Yes, I know there are but 153,000 souls on that glorified sandbar called PEI. But suddenly it matters. The PMO’s freaking out again.
There was an election this week. One of consequence. The ruling Liberal party was essentially wiped out, going from government to third spot. The sitting Lib premier lost his own seat. Islanders put a bunch of untested Greenies into the official opposition. And the Tories surged up the middle to form government.
Hmm. This comes mere days after a leftist, Liberal-friendly NDP government in Alberta was smoked by Jason Kenney’s new-age barbarian conservatives. And last year, as you know, the Liberals were punted from power in the country’s most populous province as the brash, Trumpian Doug Ford ousted Kathleen Wynne. Meanwhile four provinces will be suing Ottawa over its carbon tax, and the SNC Lavalin mess is far from forgotten.
PEI matters because it was Lib-loving Maritimers who put Trudeau into 24 Sussex four years ago. Every single seat in Atlantic Canada went red, so when a sitting local Liberal government loses this badly, it tells you something’s on the wind. We’re less than six months from the next federal election… and the worst is yet to come.
The Bank of Canada weighed in Wednesday morning. The news seemed like no news – interest rates will stay exactly where they are – but financial markets quickly grasped the message. The Canadian dollar slumped. Bond yields dropped and prices swelled. The TSX paused its 2019 rally to shed most of 100 points.
The central bank has turned from hawk to dove. Three months ago it was projecting several rate increases this year. Now, none. After six months of crappy economic growth, the bankers have thrown in the towel, reduced their targets and say that (at best) the economy will grow by 1.2% this year. That’s less than the inflation rate, so it could be called an actual contraction.
The key government 5-year bond dropped below 1.5% again, and could test its 12-month low. That’s a stunning plop of a full 1% since last autumn. In the bond world, this is Stormy Daniels.
Says mortgage broker/bloggerRob McLister, who is telling people to borrow short: “Today’s news gives variable-rate borrowers comfort as the market believes the next BoC move will be a cut. And it’s rare for a central bank to cut rates and then reverse them higher soon after. Hence, if you believe the market, the odds are good that we’re entering a long pause in rates or (eventually) a new rate-cut cycle.”
Will the central bankers completely reverse themselves and drop the cost of money?
Meh, I doubt it. But anything is possible. If the current oil spike fades, if trade tensions continue (China just shafted our canola guys), if debt and fear stalk the housing market, if the job creation numbers fizzle, than a cut could happen by the autumn – just when Canadians are getting ready for the federal vote in October. And while slightly lower rates would be welcome, possibly saving the butt of terrified property sellers in Vancouver, they’d be fodder for Conservatives arguing that Justin Trudeau just blew an entire economic recovery.
In the space of four years, the Tories will allege, the Liberals turned a balanced budget into a string of deficits, added $100 billion to the debt, raised income taxes, gutted TFSA contributions, increased government spending, presided over a real estate bubble and managed to irritate not only our largest trading partner, but the Chinese as well. If the Bank of Canada is correct, the country could be borderline recessionary in another few months. That’s no disaster for investors, of course, but the last thing a sitting PM needs. Could a PEI happen in Ottawa?
We know the economy stalled out six months ago. The new NAFTA has yet to be ratified by the US, and may not be. Real estate activity has cooled dramatically with sales down 40% in Vancouver and prices 20% off their peak in the GTA. The carbon tax has turned into a hairy issue for the feds to manage, and is likely to dampen economic activity going forward.
History shows a governing party trailing in the polls six months before an election is usually defeated. Whether that happens in 2019 will be known soon. “The core message today is one of caution,” TD economists said of the central bank decision.
If you happen to hear the prime minister call his opponent a climate change denier or white power sympathizer well, you know he’s already lost.
174 comments ↓
MASSIVE Debt In Canada! – Bankruptcy & The END Of The Middle Class As Country NEARS Recession
https://www.investmentwatchblog.com/massive-debt-in-canada-bankruptcy-the-end-of-the-middle-class-as-country-nears-recession/
Oh happy days…. sock boy has got to go…
He’s just not ready..
Mr. Turner – Liberals are really in deep clam dip here in Stupidville.
People are in a surly and nervous mood.
That means, in my lexicon, the election that follows these feelings will eat incumbents for lunch.
I would bet that the Grits will have trouble, mucho, come Election day.
The Economy in BC – is in freefall. They are going to point at Mr. Socks and blame him for this mess.
It is not the Bank of Canada’s job to backstop losses in the housing market. Their job is to protect the dollar and control inflation.
They couldn’t stop it even if they wanted to. What are they going to do? Cut from 1.75 down to .25? In 2008 it took going down a full 5% and 0 down 40 year ams to get people borrowing again.
Sorry speculators – you made you bets and lost. You go bankrupt now.
#145 Tater on 04.24.19 at 3:59 pm
#138 Stan Brooks on 04.24.19 at 3:16 pm
https://forbeswealthblog.ca/2018/06/22/are-the-posted-inflation-rates-a-lie/
The real inflation/for dummies like Tater along with explanation on why the government lies about it.
—————————————————————
This is laughably dumb.
Yep, I am sure all retirees, savers and people on fixed income are laughing their behinds off as their purchasing power is not reduced but rather increased according to your idiotic statements.
Verbatim from the link:
https://forbeswealthblog.ca/2018/06/22/are-the-posted-inflation-rates-a-lie/
Furthermore, the way that inflation is measured over the decades has changed numerous times. If inflation was still measured the same way as it was in 1990, it would reflect a more accurate 6% inflation rate. If inflation was calculated as it was in 1980, it would be closer to 10%. Given these more realistic higher inflation rates, we are still theoretically in a recession…
Brainwashed Canadian idiot.
#28 Smoking Man on 04.23.19 at 6:02 pm
Calling it.
Leafs will beat Boston 3 to 1
“””””””””””””””””””””””””””””””””””””””””
#71 Smoking Man on 04.23.19 at 9:31 pm
Let’s go Vegas Nights.
“””””””””””””””””””””””””””””””””””””””””
Ah sport teams and presidents. Picking all the “winners”.
Ross Kay on HoweStreet.com Radio:
Immigration Doesn’t Stop a Housing Correction.
Credit Scores get a NEW Replacement.
https://www.howestreet.com/2019/04/23/immigration-doesnt-stop-a-housing-correction/
So as of few months ago the economy was on fire, employment was great and now suddenly with nominal (rate – inflation) interest rates in the negative territory (official -0.5, real – 5 %) we got projected ‘growth’ of 1.2 %, most likely sub 1 % with way understated inflation with most likely series of cuts coming soon?
What happens is very normal for artificial (record) debt based consumption and service based economy. We are
in the midst of a long inflationary depression that is masked only by an absurd underestimation of the real inflation, thanks to the skills of the liars and the gullibility of the incredibly stupid sheeple.
Canada’s economy can’t run on virtue signalling, playing dress up in India, and SNC-Lavalin lies. That is all Trudeau has accomplished in his four years as Prime Minister.
Nope we need manufacturing, oil and agricultural exports to pay for all the stuff we import. Trudeau has done nothing to help manufacturing, he is actively hurting the oil industry, and has upset China so much that they have stopped buying Canadian canola.
Bottom line is if you kill your export industries and tax domestic industries to death with a carbon tax you basically become Venezuela without the Hugo Chavez action figures.
We need to dump Trudeau and his bosses at SNC-Lavalin.
https://www.ebay.com/itm/Hugo-Chavez-CHAVECITO-Talking-doll-60-centimeters-tall-UNIQUE-US-SELLER/323699325666?hash=item4b5dfbbae2:g:DfQAAOSwzd5cafpy
I find it interesting how each of our points of few varies by so much.
The property market is collapsing…in yet I see nothing but build, build, build (i’m in YVR).
Economy is tanking, in yet where I work we are the busiest ever, expanding like crazy. We can’t find enough people.
I don’t get it.
The problem today isn’t fake news…it’s too much damn news. All sides of all issues all the time.
I am beginning to believe its better to ignore it all, stay invested, keep my head up and keep believing things are improving all the time.
Right or wrong…that feels better than being grouchy and depressed.
A point of Clarification on GDP growth projections
After six months of crappy economic growth, the bankers have thrown in the towel, reduced their targets and say that (at best) the economy will grow by 1.2% this year. That’s less than the inflation rate, so it could be called an actual contraction.
**************************
It may not be obvious but GDP growth is virtually always stated in real terms over and above expected official inflation.
So yes, the 1.2% (at best) is weak but it is not a predicted contraction.
Well, it might be a contraction on a per capita basis…
The carbon tax was the final straw, and it will seal the deal for Scheer.
The timing is just so lousy. The tax feels like an anachronism from the Obama era that is now firmly in the rear view mirror. So out of place.
The provincial elections are signalling what is to come.
As for the economic front, expect relief with the new government in November.
MF
I feel like every six months things change. Go fixed, go variable, now’s a good time to buy because there are so many deals ( I never understood that one. Have prices dropped THAT much?!? Not really…).
Round and round we go.
History shows a governing party trailing in the polls six months before an election is usually defeated.
Do I look upset?
Am I an expat planning on voting again?
Trudeau had his shot at PM. He won and became Prime Minister. He should be extremely proud of this.
But all indications are he can’t win next time. So, perhaps he should resign. Maybe he is looking to return in 2023?
The problem with just telling borrowers to “borrow short” is that, as we’ve seen in the past, the lenders aren’t obliged to pass on the Bank of Canada rate cuts when they set their benchmark rates. Additionally, as housing as an asset class deteriorates in quality of collateral, spreads are almost certain to widen. So the alleged benefits of a floating rate mortgage, even if the Bank of Canada does cut, may very well not exist.
Having said that, it is curious that, in light of the overwhelming statistical evidence of an economy in severe trouble, that the Bank of Canada held firm. This tells me that they probably won’t act until there’s a visible crisis. This was probably the last meeting at which they really could’ve realistically done much of anything prior to an anticipated fall election without creating a perception of political motivation.
Please, no more Tater and Stan Brooks. Can’t you two just exchange phone numbers and insult each other directly?
@ Tater
There is absolutely no doubt that the methods used to calculate CPI over time have changed. Inflation (as determined by this CPI proxy) is lower now on the most recent (since the 90s mostly) calculation method than was used in the past.
