Rate sex

Four months of virus, now. Ten million cases globally. The bug eating Texas and Florida. The White House losing control. Air Canada, Westjet ditching distancing. Masks everywhere. Condo units flooding the GTA market. Second wave with more hoarding threatened. No hockey in Vancouver. Locusts in India. Civil unrest in America. Toronto finances crumbling. Eight million on the dole and a million mortgages unpaid. Elevators as death traps. A US election that’ll rock the world.

Did I miss much? This is a year we’ll ne’er forget. And it’s not even July.

But enough doom, blog dogs. Let’s leave the gore and desperation for the MSM. For even in the darkest night there burns a flicker of hope. Many, actually. Today we’ll celebrate the unexpected gift just bestowed upon us by those two evil powers, Covid and the CRA.

It’s called the prescribed rate of interest. Yes, exactly. I’m aroused too. Here’s how it works…

Every few months the revenue guys set a new rate, based on three-month T-bills. Because the cost of money has been crushed by the Bank of Canada in response to the virus, the rate (effective Wednesday) plunges by half, way down to just 1%.

So what?

So you can now loan buckets of money to your married spouse, common-law partner or other family members at a rate which is absurdly low to accomplish income-splitting. Even better, if you set this loan up over the next three months (the rate could be hiked again later in the year), then the 1% is permanent for the life of the borrowing. It’s fixed, not variable. So imagine having that in place six years from now when the rate is, say 5%. Big win.

How does this income-splitting, prescribed-rate thing work?

Simple. If you and your squeeze earn different levels of income with one of you in a higher marginal tax bracket – or perhaps one person at home looking after the spawn – create a loan. Money is borrowed (at the ridiculously low rate of 1%) by the partner who is taxed less, then invested. Because it’s a loan, not a gift, all gains or income flowing from the investment portfolio belong to the borrower and are taxed in his/her hands. In other words, no attribution back to the person who actually made and owned the money. If the dough had been handed to the less-taxed person to invest and came as a gift, all returns or profits would be attributed back to the donor, and taxed at his/her higher rate.

There’s more. The interest, as piteous as it might be, is tax-deductible. So a stay-at-home mom, for example, can have a portfolio financed with a spousal loan and deduct the cost of that borrowing from the investment income. The same can be accomplished for minor children through a family trust. Loan the trust money. It pays 1% per year to get it. The funds are invested with the kids as beneficiaries. They get the benefit of the investment income and likely pay no tax. Or the trust can be used to finance their education (such as private school tuition) pay summer camp fees or buy them drums and amps.

Remember how beneficial dividends can be, by the way. A family trust could earn more than $53,000 per year, per kid, and pay not a nickel in income tax, if that is the beneficiary’s sole source of income. Same with a spouse who is out of the workforce, engaged in child care.

To make this loan arrangement work, there must be documentation in place which will withstand CRA scrutiny. Have a written promissory note drafted and ensure there’s a physical, actual, real exchange of interest by January 30th of each year. That payment is taxable in the hands of the lender and (as mentioned) deductible to the borrower.

Moving income and assets into the hands of a less-taxed family member through this type of loan can save your household a bundle. Just like establishing a spousal RRSP, into which the higher-earner contributes and reaps the tax break, but the money belongs to the spouse who can eventually withdraw it at a lower rate. Ditto for the strategy of the common expenses (food, accommodation, dog food) being paid by the person who earns the most while the other partner does all of the investing.

This, by the way, is completely opposite to the way 90% of most marriages work. Especially those suspicious, secretive husbands and wives who keep their finances separate and suffer financially (and emotionally) as a result. (Why did you get hitched if you don’t trust?)

Finally, the virus.

It’s not going away, as planned. Some US states are even suspending or reversing reopening measures. Trump ain’t helping. Economic activity will be further impacted. Mr. Market’s taking a dim view of it all. Volatility is returning. Assets values will be under pressure after a meteoric rise. The period between now and the American election (if there is one) could bring big opportunity.

What a wonderful time to loan all your money to your heartthrob. Just remember the 1% must be paid in cash not cuddles.

153 comments ↓

#1 Prussian on 06.28.20 at 12:56 pm

brilliant!
thanks for the daily dose of advice

#2 Penny Henny on 06.28.20 at 1:00 pm

#86 NoName on 06.28.20 at 10:30 am
@ penny hennessey

Low carb diet

What my usual day of 2050 calories I take is something between low carb, fat and carnevoare diet, only sugar that I consume is one that comes in Tim’s DD, rice sometimes fruit and occasional cheat of french fries and take out but that is rare. Vegetables for fiber and ofcourse Balkan style yogurt and probiotics supplement.
/////////////////

You mentioned your son has hyperthyroidism maybe you should get your thyroid checked too.
You might be suffering from hypothyroidism.

