#ShutDownCanada

Virus. Oil sands crisis. Pipeline constipation. Pop-up FN blockades. Tumbling oil prices. Vanishing capital. A timorous federal government. Oy. The news lately has been dire.

Well, for all you people in Alberta, stranded by illegal protests, watching real estate equity fade, seeing energy jobs snuffed by the Forces of Greta, feeling alienated and wondering why people burning tires on railway lines are getting more attention than you, stop being so darn selfish. I mean, sheesh, there are people in Toronto who actually can’t afford a nice, seven-figure house.

Seriously, the divide is growing. Yawning. Covid-19’s impact on the price of crude is just the latest assault, as the black stuff heads south of fifty bucks, and Canadian oil drops through $29 – down 6% on Tuesday. Ouch. As global economic activity is impacted, energy consumption takes a hit, with Calgary and our oil patch along with it.

Now the FN protests have turned a structural problem into an intractable mess. They’re not about just a pipeline anymore. It’s land. Residential schools. Missing aboriginal women and girls. Unceded land. Treaty rights. A thousand years of injustice and colonialism. Plus climate change. Just as crazy Bernie has mobilized America’s young in favour of wealth redistribution, endless tax and more government control, so have indigenous activists in the land of maple co-opted the kids who want climate revolution. Behold the faces on the urban protest lines.

Meanwhile it looks like the virus will end up pushing Canadian mortgage rates into the ditch. As stocks swoon and viral fears mount, money slides into bonds, driving prices higher and yields lower. Look at the return on a five-year Canada bond – down below 1.2% on Tuesday.

Lenders fund fixed-rate mortgages in the bond market, so a drop there of this size pretty much guarantees the cost of a home loan may be dropping again. Says mortgage blogger-brokerguy Rob McLister: “There’s now no doubt that this global outbreak has the potential to take fixed rates down another 1/4 to 1/2 point, if not more.”

You bet. And remember that the mortgage stress test was recently diddled by the finance minister, under direct order from T2. This means the anticipated new rate of 4.89% (a drop from 5.19%) could turn into something even juicier for newbie borrowers, increasing their ability to more easily slip beneath the waves of debt.

Therefore get ready for a five-year fixed at 2.5%. And don’t be surprised if some hopped-up CU comes out with a buck-ninety-nine offering for the prime rutting season. Combined with the current paucity of listings in the GTA (as in Vancouver and Montreal), it means more price pressure. More bidders. More borrowing. More unaffordability.

By the way, nobody seems to be enjoying this. A Zillow/Ipsos poll just found 77% of GTA residents are concerned they can’t afford the real estate they want. Also 70% of sellers/owners fret that they can’t either – which is exactly why listings have taken a kick. When people figure they can’t afford to move, they don’t sell.

The same survey found 84% of people think Toronto’s in a bubble, at risk of correction. Compare that with just 61% in YVR or a dribble of 8% in Cowtown. Like I said, we’re drifting into two economic solitudes. Worse, the very concept of our nation is being shafted and disrespected by the #ShutDownCanada movement, the FN rebels and their dewey-eyed young altruistic, Twitter-fed disciples.

Well, let’s see what the virus news is in a week, a month and a season. So far it appears poised to exacerbate tensions in the land of the beaver. Low oil, lost investment, pipeline gridlock and environmental rebellion on one side. Cheap money, FOMO and exploding household debt on the other.

It’s interesting an entire Calgary downtown tower is now standing empty – 600,000 square feet, no tenants. (The overall commercial vacancy rate is a withering 30%). In 416 these days kids are paying $1,200 to $1,400 for a single square foot of space. A 500-foot condo can fetch $650,000, which is 50% more than a nice detached house on real dirt in Edmonton.

Outside the GTA on Tuesday activists shut down commuter train lines. On the west coast they blocked access to the Port of Vancouver. Elsewhere in BC, Ontario and Quebec roads and rails were rendered useless to traffic. And in Toronto there are apparently heavy casualties from the bidding wars.

Remember what this blog told you about being liquid and living quietly among the masses? Dancing with your dog? It’s time.

 

167 comments ↓

#1 MF on 02.25.20 at 4:53 pm

So for interest rates to rise a thousand things have to go right, the stars have to align, and a blue moon has to show up.

For interest rates to fall all it takes is 2 days of down markets?

Remember when we all said it was a bad idea to keep rates so low for so long. Yeah. That time is now too.

Bad decision.

Mortgage rates don’t matter, no one can afford anything anyways.

MF

#2 Yukon Elvis on 02.25.20 at 4:53 pm

Outside the GTA on Tuesday activists shut down commuter train lines. On the west coast they blocked access to the Port of Vancouver. Elsewhere in BC, Ontario and Quebec roads and rails were rendered useless to traffic.
………………………………………

Burly cops with clubs. Off to the slammer. Problem solved.

#3 Dave on 02.25.20 at 4:55 pm

Once the WHO announce that the virus is a pandemic – there will be red everywhere…stocks, to supply chain, to fear leaving once house.

Add on the FN and climate change and why would anyone be bidding on real estate if the prices are dropping. Fear will hit home when Costco has empty shelves.

This is the year real estate takes a full beat down…there might be a short blip here and there but times are about the change.

#4 Penny Henny on 02.25.20 at 4:56 pm

Hey Sail Away,
how’s your SPXL wager with bdwy working out?

#5 Noisey Bill on 02.25.20 at 4:59 pm

It’s all just noise!

#6 useless on 02.25.20 at 4:59 pm

Pipeline constipation hahahah. Garth you have a way with words.

#7 Boombust on 02.25.20 at 5:00 pm

Lower mortgage rates? That won’t do squat with a country mired in a serious recession.

As for still-bubbly cities like Vancouver and Toronto, they also need to take heed from what happened during to drawn-out US housing collapse; mortgage rates continued to trend down…and so did prices.

#8 Ace on 02.25.20 at 5:04 pm

If by some miracle our Canadian economy (and by economy i mean housing market) pulls through this, I will deem it as impermeable and the most sound of investments…

#9 Howard on 02.25.20 at 5:08 pm

Major condo builder with several projects in progress in Toronto on the verge of bankruptcy.

https://www.theglobeandmail.com/business/article-former-cresford-developments-president-alleges-cash-crisis-at-condo/

https://www.blogto.com/real-estate-toronto/2020/02/one-torontos-biggest-condo-developers-said-be-having-cash-crisis/

#10 JSS on 02.25.20 at 5:08 pm

In all this mess, there is opportunity.

These down days won’t last forever either.

#11 TurnerNation on 02.25.20 at 5:08 pm

Been warning you guys, 2020-21 will be totally man made crises as we come fully under UN control.
There is a plan, a timeline and a masterful execution.
Why we are seeing the shut downs closer to large cities. Social media and online comment are scraped via A.I. to determine next move.
Totally weaponized. Middle class is the enemy.
Entire war rooms, divisions are working on this round the clock.

Humans are stupid sometimes. Ignoring our #1 predator, other humans. At our peril.

#12 PetertheSeparatistfromCalgary on 02.25.20 at 5:09 pm

An independent Alberta could arrest idiots who try to block stuff and force them to dig bitumen with a shovel and wheel barrel.

That would teach them the value of fossil fuel powered machines.

#13 G man on 02.25.20 at 5:09 pm

If you wanna protest do it on the sidewalks. Not on the street or tracks which disrupts people going to work or home. It’s illegal and we should send in the army to clear up this mess T2 get off you a$$ put them in cuffs and lock them up for good.

#14 Bezengy on 02.25.20 at 5:11 pm

And in the midst of total Chaos, T2 is working on his book, but can’t decide which title to choose.

Things Mom never told me about politics.
My successful career as a drama teacher.
I never really wanted the job anyway.
Upside down in 1825 days.
Damned those cowpeople.
A nation up in smoke.

#15 Sail away on 02.25.20 at 5:14 pm

“By the way, nobody seems to be enjoying this.”

—————————

I am. Very much so. Never expected anything different, so am sitting on bags of cash and my firm has long-term government contracts. We’re hiring, by the way. Hopefully Audrey and her ilk.

When the feds bought the pipeline, I promised to buy dinner for everyone in the office and their families if the Trans Mountain pipeline was ever built, hoping I’d be proven wrong. Doesn’t look like any dinners will be bought anytime soon.

Why is anyone surprised by the country’s response to recent events? The writing’s been on the wall for years. Plan for reality to your own benefit, rather than hoping it’ll turn out the way you want.

Don’t plan, or wear rose-coloured glasses, and be caught short every time.

Case in point: APT ended 40% up for the day. Of course it did: that’s what the data and unemotional evaluation indicated should happen.

#16 Bill Grable on 02.25.20 at 5:15 pm

The impact of the virus, the sliding price of oil, yada, yada, and then add the incredible debt load, a large coterie of folks are carrying, and I think it’s a safe bet, we are in for stormy weather.

In sailing terms we would be ‘putting a reef in the mainsail’….and everyone should have their life vest on.

#17 earthboundmisfit on 02.25.20 at 5:17 pm

New one today, courtesy Lawrence Martin at G&M.
“Bernie’s Sandernistas”

#18 Sail away on 02.25.20 at 5:18 pm

#3 JSS on 02.25.20 at 5:08 pm

In all this mess, there is opportunity.
These down days won’t last forever either.

——————————

True, but not in maple. Avoid maple at all costs.

If anyone has a bull argument for maple, I’m all ears.

#19 Ed on 02.25.20 at 5:18 pm

Worst two day point drop on record and it looks like we’re just getting started. Bubbles always burst eventually.

Not even close. – Garth

#20 Smoking Man's Old Man on 02.25.20 at 5:24 pm

“Video killed the radio star”

When will we tire of form and get back to substance.

I hope that’s the last “selfie” prime minister. What a joke he has become…

#21 Sail away on 02.25.20 at 5:26 pm

#4 Penny Henny on 02.25.20 at 4:56 pm

Hey Sail Away,
how’s your SPXL wager with bdwy working out?

——————————

Ouch… poorly, very poorly. My SPXL is now down 17% from purchase, and I assume bdwy is up an equivalent amount.

#22 Sovavia on 02.25.20 at 5:35 pm

Recent polling has also showed that people lie regularly to pollsters.

Money is too emotional for honesty’s sake; only pride is worst (why sellers do not accept losses in the spring).

#23 JSS on 02.25.20 at 5:36 pm

Premier Kenney is suggesting the Alberta provincial government may financially back an oil and gas project.

#24 G on 02.25.20 at 5:38 pm

That AJ site link to this story about a Bond issue with speculation on why who hasn’t yet…
https://www.bloomberg.com/news/articles/2020-02-25/catastrophe-bonds-signal-coronavirus-nearing-pandemic-status

#25 Re-Cowtown on 02.25.20 at 5:42 pm

Trudeau the Elder would have sent in tanks.

