By Guest .Blogger Doug Rowat
.
The dividend cut-parade has begun.
Plagued by the devastating coronavirus lockdown, more than 40 S&P 500 companies have cut or suspended their dividends so far this year. In almost every case, it’s unsurprising the companies that are doing the slashing given their coronavirus-sensitive business models: Carnival, Boeing, Schlumberger, Walt Disney, Delta Airlines and Marriott International to name but a few.
But regardless of how well-telegraphed these dividend cuts may have been, investors who rely on their portfolios for income are going to have to reconcile themselves to getting less of it. Not owning these stocks specifically doesn’t mean that you’ve escaped a reduction in your cash flow. More dividend cuts are coming and dodging all the cutters will be like dodging raindrops in a thunder storm. Also, most of the companies that have already cut are widely held by both mutual funds and ETFs. Vanguard Group, for instance, is the largest holder of Boeing, Disney and Schlumberger. So, if you own any kind of broad-based investment vehicle your income stream has probably already been dinged. No income investor is getting out of this coronavirus crisis unscathed.
So, how bad could it get?
According to a recent research note from Morgan Stanley, the market is currently implying a 15% drop in S&P 500 dividends this year. And if we examine our most recent economic catastrophe—the 2008-09 financial crisis—the S&P 500 saw a massive 27% decline in dividend payouts from peak to trough. So a dividend decline of between 15% and 30% this time around is a reasonable assumption.
S&P 500 dividends per share – long term
Source: Bloomberg
However, there is a silver lining.
First, the Morgan Stanley note argues that expectations of a 15% decline in dividends may be overly pessimistic: “we suspect many management teams will be reluctant to cut dividends and be willing to use some cash on hand to support dividends.” Morgan Stanley further states that “companies will always do their best to protect dividend payments and there is substantial empirical data on the strong signaling effects of dividends and stock prices.” In other words, senior executives, who understand the importance of share price performance in relation to future equity financings (not to mention their own compensation) will bend over backwards to protect those dividends.
Second, the 27% drop in dividends during the financial crisis was very short lived. The entire dividend decline spanned only about 9 months (July 2008 to March 2009). Companies then immediately began to raise dividends, returning to pre-crisis highs within three years. Now, it can be argued that the coronavirus crisis may last longer than the financial crisis, but it should also be noted that the rise in dividends following the financial crisis very closely tracked the recovery in the broader equity market. This is always the case. And in case you’ve been under a rock, equity markets have been skyrocketing since their March 2020 lows—surely a good sign for dividend outlook. Indeed, the Morgan Stanley note goes on to add that “if investors believe dividends will only fall 15% in such a terrible economic year, it should make them feel better about this stream of dividends in the future.”
And finally, if you’ve prudently built a balanced and diversified portfolio with multiple asset classes and various sector and geographic exposures, you have even less concern regarding a reduction in your income stream. US treasuries, Government of Canada bonds and even most high-quality corporate bonds are in no danger of default. Further, if you have diversification within the equity component of your portfolio, the effect of broader market dividend declines can be further mitigated.
Every portfolio, for instance, should have Canadian bank exposure. Reliable dividends are critical to the reputation of our big banks making it extremely unlikely they will ever cut. Indeed, none of the big five Canadian banks has cut dividends in at least the past 80 years (National Bank, the sixth largest, cut its dividend in 1993) and none cut, of course, during the financial crisis:
S&P/TSX Canadian Bank Index dividends per share (white line) vs S&P500 dividends per share (orange line) – Canadian banks held steady during the financial crisis.
Source: Bloomberg
But if for some reason you have no confidence in the payouts of our Canadian banks, you might find comfort in other sectors such as US health care. Many of the largest US health care companies (Johnson & Johnson, Pfizer, etc.) have actually RAISED dividends this year.
Regardless, the point here is that diversification is always the key to limiting your dividend downside.
So, more dividend cuts are coming. Brace for it. Fortunately, these cuts are likely to be short lived and can be ameliorated through proper portfolio diversification. However, if you’re taking income from your portfolio, you may simply have to temporarily adjust to a more modest lifestyle. One thing this crisis has taught us is that we’re all going to have to make sacrifices.
Think you’re above doing that? Tell that to a frontline worker.
124 comments ↓
The only thing that’s going to work is Trudeau’s 4 day work week with 200 sick days a year.
On the days we are not working, we are told to spend the money we haven’t earned doing tourism things.
Not sure who does the engineering, production, design, manufacturing, extraction, teaching, caring and all the other bits.
Happy face, happy place.
Excellent post Doug. Right on the money.
@#148 X-Ray portfolio
“Trump is a clear winner. Obama didn’t organize and train BLM and Antifa for no reason. The EU hates Trump. The Chinese control Trudeau. Need I go on?”
+++
TurnerNation renamed?
Hilarious video-your taxpayer dollars at work https://www.youtube.com/watch?v=JUGb9XI0LbI
Timely post Doug. Most appreciated. What happens inside dividend etfs when it’s components cut dividends?
I absolutely agree with Trudeau about racism and am vehemently opposed to anti-white racism.
Always enjoy your articles Doug, thanks again for all you do and having a level head during times like this.
I’m counting on TD and enb to support me with dividends
On my early retirement along with minor holdings in the other banks . No worries here.
I’d like to switch from my all equity PF to a more balanced one.
Should it still be the winners that I trim (VOO) or is it reasonable to shave a bit off the perpetual drags (VEA&VWO)?
What about XRE? Is that ever coming back?
10% Xiu
10% XRE
13% Vea
7% vwo
I’d like to swap half of each of those for IEF.
Actually I’d like to swap the other half for more Voo as well, but I’m trying not to exit an asset class….
Thoughts?
NASA/SpaceX live launch 3:30 pm ET. Watch it, baby!
Bob and Doug go to space.
Great info Doug. A calm voice in the midst of a pandemic storm.
Take Off, eh!
Bob & Doug IN SPACE!
Hope they brought beer.
Dividend cuts are dogawful.
And… liftoff. Historic flight. First US crewed flight in 11 years, first ever by private contractor. Elon was already awesome; this is next level.
#6 Sail Away on 05.30.20 at 1:36 pm
I absolutely agree with Trudeau about racism and am vehemently opposed to anti-white racism.
Not only absolutely off topic but tone deaf as well.
Well, it’s Saturday.
Or where I come from…..the least frowned upon day to get drunk…
M45BC
Visualizing Wine Exports by Country.
Lockdowns under COVID-19 have shifted consumer preferences over the past few months. One of the products that has experienced a surge in demand is wine. At the end of March, wine sales were up 42% compared to the same time last year. How important is wine for the global economy? For some countries, it’s essential! Our new visualization breaks down which countries export the most wine.
World wine exports are worth $36.1 billion.
Half of the world’s wine exports come from two countries, France and Italy.
