Sad

My, my. In Canada, you say? Political assassination?

Eyebrows flew when our top civil servant (Privy Council head Michael Wernick) told MPs on Thursday he thinks somebody could be offed during the coming election campaign.

“I worry about the rising tide of incitements to violence when people use terms like ‘treason’ and ‘traitor’ in open discourse. Those are the words that lead to assassination. I’m worried that somebody’s going to be shot in this country this year during the political campaign.”

This little shocker took place during the biggest political scandal to hit the Trudeau government. Likely no coincidence. Rumours are flying this isn’t just about trying to save the corporate butt of SNC Lavalin, nor a tiff between T2 and his former justice minister Jody W-R. It goes deeper, say the wags. The hasty retreat from Ottawa of cabinet minister Scott Brison is part of the story. So is BMO (where Brison landed). And Gerald Butts, of course – Trudeau’s fixer and No.1 political hack who just took a bullet of his own. Fraud. Bribery. Obstruction of justice. Political overreach. Yikes! Canada is supposed to be nice. That Trump stuff is so icky.

Anyway, amid this unfolding mess an election campaign is about to start. Scheer is trending. Trudeau descending. Jagmeet missing. But it’s a long eight months until voting day, and lots can happen.

Probably no surprise that as chaos reigns, the next federal budget date has been announced. March 19th. Expect Bill Morneau to reveal some shiny things to take moister eyes off the tawdry underbelly of politics and focus that gaze squarely on their own navels. The two centrepieces will be a plan to help pay for everybody’s prescription drugs, plus a set of reforms to “give some optimism” to Millennial homebuyers.

The drug plan comes at an awkward time, since it’ll be expensive and the T2 government is already drowning in red ink. If you remember back to 2015, the Libs promised a temporary deficit of $10 billion for two years, followed by a budget that ‘would balance itself.’ Well, the deficits have added up to about about six times that amount, with another $18 billion this year and a projected $76 billion in new debt over the next five years. Now we’re about to get more spending.

And the moister house strategy? Yup, it’s coming. Maybe 30-year mortgages again. Perhaps removal of the $1 million CHMC price cap. Likely some changes to the stress test, or an enriched tax credit to help cover closing costs. Whatever it is, the logic is flawed. The best way for first-timers to buy houses is to make them cheaper – which Mr. Market is doing. The best way to thwart that is political interference.

But here we go again. The only question is whether the kids will fall for it, voting back a government that’s adding huge dollops of debt, jacking up spending over revenues, and guaranteeing they’ll be paying fatter taxes down the road. Likewise, will the wizened, pill-popping wrinklies cheer politicians who subsidize prescriptions with their own tax dollars?

Of course. This is Canada. We’re special. All of us. Why should we expect the government to live within its means, when so many voters have decided to be reckless? Here’s some new evidence: HELOC borrowing has mushroomed again. We now owe not only $1.2 trillion in mortgages on our houses, but also another $243 billion in floating-rate loans against our home equity. And remember that about a third of this money is not being repaid. Not a sous. Borrowers have been making interest-only payments or actually increasing the HELOC size to cover interest.

It makes you wonder what kind of personal finance crisis we might be in if the economy tanked. Or someone got shot.

Well, this is going to be one interesting year. Royal LePage is saying that nice houses in Vancouver will lose more than $400,000 in value this year – yes, that’s coming from a real estate company. The oil patch is a mess, and low prices have seriously nicked national revenues. The federal government has failed its fiscal test and is clearly on the path to significantly higher taxes, if returned to office. And all this has happened when there was no recession, robust global growth and an economic renaissance happening with our largest trading partner.

Now, scandal and assassination talk. Did you see this coming?

 

197 comments ↓

#1 TurnerNation on 02.21.19 at 5:18 pm

Another day in a post national state.
Five stores in GTA.
………..
HBC ANNOUNCES CLOSURE OF HOME OUTFITTERS DIVISION IN CANADA AND UP TO 20 SAKS OFF 5TH STORES IN THE U.S.

Hudson’s Bay Company intends to close its Home Outfitters business in Canada and is performing a fleet review of Saks Off 5th’s 133 stores, with an estimate of closing up to 20 locations in the United States. These actions are part of the company’s strategic plan to reduce costs, simplify the business and improve overall profitability.

#2 CHERRY BLOSSOM on 02.21.19 at 5:20 pm

Regarding RRSP’s and Millenials They do not have to put any money into RRSP’s cause they will NEVER be able to retire. They just have to save up for a body bag.

#3 Jimmy on 02.21.19 at 5:21 pm

That’s a cool picture.

#4 renter on 02.21.19 at 5:35 pm

Liberal party brown shirts (aka antifa) are ready to assassinate anyone trying to take away free stuff.

No one will need to repay debt, neither government nor personal. Canada will just inflate out of it.

Savers will be screwed.

Should’ve bought a house and realtors told “buy now or be priced forever”.

#5 johnny on 02.21.19 at 5:36 pm

Well wouldnt that be a gift to see T2 booted out..but still think somehow he wins..but likely only a minority..but that will still be a victory of some sorts.
People finally are starting to see through the fluffball that is our PM..voting someone in to run a country because his father was famous is not a great reason. If he was hired to host a new reality tv show..or read the news..ok maybe..or give more ra-ra speeches..but running a country.
Please give me a booorrring leader like Harper anyday..even better..someone like Paul Martin..maybe thats what Scheer is..we shall see. From an unlikely Conservative leader maybe he will become an unlikely PM.

#6 johnny on 02.21.19 at 5:36 pm

I got the first post in..yippee

#7 LivinLarge on 02.21.19 at 5:43 pm

“The only question is whether the kids will fall for it, voting back a government that’s adding huge dollops of debt, jacking up spending over revenues, and guaranteeing they’ll be paying fatter taxes down the road.”… well of course they’ll fall for it. They fell for it the first time and they’ll so it again.

If one third of Canadians don’t know the difference between an RSP and a TFSA then how can they make an informed decision about who to vote for based on future tax burden?

Certainly sad but didn’t you write in the last couple of weeks about how short a period it takes Candians to decide to vote for?

#8 marcus on 02.21.19 at 5:45 pm

“Now, scandal and assassination talk. Did you see this coming?” —- When you can see the collapse of the Globalist system these things are expected. Go long popcorn stocks.

#9 MF on 02.21.19 at 5:47 pm

“The only question is whether the kids will fall for it, voting back a government that’s adding huge dollops of debt, ”

-That’s going to be a no from this moister.

Reasons:

1) Out of the 4/10 Canadians that voted for T2 last election, the millennial vote was simply drug addicts asking for legalization, and 2) perhaps women who liked how T2 looked but ignored all policy proposals.

The remaining T2 voters were probably 3) Harper haters (never mind how great a leader he was, he was mean!), and 4) older people voting for electoral reform.

Today the drug addicts can smoke weed when they want and they are usually too high to care to vote.

The electoral reform never came so the older, voters who voted T2 probably won’t vote for him again.

Harper is not in the picture this time so that is not a factor.

T2 still may get women voting for how he looks, but I believe the numbers will be less. The female voting block is far smarter than that.

Conservative minority in the next election.

MF

#10 Penny Henny on 02.21.19 at 5:54 pm

Of course. This is Canada. We’re special. All of us. Why should we expect the government to live within its means, when so many voters have decided to be reckless?-GT
/////////////

You got it backwards Garth

#11 Penny Henny on 02.21.19 at 5:57 pm

And remember that about a third of this money is not being repaid. Not a sous.-GT

What’s a sous?

sous-Dictionary result for sous-
prefix
(in words adopted from French) subordinate.
“sous-chef”

#12 MF on 02.21.19 at 5:57 pm

“The two centrepieces will be a plan to help pay for everybody’s prescription drugs, plus a set of reforms to “give some optimism” to Millennial homebuyers.”

-Like all T2’s ill-thought-out plans, these two will backfire.

1) Moisters, on average, use less prescription drugs than older people. Paying for “everyone’s drugs” basically means subsidizing older people.

That’s a no go.

2) The housing situation is a sensitive topics for we millenialls who view the rise in house prices as a policy driven benefit to the older generations. In what planet does reflating house prices help us?

That’s going to be a no as well.

MF

#13 yorkville renter on 02.21.19 at 5:58 pm

our very own political reality tv show!

who’s making popcorn?

#14 Reximus on 02.21.19 at 6:00 pm

Did NOT see the ‘people will die thing’ coming up at all

#15 Dazed andCONfused on 02.21.19 at 6:06 pm

Michael Wernick is probably correct.

The unfiltered, un-moderated alt-right-wing-nut comments section following any online Sun News article confirms that a future Canadian political assassination is definitely a real possibility.

#16 Figmund Sreud on 02.21.19 at 6:08 pm

Now, scandal and assassination talk. Did you see this coming?
____________________________

Well, … no, but shirt does happen when, somehow, the government looses control, … mismanages handling of fraud, bribery, obstruction of justice, political overreach ‘n such machinations! Dump trucks, …

Best,

F.S. – Calgary, Alberta.

#17 Armpit on 02.21.19 at 6:08 pm

When I was younger, I had to learn to live within my means and pay down my debt. This was easy. Have a budget and stick to it.

T2 has no budget and his lack of one, is now my biggest worry.

Remember when he said he was going the be the fresh face and transparent???

And now the mistruths or lies if you call it by the way you see it.

Wow… Congrats Mr T2. You are officially a politician!

#18 MF on 02.21.19 at 6:10 pm

#1 TurnerNation on 02.21.19 at 5:18 pm

Post national state? Are you asking for a bailout?

Big box retail is struggling these days, which should come at no surprise. It’s just the nature of business. Some thrive, some don’t. Some adapt, some don’t.

That’s capitalism.

MF

#19 Bezengy on 02.21.19 at 6:10 pm

Canadian voters had a choice between electing an economist or a drama teacher, and they chose the latter. We now have lots of drama but no economy. Am I being too simplistic?

#20 The Greater Cauliflower on 02.21.19 at 6:24 pm

I miss the days when the leader of the country and the village idiot were two different people.

#21 gimme stuff on 02.21.19 at 6:24 pm

#53 Smoking Man on 02.21.19 at 12:35 am
Laura Ingerham had a great story on the lefty infestation at the universities.

White privlage and injustice.
Prosperity requires risk and IQ, Not safe spaces.
That’s risk bitches.
Reading people is everything.
Your teachers were taught by other teachers who said fit in at all costs.

Prosperity = risk. Trump people
Provery = coward. Hillary people.
————–

All those poor people put on their vests and made a convoy to ottawa – gotta ask the gubmint for help.
Real risk.

#22 Popcorn and Vests on 02.21.19 at 6:30 pm

Popcorn is my snack food of choice, and am off to make my a pot full with no butter and some sea salt. I am now pondering the manufacturing of vests that are bullet proof, because see a potential demand coming.

#23 young & foolish on 02.21.19 at 6:32 pm

Whoa blog dogs, not to worry …. deficits aren’t so scary after all. So argues Stephanie Kelton … Bernie’s and AOC’s favorite economist and proponent of MMT. It seems nobody’s deficits are coming down anyway. They are simply unpayable.

Either we are in for higher taxes and stagflation, or we eventually end up with a new currency system.

#24 dakkie on 02.21.19 at 6:34 pm

Forced End of “Ponzi-Like Leverage” & “Fraudulent Lending” Turns Australia’s House Price Bubble into “Property Bloodbath”

https://www.investmentwatchblog.com/forced-end-of-ponzi-like-leverage-fraudulent-lending-turns-australias-house-price-bubble-into-property-bloodbath/

#25 Timmy on 02.21.19 at 6:34 pm

The only thing Trudeau has in his favour is that Sheer is stupider than he is.

#26 Debtslavecreator on 02.21.19 at 6:35 pm

Yes I humbly say I did
And it’s only starting – the extent of the governance, monetary policy and financial fraud is going to come to light.
In 3-5 years many in this once great nation will be calling it Canadstan or worse
Those convinced of their superiority are usually blinded by their mediocrity
Voters and borrowers who acted poorly out of their own choice are ultimately to blame
We will survive and one day thrive again but not with this political and economic model we currently have
Many Great Canadian Financial Myths will be busted over the next few years

#27 Zed on 02.21.19 at 6:36 pm

At #11

A “sous” is a penny in french Canada.

So as Garth says: not a penny

#28 Smartalox on 02.21.19 at 6:38 pm

I used to think that a political assassination in Canada was impossible. A Chretien-style pie-in-the face? Maybe.

But when I read some of the base and unhinged rhetoric that gets published on sites of public discourse like this, it seems more and more likely.

Posters seethe here daily about politicians instead of parties and platforms. Political parties used to get voted in or out on the basis of their platforms, policies and performance. Politicians too, but they’re a lot easier to target for vilification.

When I visit this blog (politically charged at the best of times) and see there are posts that even Garth won’t publish, I shudder at what must be going through the minds of the electorate.

Amplify and distort that rhetoric through the echo chambers of the internet, throw in targeted disinformation, the odd mistake and a heap of bias, then layer in personal stressors like crushing debts, failed investments, income loss, powerlessness and fear, and you’ve got a situation that will get out of hand.

The worst part is that those people who are in the best position to prevent disaster, to tone down the rhetoric, and the personal attacks, are also the ones who are the first to say ‘it’s not that bad, is it?’

It never is, until it is.

#29 Yukon Elvis on 02.21.19 at 6:41 pm

Sad you say ? What is sad is that he got elected with a majority government with 39% of the popular vote. Elect a clown and u get a circus. Who could be surprised ?What is sadder is that he will get re-elected.

#30 Screwed Canadian Millenial on 02.21.19 at 6:45 pm

DELETED

#31 For those about to flop... on 02.21.19 at 6:50 pm

I’m only worried about what I can control.

Today I topped up my TFSA and double checked my wife was successor holder instead of beneficiary.

