Amok

Well, things changed in a week. The little grocery store now has yellow caution tape creating an entry tunnel. There’s a sign saying capacity is 25 souls. The pavement is taped and marked ‘social distancing.’ Inside sits a security guard. “Travelled?” he asks. “Are you sick? Is anyone at home sick?” He holds a clipboard. Presumably the Names of the Doomed are etched thereupon.

There are no masks here. All faces are bare. A few people keep their gloves on. The cashiers now work behind a plexiglass barrier with a money hole punched in it. Shoppers are polite, but furtive. The shelves of cold remedies and cleaning wipes are bare. Miles of toilet paper, though. People repel from each other like reversing magnets, and you can tell that behind the fear they deeply regret it.

New water heater arrived this morning. Contractor buddy, plumber, apprentice and electrician shooting the breeze in the unpoliced sanctuary of my basement furnace room. Work is disintegrating. Jobs cancelled. Real estate going stone cold and renos with it. Cash flow’s a bitch. All have laid people off. Some young employees walked, too afraid to leave home. The old, experienced guys scoff. Life will come back, they agree. But it will be damaged.

Nothing is normal. Anywhere.

The last 24 hours brought overwhelming evidence of that. The federal government will be picking up 75% of the wages of small business employees who aren’t working, plus floating no-cost loans, partially forgivable. Before that announcement the Parliamentary Budget Officer said the deficit next year would be $112 billion (the highest before that was Harper’s $56 billion in the GFC). With the subsidy it should be $139 billion. And the feds have yet to bail out the oilpatch.

World crude prices, smashed by the virus and a war between producers, has gas down to 65 cents a litre. Canadian oil prices are apparently on their way to zero. At current levels ($5-6 a barrel US) every producer is losing. Storage tanks are brimming. Alberta is in full-on crisis mode. Oil is the nation’s biggest export, and it’s never been so worthless.

It’s crude as much as virus that led the Bank of Canada into the fray again Friday. Another emergency rate cut. Another half point. That brings us within a quarter point of zero. Cheap money won’t help consumer spending, since the stores are closed. It won’t do much for housing, as that market’s shut down, too. But it does make corporate debt cheaper, and the oil guys owe more money than God. The central bank also – for the first time – started buying up bonds, government securities and corporate debt. Five billion a week, every week, until the recovery comes.

So there’s the news. Mr. Virus runs amok in the US. National finances disappear into a black hole to support an ill-prepared people. And a collapse in energy values is 2020’s version of the Dirty Thirties dust bowl. Crisis upon crisis. No wonder people are avoiding eye contact, just in case that, too, makes you sick. This is all too much for folks to process.

I found this interesting tidbit on the mortgage site RateSpy. These are the biggest increases in Google home loan-related searches:

Meanwhile, after rocketing ahead 20% in a few sessions – the best performance in 90 years – stock markets ended the week in a funk. The ultimate outcome of these times is certain, as the wizened tradespeople in my basement know. Recovery will come. Markets get that. But there’s a lot of blood and guts to wade through in the meantime. As detailed here yesterday, the bulk of society was never ready for a rainy day, let alone a tsunami of Biblical proportions. It’s sad but inevitable the wealth gap will be far wider when this sucker has passed.

Now, a note to Bill Morneau, the finance minister, who follows this pathetic blog (according to his staff): time for Canada to mimic the US lead and let people access RRSP funds. Washington is passing a bill allowing folks to take up to $100,000 from their retirement plans, paying no tax as long as it’s repaid in three years. Anyone with the virus is eligible, along with those who have lost a job or need the money to look after kids or ill relatives.

Simple. Self-financing. Doesn’t add to the public debt. Immediate. Do it, Bill.

Finally, a note to the 3,360 federal civil servants with job security and defined benefit pension plans who staff the 317 Service Canada centres across the nation where folks go to apply for benefits in times of crisis: you deeply disappoint us. This week the government locked the doors of every single centre, employees on the inside, citizens on the outside after the workers refused to work.

The government caved. Worried families now have to spend hours on hold or navigate an overloaded, generic website. More stress.

If nurses, hospital cleaners, paramedics, doctors, cops, firefighters, grocery clerks and others on the front line can step up to risk when needed and toil in the teeth of a pandemic, you can at least sit in an office chair and help your neighbours.

Some things we will not forget, when the sun returns.

 

289 comments ↓

#1 Happy Housing Crash Everyone! on 03.27.20 at 3:18 pm

Happy housing crash everyone!

GTA housing crash will be 50% or more. All you people with multiple properties will be crushed.

1.2 million dollar detached house???? YEAH RIGHT 500k TOPS!!!

600k condo!!?? 200k TOPS!

ITS GOING DOWNNNNNNNNNNNNNNN

You have been warned!!!

#2 FortMacer on 03.27.20 at 3:23 pm

First

#3 crowdedelevatorfartz on 03.27.20 at 3:27 pm

Gee,
Unaccountable , Untouchable , Entitled govt employees that sneer at the very taxpayers that pay their salaries….
How surprising.

We wont forget.

#4 Dee on 03.27.20 at 3:29 pm

Garth there are people right now quitting jobs and also refusing work because Mr Trudeau will give them $2000 a month to sit at home instead. As long as he sells FEAR, everyone will stay home, and he remains in power. Look at his stimulated fiscal policy of about 4% while the usa and other countries are 10 – 12%. Nothing is being done to save our economy. So while we are all told to sit at home and sing Kumbaya, we buy Arab oil, while our oil companies go into the ground. Pretty sad

#5 TurnerNation on 03.27.20 at 3:32 pm

On Realtor.ca search for:

Muskoka, ON > Waterfront > Listed Since: Last week
Zoom out once. This could become an index.

Late last year I was always saying they want us trapped in cities; electric cars have no long range and no charging stations are being built fast.
Something to do with some UN plan..I dunno look it up yourself.
Right on cue in this crisis (well Climate Change was not working, likely the A.I. Detected too many skeptical opinions online):
https://www.bbc.com/future/article/20200318-the-worlds-largest-nature-reserve
Scientists and conservationists are proposing that up to half of Earth’s land and oceans be protected for nature.

– This also means we will be driven off the land, no farming. Shortages, man-made. Classic elites: ban travel and steal our land. Has any war not worked this way, ever?

#6 SHANE GALLANT on 03.27.20 at 3:32 pm

Garth, in times like this we should be able to get into our locked in funds without penalty or maybe allow for a certain dollar value amount.

#7 Nottawa Housing Bust on 03.27.20 at 3:33 pm

Garth,

Would love to hear your thoughts on BOC QE. Could this be driven by Bond ETF spreads below NAV? Interesting way to have price discovery on bonds.
The only thing I am wondering if we fire up the printing presses and paper over our problems, won’t this lead to a. Ridiculous amount of inflation. Thereby forcing rates up! This would cause a housing default tsunami as rising rates are just as bad as unemployment.
Seems to me cash will not be king in 6 months or a year, but the shiny stuff.

#8 Me on 03.27.20 at 3:35 pm

It sets a poor precedent to shame those with “job security and defined benefit pension plans”. Raise yourselves up, don’t knock others down. Locking the doors to prevent further spread to and from visitors makes sense. Many are now working from home anyway, several of those buildings have skeleton crews to receive clients anyway.

#9 Geoffrey Laudat on 03.27.20 at 3:41 pm

This is a strongly worded article, the gap between rich and poor at the end of this carnage will be epic. Mortgage brokers are uneasy at this time due to the banks and other lending agencies refusing to grant a mortgage to an employee whereby the Employer won’t guarantee employment in writing.

#10 Handsome Ned on 03.27.20 at 3:43 pm

The harvest is past, the summer is ended and we are not saved.

#11 Lost...but not leased on 03.27.20 at 3:43 pm

Finally, a note to the 3,360 federal civil servants with job security and defined benefit pension plans who staff the 317 Service Canada centres across the nation where folks go to apply for benefits in times of crisis: you deeply disappoint us. This week the government locked the doors of every single centre, employees on the inside, citizens on the outside after the workers refused to work.

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

Henry Makow’s blog makes note of this, that there may be a benefit to this fear porn.

People will actually make better life decisions, whether it be home schooling..boycott pro sports..eat healthier…etc. etc.

#12 stuck in Richmond on 03.27.20 at 3:44 pm

Thanks again Mr Garth for everything you do, for all those people you saved from financial ruin and millions in debt over the years. This effort is very much appreciated.
You are right about responsible savers being punished to bail out reckless financially illiterate idiots. It so reminds me Soviet Union, where I was unfortunate to grow up, same government paternalism, with people’s expectations of work, housing and cheap food provided by the government no matter of one’s input and contribution. But, like someone said; ” If one expects to be given money , taken from someone else, one should not be surprised if his/her money are taken, and given to someone else.”
Even 30 years later, those post Soviet countries are still royally screwed, and people’s mentality changes very, very slowly.

#13 SJP on 03.27.20 at 3:46 pm

Healthcare professional checking in here. Despite the woes in Calgary and Alberta in general we got your back guys and gals.

Apparently we are among the highest paid for what we do in the country. We are stepping up to this challenge, we will be there for Calgary, and we will prove our worth!

Just don’t laugh at the gowns. A lot of us look awful in yellow.

#14 FreeBird on 03.27.20 at 3:48 pm

Some humour…
https://youtu.be/sbPQCJtnT6o

#15 Stone on 03.27.20 at 3:49 pm

Finally, a note to the 3,360 federal civil servants with job security and defined benefit pension plans who staff the 317 Service Canada centres across the nation where folks go to apply for benefits in times of crisis: you deeply disappoint us. This week the government locked the doors of every single centre, employees on the inside, citizens on the outside after the workers refused to work.

———

I would say blame the bureaucrats in charge. They didn’t invest to provide the infrastructure for everyone to work and be served in a safe environment. They should fired for their lack of planning.

I predict the most in demand job in the near to mid term will be contingency/disaster planners. I foresee a drastic change in how people will be getting gouvernment services. The same for the private sector. I predict it will be mainly digital and will eliminate the need for most of those federal civil servants.

And no, I don’t work for the federal civil service. I just see the writing on the wall.

#16 Howard on 03.27.20 at 3:49 pm

Good lord. A new record death count in Italy today. 900+ in the past 24 hours. Dolce Vita, stay safe.

In other news, Boris Johnson tests positive. The treasonous globalist left wishes him death. Lovely people the left.

#17 Howard on 03.27.20 at 3:52 pm

Question for the board.

Going to go stock shopping next week. Which Canadian bank stock would you recommend? I understand CIBC is most exposed to the housing bubble so probably best to avoid. What about the others?

#18 Ed on 03.27.20 at 3:54 pm

Government employees already had our scorn…

#19 John on 03.27.20 at 3:55 pm

Thank you Garth, there are few voices of reason left. Fear is a very primal, basic instinct but it does not allow the brain to work properly. Surprisingly, people who have clinical anxiety are managing this storm well, they have tools to mange fear-based thinking. Others not not so.

#20 Phylis on 03.27.20 at 3:57 pm

#371 Chris on 03.27.20 at 12:39 pm Don’t feel bad about not getting the response you asked for. We voted on the topic already.

#21 Timoftrees on 03.27.20 at 3:57 pm

Shut my business down, so We’ve adopted oldsters on our street who need the help. We have church members going into the meth camps, for free, to bring food and essentials. My stay at home wife will volunteer at the hospital if things get real bad.

My wife’s sister has said she will call in sick until this blows over. Government. Full pay.

Go figure.

#22 Wkg on 03.27.20 at 3:57 pm

Gerald butts and Justin zoolander have quite a dilemma on their hands, bail out the very industry that they have been seeking to destroy, how will that fit into their no carbon vision for the country.
As for Morneau, even a red neck Alberta oil worker understands the importance of putting something away when times are good, but apparently trust fund billionaire s don’t. Now on the back of 4 years of big deficits when the economy was good, we are on the verge of the largest deficit in this countries history.

By the way bill, 3 years ago, small businessss were tax cheats, what changed?

#23 TN on 03.27.20 at 3:59 pm

Finally, we all hope there will be a housing crash. It won’t happen so fast because my realtor friend told me last night there was a house listed for $900, 000 with multiple offers, and it was sold for $1.1 million. People are still out there with a delusional mentality, thinking that everything will be fine in a few days.

#24 yvr_lurker on 03.27.20 at 4:02 pm

All Gov’t workers should be doing their jobs. Indeed. Moreover, we should give thanks to all of those who are on the front lines dealing with patients and all the Gov’t and private labs ramping up looking for a vaccine, studying the virus for some type of treatment. Have friends in the BC center for disease control who are pulling 14 hour days.

Some things we will not forget, when the sun returns. What we should not ever forget is how China’s blatant disregard for the danger of the live animal trade has sent a fireball through the world. It is not the Wuhan or Chinese virus, but the western world needs to social distance from that place going forward. This we should not forget and it is by no means a racist comment.

#25 TRUMP2020 on 03.27.20 at 4:04 pm

HECK are them 3 dogs doing???

#26 FreeBird on 03.27.20 at 4:04 pm

Shout out to my/our family Dr and clinic @St Michael’s Toronto. Avail remotely. Thx Dr R. (won’t give her name).

Also to obv one of very few CRA/public staff working from home by cell (in her basement w/kids). Forgot your name but thx for your help today. Maybe you’ll inspire co-workers…or not.

#27 Andrewski on 03.27.20 at 4:07 pm

Re: FortMacer. Wait she sighs from behind her N95, did you come first again?!

#28 JSS on 03.27.20 at 4:08 pm

So what are the wealthy Canadians doing (or buying) during this time of crisis?

#29 Blair on 03.27.20 at 4:08 pm

The people I most feel for are at the checkouts in the supermarkets and pharmacies working for minimum wages.

#30 Stylite on 03.27.20 at 4:13 pm

I was introduced to this blog a year or two ago. Markets were up and it did not want to look back. The message was all about not making dumb decisions and to keep investing. Here we are, the day we have all been waiting for. Slapped right in the face, which may become a fist fairly soon. Still, I look forward to where this next chapter of the blog takes us. Thanks for the wisdom Garth.

#31 CJohnC on 03.27.20 at 4:16 pm

Gas is still $105.9 in Ladner BC

#32 JacqueShellacque on 03.27.20 at 4:18 pm

So our public service unions would pull the plug right when the citizens they purport to serve need them the most. I think that’s a great argument for smaller government, and I hope people begin to realize they can’t count on big gov when they need it.

#33 BC Interior on 03.27.20 at 4:18 pm

I wonder how all the people who bought
Canadian real estate in blind auctions and who used bully offers to “win” feel right now. Cue the slow clap. Those times will go down in university market psychology text books as classic examples of hubris. Enjoy the ride down.

#34 Zed on 03.27.20 at 4:19 pm

Great idea for the Finance minister that you bring forward. One more would be to reduce the pay of the civil servants that are not health care providers or first responders and public service pensioners by 20% for one year. We are at war with that virus, we have to pay for it, all of us together.

Uncertainty for so many people in the country, share some of the pain.

#35 Fasa on 03.27.20 at 4:23 pm

75% wage subsidy is an ALL IN move by the government! As a Conservative I cannot say I am happy about the impacts this will have on my taxes in the future but as a Canadian could not be more proud…the rising tide lifts all boats and hopefully this buys us all time.

Service Canada employees, as a public servant your job is to serve those that pay your salary and closing all your centres while you ask others to serve is disappointing…quoting GOT walk of atonement “SHAME SHAME SHAME”

#36 CJohnC on 03.27.20 at 4:24 pm

Maybe we should fire all the Service Canada prima-donnas and replace them with the poor souls working for places like 7-11 at minimum wage. Then you would get people willing to work

#37 Shorty on 03.27.20 at 4:25 pm

Happy housing crash everyone!

GTA housing crash will be 50% or more. All you people with multiple properties will be crushed.
___________________________________________

Not sure what you’re smoking but do you mind sharing? Could use something in these times.

Whoever thinks housing is going to crash by 50% is delusional. It’s not like the stock market where you’re down 10% one day and 20% another. Housing is emotional. People would rather skip a meal everyday than part away with their house.

There’s going to be an impact to housing. As people scramble for cash to pay mortgage for their “investment” properties and airbnbs, there’ll be a flood of listings on the market. There’s not going to be enough buyers on the market

It’ll be a slow and painful correction of not more than 10-20%. There’s so many buyers sitting on the sidelines waiting for an opportunity to pounce as soon as houses become slightly more affordable. These buyers are going to ensure the market doesn’t go into a free fall like stocks do.

If you want to see a 50% crash, you might have to wait for more free money and no stress tests. The masses will do the rest for you.

