RYANBy Guest Blogger Ryan Lewenza
.

I disagree plenty with President Trump’s policies and approach on how to “Make America Great Again”, but I do commend him for thinking big or “bigly” and him trying to improve the lives of the American people. We’re seeing similar long-term and strategic thinking from other countries and world leaders.

In China, President Xi Jinping is championing a huge initiative called the One Belt One Road, which is a mega-project linking China with 70 countries across Asia, Europe and Africa to foster global trade and economic growth. And notwithstanding the abhorrent move by the Saudi’s in the murder and dismemberment of dissident journalist, Jamil Khashoggi, the Saudi’s announced their own major initiative called the Vision 2030, which maps our their long-term strategy to modernize their country, reduce their reliance on oil, and diversify their economy into new fields like technology, health care and alternative energy.

My question is this: What is our long-term vision for Canada and what policies and initiatives are we advancing to ensure our long-term prosperity? Where are our leaders who need to think big and ensure we’re not left behind in this rapidly changing global economy?

In this week’s blog I put forward my vision for Canada’s future and what we should to do to “Make Canada Great Again”.

First, we need to address our loss of competitiveness across a number of areas. Most notably is on the corporate tax side. As seen below, Canada’s corporate sector had a competitive edge versus their US peers with a Canadian statutory corporate tax rate of 26.5% versus the US at 35%. However, this all changed last December when President Trump and the Republicans passed historic tax reform cutting the corporate tax rate from 35% to a low 21%.

Additionally, in the US tax reform package it now allows businesses to expense 100% of depreciation of certain investments in the first year versus 50% previously. This huge tax break provides a big incentive for businesses to make capital investments, putting Canadian corporations in a tax disadvantage to their US peers. The combination of a lower corporate tax rate and faster depreciation expensing makes the US a much more attractive place for corporations to invest. We should look to address this.

And it’s not just taxes. Canada should look for ways to make smart deregulations, foster and encourage innovation in key areas like AI and robotics and critically, invest in skills training programs to ensure our workface is properly positioned for the jobs of the future. All of these actions would make Canada more competitive and attractive to businesses.

Canada’s Loss of Corporate Tax Competitiveness

Source: Trading Economics, Turner Investments

In contrast to President Trump, who’s a bit of a trade protectionist and not a strong proponent of free trade agreements (i.e., TPP), I believe Canada has to take a different approach and look to aggressively expand trade with other countries. For a large exporting nation like us, we need to get our products to more regions and markets.

Take the Trans Mountain Pipeline for example. I’m a big supporter of the pipeline expansion, which essentially “twins” an existing pipeline. This would triple capacity from 300,000 bls/day to 900,000, with more oil flowing through BC and ultimately to new growth markets. Right now we basically have one buyer for our oil (the US) and because we’re landlocked with insufficient pipeline capacity, our oil (much of it priced at Western Canadian Select prices) now trades at a record discount to US WTI benchmark oil prices of $40/bl.

Working with our energy team I calculated what this record discount means for our country in lost revenues and currently this equates to $90,000,000 every day of lost revenue. This is the equivalent of Apple selling their iPhones for $300 when they could get $1,000 for each phone. We’re literally throwing away millions of dollars out the window every day because we lack gumption and foresight to expand our outdated pipeline network and sign new trade deals with other countries. As I’ve said before, this is a layup and we can’t seem to even get this critical project off the ground.

Revenue Loss Due to Record WCS Discount

Source: Bloomberg, RJ Energy Team, Turner Investments

Next up is the need for a comprehensive plan to upgrade our aging infrastructure. I think this is one of the most critical initiatives required to modernize our cities, improve productivity, increase economic growth and enhance the day to day lives of so many Canadians.

In a report issued by the Canadian Chamber of Commerce, they cited “Ten thousand years is how much additional time commuters in Toronto, Montreal and Vancouver spend stuck in traffic every single year as a result of road congestion from key bottlenecks in those cities”. Yikes! It is estimated that we’ll need to spend as much as $500 billion to address our growing “infrastructure gap”. This includes things like upgrading roads and bridges, investing in transit and subways and expanding our ports to reduce congestion and bottlenecks. Initially I was excited when the Federal Liberals announced major increases to infrastructure spending when they first came into power but I think they have dragged their feet on this critical file.

Finally, I’ve always been a balanced budget guy, except for economic downturns when stimulus is required. We had a good run from 1998 to 2008 for surpluses but have since dug ourselves into a big fiscal hole. Yes I support increased spending on critical infrastructure programs to improve productivity and stimulate economic growth, but we need to look long and hard at other areas and see where fat could be cut so we can return to a balanced budget.

Trudeau should follow Paul Martin’s approach when he was the Finance Minister in the 1990s. Mr. Martin made the tough but right decision to significantly cut government spending in effort to address Canada’s chronic deficits. While this tough approach led to a short-term hit in the economy, it helped return Canada to a balanced budget, it lowered our debt-to-GDP ratio from a record high 70% to 50%, and restored Canada’s debt to triple A rating by the rating agencies. His actions are in part why Canada has one of the lowest Federal government debt-to-GDP ratios in the world.

In conclusion, we have to break free of our parochial thinking, and think big and long-term about where we want to be in the next 10, 20 and 50 years! We need to develop and implement smart strategies that will ensure our success and make sure we’re on the right side of history.

Canada’s Deteriorating Fiscal Position

Source: Bloomberg, Turner Investments
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.

 

160 comments ↓

#1 For those about to flop... on 11.10.18 at 1:38 pm

Since we live in a consumer driven economy here’s my plan to make Canada great again.

Since shorter people can only buy products on the bottom three shelves at the supermarket or department store, every Canadian should be paired up with someone over six foot to enable them to consume products on the top two shelves.

As a pilot project Ryan, I would like you to go shopping with Doug Rowat a few times as he appears to be the only person at Turner Investments over six foot, and report back how your spending habits have changed and any increase in spending activities.

Not too worried about Thor Turner, as he can always lift Bandit up to lend a helping paw,although he only seems interested in helping in the pet food section…

M44BC

#2 Shawn Allen on 11.10.18 at 1:42 pm

Also, Let’s… “Make Climate Great Again”

Apologies for off topic but Climate Change and carbon taxes are sometimes debated on this blog.

The problem with fighting climate change or global warming is that, in Canada, changing the climate sounds like not a bad thing. Also, we all know that the weather and the climate changes daily and can even be vastly different from year to year and so it is extremely difficult to document climate change.

Better marketing is needed. For example, fighting the “hole in the ozone layer” got almost universal support even though it was a thinning not a hole. Fantastic marketing!

From now on we should refer to the problem as “Climate Risk”. Who can argue that reducing climate risk is a bad thing?

or “Climate Disruption” who can argue that limiting any human disruption of the climate is a bad thing?

#3 crowdedelevatorfartz on 11.10.18 at 1:42 pm

Ryan.
Excellent topic.
Total agreement.

1.Infrastructure spending in the “Lean economic times”

2.Balance the budget.

3.Reduce taxes or ensure the taxes collected actually go towards verifiable needs….and not frivilous crap like EX Governor General Adrienne Clarksons 1st class plane tickets…..

#4 AGuyInVancouver on 11.10.18 at 1:44 pm

Interesting that you don’t see tackling climate change as a Grand Vision. That’s attitude is why in the long term the human race is screwed.

As to productivity,business owners know they can rely on government for a near endless supply of cheap imported labour. Why invest in expensive automation?

Finally the Globe had a perfect rebuttal today for your theory that cutting corporate taxes helps anybody but the very wealthy:
“Mr. Trump’s tax reforms, which kicked in early this year, were a godsend to investors, especially the wealthiest 10 per cent of Americans, who own 80 per cent of total stock-market equity. The reforms cut the corporate-tax rate to 21 per cent from 25 per cent and gave foreign profits an exceedingly light tax touch. American corporations had parked some US$2.1-trillion in cash overseas.

Now, thanks to the tax reductions, hundreds of billions of those offshore dollars are being repatriated. If you thought they were going to good causes, such as bulked-up research-and-development budgets or random acts of corporate altruism, you’d be wrong. Those fortunes instead are going into buybacks like never before..”

https://www.theglobeandmail.com/business/commentary/article-trumps-cherished-wealth-effect-could-be-a-mirage/

#5 Ryan McGinnis on 11.10.18 at 1:46 pm

Any commendation of Trump makes anything else you say irrelevant. Shocking that people still don’t understand that.

#6 SoggyShorts on 11.10.18 at 1:49 pm

#123 Stan Brooks on 11.10.18 at 11:42 am
#110 The Real Mark on 11.10.18 at 9:15 am

3. Rents are rising everywhere , at least 30-40 % in the last 2 years alone, not sure where you see that deflation except in your dreams.

******************************
No Stan. Did you forget that the GTA is smaller than Canada again? “Everywhere” is just Toronto then?
There is a lot of talk about bubbles on this blog, but one you (specifically you Stan) need to be more aware of is the one your head is in.
Try talking to people outside of OT and BC. No one had a rent increase of 40% the last 2 years.

#7 Rargary on 11.10.18 at 1:50 pm

Who do we owe our debts to? Also, being against Trump doesn’t mean we ignore the good he’s done

#8 Debtslavecreator on 11.10.18 at 1:53 pm

1) tax reform: eliminate all tax credits and deductions except for those with a disability tax credit letter, then eliminate income tax for all on the first 30 k of total income, then 10 % tax above 30 k up to 150 k, and 20 % above this. Total income = all net rents, dividends Salary, capital gains from all but Canadian owned startups – can have smoothing of windfall gains to spread gain over 3 yrs or so, then raise HST by 4-5 % slowly and share 1% with provinces and municipalities
2) Eliminate bank of Canada open market operations and targeting of short term overnight rates. BofC would be the depositary bank for ALL governments tax revenue and provide no more than 5 % of GDP / yr in printed Money via zero coupon bonds issued by the MofF and purchased with printed money at 0 interest
BofC could also be allowed to buy short term Corp paper from corporations during recessions only with job protection guarantees
3) issue tax free govt infrastructure bonds to Canadian resident buyers only and finance good infrastructure projects
4) eliminate all housing subsidies – no more CMHC/NHA and implement a housing capital gain tax if sold within 3 years all is taxed as income with exception of job move
5) no carbon tax or cap and trade and eliminate all UN money and foreign aid

#9 Inheritance on 11.10.18 at 2:05 pm

I need some help, my gramma just left me 125k with a note attached that said the money is to be invested for your retirement don’t blow it cause I’m watching from above. I’m 26 and my tfsa is maxed with all bank stocks. Garth says only buy etfs, so I’m thinking do I buy 4-5 different ones, can someone please recommend the 4-5 to buy Tuesday am
Thanks
Dylan

#10 weinerS on 11.10.18 at 2:06 pm

Agreed Ryan, especially on the tech and infrastructure front. As Daniel Burnham once said – Make no little plans; they have no magic to stir men’s blood and probably themselves will not be realized.

#11 Ryan Lewenza on 11.10.18 at 2:10 pm

Rargary “Who do we owe our debts to? Also, being against Trump doesn’t mean we ignore the good he’s done.”

Our debt is owned by retail and institutional investors, pension funds, foreign investors etc. It’s spread across different investors. And I totally agree you can dislike Trump or Trudeau for that matter and still believe they’ve done some good. – Ryan L

#12 crossbordershopper on 11.10.18 at 2:14 pm

Canada is a joke, run by second rate people, most people who come here couldn’t get in the usa, so they come to Canada.
you cant even build a pipeline, like really, you think trump would have trouble building a pipeline, how hard can it be to build one. and the second fiasco is the government who didn’t want to have legal issues with the American company who half built it bought it and moth balled it. what a joke.
high taxes are here to stay in Canada, get used to it, deficits till the end of time, these immigrants coming will not pay their fair share of taxes , trust me on that I know first hand dealing with them.
the dollar will be in the 6 handle soon, the candian market is a joke run by a bunch of second rate managers. no innovators, designers, in any Canadian companies.
so if you right off the 1000 junior resource stocks, its basically six banks 3 telco, 5 insurance, 3 grocery stores, 5 reits, 3 retailers and 5 oil and 5 gold stocks, and few here and there.
socialist returns in Canada, just like the country, the 10 year average will start to look lousy month by month as the fall 2008 returns get rolled off, Canada is a poor investment climate. cant borrow money, high taxes, cheap customers, lots regulations, actually quite competitive, all in all your wasting your time.
like everything you copy the us, even in a slogan on a hat. just buy the original, that’s why Canada is a cheap cousin of the usa in every way.
its getting colder now, go to florida, did I mention better weather and no state income tax.

#13 Wait There on 11.10.18 at 2:21 pm

Long term?

If people were thinking long term, why is the HELOC situation dire? the herd does not think long term and worse they have extremely short memories.

Oh wait, I used the term think…..I was not thinking right, people don’t think anymore, that requires a PhD. Bachelor degrees are based on memory and following and not thinking. Genrally people no longer think…..they follow…..and social media proves that.

#14 Wait There on 11.10.18 at 2:25 pm

#12,

No innovators so true

#15 crowdedelevatorfartz on 11.10.18 at 2:31 pm

@#9 Dylan
” my gramma just left me 125k ….”
+++++

I have a Nigerian Bank account you can put it in and turn it into $6,000,000.00 overnight………

#16 crowdedelevatorfartz on 11.10.18 at 2:35 pm

@#12 crossbordertaxshirker
“so if you right off the 1000 junior resource stocks, its basically six banks 3 telco, 5 insurance, 3 grocery stores, 5 reits, 3 retailers and 5 oil and 5 gold stocks, and few here and there…..”
+++++

You forgot 2 turtle doves, 3 French Hens and a Partridge in a Pear tree…….

