The news

And now for the news. Sit, stay and pay attention.

MOMS BUSTED: Yup, the cops moved their squatter butts out of that house in Oakland, California during a morning operation. It took several sheriffs, some guns, 30 SWAT guys and a mini cop-tank to do it, but the Moms4Housing are now kaput. There were four arrests. Supporters milled around. The media showed up. Outrage ensued. And the house, finally vacant after three months of illegal occupation, was boarded up by the corporate owners who will reno, sell and donate the proceeds to charity.

Is housing a human right? Not in California, obviously. You can’t squat and stay. But in Canada, thanks to the current government, it is now a human right. At the same time, Canadians have no constitutional provision to own property. Keep your eye on this.

THEY DON’T CARE: Like you didn’t know this, but a new survey makes it official. Many lenders in Canada, like opioid docs, don’t really care about the impact of their loans. Incredibly, over 40% of financial institutions admit their operations are sales-oriented instead of customer-focused, and clients ‘don’t understand the financial products they purchase.’

Yikes. No wonder close to half of all Millennials would rather deal with an app than a banker, saying they avoid contact with financial types. And no wonder we’re drenched, saturated, pickled and drowning in debt. This survey comes from a credit union (DUCA), so it’s self-serving, but revealing. What is all this debt doing to us?

“Nearly half of borrowers surveyed report that personal debt has impacted their ability to save and build wealth. The report shows a significant number of borrowers surveyed experience stress due to personal debt and are driven to unhealthy behaviours as a result, including trouble sleeping, and poor lifestyle choices like skipping meals, eating unhealthy foods and spending more time alone.”

We knew it. Over-eating, fatigue, criminal behaviour and sexual frustration – it’s all the fault of [email protected] who made us borrow. Bad, bad bankers. When the revolution arrives, we’re coming for you.

SURPRISE, KIDS: The current rage is MMT – modern monetary theory – which says since governments have the ability to print money, why not crank out enough to pay for all of society’s needs? Education, health and a guaranteed income, for example. Of course the more money, the less all existing money is worth, so the greater the inflation. The other option for spendy governments is to borrow wildly – which is what Ottawa’s chosen to do.

A new report says the Trudeauites added $56 billion to the national debt between 2015 and 2018, and this is set to explode higher. Another $26 billion year. Another $28 billion next year. In fact, there is no timetable whatsoever for the borrowing to stop. Despite coming tax increases, Ottawa will be spending far more than it takes in.

Where does it end?

With future generations, says the Centre for Productivity and Prosperity in Montreal. If interest rates rise a little (will happen) then today’s youth will be tomorrow’s pooched. “All it will take is a few percentage points and the situation could deteriorate quite quickly,” it says. ”The day an economic shock occurs, we’ll have bought ourselves trouble by accumulating a more-or-less useless debt.”

So if you think taxes are high now when national debt service costs equal 7% of federal revenues, just wait and see what happens when they hit 30%. Like the credit union people (above) said, nothing good comes of binging.

OF COURSE YOU CAN: And we have time left for a quick MSU plus a burning question:

Good day Garth, you helped me out a few years ago when selling my house in Ft Mac. I literally made zero money on owning it, and now looking back in hind sight, my sale was an early trigger to a declining market which would only get worse (even before the fires). Thank you for listening, thank you for responding, and thank you for your blog. Anyways, I’m hoping in your infinite wisdom (obligatory sucking up taken care of), you may be able to help me out as Mr. Google hasn’t really been able to directly answer my question.

I have about $40k in no-foreseeable-use-for-it cash currently sitting in a Tangerine account right now. I figured that I’d give it to my wife for her TFSA, but will either of us pay any taxes on that, even if I officially loan her the money and charge her interest? I keep reading that I can gift money to her tax free, but then if she uses that money to invest, I’d be on the hook for the tax bill, but what about if it goes into a TFSA? This is what I can’t find an answer on and I’m hoping you can help me out? I’m assuming the tax man would eventually discover my deposit one day and her transfer to her TFSA the next day. What would you recommend we do here? Thanks! Freezing in Alberta – Chris

Relax. It’s all good. You can certainly fund your squeeze’s TFSA and a spousal loan structure is not required. Just move the funds into her hands (a bank account) then she can put them into a TFSA and invest in growthy assets. There will be no attribution back to you, since all gains will be free of tax within the plan. Remember to make each other ‘successor holder’ (not beneficiary) of each other’s accounts.

If you have money for her to invest in a non-registered account, earning income at her lower tax rate, a spousal loan is the best option. The rate is just 2%. It’s deductible from her taxes. No attribution to you. Just be nice to her. Like always.

Okay, back to watching Animal Planet now. No bankers there.

98 comments ↓

#1 Shawn Allen on 01.15.20 at 3:42 pm

Reverse mortgages – stop exaggerating

I just checked and you can take the money out monthly rather than lump sum. So the woman, Ruth, who needed it for expenses would do that. She might get approval for some large amount but then could take it out monthly.

So, in her scenario the horrors of a $500k mortgage from the start and growing is just a big exaggeration.

Didn’t I tell you all a million times to stop exaggerating!

Interesting. The information came from her daughter. Were you speaking with her? Or just bloviating? – Garth

#2 gmac2412 on 01.15.20 at 3:49 pm

Longtime listener, first time caller…..

If MMT really had any merit, why is no one advocating for this in a zero tax environment? If deficits etc don’t matter and we can print our way out of everything, why are we paying taxes at all?

Clearly it is a load of nonsense and today’s spending is undoubtedly tomorrow’s taxes and inflation.

#3 Ponzius Pilatus on 01.15.20 at 4:08 pm

Now,
If we could just get rid of the Royal squatters.

#4 Camille on 01.15.20 at 4:12 pm

Garth, you write today “If interest rates rise a little (will happen)”…
You have written this many times, i.e. rising rates. I do not agree nor disagree. Bond experts say something similar, generally related to increasing debt, blow-off, or mean reversion. Vanguard recently says Nah! This would not be good for stocks, unless it was due to a growing economy.
I think this is what you allude to? Perhaps someday you or your colleagues could lay out your scenario for increasing rates. I would read with interest.

#5 Asterix1 on 01.15.20 at 4:13 pm

Good old Carolyn Ireland from ReMax…..I mean a “journalist” from G&M. I still think she has one of he best jobs in the World! She gets paid by a newspaper to be a complete tool for the RE industry.

Her most recent “article: is titled:
“Toronto home buyer strategy: Move quick, bid strong”
https://headtopics.com/ca/toronto-home-buyer-strategy-move-quick-bid-strong-10710445

Every day, she probably gets emails from the marketing departments from all the RE boards. Full of pre-written articles, fabricated stats and quotes to used.

She then gets to print them, editors nod their heads, fully knowing that they have lost all semblance of professionalism and respectability. Yet, the show goes on, $$$ flows into MSM, and the gullible public reads on, clueless to the actual reality on the ground.

Thank you Caroyln for another great piece, with only quotes from the RE cartel.

What a joke!

#6 Ponzius Pilatus on 01.15.20 at 4:18 pm

Any chance you could advise on Annuities? I am approaching mid-60’s and was thinking of dumping approx. $300K into one, but not sure about the tax implications of going this route.

Never buy an annuity in a low-rate environment. Like now. – Garth
————
My wife thinks about getting an annuity.
I’ll show her this.
Thanks

#7 Shawn Allen on 01.15.20 at 4:22 pm

Interesting. The information came from her daughter. Were you speaking with her? Or just bloviating? – Garth

*********************************
Second hand info…

But it is not about Ruth. It’s about bashing reverse mortgages and pretending they ALL involve lump sums.

