Can’t wait

Normal is gone. At least until the autumn. Then you can get a haircut, jog through the park, grab a beer, see the dentist, buy shoes, pick a new iPhone, or (like me) visit the gym for a four-hour workout to tone up your glistening abs.

But some things will be odd for a long time. No Raptors or Flames games to watch in person. No Stampede or CNE. No Drake or Adele concerts (there is a God…). No packed airports plus emptied hotels and economic mayhem in places that depend on visitors or foreigners. (Tourism added $90 billion to the economy last year and employed 1.7 million people. Yikes.)

Real estate? Forever altered. No more open houses. Wary sellers. Predatory buyers. Thousands of realtors leaving the industry. Virtual appraisals. Less, tighter credit. Falling values in most places. Condo slaughter in others. (We’ve allowed real estate to become 24% of Canada’s entire economy. Ouch.)

As for government, the virus has also bent the future. Every day that T2 walks to a podium and pledges more billions (this week Ottawa announced it’s paying students not to work, and footing the bill for businesses that can’t honour leases – instead of letting them open and pay their own rent), things darken. The deficit will soar to $200 billion and beyond. It will expand the national debt by a third, adding a huge interest burden to federal finances. In turn, more taxes – on an economy with less activity.

So yesterday we mused about what this might mean. Deflation, this learned blog suggested, could be one outcome. The bond market is tilting that way. Lower prices, lower wages, less employment, business contraction (it’s now estimated 50% of all indie restaurants will never reopen), low rates, low growth, structural unemployment and a government desperate for tax revenue to keep the pogey spigot open, now that millions are supping.

Deflation is bad for real estate. Worse for debtors. Great for buyers with cash. Good for investors with liquid assets and cash flow. And, yes, it widens the wealth gap – since Canadian households have never been this indebted, and legions of them would struggle if deflation arrived. Incomes would fall along with the value of their one, big asset. So much for the strategy of selling a house to fund retirement.

But, wait.

Some people fear the opposite – a world of economic insanity in which government spends wildly, trying to inflate problems away, borrowing with abandon, destroying the value of the currency and creating a hyper-inflation to save real estate and wash away crippling debt. In this world cash is trash. Real assets rock.

And this brings us to Mike’s problem. His wife. And the above.

Garth, I’ve been following you since your time in Ottawa. Strange times. My wife and I are both physician (I’m front line) so took only a small Covid-related income  hit.

What keeps me up at night? We just completed the sale of our Vancouver home and are currently renting a beautiful estate home. We pay barely over twice the property taxes in rent. Dirt cheap. Luxury rentals have plummeted in the last couple of years. So while we have some diversified investments, we now sit on almost 2mil cash In part because of the house proceeds.

She grew up in Romania and lived through the 1989-90 hyperinflation there. She thinks our cash will inflate away in no time. While she loves our rental, she would like to get back into the housing market ASAP for fear of inflation. Problem is we can’t afford the house she wants because I don’t want a mortgage. I’m 45. I’m done with debt.

Am I being foolish here? How long would the deflationary period last before we get rapid inflation?  We’ll be in partial lockdown for many months to come. I don’t see business as usually for a while. Curious to get your thoughts in the timing of deflation/ inflation.

Well, Mike, she’s wrong. There’s no hyper-inflation in the cards – not with most businesses shut, seven million on the dole, corporate earnings whacked, oil prices in the ditch, planes not flying, empty highways and a long, dry stretch ahead before government even lets people feel normal. Our GDP is in freefall, exports have tumbled, hotels are closed and the border shut – and the pandemic has been with us for barely five weeks. Just imagine where we’ll be in a few months. Deflation may not come. But we are far closer to that end of the OMG scale.

Buy a Van house now?

Analyst Dane Eitel thinks you’re nuts. “Prices will be coming off with gusto in the upcoming months,” he says. “We anticipate the market to correct a total of 23% from the peak and down 16% from the latest data point. The ugly truth is the possibility of the market going even lower is tangible. An additional 28% decline from here is possoible.” Eitel says he fully expects detached prices to be $500,000 less than they are now. Seems deflationary to me.

So, Dr. Mike, buying a honking big doctor-appropriate house at this point would be a bad move. Stick with the rental, and let the current owner lick his wounds as equity slides. As for the two million, why would you not use the cash to invest in financial assets which have been beaten down? The ride back up over the next couple of years as the economy slowly re-opens will be fun (if volatile), and since most docs don’t have pensions and work through professional corporations, it’s important for you and that inflationary squeeze of yours to have significant personal assets. Rest assured Mr. Trudeau will be gunning for your PC again soon.

Will inflation ever return?

Sure it will. But this is not Romania. Here we just nibble and lick you to death.

 

228 comments ↓

#1 Jager on 04.24.20 at 2:55 pm

Trump Lysol/Bleach Reality Check

“At Thursday’s White House coronavirus taskforce briefing, the US president mused on new government research into how the virus reacts to different temperatures, climates and surfaces.”

i.e. One of the components studied was Sunlight and the UV rays that it contains. A natural disinfectant.

Trumps was not (obviously) advocating injecting (subdermal application) of Lysol or household bleach (Chlorox). It’s unsurprising however that socialist agitators in the media and the servile would draw that conclusion to spin their obsessed narrative.

Trump’s Uncle

President Trump’s uncle, John G. Trump, was a noted professor of Electrical Engineering at MIT.

“John Trump was noted for developing rotational radiation therapy. Together with Robert J. Van de Graaff, he developed one of the first million-volt X-ray generators. He was the paternal uncle of Donald Trump, …”

https://en.m.wikipedia.org/wiki/John_G._Trump

#2 Ed McNeil on 04.24.20 at 2:56 pm

It would seem we are about to re-enter the world of Charles Dickens. I see a new sort of Bob Cratchit and a more modern Tiny Tim. I believe that Ebeneezer Scrooge will remain much the same.

#3 Trojan House on 04.24.20 at 2:56 pm

Thanks for the positive post to start the weekend, lol!

#4 crowdedelevatorfartz on 04.24.20 at 3:00 pm

200 dump trucks with a billion dollars of $100 dollar bills in each……..and Trudeau at the back shovelling it out into the wind…..

Dog help us all.

#5 Dutchy on 04.24.20 at 3:03 pm

Deflation or inflation, that is the question.

But governments control the printing presses.

#6 Leftover on 04.24.20 at 3:04 pm

Pretty sure that Romania, like Argentina, printed money in relative isolation.

The good (?) news is that every major economy is printing money now, so hyper-inflation is a dead duck.

#7 Sold Out on 04.24.20 at 3:05 pm

Don’t do it, Mike. Grow that pile, and vultch in a few years.

I thought that one shouldn’t invest money that will be needed within a couple of years?

#8 Keith on 04.24.20 at 3:07 pm

Before the crisis, I went to a real estate investment seminar, a series of powerpoint presentations and speakers of varying entertainment value (I don’t recommend the tax specialists). One of the schills had a great screen with the line: Justin. You’re not tequila, stop trying to make everybody happy.

I give Trudeau a long leash, but I’m getting tired of his daily briefing where he dispenses largesse to any and all, like feeding a dog one Gainesburger a day. Parliament not sitting, no debate on the merits of these policies and cynically rolled out in some ways over the longest period of time. At this point you can’t blame anyone who has somehow been left out of the taxpayer funded feeding frenzy, even Jason Kenney is left saying give the oil patch more, it’s not enough. Giving yourself an infinite book of blank taxpayer funded check to hand out is not leadership, at some point it is pandering.

As for the orange peril down south, his game playing with the media has turned dangerous. Having created license to say the most stupid, arrogant and dangerous things only to deny them, walk them back or say the opposite he has promoted suntanning and disinfectant injection as therapies for the virus. He will reopen the economy speedily, and the death toll will not include much of the super wealthy cohort that he governs for. You would hope that after someone died from his hydroxychloroquine advice he would stop, but the giant ego can do no wrong and will not be silenced.

#9 Fasa on 04.24.20 at 3:11 pm

Lol, I told my wife we should stop T2 from stepping up to the podium because everyday more money/debt keeps flying out the door.

How oh how will this end I have no clue? What I do know is its going to be very hard to stop paying people (CERB) to go back to work when they have been accustomed to getting paid for doing nothing…god help us all!

#10 Carm on 04.24.20 at 3:14 pm

How are we calculating the death rate? only from confirmed cases? It’s reported that many have this and never realize it, shouldn’t we include this estimate in calculating the death rate? I think that’s what we do with the regular flu, we don’t test everyone who may have the regular flu.

#11 Marco on 04.24.20 at 3:20 pm

DELETED

#12 MA on 04.24.20 at 3:24 pm

This man is out of control. He just announced yesterday that he is contributing another 1.1 billion to vaccine research and development.

Who are the pharmaceutical companies getting the funding?
What oversight is there in place?
How do we know people in government aren’t getting massive kickbacks?
This public-private partnership is tongue in cheek for corruption.

Are these outrageous questions? It would be nice to see some debate in parliament or a so-called journalist ask him while he is pontificating on his podium everyday.

And this is on top of the day before where he announced 9 billion that he is giving to students. Many of these students are already collecting CERB and are now asking, “Can we also get the student benefit on top!”

Sad! There used to be a feeling of shame taking advantage of your fellow citizens (its their money you’re taking). Moral character is at a low point.
I am probably technically entitled to CERB, but I have no need for it, so I am not collecting it. I choose to actually work for my bones.

#13 Trojan House on 04.24.20 at 3:24 pm

#9 Fasa on 04.24.20 at 3:11 pm

“What I do know is its going to be very hard to stop paying people (CERB) to go back to work when they have been accustomed to getting paid for doing nothing…god help us all!”

There probably will be some of that but I think it will be mostly because they will too afraid to see their shadows…or other people.

#14 Sail away on 04.24.20 at 3:25 pm

T2 is totally in his element giving away money like water.

To prepare for the hammer falling, I’ve placed my family’s assets safely out of reach.

I’d recommend everyone do the same using out-of-country accounts. At least open one in the US, since US banks have $250k of deposit insurance and Canadian dollar will only continue to lose value against the USD.

TransferWise is great for exchanging cash at about 0.7% total fee. Much simpler than Norbert’s Gambit. It still makes sense to use Norbert’s for large amounts of $100k or more.

Just prepping.

#15 Devil Anse on 04.24.20 at 3:25 pm

I heard on the radio today the Quebec government is asking anyone who is available, regardless of qualifications, to work in a nursing home for $700 per week. Or, a person can take $500 per week from the Federal government to sit at home in their sweatpants all day.

Feds are also giving students $1,250 per month to sit at home and watch Netflix and chill. Quebec government giving an extra $100 per week (above minimum wage) for people to work on farms and do the labour Mexicans and Central Americans normally do. Various levels of government sucking and blowing simultaneously.

#16 ElGatoNerodeYVR on 04.24.20 at 3:31 pm

If you want a happy long marriage you set a 6 months target for buying and buy what makes the wife happy. It might not be logical but I lived as well through that particular hyperinflation and will never be caught without a home of my own, townhouse,sfh,duplex…just no condo . Mortgages are cheap and in the long term if you buy to live in it 10 years out purchase price is mostly irrelevant.

#17 Not So New Guy on 04.24.20 at 3:31 pm

They said comedy and irony were dead after 9/11. It didn’t take long for normal to come back once we leaped over the MIC’s bloodstained adventures

The ‘Death of Irony,’ and Its Many Reincarnations
An investigation into just who declared irony dead in the wake of 9/11/2001.

https://www.theatlantic.com/national/archive/2011/09/death-irony-and-its-many-reincarnations/338114/

You’ll be surprised to see who the winner is

#18 jerry on 04.24.20 at 3:31 pm

Government debt

Can government debt such as the vast amounts released by Trudeau, simply remain on the books forever as long as the interest rate to manage it is doable?

#19 Sydneysider on 04.24.20 at 3:33 pm

As part of an ongoing attempt to keep on top of reality, I found the surprise of the day among the BC death statistics.

In short, the number of deaths in March 2020 fell by ca. 700 (or ca. 20%) compared with what might be expected by extrapolation from previous months or previous years. This fall is both huge and unprecedented. I look forward to the April statistics with interest.

https://www2.gov.bc.ca/gov/content/life-events/statistics-reports/deaths

#20 Sold Out on 04.24.20 at 3:37 pm

#1 Jager on 04.24.20 at 2:55 pm
Trump Lysol/Bleach Reality Check

“At Thursday’s White House coronavirus taskforce briefing, the US president mused on new government research into how the virus reacts to different temperatures, climates and surfaces.”

i.e. One of the components studied was Sunlight and the UV rays that it contains. A natural disinfectant.

Trumps was not (obviously) advocating injecting (subdermal application) of Lysol or household bleach (Chlorox). It’s unsurprising however that socialist agitators in the media and the servile would draw that conclusion to spin their obsessed narrative.

Trump’s Uncle

President Trump’s uncle, John G. Trump, was a noted professor of Electrical Engineering at MIT.

“John Trump was noted for developing rotational radiation therapy. Together with Robert J. Van de Graaff, he developed one of the first million-volt X-ray generators. He was the paternal uncle of Donald Trump, …”

https://en.m.wikipedia.org/wiki/John_G._Trump

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

Do try to keep up with narrative du jour….

It was sarcasm, people, SARCASM…

https://www.nbcnews.com/politics/donald-trump/trump-says-he-was-being-sarcastic-comments-about-injecting-disinfectants-n1191991

It certainly had nothing to do with this…

https://www.theguardian.com/world/2020/apr/24/revealed-leader-group-peddling-bleach-cure-lobbied-trump-coronavirus

#21 Not So New Guy on 04.24.20 at 3:38 pm

Mr. Flop,

You’ve hinted at joint pain in my time here. I don’t know if you have full-fledged arthritis. What might help is bone broth. I posted a recipe to make it from scratch when I first came on the blog but you can also buy it in the can at the store.

I was reminded again of that when I came across this article. I go for chicken broth because it is lower in sodium in the can than the beef version. I hope it helps. I have been taking collagen powder for a long time but I think I’ll switch to the cheap kind since it probably does the same thing

https://draxe.com/nutrition/chicken-collagen/

#22 calgary rip off on 04.24.20 at 3:43 pm

This Mike guy isn’t going to win either way. If he buys in Vancouver, his wife will complain. If he doesn’t buy she will complain. This is normal female behavior of course denied by women. Part of the benefits of being married is dealing with emotional bs and nonsense of women. As a guy I would advise Mike to do what HE wants and ignore the woman. That way at least he will be happy regardless of what she thinks or feels. Consider her needs of course but tell her how it is going to be. Otherwise he will be stressed and she wont be happy either.

This post was edited. – Garth

#23 Linda on 04.24.20 at 3:46 pm

Keep renting Mike & if you do indeed have that much cash, maybe check in with Garth & Co to see what they can do for you.

As physicians you & your wife would probably be able to immigrate anywhere in the world you wanted to go. Recent posts have pointed out a number of highly unpleasant realities regarding our economy & the possible aftermath once or even if the pogey spigot is turned off. People with assets will be in the taxation crosshairs more than ever before, as those who haven’t demand the government take from those who have. Might be worth thinking of an exit strategy. Just saying.

#24 The West on 04.24.20 at 3:51 pm

T2 made reference to the affect of “there will be no universal income”

How do you plan to get anybody to go back to work after this? My employees have left my shuttered business and the government is paying them more than what I could get them from the private sector. (They are grossly uneducated and incompetent).

….does this really end well?

#25 Ustabe on 04.24.20 at 3:55 pm

#4 crowdedelevatorfartz on 04.24.20 at 3:00 pm

200 dump trucks with a billion dollars of $100 dollar bills in each……..and Trudeau at the back shovelling it out into the wind….

I was born just a few years after the end of WWII. In my lifetime I’ve watched many dump trucks shovel many trillions of dollars into things far less appealing (in regards to where the money is going) than this current episode. The US alone has waged expensive war almost uninterrupted…Korea, Viet Nam, Afghanistan, Iraq twice, never mind all the minor police actions.

