Dr Garth

“Unsure of whether an MSU is appropriate or patronizing, so I’ll just state I’ve been an avid reader and occasional commenter for 12 years, and your advice has saved this Alberta cowboy from himself many a time,” says Thomas, guaranteeing my attention. “I’ve never sent in an email, but puzzling through this one and thought if it was lucky enough to make the blog I’d get some free advice”

Shoot, cowboy. And don’t worry about Wexit, some lameass Alberta Pension Plan or the Barbarian premier. It shall all pass. Now tell us about you.

“I’m in my late 30s, make $200k taxable including bonus and vehicle in the private sector, and for the first time in my 20 year career with the company I’m very concerned about job security. I have P&L responsibility for a large O&G multinational that is struggling to make ends meet in Alberta, and I look every month at the numbers and wonder how much longer they’re going to be willing to bleed before it’s time to try a different strategy. I have a flexible skillset, but if it comes to a pink slip chances our my next gig will halve my income or worse, at least temporarily. I also wouldn’t mind a year or two out of the rat race and high pressure to decide what I should really do now that I’ve grown up.

“Question is this: I have about $60k of RRSP contribution room and $50k in my TFSA. Given my years ahead may not be quite as high earning as I am today, I’d like to max out my RRSP contribution this year while my marginal rate is still around that 42% mark, and use it as a safety net in the case that I find myself unemployed. Do I a) borrow to invest, using the refund to pay down part of the loan or b) take the safe route and cash out my TFSA and dump in in my RRSP, then use the refund to build my TFSA back up? Leaning toward option ‘b’ given the lower debt/risk factor, but curious to know if I’ll be granted the full $50k TFSA contribution room back, since only about $35k was contributions, the rest is gains.  Hope all is well with you and your family. Merry Christmas to Dorothy, Bandit, and yourself my friend.”

Sorry to hear about the job insecurity, Tom. It’s a confusing world at the moment. The feds are anti-carbon. Our pipeline failure has Canadian crude prices in the dumpster. The EV push is upon us. The US is a net energy exporter now for the first time in 70 years. Not good for AB. And the Wexit thing will just make it worse – advocating for a tiny, landlocked country of four million people divorced from the very structures and stability that attract investment capital. What a deceitful fiction.

Regardless, yeah, it’s option B. Cash the TFSA and put the fifty grand in the RRSP. That will give you a refund of twenty to use for the tax-free account, with no debt. The rules allow you to maintain $50,000 in contribution room for the TFSA, plus add another six thousand for 2020. That money can be deposited on the first business day of the new year. Do what you can while the job is still there to rein in spending, sock away more and top up that vehicle. By the way, the more Jason Kenney plays footsie with the separatists, the greater the jeopardy your employment’s in. You might wish to tell him: [email protected]

And now to Ontario, where all the money flows downhill to.

“My husband and I are 56 and 58 years old and have 2 adult children living at home,” says Janice. “They are planning on moving out in the next couple of years (if not sooner).  Our combined income is approx. $110K and we plan on working for at least the next 5 years.”

“We own a modest sized home and still have a substantial mortgage.  Our home value is approximately $1 million and our debts, including mortgage, are $380k.  We have RRSP’s/LIRA valued at approx. $260K in total.  We don’t have any TFSA’s.  My husband does not have a pension plan.  My pension will be small as I have only been at my current job for 6 years.

“We have toyed with the idea of selling our house while house prices are still high and renting something smaller so we can invest our money. We would need to remain in our area as my husband works near the airport. So rent would be approx. $2500. Any advice is appreciated.”

What a common tale these days. Yearning for retirement, net worth mostly in a house, moocher children, no corporate pension and seriously inadequate savings. It’s a recipe for decades of unhappiness. After all, $260,000 in registered savings will deliver a grand or less in disposable income monthly. Add in CPP and eventually OAS, then subtract debt servicing costs, and it’s thin. If the kids don’t launch, Janice, even worse.

Sounds like you have seven hundred thousand in home equity, however. Liberating that and adding it to your existing savings would change everything. If you grew it in a balanced portfolio for the next five years, liquid assets could hit $1.5 million. That would throw off $90,000 a year, or about $7,500 a month, and do it more tax efficiently than your current employment income. Lots of money to pay the rent and enjoy retirement. Just lease a place without multiple bedrooms. You know why.

“I love your blog, and I read it daily,” says David in Toronto. “Keep up the great work, and don’t let the small fraction of people who comment get ya down. :)”

Easy to say, D. Hard to do. Whazzup?

“I have a question I’m hoping you can give some insight on. Lately, a lot of the economic news seems to indicate Canada would be close to a recession (or in one) if it were not for the housing market. As a long time renter, I’ve begun to wonder whether the government is TOO reliant on maintaining the status quo, that should the housing market drift south, they would be forced to step in and prop it up. How likely is it that the government would offer a “bail out” so-to-speak for the housing market in the event of a major downturn? I’d personally be pretty upset if the people that got the market to the insane heights it’s at now were doubly rewarded with a bailout, simply because we’ve been unable to stimulate the economic growth we need to balance things out. What do you think is the likelihood of a scenario along those lines?”

Zero, David.

Already the feds are planning on a massive $28 billion deficit in 2020, and the economy is doing just fine. In a recession costs go up and revenues go down, making national finances even worse. Bailing out underwater homeowners would be massively expensive, patently unfair and – based on US experience – a failure. Rent, wait and watch.

Finally, here’s Curtis. Suck-up, then query: “I’ve read the blog daily for years and you’ve shaped the way I think about personal finances immensely. Can’t thank you enough!”

“I’m wondering: how do spousal loans work in practise? My wife and I deposit all of our income into a shared chequing account. All of our living expenses and monthly deposits to investment accounts stem from there, regardless of whose name is on the investment account. With all of our income mixed in together, what does one of us loaning money to the other for the purpose of investing practically look like? What does the 2% interest look like? I’m really curious about this one. Any insight you can provide is much appreciated!”

Spousal loans are great for income-splitting and tax reduction in a household where you and your mate earn widely differing amounts. By making the less-taxed person the investor, more of the gains can be kept, so loaning that partner money makes sense. The loan rate has to be at least 2% (the current CRA level) with interest paid annually, added to the taxable income of the lending spouse. The costs are deductible, however, in the hands of the borrower. There will be no attribution of investment gains back to the lender – which is the whole point of this exercise.

So if there’s an income disparity in your house, Curtis, you should stop co-mingling your net incomes, pay all of the household expenses yourself then loan her a pile of cash for a non-reg account. And, of course,  be a model husband. That may involve flowers and manners. Be prepared.

 

112 comments ↓

#1 Paul on 12.01.19 at 3:12 pm

“We own a modest sized home and still have a substantial mortgage. Our home value is approximately $1 million
————————————————————————————————–
Modest size home $1,000,000.00? millennial’s so screwed. The Boomers need to pass their shacks to the kids.

#2 Flop... on 12.01.19 at 3:14 pm

Was thinking last night how to improve the frosty relations between B.C and Alberta.

After looking at the Granville Street bridge chandelier debacle, I came up with this.

The city gives me 4.8 million, and I hang a giant set of Truck Nutz under the Cambie Street bridge to welcome all the migrating Albertans…

M45BC

#3 crowdedelevatorfartz on 12.01.19 at 3:20 pm

@#68 Donny G
“I was visiting mid Island this summer. Most of the cars I saw didn’t look worth $900.00…”
+++++

bwahahahaha
Good one.

#4 Interstellar Old Yeller on 12.01.19 at 3:28 pm

Thomas, Garth said it (more or less) and I’ll say it, too. At $200k p.a. (even if this is your first year making anywhere near that much), you have a lot of potential to save if you cut expenses. Do it while you can and you’ll feel a lot less pain if you take a 50% pay cut because you’ll be used to living on less and have a bigger cushion for a rainy day.

Happy December, Garth. I like how the IG photos shown on the sidebar are 80% Bandit. Hope you’re all doing well.

#5 Ace on 12.01.19 at 3:48 pm

Funny how so many of the boomers who purchased their homes in the 80s still owe as much as they paid on the stupid things. If they couldn’t even handle paying of $250,000 how do the people now expect to pay off their $800,000 mortgages?!

#6 Ustabe on 12.01.19 at 4:03 pm

#3 crowdedelevatorfartz on 12.01.19 at 3:20 pm

@#68 Donny G
“I was visiting mid Island this summer. Most of the cars I saw didn’t look worth $900.00…”
+++++

bwahahahaha
Good one.

Outlandish statement and response. I live in a working class part of town and am surrounded by Golf Alltrack wagons, Nissan Maxima’s, Ford 1/2 tons, Buick Enclaves, etc. All new or at least current models.

Up the road a bit we have a classic Bronco with a very tasteful restoration on it, across the street is a first year Blazer that looks and runs as new and my vehicle is fast becoming a classic. The re-sale on it seems to go up (a bit)every year, despite it getting older.

And that isn’t even touching on the areas of town where the people chose to display their wealth in the driveway.

I’m thinking Donny didn’t know what he was looking at.

#7 Nita Graves on 12.01.19 at 4:10 pm

Love your column Garth, but as an old-maid school teacher I must protest your forever advising your readers on “loaning” money to their squeezes when indeed it is “lending” at issue. (rejected)
No, not so, although I have never had the audacity to point out your issues with “lend” and “loan).