It does not make sense to take a $500k lump sum to fund monthly or annual expenses that exceed income.

Your big words aside, you know you were exaggerating (and not pointing out the monthly draw-down option) and the blog dogs followed along.

Your advice on reverse mortgages could be more like your portfolios: Balanced.

Sounds like you’re in the market for one. BTW, almost all mortgagees take the lump sum, I am told. – Garth

#8 crowdedelevatorfartz on 01.15.20 at 4:27 pm

“Over-eating, fatigue, criminal behaviour and sexual frustration – it’s all the fault of [email protected] who made us borrow….”

+++++

I had trouble not spraying my drink…

#9 Sold Out on 01.15.20 at 4:30 pm

#2 gmac2412 on 01.15.20 at 3:49 pm
Longtime listener, first time caller…..

If MMT really had any merit, why is no one advocating for this in a zero tax environment? If deficits etc don’t matter and we can print our way out of everything, why are we paying taxes at all?

xxxxxxxxxxxxxxxxxxxxxxxxxxxxx

Paying taxes is still necessary under MMT. Stimulus dollars move through the economy, starting out in the hands of lower income recipients, who spend it all on living expenses. Providers of goods and services benefit from their increased spending powers.

Taxes paid by higher income earners remove excess dollars from the economy, preventing inflation, and then those excess dollars are effectively destroyed. Theoretically.

Not really any different than what we’re doing right now, except that instead of destroying excess dollars, we pretend that they’re paying down federal debt.

#10 James on 01.15.20 at 4:32 pm

Given the reasonable projection that the bill for this nonsense may come due some where down the the road. How should we advise the youth of today to damage proof their lives?

#11 Where's My Money Going Greedeaus and Fordeau? To The Moon Alice (Triads) on 01.15.20 at 4:42 pm

DELETED

#12 Niagara Region on 01.15.20 at 4:42 pm

Regarding the evicted mothers, according to Brown University’s “Cost of War Project,” the War on Terror from 2001-2018 cost the US government $4.9 trillion USD. When the cost of veteran healthcare is factored in, the cost rises to around $6 trillion USD. If the US government had spent that money on services for its citizens, there would be universal healthcare, no student-loan debt crisis, no crisis in university funding, lots of housing available for low-income earners, and much, much more.

Source:
https://www.npr.org/2018/11/18/669007529/brown-university-releases-cost-of-war-project

#13 MF on 01.15.20 at 4:48 pm

So dropping interest rates too low for too long wasn’t a good idea after all?

MF

#14 Shawn Allen on 01.15.20 at 4:51 pm

Sounds like you’re in the market for one. BTW, almost all mortgagees take the lump sum, I am told. – Garth

************************************
It would be interesting to know the percent that take the lump-sum. I don’t doubt that you are right.

Hopefully there are at least a few cases where a reverse mortgage was used in a reasonable fashion for monthly expenses with the loan building up much slower.

Tom Selleck would not steer us wrong would he?

#15 Parksville Prankster on 01.15.20 at 4:55 pm

According to the Financial Post, the current government has the highest level of federal spending in Canadian history. Hmmm, this can’t be good…

https://business.financialpost.com/opinion/trudeau-government-has-pushed-federal-spending-to-the-highest-level-in-canadian-history

#16 FreeBird on 01.15.20 at 4:56 pm

#3 Agreed and perhaps in general.
———————-
Only because we’ve had friends look into them (not sure the outcome) here’s more info the second being US based if your living there…

https://retirehappy.ca/the-pros-and-cons-of-a-reverse-mortgage/

https://www.consumerreports.org/cro/news/2015/07/don-t-be-suckered-into-buying-a-reverse-mortgage/index.htm

#17 Sail away on 01.15.20 at 5:07 pm

#10 James on 01.15.20 at 4:32 pm

Given the reasonable projection that the bill for this nonsense may come due some where down the the road. How should we advise the youth of today to damage proof their lives?

————————————–

Advise them to never complain, never blame others, gain marketable skills for self-reliance, always be ready to act, and of course… be skeptical of anyone offering advice.

#18 Sam on 01.15.20 at 5:08 pm

debt? ah come on, ship has sailed. The japanization of N America is well under way.

the savers will get crushed

#19 Sail away on 01.15.20 at 5:14 pm

#12 Niagara Region on 01.15.20 at 4:42 pm

…the War on Terror from 2001-2018 cost the US government… around $6 trillion USD. If the US government had spent that money on services for its citizens, there would be universal healthcare, no student-loan debt crisis, no crisis in university funding, lots of housing available for low-income earners, and much, much more.

—————————–

But then we’d all be living in terror. That was the whole reason for the war.

Also, Canada didn’t spend anywhere near that amount on a percentage basis. Where’s all our stuff?

Canada didn’t spend anywhere near that amount on a percentage basis for the war on terror.

#20 crowdedelevatorfartz on 01.15.20 at 5:24 pm

@#3 Ponzie Pilot
“If we could just get rid of the Royal squatters.”
++++

You couldnt buy 1% of the world wide free publicity they have created for BC …

Now if only we could ban Austrian Grumplestiltskins

#21 The Wet One on 01.15.20 at 5:29 pm

Errr…

In case you didn’t notice Garth, banks have never been in the business of serving their clients best interest. They are in the business of making the most money for their shareholders (like me).

They aren’t like lawyers who have a fiduciary duty to their customers and who lose their banking license for fleecing customers. That’s not how it works.

Just an FYI.

And contractually and legally, banks are treated quite harshly by the law (reflecting the fact that most people sheep at the mercy of wolves). But if you put your sheep like neck in the wolf’s mouth, even the courts won’t save you from your own folly.

It’s called the banking business. Most people are terrible at it and don’t know that the bank is their enemy. Most people can’t be bother to learn. Their loss.

So it goes.

Meanwhile, my dividends payment from one of the Big Six are up quite a bit over the last few years.

Great times!

:-)

#22 Jager on 01.15.20 at 5:35 pm

The Requisite Evolution of Capitalism

Gentle Reader,
See below for an extraordinary interview with Ray Dalio. A gripping discussion of the West’s most pressing issues, their causes and how they may be addressed.

The alarm bells are ringing. The West is undoubtedly at a crossroads.

Is it not time (for the sake of our youth) to set aside our differences i.e. partisan politics, hidden agendas, self interests, acrimony and intellectual dishonesty* to sit at the same table?

{ * Intellectual dishonesty:
A failure to apply standards of rational evaluation that one is aware of, usually in a self-serving fashion. If one judges others more critically than oneself, that is intellectually dishonest. If one deflects criticism of a friend or ally simply because they are a friend or ally, that is intellectually dishonest. etc.}

Do enough people care? Will we exercise sufficient courage, honesty, humility and wisdom to facilitate a better tomorrow or are we fated (fait accompli) for destruction and poverty? (No…Socialism is not the answer. It wasn’t before. It isn’t now)

-Valuetainment-
Billionaire Ray Dalio Predicts The Next Big Market Crash
https://youtu.be/Ca9uu36w_Vo

Ray Dalio: Why and How Capitalism Needs to be Reformed
http://bit.ly/372COsE

(Sectarian media and aspiring journalists take note at 1:03:00 of the video)

#23 Ponzius Pilatus on 01.15.20 at 5:38 pm

#20 crowdedelevatorfartz on 01.15.20 at 5:24 pm
@#3 Ponzie Pilot
“If we could just get rid of the Royal squatters.”
++++

You couldnt buy 1% of the world wide free publicity they have created for BC …

———-
You sound like the hypocrite Horgan.
I thought you hated his guts.

#24 Rargary on 01.15.20 at 5:45 pm

Why are the banks so chicken sh*t to raise rates? Read article today BofC could be lowerimg rates this year. Doesn’t that fuel more borrowing? Vicious cycle.

