Morals

Should you take money the government offers, even if you don’t need it?

That, of course, was the debate yesterday as this blog slipped from chatter about canines, balanced portfolios and manly haircuts into the churning waters of ethics, morality and angst. Applications for the emergency benefit continue to pour into Ottawa and it’s possible an astonishing third of the entire workforce will ultimately stick its collective paw out. The tax consequences of this could be Biblical. We shall reflect on those soon. Ready your special underwear.

In the last 24 hours the steerage section has been in open revolt. Cries of ‘we want our two grand, or you die’ have been ringing out from below. But is this reflective of the way most people feel? How about the survey that was posted here? Are people feeling responsible, or just greedy? Well, you may be surprised. Results in a minute – and thanks to the 5,881 readers who chimed in.

First, an update. Ms.Virus is meeting her match, but taking a toll.

The cases continue to pile up. NYC is a mess. Two million people have been infected globally. Most hotels in Canada are closing. The unemployment rate in Banff is 85%. Lobsters are down to $5 a pound. Used car prices are expected to plunge as inventories pile up. The real estate market is comatose. Air Canada and Westjet are living off government payroll pogey, but all those Airbnb hosts are twisting in the wind. Eight hundred thousand hospitality workers are out of a job, and will be the last ones rehired. Mortgage deferral applications are trailing away, but 600,000 families have asked for it. And the latest confidence index has crashed faster than Drake’s credibility after his latest video (I mean, dude, is this really the time to prance around your mansion? Even if you had talent?).

Pollster Nik Nanos found people are more bent out of shape than at any time since 2008 (when the surveys began), and real estate is a big reason. Over 40% now expect house prices to drop – a stunning change from one month ago when just 13% anticipated a decline. And, yikes, 80% say the economy will get worse over the next six months – 20 points higher than during the 2008 crash. Meanwhile another survey shows 9% of homeowners in Canada anticipate being unable to pay their mortgages – despite deferrals by the banks – if things don’t snap back in three months (which they won’t). Compare that with a 0.5% mortgage default rate in the 2008-9 crisis. And, wow, 45% of homeowners in Vancouver say they’ll be unable to make their payments in May. (By the way, the city reveals it’s probably going bankrupt if enough owners welch on property tax.)

Okay, so people are in a deep funk. But not your portfolio. After a best-in-45-years romp last week, financial markets continue to chug higher. Goldman Sachs and JP Morgan say the bottom is in the rearview. Yes, earnings will suck and the economy’s cratering with millions of people watching Netflix and eating Cheetos in their skivvies, but investors are positioning for the recovery. It will come. Pandemics are temporary. They pass. The sun will return.

And this brings us to the questions posed here yesterday. Will you take Ottawa’s virus pogey? Even if you need it not?

What can I say? I am so proud of you. Well, most of you…

275 comments ↓

#1 THE DEBT LOVER on 04.14.20 at 2:53 pm

How do companies manage to pay DIVIDENDS when there in DEBT??

Integrity? Ethical?

Then go and ask the Government for a bailout just to get in more DEBT to pay more Dividends??

#2 Emile on 04.14.20 at 2:54 pm

Free Money? The only free cheese is in the trap :p

#3 Jager on 04.14.20 at 2:54 pm

During (and since) the last GFC in 2008 central banks injected money directly into financial assets. Most asset classes (Stocks, Commodities, Bonds, Real Estate etc.) bubbled to a value of well over 325 Trillion dollars. The investor class benefited handsomely from QE especially the very wealthy. (Forget the Lear jet. It’s now 15/20 bedroom luxury yachts replete with helipad).

The balance of society not so much. They were left to suffer the debilitating effects of falling wages relative to inflation (currency deflation). Consider the working poor who now keep the grocery stores and delivery services operating during this (bubble pricking) pandemic.

What goes up gentle reader must eventually come down. Everything has a natural rhythm which can only be defied temporarily. The longer the subversion the greater the resultant distortions until finally the natural rhythm is once again achieved.

#4 Stephen on 04.14.20 at 2:57 pm

If you lose your job because of COVID-19, as if only 15% of us are taking money from the government whether we need it or not. Looks like a lot of people are just trying to please Garth lol. You’ve got some people brainwashed Garth, time to run for office again lol

If these same people got laid-off under normal circumstances would they also not apply for EI? haha. People can’t even be honest when its anonymous

#5 Bruce on 04.14.20 at 2:58 pm

Hope for the best, plan for the worst

#6 Silent the people on 04.14.20 at 3:18 pm

Trudeau says the budget will balance itself! Don’t worry!
Money for nothing and chicks are free….

#7 broader mind on 04.14.20 at 3:18 pm

Let’s sing ” glorious and free”

#8 Phylis on 04.14.20 at 3:22 pm

YOLO. Thanks drake for infecting young minds. I remind the youngsters that drakiepoo can afford yoloing. They cannot.

#9 Lesser Ape on 04.14.20 at 3:26 pm

I fall into the “Do not need the CERB money, and will not take it” category, but that’s because, as far as I can tell right now, I’m not legally entitled to it, and so trying to claim it would be fraud.

If I were legally entitled to take it, I’d certainly take it. There are plenty of times that the government screws over me in a way that’s 100% legal when it comes to taking money from me, and I have no real recourse in such situations.

So, I would show no hesitation to make back a fraction of that money back if I were legally entitled to it. It’s clear that the government cares about what’s legal, not what’s right, so in dealings with the government, I’m fine with adhering to that same standard.

#10 Leftover on 04.14.20 at 3:32 pm

Direct quote from a good friend and successful Vancouver realtor (yes, it is possible):

“$2 million is the new $4 million”

#11 Karl on 04.14.20 at 3:32 pm

Stephen,
The question asks that if you do NOT need the CERB money will you take it anyhow.
If you loose your job, as you state, then most likely one would need it.

I think most people answered the question truthfully.

#12 Boring 30 something on 04.14.20 at 3:34 pm

I guess my question is, what does not needing the CERB mean? My husband lost his job 3 weeks ago. My pay has been reduced by 15%. He applied for EI when he was laid off and it appears that he got the CERB. Technically, we are fine, we have a decent emergency fund and low costs, so should we not have applied for EI? We could be able to last on just my reduced pay but we wouldn’t be able to do much more than groceries, bills and rent. With the extra money paying part of our expenses, I’m able to donate to our local food bank and homeless shelters, buy some food from local restaurants and spend on gift certificates for local stores I don’t want to fail. Obviously, I’m not applying for any money myself, but it makes sense for my husband to do so when he’s lost his job and it keeps money circulating locally

#13 Howard on 04.14.20 at 3:37 pm

I can’t stand Drake’s “music” but considering how massively popular he is, it’s a bit harsh to say he doesn’t have talent. Even if the talent is for performance art and generating favourable publicity rather than actual music.

#14 NoOneOfConsequence on 04.14.20 at 3:38 pm

Is it time to sell my “stack” yet…?

oh yeah…I forgot…one never sells their shiny rocks…

#15 Dave on 04.14.20 at 3:40 pm

Garth, at what income level should one refuse the child care benefit or the GST/HST rebate for that matter? I mean if you qualify for it but don’t really need it, you really shouldn’t accept it, right??

#16 Abby on 04.14.20 at 3:41 pm

There lots of behavioural research that shows users lie on surveys. They prefer to boast about their behaviour. Social acceptance.

Just sayin.

#17 KNOW IT ALL on 04.14.20 at 3:42 pm

Never mind the money……

Read and listen to some of the stories about husbands and wives having to leave their spouses in the hospital and not able to touch, talk, or see them ever again as they slowly die alone.

This is absolutely heartbreaking and devastating.

We can make more money…..that’s a fact.
But a life lost can never be anymore than a praised soul.

RIP to all those lives suddenly taken from this disease.

#18 YouKnowWho on 04.14.20 at 3:43 pm

$5 a pound for lobsters?

Where?! I need 6 right away, I have empty rolls ready.

My Mom talked about currencies collapsing. We’ve lived through one or two. It’s certainly not out of realm of possibility. If my Mom is talking about it, there maybe something to it.

#19 Dolce Vita on 04.14.20 at 3:47 pm

That news from Vancouver about the 45%, is it the same in other parts of Canada?

I mean if by Summer Canada starts to reopen the economy it will happen in phases like they are trying in Europe (Spain, Italy) and that will add a few months to the process.

I worry that many will not make it until then. I mean, then what happens? A man made recession that just continues on after the C19 made recession?

Whoah. I was a lot more hopeful until I read today’s Blog.

One good thing, it’s nice to read the vast majority that come to read this Blog every day are straight shooters, honest and decent people. That’s the type of a community I want to be a part of.

Nice, real nice. The right stuff.

#20 Mark Moretti on 04.14.20 at 3:49 pm

The cognitive dissonance on this blog is breathtaking. Somehow EVERYTHING is a disaster but the market powers on toward a ridiculous all time high because the market is “forward thinking.”

Yeah Garth, forward thinking about stimulus. That’s all it’s thinking about. That’s why it doesn’t care about lost jobs, closed businesses, falling house prices, disastrous earnings, etc. It doesn’t care because it lines up for government pogey.

The folks on here who say “ignore maple” want to bet on the US markets. Why? Government bailouts. The US Fed hands trillions to corporations, to banks, airlines, etc. Stock prices move up, you guys rub your hands with glee. Don’t you care about future generations?

Garth, you and your clients and anyone else who derives a significant portion of income from the markets relentless move higher are direct beneficiaries of government pogey. Stop moralizing over $2000.

#21 Marco on 04.14.20 at 3:52 pm

soylent green is people

#22 Howard on 04.14.20 at 3:52 pm

Hard to rationalize the results of the third question. If you honestly qualify for the CERB (in my case, I don’t), why not take it? I don’t see a moral dilemma.

Some of the respondents might have thought you were speaking of those who don’t qualify for the CERB but collect it anyway (i.e. fraud).

#23 Not my Elephant on 04.14.20 at 3:53 pm

Individuals are taken care of even though it sounds like people who don’t need financial assistance will take the CERB anyway. Yet a lot of small businesses that paid taxes don’t qualify for any of the Emergency Relief Programs. https://www.cbc.ca/news/business/small-business-loans-ceba-1.5526549

Again T2 likes the headlines stating he’s helping small business. However a not so deep dive into the programs show small businesses that do need the CEWS or loan aren’t eligible for anything. How does the government expect to recoup this emergency spending and address the deficit if there are fewer small businesses? Less employers = less employees = less tax revenue. This government is completely clueless.

#24 mitzerboyakaQueencitykidd on 04.14.20 at 3:53 pm

Wow
this pandemic thingy
is sure showing some people’s true colours.

#25 HandyAndy on 04.14.20 at 3:54 pm

It is great to see in your poll that most people who don’t need the CERB are not going to take it. I am not as optimistic as some in regards to a financial recovery. Maybe the stock market will go up Garth but the reality is I truly believe my kids futures (14 and 16) will see a decline in their ability to make a decent living and will have a lower standard of living that I am blessed to have (and I’m just a ham and egger blue collar worker). Governments around the world have kicked the can down the road for far too long. This pandemic is not only a financial shock to every country in the world. Every level of government. Every company (except maybe Amazon and Zoom lol). Every household. It has also unleashed a new Cold War with China and the west. It had already started but this event has exponentially moved the pawns on the chessboard. I think we will all miss the good old days! Thanks again Garth for the blog it is great.

#26 Covid Kashoggi on 04.14.20 at 3:55 pm

Ah like all good Canadians – step right and take it, and take it, and again… and again…

#27 Scott on 04.14.20 at 3:56 pm

What’s the difference between taking the 2k a month now if you qualify and don’t need it to survive as opposed to taking OAS which Garth has scoffed at the idea of not taking?

#28 Not Afraid on 04.14.20 at 3:59 pm

I believe the poll results are accurate for this audience. Most of the readers– at least the normal ones– are here because we’re financially responsible and want investment advice. The other 20% are trolls.

#29 Sold Out on 04.14.20 at 4:00 pm

#375 Sail away on 04.14.20 at 2:31 pm
In all walks of life, one can find giving, caring, altruistic individuals, who work for the love of the job and the furtherance of humankind.

Sometimes, these laudatory examples of evolved sensibility toil for free, selflessly donating their salary to charities in the interest of serving the greater good and encouraging the good work of others.

Standing tall among these kings of humanity and paragons of virtue, we find none other than the great man himself:

Donald John Trump

xxxxxxxxxxxxxxxxxxxxxxxxxxxxx

Welp, you can’t say Americans didn’t get their money’s worth out of Cult #45.

If presidents are defined by the crises they encounter in office:

US = 3.91% of world population

US = 30.5% of Covid19 cases

US = 20.3% of Covid deaths

Makes George W. look good.

#30 Ed McNeil on 04.14.20 at 4:01 pm

The markets are not in free fall because the various governments are propping them up with tax payers money. This will not last; how can they continue upward with a catastrophic unemployment rate?

#31 I’m stupid on 04.14.20 at 4:05 pm

Well an update to my truck problem. So apparently I can’t buy another vehicle no matter how much money I have. Service Ontario is closed because it’s not essential (go figure) so ownerships can’t get transferred and plates can’t be issued or transferred. Since I can’t do any of the aforementioned things I can’t get insurance.

How in the hell can society survive like this? All those service Ontario people are sitting at home collecting full salaries while guys like me are still trying to make a living but are being severely impacted because we can’t buy vehicles for work. So yes I’m taking the 2k a month!

#32 Keyboard Smasher on 04.14.20 at 4:10 pm

Emailed Andrea Horwath, my MPP, to let people return to work now that the fear of running out of capacity at the hospitals has ceded.

Sweden is a dramatic example of a terrific overreaction that may have done more harm and prolonged the pandemic.

#33 Frugal Xennial on 04.14.20 at 4:11 pm

I notice that you haven’t mentioned that while eligibility is not being verified upfront in order to streamline dispersal of funds to those actually needing help, people will be expected to pay CERB back next year as part of taxes if they determine you weren’t eligible after all. So how stringent is that eligibility? Will some of the greedy ones be repaying their “free” money?

#34 oh bouy on 04.14.20 at 4:12 pm

@#30 Ed McNeil on 04.14.20 at 4:01 pm
The markets are not in free fall because the various governments are propping them up with tax payers money. This will not last; how can they continue upward with a catastrophic unemployment rate?
-_____________________________

maybe because the current unemployment rate is temporary?

#35 James on 04.14.20 at 4:12 pm

#29 Sold Out on 04.14.20 at 4:00 pm

#375 Sail away on 04.14.20 at 2:31 pm
In all walks of life, one can find giving, caring, altruistic individuals, who work for the love of the job and the furtherance of humankind.

Sometimes, these laudatory examples of evolved sensibility toil for free, selflessly donating their salary to charities in the interest of serving the greater good and encouraging the good work of others.

Standing tall among these kings of humanity and paragons of virtue, we find none other than the great man himself:

Donald John Trump

xxxxxxxxxxxxxxxxxxxxxxxxxxxxx

Welp, you can’t say Americans didn’t get their money’s worth out of Cult #45.

If presidents are defined by the crises they encounter in office:

US = 3.91% of world population

US = 30.5% of Covid19 cases

US = 20.3% of Covid deaths

Makes George W. look good.
_________________________________________
Hell even Richard Milhous Nixon looks good.

#36 neo on 04.14.20 at 4:18 pm

#30 Ed McNeil on 04.14.20 at 4:01 pm
The markets are not in free fall because the various governments are propping them up with tax payers money. This will not last; how can they continue upward with a catastrophic unemployment rate?
*********************************************

You are mistaken. The US Treasury stimulus is debt to be paid by taxpayers future earnings.

The Federal Reserve is a separate institution from the US government. The money they are backstopping Wall Street with is printed out of thin air and is cash not debt like the Treasury and isn’t necessary being paid back. It is backfilling the gaping holes in the credit markets.

#37 Frugal Xennial on 04.14.20 at 4:18 pm

Re #27 Scott on 04.14.20 at 3:56 pm
“What’s the difference between taking the 2k a month now if you qualify and don’t need it to survive as opposed to taking OAS which Garth has scoffed at the idea of not taking?”

The difference is that (in theory) OAS is pre-funded and you’ve been paying towards it throughout your life (or rather each generation supports the previous one). CERB on the other hand is essentially magical money that was never budgeted for and will impact other current spending and need to be post-funded. AKA more cuts and taxes.

#38 Mark Moretti on 04.14.20 at 4:19 pm

#30 – Ed McNeil

Markets move up because they are “forward thinking.” Haven’t you heard, all this calamitous news was already forward thought of. We dealt with it. Now up she goes!

Doesn’t matter about earnings, or lack of jobs, fundamentals at all really, look forward to government stimulus to propel stocks higher. We call it stimulus, not pogey you see. Big difference when corporations get the cash.

Get on board, make some honest money in the stock market and sneer at the unwashed “moisters” who just want government pogey. Those losers don’t realize how their $2000 is destroying the future.

#39 Not So New guy on 04.14.20 at 4:19 pm

We can’t test everyone at this point but what I think would be wise is for the testers to get together with pollsters. They could come up with a random sampling of the population that they could test that would give them a good idea of what percentage of the population is already infected

If they can do it with other polls they should be able to figure out how many of us already have the virus

19 times out of 20 :)

#40 neo on 04.14.20 at 4:22 pm

So now that there won’t be school on May 4th does that mean teachers salaries will be taking a haircut. According to their contract that should kick in on May 1st but somehow I suspect they will continue to get full pay for sitting around doing nothing….And yes..I am including this “online learning” mailing it in fiasco as not teaching at all.