Somehow all that gets paid for. Somehow we all carry on.

We should really be concerned about the important stuff…like is poor Andrew Scheer able to complete his renunciation of his US citizenship during these difficult times? Will he be able to obtain his Brokers certifications? How will his family be able to cope going forward? Will he team up with Harper and they become the Pinky and the Brain of the modern conservative movement?

In conclusion I have a tip. If you really need a hair cut just find a sex worker who used to be a hairdresser. They continue to do house calls and remember to tip well.

#26 YouKnowWho on 04.24.20 at 3:57 pm

I hope these aggressive By-Law officers enforce Poop-n-Scoop and Off-Leash violators as vigorously as they do those who dare get near each other or sit on a bench.

I mean, you leave $#!+ behind while I sat on a bench? Who really deserved that $880 ticket?

By the way, let’s get those Poop-n-Scoop and Off-Leash violations to same $880 fine level!

#27 John G. Trump, PhD on 04.24.20 at 4:04 pm

My nephew Donald is an idiot. E.E.I.D.I.O.T. Secretariat sired a lot of slow foals in his time, likewise not all of Frederick Trump’s descendants turned out to be the quickest. Donald has a certain gift for self-promotion, and a curiously hypnotic effect on rubes, bumpkins, chawbacons, and hoopleheads. But he’s an idiot. Also, he cheats at golf.

Respectfully,
John

#28 Sold Out on 04.24.20 at 4:04 pm

#22 calgary rip off on 04.24.20 at 3:43 pm
This Mike guy isn’t going to win either way. If he buys in Vancouver, his wife will complain. If he doesn’t buy she will complain. This is normal female behavior of course denied by women. Part of the benefits of being married is dealing with emotional bs and nonsense of women. As a guy I would advise Mike to do what HE wants and ignore the woman. That way at least he will be happy regardless of what she thinks or feels. Consider her needs of course but tell her how it is going to be. Otherwise he will be stressed and she wont be happy either.

This post was edited. – Garth

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

So, marry a dude; no one’s holding a gun to your head. (Unless you’re in the Halifax metro area, then it’s possible.)

Garth, what in the name of gun control is going on your new home province?

#29 James on 04.24.20 at 4:04 pm

#1 Jager on 04.24.20 at 2:55 pm

Trump Lysol/Bleach Reality Check

“At Thursday’s White House coronavirus taskforce briefing, the US president mused on new government research into how the virus reacts to different temperatures, climates and surfaces.”

i.e. One of the components studied was Sunlight and the UV rays that it contains. A natural disinfectant.

Trumps was not (obviously) advocating injecting (subdermal application) of Lysol or household bleach (Chlorox). It’s unsurprising however that socialist agitators in the media and the servile would draw that conclusion to spin their obsessed narrative.

Trump’s Uncle

President Trump’s uncle, John G. Trump, was a noted professor of Electrical Engineering at MIT.

“John Trump was noted for developing rotational radiation therapy. Together with Robert J. Van de Graaff, he developed one of the first million-volt X-ray generators. He was the paternal uncle of Donald Trump, …”

https://en.m.wikipedia.org/wiki/John_G._Trump
_________________________________________
So WTF happened to DJ Trump? He is a slick con man and great spinner as well as a narcissistic self absorbed uneducated twit. Don’t get me wrong he lucked out being born into wealth and privilege, the guy is sticking rich. However he really is not bright at all but simply he can deflect and spin until your dizzy. But he knows all the great words such as “really big” “very, very much” “a lot, a lot” “many, many, many” “we’ll see, we’ll see” “and of course “biggly”.

BTW: He still owes China a ton of cash personally! Spin it Orange Man!

#30 Dolce Vita on 04.24.20 at 4:07 pm

There is some hope in Canada.

SK opening, cautiously and good for them (a lot of TBD dates). Looking at CTV’s excellent “Tracking every case of COVID-19 in Canada” web site other Provinces that should be doing the same are: PEI, NB, Nfld & Labrador and MN. True, the economic GDP engines of ON, PQ, AB and BC are still down for the count (BC was doing great until 2 Black Swan events: returning BC oil workers from AB and the Poultry Plant – hopefully they get back on track after that).

Autumn most likely for GDP to start to resurrect, but some GDP better than no GDP I say.

———————————

Italia opening up with vigor May 4th and beyond. So much happening and too complex to write about (e.g., City of Milan has 17 pages on implementation, protocols).

HIGHLIGHTS incl. Phase I:

-April 14th, Phase I sent 3.8 MM workers back to their jobs on top of those in essential services, medical etc. R0 unaffected so this Phase got a pass.

THE “4 MONDAYS”…

-May 4th, just on that day alone, another 2.8 MM workers back to their jobs (mfg., textiles, construction, wholesale trade, laboratories, research facilities, staggered hours, spaced workstations, temperature monitoring…big list of protocols). 600,000 companies can reopen.

-May 4th Travel restrictions lifted but only within a Region (20 in Italy). On buses, metro, trains, planes there will be a limited number of passengers with the alternate use of seats. The new rules could foresee temperature measurement in the stations and, to avoid peak hours, differentiated tariffs in the different bands. On public transportation (as in all closed places) the mask will be used as in the workplace.

-May 11th Almost all retail trade open with protocols. For some shops (such as clothing and footwear) there will be an obligation to sanitize the products. Even hairdressers and beauty centers should have the go-ahead for the resumption of the activity: the one-to-one relationship (an operator and a customer) must be respected and all the tools must be sterilized. 115,000 retail outlets and 313 thousand jobs reopen. *

*Can finally get a darned haircut.

-May 18th Bars and Restaurants will be the last to reopen. It will start from the take-away service to return to normal activities afterwards and only being able to welcome customers in compliance with the minimum distance (for tables at least two meters). The capacity of the premises will have to be drastically revised downwards.

-May 25th??? Phase III, TOTAL reopening of the economy (e.g., cinema, theater, discos, concerts and other “aggregation activities”** where the risk of transmission of the virus is higher). **Serie A refugee here, hope that opens!

-Also Gov Italia starting a serological test on 200,000 citizens to gain a clear picture of the virus spread in Italia. And Gov Italia is going to “Shrink” its citizens about having been in lockdown for so long…DAY 47 today of lockdown, no details yet on test size and when.

———————————

Gov. Italia says with a caveat “If the R0 index starts to rise again, the program may slow down.”

R0 must remain < 1.0 in other words (currently, 0.5 to 0.7).

#31 JSquared on 04.24.20 at 4:08 pm

My how the tables have turned for renters in Van. Looking through Craigslist today at apt rentals, 1000’s of listings! It’s obvious most of them were AirBnB’s. We all know none of that revenue collected was ever reported to CRA. Too bad it left so many locals screwed trying to find decent, affordable housing. Sorry greedy entrepreneur landlords & renovictors, there’s a whole group of people out here thoroughly enjoying watching you now desperately twist in the wind.

#32 yyc_lurker on 04.24.20 at 4:14 pm

#18 calgary rip off
As a guy I would advise Mike to do what HE wants and ignore the woman.

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

tell us more about the “pretty” windows sales Ukrainian guy..

#33 Sail away on 04.24.20 at 4:16 pm

Sold Out:

Is it possible that a UK tabloid, which even Harry and Meghan refuse to associate with, may not be the most reliable and unbiased source of Trump news?

You’ve posted over a dozen links from this tabloid. It seems to be your most referenced backup.

Just a thought.

#34 YouKnowWho on 04.24.20 at 4:17 pm

Wondering…

Why is it right to let some house owning dude take a beating before you pounce as he chokes?

But…

Some guy who had the balls to bet $100k in hand sanitizer needs to be shamed? He took a risk and deserves the reward. I didn’t see anyone else spend their life savings on sanitizer.

Can someone explain to me the ethical difference?

#35 Yukon Elvis on 04.24.20 at 4:24 pm

#18 jerry on 04.24.20 at 3:31 pm
Government debt

Can government debt such as the vast amounts released by Trudeau, simply remain on the books forever as long as the interest rate to manage it is doable?
……………………….

It is not only doable Jerry, that is the plan. The long term plan.

#36 Figure it Out on 04.24.20 at 4:27 pm

“tell us more about the “pretty” windows sales Ukrainian guy..”

Don’t you remember? He ended up doing the caulking himself.

#37 Sold Out on 04.24.20 at 4:28 pm

#32 Sail away on 04.24.20 at 4:16 pm
Sold Out:

Is it possible that a UK tabloid, which even Harry and Meghan refuse to associate with, may not be the most reliable and unbiased source of Trump news?

You’ve posted over a dozen links from this tabloid. It seems to be your most referenced backup.

Just a thought.

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

Yeah, attack the source. The first complaint Trump lickers toss at people who laugh at Fox News.

Shouldn’t you be in Georgia, getting a tattoo and a haircut?

And when did Meghan and Harry become your standard of journalistic integrity?

#38 Oracle of Ottawa on 04.24.20 at 4:33 pm

If you go by the markets, which is forward looking, then we will have a bounce in the Fall. It’s already getting priced in. I will be buying index etf’s on the dips.

#39 Do we have all the facts on 04.24.20 at 4:44 pm

The Bank of Canada has indicated that they intend to purchase Canada Mortgage Bonds, provincial and municipal bonds, corporate bonds and perhaps other forms of collateral debt instruments to inject as much as $300 billion into the Canadian economy by January 2021.

This intervention could result in a scenario where as much as 45% of all Government of Canada debt would be held by our central bank on January 1, 2021. An estimated $200 billion of asset purchases proposed by the Bank of Canada would be in form of Canada Mortgage Bonds secured by residential mortgages that are fully insured by the Government of Canada.

Offering mortgagors of insured mortgages the option to defer monthly payments until the Covid 19 crisis ends begs the question of who is covering the revenue required to honour legal obligations attached to all Canada Mortgage Bonds?

In the event of default will the mortgagors of mortgages insured by the Government of Canada be on the hook to the Government of Canada until their total debt including accrued interest is paid in full.?

Inquiring minds would like to know.

#40 wallflower on 04.24.20 at 4:44 pm

#14 Sail away on 04.24.20 at 3:25 pm

pls explain how to use transferwise from a Canadian US dollar account
even Transferwise seems to think it is not possible …

#41 Coho on 04.24.20 at 4:51 pm

If we believe the truth of the situation fits the “official narrative” that C19 occurred naturally, or that the unthinkable happened and it was accidentally released from a biolab then it is reasonable to think that things will revert to normal by Autumn.

Let’s hope worse case that it was a disastrous failing of biolab security measures which eventually led to a global lockdown and resulting global recession/depression. Even so it seems an expected 20% to 30% drop in house prices is quite optimistic (low) considering the uncertainty of the economic fallout of C19.

Will confidence return to the point where an $800k house price tag be considered affordable in the context of lasting economic reverberations caused by C19 fiasco whereas a $1.1M house was considered unaffordable pre C19?

#42 Mr. Clean on 04.24.20 at 4:52 pm

#34 Sail away on 04.24.20 at 4:16 pm

Is it possible that a UK tabloid, which even Harry and Meghan refuse to associate with, may not be the most reliable and unbiased source of Trump news?

You’ve posted over a dozen links from this tabloid. It seems to be your most referenced backup.

Just a thought.

———————————————

Yeah, The Guardian, what a rag. Right up there with The Economist as a British bastion of low-life lies chock full of misinformation. Everyone knows that if there aren’t Page 3 girls, the journalistic integrity is just not there. And NBC — what a liberal outfit. It’s unconscionable how they target the dead-center of US viewership with those radical views. Oh and that insane-o, leftist zombie outfit the US Department of Justice. Full of lies:

https://www.justice.gov/opa/pr/justice-department-seeks-end-illegal-online-sale-industrial-bleach-marketed-miracle-treatment

Sail, you had better stick with your AM talk radio stars and for profit snake-oilers if you want the facts.

#43 Figure it Out on 04.24.20 at 4:55 pm

“Is it possible that a UK tabloid, which even Harry and Meghan refuse to associate with, may not be the most reliable and unbiased source of Trump news?”

Possible? Yes. But:
– the Guardian is not a UK tabloid, in the pejorative sense that the phrase is usually used
– and it isn’t one of the papers that the Harry formerly known as Prince has cut ties with, not that I’d care, much

It isn’t where I turn to for my US political news, but I wouldn’t consider it an unreliable source. Your mud is mistargeted.

#44 Ronaldo on 04.24.20 at 4:56 pm

#9 Fasa

How oh how will this end I have no clue? What I do know is its going to be very hard to stop paying people (CERB) to go back to work when they have been accustomed to getting paid for doing nothing…god help us all!
—————————————————————-
I don’t think even he/she will be able to help us out there. This is already being played out where people refusing work because the dole is paying better and they don’t have to do anything. This was a very stupid move on Trudy’s part. Free money and no conditions, what do you expect? Timmies is going to have a hard time opening back up. We havn’t heard the end of it.

#45 Adele on 04.24.20 at 4:59 pm

I haven’t toured for years, can I apply for CERB for loss of concert income?

However, Dolce Vita, there has been some great work done by Jonathan Kay on Super Spreader Events (SSE’s). The analysis supports the droplet theory with the added warning that activities that increase droplet projection (singing, shouting, breathing hard from physical exertion) need to be avoided.

tl/dr Avoid all sports events, fitness classes, choir performances and campaign rallies. You are safe at the symphony.

#46 Faron on 04.24.20 at 5:00 pm

#22 calgary rip off on 04.24.20 at 3:43 pm

“…bunch of misogynist garbage…”

Garth: “This post was edited.”

Ah, so nice of you to edit this one and still manage to allow a 1950’s era level of misogyny to bleed through. Congratulations on your noble accomplishment.

Racist comments were removed. The relationship comments are fine. I thought you were leaving us (please). – Garth

#47 Jager on 04.24.20 at 5:03 pm

#29 James on 04.24.20 at 4:04 pm

An old adage:
“You can’t rationalize with ideologues.”

Rage At The Machine

Our leaders are a product of the vote. Who votes? The individual.

As individuals most cannot overcome their second self (the subconcious). It rules our consciousness unless trained otherwise.

It’s erroneously believed that one can make a better world simply by supporting a given ideology whether by physical revolution, ballot box, etc.

Don’t Look Outward. Look Inward!

As individuals we fail to understand that to change the World we must first change ourselves. Each of us! But that’s far more difficult to manifest as it requires meticulous personal examination (aka soul searching- judge thyself first) which admittedly can be frightening and (temporarily) detrimental to our self importance.

However, what do any of us as individuals now have to lose at this stage of our present reality?
What better time as the old system is unravelling?

Do we really want a better world? If not for ourselves then for the sake of our children?

To change the world we must first start with ourselves. By doing so we will also change others…

#48 Dolce Vita on 04.24.20 at 5:03 pm

Even if Canada does add another 1/3 to national debt it will go from 90% of GDP to 120% of GDP. You know, Canada are not the only country in that boat. The rest of the Developed Nations are doing the same.

I mean look at baskecase Gov Italia now, at 135% of GDP – the reason I believe they are opening up the economy quickly…they do not have Canada’s piggy bank to pay everyone and everything during lockdown.

I would worry more about Household debt. Canada’s GDP based on 60% consumer spending. Household debt is at 102% of GDP…6 MM on the dole.

About the only thing good about Italia is that their Household Debt is 58%, at least Consumer Spending can resume and help GDP. It has always boggled my mind at how Italia can have such a thrifty citizenry and such a free spending Government…anyway.

Why I think Provinces that can should open as soon as they can. Again, some GDP better than no GDP.

I know Leger says everyone scared but I also think people would like to resume their work lives, civil liberties, as soon as is possible.

Not only that, the sooner, the better as many companies will not be around to rehire.

Gov Italia reckoned at the start of lockdown that if it persisted beyond July, fully 1/3 of ALL companies would fail. I can’t imagine that stat would be any different in Canada.

Why I keep harping Gov’s in Canada should calculate an R0. Let’s you know ahead of time when to plan opening an economy. Also a reassuring milestone for the citizens, alleviates fear, less gun shy to return to work when you know there are very, very few Mary Mallon’s out there.

