Get a grip


 .

Yesterday’s riveting blog was called ‘Fear of FOMO.’ Yup, fear of a fear. In this case it’s how policymakers (like the dudes at the Bank of Canada) are afraid buyers scared of rising real estate will panic-buy if they drop rates. But drop they must. Because of other fears.

In fact having one’s drawers in a twist seems perfectly normal lately. The headlines, after all, are relentless. New tariffs just escalated the China-US trade war. Boris just lost his majority in the UK Parliament and an election and/or hard Brexit lie ahead. The Hong Kong rebellion grows darker, temping Beijing to wave its iron fist. Brazil, Argentine, Venezuela – yikes, all a messy mixture of crazy nationalists and crazier socialists. And Dorian has the climate change gang warning extreme (and very expensive) weather is in our future.

So, fear. Stock markets have see-sawed hundreds of points a session far more often than usual. Bond yields have plopped and bond prices soared. Trillions in global government debt is paying nothing. Oil has dropped and gold jumped. Media’s been pumping the ‘inverted yield curve’ as if it were ebola. What an exaggeration. It’s created a fear bubble.

“All bubbles begin with a good reason,” a report this week from Pennock Idea Hub says, “they just eventually get out of hand. From a global perspective, the rush toward safety began with China’s deleveraging program, whose deflationary effects were exacerbated by the Sino-American trade war, and the effects washed upon the shores of other countries.”

Without a doubt, Trump’s one-man trade war has gone global, and rattled everybody. He will long be remembered as Tariff Man. But (a) the guy’s not an idiot and the odds of him trying to fix the problem are high and (b) it takes a lot more than this to bring in a US recession and create a bear market for investors. (The definition of a bear market, by the way, is a 20% decline that lasts at least a few months, with the average being 14.)

No recession? Then no bear market. And no recession’s on the horizon. US consumer confidence and spending are at high levels. Corporate profits are stable after a period of huge growth. Unemployment’s at a 50-year low. The Fed has already started buying insurance against a downturn, with a rate cut. More to come. There’s a US presidential election in a year, and you can be certain of (a) cheaper money, (b) more fiscal stimulus – maybe a tax cut and (c) endless market-pumping Tweets.

“Our analysis indicates that the Fever of Fear has not broken,” says Pennock, “it pays to be defensive for the next few months. However, defensive sectors are already the leadership, and their prices have already been bid up, as evidenced by the outperformance of the low volatility factor.” And this is why a low-vol, equity-based ETF is great to have in your portfolio, plus that bond exposure I’ve spent the last eight years encouraging you to maintain. These are the times when investors with balanced and diversified portfolios – 40% safe stuff, 60% growth assets, including REITs and Canada/US/offshore exposure – can ignore the Cat 5 howls outside.

Remember – never sell into a storm. Never make investment decisions based on media headlines, since you’ll be the last to know. Don’t sell losers and buy winners – it’s the other way ’round. Forget trying to time Mr. Market. You can’t. That’s exactly why establishing the correct portfolio weightings, and sticking to them, will dampen losses and collect gains.

If you get too emotional, watch The View. That should do it.

   

Sadly, the following message must be delivered.

This blog is about money, the economy, canines, investing, real estate, chiseled abs and occasionally brake repairs and shorter people. It’s not here so you have yet another place on the Internet to dis the Chinese and Asians, tell us how brown families are making houses unaffordable, trash Muslims or opine for those great old days before we had ‘mass immigration.’

It’s a lamentable that populist, nationalist politicians like Max Bernier or you-know-who in the White House can be openly xenophobic and intolerant. They have lowered not only our threshold for dignity and respect but enabled all the economic and social losers among us. Bigotry and prejudice are usually born out of resentment and missed opportunity, which leads to hate and the heaping of blame upon outsiders. History is littered with ‘strong’ leaders who fired up the masses by making others into scapegoats. We are closer to that path than I’ve ever seen in my lifetime.

So, no, I can’t change the course of events. Or make you peaceful, calm and confident. But I can, and will, keep this blog out of the swill. The Delete cops are standing by. The water cannons are loaded. The end is nigh.

 

152 comments ↓

#1 James on 09.03.19 at 4:31 pm

So you have just described Donald Trumps bygone review as seen from 25 years from now. People will say this is how the world behaved in the old days. If the world survives that is?
https://www.youtube.com/watch?v=XvuM3DjvYf0

#2 Andrewski on 09.03.19 at 4:32 pm

Unfortunately sensible discourse seems to have been forgotten by too many, when facts are challenged with such vitriolic opinion:

https://sites.google.com/a/proofreadoutloud.com/www/four-modes-of-discourse

Keep up the noble fight Garth!

#3 Flop... on 09.03.19 at 4:41 pm

Is it safe for the immigrants to come out again on the blog?

Mind you, in the meantime, learning how to knit on The Martha Stewart blog was more enjoyable than I thought it was going to be…

M45BC

#4 SmarterSquirrel on 09.03.19 at 4:43 pm

I’ve never understood the fear of ‘other’ but then I’ve never seen people as ‘other’… sure I see differences in culture and appearance… but I haven’t met a single person I see as ‘other’ yet. Maybe that’s where we start… everybody is pretty much the same, trying to survive, trying to love and be loved, trying to succeed, trying to enjoy life, to deal with struggle and sorrow.

And if there are characteristics you don’t like about someone, well those are the characteristics of that individual, they aren’t attributed to some grouping of people. And perhaps some understanding of what that person is going through might help as well.

Perhaps more people need to watch this… and heed the quote… “To me, it underscores our responsibility to deal more kindly with one another…”
https://www.youtube.com/watch?v=GO5FwsblpT8

#5 Dave on 09.03.19 at 4:51 pm

On October 1 the Communist Party of China will celebrate its 70th anniversary. Big celebrations to showcase to the world the power of China.
Hence all this protesting and shutting down airports will come to a complete end. Hong Kong will bow to China or face extreme pain. Lots of caios to come

#6 Linda on 09.03.19 at 5:04 pm

Yay Garth for keeping the blog clean:) Now on to the fear factor. Seems like people want to have the drama. I don’t know the science, but does pushing the big red button give a fear induced endorphin feedback? Sure would explain a lot if so.

As for the current POTUS, have to say the cartoon character Duke said it best – ‘Never bet against a cornered rat’. My hope is that America will fire him, but sadly a lot of them still seem to think he is on their side. Don’t know what it will take for them to realize the only side he is on is his own. Or as the late George Carlin used to say ‘there’s a club & you ain’t in it’.

#7 Camille on 09.03.19 at 5:04 pm

Much ado about not selling. Has the selling started?

#8 leebow on 09.03.19 at 5:05 pm

It’s in our nature to overreact. This is why a programmatic approach to asset allocation is so successful.

One bias that is often overlooked is the narrative bias. Don’t we all love a good story about why and how events will unfold?

The issue with the gaudy White House resident is that he somehow makes even the most incredible interpretations appear reasonable. Trump is the Schroedinger president. His mind is always in a state of thought superposition.

#9 Graeme on 09.03.19 at 5:08 pm

Rocks baby, ROCKS!! :)

#10 marcus on 09.03.19 at 5:09 pm

“It’s not here so you have yet another place on the Internet to dis the Chinese and Asians.” The people … no. The communist Chinese govt that needs to be buried under a million tons of debris …… absolutely. You need to differentiate the two Garth. You do not support the Communist Chinese regime ……. do you? Note: I’m married to an Asian so no virtue points in calling me a racist.

#11 Smoking Man on 09.03.19 at 5:16 pm

If a GDP of 3.7 was real. No chance in China the BOC would be dropping rates.

Stats Canada has become political…

#12 SunShowers on 09.03.19 at 5:22 pm

Whew, Garth.

You’re one of the good ones!

#13 marcus on 09.03.19 at 5:25 pm

Sh%t is about to get real in the South China/west Philippine sea. On a clear day I can see far enough out and voila! Huge Chinese Coast Guard Cutters keeping the Filipino fishermen close to shore. If they go out where the fish are the Chinese water cannon their small traditional fishing boats. If They evade the Chinese for a while and then get caught the Chinese Coast Guard and/or maritime militia boats confiscate the fish. this is occurring within 10 miles of the coast of the Philippines. Time is short ….. China’s wings need to be clipped and if it is Trump that does it …… so be it. Debating about markets and stocks and Forex exchanges pales in comparison to the hundreds of millions killed by this regime over the decades.

#14 Unhinged Trader on 09.03.19 at 5:30 pm

I’m financially ruined.

#15 Kootenay Hippie on 09.03.19 at 5:36 pm

More moderation of the racists and bigots will be a good thing. This hippie loves everyone.

#16 Phylis on 09.03.19 at 5:40 pm

When changing your rotors, make sure you clean your hubs properly!

#17 Brian Ripley on 09.03.19 at 5:41 pm

For those living in Calgary and those who watch the Canadian Yield Curve:

http://www.chpc.biz/calgary-housing.html
Calgary average condo prices are now (Aug data) down 23.2% from the JUL 2016 peak

and

http://www.chpc.biz/yield-curve.html
The Bank of Canada 10yr less 2yr bond is now (Aug data) 20 beeps negative.

