Diddled

Did the feds lie to us prior to the election?

Hmm. Conspiracy stuff. Conservative click bait. But it’s an interesting question. The job numbers for September were terrific. Ottawa announced the creation of 135,000 new positions in the two months leading up to the October vote.

Then, pffft.

Last month the country actually shed jobs (when economists expected 15,000 more). But that’s just the half of it. Over 40,000 people lost their month in manufacturing and construction. More than 16,000 full-time employees with benefits were replaced by 14,000 part-timers. The biggest areas of job gains – government (20,000) and the real estate/finance biz (18,000).  Great. More civil servants and realtors.

Now, in fairness, the monthly jobs stats are as predictable as this blog. And wage gains were pretty good at more than 4%. But it sure makes an old dog suspicious.

By the way 66% of people voted on October 21st. Of those 33% (5.9 million) picked the Libs and 34.3% went for the Cons (6.1 million). So the T2 gang formed government with the support of 22% of the citizens and won 36 more seats. Can you see why Mr. Trudeau dropped his promise for electoral reform? And why Alberta’s pissed?

Okay, on to something happier: Mr. Bond Market.

In case your spouse asked you during an intimate moment this morning, “Yes, but how big is the bond market, lover” here’s the answer. In the US it’s $10 trillion bigger than stocks. Trading is huge – $700 billion or more a day. And debt just keeps growing, as you know, with governments constantly issuing new bonds. So small changes can have big implications everywhere.

Earlier this week we told you the recession had been called off. Yay. Better-than-expected corporate profits. Good US jobs numbers (unlike ours). A steady-eddy Fed report. Easing of US-China trade tensions. The potential of tariffs being rolled back. A second term for pro-business Trump.

All of that has propelled stocks to new heights. The highs are higher. The lows are higher. Money is flowing from the margins to the centre. Bond prices have tanked as yields surge. Preferreds up. Gold plopped. No need for ‘safe haven’ stuff when the party’s all equities. And while the quixotic president could take the punchbowl away with a single Tweet, the odds are he won’t. Or if he does, he’ll pivot back. The man is obsessed now with 2020.

Remember the inverted yield curve? How could you forget? That’s when the amount of interest paid by short-term debt (of a few months, for example) is higher than the yield on long stuff (a decade or more). It shows Mr. B. Market is expecting future growth to dissipate, inflation to crash and the economy contract. Last summer it was all the talk as the amount of interest paid by 10-year US Treasuries plunged to 1.4%, sending bond prices surging. Money coursed from stocks to bonds. The doomers flooded into the comments section. Guts everywhere.

Now it’s all changed. On Thursday the biggest jump in yields of the Trump presidency took place, and that 10-year note is again near the 2% level. In the bond world, that’s big. The signal now is not for recession, but growth.

The thinking is that the Fed, in raising rates nine times, might have been a little too frisky in its monetary policy. So when the US economy staggered a bit (and as Trump sharpened the trade war) the central bankers backed off. Three rate cuts have ensued, and the expectation is America may be achieving that mythical ‘soft landing.’ That’s when an economy cools and stabilizes after a period of growth, but avoids crashing into a job-killing crater. No smoky hole in the ground. Instead, a safe descent.

So, new records this week. Thus far in 2019 the Dow is ahead 18%. The S&P 500 is up 23%. Bay Street has added 17%. A balanced and diversified portfolio has plumped 10%, and with far less volatility.

Anything could happen to throw the numbers off. But for investors this has been a helluva year. Now that the bottom has been made for interest rates there’s more certainty about what lies ahead. At least in the States.

Four years from now there will still be a President Trump. But a Prime Minister Trudeau?

105 comments ↓

#1 Flop... on 11.08.19 at 4:00 pm

My sloppy Southern Hemisphere education is letting me down again.

I thought Wexit was a portmanteau for Western Exit.

Then I got woke and realized it was a portmanteau for Wedge issue at next election…

M45BC

#2 Dave on 11.08.19 at 4:15 pm

BC is in terrible shape…more sawmill shutting down. Some temporary and dome permanent shut downs. Hmmmm…perhaps we dont need that much lumber with real estate crashing down?

Alberta and Saskatchewan is done…doom and gloom is the long term forecast.

West is shot and the federal government is too far away to hear the crying

#3 Leo on 11.08.19 at 4:20 pm

Of course we were lied to during the election… everyone lies… politicians do it for a living.

#4 OakvilleHousing on 11.08.19 at 4:22 pm

Will housing get more expensive? Detach in particular?

#5 Flop... on 11.08.19 at 4:26 pm

In case your spouse asked you during an intimate moment this morning, “Yes, but how big is the bond market, lover” -Thor Turner.

Simple answer.

It’s bulging…

M45BC

#6 The Wet One on 11.08.19 at 4:42 pm

But what about pork bellies Garth?

How’s that market doing?

Also the Baltic dry?

Help a guy out would ya?

#7 The Wet One on 11.08.19 at 4:44 pm

Also, Leo at #3 has it dead right.

You were a politico once. You know how the political game gets played.

So there’s really nothing to say about the election except that such are the fruits of first past the post.

It’s a great system, right?

#8 tccontrarian on 11.08.19 at 4:47 pm

“Three rate cuts have ensued, and the expectation is America may be achieving that mythical ‘soft landing.’ That’s when an economy cools and stabilizes after a period of growth, but avoids crashing into a job-killing crater. No smoky hole in the ground. Instead, a safe descent.”
– – – –

That ‘soft landing’ you’re talking about – well, at least you do realize that it’s ‘mythical’, and therefore unhinged from the real economy.

My Crystal ball is showing a less rosy future (but it’s not good at predicting exact timing): the economy (and markets) will have similar descent characteristics as the The 2 Boeing 737-Max’s. Of course, it all appears ‘normal’ … until not.
The difference here is that Mr. Market allows plenty of opportunity to ‘jump off’ to safety – as opposed to the unfortunate folks trapped in the 737’s.

I’ve spent all week adding to my short positions – now at about 5-6% of portfolio. Will add if they continue higher. I remember how everyone was happy (and complacent) with all those ‘gains’ in Sept. 2018. By end-2018, those ‘gains’ turned out ‘mythical’ as well. Don’t let history repeat, because it will (well, it will rhyme anyway).

TCC

#9 BL on 11.08.19 at 4:49 pm

Trump said he hasn’t agreed to roll back the stick, and give out carrots

https://www.cbc.ca/news/business/trump-china-tariffs-1.5352727

#10 not 1st on 11.08.19 at 4:51 pm

Yes Garth Trudeau lied. He lied last election. he lied during his entire first term. He lied before this election, during it and now after it.

#11 BlogDog123 on 11.08.19 at 4:58 pm

Happy with the markets/returns this year.

