The Big D

Fear and loathing in Calgary yesterday.

.

Tom’s a Westjetter. A pilot. He married April, whom he met at the Calgary airport six years ago. In Starbucks, Concourse D. She works the cabins.

So now they’re both out of a job, despite Ottawa’s payroll subsidy plan. The airline laid off most of two thousand pilots a few days ago, as it sinks deeper into the abyss. Most routes cancelled. US flights suspended. Passenger loads down 95%. The new owner, Onex, says it has enough cash to keep its 36 businesses afloat through the pandemic, but many people (Tom’s one of them) doubt if normal will ever return.

Not just Westjet, of course. Air Canada has cut 90% of its routes. Travel has been decimated. In downtown Toronto the upscale King Edward Hotel, owned by Omni, was running at 100% occupancy six months ago with rooms starting about $700 a night. It’s shut now. Everybody, from the uniformed doorman unloading limos to the kitchen staff and lowly room cleaners is laid off. The flagship Royal York Hotel is collecting food donations for its furloughed staff. Hotels in Halifax, the cruise ship capital of Canada, are closed. There will be no ships this year. Hotel Vancouver is shuttered. So is the Chateau Laurier, perched elegantly beside the Parliament buildings.

We need to think about such things, in case they portend an altered future.

This is why a barrel of oil became worthless on Monday, and remains in the dumps. Transportation consumes 60% of the world’s crude, and oil has been our nation’s largest export. But when Tom isn’t flying, when the hotels are closed and the highways are empty, demand collapses. So do commodity prices. Now Airbnb is essentially kaput, putting added downward pressure on real estate values. Economies hobbled by the virus have cut energy consumption by a third in just a month. There are now 26 million Americans collecting jobless pay and seven million Canadians are on the dole. Never happened before, so deep, so fast.

As of this week, 80% of all small and medium-sized business in Canada are shut, or barely operational. Estimates are that tens of thousands of them will never open again. Jacob knows. He opened a hair/spa business in Vancouver a couple of years ago, and told me this week that revenues fell from forty grand a month to zero. All cash flow went to employees, overhead and debt repayment. Now he has seven years left on a lease costing him $11,000 every four weeks. “I’m done,” he says.

Add in climate change and the political pressure mounts to never return to the way things were ‘way back when – in February. Oil locked into the earth. Parked planes that never fly. Employees working from home, emptying the roads. A global economic and environmental reset, brought on by the most unlikely force – cooties.

If this becomes our future, change will engulf us. Our resource and real estate-dependent economy will be impacted. Cheap oil and falling asset values are disinflationary at first (Capital Economics now says inflation will tumble below zero), then possibly deflationary.

There’s no guarantee this will occur. Hopefully it will not. In the best case scenario, the planes will start flying again (in a limited way) in June, hotels will edge back into operation and people may start planning business trips and vacations for 2021. Restaurants could recover – or patrons may balk at servers in masks and tables set metres apart. Large corporations may conclude it’s cheaper to have people pay personal mortgages and rents and supply their own toilet paper at home than to warehouse them in expensive towers. So no commuting. Fewer new cars. Less fuel. Lower insurance. Gas taxes fall. Commercial lease rates, too. Vacancies. Municipal revenues decline. Fewer workers. Unemployment becomes structural.

In a deflationary world prices go down, not up. Incomes also decline, so things don’t get more affordable. Just the opposite. Debts remain and become harder to pay. This can be fatal with real estate, where the value of the property fades with demand, but the financing upon it remains as a legacy of the pre-pandemic world. Rents drop. Landlords earn less. Condos take a hit.

In the midst of deflation pulling economic activity south, governments are faced with supporting the permanently unemployed. Coming off a pandemic where politicians opened the floodgate and spent as never before in history, amassing epic deficits and debt, can the spigot be turned off? There will be pressure to raise taxes, but without the economic activity to support those levies. Either public debt builds wildly, entombing the next generation, or benefits fall.

Now, once again, let’s make it clear deflation is not on the horizon and Mr. Market fully expects an economic rebound to come. Pent-up demand will have people out shopping again. Factories will be running overtime to make up for lost months. Families will still want holidays, new clothes, haircuts, pizzas, toys and houses to live in. The world in September will likely not be the dystopian one we now inhabit.

But, but, but. Will there also not be change?

If you believe so, be careful. Deflation is the enemy of property. Having the bulk of your net worth in one real asset, especially when ten-times or 20-times leverage was used to buy it, could be financially fatal. Deferring six months of mortgage payments now, only to have all that debt added to your principal later, could be a bad decision. Hanging on to a rental condo with its nebulous (or negative) cash flow could be a big mistake if values falter. Owning four or six units bought as short-term or vacation rentals could be a serious income drain. Holding real estate in regions where resource industries reside could yield sustained losses.

In such a world, cheap debt helps. Refinancing old loans at post-pandemic levels would be wise. So would be selling property where the income stream’s in doubt. In a world of deflation, owners pay and tenants rule. Try evicting somebody for non-payment, and find out.

The greatest defence in a deflating time? Liquidity. Assets that can be sold quickly and easily, while generating dependable cash flow. That does not include your house.

 

286 comments ↓

#1 TurnerNation on 04.23.20 at 3:14 pm

*This might be the most important post I’ve made yet

People don’t realize it yet but our elite rulers have kicked off WW3.
– This is a Global battle, in every country; it will last many years.
– Government spending is at war-time intensity without check.

In only a few weeks the propaganda war has people convinced we all are walking Bio-weapons.
That’s right. Watch people leap out of your way. You could go off any any time!
We are so dangerous – as active healthy people – that our rulers order us 6 feet apart.
Our trusted law enforcement guards enforce this prison-like spacing and line-up.
– At 6 feet away a private conversation in public is not possible; speak loudly, no whisper. Smart devices.
– There is no news or science being provided, only misdirection and speculation.

– It is 24/7 war TV coverage, the score updates in real time: Win-Lost-Tie
– How many people do you know mowed down already by the economic hit? The stats are huge.
– How many friends and family have you lost, they defected over to the enemy’s camp?

– All non-wartime activities are cancelled, remember the ‘Cancel Culture’ effect from last year? This is it.

– Food rationing is a staple of wartime. They are closing ONLY the Meat plants. And limiting TFW.

LOOK around your neighbourhood. (No wonder they don’t want that) and see the blackened, darkened closed stores and businesses. All, economically bombed to shreds overnight.
What will become of all that land and property? I know, might mention it another day
– Look at your parks and kid’s playgrounds. Taped off like Minefields. These zones are hot; there are signs warning of how dangerous are these areas. Walk through, do not stop.
The Crown just took back all its land – no access to Parks.

->Wars are fought over land – which is why the #1 message of ‘stay inside’ – and, by way of travel permits and biodiversity laws slowly all but the cities will become off limits. This is climate change policy on steriods. Just a faster rollout.

#2 jack on 04.23.20 at 3:22 pm

“Deferring six months of mortgage payments now, only to have all that debt added to your principal later, could be a bad decision.”

Ran the numbers on my 600k mortgage – now at 1.45%. Works out to be about $4500 added to the principal – chump change.

#3 FREEDOM 57 (I was a slow learner) on 04.23.20 at 3:23 pm

Rental and Airbnb condos are basically doomed. A great article on the death of Airbnb that needs to be read. Titled “Is this the end of Airbnb? Hosts are calling it the Airbnb apocalypse. But it’s more akin to an enema”

https://www.wired.co.uk/article/airbnb-coronavirus-losses

#4 Dolce Vita on 04.23.20 at 3:25 pm

In a historic time of crisis, you continue to be EXCELLENT Garth, just excellent.

Be it summarizing fast moving events, their analysis and summary with recommendations…you NEVER disappoint.

#5 The DEBT LOVER on 04.23.20 at 3:25 pm

Some legacy SOAP OPERAS to keep you all couch potatoes busy.

Guiding Light – into Bankruptcy
As the World Turns – into DEBT
Days of Our Lives – in DEBT
One Life to Live – so live it in DEBT
All My Children – live in DEBT
The Young and the Restless – are in DEBT
The Bold and the Beautiful – are in DEBT
Dallas – didn’t do it without DEBT
Dynasty – Supplied the DEBT

NETFLIX requires a CREDIT CARD to watch these shows. MORE DEBT.

#6 CJohnC on 04.23.20 at 3:26 pm

Well played Greta

#7 Oakville sucks on 04.23.20 at 3:27 pm

Anybody checked their pay advice recently? EI, Federal Tax and CPP all up in the last month! For an average salary that works out to hundreds of dollars a month! I’m pissed!

#8 espressobob on 04.23.20 at 3:27 pm

Working in the foodservice industry it has always been in a state of flux long before covid. With over 30 years in this industry you learn to deal with adversity.

Watching my customers being slowly drawn and quartered is not a pretty sight. It will take time to asses the real damage.

Sarcasm helps, along with some strong bourbon.

#9 fishie on 04.23.20 at 3:28 pm

No one, anywhere, can predict what the world will look like when we emerge (if ever completely) the other side of this. It’s never happened before. We’ve never reacted like this before.

There is one absolute guarantee, the world will not look the same.

#10 lookingup on 04.23.20 at 3:30 pm

Garth, one question.

Reits, which are of course a collection of property holdings, are down around 30%.

Why don’t actual property prices reflect that? Or are the REITS a forbearer of bad news for real estate as REITS are a leading indicator?

#11 Oakville sucks on 04.23.20 at 3:31 pm

I should add income taxes went up hundreds of dollars a month for the average income earner in just one month! Check your pay advice tomorrow!

#12 Tater on 04.23.20 at 3:32 pm

#317 IHCTD9 on 04.23.20 at 2:37 pm
#292 Tater on 04.23.20 at 12:16 pm

Always funny to see people who are proud of saving more than they spend bemoan the federal deficit.
———

I always get a chuckle out of folks who think everyone needs to spend like gangbusters before a government can balance a budget.

One trick I employ for balancing a budget is to **stop spending so much damn money**, this always seems to help.
————————————————————-

A balanced budget means either more private debt or less private savings. Which do you prefer?

#13 calgary rip off on 04.23.20 at 3:36 pm

Thank you for your research.

Just last week my wife wanted to have a windows guy come over to assess costs for window redo. The 2 front windows leak when it rains, hardly ever, in Calgary. This pretty guy that was recommended came over and wasted 3 hours to outline specifics in what couldve been done in 45-60 minutes. $20k to do the windows. Then the next day after a claustrophobic walk(too many people out walking) wife decided to ask why dont I just caulk the windows that are leaking. Her point is correct: Likely housing will plummet soon. Given that the $420k shack is in reality worth $180k if that in a correct world likely a $20k investment wont be absorbed soon if ever. Im not sure if Im going to caulk the windows or have the pretty Ukrainian guy and his crew do the repair. Either way I dont really care. Death is a reality, when, not if. And I cant take my “equity” with me.

As a comparison, 100 years ago in Calgary was very different: Probably had some electricity, gas heating unlikely, and basic sewer system and maybe refrigeration. All these Im not sure of, life was likely much slower and basics were appreciated more. There was more risk and “vacations” didnt exist.

On this blog you have indicated that this Covid 19 virus is not statistically bad. Likely you are correct, however the real issue is how each person will react physically. People talk about “flattening the curve” which represents modern medicine thinking and is nonsensical if you are the N=1 who dies. As such there is much panic.

I work with a flight attendant from West Jet who is now laid off. Luckily she works x ray in the cardiac unit rather than having no money at all coming in. The managers I work for have “redeployed” her and other x ray techs they dont like to be front door greeters at the hospital, either starting next week or soon. There is some stress and anger over this. Personally Im happy doing anything. I dont care about titles as my job does not define me. I’m human, breathing, and have ethics. Having a posh title and fancy car is irrelevant. I worked housingkeeping at Tigh Na Mara for 2 years before I got my hospital job. I was happy then and Im happy now.

It is amazing the amount of stress people create on depression from industries related to vacations. Cruise ships? Sounds like more like a prison. Airline flights to exotic locales? Sounds both risky and a prison at 30,000 feet. Maybe as a bonus the vacationer can get fun diseases from these “vacations”. I dont support either of those industries as its a vanity industry. The people however I do feel for as the great thing about this planet is different ideas and opinions. I am enjoying the lack of airplane noise and nonsense however. If all those flights are gone forever ok with me.

I was reflecting this morning on my graduate days. I remember eating microwaved cornmeal with canola oil and garlic salt on top for many meals. I was very happy in those days. I am grateful that for now I can still go out to shop and buy cornmeal rather than having to plant it, tend it, and hope it doesnt die or rot so I can eat it. I am also grateful that water still flows through the pipes, I have electricity and gas heating, and toilets. Also missing currently is pandemonium and home breakins threatened by robbers similar to the “Walking Dead”.

Perhaps the adults walking around could be focused on all the miraculous technologies that are still working. I am grateful for these things and that I dont have to go out and hunt rabbits in my neighborhood and fight other locals for foods and necessities.

These are the things that matter, not vacations and cruises. Without technology most people wouldnt be surviving much past 50 years of age. Most are living on borrowed time. I am grateful to have time.

#14 Trojan House on 04.23.20 at 3:36 pm

I was speaking with someone this morning who, because of health issues, said that they are okay with a bad economy as long as they remained safe. I was thinking – be careful what you wish for.

Also, the company he worked for has decided against domestic travel for employees until next January and international travel until next March…at least. That means no flying, no trains and no buses so I’m not so sure if demand will be as pent up as we hope.

But at least he still has a job…for now.

#15 Tim Johnson on 04.23.20 at 3:38 pm

I have a feeling that demand for returning to normal will be dependent on a vaccine and a treatment for coronavirus. I understand from reading the news stories that mid 2021 is the earliest we can expect a vaccine and more likely late 2021. If there is no treatment for coronavirus, people are going to be careful and stay close to home, even if the economy re-opens. This means that a lot of demand will stay away from businesses for quite a while.
Real Estate, hotels, restaurants, tourism, spa, hair salons, gyms, taxis, retail shops, travel, cruises, vacations, massage therapists, physiotherapists, car dealers, car garages, banks, oil companies all will take a hit. This in turn will feedback on the affordability of housing which implies a severe drop for real estate prices, especially if this goes on until mid 2021

#16 Andrew on 04.23.20 at 3:38 pm

There is a new world upon us indeed.

#17 MAURI on 04.23.20 at 3:39 pm

first

#18 Andewski on 04.23.20 at 3:46 pm

Bloomberg article:

Canada’s energy industry is facing one of its toughest tests ever as companies scramble for credit against a turbulent backdrop of record-low crude prices.

Oil companies have already been renewing borrowing facilities in a bid to stay afloat, but renegotiations will begin in earnest in the weeks ahead as “borrowing-base redeterminations” get underway. That’s the twice-yearly ritual when companies meet with their bankers to renegotiate credit based on the size of their reserves, oil and gas prices, and other factors. More than half the big Canadian banks’ energy loans are to companies with junk credit ratings.

For drillers, the credit negotiations may determine how long many of them can survive amid an epic rout in oil prices that makes almost every barrel they produce unprofitable. Oil futures briefly turned negative earlier this week as a sharp drop in energy demand due to the coronavirus pandemic hits home.

The situation is more dire in Canada, where crude is typically more expensive to produce and companies have had to contend with a shortage of pipelines for years.

Banks brace
For Canadian banks, lending to energy producers is a riskier bet than ever. The last time borrowing-base redeterminations took on such heightened importance was in 2015 and 2016 as oil prices plunged from above $100 a barrel to around $30.

While crude pulled itself out of the abyss on Wednesday, June futures are still at less than $15. Some estimates suggest measures to combat Covid-19 are destroying as much as 30% of global oil demand — and the road back to a profitable price may a long one.

“In the last oil downturn we saw some borrowing bases reduced, but not at a significant enough level that would compromise an oil-and-gas company’s viability,” Michelle Dathorne, director of oil and gas ratings at S&P Global Ratings in Toronto, said in an interview. “But is 2020 different than 2015 to 2016? Absolutely. The scope and severity is certainly worse.”

Canada’s six largest lenders had about C$58.5 billion ($41.2 billion) in energy loans on their books at the end of January, representing an average 5% of their corporate loan portfolios or 2% of overall lending, according to company disclosures.

Lender

Energy loans in fiscal Q1

% of total loans

Royal Bank of Canada

C$7.7 billion

1.2%

Toronto-Dominion Bank

C$9.4 billion

1.3%

Bank of Nova Scotia

C$16.8 billion

2.7%

Bank of Montreal

C$12.9 billion

2.8%

Canadian Imperial Bank of Commerce

C$9.2 billion

2.3%

National Bank of Canada

C$2.5 billion

1.6%

The sharp drop in energy prices may weigh on the banks’ earnings. If 10% of energy loans go sour, it could generate a collective loss of C$6 billion from the sector and reduce earnings by 18%, according to Bloomberg Intelligence analyst Paul Gulberg.

“Canadian banks’ energy exposure risks are increasing, with oil in a freefall and Canadian oil producers fighting to survive, as cash burn accelerates and liquidity dwindles,” Gulberg and his colleague Fernando Valle said in an email.

Non-investment-grade loans make up about 53% of the banks’ energy portfolios. Royal Bank of Canada has the most at 77%, followed by Bank of Montreal at about 58%, according to a Bloomberg Intelligence report.

Still, Canadian banks have been willing to keep the credit flowing in previous downturns.

“I’ve always said that energy, and oil and gas in Canada, is our family business,” Canadian Imperial Bank of Commerce Chief Executive Officer Victor Dodig said in an interview earlier this month. “We’re lending to our oil-and-gas clients and working with them through this patch.”

Bonds dive
Investors are getting anxious though. About 70% of Canadian energy companies in the Bloomberg Barclays Global High Yield Index are now trading in distressed territory. That compares with about 10% in early March, according to data compiled by Bloomberg. A bond is usually defined as distressed when its yield is 1,000 basis points, or 10 percentage points, over the government benchmark.

Investors in some high-yield issues have lost money with breathtaking speed. Oil-sands producer Athabasca Oil Corp. and oil fields producer Ensign Drilling Inc are the most distressed names in the patch, Bloomberg data show. In the investment grade universe, Husky Energy Inc. and Canadian Natural Resources Ltd. are the companies with the widest spread versus the Canadian BBB curve.

S&P Global’s Dathorne has reduced credit ratings for 14 oil and gas producers in the month through April 17 and downgraded the outlooks for four others. Canadian companies that rely on international banks for financing may face tougher negotiations, she said.

“We have no reason to believe that Canadian banks will make any wholesale exit out of Canadian energy, and we assume that support was there in 2015 and 2016 will remain in place,” she said. “But that doesn’t mean that support is going to replace non-Canadian banks if they choose to exit any kind of lending arrangements.”

Next time use a link. – Garth

#19 bob on 04.23.20 at 3:46 pm

Don’t worry Garth,
Mr Trudeau will bail out homeowners too.

Instead of ‘just watch me’, it will be ‘Watch Justin’

#20 LP on 04.23.20 at 3:48 pm

Room cleaners and preppers in hotels and motels should be thought of as the royalty they really are. If the room is filthy or poorly supplied, I’m not going back – ever. A clean room, properly refreshed with coffee/tea, crockery, linens are a minimum before we talk about the friendly desk clerk or doorman at the entrance.