Yes, she was.

Good job, Flop.

Also let me see if I have the political lay of the land correct.

NDP going backwards

Liberals going down.

Conservatives shooting up to number one.

With a bullet…

M44BC

#32 HelloGarth on 02.21.19 at 6:59 pm

If I get a good return from my RRSP, what would be a better coarse of action.

Put it back in the RRSP or TFSA?

Thanks

#33 Thursty Falcon on 02.21.19 at 6:59 pm

garth..low interest rates forever because governments or the citizenry can’t afford higher interest rates? Mega Debt piling on like there is no 2030 according to AOC? Let’s enjoy the next 11 years and then see where we are!

#34 Ex-Cowtown on 02.21.19 at 6:59 pm

“Orange man bad” – Mainstream media ++++++++++++++++++++++++++++++++++

The world is changing. People are starting to realize that they’ve all been had by the MSM which has a business model based on Trump Derangement Syndrome, which comes in two flavours, anti-Trump and Pro-Trump.

People, including some politicians, are starting to wake up and realize that the media is playing everyone for their own financial gain.

Once people realize that the legacy media is about as important to their lives as National Enquirer, look out!

#35 Win not Lose on 02.21.19 at 7:00 pm

#15
The unfiltered, un-moderated alt-right-wing-nut
comments section following any online Sun News article
confirms that a future Canadian political assassination is
definitely a real possibility.

So how many alt-right-wing-nuts have been convicted for political assassinations in Canada?
0! None! Nada!

In the US? Leftist, Democrat, wannabe heroes.

And what about all those hoaxes?
Yep. Smollett and his compatriots suffering from media brainwashing by CNN, PMSNBC, etc.

#36 The Fat Lady on 02.21.19 at 7:10 pm

GOOD…….BOUT TIME.

THE KINDERGARDEN KLUB IN OTTAWA NEEDS A CLEANSING.

#37 PGer on 02.21.19 at 7:11 pm

Is that T2 taking a walk in the snow outside parliament by himself to escape the heat? Not good if there are assassins hiding in the snowbanks!

#38 Screwed Canadian Millenial on 02.21.19 at 7:11 pm

Lol Garth that comment was harmless. C’mon now. I’m not allowed to talk about Conservative tax cuts for globalist mega corps like SNC-Lavalin?

Not why it was deleted. – Garth

#39 TRUMP 2020 on 02.21.19 at 7:14 pm

TRUMP JR. FOR PRIME MINISTER !!!!

#40 Terry on 02.21.19 at 7:14 pm

“Fraud. Bribery. Obstruction of justice. Political overreach. Yikes! Canada is supposed to be nice. That Trump stuff is so icky.”

Don’t kid yourself Garth………………Canada is very far from being nice! Canada lies, steals and cheats just like the rest of them. We just know how hide a little better. Canadian politicians always tell the truth…..even when they lie!

#41 palebird on 02.21.19 at 7:16 pm

Assassination indeed..maybe character assassination..what a gigantic farce Canadian politics is, at least the show south of the border is mildly entertaining

#42 Ustabe on 02.21.19 at 7:16 pm

Did NOT see the ‘people will die thing’ coming up at all

Sen. David Tkachuk calls for convoy participants to run over liberals. That would be Harper appointed conservative Senator Tkachuk.

“Kill Trudeau” T shirts are offered for sale via links posted to r/metacanada.

In almost any Canada centric forum that allows user replies you can easily find calls for violence of multiple sorts towards the left from self proclaimed conservatives.

Scheer aligns himself with Faith Goldy and hob nobs with Rebel Media…well reported in both mainstream and partizan news.

We live in a time when its never our fault…we seek to blame others for our failings. Look around, its never faceless policy that needs addressing in a non partizan manner, it is a visible person who need to be dealt with.

Hell, look into the comment section of this blog on an almost daily basis…today’s blog on TFSA/RRSP? Well I’d better post some vitriol on the SNC-Lavalin thing.

“It’s not my fault” or “It’s so and so’s fault” are the mark of a loser.

#43 Lefty on 02.21.19 at 7:25 pm

#27 and #11.

It is not “sous”, it is “sou” – a French coin.

#44 Mexican mommy on 02.21.19 at 7:28 pm

Don’t understand the fiscal difference between successor and beneficiary-could you please explain ‘for those about to flop’?
Also, does this just apply to TFSA or is it RRSPS too?

#45 Blacksheep on 02.21.19 at 7:29 pm

Please.

It’s just an assassination, distractination…

But we can all see, it’s T2 out and Sheer in, with RE being systemically supported AGAIN, regardless of who wins, cause they all need those precious votes : )

As far as the civil servant’s dire warning: The only thing at risk of being killed in Canada, is T2 political career.

#46 AGuyInVancouver on 02.21.19 at 7:31 pm

#19 Bezengy on 02.21.19 at 6:10 pm
Canadian voters had a choice between electing an economist or a drama teacher, and they chose the latter. We now have lots of drama but no economy. Am I being too simplistic?
_ _ _
LOL “economist”, is that what we’re calling Harper now?

#47 expat on 02.21.19 at 7:34 pm

You know its bad for government when the head appratchik starts talking assassination….

If its bad for them you know it’ll be real bad for you as you provide opinion on this corruption scandal – because that is really what it is – they got caught trying to save their friends and party benefactors.

Now they think anyone who comments on this story is a killer? WOW!

BTW? – How much of a donation did SNC make to the Trudeau foundation?

Inquiring minds would like to know…

Assassination? They pulled the A card….
You know the apparatchiks and party elites are scared….

Welcome to socialism folks….
Some ARE! more equal than others……
Soon the military will be on every street corner….
But maybe not – time will tell….

#48 expat on 02.21.19 at 7:37 pm

Soviet Appratchik says mysterious people are out to get him and other politicians

Sounds like he has Maduro disease

#49 Ustabe on 02.21.19 at 7:37 pm

Decades ago, in university, I worked with a person who went further than I, gaining a couple of Doctorates and an international reputation. They have been in Ottawa working in policy for at least the past 15-20 years.

We had a brief email correspondence recently and I’ll share a snip from one of them:

I’ve seen a couple of people suggesting Fife’s lone anonymous source in the first story on this was Wilson-Raybould’s dad. Which complicates her ability to clear this up, cause dad did not/does not have privileged access to the information he shared if it was him. That narrative makes Justin’s mostly silence out to be protecting her in spite of her betrayal of confidence to her dad and Jody’s silence to be protecting herself and her dad. I’m sure Gerald was strongly advocating for SNC and all those jobs in Quebec saved for government construction projects they wouldn’t have access to for 10 years with a full conviction. I’m also fairly certain Jody and Gerald might have a different definition of just exactly where the line was Fife’s story says was crossed and very certain they’d have different opinions on just how funky SNC’s conduct was… Still way early in this story, so who knows, but this is the first version of the story that makes any sense of this mostly non-story, but losing a decent minister and your right hand guy is a pretty expensive non-story.

#50 expat on 02.21.19 at 7:38 pm

I bet Warnick retires next week…..

#51 Lisa on 02.21.19 at 7:41 pm

It’s Maxime Bernier in 2019! He makes the most sense.

https://m.youtube.com/watch?v=TIu_JBlI6PU

#52 AK on 02.21.19 at 7:41 pm

“Now, scandal and assassination talk. Did you see this coming?”
=====================================
There is no doubt that the Liberal Party will be without a status next election.

Any chance that T2 will be calling an election soon?

#53 crowdedelevatorfartz on 02.21.19 at 7:42 pm

@#38 Screwed Canadian Millenial
“Lol Garth that comment was harmless…..”

******
Garth was just screwing with you Canadian Millenial.

#54 expat on 02.21.19 at 7:45 pm

AGuyInVancouver on 02.21.19 at 7:31 pm
LOL “economist”, is that what we’re calling Harper now?

What is your point?

Other than the financial crisis he balanced the books every year.

How is your boyfriend doing?

80 billion and counting in 3.5 years

#55 JSS on 02.21.19 at 7:47 pm

Kraft Heinz cuts dividend. Yikes!
And this is one of Buffet’s companies.

https://www.google.ca/amp/s/www.marketwatch.com/amp/story/guid/14CD7CCF-BDA4-4FF6-9F80-0F7DCAEC8EF1

#56 Out Of Work CEO, Will Travel on 02.21.19 at 7:48 pm

In the states Fannie Mae and Freddie Mac lend to builders of rental properties with the consideration to encourage affordable rentals, CMHC should be out there now with all the cheap money giving the millinneals another way to form their young families with budgets to fit instead of squeezing them into homes they can’t manage to pay for down the road.

#57 For those about to flop... on 02.21.19 at 7:49 pm

#44 Mexican mommy on 02.21.19 at 7:28 pm
Don’t understand the fiscal difference between successor and beneficiary-could you please explain ‘for those about to flop’?
Also, does this just apply to TFSA or is it RRSPS too?

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

O.k, this is a sad day for this blog,but I will try to recount some financial advice.

Successor holder is better than beneficiary.

This is the main point.

It has been written about on here and maybe Long Time Lurker will help you out with the posting.

After my wife kills me by slowly giving me radiator fluid, it will be easier for her to take control of my TFSA as she won’t have to do anything and it just keeps rolling.

The other way I think it gets shutdown and you have to move it.

I don’t recall the full details as I was distracted trying to make sure my radiator fluid was kept in a secure place…

M44BC

#58 expat on 02.21.19 at 7:51 pm

#42 Ustable said In almost any Canada centric forum that allows user replies you can easily find calls for violence of multiple sorts towards the left from self proclaimed conservatives.

Bias much?

I’m sure there were Kill Harper t-shirts on your favorite websites….

How about Antifa beating and killing people in plain sight almost every week?

Enlighten us please….

Oh yeah thats right they are just reacting to right wing hate…..

To be clear – It is usually the left who incites violence… You can’t be wrong your momma told you so…

We are simply aren’t taking your lefty crap anymore….

#59 NoCash on 02.21.19 at 7:54 pm

Waste,fraud,and abuse. I am stocking up on toothpaste,toilet paper, and advil.

#60 Redeye on 02.21.19 at 7:56 pm

From what I have seen the left is more likely to resort to violence than the right. Look at those nutty left wing Antifa clown.

#61 Raging Ranter on 02.21.19 at 7:57 pm

This will not sink Trudeau any more than the GroupAction revelations in the fall of 2000 sunk Chretien. (They didn’t.) The Globe and Mail first broke that story too – I believe it was Stewart Bell who wrote the first investigative piece.

Five years later that same kick-back scheme would blossom into “Adscam” – named that by Andrew Coyne. But it took that long to blow up. The Liberals, with their firm grip on all the levers of government, managed to suppress it for 5 long years.

Why would we expect anything different this time? Trudeau will run a fear campaign, just like the Libs in 2000 and 2004, and it will work. Only when the stench of corruption and collusion becomes so obvious and so obnoxious that it can no longer be ignored by any sentient being will voters turn on the Liberals in sufficient numbers. We’re not there yet. Not even close.

#62 Lesley on 02.21.19 at 7:57 pm

#32 HelloGarth on 02.21.19 at 6:59 pm
If I get a good return from my RRSP, what would be a better coarse of action.

Put it back in the RRSP or TFSA?
____________________________________________

Are you talking about your rate of return earned in the RRSP? If you take the gains out they’ll be taxed?

#63 White House Adult Daycare Worker on 02.21.19 at 7:58 pm

Please help us!!

We are desperately in need of adult supervision at the White House.

This Gerry Butts fellow sounds like a terrific guy, and we hear he is now available. If any of you are talking with him, please tell him to call us right away.

202-456-1414

https://www.whitehouse.gov/get-involved/write-or-call/

#64 AB Boxster on 02.21.19 at 8:10 pm

“I worry about the rising tide of incitements to violence when people use terms like ‘treason’ and ‘traitor’ in open discourse. Those are the words that lead to assassination. I’m worried that somebody’s going to be shot in this country this year during the political campaign.”

Um no..

Words do not lead to violence and talk of treason.
Dispicable leadership and governance does.

T2 is certainly the most divisive PM this country has ever had. T1 is a close second.

What leader has actively sacrificed the jobs and livelihoods of hundreds of thousands of people, in order to placate his favorite province of Quebec or to virtue signal that he can save the world from the effects of evil energy?

While 150,000+ high paying jobs are lost in Alberta, T2 frets over a lousy 2000 jobs lost at GM. A complete and utter disgrace of a PM.
A leader that will take massive unethical measures to protect corrupt companies such as SNC, so as to preserve jobs in the glorious La Belle Provence, all the while enacting legislation to kill more jobs in Alberta.

What leader risks the dissolution of a country in order to rob the wealth of one region in order to prop up the pathetic regions.

Outrage, anger, frustration, and outright hatred and bitter language are not created from nothing. They are the result of unfair , hypocritical actions of leaders that are enacting policies that actively harm Canadians in one specific region of the country.

Hard working proud Canadians that have lost their livelihoods, their savings, their homes while the joke of a federal government puts more policies in place to kill our industry.

I guess they should all just thank him for being so darn pretty, and celebrate that ‘Canada is back!’

“Thank you sir, can we have some more.”

Sorry, I don’t think so.
T2 is worse than his father who sowed the seeds of Quebec separation.
He has sown the seeds of western separation.

Canadians do not easily rise to using such language and express hatred towards others. It takes a lot of incompetence and destructive policies to anger a region that just wants government to leave it alone so it can conduct it’s business and sell its products and services to willing global customers.

The Liberal idiots should examine why such radical language is being used against their government and their leadership, rather than decrying the language.

It’s unlikely though. This leader and government are so invested in the utter goodness and righteousness of their idealogical dogma, that self reflection is unknown to them.

#65 acdel on 02.21.19 at 8:21 pm

It is sad that a comment that was said. We are Canadians and usually reach a compromise. There is alot of anger out there but lets not go there. But dam, politicians need to listen to the general public instead of preaching there condescending views.