#41 Timmy on 04.14.20 at 4:25 pm

50% of the respondent’s finances have not been negatively effected because of the pandemic? This is unbelievable, unless they had their entire portfolio in cash. I can’t take this seriously.

#42 Timmy on 04.14.20 at 4:27 pm

Garth,

you talk about being financially literate and responsible for one’s finances. That’s fine for those of us who have good paying permanent–whatever that means–jobs, but how come no one is asking the question that as one of the richest countries in the world we have so many young people in precarious low paying jobs that are unable to save much, regardless of how frugal they are?

#43 Handsome Ned on 04.14.20 at 4:27 pm

When my Dad went overseas during ww2, the army placed him in office duty because he had taken some business courses. He spent the war safely riding a desk, going to pubs and chasing skirts. When he returned to Canada, he turned down all the veteran benefits. He felt they should only go the guys who were in harms way. When he retired people were allowed to double dip; taking a year of EI, or as it was then known UIC. He turned it down because he didn’t need it. Maybe he was a sucker, or part of the greatest generation.

In my day I knew lots of guys who wintered in Whistler on the “UIC ski team”. Maybe they were not all that clever. They all regretted not buying prime Whistler lots for 2 grand. They go for a million now, but maybe next year 2000 again.

#44 Penny Henny on 04.14.20 at 4:28 pm

Hey Smoking Man, let me know when you see a reversal in the up trend.
Thanks

Did you watch the video I sent you?

#45 dorlo on 04.14.20 at 4:35 pm

Thank you for the survey results. The comment
section yesterday was the most depressing thing
I have read since the crisis started. The myriad
of reasons for being amoral was astounding.

#46 Timmy on 04.14.20 at 4:37 pm

“#13 Howard on 04.14.20 at 3:37 pm
I can’t stand Drake’s “music” but considering how massively popular he is, it’s a bit harsh to say he doesn’t have talent. Even if the talent is for performance art and generating favourable publicity rather than actual music.”

McDonalds is wildly popular and the food sucks…

#47 Linda on 04.14.20 at 4:38 pm

I’ll have to do some research, but does anyone know if a Canadian city has ever declared bankruptcy? Or what will happen if that occurs? I’m just presuming that what may happen in Canada won’t mirror the USA experience.

I’m also a little surprised that most hotels/motels aren’t already closed. I would have thought that would have been old news by now. Though another question I now have is how many stranded travelers from other countries are currently living in Canada? Presumably we still have some though not enough to keep our hospitality industry afloat.

#48 YouKnowWho on 04.14.20 at 4:39 pm

The Boy in the Plastic Bubble, with John Travolta

I have it on DVD. You want to borrow it?
It’s not germ free for sure though.

So many relevant themes. It should be this Friday’s Family movie.

#49 Dee on 04.14.20 at 4:41 pm

Hi Garth, since todays blog is about the “answers” to questions, I wonder if someone could answer three of my own. (1) Why does Mr. Trudeau get to go to his cabin for Easter when the rest of us can’t ? (2) Why is Walmart allowed to be open by simply abiding by social distancing rules when all the other businesses who could abide by the same rules, can’t be open? (3)Is it possible for the provinces and private businesses to just start opening up on their own without the Feds approval?

#50 Johnny g on 04.14.20 at 4:41 pm

DELETED

#51 Penny Henny on 04.14.20 at 4:44 pm

#31 I’m stupid on 04.14.20 at 4:05 pm
Well an update to my truck problem. So apparently I can’t buy another vehicle no matter how much money I have. Service Ontario is closed because it’s not essential (go figure) so ownerships can’t get transferred and plates can’t be issued or transferred. Since I can’t do any of the aforementioned things I can’t get insurance.

How in the hell can society survive like this? All those service Ontario people are sitting at home collecting full salaries while guys like me are still trying to make a living but are being severely impacted because we can’t buy vehicles for work. So yes I’m taking the 2k a month!
///////////////

You sure?
It appears the office in Welland is still open.
Some have been temporarily closed.

#52 DLTINC on 04.14.20 at 4:45 pm

So people are all saying that the tremendous deficit the government is running up will have to be repaid. My question is WHY? Who do we owe the money to. Isn’t our government creating this money out of thin air. So, there is no one to charge us interest. The debt may show up on the government’s balance sheet but why does it have to be reduced. And what will happen if it is not? How about we all just forget about ever repaying it. It’s not as if there will be anyone around looking for their return of capital much less interest on it.
Does this matter because Canada has tied itself to some sort of international financial system that requires that taxpayers assume this debt and work to reduce it. If so, I think we Canadians should be educated about just how this system works.
Of course, I know if every country just kept printing money instead of collecting it through taxation, inflation would go crazy but, then, aren’t all the countries doing the same now? The savers, me included, will be screwed if this happens but maybe if we could all just treat this as a one shot deal, the world could come out of this in reasonable shape and maybe we can all learn something from this like maybe we should accept that living within our means rather than continually running up debt is what we must do. Just as we can’t keep sucking the nonrenewable resources out of the ground, we can’t keep living on borrowed money either.

If you want our dollars to fade and hyper-inflation to seize hold, your plan would be excellent. – Garth

#53 PastThePeak on 04.14.20 at 4:45 pm

So maybe up to 1/3 of the total workforce is going to apply to CERB (which is likely more than 100% of those eligible)…

…but on the Garth survey only 15% of those that could take it would do so, as they don’t need it?????

Those numbers add up about as much as:
– US gov’t debt doesn’t matter in your investing decisions
– 0% interest rates & money printing inflate real estate but not equities
– It is perfectly logical for the markets to price in only the economic performance expected in 2021, ignoring any part of the 2020 great recession and all the risks in between

Sunshine, lollypops, and….

That is not what the survey asked. – Garth

#54 Decent Majority on 04.14.20 at 4:48 pm

The people who believe the government owes them a living are not in this survey, and they are legion now. I believe the huge majority here responded with honesty. When I was a young man I was too proud to apply for EI, even if I had absolutely nothing. I don’t think there are many like that any more. On another tack, what happens when Vancouver goes bankrupt? Some parasites are going to lose a lot of free stuff.

#55 islander on 04.14.20 at 4:53 pm

https://www.theglobeandmail.com/investing/personal-finance/household-finances/article-in-tough-times-banks-can-take-your-heloc-safety-net-away/

Check out your HELOC

HELOCs, like personal lines of credit, are almost always demand loans. – Garth

#56 Sail away on 04.14.20 at 4:53 pm

#29 Sold Out on 04.14.20 at 4:00 pm

Welp, you can’t say Americans didn’t get their money’s worth out of Cult #45.

If presidents are defined by the crises they encounter in office:

US = 3.91% of world population
US = 30.5% of Covid19 cases
US = 20.3% of Covid deaths

Makes George W. look good.

———————

When my kids were little and it rained outside, they would get irritated because they didn’t like playing outside in the rain as much as in the sun.

So they would blame me, because, you know, it was my fault.

But, that’s the way children act…

#57 PastThePeak on 04.14.20 at 4:53 pm

#37 Frugal Xennial on 04.14.20 at 4:18 pm
Re #27 Scott on 04.14.20 at 3:56 pm
“What’s the difference between taking the 2k a month now if you qualify and don’t need it to survive as opposed to taking OAS which Garth has scoffed at the idea of not taking?”

The difference is that (in theory) OAS is pre-funded and you’ve been paying towards it throughout your life (or rather each generation supports the previous one). CERB on the other hand is essentially magical money that was never budgeted for and will impact other current spending and need to be post-funded. AKA more cuts and taxes.
++++++++++++++++++++++

OAS is not pre-funded – it comes out of federal general revenues each year. There is no current generation paying for the next. I think you are confusing with CPP.

One could say that OAS is based on taxes already paid…if there was a balanced budget. But with more than $20B in deficits the last 4 years, not all gov’t programs were paid for by taxes. You could say that the Child Benefit is paid for with borrowed money, and that of course there are people who do not need it and take it. So all of those people should be shamed.

Or you could say part of that $20B+ borrowed money every year is due to some taking OAS that don’t need it. So they should be shamed too.

How about this one – if you pay net income tax (after all deductions and benefits) of less than $10,000, then almost everything you get from the government you “haven’t paid for”. That would be about 80% of all Canadians. Maybe they should be shamed…?

#58 Stone on 04.14.20 at 4:54 pm

Balanced and diversified ETF portfolio currently sitting at -5.98%. YTD. Rebalancing a couple of weeks ago appears to be paying off.

#59 Decent Majority on 04.14.20 at 4:54 pm

#21 Marco. Soylent Green is right next to the care home.

#60 Tbone on 04.14.20 at 4:56 pm

#41 Timmy

Portfolios took a haircut but if you hold blue chip stocks the dividend income stream did not change . Neither did the c p p payments. So I did not experience a change in income . It will take some time for the portfolio to recover as it’s down around 10% , but I have time .

#61 Stone on 04.14.20 at 4:58 pm

And, wow, 45% of homeowners in Vancouver say they’ll be unable to make their payments in May. (By the way, the city reveals it’s probably going bankrupt if enough owners welch on property tax.)

———

I don’t see them going bankrupt. They’ll just raise the taxes on homeowners enough to cover their expenses. If 45% don’t pay, that means taxes need to double.

Problem solved.

#62 Pete from St. Cesaire on 04.14.20 at 5:00 pm

The goal of the tyrants is to bankrupt everyone and every business. They want people to sink their life savings into keeping their business afloat. That’s why they keep spreading false hope about a lifting of the quarantine. The currency is worthless and they want a reset. But they don’t want to go to people and say “we’ve just cancelled the million dollars you had in savings, here’s your welfare cheque”. They want it to be all your fault that you’re broke. Then they’ll say “we didn’t make you sink your life savings into supporting your business, you did that and it wasn’t the right decision”. Unfortunately, the fastest way to end the lockdown is likely for every small and medium sized business owner to declare his business bankrupt.

#63 Sail away on 04.14.20 at 5:00 pm

#46 Timmy on 04.14.20 at 4:37 pm

McDonalds is wildly popular and the food sucks…

——————

I disagree. The food is fantastic, that’s why it’s wildly popular.

Now that you got me thinking, I’m getting McDonalds for today’s takeout. I bet the cashier will be surprised with their $100 tip, haha…

You, my friend, have just helped make a McDonalds employee very happy.

#64 Not So New guy on 04.14.20 at 5:04 pm

#31 I’m stupid on 04.14.20 at 4:05 pm

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

You should take your story to the media. That’s crazy

#65 TurnerNation on 04.14.20 at 5:05 pm

This is the grand Inversion of Freedoms being rolled out.
– Landlords – private providers of places to live – are being forced out. Rent not coming in, cannot pay property taxes; re-financing may be impossible under tightened credit regs.
– Cash workers and people doing not much are claiming the $2000. Drug dealers, pimps must be getting a payday.
– Once a day you are force to stop and clap for people, some of which are actively enforcing your lockdown. Clap for the prison guards. That’s a fact.
– Savers are punished with non existent interest rates; many unbalanced stock investors are down lots
– Prisoners are actively being released.
– Little free speech else get yelled at; no public protests allowed.
– Small business owners – employers – are systematically being wiped out.
Day by day. The weeks go on. Our elite rulers never will speak of our release.
No the RED numbers on the tell-Lie-vision always go up, validating our confinement. No one is dying of anything else.
– Healthy people are considered sick and must be avoided.

#66 PastThePeak on 04.14.20 at 5:06 pm

That is not what the survey asked. – Garth

“If you do NOT need the CERB money, will you take it anyway?”

Implied in the question is ‘if you are eligible”. Not much of a moral question if you are not eligible.

#67 just a dude on 04.14.20 at 5:08 pm

Garth,

Thanks for organizing yesterday’s survey. It’s great to see so many blog dogs so nicely aligned (and a relief after daring to read a few of the extreme posts on here!).

Thanks for all that you do.

And thanks to those reasonable blog dogs who take the time to share helpful and interesting thoughts and perspectives.

#68 Brian Ripley on 04.14.20 at 5:18 pm

My chart of Single Family Detached Houses in Vancouver, Toronto and Calgary with FX and Crude Oil Notations is up: http://www.chpc.biz/canadian-housing-in-usd.html

The current USD strength is growing and energy prices are facing resistance. As recorded in the chart when the price of oil drops, housing prices eventually follow.​​

As Garth has reminded us countless times, asset prices may drop but liabilities that leverage those assets don’t.

There is only 2 ways of repairing one’s balance sheet in a credit bust… continue to pay off the debt over time or liquidate and protect what assets thatcan be saved.

As Mike on “Better Call Saul” said last night to Jimmy:

“…they are where they are because of choices they both made. You don’t just randomly end up in a shootout and wandering around the desert half-dead. You make choices that put you there, and that’s what he did. He has to learn to live with that and, eventually, he will be able to weather things as Mike can.” Youtube dialogue from Better Call Saul: https://youtu.be/gsPs_SkwItc

#69 earthboundmisfit on 04.14.20 at 5:23 pm

When this thing turns around, I’m expecting an HST of 20%. Brace for it.

#70 FreeBird on 04.14.20 at 5:28 pm

1. There’s no such think as free money.

2. It’s not govt funded it’s tax payer funded. They take it and ‘give’ it back. Maybe. If you qualify.

Many countries seem to be kicking the can down the road but banks are making sure they’re covered. US lenders and agents will be given compensation fee (highest for smaller loans). See link below. Our CA says could be similar case here for banks. Also the $10K ‘forgiveness’ on $40K sml biz loan could be taxed as income. If you do need it to pay by due date but banks prob hedging bets many will signup for 3 yr loan @5% Dec 2022. Ballooned interest pyts on mortgages/LOCs will come due too. I get many of us are (rightfully) stressed and angry but think about whose really benefiting and will pay down the road. At min get good advice. Deaf ears maybe but worth a try. Good luck all.

https://home.treasury.gov/system/files/136/PPP%20Lender%20Information%20Fact%20Sheet.pdf

#71 cramar on 04.14.20 at 5:30 pm

Speaking of surveys…

There was a recent assessment survey done with employers in the Windsor region to see how many had to lay off workers. Over 57% did, but a stunning 28% said they laid off workers PERMANENTLY! So between a quarter and a third of workers out of work will not be going back to work when the virus moves on.

Ain’t goin’ to be a normal economy going forward.

#72 Deplorable Dude on 04.14.20 at 5:30 pm

A dairy farmers explains why the US will be running out of food soon…….if nothing changes.

https://theconservativetreehouse.com/2020/04/14/phase-five-supply-chain-with-a-message-from-a-dairy-farmer/comment-page-1/#comments

I’ll be in Costco of anyone needs me.

#73 Trudeau on 04.14.20 at 5:31 pm

You want an idea of how dumb Canadians are ?

Canada was asleep at the wheel , no pandemic plan, late to act . Instead of sending him to jail he’s being lauded

Either Canadians r dumb or $2k goes along way

Rip Canada

#74 Ken From BC on 04.14.20 at 5:32 pm

I would take EI as it is an insurance I paid for.

I will take OAS to the amount that isn’t clawed back (if my plans work out, I won’t be eligible) as my taxes helped fund it.

I wouldn’t take CERB if I didn’t need it because it is money that is borrowed from our children and in all likelihood our children’s children. They are the ones that we are taking the money from, not the government.

#75 TurnerNation on 04.14.20 at 5:38 pm

Boardwalk Residential REIT. They own many in Calgary, Edmonton:

“Boardwalk has received 92% of its rental revenue due in April. Historically, by the 13th of the month, the Trust collects 95% of its rental revenue. Boardwalk is actively following-up with any of its Resident Members in arrears or in need of a payment plan.
Boardwalk’s payment plan application, for Resident Members facing financial hardship, was made available to all its Resident Members. Less than 2% of Boardwalk’s Resident’s submitted an application for payment plan, many of which provided partial payments on the 1st of the month.
Boardwalk’s occupancy within its stabilized portfolio at the end of March 2020 was 96.5%.
Turnover (notices for moveout) in the month of April have decreased by approximately 33%. Boardwalk continues to serve new residents looking for a safe place to call home.”

#76 The Wet One on 04.14.20 at 5:38 pm

2,100+ dead Americans today.

Good job Trump. You’re killing them as fast as you can.

Nicely done.

Wait, I thought you were supposed to protect the American people or something?

Eh.

Potato, dead Americans. Who can tell the difference anyways?

Meanwhile, north of the border, on our way to 1,000 dead, but not quite there yet. Maybe tomorrow.

Dang.

It’s good to be Canadian.

#77 NFN_NLN on 04.14.20 at 5:39 pm

I’ve been a LONG time follower of greater fool. But if you haven’t seen Viva Frei I recommend you check out his channel. He does legal commentary, but it has typically been US. Now he is adding Canadian content:

https://www.youtube.com/watch?v=D70TvftbL-k

#78 Paul on 04.14.20 at 5:41 pm

Who paid for this bail out?

https://www.policyalternatives.ca/newsroom/updates/study-reveals-secret-canadian-bank-bailout

#79 John on 04.14.20 at 5:41 pm

Pass the Kool Aid.

#80 Lambchop on 04.14.20 at 5:41 pm

#61 Stone on 04.14.20 at 4:58 pm
And, wow, 45% of homeowners in Vancouver say they’ll be unable to make their payments in May. (By the way, the city reveals it’s probably going bankrupt if enough owners welch on property tax.)

———

I don’t see them going bankrupt. They’ll just raise the taxes on homeowners enough to cover their expenses. If 45% don’t pay, that means taxes need to double.

Problem solved.
__________________

Sounds about right. End result, nobody pays their property taxes (I certainly wouldn’t), and it’s the New Normal.