#25 Doug t on 01.15.20 at 6:04 pm

I think people are starting to realize that “time” is short on this rock – average person has what 80yrs to live? It’s short and goes by in a flash. Young people are smart – they have it figured out , why bust your ass at university and get massive debt and then work at Starbucks. Get the Guberment to print the dough and suck it up – then live your life the way YOU want to live it , not the way all us old sh#ts have done for generations – I’m with them – just start printing, live free and screw everything else

#26 TurnerNation on 01.15.20 at 6:05 pm

Kanada the Banker’s Pair-a-dice.
Business is GOOD.

Genworthless gave $2.32 special dividend in DEC and now again:

Genworth MI Canada Inc. has declared a special dividend of $2.32 per common share, for an aggregate amount of approximately $200-million. This special dividend is to be paid on Feb. 11, 2020, to shareholders of record at the close of business on Jan. 28, 2020.

#27 Kona on 01.15.20 at 6:18 pm

Having worked at one of those loan places with 35.95% interest rates, I also quickly learned that the majority of people don’t care. I would always explain how the loans were open loans and how the borrowers could save money. Even showed them how much they would save paying an extra measly $20, $40, or $50 bucks. Would write it down for them and ask them to stick it on their fridge to remind them to save money and lower their interest costs and hence the interest rate. Yeah, Yeah, they all said. Only one ever did.

#28 Brian Ripley on 01.15.20 at 6:20 pm

My 10yr Bond rate chart:
http://www.chpc.biz/real-10yr-rate.html
…has the “Real” rate (ie: nominal rate less CPI) in negative territory for 15 out of the last 19 prints (and 9 out of the last 9 prints). Also on the chart is the TSX Energy plot which has deflated since the July 2008 crude oil spike and the crash into March 2009.

My just published Real Price of TSX Real Estate and Gold Indices chart:
http://www.chpc.biz/real-price-of-gold–re.html
… also shows the Bank of Canada Commodities Index which also has been deflating even longer since 2002.

ZIRP and NIRP may have sparked employment in the hot housing markets but employment rates appear to be rolling over since May of 2019 http://www.chpc.biz/earnings-employment.html#Rate

If so, the FIRE sector (finance, insurance, and real estate) could be shedding jobs.

“Broadly speaking, the global manufacturing sector is currently in a downturn… said Royce Mendes, senior economist at CIBC, DEC 6, 2019”

#29 akashic record on 01.15.20 at 6:23 pm

the corporate owners who will reno, sell and donate the proceeds to charity

Bullied into profit shaming

#30 Got out in time on 01.15.20 at 6:24 pm

Just a question for anyone on the blog….
Does anyone know if the real estate agent is able to refuse to write the offer on the listing if the offer is too low?
Hypothetically if anyone is to create/organize movement (using social media) where huge number of people were to get real estate agents to write offers on the current listings and that would represent some economical sense
(average house for 3-5 average local salaries) what effect if any would this have? If the owner has the right to price home at any price that they want does prospective buyer has the right to make an offer that they believe is correct?

#31 crowdedelevatorfartz on 01.15.20 at 6:44 pm

@#23 Ponzie Preamble
“You sound like the hypocrite Horgan.
I thought you hated his guts.”
++++++

Errr no.
Merely stating the obvious
The publicity that BC and Canada has scooped from the Duke and Duchess moving to our part of the world is worth 10 times the cost of guarding them.

https://fullfact.org/economy/royal-family-what-are-costs-and-benefits/

Tourists visiting England to see one of the Royal Family estates is worth hundreds of millions of dollars per year.

Not to mention the fact that if an uber famous couple like that wants to live here……..who else might consider it?

But an intelligent person such as yourself already knew that .
You were just testing me right Ponz….

#32 Randy on 01.15.20 at 6:59 pm

Annuities are a bad investment ????? I view my property taxes as a Government Annuity for a whole bunch of services that I never asked for and will never use…..if I don’t pay the annuity monies, they have zero downside…a lien to make me pay. Best financial product ever.

#33 45north on 01.15.20 at 7:04 pm

Is housing a human right? Not in California, obviously. You can’t squat and stay. But in Canada, thanks to the current government, it is now a human right. At the same time, Canadians have no constitutional provision to own property.

Adam Vaughan: Vaughan’s ministry, “must develop and maintain a national housing strategy to further the housing policy, taking into account key principles of a human rights-based approach to housing.”

but what does that mean with people mortgaged to the gunnels? I think it means that mortgages don’t matter. If you’re in a house and you don’t pay your mortgage then you stay in your house. This is not good news for the banks. Actually it’s not good for the nation as a whole because it means that debt doesn’t matter. Right now, debt has been piled on debt. The Liberals have threatened to water down the stress test but that just means more debt. This is chaos. On the one hand, you promise to build society based on debt but on the other hand you are saying that debt doesn’t matter.

#34 DFO on 01.15.20 at 7:06 pm

Housing should be a basic right, it saves enormous amounts in taxes paid for support and emergency services.

If you think it costs nothing to have poor, unhoused people, please read this article:

https://www.thestar.com/calgary/2019/12/22/medicine-hat-said-it-eliminated-homelessness-in-2015-heres-how-the-city-is-working-to-keep-it-that-way.html

“It’s costing you in emergency room visits or interactions with first responders, police, paramedics … It costs $80,000 or maybe $100,000 to keep somebody on the street,” Clugston says. “Versus in Medicine Hat you can house them for maybe $20,000 or $30,000. There’s a cost savings to the taxpayer.”

Anyone who thinks socialism is some kind of tax sinkhole has been thoroughly misled, and this misleading was certainly started by Reagan and the welfare queen bs story he whipped up to justify social program cuts. This has led to decades of poor-shaming.

We need as many taxpayers as possible to reduce the tax burden and to increase GDP, no one on the streets is paying taxes.

#35 Grunt on 01.15.20 at 7:09 pm

Extra $100 billion deficit? Most Canadians are not tuned. They’re far more concerned burning the extra security costs for a pair of unenlightened royals. Canada safely picked by the palace knowing full well the kinder won’t settle in the worst climate in the empire. How many like them would?

Peter Mackay is no more handsome than Doug Ford. He just looks different. Mr Socks doesn’t have to worry in that department.

#36 Treasure Island CEO - 94,095,344.88 Offshore on 01.15.20 at 7:12 pm

Toronto Star January 15, 2020 –
RCMP shuttering Ontario financial crimes unit. Opening up dirty money gateway as BC is trying to close it.

Global News January 15, 2020 –
B.C. disbanded RCMP unit after report warned possible crime figure bought stake in casino. “It is stunning to me that any government official would be provided this information, and the Solicitor General’s response was, rather than to grant police the resources they were seeking, to do the reverse, and disband this unit,” she said. “Children were kidnapped and murders took place in the pursuit of money and the provincial government knew it.” Coleman, now a member of the B.C. Liberal opposition, was repeatedly asked to respond in an interview to the allegations in this story. Instead, Coleman provided a statement.

There were at least seven major loan-sharking rings operating around Metro Vancouver casinos — with 47 known loan sharks — causing misery and perpetrating horrific violence at both underground and government casinos.

In one 12-block strip of Vancouver’s Kingsway Avenue there were at least nine underground casinos, the report said, and in one case, a 5-year-old was found wandering outside an underground casino while a parent gambled inside.

The convicted killers, Chu Ming Feng and his accomplice Guo Wei Liang, wrapped a black leather belt around her neck and strangled her.

In another case, a woman borrowed $500,000 to gamble at River Rock Casino.