The problem is the hypocrisy, lies, and the condescending attitudes the politicians spur and especially the special interest groups that force down our throats there juvenile stupid ideologies!

Special interest groups why don’t you buy your own special little Island, live the lives that you want and see how long you last! You will not, and that is the point! By all means prove me wrong, you will not!

#66 JacqueShellacque on 02.21.19 at 8:23 pm

“I worry about the rising tide of incitements to violence when people use terms like ‘treason’ and ‘traitor’ in open discourse”

Total b.s. Someone, anyone, show me a single example of someone outside the clogged sewer that is Twitter saying anything approaching this.

#67 Mattl on 02.21.19 at 8:23 pm

Home Outfitters, Payless both gone last few weeks. December same store sales negative. Car sales down.

There is a serious decline in consumer spending. Recession imminent, book it. There was no scenario where by housing would pop and consumer spending wouldn’t tank.

RE Doomers careful what you wish for, your jobs are not safe.

#68 Knee Shaker on 02.21.19 at 8:26 pm

Estimated $ 400 K drop on a house in Vancouver by a real estate company suggests to me that the data shows that the market has rolled over and that folks in the know expect that houses will not attract any buyer attention at all unless they are listed/ offered up at rock bottom prices. This is when the rich get richer and the poor get poorer.

#69 crowdedelevatorfartz on 02.21.19 at 8:29 pm

@#28 Smartalox
“Posters seethe here daily about politicians instead of parties and platforms.”

+++++
MacLean’s magazine did a nation wide poll about 20 years ago and the Pollsters were astounded by the levels of fury they received in the responses and interviews.
People were very very angry.
Today?
Much much worse and scandals like SNC , J W-R , Butts, Brison, BMO,…… aint improving anyone’s mood.

#70 Yuus bin Haad on 02.21.19 at 8:33 pm

TwinleToes doesn’t seem to be fairing so well without Seymour behind him (although I wonder if his Butt’s still begin covered).

#71 Political Shame on 02.21.19 at 8:34 pm

What bothers me the most was the mere suggestion of the ‘word’ on tv and the internet by a politician. We have these drug induced hoodie characters that might get them thinking about such a future event to obtain their 15 minutes of fame or to advance an agenda. A lot of them are gamers competing with each other in fiction video killing platforms. Reality is their ultimate high, and too dangerous for us all to ponder.

#72 Ustabe on 02.21.19 at 8:34 pm

#58 expat on 02.21.19 at 7:51 pm

We are simply aren’t taking your lefty crap anymore….

I hold Progressive Conservative membership cards from the 70’s through to when Peter sold it out.

I was actually an employee with Grant Devine’s provincial PC party in the 80’s. Did rural outreach and bagman stuff out in the hinterlands.

My bona fides blow your constipated bravado out of the water.

As long as modern conservatives feel the need to personally attack/refute/denounce anyone proposing any thought that does not exactly conform to their alt-right marching orders is as long as the CPC will be out of office.

Ford is stumbling from one patronage and good old boy scandal to another, Kenny’s UPC is in disarray and Scheer chooses to align with the racists in that convoy and the Nazi known as Faith Goldy…pick your side carefully but remember, in Canada few hold extreme positions on almost all matters that seem so important to those on the right, especially the far right.

Lastly, its 12 year olds who trot out the your momma memes. My mother was a national President of the Canadian Women’s University Society, a founder of SCEP, a clinical psychologist with her Doctorate and a partnership in a significant clinic at a time when women were supposed to be school teachers, shop clerks or married at home. She also was the best water skier I’ve ever seen outside of competition, could drink most men under the table (vodka martinis) and smoked Sweet Caporal plain ends. You can bet your ass I’d be listening to her if she was still with us.

#73 crowdedelevatorfartz on 02.21.19 at 8:56 pm

@#67 Mattl
“RE Doomers careful what you wish for, your jobs are not safe.”
++++

My job is safe and if the RE meltdown free’s up some bonafide tradesmen that I can immediately put to work…..
Oh baby, sky’s the limit at what I can do.

#74 George on 02.21.19 at 8:57 pm

…and Timmy did you just prove yourself clever by saying what you said?

#75 Borden Renter on 02.21.19 at 8:59 pm

#64 AB Boxster on 02.21.19 at 8:10 pm

[I]Words do not lead to violence and talk of treason.
Dispicable leadership and governance does.

T2 is certainly the most divisive PM this country has ever had. T1 is a close second.

What leader has actively sacrificed the jobs and livelihoods of hundreds of thousands of people, in order to placate his favorite province of Quebec or to virtue signal that he can save the world from the effects of evil energy?[/I]

———————————————————

I basically came here to post what AB boxter just wrote. Well said, Sir. You’ve had less to drink than I have, and you’ve saved me the work, but allow me to ramble…

Did *I* see this coming? Yes. As soon as I heard Trudeau was running for MP, I knew it was only a matter of time until he coasted into the PM’s spot in a few years, once the flunkies had run the course of their campaigns. Do you guys remember Stephane Dion? I can’t believe the Libs actually ran with that guy. The Libs had few people of substance or vision, and none of them with the star power of Trudeau, so it was a foregone conclusion then, that he would rise to prominence. Not too difficult when him and Iggy had the personalities of 30 year old wallpaper.

T-2.0 is as divisive as they come, and people are talking western separation like I haven’t heard since the mid 2000’s. I could tell from his speech and his mannerisms that he would be ineffective and childish, and once Gerry Butts flew the coop from Toronto to Ottawa, “Ontario on a larger scale” was only a matter of time, “because it’s 2015”. Combine that with Lib failures on election reform, trade in China/India/the US, to name but a few, I no longer worry about any future liberal-made laws, as they are too incompetent to get anything done.

The only real issues at play are 1) how long will it take to undo the damage? and 2) are there enough Canadians silly and unobservant enough to actually vote for these people again.

My hope is that the federal Liberals will suffer the same fate as the Ontario liberals. Maybe near annihilation will be required to clean house, and they can come back in time once the Conservatives turn crooked, with a leader of substance who can offer something more than simply virtue signalling for the world with money they forcibly take from us.

One can hope.

#76 Sail away on 02.21.19 at 9:00 pm

How could anyone here be a traitor? What secrets does Canada hold that anyone would even care about?

Wernick is probably correct that someone, somewhere in the country will be shot during the political campaign. Probably highly unlikely to have any connection to the campaign, though- more likely a misidentified moose.

#77 ImGonnaBeSick on 02.21.19 at 9:02 pm

#44 Mexican Mommy – here’s a list;

RRSP – beneficiary
RRIF – successor annuitant
TFSA – successor holder
In-Trust – beneficiary

#78 DON on 02.21.19 at 9:05 pm

SAD is right.

‏SteveSaretsky
5h5 hours ago

No wonder TD Bank is now being forced to stress test HELOC’s. They own about 39% of national HELOC debt outstanding. RBC a far second at 18%.

TD’s head of personal banking isn’t satisfied, wants more HELOC growth. “We are below our embedded growth opportunity in that product in particular, so I continue to feel comfortable that on a relative basis we’ll have pretty good growth.”

#79 Smoking Man on 02.21.19 at 9:08 pm

Sad indeed.

I read what Michael Wernick said, absolutely deplorable. My take, his words is an official first move for a huge purge of conservative facebook and twitter accounts leading up the Oct election. He made many references to T2 bashing twitter accounts.

People who are conservative have characteristics of level-headedness, lawfulness and are extremely logical. You never see one screaming at the moon or acting insane.

Liberals can be described as playing dirty, win at all costs, driven by emotion and own a complete lack of deductive reasoning skills. They get sucked in so easily to please their fellow like-minded herd. Easily swayed and controlled.

Take climate change for example. They believe that sea levels are rising, they are not. They think the earth is heating up. It’s not. look at this winter, snow in Bullhead Arizona. never happened before.

T2 and his band of trust boy elites don’t give two shits about blue collar workers, they despise oil workers and miners. They can’t hide it, it oozes out of every sentence they put together.

When a reporter shows up on Butts doorstep to ask a few questions MSM went nuts, how terrible it was. Meanwhile, poor Rob Ford had these vicious animals outside his house every day hassling him and his family.

If anyone is going to get shot at its conservatives.

The modern left has gone completely bonkers. From grassroots all the way up to corporate board rooms.

#80 For those about to flop... on 02.21.19 at 9:09 pm

Pink Snow falling in North Vancouver.

These guys in North Vancouver are back from another crack, they’ve got a tiny bit of breathing room but the market is running out of air.

The details…

4300 Starlight Way, North Vancouver.

Paid 2.28

Originally asking 2.98

Now asking 2.39

Assessment 2.39

So I had a few sales the last couple of days but no details have come through.

Are these phantom sales as discussed last night, or is a repeat of last month on the cards where The Sell Squad appeared to hoard sales the last half of the month and then do a data dump right at the end of the month to make things look better?

It’s their game.

It’s their rules.

All I can do is keep loading up rocks in my slingshot in an attempt to keep a giant in order…

M44BC

https://www.zolo.ca/north-vancouver-real-estate/4300-starlight-way

https://www.rew.ca/insights/30412/4300-starlight-way-north-vancouver-bc

#81 Drill Baby Drill on 02.21.19 at 9:12 pm

Lack of Leadership at the top produces stupid talk from the PMO such as we heard today. Selfie Boy is Toast. The powers that be within the LPC will not put up with the drop in polls, monetary donations and piss poor government management for much longer. I predict a Leadership review before May.

#82 not 1st on 02.21.19 at 9:13 pm

Everyone and their dog could see that the liberals were rank amateurs with a Marxist bent. Trudeau is the perfect Manchurian candidate.

#83 Ronaldo on 02.21.19 at 9:15 pm

Mr. Wernick ought to be careful what statements he makes because some whacko may take him up on it. What a gong show. Is that Jody sitting out there in the snow?

#84 DON on 02.21.19 at 9:15 pm

#24 dakkie on 02.21.19 at 6:34 pm

Forced End of “Ponzi-Like Leverage” & “Fraudulent Lending” Turns Australia’s House Price Bubble into “Property Bloodbath”

https://www.investmentwatchblog.com/forced-end-of-ponzi-like-leverage-fraudulent-lending-turns-australias-house-price-bubble-into-property-bloodbath/
****************

Thanks for the link dakkie. A good read, especially the following.

“The financial regulators, APRA and ASIC, have now been sufficiently embarrassed by the findings of the RC to force banks to adhere to responsible lending obligations,” writes Lindsay David, of LF Economics, in a report on the headwinds that the market and the banks face in 2019. The regulatory crackdown “restricts lenders’ ability to conduct business as usual,” he says, and this has “resulted in a credit squeeze.”

Speculative investors who purchased more recently have been impacted the most. Some of them may try to sell either because they fear further price drops, or because they “have been caught out in the tsunami of IO [Interest-Only] loan resets.” But selling at survivable prices will be tough, as buyers at those prices have evaporated, “primarily due to stricter loan serviceability requirements,” as a result of the regulator crackdown, writes Lindsay David who has for years been warning about mortgage fraud and the now unfolding housing bust in Australia.

“These developments risk turning the current minor credit squeeze into a looming credit crunch,” he says in the LF Economics report.

The “so-called ‘property bloodbath,’” he writes, “is the inevitable outcome of the irrational exuberance driven by debt-financed speculation that has seduced and mesmerized a large proportion of society into becoming over-leveraged.”

#85 ImGonnaBeSick on 02.21.19 at 9:18 pm

#72 – Ustabe.. jeeeezus.. get this guy a puppers..

#86 DON on 02.21.19 at 9:23 pm

#30 Screwed Canadian Millenial on 02.21.19 at 6:45 pm

DELETED
**************

Whadda she say?! Whadda she say?! (he?)

On second thought – thank you.

Time to buy Popcorn ETFs?

#87 David McDonald on 02.21.19 at 9:23 pm

SNC-Lavalin is one of our few Canadian champions able to play hardball against international competitors. Trudeau should have just stood up and said a slap on the wrist and a fine is enough to satisfy propriety. A forceful public declaration would have given the justice minister cover and turned the whole affair into a non story.

I also wish some forceful action could be taken on the pipeline file. Alberta is slowly dying and nothing is happening.

#88 not 1st on 02.21.19 at 9:25 pm

#72 Ustabe on 02.21.19 at 8:34 pm

I think you should have lunch with the privy council. Topic: fearmongering 101.

Trudeau has selfie photos with some of the most despicable people. His daycare cabinet regularly tweet race baiting slogans and shame the rest of Canada.

#89 TurnerNation on 02.21.19 at 9:25 pm

Newsprint is dying even online. Most of this stuff is made up to sell clicks. I tune it all out and suffer none.
…..

#1 TurnerNation – (slow night replying to my own post).
First, congrats on being furrrst. Parent company HBC, and Ikea, Canadian Tire et al, are offering reasonable home delivery. Versus filling up gas tank, cleaning car of snow, then fighting traffic jams, parking spots.
Plus the dedicated online shops like Amazon, wayfair.ca, and why do we need anachronistic bricks and mortar? That got ditched at the new centennial, said the Millennial.

#90 Smoking Man on 02.21.19 at 9:30 pm

No need to shoot T2 he just committed suicide.
Excerpt from the globe and mail.

“According to a source with knowledge of the cabinet discussions, Ms. Wilson-Raybould said the director of the prosecution service rejected a negotiated settlement with SNC-Lavalin based on how the law applies to the company’s case. The Liberal government had changed the Criminal Code to allow for deferred prosecutions in which a company admits wrongdoing and pays a fine, but avoids a trial. Under Canada’s new deferred-prosecution agreement law, prosecutors are not allowed to consider national economic interests when deciding whether to settle with a company.