Last month it was 6 bps negative and in July 2007 it only reached 7 beeps negative

10.5 years of ZIRP and NIRP
In my opinion, it’s way past the time for governments to concentrate on fiscal rather than monetary policy which is a lot harder than twiddling knobs in a central bank bunker.

Reform the tax system
Reform the electoral system
Redefine the Social Contract

Please.

#18 marcus on 09.03.19 at 5:43 pm

#5 Dave Yes as we speak Chinese military forces are disembarking by the hundreds off of ferry ships at the port of Hong Kong. A few days ago hundreds of MRAPS crossed the long bridge from the mainland into Hong Kong proper. President for life Xi cannot permit the protests to go on beyond the anniversary. Meanwhile the student protesters are using liquid nitrogen to solidify the tear gas canisters and negate their eye irritating effects. These 4.5 Million in number protesters realize that they have ZERO future under Chinese rule. It’s now or never. Sadly many in the Globalist west care not for these people. “Just keep the products moving!” is the cry from the West.

#19 BobC on 09.03.19 at 5:51 pm

My grandson is going to school in Tokyo. Even though he’s a male, Caucasian, and evil American he reports everybody is kind, respectful and helps him adjust. The world isn’t an evil place. We only hear about the evil people. We should all be like the Japanese.

#20 Out Of Work CEO, Will Travel on 09.03.19 at 5:51 pm

Walmart CEO Doug McMillan bans “open carry weapons” in stores in the states and bans some ammunition and handguns and some types of rifles. It surely is the tide turning in America when Walmart is riding the wave of the future of American social policy. Walmart is turning into a “class act” in some aspects of their business but their inventory leaves a lot to desire.

#21 GBiddy on 09.03.19 at 5:55 pm

Garth, you do an admirable job with your blog. Your financial advice shines, but you skirt into politics to espouse your views, and then threaten the steerage deplorables with censorship when they don’t share those views.

You’re running two blogs in one: a top notch financial blog that is an unmatched showcase of wisdom and wit, and a political blog that skews socially left.

Your blog, your call of course, but don’t overlook your audience and cater only to those who share your political opinions about Trump, Bernier etc. Otherwise, you’ll just end up with yet another echo chamber.

Instead, why not continue to encourage debate. The steerage section is a safe space. Next to no hate that I’ve seen (possibly due to excellent moderation), but plenty of opposing opinions.

That’s what keeps me coming back, for what it’s worth.

#22 The Totally Unbiased, Highly Intelligent, Rational Observer on 09.03.19 at 6:01 pm

“And Dorian has the climate change gang warning extreme (and very expensive) weather is in our future.”–GT

Not to worry. Dorian is just spinning in circles. Think about who really controls the weather. It is not the man-made-climate-thugs. They control only the political climate, with their political “science” of man-made-global-fear and wealth redistribution.

* * * * * * * * * * * *

Florida Governor Ron DeSantis (R) prayed in Israel that his state will not get hit by any hurricanes this year reported Fox News.

DeSantis revealed on Monday that he observed the Jewish tradition of placing a piece of paper with a written out prayer in between the cracks at the Western Wall in Jerusalem during his May visit to the Jewish state. The Western Wall was the retaining wall of the Temple Mount.

“Good Lord, spare us hurricanes this year,” the governor of the Storm Prone state said he wrote on the note.

* * * * * * * * * * * *

Of course, what Canadian Prime Minister Justin Trudeau’s bad behavior could bring to Canada is another matter entirely.

#23 Sail away on 09.03.19 at 6:01 pm

#8 leebow on 09.03.19 at 5:05 pm

One bias that is often overlooked is the narrative bias. Don’t we all love a good story about why and how events will unfold?

—————————————–

Haha, yep. If only being wrong time and again would stop them.

Steerage is always filled with predictions of DOOM! and ARMAGEDDON!

Funny how life continues to be so pleasant.

#24 Eaglebay on 09.03.19 at 6:09 pm

#8 leebow on 09.03.19 at 5:05 pm
“Trump is the Schroedinger president. His mind is always in a state of thought superposition.”

And entanglement.

#25 Kelly on 09.03.19 at 6:24 pm

You almost made it thru without yet another attack on POTUS.

I’d sure like to understand what you consider xenophobic.
How about a specific example for a change.

You are quite an interesting writer. Yet, I find some of your unreferenced dismissive assertions weakens your blog.

Just sayin.

#26 Phyto prof on 09.03.19 at 6:25 pm

Well I did sell a little bit today… Had to trim those bond and REIT ETFs that were out of balance! To those who haven’t yet received the memo: this balanced portfolio thing completely works.

#27 paul on 09.03.19 at 6:35 pm

20 Out Of Work CEO, Will Travel on 09.03.19 at 5:51 pm

Walmart CEO Doug McMillan bans “open carry weapons” in stores in the states and bans some ammunition and handguns and some types of rifles. It surely is the tide turning in America when Walmart is riding the wave of the future of American social policy. Walmart is turning into a “class act” in some aspects of their business but their inventory leaves a lot to desire.
—————————————————————–
So F’ing Walmart is setting U.S. policy perfect! Next thing you know Google,Twitter and Facebook will be setting the do’s and dont’s for free speech OH Wait.perfect

#28 A Very Stable Genius on 09.03.19 at 6:42 pm

Good thing that unlike the US our economy is a house of cards built on real estate. Time to celebrate?

#29 oh bouy on 09.03.19 at 6:46 pm

@#25 Kelly on 09.03.19 at 6:24 pm
You almost made it thru without yet another attack on POTUS.

I’d sure like to understand what you consider xenophobic.
How about a specific example for a change.

You are quite an interesting writer. Yet, I find some of your unreferenced dismissive assertions weakens your blog.

Just sayin.
_______________________________

are you being willfully ignorant kelly or are you just plain dense?

just sayin.

#30 Bob Dog on 09.03.19 at 6:58 pm

Since you mentioned migrants and Asia, I’d really like to know when Christie Clarks money laundering trial is going to begin.

My only regret is vastly underestimating the level of corruption and criminality within my own government. If I had realized how bad things were going to get, I would have bought a dozen condos 10 years ago and made a fortune selling the country for a quick buck. Now I’m stuck trying to get back into the USA where salaries have partly kept up with inflation.

#31 Tony on 09.03.19 at 7:03 pm

Re: #11 Smoking Man on 09.03.19 at 5:16 pm

This Friday’s jobs report both in America and Canada could change a lot of things in a hurry. Who knows what they’ll dream up for a figure in America and the October election is looming in Canada making a bad print less likely if Trudeau reads it before its made public this Friday.

#32 Tina Shane on 09.03.19 at 7:18 pm

I’m sorry Garth that most Canadians are economic losers. They are debt slaves and no recovery or real estate market can change that.

Social programs existing and new are not sustainable and are destructive. Socialism is a disease that if not taken down will eat us all like cancer. Garth, without saving and capital formation it will not work. Garth, you can’t spend, tax and borrow your way to prosperity. I can'[t believe it is over but it gets harder everyday to believe the impossible which is happening now everyday.

I hop you allow this post to go through because it is truer today than ever before.

#33 Hugh Jassel on 09.03.19 at 7:22 pm

DELETED

#34 Gable McWorth on 09.03.19 at 7:26 pm

Garth, Do you think Canadian oil can recover over the medium to long term? Prices are so low it’s hard to not invest in these companies that fuel this planet.

#35 Long-Time Lurker on 09.03.19 at 7:27 pm

Re: The comments section yesterday and today… and I thought I was weird for being interested in Martians?

#30 Flop… on 09.02.19 at 6:48 pm
#26 Long-Time Lurker on 09.02.19 at 6:35 pm
#3 Flop… on 09.02.19 at 4:33 pm

Worlds Biggest Exporters of Financial Services

6. Hong Kong, China: $23.73 B (4.93%)

>Martial law in Hong Kong is going to be a huge problem.

///////////

Hey Lurker, how you been?….

>Hi, Flop. I’m okay. (Physically, if not mentally.) I’m always keeping an eye open for more X-Files. Like this one: There’s a real-life Excalibur in Tuscany, Italy.

Ever heard of the Sword of Saint Galgano, Dolce Vita?

https://www.ancient-origins.net/artifacts-other-artifacts/legendary-sword-stone-san-galgano-002968

https://www.theguardian.com/world/2001/sep/16/rorycarroll.theobserver

#36 Sail away on 09.03.19 at 7:28 pm

#14 Unhinged Trader on 09.03.19 at 5:30 pm

I’m financially ruined.

———————————————–

You’ve posted this a couple of times at least.

How ruined are you? What happened? Share your tale of woe…

#37 Nonplused on 09.03.19 at 7:34 pm

“you-know-who in the White House can be openly xenophobic and intolerant”

Except that there isn’t much evidence that “you-know-who” is either xenophobic or intolerant. Most of it is based on fake news that is produced by taking quotes out of context. Or allowing AOC to declare that Trump is running concentration camps, when Obama built those facilities.

We must remember that we live in the “static age”. Most of what you see and read is highly toxic bullcrap that ferments with each new day. Fake news is literally everywhere. It has been since the invention of the printing press, but Twitter made it a lot worse. Now anyone can make up a completely bogus story that supports their political point of view and millions of gullible people will see it and believe it.

