“A Conservative government will fix the stress test to make sure first time homebuyers can get access to a mortgage.”
And with those twenty words young Andrew Scheer, all dimpled and determined, made it official. Full speed astern. The thrusters are reversed. Let’s party like it’s 2016. Blackface meets clownface. What a sad corner this grimy little election has pushed us into.
The news since yesterday: first the Trudeau Libs announced yet another tax decrease, this one worth $6 billion as the basic personal exemption is raised to $15,000. More spending and lower revenues. Welcome to the PayPal generation of political leaders.
Then the Tories caved on housing. The stress test will be gutted. Thirty-year insured mortgages are coming back. Everyone who wants a house will get a mortgage. It’s a perfect foil to the Lib plan to have the government pay part of moister mortgages on $800,000 deals.
Well, let’s review.
The stress test was initiated not by the T2 government, but the bank regulator, OSFI.
It was not initiated to restrict credit and dampen the real estate market, but rather to protect the integrity of bank mortgage portfolios, and therefore the banks themselves.
In the bad old days (2016-7) newbie buyers gifted downpayments from the Bank of Mom could avoid the stress test of the day, which was for insured buyers only (those with less than 20% of the price). As a result, the banks found a growing proportion of their loans were uninsured and yet had been made to kids without financial heft. That spelled risk. The regulator freaked. And the stress test was brought in to ensure every buyer – regardless of the amount of equity they might have – had the resources to handle higher payments.
The results?
About a fifth of buyers have been punted because they couldn’t qualify for loans at the test rate: a little over 5%. Given that this level is very low by historic standards, it suggested the regulator had been correct. Money was too easy to get, and bankers too lax. Last year the total new mortgages fell by about 8%. Values in Vancouver dropped by double-digit. Sales in the GTA took a dive. Builders and developers started to chop prices. Realtors squealed. And lower-priced properties got less affordable as more expensive ones cheepened. The stress test forced people to buy in a price range they could afford, affecting demand.
What about 30-year amortizations?
The longer the am, the lower the monthly payment and the more interest a buyer forks out. But since our world is all about monthly overhead and not total debt, weak politicians and voracious realtors seem determined to bring them back. Of course lower payments make it easier to afford bigger mortgages – especially when there’s no stress test – and that increases demand, and prices. Up she goes.
It took the Toronto Real Estate Board about five minutes to issue this statement after Scheer’s utterance:
“Housing affordability is one of the most important issues facing Canadians. We are glad that the federal political parties are acknowledging this with their respective plans. Two key issues that TREB believes have negatively impacted affordability are the federal mortgage stress test and mortgage amortization periods. TREB has been strongly calling for changes to the federally imposed mortgage stress test, since it was imposed, and for a 30-year amortization period for insured mortgages to be re-introduced, to give home buyers more flexibility and assist with affordability,” said Michael Collins, TREB President.
Thus, the interests of the real estate cartel and the Conservative Party are now aligned. Meanwhile the Liberals have allowed RRSPs to be more heavily raided for real estate, and brought in the astonishing idea of shared-equity mortgages.
All this in an environment where a five-year mortgage has collapsed to just 2.5% and prices are creeping back to record levels. So by increasing the incentive to buy, dropping financing barriers and giving first-timers new tools (longer amortizations, shared loans) it seems no matter who wins on October 21st, real estate demand will be goosed. Higher prices seem certain. That will reduce affordability and hike debt. First-time buyers will have larger mortgages and payments with higher interest. More wealth diverted into housing. Less balance and lower savings. Bank risk returns.
I wonder what the regulator thinks. Maybe he’d like to buy a used blog.
145 comments ↓
Its very sad to see what politics are and how these guys will do anything for votes, regardless of effect. Im utterly dismayed that they steal from us and thn bribe us with those same funds
My vote is for the PPC, the one party not promising any market manipulation.
I hope other canadians follow suit this October
A Dollar is a Dollar is a Vote.
Good times, right Garth?
Good times indeed.
Maybe it’s a good time to:
1. Sell your house for a pile of cash
2. Invest it all in index funds
3. Live in a tent, or rent a nice place
And to think it was only just a few short years ago that Canadians thought immigrants and non-residents were causing the house crisis! Opps – Oh thats right, some still do…..
Vote not to vote – ship of fools
@hugh Jessel
I agree that no market manipulation would be better.
But voting for Max is effectively voting for Justin.
I doubt it will make much of a difference if they scrap the stress test. Anyone with half a brain can buy a house with some creativity, thus why so many “own” houses to begin with. It’s definitely a promise made for votes but it will do nothing for affordability. They’re dragging the debt bubble along and trying to get as many as they can to jump into it, I mean they’ve come this far why not see how far it can go?
I said this a few days ago:
The Liberal plan: if you’ve got real estate to sell, whether you’re 65 and have no other retirement plan, or if you (or your corporation) is a speculator and have a lot of unsold condo inventory, then this is the plan for you. The government will transfer risk from wealthy homeowners to (apparently) even wealthier taxpayers, and underwrite up to a 10% price boost to ensure profitability for new builds.
The Conservative plan: if you’re in over your head with Real Estate debt, suddenly finding that your house is worth less than your mortgage, AND you’re unable to constrain your spending, you’ll be free to shop around for a lender that will allow you to ‘blend and extend’ your mortgage out to 30 years, paying thousands more for the opportunity to spend a few hundred dollars less per month. Until you’re overextended again, which should be just in time for the next election.
And?
– Long CAD bonds because the Loonie holds up but the housing souffle collapses?
– Long elsewhere because the Loonie tanks?
– Long Canadian equities because, contrary to a late poster on yesterday’s blog, they’re the classic high margin oligopoly play?
– Long CAD residential real estate because — duh — beat the rush after the election, both of whose frontrunners are spinning “let’s keep this bubble going”?
“..Thus, the interests of the real estate cartel and the Conservative Party are now aligned..”
_ _ _
Have they ever not been? The Tories have always been the party of realtors and other small time hucksters.
The best way to get banks to learn to toughen their lending standards is to let them fail spectacularly when things go south. Governments shouldn’t be in the habit of bailing out poorly run businesses…ask Thomas Cook.
‘Blackface meets clownface.’
The one-asset-based country, Canada moves forward with a couple of cartoon characters as prime candidates, adn a TON of household debt
So the Liberals are living up to their name, and the Conservatives are not so conservative after all …
They are both really quite disgusting all the way around.
Scheer has to offer free goodies too if he wants to get elected. Who ever offers the most goodies wins. Should be obvious by now. The stress test : could be gone with the stroke of a pen. Told ya. Interest rates as low as possible for as long as possible. Told ya that too. You scoffed. Long term trend for housing is up.
“A vote for Max is a vote for Justin. Two, actually. If that’s you’re intention, then be bold.” – Garth
Garth, I am sure that you have some very good reasons for saying that. Your concern is quite understandable.
However, there can come a time when it is necessary to do something different, even if the fake news, fake polls, and even some supposedly real numbers, do not look promising. That time has come and is now. This is how great movements get started and grow large (unless they do not get enough traction).
Therefore, be it resolved that you should immediately cease and desist with all the negativity, worry, and sowing of doubt, discord, confusion, and vote splitting. Hop on the bandwagon and be part of the next potentially big thing in Canadian politics.
Why not give it a try? Didn’t they toss you off your old wagon anyway? Perhaps you hit your head on the curb in that incident, and started to think too much like a Liberal. Well, I am here to tell you that theoretically you can recover, and make a comeback. If you hop on the right wagon, hitched to the right horse, you could get lucky.
Schmuk boy Scheer would have to win a majority, which will not happen. With a minority govt. who would support him?
Spot on Garth, all that matters to the financially illiterate is the monthly & not the total amount of debt. Scary.
” it seems no matter who wins on October 21st, real estate demand will be goosed. Higher prices seem certain.”
