The nothing burger

The financial media briefly had a cow yesterday when Canada lost its perfect credit rating. This blog chose to bury the news in a riveting post about, well, we forget the topic. Anyway, it was outstanding.

Why kinda ignore the Triple-A thing?

Because it was so inevitable. We may be the first western economy to get slapped around by a bond-rating agency over Covid, but nobody here should be surprised. The Trudeau government has spent more money than Drake did on his new bathroom – a deficit of maybe $300 billion by the time the year’s out. The accumulated debt will pass $1 trillion. Mr. Socks-&-Whiskas will go down as the spendiest PM ever.

In response to the news from Fitch the Canadian dollar swooned a little, but shrugged it off. The next day Bay Street had already forgotten, and stocks traded higher. Bond yields actually went down, which was the opposite of normal. Downgrades should mean higher interest rates. Not this time.

The raters said this: “Pandemic lockdown measures and depressed global oil demand will cause a severe recession of the Canadian economy.” Our debt-to-economy ratio will zip from 88% to 115%. So, yes, the country’s finances are starting to look just as pooched as those of most Canadians.

But wait. This sounds serious. So why is even the Parliamentary Budget Officer – a wily, suspicious, dark and rebellious figure – saying, “it’s not that big of a deal in my opinion, and not something that comes up as a big surprise”?

Because it’s not. We keep an AA rating with Fitch and a better one with the other two big credit-rating agencies. Ottawa will have no more difficulty flogging its debt. The dollar wasn’t too whacked. Of course, long-term, somebody has to shell out to pay the servicing costs on over a trillion in debt, but the Boomers couldn’t care less. It won’t be them.

So if Mr. Market isn’t vexing over credit ratings, historic debt and your financially-eviscerated grandchildren, what’s the focus on?

The restoration of economic activity. Period. Jobless claims numbers in the US announced on Thursday were okay. No big surprises. The virus is ripping through a few US states faster than anticipated, but that has not seriously stopped any of those regions from lifting social and business restrictions. In Canada the Royal Bank is lauding Trudeau’s CERB bucks, saying that they’ve moved us towards a “V-shaped recovery,” – exactly what the stock market’s been telegraphing.

Latest stats show a surge in consumer spending in the fist half of this month, as eight million people took their two-grand-a-month pogey and blew it. “We didn’t expect it to come back that fast,” says the bank’s CEO. “We’re positively surprised…”

No wonder. So far CERB has flowed more than $52 billion into the hands of those who claim to have been impacted by the virus – lost incomes, sickness, caring for others or child support. The impact has been astounding – from an average -25% income drop before CERB and when Covid hit, to a +16% jump in cash flow and a hike in spending.

“They are actually helping to simulate the economy with some of the extra cash flow,” the bank boss told a certain TV network that you should never watch (BNN). “So, from that perspective, you’re seeing those CERB recipients continuing to spend and not just save the money.”

Of course, it’s what Canadians do. Spend. Forget savings or paying down the debt that creamed you in the first place. The tat parlours are open again. How can you not go?

Well, there is a problem, however. The economic recovery may be moving ahead and will gather much more speed when Ontario lifts its state of emergency order and travel restrictions ease, but what about when the CERB ends? What happens to people making more moolah staying home than going to a job? After all, a husband and wife both on the Trudeau virus dole, plus collecting enhanced CB for a couple of kids can have a monthly (untaxed) income of almost $5,000. No daycare costs, either. No commuting. Not princely. But not poverty. Enough to ignite a V-shaped spending boom, apparently.

It’s also enough for people running restaurants, grocery stores, pizza palaces, factories and retail outlets to have jobs go begging. Enough for students to work a few weeks then quit to collect during the rest of the summer. Enough to do serious damage to the work ethic. Just as masks and distancing are shredding the social one.

The dawn is coming, yes. Do not discount the cost.

About the picture: “I’m a long time reader and fan of your wit and wisdom,” writes Enzo. “We’re tucked away in the southern gulf islands between YVR and Victoria weathering the storms comfortably thanks to your sage insights.  My nephew sent me this photo and claimed that it was taken after the brushing.”

147 comments ↓

#1 MK on 06.25.20 at 2:54 pm

a family can make $60K/yr from the government to sit around. But of course many won’t. They’ll work under the table for cash and walk away way ahead of the game. You try and do things the right way and get punished.

#2 Long-Time Lurker on 06.25.20 at 2:54 pm

Class-action lawsuit against Seattle says city has supported ‘destructive occupation’ of downtown

The mayor has given her ‘de facto stamp of approval,’ plaintiffs argue

A lawsuit brought by residents and business owners of Seattle argues that the city’s government has actively enabled the forcible occupation of several blocks of the city’s downtown, an area which was seized by progressive activists earlier this month and labeled an “autonomous zone” ostensibly outside of U.S. jurisdiction.

The Capitol Hill Autonomous Zone, commonly identified as “CHAZ,” was established on June 8 as part of a nationwide movement in response to the May 25 death of Minneapolis resident George Floyd in police custody.

Seattle police abandoned the area’s precinct shortly before the zone’s establishment – after which activists erected a walled perimeter around the zone and closely controlled entrances and exits.

Now multiple “residents, tenants, property owners, and small businesses” have filed suit against the city, claiming that authorities facilitated the seizure of municipal property “to the detriment of the well-being of those who live and work in that neighborhood.”….

https://justthenews.com/government/local/class-action-lawsuit-against-seattle-says-city-has-supported-destructive

#3 binky barnes on 06.25.20 at 2:56 pm

Hope the weather is good for you and Dorothy down east this summer, Garth.

And thanks for all that you do for us blog dogs.

BB

#4 Dolce Vita on 06.25.20 at 3:04 pm

I admire the verve of today’s Blog. Really I do.

Some bitter reality follows (as in how deep the hole is to dig out of).

StatCan today on payroll:

“Following a decline of almost one million payroll jobs in March, payroll employment fell by an additional 1,830,200 (-11.4%) in April, bringing total losses since February to 2,769,500 (-16.3%).”

Yup, the money is from CERB, it’s not from payrolls that for sure.

And more mirth from StatCan yesterday on GDP:

“A flash estimate of gross domestic product (GDP), released by Statistics Canada in late May, projected an 11% decline in real GDP in April, following March’s 7.2% decrease.”

And as for the Royal Bank (“…the Royal Bank is lauding Trudeau’s CERB bucks…”),

Lay off GANJA.

————————–

“The virus is ripping through a few US states…”

Ya just 29 of them. No biggie.

Give me Liberty, or Give me COVID.

https://www.npr.org/sections/health-shots/2020/03/16/816707182/map-tracking-the-spread-of-the-coronavirus-in-the-u-s?t=1593111412969

PS:

Mexicans heard South of the border yelling:

“Build that wall, build that wall.”

#5 Dolce Vita on 06.25.20 at 3:11 pm

PS, PS:

On the “just a few states”…it’s going SO WELL that New York is going to basically QUARANTINE all the other:

47 lower states.

8 so far but Cuomo’s on a roll. Give him a chance, he’ll see the wisdom of adding more States to his dung list.

#6 Faron on 06.25.20 at 3:20 pm

About the picture: …

Enough about your haircut, when does Bandit get his trim?

#7 Dolce Vita on 06.25.20 at 3:23 pm

One last salvo:

“Atlantic provinces have come together to allow residents to travel freely within their ‘bubble.’ Todd Battis reports on how it will work.”

Good to read you’re IN THE BUBBLE Garth.

https://www.ctvnews.ca/video?clipId=1983920&jwsource=twi

Face it ON and PQ, the REAL East, not so fond of you.

Waiting for a Prairie Bubble…

#8 Overheardyou on 06.25.20 at 3:24 pm

On a more serious note. The ecom company I work for had a record April in sales, great May sales too. However, It’s tanked 60% from peak this month.

#9 Linda on 06.25.20 at 3:41 pm

Todays blog photo – now there is someone who needed a haircut:)

The dawn is coming yes & it will be a RED sky in the morning. Joint community call last night with our local civic councillor. Discussion of funding issues related to Covid, moving towards reopening of more civic facilities including community halls. On the plus side, finances for the communities are better than expected thanks to government grants, though there are concerns over paying upcoming bills. On the not plus side, our councillor shared that the anticipated shortfall due to Covid in the local civic budget will be $300 million by the end of this year & reminded us of that pesky rule that says municipalities can’t run a deficit. Expect both service cuts AND one hefty increase to next years property tax bill. This does not fill the local council with joy, especially since we will be having municipal elections next year. The economic fallout due to Covid isn’t their fault, but they sure will be blamed for it.

#10 crowdedelevatorfartz on 06.25.20 at 3:54 pm

Trudeau cant keep CERB running forever.
The Bond Market wont allow it.
Second wave of the flu + lockdowns……
CERB will have to crank back up or universal welfare.

Either interest rates up or dollar down.

#11 ElGatoNerodeYVR on 06.25.20 at 3:54 pm

Ofcourse, to anybody who had to work their way up from nothing this make sense. The people spending money are the ones living month to month as they have to spend to live. A little bit of money will raise them from below or at poverty level to just above and the little bit of extra will do nothing for savings short term. That is why cutting taxes for the top income earners does nothing to stimulate the economy directly as they will save,invest instead of spend. I am not condoning it, just calling it out as someone who’d been there, done that and was fortunate enough to break the cycle; most sadly can’t/don’t get the opportunity.

#12 Oakville Sucks on 06.25.20 at 3:59 pm

Who’s this “Drake” guy Garth always references???

Is it the guy who’s mom’s connections got him his first gig on Degrassi?

Is it the guy who’s talents are no different than that of the average joe but has the connections and a HUGE HUGE production team working tirelessly under the “Drake” namebrand?

#13 jal on 06.25.20 at 4:00 pm

#1
a family can make $60K/yr from the government
——–
More …
Two birds with one stone.
Where are the students going to spend this money?
The money needs to be given to the students, by the government, to save the capitalists.

Now look at the following. This is how the money is given to trickill up to the selected elites

https://www.canada.ca/en/revenue-agency/services/benefits/emergency-student-benefit.html
Canada Emergency Student Benefit (CESB)
The Canada Emergency Student Benefit (CESB) provides financial support to post-secondary students, and recent post-secondary and high school graduates who are unable to find work due to COVID-19.

https://www.jobbank.gc.ca/findajob/resources/cesb
Job searching while receiving the Canada Emergency Student Benefit

https://www.canada.ca/en/revenue-agency/services/benefits
/emergency-student-benefit/cesb-statistics.html
Total unique applicants
578,850
Total dollar value of CESB paid
$ 1.28 billion

#14 Handsome Ned on 06.25.20 at 4:00 pm

I like the way the Royal Bank is thinking. Since I have most of my money in their fine institution, they should be happy to pay me 30%, hell make it 50% interest on my GICs. By their logic I would recirculate it back into the economy enriching fishing guides, lap dancers and bar tenders. They would in turn open up new Royal bank accounts, a win win for everyone.

#15 Don Guillermo on 06.25.20 at 4:02 pm

#4 Dolce Vita on 06.25.20 at 3:04 pm
I admire the verve of today’s Blog. Really I do.
Some bitter reality follows (as in how deep the hole is to dig out of).
StatCan today on payroll:
“Following a decline of almost one million payroll jobs in March, payroll employment fell by an additional 1,830,200 (-11.4%) in April, bringing total losses since February to 2,769,500 (-16.3%).”
Yup, the money is from CERB, it’s not from payrolls that for sure.
And more mirth from StatCan yesterday on GDP:
“A flash estimate of gross domestic product (GDP), released by Statistics Canada in late May, projected an 11% decline in real GDP in April, following March’s 7.2% decrease.”
And as for the Royal Bank (“…the Royal Bank is lauding Trudeau’s CERB bucks…”),
Lay off GANJA.
————————–
“The virus is ripping through a few US states…”
Ya just 29 of them. No biggie.
Give me Liberty, or Give me COVID.
https://www.npr.org/sections/health-shots/2020/03/16/816707182/map-tracking-the-spread-of-the-coronavirus-in-the-u-s?t=1593111412969
PS:
Mexicans heard South of the border yelling:
“Build that wall, build that wall.”
*****************************************
I live 5 mos/yr in Mexico … soon to make it 7. A popular logo on gringo tee-shirts is “We Live on the Right Side of the Wall”.