#17 SoggyShorts on 11.10.18 at 2:47 pm

#8 Debtslavecreator on 11.10.18 at 1:53 pm

1) tax reform: eliminate all tax credits and deductions except for those with a disability tax credit letter, then eliminate income tax for all on the first 30 k of total income, then 10 % tax above 30 k up to 150 k, and 20 % above this. Total income = all net rents, dividends Salary, capital gains from all but Canadian owned startups

***********************************
This sounds like a massive tax cut for basically everyone.
♦Bottom earners going down to zero
♦Middle earners going down to 5% (first 30 free, and second [email protected]%)
♦Top earners going from 53% down to 20%?

You’re talking about cutting the total Canadian income tax burden by more than 60%
Eliminating tax credits and your other 4 ideas don’t even put a dent in that.

#18 Dave on 11.10.18 at 2:50 pm

We need a Prime Minister that can build a pipeline and stops apologizing to every minority group for every little misgiving. The future of Canada is at stake, so lets take a selfie and smile….my god we need a change.

#19 Sideshow Rob on 11.10.18 at 2:54 pm

Liberal party long term prosperity plan:
1) Shovel money at Bombardier
2) Ignore the west
3) repeat step 1 and 2 until next election.

Their long term prosperity plan for Canada? Don’t be silly! What’s good for liberals is good for Canada!

#20 Evangeline on 11.10.18 at 2:58 pm

Ryan,

Imo that was an excellent article. Every day I hope a Canadian leader emerges who has a great vision for the nation. I believe your article is the first that I’ve seen dealing with that topic and offering solutions.

#21 Shawn Allen on 11.10.18 at 2:59 pm

Getting Oil to TideWater

Absolutely, it should be full-steam ahead with TransMountain. Declare it in the national interest and let’s go! There is no excuse not to start building the parts of the line that are far from Vancouver right now.

Anther idea has been presented. Polar Class oil carriers picking up oil near Churchill. Need a pipeline to Churchill. But meanwhile test the shipping end of the idea by sending oil by rail to Churchill (rail line just reopened) and do some test shipments with a polar class vessel. There was a time when things like that could have gotten done in weeks! Let’s go! Maybe the Alberta government could just do it sans permits and pay the fines.

#22 Shawn Allen on 11.10.18 at 3:03 pm

Actually, some things ARE real…

#15 crowdedelevatorfartz on 11.10.18 at 2:31 pm
@#9 Dylan
” my gramma just left me 125k ….”
+++++

I have a Nigerian Bank account you can put it in and turn it into $6,000,000.00 overnight………

****************************
Crowded here reminds me of the economist who walked right past a $100 bill laying on the sidewalk without even slowing down. He explained that if the money was real someone else would have already grabbed it.

The inheritance story here could be true and in any case the question about how to invest is valid either way.

#23 Not So New guy on 11.10.18 at 3:08 pm

I think JT’s slogan(though probably only heard in the liberal backrooms) is MTAGGA

Make Taxes and Government Great Again!

#24 Bobs ur uncle on 11.10.18 at 3:17 pm

Let’s think long-term, by cutting taxes for big business!! How predictably boring.

I hear corporate taxes are super low in Somalia – all the big companies must be rushing to invest there!

Or maybe that’s not the only thing that informs their decisions.

#25 The Real Mark on 11.10.18 at 3:19 pm

“3. Rents are rising everywhere , at least 30-40 % in the last 2 years alone, not sure where you see that deflation except in your dreams.”

That’s not the whole story Stan. Not at all. What you see in the major cities is that there has been a very large amount of brand new luxury condo supply delivered to market, and promptly dumped into the pool of rental properties. So like I talk about the sales mix with respect to resale housing, there has also been quite a dramatic change in the overall “rent mix” of rental properties on the market. An average and typical rental even a few years ago is quite different from an average rental today.

StatsCan, which goes to great lengths to ensure that the ‘quality’ of rental property is held constant for the purposes of computing CPI, could only find minimal inflation in rents in the major cities. And it is the onslaught of supply driven by high housing prices that has driven such relative stability in rents. Hence why there are no riots in the streets, nor a crisis of homelessness. Basically homelessness of mentally sound working people has been pretty much eliminated in Canada’s major cities due to the vast availability of rental stock at all price points.

#26 Ed on 11.10.18 at 3:23 pm

To Eastern Canada oil is something purchased from Saudi Arabia & Nigeria…what good would a pipeline do.

#27 Edward Bear on 11.10.18 at 3:23 pm

Yes Ryan, the guy who ordered the premeditated strangulation and dismembering and dissolving in acid of of a dissenting journalist is actually a progressive kind of chap; Hitler built great highways, Mussolini made the trains run on time and Pol Pot was a genius at population control. You spoiled your good intentions in the first paragraph. P.S the Trumpoid red dimwit lid is a guaranteed emetic for most Canadians. Donnez moi ça break!

#28 Evangeline on 11.10.18 at 3:23 pm

#12 crossbordershopper on 11.10.18 at 2:14 pm
“… Canada is a joke,…you cant even build a pipeline, ….”

The USA and Canada are BOTH challenged when it comes to building pipelines.

NOVEMBER 9, 2018 / 9:29 AM / UPDATED 6 HOURS AGO
U.S. judge halts Keystone XL oil pipeline in blow to Trump, Trudeau
Rod Nickel, David Gaffen

https://www.reuters.com/article/us-usa-pipeline-keystone/u-s-judge-halts-keystone-xl-pipeline-dealing-project-another-setback-idUSKCN1NE1QH?feedType=RSS&feedName=topNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FtopNews+%28News+%2F+US+%2F+Top+News%29

#29 Travelbug on 11.10.18 at 3:28 pm

I very seldom write on this blog, but this has got me going. I fully agree with AGuyInVancouver re corporate taxes. Just look at the huge corporate buy backs and profits. What does that do to the overall economy? I also agree with Ryan re better education for trades and jobs in new emerging industries. As a whole, the Canadian education system has gone downhill over the last 10-20 years due to financial cuts. The grade/level of our high school students, once on top, are now lagging behind of many of the European countries. The children and their education should be a top priority of our government since they represent the future!
Now let me address the oil issue. On one hand, our government pretends to be part of proponents to fight climate change by issuing carbon taxes while, on the other hand, it supports the oil industry by taking over pipelines! Where is the logic in this? As far as I know, our oil is exported to the U.S.A. at a discount because our oil is dirty and refining/processing it costs about 30% more than US oil. I am aware that we cannot completely remove ourselves from the oil business immediately, but we should at least try to wean ourselves off it by not building new pipelines and trying to export it to more countries but invest the money instead in alternative energies and by building refineries here so that we do not have to pump the oil south to buy it back at US determined prices.
And above all, our government should find new markets for all our manufactured products and resources (not oil and gas) and it should support our export industry to the fullest extent and in any way possible (trade agreements, tax cuts etc.) so that we not only become less dependent on the oil business but also on our southern neighbour.

#30 Millennial Realist on 11.10.18 at 3:33 pm

That’s an interesting fiscal graphic, the last one.

Notice how the economy hits the fan every time the boomer conservatives get into power?

Mulroney, Harper, both fiscal incompetents. Same thing on the provincial level when you look at provincial debt.

Putting conservative financial bozos into power is not something the next generation will repeat, thankfully. That’s where all of Canada’s financial woes have always been the worst.

#31 The Real Mark on 11.10.18 at 3:35 pm

Another great article, and dovetails nicely with my comments on yesterdays blog, that it is the GoC/OSFI/etc., that needs to implement policy tweaks, rather than the BoC using its blunt instrument of monetary policy (interest rates) to suppress excess housing prices (and hence, housing investment), and promote other sectors of the economy. Which certainly should include infrastructure both in the public and private sectors.

I do take a bit of an issue however with the allegation that corporate tax rates are meaningfully lower in the United States, and have fallen due to Trump’s alleged tax cuts.

Prior to the “tax reform” recently enacted, US corporate tax rates were already effectively much lower than the quoted rate. Due to the use of loopholes, and various other schemes. The ‘tax reform’ lowered the stated rate, but may very well have increased the average effective rate applicable to US corporations. Meaning that the effect of the cuts was exaggerated. The other elephant in the room is the high cost of the US healthcare system, which is heavily funded as a mandatory obligation of employers. The drag excessive healthcare costs place on US employers is enormous, and may very well amount to an additional 15-20% tax on their profits incrementally. Meaning that the Canadian rate of corporate tax, while higher on a stated basis, may very well still be lower than the effective rate in the United States.

Additionally, we all know how the US has funded its corporate tax cuts — through running higher deficits, and piling on an additional $1T per year of debt. Trudeau, in comparison, and believe it or not, looks extremely frugal in comparison by only piling on deficits of roughly 1/4th of that per capita in comparison. Not only may Canada’s corporate tax rates be very competitive with those in the US on an all-in basis including healthcare, but Canadian tax rates comparatively only leave government with minor deficits. Deficits and debt being effectively deferred taxation as eventually taxes (or inflation) must rise sufficiently to repay or reduce such debt.

#32 AK on 11.10.18 at 3:38 pm

“My question is this: What is our long-term vision for Canada and what policies and initiatives are we advancing to ensure our long-term prosperity?”
====================================
Nothing will happen in Canada until October 21, 2019…

#33 Sideshow Rob on 11.10.18 at 3:38 pm

I agree this was an amazing blog post. I believe the current leader of this country is a virtue signalling poser and a moron. I’m guessing he probably smiles at every mirror he passes too. Could you imagine if Canada had this current crop of idiots 100 years ago? There would be no cross Canada rail system or trans Canada highway. They say a country gets the leaders it deserves. If that’s the case then we have truly lost our way as a country.
Having said all that if True Doh! ever did show some sign of learning from the many mistakes of the past 3 years and started channeling Paul Martin, they would probably win the next election in a landslide.

#34 Ustabe on 11.10.18 at 3:38 pm

Any commendation of Trump makes anything else you say irrelevant. Shocking that people still don’t understand that.

Situational ethics. Goes hand in hand with situational morality. True conservatism is dead, replaced by this narcissists version.

You see even Canadians dipping into the pool, the lack of empathy, the divisiveness in posts, the joy in bully boy tactics, the manly swagger, can’t be a cuck posturing. Even on this blog, populated as it is by successful and intelligent folk.

Soon we will see the truth, indictments are coming, US constitutional crisis just over the horizon.

#35 crowdedelevatorfartz on 11.10.18 at 3:41 pm

@#22 Shawn of the Dead (great movie by the way)

Sorry if I offended thee.

Actually metaphorically speaking.

I’d be like an economist that would walk by the $125k in a sack laying on the sidewalk and ask total strangers what I should do with the money after I picked it up……

#36 palebird on 11.10.18 at 3:46 pm

We have a federal election coming up on the horizon and what do we have for platforms and leaders? Nothing. Pathetic.

#37 Almost A Boomer on 11.10.18 at 3:49 pm

Excellent article. I totally agree. Forward thinking people like you should be advising politicians at every government level and they should be listening. Most of them are not long term or critical thinkers and have no experience to develop and implement plans to ensure Canada’s success in the world of today and in the future. When there are no minimum qualifications a pampered, part time drama teacher, with the right surname. gets elected prime minister and is unable to achieve any thing worthwhile.

#38 Fish on 11.10.18 at 3:58 pm

Class action lawsuits target insurance companies over ‘unfair and illegal’ HST calculations
Facebook
Twitter

6 insurance companies deliberately shortchanged accident victims, lawyers say
CBC News · Posted: Nov 01, 2018 5:08 PM ET | Last Updated: November 1

https://www.cbc.ca/news/canada/toronto/hst-insurance-lawsuit-1.4887883

#39 KLNR on 11.10.18 at 4:02 pm

@#34 Ustabe on 11.10.18 at 3:38 pm
Any commendation of Trump makes anything else you say irrelevant. Shocking that people still don’t understand that.

Situational ethics. Goes hand in hand with situational morality. True conservatism is dead, replaced by this narcissists version.

You see even Canadians dipping into the pool, the lack of empathy, the divisiveness in posts, the joy in bully boy tactics, the manly swagger, can’t be a cuck posturing. Even on this blog, populated as it is by successful and intelligent folk.

Soon we will see the truth, indictments are coming, US constitutional crisis just over the horizon.
_________________________________
not sure I would use the comments section here (or any other blog) as a barometer for the sentiment of the nation.
just anonymous people pontificating/trolling.

#40 Uninpressed on 11.10.18 at 4:07 pm

I can’t disagree with you enough……

First, a country that never was great, nobody can’t make it great again. Never was then never can’t be again. Same applies for the old US, unless great was when they segregated and mistreated minorities and specially black people. it is accepted now that this is the hidden message of MAGA. Making America great again means for lots of folks getting a free pass to punch people of color or kill Jews.

Have you by accident notice that we hit a new low every week in terms of blatant lies, verbal abuse, divisiveness, more lies from the orange clown in chief?

The economy in the us is doing fine as a result of the inertia it had from the previous administration policies. Wait until it runs out of steam due to the bad and erratic policies from “grab the p*ssy” guy.

I think Garth, you need to go back to economics 101 and econometrics 211 to try to formulate a plan to help Canada and Canadians face the new realities.

How the heck you are going to pay for infrastructure and economic development reducing taxes for the most affluent? there is a minimum limit that higher earners and corporations should pay as part of the whole distribution of responsibilities among all economic actors. Have you realized that families and average employees in this country we are overtaxed, both from personal income as well as consumption taxes?

She a folk that makes the minimum pays 12% on a shirt or a pair of shoes, it is excesively l high compared when a rich person pays the same % tax,, relatively to their wealth and income. For a low income earner, even the tax can disincetivate him to complete the transaction.

