Uppa

Was it just days ago that deplorables in the steerage section guffawed the suggestion rates might be going up? No respect. The beatings, as they say, will therefore continue until morale improves.

Well, guess what? Everything may be changing. And your hero, Trump the Munificent, is the guy to blame.

Forget the inverted yield curve. Forget the recession. Forget a stock market correction. We’re goin’ to Mars with Elon and Donald. Oh, and that Xi dude. Money is on the move. Out of bonds. Into equities. Risk on.

As you know, that sexy US Commerce Secretary, Wilbur Ross, has indicated ‘phase one’ of a US-China trade deal is nearly ready to ink. Expect a big signing ceremony. Washington is letting tech companies deal with Huawei again. Beijing will be Hoovering up a mess of American agricultural products (including ours). Tariffs slated to become effective next month will be waived. This is the beginning of a pre-2020 electoral charm offensive the American president will use to ensure roaring markets, full employment and steady GDP growth into next year.

Assets are responding. Naturally. This is a big deal for the global economy, ensuring more growth, less protectionism, reduced trading costs, enhanced profitability – and no recession. In reaction the yield curve is flaccid no longer, but stiffening nicely.

Says one Wall Street analyst: “Brexit, impeachment, budget deficit, lack of a budget — none of those things are affecting the market at this point. … How quickly you resumed higher rates and how quickly the curve is steepening out tells me the trend is changing, and we’re moving to a very large trend higher in interest rates.”

Already happening. Bond yields have moved up since the trade announcement. Meanwhile the Fed – although it nipped its key rate another quarter point just days ago – clearly signaled it wants to pause. The cuts so far (three of them) were insurance against a potential slowing of the economy if the trade war continued. Now, if Ross is truthy, the insurance is not required. In fact more economic growth, more inflation, lower employment, wage demands and record equity market levels may lead to a Fed tightening. As stated here a few days ago, this will also make our guys at the Bank of Beavers look like clairvoyants for having resisted the urge to make money cheaper.

It means US 10-year bonds, which plunged in yield to the 1.4% level during the summer (lower than what short-term debt was paying – hence the ‘inverted’ yield) are on their way back to the 2% range. Now add in the solid jobs gains the US announced last week – despite the big GM strike – and it shows the economy is alive and kicking. This even has oil ticking higher, as Mr. Market looks at the America-China deal as a big unwinding of the populism and nationalism that just months ago seemed dire.

Sorry, Trumpers. Your guy just pivoted. But we knew he would.

Anyway, whazzit mean?

Well, CBs never really wanted to reduce rates, but the Trump-Xi war scared them into it. The bankers would love to have the cost of money normalize so debt growth can be contained while giving them real ammo to deal with the next recession. Rates are too close to zero and need to increase simply in the name of risk management. (Dropping them adds stimulus, and is the CBs’ main monetary tool for shortening and shallowing contractions. Like in 2009.)

Rates will rise, not fall, if protectionist sentiment gives way again to trade deals. The forces of globalism will win, since human wealth depends on its success. MAGA, Brexit, Wexit etc. are fun attempts to blow stuff up and see what happens, but they’ll be swept asunder by corporate internationalism. You think you can stand in the way of Jeff Bezos? Good luck with that.

Anyway, if you’re gambling on rate declines by borrowing short or with a variable-rate loan, this might not end well. Five-year fixed-rate mortgages are incredibly cheap at 2.5-3% and provide a lot of security.

But how about a 10-year mortgage? There was an interesting argument in favour of the decade-loan loan published on one of the mortgage-humping sites this week (RateSpy). The difference between a fiver and a ten is so small at the moment (less than half a point) that this is a very viable option for anyone wanting to know what they’ll be having for breakfast in 2028. It’s worth noting, as well, that 10-year mortgages under the Canada Interest Act become open loans after five years. They can be paid off at any time in the second half of their lives with a simple three-month interest penalty.

The downside of a 10-year is you’ll pay a bit of a premium for the first half over a conventional five-year loan. But you’ve purchased protection for the next five. There’s little doubt, when you think about it, that rates will be higher in the future – since we’ve been sitting at historic lows for most of a decade. More global growth is a certainty. Technological advance is guaranteed. And huge sums will be required over the next decade to deal with rapidly-changing demographics, the AI revolution and, yeah, climate change. If you doubt where we’re headed, just spend tonight watching TikTok. Your life will change.

128 comments ↓

#1 yorkville renter on 11.06.19 at 5:18 pm

Anyone know who has the best commercial mortgage rates?

#2 calgary rip off on 11.06.19 at 5:19 pm

Interesting post.

Here in Alberta Kenney has no plan to keep things from not stopping. Just the oil pipeline. Question is, when will the money run out? And there is no plan for a provincial tax. Right now the plan is to jack up tuition for university and at the local level raise the mortgage or home ownership tax. All while cutting jobs.

There seems to be no backup industry other than oil and gas in Alberta. And yet the delusion that subzero prairies have any inherent value. As if it is different here than Siberian Russia.

#3 Mr Fundamental on 11.06.19 at 5:27 pm

If interest rates are going higher in the future, is that a bad thing for bonds that are owned now? Would it make more sense to buy equities now, and then buy bonds once interest rates aren’t at all-time lows? Maybe 4% if they can ever get there.

Cheers

Stop bopping around trying to time the market. Not very fundamental of you. – Garth

#4 The Wet One on 11.06.19 at 5:28 pm

Yay!

Markets going up and I’m getting wealthier.

Woo hoo!!!

#5 Shawn Allen on 11.06.19 at 5:29 pm

Affordable 10 year mortgage rates? Minimal premium to 5 year?

Hurray. Good insurance for those with large mortgages who could not afford a big jump in rates.

#6 Quid Pro Quo Schmo on 11.06.19 at 5:32 pm

My boss pays me for my work. Is that a Quid Pro Quo? If he didn’t pay me I wouldn’t work, and if I didn’t work he wouldn’t pay me.

Also I went to McD’s for lunch today. I had to PAY the lady at the first window before I got my Big Mac at the second.

Another Quid Pro Quo.

Near as I can tell, every human interaction is a Quid Pro Quo. Can someone explain one that isn’t?

#7 Duffy on 11.06.19 at 5:34 pm

Taking risks are relative, we can all play the guitar and sound pretty good, it’s just when we put the strings back on that things go south.

#8 Shawn Allen on 11.06.19 at 5:36 pm

Alberta Economy?

#2 calgary rip off on 11.06.19 at 5:19 pm said:

There seems to be no backup industry other than oil and gas in Alberta. And yet the delusion that subzero prairies have any inherent value. As if it is different here than Siberian Russia.

********************************
Agreed. If oil business continues, Alberta can probably continue to grow a little based on overflow of people from Toronto and Vancouver.

Some businesses can re-locate to Albert to get lower housing and office space costs. As long as it remains part of Canada, that is.

Imagine Alberta on its own and if oil and gas really do decline? Then there would be nothing to keep it from shrinking.

Do we really think Alberta can sustain on exporting solar or wind energy? There are hardly even any transmission lines out of the province to do it. (Minimal capacity out). And does Alberta really have much competitive advantage in wind and solar over other areas?

#9 David Pylyp on 11.06.19 at 5:36 pm

Toronto just released the stats
http://www.trebhome.com/hlfiles/pdf/MarketWatch_infographic.pdf
Inventory down 9.6%
Prices holding

Rents down slightly

Now after the election things will ramp up with cheap money on the horizon.

Full Steam Ahead!

David Pylyp
Toronto

#10 Shawn Allen on 11.06.19 at 5:51 pm

Canada Pension Plan Nonsense

#98 not 1st on 11.06.19 at 3:57 pm
#97 Shawn Allen on 11.06.19 at 2:27 pm
—-

Better do a little research because AB contributes higher proportionally to the CPP because of its younger demographic and higher per capita earnings.

Wow are Canadians ever in the dark about how their country really runs.

Here is another shocker for you, Western provinces own a smaller per capita share of the national debt than does Ont and Quebec.

******************
Thanks for the response.

Albertans (I have been one for 30 years) are not on some sort of team Alberta economically. We are individuals.

Alberta contributes zero to CPP (other than as an employer of individuals). Individual Albertans and their employers do.

Are you suggesting that higher earnings in Alberta are a hardship? Higher earnings lead to higher CPP benefits later (up to the max pension earnings, that is). What is unfair about that?

CPP is structured that on average we each fund our own CPP over our working lives. Very fair.

A young high income earner in Alberta pays the same as the similar individual in Ontario. This is CPP money it is paid individually and owned by CPP now and will be paid to individuals. Alberta as a province or collective owns nothing of it. Not a cent.

Not sure what you mean about owning national debt or if you meant owing. National debt is owed by the Federal government. Calculations of the per capita amount are basically meaningless. Interest is paid from taxes so calculating a baby’s share the same as a doctor’s is meaningless.

I don’t know about you, but I have only one citizenship and that is Canadian. Canada is not divisible. There was no exit clause when Alberta was granted provincial status.

I value my Canadian citizenship and my right to move and work anyplace in this country.

#11 Doug t on 11.06.19 at 5:51 pm

More global growth is a certainty

That’s not a positive in terms of a healthier and more compationate world – Capitalism’s belief in perpetual economic growth flies in the face of natural order and nature can be a B*tch when she decides enough is enough

#12 Irwin on 11.06.19 at 6:05 pm

It’s a wonderful day in the nay-bore hood.

In an interview from a couple days ago, the hated Kevin O’Leary did NOT hint that he would try to replace Scheer.

He suggested that (gasp) a woman might be right for the job.

I’ve thought for a long time, that a female General would make a fine PM. We have some tough ones who know how to crack the whip.