Who was feeling down-and-out a the end of 2018, early January, only to be vindicated with the balanced and hold…

#12 Moh on 11.08.19 at 4:58 pm

Another good one Garth. Can’t for a new decade! What a time to be alive in!

#13 Okotokian on 11.08.19 at 4:59 pm

Trump’s toast in 2020. Didn’t bring those factory jobs back. Started a stupid trade war with China which hurt the farmers. More coal jobs gone than ever before. He over promised and under delivered. Those key states won’t be bamboozled by this grifter again.

#14 Moh on 11.08.19 at 5:03 pm

LOL Michael Bloomberg 2020

#15 Sovavia on 11.08.19 at 5:08 pm

(1) Jobs are a lagging indicator; remember everyone worrying about PMI indicators in the stock market; anticipating a positive jobs number made no sense.

(2) Listening to bank economists is hazardous to one’s financial wealth (and mental health to boot).

(3) Rex Murphy had a great line about the wisdom of dogs: trust your nose.

#16 Sitting on the toilet thinking on 11.08.19 at 5:08 pm

But I was always told not worry about the inverted yield curve but instead the bear steepener. That is what signals a recession has already started.

#17 domain on 11.08.19 at 5:29 pm

“Now it’s all changed. On Thursday the biggest jump in yields of the Trump presidency took place, and that 10-year note is again near the 2% level. In the bond world, that’s big. The signal now is not for recession, but growth.”

Recessions start after the inverted yield curve un-inverts. A steepening curve here is a message of caution, not a message to abandon caution.

#18 Sail Away on 11.08.19 at 5:49 pm

Trudeau is a liar, Trump is a liar… blah. Probably because they’re both in politics.

It’s good to see Garth has accepted Trump will remain for another term. All that’s left now is to also accept that Trump is effective.

#19 gfd on 11.08.19 at 5:51 pm

https://www.huffingtonpost.ca/entry/ray-dalio-capitalism-broken_ca_5dc57912e4b02bf5793ea61c?utm_hp_ref=ca-homepage

BUSINESS
11/08/2019 15:30 EST
Ray Dalio, Founder Of World’s Largest Hedge Fund, Declares ‘The World Has Gone Mad And The System Is Broken’

Equality of opportunity is dying in an era when central banks are gaming the global economy, Dalio says.

#20 espressobob on 11.08.19 at 5:56 pm

Asset classes bob and weave. Rebalancing once in a while keeps the ball rolling in terms of growth of ones portfolio.

Tough timing the markets. Why bother?

#21 Linda on 11.08.19 at 5:57 pm

Overall the political news at the federal level has been somewhat subdued since the election. Ms. May stepped down; Mr. Scheer is trying to keep his job & Mr. Trudeau has issued invites to meet with possible allies as the Liberals work on forming a government. Any guesses as to how long it will be post election for the Liberals to announce who will be supporting them? What is the average time for a minority government to return to business as usual post election?

#22 Yukon Elvis on 11.08.19 at 6:05 pm

#5 Flop… on 11.08.19 at 4:26 pm
In case your spouse asked you during an intimate moment this morning, “Yes, but how big is the bond market, lover” -Thor Turner.

Simple answer.

It’s bulging…

M45BC
…………….

I wish I could unread that.

#23 Mr. Nirp on 11.08.19 at 6:10 pm

#13 Okotokian on 11.08.19 at 4:59 pm
Trump’s toast in 2020. Didn’t bring those factory jobs back. Started a stupid trade war with China which hurt the farmers. More coal jobs gone than ever before. He over promised and under delivered. Those key states won’t be bamboozled by this grifter again.

WRONG! HE WILL BE BACK FOR 2 MORE TERMS! TOTAL = 3 TERMS

#24 Sail Away on 11.08.19 at 6:10 pm

When I was young there was doom foretold over overpopulation, pollution, climate change and the future world our children would have to suffer through. And oil was going to be all used up in 15 years.

Now that my kids are having kids, things are… oh, pretty much the same. Bet it’ll be pretty much the same for their kids kids.

#25 Xpat on 11.08.19 at 6:19 pm

Always do the opposite of TCC. Kind of like Mark.

#26 [email protected] on 11.08.19 at 6:50 pm

In rising bonds, what etf could one buy, cpd.to? Any suggestions are greatly appreciated, have a great weekend.

#27 espressobob on 11.08.19 at 6:55 pm

#19 gfd

Following a hedge fund manager has generally proven destructive to ones cause.

Bad thing to be a lemming.

#28 Hellyeah on 11.08.19 at 6:56 pm

“Four years from now there will still be a President Trump.”

Dog help us.

#29 Debtslavecreator on 11.08.19 at 6:59 pm

The Canadian economy is a farce and has been for decades. It’s nothing more than an oligarchy like structure with economic rents being extracted by the RE/construction, large banks and insurers, public sector unions and a small # of large corps running the show
We persistently post Low productivity growth , investment growth and R&D spending
Yet gdp and nominal asset prices are artificially goosed as the massive non self liquidating debt bubble continues to defy gravity and grows so that the fake home prices and fake prosperity keeps going
Sadly and cruelly, the RE bubble is fooling the average Joe into thinking they’re getting rich but they’re actually being taxed – the massive subsided debt bubble artificially inflates shelter costs and GDP/incomes upon which real taxes and insurances are paid hence the debt bubble is steadily taxing away disposable income and its forces more and more wage/salary earners to go into debt to sustain their fake prosperity
Then the resentment and anger boils up
CMHC / Bank of Canada and reckless financial choices made by the average person are to blame
And you’ve seen nothing yet folks
You won’t believe where we’ll be 5 years from now

#30 leebow on 11.08.19 at 6:59 pm

#25 Xpat

You are falling into the known trap. It should be not opposite, but inverse.

#31 Shawn Allen on 11.08.19 at 7:12 pm

The Loser’s Refrain

There’s no point trying: “The system is rigged”

My failure to launch is not my fault.

“The system is rigged”. A cop-out that is meant to end all discussion.

#32 Shawn Allen on 11.08.19 at 7:15 pm

Bad to be a Lemming?

#26 espressobob on 11.08.19 at 6:55 pm
#19 gfd

Following a hedge fund manager has generally proven destructive to ones cause.

Bad thing to be a lemming.

*******************************
Warren Buffett has written that while lemmings as a species have a bad reputation, “no individual lemming has ever gotten bad press”.

His point being that it always safe to fail as part of the crowd. It’s not then your fault.

#33 SunDays on 11.08.19 at 7:15 pm

“In Canada, residential construction, real estate services, and credit intermediation are now nearly as large as the energy and manufacturing industries combined”

https://twitter.com/BenRabidoux/status/1192467781276581889

Nothing to see here. Keep Calm and Hug Your Realtor.