If a country has a clear and long term strategy it just shouldn’t follow the erractic behaviour of the neighbors. Just reducing corporate taxes because orange clown did it doesn’t make any sense. Tax reduction in terms us was not done to keep the country competitive. It was done to picket more money into the already fat banking accounts of rich and greedy corporations and individuals, including the clown himself and his business. All this done to the peril of running huge deficits without any social or economic impact. Give it 3 or 4 more years and you will see the mess of this new Reaganomics.
If you are serious about thinking to make Canada great at least once we need to add to our agenda certain items:

1. Infrastructure can be financed via deficit as it is an investment into the future. If done correctly, it will pay by itself.
2. Real wages, pensions, benefits to all workers need to growth in real terms. How? force corporations to increase productivity via fiscal stimulus, no just unilateral tax reductions.
3. Make mandatory the full time employment. The big challenge for the next 3O years are underfunded pensions and people without proper pension. This, next to the environment risk, is the second largest liability going into the future.
4. Define taxation levels based on equal and proportional contributions of all economic actors. Tax levels and rates shoyobt

#41 Bottoms_Up on 11.10.18 at 4:17 pm

We may actually be thinking ahead with this small nuclear reactor program:

https://www.nrcan.gc.ca/energy/uranium-nuclear/21183

#42 mogulrider on 11.10.18 at 4:18 pm

Trudeau is over in France apologizing to the French for scuffing up their beaches in WW2

That is a 100 million dollar bill. Why didn’t he stay home and walk down the street in Ottawa?

That is climate taxes he’s spending….

#43 Leichendiener on 11.10.18 at 4:28 pm

Too many social justice warriors to get things done.

#44 Adam on 11.10.18 at 4:34 pm

“However, this all changed last December when President Trump and the Republicans passed historic tax reform cutting the corporate tax rate from 35% to a low 21%.”

I must say, I fail to see how joining a lunatics race to the bottom “growth at all costs policies” is beneficial. Look at the US national debt, do you really think the US corporate tax rate will stay at it’s current level very long?

“Well, the completely idiotic buffoon of a US president cut corporate tax rates and added trillions to the deficit in a time of unprecedented growth – we should do it too!”

Come freakin’ on

#45 Ustabe on 11.10.18 at 4:38 pm

And I totally agree you can dislike Trump or Trudeau for that matter and still believe they’ve done some good. – Ryan L

Wow. Unbelievable.

I would have thought, until today’s blog, that you would have a far more nuanced and intellectual world view.

#46 Infrastructure on 11.10.18 at 4:50 pm

Vancouver and Toronto are in desperate upgrades to their infrastructure but guess what, the money just isn’t there and the deficits already huge. The federal debt load is also immense considering the small size of our population and the massive size of our country.

Let’s face it. Canada is too big to survive on its own. The US has less square miles and 10 times the population and a much much larger tax base, not even considering the advantage of their currency which has reserve status. What does Canada have in order to match this? And yet, the metropolitan areas of Vancouver and Toronto are growing and growing but still never enough of a tax base to generate the funds to pay for necessary upgrades and overdue expansions.

What’s the solution? Maybe approach domestic and international corporations to take over this part of the country? It could be feasible in some areas but not in all areas. Eventually Canada’s only chance of survival will be the surrender of some sovereignty and accept that the United States could run this country better.

Gulp! Did I just say that? Yes, I did. Countries are run like corporations anyway. The economy is global and corporate mergers and take overs are happening all the time.

Otherwise get used to more congestion, more potholes, fewer hospital beds per capita and so on.

Enjoy the long weekend, y’all. (I’m already practicing my twirl).

#47 Slim on 11.10.18 at 5:05 pm

Just like the budget balancing itself, Canada will become great.

#48 Alberta Ed on 11.10.18 at 5:06 pm

Superb analysis, but as long as the WWF has Justin in its pocket, the Beavis & Buttshead show will continue. Other badly needed changes are removal of existing trade barriers between provinces and alignment of provincial transportation regulations that hinder efficient movement of goods.

#49 Long-Time Lurker on 11.10.18 at 5:09 pm

#94 DON on 11.10.18 at 12:15 am
#71 Keith on 11.09.18 at 8:51 pm
Apparently the debate will never be resolved:

https://www.straight.com/news/1162801/josh-gordon-vancouverites-dont-need-re-education-about-foreign-ownership-and-housing?fbclid=IwAR0Z7hAizHsHNt0YbNGLchKDZpydosjmZCp9GkbK8JkrB0fcORd8dh222gA
***************

If you don’t like proper analysis don’t read this. You will be confronted with ‘omitted variable bias’ and realize how many debates/arguments are riddled with ‘omitted variable bias’. The holy grail of disingenuous politicians, media and vested interests.

Dolce: you may find this interesting.

Josh Gordon: Vancouverites don’t need “re-education” about foreign ownership and housing affordability
By Josh Gordon
November 9th, 2018 at 4:25 PM

Foreign money has played a central role in Metro Vancouver’s housing crisis. This is the view of the vast majority of Metro Vancouverites. In poll after poll, year after year, a strong majority of Metro Vancouverites have deemed “foreign buyers or investors” to be either the most important factor, or among the most important factors in the crisis.

>Hmm. Who shall we blame for this “crisis”. Let’s see…

-Who sold to foreigners? (Hint: Local owners.)
-Who didn’t restrict foreign ownership? (Hint: Local voters.)
-Who caused this problem? (Hint: Local residents.)
-How? (Hint: The local residents voted for the policies and sold their properties to foreigners.)
-Who’s complaining about it now? (Hint: People who weren’t local residents who couldn’t vote against it or local residents who didn’t vote against it who should have little cause to complain. For the young, your parents are responsible.)
-Who are you blaming for this problem? (Hint: Foreigners.)
-Who’s responsible for this “crisis” then? (Hint: The locals mentioned above.)
-Who has a right to complain about this crisis? (Hint: Locals.)
-Who are locals then? (Hint: People who live here.)
-Who are foreigners then? (Hint: People who don’t live here.)
-Who is complaining about the crisis then? (Hint: People who didn’t live here because they didn’t vote against it. They didn’t vote against it because they didn’t live here.)
-Who are these people who didn’t live here then? (Hint: Foreigners.)

The irony.

#50 Cody on 11.10.18 at 5:09 pm

Great points.

Get off the Devil’s Lettuce and get the Goddamn pipeline built JT!

Lewenza for PM!

#51 For those about to flop... on 11.10.18 at 5:36 pm

Pink Pumpkins being carved in Vancouver.

Condo edition.

Featured these guys once before when they did the unthinkable and listed their condo at below purchase price.

Well, the latest is, that didn’t appear to work and they’ve decided to take it a step further.

The details…

407 – 1275 Hamilton Street,Vancouver.

Paid 805k December 2017

Originally asking 780k

Now asking 759k

So we’ve got a few condos on the market at below purchase price but compared to detached properties it is more of a cooling and plateauing than a correction in the condo segment at this stage, from what I have seen.

We will follow these guys and see what happens,could be the leading edge with most of the ones taking losses over the million mark downtown.

In places like Richmond and Burnaby you can find people taking hits at lower price points.

This one is assessed at 734k and will probably be the lowest one in the downtown area I have seen possibly taking a hit.

There appears to be a cooling draft flowing up the Georgia viaduct…

M44BC

https://www.zolo.ca/vancouver-real-estate/1275-hamilton-street/407

Also I have seen some action on the Terry Fox link,if you make a donation even if it is small, alert me and I will ring the bell on your behalf.

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

Feel free to make a donation.

Flop For Fox Fund…

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

#52 AK on 11.10.18 at 5:41 pm

#34 Ustabe on 11.10.18 at 3:38 pm
“Any commendation of Trump makes anything else you say irrelevant. Shocking that people still don’t understand that.
Situational ethics. Goes hand in hand with situational morality. True conservatism is dead, replaced by this narcissists version.
You see even Canadians dipping into the pool, the lack of empathy, the divisiveness in posts, the joy in bully boy tactics, the manly swagger, can’t be a cuck posturing. Even on this blog, populated as it is by successful and intelligent folk.
Soon we will see the truth, indictments are coming, US constitutional crisis just over the horizon.”
====================================
You are watching too much CNN and MSNBC.

#53 Stan Brooks on 11.10.18 at 5:41 pm

Let’s get things straight first.

1. The statement:

Canada has one of the lowest Federal government debt-to-GDP ratios in the world.
>
is absolutely misleading.

Other countries do not have the provincial debts that we enjoy. Their federal debt = government debt.

Stop promoting the federal debt as the only government debt for Canada.

Canada has public debt of 90 % of GDP when we count provincial debts:
https://tradingeconomics.com/canada/government-debt-to-gdp

and that is NOT a pretty picture.

Private debt of 266.61 of GDP:
https://tradingeconomics.com/canada/private-debt-to-gdp

Nobody in their right mind will lend us a dime at these interest rates and debt levels. I am sure the CPP fund will keep buying these scheisse bonds but hey, that is your pension fund, not the international investors.

There goes the option of extended deficit spending.
If we deficit spend by printing money… then loonie is doomed.

2. No investors in their right mind will put a gram of trust in the words of this government. Wild Bill screwed small businesses big time, NOW they are looking for entrepreneurs to boost a consumption based economy.
Good luck in that.

3. Any suggestion that we are capable of any advanced technology break through in AI is BS.

Software engineers in GTA/Vancouver earn 30 % net (in USD) from what their counterparts in AI earn in the states with much higher cost of living here.

Plus in US they are covered for much better health care by their companies when compared to what we enjoy here, at least in Ontario.

Our economy is oligopoly/extraction/profit/slave labour based, something that is left from the British empire in terms of mentality, there is no way in hell to change that thinking.
We are focused on crushing the small guy and leave him shirtless rather than to pay to the capable in order to foster innovation, “strategic thinking” is an oxymoron here.

4. Traffic problems in GTA can not be fixed. Period.
Subway system and public transports sucks.

5. We will see when west coast pipeline will be extended but don’t hold your breath. That is in the capable hands of daddy’s boy, french villa guy who is much more interested in stealing your pensions and killing small businesses.
And Keystone is apparently blocked in the states.

To put it bluntly: It is toooooooooo late at this stage to promote more wishful thinking and political correctness, we need to swallow the pill first and deleverage which at this point will be very painful and prolonged. We ate the pie and all future generation pies. Now the bankers want their money back.

#54 Ryan Lewenza on 11.10.18 at 5:49 pm

Sammy “Garth has on more than one occasion talked about a withdrawal rate of 7% , is this practical for a retirement portfolio? (I may have taken this out of context?) I am familiar with the Trinity Study, and 7% is off the charts.”

We still believe a balanced portfolio can return 6-7% over the long run. For a withdrawal rate we generally recommend 4-5% but 7% is possible if you have other assets. – Ryan L

#55 Stan Brooks on 11.10.18 at 5:55 pm


#6 SoggyShorts on 11.10.18 at 1:49 pm
#123 Stan Brooks on 11.10.18 at 11:42 am
#110 The Real Mark on 11.10.18 at 9:15 am

3. Rents are rising everywhere , at least 30-40 % in the last 2 years alone, not sure where you see that deflation except in your dreams.
******************************
No Stan. Did you forget that the GTA is smaller than Canada again? “Everywhere” is just Toronto then?
There is a lot of talk about bubbles on this blog, but one you (specifically you Stan) need to be more aware of is the one your head is in.
Try talking to people outside of OT and BC. No one had a rent increase of 40% the last 2 years.

Stop making things up.
Loose the ignorance. Stop lying.

Rental Rates Soar By Double Digits In Half Of Canada’s Largest Cities

https://www.huffingtonpost.ca/2018/05/16/rental-rates-canada-april-2018_a_23436309/

https://windsorstar.com/news/local-news/housing-crisis-looming-as-rents-continue-rising-in-windsor

https://www.huffingtonpost.ca/2018/04/10/affordable-housing-crisis-canada_a_23407878/

https://www.cantechletter.com/2017/08/sky-high-rents-low-pay-makes-canada-dud-tech-workers-report/

#56 Stan Brooks on 11.10.18 at 6:06 pm

Our external debt:

https://tradingeconomics.com/canada/external-debt

from 800 billions in 2006-2007 to 2.5 trillions today.

#57 BobC on 11.10.18 at 6:07 pm

#40 unimpressed

You need to get past the bumper stickers and CNN headlines. Dig a little.

#58 Remembrancer on 11.10.18 at 6:12 pm

#12 crossbordershopper on 11.10.18 at 2:14 pm

Keystone XL, now on your bike mate and pedal off…*

(*its Canada so of course you’re welcome back if you have something interesting to contribute)

#59 espressobob on 11.10.18 at 6:18 pm

Diversification globally by market capitalizion has proven to be a big winner for investors. Canada is a small player in the greater scheme of things.

Too much emphasis on any asset class involves more risk. The TSX composite has proven that.

#60 Mapleridgeguy on 11.10.18 at 6:19 pm

Hey Ryan. What’s your take on the veto clause the Americans stuck into our FTA that requires we get their’s and Mexico’s agreement on any FTA agreements we negotiate with other countries. I’m thinking in particular about finding new customers for our oil.

#61 Remembrancer on 11.10.18 at 6:20 pm

#6 SoggyShorts on 11.10.18 at 1:49 pm
#123 Stan Brooks on 11.10.18 at 11:42 am
#110 The Real Mark on 11.10.18 at 9:15 am

40%! This is BIG. Got any links to Landlord / Tenant Board rulings in ON detailing these wide spread increases maybe? Any news outlet links? Copies of year-over-year lease comparisons?

#62 For those about to flop... on 11.10.18 at 6:23 pm

Pink Pumpkins being carved in Coquitlam.

This detached in Coquitlam was picked up for 1.28 in March 2017 and put back on the
market not long after.

Originally, I don’t think they did much to it,but after failing to cash back out I remember it looking a little different and mentions renovations and so they are probably already sunk,as the new ask is 1.38.

WordPress is never gonna give a blue collar bum like myself with sausage fingers blogger of the month, but I will try to rustle up the before and after photos.

Beach Boys wrote a song about this one.

Help me Rondeau.