“She was able to pay $200,000 back by using her house as collateral to borrow money from the bank, but she still owed $300,000,” the report says.

These crimes are beyond imaginable and yet crickets from the Federal Gov.

Toronto housing prices are going into high gear. Time stamp this post.

#37 Piano_Man87 on 01.15.20 at 7:13 pm

Debt to GDP ratio:

USA – 104%
UK – 86%
France – 98%
Germany – 62%
Italy – 134%
Japan – 236%

Canada – 34%

I’m not saying debt isn’t an issue, but it seems ours really isn’t doing that bad as compared to other G7 nations. That said, if we were to go into federal debt for anything right now, it should be to fight climate change, rather than just to make ends meet.

#38 Dave on 01.15.20 at 7:13 pm

Too bad, housing is a right in Canada. This interferes with the greedy rich who want to profit on it. How dare they make it a right eh Garth?

#39 Penny Henny on 01.15.20 at 7:14 pm

#1 Shawn Allen on 01.15.20 at 3:42 pm
Reverse mortgages – stop exaggerating

I just checked and you can take the money out monthly rather than lump sum. So the woman, Ruth, who needed it for expenses would do that. She might get approval for some large amount but then could take it out monthly.

So, in her scenario the horrors of a $500k mortgage from the start and growing is just a big exaggeration.

Didn’t I tell you all a million times to stop exaggerating!
………………

no exaggeration!!
Combined it’s well over a million!

but where would the outrage come from?
the hate?
the misguided comments?

Who knows, I’m just here for the doggies

#40 Penny Henny on 01.15.20 at 7:17 pm

This is a question for WUL.

Dear Sir,
Does Tkachuk have a Human Rights Case against Kassiam for bullying in the workplace?

#41 Penny Henny on 01.15.20 at 7:24 pm

Geez what happened 5 years ago today?
From the pic we have opposing bellies and only 188 comments.
No doubt 12 are from Smoking (dead?) Man.
Are you one of the 188?

https://www.greaterfool.ca/2015/01/16/the-other-half/

#42 Canada on 01.15.20 at 7:26 pm

Sam Cooper has obtained the full & unredacted 2009 report of the law enforcement unit (IIGET) that warned of corruption & organized crime infiltration of BC casinos.

We now know that R Coleman was informed that an organized crime figure had been allowed to buy into a BC casino and that organized crime rings with links to Asia were extorting British Columbians

Detailed in the report:

That 2 young children had been kidnapped by org crime loan sharks

That women from Malaysia, forced to work off gambling debts, were working as prostitutes in a Vancouver brothel.

Which suggests human trafficking

We already knew a young woman employee of a loan shark working at the River Rock Casino had been abducted & murdered.

Her body buried at Jericho Beach for an entire summer, until it was found.

10 years for this information to come out. I can’t wait for the information from the CC heyday.

Prince Harry and Megan are moving to Victoria to oversee as Canadian governor and clean up this mess that is a commonwealth security issue as directed by Queen Elizabeth who concluded investigation into this in 2017 and pulled power through the lieutenant governor of BC to have Christy Clark removed from office.

#43 Penny Henny on 01.15.20 at 7:28 pm

Hmmmm,
This is a question for the guys only.
When I ask my wife a question it’s as if she doesn’t hear me, but when the tv is on (even at whisper quiet) she hears that quite well.
Does anyone else have that problem

#44 Sail away on 01.15.20 at 7:28 pm

#26 TurnerNation on 01.15.20 at 6:05 pm

Genworthless gave $2.32 special dividend in DEC and now again:
Genworth MI Canada Inc. has declared a special dividend of $2.32 per common share

———————————

Genworth Canada has been a fantastic stock. Up about 24% in 2019 plus 3.70% dividend plus special dividend…

Also, approx. 13% annually for last 5 years, including the scrumptious dividend. What’s not to like? Keep insuring those mortgages, baby!

#45 Where's My Money Going Greedeaus and Fordeau? To The Moon Alice (Triads) on 01.15.20 at 7:38 pm

Re: #11 Where’s My Money Going Greedeaus and Fordeau? To The Moon Alice (Triads) on 01.15.20 at 4:42 pm
DELETED
++++++++++
The header says it all anyway…..
Good luck Ontario!!!!!!! Guido Scampbell will take care of you….

#46 Nonplused on 01.15.20 at 7:42 pm

Is “Animal Planet” what you are calling the comments section now? It is perhaps fitting.

—————-

The “Moms 4 housing” resolution was a little over the top, but then these days the cops never know what to expect in the land of Antifa and snowflakes with bats and bike locks. The left has become deranged and violent. However justice was served, although a little late. You can’t just steal a house because you found it unattended. If that’s the logic people could come home from work to find a new family moved in to their home and refusing to leave. After all, they have a “right” to housing. Where that leaves you and your rights is undetermined.

The “below average” crowd (remember that’s 50% of the population) is keying on the fact that in this particular case the house was owned by a corporation (Evil I say! Evil!). Well, who/what owns corporations? Eventually it’s shareholders, which are people. So stealing from a corporation is no different than stealing from a person other than you don’t know who it is and it is more distributed.

What I find somewhat disturbing about the situation as it resolved, other than the fact the cops were so afraid to go into that neighborhood that they thought they better bring a tank, is that they are talking about charging the company that owns the house to cover expenses. Shouldn’t they be charging the criminal squatters? They are the ones who caused the problem. We pay taxes and expect police law enforcement as part of the deal. We don’t expect calling the police on a criminal to result in a bill. But I am all in favor of charging the criminals. Why shouldn’t a burglar be charged the cost that was expended to apprehend him? Seems fair to me. Unfortunately there probably isn’t much of a pool of money there. But take what they have before you lock ’em up.

Anyway I am glad this precedent has been set. Can you imagine coming home from vacation and finding a bunch of unemployed millennials with bats and knives living in your house and refusing to leave? And it’s happened. Not that I know of in Canada, but there is A Current Affair story out of Australia where a woman sub-letted a room in her house and got locked out by squatters who never paid a dime. When they were finally forced out, they thrashed the place and stole all the furniture.

My view of humanity has not improved.

——————

The concept of “rights” is being completely muddled by the 50%. For example, the right to “housing”. The thing is, houses don’t grow on trees. Well, er, they are made out of trees but the value-add that comes from labor is huge compared to the cost of the trees. The cost of a house mostly represents the labor involved in manufacturing the input materials and actually standing it up. So does that mean your “right” to housing also means you have a “right” to make all those carpenters and plumbers and electrician work for free? The companies providing the lumber and the wiring also have to provide it for free? And all you have to do is complain about your “rights”? Nice try 50%, it won’t work because we won’t work for free. You are going to have to go out and make some money if you want to exerciser your “right” to housing.

————-

The concept of “rights” has been completely muddled by the trend towards socialism by the 50%. “Life, liberty, and the pursuit of happiness” does not impose on others, it only demands they cannot impose on you. But instead now we have a “right” to health care. Ya, I suppose if you can reach a deal with your doctor to pay for said health care requirements and maybe he cuts you a deal because he knows you don’t have much money, all is fair. Auto mechanics do that. Dentists do that. Tow truck drivers do that. Plumbers do that. Free association. You know who doesn’t? Doctors. They don’t have to because tax payers are compelled to pay for it even when they are not in need of medical attention themselves. Because it is a “right”. But what has happened here is you have lost your “right” to opt out or pay your own way, so that other people can as a “right” consume what you earned.

So it is interesting how thought has changed. What used to be considered “rights” was that the government could not interfere with the free jurisprudence of the people. Somehow, it has transmorgified into a concept where the bottom 50% has a “right” to enslave the top 50% or the knives will come out.