#49 S on 04.24.20 at 5:04 pm

Where hyperinflation is sure as Gods wrath is in cost of labour. Hard to imagine people will willingly and readily return to work for what used to be an average salary when a typical family (two adults and a couple of kids that used to have a part time jobs last year) can sit at home while collecting $8000 a month. Waiting to see how JT walks that one back. Unless there is another plan, like this one: https://www.centuryinitiative.ca/

#50 Oakville Sucks on 04.24.20 at 5:05 pm

First hand/insider info from family resource…. people in the real estate industry here in the GTA are pulling their hair over how many people are trying to back out of closing a real estate deal! It’s mind blowing she says! Nothing anyone is reporting on yet.

#51 Penny Henny on 04.24.20 at 5:07 pm

*********Breaking News**********
President Trump is encouraged by scientists’ research studying the effects of sunlight’s ability to destroy the Corona Virus.

“I don’t see why it wouldn’t work. It works very well against vampires and those are some very bad hombres.”

#52 not 1st on 04.24.20 at 5:09 pm

Before Garth even finished his response, I bet Mike had an offer written up for a 4M dollar home.

Well Romania did flirt with Marxist communism and elected a dictator. Not that far off with T2 at the helm.

I would say hyperinflation would be much more preferable to whats coming for Canada.

#53 WUL on 04.24.20 at 5:11 pm

While scanning the websites of Stampedeless Calgary Marxist (in the minds of a few Blog Dawgs) news outlets, I saw, but did not pay much attention, to an ad “We’ll Buy Your House In Seven Days – No Commission, No Showings, No Renovations or Cleaning Necessary”. A Dry Gulch Vultch?

#54 Ronaldo on 04.24.20 at 5:13 pm

#20 Sold Out

It certainly had nothing to do with this…

https://www.theguardian.com/world/2020/apr/24/revealed-leader-group-peddling-bleach-cure-lobbied-trump-coronavirus
—————————————————————-
After watching this video what I see is a President who is not at all happy with his medical professionals and teh advice he is getting and is playing with their heads. Not unlike what he does so well with the press. I predict that when this is all said and done or even earlier there are a couple people who are going to hear, “your fired”.

#55 yorkville renter on 04.24.20 at 5:14 pm

For those who think Trump was being sarcastic, I wonder — how do you like the bridge he sold you?

Usually sarcasm requires a certain intonation of voice – Trump didn’t do that.

He’s a moron. Full stop.

#56 Linda on 04.24.20 at 5:18 pm

A number of commenters making an excellent point re: CERB etc. If people can be paid more to stay at home what incentive would they have to return to work? The obvious answer is to cut off the money & force them to make the choice of work or go without. CERB is supposed to remain in place for 4 months max. EI if applicable also has an end date. Once those dates arrive, cut off the funding. Highly doubt the government will do what needs to be done.

#57 not 1st on 04.24.20 at 5:24 pm

Canada is done Garth, when will that be your blog headline? You have called a RE crash or correction before but was that ever supposed to coincide with the destruction of every other industry at the same time? How do we climb out of this?

US lost a decade of jobs. Canada lost 34 yrs worth of jobs.

https://business.financialpost.com/news/economy/job-gains-since-the-late-1980s-in-canada-have-now-been-wiped-out-latest-cerb-data-suggests?video_autoplay=true

#58 Jay on 04.24.20 at 5:25 pm

In Calgary they are now threatening tickets for those who don’t social distance. Then they go and cancel everything until end of August, meaning no sports, no exercise or basically anything that is the least bit fun at all. Things like flying kites in open fields, playing tennis with someone you live with all now banned. don’t even ask about Golf, you might actually kill someone with that virus covered ball flying through the air infecting everyone.

Were already in prison, forced by the same bright politicians who, for the last decade have been pushing nothing but high density Condos, public spaces, coffee shops and fast food places without drive throughs, everything setup to be the opposite of socially distant.

Every day they now go an announce they are spending more of our tax dollars on some other pet project, to solve issues caused by their own policies. Just add the tag line “Worth it to save lives”. Assessment of risk? Future costs to society? What is that?

If you were in your 80’s or 90’s and someone asked you: Would you rather be locked down in your tiny apartment, never to see your family or associate with your friends for the next 12 months, just so you can possibly live another year or 2, or enjoy the days you know you have left while you have the chance, take your own precautions and risk the virus that kills less than half of one percent. What would you choose?

Why not give people the option? I thought we lived in a society where politicians represented us, not directed us. Apparently I was wrong.

#59 TurnerNation on 04.24.20 at 5:27 pm

Beside financial there is a whole other area of concern which was raised.
The abjection of Care by the government (if they ever did)

– You can no longer get most of the Hospital Care you might need and have paid for. Alberta doctors are quitting too.
– Dental care is unavailable to you. An infection there could kill or make your teeth rot. Too bad.
– An $800 ticket will be issued to you, they don’t care of your innocence or guilt.
– Courts? Closed. Your innocence of guilt is not of importance; no one cares. The system has a mind of its own.
– Prisoners are being released or not held. See above.
– The dignity of a haircut is not allowed, esp. for old people.
– Old people? Left alone to fend for themselves, your care is not welcome inside.

(It’s almost as if A.I. is running the show as some suggest. The curves, the performances, the nothingness news. All grabs our attention and diverts. Something is in place for each demographic)

This is totally malevolence, and collective punishment and most have not seen this and cannot yet compute. Enthralled are we with the numbers.

A double bind they have us in: No level of death is acceptable/ but no one is dying of anything else.

#60 truefacts on 04.24.20 at 5:33 pm

Sask has a plan to start opening up…step by step (5 steps)

https://regina.ctvnews.ca/first-phase-of-re-opening-sask-economy-to-begin-on-may-4-1.4908473

I hope we follow soon in Ontario (step by step)

Wanted to throw the football with my kids, but that is a crime now, so I can’t. Haven’t figured out how playing with your kids at a field creates risk, but I’m sure there’s some self-deputized busy body lurking about…wanting bylaw to swoop in to catch you! Thank goodness they are keeping us all safe from such dangers!

Can we not just have safety protocols for the vulnerable and get on with our lives – work, pay bills, play with our kids???

#61 Incubus on 04.24.20 at 5:34 pm

With $ 2 000 000 the couple can buy companies that give at least 5% or 6 % dividends, like banks and financial ( Power Corporation of Canada).

I would also buy Suncor and Imperial Oil Limited.

I would relocate in Nova Scotia or Prince Edward Island on a little farm or a little house.

With $1 500 000 invested the couple would get an annual income around $82 500 .

#62 Howard on 04.24.20 at 5:38 pm

#8 Keith on 04.24.20 at 3:07 pm

I give Trudeau a long leash, but I’m getting tired of his daily briefing where he dispenses largesse to any and all, like feeding a dog one Gainesburger a day. Parliament not sitting, no debate on the merits of these policies and cynically rolled out in some ways over the longest period of time.

———————————

And the most concerning aspect : this helicopter money is tossed like confetti with almost no oversight to prevent fraud.

I am not at all confident that the CRA will catch many CERB frauds. If they do, the perpetrators will claim ignorance and given a slap on the wrist at best. If their track record on this matches their track record on catching overseas money launderers, it’s safe to say everyone collecting the CERB is sitting pretty even if they don’t meet the stated criteria.

#63 Sold Out on 04.24.20 at 5:39 pm

#55 Ronaldo on 04.24.20 at 5:13 pm
#20 Sold Out

It certainly had nothing to do with this…

https://www.theguardian.com/world/2020/apr/24/revealed-leader-group-peddling-bleach-cure-lobbied-trump-coronavirus
—————————————————————-
After watching this video what I see is a President who is not at all happy with his medical professionals and teh advice he is getting and is playing with their heads. Not unlike what he does so well with the press. I predict that when this is all said and done or even earlier there are a couple people who are going to hear, “your fired”.

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

Interesting interpretation. What I see is a malignant narcissist who will have presided over more preventable deaths, in only four months, than all five Vietnam-era presidents did in two decades of hostilities.

#64 Sold Out on 04.24.20 at 5:41 pm

* preventable US deaths*

#65 Penny Henny on 04.24.20 at 5:42 pm

Re Garth’s comment that up to 50% of indie restaurants may not re-open.
Can you blame them, let’s say they re-open and 4 months later the Gov says they have to close again because of a second wave.
[email protected]!llshit.

Instead of having the country shut down why not take care of the most vulnerable. And instead of giving everyone money for nothing provide PSW’s to those who are in need and let the rest of the country go back to work!!

#66 akashic record on 04.24.20 at 5:43 pm

The fact, that even in this unprecedented worldwide lock-down life goes on, as it is, largely due to technologies deployed in the past 20 years.

These technologies allowed the accumulation of large inventories and online access and distribution for this inventory. It allows most services, banking, investing, education, government, entertainment to continue, without unimaginable number of people staying at home.

Technology has enabled to run the most crucial operation of economy, society with only a skeleton crew of humans continuing to work for months, as they used to, before the pandemic.

It shows how much of the traditional human workforce presence at the workplaces is actually based on just old habits, instead of essential need.

This pandemic is an eye-opener, that will give an increased, huge push for automation, robotics, remote-controlled processes for all the critical industries that are needed to continue life.

The underlying technology fundamentals are all there, all it needed was the demonstration at this scale how effective they are, and how drastically economic activity, and the role of human labour in particular, can be changed.

The future is long on technology, short on labour.

This is actually good, considering that most of the enormous virus-debt is related to labour. The more this labour is taken out of the essential economy, the less the next pandemics will cripple the world, the same way as now.

Technology is extremely deflationary, and what technology can do, will be exploding in the next two decades.

Automated, networked, but localized production, services, with drastically reduced, deflationary cost/price, substantially reduced labour participation is the basic framework that we need to consider when thinking of how to be prepared best for the future.

The transition will most likely be fairly chaotic, it may include a period of hyper-inflation as the economy and society removes more and more people from active participation in the truly essential economy that provides for survival.

#67 Mark Moretti on 04.24.20 at 5:53 pm

Why all this doom and gloom? Remember, Mr. Market is “forward thinking” and it’s up up up!

#68 Reality is stark on 04.24.20 at 5:53 pm

All this crazy hyperinflation nonsense.
Why are people backing out of real estate deals if they are anticipating hyperinflation?
Give your heads a shake.
If you lose $500,000 on your $900,000 house in Toronto or Vancouver that’s life. Don’t buy stuff when prices are high.
Toronto real estate prices have been rising since 1995. A 25 year run. If you paid $900,000 you should be prepared to lose half.
Are you really expecting the government to bail you out of another bad decision?
Who roped you into the house purchase?
Ask yourself that question.
Perhaps that was your first mistake.
Work backwards from there.

#69 Sail away on 04.24.20 at 5:57 pm

#41 wallflower on 04.24.20 at 4:44 pm
#14 Sail away on 04.24.20 at 3:25 pm

pls explain how to use transferwise from a Canadian US dollar account

even Transferwise seems to think it is not possible …

—————

Why would you transfer from a Canadian USD account? If it’s already in USD, you can just wire it directly to a US account without TransferWise. You won’t be able to transfer from registered accounts, if that’s what you’re wondering.

I’m unclear as to the issue…

#70 Slim on 04.24.20 at 5:58 pm

Even Trump’s friends at Faux News should be able to see by now that he’s not playing with a full deck.

#71 Camille on 04.24.20 at 5:59 pm

So pessimistic. Saskatchewan is opening up. Other provincial plans coming in next weeks. Germany (big) opening up. France plan revealed next week. Too many to list. 1 in 5 New Yorkers maybe already exposed. Herd immunity back for discussion (Quebec). And on and on and on….
Mom is Queen’s age. Says everybody is losing something in this virus. Wise, wise, wise.
Don’t feel much for the doctor. Met a baker who lost hours, still working, reduced pay, 75% goes to rent.
But it’s a good blog, and Garth is whole. Though with a diversified portfolio, he would have needed 100% stocks to do it!

#72 Jager on 04.24.20 at 5:59 pm

#14 Sail away on 04.24.20 at 3:25 pm

I wouldn’t disagree. I’m hearing some frightening things but so far count them as rumours from the shadows.

You may also know about the US dollar play that’s anticipated by some. See Raoul Pal’s twitter for peek in his GMI.

Incrediblbly (or not) Crypto now coming from everywhere. Government (Fedbit), Amazon, Facebook, Google etc. This will either strengthen (enormously) or weaken existing digital e.g. BTC, Ethereum etc.

I’m sure you see where this is all going…

#73 Idiocy on 04.24.20 at 6:00 pm

Does it not make you wonder why in Canada;

1) Costco, Loblaws, and other large food sellers are allowed to be open while small businesses that provide the same service are shut?

2) No researchable / useable database on CV 19 deaths, infections and recoveries exists /is available to provide data for modelling by the medical community?

3) No real plan has ever been elucidated /enacted by Health Canada or the Liberal government?

4) Many hospitals appear empty of CV 19 sufferors?

5) There is limited widespread testing and getting a test is difficult?

6) The Liberal government tried to usurp Parliament by trying to pass legislation that would give them essentially free reign to spend and tax for 22 months without debate / vote in Parliament?

7) The MSM are saturating media with CV 19 stories 24 /7 ?

Look around you and you will find many more LOGICAL irregularities to add to the above list.

Wake up Canadians !

This is either;

1) hysterical over reaction, and / or;
2) gross incompetence by elected and non elected societal leaders, and / or;
3) someone has a political / social engineering agenda.

Probably a horrible and debilitating combination of all three.

Pretty obvious to anyone with critical thinking abilities , which would exclude perhaps the majority of Canadians.

#74 Gino on 04.24.20 at 6:01 pm

Real estate isn’t counted in inflation otherwise we’d have inflation through the roofs! Why would it count in deflation. Expect deflation but house prices will stay the same.

#75 Marco on 04.24.20 at 6:06 pm

#53 not 1st on 04.24.20 at 5:09 pm
Before Garth even finished his response, I bet Mike had an offer written up for a 4M dollar home.

Well Romania did flirt with Marxist communism and elected a dictator. Not that far off with T2 at the helm.

I would say hyperinflation would be much more preferable to whats coming for Canada.
———————————————————-
Well, to compare Hon Justin Trudeau with Romanian evil peasant Ceausescu is possible just in imagination of sick. Pure disgust.

#76 Carpe Diem on 04.24.20 at 6:08 pm

All these words matter not.

For the first time in our lives, we are not free.

If we want to pack up and go make more cash in the States or elsewhere.

We can’t.

We are now confined and controlled.

Agenda 21 is in progress.

#77 Sail away on 04.24.20 at 6:09 pm

#38 Sold Out on 04.24.20 at 4:28 pm

Shouldn’t you be in Georgia, getting a tattoo and a haircut?

—————

Been there, done that.

Boot camp haircut, Gulf war, then later ranger tab and airborne wings all at Ft. Benning, Georgia. And sergeant’s stripes.

Separated after 6 years for my next incarnation as an engineer.

Loved the army, but it was a bit too peripatetic.

#78 Carlyle on 04.24.20 at 6:10 pm

#38 Sold Out on 04.24.20 at 4:28 pm

Yeah, attack the source. The first complaint Trump lickers toss at people who laugh at Fox News.

Shouldn’t you be in Georgia, getting a tattoo and a haircut?

And when did Meghan and Harry become your standard of journalistic integrity?

————-

Man, what is it with NPC’s and their ridiculous TDS? The interesting thing to note is that folks on the right may not agree with progressives but for the most part are ok with anyone and everyone stating their piece.

The craziest of TDS Sufferers, on the other hand inevitably resort to ad hominem character attacks to anybody right of Stalin.

Trump licker, like really? Is it really necessary to resort to personal insults just because you hate Trump?

#79 BrianT on 04.24.20 at 6:11 pm

Stay indoors-STAY AFRAID-do not question authority-stay away from sunlight-all large parks and nature trails are infested with the virus-DO NOT LEAVE THE BASEMENT-this public service message was brought to you from Sheep TV.