Get her outta my heart…

M44BC

https://m.youtube.com/watch?v=4Te_lCF69Aw

819 RONDEAU ST COQUITLAM. Paid 1.28 March 2017

Now asking 1.38

https://www.zolo.ca/coquitlam-real-estate/819-rondeau-street

https://www.bcassessment.ca/Property/Info/QTAwMDAzWE5WTg==

#63 Ryan on 11.10.18 at 6:24 pm

Wow. Was this written by a 19 year old?

#64 Barb on 11.10.18 at 6:25 pm

Dreaming…if you believe T2 will copy any of Paul Martin’s good ideas.

He’d have to understand them first…

#65 FOUR FINGERS WATSON on 11.10.18 at 6:25 pm

How long China will be able to avoid a sharp price decline remains to be seen, but in the meantime another problem faces China’s housing market: in addition to being the primary source of household net worth – and therefore stable and growing consumption – it has also been a key driver behind China’s economic growth, with infrastructure spending and capital investment long among the biggest components of the country’s goalseeked GDP. One result has been China’s infamous ghost cities, built only for the sake of Keynesian spending to hit a predetermined GDP number that would make Beijing happy.
Meanwhile, in the process of reflating the latest housing bubble, another dire byproduct of this artificial housing “market” has emerged: tens of millions of apartments and houses standing empty across the country.
According to Bloomberg, soon-to-be-published research will show that roughly 22% of China’s urban housing stock is unoccupied, according to Professor Gan Li, who runs the main nationwide study. That amounts to more than 50 million empty homes.

#66 Remembrancer on 11.10.18 at 6:26 pm

#47 Infrastructure on 11.10.18 at 4:50 pm

Have you spent any time on the ground in the US? Not talking about flying to LV or Orlando, actually driving on / off the interstate highways in multiple states / regions? MI for example can’t even afford to clean the dead rubber off the shoulders on a regular basis…

#67 Eco Capitalist on 11.10.18 at 6:42 pm

While I disagree on the Corporate Tax Rate, I do agree on the depreciation; if we want corporations to invest in plant and equipment in Canada, we should incentivize it.

We also need to fix inter-provincial trade barriers and transportation issues; this is low hanging fruit.

Foreign credentials need to be recognized; we’ve imported a decent size, talented labour force and then driven them all into pointless jobs because of squabbling by various professional associations over what their credentials are really worth. This is also true for province to province movement of professionals; heck even in your own profession I believe you can’t give financial advice to people who don’t reside in Ontario because of jursdictional issues!

#68 crowdedelevatorfartz on 11.10.18 at 6:48 pm

@#30 Millenial Surrealist
“Putting conservative financial bozos into power is not something the next generation will repeat….
+++++

Have you looked at the deficit budgets since T2 has assumed control of the purse strings??????

#69 Johnny D on 11.10.18 at 7:04 pm

Weed, weed and more weed. Apparently that’s Canada’s future. Forget the environmental cost of large scale grow ops, the cost to healthcare when carcinogenic smoking takes its toll and increased policing costs. People NEED to get high.

We can trash our energy industry. Who needs transportation, heat, or products derived from petroleum.

#70 BC_Doc on 11.10.18 at 7:08 pm

Re— TMP: “As I’ve said before, this is a layup and we can’t seem to even get this critical project off the ground.”

Not a layup/no-brainer for those folks living in coastal BC. Some of us remember the Exxon Valdez and don’t exactly relish the thought of a tanker wrecked and leaking in our beautiful waters with oil covering our pristine coasts and gorgeous Gulf Islands. Send a pipeline east first, preferably through Trudeau’s Montreal riding.

#71 New Pipeline on 11.10.18 at 7:17 pm

Ryan kindly educate us more with well defined details, why this twin pipeline was a good deal to buy, in order to move oil from the Oil Sands project into the Asian markets.

#72 viorelli on 11.10.18 at 7:19 pm

The ship has sailed a while ago….. But there is still a way to save BC?!
1. More tax on everything, weed, prostitutes, gambling
2. More casinos, and free incentives for sharks from all over the world to come here and gamble
3. Raise the table limits (no limit baccarat)
4. Increase fees for ICBC, Hydro, Terasen, MSP, and everything else.
5. Bring in more of the world financial elite, sell them more condos and increase the property tax
6. Seriously think about legalizing all hard drugs and tax, tax, tax
8. More land assembly and rezoning, level the Seymor mountain, skiers can go to Whistler,

#73 TurnerNation on 11.10.18 at 7:21 pm

I’m triggered .
C’mon today’s Snowflake Generation hardly cares about today’s topic.
I saw a fresh prepared food labelled: Contains Allergens: Soy, Gluten, Eggs, Nuts.

Hellooo….these aren’t allergens they are FOOD. You know the stuff which keep you alive. (Wait till they discover that the bugs they will be eating indeed are meat.)

#74 reynolds531 on 11.10.18 at 7:32 pm

Any comments on the national post story about CPP expanding its China footprint?

#75 westsider on 11.10.18 at 7:38 pm

I am always suspicious of people with “Grand Vision”. The Grand Vision may be exciting, but it’s the details that’ll kill ya’. Like China’s human rights record and a few million muslims in camps. Often Grand Visions rarely have transparency or oversight as that slows things down. You often find that “Grand Visions” require someone to lose. I like a vision with social conscience, fewer people end up on the bottom of the pile. Trump’s Vision is just get the money!!!!Not sure this will all end !!!

#76 Rent increases in vancouver on 11.10.18 at 7:51 pm

@#6 and 62

This just happened in B.C. The landlord increased the rent by 31%. I was renting a basement suite. Received the notice to end tenancy papers late spring 2018 with move out date at end of lease in june. Landlord said he was moving into the basement suite and going to rent out his space upstairs. I found the basement suite advertised only 1 month and three weeks later on Craigslist at an increased amount of 31%. Have filed an application to the landlord/tenancy agency but basically they reimburse you only a couple of months rent if you win the judgement. The landlord is now renting the suite at a 31% increase. Some rent controls!

#77 For those about to flop... on 11.10.18 at 7:58 pm

I’m gonna lose my mind for2 minutes and write something on topic for once.

Can someone explain to me if it’s that big a deal and that much money is going to be spent,why they can’t route a pipeline to Tsawwassen instead.

I get that Kinder Morgan has their set up in Burnaby and the Gulf Islands would still be at risk but it would take damaging Burrard Inlet out of the equation to a certain extent.

Surely some infrastructure down that way would be of some use if they are not going to farm the land and build strip malls there instead.

Tell the other guys to build something at Point Roberts and we’ll give them door to door service.

No need for tankers…tell ’em ,we’ll be back in a couple of weeks to pick it up what we need,cheerio.

Anyway,I’ll go and sit back down at the kiddies table and carve some more pink pumpkins…

M44BC

#78 FOUR FINGERS WATSON on 11.10.18 at 8:01 pm

#49 Alberta Ed on 11.10.18 at 5:06 pm
Superb analysis, but as long as the WWF has Justin in its pocket, the Beavis & Buttshead show will continue. Other badly needed changes are removal of existing trade barriers between provinces and alignment of provincial transportation regulations that hinder efficient movement of goods.
………………………….

The only reason he is allowed in the WWF is cuz Vince Mc Mahon wants to see the Little Turd get body slammed and choked out by Rowdy Ronda Rousey.

#79 Fish on 11.10.18 at 8:03 pm

Canadians projected to live longer, but can they afford it?
The bottom line on a greater life expectancy is bigger nest eggs, delayed retirement
CBC News · Posted: Feb 23, 2017 4:00 PM ET | Last Updated: February 24, 2017

https://www.cbc.ca/news/canada/life-expectancy-cost-1.3995606

#80 Cristian on 11.10.18 at 8:08 pm

“What is our long-term vision for Canada and what policies and initiatives are we advancing to ensure our long-term prosperity? Where are our leaders who need to think big and ensure we’re not left behind in this rapidly changing global economy?”

Nowhere. That’s because these types of long-term projects can mainly (if not only) be accomplished in countries with autocratic political regimes which are not exposed to change every few years.
The Western-type democracy leads to short-term projects only, since the leaders are mainly concerned with their political survival on the short run and thus unable or unwilling to embark on any long-term or visionary project (what would be the point anyway since they’re not sure if they will still be in power 4 years later?)

#81 Robert Ash on 11.10.18 at 8:16 pm

I like Ryan’s kind of Thinking…. The slow but steady transition to EV vehicles, will slow the Climate Change metrix… significantly..worldwide. Meanwhile Canada should be buliding Tankers, to earn and command the Energy World Sector Dominance, and all the Financial Resources that generates. We should be instructing the World, how to Engergize ethically, and also Build Bulk Tankers to transprot our Products, to best of Industry. There should be a reasonable portion of the Energy Resouces redirected for actual realistic long term investment in Renewables.
Energy Dominance also means, significant Geopolitical Power… real power to do good, in the World.. JT and Butts, missed that one… aholes..
Canada should become a Western and Eastern Alliance Nation… too big to govern all… effectively…
Likely the Biggest Problem could be our Canadian Constitution, that is fommenting and encouraging NIMBY types of selfish posturing… Hey Twining a Pipeline into the Vancouver Harbour was stupid… OK to repair replace… but the Main Port of Transport should be a Northern Community… Helps the One City Nonsense Vancouver/Victoria have become.
We start to Elect only Business Graduates, or Actual Business people. Social concerns, are very important, but no money no Social concerns, are effectively addressed.
Where is the Vision. We had Leaders in the Past who could envision, a National Canal System, to enhance our Country. A National Railway, and Highway systems, often funded by Industry. A National Identity.
Canada needs less Government, and more Trade Specific, Industry lead focus… Canada has a relatively small basket of Products to Feed our Economy.. Much better to reduce Government involevment to a Participatory Role, not a Leadership contol role. How many Politicians, today understand, we only have Agriculture, Fishing, Energy, Forrest Products, Light Manufacturing, Mining, to effectively feed our Economy. Lots of other Good Ideas, and Directions, and we need the Continued Development of these, but an economy is not about Selling Houses to each other or Financial Services and the Big Injection mechanisms… and Canadians, have lost this focus.. Many new Citzens, and younger folks, haven’t this sentiment, and it is a big problem.. Education to focus on Trade Skills, improvements.. meanwhile we have this type of Politician… Horgan, and the Weary Fellow, and the others who are destroying our basic Economy for some idealisitic nonsense, that frankly is all defeatist… We put people on the Moon, and Move at Jet speed… why aren’t we in Canada… Poor Leaders, and we voters are too blame, … Imagine supporting a young man, with no skills, or experience… almost all new Commerce Grads, have more functioning skills, and common sense.. so yes that is a problem… but the Canadian Constitution, may be the issue as well..
Why are no Politico’s offering Refendedums, using the Ubiquitous Home PC… can track you around the world, but never get those stupid Citizens, involved… Garth mentioned it in one BLOG.. makes my Blood Boil… I offer these opinions, but the focus is clearly on what these current elected folks, understand.. Parades, Misdeads, Other Soft issues, that a child could discuss, as they are often on Social Media… Any issues but the hard ones… and being Indecisive in a Speed addled Global enviroment, is not helping.. We have to make some changes.. The Busline won’t even run any longer in Western Canada… what.. is that true.. Renewables, Green Energy, Public Transport.. Failure folks.. Greyhound is leaving Canada,.. Post office will be closing next.. but no worries folks, we have your backs.. Ha, Ha, Ha..

#82 When Will They Raise Rates? on 11.10.18 at 8:17 pm

Great post today.

Unfortunately, none of your excellent ideas will see the light of day while Trudeau is in power… He, like his father before him, is beholden to the UN/Marxist/globalist agenda. His entire idea of “growth” for Canada is this:

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

We need to vote him out next year, then maybe, just maybe, we have a chance to grow our economy and increase Canadian prosperity. Until such time as the corrupt Liberals are ousted, this entire conversation is moot.

#83 FOUR FINGERS WATSON on 11.10.18 at 8:32 pm

#75 reynolds531 on 11.10.18 at 7:32 pm
Any comments on the national post story about CPP expanding its China footprint?
……………………………………

Might be a good move if u don’t mind being paid in ham.

Instead of receiving cash, holders of local-currency bonds issued by Zhengzhou-based pork producer Chuying Agro-Pastoral Group Co will be paid with the company’s ham, thanks to an agreement reached between the company and its creditors. Assuming the agreement, which was revealed in a security filing on the Shenzen Stock Exchange, holds, the “in kind” payments will only apply to the interest on the bonds, according to the South China Morning Post.

https://www.straitstimes.com/business/companies-markets/china-company-pays-its-bondholders-in-ham-instead-of-cash

#84 Doc on 11.10.18 at 8:43 pm

Brave of you Ryan to note Trump is doing some good. Change does not come from order but arises out of chaos. Trump is a Heyoka (Lakota term) for a contrary powerful change agent. He is unconscious of this for the most part but observing how he brings out the negative in so many proves the point. The Heyoka causes many to be triggered. Examine the feelings he triggers in the politically correct. This is projection. Own it and learn from it.

#85 Ace Goodheart on 11.10.18 at 8:43 pm

So up at the cottage this weekend. Snow everywhere. Wanted to fire up the old ’56 International 300 series that has been sitting in the bushes all summer, waiting for winter.

Put the key in, pulled the choke, pushed the clutch down and turned. Nothing. “whup, birrrrr, whup”. 6 volt battery is dead. I guess I should have expected that. It sat since March with no one using it. It is only used as a snowplough in the winter. We weren’t up in March.

So what do I do? Well I guess, using my 2018 brain, I would just assume that all is lost, I can’t get in, the driveway will remain impassible, and I will have to find somewhere else to stay for the night, plug the old ‘300 into the trickle charger and come back in the morning and try again. Maybe she’ll start.

But wait. This is not 2018. This is 1956. An electric starter is an extra cost option. A gimmick. Something that rich folks ordered for the help. No one ever used them.

The International’s point based spark system is driven by a magneto. The only thing the battery runs is the starter and the lights.