#34 Shawn Allen on 11.08.19 at 7:22 pm

#28 Debtslavecreator on 11.08.19 at 6:59 pm complained:

The Canadian economy is a farce and has been for decades. It’s nothing more than an oligarchy like structure with economic rents being extracted by the RE/construction, large banks and insurers, public sector unions and a small # of large corps running the show

**********************************
If only it were possible for individuals to get in on such by buying bank shares, the shares of real estate and construction companies and/or the shares of insurance companies or other large oligopolistic corporations.

Or to get a union or public sector job.

It’s so unfair that those things are impossible.

#35 crowdedelevatorfartz on 11.08.19 at 7:24 pm

Will US president Trump salute Russian Troops in Moscow next May during an election year?

https://www.dianomi.com/click.epl?url_id=508938808&ru_variant_id=102

Only The Donald knows for sure.

#36 The bull on 11.08.19 at 7:28 pm

DELETED

#37 Cici on 11.08.19 at 7:28 pm

A USD GIC I had just came to term so I cashed out. What are my best investment options? Or should I cross the border and go full-on a family-style Target/Walmart spending spree? Or set up house in a trailer park?

Free advice much appreciated, pretty please!

#38 Shawn Allen on 11.08.19 at 7:29 pm

Sad that most consumers never think to buy shares in the companies they shop at.

Years ago I had the idea that it should be possible to pick up a few shares of Costco or Tim Hortons right at their check outs. This would be restricted to large corporations already on the stock exchange and could even be restricted to profitable companies.

We have Normal course issuers bids (buy backs). It is really a shame that corporations in general can’t sell shares easily like that to the public. ANYONE can sell their shares of Costco at any time – except Costco itself.

Anyone can sell shares in Royal Bank with ease – except Royal Bank who first has to issue a special prospectus and pay fees to investment bankers.

This system is meant to protect investors but coincidentally? protects the investment banks who earn fees if RCB does decide to issue shares.

ETFs are great but there might not be a lot of harm in making it super easy for people to buy a few shares of companies where they spend their money – and only if the company wanted to issue shares of course.

As someone here said: Own the means of production of the products and services the masses buy.

As Buffet said Own your share of corporate America and over decades you will do well.

#39 Shawn Allen on 11.08.19 at 7:31 pm

Say What?

#29 leebow on 11.08.19 at 6:59 pm
#25 Xpat

You are falling into the known trap. It should be not opposite, but inverse.

****************************
Is that a triple negative?

#40 crowdedelevatorfartz on 11.08.19 at 7:33 pm

#Sail Oy Vey !
“When I was young there was doom foretold over overpopulation, pollution, climate change and the future world our children would have to suffer through”
+++++

Let me guess .
When you were young there were 4 billion mouths to feed…..now there’s almost 8 billion…..
Thats a lot of hamburgers and fries….

” the global population reached four billion in 1974, five billion in 1987, six billion in 1999 and, according to the United States Census Bureau, seven billion in March 2012….”

Oh.
A friend went to KentuKy Fried Chicken to get dinner for Hubby and the brats( they wanted grease so she obliged).
She said “skip the dishes” was in there picking up at least 4 different orders……
Amazing how much society has ‘advanced”
People are too lazy to even pick up shitty food now….

#41 Long-Time Lurker on 11.08.19 at 7:37 pm

Dedicated to The Greater Fool Community. Hee hee!

https://www.youtube.com/watch?v=JnmFPFQd9CI

#42 Cici on 11.08.19 at 7:43 pm

Oh, and tonight I’m raising a glass (or a bottle…we’ll see how the night progresses) of Canadian Club to my temperamental friends and family in Alberta.

Going forward, Fridays would be a good night to devote to Canadian Rye until Alberta gets back on it’s feet again. I call on all blawg dogs to join in on the fun and share any genius ideas about how the province can reinvent itself while waiting for black gold to make a comeback. Lord knows there must be tons of unharvested opportunities in a low-tax province with low inflation and a large pool of highly skilled/educated workers?

#43 Stan Brooks on 11.08.19 at 7:46 pm

#28 Debtslavecreator on 11.08.19 at 6:59 pm

+ understated inflation overstates GDP ‘growth’.

The ever (and fast) increasing cost of living for those who don’t sustain on watching house and real porn on cheap TVs and on photosynthesis, but have to eat, have shelter and heating and use some services and medication, send their kids to school puts very quickly the average Joe further in debt and very soon in need to sell assets (if lucky to have any) just to survive an increasingly miserable life of higher taxes, a lot of stick and very little carrot.

What is interesting is how much the sheeple hangs on to the ‘G7’ and ‘developed country’ archaic stupidities from the past at times when most, if not all of the manufacturing is outsourced to ‘developing countries’, we produce mostly house and paper shuffling derivatives and are born and constantly get deeper in debt.
I guess one needs validation for their importance and superiority ‘success’ in life by inventing more and more imaginative ‘facts’ behind the smoke and mirrors of the grand robbery they are subjected to.

The ganja was legalized for a reason. You have to be high or asleep to believe such stupidities.

#44 leebow on 11.08.19 at 7:46 pm

#34 crowdedelevatorfartz

As much as I despise Trump, it would be a wise thing to go. And salute. Not troops but the veterans. Bring a bunch of US WW2 veterans along, so that Putin can salute them. And he will. About 75% of Russia’s foreign policy can be explained by WW2. Grossly misunderstood in the West, at a huge cost to everybody involved. Very well understood by Chinese though.

#45 Stan Brooks on 11.08.19 at 7:58 pm

#33 Shawn Allen on 11.08.19 at 7:22 pm

If only it were possible for individuals to get in on such by buying bank shares, the shares of real estate and construction companies and/or the shares of insurance companies or other large oligopolistic corporations.

Or to get a union or public sector job.

It’s so unfair that those things are impossible.

Your inability to comprehend basic economic concepts and laws is quite astonishing, but your persistence in it is absolutely amazing and exemplary for the quality and depth of the mental processes inhibited by the average sheeple.

You keep advocating for everyone to jump on on the extraction part of the economy vs. the productive one and somehow you keep believing that this will save you and make you successful in continuing extracting water from a stone, and allow you to prosper while the society is impoverished.

What you advocate for was exactly why socialism failed in the former communist block besides the fact that they had at the time still much more decent manufacturing and services than us at the moment.

You are precisely at the level of the 2nd floor of a 100 floors building after jumping from the top of it and keep announcing: ‘there is no ground’ while fast accelerating to impact… which will be epic.

#46 leafeataz on 11.08.19 at 8:00 pm

#10 not 1st on 11.08.19 at 4:51 pm

Yes Garth Trudeau lied.”

Garth Trudeau?????Was he adopted (abducted) into that renowned clan while I was sleeping

Eats shoots and leaves indeed!

