Who knew?

The first business day after a cabinet shuffle, T2 has another cabinet crisis. With the resignation of Jane Philpott, Trudeau loses a trusted, experienced politician. But it’s way more than just a defection. This is a Lib disaster. Think Titanic. Dino-incinerating asteroids. The black hole.

Two senior women ministers out the door in quick succession. Serious allegations of legal and moral cock-ups by the PM and his cronies. The exit of the prime minister’s principal secretary and long-time fixer/fluffer. And now this. Just months before an election.

“I must abide by my core values, my ethical responsibilities and constitutional obligations,” said Philpott as she left, twisting the knife handed her by JWR. “There can be a cost to acting on one’s principles, but there is a bigger cost to abandoning them.”

They’ve suddenly discovered ethics in Ottawa. Who knew?

  Philpott says it’s all about SNC Lavalin. Wham. She has “serious concerns” regarding the pressure the Trudeau gang put on the former attorney-general to intervene in the criminal prosecution of that company and she can no longer support the government. This from the President of the Treasury Board who was formerly the Minister of Health. So with this news the Trudeau government – almost assured of re-election three weeks ago – is entering a state of poochedness.

Brison. Butts. JWR. Philpott. And the top bureaucrat saying he fears someone will get shot. Remember this day. Soon you may just have the lingering stench of weed to remind you of Pierre’s kid.

$     $     $

Meanwhile in BC, Comrade Premier Horgan must be rejoicing at the latest real estate stats. The Dipper campaign to tax and Hoover the poop out of the market is a resounding success. Equity’s being erased and prices are falling. But, of course, buyers are few and far between.

Sales last month were down 32% year/year while listings mushroomed more than 40%. Incredibly 91.5% of all detached homes on the market failed to sell, and market value is now dropping by about 1% a month. In fact the average detached price at $1.4 million has plunged 20% from its peak. If this were stocks, it would be a bear market. The detached carnage is everywhere. West Van (-28%), East Van (-21%), North Van (-16%).

So, more to come. Negative sentiment is building, which means even fewer buyers. Driving prices down with political actions is just as dumb as governments pumping housing up. The odds of an overshoot are real. If that 20% drop turns into 40% there’ll be tens of thousands of families in negative equity, owing more on their homes than they’re worth. As the US experience showed us, in a market rout it’s not house-hungry families swarming the streets looking for bargains, but investors buying the dip.

Trudeau. Horgan. Notley. Barry McGuire. One-hit wonders.

$     $     $

And here’s an interesting tidbit. Canada’s largest homebuilder, Mattamy, looks like it’s starting to wriggle out of the real estate business. On Monday the company announced a major reorg, creating an asset management corporation, “to capitalize on a range of investment opportunities and strategic partnerships outside of the homebuilding industry. The significant excess cash flow generated by Mattamy Homes Canada and U.S. will allow both the de-leveraging of the homebuilding businesses and the funding of these new investments.”

Well, when the biggest builder in the land says it will be ‘de-leveraging’ from homebuilding you know something is hitting the fan. Stay tuned for life after particleboard.

$     $     $

“I think that’s why they let comment moderators work from home,” Adam Sokol wrote in the NY Times a few days ago in a piece about moderating posts on a conservative website. “Nobody wants to work next to the guy who’s quietly weeping at his desk. It just brings everyone else down and is a real bummer in terms of productivity.”

Weeping’s not my thing. But some days this blog is a place I’d rather avoid. Since a certain person was elected US president, it’s apparently okay to be openly anti-Chinese, xenophobic, tepidly racist and unapologetically intolerant of those worried about silly distractions like the climate or the wealth gap. On a quasi-financial site like this, this stick-it-in-your-eye arrogance extends to trashing anyone without the current alt-right world view – that Libs have destroyed our economy, anyone other than Trump will destroy that one, central bankers are idiots, gold is good, real alpha men flip stocks and the Internet’s where you go to rip off free information, then dump on the source.

Yesterday was a prize. After referencing a big rebound on Bay Street in 2019 and a reversal of last year’s market plop in New York, I detailed weightings for a 60/40 portfolio rebalance. A few tweaks from previous iterations, appropriate for a volatile year of politics, trade tensions and tapering interest rates. Naively, it seemed like a service. But it didn’t jive with the narrative of those who live in a black-&-white world. The DELETE finger was busy.

So, good luck You’re now on your own.

218 comments ↓

#1 Red falcon on 03.04.19 at 4:43 pm

Wow delete function…. and first!!!

#2 Lost....but not leased on 03.04.19 at 4:49 pm

Phhyyrrzzttt.

“breaking news”:

Mattamy joint ventures with SNC Lavalamp to build homes that only comply in French.

#3 The Greater Cauliflower on 03.04.19 at 4:49 pm

Ha!
Calling the PM’s principal secretary Gerald Butts a “Fluffer”

Starts my week off with a wry smile

#4 Djumbe on 03.04.19 at 4:59 pm

Garth, thank you for the 60/40 rebalance update yesterday. Much appreciated as always.

#5 praire person on 03.04.19 at 5:00 pm

Garth, I’m afraid that none of us are exempt from the craziness that is out there. I saw what I think was the beginning of this. I taught at a university and watched people become detached from reality. Feelings replaced facts. Right became wrong and wrong became right. There was no exaggeration that was too crazy to support. The students were no longer students. They were customers and the profs were no longer authorities, they were salespeople selling the equivalent of shirts. We have small groups of direct actions people who are convinced they are right about all sorts of things and are prepared to force it onto everyone else. Facts no longer matter. Knowledge was replaced by creativity even though the creators had neither knowledge nor skill. The internet has made it all worse because the kind of ignorant nonsense that used to be confined to the local coffee shop or bar now can be posted on line. Stupidity has always been with us. It just has been exposed and encouraged. Don’t take it personally.

#6 Stan Brooks on 03.04.19 at 5:02 pm

When will the little weasel at BoC resign as well?

Idiot sounds like a praise for him.

#7 Centre-Right? on 03.04.19 at 5:04 pm

Garth for prime minister 2019!

#8 Not 1st on 03.04.19 at 5:07 pm

On behalf of all peoplekind I love it. Canadas going to be back soon and we will rock after we have taken out the trash. Buh bye progressive know nothings.

#9 ptt on 03.04.19 at 5:10 pm

How is Horgan going to balance his budget, if he can’t tax the (no longer happening) property transfers?

The Province’s cash cow will dry up.

#10 Now on our own on 03.04.19 at 5:10 pm

“So, good luck You’re now on your own” Garth, as a grateful client of yours and a follower of your blog for years, I’ve never really found the comment section helpful. It must have taken a tremendous amount of energy over the years to wade through all the angry comments from the steerage section – so I hope you can keep the blog going without the comment section, and use all your new-found time to spend all-important moments with your dog(s), wife, grateful clients, and renovating buildings needing love. Upwards and onwards!

#11 Terry on 03.04.19 at 5:14 pm

“So, good luck You’re now on your own.”

That’s the way it is in this world! Sink or swim and every man for himself! No other way works. The Liberals and the Democrats are imploding right before my eyes and I’m glad to still be here to see it happening! Get ready for a Conservative majority in Canada this fall!

Life is good!

#12 Retired in Kelowna on 03.04.19 at 5:20 pm

Garth,
I hope you are not throwing in the towel with your Blog with that last comment?! Maybe the comment section needs to go. It’s too stressful for you and those of us that count ourselves as your Faithful Followers.
Keep up the great work.

#13 renter in Surrey on 03.04.19 at 5:27 pm

Please Lord, bring cleansing fire of RE crash upon us.
Burn it down to the ground.

#14 My Name is Neo on 03.04.19 at 5:29 pm

“Since a certain person was elected US president, it’s apparently okay to be openly anti-Chinese,”

Garth, don’t succumb to the elementary deductions of the Libs. Trump isn’t anti-Chinese…….he’s pro USA.

#15 greyhound on 03.04.19 at 5:30 pm

So many Internet articles about what SHOULD happen, so few with any useful/actionable ideas about what’s LIKELY to happen. This site is sometimes one of those few helpful places, for which I’m grateful.

Political pendulum is likely swinging right in Canada and left in the US, so changes are coming in any case, regardless of whether JT or DT are re-elected.

#10: Well said!

#16 kbean on 03.04.19 at 5:33 pm

For the benefit of the silent majority, please do keep us posted on your latest portfolio recommendations.

#17 Keith in Rio on 03.04.19 at 5:34 pm

Your honor, the people would like to call the Crime Minister of Canada, one Mr. J Dressup……..to testify in his own defence.

Judge, he appears to have been distracted by some mirrors in the hallway or something, and we are attempting to locate him.

#18 Kevin on 03.04.19 at 5:37 pm

Hi Garth,

Love your blog, but can’t stand the comments much. How about a trusted group of volunteers to help monitor the comments? Using a tool like Disqus or WordPress’s comment system would help offload this work to some volunteers.

#19 Darts on 03.04.19 at 5:39 pm

Garth,

Comment sections are always dominated by the extreme. The silent majority of your readers love this blog and the free service you provide to us daily.

Really hope you keep at it. Could always just kill the comment section?……… maybe it will force the keyboard warriors out of their moms’ basements and give them a chance to start interacting with normal society again. Win – Win

#20 APF on 03.04.19 at 5:39 pm

Let me say that I enjoy your posts in general and I really liked yesterday post. I can’t believe people found a way to politicise such an objective post…

I did see a trend on many news organization to severly limit the comments or simply stop people to do them. If you do that you would not be the first, and I prefer quality content over the ability to do comments.

#21 yorkville renter on 03.04.19 at 5:40 pm

#14 – Trump is only pro-Trump. Always has been, always will be.

#22 New Poll Survey on 03.04.19 at 5:40 pm

It came out recently with questions about trust and leadership for voting purposes. The Green Party under Elizabeth May lead the pack bigtime. Now if I were Scheer this would be deal time for some very serious private discussions.

#23 Rick on 03.04.19 at 5:40 pm

“gold is good”
We agree. Much better than cash.

#24 Barb on 03.04.19 at 5:43 pm

“…the Internet’s where you go to rip off free information, then dump on the source.”

—————————————-
That’s occurred to me frequently too on reading the undignified comments people post.

It’s one thing to despise the policies of T2 and Comrade Horgan (they’re both too left-leaning for me).

But it’s yet another thing entirely to post disrespectful comments to the host-a proven financial sage-who’s offering us free help.

Gratitude, folks!

#25 Mohammad on 03.04.19 at 5:47 pm

Garth please dont get rid of the comment section because of some idiots. Sorry you have to go through this, but the comment section makes this blog awesome. Thanks for everything! Thanks for teaching me alot!

#26 Lawnboy on 03.04.19 at 5:48 pm

We lost John Candy 25 years ago today. We need more laughs from time to time….I miss that guy.

I remember John and Dave Thomas in SCTv Roman skit;

Dave T. ( dressed as the Commander) : Angry with the scoundrel at his feet. “ Seize him!!!!! “

John C. ( the Spartan Guard with east coast accent)

“ Sure I see’s him……he’s right there!!!!”

Keep her going Garth.

#27 crowdedelevatorfartz on 03.04.19 at 5:50 pm

My my.

Trudeau’s “Ides of March” is upon him…….

Et tu Jane?

#28 The real Kip (Ret) on 03.04.19 at 5:51 pm

“She has “serious concerns” regarding the pressure the Trudeau gang put on the former attorney-general to intervene”

Couldn’t have been that serious. She stayed in caucus to sit as a Lib MP ensuring her snout is still in the trough and the pension is safe.

#29 Damifino on 03.04.19 at 5:52 pm

Did Kevin O’Leary call it, or what?

Give the boy enough rope and….

#30 AGuyInVancouver on 03.04.19 at 5:52 pm

#14 My Name is Neo on 03.04.19 at 5:29 pm
“Since a certain person was elected US president, it’s apparently okay to be openly anti-Chinese,”

Garth, don’t succumb to the elementary deductions of the Libs. Trump isn’t anti-Chinese…….he’s pro USA.
_ _ _
What Garth is alluding to is that if you raise the fact foreign capital helped fuel Vancouver’s insane prices, you’re “racist”.

And other than idalogical bent, I can’t understand why our host is so anti-Horgan. BC’s NDP premier was elected on a promise to bring housing prices back down to affordable levels. How did anyone expect that omlelette to be made without breaking a few eggs? And since Garth has argued real estate was overvalued and shouldn’t comprise one’s sole investment, why then lament the fact home prices are falling? Contradiction.

#31 SunShowers on 03.04.19 at 5:53 pm

“Naively, it seemed like a service.”

It is a tad naive, Garth. You really are better than most, though. Lots of people deny that the wealth gap even exists, or that it’s a problem. You at least see that it does and it is.

However, on your naivete, you look at how this wealth gap stretches ever wider, and conclude that the system isn’t working properly, and something is broken. The fact of the matter is, the system is working precisely as intended. The purpose of capitalism is simply to steal value from the working class who have little/no capital, and give it to those who own the means of production and/or large amounts of capital.

More and more people are realizing that the system is simply set up to work against them. Unfortunately, many of them are immensely racist. Some are probably just hateful people, some have fallen victim to the capitalist class ploy of pitting workers against each other by blaming immigrants. If workers are fighting each other, they’re not fighting the capitalists, after all.

Despite your naivete, you’re still one of the good ones though, one of the few people who went into politics because they genuinely wanted to help people. And now here you are, dispensing to people who are trapped in a system designed to crush them, free advice on how to get crushed a little slower or a little less mercilessly.