Trump is not xenophobic and intolerant, or at least it has not been proven. He is also not a Russian agent or a supporter of the KKK. Stories come out every day claiming that he is, but all alleged facts have so far been disproved. What Trump is simply, is an arm-chair quarterback that got in over his head and is now looking to make a “Hail-Mary” pass.

There is nothing “xenophobic and intolerant” about wanting to enforce immigration laws, laws that Trump did not invent by the way they are long standing. It is a matter of coincidence and geographics that most of the violators of the law happen to come from one country. But they are still law-breakers. By definition, criminals, just for crossing illegally. I can’t do that, and I am as white as the snow. I’ve been to the US many times, and I always had my paperwork in order and complied with all their laws. Why do I have to comply but if you come from the south you don’t?

And Trump is actually quite brilliant to focus on the illegal immigration issue. Who does illegal immigration hurt the most? Poor Americans looking for a job, any job, whatever race they be. The last thing a poor American who wants a job needs is 3 illegals competing for the same job under the table. The poor Americans understand this but the Democrats do not. That is why Trump and the Republicans will pull off the largest landslide ever seen in 2020. The Democrats shot themselves in the foot when they tried pandering to the small number of legal immigrants that have illegal relatives by blocking every measure aimed at enforcing existing laws. But they forgot that there are already a large number of legal US citizens who want those same jobs. Those people don’t normally vote, but they will this time.

I think this is why the Democrats have not come up with any reasonable candidates to oppose Trump in 2020. Anybody with any sense knows that this is going to be a disaster for anyone with a D- in front.

“Why don’t they go back and help fix the totally broken and crime infested places from which they came.” No xenophobia there… – Garth

#38 Jack Botack on 09.03.19 at 7:38 pm

To #36 Sail Away , about #14 Unhinged Trader probably bought alot of Canadian pot stocks with margin, debt, leverage. My friend took his $10,000 in student loan money and borrowed credit card money lost 60% of it from high interest rates and capital losses.

#39 the Jaguar on 09.03.19 at 7:42 pm

@ #63 BillyBob on 09.03.19 at 6:18 am
Thank you for referencing one of the greatest aviation books ever written by one of its best authors. Wish I’d gotten up to visit Gann before he died, he retired in my neck of the woods in the San Juans WA.

Yes. A wonderful read. My favourite was Captain Ross, though all the pilots were interesting. Kiem fascinating, too.
I thought of Gann and the ‘loading of the mail bags’ in those early days on a flight out of Toronto in January of this year. Early flight to Cuba and there had been a wicked snowstorm that more or less paralyzed Pearson Airport. Hour and a half in the cabin waiting for refueling, de-icing, etc., and near the end one of the flight crew came on and announced cheerfully that the pilot of our plane was below wing helping to throw bags on to the plane. Guess half the airport staff must have called in sick on a day like that one. “Ross and Gann would have been proud of you”, I thought to myself. (Westjet).

#40 tccontrarian on 09.03.19 at 7:45 pm

“This blog is about money, the economy, canines, investing, real estate…”

If it is so, why are some of my posts of unpopular (contrarian) investing ideas, deleted or even completely snuffed out?

Try being nice. – Garth

#41 Treasure Island CEO - 30 mil offshore on 09.03.19 at 7:45 pm

Garth, you have gone all Janet Yellen on us.

“We will never see another recession in our lifetime”

“The economy looks amazing”

Well in taking your advice (“never sell into a storm”) selling right now would be the ideal time since everything is so awesome out there. You can sell off all the winners.

I would also like to see a post on here about the tax advantages of having your money offshore in the same building as Trudeau and Morneau.

The best way to stay wealthy is to not pay any tax ever, legally. Hello Cayman.

#42 ts on 09.03.19 at 7:49 pm

DELETED

#43 Skin deep on 09.03.19 at 7:50 pm

You would think with the latest scientific data, including NASA data, that revelations that skin colour has nothing to do with race would chill both ends of the political spectrum. Skin colour is due to UVB radiation. With modern living out of the sun almost everyone will have light skin in the future. It is not who you are, and no more relevant than ear shape or toe size. The future will laugh at us for sure.

#44 Christy Clark on 09.03.19 at 7:50 pm

No crime, no trial.

I have Clinton status now.

And money than you, sucker.

Now, pay your overprice property taxes.

CC

#45 TRUMP2020 on 09.03.19 at 7:55 pm

BS GARTH

You CAN “change the course of events”.

Look at how many followers you have!!!

This is just the beginning, just imagine what we can accomplish together.

HAIL GARTH.

#46 crowdedelevatorfartz on 09.03.19 at 7:59 pm

Stop the presses! Stop the presses!

A few days ago I commented on Michael Crichtons dreadful book “State of Fear” about how govts., Big biz and media thrive….nay….. encourage people ….To be afraid.
And its working.

Am I psychic or is Garth plagiarizing my brilliant ideas?

#47 Weatherman on 09.03.19 at 8:01 pm

Dorian is well within but yes at the higher end of normal for hurricanes. Stop blowvating. It’s a normal storm and not the end of the world. Sure, it wrecked the Bahamas, but there might be a reason nobody lived there before the Europeans arrived. In the same way it is not smart to live on an active volcano, sooner or later it will get you, it is also not smart to live in hurricane alley.

Notice how all the major Indian wars were fought against the Plains Indians and not the “Florida Indians”? The natives knew better than to live there. Crocodiles, swamp gas, mosquitoes, heat, and hurricanes. This is just not a good spot to pitch a tee-pee. Florida did not become a spot until the invention of air-conditioning. For good reason.

#48 Dolce Vita on 09.03.19 at 8:03 pm

1. Progressive Left and the MSM they control in N. America:

“…not so much genuine concern for social justice as the preening display of cultural superiority.”

Hence, the backlash from people, the reason for the Bernier’s and Trump’s – people fed up at being told what they can and cannot say.

Again, a very good read written by a Mea Culpa Progressive Harvard Lefty Prof:

“Americans Strongly Dislike PC Culture”

https://www.theatlantic.com/ideas/archive/2018/10/large-majorities-dislike-political-correctness/572581/

—————————–

2. Globalists seek to make the World their economic oyster and do not care about the cultural and social effects that it has on Nation States.

SIMPLE EYEBALL TEST FOR EVERYONE HERE.

Guess what year the original NAFTA agreement came into being from the chart below?

Click the MAX button and on the button to its right, select Column for the chart type.

https://tradingeconomics.com/canada/gdp-growth

(1994 and WTO’s Doha started in 2001)

AND, GUESS WHICH YEARS we had “Nationalism” and “Protectionism” in Canada from the above chart?

-Canada is a nation of hewers and drawers. It’s resources are needed by the World. It is a 1st World country. There is very little that Canada could not make on its own.

-Canada used to make foreign firms build plants in Canada and create jobs if they wanted to sell into Canada or be tarrifed heavily.

Recall FIRA under Pierre Trudeau. It created Goods Sector jobs in Canada.

—————————–

…if that’s Nationalism, Protectionism…I’m all for it.

Bigotry, Xenophobia, etc., …not so much.

#49 crowdedelevatorfartz on 09.03.19 at 8:03 pm

@#44 Christy Clark
“Now, pay your overprice property taxes.”
+++++

Only after I pay my BC Govt Cash Cow Car Insurance on a monthly instalment plan.

But wait.

The NDP plan…… to the rescue…..

https://www.citynews1130.com/2019/09/02/bc-ombusdperson-poised-to-field-complaints-as-new-icbc-rates-roll-out/

#50 Flop... on 09.03.19 at 8:03 pm

#35 Long-Time Lurker on 09.03.19 at 7:27 pm
Re: The comments section yesterday and today… and I thought I was weird for being interested in Martians?

>Hi, Flop. I’m okay. (Physically, if not mentally.) I’m always keeping an eye open for more X-Files.

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

Hey Lurker, did you see this Space Hotel yesterday?

This can be my contribution to the conversation.

Ive never seen an alien, but some people on here are out of this world…

M45BC

https://www.news.com.au/technology/innovation/worlds-first-space-hotel-revealed-for-400-astrotourists/news-story/d8315e64f98f91252956d3f66d6bb521

#51 marcus on 09.03.19 at 8:04 pm

#32 Tina Shane

“You can vote your way into Socialism but you will have to shoot your way out.” – Unknown

#52 Sail away on 09.03.19 at 8:06 pm

“Why don’t they go back and help fix the totally broken and crime infested places from which they came.” No xenophobia there… – Garth

———————————-

…”then come back and show us how it is done.”

You’re right. Context

#53 leebow on 09.03.19 at 8:09 pm

#34 Gable McWorth

TSX is fairly heavy on energy. If you account for that exposure, you will likely see that you already have enough.

But if you have to, you can try investing in a broader energy index. Long time ago I was following a personal consumption weighting for energy and some other commodities, i.e. buy as much as you consume. That way you hedge against your personal expenses. If you find that appealing.

These days oil specifically can be an easy way to lose money – between the Middle East situation, availability of LNG, new mining technology, trade wars it could be extremely volatile.