#8 InOz on 12.01.19 at 4:14 pm

People are going nuts. This is in the Financial Post. A couple in their 70’s, with over $2M in liquid assets, wants to buy $1.4M property.

https://business.financialpost.com/personal-finance/family-finance/in-retrospect-selling-the-house-to-fund-a-50000-travel-habit-may-not-have-been-couples-best-move

Definitely worth reading. The psychology of how people deal with their finances is astounding (and troubling).

#9 crowdedelevatorfartz on 12.01.19 at 4:17 pm

@#6 Ustabe
‘And that isn’t even touching on the areas of town where the people chose to display their wealth in the driveway.”
+++++

Bwahahaha.
Touched a nerve did we?

Do the upside down cars on the front acreage count in that “display of wealth”?

#10 crowdedelevatorfartz on 12.01.19 at 4:19 pm

@#1 Paul
“The Boomers need to pass their shacks to the kids….”
+++++

I thought thats what they were doing by letting the kiddies live there until 40………

#11 Slim on 12.01.19 at 4:26 pm

If by some miracle Alberta manages to separate, you’ll see many Albertans heading for the exits. At least the moving companies will be busy. Kenny needs to take this whole Wexit idea out behind the barn and shoot it.

#12 Sold Out on 12.01.19 at 4:48 pm

What’s with the car shaming? Flashy new cars should be equated with having a coke habit; Dog’s way of telling you that you have too much money (or that you think you have too much money, even though you really don’t). Driving a mechanically sound beater is one of the smartest things you can do for your finances. Riding a bike is even smarter.

#13 Alan Lawrence on 12.01.19 at 4:57 pm

#11 Slim on 12.01.19 at 4:26 pm
If by some miracle Alberta manages to separate, you’ll see many Albertans heading for the exits.
—————————————————————-
I on the other hand as an ex-pat Albertan of 30 years would immediately move back.
The only ones leaving will be overpaid federal bureaucrats who will not get a career in the new Alberta.

#14 Ottawan on 12.01.19 at 5:06 pm

Who says Curtis makes more than his squeeze? The women gross more in our fam & all my sibs too,,

#15 Sail Away on 12.01.19 at 5:31 pm

#9 crowdedelevatorfartz on 12.01.19 at 4:17 pm
@#6 Ustabe
‘And that isn’t even touching on the areas of town where the people chose to display their wealth in the driveway.”
+++++

Bwahahaha.
Touched a nerve did we?

Do the upside down cars on the front acreage count in that “display of wealth”?

—————————–

Of course. And the ones on concrete blocks. Money in the bank, baby!

#16 BlogDog123 on 12.01.19 at 5:39 pm

What if my spouse and I have incomes closer together, say 30%, 20% or 10% apart…

What is the effect of co-mingling our incoming chequing account and each pulling the money out to our individual accounts?

I understand the case where one spouse stays at home while the other earns all the income, where the lower-taxed spouse makes the investment contributions.

I just don’t understand how the CRA cares if the incomes are XX % close together. Would they bother counting the dollars of who has what attributed to who?

#17 Jager on 12.01.19 at 5:43 pm

Canada can kiss it’s 5 Eyes inclusion (and much more) goodbye.

The Threat of 5G
https://youtu.be/AGkU7HmAAAc

Trudeau quietly welcomes Chinas (read CCP) Huawei to handle Canadian telecoms grid
https://youtu.be/Wf61Hse8X_k

Approving Huawei for 5G in Canada risks economic relationship with U.S. and China
https://youtu.be/JVJQMKZCx_E

#18 WEXIT! on 12.01.19 at 5:56 pm

Wexit will produce all the good-paying jobs Albertans need.

Self-sufficiency is just one vote away.

#19 Gravy Train on 12.01.19 at 6:18 pm

#7 Nita Graves on 12.01.19 at 4:10 pm
“Love your column Garth, but as an old-maid school teacher I must protest your forever advising your readers on ‘loaning’ money to their squeezes when indeed it is ‘lending’ at issue. (rejected) No, not so, although I have never had the audacity to point out your issues with ‘lend’ and ‘loan’).” Sorry, Nita, but ‘lending’ and ‘loaning’ are synonyms. :)
https://www.merriam-webster.com/thesaurus/loan

#20 Andrewski on 12.01.19 at 6:21 pm

Re #7 Nita Graves. Check your grammar teacher, “ I must protest your forever advising your reader”. Pretty sure it should be “…you’re (contraction of you are) forever advising”…

#21 Yukon Elvis on 12.01.19 at 6:22 pm

#17 Jager on 12.01.19 at 5:43 pm
Canada can kiss it’s 5 Eyes inclusion (and much more) goodbye.

The Threat of 5G
https://youtu.be/AGkU7HmAAAc

Trudeau quietly welcomes Chinas (read CCP) Huawei to handle Canadian telecoms grid
https://youtu.be/Wf61Hse8X_k

Approving Huawei for 5G in Canada risks economic relationship with U.S. and China
https://youtu.be/JVJQMKZCx_E
………………………

Manchurian Candidate. Pollyanna brain. Doing his best to destroy Canada. The list is long.

#22 MF on 12.01.19 at 6:29 pm

#13 Alan Lawrence on 12.01.19 at 4:57 pm

Actually, we can look at what happened to Quebec during the referendums to get a fairly accurate description of what would happen:

1) A lot of businesses would flee. Because of the uncertainty of the whole thing (new trade negotiations, currency issues, security issues, etc.). Whether they agree or not with separation is a moot point.

2) The separatist movement said it would swallow federal employees who resided in Quebec. This scared provincial employees who also didn’t want the uncertainty, and who then voted no. In the case of AB separation, federal employees who want to leave will just get up and go. They don’t care about whether you call them overpaid or not. Someone will have to be responsible for federal policies in the new Albertan government though, and they will want to be paid a salary too.

3) There will be an exodus of regular people who are either loyal to Canada, or also don’t want to deal with the uncertainty of it all either. During the last referendum, some parts of Quebec were heavy yes and other parts were heavy no. We can all assume the same will occur in Alberta.

Basically there will be a much bigger exodus of people leaving, then people coming.

The frustration of Albertans toward the current Liberal government is definitely something that needs to be addressed. I think all of Canada agrees on that. But, underneith it all, I think the whole separation threat is a desperate plea for help more than anything. A powerful political tool.

MF

#23 OK, Doomer on 12.01.19 at 6:31 pm

And here is what T2 and the Greens have in mind for your future.

Green Energy Catastrophe: Zimbabwe ‘Turning Into A Desert’ As Poor Cut Down Forests For Fuel
Date: 30/11/19The Times
For many struggling families, firewood and charcoal have become the only source of energy
For many struggling families, firewood and charcoal have become the only source of energy.

An estimated 815,000 acres of forest are being chopped down each year in Zimbabwe as its desperate people resort to firewood to cope with poverty, blackouts and a scarcity of fuel.

Conservationists warn that Zimbabwe could be reduced to a desert in a generation if the rate of deforestation goes unchecked. The country has been in the grip of power cuts, which sometimes last 19 hours, for six months.

The price of cooking gas has increased by 600 per cent. For many struggling families, firewood and charcoal have become the only source of energy — and selling it their only means to survive with unemployment at 90 per cent.

“People need to feed themselves and heat their homes,” Abednigo Marufu of the Zimbabwe Forestry Commission said. He said that much of the estimated 815,000 acres being lost comprised slow-growing native species.

Looks like New Green Hell to me.

#24 JSS on 12.01.19 at 6:33 pm

All this wexit nonsense is costing Alberta in investment.
Some media tech company was looking at locating its head office, and was considering Calgary. Well no more because of this whole wexit BS. Reminds some of Quebec in the mid 1970s when separatism scared many head offices from Montreal to Toronto.

https://www.google.ca/amp/s/www.cbc.ca/amp/1.5379203

Maybe Kenny should quit fanning the flames for wexit.
Else he will be gone too in the next provincial election.

#25 Al on 12.01.19 at 6:37 pm

How did Ontario end up with a college dropout as Premier of the Province?

#26 Ok, Doomer on 12.01.19 at 6:55 pm

I think the deficits are now structural and destined to continue to grow in size as has happened in the US. The main problem in Canada right now is demographics. Ontario and Quebec are very old, globally speaking, and as their aging workforce retires not only will they pay less tax but they will increasingly be drawing CPP and OAS. It’s a slow motion train wreck and the cars are already piling up on the side of the tracks.

There is no way to fix this using tax increases as the very people you’d have to tax are the ones retiring. Immigration won’t fix it either.

Politicians like to talk about diversification and growth but those things aren’t going to happen. Capital knows no borders and it goes where it’s treated best, and that ain’t Canada. So if you were going to say build an electric car manufacturing plant, would you put it in high tax high cost Ontario or in China as Elon Musk did? The only reason so many cars get built in Ontario is because of the now defunct auto-pact. And all we have to do is look at what happened to RIM (Blackberry) or the Avro Arrow to see what happens when we do invent something that catches the eye of our US neighbors. They would rather build it themselves and hire our engineers to do it if they can.

