016, according to Gallup and the University of Virginia. Now the Hidden Tribes report pegs that number at 90%. If I had to wager a guess, I suspect the Left’s adoption of transgender ideology, with its consequent policing of pronouns and official gender categories, has proved the final straw. The Left’s invention of euphemisms like “dreamer” for “illegal alien” and “justice-involved youth” for juvenile delinquent” may indict political correctness as frivolous, but its insistence on denying basic sexual facts of nature exposes it as a destructive lie. It’s one thing to wish your colleague “happy holidays” at Christmastime. It’s quite another to follow that man’s daughter into the women’s changing room at the public pool.

#82 MaxBerniersShorts on 10.14.18 at 11:53 am

#34 Dolce Vita
I don’t know what the Italian equivalent of Kool Aid is but you’ve apparently drunk it. With its succession of weak or erratic leaders it’s clearly the sick man of Europe.
https://www.google.ca/amp/s/www.nytimes.com/2018/10/12/business/italy-debt-crisis-eu-brussels.amp.html

#83 Real Facts on 10.14.18 at 12:00 pm

The Facts

Presidents Andrew Johnson and Bill Clinton were impeached by the U.S. House of Representatives, but acquitted by the Senate. Richard Nixon resigned before he could be impeached.

#84 Fish on 10.14.18 at 12:10 pm

Affordability Index: What Should You Do When Affordability Is A Problem?

https://debtsolutions.bdo.ca/2018/10

Why The Bank Of Canada Is Concerned About Canadians’ Household Debt
https://debtsolutions.bdo.ca/bank-canada-concerned-canadians-household-debt/

#85 NoName on 10.14.18 at 12:18 pm

Interesting read

https://newrepublic.com/article/151159/tim-geithner-resistance-inside-obama-administration

According to credible accounts, Geithner slow-walked a direct presidential order to prepare the breakup of Citigroup, instead undertaking other measures to nurse the insolvent bank back to health. This resistance to accountability for those who perpetrated the crisis, consistent with Geithner’s demonstrated worldview, had catastrophic effects—including the Trump presidency itself.

#86 Evangeline on 10.14.18 at 12:22 pm

#28 Dolce Vita on 10.13.18 at 5:59 pm “Balance. A good thing.”

It never goes out of style.

Abbracci gratis a Sondrio, 15 maggio 2010

https://www.youtube.com/watch?v=hN8CKwdosjE

#87 Shawn Allen on 10.14.18 at 12:25 pm

Individualism versus collectivism, tribalism, socialism

Western economies arguably largely thrived and grew because of the rewards to individual efforts coupled with sufficient government to insure safety and property rights and the rule of law as well as needed public works.

Yet politics and also economic policy is often all about tribalism and talk of “we” Albertans and “we” Americans as if “we” were a commune or something.

The two views seem to co-exist uncomfortably…

Perhaps it’s human nature, one day many of us will send money to help alleviate a natural disaster in Haiti and the next day the same people might be openly discriminatory towards various foreigners. We can be profoundly charitable one minute and profoundly selfish the next it seems.

#88 oh boy... on 10.14.18 at 12:43 pm

Higher interest rates are bullish for the US economy. There will be a time when higher interest rates will impact stock markets, but at levels much, much higher than today.
__________________________________

ya. right. lol
thats why its taken ten years to get to 2%, because higher rates are great

stocks are over valued, over leveraged and the fed raising rates will put a brake on the US economy. next years earnings will be lowered and stocks will have a very nice adjustment.

its already started

#89 KLNR on 10.14.18 at 12:50 pm

@#71 Purrfect on 10.14.18 at 10:07 am
The “loonie left” and “right wing cement heads” have a common and powerful trait – blind ideology. Neither side is capable of civil debate.
_________________________

yup, theres a word for that ‘idiotology’.

Idiotology is utterly blatant (and annoyingly vocal and overt) stupidity combined with a bucketful of ignorance.

lots of folks on here suffer from this malady.
You know who you are. ahem… stan, dd, dol…

#90 Buy? Curious? on 10.14.18 at 1:07 pm

DELETED

#91 Gravy Train on 10.14.18 at 2:32 pm

#83 oh boy… on 10.14.18 at 12:43 pm
“[S]tocks are overvalued, […]” How would you know? All the earnings reports aren’t out yet! :)

“[…] overleveraged, and the [F]ed raising rates will put a brake on the US economy.” The Fed’s aim is just to cool price and wage inflation without contracting GNP. I’m sure they have a better handle on things than we do! :)

“[N]ext year’s earnings will be lowered, and stocks will have a very nice adjustment; its already started.” We’ll see. :)

#92 Crazyfox on 10.14.18 at 3:48 pm

Here’s the thing about geopolitical risk, Ryan. Its one thing to face geopolitical risk when the markets have nowhere to go but up. Its quite another to face geopolitical risk with the markets in a bubble and nowhere to go but down. These markets are all by them selves, in a state of risk due to valuations not seen in the Nasdaq since the dot.com days and the DOW, since 1929.

That all by itself is sobering.

Enter Trump who is not famous for telling the truth, or serving the people. The old expression “don’t listen to what they say, watch what they do” is all one needs to practice at this point.

– Lets start with Iran.