—————–

Ya, taxes when applied to common projects roads probably are ok. But when applied to housing, education, health care, and especially welfare, they are slavery for the working class. It only makes the most minimal sense if the government manages to do what no government has ever done, which is organize it better than “the invisible hand” would have, and reduces overall costs. That never happens. Never.

——————

Right kitty-corner to my property is an old single room school house that is preserved as a historical site. Not it’s original location. When they moved it in and regraded the site they screwed up the drainage and other properties, namely my neighbor, who started getting flooding. They paid for none of that but they have corrected the drainage. But what pisses me off is that the historical society’s contractors keep trimming on my land, and wrecking my irrigation system. They can’t help but notice, but they don’t fix it. They are trespassing when they do that. It’s my land, my trees, and my pipes. I’d be perfectly happy to have them trim my grass, but dudes, don’t wreck the irrigation and if you do fix it before I even know it is broken. It’s not your land, and it ain’t your pipes. Stay off! I think I am going to get it surveyed and put up a fence. I know about where the property line is but the historical society removed to marker. The trees and irrigation are on my land!

—————–

I’ll try and make it as clear as I can for the 50%. If your “right” involves forcing someone else to work for free, or stealing their property, or trespassing, it is not a “right”. You cannot use your “rights” to infringe on the rights of others. It just does not work that way, unless you are a thief or a pirate.

#47 Bytor the Snow Dog on 01.15.20 at 7:43 pm

Wow! Moving pictures! Garth’s blog technology finally enters the 90s!

#48 Sail Away on 01.15.20 at 8:35 pm

#46 Nonplused on 01.15.20 at 7:42 pm

The “below average” crowd is keying on the fact that in this particular case the house was owned by a corporation (Evil I say! Evil!). Well, who/what owns corporations?

——————————–

Demons. Demons own corporations. It’s ok to steal from demons.

Sometime in the summer, junkies in Nanaimo occupied an abandoned school and trashed it to the tune of over $100k. Can’t remember how they were evicted- maybe lured out with spare change?

#49 WUL on 01.15.20 at 8:36 pm

#40 Penny Henny on 01.15.20 at 7:17 pm
This is a question for WUL.
Dear Sir,
Does Tkachuk have a Human Rights Case against Kassiam for bullying in the workplace?

punch…punch…punch

Thank you for your inquiry.

Most provincial human rights codes contain an exemption along the following lines:

“… rag dolling another person in the workplace who is a rat and turtles is not bullying and is to be fostered and encouraged….”

#50 WUL on 01.15.20 at 8:39 pm

Penny Henny,

Sorry, I missed a word. “rat” should read “cheap rat”.

#51 Yanniel on 01.15.20 at 8:42 pm

#94 IHCTD9 on 01.15.20 at 8:58 am
#56 Yanniel on 01.14.20 at 7:49 pm

What happens if the person borrows big at 55 years old and get to live to 120 somehow? Who gets the short end of the stick? The lender?
______

“In 1965, aged 90 and with no heirs left, Calment signed a life estate contract on her apartment with notary public André-François Raffray, selling the property in exchange for a right of occupancy and a monthly revenue of 2,500 francs (€380) until her death. Raffray died in 1995, by which time Calment had received more than double the apartment’s value from him, and his family had to continue making payments. Calment commented on the situation by saying, “in life, one sometimes makes bad deals.”[9] In 1985, she moved into a nursing home, having lived on her own until age 110.[1] A documentary film about her life, entitled Beyond 120 Years with Jeanne Calment, was released in 1995.[10]”

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

——-

Lovely. Thanks for sharing.

#52 Remembrancer on 01.15.20 at 8:45 pm

#7 Shawn Allen on 01.15.20 at 4:22 pm
Your advice on reverse mortgages could be more like your portfolios: Balanced.
————————————————
Oh stop it – they’re Payday Loans for retired people. The better, saner answer is to downsize and live off proceeds, not be house poor and giving the house away to a vulture at the same time…

#53 Remembrancer on 01.15.20 at 8:48 pm

#47 Bytor the Snow Dog on 01.15.20 at 7:43 pm
Wow! Moving pictures! Garth’s blog technology finally enters the 90s!
—————————————-
Say what you will about Garth’s tech, but its not getting its security a$$ handed to it by a SQL injection or dodgey password hash is it?

#54 Penny Henny on 01.15.20 at 8:48 pm

#49 WUL on 01.15.20 at 8:36 pm
#40 Penny Henny on 01.15.20 at 7:17 pm
This is a question for WUL.
Dear Sir,
Does Tkachuk have a Human Rights Case against Kassiam for bullying in the workplace?

punch…punch…punch

Thank you for your inquiry.

Most provincial human rights codes contain an exemption along the following lines:

“… rag dolling another person in the workplace who is a rat and turtles is not bullying and is to be fostered and encouraged….”
/////////

golf clap. bravo

but since you are on the down and outs couldn’t you make this a class action suit.
nudge, nudge, wink, wink boost the the old TFSA?

#55 Penny Henny on 01.15.20 at 8:53 pm

DELETED

#56 The gig is up on 01.15.20 at 8:56 pm

FELIX, the gig is up.

Compelling evidence that your cat may eat your corpse:

https://www.washingtonpost.com/science/2020/01/15/heres-compelling-evidence-that-your-cat-might-eat-your-corpse/

#57 WUL on 01.15.20 at 9:01 pm

#43 Penny Henny on 01.15.20 at 7:28 pm
Hmmmm,
This is a question for the guys only.
When I ask my wife a question it’s as if she doesn’t hear me, but when the tv is on (even at whisper quiet) she hears that quite well.
Does anyone else have that problem

easy…easy…easy…

Thank you for your inquiry. While it is not a legal question, I’ll wade in because, frankly, I am also a pretty fair country psychologist.

The trait she exhibits is one common in both men and women.

The pre-eminent American psychologist / song writer John Prine labelled the diagnosis as “The Other Side of Town”.

https://www.bing.com/videos/search?q=john+prine+other+side+of+town+youtube&&view=detail&mid=877BAE2F6DB711140A0B877BAE2F6DB711140A0B&&FORM=VRDGAR&ru=%2Fvideos%2Fsearch%3Fq%3Djohn%2Bprine%2Bother%2Bside%2Bof%2Btown%2Byoutube%26qpvt%3Djohn%2Bprine%2Bother%2Bside%2Bof%2Btown%2Byoutube%26FORM%3DVDRE

WUL

#58 Shawn Allen on 01.15.20 at 9:13 pm

An Actual Reverse Mortgage?

Well anyhow, reverse mortgages are improperly named. The capital flows in the same direction as regular mortgages: from the bank to the borrower. The interest and principal payments flow in the same direction as regular mortgages: from the borrower to the bank. The big difference is the delayed repayment. (And a higher interest rate).

Closer to an actual reverse mortgage is a GIC or any bank deposit. Even better, bank bonds or preferred shares. Or even common shares. There the money flows in the reverse direction from regulate mortgages. And in some cases there is guaranteed payment (so security like a mortgage).

I like this kind of true reverse mortgage a lot better.

#59 PHMIKE on 01.15.20 at 9:15 pm

Hi garth , what if the loan was not your spouse but a friend would the rules differ? Also what about monetary gifts the lines seem kinda blurred… what if i was gifted a sum of money from a friend or family when does the government tend to get greedy and want there share of your gift?