Are higher prices certain only in Vancouver and Toronto areas? What about the flat areas like Edmonton, Calgary, Winnipeg?
“A Conservative government will fix the stress test to make sure first time homebuyers can get access to a mortgage.”
And with those twenty words young Andrew Scheer, all dimpled and determined, made it official.
the outcome is going to be complexity, confusion. In some cases, despair, desperation.
In Canada, banks will comment and make recommendations, every step of the way. With teams of lawyers, economists. The government will have its own teams of lawyers and economists. There will be a loss of value. I mean, right now, there’s clarity – if you cannot afford a house, don’t buy one. This clarity will be lost. People will be confused – many will make poor decisions. The poor decision will be to buy a house they cannot afford.
Guys like Garth will get the fallout – the people who bought a house they cannot afford, are going to go to him to see what can be done. Andrew Scheer won’t be in the room.
Never, ever bet against real estate in Canada. Up it goes. Real estate is a fairly consistent and secure way of growing a portfolio, especially if it is in the house you live in. You get more comfort, a better place to live in all the while still growing your assets. Everybody that did it in the past 25 years have nothing to regret.
Garth, this world is crazy. What is the minimum amount necessary to have you and your team manage a portfolio?
#132 n1tro on 09.23.19 at 3:42 pm
————
I’m not a conservative party dude. Nice explanation regardless. Maybe you should explain it to Trudeau (your hero?) because his understanding is more…’hey, spend a ton of tax payer’s money on shit that drives big businesses out of Canada, attack small business people as tax cheats, while making the cost of living through carbon taxes higher will “grow” the economy.
Regardless if Trudeau knew of your definition of how the budget will balance itself or was just mumbling something incoherent because he doesn’t understand the subject matter, tell me if the budget did balance or are we just going to give him a pass because he just tried his best?
——————————————
Don’t recall calling you a conservative. Just pointing out that for anyone with a basic grasp of current orthodox economic thought, the full statement isn’t dumb at all.
And if the carbon tax affects your standard of living, it wasn’t very high to begin with.
It’s like a damn limbo party dance….how low can you go!
The “funny” part: People think Scheer is different than Trudeau. Two sides of the same coin.
Vote Max.
My kids and their 20 something friends don’t care about the RE market or the various goodies the mainstream parties are offering. Environment is their #1 issue – and I am going to vote Green for the first time to support them (and because the alternatives are all unappealing). Greta Thunberg is both hard to watch – and to ignore.
As far as I’m concerned, he can diddle with the stress test all he wants. A free house wouldn’t be enough to make me vote for Scheer.
And for Trudeau, cutting taxes is a fool’s game, a race to the bottom that will undercut basic government services. The best way to ensure more money makes it to Canadians is to make sure they get paid more. Hike the minimum wage and index it to CPI.
All these people moaning about taxes have been deceived by the 1%. It’s not rising government taxes that are gobbling up their share of the pie, it’s rising corporate profits.
Drama teacher meets drama queen.
Justin and Greta could form the Blackface#Redface political activism theater.
https://youtu.be/TMrtLsQbaok
“The government, which was designed for the people, has got into the hands of the bosses and their employers, the special interests. An invisible empire has been set up above the forms of democracy.”
-Woodrow Wilson
“There are basically two types of people. People who accomplish things, and people who claim to have accomplished things. The first group is less crowded.”
-Mark Twain
Second sums up most politicians. Pick your poison and who offers enough flavoring to make it palatable. Good luck to all of us.
Everyone needs to read this:
https://www.scottadamssays.com/2019/09/23/a-message-for-children-about-climate-change/
Wow, there is not much choice who to vote for
Libs must be out , looks like cons have no idea what to do either hahha
Hey where’s the Uppa Uppa Uppa guy?
All the politicians are trying to outdo each other bribing us with our own money…except for one. There is only one politician who is only promising to fix the catastrophic damage done to this country by Mr. Backface and his Liberal minions. I don’t know about you but I’m voting for Maxine Bernier and the Peoples Party of Canada!!
#28 Nonplused
Can’t disagree that the MSM doesn’t help, but as much as I’d like to believe Scott Adams – I think he’s out of his depth on these issues. https://www.nytimes.com/2018/02/28/climate/remove-co2-from-air.html
https://thebulletin.org/2019/06/will-nuclear-waste-disposal-challenges-limit-a-significant-expansion-of-global-nuclear-power/
Well the woman in the Blackface photo has finally been named by others in the media. She is a very rare bird. An Armenian Jew. Her family is well connected and swims in the second largest lobbying group in North America. Second only to the pro Israel Lobby. As I stated before …. VERY bad optics in that photo. This may well be Justin’s “Monica Lewinski” moment as their relationship becomes more clear to the Canadian public.
Remember when we all thought the low rate days were over? Or when RE was headed down? Lol
Wow! Just wow!. I can’t believe we have these two airheads to choose from to be leader of this great country. I’ve decided to vote for the Green party as they have a lot more integrity and aren’t out to buy votes and line their real estate buddies’ pockets with cash. I fear for the future of Canada, for the future of our grandchildren.
Garth, what about all the other macro factors at play that have been causing real estate price declines (specifically in Vancouver)? Do you think these government policies will be enough to really change the direction the market has been heading?
#25 SunShowers
“All these people moaning about taxes have been deceived by the 1%. It’s not rising government taxes that are gobbling up their share of the pie, it’s rising corporate profits.”
You realize of course that corporate profits are what fund retirement portfolios, both public and private, right? Where do you think the corporate profits go? Into a black hole? They go back to you and me if we have been fortunate enough to invest in profitable companies.
The first half of corporate profits (I’m rounding to 1 significant digit) go straight to the government. The second half in general get dividend out to the shareholders, which is you, me, and everyone else, (assuming they are following Garth’s advice and saving at least something for retirement) where they get taxed yet again.
Getting all hysterical about corporate profits simply indicates a lack of understanding what is going on. The only question there is is what tax rate should each taxpayer pay. Some have more money than others.
There does not need to be any questions about how they got the money. The “invisible hand” of the market takes care of that.
If you don’t want to pay corporate profits, don’t buy goods and services from corporations! Problem solved. You are welcome. I do such good work.
But understand corporate margins need to be high, they have loans to pay, salaries to pay, input materials to buy, investment to make if they want to stay competitive in our ever changing world, and most importantly taxes to pay. A lot of taxes. It is in fact kind of amazing that any corporation has enough money left at the end of the day to pay dividends to the pension funds and individuals that invested in them.
Arguing about things like tax rates, acceptable margins and profits, minimum wages laws, and the like, are just socialist experiments in figuring out how some people can be forced to do all the work while the rest of us watch Netflix.
Imagine a Scout troop out camping. In an actual Scout troop, everyone sets up their own tent, cooks their own dinner, and chops their own firewood, usually with a partner or partners. This is an organization that promotes charity and assisting those in need. Now imagine a Socialist Scout Troop (we’ll call it the SST). When arriving a camp a vote is held to determine which 49% of the troop will have to set up all the tents, cook all the food, and chop all the firewood, whilst the other 51% do nothing. That, my friends, is the best explanation I think I have yet come up with of socialism, but you kind of have to at least gone camping before to understand it. Socialist don’t go camping because they have to set up their own tents and bring their own food. Socialists do not set up their own tents or bring or cook their own food. They certainly don’t chop firewood. Why would they? The fire will be there with or without them, so all they have to do is crowd in. Lots of warm, no work.
Socialists are the people who come to your pot-luck but don’t bring anything.
My Scout example may seem offensive to some, because it is too simple. But it is the fact that if you are not willing to work your garden you won’t be having any vegetables in the fall. Socialism is all about not gardening and getting produce from someone else who did garden. Hey that was even more simple! I am on a roll.