“Lowly” they are not (and they should be tipped appropriately too).

#21 Leftover on 04.23.20 at 3:53 pm

If we want a free society and, by extension, a free market that supports it, then we have to accept some hardship.

That hardship could (should) include a diminished oil and gas sector, less mass travel, a real estate reset and a hit to corporate balance sheets, including banks.

The Americans particularly missed the opportunity during the GFC when they bailed out some companies that didn’t deserve it, and kicked the can down the road.

I hope we don’t do the same thing now in sectors that might not have a future.

#22 Zed on 04.23.20 at 3:54 pm

For the last 2 years i’ve had cash in my bank savings’ account to buy my next house cash. I rented in the mean time.

I was was getting upset at seeing my cash going nowhere while the stock market kept going up, so RE.

I feel very good looking at RE at this point with cash in the bank, i hope that i can negotiate well.

#23 Financial Orchid on 04.23.20 at 3:57 pm

First!

#24 marnic on 04.23.20 at 3:59 pm

Hi Garth. You paint a pretty convincing picture for deflation, yet you say the markets (if they can truly be called that anymore) are indicating a bounce back. I agree it could certainly go either way; with all that magicked-up money sloshing around, with maybe a whole lot more to come, one could quite reasonably expect an inflationary, if not hyper-inflationary reaction. Equally feasible though is deflation, for all the reasons you mention, and the added variable that nobody can tell when any of this will end, even if lockdown rules are relaxed. The latter scenario paints a grim outlook for equities, and cash will be king for perhaps month/years. This is far and away the outcome governments fear most, as their outsized debts engulf them, and they no way to fill their coffers to service them.

#25 NotLegalAdvice on 04.23.20 at 3:59 pm

So let me get this straight. What you’re saying is…owning a property out in the burbs, surrounded by conservation land / protected by the green belt is the smartest decision I could make?! And house values will move north because of all the zoning restrictions?

I knew it!

#26 Editrix on 04.23.20 at 4:03 pm

Garth, are you saying that I should get out of REITs? What you said above makes me think so, especially the ones that are heavily invested in office towers.

Why sell a distressed asset with a good cash flow? – Garth

#27 Dolce Vita on 04.23.20 at 4:05 pm

Further to what Garth was saying yesterday that if Costco can open up for business what not other businesses?

I tend to AGREE but with precautions which I am sure Garth would have said had he had the extra “ink” (recall 800 word limit).

I mean looking at CTV’s very excellent web site “Tracking every case of COVID-19 in Canada” (only wish their Nat’l News team were this good):

https://www.ctvnews.ca/mobile/health/coronavirus/tracking-every-case-of-covid-19-in-canada-1.4852102

that by just eyeballing it, you know there are Provinces, Territories are at or close to an R0 of 1 AND should be planning to open their economies soon.

Go to the chart immediately below the map of Canada, select a Province or Territory, ensure Total and Raw buttons are selected and toggle between New and 7-day avg buttons.

It should be obvious which Provinces, Territories should be planning to OPEN UP THEIR ECONOMIES I’d say within a couple of weeks. Italia waited about 2 weeks when it knew its R=1 to start reopening, RE: their Phase I where I estimated about 15% of GDP liberated.

To explain why believe the above I’d have to get into near 2 months of daily observations and such for Italia and R0 etc.

Next Comment factory protocols in use now, some in Italian yes, and how its going…for those of you that have businesses in case no clear direction for local or whatever Gov’s AND a handy translator (not me, retired).

#28 The WOMBAT on 04.23.20 at 4:06 pm

Hi All. Thanks Garth.
What happens with an indexed Defined Benefit pension plan during deflation?
I have been told that taking the commuted value is not an option, what are the chances of a change to that rule in 12 months? Will the value be higher due to lower interest rates? It is now 5% lower than it was on Mar. 1, 2020, and prime is lower!
It bugs me when I hear someone say ” we’re all in the same boat”. We’re not. We’re all on the same lake in our own boats. You are responsible for propelling it, the size of it and what shape it is in.

#29 YYZ_pilot on 04.23.20 at 4:06 pm

Hey Tom, fellow Westjet Pilot here. We will all get through this turbulent time (no pun intended) time, my significant other is also an FA. So we are also going through the same thing as you. Here is to clear skies ahead, cheers.

Garth, thank you for all that you do. Your level headedness and rationality in a time of chaos, fear and flat out stupidity.

#30 Coho on 04.23.20 at 4:08 pm

Deflation equals harvest time for the obscenely rich. Maybe there will be crumbs for the little people to nibble on.

People be careful how you react should you ever be in a situation where somebody falls down in your path. Social distancing dictates that you should give a wide birth and continue on. Or jump over him her as long as you can clear by 6 feet. Stooping down to lend a hand may invite shaming and finger wagging. Or you can pray but do it mentally or be ridiculed for believing in a God.

We are taught to believe that although we may be different on the outside, we are all the same on the inside. Well, the truth is the exact opposite. There are many empty shells roaming this planet, akin to the lights being on but nobody home. And there are good and decent people. There are also those whose behaviour is demonic. In my opinion, those without spiritual grounding, whatever form it is, will have a much harder time dealing with things. These ones tend to be the most fearful and easily stampeded over a cliff.

#31 TheSpangler on 04.23.20 at 4:13 pm

#10 Oakville sucks on 04.23.20 at 3:31 pm
I should add income taxes went up hundreds of dollars a month for the average income earner in just one month! Check your pay advice tomorrow!
—————————————————————-

No they have not. This is a question you should ask your payroll department as to why the change.

You are more than likely right for 2021 though.

#32 NFN_NLN on 04.23.20 at 4:15 pm

DELETED

#33 An old wrinkey boomer on 04.23.20 at 4:17 pm

Garth, your post reminds me of the days in Calgary during the mid-eighties. Saudi dropped the price of a barrel of oil, combined with the National Energy Program. People selling their home to a Shell company for $1,
Then headed back East from whence they came…

#34 NFN_NLN on 04.23.20 at 4:18 pm

#214 Sold Out on 04.22.20 at 10:17 pm
#184 n1tro on 04.22.20 at 8:40 pm
#101 Sold Out on 04.22.20 at 5:07 pm
For the “Trump pill” pushers…

https://apnews.com/a5077c7227b8eb8b0dc23423c0bbe2b2

Told ya so.
———
I guess Trudeau and crew are Trump pill pushers too right?

https://nationalpost.com/news/politics/canada-quietly-secured-order-for-5-millions-pills-of-anti-malaria-medication-eyed-as-potential-covid-19-treatment

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

Read your own link, sport, the 14 pt font right under the headline.The HCQ was secured to continue treating auto-immune diseases – aka: the diseases that actually respond to it.

///////////////

Look at the date:

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC1232869/

Conclusion
Chloroquine, a relatively safe, effective and cheap drug used for treating many human diseases including malaria, amoebiosis and human immunodeficiency virus is effective in inhibiting the infection and spread of SARS CoV in cell culture. The fact that the drug has significant inhibitory antiviral effect when the susceptible cells were treated either prior to or after infection suggests a possible prophylactic and therapeutic use.

#35 Goober on 04.23.20 at 4:20 pm

Don’t mean to light a fuse here, but I couldn’t help but think of how this story might get under the skin of some blog dogs here, as it did me. I thought it offered an interesting perspective on the whole austerity vs. compassion debate here in Manitoba. I wasn’t planning on posting the story, but after reading the very last paragraph of the story, I really thought some (like crowdedelavatorfartz) might get a real kick from the special message our local public service union leader had to offer.
https://www.winnipegfreepress.com/special/coronavirus/provincial-cabinet-memo-suggests-layoff-threat-hanging-over-civil-service-reduction-directive-569872222.html

#36 Dolce Vita on 04.23.20 at 4:21 pm

Posting this in case your local economy opened up and no specific C19 protocols for work esp. at factories provided to you.

In Italian but a protocol agreed to by Trade Unions, Businesses interpreting Gov Italia decrees to open up the economy (April 14). Yes, in Italian, buck up and hire some poor University Italian language student or out of work Prof.

Go to this page, scroll down to the bottom and click on “Fac_simile_protocollo_aziendale _-_ 17.03.2020.docx” and “Circolare_Confindustria_15_marzo_2020.pdf”…yes, yes from March but being used:

https://www.confindustria.vicenza.it/notizie-ed-eventi/notizie/coronaviurs-controlli-spisal-applicazione-dei-protocolli-aziendali-anti-contagio-VI30589

Also, a more practical “Bergamo” protocol. Search for it, I lost the link. My bad. Learn to search.

——————————

How it working out, practical experience speaking, some short articles about this from 2 factories, one near where I live in Pordenone and Udine…

Electrolux Appliance Factory, 5500 or so workers, Pordenone:

https://www.ilgazzettino.it/nordest/pordenone/electrolux_lavoro_sicurezza-5178058.html

Fantoni di Osoppo, Office Furniture Factory, 650 workers, Udine:

https://www.ilgazzettino.it/nordest/udine/coronavirus_fase_2_fabbriche_mensa_fantoni-5184126.html

——————————

I say STAR OPENING UP some Provinces, Territories in the NEXT 2 WEEKS and if no Gov C19 protocols look at Italia and Germany (though, the Germans are just beginning and themselves wondering how Italia is going – still, the Germans have had their proverbial C19 dung together…so look at them too).

#37 BobC on 04.23.20 at 4:22 pm

But isn’t it worth the destruction of jobs, businesses, loss of homes and draining of retirement funds?

So far 2,141 deaths attributable to the virus is the worst thing ever!

https://www.worldometers.info/coronavirus/?_hsenc=p2anqtz–rzxdvpxgmsh2ok-1gnu8bhpwc7j_qftzpsrvwaqqphnrxqyllzvbz-cg04ogicupv9wb0pw6m8xj09ixp0os-m2eepfhxzxugxc-ojvbofnnxdpi&_hsmi=84525637

Oh, except for the 13,894 household accidental deaths in Canada.

https://www150.statcan.gc.ca/n1/daily-quotidien/190530/dq190530c-eng.htm

Be sure to wear your drama masks.

#38 Drinking on 04.23.20 at 4:23 pm

Some interesting comments yesterday regarding the question as to if anyone knew people who have come down with Covid! I have asked all my colleagues, friends, also have a large portion of my family who resides in France and Spain, many elderly, for me, not one person I know or friends know has come down with this virus. That is fantastic and for those who have lost one’s to this terrible virus, my condolences! But the numbers are just not there! Something really stinks about all this!!

#39 morrey on 04.23.20 at 4:25 pm

#12 calgary rip off
2 front windows leak when it rains. $20k to do the windows.
so 10k per window, Who is BSing who?
We had 7 windows repaned with triple glasing for $4500 last year.

#40 Marco on 04.23.20 at 4:27 pm

Juge difference in death rate from Chinese virus from east and west Europe, even between east and west Germany. Health systems built in socialism (you could not rave around, freedom or death, you paid taxes ). Developed west, holocaust for sick people but you have your “freedom”. Goodbye, says China, get in a line and bend over….

#41 Uncle Al Sinclair on 04.23.20 at 4:31 pm

#325 IHCTD9 on 04.23.20 at 3:51 pm

——-

I think you’re having trouble understanding the question.

Is every house in Toronto sold to a flipper? Nope, most just want to live in the thing right?

If you agree, then what drives Toronto prices to such high levels?
———————————————————

Al contraire mon ami, I understand the question well, it is thou that doesn’t understand the answer. What don’t you understand about the fact that what drives Toronto prices to such levels is low supply and high demand. I thought you said you understood supply and demand? Whether you agree with the demand factors is irrelevant and matter diddly squat, to repeat myself. It is there. Period. So until the demand goes away and every Torontonian comes and lives in your neck of the woods or supply suddenly explodes then you will continue to see high priced housing in Toronto. Now how about sending some of those freshed baked pies my way?:)

#42 Howard on 04.23.20 at 4:32 pm

Garth presenting the Harry Dent thesis today!

Deflation would be manna from heaven for savers after a brutal 10 (nay, 30) years.

With negative interest rates? – Garth

#43 GrumpyPanda on 04.23.20 at 4:34 pm

Notice the realtors ad promising if they couldn’t sell your home they would buy it have disappeared?

#44 Goober on 04.23.20 at 4:36 pm

I just got an email from an uncle of mine who moved to California well over a decade ago. We’ve been having a spirited debate on the whole “cost/benefit” issue over the past month. This CNN story certainly puts a higher order spin on the whole problem facing the US (and ultimately us Canucks). As he said to me today,
“RE culling the herd…
I personally think it immoral to die for the benefit of the American “Military Industrial Complex”. People say that many would be willing to die to open up the economy; First, they need to ask for volunteers and see how many line up for the gas chambers.”
https://www.cnn.com/2020/04/23/us/reopening-country-coronavirus-utilitarianism/index.html

#45 Captain Kirk on 04.23.20 at 4:37 pm

#1 TurnerNation on 04.23.20 at 3:14 pm
*
“This might be the most important post I’ve made yet..”
———————————————————–

Sorry I stopped reading after your first sentence. Take off the tinfoil hat, stop watching utube, get back on your meds and everything will be just fine…

#46 Yukon Elvis on 04.23.20 at 4:38 pm

#3 Dolce Vita on 04.23.20 at 3:25 pm
In a historic time of crisis, you continue to be EXCELLENT Garth, just excellent.

Be it summarizing fast moving events, their analysis and summary with recommendations…you NEVER disappoint.
……………………………

Neither do you. Brown noser. You sound like a pre teenage girl at a Justin Bieber fan club meeting.

#47 Hobo Harry on 04.23.20 at 4:39 pm

#6 Oakville sucks on 04.23.20 at 3:27 pm

“Anybody checked their pay advice recently? EI, Federal Tax and CPP all up in the last month! For an average salary that works out to hundreds of dollars a month! I’m pissed!”
————————————————————

What pay advice? When you’re a hobo you are free from all those matters. To boot, I am squatting on Stan Brook’s funny farm and he doesn’t even know it…

#48 belly rubs on 04.23.20 at 4:43 pm

fyi Here’s the Form 6K for the SEC on Germany’s Biontech/Pfizer test vaccine. Interesting Vancouver connection. For full immersion, read up on mRNA viruses over at wikipedia first…
https://sec.report/Document/0001564590-20-017808/

#49 The Historian on 04.23.20 at 4:43 pm

#8 fishie on 04.23.20 at 3:28 pm

“No one, anywhere, can predict what the world will look like when we emerge (if ever completely) the other side of this. It’s never happened before. We’ve never reacted like this before.”
——————————————————–

Hey Fishie, read your history books. The Spanish Flu killed an estimated 100 million souls. It capped off WWI which killed 40 million. Still think it’s never happened before? How about its happened before on a grander scale..

#50 Keyboard Smasher on 04.23.20 at 4:45 pm

Re: Climate Change

Does anyone even remember climate change? Lmao, it was the most fashionable thing just a few weeks ago. And now, all of a sudden, the decadent crust of the Western world can’t afford a mortgage payment and climate change is officially cancelled…

Proves that this was merely an exercise in vanity.

#51 Pierre Berton on 04.23.20 at 4:46 pm

#12 calgary rip off on 04.23.20 at 3:36 pm

“Just last week my wife wanted to have a windows guy come over…(followed by a 2000 word essay…)
——————————————————

Thanks for the autobiography cowboy. Is your book on Amazon yet?:)

#52 Dolce Vita on 04.23.20 at 4:46 pm

#37 Drinking “but the numbers are just not there! Something really stinks about all this!!”

You will never know the numbers because there were lockdowns across the entire Planet is why.

The R0 of C19 is at least 2 to 3X that of the flu thus a lot more contagious, kills by bilateral interstitial pneumonia, has no vaccine like the flu and your “personal statistical poll” ought to have a MINIMUM sample size of:

35

Otherwise, your observation is irrelevant, statistically insignificant.

#53 Pierre Berton on 04.23.20 at 4:49 pm

#22 Financial Orchid on 04.23.20 at 3:57 pm

“First!”
——————————————–

Don’t you look like the village idiot now…:)

#54 TurnerNation on 04.23.20 at 4:49 pm

They want you off the land. The Crown owns it.
This is about maximum mind effect. They want us locked down till at least 2021 when all the financial and technological systems will be in place for our total control imo.

“” Wednesday, April 22nd 2020, 7:26 pm – Toronto Mayor John Tory has officially announced the closure of High Park during the cherry blossom bloom this season. He says virtual walkthroughs will be set up across multiple platforms.””

#55 Keyboard Smasher on 04.23.20 at 4:49 pm

@TurnerNation

What is the medical name for your condition?

#56 IHCTD9 on 04.23.20 at 4:50 pm

#324 James on 04.23.20 at 3:14 pm

Further to that it is by race as well on how well you are doing. If your white educated then your typically doing well. If not in that demographic then its a long uphill battle.
—- –

100%. No, 110%. I have my own theory on what might be a primary driver of Toronto RE, and you’ve touched on it a bit.

It also ties in nicely with why so many immigrants leave Canada, even after living here 1-2 decades.

#57 Another Deckchair on 04.23.20 at 4:53 pm

@19 LP:

“Room cleaners and preppers in hotels and motels should be thought of as the royalty they really are… “Lowly” they are not (and they should be tipped appropriately too).”

For the bit that I travel, I always leave a few bucks in the room with a hand-written “thank you” note.

Agreed.

Sometimes, when I’m staying somewhere for a while, I’ll get a note back; once in a while a very nice note!

Once, when we were in a hotel for maybe 2 weeks as work on our house was happening, a woman came over to us, very nervous, and thanked us in her very halting English.

I have seen, though, supervisors going into rooms with a checklist BEFORE the cleaners arrived, and I did wonder if the tip disappeared before the cleaner got there. :-|

#58 crowdedelevatorfartz on 04.23.20 at 4:55 pm

@#32 Old wrinkly boomer
“Then headed back East from whence they came…”
+++

Was that after King Ralph said, “Go back East all you creeps and bums…!”

#59 Guy in Calgary on 04.23.20 at 4:58 pm

One of those times where I truly do not know what to believe.

#60 Do we have all the facts on 04.23.20 at 4:59 pm

Clearly the Covid 19 virus has spread across Canada

To date approximately 575,000 Canadians have been tested for the virus and 39,000 have tested positive.

The current goal is to initiate an additional 60,000 tests per day across the country.

My question is what percentage of the 39,000 Canadians that tested positive over the past six or seven weeks had a pre-existing health condition that might have compromised their immune system.

What percentage of the 2,000 + deaths being attributed to the Covid 19 virus involved an individual with a pre-existing health concern.

A population of 38,000,000 people will experience an average of 790 deaths per day or an average of 24,000 deaths per month.

A significant portion of all deaths will involve individuals with pre-existing conditions that compromised their natural immune systems. A tough reality but true.

Given that the Canadian economy is being crippled to combat the Covid 19 virus it might be useful examine the total number of deaths that have occurred in Canada over the past six or seven weeks and the percentage of total deaths that involved individuals with pre-existing health concerns.