Regardless if one views the current approach (cost of living) vs. previous cost of goods as being better, when comparing historically it is important to note the difference.
There are multiple articles which make the case that, under the past COGS method, inflation would be above 5% compared with sub 2%. Maybe the method today is better, but it isn’t something widely discussed.
Our future seems to be slow growth and low returns.
You moaned that last year and markets just gained 16%. – Garth
“Mr Prime Minister, why are you lagging in the polls?”
“Because it’s 2019.”
Maybe not such a conspiracy theory:
34 years of inventory listed in West Van. No bids.
Greatest downturn in 45 years. The rest of BC doesn’t know what is coming. But they will soon.
https://omny.fm/shows/steele-drex/the-2019-vancouver-housing-conference-takes-place
Not necessarily sayin I am apathetic about Canada and its politics, but I really don’t give a sh*te.
Thank God the country is coming to its senses (except maybe BC, but they have always been a bit off) Ive been counting the days until the election but now im not so sure. The liberals are doing such a great job screwing up, I almost dont want it to end. (179 days….)
“If the Bank of Canada is correct, the country could be borderline recessionary in another few months.”
I TOLD YOU SO. FOR QUITE SOME TIME.
We may not get 2 consecutive quarters of -‘ve GDP to call it an “official technical” recession (the Cdn. economy is too plucky for that to happen) but for all intents and purposes we are in it now.
The FAINT OF HEART (BoC) always speak in half truths at the outset, fessing up to reality later when it is a DONE DEAL.
—————————————————-
“…it tells you something’s on the wind.”
Canadians are biding their time with Trudeau. He and his version of Liberalism will get their’s in October.
As a result, the Trudeau’s “Liberals” will be near thrashed as the Kim Campbell Conservatives were in 1993. And I doubt Papineau will suffer the indignity of another 4 years of Trudeau as their MP.
And I’m a Liberal.
Chretien and Martin represented the Liberalism I liked and not this whiny, spend your way into oblivion, New Age, GAIA version that Trudeau practices.
Time for not only a change in the Fed. Gov. but a NEW CREW running the Fed. Liberal Party.
For two years, the minimansion with a mock-Tudor roofline has been sitting at the end of its stately driveway empty, unsold and forlorn, and it’s now in foreclosure.
The two men got financing from BlueShore that included a construction loan of $1.5 million and another $2.2 million mortgage against the West Vancouver home and subject A’s house in Burnaby. The debt was in addition to a first mortgage on the Sandy Cove house that still had $155,500 owing.
They planned on making a 2M dollar profit by juicing up the property HGTV style. Unfortunately, the market turned by mid 2016 in West Vancouver.
Prices are down 40% in West Vancouver. The mayor a year ago already declared it a housing meltdown disaster.
BlueShore Financial, the credit union that loaned the homeowner and his stepson the money to redevelop the property, recently won a judgment in B.C. Supreme Court allowing it to sell the home to recoup the loan.
Quebec isn’t worried about the Trudeau and the Liberal Vote Monkeys getting sent to Oblivion..They have there Transfer Payments firmed up for 5 years.
Negative interest rate policy is only one housing correction away……..
“If you happen to hear the prime minister call his opponent a climate change denier or white power sympathizer well, you know he’s already lost.”
There is no doubt that Trudeau will level these accusations at Bernier and Scheer at the federal level and a host of others at the provincial level. What else has he got? He certainly can’t run on his record. Stephen Harper’s Conservatives were ahead in the polls six months before the 2015 election, never mind Trudeau currently being in second place. I think a Scheer minority government is likely and the Green Party is going to do better than ever. I’m voting Green this time.
PS: I forgot to mention:
NICELY SAID today GARTH. You pull no punches. Nothing but facts.
Buonanotte e Ciao d[*]’Italia.
——————————————-
*Don’t forget to book your Summer vacation with a visit to Italia, we need your cash Canada.
Regardless, we are fond of you – we can tell by how you dress you are N. American and Canadian as you are quiet (unlike American’s you can hear coming from 1,000 m. away), polite and you apologize for EVERYTHING.
Stop apologizing Canada, know that you are loved and welcome in “Il Bel Paese” where “Il Bel Far Niente” and “La Dolce Vita” are a way of life.
And, our coffee and food aren’t bad either as are our attractions.
Though, have a care with the noisy luggage on our millennia old streets and try not to dress half naked in our neighborhoods.
We actually live in this open air museum called Italia.
Comment # 9; these embarrassments are all the Trudeau has accomplished in four years…
……..
Let’s not forget the huge debt! The larger debt increase in the history of any previous prime minister I think they say.
The sooner we get rid of them, the sooner we can get to repair his disasters.
What a flop he turned out to be; an absolute disaster.
“He is just not ready”…that would be the least of our worries. But he is a danger to this entire country; a “nation destroyer”; an economy bankrupted.
Rarely has one prime minister manager to create so many problems in just one mandate. Maybe just his father.
Alberta, remember the “Trudeau salute” to Alberta? (…google it; he showed the finger to Alberta. This is what Justin is trying hard to implement.
A nation destroyer. He single handled brought this nation to the brink of separating. Like he is trying to do it in purpose…to offend and enrage every single province. Except Quebec.
BC and Alberta and Sask shout separate and form our own Western Canada.
I was at an investment conference a few months ago, the keynote speaker said the investment industry has a new joke: We found something worse than a tax and spend government, it’s a tax cut and spend government – one trillion dollars worth.
The Conservative governments in Canada will almost always cut taxes when they get office. It doesn’t matter what part of the economic cycle we are in, it’s always time for the Chicago school of economics.
Unfortunately, going back to Mulroney’s musings about deindexing OAS back in the eighties, Conservative governments seem to have big problems making the spending cuts, and shrinking the size of government that are part of this fiscal philosophy. Cutting taxes, however unequally is popular. Cutting spending is the hard part, and too often it simply doesn’t happen.
This is why the Conservatives in Canada have the worst fiscal record of the three major parties. Now with a blue wave across Canada, we could well have a Conservative majority federally in a matter of months. The tax cuts have already been discussed. Will painless spending cuts accompany them in sufficient measure? History says no. If we have an economic downturn, and a tax cut and spend federal government, the fiscal reality will get very ugly. Mulroney’s last deficit adjusted for inflation, but not the size of GDP was 85 billion after eleven years in office. Look out.
But on the bright side……….
IT’S ALREADY GOLF SEASON FOR TORONTURDS!
I wouldnt read TOO much in that PEI result, they have never awarded any party 4 successive terms in their history so the Libs were on notice
28 Michael King on 04.24.19 at 6:09 pm
I’m voting green this time.
————————————————————————————————
Why not Canadians throw their votes away half the time anyway. What’s one more?
“As for the economic front, expect relief with the new government in November.” — MF
I am seriously wondering what people expect another government to do …. lower taxes and cut spending when people are screaming for more services? …. maybe reduce the deficit (as if that’s even possible these days). We’ve heard all these promises before, but of course, once elected …. well, you know the rest.
#32 50 YEARS OF MAPLE LEAF INCOMPETENCE! on 04.24.19 at 6:20 pm
You do know that anger is a poison – not for the people you direct it at, but the person that has it? Google it. Being angry is very unhealthy. Get outside. Try to improve the area where you live. Smile at someone.
In Ontario voters will be too scared to put in conservative gov’t at the provincial and federal level–Trudeau will take Ontario and Quebec and stay in power.Sad but that is how I see it playing out.
Regardless of which party ends up winning the fall election, I do not see the current economic woes being fixed by a change in leadership. Trump & party will be in full 2020 election mode. I don’t think ratifying a trade agreement is going to be on the ‘to do’ list any time soon. As for China, presumably the USA will pursue extradition of the Huawei CFO & if successful, it will be Canada who will suffer for it. We are an easy target to lash out at & thus ‘face’ is saved without the pesky issue of angering the USA. As for our citizens, those who are pickled in debt are unlikely to have dug themselves out of it before the autumn election. Promising rainbows & pony rides for all may get one elected, but delivering on that promise is a different kettle of fish entirely.
T2 still has his good looks and charm so why would Canadians not vote for the Libs?I know he’s a train wreck but that doesn’t matter in Canadian politics.
Poloz the clown spoke again today,I can’t believe this guy is allowed to repeat the same lies for the last 10 years.The truth is they can’t raise rates ever again because the goverment and the people are pickled in debt. 1.75% is going down to 0.25%.
#35 young & foolish on 04.24.19 at 6:35 pm
Perhaps. But little measures added up can have meaningful effects. Maybe get rid of the carbon tax, push the pipeline through, reduce corporate taxes. These things can have an impact on business morale/investment.
MF
liberals and tories,
two sides of the same coin.
sigh.
That’s less than the inflation rate, so it could be called an actual contraction.
—
Garth have you paid a utility bill or bought celery or some petrol for your bike lately? Seen the fees the cell phone and banks are adding to services? Property taxes?
No way in hell is inflation 2%. Its more like 5% or higher.
Why do some basement dwellers on a financial blog have a better handle on the economy than our grand poobah Poloz does with all his data and resources. A couple people in steerage back in November predicted recession for Canada. Now we are in it.
“There is no doubt that Trudeau will level these accusations at Bernier and Scheer at the federal level and a host of others at the provincial level. What else has he got? He certainly can’t run on his record”
Nothing wrong with Trudeau’s “record”. Despite all the naysayers that were laughing 4 years ago, the budget has balanced itself — the GoC has been running a surplus for the past 3 months and the cumulative deficits per annum have been a mere fraction of those averaged under the previous government. Major social issues have seen some progress instead of being mired in ideological nonsense, such as marihuana. Legalization of which has proven to be socially uneventful. The economy, bleh, seems to be doing just as well as it did under Harper — not great, but not that bad. Sure, there are some regional grievances, but there are some regions which majorly suffered under the previous government.
All Trudeau really has to do to keep his job and a majority government is convince Canadian voters that Scheer is “Harper 2.0”, which doesn’t seem to be that difficult of a task given that Scheer has done absolutely nothing to disavow the previous administration. Instead of actually getting a message out, any message, concerning his vision for the future of Canada, Scheer unfortunately fell into the trap that may very well have been skillfully set by the Liberals of wasting an inordinate amount of time on a nothing-burger, l’affaire SNC-Lavalin.