Three-quarters of the world’s wine exports come from Europe.
Wine exports from Australia ($2.1 billion) are worth more than wine exports from Africa and Asia combined.
Wine Exports by Country – Top 10
1. France: $11 billion
2. Italy: $7.3 billion
3. Spain: $3.1 billion
4. Australia: $2.1 billion
5. Chile: $1.9 billion
6. United States: $1.4 billion
7. New Zealand: $1.2 billion
8. Germany: $1.2 billion
9. Portugal: $920 million
10. United Kingdom: $837 million
If Canada is printing money from thin air ,where is it going.After a slight shuffle it goes back to the government and banks.Raising taxes or cutting dividends just speeds up the process. Both will capitalize on a good crisis and anyone with wealth will donate.
#11 Sail Away on 05.30.20 at 3:05 pm
Bob and Doug go to space.
?????????????
MacKenzie?
Take off eh.
https://www.youtube.com/watch?v=8Jm4LoOaAWI
#6 Sail Away on 05.30.20 at 1:36 pm
I absolutely agree with Trudeau about racism and am vehemently opposed to anti-white racism
—
Anyone who has to expressly state opposition to anti – white racism in the US as their first claim on race related issues is vile. I know you think you are stirring the pot and or taking a “brave” minority view. In actuality you are joining voices with a cowardly, fearful, backwards and racist group too afraid to be overtly hateful towards minorities but too mired in the MAGA glory days when the only voices were white to be anything but contemptible if not white nationalist.
yes millionaires worried about their dividend cheques, yes its tough out there for everyone with this Covid, obviously some more than others.
Lots of middle-income retired people rely on dividends. Grow up. – Garth
#9 SoggyShorts on 05.30.20 at 2:12 pm
I use HTB.TO
Currently 18% exposure.
Chasing yield is never a winning strategy, case in point. While divs have a passable relation to overall corp health, that’s not a hard rule. My own employer suspended theirs because having about 50% less revenue and uncertain future means cash pileup.
The “market” is certainly high on FED bucks and hopeium, if it holds great, otherwise another ‘correction’ would not be out of nowhere.
Better hope Deadbeat Donnie gets re-elected, he’s so far the only leader talking seriously about getting back to normal. So many leftie countries like here, seem to be keen on indefinite lockdowns and arbitrary rules (not laws I may add). That are basically the longterm death of SMB and public cultural activities.
Another fantastic post from Doug! Adds to many but definitely one about time to recovery.
I use gold producer etf to invest in gold, about 3x gold price, reduces amount held since pays little; sell if dividends are cut.
Question for Doug – Do you have any concerns about government imposing dividend payouts on companys?
Shares and dividends will be of no value if our economy and society crumbles due to a failure to make amends for centuries of white supremacy.
Let us all profit from our collective efforts, let us all earn dividends from a society where there are no race-based advantages or discrimination.
@#16 Ustabe on 05.30.20 at 3:37 pm
#6 Sail Away on 05.30.20 at 1:36 pm
I absolutely agree with Trudeau about racism and am vehemently opposed to anti-white racism.
Not only absolutely off topic but tone deaf as well.
/////////////////////////////////////
yup, pretty much sums up sail away in general.
@ Sail away
Quantity over quality = fail
#20 Faron on 05.30.20 at 4:08 pm
#6 Sail Away on 05.30.20 at 1:36 pm
I absolutely agree with Trudeau about racism and am vehemently opposed to anti-white racism
——————-
Anyone who has to expressly state opposition to anti – white racism in the US as their first claim on race related issues is vile. I know you think you are stirring the pot and or taking a “brave” minority view. In actuality you are joining voices with a cowardly, fearful, backwards and racist group too afraid to be overtly hateful towards minorities but too mired in the MAGA glory days when the only voices were white to be anything but contemptible if not white nationalist.
——————-
Once again, Faron: “in my opinion”. You’re welcome.
And negative. The one acceptable racism these days is anti-white. Discriminatory! I stand with the oppressed.
#20 Faron on 05.30.20 at 4:08 pm
#6 Sail Away on 05.30.20 at 1:36 pm
I absolutely agree with Trudeau about racism and am vehemently opposed to anti-white racism
—
Anyone who has to expressly state opposition to anti – white racism in the US as their first claim on race related issues is vile. I know you think you are stirring the pot and or taking a “brave” minority view. In actuality you are joining voices with a cowardly, fearful, backwards and racist group too afraid to be overtly hateful towards minorities but too mired in the MAGA glory days when the only voices were white to be anything but contemptible if not white nationalist.
———
Or he was hanging a little red meat for the eyeball launchers.
Sail evidently mixes an irresistible chum.
3 and counting…
Welcome to the Internet.
#18 broader mind on 05.30.20 at 3:58 pm
If Canada is printing money from thin air ,where is it going.After a slight shuffle it goes back to the government and banks.Raising taxes or cutting dividends just speeds up the process. Both will capitalize on a good crisis and anyone with wealth will donate.
—-
The Big 5 have raised dividends by more than 6% annually over the past decade. That rate smokes inflation.
To beat the banks, own the banks.
—Doug
SpaceX away cant figure out when musk sleeps oh yes forgot he is a alien lol great start to the next steps in space
Elon Musk has The Right Stuff!
I massively went dividend shopping in March. So far it has not panned out well; but in the long run I am looking at huge yield AND good capital gains. I hope.
Shell, Aviva, and British American Tobacco. All with huge yields at the prices I got them at. Once they, you know, start paying dividends again…
Do not live above your means.About wine I lived in the
Okanagan for 59 years and I didn’t visit one winery or buy one bottle of wine.Generations of term deposits. Living
the charmed life in Victoria B.C.
thank you Doug for a great post. In particular I appreciate your closing words. More so than ever what it means to be “low income” is so poignantly clear in terms of lack of security and safety in every sense.
Faron – thank your for articulating so clearly that racism is about an institutionalized view that because of someone’s difference (skin colour, gender) they deserve less; they are worth less. This is why a white man can never claim to suffer from anti-white racism. The institutions of the powerful were built to privilege white men but we are fortunately moving bit by bit toward a more inclusive society in Canada.
SpaceEx ?
Rotflmao:
Check out those astronut suits…..
Looks like Elon Musk went to Value Village and bought Grey Nehru suits and space helmets from Kubricks “2001: A Space Odyssey”.
#20 Faron on 05.30.20 at 4:08 pm
#6 Sail Away on 05.30.20 at 1:36 pm
I absolutely agree with Trudeau about racism and am vehemently opposed to anti-white racism
—
Anyone who has to expressly state opposition to anti – white racism in the US as their first claim on race related issues is vile. I know you think you are stirring the pot and or taking a “brave” minority view. In actuality you are joining voices with a cowardly, fearful, backwards and racist group too afraid to be overtly hateful towards minorities but too mired in the MAGA glory days when the only voices were white to be anything but contemptible if not white nationalist.