Noble intentions, but even if followed perfectly by everyone, your advice is not going to reverse the course of inequality capitalism has set us on. For that, we must do away with capitalism entirely. I think we’re going to see it in your lifetime, too.

#32 PeterfromCalgary on 03.04.19 at 5:59 pm

Justin Trudeau’s brand which was built by virtue signalling is now trashed. Hopefully, this scandal is still in the news when the election rolls around.

Unfortunately, are totalitarian Prime Minister paid off the media with a $600 million bribe so I doubt this scandal will get the attention it deserves.

https://canadafreepress.com/article/canada-prime-minister-justin-trudeau-buying-the-media-in-time-for-2019-elec

#33 Kenney Legace on 03.04.19 at 5:59 pm

This is bullish for Jagmeet and Jane Philpot for Prime Minister!

#34 MicroGX on 03.04.19 at 5:59 pm

Another great post, thanks . Please continue to share….. Its not your fault the world is full of idiots and this blog is a magnet for them.
#10 agreed

#35 Midnights on 03.04.19 at 5:59 pm

Come on Mr Turner you can smash down on Trudeau harder than this. If this was Trump you would have written your Grand Thesis.

#36 James on 03.04.19 at 6:00 pm

Although I don’t always agree with the opinions expressed here I enjoy them all the same. I find benefit in considering the thoughts of the other contributors to assess/inform my own opinions. Thanks Garth for providing this medium in spite of the personal cost.

#37 Long-Time Lurker on 03.04.19 at 6:06 pm

https://nypost.com/2019/03/03/socialisms-millennial-fans-dont-even-know-what-it-is/

OPINION EDITORIAL

Socialism’s millennial fans don’t even know what it is
By Post Editorial Board March 3, 2019 | 8:20pm |

Updated

Anyone who isn’t a socialist at 20 has no heart, but anyone who isn’t a conservative by 40 has no brain: That old epigram is certainly playing out in today’s Democratic Party.

Millennials — ignorant of socialism’s appalling economic and human-rights history — increasingly embrace socialism and its naively unrealistic prescriptions for ending all human want.

Yet so are a growing number of veteran Democratic pols who should know better, but are clearly terrified by the growing star power of the likes of Bernie Sanders and Alexandria Ocasio-Cortez. And never mind House Speaker Nancy Pelosi’s warning that “this is not a bumper-sticker war.”

Gallup reports that 57 percent of Democrats have a positive view of socialism. But do they even have any idea what they’re talking about? The same poll shows respondents supporting small business and free enterprise and rejecting the idea that government is doing too little.

And today’s Democratic socialists don’t seem to embrace the classic definition of socialism as government control of the means of production — which has traditionally meant nationalizing whole industries.

These socialists insist they don’t support repressive states like the Soviet Union or North Korea.

But Sanders and the rest refuse to say a critical word about Venezuela, which is on the brink of social and economic collapse due to socialism.

Instead, they point to Scandinavian-style socialism in nations like Denmark, Finland, Norway and Sweden as “true socialism.” One problem: Those countries aren’t socialist.

As Danish Prime Minister Lars-Lokke Rasmussen has said: “Denmark is far from a socialist planned economy. Denmark is a market economy.”

These “socialist” states have no mandated minimum wage or guaranteed jobs. Taxes are higher than US rates, but largely by making the middle and working classes pay big via the Value Added Tax — which hits consumption, not income or wealth.

True socialism, in fact, is reflected in Venezuela, Cuba and the Soviet Union. All are or were economic disasters and brutally repressive states.

Young people might be forgiven for their ignorance. Their elders should be leading — not meekly parroting them in fear.

#38 Look It's a Bird, It's a Plane - No It's a Repo Man on 03.04.19 at 6:10 pm

Beware of hookers in your neighbourhood – and not the two legged variety. You will hear lots of stories from neighbours – car went into the shop, there was a recall etc etc. etc. But you know the truth. Their loans got called!

#39 Dolce Vita on 03.04.19 at 6:11 pm

#10 Now on our own

“I’ve never really found the comment section helpful.”

Falling upon one’s own sword?

#40 The Real Mark on 03.04.19 at 6:15 pm

Interest rate announcement on Wednesday…

The data overwhelmingly supports cutting.

But will Poloz finally accept reality or not?

No cut. Of course. – Garth

#41 Ex-Cowtown on 03.04.19 at 6:18 pm

#9 ptt on 03.04.19 at 5:10 pm
How is Horgan going to balance his budget, if he can’t tax the (no longer happening) property transfers?

The Province’s cash cow will dry up.

++++++++++++++++++++++++++++++++++++

No problem. BC’ers can warm themselves by gathering ’round the ongoing dumpster fire of ICBC.

#42 The Richman on 03.04.19 at 6:18 pm

Love the nod to Barry McGuire – I can’t believe we’re on the eve of destruction…

#43 Alberta Ed on 03.04.19 at 6:19 pm

The Norman affair may be the next shoe to drop on Sock Boy.

#44 dakkie on 03.04.19 at 6:20 pm

MASSIVE Canadian DEBT BUBBLE! – The Banks Are In Trouble!

https://www.investmentwatchblog.com/massive-canadian-debt-bubble-the-banks-are-in-trouble/

#45 Phylis on 03.04.19 at 6:29 pm

The Greater Cauliflower on 03.04.19 at 4:49 pm
Ha!
Calling the PM’s principal secretary Gerald Butts a “Fluffer

As a good friend of T2, how much advice is he allowed to give since resigning? Will he just remain the man behind the other curtain?

#46 HoweStreet.com on 03.04.19 at 6:36 pm

Ross Kay on HoweStreet.com Radio:
February was a Tough Month for Canada’s Housing Market
Canadian Mortgage Debt suddenly stops growing.

https://www.howestreet.com/2019/03/04/february-was-a-tough-month-for-canadas-housing-market/

#47 KLNR on 03.04.19 at 6:39 pm

“So, good luck You’re now on your own.”
__________________________________

thanks idiots, you know who you are.
ahem, not1st, expat…

#48 Penny Henny on 03.04.19 at 6:41 pm

Time for my annual suck up.
Garth, I thank you for having this forum and for all the knowledge I have gained from this site. More importantly I am thankful for the confidence it has instilled on me to be able to invest on my own.

I’ll leave all the other stuff on a separate comment box so you can delete it. :)

#49 Penny Henny on 03.04.19 at 6:43 pm

Oh one more thing.
I don’t need no more hand holding, thanks.

#50 Home Soon on 03.04.19 at 6:47 pm

Here, here #10! Please kill the comments section!

Garth, your blog is awesome. I’ve been following for less than a year, but already the advice and info it contains has already made a positive difference in the way the hubs and I are handling our finances/planning with some major life changes coming up. Seriously thinking about sending you some flowers/whiskey.

Does it matter that you and I have some political differences? No, it does not. Does it do any good for me to shout these differences to the steerage section? Nope, not needed on this platform.

So, kill the comments! Try it for a month and see how the traffic goes. My guess is it’ll be a blip.

If someone has a good question about your topic, they can email you. These messages can sit in an inbox until you’re ready to answer in brief follow-ups if desired. Do it!

#51 Trumpocalypse2019 on 03.04.19 at 6:51 pm

Think Titanic. Dino-incinerating asteroids. The black hole.
————————————————————-
Exactly.

And the Dems in Washington just put a knife to Trump’s throat.

https://www.cnn.com/2019/03/04/politics/congress-investigates-obstruction-justice-jerry-nadler/index.html

11 DAYS TO THE IDES OF MARCH!

PREPARE.

#52 BlorgDorg on 03.04.19 at 6:53 pm

A belated thanks for the free insight into rebalancing for what’s shaping up to be a crazy 2019. As others have said, many of us appreciate your tips on positions and weightings. And chiseled abs, I suppose.

If the deplorables are getting to you again, just shut down the comments altogether for a while. Take away their toy, let them go spew poison elsewhere. Meanwhile you take Bandit for a nice long walk. The rest of us will still be reading.

#53 Shawn Allen on 03.04.19 at 6:55 pm

Nasty Comment from the retired crane operator

#28 The real Kip (Ret) on 03.04.19 at 5:51 pm
“She has “serious concerns” regarding the pressure the Trudeau gang put on the former attorney-general to intervene”

Couldn’t have been that serious. She stayed in caucus to sit as a Lib MP ensuring her snout is still in the trough and the pension is safe.

****************************
I don’t remember kip being nasty like this.

JWR and Philpott were elected as liberals and intend to serve out there time.

Did Kip ever quit a paid job on principal?

Besides don’t you think JWR and Philpott would be scooped up by any number of major law firms in a heart beat?

The time to question the MP pension plan is when it is being debated or reviewed. It strikes me as very rude to suggest that an MP simply taking his or her salary and pension and any other compensation is “at the trough”. How can you say that after the service JWR did the country last week and Philpott this week?

I commend the ethics both have shown.

#54 Dolce Vita on 03.04.19 at 6:56 pm

They’re Liberals Garth.

First sign of trouble they EAT THEIR OWN and then CUT AND RUN.

Looking forward to August when the Vice Admiral Norman trial begins with ace litigation lawyer Marie Henein. Conveniently timed at the start of electioneering.

Henein threatening to subpoena God & Country (Henein is also seeking records from Prime Minister Justin Trudeau’s office and the Privy Council Office about the case itself to prove Norman’s innocence).

2-bits and a cup of coffee says Lametti will “EXPERIENCE IT DIFFERENTLY” than JWR would and cut a deal in the nick of time before the case goes to trial and makes the MSM headlines 2 months before election day.

Once bitten, twice shy.

#55 Rexx Rock on 03.04.19 at 6:57 pm

The only way T2 is going to lose if maybe he’s caught drinking and driving and kills someone or another alleged groping incident.We all know our goverment is a bunch of crooks and liars.Its just part of the job as an mp so its no big deal of all these scandals.

#56 ImGonnaBeSick on 03.04.19 at 6:59 pm

#31 SunShowers on 03.04.19 at 5:53 pm
______________________

Please, enlighten us on your viable alternative to capitalism. I need a good laugh.

#57 the Jaguar on 03.04.19 at 7:04 pm

Garth, you scamp. How could you squeeze Rachel Notely’s name on to that list of ‘no hitters’? You forget that despite the stereotype of Albertans as wildly Conservative , Edmonton has always been ‘red’ to the core. They love Rachel in Deadmonton, and there are enough young urban newbies elsewhere in the province to pick up more of the slack. Albertans are deeply sentimental. It’s a classic David and Goliath scenario. We have survived oil downturn, two massive forest fires, attacks and betrayals from friends (supposedly, unless you know the morally bankrupt BC population) and foe alike! Rach has been there everyday, fighting for her homeland. The death of Jim Prentice was an olive branch of sorts. He was so very respected. Albertans will not forget that. You’ll see.
But this Philpott business! Can it be that we are entering a new age of enlightenment? People standing up for values once thought lost to another age. The Jag is transfixed to say the least.
Please also elaborate on your final comment. Are you only taking your finger off the delete button? Is it saturday night at the Roman Colosseum? Or does it mean you will move the finger from the delete button to the ‘banned’ button….?

#58 AK on 03.04.19 at 7:16 pm

“The first business day after a cabinet shuffle, T2 has another cabinet crisis.”
====================================
The implosion of the Liberal Party status is now a done deal. I have believed that for over a year now.

So, the next phase of this disaster to unfold will be the resignation of the clown. When will that be? I would say by the end of March…..

#59 Social Democracy on 03.04.19 at 7:16 pm

For all those here who think comparing Canada to Venezuela, Cuba or the Soviet Union is an intelligent argument, or get a kick out of calling John Horgan “comrade” or thinks that Justin Trudeau is a totalitarian leader (wow), or warns young people of the evils of socialism; I have a real factual definition of social democracy right here for you:

“”Social democracy is a political, social and economic ideology that supports economic and social interventions to promote social justice within the framework of a liberal democratic polity and a capitalist economy. The protocols and norms used to accomplish this involve a commitment to representative and participatory democracy; measures for income redistribution and regulation of the economy in the general interest; and welfare state provisions. Social democracy thus aims to create the conditions for capitalism to lead to greater democratic, egalitarian and solidaristic outcomes. Due to longstanding governance by social democratic parties and their influence on socioeconomic policy development in the Nordic countries, in policy circles social democracy has become associated with the Nordic model in the latter part of the 20th century.””

There you go. Write it down!
OR continue to blindly make ignorant arguments about socialism as if the true and actual definition does not exist and is literally at your fingertips.

Instead of making things up to suit your narrative, put down your keyboard and learn something.
You and this country will be better off if you educate yourself about what it is you so vehemently criticize.

You’re welcome :)

#60 Northone on 03.04.19 at 7:17 pm

Love your blog! Keep going!

#61 ADAM on 03.04.19 at 7:18 pm

Garth, please don’t be discouraged by your loudest, most frequent, and idiotic commenters.

The (silent) majority of us get huge value from your input.

#62 Dolce Vita on 03.04.19 at 7:21 pm

Garth:

It’s the Internet + Attention Deficit Hyperactivity Disorder.

Where people, forgetting that the average IQ of humanity is 100, become instant Medical Doctors, Economics Theoreticians, Investment Guru’s at the click of a mouse reading necessarily short enlightening articles with gravitas.

Click bait at its best designed to appeal to:

Self-aggrandizement. Ego. Pride. Narcissism.

Instead:

Caveat Emptor.

Why I come to your Blog to learn and at times debate (with facts well accepted in the Public Domain).

DON’T DESPAIR Garth. For every 1 naysayer here in the Comments section there are 10 that pay close attention to what you have to say and do not Comment – the Silent Majority.

For them, FORGIVE & FORGET and keep being your UNSINKABLE SELF.