Lets be clear about the absolute Liberal ineptitude and incompetent to the point of being borderline evil. Too harsh? Not really. If not why did they let a hostile power set up shop near our best ally and trading partner. Yeah Trudeau did that.
Canada Installs Underwater Chinese Monitoring Devices Near US Sub Base
https://www.zerohedge.com/news/2018-10-22/canada-installs-underwater-chinese-monitoring-devices-near-us-sub-base
We are lucky Trump doesn’t waltz in here with the US Marines and put our banana state out of its misery. Actually an American invasion is the best thing that could happen to us.
Can’t Raise Rates?
39 Rexx Rock on 04.24.19 at 6:48 pm said:
The truth is they can’t raise rates ever again because the goverment and the people are pickled in debt. 1.75% is going down to 0.25%.
******************************
So the lenders get no say? Why are lenders lending to governments and people already deep in debt and doing so at ultra low rates?
The rules of supply and demand simply do not apply to the price of loans? (interest rates) Or is there some enormous surplus supply of funds to be loaned out (bigger than the massive demand for loans)?
THe only thing working in Trudeau’s favour is the fact that Sheer is even dimmer than he is.
You might ask how are conservative communist? Most communists want CMHC aka government aka taxpayers to intervene and inflate the housing bubble. Conservatives claim to be free and open market but never once have they demanded the shut doen of CMHC. I am an NDP/ Liberal and I like free markets. I demand CMHC be shut down so government doesn’t interfere in the free market. We all know thr communist conservatives SHYSTERS would go crazy and scream like wild animals . Communist conservatives want taxpayers money to subsidize private corporations with tax cuts or aka lost tax revenue. Then the communist conservatives will say services for the people will need to be cut. I hate communist conservatives the real communists. Some of the laziest people I know are communist conservatives
Heard today on a local radio station: “I dream of a world in which chickens can cross the road without having their motives questioned.”
Stan Brooks on 04.24.19 at 5:05 pm
#145 Tater on 04.24.19 at 3:59 pm
#138 Stan Brooks on 04.24.19 at 3:16 pm
https://forbeswealthblog.ca/2018/06/22/are-the-posted-inflation-rates-a-lie/
The real inflation/for dummies like Tater along with explanation on why the government lies about it.
—————————————————————
This is laughably dumb.
Yep, I am sure all retirees, savers and people on fixed income are laughing their behinds off as their purchasing power is not reduced but rather increased according to your idiotic statements.
Verbatim from the link:
https://forbeswealthblog.ca/2018/06/22/are-the-posted-inflation-rates-a-lie/
Furthermore, the way that inflation is measured over the decades has changed numerous times. If inflation was still measured the same way as it was in 1990, it would reflect a more accurate 6% inflation rate. If inflation was calculated as it was in 1980, it would be closer to 10%. Given these more realistic higher inflation rates, we are still theoretically in a recession…
Brainwashed Canadian idiot.
———————————————————
Stan, you’ve soiled yourself again. We’re talking about Canadian inflation and you’re quoting an article talking about the US methodology.
So, we’ve shown you can’t do simple math, and reading comprehension isn’t your strong suit either. Luckily you’ve got that winning personality to fall back on.
The BofC will likely cut over the next 6-9 months. The next time it raises it will be against its wishes and forced on it by the currency and bond markets. 2021 or 2022 at the latest
They will have little choice but to respond by raising rates to protect the aptly named Loonie and to appease bond holders (BofC will eventually fail) as the upcoming sovereign debt crisis forces rates higher
The best managers figure out a way to have their crew walk parallel paths to a common goal. Bad managers try and cram everyone onto the same pathway.
In my books that makes Trudeau a poor manager…of people, of country, of the narrative.
So, we Canadians elect Andrew Scheer and the Progressive Conservative Party of Canada. Two things about that.
1) Andrew Scheer? Get ready for the social cons to muddy the water, 4 years of fighting gay kids, nurses, teachers, woman’s health and nothing happening on the cut spend part. Unless it hurts whichever demographic they deem sub human. Look at Ford’s cuts.
2) If Scheer makes it under a majority they now have enough Provinces under PC rule to fiddle with the Charter. Be very careful with your vote in October. It may very well be time to vote strategically rather than along party lines. Think…do you want the likes of Scheer, Ford and Kenny playing with our Charter?
I urge you to lose the emotion and really ponder this…is it what you really want? I too would love a strong alternative to the current crop. I don’t see it tho.
I’d say he’s already lost even if he doesn’t start insulting his opponents. He’s already insulted all of Canada numerous times. He’s one of those people who should realize it is in his own best interest to keep his mouth shut. Unfortunately, it’s hard to do politics that way.
30 From Vancouver
-Umm Looks like you might want to separate from yourself since BC went majority red last election:
https://en.m.wikipedia.org/wiki/2015_Canadian_federal_election
MF
Greg Weston at 12:00 minutes says 2 more heading for the door from Trudeau party.
“not without profile” Hmm who dat?
https://www.youtube.com/watch?v=_njdMu8vPi8
“The sitting Lib premier lost his own seat.”
=====================================
The new normal. T2 will lose his seat on October 21, 2019.
#10 NoOneOfConsequence
yet where I work we are the busiest ever,
————————————————-
You must work for MNP Inc. https://mnpdebt.ca/en
I wanted to buy some shares but they are private. Only zombie companies available for the deplorable plebs.
14% of the S&P500 are drowning in debt zombies according to
~ James Grant
https://themarket.ch/interview/the-world-wide-suppression-of-interest-rates-has-been-something-very-near-to-a-crime-ld.85
I actually voted for Trudeau and genuinely liked the guy a few years ago. The virtue signaling and rehearsed, poorly acted public appearances have grown so old. A cardboard cutout would have more intelligent things to say and be far less annoying. He just needs to be done. It is over Trudeau. Retire and give your party a chance
Anyone using the phrase ‘virtue signalling’ on this blog will be subjected to reading Smoking Man’s deleted posts. Stop it. – Garth
#118 Smoking Man on 04.24.19 at 11:20 am
Not a good sign for Canadian economy.
USDCAD kisses 1.35 while price of oil surges.
People have known for a while no BOC spike.
Trying figure out why?
>Possibly capital flight. Martin Armstrong is saying that Euros are flowing into the US. (Rough approximation.) Germany’s the linchpin of the EU and is going into recession.
—
T2: The captain always goes down with his ship or the ship always goes down with it’s captain?
#12 MF on 04.24.19 at 5:31 pm
The carbon tax was the final straw, and it will seal the deal for Scheer.
The timing is just so lousy. The tax feels like an anachronism from the Obama era that is now firmly in the rear view mirror. So out of place.
The provincial elections are signalling what is to come.
As for the economic front, expect relief with the new government in November.
MF
_ _ _
Oh yeah, Climate Change is so 2015. Anyone who is anyone knows it stopped being an issue once the Orange One was elected in 2016. Make sure you tell it to those in Fredericton who are suffering through their second “Flood of the Century” in two years!
Trudeau is toast. If he wasn’t so destructive his lack of intelligence would place him well beneath contempt. That’s not saying much for Herr Harper either, the man who drove us to elect Trudeau.
“gutted TFSA contributions”
Factually correct but disingenuous. Harper knew he was out and threw a bomb at the incoming government. Lets see if the Tories reinstate the 10k limit.
#37 Big Bucks on 04.24.19 at 6:47 pm
“In Ontario voters will be too scared to put in conservative gov’t at the provincial and federal level–Trudeau will take Ontario and Quebec and stay in power. Sad but that is how I see it playing out.”
====================================
You are having a hard time seeing through the smoke, which is produced by the cheap weed you are smoking.
Here in the U.S., many are suffering from Trump Derangement Syndrome (TDS). I am assuming the equivalent for you would be Conservative Syndrome?
Anyway, get over it. Trudeau will get re-elected.
I forgot the “not” on the last line of my post.
Anyway, get over it. Trudeau will not get re-elected.
#40 Gravy Train on 04.24.19 at 7:24 pm
Heard today on a local radio station: “I dream of a world in which chickens can cross the road without having their motives questioned.”
—
Martin Luther King’s dream was much better.
Hopefully no tax payers money is drained on radio chickensh!t.
virtue signalling
Where are they?
Trudeau will be a one hit wonder.
Picking the middle class pocket with a smile is standard operating procedure. Doing it while lecturing the wallet owner is bad form.
#30 Vancouver:
‘Alberta, remember the “Trudeau salute” to Alberta? (…google it; he showed the finger to Alberta. This is what Justin is trying hard to implement.’
Didn’t he give that salute from a rail car in BC (Salmon Arm) in 1982? There may have been a few indiscretions along the way what every one of us is also guilty of….
He was also the Grand Parade Marshall at the Calgary Stampede Parade, not once but twice. Being asked is considered quite an honour. Remember Trudeau Mania? It was experienced everywhere in the country. Yes, there was a falling out. Old grievances are kept alive by those who cling to them like an old friend when they are feeling down about things. No one is perfect, but he was respected for his intellect and forward thinking, got some important stuff done, and the attendance at his funeral was impressive as were the crowds who came out to pay their respects. He will be remembered as one of our great Prime Ministers.
Don’t hang back with the ‘brutes’. Time to move forward.
I like that photo of Bandit with the beautiful reflection of the water and sky. I wonder what he sees in the water. A big fluffy dog looking back at him, I suppose.
#19 young & foolish on 04.24.19 at 5:45 pm
Our future seems to be slow growth and low returns.
You moaned that last year and markets just gained 16%. – Garth
——-
Come on Garth, 16% up after 20% down.
Love your insights but someone has to call you on this one.
Nothing to call. Markets setting new highs. You moaned for nought. – Garth
DELETED
T2 to introduce a plastic tax while he steers the SS Canada into a vicious recession.
Behold the anialtion of the liberal party of Canada come October.
I think it’s time for a Canadian dollar with a 6 handle.
In the space of four years, the Tories will allege, the Liberals turned a balanced budget into a string of deficits, added $100 billion to the debt, raised income taxes, gutted TFSA contributions, increased government spending, presided over a real estate bubble and managed to irritate not only our largest trading partner, but the Chinese as well. If the Bank of Canada is correct, the country could be borderline recessionary in another few months.
………………………………….
Not only that, next week we may be at war with the Philippines ! They are gonna put the stink on us big time.