Here’s the O’Leary interview:
https://www.youtube.com/watch?v=DmSGQAgLGF4

#13 Mr Fundamental on 11.06.19 at 6:05 pm

No worries, no bopping for me. Just buying equities and never selling. None of those low yielding bonds for me. :)

#14 one big joke on 11.06.19 at 6:06 pm

first time in a year that i’m buying floaters and rate rests.

#15 Joseph R. on 11.06.19 at 6:12 pm

#6 Quid Pro Quo Schmo on 11.06.19 at 5:32 pm
My boss pays me for my work. Is that a Quid Pro Quo? If he didn’t pay me I wouldn’t work, and if I didn’t work he wouldn’t pay me.

Also I went to McD’s for lunch today. I had to PAY the lady at the first window before I got my Big Mac at the second.

Another Quid Pro Quo.

Near as I can tell, every human interaction is a Quid Pro Quo. Can someone explain one that isn’t?
———————————–

Qui Pro Quo:

Something for something. Used in law for the giving one valuable thing for another. It is nothing more than the mutual consideration which passes between the parties to a contract, and which renders it valid and binding. Cowell. “Quid sit jus, et in quo consistit injuria, legis est definire.” What constitutes right, and what injury, it is the business of the law to declare.

It’s the basis of contract law.

“every human interaction is a Quid Pro Quo.”

Sorry to hear you see every interaction as transactional. Is that how you would treat your lady?

A president cannot impose conditions to money that has been earmarked by Congress: It would be changing a contract without appropriate authority.

#16 DON on 11.06.19 at 6:13 pm

#9 David Pylyp on 11.06.19 at 5:36 pm

Toronto just released the stats
http://www.trebhome.com/hlfiles/pdf/MarketWatch_infographic.pdf
Inventory down 9.6%
Prices holding

Rents down slightly

Now after the election things will ramp up with cheap money on the horizon.

Full Steam Ahead!

David Pylyp
Toronto
***********

Watch out for that cliff!

#17 Mike in Cowtown on 11.06.19 at 6:17 pm

So if you pay a premium to lock in for 10 years with it opening in 5 are you saying its not likely we will see a recession in the next 5 years?

I can see the US chugging along for some time but I’m thinking Canada may be in for some challenges with the Liberals at the helm and record personal debt.

#18 I'm Alright Jack on 11.06.19 at 6:19 pm

Could be the time to load up on rate-reset preferreds, since they got slaughtered this past year. Or just buy CPD?

#19 Bigriders nonno on 11.06.19 at 6:20 pm

You lika my uppa Garth I see. Or may be you maka fun ofa my english uh ? . Dis isa ok for nonno , I no care, I still lika you.

I tella you so many a times dat a da prica ofa da real estata she’sa gonna keepa a go uppa Uppa UPPA and you no wanna listena to me nonno. Again, disa you problemo notta mine and dat is ok, I still lika you verry mucha. Nonna , she stilla maka a nice plate ofa da cappelini fat ina oilio for you whena you come over my house. I hava some homemade a vino for you too !

I wanta to tella you though that my stupido grandson bigrider, he no buya no real estata and he stilla live ina one ofa nonno properties a rent free , I feela so sorry for him sometimes. He isa my sons son and he maka too mucha school and too little ofa da moneta. Hisa school and hisa big brain F -%k him up.

You no needa much brains to know real estata ALWAYS go UPPA ina da city ofa Toronto. It is alika magic. Make nonno and many Italiano people very rich and thats a for sure.

No listena to him everybody here. He’sa no know nutting

#20 Eco Capitalist on 11.06.19 at 6:38 pm

@ #6 Quid Pro Quo Schmo

Sure, just go hug someone.

#21 BS on 11.06.19 at 6:46 pm

Quid Pro Quo Schmo on 11.06.19 at 5:32 pm

My boss pays me for my work. Is that a Quid Pro Quo? If he didn’t pay me I wouldn’t work, and if I didn’t work he wouldn’t pay me.

Also I went to McD’s for lunch today. I had to PAY the lady at the first window before I got my Big Mac at the second.

Another Quid Pro Quo.

Near as I can tell, every human interaction is a Quid Pro Quo. Can someone explain one that isn’t?

You are correct. Humans by nature don’t do things without getting rewarded or an incentive to do it. That is why communism has failed every time. There is your example of no Quid Pro Quo. You get free stuff whether you work or not. Would you work if you got the same reward without working? Nope, most people wouldn’t or they certainly would’t work hard or very often. You get the same reward not matter what you do. With nobody working or putting in an effort things fail.

Back to the Quid Pro Quo. The whole thing with Trump is just desperate democrats flailing without a viable leader. Their leaders want to bring in socialism. The New Green Deal pays people who do not feel like working as an example. Free everything. You know where you get stuff for doing nothing. Doesn’t work as history has proven. It goes against human nature.

The democrats know they can’t beat Trump with the group they have. So they make up a fake impeachment after it was clear the Russia spy thing was not going to work. If we impeached politicians every time there was a Quid Pro Quo then we would have no politicians. People (including politicians) work off incentives. There are strings attached to everything. It makes the world go around.

#22 AR on 11.06.19 at 6:50 pm

How will climate change and the increased frequency of disasters (fire, flood, ice storms, wind storms, etc) affect the world economy? Won’t it eventually get very hard to get insurance? Won’t the uncertainties affect business bottom lines? I see there are new international standards (ISO) for organizations and corporations —guidance for adaptation and preparation. https://www.iso.org/news/ref2405.html
Let’s hope people use it. We’re in for a very rocky ride.

#23 Joe on 11.06.19 at 6:51 pm

“Money is on the move. Out of bonds. Into equities.”

Foreign private equity firms lead $152bn blitz on London Stock Exchange

https://www.telegraph.co.uk/business/2019/11/06/foreign-private-equity-firms-lead-152bn-blitz-london-stock-exchange/

Garth, you might be on to something…

#24 BS on 11.06.19 at 6:53 pm

“Rates will rise, not fall, if protectionist sentiment gives way again to trade deals.”

In a presidential election year the Fed will stand pat.

#25 Alberta Ed on 11.06.19 at 6:57 pm

Surfer Boy is going to deal with climate change when he gets back from Tofino.

#26 BS on 11.06.19 at 7:01 pm

15 Joseph R. on 11.06.19 at 6:12 pm

Sorry to hear you see every interaction as transactional. Is that how you would treat your lady?

Yes almost everything is transnational including hugging your wife. You may do it for 2 reasons. It makes you feel better or it makes her feel better. Both are a rewards which you benefit from.

Would you walk up and hug a telephone pole? Of course not because there is no reward.

#27 leebow on 11.06.19 at 7:02 pm

#6 Quid Pro Quo Schmo

Why, did you have a fiduciary duty to the people that precluded you from working for hire or eating hamburgers?

#28 Paul on 11.06.19 at 7:02 pm

Never knew of that site tiktok until I clicked you link, now I’ll never be the same :-( thanks a lot Garth,,, lol

#29 Whoa Dude..Surf's uppa on 11.06.19 at 7:07 pm

#25 Alberta Ed on 11.06.19 at 6:57 pm

Surfer Boy is going to deal with climate change when he gets back from Tofino.
……..
https://postmediatorontosun.files.wordpress.com/2019/11/dewarnov62019.jpg

#30 leebow on 11.06.19 at 7:09 pm

It’s reasonable to assume that Trump will do whatever he can to prop the market. The Q is whether he’ll be able to keep it up for the year. Who knows what is on Xi’s mind, if he is going to play along.

#31 ElGatonerodeYVR on 11.06.19 at 7:20 pm

No disrespect to the fine people of AB but you cannot have true Wexit without BC as my rudimentary geographical knowledge tells me there is no other outmost Western province then BC, and BC is not going anywhere that is not Canada….just sayin’

#32 Yukon Elvis on 11.06.19 at 7:21 pm

Maybe we will get 5 count ‘em 5 humungous rate increases for a jagnormous total of 1.25% like last time….I’m shaking here, just shaking….

With the size of mortgages most people now face that is a callous, tone-deaf attempt at humour. – Garth

#33 IHCTD9 on 11.06.19 at 7:22 pm

#94 Eks dee Siple on 11.06.19 at 2:10 pm

“Itchy, I suppose you mean well, but I find your examples a tad bit ridiculous. Let me explain: 1) All of Ontario is in a bubble. All of Canada is in a bubble somewhat. It doesn’t matter where you go, there is no escape from the RE insanity. Take today’s contributions on the Niagara region, for example. “

Agree. Around here prices are pushed up by retirees cashing out and exiting the gta. Nevertheless, you can still buy a brand new very nice house in a subdivision for 500k, and that is totally affordable on decent local (dual) incomes.

“2) Not everyone can build their own house from scratch, that is an absolutely ludicrous example for the majority of Ontarians.”

It was the first house this guy ever built. He dug deep, did his research, and made it happen. At one time, I had never rebuilt the undercarriage of a dozer before either. You CAN pull off some pretty amazing things if you WANT to.

“ 3) All of your examples have always assumed at least one good job and usually it is with the government, and it usually the wife while the husband goes around fooling. Is this what you do also? Is that why you define your job as part-time?”

Correct. I can’t talk about folks buying new houses, fancy trucks and sweet Grizzly 700 SE’s without qualifying that dual incomes are required. Regular single incomes won’t be doing any of this anywhere in Canada. My preference would actually be TWO govy jobs. Yes it is usually the Women with the public job, but that’s just the folks I know. Their hubby’s keep plenty busy. Obviously, it doesn’t matter who does what provided it brings home the bacon. The whole point is you need a lot less pork to live decently outside certain big Canadian cities. That goes double if you have some skills and show no fear.