#38 SmarterSquirrel on 03.27.20 at 4:25 pm

Several people have asked what I would do now. Would I go fully to cash now? Partially to cash now?…

I have no idea really. Now that we are already so far down it’s a riskier proposition. And I’m not a financial advisor. All I know is my paranoia got me out of the market and into cash when I saw the pandemic coming and I’m not investing back in until I see the pandemic has peaked in North America in terms of a steady decline in new daily cases and new daily deaths. Which probably won’t happen for a while given Italy just had it’s highest day of covid19 deaths today despite some thinking it had peaked already. I may miss the bottom by doing this but I just wanted to get out of the way of a pandemic. So I’m sticking with that plan.

If you were to cash out today and suddenly it was found that a treatment has been found that works or by some miracle the timeline on a vaccine has been shortened and markets rapidly advanced, how would you feel?

I was one of the ones that plans to buy back in in Garth’s survey but I was also one of the ones that thinks a Great Depression 2 could happen. Unemployment hit 20% in the great depression but people with means could still travel and go out for dinner and movies and could still go to work if they had work. Seems very different today given all those options are shutting down and to me, 20% unemployment seems quite likely.

So maybe markets tank a lot further from here. Anything can happen, no way to really know.

I do think people need to do what they can if they can to ensure they have cash to last them a long while so they can keep feeding their family for a good number of months. If you don’t have that cash, then maybe you’d want to go to enough cash from your investments to allow for that. But given Garth’s comments on accessing RRSP, it seems he agrees with that approach as well.

If I had no cash to take advantage of an eventual lower bottom on the market, then I’d probably raise some cash to be able to buy in later. But priority would be raising cash to take care of family at this point. And if you follow the balanced approach Garth advocates then you’d be shifting from bonds etc into equities as equity values drop, so you’re already in a strategy that allows you to acquire equities as their values drop.

Either way, I’m quite certain we will eventually get back to where we were in the markets and then go beyond as has happened throughout history. So if you have a long time horizon, no harm in staying invested at this point. But if you need the cash now, raise some cash.

#39 some guy on 03.27.20 at 4:27 pm

Government workers do not understand what its like to be laid off or not have any job security. They live in an entiteld bubble.

#40 Linda on 03.27.20 at 4:27 pm

Frightened people do not the best decision makers make. The civil servants (as per my last visit to a centre) are at least 3 or more feet away from the body or bodies on the other side of the desk/plexiglass. Though one wonders whether those centers were keeping to the rule limits on who could be in the centre at any one time prior to refusing to work. 1 million plus applications presumably mean a whole lot of visitors. Plus, are there available supplies like gloves, masks or wipes to keep surfaces germ reduced if not germ free? No more than 50 people (or is it 25?) at a time – I can just imagine the upset if forced to stand out of doors (it is still cold outside) waiting to get through if the limit had been reached. Or the shrieks of outrage if even one single person caught the virus from one of those government employees. Better to add banks of phones & get more people answering them to reduce the call times. No need to travel to/from, using resources one may not have the money to pay for or, lord help us, taking public transit. Throw in the not unlikely scenario of children having to be brought along as none of the little tykes are in daycare/school. Oy. You just know having to go potty ‘right now!’ would be an issue. At least you can toss the kid onto the toilet at home while you wait on the phone.

Talk about competitive. The USA just had to be number 1 in infection rates & presumably will eventually claim the #1 spot for deaths as well. Markets will not respond well to being number one for either scenario, for sure. Hope the beach & Mardi Gras partiers enjoyed themselves. Seems a high price to pay for a party, though.

#41 paddy on 03.27.20 at 4:29 pm

Deferral meaning??? Up 950%….people don’t know what that means???……OY VEY!!!!!

Perhaps they should be looking up “debt meaning” as well……..”Honey, google says debt is something that is owed or due”………”Hun, if i’m reading this correctly, i think we’re supposed to pay back that money we borrowed from the bank????”

#42 JSK on 03.27.20 at 4:29 pm

One thing you will notice is that everything post-crisis will slow down. Disrupted supply lines, rising maintenance overhead, lack of spare parts will mean everything will have to be done with conservation in mind. Forget fashion driven factory-to-landfill consumerism. Most important question when buying an item will be: “How long is it going to last?” The way it should’ve been all along, before we invented planned obsolescence.

#43 Day12 on 03.27.20 at 4:30 pm

At this rate, T2 is going to surpass his dad as the greatest Canadian prime minister ever… at racking up debt (inflation adjusted of course).

#44 45north on 03.27.20 at 4:32 pm

i>World crude prices, smashed by the virus and a war between producers, has gas down to 65 cents a litre. Canadian oil prices are apparently on their way to zero. At current levels ($5-6 a barrel US) every producer is losing. Storage tanks are brimming. Alberta is in full-on crisis mode. Oil is the nation’s biggest export, and it’s never been so worthless.

peak oil is the idea that the cheapest, best oil has already been found.

Matthew Simmons wrote a book “Twilight in the Desert” in which he predicted a global oil crisis. He was wrong. New technology allowed the United States to produce more oil by fracking. But the underlying thesis is correct – there is a limited supply of oil.

Canada should invest in oil, in Canada – production facilities, pipelines, refineries. To have a reliable source of petroleum products for Canada. To put Canadians to work.

We need to make the right investment decisions. Consumption has dropped. The real estate market has dropped. What are we going to do? It used to be investment was a no-brainer – railways, farm machinery, roads, St Laurence Seaway, grain elevators, subways. I remember 1967 – the huge expansion of Highway 401 in Toronto – construction as far as the eye could see. There was common agreement on infrastructure investment. The other thing is that the investment paid off – it led to an improvement in people’s lives.

Our present leader Justin Trudeau is big on investment but what kind of investment? Will it pay off?

Investment in oil and the petro chemical industry will pay off. It will make people’s lives better.

Disclaimer: I am not involved in the oil industry. Nor is any member of my family.

#45 Dave on 03.27.20 at 4:34 pm

“Finally, a note to the 3,360 federal civil servants with job security and defined benefit pension plans who staff the 317 Service Canada centres across the nation where folks go to apply for benefits in times of crisis: you deeply disappoint us. This week the government locked the doors of every single centre, employees on the inside, citizens on the outside after the workers refused to work.

How can you blame them ? A lot of other people would resufe to work, believe me, if they had the choice. Many are still working because they have no options. Besides, they are not an essential service.

#46 Lost in Oakville on 03.27.20 at 4:35 pm

Properties still selling like hotcakes here in GTA. DOM averaging 2-3 days for most properties. There are a few suspended and cancelled ones but quite a few new listings. Curious to know who’s buying.

#47 Francis on 03.27.20 at 4:35 pm

“Some things we will not forget, when the sun returns.”

Civil servants that are pay to do nothing and government that caved will not be part of those things.

#48 Penny Henny on 03.27.20 at 4:36 pm

Now, a note to Bill Morneau, the finance minister, who follows this pathetic blog (according to his staff):
//////////////

I wonder if he reads the comments.

#49 Oracle of Ottawa on 03.27.20 at 4:37 pm

Well interest rates are near zero and only one way to go. Good for ZPR? Somebody will have to pay for the binge spending at some point. Me thinks inflation is going to rear it’s ugly head again. To pay for the debt the Gov’t is going to have to raise taxes or print more money.

#50 Madcat on 03.27.20 at 4:37 pm

Well said.

Unbelievable times…

#51 The real Kip (Ret) on 03.27.20 at 4:41 pm

Meh, no big deal. Welcome to the new normal.

#52 Franco on 03.27.20 at 4:42 pm

Anyone taking delight in this current downturn should be ashamed of themselves, like post #1.

#53 Yukon Elvis on 03.27.20 at 4:42 pm

Looking good for Justa Trudolt. On TV every morning, giving away billions of dollars we don’t have. A shoe in for a third term.

#54 Attrition on 03.27.20 at 4:42 pm

People repel from each other like reversing magnets, and you can tell that behind the fear they deeply regret it.

From one writer to another, you sir write real good. Real good. What an evocative metaphor.

#55 Wait There on 03.27.20 at 4:43 pm

I noted a couple things today, both the younger tradespeople and generally mainly younger people in the offices bolted.
That is indicative of youth that have been too sheltered.

Another thing to understand is that the makeup of a government employee is no risk employment.

We NEED the younger ones to go back out first. Garth, if you haven’t realized, we are in trouble. They are SCARED as hell. They have the lowest CFRs. The world depends on them. They are shellshocked. But they sure can tweet and Facebook nasty comments.

Part of the problem we actually have and I will say this over and over. We NEED masks for everyone. If everyone wore masks ( Not the N95 types) there would be no need for N95 for the general population. We could still slow the spread and have an economy limp along. Asymptomatic people will not infect others because the droplets would be contained. The BIG PROBLEM is from the start we were told masks are useless. We dug a BIG hole for ourselves.

Wonder why everyone in South Korea, Taiwan and China wore masks and not necessarily N95s. If we had started equipping the population with masks from the start, the peak would not be so high but the only sane way to get out of this is to have young people wear masks and practice physical distancing , washing etc. and go back to work at the appropriate time in a month or so. The gauge will be the hospital capacity. There will be casualties but someone in charge has to make that call.

#56 Andrew on 03.27.20 at 4:44 pm

Well said. What is going on in North America when it comes to mask use is tragic. Mask use helps prevent spread dramatically. Telling people not to wear masks because they are needed by those on the front lines I am in total agreement with, we need a chain of necessity for them and the general public is last. BUT telling people mask use doesn’t help prevent spread so don’t wear them even if you have them is absolutely ridiculous.

#57 Jake on 03.27.20 at 4:45 pm

Garth, just wondering does this mass exodus into money market funds mean the bottom could be close? I believe this sort of thing peaked at the bottom of the GFC in March 2009.

https://www.axios.com/money-market-funds-inflows-largest-for-second-straight-week-f2c1acb5-6ff2-40fb-af86-af02916cbf5b.html

#58 Dolce Vita on 03.27.20 at 4:47 pm

I have to tell you that you are at your very best in times of extreme crisis.

Reminiscent of a UK WWII leader (think cigar).

Don’t blush or pull indignation on me Turner, it’s the truth.

#59 Lefty on 03.27.20 at 4:48 pm

Tank or tankless water heater?

#60 Franco on 03.27.20 at 4:48 pm

I just cannot see an end to this anytime soon, unless we decide that hospitals will only take people with health issues that do not involve the virus, if you survive great and if not oh well too bad, does not sound to appealing to me, so who knows, we may just create a depression as this give away money will eventually run out. Hoping for a treatment or vaccine, but that is still a year away. We will eventually get out of this, but does anyone have an idea of what the damage will be when it’s all over?

#61 newinter on 03.27.20 at 4:48 pm

When most ants in the hill owe each other a crumb and just pass a crumb from one to another, what happens when just 10-20% don’t have crumbs?

#62 bdwy on 03.27.20 at 4:51 pm

New water heater arrived this morning. Contractor buddy, plumber, apprentice and electrician shooting the breeze in the unpoliced sanctuary of my basement furnace room
————————

A crew of 4 guys for a water heater? You get the deluxe service when your a bigshot I guess.

It took me about an hour to swap out mine but i already had the tools.

You want me to install a water heater, or write this blog and do my job? But you sound manly. – Garth

#63 Penny Henny on 03.27.20 at 4:52 pm

Thought you might like this Garth, facial recognition for lost dogs.

https://www.wsj.com/articles/pet-facial-recognition-helps-find-lost-cats-and-dogs-11585215003?mod=djemfoe

#64 Online reources on 03.27.20 at 4:54 pm

Its time the government’s online resources were better. Seriously, they are terrible.

I completely understand why they don’t want to come to work!

“There were altercations at Service Canada Centres in Ontario, Quebec and B.C. after frustrated applicants became aggressive and violent, she said. In some instances, she said people coughed deliberately on staff.”

https://www.theglobeandmail.com/politics/article-ottawa-considers-shutting-down-service-canada-centres-as-employees/

#65 bdwy on 03.27.20 at 4:58 pm

#1 Happy Housing Crash Everyone! on 03.27.20 at 3:18 pm
Happy housing crash everyone!

GTA housing crash will be 50% or more. All you people with multiple properties will be crushed.
————————-
ummm, they are the ones with the $$$.
most houses are paid for, or close.
we have a few properties, the last mtg payment was in 2009

With $6,000,000,000,000+ carpet-bombing the economy expect houses to double once the beerbug has passed.

Taxes too.

#66 Dolce Vita on 03.27.20 at 5:01 pm

What makes this economic crash so unique to me is the voracity and speed of EI, 4 MM applying to go on the dole.

They way it has gone is that unemployment peaks just after GDP corrects, recession in theory over.

Here is the early 80’s recession (4 month lag at least between +GDP growth and persistent high unemployment):

https://i.imgur.com/zXnovqj.png

It’s like everything is moving in fast forward yet being compressed in Nano-time.

Instead of gradual (plus and minus) we’re getting minus all at once and this will persist until people feel safe and no longer fear.

Depression and for a year…at least.

#67 BJ on 03.27.20 at 5:02 pm

“If nurses, hospital cleaners, paramedics, doctors, cops, firefighters and others on the front line can step up to risk when needed and toil in the teeth of a pandemic, you can at least sit in an office chair and help your neighbours.”

Thanks for saying that Garth. Absolutely!!!

#68 Faron on 03.27.20 at 5:02 pm

“Washington is passing a bill allowing folks to take up to $100,000 from their retirement plans, paying no tax as long as it’s repaid in three years. Anyone with the virus is eligible, along with those who have lost a job or need the money to look after kids or ill relatives.

Simple. Self-financing. Doesn’t add to the public debt. Immediate. Do it, Bill.”

Horrible idea! May not add to the debt now, but there will be that many more struggling at retirement and likely being squeaky enough to force public assistance. Also, think about how much opportunity cost that will have for these folks in the long run. That 100k could very well be 300k half a decade from now.

Those with large portfolios would be hit the least as their proportional RRSP balance will change little compared to those who are young or poor savers. Yet they will net a huge tax benefit if they can show they were impacted by the virus somehow.

If enough liquidity exists, How about low interest loans backed by the RRSP? People’s portfolios won’t take a hit at exactly the wrong time and lenders can rest easy that the loan is collateralized against assets that will almost certainly explode in value over the next year or two. This would force a lock on people’s RRSP which would probably be a good thing to help keep folks from monkeying with their portfolio when they shouldn’t. Gov’t can even buy those loans off the banks and likely make money off of them in the coming years akin to how the US Fed did pretty well with many of its distressed asset purchasing during ’08.

Finally, the RRSP is already designed to work well when drawn upon when income is lower than average. If your income is down and you spend carefully from your RRSP then you’ll pay very little tax in the end.

#69 Wrk.dover on 03.27.20 at 5:04 pm

Loch Ness three headed hydra

#70 Adios on 03.27.20 at 5:05 pm

Karma is a bitch and a double dose is due to these
spineless snivel servants.

#71 Jake on 03.27.20 at 5:06 pm

No one says it better than you, please twitter your words so everyone can share this further and make it count!

“A note to the 3,360 federal civil servants with job security and defined benefit pension plans who staff the 317 Service Canada centres across the nation where folks go to apply for benefits in times of crisis: you deeply disappoint us. This week the government locked the doors of every single centre, employees on the inside, citizens on the outside after the workers refused to work.

The government caved. Worried families now have to spend hours on hold or navigate an overloaded, generic website. More stress.

If nurses, hospital cleaners, paramedics, doctors, cops, firefighters and others on the front line can step up to risk when needed and toil in the teeth of a pandemic, you can at least sit in an office chair and help your neighbours.”

#72 Lead Paint on 03.27.20 at 5:06 pm

Not fair to the civil servants, they just wanted a safe workplace. Give them gloves and masks and some security guards like doctors and nurses have, then they would work.

#73 45north on 03.27.20 at 5:06 pm

first, sorry about the mismatched html on the last post

so call centres are busy

maybe call centres can be our new investment strategy?

#74 Paully on 03.27.20 at 5:07 pm

100% agree with you about the Service Canada un-civil, non-servants. Shameful.

#75 Lore on 03.27.20 at 5:07 pm

We have too much government. Cut spending, eliminate taxes, get out of the way and let markets work. It’s an old, old lesson, always suppressed by each generation of smartypants who think they know better, invariably adding to the misery of those around them — but that’s okay, because if they’ve gotta be miserable, EVERYbody should be miserable, right? It’s the statist’s mantra: “Spread the misery.”

#76 Broke Renter Avocado Toast on 03.27.20 at 5:07 pm

Will rents go down in Toronto? This is the question that is on everyone’s mind, or will Trudeau help prop up the bubble via free money to pay for rent?