#80 Sail away on 04.24.20 at 6:12 pm

Anyway, it was just about a full office at work today. We have contracts and work to do, so off to the races. Full bore ahead.

#81 Yukon Elvis on 04.24.20 at 6:12 pm

#40 Do we have all the facts on 04.24.20 at 4:44 pm
The Bank of Canada has indicated that they intend to purchase Canada Mortgage Bonds, provincial and municipal bonds, corporate bonds and perhaps other forms of collateral debt instruments to inject as much as $300 billion into the Canadian economy by January 2021.

This intervention could result in a scenario where as much as 45% of all Government of Canada debt would be held by our central bank on January 1, 2021. An estimated $200 billion of asset purchases proposed by the Bank of Canada would be in form of Canada Mortgage Bonds secured by residential mortgages that are fully insured by the Government of Canada.

Offering mortgagors of insured mortgages the option to defer monthly payments until the Covid 19 crisis ends begs the question of who is covering the revenue required to honour legal obligations attached to all Canada Mortgage Bonds?

In the event of default will the mortgagors of mortgages insured by the Government of Canada be on the hook to the Government of Canada until their total debt including accrued interest is paid in full.?

Inquiring minds would like to know.
…………………………….

When does CMHC insurance kick in ? That’s what I wanna know. Why are people even paying it ?

#82 Trojan House on 04.24.20 at 6:13 pm

Can employees refuse to go back to work if they’re earning more on CERB? Nope…

https://business.financialpost.com/executive/careers/howard-levitt-can-employees-refuse-to-return-to-work-now-theyre-earning-more-on-cerb

Also, I bet most people don’t know that a layoff is actually constructive dismissal regardless of the pandemic – “economic difficulty is not a legal cause for discharge.” Very interesting of course. Imagine millions suing for this at the same time!

#83 Bezengy on 04.24.20 at 6:17 pm

Drake isn’t busy? Maybe he can help a fellow rapper out as I’m suffering from writer’s block. I need a third verse, but all of mine seem too negative, and I’m looking for a hit with the younger SJW crowd.

He comes down like Moses from the Mountains
Spreading money around like water from a fountain
It’s 11 AM , cuckoo, cuckoo, its his hour
Sunny ways are over, no more budding of the flower

Turn on the news, their part of his team
100 billion dollars ensures things aren’t quite as they seem
Don’t agree with him, and its a forced defection
Because pretty soon there’ll be another election

Drake, are you out there?

#84 Damifino on 04.24.20 at 6:19 pm

Hey! Today, for the second time since April 17 the S&P 500 moved above the 50 day moving average. It’s now only 172 points below the 200 day moving average.

Just though you might like to know. I hope we avoid a W-shaped recovery. That would be nice.

#85 BrianT on 04.24.20 at 6:21 pm

#58Jay-it is complicated- the overwhelming majority of the population is so terrified and cowardly they will submit to any abuse-no matter how degrading. These terrified cowards see YOU as the enemy, not their abusers. It is classic Stockholm Syndrome.

#86 Faron on 04.24.20 at 6:27 pm

#47 Faron on 04.24.20 at 5:00 pm

Racist comments were removed. The relationship comments are fine. I thought you were leaving us (please). – Garth

As an explanation, your blog is mostly excellent, sometimes frustrating and at the very least a well-written and humorous analysis of this slowly evolving train wreck we are all a part of. It also has been prescient thus far and has helped guide me to giving up on my dodgy day trading of late, balance the ETFs and scramble my online brokerage password to keep my greed/fears out of it. I don’t believe in black magic, but that’s what the majority of investing “analysis” seems to be based on aside from sites like yours.

Steerage, in my opinion, is mostly a conservative dumpster fire — gross but hard to peel one’s eyes off of. Kind of like the orange man himself. It’s maddening because I know the internet trolls are a minority of the overall population, but their clanging noise and strangely submissive and subjugant devotion to far right talking points is hard to not attack. But, I guess that is their purpose.

I am a dual citizen among the US and Canada currently living in Victoria. I was glad to see Harper go and Trudeau get in, but have been dismayed by Trudeau’s leadership. In the US, watching the rise of white nationalism and utter republican obstinance or, more neutrally, the growing urge of members of both parties to ignore the needs of constituents in favour of political gain and tactics has been truly dispiriting. The right is now using the radical right among those tactics to push against the left (see Mitch McConnells agenda and capitulation to trump). In Trump they have a bully who is a buffoon that no one will or even, it seems, can stand up to. Everyone in the government of any party who is being honest with themselves know he’s a fool, but no one will do anything about it because they are afraid of the populist minority who has enough power to sway the vote. I fear that this approach will take hold here and fear that the comments here reflect an upsurge of that kind of thinking in Canada. I only hope that the better education and better standard of living (maybe until now…) keeps it at bay.

Anyhow, It surprises me that someone who was a political achiever and who dabbled in industry geared toward preparing for climate change and even considered joining the Green Party muddles in this company. But, we all gots hobbies I guess.

You may ban me/my IP or not. Post this or not. But that’s where I’m coming from.

#87 crowdedelevatorfartz on 04.24.20 at 6:35 pm

Just curious.
After seeing and listening to Trump’s latest bizarre ramblings…

How does one get a mentally suspect President out of office?

#88 jack on 04.24.20 at 6:38 pm

Re #10 Carm on 04.24.20 at 3:14 pm

The death rate equals death by covid divided by confirmed cases of covid. As the number of confirmed covid cases are a fraction of actual cases the death rate is much lower than stated. My bet is 0.3 percent. Look up Iceland’s randomized sample testing.

#89 Idiocy on 04.24.20 at 6:39 pm

to comment # 49 Dolce Vita

Stick to whatever you do and don’t opine on things like sustainable debt / gdp ratios.

To wit;

https://www.investopedia.com/terms/d/debtgdpratio.asp

#90 Long-Time Lurker on 04.24.20 at 6:42 pm

>Lessons not learned:

China coronavirus: The lessons learned from the Sars outbreak
By Kelly-Leigh Cooper
BBC News
24 January 2020

In March 2003 it became clear a mysterious and previously unknown disease was starting to spread around the world.

Severe Acute Respiratory Syndrome (Sars) went on to infect more than 8,000 people and kill almost 800. Many of those it infected, including doctors, went from having flu-like symptoms to severe pneumonia within days.

The virus spread to 26 countries and China was criticised by the UN’s global health body for concealing the scale of the outbreak.

Now, 17 years later, the spread of a new deadly coronavirus is reviving memories of Sars and putting global scrutiny back on to the Chinese government…

Lesson one: Work with other countries.
…Investigations later showed the first infections appeared in Guangdong Province in November 2002, but it took months for the scale of China’s Sars crisis to be exposed. Physician Jiang Yanyong alerted the international media in April that the Chinese government was drastically understating the Sars threat…

Lesson two: Don’t cover it up
The lack of transparency over Sars hurt China’s standing on the international stage and caused its economic growth to slow…

…Health experts, including Prof Heymann, stress transparency as a key factor in preventing the spread of viruses, especially unknown ones. Once proper control measures and infection prevention were implemented, Sars was contained within months…

…However, the Chinese government has strengthened its control over the flow of information since the time of Sars. Some international scientists have estimated the true number of people impacted by the new coronavirus (Wuhan-400) is far higher than has been publicly confirmed…

…Lesson three: Improve medical response…

https://www.bbc.com/news/world-asia-china-51221394

>Lesson-Not-Learned-Number-Four: Never trust a communist. Tsk, tsk, tsk.

#91 Sold Out on 04.24.20 at 6:44 pm

Hmm,Trump did not seem anxious to dazzle the WH press corps with his towering intellect after today’s presser.

Perhaps it has something to do with the inability of his flying monkeys to keep all the lies straight.

https://www.nbcnews.com/politics/donald-trump/dr-birx-goes-viral-reaction-trump-s-injection-comments-n1191841

How long before #Kellyanne is trending again?

#92 Nonplused on 04.24.20 at 6:47 pm

And to think this all could have been prevented if everyone had a couple boxes of N95 masks and a big bottle of hand sanitizer on hand when this started. Or maybe. It might have helped anyway.

Many people have declared that the pandemic is a “black swan”, but even Nicholas Taleb say this is not so. Pandemics have been with us forever. They are “white swans”. But I fear a black swan is on its way. Now that Mr. Turdeau is on his way to bailing out students and small business leaseholders the money printing is going to be epic. Well, it already is but where do the bailouts stop? I’m sure we’ll see lots more coming in the weeks ahead. I cannot see how this goes on for months without changing the very definition of money.

Money, in essence, is a measurement. It is more similar to an inch than anything else. In the same way that inches can be used to measure the comparative size of things money is used to measure the comparative value of things. But there is a major difference in that the amount of money in circulation has to be kept proportional to the value of the goods and services being transacted. You can’t increase the value of goods and services being transacted by making the dollar smaller any more than you can increase the size of a 2×4 by making the inch smaller.

Thus, I expect to see high inflation if and when the economy does recover. All these new dollars will have to go somewhere. For now, it is deflation that is in the cards because the new dollars aren’t going anywhere, everyone is at home watching Netflix. How long the deflation will last I do not know, that depends largely on how long the economy remains damaged by the virus and how long it takes to restart, and if a complete restart is even possible. We may have damaged it beyond repair already, but that is speculative.

So I see deflation ahead, followed by a massive 80’s style inflation if the economy comes roaring back to life. The fact is that is the only way there is to make all the debt out there serviceable. Higher taxes won’t do it because we are already at peak taxation. There isn’t anything left to tax. Dr. Mike is already paying 50% plus HST, carbon taxes, and a myriad of other taxes, so any increases in his taxes must come out of other spending, which doesn’t increase the economy it contracts it.

So, deflation now, inflation later. It is the only way forward I can see at this point.

#93 fishman on 04.24.20 at 6:48 pm

I’m calling stagflation. Trouble is combinations & permutations are exponential after only a few turns of the wheel. Too hard to call winners. Thats why its a good idea to work within Garth’s strategic parameters. Adjust to your localized & individual circumstances. I don’t believe much in financial assets. I’m a 5G portfolio kind of guy. Garth’s mantra in my brain. Diversifying & Rebalance, no bets on an inside straight, don’t try to beat the house. I’m not a bullion licker, I’m a swallower. Thus, I’ve been selling. Even though I love gold & know its going uppa uppa uppa. Take your profit, whether its a house or gold or whatever. I’ve got a monthly nut that most of you bloggies would choke on. Thats what the cash is for now. Stay away from debt. That & now lil potato’s got everyone wired to free money: whiskey for the horses : cash for the men.
The only investments I’m making is in materials. Gear, machinery,spare parts, industrial kind of stuff. Starting see shortages & long delivery times. Maybe a**holes like me are starting to hoard. Suppliers are saying supply chains are in disarray. Who to believe? Who knows?. Just that getting caught short restricts options. Adds time. Eats cash. Hang in there bloggie doggies.

#94 Asterix1 on 04.24.20 at 6:51 pm

Predatory buyers?

It’s more like Predatory sellers in GTA/Vancouver for the past decade!

Nothing predatory about paying less for these overpriced places. Term will disappear as prices keep falling (then stall) for the next few years.

#95 DON on 04.24.20 at 6:52 pm

#57 not 1st on 04.24.20 at 5:24 pm

Canada is done Garth, when will that be your blog headline? You have called a RE crash or correction before but was that ever supposed to coincide with the destruction of every other industry at the same time? How do we climb out of this?

US lost a decade of jobs. Canada lost 34 yrs worth of jobs.

https://business.financialpost.com/news/economy/job-gains-since-the-late-1980s-in-canada-have-now-been-wiped-out-latest-cerb-data-suggests?video_autoplay=true
*****************

But why talk in extremes. Not all of those jobs are lost. Most should come back. If you have to where a mask for a while that’s the reality but we can get back to a new normal.

The debt saturation pre-virus was huge. Even if the virus didn’t come along the brick wall (end of a business cycle) was well on it’s way. Yes not job loss to this degree, but job loss and pain nonetheless.

Where I live in BC the roads are getting busy on the way to work, people are social distancing and the main stores I need are open I just have to wait a bit longer. Maybe just the normal debt froth is being blown of the top.

I see people out jogging (lots of early morning joggers), gardening and taking a much needed break from life in general. Might as well make the best of a situation. Gas is cheaper, I am driving a lot more.

#96 Juve101 on 04.24.20 at 6:56 pm

Five years from now no one will remember these times. The rat race will resume full tilt.
As to whether we’re headed into an inflationary or deflationary environment, I humbly submit everybody’s guess is as good as that of the venerable Garth, despite his wisdom and years.

#97 Mark Moretti on 04.24.20 at 6:58 pm

Quick, delete this! And make no mention of it.

#98 Oakville Rocks! on 04.24.20 at 6:58 pm

#51 What are you babbling on about today?

The Globe and Mail has discussed the consequences of backing out of a real estate deals due to Corona virus at length recently.

Here:
https://www.theglobeandmail.com/real-estate/toronto/article-for-home-buyers-backing-out-during-covid-19-crisis-is-not-an-option/

Here:
https://www.theglobeandmail.com/real-estate/toronto/article-coronavirus-crisis-turning-off-the-toronto-real-estate-tap/

Cheer up dude, maybe move to Mimico.

#27 Lovely roast of Trump. Hilarious

#55 What I see when I watch this video is a professional, the doctor, who is mortified by what she is hearing but is afraid to correct Trump. She looks like she would rather be anywhere but there – firing would probably be a blessing for her. If this is Trump being sarcastic then every thing he says is sarcasm because I see Trump being Trump, assuming he is smarter than everyone else.

#99 Friedman’s Ghost on 04.24.20 at 7:02 pm

#58 – Jay

Well said. The very reason behind the second amendment. A law created before assault rifles were invented. Unfortunately, we live in a time of more laws but not smarter laws.

-MFG

#100 Idiocy on 04.24.20 at 7:03 pm

The BOC will be buying mortgages (CMHC insured or not) from the Cdn banks to provide them with “emergency liquidity” as their negligently under reserved loan books become “stressed”.

In other words, the government of Canada will hold your mortgage.

Just another milepost on Canada’s road to socialist serfdom.

#101 50 YEARS OF MAPLE LEAF INCOMPETENCE! on 04.24.20 at 7:04 pm

This new normal is AWESOME!

50 DAYS WITHOUT A LOSS!!!

THE MAKE BELIEVES AND TORONTO RULE!!

And stunt driving by Toronturds and GTAHoles is only up by 550%!!

https://torontosun.com/news/local-news/gta-cops-see-major-spike-in-stunt-driving-amid-covid-19

#102 Trojan House on 04.24.20 at 7:14 pm

The WHO wants to take away your alcohol during the pandemic:

http://www.euro.who.int/en/health-topics/disease-prevention/alcohol-use/news/news/2020/04/alcohol-does-not-protect-against-covid-19-access-should-be-restricted-during-lockdown

#103 Flop... on 04.24.20 at 7:14 pm

#21 Not So New Guy on 04.24.20 at 3:38 pm
Mr. Flop,

You’ve hinted at joint pain in my time here. I don’t know if you have full-fledged arthritis. What might help is bone broth. I posted a recipe to make it from scratch when I first came on the blog but you can also buy it in the can at the store.

I was reminded again of that when I came across this article. I go for chicken broth because it is lower in sodium in the can than the beef version. I hope it helps. I have been taking collagen powder for a long time but I think I’ll switch to the cheap kind since it probably does the same thing

https://draxe.com/nutrition/chicken-collagen/

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

Hey brother, yes I’m 45 going on 65

Got a lot of things going on including arthritis.

Have currently got 12 screws and a plate holding my ankle together, am on the waiting list to get 8 of these screws out, then Mr Virus came along.

The other thing that causes me to suffer are my 2 hernias.

I have experimented with a lot of things over the years and I manage to get a little bit of relief by consuming turmeric, usually diluted into a green tea.

What I do is pretty dumb, this is my 30th year of full-time work and my body is ravaged by injuries and general wear.