Give as much money away to friends as you want. Great strategy. – Garth

#60 Where's My Money Going Greedeaus and Fordeau? To The Moon Alice (Triads) on 01.15.20 at 9:25 pm

Re: #42 Canada on 01.15.20 at 7:26 pm
Prince Harry and Megan are moving to Victoria to oversee as Canadian governor and clean up this mess that is a commonwealth security issue as directed by Queen Elizabeth who concluded investigation into this in 2017 and pulled power through the lieutenant governor of BC to have Christy Clark removed from office.
+++++++++++++++++
Yeah right….If the Queen made this decision in 2017, why is then 2009 BC Premier Gordon Campbell (Guido) in Ontario Gov’t behind the scenes and why is the RCMP shutting down Ontario’s anti-money laundering Division, just like Rich Coleman in BC in 2009?
https://globalnews.ca/news/6403415/organized-crime-bc-casinos-rcmp-report/?utm_source=Homegnca-toronto&utm_medium=MostPopular&utm_campaign=2014
Reporter Sam Cooper should get Canada’s highest honour for bringing this to the lowly plebs in Canada…..
What is our supposed compromised RCMP going to do?
And I do think they have a lot to answer for also.

#61 Ustabe on 01.15.20 at 9:25 pm

So…always looking for a deal or a project, anything to make a bit of coin.

How about a smart phone with a vape built in?

I’ll need some investors, who is in?

#62 Where's My Money Going Greedeaus and Fordeau? To The Moon Alice (Triads) on 01.15.20 at 9:55 pm

More fun and games for Ontario:
https://globalnews.ca/news/2981177/b-c-lottery-corp-sidesteps-mandatory-review-on-some-web-casino-games/

#63 AGuyInVancouver on 01.15.20 at 10:28 pm

“All it will take is a few percentage points and the situation could deteriorate quite quickly,”
_ _ _
And when is that ever going to happen? We saw central banks panic at minor housing corrections as they ever so slowly raised rates in one of the hottest economies of our times. They’ll keep fudging inflation figures and suppressing interest rates. There’s no higher rates on the horizon. We are all Japan now.

#64 Ponzius Pilatus on 01.15.20 at 11:14 pm

#57 WUL on 01.15.20 at 9:01 pm
#43 Penny Henny on 01.15.20 at 7:28 pm
Hmmmm,
This is a question for the guys only.
When I ask my wife a question it’s as if she doesn’t hear me, but when the tv is on (even at whisper quiet) she hears that quite well.
Does anyone else have that problem

easy…easy…easy…

Thank you for your inquiry. While it is not a legal question, I’ll wade in because, frankly, I am also a pretty fair country psychologist.

The trait she exhibits is one common in both men and women.

The pre-eminent American psychologist / song writer John Prine labelled the diagnosis as “The Other Side of Town”.
———-
John Prine,
This guy is a genius musician, exposing the ugly
American underbelly.

#65 Paul on 01.16.20 at 12:04 am

Shawn Allen doesn’t get anywhere near the appreciation he deserves for his posts around here. So, thank you Shawn, on behalf of me.

#66 JPN on 01.16.20 at 12:40 am

# 25 Doug t, and what happens when you have to move out of the basement ? Live “where again” Really ?

#67 Penny Henny on 01.16.20 at 1:05 am

#57 WUL on 01.15.20 at 9:01 pm
#43 Penny Henny on 01.15.20 at 7:28 pm
Hmmmm,
This is a question for the guys only.
When I ask my wife a question it’s as if she doesn’t hear me, but when the tv is on (even at whisper quiet) she hears that quite well.
Does anyone else have that problem

easy…easy…easy…

Thank you for your inquiry. While it is not a legal question, I’ll wade in because, frankly, I am also a pretty fair country psychologist.

The trait she exhibits is one common in both men and women.

The pre-eminent American psychologist / song writer John Prine labelled the diagnosis as “The Other Side of Town”.

https://www.bing.com/videos/search?q=john+prine+other+side+of+town+youtube&&view=detail&mid=877BAE2F6DB711140A0B877BAE2F6DB711140A0B&&FORM=VRDGAR&ru=%2Fvideos%2Fsearch%3Fq%3Djohn%2Bprine%2Bother%2Bside%2Bof%2Btown%2Byoutube%26qpvt%3Djohn%2Bprine%2Bother%2Bside%2Bof%2Btown%2Byoutube%26FORM%3DVDRE

WUL
////////////////

Sorry WUL I don’t do videos.
It may be because one of somebody’s video’s (maybe SM) had the herp or something. And then my computer got sick.

#68 the Jaguar on 01.16.20 at 1:09 am

Peter MacKay has thrown his hat in the ring for the Conservative Party Leadership. Garth will be happy about this is my guess……..
He has the political credentials for sure and his wife is more photogenic than Sophie G who sure has disappeared off the radar screen. Wonder how he will be received in Hogtown which is the critical battlefield to be won….hmmm.

#69 Miserable Boomer on 01.16.20 at 1:10 am

OK , it’s spreading. The SARS virus out of Wuhan China has now infected persons in Thailand and Japan. Many deaths in China. The Thai case was an older woman, the Japanese was 30 years old. TV today warns anyone who’s been to China to get tested.

Canada’s last SARS outbreak was criminally bungled, many dead unnecessarily. Bangkok now has temperature scans at all entry points. Why can’t Canada ?

#70 Nonplused on 01.16.20 at 1:17 am

Not really sure the wold is ending after 400 years of growth, but here is a song:

https://www.youtube.com/watch?v=5d7EbtLb8ok

#71 the Jaguar on 01.16.20 at 1:23 am

I shouldn’t post twice, but I get a little giddy when I stay up late at night.
Anyone else following the glass skyscraper caper with the Mayor of New York City ( De Blasio) ? Toronto and perhaps Vancouver (perhaps to a lesser extent given the milder climate..well maybe not today) might want to pay attention. Big glass condo towers just may become environmental pariahs in the next few years. Maybe not a good investment. Here is a little excerpt of the issue:
“De Blasio’s decision stems from the known energy inefficiency of all-glass facades, which have been compared to giant “greenhouses” and therefore require gargantuan amounts of air-conditioning to keep cool. With the International Energy Agency estimating that 40% of global CO2 emissions come from buildings and that air conditioning constitutes 14% of all energy use, reducing these numbers could have indelible effects.De
Blasio’s bill would impose more stringent requirements on glass use to ensure energy efficiency and low emissions.”

Looks like timber might be coming back into fashion. Whew! Thank goodness we have trees in Canada.

#72 Oh Canada U weep on 01.16.20 at 2:15 am

Trudeau announced today that Canada not Trump or Iran is responsible for the downing of a Ukrainian airliner over Iran. Trudeau , not Iran will compensate victims families with Canadian tax dollars. There’s a riding somewhere who’ll vote for him because of this. Who needs those new schools, right?

#73 BillyBob on 01.16.20 at 2:38 am

#37 Piano_Man87 on 01.15.20 at 7:13 pm
Debt to GDP ratio:

USA – 104%
UK – 86%
France – 98%
Germany – 62%
Italy – 134%
Japan – 236%

Canada – 34%

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

Those numbers vastly oversimplify things. What about considering the debtors ability to repay, and the ability of the debt-holder to collect…the US is in far better position than we are with vastly larger debt, simply because they have far more gold ‘n guns…

#74 Frederick Salsburg on 01.16.20 at 6:15 am

BANNED

#75 Stan Brooks on 01.16.20 at 7:14 am

#73 BillyBob on 01.16.20 at 2:38 am
#37 Piano_Man87 on 01.15.20 at 7:13 pm
Debt to GDP ratio:

USA – 104%
UK – 86%
France – 98%
Germany – 62%
Italy – 134%
Japan – 236%

Canada – 34%

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

Those numbers vastly oversimplify things. What about considering the debtors ability to repay, and the ability of the debt-holder to collect…the US is in far better position than we are with vastly larger debt, simply because they have far more gold ‘n guns…

These number are a giant lie, we are so good at lying about debt.