Poor Alberta is dying on the vine so they can’t be expected to fund the shortfall any longer. There really doesn’t seem to be any short term solution for this as Alberta needs either more market access or higher oil and gas prices, neither of which seems likely in the near term. Keystone XL will be the first one built but that could be 10 years away. The US doesn’t need the oil right now. Trans-mountain may eventually get built but not until the dimwits in Victoria wrap their heads around how dependent they are on one single 60 year old pipeline.

Canada isn’t really a country. It resembles more a confederation of distinctly different regions, with different interests, economies, and indeed a language in one case. Just look at the most recent electoral map.

All one has to do is look at a rail or pipeline map to realize that most of our trade is with the US, not with each other. That is true for practically every province. Sure, there are 2 major east-west train tracks running through the country which originally held it together, but they are both mostly within a hundred miles of the US border. CN might be further north for much of its run but once it gets to Ontario it heads south. More train cars go north-south than make it from one side of the country to the other. The US colonization of the Canadian territories is complete. Except perhaps the far north. But nobody lives up there anyway. And for good reason.

Garth can mock Wexit all he likes, but the fact is that other than the transfer payment scheme, which is hemorrhaging badly, confederation is already dead. The federal government cannot even approve a needed pipeline expansion in an existing pipeline route because BC has usurped federal jurisdiction, even after the most exhaustive review process probably in history for any pipeline anywhere in the world. To say there is enmity between Victoria and Edmonton hardly describes it. Quebec has been acting like a trophy wife for years but now that she’s getting old Alberta doesn’t want to fund her shopping sprees anymore (and can’t). Divorce is inevitable. It is a dead marriage.

Even the Canadian boarder for the most part is just a line on a map. Along the great lakes it makes sense, because the British could defend it using the lakes, but heading west from there it is just a line on a map. A line that commercial interests do not respect. It is a border without meaning. If it weren’t for drugs and taxes, there probably wouldn’t be border control.

“And the Wexit thing will just make it worse – advocating for a tiny, landlocked country of four million people divorced from the very structures and stability that attract investment capital. What a deceitful fiction.” Unfortunately Canada as a whole no longer has the structures and stability that attract investment capital, and that is true in Ontario as much as Alberta. Canada, as a long term project, is finished. It’s just a matter of what will set off the collapse, and how long it will take.

#27 crowdedelevatorfartz on 12.01.19 at 7:04 pm

@#25 Al
“How did Ontario end up with a college dropout as Premier of the Province?”
+++++

Only the PMO’s “kingmaker” Gerald Butts knows the answer……

#28 ImGonnaBeSick on 12.01.19 at 7:14 pm

#14 Ottawan on 12.01.19 at 5:06 pm

Who says Curtis makes more than his squeeze? The women gross more in our fam & all my sibs too,,

——————-

Good Lord.. give it a rest. We get it.

#29 Unemployed Oil Engineer on 12.01.19 at 7:17 pm

For the record folks, especially those in hysterics about the proposed Trans-Mountain expansion:

Bitumen cannot be shipped by pipeline. It’s too thick to pump. It can be shipped by rail but only in heated cars.

The products made from bitumen that can be shipped by pipe are two: Dilbit and Syncrude. Dilbit (diluted bitumen) is a mixture of bitumen and a diluent, mostly pentane (otherwise know as natural gasoline), whereas syncrude (synthetic crude) is a cracked product made from bitumen that is now a very light low sulfur oil as a result of that conversion.

Raw bitumen cannot be shipped via a pipeline and every time you hear someone from the green party or some “woke” kid complaining about it realize they know not of what they speak. It is good for making roads though. It’s basically natural asphalt. It can’t be shipped by pipeline. There would never be any bitumen in the pipeline. Every time you hear some environmentalist go on about the dangers of bitumen in the water realize it can’t happen and he is relying on both his own and your own lack of education about such things.

#30 Flop... on 12.01.19 at 7:24 pm

91 hours a week in Hawaii to live a comfortable life.

Say what?

Sounds like an uncomfortable life to me.

If I worked at a Lazy Boy showroom with big fans, I could probably make it work…

M45BC

This is How Long You Need to Work to Live Comfortably in Every State.

Do you make enough money to enjoy a comfortable life? Or are you just scraping by? If it feels like you can’t ever truly get ahead, then you aren’t alone according to our latest map on the cost of living across the U.S.

Hawaii is the single most difficult state for workers to get ahead, requiging $96.1K to enjoy a comfortable life and 91-hour workweeks to get there.

The states where a comfortable life is within reach stretch across the South. Mississippi is the most affordable at $40.4K. Making that much money would require average workers to clock 53 hours.

Kansas stands out as a reasonably affordable place to enjoy the good life ($41.7K) without spending too much time on the job (46 hours).

There isn’t a single state in the country where an average worker can enjoy a comfortable living on 40 hours or less of work per week. North Dakota has the shortest required minimum hours at 45.

Top 10 States Where it is Cheapest to Enjoy a Comfortable Living

1. Mississippi: $40,349 (53 hours)
2. Oklahoma: $41,113 (48 hours)
3. Arkansas: $41,495 (52 hours)
4. Kansas: $41,733 (46 hours)
5. Tennessee: $41,877 (48 hours)
6. New Mexico: $42,354 (50 hours)
7. Alabama: $42,497 (50 hours)
8. Missouri: $42,545 (47 hours)
9. Michigan: $42,832 (46 hours)
10. Georgia: $43,023 (48 hours)

Top 10 States Where it Costs the Most to Enjoy a Comfortable Living

1. Hawaii: $96,120 (91 hours)
2. Washington, D.C.: $78,310 (44 hours)
3. California: $66,754 (63 hours)
4. Oregon: $65,417 (66 hours)
5. New York: $64,462 (57 hours)
6. Massachusetts: $62,218 (51 hours)
7. Maryland: $61,836 (55 hours)
8. Alaska: $60,881 (51 hours)
9. Connecticut: $59,783 (51 hours)
10. New Jersey: $59,401 (54 hours)

#31 Dr V on 12.01.19 at 7:29 pm

22 MF – maybe if we recognized AB as a”distinct society” it would help.

#32 SimplyPut7 on 12.01.19 at 7:30 pm

The Ontario example is very common in the province, the only thing missing is the investment condo(s) being built with no thought on how they are going to close on the unit(s) or pay the monthly expenses that their tenant’s rent does not cover.

#33 Gravy Train on 12.01.19 at 7:53 pm

#20 Andrewski on 12.01.19 at 6:21 pm
“Re #7 Nita Graves. Check your grammar teacher, ‘I must protest your forever advising your reader.’ Pretty sure it should be ‘…you’re (contraction of you are) forever advising’…” In all fairness to Nita, I believe she’s using the word advising not as a present participle but as a gerund, so her spelling of the word your is correct. :)

#34 leebow on 12.01.19 at 7:54 pm

Our future
https://www.youtube.com/watch?v=JHDkALRz5Rk

#35 joblo on 12.01.19 at 8:14 pm

Calgary lost out on a 1000 person (phantom?) company because of weakexit, but the owelimpics were an great idea?

Really?

#36 AB Boxster on 12.01.19 at 8:17 pm


And the Wexit thing will just make it worse – advocating for a tiny, landlocked country of four million people divorced from the very structures and stability that attract investment capital. What a deceitful fiction.

—————————
So how’s that capital investment been doing for the past 5 years Garth. I mean being a part of a pathetic country like Canada where there is no free trade between provinces, where provinces that take risks and initiative are forced to pay for the other pathetic regions that choose to suck off the test of government largess. And where the whole country his forced to buy crap from Ontario and Quebec to keep their dairy individually.

Alberta cannot get it’s product to market despite having every constitutional right to do so.

And the feds now pass laws, specifically aimed at killing the industry in provinces that produce the energy that the rest of hypocritical Canada uses every day.

Broken families, bankruptcy, business failure, massive personal debt, suicide. Thanks for that Trudeau. Thanks for that Canada.

Albertans have had enough of Canada’s BS.
Canada is a joke of a country.

Wexit or something else.
Albertans really don’t care anymore.
How much more BS is this province expected to take?

Sorry but it is different this time.

#37 Flop... on 12.01.19 at 8:24 pm

This is a bold statement…

M45BC

“There isn’t a single state in the country where an average worker can enjoy a comfortable living on 40 hours or less of work per week. North Dakota has the shortest required minimum hours at 45.”

https://howmuch.net/articles/cost-comfortable-living-america

#38 Sail Away on 12.01.19 at 8:27 pm

#20 Andrewski on 12.01.19 at 6:21 pm

Re #7 Nita Graves. Check your grammar teacher, “ I must protest your forever advising your reader”. Pretty sure it should be “…you’re (contraction of you are) forever advising”…

——————————-

You are wrong, Andrewski. Be very careful when calling someone out.

#39 Freddy Finance on 12.01.19 at 8:31 pm

22 MF – maybe if we recognized AB as a”distinct society” it would help.

Maybe if every Albertan were to learn to speak French they would win the Trudeau lottery.

#40 OK, Doomer on 12.01.19 at 8:33 pm

#31 Dr V on 12.01.19 at 7:29 pm
22 MF – maybe if we recognized AB as a”distinct society” it would help.

********

Works for me. My family goes back 5 generations of wresting fire from the ground in Alberta. Further back than that in the old country. Federal policies are destroying my ancestral way of life.