-Buonanotte Garth e Ciao di Recessione Italia.

#63 AlMac on 03.04.19 at 7:24 pm

Thanks Garth for providing valuable investment advice yesterday. As for ‘… the lingering stench of weed…’, it is the smell of money for growth investors.

#64 not 1st on 03.04.19 at 7:25 pm

This is as honest assessment as you are going to get of this current govt.

https://www.capebretonpost.com/opinion/columnists/david-delaney-political-weakness-reveals-a-farce-289202/

#65 Roial1 on 03.04.19 at 7:26 pm

37 Long-Time Lurker on 03.04.19 at 6:06 pm

True socialism, in fact, is reflected in Venezuela, Cuba and the Soviet Union. All are or were economic disasters and brutally repressive states.

“Brutally repressive states”

are the antithesis of socialism! The examples you cite are TOTALITARIAN STATES. Army and secret police run them

Having been to Denmark and Sweden I can assure you that they are socialistic states. They are also capitalistic.
They have found a way to be both at the same time.
They temper “Greed” by having a GOOD education system. FOR ALL. They teach MORALS in school.
Something somewhat lacking here. (someone might be offended if morals taught here) Their taxation system has been balanced and made FAIR unlike here where the lower paid workers are taxed the heaviest COMPARED to income. (our GST and PST+income taxes)
In Denmark wages are so high that it made my eyes water at the prices of every day items like rent and food that they are used to.
I saw only ONE person sleeping in the street in two weeks there. (he Was drunk) I saw none in Sweden.
Now tell me about the streets of Canada and how many you see EVERY DAY in your streets.

#66 Dave on 03.04.19 at 7:26 pm

The BC Liberals due to corruption and incompetence allowed Vancouver to become unafordable, turning a blind eye to speculation and money laundering, even taking realtors on trade delegations to China and you are criticizing Horogan because he’s trying to make housing affordable?

#67 Midnights on 03.04.19 at 7:28 pm

Trudeau’s going out theme song…
https://youtu.be/A_sY2rjxq6M

#68 Timmy on 03.04.19 at 7:29 pm

People aren’t being anti Chinese, but you are sure doing your best not to offend them. Maybe you can get MCallum’s former gig.

#69 Debtslavecreator on 03.04.19 at 7:30 pm

Mattamy is creating a vehicle to protect the ill gotten gains
I have nothing against billionaires and people who make a lot of money however mattamy and most of the builders are knowingly building garbage buildings that they know will not last more than 10 years without massive repairs and issues
Absolute garbage
By placing assets into an asset management company he can get assets held by a custodian and make it a lot harder to lose
Smart cookie that ass
In 5-10 years when many mattamy and other builders recent “owners” cry foul and try to sue these crooks good luck !

#70 not 1st on 03.04.19 at 7:30 pm

#59 Social Democracy on 03.04.19 at 7:16 pm

200 yrs of history says otherwise no matter how you twist the definition.

Every version of socialism ends in bloodshed because it demands utter fealty to the state and is eventually backed by force and genocide. You should open a history book instead of lecturing.

You have solid social programs in Canada that ensure you have medicine, welfare, almost free education and equality of opportunity. What more do you want? we are not equal and you don’t deserve the fruits of someone else’s risk.

#71 acdel on 03.04.19 at 7:31 pm

#50 Home Soon

People like you amuse me. Kill the comment section you say, why put up with this? But yet you read the comments everyday. Why??

Here is a little advice, read Garth’s blog, not the comments.

#72 yorkville renter on 03.04.19 at 7:31 pm

I got February’s auto sales metrics today … ugly.

“Days to turn” is now well into 90+ days for new cars.
It’s the worst I’ve seen, but I’ve only tracked it for about 4 years.

Still… it’s much higher on a percentage basis.

Canary in the coal mine…

#73 Some guy on 03.04.19 at 7:34 pm

Hey Garth,

I just wanted to say thanks for updating this blog almost daily for years now. I’ve learned alot and I feel like its actually helped me in my life.

Theres not many people I admire but I have to say you are one of them. I will genuinely be sad once this blog comes to an end.

#74 Agreeable Sort on 03.04.19 at 7:35 pm

Garth,

Most passive followers do not interact with the blog – so keep up the good work knowing the masses are out there soaking it up – silent as they are.

Please keep up the good work …. please, pretty please ….

#75 acdel on 03.04.19 at 7:38 pm

#55 Rexx Rock

You know Rexx I hope that you are wrong. T2 was never fit to be P.M..

Whatever party one affiliates with I think that most of can agree that the current system is broken and very out of date. Too many suffer for terrible decisions made everyday by the ones in power. Media certainly has played its roles in all this. Clear mandates are a farce!

#76 Social Democracy on 03.04.19 at 7:46 pm

#70 not 1st on 03.04.19 at 7:30 pm

The definition was merely provided, not twisted.

I see your choice is to make things up to suit your narrative! That’s fine :)
Your posts are hilarious in the way that a screaming child who isn’t getting it’s way is hilarious, so please keep giving us all a laugh!

#77 Unhinged Trader on 03.04.19 at 7:46 pm

DELETED

#78 Nonplused on 03.04.19 at 7:50 pm

This comment is off topic for today, but we have discussed the implications of it before.

Artificial Intelligence

As you may be aware, some serious people have made claims that AI posses a serious risk to all of our jobs and possibly mankind, whoops “peoplekind” itself. Think of the Terminator or Matrix movies.

But then I asked myself “What is intelligence? Is it IQ? Is it the ability to communicate? No, it’s certainly not the ability to communicate based on what I see on the news and Facebook. Is it the ability to accomplish a certain pre-planned goal? Does that make a bee intelligent? Is it self-awareness? Are people really self-aware? What about dogs?”

Then it dawned on me, there probably is no recognizable distinction between a computer that performs a certain task without being “intelligent” and one that is supposedly “intelligent” and does the same task. The distinction is irrelevant. Computers can already drive cars, fly planes, speak and mostly understand speech, recognize a song, store and process reams of data, far more than a person could, diagnose illness, perform surgeries, all kind of stuff. The Google car is a better driver than most people. More polite too. And the list of things computers can do grows longer every day. Even a tiny little computer can send you a photo when someone comes to your house. All of this without being “intelligent”. So do we really need AI? If we figure it out, does it change anything?

Some people really are intelligent. For example Einstein did a whole lot of thinking to come up with E=mc^2. But now everybody knows it. You see the proofs in first year university physics. But that is not how most technology is developed, technology mostly “iterates”. That means it goes from MS Dos to Windows 10 in stages. Otherwise why didn’t Microsoft just start with Windows 10 and save a bunch of time? Well, it’s because they weren’t intelligent enough to do it all at once.

So I think a case could be made that technology and society itself are the result of iterative trial and error process more than intelligent design, much like the evolutionary processes found in nature.

Years ago already I read a Scientific American article by a dude who had hooked a random generator up to a circuit simulator (yes, those exist, electronic components are so mathematical that a computer can simulate them) and then a testing algorithm at the end. So what he did with his software gizmo is input the end result for how he wanted the circuit to behave and then let a process of random mutation plus “survival of the fittest selection” go to work over thousand of iterations. The dang thing was surprisingly good at developing circuits, except that sometimes they would have “appendages” (a component that was only connected by one wire and didn’t do anything, but probably did in earlier iterations).

If my thinking is correct, it means that technology will continue it’s forward march and do more and more, even if we never develop true AI or machine learning. It won’t be necessary.

It also has some implications in the world of politics and society. It means society is evolved much more so than it is designed, with a few key points where intervention by design may have changed the course of things, but not always for the better. Those interventions could be viewed as random changes, some of which like capitalism and the US constitution proved more successful than others like socialism, and thus survived. If this is true, we should be very wary of politicians who propose sweeping reforms like AOC. She’s more likely to kill the host than improve it. We should be looking at small changes so that if it isn’t successful it can be reversed before we are all dead.

This is why AOC’s “Green New Deal” and other ideas like it are so dangerous. Sure, we have to get off fossil fuels one way or another, but does she really think there is technology just sitting on the shelf ready to be deployed on mass that can get us there in just 10 years? How did the powers that be keep it secret? Why did they keep it secret? Why wouldn’t our rich and powerful overlords just make money off that instead of fossil fuels? So the problem is not that the GND is a bad idea, the problem is we don’t have the technology to implement anything of the sort just yet. There is stuff in the pipeline (like Gen IV nuclear), but it isn’t going to be ready to power the world in ten years. We might have a working model by then and know how to build them but it’s going to take a long time to build out the system. But that isn’t going to happen if the GND kills the economy first.

#79 expat on 03.04.19 at 7:50 pm

#59 Social Democracy

What you fail to understand is this.

All the dreams of your glorious socialist model of harmony, kindness, cuddles and economic greatness are based on one thing..

That the government in power rules with the same values in perpetuity…

History is your guide since you refuse to use it. Every socialist nation fails….

You can mix the % of capitalism to socialism all you want.

Eventually the glad handing govt officials overwhelm the capitalist part of their system with higher and higher taxes to pay for their entitlements.

Each one of your nations has monstrous debt…
Companies and capital flee to protect their wealth and profits and all tat is left is government boated unionized state enterprises that fold for instance as the commodity they mine drops in price.

Oil for instance. The govt hedge fund in Norway is not the wealth fund it was. Prices collapsed.

You have no practical assumptions in your argument. You quote a textbook.

The Russian revolution was great until a small group gained power and enslaved everyone else….

Here are some whatifs –

That your leader doesn’t decide to destroy the law of the country to allow a criminal company to skirt criminal trial…

That the elites who control all the political parties in the country decide to simply switch power every now and then make the country look democratic.

That the corporate elites of the country don’t give the parties billions in donations to make laws which benefit them exclusively..

Finally, that the leader of country doesn’t decide that anyone who is different than he/her decide to imprison his/her enemies…..

Those things above are in your country now…
Yet you fail to even notice or reference them.

Thus your argument is useless since you don’t even know your live under a socialist regime that controls everything around you…..

You are controlled fool. In spy work they call the Useful Idiot

You are welcome.

#80 Duke on 03.04.19 at 7:51 pm

#71 acdel on 03.04.19 at 7:31 pm
#50 Home Soon

People like you amuse me. Kill the comment section you say, why put up with this? But yet you read the comments everyday. Why??

Here is a little advice, read Garth’s blog, not the comments.

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

True. She doesn’t have to click on ‘Comments’ and doesn’t even have to bother. There are many people with the same mentality. That’s sad.

Comments are the best part of this blog. Period.

#81 Islander on 03.04.19 at 7:56 pm

Garth..time for a holiday! May I suggest fun in the sun -unplugged in a quasi remote area with your nearest and dearest.
Always grateful for your sage advice.

#82 AK on 03.04.19 at 7:56 pm

#55 Rexx Rock on 03.04.19 at 6:57 pm
“The only way T2 is going to lose if maybe he’s caught drinking and driving and kills someone or another alleged groping incident.We all know our goverment is a bunch of crooks and liars.Its just part of the job as an mp so its no big deal of all these scandals.”
====================================
Well, guess what. T2 will have long resigned by election date.

#83 Tim on 03.04.19 at 8:00 pm

“You’re now on your own” – oh no! I was afraid this day will come.
I’ve been reading this blog almost daily for several years and, besides the pleasure of enjoying great prose, it has given me invaluable advices about saving, investing, prudence and life in general. I do hope it has moved me closer to a day when I would actually be able to afford to be your client :)
But every mention of comments section makes me wonder. No, not how rude, ungrateful, limited and obnoxious people can be. But rather – why tolerate? Just turn it off completely?
I don’t know your numbers, but would guess only a small fraction of visitors opens the section at all. Let alone comments. And between those, most probably don’t add any value at all.

Alternatively – allow responses to comments, like youtube and FB. Then battle trolls can engage each other without polluting main thread that much.
Or maybe enlist the power of AI – train a small ML model to automatically flag offensive comments. With many thousands you’ve already banned over the years – you should have enough marked data for it.

#84 Borden Renter on 03.04.19 at 8:05 pm

Half of the reason I come is here is for the comments, so I hope they stick around.

I love what you do, Garth, but the steerage section ads a certain flavour to this place. From the alt-lite to the proto-commies. It’s certainly entertaining.

Did anyone else notice the dip in the markets today? Wonder where we’ll be at the end of the week… I may have pulled the last of my dead-end mutual funds just in time.

#85 acdel on 03.04.19 at 8:07 pm

What do dogs think? For me personally I think that she is on to something. Good idea..

https://globalnews.ca/news/5020730/south-dakota-governor-keystone-pipeline-protests/

#86 Silent the people on 03.04.19 at 8:12 pm

Garth, perhaps a turducken of quotes before you bow out!

#87 Sask to AB on 03.04.19 at 8:13 pm

Garth we appreciate your advice and help so very much. Don’t let the bastards get you down.

#88 crowdedelevatorfartz on 03.04.19 at 8:15 pm

@#78 Nonplused = Minus

You had me at, “This comment is off topic for today….”

scroll….., scroll…. , scroll…..

#89 Social Democracy on 03.04.19 at 8:16 pm

#79 expat on 03.04.19 at 7:50 pm

Practical assumptions for what argument?
Each one of whose nations has monstrous debt?

America has a monstrous debt. Go ahead and look that up :)

Your tactic is clearly to type out random baseless points to formulate a narrative like your pal Not1st.
That’s great! :)
You give all of us critical thinkers a good chuckle.

#90 capitalist on 03.04.19 at 8:19 pm

#59 Social Democracy

You quote a textbook?
You live in a Social democracy? Did you not know this?