Trudeau the Younger does nothing but wish everyone “Sunny Days”.

Disconnected fool.

#26 -=jwk=- on 02.25.20 at 5:47 pm

Trudeau has just learned what every other politician already knows: negotiating with the indigenous is a waste of time. They aren’t represented by anyone or anything – a paper signed by the band council is worthless. A paper signed by the hereditary chiefs is also worthless as a new chief can appear anytime and simply cancel the deal, block the tracks/roads etc. What we are witnessing here is a war amongst the Wehstuten for control, and Canada is caught in the crossfire.

BTW: TMX and Coastal Link are completely different projects. TMX is being built as we speak, so someone will likely owe dinner(s)

#27 CanadianGrizzly on 02.25.20 at 5:47 pm

Not the Flu…

Garth, I have followed your blog for many years and have respect for you efforts to promote financial literacy in Canada, however; I completely disagree with you about COVID-19 being less lethal than the flu in your response yesterday to #27-Stone.

Your comparison of the flu vs. COVID-19’s lethality is hugely flawed. Influenza in its various strains has been endemic in the global population for centuries and returns annually every flu season. The coronavirus SARS-CoV-2 (the virus) which causes COVID-19 (the disease) is a new-born virus (less than 90 days old) first identified in China in mid-December 2019. Its just now starting to “go viral” outside of China.

By way of ZeroHedge quoting the Atlantic: “In an article entitled “You’re Likely to Get the Coronavirus”
https://www.theatlantic.com/health/archive/2020/02/covid-vaccine/607000/ the Atlantic explains how the coronavirus is particularly dangerous because it may cause no symptoms at all in many carriers of the infection.

According to Harvard epidemiology professor Marc Lipsitch, this contributes to his prediction that coronavirus “will ultimately not be containable.” “Lipsitch predicts that, within the coming year, some 40 to 70 percent of people around the world will be infected with the virus that causes COVID-19,” reports the Atlantic.”

COVID-19 has only been around for less than 90 days and will need time to spread across the globe’s 7.7 billion population that has no prior exposure to this virus and thus have no “herd immunity”.

Assuming that 40% of the global population is infected within 12 months with a resultant mortality rate of 3.36% (calculated based on the current COVID-19 Total Deaths over the Total Confirmed Cases counts published by John Hopkins):
https://www.arcgis.com/apps/opsdashboard/index.html#/bda7594740fd40299423467b48e9ecf6

Global mortality in 12 months could be:
7.7B * 40% * 3.36% = 103 million

Canadian mortality in 12 months could be:
37.5M * 40% * 3.36% = 504,000

A lot of what could happen over the next 12 months will depend on containment of the coronavirus – how quickly governments act to quarantine and ban travel (like in China for the past month) to contain its spread nationally, regionally and locally. A viable vaccine is at a minimum 12-18 month or more in the future according to the Atlantic article and then they’d need to ramp up production.

Quarantines are bad for consumer discretionary spending and are already having and will have further impact on the global supply-chains which will drastically affect trade and commerce. COVID-19 may finally be the pin that pricks the central bank induced “everything” asset bubble funded by reckless money printing and zirp. Economies will not quickly revert back to being business as usual for sometime if governments places their focuses on saving lives.

Tighten containment to reduce the spread and save lives or reduce containment and risk wider spread of COVID-19 to save the global economy. China started with the former but has recently shifted in favour of the latter. Unfortunately, it appears China’s government has decided that Sheeples are expendable and would rather save their economy and the global elite’s wealth. Will western governments do the same? It’s apparent that many in this blog’s comment section believe the governments around the world will act to protect their equity-based wealth bubble at all cost.

From yesterday’s blog post “So, the virus will likely get worse, then better.” But… if it becomes endemic globally which is likely (as reinfections have already occurred in recovered cases in China), it will repeat seasonally getting worse then better just like the flu. We’ll then have the cold, flu & COVID-19 season each and every year going forward. Can human-kind live with a 40% infection rate and 3+% fatality rate caused by this one disease – for how long or will it eventually become an extinction level event over time? Maybe that is why governments are freaking out over this virus by implementing unprecedented quarantines the likes of which have not been seen since the 1918 Spanish flu pandemic.

Ignore the official narrative put out by the CDC / WHO / world governments used to calm the sheeple. Instead, critically examine the actions taken by officialdom to-date in the span of less than 90 days and act for yourself accordingly.
—————————————————

Btw, I think they will let Sanders win the Democratic nomination this time due to his popularity and likely have a backroom deal in place where HRC will become his VP running mate. The combined popularity of a Sanders/Clinton ticket might lead to Sanders winning the election especially if the economy tanks from COVID-19. Then, sometime early on in his presidency, HRC and her cronies will have Sanders declared mentally and/or physically unfit to be POTUS although I don’t think they would go as far as to suicide him. As VP, HRC is proclaimed POTUS and then the US will really start to fall part. All part of the plan courtesy of the one world government crowd.

While on one world government, did you see the opening ceremonies of the Military World Games in Wuhan China in October 2019. They were heavily pushing the UN as a global military force.
The occasion was marked by hundreds of soldiers marching and dancing(?) to music while wearing blue UN helmets and carrying assault bullpup rifles flanked by laser projected images of UN symbols.
https://www.youtube.com/watch?v=gCdAY-AOG-o from the 1:56:00 mark onwards.
Creepy stuff. So one day you climate change deniers, don’t be surprised if a blue UN helmeted soldier comes knocking on your door to take you away to a re-education camp.

#28 What with the new ... on 02.25.20 at 5:49 pm

#2 Yukon Elvis on 02.25.20 at 4:53 pm
Burly cops with clubs. Off to the slammer. Problem solved.
———————————————————-
hiring policies …burly cops are no more. Can’t discriminate you know.

#29 Ronaldo on 02.25.20 at 5:52 pm

A 500-foot condo can fetch $650,000, which is 50% more than a nice detached house on real dirt in Edmonton.
——————————————————————
Which means the bathroom itself has a value of $65,000 and that amount invested in a diverside and balanced portfolio would be worth around $4600 per year. That amount would almost fund your TFSA. Crazy when you think of it isn’t it?

#30 Ronaldo on 02.25.20 at 5:55 pm

Mortgage rates don’t matter, no one can afford anything anyways.

MF
—————————————————————–
Exactly, not even affordable at Zero interest rates.

#31 Heregoesnothing on 02.25.20 at 5:57 pm

I am in Calgary, and I think the office building you are referring to, Garth, is the Nexen building, yes? Scuttlebutt on the street is that Nexen (now owned by CNOOC), who’s had the lease on the entire building since forever, claimed it has asbestos, in order to break their lease and move the whole company into the Bow tower for cheaper.

(Not sure how legitimate the asbestos claim is, but when you can be in the still-got-new-paint-job smell Bow tower for cheaper than your current building approaching 40 years old, I think most people would try to fandangle their way out!)

#32 the Jaguar on 02.25.20 at 5:59 pm

Calgary is ranked the most livable city in North America and the 5th most livable city in the world. Second lowest cost of living of Canadian cites and ninth lowest of North American cities. Calgary was ranked with an overall score of 97.5 out of 100, and ranked 100 per cent in stability, healthcare, education and infrastructure. It doesn’t have the climate of Edmonton or Winnipeg and if you like to feel the sun on your face this is the place. Don’t feel too sorry for us. Is there surplus commercial real estate space in Calgary? Yes, because this sector got overbuilt. Again. The same damn thing happened in the early 1980’s. It might have something to do with the fact that absolutely nobody seemed to see the ‘sh_t storm’ coming until Jim Prentice went on television to deliver the unpleasant news. It goes without saying that the past few years have provided an opportunity for others to ‘throw shade’ on Albertans. ‘Meanwhile, back at the ranch’, those same Albertans have been employing the good old marine slogan of “Improvise, Adapt, and Overcome”. Albertans are lean and mean, as well as a young and highly educated workforce. If intelligent people paying attention to events in this country in the past few weeks and days want to continue with their current standard of living they had better be prepared to ‘step up’ or bear the consequences of their inaction. Strange thing…, the commercial real estate numbers are one thing, but I keep wondering why there continues to be so much construction in the city of Calgary (?). For example, check out this company – Cidex Group of Companies (https://www.cidexgroup.com/projects) who are building gobs of luxury rental units. Huge towers. Given the number of rental and investor units in the city, why would that be the case? Maybe they know when to bet on a winner.

#33 DrC on 02.25.20 at 5:59 pm

The virus is pusing the stocks down and the house prices up… is there anything that will ever push the house prices down? But let’s also consider the current rate of immigration + the fact that big tech companies (and not only) will come to Toronto which again, will bring more immigration… What will ever stop Toronto from becoming the second SF or any other big city with overpriced RE?

#34 G man on 02.25.20 at 6:03 pm

If nobody buys any real estate for 6 months to a year you will see the prices drop 1.7m to 600.000 if people in Canada had a Brain. But we know that it’s not the middle class buying up all the property illegal money.

#35 G on 02.25.20 at 6:04 pm

Hi#2 Yukon Elvis,

Personally I think your suggested solution has more negatives than positives, with possibly injuring people including the burly ones.

When T2 shrugged and said it is not my problem now with a blank face stare at his news conference. That told me all I need to know about were the main problem lies.

But that’s just my take on things. I could be wrong.

I agree we have a problem(s) as a Country. I just think T2 isn’t the answerer. Maybe if I smoked some weed it might just look better, I don’t know.

#36 Treasure Island CEO - 135,251,215.88 Offshore on 02.25.20 at 6:09 pm

“Remember what this blog told you about being liquid”

100% cash? No.

Certified crystal ball posts right here.

The markets are reading my posts and reacting to them. The algos have my number. There is no other possible way I can be this accurate calling everything bang on the past 2 years.

It is not yet time to buy into the financial markets yet, but getting close. The back-to-back declines swing in the face of everything. Bounce back Tuesday? LOL Nice try.

Next, Trump is going to tell people to start buying stocks. Oh, dang, that already happened. Desperation.

Coronavirus black swan. Called it early.

I am bringing 50,000,000 onshore to stock up my questrade cash accounts. Hitting the buy button as soon as I see 20% down handle reached (bear market).

Until then, holding hard assets, which I already have loaded up on and will be hitting the sell button as soon as I see 20% up handle reached on these assets.

1.9% 5-year at the CU? That means 3.9 stress tested? Wow! That will be an appreciation on price of 95K on your typical Canadian home taking into consideration the most recent lows of 2017 at 2.49% on the discounted, plus a whole lot of new shoppers who will now be approved. And let this be known, demand for younger buyers is built up to the extreme who will be competing with the newly expanded credit of speculator / investors who just can’t get enough land in Canada.