“4) You continue to embrace your own hypocrisy in complaining about socialism while fully squeezing the crap out of it. Embarassing to say the least, and not one bit helpful. In summary, all you’ve done is brag.”

Nothing hypocritical about thinking socialism is dumb while I bank the proceeds thereof. I never asked for it. I never voted for it. If you put me in charge, the stupid parts of it would all disappear the morning after I was elected.

Eks, – folks like YOU voted for these giveaways, I just put them in the bank and visit the YAMAHA dealership. Don’t get mad because the plan didn’t work out like you hoped, that’s life. Think of me the next time you vote for more spending.

#34 Gary Sanhujo on 11.06.19 at 7:48 pm

I bought some 3.75% compound 10 year GIC’s January-2019, this year with all CDIC insurance as I knew in 2020 by April-30 they would all be deposit insured. The total compound interest over 10 years is decent for these days, 44.5% or 4.45% per year in my RRSP’s, TFSA’s, RESP’s.

#35 SoggyShorts on 11.06.19 at 7:48 pm

#6 Quid Pro Quo Schmo on 11.06.19 at 5:32 pm
My boss pays me for my work. Is that a Quid Pro Quo? If he didn’t pay me I wouldn’t work, and if I didn’t work he wouldn’t pay me.

Also I went to McD’s for lunch today. I had to PAY the lady at the first window before I got my Big Mac at the second.

Another Quid Pro Quo.

Near as I can tell, every human interaction is a Quid Pro Quo. Can someone explain one that isn’t?
**********************
E.G. 1
The McD employee interaction you mentioned has a gap.
Your money> cash register> owner> employee
if you gave the employee cash directly and they gave you 11 pieces in your 10 piece nuggets or let you cut the line or some other favor then that would not be ok.

E.G. 2:
A Judge reaches a verdict based on evidence and precedent. That’s OK.
A Judge reaches a verdict based on a bribe. Not OK.

E.G. 3:
The US giving aid to the Ukraine which furthers the US interests in the region is OK.
Trump giving that aid in exchange for something that benefits Trump directly and not the US is not OK.

The question these impeachment proceedings are trying to answer is
“Did Trump (ab)use his powers for personal gain?”
That would be Quid Pro Quo and not OK.

#36 PetertheSeparatistfromCalgary on 11.06.19 at 7:48 pm

An independent Alberta could have it’s own currency. Than Alberta’s central bank could set monetary policy based on what is happening in Alberta rather than Toronto and Vancouver.

We could use monetary policy to smooth out the boom and bust cycles Alberta experiences. The Alberta dollar would increase and decrease on the market with the price of oil which would also help ease boom and bust cycles.

Good weed? – Garth

#37 meslippery on 11.06.19 at 8:07 pm

Timing is everything…
Hind sight is 20/20…
If you time the market wrong then the time to invest
is when you have money.
———–
https://www.azquotes.com/quotes/topics/timing-is-everything.html

#38 Flop... on 11.06.19 at 8:07 pm

Last time I checked, I was eligible to live in Canada, Australia, New Zealand and Fiji.

I choose to live in Vancouver for the affordable real estate, friendly people and outstanding weather…

M45BC

“Visualize the Entire World’s Wealth Inequality

Wealth inequality shows up in a variety of different ways. You can see it in the uneven distribution of millionaires around the world. You can find it in a series of maps we published this time last year, showing the average wealth per adultin each country in the world. And it’s the same story when you look at median wealth per adult around the world.

The Swiss are the richest with median wealth per adult at $227.9K.

Haiti is the poorest country in the world with an estimated median wealth of only $214 per adult.

Venezuela might be in worse shape, but given the economic instability, researchers could not provide an accurate estimate.

There’s no country on the African continent where median wealth exceeds $10,000 per adult.

Top 3 Countries in the Americas by Median Wealth per Adult

1. Canada: $107K
2. United States: $65.9K
3. Aruba: $21.8K

It’s no surprise that Canada ($107K) and the U.S. ($65.9K) are by far the wealthiest in the Western Hemisphere. One place that’s become measurably worse over the last year is Venezuela. The Venezuelan economy has almost entirely collapsed, destroying an untold amount of wealth. The country essentially has a worthless currency, and half of all the country’s transactions now take place in American dollars. People are now buying gasoline with cigarettes. It’s hard to see how things could get much worse.

Top 3 Countries in Oceania by Median Wealth per Adult

1. Australia: $181.4K
2. New Zealand: $116.4K
3. Tonga: $19.7K

Australia and New Zealand are by far the wealthiest countries in Oceania. They are surrounded by islands with comparatively little wealth, like Fiji ($6.1K) and Vanuatu ($6.1K).”

https://howmuch.net/articles/wealth-per-adult-world-2019

#39 Flop... on 11.06.19 at 8:09 pm

Last time I checked I was eligible to live in Canada, Australia, New Zealand and Fiji.

I choose to live in Vancouver for the affordable real estate, friendly people and outstanding weather…

M45BC

“Visualize the Entire World’s Wealth Inequality
Wealth inequality shows up in a variety of different ways. You can see it in the uneven distribution of millionaires around the world. You can find it in a series of maps we published this time last year, showing the average wealth per adultin each country in the world. And it’s the same story when you look at median wealth per adult around the world.

The Swiss are the richest with median wealth per adult at $227.9K.

Haiti is the poorest country in the world with an estimated median wealth of only $214 per adult.

Venezuela might be in worse shape, but given the economic instability, researchers could not provide an accurate estimate.

There’s no country on the African continent where median wealth exceeds $10,000 per adult.

Top 3 Countries in the Americas by Median Wealth per Adult

1. Canada: $107K
2. United States: $65.9K
3. Aruba: $21.8K

It’s no surprise that Canada ($107K) and the U.S. ($65.9K) are by far the wealthiest in the Western Hemisphere. One place that’s become measurably worse over the last year is Venezuela. The Venezuelan economy has almost entirely collapsed, destroying an untold amount of wealth. The country essentially has a worthless currency, and half of all the country’s transactions now take place in American dollars. People are now buying gasoline with cigarettes. It’s hard to see how things could get much worse.

Top 3 Countries in Oceania by Median Wealth per Adult

1. Australia: $181.4K
2. New Zealand: $116.4K
3. Tonga: $19.7K

Australia and New Zealand are by far the wealthiest countries in Oceania. They are surrounded by islands with comparatively little wealth, like Fiji ($6.1K) and Vanuatu ($6.1K).”

https://howmuch.net/articles/wealth-per-adult-world-2019

#40 Mark on 11.06.19 at 8:09 pm

We are headed higher for stock market till we are not…..
It’s going to be very ugly when things do retreat.

#41 yorkville renter on 11.06.19 at 8:14 pm

Folks, I know AB is feeling left out… personally, I want pipelines and refineries in Canada… but let’s not pretend that AB has the population to be it’s own country. that’s crazy talk

#42 Nonplused on 11.06.19 at 8:18 pm

I think Wexit is unavoidable, but it not going to take the form of a referendum and declaration style Wexit like the Quebec referendum did. It’ll start out slowly, and then only be identifiable to historians.

The first reason is obvious. Confederation isn’t working anymore and provinces, particularly BC and Quebec, are usurping powers that belong to the feds. The pipelines are the most obvious examples. Both BC and Quebec are dead set against, all the while importing oil & products from the US by train and by sea. Quebec and Ontario are by far the biggest hypocrites, importing most of their feedstock from the US, Norway, and Saudi Arabia. Why should this be happening when Canada has enough oil to be self sufficient?

And BC is an even weirder example. They are heavily dependent on products shipped from Alberta via the 1950’s era Trans-Mountain pipeline. That pipe has been in the ground a long time. It’s going to spring a leak and have to be shut down for repairs at some point. When it does, Vancouver will grind to a halt within 3 days. There isn’t enough trucking or rail capacity to prevent it. So if I were the mayor of Vancouver, I would be demanding the pipeline be twined. The odds of 2 pipelines being shut down due to leaks at the same time are infinitely remote unless it’s due to sabotage. Which I wouldn’t put past these crazy alt-lefties because they know pipeline leaks are relatively small but they make great press. (Liquids are not compressible, so when a liquids pipeline starts leaking the computers can tell almost immediately and shut the pipeline down. Basically what happens is that the computer monitors how much oil is being put in the pipeline and also how much is coming out. As soon as the 2 numbers are not the same it shuts down.)

So anyways, the idea I am trying to put across here is that the existing Trans-Mountain pipeline is some 6 decades old and it is going to have to be shut down for repairs or decommissioning at some point and Vancouver will be screwed. But the economic solution is to build a larger brand new pipeline and export oil for economic reasons until the old line needs to be shut down for safety reasons. But that isn’t going to happen because BC has usurped the federal mandate in such matters and doesn’t understand that they have no choice in the foreseeable future.

The second reason is demographics. Alberta is relatively young and until recently was prosperous. Ontario and Quebec are quickly approaching a retirement Apocalypse. Alberta already puts into CPP 18 cents for every 10 cents they take out. Forecasts are for this number to go way up over the next 10 years. There is no way for this to be sustained. The 4 million residents of Alberta cannot afford to pay for of the much larger population of Ontario that is approaching retirement. Especially without pipelines. So Kenney has already floated stage one of the slow separation steps, following the Quebec pension plan model and cutting Ottawa out. It is more than a threat, it is an absolute economic imperative.