Mr. Trudeau has acknowledged he raised concerns about the economic impact that a conviction could have on SNC-Lavalin when he met privately with the then-justice minister and attorney-general on Sept. 17, two weeks after the director of public prosecutions decided to move toward a trial.

The fact that prosecutors had already informed the Quebec company of its decision before the meeting between Mr. Trudeau and Ms. Wilson-Raybould meant the only remaining question was whether the attorney-general would override federal prosecutors and publicly instruct them to cut a deal.”

#91 AfterTheHouseSold on 02.21.19 at 9:31 pm

#46 Remembrancer (yesterday but on topic today)
“I’d suggest waiting for the National Enquirer to verify”
Re: Link posted by #8 Ray Skunk
(Brison, BMO, Kinder Morgan pipeline, Morneau, Gerald Butts)

I’m a proponent of a “kernel of truth”; an element of truth within a greater story when most or all other elements are of questionable veracity. I think that kernel of truth lies with BMO; that they were in serious trouble and lobbied the government to make the problem go away.

My interest was peaked by a comment by Dave A that followed the story:
“According to Globe & Mail, Evan Siddall, CEO of CMHC, helped broker the pipeline deal with Kinder Morgan because
a) he is a long-time friend of Bill Morneau
b) used to be a CEO of an Cdn oil-patch company
c) used to work for BMO as investment broker.”

Take note of Siddalls connections to CMHC, BMO and Morneau. The Globe story stated that Mr Morneau leaned heavily on CMHC head Evan Siddall.

Brison who is the star witness for his role in the upcoming Aug trial of Vice-Admiral Mark Norman, resigned abruptly from the liberal government. After all, can’t have a sitting member embroiled in a scandal during the election campaign. He needed a new job.

Shortly afterwards a BMO news release announced Brison as Vice-Chair, Investment and Corporate Banking. Of all the qualified candidates that could fill such a position, one might think that BMO would steer clear of filling the post with a person at the centre of a national scandal. But no, nothing to see here.

The story states that BMO banking executives lobbied Morneau to buy Trans Mountain, effectively nationalize the pipeline which would make the problem of potential bribery, fraud, corruption charges go away. We don’t know if that’s what happened but we do know that on May 29 2018, the government announced the purchase of the pipeline for 4 billion dollars.

That’s a lot of money to come up with. It’s not like, out of the blue, four billion dollars just drops in your lap. Well, not if you don’t count that one time, a year earlier. In May 2017 CMHC announced it would pay a one-time special dividend of 4 billion dollars to the federal government.

They would also begin paying regular quarterly dividends of $145 million saying CMHC has excess capital above its required targets. How generous. CMHC has historically retained all of its net income as capital and has not paid dividends since its creation in 1946.

How fortuitous that this money should happen along right when its needed. Now a cynical person might start jumping to conclusions, start wondering if something underhanded was going on like the story suggested. Like:

Did Gerald Butts arrange that plum BMO position for Brison in exchange for his resignation before the trial?

Did BMO agree to hire Brison as a token thank you gesture?

Was this why Gerald Butts resigned?

Was the CMHC dividend payment to government just a timely coincidence?

It’s probably nothing, never mind.

#92 not 1st on 02.21.19 at 9:34 pm

People resort to divisive language when they feel powerless and their concerns are not being addressed. Its simple frustration, nothing more. And Trudeau has pushed more people to the brink than any other PM in history hence the blowback.

Our democracy is a pale comparison to the US where they have governors elected every 4 yrs opposite the president. There are always referendum questions with your ballet so you can voice your opinion at many different points in the cycle. We have nothing like that here. Its basically a four year dictatorship here.

#93 Ronaldo on 02.21.19 at 9:41 pm

#11

Sous currency

The last coins and notes of the livre currency system were issued in Year II of the Republic (1794). In 1795, the franc was introduced, worth 1 livre 3 deniers (​1 1⁄80 livres), and the first one-franc coin was struck in 1803.

#94 k on 02.21.19 at 9:43 pm

Hey Garth . Common sense (not so common these days) as usual from you. I’m glad I’m old (62) Retired since 51 living in Southern California 6mo. in the winter for the last 11 years . Sold Vancouver property and added to the pile in the bank ! I know ….way too conservative ! But hey ….2 million at 3% ain’t so bad ! See what happens .

#95 Tony on 02.21.19 at 9:54 pm

Re: #1 TurnerNation on 02.21.19 at 5:18 pm

You forgot Payless Shoes is closing all 248 stores in Canada.

#96 acdel on 02.21.19 at 9:55 pm

Great post Garth, you have the knack of posting serious issues without preaching; most of us know and appreciate it, (no, not sucking up) just saying a great big thank you to and your team for making a difference out here and putting up with all of our different views.

I am old school, I like Flops and the imaginary Smoking Man ( J.D. gambling alien author) posts, they say it like it is amongst a few others others that I enjoy.

We are all a lucky group! The point is that we are Canucks and can appreciate, agree or disagree without causing physical harm, what a irresponsible comment Wernick said.

Say thanks to the host once in awhile!

#97 Randy on 02.21.19 at 9:55 pm

Don’t ask for accountability or transparency…you will cause assassinations…bahaha….a new twist on political correctness….to shut you up…

#98 X on 02.21.19 at 10:00 pm

Please no for the 30 year mortgages again. I think the mushrooming HELOC’s shows Canadians have no clue about debt or repayment.

Also please no on the possible 1 million CMHC cap change. Why should the average Canadian have to backstop an above average home financing.

An enriched tax credit for home closing costs…all that does is make the average home go up that much more.

I could live with a reduction in the stress test cap, now that rates have risen a little. Perhaps a little more in April. So a cap of 1% over the 5yr rate, by the time actually introduced, would basically have the cap around where it is now, give or take. Sounds like they would be helping people buy homes if they were to cap the stress test at 1%, but really they would be just keeping the same bar to surpass, when the rate increases are factored in.

#99 For those about to flop... on 02.21.19 at 10:01 pm

Recent sale report.

I made to comment the other day that not much has gone below 1.15 in South Vancouver and this one is a bit shocking as to how low it went for.

The details…

6414 Chesterfield st,Vancouver.

Sold 1.00 February 2019

Originally Asking 1.38

Assessment 1.43

So this is another house I have physically walked by, being in my hood.

It went 30% less than assessment.

I guess the main reason I was surprised how low it went for was because the amount paid for condos in an old building nearby.

Different beasts, different demand.

Had a few go around 1 million in South Vancouver, most notably the liveable one on Inverness that went for 1.02.

A few more sales before I’ll state that’s were the market is.

One sale gets my interest.

Two sales and we might have something.

4 or 5 sales of around the same number and we are onto something at the very start.

Not large numbers but with the lack of general sales and trying to be at the forefront of something you have to ring the bell early.

I’ve got the hammer ready…

M44BC

https://www.rew.ca/insights/137389/6414-chester-street-vancouver-bc

#100 DON on 02.21.19 at 10:04 pm

#67 Mattl on 02.21.19 at 8:23 pm

Home Outfitters, Payless both gone last few weeks. December same store sales negative. Car sales down.

There is a serious decline in consumer spending. Recession imminent, book it. There was no scenario where by housing would pop and consumer spending wouldn’t tank.

RE Doomers careful what you wish for, your jobs are not safe.
*************

What a load of BS.

It WAS INEVITABLE and no amount of RE doomerism (or shall we call it realism) was close to being the final straw that broke the camel’s back.

“Careful what you wish for”…makes no sense as the trajectory was put in motion when things became overly stupid in terms of UN-affordable prices. Yes this will affect everyone some more than others.

YOU were warned.

#101 Joe on 02.21.19 at 10:05 pm

spell checker is required on this blog
you have:

Scheer is trending
should be

Scheer is bending!

#102 Ace Goodheart on 02.21.19 at 10:21 pm

Wilson-Raybould may have to go into witness protection.

When you have the clerk of the privy counsel basically admitting that three senior government officials, including himself and the Prime Minister, tried to convince her to scuttle the SNC prosecution, after the decision to prosecute had already been made, and she is still like “I need to speak my truth”, you have a potential for someone to get hurt.

She doesn’t need to waive solicitor client privilege as much as she needs a 24 hour body guard.

Some big money has changed hands here. The PM of a Western developed country doesn’t call up the Justice Minister and tell her to call off the prosecution of a large multinational company, for no reason.

The whole “Fiberal” garbage of them trying to save jobs is just so much bull that it is hard to understand why they think anyone would buy that. Somebody got paid and the fix was put in.

I mean, T2 fired Wilson-Raybould when she wouldn’t dance the dance he had asked her to. She was fired. She did not quit. She quit after she had already been demoted (ie, fired) from her job and replaced with a person who openly admits to the media that he would consider a the SNC deal which Wilson-Raybould would not consider.

She needs a body guard. Or witness protection. Solicitor client privilege is the least of her problems right now.

#103 acdel on 02.21.19 at 10:35 pm

Lisa Helps, mayor of Victoria.

I commend her, whatever her views will be after her tour. At least she made an effort to truly understand what is actually happening in Alberta. So many have no idea that we are light years ahead, perhaps she may learn a new perspective, kudos to her, which ever way it turns.

https://www.cbc.ca/news/canada/calgary/calgary-alberta-oilsands-victoria-mayor-visit-1.5028605

#104 HelloGarth on 02.21.19 at 10:38 pm

@Lesley

No, I had to contribute to my RRSP due to liquidation of a mutual fund from the bank, topping up, and transferring to a self directed electric broker account. I am going to claim what I contributed, so most definitely I will be available for a return.

Which one would be better?

To put the money back in the RRSP or into the TFSA?

#105 toronto1 on 02.21.19 at 10:39 pm

more to the SNC- Butts resignation then meets the eye

T2 is too smart to get personally involved in these matters- he needs plausible deniability in these scenarios so i believe him when he says he was not involved- besides he pays people to deal with issues like this………

Butts on the other hand is his right hand man- the muscle if you will- appointed not elected so disposable if the circumstances warrent- no doubt that the he was in some way shape or form wither directly or indirectly involved in some type of shenanigans ………. the fact that he resigned says the story is bigger then what is currently in play.

story seems like a stretch……. get one cabinet minister a cushy job as a VP- leaving an opening, thereby giving the govt a reason (cover) to remove the another and re assign her to a different portfolio…….. all in an election year…… that minister then resigns and lawyers up the day after T2 says all is well…….

hey coincidences do happen…..sure…….

but that is a lot of chess pieces to move on the board for a simple exchange of pawns……

#106 Chopping Broccoli on 02.21.19 at 10:57 pm

This is a easy fix.
30 year mortgages for anyone between 30 – 40.
25 year for 40 years and up.
Those under 30 wanting a mortgage can get their age less 70 year mortgages.
Example: a 25 year old could get a 45 year mortgage,

#107 Vision on 02.21.19 at 11:10 pm

“ a plan to help pay for everybody’s prescription drugs, ”
——————
Is T2 trying to give insurance companies a break?
I cringe at this thought..
I see daily, how seniors waste medications because it is free. Some fill their prescriptions but not take them, because they are worried their doctors will get angry if they do not fill . Or if a medication dose gets changed, the other gets thrown out because it is free. Or overprescribing by the MD s because it is free for the patient. Or selling some meds on the Street to make some money for prescribed illicit drugs. Sometimes less is more, in terms of reducing a patients medications. Many seniors are taking too many meds and are having side effects as a result. It is easier to add a med than to take away.
If all meds are free to all, who pays for it?
I hope T2 is not re-elected. It would be a total disaster. God help Canada.

#108 David Driven on 02.21.19 at 11:18 pm

I did say that Trudeau would kill Canadian democracy by any means many times. The globalist game to murder western civilization by the the likes of an angryreligion dominated the UN and the ghouls of cheap labour like Soros, obama and the lickspittle Nazi liberals that promote Jew Hate and socialism with any kind of leftist uprising that doesn’t include any reduction in civil service union power.

Trudeau needs to break Canada’s hold on democracy. He’ll import bodies until he dilutes Canadian opinion. Trudeaus handlers handlers will kill kill Canadians savings in order to subjugate people into accepting handouts, like more baby bonus money and free credit. Let’s face it, people are stupid, poor people are stupider.

Our media hides stories about corrupt dictators in Venezuela Iran China and Cuba so that Trudeau doesn’t look the same by comparison. Corruption fraud theft threats treason collusion foreign bribery . It’s worse in Canada than ever. Yet , people aren’t marching in the streets? Like I said, people are stoooopid!

#109 fishman on 02.21.19 at 11:25 pm

Bill Wilson? undergraduate at UBC. Smart,math,science stuff, good marks, happy guy, kinda of a joker. He told classmates to work hard over the summer to pay for his education.Not that it mattered cause we made so much money in the summer fishing, logging or mining never borrowed a sous from anyone including parents.
Bill graduated from UBC with a law degree & a masters in radicalization. When invited to the Bar he wrote them a letter saying he wasn’t going because the next war would be fought in the courts & he wasn’t on their side.
Bill was a hereditary chief from Cape Mudge. Lotsa tribes & lotsa chiefs out here. Only one war chief. Only one Crazy Horse, & that was Bill Wilson. For all the B.C. Indians.
The war started when Sparrow took his kid fishing in front of the village & caught 16 sockeye for a family barbecue & Fisheries charged him. We got pulled in by the time it hit B.C. Appeal court. By 86 I was one of a few bagmen whose name was on the accounts the lawyers fees were coming out of. Fighting the Indians with Bill Wilson their war chief. Appeals, B.C Supreme, Federal appeals, Canada Supreme. Win , lose, win, you all know the script. Three decades & the last one just finished Ahousat . And we all know the endings. We lost. We made the laws while we lost.
Hey, you guys back in Ottawa used to laugh at us when we made our yearly pilgrimage for support & sympathy. Usually in the off season around this time of year too.
Bill trained his daughter up pretty good. Bet your all getting a good chuckle when she shows up at your Liberal Quebec Inc. soiree’s now eh?