My perspective of T2 is that he and his team are not Liberals. The ones that were, either resigned,were fired, or just got fed-up with his Kumbawa rhetoric and quit.
His great admiration of China then preaching to them did not go over well; American and India laugh at him, most of us just cannot figure the guy or his party out. They are so far off to left field with there ideals that just is not working or will not work in today’s world.
A great many Canadians are suffering under their system when there is absolutely no reason for it.
P.M. was just not for him; he could be a good university teacher of students that follow his ideals (so called libs etc) but to expect the rest of the country to follow a campfire idea; with such diverse backgrounds was a very foolish idea. The sooner he and his team are out the better.
Good job P.E.I….
There is a joke how can Trump win easily 2020.
He just have tweet that he considers himself a female.
That would make him:
– the first female US president
– the first lesbian US president
– first transgender US predident
– the first US president to merry an immigrant
It would signal many virtues for democrats to handle.
…so…I’d like to thank our host for yet again displaying a high moral standard in recognizing and hopefully eliminating insidious pop culture memes before they like
totally spoil the kings’ English.
#29 Dolce Vita on 04.24.19 at 6:13 pm
You may be the most passive aggressive person on here… Or just unbearably annoying with your constant “advice”, culture critiques, and I told you so’s… even with all this against you, I still like reading your posts…
I’m sure.you know, but Canadian’s use of “sorry” is synonymous with “excuse me”… So please stop being such a condescending wonk.
Provinces often vote for a different party than the current governing federal one. Google Conrad Black on JWR. Not so black and white. Don’t count out Mr dress up yet. See CBC poll tracker. With all the self destructive things the Libs have done never mind the bad press one would think the conservatives would be well in front but they are not. It will be entertaining.
When being tarred and feathered and run out of town, a politician can pass it off as a parade. Wait for the signs.
#59 AGuyInVancouver on 04.24.19 at 7:50 pm
-My post was about policy, not science.
The Obama era is over, and the stomach for a carbon tax in the electorate is much less now than it was in 2015.
Political sentiment does change.
MF
#46 Timmy on 04.24.19 at 7:14 pm
Go back to stacking blocks and colouring with crayons “Timmy”… If you actually believe that, you’re the “dimmest” of all.
I will be voting for the party that is conservative. That may or may not be the party that uses the word conservative in their name. Right now I doubt it but I will see.
Anyone that voted for Trudeau, Notley or Horgan
Is one stupid person!!!!
That elevated us. – Garth
#35 young & foolish on 04.24.19 at 6:35 pm
“As for the economic front, expect relief with the new government in November.” — MF
I am seriously wondering what people expect another government to do …. lower taxes and cut spending when people are screaming for more services? …. maybe reduce the deficit (as if that’s even possible these days). We’ve heard all these promises before, but of course, once elected …. well, you know the rest.
$$$$$$$$$$$$$$$$$$$$$
At this point in time the first guy/gal who offers each and every Canadian 500K, 5 years of free phone service, a new car, a free pizza for a year – will get my vote.
I will remain a strategic voter until someone show’s me the money or at least a viable plan going forward. This back and forth to the same old crap is stupidity. Time to limit terms for politicians. I’ll vote for that.
Term limits means the nation is always governed by the inexperienced. It is a horrible idea. – Garth
“In the space of four years, the Tories will allege, the Liberals turned a balanced budget into a string of deficits, added $100 billion to the debt,”
Only problem is, the data shows that they’ve only added about $53B to the debt over 3 and 1/3rds years in office:
November 2015 = $650B
March 2019 = $703B
Annualized average deficit ~= $16B (compare and contrast to Harper’s average of $27B!)
Will the Tories stoop to outright lying about Trudeau? Didn’t they learn their lesson about the folly of doing so in 2015 when they ran a campaign largely based on attacking Trudeau’s relative youth?
#81 Stupid Canadians on 04.24.19 at 9:46 pm
Anyone that voted for Trudeau, Notley or Horgan
Is one stupid person!!!!
That elevated us. – Garth
*******************
They got in because the other choices were immoral, incompetent and utterly self serving.
How’s Ford doing with Ontario’s credit rating?
Was Harper immoral or incompetent? – Garth
My mortgage is coming up for renewal with the penguin bank. The options I was presented with are 3.02% fixed for 3 years, or prime -0.75% variable for 5 years. It probably doesn’t matter much since rates will likely stay low, but which do you think is the better way to go?
The Election will decide itself
#76 Habbit on 04.24.19 at 9:07 pm
Provinces often vote for a different party than the current governing federal one. Google Conrad Black on JWR. Not so black and white. Don’t count out Mr dress up yet. See CBC poll tracker. With all the self destructive things the Libs have done never mind the bad press one would think the conservatives would be well in front but they are not. It will be entertaining.
*************
Adding to this – 6 months is a long time. How many of us remember what was going on 6 months ago in Politics.
How many people really pay attention to politics, housing, finance/debt etc.
Right now it is still Trudeau’s to loose (imo) maybe he is sitting at a minority. A minority government is a gift to democracy as groups are forced to work together and not go over board as we have experienced with majority governments over the past 30 years (being elected with 39% percent of the vote).
The swing vote will determine who wins, not the blind nutty partisan base.
Independents who represent their communities – now that’s the way to go! No more parachuting candidates in from somewhere else. No more shit talking or misrepresenting the facts/truth.
We deserve better, not us and them…just us – you me and our families and friends!
The key government 5-year bond dropped below 1.5% again, and could test its 12-month low. That’s a stunning plop of a full 1% since last autumn. In the bond world, this is Stormy Daniels.
the news here is the tone. I sense alarm.
The middle class world in which I grew up, has faded but now I sense alarm that substantial portions will suddenly be erased.
Danielle Park: At the same time, Canadians are struggling with some of the least affordable home prices in the world (inflated by years of easy lending and debt addition). The more and longer one pays for shelter and related costs, the less one saves for other goals like retirement and children’s education. Meanwhile, Canadian household consumption has been driving some 60% of the nation’s economy (GDP). Bottom line: Canada has never been less prepared for an economic slow down/income loss/rise in unemployment, and yet it is underway nonetheless.
I would say the middle class has never been less prepared for an economic slow down/ income loss/ rise in unemployment but it’s here anyway. Justin Trudeau is an idiot. He is saying that the middle class is secure and prosperous and it’s going to be more secure and prosperous. As well, he will lead us into a new world of gender equality. He’s not promising a climate that is stable and benign but he is promising us a position of virtue. The middle class is not secure and prosperous. The very best that the government can do is mitigate the damage. Keep people working. Build the pipeline. I think everybody, sees a housing bust. Keep the stress test – let people down gradually. Preserve the system we’ve got.
More ‘Climate Lies’ exposed. A major propaganda store has once again been caught spitting in the truth bowl.
https://business.financialpost.com/opinion/netflix-is-lying-about-those-falling-walruses-its-another-tragedy-porn-climate-hoax
Not long ago they were plastering pictures of a lost and evacuated polar bear cub on an ice flow, likely sick and abandoned, real life is cruel. But the picture on the glossy fund raising brochure was screaming “Climate Change Killing Polar Bears”. The campaign was likely launched from a Green Carpet Baggers hilltop mansion in San Francisco.
“It’s time to fight back against the American liars who are wrecking Canada’s economy by subsidizing Trudeau “, to paraphrase Premier Kennys election night promise. Yes it is Mr Kenney. It’s time to put the climate con artists in prison.
@ #85 Mortgage Renewal
#49 Tater on 04.24.19 at 7:25 pm
Stan Brooks on 04.24.19 at 5:05 pm
#145 Tater on 04.24.19 at 3:59 pm
#138 Stan Brooks on 04.24.19 at 3:16 pm
—————————————————————
Bottom line inflation is a hell of a lot higher on mainstreet. I could care less what THEY measure or HOW they do it or how they move the goal post or what they include (ex., ground beef but not steak).
I notice the difference in my wallet. Cars, bikes, fuel, electricity, food, alcohol, houses, rent, shit from Walmart/Canadian tire etc, fast food, telecom, internet have all gone up steadily in the past ten years.
With no real substantial wage gains.
Go research Mainstreet.
@ #85 Mortgage Renewal – I would go with the 5 year variable, which in studies has shown to be the better, less-costly option….also much easier to lock in later, if you get cold feet, rather than getting out of a fixed rate option. To get out of a variable rate mortgage, it’s always just a penalty of 3 months’ interest. Getting out of a fixed rate is a complicated bit of math that could cost a lot more.
#45 Shawn Allen on 04.24.19 at 7:13 pm
The rules of supply and demand simply do not apply to the price of loans? (interest rates) Or is there some enormous surplus supply of funds to be loaned out (bigger than the massive demand for loans)?
*****
Essentially, yes. To quote the Bank of England quarterly article, ‘Money Creation in the Modern Economy” from 2014:
“Money creation in practice differs from some popular misconceptions — banks do not act simply as intermediaries, lending out deposits that savers place with them, and nor do they ‘multiply up’ central bank money to create new loans and deposits. The amount of money created in the economy ultimately depends on the monetary policy of the central bank.”
https://www.bankofengland.co.uk/quarterly-bulletin/2014/q1/money-creation-in-the-modern-economy
#3 Bill Grable on 04.24.19 at 5:00 pm
The Economy in BC – is in freefall. They are going to point at Mr. Socks and blame him for this mess.
***************************
Let me fix this for you…
The Economy in Canada – is in freefall.
Actually how about World for that matter. China already applying credit stimulus. Germany treading water, Australia etc.
Because govt is ineffective, overreaching and incompetent I choose the party that stands for less govt which should give less of those three things. Word to the wise, it aint Libs, Greens or NDP.
Anyone who is mad at Ford or Harper and now Sheer probably has their head deep in the socialist trough and doesn’t want to get cut off now and have to fend for themselves.
#84 DON on 04.24.19 at 10:00 pm
#81 Stupid Canadians on 04.24.19 at 9:46 pm
Anyone that voted for Trudeau, Notley or Horgan
Is one stupid person!!!!
That elevated us. – Garth
*******************
They got in because the other choices were immoral, incompetent and utterly self serving.
How’s Ford doing with Ontario’s credit rating?
Was Harper immoral or incompetent? – Garth
_______________
Past my post limit but to answer.
Utterly self serving. Harper Government.