So what to do? This is easy. I got out the old hand crank, put it in the notch in the crank shaft at the front, pulled the choke, set the ignition in run, and pulled with all my might. After three tries she fired up, blew a bit of smoke and then settled into a nice idle. I let her warm for about 10 minutes, and then set her to work. Ploughed the entire drive in under an hour, and got the car in no problem.

Ahhhh, 1956. You save me every time……..

#86 Johnny D on 11.10.18 at 8:52 pm

#72 New Pipeline on 11.10.18 at 7:17 pm
Ryan kindly educate us more with well defined details, why this twin pipeline was a good deal to buy, in order to move oil from the Oil Sands project into the Asian markets.
—————————-
Allow me to try. Oil is a product that everyone uses whether they acknowledge it or not. Markets in Asia want it and by golly we have it. Commerce is the exchange of currency for a product or service. Income in Canada generated through commerce is taxed and these tax revenues help fund many of the services we all use. That should hopefully make things a bit clearer.

P.S. The Oil Sands “project” is as much of a project in Alberta as coffee shops are a “project” in Toronto… That is, it is a very large industry with countless projects and all the offshoot economic activity that comes from that. The scale is only appreciated if you’re aware I guess.

#87 DLT on 11.10.18 at 8:56 pm

If one wants to look at the big picture he doesn’t confuse the draw down of one’s principal with the creation of wealth. Our nonrenewable resources( read oil,gas) originally belong to all of us. Providing a few of us with jobs and small royalties which are paid for by the proceeds from the sale of our resources ignores the real important question which is : what percentage do WE get of the total proceeds from the sale of our resources. Norway has well over a trillion dollars in their heritage fund. How much do we have?
If we really want to think long term we would concentrate our efforts in developing renewable resources and maximize our proceeds from the sale of nonrenewable resources and invest them in those. As things now stand I fully expect that the liberals will eventually spin off the transmountain pipeline for a fire sale price and if there ever is a large oil spill, we the taxpayers will be left paying for most of the cleanup costs as there is a 1 billion dollar limit to private corporation liability. Isn’t capitalism as presently practiced wonderful? Most self described free enterprisers have no idea what real capitalism is. Along with the potential benefits of such a system should come a responsibility to fully accept the consequences when things go bad and not expect someone else to pay the costs.

#88 alsak on 11.10.18 at 8:58 pm

long term vision in Canada

make houses out of reach for masses
lie about inflation….
no wage growth at all
service economy ie real estate
no good politician on horizon to make Canada great

#89 Dominion Minion on 11.10.18 at 9:06 pm

Canada’s problem is monarchism.

#90 acdel on 11.10.18 at 9:11 pm

Ryan, excellent post!

My take on this is that Canada is no longer a country. It is 13 individual provinces and territories only in it for itself ran by or controlled by special interest groups.

Politicians looking for there next vote and media looking for there next story. Reporters are no longer reporters, all they spew nowadays are their own opinions. Long gone (with a few exceptions) are the true reporters that use to investigate or report on what was actually happening out there. I have my differences with Trumps ideals but I do agree with his “Fake News” statements.

For example just today he mentioned that WW1 was “ONE” of the deadliest periods of mankind and right away the fake news industry claimed the guy said that WW1 was the deadliest; it just goes on and on.

We no longer attract leaders. The last one that I saw was Peter Lougheed!

#91 Keith on 11.10.18 at 9:24 pm

In B.C. the Liberal provincial government tried to address the competitiveness issue with low taxes. They cut the provincial corporate tax rate to the lowest in Canada. No banks moved from Toronto to Vancouver to take advantage. No oil companies from Calgary moved either.

It’s annoying to listen to the right wing simple minded economics. “Lower taxes, it solves everything.” It’s the biggest policy failure ever. Growth doesn’t increase near enough for the loss in revenues, and the job and business bonanza fails to materialize. You have to pick the winners, otherwise you’re financing executive bonuses and stock options.

Left wing critique says that a dollar of tax cuts gives you thirty seven cents of economic activity, a dollar of welfare gives you a buck twenty five. If reality is anywhere near the ballpark, tax cuts across the board are highly inefficient.

Time for accountability. Choose the industries that need capital, are poised for growth and labour intensive to boot. Something that provides a return on taxpayer investment. Create a Dragon’s Den council of real business people, pick the winners and give them free taxpayer money, accelerated depreciation or whatever it takes, with review and accountability for the money invested. Keep the regular corporate rate for the mature businesses that aren’t the fast growers.

#92 Working in Energy Industry in Alberta on 11.10.18 at 9:34 pm

Thanks for this excellent feature on infrastructure Ryan, and thanks Garth for your previous advice to our governments on real estate market dynamics. I sincerely hope our prime minister and finance minister are asking you for dinner monthly, accepting your consulting invoice, and telling you: “We are here to listen.”

The tax differentials between Canada and the US and between Canada and our Asian competitors is a huge part of our competitiveness problem.

I am working on a substantial energy project in Alberta now, and am having difficulty in convincing suppliers and the client that it makes sense to fabricate structural steel here in Alberta. We have huge capacity and substantial unemployment, yet even with costly transportation from Asia, structural steel fabrication is being sourced in across the ocean. This is not rocket science. Structural steel work is bread and butter, vital basic industrial capacity that is sitting idle.

Another current example is that a major supplier has the option to manufacture large equipment in their Quebec plant or their plant stateside. They will fabricate in the eastern US primarily because the transportation is much more economical to the Alberta site. This is due to shortcomings of our Canadian transportation infrastructure. They also site taxes as favouring US manufacture.

It is sad really. The oil, gas and power companies as well as our government should understand the need to invest in local capacity and the value in keeping people working in industry in Canada. Perhaps the industrial customers understand, but our lack of competitiveness, at least 40% of our cost base being tax, is pushing them stateside and offshore.

Again, our government “leaders” need to learn and need inputs from those living the issues.

Justin: If you are reading this, please ask Garth and Ryan for dinner….and listen …..

#93 PeterfromCalgary on 11.10.18 at 9:47 pm

Great article! These recommendations would help our economy if implemented as they are based on sound economics.

Unfortunately, as long as we have a trust fund baby Prime Minister who would rather virtue signal than worry about things like the economy none if is going to happen.

#94 Long-Time Lurker on 11.10.18 at 9:50 pm

#92 Keith on 11.10.18 at 9:24 pm

Time for accountability. Choose the industries that need capital, are poised for growth and labour intensive to boot. Something that provides a return on taxpayer investment. Create a Dragon’s Den council of real business people, pick the winners and give them free taxpayer money, accelerated depreciation or whatever it takes, with review and accountability for the money invested. Keep the regular corporate rate for the mature businesses that aren’t the fast growers.

>That’s called a chaebol in Korean.

https://en.m.wikipedia.org/wiki/Chaebol

#78, Flop.

NIMBY.

#95 waiting on the westcoast on 11.10.18 at 10:01 pm

#93 Working in Energy Industry in Alberta says… “Justin: If you are reading this, please ask Garth and Ryan for dinner….and listen …..”

+1

Not sure what happened since Martin helped steward the economy but the liberals are living in a land far far away from the realities of global competition.

And for those of you advocating for protectionism, it’s better to keep improving by facing international forces than becoming progressively more lazy with tariff subsidization. We need to up our game.

#96 Doug in London on 11.10.18 at 10:05 pm

The idea of reducing our corporate tax rate, as has been done in the United States has its merits, but it comes with a price. It has caused the deficits run by the U.S. government to increase greatly, adding even more debt. During boom times like now governments should be running surpluses, paying down debt, and ultimately getting ready for the next recession. Do we really want to follow the American example, when we should be getting our deficits and debts under control?

#97 WUL on 11.10.18 at 10:14 pm

As the Flames and LA Kings game gets underway, I cannot help but remember the quip of Jack Kent Cooke who bought the Kings about 40 years ago. I think Cooke was Canadian and made big $$$ in the insurance biz. He was lamenting the small attendance at Kings games. He said (along the lines of) “250,000 Canadians live in the LA region. Now I know why. They live here because they hate hockey.”

#98 rc99ar on 11.10.18 at 10:19 pm

Great article, like Ryan tapped my thoughts. I will add making energy security a matter of national security would accomplish even more. Heavy crude carriers in expanded ports for the Navy, environmental disaster response teams, and replace 120k/yr power plant government security guards with 65k/yr military police. Add a pipeline East and call most of it defense spending. This gets us back to NATO spending requirements, gooses gdp by more than the input cost, and we supply our allies with energy instead of the Arabs and Russians doing it.

#99 Smoking Man on 11.10.18 at 10:29 pm

When Canadians finally wake up and figure out that the goal of the globalists and their stupid agents,(the progreesivess) is to completely wipe out capitalism our culture and way of life.

There will be hell to pay.

Ask yourself.
Why is govt looking at our banking info?

Why are they pushing a carbon tax when such a large percentage of the population just skimming by?

Why are they going to increase migration by the millions when we have a housing shortage?

MAD Max will split the vote and T2 will get 4 more years and will turn Canada into Venezuela 100%

When Turner investments opens an office in the USA. Sign me up. Money is no longer safe in Canada.

#100 Wally Wingnut on 11.10.18 at 10:33 pm

Why is no one proposing refineries in Canada which would provide energy security. Reduce dependence on foreign refined products such gasoline and diesel fuel. Instead the useful idiot Justin just spent 4.5 billion dollars to buy a right of way for a pipeline to Burnaby. Cost does not include building the the new pipeline. Why the rush to build new pipelines to China when we need the refined products here in Canada. It’s pretty sad that the Alberta oil industry imports diesel fuel from the USA. We should become self sufficient in energy products and then ship excess oil production overseas.That would be a good start to Canada great again.

#101 Fish on 11.10.18 at 10:33 pm

Just the Facts
Changes in new home prices, Canada and select census metropolitan areas
Release date: October 31, 2018

https://www150.statcan.gc.ca/n1/pub/89-28-0001/2018001/article/00008-eng.htm?HPA=1

#102 akashic record on 11.10.18 at 10:43 pm

When Trump announced running for the office, everybody laughed at him. Including me, not that it matters a bit. He won against all the laughs, even those that matter the whole world, wearing a hat that everybody thought was a cheesy gimmick.

Two years later: what we should do to “Make Canada Great Again”.

Isn’t life funny?

Such fun can never happen in Canada, where every candidate has to be vetted and approved by the parties, who don’t ever ask: what should we do to Make Canada Great Again. It would be too nationalist, populist, non-inclusive, whatever, even to think about it.

Canada by the way does seem to have a “long-term vision, policies and initiatives, that we are advancing”.

It is seeking the world’s best equality, inclusivity and social justice. How to Make The World Great Finally.

We just have to wait and see how those nice ideals balance themselves to “ensure Canada’s long-term prosperity” on the side.

#103 Evangeline on 11.10.18 at 11:19 pm

#92 Keith on 11.10.18 at 9:24 pm “It’s annoying to listen to the right wing simple minded economics. “Lower taxes, it solves everything.” It’s the biggest policy failure ever. Growth doesn’t increase near enough for the loss in revenues, and the job and business bonanza fails to materialize. You have to pick the winners, otherwise you’re financing executive bonuses and stock options.”

You didn’t say anything about deregulation which is a large part of “right wing simple minded economics” plans.
How did BC score on that?

#104 When Will They Raise Rates? on 11.10.18 at 11:36 pm

BTW, I strongly disagree with the TPP or any pact that usurps our sovereignty… Bilateral trade deals are much better.

#105 AB Boxster on 11.11.18 at 12:03 am

Don’t hold your breath Ryan.

T2 believes has said that “there is no core identity, no mainstream in Canada”.

He and Morneau are a couple of trust fund fools that think that gendre equity is most pressing issue in the country today.

“Oh, how Canada would be so much better if we could just get more women into the STEM subjects!

No consideration that even if there were more women in these areas, there would be no real jobs for them, since they have killed off most industries in this country that might employ them.

Every time a Trudeau gets into power the county of Canada becomes more divided and a bigger fiscal basket case.

Make Canada Great Again?

Not possible with these idiots who spend most of their time apologizing for the past.

Its what you get when you elect a feminist drama teacher with a pretty face and an shockingly empty head.

Selfies anyone?

#106 will on 11.11.18 at 12:07 am

One Belt One Road

Finally we are talking about OBOR! (or Belt and Road Initiative BRI).

It’s the most exciting project going on in the world today. And you rarely if ever hear about it in the MSM. High speed trains going everywhere. We can’t even get one high speed train in the main corridor in Ontario.

#107 Lawnboy on 11.11.18 at 12:09 am

Garth and Ryan

Its time to talk about some ROI.

In 1979 I met a veteran that fought in Hong Kong. Of course he lied about his age (15) to enlist and off he goes for the thrill of a lifetime, and a free trip to the orient, to be thrown under the bus of war.

The details of his 6 six days of combat, (yes six+) are in the recorded books of who did what and when, but near the end, The Rifles Sabotaged the runway at the airport and put up the white flag. They then spent years to rebuild same for their Japanese Guards.

And then the next port of call was…..wait for it,,,,,,,,,,.Nagasaki! Yup, he worked in a coal mine for the remainder of his time in Japan. Let’s say the movies got it mostly right. He was there with Brits and Canadian soldiers, Dutch Nationals ( Burma and Philippines), Americans marines (one was a very good artist and did pastels of camp life) all POWs in the Japs eyes. They suffered Yuge, those that were near death were the only ones to get a soup with meat in it made by the camp cooks (not the Jap all inclusive plan). The meat came from the snake pit that they cultured for this purpose.

Art was in camp so long that he could read and speak Japanese by the time it was over.
They mined coal by crawling in to the veins and seams with a trowel and a Kiboo,( a woven basket ) and then carry their load back to a rail car. He told me that they were so hungry they ate the TNT charge to calm the pain and slow their efforts to the war. They worked every day of the year with the exception of the Emperor’s birthday, for near 5 years.