I should find something less physical, but as I demonstrate on here daily, I was towards the back of the line when they were giving out brains.

Still working now, not sitting at home collecting CERB.

It won’t be a massive amount but because I switched the from new construction to renovations, in the middle of a pandemic, I could post the profit I’ve made in the last decade, such has been the injury disruption the decade or so.

I have only been working temporary full-time for the last decade or so.

Did I semi retire at 35, earning 35k a year and making it work in Vancouver, with 2 or 3 holidays a year?

I don’t know.

Did I mention I’ve got shit for brains…

M45BC

#104 DON on 04.24.20 at 7:16 pm

#70 Nonplused on 04.24.20 at 6:47 pm

And to think this all could have been prevented if everyone had a couple boxes of N95 masks and a big bottle of hand sanitizer on hand when this started. Or maybe. It might have helped anyway.

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

YUP! Most likely will be the solution for now and the next time.

Good sensible post.

#105 BS on 04.24.20 at 7:17 pm

#91 Sold Out on 04.24.20 at 6:44 pm

How many posts per day about Trump? You seem obsessed. Kind of like CNN. Those who claim to despise Trump the most seem to obsess about him 24/7. Is there anything else going on in your life other than Trump?

If you spent half as much time in school as you do obsessing about Trump you may actually have a high school diploma.

#106 Phylis on 04.24.20 at 7:18 pm

#47 Faron on 04.24.20 at 5:00 pm I take back my comment. You are a liar.

#107 Wrk.dover on 04.24.20 at 7:18 pm

How I wish You-Know-Who, would sell patriotic Canada Savings Bonds with the little tear off tickets like the man who raised him like one of his own, used to do in the 70’s.

I’d buy enthusiastically!

#108 Don on 04.24.20 at 7:19 pm

Hey Garth, long time reader here. Perhaps you can look into a better comment software. It is hard to follow responses to those who comment. It’s kind of oldschool. Just saying….

Then stop reading comments. You’ll live longer. – Garth

#109 Kool Aid on 04.24.20 at 7:20 pm

Overly accommodative central bank interest rate policy resulted in record asset appreciation in this last decade…. talk about hyper prices… the everything bubble has popped.

Assets up and debts up on both sides of most net-worth ledgers, not so much now, most Canadians are poorer than they think.

Sounds like Doc & Mrs Doc are richer than they know.

Interestingly, no one wants to lose a home or a business, so additional pressure will exist on liquid assets in the near term as households prioritize what to do next, where does the liquidity come from, what are our priorities, sell this keep that.

An undeniable wave of insolvency, bankruptcy, merger and acquisition… the consolidations will ripple through the economy in 2020/2021.

The corresponding back drop of easy credit is a myth, elevated risk means different rates for different folks.

Long story short… in my humble opinion, hyper inflation is not in the cards for the near term.

High end real estate will be on sale in the coming quarters.

If the US eventually engages in a negative rate policy then at that time I would say that all bets are off, brace for much higher prices.

Wall Street tells us that “cash” will have a purchasing value that is 1/2 the original value roughly every 17 years.

Triple AAA real property is what holds the greatest value, if the circumstance where you can purchase such triple AAA assets at between .70 – .80 on the dollar in the coming months, it may be worth consideration.

Connecting favourable interest terms coupled with lower bound RE pricing is a powerful tandem, make sure you have the ability to procure a longer-fixed mortgage terms that include clear portability rights. BDogs, keep well, stay safe.

#110 Doug t on 04.24.20 at 7:21 pm

The “new norm” soon in the immortal words of Wimpy

“I’ll gladly pay you Tuesday for a hamburger today”

#111 Wrk.dover on 04.24.20 at 7:22 pm

#104 Flop… on 04.24.20 at 7:14 pm

—————————————-

30 years of work, what has your ex got to show for it, we know what you don’t!

#112 Idiocy on 04.24.20 at 7:24 pm

In case you haven’t noticed, the Liberal government is using this CV 19 “crisis” to make you pay for their ideologies and socialist dreams.

They are destroying the economy, taking away your livliehoods , freedoms and your independence.

To be replaced by your dependence on them.

In other words, this is a “soft” takeover of Canada’s democracy – transitioning to socialism with the tacit endorsement of the financially illiterate electorate.

All enforced by propaganda from a paid off , sorry “subsidized” media.

Read a little history and connect the dots.

Better yet, talk to any immigrants from a socialist regime – Romania, Czech, etc.
The ones I have talked to have lived it before and see the same signs I do.

Never thought it could happen in Canada?
Watch and weep.

#113 Sold Out on 04.24.20 at 7:29 pm

#79 Carlyle on 04.24.20 at 6:10 pm

Trump licker, like really? Is it really necessary to resort to personal insults just because you hate Trump?

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

Merely a play on the “brick-licker” insult frequently seen on this blog.

#114 Sail Away on 04.24.20 at 7:31 pm

#73 Jager on 04.24.20 at 5:59 pm
#14 Sail away on 04.24.20 at 3:25 pm

I wouldn’t disagree. I’m hearing some frightening things but so far count them as rumours from the shadows.

—————–

I anticipate a wealth tax, so am doing some prudent financial management and spreading assets amongst different countries.

If the government decides to play silly bugger, we’ll know it’s coming ahead of time and will be ready to up stakes and switch countries.

Mostly diversification, similar to investing. I never want any country to have the ability to freeze all my assets.

Also, CDN currency is looking very weak. Since moving here 14 years ago, our US holdings are 42% higher on currency exchange alone. That’s a lot!

#115 James on 04.24.20 at 7:41 pm

Something we all need, the funniest song I’ve heard all year. Enjoy!

https://www.youtube.com/watch?v=TkU1ob_lHCw

#116 Yukon Elvis on 04.24.20 at 7:42 pm

#99 Oakville Rocks! on 04.24.20 at 6:58 pm
#51 What are you babbling on about today?

The Globe and Mail has discussed the consequences of backing out of a real estate deals due to Corona virus at length recently.

Here:
https://www.theglobeandmail.com/real-estate/toronto/article-for-home-buyers-backing-out-during-covid-19-crisis-is-not-an-option/

Here:
https://www.theglobeandmail.com/real-estate/toronto/article-coronavirus-crisis-turning-off-the-toronto-real-estate-tap/
……………………………….

Maybe not.

Where there is no Force Majeure Clause: the Doctrine of Frustration

Force majeure is a contractual tool; it does not exist at common law independently of being written into a contract. Courts are typically unwilling to imply a force majeure provision into the contract where no express language exists. In such circumstances, parties may rely on the common law doctrine of frustration instead.

Frustration occurs where a situation has arisen for which the parties made no provision in the contract and performance of the contract becomes “a thing radically different from that which was undertaken by the contract.” Much like in the force majeure context, performance of the contract must become impossible; it is not enough that the contract become more onerous, or even significantly more difficult, but still possible to perform. Rather, a party must show that the original purpose of the contract has been frustrated, and it would be unjust for them to be bound to the contract under the existing circumstances.

Like force majeure, the situation or event that has allegedly frustrated the contract must (1) be unforeseeable at the time the contract was entered into; and (2) not be the fault of either party.
https://www.mccarthy.ca/en/insights/articles/impact-covid-19-contractual-obligations-force-majeure-and-frustration

#117 Sail Away on 04.24.20 at 7:42 pm

#83 Trojan House on 04.24.20 at 6:13 pm

I bet most people don’t know that a layoff is actually constructive dismissal regardless of the pandemic – “economic difficulty is not a legal cause for discharge.”

—————-

Partially correct- for discharge without severance. Employees can be laid off anytime following proper procedures.

My firm effectively laid off all staff at the beginning of this, then rehired 75% of them on hourly contract.

#118 TurnerNation on 04.24.20 at 7:44 pm

Remember folks to stay sane take everything said by our rulers and flip is backwards.

ON’s premier said we’re “Open for business”. Now we are shut.
….
From Jan:
TurnerNation on 01.12.20 at 2:20 pm

Orwellian Minister of Middle Class [Extinction] will put it into order.
Things will speed up SO fast in 2020-2021 to roll out the plans. Nobody will come to your door and take away your property no. They’ll just take 5-10% of its value away in Tax each year, and empty home tax, land transfer tax, capital gains on sales taxes (stay tuned!), carbon taxes. In a down market this would prove fatal.

#119 Keen Reader on 04.24.20 at 7:57 pm

TurnerNation on 04.23.20 at 9:39 pm
Calgary rip off on 04.23.20 at 3:36 pm

Disappointing to see you guys being so parochial. Religious faith has nothing to do with infection rates in these places. Inappropriate measures such as confining the young and healthy, while exposing the vulnerable ones, are the real reason for the relatively poor stats. But I will grant you that deeply religious ancestors did contribute nicely to their landscapes…

WRT to the “travelling idiots”, too bad if limiting your life to the local area is what makes you tick. Many others prefer expanding their horizons, learning about other places and cultures directly, as well as work/contribute within the larger community. No doubt the world would be a better place if more people travelled, instead of navel-gazing…

Finally, I call for stagflation, then resuming a quasi-normal life within a few years, albeit with fewer but more effective industries and services, plus tax galore…

#120 BillinBC on 04.24.20 at 7:58 pm

Hey Garth, long time reader here. Perhaps you can look into a better comment software. It is hard to follow responses to those who comment. It’s kind of oldschool. Just saying….

Then stop reading comments. You’ll live longer. – Garth

……………………………………………………………………………
Ouch…Garth a little sensitive today?

#121 Herb on 04.24.20 at 7:59 pm

We had the chance to get rid of PM Polyanna after he had proved his incompetence in his handling of the SNC Lavalin affair. Sadly the Opposition failed to produce a plausible alternative in the subsequent election, so here Trudeau fils is still riding high, and we still are without an alternative we could vote for. Makes a fellow real proud to be Canadian with this state of national politics.

#122 conan on 04.24.20 at 8:04 pm

I can not believe all of the blog dogs making excuses for Trump. The guy is a total bass hat.
He insults and attacks people for no reason and talks like an idiot. Giving dangerous medical information.
Hurry up Nov 20 so the world can be rid of him.

#123 TurnerNation on 04.24.20 at 8:05 pm

#40 Do we have all the facts why is the Bank buying up all the bonds it can find?

I keep saying this: the Crown is taking back all its land.
Get off it. The defaults and re-posessions will do the trick. Cities, Provinces, your house.

As I keep pointing out you are currently barred from Crown land: All parks, national and provincial parks are off limits. I do not believe they will be re-opening this year if ever.
This is bigger than you will ever know, for now.
Someone else brought up, what if cities have already declared bankruptcy? Vancouver hinted then clammed up. They’re all laying off like crazy.
Haven’t heard of it ? Because the courts are closed. No papers may be filed. Bankruptcy and nobody yet knows.
Their idea not mine – let’s see.

#124 Jager on 04.24.20 at 8:06 pm

It’s an incredible thing when you reach that stage of your life where you can sit down and eagerly listen to opposing viewpoints from many different angles. Some with great passion others logic/reason and still others utilizing great wisdom. All are welcome. (Rhetoric & Debate- A powerful secret. First find compassion for your intended audience before forming your argument. Any anger is exceedingly detrimental and a leading indicator that your viewpoint will be overlooked…

#125 Lee on 04.24.20 at 8:14 pm

Looks like my local shopping mall parking lot is the new playground. Go figure. Kids.

#126 WUL on 04.24.20 at 8:19 pm

Were I a vendor of real estate on a deal that the purchaser backed out of and scuttled the deal, about the last thing I did would be to commence a lawsuit.

4 years of drudgery, worry and big bills from a member of the honourable profession.

Only to have, as we say in AB, drilled a duster. Dry hole. The defendant is broke.

Move on from the disappointing breach of contract.

Seen it a lot from the profitable (fortunately) side of that disputatious unpleasantness and cantankerous judges.

#127 West Coast Dude on 04.24.20 at 8:20 pm

Hey folks, I’d like to get your input on this.

I see CERB has added some more Q&A’s to their website …

Do artists’ royalties count as employment or self-employment income with respect to the CERB?

Yes, in some cases. Artists’ royalties would be considered payments received as self-employment income if they were received as compensation for using or allowing the use of a copyright, patent, trademark, formula or secret process that is a result of their own work or invention. These royalties count towards the $5,000 income threshold, as well as towards the $1,000 that claimants can earn per month while receiving the Benefit. However, royalty payments received from work that took place before the period for which a person applies for the Canada Emergency Response Benefit do not count as income during that specific benefit period. Other royalties (i.e., from investment activities) do not count with respect to the Benefit.

This question is unclear as to whether it applies to me. I do have a small amount of Royalty Income from radio play (from quite a few years back when I was a muso), but I also receive monthly commission royalty income from 2 different online businesses (over $1,000 a month but not by much). It comes in whether I do anything or not. The CA website is not very clear about whether this would be considered royalty income based on their definition.

I have not applied for CERB, even though I lost around around half of my other self employed income due to COVID. I didn’t think I was eligible because of the royalty income.

Thoughts?

#128 Lost...but not leased on 04.24.20 at 8:27 pm

Lotusland Report:

Here in BC…MSM reports some people(aka showoffs) are getting desperate trying to get out of their auto leases for high- end vehicles.

Go figure..

#129 Loonie devaluing too on 04.24.20 at 8:28 pm

The US Dollar is currently between 38.2% and 50.00% Fibonacci retracement level versus the Canadian Dollar on Monday, but will not move sideways in the coming months. The recent resistance cluster formed by the 50-, 100– and 200-hour SMAs will soon give out. Expect the loonie to drop to 1.60 to the USD before year-end!

#130 Trojan House on 04.24.20 at 8:33 pm

#118 Sail Away on 04.24.20 at 7:42 pm

Did you not even read the article??? It plainly states that layoffs are not legal:

“They assume that, because so many employers are suddenly laying off or reducing the income of employees, it must be legally permissible.

It is not. One does not have to pay dismissal damages only if there is legal cause for discharge. Cause is serious misconduct, usually after written warnings.”

What your company did is technically illegal and they changed the terms of employment for those workers, unless you are part of a union in which case a collective bargaining agreement may set terms of a layoff. Otherwise, they effectively terminated them without cause regardless of whether they hired them back or not. However:

“If the employer genuinely has no work and little revenue coming in, most employees are prepared to accept the layoff or reduction in earnings, hoping to be shortly recalled.

If they accept it, though, that change becomes a new term of their employment, permitting the employer to lay them off or reduce their earnings in the future. That becomes a legal precedent permanently altering that employee’s terms of employment.”

Next time dude, read the article instead of just the headline.

#131 Drinking on 04.24.20 at 8:41 pm

Can do without Adele but Christ I really do need a haircut!

Stay safe all!

#132 Living and learning on 04.24.20 at 8:59 pm

There has been some discussion on the blog recently regarding the use of Force Majeure to avoid closing on a real estate contract when some black swan event occurs, like now. I don’t plan on entering into any contracts in the near future but I am wondering if adding a clause like “Subject to no material adverse conditions occurring prior to the possession date and time.” in addition to the usual conditions like subject to financing, satisfactory inspection etc. Would this allow me walk away at a time like this?

#133 Genesis II on 04.24.20 at 9:08 pm

DELETED

#134 Great Timing on 04.24.20 at 9:09 pm

Hey Garth.
My Shaw bill just went up 28% as of April. Great timing on that one.
Property taxes are going up as well. As they do every year. Voted in on April 6th.
With all the concern people are unable to afford mortgages or rent, shouldn’t local governments be looking at ways to cut costs? Especially since they are cutting back on services or could be cutting back. Who needs flowers on every street corner when you aren’t allowed to go out and look at them.
Lots of the locals are Fly-in/Fly-outs to Fort Mac, which with oil prices where they are and social distancing, I imagine some of these people might be feeling financial pain over the next six months to a year.
Like many places, a good portion of the local economy is in housing. Building, Reno’s, landscaping, repairs, flipping. Commercially – few local businesses have already closed up permanently.
Things can be very different from here on, shouldn’t our mayors and city councils be taking a step back and adjusting budgets as their ever-flowing pool of taxes might be starting to run dry?
Short of going out and buying a pitchfork and marching down to city hall, is there anything people can do to put pressure on local politicians/council members to keep our taxes in check during these trying times?