#3 TurnerNation on 06.28.20 at 1:05 pm

Greetings from cottage country. That’s a cabin to the Wexit folks.

Let me tell you how this all will be going down.
The bankers have left interest rates unchanged until 2022 – for a reason.
The current restrictions on human behavior – our training phase – will last until then.
Come 2023 when the debts become untenable expect some more action. Global currency? BK? Who knows.

What we are being trained on currently:
– How to #stayhome. Extended Travel will become a thing of the past. If not due to carbon taxes and high airfare rates.
– We are being taught to stay apart. Masked muzzled and no talking in line, slave.
– We are being forced into an online world not of our making. It starts with the kids. Online school. Sports and play dates are banned via Communism.
– We are taught to line up. Limit capacity.
Wait on our Spot/Mark to transact commerce.
Sit. Stay. Good slave.
– We are being taught to beg. UBI handouts.

Drugs will flow. For mental health issues caused by this sick system. Maybe you noted the new head shops and weed stores taking over the old closed shops in your neighborhood.
The new system is drugs +online.

The daily numbers are meaningless. Purely propaganda as all the old system culture will remain cancelled until 2022. See how they tell us Pro Sport athletes now get sick. As if. That Nascar stunt?
All part of the plan to cancel the Old System.
That and the meat plants

#4 Drill Baby Drill on 06.28.20 at 1:05 pm

I demand to be paid with far more than cuddles.

#5 50 YEARS OF MAPLE LEAF INCOMPETENCE! on 06.28.20 at 1:08 pm

“No hockey in Vancouver”

Well, Toronturds can certainly sympathize.

There hasn’t been real hockey in town for GTAholes for over 50 years!!!!

#6 yorkville renter on 06.28.20 at 1:30 pm

say I give my wife $10k to invest and CRA comes knocking on my door and asks her ‘where’d you get the $$$?’ and she says ‘from my husbands after-tax income’… what’s it matter to CRA? it shouldn’t

#7 Millennial Realist on 06.28.20 at 1:31 pm

A taste of what is to come, from this week’s email news blast from the NDP:

“This month’s PBO report showed that the richest 1% of Canadians have more than 25% of the country’s wealth. That’s about 3 trillion dollars between them. THREE TRILLION.

That stinks — and it’s why we need to bring fairness back to our finances through a wealth tax. While the other parties are looking for ways to cut deals and create loop-holes for the super-rich, New Democrats are proposing a 1% wealth tax on people with more than $20 million. That 1% from the 1% will go a long way to reinvest back into the things that matter to me and you.

The ultra-wealthy aren’t interested in change; they simply prop up the status quo because it benefits them. Keeping them extremely rich while millions of Canadians struggle to make ends meet. Well, we aren’t in it for them. We’re working for you.”

Boomers, do you have any idea how massive the coming change will be?

Or will you just be run over by it?

#8 Buy? Curious? on 06.28.20 at 1:33 pm

Garth, no Drake reference?

#9 kingston boy on 06.28.20 at 1:38 pm

looks like the kansas city chiefs will be getting a name change. next to gu under the ban hammer – pictures of blonde-haired, blue-eyed jesus.

#10 crowdedelevatorfartz on 06.28.20 at 1:41 pm

Excellent financial/taxation advice.

Garth, any concerns about the Canadian govt spending/borrowing so much money in the next 12 months( after a Liberal win in the next election?) that these tax breaks will be abolished/changed to the govts taxation advantage?

#11 crowdedelevatorfartz on 06.28.20 at 1:44 pm

@#3 Turnernation

“That and the meat plants…”

+++++

Soylent Green is people!

https://www.youtube.com/watch?v=Xs-gocza6t8

#12 Dexley on 06.28.20 at 1:57 pm

Another excellent and thought provoking post. I am wondering for the vast majority of Canadians who don’t have their TFSA & RRSPs maxed out if that should be the first step? Or with the ridiculously low interest you may want to consider the loan and non registered route anyways and worry about catch up in the future. What is everybody’s thoughts on this?

#13 NoOneOfConsequence on 06.28.20 at 2:02 pm

@TurnerNation

Dude…there is no plan. Sounds like too much weed and youtube up in cottage country.