Folks, there is no way to take from some to give to others and end up with more overall. It doesn’t work, you end up with less as those who get taken from try and find away to join the class that gets given to. That is why socialism has always failed everywhere it has been tried.
It has to do with incentives. Incentives are powerful. Whatever you incentivize, you will get more of. If you incentivize work, you will get more work and we all have more stuff. If you incentivize not working we get less working and we all have less stuff. There is no way around it. It is a law of nature. Anyone who has trained a dog before knows this. A pocket full of treats can train a dog to do amazing things. A pocket empty of treats results in an abused dog that hides from its owner.
I never thought I’d see the day when the fringe parties are more appealing than the mainstream ones.
Andrew Scheer lives in taxpayer-funded housing as leader of the opposition. He lived in taxpayer-funded housing when he was Speaker of the house.
Andrew Scheer’s family has 5 kids. All were born since he was first elected as an MP. He makes enough as an MP, and later as Speaker, that is wife could stay home to take care of the kids. Having a driver, and the staff that comes with official residences helps to ease the burden too, I bet.
It’s a good thing that we (taxpayers) can afford to shell out so much to support him and his family.
For most Canadians that I know (those that pay for their own housing) the high cost of housing – and the often higher cost of childcare – has been a significant factor in their decision to raise more than one child – or to even have children at all.
The theme of Scheer’s campaign is that it’s “Time for YOU to get ahead”. Maybe so, but somehow I doubt that you’ll be able to catch up to Mr. Scheer!
My question and I am sure lots more think it, if your going to put yourself out there with opinion about housing and where the economy is going…………..and be wrong, really what credibility do you got as a financial advisor… Sure the blog is great, but the advice sucks.
Dam, what a mess! What is the saddest part is that we/most have succumb to this; turmoiled future ahead! The dam is about to break!!!
Seriously… What is the minimum amount necessary to have you and your team manage a portfolio?
Contact me offline, if you wish. [email protected]. – Garth
I agree with 30, 40, 50 year amortization mortgages but we must be at 6% mortgage rates and 8% annual mortgage payments.
#32 Billy
I’ve followed Scott’s podcasts for a couple of years now, as he has done a “deep dive” into what a layman can understand about climate change (i.e. a non-scientist). He’s been very thorough and and explored every angle.
His podcasts are long, averaging close to an hour and covering a large range of subjects, but they go good with a cigar and a scotch.
He was the first person to expose the “good people” hoax. He exposed the Charlittlevile He’s the one who taught me that it is the people that see things that others don’t who are hallucinating. He is absolutely brilliant. I dare say he has 2 IQ points on Garth, both of them still being geniuses though.
But I think you miss the point of his post. I perhaps understand it more because I have seen the video where he got pissed off about the “Climate Protests”. He actually called it “child abuse”. His point was if we have to fix it, and we can fix it, or at least we know some things to start with, why are we scaring the children??? He was, for Scott, livid, that we were scaring the children. What on earth good is that going to do but create a bunch of neurotic children? His point is spot on. We are working on it and will do our best, so you 12 to 16 year-olds don’t need to go into hysterics. All possible technology we have is being deployed. If that doesn’t work, a bunch of 12-16 year olds being mad, not just mad but driven insane by their adults about it won’t change a thing. It just means they will die angry blaming climate change instead of nuclear bombs for the rapid local warming.
It reminds me of the drills they used to do in the 60’s where kids had to hide under their desk to survive a potential Soviet nuclear attack. The attack never came and the desks were of no use for that purpose.
perhaps the world needs a new blog to discuss the rantings of that poor manipulated ignorant child in new york today.
suggested name? gretafool.com
I think they are goosing the demand for houses because they want to start taxing gains on real estate.
Give with one hand and take with the other.
#37 ah, a little rain on the sunshower, refreshing.
#1 Hugh Jassel
My vote is for the PPC, the one party not promising any market manipulation.
*********
Yes – ideas for the betterment of Canada and Canadians.
As I stated a few days ago (and won’t again Garth, I know this is your forum, not mine) the debate will be the defining moment of the campaign – and the authenticity of Max’s message will shine.
M55BC
Been drinking Vancouver tap water for nearly 18 years now.
I swear sometimes it causes mass hallucinations in this city.
I’m scared one day it will make me hallucinate that the city’s elected officials actually care about me…
M45BC
#40 mark
…Sure the blog is great, but the advice sucks.
Wow, that was rude.
The advice is great on this blog, actually awesome, but you don’t have to take it….lol
Can’t you be an adult and make up your own mind about what to invest in?
#26 akashic record – Please don’t scare me because I just finished my dinner. Well at least you didn’t show the newest photo that has yet to appear yet, and there might be more.
#108 Westcdn on 09.23.19 at 11:36 am
…Seems banks were hoarding US$. From what I understand, players want US$ when scared.
https://www.armstrongeconomics.com/markets-by-sector/interest-rates/the-dollar-shortage-liquidity-crisis/
>Martin Armstrong also wrote that his cash flows analysis from his private database showed that U.S. dollars are flowing to Europe and Asia. This is because they’re hoarding them to deal with their negative interest rate debacle.
If he’s right then the Fed’s problems aren’t over. Greenbacks are going to keep flowing out of the U.S. while Europe and Asia have negative interest rates. The Fed is going to have to keep printing money and injecting it into the U.S. financial system.
This all reminds me of when George W. got on TV in 2002 and suggested that everyone in America should own a home. We all know how that worked out. Here is his speech.
https://www.youtube.com/watch?v=GkAtUq0OJ68
@#38 S BBY
“I never thought I’d see the day when the fringe parties are more appealing than the mainstream ones.”
++++
Alas, Doug Hennings Natural Law Party was wayyyyy ahead of its time……
https://www.youtube.com/watch?v=Dt4cNI4618A
Like we need 7000 more govt employees.
I agree with Scheer; there should be no stress test on existing homeowners renewing their mortgages.
#44 Nonplused #32 Billy
You are both correct! I very much respect that Nonplused mentioned that the kids should focus on all the brilliance and changes that have been made for a cleaner society instead of all of the fictitious no brains that expect us to pay higher carbon taxes while they fly sipping champagne, boat while sunbathing and drinking there asses off, not car pool but throw there empties on the side of the highway, to make us feel guilty; young folks focus on all the positives, test them, ask the hard questions; if they pass, follow them and become greater. Forget about the free loaders that ask for money all the time; invest your wisdom to the one’s who are actually making a difference.
#25 SunShowers on 09.23.19 at 6:00 pm
All these people moaning about taxes have been deceived by the 1%. It’s not rising government taxes that are gobbling up their share of the pie, it’s rising corporate profits.
—————————————
I see you’re back beating the drum about evil corporations, Sunshowers. Why don’t you start a corporation and get some of those sweet profits yourself?
I can tell you corporation profits are sweet indeed. Sometimes I need to decide between a new Hawaii vacation home or a Maserati. If I only didn’t have to pay all those damn salaries and taxes!
Go for it. It’s easy- you’ll quickly discover how easy for yourself. Then we won’t have to listen to you moan.
I’d rather have highly pumped housing than have Justin Trudeau as PM and his blame-culture, social engineering, marxist, identity politics, 1984 BS.
I’ll hold my nose and vote Conservative even though I want to vote for Max. I agree that a vote for Max is one for Trudeau.
#26 akashic record on 09.23.19 at 6:11 pm
Drama teacher meets drama queen.
Justin and Greta could form the Blackface#Redface political activism theater.
https://youtu.be/TMrtLsQbaok
—
If deplorable used language and expressions like this it would be media outrage all day long. Probably such with gene army would be summoned to take their pitchforks away from them. Now that I am rambeling about tragedy, here is a dude who have a same problem with his comment section as aour host.
https://youtu.be/eK0NYCGru-I
While I am on topics of ecology, some time ago I came across this carton of two caveman talking beside fire, and one sad to another.