#16 Unhinged Trader on 06.25.20 at 4:15 pm

@4 Dolce Vita
“Ya just 29 of them. No biggie.”

NPR is a Marxist propaganda promulgation channel that should be designated as an enemy combatant, just like the Taleban and ISIS. Much of the media are in fact waging psychological warfare against the American people.

#17 Leigh on 06.25.20 at 4:28 pm

Garth, any reason why you’re not publishing your blog on a social network? It’ll be far more functional and interactive, especially with comments section but you already know that!

But more bozos might find it. – Garth

#18 Deplorable Dude on 06.25.20 at 4:28 pm

It’s been 84 days since Biden held a press conference…..

I wonder why?

When your opponent is self-destructing, why would you? Politics 101. – Garth

#19 Do we have all the facts on 06.25.20 at 4:35 pm

I must admit I know absolutely nothing about how bond rating agencies calculate the credit worthiness of a Country.

What I do know is that assets held by the Bank of Canada
increased by almost $390 billion, or 325% since January 1, 2020.

Included in the recent buying spree were $95.1 billion in Treasury bills, $73.16 billion in Government of Canada Bonds

I am not sure what is really going on when the central bank of a country becomes a major purchaser of the debt instruments the same country is issuing to raise capital.

This seems to be going on in a big way in the United States and I interpret large scale quantitative easing as a sign of weak demand from external investors.

Somebody please explain to me why quantitative easing would be necessary if external demand for the bonds and treasury bills issued by a country was strong.

#20 Ballingsford on 06.25.20 at 4:39 pm

Fake picture! They are sheep farmers who shear their sheep on the house. Dog looks good though!

#21 Axehead on 06.25.20 at 4:47 pm

CERB for students enourages sloth and lethargy. Must be for votes or political reasons to give students money to stay down their parents basement getting high and binging on Netflix. Disgraceful, wasteful and pathetic.

#22 Wrk.dover on 06.25.20 at 4:56 pm

#192 JB on 06.25.20 at 2:04 pm
God damn some of the people in Florida are dumb as $hit.
Just listen to each one of these wackos talk

——————————————–

I’ve lived there and Arizona. Traveled all the states. It is all much too common place down there!

I don’t care how broke Canada gets, Canada is home.

#23 Orange Man....Orange on 06.25.20 at 4:57 pm

#18 Deplorable Dude on 06.25.20 at 4:28 pm
It’s been 84 days since Biden held a press conference…..

I wonder why?

When your opponent is self-destructing, why would you? Politics 101. – Garth

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

I think you have it backwards Garth. Polling is showing Biden in the lead, but his lead is smaller than Hillary’s was at this point in the game. The MSM polls are all hugely over sampling Democrats. Same mistake they made last time.

Rasmussen polls, which got it right last time, show it far closer. Once Biden gets out of the basement and has to face Trump in an unscripted debate it will be painfully obvious how far gone Biden is. Trump will destroy him is a nano-second by asking three questions: What is your name? Where are you? What year is it?

Kind of a Catch-22 though; if they let Biden out in public now they’d still have time to replace him before the election. Keeping him under wraps makes that harder with every passing day.

Sure. – Garth

#24 Orange Man....Orange on 06.25.20 at 5:04 pm

WRT Biden’s polling numbers, this may be a case where the fat thumb on the polling by the MSM actually does Democrats more harm than good. Biden polling high makes it impossible to remove him, even if the numbers are flawed.

Ironic really; by cheating, the Democrats shoot themselves in the foot and create exactly the situation they seek to avoid.

#25 Andrewski on 06.25.20 at 5:06 pm

Ball Of Confusion (That’s What The World Is Today) (Single Version / Mono)

The Temptations

People movin’ out, people movin’ in.
Why, because of the color of their skin.
Run, run, run, but you sho’ can’t hide
An eye for an eye, a tooth for a tooth.
Vote for me and I’ll set you free
Rap on, brother, rap on.
Well, the only person talkin’ ’bout love thy brother is the preacher
And it seems nobody’s interested in learning but the teacher
Segregation, determination, demonstration, integration, aggravation,
humiliation, obligation to our nation
Ball Of Confusion that’s what the world is today (yeah, yeah)
The sale of pills is at an all time high
young folks walkin’ ’round with their heads in the sky
Cities aflame in the summer time, and oh the beat goes on
Eve of destruction, tax deduction,
City inspectors, bill collectors,
Evolution, revolution,…

#26 Orange Man....Orange on 06.25.20 at 5:08 pm

WRT to the Electoral College, also bear in mind the Trump has a built in 6 point advantage. The Electoral College was originally designed in the 1780’s to ensure that the 90% of rural voters didn’t run roughshod over the 10% urbanites. It’s funny how that now the numbers are reversed it still serves the same function.

#27 mike from mtl on 06.25.20 at 5:08 pm

The gcan downrating (from one agency) is ehhh whatever honestly, though how is Australia still AAA??? Their economy is in far dire straits than ours – selling raw metals to China and overpriced RE both of which are not so diversified. Aus dollar has taken much worse than ours since we still have big bro US for the most part. But they still have AAA across the board, the heck?

#28 Ballingsford on 06.25.20 at 5:16 pm

Putin is going to be Russia’s President for life. Can we not do the same thing for Trudeau, Canada’s PM for life!?!?

https://foreignpolicy.com/2020/03/10/will-putin-be-russia-president-for-life-constitutional-changes/

#29 SeeB on 06.25.20 at 5:17 pm

These work ethic memes are conflicting. The Victorian Morality crowd have bemoaned the Millennial Work Ethic for years now, and suddenly we’re worried about harming that ethic further. You’d think all the all-knowing job creators we worship would be happy with this exile of entitled workers from the labour pool. So what if it costs a more money from taxes? I mean, they were gonna get laid off anyway in a few years once automation really kicks in. Surely less of these whiny entitled welfare collectors clogging up the workplace would be a much larger net benefit in productivity and profitability?

“Sucks” that the corps can’t get those larger profits up front, but I suppose since the CERB folks are spending back into the economy, that company will gradually accumulate those profits back. Maybe they’ll need to cut back on higher end salaries and stock buy-backs to satisfy this voracious tax need.

As for families pocketing $5K per month during Covid, would you want to be the politician that kills that ahead of an election? Yeah, it’s weird anyone should get more of the pie by virtue of spawning, but I suppose there’s a 50-50 chance these kids will eventually help to pay all this back anyway.

The only TRUE victim in this is the Small Business owner. While the Amazons and Burger Kings have the power and leverage to negotiate better rental arrangements, they also receive the most benefit from the individual stimulus payments. Meanwhile mom and pop can’t even open their doors to properly do business and are stuck with large outstanding loans and the threat of being tossed out once the eviction ban ends.

#30 kingston boy on 06.25.20 at 5:19 pm

@#12 Oakville Sucks on 06.25.20 at 3:59 pm
Who’s this “Drake” guy Garth always references???

Is it the guy who’s mom’s connections got him his first gig on Degrassi?

Is it the guy who’s talents are no different than that of the average joe but has the connections and a HUGE HUGE production team working tirelessly under the “Drake” namebrand?
——————-

LOL, the guy became the worlds biggest pop star because of his moms connections?
sure buddy.

#31 Nick on 06.25.20 at 5:21 pm

.
An honest lower Brainland realtor told me today that this is good time to buy 2nd home as prices will be up next year. Homes are hot cakes, Siddall be damned.

#32 kingston boy on 06.25.20 at 5:25 pm

@#16 Unhinged Trader on 06.25.20 at 4:15 pm
@4 Dolce Vita
“Ya just 29 of them. No biggie.”

NPR is a Marxist propaganda promulgation channel that should be designated as an enemy combatant, just like the Taleban and ISIS. Much of the media are in fact waging psychological warfare against the American people.

——————–

you from florida?
you sure sound like it.

#33 Sail away on 06.25.20 at 5:27 pm

#22 Wrk.dover on 06.25.20 at 4:56 pm
#192 JB on 06.25.20 at 2:04 pm

God damn some of the people in Florida are dumb as $hit.
Just listen to each one of these wackos talk

—————

I’ve lived there and Arizona. Traveled all the states. It is all much too common place down there!

I don’t care how broke Canada gets, Canada is home.

—————

Wait… what about the geese? I thought this was about goose licking?

#34 conan on 06.25.20 at 5:30 pm

bear in mind the Trump has a built in 6 point advantage -Orange Man….Orange

I do not understand that at all. What 6 point advantage?

The news is all doom and gloom for the Trumpster.
Swing States are now Biden States. Everything is pointing to a blow out with a strong hint of obliteration.

#35 Polecat on 06.25.20 at 5:32 pm

Election this fall?

Not here. – Garth

#36 Screwed Canadian Millenial on 06.25.20 at 5:46 pm

DELETED

#37 P.Ooched on 06.25.20 at 5:51 pm

>It’s also enough for people running restaurants, grocery stores, pizza palaces, factories and retail outlets to have jobs go begging.

You can currently earn up to $1000 per 4 week period while collecting CERB. If all the people running restaurants, pizza palaces, factories, ….

were to be a little ‘flexible’ and ‘adapt’ somewhat to the changing circumstances they are/will be operating in …

As an example offer – 2 part time positions that pay $1000 month VERSUS 1 Full Time position that pays $2000 (and no CERB).

The workers would come to them, no?

#38 Shirl Clarts on 06.25.20 at 5:53 pm

#15 Don Guillermo on 06.25.20 at 4:02 pm
#4 Dolce Vita on 06.25.20 at 3:04 pm
I admire the verve of today’s Blog. Really I do.
Some bitter reality follows (as in how deep the hole is to dig out of).
StatCan today on payroll:
“Following a decline of almost one million payroll jobs in March, payroll employment fell by an additional 1,830,200 (-11.4%) in April, bringing total losses since February to 2,769,500 (-16.3%).”
Yup, the money is from CERB, it’s not from payrolls that for sure.
And more mirth from StatCan yesterday on GDP:
“A flash estimate of gross domestic product (GDP), released by Statistics Canada in late May, projected an 11% decline in real GDP in April, following March’s 7.2% decrease.”
And as for the Royal Bank (“…the Royal Bank is lauding Trudeau’s CERB bucks…”),
Lay off GANJA.
————————–
“The virus is ripping through a few US states…”
Ya just 29 of them. No biggie.
Give me Liberty, or Give me COVID.
https://www.npr.org/sections/health-shots/2020/03/16/816707182/map-tracking-the-spread-of-the-coronavirus-in-the-u-s?t=1593111412969
PS:
Mexicans heard South of the border yelling:
“Build that wall, build that wall.”
*****************************************
I live 5 mos/yr in Mexico … soon to make it 7. A popular logo on gringo tee-shirts is “We Live on the Right Side of the Wall”.

^^^^^^^^^^^^^^^^^^^

I can understand your desire to get out of Alberta, but you can’t stay in Mexico longer than 6 months. Max is 180 days, or you will be deported back to Canada.

T2 wants as much of the CERB money as possible to be spent here in Canada, please. Thank you.

(Hmmmm. Now where did I put that tax cheat link.)

#39 Barb on 06.25.20 at 5:55 pm

That dog will need sunscreen.
Glad it wasn’t Bandit.

#40 crowdedelevatorfartz on 06.25.20 at 5:55 pm

@#37 Screwed Canadian Millenial

Be part of the change or be deleted by it.

#41 Duffy on 06.25.20 at 6:01 pm

I hope all of that money was spent on products made in Canada, US, Mexico, Taiwan, Japan, South Korea, India, UK, . . . . we have to send a message.

#42 CJohnC on 06.25.20 at 6:01 pm

A little off topic but because this used to be partly a financial blog, I thought I would pass this along from today’s Bloomberg Opinion newsletter. It is about investing when your bored to tears because of COVID-19

One way to get the old pulse pounding, to really feel alive and in-control again, is to gamble on the stock market. Another is to work yourself into a paper-bag-huffing lather about inflation, which can lead you to such exotic fare as gold and Bitcoin. Bloomberg Opinion is not here to tell you how to live your life, but … maybe find some different hobbies? Like, you can kill two months just building a crazy Rube Goldberg device. That seems fun!

Because the day-trading thing probably won’t work out for you, as Noah Smith wrote this week. As for inflation, you don’t need to stock up on barbarous metals or shady cryptocurrencies. An extremely simple, if crushingly dull, inflation hedge is the good old 60/40 portfolio of stocks and bonds, writes Nir Kaissar. Honestly, you really should worry far less about inflation than deflation these days. But even in the 1970s stagflation era some people fear is returning, the 60/40 portfolio kept up with inflation.