We may or may not discover that the Covid 19 was present at the time of death but did not actually cause a significant increase in the anticipated mortality rate based on historical data.

I am not suggesting that this might be the case only that an evaluation of whether Covid 19 is actually causing a significant increase in mortality rates across our country might assist our government in their risk assessment exercises.

#61 Drinking on 04.23.20 at 4:59 pm

#12 calgary rip off

What?? That is crazy! Last year I had 7 patio doors; and 13 windows installed; triple glass; tinted; for around 30k; small apartment building. Look elsewhere, yes, I live in Calgary.

#62 Sold Out on 04.23.20 at 5:01 pm

#33 NFN_NLN on 04.23.20 at 4:18 pm

Look at the date:

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC1232869/

Conclusion
Chloroquine, a relatively safe, effective and cheap drug used for treating many human diseases including malaria, amoebiosis and human immunodeficiency virus is effective in inhibiting the infection and spread of SARS CoV in cell culture. The fact that the drug has significant inhibitory antiviral effect when the susceptible cells were treated either prior to or after infection suggests a possible prophylactic and therapeutic use.

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

So, chloroquine showed some promise in ‘in vitro” studies on SARS-Cov-1 back in 2005. It was not found to be useful in “in vivo”, just like many other promising drugs that don’t pan out.

Who’s spent the last 4 weeks pumping an unproven, potentially dangerous drug? Epidemiologists? Infectious disease specialists?

No. Only Trump and his flying monkeys.

Why? Because he dropped the ball early in the pandemic response, and needs a Hail Mary pass.

There is no evidence that any of the drugs currently being tested are going to be a magic bullet. Making people think that it’s safe to open the economy up because there are viable treatments for Covid-19 is dishonest and dangerous.

#63 rookie57 on 04.23.20 at 5:02 pm

If everyone is putting their hopes on a vaccine, then we could be in trouble. Vaccines for any coronavirus are essentially non-existent. This time may be different but the probability of a safe and effective one is extremely low. It is good to try but…..be pragmatic about the likelihood being zero. If the gov’t is holding out for a vaccine and keeps the economy shut down then be ready to batten down the hatches. It could get ugly. I am optimistic that it won’t happen but plan for worst and hope for the best.

#64 islander on 04.23.20 at 5:05 pm

https://www.theglobeandmail.com/real-estate/vancouver/article-bc-landlords-look-for-a-pandemic-solution-with-may-rent-looming/

Vancouver’s mayor, Kennedy Stewart, said “the homeowners who don’t think they’ll pay their July property tax bill are keeping him up at night. He said he worries that there will be a massive shortfall, and he’s calling for provincial and federal help.
A random survey of 278 homeowners said that 65 per cent planned to pay their July entire property tax bill, while 30 per cent said they’d pay most of it.”
Recent poll “results are based on the 278 homeowners, as well as 301 renters and 421 employed residents.
Just over half of homeowners said they expect to pay their May mortgage payment.
Three in five renters expect to pay their rent.
The low numbers shocked everyone.”

Maybe not ‘everyone’.

#65 Drinking on 04.23.20 at 5:06 pm

#51 Dolce Vita

Could very well be Dolce Vita; but I do find it strange (with myself a large presence of a European family) and a large network of friends and family here in Canada that none of us know anyone that has caught that terrible virus. Let us hope that it continues that way but at some point we do need to ask some serious questions regarding all this. Stay safe over there!

#66 The real Kip (Ret) on 04.23.20 at 5:08 pm

And on the plus side, apparently the world’s billionaires are doing fine. That’s a relief!

#67 Penny Henny on 04.23.20 at 5:10 pm

12 calgary rip off on 04.23.20 at 3:36 pm
Thank you for your research.

Just last week my wife wanted to have a windows guy come over to assess costs for window redo. The 2 front windows leak when it rains, hardly ever, in Calgary. This pretty guy that was recommended came over and wasted 3 hours to outline specifics in what couldve been done in 45-60 minutes. $20k to do the windows.
////////////////

$20k for windows???

Are you mad?? 20k for two windows??
You are being had, I just did all my windows, big windows, very nice windows for $10.5k.

Do I need to remind that this is not a window blog? Don’t be a pane. – Garth

#68 Dolce Vita on 04.23.20 at 5:10 pm

Off topic a bit but someone here Commented about what will the World look like?

Well, 2 microcosm answers follow.

Beach culture Italia has transcended from plexiglass beach enclosures to your own personal habitat near the water – by Corriere della Sera, they will block the Chrome web page with a pay to view pop-up, to get around that open the page in Chrome Incognito mode (that works for me here in Italia, if not from Canada again, then try a VPN for somewhere in Italia).

Frame 2/11 ought to make Alberta and other “Prairie People” et. al. happy, 8/11 from Canada (stylish) and 10/11 for YVR and 416 laneway home lovers (looks like they can’t count, there is no 11/11, well other than more clickbait on that page):

https://corriereinnovazione.corriere.it/cards/vacanza-si-andra-2020-potrebbe-essere-l-estate-caravan-tiny-house/i-nuovi-vagabondi.shtml

——————————–

The other one, for former PERSON OF INTEREST lovers, by Righty enfant terrible PJW (I liked it that Moms+Pram got the <2m pass, not sure if it's true but pretty good neat video, sad as it is if true):

https://twitter.com/PrisonPlanet/status/1253110092926529537

——————————–

In the end, no one knows but for sure to what extent CIVIL LIBERTIES will be curtailed. How bad, I hope not like PERSON OF INTEREST bad. That would suck, totally.

#69 IHCTD9 on 04.23.20 at 5:12 pm

#11 Tater on 04.23.20 at 3:32 pm
#317 IHCTD9 on 04.23.20 at 2:37 pm
#292 Tater on 04.23.20 at 12:16 pm

Always funny to see people who are proud of saving more than they spend bemoan the federal deficit.
———

I always get a chuckle out of folks who think everyone needs to spend like gangbusters before a government can balance a budget.

One trick I employ for balancing a budget is to **stop spending so much damn money**, this always seems to help.
————————————————————-

A balanced budget means either more private debt or less private savings. Which do you prefer?

—- —

I’ll take less private savings, and as icing on the cake – less government spending too.

Trudeau is handing out cash to anyone who raises their hand, hence a 200 Billion dollar scar for Canada. My 17 year old feeds me CCB cash while also qualifying for the CERB at the same time. Does that make any sense to you?

A little responsibility from these Lunatics in Ottawa would be welcome.

#70 Calgary on 04.23.20 at 5:15 pm

Trump filled up US oil storage to the brim. His action killed US shale oil companies. Last option for him is to declare war on Iran to prop up oil price. Iran, in turn, will decimate Saudi Arabia.

#71 the Jaguar on 04.23.20 at 5:16 pm

@ #291 Stubble Jumper on 04.23.20 at 11:32 am – “Yah got something against the good folks of Saskatchewan cowboy?”.
Not exactly. Most who chose to leave Saskatchewan ( strong out migration statistics are a matter of public record) and settle in Alberta are very hard working people who have made a strong contribution to Alberta. We owe them a debt of gratitude. But still….. there is something…. call it a lack of certain social graces…… Better yet, just watch the movie Blade Runner. Think of people from Saskatchewan, especially anywhere near Maple Creek, as ‘replicants’.
“A replicant can only be detected by means of the fictional Voight-Kampff test, in which emotional responses are provoked and a replicant’s nonverbal responses differ from those of a human.” Enough said.

#72 Pete from St. Cesaire on 04.23.20 at 5:17 pm

Things will never go back to anywhere near normal as long as the stupid 6-foot rule is maintained. People are social creatures; take that away from them and they won’t have much interest in doing anything or going anywhere. Another thing people need to be pointing out is that every year millions of people go to tropical countries for vacation and never think twice about the high rates of malaria, TB, and various other illnesses so prevalent in those countries. Half a million of people die every year from malaria yet tourists are rarely concerned. They are only freaking out now because the media is pushing fear in such a way as can only be called criminal.

#73 Dolce Vita on 04.23.20 at 5:20 pm

#64 Drinking

So far so good. I mean Canada has not really been hit hard. Here, well you know the story.

There are towns in Italia having read articles over the past month and a half where no one was left untouched, whether a neighbor, friend, relatives or else. Not just Bergamo, largely in the Region of Lombardia, in part Veneto and Piemonte…some very sad stories.

As for France, in the North they now have 2 Regions with an R0 > 5, meaning every case they find, 5 others will have been infected. You can imagine if you have travelled there what that means to all the beautiful towns and villages they have there.

Unthinkable really. You, your relatives and me have been lucky. As I said some the stories I have read on the ever so on top of everything Italian MSM were heartbreaking what happened to some of these towns.

But hey, chin up, Canada is doing well, Italia today has an R0 of 0.3 to 0.5 which means ITS OVER save deaths to come from those infected when Ro > 1 (still in the “system”) and I think Provinces are going to open up in the next 2 weeks.

So reason to be happy Drinking and optimistic, both sides of the “pond” well, save the poor Americans, what a mess there.

#74 Sail away on 04.23.20 at 5:20 pm

Hey Sold Out:

Did you see Trump has modified his response and is now suggesting caution on hydroxychloroquine?

Smart realists modify their response as new facts emerge.

Certain other types just keep jumping up and down on the same dead horse. Know anyone like that?

#75 BrianT on 04.23.20 at 5:24 pm

#72Dolce-it is basically NYC and the surrounding region-the vast majority of the area of the USA has little infection.

#76 Sail away on 04.23.20 at 5:25 pm

#66 Penny Henny on 04.23.20 at 5:10 pm

$20k for windows???

—————

Do I need to remind that this is not a window blog? Don’t be a pane. – Garth

—————

Hmmm… let me reflect on that. hopefully my thoughts will become more transparent.

#77 Lost...but not leased on 04.23.20 at 5:32 pm

Not sure why people are in DENIAL:

The domestic and global events make it pretty clear that Gov’ts are hellbent on killing the economy.

At least in the good olde days..like Great Depression and WW 1 and WW2…were more transparent.

Here in BC…with our usual doublespeak….the UNelected Health Officer effectively cancelled the annual PNE…which doesn’t start for approx. 4 months….yet cruise ships are stopped till July. Huh ?

#78 Dolce Vita on 04.23.20 at 5:37 pm

#45 Yukon Elvis

FFS, you read like a jealous Debutante bellowing from her Cotillion, alone and with no date. Grow up.

I read Cdn. business MSM articles a lot every day and no one comes close to this Blog.

If that someone insults your Jane Austen, Sense and Sensibility ways, well, no apology to you.

Now, resume mushing or whatever it is you do up there.

#79 BrianT on 04.23.20 at 5:39 pm

#59Do We-it is worse than you think-for about the last 2 months the entire sickcare system has been running at half speed at best for anybody suffering from anything that isn’t related to this virus. If the overall mortality rate actually decreased while to a large extent shutting down the sickcare system I don’t think TPTB want the sheep to know that info.

#80 Drinking on 04.23.20 at 5:40 pm

#72 Dolce Vita

Well, my thoughts are with all of you in Europe and us in North America.
As Garth mentioned our economy is a mess. I am not allowed to speak further on windows; ha, but, including the Americans it will take years of sacrifice to get through all this. What a shame or maybe?????

#81 Reality is stark on 04.23.20 at 5:41 pm

I might as well say this again since I know most Canadians aren’t capable of digesting the obvious.
A bungalow in Toronto is worth 5 times family income (approximately $60,000 today).
A bungalow in Chicago is worth about $275,000.
The Toronto price needs to correct about $500,000 to come back to a realistic value.
If you paid $1,000,000 for your Toronto home you will have a tough time convincing the bank to give you a Heloc for a home Reno or to finance a car or your kid’s university. Your biggest challenge will be to try to avoid divorce court. Your odds are not good.
Had you spent a little time in the automotive industry in the last thirty years you would have received some good training for today’s environment.
1) You are personally responsible for shutting down GM and they want to fine us $50,000.00 per day.
2) When business is good we expect you to work 16 hour days seven days a week. When business is bad you can go to hell.
3) Check your ego at the door and keep your mouth shut.
4) You can be fired at any time, consider yourself fortunate if you don’t die on the job.
At this point you’ve figured out that globalization is deflationary.

#82 the Jaguar on 04.23.20 at 5:41 pm

On May 8th, 2019, Non Plused posted a singularly outstanding post. Jaguar sometimes keeps the good ones in a little file… #83 Nonplused on 05.08.19 at 9:09 pm
It referenced the subject of a ‘debt jubilee’. Here is a portion of the post:
“How would we implement a debt jubilee in Canada? It does not need to be a one-off event. Instead, limit, for those provinces where it is not already the case, compensation for defaulted debt to the asset pledged against it. Can’t pay your mortgage? The bank gets your house and only your house. Can’t pay your student loan? The bank gets nothing because it is an unsecured loan. Implement a 10 year limit on the ability of the bank to garnish your wage for a student loan and limit the garnish to 20% of after tax income.
Borrowers in this country are extremely irresponsible. But the main problem we have is that lenders are even more irresponsible. Borrowers are like drug users, but lenders are like drug dealers. The borrowers obviously have a problem, but the lenders are facilitating a destructive trade for their own profit. Any lender that has financed a boat or a home lone or under questionable circumstances deserves to lose all of their money.”
——————————————————————————————————-
The first paragraph is especially interesting. If, as a result of this great and unimaginable calamity ( Covid), we really did go into a deflationary period, coupled with high unemployment, could the government(s) pass some kind of sweeping legislation in provinces where recourse to borrowers currently protects lenders? It’s a question, given the scale of the problem is worldwide and not limited to one sector or province, n’cest pas? Pay back for shortfalls incurred could be solved in the way they have been solved these past twelve years…central banks running a printing press in their basements.
The rate of unemployment in 2008 in Canada was 6.1%, rising to 8.3% in 2009 and not really recovering to similar levels until 2017 when it fell to 6.3%. That was one crisis, but this one is ‘off the charts’, as they say. What will happen if many business enterprises are permanently shuttered? Many jobs never come back for those with limited skills to adapt to the new reality? The devil finds work for idle hands. I am beginning to think I would like to board some ship similar to the one that left middle earth. Maybe it is leaving from Lunenburg and that is the story Garth keeps hinting he is going to tell us………..
“All of the ring bearers left Middle-earth; Gandalf, Galadriel, Elrond, Bilbo, Frodo, and even Sam after his children were grown and Rosie passed away.”

#83 Doug t on 04.23.20 at 5:42 pm

How much longer can we keep crushing the economy before the dreaded word DEPRESSION starts looking more real?

#84 BrianT on 04.23.20 at 5:49 pm

#49Keyboard-you were ridiculing Turner Nation without understanding that people like yourself who do not buy into the Climate Change nonsense are technically termed Conspiracy Theorists-which makes you one Conspiracy Theorist ridiculing another Conspiracy Theorist.

#85 WAKEUP on 04.23.20 at 5:51 pm

Author of the Bio Warfare Act Fransis Boyle says Covid is a Bio Weapon.
Worlds top Virologist and discoverer of HIV virus Luc Montagnier says Covid is a Bio Weapon.
Top Russian Virologist today said that the virus has been engineered.

What I’m getting at is if this is Bio engineered then besides the war against China scenario, this is is no longer to be considered flu2.0.
It means its designed to take you out in many different ways.

#86 DD on 04.23.20 at 5:55 pm

If tax revenue falls on income, consumption and commercial property, what’s left?

Capital gains/dividends? A given

Residential property tax rates? For sure

New wealth taxes (tax on tax?) Yikes

#87 crowdedelevatorfartz on 04.23.20 at 6:01 pm

@#34 Goober
“I really thought some (like crowdedelavatorfartz) might get a real kick from the special message our local public service union leader had to offer.”
+++

Hilarious.
A public sector worker is going to “help out” in the private sector as a “phone caller” or as an “usher” to hold open doors for people rather than be laid off?
Bwahahahahaha.

Didnt workers that took other peoples jobs like that used to be called “scabs”?

I dare say most public sector workers ( and their managers) could take a 30% staff reduction and the tax paying public…..wouldnt even notice.

#88 Bernie Sanders on 04.23.20 at 6:04 pm

#73 Sail away on 04.23.20 at 5:20 pm
Hey Sold Out:

“Did you see Trump has modified his response and is now suggesting caution on hydroxychloroquine?

Smart realists modify their response as new facts emerge.”

————————————————-
Or change their views when folks die from taking hydrocholorquine. Really smart Mr. Trump, really smart. Nothing like playing with people’s lives and then changing his mind…

#89 NFN_NLN on 04.23.20 at 6:04 pm

Senate Speech on re-opening the US economy:

https://www.youtube.com/watch?v=LKxrPZm8ZkE

#90 BS on 04.23.20 at 6:06 pm

In a deflationary world prices go down, not up. Incomes also decline, so things don’t get more affordable. Just the opposite. Debts remain and become harder to pay. This can be fatal with real estate, where the value of the property fades with demand, but the financing upon it remains as a legacy of the pre-pandemic world. Rents drop. Landlords earn less. Condos take a hit.

Sounds bullish for real estate.

#91 Stubble Jumper on 04.23.20 at 6:06 pm

#70 the Jaguar on 04.23.20 at 5:16 pm
.
“A replicant can only be detected by means of the fictional Voight-Kampff test, in which emotional responses are provoked and a replicant’s nonverbal responses differ from those of a human.” Enough said.”
—————————————————–

Well we are all on different levels of the evolutionary ladder…I still would enjoy a few beers with them!

#92 lifexprt on 04.23.20 at 6:07 pm

Started scaling into various short vehicles including Horizons’ inverse ETFs. Anyone else thinks its a great idea?

#93 NorthOf49 on 04.23.20 at 6:08 pm

#72 Dolce Vita on 04.23.20 at 5:20 pm

There are towns in Italia having read articles over the past month and a half where no one was left untouched, whether a neighbor, friend, relatives or else. Not just Bergamo, largely in the Region of Lombardia, in part Veneto and Piemonte…some very sad stories.

—————————————————–

You’re correct, we were quite surprised to hear two of my wife’s cousins, husband and wife both Italian, but live in Bellinzona in southern Switzerland, as many Italians do, both came down with Coronavirus. She is a pharmacist in Bellinzona and got infected almost immediately from a customer. The husband works across the border in Italy and got the virus soon after. As they are fit and in their forties, they are both recovering well and their kids don’t seem to have been infected. We were in their town last year to visit as we made our way from Lucerne to Lake Como over the alps, absolutely beautiful scenery and people.

#94 BigD on 04.23.20 at 6:08 pm

This is a study on the hot spot of the world, NY, and other studies from other areas corroborate this.

13.9% have/had it, so risk of death no worse than flu?

Why is everything still shut down?

https://www.cnbc.com/2020/04/23/new-york-antibody-study-estimates-13point9percent-of-residents-have-had-the-coronavirus-cuomo-says.html

#95 Sold Out on 04.23.20 at 6:12 pm

#73 Sail away on 04.23.20 at 5:20 pm
Hey Sold Out:

Did you see Trump has modified his response and is now suggesting caution on hydroxychloroquine?

Smart realists modify their response as new facts emerge.

Certain other types just keep jumping up and down on the same dead horse. Know anyone like that?