#77 AntMan on 03.27.20 at 5:07 pm

Anyone who’s ever played chess at all seriously knows if you’re not looking at least three moves out you’ve lost. People transfixed by the current markets remind me of rabid wood pushers looking to see if they can grab a piece on their next move. Make no mistake, a larger game is at play. We saw the opening gambit of this government in 2017 with their clumsy and hamfisted assault on small business. This gambit was ultimately rebuffed but the strategy was only moved to the back burner, not abandoned. No one should believe that Castros bastard (philosophically speaking), a man in thrall to an angry teenage girl who stridently promotes the destruction of capitalism as a virtue, has changed his ultimate goals. After a series of largely empty moves in the middle game fortune has intervened. And lo, a crisis was delivered to the players and witlessly exacerbated by us. This gift will not be squandered. Make no mistake, the end game will become clear in the coming months. Taxageddon will be upon us, the rentiers will be vanquished and society will be rid of all that pesky inequality once and for all. Of course there is a chance that this end game too will be rebuffed. But I doubt it. Venezuela is calling. The herd will heed the call and the brave, no matter how chiseled their abs, will be trampled by the stampede.

#78 Dave on 03.27.20 at 5:08 pm

Other than essential services, who wouldn’t refuse to work because of the China virus?

#79 just a dude on 03.27.20 at 5:09 pm

Garth,

Another great post. Thank you.

I hope the good citizens of Canada will also not forget what the liberals callously tried to slip into legislation earlier this week:

https://www.washingtonpost.com/opinions/2020/03/27/trudeau-learns-lesson-grabbing-power-during-pandemic/?hpid=hp_no-name_opinion-card-b%3Ahomepage%2Fstory-ans&itid=hp_no-name_opinion-card-b%3Ahomepage%2Fstory-ans

#80 akashic record on 03.27.20 at 5:09 pm

“a note to the 3,360 federal civil servants with job security and defined benefit pension plans who staff the 317 Service Canada centres across the nation”

They probably saved the public purse from a class-action suit and a hefty settlement with the government. Years later, when the verdict is delivered, this whole thing is forgotten and the supreme court would find that the government unlawfully forced non-frontline workers, blah, blah, blah.

If Omar Khadr was offered 10 million “to avoid the public for paying more”, imagine the settlements for life-threatening sickness , god forbid, passed away employees.

#81 leebow on 03.27.20 at 5:09 pm

And the a-holes closed all conservation areas. Of course, that’s where people get infected. What’s next? Burn down Algonquin and close the tap on Niagara Falls?

#82 Sail away on 03.27.20 at 5:10 pm

Ode to Garth:

‘In every game there’s a man who knows it all.
And in every game there’s a man who tells all he knows.
How rare to find both men one and the same.’

-Bill Tarrant

#83 Pete from St. Cesaire on 03.27.20 at 5:10 pm

Good news from the U.K. at least. They have downgraded the severity of Covid-19 to being a disease NOT of high consequence: https://www.gov.uk/guidance/high-consequence-infectious-diseases-hcid

#84 Wrk.dover on 03.27.20 at 5:11 pm

I meant the picture, probably.

#85 45north on 03.27.20 at 5:14 pm

Finally, a note to the 3,360 federal civil servants with job security and defined benefit pension plans who staff the 317 Service Canada centres across the nation where folks go to apply for benefits in times of crisis: you deeply disappoint us. This week the government locked the doors of every single centre, employees on the inside, citizens on the outside after the workers refused to work.

It’s not the civil service in which I worked for 40 years.

There’s an irony here: the government has told the public, it’s there to help them but at the same time it has locked the doors to keep them out. This is not the equalitarian movement that Justin Trudeau claims he is leading. It is elitist and hierarchical – those closest to the top have the greatest privilege.

#86 Marco on 03.27.20 at 5:15 pm

Well, about oil..
There is no spat between Russians and Saudis. This is Russian way to destroy fracking oil industry of USA.
Canada just collateral damage. Russia under sanction, their pipeline sabotaged by western allies but still can throw the punch. Russian barrel between 8 and 12 dollars. They can live with market price of 20 to 25.
Print money and be angry.

#87 Sail away on 03.27.20 at 5:15 pm

#25 TRUMP2020 on 03.27.20 at 4:04 pm

HECK are them 3 dogs doing???

————

What happens in the mudhole stays in the mudhole.

#88 Doug t on 03.27.20 at 5:17 pm

People show their true colours at times like these – the good the bad and the ugly

#89 Dolce Vita on 03.27.20 at 5:19 pm

#11 Howard

No worries and thank you.

Deaths concentrated in the Lombardia, Veneto and Emilia Romagna regions. I live in Friuli Venezia Giulia (FVG) region which incidentally, has the lowest infraction rate when it comes to observing COVID-19 decrees in all of Italia (stay inside, etc.).

Actually, the rate of positive cases increase HAS GONE DOWN for days now in Italia. N. American MSM prefers to report on the negative and macabre which is not a good thing. That only creates more fear and it is the opposite of HOPE.

Positive cases incr/decr including today’s data for Italia:

https://i.imgur.com/ygjkcVG.png

And our testing (tests/100K population) is almost as high as that of #1 S. Korea (652 per 100K, S. Korea at about 700).

There is HOPE after all Canada.

But stay inside and do what the health authorities are telling you to do (and our Blog Author).

#90 paul on 03.27.20 at 5:21 pm

Canada Customs set all the pregnant officers home with pay.

#91 MF on 03.27.20 at 5:21 pm

“The old, experienced guys scoff. Life will come back, they agree. But it will be damaged.”

-You got that right. Actually it was damaged to begin with. Now it’s beyond repair.

Maybe the fed will drop interes rates to -10% to save us.

MF

#92 bdwy on 03.27.20 at 5:22 pm

Just don’t laugh at the gowns. A lot of us look awful in yellow.
———————–
these days anyone in a yellow gown looks like only one thing.

a superhero.

#93 jess on 03.27.20 at 5:26 pm

“contains relief from a new accounting measure that would have forced these banks to take proper loan loss reserves.

“The measure is called Current Expected Credit Losses or CECL (pronounced Cecil) stimulus bill contains this passage:

“(b) TEMPORARY RELIEF FROM CECL STANDARDS.—Notwithstanding any other provision of law, no insured depository institution, bank holding company, or any affiliate thereof shall be required to comply with the Financial Accounting Standards Board Accounting Standards Update No. 2016–13 (‘Measurement of Credit Losses on Financial Instruments’), including the current expected credit losses methodology for estimating allowances for credit losses, during the period beginning on the date of enactment of this Act and ending on the earlier of— (1) the date on which the national emergency concerning the novel coronavirus disease (COVID–19) outbreak declared by the President on March 13, 2020 under the National Emergencies Act (50 16 U.S.C. 1601 et seq.) terminates; or (2) December 31, 2020.”

Accounting firm Deloitte reported previously that the accounting rule that the Senate just waived “covers all financial assets and not just loans.” So this was, perhaps literally, a get out of jail free card for some of these banks.

#94 Sail away on 03.27.20 at 5:27 pm

Fantastic spring weather, by the way. Good things are happening:

Caught a 7 lb rainbow on a chironomid this morning, so trout for dinner… and my new hunting dog has been born.

8 pups. Zero social distancing. They’re all wrapped around each other as pups do. Can’t wait.

#95 akashic record on 03.27.20 at 5:29 pm

“Do it, Bill.”

If it was just about finance, he would.

But Bill is well aware, that people in Canada, where wages were basically stagnant during the unprecedented run-up of the stock market, people won’t be able to repay their RRSP within 3 years. Not from wages, which are virtually guaranteed to be frozen now for an other decade.

If Bill would not know that, his boss will remind him, that there is finance and there is politics.

Unless…

Unless people don’t use the tax-free RRSP money for economic survival, but they transfer the funds straight to their unused TFSA to invest every penny of it on the stock market. Then they actually had a chance to pay back their RRSP in time, and even keep some…

That’s what Bill and his boss should encourage, for everyone, whether they got sick or laid off.

Let people profit from the fierce recovery, which is guaranteed to come, or so you say.

#96 bdwy on 03.27.20 at 5:34 pm

One more would be to reduce the pay of the civil servants that are not health care providers or first responders and public service pensioners by 20% for one year. We are at war with that virus, we have to pay for it, all of us together.
———————
YES YES YES! Are you listening BILL?

give the extra to the workers who are helping (healthcare, etc.)

make it -30% for service canada.

#97 Penny Henny on 03.27.20 at 5:37 pm

#66 Dolce Vita on 03.27.20 at 5:01 pm
What makes this economic crash so unique to me is the voracity and speed of EI, 4 MM applying to go on the dole.
/////////////

Dolce you’re a smart guy, what do you expect when businesses are told to close immediately

#98 crowdedelevatorfartz on 03.27.20 at 5:37 pm

@#62 bdwy
“A crew of 4 guys for a water heater”

++++

The water heaters on the East coast are sometimes oil burners, or propane with the accompanying attached fireboxes….. or they are (hopefully) electric.
The oil burners are the heaviest beasts.
Either way
Carrying one full of rust, mud and crud up a set of narrow, rickety wooden stairs from an old house basement is hardly what I would ask one person to do… let alone two….
If you’re by yourself and have to struggle….lots of luck.

#99 Government Worker on 03.27.20 at 5:39 pm

As a federal employee (not Service Canada), doing work that is deemed an essential service, I have to say we are continuing to work as much as possible within the restrictions put on us by our employers. Some of us have more or less been shut down by the upper brass. I’m curious as to what the whole story with the Service Canada folks is.

#100 Loonie Doctor on 03.27.20 at 5:39 pm

#72 Lead Paint on 03.27.20 at 5:06 pm
Not fair to the civil servants, they just wanted a safe workplace. Give them gloves and masks and some security guards like doctors and nurses have, then they would work.

——————————————————————
That would be reasonable if gloves and masks were in unlimited supply. Unfortunately, they aren’t and will likely be one of the first shortages on the front line. The doctors and nurses will need those masks and gloves for higher-risk procedures than talking to someone.

In this type of situation, you unfortunately need to prioritize. Protective equipment for the highest risk procedures and to protect those who will then go on to save more lives directly by doing those procedures. This is a change of thinking for many. It is easy when we have unlimited resources and not when we must rationally ration the best we can. Ultimatums are unhelpful in that setting. I won’t be responding to any rebuttals. I have to actually get back to planning how we will look after this type of issue in real life the best we can. Not joking.
-LD

#101 not 1st on 03.27.20 at 5:39 pm

The progressives wanted the patch shut down Garth, now they got it. With a -5% GDP we will meet our paris targets like nothing now. SWJ should enjoy the view after returning to their parents basement.

If Morneau reads this blog, then read this. You still have a stupid carbon tax sitting on Canadas main industries. Rising April 1. Are you seriously daft or just tone deaf. That carbon tax is going onto agriculture as well. At the end of this do you still want to eat or is a self induced global famine the next brilliant policy to come out of your high school team.

#102 Penny Henny on 03.27.20 at 5:40 pm

#68 Faron on 03.27.20 at 5:02 pm
“Washington is passing a bill allowing folks to take up to $100,000 from their retirement plans, paying no tax as long as it’s repaid in three years. Anyone with the virus is eligible, along with those who have lost a job or need the money to look after kids or ill relatives.

Simple. Self-financing. Doesn’t add to the public debt. Immediate. Do it, Bill.”

Horrible idea! May not add to the debt now, but there will be that many more struggling at retirement and likely being squeaky enough to force public assistance. Also, think about how much opportunity cost that will have for these folks in the long run. That 100k could very well be 300k half a decade from now.

If enough liquidity exists, How about low interest loans backed by the RRSP? People’s portfolios won’t take a hit at exactly the wrong time and lenders can rest easy that the loan is collateralized against assets that will almost certainly explode in value over the next year or two.

?????????????

Faron makes some good points.

#103 Peter Courtney on 03.27.20 at 5:45 pm

Govt employees have always been disgusting vermin. I can’t think anyone is suprised at their LOYALTY!!

#104 not 1st on 03.27.20 at 5:45 pm

#16 Howard on 03.27.20 at 3:49 pm
—-

The one with the biggest US operations (ie crosslisted to NYSE), forget Canada, we are long term toast.

#105 Grunt on 03.27.20 at 5:49 pm

Say Garth thanks for the blog and keeping it going. Very prudent of you to smarten us up with the future cost and fallout of C19.

My beef today is teens on cells. Just been out for groceries down here at Bloor/Yonge. They walk around oblivious to social distance. It seems no effort is made.
I guess they don’t care since its not their demographic that’s dying. Sometimes I wish the cops could grab their phone and leave them without for 2 weeks. Can’t think of a more fitting punishment.

If we could all keep 6ft distance for 2 weeks this virus would die out.

#106 TurnerNation on 03.27.20 at 5:49 pm

Oh yes all that Health Theatre – going on worldwide – all at the same time by happenstance is part of the plan of making it SO inconvenient interacting and going outside, that we stay inside, focused on the tele-screens and their horrific messages , and order Online.
Remember. No more small businesses allowed. Only dependence upon government – handouts and UBI. The perfect global slave population.
And it been only weeks – wait till the end of the year see what they have planned…like..like a science fiction movie. Predictive Programming its known as.

#107 Dolce Vita on 03.27.20 at 5:50 pm

#13 SJP

My heart goes out to you (and hey, it could have been fuschia and not yellow).

I’m sure you have been bracing for peak and I do not envy you a bit. There have been some “tear you heart out” stories from healthcare workers here in Europe. I have been following them closely.

Here is 1 that struck a raw nerve for me.

1. Young UK Doctor just before the virus hit the UK hard & wondering what it will be like, he reads a Tweet from a colleague in Italia (I FF’d to that point in his YouTube video blog):

https://youtu.be/3A6s-6LLWZI?t=408

2. and today, from a Doctor in Spain, Madrid that broke down in tears, unconsolable…a healthcare system on its knees. He explained how bad it was (e.g., having to decide who to intubate, and who not to intubate…the latter means death & having to decide that many, many times over every day), lashed out at his Gov, etc.

The video has been removed from YouTube…just as well, it was too painful to watch.

——————————————

And be as safe as you can, here in Italia 16% of the positive cases are healthcare personnel. But I’m sure you knew that.

-Be safe, stay strong…Albertan’s our counting on you and this Native Son now living in Italia has the highest respect for you all and always will.

#108 bdwy on 03.27.20 at 5:51 pm

You want me to install a water heater, or write this blog and do my job? But you sound manly. – Garth
—————————–
definitely write the blog.

and thanks for the compliment. you should see me do brake pads!

#109 Piano_Man87 on 03.27.20 at 5:51 pm

A+ post Garth. Very good one.

A sad, funny, and illuminating stat I heard today: A barrel of monkeys (the game) is now worth more than a barrel of Albertan oil.

I just hope when the next oil boom occurs (and it will occur – it’s a non-renewable resource), Alberta makes a nice rainy day fund as Norway has done, for times just like these. This will be their 3rd shot at it.

#110 Skylight on 03.27.20 at 5:53 pm

The US is going back to work, becuase they lived 2008 and we didn’t. Any they know being poor is far worse.

#111 Lisa on 03.27.20 at 5:53 pm

The federal civil servants make me angry. My 18 year old kid got a job at a drug store a week before TSHTF. He is working double the hours planned and getting an extra $2 “danger pay” added to his hourly minimum wage. My spouse is a doc as is my BIL. No pension, no benifits, no sick days and they have to pay for their own masks, gloves, gowns and eye shields when dealing with patients in the office. BIL works ICU so, lucky him, gets free use of a respirator.

Seriously people. 2m social distancing. Wash your hands with soap and water. Don’t touch your face. And help each other, even if you are a federal civil servant.

#112 Lost...but not leased on 03.27.20 at 5:55 pm

Remember that “WAR OF THE WORLDS” broadcast by Orson Welles? People were scared sh*tless that it was real.

HOWEVER….If you research the matter..it was one of THE first Fear Porn psy-opps… all by design…the powers that be simply wanted to test the waters.

Now….in 2020….the buzz word I hear is computer “modelling ” how bad this “pandemic” will get.
= More Fear Porn .

OMG….

#113 Anti Civil Servants on 03.27.20 at 5:57 pm

Well are your all a bunch of anti civil servants.
Let me see now, there was articles in the paper about nurses refusing to work because they don’t have proper equipment. Police have stopped issuing tickets

You pointed out that the store clerk has a plastic shield.
Would they be at work without one?

The problem is not the civil services it’s the employer not providing a safe work environment. I bet you $1,000 employees went to management and said can we have some protection from the virus, and the government said no can do!
so they walked. I bet you would do the same.
Yes of course you would.

And for the millions out of work you should thank the civil service for getting your money out the door. Jeezz in BC it takes the government 6 weeks to get you a check, the federal government 10 days
Ya kick them when there down and pick on a few poor soles. And guess what they will not get paid, who ever wrote that does not understand the government employee no work no pay.
and may face disciplinary action. So shut up until you understand the full story.

It’s to easy to print one thing and sit back and watch the shit hit the fan well done.

#114 Nonplused on 03.27.20 at 6:01 pm

“If nurses, hospital cleaners, paramedics, doctors, cops, firefighters and others on the front line can step up to risk when needed and toil in the teeth of a pandemic, you can at least sit in an office chair and help your neighbours.