#54 yorkville renter on 09.03.19 at 8:12 pm

“Why don’t they go back and help fix the totally broken and crime infested places from which they came.” No xenophobia there… – Garth

That’s a good one… there are MANY MANY more (see here), but I like to keep it old school and remind people that Trump was sued by DoJ for not renting to black families as a policy.

#55 Nonplused on 09.03.19 at 8:12 pm

“Why don’t they go back and help fix the totally broken and crime infested places from which they came.” No xenophobia there… – Garth

“You hypocrite! First, remove the beam out of your own eye, and then you can see clearly to remove the speck out of your brother’s eye.” – Matthew 7.5 – Christ

That speaks volumes. – Garth

#56 Cici on 09.03.19 at 8:21 pm

Thanks for that, Garth!

The dumbest thing about racism to me is that « race » is an artificial construct. Last I heard, we all share common genes and are all part of the « human race. »

That said, many politicians share a big part of the blame when they let in more newcomers than there are jobs or doctors, and give them free passes ahead of longtime taxpayers in exchange for votes when they’ve lost the popular consensus. Although in such cases, all criticism and contempt should be directed towards the politicians, not the newcomers.

Never underestimate the role of certain politicians and leaders in cultivating fear and contempt of the « other » for short-term profits and other gains.

#57 Danny Boy on 09.03.19 at 8:27 pm

Marcus #51, if people don’t starve first under socialism.

#58 GBiddy on 09.03.19 at 8:31 pm

#52 Sail away

Thank you, Sail. Why does everyone trying to make an anti-Trump belief or bias stick as fact omit the last part of that quote?

I’ll never understand why so many people think so many other people are so weak minded.

The additional words change nothing. – Garth

#59 Nonplused on 09.03.19 at 8:33 pm

#54 yorkville renter

What was the result of the lawsuit? Did Trump actually not rent to black people or was it a matter of credit and history? No landlord wants a deadbeat renter who doesn’t pay and it doesn’t matter the race. But you can make it about race if you don’t get accepted. My guess is Trump rents to anyone who can pay, but not to anyone that can’t. That’s how I would do it too. But the race issue makes it all fussy. Now I am supposed to rent to people who won’t or can’t pay or I am a racist? The racist card cannot be played until all other cards have been played. The money card is the highest value card in the deck and no landlord will turn away a good tenant with good money regardless of race. They need the money more than they need to discriminate.

#60 Michelle Moses on 09.03.19 at 8:36 pm

Racism will exist as long as sexism exists. It’s an ongoing battle that is worth the fight. Thank you for post Garth.

#61 Nonplused on 09.03.19 at 8:46 pm

DELETED

#62 Canuck on 09.03.19 at 9:00 pm

DELETED

#63 Remembrancer on 09.03.19 at 9:00 pm

#47 Weatherman on 09.03.19 at 8:01 pm
Notice how all the major Indian wars were fought against the Plains Indians and not the “Florida Indians”? The natives knew better than to live there.
———————————————-
Check out “Seminole Wars”… happened way before the invention of electric AC in 1900-ish…

#64 yorkville renter on 09.03.19 at 9:02 pm

#59 – if you actually read an article on it, instead of guessing, you’ll see that Trump management would tell black families there is no vacancy and tell white families there is…

I encourage you to read items that have been submitted to court over the past 5 decades

#65 Andrewski on 09.03.19 at 9:02 pm

Re: #52 Sail Away

Trump followed with: “…it is done. These places need your help badly, you can’t leave fast enough. I’m sure that Nancy Pelosi would be very happy to quickly work out free travel arrangements!”

Ball’s in your court Sail Away.

#66 Flop... on 09.03.19 at 9:15 pm

So we’re discussing race, religion and politics?

What could go wrong…

M45BC

#67 crowdedelevatorfartz on 09.03.19 at 9:16 pm

@Billy Bob and The Jaguar

Thanks for the reference to “Fate is the Hunter” by Gann.
I just ordered in on Amazon
Looks good.

#68 Yuus bin Haad on 09.03.19 at 9:25 pm

Looks like as of today this blog is also about cute little kitty cats (the tolerant, loving dog was a given)

#69 Moses71 on 09.03.19 at 9:26 pm

Finally a cat pic on your blog!!
And I moved to Calgary from Toronto 9 years ago and the 1st thing I missed was the cultural diversity I.e. visible “minorities”. Just saying..

#70 Fofomo on 09.03.19 at 9:26 pm

“and the odds of him trying to fix the problem are high”

Well, duh, they are 100%. As to the odds he will succeed, that is a different matter.

#71 engineer on 09.03.19 at 9:27 pm

“We are closer to that path than I’ve ever seen in my lifetime.”

Relax, you don’t move the Overton Window from the middle. The extremists on either side are their own worst enemies and aren’t a real threat. It’s dirty work though, no lie.

#72 Sail Away on 09.03.19 at 9:30 pm

#38 Jack Botack on 09.03.19 at 7:38 pm

To #36 Sail Away , about #14 Unhinged Trader probably bought alot of Canadian pot stocks with margin, debt, leverage. My friend took his $10,000 in student loan money and borrowed credit card money lost 60% of it from high interest rates and capital losses.

———————————–

No offense, Jack, but that’s just random speculation based on your own paradigm- or in other words, the sort of thing that gets a person in trouble trading.

Come on Unhinged- out with it.

#73 Sail Away on 09.03.19 at 9:34 pm

#65 Andrewski on 09.03.19 at 9:02 pm
Re: #52 Sail Away

Trump followed with: “…it is done. These places need your help badly, you can’t leave fast enough. I’m sure that Nancy Pelosi would be very happy to quickly work out free travel arrangements!”

Ball’s in your court Sail Away.

—————————-

Thank you A, correct and complete data is always the first step.

#74 Sail Away on 09.03.19 at 9:36 pm

One question, though: is bias against Trump also discrimination, or is it not? Why or why not?

#75 n1tro on 09.03.19 at 9:37 pm

#60 Michelle Moses on 09.03.19 at 8:36 pm
Racism will exist as long as sexism exists.
——–
Wah?!

#76 Flop... on 09.03.19 at 9:39 pm

I’ll do a post about unintended consequences to try and turn the page.

When I was in Primary School, back in the early 80’s you could buy a lot of stuff for 50 cents.

Our small change currency at the time consisted of 50cent coins, 20 cent coins, 10 cent coins, 5 cent coins and the now obsolete 2 and 1 cent coins.

Kid of irrelevant, but we had a different system to you guys here.

Anyway, for some reason, never fully explained to us kids, was when you went to the school kiosk and made a purchase they would not give out small coins, that being five’s, two’s and ones.

Instead they installed the value of two cents as a value of an apple.

See where this is going?

No?

O.k, I’ll keep going.

If you made a purchase and were owed less than ten cents, you were paid out in apples.

Genius, that’s a great way to get the kids to eat more fruit.

Wrong!

Kids will only eat so many apples before throwing one at a kid they don’t like becomes a better option.

I don’t know how long the system ran for.

I do know it ended when a kid got blinded in one eye…

M45BC

#77 akashic record on 09.03.19 at 9:39 pm

“Why don’t they go back and help fix the totally broken and crime infested places from which they came.” No xenophobia there… – Garth

“DELETED” is a much cuter, eh.

#78 ImGonnaBeSick on 09.03.19 at 9:44 pm

#4 SmarterSquirrel on 09.03.19 at 4:43 pm
I’ve never understood the fear of ‘other’ but then I’ve never seen people as ‘other’… sure I see differences in culture and appearance… but I haven’t met a single person I see as ‘other’ yet. Maybe that’s where we start… everybody is pretty much the same, trying to survive, trying to love and be loved, trying to succeed, trying to enjoy life, to deal with struggle and sorrow.
————-

I don’t know squirrel, when I see you out cutting your lawn in you sandals and socks pulled up to your knees, I would consider you “other”…

#79 Canuck on 09.03.19 at 9:47 pm

DELETED

#80 Dolce Vita on 09.03.19 at 9:53 pm

One last salvo about Globalism, NAFTA, WTO, Protectionism, Nationalism, et. al.

Canada went from a Protectionist, Nationalist, Tariff, FIRA, Hewer and Drawer GOODS based economy (up to about 1990) to a “Modern Day” SERVICES based economy.

SO, how’d that all work out for AVERAGE WAGES in the pockets of Canadians?

You know, the WEALTH OF A NATION.

You be the judge*:

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

There you go No Tariffs, Open Borders, Globalists, enjoy your handiwork. Luckily, the TOP 2 sectors are still Goods, Hewing & Drawing because that’s where the money is.

*By the way, Public Admin and Educational Services are Gov’s and if you ask me they are way, way OUT OF WHACK in the average wage they receive, should be lower.

—————————–

Buonanotte, Ciao d’Italia & ‘Outta Here

#81 PastThePeak on 09.03.19 at 10:20 pm

Sell into a storm?

The S&P500 is only down 4% from its all time high set less than 6 weeks ago!

#82 Al on 09.03.19 at 10:21 pm

“. But (a) the guy’s not an idiot and the odds of him trying to fix the problem are high ”

I hope you’re playing to the crowd..

#83 AlbertaGuy in AB on 09.03.19 at 10:23 pm

#67

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

#84 Dolce Vita on 09.03.19 at 10:33 pm

Apologies Garth, one last post before the real ‘Outta Here.