Public debt – 90 % of GDP
https://tradingeconomics.com/canada/government-debt-to-gdp

Private debt – 267 % of GDP
https://tradingeconomics.com/canada/private-debt-to-gdp

Total debt: Highest in the whole world/from the so called ‘developed’ countries.

The quoting of the federal debt as ‘the government debt’ (skipping the municipal and provincial debts) is a convenient lie of course. Enforces the ‘we are special and prudent’ feel-good lie.

So is ‘inflation’ and ’employment’ statistics.

And no word on other government ‘guarantees’ like the CMHC ‘insurance’.

#76 Tater on 01.16.20 at 8:06 am

#2 gmac2412 on 01.15.20 at 3:49 pm
Longtime listener, first time caller…..

If MMT really had any merit, why is no one advocating for this in a zero tax environment? If deficits etc don’t matter and we can print our way out of everything, why are we paying taxes at all?

Clearly it is a load of nonsense and today’s spending is undoubtedly tomorrow’s taxes and inflation.
—————————————————————

The point of taxes in MMT is to control inflation. Stephanie Kelton has a book coming out in the summer that will go pretty indepth on the subject. If you are interested in markets, investing or politics, you should probably read it.

#77 crowdedelevatorfartz on 01.16.20 at 8:33 am

@#69 Miserable Boomer
“Bangkok now has temperature scans at all entry points. Why can’t Canada ?”
+++

We have no money.
Spent it all on Pink T-shirts and Rainbow sidewalks.

#78 crowdedelevatorfartz on 01.16.20 at 8:47 am

@#73 BillyBob
“Those numbers vastly oversimplify things. ”
++++

Total agreement.
Canadian GDP Debt = 34% ?
Laughable.
Add in Provincial debt for a far scarier pic.
Canadian + Provincial Debt = 67.5 %

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

#79 n1tro on 01.16.20 at 8:53 am

#12 Niagara Region on 01.15.20 at 4:42 pm
Regarding the evicted mothers, ….
——–
That’s a disingenuous way to describe the women. Eviction implies they were booted out of their homes by legal means after having failed to pay rent.

I think you meant to say “Regarding the burglars who broke into the dwelling with intent to commit larceny….”

#80 Dharma Bum on 01.16.20 at 9:03 am

#21 The Wet One

Meanwhile, my dividends payment from one of the Big Six are up quite a bit over the last few years.
——————————————————————–

If ya can’t beat ’em, JOIN ’em!

#81 Stan Brooks on 01.16.20 at 9:18 am

MMT = government monetizing public debt.

It was a part of life in former socialist countries, it is part of life in many countries today including Japan and US (with central banks ‘buying’ public debt) and almost always ended up historically with the destruction of the currencies.

The opposite is gold standard or monetary board where issuance of currency is controlled/limited by an anchor outside of the ‘central’ banks.

What really is detrimental with this approach is that somebody is arbitrarily changing the value of the very measure with which capital and labour are measured.

Think about one meter becoming 98 centimeters, then 70, 50, 40 etc.

And the funny part is that then you pay some hefty taxes on imaginary ‘gains’. Of course it is all fraud and theft and the savers and retirees are all victims of bad policies. Money is meant as a store of value, saving for tomorrow, deferral of consumption.

What can you do to protect yourself? Avoid the piece of garbage notes and invest in capital gains free investments. Quality bourbon and scotch comes to my mind.

It won’t help with the ‘pensions’ but after all it is just ‘gas money’. You will just walk, that’s all. Suck it up and move on.

Cheers,

#82 n1tro on 01.16.20 at 9:20 am

#34 DFO on 01.15.20 at 7:06 pm

We need as many taxpayers as possible to reduce the tax burden and to increase GDP, no one on the streets is paying taxes.
————–
I guess you are new here. But let’s recap the stat that Garth posted…45% of the people in Canada pay net zero in taxes given all the handouts. Now you want the ones that are paying to pay some more so homeless people have a place to live while paying zero taxes?

$80K for emergency services because these people choose to get high and O.D on drugs versus spending $30K to put them into a free home where they will….get high and O.D on drugs? The cost savings isn’t mutually exclusive and the issue isn’t quite as simple as giving homeless people free housing.

#83 Dharma Bum on 01.16.20 at 9:29 am

#71 the Jaguar

“De Blasio’s bill would impose more stringent requirements on glass use to ensure energy efficiency and low emissions.”

Looks like timber might be coming back into fashion.
——————————————————————–

All municipalities should amend their building codes to necessitate (i.e., legally force) the use of “smart glass” in all high rises!

These shyster condo builders and developers get away with murder. They erect some of the cheapest and shoddiest structures, and leave the unit owners holding the bag.

“Different types of glazing can show a variety of chromic phenomena, that is, based on photochemical effects the glazing changes its light transmission properties in response to an environmental signal such as light (photochromism), temperature (thermochromism), or voltage (electrochromism).
Liquid crystals, when they are in a thermotropic state, can change light transmission properties in response to temperature.”

https://www.idtechex.com/en/research-report/smart-glass-and-windows-2018-2028-electronic-shading-and-semi-transparent-pv/601

#84 Ferdinand Salsburg on 01.16.20 at 9:40 am

BANNED

#85 dosouth on 01.16.20 at 9:46 am

As with your article yesterday and mom. This is an issue where the present can blame the past…

“Like the credit union people (above) said, nothing good comes of binging.”

But that is what the present gens are, bingers with no sense of direction but to blame and bing, rinse and repeat.

Advice, we don’t need no stinking advice>

PS – with your mom post yesterday I am willing to bet on my present income, that one’s (moisters) against the reverse mortgage are expecting to get a motherlode once the parents/boomers are gone. How would they dare not think lf us in our hour of need/greed.

#86 Ronaldo on 01.16.20 at 11:02 am

#83 Dharma Bum on 01.16.20 at 9:29 am

These shyster condo builders and developers get away with murder. They erect some of the cheapest and shoddiest structures, and leave the unit owners holding the bag.
—————————————————————–
This is what happens when you have a socialist government like we had in the early 70s in BC that imposed rent controls. The developers stopped building rental units and started building condos as well as converting existing rentals to condos and selling them off. They passed on all the troubles associated with owning rental units on to the buyers. As a result the tax payers had to pick up the tab as the shortage of rentals required that same government to build tax payer subsidized rental units (BC Housing Corp). Another example of governments interferring in the markets.

#87 Ronaldo on 01.16.20 at 11:08 am

#65 Paul on 01.16.20 at 12:04 am
Shawn Allen doesn’t get anywhere near the appreciation he deserves for his posts around here. So, thank you Shawn, on behalf of me.
—————————————————————
I will second that.

#88 Chris in Edm on 01.16.20 at 12:20 pm

Thank you Garth for addressing my question today! Once again I really appreciate it!

I know very little about MMT, but I’d be very curious to hear from both sides (for and against it) regarding what it would do to our dollar and exports? I’m assuming weaken the dollar, which may actually boost exports?

The RE market around Edmonton seems to be pretty quiet lately. Not much talk about it as it’s not really doing much. It’s down a bit, but not drastically. I see it as a good thing as the economy as a whole around here is brutal. Katz all but stopped bringing in big name concerts and with good reason. No one is going to them or Oilers games. You can get Oilers tickets for 1/3 the season ticket holder cost regularly now. I went to the Leafs game when they were in town and sat in seats that in past years would have sold for $450 (face value $350) for $200. Unbelievable. Things are not good in Alberta. No one has any extra money

Sadly, it felt “warm” driving to work today. Only -29/-35c with the wind instead of the -52 yesterday morning. Stay warm and safe out there folks!