The problem is the LACK of a cohesive plan, not that there is some conspiracy theory.

We haven’t had a true leader in most of the western world for decades. Nothing but middle managers the lot of them.

#14 Stone on 06.28.20 at 2:05 pm

The same can be accomplished for minor children through a family trust. Loan the trust money. It pays 1% per year to get it. The funds are invested with the kids as beneficiaries. They get the benefit of the investment income and likely pay no tax. Or the trust can be used to finance their education (such as private school tuition) pay summer camp fees or buy them drums and amps.

———

Does this apply to an informal “in trust” account as well or only with a formal family trust?

If it is only to a formal family trust, the administration becomes more onerous and costly as well as filing taxes for the formal family trust. If that is the case, at what dollar amount does this make sense and where is it better to not bother?

#15 Looking up on 06.28.20 at 2:05 pm

Greetings from cottage country. That’s a cabin to the Wexit folks.

Let me tell you how this all will be going down.
The bankers have left interest rates unchanged until 2022 – for a reason.
The current restrictions on human behavior – our training phase – will last until then.
Come 2023 when the debts become untenable expect some more action. Global currency? BK? Who knows.

What we are being trained on currently:
– How to #stayhome. Extended Travel will become a thing of the past. If not due to carbon taxes and high airfare rates.
– We are being taught to stay apart. Masked muzzled and no talking in line, slave.
– We are being forced into an online world not of our making. It starts with the kids. Online school. Sports and play dates are banned via Communism.

———————-

In 1-2 years things will go back to how they were and this will be but a blip in our memories.

Sh_t happens and we are a resilient species.

#16 crowdedelevatorfartz on 06.28.20 at 2:08 pm

@#7 Millenial Surrealist
“Keeping them extremely rich while millions of Canadians struggle to make ends meet. ”

++++

Did you miss the part where the “extremely rich” just move themselves and their money to another jurisdiction?
YOU and your worker bee slaves will be taxed, taxed and taxed again to pay for Boomers health care and pensions.
Thank you .

#17 Doug in London on 06.28.20 at 2:19 pm

Not to worry because Trump is going to make America great again.

#18 Dolce Vita on 06.28.20 at 2:25 pm

“Finally, the virus.

It’s not going away, as planned.”

——————

Us Humans (as in scolding your dog):

“Bad Mother Nature, bad girl for NOT reading The Wall Street Journal and keeping track of the TSE, DOW, NASDAQ, S&P 100 (and REITs).”

Mother Nature:

“What’s that? Does it have anything to do with my red teeth and claws, promulgating my most recent viral creation and outwitting, yet again, that pesky species of Homo Sapiens (starting to regret that creation…why I created the virus)?”

——————

or MORE SIMPLY, the Occam’s Razor version of what Mother Nature hears from Homo Sapiens about its “planning” ala Ginger and the Cat:

https://i.imgur.com/LNpDTim.jpg

#19 Dolce Vita on 06.28.20 at 2:42 pm

BTW, good one on the income splitting Garth. Aware of it for some time, reads appreciated by many that read your Blog. Good.

————————

One last tidbit on that damn economy busting virus, gleaned from bitchy Twitter over the past week:

-The Left acknowledging that perhaps all those protests in close quarters were maybe not the best idea when it comes to beating COVID down.

-The Right acknowledging that maybe opening up bars, discos and cramped beaches was maybe not the best idea when it comes to beating COVID down.

COVID-19:

“Keep serving yourselves up in those loud, angry and slathered in beach baking oil Petri Dish Buffets…”.

#20 Michael King on 06.28.20 at 2:49 pm

An interesting look at ETFs.
https://sites.law.duke.edu/thefinregblog/2020/04/03/what-have-we-learned-so-far-about-etfs-in-the-covid-19-crisis/

#21 conan on 06.28.20 at 2:51 pm

Monday may be a big sell off day. The entire week looks dubious. Stock market etc being controlled by Muppets at the moment. There is only so much bad news it can take before it starts to ski down the V.

https://www.youtube.com/watch?v=4Ysq8dsKJ54

#22 Ballingsford on 06.28.20 at 2:55 pm

So, would you use these loans to buy non-reg investments.

#23 BobC on 06.28.20 at 2:58 pm

DELETED

#24 NSNG on 06.28.20 at 3:09 pm

@#92 Oakville Rocks! on 06.28.20 at 11:49 am

Seeing as Beethoven is being discussed by Dr V & NSNG, are you partial to any specific recordings of Beethoven by conductors/orchestras? At this point I have explored most of Karajan and the Berlin Philharmonic on vinyl and would recommend any of them. I think Karajan made 3 cycles of the Symphonies throughout his career. It is interesting to hear his interpretation evolve.