#43 FreeBird on 06.25.20 at 6:05 pm

#114 Doomsday Prepper on 06.24.20 at 8:54 pm
Ummm
Garth, i am one of the unfortunate ones that would be working a Drake or Adele concert…the entertainment industry has been decimated with little hope on the horizon, so remember, even if you dislike an artist, their shows bring a lot to economies! I wouldn’t be surprised if some stage technicians were your clients.
——————
Can’t we just have Lucinda Williams and Ten fé? – Garth
——————
Looked up Lucinda Williams and here’s a video of her song “You Can’t Rule Me”

https://youtu.be/Ss2GVWKZjaI

Commercial version

https://youtu.be/3dCgux3O1tM

Both good.

#44 Piano_Man87 on 06.25.20 at 6:21 pm

Thanks for the blog Garth. So much more refreshing than the news these days which only seems to say: Covid – FEAR, Trump – BAD!

#45 Reality is stark on 06.25.20 at 6:22 pm

15% unemployment is 15% unemployment is 15% unemployment and it doesn’t go away with magic fairy dust.
The jobs are not coming back to previous levels. You can bet your house on it.
The government gets one more kick at the housing sector as they drive down interest rates. But look out below as they are getting ready to tax the hell out of the sector to abscond with the capital.
Sell now or forever hold your peace.
The first debt downgrade seems like no big deal. After the fifth one you may start to get a bit nervous. They’ll be coming fast and furious.
People here will be voting for more dole, a lot more.
If the choice is to take them back to family court every couple of years or go get a job you call your lawyer. After all they have to pay for your lawyer.
When you complete your taxes you get an additional health tax levy. You can expect it to double.
Of course your property taxes also need to double and soon.
You may think paying your mortgage is doable now but start re-thinking how affordable the mortgage will be when your tax burden doubles.
I’m sure you feel much better now.

#46 Screwed Canadian Millenial on 06.25.20 at 6:23 pm

DELETED

#47 Screwed Canadian Millenial on 06.25.20 at 6:32 pm

#23 Orange Man….Orange on 06.25.20 at 4:57 pm

Rasmussen polls, which got it right last time, show it far closer.

LOL

https://www.realclearpolitics.com/epolls/other/2018_generic_congressional_vote-6185.html

What a joke

Garth you let crap like this stay but delete my harmless comments? >

#16 Unhinged Trader on 06.25.20 at 4:15 pm
@4 Dolce Vita
“Ya just 29 of them. No biggie.”

NPR is a Marxist propaganda promulgation channel that should be designated as an enemy combatant, just like the Taleban and ISIS. Much of the media are in fact waging psychological warfare against the American people.

#48 You know val on 06.25.20 at 6:34 pm

That’s the suck part of the story. Where is the blow back..short ,medium and the long Bomb ? Turns out as usual BIS RULES much more to the double edged 19 than meets the eye.

#49 Doghouse Dweller on 06.25.20 at 6:36 pm

Does the credit rating of a 0.2% Canada Bond really mean anything ?

The cooked Canadian inflation rate accelerates to 2.2%, core highest in a decade.
And who is even buying these turds besides the monetizers at the BOC ?
60% of your balanced 60/40 portfolio is bucket full of holes !

#50 Orange Man....Orange on 06.25.20 at 6:40 pm

#35 conan on 06.25.20 at 5:30 pm
bear in mind the Trump has a built in 6 point advantage -Orange Man….Orange

I do not understand that at all. What 6 point advantage?

The news is all doom and gloom for the Trumpster.
Swing States are now Biden States. Everything is pointing to a blow out with a strong hint of obliteration.

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

The six point advantage means that Trump can lose the popular vote by up to six points and still win the Electoral College and the Presidency. This was baked into the US constitution by the Framers to avoid the “Tyranny of the Majority” which is exactly the situation that the US finds itself in. The Electoral College “evens” things out a bit to make sure that every region gets represented meaningfully.

Because of lumpy population distribution in the US a candidate would only need to win a few counties in California, a few in New York, and a couple of other densely populated areas and that would be it. The rest of the country be damned.

The US Framers avoided the situation that we find ourselves here in Canada. Trudeau lost the popular vote and didn’t elect MP’s in a large swath of the country, but carried the densely populated Golden Horsheshoe and parts of Quebec and still became PM. And we’re now living with the rest of the country be damned part as he throws Alberta under the bus to appease the East.

#51 cto on 06.25.20 at 6:53 pm

Why do i have this sinking feeling that the BOC and FEDs are going to say, “moral hazard be damned!” spin around and turn the greater fools into geniuses…again…like they have for the last 10-15 years! is this time going to be any different?

BOC will use your money to distort the housing market and interfere with any resemblance of meaningful price discovery.

Garth you have way too much faith in the politics and BOC to make ethical choices.

#52 ImGonnaBeSick on 06.25.20 at 7:05 pm

#28 Ballingsford on 06.25.20 at 5:16 pm
Putin is going to be Russia’s President for life. Can we not do the same thing for Trudeau, Canada’s PM for life!?!?

https://foreignpolicy.com/2020/03/10/will-putin-be-russia-president-for-life-constitutional-changes/

—-

No term limits in Canada bud. King Trudeau is there until we say no more (or the liberal party does)

#53 Nonplused on 06.25.20 at 7:05 pm

About the picture: fun with perspective. That is a lot of hair but due to the magic of 2D photography look how small the washing machine looks.

Anyway, back to the subject.

I don’t have a super fancy economic multi-variable linear regression model, but if I did I would think it would predict an extended period of stagflation or inflation ahead as a result of all this. It’s the only way out as we are already at peak taxation. The debt will need to be inflated away to a lesser burden. It’s already happened in Canada to a certain extent as the loonie went from over a dollar to 73 cents US, and there is probably more to come. The only part that did not happen is a large jump in exports to the US which would have provided more economic activity in Canada and thus higher tax revenues. But perhaps that will come with time.

Inflation acts as a sort of stealth “wealth tax”. All your dollars in the bank become “worth less” as prices rise. It has the same effect on purchasing power as if there were a wealth tax equal to the inflation rate on cash and cash derivatives like bonds. And since the bond market is YUGE! it can be quite a tax indeed, especially if the real inflation rate creeps towards 5% (some say it is already north of that). The only escape is tangible assets and productive assets that have pricing power. For example Microsoft, Apple, and Google are probably going to do fine because at this point nobody can do without a computer or at the very least a smart phone and if you want one you are going to have to do business with one of the three. I think this is what the stock market is truly telling us. Higher prices are coming, and the right companies stand to benefit.

Gold is also showing signs of inflation coming but I know we don’t talk about gold here so I will leave it at that. It is, after all, just a metal. Most of it is tied up in jewelry and the rest is sitting around in a basement vault.

“But if inflation is coming shouldn’t bond prices rise?” Good question but the answer is “”no”. If central banks have proven anything since 2008 it is that if necessary they have the tools to keep rates exactly where they want them, and they know how to use them. How else can you explain the massive amount of borrowing by governments everywhere now underway and yet there is no upward pressure on rates? Central banks are learning hard on the supply of money such that the supply of bonds is not causing competition for scarce cash. There is no scarcity of cash. There won’t be.

So this is why a balanced Gath ™ portfolio remains the way to go; you need exposure to inflation proof assets like good stocks. If anything I might suggest moving to a higher exposure like 50/50. You still need bonds (which are effectively cash at this point because interest rates are below inflation), but if you want to get really tricky you might want to consider “rebalancing” whenever there are large market moves rather than just annually or semi-annually. For example, a person who went into the covid crash with a 50/50 or even 60/40 portfolio, rebalanced at the lows (sold bonds to buy stocks), and then rebalanced again after the bounce probably saw a 20% gain! That would have taken a lot of time and skill and I have to admit I just rode it out, but I bet there are a lot of bank traders and hedge fund managers who did exactly that.

In order to understand what is coming one needs to look at the interests of the TPTB. Avoiding collapse is their number one goal. Major governments defaulting on their debt is is to be avoided as goal number two, with strategic exceptions for political reasons. Preserving the purchasing power of cash is actually pretty low on their agenda. They have been letting it slide for 100 years and they are going to continue letting it slide for 100 years more.

So, if you have the cash, get out there and buy that new motorcycle, RV, boob job, outdoor kitchen, hot tub, Rolex watch, what have you! Maybe even some gold jewelry for the wife. It’s on sale right now but it won’t be for long and prices only ever go up over the long run.

All of this sounds like I am being extremely critical of central bank policy, but if the alternative is a collapse and depression, well, let’s take the lesser of two evils and just invest accordingly.

Remember folks, money isn’t real, especially cash money. A dollar belongs in the category of weights and measures, like an inch or an ounce. The difference is they can print more dollars but printing inches doesn’t make any sense.

#54 jess on 06.25.20 at 7:22 pm

…”In Immokalee, Florida, the nation’s tomato capital, the coronavirus has taken hold, with almost 1,000 cases recorded since April. Overcrowding in farm worker housing, during transportation to worksites, and while laboring in fields has made farm workers particularly vulnerable to the virus. Now, thousands of migrant farm workers are leaving the region and heading northward as the summer season progresses, traveling to farms across the South and the East Coast.

https://www.migrantclinician.org/blog/2020/jun/covid-19-clinicians-ramp-testing-outreach-contact-tracing-partnerships-support-farmwor
===================
There are as many as 2.7 million hired farm workers in the U.S., including migrant, seasonal, year-round and guest-program workers, according to the Migrant Clinicians Network. …

…..there’s no one collecting national numbers on how many are falling sick….“There is no central reporting, ”

#55 SeeB on 06.25.20 at 7:25 pm

#51 Orange Man….Orange on 06.25.20 at 6:40 pm
#35 conan on 06.25.20 at 5:30 pm
bear in mind the Trump has a built in 6 point advantage -Orange Man….Orange

I do not understand that at all. What 6 point advantage?

The news is all doom and gloom for the Trumpster.
Swing States are now Biden States. Everything is pointing to a blow out with a strong hint of obliteration.

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

The six point advantage means that Trump can lose the popular vote by up to six points and still win the Electoral College and the Presidency. This was baked into the US constitution by the Framers to avoid the “Tyranny of the Majority” which is exactly the situation that the US finds itself in. The Electoral College “evens” things out a bit to make sure that every region gets represented meaningfully.

Because of lumpy population distribution in the US a candidate would only need to win a few counties in California, a few in New York, and a couple of other densely populated areas and that would be it. The rest of the country be damned.

The US Framers avoided the situation that we find ourselves here in Canada. Trudeau lost the popular vote and didn’t elect MP’s in a large swath of the country, but carried the densely populated Golden Horsheshoe and parts of Quebec and still became PM. And we’re now living with the rest of the country be damned part as he throws Alberta under the bus to appease the East.

———————————————–

“Tyranny of the Majority”. Laughable. When a party gets 39% of the vote (happened with JT, happened with Harper) but all the power in government, that’s not a tyranny of a majority: That’s a tyranny of the minority. That’s a minority exploiting division in their opponents. It’s literally the driving reason why the Canadian Alliance and the Progressive Conservatives merged – So they could unite the right and let the left continue to vote split. But really, that only confuses matters since it only encourages strategic voting

Is there any honour in trading a large number of your own principles to vote for someone who represents a small, but important fraction of what you believe?

The US Framers avoided nothing. They have the exact same electoral issues we have, and is worse with a de facto two party system. Just because your guy is in charge there and the guy you hate is in charge here doesn’t mean their democracy is working any better.

If we could bring in ranked choice ballots, maybe we could start voting for who we like rather than against who we hate.

#56 SeeB on 06.25.20 at 7:32 pm

#48 Screwed Canadian Millenial on 06.25.20 at 6:32 pm
#23 Orange Man….Orange on 06.25.20 at 4:57 pm

Rasmussen polls, which got it right last time, show it far closer.

LOL

https://www.realclearpolitics.com/epolls/other/2018_generic_congressional_vote-6185.html

What a joke

Garth you let crap like this stay but delete my harmless comments? >

#16 Unhinged Trader on 06.25.20 at 4:15 pm
@4 Dolce Vita
“Ya just 29 of them. No biggie.”

NPR is a Marxist propaganda promulgation channel that should be designated as an enemy combatant, just like the Taleban and ISIS. Much of the media are in fact waging psychological warfare against the American people.