#37 Sideshow Rob on 02.25.20 at 6:18 pm

# 102 Doug T

“Well interesting – my brothers-in-law works for the World Bank in DC for the last 2 years after 23 years with the Canadian Fed – I got a txt from him saying the WB is making dramatic preparations as of late last week due to intel re the virus situation”

I have no doubt this will be used to set up the globalist wet dream…all digital currency so that all transactions can be monitored and taxed. I just heard rumblings of “the virus sticks to paper money”. How convenient.

#38 Apocalypse2020 on 02.25.20 at 6:19 pm

If you are in the Greater Toronto Area today, seriously consider getting out before the snow starts later tonight.

Coronavirus, blockades, and a shutdown of city services through strike action in the next 36 hours could be devastating.

Regardless, get to your local store NOW and stock up before 11 pm.

PREPARE

#39 45north on 02.25.20 at 6:25 pm

Outside the GTA on Tuesday activists shut down commuter train lines. On the west coast they blocked access to the Port of Vancouver. Elsewhere in BC, Ontario and Quebec roads and rails were rendered useless to traffic.

the trick you said is never play the game too long

#40 AGuyInVancouver on 02.25.20 at 6:37 pm

#11 TurnerNation on 02.25.20 at 5:08 pm
Been warning you guys, 2020-21 will be totally man made crises as we come fully under UN control.
There is a plan, a timeline and a masterful execution.
Why we are seeing the shut downs closer to large cities. Social media and online comment are scraped via A.I. to determine next move.
Totally weaponized. Middle class is the enemy.
Entire war rooms, divisions are working on this round the clock.

Humans are stupid sometimes. Ignoring our #1 predator, other humans. At our peril.
_ _ _

In case you didn’t know, posts like this make you sound like an unhinged conspiracy theorist. FYI.

#41 Bob Dog on 02.25.20 at 6:39 pm

Shut er’ down.

I’m behind anything that might pop the ludicrous housing bubble. I’d be happy to see 35% unemployment in Canada if housing corrected 70% back to historic norm.

If thousands of families end up bankrupt and on the streets , so be it.

#42 tbone on 02.25.20 at 6:47 pm

Commuters being interviewed regarding the go train lines being blocked by FN .
One woman said she is sympathetic , but it will add 3 more hours to her commute to get home .
Ya , I believe you , lol .

Don’t any of these FN people work ? Seem to have lots of free time to disrupt the lives of people with jobs .

#43 Duffy on 02.25.20 at 6:48 pm

There are two reasons JT has trouble making executive decisions, first he never had to make many when he was young, secondly he doesn’t have the life skills that most people his age have, common sense and logic to fall back on, this wouldn’t matter as much if he was restocking grocery shelves but pretty important with the temporary position he now holds.

Also, imposing his strong socialist agenda on western Canada is like threading a metric nut on a SAE bolt.

Pun definitely intended.

#44 Decent Majority on 02.25.20 at 6:50 pm

Good post Mr. Turner. I am finding it hard to be a proud Canadian. American friends, take a lesson from us. This kind of government does not work. Domestic terrorists blocking highways and putting things on the railroad tracks without being charged with anything. A few years ago I would not have believed this could be happening in my country and nobody doing anything about it. The fact that I have enough to live out my years doesn’t sweeten it any. This is just bitter.

#45 active on 02.25.20 at 6:58 pm

Nothing like seeing your portfolio drop $100K in two days. Man I love playing this game…hope it drops more so I can scoop up more equities at firesale prices.

#46 akashic record on 02.25.20 at 7:01 pm

I rather trust the guardianship of the planet to those people, who were conscious that all their actions have consequences for 7 generations – thousands years before Al Gore and teenage climate messiah got enlightenment – than people, who run the world with the next quarter as their horizon.

#47 Mattl on 02.25.20 at 7:04 pm

#42 Bob Dog on 02.25.20 at 6:39 pm
Shut er’ down.

I’m behind anything that might pop the ludicrous housing bubble. I’d be happy to see 35% unemployment in Canada if housing corrected 70% back to historic norm.

If thousands of families end up bankrupt and on the streets , so be it.

————————————————————–

Really taking envy to the limit lol.

And if employment hits 35%, what makes you think you will be able to afford a home with no job? These doomer scenarios where homeowners takes a beating and the renters rise up are pretty funny.

Hint: if you haven’t been able to make a home work in your first 40 or 50 years of life, in almost decades of low rate, low unemployment, what in the hell makes you think you will be one of the winners in great depression scenario? You will be in a bread line.

#48 Sail away on 02.25.20 at 7:05 pm

#45 Decent Majority on 02.25.20 at 6:50 pm

American friends, take a lesson from us. This kind of government does not work.

——————————–

Well, duh.

Do you think the US would ever even remotely consider such a government?

As an American, I find the bland acceptance of (or even support for!) blockades absolutely flabbergasting.

I find it hard to believe all government, RCMP, and much of the population can be spineless and confused fools, but it’s hard to draw another conclusion.

#49 Sail away on 02.25.20 at 7:11 pm

#27 -=jwk=- on 02.25.20 at 5:47 pm

BTW: TMX and Coastal Link are completely different projects. TMX is being built as we speak, so someone will likely owe dinner(s)

——————————–

I can only hope so.

The Coastal Gas Line was also being built a few weeks ago.

#50 Scott on 02.25.20 at 7:11 pm

Hey Garth,
You’re consistent, I’ll give you that. You keep stating Trump will win as if it’s penciled in. I think Bernie has some thing working for him in that the more people get to know who he is and what he is about, the more they like him. Similar to the Trump effect with his win in 2016, I think it may help him that the media trashes him every chance they get. As people find out for themselves that he is not the boogie man communist he’s been portrayed to be, his support grows. When people hear him explain how it would benefit them to not be dependent on their employer to provide health care (which will probably bankrupt their family any way if it’s a major health issue) they’re quite receptive. When they’re educated about the fact that their current health care system is by far the most expensive on the entire planet, people respond. When he points out that Trump is cutting social programs claiming they can’t afford them while simultaneously increasing the military budget and dishing out massive tax cuts to very few people, people are responding.
By no means am I saying Bernie will definitely win but I could see it happening. As I write this CNN is playing a clip of Bernie saying positive things about the sandinistas from the 70s. They hit him for his essay that he wrote 40 years ago with a passage about rape. They literally have to go back 40 years to dig up things because their usual attack of “he’s a socialist, how are you going to pay for that” is not resonating with people that haven’t had a government that they feel worked for them in 40 years. Media pushed Biden, then Kamala, then Mayor Pete, then Klobuchar (she finished in third but a strong third in, the big take away from Iowa lol…), now it’s Bloomberg. They’re literally trying to find any one that can pick up steam because they’re fully aware that Bernie is bad for business. Six companies own about 90% of the main stream media and it looks like this time try as they may they can’t seem to stop the guy who is going to see them pay more tax and have less influence in shaping Murricca.

Sorry for the rant, love the blog! Finally got my last tax slips. Was able to throw in another 600$ to max my RRSP. I’ve been bugging close friends and family to do the same just as I bugged them early Jan to drop 6k in the TFSA. Keep fighting the good fight!

#51 Bezengy on 02.25.20 at 7:13 pm

#33 the Jaguar re: Calgary

– – – – – – – – – – – – – –

I’ve been here in Calgary for two months and it’s a fantastic city to live in. Everyone I meet here seems to know it too. Not much in the way of dried minnows you might find at Kensington market in Toronto, and no one sells tangerines on the sidewalks, but if you want to take a hike in the mountains, Calgary rocks. Off to Fernie tomorrow and back home to Timmins (if the road isn’t blockaded) after my ski trip. Break a leg folks!

#52 Steve French on 02.25.20 at 7:15 pm

And to top it all off… Smoking Man is missing!

Oh how we could use some of his hard earned wisdom now…

#53 Nonplused on 02.25.20 at 7:19 pm

I wonder if Trudeau has to buy out Tech now too, like they did with Kinder Morgan?

Here is an interesting read:

https://boereport.com/2020/02/24/teck-frontier-cancellation-uncertainty-is-costing-canadians/

So basically the First Nations affected by the mine want to see it built because they are eyeing up the jobs and othe potential economic benefits they may see, but nope, now it’s cancelled.

Oil sands operations are messy but when they are complete the land is reclaimed to a forest with bison on it. But nope, Ontario and Quebec prefer to get their oil from Saudi Arabia and Norway. I wonder who is really funding these protests?

And no, it is not because it is “bitumen”. Bitumen does not flow in a pipe because it is way to thick to pump. What goes in the pipe is “syncrude” (synthetic crude, which is light and sweet, very desirable) or “dilbit” (diluted bitumen, a mix of bitumen and natural gasoline which resembles heavy oil).

Once all the hysteria dies down I think the new mines and pipelines will be built, because there are many in demand petroleum products that cannot be made from shale oil. That’s why so much of the oil sands production heads for the US now. It’s great for making asphalts, grease, and other oil products that are not burned. Plus it produces a higher fuel oil and diesel cut. Shale oil is very light so good for making gasoline but not much else.

I also get a kick out of people who get their nickers all in a knot over the prospect of a pipeline oil spill. Yes, they do happen, but most pipelines are monitored by SCADA systems and since liquids are in-compressible the computer shuts the system down almost immediately with very little leakage. They always report the size of the spill in liters for maximum affect but the fact is cleanup usually involves a couple of dump trucks working for a few weeks. And then the protesters drive to the protest rallies in their gas powered trucks on the asphalt roads that define modern life. Doesn’t anybody but me see the irony in it? the road system is one giant oil spill. The only difference is we put the asphalt where we wanted it.

So the oil sands could really be viewed as mining for asphalt roads with some other useful products on the side.

Here is another read:

https://boereport.com/2020/02/25/what-the-record-shows-wet%ca%bcsuwet%ca%bcen-coastal-gaslink-and-the-bc-eao/

So basically what we have is 5 members of the Wetʼsuwetʼen nation who aren’t even part of the duly elected government causing all this trouble. What a waste of time and money.

I wonder if these so-called “hereditary chiefs” drive pickup trucks? I bet they do. I don’t know many natives that do not. I’m guessing they all have quads and skidoos and hunting riffles too. Most natives grow up on quads since they do not need a license or insurance on the reserve or on crown land which many reserves are surrounded by (they need insurance on crown land but not the reserve). I bet they all heat their houses too. And watch TV. And power their hockey arenas. Environmental champions my rear-end. Have you seen what quads do to an off road trail? It is a much larger impact than motorcycles. But, to be fair, there are usually lots of motorcycles on the reserve too.

#54 Damifino on 02.25.20 at 7:21 pm

To calculate the death rate of COVID-19 you need two reliable numbers: How many have been infected and How many have died (or will die) as a result.

The dead are easy to count. The number of infected beyond those confirmed by test is unknown. It could well be on the low side. There seems to be many mild and asymptomatic cases reported.

The good news is (statistically speaking) if the number infected is far higher than currently established through testing, the death rate may be far lower than the current 2.5% number being bandied about.