Also, you cannot go wrong with any of Dr Robert Greenberg’s lectures on Classical Music as part of the Great Courses. I listen through Audible but I believe they are available elsewhere and maybe free somewhere.

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

Unfortunately, I never went that deep. I’ve drifted away from the music but may take it up again soon. I miss it. It heals the mind

#25 Dolce Vita on 06.28.20 at 3:12 pm

Quick update on Italia:

-Economy as messed up as anybody’s, well, it was before COVID, worse now.
-Fully open economy for almost 1 month now incl. Int’l Travel.
-COVID-19 pretty much BEATEN DOWN:

New Cases = 174 (almost 1/2 in bloody Lombardy, as usual)
ICU beds (98)
Deaths (22)
Tests: 8787/100K, ≈5.31 MM tests.
Regions: 8/21 = 0 new cases, 19/21 ≤ 15 new cases.

Probably why we aren’t making news anymore in Canada, the US and other European nations.

————————

Come visit IL BEL PAESE Canada, you’re not on the EU travel dung list (as the Poor Americans are)…Italia could use the money right about now.

Oh, leave the Tilley Hats at home (or wear them in Germany & not Italia), try not to nude sunbathe on our over 300 Blue Flag beaches like the Nordic’s, Germans and the Austrians, do not jump in our fountains, that are older than Canada like you did last year and for the Love of God dump the half naked GAP outfits and flip flops…you look ridiculous, worse with a Tilley Hat on.

And pick up and carry the luggage instead of rolling over our millennia old cobblestone streets after 11 PM…I know it’s an open air museum to you all BUT some of us actually live here and would appreciate a good night of sound sleep.

Andrà tutto bene —> È andato tutto bene.

PS: if you are going to fashion shop in Milano, wear a mask (Milano is in Lombardy), as good, other major cities have many of the big name labels such as Roma, even tiny Venezia (SW of Piazza San Marco, don’t forget Harry’s Bar it’s in the area) or Bologna, etc. Or see in their is a “Rinascente” store in the area, they are a combination of big name label store fronts under 1 roof…yes, that’s me trying to get you to ditch the GAP, Aritzia, H&M and Zara outfits for something MUCH better from Italia.

#26 BobC on 06.28.20 at 3:25 pm

Deleted?? Did I need more links or you just didn’t like the message?

Time for you to politely leave this blog. – Garth

#27 NFN_NLN on 06.28.20 at 3:27 pm

#16 crowdedelevatorfartz on 06.28.20 at 2:08 pm
@#7 Millenial Surrealist
“Keeping them extremely rich while millions of Canadians struggle to make ends meet. ”

++++

Did you miss the part where the “extremely rich” just move themselves and their money to another jurisdiction?

First of all that can’t happen, and has never happened in history. Read this article:

https://www.cnbc.com/2020/04/30/wealthy-new-yorkers-flee-manhattan-for-suburbs-and-beyond.html

#28 Don Guillermo on 06.28.20 at 3:33 pm

#16 crowdedelevatorfartz on 06.28.20 at 2:08 pm
@#7 Millenial Surrealist
“Keeping them extremely rich while millions of Canadians struggle to make ends meet. ”
++++
Did you miss the part where the “extremely rich” just move themselves and their money to another jurisdiction?
YOU and your worker bee slaves will be taxed, taxed and taxed again to pay for Boomers health care and pensions.
Thank you
******************************************

It’s a tax strategy that has been tried in Europe and mostly abandoned. With little research it can easily be determined a fail. Excerpt from first link:

“Wealth-tax supporters do not seem concerned about the likely damage to economic growth. But they should know that from a practical standpoint, wealth taxes in other countries have raised little money and have been a beast to administer”

https://www.nationalreview.com/2019/03/elizabeth-warren-wealth-tax-european-nations/

https://www.businessinsider.com.au/4-european-countries-wealth-tax-spain-norway-switzerland-belgium-2019-11

Having said that, it seems exactly like another vote grabbing policy that this economy cratering government thrives on.

#29 Dirty Dan on 06.28.20 at 3:34 pm

#15 Looking up on 06.28.20 at 2:05 pm

In 1-2 years things will go back to how they were and this will be but a blip in our memories.

Sh_t happens and we are a resilient species.

———————-

That’s the spirit. If only the inhabitants from 1492 and on had the same attitude.