Thanks
GT

#135 Drinking on 04.24.20 at 9:14 pm

Normal is gone. At least until the autumn. mentioned Garth!

I am asking all Dawgs oh I suppose Felix as well; all indications are that it all returns back in autumn unless some miracle vaccine suddenly appears; then what?

There is so much construed info out there; purposely who knows. Like I mentioned yesterday there is not one person that I know that has come down with the Virus which is a good sign, not saying that it is not a serious issue but???

We are much smarter then that on this Blog; so lets hear it. What shall we all do besides the obvious if this continues to last into next season??

#136 Sandy on 04.24.20 at 9:18 pm

T2 wants to stifle free speech

Link (ironically) DELETED.

#137 Where is all of this money? on 04.24.20 at 9:23 pm

I have a job and can’t report to it due to lock-down order. And because of being injured and disabled last year while rehabilitating – no income last year. Therefore, don’t qualify for CERB.

Now BC will match qualifying CERB recipients with another 1k.

If you don’t want to pay me, let me go back to work!!!!!!!

#138 Ronaldo on 04.24.20 at 9:28 pm

#137 Drinking

We are much smarter then that on this Blog; so lets hear it. What shall we all do besides the obvious if this continues to last into next season??
—————————————————————–
Get ready to file for divorce and prepare for bankruptcy.

#139 Moh on 04.24.20 at 9:28 pm

Houses will go down a little but will shoot right back up once this is over. By next year this time the full economical power house of the world will be at its peak.

#140 Sail Away on 04.24.20 at 9:35 pm

#132 Trojan House on 04.24.20 at 8:33 pm
#118 Sail Away on 04.24.20 at 7:42 pm

Did you not even read the article??? It plainly states that layoffs are not legal

——————

I read it. It’s not completely accurate.

An employer can, in actuality and legally, dismiss any employee if they so choose. It costs money, but is completely acceptable.

#141 Deplorable Dude on 04.24.20 at 9:35 pm

The big unknown with Covid19 is just how contagious it is?

Kinda measured by it’s R0 value ( not the whole story if you look at SARs example).

Death fatality rates are dropping to approaching flu levels.

We don’t know R0 yet. Tricky to pin down. It will higher in downtown Toronto than a small town in Saskatchewan. Outside of big cities most folks mix in the same circles = lower R0 once the circle has been infected.

Flu has a R0 estimated at about 1.3. C19 unchecked appears to be about 2.5. But if that was the case New York’s death rate would have been astronomical given the evidence it’s been there 6 weeks before lockdown. Hence Indicates NY R0 is maybe about 1.8.

SARS is interesting, that had a R0 upto 5, but yet for some reason burned out quickly and didn’t kill that many, although it was lethal if caught, fatality rate of 10%.

Also increasing evidence of herd immunity, just today Miami Dade county confirmed 6% of tested have antibodies. Would put fatality rate at 0.1%

So big question every health official is trying to answer what is our worst case R0 and how do we get it down.

In many countries including Canada Care homes have been hit hard. 66% of BC deaths have been in care homes. Get that under control and R0 drops fast.

#142 Genesis II on 04.24.20 at 9:37 pm

#135 Genesis II on 04.24.20 at 9:08 pm

DELETED
—————
Huh?

Doctors discussing the biggest issue of the day – as been for several days here among many blog dogs.
It’s alright for everyone else to discuss but not the doctors? An explanation would be appreciated!

The Internet teems with ‘doctors’ furthering the Covid conspiracy theory. Not here. – Garth

#143 Wrk.dover on 04.24.20 at 9:40 pm

The moderator was AWOL for a few hours. I thought maybe the Trailer Park Boys had shown up in Lunenburg for a street party, but then I remembered this is $5.00/lb lobster night province wide!

My comment is, my municipality is over a month tardy on sending the property tax bill. My wife called in to express her concern, nada response. Is T2 covering that one too? Most here are on fixed income, the rest are now over paid at $12.00/hr ($2000.00/mo) and gagging on surplus funds. Unusual times indeed!

#144 Santa Claus on 04.24.20 at 9:41 pm

Not deflation. Not hyper-inflation.

Think Stagflation. Much of the basket goods will have lower demand, but what’s in demand will increase and the costs of producing those goods will rise as well. Growth will be slow. A lot of money will circulate in the economy (helicopter) and everyone will want the same items in the basket of goods.

And what happens when prices go up, you need to spend your $$$ – equities and real estate, always. Smaller percentage of market own larger swathes of equities and RE. Middle class entirely wiped out, apart from those funded by governments. Peasants and monarchs. Nothing in between.

Stagflation. That’s what’s coming. Bank on it.

#145 Sail Away on 04.24.20 at 9:42 pm

This deserves another airing. Thumbs up!

#125 Jager on 04.24.20 at 8:06 pm

It’s an incredible thing when you reach that stage of your life where you can sit down and eagerly listen to opposing viewpoints from many different angles. Some with great passion others logic/reason and still others utilizing great wisdom. All are welcome. (Rhetoric & Debate- A powerful secret. First find compassion for your intended audience before forming your argument. Any anger is exceedingly detrimental and a leading indicator that your viewpoint will be overlooked…

#146 Sold Out on 04.24.20 at 9:44 pm

#135 Genesis II on 04.24.20 at 9:08 pm

Bleach sales looking up? How much did you offer POTUS?

#147 MF on 04.24.20 at 9:48 pm

#141 Moh on 04.24.20 at 9:28

Ben Bernanke 2007? ^^

“The housing market is healthy and fine”

MF

#148 Drinking on 04.24.20 at 9:49 pm

#140 Ronaldo

Yeah Ronaldo, that is the obvious but we need to put out collective heads together for a better solution.

#149 Lysol Public Relations on 04.24.20 at 9:51 pm

Please take note:

“As a global leader in health and hygiene products, we must be clear that under no circumstance should our disinfectant products be administered into the human body (through injection, ingestion or any other route).”

*However, for all deplorables in this steerage section, we encourage you to ingest, inhale and drink our products freely, as well as to insert as many Lysol wipes as possible into every bodily orifice. As a guideline, we suggest the following numbers of wipes per orifice:

Nasal: 25
Esophageal: 125
Anal: 450
Ear canal: 10
Urethral tract: 30

Following these guidelines benefits you by reducing pain, and society by reducing the numbers of you.

#150 Kilt on 04.24.20 at 10:02 pm

#141 Moh
“Houses will go down a little but will shoot right back up once this is over.”

You really think so? Take cowtown. Already prices are 6-12% below last year. Things were struggling at $50 oil. $30 is a death blow for many companies. WTI is $17 right now and Western Canadian Select is $1.10. Once the oil sands taps are shut off, not so easy to turn back on. Sure that is just Alberta, but plenty of that money flows out of province. And there is enough of an oil glut to keep prices low for a very long time.
Once everything gets back to normal, there will still be plenty of people who wont have jobs to go back to. Sure this will create a great opportunity for people to start new businesses. But they will need to have the resources to do it.
With three to six months of belt tightening, it isn’t like people are going to start running out and buying cars and houses, or taking that trip to Mexico that they missed in the spring.
I had initially assumed this would put the pause button on real estate. Now I see my error. You will remove demand, and there will be an increase in supply. And how might this virus affect immigration? That was Canada’s Hail Mary keeping the RE bubble afloat.
Financial pain will continue long after the social distancing ends. A year from now, many people are going to be finding out that they need to pay thousands of dollars in taxes back because they double dipped on EI and CERB, or they applied for CERB when they were still making income. Assuming the clowns at revenue Canada can figure out who they sent cheques to.

Kilt.

#151 Drinking on 04.24.20 at 10:07 pm

Ok, I will go first with an idea. It has been repeatedly reported by countries/people that wear masks have a lower risk of contracting the virus, in France scientist have noticed that Smokers have a much lower risk of contracting the Virus, whether that is true or not time will tell.

I have absolutely no affiliation to this company; just read it today, but maybe it is a good thing.

https://www.actionbyacamp.ca/buy/mask

So, I made a few suggestions; hopefully others can do as well….

#152 Doug t on 04.24.20 at 10:15 pm

#137 drinking

Dig a bunker

#153 Doug t on 04.24.20 at 10:20 pm

Pawn shops are open in Victoria and have seen an influx one owner tells me

#154 TurnerNation on 04.24.20 at 10:23 pm

#120 Keen Reader actually my point is that they were being targeted. We know that our rulers want us divided, I mean we just finished a solid year of outrage-news stories. Then this. Perfect timing.
A community in solidarity is strong. Our leaders terrify over this.

#155 Doug in London on 04.24.20 at 10:24 pm

Here in the Forest City the Home County Folk Music Fest in July will almost certainly be cancelled. If that’s not bad enough, the thought of no Adele concerts leaves me absolutely heart broken. At least Quirks and Quarks, the science program with host Bob MacDonald still comes on tomorrow. If that program ends, the end of the world isn’t too far behind.

#156 Spectacle on 04.24.20 at 10:26 pm

Just in case you are wondering about recent heating up colitical commenta on Canadian covid credentials. Here is simple wikipedia on Tam. ( irrelevant, but actually not her legal names).

” As late as January 2020, Tam told Canadians there was “no reason to be overly concerned” about Covid-19. On 23 January, Tam was a member of the WHO committee that broadcast that it was too early to declare a public health emergency of international concern. On 29 January, she told Canadians that “It’s going to be rare, but we are expecting cases.” The next day, the WHO declared a global health emergency.”

So, should we at least hear of her parroting the Who, and China party based “information” , along with bleach labels being added to cleaning supplies to save humanity? Perhaps its fact, and not racist at all?

#157 joblo on 04.24.20 at 10:35 pm

#131 Loonie devaluing too

back to the early 1990’s, Chretien daze.
Love the Lieberals

#158 Klaus Wits on 04.24.20 at 10:52 pm

#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.”

Very interesting comment and a possible scenario. Europe was in a perpetual state of war for almost 500 years to the 20th century. Well-documented here,
https://en.wikipedia.org/wiki/The_Rise_and_Fall_of_the_Great_Powers

The war mechanism was used over and over by the elite to reboot the economy and to cull the herd, especially in caste structured societies like England where the large lower class was regularly sent off to the trenches, while the elite sat home sipping tea, munching on cucumber sandwiches, and whingeing about the bad weather.

How this plays out though is anyone’s guess. Could there be some kind of virus version of Iraq’s WMD, whereby the US declares “evidence” that the Chinese are harboring and releasing covid like weapons and uses the excuse to attack China and North Korea, in order to “save” the world yet again.

Truth is often stranger than fiction.

#159 Dragonslayer on 04.24.20 at 11:02 pm

#88 crowdedelevatorfartz

Just curious.
After seeing and listening to Trump’s latest bizarre ramblings…

How does one get a mentally suspect President out of office?
———————————————————
As per the the “Caine Mutiny”, when you see Trump clacking together a couple of ball bearings in his tiny hands and obsessing about who stole the strawberries, you’ll know he’s finally lost it.

Give it another month or so…

#160 Damifino on 04.24.20 at 11:09 pm

#121 BillinBC

Hey Garth, long time reader here. Perhaps you can look into a better comment software.
—————————–

Or else better commenters.

#161 Canali on 04.24.20 at 11:15 pm

https://techcrunch.com/2020/04/24/covid-19-forced-airbnb-to-rethink-its-product-offerings-heres-some-of-what-it-came-up-with
Have a read… interesting talk with Air BNB president on how it plan to salt and redesign

#162 canali on 04.24.20 at 11:17 pm

Sorry couldn’t see on my small phone.delete earlier one pleased

https://techcrunch.com/2020/04/24/covid-19-forced-airbnb-to-rethink-its-product-offerings-heres-some-of-what-it-came-up-with
Have a read… interesting talk with Air BNB president on how it plans to adapt, redesign and move forward.

#163 Jennifer Rogers on 04.24.20 at 11:29 pm

Re #22: while this blog has been a bastion of sanity particularly over the past two months, and so not wanting to be unappreciative, bit I’m not sure i understand why its ok to make these sorts of sweeping derogatory statements about women here. If you were to substitute ´any minority’ for ´women’ this post would surely be removed. Is it ok because women aren’t a minority?

Jmr

#164 Shared Confusion on 04.24.20 at 11:38 pm

Can I ask an obvious albeit unpopular question?

Q) If Trudeau insists on listening to the WHO and keeping the economy shuttered , then no jobs are being created, right?

– as Trudeau has made a game of hiring his new Canadians into the public service to skew jobs numbers is impeded by massive debt and decors ie : 349% of GDP. How will Trudeaus job creation plan continue to expand a civil service we simply can’t afford. It’s increasingly obvious we’ll lose of Triple A credit rating at the next meeting.

– where will the money come from to fund Trudeaus 400,000 +++ new immigrants next year while the Canadian debt and debt repayment has burst the limits of our nations borrowing? Is it not time to be rational about this topic? Canada is not only losing mass jobs numbers now but has been losing jobs per capital steadily. There is no job creation so how can more people amend that structural problem?

Is this mean? Am I a racist for asking about simple accountancy? The numbers don’t add up for Canada. They might if I was looking at vote blocs. But, are we not adults? Can we talk?

#165 Robert Ash on 04.24.20 at 11:41 pm

I lived through two serious Downturns, in Alberta, in the past. These experiences involved mass layoffs, and been asked for the Company Car keys, and an escort to the Cubby Hole, you shared, so you could clean out your desk, and haul it off in a Bankers Box… while the Rent a cop, stood at Vigil…. I am talking 75% of the Staff let go, as a surprise… Early 80’s… Note to Mills, us Boomers, have had more than a few rough patches… But when these job losses hit at record pace, it is not pleasant… and it causes Deflation… and at that time remarkably fast… Full stop no vehicle, and no income after the 8 weeks, severance…
I was lucky to have an older Truck as I was a renovator… I tried to stay employed, and finally found a job.. .going Door to Door to sell Toshiba Fax machines… I can recall, having to park the Old Ford with the Three on the tree, a block or two away, so no prospective customer could see my ride… Image matters even in a Recession… It gets worse as Folks start to realize they can’t make the Mortgage payments… then Ginggle Mail… Sending the House Keys back to the bank… Then House prices really started to decline.. and fast… Once Credit is exhausted, in three, four, five months, then the real pain starts… and it is important to learn that it all works, out in the end, and things, will turn around… One conviction I had was to keep working, and take any job, to keep on the ball… Even employment, in a difficult job, is better, than sitting around for me, personally… Keeps, the ears to the ground, for other opportunities… I actually got a lead from a prospective ” cold call ” customer, that lead to a much better outcome… Pride had to be shelved, but sticking it out paid off for me…

#166 Idiocy on 04.24.20 at 11:43 pm

Prediction:

1) A ‘snap election’ will be called shortly after the “lockdown” period ends, but before the economic fallout manifests widely.

Canadians will be relieved / semi- euphoric and voters will think themselves “saved” by the financial lifeline so graciously extended by the Liberals with their own future tax dollars.

Possible scenario:

Trudeau abdicates and lets C. Freeland take it over the cliff.

#167 morrey on 04.24.20 at 11:51 pm

Then stop reading comments. You’ll live longer. – Garth

Amen!

#168 crowdedelevatorfartz on 04.24.20 at 11:57 pm

Sooooo
Talking to some folks at ground zero in Nova Scotia….

Gee. were the bullet holes in the Debert Fire Hall really caused by RCMP shooting at…….. RCMP?

Only SiRT knows for sure…….

https://www.thechronicleherald.ca/news/provincial/sirt-investigating-rcmp-activity-at-onslow-belmont-fire-hall-during-sundays-shooting-rampage-440738/

The media seem to be …….ignoring……the story?