——————————————————–

“The People” are doing a good enough job waging psych war on their own. Besides, if NPR is your bar for terrorism, then I guess we maybe should designate Fox News the same? Definitely Infowars and Breitbart…

Really, people should be using more critical thinking skills but they sadly don’t seem to want to. To much comfort in confirming our own biases for sake of certainty and righteousness in a universe that promises neither.

#57 fishman on 06.25.20 at 7:33 pm

Us captains had a saying “never hire a man thats been on welfare or in jail over two years.” Unless its family too much trouble babysitting them back to a work ethic. Trouble brewing for the free money club.
The best is get a kid 15 or 16. Work him half the summer holidays. Let him go so he can rejoin his friends for the other half. Like training a young dog, don’t overtrain. But train.
I had a mom come up to me, grab my hands & say thank you, thank you fishman. Curious, I asked how had he changed because I didn’t do anything special. Same as before, work em hard,pay em good.
She says before he left he’d get up in the morning, yell down “mom make me breakfast.” Now he comes down,sits at the kitchen table, looks up at me with those big eyes & says”mom, you make the best breakfasts.”

#58 Flop... on 06.25.20 at 7:35 pm

So the guys with the red ties will probably extend CERB again, as the second wave hits the beach.

The blue tie guys can only sit around mesmerized, with maybe a putting out the occasional trail ballon about slowly shutting it down.

Tough choice for people spending 1.75 for every dollar earned.

The red ties get a majority and then have another whack at TFSA’s , guys that wear plaid, and whatever else has been bugging them.

The Orange ties….ahhhh….who cares what the Orange ties do?

Now I know why people are still willing to go on cruise ships and stay in internal cabins.

Better than watching this horror movie…

M46BC

#59 Steven Nicolle on 06.25.20 at 7:37 pm

For all the reasons you just said there will soon be a UBI.At least a $1000 a month to jumpstart economy. The horses have left the barn.

#60 Don Guillermo on 06.25.20 at 7:55 pm

#39 Shirl Clarts on 06.25.20 at 5:53 pm
#15 Don Guillermo on 06.25.20 at 4:02 pm
#4 Dolce Vita on 06.25.20 at 3:04 pm

I can understand your desire to get out of Alberta, but you can’t stay in Mexico longer than 6 months. Max is 180 days, or you will be deported back to Canada.
T2 wants as much of the CERB money as possible to be spent here in Canada, please. Thank you.
(Hmmmm. Now where did I put that tax cheat link.)

******************************************
Love Alberta. Have lived and worked all over the world and much of Canada. I chose here. Retired now and have no use for Canadian winters. Anywhere in Canada.

I have permanente Mexican resident status and can stay forever if I want. The seven month limit is to retain Alberta Health care. Totally legit. Nothing to do with CRA. Grow up Shirly.

#61 You know val on 06.25.20 at 8:01 pm

Mr. G, what do you think is Free French lessons, for the don’ts?

#62 crowdedelevatorfartz on 06.25.20 at 8:07 pm

@#28 BailingUsOut
“Putin is going to be Russia’s President for life. Can we not do the same thing for Trudeau, Canada’s PM for life!?!?”
+++

Well,
Long after Trudeau and Putin are but distant memories or statues to be torn down…….
Canadians will still be paying Trudeau’s debt.

#63 I’m stupid on 06.25.20 at 8:07 pm

https://nationalpost.com/news/politics/earning-too-much-could-be-next-problem-for-canadian-small-businesses-thanks-to-government-subsidy-rules/wcm/736af5ca-13d3-4135-9fc6-534a4c4c624a/

What happened to people? Since when has welfare been acceptable? Look at this yahoo.. he says why should he be punished for working his ass off? Punished? Who’s being punished except the tax payer? Next he’s going to want a tax exemption. Give me a break.

#64 crowdedelevatorfartz on 06.25.20 at 8:10 pm

@#47 Screwed Canadian Millenial

be part of the change (boomer work ethic) or be deleted by it.

#65 Cash is King on 06.25.20 at 8:11 pm

So what happens to the economy come April when all the CERB collectors find out they have to send a cheque to Ottawa instead of their usual refund? Or does Prime Minister Selfie and Comrad Singh sprinkle some forgiveness dust to those households earning less than $25000 and create a 1% capital gains tax on the sale of your house?

#66 Flop... on 06.25.20 at 8:11 pm

“The blue tie guys can only sit around mesmerized, with maybe a putting out the occasional trail ballon about slowly shutting it down.”

Geez…my 7 year old iPad really went to town on that one.

Gremlins are eating the gremlins by now.

I won’t bother fixing it, make of it what you will…

M46BC

#67 Nonplused on 06.25.20 at 8:21 pm

#60 Steven Nicolle on 06.25.20 at 7:37 pm
For all the reasons you just said there will soon be a UBI.At least a $1000 a month to jumpstart economy. The horses have left the barn.

———————-

A UBI doesn’t make any sense, because the government doesn’t have any money save what they tax now or borrow and tax later. That means any sort of UBI must be paid for by taxing the very people who are receiving it. How does that make any sense?

Remember folks, money isn’t real, it is a weight and measure like an inch or an ounce. Useful for determining the relative value of things same as an inch is useful for measuring the relative size of things, but it isn’t a real thing any more so than the number 2, or any number for that matter. You can say “there are 2 deers in the field eating my flowers”. But it is the deer that are real not the number 2. The number 2 is just a mathematical measure. Useful, but not real.

Sending out a bunch of UBI to everyone isn’t going to create more deer or more flowers. Currency must be backed by labor or it is useless and soon will not be accepted by those who do labor.

If they are going to do UBI, unfortunately, they have to do it Roosevelt style and pay people to build roads and dams. Maybe bike paths. Sure, it probably was and would be inefficient, but at least society got something. But paying people to do nothing? You just can’t do that unless you are an empire enslaving another population to do the work as the Romans did to the Egyptians. It just can’t work any other way. Somebody has to do the work or nothing of value can be created.

UBI has to be separated from some other social programs we have like welfare, which is for those most in need and disenfranchised, EI which you have to pay into to be eligible for like car insurance, CPP which is also based on what you pay in, or OAS which is like welfare but clawed back if you don’t need it. Or even our “free” health care and education systems which are anything but free, they are paid for through taxes. UBI is a very different animal. It is the “Economystical” utopia that just can’t and won’t work.

And then let’s maybe talk a bit about UBI and immigration. All of these social constructs that work relatively well in Canada do so because people are working. Some of their labor is being diverted from what they might otherwise spend the money on towards these things. But it is not money for nothing (except welfare and OAS). But if you have universal UBI in Canada, how long would it be before the whole of the third world arrives here and signs up? Not long. So it just can’t be universal. There will be a long list of who qualifies and who doesn’t for this so called “universal” thing, as there was with the CERB. I don’t get it. Most of the people I know can’t get it. It wasn’t universal. Yet it is bankrupting us.

#68 Thyme In A Bottle on 06.25.20 at 8:31 pm

#17 Leigh on 06.25.20 at 4:28 pm

Garth, any reason why you’re not publishing your blog on a social network? It’ll be far more functional and interactive, especially with comments section but you already know that!

But more bozos might find it. – Garth

——————–

Stated another way, Leigh… The blog isn’t about or for you. I went down this road a year ago and instead of making a decision himself, Garth set the steerage section after me. Of course, most of the usual grifters on this site wanted nothing to do with any change.
There’s a reason it’s referred to as the “pathetic blog” .

#69 Lost...but not leased on 06.25.20 at 8:35 pm

Blah Blah Blah

Do some homework….

Nothing we see now that wasn’t planned loooooooooooooooong ago.

Snooze?= loooze !

https://www.winterwatch.net/2019/12/manly-p-halls-secret-destiny-of-america-was-scheme-for-new-underworld-order-takeover/

#70 Drinking on 06.25.20 at 8:40 pm

Regarding the pic; asking all Australians and New Zealanders; that pup must be cross bread with a sheep; holy crap, too funny!

Regarding your blog today Garth; many do not care any longer; I have witness things in the past few months that made me realize that, I just shake my head. I have no debt, working, and it will come down hard on me just because of that; no judgment on the responsible, hard times happen (been there) and we just work our way out of it. Kudos to you, it is hard, do what you need to do, others are..

I feel this time it is different overall, the future could/will be a heck of a challenge! Covid has not gone anywhere, just look what is happening in the U.S. never mind Brazil, Australia is coming down with numerous cases, prepare as best as one can!

#71 the Jaguar on 06.25.20 at 8:42 pm

@#61 Don Guillermo on 06.25.20 at 7:55 pm

Been many places in Mexico, the usual tourist beach haunts of course, but also Mexico City, Guadalajara, and even Monterrey in the north. Almost got snuffed out by a riptide in Puerto Escondido, but cheated death. Not for the last time. Puerto Penasco with the tide going out another inspiring place.
My favourite was Morelia. In Michoacan. The beautiful colonial architecture was so inspiring. I bought a guitar in Paracho and it was so much trouble to get it all the way back to Guadalajara and then Puerto Vallarta and then back to Calgary, but all worth it. I love Mexico.
I have so much mariachi and old style Mexican ‘Trio’ music I don’t even know how to catalogue it….jajajajaja.

#72 1255 on 06.25.20 at 8:44 pm

The stock market is reactive – it doesn’t telegraph anything!

It’s turned into nothing more than a casino filled with automated trading and a handful of day traders.

#73 the Jaguar on 06.25.20 at 8:48 pm

for Don G.

I love this version so much.

https://www.youtube.com/watch?v=9vtPruNZFHo

#74 Robert Ash on 06.25.20 at 8:57 pm

Hopium, Economystics and a Synthetic Market. And no where to go…. Price Discovery and Fundamentals, are not in vogue at this time, or likely for the past 10 years… The market is not suppose to work without massive stimulus, that frankly is now the life blood, of the system. Not easy to forecast, predict, evaluate. Sorry no forward Guidance this quarter…

#75 Flop... on 06.25.20 at 8:59 pm

So I see that the new NHL team in Seattle is going to play at Climate Pledge Arena.

I don’t think they have a full name yet, but I’ll put forward my suggestion.

The Seattle Shutters…

M46BC

#76 Looking up on 06.25.20 at 9:02 pm

Hi,

My name is Darlene and I’ve been working part time as a waitress for the last 20 years. I decided to take the skills I’ve acquired waitressing and become a Remax realtor.

Folks I must tell you there’s never been a better time to buy. Unprecedented unemployment, zero immigration, collapsing businesses… these are things that only make housing prices go up.

So how about we go out together and buy you a house.

#77 Alex on 06.25.20 at 9:10 pm

Just like some 1% go out of their way to pay next to no taxes, some people would take advantage of the CERB. True. Anecdotal evidence of people taking advantage of the current stimulus mistaken with some others’ desire for once to put your needs (health esp) first is a misplaced enthusiasm for your fellow Canadians. Most people are decent humans. It’s hard to believe it when surrounded by someone less so. Stereotyping every low wage worker into this persona you describe endlessly is truly pathetic.

#78 rknusa on 06.25.20 at 9:30 pm

I did a similar calculation the other day

if UBI of 2000/ month per adult was approved

a couple with three kids under 18 would be clearing 5,000 a month

equivalent to a single earner grossing 80K a year

for doing nothing!

why would anyone work with all the related expenses

Canada seems to be circling the drain with this kind of talk

#79 crowdedelevatorfartz on 06.25.20 at 10:08 pm

@#76 Floppie
“So I see that the new NHL team in Seattle is going to play at Climate Pledge Arena.”

++++
The CHAZ Flames ?
The Seattle Socialists?
The PC Penguins?
The Climate Conundrum?
Amazon’s Anonymous?
COVID Climatologists ?
Ponzie’s Primates?

#80 Stone on 06.25.20 at 10:19 pm

#41 crowdedelevatorfartz on 06.25.20 at 5:55 pm
@#37 Screwed Canadian Millenial

Be part of the change or be deleted by it.

———

I enjoyed that.

#81 Decent Majority on 06.25.20 at 10:20 pm

A millennial deleted. Now it’s a good day. Go suck up to your wealthy relatives, parasite.

#82 islander on 06.25.20 at 10:37 pm

Wirecard -The money’s gone!