/////////////
As I said before. Sail Away=No class
20% permanent unemployment.
MUCH higher taxes imminent. Perhaps 20% yearly increases in property tax for the next 5 years. No OAS for those making over 60,000 retirement income. Increase in capital gains tax inevitable.
Dividend cuts are the least of your worries. If it was only a permanent 50% decrease in dividends that would be a party.
Retail is decimated and Amazon type technology will rape the job market. It will be very difficult to convince someone to hold a part time job earning $20,000.00 when having a child will give them the equivalent of $40,000.00 potentially even more depending on how things go with paternity.
Banks don’t set aside money as a joke. The wave of bankruptcies to come will be unprecedented. This is only the first wave of writedowns.
We have serious structural problems in this country that the people refuse to face. The National Post had recently published an article showing that teachers in Ontario effectively earn $150 an hour. Why do we need to match pension contributions as taxpayers?
There is no question that there is no leadership in this country. You don’t borrow your way to prosperity.
This is not government for the people. This is government for the people in government.
We can talk all we want about preserving capital and how wonderful it is to almost be breaking even but when the government is committed to taxing that remaining capital significantly it’s all a moot point.
Government spending is out of touch with reality and we are unwilling and unable to stop the train wreck.
@#29 IHCTD9 on 05.30.20 at 4:49 pm
#20 Faron on 05.30.20 at 4:08 pm
#6 Sail Away on 05.30.20 at 1:36 pm
I absolutely agree with Trudeau about racism and am vehemently opposed to anti-white racism
—
Anyone who has to expressly state opposition to anti – white racism in the US as their first claim on race related issues is vile. I know you think you are stirring the pot and or taking a “brave” minority view. In actuality you are joining voices with a cowardly, fearful, backwards and racist group too afraid to be overtly hateful towards minorities but too mired in the MAGA glory days when the only voices were white to be anything but contemptible if not white nationalist.
———
Or he was hanging a little red meat for the eyeball launchers.
Sail evidently mixes an irresistible chum.
3 and counting…
Welcome to the Internet.
/////////////////////////////
ya, an ace toll no doubt.
#15 Sail Away on 05.30.20 at 3:30 pm
And… liftoff. Historic flight. First US crewed flight in 11 years, first ever by private contractor. Elon was already awesome; this is next level.
—————
What’s so special about the Melon Rocket?
Can’t even take off when there is a 20 mile an hour wind.
33 TCA – I went shopping then too. Already collected some. “Rub tummy” as someone likes to say.
#29 IHCTD9 on 05.30.20 at 4:49 pm
#20 Faron on 05.30.20 at 4:08 pm
#6 Sail Away on 05.30.20 at 1:36 pm
I absolutely agree with Trudeau about racism and am vehemently opposed to anti-white racism
—
Anyone who has to expressly state opposition to anti – white racism in the US as their first claim on race related issues is vile. I know you think you are stirring the pot and or taking a “brave” minority view. In actuality you are joining voices with a cowardly, fearful, backwards and racist group too afraid to be overtly hateful towards minorities but too mired in the MAGA glory days when the only voices were white to be anything but contemptible if not white nationalist.
———
Or he was hanging a little red meat for the eyeball launchers.
Sail evidently mixes an irresistible chum.
3 and counting…
Welcome to the Internet.
————————————————————
Indeed, this board has a troll. Blaming the victims isn’t the right action, though.
#29 IHCTD9 on 05.30.20 at 4:49 pm
#20 Faron on 05.30.20 at 4:08 pm
#6 Sail Away on 05.30.20 at 1:36 pm
I absolutely agree with Trudeau about racism and am vehemently opposed to anti-white racism
—————-
Anyone who has to expressly state opposition to anti – white racism in the US as their first claim on race related issues is vile. I know you think you are stirring the pot and or taking a “brave” minority view. In actuality you are joining voices with a cowardly, fearful, backwards and racist group too afraid to be overtly hateful towards minorities but too mired in the MAGA glory days when the only voices were white to be anything but contemptible if not white nationalist.
—————–
Or he was hanging a little red meat for the eyeball launchers.
Sail evidently mixes an irresistible chum.
3 and counting…
Welcome to the Internet.
—————-
Yes, the chum is an exquisite mixture of benevolence, tolerance and love for humanity.
Unfortunately, my love sometimes spills in a direction that enrages others. Such as showing tolerance for the wrong group…
Sigh…
I think employment numbers will be key. Especially those of the self employed variety. If the comeback in these categories is dismal, then the markets are lying, and everyone should expect another big V.
The News media were salivating over the latest “racial” attack in the Lower Brain land until they realized the attacker was also asian….. oops.
Just a boring old assault.
And as far as Lower Brain Land weird happenings go………….Bizarre doesnt even begin to describe it.
https://www.youtube.com/watch?v=UdpMDmUduL4
Give the Burnaby RCMP a call if you recognize the young, well dressed lady with the agile foot sweep.
@#40 Perturbed Ponzie
“What’s so special about the Melon Rocket?
Can’t even take off when there is a 20 mile an hour wind.”
+++++
Ah yess.
Those dependable V2 rockets set the stage for Herr Von Braun to escape to the US and continue with bigger rockets.
lets just be happy that the US space program has finally returned to dependable Big Dumb Rockets as opposed to the uber expensive “reusable?” Space Shuttle”
But I’m assuming a lot.
Grumpy old Ponzie isnt happy unless he’s urinating on a camp fire and standing in the steam cloud.
Should dividend receivers be concerned about a less favourable treatment of dividend income re: taxes in the future? (since the government will be looking for revenue?)
That, to me could be as much a concern as dividend cut itself.
crowdedelevatorfartz on 05.30.20 at 12:34
Lol that’s what I was thinking too.
This whole situation has been a gift to the conspiracy theorists.
This is going by how many times our first comment is a TurnerNation rehash of the movie-script from Enemy of The State splashed for all to see.
That movie was great though. Classic Will Smith.
MF
I think it’s time to start betting against America.
The old sage is already selling off and the coward is hiding in the White House pretending to be Churchill.
What I see happening in the streets of the US will take years to forget and repair.
Violence begets Violence.
Sounds like an even better time to buy the depressed Preferreds, then.
They are much safer than regular dividends, and companies generally pay them unless the business is in very dire circumstances.
Either preferreds or some covered call ETFs (like BMOs ZWB or ZWU for instance), to squeeze out some more income.
What is happening in the streets in the USA will magnify by 5-10x by the summer. Trump will be cornered. He will lash out wherever possible, and will choose China as a distraction.
War by September.
PREPARE
Lots of riots and looting throughout the USA-CNN is blaming white supremacists and “Russians”-LOL. I think we can all agree that this anti-Russian bigotry has to stop.
Just wondering…
Is there EVER a time for you (or your firm), to diversify into gold?