#110 ww1 on 02.21.19 at 11:28 pm

#44 Mexican mommy on 02.21.19 at 7:28 pm
Don’t understand the fiscal difference between successor and beneficiary

Hmmm.. first google hit on your question : TFSA Beneficiary Rules

#111 Notagreaterfool on 02.21.19 at 11:29 pm

Brison story

https://buffalochronicle.com/2019/02/19/scheer-wants-bmo-and-treasury-official-questioned-in-snc-lavalin-probe/

#112 Risktopia on 02.21.19 at 11:31 pm

There’s enough division in the world. Let’s remember what we all stand together for.

https://www.risktopia.com/2019/02/america-cannot-be-zero-sum-game.html

#113 crowdedelevatorfartz on 02.21.19 at 11:57 pm

@#87 david macdonald
“SNC-Lavalin is one of our few Canadian champions able to play hardball against international competitors……

++++++

“Champions”?
Is that what were calling a company that has been BANNED from bidding on World Bank funded contracts for 10 YEARS for egregious bribery?

“Champions”?
Is that what we call a company that is facing bribery charges in the “Libya Affair”?

“Champions”?
Is that what we’re calling a company that defecated in it’s own back yard with the Montreal “Super Hospital” contract?

My God.
Does snow exist in Hell?
Because , in your world Black IS white…..

‘Champions”……makes me want to vomit.

#114 Nonplused on 02.22.19 at 12:13 am

I’m going to play my “Fake News” card. Some Wernick talking about someone getting shot is just even worse fake news than a Trump tweet. It means nothing. Somebody could get shot at any time. Crazy never rests, it never sleeps, and it never reflects. So some Wernick saying their might be a crazy person out there is about as much news as saying you should change your oil every 5000 km.

#115 TurnerNation on 02.22.19 at 12:13 am

#49 Ustabe – What a facinating writing style that email. It is dipped in brevity, wholly possessive, metered, without extraneous words. Dunno what it is. English majors?

#116 Long-Time Lurker on 02.22.19 at 12:17 am

#44 Mexican mommy on 02.21.19 at 7:28 pm
Don’t understand the fiscal difference between successor and beneficiary-could you please explain ‘for those about to flop’? Also, does this just apply to TFSA or is it RRSPS too?

>Hi, Flop. MM, find this:

https://www.greaterfool.ca/2018/12/18/the-gift-3/

The gift
December 18th, 2018

…In fact, when you get to be an oxygen-sucking, Depends-wearing, walker-grasping wrinklie, the TFSA party can continue. RRSPs expire at age 71 and must be turned into vehicles throwing off fully-taxable income. But TFSAs are timeless. Contributions and untaxed withdrawals can continue until you drop, then your spouse can take over the account and use it to impress her new boyfriend. Just ensure your partner is listed as the ‘successor holder’ since being a ‘beneficiary’ means current assets must be sold (and then transferred to his/her plan, without tax)…

By the way, Buffett bought Suncor. Look it up.

The problem with T2 is that he keeps acting like he’s guilty. What am I supposed to think?

#117 Dolce Vita on 02.22.19 at 12:31 am

Thank you for that Garth.

Not sad what you had to say at all; rather and in an odd way, comforting.

#118 Tom on 02.22.19 at 12:49 am

Govt debt?
Whateves.
What’s your opinion on MMT?
Interesting Ezra Klein podcast just out…

#119 After Communism on 02.22.19 at 1:08 am

“somebody’s going to be shot” is from the same guy who is accused over the Lavelin case. He is playing “poor me” the victim game, typical of liberals.

https://winnipegsun.com/opinion/columnists/canadas-top-bureaucrat-made-a-fool-of-himself

Wernick insists he wasn’t trying to get her to change her mind. He was just trying to make sure she had all the right information.

“I was informing the minister of context,” said Wernick. “She may have another view of the conversation but that’s something that the ethics commissioner could sort out.”

#120 Where's That $4 Billion Greedeau? on 02.22.19 at 1:12 am

Re: #91 AfterTheHouseSold on 02.21.19 at 9:31 pm
#46 Remembrancer (yesterday but on topic today)
“I’d suggest waiting for the National Enquirer to verify”
Re: Link posted by #8 Ray Skunk
(Brison, BMO, Kinder Morgan pipeline, Morneau, Gerald Butts)

I’m a proponent of a “kernel of truth”; an element of truth within a greater story when most or all other elements are of questionable veracity. I think that kernel of truth lies with BMO; that they were in serious trouble and lobbied the government to make the problem go away.

My interest was peaked by a comment by Dave A that followed the story:
“According to Globe & Mail, Evan Siddall, CEO of CMHC, helped broker the pipeline deal with Kinder Morgan because
a) he is a long-time friend of Bill Morneau
b) used to be a CEO of an Cdn oil-patch company
c) used to work for BMO as investment broker.”

Take note of Siddalls connections to CMHC, BMO and Morneau. The Globe story stated that Mr Morneau leaned heavily on CMHC head Evan Siddall.

Brison who is the star witness for his role in the upcoming Aug trial of Vice-Admiral Mark Norman, resigned abruptly from the liberal government. After all, can’t have a sitting member embroiled in a scandal during the election campaign. He needed a new job.

Shortly afterwards a BMO news release announced Brison as Vice-Chair, Investment and Corporate Banking. Of all the qualified candidates that could fill such a position, one might think that BMO would steer clear of filling the post with a person at the centre of a national scandal. But no, nothing to see here.

The story states that BMO banking executives lobbied Morneau to buy Trans Mountain, effectively nationalize the pipeline which would make the problem of potential bribery, fraud, corruption charges go away. We don’t know if that’s what happened but we do know that on May 29 2018, the government announced the purchase of the pipeline for 4 billion dollars.

That’s a lot of money to come up with. It’s not like, out of the blue, four billion dollars just drops in your lap. Well, not if you don’t count that one time, a year earlier. In May 2017 CMHC announced it would pay a one-time special dividend of 4 billion dollars to the federal government.
+++++++++++++++++++++++++++++++++
That says it all right there.
The “Smoking Gun”!
I’m sure the US knows all about this right now and are just waiting to see who they can to get their bidding for the next four years so they won’t prosecute.
That person will be the next Prime Minister of whatever stripe,
while the taxpayers get sold down the road. They don’t have to Venezuela us, we give it away!
I can see why the US hasn’t taken us over, they get what they want and don’t have to pay any social costs of a slave wage colony.
Just perks to the profitable US companies.
A friend has profited and excelled living in Canada, but by working for a US subsidiary, for lower wages than the US, but big bucks here, that are taxed to the moon.
Pity. That’s right it is a pity that Canadians can’t excel and profit here, all because of sleaze bags in all gov’ts.
I found out that the municipality of Maple Ridge’s infrastructure is very different in quality than the degree they impose on developers.
Got it from an insider who does work for them.
If it’s a developer, they have to bury all utilities underground, but if the city has to fork out the coin, it’s all above ground. This causes all sorts of power disruptions because, you know, Maple Ridge has a lot of tress that fall on power lines.
Also conversed with another telling me they have had to move a fire hydrant 4 times now since the city can’t make up their mind on where to put it, because they’re too dense to figure it out first. They seem to miss the designated mark by inches every time. So jack hammer it out (3 guys and machinery), get the other trade to move it (another 3 guys and machines) and then the city comes back to smooth concrete, only to repeat 4X! And guess who pays-developers, hence the condo owner right after they move in, with a special assessment in the thousands.
Robbery without violence.

#121 Smoking Man on 02.22.19 at 1:27 am

DELETED

#122 Smartalox on 02.22.19 at 1:36 am

@ Crowded #69:

How is the scandal worse today than the scandals of 20 years ago? The charge against SNC-Lavalin that has the greatest impact on Canadians relates to the Mega-Hospital in Montreal.

What makes this scandal worse than a King-Byng affair, or AdScam, the AirBus affair, Sinclair Stevens, or any other scandal.

As a Canadian citizen, apart from the inefficient use of yours and my tax dollars, how has this latest scandal impacted your life, in material terms?

Have you lost your job as a direct result of this latest scandal? Been denied ANYTHING that you might be entitled to as a citizen?

There are a lot of people who work for SNC-Lavalin, and its suppliers, who may well lose their jobs if the company shuts down or is barred from bidding on government contracts for a decade.

The law is the law, and people make a stand on principle. I GET it.

But I also know that 60 years ago this week, the decision was made to cancel the Avro Arrow program. At the time, it was considered the ‘right’ thing to do given the mismanagement at the AV Roe company. And the scandal of managers demanding ever-increasing bailouts from the Federal government, when cheaper options were available.

Within hours of that decision, 14 000 employees lost their jobs. More lost theirs in the Canadian mills that supplied raw materials, and in the mines that supplied them. Many of Canada’s ‘best and brightest’ minds left Canadian industry and went to work in the US – a ‘brain drain’ that has taken decades to recover.

Is it really the ‘RIGHT THING’ to do this all over again with SNC-Lavalin?

#123 jane24 on 02.22.19 at 2:08 am

I lived in Canada from 1967 to 1998 and was involved in both the federal and Ontario Conservative party politics. It was corrupt at every level but then so were the Liberals if not more so. Cannot speak for NDP as have no personal experience. I personally witnessed party members with no direct job experience being handed plum govt appointments at massive wages and benefits without open competition because they knew the right person to ask. Quebec politics is worse, a very closed shop for patronage. I have family there that confirm this and believe me they would know. The Pure- Wools (Quebecers who came over on the original ship in 17th century) have closed access to plum govt jobs there. Canada for some reason is a very corrupt place but the general public have no idea. They just roll over and pay those sky-high bills on everything to keep the patronage at all levels going.

I have lived in Britain since and have been very involved in federal and local Conservative politics. Nowhere is perfect but I have not personally witnessed corruption here to the extent that I witnessed it in Canada. May be a bit of corruption would help us get Brexit through!

#124 millmech on 02.22.19 at 2:38 am

#67 Mattl
Do not fret about us doomers, we have been socking lots of cash away while everyone else went debt crazy. It is getting pretty cheap in the Okanagan again, seeing more places listing for under $300k, if a recession hits I am expecting houses will be under $200k.
MLS® Number
176557
MLS® Number
175972
Actually getting there pretty quick and I bet a 60% correction easily in your neck of the woods!

#125 Craig on 02.22.19 at 3:48 am

RIP Peter Tork, the 60’s music era was pure magic.

#126 NoName on 02.22.19 at 6:43 am

#118 Tom on 02.22.19 at 12:49 am
Govt debt?
Whateves.
What’s your opinion on MMT?
Interesting Ezra Klein podcast just out…

There is also one that deals wits exact same issues, gov.debt, mmt and this and that by D. Stain at money for the rest of my us. Podcast 241 if i remember correctly, i was listening to it today.

#127 Steven Rowlandson on 02.22.19 at 6:47 am

“plus a set of reforms to “give some optimism” to Millennial homebuyers.”

What are they planning? 2 million dollar debt and tax free first time home buyer grants?

#128 Adrian on 02.22.19 at 7:06 am

What’s sad, Garth, is your constant propaganda. Seriously, have you no shame? Stop using false talking points!

Governments should not run surpluses. The only time they CAN without crashing the economy is when the private sector is on a borrowing binge, which you’re also against.

Please stop making me check you on this. It’s tiresome, not to mention beneath you.

Professor Steve Keen
How Austerity Works: A Simple Numerical Example
https://youtu.be/0y5rP56OX78

One of his newer talks, and also one of his best:
Keen Berlin 2019 Reality Vs Myth
https://youtu.be/auSh9f8krts

The country has almost $700 billion in federal debt and is increasing it now at $18 billion per year. As interest rates normalize, the debt-servicing costs will consume a growing amount of tax revenue. Past governments borrowed against the future to fund programs they could not afford. The future is here. Yet the current government continues, with the new Canada Child Benefit being a great example. A surplus budget is not the immediate goal – but a balanced one would be ducky. – Garth

#129 jess on 02.22.19 at 7:27 am

A North Dakota federal judge dismissed Energy Transfer’s racketeering lawsuit against Greenpeace and all its co-defendants in a sharply worded ruling issued today, finding that the pipeline builder’s allegations fell “far short of what is necessary to establish a [racketeering] claim.”

In August 2017, Energy Transfer filed a Racketeer Influenced and Corrupt Organization (RICO) Act civil complaint against Greenpeace and other environmental groups who had opposed the company’s Dakota Access pipeline, claiming that the protests had caused $300 million in damages (and requesting three times that amount from the defendants).

Today’s ruling flatly rejected Energy Transfer’s claims.

“Donating to people whose cause you support does not create a RICO enterprise,” District Judge Billy Roy Wilson wrote in a terse 12-page opinion dismissing all state and federal claims in the suit. “Posting articles written by people with similar beliefs does not create a RICO enterprise.”

The company labeled opponents “eco-terrorists” in its 187-page complaint, DeSmog reported at the time; Greenpeace responded that the lawsuit should be considered a Strategic Lawsuit Against Public Participation (a so-called SLAPP suit) and was nothing more than an attempt to deter legitimate organizing work.

Other civil society organizations agreed with Greenpeace’s stance.

“Defendants employed time-honored, lawful means to advance their views, protected by core constitutional rights of free speech and association,” the American Civil Liberties Union (ACLU) wrote in a friend-of-the-court brief objecting to Energy Transfer’s (then Energy Transfer Partners, or ETP) claims of racketeering, defamation, and conspiracy. “Under ETP’s theories, ordinary political speech that runs counter to a corporation’s business interests could expose the speaker to enormous, unwarranted liability.”

Judge Wilson ruled today that Energy Transfer’s lawsuit could not go forward, dismissing all of the federal claims with prejudice (so that they cannot be re-filed), writing that “any additional amendments [by the plaintiff] would be futile.” He also dismissed the state claims, though without prejudice.