#41 Re-Cowtown on 12.01.19 at 8:37 pm

DELETED

#42 Sail Away on 12.01.19 at 8:48 pm

#25 Al on 12.01.19 at 6:37 pm

How did Ontario end up with a college dropout as Premier of the Province?

——————————–

Maybe Ontario just got lucky. Here are a few other college dropouts:

Bill Gates
Steve Jobs
Mark Zuckerberg
James Cameron
Oprah Winfrey

#43 Sunny Ways Graveyard on 12.01.19 at 9:00 pm

DELETED

#44 Treasure Island CEO - 28,008,132.45 Offshore on 12.01.19 at 9:36 pm

Einstein Exchange in Vancouver Shuts Down – $16 Million owing to customers ($11 million in cryptocurrencies and about $5 million in cash).

British Columbia Securities Commission (BCSC) had received “numerous complaints” about the exchange’s customers being unable to access their assets on the platform.

Not able to reach the exchange’s founder Michael Ongun Gokturk.

BCSC has also informed the RCMP of potential money laundering concerns that were brought to the commission by a former Einstein Exchange employee.

Here is the ironic twist aniti-money laundering, Lawyer in financial regulation, asset recovery, combatting financial crime, fin tech guru… blah, blah, blah C.Duhaime was involved with this company promoting how they do things right.

So, where is Duhaime? Well her twitter account is currently protected after being public and seems pretty tight lipped. So, who tf knows. Meanwhile. Still pumping the bitcoin blogging about the problems “elsewhere.”

Accounting firm Grant Thornton was subsequently appointed to take control of Einstein Exchange’s assets. When an investigator visited the exchange’s Vancouver office, he found the offices were locked, and none of the exchange’s phone numbers were working.

#45 akashic record on 12.01.19 at 10:09 pm

#21 Yukon Elvis on 12.01.19 at 6:22 pm

#17 Jager on 12.01.19 at 5:43 pm
Canada can kiss it’s 5 Eyes inclusion (and much more) goodbye.

The Threat of 5G
https://youtu.be/AGkU7HmAAAc

Trudeau quietly welcomes Chinas (read CCP) Huawei to handle Canadian telecoms grid
https://youtu.be/Wf61Hse8X_k

Approving Huawei for 5G in Canada risks economic relationship with U.S. and China
https://youtu.be/JVJQMKZCx_E
………………………

Manchurian Candidate. Pollyanna brain. Doing his best to destroy Canada. The list is long.

——————————————-

“Good Plutocrats included the likes of George Soros, Warren Buffet, Bill Gates and Jeff Bezos who made their billions under the free-for-all epoch of globalization, but who were willing to adapt to the new rules of the post-globalization game. This was a game which she defined in an absurd 2013 TED Talk as a “green New Deal” of global regulation under a de-carbonized (and depopulated) green economy.

For those “bad plutocrats” unwilling to play by the new rules (ie: the Trumps, Putins or any industrialist who refused to commit seppuku on the altar of Gaia), they would simply go extinct. This threat was re-packaged by Canada’s “other” globalist puppet Mark Carney, who recently said “If some companies and industries fail to adjust to this new world, they will fail to exist.”

https://www.zerohedge.com/political/sea-change-canada-foreign-policy-freeland-replaced-pro-chinese-politico

#46 TurnerNation on 12.01.19 at 10:19 pm

#17 Jager wow it’s almost like all of this is planned in advance. I mean I don’t leave my breakfast to chance tomorrow let alone billions of dollars and people.
Keep your eye on the player of this game. Democracy…is a nice distraction. And the trains will run on time.

Can’t vouch for this site…probably a yucky think tank but its presentation is interesting. And Blog Dog Carney.
All the Queen’s horses and all the Queen’s men…can’t put Kanada back together again.

https://www.strategic-culture.org/news/2019/11/30/sea-change-canada-foreign-policy-as-freeland-is-replaced-by-pro-chinese-politico/

“In Chrystia Freeland’s 2012 book Plutocrats, Canada’s leading Rhodes Scholar laid out a surprisingly clear analysis of the two camps of elites who she explained would, by their very nature, battle for control of the newly emerging system as the old paradigm collapse”

“This was a game which she defined in an absurd 2013 TED Talk as a “green New Deal” of global regulation under a de-carbonized (and depopulated) green economy. For those “bad plutocrats” unwilling to play by the new rules (ie: the Trumps, Putins or any industrialist who refused to commit seppuku on the altar of Gaia), they would simply go extinct. This threat was re-packaged by Canada’s “other” globalist puppet Mark Carney, who recently said “If some companies and industries fail to adjust to this new world, they will fail to exist.””

#47 yvr_lurker on 12.01.19 at 10:20 pm

#44Accounting firm Grant Thornton was subsequently appointed to take control of Einstein Exchange’s assets. When an investigator visited the exchange’s Vancouver office, he found the offices were locked, and none of the exchange’s phone numbers were working.

——————————

This does not surprise me one bit. Gokturk is probably somewhere in the Maldives with his stolen $$$ watching the unfolding scene from afar. Has probably spent months pre-planning where to scatter the assets so that the forensic auditors will only ever recover a fraction of it, if that.

What does surprise me is what motivates normally intelligent people to “invest” their $$$ in schemes like this where there is just a few (Goturk and Duhaime) point people who control the whole show, and who can easily pull down the curtains suddenly with no checks and balances or oversight. One day the $$ is there, the next day Poof it is gone along with the two maestros calling the shots. The same people who invest in this will decry the evil and corruption and greed of the banks etc….

Sorry, I don’t get it. I would have never trusted these dudes (even after their polished bullshit videos and talk shows they were on) to throw in even a hundred bucks into their “company”.

#48 Ponzius Pilatus on 12.01.19 at 10:34 pm

#31 Dr V on 12.01.19 at 7:29 pm
22 MF – maybe if we recognized AB as a”distinct society” it would help.
————-
I’d vote for that.
The hillbillies, rednecks, F-150 afficiados should be protected as an endangered species.

#49 meslippery on 12.01.19 at 10:35 pm

#5 Ace on 12.01.19 at 3:48 pm

Funny how so many of the boomers who purchased their homes in the 80s still owe as much as they paid on the stupid things. If they couldn’t even handle paying of $250,000 how do the people now expect to pay off their $800,000 mortgages?!
———–
Yeah seen it 80s till 2019 live like rock stars using house as ATM now reverse mortgage till dead.
Nobody told me dammit.

#50 Gravy Train on 12.01.19 at 10:40 pm

#36 AB Boxster on 12.01.19 at 8:17 pm
“[…] I mean being a part of a […] country like Canada where there is no free trade between provinces, […]” Wait a minute! Are you now a free trader? But aren’t you also a Trump supporter? Trump’s not a free trader; he’s a nativist and a protectionist! You can’t have it both ways, bub! :)

#51 Where is the money? on 12.01.19 at 10:45 pm

My name is Dom and I live in Vancouver and physically went into Einstein Exchange. To fund your wallet a “Bank Draft” was required, not a personal cheque. You also needed ID and documents showing current living address. I had $140k in FIAT in my wallet waiting for an entry into the crypto space.

Grant thornton said all monies are gone. They spent it all on business expenses and fraud.

The company had about 200,000 clients around the world.

#52 NoName on 12.01.19 at 10:47 pm

#36 AB Boxster on 12.01.19 at 8:17 pm

Problem is much bigger than product to market, atbthis point.

Interonal law about sulfur content in fuel transported is kicking in next year. Anything other light syncrude is bound to stay in Alberta, regardless of pipeline at this point.

Rafineries down south are switching to process that deals only with shale light sweet stuff only. All this time they were using our stuff to blend with fracking oil and delay “retooling”.

#53 fishman on 12.01.19 at 11:47 pm

Just finished driving the kid,dropping him off at the docks in Steveston. We got to talking about the buy last week. Somebody bought 5000 100 oz.gold contracts at $4000 on/by June 2021. 1.75 million bet. I says, you must have read that off Mish’s blog. Yeah, I like him,I read him all the time. One guy I don’t like anymore is Garth Turner. Real Estate’s going down,same old thing, he’s a grumpy old man.
Oh I see, I says. You seem to be happy with your portfolio up 12% this year & your TFSA plugged with those millennial stocks & RRSP full up & safe. Those ETF’s & weightings & twice a year rebalancing comes directly from Mr. Grumpy’s playbook. Well , he sorta admits, we did set up his portfolio along those lines.
Us old guys just can’t get no respect. All we’re left with is getting the last chuckle. That & no more taking the first wheel watch down the mighty Fraser & into the traffic lanes on a cold rainy black cruel December night .

#54 meslippery on 12.02.19 at 12:04 am

Just thinking out loud.
So the Sun been burning a while now, should some of if not be gone and its burning less hot now??
Think camp fire. Not really much we can do
to add wood..

#55 Ok, Doomer on 12.02.19 at 12:16 am

Whoops, looks like there are 2 of us using this handle, but #23 used it first so I will desist.