“I don’t understand we live in pristine environment and yet somehow we can not live past 30…”
#40 mark on 09.23.19 at 7:27 pm
My question and I am sure lots more think it, if your going to put yourself out there with opinion about housing and where the economy is going…………..and be wrong, really what credibility do you got as a financial advisor… Sure the blog is great, but the advice sucks.
———————————–
Good work Mark. Nothing classier than visiting someone’s house and taking a dump on their living room floor.
#39 Smartalox wrote
Andrew Scheer lives in taxpayer-funded housing as leader of the opposition. He lived in taxpayer-funded housing when he was Speaker of the house.
___________________________________________
An brownface lived off his fathers PM pension wealth created from being PM and has a trust fund, Went to McGill, Visits private islands on our dime, Lives in a taxpayer mansion, and is the most sanctimonious you know what I have ever seen.
Next topic
I have the great advantage of living in Lizzie May’s riding. I can vote for Max without the slightest chance of Trudeau winning the seat.
There are plenty of seats in Canada where there is a lop-sided result from the last election which will let people vote for the PPC without any danger of aiding the re-election of the young idiot. These include ridings where there was an overwhelming Liberal victory last time out.
Max will shine in the debates. He will pick up support and, in a few ridings, the PPC may be competitive. But popular vote matters too. If Max can hit 5% nationally, he and the People’s Party will have some political weight going forward.
My preferred outcome is a badly divided minority Conservative win. But I could live with a hamstrung Liberal minority with JT having to reveal his real agenda. Pandering to the house horney is just another reason not to vote for Scheer or JT.
#25 SunShowers on 09.23.19 at 6:00 pm
All these people moaning about taxes have been deceived by the 1%. It’s not rising government taxes that are gobbling up their share of the pie, it’s rising corporate profits.
___________________________
It’s us evil wealthy people that made profit, saved our money, bought assets, and pay taxes which feeds your cheques every two weeks…..
What part of this is challenging for you.
Government is the parasite my friend.
Bolshevism killed millions….
That poor child at the UN today is the victim of child abuse in my opinion.
She should be home playing, instead the forces hellbent on societal destruction have turnedt his beautiful into sadness.
What a shame.
If you parent like this shame on you
We have made huge progress in our society to vut climate affecting processes.
Her parents need to be locked up imho
Great topic!..Loved your first paragraph (you have a way with words :-) )
YeeHaw!
I am a seller of a house and condo in 2020 or 2021, so I can’t wait for whichever idiot is elected! What a bunch if clowns, but I’ll take it!
Now, what I did do say wrong?
Can someone tell me where the housing crash went? I have been looking for years and I just can’t find it.
Ha,ha,ha, just another fake, despicable, phonie, but hey, make sure you vote for her hypocritical views; what a joke!
https://o.canada.com/news/politics/election-2019/green-party-used-photoshop-to-add-reusable-cup-and-metal-straw-to-photo-of-elizabeth-may/wcm/8be727d1-aa46-4cb2-9115-13aec37c53af
Michael: “Every…anyone can see there is a real estate bubble.”
Lawrence “Actually, no one can see a bubble. That’s what makes it a bubble.”
Michael: “That’s dumb, Lawrence. There is always markers. Mortgage fraud has quintupled since 2000 and the average take-home pay is flat, but, uh, home prices are soaring. That means the homes are debt, not assets.”
32 Billy on 09.23.19 at 6:44 pm
#28 Nonplused
Can’t disagree that the MSM doesn’t help, but as much as I’d like to believe Scott Adams – I think he’s out of his depth on these issues. https://www.nytimes.com/2018/02/28/climate/remove-co2-from-air.html
https://thebulletin.org/2019/06/will-nuclear-waste-disposal-challenges-limit-a-significant-expansion-of-global-nuclear-power/
++++++++++++++++++++++++++++++++++++++++++++++++++++++
Nuclear power is absolutely the *only* solution for large scale base-load carbon-free electricity generation. As noted in the Adams’ article, the modern Gen III+ designs are performing quite well.
Renewable energy does not have the density to provide a modern civilization to the current 8B humans on this planet. You want to talk about toxic waste – research what solar panels will be in 25 years when their useful life is over. Ontario has spent 10s of billions on renewable power, and last year it provided about 8% of total generation (7% wind, 1% solar).
The true game changer is Gen IV fast neutron reactors, which can use the spent fuel (nuclear waste) from slow neutron reactors as fuel. It does require some reprocessing, but fast neutron reactors are far more efficient consuming upwards of 95% of the uranium from the fuel bundles. Far less waste and shorter life for the radioactive components (a couple hundred years vs. 1000s).
The only thing holding back accelerating this with more research and testing is…the green lobby…go figure….
If all this talk about neutrons and energy density hurts your head, perhaps you are out of your depth on this conversation…
#64 expat on 09.23.19 at 9:25 pm
That poor child at the UN today is the victim of child abuse in my opinion.
She should be home playing, instead the forces hellbent on societal destruction have turnedt his beautiful into sadness.
What a shame.
If you parent like this shame on you
We have made huge progress in our society to vut climate affecting processes.
Her parents need to be locked up imho
++++++++++++++++++++++++++++++++++++++++++++++++
Yep – her childhood might have been stolen, but it wasn’t by climate change – but rather her parents, teachers and any gov’t departments that coopted her to become a mouth piece for something that at her age she can’t possible comprehend.
Michael fails Accounting and Logic courses?
#70 Sebee on 09.23.19 at 10:28 pm
Michael: “Every…anyone can see there is a real estate bubble.”
Lawrence “Actually, no one can see a bubble. That’s what makes it a bubble.”
Michael: “That’s dumb, Lawrence. There is always markers. Mortgage fraud has quintupled since 2000 and the average take-home pay is flat, but, uh, home prices are soaring. That means the homes are debt, not assets.”
*************************************
As every successful accounting student knows, a house is an asset. The fact that a house may have debt on it does not change the fact that the house itself is an asset. It’s worth money. Whether the owner has net positive equity in the house is another story.
In any case the quote above demonstrates a non-sequitur. A conclusion not justified by the stated premise. A fail in a logic course.
The Housing bubble has been “called” and spotted many many times. But it has popped how many times? Zero? And now, capitulation once again?
The housing bubble seems to be as hard to prove as the existence of the Abominable Snowman (Yeti).
“The stress test was initiated not by the T2 government, but the bank regulator, OSFI.”
In addition, the former conservatives appointed the current head of OSFI….
There seems to be a disconnect regarding the definition of ‘affordable’. As per StatsCan, in 2017 the average Canadian household income was about $46K. I realize that house prices are not insane across Canada but it seems to me that anyone earning an ‘average’ income isn’t going to be able to afford to buy in the most expensive areas regardless of market manipulation by vote buying politicians.
My main issue with the whole situation is when those who make poor fiscal decisions then demand that the rest of us bail them out. The fact our would be leaders are more than willing to assist others commit financial suicide illustrates just how ill suited they are to be our leaders.
#14 Yukon Elvis on 09.23.19 at 5:39 pm
Scheer has to offer free goodies too if he wants to get elected. Who ever offers the most goodies wins. Should be obvious by now. The stress test : could be gone with the stroke of a pen. Told ya. Interest rates as low as possible for as long as possible. Told ya that too. You scoffed. Long term trend for housing is up. Apparently in this day and age, a fair number of people buy a new house (upscale) years prior to retirement with a brand new mortgage.
****************
So let’s play this scenario out ‘Long term trend for housing is up’.
If prices are already unaffordable for those with good wages how far is the possible uptick in prices, before most if not all potential home buyers (who require mortgages) are priced out and turn away in dismay and/or disgust to some extent.
This isn’t ten years ago when house climbed from affordable (two incomes) to unaffordable. We are at peak ownership and peak price vs income vs debt slave forever.