======
Trump Is Considering a Fervent Climate Denier to Lead a White House Panel Assessing Climate Change Risk
William Happer compares the “demonization” of carbon dioxide to the mass murder of Jews in the Holocaust.
Marisa EndicottFebruary 20, 2019 6:50 PM

https://www.desmogblog.com/2019/02/20/physicist-william-happer-unmoored-climate-science-denier-heading-white-house-climate-probe

https://www.ecowatch.com/energy-transfer-pipeline-violations-2621749915.html

#130 maxx on 02.22.19 at 7:34 am

“Did you see this coming?”

I knew that 2019 would be a bizarre year.

So much damage has been done to Canada over the past 3-plus years. This is damage of the enduring sort. A fiscal wreck needs to get to neutral before it climbs out of the hole and this will take a very long time.

As or the mils, this government absolutely guarantees permanent poverty by continuing on its “the economy will balance itself” path. Can this demographic really be so stupid?? If it thinks that the worsening gig economy and increasing payroll deductions such as CPP are a pain now, wait until they are fully strapped into the rocket of enslaving debt, watching social benefits in their fragile years evaporate. Oh yes, the years will fly by and time take its toll.

There is likely nothing worse in the western world than having no liquid to mitigate the effects of ageing.

What I can’t see coming yet is the scope and species of additional damage that 5 more years of this execrable buffoonery will wreak on Canada’s people.

#131 Rexx Rock on 02.22.19 at 7:47 am

All this bad news will make the Liberals sqeak bye for a minority goverment in 2019.T2 good looks,charm and the overall stupidity of Canadians will make this happen.With all the crap he’s done the income trust kid will regain power.
In Vietnam enjoying the sunshine and relaxing.Just finished dinner,a delicious chicken burger,fries and a Saigon beer for a whopping $4.27.Good times baby!

#132 not 1st on 02.22.19 at 7:49 am

Corrupt companies need to die. Who would think it would be a good idea to still have Enron around? The free market fixes this stuff automatically, its only govt that messes it up.

And I really feel for the few thousand people sitting in office that would be out of work. The 150,000 people who lost their jobs in the patch from corrupt, evil and idiotic Liberal policies know what its about.

#133 50 YEARS OF MAPLE LEAF INCOMPETENCE! on 02.22.19 at 7:55 am

More than sad. Pathetic. Best symbolized by the Make Believes, now having lost 3 in a row.

Way to fleece your dumb supporters, MLSE.

But wait, it’s different this time…….LOLOL.

Down the drain goes the team, the city and soon our country’s finances if Garth is right.

https://www.youtube.com/watch?v=0iZDSsUTU34

#134 maxx on 02.22.19 at 7:59 am

@ #11

“The livre was established by Charlemagne as a unit of account equal to one pound of silver. It was subdivided into 20 sous (also sols), each of 12 deniers.” – Wikipedia

Singular = sou.

#135 maxx on 02.22.19 at 8:02 am

@ #19

No.

#136 not 1st on 02.22.19 at 8:09 am

The real crime in Canada is equalization. That’s world class corruption right there.

So Quebec got 13.5B equalization directly from Alberta and then the Trudeau govt decided they need a top up of another $1.5B and surprise, now they have exactly a $1.5B budget surplus and a bunch of debt paydown and expanded social programs that the rest of us do not get, courtesy of dirty oil.

#137 Manitoba Whale on 02.22.19 at 8:15 am

#20 The Greater Cauliflower on 02.21.19 at 6:24 pm
I miss the days when the leader of the country and the village idiot were two different people

———————-
Cool reference to Alan Fotheringham. I never forgot reading the quote on the back page of Maclean’s magazine 20 years ago. I think it went, “my home town is so small the village idiot moonlighted as the town drunk,,” or somrpething to that effect.

#138 the Jaguar on 02.22.19 at 8:22 am

Next to Garth, the Jag reads this blog for gems from the Fishman.

#139 LL on 02.22.19 at 8:28 am

“Not a sous”

1 sou, 2 sous

We have a little extra time on our hands, eh? – Garth

#140 crowdedelevatorfartz on 02.22.19 at 8:29 am

@#122 Smartalox
“s it really the ‘RIGHT THING’ to do this all over again with SNC-Lavalin?”
++++

Yes.

SNC has proven again and again and again and again they were willing to bribe govt officials locally, and internationally ,to win contracts.
And lets not assume these were the only times they did this. These are the only ones they have been caught doing.
Lets look again shall we?
BANNED from Work Bank bids for 10 years.
“Winning” contracts in brutal dictatorships like Gaddhafi’s, Venzuela, on and on and on.
Head office RAIDED by the RCMP.
Senior staff arrested while running like rats.
And what do they do?

Montreal Superhospital and a $22.5 million dollar bribe to the people directly involved in the decision process.

And because they are “too big to fail” they get a “pass”?
Yeah, Right.
” Sorry. We’ll never ever ever EVER do that again, we promise……”
The company should be folded, the name rendered to the history books, the entire sordid mess should be a lesson to Quebec businesses( as if the Charbonneau Commission wasn’t a wake up call).
No more.
The message from the Feds should be…
If you get caught…THIS is what will happen.
How many billions in tax dollars have gone to SNC?
5? 10? 100?
Time for somebody else to play in the taxpayer sandbox.
Not to worry.
Even if the Canadian govt lets them off.
I’m sure the US Dept of Justice is waiting to get their pound of flesh.
My fervent wish is that some day several of these upper management types that were in the thick of it……get sentenced to 25 years in a US prison.

#141 jess on 02.22.19 at 8:31 am

https://thetyee.ca/Analysis/2019/02/22/SNC-Lavalin-Criminal-Record-Corruption/

Redeemable? SNC-Lavalin’s Criminal Record
And why mega-project construction so often breeds corruption.
By Andrew Nikiforuk Today | TheTyee.ca

#142 thebarold on 02.22.19 at 8:39 am

I believe the comment was made in the context of the vitriol expressed on the internet. This comment section is an example (I can just imagine what doesn’t make it through moderation). I guess these POV always existed, but you just didn’t take the 15 secs to listen to that weirdo in the coffee room.

#143 dharma bum on 02.22.19 at 8:55 am

Did you see this coming? – Garth
——————————————————————–

Yup.

Hate to say I told ya so.

Don’t matter no how.

JT will get re-elected anyway.

The people that voted for him have no link to reality.

#144 Headhunter on 02.22.19 at 9:03 am

strange times indeed. T2 is having troubles at home “who knew?” We need to “Thank him” NAFTA. Kinder Morgan and SNC really shows the pleebs how gov’t and business REALLY work. Expo 67 paid for yet? Mont Olympics? We are all just marks and rubes to them

Its is Fascism. Merger of Govt and state powers. My advice is just live, take that vaca, go out for dinner, buy the new purse..
They are going to raise the age of retirement, it will be past 70 years shortly. They have no choice (60 is the new 50) May as well live now.

New build on an old lot in Barries east end. Nice house. Asking 1.25 Million. In Barrie ON just on a regular street? INSANITY.

Party is over dude and dudettes. I’m sticking with my 50% haircut prediction. Pigs get slaughtered.

#145 AfterTheHouseSold on 02.22.19 at 9:22 am

#120 Where’s That $4 Billion Greedeau?
Re: 4 Billion CMHC dividend payment
4 Billion pipeline purchase
“The Smoking Gun!”

Here’s the ‘Stink Link’ with the stink bomb dropped here yesterday by the aptly named Ray Skunk.

https://buffalochronicle.com/2019/02/19/scheer-wants-bmo-and-treasury-official-questioned-in-snc-lavalin-probe/

Yes, I agree, the smoking gun, as laid out in my “kernel of truth” #91 post. I think BMO is the scandal-in-waiting, the issue Garth alludes to in “It goes deeper, say the wags”.

If so, when this kernel of truth explodes, SNC will pale by comparison. Pass the popcorn.

#146 Patrick on 02.22.19 at 9:29 am

“The only question is whether the kids will fall for it”

————————————-

Garth, I agree with you on a lot and I think you’re very smart, but this sentence kind of riles me. You’ve got to be crazy if you think young people have it in their best interests to vote for a party whose leader just shared a stage at a protest rally with a white supremacist and, even more damning, that denies global warming.

#147 not 1st on 02.22.19 at 9:32 am

Remember what socialism was in Canada. Some union types fighting for dental plans or something. Relatively harmless.

But now we have university indoctrinated Marxist on the prowl. Their motto is you have oppressed me, give me yours while I want to also destroy your golden goose too. Our educators are to blame for this especially at the university level.

#148 ole Doberman on 02.22.19 at 9:58 am

sounds like Poloz is doubtful of higher rates:

https://www.bnnbloomberg.ca/interest-rates-low-enough-to-stimulate-economy-upward-path-uncertain-poloz-1.1217923?fbclid=IwAR0a7RusBBTvBxbT5d46F83zRASObtW72lb8FxV6NHTcZexshoPwh824FaM

#149 IHCTD9 on 02.22.19 at 10:03 am

Trudeau demotes his AG, she quits and lawyers up. Butts gets so worried about whatever he did becoming public that he quits too. Our Minister of the Environment publicly says that Climate Change is sexist. T2 says the budget will balance itself and then racks up 80+ BILLION in new debt. He dresses up like a clown in India. Gets unceremoniously booted from China with empty hands. Buys a ******* oil pipeline with taxpayers money. Lets his goof Ministers get on Twitter and piss off half the planet with their sanctimonious finger wagging.

The Federal Libs are saving me a ton of money on entertainment expenses.

#150 Ponnaps on 02.22.19 at 10:15 am

———————————–
Your wife can withdraw funds from her own RRSP while she is on mat leave and take advantage of her lower tax bracket. It’s preferable to her withdrawing from a spousal RRSP, since if you had contributed to any spousal RRSP in the three years preceding a spousal withdrawal, the funds withdrawn from the spousal would be taxable to you, the contributor, at your (most likely higher) tax rate.
—————————–

Thanks Leslie – but doesn’t this defeat the purpose of the spousal RRSP if the withdrawn money is tax attributed back to the contributing spouse?

#151 Rifles on 02.22.19 at 10:21 am

It is grossly irresponsible for the head of the PCO, Michael Wernick to raise concerns over potential assassination in the context of the coarsening of political discourse in this country. One does not need to have a particularly active imagination to recognise that these sorts of outcomes are possible – recall the murderous rampage of Michael Zehaf-Bibeau on Parliament Hill in 2014. One could also refer back to the political violence of the FLQ crisis to find evidence of such events in Canada. For Wernick to throw his apron over his head and run around in circles raising this spectre is unbecoming of someone in his position. It is not as if our security forces have not considered the possibility nor have we come to the point where we are so MAGA-divided that the left and right no longer speak. Yes, there are crazies out there and we have seen them act out in the Quebec mosque shooting and other tragedies. But Wernick serves no one with such illconsdiered remarks. I would argue that T2’s identity politics does more to divide than unite us, but the Cons or nonentity NDP are not above such special interest pandering. Despite the obvious shortcomings of our elected representatives (not to mention those we did not elect such as Butts et al), our politics can’t be held hostage in fear of the mentally unstable. The head of the PCO should save his shrill warnings for a quiet chat by the fire, not fan the flames of a broader conflagration by expressing his fears and speculating over political assassination in Canada.

#152 For those about to flop... on 02.22.19 at 10:27 am

Recent sale report.

Flying off the shelf!

Not exactly, but I just put this one into the folder a couple of days ago when I picked a few houses that were respectable looking towards the bottom of the market in Port Moody and Port Coquitlam as I had been neglecting these areas and I thought I see what’s up.

This is what’s up.

The details…

3305 Henry st, Port Moody.

Sold 1.03

Originally asking 1.14

Assessment 1.23

So like I said I, just randomly picked this one out as it looked respectable for its age and suitable for a family of 4 or 5.

Value is always debatable, but this where we are are right now.

As stated before I don’t always track the absolute cheapest option in each jurisdiction, I try to find ones that look decent and can imagine a family living there comfortably, not in squalor.

Some people want to see carnage, some people want price discovery.

I want ice-cream…

M44BC

https://www.zolo.ca/port-moody-real-estate/3305-henry-street

https://www.rew.ca/insights/248443/3305-henry-street-port-moody-bc

P.S thanks for helping that person out Long Time Lurker, I knew I probably could have found it but I thought I’d give you a job so you would stop lurking…

#153 Remembrancer on 02.22.19 at 11:06 am

Yet oddly, the Dauphin has yet go on record using his own words to say the same thing has he? Did I miss that, please correct blog dogs if so…

https://www.ctvnews.ca/politics/pm-trudeau-tells-canadians-to-listen-to-clerk-in-snc-lavalin-matter-1.4308178

#154 Lee on 02.22.19 at 11:17 am

DELETED

#155 maxx on 02.22.19 at 11:18 am

@ #25

ahhhaahahahahahaaaaaahhhhaaaaaaaaaa……………ask Mr. Scheer how many years since confederation……ahahahahahaaaahahahahaha………

#156 milly on 02.22.19 at 11:22 am

Hi Garth!

Off topic I know… but I was wondering about your thoughts with investing once you’ve maxed out TFSAs.

My husband and I have both maxed our the TSFA which leaves the rest of our savings for RRSP or Non-reg. We don’t make a lot of money to justify a huge RRSP contribution (We both make about 70K). Would we be better off maxing the RRSP before a non-reg? Or should it be a bit of both?

#157 Bytor the Snow Dog on 02.22.19 at 11:23 am

#37 PGer on 02.21.19 at 7:11 pm sez:
“Is that T2 taking a walk in the snow outside parliament by himself to escape the heat? Not good if there are assassins hiding in the snowbanks!”
————————————————–
Don’t worry, the ninjas will be easy to see. They always wear black.