Some things we will not forget, when the sun returns.”

Also a big shout out to the folks at Costco, Co-op, and the truckers and factory workers who keep them supplied. If you think things are bad now, wait until they close the Costco. Within 2 weeks people will be trying to steal each-other’s food via home invasion robberies. Who knew in times of a crisis we’d be most dependent on a bunch of people stocking the shelves for minimum wage? And potentially risking their lives to do so?

#115 jess on 03.27.20 at 6:02 pm

bill gates says …total lockdown 6weeks everything
state to state will not work
G20 just getting schooled!

https://www.news.com.au/lifestyle/health/health-problems/coronavirus-china-wuhan-emerges-from-lockdown-after-76-days/news-story/e1e97850a3b389d52de50a112fffe08e

The epicentre of the coronavirus outbreak will emerge from lockdown after 76 days. Here’s what Wuhan did and why it worked.

A World Health Organisation mission led by Dr Bruce Aylward and Dr Wannian Liang said there are three phases to China’s response and some crucial reasons why it worked.

The first stage included preventing cases spreading from Wuhan and Hubei by controlling the source of infection and blocking transmission. Wet markets were closed, the WHO was notified and the genome sequence of COVID-19 was shared on January 10 – 10 days after the virus was officially acknowledged.

The country developed protocol for diagnosis, treatment, surveillance, managing the disease spread and tracking down contacts. Wildlife markets were placed under strict surveillance and control.

The second stage involved reducing intensity and slowing down the cases – “flattening the curve”.

In Wuhan and throughout Hubei, China focused on treating patients, curbing the spread and classing it as an infectious disease which allowed border checks and quarantine for those with a fever.

On January 23, Wuhan went into lockdown with case isolation and treatment made even stronger. Events were cancelled, public health communications were stepped up and medical supply chains were strengthened. Hospitals were built in just a few short days and other venues repurposed into wards.

The third stage involved targeting cluster cases and ramping up policy implementation. Concrete protocols for treating and testing patients were introduced and mobile technology was used to strengthen contact tracing and managing “priority populations”.

At the same time, other provinces sent workers to Wuhan and financial compensation was planned for workers forced to close. Now, scientific work continues to develop vaccines and diagnostic tests and identify the exact source of the virus.

On Thursday, Chinese leader Xi Jinping schooled other G20 leaders on how to respond to the outbreak, as the epicentre spreads to the US and Europe.

#116 john m on 03.27.20 at 6:03 pm

I just received an email from a friend of many years now retired a nurse practitioner she has the virus and has difficulty breathing..no room in the hospitals and recovering at home (hopefully)..this is scary!

#117 Lost...but not leased on 03.27.20 at 6:03 pm

#74 Paully on 03.27.20 at 5:07 pm
100% agree with you about the Service Canada un-civil, non-servants. Shameful.

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

Do what Reagan did with Air Traffic controllers….FIRED their sorry @sses. C’mon Justin…show leadership versus condescending Big Brother Fear Porn.

PS: I know a couple of pilots who were flying back then…they said the pilots simply established their own protocol for air traffic and it was one of THE safest times in aviation history. The lesson for these civil servants is the general public may realize THEY ARE NOT NEEDED.

#118 BG on 03.27.20 at 6:03 pm

Funny how the hospitals used to say the masks were only effective for about 20 minutes until they absorbed enough moisture from your breathe to become ineffective.
Now they say they are good for a 12 hour shift.

#119 I’m stupid on 03.27.20 at 6:05 pm

This is bullshit… the government’s of the world are using this virus as a reason for a cash crab. As far as I’m concerned no one should get bailed out. Not business or households. Both deserve what they get. Households for gorging on too much debt and companies for not keeping enough money in reserves to get them through tough times.

I mean look at the way this is working out… the poor bastards are getting 2k a month. Is that fair? If you’re unemployed and paid the max Ei payments it’s insurance you’re getting your own money back. If you never contribute your getting 2k for free. How is that fair?

All the while companies are going to get billions. What a bunch of bullshit. I say bring on the 30s, part 2. I’ll tell you that everyone will be better off if society resets. The way it is now only serves to keep billionaires that way on the backs of everyone else.

You know what they say… if you owe a million it’s your problem but if you owe 100million it’s someone else’s problem.

#120 State 51 on 03.27.20 at 6:07 pm

#8 Me on 03.27.20 at 3:35 pm
It sets a poor precedent to shame those with “job security and defined benefit pension plans”. Raise yourselves up, don’t knock others down. Locking the doors to prevent further spread to and from visitors makes sense. Many are now working from home anyway, several of those buildings have skeleton crews to receive clients anyway.
+++++++++++++++++++++++++++++

You’ve tested positive for the Entitlement Virus. It’s main symptom is the development of a second sphincter, because the first one was not enough to allow you to spew BS fast enough.

When you get the guts to go out on your own and start a company, risk everything you own everyday and hire and employ people then let us know. Grown up stuff.

Otherwise …. well.. you know…

#121 NoName on 03.27.20 at 6:10 pm

twitor is funny you click on zero dude link and twitor tells you it’s unsafe… anyway back to the article

_–

Professor of reproductive medicine at Tongji Hospital in Wuhan, Li Yufeng, had predicted in a study that the testicles could become a ‘major target’ in a coronavirus infection.

time to put hazmat suit on.

https://www.zerohedge.com/health/covid-19-may-attack-testicles-reduce-testosterone-study

#122 Reality is stark on 03.27.20 at 6:10 pm

Trump is a New Yorker.
Cuomo has indicated that respirators may be overtaxed by the first week of April.
The uninsured in New York will be advised by the medical workers to cross the border into Canada for emergency medical service. The reason Trump is closing the border to Canada is to make sure returning Americans are medically cleared before coming back into the country.
MAKE NO MISTAKE. NEW YORKERS ARE GETING THIS DISEASE NOW.
If they get to this country, TRUMP WILL INSIST THAT THEY RECEIVE TREATMENT. They will not go to the back of the line or be deported.
There will be thousands of New Yorkers ahead of you at Canadian hospitals.
Brace for it.

#123 the Jaguar on 03.27.20 at 6:11 pm

Why does a guy like Bill Morneau go into politics? Any casual observer with a brain would concur it’s a thankless job. He’s got his own piggy bank, married well, and is part of a major corporate prestige player. Don’t get me wrong, I’m glad people like him ‘step up’, but it would be interesting read his psychological profile. As an aside, anybody else but me think he sounds exactly like the father character (George McFly) in Back to the Future? I couldn’t tell them apart on an audio recording of their voices, lol!

And then there is ” Oil is the nation’s biggest export, and it’s never been so worthless.”
Maybe right now. But it’s still a finite resource, and even if the spoiled brat Saudi Prince flooding the market is causing the price to plummet, pretty sure things won’t stay that way. US shale oil companies are in financial freefall. They are the reason the price crashed in the first place. Anybody who thinks the world ( bigger or smaller) can be run without fossil fuel is dreaming in technicolour. I posted the link to this little podcast some time ago. Worth a listen if you have interest in such matters.
https://www.peakprosperity.com/art-berman-houston-we-have-a-problem/

As for ” If nurses, hospital cleaners, paramedics, doctors, cops, firefighters and others on the front line can step up to risk when needed and toil in the teeth of a pandemic, you can at least sit in an office chair and help your neighbours.”…… Let us not also forget that while many branches were temporarily closed, the Canadian Banks have also stayed open and are doing everything they can to be there when they are needed.
Thank you Darryl White.

#124 Re-Cowtown on 03.27.20 at 6:13 pm

#109 Piano_Man87 on 03.27.20 at 5:51 pm
A+ post Garth. Very good one.

A sad, funny, and illuminating stat I heard today: A barrel of monkeys (the game) is now worth more than a barrel of Albertan oil.

I just hope when the next oil boom occurs (and it will occur – it’s a non-renewable resource), Alberta makes a nice rainy day fund as Norway has done, for times just like these. This will be their 3rd shot at it.

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

We keep trying to but the feds keeping thinking that unicorn farts will power the world and are bound and determined to kill off the oilpatch.

Just for a joke, we should let them. Kind of like telling your kid repeatedly to not eat yellow snow, but then after a while you get tired of being the grown-up in the room and say “have at it!”

And when their retching ends, you say “How did that work out for you”

And in between tears they sob “Not good.”

#125 Bad Hombre once yelled at the orange menace, he peed his pants on 03.27.20 at 6:14 pm

“Now, a note to Bill Morneau, the finance minister, who follows this pathetic blog (according to his staff):”

Perhaps you could get hereditary Chief Woos to get his protesters to blockade the virus.

#126 Stuck at home in Winnipeg on 03.27.20 at 6:15 pm

The civil servants should be laid off en-mass and replaced with those who are already laid off in the private sector. Would get superior staff at a lower price. Good time to beat the federal public sector unions into submission. Let no good crisis go to waste.

#127 Dolce Vita on 03.27.20 at 6:17 pm

#97 Penny Henny

So very true.

It’s exasperating, not only the pandemic but what I read about economically here from Garth, which has just been spot on (if not prescient), and peruse from Twitter, Cdn. TV, dailies etc.

Penny Henny, to me it’s like what people say that when you die your whole life flashes in front of you in an instant.

That’s the closest I can come to wrapping my mind around what is happening to Canada and at break neck speed. It’s almost too much to take in. That’s why I called Garth’s Blog yesterday Magnificent and today complement again for a job more than well done.

I’ve gotten more from him in a short read than a days worth of gleaning Social and MSM.

I think Gov’s Fed and Prov are doing the right thing. COVID-19 has a higher infection rate than the Spanish Flu and we all know how that went.

So better to have a population not decimated to pick up the pieces after it all over.

Good eye as always PH and stay safe.

#128 Kevin on 03.27.20 at 6:17 pm

No truer words… just shameful. Thanks Garth, you’re the best!

“If nurses, hospital cleaners, paramedics, doctors, cops, firefighters and others on the front line can step up to risk when needed and toil in the teeth of a pandemic, you can at least sit in an office chair and help your neighbours.

Some things we will not forget, when the sun returns.”

#129 the Jaguar on 03.27.20 at 6:18 pm

@ #44 45north on 03.27.20 at 4:32 pm

Amen brother. If you want to see an older, but very timely documentary ( and see Matt Simmons views on this issue) check out this on YouTube. It’s more relevant than ever………………

https://www.youtube.com/watch?v=Q3uvzcY2Xug

#130 TheYounGreek on 03.27.20 at 6:22 pm

$0.65/litre for gas!?!? Oh wait a minute you guys get your oil from the Saudis. I’ll pay a little extra here on the best coast and support our neighbours in Alberta.

#131 DavidW2 on 03.27.20 at 6:23 pm

Lots of changes indeed but can’t say I’m impressed with the ragging on Service Canada and the broader public service.

These are the individuals working around the clock to put support programs in place to bail out the private sector and get cheques out asap. These individuals are being redeployed from the front line to process the 1,000,000 + EI applications more efficiently.

If the public service wasn’t standing, and other health care and emergency services, there wouldn’t be any glue left holding the country together. So to all those still working, thank you.

If you want to be mad at anyone, direct your attention to the companies and organizations that profited during these past boom years and are sitting on record amount of cash that are now punting staff.

#132 Do it right Mike on 03.27.20 at 6:23 pm

#65 bdwy

Chiseled ab Garth only hires competent licensed tradesmen for his renovations. Not that he can`t do it he just wants it done professionally.
No surprises after the van drives away.

#133 the Jaguar on 03.27.20 at 6:25 pm

@#107 Dolce Vita on 03.27.20 at 5:50 pm
“-Be safe, stay strong…Albertan’s our counting on you and this Native Son now living in Italia has the highest respect for you all and always will.”

Grazzi, Dolce Vita, de MangiaCake Jaguar

#134 Winterpeg on 03.27.20 at 6:25 pm

As a health care worker, I would agree with those who said it was safer to NOT have the public come into the EI offices. But are Fed EI employees not at least working at the offices while practicing distancing? If not, well…, I guess I would agree that the logistics of maintaining safety re: hygiene at work would be challenging. Tricky enough in health care settings.
Where I work (long term care units, rehab units, and palliative units) we are getting updates every day on procedures. No visitors allowed, except for end of life patients, (and I mean imminently dying). There are no cases of Covid yet, thankfully in my facility.
I am grateful to be not working in an acute care hospital but no guarantee it won’t find its way into my facility yet. Grateful to those in acute care and other essential services. To the general public, mask if you can, but hand washing still of greatest importance, as is distancing.

#135 akashic record on 03.27.20 at 6:26 pm

#95 akashic record

You know what Bill Morneau?
(if you read not only the blog, the comments, too)

Think big.

Open a special $100K RECOVERY TFSA for each Canadian.

Fund it with that 0.2% dollar. Administer it by the BoC for 5 years. Mandate to fill it with TSX, S&P, etc. index ETFs.

After 5 years get back the $100K+interest.

Leave the rest of the profit from the worldwide recovery in the account and hand over the administration for the individuals.

Enjoy the glory of the best Canadian Finance Minister.

Make Canadians Rich Again.

“Do it, Bill.”

Garth can run a free survey of the blog dogs to test the idea.

#136 Damifino on 03.27.20 at 6:27 pm

The finance minister may read the blog but he has an underling scanning the comments. She’s been to told not to waste too much time on it but to give him a call if anything relevant pops up. He doesn’t hear from her much.

#137 Moonlight Mimi69 on 03.27.20 at 6:29 pm

Insightful analysis.

#138 Drinking on 03.27.20 at 6:31 pm

I am not sure as to why TD always makes things so difficult. It was my first account I opened at the age of 10. They have never done anything to help me in a dire circumstance, very disappointed! I will remember!

What is there to say Garth; whether this is overblown or a situation that protects us and first line workers and us; I guess better to be proactive then none; we will get through this but things need to change. Last 4 major viruses originated from one country and that is an issue that we need to discuss. We cannot do this any longer!

#139 Stone on 03.27.20 at 6:34 pm

#48 Penny Henny on 03.27.20 at 4:36 pm
Now, a note to Bill Morneau, the finance minister, who follows this pathetic blog (according to his staff):
//////////////

I wonder if he reads the comments.

———

Who do you think Sail Away is?

#140 oh bouy on 03.27.20 at 6:35 pm

One of the positives from this virus.
I love working from home, may never go back.
Having the kids around makes it that much better.

#141 Randy on 03.27.20 at 6:36 pm

Sounds like Trump is taking over control of the Fed https://finance.yahoo.com/news/feds-cure-risks-being-worse-110052807.html

#142 Tony on 03.27.20 at 6:42 pm

Maybe Questrade can wave the 50 dollar charge or fee for partial RRSP withdrawals. They use to be free.

#143 Nonplused on 03.27.20 at 6:46 pm

#31 CJohnC on 03.27.20 at 4:16 pm

“Gas is still $105.9 in Ladner BC”

That’s because BC has more taxes on fuel than Alberta. Oil could drop to zero and the price of gasoline in BC would still be more than it is in Alberta. Plus there is the transportation costs, the Trans-Mountain pipeline doesn’t run of pixi dust. Vancouver is a long way from the refineries, which are near Edmonton.

#144 Tony on 03.27.20 at 6:47 pm

Re: #115 jess on 03.27.20 at 6:02 pm

They tell you it worked but in the future we’ll find out the real truth.

#145 crowdedelevatorfartz on 03.27.20 at 6:55 pm

@#99 Govt worker
” I’m curious as to what the whole story with the Service Canada folks is.”
++++

I suspect a rabid Union Rep locked horns with Human Resources and came to an agreement that seemed totally acceptable to them and not to the “customers” ( insert the real world0 they were expected to serve.

#146 Nonplused on 03.27.20 at 6:58 pm

#59 Lefty on 03.27.20 at 4:48 pm

“Tank or tankless water heater?”

That depends on your application. I can’t go tankless because there is not enough gas coming to the house once all the other things that use gas are counted up. The pipes are sized for a tank. I could go to a boiler but whew those things are expensive.

Tankless heaters are more efficient but when they are heating water they really suck hard on the pipe. You can get an electric tankless heater but again most older homes do not have the wiring to handle the load. For that reason I suspect Garth got a regular water heater.

#147 Headhunter on 03.27.20 at 7:01 pm

Been away enjoying life but as chance has it read the blog last few days.

I think because this blog caters to a certain segment of the population is can be somewhat of an “echo chamber”

Quick example of whats coming.. Canadians spend 170% of what they earn… try that on EI. Airlines, tourism, hotels, eateries, employ a great many people. Banks will close branches etc etc etc.

Well thats the Neighbours on your street.. lets just say 20-30% of your hood. These jobs are not coming back anytime soon if at all. You know it, I know it, they know it.

They will end up bailing, no other choice. As for people “waiting on the sidelines” to buy fallacy. Why catch a falling knife?

#148 not 1st on 03.27.20 at 7:02 pm

Here is a union group exposed for hoarding 39M masks and suppliers who can make 20M a week.