#81 Bob on 04.14.20 at 5:45 pm

poll results ,

‘worried about the deficits’ – 98%

LMFAO

Translation – don’t actually DO anything about it , log in tomorrow and read what Garth has to say.. with glass of whiskey of course

Crack me up

#82 Reality is stark on 04.14.20 at 5:47 pm

The reality of socialism is a lesson in morality.
When Americans ask me what the difference is between a Canadian and an American I answer it this way.
If you ask a Canadian woman in her thirties after dating for a while if she is on contraception, 80% will say yes but half of them will not actually be on it. 80% of those who say yes in America will be on it.
If you wear a condom after they told you they were on contraception all of them will resent it.
If you subsequently talk to an older woman about the issue they would say you were a fool to trust anything they say.
Socialists talk a good game but they’ll steal from you when you aren’t looking.

#83 Penny Henny on 04.14.20 at 5:48 pm

If Sail Away tipped a food service employee and no one was around to hear his story, then did he still tip her?

#84 Lurker on 04.14.20 at 5:49 pm

I was wondering how many people are making more money on CERB than working? I calculated that approx. 27% – 32% of Canadians make more money (or the same amount) on CERB than working.

I used the Statistics Canada data base has Employment Income by income group based on 2016 Census data. https://www12.statcan.gc.ca/census-recensement/2016/dp-pd/dt-td/Rp-eng.cfm?TABID=2&LANG=E&A=R&APATH=3&DETAIL=0&DIM=0&FL=A&FREE=0&GC=01&GL=-1&GID=1235625&GK=1&GRP=1&O=D&PID=110244&PRID=10&PTYPE=109445&S=0&SHOWALL=0&SUB=0&Temporal=2016&THEME=119&VID=0&VNAMEE=&VNAMEF=&D1=0&D2=0&D3=0&D4=0&D5=0&D6=0

The median employment income is $33,684. Of the 20 million Canadians with employment income, 5.5 million (27%) made between $5,000 to $24,999 and 6.6 million (32%) made between $5,000 to $29,999.

What are the unintended consequences of people making more than if they were working? Any incentive to go back to work? Places like Banff Alta and service industry may have a hard time finding workers if this ends slowly.

#85 Calgary retiree on 04.14.20 at 5:51 pm

It looks to me that Garth will vilify working people for applying for CERB, but give a pass to his clients who are guided to avoid paying taxes by all legal means.

Not the same thing you say? Hypocrisy, I say.

Next time you talk about tax shelters with your well heeled clients, be sure to ask them: “are you sure you need the money?”

‘Working people’ vs ‘well-heeled clients’. Been a long time, comrade, since I heard such language. – Garth

#86 BillyBob on 04.14.20 at 5:51 pm

#38 Mark Moretti on 04.14.20 at 4:19 pm
#30 – Ed McNeil

Markets move up because they are “forward thinking.” Haven’t you heard, all this calamitous news was already forward thought of. We dealt with it. Now up she goes!

Doesn’t matter about earnings, or lack of jobs, fundamentals at all really, look forward to government stimulus to propel stocks higher. We call it stimulus, not pogey you see. Big difference when corporations get the cash.

Get on board, make some honest money in the stock market and sneer at the unwashed “moisters” who just want government pogey. Those losers don’t realize how their $2000 is destroying the future.

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

You can complain about the system, or you can participate and benefit from it.

I guess you choose Option A?

————————————————————————————–

#69 earthboundmisfit on 04.14.20 at 5:23 pm
When this thing turns around, I’m expecting an HST of 20%. Brace for it.

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

You do realize 20% VAT is standard or low, in many places in the world?

https://taxfoundation.org/vat-rates-europe-2019/

#87 Smoking Man on 04.14.20 at 5:52 pm

#44 Penny Henny on 04.14.20 at 4:28 pm
Hey Smoking Man, let me know when you see a reversal in the up trend.
Thanks

Did you watch the video I sent you?
……

Having a tough week man, didn’t see the clip yet , trying to stay up.

I called the reversal a few weeks ago. In the archives

#88 Gary on 04.14.20 at 5:53 pm

RETAINED EARNINGS SMALL COMPANY
Someone has to pay for all the handouts, so I figure the government has retained earnings in the crosshairs as a likely place to increase taxes on ineligible dividends.
What is the general consensus ?

Oops Starting to think like Garth

#89 jess on 04.14.20 at 6:02 pm

pam martens asked: “why the New York Fed has had to pump a cumulative $9 trillion in cash to these Wall Street banks, since September 17 of last year, if they are so well capitalized. Can big banks actually be well capitalized and have no liquid money to make loans – the key function of a bank?
JPMorgan Chase’s Uniform Bank Performance Report for December 31, 2019 at the Federal Financial Institutions Examination Council (FFIEC). Its off-balance sheet “mysterious” items marked simply “other,” total to a whopping $737.5 billion – that’s almost three-quarters of an undefined $1 trillion at the largest bank in the U.S.

https://cdr.ffiec.gov/public/Reports/UbprReport.aspx?rptCycleIds=120%2c114%2c107%2c101%2c86&rptid=283&idrssd=852218&peerGroupType=&supplemental=

American Workers Get a 4-Month Safety Net; Wall Street Gets a 4 to 5-Year Bailout
https://wallstreetonparade.com/

helicopter Ben the expert on the Gdepression?
velocity of money

The St. Louis Federal Reserve tracks the quarterly velocity of money using both M1 and M2.
https://www.investopedia.com/terms/v/velocity.asp

#90 not 1st on 04.14.20 at 6:03 pm

My limited experience with govt is when they pitch a program where you think someone else will pay, usually blows up in your own stunned face. Silly carbon tax is one prime example. Oh the oil companies will pay, oh sht its on my utilities bill and they are charging gst on it and gst on that. Be still my shocked heart.

The CRA is probably weaponizing itself right now to take those funds back and audit every person or company who took them. They will get their pound of flesh.

#91 Deplorable Dude on 04.14.20 at 6:04 pm

New York fudging their covid19 death figures to get more funding.

Added 3000 deaths who were never tested.

Don’t normally link to the NY slimes but I’ll make an exception for this.

https://t.co/NXpgwwltWi

#92 not 1st on 04.14.20 at 6:05 pm

#69 earthboundmisfit on 04.14.20 at 5:23 pm
When this thing turns around, I’m expecting an HST of 20%. Brace for it.
—–

Still only 200 miles to Trumpland and we do have a free trade deal. Let them try that. Anywhere they look for taxes now will kill the economy even more dead.

#93 Ottawa_vet on 04.14.20 at 6:09 pm

I can’t stand Drake’s music (does it even qualify as music)? But as a very long time holder of CargoJet stock, I was happy with his partnership with said corporation. His promotion of the company certainly helped the stock skyrocket further.

https://finance.yahoo.com/news/cargojet-announces-partnership-drake-164900302.html

#94 PastThePeak on 04.14.20 at 6:10 pm

Back to Garth’s favourite topic – epidemiology. Once again, trying to bring some light to the extremely oft repeated, misleading statistic:

“36,000 Americas die, on average, from seasonal flu”.

Everybody says it. From the US President down to the lowly blog bilge section. But, it isn’t true. Not even close. Read in detail at this link:

https://aspe.hhs.gov/cdc-—-influenza-deaths-request-correction-rfc

For the 99.99% the won’t read a link (even through everyone demands a source), a summary:

– The CDC explicitly link influenza and pneumonia as one statistic, even though there are many causes of pneumonia

– The CDC value above is “influenza-associated” death – not specifically a death directly caused by influenza or pneumonia that comes from it.

– CDC uses indirect modelling methods to estimate the number of deaths associated with influenza (they probably borrowed the models from the IPCC…) – they do not use cause-of-death information

– William Thompson of the CDC explained that “influenza-associated mortality” is “a statistical association between deaths and viral data available.” He said that an association does not imply an underlying cause of death: “Based on modelling, we think it’s associated. I don’t know that we would say that it’s the underlying cause of death.

– As an example, according to CDC’s National Center for Health Statistics (NCHS), “influenza and pneumonia” took 62,034 lives in 2001—61 777 of which were attributed to pneumonia and 257 to flu, and in only 18 cases was flu virus positively identified

– And the kicker -> the CDC started to greatly expand their estimates of flu deaths in 2003, after the pharma companies that developed flu vaccines complained that the orders for the vaccine were low.

**This is important** – as many are trivializing COVID-19 by comparing its deaths to seasonal flu. It isn’t even close. Deaths as verified by positive testing for the flu are not even breaking a thousand per year. At best maybe 5-10K are influenza & related (and that is an estimate)

In just over 6 weeks, the US has gone from 1 to 25,000 COVID-19 deaths. Compare that to “real flu death” stats. There is a reason front line health care workers were worried.

#95 Georgie on 04.14.20 at 6:11 pm

91% concerned about the debt? seriously? WOW

don’t be , your tax dollars will increase to pay the debt .You’re okay with that right? It’ll be okay.

Consider not voting Trudeau, but good luck with that, the hcap is handing out free money ……yeah yeah yeah, i know its not free ,…… your taxes will pay for it.

#96 MF on 04.14.20 at 6:12 pm

13 Howard on 04.14.20 at 3:37

Drake is great. He is talented. Good performer, good lyricist, his beats are always good.

He’s also very intelligent, and of interest to this blog, he is very financially savvy. He’s very diversified. He’s got a clothing company, is an ambassador for an NBA team, has restaurants, etc. all on top of his record sales and concerts.

In a world where most other rappers blow money on who knows what, drake is a breath of fresh air. We can actually learn from him.

MF

#97 Last Gasp on 04.14.20 at 6:12 pm

The greatest immorality is not the small thieveries of the welfare grifters, but the stock market.

It is a Casino and not a trading floor… gusticating off misery and naivety. Everyone else who sweats for their dsily bread is bleeding, while the crony vultures are feasting.

It is reprehensible how much self congratulation and back slapping by the investment wizards
is going on just by following the corrupt amoral Fed, which is the embodiment of immorality.

But virtue is out of fashion nowadays as is common sense.

#98 it would be interesting to know... on 04.14.20 at 6:17 pm

It would be interesting to know , in a few sentences only, what people see coming, economically speaking, from the current situation.

As the good folks here are from many different socio-economic backgrounds, it may give us all an informed perspective to plan our investments and lives.

#99 Re-Cowtown on 04.14.20 at 6:20 pm

So T2 is about to unveil billions of dollars of support for the oilpatch.

I guess no one told him that if he had let the rule of law stand and not listened to people who tout imaginary and illegal “social licenses” he wouldn’t have had to:

1. Buy a pipeline
2. Build a pipeline
3. Spend billions on supporting Alberta workers through CERB
4. Spend billions on supporting the oil industry

Total swing to the Canadian economy due to T2’s desire to follow messed up socialist/eco-goof ideas?

Probably a hundred billion or more.

He’s been one expensive dude with a nice haircut!

#100 Oakville sucks on 04.14.20 at 6:25 pm

I sold everything I had in the stock markets today. No upside left and the valuation isn’t what it used to.

#101 jess on 04.14.20 at 6:26 pm

death benefits?

Wall Street banks own a form of life insurance called BOLI, short for Bank-Owned Life Insurance. The death benefit pays to the corporate owner of the policy, in this case the banks, not the employee or their family.

The amount of BOLI assets held by the banks is listed on Schedule RC-F on their Call Reports that are filed with federal regulators. As of December 31, 2019, four of the largest U.S. banks, JPMorgan Chase, Bank of America, Wells Fargo and Citigroup’s Citibank held a combined $58.44 billion in BOLI assets. The breakdown was as follows: Bank of America $22.55 billion; Wells Fargo $19 billion; JPMorgan Chase $11.66 billion; and Citibank $5.23 billion.(wall street on parade)
https://www.investopedia.com/terms/b/boli.asp

#102 Travis Smith on 04.14.20 at 6:26 pm

#6 Silent the people

It’s not ‘Money for nothing and chicks are free’.

Its ‘Money for nothing and CHEQUES for free’ (facepalm)

#103 Smoking Man on 04.14.20 at 6:26 pm

Trump just suspended finding to WHO.

Nice !!!!!

#104 Flop... on 04.14.20 at 6:34 pm

Tried to write about this 3 different ways.

Time for attempt number 4.

If you say Coronavirus is just a cold or the flu and not a crisis, that’s your opinion.

If you then take the CREB money, which is being handed out because the Federal Government believes it is a crisis, then by registering as a solitary number, you are confirming for them that it is a crisis.

Laid off, need the money, believe that it is a crisis?

Take the money.

Laid off, don’t need the money, don’t believe it is a crisis?

Leave the money.

Persistent bugger, I will get through to you in the end…

M45BC

#105 Dogman01 on 04.14.20 at 6:35 pm

Yesterday’s post:

It’s tragic to think that heroic man’s great destiny is to become economic man, that men will be reduced to craven creatures who crawl across the globe competing for money, who spend their nights dreaming up new ways to swindle each other. That’s the path we’re on now.
The Way Of Men – Jack Donovan

You are expecting adherence to a value system which is being wiped away. Being responsible for yourself and having obligations as a citizen is a traditional value of middle class western citizens, part of a social contract\compact system . It is why WWI and WWII found a willing volunteer army of stakeholders willing to risk “taking one for the team”.

But our Establishment has spent the last 30 years destroying this social contract in the West as well as western values and obligations. We have become an economy rather than a nation , a Post National State with no values. It is clear economically, “every man for himself”.

Import labor, export jobs, race to the bottom, no national infrastructure no Industrial policy, no unifying values, work ethic etc.

#106 Penny Henny on 04.14.20 at 6:36 pm

#86 Smoking Man on 04.14.20 at 5:52 pm
#44 Penny Henny on 04.14.20 at 4:28 pm
Hey Smoking Man, let me know when you see a reversal in the up trend.
Thanks

Did you watch the video I sent you?
……

Having a tough week man, didn’t see the clip yet , trying to stay up.

I called the reversal a few weeks ago. In the archives
////////////////

not that reversal.
the next one.

#107 Nonplused on 04.14.20 at 6:38 pm

#4 Stephen on 04.14.20 at 2:57 pm
If you lose your job because of COVID-19, as if only 15% of us are taking money from the government whether we need it or not. Looks like a lot of people are just trying to please Garth lol. You’ve got some people brainwashed Garth, time to run for office again lol

If these same people got laid-off under normal circumstances would they also not apply for EI? haha. People can’t even be honest when its anonymous

————————–

My guess is any survey done on GreaterFool will not be reflective of the population at large. Most of the people who come here are of the sort that have a wealth management adviser, so they are older and considered “high net worth” by the banks.

I bet if you polled the 800,000 hospitality workers who lost their job the numbers would be quite different.

Why would I write a blog for the ‘population at large’? They like Drake. – Garth

#108 Flop... on 04.14.20 at 6:42 pm

Flop’s Coronavirus Song Of The Day.

( Because of all the business closures, especially bars and restaurants, special shout out to all the hospitality workers hanging tough)

Semisonic.

Closing Time…

M45BC

https://m.youtube.com/watch?v=xGytDsqkQY8

A snippet.

Closing time, open all the doors
And let you out into the world
Closing time, turn all of the lights on
Over every boy and every girl.

Closing time, one last call for alcohol
So finish your whiskey or beer
Closing time, you don’t have to go home
But you can’t stay here.

#109 OK, Doomer on 04.14.20 at 6:42 pm

#29 Sold Out on 04.14.20 at 4:00 pm

Welp, you can’t say Americans didn’t get their money’s worth out of Cult #45.

If presidents are defined by the crises they encounter in office:

US = 3.91% of world population

US = 30.5% of Covid19 cases

US = 20.3% of Covid deaths

Makes George W. look good.

_____________________________

And that’s why you don’t let Arts grads anaylze data. No clue.

The US tests more than anyone else AND has the largest population of any country that accurately reports cases. Try your math methods on Quebec or Ontario and adjust for population and you’d be horrified and calling the Hague to report War Crimes.

Your analysis is just plain silly. Leave the math to someone who didn’t take any any SJW classes. I understand that to you the numbers are shocking. To those of us with a STEM background, they are surprisingly good and speak well of a program that is working.

#110 Faron on 04.14.20 at 6:43 pm

#42 Timmy on 04.14.20 at 4:27 pm

Garth,

you talk about being financially literate and responsible for one’s finances. That’s fine for those of us who have good paying permanent–whatever that means–jobs, but how come no one is asking the question that as one of the richest countries in the world we have so many young people in precarious low paying jobs that are unable to save much, regardless of how frugal they are?

——————————————————-

Yes!

I would like to hear an answer to this question as well. From Garth or anyone with a thoughtful answer regardless of where you stand on the matter.

My understanding is this: at the heart of this issue is the widening gap between the wealthiest and poorest. In the US between
07 and ’15 the bottom 40% saw real income drop by ~4% while the top 40% saw an increase of about 3%. The middle stayed about the same. If those starting out climbing the ladder are forced to start on lower and lower rungs with each passing year, it’s not surprising that they may never be able to climb out of the basement. This has very little to do with laziness or failure to pick one’s self up by one’s bootstraps. As much as I, too, like making fun of Millennials’ inability to use a can opener (look it up) I believe everyone has a fundamentally similar desire to achieve within the context of the society they are born into.

To my understanding, this failure has everything to do with umpteen thousand small changes that deregulate (air BnB, Uber, Skip the Dishes etc. are examples of how tech has helped deregulate), deunionize (gig economy as well but also outright union-busting efforts in the US), and deconstruct (budding attempts to privatize healthcare in Canada anyone?) the social systems that were put in place in the last 1/2 of the 19th and the first 3/4 of the 20th century. I’ll grant that those constructs almost certainly make the economy less efficient and bring down GDP growth rates but the trade off is more people landing closer to the middle and fewer people running away with immoral wealth.