#30 Sail away on 06.28.20 at 3:37 pm

#25 Dolce Vita on 06.28.20 at 3:12 pm

Come visit IL BEL PAESE Canada, you’re not on the EU travel dung list (as the Poor Americans are)…Italia could use the money right about now.

Oh, leave the Tilley Hats at home (or wear them in Germany & not Italia), try not to nude sunbathe on our over 300 Blue Flag beaches like the Nordic’s, Germans and the Austrians, do not jump in our fountains, that are older than Canada like you did last year and for the Love of God dump the half naked GAP outfits and flip flops…you look ridiculous, worse with a Tilley Hat on.

And pick up and carry the luggage instead of rolling over our millennia old cobblestone streets after 11 PM…I know it’s an open air museum to you all BUT some of us actually live here and would appreciate a good night of sound sleep.

—————

So many rules, Dolce. Sounds like a kindergarten.

Why don’t you come visit Canada or the USA? Feel free to do or wear whatever you want. Nobody cares.

You’ve just killed my interest in visiting your place. Too judgmental.

#31 Classical Liberal Millennial on 06.28.20 at 3:43 pm

If my wife makes 75k, I make 50k, and we both have DB pensions, is there much of a benefit for us to look into this income-splitting scenario?

#32 TC on 06.28.20 at 3:55 pm

Hey Garth,

First time poster, if one spouse loans money to the other, how do you determine if the money was the spouse to loan in the first place?

Does a promissory note and records of transfer substantiates the transaction was arms length?

TC

#33 Paul on 06.28.20 at 4:08 pm

#26 BobC on 06.28.20 at 3:25 pm
Deleted?? Did I need more links or you just didn’t like the message?

Time for you to politely leave this blog. – Garth
————————————————————————————————
Yes that’s the ticket, more links. Lol

#34 Tired of taxes on 06.28.20 at 4:12 pm

#7 Millenial Realist
Here’s an idea. Why doesn’t the government cut back on spending so they don’t run out of money? They wouldn’t need tax increases. The real problem is the bloated inefficient civil service controlled by public unions that demand and receive luxurious pay and retirement benefits that ruling parties are too afraid to address in fear of losing that voting bloc.

#35 Irish Stew on 06.28.20 at 4:19 pm

Hello Garth…..considering the times we are in – could you do a write up on leveraging…..is the risk vs. reward there w/ today’s market volatility?

#36 FreeBird on 06.28.20 at 4:38 pm

Good articles on wealth tax (independent of virus). First is opinion piece on NDP proposal. Debate of if wealthy move to avoid taxes doesn’t cover strategies to minimize taxes by those w/resources and access to expert tax advice like our PM and Finance Min (1/10th of 1%) and others incl (by some) blind trusts, shell cos etc. Definitely not a clear cut issue or guarantee to fix the wealth gap/add funds to or help social services and reform but makes for good political email content to donors.

https://www.investmentexecutive.com/news/industry-news/examining-wealth-tax-proposals-in-canada-and-the-u-s/

https://www.ft.com/content/f9036af0-4009-11e9-9499-290979c9807a

https://www.google.ca/amp/s/www.nytimes.com/2019/11/15/your-money/wealth-tax-warren-sanders.amp.html

#37 the Jaguar on 06.28.20 at 4:45 pm

@#25 Dolce Vita on 06.28.20 at 3:12 pm
I liked your post. The references were funny and very true. I’m coming back to Italy. Not this year, but when I do it will include Bologna and then south to Ascoli Piceno and Pescara. Maybe Macerata for the Opera Festival.

bel Paese

#38 Scott on 06.28.20 at 4:45 pm

#26

Time for you to politely leave this blog. – Garth

Everyone brings joy to this blog, some when they enter, some when they leave.

#39 Reality is stark on 06.28.20 at 4:45 pm

Let’s not lose sight of the obvious.
Don’t get roped into buying real estate in the GTA because you can finance more house. The government has managed one more round of rate reductions and housing was goosed again. Don’t forget that taxes are going much higher. Your salary may actually be reduced going forward. Even though you can finance a 1 million dollar home for the price of a 2 bedroom apartment Canada and it’s Provinces are about to go through a series of ratings downgrades. There is a real possibility in two or three years it will cost more to borrow. Remember why we needed Paul Martin or have you already forgotten?
This is actually a premium opportunity to sell your home and get out of debt.
It’s going to get really ugly from here on in. There will be lots of suicides, divorces and permanent job losses.
They won’t be just taxing the rich. If they a can get enough millennial momentum to tax the “wealthy” that will be the excuse they need to steal everyone’s money.
This is not government for the people.
This is government for themselves. Don’t expect their pay or gold plated pensions to be affected.
This will be the largest transfer of wealth from the private to the public sector in the nation’s history and they have you right where they want you.
You are even stupid enough to vote for it.
After all it’s government that creates jobs while the private sector is mean and nasty.