I have been watching the news as of late out of BC and their Gov’s study on WHY GASOLINE PRICES ARE SO HIGH. They talk about arcane reasons which are lost on the average person.

It’s actually quite simple.

No new pipeline or greatly delayed = LOST REVENUE TO AB.

How does AB get some of that lost revenue back?

GOOSE gasoline prices in the here and now since most of BC’s gasoline is from guess where:

AB.

Captive market. Very simple economics and marketing.

And the American’s in WA state that top off any shortage, well, their prices are “what the market will bare.” So much for the giving, caring, sharing Lefty Dems there – they’ll hose BC just as good as AB and their Righty Gov.

—————————————

Thank your anti-pipeline, Green holier than thou NDP Gov BC.

AB & WA, not so magnanimous after all.

#85 Eco Capitalist on 09.03.19 at 10:37 pm


There’s too many men
Too many people
Making too many problems
And not much love to go round
Can’t you see
This is a land of confusion.

This is the world we live in
And these are the hands we’re given
Use them and let’s start trying
To make it a place worth living in.

Ooh superman where are you now
When everything’s gone wrong somehow
The men of steel, the men of power
Are losing control by the hour.

Land of Confusion
Genesis (the band, not the book)
Written in 1986

#86 Leo Trollstoy on 09.03.19 at 10:38 pm

#24 Eaglebay on 09.03.19 at 6:09 pm
#8 leebow on 09.03.19 at 5:05 pm
“Trump is the Schroedinger president. His mind is always in a state of thought superposition.”

And entanglement

Faster than the speed of light

#87 IHCTD9 on 09.03.19 at 11:04 pm

This might be pushing the limits but…

I’m an unabashed old school knuckle dragger, but I am also determined to live life in an intellectually honest way. I don’t like living life pissed off, but if I am, it’s going to be because of FACT, not because I’ve been played like a fiddle by an Alex Jones.

I don’t like immigration, I like a homogeneous culture, and am totally OK with a Canada #1 (or USA #1) national sentiment. I really wish things had not come to the point where we needed to import our population.

But then there are those damn FACTS which I MUST consider lest I become an instrument for the loonies who would like nothing more than to see me join them in a quagmire of resentment and anger.

Those facts are, that our fertility rates are shot to hell, and a declining population means the social net, health care, and our retirement benefits will decline alongside. It means more taxes, higher taxes, less economic growth, and big revenue problems for all levels of government. It’s an everyone loses proposition, and that’s because of the system we have built – essentially a ponzie scheme where there always needs to be more youth at work, than wrinklies retiring.

Beyond that, I have yet to find any Indian, Chinese, Middle Easterner etc.. that I can fault any further than I could a born Canadian. The reality is, there have actually been plenty of common sentiments: Conservative Politics, family values, and spiritual beliefs. I can’t deny that I am treated well when I meet these folks in person (customers). Walking a road of unbiased reason forces me to accept that many of these folks actually have more in common with me as a right wing, God fearing, caucasian Male than most born Canadians do.

Thus, the rules for living life prevail. We don’t as a nation have a better choice, and these folks aren’t so different after all when you make clinging to the truth MANDATORY. I am content in the knowledge that for now at least, and for Canada in particular, immigration appears to be the right choice.

IMHO, rules that govern your decision making are what keep you from weakness, from being a tool, and being an @ss. I could easily be a racist, but for the limits I set on how I hang my hat. I’ll be damned if anyone is going to put ideas in my head other than me. Epictetus had all of this stuff figured out a long time ago:

“No man is free who is not master of himself.”

“Men are disturbed not by things, but by the view which they take of them.”

“Make the best use of what is in your power, and take the rest as it happens.”

^Wisdom for anyone who finds him/herself living in anger.

#88 n1tro on 09.03.19 at 11:11 pm

This is the world we live in. Diversify your assets accordingly, going to get worst before it gets better.

“Why don’t they go back and help fix the totally broken and crime infested places from which they came.”
-Trump (xenophobe?)

“Israel has hypnotized the world, may Allah awaken the people and help them see the evil doings of Israel.”
-Ilhan Omar (anti-Semite?)

Compared migrant facilities at the U.S.-Mexico border as “concentration camps.”
-AOC (idiot?)

Lynne Patton is a “prop” because she happen to be a black woman sitting in the gallery during a hearing where members of Congress were debating whether Trump was racist.

“a calming feeling … when I think of the Holocaust.”
-Rashida Tailb (racist? Nazi?)

“We don’t need any more black faces that don’t want to be a black voice.”
-Aryanna Pressly (black hating black?)

#89 Nonplused on 09.03.19 at 11:19 pm

#61 Nonplused

DELETED.

I said nothing overly offensive and not fact based. There can be no religion exempt from accepting all religions.

#90 Kurt Edwards on 09.03.19 at 11:26 pm

#21 GBiddy on 09.03.19 at 5:55 pm
“…a political blog that skews socially left.” What, exactly, have you been smoking and where can I buy some?

#91 Stylite on 09.03.19 at 11:43 pm

Its just way people were brought up in their family and where they grew up city or town. This whole racism thing isn’t going to change much right now. Especially when most people hang out with like minded people..or just stay at home and get their info from who knows where. There are these small but deep pockets where the discriminators try to spread their nonsense. In the end everyone wants to feel like they belong somewhere, especially when they don’t know where they came from.

There is no other place like North America. The whole demographic is changing and so will the dynamic of societies conscious….now excuse me while I voluntarily check the box for visible minority.

#92 Vampire Studies Phd on 09.03.19 at 11:53 pm

47 Weatherman – a little history for you

http://www.native-languages.org/florida.htm

I cant believe I’m commenting on this…….cant we get back to finance and RE?

#93 Paul on 09.03.19 at 11:55 pm

#42 ts on 09.03.19 at 7:49 pm
@#4smartersquirrel I’ve never understood the fear of ‘other’ but then I’ve never seen people as ‘other’… sure I see differences in culture and appearance… but I haven’t met a single person I see as ‘other’ yet. Maybe that’s where we start… everybody is pretty much the same, trying to survive, trying to love and be loved, trying to succeed,
trying to enjoy life, to deal with struggle and sorrow.
————————————————————-
Totally agree. Many people are simply too narrow-minded and ignorant in their views of other cultures.
I’ve worked with Muslims, Asians, Jamaicans, etc. who were absolutely the most down -to -earth , friendly, trustworthy and responsible people you could ever meet. In fact, the white people I worked with were the worst -back-stabbing, two-faced, liars, lazy and selfish people you could imagine.
———————————————————————————————
How does this sound???

I found that the Black people I worked with were the worst -back-stabbing, two-faced, liars, lazy and selfish people you could imagine.

#94 Jen on 09.04.19 at 12:00 am

I am hearing on this blog by some, not to get too sweaty, all this Hurricane mess has nothing to do with climate change. Okay, fair enough! My question to you, ‘ are you against reducing toxic pollution?’

If you answered no, then you better leave this earth.
Because at the end, we will all suffer the consequences of cancer becoming in the near future, our number ONE killer.

#95 Blackdog on 09.04.19 at 12:00 am

We should call out the the other ‘ism’ when we see it too, ageism that is. Ageism is like prejudice against your future self. It makes no sense unless you plan to die young. As with most isms it is based on fear, in this case fear of aging. Sad we don’t live in a society that respects their elders. It would be better for EVERYONE if we did.

#96 Ponzius Pilatus on 09.04.19 at 12:06 am

10 most livable cities.
Billy Joel: when will you realize, Vienna waits for you.
Surprise, Calgary beats Vancouver

Hier lässt es sich am besten leben
Rang Stadt Land
1 Wien Österreich
2 Melbourne Australien
3 Sydney Australien
4 Osaka Japan
5 Calgary Kanada
6 Vancouver Kanada
7 Toronto Kanada
7 Tokio Japan
9 Kopenhagen Dänemark
10 Adelaide Australien
Quelle: Economist Intelligence Unit

#97 Neo on 09.04.19 at 12:29 am

Stuxnet is my favourite piece of software.

My magnum opus

#98 Not So New guy on 09.04.19 at 12:31 am

No worries about the markets going backwards. It appears the Fed is back in the game. It seems they just can’t help themselves. The economy is great. That explains why the Fed is the (sometimes only) buyer of bonds

https://www.zerohedge.com/news/2019-09-03/fed-back-bond-buying-business

#99 #NastyNazi on 09.04.19 at 12:32 am

#19 BobC on 09.03.19 at 5:51 pm
We should all be like the Japanese.

I agree, BobC. And the Germans also, since they tried to bomb us too.

#100 DON on 09.04.19 at 12:36 am

The Jaguar

*Interesting comment about intuition the other day. What do you see, if I may ask?

#101 DON on 09.04.19 at 12:42 am

#74 Sail Away on 09.03.19 at 9:36 pm

One question, though: is bias against Trump also discrimination, or is it not? Why or why not?
***************

Trump creates is own bias, hard not to have a bias against Trump…his actions, comments come from him.

As Tony alluded to the other day, Trump will always boast his deals as being ground breaking…simply tremendous deals and strategy, ground breaking deals with some very very smart and dedicated patriots at the helm.

Trump does one thing well…he constantly talks him self up and his opponents down.