#47 crowdedelevatorfartz on 11.08.19 at 8:07 pm

@#43 leebow
“About 75% of Russia’s foreign policy can be explained by WW2. Grossly misunderstood in the West, at a huge cost to everybody involved. ”
++++

Fair enough.
If it wasnt for the “meat grinder” of the Russian Front killing or capturing a million German troops we might all be speaking German today.
I just dont think Trump can resist pulling some tasteless stunt while the worlds cameras are there.

#48 Millennial Realist on 11.08.19 at 8:16 pm

“Four years from now there will still be a President Trump.”

So cute and Paleo Boomer delusional, Garth.

We know that your support for Andrew Scheer was very obvious and transparent on this blog.

And how did that turn out?

Change is at the doorstep. Trump is now halfway through his eighth decade, a typical early Boomer, and about to become irrelevant.

Be part of the change, Boomers.

Or be run over by it.

#49 Shawn Allen on 11.08.19 at 8:19 pm

Stan says:

we produce mostly house and paper shuffling derivatives and are born and constantly get deeper in debt.

**********************************
Stan, there is no “we”. I have not produced any houses nor am I in debt. Your debts are not my debts.

What exactly do you produce?

Thanks though for your response above. Entertaining.

#50 Nonplused on 11.08.19 at 8:20 pm

111 Don (yesterday)

Thanks! Yes I am an engineer but I only did that for a few years before I moved into analysis and business. That was back in the day when anyone who could code could get pretty much any job they wanted because new jobs were springing up that never existed before after deregulation. I probably couldn’t do it that easy today because the universities are pumping out so many specialists now.

#13 Okotokian

Trump’s promise to the coal industry isn’t working because natural gas has become the preferred fuel of the electricity industry because it is cheap and much cleaner burning. What is interesting to me about that is not that Trump didn’t understand that, most people don’t, but that the market has moved to a cleaner burning fuel with about half the CO2 emissions all on its own without any help from government.

Unfortunately for the coal industry, as long as gas remains cheap and abundant, coal isn’t coming back unless it’s for export. But from an environmental point of view, that doesn’t really help anything. It just moves the exhaust stack somewhere else.

——————–

Word is that Micheal Bloomberg is considering entering the election for the Dems. Apparently he is convinced nobody currently in the field has a chance against Trump (and he is correct).

Now, whether Bloomberg has a shot against Trump or not I don’t know, I haven’t seen him speak at rallies or debate before. But he has a few ticks on his resume that make him look like a much better candidate than Warren or Biden:

– Self made billionaire
– Mayor of New York (he can get votes in one of the most important states)
– Household name on Wall Street (this will raise far more campaign donations than the other candidates)
– Is seen as a centrist
– Both business and political experience
– Won’t be scaring the bejezus out of people with socialist talk
– Can match many of Trump’s supposed credentials
– Has not claimed to be 1/2020 native or to have had Ukrainian prosecutors fired

So all I really need to see if he does throw in is if he has Trump’s persuasion skills, which Hillary did not. If he can sell out stadiums and get the crowds cheering and laughing, grab the popcorn because it’s game on!

But of course I’m thinking if Bloomberg becomes a serious consideration it’s good for Trump in one way: Bloomberg has probably used all the same sorts of tax treatments that Trump has (who knows they might even have the same accountants) so the tax return question goes away. That line of politics goes away if you have your own billionaire running. Even if Bloomberg releases his tax returns, Trump can probably then do the same because there probably isn’t much difference in how they were filed. And probably neither of them did anything illegal, the IRS has been auditing both every single year for a long time. Large corporations don’t just fill out a form like you and I do, it’s an ongoing negotiation. The only thing that will be surprising for most people is just how different and more complicated calculating corporate taxes is from personal taxes, but most people will switch to an NFL game long before they understand it.

Right now I have the odds of Trump getting a second term at 90%. But if Bloomberg enters the race I’m going to lower that to 55%. My guess is the DNC is busy running polls to see how he would do and the decision will be made based on that. His main problem is that he won’t have the same sort of name recognition outside New York and the office towers all across the land as Trump had from The Apprentice. If you have worked in an office tower, chances are good that you have had contact with a Bloomberg terminal or at least know what one is. Not so much if you haven’t.

—————–

#23 Mr. Nirp

“WRONG! HE WILL BE BACK FOR 2 MORE TERMS! TOTAL = 3 TERMS”

FIRST OF ALL SHOUTING IS RUDE!

But second of all the US system specifies term limits for the president and it is 2. It would require a constitutional amendment to extend it to 3, and I think that is about as likely The Proud Boys and Antifa becoming drinking buddies. It’s not like the Canadian system which does not have term limits. If there were no term limits in the US, Obama would likely still be president. I don’t think even Trump believed he could beat Obama in 2012, which may be a reason he did not run in that election. Despite his many flaws, people like Obama. They still like him now. If he could run again, he might beat Trump in 2020. He’s hard not to like. But he can’t run again same as if Trump wins 2020 he cannot run again in 2024. These laws will not be changed.

——————

The thing that I can’t figure out is why anybody would run for President. Or Prime Minister for that matter. As Garth has recounted here before, politics is nasty. It’s all lies, coercion, and mudslinging. You become an involuntary actor in a reality TV show put on by the MSM. Every policy put forward is met by resistance from somebody. And it’s decaying to the point where that resistance now often turns violent and people get hurt and occasionally killed.

This impeachment thing is a classic example. We have the transcript. There is no “there” there. There was no crime. It’s a farce. Everyone knows it does not pass the senate. All republicans voted against in the house, and they control the senate. It’s dead. The only bipartisan thing about it was that 2 democrats voted against. But it is all CNN has to sell ads 24 hours a day. There just isn’t 24 hours worth of news in a day, so they make most of it up.

#51 WUL on 11.08.19 at 8:23 pm

#41 Cici on 11.08.19 at 7:43 pm

“Going forward, Fridays would be a good night to devote to Canadian Rye until Alberta gets back on it’s feet again.”

oil..oil…oil…

Thx for the shout out and support. Might help to add Saturdays through Thursday.

Here in the Mac we have made that change. There is a 12 mile stretch of rough logging road between us and black gold making a comeback.

From the Taiga,

WUL

#52 Ustabe on 11.08.19 at 8:23 pm

I had a thought today…

Exit Wexit, the Musical.

Along the lines of Come From Away, we write a musical about the cod moratorium only drawing the parallels between the devastation that wrought upon the Atlantic provinces and the coming devastation slowly unwinding itself on Alberta.

Then we tour Alberta from High River to Coutts, from Cherry Point to Lloydminster, there will be dancing, singing and educational fun!