Not ‘bet-the-farm’ type of investment position – just as an alternative asset class that has shown at times to be negatively correlated to the rest of the Market.
My view is that these are historic times – where fiat currencies are being devalued at an accelerated rate and one just HAS TO look for ways to defend against such coordinated CB policy worldwide.
Given this ‘money-printing on steroids and rocketing debts being the way to deal with all the economic shocks due to the Covid19 reaction, I see it as being prudent (to have an oversized allocation to gold), no longer a speculative endevour.
What am I missing?
#47 Winterpeg on 05.30.20 at 6:49 pm
Should dividend receivers be concerned about a less favourable treatment of dividend income re: taxes in the future? (since the government will be looking for revenue?)
—
Yes. A ~$300 billion deficit will result in all kinds of creative new taxation. I did mention making sacrifices.
–Doug
“However, if you’re taking income from your portfolio, you may simply have to temporarily adjust to a more modest lifestyle.”
Well, yes, but when everybody does that you get a recession.
The economy is unfortunately a big feedback loop. The dollars travel in circles. The dollars aren’t real, they are just a measurement stick to keep track of who owes what to whom. There is no start or end to the loop. But if we jump on the loop say at the baker, he sells his bread to the butcher, who sells his meat to the plumber, who fixes the baker’s toilet. And they all pay property taxes which pay for the teacher who then also buys their goods and services. It is always a loop, where we trade our labor for the labor of others.
When the circle gets slowed down for some reason, the current being covid, the problem is when nobody is working nothing of value is being produced. It is a huge problem. As Garth often says time is the most valuable commodity and he is correct, but right now a lot of time is being wasted. We can’t, and won’t, ever get that time back.
So the government solution, even if it was well intentioned, is to print up a bunch of money nobody worked for and send it out to all the people sitting on their hands. This has to result in inflation, I can see no other way. The productivity that should be associated with new money isn’t there. It could also have long lasting social impacts because the recipients aren’t going to take kindly to the money being turned off. If you think the riots in the US are bad now, wait until August.
———————-
Speaking of riots, does anybody really think looting and arson is really the proper way to protest police brutality? Burning your own town down? People are angry, and they have been angry for a long time, but many of the businesses they are destroying are owned by minorities. This is about something different. It must be considered that not all people are “good” by nature. Otherwise we wouldn’t need police. There are always “bad” people among us, who follow the rules only out of fear of getting caught and punished. Times like these are when they see opportunity. So somehow we come to the state where the media describes people who are against the lock-downs as “unhinged extremists” but people stealing TV’s and starting fires are “moral protesters”.
The end of western civilization, at least as we knew it, appears to be upon us. What comes next may be a military dictatorship, which people will welcome because they are tired of their cities being torched and looted, their women being kidnapped, and gun-fighting in the streets. The most important decision to watch will be who Joe Biden selects for VP. I think this rising unrest may be the thing that finally ends Trump’s chances at re-election as he has to call in the national guard and the army but it won’t work, all that will happen is the bodies will pile up. Biden is of course unfit for office now and there is no way he’ll survive 2 terms. Whoever he picks for VP will be the dictator. And probably the anti-Christ.
One final thought, Garth’s theory that the suburbs and rural settings look a lot more appealing now than a downtown condo can probably be clearly understood by everyone looking down from their Minneapolis condos at the carnage below. If you have the means, get out of the cities. Get out now. Word has already spread that there aren’t enough police to even protect their own precinct buildings from destruction. The mob has been emboldened and now has the upper hand. Get as far away from them as you can.
To beat the banks, own the banks.
—Doug
—————————————————————–
Exactly. RBC, TD, CIBC, BNS and Na are down an average of 23% from their highs. Lots of upside yet. Buy the banks or XFN which is down 25% from its high.
Boy did Garth pick the right time to blow off out of the big smoke. NS looks heavenly right now.
https://www.msn.com/en-ca/news/canada/protesters-rally-in-toronto-against-anti-black-indigenous-racism/ar-BB14Nu2b?ocid=spartanntp
#43 Sail Away on 05.30.20 at 6:14 pm sez:
“Yes, the chum is an exquisite mixture of benevolence, tolerance and love for humanity.
Unfortunately, my love sometimes spills in a direction that enrages others. Such as showing tolerance for the wrong group…
Sigh…”
—————————————
You’re fine, you have a great gift for ferreting out the “victims”.
Ontario is being run by Dr. David Williams. Wanna bet the lockup gets extended past June 9? Some business are still breathing, gotta make sure they are dead.
https://www.youtube.com/watch?v=m4UG-0HqP1E
57 not 1st on 05.30.20 at 7:47 pm
The protests look peaceful and lawful.
Don’t confuse Toronto with Minneapolis.
MF
Had a COVID-19 test on Friday and am waiting results.
WIFE- That wasn’t bad, only a tickle.
ME- Oh my God, they scraped the inside of my skull with sandpaper on the end of a twelve foot Q-tip.
My mother always said I was dramatic.
Should come to Australia. All the ‘know it all’ DIY retirees built their portfolios on about 10 stocks (4 banks) and couple of bank listed hybrids to act as bonds. I’ve had arguments with these people trying to explain the risk to no avail.
Now their portfolios are down 25% as there hasn’t been much of a recovery in the financials and their ‘like bonds’ hybrids performed like bonds up until the crisis, then dropped like stocks. Many bank dividends have either been cut or deferred and now seniors lobbyists are screaming that the government should send millionaires money because their dividends were cut!
Nice post. A lot of companies are trying to conserve their cash because it is not known when a vaccine will be found, manufactured and distributed widely. Several years at the earliest in my opinion because billions of vaccines will have to be produced and distributed. This is also a good reminder that ETFs have good and bad companies in it and now is the time to be selective.
#46 crowdedelevatorfartz on 05.30.20 at 6:47 pm
@#40 Perturbed Ponzie
“What’s so special about the Melon Rocket?
Can’t even take off when there is a 20 mile an hour wind.”
+++++
Ah yess.
Those dependable V2 rockets set the stage for Herr Von Braun to escape to the US and continue with bigger rockets.
—————-
The US were just lucky to get Wernher Von Braun and other Nazi rocket scientists before the Russians snapped them up.
Otherwise, the Russians would have been the first on the moon.
I don’t know how long ago it was, let’s go with 3 or 4 months ago, that I said that Joe Biden should pick Kamala Harris as his V.P
Nothing I have seen the last week changed hat opinion.
Even though they don’t necessarily need some of her attributes as they already have the vote covered, it could help after what happened last time.
Blackish and Brownish.
Female.
55 years old, (not a dinosaur)
West coaster.
Ticks a lot of boxes.
So I guess they’ll find a way to mess it up and go with one of the Golden Girls…
M45BC
Who is going to pay for all the handouts, “You Are”
Retained Earnings Ineligible Dividends held by small business owners.