#158 For those about to flop... on 02.22.19 at 11:34 am

Recent sale report.

O.k that’s enough of trying to help out some folks with price discovery, let’s switch back over to some carnage with this court ordered sale in Burnaby.

The details…

4855 Smith Ave, Burnaby.

Paid 1.80 February 2017

Sold 1.52 January 2019

Originally Asking 2.59

Assessment 1.94

These guys were on the sauce with their original ask.

360k loss will soon sober them up.

Definitely shot themselves in the foot.

Suspected weapon?

Smith and Wesson…

M44BC

https://www.zolo.ca/burnaby-real-estate/4855-smith-avenue

https://www.zolo.ca/burnaby-real-estate/4855-smith-avenue

#159 Smartalox on 02.22.19 at 11:43 am

@Rifles #152:

It is precisely Mr. Wernick’s job to ‘speak truth to power’, and that is what he did. If you consider how he was making eye contact while speaking – that he was there to address the members of the committee, and not to grandstand in front of the TV cameras – he was doing precisely this.

This is NOT a guy who is trying to make a career preening for a sound-bite on the national. This is a guy who has made his career sitting across from politicians of every stripe, qualified, competent, or not, and telling them what he thinks. Then not saying anything when his advice is sun wildly for partisan purposes. What’s different is that yesterday, it was in public, not in the privacy of someone’s office.

“If you stand to hear the words you’ve spoken –
twisted by knaves to set a trap for fools…”

#160 Alistair McLaughlin on 02.22.19 at 11:45 am

Wernick isn’t wrong to warn against extreme rhetoric. (Senator David Thachuk’s remark, for example, was absolutely boneheaded and irresponsible, and I know my fellow conservatives’ heads would be exploding and demanding a retraction/apology if some leftist nutter had urged a convoy of environmentalists in electric vehicles to “roll over every conservative on your way back”, but I digress.) But back to Wernick, his message was completely beside the point, and unrelated to the committee hearings. When you’re testifying before a committee, stick to the subject at hand, and save the soap-boxing for later. They should not have let him go off on a tangent like that. Whether he was virtue-signaling or trying to wrap himself and his political masters in the cloak of victimhood I have no idea, but he came off as an overwrought clown.

#161 Smartalox on 02.22.19 at 11:58 am

Farts @ #141:

It sounds to me like the sum total cost to you as a result of SNC-Lavalin’s evil deeds was merely to make you angry. Even if the company paid money to bribe the hospital staff to get the contract, how much did you, personally pay for that? Especially if the hospital is in Montreal, and you live in BC?

Were YOU in the running for that mega-project contract? Do you feel you were cheated because your bid wasn’t ‘sweet’ enough?

In business with Ghadhaffi? Well, look at how well that worked out for him, eh? What’s the cost to YOU then, eh?

Your cost? Your anger. Your rage being stoked for partisan purposes – for whose benefit? Not yours, if your blood pressure is soaring. Maybe for the benefit of the opposition?

The opposition that would, surely, do exactly the same thing if they found themselves in the same position, as they have on many occasions in the past.

#162 AGuyInVancouver on 02.22.19 at 12:11 pm

#54 expat on 02.21.19 at 7:45 pm

What is your point?

Other than the financial crisis he balanced the books every year.

How is your boyfriend doing?

80 billion and counting in 3.5 years
_ _ _
Has meth made it’s way to your little expat community? I’m trying to explain your delusional thinking that running deficits 6 out of his 8 years makes Harper an economic wiz. He’s an “economist” in the same way someone with a PoliSci degree is a “political scientist”!

#163 NFN_NLN on 02.22.19 at 12:44 pm

DELETED

#164 Smartalox on 02.22.19 at 12:49 pm

YAY Pipelines!

NEB APPROVES Trans Mountain Pipeline Expansion!

https://www.citynews1130.com/2019/02/22/neb-trans-mountain-project/

VANCOUVER (NEWS 1130) – Despite criticism from environmental groups and the B.C. government, the National Energy Board has once again approved the controversial Trans Mountain pipeline expansion project, if it meets certain requirements to protect the environment.

The report includes 16 new recommendations to the federal government.

The NEB says its “overall recommendation that the Trans Mountain Expansion Project is in the Canadian public interest and should be approved.”

Looks like the AB ‘convoy’ had better get home and get back to work!

#165 jess on 02.22.19 at 12:50 pm

This is an urgent humanitarian issue. My administration is committed to leveraging every resource we have to confront this threat, to support the victims and survivors, and to hold traffickers accountable for their heinous crimes.

Donald J. Trump

President of the United States
============
This is so unamerican! Trump should speak to his buddy about this.
“men availing themselves to this human misery”

https://www.wptv.com/news/local-news/martin-county/martin-county-sheriff-william-snyder-holds-news-conference-on-8-month-investigation

New England Patriots owner Robert Kraft charged as a ‘john’ in human trafficking/prostitution investigation

Martin County Sheriff William Snyder says two women at center of human trafficking investigation
Uncovered in an 8-month multi-agency investigation
Posted: 3:49 PM, Feb 19, 2019
Updated: 8:05 AM, Feb 21, 2019
Five day spas were targeted as a part of the investigation: Cove Day Spa and Therapy Spa in Stuart, Bridge Day Spa and Sequoia Apple Day Spa in Hobe Sound, and Orchids of Asia Day Spa in Jupiter.

According to Snyder, investigators were tipped off through a complaint filed by the Health Department in July 2018.

Li and Zhu were given multiple charges including operating a house of prostitution, permitting prostitution, money laundering and racketeering.

Investigators seized $2 million to $3 million in assets.

Sex-trafficking victims received this care package when they were rescued by law enforcement today. More victims could come forward and more arrests are coming. https://t.co/qhM6zX8uxU @WPTV @MartinFLSheriff @MeghanWPTV @TownofJupiter pic.twitter.com/vqqiPQmtS4
— Merris Badcock (@MerrisBadcock) February 19, 2019

Snyder says more victims may come forward and assured reporters more arrests would be coming. “This is the tip of the tip of the iceberg.”

#166 Adrian on 02.22.19 at 12:51 pm

“The country has almost $700 billion in federal debt and is increasing it now at $18 billion per year. As interest rates normalize…” -Garth

Have you noticed something about interest rates over the past forty(!) years, Garth? Ever since governments started focusing on trying to balance their budgets, interest rates have started EVERY business cycle at a lower rate than the one before. Private deficits have had to fill the gap in money creation. A growing economy NEEDS a growing money supply. Since money is debt, this either comes from the government, or it comes from household and corporate borrowing.

#167 Lee on 02.22.19 at 1:11 pm

#155,

Surprised by the deletion but then did some research and seems my comment was a bit of an overreach.

#168 jess on 02.22.19 at 1:16 pm

….advising people and have a fiduciary interest in the people you’re advising

NY Times investigative story
As McKinsey Sells Advice, Its Hedge Fund May Have a Stake in the Outcome

https://www.nytimes.com/2019/02/19/business/mckinsey-hedge-fund.html

#169 Pay Close Heed on 02.22.19 at 1:21 pm

He must be kidding, and look at the comments. T2 is playing us for a bunch of fools.

https://www.cbc.ca/news/politics/trudeau-snc-lavalin-privy-council-st-john-s-1.5029516

#170 expat on 02.22.19 at 1:21 pm

#163 A NDP/Liberal supporter in Vancouver

What’s his background?

Harper earned a BA in economics in 1981 at the University of Calgary. After a stint as a political staffer in Ottawa, he returned to the university and eventually earned a master’s in economics. He considered a career teaching economics at university or working in public service.

His 1991 master’s thesis, The Political Business Cycle and Fiscal Policy in Canada, “is a fine dissertation that would have made a solid foundation for launching a PhD dissertation on a similar topic,” journalist John Ibbitson writes his new biography, Stephen Harper.

Just saying

BTW – What background does your hero have?
Drama teacher, Camp counsellor, SNC Lavalin and Bombardier front man…..

Next point?

Trudeau taught, was elected as an MP where he served for six years, ran a leadership campaign, won that and then a general election to become prime minister. And you? – Garth

#171 JRT on 02.22.19 at 1:55 pm

DELETED

#172 Yellow Vest on 02.22.19 at 2:43 pm

expat on 02.22.19 at 1:21 pm
#163 A NDP/Liberal supporter in Vancouver

What’s his background?

Harper earned a BA in economics in 1981 at the University of Calgary. After a stint as a political staffer in Ottawa, he returned to the university and eventually earned a master’s in economics. He considered a career teaching economics at university or working in public service.

His 1991 master’s thesis, The Political Business Cycle and Fiscal Policy in Canada, “is a fine dissertation that would have made a solid foundation for launching a PhD dissertation on a similar topic,” journalist John Ibbitson writes his new biography, Stephen Harper.

Just saying

BTW – What background does your hero have?
Drama teacher, Camp counsellor, SNC Lavalin and Bombardier front man…..

Next point?

Trudeau taught, was elected as an MP where he served for six years, ran a leadership campaign, won that and then a general election to become prime minister. And you? – Garth

!!!!!!!!!!!!!!!!!!!

AOC also won a campaign and was elected to congress. How is that working out? Cheers.

Was she elected national leader? I must have missed that. Still waiting for your credentials. – Garth

#173 Ubul on 02.22.19 at 3:00 pm

#171 expat on 02.22.19 at 1:21 pm
Trudeau taught, was elected as an MP where he served for six years, ran a leadership campaign, won that and then a general election to become prime minister. And you? – Garth

Absolutely true.

We will never know, how much of this would have been accomplished if the same person had a different last name.

His legacy as politician will give hint.

I find it sad, always, how political life is dominated by small thinking. If people (like you and Yellow Vest) spent more time promoting your heroes and their ideas than trashing your enemies we might get somewhere. – Garth

#174 crowdedelevatorfartz on 02.22.19 at 3:00 pm

@#162 Smartalox.

No no.
You just keep justifying why a company convicted of bribery, facing more bribery charges, should be let off the hook.

Because…..people will be out of work.

Really?
You dont think other companies are waiting in the wings to snap up those lucrative govt contracts or buy SNC itself?
SNC wouldnt be in this trouble if they had used that time honored tradition…..integrity.

And I thought I was naive.

#175 Adrian on 02.22.19 at 3:18 pm

If you think you can stand more of my comments, Garth, I will share a comment that I posted on another site earlier in the week (it’s been slightly edited for this posting):

The problem is the economy doesn’t grow without a growing money supply, but this only occurs in two ways: governments running deficits and private borrowing from banks in excess of repayments. Private debt (in the USA) maxed out & stopped growing relative to GDP back in 2008, which has left government to pick up the slack in money creation:
https://goo.gl/images/DJH7L2

(Canada is just entering this phase now, as borrowing for real estate scales back.)

Meanwhile, the high private debt ratios now occurring globally also occurred nationally in France prior to the French Revolution & WW1, & in the USA prior to WW2:
https://goo.gl/images/k37wBp

And, major deleveraging events in private debt occurred in the USA prior to the American Civil War, WW2, and most recently in 2008, with populism rising right on schedule:
https://goo.gl/images/8ZpvH3

The problem is private debt, not government. Capitalism is entering the ‘stagnation & decline’ phase of the debt super-cycle, which mainstream economic models don’t include, and therefore don’t recognize as possible. Historically, this phase has led to war as a means of resetting the debts. (If only humans had some specialized organ that could recognize patterns in causality, which we could use to see this coming, and therefore prevent it…)

#176 Adrian on 02.22.19 at 3:34 pm

Sorry, I should have included this in the last post, Garth, and thank you for bearing with me.

According to Professor Mark Blyth, and based off a graph put together by the Bank of Japan going back to the 1400s, “the global long run rate of interest is around 1.5%”:

(Here’s a copy of the graph:)
https://goo.gl/images/K7vgWS

(Here’s a brief YouTube presentation where Prof. Blyth discusses that graph:)
https://youtu.be/b0SUfhoqV8w

(And here’s the 10y US Treasury note, going back to the 1700s:)
https://goo.gl/images/Xq5cBm

So, we’re AT the normal interest rate. Get used to it.

#177 Jerry on 02.22.19 at 3:37 pm

“And the moister house strategy? Yup, it’s coming. Maybe 30-year mortgages again. Perhaps removal of the $1 million CHMC price cap.”

I think many have been jumping to conclusions lately about what Morneau will do. At a news conference in Victoria recently he hinted that he hasn’t even thought of bringing back 30 year mortgages and the stress test isn’t going anywhere. This is just a bunch of hopeful gossip from the real estate industry
https://www.timescolonist.com/business/finance-minister-bill-morneau-has-close-eye-on-housing-money-laundering-1.23628857

Did you even read the story? He said no such thing. – Garth

#178 Alistair McLaughlin on 02.22.19 at 3:44 pm

#176 Adrian, the cure to all that debt is a recession. A bad one, lasting perhaps a decade. The reason we’re in this mess is that since the late 1990s, central banks have responded to every economic downturn by aggressively slashing rates. Instead of just allowing recessions – which are normal, natural, and healthy part phases of the economic cycle – to run their course, they applied monetary stimulus via cheap money in order to paper things over. There will come a time when we have to pay the piper. Pumping more public debt into the picture in order to alleviate private debt will just delay the inevitable. And make the inevitable even worse than it needs to be. It will already be bad enough.

Do I expect this to happen? No. we will continue to try to print our way out of a problem we printed our way into. Hell, we might even see a President Bernie Sanders adopt the lunacy of MMT as promoted by his economic advisor Stephanie Kelton. (Even Krugman thinks she is nuts). And the US will become the 2020s version of the Weimer Republic a century before. All because we’ve become such sissies that we can’t tolerate the idea of a recession. Should be fun.