#169 crowdedelevatorfartz on 04.25.20 at 12:04 am

@#121 BillabongBC
“Ouch…Garth a little sensitive today?”
+++

No , probably just tired of the incessant bitching and moaning……..

#170 Charlie Chalupaz on 04.25.20 at 12:18 am

“She grew up in Romania and lived through the 1989-90 hyperinflation there. ”

Nuff said. The former Soviet bloc puppet states were the original toilet paper hoarders, so I woudn’t let her “balkanize” your otherwise sane economic opinions.

#171 Boris Badzenop on 04.25.20 at 12:23 am

” But this is not Romania. Here we just nibble and lick you to death.” Garth

Garth, Ceaucescu will be rollin his grave but I will give you a perfect Comaneci-esque score of 10 for that! Unfortunatley, you only got a 5.8 from the Russian judge.

#172 Not So New Guy on 04.25.20 at 12:34 am

#104 Flop… on 04.24.20 at 7:14 pm

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

I hear you. I also do a job that does a number on my body. I’m a little older than you and had an injury to my shoulder that almost froze it. I couldn’t lift my arm above shoulder height. I was taking glucosamine and many of the joint supplements but once I found out about collagen I was able to restore my full range of motion. It was a modern miracle so I try to pass it on to any that I can

I’ve read about turmeric and that is also a good option. Putting that in a vegetable soup with chicken broth would make a fantastic meal :)

#173 crowdedelevatorfartz on 04.25.20 at 12:38 am

Hmmmm
Russia ignored the corona virus “issue” for about a month longer than Canada……and yet they have started mass testing?

https://www.reuters.com/article/us-health-coronavirus-russia-antibodies/up-to-one-in-10-residents-of-moscow-may-have-had-coronavirus-infections-laboratory-idUSKCN2262Z7

Trudeau has pumped BILLIONS to keep people at home…with pay….how about a few hundred million to actually start testing people and find out how bad ..or how far this virus has spread?

Asinine doesnt even begin to describe the “60 second pablum” spewed out daily by the minority govt and the lick spittle advertisers (aka media)

#174 SamIwas on 04.25.20 at 12:41 am

#84 Bezengy on 04.24.20 at 6:17 pm

Drake isn’t busy? Maybe he can help a fellow rapper out as I’m suffering from writer’s block. I need a third verse, ….

He comes down like Moses from the Mountains
Spreading money around like water from a fountain
…”

You definitely have dialed into the fact that most rap lyrics sound like a Dr Seuss rhyme with a few 4 letter words thrown in for street cred. However, I feel your lyrics arent quite at Green Eggs and Ham level.

#175 crowdedelevatorfartz on 04.25.20 at 12:43 am

Will we all shed a tear or a sigh of relief when dictator UN crosses the great divide into the Land of Obesity and Cigarettes …without his nukes…..or his finger on the button.

https://www.reuters.com/article/us-northkorea-politics-exclusive/exclusive-china-sent-team-including-medical-experts-to-advise-on-north-koreas-kim-sources-say-idUSKCN2263DW

#176 Swirling down the pee hole on 04.25.20 at 1:23 am

RCMP report one major obstacle finding a killer in a cruiser, “it was dark”.

Hey, I’m only reading the paper. They said it, it’s not just me attempting to embarrass our Trusted RCMP’.

Second obstacle, “they had never trained for this”.
Same, don’t shoot at me, I’m just reading what’s printed.

Third, public warning was not issued as they were waiting for instructions from Ottawa. Again, they said it not me.

Justin first responded with jerked knee in face. “Ban all licensed weapons” . Except, it turns out the guns used by maniac weren’t licensed. Bill Blair cuddled up and shut up.
The entire charade evaporated when it was found that two RCMP pistols were used to kill. One stolen and one stripped from the fallen officer.

The PR team must have been shattered. Don’t Canadians deserve better? Normally the CBC would have been camped out at the scene, slews of archived footage of pointy hat klansmen, but the story doesn’t have Ottawa legs. No political points to be won I guess. Sad. Another gap in Canada’s readiness exposed, like masks for doctors etc. Swept under the rug.

#177 april on 04.25.20 at 1:56 am

#141 -Clueless!

#178 T-Rev on 04.25.20 at 2:36 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.

#179 Carm on 04.25.20 at 3:18 am

look into the death rate folks, question if it is calculated the same way as the seasonal flu rate is calculated. Exercise your free speech rights now before they could taken away.

#180 Swirling down the toilet on 04.25.20 at 3:33 am

#141 Moh

Don’t be so sure that everything will ‘go right back up’.

““Not all sectors will recover at the same rate, or at the same time,” she said. “There are going to be a lot more complications going forward.”

Yalnizyan said one possible way to think about how jobs will recover is to look at it in the reverse order of what was shut down.

“Schools shut down first, so school-related activities and schools will probably open first,” she said. “Retail shops might open next, but malls might take some time.”

Of course, there is also the looming question of what the job market will even look like when the economy reopens.

On the one hand, Antunes said, a decline in immigration — one of the biggest reasons why Canada’s labour force has been growing — due to the virus might absorb some of the shock of lost jobs, since there will be less competition for jobs once the economy reopens.”

More pain is yet to come, politically and otherwise.

#181 under the radar on 04.25.20 at 4:16 am

# 40 AND #82
“In the event of default will the mortgagors of mortgages insured by the Government of Canada be on the hook to the Government of Canada until their total debt including accrued interest is paid in full.?
Inquiring minds would like to know.When does CMHC insurance kick in ? That’s what I wanna know. Why are people even paying it ?”

CMHC insurance insures the banks. Borrowers pay it because they have to in order to obtain the mortgage, otherwise they do not qualify for conventional 75% LTV financing.

When a borrower defaults and the bank issues a power of sale , any deficiency (principal and or interest ) is paid to the Bank by CMHC. The Bank is required to issue the power of sale , obtain possession ,then sell the premises and obtain a judgment for the deficiency which is then assigned to CMHC. The judgment can be enforced through a number of post judgment enforcement mechanisms unless the borrower declares bankruptcy in which case the debt is extinguished.

#182 BillyBob on 04.25.20 at 5:25 am

#113 Idiocy on 04.24.20 at 7:24 pm
In case you haven’t noticed, the Liberal government is using this CV 19 “crisis” to make you pay for their ideologies and socialist dreams.

They are destroying the economy, taking away your livliehoods , freedoms and your independence.

To be replaced by your dependence on them.

In other words, this is a “soft” takeover of Canada’s democracy – transitioning to socialism with the tacit endorsement of the financially illiterate electorate.

All enforced by propaganda from a paid off , sorry “subsidized” media.

Read a little history and connect the dots.

Better yet, talk to any immigrants from a socialist regime – Romania, Czech, etc.
The ones I have talked to have lived it before and see the same signs I do.

Never thought it could happen in Canada?
Watch and weep.

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

Truer words were never spoken. My Czech partner is respectful of my native country, far more genteel than I really. But when I tell her some of the details of Trudeau’s massive handouts, her face registers quiet amazement at the cowed willingness of Canadians rushing towards the system they suffered under for decades. But that’s the difference between two cultures: one that still has fresh memories of the pain of communism, and one that is well on it’s way to experiencing it. History always repeats.

Just got an email from my gym in Prague, they’re reopening on Monday (April 27). As is most of the city, with extensive protocols of course. Borders will open again, probably first mainly to Germany and Slovakia as they have dealt with the pandemic similarly. Don’t think they’ll be taking anyone from Italy, Spain, or France anytime soon. So much for the EU’s open borders.

They’ve done the lockdown, everyone masked, drove their R0 well below 1. Everyone is on the same page, follows the R-number in the news and understands what it means to transmission rates. I don’t believe there’s even a national figure given for that in Canada.

Can’t wait until the intra-Europe flights start again so I can get out of the arrogant UK shitehole.

#183 eathboundmisfit on 04.25.20 at 5:46 am

“Hey Garth, long time reader here. Perhaps you can look into a better comment software. It is hard to follow responses to those who comment. It’s kind of oldschool. Just saying….
Then stop reading comments. You’ll live longer. – Garth”

I learned long ago that the solution is to scroll over anything longer than five lines. Too many pontificting, self-inflated windbags.

#184 O we have all the facts on 04.25.20 at 6:53 am

to #182

I think you will find that after the smoke caused by a default on your mortgage clears the bank that issued the insured mortgage will be OK, the holder of a Canada Mortgage Bond will be OK, and the Government of Canada will be holding account receivables in the name of the initial mortgagors.

Those who have witnessed the tenacity of the Canada Revenue Agency will appreciate that a debt to the GOC including any shortfall after liquidation of your home will be collected. As the distributor of benefits to Canadian citizens all the GOC has to do it wait until a future tax refund, CPP or OAS benefit becomes payable and nibble away.

There is no escape from debts owed to the GOC and the way things are headed they will soon own well over 50%
of all residential mortgages through their bond holdings and loan insurance programs.

No free lunch there.

#185 Bezengy on 04.25.20 at 7:14 am

#179 T-Rev on 04.25.20 at 2:36 am

————————-

My numbers still show Sweden has 300 percent more deaths than Canada after adjusting for the difference in population, but that is trending down. Shutting down the economy is saving lives, no question about it. The issue is the money we’ve spent on this. Absolutely insane imo. History may record this as the fastest destruction of an economy is the history of mankind.

#186 Remembrancer on 04.25.20 at 7:32 am

#184 BillyBob on 04.25.20 at 5:25 am

Socialism? Prague? Really?
Equating CERB to the Soviet occupation of Czech/Slovakia is a conflation too far…

#187 Trojan House on 04.25.20 at 7:40 am

#142 Sail Away on 04.24.20 at 9:35 pm

“I read it. It’s not completely accurate.

An employer can, in actuality and legally, dismiss any employee if they so choose. It costs money, but is completely acceptable.”

Yes, exactly so I’m not sure why you say it’s not entirely accurate. But read it further – “layoffs” are not permitted which is why it is a dismissal and an employee would be entitled to severance pay. Unless the employee “accepts” the layoff, or reduction in pay, which then alters the terms of their employment and that employee would be subject to further layoffs or pay reductions going forward.

So technically, if you did not agree to the layoff during this thing, you are considered dismissed and would be entitled to severance pay, etc. and if they did not pay it, entitled to sue the company for it.

Union employees have a CBA which may outline ‘layoffs’ in the contract. The reason that is legal is because you agreed to it as part of your terms of employment.

#188 Andrew on 04.25.20 at 7:59 am

Mike:

1% in physical gold
1% in bitcoin
That’s for the wife to sleep soundly.

Then patience to buy when the market is trounced like Garth said, or stay liquid with financial investments. So long as you allocate that initial 2% the other decision should work out fine.

Either way you’re right about never having debt again.

#189 CanadIain on 04.25.20 at 8:37 am

DELETED

#190 Penny Henny on 04.25.20 at 8:41 am

#129 Stone on 04.24.20 at 8:27 pm

I’m in need. In desperate need!

Please and thank you.

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

Duly noted.
Stone is very needy.

#191 Nottawa Housing Bust on 04.25.20 at 8:42 am

Just a thought for all of you oil bulls: Fuel demand is at 60% of normal. Maybe less. Demand for plastics and other materials mostly unchanged or down slightly. Balanced by demand for propylene or ethylene which is used in plastics IE HOSPITAL PPE.

If you are a long term investor (pension or hedge fund). Why would you place large bets on oil companies.

If fuels production is that much of oil demand, and fuels demand will continue to drop due to electrification, where is the upside here.

Sidenote: I worked for one of the Big 3 oil producers in the world for 15 yrs. I know how refineries work. And light ends production is never a priority.

#192 Penny Henny on 04.25.20 at 8:49 am

148 Sold Out on 04.24.20 at 9:44 pm
#135 Genesis II on 04.24.20 at 9:08 pm

Bleach sales looking up?
//////////

My local store is sold out of drinking bleach.

#193 El presidente clorex on 04.25.20 at 8:56 am

#144 Genesis II on 04.24.20 at 9:37 pm
#135 Genesis II on 04.24.20 at 9:08 pm

DELETED
—————
Huh?

Doctors discussing the biggest issue of the day – as been for several days here among many blog dogs.
It’s alright for everyone else to discuss but not the doctors? An explanation would be appreciated!

The Internet teems with ‘doctors’ furthering the Covid conspiracy theory. Not here. – Garth
….

And some are even a president

#194 Phylis on 04.25.20 at 9:11 am

#165 Jennifer Rogers on 04.24.20 at 11:29 pm Just repost it substituting man for woman and see what happens.

#195 Phylis on 04.25.20 at 9:23 am

#175 crowdedelevatorfartz on 04.25.20 at 12:38 am To paraphrase a past comment…. (use your best russian accent) We no get sick of virus. We make virus sick of us.

#196 akashic record on 04.25.20 at 9:23 am

The Internet teems with ‘doctors’ furthering the Covid conspiracy theory. Not here. – Garth

The diagnosis of Dr. “Internet” Garth :)

#197 BrianT on 04.25.20 at 9:34 am

#166Shared-let me ask you a question-if you were Boy Trudeau would you bring in 400000 people who are at least 95% likely to vote Liberal (an extra 380000 votes)? Second question: if you were Galen Weston would you want an extra 400000 buyers of your groceries (who cares if Joe Schmuck taxpayer has to pay the bill). The answer to both questions is YES. This isn’t your country or my country-they just let us live here (currently under house arrest).

#198 Dharma Bum on 04.25.20 at 10:15 am

The New Normal in retail business protocol, under the COVID SOCIAL DISTANCING NAZI REGIME, and enforced by the Doug Ford GESTAPO, and various other SS like goon squads throughout this failed country, will look something like this:

https://www.youtube.com/watch?v=MVm1KcrHM6s

#199 MF on 04.25.20 at 10:31 am

184 BillyBob on 04.25.20 at 5:25 am

All corona viruses follow the same pattern of retreat in the warm months, and return in the cold months.

Our social distancing is working yes, but so is the fact the weather is warming.

When the cold weather returns there is a good possibility (probably 100% actually ) that this virus will re-emerge..with a vengeance or not. No one knows.

To declare victory now is beyond premature. When things open up it will just spread like crazy again. The only way out is a proper treatment, and that’s about 1 year away.

Btw, anyone hear about Nick Cordero?

https://www.google.ca/amp/s/www.cbc.ca/amp/1.5542217

Early 40’s, healthy dancer, developed a secondary infection from covid and has had a limb removed.

Doing better but listed as “recovered” in the stats. There are maNy cases like this if you look.

MF

#200 Bytor the Snow Dog on 04.25.20 at 10:39 am

@Sole Doubt et al:

Strange how the World’s Dumbest President in somehow smart enough to live in your heads 24/7/365.

#201 looking up on 04.25.20 at 10:59 am

#180

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

#202 the Jaguar on 04.25.20 at 11:01 am

Story featured in National Post this morning on plans to build new skyscrapers such as the 95 story ‘SkyTower’ in downtown Toronto complete with glass curtain walls. Apparently one of many on the ‘drawing board’.
A few days ago Garth asked ‘have we lost our way’?
Based on this development I would say absolutely so. Total insanity.

#203 Sail Away on 04.25.20 at 11:01 am

Elon, Bezos and I have all gotten richer during the pandemic. The three of us now have a combined net worth of $176B USD.

#204 Barb on 04.25.20 at 11:12 am

Anyone watch Bill Maher last night?
Nancy Pelosi was interviewed.
Or should I say she blathered on and on…and on.
We’re not Trump supporters in this house, but listening to her “speak” is enough to encourage anyone to switch.

Even Maher’s eyes were glazed over at the end.
And this time NOT from all the weed he smokes.