Capital Gains stock market, outside of RRSP & TFSA
Increased CPP & EI premiums
Federal, Provincial, Municipal, taxes going up, 20-30%
combined, remember governments are broke, so expect
more Carbon Taxes from the Fed.
COVID, so yesterday.
Flop’s Topical Song of the day.
Carlos Santana
Maria, Maria…
M45BC
A snippet.
“Stop The Looting, Stop The Shooting, Pick Pockets On The Corner. See As The Rich Is Getting Richer The Poor Is Getting Poorer. Me And Maria On The Corner Thinking Of Ways To Make It Better In My Mailbox There’s An Eviction Letter Somebody Just Said See You Later.”
https://m.youtube.com/watch?v=nPLV7lGbmT4
#58 Bytor the Snow Dog on 05.30.20 at 7:54 pm
#43 Sail Away on 05.30.20 at 6:14 pm sez:
“Yes, the chum is an exquisite mixture of benevolence, tolerance and love for humanity.
Unfortunately, my love sometimes spills in a direction that enrages others. Such as showing tolerance for the wrong group…
Sigh…”
————–
You’re fine, you have a great gift for ferreting out the “victims”.
————–
Always fun watching the ragers rage.
Such inability to recognize their own intolerance. I think someone even wrote that it’s impossible to be racist toward whites, haha.
So… love thy neighbour… or, love thy neighbour only if they are of a certain ethnic class? So many questions.
#45 crowdedelevatorfartz on 05.30.20 at 6:36 pm
…. if you recognize the young, well dressed lady with the agile foot sweep.
———————-
Ming on the loose after the great cello case escape.
#43 Sail Away on 05.30.20 at 6:14 pm
#29 IHCTD9 on 05.30.20 at 4:49 pm
#20 Faron on 05.30.20 at 4:08 pm
#6 Sail Away on 05.30.20 at 1:36 pm
I absolutely agree with Trudeau about racism and am vehemently opposed to anti-white racism
—————-
Anyone who has to expressly state opposition to anti – white racism in the US as their first claim on race related issues is vile. I know you think you are stirring the pot and or taking a “brave” minority view. In actuality you are joining voices with a cowardly, fearful, backwards and racist group too afraid to be overtly hateful towards minorities but too mired in the MAGA glory days when the only voices were white to be anything but contemptible if not white nationalist.
—————–
Or he was hanging a little red meat for the eyeball launchers.
Sail evidently mixes an irresistible chum.
3 and counting…
Welcome to the Internet.
—————-
Yes, the chum is an exquisite mixture of benevolence, tolerance and love for humanity.
Unfortunately, my love sometimes spills in a direction that enrages others. Such as showing tolerance for the wrong group…
Sigh…
——
Just do as I do – identify as a post-racial non binary peoplekind with great hair. Then you will be unclassifiable, and thus unassailable. Plus good looking.
Now you can hold any opinion you like, and no one will say a thing :).
When I did this, I felt the love immediately…
on a lighter note:
Talking about rockets.
Netflix has a new series called “Space Force”.
A spoof on the American Space Program.
Fartz,
You may just find it funny.
67 Flop – Santana at woodstock
https://www.youtube.com/watch?v=AqZceAQSJvc&app=desktop
I wonder how many of the 400,000 collect bank dividends?
#70 IHCTD9 on 05.30.20 at 9:38 pm
Just do as I do – identify as a post-racial non binary peoplekind with great hair. Then you will be unclassifiable, and thus unassailable. Plus good looking.
Now you can hold any opinion you like, and no one will say a thing :).
When I did this, I felt the love immediately…
————
Haha. Very good!
On the outskirts of GTA you see the massive outside inventory of new cars, trucks, RVs, ATVs and boats. Many have banners, We are Virtually Open.
Ya ok I got a fistful of virtual dollars for you. Right after the virtual test drive.
(Where are the customers’ yachts ;-) )
But seriously one wonders who will be buying this year.
Which is why a Dodge dealer is advertising 0% financing for 84 months. Or .99% for 96 months!
That’s, like almost free right?
Hold out for the truck nutz package. Negotiate hard for that.
#35 Watertower on 05.30.20 at 5:30 pm
thank you Doug for a great post. In particular I appreciate your closing words. More so than ever what it means to be “low income” is so poignantly clear in terms of lack of security and safety in every sense.
Faron – thank your for articulating so clearly that racism is about an institutionalized view that because of someone’s difference (skin colour, gender) they deserve less; they are worth less. This is why a white man can never claim to suffer from anti-white racism. The institutions of the powerful were built to privilege white men but we are fortunately moving bit by bit toward a more inclusive society in Canada.
********************
“Never”?
As someone who spends a lot of time in SEA and plans to retire here, I can assure you that racism, ironically, doesn’t discriminate based on color.
Sad sad sad…
Went to our local WINGS restaurant with friends of ours…
Good deals…great service…great meals and drinks.
There where about 4 other people there….and this is a Saturday night.
This will not end well.
Sure glad FLOP was able the keep his writers ….including Phartzy.
#3 crowded. No I don’t do politics.
They are political actors of course.
“You’re fired” – ok Mr. T.
I do capitalism. What’s left of it.
T3 here we come next round get ready in your retirement.
Trudeau sits perched atop one of the highest points of the mountain of nepotism and so-called white privilege and he has the audacity to lecture the rest of us
DELETED
#58 Bytor the Snow Dog on 05.30.20 at 7:54 pm
#43 Sail Away on 05.30.20 at 6:14 pm
I know a troll when I see one and crap when I smell it. My statement stands. You’ve been leaking mildly racist comments here for three days sailboat.
Bytor, I’m a middle aged white guy living in one of the most prosperous nations on earth with great friends and family and enough dollars to stay afloat. I’m lucky AF and recognise it as such.
Happy Sunday everyone.
Pozius Pilatus # 49
“I think it’s time to start betting against America.
The old sage is already selling off and the coward is hiding in the White House pretending to be Churchill.
What I see happening in the streets of the US will take years to forget and repair.
Violence begets Violence.”
*******************
Your “Churchhill” in the White House hasn’t done much to qualify. No drinking or cigar smoking. No speechifying. A few lame tweets. That’s about it.
We are being sent a message. And the message has nothing to do with the murder of George Floyd. He was merely the catalyst.
It’s the same message Nancy Pelosi sent us when she tore up Trump’s State of the Union speech in February. Ripping up that speech and what it stood for was a symbolic act. For what soon followed? – Lockdown and economic annihilation. And now the looting and burning of the cities.
This chaos is sweet victory for the communists, anarchists, Antifa, and the more radical elements within Black Lives Matter. Bernie Bros probably mixed in there as well. Don’t forget who these people are. They want revolution. Burning, violence and destruction of civil society always precedes revolution. These are Pelosi’s people.