#56 Scott on 12.02.19 at 12:24 am

@36
It works both ways my friend. As someone who does not have a dog in the fight I thought it was wrong how Harper gave preferential treatment to Alberta and wrong how the libs do the same for their voting base. It’s wrong how Kenney guts students because they don’t vote for him. There were 3 or 4 things that I was super excited about when Trudeau ran the first time (not quite enough to vote for him but some potential positives at least). The biggest one was electoral reform. I think there are multiple better options out there that we could go to.
Unfortunately that kind of proportional representation would not favour the oil sands and thE numbers of people who choose to put climate over economy gain more voters every year. The greens took 6.5% of votes but got less than 1% of seats. Surely you will clam the PCs got hosed as they won the popular vote. Right you are! Let’s say just for fun that mad Max rejoins the PCs to form the largest party in Canada they would hold 36%. Let’s add on the Bloc just for fun and that gets you to 44% with generous rounding. The rest of the parties are either committed to doing better environmentally or at least Pretending to do so.
For that reason maybe you’re right that Alberta will choose to “Wexit or something else”. Can’t imagine you getting what you want democratically in 2019 or beyond.

I think Garth has correctly laid out why that would not go well but hey that hasn’t stopped the UK. Just saw Sweden pull out investments from oil sands companies because they do not meet Paris climate agreement targets. Can’t imagine they’ll be the last.

We shall see in the future and speculate daily on this blog in the mean time lol..

#57 Jenny Wang on 12.02.19 at 1:24 am

Trudeau screws Canada forever. Russia, Europe and China are crisscrossing the continent with oil and gas pipelines. Canada had it all, but Trudeau screwed the pooch and forced EU and China to rethink supply. Trudeau can’t fix this, those markets are gone. Any LNG ports in Canada are just political dinosaurs , there’s no market for the product any more. Who’s the big winner? Russia.

Nice going Trudeau, Canada will suffer forever no matter who defeats the Liberals in any coming election. Foreign investment will never return. Infrastructure will never be funded by energy, mining or agriculture. Who’s going to pay for social mega projects? You guessed it , Trudeau will confiscate your savings account.

#58 Jenny Wang on 12.02.19 at 3:05 am

Another reason why renting is an alternative.

https://trib.al/WIJ6yUT

Condo owner insurance is out of control. Maybe it’s time for people to realize that Canada is not a livable country any more. Between Trudeau ratcheting up taxes , confiscating home equity and forcing you to take in borders , and indirect vultures now circling there’s nothing left to look forward too. Leave the country before everything you own gets stolen.

#59 The Real Mark on 12.02.19 at 3:35 am

Let me get this straight. “Tom” has basically admitted he’s paid twice the market rate for his services. Yet as someone with “P&L responsibility”, he’s not doing something that would actually potentially save the company, and that is, rationalize his own salary (and that of the people over whom he has control) so that they don’t go out of business.

Hard to have a lot of sympathy here for companies that are still behaving, at least when it comes to management compensation, that O&G sells for top dollar. Even then, why were they ever paying twice market compensation?

There would never be any bitumen in the pipeline. Every time you hear some environmentalist go on about the dangers of bitumen in the water realize it can’t happen and he is relying on both his own and your own lack of education about such things.

Diluted bitumen is routinely shipped by pipeline. The problem is that it separates back into bitumen and the NGL’s (ie: pentane) when pipelines break. The bitumen component not being recoverable by traditional booms, but rather, settles to the bottom. The diluent being very highly flammable. Sort of the worst of both worlds. A much better long-term plan would be to have the bitumen upgraded into synthetic oil that would not need dilution by diluent, and would free up pipeline capacity for transportation of more higher-value product.

#60 Headhunter on 12.02.19 at 7:19 am

#57 Jenny Wang on 12.02.19 at 1:24 am
—————————————————–

Triple WOW! Well said. Say what you want about China but they get shit done. All the latest Engineering feats, Bridges Dams High speed trains. China.

“look guys for the interest of the entire country we are putting a pipeline in.. both east and west.. for the people displaced sorry but the needs of the many far out weigh the needs of a few”

Its obvious to anyone with a IQ bigger then their shoe size that Democracy here in Canada its its present form does not work. No Libs in AB or SK, yet they get slagged as “whiners””suck it up buttercup stuff” makes me shake my head.

The other poster said “money has no borders and goes where it is treated the best” is bang on also. No business in their right mind would open up shop here in Canada.. too expensive.. would be up there but the list is way too long even for this blog.

#61 OK, Doomer on 12.02.19 at 8:05 am

#55 Ok, Doomer on 12.02.19 at 12:16 am
Whoops, looks like there are 2 of us using this handle, but #23 used it first so I will desist.

_________________________________

Happy to share the handle with you. The more the better! It’s the sharing economy now, as the Mills are wont to point out.

To steal from JFK:

“Ich bin ein OK, Doomer”

#62 Re-Cowtown on 12.02.19 at 8:10 am

C’mon GT, what I said was on point. I find it odd that ridiculing someone else’s plainly offensive behavior is a cause for DELETED, but you’re the boss, so I’ll clean it up for everyone now:

#25 Al on 12.01.19 at 6:37 pm

How did Ontario end up with a college dropout as Premier of the Province?

+++++++++++++++++++++++++++++++++++

They were all out of unemployed drama teachers.

Trudeau was an MP for eight years before entering a leadership contest, that he won, and two general elections. Belittle the man’s policies, not his accomplishments – which likely outpace yours. – Garth

#63 Randy on 12.02.19 at 8:15 am

Guess what ??? They put a lien on your property. It’s called the Education portion of your property taxes. The Marxists have effectively confiscated a piece of your equity. You will never own your own property…..but you already knew that.

#64 crowdedelevatorfartz on 12.02.19 at 8:16 am

@#29 Unemployed oil engineer
“Bitumen cannot be shipped by pipeline. It’s too thick to pump. It can be shipped by rail but only in heated cars.
The products made from bitumen that can be shipped by pipe are two: Dilbit and Syncrude. Dilbit (diluted bitumen) is a mixture of bitumen and a diluent, mostly pentane.

++++

Poe-TAY-Toe
Poe-TAH-Toe

Either way toxic goo mixed with other toxic goo is heated, piped, loaded, shipped, whatever ….
When ( not if) it eventually spills …. NIMBY activists dont want Dilbit or Syncrude in their back yard…
That wasnt too hard to understand was it?

If you started every enviro stump speech with that engineering lecture about the differences between Bitumen, Dilbit and Syncrude you’d have the audience snoring in the aisles….. but then again you “ring-knockers” have to explain everything to the N-th degree…
You should switch to environmental engineering….you’d be employed.

#65 Tater on 12.02.19 at 8:19 am

#57 IHCTD9 on 11.28.19 at 10:59 pm
#19 Tater on 11.28.19 at 6:20 pm

Oh my, you’ve very much missed the point. Though I imagine that’s a pretty common occurrence for you, so must feel comfortable.

You seem to think hard work can cure addiction. You are wrong. But keep believing you’re right, contrary to all evidence. You wouldn’t be a conservative if you didn’t!
————

Tater my Man, you really need to up your invective game. You’re already reduced to calling me a dumb conservative? I suppose if you knew more about me you’d also be gleefully insulting my appearance alongside your jello brained “sky daddy” comments. Then you’d challenge me to a bare knuckle brawl like you did to one of the other posters here.

Seriously, you are shaping up to be one of those dudes where debate can be won with a little provocation followed by silence.

Anyway, if you think feeding crackheads an endless supply of free junk will cure them, be my guest.

A solid day’s work is miles ahead of sitting in the gutter jacked up on government issued crack any day imho.

——————————————————–
People going through withdrawal are great workers.

But, let’s leave that aside for a second and take a look at the favorite trick of the conservative: Make something up, and keep repeating it until others believe it’s true. I never challenged anyone here to a fight. And it doesn’t matter how many times you say it, it doesn’t magically become true.

Kinda like the lord’s prayer.

#66 NoName on 12.02.19 at 8:20 am

@ The Real Mark

Do you happened to know what is dilution mix between dilutant and bitumen, and do you happened to know did dilution mix changed recently. :-)

#67 crowdedelevatorfartz on 12.02.19 at 8:34 am

@#60 headhunter
“Say what you want about China but they get shit done. All the latest Engineering feats, Bridges Dams High speed trains. ”
++++

Might have something to do with the totalitarian government crushing all vocal opposition and not giving two shites about the environment……

As for their “go go” construction ….. quality takes a back seat.

https://www.youtube.com/watch?v=q9Ap0aRUx8E

https://www.youtube.com/watch?v=MCmC9Un8Vy8

A small bridge in Victoria BC took extra time to build because the Chinese steel was rejected and re ordered.

http://www.timescolonist.com/news/local/victoria-halts-payments-over-bridge-steel-quality-1.2116038

Reminds me of the massive highway overpass in Italy that collapsed last year and rumours of mafia construction short cuts…..

https://www.theguardian.com/cities/2019/feb/26/what-caused-the-genoa-morandi-bridge-collapse-and-the-end-of-an-italian-national-myth

Corruption in the Chinese construction industry?
Really?
I cant wait to see how their rushed Dams, bridges, etc fare in the next 10, 20 years….time will tell.

But not to worry
Now that they have bulldozed, cut, burned, buried and paved everything over with concrete…..they may finally look around and realize 1.3 billion people need to eat.
We’ll sell them our grain, pork, oil and clean water…..