How long have interests rates been low? How long were they high before that? Debt saturation in times of a global slowdown equals pain at some point.
By all means provide another path of reasoning.
Scheer just proved he is Harper lite. 30 year mortgage to gas the market and in debt unassuming first time home buyers. ….holy shit bat man!
So we’re all in agreance on the blog, we’re voting green? Garth you in?
The white dog with the brown face in the picture.
Is he called Trudo?
Is this the first election that politicians make promises that they won’t/can’t keep?????
With great respect, please get back to what you do best and leave all this bull sh*t for a post closer to election day.
#71
Renewable energy does not have the density to provide a modern civilization to the current 8B humans on this planet.
——————————————-
Yep. That’s the crux of it.
Humans are weak on the concept of scalability.
With no progeny, I consider myself to have done my bit.
DELETED
>Here, Smokey. I thought you’d like this. (Have you played a game from Atari? Have you played Atari, today?)
The mysterious origins of an uncrackable video game
By Chris Baraniuk
23 September 2019
…Released in 1982, Entombed was far from a best-seller and today it’s largely forgotten. But recently, a computer scientist and a digital archaeologist decided to pull apart the game’s source code to investigate how it was made…
…Maze-navigating games were very common back in the late 1970s and early 1980s, but the method used to generate a maze varied, depending on the programmer. In the age of Atari, games had to be designed with incredible skill because the computer systems that ran them were so limited…
…Depending on the values of the five-square tile, the table tells the game to deposit either wall, no wall or a random choice between the two.
Lost origins
It seems straightforward, but the thing is, no-one can work out how the table was made.
Aycock and Copplestone have tried retro-engineering the table. They looked for patterns in the values to try and reveal how it was designed, but this was to no avail. Whatever the programmer did, it was a stroke of mild genius. Every time the game is played, a reliably navigable maze is pumped out. Were the table’s values random or even slightly different, the maze would likely fail to be drawn with a playable path through it. It just seems impossible to explain…
…For Aycock, the as-yet unsolved mystery of the table lingers uncomfortably.“The struggle I have as a scientist is, I think that there should be some logical way that this will all make sense and there really doesn’t seem to be.”
The best guess the pair have is that the programmer behind the maze algorithm must have manually fine-tuned the table values until the game worked as desired, but that still doesn’t really explain the logic behind it.
It had been the work of a programmer who developed it while not entirely sober
During their research, Aycock and Copplestone were able to interview one of the people involved in the game’s production, Steve Sidley.
He too remembered being confused by the table at the time. “I couldn’t unscramble it,” he told the researchers. And he claimed it had been the work of a programmer who developed it while not entirely sober: “He told me it came upon him when he was drunk and whacked out of his brain.” Aycock tried to contact the programmer in question but got no response.
Maybe no-one ever really understood the logic of the algorithm. But there it is, in a 1982 Atari game, posing a seemingly unanswerable question….
http://www.bbc.com/future/story/20190919-the-maze-puzzle-hidden-within-an-early-video-game
#68
Look at Calgary and Edmonton
#59 NoName on 09.23.19 at 9:09 pm
“If deplorable used language and expressions like this it would be media outrage all day long.”
—————————————-
That’s what is happening now in the media, just read the comments here: all about JT’s blackface. If I were a betting man, I’d put my money on conservatives commentators continuously keeping this “scandal” alive both on this board and on the MSM.
They aren’t silenced nor persecuted.
I can only wonder what the Five Sisters think about Scheer’s plan: secretly, they love the B-20.
I was talking to friend of mine about place caps glaciers and other ice melting due to global warming.
What is interesting I went to gargler and did some research, mediocre of course, and I started comparing, climate science to geological sciences.
Funny enough all those area that are getting flooded because of global warming are already naturally sinking. Some places as 10 inches per year, for nothing to do with ocean levels…
Anyways interesting read
https://wattsupwiththat.com/2018/12/28/currys-sea-level-rise-study-disputes-climate-disaster-predictions-in-many-cases-half-of-the-sea-level-rise-is-really-from-land-sinking/
Big jump in house buying and deficit spending, just as a serious recession hit? Perfect timing.
https://finance.yahoo.com/news/worlds-wealthiest-families-stockpiling-cash-230100054.html
This should be interesting. I’m talking a recession in Canada, not the United States. The people attempting to use the leftist media to create a recession are all doing it for political reasons. The media push doesn’t recognize fundamentals, it’s all Trump Hate.
So, where are investors on this? Investing with both hands. Companies are profitable and buying back shares like never before. I don’t pity the Trump Haters. Confirmation Bias is an urgent driver in weak minds. I don’t have Cher’s phone number, but if Trump is causing you sleeplessness and raging anxiety, head to LA.
I know this is kicking Liberal aopolgists right in the nutz but Canadian tax payers should be aware, very aware, that thousands of businesses are flooding out of the country, and foreign investment is dead.
https://www.bnnbloomberg.ca/it-s-on-kenney-vows-to-counter-texas-efforts-to-lure-canadian-companies-south-1.1320649
I certainly wasn’t the first expat to jump the border more than five years ago for greener pastures because like many we saw the writing on the wall when the crowd was leaning towards a change in government. When it happened as predicted even we, hardened analysts were shocked by the Liberal rage that attacked Alberta energy.
But, there you go, that’s why the smart money gets paid more for paying attention. Direct flights to Dallas are packed well in advance. The US Borders guys literally haul you over the counter when you mention energy and infrastructure evelopment expwrtise. “Welcome Home”, I get when I show up, as if these guys are individually trained to be nice to certain people.
Texas is crazy good. I pity the young engineer who’s working at Home Depot to pay rent while waiting for AB to recover. Trudeau said, it’s being “phased out”. Do you need a beating to help you understand?
Kenney is too late to fight this, at this point in the cycle. A generation will pass the next decade in poverty because the Brainwashing dissipates. Meanwhile young guys and girls are buying mansions in Texas for $350 a pop and driving beautiful new Camaros, like mine.
Trudeaus Carpet Bagger bosses were very effective killing energy in Canada. They’re killing our jobs and selling us useless windmills. It’s a bad joke. But the jokes on you if you don’t smarten up and get out.
#72 PastThePeak on 09.23.19 at 10:39 pm
…that at her age she can’t possible comprehend.
So, by your logic, wisdom comes only from the aging process? Then explain, please, some of the decisions made in recent years by the greybeards among us at all levels of government.
Young women like Greta and Malalah will be voices heard in years to come and if what they say is uncomfortable to hear then they have done their jobs well.
F72ON
#73 Shawn Allen
So what you’re saying is that in Canada average income has grown to justify the price escalation? 17× average income for published average detached makes sense? And the country is not loaded up on debt at levels and ratios never before seen? What is it 177%? Basket case levels?
#63 expat on 09.23.19 at 9:21 pm
“What part of this is challenging for you.
Government is the parasite my friend.”
-How about we talk about how “you” wealthy people should have seen all your “assets” and “savings” reduced to rubble in 2008 if not for the big bad government spending Trillions of taxpayer money to save you from the abyss?
MF
Ohoh shades of USA mid-2000s?
Who would like to be buying Kanadian FIXED rate UNinsured Mortgage backed securities from Home Crapital Corp. Go blog dog Poloz.
Our boys running this country are bankers boys. Never forget.
“2019-09-24 07:16 ET – In the News
The Globe and Mail reports in its Tuesday edition that Home Capital Group has priced its first offering of residential mortgage-backed securities. The Globe’s James Bradshaw writes that Home Capital is selling $425-million of securities comprised of uninsured, fixed-rate mortgages as part of a broader move to become less reliant on raising deposits to fund its loans. Mortgage-backed securities allow lenders to package loans and sell them to investors, then use the proceeds to issue more mortgages. While about 15 per cent of Canadian mortgage debt is pooled in government-backed mortgage securities, only insured loans are eligible. With uninsured mortgages becoming more common, Bank of Canada Governor Stephen Poloz called on lenders to develop a private market for residential mortgage-backed securities (RMBS), which could provide a new tool to fund some of their loans. Home Capital is planning a sustained push into RMBS made up of uninsured loans, and this first issue could serve as a litmus test for investors’ appetite. If market conditions remain favourable, Home Capital would consider making follow-on offerings as often as twice a year, and RMBS could eventually provide as much as 10 per cent of its funding.