The police brutality protests have swiftly morphed into a well orchestrated national campaign of domestic terrorism. Pallets of bricks dropped off in front of high end stores. Brick ’em, loot ’em, and burn ’em. In that order.
The raging fires are not the result of angry drunks, stoners, or your average neighborhood firebug. Because these guys very often end up lighting themselves up along with the building. No. The huge, successful conflagrations are the work of skilled teams of arsonists. Some disable the sprinkler systems while others deploy the chemical incendiaries.
How complicit in this destruction is the Minneapolis mayor or the governor of Minnesota, who for days ordered the retreat and stand-down of the police, fire fighters, and the National Guard? The virtue signalling mayor of Nashville invited the protestors for a rally with him and later that evening the same people burned down his city hall.
Now they’re blaming white supremacists for the mayhem. Nice try. Why would white supremacists be rioting in the streets over the death of a black man? Can someone please explain this? Wouldn’t they be at home cracking a beer?
The stage is being set here for whoever the democrats install as Biden’s Vice Presidential pick. This person will be trotted out and be seen to magically calm the flames of hatred.
In reality, it won’t take magic. The democrats will simply call off their ultra violent leftist organizations who are in charge of the current street drama you see. The blacks who’re rioting and looting? They’re just running cover, the smoke screen for the true evil.
Biden’s mind left us long ago for greener pastures. Or for whatever color the trees are in his world. So the chosen VP will in fact be the defacto President of the USA. And then, in short order, the actual president.
That’s the plan anyway. We’ll see how it plays out. If this political ploy fails and Trump’s poll numbers stay too threateningly high, if the democrats view the election as lost – then we are all in some SERIOUS danger. At that point the democrats may well decide to go full scorched earth.
#81 Faron on 05.31.20 at 2:48 am sez:
“#58 Bytor the Snow Dog on 05.30.20 at 7:54 pm
#43 Sail Away on 05.30.20 at 6:14 pm
I know a troll when I see one and crap when I smell it. My statement stands. You’ve been leaking mildly racist comments here for three days sailboat.
Bytor, I’m a middle aged white guy living in one of the most prosperous nations on earth with great friends and family and enough dollars to stay afloat. I’m lucky AF and recognise it as such.
Happy Sunday everyone.”
——————————————————–
So you attribute your success to the fact that you’re a white guy or to hard work?
I’m gonna tell you a little story.
I have a brother who by all accounts should be relatively successful. White, mid 50’s, intelligent, and very personable, some would say even charming. Gets women very easily.
He’s a three time divorce loser, can’t hold a job, has no money, no pension, and is about to be homeless.
Why? Because he’s a perpetual victim and drama factory. Nothing is ever his fault, it’s “always happening to him”.
Do you get my point?
Susan Rice would be the ideal running mate.
The way things go it would be Condoleza Rice instead.
Kamala has underlying petty temper/vendetta issues.
Does this posting get the small while stripe through the top?
The use of printed currency to purchase goods is almost over. In parts of China every type of transaction is done with a scan of a symbol on your cell phone. Funds are electronically transferred into your account and deducted by showing your unique symbol to a screen linked to a computer network. Like a debit card only only one symbol on your phone covers everything you need.
This got me to thinking about the future of banks that earn billions of dollars by charging fees each time one of their customers initiates a transaction. All deposits and withdrawals can be accomplished electronically so the employment of human tellers at buildings owned or leased by a bank and the use of an ATM to access or deposit funds is definitely on the way out.
The Government of Canada is increasing their role in the insurance of all kinds of collateralized debt obligations and unless they have some kind of secret agreement with financial institutions they should place strict limits on the fees associated with the expansion of debt and the amount of debt that can be issued and securitized.
At some point our elected representatives will begin to question the role of financial institutions as we emerge from the Covid 19 fiasco. When you measure the profits being earned by financial institutions against their actual exposure to risk in today’s environment something doesn’t add up. Wrapping up debt obligations initiated by financial institutions into various forms of securities that end up being purchased and insured by the Government of Canada has effectively turned financial institutions into agents of the Crown.
This may be a temporary situation or the relationship could expand as efforts to stimulate our economy are ramped up. All that can be said for sure is that a significant amount of risk is being transferred away from financial institutions.
My point is that the function of financial institutions in Canada is definitely changing and with change comes the possibility that the ability to generate profits at historical levels may also change. A belief that financial institutions will continue to spin healthy dividends in the face of unprecedented changes to traditional relationships seems just a touch Panglossian to me.
We are all anxious to see what emerges from the fiasco generated by Covid 19
@81Faron-you express a lot of sympathy and solidarity with the rioters and looters but you wouldn’t be saying that if your family or your property was in danger of attack-then you would be squealing for the cops or army or anybody to save your little cowardly butt.
#81 Faron on 05.31.20 at 2:48 am
#58 Bytor the Snow Dog on 05.30.20 at 7:54 pm
#43 Sail Away on 05.30.20 at 6:14 pm
I know a troll when I see one and crap when I smell it. My statement stands. You’ve been leaking mildly racist comments here for three days sailboat.
—————–
Really? You’re doubling down?
This might help, child: treating all races in equal measure is not racism. It’s not even mild racism. Something quite different, actually.
But you, the holy crusader for injustice that only you are enlightened enough to spot, toward people who don’t want your help and almost certainly hold you in mild contempt, feel comfortable saying things like:
“you are joining voices with a cowardly, fearful, backwards and racist group too afraid to be overtly hateful towards minorities but too mired in the MAGA glory days when the only voices were white to be anything but contemptible if not white nationalist.”
…and Faron, by the way? I’m Hispanic. Venezuelan, actually. Pendejo.
#82 Sky on 05.31.20 at 6:43 am
I have NEVER seen a post so absolutely full of crap as yours on this blog.
EVERY SINGLE point that you spewed is complete and utter B.S.
EVERY ONE.
Something is clearly very wrong with you.
Seek professional care.
Faron
The institutions of the powerful were built to privilege white men.
—
What exactly are the “institutions of powerful” in Canada?
How ezaxtly are they built to privilege not only white, but also, specifically men?
As someone pointed out, “Trudeau sits perched atop one of the highest points of the mountain of nepotism and so-called white privilege”.
What are the “institutions of powerful” that “were built to white men” and he is relying on?
Trust fund? The Liberal Party of Canada?
@ Ramshackle # 88
Sorry to rattle your chains. I guess I’ll just have to rebut the cogent counterpoints you made. Oh, wait… There weren’t any. :-)
I love how the MSM lectured us on the importance of Social Distancing-how those defying the lockdown and wanting to work were actually “Terrorists”-now overnight Social Distancing doesn’t matter as the corrupt MSM cheers on the animals looting and pillaging.
#82 Sky
I totally agree with you.
BTW, I am Cuban, most of the Cuban I know will vote for Trump. Rioters are not really protesting the murder of a black person, they are just creating chaos.