[Talk about a ‘nothing burger’]

https://www.theglobeandmail.com/business/international-business/european-business/article-wirecard-files-for-insolvency-owing-creditors-nearly-4-billion/

“The collapse of Wirecard, once one of the hottest fintech companies in Europe, dwarfs other German corporate failures. It has shaken the country’s financial establishment…..”

“It is frightening how long Wirecard AG was able to operate without being objected to by the auditors…!

Gotta wonder

#83 Sail Away on 06.25.20 at 10:40 pm

Is it only 80 yo’s who feel comfortable stating an opinion regardless of cancel culture? Glad to see at least one person has cojones.

https://barrie.ctvnews.ca/mobile/if-i-hurt-somebody-that-s-their-problem-not-mine-ontario-mayor-stands-by-not-flying-pride-flag-1.4998562

#84 Ballingsford on 06.25.20 at 11:04 pm

#63 crowdedelevatorfartz on 06.25.20 at 8:07 pm
@#28 BailingUsOut
“Putin is going to be Russia’s President for life. Can we not do the same thing for Trudeau, Canada’s PM for life!?!?”
+++

Well,
Long after Trudeau and Putin are but distant memories or statues to be torn down…….
Canadians will still be paying Trudeau’s debt.
*******
I think you got my point as abstract as it was. If one indebts the country for many generations, then they shouldn’t be able be able to get out of it just by losing an election and let someone else deal with it.

They should shoulder it until it’s even.

#85 Ponzius Pilatus on 06.25.20 at 11:20 pm

#80 crowdedelevatorfartz on 06.25.20 at 10:08 pm
@#76 Floppie
“So I see that the new NHL team in Seattle is going to play at Climate Pledge Arena.”

++++
The CHAZ Flames ?
The Seattle Socialists?
The PC Penguins?
The Climate Conundrum?
Amazon’s Anonymous?
COVID Climatologists ?
Ponzie’s Primates?
————-
I’ve got a good one.
Sailo’s Losers.

#86 Steven Nicolle on 06.25.20 at 11:25 pm

#68 You make valid points but no one is staying home and not working on a $1000 a month. Get real. I didn’t mention anything about paying people enough to stay home unless they live in a trailer in Sioux Lookout but I guess if they did they would make more on welfare and grow vegetables in their garden and hunt deer.

#87 IHCTD9 on 06.25.20 at 11:27 pm

I’m still thinking polygamy is the way to win in Trudeau’s Canada. Three wives/hubbies, make each one a different colour, and then have 3 kids with each and spread ‘em out to keep the Bank of Trudeau sending the cheques. If anyone has a problem with this, just formally identify as a post racial genderless nectonite, that’ll shut ‘em up good.

Now you’re Twitter proof, a hero to the SJW’s, and don’t need to work. Invest the Trudeau bux wisely, and you’ll retire a millionaire without you or your entire family ever having punched a single hour. CCB, CERB, GIS, CCP, UBI – who needs a stinking job?

#88 Shirl Clarts on 06.25.20 at 11:28 pm

#61 Don Guillermo on 06.25.20 at 7:55 pm
#39 Shirl Clarts on 06.25.20 at 5:53 pm
#15 Don Guillermo on 06.25.20 at 4:02 pm
#4 Dolce Vita on 06.25.20 at 3:04 pm

I can understand your desire to get out of Alberta, but you can’t stay in Mexico longer than 6 months. Max is 180 days, or you will be deported back to Canada.
T2 wants as much of the CERB money as possible to be spent here in Canada, please. Thank you.
(Hmmmm. Now where did I put that tax cheat link.)

******************************************
Love Alberta. Have lived and worked all over the world and much of Canada. I chose here. Retired now and have no use for Canadian winters. Anywhere in Canada.

I have permanente Mexican resident status and can stay forever if I want. The seven month limit is to retain Alberta Health care. Totally legit. Nothing to do with CRA. Grow up Shirly.

^^^^^^^^^^^^^

Sounds to me like you love Mexico more.

Your usual posts suggest that you have no use for Canada. This makes total sense now!

I guess it’s ok to suck the health care, spend all your money elsewhere, and chirp here about how stupid Canadians are.

Shame.

#89 Dr V's UBI on 06.25.20 at 11:44 pm

I see we are still getting lots of comments on UBI. I am not actually a proponent, but rather am keeping an open mind to see if/how it could work.

the first thing might be the comparison with CERB. No, don’t equate them. CERB is meant for those who have lost their income basically by government order. The option, maybe even the expectation, to work is still
there under UBI. The actual amount would have to be reverse engineered to see what we could afford as a country.

Don’t consider UBI as a form of social justice. Think of it as an economic solution.

And remember, everybody (18-65?) would get it. perhaps there would also be something for under 18 and over 65.

Just think about. Child Benefit, OAS, EI, GIS, welfare all
gone

Let it be a challenge to you. Hmmm what movie was that from?

#90 Flop... on 06.25.20 at 11:44 pm

Toilet paper limitations are already back in place in Australia.

One pack per shonky bogan.

Things are about to become a little dirtier DownUnder…

M46BC

#91 Flop... on 06.25.20 at 11:48 pm

crowdedelevatorfartz on 06.25.20 at 10:08 pm
@#76 Floppie
“So I see that the new NHL team in Seattle is going to play at Climate Pledge Arena.”

++++
The CHAZ Flames ?
The Seattle Socialists?
The PC Penguins?
The Climate Conundrum?
Amazon’s Anonymous?
COVID Climatologists ?
Ponzie’s Primates?

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

Can’t wait until the Edmonton Oilers play at Climate Pledge Arena.

This crap writes itself…

M46BC

#92 Shannon MacNamara on 06.26.20 at 12:17 am

DELETED

#93 Don Guillermo on 06.26.20 at 2:03 am

#72 the Jaguar on 06.25.20 at 8:42 pm
@#61 Don Guillermo on 06.25.20 at 7:55 pm
Been many places in Mexico, the usual tourist beach haunts of course, but also Mexico City, Guadalajara, and even Monterrey in the north. Almost got snuffed out by a riptide in Puerto Escondido, but cheated death. Not for the last time. Puerto Penasco with the tide going out another inspiring place.
My favourite was Morelia. In Michoacan. The beautiful colonial architecture was so inspiring. I bought a guitar in Paracho and it was so much trouble to get it all the way back to Guadalajara and then Puerto Vallarta and then back to Calgary, but all worth it. I love Mexico.
I have so much mariachi and old style Mexican ‘Trio’ music I don’t even know how to catalogue it….jajajajaja.

#74 the Jaguar on 06.25.20 at 8:48 pm
for Don G.
I love this version so much.
https://www.youtube.com/watch?v=9vtPruNZFHo

Thanks Jaguar that’s awesome music. I live in Mazatlán, Sinaloa which is the only Spanish colonial city in Mx on the ocean. Some gringos but mostly a real functioning Mexican city. I love it. Always do some travel around the country. My very favorite is Mexico City which I do every year for a week or so. Like you I’ve been to the usual beach haunts but have more to see. On my current list is Morelia, Guanajuato, Pueblo and Oaxaca City. Last year we went to Querétaro and San Miguel. Highly recommend Querétaro, SM is beautiful but basically it’s a Mexico Disneyland.

Downside of Sinaloa music is Banda. It can be grating.

When I first moved to Alberta from BC in the 70’s I worked outside construction and couldn’t handle the cold. I would go to a beach called Pie de la Cuesta for three months in the winter to escape. It’s about 10 k north of Acapulco. Haven’t’ been back to that area since the early 90’s. Maybe someday. I’m glad you survived Escondido. It has some waves and rips.

#94 Nonplused on 06.26.20 at 2:58 am

#80 crowdedelevatorfartz

They couldn’t use “Flames” or “Penguins” due to trademark issues. “Primates” might work, I don’t think that is in use. But I suggest that due to proximity both physically and ideologically, the last thing the government of Seattle wants is an NHL team in close proximity to Vancouver. It could start a war. Imagine a game 7 between the Seattle Primates and the Vancouver Canucks. No matter who wins the Peace Bridge burns.

#95 Do we have all the facts on 06.26.20 at 6:28 am

For all the Canadian fans of a universal basic income (UBI) it might be useful to review the Social Union Framework Agreement signed by the Government of Canada, nine Provincial governments and two Territorial governments in February 1999.

The Province of Quebec, as the lone holdout, remained concerned that the Federal government would continue to use their control over financial transfers to influence areas of Provincial jurisdiction. There is a deep seated reason why Quebec insisted on maintaining control over their own pension plan

While the SUFA was not legally binding, or enforceable, it reinforced the Constitutional division of jurisdiction over social programs in Canada. In simple terms the Government of Canada could provide funding for social initiatives such as a Universal Basic Income if a majority of Provincial and Territorial governments agreed with the terms and maintained jurisdiction.

There is little doubt in my mind that the Province of Quebec would resist any attempt by the Government of Canada to gain full control over any UBI initiative.

Most Provincial governments remain concerned with the way the Government of Canada has fiddled with the Canada Health Transfer and the Canada Social Transfer in recent years. All Provincial and Territorial governments are waiting to see whether the Covid 19 fiasco will have an impact on future Federal transfer payments.

Based on concerns addressed in the SUTA in 1999 it seems probable that any attempt by the a Government of Canada to continue CERB beyond 2020 or to morph CERB into a UBI will result in a Constitutional challenge.

In short any attempt by the Government of Canada to ignore the SUFA negotiated in 1999 would meet with strong opposition. Thus UBI is a non-starter for now!

#96 Greg Rodgers on 06.26.20 at 6:30 am

It is not a big deal now that Canada’s public finances and debt financing is downgraded but strange how problems that seem insignificant and not important today will cost us deeply later.

Canada should not be even an A rating when it comes to the public finances and the Federal Liberals, Trudeau, Morneau are just like many other Liberals, lefties when it comes to Canada spend, tax, make us be in debt
to the max so we can all believe they are the saviors with their poverty increasing policies through social programs out of control. They are really the destroyers of Canada.

#97 Sail Away on 06.26.20 at 7:20 am

#86 Ponzius Pilatus on 06.25.20 at 11:20 pm
#80 crowdedelevatorfartz on 06.25.20 at 10:08 pm
@#76 Floppie

“So I see that the new NHL team in Seattle is going to play at Climate Pledge Arena.”

—————-

The CHAZ Flames ?
The Seattle Socialists?
The PC Penguins?
The Climate Conundrum?
Amazon’s Anonymous?
COVID Climatologists ?
Ponzie’s Primates?

—————-

I’ve got a good one.
Sailo’s Losers.

—————–

Seattle Shooters would be appropriate.

#98 AnotherGuy on 06.26.20 at 7:36 am

Is this possibly the greatest UBI experiment in existence? And it appears to be working?

How can it be working when the government adds $20 billion per month in new debt? – Garth

#99 Sail Away on 06.26.20 at 7:36 am

#89 Shirl Clarts on 06.25.20 at 11:28 pm
#61 Don Guillermo on 06.25.20 at 7:55 pm
#39 Shirl Clarts on 06.25.20 at 5:53 pm
#15 Don Guillermo on 06.25.20 at 4:02 pm
#4 Dolce Vita on 06.25.20 at 3:04 pm

I can understand your desire to get out of Alberta, but you can’t stay in Mexico longer than 6 months. Max is 180 days, or you will be deported back to Canada.
T2 wants as much of the CERB money as possible to be spent here in Canada, please. Thank you.
(Hmmmm. Now where did I put that tax cheat link.)

—————

Love Alberta. Have lived and worked all over the world and much of Canada. I chose here. Retired now and have no use for Canadian winters. Anywhere in Canada.

I have permanente Mexican resident status and can stay forever if I want. The seven month limit is to retain Alberta Health care. Totally legit. Nothing to do with CRA. Grow up Shirly.

————–

Sounds to me like you love Mexico more.

Your usual posts suggest that you have no use for Canada. This makes total sense now!

I guess it’s ok to suck the health care, spend all your money elsewhere, and chirp here about how stupid Canadians are.

Shame.

—————

Playing the righteous indignation card, eh Shirl? Along with a few other insults AND calling Don G a tax cheat AND suggesting you’d happily rat him out.

Such behaviour. Shockingly juvenile.

Nice to see El Jefe put you firmly in your place while taking the high road.

#100 Dharma Bum on 06.26.20 at 7:55 am

#84 Sail Away

Is it only 80 yo’s who feel comfortable stating an opinion regardless of cancel culture? Glad to see at least one person has cojones.
——————————————————————–

80 year olds, and Joe Rogan. No cancelling there.