Stage 3 will occur when the US shale boom runs it’s course, which it already appears to be doing. Eventually the US will approve Keystone XL, and Alberta will fall even more under US economic influence than it already is. On the one hand you have the political green opinion that bitumen is bad and must be banned, but on the other hand you have the learned people running the refineries saying “but wait, we can’t make asphalt with shale oil! It’s too light!” So at some point in the future the US will realize that Keystone XL is an economic imperative. The recent Keystone leak is already reminding them of that, as it is having a huge impact on refinery runs.

So to summarize, the three components to the long slow Wexit are thus:

1. Confederation is dead.
2. Demographics.
3. Alberta will increasingly fall under US economic influence if #1 is not fixed.

10 years from now Alberta will be a Canadian province in name only. 20 years from now they will have near zero relationship with Ottawa. Saskatchewan will probably follow Alberta. Wexit is a sure thing, it just won’t look like a divorce. It’ll look more like an open marriage where the spouses live apart.

#43 Ustabe on 11.06.19 at 8:19 pm

Soggy:
The question these impeachment proceedings are trying to answer is
“Did Trump (ab)use his powers for personal gain?”
That would be Quid Pro Quo and not OK.

Are you old enough to remember when we thought ignorance was a product of lack of information?

Then along comes the Internet and we discover that isn’t the case at all…its willful.

You are attempting to explain something to someone who, when they cut themselves, blames others for the blood no matter the evidence to the contrary.

#44 crazyfox on 11.06.19 at 8:22 pm

There are plenty of arguments for an end to the U.S./China trade war, of this, there is no doubt. It’s bad for Trump politically, bad for the U.S. economically and bad for the global economy as a whole not to end it. It’s taking a toll on states like agricultural Kentucky that just elected a Democrat governor in a state Trump carried by 30 points in 2016. Dems flipped 5 rural county’s that were Ruby red in Mitch McConnell country. All the Dems had to do was go door to door. All things considered, Republicans need the trade war to end.

https://www.youtube.com/watch?v=imVhcmKuRi4

But the nagging question that has to be asked is “why the hell did the U.S. end up with a trade war with China to begin with?”

I never did find a valid answer for it. Lack of a trade deal with China, the flow of trade between the U.S. and China has been adjusted with tariffs both ways for like, ever. Chinese trade practices haven’t been a turn on by any means but its never stopped the U.S. from doing business, even now. The lack of an answer to this question is the one that makes me worry that Trump has never acted in America’s best interest with jacked tariffs and a trade war at any time. It made as much sense to me as U.S. tariffs on steel and aluminum imports in North America simply because the timing of U.S. demands of renegotiated trade deals and because of trade practices that make little if any sense, I sense that more is to come until Trump is gone from office and lets not get too exuberant expecting a quick deal shall we? Trump and Xi won’t meet until December and this is not the first time Wilbur Ross has told media “we’re close”.

Trump’s impeachment may not be far off. Withholding over $400 million in military aid to Ukraine in return for a political smear job of Biden, that’s mea culpa at its worst, an obvious impeachable offense with credible witnesses and evidence. The senate will have to make a couple choices. Go with a public hearing (or not) and explain their choice to the American people after the fact so here’s how I think it will play out.

It’s an if/then. If Biden is favored to be elected as leader of the Dems somewhere between March and June and polls favor impeaching Trump by more than 60%, Senate Republicans in a bid to hold power will will get rid of Trump (which, of course, comes too late). If Warren wins or looks to win, the Republican senate will try to win with Trump. At the moment, Biden has come back somewhat, sneaking slightly ahead of Warren so we shall see.

Only one thing is certain, uncertainty itself. Trump could start a war with Iran for no other reason than a desperate bid to rile up his base (there’s nothing Republicans like more it seems, than war). Or, because Putin told him to. Or, U.S. big O & G. Or whoever else pays him most. Too conspiracy theorist, too abnormal, the problem is nothing has been normal with this presidency and that’s the point. We are dealing with a corrupt human being that prays on people’s prejudices in the highest public office of the land and because of it, anything is possible and its distracting us from the larger issues of the world that won’t go away. As an example, 11,000 scientists from around the world just declared a climate change emergency saying because of human inaction, climbing GHG emissions and acceleration, climate change is threatening ecosystems and by proxy, the fate of humanity and it barely made the news:

https://www.youtube.com/watch?v=3SD-Mrv7QLQ

#45 dirtydebtor on 11.06.19 at 8:25 pm

“the yield curve is flaccid no longer, but stiffening nicely.”

LOL

love it Gartho

#46 Flop... on 11.06.19 at 8:27 pm

Hmmm, my post came up twice.

I will serve a 24 hour blog suspension immediately.

I know where the headmasters office is…

M45BC

#47 crazyfox on 11.06.19 at 8:32 pm

#6 Quid Pro Quo Schmo on 11.06.19 at 5:32 pm

Sure. Unconditional love.

#48 crazyfox on 11.06.19 at 8:36 pm

#6 Quid Pro Quo Schmo on 11.06.19 at 5:32 pm

Empathy. A gift, for example, perhaps the most valuable gift of all, your time.

#49 not 1st on 11.06.19 at 8:42 pm

Crazyfox earned the double face palm of the evening.

Buddy there is no climate change. There is only a climate cult and you fell right in.

#50 okotoksmatt on 11.06.19 at 8:48 pm

yorkville renter on 11.06.19 at 8:14 pm
Folks, I know AB is feeling left out… personally, I want pipelines and refineries in Canada… but let’s not pretend that AB has the population to be it’s own country. that’s crazy talk

AB Left out? Canadians chose a green plan that transfers oil production from AB/SK to other countries with worse environmental records. This while PM surf boy flies a private government jet for a surf weekend in Tofino.

100,000 plus lost six figure jobs and we get called selfish for objecting to this treatment. I don’t want to leave Canada but am prepared to with the current deal in confederation. From CPP, equalization, EI, bilingualism, Supreme Court nominees are all skewed against the West.
AB/SK just want to develop and sell their resources. There is no reason why we shouldn’t be up to 10 million bpd and displacing Saudi and Russian oil.
Kenney is the federalist. I would listen to him and Brad Wall as AB can afford to leave Canada.

#51 Quid Pro Quo Schmo on 11.06.19 at 8:50 pm

#15 Joseph R. on 11.06.19 at 6:12 pm
++++++++++++++++++++++++++++++++

Thanks for your input, but despite your word salad reply, you still didn’t present an example of a human interaction that isn’t a quid pro quo.

As to marriage, please don’t attempt to explain that it isn’t a quid pro quo agreement. My wife and I agreed, decades ago, to love honor and cherish each other. Sounds pretty quid pro quo to me, and so far so good!

#6 Quid Pro Quo Schmo

Why, did you have a fiduciary duty to the people that precluded you from working for hire or eating hamburgers?
++++++++++++++++++++++++++++++++++

Quid Pro Quo has nothing to do with fiduciary duties, but nice try!

#52 Joseph R. on 11.06.19 at 8:52 pm

#26 BS on 11.06.19 at 7:01 pm
15 Joseph R. on 11.06.19 at 6:12 pm

Sorry to hear you see every interaction as transactional. Is that how you would treat your lady?

Yes almost everything is transnational including hugging your wife. You may do it for 2 reasons. It makes you feel better or it makes her feel better. Both are a rewards which you benefit from.

—————————————————
“It makes you feel better or it makes her feel better. Both are a rewards which you benefit from.”

That’s a gift, not quid pro quo. Fortunately, most people in our society know the difference.
“Would you walk up and hug a telephone pole? Of course not because there is no reward.”
Why are so sure you’d get no pleasure from it?

#53 MF on 11.06.19 at 9:08 pm

#42 Nonplused on 11.06.19 at 8:18 pm

Or,

Renewables become more and more prevalent. Fossil fuels become less and less in demand. The price falls further to never recuperate. Everyone who has based their economy on fossil fuels suffers, especially Alberta. Alberta is now totally dependent on the rest of Canada to survive. Provinces that have diversified their economies are flourishing and now have to pay transfer payments to Alberta.

The Dems come into power and reverse all of Trump’s accomplishments. They are also heavy into renewables. In the US, oil becomes less of a focus. Pipelines are cancelled, tree huggers everywhere yadda yadda yadda.

Of course this is not the future I actually believe in. But I wanted to show you how others can BS all day too.

MF

#54 TRUMP2020 on 11.06.19 at 9:14 pm

“The market can stay irrational longer than you can stay solvent.”

THE MARKETS DON’T CARE WHO YOU ARE….HOUSING, STOCK, BOND, or BITCOIN!!!

#55 CEW9 on 11.06.19 at 9:25 pm

#6 Quid Pro Quo Schmo on 11.06.19 at 5:32 pm
Near as I can tell, every human interaction is a Quid Pro Quo. Can someone explain one that isn’t?

An act of charity.
Or one of sacrifice.

If the only reason you act in every instance is to get something in return, your life is diminished. It’s been established many times (by research) that giving, with no expectancy of returns, contributes greatly to happiness and quality of life.

#56 SoggyShorts on 11.06.19 at 9:38 pm

#43 Ustabe on 11.06.19 at 8:19 pm
Soggy:
The question these impeachment proceedings are trying to answer is
“Did Trump (ab)use his powers for personal gain?”
That would be Quid Pro Quo and not OK.
—————————
Are you old enough to remember when we thought ignorance was a product of lack of information?

Then along comes the Internet and we discover that isn’t the case at all…its willful.