China on the other hand can afford to wait the US out.

#102 DON on 09.04.19 at 12:52 am

Questions.

At what point did people know that things were going off the rails prior to the 2009 twister sister roller coaster ride?

At what point will we know the next downturn is coming or is upon us…two negative quarters?

How reliable are the stats?

How fast can things change from good to bad?

How many possible triggers/variables are there floating around?

How do people have so much debt? Does everyone have a maid and personal uber driver.

#103 DON on 09.04.19 at 1:00 am

#49 crowdedelevatorfartz on 09.03.19 at 8:03 pm

@#44 Christy Clark
“Now, pay your overprice property taxes.”
+++++

Only after I pay my BC Govt Cash Cow Car Insurance on a monthly instalment plan.

But wait.

The NDP plan…… to the rescue…..

https://www.citynews1130.com/2019/09/02/bc-ombusdperson-poised-to-field-complaints-as-new-icbc-rates-roll-out/
***********************

People complaining about being bad drivers as there rates increase? Having a clean record is a good thing, being a jack ass on the road, not soo good. May help temper the road rage in Greater Van.

Wonder if Red Light Christy pays more?

#104 Al on 09.04.19 at 1:09 am

“…it is done. These places need your help badly, you can’t leave fast enough. I’m sure that Nancy Pelosi would be very happy to quickly work out free travel arrangements!”

Ball’s in your court Sail Away.”

How does this ameliorate the first part of the phrase? Does he tell whites to go back to crime infested countries because they still need their help badly if a white ” loudly and viciously tell the people of the United States, the greatest and most powerful Nation on earth, how our government is to be run”?

Said away.

#105 Al on 09.04.19 at 1:29 am

This one a goodie from the vox article:

1991: A book by John O’Donnell, former president of Trump Plaza Hotel and Casino in Atlantic City, quoted Trump’s criticism of a black accountant: “Black guys counting my money! I hate it. The only kind of people I want counting my money are short guys that wear yarmulkes every day. … I think that the guy is lazy. And it’s probably not his fault, because laziness is a trait in blacks. It really is, I believe that. It’s not anything they can control.” Trump at first denied the remarks, but later said in a 1997 Playboy interview that “the stuff O’Donnell wrote about me is probably true”.

#106 islander on 09.04.19 at 2:18 am

“And Dorian has the climate change gang warning extreme (and very expensive) weather is in our future.”

Keep an eye on the insurers.

https://www.forbes.com/sites/mikescott/2018/05/31/insurers-in-the-front-line-of-the-fight-against-climate-change-shoot-themselves-in-the-foot/#39ba5a5b40fa

https://www.theguardian.com/environment/2019/mar/21/climate-change-could-make-insurance-too-expensive-for-ordinary-people-report

#107 Bertrand Goldberg on 09.04.19 at 4:14 am

Best time to buy risk assets? Some say so. Stocks reflect the future pondering of tea leaf readers who pour over balance sheets as opposed to those who Hate Trump…….and that’s about it. Hating Trump is not a strategy. Day to day safety is not an investment strategy. Buy companies that do good things and pay out dividends while they’re at it, simple.

https://www.cnbc.com/2019/09/03/its-a-great-time-to-buy-risk-assets-bank-of-america-merrill-lynch-strategist.html

#108 Jimers on 09.04.19 at 6:41 am

Steve Bannon: New Film On Huawei – “Claws of the Red Dragon”, Hong Kong Protest & US China Trade War

https://americasvoice.news/steve-bannon-new-film-on-huawei-claws-of-the-red-dragon-hong-kong-protest-us-china-trade-war/

#109 Justin S on 09.04.19 at 7:27 am

Garth – thank you for your last part of the blog post today. You are 100% bang-on. Take that sh!t elsewhere people. It is not welcome or wanted on this blog.

#110 the Jaguar on 09.04.19 at 7:33 am

@ #100 DON on 09.04.19 at 12:36 am

That we’re not fully ‘down’ yet from a real estate perspective. Prices will continue to drop and impact the finances of those who purchased in desperation or racked up their credit cards and lines of credit to live the ‘consumer lifestyle’. Bankruptcy stats to go way up. An abandonment of interest in living in small boxes in glass towers as the facts become evident that they are poorly constructed for the long term and are as soul sucking as a A&W meatless burger. People will wake up and stop drinking the Kool-aid that the world can function without petroleum and show a little more respect when everything from their transportation to their food sources begin to get more expensive due to a lack of investment in the industry. Rail transport will be back in some parts of the country, goods and people. Renewed interest in living smaller, quieter and more meaningful lives. Like Dolce Vita where he lives, or folks who choose Lunenburg, or Picton or Huntsville, etc. And if one must or prefers the city niche neighbourhoods with low rise structures that offer a little more humanity. Not smurfy burbs or congested, traffic invested city centres. Cities with real character and history like Montreal will benefit. I also think one or two venerable institutions that seemed bullet proof will suffer a reckoning in their value when their internal mismanagement becomes visible. We’ll see. It’s not all doom and gloom, but living a simple, sustainable life supported by healthy choices keeps a person nimble and ready for changes that need to be made. Keep that powder dry. Of course in your neck of the woods (Van Island north) the money will continue to flow in with those who are abandoning the cities for all of the above. But what does the Jag, know? Just a cool cat.

#111 oh bouy on 09.04.19 at 7:52 am

@#55 Nonplused on 09.03.19 at 8:12 pm
“Why don’t they go back and help fix the totally broken and crime infested places from which they came.” No xenophobia there… – Garth

“You hypocrite! First, remove the beam out of your own eye, and then you can see clearly to remove the speck out of your brother’s eye.” – Matthew 7.5 – Christ

That speaks volumes. – Garth
____________________________________

Nonplused you make baby jesus cry.
maybe the brietbart comment section is a better place for you

#112 Andrewt on 09.04.19 at 8:05 am

#74 Sail Away on 09.03.19 at 9:36 pm
One question, though: is bias against Trump also discrimination, or is it not? Why or why not?

—-
That’s ridiculously facile. A judgement of character based on an individual’s words and actions is nothing like discrimination against a group of people based on what they look like or where they live etc.

#113 Bytor the Snow Dog on 09.04.19 at 8:08 am

104 Al-

Where they gonna send the white guys back to, New Jersey?

#114 Ponzius Pilatus on 09.04.19 at 8:10 am

#94 Jen on 09.04.19 at 12:00 am
I am hearing on this blog by some, not to get too sweaty, all this Hurricane mess has nothing to do with climate change. Okay, fair enough! My question to you, ‘ are you against reducing toxic pollution?’

If you answered no, then you better leave this earth.
Because at the end, we will all suffer the consequences of cancer becoming in the near future, our number ONE killer.
———–
It already is.
Just surpassed heart attacs and strokes.

#115 dharma bum on 09.04.19 at 8:29 am

#95 Sail Away (from Sept. 2)

What do either of you know about corporations?
——————————————————————–

A lot.

Working as a chief operating officer, a sales manager, and a general manager for corporations over 35 years gave me a lot of insight into the culture and mentality of the profit motive. I worked to earn profits for corporations.

If it were up to them, they would hire slaves if they could, if not for the constant pushback by unions, workers, the media, the government, etc.

As it stands, the corporations are winning. Even without my help. Imagine that.

#116 Ponzius Pilatus on 09.04.19 at 8:32 am

Great day for democracy in HongKong.
These young students are true heroes.
And, Salvini seems to be finished, too.
Boris is next.
As I said, great day for democracy.
The world is a better place today.

#117 crowdedelevatorfartz on 09.04.19 at 8:33 am

@#96 Ponzie Prattle
“the 10 most LIVABLE cities…”
+++++

Livable also factors in “affordable”….hence Calgary’s ranking above Vanc and TO.
I lived in Cowtown and Van…. no comparison. Van Hands down.

Here another useless stat for you.

The safest color of car to drive ( least amount of accidents) is …the color pink.

I still dont want to own …or drive…a pink car.

https://www.youtube.com/watch?v=qD5Vythvxig

#118 IHCTD9 on 09.04.19 at 8:46 am

#91 Stylite on 09.03.19 at 11:43 pm

Its just way people were brought up in their family and where they grew up city or town. This whole racism thing isn’t going to change much right now.
___

This is pretty accurate I think.

I expect that kids going to school mingled together with all manners of different backgrounds from a young age will end up seeing things differently than how it turned out for me. That’ll be their “normal”.

It’ll be a while yet, but Gen Z should already be in pretty good shape overall.

#119 Jeff on 09.04.19 at 9:09 am

Garth I really respect your financial advice but your virtue signalling (“I’m standing up for the minorities!”) is really starting to grate lately. I understand boomers took their brainwashing without the benefit of the Internet as a counterbalance but really, get a clue.

The blog will not be a sounding board for racial prejudice. That’s my choice. If you’re unhappy here, go to the door with the big EXIT sign above it. There are lots of places you can find to be a non-virtuous bigot, if that makes you happy. – Garth

#120 Sail away on 09.04.19 at 9:17 am

#112 Andrewt on 09.04.19 at 8:05 am
#74 Sail Away on 09.03.19 at 9:36 pm

———————————————-
One question, though: is bias against Trump also discrimination, or is it not? Why or why not?