#179 KLNR on 02.22.19 at 3:53 pm

@#174 Ubul on 02.22.19 at 3:00 pm
#171 expat on 02.22.19 at 1:21 pm
Trudeau taught, was elected as an MP where he served for six years, ran a leadership campaign, won that and then a general election to become prime minister. And you? – Garth

Absolutely true.

We will never know, how much of this would have been accomplished if the same person had a different last name.

His legacy as politician will give hint.

I find it sad, always, how political life is dominated by small thinking. If people (like you and Yellow Vest) spent more time promoting your heroes and their ideas than trashing your enemies we might get somewhere. – Garth
_________________________

well put Garth.
Although I’m sure it’ll fall on deaf ears.

#180 Adrian on 02.22.19 at 3:53 pm

(Another source for Prof. Blyth’s quote, the “global long run rate of interest is around 1.5%” comes from this PDF of his presentations:)

https://www.volatilityinvesting.co.uk/Content/pdf/stupid-economic-ideas-mark-blyth.pdf

#181 James on 02.22.19 at 3:55 pm

The drug plan comes at an awkward time, since it’ll be expensive and the T2 government is already drowning in red ink. If you remember back to 2015, the Libs promised a temporary deficit of $10 billion for two years, followed by a budget that ‘would balance itself.’ Well, the deficits have added up to about about six times that amount, with another $18 billion this year and a projected $76 billion in new debt over the next five years. Now we’re about to get more spending.
_____________________________________________
Hows that going Justin? “The budget will balance itself” Bull$hit Justin, where did you learn that one? He sold this crap to the millennials solely based on the fact that there were getting legal marijuana! That was the only thing they cared about. The millennials carried the vote unfortunately and the problem is that they have no hope in sustaining a domicile of their own so why not just get high every night, cest la vie. Well our debt load is beyond the glass ceiling and hurtling towards Mars right now. If Trudeau worked for me and said the budget would balance itself” I would fire him on the spot for incompetence. Nobody in business floats a budget and hopes for the best, WTF was he thinking? But then again he is T2 a smug, pugnacious little spoiled brat.

On va s’aimer on va danser
Oui c’est la vie lalalalala
On va s’aimer on va danser
Oui c’est la vie lalalalala…

#182 Blacksheep on 02.22.19 at 3:58 pm

#171 expat on 02.22.19 at 1:21 pm

“Trudeau taught, was elected as an MP where he served for six years, ran a leadership campaign, won that and then a general election to become prime minister. And you? – Garth”

“Absolutely true.

We will never know, how much of this would have been accomplished if the same person had a different last name. His legacy as politician will give hint.”

“I find it sad, always, how political life is dominated by small thinking. If people (like you and Yellow Vest) spent more time promoting your heroes and their ideas than trashing your enemies we might get somewhere. – Garth”
——————————————-
I voted for T2 because I was hopeful. But he has now shown himself to be inept at his job. T2 was elected because of his last name and his mothers good looks.

He would have never had a hope in hell otherwise, because he lacks the skills required to function effectively as PM, but people around him overlooked his weaknesses, knowing he’s a shoe in for the easy win.

Your “what have you done” stance, does not exonerate an elected official from criticism by the people that put their faith in him or her, when said official does a piss poor job. I understand keeping voters happy is a difficult task, but when simple common sense is thrown out the window, it becomes painfully obvious said elected official is either corrupt, or in, way over their head…

I think the later applies with Justin Trudeau…

#183 DON on 02.22.19 at 4:06 pm

#175 crowdedelevatorfartz on 02.22.19 at 3:00 pm

@#162 Smartalox.

No no.
You just keep justifying why a company convicted of bribery, facing more bribery charges, should be let off the hook.

Because…..people will be out of work.

Really?
You dont think other companies are waiting in the wings to snap up those lucrative govt contracts or buy SNC itself?
SNC wouldnt be in this trouble if they had used that time honored tradition…..integrity.

And I thought I was naive.
****************************
Agreed,

Nothing is to big to fail. If they are corrupt let them fail. Employees will be hired or taken over by other firms waiting in the wings. Called free enterprise Smartalox let the market determine what happens. Nothing lasts forever.

#184 45north on 02.22.19 at 4:10 pm

Win not Lose: And what about all those hoaxes?
Yep. Smollett and his compatriots suffering from media brainwashing.

CNN: In the weeks since the alleged attack, there have been numerous twists in the narrative, transforming Smollett from victim to suspect. Smollett has stood by his initial claims that he was attacked. Celebrities and politicians lent their fervent support, but there were doubters. The backlash grew louder as social media users questioned the actor’s claims after police said they could not find video of the incident from surveillance cameras in the area.

#185 Adrian on 02.22.19 at 4:11 pm

And here’s a more detailed variation of Prof. Blyth’s presentation on YouTube (it’s over an hour, but it’s worth it):
https://youtu.be/BsqGITb0W4A

#186 Blacksheep on 02.22.19 at 4:18 pm

“Hell, we might even see a President Bernie Sanders adopt the lunacy of MMT as promoted by his economic advisor Stephanie Kelton.”
—————————–
Stephanie Kelton has made a very strong case that MMT is and has been in effect for many years (Nixon 1971?)

Does any body accentually believe the US o A, is going to pay off their 22 trillion $ debt?

Never, going, to happen.

Cause it’s all about perception.

The reason MMT has never been openly discussed in polite company is: 1) Politian’s lack restraint and are better kept naive, along with the masses. 2) The working class would be very upset for losing X % of the pay cheque monthly in heavy taxes all their lives, if they found out, the gov really does have a printing press.
3) Points 1) & 2) would lead to your out of control inflationary situation, so the system decided it’s better off keeping the ignorant, ignorant.

Until now…

#187 Dissident on 02.22.19 at 4:22 pm

This post doesn’t say much in terms of substance. According to you, in previous posts, the economy is doing great, firing on all cylinders, no recession, jobs are great, yadda yadda. So it seems you only mention a hypothetical catastrophe when it meets your editorial needs.

Just a lot of pot-stirring and hating on Liberals and Millennials. Yawn. Thank u, next.

At least the RSP posts were good.

#188 yvrmc on 02.22.19 at 4:30 pm

DELETED

#189 NoName on 02.22.19 at 4:40 pm

Off topic

Few days ago i believe i posted molten salt battery, i think, but this is article is kind of about energy storage, interesting read, bill g turned a corner and speaks a truth about renewable energy and schooling scholled, or maybe its just some thing different.

https://business.financialpost.com/opinion/peter-foster-bill-gates-defying-the-climate-barons-tells-the-ugly-truth-about-renewables/amp

#190 RBull on 02.22.19 at 4:52 pm

@#53 crowdedelevatorfartz

@#38 Screwed Canadian Millenial
“Lol Garth that comment was harmless…..”

******
Garth was just screwing with you Canadian Millenial.

I’m guessing the deletion was because SCM often has little to say of substance that doesn’t contain an attack on another generation.

#191 Ubul on 02.22.19 at 4:52 pm

#174 Ubul on 02.22.19 at 3:00 pm

#171 expat on 02.22.19 at 1:21 pm
Trudeau taught, was elected as an MP where he served for six years, ran a leadership campaign, won that and then a general election to become prime minister. And you? – Garth

Absolutely true.

We will never know, how much of this would have been accomplished if the same person had a different last name.

His legacy as politician will give hint.

I find it sad, always, how political life is dominated by small thinking. If people (like you and Yellow Vest) spent more time promoting your heroes and their ideas than trashing your enemies we might get somewhere. – Garth

—-

You must have misunderstood something.

My point was, that although we know the circumstances how he got into politics, until his political life ends and we have a clear view about his legacy, it is not possible to judge how he fared overall as politician.

I don’t see even as much trashing in this, as calling him T2, instead of his real name.

#192 Barb on 02.22.19 at 5:02 pm

“Despite the obvious shortcomings of our elected representatives (not to mention those we did not elect such as Butts et al), our politics can’t be held hostage in fear of the mentally unstable. ”

———————————————-
How about if, during future election campaigns, we only televise/interview the party leader’s (contracted) advisor is/would be.

Could save a lot of time.

#193 Adrian on 02.22.19 at 5:30 pm

#179 Alistair McLaughlin

There is an important difference between recessions and depressions, and what you are suggesting would quickly become a depression. The “Paradox of Thrift” would kick in and become a self-reinforcing downward spiral, as it did during the Great Depression. Another likely outcome is falling asset prices lead to declining investment, lead to falling employment & income, lead to falling aggregate demand, lead to falling asset prices, and so on.

As I said, we’ve been here before several times. This is the end of the debt super-cycle, not simply a short-term slowdown of ongoing debt accumulation, which is what recessions are. For example, do a little research & compare the dates of recessions in the USA going back two centuries to the blue line of the following graph, which shows “Credit” as the yearly change in “Debt” as a percentage of GDP:

https://goo.gl/images/8ZpvH3

The last time Credit was negative was the Great Depression, whereas recessions occur even when Credit decelerates but stays positive. During the 19th century there were more frequent negative Credit events, and recessions were more frequent & lasted longer, but this still didn’t prevent a bubble in private debt that ultimately produced the Great Depression (see “Debt” from the graph above).

Furthermore, a decade of Depression would devastate entire national economies, not to mention destroy the retirement savings of *at least* a generation. It has happened before, and it produced the extremist populism that led to WW2. People were ruined in the Great Depression… is that really what you want to have happen to your family, neighbourhood, city, province, and country? Really, really?!

(Here’s unemployment vs Credit in the USA from Prof. Steve Keen, just to make my point. The national relationship isn’t as strong in Canada, because we rely heavily on exports to the US for the demand for our output:)
https://goo.gl/images/oq2cme

Finally, you’re missing the point that MONEY IS DEBT, and a growing economy needs a growing money supply. Either that comes from governments, or it comes from you and me leveraging our futures to pay for bank-CEO bonuses. And unlike governments, you and I don’t own our own Central Banks that can buy our debt and pay us back the interest we fork over.

Inequality and high private debt levels go hand-in-hand. Prof. Keen’s models demonstrate this clearly. Even with zero government interference, zero ponzi “investment,” and even if the only borrowing is by companies for productive investment, higher private debt levels produce negative structural consequences. These include reduced employment & slower growth coming from stagnating investment, as consumer demand is slowly squeezed. (Sound familiar?)

This is a direct result of higher inequality, which takes the form of a higher share of national income going to bank owners at the expense of a lower share going wage-earner income. (Companies reduce investment to match the reduced demand, since bankers don’t buy as many washing machines, cars, IPads, etc. as working class people would with the same money.)

So either the money (=debt) to lubricate the economy comes from private borrowers, which produces extreme inequality and undermines the demand that produces the investment that creates the economic growth. Or, it comes from governments who can direct their central banks to buy some portion of the debt, thereby costing them nothing for that portion. This isn’t pie-in-the-sky; Japan has been doing this for 30+ years.

Another possibility is we follow Prof. Keen’s “People’s QE” and use Central Banks’ power to create money to reduce private debt levels, but on a per capita basis. So every citizen gets the same amount of money, but people with debt can only use it to pay off debt, whereas people without debt could add it to their RRSP for retirement. One way or another, private debt levels need to come down, and last time the reset was caused by WW2. And before that, WW1 reset France’s private debts. And before that, the French Revolution.

“I do not know with what weapons World War III will be fought, but World War IV will be fought with sticks and stones.”

(I find the quote clever, even if I dread its probable veracity.)

#194 Gravy Train on 02.22.19 at 6:26 pm

#160 Smartalox on 02.22.19 at 11:43 am
“If you [can] stand to hear the words you’ve spoken – twisted by knaves to set a trap for fools….” I enjoy your posts. Thanks for elevating the discussion by citing Kipling’s short poem “If”, one of my favourites. The first time I read that poem, I got a shiver down my spine, and a tear welled up. If everyone lived by that poem’s words, the world would be a paradise. :)

#195 From Vancouver on 02.22.19 at 9:47 pm

Maybe it is just my vivid imagination…but how did Warren Buffet know one week in advance what the decision of the National Energy Board will be, one week later?

Or was it payback from the Federal Government for the help that Buffet gave them one year ago, with saving the mortgage company in trouble, and with that, avoided an embarrassing public issue with the entire Canadian mortgage industry, and avoided exposing the fact that the whole housing and mortgage industry are just overrated worthless paper?

Admiral Norman, SNC, overpaying for the Trans Mountain…, talks of bribes and paybacks and favours from certain shipyard company with deep roots and close relations to Liberals…

I would not be surprised if the heads of the Liberal party will not start to be found with hidden accounts in Panama or Cayman, etc.

I really hope it will start to catch up with them, and slowly they will be exposed, if indeed they are overstepping the boundaries.

It just seems that there is a little too much smoke and tell-take signs, lately, and that it is starting to catch up with them.

Sure, there may have been pressure from the PM office in trying to help SNC, and the shipyard. But one would wonder why? What did these mega-corporations did in return, to have the PM intervene so aggressively (above and beyond what is “normal”), to save them harmless?

And the argument that the PM has intervened, to save a Canadian corporation for the benefit of the Canadian economy holds water only in the case of SNC.
However, in the case of the shipyard, it does not hold true. The PM intervened to help one Canadian shipyard…by harming another Canadian Shipyard? It just happens that the first (preffered, worth helping) donates how much and to whom?

#196 Anonemouse on 02.23.19 at 2:39 am

Traitor is damn right, he should get impeeched… that lady was spot on call him out at that town hall meeting. Only SJWs cant spot him coming a mile away

#197 Steven Rowlandson on 02.23.19 at 1:51 pm

Since there is no political will to pay down government debt except for Paul Martin’s noble gesture I would think there is a debt crisis facing the nation. Either the debt will get so big that it will be defaulted on or it will be inflated away Wiemar republic style. If the debt is no good neither is the currency based on it. The only other possibility that comes to mind is debt for equity or tax payment swaps which might lighten the load on the federal or provincial governments. Either way something is going to get written down….or off.