You are attempting to explain something to someone who, when they cut themselves, blames others for the blood no matter the evidence to the contrary.
***************************
Yeah, I’m a late gen Xer which means I’m often foolish enough to think that people actually want to learn rather than seeking an echo.
¯\_(ツ)_/¯

To wit: one more try

@Quid Pro Quo Schmo
♦Volunteering isn’t considered a quid pro quo because it’s not an obvious trade-off- basically, if your reward for doing something is just “warm fuzzies” it doesn’t count.
That goes for working a soup kitchen, being a Big Brother, or even a simple interaction like helping a stranger change a flat tire or giving them directions.
Also,
♦Duty. Yes, a cop gets paid to be a cop, but there are a lot of levels of fulfilling those duties from “phoning it in ” to going “above and beyond”, all of which pay the same.

#57 Doug t on 11.06.19 at 9:46 pm

#42 nonplussed

Zzzzz that was long – nah wont happen – what could happen is the whole country gets taken into the U.S. but that’s about 100 years or more

#58 Mad Hatter on 11.06.19 at 9:50 pm

I would like to know where Garth gets this information from “It’s worth noting, as well, that 10-year mortgages under the Canada Interest Act become open loans after five years. They can be paid off at any time in the second half of their lives with a simple three-month interest penalty.” as I cannot find it.

I went to see the [email protected] a year ago about signing a new deal on my 10 year mortgage. She told me that if I broke my 10 year mortgage I would have to pay either 3 months interest or interest rate differential, whichever is higher.

Does anybody know where this written so I can go back to the bank?

It’s the law. As stated. – Garth

#59 crowdedelevatorfartz on 11.06.19 at 10:02 pm

@#not 1st…..last.
“Buddy there is no climate change.”
+++++
As 11,000 Scientists world wide declare a climate emrgency.

https://www.straitstimes.com/world/united-states/over-11000-scientists-worldwide-declare-climate-emergency

nah….. 11,000 scientists are wrong.
……..You’re right.
Gotcha

Last….(if I may plagiarize John Cleese in “A Fish Called Wanda”)
“My God man, you are mercifully devoid of the ravages of intelligence”

But look on the bright sight.
Obstinate stupidity may be difficult to cure ….but not impossible.

#60 Cassandra on 11.06.19 at 10:10 pm

Garth is an eternal optimist. I can understand why given that he’s a boomer.

On the subject of TikTok:
https://www.reuters.com/article/us-usa-china-tiktok-us/tiktok-stresses-its-independence-from-china-but-u-s-lawmakers-are-unconvinced-idUSKBN1XF2N1

Listen to the national security guys and it’s all Cold War talk about China.

#61 Mad Hatter on 11.06.19 at 10:30 pm

I would like to know where Garth gets this information from “It’s worth noting, as well, that 10-year mortgages under the Canada Interest Act become open loans after five years. They can be paid off at any time in the second half of their lives with a simple three-month interest penalty.” as I cannot find it.

I went to see the [email protected] a year ago about signing a new deal on my 10 year mortgage. She told me that if I broke my 10 year mortgage I would have to pay either 3 months interest or interest rate differential, whichever is higher.

Does anybody know where this written so I can go back to the bank?

It’s the law. As stated. – Garth

Ah ha! I found it written down for anyone else who is looking for this information so they can have proof when the talk to the bank.

” Mortgage rates at terms
longer than five years will also be higher to compensate
lenders for prepayment risk, since federal law allows
borrowers to prepay these mortgages after five years
with a penalty of only three months of interest. The
frequency of longer-term mortgages is also constrained
by the desire of lenders to limit maturity mismatches
between assets and liabilities.”

https://www.bankofcanada.ca/wp-content/uploads/2013/12/fsr-december13-crawford.pdf

#62 Entrepreneur on 11.06.19 at 10:36 pm

“The forces of globalism will win since human wealth depends on its success….swept asunder by corporate internationalism.”

We are tangled in a web which is hard on the earth climate.

Premier John Horgan contracted four more BC Ferries built in the Netherlands.

I just shake my head in disbelief as the globalist are coming out and so proud of it.

It seems to me that the leaders do not understand how important it is to keep business in your own country, for jobs and for controlling climate.

“corporate internationalism” just elaborates climate change.

Slow down.

#63 Phylis on 11.06.19 at 10:42 pm

#15 Joseph R. on 11.06.19 at 6:12 p. Yep, and what Biden did was ok? Fighting fire with fire. Both seem to be on fire.

#64 Sail Away on 11.06.19 at 10:55 pm

#26 BS on 11.06.19 at 7:01 pm
15 Joseph R. on 11.06.19 at 6:12 pm

Sorry to hear you see every interaction as transactional. Is that how you would treat your lady?

———————————

Yes almost everything is transnational including hugging your wife. You may do it for 2 reasons. It makes you feel better or it makes her feel better. Both are a rewards which you benefit from.

Would you walk up and hug a telephone pole? Of course not because there is no reward.

———————————-

Excellent analogy. I rule a TKO for BS.

#65 Dr V on 11.06.19 at 10:59 pm

Re Quid pro quo

So if I workout, ride my bike and such, and only get a warm fuzzy feelin’ when it’s done (cuz it hurts so much
while I do it) is it qpq?

Yes! Cuz I get the chicks!!

That was easy.

#66 Sail Away on 11.06.19 at 11:12 pm

#22 AR on 11.06.19 at 6:50 pm

How will climate change and the increased frequency of disasters (fire, flood, ice storms, wind storms, etc) affect the world economy? Won’t it eventually get very hard to get insurance? Won’t the uncertainties affect business bottom lines?

——————————–

Yes and no: insurance would price it in, or only give policies with major exclusions. With business, every shakeup provides opportunity to profit.

#67 Sail Away on 11.06.19 at 11:27 pm

#33 IHCTD9 on 11.06.19 at 7:22 pm
#94 Eks dee Siple on 11.06.19 at 2:10 pm

——————————–

Nothing hypocritical about thinking socialism is dumb while I bank the proceeds thereof. I never asked for it. I never voted for it. If you put me in charge, the stupid parts of it would all disappear the morning after I was elected.

Eks, – folks like YOU voted for these giveaways, I just put them in the bank and visit the YAMAHA dealership. Don’t get mad because the plan didn’t work out like you hoped, that’s life. Think of me the next time you vote for more spending.

———————————–

Hear, hear! The instant something is enacted that I don’t agree with, I do my best to game the system. Exactly the same scenario as taking every possible tax exclusion. Do everything legal, but nothing illegal. Don’t forget to laugh all the way to the bank or Yamaha dealership.

#68 Sail Away on 11.06.19 at 11:34 pm

Oh boy…

https://torontolife.com/city/i-invested-my-life-savings-in-a-digital-currency-heres-how-i-lost-it-all/

#69 Graeme on 11.06.19 at 11:56 pm

So we’re back to saying rates will be rising? Like circa 2016-2018? OK I guess we can do this again. At some point it becomes the definition of insanity though.

#70 Dumb Wealth on 11.07.19 at 12:30 am

According to a post I saw elsewhere, money on the sidelines (aka in money market) is near the GFC highs.

#71 Longtem on 11.07.19 at 12:33 am

#6 Quid Pro Quo Schmo on 11.06.19 at 5:32 pm

For starters how about raising children, or caring for elderly parents, or volunteering at the local soup kitchen, or thousands of other human interactions.

Take off the Friedman shades.

#72 Nonplused on 11.07.19 at 1:43 am

#53 MF

My friend, you are obviously not an engineer, physicist, or an economist. I’ll spell it for you real slow:

There are no renewable sources of energy that scale to our needs at this point. The experiments have not succeeded.

Even if we come to some sort of way to generate enough wind power to provide our needs and the battery technology required to get through the days that are not windy enough or too windy, Alberta won’t be competitive because it’s too far away from markets. Why on earth would you put the solar panels or windmills here instead of Nevada?

Go back to playing guitar in your pub band. You don’t have the skill set to weigh in on these discussions.

#73 Nonplused on 11.07.19 at 1:46 am

#57 Doug t

I don’t have the time to be brief. Feel free not to read.

#74 Smoking Man on 11.07.19 at 1:50 am

Globalism sucks.

Allow money to move Free.
But trap hard working Canadians in the oil industry workers a death blow by Butts..

Liberalism is cult of freek show weirdos.

Trump is God…..

#75 not 1st on 11.07.19 at 4:06 am

#59 crowdedelevatorfartz on 11.06.19 at 10:02 pm
—-

Lets get a million scientists on the public dole to bleat it out next time.

There is no climate change, only climate cult and defacto wealth distribution. Caught a lot of weak socialist minds like crowded.

But don’t believe me, the IPCC is the one who told us that which we already knew.

“One has to free oneself from the illusion that international climate policy is environmental policy. This has almost nothing to do with the environmental policy anymore, with problems such as deforestation or the ozone hole,” said Edenhofer, who co-chaired the U.N.’s Intergovernmental Panel on Climate Change working group on Mitigation of Climate Change from 2008 to 2015.
So what is the goal of environmental policy?
“We redistribute de facto the world’s wealth by climate policy,” said Edenhofer.

#76 crazyfox on 11.07.19 at 4:10 am

#49 not 1st on 11.06.19 at 8:42 pm

There really is only one cult. Y’know, the cult of denial where de snakes and de crocodiles live…

#77 crazyfox on 11.07.19 at 4:21 am

Folks have been denying the truth since the dawn of time.

How often have we witnessed one feel threatened by those with more knowledge and wisdom than one’s self? How often have we witnessed someone who, feeling inferior, will run someone else down to make themselves feel superior in an effort to gain greater control over one’s self and it seemingly works but fails miserably over time? How many times must we witness someone thinking if they can take someone else’s light it will give them light of their own, only to witness from them more darkness?

Those who seek the truth will find it while those who deny the truth will find it not and the truth is, ultimately we will accept who we are and everyone else for who they are and love our father and mother and be given the crown of eternal life for as long as we love… or perish in de Nile… where de snakes and de crocodiles live.