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

3 weeks ago you’d have cheerfully fed it to your staff, if you thought it would’ve made you money.

Your ‘smart realist’ will be thumping some other useless tub in a minute, or so. Short attention spans are like that.

#96 Penny Henny on 04.23.20 at 6:17 pm

I am SO sick of China (the chinese government).
No pork for them.

#97 R. Ester on 04.23.20 at 6:18 pm

Garth, I don’t see how if even a small percentage of the picture that you painted becomes structural, that stock markets hold up, never mind surge higher.

If unemployment stays at elevated levels and consumer confidence (vacations, gas, clothes, restaurants, etc…), real estate and commercial office space trend down – how does that translate to a higher stock market? I doubt whether Amazon, Netflix and Apple can pull all the other losers along.

#98 Lost...but not leased on 04.23.20 at 6:19 pm

Phartzy is Toast…

https://nypost.com/2020/04/20/can-the-coronavirus-be-spread-through-farts/

#99 broader mind on 04.23.20 at 6:23 pm

#50 Pierre Berton . Award worthy comment.

#100 C.I.K. on 04.23.20 at 6:29 pm

On January 20th 2020, Ray Dalio said that cash is trash.

It’s been a long time since I heard anyone says anything nice about CASH. All you people sitting on a mound, will soon have some opportunities.

#101 NFN_NLN on 04.23.20 at 6:36 pm

DELETED

#102 Idiocy on 04.23.20 at 6:36 pm

Canada’s total body count from the “virus” is less than some countries have had in 2 to 5 days.

Then , why all the strictures, closing down the economy and heavy subsidy spending – accompanied by vague reasoning and propaganda?

Trudeau / Liberals are using this crisis to increase governmental powers, buy votes and control people by fear.

Don’t believe its a naked power grab – I suggest you review the unlimited powers BYPASSING PARLIAMENT they proposed a month or two ago.

They showed their hand clearly.
Only the naive, obtuse or complicit can’t see this.

Your country is being usurped – watch the socialism assert itself.

#103 ts on 04.23.20 at 6:37 pm

#1 TurnerNation on 04.23.20 at 3:14 pm

You’re so right about calling this a war. They are now sending in the military to work in the long term care facilities. How crazy is that!!! What’s next?

#104 not 1st on 04.23.20 at 6:45 pm

Shutting down entire economies was just stupid. Sure some spending will resume but people will be totally broke and wont be too inclined to spend their little pittance on discretionary items. Consumer spending as a portion of GDP will likely fall.

Even Trump cant get the American giant restarted, talking about another month of lock down now. They are going to need another couple trillion at least to do that.

https://www.cnbc.com/2020/04/23/coronavirus-trump-may-extend-social-distancing-guidelines-to-early-summer.html

#105 macduff on 04.23.20 at 6:53 pm

One thing that few people are talking about is government revenue from income taxes. As Garth has stated, the highest income Canadians contribute the bulk of income tax in this country. If these individuals (small business owners, doctors, dentists, lawyers etc.) are not generating income the hit to the revenue will further exacerbate the government spending hole that is being created.

#106 PetertheSeparatistfromCalgary on 04.23.20 at 6:54 pm

Hope you tree huggers are enjoying these wonderful low carbon days. This is just a small taste of what your glorious energy transition will look like. To get to zero net emissions things will have to get much worse!

Personally I would much prefer a little warmer climate to this crap!

#107 Deplorable Dude on 04.23.20 at 6:55 pm

Speaking of flying…

Demonstration of how quiet major airports are.

This morning a little Cessna flew a loop around New York’s 3 major airports, and did a touch and go at each (landing and immediate takeoff)….just because they could.

Lol….living the dream…

https://twitter.com/trvrb/status/1253436656742305793?s=21

#108 Blair on 04.23.20 at 6:56 pm

I wonder what the effect of deflation might be on a balanced and diversified portfolio.

#109 will on 04.23.20 at 6:57 pm

no hotel reits or airlines or airplane manufacturers in my portfolio. but do you have any thoughts on the future of public transportation Garth? like city buses?

#110 Long-Time Lurker on 04.23.20 at 6:59 pm

Re: Yesterday’s comments.

Ranging from leper colonies to baking cookies: a typical day here.

#111 Risks on 04.23.20 at 7:00 pm

Thanks for the post Garth
So been reading this blog for years, I think I finally figured it out.
First stay invested
Next when you post like today you are making us aware of the risks, they may or may not happen but it is a risk.
You are keeping us informed.
This post scared the heck out of me as this is what I have been saying for months a compounding effect through the economy.
Okay not your tummy rub post but a realization that if you stay invested here are the risks.
If you don’t like the risks go to a balanced portfolio that reflects your attitude for risk.
For me I just invested 5,000 or 2 percent of my portfolio or about 1/3 of my cash today.
Cheers

#112 Long-Time Lurker on 04.23.20 at 7:00 pm

#35 Dolce Vita on 04.23.20 at 4:21 pm
Posting this in case your local economy opened up and no specific C19 protocols for work esp. at factories provided to you.

In Italian but a protocol agreed to by Trade Unions, Businesses interpreting Gov Italia decrees to open up the economy (April 14). Yes, in Italian, buck up and hire some poor University Italian language student or out of work Prof.

>If you have Google Chrome as a web-browser a Google Translate window will automatically pop up when you’re on an other than English website and if you click it then it will translate the webpage:

Coronaviurs: SPISAL checks on the application of corporate anti-contagion protocols
The list of the main conditions envisaged by the Protocol which will consequently be subject to verification
March 16, 2020

https://www.confindustria.vicenza.it/notizie-ed-eventi/notizie/coronaviurs-controlli-spisal-applicazione-dei-protocolli-aziendali-anti-contagio-VI30589

Electrolux, there is an agreement: we return to the factory from Monday morning. The maxi-plan for safety
NORTHEAST > PORDENONE
Saturday 18 April 2020 by Davide Lisetto

https://www.ilgazzettino.it/nordest/pordenone/electrolux_lavoro_sicurezza-5178058.html

Phase 2 in the factory: turnstiles-scanner for fever and canteen spaced out at Fantoni
NORTHEAST > UDINE
Tuesday, April 21, 2020 of RU

https://www.ilgazzettino.it/nordest/udine/coronavirus_fase_2_fabbriche_mensa_fantoni-5184126.html

#113 Deplorable Dude on 04.23.20 at 7:02 pm

Opps, wrong link,

https://twitter.com/flightradar24/status/1253393695522590725?s=21

#114 Ryan on 04.23.20 at 7:03 pm

House in Ottawa, listed for $625k sold in 1 week for $742k. So, housing in Ottawa is still increasing……

One house sold after being listed below-market. How do people keep falling for the same thing? – Garth

#115 And again ... the winner is ... on 04.23.20 at 7:04 pm

The retired boomer who sits at home in a paid off house with a yard and a balanced portfolio collecting a pension or two or three … and wondering what the fuss is all about.

#116 Figure it Out on 04.23.20 at 7:05 pm

“Why sell a distressed asset with a good cash flow?”

That’s some BaggyGold, right there.

#117 the Jaguar on 04.23.20 at 7:05 pm

@#90 Stubble Jumper on 04.23.20 at 6:06 pm
Absolutely. I would enjoy that as well. First round on me. All in good fun and meant in good humour. Stamps will always beat the Rough Riders, though.

#118 Nonplused on 04.23.20 at 7:07 pm

It’s hard to believe things will return to normal quickly with the news poring in.

https://www.dailymail.co.uk/news/article-8247971/Grounded-Stunning-footage-shows-400-passenger-jets-sitting-idle-California-desert.html

https://www.660citynews.com/2020/04/23/calgary-stampede-cancelled-amid-covid-19/

(Not even the floods of 2013 managed this)

https://www.660citynews.com/2020/04/23/41st-annual-calgary-folk-music-festival-cancelled/

(Probably nobody can afford to go anyway)

Every day it seems the news gets more surreal. I hope this doesn’t turn out to be a huge over-reaction. And the long term impact this has on psychology is difficult to determine. Will people ever return to flying if they don’t need to? Will they ever return to spending money they don’t have on non-essentials? And what if the kids decide they like home schooling better?

——————————

Deflation is an interesting subject but I don’t think it is a simple as people think. And there isn’t a precedent for it in today’s money system. In the 30’s, money was backed by gold so a change in the availability of gold compared to other products could by itself cause deflation, because that revalued all other items lower. That’s why they got rid of the link. They were building too many cars and refrigerators and gold production couldn’t keep up. But today the dollar is not attached to gold so gold could in theory go to $3000/ounce and not cause deflation. The big worry would be debt. Since debt is such a large part of our current financial system, widespread defaults would drastically reduce the perceived money supply and indeed cause widespread deflation. I think this is the real reason that this time around the government has resorted to sending money directly to people rather than just propping up the banks like they did in 2008. It is to stop a widespread cascading debt default. It isn’t the humanitarian effort they are making it out to be. The debt must be kept good even if it means a devaluation of the money and forbearance on interest. Better to get back the principle and less interest than lose everything.

Inflation is thought to be better than deflation because it keeps the debts and the assets that back them good. But a hyper-deflation would be no better for most people than a hyperinflation. In either case no matter what the price of things are you don’t have enough money to buy them.

We can look at housing for an example. I agree that housing is grossly over extended in Canada when compared to wages. But do we really want it to revert to 3-4 times average income at this point? So many people would be wiped out. It is hard to imagine how that couldn’t literally ruin the economy at this point. A soft landing here requires that house prices just stop going up until wages catch up. There will be no soft landing if it goes into a nose dive.

———————-

An update on my neighbor, who is trying to sell his house because he has already moved to Cayman and works in Houston. Well guess what? No viewings. And I think it reasonably priced. Plus he can’t go to his new place in Cayman or his job (and condo) in Houston because he is effectively stranded here. Now I imagine he has the financial resources to survive this but I don’t really know. What happens if he goes down? That’s 3 properties (although he had his place here for sale well before this hit, so it isn’t totally his fault).

#119 PSL on 04.23.20 at 7:08 pm

#319 Alan Greenspan, Former Chair of the Federal Reserve on 04.23.20 at 2:40 pm

Oh just the 95% deflation of the Great Depression for starters….
_________________________________________

that was the fault of the gold standard? There were massive credit expansions by the FED in 1924 and 1927 far beyond what the US had in Gold reserves. that’s not the fault of the Gold standard. Then in 1928 they tried to reign in the economy and failed. Commercial banks continued to loan out money for stock purchases well into late 1929. The Gold standard would have prevented a crash like 1929, by never allowing the bubble in the first place. Instead of letting the Gold standard do its’ job, the FED and politicians did their best to find ways around it.

#120 Figmund Sreud on 04.23.20 at 7:09 pm

Trump filled up US oil storage to the brim. – #69 Calgary on 04.23.20 at 5:15 pm
_________________________

Huh? U.S. working crude storage will take ~18 weeks (mid-August) to reach capacity at current rate of increase!

On April 17th., storage was only 65.7% full. Yes, …

Best,

F.S. – Calgary, AB.

#121 Not 1st on 04.23.20 at 7:09 pm

Speaking of oil, looks like the robinhood crowd got their fingers caught in a institutional short squeeze in the USO ETF. Oil drops 10% at the start of the shut down and they pour 2B into the fund, then it falls another 80% from there. Shorts saw the snowflakes crowding the trade and feasted.

My dear millennials, your economy runs on oil. I know that offends you and you just wish it could run on unicorns and fairies and Trudeaus beard, but that’s not reality and never will be.

#122 Lost...but not leased on 04.23.20 at 7:14 pm

#102 ts on 04.23.20 at 6:37 pm
#1 TurnerNation on 04.23.20 at 3:14 pm

You’re so right about calling this a war. They are now sending in the military to work in the long term care facilities. How crazy is that!!! What’s next?

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

Pretty obvious isn’t it ?

Gov’ts at all levels can no longer afford to pay for Police…Firefighters etc. etc.

This leaves only….drumm rollll…..Military, which will be slowly but surely be put in place on auspices of benevolency till hammer of MARTIAL LAW comes down.

#123 Flop... on 04.23.20 at 7:15 pm

So many people can’t wait to sit on the Dole.

I have no intention of sitting on a banana…

M45BC

#124 Chico the Chicagoan on 04.23.20 at 7:15 pm

#80 Reality is stark on 04.23.20 at 5:41 pm

“A bungalow in Chicago is worth about $275,000.
The Toronto price needs to correct about $500,000 to come back to a realistic value.”
————————————————————-

Took a trip to your lovely Chicago in 2013 to visit some Frank Lloyd Wright architecture. En route to one of his buildings in Oak Park, the cabbie blurts out, “listen folks, let me give you some serious advice. When you are done your tour of the building, don’t dare walk around the neighbourhood. It is too dangerous.” Even if he hadn’t told us, it was obvious that the neighbourhood was one tough hood. Pack your bags and buy a bungalow there buddy…

#125 Ace Goodheart on 04.23.20 at 7:16 pm

Looks like the end of the lock down is on the way.

Brought to you by a rather unlikely candidate.

The spring/summer golf season.

Turns out that you can take school and parks away from the kids, you can take service jobs away from the single moms and the students, you can take vacations away, hair cuts, hardware stores, pet shops, hockey, basketball, professional sports.

Anything can be confiscated in the name of the virus.

Except golf. The domain of the upper class white dude.

Golf must go on.

Damn the lock down. Open the private golf clubs.

#126 Wrk.dover on 04.23.20 at 7:24 pm

Retail margin on lower sales will need to inflate.

#127 Figmund Sreud on 04.23.20 at 7:24 pm

Oh, how so very cool!

“Intercontinental Exchange Inc. said it will soon allow for the listing of options contracts with strike prices that are negative. It follows a similar recent announcement from CME Group Inc. that it would make negative options available on West Texas Intermediate and other oil contracts as of Wednesday’s close.”

Oil Back Below Zero? There’s an Option for That Now
https://www.bloomberg.com/amp/news/articles/2020-04-23/oil-going-back-below-zero-there-s-an-option-for-that-now?sref=pP1HNgUs&__twitter_impression=true

Best,

F.S. – Calgary, Alberta.

#128 Flop... on 04.23.20 at 7:28 pm

So, I’ve been talking about this COVID testing site I drive by everyday for about a month now.

The signs says…

Satellite Assessment Site for Health Care Workers and Medical Staff.

When I drive by at 7:15 they are just setting up for the day.

When I drive by 3:15 there are 5 or 6 Police or Transit Police looking bored, guarding the entrance.

Number of health care workers being tested infer the tents?

Zero.

What goes on during the day?

Who knows, but if it was being overun, there would surely be a lineup, at the least.

If we were truly experiencing what the people in t.v land want us to experience, this would surely be different.

I would yell out, but I’m pretty sure a Two Headed Tasmanian driving a gas guzzler in these parts is a felony…

M45BC

#129 Airline CEO on 04.23.20 at 7:30 pm

Westjet will be liquidated unless bailed out by the government. Onex has been waiting for the right opportunity. The ones that survive will be using AI. Don’t need humans for that anymore.

As per Ray Dalio: We are currently in a depression and the economic drop will bottom out in 3 years. So, recession for 3 year (big U) and depressionary recovery akin to the 1935-45 period where the long term credit cycle (every 75 years or so) just rolled over and will lead to new ways of doing business and monetary policy.

Business and supply chains will never be the same. The good news is that innovators who get the new world order right will reign supreme.

#130 AACI Homedog on 04.23.20 at 7:37 pm

Awesome post Garth. Thanks soooo much.

#131 Western Canadian on 04.23.20 at 7:39 pm

We always have to watch out for an Eastern bent on our news.

Is Halifax the cruise ship capital of Canada?

Let’s look at some numbers

In 2019, the Port of Halifax had 179 cruise vessel calls with just under 325,000 passengers aboard.

The Port of Vancouver’s cruise terminal at Canada Place welcomes upwards of 900,000 passengers each year as the homeport for many of the Alaska cruises.

Unless Vancouver is not in Canada, they are the clear winners

A Western Canadian first, Canadian second

Thanks for mp3 yesterday, it was appreciated

#132 crowdedelevatorfartz on 04.23.20 at 7:49 pm

@#97 Lost the Lease
“Phartzy is Toast”

+++

Old news.
I “floated” that link this morning.
Floating fecal microbes with covid19 attached….
A diabolical man made Wu-flu if there ever was one.

I’m worse than acid spraying, hull breaching, Aliens….

https://www.youtube.com/watch?v=UQVoI4YDFxI

Try and keep up….

#133 Just a guy... on 04.23.20 at 7:50 pm

Sorry i am a simpleton but… If house prices drop. Isn’t that deflationary?

So deflation IS upon us, no?

Not yet. – Garth

#134 Figmund Sreud on 04.23.20 at 7:54 pm

Michael Moore, … enemy of the left! Full length flick:

Michael Moore Presents “Planet of the Humans” Documentary: We Are Losing The Battle To Stop Climate Change

https://www.realclearpolitics.com/video/2020/04/21/michael_moore_presents_planet_of_the_humans_documentary_we_are_losing_the_battle_to_stop_climate_change.html

Enjoy,

F.S. – Calgary, AB.

#135 Drill Baby Drill on 04.23.20 at 7:56 pm

Kids these days. My daughter whined that she misses her Starbucks double frappachino,gender bender flappey latte with sprinkles. I said to her you realize that cup of so called coffee costs more than a barrel of Alberta’s finest !!

#136 Howard on 04.23.20 at 7:57 pm

#41 Howard on 04.23.20 at 4:32 pm
Garth presenting the Harry Dent thesis today!

Deflation would be manna from heaven for savers after a brutal 10 (nay, 30) years.

With negative interest rates? – Garth

————————————————-

Presumably the braindead 2% GICs will always be available even in the midst of negative overnight lending rates. Less risk-averse savers can supplement that with investment in specific undervalued sectors, or bank dividend stocks they plan to hold long term. I would think that broad market equity ETFs would NOT do well in a deflationary environment nor would gold.

A deflationary environment favours impulse control – if prices are gently falling, it’s better to wait and save as opposed to buy now with more leverage. Ideal scenario for savers.

#137 Adele on 04.23.20 at 8:01 pm

#94 Sold Out

You asked for it, you got it…

Injecting disinfectant…

#138 MF on 04.23.20 at 8:03 pm

#1 TurnerNation on 04.23.20 at 3:14 pm

Ouch. Stumbling out of the gate tonight I see^

Anyways,

Harry Dent:

The virus isn’t the issue, it’s the unending stimulus, debt levels that have put many people and companies at risk.

Expected big casualty of this downturn? Real estate.

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

MF

#139 Jeffrey Bush on 04.23.20 at 8:05 pm

The next generation will not be saddled with the debt of the current generation. Actions by the bank of Canada will eliminate the debt we create today. Imagine a 1000 year zero coupon bond. Now project that same logic on a 20 year government of Canada bond. Stop fear mongering Garth.

Kids are so cute. – Garth

#140 MF on 04.23.20 at 8:06 pm

#29 Coho on 04.23.20 at 4:08 pm

No, it’s harvest time for the liquid. Pay attention.