Garth can be the Producer, we’ll get CBC to film a “making of” documentary and I’m sure the federal government will pop for grants and etc.

I’ve been pretending to be an adult for some time so I can act…I’d rather become the guy in charge of the dancer’s dressing room security tho.

Anyway, more to come as we advance this wonderful initiative.

See? Solutions instead of problems.

#53 leebow on 11.08.19 at 8:30 pm

#46 crowdedelevatorfartz

That’s a valid concern. The dimwit just can’t help it.

#54 Long-Time Lurker on 11.08.19 at 8:36 pm

Hey, Smokey. Your wife is a top investor:

…Larry Williams won the 1987 World Cup Championship of Futures Trading.

He turned $10,000 to over $1,100,000 (10,900%) in a 12-month competition of live trading….

https://www.worldtopinvestors.com/larry-williams-investor-profile/

#55 PetertheSeparatistfromCalgary on 11.08.19 at 8:36 pm

If Trudeau is still in power in four years he will be the Prime Minister of a Canada that does not include Alberta!

#56 Millennial Realist on 11.08.19 at 8:49 pm

Some brilliant analysis here:

https://www.goodreads.com/book/show/30841993-a-generation-of-sociopaths

“A Generation of Sociopaths: How the Baby Boomers Betrayed America”

Boomers were NOT responsible for the civil rights movement – most of them were barely toddlers at the time!

In fact, Boomers are the most responsible for attempting to roll back social progress since the 1970s!

Generous old age benefits are now tied to the Boomer vote, as well as resource depletion at the expense of everyone else. This is a bizarre diversion from normal social and economic policy.

Ok, Boomers!?

We KNOW what your generation has really meant for the world.

#57 Paul on 11.08.19 at 9:05 pm

#39 crowdedelevatorfartz

Oh.
A friend went to KentuKy Fried Chicken to get dinner for Hubby and the brats( they wanted grease so she obliged).
She said “skip the dishes” was in there picking up at least 4 different orders……
Amazing how much society has ‘advanced”
People are too lazy to even pick up shitty food now….

___________________________

Man, your friends / acquaintances / work colleagues ancedotes are not inspiring . :-)

#58 crowdedelevatorfartz on 11.08.19 at 9:16 pm

@ OK Millennial Surrealist

Have you heard that vinyl LP’s are making a comeback?
Of course you did.
Because you sound like a skipping record…..

#59 Tc on 11.08.19 at 9:48 pm

You PhD separatists don’t know your drill hole from your other one. What exactly do you think the benefit of separating will be? You think you’re smarter than the dingbats in the UK who thought separating was a good idea? Grass is always greener, innit?

#60 Lorne on 11.08.19 at 9:53 pm

#54 PetertheSeparatistfromCalgary
If Trudeau is still in power in four years he will be the Prime Minister of a Canada that does not include Alberta!
……..
Promise?

#61 Steven Rowlandson on 11.08.19 at 10:03 pm

“And wage gains were pretty good at more than 4%. ”

Garth do you consider this to be inflationary?

#62 Jesse on 11.08.19 at 10:08 pm

Re: ‘Ok Boomer’

Have faith Garth, in the battle between Zoomers, Doomers and Boomers – the 30 year old Boomer reigns supreme!

30 Year Old Boomers Go Fishing: https://youtu.be/Rr8QaMlSLjE

#63 Dutchy on 11.08.19 at 10:43 pm

15 months from now we will still have Prime Minister Trudeau, but down south President Trump ?

#64 Tony on 11.08.19 at 10:45 pm

Gee, would the Federal civil service lie to us to protect the Liberals?

The Environment Department lies to us about climate crisis by eliminating historical temperature data.

#65 TRON on 11.08.19 at 10:50 pm

I have noticed a considerable number of Starbucks closing down in Vancouver. Since 1985 I can’t remember any closing. The street tells the real story and Vancouver is hurting. Robson street is for lease, everywhere. So many sandwich boards offering deals and happy hour that it’s getting tough to navigate the sidewalks. Hopefully we return back to a simpler time when it was easy to find parking and no line ups for all the great haunts that got yelped. I miss 1979

#66 Dutchy on 11.08.19 at 10:54 pm

If the Cons do not change their blueprint and keep Andrew Scheer as leader T2 will be in charge for some time yet.

#67 Ponzius Pilatus on 11.09.19 at 12:23 am

Wait a minute.
Trump may not be responsible for the Dow gaining record highs.
Cash rich companies buying back their own stock could drive up the prices.
And make their executives rich.
https://m.spiegel.de/wirtschaft/boerse-aktienrueckkaeufe-treiben-kurse-in-den-usa-nach-oben-a-1295095.html

#68 Nonplused on 11.09.19 at 12:30 am

#57 crowdedelevatorfartz

Vinyl records are making a comeback? Where? When? With whom? Why?

Is 35 mm film making a comeback too? What about the 8 track tape?

Fact is some things get replaced for a reason. Digital recording has a much greater dynamic range, 100% flat natural frequency response (any attenuation comes from the mic and speakers, not the computer) , no noise created by the mechanical media, as well as being infinitely more compact. Remember what a jukebox used to look like? And that might have 200 songs. Now you can store over 5000 on your phone and the sound quality is way better.

Vinyl is never making a comeback. Many things will never make a comeback.

I’ve even noticed this with kid’s toys. Remember the hours you spent with your electric race cars? Well, maybe you don’t but I do. My son got a set for Christmas some years back, and I spent probably 2 hours setting it up on the ping pong table. When it was done he proceeded to do perhaps 20 laps and went back to Mario Cart. I eventually gave it away, because nobody would pay anything for it. Some of the replacements I’ve already noticed:

– Race cars – Mario Cart
– Lego – Minecraft
– TV – YouTube
– Nerf guns – First person video games
– Playboy magazines – Playboy.com
– Books – internet
– Air cooled engines – Larger displacement water cooled and small displacement electric. Even chainsaws are battery powered now. And of course lawn mowers.
– Air tools – again battery powered.
– Taxis – Uber
– Delivery – Skip
– Bank tellers – bank machines
– Pianos – keyboards
– Play dates – Minecraft parties
– Science kits – more Youtube
– Jumper cables – boost boxes
– headphones – wireless headphones
– phones – cell phones
– MySpace – Facebook
– Phone modems – Now you have a modem and not a phone line

The list goes on and on and on. Pretty much nothing is done today the same way it was 10, 20, 50, or 100 years ago, and for good reason.

I have thousands and thousands of dollars invested in legacy air, corded, and gasoline powered tools that I use occasionally, including a gas powered chain saw. But now you can go down to Home Depot and spend $500 and have a battery powered version of all the tools you need. I mean all of them for $500. Except the chain saw, add another $200 if the demolition saw that comes with the kit isn’t enough for your purposes. Everything is so much better that I am thinking of buying the kit even though I already have corded versions of all the tools that I spent a lot of money on.