#68 Remembrancer on 12.02.19 at 8:35 am

#11 Slim on 12.01.19 at 4:26 pm
If by some miracle Alberta manages to separate, you’ll see many Albertans heading for the exits. At least the moving companies will be busy. Kenny needs to take this whole Wexit idea out behind the barn and shoot it.
——————————————–
But his side coalition of Wexit crankies, vaxer-like crackpots and fundamentalist home schoolers helped get him elected, gotta keep the tent happy…

#69 Remembrancer on 12.02.19 at 8:44 am

#54 meslippery on 12.02.19 at 12:04 am
Just thinking out loud.
So the Sun been burning a while now, should some of if not be gone and its burning less hot now??
Think camp fire. Not really much we can do
to add wood..
—————————————–
Current consensus estimates is about 5 billion years to go – the last billion might be a bit rougher, if we don’t add in the high mileage hydrogen additive though…

#70 Dharma Bum on 12.02.19 at 8:48 am

Just wondering:

I’m a white heterosexual male from Ontario driving a Subaru, but I identify as an indigenous aboriginal perioriented polysexual heteronormative female Albertan driving an F150 pickup with truck nuts looking for a safe space.

Is there a program an I apply to for some federal or provincial cash handouts?

#71 Re-Cowtown on 12.02.19 at 8:48 am

Trudeau was an MP for eight years before entering a leadership contest, that he won, and two general elections. Belittle the man’s policies, not his accomplishments – which likely outpace yours. – Garth

++++++++++++++++++++++++++++++++

You’re right Garth. All my role is to be is to silently fund his largesse. That deserves no respect at all.

Childish comments about others’ background makes you irrelevant. – Garth

#72 IHCTD9 on 12.02.19 at 9:10 am

#48 Ponzius Pilatus on 12.01.19 at 10:34 pm
#31 Dr V on 12.01.19 at 7:29 pm
22 MF – maybe if we recognized AB as a”distinct society” it would help.
————-
I’d vote for that.
The hillbillies, rednecks, F-150 afficiados should be protected as an endangered species.
___

Pfffft, AB has one of the youngest and most fertile populations in Canada.

Redneck F150 driving Hillbillies are the future of Canada as far as Canadians go.

#73 MF on 12.02.19 at 9:39 am

#67 crowdedelevatorfartz on 12.02.19 at 8:34 am
#60 Headhunter on 12.02.19 at 7:19 am

-Agreed with fartz.

This Headhunter guy just represents the typical dumbed down, gullible, low IQ consumer of social media, who is easily swayed by internet trolls. They usually cannot see the difference between a troll and a real poster and will fall prey to the emotional carrot being wagged in front by the said troll.

It’s a sad day when some (assuming) boomer like Headhunter cannot understand the difference between a one government police state and a plural democracy. I guess as time goes on and the fall of the Soviet union gets further away people forget? Social media muddies the water further, of course, and state propaganda will do the rest.

Good job Fartz.

MF

#74 Sail Away on 12.02.19 at 9:41 am

#69 Remembrancer on 12.02.19 at 8:44 am
#54 meslippery on 12.02.19 at 12:04 am

Just thinking out loud.
So the Sun been burning a while now, should some of if not be gone and its burning less hot now??
Think camp fire. Not really much we can do
to add wood..
—————————————–
Current consensus estimates is about 5 billion years to go – the last billion might be a bit rougher, if we don’t add in the high mileage hydrogen additive though…

—————————

My god, only 5 billion years? What if we plant some trees? Tgink about your children!

#75 Jenny Wang on 12.02.19 at 9:44 am

Guru futurist demographer Dr David Foot caught a whiff, got the timing completely wrong, and misread the upgrade dream opposed to downsize doom of Boomers in his Boom Bust Echo. But, give him credit for recognizing that the tide was getting sucked out when he forecast and inevitable tsunami. Good lesson for investors too, don’t back blue sky plays blessed by macro-economists….like climate, marijuana, tattoo’s, health care and water. Today’s seniors want more square footage not less. Greed is good. Look no farther than double dipping teachers who upsize into multi million dollar mortgages instead of into graceful retirement.

But, at one point it will happen and millions of people will be forced to liquidate, because they’re dying.

MarketWatch: These housing markets will feel the biggest impact from the ‘Silver Tsunami’.
https://www.marketwatch.com/story/these-housing-markets-will-feel-the-biggest-impact-from-the-silver-tsunami-2019-12-02

And I don’t see anything wrong with calling out Trudeau for his incompetence. Sure, he was a nobody pretty boy MP in an undesirable riding. But he should never have been allowed run as PM. It’s like making the pizza delivery boy CEO of Domino’s.

#76 crowdedelevatorfartz on 12.02.19 at 9:45 am

@#58 Jenny Wang
“….. insurance is out of control…..”
+++++

Its all insurance , not just Condo insurance…..

All insurance companies are expecting bigger claims and more claims moving into an uncertain climate future.
Mark Carney recently made a speech noting that only 35% of businesses world wide have “climate change plans” to deal with extra expenses due to extreme weather or natural disasters…..

https://www.americanprogress.org/issues/economy/reports/2019/11/21/477190/climate-change-threatens-stability-financial-system/

Higher costs and rates are coming…..like it or not.

#77 MF on 12.02.19 at 9:47 am

#72 IHCTD9 on 12.02.19 at 9:10 am

-Yeah and Nunavut’s population makes Alberta’s median age look like a bunch of cranky retirees:

https://www150.statcan.gc.ca/n1/pub/91-215-x/2012000/ct009-eng.htm

You’ll also see that the median age in Alberta is 37 (versus 40) in Ontario. Not exactly peak fertility in my books.

Basically using Alberta’s median age as a selling point is a pretty weak argument.

MF

#78 Sail Away on 12.02.19 at 9:52 am

I propose a ‘Sun Burnout Tax’ to fund R&D into an alternative, sustainable light/heat source, and vow to use no more sun, or at least gain enough sun credits to be ‘Sun Neutral’.

30 minutes of sun singing at dawn gains 5 Sols, to offset 1 minute of sun use per Sol. Planting trees is discouraged as trees are huge Sol committers.

Sun Burnout deniers will be roundly criricized and taxed.

#79 Headhunter on 12.02.19 at 9:59 am

#73 MF on 12.02.19 at 9:39 am
#67 crowdedelevatorfartz on 12.02.19 at 8:34 am
#60 Headhunter on 12.02.19 at 7:19 am

-Agreed with fartz.

This Headhunter guy just represents the typical dumbed down, gullible, low IQ consumer of social media, who is easily swayed by internet trolls.

______________________________

MF this shit ever gets old.. when you have to resort to “name calling” you have lost biggly. I guess all the mirrors in your house are broken?

Think of something new if you are able.

HH

#80 IHCTD9 on 12.02.19 at 10:01 am

More thinking done on the topic of broke governments and RE.

I think Trudeau will make a move this term taking out the PR exemption. It will likely be a 0-5 year thing where the tax disappears thereafter.

We already have City/Provincial empty house taxes, foreign buyer taxes, I think a wealth tax too in some provinces, all on RE. The Feds are now piling on too.

This is the the time for spec buyers and flippers to start paying attention. That glowing red dot on your forehead? That’s the City, the Province, the Federal Government, and your fellow Canadians. All these folks are brimming with great reasons why you should pay more. Ears open? Better be. We can barely go a week these days without some new RE owner spanking idea floating around the MSM.

Taking a good assessment of the hard case enveloping the IHCTD9 main Bunkers – It looks like I am in good shape. I have not/will not be affected by any of these taxes as they will likely unfold.

As if things needed to get any worse in the GTA and GVRD for prospective RE owners. You may lose your appetite over the next 4 years.

You may even smile at your good fortune having been priced out.

#81 Re-Cowtown on 12.02.19 at 10:03 am

I stand by my comments. Trudeaus policies and the person all spring from the same tepid fount. Ill advised, poorly informed, immature and naive. But let’s look at his accomplishments, as you suggest:

He singlehandedly inflamed WEXIT, presided over the resurgence of the BQ, naively played into Trump’s hands on the Huawei affair, costing western farmers billions and screwed up the economy of Alberta by refusing to enforce federal law.

Instead of enforcing the law when it was for the good of the whole country, he skirted the law and interfered in the SNC affair when it suited his own political interests, then blamed and demoted and ultimately exiled the woman who refused to play along with his charade.

T2 has no plan, other than to continue to play one part of Canada off against the other using taxpayer money and cling to power. Set that against the backdrop of juvenile, silly and embarassing public behaviour when he was already our PM and you have a picture that is less than pretty.

My personal take on his elections is that he was born with an electable name and the inhertited kingmakers around him worked to promote the name, not the person, to the PMO’s office. If his name was Alfred Hickenlooper Jr. he would have been fortunate indeed to rise to the level of a backbencher nobody as his father so eloqently put it.

Do I think T2 is an unworthy pretender? Absolutely. Canada and the PMO deserve far more than he is capable of delivering.

#82 Headhunter on 12.02.19 at 10:04 am

“when the debate is lost slander (name calling etc) is the tool of the loser’

Socrates

#83 IHCTD9 on 12.02.19 at 10:27 am

#77 MF on 12.02.19 at 9:47 am
#72 IHCTD9 on 12.02.19 at 9:10 am

-Yeah and Nunavut’s population makes Alberta’s median age look like a bunch of cranky retirees:

https://www150.statcan.gc.ca/n1/pub/91-215-x/2012000/ct009-eng.htm

You’ll also see that the median age in Alberta is 37 (versus 40) in Ontario. Not exactly peak fertility in my books.