#78 Buy? Curious? on 11.07.19 at 4:54 am

Ok Boomer.

#79 NoName on 11.07.19 at 6:02 am

interesting read

https://onezero.medium.com/a-i-and-the-future-of-cheating-caa0eef4b25d

#80 MF on 11.07.19 at 7:03 am

#72 Nonplused on 11.07.19 at 1:43 am

If anyone wants to see how some simpleton operates, and what the “Wexit” movement is really about read this post above^

Here’s the last part of my post earlier he/she/it was responding to:

“Of course this is not the future I actually believe in. But I wanted to show you how others can BS all day too.”

-Can you read Nonplused?

You clearly are so caught up in some made up foe in your head, you are imagining things.

I’ve been pro Alberta and pro oil my whole life. Posted on here about it multiple times.

Alberta industry has many allies all over Canada, including this GTA millennial approaching middle age. Don’t alienate them with your BS us versus them mentality.

MF

#81 Another Deckchair on 11.07.19 at 7:15 am

@72 Nonplussed;

First of all, your post #42 is right on the mark.

In my working life, one of the jobs was as at a place that had in it’s mandate: “scientific authority for our government”

Remember, “government” people who are higher up the tree are common people who are bright, dedicated, and have great inter-personal skills, but rarely have post-graduate education in technology topics (physics, chemistry, etc).

They are good people, doing their best for their country. However more than once the scenario was:

Scientists: This “ZZZ” topic is the future- we should place some focus here!

Higher ups: But we don’t currently do that. Stop your work and do something we are currently focusing on and need help with!!

— then, X years later —

Politicians: We need work on “ZZZ”! Drop what you are doing and focus on “ZZZ”!!!

Which, of course, is years too late to actually be of use for policy setting.

———————-

The “common” person has great ideals and are most certainly trying to help. It’s really *hard* to show them the next few steps though.

MF and others like him/her have, like us, their hearts set on working towards a better future. I failed at being able to work with people like MF, which to this day I rue. :-|

#82 Millennial Realist on 11.07.19 at 7:39 am

“And huge sums will be required over the next decade to deal with rapidly-changing demographics, the AI revolution and, yeah, climate change.”

Correct. And the current Paleo Boomer leadership is continuing to block and deny all of this, as they have done for decades.

That’s why that demographic will crumble before our eyes and be removed shortly. There is no time to waste. The financialization of our world has contributed enormously to the climate crisis, so that must be changed too. This will dramatically shift the entire world of ‘investment’ as we now know it.

Ok, Boomers?

Be part of the change.

Or be run over by it.

https://globalnews.ca/video/6133959/new-zealand-mp-shuts-down-heckler-with-ok-boomer-retort

OK kid. – Garth

#83 crowdedelevatorfartz on 11.07.19 at 8:12 am

@#75 Last ……not 1st….
“There is no climate change, only climate cult and defacto wealth distribution.”
+++++
Ri-i-i-i-ght.

Sooooo.
When the glaciers are gone and the Bow River is dried up, and Cow-gary is in the middle of a desert, ….. it was the rich folks fault.
Gotcha.
Denial is not just a river.
But as my Czech friend used to say about the boss….
“Eeee Deee Yott!”

#84 Another Deckchair on 11.07.19 at 8:39 am

This is for MF, Nonplussed, and others wondering about life beyond oil.

Years ago I enjoyed reading a blog by a UCSD Physics Prof; Tom Murphy. He lives (lived??) off the grid, and, basically, used his house and life as a “can we do this? How well does it work??” experiment.

One that got me was the “Nation-Sized Battery” –

https://dothemath.ucsd.edu/2011/08/nation-sized-battery/

The last paragraph of this specific entry, for those who’s time is precious is:

“Rather, the lesson is that we must work within serious constraints to meet future demands. We can’t just scale up the current go-to solution for renewable energy storage—we are yet again fresh out of silver bullet solutions. More generally, large scale energy storage is not a solved problem. We should be careful not to trivialize the problem, which tends to reduce the imperative to work like mad on establishing adequate capabilities in time (requires decades of fore-thought and planning).”

All his posts were worth reading; it took me a little bit to find him again – had not read this since it was posted back in 2011.

#85 crowdedelevatorfartz on 11.07.19 at 8:39 am

@Last ….definitely not 1st

From the University of Calgary

https://news.ucalgary.ca/news/scientists-unravel-effects-climate-change-bow-river

Other comments about the decline of the Bow Glacier which is the main source of water for the Bow River.

https://www.cbc.ca/news/technology/how-western-canada-glaciers-will-melt-away-1.3022242

But just keep building houses around Cowtown “1st”.

Some climatologists expect southern Alberta to resemble Utah or Arizona in about 100 years….

Poor obstinate ‘1st” (or should we call your “Thirst”?)
Cant see the climate so it doesnt exist….
Happly, smugly, ignorant.
Blissfully wandering into an unknown future.

#86 crowdedelevatorfartz on 11.07.19 at 8:45 am

@#82 Millenial Surrealist

You had to go all the way to New Zealand for a zippy one liner?

No worries.
Just keep blaming everyone else and taxing all the Boomer money for all the worlds problems.
But,eventually, the Boomer money will run out and you have to start taxing yourself….cause the problems will still be there. :)

Taxes. Be part of the system or be run over by it.

#87 not 1st on 11.07.19 at 8:59 am

#83 crowdedelevatorfartz on 11.07.19 at 8:12 am

You have a problem with time scale (and propaganda).
CBC? Why not Pravda? Tells me you are a not a critical thinker and get your information from wherever you can scrounge it.

NASA Models off by a hundred fold. They buried it in jargon but its still there. They have no idea what they are modelling. Any model with a 25% error should be tossed or rewritten.

https://isccp.giss.nasa.gov/role.html

“If a 2 percent change is that important, then a climate model to be useful must be accurate to something like 0.25%. Thus today’s models must be improved by about a hundredfold in accuracy, a very challenging task.”

#88 not 1st on 11.07.19 at 9:03 am

There is no coorelation between temp and CO2 a gas that makes up 0.04% of our atmosphere. We are in one of the lowest periods of CO2 in earths history. Much higher in the past and still no effect of temp.

https://wattsupwiththat.com/2013/06/04/dr-vincent-gray-on-historical-carbon-dioxide-levels/

#89 MATH on 11.07.19 at 9:14 am

countries around the globe are running deficits with huge national debts and aging populations

IF anyone tells you rates will rise? short term. Will will see negative rates around the globe (1/4 of soverign bonds are yielding negative )

MATH!…people lack basic basic basic math skills

#90 Remembrancer on 11.07.19 at 9:16 am

#82 Millennial Realist on 11.07.19 at 7:39 am

Can’t claim it / lost the attribution, but a recent as seen on Twitter:

Boomer – someone older than you, that you disagree with…

Millennial – someone younger than you, that you disagree with…

#91 Dups on 11.07.19 at 9:24 am

November to end of December the stock markets shed at least 10%, moving from bonds to stock now is premature. Unless you know something else…

Why would you move from a balanced portfolio with the correct weightings? Amateur thinking. – Garth

#92 Dr V on 11.07.19 at 9:45 am

Just saw this

“It’s not the boomers. It’s the investment banker you went to school with”

#93 Physicist Here on 11.07.19 at 9:54 am

“Some climatologists expect southern Alberta to resemble Utah or Arizona in about 100 years….”

Sorry but are these the same nimrods who said Toronto would be subtropical by the year 2000?

#94 Shawn Allen on 11.07.19 at 10:26 am

Alberta Wind Energy random check

Wind electric generators in my experience tends to run at surprising low capacity. Sometimes only 20% or so is running. No fuel cost so they should be the first generation (along with hydro and solar) to be utilized if available.

Right now fully 50% of wind generation is running in Alberta, 893 MW of 1781 MW. That’s not bad in my experience of looking at these numbers going back about 15 years.

I don’t know why half of the installed capacity is not running at the moment. Could be localized lack of wind or local winds too high or temporary maintenance or not enough transmission?

Natural gas is running at 71% capacity and it is called later as it has a fuel cost.

Coal is running at 54% capacity.

We can’t expect anything close to 100% on everything because we always have spare capacity and we are not at peak winter load yet. And always some offline.

Point is though, wind is not super reliable. But again the 50% at the moment is not bad.

http://ets.aeso.ca/ets_web/ip/Market/Reports/CSDReportServlet

I notice in the details some wind units are running near 100% some at far less than capacity and 5 of the wind projects are not running at all. These are not under construction. They just are not running right now.

#95 Jenny Wang on 11.07.19 at 10:31 am

My big buy of preferred shares on Monday seems like it was well timed, just days before the idiot media got wind of the goings on, thx dummies. As well, the companies best aligned to warmer relations with China, companies that had taken a beating, are jumping. It all makes for quite a good week for moi. I can’t mention the best stocks, a certain someone hates stock pickers making 10% a week when a superstar balanced offers that in a year. Whoops.

And back to the disaster called Trudeau. More Alberta companies are locking down and heading for Texas. Trudeau the job killer isn’t bothered that thousands of jobs were list this week alone. Billions more in tax revenue has disappeared since his re election. I’ll bet you lefties know not that all that welfare money comes from Alberta transfers…..right?

#96 Shawn Allen on 11.07.19 at 10:32 am

Big Short Guy and Canadian Tire

Big Short guy, Steve Eisman has been short Canadian Tire due to its credit card operations risk.

Canadian Tire out with strong earnings today. Stock is up.

He is also short Canadian Banks which are doing well.

Big Short guy to be known soon as Dirty Shorts guy?