Always look on the bright side of life!

#55 Sail away on 02.25.20 at 7:21 pm

#47 akashic record on 02.25.20 at 7:01 pm

I rather trust the guardianship of the planet to those people, who were conscious that all their actions have consequences for 7 generations

—————————-

Ah yes, the Jews:

Where Cain and his offspring were cursed unto 7 generations for him being a murderous vegetarian.

Jews might be decent guardians. Israel is ok.

#56 Mike on 02.25.20 at 7:23 pm

Burly cops? Hardly.. This happened outside of Courtney last week.

https://twitter.com/BasedPoland/status/1229130576377942016?s=20

When the rule of law isn’t upheld by those sworn to do so, citizens will fill the void.

#57 dr talc on 02.25.20 at 7:24 pm

People, please please turn off your televisions, take a cue from Steve Wozniak.

https://www.youtube.com/watch?v=PhBVRFKVGxU&feature=emb_logo

#58 Ronaldo on 02.25.20 at 7:29 pm

Well my 60/40 b&d portfolio now even for the year. Will see where it goes from here. Luckily we had a 15% return last year which helps sooth the nerves. May be time to add some. Maybe wait for the next downleg.

#59 NoName on 02.25.20 at 7:32 pm

C’mon mf why you are complaining about interest rates you’ll be making killing selling those masks you bought other day.

I was looking tbem on Amazon boy nothing prime just 3rd party, and boy did you see a prices. I’ll need to remortgage a house to buy few packs.

#60 crowdedelevatorfartz on 02.25.20 at 7:34 pm

@#29 Whats new….
“hiring policies …burly cops are no more…”
++++
No.
Burly male cops are no more.
Some of the female cops could roll up frying pans bare handed…..

https://www.youtube.com/watch?v=sy1ZMow43Ro

#61 Frank Palazzi on 02.25.20 at 7:34 pm

I don’t know when and how it will happen but I am going to enjoy the 40% to 60% crash in real estate prices that will occur. Detroit is not a one off and it could easily happen here in the coming years.

I am going to be buying up $500,000 houses for $250,000 to $200,000 and be laughing all the way to the bank. Meantime all my government 5% to 5.25% 20 years bonds maturity remaining keeping paying interest semi-annually until 2039 to 2040, $20,000 a month divided between the four of us paying 15% maximum income taxes, TFSA’s, non-registered no RRSP’s got out of those tax traps.

#62 Keith on 02.25.20 at 7:39 pm

The theory that Trudeau has been working on his post Prime Ministerial U.N. career from the start rings more true every day. If you pass his words and actions through that filter, they make perfect sense.

I was at a real estate investment seminar recently. One of the presenters said he sent an email to Trudeau: “Justin you’re not tequila, you can’t make everyone happy.” Of course, he is slowly upsetting all of his constituencies over time, as he fails to save the environment and build a strong economy at the same time. Of course, if you look for a great candidate for Prime Minister, it’s clear we’re not attracting quality people to politics in any of the major parties.

#63 Genesis II on 02.25.20 at 7:42 pm

“Covid-19’s impact on the price of crude is just the latest assault, as the black stuff heads south of fifty bucks, and Canadian oil drops through $29 – down 6% on Tuesday.”

Is this 2016 ‘news’ all over again??? Oil dropped below $30 back then – last quote I saw was just below $50 – so obviously a typo.
As mentioned here before, Covid-19 is going to take ALL the blame for any pause in this long-in-the-tooth bull market.

Enter one of my favourite quotes:

“Bull markets are born on pessimism, grow on skepticism, mature on optimism, and die on euphoria.”- Sir John Templeton

I think we transitioned from ‘optimism’ to ‘euphoria’ during 2019 (after recovering from the late-2018 plunge). Now the stage is set for a more prolonged decline – and nothing can stop it. And this is my more optimistic view!

#64 Yukon Elvis on 02.25.20 at 7:45 pm

#29 What with the new … on 02.25.20 at 5:49 pm
#2 Yukon Elvis on 02.25.20 at 4:53 pm
Burly cops with clubs. Off to the slammer. Problem solved.
———————————————————-
hiring policies …burly cops are no more. Can’t discriminate you know.
…………………

How about burly laid off CN employees ?

#65 Nonplused on 02.25.20 at 7:47 pm

#47 akashic record

Have you ever been to a reserve? The typical native has:

– A heated house with electricity
– A pick up truck
– A quad
– A skidoo
– A hunting riffle and all available fishing equipment including nets
– Shops for the same groceries you do but has to drive further to get them
– Internet
– Cable or satellite
– Clothes and running shoes made in China
– Sometimes boats

The fact is that the average native has among the highest carbon footprints of anyone in the world. A condo living millennial doesn’t even compare.

#66 Yukon Elvis on 02.25.20 at 7:48 pm

#36 G on 02.25.20 at 6:04 pm
Hi#2 Yukon Elvis,

Personally I think your suggested solution has more negatives than positives, with possibly injuring people including the burly ones.
………………………..

Burly ones will be fine. Numerical advantage and public support.

#67 Yukon Elvis on 02.25.20 at 7:51 pm

#43 tbone on 02.25.20 at 6:47 pm
Commuters being interviewed regarding the go train lines being blocked by FN .
One woman said she is sympathetic , but it will add 3 more hours to her commute to get home .
Ya , I believe you , lol .

Don’t any of these FN people work ? Seem to have lots of free time to disrupt the lives of people with jobs .
……………………

How come no one blockades the reserves? If you are a laid of CN employee what else do you have to do ? Might as well inconvenience them too.

#68 Murry Slaughter on 02.25.20 at 8:05 pm

Garth,

Why talk about this unimportant stuff while markets are getting slaughtered, or will you wait for the next uptick to tell everyone I told you so. I see an overall correction up to 50%…even Warren Buffetmeister is saying so

Daily declines of 3% have occurred 80 times in the last thirty years. No slaughter. No 50% drop. And Buffett said no such thing. Stop embarrassing yourself. – Garth

#69 TurnerNation on 02.25.20 at 8:07 pm

For the many infectious disease and public heath experts on this forum, rest, assuredly we are in good hands. They know what they are doing. Relax!! Train train train.

http://www.centerforhealthsecurity.org/event201/

The Johns Hopkins Center for Health Security in partnership with the World Economic Forum and the Bill and Melinda Gates Foundation hosted Event 201, a high-level pandemic exercise on October 18, 2019, in New York, NY. The exercise illustrated areas where public/private partnerships will be necessary during the response to a severe pandemic in order to diminish large-scale economic and societal consequences.

Statement about nCoV and our pandemic exercise

#70 SimplyPut7 on 02.25.20 at 8:10 pm

The world is a little chaotic.

Nothing to worry about, I’m sure a rate cut will help speculators when those foreign investors they thought were coming to buy their newly completed condos, stay home because they are under lockdown in their country of origin.

You can cut the rates to zero if you want but if you have no savings and multiple sources of debt that require you to not miss a single day of work while your home, hotel (work/leisure) or place of work is under lockdown. Then you won’t be interested in buying real estate or investing in overpriced financial assets on the stock market.

I’ll save the panicking for when the poor people with the multiple condos under construction realize there are no greater fools coming to buy their treasured investment real estate.

Also, last US debate before Super Tuesday. Biden said he was running for the US Senate on Monday in South Carolina – so this should be fun.

#71 Habitt on 02.25.20 at 8:10 pm

Any new barricades set up should immediately be shut down and perpetrators arrested. Heck we could have our fleet of sea king helicopters on the ready. Take that lol

#72 Snowflakes R US on 02.25.20 at 8:21 pm

Garth,

How long before the climate change nutcases hijack the coronavirus narrative and blame it on global warming.

#73 Long-Time Lurker on 02.25.20 at 8:26 pm

>I don’t believe anything coming out of Red China or Iran on Covid-19. We’ll find out what Covid-19 really is from what’s going on in South Korea and Italy.

Feb 25, 2020, 08:26am
Iran Health Official Who Claimed Coronavirus Was Under Control Tests Positive For The Illness

Isabel Togoh
Forbes Staff

Topline: Iran’s deputy health minister Iraj Harirchi, who had been leading the country’s campaign against the coronavirus, has been diagnosed with the pneumonia-like virus, according to a spokesperson for Iran’s health ministry.

Iraj Harirchi appeared at a press conference alongside Ali Rabiei, a government spokesman, on Monday, where he coughed and appeared to be sweating profusely and wiping his face with a cloth.

On Tuesday, it was revealed that Harirchi had tested positive for the virus. “The coronavirus test for Mr Harirchi, the deputy health minister who was on the front lines combating the coronavirus, was positive,” a spokesperson for the health minister tweeted, according to AFP….

https://www.forbes.com/sites/isabeltogoh/2020/02/25/iran-health-official-who-claimed-coronavirus-was-under-control-tests-positive-for-the-illness/#447351d25ac8

#74 Yukon Elvis on 02.25.20 at 8:28 pm

I could start a go fund me page. Call it Blockade Busters. Pay people to blockade the blockaders. Make it a social event too, bring some brewskies, weenies, marshmallows. Have a nice fire. Sing some songs. Dance. If the cops bust us we can bail out and sing Jailhouse Rock. And send in new blockers. Could be a hoot. I’ll bring the kareoke machine and some Molsons. Who’s in ?

#75 Jm on 02.25.20 at 8:30 pm

All real estate is local, and local is all about jobs. The markets are taking a beating… the real question is, when will all this start affecting the real economy. Once it does, real estate values won’t go up, no matter how low the rates.

#76 crowdedelevatorfartz on 02.25.20 at 8:48 pm

speaking of “cashing in” ….

How would you like to get out of the slammer and find out …… all your bitcoin is gone……

https://www.newsweek.com/marijuana-dealer-loses-60-million-bitcoin-when-landlord-accidentally-throws-it-out-1488764

#77 Roman Candlez on 02.25.20 at 8:49 pm

#74 Long-Time Lurker on 02.25.20 at 8:26 pm

>I don’t believe anything coming out of Red China or Iran on Covid-19.
Feb 25, 2020, 08:26am
Iran Health Official Who Claimed Coronavirus Was Under Control Tests Positive For The Illness”

LOL, this guy could be the viral equivalent of Iraq General Chemical Ali from the Gulf War, claiming to have the virus cornered, fiddling while Rome Burns. I hereby dub him, Viral Har-itchy

#78 joblo on 02.25.20 at 8:50 pm

Calgary, “Kanada’s Detroit”

#79 Belieber on 02.25.20 at 9:00 pm

Garth…misinformed again. Bernie is being pumped by the wrinklies or whatever you used to call them.

Last weekend Bernie had some old guy named Dick Van Dyke on insta begging old people to support him.