———————————————-
That’s ridiculously facile. A judgement of character based on an individual’s words and actions is nothing like discrimination against a group of people based on what they look like or where they live etc.

———————————————-

Where is a specific example of this racism, bigotry and xenophobia Trump is so famously exhibiting?

I believe in examining facts and making my own determination, and do not see clear evidence of bigotry or any of the -isms.

Trump isn’t nice to anyone. How about we make a list of all the people he’s insulted or demeaned? Oh look- it includes a whole bunch of white people, including Justin Trudeau, Angela Merkel, the Swedish government, Teresa May, etc. and etc…

Just because someone’s an ass doesn’t mean he’s also a demon.

#121 n1tro on 09.04.19 at 9:19 am

#94 Jen on 09.04.19 at 12:00 am
I am hearing on this blog by some, not to get too sweaty, all this Hurricane mess has nothing to do with climate change. Okay, fair enough! My question to you, ‘ are you against reducing toxic pollution?’

If you answered no, then you better leave this earth.
Because at the end, we will all suffer the consequences of cancer becoming in the near future, our number ONE killer.
————-
Climate change and reducing pollution are two different things. I think you will find people who scoff at a general tax on carbon that is not earmarked for anything specific, managed “diligently” by the government would readily pay into specific programs/tax that reduces things like pollution, replanting trees, conservation, etc, etc which we have been doing for years.

Science (real scientists not sucking from the teet of government grants) are trying to establish a correlation between increased carbon and climate change. In the unlikely event that is correlation is established, that does not necessarily mean causation. Let that sink in for a bit.

Politicians are using climate change as a talking point to justify taxing people.

Some mainstream folks use Occam’s razor to incorrectly assume climate change is linked to man-made activities. Even if this fallacy is correct, Occam’s razor doesn’t point to carbon but just generally human activities. Using the same sound logic of Occam’s razor, we should just start killing ourselves and others to solve the problem right?

#122 Leo Trollstoy on 09.04.19 at 9:22 am

Trump: all publicity is good publicity pay attention to me!

Society: yes

#123 Post on 09.04.19 at 9:33 am

Passive investments such as index funds and exchange-traded funds are inflating stock and bond prices in a similar way that collateralized debt obligations did for subprime mortgages more than 10 years ago….

https://www.cnbc.com/2019/09/04/the-big-shorts-michael-burry-says-he-has-found-the-next-market-bubble.html

Of course not. There is no valid comparison with CDOs. – Garth

#124 SmarterSquirrel on 09.04.19 at 9:35 am

#42 TS

I was with you until you started berating white people. Again any individual’s perceived short comings are not caused by their skin colour or heritage. Lumping together a bunch of people based on their colour and then complaining about their collective characteristics is exactly what I’m arguing against. You may have missed the point. (Surprised your comments against white people got past Garth’s delete button.)

I’ve been fortunate to find wonderful people from all ethnic backgrounds. When I encounter someone I don’t get along with I just chalk it up to someone I’m not sympatico with, I don’t link it to their ethnic background. And when I do get along with someone, it’s not because of their ethnic background either. Who cares where anyone’s great great grandfather was born?

#78 Hunh?

#125 IHCTD9 on 09.04.19 at 9:58 am

#93 Paul on 09.03.19 at 11:55 pm

#42 ts on 09.03.19 at 7:49 pm

…In fact, the white people I worked with were the worst -back-stabbing, two-faced, liars, lazy and selfish people you could imagine.
———————————————————————————————

How does this sound???

I found that the Black people I worked with were the worst -back-stabbing, two-faced, liars, lazy and selfish people you could imagine.
_____________

Indeed.

That’s what happens when you speak first and think later.

ts is probably the biggest racist on this blog looking at that post of his/hers.

#126 Sonny on 09.04.19 at 10:13 am

Bank of Canada leaves key interest rate unchanged at 1.75 per cent

https://www.citynews1130.com/2019/09/04/bank-canada-key-interest-rate-unchanged/

#127 Flop... on 09.04.19 at 10:16 am

Australia…182b or 1.67%

Canada…210b or 1.92%

Reserve currency of Tasmania?

Apples…

M45BC

“Charting The Most Powerful Reserve Currencies in the World

Most people assume the U.S. dollar holds the top spot for currencies. But by how much? Have you ever wondered which of the world’s reserve currencies are the most powerful?

Reserve currencies are currencies that a country holds in its foreign exchange reserve. These can be used for international payments and to support a country’s own national currency. Developing countries that export tend to hold more foreign currencies than developed currencies. So which currencies top the list? We put together an easy-to-read visualization to find out more about the world’s top reserve currencies in 2019.

The U.S. Dollar makes up 61% of all central bank foreign reserves, making it the most popular and powerful currency in the world.

The total value of all currencies held in foreign exchange reserves is equal to nearly $11 trillion.

The U.S. Dollar also dominates the forex trading market and is involved in about 90% of all forex trading.

The Euro and U.S. Dollar make up over 80% of the world’s currency reserves.

Despite being a large part of global trade, the Chinese Renminbi makes up less than 2% of global currency reserves.

To find the top reserve currencies in the world, we pulled the latest data from the International Monetary Fund (IMF). This data is from the first quarter of 2019. This data accounts for the currency composition of all official foreign exchange reserves. Using this data, we created a helpful chart which can be used to easily identify the most powerful reserve currencies in the world as of 2019. Keep in mind that this data does not reflect unallocated reserves.

The World’s Top Reserve Currencies in 2019

1. U.S. Dollar: $6.74 trillion (61.82%)
2. Euro: $2.21 trillion (20.24%)
3. Japanese Yen: $572 billion (5.25%)
4. Pound Sterling: $495 billion (4.54%)
5. Chinese Renminbi: $213 billion (1.95%)

Reserve currencies play an incredibly important role in the world economy. Not only do these currencies affect the international economy, but they play an important role in the value of each country’s national currency. As of 2019, the U.S. Dollar, Euro, and Japanese Yen are the most prominent currencies in the world with the U.S. Dollar leading the pack by a fair margin. Currently, around $580 billion U.S. Dollars are used internationally, 90% of forex trading involves U.S. bills, and about 40% of the globe’s debt is issued in this currency. While some countries have called for the establishment of a singular global currency for stability purposes, there doesn’t seem to be any imminent plans to do so.”

https://howmuch.net/articles/worlds-top-reserve-currencies-2019

#128 expat on 09.04.19 at 10:22 am

DELETED

#129 Post on 09.04.19 at 10:53 am

Of course not. There is no valid comparison with CDOs. – Garth
———————
What I take from the article is that ETF’s and other passive investments are not as liquid as many believe. If the trillions of dollars invested, all head for the exits at similar times, there isn’t sufficient volume and therefore the price will crash?

Nope. Mainstream ETFs are completely liquid, negotiable, openly-traded securities. A groundless fear. – Garth

#130 Jesse on 09.04.19 at 11:00 am

#4 SmarterSquirrel on 09.03.19 at 4:43 pm
I’ve never understood the fear of ‘other’ but then I’ve never seen people as ‘other’… sure I see differences in culture and appearance… but I haven’t met a single person I see as ‘other’ yet. Maybe that’s where we start… everybody is pretty much the same, trying to survive, trying to love and be loved, trying to succeed, trying to enjoy life, to deal with struggle and sorrow.
*****************************

It’s because people are tribal, it’s baked into our DNA.

#131 Flop... on 09.04.19 at 11:06 am

#117 crowdedelevatorfartz on 09.04.19 at 8:33 am
@#96 Ponzie Prattle
“the 10 most LIVABLE cities…”
+++++

Livable also factors in “affordable”….hence Calgary’s ranking above Vanc and TO.
I lived in Cowtown and Van…. no comparison. Van Hands down.

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

Hey Crowdie, in Australia while Melbourne and Sydney get all the headlines there are other secondary cities that I see as much more liveable.

One of these sleepers comes in at number ten on that world list.

Adelaide.

The one thing Adelaide has over a lot of those other cities mentioned is relatively affordable real estate.

Check out this listing from a suburb around 10 km from downtown Adelaide.

Less than 400k, huge backyard.

I don’t know if Adelaide is 127 or 128 on my back-up, back-up list.

But it’s on there…

M45BC

https://www.domain.com.au/15-baloo-street-ingle-farm-sa-5098-2015472391

#132 the Awakened One on 09.04.19 at 11:09 am

Garth,

I thought you don’t like cats?

I’m afraid… every time you posted a feline photo, the market tanks badly!

Is this an omen? Should I stay thick-skinned and ignore the market for now?

#133 Ponzius Pilatus on 09.04.19 at 11:23 am

#117 crowdedelevatorfartz on 09.04.19 at 8:33 am
@#96 Ponzie Prattle
“the 10 most LIVABLE cities…”
+++++

Livable also factors in “affordable”….hence Calgary’s ranking above Vanc and TO.
I lived in Cowtown and Van…. no comparison. Van Hands down.

Here another useless stat for you.
——————-
I forwarded your comment to The Economist.
I’m sure they will make the adjustment in their next edition.