#82 DON on 04.24.19 at 9:55 pm
…This back and forth to the same old crap is stupidity. Time to limit terms for politicians. I’ll vote for that.
Term limits means the nation is always governed by the inexperienced. It is a horrible idea. – Garth
**************
It is horrible going back and forth.
Your type of experience may help us and others with similar experience as well. But we don’t get your type of experience – that always seems to be pushed aside.
We seem to get something that we always end up regretting.
Limit to 3 or maybe 4 terms…enough for a pension per service to your fellow constituents.
Rates continue to remain low.
What is this, Japan?
Thought it couldn’t happen here?
So much for those bond market forces.
I’m a knuckle dragging neandercon, no doubt about it. I like a government to run the country like I run my household. I think Trudeau is the single worst PM to have presided over the great white north since the day I was born. No PM has been worse. He’s the kind of Guy that makes me want to hide the fact that I am Canadian.
However, despite my calloused knuckles, do I think the Cons or the NDP would turn things around in a significant, meaningful way given a majority? Harper was just starting to shine and we booted him because he was a meanie who did backroom deals with big corporations…
Let’s cut through the crap and level the cross hairs on reality. Current day Canadians can’t take the pain of withdrawal. Yet, the pain will come anyway, unless something is done. The fact is, Scheer might get a little done, then Canadians will boot him out. Same with whoever comes next. Canadian voters are the base problem. I don’t know what happened over the last few decades.
Go ahead and vote, but more importantly; do not feed them. Problem number one is debt, number two is spending – I can help them with those problems by removing options. So can you. IMHO, all Canadians should be aiming their MP’s feet towards the fire. Remove choice, remove options; steer them if they can not drive on their own.
SJW and Environmental issues are for countries rolling in cash with great economies and excellent prospects – that’s not us. Not anymore. We need to be utterly broke with nowhere to turn before good decisions can be made.
That goes no matter who’s running the show.
Here we go again!!
From The Taxpayers Federation.
The Trudeau carbon tax is bad enough and now Ottawa is working on a plastic tax.
A recent report commissioned by Environment Canada proposes to hit Canadians with yet another tax. This time it would be on something all of us use every day: plastic.
It proposes a plastic tax. It says it “could lead to increase consumer prices.” The report is oddly silent about how much a plastic tax would cost taxpayers, but it’s a good bet the number would be in the billions.
@#66 The Jaguar
“Didn’t he give that salute from a rail car in BC (Salmon Arm) in 1982?”
+++++
Ever been to Salmon Arm railyards?
Trudeau senior wasnt giving the finger to the protesters.
After opening the curtains and looking around…..
He was giving his opinion of downtown SA.
@#48 Gravy Train
” “I dream of a world in which chickens can cross the road without having their motives questioned.”
*****
I dream of chicken with gravy………
https://www.youtube.com/watch?v=b-eszXRCpDc
#59 AGuyInVancouver on 04.24.19 at 7:50 pm
#12 MF on 04.24.19 at 5:31 pm
The carbon tax was the final straw, and it will seal the deal for Scheer.
The timing is just so lousy. The tax feels like an anachronism from the Obama era that is now firmly in the rear view mirror. So out of place.
The provincial elections are signalling what is to come.
As for the economic front, expect relief with the new government in November.
MF
_ _ _
Oh yeah, Climate Change is so 2015. Anyone who is anyone knows it stopped being an issue once the Orange One was elected in 2016. Make sure you tell it to those in Fredericton who are suffering through their second “Flood of the Century” in two years
—-
Right, so you’re one of those guys who reads selectively enough to believe the carbon tax revenues are put towards efforts at reducing C02 emissions. Dude, “general revenues” – that’s where the money is going.
C’mon man, the carbon tax has got **** all to do with the environment, they’re not even pretending it does. It will be used for things decidedly unrelated to carbon output as decided by the government itself. They say this to us in plain English, you don’t even need to do any more than just open your ears and listen to what they’re telling you.
Say it with me now – “cash grab”
I knew you could :)
I don’t have faith in the rate predictions… if the last years predictions were saying rates were gonna increase and now they say they were wrong, who is to say they are right this time?
I think the Fed, BoC, etc. are just messing with the inputs used by algorithmic traders with all the controversial rate hike/unchanged/decrease talks.
Fool me once shame on me, fool me twice shame on you!
#51 Ustabe on 04.24.19 at 7:34 pm
So, we Canadians elect Andrew Scheer and the Progressive Conservative Party of Canada. Two things about that.
1) Andrew Scheer? Get ready for the social cons to muddy the water, 4 years of fighting gay kids, nurses, teachers, woman’s health and nothing happening on the cut spend part. Unless it hurts whichever demographic they deem sub human. Look at Ford’s cuts.
2) If Scheer makes it under a majority they now have enough Provinces under PC rule to fiddle with the Charter. Be very careful with your vote in October. It may very well be time to vote strategically rather than along party lines. Think…do you want the likes of Scheer, Ford and Kenny playing with our Charter?
I urge you to lose the emotion and really ponder this…is it what you really want? I too would love a strong alternative to the current crop. I don’t see it tho.
——————
Your premise is to not vote blue because of the possible future things they will do while acknowledging that the current red team have actually done some crappy things.
In the 21st century where tweets count for more than it should, how about Canadians use this new tool and send their leaders of choice some straight critique of how they should be representing you. For red lovers, how about hammering Justin with things like, “You lied about election reforms and are introducing a carbon tax burden that isn’t shared by big polluters… This is why I’m not voting for you in Oct”. For the blue lovers, how about “Andrew, get a platform instead of just attacking Liberal polices. Repeal the Carbon tax and cut government waste or you won’t get my vote”. If enough Canadians hammer their parties with these concerns, it will be picked up by their handlers and relayed.
Nice little primer on laundering:
https://wolfstreet.com/2019/04/24/how-a-little-money-laundering-can-have-a-big-impact-on-real-estate-prices/
I pledged my next vote to the Greens back in 2015. It was when Justin promised that my vote would count in the next election. Proportional Representation in 2019, eh?
Fool me once….
I’m not going to participate in strategic voting any longer! Imagine the concept.
#49 Tater on 04.24.19 at 7:25 pm
Ignorance combined with arrogance and superiority complex not matched by intelligence and logic.
So sad and so typical for large portion of the population of brain-frozen land these days.
You assume that our statistics is better than the US one.
Here is some info from BoC and stats Canada:
https://www.bankofcanada.ca/wp-content/uploads/2012/08/boc-review-summer12-sabourin.pdf
http://www23.statcan.gc.ca/imdb/p2SV.pl?Function=getSurvey&Id=490783
Yes, we utilize the same ‘methodologies’ as US, including substitution – when beef goes up in price they substitute it with chicken and pork and then with raccoon asses. It is still meat, right?
I hope you enjoy the latest.
Yours is a diagnosis. Must be due to the fluoride in the water.
Reminds me of a dialogue with a friend of mine:
– We have the best health care in the world.
– Really, with one primary care provider who decides whether you live or die and a year waiting time for a specialist?
– Yeah, but it is free
– Yeah, but you practically can’t use it.
– Yeah, but I am repeatedly told it is the best so it must be truth…
———————————-
The same as with the real estate cartel ‘protecting privacy’ in order to fight data transparency.
The same with the ‘most prudent banks in the world’ who need protection for their ultra sub prime loans by the taxpayer.
The same as price fixing cartels who work ‘in order to best serve the customer’.
The same as with liberal idiots who kill small businesses, ‘working for all Canadians.’
————————————————-
Bottom line: It seems that the average Canadian (who is 200 $ short of bankruptcy) apparently does not care about his CPP and OAS indexed properly as per the proper inflation, he/she/zer simply does not want to hear the bad news, just the good one.
Putting your head in the sand won’t help you pay your bills.
Of course inflation is above 6 %, in the last 3 years probably above 8 % or even 10 % for essentials.
Of course we notice shrink-flation and deteriorating quality of goods.
It seems this will go for quite a while longer, but hey, normalcy in a mental institution is a luxury you should not expect.
Cheers,
#46 Timmy on 04.24.19 at 7:14 pm
THe only thing working in Trudeau’s favour is the fact that Sheer is even dimmer than he is.
———————————
Scheer never struck me as dumb. Not really sure why you would think he is. He is far too globalist for my taste, but in terms of intelligence he can run rings around Sock boy.
And in any case, intelligence is not always a plus in election campaigns. Preston Manning, by far the most cerebral federal politician since PET, never managed to win.
Well done Carole James! Keep the housing taxes and regulations coming (I’m serious).
https://www.cbc.ca/news/canada/british-columbia/vancouver-s-rental-prices-have-stopped-climbing-1.5108322
Vancouver’s sky-high rental prices appear to have stopped increasing. Data from one analyst even suggests the price of units have dropped.
Re: yesterday’s post.
Basically, if you hate your children, take out a reverse mortgage.
Now how does one encourage one’s aging parents to avoid this scam without having it seem ghoulish, like you’re after the equity yourself? Seems like a delicate subject that the Boomers will have to figure out themselves.
https://twitter.com/maximebernier/status/1120734234262548480?s=21
How long until bitcoin ramps up in political dialogue. This comment is in no way an endorsement of the tweeter. Simply posting it.
“We’re less than six months from the next federal election… and the worst is yet to come.”
Yes indeed Garth. Canada will get a Tory government who will further borrow and spend the nation into oblivion. No change for the better is allowed.
Prepper Update
This week Loblaws has a good price on chicken and beef broth, $1.49, as well as maple syrup, $8.99.
Never underestimate the psychological value of sweets in a bunker. Syrup and confections with protein are very useful and last a long time.
Broth is also very useful in end times as it can make palatable dishes out of other leftovers. The broth on sale this week has an expiry date of June 2020, which you can add a few months too with little risk if cooled.
These types of items will get you past the first and second aftershocks of Trumpocalypse. (And no, there will NOT be a presidential election in 2020. Too few will be left to vote)
Chaos will be unraveling shortly as Trump attempts to avoid legal disclosures. It will take your breath away.
PREPARE
#18 PastThePeak on 04.24.19 at 5:43 pm
@ Tater
There is absolutely no doubt that the methods used to calculate CPI over time have changed. Inflation (as determined by this CPI proxy) is lower now on the most recent (since the 90s mostly) calculation method than was used in the past.