Except I have a cordless drill of course. It’s been many years since any self respecting man didn’t have one of those. They are so damn handy. 80% of your problems around the house can be fixed with a cordless drill. Now, it turns out, most of you other household problems can be fixed with a cordless tool too, all using the same batteries. My batteries for the cordless drill are going, so I am seriously looking at a kit that includes a cordless chainsaw. I mean how often do you actually use your jigsaw or your circular saw, and for how long? They both come in the battery powered kit now, for a lot less money.

The trend isn’t going to change. Certain deployments like a carpentry shop will always need corded tools because they are running all day. But around the house a gas powered trimmer is a thing of the past.

#69 Nonplused on 11.09.19 at 12:51 am

#60 Steven Rowlandson on 11.08.19 at 10:03 pm
“And wage gains were pretty good at more than 4%. ”

Garth do you consider this to be inflationary?

Steven, I don’t know what Garth thinks, but I do not think it is inflationary in the short to medium term. Wages have been so far behind inflation (after tax) for so long now that people have been borrowing money for 20 years just to pay the bills. When you see the debts start to come down, indicating that people are finally starting to catch up, you might then see some inflationary pressure. But probably not before.

Debt is a funny thing. It can cause inflation when money is made available to people so they can buy things they need or just want when income doesn’t suffice. It works good for say someone who wants to by a camping trailer or a new car but can’t put down $30,000 in on go, but they can pay for it over the useful life of the product. That helps things keep moving. But when debt is being used to pay for the kid’s piano lessons or just to get food, or the municipality is accepting Visa for property taxes, it’s bad.

Garth has often compared Canadian’s debt addiction to other countries and often with scorn, and rightly so. But it is a mistake to assume that Canadians are inherently stupid compared to the rest of the world. If, and it is a big if, Canadians ever do see wage gains that are above inflation because we have proper government (not Trudeau), debt will fall before inflation takes hold (assuming the inflation is not caused by imports of Saudi oil into Quebec, or other imports). Thus, as we have seen 20 years of inflation with no real wage growth as they lowered interest rates, it is within the realm of possibility that we could see 20 years of wage growth with modest inflation. Everyone has a whole ton of debt to pay off. The assumption has always been that every Canadian will spend every dollar that they earn and borrow every dollar made available to them. But I don’t know if that’s true. If the day ever comes that they can pay the bills and have some left over, some of them will pay down debt. That is not inflationary. It may be deflationary.

#70 Jenny Wang on 11.09.19 at 2:11 am

DELETED

#71 Smoking Man on 11.09.19 at 3:37 am

Long-Time Lurker on 11.08.19 at 8:36 pm
Hey, Smokey. Your wife is a top investor:

…Larry Williams won the 1987 World Cup Championship of Futures Trading.

He turned $10,000 to over $1,100,000 (10,900%) in a 12-month competition of live trading….

https://www.worldtopinvestors.com/larry-williams-investor-profile/

…..

She’s up to 2.2million. I have tax problem now.

She’s not offshore. She’s a Canadian destroying CFDs not allowed in America. She has green card.

I’ll figure it out..

Fk

Us tax attorney please contact me..

#72 maxx on 11.09.19 at 7:25 am

#32 SunDays on 11.08.19 at 7:15 pm

“Keep Calm and Hug Your Realtor.”

What a perfectly grotesque thought.

#73 Jenny Wang on 11.09.19 at 7:42 am

Gerry Butts and Trudeau killing more energy companies than windmills and fairy farts can ever replace.

https://business.financialpost.com/investing/value-of-alberta-energy-assets-for-sale-has-doubled-since-last-year-but-buyers-are-scarce

Chaos and thousands more jobs bleeding into the US every day now.

#74 crowdedelevatorfartz on 11.09.19 at 7:42 am

@#67 & 68 Nonplused = minus

“Your Jabberwockey…”
*****

geez, who let you near the keyboard after the meds?
You’re like a squirrel on benzedrine.

#75 crowdedelevatorfartz on 11.09.19 at 7:45 am

@#56 Paul
“Man, your friends / acquaintances / work colleagues ancedotes are not inspiring . :-)”
++++

True.
But they do have amusing stories to share and it makes my time in the elevator that much more fulfilling.

#76 majik on 11.09.19 at 7:46 am

#67 Nonplused

Here ya go….

“Vinyl Is Poised to Outsell CDs For the First Time Since 1986”

https://www.rollingstone.com/music/music-news/vinyl-cds-revenue-growth-riaa-880959/

#77 crowdedelevatorfartz on 11.09.19 at 7:48 am

@#69 Jenny Wang
DELETED
+++++

Striving to break the record for “Most Deleted” category in 2019 I presume…..

#78 Millennial Realist on 11.09.19 at 7:54 am

“Change is coming whether you like it or not.”

Greta Thunberg

https://ca.yahoo.com/news/greta-thunberg-heckler-climate-rally-charlotte-204015615.html

Boomers, be part of the change.

Or be run over by it.

(Or, another option, just get the hell out of the way!)

OK, Boomers!?

#79 Sam on 11.09.19 at 7:58 am

Go trump go !!

He’s running trillion dollar deficit with UE under 4% and the debt ceiling has been removed .

But no one cares as the market is into new highs

What possibly can go wrong ?

#80 crowdedelevatorfartz on 11.09.19 at 7:59 am

@#6 Ok Millennial
You read a book?
*****

Well if the “one star” review on Amazon by a Millennial is any indication….. I think we should give it a pass.
And I quote……

“If you are going to read this book, something you have to keep in mind is that the author is an extremely wealthy and successful investment banker and venture capitalist. Throughout the book, he fails to see that what has actually caused the problems in America that he points to in the data such as the decrease in savings rate, increase in cost for college, failure to address environment change, and discrediting of science are people exactly like himself. He uses broad generalizations about cherry-picked quotes from a single book on psychology to support random points, basically saying that anyone who exhibits any of these behaviors to any extent must be a “sociopath”……”

She continues with some excellent points.

Sorry “OK Millennial’ but even your own generational cohort thought the book was cutesy drivel.

But I am impressed that you have the attention span to actually read something longer than the latest Marvel Comic

#81 NoName on 11.09.19 at 8:29 am

#67 Nonplused on 11.09.19 at 12:30 am

I try post, but keep in on mind peopekind are all analog creatures, we feel learn and experience life analogly. Reason why many of people now now day are so miserable is loss of that analognes.

Only thing that we gained with digitalization is instant feedback loop and repackaged bulky old things in to new same and smaller. Keep on mind batteries for all those tools you mentioned are steel analog devices and probably actually most definitely part that will fail first.