#80 akashic record on 02.25.20 at 9:01 pm

#56 Sail away on 02.25.20 at 7:21 pm

#47 akashic record on 02.25.20 at 7:01 pm

I rather trust the guardianship of the planet to those people, who were conscious that all their actions have consequences for 7 generations

—————————-

Ah yes, the Jews:

Where Cain and his offspring were cursed unto 7 generations for him being a murderous vegetarian.

Jews might be decent guardians. Israel is ok.

Yeah, like this one… with great respect to natives.

#81 Nonplused on 02.25.20 at 9:04 pm

The thing I am not sure about with this Covid-19 virus is whether quarantines can actually stop it. It has a long incubation period and you can catch it again (which I suppose is true of most viruses).

Seems to me what will happen is that people will catch it and some will die until the human immunity defense systems figure it out, either naturally or with vaccination.

I’ve never had a flu vaccination, and I’m doing fine. But I did get polio and all the other big vaccinations. I am not an anti-vaccer.

So I guess the big question is was this made in a lab or is it just another genetic mutation? And will it be able to overwhelm the human immunity system that has been evolving for what, 500 million years through various life forms? Viruses have always been with us but they have never killed everybody. They can’t. Parasites that kill the host also die.

Still, 2-4 weeks worth of food in the pantry. Once you get quarantined it is to late, there won’t be any food left at the grocery store and they won’t let you in. Be prepared for a 4 week stay-at-home Netflix vacation, where you literally cannot open the door other than to let the dog out. Oh and cheese and crackers, if this thing is inter-species and dogs, cats, mice and rats can get it we are well and truly screwed. Not worried about the bats because they have mostly gone awol with the decline of flying insects due to all the pesticides.

#82 whiplash on 02.25.20 at 9:10 pm

Just watched an interview with an Indigenous leader and I was amazed the rough shape his teeth were in. Only six short years ago Health Canada spent $1.1 BILLION on additional supplementary dental, vision and prescription drugs. With that kind of money one surely would have had dental work done that would put any Hollywood star to shame.
I guess he didn’t get the memo!

#83 Nonplused on 02.25.20 at 9:10 pm

PS. Except in Africa, where the locust situation might indicate it is time for some pesticides. They are suffering a plague of biblical proportions. Starvation will result unless they start eating the locusts. Ick, I think I would rather just die if it didn’t hurt.

#84 Barb on 02.25.20 at 9:13 pm

“Of course, if you look for a great candidate for Prime Minister, it’s clear we’re not attracting quality people to politics in any of the major parties.”

————————————————————–
Based on what T2’s (not) doing, I dream of Canada without him. And it’s better. And the FN all go back to Siberia from whence they came (according to the Human Genome Study).

And then I woke up to hear H musing aloud “…a buying opportunity”.

I am heading out to go talk to the neighbour’s dog.
That will be today’s highlight.

#85 Decent Majority on 02.25.20 at 9:28 pm

#47. You are talking about imaginary people. What the government is unable to deal with right now are extortionists and eco-fascists.

#86 Camille on 02.25.20 at 9:35 pm

I didn’t see a lot of conviction for still lower yields in the bond market today, which is good. The market appears glued to the virus narrative, so more bad news, will drive it lower until the story is forced to change by facts. I’m still optimistic, for a resolution soon. Is it worse than the train so far?

#87 akashic record on 02.25.20 at 9:49 pm

#66 Nonplused

Canadian anthropologist, Wade Davis can explain why we need to listen to natives from all over the world.

http://21393.mc.tritondigital.com/CBC_IDEAS_P/media-session/999d7a4e-facd-48ea-8a95-d10ac9ed5c59/ideas-G6lMa9Iq-20200218.mp3

#88 JSS on 02.25.20 at 9:59 pm

Calgary’s days of head office employment for O&G are effectively over. There’s too many structural changes in the economy to go back to the good old days.

I’d say their future is to continue building on logistics/warehousing/distribution. Not a sexy employment field, and won’t fill the downtown office towers, but it’s still a fast growing sector, and Calgary’s western Canadian location is ideally suited.

#89 akashic record on 02.25.20 at 10:01 pm

#80 Decent Majority on 02.25.20 at 9:28 pm

#47. You are talking about imaginary people. What the government is unable to deal with right now are extortionists and eco-fascists.

These “imaginary people” have relationship with the world and teachings about it you obviously never heard of.

You live on the land of these “imaginary people”, without their invitation.

#90 espressobob on 02.25.20 at 10:12 pm

Some of us see a buying opportunity brewing in the wind.

Who was is it that said to be greedy when others are fearful?

#91 Sail Away on 02.25.20 at 10:14 pm

#81 akashic record on 02.25.20 at 9:01 pm
#56 Sail away on 02.25.20 at 7:21 pm

#47 akashic record on 02.25.20 at 7:01 pm

I rather trust the guardianship of the planet to those people, who were conscious that all their actions have consequences for 7 generations

—————————-

Ah yes, the Jews:

Where Cain and his offspring were cursed unto 7 generations for him being a murderous vegetarian.

Jews might be decent guardians. Israel is ok.

———————–

Yeah, like this one… with great respect to natives.

———————–

Everyone gets general respect, and those who earn respect get earned respect.

Nobody gets special respect based on lineage or race. That would be unequal opportunity for others.

#92 DON on 02.25.20 at 10:38 pm

#31 Ronaldo on 02.25.20 at 5:55 pm

Mortgage rates don’t matter, no one can afford anything anyways.

MF
—————————————————————–
Exactly, not even affordable at Zero interest rates.
*********
Like Jm stated ‘it all about local jobs’ also sucks that new home buyers at all wage levels are being priced out of most markets.

Will the dismal momentum in the local and global economies stall due to the virus? If it does – debt saturation and job loss will be a nasty combination. The end of an economic cycle based on debt.

A friend’s daughter is in the early stages of a divorce. She owns a condo. Phoned a real estate agent to check things out. Agent says ‘this is a good time to get out, lots of worrying out there’. The agent was older/semi retired and I am not sure if ‘this is a good time to sell’ was based on the pending condo insurance increases or just low/no activity. Friend is providing me the email to check out – will confirm.

#93 just snootin' on 02.25.20 at 10:41 pm

Just a note to anyone online who stumbles on this, a good thing to do to help stop a contagion is to check on fam/friends/neighbs and if they are ill, drop off food/supplies/etc so they stay home. Leave it the mud room.
Thanks Garth.

#94 Sail Away on 02.25.20 at 11:12 pm

#75 Yukon Elvis on 02.25.20 at 8:28 pm

I could start a go fund me page. Call it Blockade Busters. Pay people to blockade the blockaders. Make it a social event too, bring some brewskies, weenies, marshmallows. Have a nice fire. Sing some songs. Dance. If the cops bust us we can bail out and sing Jailhouse Rock. And send in new blockers. Could be a hoot. I’ll bring the kareoke machine and some Molsons. Who’s in ?

—————————-

Sure, I’ll stop by… you’ll recognize me by the MAGA hat.

#95 Larry F BeEss on 02.25.20 at 11:15 pm

Been a while since here, but some big egos posting.

#96 fishman on 02.25.20 at 11:35 pm

Welcome to the world of FN blockades. You Easterners a little late to the dance. Around 25 years ago us commercial guys were shut down on Fraser sockeye because the natives were fishing full tilt up the Fraser canyon & DFO was afraid for escapement.
Four of us decided to drive up the canyon in my buddies crew cab & check it out. Sure enough, lots of fish being loaded for transfer & sale on various size trucks.. No DFO fish cops or RCMP in site. Lots of natives. Not all our local smaller, rounder faced Coast Salish. Mixed in were big men with their hatchet faces & eagle beak noses. Had to be Mohawks, Cree or Ojibway. All dressed in camo. AK 47’s slung over their shoulders. Full banana clips & spares on their belts alongside hatchets & knives.
We turned the music off, didn’t say a word & kept on driving. Finally came to a spot on the highway where we could U turn with nobody around. Drove back through them eyes on the road & hands upon the wheel. When we got to Abbotsford stopped for the cheap gas & pop cause it was awful hot. One of the fellows said “I think we’re finished boys”. And we were.

#97 Nonplused on 02.26.20 at 1:14 am

#88 akashic record

Wait, what? Natives from all over the world???? Would that include Russians? How about the Chinese? The Dutch? Not the ones living in Canada or the US (or South Africa) but last I checked most of Holland was still dutch. What about England? What about India?

This is silly talk. North American natives drive pick up trucks just like I do. They don’t know anything more about stewarding the land responsibly than I do. What they do know is that grievance politics pays.

I suppose there might be some tribes living deep in the Amazon that are still totally isolated and don’t have wifi. But the live at the mercy of the land, not in charge of it. The idea that man would steward the land is actually kind of Genesis 2 thing, not ancient tribal behavior.

Word is that when what we call native Australians first got there they burned the whole place to the ground to kill the giant lizards that were eating them. I don’t know if that theory is confirmed but it shows kind of what living of the land looks like.

Our own natives are thought to be largely responsible for the extinction of the mammoth when they first arrived over the ice bridge. Buffalo were more plentiful and harder to kill so a balance arose.

We need to stop making heroes out of people in pickups or carbon fiber boats with diesel engines. Or Al Gore and his private jet.

#98 Fortune500 on 02.26.20 at 1:18 am

Do you really really not think that eventually the Coronovirus will get taken care of?

Yes, it is novel, and yes, it is harder to deal with due to the long incubation period, but the largest study to date on over 40,000 infected found a fatality rate of only 0.4 in the sickest of healthy adults. It only gets really bad for those over 70 and those with pre-existing conditions. This will kill many people, likely in regions with less capable medical staff and infrastructure, but just like the flu.

But eventually it will run its course (see China at the moment) and eventually a vaccine will be available. This will take months, maybe a year, but this is not 28 Days Later people.

I see a real buying opportunity in the next few weeks. At the very least just sit on your hands. This is the very antithesis of being GREEDY when others are FEARFUL.

#99 HH on 02.26.20 at 1:29 am

@ #77 crowded: “all your bitcoin is gone…”

Yep. That’s what always scared me off experimenting with bitcoin.

Read everywhere that all online bitcoin storage places were eminently hackable, and the safest thing for it was offline cold storage.

But then doesn’t that kind of get you back to the state of keeping money in the mattress? It’s electronic currency you are stashing in the mattress, but exactly same kind of risk, no?

#100 John Wong on 02.26.20 at 1:34 am

BANNED

#101 R on 02.26.20 at 2:17 am

#55 Damifino
In calculating the fatality rate of the Corona Virus, there is a lag time between the time getting infected and the final outcome. The question is how many people died to how many people recovered.

#102 Gerry Bao on 02.26.20 at 2:36 am

Alberta fights back. Great news. The radical attack of a Trudeau fractures Canada. This is it, Separation next. Fantastic news.