#40 Lisa on 06.28.20 at 4:51 pm

Garth, who exactly has a bunch of money to lend in this manner? My hubby and I probably have more investments than most people we know, but between RRSPs, TFSAs, RESP and even an RDSP for a disabled child, where do we get the money for this? We appreciate the advice but please…be realistic!

Perhaps you should not have everything in registered accounts. – Garth

#41 The Poor Housewife with the Wealthy Husband on 06.28.20 at 5:06 pm

Hi Garth,

I want to be like Dorothy, so can you please send me a link about this tax advantage, so I can send it to my wealthy hubby . . . so he can lend me money and he will reap the tax benefits.

Thanks for being so wonderful (sucking up)

:-)

A spousal loan benefits the recipient, not the donor. The intention is to drop overall household taxes. – Garth

#42 Ace Goodheart on 06.28.20 at 5:07 pm

Been doing some reading on COVID-19 vaccines.

Apparently, as the virus mutates a lot, vaccinating against any particular strain is useless.

You’ll just catch another strain of it. It’s like a cold. You can get it over and over again.

So they have been looking at the spike protein that the virus uses to bind to the ACE-2 receptor (it’s “back door” into your body). They have been trying to get the human immune system to react to, and attack, a protein.

Which is, to anyone who has studied medicine, scary.

Proteins do all sorts of important things in your body. Training your immune system to attack them is like, say a particular nut on a machine is faulty, so you train a monkey to go and remove and destroy that nut, by showing it a picture.

You don’t want the monkey to remove and destroy all the nuts, because then the machine will fall apart.

So you are hoping it recognizes the right nut, and only removes and destroys that one.

If for some reason a person’s immune system starts attacking other proteins it is all over. The vaccine will be far more destructive than the virus.

At any rate from what I can see, you don’t want to be among the first few million people to be vaccinated.

Which probably doesn’t matter for us Canadians because the USA will purchase all of the first doses anyway. So we can watch them try it out.

If people’s bodies don’t start self destructing then we can go ahead with it up here.

#43 Marco on 06.28.20 at 5:08 pm

#37 the Jaguar on 06.28.20 at 4:45 pm
;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;

There is no a single decent painting in Bologna. Mortadella, yes.

#44 Ottawan on 06.28.20 at 5:17 pm

Maybe I’m missing something, but is there benefit to this when we’ve got space left in TFSA?

I mean, the lower income earner would have to pony tax on the gains when withdrawing RRSP, 3 years later, hopefully 20%. That might be more than the difference in tax rates between parties.

Why not stuff TFSA if there’s plenty room?

#45 Lead Paint on 06.28.20 at 5:56 pm

#14 Stone on 06.28.20 at 2:05 pm

Does this apply to an informal “in trust” account as well or only with a formal family trust?

If it is only to a formal family trust, the administration becomes more onerous and costly as well as filing taxes for the formal family trust. If that is the case, at what dollar amount does this make sense and where is it better to not bother?

—————————————————————————-

Yes to this question, and more questions like it! At what net worth value are we talking about making this a worthwhile tool?

We set up a holding company instead of a trust, based on feedback from our accountant. I *think* we decided that the overhead administration made it not worth our while. But we’re not rich kids likeMorneau and Trudeau, funny how they overlooked family trusts when dishing out ‘tax fairness’ and went after self-made entrepreneurs like me!

#46 Randy Swift on 06.28.20 at 5:59 pm

My brother suggested this to me a day ago. He did it already, 2.7% compounded for 10 year GIC at EQ Bank.

This way 30.52% total interest but only 10% of that is taxed in his hands and 20.52% is taxed in his spouse’s hands. He is in a 31% marginal tax rate claiming 32.76% of the interest income, she is in a 15% marginal tax rate claiming 67.24% of the interest income.

This is basically save them $31,600 taxes over 10 years.

#47 Nonplused on 06.28.20 at 5:59 pm

I don’t think you actually have to write your spouse a check, it would just go into the joint checking account anyway. But the higher earner would have to claim the income and pay taxes on it. As long as RevCan gets their blood all is well.