Also dishonest media shill Gov Cuomo exposed admitting lots of ventilators in storage.

https://thewashingtonsentinel.com/left-wing-labor-union-seiu-found-hoarding-39-million-face-masks/

https://twitter.com/MrJones_tm/status/1243623316218359810

#149 Nonplused on 03.27.20 at 7:03 pm

#128 akashic record on 03.27.20 at 6:26 pm

That would be a sure fire way to collapse the dollar right to zero. However I am sure the Economystic would be proud of you.

If giving away money was a surefire way to fix the economy I wonder why nobody has tried it before? Oh wait, they have. We know what happens.

#150 Don Guillermo on 03.27.20 at 7:04 pm

#109 Piano_Man87 on 03.27.20 at 5:51 pm
A+ post Garth. Very good one.
A sad, funny, and illuminating stat I heard today: A barrel of monkeys (the game) is now worth more than a barrel of Albertan oil.
I just hope when the next oil boom occurs (and it will occur – it’s a non-renewable resource), Alberta makes a nice rainy day fund as Norway has done, for times just like these. This will be their 3rd shot at it.

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

Alberta has had $600 Billion in the last 40 years moved into Federal coffers that Norway hasn’t to deal with (Alberta’s pop roughly 2/3rds of Norway’s). Extrapolate that. Having said that Alberta has been mostly OK with it for the privilege of living in the great Dominion of Canada. Fast forward to recent years with Canadians of all stripes mocking and torpedoing our industry while still lapping up the benefits. Norway’s deep off shore oil can be some of the highest risk oil to harvest based on leaks and spills. No one is too worried about that. Alberta will never have a rainy day fund being part of Canada. Never.

And just to add a little salt in the wound, CBC has a good laugh comparing our $5.00 oil to a barrel of monkeys (the game). Disgusting. Can you imagine them laughing at Bombardier or the Canadian auto industry?

Side note: I worked on a Stat Oil project in Venezuela for 2 years . Great company. But no better or worse than the great Canadian oil companies I’ve worked for.

#151 Slim on 03.27.20 at 7:06 pm

“Some people aren’t shaking hands because of Coronavirus,” read one tweet. “I’m not shaking hands because everyone is out of toilet paper.”

Still no TP (among some other things) in Walmart, the biggest retailer in the world. When someone asks, nobody knows. Politicians keep telling us the supply chain is in good shape. I’m beginning to wonder.

#152 Ronaldo on 03.27.20 at 7:11 pm

#11 Lost…but not leased on 03.27.20 at 3:43 pm
Finally, a note to the 3,360 federal civil servants with job security and defined benefit pension plans who staff the 317 Service Canada centres across the nation where folks go to apply for benefits in times of crisis: you deeply disappoint us. This week the government locked the doors of every single centre, employees on the inside, citizens on the outside after the workers refused to work.

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

Henry Makow’s blog makes note of this, that there may be a benefit to this fear porn.

People will actually make better life decisions, whether it be home schooling..boycott pro sports..eat healthier…etc. etc.
—————————————————————
Governments will recognize that they can get by with far fewer of these people. I recall clearly the 80’s recession when I was working in the public service as a senior manager (one of my several careers) and the BC Gov’t had to reduce the employees by 33%. A lot of work was reassigned to other employees. Some of the employees who were laid off came back to work as independant contractors. We hired auxiliary workers for the seasonal work.

I would guess that we could probably layoff 1/3 of current government workers and would still get the job done. Just need people in charge with the courage to make the tough decisions.

#153 Nonplused on 03.27.20 at 7:12 pm

#139 Stone on 03.27.20 at 6:34 pm
#48 Penny Henny on 03.27.20 at 4:36 pm
Now, a note to Bill Morneau, the finance minister, who follows this pathetic blog (according to his staff):
//////////////

I wonder if he reads the comments.

———

Who do you think Sail Away is?

————-

I’m pretty sure Bill is the Economystic guy.

#154 Water tanks on 03.27.20 at 7:12 pm

I’ve had all those hot water tanks. My favourite is gas water tank vented through a chimney, cheap to buy and power outage no problem.
Online or tankless should be serviced regularly. Power vent go off in power failure

#155 Flop... on 03.27.20 at 7:14 pm

Did I install a water heater today?

No, I was too busy essential servicing something else.

Best Spring Break ever, trip got cancelled, so I worked 8 out of the ten supposed days off, helping out on a job that has been affected by other trades falling silent.

Here, New York, have some relief.

The rest of you, have some pork fat…

M45BC

How the 150B Coronavirus Relief Fund Gets Divided.

New York currently has nearly half the Coronavirus cases in the U.S. but is only receiving 5% of the total funds or $7.54B.

Top 5 States by Allocation.

1. California – $15.32B
2. Texas – $11.24B
3. Florida – $8.33B
4. New York $7.54B
5. Pennsylvania – $4.96B

https://howmuch.net/articles/distribution-150-coronavirus-relief-fund

#156 NoDelay on 03.27.20 at 7:14 pm

@ #117 Lost…but not leased
” PS: I know a couple of pilots who were flying back then…they said the pilots simply established their own protocol for air traffic and it was one of THE safest times in aviation history. The lesson for these civil servants is the general public may realize THEY ARE NOT NEEDED.”

Lol.. you may want to see what happens when ATC takes a break and traffic keeps flying:

1973: Mid-air collision kills 68
Sixty-eight people were killed when two Spanish aircraft collided in mid-air over France where air traffic controllers are on strike.
http://news.bbc.co.uk/onthisday/hi/dates/stories/march/5/newsid_4202000/4202039.stm

#157 crowdedelevatorfartz on 03.27.20 at 7:15 pm

@#113 anti civil servants

Well, I see grammar and punctuation wasn’t a prerequisite when YOU applied for your “job for life”.

So how is it these days in the Salt Mine?
Got enough to eat?
Steady pay cheque?
Guaranteed Pension plan ratcheting up into the stratosphere?
Hired security standing next to you ready to pounce if you feel “bullied” by the public?
Good for you.

What a terrible, terrible work environment you govt white collar bureaucrats are forced to suffer through.
Perhaps a week in the trenches with the unwashed rabble might give you a view of the “other side’?
AKA
75% of the workforce that isnt paid by the govt or are protected unionized sloths.
Taxpayers who fork over exorbitant taxes and user fees that pay your salary to pay to then be ignored, insulted or ridiculed?
Nah.
I respect unionized trades that work for a living….not the unionized white collar slugs that seem to infest every level of govt these days and produce nothing of value.

Cry us a river as to how terrible you have it….we’re still dubious, convince us we’re wrong….

#158 Drinking on 03.27.20 at 7:16 pm

In Cowtown; one can get gas for just over .58 cent a litre on Weds and I think Sats, hurray for those of us that have no place to go. Just sickening. We have the oil,gas,propane, etc, nothing needs to be imported, it creates so much to our economy; our benefits, it is sustainable; so much has been done with no news; only bad news has ever been reported, what a shame!

#159 Kilt on 03.27.20 at 7:18 pm

#28 JSS
“So what are the wealthy Canadians doing (or buying) during this time of crisis?”

Not buying anything yet, especially toilet paper. I see several outcomes.

1) Social distancing works. We get a flat curve that lasts forever with 6 to 18 months of crap economy. So, lots of time to get into the stock market at lower prices.

2) Things get out of control, Covid has a death rate closer to 10% (SARS) not 2% when there are no machines to keep you breathing. You will still run out of the demographic that is likely to not recover. Resulting in money transfer from boomers to kids. That combined with an anemic economy and no influx of “new Canadians” results in a whole lot of real estate up for grabs.

3) A Vaccine is fast tracked (6 months instead of 12 to 18) or the whole virus becomes a non-event in 6-8 weeks. This is the situation where you wished you didn’t sell in a panic.

Alberta is toast regardless.

Kilt.

#160 crowdedelevatorfartz on 03.27.20 at 7:19 pm

@#136 Damfino
“He doesn’t hear from her much.”
++++

Thats because Blackdog is too busy commenting on the blog to talk to Mr Morneau……

#161 BobC on 03.27.20 at 7:20 pm

Really……? When it rains it pours.

https://www.thepostmillennial.com/trudeau-will-hike-carbon-tax-by-50-percent-despite-coronavirus-struggle

#162 crazyfox on 03.27.20 at 7:23 pm

Excellent description of a modern day plague if I might say so. Can’t help but have a soft spot for the plagues of old, though. The rodent bitten ankles, the mud, the phlegm, the crying and dying and rotting corpses, the suffering, if we could only turn back time:

https://www.youtube.com/watch?v=QcbR1J_4ICg

#163 dosouth on 03.27.20 at 7:25 pm

To be honest there are two things on this post….

#1 -Meanwhile, after rocketing ahead 20% in a few sessions – the best performance in 90 years – stock markets ended the week in a funk. –

— Manipulated by nano-computers and how we will continue as the “normal investor” to be forever locked out of honest and informed investing. More market manipulation yet to come.

#2 Some things we will not forget, when the sun returns. –

— Have to strongly disagree. In 2 + weeks all the self interest groups have forgotten the sky is falling due to pipe lines, indigenous rights, trans rights, #Metoo, and on and on.

These will rise once again and all will be forgotten before the election cycle begins all over again and again.

#164 Stone on 03.27.20 at 7:27 pm

#153 Nonplused on 03.27.20 at 7:12 pm
#139 Stone on 03.27.20 at 6:34 pm
#48 Penny Henny on 03.27.20 at 4:36 pm
Now, a note to Bill Morneau, the finance minister, who follows this pathetic blog (according to his staff):
//////////////

I wonder if he reads the comments.

———

Who do you think Sail Away is?

————-

I’m pretty sure Bill is the Economystic guy.

———

Maybe he’s Freedom First.

#165 Lost...but not leased on 03.27.20 at 7:32 pm

#118 BG on 03.27.20 at 6:03 pm
Funny how the hospitals used to say the masks were only effective for about 20 minutes until they absorbed enough moisture from your breathe to become ineffective.
Now they say they are good for a 12 hour shift.

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

Bang On….

Call me a fatalist….but if this coronavirus was really that baaaaaad as media alludes to…the death toll would be epic.

The “masks” people wear cannot catch the “alleged” virus….it would simply bypass the filtration.

I have ZERO fear going out in public….(though I do stay indoors more than normal,…. but not out of any rational fear….but morseo due to businesses I would normally patronize are closed.)

About 10 minutes or less of basic “common sense” research should have the average person deduce we are being conned by JUNK SCIENCE.

#166 Drinking on 03.27.20 at 7:36 pm

#162 crazyfox

But I like to think that we have learned from the past; apparently not!

#167 WEXIT on 03.27.20 at 7:36 pm

Good point about the Service Canada centres. It was disgraceful actions by these workers. Have they no shame.

#168 Ronaldo on 03.27.20 at 7:36 pm

#37 Shorty on 03.27.20 at 4:25 pm

I take it your were not around in the 70’s and 80’s.

#169 lana on 03.27.20 at 7:37 pm

You’ve told us many a time on your blog that a ‘rainy day fund isn’t necessary, never happens’. Well you were wrong. A rainy day fund of liquid assets/cash is what reduces the stress when a job loss comes. Thank God for my mother who lived through the depression, and told me stories. All of us just might need to get abit more frugal. Stay at home, wear a mask when out – a health care professional on the front lines trying to save your life and someone you love. Oh ya, selfish people don’t care about their loved ones, friends, neighbours.

#170 Xpat on 03.27.20 at 7:39 pm

$2000 a month to stay at home, but essential services, such as McDonalds and A&W and Walmart and the cleaners at hospitals make their employees work for minimum wage. They get to face the virus AND make less than everybody else. Hey Bill if you do read this make this right for these folks.

#171 Lost...but not leased on 03.27.20 at 7:40 pm

#156 NoDelay on 03.27.20 at 7:14 pm
@ #117 Lost…but not leased
” PS: I know a couple of pilots who were flying back then…they said the pilots simply established their own protocol for air traffic and it was one of THE safest times in aviation history. The lesson for these civil servants is the general public may realize THEY ARE NOT NEEDED.”

Lol.. you may want to see what happens when ATC takes a break and traffic keeps flying:

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

Dude…we are talking almost a decades difference.
Got any record of accidents during US ATC strike?

Regardless….Civil Service should be as anxious as cats in a room full of rocking chairs.

When dust settles…collateral consequences = majority of given population not a lot of sympathy for “Job$- 4 -Life “types.

#172 bdwy on 03.27.20 at 7:41 pm

Online or tankless should be serviced regularly.
———————-
neglected mine for years, just flushed it and wow so much hotter.

#173 Toronto_CA on 03.27.20 at 7:41 pm

Garth, if people pull money out of their retirement funds now, when the market is down severely, and then put it back in over 3 years (when the market may have rebounded); isn’t that going to be terrible for them?

I like the idea and I’m sure they could tap bond funds that may not have been as demolished as equities (if they’re smart enough, most would be in target date plans by default). However, pulling money out of the market after a 30-35% drop if you plan to put the money back in a few years is probably a bad idea. I’d almost rather do anything else to get the money. The long term cost to retirement funds are immense.

Also retirement funds are protected in bankruptcy, no? If someone pulls it out and has to declare bankruptcy, it’s gone forever. If they declare bankruptcy while it’s still in a 401k or IRA I think it’s safe in the USA.

I suppose it’s better than losing your house though.

#174 Sold Out on 03.27.20 at 7:43 pm

Haha. The union envy here is so pathetically transparent. The loudest voices being the first to claim lefties and millennials are jealous of success.

Any one of you crybabies could’ve had a union job, good benefits and a pension. You didn’t make the cut. Suck it up. Keep telling yourself that wouldn’t want to join a club that would let people like you in.

When you’re laying in a hospital bed one day, gasping your last, tell the nurse what you really think of unions; I’m sure they’ll respect you for it.

Might as well just change the name of this blog to “Bitter Old Men”

#175 Ronaldo on 03.27.20 at 7:45 pm

#38 SmarterSquirrel

Unemployment hit 20% in the great depression but people with means could still travel and go out for dinner and movies and could still go to work if they had work. Seems very different today given all those options are shutting down and to me, 20% unemployment seems quite likely.
—————————————————————-
You cannot compare what happened in the great depression to now. 20% unemployment of 85% who now live in towns and cities vs 20% of the 15% that lived in towns and cities in the 30’s is a whole lot different. Back in the 30s the people living in rural communities were pretty much self sufficient and I don’t believe they were counted as part of the unemployment since they were not on anyone’s payroll. Make sense?

#176 Ronaldo on 03.27.20 at 7:49 pm

#39 some guy on 03.27.20 at 4:27 pm
Government workers do not understand what its like to be laid off or not have any job security. They live in an entiteld bubble.
—————————————————————–
I could not agree with you more as I too was one of them for a time. It’s an entirely different world compared to private industry. I could tell you some real good stories about entitled individuals.

#177 John in Mtl on 03.27.20 at 7:52 pm

@ #77 AntMan on 03.27.20 at 5:07 pm

Don’t underestimate the hanky-panky going on behind the scenes, mostly by connected and insider elites. They will do just fine in this crisis. “Elites” -heh, many greedy conniving thieves in that lot.

#178 WUL on 03.27.20 at 7:54 pm

#4 Dee on 03.27.20 at 3:29 pm
“..we buy Arab oil, while our oil companies go into the ground. Pretty sad.

****

Private oil companies and refiners in Canada buy Middle East oil. Mostly from Algeria. To earn profits which is their reason d’etre.

Governments and individuals do not buy oil.

“…inconvenient facts for Canada’s “Saudi oil” brigade — politicians, industry lobbyists and media voices who operate a remarkably coordinated messaging campaign.” (See link below)

The amount of Canadian oil shipped to Quebec from the Middle East (mostly from Algeria) has been widely outstripped by Canadian oil and US oil over the last few years.

Link:

https://www.nationalobserver.com/2018/11/14/opinion/quebec-oil-stats-undermine-canadas-denial-brigade

WUL

M64Athabasca Oil Sands Area

#179 Ritz on 03.27.20 at 7:57 pm

As always, great post Garth. As for the civil servants at Service Canada, what an embarrassment.

#180 Keep Your Rent on 03.27.20 at 8:04 pm

Tenants keep your rent.

Landlords keep your distance.

5 days until tenants get to demand respect.

#181 Married to the French Fry Mob on 03.27.20 at 8:17 pm

What do you guys think of the Government Covid package for individuals and business?

I think it’s good.

#182 A on 03.27.20 at 8:22 pm

Hey Garth, was in service Canada the other day. Don’t blame the workers, you go in there a cramped space that all kinds of people are walking through and breathing in. If I was the old lady working the front desk no way I would be working right now. The blame is on the government and the system for not being prepared

#183 Lee on 03.27.20 at 8:30 pm

Don’t know how effective JT has been fighting the big virus but he does seem to be making an effort. I would have more severely limited incoming flights. People do seem a little more confident today than say Tuesday.