#103 just snootin' on 02.26.20 at 2:53 am

Here’s an update on schools in the Tri-Cities, which basically says they are isolating and tracking back routes of possible infection. Way better than some mass quarantine, but included is an interesting bit of info, “..measles are different because the virus hangs in the air longer and people need to be aware they may have been in contact with it. That’s different from COVID-19, which requires close contact between individuals to spread..” from Dr. Bonnie Henry, head doc.
So, plan accordingly. No face licking.

https://www.tricitynews.com/news/health-officials-won-t-id-schools-affected-by-covid-19-1.24084005

#104 NoName on 02.26.20 at 7:26 am

#103 just snootin’ on 02.26.20 at 2:53 am

So, plan accordingly. No face licking.

Misspelled last sentence, should be, no fence licking. No?!

#105 akashic record on 02.26.20 at 7:35 am

#92 Sail Away on 02.25.20 at 10:14 pm

Nobody gets special respect based on lineage or race. That would be unequal opportunity for others.

Natives traditions and approach (around the world) to Mother Earth is the basis of the respect.

Others have plenty of opportunity to prove they deserve equally high respect.

#106 akashic record on 02.26.20 at 8:07 am

#98 Nonplused

As Garth wrote: “Now the FN protests have turned a structural problem into an intractable mess. They’re not about just a pipeline anymore. It’s land. Residential schools. Missing aboriginal women and girls. Unceded land. Treaty rights. A thousand years of injustice and colonialism. Plus climate change.”

Canada comes with this unresolved baggage.

If that inconveniences too much anyone who arrived here without invitation, or finds it too much to handle, the door is open to return to live on the land of their ancestors, where everything is resolved.

#107 crowdedelevatorfartz on 02.26.20 at 8:07 am

@#81 Akashic record
“I rather trust the guardianship of the planet to those people, who were conscious that all their actions have consequences for 7 generations”
++++

Spare me.
During the Ipperwash blokades and protests a university prof was curious about the makeup of the aboriginal and non aboriginal protesters.
So he did a survey of them during and after it was all over.
Most of the non native protesters were there to “save the planet ( ie trees, water, whatever)
The aboriginals were there to get control of the land….so THEY could develop it….

Make no mistake.
The Wetsuweten aboriginal “protesters” dont give two cow turds over a thin pipeline running through less than 0.05% of their undeveloped , empty, forested land…..they want more money.
The non aboriginals are a polyglot of anarchist luddites looking for any excuse to protest anything as they happily cash their govt subsidy cheques or use free medical govt facilities as the drive on govt roads and bridges to get to the nearest tattoo or piercing shop.

Hypocrites all on a creaky, overloaded ( if you’ll pardon the pun)bandwagon.

I noticed that now that the Vancouver police FINALLY started enforcing the Court injunction yesterday….

Out of the several hundred protesters at Hastings and Clark intersection ( only a few blocks from the always politically aggrieved ,protesting Commercial Dryve crowd) ….only SIX people were willing to be arrested….. six political slogan spewing ‘protesters” that seemed angry that more of their “freinds” werent joining in….idiots all.
All the rest quickly scurried onto the sidewalks, angrily staring at the tv cameras like the sullen children they are.

These arrests should have happened 2 weeks ago.
But look on the bright side.
Trudeau’s team of spin doctors cant find a way out of his ridiculous fantasy world of appeasing natives and green millenials protesters while spending 10 billion dollars on a pipeline for fuel to Asia.
He has proven to the electorate he doesnt have all the answers for everyone.
Not too smart when he’s sitting in Parliament with a minority govt….hanging on by his fingernails.
Lets see how he’ll handle rising unemployment if the economy drops its pants and squats over the Corona scare.
Asia is slowing , Europe is slowing, …….

I know.
Lets all run massive deficits and eat shrubs and sing Koom-buy-yah………..”The ah, um, errrr, ah, um, the um err, budget will, ah, errr, umm balance itself…”

#108 Sail away on 02.26.20 at 8:23 am

#106 akashic record on 02.26.20 at 7:35 am

Natives traditions and approach (around the world) to Mother Earth is the basis of the respect.

————————-

That statement includes the entire human race.

We’re all natives of somewhere. Natives aren’t restricted to Dances with Wolves.

#109 crowdedelevatorfartz on 02.26.20 at 8:26 am

@#104 Snootin
“That’s different from COVID-19, which requires close contact between individuals to spread..” from Dr. Bonnie Henry, head doc.”
++++

Did you notice in that CV19 story that the Dr would NOT tell the media which schools may be affected (infected?).

They dont want the kids to be ostracised or bullied…..
Its pink shirt day today….
Sneeze in your pink shirt

#110 crowdedelevatorfartz on 02.26.20 at 8:31 am

@#105 Noname
“Misspelled last sentence”
+++++

Please dont start a “spelling war”….you’ll lose.

#111 Phylis on 02.26.20 at 8:33 am

It’s kinda like firsters. They exist, announce their claim with great pride (been there), yet know or have forgotten the rules and proceed to say the rules do not apply to them with circular reasoning. Why the obsession with firsting?

#112 Sail away on 02.26.20 at 8:42 am

#106 akashic record on 02.26.20 at 7:35 am

Natives traditions and approach (around the world) to Mother Earth is the basis of the respect.

————————-

Be careful about attributing noble characteristics or engaging in revisionist history.

People are people and will always act like people.

#113 Q2 Class No. 6131 on 02.26.20 at 8:55 am

Hey Garth –

Great column, as usual. (MSU)

Almost seven years ago you penned a column on ‘Living Small’, or something similar. It was about living light, staying liquid and keeping your head down (or living quietly among the masses). I followed that advice – I rent at Y&E, have a great job on Bay St., money in the bank and no debts. I see you are once more advising people to do this. The wise ones will take your advice.

#114 SoggyShorts on 02.26.20 at 9:04 am

#106 akashic record on 02.26.20 at 7:35 am
#92 Sail Away on 02.25.20 at 10:14 pm

Nobody gets special respect based on lineage or race. That would be unequal opportunity for others.

Natives traditions and approach (around the world) to Mother Earth is the basis of the respect
*****
Sorry, but I don’t think anyone should get respect for what their ancestors did anymore than others should be blamed for what theirs did.

Like everyone has tried to point out to you, the natives you’re thinking about don’t exist anymore outside of old movies and –maybe– a handful of protected tribes.

Surely the protestors who rolled up to the barricades in F-150s aren’t what you’re imagining?

Frankly, your view of natives is quite racist.

#115 crowdedelevatorfartz on 02.26.20 at 9:37 am

Alberta Blockade Bill
$25,000 fines or jail….
Take your pick.

https://edmontonjournal.com/news/local-news/protestors-who-block-railways-highways-or-pipelines-would-face-up-to-25000-in-fines-under-ucp-bill

#116 James on 02.26.20 at 9:38 am

#93 DON on 02.25.20 at 10:38 pm

#31 Ronaldo on 02.25.20 at 5:55 pm

Mortgage rates don’t matter, no one can afford anything anyways.

MF
—————————————————————–
Exactly, not even affordable at Zero interest rates.
*********
Like Jm stated ‘it all about local jobs’ also sucks that new home buyers at all wage levels are being priced out of most markets.

Will the dismal momentum in the local and global economies stall due to the virus? If it does – debt saturation and job loss will be a nasty combination. The end of an economic cycle based on debt.

A friend’s daughter is in the early stages of a divorce. She owns a condo. Phoned a real estate agent to check things out. Agent says ‘this is a good time to get out, lots of worrying out there’. The agent was older/semi retired and I am not sure if ‘this is a good time to sell’ was based on the pending condo insurance increases or just low/no activity. Friend is providing me the email to check out – will confirm.
_____________________________________________
#9 Howard on 02.25.20 at 5:08 pm

Major condo builder with several projects in progress in Toronto on the verge of bankruptcy.

https://www.theglobeandmail.com/business/article-former-cresford-developments-president-alleges-cash-crisis-at-condo/

https://www.blogto.com/real-estate-toronto/2020/02/one-torontos-biggest-condo-developers-said-be-having-cash-crisis/
___________________________________________
Insurance crash and buyers backing out, huge rental pool, Airbnb all spell an end to condo owners. They will all lose their shirts. You really have to be an utterly foolish unadvised person to purchase a condo today. It is only the wealthy lethargic retirees that want to be sheltered up in their concrete bunkers watching tv all day that can meet the expense of the fees and don’t give a damn about their asset losses. Guess what in ten to fifteen years condos will be the most economical form of investment to pick up as boomers expire and leave their assets. Boomers losses our future gains.

#117 YVR Expat on 02.26.20 at 9:45 am

More and more Canada looks like a failed state, a nation of two people’s: the elite and everyone else. Want to have a growing economy? You need more people (more babies) and infrastructure (that means you have to build things). Canadian women don’t want babies (goodbye future) and Canada doesn’t want to build things. RIP.

#118 FLywest29 on 02.26.20 at 9:48 am

#92 Sail Away on 02.25.20 at 10:14 pm

Nobody gets special respect based on lineage or race. That would be unequal opportunity for others.

Natives traditions and approach (around the world) to Mother Earth is the basis of the respect.

Others have plenty of opportunity to prove they deserve equally high respect.

You should really go visit a reserve and report back about your findings. Your fairytale view of native life will be shattered in so many ways it’ll make you cry.

#119 Sail away on 02.26.20 at 9:51 am

Yowza- second 10-bagger in a month! First Tesla, now APT.

Exciting times.

#120 Not So New guy on 02.26.20 at 9:53 am

So oil drops 6% and the price of gas goes from $1.28 to $1.49 in the lower mainland

I haven’t seen math like that since a government budget

#121 EB on 02.26.20 at 10:10 am

No Jurisdiction means Canada does not exist. Simple as. It’s helpful to have the lines drawn so clearly.

#122 Samual Beckman on 02.26.20 at 10:14 am

BANNED

#123 just snootin' on 02.26.20 at 10:17 am

#105 NoName on 02.26.20 at 7:26 am

Misspelled last sentence, should be, no fence licking. No?!

Face licking. A lot of us still do this as a greeting or a sign of affection.

#124 Lambchop on 02.26.20 at 10:39 am

#106 akashic record

Natives traditions and approach (around the world) to Mother Earth is the basis of the respect.

Others have plenty of opportunity to prove they deserve equally high respect.

“””””””””””””””””””””””””””””””

Akashik, what do you base your opinion of FN stewardship on? Do their industries produce less waste? Is their approach more considerate of the environment? What about their social programs? Care for their youth? All better than what we “settlers” do?
Have you visited a reserve? A northern reserve? An FN-run mine or gravel pit?

Please stop mistaking their ceremonial traditions for environmental excellence.

For the most part I believe First Nations want to be on equal footing with everyone else, socially and economically so why are we accepting a minority of rogues as the de facto speakers for an entire population? I realize it helps assuage some people’s misplaced feelings of guilt, but grow up.