Vote Sanders! Oh, wait…

#111 MF on 04.14.20 at 6:49 pm

“Why would I write a blog for the ‘population at large’? They like Drake. – Garth”

-YOLO

MF

#112 Toronto_CA on 04.14.20 at 6:51 pm

#109 OK, Doomer on 04.14.20 at 6:42 pm

This poster has the right of it.

You can’t really compare any stats between countries unless you’re doing it per capita, you’re not comparing apples to apples otherwise.

Second, when we talk about # of cases, we are really talking about # of postive test results, rather than # of cases. This is a very small subset (in my opinion) of the actual number of tests. All over the world, virus experts are thinking that huge % of the populations have already been exposed and are asymptomatic.

So if you test more, you’ll get more positive test results than a population where testing is low. In any case, we haven’t tested enough of the population for antibodies (to know if people had it but don’t have it now) to see how much the virus has spread in any country.

The most accurate measure available would be “deaths per capita” where the USA is doing okay on a global scale, certainly much better than most of Europe. But even then, the deaths data is a bit suspect because 1) everyone dying with certain ailments is being said to die from corona rather than with it 2) deaths are being underrepoted in places like UK where care home deaths aren’t in the numbers, only hopsital deaths 3) some corona deaths may not be in the death counts for various reasons 4) Italy seems to admit their numbers have serious errors in them because “Italy”.

So please, I beg you, stop trying to use the numbers provided to justify anything of the sort of bashing one country or another, the data isn’t ins’t strong enough yet to do that. Maybe in a few years we’ll know more.

(My own theory is the lockdowns happened too late, and the virus is already everywhere. But until we get the antibodies test we can’t know anything for sure.)

#113 Ronaldo on 04.14.20 at 6:56 pm

What does a trillion dollars look like.

https://www.pagetutor.com/trillion/index.html

Doesn’t make a millionaire look so impressive does it?

#114 Faron on 04.14.20 at 6:56 pm

#84 Lurker on 04.14.20 at 5:49 pm

I was wondering how many people are making more money on CERB than working? I calculated that approx. 27% – 32% of Canadians make more money (or the same amount) on CERB than working.

What are the unintended consequences of people making more than if they were working? Any incentive to go back to work? Places like Banff Alta and service industry may have a hard time finding workers if this ends slowly.

———————————————————————————

First, CERB is slated to last less than four months (16 weeks). So, dropping off the dole will encourage people to get back to work.

Second, if it lasts longer, businesses will have to raise wages for the lowest earners. That would be a win in my book.

Fly in the ointment? If the gap is too large, employers will find non-human means of getting the work done or ways to outsource. Not sure how you do that in the service industry, but…

Frankly, as Garth pointed out, the service industry is probably going to be a zombie for longer than most other sectors, so it may be a moot point.

#115 Nonplused on 04.14.20 at 7:01 pm

#1 THE DEBT LOVER on 04.14.20 at 2:53 pm
How do companies manage to pay DIVIDENDS when there in DEBT??

————————–

There are only 2 reasons to buy a stock: You expect the stock price to rise due to organic growth, or for the dividend. Therefore the dividend is an important part of corporate finance.

Normally when a company finances a project they look for a rate of return that is higher than the financing costs, or they would be better off loaning out the money themselves than investing in new projects. This means they (if successful) actually earn a margin on their debt. For example if you can rent out a building for 10% and finance it for 5% you are earning 5% on any money you borrow. Therefore you borrow as much as the bank will lend you. But they won’t lend you 100% because of risk, so you have to come up with some of your own money. You do that by issuing shares, but to do that you have to have some prospect of paying a dividend. Unless you are Elon Musk, then it doesn’t matter.

#116 Bark on 04.14.20 at 7:01 pm

I’m surprised by answer # 3. But I wonder if it was phrased as ‘would’ you take it anyway vs ‘will’ you take it anyway if we’d have seen different results. I’m guessing many people said no simply because they didn’t qualify.

And I absolutely would take it if I qualified even though I don’t need it. But I didn’t answer because my situation doesn’t apply.

#117 crowdedelevatorfartz on 04.14.20 at 7:03 pm

@#69 earthbound
“When this thing turns around, I’m expecting an HST of 20%. Brace for it.”
++++

Yep.
And I hope the liberals wear it for at least a generation of voters……

#118 crowdedelevatorfartz on 04.14.20 at 7:06 pm

@#85 Cowtown guy
“Next time you talk about tax shelters with your well heeled clients…”
+++

Are workboots considered “well heeled”?

#119 Sail away on 04.14.20 at 7:08 pm

“Why would I write a blog for the ‘population at large’? They like Drake. – Garth”

————

Oh, don’t think you’re fooling anyone.

When I opened that video, it showed 47 views from the same address in Lunenberg.

#120 parksville senior on 04.14.20 at 7:08 pm

Your post yesterday (and the quoted poster) twas a tad self righteous, especially after admitting a golf game—-if one doesn’t practice social distancing, you have precious little room for that holier than thou attitude!

#121 Sold Out on 04.14.20 at 7:08 pm

#56 Sail away on 04.14.20 at 4:53 pm
#29 Sold Out on 04.14.20 at 4:00 pm

Welp, you can’t say Americans didn’t get their money’s worth out of Cult #45.

If presidents are defined by the crises they encounter in office:

US = 3.91% of world population
US = 30.5% of Covid19 cases
US = 20.3% of Covid deaths

Makes George W. look good.

———————

When my kids were little and it rained outside, they would get irritated because they didn’t like playing outside in the rain as much as in the sun.

So they would blame me, because, you know, it was my fault.

But, that’s the way children act…

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

If Cult #45 thinks he can elevate himself to King of the sovereign nation of Trumplandia and over-ride the US constitution, he friggin’ well better be able to make the sun shine out of his butt.

All those small gubmint, far-right, gun totin’, good ol’ boys are not going to look kindly on his trampling of state’s powers.

March 16, 2020: “I don’t take responsibility at all.”

April 13, 2020: “I have ultimate authority.”

Is there an Adderall shortage in the US? #45 can’t seem to hold a thought for 30 days.

Somewhere in DC a thorazine dart is being loaded, and an XXL straightjacket is ready for deployment.

#122 crowdedelevatorfartz on 04.14.20 at 7:11 pm

@#96 MF
“In a world where most other rappers blow money on who knows what, drake is a breath of fresh air. We can actually learn from him.”

++++

Wasnt he the one that gave Justin Beiber his big break?
That alone earns him an eternity in Hell………

#123 FreeBird on 04.14.20 at 7:11 pm

For those on tight budgets…free online options thru local library websites (E and audiobooks, movies, etc.) Kobo readers compatible not Cdn Kindle (but decent ‘free’ books w/Kindle Unlimited and has free trial.) We passed this on to neighbor’s dad. Many big schools worldwide offering online courses (for gen public), museums/art galleries free online tours, many online learning sites for various subjects at low cost for adults and kids and good old crosswords. For food if access to a farmer’s market many vendors now offering baskets directly. Helps support small local farmers/biz owners and eat locally grown (most deliver). Share baskets to lower cost even more. We use disposable gloves (can disinfect reusable) put in clean bag (we spray w/disinfectant and leave at door of close by friends. They share books : ). Chat from car window, at safe distance, w/mask. If careful we can still help each other…and keep our collective sanity. Maybe.

Good new short doc film on how small area of Italy is coping w/pandemic incl how families and small biz owners are getting thru by working together. Worth a watch.
https://youtu.be/DQzYnxN3tE4

#124 Nonplused on 04.14.20 at 7:12 pm

“Why would I write a blog for the ‘population at large’? They like Drake. – Garth”

True dat. But I was replying to #4 Stephen not you. I like your blog just fine as it is without the Drake fans. I consider it to have been a very valuable resource over the years even if sometimes it is worth what you pay for it. But I have tried to show support by buying some of your books and shopping at your online store before the customs guys made that too difficult. The PowerHub has come in handy more than a few times. Although I think it needs new batteries at this point.

#125 TurnerNation on 04.14.20 at 7:23 pm

#72 Deplorable Dude the takeaway there is that Government regulations prevent producers from getting food to end users. Proving once again that all famines are man-made. We are living through collective punishment.

In Canada at least one popular eatery chain is re-routing its commercial food flow (I’m thinking Gordon Food svc, or Sysco) direct to the consumer

https://earls.ca/news/earls-grocery
Don’t feel like dealing with grocery store lineups anymore? We get that. Which is why we’ve launched Earls Grocery: a market of items that include everything from your daily home essentials to fresh ingredients to fully prepared meals.

#126 Sydneysider on 04.14.20 at 7:24 pm

“B.C. Health Minister Adrian Dix said the truthers who are downplaying the seriousness of the virus and ignoring the rules designed to keep people safe have “marginal views” that go beyond COVID-19.”

He was not referring to the PM’s country cottage trip, but to a small group of demonstrators in Vancouver.

https://bc.ctvnews.ca/should-b-c-do-anything-about-covid-19-truthers-flouting-physical-distancing-rules-1.4894736

The reality in my Burnaby neighbourhood is that social distancing is dead. The street has never been so busy. A group of school kids called round on their bikes to see my daughter today, since nobody has to go to school, and teachers are not providing challenging activities.

Incidentally, there are many jobs on offer round here, both skilled and unskilled, but all seem to be in old people’s homes for some reason.

#127 Sail away on 04.14.20 at 7:26 pm

#121 Sold Out on 04.14.20 at 7:08 pm

If Cult #45 thinks he can elevate himself to King… and over-ride the US constitution, he friggin’ well better be able to make the sun shine out of his butt.

…his trampling of state’s powers.

#45 can’t seem to hold a thought for 30 days.

Somewhere in DC a thorazine dart is being loaded, and an XXL straightjacket is ready for deployment.

—————-

Sold Out, you seem a bit obsessed. Chill, pal. Go get some sun.

Trump is not Canada’s president… yet. Soon maybe, but not yet.

#128 Don Guillermo on 04.14.20 at 7:30 pm

I’m not anti Trump but I came across this and laughed.

IF TRUMP WERE THE CAPTAIN OF THE TITANIC

– There isn’t any iceberg
– It’s a fake iceberg
– There was an iceberg but it’s in a totally different ocean
– People say it’s the biggest iceberg
– The iceberg is in this ocean but it will melt very soon
– There is an iceberg but we didn’t hit the iceberg
– We hit the iceberg, but the damage will be repaired very shortly
– I knew from the beginning there was an iceberg, long before people called it an iceberg
– The iceberg is a Chinese iceberg
– We are taking on water but every passenger who wants a lifeboat can get a lifeboat, and they are beautiful lifeboats
– Look, passengers need to ask nicely for the lifeboats if they want them
– We don’t have any lifeboats, we’re not lifeboat distributors
– Passengers should have planned for icebergs and brought their own lifeboats
– I really don’t think we need that many lifeboats
– We have lifeboats and they’re supposed to be our lifeboats, not the passengers’ lifeboats
– The lifeboats were left on shore by the last captain of this ship
– Nobody could have foreseen the iceberg
– I’m an expert on icebergs I’ve got lots of friends who deal with icebergs, some of the best, really good ice people who know ice
– Summer will come and the iceberg will disappear, it will go away, like magic
Donald Trump

#129 Flop... on 04.14.20 at 7:33 pm

This is Pete Davidson taking the piss out of Drake last Saturday Night.

I watched the whole show.

Better with a big raucous audience.

Just like this blog…

M45BC

https://mobile.twitter.com/nbcsnl/status/1249187075666186244

#130 CERB is for free on 04.14.20 at 7:34 pm

If people that took the CERB are deep in debt with no income, how will they pay the $200 in taxes next year. Could the government force homeowners to take a HELCOC loan to pay back the CRA?

#131 ImGonnaBeSick on 04.14.20 at 7:35 pm

#96 MF on 04.14.20 at 6:12 pm

You may be the most annoying person in earth…

#132 Faron on 04.14.20 at 7:35 pm

#112 Toronto_CA on 04.14.20 at 6:51 pm

So please, I beg you, stop trying to use the numbers provided to justify anything of the sort of bashing one country or another, the data isn’t ins’t strong enough yet to do that. Maybe in a few years we’ll know more.

———————————————-

Coming at it from the other side (I think the numbers will reveal how serious this actually is/was) I agree that the numbers game is pointless. The results will be revealed when the excess deaths (the death rate in recent months versus that in same months years earlier adjusted for demographics and overall population) statistics are available. That will reveal how big the net life loss was. Who knows, maybe fewer people driving will have offset the deaths from the virus?

Regardless, the public health and economic course we are on is lockdown into May. Now it’s time to figure out how to go on from here. Mass testing when that’s possible and mass issuance of PPE when that’s available. Careful analysis of industries where social distancing is practical. Somewhere along the line the war metaphor was dropped, but for these things it needs to be picked up again. The war-level effort has to be toward getting people back to work while preserving safety. Humans are smart, this will get figured out probably faster than anyone thinks.

#133 Financial Orchid on 04.14.20 at 7:37 pm

“millions of people watching Netflix and eating Cheetos in their skivvies”

I’ve become another statistic.

#134 Trasure Island CEO - 814.33 Troy Ounces of Gold within Bicycle Distance on 04.14.20 at 7:41 pm

Take note of who is hiring and who is firing.

Hiring:

1. Anything healthcare.

2. Amazon.

If you work anywhere else you are SOL.

#135 Workplace Update on 04.14.20 at 7:45 pm

If you are fortunate to still have a job due to working in healthcare and/or amazon you have to ask yourself this:

Is the pain of not having a job worse than still working and the potential to catch Covid-19 at work?

Brutal hit.

#136 Who are the 6 million on 04.14.20 at 7:47 pm

if you are out of work or a small business that closed or a student please apply.
if you a defrauding the government they will catch you.
Seems reasonable.
So why do you think you’re not going to be caught?

So my question is who are the 6 million who applied?
It will be very interesting when the unethical people get caught, I hope they print the names for public shaming.

Back to investments, my portfolio just got back to Dec 31 I am happy about that. And a little one percent gain.

And back to housing as my wife says if all houses drop 30 to 50 percent we are all in the same boat.

As a country we are going to be forever changed, but the sun still rises every day.

#137 Stone on 04.14.20 at 7:49 pm

#80 Lambchop on 04.14.20 at 5:41 pm
#61 Stone on 04.14.20 at 4:58 pm
And, wow, 45% of homeowners in Vancouver say they’ll be unable to make their payments in May. (By the way, the city reveals it’s probably going bankrupt if enough owners welch on property tax.)

———

I don’t see them going bankrupt. They’ll just raise the taxes on homeowners enough to cover their expenses. If 45% don’t pay, that means taxes need to double.

Problem solved.
__________________

Sounds about right. End result, nobody pays their property taxes (I certainly wouldn’t), and it’s the New Normal.

———

No no. For those that don’t pay, the city will seize the property and sell it…to someone who will pay property taxes. They just won’t drop the tax increase when the taxpayer base rises back to about 100%.

#138 down and out on 04.14.20 at 7:51 pm

Garth tell me us the truth that the city of Vancouver bankruptcy if it happens means we could all pay across Canada (feds) to bail out a province and city that allows property tax deferment for any home owner over age 55 no matter how many millions the palace is worth .So Canadian

#139 Sold Out on 04.14.20 at 7:53 pm

#109 OK, Doomer on 04.14.20 at 6:42 pm
#29 Sold Out on 04.14.20 at 4:00 pm

Welp, you can’t say Americans didn’t get their money’s worth out of Cult #45.

If presidents are defined by the crises they encounter in office:

US = 3.91% of world population

US = 30.5% of Covid19 cases

US = 20.3% of Covid deaths

Makes George W. look good.

_____________________________

And that’s why you don’t let Arts grads anaylze data. No clue.

The US tests more than anyone else AND has the largest population of any country that accurately reports cases. Try your math methods on Quebec or Ontario and adjust for population and you’d be horrified and calling the Hague to report War Crimes.

Your analysis is just plain silly. Leave the math to someone who didn’t take any any SJW classes. I understand that to you the numbers are shocking. To those of us with a STEM background, they are surprisingly good and speak well of a program that is working.

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

As the wealthiest, most powerful, most technologically advanced nation on Earth, shouldn’t the US be held to a higher standard than Canadian provinces?

By the by, I’m a high-school drop-out that still retired at 51. At an age when you were asking yourself, “What do I wanna be when I grow up”, I was starting a business and building my own home.

#140 Moh on 04.14.20 at 7:53 pm

Great post. Can’t wait to get a Lexus GX!

#141 Nonplused on 04.14.20 at 7:53 pm

#52 DLTINC on 04.14.20 at 4:45 pm

It is not entirely true that money is “printed out of thin air”. It would be more appropriate to say that it is backed by debt. Whether that debt is “as good as gold” can be debated, but money is never just printed. It is always backed by some sort of asset, either a government bond or something. Even when the public banks create money through fractional reserve banking they can take your house if you don’t pay. What they are doing when they write you a mortgage is “monetizing” the house. In other words they create money against the house and your commitment to pay not only the principle but also interest. In some circles it is called “the time value of money”. Turns out time is as good as gold, or perhaps better, if you are confident you will be repaid.

I’m not talking about Zimbabwe or Venezuela of course, it is possible for a government to just print money, but then it quickly becomes worthless. When that happens everyone gets screwed because the bonds people used for savings become as worthless as the money. The only way out in that case is gold and farmland, and other durable goods.