© 2019 Canjex Publishing Ltd. All rights reserved”
#86 NoName – Google, the smartest company in the world, possibly a front company but hey who cares, by virture of their A.I. learning every tick, is building their SmartCity in Toronto right on the waterfront. I mean right on it, beside a disused shipping channel. Could not be closer to water levels.
And they are using Wood for the kandos’ main material. I guess it works on paper but give me steel and concrete plz.
#89 LP on 09.24.19 at 6:38 am
#72 PastThePeak on 09.23.19 at 10:39 pm
…that at her age she can’t possible comprehend.
So, by your logic, wisdom comes only from the aging process? Then explain, please, some of the decisions made in recent years by the greybeards among us at all levels of government.
Young women like Greta and Malalah will be voices heard in years to come and if what they say is uncomfortable to hear then they have done their jobs well.
F72ON
—
There is a huge difference between Malala Yousafzai and Greta Thunberg.
While one is trying to empower women other one isnt.
At least out of respect to Malala teach yourself how to spell her name correctly.
@#89 LP
I rather enjoyed watching the kid at the UN shaking with barely contained fury at the hypocrisy surrounding her.
The look on her face when Trump walked by was priceless.
Her very short, direct and eviscerating speech was a punch in the gut to all the “leaders” and bureaucrats wasting billions of dollars and years of talk..
Lets ban all plastic, ban all gas and diesel cars, boats, planes, etc. , implement a one child policy world wide,…..and maybe, maybe in 200 years we might crawl out of this environmental mess with half the wildlife of today…….
Lets see how many multinational corporations line up to offer her millions to be their “green” spokesperson…
Proving once again that….. everyone,eventually,…. has a price.
#94 NoName on 09.24.19 at 8:17 am
At least out of respect to Malala teach yourself how to spell her name correctly.
Point taken, the ‘h’ was a spur of the moment, last ditch attempt; should have looked it up. Now, how shall I spell your name?
So by increasing the incentive to buy, dropping financing barriers and giving first-timers new tools (longer amortizations, shared loans) it seems no matter who wins on October 21st, real estate demand will be goosed. Higher prices seem certain. – Garth
——————————————————————–
Boomers with 35 year old GTA houses win again.
It’s a magical generation.
94 NoName on 09.24.19 at 8:17 am
#89 LP on 09.24.19 at 6:38 am
#72 PastThePeak on 09.23.19 at 10:39 pm
…that at her age she can’t possible comprehend.
So, by your logic, wisdom comes only from the aging process? Then explain, please, some of the decisions made in recent years by the greybeards among us at all levels of government.
Young women like Greta and Malalah will be voices heard in years to come and if what they say is uncomfortable to hear then they have done their jobs well.
F72ON
—
There is a huge difference between Malala Yousafzai and Greta Thunberg.
While one is trying to empower women other one isnt.
At least out of respect to Malala teach yourself how to spell her name correctly.
___________________________________________
My ten year old daughter watched Greta yesterday after school and said she wants to help prevent climate change as well. So Greta does have an impact! You know that our children are the ones who will blame us for not taking action. Greta is correct with the lack of action and hollow words. Balance is needed to ease away from fossil fuels and keep cO2 levels from spiking artificially higher on the planet. I will not be here in 100 or 200 years so who among us is also going to be here to take responsibility for it. The answer is not one of us. The children and grandchildren will have to deal with the consequences of our actions or lack therefor of. The present-day leaders are gutless spineless yes men and the spin doctors on anti-climate change are vile. Not to say that all science is accurate at the time any document is created. As technology advances previous reports need to be reviewed and vetted out for inaccuracy. At one time we used Dichlorodiphenyltrichloroethane (DDT) as an insecticide with wild abandon. The inventor won the Noble peace price for its creation and it saved countless millions of lives by preventing malaria and typhus. However we only learned decades after of the evil carcinogenic effects of it and nearly wiped out many species including the symbol of the United States the Bald Eagle. Science had to catch up and take action and that is why it was banned. Time will tell with everything. As for Malala you are correct she is trying to empower woman while Greta is trying to save the planet. Two young woman both following their principles and convictions. Both are important.
#30 joblo on 09.23.19 at 6:25 pm
Hey where’s the Uppa Uppa Uppa guy?
—————————————-
You rang?
I was apparently banned some time ago. Never said anything racist or xenophobic. Never got a “deleted” or a “banned”, just wouldn’t let my posts go through.
I guess Garth thinks I’m solely a house pumper (i’m not) and that makes me worse than a racist or xenophobe.
Not sure this post will even make it, but in case it does…
uppa, Uppa, UPPA!!!!!!!!
Everyone loves to be justifiably wronged, and teenagers even more so. To operate with absolute righteousness against ‘big evil’ is the most perfect path. All kids’ stories are black and white that way; only later do the gray areas appear.
A tolerant chuckle, polite applause, and back to business as usual. Youth know everything for awhile.
Trump destroyed the globalists today at the UN.
What an in your face speech.
37 nonplused… first of all, you’re an intellectual infant, so I don’t know why I’m bothering to respond to you. You’re like what, 87 years old, have run multiple companies, and still have zero conception of what socialism is? If only because of the blatant stereotypes in your idea of what socialism is and that continue to perpetuate this blog undeterred by any correction from Garth for some reasons which I don’t understand except that maybe he is sick of dealing with it…
I am a socialist. I work hard to provide for others including my family. Socialism doesn’t mean people don’t want to work. Get off your high horse for a moment if that is even possible. Not everyone can work or earn income. Anyway, pure capitalism doesn’t work out at all. Go to Mogadishu and see what pure capitalism is. You obviously have not been to anywhere else except Alberta. Try opening a book and reading it. Or don’t, it’s entirely up to you, I don’t give a shcare what you do. The “socialist experiment” we call Canada will continue to prosper whether you choose to understand it or not. Tell me, in its 152-year history of socialism, has Canada failed? If not, then you are wrong. Period. Full Stop.
So What You’Re Saying Is:
#90 Sebee on 09.24.19 at 7:56 am
#73 Shawn Allen
So what you’re saying is that in Canada average income has grown to justify the price escalation? 17× average income for published average detached makes sense? And the country is not loaded up on debt at levels and ratios never before seen? What is it 177%? Basket case levels?
*******************************
Whenever someone says, “so what your’re saying is” you know what follows will NOT be anything you said.
In this case not any passing resemblance. I simply pointed out at 73 that Seebee does not understand that an asset an asset remains an asset even when there is debt. The two are separate things. And I pointed out the logic fail in his or her claim.
For the record the “analysis” here ignores the far lower interest rate. But I am not stating any opinion at all on house prices. It’s the poor and incomplete logic that bothers me. Also now the bizzarre and total misrepresentation of what I actually said.
#63 expat… you must be “self-edumacated”. They obviously don’t teach actual history in Alberta? bolshevism killed millions? really? how do you let such ignorance run rampant on here garth? ideas don’t kill people, people kill people. Sail Away, I am sorely disappointed in your comments today. Assuming that sunshowers (or I) don’t own multiple corporations ourselves? Think again. Or don’t, I don’t really care. I just want to point out that you are wrong wrong wrong.
RE in this country is a pipe bomb waiting to blow. If I were a kid again right now just entering the work force – I’d be avoiding RE like the plague and be thinking way outside the box on the lifestyle front. If owning RE means giving half (or more) my take home to the bank for 25-30 bloody years – FORGET ABOUT IT. I could find other ways/places to live.