Anyway the tax system is way to complicated. They could really reduce it to 2 lines:

“What was your income for 2020? __________
Send it in.”

(No, not original.)

#48 Lead Paint on 06.28.20 at 6:01 pm

#34 Tired of taxes on 06.28.20 at 4:12 pm
#7 Millenial Realist
Here’s an idea. Why doesn’t the government cut back on spending so they don’t run out of money? They wouldn’t need tax increases. The real problem is the bloated inefficient civil service controlled by public unions that demand and receive luxurious pay and retirement benefits that ruling parties are too afraid to address in fear of losing that voting bloc.
—————————————————————-

Yes, exactly this. Lots of people lots income and business during COVID but not our untouchable governing overlords.

#49 ONE-HIT WONDER on 06.28.20 at 6:05 pm

YOU FORGOT about the SAHARAN dust storm that’s about to blanket the United States.

It contains extremely elevated levels of “who knows what the hell is about to happen” inside of the eye of its bipolar vortex.

#50 the Jaguar on 06.28.20 at 6:30 pm

@#43 Marco on 06.28.20 at 5:08 pm

You are probably right about that. If you want to look at paintings I guess you go to Florence or Rome. Both were places I enjoyed ( especially the Pantheon), but I always find the places I like best are the ones with fewer tourists. Bologna has great food (tortellini!) and all my costs there seemed to be 50% less than what they were once I reached the Tuscan hill towns. It was easier to experience the authentic experience of Italy. The east coast is supposed to have some lovely beaches, hiking trails, and sailing points to other places look appealing. A hedonist like me can always admire the Mona Lisa with a quick Google search, but prefers watching the sun set in a quieter, quality location with a nice glass of Italian wine. The fewer crowds the better for me. To each his own.
Dolce Vita might provide insight.

#51 Terry on 06.28.20 at 6:49 pm

DELETED

#52 cuke and tomato picker on 06.28.20 at 7:07 pm

Garth – What has happened to the Alberta advantage. You have the ability to get all the information to explain
how Jason Kenny is handling Alberta’s finances. I read the twitter of a famous Alberta writer and a U of C prof.
They are not happy with him.I would like your unbiased
account.

#53 Trojan House on 06.28.20 at 7:07 pm

So just like here in Canada where the provinces and provincial leaders determine the opening and closing of the economy, so do the state governors in the US. However, it seems Trump continues to get the blame for all the mayhem. Lest we forget that it was governor Cuomo of New York who sent Covid-19 infected patients back to the long term care residences where, as a consequence, thousands died.

The spike in “cases” absolutely has to do with the amount of testing being done in those states. For example, we all hear about Florida. Florida is testing thousands of people a week. Last week, they tested close to 70,000 up from about 58,000 the week before. There were 9,000 new “infections.” However, left out of the reporting from the MSM is the infection rate. Which like the week before, was about 12% – in fact, slightly less than previous weeks at around 14%. So, yes, more testing means more cases however, the rate remains consistent at around 12%. Not only that, but they’ve also conveniently left out the false positive rates.

Also, left out of the story, although reported in NPR, doctors in Florida are seeing less Covid patients at hospitals.

On the majority of Garth’s post, I think I will look into this!

#54 Nonplused on 06.28.20 at 7:09 pm

#7 Millennial Realist on 06.28.20 at 1:31 pm

“A taste of what is to come, from this week’s email news blast from the NDP:

“This month’s PBO report showed that the richest 1% of Canadians have more than 25% of the country’s wealth. That’s about 3 trillion dollars between them. THREE TRILLION.

That stinks — and it’s why we need to bring fairness back to our finances through a wealth tax.”

——————-

Define “fairness” and “wealth” as used in your reasoning.

As I calculated here some time back Canadians have somewhere around $3.5 trillion dollars of equity just in their homes. So it’s not like everyone is broke.

In any “fair” system the outcome follows a statistical distribution of some form. In the case of wealth you can’t go below zero so the shape of the curve is at least log normal but more likely Pareto. You see it in almost every field of human endeavor from music, sports, IQ, beauty (as currently defined), singing ability, life span, etc., etc., to even who wins at Monopoly. The fact is nothing is “evenly distributed” in a “fair” system. Only the 24 best hockey players in Canada get to go to the Olympics. The numbers are even worse for skiers. Wealth is no different and I don’t see a compelling reason why it should be in a “fair” system, if “fair” is meant to mean we are all playing by the same rules. The fact is Tiger Woods made billions playing golf whereas I have to pay to play despite the fact that our handicap is only 36.4 apart (it would be more but that is the max). That is the Perato distribution for you. It is also why Adelle can sell millions of albums but if I start singing people beg me to please stop. Nothing “fair” about it if “fair” means “evenly distributed”. I’d have liked to go to the Olympics. Looks like a blast. But I don’t even get invited to beer league anymore.