I don’t expect that we will see hyper-inflation as a result of this crisis, but I do expect inflation will go well over 2% for several years as a result. That is the real reason markets (and gold) are up. Your money is still better in the markets if the assets are good than in cash. This is because money is a measurement, not a real thing, and making the inch smaller doesn’t make the 2×4 bigger. What they are doing right now is redistributing the inches by making them smaller. But it won’t last forever. It’s just a way to make sure people don’t starve and riot. Yes, it is an inflation tax, but probably better than being cut to pieces by a starving mob.

The real thing that is going on in the markets is that they are anticipating inflation as a result of this crisis and the resultant money printing. They are probably correct. But when facing inflation there is practically no asset you can be in that is worse than cash. Toilet paper is better.

Remember folks, cash is for transactions. It is not an investment. And printing it doesn’t create wealth. Cash and bonds only tell us how much who owes who for goods and services, rendered currently or previously. You can’t change the river by measuring it in millimeters rather than inches. But you can scare the hell out of the bondholders and then everything will actually stop. If everyone concluded that bonds will never be repaid, well, that is exactly the Minsky moment where the currency collapses. Nobody is going to lend you their shovel if they know you aren’t going to give it back.

#142 Flop... on 04.14.20 at 8:00 pm

Mrs Flop would eat gold for breakfast if she could.

I will stick with the burnt toast…

M45BC

Charting The Worlds Annual Gold Consumption.

“In times of market volatility, investors seek so-called “safe havens” like gold to limit exposure to losses. With financial markets seeing the most volatility in a decade as a result of the coronavirus, investors have indeed begun fleeing to gold, and gold prices posted their biggest weekly gain since 2008. This new demand has highlighted significant structural problems in the gold market, but few viable alternatives have been found.”

The Largest Sources of Annual Global Gold Demand.

1. Jewelry: 2,107t (48.37% of demand)
2. Investment (total bar & coin): 870.6t (19.99% of demand)
3. Central banks & other institutions: 650.3t (14.93% of demand)
4. Investment (ETFs & similar): 401.1t (9.21% of demand)
5. Technology: 326.6t (7.5% of demand)

https://howmuch.net/articles/global-gold-demand-2019

#143 Coho on 04.14.20 at 8:00 pm

Bottom line is that we are no longer living in a free society. Trading freedom for safety delivers neither.

Governments have taken “gold” away from the people (a free society) and has offered back “rocks” (CERB, EI).

#144 Drill Baby Drill on 04.14.20 at 8:02 pm

That Drake video is self indulgent crap.

#145 Cdn Mom on 04.14.20 at 8:05 pm

#41 Timmy on 04.14.20 at 4:25 pm
50% of the respondent’s finances have not been negatively effected because of the pandemic? This is unbelievable, unless they had their entire portfolio in cash. I can’t take this seriously.
………..

Really? My husband, sole breadwinner is still working full time. As are my 25 yr. old daughter, her fiance, my brother (again, sole breadwinner), and both of his 21 yr old sons.

In my whole, extended family, including in laws, only my 22 year old son applied for, and received, the CERB. He’s finishing 4th year of university, *had* two retail jobs, and a TA job that ends this month. He derserves it, he’s worked since age 12, working full time nights during his final year of high school.

#146 Welcome to Slurrey on 04.14.20 at 8:06 pm

Real estate continues to flourish in the YVR, everyone is still taking on record debt levels but are definitely looking like geniuses because real estate is still a winner. The average joe is not afraid to take on over a million dollars in debt to leverage real estate down here, let the renter cover most of the bills, wait for things to go up, sell and repeat ……. sorry GT, stupidity wins, smart suckers getting roasted with saving and investing, more than 10 years of this has already happened

#147 Here's what I've noticed ... on 04.14.20 at 8:08 pm

in my beautiful 604 burb. All the stores that have remained open have new staff, but only at the tills. Passed a fiver through a plexiglass divider today and the lady did not want to touch it. She had on a mask and gloves. Felt like I had leprosy. She did take it. Are all the “usuals” on the dole? What gives? Garth how bout asking the dawgs what the “new normal” will look like? See how close we come … as only time will tell.

#148 Nonplused on 04.14.20 at 8:10 pm

#128 Don Guillermo

Dude, that was humorous, but let’s not forget that when Trump banned travel to and from China Pelosi and others called him a racist. As much as he has bumbled in front of the camera, he has allowed his staff to do what they think was necessary. Trump doesn’t mow his own greens. He says a lot of stupid things, but the proof of the pudding is in the eating and he does seem to be going with the consensus of the experts at his disposal.

#149 Ronaldo on 04.14.20 at 8:14 pm

Time for a Corona break.

https://www.cnn.com/2020/03/22/entertainment/coronavirus-songs-rewritten-lyrics-trnd/index.html

#150 Drill Baby Drill on 04.14.20 at 8:16 pm

Penney Henney are you from Welland?

#151 Leo Trollstoy on 04.14.20 at 8:33 pm

Flawed survey

Subjective qualifier, if one needs CERB

Should’ve asked if one qualified for CERB if they would take it

#152 Terry on 04.14.20 at 8:35 pm

Fail…Fail……and Fail again. Hope-ium that there will be a vaccine. No Corona virus has ever had a successful vaccine….EVER! This current Corona virus will be back again and again and again. All social distancing did was delay/defer how many more people get infected with it. As the months and years go by almost everybody in the world will get this virus and if you are susceptible to it and you draw the short straw when you get it there will be very little anyone can do. Secondly, more Hope-ium for those who think our economies will be fine in a few months. The damage that has now been done is in a word “incalculable” at this present time. The breakdowns in our supply chains, the shortages in everything still to come, the ruptures in confidence, the demand erasure, the changing dynamics of what we used to do into who knows what? This world has structurally changed my fellow blog dogs and NOT for the better. I just don’t know what it has morphed into yet?

#153 KAC on 04.14.20 at 8:41 pm

#76 The Wet One on 04.14.20 at 5:38 pm
2,100+ dead Americans today.

Good job Trump. You’re killing them as fast as you can.

Meanwhile, north of the border, on our way to 1,000 dead, but not quite there yet. Maybe tomorrow.

Dang.

It’s good to be Canadian.

—————————————————————-

Seriously? You do realize that the USA has approximately ten times our population, right?

Dang, it must be good to be an American. Lol

#154 Attrition on 04.14.20 at 8:44 pm

#110 Faron on 04.14.20 at 6:43 pm

#42 Timmy on 04.14.20 at 4:27 pm

Garth,

…how come no one is asking the question that as one of the richest countries in the world we have so many young people in precarious low paying jobs that are unable to save much, regardless of how frugal they are?

——————————————————-

Yes!

I would like to hear an answer to this question as well. From Garth or anyone with a thoughtful answer regardless of where you stand on the matter.

Gees you two, this is an easy one.

Because: the vast majority of young people place status, outward appearance, social acceptance, fitting in, looking the part, keeping up with others, and..what else…um, pretending to look and act wealthy above working to become wealthy.

This, and they haven't got the faintest clue what a need vs a want is, and they've been raised to feel shameful about thrift, frugality, preparedness…

Oh, and they don't know how to save, never read The Richest Man in Babylon, don't pay themselves first, waste every cent the earn on in-app purchases, vapes, edibles, etc.

I could go on, but my point is aptly made.

Shoot, and I forgot: they take no responsibility for their life outcomes and blame other factors: people, pressure, external events, expectations, their parents…for pretty much anything that goes wrong in their lives.

#155 Deplorable Dude on 04.14.20 at 8:49 pm

#125 Turner Nation…” the takeaway there is that Government regulations prevent producers from getting food to end users. “.

————-

2 big issues looming…..

1) 2 separate food supply chains….usually 60/40 Commercial/residential….just went to 0/100.

Food producers for commercial can not package for residential market (grocery stores). Also means residential warehouse food stocks depleting fast.

2) As you mention other hinderance is regulatory. Even if those removed, will need to get inventive real fast. You don’t wanna buy restaurant sized food size packaging.

#156 Alan Greenspan on 04.14.20 at 8:52 pm

neo on 04.14.20 at 4:18 pm
#30 Ed McNeil on 04.14.20 at 4:01 pm
The markets are not in free fall because the various governments are propping them up with tax payers money. This will not last; how can they continue upward with a catastrophic unemployment rate?
*********************************************

You are mistaken. The US Treasury stimulus is debt to be paid by taxpayers future earnings.

“The Federal Reserve is a separate institution from the US government. The money they are backstopping Wall Street with is printed out of thin air and is cash not debt like the Treasury and isn’t necessary being paid back. It is backfilling the gaping holes in the credit markets.”
_________________________________________

The federal reserve is the central bank of the USA. It does not operate completely on its own. The treasury dept can sell bonds which the federal reserve buys and with a magic stroke of the computer key, creates money in the treasury’s account which it can then distribute to the masses if it wants. How else do you think the US or Canadian govts create stimulus except through their central banks…Where do you think the CERB money is coming from? Do you think the govts had this money sitting idly in their accounts?

#157 Barb on 04.14.20 at 8:52 pm

…That Shepherd’s eyes!
Lovely and intelligent beast.

#158 Entrepreneur on 04.14.20 at 9:02 pm

If I was in business today I would Not take the CERB funds and if I had to apply I would close shop. I would think of different ways of operating to avoid government interferences. Where is the fight!

When younger many of us were taught not live off the system like EI, Welfare, but with so many rules interrupting our way of survival we had to apply. Proud of your Dad #49 Dee.

Without a testing kit, look at the people that have been shopping at the big stores and not ending up in the hospital, duration of time.

I say put up a window shield, wear mask, plastic gloves, distancing (debatable). Allow businesses to get back to work. This is what we should be focusing on!

And if weak immune system, a smoker any kind of smoke inhaling, should self-isolate.

#159 MF on 04.14.20 at 9:07 pm

#122 crowdedelevatorfartz on 04.14.20 at 7:11 pm

“Wasnt he the one that gave Justin Beiber his big break?
That alone earns him an eternity in Hell………”

-Justin who?

Sigh.

You kids and your “music” these days.

Pfft!

MF

#160 Common Sense on 04.14.20 at 9:09 pm

I must say that it is rather difficult to be a honest, law biding citizen when our civil liberties have been removed and we are being guided down the path like sheep to a socialist style of government led by a corral of opportunist and yellow bellied mobsters who are haphazardly running the show. Where is the common sense….GONE! I just want my piece of the pie while there is some left!

#161 Joseph R. on 04.14.20 at 9:10 pm

Your analysis is just plain silly. Leave the math to someone who didn’t take any any SJW classes. I understand that to you the numbers are shocking. To those of us with a STEM background, they are surprisingly good and speak well of a program that is working.

————————————————————

People publishing numbers on behalf of any Public health agencies in the world are STEM graduates.

Trump and his followers (Qanon) refer to them as the “Deep State.”

What are the “SJW Classes” you mentioned?
Who is this “us” you mentioned?

#162 MF on 04.14.20 at 9:12 pm

31 ImGonnaBeSick on 04.14.20 at 7:35

Closet Drake fan in denial?

MF

#163 Marco on 04.14.20 at 9:13 pm

#130 CERB is for free on 04.14.20 at 7:34 pm
If people that took the CERB are deep in debt with no income, how will they pay the $200 in taxes next year. Could the government force homeowners to take a HELOC loan to pay back the CRA?

Government can put lien on your property and wait and accumulate interest and remind you of the fact here and there. Until you break down.

#164 Marco on 04.14.20 at 9:17 pm

#141 Joseph R. on 04.14.20 at 9:10 pm
Your analysis is just plain silly. Leave the math to someone who didn’t take any any SJW classes. I understand that to you the numbers are shocking. To those of us with a STEM background, they are surprisingly good and speak well of a program that is working.

————————————————————

People publishing numbers on behalf of any Public health agencies in the world are STEM graduates.

Trump and his followers (Qanon) refer to them as the “Deep State.”

What are the “SJW Classes” you mentioned?
Who is this “us” you mentioned?

good point. share lingo with us , we wish to be “cool”, too. Lingo is education of the losers but still….

#165 Welfare on 04.14.20 at 9:19 pm

Just a thought 2.5 million Canadians get some form of welfare assistance maybe they all applied?
God help us getting that money back.

#166 Terry on 04.14.20 at 9:20 pm

Copy/paste from other articles:

Something to think about?

COVID19 and Spanish Flu

“Clashes and potential clashes come in the context now of a global pandemic that is being used to justify the shutdown of entire nations and the world economy. There is, of course, precedent when it comes to world war and pandemic.

For instance, the 1918 Spanish Flu that killed millions of people worldwide came on the heels of World War 1 which left many places in the world ravaged with destruction, famine, and vastly reduced living standards. The high use of chemical weapons, particularly those which affect the human immune system, also played a part in the virulent spread of the Spanish Flu. Although many theories have been proposed regarding the source of the pandemic (including the possibility that it was created on a military base in Kansas), it is without a doubt the living conditions of the world that provided a fertile ground for its spread and severity.

With this in mind, however, it is important to take a look at the conditions in which we find ourselves in the present day with respect to pandemics or, at the very least, the possibility of pandemics.

The United States and the world finds itself in an economic depression. For some countries, particularly the United States, living standards have been vastly reduced compared to those which previous generations have experienced. While technology may have advanced, the applications of that technology in most areas other than entertainment have been intentionally withheld from general society.

It is also an unfortunate fact that some parts of the world have never had high living standards to lose. Whenever the West catches a cold, Africa catches pneumonia. The Middle East is in the process of being destroyed and Asia remains a pit of slave labor, crowded living conditions, and inadequate infrastructure.

Regardless of what you might think of the COVID-19 hysteria and the responses to it, it is undeniable that the world is in complete turmoil, a situation in which war and disease are always ready to join hands.”

#167 Keith on 04.14.20 at 9:44 pm

Current numbers, wikipedia

Deaths U.S.A. 26,047
Canada 903

On the upside, it’s reported that there were no mass shootings in the U.S. in March, first month long break since 2003.

#168 John in Mtl on 04.14.20 at 9:50 pm


@ #105 Dogman01 on 04.14.20 at 6:35 pm

“… But our Establishment has spent the last 30 years destroying this social contract in the West as well as western values and obligations. ”

Love your entire post, it is bang on!

I remember another person saying this about 7 years ago: “We no longer have a market economy, we are now a market society”.

How sad. How low we have sunk as a country and as a species.

#169 Sail Away on 04.14.20 at 10:01 pm

#150 KAC on 04.14.20 at 8:41 pm
#76 The Wet One on 04.14.20 at 5:38 pm
2,100+ dead Americans today.

Good job Trump. You’re killing them as fast as you can.

Meanwhile, north of the border, on our way to 1,000 dead, but not quite there yet. Maybe tomorrow.

Dang.

It’s good to be Canadian.

—————————-

Dang, it must be good to be an American. Lol

—————————-

Dang, it’s good to be both.

#170 Stratovarious on 04.14.20 at 10:02 pm

So it is immoral to take a cash payment from government such as the $2K/month CERB money, but it is OK to enjoy the Central Bank fueled orgy on WallStreet which has raised junk bonds from the dead (Thank You Federal Reserve) and increased equity prices a cool 25% from the recent bottom. Never mind that unemployment could hit 20%, many jobs lost will never return (from bricks/mortar retail to airline attendants), and of course Alberta is beyond recourse, all that matters is that Hedge Funds are made whole. Frankly, now that capitalism is dead, and the CB’s literally own the economy, you should be just as ashamed to enjoy your ill-gotten gains as some dude playing golf.

#171 I remember ... on 04.14.20 at 10:02 pm

#137 Stone on 04.14.20 at 7:49 pm
No no. For those that don’t pay, the city will seize the property and sell it…to someone who will pay property taxes. They just won’t drop the tax increase when the taxpayer base rises back to about 100%.
——————————————-
my Pa telling me that most people bought 2 lots (33 feet) in Van (they were cheap) before the depression and built a house on one and planted a veg garden on the other adjoining lot. When the depression came the city allowed the owners to return the “garden lot” to the city in lieu of property tax. Can’t do that again though …

#172 willworkforpickles on 04.14.20 at 10:09 pm

Adamancy Wishful Thinking Denial and Strong Delusion
There are those of the mindset that things will be getting back to normal soon – two to three weeks – Many in this set being fearful for their jobs the value of their real estate and assets.
There are those of the mindset that things won’t be getting back to normal soon looking at six to eighteen months to two years out. Many in this lot looking to purchase real estate and assets cheap down the road.
There are those of the mindset that things won’t get back to normal. Many of those wanting free government handouts for the rest of their miserable lives.
The many here no matter what camp you are in will not see their wishful thinking pan out . Such things without delusion are reserved only for the elite.

#173 John in Mtl on 04.14.20 at 10:09 pm

@ #141 Nonplused on 04.14.20 at 7:53 pm

Thanks for this explanation, Nonplused. ;-)

#174 Alan Greenspan on 04.14.20 at 10:20 pm

141 Nonplused on 04.14.20 at 7:53 pm
#52 DLTINC on 04.14.20 at 4:45 pm

“It is not entirely true that money is “printed out of thin air”. It would be more appropriate to say that it is backed by debt.”

Open market operations, the process by which central banks create money is a nice euphemism for printing money. When the US or Canadian gov’t sell a bond to the central bank, the central bank clicks its mouse and voila, presto magic, the money is in the treasury’s account. That money is backed by the bond but it has been created out of thin air. It didn’t exist in the central bank’s account before the mouse was clicked.

#175 Faron on 04.14.20 at 10:20 pm

#153 Attrition on 04.14.20 at 8:44 pm

I could go on, but my point is aptly made.