MF

#141 MF on 04.23.20 at 8:10 pm

#120 Not 1st on 04.23.20 at 7:09 pm

“My dear millennials, your economy runs on oil. I know that offends you and you just wish it could run on unicorns and fairies and Trudeaus beard, but that’s not reality and never will be.”

-Can someone please figure out who this guy is talking to?

MF

#142 Lost...but no leased on 04.23.20 at 8:13 pm

#127 Flop… on 04.23.20 at 7:28 pm
So, I’ve been talking about this COVID testing site I drive by everyday for about a month now.

The signs says…

Satellite Assessment Site for Health Care Workers and Medical Staff.

When I drive by at 7:15 they are just setting up for the day.

When I drive by 3:15 there are 5 or 6 Police or Transit Police looking bored, guarding the entrance.

Number of health care workers being tested infer the tents?

Zero.

What goes on during the day?

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

Is that the one on 33rd off CAMBIE?
If so…NOTHING is going on.

Buddy and I have driven past that site several times and NOTHING is going on…actually last week security guard shrieked at us ” NO PHOTOS “…..not surprised,or the scam would be exposed.

Its simply a fear porn prop…just like the near empty testing station in Burnaby Central Park.

#143 GrumpyPanda on 04.23.20 at 8:17 pm

I just went shopping at No Frills. I am not doing that again. Garth, the reason you love Bandit is because he is probably smarter than the average Torontonian. I seriously doubt most people here can count to six let alone understand how large 6 feet is. I was actually bumped by one of the teenaged staff wearing a face mask.

#144 To the moron from cold lake on 04.23.20 at 8:20 pm

So what do you not understand about 14 day quarantine after you travel? This is a mandatory health order for travel even within Canada.

This is why Canada has problems is because of idiots like yourself!

Quarantine after travel means quarantine period.
Thank you for coming from cold lake infecting a friend who works in a nursing home and now infecting the nursing home.
Announced on today’s BC live update.

People like you should be horse whipped.
I don’t give a dam if you don’t have symptoms that why we call it quarantine.
So thank you! I hope they publish your name.
Besides being a total moron You are a criminal period!

Wake up people!

#145 Marco on 04.23.20 at 8:23 pm

#45 Yukon Elvis on 04.23.20 at 4:38 pm
#3 Dolce Vita on 04.23.20 at 3:25 pm
In a historic time of crisis, you continue to be EXCELLENT Garth, just excellent.

Be it summarizing fast moving events, their analysis and summary with recommendations…you NEVER disappoint.
……………………………

Neither do you. Brown noser. You sound like a pre teenage girl at a Justin Bieber fan club meeting.
………………………………………………………………….

Brutal, elderly abuse. Mama mia ajuto….

#146 Drinking on 04.23.20 at 8:35 pm

#109 Long-Time Lurker

Yet you love this blog as much as the rest of us so called dysfunctional ideologist! Thank you Garth for being as crazy as the rest of us! :)

#147 fishie on 04.23.20 at 8:41 pm

# 48 The Historian “Hey Fishie, read your history books. The Spanish Flu killed an estimated 100 million souls. It capped off WWI which killed 40 million. Still think it’s never happened before? How about its happened before on a grander scale..”

Mr Historian, I happen to have 3 letters after my name that verify I’ve read my share of history books. Never in the history of man has there been a global reaction to an event such as we’re experiencing today. Nowhere in my post did i reference number of deaths as a data point. The events you mention did indeed take its toll on human life. However, they did not impact every country and every economy on the planet. As Garth so eloquently points out every day, we are in uncharted waters in terms of an event impacting global activities and economies. THIS HAS NEVER HAPPENED BEFORE

#148 Captain Uppa on 04.23.20 at 8:45 pm

I feel we are becoming very much prisoners of the moment.

People will want to travel and fly again. Stay in hotels and AirBNBs. Take road trips. See the Raptors play. Watch the newest blockbuster at the theatre. Etc.

Having said that, I do not see the need for all that office space use. A lot of jobs can be done from home and that is the one thing I believe will change.

#149 Yukon Elvis on 04.23.20 at 8:47 pm

#77 Dolce Vita on 04.23.20 at 5:37 pm

I read Cdn. business MSM articles a lot every day and no one comes close to this Blog.
……………………………….

I read Mad Magazine a lot every day and no one comes close to you. Fanboy.

#150 renter on 04.23.20 at 8:52 pm

my landlord is looking for 12 more new cheques for the coming year as he’s run out, me and my wife have been out of work since mid march and on pogie,not looking like I’ll be back to work before June at the earliest and the wife later, I don’t want to screw the landlord and am willing to pay, can just about cover food and rent with the pogie. my question to the dogs and Garth is should i try and haggle the rent down and supply 12 months of new cheques or just hand over the cheques and wait and see if rents come down as predicted and move if we find something with more bang for our buck which will be in 2021 I guess.I actually feel for landlords at this time as they’re in the same boat as everybody else.

#151 crowdedelevatorfartz on 04.23.20 at 8:54 pm

@#128 Floppie
“So, I’ve been talking about this COVID testing site I drive by everyday for about a month now.”

++++
Yeah, God forbid they actually set up these test sites around the Lowerbrainland to actually get some clear numbers on:
WHERE the infections are clustering.
HOW large the clusters are.
WHY they may be growing.
WHO may be at risk if any at all.

Donkeys in charge of monkeys.

Dont forget to ruin a good set of pots at 7pm sheeple.

#152 crowdedelevatorfartz on 04.23.20 at 8:56 pm

@#141 MF
“Can someone please figure out who this guy is talking to?”

++++

You.

#153 Bytor the Snow Dog on 04.23.20 at 8:59 pm

#12 Tater on 04.23.20 at 3:32 pm sez:

“#317 IHCTD9 on 04.23.20 at 2:37 pm
#292 Tater on 04.23.20 at 12:16 pm

Always funny to see people who are proud of saving more than they spend bemoan the federal deficit.
———

I always get a chuckle out of folks who think everyone needs to spend like gangbusters before a government can balance a budget.

One trick I employ for balancing a budget is to **stop spending so much damn money**, this always seems to help.
————————————————————-

A balanced budget means either more private debt or less private savings. Which do you prefer?”
——————————————————————
What in the hell are you even talking about? Apparently logic doesn’t exist in your world. How about this- governments have us pay taxes and then offer the services those taxes can afford. No more, no less.

Private savings and debt have nothing to do with it.

#154 Alphageddy Lee on 04.23.20 at 9:09 pm

So many commenters on here can’t handle the truth. Do you not see the paradigm shift unfolding before your eyes? A few folks here in steerage continue to point it out, along with Mr Turner who at least questions whether the economic crushing and limiting of civic freedoms will be worth it. The key word is “question.”

Grow a pair. Start asking questions. Hard questions. Then, if you can accept what’s really going on, you’ve got ammunition to decline to participate in the b.s. show. Turn off your bloody TVs, too.

#155 Drinking on 04.23.20 at 9:12 pm

#149 renter

Best thing to do is to have a realistic talk with your landlord. It is unfair of them to ask you for 12 months of cheques under these circumstances. You both need to agree with something in the middle. Seems like you respect your landlords and I should hope they do to you as as well. If not, then dam, have to go through the legal ways!

#156 MF on 04.23.20 at 9:13 pm

#151 crowdedelevatorfartz on 04.23.20 at 8:56 pm

-Are you new here?

MF

#157 MF on 04.23.20 at 9:22 pm

#146 fishie on 04.23.20 at 8:41 pm

” As Garth so eloquently points out every day, we are in uncharted waters in terms of an event impacting global activities and economies. THIS HAS NEVER HAPPENED BEFORE”

-Umm no.

Plague of athens, black death, numerous cholera outbreaks, small pox, polio, etc. etc. etc.

For the world, it’s not having to worry about pathogens and plagues that is out of the ordinary.

MF

#158 Stan Brooks on 04.23.20 at 9:28 pm

In long run (after the virus) AirBnb/Booking will succeed, relatively (for a broken populace) . It has much lower operating costs, much better prices than the hotel businesses. So the first to die will be the hotels. People will still need to travel and even businesses could start using low cost alternatives.
Of course if you leveraged on condos, counting on short term rentals, you are doomed. If you over leveraged buying a house (i.e. less than 50-60 % down-payment) , you are doomed.

Restaurant and hospitality business is doomed. It has faced the music with people out of money and credit for a very long time. So is commercial retail/malls with a few exceptions.

Deflation of cheap TVs? Sure.

And inflation of all of value.

Steve Hanke (an expert in inflation) measures hyperinflation as over 50 % monthly inflation.

All you need is 50-100 % total inflation of necessities (not monthly) with interest rates stuck at zero, no indexing of budget based benefits/pensions/EI and huge downward pressure on wages in order to get to your personal Armageddon with irreparable deterioration of standard of living.

This could translate to a few years of 10 % ‘official’ inflation.

There is no cushion to mitigate the impact as there are practically almost no savings, the number of people in distress in the first month of the crisis is quite significant as almost everybody was over-leveraging on debt. Picture the fall and the winter if no cure is quickly found, let’s hope vaccine or medication is developed rather quickly/like a month ago.

Complex integrated systems are very hard to built and it takes a very long time on the way up while damage/destruction could happen simultaneously based on long built pressure with unsustainable models
triggered in some cases by a single event. The events is the trigger, not the cause. The cause in this case is record unproductive debt and lack of savings, complex business inter-dependencies.

What could have been a walk in the park (i.e. a severe winter) in the past now is a crisis of almost biblical proportions in the ‘just in time’/pay as you go/ economy.

Inflation of food/necessities is all the matters, inflation of other stuff is useless as it won’t be consumed at all, in the next few years very few people will see a physiologist or go to the gym.

I expected exactly whatever unfolds right before our eyes at the moment to arrive in 10-15 years time frame , much slowly, and was preparing for it, but stuff happens and here we are 10-15 years ahead in the future with no time machine to go back.

So the future is here with a very few prepared for it.

As the host here says frequently: Deal with it.

Cheers,

#159 Dsve on 04.23.20 at 9:34 pm

Here is what actually will happen…

Synchronized government stimulus will provide so much liquidity into the marketplace that nearly all assets will appreciate in price. The increase supply of money has to go somewhere!!! It will drive up the prices of assets – just like the stimulus did after the 08/09 recession. This will be nearly the same. History rhymes.

There is no doubt in my mind that Powell, Lagarde, etc actually know what they are doing and they will stop at nothing to do whatever it takes to avoid deflation.

I can appreciate the argument of this simply kicking the can down the road for more austerity measures to come, but that’s down the road…..

My conscious actually thinks it’s awful. The people with the money to own equities and income producing assets will get richer while the low income renters will at best just tread water. I really do feel sorry for them.

#160 Landlord Larry on 04.23.20 at 9:36 pm

#149 renter on 04.23.20 at 8:52 pm

“I guess.I actually feel for landlords at this time as they’re in the same boat as everybody else.”
——————————————————————
Glad to hear a tenant seeing it from the landlord’s perspective. I have had the same tenant’s for decades. Nobody stays for decades unless you have been good to them. That’s why my tenants have all paid me, and as I never charged full market rates, they would be embarrassed to ask me to reduce my rents now. They also know that the first second they have asked for something done, I was on it pronto. So to answer your question, it really depends on the relationship you have with your landlord. Everything in life boils down to the relationship you have with the other party.

#161 TurnerNation on 04.23.20 at 9:39 pm

#103 ts you want to know something interesting, statistically.
Italy – Quebec – New York City – each has a certain very dominant faith group (C). The ratios are online. All have suffered greatly.
What are the chances three stronghold areas like this are #1, 2, 3?
(I don’t gave a dog in the faith market myself)

#162 john m on 04.23.20 at 9:41 pm

A whole different ball game in such a short time and in some ways a pretty damn challenging lifestyle change for our younger generation with a credit lifestyle image of success…hopefully they will realise now the challenges us old guys went through with no handouts building a prosperous country and never asking for anything and preaching the importance of saving for bad times..to be scoffed at!

#163 Mr. Historian on 04.23.20 at 9:44 pm

#146 fishie on 04.23.20 at 8:41 pm

“Mr Historian, I happen to have 3 letters after my name that verify I’ve read my share of history books. Never in the history of man has there been a global reaction to an event such as we’re experiencing today. Nowhere in my post did i reference number of deaths as a data point. The events you mention did indeed take its toll on human life. However, they did not impact every country and every economy on the planet. As Garth so eloquently points out every day, we are in uncharted waters in terms of an event impacting global activities and economies. THIS HAS NEVER HAPPENED BEFORE.”
————————————————————
Once again, I am surprised that someone with 3 letters after his name thinks that the Great Depression did not impact the whole planet. Really? Please enlighten me as to what parts of the planet were not affected by it. Further, Captain Garth, along side his comments that this has never happened before is also saying that life will resume again. He is not preaching doom and gloom but is providing a steady rudder for these times. Humanity is resilient and we will move on. That’s Garth’s message. Get your house in order (pardon the pun) and you will survive. Nuff said!

#164 Rural Rick on 04.23.20 at 9:46 pm

Bearded One your brilliant site for financial freedom has been infected. If you are not going to slap down the morons as they appear you should just shut the the comments.

#165 Doug t on 04.23.20 at 9:46 pm

#150 fartz

Bang those pots you idiots lol – bang them against your thick skulls

#166 Doug t on 04.23.20 at 9:49 pm

#139 Jeffrey bush

HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHHAHAHAHAHAHAHHAHAHAHAHAHHAHAAHHA
LOL

#167 Larry1 on 04.23.20 at 9:50 pm

>>“Deflation is the enemy of property.”

Not sure about this, especially for a fully paid off income property, since you would be getting paid in money that is worth more as time goes on (Assuming rents stay the same). D. Rosenberg was recently talking about this… in a deflationary time, one wants to be a rent collector. What you don’t want to be in deflationary times is a debtor since you are paying back in money that is worth ore as time goes on.

#168 things will be the same on 04.23.20 at 9:52 pm

All these people claiming things will never be the same make me think the virus is far more widespread than thought, and now it’s eating brains.

By fall people will be flying, eating in restaurants, staying in *gasp* Airbnbs, drinking in bars and otherwise behaving like we always have.

The only lasting difference will be West Texas Intermediate will no longer be known as WTI, but by it’s more accurate name WTF.

We have not only recovered from events like this in the past (do I really need to name them all?) but far worse ones.

Get a grip for Pete’s sake.

#169 Sold Out on 04.23.20 at 9:52 pm

#137 Adele on 04.23.20 at 8:01 pm
#94 Sold Out

You asked for it, you got it…

Injecting disinfectant…

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

I saw the presser; I wasn’t going to bring it up, but now that you have…

I especially liked watching him squirm when asked about the demotion of
Rick Bright, head of BARDA, for not supporting Trump’s attempt to ram through approvals for hydroxychloroquine.

Brilliant, get rid of the guy who’s going to find you a vaccine.

https://time.com/5825983/rick-bright-covid19-hydroxychloroquine-trump/

Good thing Trump still has the dog breeder to lead the Health and Human Services response to the pandemic.

https://nationalpost.com/pmn/health-pmn/hhs-chief-azar-had-aide-former-dog-breeder-steer-pandemic-task-force

We are, literally, half way to a dog and pony show.

#170 Dan on 04.23.20 at 9:59 pm

November 2016 – People proclaim President Trump will turn the US into a dictatorship.

March 2020 – President Trump locks down the country using the Stafford Act.

April 2020 – President Trump stages a re-opening of the economy.

April 2020 – People scream: “HELL NO WE WON’T GO… OUTSIDE”

May 2020 – Every sane person’s head explodes from irony, which is causes 25x more deaths than the Wuhan Flu.

#171 ImGonnaBeSick on 04.23.20 at 10:05 pm

Do I need to remind that this is not a window blog? Don’t be a pane. – Garth

——
^^^^^^^^^
Completely unappreciated joke…

I guess the problem with window puns, is that they are terribly transparent.

Reminds me of the time a cop pulled me over for my dark window tint. I didn’t understand why my glass being dark was such a big deal until he removed the tint.

Then it was clear to me.

#172 WAKEUP on 04.23.20 at 10:10 pm

A poll was taken after Trudeau was elected surveying why people voted for him.
One of the most common answers from woman was that he looked great in a tee shirt.
Congratulations people you got what you deserved, a globalist that looks good in a tee shirt.
Get prepared party’s over when the money dries up.

#173 Sail Away on 04.23.20 at 10:13 pm

#95 Sold Out on 04.23.20 at 6:12 pm
#73 Sail away on 04.23.20 at 5:20 pm
Hey Sold Out:

Did you see Trump has modified his response and is now suggesting caution on hydroxychloroquine?

Smart realists modify their response as new facts emerge.

Certain other types just keep jumping up and down on the same dead horse. Know anyone like that?

—————-

3 weeks ago you’d have cheerfully fed it to your staff, if you thought it would’ve made you money.

—————-

Haha. Still would, for that matter, if it would make me money. And of course cheerfully, as that’s the way I do most things.

Speaking of cheerful, this unexpected govvie windfall will allow me to draw salary for March and April after all. Ka-ching! It also appears the firm may sail through this relatively unscathed having picked up a few good contracts this week.

#174 cramar on 04.23.20 at 10:14 pm

#84 WAKEUP on 04.23.20 at 5:51 pm

Author of the Bio Warfare Act Fransis Boyle says Covid is a Bio Weapon.
Worlds top Virologist and discoverer of HIV virus Luc Montagnier says Covid is a Bio Weapon.
Top Russian Virologist today said that the virus has been engineered.

What I’m getting at is if this is Bio engineered then besides the war against China scenario, this is is no longer to be considered flu2.0.
It means its designed to take you out in many different ways.

———-

Decided to fact check and started with Luc Montagnier since he seemed to be the most credible. Actually some are claiming he has gone looney in recent years, but that is for another story. Anyway, he DID NOT claim that Covid-19 was a “bio weapon”. He claims that the lab was doing research using corona viruses with the goal of developing an HIV vaccine, when it infected a worker who was Patient 1. That is a far cry from “bio weapon,” which implies a sinister intent.

If this lab origin proves to be true, then I am reminded of Hanlon’s Razor: “Never attribute to malice that which is adequately explained by stupidity.”

Hanlon’s Razor applies even more if the lab idea proves untrue. If it did in fact originate in bats from the wet market, it is still human stupidity!

I never bothered to fact check the other sources for “weapon”. One was enough.

#175 Phylis on 04.23.20 at 10:23 pm

#125 Ace Goodheart on 04.23.20 at 7:16 pm Don’t worry, they will be practicing social distancing. Any putt within 6’ is a gimmie.

#176 Phylis on 04.23.20 at 10:29 pm

#146 fishie on 04.23.20 at 8:41 pm A historian saying it’s different this time? Now i’ve heard everything.

#177 Ponzius Pilatus on 04.23.20 at 10:30 pm

#46 Yukon Elvis on 04.23.20 at 4:38 pm
#3 Dolce Vita on 04.23.20 at 3:25 pm
In a historic time of crisis, you continue to be EXCELLENT Garth, just excellent.