#97 oh bouy on 11.07.19 at 10:44 am

@#95 Jenny Wang on 11.07.19 at 10:31 am

_______________________________________

you related to stan brooks?

#98 crowdedelevatorfartz on 11.07.19 at 10:49 am

@#88 Last….not 1st
” We are in one of the lowest periods of CO2 in earths history. Much higher in the past and still no effect of temp.”
++++

Ahhh yesssss.
CO2 levels 40 million years ago when dinosaurs farted methane by the blimp load.
OR better yet ……400,000 years ago when the planet had 400,000 people

Yet you ignore our population is at 7.5 billion and climbing to 8 billion in oh….about 6 more years…..no climate effect there.
Kinda hard to feed and water that many people when there’s fewer crops and “fracked up” drinking water…..

Perhaps Millennials should stop having babies?
Only selfish people would keep having babies in an over populated world……..

Perhaps you should change your monicker to “Simple Jack”

https://www.youtube.com/watch?v=qIxHb7cA6tg

#99 Rargary on 11.07.19 at 10:52 am

If AB runs out of fresh water, wouldn’t BC as well? ON lakes and air are horribly polluted, one of the many reasons I left. AB won’t leave Canada. If it was to happen, would we automatically have dual citizenship? And get the USA criminals coming over? Yuk

#100 Damifino on 11.07.19 at 11:06 am

#88 not 1st on 11.07.19 at 9:03 am

Pure blasphemy.

#101 Shawn Allen on 11.07.19 at 11:30 am

Carbon Tax etc.

Okay so increasing CO2 emissions might be very bad for the environment. Most scientists say so. But some disagree.

In any case these emissions come along with other known pollutants and they tend to use up non renewable resources.

But reductions come at a cost and harm economic growth to some degree.

What to do?

Well, most of the world including yes China has accepted that reductions are needed. Current U.S. federal government not on board. But States mostly are.

Even most of big industry is totally on board accepting reductions at least in intensity are needed.

Meanwhile the deniers protest. Even if they are right what is the point? The world is moving on. The ship has sailed. Carbon emissions will be reduced or at least growth slowed.

Deniers are like people still fighting after the supreme court has ruled. It’s pointless.

We can have our cake and a cleaner environment too. Just not quite as much cake but for the sake of a cleaner environment tomorrow. Why argue? Are you that hungry?

#102 NoName on 11.07.19 at 12:16 pm

Interesting read

https://reneweconomy.com.au/this-solar-farm-has-to-switch-off-every-second-day-due-to-negative-prices-63529/

#103 NoName on 11.07.19 at 12:19 pm

You got to love those nevegons.

Hywind Tampen is expected to be completed and commissioned in late-2022, will be the world’s largest planned floating offshore wind farm and the first to help power offshore oil and gas platforms.

It is being built by Norwegian energy company Equinor in partnership with the owners and operators of the Snorre and Gulfaks oil and gas fields in the North Sea and will contribute 35% of the annual power demand from those oil fields.

https://reneweconomy.com.au/norway-to-host-worlds-biggest-floating-wind-farm-to-help-power-oil-platform-49983/

#104 Steven Rowlandson on 11.07.19 at 12:30 pm

Given the magnitude of government and real estate debt and the devil may care attitude about it there should be medieval interest rates on it to compensate for counter party risk.

#105 Steven Rowlandson on 11.07.19 at 12:35 pm

I concur with #88. CO2 is not an issue and planet earth will not be turning into Venus anytime soon. Since we are in the Eddy minimum mini ice age the real concern should be keeping warm and producing enough food. Remember#88 First they laugh at you, then they violently attack you and then you win.

#106 Eks dee Siple on 11.07.19 at 12:48 pm

“Near as I can tell, every human interaction is a Quid Pro Quo. Can someone explain one that isn’t?”

**Writing a free blog everyday and having to deal with your imbecile crapola?** Does that count?

#107 I'm A Believer on 11.07.19 at 12:59 pm

#41 Yorkville Renter

Canada barely has a population to be its own country. lol

#108 Don Guillermo on 11.07.19 at 1:19 pm

#101 Shawn Allen on 11.07.19 at 11:30 am

We can have our cake and a cleaner environment too. Just not quite as much cake but for the sake of a cleaner environment tomorrow. Why argue? Are you that hungry?

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

That’s one way to look at it.

We just hand our cake over to people who have no carbon tax, poor environment and safety records and no Paris accord concerns.

https://www.bnnbloomberg.ca/encana-picks-denver-for-new-headquarters-as-it-relocates-to-u-s-1.1344626

Brilliant. Environment saved. Makes sense to me.

#109 James on 11.07.19 at 1:31 pm

#74 Smoking Man on 11.07.19 at 1:50 am

Globalism sucks.
Allow money to move Free.
But trap hard working Canadians in the oil industry workers a death blow by Butts..
Liberalism is cult of freek show weirdos.
Trump is God…..
_____________________________________
Old Man you need some help with your memory specifically your amygdala, the hippocampus, the cerebellum, and the prefrontal cortex. Your neurons specifically appear to be miss-firing for their involvement in forming memories due to the fact that your a revolving train-wreck freak-show with the same shit day after day. Take a course, learn something new to bitch about then come back and tell us all about it and while you’re at it change your depends you grumpy old curmudgeon.

Trump is god?……….bahhhhhhhha………

#110 n1tro on 11.07.19 at 1:34 pm

#98 crowdedelevatorfartz on 11.07.19 at 10:49 am
@#88 Last….not 1st
” We are in one of the lowest periods of CO2 in earths history. Much higher in the past and still no effect of temp.”
++++

Ahhh yesssss.
CO2 levels 40 million years ago when dinosaurs farted methane by the blimp load.
OR better yet ……400,000 years ago when the planet had 400,000 people

Yet you ignore our population is at 7.5 billion and climbing to 8 billion in oh….about 6 more years…..no climate effect there.
Kinda hard to feed and water that many people when there’s fewer crops and “fracked up” drinking water…..
———
With much respect, you are conflating over population and environmental pollution with climate change. All the extra people using up resources and screwing up where they live is a real thing….has been since forever. Climate change revolves around the build up of CO2 and somehow reducing it through taxation will magically solve the world’s problems.

#111 Renter's Revenge! on 11.07.19 at 1:41 pm

#106 Eks dee Siple on 11.07.19 at 12:48 pm
“Near as I can tell, every human interaction is a Quid Pro Quo. Can someone explain one that isn’t?”

**Writing a free blog everyday and having to deal with your imbecile crapola?** Does that count?

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

[ ] not burnt
[x] burnt
[x] Burnt Reynolds
[x] Burnie Sanders
[x] Burnadette Rostenkowski
[x] Burnt and Ernie
[x] Burnden of Proof
[x] Burnt of Paradise
[x] Man overburnt!
[x] Alburnt Einstein
[x] Dilburnt
[x] burnt out
[x] Burning with Babish

#112 not 1st on 11.07.19 at 1:43 pm

#98 crowdedelevatorfartz on 11.07.19 at 10:49 am

Crowded I have destroyed so many trolls in the past couple months with science and logic its not even funny. So you take the last tactic of the left and name call. Good one.

Lets address your lack of logic. If we are in a rapid warming period and its due to fossil fuels, more people cars, whatever, why are most of Canadas temp records from the period before the modern oil age when nobody owned a car or took plane trips and we had only a billion people on the planet?

So we are to believe we are having a rapid warming planet but not going to hit any record highs anymore? Higher highs, that’s what they told us. Not happening.

But you know the answer deep down.

https://en.wikipedia.org/wiki/List_of_extreme_temperatures_in_Canada

#113 Gravy Train on 11.07.19 at 1:46 pm

#105 Steven Rowlandson on 11.07.19 at 12:35 pm
“[…] Remember, #88. First they laugh at you, then they violently attack you and then you win.” And then they burn you at the stake (à la Joan of Arc). :)

#114 TurnerNation on 11.07.19 at 2:05 pm

Fast casual alert #2. Like SIR corp Boston Pizza, income funds warns things are sucking too.
Eat small or at home. Keep starving the beast.
T2/UN war on the middle class continues.

“Same Restaurant Sales (“SRS”), a key driver of distribution growth for unitholders of the Fund, was negative 4.2% for the Period and negative 2.3% YTD compared with 0.0% and positive 0.2%, respectively, for the same periods in 2018. Franchise Sales, the basis upon which Royalty6 and Distribution Income6 are paid to the Fund, exclude revenue from the sale of liquor, beer, wine and approved national promotions and discounts. On a Franchise Sales basis, SRS was negative 3.6% for the Period and negative 1.4% YTD compared with negative 0.2% and negative 0.4%, respectively, for the same periods in 2018. SRS results for the Period and YTD were principally due to declines in restaurant guest traffic, partially offset by increased take-out and delivery sales and menu price increases. ***Management of BPI believes that such declines in guest traffic are the results of increased competition in the full‑service restaurant sector, shifts in consumer spending habits in response to increased menu pricing tied to rising minimum wages, waning consumer confidence in the retail sector, higher levels of household debt and higher proportions of Boston Pizza restaurants being located in regions of Canada that are facing economic challenges***”

#115 jess on 11.07.19 at 2:10 pm

Repo and Reverse Repo Operations

https://apps.newyorkfed.org/markets/autorates/tomo-results-display?SHOWMORE=TRUE&startDate=01/01/2000&enddate=01/01/2000
Type: Repo 6.15 billion more than the Fed was offering.
Results Amount ($B)
Total 41.150 accepted 35.000

=======buying back ?