#205 Dutchy on 04.25.20 at 11:21 am

#1 Jager on 04.24.20 at 2:5pm
Just for your info.

https://www.snopes.com/fact-check/trump-disinfectants-covid-19/?utm_medium=email&utm_campaign=Daily%20Debunker%20-%20Saturday%20April%2025%202020%20-%20What%20Did%20Trump%20Say%20About%20Disinfectants%20-%20reczKWAszaB6rcwva&utm_content=Daily%20Debunker%20-%20Saturday%20April%2025%202020%20-%20What%20Did%20Trump%20Say%20About%20Disinfectants%20-%20reczKWAszaB6rcwva+CID_c6ae1bd6973b62ad919c14af1d643913&utm_source=CampaignMonitor&utm_term=Read%20more

#206 crowdedelevatorfartz on 04.25.20 at 11:26 am

@#184 Billybob
“Can’t wait until the intra-Europe flights start again so I can get out of the arrogant UK shitehole.”

+++

Quarantined next to jane24 are we??????

#207 Sold Out on 04.25.20 at 11:29 am

#202 Bytor the Snow Dog on 04.25.20 at 10:39 am
@Sole Doubt et al:

Strange how the World’s Dumbest President in somehow smart enough to live in your heads 24/7/365.

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

Yeah, the 24 hour news cycle, that Cult #45 thought was his friend, has certainly kept him in our consciousness. Unfortunately, not because he was doing a spectacular job of crisis management.

Successful leaders have let the scientists deliver the bad news, being mature enough to not need to be the centre of attention, but not Trump. He had to be the news.

Best analogy of Trump and his handlers:

An old rancher is talking about politics with a young man from the city. He compares a politician to a “post turtle.” The young man doesn’t understand and asks him what a post turtle is.

The old man says, “When you’re driving down a country road and you see a fence post with a turtle balanced on top, that’s a post turtle. You know he didn’t get up there by himself. He doesn’t belong there; you wonder who put him there; he can’t get anything done while he’s up there; and you just want to help the poor, dumb thing down.”

#208 Penny Henny on 04.25.20 at 11:31 am

#201 MF on 04.25.20 at 10:31 am
184 BillyBob on 04.25.20 at 5:25 am

All corona viruses follow the same pattern of retreat in the warm months, and return in the cold months.
////////////////

That is why we have to open everything up sooner rather than later. Let’s build some herd immunity during the summer months so this way when flu season (winter) arrives we won’t be taxing the health care system as much.
Basically lets spread this out so the hospitals don’t get overwhelmed as was the original plan before the govt mutated that plan into ‘wait for a vaccine’.

#209 crowdedelevatorfartz on 04.25.20 at 11:32 am

@#197 Phylis
“We no get sick of virus. We make virus sick of us.”

+++

Nah, they arent bragging about a cure.
They are just mass testing to see how big and how real this problem is.
Instead of breathlessly announcing more billions in cash given away to everyone, everyday, everywhere…

This country will be financially crippled for a generation

#210 Sail Away on 04.25.20 at 11:33 am

#22 calgary rip off on 04.24.20 at 3:43 pm

This Mike guy isn’t going to win either way. If he buys in Vancouver, his wife will complain. If he doesn’t buy she will complain. This is normal female behavior of course denied by women. Part of the benefits of being married is dealing with emotional bs and nonsense of women.

——————–

Nope.

You describe behaviour of a self-involved, high maintenance person. Nothing to do with gender. Most people are not as you describe.

#211 BillyBob on 04.25.20 at 11:44 am

#188 Remembrancer on 04.25.20 at 7:32 am
#184 BillyBob on 04.25.20 at 5:25 am

Socialism? Prague? Really?
Equating CERB to the Soviet occupation of Czech/Slovakia is a conflation too far…

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

I did not conflate a thing. I mere stated the fact that someone from a former communist state can clearly see the parallels to the direction Canada is heading, which is telling. Your race to the warm loving arms of government control does not begin and end with the CERB. But hey, give it a spin and let me know how it all works out. (Spoiler alert: it ain’t great).

————————————————————————————-

#201 MF on 04.25.20 at 10:31 am
184 BillyBob on 04.25.20 at 5:25 am

All corona viruses follow the same pattern of retreat in the warm months, and return in the cold months.

Our social distancing is working yes, but so is the fact the weather is warming.

When the cold weather returns there is a good possibility (probably 100% actually ) that this virus will re-emerge..with a vengeance or not. No one knows.

To declare victory now is beyond premature. When things open up it will just spread like crazy again. The only way out is a proper treatment, and that’s about 1 year away.

MF

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

Tiresome.

In matter of fact this particular virus appears to exhibit very little of the trait you mention, of declining in the warm weather. This has been borne out by the many tropical countries that do not have appreciable lower rates of infection with their warmer climates. You do realize that summer in Canada is winter in Australia, right?

Tons of articles in the same vein:

https://medicalxpress.com/news/2020-04-dont-summer-reprieve-covid-.html

https://news.harvard.edu/gazette/story/2020/04/covid-19-may-not-go-away-in-warmer-weather-as-do-colds/

https://www.theguardian.com/us-news/2020/mar/30/is-coronavirus-seasonal-summer

QUOTE: “It’s really clear that warmer weather does not stop the transmission or growth of the virus. That’s clear from Australia, Singapore and Hong Kong. Singapore and Hong Kong have kept it to a large degree under control, but that’s with incredibly intense control measures. There’s no question that coronaviruses are capable of transmitting in hotter, humid climates.”

Countries like Czech Republic, Germany, and others aren’t “declaring victory” and declaring everything back to normal while they begin to open some businesses. They’re doing so selectively with extensive precautions, ready to go right back to their current protocols if that’s what it takes.

The reason they’re able to do so has nothing to do with the weather. It comes down to having good leadership that won public trust by acting early and decisively, which meant a populace more willing to do what was necessary. Good luck finding that in Canada and the US.

#212 Blog Bunny on 04.25.20 at 11:45 am

Then stop reading comments. You’ll live longer. – Garth

Amen!

Boy, so true. I was looking for some constructive avice for Mike at no avail. Mike, invest wisely. I have enough income from my portfolio that I no longer need to work. I work because I want to. I know I can stop anytime. This gives an incredible psychological freedom.

DOLCE VITA, Itally re-opening is good news. I can not wait to book a flight to Italy as soon as the lockdown is lifted. We were supposed to spend a month in Italia this fall before the virus happened. Maybe there is some hope.

#213 crowdedelevatorfartz on 04.25.20 at 12:02 pm

@#185 earthboundmisfit
” Too many pontificating, self-inflated windbags.”
+++

There are options for deflating a windbag….

#214 Dogman01 on 04.25.20 at 12:19 pm

#199 BrianT on 04.25.20 at 9:34 am
#166Shared-let me ask you a question-if you were Boy Trudeau would you bring in 400000 people who are at least 95% likely to vote Liberal (an extra 380000 votes)? Second question: if you were Galen Weston would you want an extra 400000 buyers of your groceries (who cares if Joe Schmuck taxpayer has to pay the bill). The answer to both questions is YES. This isn’t your country or my country-they just let us live here (currently under house arrest).

—————————————————-
It is a farm, with Farmers and Livestock. (farmed for Taxes, Votes and Labour)
The resident livestock are not re-producing (likely as they are under financial stress) so import more.
The imports are generally grateful and less ornery, for them it is an improvement, the Local livestock are not as compliant.
Each of the livestock requires Food and a Pen (shelter) which they have to borrow, work for and buy from the Farmers.
The Government’s job is to keep the livestock thinking that they run the Farm with our so compliant MSM as the ally.

Read “Animal Farm”, it is not a kids book and not just about Communism.

#215 crazyfox on 04.25.20 at 12:28 pm

There’s no hyper-inflation in the cards – not with most businesses shut, seven million on the dole, corporate earnings whacked, oil prices in the ditch, planes not flying, empty highways and a long, dry stretch ahead before government even lets people feel normal. – Garth

Agreed. One has to believe that inflation will be in the cards though in time as people get back to work… eventually. The longer this thing drags out, bankruptcies and foreclosures will begin stacking up. Competition has always been a driving force to reduce prices and keep inflation in check. With less competition, higher prices and inflation will follow whether its less competition on the shelf or on the streets.

It’s the timelines that are blurry. Certainly right now, its deflationary specifically with assets but with consumer goods we are likely to see inflation within 12 to 18 months. It really depends on the level of business bankruptcies and foreclosures we see going forward. The businesses that remain will see taxes rise in conjunction with a less competitive environment, a recipe for higher future inflation, not to mention changes in currency valuations throughout the world as bond markets adjust to rapidly rising public debt throughout the world but its still early to speculate.

#216 This Just In on 04.25.20 at 12:32 pm

“Social distancing orders to keep two metres apart to stop the spread of coronavirus is based on a made up figure, a government adviser has warned.
Robert Dingwall from the New and Emerging Respiratory Virus Threats Advisory Group (Nervtag) said the rule was ‘conjured up out of nowhere’.”

#217 Manitoba guy on 04.25.20 at 12:37 pm

“We pay barely over twice the property taxes in rent.”

Just how bad are the property taxes in Vancouver?

– Manitoba guy

#218 bubu on 04.25.20 at 12:45 pm

Romania was in the same situation… week economy, high unemployment, etc… when the $CAD will be 30c USD you will see… Canada’s rating is already at high risk…

Been there, done that.. I payed my apartment which was 45 salaries before taxes with a paycheck in 3 years after I bought it…

#219 Genesis II on 04.25.20 at 12:51 pm

#144 Genesis II on 04.24.20 at 9:37 pm

#135 Genesis II on 04.24.20 at 9:08 pm

DELETED
—————
Huh?

Doctors discussing the biggest issue of the day – as been for several days here among many blog dogs.
It’s alright for everyone else to discuss but not the doctors? An explanation would be appreciated!

The Internet teems with ‘doctors’ furthering the Covid conspiracy theory. Not here. – Garth

//

I’m sure if you actually listened to these 2 doctors you’ll regret your comment. Easy to ‘shoot first, ask questions later’, I guess.
There are experts in their field merely reporting their findings based on science.

There’s NOTHING ‘conspiratorial’ in what they say. Far reaching assumption you’ve made.
Actually, most of what they’re saying actually parallels much of what YOU’ve been saying in previous posts.

Simply providing numbers like:
Ratios of deaths vs numbers infected, … etc
Comparisons to ‘normal’ flu numbers (as you’ve done)

Comparison between Sweden vs Norway (no shutdown vs shutdown):
compare one approach vs another in order to evaluate risk/rewards of each

Some notes I jotted down:

Sweden: 2 million cases of Covid – 1,765 deaths
Norway: 7,191; 145,279 tests of which 4.9% tested positive: 182 deaths

So, numbers slightly better for Norway – but enough to justify shuttering down economy?
That is the question.

So, no need for conspiraphobia here Garth. Have a listen and you’ll see that it’s a source YOU might watn to link yourself – since it’s basically agreeing with what you’ve been saying all along!

#220 SunDays on 04.25.20 at 12:51 pm

#113 Idiocy on 04.24.20 at 7:24 pm

1. Debt sustained welfare state
2. Unaccountable bureaucrats in power
3. Self-censorship via political correctness
4. Vilification of productive members of society
5. A population increasingly dependent on the state
6. Central planning overriding market forces

The trend is clear to those who lived under socialism. Contingency planning is prudent yet again.

#221 Ronaldo on 04.25.20 at 12:54 pm

#210 Penny Henny on 04.25.20 at 11:31 am
#201 MF on 04.25.20 at 10:31 am
184 BillyBob on 04.25.20 at 5:25 am

All corona viruses follow the same pattern of retreat in the warm months, and return in the cold months.
////////////////

That is why we have to open everything up sooner rather than later. Let’s build some herd immunity during the summer months so this way when flu season (winter) arrives we won’t be taxing the health care system as much.
Basically lets spread this out so the hospitals don’t get overwhelmed as was the original plan before the govt mutated that plan into ‘wait for a vaccine’.
—————————————————————
Penny, as you know most hospitals around the country have been basically empty of patients because of this wave of people that they expected to be infected with the virus did not materialize. Same situation in the U.S.

The wave will arrive once the hospitals are opened up again but it will not be because of the virus but from the 10’s of thousands of people whose operations were put on hold, many which will have become critical. Wait and see.

https://www.theglobeandmail.com/canada/british-columbia/article-bc-halts-elective-surgeries-to-prepare-for-surge-in-critical-covid/

#222 Jimmy on 04.25.20 at 1:31 pm

#202 Bytor the Snow Dog on 04.25.20 at 10:39 am

Strange how the World’s Dumbest President in somehow smart enough to live in your heads 24/7/365.
———-

So which tastes better to you?

Lysol or Kool-Aid?

You’ve obviously indulged significantly.

Saying this in the kindest way possible….Please seek professional care!

#223 Jimmy on 04.25.20 at 1:59 pm

#202 Bytor the Snow Dog on 04.25.20 at 10:39 am

Strange how the World’s Dumbest President in somehow smart enough to live in your heads 24/7/365.
————-

Kool-Aid or Lysol… which one did you prefer?

#224 BrianT on 04.25.20 at 2:10 pm

#213-Try understanding stats not just repeating and quoting nonsense from “experts”-look at the actual data and it isn’t even debatable that this virus doesn’t do as well in hot weather-“infection” stats are meaningless-look at death stats-deaths per million population-Belgium 597-Australia THREE!!! only a difference of 199 fold which your genius expert attributes to better control technique in AUS versus Belgium. Jeez-no wonder Boy Trudeau is our fearless leader.

#225 Sold Out on 04.25.20 at 2:15 pm

#106 BS on 04.24.20 at 7:17 pm
#91 Sold Out on 04.24.20 at 6:44 pm

How many posts per day about Trump? You seem obsessed. Kind of like CNN. Those who claim to despise Trump the most seem to obsess about him 24/7. Is there anything else going on in your life other than Trump?

If you spent half as much time in school as you do obsessing about Trump you may actually have a high school diploma.

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

Don’t worry. All the attention on Trump will die down by November 04 2020.

Yeaah, a high-school diploma could come in handy when all those low-IQ types, who undoubtedly graduated from high-school, hoard all the TP.

#226 Genesis II on 04.25.20 at 4:04 pm

Alright, I’m assuming that it’s now OK to post this link (was deleted yesterday), as I think it is FAR from being controversial or conspiratorial.

Infection data, in California and other places such as Norway and Sweden – two scandinavian countries that approached the Covid19 problem in different way, so that we can weigh the pros/cons of each method. I don’t know what could be more scientific and objective that letting the data ‘speak’ as to the success rates of strategies in appoach.

If this gets “deleted” again, I will have to assume that certain ‘perspectives’ aren’t allowed a voice – even when supported by science and data. And I will be greatly disappointed in that GF would appear to have lost its way…

Same response. Link deleted. What some unknown docs in Cali have to say about local conditions, in support of a Covid-conspiracy meme, has nothing to do with this blog’s content. Plus you threatened me. That was unwise. – Garth

#227 Will S on 04.25.20 at 4:54 pm

Hi Garth,

Don’t know if you read comments a day old on your day off, but can you source that “real estate is 24% of Canadian GDP” claim?

Thanks for all you do,
Will

#228 Genesis II on 04.25.20 at 6:18 pm

Same response. Link deleted. What some unknown docs in Cali have to say about local conditions, in support of a Covid-conspiracy meme, has nothing to do with this blog’s content. Plus you threatened me. That was unwise. – Garth

Well, you often provide alternative numbers regarding the Real Estate sales/listings etc. that contradict the RE Boards’ numbers – and you provide reasons/sources for your numbers. Some would consider that a heresy of sorts, but you still do it because you think people should know the ‘real’ numbers.
These doctors are doing exactly the same thing – yet, they’re part of some ‘conspiracy’?
Additionally, are you implying that conspiracies never occur?
I support just letting all sides have their story and let individuals make up their own minds.
Democracy depends on all viewpoints having a voice – and if it turns out that there actually was some conspiracy, by deleting links of countering views/data you’d have inadvertently become part of it.

At least tell me that you gave it a listen, so at least I’d know that you made an informed decision.
It’s your blog so your rules (but some consistency would be easier for us/me to know when to post something and when not to).

ps how about Flop’s entry a couple days ago questioning what was going on at the ‘test center’ at Cambie and 33rd in Vancouver (‘nothing’ was implied). How’s that OK to appear here and the link I provided not? Puzzling…