Be it summarizing fast moving events, their analysis and summary with recommendations…you NEVER disappoint.
……………………………

Neither do you. Brown noser. You sound like a pre teenage girl at a Justin Bieber fan club meeting.
———–
Dolce and Fartz should open a Garth fan club.

#178 Reality is stark on 04.23.20 at 10:32 pm

I believe that this virus may have one potential virtue. It has raised awareness of the plight of sex workers.
They would not qualify for CERB as their income is likely unreported. They would also potentially spread the virus if they continue to work.
Now that the government taxes alcohol, drugs, and gambling it is time to visit prostitution. HST on those services could help offset some of these outrageous deficits.
They perform a valuable service and we can tax that value and protect the worker at the same time.
Let’s lead the world in developing new forms of taxation.

#179 Alan Greenspan on 04.23.20 at 10:37 pm

#119 PSL on 04.23.20 at 7:08 pm

————————————————————-
You have been watching too many Peter Schiff videos and Ron Paul nonsense on the gold standard. The gold standard was a disaster when it was employed. When Churchill tried to tie the pound to gold, Keynes stated, “why would you do such a stupid thing?” The article I have posted below shows that the gold standard helped spread the Depression in the USA to the rest of the world . Please read this article and see why gold lovers are not in touch with economic history/reality. Let me quote from the article:

“So, on every score, the gold standard period was less stable. Prices were less stable; growth was less stable; and the financial system was less stable. Why?”

Read the plain facts of history.

https://www.moneyandbanking.com/commentary/2016/12/14/why-a-gold-standard-is-a-very-bad-idea

#180 Drinking on 04.23.20 at 10:51 pm

the Calgary Stampede and the Edmonton Klondike days have been cancelled along with every other summer celebrations throughout the Province, I get it, we are all in this together. But what “REALLY” irritates me about this is the CBC; especially the comments; the hatred towards the West by mostly greens, socialist and paid commenters is just terrorism; how these people are not investigated is beyond me. I beleive in free speech but there is a big difference between free speech and hate; Garth would never allow that. I just do not understand on how Canadians do not realize on how much we have contributed to Confederation. How many we have employed across of all Canada; how much money went to social services and yet CBC cannot find one; just one kind word to say about us. I just cannot believe we fund these idiots. Liberal/socialist/communist loudmouths; just incredible we put up with this. Eff them!

#181 april on 04.23.20 at 11:00 pm

What does RO stand for?

#182 Wake up indeed on 04.23.20 at 11:03 pm

@#85 WAKEUP on 04.23.20 at 5:51 pm
Author of the Bio Warfare Act Fransis Boyle says Covid is a Bio Weapon.
Worlds top Virologist and discoverer of HIV virus Luc Montagnier says Covid is a Bio Weapon.
Top Russian Virologist today said that the virus has been engineered.

What I’m getting at is if this is Bio engineered then besides the war against China scenario, this is is no longer to be considered flu2.0.
It means its designed to take you out in many different ways.
_______________________

take off the tinfoil hat.

https://science.thewire.in/the-sciences/luc-montagnier-coronavirus-wuhan-lab-pseudoscience/

#183 Post on 04.23.20 at 11:11 pm

You might want to read Steve Eisman’s take on the Canadian Banks further down in the article.

https://www.cnbc.com/2020/04/23/big-short-steve-eisman-likes-the-big-us-banks-after-coronavirus-sell-off.html

#184 Drinking on 04.23.20 at 11:13 pm

Eff the useless CBC; picked this up from the Financial Post; prepare people.

https://business.financialpost.com/commodities/agriculture/family-farms-will-be-lost-hog-farmers-fear-bankruptcies-pork-shortage-as-meat-packing-plants-close

#185 DDT on 04.23.20 at 11:14 pm

tried to listen to Turner Investments Client Call, April 21, 2020, but could not take the beeps, ended up just counting the number of people joining the call…

#186 Don Tuer on 04.23.20 at 11:26 pm

Thank you as always, great insight.

#187 Don Guillermo on 04.23.20 at 11:32 pm

#129 Airline CEO on 04.23.20 at 7:30 pm
Westjet will be liquidated unless bailed out by the government. Onex has been waiting for the right opportunity.
***********************************
Why would they bail out West Jet? It’s not headquartered in Montreal. Mon dieu!

#188 Dr. Tam failed Canada on 04.23.20 at 11:41 pm

DELETED

#189 PVS on 04.23.20 at 11:56 pm

#146. “Mr Historian, I happen to have 3 letters after my name that verify I’ve read my share of history books. Never in the history of man has there been a global reaction to an event such as we’re experiencing today.”

You are correct but consider a key historical term- presentism. As you are likely aware, we look back at past events from our current lens/perspective in the here and now. Step back, reflect on the big picture. Consider that those living through the Spanish Flu or a Global War had as difficult a time putting their reality into perspective as we do today with this pandemic.

Good governments and wise individuals understand this well. They make difficult decisions for the common good. Today, the common good means securing the health and welfare of as many people as possible.

There is a pervading lack of trust in the political, scientific and health communities entrusted to protect the fabric of our society today. This is unfortunate.

Some perspective in relation to this blog: There are over 150 comments posted today. Consider the number that read the comments but don’t comment. This number is likely much higher. These people have a voice but choose not to comment. We can ask ourselves why. Do they agree or disagree with what is shared? How do we hear what they think about a topic? Do we even care?

That’s perspective.

#190 Achie Bunker on 04.24.20 at 12:02 am

Garth

Have you purchased your underground tycoon bunker yet in New Zelaland or did you opt for a budget igloo option in Tuktayukatok? Maybe the vault in Lunenburg might work, it may still have the smell of money in it to keep your capitalist juices aflowin?
https://www.thesun.co.uk/news/11444200/panicky-super-rich-flee-to-luxury-nz-bunkers/

https://www.thesun.co.uk/news/11444200/panicky-super-rich-flee-to-luxury-nz-bunkers/

#191 Carm on 04.24.20 at 12:03 am

In Dubai they are reopening restaurants:

“Restaurants will be using only 30% of the outlet’s capacity and will apply a two-metre physical distance between tables.

All diners and staff should be wearing masks at all times.”

#192 Two-thirds on 04.24.20 at 12:13 am

So, in a deflationary world, hard assets win, correct?

But if Canada prints money like there is no tomorrow, inflation may come too.

Which one is it?

In any case, maybe it is time to buy a potentially collectible used sports/super car, and deploy the savings?

With fuel at just above 55 cents, having a nice v8 or v12 joy machine to isolate in, may just be the thing to beat the covid blues…

Anyone else here eyeing used R8s? Or Aston Martins?

#193 Bad Hombre once yelled at the orange menace, he peed his pants on 04.24.20 at 12:15 am

The pizza delivery guy showed up wearing a bandana over his face. So does he rob me? Do I rob him? And who gets possession of the pizza?

#194 Calguy on 04.24.20 at 12:18 am

To cal rip off. We’ll speak for yourself but the world is interconnected. We rely on air travel to visit family friends and do business. The economic mess this is having is not worth “less airplane noise”. Etc. Everybody everything has been impacted and Alberta seems like is just hit doubly hard. We need a vibrant economy and globalization brought lots of wealth to many. It also has some challenges now. Westjet has provided many great opportunities for my family to escape Calgary winters and discover new places. It also connects us to parents and families in other provinces. Be careful what you wish for…pretty soon it could be one way flights out for people escaping economic misery of alberta. I hope not

#195 conan on 04.24.20 at 12:26 am

Smart realists modify their response as new facts emerge.’ Sail away

You worship a fool who will probably try to start a war if he thinks it will help him stay President.

#196 Trimtab on 04.24.20 at 12:32 am

This:
“A global economic and environmental reset, brought on by the most unlikely force – cooties.”

LOL! I think I’d like that on a t-shirt…

#197 Rare commenter on 04.24.20 at 12:41 am

One group of people do well in a deflationary environment: The working poor.

It might be all bad.

#198 Ronaldo on 04.24.20 at 12:41 am

Well my prediction has come true regarding the Cerb program. My son emailed me and said:

”So the cerb program is taking away the incentive to work. My one other employee is on it, and he’s having a great time out hunting, and has no bills cuz he lives with his dad who pays for everything. No rent, no food cost. I tried to get him to come to work today, and he was out of town hunting. No interest in working.”

Good luck Mr. Trudy in getting small businesses up and running again. This is an example of what is going to take place countrywide. Socialism at its finest.

#199 DON on 04.24.20 at 12:53 am

#88 Bernie Sanders on 04.23.20 at 6:04 pm

#73 Sail away on 04.23.20 at 5:20 pm
Hey Sold Out:

“Did you see Trump has modified his response and is now suggesting caution on hydroxychloroquine?

Smart realists modify their response as new facts emerge.”

————————————————-
Or change their views when folks die from taking hydrocholorquine. Really smart Mr. Trump, really smart. Nothing like playing with people’s lives and then changing his mind…
**************

That’s more like it…Trump has been trying to talk up the markets every Sunday and Wednesday at the end of the day.

Last week the market jumped on news of Gilead and less than a week later this from Bloomberg “Gilead Plunges After Report That Virus Drug Trial Was unsuccessful”.

Trump is trump and a realists in not the way I would attempt to describe him.

#200 Dr V on 04.24.20 at 12:58 am

152 Bytor

“Private savings and debt have nothing to do with it.”

True story. Business associate’s professional corp
makes just a little less than mine does. But he pays
way more tax. Why? He has a big house, and is madly paying down the mortgage. He has to realize that income. So big debt = big tax.

And even if I realize income, but choose to invest it
rather than spend it on a “shiny new”, I do not pay the two consumption taxes.

So the two scenarios make sense to me.

#201 El presidente clorex on 04.24.20 at 1:14 am

“Supposing we hit the body with a tremendous — whether it’s ultraviolet or just very powerful light,” Mr. Trump said. “And I think you said that hasn’t been checked, but we’re going to test it?” he added, turning to Mr. Bryan, who had returned to his seat. “And then I said, supposing you brought the light inside the body, either through the skin or some other way.”

Apparently reassured that the tests he was proposing would take place, Mr. Trump then theorized about the possible medical benefits of disinfectants in the fight against the virus.

“And then I see the disinfectant where it knocks it out in a minute — one minute — and is there a way we can do something like that by injection inside, or almost a cleaning?” he asked. “Because you see it gets in the lungs and it does a tremendous number on the lungs, so it would be interesting to check that.”

#202 Al on 04.24.20 at 1:29 am

“Hotels in Halifax, the cruise ship capital of Canada, are closed.”

If by ” cruise ship capital” you mean most passengers, It seems Vancouver has that title, at least in 2018, followed by Victoria (not surprisingly) and then Quebec City (mon dieu!). Halifax comes in at number 4. No way the least coast would be more desirable than the best coast lol

https://en.m.wikipedia.org/wiki/List_of_busiest_cruise_ports_by_passengers

#203 DON on 04.24.20 at 1:37 am

#141 MF on 04.23.20 at 8:10 pm

#120 Not 1st on 04.23.20 at 7:09 pm

“My dear millennials, your economy runs on oil. I know that offends you and you just wish it could run on unicorns and fairies and Trudeaus beard, but that’s not reality and never will be.”

-Can someone please figure out who this guy is talking to?

MF
++++++++++++

Who know’s….

#204 Dalton Wynne on 04.24.20 at 1:46 am

“Back to Normal”? Not when you wipe out the bedrock of every economy, Mom and Pop. As many billions go into bailing out AC or West Jet, those businesses are statistically miniscule compared to private sector self employed. When M&P lay off ten workers in a suburb the multiplier effect is a thousand times more harmful than a few hundred workers in a car plant. So why do union jobs, far in the minority get the gold mine, while a majority of worker/citizens get the shaft? The backbone of the Canadian economy is SME, not union teachers. Er go, stop funding unions and redirect all that money where it belongs. This is simple. A small business owner will have poured his life savings into a venture. They walk a thin line. A union worker invests nothing, and yet they float in a liferaft of taxpayer largesse. When “normal” returns will it be minus the 80% of the economy represented by SME? Are unions the cockroaches who survive holocaust?

Second point. Public health. Trudeaus liberals created a nightmare scenario by allowing thousands of sickened foreign national land at our airports and run free into our community. I don’t need to provide links on how the liberals have lied and lied and lied.

Thousands dead because of politically correct incompetance. We should raise the Nova Scotia Killer on a pedestal and Paul Bernardo ten million because they only killed a couple dozen, whereas direct acknowledged purposeful purposeful admitted incomptetant interfearance has killed thousands and yet there no call to have these people in an international court facing mass murder charges? Trudeaus knew his plans would kill, how is he not in prison?

Sweden, another WHO Globalist Dupe. OK, now we find out that ” Herd Immunity” is an impossible dream. The Corona Virus doesn’t mutate like SARS and asymptomatic people can still continue to infect everyone they contact with out end. Sweden appointed a liberal globalist dupe as Corona czar and he followed the WHO nonsense to the letter. Sweden just killed 2000 people. Higher than every responsible nation surrounding them. It’s criminal to allow these globalist murderers to continue to administer this madness.

Canada’s opposition is being sacked by media as “racist” for calling out the Corona Administration including Dr Tam. Calling for the dethroning of a murderous incomptetant cabal whose history proves the call for thier replacement. That’s not racism that’s Canadians calling their MPs crying out for help.

https://www.worldometers.info/coronavirus/country/sweden/

If the globalist elite succeed, then yes, by all means parole Paul Bernardo, give him ten million. In that scenario, the Liberal bureaucrats look like a panel of Nobel candidates. I care, am I alone?

#205 Ms Fool on 04.24.20 at 1:50 am

@ #20
“Lowly” they are not (and they should be tipped appropriately too)

It’s very generous of you. I worked in houskeeping at a 5 star hotel, hardest job I have done so far. At the end of the shift all my body was aching, I had to take pain killers so I could fall asleep. I never expected tips from a guest as I thougth they were already paying for the service, but when someone was generous enough to leave 5 bucks for me, it just made my day. Tips in housekeeping aren’t common, and interestingly I just received tips from the tidy guests, the messy ones didn’t care.

*******
I luv you Garth, thank you for being the voice of reason. I come to your blog for my daily dose of humor and learning. I also thank Dorothy (and Bandit) for supporting you in this blogging endeavor.

#206 morrey on 04.24.20 at 2:09 am

we have a triple threat:
1) a health crises
2) Credit/Bond Crises.
3) a crises of leadership cf. Bleach Drinking Blonde in the WH

This is heading to a global recession and nationalism. National banks are propping up economies in order to keep the societies afloat.

A new economic revolution awaits us:

Thomas Piketty : Capital in the Twenty-First Century.

Tax havens for billionaires will be curtailed.

So higher taxes for all.

#207 VicPaul on 04.24.20 at 2:35 am

#125 Ace Goodheart on 04.23.20 at 7:16 pm
Looks like the end of the lock down is on the way…

Anything can be confiscated in the name of the virus.

Except golf. The domain of the upper class white dude.

Golf must go on.

Damn the lock down. Open the private golf clubs.

*********
Ouch Ace.
Sure, when you frame it that way it may look a bit elitist. I played this afternoon – first day our club has been open in a month. Strict protocols (no clubhouse entry, no rakes/ball-washers etc) tee times spaced to fifteen minute intervals.
I prefer to look at it as encouraging a mentally and physically healthful practice as we ease out of restrictions. Join me?

M56BC

#208 NEVER GIVE UP on 04.24.20 at 2:39 am

I do think business can start up again with strict rules.
Every retailer should have Plexiglas shields at Cash registers.
Perhaps there should be a counter whereby the cashier could simply supervise the customer scanning and bagging their own goods.
Since my Delivery man has taken leave as he has elderly parents he takes care of, I have been doing his job. Voluntarily.
I notice that it is easy to distance from almost all people I deliver to. I wear a mask and Gloves. I place the delivery on the dock and they pick it up after.
I don’t ask them to sign for it any more. No more sharing pens etc.
Some people don’t get it and I tell them to give me distance.
My business is down 50% but I am grateful that I have any business and that I am not actually losing money at this time.
One of the reasons I am still OK is that I have no debt nor car and truck payments.
Whew! Is that ever a relief!
I came out lucky this time as I cashed out all my stocks 8 months ago and sat in cash for what seemed like eons.
I was patient and I knew something was up so I waited. I bought back in to SPY and the SPDR TSX etf at a 30% discount. I am hoping I will be OK.

#209 robert james on 04.24.20 at 2:52 am

Mainland Chinese real investors are expexted to pull back from overseas realstate in 2020… https://dailyhive.com/vancouver/mainland-china-real-estate-investment-forecast-2020?fbclid=IwAR3R_0SMaaoLivaMZQv_AYKJThDsULD5oZjGkhKIMnsvJ9y8CuQt5JUcH78

#210 KF on 04.24.20 at 3:12 am

https://www.cnbc.com/2020/04/24/lawsuits-outrage-over-chinas-handling-of-the-coronavirus-pandemic.html

#211 WD on 04.24.20 at 3:20 am

REITS focussed on retail. Just distressed – think again…

https://www.cnbc.com/2020/04/23/coronavirus-will-speed-up-store-closures-what-landlords-need-to-watch-next.html

#212 Wag the Dog on 04.24.20 at 4:55 am

Historic !! Not long ago a cabal of metals traders in London had their day in court, and it was ugly. The skulduggery exposed proved longstanding rumors that metals market manipulation of the gold fix had been illegally duped by trading paper contracts far in excess of the availability of physical gold for delivery.

https://www.bloomberg.com/news/articles/2020-04-24/gold-bars-heading-11-000-miles-to-new-york-in-supply-squeeze?srnd=premium-asia

Could be gold bears might be in for a squeeze.

#213 William Laidlaw on 04.24.20 at 6:37 am

Garth:

Thought you might be interested in what I see out the front window of my store that literally sits beside the Trans Canada Highway in Ignace ON.
The number of transport trucks rolling by in both directions does not look like it has changed appreciably, but the number of cars is way down. Many are dragging those little UHaul trailers.
I added fresh flowers to my local artist gallery this winter – and business has been steady – delivery to your doorstep only of course. This is interesting considering that I am officially closed to walk-in customers by fiat. The phone still works though.
What will the summer bring for tourist traffic? I will tell you in September.
Keep up your daily blog, it is part of my morning read.

#214 Steven Rowlandson on 04.24.20 at 7:10 am

I see you are paying attention to the consequences of contracting too much debt of all types. Good boy but it is a little late isn’t it? There is no decent or painless way out of this situation any more. The pleasure of contracting financial HIV is dubious and the financial position is ridiculous. People and institutions will find that out the hard way soon enough.

#215 Tater on 04.24.20 at 7:34 am

#152 Bytor the Snow Dog on 04.23.20 at 8:59 pm
#12 Tater on 04.23.20 at 3:32 pm sez:

“#317 IHCTD9 on 04.23.20 at 2:37 pm
#292 Tater on 04.23.20 at 12:16 pm

Always funny to see people who are proud of saving more than they spend bemoan the federal deficit.
———

I always get a chuckle out of folks who think everyone needs to spend like gangbusters before a government can balance a budget.