He knew the bomb at the port city was big, because the papers said it was a fluke, never going to happen again they Trump-peted, It wasn’t long before the keepers did not show up for work. After his liberation, they stopped on the train in the port to see the silhouette of a man and his horse cart burnt into a cement wall. Art said the hair stood up on his neck for the first time, he thought he had seen it all, even after witnessing camp executions, He was spooked big time.

The Yanks got him to Hawaii, and then the Canadian War Ships straight to the Vancouver medical office where they pronounced he was going to reach the ripe old age of 28 based on his pathetic looks, you’ve seen the photos, Art just turned 20.

What was his ROI.

My unwavering respect for the rest of my life.

LB

#108 SOUTH OKIE on 11.11.18 at 12:11 am

Don’t forget Remembrance Day

#109 Paul on 11.11.18 at 12:17 am

70 Johnny D on 11.10.18 at 7:04 pm
Weed, weed and more weed. Apparently that’s Canada’s future. Forget the environmental cost of large scale grow ops, the cost to healthcare when carcinogenic smoking takes its toll and increased policing costs. People NEED to get high.

We can trash our energy industry. Who needs transportation, heat, or products derived from petroleum.
=-====================================
Yes, and all taxes that will be paid on canabis.
Lol,won’t happen went for a drive today and stopped in to a “smoke shop” near Cobourg all the weed products you could want, went in for a peek. What a joke Cash only 3or 4 atm’s.Parking and store full fill out a form no I.D. Check off some medical issue talk to the clerk pay and walk out.

#110 fishman on 11.11.18 at 12:22 am

Want to make Canada Great Again? Populism, {economic nationalism} the way to go. I know all you Trump haters will wretch but you separate the man from the policy.
Check out Russia’s agriculture lately? Last year, largest wheat crop in the world. Self sufficient in dairy, 5 more years they’ll be self sufficient & exporting in poultry. The farmers & factory owners praying for one thing. 10 more years of western trade embargo. Russian business is happy because Putin has counter embargo’d U.S. & Europe. He’s subsidizing Pharmaceuticals, light & heavy industry, agricultural. Making the oligarchs rich. So what? Isn’t Bezo or Gates or Buffet orThompson or Pattisson or Koch brothers or Page or Zuckerberg an oligarch? In ten years the Russians will be competing & beating us in the world export market for agriculture & wood products. Putin is a populist & he’s made Russia Great Again. The stupid west played right into his economic nationalist hands. Instead of Putin having to put the hammer down on his people to become self sufficient & modernize their industry & agriculture, he can blame their tough transition period on the west. And they don’t (& they can’t) compete with the far ahead west in any free trade scenario in the 15 or so years of the transition period.
Who knows, maybe we can grab hold of Trumps coat tails & tag along with his economic transition. I’d even be fine jumping in bed with Putin. Russia being far more akin to Canada. Lets put our oil,agriculture,wood,minerals in the same pot & play hardball with the rest of the world. We don’t need any charismatic, egotist for a leader. A bland Mackenzie King, self effacing Chretien, a grinning pasty face Andrew Scheer is just fine.
Lastly, you can’t keep plundering the wealth of the hinterland & transferring the wealth to the urban cores. Whether its Churchill power, Alberta oil. B.C. minerals & lumber,Prairie natural resources the state is far far too greedy.
Of course thats tied in with economic nationalism again because the state just wants the straight up cash for the raw materials rather than the dribbles that come when you start processing at home.
I guess the canuckleheads will decide. Keep going with the cheap Chinese crap or bite the bullet,bear down for some lean years & Make Canada Great Again.

#111 Steven Rowlandson on 11.11.18 at 12:29 am

Paul Martin’s efforts to tame the debt monster by paying down the debt was a miracle of fiscal rectitude which at the time improved my attitude regarding the government for a short time. It is doubtful that there are any other heroic political leaders in a position to do the same thing and stick to it. There are too many who see virtue in excessive spending even to the point of bankrupting the country. Such a situation will not end well.

#112 will on 11.11.18 at 12:36 am

#82 Robert Ash

Hey Robert, you are using too many caps. Your comment looks interesting but I quit reading a paragraph in. It’s too hard to read.

#113 Spectacle on 11.11.18 at 12:38 am

Interesting for those who appreciate back story.

The “vision or Agenda30” , and China plan for integrating its “One highway….or my way or the Highway”. Truth is grandest control schemes have slipped taken effective influence over the world nations.

Worth the search if my link doesn’t work.

Agenda 21? The Plan To Depopulate 95% Of The World By 2030 | Disclose.tv
https://www.disclose.tv › agenda-21-the-…

#114 Figure it Out on 11.11.18 at 12:50 am

So lower corporate taxes, more infrastructure spending AND balanced budgets? “…but we need to look long and hard at other areas and see where fat could be cut ”
????
Well, have at ‘er. We’re running $20 billion deficits, cutting corporate tax rates to match Trump will cost about $9 billion, and the PBO says debt service costs will increase by about $16 billion in the next five years. So that’s $45 billion a year you need to find, plus whatever infrastructure spend you’re planning. Assuming you’re not going to touch OAS, CCB, EI or provincial transfers, the balance of federal spending is running at about $126 billion a year. Have you seen Penn Jillette lately?

It’s worth remembering that government spending is private sector income. Government deficits are private sector surpluses. Poor people spend every dollar they receive from the government, but rich shareholders most decidedly do not.

#115 Dolce Vita on 11.11.18 at 2:12 am

1. Not crazy about your Globalist trade ideas.

When Canada had tariffs, pre-1980s for those that can remember, we were more affluent and self-sufficient (if you want to sell here, build a plant and employ people; otherwise, we will tariff the hell out of you and that creates an opportunity for Canadians to make that product here instead).

That goes for auto, toys, you name it. Force foreign countries to build plants here or suffer huge tariffs that make their product too expensive to buy in Canada. Back in the pre-1980s you could actually expect a “gold watch” if you worked at one of these plants when you retired. No longer.

Look it, Canada has near unlimited and abundant resources that everyone else needs. Foreign countries will come here for those resources because they have to, not because they want to or we are some safe haven for the repressed.

Canada is a massive country where distances are great between large population centers. This means, and for those that have indeed run a business, that those distances make shipping costs prohibitive for Canadian made products especially when trying to ship a product overseas (or South of the border) at a competitive price point.

So here we are, bestowed with these resources and what do we do?

We sell them overseas or South of the border and then let these foreign countries add value to them to make products which we turn around and let them sell here, duty free.

This globalist free trade has caused unthinkable labor disruption since the “free trade” inception 1980s.

You do know that Canada, since NAFTA and all these other half baked post 1980’s “on paper it should work” wrong mindedness has cost cost us:

Over 1,000,000 manufacturing jobs lost. Gone. Into the ether (actually, to other countries).

This makes NO SENSE. And it’s stupid.

2. As for corporate tax cuts, who is going to pay for them?

You want to throw the Government into more debt so that we can encourage foreign companies to invest in Canada. Equally stupid idea that impoverishes Canada.

The pre-1980s way says build a plant here and employee our people or be tariffed into oblivion. No need for tax cuts to attract foreign capital.
History shows foreigners came here and built those plants and employed our people without the need for tax cuts.

3. Population wise we are small relative to the 300 lb. canary South of the border plying back alleys at night saying “here kitty, kitty, kitty”.

They have the population base to absorb large tax cuts and to eventually pay for them, we do not.

Canadians think they are Americans. We are not and not just socially, census wise. Plain and simple, we do not have the population base they have. And their population is evenly distributed over its land mass. It is CRAZY to think can behave as they do.

To quote the very environmentally flawed Al Gore, here’s an inconvenient truth to all you TRADE GLOBALIST MAVENS:

2017 TRADE as a % of GDP (per World Bank):

Canada = 64% (35% in 1960).
USA = 26.6%.

THERE YOU GO. Why the US has been a job creation engine and affluent, because they SOURCE locally and MAKE locally.

Also, why NAFTA did not matter to them as much as a trade deal does to Canada. To them, trade is nothing more than some gravy on top of an already large steak.

Something a small and far flung geographic population country like Canada cannot hope to emulate unless it mandates sell here, make here or pay the price.

We have the resources. “They” will come to us because they HAVE TO.

As for value added foreign products, I prefer the value be added by Canadians to our resources, not by some foreigners.

There, NO NEED for HALF the Globalist nonsense you recommend in the Blog today.

Use our strengths, gerrymander our weaknesses to advantage.

We have become as a nation NUMB in the brain to our basic strengths and how THOSE THAT CAME BEFORE US properly addressed our weaknesses.

#116 Stan Brooks on 11.11.18 at 2:51 am

#80 Fish on 11.10.18 at 8:03 pm
Canadians projected to live longer, but can they afford it?
The bottom line on a greater life expectancy is bigger nest eggs, delayed retirement
CBC News · Posted: Feb 23, 2017 4:00 PM ET | Last Updated: February 24, 2017

https://www.cbc.ca/news/canada/life-expectancy-cost-1.3995606

Greg Deacon, a Toronto-based financial planner, says he advises his clients to plan to spend about $50,000 per year from their own assets to live comfortably. Money received from Old Age Security and the Canada Pension Plan should be used to cover taxes, he says.

Yet, fewer than one-quarter of tax filers contributed to a Registered Retirement Savings Plan (RRSP) in 2014, according to Statistics Canada. In the third quarter of 2016, the household savings rate — the difference in a household’s disposable income and its spending expenditures — was 5.8 per cent. In 1982, the rate ticked as high as 19.9 per cent.

“If you take a look at the state of affairs in Canada with housing prices where they are, student loan balances being higher than they’ve ever been, it’s a real struggle for young Canadians to even think about retirement planning because they’re so focused on the here and now,” says Preet Banerjee, a Toronto-based personal finance expert.

—————————————-

The cold hard truth.
No savings, just debt.

If you are younger than 35 you are basically wasting your life and that of your (unborn) children here.
This place needs debt serfs/slaves, not critical thinking people.

Modern feudalism.

#117 PO'ed in AB on 11.11.18 at 2:56 am

Canada has the largest reserves & production of Uranium in the world, bigger than the USA or Australia & we do not use it to it’s best advantage, electrical power in areas where efficient Hydro power is scarce.

Oil should be reserved for plastics & other oil production products, specifically the heavy diesel ends for trucking goods efficiently & fueling the working engines of agriculture & industry, until someone invents a “cheaper, better, more efficient propulsion system” to replace those fuels.

We use natural gas, which burns cleaner & for fertilizers, but even that is Verboten to the luddite Greenies.

I have a hard time dealing with closed minded folks who think that expensive, inefficient, temporary wind power that slaughters birds & other flying creatures by the thousands daily (windmills were ditched when the internal combustion engine was invented & all those farmers with windmills went over the GRID POWER on the homestead), is a better alternative to what really powers our society, fossil fuels, especially when attempting to use battery power to drive north to Edmonton on a cold, winter day.

It doesn’t work efficiently & people who know better should not be pushing that kind thinking, when the battery dies at -25C & a stiff breeze, because you will freeze buddy, believe you me out here on the bald arsed Prairies in winter, waiting for a Chinook to come along. Downtown Toronto works, because they are situated about the same Latitude as Oregon State. It’s plenty warmer.

Canada is located NORTH of 49 DEGREES LaTITUDE. It’s winter like in Russia 6-8 MONTHS of the year, on average. I live in Calgary which is 51 degrees North Latitude, or to put it to you, about the lower end of James Bay. Stretch that line further east to the EU & we are just south of London, further east we are at the southern end of Kamchatka Peninsula. Edmonton is 300 odd km further north & the USA border is 225 km south of us.

There is a whole lot of “uninhabited” & virtually non farmable land, covered with trees that EAT CO2 by the mega tonnes annually up there. Canada stretches to the North Pole, practically, from about 500 km north of the US border. Nobody really lives there, it’s frozen 6-8 months of the year & any differences in that are driven by what energy we receive from the SUN, as the Earth orbits that very SUN.

It’s “seasonal” folks, trust me on this. We are already in the “cold zone” up here, North of 49 & it is NOT warming up anytime soon, despite all the blather & hype produced about the subject. It isn’t happening in any way that humans can control, if you really think about it.

Toronto is located in a comfort zone at 43.6 degrees North Latitude, or about Coos Bay Oregon, 650 km south of 49 Degrees Latitude, Vancouver’s warm, moist western climate, the weather is “nice” there.

Let’s get things into perspective, here. Two parts of Canada wish to impose their experienced “weather” conditions as a benchmark on what everyone else should be doing to keep the weather “COLDER” every where else in Canada, but where they are in winter.

You can’t control it, ( the UN isn’t interested either & has stated so, it’s really about the destruction of Capitalism, stealing your money & not about “climate”, shhhh, don’t tell anyone…..but they did recently, GOOGLE it). Unless there is some sort of “switch” to turn down, or up the heat generated by that great big NUCLEAR FIREBALL, 150 million kms away in the vacuum of Space, you cannot Kontrol the Klimate. That Physics don’t hunt.

Even the Ancients had that one figured out, before someone invented PHYSICS. Smarter than the average bear, back then. What’s wrong with us, we can’t even figure stuff like that out today with “real science”?

I won’t go into the idea that the LPOC has the “rights” to CO2 production (a goodly chunk of it belched outta Chinese factories, & drifted east with the prevailing winds) & thinks it can TAX you on your usage, as if they owned you & the air you breath to live. You exhale CO2 in case you’re wondering & you ARE CARBON BASED LIFE on this planet. Reduce [email protected] (what this exercise is all about to luddites) & drop CO2 to levels below 250 ppm (we’re at 400 ppm now) & photosynthesis begins to STOP, At 200 ppm, it fails & ALL CARBON BASED LIFE DIES, including people & your little puppy.

That’s the “science” in a nutshell. Why would you attempt to screw with the System that operates on this Planet as a TRACE GAS, that is the basis for all other carbon based life on the planet?