#101 Orange Man....Orange on 06.26.20 at 8:20 am

#56 SeeB on 06.25.20 at 7:25 pm
#51 Orange Man….Orange on 06.25.20 at 6:40 pm
#35 conan on 06.25.20 at 5:30 pm
bear in mind the Trump has a built in 6 point advantage -Orange Man….Orange

I do not understand that at all. What 6 point advantage?

The news is all doom and gloom for the Trumpster.
Swing States are now Biden States. Everything is pointing to a blow out with a strong hint of obliteration.

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

The six point advantage means that Trump can lose the popular vote by up to six points and still win the Electoral College and the Presidency. This was baked into the US constitution by the Framers to avoid the “Tyranny of the Majority” which is exactly the situation that the US finds itself in. The Electoral College “evens” things out a bit to make sure that every region gets represented meaningfully.

Because of lumpy population distribution in the US a candidate would only need to win a few counties in California, a few in New York, and a couple of other densely populated areas and that would be it. The rest of the country be damned.

The US Framers avoided the situation that we find ourselves here in Canada. Trudeau lost the popular vote and didn’t elect MP’s in a large swath of the country, but carried the densely populated Golden Horsheshoe and parts of Quebec and still became PM. And we’re now living with the rest of the country be damned part as he throws Alberta under the bus to appease the East.

———————————————–

“Tyranny of the Majority”. Laughable. When a party gets 39% of the vote (happened with JT, happened with Harper) but all the power in government, that’s not a tyranny of a majority: That’s a tyranny of the minority. That’s a minority exploiting division in their opponents. It’s literally the driving reason why the Canadian Alliance and the Progressive Conservatives merged – So they could unite the right and let the left continue to vote split. But really, that only confuses matters since it only encourages strategic voting

If we could bring in ranked choice ballots, maybe we could start voting for who we like rather than against who we hate.
++++++++++++++++++++++++++++++++++

Ranked Choice doesn’t just mean who everyone likes best. It also means who everyone hates least. That was how Alberta ended up with Ed Stelmach as Premier and he was arguably the worst Premier in Canadian history. Ranked Choice has it’s problems too.

Generally I’m in favour of the first past the post system. Yes, I dislike Trudeau as I think he has poor judgement and blows with the wind like dandelion fluff. But the system generally builds consensus and washes out radical stupidity from both the left and right. Not great, but not bad.

Proportional Representation is a dumb idea as it allows radical leftist and radical rightest ideas to catch root. Always a bad thing. Ranked Choice is just another way to give radical and destructive ideas more oxygen than they deserve.

#102 crowdedelevatorfartz on 06.26.20 at 8:21 am

@#95 Nonplused
” It could start a war. …”
++++

A war with the apologists in charge at Vancouver city clowncil?
That would be amusing since no one at Van City Clowncil seems to be able to deal with anything remotely resembling reality.
The latest vote from the idiots in charge?
No more police street checks.
They dont want the police to perform street checks because they’re “racist”… so , as the politically correct city stumbles back into the Fentynal overdose crisis with a record 117 deaths in the month of May.

Seattle would just surround Vancouver and declare it an Autonomous zone (VAZ?) and watch as we overdose ourselves into oblivion.

#103 Wrk.dover on 06.26.20 at 8:24 am

Dodd Frank, Volker Rule, etc. etc. what retail investor needs any of that wimpy Elizabeth Warren type consumer protection?

Bernie Madoff rules hold ground though!

More apparent every new day.

#104 Orange Man....Orange on 06.26.20 at 8:31 am

DELETED

#105 crowdedelevatorfartz on 06.26.20 at 8:32 am

@#84 sail away

Wow!
A politician with a spine.
I’m sure the other gastropods on that city council will nuke him once the mobs of paint flinging, statue defacing, politically correct “offended” voters arrive at city hall with torches and pitchforks.
“Democracy” at it’s worst.

#106 willworkforpickles on 06.26.20 at 8:35 am

As I said a couple months back
…the last ten years – debt –
…the next ten years – lies –

What happens to a society built on lies and debt ?
You don’t want to know.

Aside from that…(tiny few from a long list)

Round two of the 1st phase of the pandemic is now happening.
Despite all the lies.

Phase two or the second wave pandemic making it’s way (next flu season) will multiply the numbers as the initial phase of the virus had yet to sink it’s teeth in amongst the broad swath of the overall population.
Despite all the lies.

The economic fallout of all the QE, current and yet to come in both Canada and Stateside hasn’t near begun.
Despite all the lies.

Tremors by the coming earthquake in all things Real Estate related haven’t near begun .
Despite all the lies.

Broad strokes these, but mere headings for the countless associated mounting economic and biological equations portending the crashing waves of a continental tsunamic calamity that won’t somehow be averted despite all the lies now building.

#107 Orange Man....Orange on 06.26.20 at 9:00 am

OK GT, why did my last comment get deleted? All I quoted was what the DNC had press released themselves and then added in a reference to an old Star Trek episode which seemed to predict it.

I’m trying to censor myself here but the rules seem to be changing daily.

The quote was not from the DNC. No partisan statement like that gets published without a link or source. Try again. – Garth

#108 Karlhungus on 06.26.20 at 9:07 am

One correction Garth, CERB is taxable. People will be in even more trouble come tax time

No taxes are deducted at source, which is why I said the cash flow is untaxed. – Garth

#109 TurnerNation on 06.26.20 at 9:18 am

When the world got shut down I knew “Agenda 21” was real and being rolled out. Let’s review the evidence to date. Keeping us apart (“but together!”) dividing us – as we are the enemy – is of importance.

– Goals include limiting ,restricting travel. We lost the WW3 in only one week, and our new rulers limit us to local “bubbles” of travel. Airlines, hotels, shut down. airtravel is hard now.
We are in the training/compliance stage

– Setting aside 30% of land as off limits to humans. See above. I expect punitive taxation and lack of insurance coverage might be used to drive people off rural lands (and sufficiency)

– Slow elimination of cars (the path to easy and affordable travel). Every city has blocked off more streets for pedestrians, added bike lanes. Fun in -15c!
Electric cars have not the range for long drive and not in cold weather (batteries drain fast)

– A global move to “community policing” – that is the A.I.
March 31st (!!) Minneapolis police signed on to a new A.I. system. What a co-incidence they were the first to fall! Lock step each large city is culling the police.
https://www.fusus.com/blog/press-release-minneapolis-police-department-to-activate-fusus-real-time-crime-center-platform

– UBI. Goes without saying.

– Communism: the new global government has ordered only SMALL businesses everywhere to remain closed or operate at reduced capacity.

– Control over food supply. The harshest rules are for farmers trying to use usual TFW to harvest our food.
The only “outbreaks”are hearing are at the Meat plants.
This is only Phase 1 so stand by.

– The #s on the telescreens will be used to support these goals. USA’s #s make no sense vs. elsewhere.
It seems like the most-free and most testo-drenched (therefore a threat to the new system) areas got the highest numbers. Italy, USA

– NO science is being used to employed as this new agenda is being rolled out. CEOs agree:

“The Globe and Mail reports in its Friday edition that Calin Rovinescu, Air Canada’s chief executive officer, says he is taking the right steps to ensure the airline thrives when the COVID-19 pandemic eases, even as he railed against travel restrictions he says stand in the way of an economic recovery. The Globe’s Eric Atkins writes that at the airline’s annual meeting on Thursday via webcast, Mr. Rovinescu said the deadly virus and public-health measures enacted to limit its spread have demolished 10 years of growth at Canada’s largest airline, and said it is time to lift some travel bans and quarantine orders. “Canada imposed amongst the most stringent restrictions,” Mr. Rovinescu said,”
© 2020 Canjex Publishing Ltd. All rights reserved.

#110 Damned if you do.. on 06.26.20 at 9:39 am

Herd immunity is inevitable, i think that’s Trump’s MO.
Eventually everyone is going to be exposed to the virus, unless it disappears.
It’s an unfortunate reality, and the show must go on.

#111 Orange Man....Orange on 06.26.20 at 10:11 am

Fair enough.

#112 ain't life rand on 06.26.20 at 10:18 am

@#100 Sail Away on 06.26.20 at 7:36 am
#89 Shirl Clarts on 06.25.20 at 11:28 pm
#61 Don Guillermo on 06.25.20 at 7:55 pm
#39 Shirl Clarts on 06.25.20 at 5:53 pm
#15 Don Guillermo on 06.25.20 at 4:02 pm
#4 Dolce Vita on 06.25.20 at 3:04 pm

I can understand your desire to get out of Alberta, but you can’t stay in Mexico longer than 6 months. Max is 180 days, or you will be deported back to Canada.
T2 wants as much of the CERB money as possible to be spent here in Canada, please. Thank you.
(Hmmmm. Now where did I put that tax cheat link.)

—————

Love Alberta. Have lived and worked all over the world and much of Canada. I chose here. Retired now and have no use for Canadian winters. Anywhere in Canada.

I have permanente Mexican resident status and can stay forever if I want. The seven month limit is to retain Alberta Health care. Totally legit. Nothing to do with CRA. Grow up Shirly.

————–

Sounds to me like you love Mexico more.

Your usual posts suggest that you have no use for Canada. This makes total sense now!

I guess it’s ok to suck the health care, spend all your money elsewhere, and chirp here about how stupid Canadians are.

Shame.

—————

Playing the righteous indignation card, eh Shirl? Along with a few other insults AND calling Don G a tax cheat AND suggesting you’d happily rat him out.

Such behaviour. Shockingly juvenile.

——————————–

pots meet kettles lol

#113 Sail Away on 06.26.20 at 10:22 am

#101 Dharma Bum on 06.26.20 at 7:55 am
#84 Sail Away

Is it only 80 yo’s who feel comfortable stating an opinion regardless of cancel culture? Glad to see at least one person has cojones.

—————-

80 year olds, and Joe Rogan. No cancelling there.

—————-

Again here, the pendulum has swung too far. There will come a non-apologist, reasonable politician, and the people will flock to him. Yes, the Messiah to the masses.

This is what Trump represents in the US and the reason his base ignores his more outrageous actions. They have just become so absolutely fed up with the political correctness… and they are accustomed to having an opinion- being told they can’t have an opinion isn’t acceptable.

Canada will get their person. We’ll know when he says or does something controversial and doesn’t turn into a cringing, apologigizing, spineless wimp.

He has my vote. See how I did that? I didn’t say ‘or she’. And I’m not sorry.

#114 TurnerNation on 06.26.20 at 10:31 am

– Keep an eye on your food/meat supply. We are at war. As you’ve seen agents have infiltrated our cities and are demo’ing them.

https://london.ctvnews.ca/wingham-butcher-shop-destroyed-by-overnight-fire-1.4999898

“WINGHAM, ONT. — Greens Meat Market in Wingham has been destroyed by fire.

The family business was gutted by fire overnight, causing as much as $2-million in damage.”

……….
– Seen on Twatter:

“The Canadian Legion or club for retired soldiers put in insurance claim for “outbreak of disease” that caused closure.
Insurance co is saying a Pandemic is not an outbreak.
Very interesting. Truth vs. Gov narrative forcing closure”

Replying to
“My friend works for a massive insurance company. Almost no one is covered for pandemic.”

#115 Flop... on 06.26.20 at 10:31 am

Looking forward to your next book.

Garth Turner.

After The CERB…

M46BC

#116 Don Guillermo on 06.26.20 at 10:39 am

@#100 Sail Away on 06.26.20 at 7:36 am
#89 Shirl Clarts on 06.25.20 at 11:28 pm
#61 Don Guillermo on 06.25.20 at 7:55 pm
#39 Shirl Clarts on 06.25.20 at 5:53 pm
#15 Don Guillermo on 06.25.20 at 4:02 pm
#4 Dolce Vita on 06.25.20 at 3:04 pm
I can understand your desire to get out of Alberta, but you can’t stay in Mexico longer than 6 months. Max is 180 days, or you will be deported back to Canada.
T2 wants as much of the CERB money as possible to be spent here in Canada, please. Thank you.
(Hmmmm. Now where did I put that tax cheat link.)
—————
Love Alberta. Have lived and worked all over the world and much of Canada. I chose here. Retired now and have no use for Canadian winters. Anywhere in Canada.
I have permanente Mexican resident status and can stay forever if I want. The seven month limit is to retain Alberta Health care. Totally legit. Nothing to do with CRA. Grow up Shirly.
————–
Sounds to me like you love Mexico more.
Your usual posts suggest that you have no use for Canada. This makes total sense now!
I guess it’s ok to suck the health care, spend all your money elsewhere, and chirp here about how stupid Canadians are.
**************************************
Not sure how paying full taxes but using services part time is sucking on health care (or any other service). It must be some new math that you “really smart Canadians” are learning. Enjoy your CERB Shirly.