Basically using Alberta’s median age as a selling point is a pretty weak argument.

MF

___

Who is selling anything?

I was just telling Ponzie that the Rednecks and Hillbillies are still getting down with the ladies (unlike the big city folks).

BTW: 2015 data says 36.2 in AB and 40.6 in Ontario. That’s a pretty good spread. Looks like AB is getting younger… (your link showing 37 for AB is 2012 data).

https://www150.statcan.gc.ca/n1/pub/91-215-x/2015000/t593-eng.htm

#84 Sail Away on 12.02.19 at 10:39 am

If Alberta were to exit, would it have to settle all native land claims first? Currently, 120% of the land is under overlapping claims. Not much Alberta left after that…

#85 Yukon Elvis on 12.02.19 at 10:39 am

By Howie Mandel.

Trudeau 4 years of accomplishments:

Post a link. Don’t copy/paste 1,100 words. – Garth

#86 the Jaguar on 12.02.19 at 10:42 am

#53 fishman on 12.01.19 at 11:47 pm

Classic Fishman understatement. The thought of being on water in night hours makes the Jaguar’s blood run cold, never mind on a rainy cold night. Too scary to even think about………

#87 AB Boxster on 12.02.19 at 10:53 am

#50 Gravy Train on 12.01.19 at 10:40 pm

Are you now a free trader? But aren’t you also a Trump supporter? Trump’s not a free trader; he’s a nativist and a protectionist!
——————

Sorry buddy, (buddette?). There is no country in the world that is a free trader. Every single country trades only in their own self interest.

That Trump has put a stop to years of job loss, intellectual property theft, and massive wealth transfer out out of the US really upsets the globalists.
Trump is not free trader. They tried free trade and China ate their lunch. He is a fair trader, which is the best that can ever be expected.

Canada as a country has never been a free trader or even fair trader. This country just rides on the coat tails of the US, all the while claiming moral superiority to the You-alls.

The Canadian constitution actually guarantees free movement of trade between provinces.
You knew that right?

That was killed by the SCOC last year who decided the ‘free movement of goods’ does not mean free movement of goods. Brilliant right?

But constitutional rights mean nothing in Canada anymore. The leftist elite and the SCOC nutjobs have seen to that.

This is why Canada is a failed state. None of the core principles that were supported as part of the formation of Canada, have any meaning any more. There is nothing that binds Canada as a country together any more.

Most trade in Canada is north-south now anyways. Well except for the forced government mandated trade that forces the country to buy inferior cheese and other dairy products form Quebec and Ontario.

Canada has truly become a Post National State, with individual regions carrying out their own self interest, with no core or common values, and in fact no real reason to stay as country at all anymore.

#88 Ponzius pilatus on 12.02.19 at 11:05 am

Higher condo insurance?
Just blame Horgan and his merry band of socialists.
Same for ICBC.

#89 IHCTD9 on 12.02.19 at 11:07 am

#65 Tater on 12.02.19 at 8:19 am

I never challenged anyone here to a fight.

______

Lie.

#90 Laughable little man on 12.02.19 at 11:28 am

DELETED

#91 oh bouy on 12.02.19 at 11:29 am

@#70 Dharma Bum on 12.02.19 at 8:48 am
Just wondering:

I’m a white heterosexual male from Ontario driving a Subaru, but I identify as an indigenous aboriginal perioriented polysexual heteronormative female Albertan driving an F150 pickup with truck nuts looking for a safe space.

Is there a program an I apply to for some federal or provincial cash handouts?
_______________________________________

They may have a good program for you over at CAMH :)

#92 Sail Away on 12.02.19 at 11:48 am

#86 the Jaguar on 12.02.19 at 10:42 am
#53 fishman on 12.01.19 at 11:47 pm

Classic Fishman understatement. The thought of being on water in night hours makes the Jaguar’s blood run cold, never mind on a rainy cold night. Too scary to even think about………

—————————————-

It’s rarely the water, wind or rain that causes problems. Land is the issue. I’ll take 100 miles offshore in a nighttime gale over the same in the Fraser or Juan de Fuca anytime.

#93 Tater on 12.02.19 at 12:02 pm

#89 IHCTD9 on 12.02.19 at 11:07 am
#65 Tater on 12.02.19 at 8:19 am

I never challenged anyone here to a fight.

______

Lie.

——————————

Nope. Someone using Dana White as a screen name suggested that Stan and I step in to the octagon and I agreed. Because it seemed obvious that he wasn’t, actually, Dana White, and was instead a joke.

But, things that are obvious to most of us, seem to elude you.

And to be explicitly clear, I wasn’t posting under Dana White.

#94 Remembrancer on 12.02.19 at 12:10 pm

#79 Headhunter on 12.02.19 at 9:59 am
#73 MF on 12.02.19 at 9:39 am
#67 crowdedelevatorfartz on 12.02.19 at 8:34 am
#60 Headhunter on 12.02.19 at 7:19 am
MF this shit ever gets old.. when you have to resort to “name calling” you have lost biggly. I guess all the mirrors in your house are broken?

Think of something new if you are able.

HH
————————————————
Yes, an ad hominem attack is an unimaginative form of debate, but that doesn’t mean you’re right…

#95 GBiddy on 12.02.19 at 12:12 pm

#38 Sail Away on 12.01.19 at 8:27 pm
#20 Andrewski on 12.01.19 at 6:21 pm

Re #7 Nita Graves. Check your grammar teacher, “ I must protest your forever advising your reader”. Pretty sure it should be “…you’re (contraction of you are) forever advising”…

——————————-

You are wrong, Andrewski. Be very careful when calling someone out.

Oh grammar wankers, you’re all missing the most important point: good grammar doesn’t mean good writing.

The original criticism is poorly written, plain and simple. The proof is the fact that it’s causing confusion. Good writing is clear and unambiguous.

So, any of these would have worked better than “I must protest your forever advising your reader…”:

“I think you’re wrong…”
“Lending might be clearer than loaning…”
“You might be using ‘loaning’ incorrectly…”

Etc.

Sheesh.

#96 IHCTD9 on 12.02.19 at 12:43 pm

#26 Ok, Doomer on 12.01.19 at 6:55 pm

I think the deficits are now structural and destined to continue to grow in size as has happened in the US. The main problem in Canada right now is demographics. Ontario and Quebec are very old, globally speaking, and as their aging workforce retires not only will they pay less tax but they will increasingly be drawing CPP and OAS. It’s a slow motion train wreck and the cars are already piling up on the side of the tracks.

There is no way to fix this using tax increases as the very people you’d have to tax are the ones retiring. Immigration won’t fix it either.
___

Good Post. The demographics are for sure going to be problem #1. The tax load on the working will become larger and larger as Boomers retire, and later fall ill in their twilight years. The debt is definitely structural at this point. Politicians aren’t even promising to try and get a handle on it anymore, and the rest of us don’t seem to care.

There is only so much tax a government can realize before the payers of same tighten their belts and cut back. Over half our gdp is consumer spending. Put taxes up, and revenues went down? That marks the end of the road. Once you provoke folks to actively dodge and avoid taxation – it’ll be a long time before that behaviour stops. Rich folks too, can only take so much before they exit a country which is getting too abusive on the tax front.

Immigrants feel the same way – if it turns out they are slaving dawn till dusk only to fall further behind, they bail. Canada already loses between 30-40% of all its immigrants within 10 years of showing up. You can’t expect these folks to stick around if they never get anywhere and keep getting pounded with new taxes.

So I agree 100% and for many more reasons than posted above, that more taxes and more immigration will not cover our baked in demographic problem.

#97 TurnerNation on 12.02.19 at 12:51 pm

Oh god we are doomed. CC = $$. This is the final take down into world communism. Carney also pushing a new Canadian Crypto currency. Get the mark, Mark.

https://www.ctvnews.ca/world/mark-carney-named-un-envoy-for-climate-action-and-finance-1.4710360
TORONTO — Bank of England governor Mark Carney has been named the United Nations special envoy on climate action and finance, a role that will focus on mobilizing the finance sector to take climate action.

….
I always said a day will come here whereby armed government men destroy foodstuffs or kick people out of perfectly good homes. Maybe they didn’t pay their carbon permit or tax, maybe the home failed a manadatory energy audit.

How realistic is this, given it’s ALREADY happening and in fact in 2011. Coming soon:

https://www.nytimes.com/2011/09/22/world/africa/in-scramble-for-land-oxfam-says-ugandans-were-pushed-out.html

The company involved, New Forests Company, grows forests in African countries with the purpose of selling credits from the carbon-dioxide its trees soak up to polluters abroad. Its investors include the World Bank, through its private investment arm, and the Hongkong and Shanghai Banking Corporation, HSBC.

But there was just one problem: people were living on the land where the company wanted to plant trees. Indeed, they had been there a while.

#98 Ubul on 12.02.19 at 12:55 pm

#91 oh bouy on 12.02.19 at 11:29 am

@#70 Dharma Bum on 12.02.19 at 8:48 am
Just wondering:

I’m a white heterosexual male from Ontario driving a Subaru, but I identify as an indigenous aboriginal perioriented polysexual heteronormative female Albertan driving an F150 pickup with truck nuts looking for a safe space.