These days, I occasionally think about moving up – but after looking at what kind of place that would lure me – and the cost thereof, all the fees involved in the transaction, and then the INSANE taxes, it leaves a bad taste in my mouth.
That’s coming from a guy who bought “dirt cheap”, owns free and clear, and rode the equity ladder all the way to the top.
I can’t imagine where a regular fellow’s head needs to be to consider mortgaging up nearly for life on a sh!tbox crap pile dump in the GRVD/GTA.
#22 Tater on 09.23.19 at 5:55 pm
#132 n1tro on 09.23.19 at 3:42 pm
————
I’m not a conservative party dude. Nice explanation regardless. Maybe you should explain it to Trudeau (your hero?) because his understanding is more…’hey, spend a ton of tax payer’s money on shit that drives big businesses out of Canada, attack small business people as tax cheats, while making the cost of living through carbon taxes higher will “grow” the economy.
Regardless if Trudeau knew of your definition of how the budget will balance itself or was just mumbling something incoherent because he doesn’t understand the subject matter, tell me if the budget did balance or are we just going to give him a pass because he just tried his best?
——————————————
Don’t recall calling you a conservative. Just pointing out that for anyone with a basic grasp of current orthodox economic thought, the full statement isn’t dumb at all.
And if the carbon tax affects your standard of living, it wasn’t very high to begin with.
———-
Implying someone doesn’t understand the liberal meaning of a statement and then explaining it in a conservative reword implies you are calling someone a conservative. A stupid one at that. As for being affected by the carbon tax or not, it doesn’t change the topic regarding the things that Trudeau has brought in which hasn’t made the budget balance itself (regardless of the interpretation or definition of what he said).
James, you are mixing up the concept of climate change with the problem of chemical pollution. They are not directly related but perhaps distantly related. People often make this mistake. It wasn’t science or scientists that raised alarms about chemical pollution, as that goes on unabated this very moment. It’s the other concept, the climate change nonsense that “scientists” in bed with their corporate masters are eager to exploit for their paycheques.
When was the last time a politician kept a campaign promise?
Trudeau promised that the budget would balance itself for cripes sake.
I wouldn’t worry about any of this.
It’s a lot of hot air
The problem is that every four years, the politicians give away more stuff in order to win the election. So, we become increasingly socialist and indebted. I honestly would have voted for Trudeau if he had said, “I’ll keep trying to get the pipeline through, try to make marijuana profitable, and keep everything else as is.”
I am so disappointed that the PM cancelled the Monk debate on Foreign Policy.
https://www.youtube.com/watch?v=DAYyMIZNxfM
#89 LP on 09.24.19 at 6:38 am
#72 PastThePeak on 09.23.19 at 10:39 pm
…that at her age she can’t possible comprehend.
So, by your logic, wisdom comes only from the aging process? Then explain, please, some of the decisions made in recent years by the greybeards among us at all levels of government.
Young women like Greta and Malalah will be voices heard in years to come and if what they say is uncomfortable to hear then they have done their jobs well.
F72ON
———–
Experience (and sometimes wisdom) is gained with age. Greta is regurgitating misinformation that some adults have told her. Just like Emma Watson spouting about gender pay gap a few years back when her only experience with regards to the subject had been working in the Harry Potter movies.
As for Malalah, knowingly getting on a bus to go to school in a region with ass backwards thinking about the education women and girls and getting shot in the face and surviving is the opposite of wisdom. Bravery, yes. Smart, not so much.
The voices in your head of young girls may be something else more troubling for another blog. :)
#53 Ronaldo on 09.23.19 at 8:08 pm
This all reminds me of when George W. got on TV in 2002 and suggested that everyone in America should own a home. We all know how that worked out. Here is his speech.
https://www.youtube.com/watch?v=GkAtUq0OJ68
_ _ _
Yep and now we have Home Capital issuing mortgage backed securities in Canada. Straight out of the playbook leading up to the 2008 Recession. Those who forget the past are doomed to repeat it.
#107 Eks dee Siple on 09.24.19 at 11:10 am
James, you are mixing up the concept of climate change with the problem of chemical pollution. They are not directly related but perhaps distantly related. People often make this mistake. It wasn’t science or scientists that raised alarms about chemical pollution, as that goes on unabated this very moment. It’s the other concept, the climate change nonsense that “scientists” in bed with their corporate masters are eager to exploit for their paycheques.
________________________________________
Not at all!
It was an example of how science is constantly updated and improved upon. DDT was once great. Scientists and for that matter the world thought it was a huge panacea for the woes of transmittable diseases via insects. It turns out that it had hidden dire hideous consequences and that only improved science and studies could unravel at a later date.
Not related to climate but an example of how science is not always correct at a given point in time. Time is the deciding factor in conclusive scientific discoveries.
“We are in the beginning of a mass extinction. And all you can talk about is money and fairy tales of eternal economic growth. How dare you!” — Greta Thunberg
Can’t believe how many people are dissing this courageous and absolutely correct girl.
#48 VicPaul on 09.23.19 at 7:51 pm
– and the authenticity of Max’s message will shine…
—————————————
Oh, I don’t think there’s any doubt here that what Max says is the real unfiltered Max…
#104 Eks dee Siple on 09.24.19 at 11:01 am
Sail Away, I am very happy with your comments today.
———————————————-
Thanks Eks- I appreciate the vote of confidence! I rewrote your comment, since you clearly made a mistake.
stocks showing some bad cracks.
this overnight fed thing is getting worse, spooky?
105b today . ouch.
pray for no landslide, unless in cash;)
Personal exemption limit at 15k benefits the “rich” doesn’t it? sort of like a 10k TFSA limit… I guess Mr. Blackface needs to figure things out a little …. good old socialism… let’s make mediocrity what we aspire to.
“…first the Trudeau Libs announced yet another tax decrease, this one worth $6 billion as the basic personal exemption is raised to $15,000.”
Over a span of about 3 years – just in time for a new round of campaign promises.
reuse the left over goo
https://en.wikipedia.org/wiki/TerraPower
Environmental effects
By using depleted uranium as fuel, the new reactor type could reduce stockpiles from uranium enrichment.[8] TerraPower notes that the US hosts 700,000 metric tons of depleted uranium and that 8 metric tons could power 2.5 million homes for a year.[9] Some reports claim that the high fuel efficiency of TWRs, combined with the ability to use uranium recovered from river or sea water, means enough fuel is available to generate electricity for 10 billion people at US per capita consumption levels for million-year time-scales.[10
RPT-UPDATE 3-Mitsubishi says Singapore-based oil trader lost $320 mln in unauthorised trades
Nick Corasaniti Matthew Haag
==============================
How One Address Led to a $100 Million Tax Credit Scheme
To get the credits, 12 companies all threatened to leave New Jersey for the same office complex in New York. None followed through.
https://www.nytimes.com/2019/09/24/nyregion/nj-tax-break.html?action=click&module=Latest&pgtype=Homepage
#114 – sounds like Greta has been indoctrinated and terrorized. Shame on the adults.
#104 Eks dee Siple on 09.24.19 at 11:01 am
#63 expat… you must be “self-edumacated”. They obviously don’t teach actual history in Alberta? bolshevism killed millions? really? how do you let such ignorance run rampant on here garth?
____
Lenin was calling for violent reprisals by the red army, peasants, and proletariat every other page he wrote. It is well documented how he was totally opposed to non-violent change. Often the Mensheviks would oppose the violence option suggested by Lenin – but Lenin always came back to it – and he eventually got it too – which led directly to the Red Terror. To him, if the “bourgeois” did not see members of their own hanging from a tree – the stability and security of their government could never be assured.
Lenin’s policies (eg. ‘war communism”) during the Famine of 1921 greatly increased the number of deaths which ended up being ~5 million. Millions more would have died if it was not for intervention by the USA.