Regardless if one views the current approach (cost of living) vs. previous cost of goods as being better, when comparing historically it is important to note the difference.
There are multiple articles which make the case that, under the past COGS method, inflation would be above 5% compared with sub 2%. Maybe the method today is better, but it isn’t something widely discussed.
The link that I provided gives indexes that are specifically designed to allow for comparisons across time. It’s the sole reason why they exist.
The COL methodology is superior because it better captures how households behave in a market economy. Households don’t really care how their income gets allocated to spending categories, as long as their needs are met. Because of this there is a portfolio effect to inflation where the categories that have high inflation can be offset by those that have low inflation or deflation. Additionally, households can benefit from increasing quality or by changing their consumption mix. This is primarily done though hedonic adjustments and substitution effects.
Hedonic adjustments are supposed to capture the phenomenon of increasing goods quality per dollar spent. As an example, in 2005 or 2006 I bought a 42 inch flat screen TV. If I remember correctly, it cost about 6k CAD. Recently, I just bought a 65 inch TV, that cost 1800 CAD. That deflation represents a serious benefit to me as a consumer. It should absolutely be used to offset an increase in food costs, as an example because the impact to the household is that we have more cash available to spend on food now that our TV costs have come down dramatically. And, yes, I get that people only buy a TV every 5+ years or so. But, this same thing has been happening with many different categories of goods. Economy cars today have the build quality and features of luxury cars from 15 years ago. From 1986 to now, household spending on clothing and footwear as a percentage of income has halved! And I expect most people today have far larger wardrobes than the average person in 1986.
Substitution effects are clearly seen with Netflix. A household may have been spending $200 per month for cable, but they can now spend $15 on Netlfix and reduce their cable bill accordingly. The household is happy, because they are still satisfying their need for entertainment at a much lower cost. Again, this leaves more income to be deployed to other spending categories.
Cranks like Stan, who seem to only spend on food, shelter and gasoline aren’t really full participants in the economy, either because they don’t earn enough to have much spending above subsistence or because they are misers. Monetary policy shouldn’t be tuned to their whims, as the economy can’t function if everyone were to behave like them. Additionally, there is nothing that monetary policy can do to allow these people to more fully participate.
Again, for all the inflation cranks, if inflation was actually at 8% per year, the average person’s standard of living would drop about 40% every decade. This is plainly not happening.
Garth et al:
Looks like the PM and his party will have very few seats after the next election.
Bravo for the carbon Taxes….brilliant idea.
Every Canadian, every time they fill up, it is all they can think about….how much they are getting soaked.
Yup…maybe one or two seats if they are lucky….I predict a conservative Majority after the next election.
Maybe we didn’t evolved as much as we think…
https://www.instagram.com/p/Bwf080_Bfby/?utm_source=ig_share_sheet&igshid=j2rxx4sr3lar
#32 50 YEARS OF MAPLE LEAF INCOMPETENCE!
IT’S ALREADY GOLF SEASON FOR TORONTURDS!
—————————————————————-
Live cam on Leaf Nation:
https://www.youtube.com/watch?v=HkAuPGA1ShY
It would appear that the budget did not balance itself…..
@ #10
Treat it all as a ticker tape of data points. As soon as it’s issued, it is largely outdated.
Debt is huge across the board and requires raising the cost of money in order to dig out of the slump.
Keep your balance sheet growing, that’s practically the only relevant fiscal data point you’ll ever need….
…..don’t waste emotion in the endless steaming piles of msm bs.
#96 DON on 04.24.19 at 11:13 pm
Utterly self serving. Harper Government.
C’mon, Don – how many decades has it been since Canada had a government that wasn’t?
– and yeah – I’ve always maintained that insisting on calling it “the Harper government” instead of what it was (the government of Canada) told us a lot more about Harper than he likely wanted to give-away…
Stan, you need to form a political party and put this lost land back on track. You would have my vote!
#32 50 YEARS OF MAPLE LEAF INCOMPETENCE! on 04.24.19 at 6:20 pm
But on the bright side……….
After another disappointing Leafs loss, we had a funeral yesterday and the pallbearers were all Toronto Maple Leafs players. Apparently the deceased had willed that the pallbearers be Leafs players so he could be let down one more time!
#115 Tater on 04.25.19 at 7:56 am
—-
Seriously you wrote all that trying to claim inflation is 2%. Peoples lifestyles are subsidized on debt. Have you seen our massive debt pile? That’s how people deal with rising inflation. They will do whatever it takes not to let their lifestyle suffer even if it means taking on long term debt.
The cost of housing has tripled in this country and that’s not all from people dreaming about Moen faucets. Electricity has doubled. Our dollar is at record lows and we import most of what we need.
#99 IHCTD9 on 04.24.19 at 11:42 pm
… I don’t know what happened over the last few decades. …
I can answer that – our Press stopped giving us “News”, and focused-on feeding us “Views”. Mostly lefty pabulum; FFS, a lot of the country (including many too many of my relatives) still take the CBC as gospel; need I say more?
Bottom line on Canadians is, we have no way to find-out what’s going-on in the country – and “they” won’t tell us. I’ve carped this here before; our governments, LIE-beral and CON-servative, have devoted ~half a century and billion$ of taxpayer dollars to putting the Canadian voter to sleep and keeping us there – and now we only wake-up angry or hungry, and we only vote out.
#103 IHCTD9 on 04.25.19 at 12:14 am
… C’mon man, the carbon tax has got **** all to do with the environment, they’re not even pretending it does. It will be used for things decidedly unrelated to carbon output as decided by the government itself. …
– Nonsense! It’s already being put to good environmental use – what about that $12 million to refit all those Loblaws freezers? { /sarc, if I gotta’ say it ;p
#124 not 1st on 04.25.19 at 9:14 am
#115 Tater on 04.25.19 at 7:56 am
—-
Our dollar is at record lows and we import most of what we need.
—————————————————————-
How can anyone take you seriously when you write things like this? Were you born in 2004?
@#114 Trumpaloozah2019
“Never underestimate the psychological value of sweets in a bunker. Syrup and confections with protein are very useful and last a long time.”
+++++
Lollipops and Oxo cubes.
Got it.
#63 akashic record on 04.24.19 at 8:02 pm
“Martin Luther King’s dream was much better. Hopefully no taxpayers’ money is drained on radio chickenshit.” You do know that the remark by the radio announcer was just a joke, right? Do you need to have the joke explained to you? :P
Wages have remained stagnant and the standard of living dropped for regular folks, while the rich got even richer under both Liberal and Conservative governments over the last few decades.
People know that no matter which of those two win, all they’ll get is more of the same. That’s why people are electing populists and newcomers.
We can either elect a left wing, progressive populist like Bernie Sanders, or we’ll elect a right wing, regressive populist like Trump, Duterte, or Bolosnaro. Those are our choices.
Yet more evidence that humans may not be the sharpest knives in the drawer.
https://www.theatlantic.com/ideas/archive/2019/04/what-makes-candidate-authentic/587857/
Tater, people can’t handle the truth
Tater gives a great discussion of inflation at 115. … and is promptly rebuffed.
The thing is most people are not looking for actual facts and analysis. Their minds are made up. They seek confirmation. And many, most of all, seek someone to blame for their difficulties in life. They have not succeeded financially as much as they would like. There must surely be someone to blame.
Interesting article in today’s G&M: “Stress-test rules play ‘small’ role in home-sales drop: BoC”
Key excerpt:
“The federal government’s mortgage stress test rules are responsible for only a small part of the drop in home sales in Canada in the past two years, while a peak in prices and the bursting market bubbles in Toronto and Vancouver have played the biggest role in curtailing sales, according to a Bank of Canada study.”
#126 Tater on 04.25.19 at 9:26 am
How can anyone take you seriously when you write things like this? Were you born in 2004?
—————————————————————-
Sure buddy the reason I think inflation stats are whack is because I was born in 2004. Nice one.
I assume you must live near the statscan office? Get a grip.
#100 Nothing Surprises on 04.24.19 at 11:44 pm
Here we go again!!
From The Taxpayers Federation.
The Trudeau carbon tax is bad enough and now Ottawa is working on a plastic tax.
A recent report commissioned by Environment Canada proposes to hit Canadians with yet another tax. This time it would be on something all of us use every day: plastic.
It proposes a plastic tax. It says it “could lead to increase consumer prices.” The report is oddly silent about how much a plastic tax would cost taxpayers, but it’s a good bet the number would be in the billions.
___
Of course. Canadians have already indicated they are fine with blatant cash grabs, just so long as it is dressed up to appear to serve some kind of SJW/Climate issue.
It doesn’t even matter if the new revenues get stuffed into the general account never to be seen again – hoards of Canadians will still think the new plastic tax is doing something good for the environment.
Maybe we do need another T2 majority. 4 more years of him and half the country will be lucky to still have a job. Maybe some will start thinking about what things are most important for Canadians.
IMHO, we’d better start learning how to avoid/offset taxes, and the finer points of living dirt cheap. It’s extremely difficult to avoid/offset taxes on things like energy, carbon, plastic etc… short of becoming a single parent with 4 kids. That’s where it’s headed – taxes on things that make up the very fabric of modern civilization that the average Joe can’t work around outside of consumption.
#115 – Tater
That explanation on inflation is very helpful, thank you
Personal bias they mentioned…
https://youtu.be/ksb3KD6DfSI
#69 Smoking Man on 04.24.19 at 8:26 pm
T2 to introduce a plastic tax while he steers the SS Canada into a vicious recession.
Behold the anialtion of the liberal party of Canada come October.
………………………………………………………………..
To bad you can not be part of the re-taking of Canada from the Liberals. When the heads roll in October we will send you pics. Beer, blood and hockey sticks, Canada will rise again!
Hey Ponzie!
Ms. IH received her renewal for her motorcycle insurance yesterday.
Down 100.00
All that’s left are the two ATV’s, I’ll be sure to let you know if they go down too once I see the renewal.
Got to love an insurance system that the government doesn’t run!