Horgan is a communist BTW, so the moniker fits.
Trudeau with his dealings with the JWR has shown clearly that his belief system is he makes the rules and everyone follows….

Laws mean nothing to him. That should scare you, not embolden you.

That is could be a called dictatorship in any other country.

How’s it working for you?
This Canada?
You are not happy?
What’s next – take everyone’s wealth?

You aren’t a wealth creator because if you were you would running for the hills.

As a wealth creator I got tired of paying for you and your friends and went to place that appreciated wealth creators….

Good luck to you.

#91 Interstellar Old Yeller on 03.04.19 at 8:19 pm

I found your portfolio advice yesterday interesting and valuable. On your previous advice I don’t really read the comments section anymore… Maybe it’s time some hapless intern did the moderating and only passed along to you the good comments?

#92 100 million dead on 03.04.19 at 8:19 pm

Socialisum resulted in 100 million dead. End of discussion.

#93 Derrek Druin on 03.04.19 at 8:20 pm

Sorry Everyone, The comments from the peanut gallery are the price we have to pay to have a blog like this. If you don’t like the comments, you don’t have to read them. But if you take the comments section down, less people will read the blog because they can’t speak “their truths.” Plus, Garth loves them to some degree?

P.S. Nice to see Liberals standing up for what’s right in this country!

#94 NoName on 03.04.19 at 8:20 pm

@ #10 Now on our own on 03.04.19 at 5:10 pm

Now i am wondering what would happen what I wou do with all my spare time if comment section is gone. After long and hard tought i realized that my nolife would be even more boring than it is now.

Yes i don’t get out much, my phone told me today that i spend last month 68 hours in a car commuting. Luckily there is no carbon tax on unproductive breathing, at least now yet anyways.

As realty continue to ruin my life, and my perpensity to post stupid stuf more often than not gets me in trouble every once in a while, but in my houmble opinion, preposterous ideas that i get from comment section, do tend to produce surprisingly good outcomes regardless how outdere they are. Yes, reading comments is often tempestous but it is also rewarding every so often, at least for me…

There we find our self in predicament.

#95 Mountain guy on 03.04.19 at 8:21 pm

More from one of the silent majority who don’t comment but do very much appreciate the wisdom in your blog. I don’t agree with all you say, but always appreciate and respect your well balanced perspective. Thanks Garth for providing valuable investment advice yesterday.

#96 capitalist on 03.04.19 at 8:25 pm

#59
Hey social democracy this makes your socialism a little suspect since this weirdo is the poster child for it..

Isn’t she your groups hero?

Freshman Rep. Alexandria Ocasio-Cortez (D-NY) is pushing back against critics of her unnecessarily giant carbon footprint.

The self-proclaimed “boss” of the progressive movement has been branded a hypocrite after the New York Post revealed on Saturday that despite championing the “Green New Deal” which calls for the elimination of fossil fuels – AOC and her staff have relied heavily on combustion-engine cars, racking up $29,365 in car services such as Uber and Lyft “even though her Queens HQ was a one-minute walk to the 7 train.”

Most of the flights came after her primary win gave her superstar status and Ocasio-Cortez spent weeks jetting around the country, burning fuel to support her fellow Dems.

That despite her ultimate goal of building “high-speed rail at a scale where air travel stops becoming necessary” — part of her Green New Deal mentioned in an FAQ she posted to her official website. She later called the air travel reference a mistake. The resolution now before Congress doesn’t mention air travel. -New York Post

Socialism’s wonderful until they run out of others peoples’ money…

#97 not 1st on 03.04.19 at 8:26 pm

#65 Roial1 on 03.04.19 at 7:26 pm

Now tell me about the streets of Canada and how many you see EVERY DAY in your streets.

—-

Maybe we can get some of that $20B skippy gave away to foreign dictators to use for our homeless population and ailing vets? So should we virtue signal to the UN or take care our own people. Simple questions.

#98 the ryguy - In cabo on 03.04.19 at 8:29 pm

Apparently I have to go back and read the comments yesterday!

Take a vacay Garth, make your porsche driving gucci gang do some of the heavy lifting..hell I even have room for you on the beach house in cabo.. lets just agree ahead of time to not discuss…well..you know who :)

No bad days buddy

#99 bsallergy on 03.04.19 at 8:32 pm

Always happy to get your advice.

#100 j.stein on 03.04.19 at 8:33 pm

Why do you lament about the state of the market? Yes, it is falling and rightfully so… there should be hope for people wanting IN, shouldn’t there? When market forces alone were not enough to bring this runaway market down government stepped in… same thing happened on the way up… so much so for the manipulated “FREE” market.

#101 Ex-Cowtown on 03.04.19 at 8:33 pm

#51 Trumpocalypse2019 on 03.04.19 at 6:51 pm
Think Titanic. Dino-incinerating asteroids. The black hole.
————————————————————-
Exactly.

And the Dems in Washington just put a knife to Trump’s throat.

https://www.cnn.com/2019/03/04/politics/congress-investigates-obstruction-justice-jerry-nadler/index.html

11 DAYS TO THE IDES OF MARCH!

PREPARE.

+++++++++++++++++++++++++++++++++++

So…. Mueller, with two years and unlimited resources couldn’t find anything, but a few over the hill codgers armed with Geritol are going to get to the bottom of it all.

Yeah…. right.

The scariest part of this whole debacle is how Congress is weaponizing itself against a man who’s outrageous, unforgivable crime was winning an election.

Compare that to Watergate for a second; there was an actual crime (break and entering) that eventually led to Nixon’s door.

In the Congress’s case Mueller could not find an originating crime, and only created crimes by trapping people into doing dumb stuff after the fact. Unlike Watergate, there was no Original Sin.

I’m now waiting for Congress to form a Special Counsel to investigate Mueller to see how Trump bought him off. Trump must have bought him off, see??? There’s no way that there’s nothing there, see???

Think that’s crazy? Just wait.

#102 Ustabe on 03.04.19 at 8:35 pm

Hello fellow Canadian person.

I too, am concerned with the political landscape in [insert your country name]. Allow me or one of my 300 alts originating from an overseas location to help you align with a party mutually beneficial.

I look forward to a thread of pleasant comments and mutual respect.

#103 not 1st on 03.04.19 at 8:39 pm

#76 Social Democracy on 03.04.19 at 7:46 pm


I am all ears. What version of social democracy do you advocate. We already have the NDP. Are you more left than that? It is it like the new green deal?

Enlighten us and pls provide a cost estimate and where that money will come from?

I will kindly point out, when personal responsibility is eschewed, societies usually fail.

#104 Terry on 03.04.19 at 8:46 pm

“Naively, it seemed like a service. But it didn’t jive with the narrative of those who live in a black-&-white world. The DELETE finger was busy.”

“So, good luck You’re now on your own.”

Yesterday was a great post Garth. the 60/40 portfolio prescribed for your clients does work. There are however many other ways to make money with investing. Everyone is different and everyone will have a different investment style that is the best fit for them. My total portfolio consists of many investments and asset classes including holding physical gold and silver. When you have the means diversify everywhere. Holding physical metals is still a store of value in an uncertain world. Diversification, a little bit of this a little bit of that etc….. while continuing to grow your retirement income is the key to extended wealth creation.

#105 Oakville Sucks on 03.04.19 at 8:53 pm

I don’t know why people are so upset about the rebalance ratio. Greaterfool.ca should be only one place where one gets information to review objectively for oneself before making a decision for YOURSELF.

I read numerous sites like these. I frequently don’t agree with statements but at the same time often agree with others.

Some of my “trusted” sources often have information that MSM doesn’t write about for 6-12 months after the fact…that’s Ancient HISTORY!

#106 Steve on 03.04.19 at 8:55 pm

Nooooo, I love the portfolio insights and updates you give. I rebalanced today, and put 5% cash on the side.

Thanks for your free of charge service. It’s rare nowadays.

#107 Stan Brooks on 03.04.19 at 8:56 pm

#69 Debtslavecreator on 03.04.19 at 7:30 pm
Mattamy is creating a vehicle to protect the ill gotten gains
I have nothing against billionaires and people who make a lot of money however mattamy and most of the builders are knowingly building garbage buildings that they know will not last more than 10 years without massive repairs and issues
Absolute garbage
By placing assets into an asset management company he can get assets held by a custodian and make it a lot harder to lose
Smart cookie that ass
In 5-10 years when many mattamy and other builders recent “owners” cry foul and try to sue these crooks good luck !

Not sure about this particular builder.

But in most of the new housing areas the construction is pure garbage. Shaking floors, pipes freezing and breaking in the winter, good looking but low quality kitchen cabinets, leaky cheap roofs. Houses built 1 m next to each other with no back yards.

All of the new condos are small, noisy, low quality glass external walls, crappy insulation, thin inner walls, there are repairers specializing in fixing only condo kitchens that literally fall apart in 3-5 years.

Everything is built to last until warranty is over, sometimes it does not make it even that far.

And the beauty of it is that the sheeple is overpaying 3-5 times the actual value, engaging in bidding wars for pure shit quality.

Fraud everywhere, in politics, housing, mortgages, interest rates, pensions, the bad thing is that it seems everything is actually starting to fall apart at approximately the same time, so the perfect storm is gathering upon us.

The real hit will be when they start to tax those beautiful nest eggs – investments and practically renege on pension obligations. CPP /OAS will be indexed at 1-2 % in the next 20 years with cost of living increasing at 8-10 %, resulting in 1/4 of current real benefits – around purchasing value of current 250 bucks for max CPP in return for 40 + years of 400 $ + monthly contributions by both employer and employee.

Max CPP called ‘pension’ can not rent you 1/2 of 1 bedroom condo in large city, utilities excluded.

And Wall Mart is firing their greeters so good luck retirees.

As for savers – my condolences for being prudent, the prudent always take it for the rest.

#108 Mike on 03.04.19 at 8:58 pm

JP’s thoughts on Trudeau are bang on:

https://www.youtube.com/watch?v=Ah1WGYv3yhs

#109 MF on 03.04.19 at 9:02 pm

#90 capitalist on 03.04.19 at 8:19 pm

“As a wealth creator I got tired of paying for you and your friends and went to place that appreciated wealth creators….”

-An arrogant post.

In 2008, nearly 1 Trillion of your “wealth” was created by the big bad government to prevent an entire system wide collapse.

Remember?

Now I’m definitely no “socialist”, but hearing all these Americans boast about their raw capitalism is laughable, since a mere ten years ago their entire country and economy was on its knees.

MF

#110 Stan Brooks on 03.04.19 at 9:03 pm

A friend of mine spent over 50 k on insulation, doors and windows replacement on his house 3 years ago only to see significantly increasing electricity bills ever since, increasing assessments and taxes.

Taking on a porcupine with naked behind is not easy.

#111 Ace Goodheart on 03.04.19 at 9:03 pm

I think you’re fighting with ghosts.

#112 Fluorine on 03.04.19 at 9:04 pm

Close comments. There is some wheat in there, but it’s far outweighed by the chaff.

Or, only allow original dog picture posts.

I’d be fine, either way.

~Flu

#113 Headhunter on 03.04.19 at 9:13 pm

#savecommentsection

It rocks.

#114 Robert Ash on 03.04.19 at 9:15 pm

I have enjoyed the Blog and Comments section, for a while now… I hope Garth will continue, and if there are folks that are offended occassionally, why not just skip clicking on the Comments area…. I feel this Blog is a great source of informal education. I like the Links, that are provided, and offer other insights into issues, financial and political.
Your Blog, and Effort, and hard work, is helping a lot of younger readers, and sadly there is not a lot of effort in our School systems, to do this…. We need objective commentary on Fiscal, and Investing for our Futures, today more than at any other time… I feel most readers, are appreciative of all efforts, and interests in this site.

#115 Randy on 03.04.19 at 9:17 pm

Should have taken Garth’s advice and bought real estate in the Southern U.S. after the last bust when our Cdn dollar was still worth something… Freezing my ass off in Ontario.

#116 genbizx on 03.04.19 at 9:22 pm

Opening a comment section is risky but hats off to you for allowing free speech Garth. To be sure there are a few who go way too far and lose track of the fact that you are offering your time and experience to be of some help to complete strangers. I appreciate this and hope you will continue…I don’t always agree with your perspective on certain issues but I respect that you put your views out there in spite of the risk and work comment section entails

#117 Lost in Abbotsford on 03.04.19 at 9:26 pm

In addition to the tens of thousands who will be underwater soon, there are tens of thousands of young people who will now rejoice that they took heed of your sensible warning and did not buy in the last few years. It will take at least a 40% drop to bring houses into the buying range of genuine Canadian wage earners. Market price up 100% in 10 years — down 40% seems about right (net 20% increase in 10 years.)

#118 sko on 03.04.19 at 9:27 pm

“Naively, it seemed like a service”

—-

I printed it out. So, thank you.

#119 acdel on 03.04.19 at 9:31 pm

#108 Mike

Great link! I think that all men, women, and all others ( absolutely no offense intended) should watch this.

He speaks the truth, if you are going to run a country and represent all individuals then only the best qualified should run it whatever your gender.

#120 yvr_lurker on 03.04.19 at 9:35 pm

Am not a fan of Trudeau. Not at all deserving of his position; highest level was a Master’s Essay student in Education at UBC. The weakest possible graduate degree. Is proving to be no different than the usual corrupt leadership, except not nearly as clever.

However, Horgan (and Carole James) are doing what they promised to take on; trying to make this province more affordable for the LOCAL citizen and for the next generation. His Gov’t has very strong approval ratings, and has a great chance to stick for a second term. Don’t think he is a one-term wonder. Has my vote, and those of my friends, 100% (and we are all homeowners that actually care about the next generation).