Trump policies with Iran have directly led to, what is it, 2 million barrels of oil per day of Iranian production being shut in as a result of trade embargos? This has directly led to oil being $10 dollars higher or more world wide than what it should be today, not to mention Iran is in recession and they know who and why.

– Trade war with China

Who benefits from higher inflation leading to higher interest rates in a debt laden western world? Its not the western world. Only a traitor would come up with policy this dumb but there’s more to it. To get the support of Republican donors back home, this policy would have to drive up the price of oil (think Koch bros and their like minded interests) and this, it does by killing the cost effectiveness of solar and wind imports. This policy all by itself is pushing back the desperately needed push towards green tech/energy, especially coupled with the end to green tech subsidies.

– EPA fuel standards are being rolled back, increasing energy consumption and pollution, shortening lives of everyone in the cities and increasing the rate of climate change. We are already at 3 ppm C02 increases per year. Under Trump that number is set to go higher, perhaps as much as 4 ppm of C02 per year higher within 10 years and its effects are bearing dangerous fruit.

Everything about Trump reeks of inequality. Just watch one rally and you will see it over and over. There is a constant us vs them theme of inequality, flattery of those who are superior to, and constant put downs of those who are inferior of. When will humanity finally learn that the ideals and practices of inequality lead directly to offenses played out by all forms of discrimination, grudges, hatred and conflict/war? When will humanity finally learn that the ideals and practices of equality lead directly to defenses played out by mutual respect, forgiveness, love and peace? When will humanity finally learn and practice the egalitarian ideal summed up best as valuing everyone as equal regardless of our differences? (look around… many don’t) We won’t learn it from Trump and this is why Trump so badly needs to be replaced but here’s the thing. Trump is the symptom. Trump had help getting to where he is today. He was enabled and if Americans collectively can’t see who and why and care beyond their wallets, Canadians will be watching an empire crumble right beside us, taking us with it.

This is what happens when the nation’s most powerful world choses (sort of) a narcissist to run the nation. The wrong choices get made and at some point, the karmic consequences come home to roost. We’ll see it with pollution, we’ll see it with strains and breakdowns in our systems of government, economy, trade, all of it and as time rolls on, so does the risk of war and as world populations continue to increase, the stakes only get higher.

That’s all I have time for today, unfortunately.

#93 Brian Ripley on 10.14.18 at 4:18 pm

To be clear, I’m not insinuating that there is anything nefarious between Trump and Russia. I just don’t know. But often when there’s smoke, there’s fire… Ryan

At the time of the U.S. November 2016 election of Trump I checked his score on the Hare Psychopathy Checklist and published it here: http://www.chpc.biz/history-readings/trumped

Fire.

Then in May of 2017 I noticed some references to Trump’s Sociopathic Narcissism
http://www.chpc.biz/history-readings/category/trump

A primary source of anxiety that lives within the sociopathic narcissist is a terror of ruinous disillusionment which would ultimately terminate in a catastrophic exposure of what is in essence a fraudulent existence. As the risk of exposure intensifies, be it in a dyad or more macro group structures, their intrapsychic constellation becomes increasing more fragile and their manifest behaviour becomes more erratic… John C. Espy Karnacology, March 01, 2017

Fire.

If you are interested in a bigger picture other than the lies of Trump, check out the lies generated by “special interest” groups such as the Koch Bros et al in Nancy MacLean’s new book Democracy in Chains, The Deep History of the Radical Right’s Stealth Plan for America
https://www.penguinrandomhouse.ca/books/533763/democracy-in-chains-by-nancy-maclean/9781101980972

An explosive exposé of the right’s relentless campaign to eliminate unions, suppress voting, privatize public education, stop action on climate change, and alter the Constitution… Penguin Random House Canada

Fire.

#94 majik on 10.14.18 at 9:17 pm

#72 dharma bum
————
Thanks for your links that contain narrow minded stereotyping that borders on racism.

#95 Ace Goodheart on 10.14.18 at 9:20 pm

If they impeach Trump the United States as a country is done.

It will be civil war.

I don’t think the powers that be, salaried pension seeking herds that they are, are quite that stupid.

The idea is keep the country going while justice appears to be done and the gun toting masses don’t rally on the corridors of power.

Seriously though, for all his flaws Trump has electrified the muddy masses like a Prozac Viagra steroid. He has brought to life the sleeping beast of American middle class desire and hope and mixed it with the dirty mud flats of broken humanity that make up the vast portion of the American forgotten.

Do not underestimate “Trump Nation”

These people are incredibly angry, have nothing to lose, are very well armed and do not mind taking the law into their own gunpowder stained hands. They are not to be messed with, right or wrong.

They are the beast. In all its unpredictable and unwashed glory.

#96 No climate change-just idiotic people on 10.14.18 at 9:55 pm

“Desertification is a fancy word for land that is turning to desert,” begins Allan Savory in this quietly powerful talk. And terrifyingly, it’s happening to about two-thirds of the world’s grasslands, accelerating climate change and causing traditional grazing societies to descend into social chaos. Savory has devoted his life to stopping it. He now believes — and his work so far shows — that a surprising factor can protect grasslands and even reclaim degraded land that was once desert.

https://www.youtube.com/watch?v=vpTHi7O66pI