Democrats and liberal forces just want power and control, Problem is that it will ultimately destroy a prosperous country like they did in Cuba and Venezuela.
#87 Sail Away on 05.31.20 at 8:24 am
#81 Faron on 05.31.20 at 2:48 am
#58 Bytor the Snow Dog on 05.30.20 at 7:54 pm
#43 Sail Away on 05.30.20 at 6:14 pm
I know a troll when I see one and crap when I smell it. My statement stands. You’ve been leaking mildly racist comments here for three days sailboat.
—————
…and Faron, by the way? I’m Hispanic. Venezuelan, actually. Pendejo.
—- – –
Wait just one minute here! You own a profitable engineering company, expensive real estate, have a boat load of money, drive a 100k+ TESLA and enjoy expensive hobbies like sailing…
…and you’re not white!?!?!?
I am the walking definition of an Aryan, and don’t have any of that stuff! Where the hell is my privilege?!
Someone put Faron in charge ASAP so we can get this mix up straightened out!
looks like americans have finally had enough.
@Faron, I highly recommend that you stop feeding the trolls. You are not and will never have a genuine discussion in your attempts to “debate” with them. They get off trying to rile you up and then put you down. Don’t give them the satisfaction please! They have a need to hang out here every day, disparaging and boasting, as something really big is missing from their world. Figure out what is missing from yours, then maybe you will lose the desire to participate in the so-called “comments”. There are lots of places to have mutually sincere, thoughtful and respectful dialogue — this isn’t one of them.
#25 Stop Racist Police Terror
Let us all profit from our collective efforts, let us all earn dividends from a society where there are no race-based advantages or discrimination.
——————————————————————–
I think that’s the plot of a ’60s Star Trek episode!
https://www.youtube.com/watch?v=PvqDkPhD3jU
@#64 Pugnacious Prattle.
” Otherwise, the Russians would have been the first on the moon.”
++++
I thought you knew…..
Actually the Nazis were there first.
https://www.youtube.com/watch?v=Py_IndUbcxc
#88 Ramshackle on 05.31.20 at 8:33 am
—
Well a 30 city perfectly orchestrated protest just mere days after the incident doesn’t peak your interest? And the protestors doing exactly the same thing at each location?
That takes some serious planning and organization with some agitators and provocateurs thrown in for good measure.
#62 Mark
Many bank dividends have either been cut or deferred and now seniors lobbyists are screaming that the government should send millionaires money because their dividends were cut!
——————————————————————-
So?
Millionaires Lives Matter!
Who cares about dividend cuts ? Total return is the only thing that matters.
How convenient. [email protected] wars & protests are being stirred up in USA and Canada – at the same time. What are the chances folks. It’s not like there is a script or a timeline or anything like I’ve been saying,
Say I was wondering what conditions, as in how horrible, must be created by (cough, the government) in order that Bank of Canada’s new currency be launched?
What if Bail in has nothing to do with banks but to do with new currency? That’s just speculation on my part.
Exchange your old Kanadian Pesos for New Convertable Pesos. (Hi Cuba!)
…
“Bank of Canada to create its own digital currency as ‘contingency,’ deputy says. The country’s central bank plans to lay the foundation for its own digital currency as a backstop should the day arise where cash is no longer king, a Bank of Canada deputy says.Feb 25, 2020”
#82 Sky keep an eye on the sly INSURANCE companies. I just know they will be playing a key role soon, trying to see how. Will be in denying rural coverages, as services get shuttered, and forcing people into cities?
Will it be them jacking up premiums for Bricks and Mortar businesses in wake of mass riots, further hurting small business? Or all of the above.
Add the “Green” (as in money) and climate clauses, carbon taxes, and yes insurance will become a formidable economic weapon.
Remember this, every system is being turned against us.
Criminals being released; landlords losing property to squatters; non-workers being paid more than workers by the government cheques. The grand inversion, leading to the New System, is here.
#76 Lost…but not leased where?? In my region of Kanada we do not have rights to sit down inside an eatery. Or outside on benches or patios.
None are open. They are still being steamed into debt patties by our UN-backed Provincial government. Which magical prefecture are you living in? Did your Block Captain question the nature of your visit and record your name? Or did giving them a small ‘gift’ aid your passage? I need tips man.
#85 Do we have all the facts on 05.31.20 at 7:45 am
When you measure the profits being earned by financial institutions against their actual exposure to risk in today’s environment something doesn’t add up…
…A belief that financial institutions will continue to spin healthy dividends in the face of unprecedented changes to traditional relationships seems just a touch Panglossian to me.
—
Have you measured their profits versus their “actual exposure to risk” (whatever that means)? It only doesn’t “add up” if you prove that it doesn’t add up.
Never trust a seven-paragraph post that gives zero supporting data. Or someone who says “Panglossian”.
–Doug
#87 Sail Away
Just spit out my coffee. Hat tip.
interesting times indeed….
#55..nonpulsed
#82..sky
#88..ramshackled
I thought #55 had an excellent observation of what is going down right now…a lot of the unrest is planned by handlers who provide the means to supply enough “bad guys” to start the unrest and let the situation race out of control facilitated by local democratic gov’t making lame initial response decisions (as they always do).. the fake news picks it up and runs with it 24/7…I suppose that’s why there will always be a “them” and “us”…I don’t think it’s the end of the (american way of life) road yet…Trump has enough support from the “us” bunch to win re-election, even if the whole country was on fire Nov 1
#87 Sail Away on 05.31.20 at 8:24 am
…and Faron, by the way? I’m Hispanic. Venezuelan, actually. Pendejo
Venezuelano? … Chevere Chamo!
I knew there was a reason I liked your style.
#92 Ernesto on 05.31.20 at 9:29 am
#82 Sky
I totally agree with you.
BTW, I am Cuban, most of the Cuban I know will vote for Trump. Rioters are not really protesting the murder of a black person, they are just creating chaos.
Democrats and liberal forces just want power and control, Problem is that it will ultimately destroy a prosperous country like they did in Cuba and Venezuela.
—————
Yes. To some of us, socialist massive debt leading to economic collapse is not just some esoteric concept. It happens.
But I should probably let the pendejo Faron speak for me since he is such a champion of minorities.
#93 IHCTD9 on 05.31.20 at 9:31 am
#87 Sail Away on 05.31.20 at 8:24 am
#81 Faron on 05.31.20 at 2:48 am
#58 Bytor the Snow Dog on 05.30.20 at 7:54 pm
#43 Sail Away on 05.30.20 at 6:14 pm
I know a troll when I see one and crap when I smell it. My statement stands. You’ve been leaking mildly racist comments here for three days sailboat.
—————-
…and Faron, by the way? I’m Hispanic. Venezuelan, actually. Pendejo.