CO2 is not a “pollutant”. It is a vital ingredient to all LIFE as we know it on this Planet. During the oil forming years (Jurassic, Cretaceous ages) CO2 ranged from 1700-1900 ppm. NOBODY DIED! We “built” BIG plants & critters that ate them & we burn the oil & gas produced from the rocks of those ages. A human would be an ors’dourves, in comparison to those beasties.
Tour the Tyrrell Museum for comparisons.

Have a good weekend folks, support our veterans on Remembrance Day. Mine were at Halifax, 1917 & the western front, Belgium 1915. Great & Grandfathers. I salute these men for what they went through on our behalf. They were some of the lucky ones, who lived to tell the tales, because I’m here. They came home, others didn’t.

#118 Crazyfox on 11.11.18 at 6:29 am

Sorry Doug. “Trying to improve the lives of the American people” does not cross my mind when it comes to Trump. Instead, traitor… bigot… narcissist… fake president comes to mind. I see Trump enriching himself at everyone else’s expense, its all I see.

All Trump is doing is holding the world back. Why? Because on top of his own greedy, grandiose self interests, he is a stooge. A puppet to Putin for laundering $$$ to get big loans and a good cut of the $$$, and a puppet to the Koch bros and U.S. big oil. The old, fat, carney barker demagogue con blowhard is holding the world back and doing great damage to its environments by simply enabling business as usual, worst move possible for any president right now.

Watch this video and you’ll see my point:

https://www.youtube.com/watch?v=duWFnukFJhQ&t=2848s

What Trump has done, has set green energy back by at least 3 years and counting. That doesn’t sound like much, but its an extra 5+ ppm of C02 (and counting) that this world will have to… endure. North America should be leading the way in green tech and instead, we are leading the way in pollution. :(

“The combination of a lower corporate tax rate and faster depreciation expensing makes the US a much more attractive place for corporations to invest. We should look to address this.” – Doug

Don’t think we aren’t and while you are quick to splash a chart on Canadian Federal deficits, why not show U.S. deficits? Maybe then you will see that a $ 20 billion dollar deficit for a nation of 36 million people are a far cry from a trillion dollar deficit for 326 million. By these numbers, the U.S. is running red ink 5 times faster, that’s right, 5X faster than we are! Stupid is as stupid does, you think we should follow?

What I’m trying to say is, if the U.S. doesn’t expand their tax base or cut spending severely, we won’t have to worry about our national debt since, because its borrowed in U.S. dollars, within a couple decades, American money will have to go through a 2 : 1 consolidation just to be taken seriously again.

If the U.S. doesn’t right its ship… and do it soon, it risks becoming a false economy. That’s what happens when you spend 40% more than you take in and do it consistently until you run out of a tax base to generate enough revenue to offset and the only way out is to inflate away or go through a currency consolidation and we all know what that means. That’s right, bye bye buying power. We get to be like, say, where China was 10 years ago.

Let’s take your example Trans mountain pipeline. Watched that video yet Doug? Watch the whole thing and pay attention to the 55 minute mark. By all means, please do and tell me Tony Seba is wrong when he says that when electric cars go mainstream on the S curve, oil isn’t sunk at least, when it comes to oil that can’t be produced for $ 25 a barrel or less meaning these pipelines coming from the tar sands need a rethink in terms of cost. The only thing we should in right mind disagree on, is when. When do electric cars take off on the S curve… 2020… 2022… 2024… later?

In January of 2018, the CEO of Ford came out with a 3 year plan for shareholders/buyers in terms of what to look forward to with cars and trucks. By 2020, 13 of 20 Ford brands are going electric (hybrid and/or full electric). This includes the hybrid only option F-150 for 2020 and 2 all electric SUV’s with over 300 km’s of range before 2020 unless, of course, something has changed with Ford’s new CEO.

Ford’s newish CEO Hackett of the 7:15 mark:

https://www.youtube.com/watch?v=0HZqKTSDtZE

… says to the question of “will I have a driverless electric car by 2030 or sooner”? Hackett’s answer, “We are committed by 2021 to be at market”.

So, we have 2 major transportation disruptions coming in the next decade. We can disagree about exactly when, but the 2020’s will see electric cars dominating the market at some point with the introduction of driverless cars, 2 major techs diverging at once, if not in Dinosaur Trump land, last of the obsolete oil driven economy, definitely in Europe, China, east Asia and likely Brazil, possibly the world.

The world needs this, our environments need it, its not the end of fossil fuels when you look at how long it will take for storage to catch up to wind and solar along with implementation and its not the end of oil when it comes to the manufacturing of plastics for sure, but it is the end of oil demand for cars and its so long overdue. Live in a city? Brace for a shorter lifespan because of smog. The idea is old already, isn’t it unless you’re Teflon Trump. He’s going to make money forever and take it to his grave, he’s so dim. Can’t wait for that crooked AH to move on.

#119 Bezengy on 11.11.18 at 7:07 am

Balance the budget. Period. There will always be a good looking politician selling you a master plan that doesn’t include pain, and nice people who want to believe will vote for them. This debt problem will eventually get solved, but it won’t be by Canadian voters.

#120 Hicksville Alberta on 11.11.18 at 7:11 am

For anyone interested gaining some pretty good insight and understanding of WW1 on this 100th anniversary of the end of the war, here are a few good documentaries that can be found on youtube if you are interested:

” For King and Empire ” = a great 7 part series on Canada’s participation in WW1 from beginning to the end of the war. Posted by Battlefield documentaries. Each episode is about 47 minutes

” Turning Points of History : Passchendaele ” – An excellent documentary on Canada’s participation and completing ( winning ) this battle in October / November 1917. Posted by VeteransRadio.ca . This episode is about 47 minutes .

” Shell Shock in WW1 ” About 49.5 minutes, posted by Dr. Alan Brown. You will find some quite disturbing sights in this episode but it is ground breaking.

” The Great War : WW1 BBC 1964. A 26 part documentary on WW1 from a British documentary perspective but an incredibly well done series. Each episode is about 38 minutes.

If you are interested and get in to any of these and think they are good value, it would be appreciated if you consider passing what interests you on to others.

I have focused only on WW1 because of the centenary but have several interesting WW2 that i could dig up some time.

#121 crowdedelevatorfartz on 11.11.18 at 9:07 am

@#78 Flop
“why they can’t route a pipeline to Tsawwassen instead.”
+++++
An excellent question my Aussie Amigo.
You mean like the pipeline to the airport flowing Jet Fuel?
The pipeline that’s been talked about for years(and years and years)?
The pipeline that will rid the LowerBrainlands terminally clogged roads of hundreds of fuel tankers per year?
That pipeline?

https://biv.com/article/2017/06/new-150-million-jet-fuel-pipeline-project-underway

But I digress.

A pipeline to Tsawwassen makes a lot of sense until you realize the last refinery in the entire Lower Mainland is in Burnaby.
Built before, during and after the second world war.
Any pipeline needs a terminus with holding tanks that Tsawwassen currently doesnt have. ( More time? More protests ? More billions to buy and build? We are talking endless hand wringing Canada after all.).
And Tsawwassen land around the Roberts Bank container/coal terminal is under Land Claim litigation, agricultural reserv status, NIMBY activists…..so unless T2 follows through with his plan to actually build the damn thing in Burnaby and then give it ( and the BILLIONS in royalty money) to the 1st Nations affected by the pipeline route…..it’ll be endless years of protests. Which the previous Trans Mountain pipeline owners could have sued the Canadian govt for “loss of revenue and won” .
Hence Canada’s ownership of the pipeline.
And T2’s musing that he may give it to the First Nations affected my it’s route….which reinforces the old adage ” If you cant beat the protesters….buy them!”

Not that there were any protests when the massive, hideous, empty Tsawwassen Mills Mall that was just built on 1st Nations land isnt an environmental nightmare for the millions of migratory birds affected by the lost grazing fields during Fall and Spring migrations, the lost agricultural land reserve farm land growing food for the millions of people living within minutes and light pollution at night screaming out to non existent potential customers…. “Shop Here Please!”
No……We NEED another massive Mall with acres and acres and acres of empty parking…..
Does anyone stop and shop there?
Nah.
Build the new pipeline to veer south at Sumas( just like a branch of the old pipeline has done since 1952) and run the Bitumen goo to Cherry Point in Washington State. Let them deal with it rather than shipping it through Burnaby, under the second Narrows bridge, through busy Vancouver Harbour, under the Lions Gate Bridge, across English Bay, down the Georgia Straight, through the Juan de Fuca, past Victoria and if all goes well…….thousands of miles to Asia in tankers.
We ship about 300,000 bbls/day through the current 75 year old line and most of that goes to Washington State now.
The refineries there are 12 times(590,000 bbls/day) the capacity vs the Burnaby refinery( 50,000 bbl/day) and they are set up for the tankers that go to Alaska, Cali, Asia, etc.
The Washington State refineries ship 90 % of their product back into the US……not overseas.

http://www.timescolonist.com/news/local/the-great-pipeline-debate-why-isn-t-more-oil-refined-in-b-c-1.23284624

If we ship it ALL to Washington State, there will be some royalties to collect, 95% or more of the product will stay in North America.
Which means the same amount of ships will be plying coastal waters( cause oil spills dont care about borders), the same amount of ships means the same amount (or fewer)of whale strikes, etc etc etc…..

So even the “Save the Orca” crowd should see the logic in that…..but again…..we are talking about T2 and the politically correct Butzheads that are running the country so dont expect logic, fiscal intelligence or timely decisions…..especially when the election clock is ticking to T2’s second royal ascension next Fall……

#122 Tim on 11.11.18 at 9:12 am

Pushing through the pipeline is one of the more short-sighted, ill-conceived ideas, not surprised that we would hear this from someone who’s analysis is overly simplistic and doesn’t even factor in environmental concerns, of which there are many.

#123 crowdedelevatorfartz on 11.11.18 at 9:22 am

@#112 Steve Rowlandson
“Paul Martin’s efforts to tame the debt monster by paying down the debt was a miracle of fiscal rectitude which at the time improved my attitude regarding the government for a short time’
+++++

Total agreement.

I wrote him a letter when he was the Finance Minister thanking him for his efforts and I actually received a short hand written reply back ….signed by him…
He got my vote for PM.
Unfortunately he tried becoming “everything to everyone” and crashed and burned.
T2 take note….

#124 Blackrobe on 11.11.18 at 9:43 am

I have been reading this page since day one it can get edgy, but never cringe worthy until now. Neither Canada nor the US has never been great instead there has always been great individuals lets not go down that road with Trump. Just bean counting please.

#125 Ryan Lewenza on 11.11.18 at 9:54 am

Doug in London “The idea of reducing our corporate tax rate, as has been done in the United States has its merits, but it comes with a price. It has caused the deficits run by the U.S. government to increase greatly, adding even more debt. During boom times like now governments should be running surpluses, paying down debt, and ultimately getting ready for the next recession. Do we really want to follow the American example, when we should be getting our deficits and debts under control?

I agree cutting corporate taxes does impact our ability to balance the budget and I would propose only cutting it by a percent or two. We don’t need to necessarily match them. But if we could do that and address the depreciation expensing then we would close the gap which I think would be positive to our economy longer term. In a very global world like we live in now where capital can easily move around we need to remain competitive with other countries. – Ryan L

#126 Ryan Lewenza on 11.11.18 at 9:59 am

Mapleridgeguy “Hey Ryan. What’s your take on the veto clause the Americans stuck into our FTA that requires we get their’s and Mexico’s agreement on any FTA agreements we negotiate with other countries. I’m thinking in particular about finding new customers for our oil.”

I’m not a fan of it and it was definitely a big win for the US. But if that was a deal breaker for the US then I think we had to make the concession. Also I just read yesterday in the G&M that Canada is changing tactics with China and looking to do trade deals in 4 separate areas rather than one big comprehensive trade deal. If correct this may allow us to work around that veto clause. – Ryan L

#127 Ryan Lewenza on 11.11.18 at 10:05 am

Stan Brooks “Canada has one of the lowest Federal government debt-to-GDP ratios in the world.>
is absolutely misleading. Other countries do not have the provincial debts that we enjoy. Their federal debt = government debt. Stop promoting the federal debt as the only government debt for Canada.”

I disagree with this. In the US for example their Federal debt to GDP is 100% and this doesn’t include State or Municipal debt. It’s only Federal debt. So on this metric (Federal Debt to GDP) there is no comparison (we’re at 40% and they are at 100%).