One trick I employ for balancing a budget is to **stop spending so much damn money**, this always seems to help.
————————————————————-

A balanced budget means either more private debt or less private savings. Which do you prefer?”
——————————————————————
What in the hell are you even talking about? Apparently logic doesn’t exist in your world. How about this- governments have us pay taxes and then offer the services those taxes can afford. No more, no less.

Private savings and debt have nothing to do with it.
————————————————————

Oh dear. All income is someone else’s expenditure, correct? So if the government cuts it’s expenditures, some economic actor has their income cut. They can respond by consuming less or by maintaining consumption and taking on debt. If they consume less, they pass this choice to another participant. If they take on debt, the system now has the same amount of debt as it would otherwise, except it is now owed by an entity that is less credit worthy than the government and more likely to default.

#216 Jager on 04.24.20 at 7:46 am

-Valutainment-
Brigadier General Robert S. Spalding
Life After Corona Virus – Will It Ever Be The Same?

https://youtu.be/TNHCSo-taoA

#217 James on 04.24.20 at 8:09 am

So the president says just inject disinfectant. Anybody here who’s sick and a Trump worshipper, just follow this excellent advice.

#218 crowdedelevatorfartz on 04.24.20 at 8:35 am

@#178 Drinking
“But what “REALLY” irritates me about this is the CBC; especially the comments; the hatred towards the West by mostly greens, socialist and paid commenters”
++++

Not to worry D.
The CBC is a zombie. Dead but too stupid to know it.
The ratings for “The Corpse” are still plummeting like a smelly turd in an empty outhouse.
And what are they about to do?

May1st, during a pandemic, after 75 years of broadcasting their english tv channel on channel 3….they are moving it to channel 35….. only the english channel. The french channel stay where it is. Because french is so relevant in Western Canada.

I cant WAIT to see the across the board cuts coming to dead weight govt agencies that are completely irrelevant.
Trudeau has crushed the Govt budgets for decades to come.
The irony?
It may be the Trudeau govt or another Liberal facsimile that may have to drop the axe on their beloved, politically correct, anti everything CBC.
A fart in an elevator has more value than the low ratings, bottom feeding, CBC.
I wont shed a tear.

#219 Lambchop on 04.24.20 at 8:52 am

#153 Alphageddy Lee on 04.23.20 at 9:09 pm

Grow a pair. Start asking questions. Hard questions. Then, if you can accept what’s really going on, you’ve got ammunition to decline to participate in the b.s. show. Turn off your bloody TVs, too.
_________________________

Ask questions of whom? A week ago I wrote to my MP with several questions, hard ones, and all I have received in return so far was an automated Covid19 response as to why they are unavailable. i went to the office, nobody there.

I also made several attempts to contact my municipal leaders with questions as to why access had been blocked to public areas, among other questions. Nobody is at city hall and nobody is answering at the phone numbers posted on the door. Messages aren’t returned either. You try, let me know how far you get because maybe you are better at it than I am.

How do you propose that anybody can “decline to participate in the b.s. show”? You can’t legally choose to not pay higher taxes, not access public lands that have been deemed off limits, not stand in ludicrous line-ups for everything, not gather in groups, not go on vacation.

So we are forced to participate while at the same time we are not permitted to ask any questions, as there is nobody available to answer them.

#220 not 1st on 04.24.20 at 8:57 am

So in the US, Trump and even congress, banks, fed reserve are all directing funds to the most important drivers of the economy trying to revive it or at least keep it afloat. They will go for a couple trillion dollar infrastructure plan next.

If Trudeau were to follow that model, his spending is about 250B short at a min.

Instead of doing whats needed to revive the economy, he has taken what he can get his hands on without breaking the bank and bought votes from different pet groups again. I mean community service groups are great and all, but they factor zero into the economy. The oil industry which contributes 12% of our GDP got less money than arts and community services.

Anyway, you can see where this is going. Oil is our biggest export and RE is our biggest internal GDP churn. Both are DOA and Canada cannot recover without those. Our recovery will be years behind the US.

#221 not 1st on 04.24.20 at 9:11 am

Leon Cooperman says the coronavirus crisis will change capitalism forever and taxes have to go up

“Things like carried interest, capital gains taxes, the ability to roll over real estate sales tax free, all that stuff is going to have to be eliminated,” he said.

“When the government is called upon to protect you on the downside, they have every right to regulate you on the upside,” Cooperman said. “So capitalism is changed.”

https://www.cnbc.com/2020/04/23/leon-cooperman-says-the-coronavirus-crisis-will-change-capitalism-forever-and-taxes-have-to-go-up.html?recirc=taboolainternal

#222 Bytor the Snow Dog on 04.24.20 at 9:15 am

DELETED

#223 Figure it Out on 04.24.20 at 9:22 am

Muddle two chloroquine tablets in a highball glass
Zest of zinc
Expose to ultraviolet light for five minutes. That old blacklight is fine if you’re not day drinking.
2oz of chlorine bleach. For some cocktails it is less important, but in this one the delicate nitrogen notes of a top-shelf bleach can really shine through. Don’t skimp.
Ice to taste

I’m calling it the ‘Phase Two Trade Deal’

#224 Penny Henny on 04.24.20 at 9:27 am

Breaking News*****

This just in. President Trump is recommending tanning booths as a way to kill the corona virus.

“I just think that it has worked for me and I have no germs or viruses. A nice tanning booth or maybe a few sunlamps would be good too.”

#225 Dumb as a Post on 04.24.20 at 9:32 am

Donald Trump thinks maybe someone can work on an injectable disinfectant like the kind that can deactivate CV-19 on a surface within a minute – LOL.

Sure, and if you drink enough bourbon it will kill CV-19 in your body. Maybe add a chaser of water and 10% bleach just to be sure.

Next he will want all light fixtures replaced with UV ones and everyone wrapped in copper.

Maybe FOX news should run a documentary on the human body so Trump understands a little biology.

Trump is entertaining and we can all use a laugh now & then.

@ William Laidlaw – truck traffic is definitely down and the trucking industry is hurting. I get at least 4 calls a week from transport companies looking for business and yesterday I got a thank you e-mail for a shipment to Prince George that we sent via one. That has never happened before.

#226 crowdedelevatorfartz on 04.24.20 at 9:33 am

This from the Financial Illiteracy Idiocy files

West Coast Public Health Minister Bonnie Henry’s SHOES are a “must have” item on the vapid Left coast…

Yes ladies and gentlemen …,
Ignore the pandemic.
Ignore the financial meltdown.
We have more important things to worry about.
Crash the website of a shoe monger….

https://www.citynews1130.com/2020/04/23/fluevog-site-down-dr-bonnie-henry-shoes/

My gawd.
We deserve our fate.
Pray for an Earth cleansing asteroid.

#227 crowdedelevatorfartz on 04.24.20 at 9:48 am

Speaking of financial illiteracy.
Any bets Trudeau’s announcement this morning will have us well over $220 billion for the year?
Anyone wanna bet he gets us to $300 billion for the year?
This guy is completely out of his mind.

#228 not 1st on 04.24.20 at 9:51 am

#215 James on 04.24.20 at 8:09 am
So the president says just inject disinfectant. Anybody here who’s sick and a Trump worshipper, just follow this excellent advice.
—–

Ha, Trump just loves trolling the clueless media. He is the master.

#229 Dharma Bum on 04.24.20 at 10:01 am

The only thing that’s going to restart the economy, here and in the USA is an old fashioned war.

The US is going to have to pick a few fights. Iran, Syria, North Korea, China, Russia.

And I don’t mean a drone war or an airstrike war. I’m talking about millions of people with boots on the ground. That will be their new employment.

The idle factories will be back to work in no time manufacturing missiles, ammunition, firearms, uniforms, gear, vehicles, ships, aircraft, radio-telecommunication equipment, medicine, etc., etc.

Companies like Haliburton and others will BOOM with business. Hundreds of thousands can be hired to sort out the logistics. Pilots can go back to work. All the gun crazy hillbillies can fulfill their dreams of carrying around weapons full time and firing them.

Years and years of employment will ensue. As the infantrymen (and infantrywomen) are annihilated by the tens of thousands, the government can just conscript more and more.

Unemployed? No problemo! You can join the Army. The Armed Forces. The Marines. The Navy. The Airforce. The National Guard. Shape up! There’ll be plenty of work and opportunity.

Can’t fight? Go to work in the munitions factory. They’ll be humming!

Millions will be back at work and the population will be thinned out.

In 2030, after the enemy countries have been reduced to rubble, the US government will rekindle an old Marshal Plan style program to sell supplies, equipment and services to those that they decimated so that they can rebuild their societies and comply to the new world order and serve their rightful masters.

That’s the way it’s done.

That is the way of the world.

It’s the only thing that is going to get the USA out of this mess. Canadians will just have to go along for the ride and support their masters, just like in the last big war.

No worries. In 10 years, we’ll all be back in business.

In the meantime, learn how to march, take orders, and duck.

#230 NoName on 04.24.20 at 10:03 am

#224 crowdedelevatorfartz on 04.24.20 at 9:33 am
This from the Financial Illiteracy Idiocy files

West Coast Public Health Minister Bonnie Henry’s SHOES are a “must have” item on the vapid Left coast…

Yes ladies and gentlemen …,
Ignore the pandemic.
Ignore the financial meltdown.
We have more important things to worry about.
Crash the website of a shoe monger….

https://www.citynews1130.com/2020/04/23/fluevog-site-down-dr-bonnie-henry-shoes/

My gawd.
We deserve our fate.
Pray for an Earth cleansing asteroid.

They are working on prolonging a misery… Here is your cousins video, english version of uncle fester.

https://www.youtube.com/watch?v=0rTv97frhDo

#231 IHCTD9 on 04.24.20 at 10:04 am

DELETED

#232 IHCTD9 on 04.24.20 at 10:10 am

#216 crowdedelevatorfartz on 04.24.20 at 8:35 am

The irony?
It may be the Trudeau govt or another Liberal facsimile that may have to drop the axe on their beloved, politically correct, anti everything CBC.
— –

I don’t even care who does it. Get it done, the sooner the better.

The last thing Canadians need right now is hundreds of millions wasted to support a fear mongering tabloid like the CBC.

#233 Sail Away on 04.24.20 at 10:15 am

#204 morrey on 04.24.20 at 2:09 am

A new economic revolution awaits us:

Thomas Piketty : Capital in the Twenty-First Century.

Tax havens for billionaires will be curtailed.

—————–

Explain, please. That seems illogical. Why would a sovereign government benefiting from providing tax havens stop doing so?

Who would stop them, for that matter?

#234 Orange Man....Orange on 04.24.20 at 10:17 am

#204 morrey on 04.24.20 at 2:09 am
we have a triple threat:

3) a crises of leadership cf. Bleach Drinking Blonde in the WH
+++++++++++++++++++++++++++++++++

Okay…take a breath… release it slowly…..

I know you want to believe that Trump said that, but he didn’t. It never happened.

Same with the guys on the tanning booth BS.

Aren’t there enough problems in the world that you have to go around making up stuff? Try sticking to things that happened.

Sheesh.

#235 Sold Out on 04.24.20 at 10:25 am

DELETED

#236 IHCTD9 on 04.24.20 at 10:25 am

#196 Ronaldo on 04.24.20 at 12:41 am
Well my prediction has come true regarding the Cerb program. My son emailed me and said:

”So the cerb program is taking away the incentive to work. My one other employee is on it, and he’s having a great time out hunting, and has no bills cuz he lives with his dad who pays for everything. No rent, no food cost. I tried to get him to come to work today, and he was out of town hunting. No interest in working.”

Good luck Mr. Trudy in getting small businesses up and running again. This is an example of what is going to take place countrywide. Socialism at its finest.
——-

100% this is happening. I shudder to think how many high school kids who still live at home are cashing in on this. My eldest just qualifies having made over 5k – but if he took the entire CERB – it would pay him more than what he made working last year!

Add to that, in some households it’s totally possible to have say 3 kids living at home 15+ drawing CERB, and over a grand per month in CCB payments for their parents on top! If Mom and Dad happened to be laid off too, we’re talking 11-12 grand per month in handouts! Lol!

Stay tuned for the shenanigans surrounding the 3 click business loans and 75% wage subsidy as they play out in the near future.

#237 not 1st on 04.24.20 at 10:27 am

Anyone with kids knows what Trump goes through everyday in those pressers. The nagging media with the stupid gotcha questions and Trump stands there and takes it like a good dad.

Maybe he finally got sick of their BS and just decided to say something outrageous so the toddlers in the MSM would go run and play in traffic or something. I bet they will be writing stories for 3 days and now he can get back to MAGA. The snowflakes on twitter are frothing at the mouth today.

#238 James on 04.24.20 at 10:28 am

Ha and Trump says Biden would allow China to “Own the United States” Whose bitch are you now DJ Trump?
Hilarious, explain that one Orange Man!

https://www.politico.com/news/2020/04/24/trump-biden-china-debt-205475

#239 James on 04.24.20 at 10:34 am

#222 Penny Henny on 04.24.20 at 9:27 am

Breaking News*****
This just in. President Trump is recommending tanning booths as a way to kill the corona virus.
“I just think that it has worked for me and I have no germs or viruses. A nice tanning booth or maybe a few sunlamps would be good too.”
____________________________________________
Makes perfect sense to me. Trump is using a tanning booth and who knows what the hell he injects into his flabby body to keep him going.
What I am trying to say is DJ Trump looks and sounds like a normal human RIGHT? RIGHT? RIGHT?………………

#240 Sold Out on 04.24.20 at 10:40 am

#226 not 1st on 04.24.20 at 9:51 am
#215 James on 04.24.20 at 8:09 am
So the president says just inject disinfectant. Anybody here who’s sick and a Trump worshipper, just follow this excellent advice.
—–

Ha, Trump just loves trolling the clueless media. He is the master.

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

Maybe master of his domain, but not much else. His panel of expert a$$-kissers is being mercilessly roasted by actual experts, today.

https://www.theguardian.com/world/2020/apr/23/trump-coronavirus-treatment-disinfectant

#241 Bytor the Snow Dog on 04.24.20 at 10:44 am

#220 Bytor the Snow Dog

DELETED.
———————————————
Come on Garth that was a good one. You’re becoming a prude in your dotage. :-)

#242 Bytor the Snow Dog on 04.24.20 at 10:46 am

@235 not 1st-

That is exactly what Trump is doing. It’ll keep the Outrage Machine busy for a few days. And they fall for it hook line and sinker.

#243 Patty on 04.24.20 at 10:51 am

#216 crowdedelevatorfartz

“The ratings for “The Corpse” are still plummeting like a smelly turd in an empty outhouse.”

…..a smelly turd in an empty outhouse….

You mean, like you…?

#244 Burning Volcano on 04.24.20 at 10:54 am

http://www.bnnbloomberg.ca/we-need-you-quebec-begs-health-workers-who-are-staying-away-1.1426089

Deja ja SARS ? When our “health care professionals” called in sick when SARS hit it caused the biggest cluster of deaths. Is this what we’re seeing again?

Here’s the analogy. We train these people, subsidize their education, treat them like their special, and when they’re needed most, “ vacation days” get discovered.

And here’s the rubber in the road. We train soldiers, give them free training, they can do twenty years in service and nothing happens, but we pay and feed them anyway. But, when war breaks out, we expect them to be there and do their job.

Our health workers are our front line soldiers. We give them a good life normally, fat pay and great pension benefits. We expect them to be professionals overall. Doctors and nurses don’t get to cherry pick their patients, not if they expect us to keep coddling them .

These front line soldiers aren’t imported Nursing Home workers . This isn’t just not changing diapers. As ugly as the nursing home disasters have been, we need to demand better. If you came to Canada to care for seniors then the Herron disaster is a textbook case of gaming the immigration system.

IMHO, all these people who abandon the hospitals and patients during these times of greatest need should have their credentials and status taken away, permanently. Doctors, nurses, licensed administrators, all.

#245 Bytor the Snow Dog on 04.24.20 at 10:56 am

This M.D sums it all up perfectly:

https://thehill.com/opinion/healthcare/494034-the-data-are-in-stop-the-panic-and-end-the-total-isolation

End the lockdown.

(In b4 the discreditors).

#246 Sail Away on 04.24.20 at 10:57 am

#235 not 1st on 04.24.20 at 10:27 am

Anyone with kids knows what Trump goes through everyday in those pressers. The nagging media with the stupid gotcha questions and Trump stands there and takes it like a good dad.

Maybe he finally got sick of their BS and just decided to say something outrageous so the toddlers in the MSM would go run and play in traffic or something. I bet they will be writing stories for 3 days and now he can get back to MAGA. The snowflakes on twitter are frothing at the mouth today.

——————-

Yep. Pure trolling.

Like pretending to throw a stick for a dog but hiding it behind your back instead. They go for it EVERY SINGLE TIME.

Love it.

#247 Sail Away on 04.24.20 at 11:03 am

#234 IHCTD9 on 04.24.20 at 10:25 am
#196 Ronaldo on 04.24.20 at 12:41 am

Well my prediction has come true regarding the Cerb program. My son emailed me and said:

”So the cerb program is taking away the incentive to work. My one other employee is on it, and he’s having a great time out hunting, and has no bills cuz he lives with his dad who pays for everything. No rent, no food cost. I tried to get him to come to work today, and he was out of town hunting. No interest in working.”

Good luck Mr. Trudy in getting small businesses up and running again. This is an example of what is going to take place countrywide. Socialism at its finest.

——————–

Stay tuned for the shenanigans surrounding the 3 click business loans and 75% wage subsidy as they play out in the near future.

——————–

Got ’em both. Loads of cash in the bank now. It’s a bit like I imagine running a governmental department would be: we don’t care too much about efficient productivity since someone else is paying the bills.

Maybe I’ll have someone wash, wax and vacuum my Tesla today.

#248 Orange Man....Orange on 04.24.20 at 11:14 am

My wife and I love to tune into the Trump pressers and the watch Global’s take on it later that night.

Jackson Proskow is Global’s Jim Acosta. My wife often turns to me and say’s “How can they say that? We watched the presser live and that never happened!”

The Daily Pressers have devolved into a daily episode of South Park.

#249 BrianT on 04.24.20 at 11:15 am

#237James-it sounds like your main complaint about Trump is that he doesn’t turn you on-he is too flabby for you-like I said before-in Canada 2020 the women are women and so are half the men.

#250 crowdedelevatorfartz on 04.24.20 at 11:20 am

@#241 Cow Patty
“You mean, like you…?”
++++

I embrace my attributes, as should you.

#251 Incubus on 04.24.20 at 11:23 am

All of this for nothing :

“The recent Stanford University antibody study now estimates that the fatality rate if infected is likely 0.1 to 0.2 percent, a risk far lower than previous World Health Organization estimates that were 20 to 30 times higher and that motivated isolation policies. ”

https://www.zerohedge.com/health/data-stop-panic-end-total-isolation?

#252 Sail Away on 04.24.20 at 11:25 am

#237 James on 04.24.20 at 10:34 am

Trump is using a tanning booth and who knows what the hell he injects into his flabby body to keep him going.

——————

Really? Body shaming?

Be careful: the penalty for bullying is cutting off your CERB.