#117 Lambchop on 06.26.20 at 10:50 am

#115 Sail Away on 06.26.20 at 10:22 am
#101 Dharma Bum on 06.26.20 at 7:55 am
#84 Sail Away

Is it only 80 yo’s who feel comfortable stating an opinion regardless of cancel culture? Glad to see at least one person has cojones.

—————-

80 year olds, and Joe Rogan. No cancelling there.

—————-

Again here, the pendulum has swung too far. There will come a non-apologist, reasonable politician, and the people will flock to him. Yes, the Messiah to the masses.

He has my vote. See how I did that? I didn’t say ‘or she’. And I’m not sorry.

_______________

The minute someone apologizes for how they actually feel, I can no longer respect or trust them. It doesn’t matter if I agree with their viewpoint or feelings, the fact remains that anyone that apologizes for what they truly believe is a pandering liar and liars are not respectable.
It also displays a contemptible lack of moral fibre and intestinal fortitude.

Since when are we not allowed to disagree or have oir own opinions?

#118 crowdedelevatorfartz on 06.26.20 at 10:57 am

@#117 Floppie
“Looking forward to your next book.

Garth Turner.
“After The CERB…”

+++++

I was thinking

Garth Turner
“The Canadian Economy: Kicked to the CERB”

#119 crowdedelevatorfartz on 06.26.20 at 11:00 am

@#119 Lambchop
“Since when are we not allowed to disagree or have oir own opinions?”

++++

When any non politically correct opinion violates the latest Canadian Law.

Thank the Liberals for outlawing your non pc thoughts.

#120 Flop... on 06.26.20 at 11:08 am

crowdedelevatorfartz on 06.26.20 at 10:57 am
@#117 Floppie
“Looking forward to your next book.

Garth Turner.
“After The CERB…”

+++++

I was thinking

Garth Turner
“The Canadian Economy: Kicked to the CERB”

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

There you go again Crowdie, worrying me if you got the pun.

Mine was a play on After The Crash.

Maybe we should do a daily podcast, to discuss what happens in the blog comments each day?

The Flop & Fartz Show?

Or

The Lowbrow Show…

M46BC

#121 Sail Away on 06.26.20 at 11:11 am

#114 ain’t life rand on 06.26.20 at 10:18 am

pots meet kettles lol

—————

Oh, good one. Unique. lol.

#122 Lambchop on 06.26.20 at 11:15 am

11:00 am
@#119 Lambchop
“Since when are we not allowed to disagree or have oir own opinions?”

++++

When any non politically correct opinion violates the latest Canadian Law.

Thank the Liberals for outlawing your non pc thoughts.

_________________

Canada is becoming an idiot

#123 TurnerNation on 06.26.20 at 11:25 am

#9 Linda is chilling. All over North America rural and small towns will cut services.
Once enough are cut insurance companies no longer will cover. Or houses become unsaleable.
Pushing people into the crowded UN Smart Cities.
This IS a goal and we are watching it unfold.
Slow steps.
Getting people off the land and also food sustainability.
Flip what they tell us 180 degrees. ..

#124 JonBoy on 06.26.20 at 11:31 am

“After all, a husband and wife both on the Trudeau virus dole, plus collecting enhanced CB for a couple of kids can have a monthly (untaxed) income of almost $5,000”

——

Garth, CERB may be un-taxed at source but it has to be recorded as income in your 2020 taxes and is taxable.

The child benefits are not taxable, of course.

Of course I am aware. But the cash flow is untaxed. – Garth

#125 JonBoy on 06.26.20 at 11:59 am

#115 Sail Away on 06.26.20 at 10:22 am

Again here, the pendulum has swung too far. There will come a non-apologist, reasonable politician, and the people will flock to him. Yes, the Messiah to the masses.

This is what Trump represents in the US and the reason his base ignores his more outrageous actions. They have just become so absolutely fed up with the political correctness… and they are accustomed to having an opinion- being told they can’t have an opinion isn’t acceptable.

Canada will get their person. We’ll know when he says or does something controversial and doesn’t turn into a cringing, apologigizing, spineless wimp.

He has my vote. See how I did that? I didn’t say ‘or she’. And I’m not sorry.

—-

Hear, hear!

Talk about swinging too far left! It’s insane today what people feel needs to be done and said to accommodate or validate or support the 0.01% minority of some randomly chosen colour, race, new gender identity, or “downtrodden” group.

People are allowed to have different opinions. People are allowed to disagree with lifestyles, life choices, and life results. People are allowed to disagree with “your reality” or “your feelings”. Today, that’s being quickly trampled and it’s not right, it’s not reasonable and it’s not even healthy. A system without checks and balances is doomed to failure and opposing opinions, beliefs and positions produce a balanced outcome.

The “system” isn’t perfect. There are things that need to be tweaked and adjusted, some more than others, but requiring absolute agreement on certain topics is insane.

#126 Faron on 06.26.20 at 12:13 pm

#119 Lambchop on 06.26.20 at 10:50 am
#115 Sail Away on 06.26.20 at 10:22 am
#101 Dharma Bum on 06.26.20 at 7:55 am
#84 Sail Away

the quote in question:

“If everybody was either lesbian or homosexual, this would be the last generation on Earth. Because two homosexuals cannot produce offspring…two lesbians cannot produce offspring. So, why would I want to support something when this would be the last generation on Earth? I’m not going to go there,” Currie said.

Offensive or not, PC or not, the guy’s a freaking idiot. But, the US has long shown that intelligence and ability in politics don’t correlate at all.

And Sail, what would you do if the politician you pine after was female? Would you still use he/him in reference because “him” = “reasonable politician”?

Just checking.

#127 JB on 06.26.20 at 12:20 pm

#34 Sail away on 06.25.20 at 5:27 pm

#22 Wrk.dover on 06.25.20 at 4:56 pm
#192 JB on 06.25.20 at 2:04 pm

God damn some of the people in Florida are dumb as $hit.
Just listen to each one of these wackos talk

—————

I’ve lived there and Arizona. Traveled all the states. It is all much too common place down there!

I don’t care how broke Canada gets, Canada is home.

—————

Wait… what about the geese? I thought this was about goose licking?
……………………………………………
Geesh slang An exclamation of annoyance or frustration. The spelling “jeesh” is also used. I didn’t expect you to get here right on time, but geesh, you’re three hours late!

It was geesh. My stupid smart phone betrayed me again.
But since were on the topic of Geese.
these little bastards tried to setup a nest in my backyard about 2 months ago. In I might add Downtown TO. They are nasty messy birds. It took a broom and a hose to fight them off. After the first volley they won and in the end I took control and reclaimed my land.

http://www.lakesidenews.com/its-canada-geese-season

#128 Tater on 06.26.20 at 12:23 pm

#119 Lambchop on 06.26.20 at 10:50 am

Since when are we not allowed to disagree or have oir own opinions?
—————————————————

What opinion do you have that you think you aren’t allowed to have? And why do you think that just because you express an opinion you should be free from criticism?

#129 Faron on 06.26.20 at 12:23 pm

#116 TurnerNation on 06.26.20 at 10:31 am

…agents have infiltrated our cities and are demo’ing them.

Wow, you never fail to amaze TN.

One idea would be for you to Juuust put down the keyboard, put down anything with a screen, put on some pants and a shirt, socks and shoes and go outside. Maybe sit on a park bench (if it’s not covered with Caution tape) and watch people smile and laugh. Watch some dogs playing. Listen to the birds. Just take it easy. Ten deep breaths. There are plenty of people like you who can be vigilant while you give your brain a rest.

#130 JB on 06.26.20 at 12:25 pm

#116 TurnerNation on 06.26.20 at 10:31 am

– Keep an eye on your food/meat supply. We are at war. As you’ve seen agents have infiltrated our cities and are demo’ing them.

https://london.ctvnews.ca/wingham-butcher-shop-destroyed-by-overnight-fire-1.4999898

“WINGHAM, ONT. — Greens Meat Market in Wingham has been destroyed by fire.

The family business was gutted by fire overnight, causing as much as $2-million in damage.”

……….
– Seen on Twatter:

“The Canadian Legion or club for retired soldiers put in insurance claim for “outbreak of disease” that caused closure.
Insurance co is saying a Pandemic is not an outbreak.
Very interesting. Truth vs. Gov narrative forcing closure”

Replying to
“My friend works for a massive insurance company. Almost no one is covered for pandemic.”
………………………………………………………………….
Insurance companies have racks of lawyers on staff whose only job is to look for ways out of paying for any policy claim. They claim to be there ready to assist you until they have to assist you, then crickets! Lawyers and insurance companies are at the bottom of the barrel right around worms and amoebas.

#131 joblo on 06.26.20 at 12:27 pm

Don G.
Mazatlan maybe safe but look out outside of the city.

Your Government says stay away from other parts of Sinaloa

Regional Advisory – Avoid non-essential travel

Avoid non-essential travel to the following areas due to high levels of violence and organized crime:

all Chihuahua
all Colima, except the city of Manzanillo
all Coahuila, except the southern part of the state at and below the Saltillo-Torreon highway corridor
all Durango, except Durango City
all Guerrero, except the cities of Ixtapa/Zihuatanejo and Taxco
all Michoacán, except the city of Morelia
in Morelos
the Lagunas de Zempoala National Park and surrounding areas
in Nayarit
the area within 20 km of the border with Sinaloa and Durango
the city of Tepic
all Nuevo León, except the city of Monterrey
all Sinaloa, except the city of Mazatlán
all Sonora, except the cities of Hermosillo and Guaymas/San Carlos and Puerto Peñasco
all Tamaulipas

https://travel.gc.ca/destinations/mexico

#132 Faron on 06.26.20 at 12:28 pm

A markets question:

If the market is so healthy, why is the US 10 Year yield stuck at 0.6X? Wouldn’t one expect a forward looking market to roughly track the effective yield on long bonds? Seems bonds think the economy is utter crap.

Anyhow, last one before my internet filter kicks in for the day. Happy Friday.

#133 JB on 06.26.20 at 12:33 pm

#180 JB on 06.25.20 at 12:41 pm

#250 TurnerNation on 06.24.20 at 2:37 pm

#209 JB a story that big would have made the news.
What’s your solution? Ban condos? Wear a bio hazard suit in the elevator?
………………
Here is the beginning and the end.

https://calgary.ctvnews.ca/3-people-in-hospital-dozens-more-sick-with-covid-19-at-calgary-condo-1.5000287

#134 IHCTD9 on 06.26.20 at 12:35 pm

So yesterday I mentioned one of my best customers is closing up in Canada and moving to the USA. This organization is a household name in its industry.

Now one of my local competitors is closing up. Not surprised, we’ve had to chop our rate 40% to get any work at all.

I’m betting this is just starting, old contracts finishing up and shipping out in the last couple month, with nothing to replace them with. Big corps in the energy sector bailing because Trudeau and his ever changing climate policy can’t be relied upon. Not to mention we can’t even enforce a basic court injunction to get 6 guys off a railway line anymore. The SJW’s have Trudeau tied to a pole and flog him at their leisure. It’s not even work, a few angry Tweets and a raft of CBC victim/climate pieces and our stalwart leadership in Ottawa melts like butter in the sun. I wouldn’t be one bit surprised if CERB or some facsimile thereof is still ongoing this time next year.

It is looking like we’ll get more T2 type PM’s in the future, so we can expect a continued erosion of big industries that took a good half century to establish.