#89 Sail away on 01.16.20 at 12:25 pm

#65 Paul on 01.16.20 at 12:04 am

Shawn Allen doesn’t get anywhere near the appreciation he deserves for his posts around here. So, thank you Shawn, on behalf of me.

——————————-

Shawn’s an engineer and Buffetteer. Hence: grounded, sensible, logical and all-around good guy!

#90 Steven Rowlandson on 01.16.20 at 12:45 pm

“Canadians have no constitutional provision to own property. ”

In all probability it is because much if not all of the country was acquired as part of lease agreements via treaty’s between the natives and the federal government representing the crown. If that is the case paying so much for so little with out any real ownership is a total waste of time and money. When the next major glaciation sets in ,in the near future the natives will be stuck with worthless expanses of ice sheet and no tenants. So by then the joke will be on them.
Canada is a European political and racial construct created on leased territory which has a shelf life dictated by the ice age cycle. A real dinky deal wouldn’t you all say? Don’t fall in love with temporary things you don’t really own.

#91 Sail away on 01.16.20 at 12:57 pm

#80 Dharma Bum on 01.16.20 at 9:03 am
#21 The Wet One

Meanwhile, my dividends payment from one of the Big Six are up quite a bit over the last few years.
——————————————————————–
If ya can’t beat ’em, JOIN ’em!

————————————-

It’s fun to knock off expenses one by one by investing in utilities, oil/gas, commodities, telecom, etc., so the dividends more than cover your outlays in those specific areas.

When dividends cover all ongoing expenses, you’re living for free forever, which is the definition of financial freedom. Capital appreciation gives your fun money.

#92 Sail away on 01.16.20 at 1:02 pm

#83 Dharma Bum on 01.16.20 at 9:29 am

All municipalities should amend their building codes to necessitate (i.e., legally force) the use of “smart glass” in all high rises!

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Hmmm… Dharma Bum suggesting laws to force action…

Would Jack Kerouac approve?

#93 JB on 01.16.20 at 1:32 pm

#16 Stone on 01.14.20 at 4:46 pm

#6 FreeBird on 01.14.20 at 4:19 pm
I have two crazy proposed changes:

First, elections should happen right after taxes are due.

Second, a new electronic form to be filled, signed and submitted with personal tax returns. It could list each item our taxes pay for both by province and federally just like an invoice or even an estimate and easy to search. Certain items, sections or positions could be mandatory and greyed out, ie health care, fire/police, public education, mayor, MP etc broken down into more detail. Others like special ambassadors or services etc would be optional – choose to pay with part of your earned money via taxes or not. This could change what’s approved as tax payer funded that many don’t want/didn’t ask for but for those who do you’d be free to through this form even add more. It may give a clearer picture on level of support for certain projects/positions. There would be a transition period but over time it could give more control and transparency to tax payers. Which is why it’s a fantasy.

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That’s not fantasy. That’s how condo corporations are run. The Investor owners vote down any/all expenses they can to ensure their rentals provide maximum return. That’s why condo buildings get run down so fast as the regular maintenance gets quashed at the condo board meetings. The regular owners who are so often in the minority get to enjoy living in a slum building (yay!) while the Investor owners reap their maximum profits.
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Going back to yesterdays post.
Exactly Stone is correct. This is how 99% of the condos out there now get rundown. The only ones that don’t are the high end units running plus $1M or more these owners do not typically rent. Just go to the outskirts of Toronto in Mississauga or Vaughan and see for yourself. There is a sea of units for rent in every building. These owners need their cash influx from renting to keep up the monthly payments. It all comes down to cost reduction. First to go is the cleaning and carpets, then window washing, concierge, then its regular maintenance. The worst is when an elevator craps out and gets shutdown until the special assessment fee surprises the owners. Elevators and boilers are the one thing that they can not control as they fall under a special group of services. Wait until the glass come off the buildings in the future and gets replace with solid insulated panels. Your ceiling to floor view is gone. Cha-ching for investors is bye-bye.

#94 BillyBob on 01.16.20 at 1:33 pm

#78 crowdedelevatorfartz on 01.16.20 at 8:47 am
@#73 BillyBob
“Those numbers vastly oversimplify things. ”
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Total agreement.
Canadian GDP Debt = 34% ?
Laughable.
Add in Provincial debt for a far scarier pic.
Canadian + Provincial Debt = 67.5 %

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

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Ah don’t even get me started. Best way to “balance” the federal books is just to offload the debt onto the provinces, amiright?

And yet, the Liberal cheerleaders will hold up that great patriot Paul “Steamship” Martin as their patron saint of budgetary responsibility….and vilify Harper for the sin of running up the deficit during the worst worldwide financial crisis since the Depression….*sigh*

Thinking critically is hard.

#95 DFO on 01.16.20 at 1:49 pm

I guess you are new here. But let’s recap the stat that Garth posted…45% of the people in Canada pay net zero in taxes given all the handouts. Now you want the ones that are paying to pay some more so homeless people have a place to live while paying zero taxes?

$80K for emergency services because these people choose to get high and O.D on drugs versus spending $30K to put them into a free home where they will….get high and O.D on drugs? The cost savings isn’t mutually exclusive and the issue isn’t quite as simple as giving homeless people free housing.

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You’re already paying that 80k, genius. And now you’re arguing that instead of trying to make decent citizens of these homeless people, you’d rather keep paying for their emergency services.

Why would anyone choose to pay for their services instead of having the chance of NOT having to pay for their services with the added BONUS of reduced taxes?

This is what happens when Reagan’s poor-shaming koolaid TRICKLES DOWN into limited minds.

#96 Shawn Allen on 01.16.20 at 2:09 pm

It’s Shawn Allen Appreciation Day!

#65 Paul on 01.16.20 at 12:04 am

Shawn Allen doesn’t get anywhere near the appreciation he deserves for his posts around here. So, thank you Shawn, on behalf of me.

#87 Ronaldo on 01.16.20 at 11:08 am

I will second that.

#89 Sail away on 01.16.20 at 12:25 pm

Shawn’s an engineer and Buffetteer. Hence: grounded, sensible, logical and all-around good guy!

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Thanks guys! I appreciate that. I’ll try to continue to earn your respect.

#97 n1tro on 01.16.20 at 2:51 pm

#95 DFO on 01.16.20 at 1:49 pm
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You’re already paying that 80k, genius. And now you’re arguing that instead of trying to make decent citizens of these homeless people, you’d rather keep paying for their emergency services.

Why would anyone choose to pay for their services instead of having the chance of NOT having to pay for their services with the added BONUS of reduced taxes?

This is what happens when Reagan’s poor-shaming koolaid TRICKLES DOWN into limited minds.
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I rather them drop dead and die. $0 afterwards. But let’s pretend your shared misery/robbing the “rich” to pay for the poor is the way to go. What happens when the homeless home winners don’t become decent citizens (I assume you mean paying taxes). Why would they given they just got a free home and a universal basic income (coming soon). Paying taxes is for the greedy 1% right?

The only koolaid being drank is by you and your delusion of a Star Trek society. Why don’t the people who push these agendas lead the way and take in a homeless person themselves? It’s probably because they don’t even own and are waiting for their monthly government handout.

Trickle down, shared misery, it’s all the same. It only works for the people making the policies with their chateaus and trust funds.

#98 Steven Rowlandson on 01.16.20 at 5:29 pm

A better idea would be to open the frontier for settlement by born in Canada homeless people with the price of ownership set at one dollar per acre with all rights included and no selling for 50 years after purchase.
Put them to work and let them build their first home as they see fit using resources from the land and proceeds of their own labor. That way they will have a stake in the country and a better than no chance at being self sufficient. Remember real estate is a place to live and not an investment.