#184 Barb on 03.27.20 at 8:31 pm

“…after the workers refused to work.”

Civil servants are silver servants.
A society more distinct than Quebec.

“Washington is passing a bill allowing folks to take up to $100,000 from their retirement plans, paying no tax as long as it’s repaid in three years.”

Since Mr. Morneau reads this blog (more clever than his boss!), two options should be available for the $100K RRSP:

(1) as you state, with repayment within 3 years, or
(2) taking the money while not working AND PAYING TAX, WITH NO REQUIREMENT TO REPAY IT.

It should be the person’s choice.

After all, the family may need a new roof / new windows on their residence.

And a new hot water tank.

#185 Treasure Island CEO - 404.32 Ounces of Gold Within Bicycle Distance on 03.27.20 at 8:32 pm

Crystallize the RSP losses from the crash? 30% haircut and now is the time to pull money if the gov allows it? Bad move.

The country should have shut down. Hit the pause. Resume after the pandemic passes. Too late. Now a disorderly catchup game to patch a dam with a thousand leaks.

And let’s be real. Letter mail has not been needed for a decade. Get the systems up to speed for online transactions. Close the brick and mortar. You don’t need it.

Shut Canada Post down. The only remaining thing for mail – parcels – has already been taken over by Amazon and their decentralized private army of contract workers driving their own vehicles all over Canada now.

The virus will pass. Mid May maybe into June depending on how we flatten the curve.

The way we do business will forever change and for the better. Adapt or go bust. Life will go on.

Mark my words.

#186 Gregor Samsa on 03.27.20 at 8:34 pm

You forgot something Garth. The Bank of Canada also announced its own Quantitative Easing (aka money printing) scheme.

Combine that with Trudeau’s “live for today, screw tomorrow” out of control spending binge, and we are in for some dark times ahead. Fifty cent loonie incoming.

Homeowners won’t look so foolish then, because at least they can still live in their homes while everyone else’s savings slowly become worthless.

When the government finally goes broke, I hope Canadians do remember how the public service behaved during this time. They are some of the highest paid people in Canada, with full defined benefits pensions and paid healthcare until they die. Under Trudeau, it’s become one non-stop party for them, as Trudeau stripped away all controls that the “mean” Harper had in place. So there is unlimited travel, unlimited conferences, unlimited spending, and unlimited hiring. The music will stop someday (maybe when Canadians wise up and vote smarter, but Trudeau still leads the polls I see).

#187 Yukon Elvis on 03.27.20 at 8:35 pm

MANILA: Nine doctors have died in the Philippines from the coronavirus, the country’s top medical association said Thursday (Mar 26), as hospitals were overwhelmed and medics complained about a lack of protection on the front lines.

https://www.channelnewsasia.com/news/asia/nine-doctors-die-covid19-philippines-coronavirus-12578962

#188 Ronaldo on 03.27.20 at 8:37 pm

#78 Dave on 03.27.20 at 5:08 pm
Other than essential services, who wouldn’t refuse to work because of the China virus?
——————————————————————
People who don’t get a paycheck if they don’t show up for work.

#189 Martin on 03.27.20 at 8:37 pm

Testing needs to ramp up so those with mild symptoms have confirmation they really are infected. In a future test they test negative and can feel safe to emerge from isolation to work and spend.

#190 East Coast Life Style on 03.27.20 at 8:38 pm

If you people think Canadians are a humble, polite, ah shucks kind of society, you haven’t been paying attention. This crisis is going to result in nothing less than class war fare. Wait until April 1st when a rent strike clogs up liquidity even more than it already is. Private lenders will fall first. Even Trudeau’s colossal (and unnecessary) deficits will not save all of us.

The bloated corpse of the Canadian consumer will be torn to shreds by the jaws of creditors until nothing is left.

You’re going to hear two words a lot more frequently from now on. Shadow Banking.

#191 AGuyInVancouver on 03.27.20 at 8:43 pm

#8 Me on 03.27.20 at 3:35 pm
It sets a poor precedent to shame those with “job security and defined benefit pension plans”. Raise yourselves up, don’t knock others down. Locking the doors to prevent further spread to and from visitors makes sense. Many are now working from home anyway, several of those buildings have skeleton crews to receive clients anyway.
_ _ _
Really? And do you feel the folks working in your local grocery should also be able to scurry away like mice? They likely for close to minimum wage and no cushy government benefits.

#192 GB on 03.27.20 at 8:45 pm

Garth,

Just simply thank you for offering your insights in this time of crisis.

I have been reading your blog since 2000 (I also have a signed book of yours and often but see you in the summer in Lunenberg as my family vacations there every summer :).

Your insights and podcasts have helped me maintain sanity throughout this.

Plus….turning off CNN….That helps.

#193 espressobob on 03.27.20 at 8:46 pm

#169 Iana

Investors generally keep a cash position in our RRSP, TFSA, and non registered account. Sure we load up on bargains when they present themselves but there still remains some dry powder. That’s how it works, nothing wrong with a reserve.

And yes we are quite selfish. Giving to registered charities and getting tax relief sounds like a win, win.

Narcissism rocks.

#194 akashic record on 03.27.20 at 8:50 pm

#149 Nonplused on 03.27.20 at 7:03 pm

#128 akashic record on 03.27.20 at 6:26 pm

That would be a sure fire way to collapse the dollar right to zero. However I am sure the Economystic would be proud of you.

If giving away money was a surefire way to fix the economy I wonder why nobody has tried it before? Oh wait, they have. We know what happens.

The money is given away regardless.

This is actually betting and investing in the recovery.

Governments are buying bonds, equities already, financed with public debt.

The only novelty here is to give a cut for the public.

Seeing with their own eyes what happens with $100K in five years is the best gateway drug for personal investing for the masses.

More effective than reading this blog for a decade :\ with no meaningful capital to play with.

#195 -=withwings=- on 03.27.20 at 8:53 pm

@148 not 1st
Also dishonest media shill Gov Cuomo exposed admitting lots of ventilators in storage.

Today they have 500 in use. Tomorrow 1000. Next week 4000. Week after 20,000. Week after that 40,000

They have 4000 in storage and 1000 in hospitals today. Do some math and see how many short they are going to be in three weeks…shill indeed, at least he can do math which el presidento appears to be incapable of.

@150 Don Guillermi

Alberta has had $600 Billion in the last 40 years moved into Federal coffers that Norway hasn’t to deal with (Alberta’s pop roughly 2/3rds of Norway’s).

So thoroughly debunked you should be embarrassed for even posting it. How about Alberta charges the same sales tax as Norway (25%+). How much could you have saved in your rainy day fund then? Extrapolate that.

#196 GRG on 03.27.20 at 8:55 pm

To: 45 North

“…We need to make the right investment decisions. Consumption has dropped. The real estate market has dropped. What are we going to do? It used to be investment was a no-brainer – railways, farm machinery, roads, St Laurence Seaway, grain elevators, subways. I remember 1967 – the huge expansion of Highway 401 in Toronto – construction as far as the eye could see. There was common agreement on infrastructure investment. The other thing is that the investment paid off – it led to an improvement in people’s lives.

Our present leader Justin Trudeau is big on investment but what kind of investment? Will it pay off?…”

The Canadian economy:
. Resources – deliberately killed off before the virus;
. Housing – good luck;
. Cannabis – looking good in the Liberal Govt forecasts as an major economic growth driver, and I am expecting renewed Federal support for it as part of the economic recovery policy;
. Mining for goldbugs – hey, we have to try anything that might work to pay the mortgage on that “income property” condo in Yaletown with the unemployed tenant (see Housing above).

That pretty well covers it, unless you are a civil servant.

#197 Out Of Work CEO, Will Travel on 03.27.20 at 8:59 pm

It surely is the wrong time to impose the “carbon tax” on Canadian businesses and industry. It would be a much more effective government policy to remove the “carbon tax” so Canada can feed the world and keep our own people from emptying all the food banks at once. A time to help Canadians not add to their burden.

#198 Owl Eyes on 03.27.20 at 9:00 pm

Re: “Finally, a note to the 3,360 federal civil servants with job security and defined benefit pension plans who staff the 317 Service Canada centres across the nation where folks go to apply for benefits in times of crisis: you deeply disappoint us. This week the government locked the doors of every single centre, employees on the inside, citizens on the outside after the workers refused to work.”

It was also disappointing that there were members of the public who were agressive, some deliberately coughing on the staff. Hence the invocation of the refusal to work under the Canada Labour Code.

I imagine voters will do away with the DB pensions soon enough. Although maybe there is a way more people – not just gov’t workers – can have some stability through some version of defined benefit?

#199 Drinking on 03.27.20 at 9:08 pm

#181 Married to the French Fry Mob

Love him or hate him; he knows his history. Did readers know that we had over 8500 deaths of flu in 2018? Anyways, just a fact, look it up! First and foremost is protection for our front line workers!!

Interesting read; https://nationalpost.com/opinion/conrad-black-on-covid-19-the-world-succumbed-to-a-pandemic-of-hysteria-more-than-a-virus?video_autoplay=true

#200 Jager on 03.27.20 at 9:08 pm

Meet Dr. Li Wenliang

The Chinese hero Dr. (detained by police) who died trying to stop the CCP from lying to the world.

https://www.latimes.com/world-nation/story/2020-02-06/coronavirus-china-xi-li-wenliang?_amp=true&__twitter_impression=true

#201 MF on 03.27.20 at 9:09 pm

I still see a few clueless people downplaying the virus in here.

Lots of over confident, fearless, invincible e-tough guys/girls like usual…but that will change in time as they realize what the “novel” in novel corona virus means.

All other forums i frequent with a heavy presence of americans have a steady and growing number of people reporting as positive who are describing the symptoms.

Lots of headache, fatigue, high fever, and difficulty breathing. Many also reporting the symptoms to persist for weeks, with relapses common. Anyone with any health issues is in for a rough ride.

These are all young healthy people too. Many have no idea where they got it. It seems to be mainly from New Yorkers right now. Word is there is an exodus of New Yorkers fleeing outside the cities if they have cottages or homes elsewhere. Many are fearing social disturbances in urban centres all over the US.

But that’s not the point of this post.

The point is this thing is just getting started down south and worldwide so expect further economic disruption as people realize we are in this situation for months, not weeks. Possible even years.

The current market “rally” is just a dead cat bounce brought on by stimulus. All previous bear markets (1930’s, 2008) have them. The original worry, the virus, is still very much an unknown. So that will weigh down the markets further as the virus situation deteriorates, which is inevitable.

Good article: https://business.financialpost.com/investing/it-might-be-tempting-to-call-a-market-bottom-but-history-says-otherwise

MF

#202 GRG on 03.27.20 at 9:10 pm

Garth: The world keeps a’changin’

My Dad helped me open a savings account at the Royal Bank when I got my first paper route in 1965. I’ve been a customer of that bank continuously ever since.

Last year RBC (gawd I hate acronym corporate names) closed the branch in the rural town closest to where I live. The Royal had a presence in that town dating back more than 100 years. Some of the employees, who are my neighbours and friends, were transferred to a brand new RBC branch in a larger town some 20 minutes further away. This week RBC closed that branch as well. I don’t expect it to ever reopen.

Small beans, compared to the problems so many are coping with at this very moment in time.

#203 DON on 03.27.20 at 9:17 pm

Haven’t been to a grocery store since the lockdown.

Started out normal. Spray to clean the carts off (like in the gym). I thought…alright, but no hand baskets. Still perplexing…our people stealing them?

All normal until customers cross paths and then all the hesitation and awkwardness. Like being in the Soap Nazi line up to some extent.

Almost bumped into one older guy. He said sorry, I sad no problem you don’t have the plague do you! He just chuckled and had a good laugh. People need to keep their distance as they should, but don’t forget to lighten up. It’s as if there is a blanket of confusion and fear.

Fear of the virus, job loss, change, unknown.

Hard to get used to the new rules of social distant in a grocery stall, the check out counter was cool. No one rushing you, only you and the cashier and of course the plexi-glass shield. Wonder if those will every go away.

The grocery store used to be a place to meet a potential date. Being single must suck at the moment. I do like the extra space though.

Are we bailing out everything? 0 interest rates. Buying more mortgage securities, the good thing was 75% wages for companies to keep employees on the pay roll.

What’s next?

#204 Ronaldo on 03.27.20 at 9:17 pm

#146 Nonplused on 03.27.20 at 6:58 pm
#59 Lefty on 03.27.20 at 4:48 pm

“Tank or tankless water heater?”
——————————————————————
I had a tank give out on me once and thought I would try and replace the tank myself but then decided it was a tankless job. So I hired a plumber to change the tank out. I tanked him for the good job he did. Tank goodness for plumbers.

#205 trailor_sailor on 03.27.20 at 9:21 pm

# 174 – “Might as well just change the name of this blog to “Bitter Old Men”

Yeah there’s a more than a little of that going around. Always a strong flavor of ‘old moneyed man who loves oil & votes tory’ to the comments section (not that there’s anything wrong with being old, voting blue, and having got rich…love ya Garth)

That said…

Public service unions are obviously out of line today and have been for some time (same goes for whatever structure Canadian doctors have for entry restriction & wage negotiation, though this isn’t the time to say it….little thing economists call ” a cartel ” )

Fired 33% of federal servants and then re-hiring them as contractors isn’t going to save anyone money.

The bigger economic issue isn’t that public servants are well off & secure, it’s that rest of society isn’t. Yes, we have a problem with wealth distribution. As per Piketty et al.’s work on inequality. Talk to the people installing your water heater in a non-Sticks town and ask them if they can afford a house anywhere in the city that they’re building.

While I’m firing off opinions, you think this (awful but small global mortality from a really bad flu virus) is bad? I mean, it’s bad, but have you oil patch yahoos ever had a hard think about the kind of economic ‘shocks’ that would happen if climate change unfolds as predicted?

(Cole’s Notes for our cherished Yahoos whose ears stop working when they hear the dreaded C words: it’s currently unfolding as predicted)

I’m still buying ETFs.

#206 Drinking on 03.27.20 at 9:24 pm

Sorry, forgot to add the link to the link I posted above; if it is posted!

https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1310039401

#207 I’m stupid on 03.27.20 at 9:34 pm

It’s funny how everyone loves capitalism when they’re making money, businesses especially. But as soon as shit hits the fan everyone loves socialism. Lol

#208 Sydneysider on 03.27.20 at 9:37 pm

The only people I see on the frontline are Filipina and Indian girls.

#209 Doug t on 03.27.20 at 9:49 pm

We are breeding a lazy population with all of this socialism – you think this country is doing poorly now just wait

#210 Doug t on 03.27.20 at 9:53 pm

#180 keep your rent

BS – my son lives in a punk house in Victoria with 5 others – they scrape by and have no intention of just pulling the pin on their landlord – the likes of you can go pitch a tent

#211 Al on 03.27.20 at 9:58 pm

“In other news, Boris Johnson tests positive. The treasonous globalist left wishes him death. Lovely people the left.”

It will be a cruel twist of fate if he passes… After suggesting to cull the heard. The easily abstracted has become very real for him.

#212 Wake Up Neo on 03.27.20 at 10:12 pm

One World Government soon to be here, folks. Never let a good manufactured crisis go to waste.

https://www.theguardian.com/politics/2020/mar/26/gordon-brown-calls-for-global-government-to-tackle-coronavirus

#213 crossbordershopper on 03.27.20 at 10:19 pm

it comes back to the major problem that Canada has that cannot really be fixed, Canada has poor managers, people who don’t really know business or have any ideal of insight, marketing idea’s, competitive idea’s, our productivity sucks, it really does.
so with no natural resources that you can have a competitive advantage, gone, and an over bloated civil service, and already 50% plus marginal tax rates at 200K Canadian(150K in real dollars). it could be down to 50% tax on over 100K, the deficits they are talking and the slow recovery to spring back from,
idk they might just take houses, seize assets, it could be real,real bad for anyone in Canada with assets and savings, but when I see hard working regular people do the same now, I am saddened , go to work , do without , suffer, suffer, and hopefully when you start living without, you will learn to start living without forever, and be responsible for your actions instead of relying on society, or blaming society, or that rich landlord, or that banker who was stupid enough to lend you 4x your income because you qualify under their system.
or that car dealer who said you deserve to drive that new car on payments till you die.
you don’t deserve it, you don’t even need it, we are all sold a bill of goods, labour will be worth nothing soon, I have worked and made big money at jobs, and I have run business made no money and worked my butt off, in the end labour isn’t worth anything, including mine. the truth about human life is that its fragile as we can see in front of us, and its relevant and very important to ourselves and our immediate family but society doesn’t care about us and it will be shown in no time.
I still remember the bum on the beach on the bench sleeping on Christmas eve in Hollywood beach florida, man he has it good.
the Chinese are playing games with the west, I remember a few years ago when they wanted to build a dam and some farmers didn’t want to sell our and move, the government flooded thousands of acres and killed 3000 people, look it up, you think they care about 3000 people, when we in the west, will move a mountain to save one.
interesting case in being played in front of us, when does trump order people back to work even if people are still dying in their town. Chinese have answered who their master is, they are asking us now I guess do we serve the almighty dollar or our society and its long term health and what is the exchange, 1% gdp for say 1000 deaths, 5% gdp for 10000 deaths, or 20% dorp for 100000 deaths. interesting question.