#121 Post on 03.04.19 at 9:37 pm

“Brison. Butts. JWR. Philpott”
——————————————————–
You forgot John McCallum.

#122 acdel on 03.04.19 at 9:37 pm

#80 Duke
:), and of course all the wise wisdom Garth and his hosts provide to us as well.
Thank you to all you crazy dogs out there. :)

#123 Yankee Canuck on 03.04.19 at 9:37 pm

Hi Garth,

I just wanted to let you know that I really enjoyed your post yesterday and find the info extremely useful. I screen shot the posts with the 60/40 info and have created a file for reference. Thanks.

I also want to let you know that I really enjoy reading your writing. The content is valuable and you also write well and I laugh. Thanks again.

I have stopped reading the commments. I feel good after reading yours, but I feel like I want to throw up after reading steerage. And I will not be reading comments after you post this.

M49NH

#124 Post on 03.04.19 at 9:41 pm

How about the Chinese now questioning Canada’s judicial independence? Go justin go!

https://nationalpost.com/news/canada/china-has-questions-for-canada-on-judicial-independence-after-hearing-jody-wilson-raybould

#125 NotLegalAdvice on 03.04.19 at 9:43 pm

#81 Islander on 03.04.19 at 7:56 pm
Garth..time for a holiday! May I suggest fun in the sun –

_______________________

Agreed!

Mexico is the place to be!

#126 Post on 03.04.19 at 9:45 pm

“Justin Trudeau, imposter” – Maclean’s

https://www.macleans.ca/politics/ottawa/justin-trudeau-imposter/

#127 Trevor Falconer on 03.04.19 at 9:47 pm

Garth, thanks for all that you do. I love coming here to read and learn. If you want my advice, don’t let a comment section ruin a good thing.

#128 Coty on 03.04.19 at 9:51 pm

I too am one of the silent majority who tune into your invaluable blog religiously. I can’t begin to explain how much value your blog adds to my day, and my bank account. it’s refreshing to hear a public voice preach the virtue of a balanced life, and of course a balanced portfolio. You write with thought, and poignancy. They write with anger and discrimination. Please dont let them get you down.

#129 TRUMP 2020 on 03.04.19 at 10:05 pm

IMPEACH TRUDEAU…..!!!!!!!!!

THE BIG FAKE…………..

#130 cultural elitist on 03.04.19 at 10:26 pm

Regarding the general knee-jerk arrogance that poisons our public discourse online, we all need to work on developing our intellectual humility.

It’s an old story. In 1859, John Stuart Mill made these remarks:
“While every one well knows himself to be fallible, few think it necessary to take any precautions against their own fallibility, or admit the supposition that any opinion of which they feel very certain, may be one of the examples of the error to which they acknowledge themselves to be liable.”

It’s worth reading the whole thing in full.

Conversation is social; it’s not a war. We can try to score cheap points against one another by labeling, bullying, insults, whatever — or we can assume goodwill, and maybe learn something from each other. None of us is infallible.

Thanks is due to all posters who choose to be civil, and extraordinary gratitude is due to Garth for the numerous public services he provides on this platform. Not the least of which is filtering comments.

#131 NFN_NLN on 03.04.19 at 10:29 pm

Garth, what are your thoughts on foreigners owning businesses in China, or speculative real estate in China? How about just owning yuan? Surely we can hedge by buying yuan since it’s freely traded?

https://www.export.gov/article?id=China-1-Openness-to-Restrictions-Upon-Foreign-Investment

“Foreign investors report a range of challenges related to China’s current investment climate, including: broad use of industrial policies to protect and promote state-owned and other domestic firms through employing subsidies, preferential financing, and selective enforcement of laws and regulations; restrictions on controlling ownership of foreign entities through equity caps, limited voting rights, limits to foreign participation on companies’ board of directors, etc.; weak protection and enforcement of IPR; corruption; discriminatory and non-transparent anti-monopoly enforcement; excessive national or cyber security requirements; and an unreliable legal system lacking transparency and rule of law. The 2015 Anti-Terrorism Law, the Foreign Non-Governmental Organization (NGO) Law, the Cyber Security Law, and other measures impede local Chinese firms (especially banks) from purchasing foreign technology, raising concerns that China has back-tracked on reforms to further open up to foreign investment.”

Nice of you to call anyone who questions policies here a xenophobe. The Chinese government doesn’t sell out its citizens and so easily, must be nice.

#132 dr talc on 03.04.19 at 10:46 pm

the huawei thing is fake news
it’s a smartphone commercial
in global trade, at that level, there are no ‘rogue players’,
none
everyone wants the latest greatest trophy phone, contraband? more so

#133 Out Of Work CEO, Will Travel on 03.04.19 at 11:04 pm

Weed does stink up the joint. Mattamy is big here in Tucson with over eight developments scattered all over the high, high end of the Tucson suburbs. Normally Canada gets little play on the news but Fox played the “Trudeau angle” front and centre on Saturday which made me feel patriotic. I love you guys.

#134 Ponzius Pilatus on 03.04.19 at 11:11 pm

DELETED

#135 not 1st on 03.04.19 at 11:13 pm

oh no, its a climate disaster. Please raise your carbon taxes immediately.

https://www.ctvnews.ca/sci-tech/world-added-an-amazon-s-worth-of-greenery-in-2-decades-nasa-1.4321918

#136 SunShowers on 03.04.19 at 11:16 pm

#56 ImGonnaBeSick on 03.04.19 at 6:59 pm
______________________

Please, enlighten us on your viable alternative to capitalism.

Publicly funded essential services (like what we have now with healthcare, K-12 education, and some utilities, but expanded to include post-secondary education, public transportation, plus a modest UBI to cover basic food and shelter).

Market socialism for everything else. Workers control the means of production, and sell their goods and services on the market.

#137 45north on 03.04.19 at 11:18 pm

AGuyInVancouver: I can’t understand why our host is so anti-Horgan. BC’s NDP premier was elected on a promise to bring housing prices back down to affordable levels. How did anyone expect that omelette to be made without breaking a few eggs? And since Garth has argued real estate was overvalued and shouldn’t comprise one’s sole investment, why then lament the fact home prices are falling? Contradiction.

You acknowledge there is a down side. As you say “breaking a few eggs”. Breaking a few eggs means housing sales drop. It means that people who have to sell, take a financial hit. It means home builders, renovators take a hit. Speculation tax, foreign buyer tax reduced to nothing. Cost of administration, greater than revenue collected.

Mortgage delinquencies go up. The British Columbia economy goes into recession.

As you say, these things are inevitable. To a degree, but the Dippers have made a bad situation worse.

You’ll see.

#138 45north on 03.04.19 at 11:24 pm

HoweStreet.com: I listened to Ross Kay. I thought that February sales meant something but Ross says the real estate boards reported too early. Way too early. He did say that 90% of houses for sale in January didn’t sell, that information corresponds to what Garth is saying. Kay also says the housing bubble is over. 30 year mortgages are not going to blow it up again. The Canadian population is tapped out. The banks know this too. It’s their job to know it. They’re tightening their lending standards.

#139 Ponzius Pilatus on 03.04.19 at 11:27 pm

#92 100 million dead on 03.04.19 at 8:19 pm
Socialisum resulted in 100 million dead. End of discussion.
———
Garth,
You missed another idiot.

#140 crowdedelevatorfartz on 03.04.19 at 11:28 pm

Well since Garth is allowing the “white noise” to drown out the message…

Is anyone else enjoying the irony of Trudeau’s political demise being due to the fact that “Old Boy politics” and wrapping his arms around an ethically suspect company….
Have resulted in the intelligent, well spoken, ethical women in his own Party deserting him …?

“Because it’s 2016” meets “Helloooo 2019″…

I’m just curious.
Can a sitting Prime Minister of Canada be punted from his own Party during an election year against his will?

#141 Alex on 03.04.19 at 11:44 pm

#70
“Every version of socialism ends in bloodshed because it demands utter fealty to the state and is eventually backed by force and genocide. You should open a history book instead of lecturing”.

I guess That’s why Canada was against including “cultural genocide” into the definition of the genocide. How many bloodsheds were caused by capitalist countries interventions in the social countries (yeah, it was not for oil, trades, geographical position etc. it was because they are by default the good guys fighting the bad guys, even when they used depleted uranium in Balkan). You’ve been skipping some major history books pages.

“You have solid social programs in Canada that ensure you have medicine, welfare, almost free education and equality of opportunity”.
As soon as you leave hospital unless you do not have private insurance, yes, you do have the medicine but to buy it from your own pocket. Equality of opportunity…that’s even a bigger utopia than the socializam you’ve been criticising. How many foreign trained professionals that came that came via “skilled migrant program” ended up working not just out of their profession, but some lousy jobs??? Yeah, by their own choice, not because of protectionism here. They decided to wipe their butts off withall the interview invitations for internally available jobs only and said screw it, I am going to be a taxi driver (no disrespect to any of them)

#142 akashic record on 03.04.19 at 11:56 pm

Trudeau in Toronto

https://www.youtube.com/watch?v=MTetSf_Sqj8

It should not be free to pollute [heating, cooking, transportation, operating business, holding political rally] in Canada.

The average family of 4 will get back more money than they pay out. For 80% of Ontario families that’s more money that they pay out over the year.

WE ARE MAKING [uncanadian?] POLLUTERS PAY AND GIVING THEIR MONEY BACK TO CANADIANS. 1:24

Canadians deserve real leadership. Let’s go knock doors…

#143 Bottoms_Up on 03.05.19 at 12:06 am

Philpot is an M.D. who worked in Africa (and lost her own child while there). She took on the Aboriginal healthcare file in order to make a difference here in Canada. She definitely lives by her principles.

Garth, I don’t have the money to invest but I did enjoy reading your 60/40 investment advice.

#144 Leafs Rock!!!!!! on 03.05.19 at 12:19 am

The Leafs beat Calgary 6-2!!! Calgary is another great Canadian team but the Leafs rock!!!!! Take that Toronto Hater, you pathetic moron!!

#145 Austruck on 03.05.19 at 12:47 am

When the standard of living falls below what those who expect their personal standard of living to be for a persistently long period, people will get and stay pissed off! Obviously?! This process is slowly starting and will continue into the foreseeable future. Then the economy will slow dramatically on top of it and job losses start to pile up. It’s going to be a mess and it will last a really long time.. I feel sick about it…the time has come for Canada to experience a full frontal US 2007-2009 type of period. It’s not only coming but it’s really already here in the housing market to a degree in the bigger centres.. so buckle up, put on your hard hats and get ready…hope you’ve been preparing these past many years. Because the next few years is going to be a “return OF your investment period of time” not a “return ON your investment period of time”. Rates will rise against everyone’s better judgment and prices of the things you use everyday will continue to rise..bond market tanking,stock market rising (because where is all the bond money going to go?!) then tanking after investors lose their nerve, house market deflating persistently lower(all debt related slow death)…perfect storm of crappy events…whew…that lays out the next 3 to 5 years!! Be careful..land mines will be everywhere..

#146 Nonplused on 03.05.19 at 1:11 am

#88 crowdedelevatorfartz

When I post a comment, it’s mostly because I am thinking about something. I hope that other people might be thinking about the same thing. I definitely do not post comments for the TLDR crowd. They can go back to their Play Stations.

I would not say I have an “audience” in the same way Garth does, he gets millions of readers and I would say I get maybe 100. But it is those 100 that I am writing for, not you. Feel free to skip.

All content creators know, or should know this. The people who aren’t interested in what you do are not your audience. When Marvel makes another super hero movie, do you think they care what the intellectuals think? Nope, they don’t. Instead they do study groups with 11 year olds to figure out how many explosions are necessary. Know your audience. Even when Spielberg took on Jurassic Park, which was a fairly intellectual book, he spent months in study groups with children to make sure he had something that would sell as a movie. Well, I didn’t propose there to make a children’s movie, I was talking about AI, the future of energy, and society. Not easy subjects.

#147 Nonplused on 03.05.19 at 1:21 am

#109 Figure it Out

When JFK proposed putting a man on the moon, the technology was mostly already there and they knew it. But it was still a Herculean task. And it was a couple of guys, not a transformation of our entire industrial backbone.

I think it’s ok for the GND to set objectives, and I think we can all agree with some of the objectives. But the future cannot be willed into existence before it’s time. I’m sure the Neanderthals would have liked to have cell phones but that’s not how it works.

It’s well known to project planners that you can set an objective, a budget, or a deadline, but not all three. The problem with the GND is that the budget required is not available in the time frame envisioned. That said please reread what I said, I still think we need to move in that direction.

#148 macroman on 03.05.19 at 1:44 am

#81 Islander, your advice to Garth should have included Dorothy too, not just Bandit…

Garth..time for a holiday! May I suggest fun in the sun -unplugged in a quasi remote area with your nearest and dearest.

#149 Nonplused on 03.05.19 at 1:53 am

Speaking of the Green New Deal, I have further reflected on it and realized it isn’t broad enough. In addition to reducing carbon emissions and animal farts to zero in ten years lets add an end to the following:

Cancer
Diabetes
Fake news
Corruption
Crime
Drug use
Things that break out of warranty
Bad drivers
Line ups
Traffic congestion
Snow days
Your luggage not arriving when you do
The “blue screen”
Identity theft
Flat tires
Weeds
Wasps
Mosquitoes
Ebola
STD’s
Lawyers
Politicians
Dry skin and rashes
Knee problems
Snowboarders
The KKK
The Democratic party
M13
Weight gain

I could go on this is only a partial list but I don’t want to offend the TLDR crowd again but I’d also like to be able to fly. I mean without an airplane or sudden impact. Like a bird. Or Peter Pan perhaps. Oh and be rich without working. And have a super model wife. Or 3 or 4.