#134 The Totally Unbiased, Highly Intelligent, Rational Observer on 09.04.19 at 12:13 pm

Jen at #94 said…“I am hearing on this blog by some, not to get too sweaty, all this Hurricane mess has nothing to do with climate change. Okay, fair enough! My question to you, ‘ are you against reducing toxic pollution?’”

In the olden days, when a little bit of real science was taught in schools, children learned that people and animals breathed in oxygen and breathed out carbon dioxide. Green plants then took in the carbon dioxide from the air and by a process called photosynthesis put out oxygen. Everything was in perfect balance and absolutely wonderful.

More recently, with the man-made-global-warming scammers targeting their shameful fibs at little school children (to try to mess up their little minds for an entire lifetime), a whole generation is being bamboozled into fearing that carbon dioxide is causing global warming and that it is therefore a “toxic pollutant” rather than something that is very important for plants to thrive.

Reducing truly toxic pollution in the environment is a good idea. Unfortunately, some silly women today do not know the difference between truly toxic pollution and vital plant food.

#135 IHCTD9 on 09.04.19 at 12:36 pm

#117 crowdedelevatorfartz on 09.04.19 at 8:33 am

The safest color of car to drive ( least amount of accidents) is …the color pink.

I still dont want to own …or drive…a pink car.

https://www.youtube.com/watch?v=qD5Vythvxig
___

My first car was a late 70’s 4 door sedan painted red.

Single stage Lacquer.

It wasn’t long before that crap paint oxidated to a flat pink hue, which went just as well with the ugly as sin white vinyl top.

I smashed that sucker into scrap metal on a bridge the first snow of the same year I got my license.

Luck was with me that night as no other vehicles were involved. I drove that rolling scrap pile back home holding the wheel 1.5 turns to the left to keep going straight. The crooked front tires howled on the pavement and the shredded hood and fenders flapped in the wind all the way back home. No charges laid, no insurance increases levied.

Maybe it was the pink shade saved my financial life that night :)

#136 SoggyShorts on 09.04.19 at 12:37 pm

#120 Sail away on 09.04.19 at 9:17 am
#112 Andrewt on 09.04.19 at 8:05 am
#74 Sail Away on 09.03.19 at 9:36 pm

Where is a specific example of this racism, bigotry and xenophobia Trump is so famously exhibiting?

*****************************
Here’s some:
https://www.vox.com/2016/7/25/12270880/donald-trump-racist-racism-history

#137 Dan Mctavish on 09.04.19 at 12:57 pm

Sonny, it does not matter that the Bank of Canada did not cut interest rates today. They have already dropped 75 to 100 basis points in the bond market which in turn is reflected in the GIC, mortgage market interest rates.

#138 boots on the ground in ptown on 09.04.19 at 1:21 pm

Things that make you go hmmm…

https://blog.remax.ca/how-to-buy-short-sale-vancouver-real-estate/

Kudos to housingbubble.blog for the link find

#139 Marco on 09.04.19 at 2:09 pm

DELETED

#140 Gravy Train on 09.04.19 at 2:27 pm

Hey, Flop. I just got my power bill for the last two months, and all I had to pay was the base charge plus tax for a total of $22.75. :)

As I’m sure you’ve guessed by now, Flop, the above comment was designed to stir up some of the ‘deplorables’ and other ‘swamp monsters’ here in the comment section—as if they need stirring up today. The comments have been particularly ‘swampy’ today, don’t you think? I’m sure Garth would agree with me. I don’t know how he puts up with it all, do you? :)

#141 Remembrancer on 09.04.19 at 2:28 pm

#135 IHCTD9 on 09.04.19 at 12:36 pm
#117 crowdedelevatorfartz on 09.04.19 at 8:33 am
——————-
Fun with stats…

Sure Pink cars probably have the least absolute amount of collisions, anything to do with probably being the least represented colour of cars on the road?

Going out on a limb, does this article say anything about the epidemic of black and white, and maybe silver, cars in collisions?

#142 greyswan on 09.04.19 at 2:48 pm

DELETED

#143 crowdedelevatorfartz on 09.04.19 at 2:55 pm

@#133 Ponzie Plebe

I await my next edition of The Economist with baited breath.
I can’t wait to see my Letter to the Editor.

….and I’ll have you to thank.

What a selfless guy.
Thanks buddy.

#144 Don Guillermo on 09.04.19 at 3:23 pm

#117 crowdedelevatorfartz on 09.04.19 at 8:33 am
@#96 Ponzie Prattle
“the 10 most LIVABLE cities…”
+++++

Livable also factors in “affordable”….hence Calgary’s ranking above Vanc and TO.
I lived in Cowtown and Van…. no comparison. Van Hands down.

Born and raised in BC. Lived in Vancouver and Toronto before moving to Calgary. Quality of life hands down goes to Calgary. Other two are not even close.

#145 Axehead on 09.04.19 at 3:28 pm

#134 Well said. Science vs political propaganda. Follow the money trail to see who benefits when CO2 is deemed pilution (not true, It is basically plant food).

#146 Flop... on 09.04.19 at 3:29 pm

Gravy Train
Hey, Flop. I just got my power bill for the last two months, and all I had to pay was the base charge plus tax for a total of $22.75. :)

As I’m sure you’ve guessed by now, Flop, the above comment was designed to stir up some of the ‘deplorables’ and other ‘swamp monsters’ here in the comment section—as if they need stirring up today. The comments have been particularly ‘swampy’ today, don’t you think? I’m sure Garth would agree with me. I don’t know how he puts up with it all, do you? :)

Hey Gravy, good summer?

It’s almost over, what a bummer.

Little bit cramped on the blog nowadays.

I can’t swing a comment in here without hitting a deplorable…

M45BC

#147 crowdedelevatorfartz on 09.04.19 at 4:02 pm

@#141 Remembrancer
“Sure Pink cars probably have the least absolute amount of collisions, anything to do with probably being the least represented colour of cars on the road?”

++++
Really?
No flies on you.

The premise of my original example was….
You can skew stats to say anything you want….
Thus, the ridiculous example of pink cars are the safest color car on the road to drive because they are in the fewest accidents……

#148 Jesse on 09.04.19 at 4:14 pm

#144 Don Guillermo on 09.04.19 at 3:23 pm
#117 crowdedelevatorfartz on 09.04.19 at 8:33 am
@#96 Ponzie Prattle
“the 10 most LIVABLE cities…”
+++++

Livable also factors in “affordable”….hence Calgary’s ranking above Vanc and TO.
I lived in Cowtown and Van…. no comparison. Van Hands down.

Born and raised in BC. Lived in Vancouver and Toronto before moving to Calgary. Quality of life hands down goes to Calgary. Other two are not even close.
***************************************

Calgary winters are long and unbearable (for many) relative to Vancouver and Toronto. Alberta is no joke when it comes to winter.

#149 Don Guillermo on 09.04.19 at 4:42 pm

#148 Jesse on 09.04.19 at 4:14 pm

Calgary winters are long and unbearable (for many) relative to Vancouver and Toronto. Alberta is no joke when it comes to winter.

Worst working winters I’ve ever experienced were working off the shores of Lake Ontario on construction projects with the cold humid winds coming off the lake. Working winters in Calgary were driving 10 minutes to downtown, parking underground, walking through +15 areas in shirtsleeves with blue skies streaming through and reflecting off the glass towers. Don’t even get me started on the rainy gloomy Vancouver winters.

#150 Sail Away on 09.04.19 at 6:24 pm

#136 SoggyShorts on 09.04.19 at 12:37 pm
#120 Sail away on 09.04.19 at 9:17 am
#112 Andrewt on 09.04.19 at 8:05 am
#74 Sail Away on 09.03.19 at 9:36 pm

Where is a specific example of this racism, bigotry and xenophobia Trump is so famously exhibiting?
*****************************
Here’s some:
https://www.vox.com/2016/7/25/12270880/donald-trump-racist-racism-history

————————————

Nope, every incident is interpretation, has extenuating circumstances, or is anecdotal. If you’re being honest, you’ll see the same thing.

#151 Gravy Train on 09.04.19 at 6:55 pm

#146 Flop… on 09.04.19 at 3:29 pm
“Hey Gravy, good summer?” Yup. Took in many of the events and activities of the weeklong summer carnival in our area, went to some museums and art galleries, and will attend a free symphony concert in a couple of weeks.

“It’s almost over, what a bummer.” Yeah, and I haven’t even started planning a trip to some tropical locale for this winter. I better get a move on. :)

“Little bit cramped on the blog nowadays.” Crazy, isn’t it?

“I can’t swing a comment in here without hitting a deplorable…” I see that I didn’t even get a nibble from a ‘deplorable’ about my previous comment. As you’ve seen many times, Flop, I’ve been in knock-down, drag-out fights on the topic of solar panels. Maybe I should have mentioned that we produced more power than we consumed, so the power company also gave us a surplus carryover of 767 kWh, and at $0.16684/kWh we have a credit of $127.96 to be applied on a future power bill. I suppose the power company didn’t want to write us a cheque. Now if that doesn’t get AB Boxster’s or Nonplused’s blood boiling, I don’t know what will. :)

M45BC

#152 aerozone on 09.04.19 at 8:22 pm

Pathetic but prophetic?
Garth, please join us for Spoken Word night
in Victoria this weekend.

Single malties ’till someone slurs one.