———————————————————————

If your point is that you are a judgemental codger who is completely out of touch with the realities of the generation who is actually now running the ship, then you are correct. Or, to put it more succinctly and in the language of those you seem to despise, “Ok, boomer…”

#176 Shawn Allen on 04.14.20 at 10:20 pm

Past the peak’s most excellent post.

#94 PastThePeak on 04.14.20 at 6:10 pm said:

Back to Garth’s favourite topic – epidemiology. Once again, trying to bring some light to the extremely oft repeated, misleading statistic:

“36,000 Americas die, on average, from seasonal flu”.

Everybody says it. From the US President down to the lowly blog bilge section. But, it isn’t true. Not even close. Read in detail at this link:

***********************
Excellent post. Very logical. Rings very true to me.

And I love how he gave a link but then summarized what was in the link. Full marks.

#177 Midnights on 04.14.20 at 10:33 pm

Well, Drakes in The Robb Report. A skill trade friend, his father worked on Drakes place and the pic’s don’t say enough.
https://robbreport.com/shelter/celebrity-homes/gallery/inside-drakes-opulent-50000-square-foot-mansion-in-toronto-2913233/

#178 Sky on 04.14.20 at 10:33 pm

@ Here’s what I’ve noticed … on 04.14.20 at 8:08 pm

“Garth how bout asking the dawgs what the “new normal” will look like?”
******************

I think I may be ahead of the curve. Adjusted to the “new normal.”

When my hubby and I were deciding what to watch on the boob tube, he suggested a Toronto Bluejays vs Texas Rangers game.

Nah, I replied. You know I’m not into sci-fi.

#179 YouKnowWho on 04.14.20 at 10:34 pm

The riots are starting.

https://www.wbtv.com/2020/04/14/arrest-made-protesters-call-north-carolina-businesses-reopen/

Spoiler Alert. Boy in the Plastic Bubble…came out of his bubble. It was the only way to touch the girl!

#180 Faron on 04.14.20 at 10:40 pm

#109 OK, Doomer on 04.14.20 at 6:42 pm

And that’s why you don’t let Arts grads anaylze data. No clue.

————————————-

Deaths per million (that means pop adjusted rates):

USA – 79 (11th among countries of any size)
Canada – 24 (19th among same)

Cases per million:

USA – 1855 (9th among same)
Canada – 717 (25th among same)

Tests per million:

USA – 9260
Canada – 11942

There is plenty of evidence Trump failed his constituents bigly by blending politics and his ego with the response of his administration:

https://www.nytimes.com/2020/04/11/us/politics/coronavirus-trump-response.html

#181 BR on 04.14.20 at 10:43 pm

DELETED

#182 mike on 04.14.20 at 10:49 pm

What are the actual consequences of applying for CERB if one does not actually qualify?

All I could gather for certain from a few minutes of perusing CRA publications is that it ends up being added to taxable income.

Is there just the underlying/unstated threat of finding one’s self on a “certain audit” list? Or has anyone found definitive statement of consequences?

#183 mike on 04.14.20 at 10:53 pm

and… right at the bottom of the application is the blunt answer that I somehow missed – Says you’ll have to pay the benefit back.

Wonder if that comes with a “plus tax” penalty.

#184 Ponzius Pilatus on 04.14.20 at 10:56 pm

The old adage “give a guy a long enough rope ……..”.
perfectly fits the Sailor who refuses to sail away.

#185 Robert Ash on 04.14.20 at 11:13 pm

For any readers starting out on the Economic Ladder, and wondering why it is so hard to get ahead… It is in my opinion, the amount of Taxation, that all Singles and working families are subjected to presently.
I didn’t have to pay GST to purchase a Home, or HST and GST subsequently to purchase Furnishings, or anything, there was no Consumption taxes… Really paid the price at checkout and it was yours..
No Land Transfer Taxes, or Personal income taxes over 50% of a Salaries earnings.
The difference is quite startling, and in the past the Governments, were more helpful, and tried to assist people, not hold back anyone, or vilify success…
For several generations, there had been a push to add, processes, and regulations, to well, any activity that can be taxed or deserves a fee structure.
Non Profits, that sure have big budgets…
Governments, that are Globally focused, are not focused, on supporting your future… you may be compromised.. or maybe rewarded..
It was verboten to allow Governement to pick Winners and Losers… totally unacceptable… but OK today, in fact the Government now pushing the Politics of Envy.
A big difference is that Boomers, didn’t trust Big Govenment, and minimized the involvement in Government in many ways… also this suspicion, of abuse of bureacratic processes as inefficient, meant less public servants..
Less Mass Media influence, and Social Networking to create to some degree, a false expectation of the future.
The Federal and All levels of Government were not Unionized… the dumbest idea on earth… have the employees, legitimized to hold the Citizens, at ransom… Government jobs, were always paid less than the private sector, but had Job Security, and Job permenancy and location permenancy.
Teachers were paid a reasonable amount of money, and benefits, especially those just teaching add, subtract and ABC’s they were not offered Huge Salaries.
Personal accountability. Most of my Generation, were quite embarassed to collect unemployment.. the UIC ski team, were not our hero’s.. They were the selfish, and the shunned, as they took but did not contribute…
We would never have allowed a person with JT’s Resume, to be our leader, since he simply was not qualified… Leadership meant Exceptional people rose to the top…..and had the Skills, when the crisis hit…
– Most Politicians, were more Honorable, and Professional. In the past we could move into commerce and succeed, ie Large Infrastructure projects…
Start adding in the Municpal services that use to be free… Libraries, Land Titles, Parks, Camping, Museums, Art Galleries, etc. etc.. many charge for these past benefits, that accrued to Property Tax payer… the addition of these small fees.. a wee bit more.. takes the money out of a persons take home today…

I could go on, but our Generation would never support an Artist like Drake… FUGLY… can’t even lift up an instrument… Like he is anywhere as talented as Bryan Adams, Guess who, Jimmy Page… right…
I could go on about the intrusions, into your life, but the one take away, is over Taxation… the new Employee in the private sector, is not allowed to keep enough of thier money, as take home pay… period.

#186 Annek on 04.14.20 at 11:23 pm

When this thing turns around, I’m expecting an HST of 20%. Brace for it.
————
For the economy to turn around, people must spend. If they are short on cash and HST is 20%, do you think they will spend. That would further the underground, cash society ( and tax evaders) I am sure this 20% will happen, but is could be a problem and not a solution to stimulate the economy.

#187 morrey on 04.14.20 at 11:40 pm

some seriously infected blog dawgs herein on these posts.

#188 Earthaa Kitt on 04.14.20 at 11:41 pm

Garth,

Garth, This may drive you batty but possible canine connection to the virus…..uncovered by Cancuks no less.

Not to late for you to embrace cats.

https://www.mirror.co.uk/science/coronavirus-was-spread-humans-dogs-21864670

#189 BS on 04.14.20 at 11:44 pm

#139 Sold Out on 04.14.20 at 7:53 pm

By the by, I’m a high-school drop-out

Figured. Thanks for confirming.

#190 Skrimplezy on 04.14.20 at 11:46 pm

#43 Handsome Ned on 04.14.20 at 4:27 pm

When my Dad went overseas during ww2….He spent the war safely riding a desk, going to pubs and chasing skirts. ”

You weren’t born in 1946 and named after a pub by any chance were you?

#191 Smoking Man on 04.14.20 at 11:52 pm

So far 93% of CORVID 19 deaths have been people over 60 with underlying medical problems.

Hoax would be a light word..

Make sure you go get the Bill Gross vaccine..

T2 will love you….

#192 Fortune500 on 04.15.20 at 12:40 am

Garth said ‘Dude!’ ha ha

I really have to wonder about the first question. I mean, this is a finance blog for the most part. If you have any money in the markets then your finances have been negatively affected to a degree. Unless half the readers here have no investments …

#193 Raj D great 1 on 04.15.20 at 12:44 am

Hey love this blog, been following for years and will continue 2 ,Wow !! Really , ethics !! How many of your clients do you help avoid paying extra tax even though they can afford to.
What, isn’t that the difference between tax fraud and tax evasion.
It’s ok for you to charge them money to help them avoid paying their share of taxes ( which our kids will end up paying )as long as it’s legal. Right ? But when others do it now ,legally then it’s morally wrong in your eyes.
Or am I missing something other then a snarky one liner ad hominin response..

Everyone should pay their legal share of tax. Taking a benefit you did not contribute to and do not need is unethical. How is this difficult to understand? – Garth

#194 DLTINCcoudrels on 04.15.20 at 12:47 am

#141 NONPLUS. So if giving people these $180 billion must be backed by something tangible what can be more tangible than a share of Canada’s royalties they should be charging on the extraction of our country’s resources. The fact that our politicians have basically been giving away many of our resources is an indictment on them. They seem to think that having investors provide a few jobs is enough to open our pantry to the world’s greedy scoundrels. What a bunch of suckers Canadians are. Where’s our trillion dollar heritage funds like Norway and several other countries have. No, we’ve given what should still belong to Canadians away to the “great Capitalists” like the Koch brothers.

#195 Jane Sunburd on 04.15.20 at 12:57 am

BC NDP was first to offer an emergency benefit of $1000. The last announcement they made on it was March 24. So far it looks like it was all bullcrap from the dippers as always. The desperate people who couldn’t put food on the table then are boiling shoe leather today. Not a peep from the Dippers? Why is that?

There is a petition circulating on Van Isle and so far 38,000 signatures to keep outsiders out of Avalon. Chinese Canadians in Calgary garnered 80,000 signatures asking Trudeau to health check foreign nationals at the border and Trudeau refused to hear of it. They’re going to temp check inter island ferries but not the airline passengers rerouted from Asia landing in Victoria every day. Funny?

Just as funny is scofflaw Trudeau heading off to Harrington after ordering fines for families skating in the vastly empty parks. The hypocrisy is huge. So is the media giving Trudeau a pass. Pathetic.

#196 Jimers on 04.15.20 at 1:08 am

Remember way back at the very beginning of the pandemic when Trump wanted to close the borders to protect Americans the Democrats cried bloody murder, said he was “over-reacting”. Doesn’t matter what Trump says or does, Leftys will claim the opposite is true.

#197 VicPaul on 04.15.20 at 1:11 am

#86 Smoking Man

Having a tough week man, didn’t see the clip yet , trying to stay up.

I called the reversal a few weeks ago. In the archives

*********

Smokey….still making your calls… and often correct. You were an unapologetic antihero with a disdain for teachers (in our era, less understanding re: dyslexia and similar disfunctions -my son struggled to read the “mixed up letters” – he’s fine now, Journeyman electrician).
I want you to know that some of what you said/expressed/ranted about struck a cord – you are a man not afraid to make an outlandish contribution – your nights meeting your buddy at the club with increasingly blurry posts about the joyous waitress – but I digress. Thanks for the effort! Take it easy.

M56BC

#198 Jimers on 04.15.20 at 1:11 am

If I take the CERB it will be because I fully expect the Chinese Communist Party to pay for it, they started this mess and they should pay for it in reparations.

#199 VicPaul on 04.15.20 at 1:23 am

#140 Moh on 04.14.20 at 7:53 pm

Great post. Can’t wait to get a Lexus GX!

*********

Moh, have you not seen the LC 500 from Lexus…UHH!

M56BC

#200 Fused on 04.15.20 at 2:29 am

https://www.bnnbloomberg.ca/one-of-canada-s-largest-private-lenders-halts-redemptions-1.1421438

I posted a few days ago about MICs not allowing redemptions, more to come, if your in one get out while you can.

#201 Ustabe on 04.15.20 at 3:33 am

The spread of the corona virus depends on two things.

1) How dense the population is.

2) How dense the population is.

#202 Gaetan Gateau on 04.15.20 at 4:04 am

Pretty clear how this will play out after the peka of the pandemic. Authorities will try and keep a lock down in place, and economically hard up people will be revolt against it due to their being prevented earning money.
There will ensure a period of class driven social chaos and violence which will make Dr Zhivago look like play school.

#203 BillyBob on 04.15.20 at 5:12 am

#151 Terry on 04.14.20 at 8:35 pm
Fail…Fail……and Fail again. Hope-ium that there will be a vaccine. No Corona virus has ever had a successful vaccine….EVER! This current Corona virus will be back again and again and again. All social distancing did was delay/defer how many more people get infected with it. As the months and years go by almost everybody in the world will get this virus and if you are susceptible to it and you draw the short straw when you get it there will be very little anyone can do. Secondly, more Hope-ium for those who think our economies will be fine in a few months. The damage that has now been done is in a word “incalculable” at this present time. The breakdowns in our supply chains, the shortages in everything still to come, the ruptures in confidence, the demand erasure, the changing dynamics of what we used to do into who knows what? This world has structurally changed my fellow blog dogs and NOT for the better. I just don’t know what it has morphed into yet?

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

False comparison to previous coronaviruses.

There are two main, connected, reasons given for why a vaccine hasn’t been developed in the past. Previous outbreaks have died out before such a vaccine was possible and thus financially viable to produce.

Not the case at all with Covid-19.

And a vaccine is not the only line of attack, you are not accounting for promising treatments. Alas, all take take time.

Unrelated: why am I not surprised MF is a Drake fan?

What a sadly vapid entity to admire.

#204 Johnny Peede on 04.15.20 at 5:30 am

BANNED

#205 Wrk.dover on 04.15.20 at 6:26 am

Futures down this morning.

Maybe today Trumps syphilis addled brain gets priced in.

#206 Depression Dandy on 04.15.20 at 6:31 am

BANNED

#207 BillyBob on 04.15.20 at 6:41 am

And just to try and counter some of the extreme greed and selfishness displayed in the comments yesterday…

99yr old British war vet has now raised £4.8 million (about $8.8 million CAD) for NHS workers.

https://www.bbc.co.uk/programmes/p089g9mn

https://edition.cnn.com/2020/04/14/world/war-veteran-raises-millions-garden-scli-intl-gbr/index.html

As my sister remarked, “Captain Tom is the same generation as the Queen – class and care for country to the core.”

Exactly. The antithesis of “Mike’s” smarmy golfing buddies or CERB big-screen buyers or legions of self-justifying mo-fo’s all rationalizing away or rap stars who add zero value to society.

And this is how we aviators roll in the UK:

https://www.projectwingman.co.uk

“Project Wingman is a group of airline crew from across every UK airline, united by our profession and dedicated to serving you, our NHS staff during this COVID-19 crisis

We will provide you with a space to unwind, de-compress and destress before, during and after your shifts. For as long as we are able to, we will look after you and give you the best service we can just like you do for us.

We can’t help you with the medical and physical challenges of your job. Our training is different, but we can share the unique skills we have gained in our industry to support you while you do what you do best.”

Step up or shut up.

#208 Penny Henny on 04.15.20 at 7:43 am

Free money!
So many song choices Garth.

Simply Red – Money’s Too Tight (to mention)

https://www.youtube.com/watch?v=04zwhjRiCbo

Cyndi Lauper – Money Changes Everything

https://www.youtube.com/watch?v=04zwhjRiCbo

The Flying Pickets – Money (that’s what I want)

https://www.youtube.com/watch?v=04zwhjRiCbo

#209 Penny Henny on 04.15.20 at 7:50 am

My mistake on the third one.
It’s The Flying Lizzards

#210 PSL on 04.15.20 at 8:15 am

Goldman Sachs and JP Morgan say the bottom is in the rearview.
_____________________________

what else are they going to say? they have stock to unload to the sucker public.

the market is heading for new lows.

#211 Wrk.dover on 04.15.20 at 8:18 am

https://forge.medium.com/prepare-for-the-ultimate-gaslighting-6a8ce3f0a0e0

#212 crowdedelevatorfartz on 04.15.20 at 8:19 am

161 MF
“Closet Drake fan in denial?”

++++

Well, if anyone could spot a Drake fan coming out of the closet it would be you.

#213 Dharma Bum on 04.15.20 at 8:23 am

“millions of people watching Netflix and eating Cheetos in their skivvies”
——————————————————————–
…and waking up with orange privates…

#214 AK on 04.15.20 at 8:25 am

“How long do you believe it will take the economy to revive”

“Several years – 48.84%”
====================================

LOL. Probably the same people who will be waiting for the market to re-test the March 23, 2020 lows. :-)

#215 crowdedelevatorfartz on 04.15.20 at 8:31 am

Gee, I wonder if Vietnam will be a little more cooperative the next time China announces that the South China Sea is “theirs”?

https://www.reuters.com/article/us-mekong-river/mekong-river-groups-urge-china-to-show-transparency-after-dam-report-idUSKCN21X1LG

“Be nice to us or we turn off the taps….”

#216 Penny Henny on 04.15.20 at 8:34 am

#149 Drill Baby Drill on 04.14.20 at 8:16 pm
Penney Henney are you from Welland?
/////////////

Born/raised and lived in Toronto.
Moved to Welland 3 yrs ago to retire.

#217 crowdedelevatorfartz on 04.15.20 at 8:47 am

@#202 billybob
“Unrelated: why am I not surprised MF is a Drake fan?
What a sadly vapid entity to admire….”

+++
True, however, MF is Drake’s #1 fan in Toronto so he get to call him “Champagne Papi”…. apparently only vapid, subservient, fawning, kneeling members get that “honor”.

Drake’s got cred, growin up in the mean streets of Toronto’s toney Forest Hill “hood” an all dat….

Boomers had THIS created for tv audience band….

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

Admittedly a dreadful ripoff of the Beatles.

Millennials have the millenial version of a made for tv musician …….. Drake…….after he became bored with “acting” on the dismal Degrassi High 2000 remake.

Perhaps thats how he thought up his name.
Drake kinda rhymes with Remake….and he is a rapper.