#115 Tater
“Cranks like Stan, who seem to only spend on food, shelter and gasoline aren’t really full participants in the economy…”
My dear Tater, you must have missed the memo on the fact that poor Stanley is in a sanatorium and spends his days between his rubber room and his weekly electric shock treatments. You also may have missed the memo that his paranoia about inflation was caused during one of his monthly excursions to the burrito stand outside the sanatorium and his shock at the price increase…
#82 DON on 04.24.19 at 9:55 pm
#35 young & foolish on 04.24.19 at 6:35 pm
“As for the economic front, expect relief with the new government in November.” — MF
I am seriously wondering what people expect another government to do …. lower taxes and cut spending when people are screaming for more services? …. maybe reduce the deficit (as if that’s even possible these days). We’ve heard all these promises before, but of course, once elected …. well, you know the rest.
$$$$$$$$$$$$$$$$$$$$$
At this point in time the first guy/gal who offers each and every Canadian 500K, 5 years of free phone service, a new car, a free pizza for a year – will get my vote.
I will remain a strategic voter until someone show’s me the money or at least a viable plan going forward. This back and forth to the same old crap is stupidity. Time to limit terms for politicians. I’ll vote for that.
Term limits means the nation is always governed by the inexperienced. It is a horrible idea. – Garth
…………………………………………………………….
Having said that term limits are not a good idea. It is the people that are stupid for electing a stupid politician with or without without term limits. Term limits as Garth stated could end up giving us another T2, just as inexperienced and as it turns out as ineffective as he is.
Now I’m just wondering when Mr socks will be standing on the dock to apologize to Philippine President Rodrigo Roa Duterte when he sails the garbage scow back to Vancouver’s port. “Hello President Duterte, I’m Justin Trudeau and I’m officially here to say sorry and on behalf of peoplekind of Canada please kick my butt” “Would you like a hug?”
PEI election:
Andrew Coyne: The story of the election, with possible reverberations nationwide, was of course the historic breakthrough of the province’s Green party.
no it’s not
He had it right the first time: Conservatives won. Electoral reform lost. Again.
https://nationalpost.com/opinion/andrew-coyne-we-are-trying-to-stuff-multi-party-politics-into-a-system-built-for-two?video_autoplay=true
#36 Lead Paint on 04.24.19 at 6:36 pm
#32 50 YEARS OF MAPLE LEAF INCOMPETENCE! on 04.24.19 at 6:20 pm
>>You do know that anger is a poison – not for the people you direct it at, but the person that has it? Google it. Being angry is very unhealthy. Get outside. Try to improve the area where you live. Smile at someone.>>
While I agree with Mr. Paint’s message, it is a tad ironic that his handle is Lead Paint.
@115 Tater on 04.25.19 at 7:56 am
Thanks for the detailed reply. I do agree that making adjustments for new goods, and improvements in goods, and some substitutions is required.
What matters is how it is done. Are substations and adjustments reasonable, or pure ivory tower thinking that do not translate to the real world? Since the details are not shared publicly, it is hard to analyze.
Essentials are not the only story, absolutely, but where is the majority of household money spent on average? Shelter, food, utilities, transportation, and entertainment. These have been increasing by greater than 5% (some cases more than 10%) per year over the last number of years (on average), and yet the inflation rate calculated is sub 2%?
Hard to square that. I buy a TV every 7 years maybe, about same for computer. Smartphone every 3 years. Only spend maybe $1-2K per year on clothes. So for the items which go down in price (smartphones stay the same mostly, as do computers now), the amount spent is small compared with the items which increase in price.
And as @124 not 1st on 04.25.19 at 9:14 am mentions, saying that standard of living is not dropping is ignoring the increase in household debt to finance it.
Anyways, not worth arguing more, but one can’t just take a black box figure from a gov’t department and say “that is all there is to know folks”.
@ #24
October can’t come soon enough.
Yes you knew it all along, Vancouverites are officially at the top of the list for really dumb ass Mills.
https://www.thestar.com/vancouver/2019/04/24/how-to-sell-a-condo-to-millennials-in-vancouver-with-a-side-of-free-avocado-toast.html
@ #34
Just what I was thinking – and likely what Libs are hoping for.
#125 Y. Knott on 04.25.19 at 9:20 am
– Nonsense! It’s already being put to good environmental use – what about that $12 million to refit all those Loblaws freezers? { /sarc, if I gotta’ say it ;p
_____
Well SOB, now that you bring it up – my freezer’s been making some funny noises lately. Sounds a lot like insane massive C02 production going on in there – I’m also going to need a free upgrade soon or the planet is doomed.
I’m sure the job could be done for much less than 12 mil too – like maybe only 1-2 mil!
I don’t mind the 12 Million McKenna gave to her bread price-fixing Billionaire buddies. I prefer to think on the positive side of things – like the 1 millionth of one tenth of one percent reduction in national carbon output these new freezers will realize. Well worth the tens of millions spent!
Aren’t like 40% of people up for mortgage renewal this year?
Will the BOC just withhold the key interest rate until this year is over and all these 40%ers have locked in for, yet again, another 5 years of low rates?
Once that’s done, they’ll begin increasing again…..right?
Then down comes the market! Maybe this is just a conspiracy theory lol
@#99 IHCTD9 We need to be utterly broke with nowhere to turn before good decisions can be made.
That statement is not only true, but has the weight of historical precedent. Paul Martin’s watershed 1995 budget was enacted under just such a scenario. The Canadian government was broke. The Wall Street Journal ran a headline calling Canada a third world country propped up by first world borrowing. In late 1994, we very nearly had a failed bond auction, which scared the crap out of the entire Finance department.
That kind of fiscal nightmare was, as it turned out, exactly what the doctor ordered. It gave the government a clarity of purpose that ultimately resulted in making the necessary tough choices. Up to that point, Paul Martin had preached the need to “grow our way out of deficit”, as opposed to “hacking and slashing” our way out. In 1995 he did a total about-face, and slashed federal spending like no one had before. By 1997, we had a balanced budget. Perhaps more remarkably, enough Canadians respected what the government had done to give them another majority mandate.
Sometimes, things really do need to get worse before they can get better. In late 1994, the government of the day discovered its uncle point. I wonder where that point will be this time. We live in different times of course. Nowadays, there is a belief – and a precedent – that a country can use “creative monetary policy” to avoid making the hard decisions. So I suspect our modern day uncle point will have to be far worse than it was in 1994 before we see a restoration of limited, effective, focused government. We will no doubt try every monetary voodoo in the book first. MMT anyone?
#148 NotLegalAdvice on 04.25.19 at 12:03 pm
Aren’t like 40% of people up for mortgage renewal this year?
——
If you buy into a 5 year term as the typical Canadian mortgage then simple math says its more like it average out to 20% renewing any given year though shorter terms and any above average sales years will distort that…
#147 IHCTD9 on 04.25.19 at 11:42 am
Well SOB, now that you bring it up – my freezer’s been making some funny noises lately. Sounds a lot like insane massive C02 production going on in there – I’m also going to need a free upgrade soon or the planet is doomed.
I’m sure the job could be done for much less than 12 mil too – like maybe only 1-2 mil!
– Oh now don’t be a piker! I’m sure you could get $4 million – in fact, I’ll prepare an offishul estimate on offishul(-looking) Environment Canada stationery, for a reasonable-but-small percentage of the net of course. If we ask for eight mil, we should get at least half of it.
And need I remind you, you’ve got a working TD-9 – and it burns gas AND diesel. Be a shame, wouldn’t it, all the eeevil CO2ies you’d spew if you had to fire-up that, to help you haul-away the old freezer? Not saying you would, but a mention of its possibility might reinforce our business case…
Canadians love to throw the bums out when they are feeling angsty. The problem is another set of bums and grifters come in and the cycle repeats.
Then vote for something other than change. – Garth
To be fair, Scheer does seem to spend more time that seemly in the company of actual white supremacists like Faith Goldy.
It’s not a good look and some Canadians actually do care about these kinds of things and pay attention.
That said, I still wouldn’t call Scheer a white supremacist. But he spends too much time in their company in my view.
Kenney seems to actually have them in his party and doesn’t kick them out. Which also isn’t a good look.
I have taken note and will vote accordingly.
When was Scheer in the company of Faith Goldy other than at the Alberta truckers convoy event, which he did not control? Citation? – Garth
#148 NotLegalAdvice on 04.25.19 at 12:03 pm
Aren’t like 40% of people up for mortgage renewal this year?
Will the BOC just withhold the key interest rate until this year is over and all these 40%ers have locked in for, yet again, another 5 years of low rates?
Once that’s done, they’ll begin increasing again…..right?
Then down comes the market! Maybe this is just a conspiracy theory lol
———————————————————
No. That stat came from a BoC report that was misinterpreted by a CIBC analyst.
The stat was length of time until the rate reset on a mortgage and about 50% were less than a year. But included in that was all the variable rate mortgages that were lumped in as under 1 year because they don’t have an actual reset date.
So while half the population was exposed to increasing rates, it wasn’t some hugely out of the ordinary number, and half of the people who were exposed had chosen to be.
#143 PastThePeak on 04.25.19 at 11:18 am
@115 Tater on 04.25.19 at 7:56 am
Thanks for the detailed reply. I do agree that making adjustments for new goods, and improvements in goods, and some substitutions is required.
What matters is how it is done. Are substations and adjustments reasonable, or pure ivory tower thinking that do not translate to the real world? Since the details are not shared publicly, it is hard to analyze.
Essentials are not the only story, absolutely, but where is the majority of household money spent on average? Shelter, food, utilities, transportation, and entertainment. These have been increasing by greater than 5% (some cases more than 10%) per year over the last number of years (on average), and yet the inflation rate calculated is sub 2%?
Hard to square that. I buy a TV every 7 years maybe, about same for computer. Smartphone every 3 years. Only spend maybe $1-2K per year on clothes. So for the items which go down in price (smartphones stay the same mostly, as do computers now), the amount spent is small compared with the items which increase in price.
And as @124 not 1st on 04.25.19 at 9:14 am mentions, saying that standard of living is not dropping is ignoring the increase in household debt to finance it.
Anyways, not worth arguing more, but one can’t just take a black box figure from a gov’t department and say “that is all there is to know folks”.
—————————————————————-
A black box? Here’s a link to a 90 page PDF that has the vast majority details on how Canadian CPI is calculated. You can disagree with the methodology, but it certainly isn’t a secret.
https://www150.statcan.gc.ca/n1/en/pub/62-553-x/62-553-x2014001-eng.pdf?st=gXN6nA1I
Best thing for me is probably to stop buying books and reading them… But in a meantime questions for blog bitches and dogs, book Private truths, and public lies by Timur Kuram, is it any good?