#214 yvr_lurker on 03.27.20 at 10:25 pm

I don’t understand why many have a knee-jerk extreme negative reaction to civil servants. Garth just fires up the crowd of disciples with his comment today. All the Gov’t needed to do was to establish some protocall and safety measures for those working in the offices and dealing with the public so that they can minimize the risk of exposure. These Gov’t workers on the front line would typically be spending longer with the average client than someone working the till at IGA. Put some plastic screen whatever, as the social distancing mandates applies to everyone. Do you want to spread the virus through these contacts, or do the rabid reactionaries here want all those people in the service centers to die off…

That being said, once some safety protocalls are set up, it should be the duty of these workers to really do their jobs and help the people get their benefits. Cancel vacation time, no BS…. all hands on deck.

For those that espouse the virtues of minimal Gov’t at all costs and let the free market make publc policy, please go and join Trump’s team in NYC.

#215 crowdedelevatorfartz on 03.27.20 at 10:39 pm

@#174 Sold Out
“Any one of you crybabies could’ve had a union job, good benefits and a pension. You didn’t make the cut. Suck it up. ”
++++

You comment made me smile.

I worked as a Union shop foreman in my early youth.
Until I stood up against management for my union “brothers” who filed grievances and I fought for them, and was stabbed in the back by their non support when the chips were down…..so much for “solidarity” :)

I was laid off, my “brothers” kept their jobs.

Year later, I now run a Union shop.
I hire, I fire, I do sales, logistics, management, on and on and on, 7 days a week.
I respect the skilled trades that work for me.
Experienced, smart, hard working.

But the endless, useless, bureaucrats that I deal with on a day to day basis from govt……. my god.
Kill me now.
Lazy, brainless, arrogant….
Are but a few of the repeatable adjectives I can use to describe the donkeys I must deal with.

My best suggestion for Mr Morneau
( if he’s reading this).
Fire ALL your white collar govt staff and let them re-apply with the private sector.
If it takes 12 months for them to acquire jobs…..who cares….the taxpayers wont notice any difference.

#216 Wait There on 03.27.20 at 10:39 pm

#165

When the virus exits your body it is on a large droplet and is absorbed into the inner layer. Your breathing should keep it moist and it will stick on the inside.

When the virus is in the air, the droplet starts drying and then the teeny virus itself will then float along and can come through the mask.

Now also remember that the mask buffets or spills the air you are breathing out, so there is much less throwing or spreading power once it is muffled by the mask.

#217 crowdedelevatorfartz on 03.27.20 at 10:42 pm

@#205 Trailer Sailor

Well done.
You made some excellent points.

#218 Doug in London on 03.27.20 at 10:44 pm

@TheYounGreek, post #130:
I would have no objection to paying more for gas and other oil products to help support Alberta’s economy if the Energy East pipeline ever gets built, which isn’t likely.

#219 crowdedelevatorfartz on 03.27.20 at 10:50 pm

@#198 Owl Eyes
“Although maybe there is a way more people – not just gov’t workers – can have some stability through some version of defined benefit?”
+++Yes.
The Australian Govt realized years ago that their population were a bunch of piss-up party’ers that would never save for retirement…..

https://www.benefitscanada.com/news/how-does-the-cpp-compare-to-australias-superannuation-funds-139019

I dont know how well its working but probably better than the “mac and cheese” pension most pay cheque to pay cheque Canucks are surviving on…….

#220 Lorne on 03.27.20 at 10:52 pm

#207 I’m stupid on 03.27.20 at 9:34 pm
It’s funny how everyone loves capitalism when they’re making money, businesses especially. But as soon as shit hits the fan everyone loves socialism. Lol
……..
Ain’t that the truth! Remember this people!

#221 Don Guillermo on 03.27.20 at 10:58 pm

#195 -=withwings=- on 03.27.20 at 8:53 pm
@148 not 1st
Also dishonest media shill Gov Cuomo exposed admitting lots of ventilators in storage.
Today they have 500 in use. Tomorrow 1000. Next week 4000. Week after 20,000. Week after that 40,000
They have 4000 in storage and 1000 in hospitals today. Do some math and see how many short they are going to be in three weeks…shill indeed, at least he can do math which el presidento appears to be incapable of.
@150 Don Guillermi

Alberta has had $600 Billion in the last 40 years moved into Federal coffers that Norway hasn’t to deal with (Alberta’s pop roughly 2/3rds of Norway’s).

So thoroughly debunked you should be embarrassed for even posting it. How about Alberta charges the same sales tax as Norway (25%+). How much could you have saved in your rainy day fund then? Extrapolate that

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

So sales tax is your answer? Let Canada rape us and then add a 25% tax. Debunked? Elaborate on that. You think giving all your money away and then charging sales tax works. YOU should be embarrassed. You ever been to Norway? Sweden? I have. You are the reason that Canada will never ever work again. Your wings will never fly! We are effed!

#222 Terry on 03.27.20 at 11:05 pm

Not much more to say on this blog. Just this, shutting down the worlds economies and businesses was a HUGE mistake. World leaders jumped in with decisions when they were ill advised from medical people who didn’t have all the facts. That’s what the world will find out in the months to come. Economic collapse was avoidable. Now we have it a little earlier than I expected thanks to Covid-19. Our economies were ready for collapse & reset. I mean really, how much longer did anyone who has been following financial and economic processes think this could really go on for? The DOW itself was in the process of a blow-off top just before the start of the crash. Now it’s gone. Multiple blow-ups and ancillary collateral crashes across all asset classes lie ahead not to mention civil unrest, disobedience and the final breaking down of law and order. The bottoming will take years. Re-building decades upon decades upon decades……….etc…..

#223 Doug in London on 03.27.20 at 11:07 pm

@I’m stupid, post #207:
My observations exactly. When everything was going well many business owners wanted lower taxes and less government interference. Now those same owners have their hands out looking for help from the benevolent government. I’m reminded of travelling around rural eastern Ontario and seeing a lot of signs that said: this land is our land, back off government. In the aftermath of the January 1998 ice storm in that area I wonder how many of these land owners didn’t want provincially owned Ontario Hydro to bother bringing in lines and forestry crews in from as far away as Thunder Bay to get their power back on? I wonder how many objected to the federal government sending in the army to help with relief efforts?

#224 Moses71 on 03.27.20 at 11:10 pm

Running a retirement home and being on the front line along with my amazing crew of +100 staff and +100 awesome residents, I would never dream to be anywhere else.
We’re an essential service and proud of it.
Not one sick person in my “house” & when I’m not at my 2nd home scrubbing and sanitizing for my older equals alongside my staff, I’m at home thinking about what more I can do at my 2nd home.
These 80+yr olds are more worried about the others in the world than they are for themselves. Selfless Silent Generation..we could learn alot from them.
I am fortunate.

#225 maxx on 03.27.20 at 11:13 pm

@ #391 yesterday

Sail Away, that was actually quite funny…..but do try to join humanity once in a while. Who knows, you might enjoy it.

#226 DON on 03.27.20 at 11:20 pm

Garth I made comment #182 before I read your post. How weird is that?

Judging by the comments section people are angry, and fearful.

All those able to work should do so and stay away from others in a respectful manner. BC started locking down our older folks in late Jan. Our count is down…hopefully it stays that way.

The Chimney Sweep called and asked if he could come for the scheduled cleaning. For sure you can buddy, I was glad he was still willing to come to prevent a fire (late in the season). More than happy to give him the service call. Just provided distance for him as we both have others to think about.

People need to calm down and live through this, lighten up and stop attacking each other and stick to the argument. I once was a blog pit bull but I learned from the older guys and gals. Garth even had to pull me off Devil’s Advocate once or twice. Let’s all work through and move on like we always do.

Have I called out Not 1st for the vaccine cure – citing a link from twitter and the wholely leader. No not at all! By the way can you call Trump and ask him to tan his eyelids and surrounding area, it is distracting.

Thanks Garth for all you do and have taught. Thank you commenters for the debate of ideas and reality. Big shout out to the front line workers in all industries, much appreciated.

But stop the regretful looks, I have clothes on.

#227 Bdwy on 03.27.20 at 11:26 pm

The bigger economic issue isn’t that public servants are well off & secure, it’s that rest of society isn’t. Yes, we have a problem with wealth distribution
……..
Exactly!

When money is openly TAKEN in taxes from the sobeys clerk or the apprentice water heater engineer and GIVEN to the ‘wrong’ civil servants in sick days, bloated pay for the work done, premium packages for life, iron clad job security and low expectations (of which the clerk has none), then yes , it’s a distribution problem.

#228 BS on 03.27.20 at 11:31 pm

Trudeau spent the last 4 years attacking doctors and small businesses making it difficult for them to save their own money within their corporation. Now he has to hand out free money at tax payers expense. Instead of the media bringing this up they fawn over the guy as he hides out.

#229 toronto renter on 03.27.20 at 11:36 pm

Is it really that hard to apply online? If they’re not an absolutely essential service, why require them to report to work?

#230 AntMan on 03.27.20 at 11:39 pm

@ #177 John in Mtl on 03.27.20 at 7:52 pm

I’m sure you’re right. They will be fine. The rest of us, not so much.

#231 K on 03.27.20 at 11:42 pm

As a fellow Government employee, I am embarrassed by the actions of the Service Canada staff. We collect our salary while on sick leave, and they are sitting at home when there are people who urgently need their service. It’s Embarrassing, where do these people go now ?

Garth, Thank you for holding these people accountable.

#232 Ponzius Pilatus on 03.27.20 at 11:45 pm

#369 Herb on 03.27.20 at 12:31 pm
Penny Henny,

I’ve done crack the code. Sail Away has undertaken to fill the creative vacuum while Smoking Man is away.
——-
Unless SA unleashes the power of JD, he will never match the creative genius that is Smoking Man.

#233 timis on 03.27.20 at 11:47 pm

#113 Anti Civil Servants on 03.27.20 at 5:57 pm
================

You pointed out that the store clerk has a plastic shield.
Answer: private enterprise took care of that. Government could not take care of that for their workers.
Less of them are needed as services are not provided.

The problem is not the civil services it’s the employer not providing a safe work environment.
I bet you $1,000 employees went to management and said can we have some protection from the virus
Answer: Provide proof they did this or provide proof of $1000 donated for gloves and masks for Service Canada employees

and the government said no can do!so they walked.
Answer: The only place they ‘walked’ is home. Still employed, still paid.

I bet you would do the same. Yes of course you would –
Answer: The store clerk or the truck driver could not ‘walk’ – that would mean they quit. Nobody quit from Service Canada

And for the millions out of work you should thank the civil service for getting your money out the door.
Answer: People get thanked for the work they do by way of a paycheque. Service Canada workers get also extra thanked by way of job security and pensions.
No extra thanks are needed, nor they will be given.

And guess what they will not get paid, who ever wrote that does not understand the government employee no work no pay.
Provide proof they will not get paid if they don’t work. One example will suffice.

#234 Ponzius Pilatus on 03.27.20 at 11:54 pm

#48 Penny Henny on 03.27.20 at 4:36 pm
Now, a note to Bill Morneau, the finance minister, who follows this pathetic blog (according to his staff):
//////////////

I wonder if he reads the comments.
———–
Of course, he does.
Popeye the Sailor is his favorite.

#235 BIG LEAFS FAN on 03.28.20 at 12:11 am

I say let people pull a fixed amount of funds , say up to $10K from RSP tax-free without a provision for pay-back. This is a pandemic folks . Time for some realistic actions from our elected leaders ….Billy and T2 have no idea how we real Canadians live day to day.

#236 Calgary on 03.28.20 at 12:43 am

Why are all the Service Canada offices were closed? They closed this essential service when it is needed most. Taxpayers pay fat paychecks. Fear of Covid-19 virus? Even Superstore, Sobeys, convenience stores are opened. Fire the whole lot.

#237 GOLDENBOY on 03.28.20 at 12:51 am

If the employee from Giant Tiger ($12 an hour) can still sell me a jar of pasta, Service Canada employees should be ashamed of themselves. Get them a plastic shield like the grocery workers and truck on. Shameful.

#238 Axehead on 03.28.20 at 1:04 am

Gas 59.9 ltr in Alberta.

#239 Nonplused on 03.28.20 at 1:12 am

#180 Keep Your Rent on 03.27.20 at 8:04 pm

Cheese and crackers dude, this thing has been explained a 100 times. You can keep you rent if you have a nice tent. If you want to live in someone else’s property, you need an agreement and follow it.

#240 Nonplused on 03.28.20 at 1:17 am

#204 Ronaldo on 03.27.20 at 9:17 pm

If people start flushing paper towels this problem will get much worse.

#241 Nonplused on 03.28.20 at 1:25 am

#195 -=withwings=- on 03.27.20 at 8:53 pm

Ya sure, but how does Alberta taxing more help Ontario? Alberta will be back because oil is indispensable. Ontario won’t. They have nothing to offer but some dairy farms all bought up by the corporate conglomerates.

#242 Ron Parpara on 03.28.20 at 1:27 am

Being in the real estate business, I’m seeing a definite impact which I talk about here:
https://www.ronparpara.com/Blog.php/vancouver-real-estate-february-2020-market-update

Many of my friends are waiting on the service Canada line for hours, then having the line cut out. Disappointing indeed.

#243 SmarterSquirrel on 03.28.20 at 2:06 am

#175 Ronaldo

I guess by your math you are arguing this time is worse. It could be worse than the last great depression. I don’t disagree.

#244 Franklin Mann on 03.28.20 at 2:23 am

Will Trudeaus “emergency benefit” application attestation force people to sell all assets like battered RRSPs and)or TFSAs , before they “qualify” for the so called “benefit??

Will Morneau force young people to sell at the very bottom? And if so what will happen? RRSPs will suddenly become taxable. selling TFSAs at depressed prices will lock in big losses for these hard pressed youngsters. Not only having list their jobs but possibly faced with big taxes at a time they can’t afford rent, and huge losses in life savings. Won’t this kill future investment from this hugely important demographic?

Trudeaus keeps saying the criteria isn’t ready to be published. Why? I hate to think.

#245 HH on 03.28.20 at 2:32 am

@ 174

“… Any one of you crybabies could’ve had a union job, good benefits and a pension. You didn’t make the cut. Suck it up. Keep telling yourself that wouldn’t want to join a club that would let people like you in.”

Gawd, what a bitter diatribe there. For the very first time, I, an elder millenial, feel like coming to defense of boomers you attack. (Feel like slapping the silly old farts normally.)

I, for one, made your so-called “cut” right out of college, landing a job with a crown corp. But so could most of my class, honestly. Didn’t take much. Google or Amazon this WASN’T. Got tired of boredom, BS, red tape and meagre prospects after a few years and left for private sector. More than tripled the income over the course of a decade.

It’s hard for me to understand and empathize with the personality type that would choose that kind of environment young and stay in it for life.

Requires absolutely clinical lack of ambition and zombie-like disposition. Not sure what it says about us, if we end up using such “job security at any cost” as definition of “success”.

Though I may not mind coming back to it, some day when I am too old and tired for honest work, to greedily milk both a decent pension and the portfolio built with my private sector loot.

Contrary to what you say, that option is actually always totally there for any private sector pros worth their salt.
I’ve seen *many* do just that – “retire” into a public job after a long time in private sector. Because private sector (aka “real life”) experience is actually quite valued and rather marketable in the public sector. Never the other way around.

Care to show me any examples of people successfully hacking it in private sector after more than a decade working for the government? Doesn’t happen much. And there are reasons for it. Both the personality type of someone who’d deliberately choose this life young and the long term corrupting/softening influence of that type of workplace tend to prevent it.

Best way I can describe difference between private and public sector folks to those who haven’t been in both is: animals who live in the jungle vs. animals who live in the zoo.

There are pros and cons to both lifestyles, and one must choose carefully…

But damn, it’s so funny to hear one of the zoo animals lecture the jungle beasties about how they wouldn’t “make the cut” at the zoo! Because the poor things’ wilderness survival skills are just not up to the high standards of their zoo-bred brethren, you know…

Thanks for a good laugh, man.

#246 Jane24 on 03.28.20 at 2:43 am

Garth you and I both know that allowing folk to asset strip their RRSPs now is a terrible idea. So many people now have no financial sense and the toy buying will recommence plus very few will ever have the means to repay the money in just 3 years so will get badly stung for higher taxes. After this is all over, govts everywhere need to come up with plans to encourage folk to individually save the that rainy day rather than spending the lot and borrowing still more.