#218 Penny Henny on 04.15.20 at 8:49 am

#181 mike on 04.14.20 at 10:49 pm
What are the actual consequences of applying for CERB if one does not actually qualify?

All I could gather for certain from a few minutes of perusing CRA publications is that it ends up being added to taxable income.

Is there just the underlying/unstated threat of finding one’s self on a “certain audit” list? Or has anyone found definitive statement of consequences?
//////////////////
On page two you have to certify the info provided and it does mention that filling in a false report is a criminal offence.

#219 YouKnowWho on 04.15.20 at 9:01 am

The more I read about what we know, the clearer my hypothesis is on how this will play out.

1. This thing is not going away, ever. Covid-19 is here to say.

2. If you get it, your immunity will be short lived – up to a year.

3. There will not be a vaccine. If there is, it will have to be annual.

I keep reading here and in other places about all the boomers getting old, living longer. What a burden they will be on government expenses, pensions, etc.

Seems the Blade Runner 2020 Flu is here to address humanity suckling on planet earth’s teat for too long.

Think of it like dynamic difficulty balancing in video games. It was getting a little too easy to hit the score of 80, 90, 100. Why you could smoke, drink and still make it! NO MORE.

The game made a little adjustment to difficulty level. Looks like we need to step up. Let’s hold hands and face it without fear.

Virus infection rates are miniscule as a percentage of the population and 95% experience mild symptoms. Spare us the emoting. – Garth

#220 Stan Brooks on 04.15.20 at 9:30 am

WCS at 4 bucks a barrel.

France is closing the borders until at least September, most likely the end of the year. Poor frenchies, let’s teach them a lesson and open the economy tomorrow. It seems the Ontario Premier is against it though.

The way I see it: some relaxation in early fall and then wait and see until at least April 2021. Some sources in US mention ‘social distancing’ until at least 2022. Let’s hope they are wrong.

Let’s see who built the house on solid foundations and who built it on sand.

Canada’s March GDP shrinks a record 9% on month amid coronavirus outbreak

https://ca.finance.yahoo.com/news/canadas-march-gdp-shrinks-record-124841651.html

How much will it shrink in 3 months, then 6 months or a year? How long will it take to recover/whatever that means? Who is going to pay the old and the new super-debt? The next generations? Sure…

Time will tell.

Cheers,

#221 Healthcare on 04.15.20 at 9:36 am

#135 “Is the pain of not having a job worse than still working and the potential to catch Covid-19 at work”?

_——————-_

It’s actually worse than that. There are many health care professionals working and potentially exposing themselves and family to covid-19 that are working so little that they are making less than $500.

There are 15 year olds sitting at home making $500 a week while Physiotherapists, Occupational therapists, social workers etc are working in the community making much less than $500 a week.

I’m at the point that I am no longer bulling for the healthcare I’m providing so that I qualify for CERB. How perverse is it that one is better off not billing for health care services when one is putting their health at risk in a pandemic?

#222 YVR Expat on 04.15.20 at 9:40 am

If you’re legally entitled to take CERB, then you should take it whether it’s ethical or not.

Corporations taking on loads of cheap debt to buy back stocks (to pump the share price) is perfectly legal and financially prudent as corporate directors have a fiduciary duty to the shareholders (ethics aren’t included).

That probably makes sense on your planet. – Garth

#223 Stan Brooks on 04.15.20 at 9:42 am

With Titanic sinking fast, the band is playing the same music:


Why the coronavirus might not mean big bargains for home buyers

https://ca.finance.yahoo.com/news/why-the-coronavirus-might-not-mean-big-bargains-for-home-buyers-210720634.html

But if lockdowns remain in place through the summer, Royal LePage expects prices to fall by a modest 3.0 per cent ($627,900) year-over-year.

I don’t know what this people are smoking.

My most optimistic prediction is decline in overvalued areas to 35-40 % of current valuations. Max.

We are at peak debt, zero rates, skyrocketing unemployment.

What customers/home buyers? This is becoming sadly delusional. Until you lose your job like forever. When it is somebody else it is a recession. When you lose it, it becomes a depression. What exactly is going to boost spending when/if the situation is resolved considering the debt and zero rates?

A new ‘Marshal’ plan with negative rates (minus) – 5 %,
inflation of 10-15 % and more debt? Sure.

Pass the booze.

Cheers,

#224 OK, Doomer on 04.15.20 at 9:43 am

Re: Sold Out

By the by, I’m a high-school drop-out that still retired at 51. At an age when you were asking yourself, “What do I wanna be when I grow up”, I was starting a business and building my own home.
+++++++++++++++++++++++++

Interesting, I was starting pubco’s in my 20’s, retired the first time in my thirties, went golfing for a year. I decided that it was a waste of life, took my Masters while raising my family and went back to work and built more pubcos. My latest project is cloud based software.

I doubt that I’ll ever retire. I’ve never been someone’s employee and I enjoy work much more than golf.

Now that the d1ck measuring part is over, your math skills still suck.

Anyone with a basics stats course will tell you that correcting for all of the variables of population, curve matching, timing etc. is well beyond the ken of Jim Acosta. Proper data analysis is difficult and anyone who tells you it’s easy is lying.

One thing I’ve found in my travels is that it’s usually the most uninformed people who hold the most solid opinions. Anyone with a working knowledge of a topic knows where the devils hide.

#225 the Jaguar on 04.15.20 at 9:50 am

@ Billy Bob and https://www.projectwingman.co.uk

I checked out the gallery photos to see if I could spot Captain Ross, but I guess he couldn’t make the photo shoot. Flight Crews always look so handsome in their uniforms.

#226 Harley on 04.15.20 at 9:53 am

BANNED

#227 To Jane 194 and Penny on 04.15.20 at 9:56 am

on bC $1.000
it actually starts in May.
Cheers
Penny post 217, enjoy your posts by the way.
When the government realizes the mistake they made I am sure they will be auditing. Everything is computerized.
I am sure someone went oh my gosh 6 million applied, hmmmmm
As I said there are 2.5 million on welfare that could be one explanation. Or someone was smart enough to get hold of dead people’s sin.or the government was hacked let’s hope no foreign addresses.
Another explanation is people not working or looking for a job probably applied. Canada’s employment participation rate fell from 65.5 to 63.5. In other words before the mass unemployment 35 percent of people where not participating in the work force.
Other than that I will let wiser people,explain.

#228 Sail Away on 04.15.20 at 10:01 am

#206 BillyBob on 04.15.20 at 6:41 am

And just to try and counter some of the extreme greed and selfishness displayed in the comments yesterday…

99yr old British war vet has now raised £4.8 million (about $8.8 million CAD) for NHS workers.

And this is how we aviators roll in the UK:

“Project Wingman is a group of airline crew from across every UK airline, united by our profession and dedicated to serving you, our NHS staff during this COVID-19 crisis

We will provide you with a space to unwind, de-compress and destress before, during and after your shifts. For as long as we are able to, we will look after you and give you the best service we can just like you do for us.

We can’t help you with the medical and physical challenges of your job. Our training is different, but we can share the unique skills we have gained in our industry to support you while you do what you do best.”

Step up or shut up.

————————-

That’s nice.

I’m sure all the healthcare workers sitting around their empty hospitals think you and Captain Tom are the cat’s whiskers.

What’s the money for?

#229 OK, Doomer on 04.15.20 at 10:03 am

#179 Faron on 04.14.20 at 10:40 pm

Deaths per million (that means pop adjusted rates):

USA – 79 (11th among countries of any size)
Canada – 24 (19th among same)

Cases per million:

USA – 1855 (9th among same)
Canada – 717 (25th among same)

Tests per million:

USA – 9260
Canada – 11942

There is plenty of evidence Trump failed his constituents bigly by blending politics and his ego with the response of his administration:
_________

The US is ahead of Canada on the curve. Do the same analysis using US data from two weeks ago and Canada’s today’s data.

Also the COVID train-wreck US states are all run by Democrats and have been for decades. They were the most unprepared and sold off their emergency supplies to pay for their pet “Social Justice” programs like “Drag Queen Story Time” for kids in the public libraries. They were also the ones screaming and begging Trump for help and he delivered.

But I get the feeling that you’ll give the Dem’s staggering incompetence a pass.

#230 Sail Away on 04.15.20 at 10:12 am

#222 OK, Doomer on 04.15.20 at 9:43 am

——————

Re: Sold Out

Don’t be too hard on SOs math. He/she was just irritated that Trump donates his salary to charity, and needed to prove he (Trump) was a demon.

#231 Figure it Out on 04.15.20 at 10:15 am

“95% experience mild symptoms”

What’s the source of this stat? worldometers.info reports Canada’s death rate as 10% of closed cases. Worldwide, reports are of about 492,000 recovered and 128,000 dead, for a rate of 21% of all confirmed cases.

“Closed” cases not the same as “confirmed” or “active.” Consistently those who get the virus have mild symptoms (95%) while a minority are serious (5%). The mortality rate is not 21%. – Garth

#232 Sail Away on 04.15.20 at 10:21 am

#183 Ponzius Pilatus on 04.14.20 at 10:56 pm

The old adage “give a guy a long enough rope ……..”.
perfectly fits the Sailor who refuses to sail away.

—————–

Yes, yes… “…and he’ll use it to lasso women.”

Works like a charm

#233 Sail Away on 04.15.20 at 10:32 am

#220 Healthcare on 04.15.20 at 9:36 am

#135 “Is the pain of not having a job worse than still working and the potential to catch Covid-19 at work”?

—————–

It’s actually worse than that. There are many health care professionals working and potentially exposing themselves and family to covid-19 that are working so little that they are making less than $500.

I’m at the point that I am no longer bulling for the healthcare I’m providing so that I qualify for CERB. How perverse is it that one is better off not billing for health care services when one is putting their health at risk in a pandemic?

—————–

You do know it’s not actually that dangerous to your health, right? Hence, not that much risk.

What exactly did healthcare workers think awaited them in the healthcare field? ‘Grey’s Anatomy’-type romance and intrigue?

#234 YouKnowWho on 04.15.20 at 10:35 am

Virus infection rates are miniscule as a percentage of the population and 95% experience mild symptoms. Spare us the emoting. – Garth

Garth, I’ve read up on the subject, and while I’m no expert I’m basing my hypothesis on what the experts in the field are stating in models. It’s a complicated issue, but it’s worth doing the reading because eventually you can put 2 + 2 together.

Mild symptoms you describe is quite likely due to recent exposure to the common cold, family of which Covid-19 is in. Since Covid-19 is from the same family, those who recently had a cold maybe experiencing a milder version because of the short lived immunity boost having a cold would have provided.

But more importantly, these individuals you speak of, the 95% with mild symptoms are the ones who are likely to continue to keep Covid-19 alive and spreading in the population endlessly.

It’s clearly a scenario that’s not only plausible and highly likely in fact.

Harvard epidemiologists are now realizing the odds of this possibility are very likely. Studies have taken place.

>
The study is based on what we know about SARS-CoV-2’s closest evolutionary relatives. Coronaviruses are a family-level designation, two steps up from species. One step up from species is genus, and there are four coronavirus genera (alpha, beta, gamma, and delta). SARS-CoV-2 is a member of the beta coronaviruses, a genus that includes subjects of prior pandemic fears like SARS-CoV-1 and MERS. But it also includes two species that are less threatening and more annoying: HCoV-OC43 and HCoV-HKU1, which are collectively the second-most common cause of cold-like symptoms.

The reason these cold viruses cause so much annoyance is because they fail to generate long-term immunity. By a year after infection, people’s immune systems seem to have forgotten they’ve ever seen the virus.

#235 Patty on 04.15.20 at 10:37 am

Garth, I am in my seventies now and am really getting frightened that covid will be taking out me and a lot of my friends. Most of us don’t have completed estate planning done yet and are worried what may happen if some assets decline.

Could you maybe do some more blogs about estate planning in the weeks ahead? That would be very helpful I think to many here.

Relax. The odds of you becoming infected (if you follow the rules) are very low. If you do get C19, the chances of demise are slight. If you watch the news too much, you might die of shock, however. Estate planning? Yes, get a will and POAs in place – no matter your age. – Garth

#236 calgary rip off on 04.15.20 at 10:38 am

Thank you for your continued posts.

No I would not take the money unless I really needed it. Why? I am a steward of what I have. I consider everything I have temporary. It is in my possession and maybe technically I own it. Again all things are temporary. What matters to me most is progression. If something such as money can help me to progress I will obtain it. The main thing for me is mental space and having time to do what I want, unencumbered.

When I was a grad student I subsisted on corn meal, eggs, wheat flour, occasional fruit, and dried milk along with canola oil. Probably not the best for my health. I supplemented with vitamins daily. Having more stuff sometimes actually increases stress.

Having things is more about having tools. There is a difference between want and need. I want to have 1000 acres with no neighbours. Do I really need this? No.

I often consider that i feel more stressed now earning a six figure income than when I was earning $5/hr on a commission selling gym memberships at 24 hour fitness in Houston Texas in 2000. The stress never goes away. Now its dealing with healthcare politics and doctors timing. Previously stress was about having enough money to survive. Both stressors are real. Considering that oil is done though in Alberta and the Covid bat nonsense is here my focus is doing the best for each and every patient I see. The most satisfying thing each day is doing good work and helping patients to start to heal. That is why I get up each day.

I have great respect for those with not enough money. I have been there. And consequently if I dont need the money someone else should have it I have enough for my needs.

This life is a probationary state. I consider each day to be my last potentially. I am grateful for the opportunities I have each day to improve.

#237 YouKnowWho on 04.15.20 at 10:39 am

Garth,

Here is the link to that study summary and model of “Covid-19 is here to stay.”

It’s one of the most logical things I’ve read on this subject and it makes perfect sense.

At this point, with this level of penetration into population, you’re not squashing this. If it was that easy, AIDS would be gone by now too.

https://arstechnica.com/science/2020/04/new-model-looks-at-what-might-happen-if-sars-cov-2-is-here-to-stay/

#238 TurnerNation on 04.15.20 at 10:39 am

A very good chance, this event is being used to take control of our food supply. Evidence.
– Last year the news was all over “Ghost kitchens” – use only for meal delivery. What we have now is basically all restaruants operating in this capacity.
– Last year major supermarkets launched Buy online, pick up at the store services. What we have now is this.
– Last year Fake meat. Vegan programming and advertising all last year, an unlimited budget but by whom?
Once again, the tax farmer controls our breeding (they have our DNA) and feeding. Nothing in this world is left to chance. It all makes sens once you admit it.

At this point our stores are closed, curbside only. Walmart, Cdn Tire, Lowes, Home Depot. I expect supermarkets to be shuttered soon for maximum traumatic effect. Already new rules and a hard time obtaining food due to shortened hours and lines.

Is the govt gunning to take over food production? They do control the flow of TFW so badly needed.
– I read a report on a forum, that a local landscaping company was requested by the govt to start food growing.
– This in the news:
“As of November, 2019, according to calculations by cannabis analyst Chris Damas, there was at least 23 million square feet of cannabis greenhouses in Canada and more than three million square feet has since been shuttered. Hexo chief executive officer Sebastien St-Louis says, “If we were called upon by the government to use our empty greenhouses to grow vegetables, yes, of course, we would do it.” The Post says Hexo was forced to close down a large greenhouse in Niagara, Ont., last November as part of cost-cutting measures taken in the face of declining revenues.”

#239 YouKnowWho on 04.15.20 at 10:47 am

Garth, that MAY actually be the solution.

EVERYONE is given the common cold, one of the two safe varieties, to boost their immune system against Covid-19 to help it be a mild case.

BUT, it still does not kill off Covid-19.

#240 Healthcare on 04.15.20 at 10:53 am

#232 “You do know it’s not actually that dangerous to your health, right? Hence, not that much risk.

What exactly did healthcare workers think awaited them in the healthcare field? ‘Grey’s Anatomy’-type romance and intrigue?”

__—————_

I realize the risk is next to zero. I accept that risk and take precautions to reduce the risk to next to zero.

My point is that we are working to help those in need while being compensated less than a 15 year old doing no work. I have a family to support.

What did I expect? To be compensated fairly while helping others.

#241 Stan Brooks on 04.15.20 at 10:55 am

Opening a bottle of quality SA Chardonnay and remembering the 160 $+ bottles of white wine in a posh french restaurant in Toronto frequented by RE agents, thinking of what they might be drinking now and what will be happen to all those leased Audi-es…

…Oh, the horror, the shepple suddenly stopped buying homes and needs at least 20 % + down-payment at times of mass unemployment, when banks do not approve loans, oh how strong is the cry of the empty stomach, realizing that the good old times are never ever coming back… at least not in this lifetime…

What happened to all those leased investment properties with people not paying their rents…

Thinking to donate some money to depressed real estate agents help line. Arguably they are people too/though some might disagree.

Detroit-zation to some extent of GTA is possible. Even with Chicago-ization we are talking about 3 fold decline of the real estate minimum. The sweet commissions are gone forever.

You win from the lottery when you cash the winning ticket. If you don’t and it expires, it is over; you certainly can hang it framed in the washroom and dream about how you could have been rich, but that damn virus…

Cheers,

#242 Lambchop on 04.15.20 at 10:58 am

https://www.google.ca/amp/s/www.bloomberg.com/amp/news/articles/2020-04-14/imf-says-great-lockdown-recession-likely-worst-since-depression

Well that’s not scary

#243 Sail away on 04.15.20 at 11:00 am

#206 BillyBob on 04.15.20 at 6:41 am

——————

BB, the numbers show the UK as a whole has 7 nurses and 3 doctors for every positive Covid case.

That seems enough without over-the-top fundraising and support groups in solidarity. I assume the medical staff are still being paid, no?

That said, a human-interest story is always nice.