All us schmucks in the heavy industry private sector might better start thinking about a side income to supplement our future UBI…

#135 jess on 06.26.20 at 12:39 pm

Italian soldiers secure a red zone in Mondragone, near Naples, where new 49 cases of coronavirus infections were confirmed. Photograph: EPA

Here is a video of clashes between residents near Naples after a cluster of Covid-19 cases put five buildings in lockdown, and the army was deployed to the area.

https://www.theguardian.com/uk-news/2020/jun/26/the-atmosphere-was-ugly-bournemouth-aghast-beach-chaos

Staycation holiday scams soar, banking trade body warns

UK Finance reports surge in fake listings and refund scams for trips cancelled due to Covid-19

cap or blanket
The Federal Reserve on Thursday voted to require large banks to preserve capital by suspending share repurchases and cap dividend payments in the third quarter.
https://www.marketwatch.com/story/fed-caps-bank-dividend-payments-and-suspends-share-buybacks-for-third-quarter-after-stress-tests-2020-06-25?mod=home-page

In a 4-to-1 vote, the Fed will tie the distribution of dividends to a formula based on recent income. The formula sets third-quarter dividends at a level equal to average net income over the past four quarters. Fed Gov. Lael Brainard dissented from the decision.

#136 Dina Paragioa on 06.26.20 at 12:45 pm

Anotherguy, gambling seems to be working in the short run when you are winning and then when not if you lose big it all falls apart as the desperate gambler tries to win back money and if you can just win one more time you can get your hands on some money back and keep winning.

We all know how that story ends. It is a disaster as gambling destroys families, finances, individuals and the house always wins. This is why UBI, high debt, high taxes, over reaching government, regulation and communism, socialism, left leaning policies the likes of NDP, Liberals, Green Party, Labour Party, Democrats, progressives, socialists, communists, marxists and any other name, titles they like to use, create. This worldwide so called hybrid economic system of socialism and capitalism is failing.

We all lose and the government and others in power win as they just start all over again. UBI is nothing new even if it has a new name. There is no free lunch in life because eventually it has to be paid, high taxes, high tyranny, high cost of living, high, hyper inflation, Zimbabwe bucks etc. etc. 1,000,000,000,000,000,000………………………. We all are going to pay there is not utopia, there is no paradise for everyone. It is all BS. Anyone that believes this is brain washed as there will never be a utopia, paradise where everyone can live with little to no work and live very well. You will learn the hard way when it is too late.

#137 Dan August on 06.26.20 at 1:01 pm

Garth, you may not like this answer but it seems to me that more stimulus, programs and ponzi schemes central banks, governments does it has less and less beneficial impact.

This is looks like the long, dragged out road like the Great Depression and stock markets and every other market over the next 10, 15, 20 years will go nowhere. Trading for the big boys, banks etc. will make their money and that is it. Real estate and every other market is toast probably until 2040 at the very least.

#138 Stone on 06.26.20 at 1:16 pm

Was just listening to the news and they brought up how Alberta wants “a fair deal”. Something popped up in my mind on how Alberta portrays itself:

Alberta: The crybaby of Canada

#139 SeeB on 06.26.20 at 1:21 pm

#102 Orange Man….Orange on 06.26.20 at 8:20 am
#56 SeeB on 06.25.20 at 7:25 pm

Generally I’m in favour of the first past the post system. Yes, I dislike Trudeau as I think he has poor judgement and blows with the wind like dandelion fluff. But the system generally builds consensus and washes out radical stupidity from both the left and right. Not great, but not bad.

Proportional Representation is a dumb idea as it allows radical leftist and radical rightest ideas to catch root. Always a bad thing. Ranked Choice is just another way to give radical and destructive ideas more oxygen than they deserve.

————————————————————–

I agree that proportional is a terrible idea for the same reasons. I don’t want a REAL tyranny of the minority where the wingnuts of all stripes are given a national platform to spout hate and devisiveness.

When I brought up ranked choice, I meant the versions with “instant run-off”. I do think this style of ranked choice undoubtedly ecourages a healthier system than pure FPP, and still reduces the chances for extremist parties. While people will still strategically vote, that won’t happen until further down the ballot. The system allows people to do both rather than being forced to pinch their nose and throw ALL their support behind who they think will “win”.

#140 Don Guillermo on 06.26.20 at 1:32 pm

#133 joblo on 06.26.20 at 12:27 pm
Don G.
Mazatlan maybe safe but look out outside of the city.
Your Government says stay away from other parts of Sinaloa
Regional Advisory – Avoid non-essential travel
Avoid non-essential travel to the following areas due to high levels of violence and organized crime:
all Chihuahua
all Colima, except the city of Manzanillo
all Coahuila, except the southern part of the state at and below the Saltillo-Torreon highway corridor
all Durango, except Durango City
all Guerrero, except the cities of Ixtapa/Zihuatanejo and Taxco
all Michoacán, except the city of Morelia
in Morelos
the Lagunas de Zempoala National Park and surrounding areas
in Nayarit
the area within 20 km of the border with Sinaloa and Durango
the city of Tepic
all Nuevo León, except the city of Monterrey
all Sinaloa, except the city of Mazatlán
all Sonora, except the cities of Hermosillo and Guaymas/San Carlos and Puerto Peñasco
all Tamaulipas
https://travel.gc.ca/destinations/mexico
*****************************************
Thanks for your concern joblo. I’ve travelled all over Mexico and am not too worried but also use appropriate caution wherever I travel

Here’s an interesting article to help with perspective. I extracted one paragraph for a quick read,

https://worldview.stratfor.com/article/murder-mexico-whats-danger-american-tourist

“To put things further into perspective, Chicago has a population of 2.7 million — about the same as the number of Americans that live in Mexico (to say nothing of the 35 million that visited last year). Last year, however, 561 people died in homicides in the Windy City, more than seven times the number of Americans who were murdered in Mexico.”

#141 JonBoy on 06.26.20 at 2:13 pm

#130 Tater on 06.26.20 at 12:23 pm

What opinion do you have that you think you aren’t allowed to have? And why do you think that just because you express an opinion you should be free from criticism?

—-

If you don’t agree that systemic racism is embedded in Canadian society, you are labelled as ignorant or racist (or both). See Jagmeet Singh’s recent debacle for reference (another MP didn’t agree that the RCMP is systemically racist, without any sort of facts or investigation to back it up).

If you don’t agree that colour is the great reason behind “injustice” or “lower performance” or “lesser opportunities” (as opposed to culture, for instance), you’re dismissed as ignorant or racist (or both). Furthermore, if you bring up stats or facts or details to the contrary, they are also labelled as racist.

If you don’t agree with LGBTBBQ+ lifestyles, you are labelled a homophobe or, worse, a hatemongerer. You will probably lose your job if you say that in a workplace. I’m not talking about DOING anything bad to them, I’m talking about SAYING anything in disagreement!

If you don’t agree with affirmative action, you are labelled a racist, white supremacist or merely blind to your “white privilege”. Again, lose your job or resign.

If you don’t agree that Indigenous peoples need more money, you are labelled racist. If you don’t agree that Indegenous people have had their “fair share” of support and financing and opportunities, you are labelled racist. If you talk about systemic internal Indigenous issues, you are labelled racist or bigoted.

If you stand up for a police officer’s right to protect himself, regardless of who is attacking him, you are labelled insensitive to the needs of the person attacking them (see recent crazy lady that attacked an officer with a knife, was shot, and somehow that’s the officer’s fault that she was trying to kill him).

Say those things publicly, or in a public office, and you are soon going to be asked to give your resignation for whatever position/job you hold. It’s happened a bunch of times in Canada and the US recently.

Say ANYTHING that doesn’t line up with “Black Lives Matter”, “Indigenous people are downtrodden”, or “Let’s get some facts before we declare someone to be wrong” and you’ll see a massive backlash that could easily cost you your job, your career and even your security of person/life.

Talk about being responsible for your actions, rather than whining about how a police officer treats you after you break the law, and you’ll get crucified.

Put the onus on EACH person (on either side of the law, of any colour, race, religion or gender) and people won’t accept it. They want to have their cake and eat it – no personal responsibility but, by Dog, everyone else better do what they want…

Regarding that old mayor that refused to fly a pride flag: consider if that was Justin Trudeau saying that, he’d resign (or fly the flag) within a week. Why? Because he’s not allowed to say, “I don’t agree with that lifestyle. Fly the flag on your property but I don’t want to do it on mine or anything that I represent or control.”

Go ahead – tell me you can express an opinion on these issues (contrary to whatever prevailing opinion is out there right now) and still be treated with the same respect and consideration as those on the other “side” of the discussion. You won’t because you can’t say it with a straight face. Reasonable, intelligent, logical discourse is essentially forbidden right now.

#142 Dr V not on UBI on 06.26.20 at 2:50 pm

143 Jon Boy

“Regarding that old mayor that refused to fly a pride flag: consider if that was Justin Trudeau saying that,
he’d resign (or fly the flag) within a week. Why?
Because he’s not allowed to say, ‘ I don’t agree with
that lifestyle. Fly the flag on your property but I don’t
want to do it on mine or anything that I represent or
control.’ ”

I live in a small BC town. Seems we have rainbow crosswalks now.

Previously, crosswalks were painted in a standard within a range that is internationally accepted and recognized by everybody for the protection of pedestrians of all races, colours, nationalities, ages, genders, bodyshapes, preferences etc. Seemed to me that was
the purpose.

They have been turned into a political statement.

I wonder if I am struck in one, if the motorist can claim that I was crossing illegally as I was not in a properly marked crosswalk?

#143 Gigi DiSantos on 06.26.20 at 3:01 pm

Dan August it really has happened already with the TSX since 2007.

In 2007, the TSX high was 15,000 today it is currently 15,188. It did not go nowhere except the low 1.5% to 2.0% dividends over many years but with annual fees of 0.5% to 0.75% a year not much change over 13 years, maybe 15% total return over 13 years. It is very dismal.

I know you are so supposed to be diversified in many asset classes and industries, businesses but this just shows how a prolonged period of stagnation can happen even if other economies, equity markets are not.

Ever hear of rebalancing? – Garth

#144 Deplorable Dude on 06.26.20 at 3:02 pm

#143 Jonboy.

Killer Post!

I’d add the following to subjects that will get you ostracized, vilified, etc…

Not accepting the concept of ‘White Privilege’.

Not accepting the concept that people can ‘change sex’.

And the biggie that even the likes of Jordan Peterson is reluctant to discuss in any detail…..IQ is the primary factor that determines how well an individual will do in society. (What ever you don’t Google World IQ map).

#145 Tater on 06.26.20 at 3:09 pm

#143 JonBoy on 06.26.20 at 2:13 pm
……

Go ahead – tell me you can express an opinion on these issues (contrary to whatever prevailing opinion is out there right now) and still be treated with the same respect and consideration as those on the other “side” of the discussion. You won’t because you can’t say it with a straight face. Reasonable, intelligent, logical discourse is essentially forbidden right now.
—————————————————————

Cool. So, you’ve answered the first question, how about the second? Why do you think you should be able to say whatever you want without criticism?

#146 Sail Away on 06.26.20 at 3:12 pm

#143 JonBoy on 06.26.20 at 2:13 pm

————-

Well said.

#147 JonBoy on 06.26.20 at 6:20 pm

#147 Tater on 06.26.20 at 3:09 pm

Cool. So, you’ve answered the first question, how about the second? Why do you think you should be able to say whatever you want without criticism?

—-

I’m fine with criticism. I’m not fine with vilification, loss of employment, loss of personal security, threats to life and limb, slander, etc.

Anyone that speaks their opinion should be able to accept that the hearer doesn’t agree and may express that disagreement in many forms (including criticism, anger, disgust, etc). Those are all okay.

However, “hurting someone’s feelings” or “not being sensitive” is not an excuse to attack the speaker the way we are seeing. I’m not responsible for your feelings.

Attacking or removing a person’s ability to make a living, hold a public office or otherwise exercise their freedom of thought, religion, personal morals or (drum roll) personal opinion is what we are seeing. It’s wrong and the effects will be devastating on the country’s economy, politics, family structure and our ability to compete globally.

A very wise man once said this, about a “hard question” that was asked of him, where he knew the questioner would not agree with his answer. This was based on the questioner’s agreement that we live in an autonomous culture (self-law, where each person determines their OWN personal beliefs and moral laws), as opposed to a heteronomous (one person or small group determines all laws/beliefs) or theonomous (God-based law/beliefs) culture:

“If we are an Autonomous Culture, and I answer your question, are you going to give me the privilege of my autonomy too, or as soon as you disagree with my answer, you will switch to an Heteronomous Culture mode and dictate for me what I must believe as well?”

We’ve entered the place where only one side has free speech, freedom of expression, freedom of disagreement and (by extension) freedom of demonstration. That’s not criticism – that’s effectively a monopoly on discourse of any type. “My way or the highway” is not criticism; it’s control.