#125 Eks dee Siple on 02.26.20 at 10:49 am

“the FN rebels and their dewey-eyed young altruistic, Twitter-fed disciples.” I think you mean Eks dee Siples! I see what you did there:) Anyway, like I said, business as usual is not gonna cut it anymore… A new dawn rises.

Stone – I agree with your views on the virus. I’m personally not really afraid of the virus itself but moreso on the mounting likelihood of economic shutdown. Imagine two months of house quarantine enacted in Canada for everyone? Quarantine the word root meaning was 40 days of isolation on sailing vessels in the old days, they were much smarter back then. Symptoms may not show up until after 30 days.

#126 Rossi46 on 02.26.20 at 10:55 am

Has anyone considered that something produced by a worker from China may contain the virus either in the product or the packaging?

What if a worker sneezed on the product and then it is packaged?

Yikes!!!!!

#127 Eks dee Siple on 02.26.20 at 10:57 am

#118 YVR Expat..”More and more Canada looks like a failed state, a nation of two people’s: the elite and everyone else.” CORRECT. WHAT I HAVE BEEN SAYING FOR YEARS ON THIS BLOG. The elite are bankers and their government and corporate puppets.

“Canada doesn’t want to build things.” WRONG. WE WILL BUILD BETTER THINGS. As an expat, you don’t really care anyway, so stop pretending.

#128 Yukon Elvis on 02.26.20 at 10:57 am

#107 akashic record on 02.26.20 at 8:07 am

Canada comes with this unresolved baggage.

If that inconveniences too much anyone who arrived here without invitation, or finds it too much to handle, the door is open to return to live on the land of their ancestors, where everything is resolved.
……………………………………….

Were the “aboriginal” immigrants invited here when they walked over from Siberia? Should they return to the land of their ancestors too ?

#129 Sail away on 02.26.20 at 11:00 am

#115 SoggyShorts on 02.26.20 at 9:04 am
#106 akashic record on 02.26.20 at 7:35 am
#92 Sail Away on 02.25.20 at 10:14 pm

Nobody gets special respect based on lineage or race. That would be unequal opportunity for others.

——————————

Natives traditions and approach (around the world) to Mother Earth is the basis of the respect

——————————

Sorry, but I don’t think anyone should get respect for what their ancestors did anymore than others should be blamed for what theirs did.

Like everyone has tried to point out to you, the natives you’re thinking about don’t exist anymore outside of old movies and –maybe– a handful of protected tribes.

——————————

They never existed. The concept of ‘Lo, the noble savage’ was coined in England during the 19 century as a romantic ideal. Ideals rarely survive contact with reality.

#130 miketheengineer on 02.26.20 at 11:14 am

Garth et al:

Warning to all ordering STUFF from USA to Canada via Canada Post.

I recently ordered some STUFF from a vendor in the USA. The product was shipped via USPS. It arrived in Canada. Canada Post and Canada Customs has taken the package hostage. No product and no way to contact anyone. I just lost ~200 CDN. I don’t know if this has to do with the Virus or what…..I have never had product held up for more than a day or 2 tops, before being delivered. Canada Post has been good in the past, but now I have just lost a $200 package of STUFF and no way to get a refund or get my package. Is it the Virus?

#131 Phylis on 02.26.20 at 11:24 am

#127 Rossi46 on 02.26.20 at 10:55 am A Simpsons episode already addressed that. At least they obeyed the traffic rules.

#132 IHCTD9 on 02.26.20 at 11:26 am

I have to start spending my Trudeau bucks this summer, we’ve got over 30 grand in handout cash just rotting in the bank. It will probably be right at 50 grand by June. Gotta love this new Bacon clad Liberal CCB system, and mega deductions at tax time.

Kids: Just get shacked, live in a smaller area, and make 100K+ HH income. Don’t matter how. Do this and you’ve got it made in the shade. All the freebies the government offers and big tax returns right alongside awesome housing prices and low costs of living. If you love playing outdoors – there’s no better way to go.

#133 G on 02.26.20 at 11:26 am

DELETED. No more virus conjecture. – Garth

#134 Sail away on 02.26.20 at 11:39 am

#107 akashic record on 02.26.20 at 8:07 am

If that inconveniences too much anyone who arrived here without invitation, or finds it too much to handle, the door is open to return to live on the land of their ancestors, where everything is resolved.

—————————-

So, Akshy, you’re saying anyone who doesn’t agree with you should go back to where they came from?

#135 YVR Expat on 02.26.20 at 11:40 am

#128 Eks dee Siple on 02.26.20 at 10:57 am
#118 YVR Expat..”More and more Canada looks like a failed state, a nation of two people’s: the elite and everyone else.” CORRECT. WHAT I HAVE BEEN SAYING FOR YEARS ON THIS BLOG. The elite are bankers and their government and corporate puppets.

“Canada doesn’t want to build things.” WRONG. WE WILL BUILD BETTER THINGS. As an expat, you don’t really care anyway, so stop pretending.

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

What are we building?

Try to build an oil pipeline – No! Protest and cry like babies. Nothing gets built.

Try to build a natural gas pipeline – No! Protest and cry like babies. Nothing gets built.

Try to build a hydroelectric dam – No! Protest and cry like babies. Nothing gets built.

So tell me Eks…what are we allowed to build in Canada?

#136 Sail away on 02.26.20 at 11:41 am

#107 akashic record on 02.26.20 at 8:07 am

If that inconveniences too much anyone who arrived here without invitation, or finds it too much to handle, the door is open to return to live on the land of their ancestors, where everything is resolved.

————————

Such intolerance. Sad.

#137 Sail away on 02.26.20 at 11:45 am

#124 just snootin’ on 02.26.20 at 10:17 am
#105 NoName on 02.26.20 at 7:26 am

Misspelled last sentence, should be, no fence licking. No?!

————————

Face licking. A lot of us still do this as a greeting or a sign of affection.

————————

You dog, you.

#138 Barb on 02.26.20 at 11:53 am

“So oil drops 6% and the price of gas goes from $1.28 to $1.49 in the lower mainland. I haven’t seen math like that since a government budget.”
——————————————–

And gas was 99 cents in AB. Also for 1 day in Penticton.

#139 IHCTD9 on 02.26.20 at 11:58 am

Speaking of spending stagnant cash reserves…

It’s been a while, but some may recall I like to engage in the Kijiji economy where great deals can be had, and cash money can be generated.

Last fall I was in liquidation mode, and the result was a fat envelope full of green red and brown ones sitting on our bedroom dresser.

2 weeks ago, I realized I am still playing the same old guitar I bought as a kid back in 1989. It’s rough.

I thought of the envelope…

A week after that and I now own a very nice chunk of solid mahogany from SK. Set neck, Grover tuners, active EMG 85/81 pickups, 3pc maple neck, 7 string hard-tail electric. Man did I get a deal on this thing! Used, but like new, less than half price – barely even used. The envelope was still fairly plump.

My amp was a POS 15W Crate I bought at a pawn shop 10+ years ago. So I ordered the new Boss Katana II 100 Watt head from L+M 2 days ago. There were zero of these for sale on the used market unfortunately. L+M even had to bring it in, all their stores were sold out. Those of you who follow guitar gear already know this thing is huge bang for the buck – even when bought new.

The envelope still refused to empty, so the hunt is now on for a 4×12 or 2×12 cab. The used market here sucks, old junk for pennies, and great quality stuff for almost new prices. I’ll probably either buy new, or build myself a vertical 2×12 exactly the way I want it to match the Katana II.

I have more to sell on Kijiji this summer, I think I already know what the proceeds will go towards :D

#140 oh bouy on 02.26.20 at 12:07 pm

@#133 IHCTD9 on 02.26.20 at 11:26 am
I have to start spending my Trudeau bucks this summer, we’ve got over 30 grand in handout cash just rotting in the bank. It will probably be right at 50 grand by June. Gotta love this new Bacon clad Liberal CCB system, and mega deductions at tax time.

___________

was the same under harper.
i received almost 20k in rebates after i built my house.
doubled that money already.
gov contibutions to the kids resp’s are killin’ it as well

#141 Doug in London on 02.26.20 at 12:11 pm

@the Jaguar, post #33:
Good points you make. Having been to Calgary, I see a lot of advantages to living there. I don’t know why more companies aren’t taking advantage of Calgary, like the CPR did many years ago. One example that comes to mind in Amazon, that set up shop in Vancouver. Why the hell didn’t they set up shop in much cheaper and more livable Calgary?

#142 TurnerNation on 02.26.20 at 12:15 pm

I get people are scared of mentions of powerful stuff that’s been developed then hidden out of sight.
Artificial Intelligence recording our every move and mood. Nanotechnology….doing what? They certainly ain’t using it to heal our bodies as suggested back in 2000 (I remember).
Here’s a simple test. In a busy public place leave your Iphone unattended.
Within a few minutes you have a 50/50 chance of it disappearing. Predators everywhere. Then imagine what the guys at the top with unlimited money and connections are cooking up.

Wait till Un-Free Land comes into power.
AB will then be fully shut down.
I’d love to be proven wrong.

#143 IHCTD9 on 02.26.20 at 12:20 pm

#136 YVR Expat on 02.26.20 at 11:40 am
#128 Eks dee Siple on 02.26.20 at 10:57 am
#118 YVR Expat..”More and more Canada looks like a failed state, a nation of two people’s: the elite and everyone else.” CORRECT. WHAT I HAVE BEEN SAYING FOR YEARS ON THIS BLOG. The elite are bankers and their government and corporate puppets.

“Canada doesn’t want to build things.” WRONG. WE WILL BUILD BETTER THINGS. As an expat, you don’t really care anyway, so stop pretending.

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

…So tell me Eks…what are we allowed to build in Canada?

____

Debt.

#144 Greg on 02.26.20 at 12:25 pm

Sorry Garth Just saw your note after I hit send. to #127. I will stop.

#145 NoName on 02.26.20 at 12:28 pm

#124 just snootin’ on 02.26.20 at 10:17 am
#105 NoName on 02.26.20 at 7:26 am

Misspelled last sentence, should be, no fence licking. No?!

Face licking. A lot of us still do this as a greeting or a sign of affection.

—-

LOL, I guess science is correct about evolution :-).

https://www.msn.com/en-us/video/l/cute-capuchin-monkey-shows-affection-by-licking-owners-face/vp-AAI3EyD

And as for fence will be mentioned in reports and medical books eventualy.

#146 cto on 02.26.20 at 12:32 pm

So Garth
It really would be nice for you to direct this blog back to Real estate…GTA real estate.

Please, please, please do a page on what will happen in the GTA if rates go lower and potentially cross the “0” mark.

They are going to drop in the next 3 months, with or without a recession. If recession, my guess is they will fall right to “0” and very likely drop through…
Then what???