Lenin’s hands are just soaked in blood and death. The Red Terror (over 100,000 dead), forming the cheka, (up to a million dead by these friendly government folks). Millions more in the Famine.
Stalin (also a Bolshevik) killed Millions and millions and millions. Up to 7 million – probably a LOT more.
The Bolshevik/Communist/Socialist call ’em what you want lunatic leadership of Russia circa the early 1900’s just loved red – especially in liquid form.
DELETED
#37 Nonplused on 09.23.19 at 7:09 pm
You seem to have your analogy backwards. This is very common. You see, it is actually the workers, 99% of the scout troop who do all the cooking, pitch all the tents, and chop all the firewood. The scout master, the capitalist, does none of these things. He does very little work (if any at all), and yet still benefits from his own sloth by selling to others the value produced by his scout troop’s work.
#57 Sail Away on 09.23.19 at 8:39 pm
“Why can’t poor people just buy more money?”
#63 expat on 09.23.19 at 9:21 pm
Capitalism has killed millions more than Bolshevism, Socialism, Communism, or any any other -ism.
Right now, we have the resources to ensure EVERYONE on earth has medicine, shelter, clean water, and enough food to eat. So why are people starving in the developing world while 30% of all produce rots on the shelves in North America? Because giving food and water to poor people isn’t profitable. So we let them die, and blame circumstance or personal failings.
Every single person on earth who has died from malnutrition in the last decade: Killed by capitalism
Every single person on earth who has died from a preventable/treatable disease in the last decade: Killed by capitalism
Every single homeless person on earth who has died of exposure in the last decade: Killed by capitalism
Add the numbers up. Do it.
@ #30
And (I must have missed something) – what about Happy Housing Crash guy? :-)
FEAR is the new currency – and our species cannot stop itself from careening off the cliff – “gossip” is a key element of being a Homo sapien and we are using that skill at an outrageous extent in part from the creation of technology- epic times for sure
#36 – what will Ross Kay have to say about it tonight on Howestreet.com
Thanks Eks- I appreciate the vote of confidence! I rewrote your comment, since you clearly made a mistake.
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I clearly did. I’ll let you children play with your toys.
Hi James – In that case, I agree with you. And as a scientist/inventor/entrepreneur/socialist, I can tell you that science never catches up. Science is a tool hijacked by the multinational corporations and anybody who dares question the prevailing paradigms is labeled a “conspiracy nut” or something similar. I believe the term “paradigm shift” was coined by Thomas Kuhn who also wrote: “Normal science does not aim at novelty but at clearing up the status quo. It tends to discover what it expects to discover.” Ring a bell, Shawn Allen? Or a light bulb?
Read this: https://www.theguardian.com/science/2012/aug/19/thomas-kuhn-structure-scientific-revolutions
I could go on but I shouldn’t otherwise some CSIS dude might piece together my real identity by matching my words with something I wrote in some publication somewhere… why do you think my posts are yellow? They literally have to highlight my web presence to make it easier to track me. Oh wait, I forgot, you folks don’t believe in conspiracies…
#126 maxx on 09.24.19 at 1:12 pm
@ #30
And (I must have missed something) – what about Happy Housing Crash guy? :-)
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Ah yes, my nemesis. I too wonder where he has gone. Perhaps he’s busy renovating his new house … ?
Itchy, I expected a response from you and it was a good one. Congrats. Okay, I have actually lived under communist rule. They can take your house, your car, your children, your possessions at any time. Your life, that of your family members, life has no value to these monsters. There are communists in our Canadian government, masked as regular folks. These are evil people. They answer to the Crown, just as Lenin did.
I bet you did not know that part… But to confuse them with socialists is an embarrassment to intelligence.
Early Monday morning downtown Toronto someone plastered large well made posters stating
In Greta We Trust.
Her face superimposed over a church saint body.
You know that outdated oppressive and patriarchal church thing.
Anyway who is paying for this global campaign for our minds?
I’d give my eye teeth to know how Garth will vote.
“Paypal generation of political leaders” is yet another gem.
For all of you debating bolshevism and whether we are getting close to this in Canada please give your head a shake. The word “socialism” seems to drag out some pretty extreme views on this blog, and triggers rants on Lenin, Stalin, and Cuba. Moreover, Mogadishu is anarchy, not capitalism. Just because some of us would prefer to live in a society with strong social programs and social responsibility, such as in Scandanavia, Holland, and Denmark, does not mean we “socialists” want to queue up for hours to get our daily rations of turnip and cabbage.
I can’t afford to buy and with the cost of rentals increasing by the minute (Been in my building for 10 years. The rent has gone up 10 times.) now I almost can’t afford to rent either. Good times in the Maritimes.
“why do you think my posts are yellow? They literally have to highlight my web presence to make it easier to track me.”
This comment will never be bested. Game over.
#126 maxx on 09.24.19 at 1:12 pm
@ #30
And (I must have missed something) – what about Happy Housing Crash guy? :-)
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Was he the “shyster” dude?
#133 Barb on 09.24.19 at 2:15 pm
I’d give my eye teeth to know how Garth will vote.
“Paypal generation of political leaders” is yet another gem.
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My, guess Conservatives he may need to hold his nose a little but what else is there.
#30 Joblo
Ima here and hava been a listena to alla da house horny people ona dis blog ,tella everybody elsa why da prica ofa da house she’sa gonna go downa.
Ona ting isa for sure . I beena tella everybody here to keepa buy a da real estate alla along. Nonna maka alotta moneta ina da real estate alla des a years anda my stupido grandson Bigrider, he keepa tella me da prica too high because he read a here and a der anda everywhere.
My father many many years ago tella me “believe only half a whata you see and none a whatta you hear” .
Real estata ina Toronto isa lika God to a the nuns.
Nobody gonna touch, nobody gonna hurt.
#99-Captain Uppa on 09.24.19 at 10:00 am
#30 joblo on 09.23.19 at 6:25 pm
Hey where’s the Uppa Uppa Uppa guy?
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You rang?
I was apparently banned some time ago. Never said anything racist or xenophobic. Never got a “deleted” or a “banned”, just wouldn’t let my posts go through.
I guess Garth thinks I’m solely a house pumper (i’m not) and that makes me worse than a racist or xenophobe.
Not sure this post will even make it, but in case it does…
uppa, Uppa, UPPA
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Who isa dis a-hole trya to taka my uppa Uppa UPPA lika he make it ‘uppa’
Dis guy he knows he is lika da guy ona da street with a white face, black cothes and no speak just mova his hands and prentd something isa there.
Can I colour change too?
#132 TurnerNation on 09.24.19 at 1:58 pm
Early Monday morning downtown Toronto someone plastered large well made posters stating
In Greta We Trust.
Her face superimposed over a church saint body.
You know that outdated oppressive and patriarchal church thing.
Anyway who is paying for this global campaign for our minds?
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Yes, climate change is the west’s new religion. Greta is its Joan of Arc.
Expect major fallout if you question the accepted religion of the day.
This too shall pass… eventually…
re #76 Linda on 09.24.19 at 12:01 am
excellent post. Thanks.
#125 SunShowers on 09.24.19 at 1:04 pm
Every single person on earth who has died from malnutrition in the last decade: Killed by capitalism
Every single person on earth who has died from a preventable/treatable disease in the last decade: Killed by capitalism
Every single homeless person on earth who has died of exposure in the last decade: Killed by capitalism
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SunShowers, with all this homicide occurring, it’s obvious a revolution is overdue. I nominate you as leader. Time for you to take action unless all you intend to do is talk.
#125 SunShowers
Huh, what about those capitalist who have set up foundations, donated billions to make sure kids are inoculated, fed, educated, clothed etc. Get your facts right! For example the Gates Foundation!! Seriously you people just cannot see through your lies!!