#151 Y. Knott on 04.25.19 at 12:43 pm
And need I remind you, you’ve got a working TD-9 – and it burns gas AND diesel. Be a shame, wouldn’t it, all the eeevil CO2ies you’d spew if you had to fire-up that, to help you haul-away the old freezer? Not saying you would, but a mention of its possibility might reinforce our business case…
___
Man, one vid of that TD-9 switching over to diesel on a cold morning would have half the Liberal caucus falling over with heart attacks. “Rolling coal” would be an understatement. Come to think of it – it’s been a while since I shined up the tracks a bit…
Just send me the money Catherine, you don’t want me to do this…
BT scandal: prosecutors allege senior managers involved
Italian prosecutors have accused senior finance executives at BT of being more involved in its £530m accounting scandal than previously thought
https://economia.icaew.com/news/april-2019/bt-scandal-prosecutors-allege-senior-managers-involved
======
good bank bad bank didn’t roubini say before the last crash we’re all swedes now?
Sweden’s political parties have expressed outrage amid claims that the country’s oldest bank, Swedbank AB, may have allowed suspicious transactions in excess of $100 billion at its Baltic operations in recent years. The bank is now under investigation in several jurisdictions by various authorities
They also want it to look at whether bank secrecy laws need to be changed to allow sharing of information and also investigate why the FSA was slow to act on the potential money laundering at Swedbank.
https://www.bloomberg.com/news/articles/2019-04-23/swedish-lawmakers-call-on-government-to-review-money-laundering
#156 NoName
When did reference to “blog bitches” become acceptable? I can recall no previous example by our esteemed host. “Blog dog” is already gender neutral; use of the term “bitch” seems to aim solely to denigrate or infuriate. There is already a frequent whiff of misogyny emanating from the comment section; perhaps anonymity allows those with no self-esteem to fancy themselves swashbuckling soldiers in Peterson’s anti-PC crusade.
#155 Tater on 04.25.19 at 1:31 pm
“A black box? Here’s a link to a 90 page PDF that has the vast majority details on how Canadian CPI is calculated. You can disagree with the methodology, but it certainly isn’t a secret.”
https://www150.statcan.gc.ca/n1/en/pub/62-553-x/62-553-x2014001-eng.pdf?st=gXN6nA1I
Tater, you can’t expect a ‘deplorable’ to read a 90-page document. Here’s a much shorter (14-page) document for their perusal.
https://www150.statcan.gc.ca/n1/en/pub/62-557-x/62-557-x1996001-eng.pdf?st=1GndVSS6
more young people take to the streets in algeria
Algeria arrested five billionaires on Monday, two weeks after the country’s president stepped down after tens of thousands of people protested for weeks against his corrupt reign.
768px-Algeria Protests 2019 2ndweek2019 Algeria Protests (Wikipedia)The five men were arrested in an anti-corruption drive that was promised by the chief of Algeria’s army just hours before President Abdelaziz Bouteflika, who had been the leader of Algeria since 1999, stepped down.
General Gaid Salah broke his long-term alliance with President Bouteflika in announcing his intentions, saying that he would listen to the voice of the people.
“The army will meet the people’s demands,” he said, adding that he would oust “the gang that had seized control of” Algeria…”
However, General Salah has been described as “perhaps the most corrupt official in the military apparatus” in leaked cables from US diplomats.
The billionaires that were arrested Monday include Issad Rebrab, one of the richest men in Africa, as well as a group of brothers in the circle of Algeria’s former president, Abdelaziz Bouteflika.
Rebrab was named in the Panama Papers as one of the oldest clients of the law firm Mossack Fonseca. He amassed his wealth through monopolies on the import of consumer goods like concrete, sugar and oil.
Meanwhile, an Algerian court has also summoned former Prime Minister Ahmed Ouyahia and current Finance Minister Mohamed Loukal for misuse of public funds.
But Salah’s words, and the president’s resignation, did not satisfy Algeria’s demonstrators, mostly young people hoping for change. Protests continued into Friday, demanding the resignation of the president’s temporary replacement.
General Salah said that the military was considering all options for how to resolve the situation, but added “Time is running out.”
https://www.lemonde.fr/afrique/article/2016/07/26/algerie-les-dessous-de-l-ascension-fulgurante-de-l-industriel-issad-rebrab_4974802_3212.html
#154 Tater on 04.25.19 at 1:22 pm
#148 NotLegalAdvice on 04.25.19 at 12:03 pm
Good point on the variable, though like you said, that’s a bit of a trick answer given by definition everyone on variable is subject to a rate adjustment… Even so, what’s the current usual variable rate change grace period these days? ~3 months? Any data on ratio of fixed to variable? (too lazy to look up)
Why is comrade Horgan so upset? Carbon tax is working. Changing behaviours via pain. We should be celebrating. Raise it to $3.
https://theprovince.com/opinion/columnists/vaughn-palmer-horgan-points-fingers-but-not-at-himself-for-high-gas-prices/wcm/2d1baa24-0d8c-4216-8839-e1391a1e25b2
#160 Gravy Train on 04.25.19 at 2:25 pm
#155 Tater on 04.25.19 at 1:31 pm
“A black box? Here’s a link to a 90 page PDF that has the vast majority details on how Canadian CPI is calculated. You can disagree with the methodology, but it certainly isn’t a secret.”
https://www150.statcan.gc.ca/n1/en/pub/62-553-x/62-553-x2014001-eng.pdf?st=gXN6nA1I
Tater, you can’t expect a ‘deplorable’ to read a 90-page document. Here’s a much shorter (14-page) document for their perusal.
https://www150.statcan.gc.ca/n1/en/pub/62-557-x/62-557-x1996001-eng.pdf?st=1GndVSS6
+++++++++++++++++++++++++++++++++
So you know absolutely nothing about me, but I am a ‘deplorable’ to you?
Says something about you, that’s for sure.
Would love to meet you in person some day. Maybe Garth can facilitate…
Elon Musk on Tesla being a publicly traded company:
“So, it’s a bit of a distraction at times, but I’m not sure what to do about it.”
On building cars in a Tent at Tesla’s Fremont California factory:
“Well, first of all, obviously, on account of tents, like I mean, real like hardcore tents, so I am not like Cub Scout tents, which are fine.”
#125 Y. Knott on 04.25.19 at 9:20 am
#147 IHCTD9 on 04.25.19 at 11:42 am
#151 Y. Knott on 04.25.19 at 12:43 pm
#157 IHCTD9 on 04.25.19 at 1:59 pm
Neither of you two clever yahoos have children or grandchildren, do you? Oh—and to you, Y. Knott—there’s no need to hyphenate verbs to adverbs; it’s just not done in civil society.
#162 Remembrancer on 04.25.19 at 2:40 pm
#154 Tater on 04.25.19 at 1:22 pm
#148 NotLegalAdvice on 04.25.19 at 12:03 pm
Good point on the variable, though like you said, that’s a bit of a trick answer given by definition everyone on variable is subject to a rate adjustment… Even so, what’s the current usual variable rate change grace period these days? ~3 months? Any data on ratio of fixed to variable? (too lazy to look up)
—————————————————————
70/25/5 fixed/variable/hybrid I think is the rough answer.
#159 Sold Out on 04.25.19 at 2:18 pm
#156 NoName
When did reference to “blog bitches” become acceptable? I can recall no previous example by our esteemed host. “Blog dog” is already gender neutral; use of the term “bitch” seems to aim solely to denigrate or infuriate. There is already a frequent whiff of misogyny emanating from the comment section; perhaps anonymity allows those with no self-esteem to fancy themselves swashbuckling soldiers in Peterson’s anti-PC crusade.
—
I wish that i have your problem so i can waste time on such a trivial things like that…
But i you are offended by it, i sincerely APOLOGIZE!
But answer me this, did you listen to music that teenagers like lately?
#164 PastThePeak on 04.25.19 at 2:52 pm
“So you know absolutely nothing about me, but I am a ‘deplorable’ to you? Says something about you, that’s for sure.” When you’re right, you’re right! I’ve become pretty jaded lately, and haven’t contributed constructively to the discussions. I’ll just keep quiet from now on unless I can make a positive contribution. I’ll even leave Smokey alone, although that’s a tall order! :P
#164 PastThePeak on 04.25.19 at 2:52 pm
—-
Don’t sweat it. Some people are irrevocably wed to the govt narrative no matter what it is. They are right there ready to gobble up whatever propaganda is fed to them because critical thinking eludes them. Make their day simpler. Same people got us a useless carbon tax.
Inflation as in the cost of living day to day including all expenses is not 2% and it is not decreasing because of Netflix. People are holding their own against this tide by cheap borrowing. Period.
#153 The Wet One on 04.25.19 at 1:21 pm
To be fair, Scheer does seem to spend more time that seemly in the company of actual white supremacists like Faith Goldy.
It’s not a good look and some Canadians actually do care about these kinds of things and pay attention.
That said, I still wouldn’t call Scheer a white supremacist. But he spends too much time in their company in my view.
Kenney seems to actually have them in his party and doesn’t kick them out. Which also isn’t a good look.
I have taken note and will vote accordingly.
When was Scheer in the company of Faith Goldy other than at the Alberta truckers convoy event, which he did not control? Citation? – Garth
………………………………………………………………….
Yes the liberals will cut and paste anything to destroy Scheers credibility. Goldy is certifiably nuts and definitely a white supremacist. Just because I once walked into a building in Germany where Adolph Hitler once walked into doesn’t mean I’m a Nazi.
#165 Ace Goodheart on 04.25.19 at 3:05 pm
Elon Musk on Tesla being a publicly traded company:
“So, it’s a bit of a distraction at times, but I’m not sure what to do about it.”
————————————————————-
He shouldn’t have to worry about it for much longer.
#168 NoName on 04.25.19 at 3:40 pm
But answer me this, did you listen to music that teenagers like lately?
__
I Googled it – but the security manager blocked me from seeing it!
#159 Sold Out on 04.25.19 at 2:18 pm
#156 NoName
“Blog dog” is already gender neutral;
*********************************
Among reputable canine breeders, “dog” is the term used for the male dog. It isn’t gender neutral. Having said that, I can understand where you are coming from.