#147 IHCTD9 on 02.26.20 at 12:35 pm

#121 Not So New guy on 02.26.20 at 9:53 am
So oil drops 6% and the price of gas goes from $1.28 to $1.49 in the lower mainland

I haven’t seen math like that since a government budget
___

1.49?!?!

That’s gotta be DOUBLE what your neighbours to the East are paying!

**DOUBLE**

The more I hear from our resident BC dogs, the more I understand that BC has totally freaking lost its mind.

#148 Steven Rowlandson on 02.26.20 at 12:42 pm

“Well, for all you people in Alberta, stranded by illegal protests, watching real estate equity fade, seeing energy jobs snuffed by the Forces of Greta, feeling alienated and wondering why people burning tires on railway lines are getting more attention than you, stop being so darn selfish. I mean, sheesh, there are people in Toronto who actually can’t afford a nice, seven-figure house.”

Poor babies with a 7 figure home to sell! Most homeless people if they had work would be hard pressed to buy a 30 to 50 grand raised bungalow on a lot. For many renting anything is out of the question and living like their parents or grand parents is an extravagant luxury reserved for lottery winners. Hey Yuppies and Boomers wake up and smell the coffee! You and your buddies in the real estate business went too far!

#149 Decent Majority on 02.26.20 at 12:51 pm

Akashic Record. Your ignorance is entertaining. I am closer to the land than you could ever be. I protect the wildlife on it. I have looked into the eyes of the wild wolf at ten feet with mutual respect. The friends of the earth that murdered the herd of elk I protected were from the local Rez. You just regurgitate stupid platitudes like my cat when he overeats.

#150 GAV on 02.26.20 at 1:05 pm

Congrads to all you Central and Eastern Canada types.

You all now have the proud distinction of electing the two most incompetent governments in the history of the world.

The Wynne and Trudeau Liberals.

The fact they are Liberal governments is pure coincidence.

The destruction of the oil industry in Alberta was never about the environment or about deversifying the economy. It was about retaining political control in the east.

A prosperous West would mean equality in Confederation, and you cant have that.

#151 IHCTD9 on 02.26.20 at 1:06 pm

#141 oh bouy on 02.26.20 at 12:07 pm
@#133 IHCTD9 on 02.26.20 at 11:26 am
I have to start spending my Trudeau bucks this summer, we’ve got over 30 grand in handout cash just rotting in the bank. It will probably be right at 50 grand by June. Gotta love this new Bacon clad Liberal CCB system, and mega deductions at tax time.

___________

was the same under harper.
i received almost 20k in rebates after i built my house.
doubled that money already.
gov contibutions to the kids resp’s are killin’ it as well
___

Yeah, Harper handed out some one time freebies for new homes and so on, and you can still get ’em under Trudeau.

But Harper’s handouts are nothing compared to the knee deep bacon grease filled trough Trudeau is serving up. Tens of thousands EVERY YEAR! Even if you didn’t build a new house!

A bro and I are keeping track since 2015 – we’re up $197 ,000.00 so far. Not a snowflakes chance in hell would we get that much if Harper were still running the show.

#152 Ronaldo on 02.26.20 at 1:16 pm

#112 Phylis on 02.26.20 at 8:33 am
It’s kinda like firsters. They exist, announce their claim with great pride (been there), yet know or have forgotten the rules and proceed to say the rules do not apply to them with circular reasoning. Why the obsession with firsting?
——————————————————————
Probably because they’re so used to coming last in everything they do. Wow, I’m first, whoopeedoo. Child mentality.

#153 Blacksheep on 02.26.20 at 1:20 pm

Don’t believe the conspiracy crap.

This is the straight goods, on Feb/25/20, from The Centers for Disease Control from the US Gov.

https://www.cdc.gov/media/releases/2020/a0225-cdc-telebriefing-covid-19.html

#154 NoName on 02.26.20 at 1:27 pm

Someone aksed other day where is lavida loca, i mean dolce vita.

He was spated in grocery store recently.

https://twitter.com/realHirsty/status/1232689668501753858

#155 Ronaldo on 02.26.20 at 1:34 pm

James

It is only the wealthy lethargic retirees that want to be sheltered up in their concrete bunkers watching tv all day that can meet the expense of the fees and don’t give a damn about their asset losses. Guess what in ten to fifteen years condos will be the most economical form of investment to pick up as boomers expire and leave their assets. Boomers losses our future gains.
==================================
As the oldest of the boomers, a condo was the 1st home I bought in 69 as well as others in my age group. It was because they were the most affordable.

We are well aware of all the problems associated with condo ownership having been der dun dat. Not something most of us are planning to do again contrary to what we continue to hear on this blog.

That may be wishful thinking for some of the anti boomers. I doubt even the GenXer’s will be interested in owning these things either.

As far as I’m concerened they are nothing but a financial
trap as many of the condo flippers are finding out today.

Big collapse in store for these things.

#156 Not So New guy on 02.26.20 at 2:01 pm

That’s gotta be DOUBLE what your neighbours to the East are paying!

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

Ya, I know.

It wasn’t so bad before. Before we were only paying 50% more. :$

And 200 miles south in the US the price is just over a buck after all conversions. They get their gas from some of the same refineries I’m told

There is the gas buddy app that will let you see gas prices all across Canada. We regularly pay at least 30 cents more

#157 bdwy on 02.26.20 at 2:17 pm

i’m looking for a beat down here….

kid is in victoria for school for the next few years.

850k for 6 bedrooms and a huge lot (huge by yvr standards) 12min bus from uvic.
move in ready.

20% down , 4.5k/mo rent covers mtge, ins, utils plus some extra.

leagl laneway houses may be coming. 1/4 ac lot.

victoria has a future?

#158 James on 02.26.20 at 2:53 pm

#156 Ronaldo on 02.26.20 at 1:34 pm

James

It is only the wealthy lethargic retirees that want to be sheltered up in their concrete bunkers watching tv all day that can meet the expense of the fees and don’t give a damn about their asset losses. Guess what in ten to fifteen years condos will be the most economical form of investment to pick up as boomers expire and leave their assets. Boomers losses our future gains.
==================================
As the oldest of the boomers, a condo was the 1st home I bought in 69 as well as others in my age group. It was because they were the most affordable.

We are well aware of all the problems associated with condo ownership having been der dun dat. Not something most of us are planning to do again contrary to what we continue to hear on this blog.

That may be wishful thinking for some of the anti boomers. I doubt even the GenXer’s will be interested in owning these things either.

As far as I’m concerened they are nothing but a financial
trap as many of the condo flippers are finding out today.

Big collapse in store for these things.
________________________________________
HundoP……….

#159 Blackdog on 02.26.20 at 2:59 pm

@#131, MikeTheEngineer re: “Warning to all ordering STUFF from USA to Canada via Canada Post. I recently ordered some STUFF from a vendor in the USA. The product was shipped via USPS. It arrived in Canada. Canada Post and Canada Customs has taken the package hostage. No product and no way to contact anyone. I just lost ~200 CDN. I don’t know if this has to do with the Virus or what…..I have never had product held up for more than a day or 2 tops, before being delivered. Canada Post has been good in the past, but now I have just lost a $200 package of STUFF and no way to get a refund or get my package. Is it the Virus? ”

Next time order your STUFF from BC. There are lots of great MOMs to choose from.

#160 Sail away on 02.26.20 at 3:17 pm

#157 Not So New guy on 02.26.20 at 2:01 pm

There is the gas buddy app that will let you see gas prices all across Canada. We regularly pay at least 30 cents more

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Teslas don’t use gas. And they’re awesome. Just sayin’.

#161 Not So New guy on 02.26.20 at 3:52 pm

Teslas don’t use gas. And they’re awesome. Just sayin’.

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

and for the extra you pay for the price of the vehicle, you can get free gas for quite a while

Plus gas vehicles are less flammable than a Tesla and don’t play seek and destroy with firetrucks

#162 Sail away on 02.26.20 at 4:37 pm

#162 Not So New guy on 02.26.20 at 3:52 pm
Teslas don’t use gas. And they’re awesome. Just sayin’.

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

and for the extra you pay for the price of the vehicle, you can get free gas for quite a while

Plus gas vehicles are less flammable than a Tesla and don’t play seek and destroy with firetrucks

——————————

Rent one for a week. Bet you change your mind.

#163 akashic record on 02.26.20 at 7:40 pm

#108 crowdedelevatorfartz
Barking at the wrong tree… I don’t care about “the non aboriginals are a polyglot of anarchist luddites”, we probably have the same view about T2, liberals and government debt in general.

#109 Sail away
Unlike your reference to Jews.

#113 Sail away
Revision of history is more likely if you don’t take the time and effort to study the subject

#115 SoggyShorts
The natives I am thinking about live in their entire tradition, culture, that identifies them over the history.
If this recognition makes me racist, so be it, I am comfortable with it.

#119 FLywest29
I would be broken too. What they say makes me listen, open my heart and love them.

#125 Lambchop
I base my opinion on who they think they are in the world, as far as their traditions go, related to everything else on this planet.
I don’t have unresolved guilt, I have great respect.

#129 Yukon Elvis
We don’t know enough about those times.

#130 Sail away
Lack of knowledge is not knowledge of the subject.

#135 Sail away
If Canada’s unresolved issues with the natives are too much to handle, the obvious option is to leave, where this annoyance doesn’t exist. Just as you are not sentenced to live in Toronto or Vancouver if it requires too much of a scarifies for you.

#137 Sail away
Interesting choice of word in the context. Luckily it doesn’t apply to you, you have all the choices to sail away if the situation is intolerable for you.

#150 Decent Majority
I know. Those imaginary people, their imaginary land and my entertaining ignorance make your wolf spirit howl.

#164 Doug in London on 02.26.20 at 10:24 pm

@YVR Expat, post #136:
So tell me Eks…what are we allowed to build in Canada?
—————————————————————-
Condos, what else does anyone need?

#165 Steven Rowlandson on 02.27.20 at 6:34 am

Expected income divided by obtainable interest rate on savings equals capital needed. How it that for an answer?

#166 Dogman01 on 02.27.20 at 11:13 am

The problem with getting older and retirement is you have used up your earning potential so can’t recover from misfortune: running out of money when you are mid 70….

“You can’t always measure the eventual outcome of an action by what has happened thus far. If a man jumps off a 45 storey building, nothing has really changed during the first 40 floor freefall, it’s the last few that make it interesting and we all know what the final outcome is.” – Warren Buffet

On the other discussion: our media is doing all of us a dis-service in this country. I would like to know what the path forward looks like for the Indigenous, if it is not resource development in the isolated communities then what is it?

“The Canadian left honours Indigenous people more as noble-savage protest mascots than as flesh-and-blood humans with real economic needs.”

#167 Panic on 02.27.20 at 2:21 pm

It’s very interesting to watch panic unfold
So for the record and you can look it up 3.500 Canadians die from the flu every year.
And yet people are selling stocks and getting out why?

And TSE just halted trading.,!