#253 El presidente clorex on 04.24.20 at 11:36 am

#244 Sail Away on 04.24.20 at 10:57 am
#235 not 1st on 04.24.20 at 10:27 am

Anyone with kids knows what Trump goes through everyday in those pressers. The nagging media with the stupid gotcha questions and Trump stands there and takes it like a good dad.

Maybe he finally got sick of their BS and just decided to say something outrageous so the toddlers in the MSM would go run and play in traffic or something. I bet they will be writing stories for 3 days and now he can get back to MAGA. The snowflakes on twitter are frothing at the mouth today.

——————-

Yep. Pure trolling.

Like pretending to throw a stick for a dog but hiding it behind your back instead. They go for it EVERY SINGLE TIME.

Love it.

….

Does trump disinfect his ass before you kiss it…..

#254 Sold Out on 04.24.20 at 11:37 am

Our health workers are our front line soldiers. We give them a good life normally, fat pay and great pension benefits. We expect them to be professionals overall. Doctors and nurses don’t get to cherry pick their patients, not if they expect us to keep coddling them .

These front line soldiers aren’t imported Nursing Home workers . This isn’t just not changing diapers. As ugly as the nursing home disasters have been, we need to demand better. If you came to Canada to care for seniors then the Herron disaster is a textbook case of gaming the immigration system.

IMHO, all these people who abandon the hospitals and patients during these times of greatest need should have their credentials and status taken away, permanently. Doctors, nurses, licensed administrators, all.

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

Yeah, it’s not that nursing homes hire too few staff to function optimally in non-pandemic times, never mind during a crisis of this type.

Nor is it because these employees are largely p/t and casual workers who have no set schedule, rather than full-time employees who have a contractual duty to report for scheduled work.

We can’t blame employers for having inadequate PPE to protect workers, but still expecting them to work in a confirmed outbreak setting.

It certainly has nothing to do with people not wanting to die, or kill a family member, for $19.28/hour (average PSW pay in Ontario).

Finally, I’m sure it isn’t the fault of the for-profit LTC system.

#255 Figure it Out on 04.24.20 at 11:49 am

That time when your Stable Genius leader says something so colossally stupid that it doesn’t compute, and your brain, desperate to come up with an explanation that fits your priors, blurts out “HAHAHA HE MUST BE JOKING!”

#256 crowdedelevatorfartz on 04.24.20 at 11:54 am

1 Billion dollars in $100 bills would fit on 10 forklift pallets 4ft wide by 4 ft deep by 4 feet high.

Basically enough to fill the back of an average dump truck.

Trudeau has promised to hand out 200 dump trucks full of $100 bills…….. so far.

Tax increases?
What tax increases?

#257 Figure it Out on 04.24.20 at 12:03 pm

Mama said Don’t hide Your Light Under a Bushel
Show the world you’ve got some class
But the President he said something different
Told me I should shove it up my ___

#258 Barb on 04.24.20 at 12:17 pm

“So the president says just inject disinfectant.”

———————————-

Never thought I’d see the mighty USA led by a man with a two-digit IQ.

#259 Penny Henny on 04.24.20 at 12:17 pm

I was just joking about the tanning booth stuff

#260 Tater on 04.24.20 at 12:20 pm

#149 renter on 04.23.20 at 8:52 pm
my landlord is looking for 12 more new cheques for the coming year as he’s run out, me and my wife have been out of work since mid march and on pogie,not looking like I’ll be back to work before June at the earliest and the wife later, I don’t want to screw the landlord and am willing to pay, can just about cover food and rent with the pogie. my question to the dogs and Garth is should i try and haggle the rent down and supply 12 months of new cheques or just hand over the cheques and wait and see if rents come down as predicted and move if we find something with more bang for our buck which will be in 2021 I guess.I actually feel for landlords at this time as they’re in the same boat as everybody else.
————————————————————–

If you’re in Ontario, your landlord can’t ask you for post dated cheques: https://ontariolandlordandtenantlaw.blogspot.com/2014/07/can-landlord-demand-post-dated-cheques.html

#261 BrianT on 04.24.20 at 12:41 pm

South Dakota somehow managed to avoid the globalist lockdown police state-9 deaths out of a population almost 900000-WAY better results than locked down Canada. Somehow this won’t be reported on the CBC or commented on by Boy Trudeau.

#262 G on 04.24.20 at 12:44 pm

Hi #1 TurnerNation,

Yes it looks foggy(fog or war). Whom with is the real question.

Have you seen any of the X22reports on youtube or on
bitchute.com? episode a shorter, b longer, c uncensored. (tinfoil for some). Also that Infowars AJ guy usually has info out earlier than the mass media I have found. He tells it as he see it. You can decide for yourself if it’s useful to you or not. We do not need FB and others telling use what we are allowed to see!
https://www.youtube.com/channel/UCB1o7_gbFp2PLsamWxFenBg
https://www.bitchute.com/channel/n78PbEkvWx2g/

Stay well.
I’m planning on being in the 80% of mild cases. Because of info found on the net, not the corporate media, Each day drinking a can of tonic water with 50mg zinc tablet, C, D3+K2, multivitamin, antioxidants, good sleep…Fingers crossed for a bit of extra luck.

I always hope to delay my death as long as possible,
but death is the great equalizer. Life comes with some risks. A bit of risk make life worth living. (Harming others and you get lock up.)

Driving in my car is one of the most dangerous thing I do regularly, statistically. Most people don’t even thing twice about getting in a car. Be careful of course.
For some life is longer, for some less so. 100 years ago some were lucking to just live beyond age five. Thankfully it has gotten much better since then for many. I wish everyone has a good long life of course.

I hope they work out treatments(some seem to be working) for CV soon, so we can get back to a more normal life. Yes this CCP virus is not just the flu, but some news lately, if correct indicates it might not be as bad as fist thought. Long term effects if any are not know, some have been suggested. Short term we have what some are calling house arrest. Short term I understand, but for much longer we kill the golden goose. And for what??
As we learn more about real numbers, effects of longer term lock down might actually kill more people.
Heard 30 million due to starvation alown.
We will see I guess.

Glade the medical system has so far been able to handle the very sick people, the lock down I’m sure helped keep the numbers lower, based on what we know about the virus at the start. As we learn more… The lock down was to keep the curve below the available medical services. Not to keep everyone form getting the virus, just minimize the deaths by slow the spread. Most people only have mild sickness if they feel anything at all!

The medcram Dr has so other good ideas to help your immune system get ready, see his past videos for more info. Like taking hot with cold showers.

His lastest one…
Coronavirus Pandemic Update 60: Hydroxychloroquine Update; NYC Data; How Widespread is COVID-19?
https://www.youtube.com/watch?v=fn2yk5SbGiw
see the comments too.
Here is one
‘Zinc Zinc Zinc
Plus Hydroxychloroquine plus Azithromcyn
Zinc Zinc Zinc
Early treatment is key!!!!’

That VA study that just came out did not give zinc with treatment. And did not have equally bad groups, so is not that informative. But make good head lines for some peoples agenda.

Medcrams explains how zinc can interfere with virus replication, slowing it down, giving your immune system more time to react.
Coronavirus Epidemic Update 34: US Cases Surge, Chloroquine & Zinc Treatment Combo, Italy Lockdown
https://www.youtube.com/watch?v=U7F1cnWup9M&t=296s

I’m off for a drive and then a walk in black bear country, the driving is the most dangerous part.
Have a nice day all. The lock down will eventually come to an end. Maybe sooner than you think, hopefully.

#263 ronh on 04.24.20 at 12:45 pm

(warning: conspiracy theory) X2

https://www.zerohedge.com/geopolitical/seven-step-path-pandemic-totalitarianism

https://www.zerohedge.com/health/debunking-hydroxychloroquine-controversy

#264 NoName on 04.24.20 at 12:46 pm

Interesting read, maybe this explains wirednes of yesterday…

https://bit.ly/2Y2WB9t

#265 Sail away on 04.24.20 at 12:59 pm

#251 El presidente clorex on 04.24.20 at 11:36 am
#244 Sail Away on 04.24.20 at 10:57 am

Yep. Pure trolling.

Like pretending to throw a stick for a dog but hiding it behind your back instead. They go for it EVERY SINGLE TIME.

Love it.

————-

Does trump disinfect his ass before you kiss it…..

————-

Fetch, boy!

#266 IHCTD9 on 04.24.20 at 1:01 pm

#245 Sail Away on 04.24.20 at 11:03 am
#234 IHCTD9 on 04.24.20 at 10:25 am
#196 Ronaldo on 04.24.20 at 12:41 am

Well my prediction has come true regarding the Cerb program. My son emailed me and said:

”So the cerb program is taking away the incentive to work. My one other employee is on it, and he’s having a great time out hunting, and has no bills cuz he lives with his dad who pays for everything. No rent, no food cost. I tried to get him to come to work today, and he was out of town hunting. No interest in working.”

Good luck Mr. Trudy in getting small businesses up and running again. This is an example of what is going to take place countrywide. Socialism at its finest.

——————–

Stay tuned for the shenanigans surrounding the 3 click business loans and 75% wage subsidy as they play out in the near future.

——————–

Got ’em both. Loads of cash in the bank now. It’s a bit like I imagine running a governmental department would be: we don’t care too much about efficient productivity since someone else is paying the bills.

Maybe I’ll have someone wash, wax and vacuum my Tesla today.
——-

What’s a guy gonna do? I knew Trudeau was going to be a horror show, so I didn’t vote for him. But my fellow Canucks wanted more free cash and social justice so he got in again.

A guy’s just gonna play the game. I stopped short of telling my eldest there was 8 grand waiting in the wings for him (he is unaware) for a 2 minute expenditure of his time.

Maybe I should make a deal with him. I give him some free highly beneficial information, my cut is 50% lol!

#267 Gwyneth Paltrow on 04.24.20 at 1:04 pm

Mr. President can I interest you in a Jade Egg or a coffee enema?

They will leave you feeling energized and refreshed and protect against CV-19.

#268 Attrition on 04.24.20 at 1:15 pm

The anti-Trumpers slithering out into the light, alongside their closet-Marxist allies, in the comments section here…

Y’all are devolving this wonderful little space on the Internet from a place where opposite but (almost) equally well-informed opinions clash, to a place where the loudest Bolshevik-niks shout down those they oppose while ignoring evidence and the truth.

Yes, you hate Trump, you get giddy when you think he messed up, and you’ll make endless noise about it hoping the media’s twisting of the truth will morph into fact.

We get it.

But read a transcript.

As you damn well know, Trump didn’t say anyone should drink any type of cleaner or disinfectant, nor did he say anyone should shine UV lights into their orifices.

Post lies and hate somewhere else.

This is the Thinking Person’s forum.

#269 Sold Out on 04.24.20 at 1:18 pm

#244 Sail Away on 04.24.20 at 10:57 am
#235 not 1st on 04.24.20 at 10:27 am
#247 BrianT on 04.24.20 at 11:15 am
#240 Bytor the Snow Dog on 04.24.20 at 10:46 am
#232 Orange Man….Orange on 04.24.20 at 10:17 am

I’m guessing that none of you make a living as a defence attorney. I’d hate to see your respective win/loss records if you did.

“Your Honor, my client was just sterilizing his optic nerves when he stared into the Sun during a solar eclipse. One cannot draw any conclusions regarding my client’s intelligence from an isolated act”.

“You must acquit my client. What have you got to lose?”

“One day, that bullet wound will just disappear. You can’t convict someone for an invisible wound”.

#270 MF on 04.24.20 at 1:26 pm

#259 BrianT on 04.24.20 at 12:41 pm

Wait, so now the globalists are the ones shutting down borders, stopping trade, and bringing back manufacturing?

MF

#271 meslippery on 04.24.20 at 1:31 pm

#76 Sail away

#66 Penny Henny on 04.23.20 at 5:10 pm

$20k for windows???

—————

Do I need to remind that this is not a window blog? Don’t be a pane. – Garth

—————

Hmmm… let me reflect on that. hopefully my thoughts will become more transparent.
———————-

Free upgrade to windows 10.
I,am using windows to access this blog so it is a window blog.

#272 Lefty on 04.24.20 at 1:31 pm

Curious what people here think will be first financial salvo fired to cover the daily billion dollar bailouts.. My bets (in descending order of likelyhood):

-GST (re-)increase
-CPP age (re-)increase
-federal inheritance tax starting at a certain $ amount (Germany does this)
-capital gains on primary residence
-TFSA max lifetime contribution limit

#273 NFN_NLN on 04.24.20 at 1:34 pm

Can Canadians use the Roxham road crossing to get into the US? Or does Trudeau have an order to shoot all escapes?

#274 Trump on 04.24.20 at 1:41 pm

Chewable cholex tablets available in 5 days

What do you have to lose ?

#275 Paul on 04.24.20 at 1:45 pm

258 Tater on 04.24.20 at 12:20 pm
#149 renter on 04.23.20 at 8:52 pm
my landlord is looking for 12 more new cheques for the coming year as he’s run out, me and my wife have been out of work since mid march and on pogie,not looking like I’ll be back to work before June at the earliest and the wife later, I don’t want to screw the landlord and am willing to pay, can just about cover food and rent with the pogie. my question to the dogs and Garth is should i try and haggle the rent down and supply 12 months of new cheques or just hand over the cheques and wait and see if rents come down as predicted and move if we find something with more bang for our buck which will be in 2021 I guess.I actually feel for landlords at this time as they’re in the same boat as everybody else.
————————————————————–

If you’re in Ontario, your landlord can’t ask you for post dated cheques: https://ontariolandlordandtenantlaw.blogspot.com/2014/07/can-landlord-demand-post-dated-cheques.html
————————————————————————————————

You should read your own link, The landlord can ask but not demand post dated cheque’s.

#276 WAKEUP on 04.24.20 at 1:48 pm

#180 WAKEUP indeed.
I guess time will tell.
I hope I’m wrong, but don’t think so.

Perhaps you can explain how a vaccine can be developed for a virus that has mutated up to 100 x ?

I’ll save you the time.
You can’t.
It’s an anti body crap shoot.

#277 INTERNAL DISINFECTANT on 04.24.20 at 2:01 pm

Food grade Hydrogen Peroxide can be administered
via intravenous, there are numerous clinics globally that offer the treatment, it kills a multitude of bacteria and virus.
Internal disinfectant.

Do not try this at home.

Don’t even write about it. – Garth

#278 Figure it Out on 04.24.20 at 2:02 pm

“But read a transcript.”

Mama said don’t you suffer fools gladly
or betimes, there’ll be hell to pay
Cheeto-head said get light into the body
Through the skin or “in some other way”

But it turns out that now it don’t matter
For the transcript is moot — use your noodle
Now he says he was being sarcastic
As confirmed by a spokes-Labradoodle

#279 El presidente clorex on 04.24.20 at 2:18 pm

#266 Attrition on 04.24.20 at 1:15 pm

The anti-Trumpers slithering out into the light, alongside their closet-Marxist allies, in the comments section here…

Y’all are devolving this wonderful little space on the Internet from a place where opposite but (almost) equally well-informed opinions clash, to a place where the loudest Bolshevik-niks shout down those they oppose while ignoring evidence and the truth.

Yes, you hate Trump, you get giddy when you think he messed up, and you’ll make endless noise about it hoping the media’s twisting of the truth will morph into fact.

We get it.

But read a transcript.

As you damn well know, Trump didn’t say anyone should drink any type of cleaner or disinfectant, nor did he say anyone should shine UV lights into their orifices.

Post lies and hate somewhere else.

This is the Thinking Person’s forum.

The trumpaholics are flowing in…. let’s not forget this recent gem…

Kiss the ring… ya hitched yerself to a clown

This is a very brilliant enemy. You know, it’s a brilliant enemy. They develop drugs like the antibiotics. You see it. Antibiotics used to solve every problem. Now one of the biggest problems the world has is the germ has gotten so brilliant that the antibiotic can’t keep up with it.

#280 BrianT on 04.24.20 at 2:33 pm

#268MF-IMO Trump is trying to do whatever he can to get reelected-again IMO he is getting bad advice and going way too far on this lockdown stuff especially trying to make it country wide-NYC and the surrounding area is a whole different ball game from the rest of the country. I am sure his advisors feel that because the MSM and the stupid sheep will blame Trump for every death he must be cautious but you can go too far the other way and again IMO Trump has gone too far already-enough is enough. As for the globalist comment his son in law Kushner is a big time globalist and a real problem for Trump-Trump should have never let his daughter and that crook anywhere near the White House. It is a big blind spot for the guy-nobody is perfect.

#281 Sold Out on 04.24.20 at 2:35 pm

I’m guessing the whole #inject disinfectant brouhaha was meant as a media squirrel to distract from this…

https://www.politico.com/news/2020/04/24/trump-biden-china-debt-205475

Oh, and all the Trump fan bois can stand down; he was just being sarcastic!

https://thehill.com/homenews/administration/494519-trump-says-remarks-about-heat-light-disinfectant-were-sarcastic?amp&__twitter_impression=true

#282 morrey on 04.24.20 at 3:19 pm

#231 Sail Away

Tax havens are going to disappear. Tax man in your country are going to get very diligent. Make yr money in one country and then try and hide off0-shore? Death Penalty COULD be a deterrent. Nationalism will bite yr head off

#283 Sail away on 04.24.20 at 3:39 pm

#280 morrey on 04.24.20 at 3:19 pm
#231 Sail Away

Tax havens are going to disappear. Tax man in your country are going to get very diligent. Make yr money in one country and then try and hide off0-shore? Death Penalty COULD be a deterrent. Nationalism will bite yr head off

—————-

You, my friend, are bananas.

#284 morrey on 04.24.20 at 11:07 pm

one mans bananas….
The True Cost of Hidden Money
By Jacques LeslieJune 15, 2014

Tax evaders exposed: why the super-rich are even richer than we thought

Analysis of a massive trove of data – much of it leaked from tax havens – suggests that inequality levels across the world should be revised upwards dramatically

The French Economist Who Helped Invent Elizabeth Warren’s Wealth Tax
By Benjamin Wallace-WellsOctober 19, 2019

Billionaires hurt economic growth and should be taxed out of existence, says bestselling French economist
PUBLISHED THU, SEP 12 2019

Like a pandemic to sharpen the focus.

We are all in this together !!

#285 T-Rev on 04.25.20 at 2:38 am

Where are all the lefties crying for Nordic (Read: Swedish) style of government now? Sweden has beaten this thing- deaths are on the downward trend. And they never closed down. They realized what the rest of us will in time: You’ve got a 50pct chance of getting it whether that’s today or next year. And you’ve got a 99.8 pct chance of living if you catch it. Meaning you’ve got a 99.9 pct chance of being juuuuust fine. Without the $0.4T of debt this is going to add to the public account fed and prov, or the untold personal economic toll on the population. Get it and get over it. We shouldn’t shut the economy for the sake of a few lives. That’s not the way nature works- you’re born, you take your shot, and at some point, your number gets called. The 0.1 pct you might die next month is what makes life worth living. So get on with it.

#286 Lookingup on 04.25.20 at 10:25 am

@285

I don’t think so….

From the Daily Mail

Sweden sees record number of coronavirus infections for second day in a row – 812 – after warning it may CLOSE bars and restaurants if people keep ignoring social distancing