I think this should all be possible in 10 years.

#150 The Real Mark on 03.05.19 at 2:31 am

“#46 HoweStreet.com on 03.04.19 at 6:36 pm
Ross Kay on HoweStreet.com Radio: https://www.youtube.com/watch?v=TcFZ69YzU10

Yes, this should pretty much be a mandatory listen for all Greaterfools. Basically it is a confirmation of my previously stated beliefs that a Canadian housing market crash is completely unavoidable, and will create a systemic depression in the Canadian economy.

Ross Kay doesn’t mince words. I’ve literally never heard him being more of a gloomer than in this interview. Housing as an asset class is dead for a generation, put a fork in it, its done. The Bank of Canada will need massive stimulus, ZIRP/NIRP, QE, government infrastructure stimulus spending, etc., simply to keep the Canadian economy from falling into the abyss.

#151 Buford Wilson on 03.05.19 at 3:42 am

Don’t worry about the government.

Harjit will pick up the slack. With ease.

#152 Smoking Man on 03.05.19 at 4:15 am

Back in the land of a shit load of lear jets and big boats.
Weekend in Canada was nice. Swiss Chalet was good.

Difference between communism and capitalism.

Capitalism rewards risk takers, and creates jobs for cowards and people with low IQ

Communism rewards cowards , and idiots and punishes risk takers.
Without risk. We would be all in the stone ages.

That’s why communist fails every time its tried. Risk takers take the loot to places that don’t punish them..

#153 NEVER GIVE UP on 03.05.19 at 4:47 am

Why should we worry about estate tax.
Government induced inflation @5% to 7% will eat every estate to nothing if not continually rejuvenated.

Our Debt will seem like peanuts when our homes and assets rise by 600% in another 30 years.

Only the active rentier class will fare well I’m afraid.

Use the rule of 72 to get the doubling rate @7% = 10..2 years. So in 30 years a million dollar home will be worth 6 million by 2050.

Governments will simply debase the currency at faster and faster rates whenever they get into cash flow trouble. This is the reason for the inflation no matter how they want to spin it. Instead of selling the old term of inflation as Quantitative easing they will come up with a new phrase to snow the peons like “Pomposity Regeneration!”

All debt in the USA could be wiped out in no time use Wiemar republic tactics. We wont be carrying wheelbarrows to the store. Just a lot of zeros after a number on our digital currency.

In this new world those who are not continually paying their way will have their assets stolen from them without any force used. Especially Seniors. The last 10 years of emergency interest rates have done that quite efficiently.

#154 Why have comments on 03.05.19 at 5:04 am

You’ve complained before about comments section. Rule in life if something does not serve its purpose get rid of the comments. I rarely read the comments section until you posted that one sentence.
Ask yourself this do I get an benefit from spending hours reading the comments?
Personally I don’t think Mr. turner reads all these posts I think it’s someone else. The reason I say that as a business man why waiste your time in non productive assets.
Good luck with your blog, I think you’ve whip the realistate horse long enough, perhaps it’s time to give daily advice on how to get off the pay check to pay check living that Canadians are addicted too.

#155 unbalanced on 03.05.19 at 6:18 am

As I recall. It has been stated here many times. Choices. You made them. Live with it.

#156 David Driven on 03.05.19 at 6:44 am

Trudeau is busy driving all foreign investment out of Canada.

https://www.poundsterlinglive.com/cad/10972-sell-or-avoid-the-canadian-dollar-ahead-of-wednesday-s-boc-decision-say-analysts

By the time Trudeau gets the boot the country will be on it’s knees before Gawd…..George Soros.

BTW…..did you know that Micheal Ignatieff, the Liberal attack dog that ran against Harper , is working directly for George Soros as his point man attacking democracy in Hungary and Poland? Do you think there’s a connection between Soros and the Liberal Party?

#157 akashic record on 03.05.19 at 6:54 am

#143 akashic record on 03.04.19 at 11:56 pm

Trudeau in Toronto

https://www.youtube.com/watch?v=MTetSf_Sqj8

WE ARE MAKING [uncanadian?] POLLUTERS PAY AND GIVING THEIR MONEY BACK TO CANADIANS. 1:24

Canadians deserve real leadership.

Canada’s first pollutist prime minister, leading the pollutist government, collecting pollutist tax for the pollutist vote, joining the global pollutist movement.

#158 kmart on 03.05.19 at 7:18 am

Hi Garth,

I’ve been reading your blog for years. Never read let alone posted a comment. I’m not sure what your last remark means but i hope you’re not going to stop with the free service you provide.

I’m sure there’s many more like me that diligently read your posts and put your advice into action. You have helped my family and I, not even in my mid thirties and I’m in better financial shape than my parents.

If the comments are getting to you then just get rid of them. No-one coming here that’s actually interested in your blog cares about them.

Please keep up your good work.

-Kevin

#159 Victor V on 03.05.19 at 7:31 am

Toronto Real Estate Board calls for looser mortgage rules as monthly sales drop most in a year

https://business.financialpost.com/real-estate/realtors-plead-for-looser-mortgages-as-toronto-sales-drop-again

#160 Braj on 03.05.19 at 7:58 am

So, good luck You’re now on your own.

***

To be fair, your team adjusts portfolio weightings, if only slightly, fairly regularly. You’d be surprised with what would end up on top if you let the rest of the commentators like/dislike (hence rank) the other comments. No need to worry about the utterings of a couple of looneys who have been using this blog as some sort of strange therapy for years now.

#161 maxx on 03.05.19 at 8:00 am

We have some honorable people working on the hill, who (attempt to) do the work their offices/mandates require of them.

T2 is a global laughing stock and his flock of power hungry, egocentric, conniving puppeteers are a big, fat, hairy FAIL. I would propose that their current mandates will make future employers think twice.

https://www.macleans.ca/wp-content/uploads/2019/03/COV_APRIL_MACLEANS_DRE.jpg

As for the manipulators, under/non-performers, bobble-heads and misguided twits, we need some real help:

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

#162 Millennial Realist on 03.05.19 at 8:00 am

Idiot comment of the day:

#153

“Difference between communism and capitalism.

Capitalism rewards risk takers, and creates jobs for cowards and people with low IQ

Communism rewards cowards , and idiots and punishes risk takers.
Without risk. We would be all in the stone ages.”
________________________________________

Alt-right Paleo Boomers/Corporations and their sycophants like this moron have totally corrupted our economic system.

Since the early Reagan years (what a complete dunce he was!) so-called ‘dergulation’ has lead to an increasingly monopolistic economy.

Fewer and fewer mega corps face any real competition now. Most fields have barely 5-6 major ‘competitors’. No room or money for others to take a risk or open up markets anymore.

Amazon and…anyone else…? Crickets.

Happy with your soaring cable/internet fees? Don’t worry, another mega corp will offer you a sweet sign-up offer, then jack the rates to the same level. There’s only a few of them after all.

Analytics and AI are now being used by mega corps to collude illegally to raise online prices.

https://www.cbc.ca/radio/spark/online-shopping-could-get-more-expensive-thanks-to-colluding-ai-1.5032259

Monopoly without risk has become the way of the world Paleo Boomers have created. Risk takers and innovators are squashed. Cowards and conformists flock to the few mega corps and preach hypocrisy and crap that they are “real capitalists” like the bozo here at #153. They move from job to job among a few incestuous leading firms, often going in and out of government as well, buttering their bread on both sides and manipulating our laws to encourage even more monopolies.

Capitalism is a myth, it’s a fraud of insider dealing and monopoly in disguise. No risk taking there, just manipulation by the few.

This will very soon also undermine confidence in the stock markets, so be careful with your investments, folks.

Read. Learn.

https://www.goodreads.com/book/show/40751646-the-myth-of-capitalism

Yet another reason Millennials will be taking over everything and shaking up the status quo.

#163 not 1st on 03.05.19 at 8:06 am

#142 Alex on 03.04.19 at 11:44 pm
—-
Capitalism has lifted billions out of abject poverty. Sure it has some warts but nothing like what socialism has done.

Prescription drugs are already subsidized especially in certain age groups seniors and small children.

Its not capitalisms fault that people with degrees from other countries are not qualified to practice here. That a difference in standards and you should be glad we have them. The world is not all the same nor is it equal. But by all means ask your taxi driver if he can do some side surgery for you.

#164 yorkville renter on 03.05.19 at 8:09 am

hot off the press:

Toronto’s housing market posted its biggest monthly sales decline in a year last month, prompting the city’s realtor board to call for a review of new mortgage rules it says are keeping buyers on the sidelines.

https://business.financialpost.com/real-estate/realtors-plead-for-looser-mortgages-as-toronto-sales-drop-again

#165 Millennial Realist on 03.05.19 at 8:11 am

LOL, I meant “deregulation”, not “dergulation”, though that has an interesting sound to it! (sounds like the noise of BS rising up in Reagan’s vocal chords!)

#166 TurnerNation on 03.05.19 at 8:35 am

#69 Debtslavecreator I predicted a while ago that we’d be getting the US treatment: that, massive investment firms like Buffet, Blackstone would also swoop and buy up tracts of SFH here at pennies on the dollar when the time comes, for use as rentals.

Those massive entities serve as de facto control groups for this ‘newer worldish order’ thing we see being rolled out. Witness the chaos in the past week at home, steering us to be SHEERED like sheep.

“Jan 6, 2017 – Blackstone’s big bet on the U.S. residential real estate recovery is planning … Blackstone spent billions to buy nearly 50,000 homes nationwide, …”

#167 Glengarry Girl on 03.05.19 at 8:42 am

I also loose my Faith in Humanity a little when I read some of the Comments here. There has definately been a rise in Trumpism. I think Garth described what that is clearly enough. I have witnessed this as a Canadian living in the US for over the past 10 years. I reside here for my husbands Career, it won’t be much longer. I travel full time focusing on the positive, but I stay informed enough to plan accordingly. It was slow at first, I was naive and learned much over time about Americans and their Politics. TRUMP suddenly opened up the flood gates of negativity and divisiveness, but it was brewing for a while. As a reasonable level headed Human, my values and beliefs would be considered Radical and Dangerous by Trumpsters. These are scary times, I keep my views mostly to myself. Unfortunately, Foxnews has effectively brainwashed most of the older Folks and as we saw at CPAC, the Republican Party is standing behind this President. I truly hope that my home Country doesn’t descend into this broken hopelessness which is America currently. Anyone who thinks the Government or Congress is actually functioning in the US has got to be delusional.

#168 James on 03.05.19 at 8:51 am

#153 Smoking Man on 03.05.19 at 4:15 am
Back in the land of a shit load of lear jets and big boats.
Weekend in Canada was nice. Swiss Chalet was good.
Difference between communism and capitalism.
Capitalism rewards risk takers, and creates jobs for cowards and people with low IQ
Communism rewards cowards , and idiots and punishes risk takers.
Without risk. We would be all in the stone ages.
That’s why communist fails every time its tried. Risk takers take the loot to places that don’t punish them..
__________________________________________
Wow that was deep. How long did that take you to put all those words together to make a sentence Old Man.
BTW that was one of the places I missed most that they don’t have in the USA. Swiss Chalet! Americans don’t know what they are missing.

#169 James on 03.05.19 at 8:57 am

The sneaky Chinese have cancelled our Canola contracts and shipments to them. Overall exports to China are about 17%. Do you think it is connected to the escalating diplomatic row with Canada regarding Huawei? China has detained two Canadians and this Monday accused one of them of stealing Chinese state secrets from the other. Wow now we steal state secrets from the Chinese. Huh I always wondered how they got the egg in egg rolls, now we will know.

#170 Midnights on 03.05.19 at 9:00 am

Mr Turner you have a great blog don’t let a few people
discourage what you do for the mass majority. I disagree with what you have to say, from time to time. But I’m not looking to read someone with just my views on life etc. This is how one grows and learns, by having their viewpoint challenged in a respectful way.

#171 Victor V on 03.05.19 at 9:04 am

Delinquencies on the rise as Bank of Canada decision looms

https://www.bnnbloomberg.ca/delinquencies-on-the-rise-as-bank-of-canada-decision-looms-1.1223801

#172 Llama on 03.05.19 at 9:09 am

Put me in the same boat as the “love your blog, hate your comment section” people.

I’ve always thought you should introduce a simple upvote/downvote system for the comments. That way, the Trumpists and xenophobes will truly see how unpopular their ideas are.

#173 n1tro on 03.05.19 at 9:10 am

“So, good luck You’re now on your own.”
—————————-
Seems every year people think Garth is going to shut down the message section. :/

Pretty sure the above statement is in the context that Garth isn’t going to be giving anymore free advice of when you (if you mirror the diversified portfolio but not paying for it through Turner Financial) should re-balance given some of the nit picking that occurred by a few idiots yesterday.

#174 Tim on 03.05.19 at 9:48 am

Seconding all the appreciation for the rebalancing update! Those bits of gold are what keep me coming back every day.

#175 IHCTD9 on 03.05.19 at 10:00 am

#163 Millennial Realist on 03.05.19 at 8:00 am

Yet another reason Millennials will be taking over everything and shaking up the status quo.
___

I’d love to see a big shake up, but the first Millennials on the scene are now almost 40. If they haven’t shook anything up yet, they aren’t going to.

#176 Shawn Allen on 03.05.19 at 10:01 am

Comment on Socialism and the future of workers

Sunshine at 137 proposed:

Market socialism for everything else. Workers control the means of production, and sell their goods and services on the market.