#128 Figure it Out on 11.11.18 at 10:05 am

TSX 60: Net income, tax paid and tax rate. Most recent annual. E&OE
RY.TO,11428000000,3203000000,21.9
TD.TO,10396000000,2253000000,17.8
BNS.TO,8005000000,2033000000,20.3
CNR.TO,5484000000,-395000000,-7.8
BMO.TO,5348000000,1296000000,19.5
CM.TO,4699000000,1162000000,19.8
SU.TO,4458000000,1458000000,24.6
CVE.TO,3366000000,-52000000,-1.6
TRP.TO,3157000000,-89000000,-2.9
BCE.TO,2914000000,1039000000,26.3
ENB.TO,2859000000,-2697000000,-1664.8
TECK-B.TO,2509000000,1438000000,36.4
CP.TO,2405000000,93000000,3.7
BHC.TO,2404000000,-4145000000,238.1
CNQ.TO,2397000000,476000000,16.6
SLF.TO,2242000000,302000000,11.9
MG.TO,2206000000,744000000,25.2
MFC.TO,2068000000,239000000,10.4
NA.TO,1940000000,484000000,20.0
RCI-B.TO,1711000000,635000000,27.1
ATD-B.TO,1673600000,57300000,3.3
L.TO,1502000000,443000000,22.8
BAM-A.TO,1462000000,613000000,29.5
T.TO,1460000000,553000000,27.5
ABX.TO,1438000000,1231000000,46.1
TRI.TO,1395000000,-274000000,-24.4
POW.TO,1338000000,543000000,28.9
GIB-A.TO,1035195000,382702000,27.0
FTS.TO,1028000000,588000000,36.4
PPL.TO,891000000,142000000,13.7
SAP.TO,852500000,97400000,10.3
SJR-B.TO,851000000,190000000,18.3
ECA.TO,827000000,603000000,42.2
HSE.TO,786000000,-362000000,-85.4
WN.TO,759000000,443000000,36.9
CTC-A.TO,735000000,293700000,28.6
G.TO,658000000,-465000000,-240.9
QSR.TO,648800000,-133600000,-25.9
MRU.TO,591700000,193400000,24.6
WCN.TO,576817000,-68910000,-13.6
IPL.TO,526700000,185300000,26.0
DOL.TO,519410000,196275000,27.4
IMO.TO,490000000,92000000,15.8
CCL-B.TO,474100000,127900000,21.2
K.TO,445400000,-23200000,-5.5
BB.TO,405000000,1000000,0.2
ARX.TO,388900000,135900000,25.9
SNC.TO,382035000,102382000,21.1
GIL.TO,362334000,14482000,3.8
NTR.TO,327000000,-183000000,-127.1
EMA.TO,294000000,520000000,63.9
AEM.TO,243887000,98494000,28.8
OTEX.TO,242224000,143826000,37.3
CSU.TO,221968000,98914000,30.8
FNV.TO,194700000,41300000,17.5
WPM.TO,57703000,-886000,-1.6
CPG.TO,-124000000,100400000,-425.4
CCO.TO,-204942000,-2519000,1.2
FM.TO,-316000000,299000000,-1758.8
BBD-B.TO,-516000000,77000000,-17.5
Total,106919031000,16571560000,13.4

13.4% tax rate for the TSX 60 in aggregate.

#129 Ryan Lewenza on 11.11.18 at 10:15 am

BC_Doc “Not a layup/no-brainer for those folks living in coastal BC. Some of us remember the Exxon Valdez and don’t exactly relish the thought of a tanker wrecked and leaking in our beautiful waters with oil covering our pristine coasts and gorgeous Gulf Islands. Send a pipeline east first, preferably through Trudeau’s Montreal riding.”

I completely understand this position but I’m looking at it from a national basis and what it could mean for our overall economy long-term. Additionally, the government will need to and has proposed strict regulations and guidelines around the ships moving the oil to reduce the chance for a spill. We’ve already been shipping oil by tankers for some time without a major incident so I think it’s possible to increase this oil flow without major environmental consequences (ie Exxon Valdez). – Ryan L

#130 Doug t on 11.11.18 at 10:23 am

#5 Ryan

Why? Why do truths offend you?

RATM

#131 Wally Wingnut on 11.11.18 at 10:26 am

#116 dolce vita
Agreed. In the 1970’s almost everything was made in Canada’s branch plants. You name it. Car parts, mufflers, tools, electrical panels, shoes, clothes,electronics etc…
What went wrong? Mulroney’s Free Trade Agreement which sent almost all manufacturing to the USA. Then in their wisdom they came up with NAFTA which sent manufacturing and jobs from USA to Mexico. Midas Muffler at the time told us the reason why they were going close the Canadian pipe and muffler plants was that the US plants were running under capacity. What changed? Tariffs and import duties were lifted. It’s that simple. And so our standard of living has been tanking.

#132 Doug t on 11.11.18 at 10:29 am

#86 Ace

Zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz

#133 Doug t on 11.11.18 at 10:35 am

Take off the rose coloured glasses people – this country is hooped. T2 gets another 4 years to continue his ruination of said country – you want change ? Oh your gonna get change alright lmfao

RATM

#134 ANON on 11.11.18 at 11:16 am

I would not worry about being left behind in this rapidly changing global economy. We’ll certainly be going with the pack, since there are no longer local economies, everything is interconnected. What I’m particularly worried about is the direction of this rapid change…

#135 Sam McGuire on 11.11.18 at 11:23 am

Trudeau’s unmistakable message from day one has been his fervent belief to dismantle Canada and kill off our main economic engine. What is there to misunderstand about his message? There is no ambiguity. Trudeau and his army of hate is the enemy of our state.

#136 Keith on 11.11.18 at 11:31 am

@#104 Evangeline

Deregulation goes without saying. In B.C., to provide a couple of specific examples there was a massive tailings spill from the Mount Polley mine due in part to cutbacks in mining inspections. On Vancouver Island a company was allowed to self regulate and dump toxic waste in a local watershed near Lake Shawnigan for weeks until the protest became too loud, too obvious and too public.

All part of the corrupt crony capitalism that characterizes Canada.

#137 blockme on 11.11.18 at 11:47 am

USA=Colombia
Canada=Venezuela

#138 Question! on 11.11.18 at 11:54 am

Ryan tell us how a modern tanker will get to the Westridge Terminal in Burnaby for the loading of bitumen or any oil product, and turn around for the open sea on its way to the Asian markets?

#139 mark on 11.11.18 at 12:08 pm

I will give you the best idea to make Canada great

the federal government should add another 2 percent sales tax and call it the people’s tax. Then at the time you do your taxes, everyone would get the money collected divided equally to every Canadian.

here are the benefits, everyone will get a nice cheque every year. Every Canadian will benefit from everyone traveling to this country by getting a cut from the billions spent. Also, it will help the lowest class most, because if someone with millions spends half a million a year that will go in the pot. And someone with very little money spends 10 thousand a year. Everyone would get the same amount back. Imagine if every Canadian got a refund cheque of 5 thousand dollars every year. People would go out and enjoy spending it.

#140 dharma bum on 11.11.18 at 12:22 pm

Canada needs to double its population, minimum.
Immigration policy, however, needs to be reformed such that new immigrants MUST be restricted to residing in specific regions that need the population boost.
Vancouver, Toronto, Montreal are off the list. Those places have way too many people as it is.
Incentives must be provided for people to move to and/or immigrate to the sparser areas of the country.
Infrastructure spending can eventually take place in the regions that begin to fill up.
Canada will never get anywhere until it has at least 90 million people, more evenly distributed throughout.
We need a much larger tax base, and we need a self sufficient economy so that we can trade goods and services amongst ourselves, not just rely on exports.
A little less head-in-the sand idealism, bogus altruism, and self aggrandizement by the leaders, and more prudent, pragmatic action is required.
Worrying about transgender rights ain’t gonna cut it.

#141 paul on 11.11.18 at 1:22 pm

Outstanding post Ryan…

#142 TurnerNation on 11.11.18 at 1:30 pm

For those trumpeting SJW on here tell us why few can afford basic child care? Not a peep from our leaders. You’ve come a long way baby.

The plan is clear. We have a de facto economic one- child policy. Go to Wikipedia for a map of countries in which abortion is made illegal. That’s the planned growth
Not here. Our tax farm owners control our breeding and feeding. Few young people want kids. They just want to get stoned and shop.

#143 Millenial CTO on 11.11.18 at 1:39 pm

Been missing Myra Andrews’ posts on greater vancouver real estate stats provided by Paul Boenisch .. searched around the web and couldn’t find his figures directly. It was getting exciting watch inventory build up and sales plummet in Vancouver.

As an aside, I’m currently shopping for a new car. 3 years old in the 35k range. The sales people have been candid sales are terrible since they follow real estate. The cars I am looking at have all been sitting for months and are being discounted thousands more each month.

#144 Doug in London on 11.11.18 at 1:50 pm

@Ryan Lewenza, post #126:
I agree cutting corporate taxes does impact our ability to balance the budget and I would propose only cutting it by a percent or two.
————————————————————
That makes sense, seems like a good compromise.

#145 baloney Sandwitch on 11.11.18 at 2:01 pm

#118. Yes, Canada will be a net beneficiary of global warming but not most of the world. The people who will suffer most will be in the 3rd world countries (most of which will be underwater and/or unlivable). What you are saying is basically- every man to himself and devil take the hindmost. It the classic curse of the commons.

#146 Old Man Too on 11.11.18 at 2:47 pm

$90,000,000 a day of lost revenue. That’s $32 Billion a year. In 15 years the infrastructure deficit would be gone. Even BC could have greener highways so they’re not stuck in traffic all the time.

#147 earthboundmisfit on 11.11.18 at 5:23 pm

As long as oil oligarchs in the U.S. continue to fund the Canadian pipeline resistance, thereby ensuring the discounted price, there will never be another pipeline built in this country.

#148 BC_Doc on 11.11.18 at 5:33 pm

#131 Ryan Lewenza on 11.11.18 at 10:15 am
BC_Doc “Not a layup/no-brainer for those folks living in coastal BC. Some of us remember the Exxon Valdez and don’t exactly relish the thought of a tanker wrecked and leaking in our beautiful waters with oil covering our pristine coasts and gorgeous Gulf Islands. Send a pipeline east first, preferably through Trudeau’s Montreal riding.”

I completely understand this position but I’m looking at it from a national basis and what it could mean for our overall economy long-term. Additionally, the government will need to and has proposed strict regulations and guidelines around the ships moving the oil to reduce the chance for a spill. We’ve already been shipping oil by tankers for some time without a major incident so I think it’s possible to increase this oil flow without major environmental consequences (ie Exxon Valdez). – Ryan L

————————————————————————————————

Thanks for your reply Ryan. All the best to you and your family on this Remembrance Day.

#149 Adam on 11.11.18 at 5:49 pm

#121 Bezengy on 11.11.18 at 7:07 am
Balance the budget. Period.

——

I’d vote for them….wait….whose running on that platform?

#150 John on 11.11.18 at 6:34 pm

Love your analysis normally, but this effort seems to be missing a piece. You trumpet Trumps corporate tax cut, and compare it to Canada’s, stating that the US is now more competitive. But then you show the graph of Canada’s deteriorating fiscal position, without showing the corresponding graph of the US’s fiscal position, which because of Trumps’ tax cuts, is I believe worsening more quickly and to a greater degree (more bigly?). No one seems to be talking about the cost of these tax cuts. Short term improved competitiveness and increased long term debt sounds a lot like Reagan’s trickle-down economics 2.0. Love to see the Canada/US deficit (and debt) comparison in your next post…keep up the good work.

#151 Steven Rowlandson on 11.11.18 at 7:20 pm

RE#147

What global warming? We are in the Eddy minimum mini ice age as of 2014 and I have the dubious pleasure of sleeping in my car this time of year and it is freaking cold at night. Give it a try for a week or two and tell us all about it.
The deliverance from this situation will be late in this century and that is if we don’t slip into a major glaciation.
If you like freezing your butt off you are in luck.

#152 Jeff on 11.11.18 at 9:14 pm

I am a Canadian living in the USA and I hate everything about this blog entry. Sounds like another sour conservative rant. I imagine Ryan would be happy to reform the Canadian healthcare system too and bring in private health insurance. Got to keep those corporate suits happy and maybe skim another commission cheque in the process. Reading this makes me more committed than ever to liberalism.

#153 Bytor the Snow Dog on 11.11.18 at 11:07 pm

#5 Ryan McGinnis on 11.10.18 at 1:46 pm sez:
“Any commendation of Trump makes anything else you say irrelevant. Shocking that people still don’t understand that.”

—————————————————–
Any condemnation of Trump makes anything else you say irrelevant. Shocking that people still don’t understand that.

That’s what you meant, right?

#154 Still learning on 11.12.18 at 3:13 am

Clean Disruption is coming. so investing in a dinasour pipeline is NOT a viable option

https://www.youtube.com/watch?time_continue=9&v=4hoB7HN4B0k

#155 Country Girl on 11.12.18 at 5:48 am

The Trump hat replicated represents division, corruption and nationalism — the opposite of greatness. Exactly what Canada doesn’t need. We’re already a great country! If you don’t think so then move to the hell south of us.

#156 Vellasamy on 11.12.18 at 12:58 pm

“Working with our energy team I calculated what this record discount means for our country in lost revenues and currently this equates to $90,000,000 every day of lost revenue.”
Gee whiz, Ryan, sounds like an awful lot of revenue for our country. We could build six pipelines a year to tidewater for this amount! Care to have your energy team share their assumptions and methodology with us?

#157 AGuyInVancouver on 11.12.18 at 1:07 pm

#149 earthboundmisfit on 11.11.18 at 5:23 pm
As long as oil oligarchs in the U.S. continue to fund the Canadian pipeline resistance, thereby ensuring the discounted price, there will never be another pipeline built in this country.
_ _ _
Oh, did they just fund the US court that stopped work on Keystone XL too? Wouldn’t that kind of go against you tinfoil hat theory?

#158 Concerned Reader on 11.13.18 at 12:38 am

If low corporate tax rates incentivized business investment and growth than the Caribbean nation’s economies would be powerhouses instead of a couple dozen lawyers and bankers managing a couple thousand shell companies. How are you going to balance a budget or invest in infrastructure when you eliminate a large portion of the tax base? This race to the bottom only benefits the corporations and holders of capital and destroys our society.

#159 lisa on 11.13.18 at 1:23 pm

Can someone please explain to me why we should be building pipelines instead of refineries?

#160 Crazyfox on 11.13.18 at 7:31 pm

Why did I call Ryan, Doug? Lol, too early in the morning for me perhaps, I don’t know. My #120 was meant for you Ryan and I hope you check out the links! 3 days later and my sober second thought hasn’t changed a thing. We are headed for a transportation disruption and with it, an energy disruption with oil. Solar and Wind are tech advances away with storage and we may already have it:

https://www.designnews.com/batteryenergy-storage/innovative-batteries-require-contrarian-thinking/32508106259066

A working model by 2020, 2 years to retool a factory and 9 months to replicate anywhere in the world…

There is very negligible degradation with this type of storage which is great (less than 1% over 30 years), but efficiencies are 78% and should be higher. Even so, what can compete with this and is 78% enough when one considers steady consistent on demand power 24/7 in return? Its a total game changer for wind and solar, without a doubt. We could be looking at electrical generation disruption in the latter half of the next decade, but even so, I see a lack of political will that is beyond troubling and the propaganda behind it! I guess time will tell.