Is there a program an I apply to for some federal or provincial cash handouts?
_______________________________________

They may have a good program for you over at CAMH :)

That would have been a decade ago. Keep up with the program.

#99 IHCTD9 on 12.02.19 at 1:03 pm

#95 GBiddy on 12.02.19 at 12:12 pm
#38 Sail Away on 12.01.19 at 8:27 pm
#20 Andrewski on 12.01.19 at 6:21 pm

Re #7 Nita Graves. Check your grammar teacher, “ I must protest your forever advising your reader”. Pretty sure it should be “…you’re (contraction of you are) forever advising”…

——————————-

You are wrong, Andrewski. Be very careful when calling someone out.

Oh grammar wankers, you’re all missing the most important point: good grammar doesn’t mean good writing.

The original criticism is poorly written, plain and simple. The proof is the fact that it’s causing confusion. Good writing is clear and unambiguous.

So, any of these would have worked better than “I must protest your forever advising your reader…”:

“I think you’re wrong…”
“Lending might be clearer than loaning…”
“You might be using ‘loaning’ incorrectly…”

Etc.

Sheesh.
____

I had no issues understanding that sentence by Nita. I think what may have happened here is that Nita may be elderly, and there are different styles of saying things based on the generation saying it.

I myself, would not blame Nita’s technically correct grammar if only a few readers were having trouble understanding what she wrote.

The only issue IMHO is using the word “your” twice in close proximity. I have no idea if that’s a grammar issue or not, but it makes me want to read the sentence twice or more before moving on!

#100 IHCTD9 on 12.02.19 at 1:18 pm

#93 Tater on 12.02.19 at 12:02 pm

I never challenged anyone here to a fight.

______

Lie.

——————————

Nope.
_____

Yep.

If we were all dumb as a stump, we might think that because you did not state “I challenge you to a fight” that you didn’t want a fight.

But we’re not all stupid. Plenty here read the whole exchange. Garth even felt the need to step in between you two doorknobs at some point because things were getting too heated.

I understand your need to erase that little faux pas from the record, but it’s just not going to happen.

#101 Shawn Allen on 12.02.19 at 1:44 pm

Money Lost in Crypto Fraud?

#51 Where is the money? on 12.01.19 at 10:45 pm rported:

My name is Dom and I live in Vancouver and physically went into Einstein Exchange. To fund your wallet a “Bank Draft” was required, not a personal cheque. You also needed ID and documents showing current living address. I had $140k in FIAT in my wallet waiting for an entry into the crypto space.

Grant thornton said all monies are gone. They spent it all on business expenses and fraud.

The company had about 200,000 clients around the world.

***********************************
So someone put $140k of actual real money into some small crypto company with a view to placing in a crypto currency?

This person refers to the very real money lost as FIAT (mere fiat)? No great loss then?

I mean it is hard to have much sympathy for this loss.

A fool and his money are soon parted it seems. At this point perhaps it can be seen as an expensive but valuable lesson to this person and others.

If you see the word fiat in anything you are reading. That is a real danger signal.

#102 Tater on 12.02.19 at 1:47 pm

#100 IHCTD9 on 12.02.19 at 1:18 pm
#93 Tater on 12.02.19 at 12:02 pm

I never challenged anyone here to a fight.

______

Lie.

——————————

Nope.
_____

Yep.

If we were all dumb as a stump, we might think that because you did not state “I challenge you to a fight” that you didn’t want a fight.

But we’re not all stupid. Plenty here read the whole exchange. Garth even felt the need to step in between you two doorknobs at some point because things were getting too heated.

I understand your need to erase that little faux pas from the record, but it’s just not going to happen
——————————————-

#115 Dana White on 05.28.19 at 10:35 am
I propose a battle in the octagon between Tater and Stan Brooks. Best way to settle this on going battle is a mano to mano fight to the finish in the octagon. Are you gentlemen up to the task?

The stump says what?

#103 Russ on 12.02.19 at 1:54 pm

#92 Sail Away
……………………

You got that right about being well out to sea (off the bank) in a gale.

Land is a navigational hazard.

Life aboard while hove to is not too bad if you have a good boat.

Cheers, R

#104 Tater on 12.02.19 at 2:12 pm

#79 IHCTD9 on 05.28.19 at 10:46 pm
#61 Tater on 05.28.19 at 9:42 pm

Anyone surprised that Stan pays for sex?
—-

Given the current state of male/female relations in the West, this might not be the insult it once was…(lol?)

FWIW, I’d pay a good buck to see a Tater vs. Stan cage match. I’ll fight the winner :)!
————————————

So were you joking here or are you just a hypocrite?

#105 Sail away on 12.02.19 at 2:27 pm

#103 Russ on 12.02.19 at 1:54 pm
#92 Sail Away
……………………
You got that right about being well out to sea (off the bank) in a gale.
Land is a navigational hazard.
Life aboard while hove to is not too bad if you have a good boat.
Cheers, R

———————–

Maybe… Being hove to in a gale is ok until the waves have built the point the crest/trough starts blocking the wind which lets the boat fall off the quarter in the trough and get hammered.

Only been in that situation once- two full days of screaming gale off Cape Mendocino (way off- 120 miles
or so) in California. Hove to for the first day, but by day 2 the waves were over 10m and the only way to stay head to wind was with the para anchor.

Big thanks to Lin and Larry Pardey for their para-anchor tips.

#106 45north on 12.02.19 at 2:32 pm

Ok, Doomer:

the deficits are now structural and destined to continue to grow in size

There is no way to fix this using tax increases as the very people you’d have to tax are the ones retiring. Immigration won’t fix it either.

Capital knows no borders and it goes where it’s treated best, and that ain’t Canada.

Poor Alberta is dying on the vine so they can’t be expected to fund the shortfall any longer.

All one has to do is look at a rail or pipeline map to realize that most of our trade is with the US, not with each other.

The federal government cannot even approve a needed pipeline expansion in an existing pipeline route because BC has usurped federal jurisdiction, even after the most exhaustive review process probably in history for any pipeline anywhere in the world. To say there is enmity between Victoria and Edmonton hardly describes it.

Even the Canadian border for the most part is just a line on a map.

Unfortunately Canada as a whole no longer has the structures and stability that attract investment capital, and that is true in Ontario as much as Alberta. Canada, as a long term project, is finished. It’s just a matter of what will set off the collapse, and how long it will take.

good observations but that’s the key – they’re observations – things seen by an observer. We need to move from being observers to being doers. Get in the game.

#107 45north on 12.02.19 at 2:38 pm

Nita Graves: I must protest your forever advising your readers on “loaning” money to their squeezes when indeed it is “lending” at issue.

never thought about it. Lend is the verb. Loan is the noun.

https://www.merriam-webster.com/dictionary/lend

https://www.merriam-webster.com/dictionary/loan

#108 IHCTD9 on 12.02.19 at 2:39 pm

#102 Tater on 12.02.19 at 1:47 pm

#115 Dana White on 05.28.19 at 10:35 am
I propose a battle in the octagon between Tater and Stan Brooks. Best way to settle this on going battle is a mano to mano fight to the finish in the octagon. Are you gentlemen up to the task?

The stump says what?
___

That is not the exchange in question, and you know it.

..and so do we.

There is only so long I will carry on replying to a bold faced liar.

Ball’s in your court T…

#109 IHCTD9 on 12.02.19 at 2:47 pm

#104 Tater on 12.02.19 at 2:12 pm

#79 IHCTD9 on 05.28.19 at 10:46 pm

FWIW, I’d pay a good buck to see a Tater vs. Stan cage match. I’ll fight the winner :)!
————————————

So were you joking here or are you just a hypocrite?
____

Ok Tate, I think it’s clear you’re pretty much out of ammo on this one, and I’m getting a little bored watching a guy flailing about trying to do damage control.

Later skater!

#110 Jesse on 12.02.19 at 2:50 pm

“money has no borders and goes where it is treated the best”

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

I wish more Canadians would understand this. Canada resembles a failed state more and more with each day.

The money has left the country, and won’t be returning. But hey – we can tell the world we are *green* and broke!

#111 Gravy Train on 12.02.19 at 3:29 pm

#107 45north on 12.02.19 at 2:38 pm
“never thought about it. Lend is the verb. Loan is the noun.” Good golly, Miss Molly. ‘Loan’ is also a verb, meaning ‘lend’. Check your own links more thoroughly. Wow! :)

#112 Tater on 12.02.19 at 3:35 pm

#108 IHCTD9 on 12.02.19 at 2:39 pm
#102 Tater on 12.02.19 at 1:47 pm

#115 Dana White on 05.28.19 at 10:35 am
I propose a battle in the octagon between Tater and Stan Brooks. Best way to settle this on going battle is a mano to mano fight to the finish in the octagon. Are you gentlemen up to the task?

The stump says what?
___

That is not the exchange in question, and you know it.

..and so do we.

There is only so long I will carry on replying to a bold faced liar.

Ball’s in your court T…

——————————————
Calling me a liar with no evidence is rich. The internet doesn’t forget. Find another example of me challenging someone to a fight in the comments here. $100 to the charity of your choice.