**************************************
Well, that seems to assume that workers themselves play a big role in production. And would you confiscate the means of production from the current owners?

Traditionally goods and services were produced from a combination of capital (land, factories, software, buildings) and human worker effort. Over the last several hundred years the importance of capital in that equation has increased dramatically. Human abilities have not changed yet productivity has gone up – Why? because of the increased capital investments that humans use to produce things.

In capitalism we do need to control by taxation how much of the capital (ownership of means of production) gets concentrated in too few hands. It is fair to have some form of tax on capital income, maybe even on capital itself and on estates to insure that being rich is based on effort not merely birthright.

Anyhow, we face a future according to Sapians author Yuval Noah Harari where due to automation and artificial intelligence, workers and even the vast majority of humans become redundant. Not needed as any part of the means of production!

I in no way advocate socialism but yes, redistribution of income by government is certain to grow. I mean would we want ALL the wealth to go to the owners of production means in that scenario?

We face a wild future.

Your mission for you and any descendants you have is clear: You must save now and own some of the means of production. Equities, that is. Better to be the one taxed because you have wealth than the recipients who may have no jobs and no money.

#177 IHCTD9 on 03.05.19 at 10:10 am

#148 Nonplused on 03.05.19 at 1:21 am

It’s well known to project planners that you can set an objective, a budget, or a deadline, but not all three.
___

Reminds me of an old drag racers maxim:

Fast
Cheap
Reliable

Pick two.

#178 ImGonnaBeSick on 03.05.19 at 10:10 am

#137 SunShowers on 03.04.19 at 11:16 pm

Of course.. Socialism. Keep dreaming kid – not going to happen. Try it with your super-genius university buddies – buy a house together, grow your own food, make your own clothes/toys/etc., see if you can make it work on a small scale before you even think of pushing it onto a large scale.

You wouldn’t last a winter.

PS. Garth, we love ya. Sorry for the comments section.

#179 not 1st on 03.05.19 at 10:41 am

A smart govt would increase those TFSAs to more than double their current limit and deem a portion must stay in TSX stocks. Then we would get the best of many worlds – homegrown capital, support for our industries, a retirement plan for people who don’t have one and an actual ownership in capitalism that millennials and other stunned socialists are too scared to go get on their own.

If there is anything the govt can do, it is to incentivize people to get invested in something other than RE and victimization.

#180 IHCTD9 on 03.05.19 at 10:42 am

#141 crowdedelevatorfartz on 03.04.19 at 11:28 pm
____

As much as I think Trudeau is a birdbrain and most of his Cabinet just learned to wipe, I have to admit that a silver lining has appeared.

All these newbie Politicians Trudeau pounded up the ranks for optics obviously had a fairly high opinion of those in government, maybe a textbook definition even. Working for the people, helping, integrity etc.. They’ve not been politicians themselves long enough to desensitize to the reality however.

They probably swallowed Trudeau’s feminist/SJW BS hook line and sinker – and now they are starting to understand they were played like a fiddle. Used in the same manner as a trophy wife is to her rich old husband. They were eye candy – but for Women instead of Men.

I think the Libs have been financial genocide for Canada, but I can’t ignore these two ladies stepping down and saying their piece even though it will hurt/kill their careers.

I hope all the young Women of Canada are paying very close attention. If you’re not learning several very important lessons right now – you’ll never learn them.

#181 Headhunter on 03.05.19 at 11:12 am

#181 IHCTD9 on 03.05.19 at 10:42 am
__________________________________

IMHO T2 is out Jody said earlier this week that she is saying liberal.. she will get the party nod interim leader.. ??? next PM hopeful. Woman and 1st nations? Optics is everything(lots of votes here my friends)

#182 Ace Goodheart on 03.05.19 at 11:14 am

Politics has failed us. It’s broken.

It is no longer a reliable method of creating organising structures for our societies.

What used to be government of the people, for the people has become government of the trust fund kids, for their families and related companies, and the politics of mass distraction for everyone else.

It is just not working anymore. No one even bothers to vote. Most of us know the system doesn’t function.

If we want to salvage the destructive mess that has been made of Canada, our provinces, and also the USA, then we need a new system of decision making and consensus.

Politics has completely failed us and it is very obvious to everyone.

#183 mike from mtl on 03.05.19 at 11:19 am

#180 not 1st on 03.05.19 at 10:41 am

A smart govt would increase those TFSAs to more than double their current limit and deem a portion must stay in TSX stocks.
/////////////////////////////////////////////////////////////////

That was already tried originally with RRSPs, of course mutuals got around the home bias requirement and the feds eventually gave up.

#184 Regina Trip on 03.05.19 at 11:21 am

T2 has cancelled his visitation, and am sure the folks will be disappointed. His speech in Toronto last night was the first time in memory that a PM was surrounded with bodyguards. Quite frankly find this very disturbing, because his safety concerns me must, and don’t want to see him harmed in any way by anyone.

#185 dharma bum on 03.05.19 at 11:28 am

A great docudrama, featuring the corruption and insidiousness of the workings of the various levels of government in La Belle Provence:

https://www.refinery29.com/en-us/2018/12/218301/vito-rizzuto-family-tree-bad-blood-netflix-series

Bad Blood.

Or, just watch the daily news about our government.

Same idea.

#186 not 1st on 03.05.19 at 11:28 am

#182 Headhunter on 03.05.19 at 11:12 am
—-

You just made the same mistake the current liberal govt made. Basing policy solely on identity and discounting an entire group of people especially many that serve as the bedrock of this nations wealth. If that lesson isn’t learned this time then we are done as a country. Trudeau took his eye off the economics and kneecapped entire industries in pursuit of his identity base and now he pays the price.

And don’t get too high on JWR. Rumor has it once she is tossed from the caucus she will join comrade Horgan in Vancouver.

#187 Doghouse Dweller on 03.05.19 at 11:53 am

Gee ! Guess who no longer wants our genetically modified canola ?

https://www.youtube.com/watch?v=v_RgNLI1rYY

#188 Crazyfox on 03.05.19 at 12:12 pm

Philpott says it’s all about SNC Lavalin. Wham. She has “serious concerns” regarding the pressure the Trudeau gang put on the former attorney-general to intervene in the criminal prosecution of that company and she can no longer support the government. – Garth

This JWR being pressured thing…. she said herself under oath that she didn’t feel pressured before making her decision on Lavalin, that this came only afterword and only after several months of reflection. Did JWR mistake opinion or blowback for “pressure”? Pressure to what, reverse her bad decision, is that what it was, or was it the facts made plain.

Y’know, plain facts about Lavalin employing 9,000 Canadian jobs and 50,000 world wide, the fact that they are by far, the largest engineering firm in Canada engineering a wide array of projects from mining (which the TSX is loaded with) to power plants to dams, you name it. Jobs, pensions plus the glaring reality that Canada’s future engineering will have to come from somewhere… who’s going to step in and fill the void? Startups from Lavalin’s unemployed?

Lets talk about ethics for a while. Maclean’s Magazine did a piece on Lavalin a while back outlining their corruption going back 25 years in 20 different nations. Are we to believe that an international engineering firm doing work for despots and dictators world wide won’t have to use bribes to get work? Here in Canada, its called corruption. Elsewhere away from the western world? Its the cost of doing business. Its not pretty but lets face it. Mulroney looked the other way all during this time, Martin… Chretien… Harper…. they all looked the other way because the end justified the means.

It wasn’t until Lavalin began bribing politicians here at home that they got into trouble and their CEO was unceremoniously turfed… did he do jail time? Can’t remember but that’s also the cost of doing business in places that expect ethics. Point is, they should be punished for bad management practices but to what degree? The degree of Lavalin no longer doing business in Canada for 10 years? The point of them leaving Quebec to make a go of it? The point of them going broke? What of jobs and pensions, shouldn’t we as Canadians be careful what we wish for?

Back to JWR’s decision. Was it a good one as AG? Or was it a bad decision that will later lead to bad consequences for Canada’s economy, one that other members federal and provincial in the Liberal party see coming and tell her…. in the context of a provincial election where it became an election issue that, it turns out the Liberals lost, I might add, y’know, blow back that she, with her own ego, couldn’t take.

Did anyone actually watch her take on what happened… I suffered through it for 45 minutes, enough to see JWR give out a way over the top reaction to a couple questions that left me an impression that JWR would have been a difficult person to work with. Perhaps she was shuffled not just because of a bad decision on Lavalin, but because she wasn’t the right fit for the job at all.

The overblown reactions of Scheer impress me even less. To call for a PM resignation over this is a bit much. If Andrew wins over an obvious con like this, God help us all.

#189 Crazyfox on 03.05.19 at 12:14 pm

Lavalin’s history and importance to Canada isn’t hard to find, we can start right here:

https://en.wikipedia.org/wiki/SNC-Lavalin

#190 Briana on 03.05.19 at 12:27 pm

#14 My Name is Neo

100 percent agreed. Trump is not anti-Chinese, he is PRO USA, get it straight everyone.

We should be pro-Canada, take an example from Trump

#191 China on 03.05.19 at 12:29 pm

They have cancelled our grain shipments out of Winnipeg with a harvest sitting in the fields, so what is next?

#192 James on 03.05.19 at 12:30 pm

#168 Glengarry Girl on 03.05.19 at 8:42 am

I also loose my Faith in Humanity a little when I read some of the Comments here. There has definately been a rise in Trumpism. I think Garth described what that is clearly enough. I have witnessed this as a Canadian living in the US for over the past 10 years. I reside here for my husbands Career, it won’t be much longer. I travel full time focusing on the positive, but I stay informed enough to plan accordingly. It was slow at first, I was naive and learned much over time about Americans and their Politics. TRUMP suddenly opened up the flood gates of negativity and divisiveness, but it was brewing for a while. As a reasonable level headed Human, my values and beliefs would be considered Radical and Dangerous by Trumpsters. These are scary times, I keep my views mostly to myself. Unfortunately, Foxnews has effectively brainwashed most of the older Folks and as we saw at CPAC, the Republican Party is standing behind this President. I truly hope that my home Country doesn’t descend into this broken hopelessness which is America currently. Anyone who thinks the Government or Congress is actually functioning in the US has got to be delusional.
_______________________________________
Warning, NEVER, NEVER read anything from this Ex Canadian Old Man who is probably about 75. “Smoking Man” He is exactly what you are describing, brainwashed crazy old fox news subscribers that have tried to marginalize reality.

#193 D on 03.05.19 at 12:32 pm

Dear Garth,

Don’t listen to the haters wearing tin hats. Most of them probably drive KIAs.

I owe a lot to this blog. Over the years I have followed your portfolio pointers to the point where now I understand better where to put my portfolio weightings, even if I don’t follow the 60/40 distribution to a T.

I nearly pooped my pants when things dropped end of 2018, but your advice was clear: stay the course. I did and am happy to see things coming back up, whilst also having taken advantage of the dip.

You are offering your opinion and advice for free to a whole bunch of interNUTS. They have no right to gum up the comments section with hateful commentary.

The biggest hurdle I had to face as an investor was to finally INVEST my money, rather than letting it wither away in a TFSA HISA.

I appreciate your dedication to the blog and the life lessons that often come along with it.

Don’t let some neckbeards in the peanut gallery knock you off your A-game!

Thank you for all you do!

D.

#194 Figmund Sreud on 03.05.19 at 12:36 pm

Philpott … Wham.
——————————————-

Off he goes!

http://marriedtothesea.com/042118/actually-this-is-good.gif

F.S. – Calgary, AB.

#195 Headhunter on 03.05.19 at 12:40 pm

#187 not 1st on 03.05.19 at 11:28 am
_______________________________________

perhaps but I don’t think so. Don’t under estimate the pull of a female candidate. More women vote then men. Just a fact. I vote with my wallet so not a Liberal fan.

#196 Penny Henny on 03.05.19 at 12:50 pm

#88 crowdedelevatorfartz on 03.04.19 at 8:15 pm
@#78 Nonplused = Minus

You had me at, “This comment is off topic for today….”

scroll….., scroll…. , scroll…..
////////////////

Three scrolls?
That’ll only get you about 1/3 of the way through one of his comments.

#197 Bill Bonnie on 03.05.19 at 12:59 pm

You just need to install this filter to automatically moderate comments:

https://xkcd.com/2112/

:)

#198 IHCTD9 on 03.05.19 at 1:05 pm

#111 Stan Brooks on 03.04.19 at 9:03 pm

A friend of mine spent over 50 k on insulation, doors and windows replacement on his house 3 years ago only to see significantly increasing electricity bills ever since, increasing assessments and taxes.

Taking on a porcupine with naked behind is not easy.
___

I know a guy who did a similar thing regarding heat. 5 figures spent, minuscule savings.

When my house was built, Sir John A Macdonald was running the country, and insulation hadn’t been invented yet. The place has never been properly insulated or had a proper vapour barrier installed.

IMHO, for guys like me, you’re way ahead of the game heating with cheap fuels and just cranking the heat up. My house is between 24-26 degrees all winter. Doing the insulation and VB would cost more today than what I paid for the place 17 years ago, I’d never see a return on that effort even if I lived to 250.

A little research and brain power along with an able set of hands is all you need. My heating bill for about 50% of my place will be free next winter.

#199 Post on 03.05.19 at 1:11 pm

“Trudeau’s Resignation Is the Liberal Party’s Only Hope. He has one chance to save the Liberal party, by putting it in the hands of the women who stood their ground.”

https://thetyee.ca/Opinion/2019/03/05/Trudeau-Resignation-Only-Hope/

#200 Canola on 03.05.19 at 1:17 pm

I gave you the picture of next year’s crop. We are doing $2.5 Billion with China through Richardson’s International based in Winnipeg. Here is what we were not told. The posting took place on January 14th for the Canola in storage with a stop shipping order in place by China. Thus the grain in storage and next year’s crop has nowhere to go now, or a $5 billion problem to solve for exports.