Analogue is beautiful. And on a side note, that “digitalized” is much better is wrong, buddy you are just like me, half deaf. Digital sound manipulate intrinsic loudnes so music appears “crisper and cleaner” but cd/digital recording range is 1/2 or 1/3 of what LP is.

https://youtu.be/4eC6L3_k_48

#82 TurnerNation on 11.09.19 at 9:25 am

Of course T-rump will win. He’s a helluva actor and distractor.
For the same reason A. Scheer always had that cheshire cat game face smile on. He knew his role, wonder which plum role he earned for afterwards.
There’s no longer any politicking only a UN agenda in play.

My evidence? Here, super easy to rig. Just have the other person say some stuff.
Elizabeth Warren’s recent tweet. Stating that the backbone of America is actually a slim per-cent of people. Hardly the mass market needed to claim victory:
https://twitter.com/ewarren/status/1192526820559785986?s=20

#83 Bytor the Snow Dog on 11.09.19 at 9:49 am

@59 Jenny Wang

Jenny I’ve got your number,
I’m gonna make you mine.
Jenny don’t change your number…
8-6-7-5-3-0-9

#84 Dharma Bum on 11.09.19 at 10:19 am

Remember not to take your eye off Putin.

That monster can cause a lot of damage if not kept on a short leash.

Never underestimate the power of doom.

#85 NoName on 11.09.19 at 10:45 am

Hey nonplussed, going back to analogue. Digital is like electric car meant for working stiff.


That pivotal sequence in a nearly hourlong racing portion is set on the Mulsanne Straight of Le Mans — a 3.7-mile stretch where the cars can hit over 200 mph. It had changed over the past 50 years, so “we needed to create analogs to the original track,” says production designer François Audouy, who studied archival footage of the historic race. For example, “we found three and a half miles of country road outside of Atlanta.” Audouy needed six miles of track to shoot cars driving 150 feet per second, because Mangold says he didn’t want “digitally-enhanced-with-cartoon[s] car antics. We wanted to … see the pits and road and to feel the action firsthand.”

https://www-hollywoodreporter-com.cdn.ampproject.org/v/s/www.hollywoodreporter.com/amp/news/how-ford-v-ferrari-team-filmed-an-epic-race-almost-like-a-gunfight-1252141?amp_js_v=a2&amp_gsa=1&usqp=mq331AQCKAE%3D#referrer=https%3A%2F%2Fwww.google.com&amp_tf=From%20%251%24s&ampshare=https%3A%2F%2Fwww.hollywoodreporter.com%2Fnews%2Fhow-ford-v-ferrari-team-filmed-an-epic-race-almost-like-a-gunfight-1252141

Movie trailer
https://youtu.be/I3h9Z89U9ZA

#86 Remembrancer on 11.09.19 at 11:09 am

#43 leebow on 11.08.19 at 7:46 pm
#34 crowdedelevatorfartz

About 75% of Russia’s foreign policy can be explained by WW2. Grossly misunderstood in the West, at a huge cost to everybody involved. Very well understood by Chinese though.
—————————————————
Yep – in simplest terms its to have a dense border to protect the mother land so that any new invasion will be fought on someone else’s ground. Existentially speaking, post-WWII having NATO countries right at the border has got to be frightening, national-level PTSD event for those old enough to be taught by Soviets at least, but its still not a good enough excuse to be global dicks…

#87 Dr V on 11.09.19 at 11:18 am

Nonplused – re: vinyl. I am with you in that vinyl is not making a comeback with me, but I do understand some of blogger “Noname” ‘s points.

I have hundreds of classical CDs, and the sound quality is paramount for the serious listener. I have found various degrees amongst the historical labels. Sony seems consistently good, as does Naxos. Telarc has some incredible sound, but also some dogs. DG can be a bit “edgy”, Decca can have what sounds like weird equalization, and Philips can sound muffled.

With Phillips, I notice an improvement if it is simply
played at a higher volume. Also, today’s audio equipment lets you make so many adjustments you can tune things more to your liking. I found that with Dutoit’s Kodaly CD that using Dolby’s “game” sound mode brought the music to life. The penguin guide does describe it as “demonstration quality”.

But some of the best sounding stuff is from the old Mercury label from the late 50s – recorded on 3 track
tapes. the digital remastering is minimized to help
preserve the original sound.

But best of all – no clicking or popping, and minimal hiss.

#88 Armpit on 11.09.19 at 11:28 am

Folks…. just a suggestion… keep your comment to less than 2 short paragraphs. More than that, are unread by most of us, as it sounds as if you are rambling and we just skip your comment – even if its interesting.

Just a suggestion

#89 Christian nationalist on 11.09.19 at 11:35 am

Canada owes the world nothing.

#90 IHCTD9 on 11.09.19 at 11:37 am

I guess I’m just old enough to start seeing the attitudes about money, debt, and spending that was prevalent when I was growing up are no longer having much traction.

Mil in the office where I work sends me a link to a Facebook post. I open it up, and there’s one of the young guys from the floor smiling and shaking hands with a salesman in front of a brand new CrewCab 4×4.

Guy is 21 years old. Truck was 68 thousand, and is probably financed at 4.5% and he got a 7 year loan – that’s roughly an 850.00/monthly bill. Guy still lives at home.

So if it’s not insane mortgage debt in the gta, it seems it’s loading up on very expensive toys out in the boondocks.

This is a growing thing out here. Young single guys with good jobs not moving out of the house, and spending huge on toys. I know another dude who is a millwright, probably makes more than me at the tender age of 23: brand new truck, TWO 12k atv’s, and this past summer he bought the new Honda Talon X SxS that just came out – these run about 28 grand. Guy still lives at home. Another early 20’s guy I know bought an 80k bass boat last year.

This kind of stuff did not happen AT ALL when I was that age. The goal was getting out of your parents house, and for most getting a home and a family of your own on the go.

#91 Remembrancer on 11.09.19 at 12:01 pm

#88 Christian nationalist on 11.09.19 at 11:35 am
Canada owes the world nothing.
——————————————-
Great, but lets play by the rule book though…
Whatever you do to the least of my brothers, so you do unto me” (Matthew 25: 31-46)

#92 IHCTD9 on 11.09.19 at 12:13 pm

My batteries for the cordless drill are going, so I am seriously looking at a kit that includes a cordless chainsaw. I mean how often do you actually use your jigsaw or your circular saw, and for how long? They both come in the battery powered kit now, for a lot less money.
——

Do it. I bought a 40v 14” cordless chainsaw last year. It’ll do any tree maintenance (not firewood) job you need, and you’ll never have to worry about the thing starting up because the last time you used it was 3 years ago. No racket, stink, or smoke. I took a 13” diameter split off a maple this past summer, done in 3 recharges, over half a bush cord worth after stacking. Plus you can quit whenever you want and just tell the wife the battery is dead!