Oil is finished. Here in Britain in 2030, that is just 9 years away, it will be illegal to sell new cars that run-on either petrol or diesel; has to be hybrids or solo electric. Soon it will be illegal to build new homes that rely on either oil or gas furnaces; must be green renewable heating. The market uses for oil are closing down fast. ALB and Canada have to diversify their economies asap or be left behind

#247 Wrk.dover on 03.28.20 at 4:09 am

Solar hot water backed up by grid tied solar electricity here on the compound. It all cost us equivalent of 17 years of power use at today’s power price which we prepaid all up front.

Factor in the same money could be in stocks instead and power bills may see inflation, how are we doing so far with having no monthly during these times and long into the future?

There is more in our balanced and well diversified portfolio than just a shoe box full of magic paper.

#248 WHAT? on 03.28.20 at 5:56 am

#59 Lefty on 03.27.20 at 4:48 pm

Tank or tankless water heater?
………………………………………………………………………………. New build or reno?

#249 Steven Rowlandson on 03.28.20 at 6:16 am

Don’t you love it how we all get treated like sick children, plague patients or sick puppies? Oh yes! No work, no bathroom,restaurant or library (wifi and recharge)privileges for you!
I still have not met anyone that was sick with the corona virus.

#250 Mr Canada on 03.28.20 at 7:27 am

“A note to the 3,360 federal civil servants with job security and defined benefit pension plans who staff the 317 Service Canada centres across the nation where folks go to apply for benefits in times of crisis: you deeply disappoint us”
********************************************

Neither Civil or Servant

#251 SquareNinja on 03.28.20 at 7:28 am

If grocery store workers who make minimum wage and minimal benefits must continue to serve, Service Canada employees, who receive at least triple the pay and benefits, could sacrifice just a little, eh? Oh, I forgot, it’s a government job! Their rules are different!!

#252 Howard on 03.28.20 at 7:33 am

#211 Al on 03.27.20 at 9:58 pm
“In other news, Boris Johnson tests positive. The treasonous globalist left wishes him death. Lovely people the left.”

It will be a cruel twist of fate if he passes… After suggesting to cull the heard. The easily abstracted has become very real for him.

————————————-

Except that he never once suggested that.

Meanwhile Trudeau actually gave away our medical supplies to China a month ago.

https://nationalpost.com/opinion/laura-tennant-consumers-didnt-cause-the-mask-shortage-governments-did

#253 Jean on 03.28.20 at 7:33 am

Folks seam to forget that as recently as 2011/12 Steven Harper slashed and burned the public service. Many friends and colleagues lost their job and the private sector cheered. Some areas were cut by as much as 70%. Now that the private sector is falling apart (temporarily), the public sector is still being blamed.

The public service is still grappling with Phoenix and many aren’t getting paid accurately or at all, yet still do the work each day to deliver on services for Canadians.

This has been the story for us for close to 10 years. Not all sunshine and rainbows.

Link to 70% public service staff reductions? – Garth

#254 Bezengy on 03.28.20 at 7:44 am

We were the total debt doesn’t matter, it’s all about the dept to GDP ratio. So with that metric now being shot to hell, what say we just go with a “Happy Meter” to measure how the country is doing. The “Happy Meter” is at 9 today, all good, carry on.

#255 Pgljoy on 03.28.20 at 8:24 am

After wading though all the comments.I thought “so much bitterness so little time”Would like to send kudos to our local government here in Elliot Lake Ontario.They Started a program with local grocery stores .Where if you are a senior with comprised health or have no one to shop for you.They will have a government employee shop for you just call them with your list 20 items or less enough for 3or 4 days of living and which store you want to get the food from and they will get it for you. Drop at your front door and send you a in bill for the groceries.With no added charges ie delivery etc.
I thought what a smart ideal it keeps nonessential employees working, seniors safe and shows a community looking out for each other.

#256 Bytor the Snow Dog on 03.28.20 at 8:37 am

#180 Keep Your Rent on 03.27.20 at 8:04 pm sez:

“Tenants keep your rent.

Landlords keep your distance.

5 days until tenants get to demand respect.”
————————————————————–
The last thing you’ll be getting is “respect”.

#257 cto on 03.28.20 at 8:38 am

ICE condos, banning Air b & B!!!

How many units in ICE?

the article also says there are scores of other condo boards that may follow due to the dangers of covid 19
and transient residents.

https://www.toronto.com/news-story/9916377–risk-of-danger-to-residents-prompts-some-toronto-condos-to-ban-airbnbs-amid-coronavirus-crisis/

#258 T. on 03.28.20 at 8:40 am

” Most important question when buying an item will be: “How long is it going to last?””

100%, the Chinese Virus already has a long list of impressive achievements and it hasn’t even gotten started here yet!

-toppling globalism and paving the way for domestic manufacturing resurgence
-showing up China for the horrid place it is
-swelling support for some variant of UBI
-highlighting the foolhardiness of living densely-packed in cities
-massive public spree on guns n’ ammo
-showing families everywhere what a boon it would have been to have one of the parents at home instead of now having tk struggle to find childcare
-today I even read it’s shuttering women’s sports!

Is there anything the Chinese Virus can’t do???

#259 Matthew Salkeld on 03.28.20 at 8:41 am

My letter to the PM and Bill Morneau sent this morning:

The government and the media need to evaluate some basic facts and numbers to see how costly, disproportional and irresponsible the covid response is becoming. I appreciate the response we have carried out especially the air travel bans, but now that we can see the small risk and impact we need to adjust down the response and get people and the economy back working.

I would like to add the link for the flu statistics here https://ipac-canada.org/influenza-resources.php Keep in mind that normally up to 1,500 Canadians die per year from flus including children. Flu was already a serious health risk in Canada.

To provide some context we should look at Canada’s health care budget at around $264 billion per year or $7,000 per citizen. Around 64% to 70% of that is government funding. https://www.ephpp.ca/healthcare-funding-policy-in-canada/

Now the government has proposed an $80 billion stimulus package for covid. Can you please provide an estimate of how many lives that will have saved as a result of the measures being carried out today?

Let’s imagine we could save 200 more lives with the covid measures in place today over milder measures where normal economic activity continued. The proposed stimulus spending will cost us $400 million per life saved. Or if we saved say 2,000 lives, the cost per life saved would be $40 million. These lives saved would typically, according to the published statistics, have 1 or 2 more years of life remaining but perhaps less.

Putting this in context, approximately 260,000 Canadians die per year. Keep in mind that normally up to 1,500 Canadians die per year from flus.

Does your government believe it is practical, reasonable, defensible or legal to spend $40 million to $400 million per individual life saved?

Let us now also consider the cost impacts to the Canadian economy. If the Canadian GDP is approximately $2.3 trillion and we lose 4% of the GDP in 2020, that will be another loss of approximately $90 billion or an additional $45 million to $450 million per life saved.

This situation is quickly becoming a war on millions and millions of normal Canadians, the Canadians who pay for the health care system and create employment, and I guess especially on the working poor who likely had less job security and were laid off the fastest. As I mentioned earlier, Canadian charities are now reporting a shortfall of $10 billion that is used to support the most needy Canadians.

Sincerely,

#260 MF on 03.28.20 at 8:41 am

Anyone want to see the real world?

Look at how the Indian police are enforcing the quarantine:

https://mobile.twitter.com/90sMariah/status/1243370561973215234

MF

#261 MF on 03.28.20 at 8:44 am

Looks like there is some swear words on the twitter page i posted.

Just a heads up.

MF

#262 maxx on 03.28.20 at 8:48 am

@ #45

Getting benefits to people in dire straights IS an essential service. They should collectively get their a$$es the he!! back to work – AND be forced to put in overtime.

#263 T. on 03.28.20 at 9:00 am

DELETED

#264 Dharma Bum on 03.28.20 at 9:01 am

Surprisingly, people who have clinical anxiety are managing this storm well, they have tools to mange fear-based thinking.
——————————————————————–

Kind of like when the lights go out, the blind person already knows how to deal with it.

I know. I’ve seen it in the movies.

#265 Glen Margaret on 03.28.20 at 9:02 am

Dunno about increasing wealth gap, but I know that this gov’t spending will cause more taxation. Increase sales tax? Wealth tax?
A cap in government pensions?

Good job Garth, I read you almost every morning.

#266 Reality is stark on 03.28.20 at 9:09 am

The numbers I hear regarding crossing the land border from Maine, Vermont, and north east New York will be in the range of 100,000-250,000. They will all be sick.
Trump and Cuomo do not agree on much, however they expect the Canadian government to provide medical service to these people.
Our federal health officials should be wary of telling the people that we are flattening the curve. That means resources will be available.
Sorry but New Yorkers are not going to be left to die while we have resources “available”.
Do not expect any hospital service in a couple weeks even if we do a good job containing the virus.
The virus is coming here “en masse” despite your responsible efforts.
DON’T GET SICK!

#267 TurnerNation on 03.28.20 at 9:14 am

#259 Matthew Salkeld a decent effort but the UN and the WHO are running this world now. Wrong address.
Few years ago I heard that all our local mayors are on board for ’21. Indeed they are, eagerly they shut down. It is all behind the scenes and their actions are revealing.
Don’t believe me just watch it unfold.

#268 Matthew Salkeld on 03.28.20 at 9:18 am

Pandemic to date is one of irrational fear whipped up by the media. Deaths are still well within normal annual flu deaths. Flu has always been a serious health risk in Canada with up to 1,500 deaths a year including children.

The ensuing economic collapse will make covid seem like a Sunday picnic. Maybe we will learn to be more courageous after, and not so pathetically fearful.

#269 Sail Away on 03.28.20 at 9:25 am

Apocalypse preparation

One of the simplest ways to get food in the early days will be urban wildlife. Let’s talk rabbits. There are a few ways to go about it depending on your personal squeamishness.

Spring snares and bodylock traps will kill the animal but will also take care of the odd cat. Which is also edible, of course. White meat like turkey, strangely. Live traps are ok, but can result in unwanted attention and trap theft.

Be prudent and carefully husband the resource, allowing areas to rest between reapings.

#270 Dharma Bum on 03.28.20 at 9:30 am

#124 Re-Cowtown

Kind of like telling your kid repeatedly to not eat yellow snow.
——————————————————————–

Like this:

https://www.youtube.com/watch?v=TLIppgE45wM

#271 Dharma Bum on 03.28.20 at 9:36 am

I think it is time for the psychotic bible thumping cohort out there to revise their precious scriptures to read:

“The LACK of money is the root of all evil.”

That would be at least one improvement to the book.

#272 Mau on 03.28.20 at 9:36 am

“It’s sad but inevitable the wealth gap will be far wider when this sucker has passed.”

Please elaborate.

#273 Dharma Bum on 03.28.20 at 9:39 am

#269 Sail Away

One of the simplest ways to get food in the early days will be urban wildlife. Let’s talk rabbits. There are a few ways to go about it depending on your personal squeamishness.
——————————————————————–

I prefer a shotgun.

More flexibility.

If you don’t mind picking the odd pellet outta yer teeth.

#274 Not So New guy on 03.28.20 at 9:56 am

DELETED

#275 David Hawke on 03.28.20 at 9:59 am

#178 thanks for posting a link to the truth WUL.

https://www.nationalobserver.com/2018/11/14/opinion/quebec-oil-stats-undermine-canadas-denial-brigade

#276 crowdedelevatorfartz on 03.28.20 at 10:34 am

@#245 HH
“Care to show me any examples of people successfully hacking it in private sector after more than a decade working for the government? ”
++++

Insightful comment.
I worked for a company that was purchased bt SNC Lavalin.
ALL the managers were ex-Federal Govt Employees that had ‘retired” and gone into the private sector….

They loved their meetings,training sessions and emails.
Not much else was achieved.
I lasted about a year under the new company and left in disgust. 20 years senority, 5 weeks holidays, full benefits and pension, poof, gone.
My sanity was worth more.
Most of my coworkers did the same….with the exception of the boot-lickers and dullards, they stayed….
The result?
4 years later, SNC lost the contract, terrible service, lackadaisical work , etc etc etc.
Another company run into the dirt by ex govt employees that couldnt hack it in the real world.

#277 Sold Out on 03.28.20 at 10:36 am

#273 Dharma Bum on 03.28.20 at 9:39 am
#269 Sail Away

One of the simplest ways to get food in the early days will be urban wildlife. Let’s talk rabbits. There are a few ways to go about it depending on your personal squeamishness.
——————————————————————–

I prefer a shotgun.

More flexibility.

If you don’t mind picking the odd pellet outta yer teeth.

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

Who’s gonna pick the 9mm rounds out of you when the police bring out the MP-5?

Elmer Fudd, meet ERT.

#278 Not So New guy on 03.28.20 at 10:46 am

#31 CJohnC on 03.27.20 at 4:16 pm

Gas is still $105.9 in Ladner BC

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

Yup. Some days, when they are feeling benevolent, it drops to 96 cents

#279 Notagreaterfool on 03.28.20 at 10:55 am

I like the idea of allowing those in need to withdraw from their RRSP.

In regards to funding these bail outs by the federal government, could it take a loan from the CPP and pay it back over 30 years as an example? Future budget surpluses can pay that off? Why push the bill to tax payers? Thinking out loud. Would this be a more cost effective solution?

#280 maxx on 03.28.20 at 11:11 am

@ #66

Agree. I also think that this mess is plastic, not elastic….at least not 100%.

Behavioral fallout’s a long-term witch.

#281 OK, Doomer on 03.28.20 at 11:14 am

#248 WHAT? on 03.28.20 at 5:56 am
#59 Lefty on 03.27.20 at 4:48 pm

Tank or tankless water heater?
………………………………………………………………………………. New build or reno?

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

I’ve had both. Tankless is a cool idea, but very expensive and hot water takes FOREVER to get to the tap. The system went on us and cost $$$$ to fix. Plus you waste a lot of water waiting for the hot water to show up.

Tanks are energy inefficient, but cheap and hot water is there, NOW.

By the time you add up all the costs, tanks are cheaper, less hassle, simpler and you get hot water right away.

Sorry tankless guys, but sometimes the older tech is just better.

#282 Tudval on 03.28.20 at 11:14 am

#1 Housing crash?? Not a chance. Nobody in their right mind will sell you a detached house in Toronto as people are stuck in their million dollar penthouse afraid to take the elevator. You may get a chance to buy one of those for cheap though, if you’re brave enough.

#283 Aidan Gannon on 03.28.20 at 12:12 pm

Speaking of civil servants not stepping up to the plate. Now CFIA inspectors are refusing to show up for work, shuttering meat packing plants and jeopardizing the food supply chain.

#284 marnic on 03.28.20 at 1:27 pm

#277 Sold Out…

Who’s gonna pick the 9mm rounds out of you when the police bring out the MP-5?

Elmer Fudd, meet ERT.

_____

Now THAT is funny, well done!

#285 Ronaldo on 03.28.20 at 1:53 pm

#243 SmarterSquirrel on 03.28.20 at 2:06 am
#175 Ronaldo

I guess by your math you are arguing this time is worse. It could be worse than the last great depression. I don’t disagree.
——————————————————————
Much, much worse. Imagine if transportation were to come to a hault for just a few days and the food supplies ran out. Where would they run to?

#286 Looney Baloney on 03.28.20 at 6:37 pm

“…after the workers refused to work.”
Why are they still getting a paycheck? They should be laid off and forced to apply for EI like everyone else so they can get a taste of their own services.

Also Mr. G could you please post the results from your poll the other day on readership by province? I’m curious what % of blog dogs are expats like smokey and myself.

#287 Eliza on 03.29.20 at 12:13 am

Provincial gov’t worker here – still working and rolling out all the emergency funding programs. We are overwhelmed but doing the best we can. Please be patient.

#288 Ottawa citizen on 03.29.20 at 11:17 am

Finally, a note to the 3,360 federal civil servants with job security and defined benefit pension plans who staff the 317 Service Canada centres across the nation where folks go to apply for benefits in times of crisis: you deeply disappoint us. This week the government locked the doors of every single centre, employees on the inside, citizens on the outside after the workers refused to work.
—————————————————————————————
If the government had been prepared, and if the government hadn’t given 16 tons of medical supplies to China, just maybe these civil servants would have had PPE to wear to deal with citizens. Why would anyone (including civil servants)want to deal face to face with anyone if they can’t wear PPE? I wear a N95 mask and gloves when I have to grocery shop, or engage with the public, and I expect the government to set a proper example by doing the same.
At least the police, fire, and hospital workers are given PPE to wear.
Citizens not wearing PPE, dealing with civil servants not wearing PPE, will only spread the virus further.

#289 Mehdi Amor on 03.31.20 at 9:34 am

I’m so appaled by the attitude of Servie Canada employees. According to the name of their employer, they’re at our SERVICE. This is selfish, shameful and we sure won’t forget it.