#201 IHCTD9 on 03.05.19 at 1:17 pm

#189 Crazyfox on 03.05.19 at 12:12 pm

The overblown reactions of Scheer impress me even less…

…If Andrew wins over an obvious con like this, God help us all.
_____________

speaking of overblown…

#202 AGuyInVancouver on 03.05.19 at 1:22 pm

#190 Crazyfox on 03.05.19 at 12:14 pm
Lavalin’s history and importance to Canada isn’t hard to find, we can start right here:

https://en.wikipedia.org/wiki/SNC-Lavalin
– – –
So what? No company is too big too fail, especially one as corrupt as SNC-Lavalin. This Libya thign isn’t their first trip through the slime, they’ve been caught bribing Canadian officals on hosiptal contracts, making illegal donations to the Liberals etc. Let them go bust, others will fill the vacuum.

#203 Penny Henny on 03.05.19 at 1:27 pm

Garth if you quit the blog or the comments and you’ll be going through withdrawal.
It’s your crack cocaine and you know it.

#204 IHCTD9 on 03.05.19 at 1:54 pm

#200 Post on 03.05.19 at 1:11 pm
“Trudeau’s Resignation Is the Liberal Party’s Only Hope. He has one chance to save the Liberal party, by putting it in the hands of the women who stood their ground.”

https://thetyee.ca/Opinion/2019/03/05/Trudeau-Resignation-Only-Hope/
____

Agreed. Every day that Trudeau remains PM is a darker stain on the remaining Cabinet Ministers (especially the Women) and the Party itself. They had best start thinking about their collective futures.

Do they really want to be associated with a douchebag like Trudeau at this point?

It’s probably time to break out the knives, cut him loose; and let him fall into the canopy.

If you live by the sword, you die by the sword.

#205 n1tro on 03.05.19 at 2:01 pm

Democrats got a real winner in AOC…..not. Pompous twit is being kind.

https://www.youtube.com/watch?v=rjpXAJ3hEBo

#206 EmmEmm on 03.05.19 at 2:08 pm

Sometimes, even more than the post itself, I like Garth’s responses to the comments. Pure Gold !!

#207 espressobob on 03.05.19 at 3:29 pm

Obviously a client needs a minimum to enjoy the benefits of a fee based advisor. Many fall short of this requirement and are looking for sound advice while getting confused?

It might make sense for Raymond James to consider fee only services for individuals in this category. You pay an advisor for their time to help set up a discount brokerage account along with holdings and material to read.

An educated client working with a pro. Sounds like a win win down the road.

Sound kinda like this blog. – Garth

#208 Chinese Dude on 03.05.19 at 3:42 pm

“Libs have destroyed our economy”? NOT JUST the economy. They have destroyed western culture!

– From a Chinese dude

#209 tccontrarian on 03.05.19 at 3:45 pm

“Yesterday was a prize. After referencing a big rebound on Bay Street in 2019 and a reversal of last year’s market plop in New York, I detailed weightings for a 60/40 portfolio rebalance. A few tweaks from previous iterations, appropriate for a volatile year of politics, trade tensions and tapering interest rates. Naively, it seemed like a service. But it didn’t jive with the narrative of those who live in a black-&-white world. The DELETE finger was busy.

So, good luck You’re now on your own.” -GT
*******************

Ok, I see what you’ve done here. I abstain from commenting on your blog for 2-3 consecutive days and you’re lamenting the ‘void’ I’ve created. :)

FWIW, I read your blog daily for the wisdom you dispense (even if I don’t agree with some of it), but I also read the comments and try to distill whatever wisdom exists there as well. There’s a strange ‘balance’ in doing so.
It’s similar to reasoning for listening to BNN all day long at my work (in the background); while sounding important, most commentary there is based on ignorance but it’s still useful to have an awareness of what mediocre money managers are thinking (so as to maybe do the opposite, as part of my contrarian strategies).

So, I apologize – I’ll try to comment more often so that you’ll decide to continue doing this. {joking, of course}

TCC

ps. I’m not as optimistic as you are on 2019, even though the first 2 months have provided stellar returns.
I’m beginning to intitiate short positions in the Cubes, for instance.

#210 Smartalox on 03.05.19 at 3:46 pm

Crazyfox @#189:

I hear what you’re saying. In all the hubbub about JWR and now Philpott’s resignation, I’ve been surprised at how much of what’s known about this story has come from opinion pieces from media columnists, building on ‘he said vs. she said’ instead reporting solid facts.

From what I gather, in her role as justice minister / attorney general, JWR simply reinforced the decision of the director of public prosecutions. I have not heard anything from her about how that decision was arrived at, and how it was justified.

JWR is a former prosecutor, and a prosecutor;s objective is to ‘win, or at least, don’t lose’.

An MP’s objective is to find a way to do what’s best for his or her constituents. So, the PM, in his role as MP for his Montreal riding, was lobbying for a solution that would be best for his riding. Trudeau was not pushing for prosecution to be stopped. He was pushing for a solution that would still punish the firm, under the law.

The law allowed for a DPA, provided certain conditions were met. I have not seen an objective report as to whether the company was able to meet the conditions or not.

If the company qualified for a DPA, then it should have had one. Punish the executives involved, but not the rank and file employees.

If the company qualified and JWR refused, then, in my opinion, this whole thing is on her, for thinking like a prosecutor going after a win, and not as an MP willing to compromise on behalf of Canadian constituents.

If the company didn’t qualify for the DPA, and that logic is sound, and the PM still exerted pressure to further bend the rules, then he and his team rightfully own this mess.

#211 Barb on 03.05.19 at 3:47 pm

#163 Millennial Realist on 03.05.19 at 8:00 am

“Yet another reason Millennials will be taking over everything and shaking up the status quo.”
————————————–

Doubtful.
Only capable of shaking up–and spilling–their lattes as the car turns the corner.

#212 Blacksheep on 03.05.19 at 3:51 pm

Chrystia Freeland, steps up to the podium, with a stoic look and assertive tone:

“I’m here today to confirm to you, political corruption in Canada, will not be tolerated by your Liberal government, regardless of how famous ones heritage might be.”

“Thanks to a steadfast commitment to honesty, integrity and the rule of law by the strong female leadership in our party, the attempt at potential internal interference, was thwarted before any wrongdoing could take place and your Liberal government has now removed, all rouge parties involved with this unfortunate event.”

“I remind myself on a daily basis, that the Liberal party, was elected to bring real change to Canada and put an end to the ‘good old boy’ fashion in which some previous administrations have operated. No longer, will shady deals or preferential treatment for billion dollar corporations be tolerated, regardless of how economically powerful.”

“I take solemn comfort in knowing that our political system actually works as designed, for the good of all Canadians and pledge to diligently continue on, working towards a future that benefits all Canadians, not just those of privilege.”

“This is why I, Chrystia Freeland, ask for your continued support, as there is still much work to be done and together we can achieve, what was once considered, unachievable.”

Thank you,
God bless Canada…

#213 tccontrarian on 03.05.19 at 4:16 pm

#212 Barb on 03.05.19 at 3:47 pm

#163 Millennial Realist on 03.05.19 at 8:00 am

“Yet another reason Millennials will be taking over everything and shaking up the status quo.”
————————————–

Doubtful.
Only capable of shaking up–and spilling–their lattes as the car turns the corner.
********

Hilarious! I almost choked on mine thanks to you!! Thx

TCC

#214 n1tro on 03.05.19 at 4:23 pm

#211 Smartalox on 03.05.19 at 3:46 pm
————-
You’ve over complicated things. The DPP has the sole authority to pursue prosecution or a DPA. They chose to prosecute based on the evidence. Even if this is flawed and they fail in court, it is on the DPP (not JWR).

There doesn’t need to be a complex analysis on what JWR’s reasonings were as the DPP is suppose to be autonomous.

What Trudeau and crew tried to do is get JWR to have a talk with the DPP to persuade for a DPA in the interest of an upcoming election and jobs. If you forget the fact that the DPA came into affect after prosecution proceedings already started on SNC, making them technically ineligible, it is still clear that it was in the least, attempted obstruction of justice.

#215 SunShowers on 03.05.19 at 4:39 pm

#177 Shawn Allen on 03.05.19 at 10:01 am

Many people say that the value produced by increased productivity should not go to the workers, since the workers, while being more efficient due to technological advancements, aren’t necessarily working any “harder”.

To which I would say, let business owners lay off all of their staff for an entire month. The owner can keep the technological advancements that increased productivity so much, but they are the only ones that can use it. Then we can see how productive that business is for that month. I think we all know the answer.

Technological advancements don’t have rights. One person is free to capture all the value of technological advancements for themselves. Employees, however, do have rights. If employees are required to leverage those advancements to create value, they are entitled to that increased value.

You do bring up a good point about automation. Businesses that do not provide a living wage, or businesses that cannot provide many wages at all due to a comparatively high degree of automation need to be taxed appropriately, so that the benefits of automation are socialized instead of privatized. Ideally, they would fund the UBI I mentioned earlier.

At the end of the day, machines can replace workers, but they can’t replace customers. Once enough workers have been replaced, there will simply not be enough customers to keep consumption-based economic growth going. I’m fairly certain it’s already begun. Capitalism is a system full of fundamental self contradictions like this, and we are now seeing it begin to eat itself in real time. This is why swift government action is needed to protect the people, and institute a financial system that works in the long term.

#216 tccontrarian on 03.05.19 at 4:46 pm

“The odds of an overshoot are real. If that 20% drop turns into 40% there’ll be tens of thousands of families in negative equity, owing more on their homes than they’re worth. As the US experience showed us, in a market rout it’s not house-hungry families swarming the streets looking for bargains, but investors buying the dip.”
———–

Well, I hope to be one of those family/investor ordinary dude who just wants to buy a home for a reasonable price. How it gets ‘there’ has ceased to be my concern, since I had no hand in creating it. About time the term ‘renter’ became a respectible one again! It will take thousands upon thousands of ‘landlords’ going broke (with negative equity etc)!
C’est la vie say the French. And my old fave, Mark Twain, said it this way:

“Good decisions come from experience. Experience comes from making bad decisions.”

TCC

#217 Remembrancer on 03.05.19 at 6:22 pm

#213 Blacksheep on 03.05.19 at 3:51 pm

Nice bit of FanFict but she chose Door #2…

https://www.huffingtonpost.ca/2019/03/05/chrystia-freeland-trudeau-feminist_a_23685158/

#218 Alex on 03.05.19 at 8:41 pm

#164 not 1st
Capitalism has lifted billions out of abject poverty. POVERTY CAUSED BY WHOM? AND HOW DID THEY LIFT IT – WITH CHILD LABOUR OR BY INVASION (JUST GOOGLE HOW MANY NATIONS HAS US INVADED) Sure it has some (HUNDREDS IS SOME… – AGAIN PLEASE START READING SOME HISTORY BOOKS) warts but nothing like what socialism has done. THAT DARN SOCIALISM WAS IN FAVOUR OF INCLUDING CULTURAL GENOCIDE IN THE DEFINITION OF GENOCIDE, OPPOSED BY CANADA AMONGST OTHER WESTERN COUNTRIES)…
Prescription drugs are already subsidized especially in certain age groups seniors and small children. SOME PRESCRIPTION DRUGS FOR SOME AGE GROUPS, “REGULAR” WORKING PEOPLE WITHOUT INSURANCE ARE EXEMPT. AND US AS THE WESTERN WORLD LEADER…COME ON, 300 MILLION PEOPLE WITH NO BASIC HUMAN RIGHT TO HAVE EQUAL HEALTH CARE

Its not capitalisms fault that people with degrees from other countries are not qualified to practice here. That a difference in standards and you should be glad we have them. The world is not all the same nor is it equal. NEVER SAID IT WAS THEIR FAULT THAT SOMEONE WAS NOT QUALIFIED TO PRACTICE. CANADA SPECIFICALLY STILL HAS SKILLED MIGRANT PROGRAM UNDER WHICH PEOPLE WERE GRANTED POINTS BY THE GOVERNMENT FOR THEIR FOREIGN EDUCATION AND FOREIGN WORK EXPERIENCE TO BE ABLE TO QUALIFY, AND THEN ONCE THE IMMIGRATION HAPPENED THOSE POINTS GONE WITH THE WIND, GO TO SCHOOL FROM SCRATCH. DECEIVING AS TOO MANY THINGS HERE. But by all means ask your taxi driver if he can do some side surgery for you. I CAN ONLY ASK IF IT COULD BE DONE IN A HOSPITAL HALLWAY IN THIS DEMOCRATIC WESTERN WORLD…
YOU DID NOT GET THE POINT, CANADA BY SO MANY MEANS IS a BEAUTIFUL COUNTRY WITH A HUGE POTENTIAL WITHOUT A NEED OF EXPLOITING ANYTHING OR ANYONE, BUT IT HAS BEEN SO MESSED UP BY MANY DIFFERENT DEMOCRATIC GOVERNMENTS, INVOLVED IN CONFLICTS THAT WERE INTERNAL PROBLEMS OF DIFFERENT COUNTRIES, AT THE SAME TIME MAKING SURE TO PRESENT EVERYTHING ELSE THAT IS NOT CAPITALISM AS A DEVIL. HYPOCRISY.

My apologies for getting heated up with originally commented on comments not necessarily related to the content. Won’t happened again. Logging out permanently.