Statement Regarding Treasury Bill Purchases and Repurchase Operations
October 11, 2019

…”In accordance with this directive, the Desk plans to purchase Treasury bills at an initial pace of approximately $60 billion per month, starting with the period from mid-October to mid-November. These reserve management purchases of Treasury bills will be in addition to the Desk’s ongoing purchases of Treasury securities related to the reinvestment of principal payments from the Federal Reserve’s holdings of agency debt and agency mortgage-backed securities. ..”

https://www.newyorkfed.org/markets/opolicy/operating_policy_191011
============
Wall Street’s Liquidity Crisis: It’s Not Getting Better
https://wallstreetonparade.com › 2019/11 › wall-streets-liquidity-crisis-its-n…
3 hours ago – Deutsche Bank Headquarters in Frankfurt, Germany … confirmed its plan to fire 18,000 workers and reorganize into a good bank/bad bank

https://www.bloomberg.com/news/articles/2019-10-08/deutsche-bank-plans-about-half-its-18-000-job-cuts-in-germany

#116 jess on 11.07.19 at 2:17 pm

#112 not 1st on 11.07.19 at 1:43 pm

the “age of fire ” pyrogene?

https://grist.org/article/how-humans-kicked-off-the-pyrocene-a-new-age-of-fire/

#117 Blacksheep on 11.07.19 at 2:18 pm

Not 1st # 87,

Lets add some additional context to your quote from the NASA website link you provided, because this sounds pretty hard to dispute.

Crazy f, Crowded f or anyone else please explain to us climate heretics, what we are misunderstanding, in this clear, straight forward expiation by NASA, as to why these climate models are simply not reliable enough to give accurate predictions: ” Thus today’s models must be improved by about a hundredfold in accuracy” ?

Don’t bother quoting the X- billion people and Greenland is melting crap. Please counter NASA’s actual statement, supplied in their Government website.

I’m no climate expert, but I can read….

https://isccp.giss.nasa.gov/role.html

“Because there are so many possibilities for change, climatologists must know how clouds over the entire Earth will respond. Determining that response calls for computer models of the global climate that can explore changing conditions. Climate models are sets of mathematical equations that describe the properties of Earth’s atmosphere at discrete places and times, along with the ways such properties can change. The challenge for climate models is to account for the most important physical processes, including cloud microphysics and cloud dynamics, and their complex interactions accurately enough to carry climatic predictions tens of years into the future. When contemporary models are given information about Earth’s present condition — the size, shape and topography of the continents; the composition of the atmosphere; the amount of sunlight striking the globe — they create artificial climates that mathematically resemble the real one: their temperatures and winds are accurate to within about 5%, but their clouds and rainfall are only accurate to within about 25-35%. Such models can also accurately forecast the temperatures and winds of the weather many days ahead when given information about current conditions.”

“Unfortunately, such a margin of error is much too large for making a reliable forecast about climate changes, such as the global warming will result from increasing abundances of greenhouse gases in the atmosphere. A doubling in atmospheric carbon dioxide (CO2), predicted to take place in the next 50 to 100 years, is expected to change the radiation balance at the surface by only about 2 percent. Yet according to current climate models, such a small change could raise global mean surface temperatures by between 2-5°C (4-9°F), with potentially dramatic consequences. If a 2 percent change is that important, then a climate model to be useful must be accurate to something like 0.25%. Thus today’s models must be improved by about a hundredfold in accuracy, a very challenging task.”

#118 Jesse on 11.07.19 at 2:54 pm

#44 crazyfox on 11.06.19 at 8:22 pm

But the nagging question that has to be asked is “why the hell did the U.S. end up with a trade war with China to begin with?”

I never did find a valid answer for it. Lack of a trade deal with China, the flow of trade between the U.S. and China has been adjusted with tariffs both ways for like, ever. Chinese trade practices haven’t been a turn on by any means but its never stopped the U.S. from doing business, even now. The lack of an answer to this question is the one that makes me worry that Trump has never acted in America’s best interest with jacked tariffs and a trade war at any time. It made as much sense to me as U.S. tariffs on steel and aluminum imports in North America simply because the timing of U.S. demands of renegotiated trade deals and because of trade practices that make little if any sense, I sense that more is to come until Trump is gone from office and lets not get too exuberant expecting a quick deal shall we? Trump and Xi won’t meet until December and this is not the first time Wilbur Ross has told media “we’re close”.
*******************************

It should be obvious why Trump/US started the ‘Trade War’ with China. Set aside the off-shoring of America’s industry, the loss of millions of jobs, the rust-belt, rising populism and the hollowing out of America that’s been going on for decades….the reason is simple, America doesn’t need China. In fact, America doesn’t need world trade that much anymore. There is a reason the US is backing away from being the world’s police man protecting shipping lanes, it’s not in their best interest anymore. America is going to be more isolationist going forward, and they will be better off for it. Europe/Germany will be in trouble, so will China. The post-WW2 world order is over, and Fortress America is planning for the future.

Peter Zeihan on Real Vision (a must watch for everyone): https://youtu.be/lFjr-Q1qi-g

#119 crowdedelevatorfartz on 11.07.19 at 3:13 pm

@nirto and Last…not 1st.

Sad.
11,000 scientists are wrong
Anonymous internet “experts” are right…
The planet is saved!
I feel better now.

#120 Shawn Allen on 11.07.19 at 3:19 pm

Alberta pays net $20 billion to rest of Canada?

Alberta is currently a rich province.

In other breaking news the 1% pay what is it 20% of income tax and get back probably less than people in the bottom 40%. Why don’t they leave Canada? Oh yeah, because mostly they don’t want to and or cannot.

Why should a rich province not expect to be a net payer to its country?

How much of the $20 billion net from Alberta comes from corporations? And when those corporations are majority owned by non-Albertans how is that “Alberta” paying tax? Is that not the owners of those companies paying that tax? Or perhaps the customers of those companies?

How much does Alberta REALLY pay net to the rest of the country? Precisely how much you would like the answer to be. Simply torture the numbers until they confess what you want.

Right now a lot of interest in calculating up figures like this dubious $20 billion. I am sure the real answer is positive. But is it really $20 billion? Depends who calculates it.

Again, I have lived in Alberta for 30 years. Before that Nova Scotia for 29 years. I am Canadian. Period.

And I pay less tax for the same income as Canadians in other provinces. And there are better jobs here. Cry me a river? I am off now for a cake break.

#121 r1200c on 11.07.19 at 3:32 pm

I wonder if this qualifies as a puppy picture/video? https://www.youtube.com/watch?v=7uMSl28_8Rw

#122 Jesse on 11.07.19 at 4:14 pm

#120 Shawn Allen on 11.07.19 at 3:19 pm
Alberta pays net $20 billion to rest of Canada?

Alberta is currently a rich province.

In other breaking news the 1% pay what is it 20% of income tax and get back probably less than people in the bottom 40%. Why don’t they leave Canada? Oh yeah, because mostly they don’t want to and or cannot.

Why should a rich province not expect to be a net payer to its country?

How much of the $20 billion net from Alberta comes from corporations? And when those corporations are majority owned by non-Albertans how is that “Alberta” paying tax? Is that not the owners of those companies paying that tax? Or perhaps the customers of those companies?

How much does Alberta REALLY pay net to the rest of the country? Precisely how much you would like the answer to be. Simply torture the numbers until they confess what you want.

Right now a lot of interest in calculating up figures like this dubious $20 billion. I am sure the real answer is positive. But is it really $20 billion? Depends who calculates it.
****************************

>Then Alberta should stage a referendum before Christmas 2019 on opting out of, or revamping, Canada’s unjust equalization system. (Since 2010, Ottawa has taken an average of over $20 billion a year out of Alberta; Quebec receives $13 billion, or two-thirds of every dollar in the federal equalization program.) It’s a bribe to Quebec with Alberta money which is why Justin Trudeau recently extended the system to 2024 — an extension which should be nullified.

https://business.financialpost.com/diane-francis/diane-francis-alberta-needs-a-new-deal-fast-or-separation-is-inevitable

Alberta pays on average $20B into federal coffers, numbers don’t lie.

‘Nuff said.

#123 Phylis on 11.07.19 at 4:48 pm

I’m hearing rumblings that the clouds are organizing and are going on strike.

#124 Gravy Train on 11.07.19 at 4:58 pm

#118 Jesse on 11.07.19 at 2:54 pm
“[…] America doesn’t need world trade that much anymore.[…] America is going to be more isolationist going forward, and they will be better off for it.” Adam Smith and David Ricardo are turning over in their graves. :)

#125 Sail Away on 11.07.19 at 6:23 pm

#119 crowdedelevatorfartz on 11.07.19 at 3:13 pm
@nirto and Last…not 1st.

Sad.
11,000 scientists are wrong
Anonymous internet “experts” are right…
The planet is saved!
I feel better now.

———————————-

Exactly. And two of those official signatories were Mickey Mouse and Albus Dumbledore. If you can’t trust them, then who?

#126 Doug in Londinium on 11.07.19 at 9:25 pm

Money is on the move. Out of bonds. Into equities.
————————————————————
That’s odd, shouldn’t that have been happening 11 months ago when equities were on sale?

As stated here a few days ago, this will also make our guys at the Bank of Beavers look like clairvoyants for having resisted the urge to make money cheaper.
———————————————————-
I wouldn’t call it clairvoyance, just good old fashion bore you to tears plain old common sense. Our bank of Beavers correctly believe that if something isn’t broken don’t fix it.

#127 Doug in Londinium on 11.07.19 at 9:30 pm

TikTok you say? Looks like a bunch of rubbish. I’ll stick with Youtube videos, including those nerdy ones where you might actually learn something.

#128 Gen X on 11.08.19 at 1:42 am

Millennials have higher expectations, fewer opportunities and enough votes to vote to take everyone else’s stuff.