#244 not 1st on 04.15.20 at 11:11 am

Dollar touching 70c this am. Look out below.

#245 YouKnowWho on 04.15.20 at 11:12 am

T-minus 2 weeks from allergies kicking into gear.

Then it’s going to get REAL!

…plus, all these people sitting in doors, not exposing themselves to nature. That will surely not help our immune systems from going nuts in the future – making more people more allergic than ever perhaps?

#246 NoName on 04.15.20 at 11:16 am

This is funniest joke i ever heard, it even funny
with my translation to english.

There was a group of friends, that knew so many jokes so in their past time they would gather together for drink and tell eachother jokes. Over time to save on time they assigned numbers to jokes, so instead of spending 5 min telling a joke one would be simply saying 48, and they knew what that joke was.

At some point they meet new buddy and they welcome him to “joke club”. One time they go to their drinking hole and start telling joke to echoder. First guy sad 27, they laugh, now second dude 58, they commented ya that was funny. Than third guy sad 127, and only new guy is laughing, they were puzzled so someone from original group comments, but that joke isn’t that funny, on what on what new guy replies, it is to me i never heard it before.

Tere you have it funniest joke ever, i know it for over 20 yrs!

#247 Wrk.dover on 04.15.20 at 11:17 am

Didn’t Drake used to be Adelle?

#248 Sail away on 04.15.20 at 11:24 am

#234 Patty on 04.15.20 at 10:37 am

Could you maybe do some more blogs about estate planning in the weeks ahead? That would be very helpful I think to many here.

“Estate planning? Yes, get a will and POAs in place – no matter your age. – Garth”

——————

POAs are hardly worth the paper they’re written on when dealing with banks. While you’re still with it, I’d suggest creating a very detailed summary of your situation and putting a copy in a safe deposit box.

Consolidate everything. If you have stocks that came with physical certificate, go through the process now to get them all in the Direct Registration System.

Lots of considerations. Mainly, be organized.

#249 YouKnowWho on 04.15.20 at 11:24 am

By the way Garth, further to that 95%

This Covid-19 – first wave is people who got hit, are in they higher risk.

They have a connection to Wuhan. Or then traveled on planes. Or were front line health care workers.

The likelihood their lifestyle exposed them to a cold in the past year is very high. They just powered through no problems. And THAT would be a big contributing factor as to why 95% have mild symptoms.

Scale this out more broadly, would it be out of question that many people had the cold over past year or so? Especially considering that this is breaking out on the tail end of the Oct-May cold/flu period?

It would be interesting to see regions where the common cold is not so common. Perhaps Italy is hard hit because the cold doesn’t grip there as much? Perhaps there was no cold/flu season in Italy over past year, so much fewer mild symptoms Covid-19 infections there? I don’t know.

But it would be valid to look at the 95% mild symptoms in areas where the common cold is not so common, and where the winter cold/flu season is not so significant. Are the mild-symptoms people with Covid-19 a smaller %?

Worth paying attention to this point, if and when data becomes available.

#250 Barb on 04.15.20 at 11:27 am

The TV’s on at 8:25 a.m. (of course).

I just heard T2 say “no”.
To what I have no idea as I’m not watching.

Have never heard him say NO before.

#251 Sail away on 04.15.20 at 11:29 am

#239 Healthcare on 04.15.20 at 10:53 am
#232

“You do know it’s not actually that dangerous to your health, right? Hence, not that much risk.

What exactly did healthcare workers think awaited them in the healthcare field? ‘Grey’s Anatomy’-type romance and intrigue?”

—————-

I realize the risk is next to zero. I accept that risk and take precautions to reduce the risk to next to zero.

My point is that we are working to help those in need while being compensated less than a 15 year old doing no work. I have a family to support.

What did I expect? To be compensated fairly while helping others.

—————-

I assume there’s no work because no patients? Meaning empty hospitals?

Join the club of non-workers.

#252 Faron on 04.15.20 at 11:30 am

#228 OK, Doomer on 04.15.20 at 10:03 am

“The US is ahead of Canada on the curve. Do the same analysis using US data from two weeks ago and Canada’s today’s data.”

————–

Nope, look at the data. Canada started to flatten at the end of March, the US took almost a week longer. If you blur your eyes, at best you could say they are on the same timeline.

————–

“Also the COVID train-wreck US states are all run by Democrats and have been for decades.”

————–

They also have the highest population density. With a contagious disease, don’t you think that might be a problem? Why do you think cruise ships (stuffed to the gills with republicans BTW) have such huge problems?

Also, Ontario’s premier is about as Trump as they get up here and that province is one of the worst hit. Again, population density. He also managed to shelve his politics and work hard to protect his constituents.

————–

“They were the most unprepared and sold off their emergency supplies to pay for their pet “Social Justice” programs like “Drag Queen Story Time” for kids in the public libraries.”

————–

First, prove it. Second, I’m almost sure the drag queens read for free. Really a win-win situation.

—————

“They were also the ones screaming and begging Trump for help”

—————

Anyone with a soul would ask for help from the feds or anyone if they were faced with clogged hospitals.

—————

“and he delivered.”

—————

No, he didn’t. He picked favourites among governors, completely failed those he didn’t like and patted those he did like on the back. Regardless, he was claiming that the virus wasn’t going to be a problem until 99% of his staff was shouting in his ear that he needed to act.

And now that the “staggeringly incompetent” democrats in the coastal states are planning to open their economies and possibly help get the nation’s GDP out of the gutter, he’s telling them they don’t have the power or the right. Trump is an example of taking any incompetent jerk off the street (like you or I) and putting them in a place requiring great skill. He’s fumbling every ball and making the US look like garbage.

—————-

“But I get the feeling that you’ll give the Dem’s staggering incompetence a pass.”

—————-

Again, show us how they are incompetent. Or simply show us that this isn’t just a verbatim reiteration of a Rush Limbaugh rant.

Also, I don’t understand the Trump apologists. I have the sense that if you folks were living under Hitler you would be the ones looking the other way or praising his actions even as those actions slid into ethical horror.

#253 Paul on 04.15.20 at 11:31 am

DELETED

#254 RyYYZ on 04.15.20 at 11:34 am

#116 Bark on 04.14.20 at 7:01 pm
I’m surprised by answer # 3. But I wonder if it was phrased as ‘would’ you take it anyway vs ‘will’ you take it anyway if we’d have seen different results. I’m guessing many people said no simply because they didn’t qualify.

Exactly. I’d take it I qualified for it, even if I don’t need it. To my thinking, if the government is handing out free money, you’d be a fool not to take it. I have no moral qualms about that.

However, I don’t qualify, and applying for it would be fraudulent, which I do have moral qualms with. Plus I fear the possible punishment.

#255 Sail away on 04.15.20 at 11:39 am

#224 the Jaguar on 04.15.20 at 9:50 am

@ Billy Bob and https://www.projectwingman.co.uk

I checked out the gallery photos to see if I could spot Captain Ross, but I guess he couldn’t make the photo shoot.

Flight Crews always look so handsome in their uniforms.

—————-

You want Ponzie’s rope when I’m done with it?

#256 Figure it Out on 04.15.20 at 11:51 am

“Active” means tested positive and hasn’t yet died or recovered. “Closed” means tested positive and subsequently died or recovered. Many people with only mild symptoms or none at all have not been tested. Which means these death percentages are a ceiling rather than a best guess. Iceland reports from random testing that “43% of the participants who tested positive reported having no symptoms, although symptoms almost certainly developed later in some of them.” (1) Germany reports that in a particularly hard-hit region, 14% of the population tested positive for antibodies.(2)

Anyway, some of the recovered cases had been on ventilators, hardly “mild.” I don’t think things will end up as bad as some of the more panic-prone think. Signs of hope include Canada’s numbers being quite a bit better than the US’s, and California somehow avoiding a bigger outbreak. But I haven’t seen anything supporting the “95% of cases are mild” assertion.

(1) https://www.icelandreview.com/news/assurance-and-alarm-from-new-covid-19-study/
(2) https://www.technologyreview.com/2020/04/09/999015/blood-tests-show-15-of-people-are-now-immune-to-covid-19-in-one-town-in-germany/amp/

#257 Ronaldo on 04.15.20 at 12:01 pm

DELETED

#258 China Doll on 04.15.20 at 12:10 pm

Wow !! Trudeau-Bucks sweep the nation. Never mind the minimum wage, everybody gets a jump to $2500 a month. This is what hyperinflation looks like folks, and hyper taxes too. Weeee Hooooo we’re going down the toilet.

Recession is 2 Q of negative growth, what happens when it’s 9 ? And that was March, April’s WAYYYY WORSE !!! This is worse than the Dirty 30’s.

When does the New World Order step in and abolish free enterprise in exchange for a ONE WORLD WELFARE STATE?

http://www.bnnbloomberg.ca/bank-of-canada-holds-key-rate-at-0-25-plans-more-asset-purchases-1.1421812

This is ugly, it won’t end soon. The Preppers were right all along. If you don’t have 5 years cash, you won’t survive. Even if they do a restart there’s still going to be millions whose jobs are gone FOREVER !!!

#259 Hawk on 04.15.20 at 12:14 pm

#128 Don Guillermo on 04.14.20 at 7:30 pm

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

That was funny, admittedly. However, here’s what’s far FUNNIER about the Captain’s extended crew members response to the Iceberg. (DEMOCRATS)

1. Do nothing useful EVER

2. Launch the 23rd fake impeachment inquiry against the captain.

3. Keep plotting mutiny, day and night, against the Captain.

4. Criticize the Captain from the very beginning the that the Iceberg was spotted for sealing the lowest water compartments borders and then later agree long afterwards it was the right decision all along. Instruct all their controlled news sources to skim over this all important fact.

5. Demonize the Captain as racist for pointing out that Iceberg originated from the North Sea………..when in fact the Iceberg originated from ……. (wait for it) ……..the North Sea.

6. Keep thwarting the emergency response team to patch the holes in the Titanic as they emerged by demanding endless useless “additional clauses and processes” be added to the response, while some of the folks in the lower decks are literally a third submerged in the water.

7. Keep hiding in their own upper cabins, unable to launch any coherent instructions since they suffer from dementia, LOL while the Captain and first mate work continuously to make the best of a bad situation.

Too funny LOL!

#260 Sail away on 04.15.20 at 12:14 pm

#251 Faron on 04.15.20 at 11:30 am

Also, I don’t understand the Trump apologists.

I have the sense that if you folks were living under Hitler you would be the ones looking the other way or praising his actions even as those actions slid into ethical horror.

——————-

General agreement with policy is not apologist in any way. Completely different definitions.

And conflating policy agreement as support for genocide? Good work. Incisive. Not even a little bit nutty.

#261 Ronaldo on 04.15.20 at 12:14 pm

#201 Gaetan Gateau on 04.15.20 at 4:04 am
Pretty clear how this will play out after the peka of the pandemic. Authorities will try and keep a lock down in place, and economically hard up people will be revolt against it due to their being prevented earning money.
There will ensure a period of class driven social chaos and violence which will make Dr Zhivago look like play school.
—————————————————————-
You may not be to far off on this. It could make the yellow jackets, the riots in Bejing, our own railway blockades, etc. look like a Sunday school picnic. The young people are not going to stand for this too much longer.

What I would like to see are the stats on deaths caused by the 2018/19 season for flu and pneumonia published alongside the Covid19 deaths for the same period of time. I suspect that you would see a substantial decrease in regular flu and pneumonia deaths. Why aren’t we shown this? It would tell us something. Things are not always as they appear.

#262 Sask to AB on 04.15.20 at 12:14 pm

re #67 just a dude on 04.14.20 at 5:08 pm
Garth,

Thanks for organizing yesterday’s survey. It’s great to see so many blog dogs so nicely aligned (and a relief after daring to read a few of the extreme posts on here!).

Thanks for all that you do.

And thanks to those reasonable blog dogs who take the time to share helpful and interesting thoughts and perspectives.
————————-
I agree. Thanks for your post.
F57AB

#263 Kevin on 04.15.20 at 12:14 pm

Hi Garth, can you post a note about your thoughts about the USD/CAD currency exchange rate? I read on the Globe that some people think .60~ range is possible… and with our key industries being hit, and our government debt ballooning, I don’t think it’s too crazy of an idea. I’d love to heard your thoughts on this.

#264 Sold Out on 04.15.20 at 12:26 pm

#229 Sail Away on 04.15.20 at 10:12 am
#222 OK, Doomer on 04.15.20 at 9:43 am

——————

Re: Sold Out

Don’t be too hard on SOs math. He/she was just irritated that Trump donates his salary to charity, and needed to prove he (Trump) was a demon.

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

Well, it seems more Americans share my opinion than yours.

Cult #45’s approval rating sinking lower than Jimmy Carter’s in 1980. How many terms did the electorate reward Carter with?

https://www.politico.com/news/2020/04/08/trump-approval-ratings-coronavirus-176105

#265 LP on 04.15.20 at 12:34 pm

Years ago, when my Dad was in a nursing home with dimentia, there was a facility-wide quarantine for some stomach virus or other. The lock-down lasted for 6 weeks. During that time my Dad forgot who I was. He never again recognized me as `me’. He died in 2008.

Fast forward to today, my Mom (almost 96) lives in the same nursing home and is, of course, unavailable to visit. Despite daily phone calls from me and my 2 brothers, she is fast losing connection to reality. Her conversations are rambling, her recollections confused; she no longer completes sentences. Yesterday she told me that she’s glad her daughter phones her often, seemingly unaware that I am said daughter. We are afraid we will never again see our mother in person before she forgets us, or worse, before she dies.

I offer up this family story because I believe the
sacrifices we all are making – staying home, distancing where possible, eating through our pantries and freezers – are truly small sacrifices in the bigger picture.

#266 YouKnowWho on 04.15.20 at 12:39 pm

Yup.

Fight a virus, with a virus!

Common Cold is the perhaps the weapon against Covid-19 to ensure those who get Covid-19 experience mild symptoms Garth.

Not scientific, and no proof on this yet. However, it seems like a lot of evidence is pointing in that direction.

Not a virus blog. – Garth

#267 Sail away on 04.15.20 at 12:52 pm

#263 Sold Out on 04.15.20 at 12:26 pm
#229 Sail Away on 04.15.20 at 10:12 am
#222 OK, Doomer on 04.15.20 at 9:43 am

—————

Re: Sold Out

Don’t be too hard on SO

—————

Well, it seems more Americans share my opinion than yours.

Cult #45’s approval rating sinking lower than Jimmy Carter’s

—————

My opinion? My only stated opinion is that it’s good Trump donates his salary to charity… The rest was all you.

My opinion still is that donating his salary to charity is good. You seem to disagree with this.

#268 Figure it Out on 04.15.20 at 12:57 pm

“What I would like to see are the stats on deaths caused by the 2018/19 season for flu and pneumonia published alongside the Covid19 deaths for the same period of time. “

Here ya go
https://www.cdc.gov/flu/weekly/index.htm

“I suspect that you would see a substantial decrease in regular flu and pneumonia deaths.”

Nope.

“Why aren’t we shown this?”

You didn’t look. The truth is out there. You just have to google a bit.

#269 Penny Henny on 04.15.20 at 1:00 pm

Have many been praying to the wrong God?
“So, millions of Californians heard the governor announce Musk’s heroic donation of “ventilators.” Yet not one unit has been delivered – and Musk likely never had the real ventilators our hospitals need.”

https://www.sacbee.com/opinion/editorials/article241982586.html

#270 Left GTA on 04.15.20 at 1:52 pm

@ 212 Dharma Bum

That was so funny I almost fell out of my chair laughing. Omg too funny.

#271 Steven Rowlandson on 04.15.20 at 1:55 pm

Just trying to apply for CERB money set off my BS detector. I’ll likely tough it out. Just glad I don’t have all the expenses that come from trying to live in Canada. The benefits of living in a Honda Civic. This lock down shut down the amenities that make life tolerable though…. So me and my fellow vehicle and tent dwellers are roughing it on steroids lately. The debts public and private in this country are out of control in my opinion fortunately none of them are mine.

#272 Butcher on 04.15.20 at 2:13 pm

I’m golfing ‍♀️ today after lunch

#273 Stan Brooks on 04.15.20 at 2:16 pm

#257 China Doll on 04.15.20 at 12:10 pm

It seems food prices are about to increase significantly, when you read 15 %, expect much more. Note that is without the calculated depreciation of the loonie/7 + % YTD.


https://nationalpost.com/opinion/john-ivison-the-reality-about-food-and-drug-shortages-due-to-covid-19

The cumulative effect, according to a recent report by the CD Howe Institute, is likely to be food price increases estimated at between 10-15 per cent. That number is not helped by the depreciation of a Canadian dollar that has fallen seven per cent since the start of this year, relative to the U.S. dollar.

Canadians will have enough food to eat. But it will be more expensive.

And the beauty of it?

‘Inflation’ will be as always sub 2 % so all is good folks!

Cheers,

#274 Ejeff on 04.15.20 at 4:20 pm

Example of government hungry for power:

https://nationalpost.com/opinion/john-carpay-albertas-bill-10-is-an-affront-to-the-rule-of-law

Its very disturbing the things they now have the power to do, forced vaccinations and tracking via cellphone. When does this end? We should be much more worried about our loss of freedoms than this virus.

And also, in regards to people not waiting much longer to rebel it’s already in the works. See #WeWontStayHome

#275 Moh on 04.16.20 at 11:11 am

#199 VicPaul on 04.15.20 at 1:23 am

I love cars like the LC 500.

But the GX and LX are far more practical now I have kids and two nieces and want to take them camping, drive to Disney (one day hopefully).