I am also retiring all my corded tools as they wear out, the 20v stuff is now where it needs to be on all fronts for drills and saws. Make sure you get one of those impact drivers with the quick change hex collet – I bought a full set of hex drive bits and drills, and since then; the standard chucked drill almost NEVER gets used.

#93 Yukon Elvis on 11.09.19 at 12:16 pm

#85 Remembrancer on 11.09.19 at 11:09 am
#43 leebow on 11.08.19 at 7:46 pm
#34 crowdedelevatorfartz

About 75% of Russia’s foreign policy can be explained by WW2. Grossly misunderstood in the West, at a huge cost to everybody involved. Very well understood by Chinese though.
—————————————————
Yep – in simplest terms its to have a dense border to protect the mother land so that any new invasion will be fought on someone else’s ground. Existentially speaking, post-WWII having NATO countries right at the border has got to be frightening, national-level PTSD event for those old enough to be taught by Soviets at least, but its still not a good enough excuse to be global dicks…
……………………………….

Buffer states are not as important as they used to be. Icbms and cruise missiles can strike anywhere anytime. Buffer states not necessary in the nuclear missile age.

#94 TurnerNation on 11.09.19 at 12:32 pm

Sign of the times? This REIT killed its IPO and sold privately. I believe it stated a measely 2.3% cap rate was implied.
Ironically they’d be better off closing up shop and buying XRE.TO!!!

https://www.theglobeandmail.com/business/article-apartment-reit-cancels-ipo-will-sell-to-private-buyer-for-1/

Tag this #yieldhound, #balancedport , #ChancellorRebalancer

#95 crowdedelevatorfartz on 11.09.19 at 12:39 pm

@ OK Millenial

Time to dust off your resume.
Apologies … CV …… sounds more impressive.

https://www.youtube.com/watch?v=Uo0KjdDJr1c

#96 Don Guillermo on 11.09.19 at 12:42 pm

#77 Millennial Realist on 11.09.19 at 7:54 am
“Change is coming whether you like it or not.”
Greta Thunberg
https://ca.yahoo.com/news/greta-thunberg-heckler-climate-rally-charlotte-204015615.html
Boomers, be part of the change.
Or be run over by it.
(Or, another option, just get the hell out of the way!)
OK, Boomers!?

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

Some folks are suffering from a bad case of peace, prosperity, health and life longevity and are determined to rescue us all from it whether we like it or not.

#97 IHCTD9 on 11.09.19 at 1:08 pm

#55 Millennial Realist on 11.08.19 at 8:49 pm
Some brilliant analysis here:

https://www.goodreads.com/book/show/30841993-a-generation-of-sociopaths

“A Generation of Sociopaths: How the Baby Boomers Betrayed America”
————

Frankly, I can’t wait until the Boomers get run over by the change and just throw in the towel and quit voting altogether.

This will ensure a hard left Trudeau style government just about every time. Finally, I will not have to worry about the pesky Boomer vote causing a dunce cap sporting, bank account stuffing, garage packing PM to get booted from office ever again.

When this comes to pass, I can sit back and relax as my income tax remittances drop every year, and a parade of new YAMAHA’s park themselves in my garage. Gone will be the dark days of previous governments and their useless 4 figure tax returns and 110.00/month UCC benefits. Now, I’m saying “Hello!” to THOUSANDS in CCB payments and FIVE figure tax returns. Come to Poppa Baby!

Pretty soon, I may even join the lucky 40% who pay NO income taxes at all! That’s not even mentioning the sweet DB pension increases, raises, benefit expansions, and perks I also receive via Ms. IH’s government job. It’s hard not to love a government that allows you to earn more than double the median household income, but still force-feeds your chequing account with mountains of tax free cash. Then they let us deduct our way to almost zero taxes on top. Love it!

Keep up the good work MR. I’ve definitely got your back!

#98 Damifino on 11.09.19 at 1:08 pm

#89 IHCTD9

I guess I’m just old enough to start seeing the attitudes about money, debt, and spending that was prevalent when I was growing up are no longer having much traction.
—————————————————–

A colossal understatement.

Money: It no longer exists.
Debt: An irrelevant state of mind.
Spending: The key to a better tomorrow.

#99 MF on 11.09.19 at 1:44 pm

97 Damifino on 11.09.19 at 1:08

Blame those responsible: central banks.

It’s their dumb zero interest rate policy that has shaped attitudes. People who save have been the losers.

This goes across all generations.

IH,

The boomers invented the welfare state.

MF

#100 NoName on 11.09.19 at 2:09 pm

This is whay (link) mill hate boomers, Al that stole my mambo jumbo is just general confusion cause by short attention span. Oh the horrors, even genxsers have much more than millenials.

I remember this one time we were living in a building on 23floor, so one day two watching towel dudes that I know lived few floors below knock on the door, and offers me a salavation is I join them. So I politely asked them if haven only takes 144k why they are making for them self harder to get in haven. No answer was given. So I toldem if I am you I would actually convincing him to quit so you have more chances.

Ok where I was going with this, all millenials will become deplorables in a few short years, it’s just mater of time before they realize, competition is how long is far away.

https://imgur.com/a/Sr019iA

#101 NoName on 11.09.19 at 2:14 pm

Should read

before they realize, competition is good how long is far away.

#102 Linda on 11.09.19 at 2:19 pm

#95 ‘Don’ – Brilliant! Thanks for putting a smile on my face today:) Now off to enjoy more of that peace, prosperity & longevity while it lasts……

#103 tccontrarian on 11.09.19 at 2:31 pm

#25 Xpat on 11.08.19 at 6:19 pm

Always do the opposite of TCC. Kind of like Mark.
————–

haha
But…when you do the opposite of what a ‘contrarian’ does, well then you’re doing the same as the majority. Good luck to you – you will need it!

tcc

#104 NoName on 11.09.19 at 3:17 pm

@MF

Maybe your definition of welfaire. Funny thing it started in ontario way back in 18th century, but expanded ever since.

If anything we shou thank boomers for helping wretched people. I am thankful every time short bus come to my house to pick my son and take him to school.

https://www.thecanadianencyclopedia.ca/en/article/welfare-state

#105 Shawn Allen on 11.09.19 at 6:07 pm

Corporate Taxes get passed on to consumers?

Whenever there is talk of corporate tax INCREASES most voices seem to argue it is a waste of time as it will only be passed onto customers.

But when Trump lowered corporate taxes from 35% to 21% the investment community said it would fall to the bottom line. There was no talk of it getting passed on. And it has not been to any material extent. At least not for the S&P 500 companies where bottom line profits indeed did soar.

Conclusion: The S&P 500 companies face very little competition on price.

Another example of failed trickle down?