—————-
Wait just one minute here! You own a profitable engineering company, expensive real estate, have a boat load of money, drive a 100k+ TESLA and enjoy expensive hobbies like sailing…
…and you’re not white!?!?!?
I am the walking definition of an Aryan, and don’t have any of that stuff! Where the hell is my privilege?!
Someone put Faron in charge ASAP so we can get this mix up straightened out!
—————-
It’s almost as if my ethnicity was a benefit here! Don’t tell the SJWs. That wouldn’t fit their stereotype.
If there’s one thing I absolutely can’t stand, it’s some privileged a-hole sanctimoniously assuming they speak for minorities. Can’t think of anything more condescendingly sanctimonious. A big reason I find Trudeau so irritating.
All I pointing out is that the role of our financial institutions is rapidly changing as all forms of assets are converted into securities and moved on. The banks still increase money supply by issuing debt but a substantial portion of that ends up with the Government of Canada and the investors through the purchase of various forms of collateralized debt obligations.
It is my opinion that the transfer of risk to the Government of a Canada and other investors through the increased application of CDO’s will eventually reduce the current profits earned by all financial institutions. Just an opinion that requires time to evaluate.
Not a fan of Voltaire is see!
95 PsychMajor on 05.31.20 at 9:54 am
A great comment.
The troll:normal ratio has been thrown off here since the pandemic began. However it was bad to begin with.
Faron does a good job but unfortunately will eventually tire like the rest of us dealing with the trolls all day.
This blog’s comments section is another victim of the virus, sadly.
TurnerNation: please stop posting already. Your posts are like graffiti at the front entrance of this blog.
Not 1st: like I said earlier, and the issue is irrelevant, but some peaceful protests in Toronto did not equal what is happening to the country you want to join down south. All that glitters is not gold.
MF
Coronavirus delivered a stinging left upper-cut to small businesses in America.
Looting and arson delivered an over the top right hook to the temple, when the owners were in the defensive position.
They will not get back up off the canvas in time…
M45BC
103
I went out for breakfast today in a restaurant, went to a pub on Friday night for dinner. Perhaps you need to get out more it is a big world out there.
On a side note I started to close out my USO calls now, turned $2600 in cheap calls in March to $60k in profits.
Keep watching Ericsson.
@#95 Former PsychMajor now a Barrista
“There are lots of places to have mutually sincere, thoughtful and respectful dialogue — this isn’t one of them.”
+++
Until I get my free pink T-shirt. I refuse to debate you.
#95 PsychMajor on 05.31.20 at 9:54 am
Thanks, that’s excellent advice. Cheers.
Trump just said ANTIFA will be designated as a Terrorist Organization-this might be big as ANTIFA is basically an arm of the Democratic Party in the USA-(the Attorney General of Minnesota is photographed promoting the ANTIFA handbook). Never a dull moment.
America always has been and always will be the greatest show in the history of the world.
Rome comes in a pathetic and distant second
#112 Flop… on 05.31.20 at 12:33 pm
Coronavirus delivered a stinging left upper-cut to small businesses in America.
Looting and arson delivered an over the top right hook to the temple, when the owners were in the defensive position.
They will not get back up off the canvas in time…
===================================
Never underestimate the resilience of the hardworking American small businessperson.
They have only just begun to fight…
#87 Sail Away on 05.31.20 at 8:24 am
#81 Faron on 05.31.20 at 2:48 am
#58 Bytor the Snow Dog on 05.30.20 at 7:54 pm
#43 Sail Away on 05.30.20 at 6:14 pm
I know a troll when I see one and crap when I smell it. My statement stands. You’ve been leaking mildly racist comments here for three days sailboat.
—————–
Really? You’re doubling down?
This might help, child: treating all races in equal measure is not racism. It’s not even mild racism. Something quite different, actually.
But you, the holy crusader for injustice that only you are enlightened enough to spot, toward people who don’t want your help and almost certainly hold you in mild contempt, feel comfortable saying things like:
“you are joining voices with a cowardly, fearful, backwards and racist group too afraid to be overtly hateful towards minorities but too mired in the MAGA glory days when the only voices were white to be anything but contemptible if not white nationalist.”
…and Faron, by the way? I’m Hispanic. Venezuelan, actually. Pendejo.
===================================================
Ha! Colombian bro-in-law and my sister lived in Caracas 1995-2006. Left when it started getting bad, but of course is way worse now. Lots of Venezuelan pilot colleagues from Dubai still working there. Worried all the time about their families still there and desperate to get them out.
As far as Faron…I get that all racism in North America is framed in terms of US slave history and the current convulsions. But anyone who thinks that racism doesn’t exist towards whites has never lived in Asia, Africa, or the Middle East.
Your rant just sounds pathetically uninformed.
#95 PsychMajor on 05.31.20 at 9:54 am
@Faron, I highly recommend that you stop feeding the trolls. You are not and will never have a genuine discussion in your attempts to “debate” with them. They get off trying to rile you up and then put you down. Don’t give them the satisfaction please!
They have a need to hang out here every day, disparaging and boasting, as something really big is missing from their world. Figure out what is missing from yours, then maybe you will lose the desire to participate in the so-called “comments”. There are lots of places to have mutually sincere, thoughtful and respectful dialogue — this isn’t one of them.
———–
Troll? Let’s examine:
1. I put out a call to stop racism toward a group of certain ethnic persuasion. Nothing more.
Specifically, “I absolutely agree with Trudeau about racism and am vehemently opposed to anti-white racism.”
2. Faron responded:
“Anyone who has to expressly state opposition to anti – white racism in the US as their first claim on race related issues is vile…
….you are joining voices with a cowardly, fearful, backwards and racist group too afraid to be overtly hateful towards minorities but too mired in the MAGA glory days when the only voices were white to be anything but contemptible if not white nationalist.”
Does this sound like Faron was, in your words, carrying on a ‘mutually sincere, thoughtful and respectful dialogue’?
Hmmmm…. almost indefensible, but… you go, girl!
#111 MF on 05.31.20 at 12:27 pm
95 PsychMajor on 05.31.20 at 9:54 am
I am willing to own up to my role in upping the Troll:normal ratio. I stand behind my words but also regret souring the discourse here to the extent I have.
My heart is with all who are experiencing violence in the US right now — both demonstrators and police. This is tragic and very hard to watch as a native of one of the affected cities. The US is further wounded which will be to the peril of many worldwide.
#121 Faron on 05.31.20 at 3:58 pm
—————
All good; no harm, no foul. Until next time ..
91 BrianT on 05.31.20 at 9:22 am
I love how the MSM lectured us on the importance of Social Distancing-how those defying the lockdown and wanting to work were actually “Terrorists”-now overnight Social Distancing doesn’t matter as the corrupt MSM cheers on the animals looting and pillaging.
———————————————————–
Isn’t that the truth?
The effects of fiat currency have come home to roost. Buy bitcoin, restore capitalism.