“Wealth” is perhaps easier to understand but what must be first understood is that most wealth is not money. You can’t transact it without monetizing (liquidating) it first. That is why wealth taxes have failed everywhere they have been tried. First of all nobody really knows what something is worth until it is sold and second of all the rich don’t tend to have much money. They have productive assets that produce income, on which they are already taxed at pretty steep rates.

So to construct a “strawman” of your argument, it seems to me you think Monopoly would be more fair if every time someone got ahead they had to divy up their money and houses to the other players. That would be one way to play I suppose but the game takes long enough as it is already.

Remember folks (for Flop again), the average Canadian enjoys a lifestyle that medieval kings would have been envious of, and only the homeless live like a common serf did. That such an explosion of wealth still follows the Pareto distribution is pretty much unavoidable and in fact may be a necessity. You can’t build a factory and create jobs unless you are by definition “rich” or very much on your way to being so. It is a necessary evil if it can be said to be evil, but we’d have to define that too. Evil is “an xBox and a 52 inch TV for everyone, even the kids!” I’ll take it.

And as my friend’s father was found of saying, “The only difference between the rich and the rest of us is that the rich smoke finer cigars, drink more expensive Scotch, and date younger women.”

—————————

Flop and the others who don’t like long posts can use the scroll wheel now because this is just a personal story illustrating the Pareto distribution in sports.

Years ago when I still had knees that worked I participated in the “Monday Night Adult Race League” at COP. Teams of 4 and the scoring was adjusted for age (i.e. “fair”, old people scored higher at slower speeds than the young bullets did). I finished dead last every single race even after having my time adjusted for being about the oldest guy there. But my team did not replace me because I was still faster than anybody else they could find who would come out.

COP is a short hill so being 5 seconds behind the young bullets in the speed suits was an eternity. But that is how the Pareto distribution works. There was nothing I was going to do to catch them without missing gates or risking a yard sale (a big crash that sends all your equipment flying). But the situation couldn’t have been any more “fair” as the rules favored me due to my age. I still finished last. Every. Single. Race. Damn you Pareto and your distribution!

#55 Bytor the Snow Dog on 06.28.20 at 7:15 pm

#83 Stone on 06.28.20 at 10:21 am last post whines:

“Hi Karen.”
————————————————————-
You have your Karen meme 100% backwards. But that’s to be expected from the likes of you.

#56 Bytor the Snow Dog on 06.28.20 at 7:22 pm

#87 Doug Rowat on 06.28.20 at 10:34 am pontificates:
“#78 Bytor the Snow Dog on 06.28.20 at 8:18 am

Care to link us all to a video of you exercising your “personal liberties”? A video of you ignoring mask rules in, say, a family medical clinic or seniors home would be especially sweet. Remember: show everyone your beautiful, unprotected face.

You might not like being a sheeple (fair enough), but in the end, you probably are one.

–Doug”
—————————————-
Sorry Doug, but no. Hey, Mr. Informed, do you know you don’t have to wear a mask at the doctor’s office? I don’t know anyone in a senoir’s home but nice try at shaming. I thought you were smart?

You would find a video of me “ignoring” the mask rule because I refuse to shop anywhere that requires one. So when my supplies run out either the mask rule will be rescinded or I’ll buy in the next jurisdiction over where they have no mandatory mask rule.

Triple fail Doug, triple fail.

BAA BAA Doug, baa baa.

#57 Leo Trollstoy on 06.28.20 at 7:23 pm

The biggest trick Canada played on itself was believing it could stop covid19

#58 n1tro on 06.28.20 at 7:45 pm

#44 Ottawan on 06.28.20 at 5:17 pm
Maybe I’m missing something, but is there benefit to this when we’ve got space left in TFSA?

I mean, the lower income earner would have to pony tax on the gains when withdrawing RRSP, 3 years later, hopefully 20%. That might be more than the difference in tax rates between parties.

Why not stuff TFSA if there’s plenty room?
—————–
If you do it Garth’s way, you get to reduce your income some more and still have the benefits of growing it in the TFSA. If you maxed out your TFSA, get the benefit and pay the next to nothing taxes at your wife’s $0 a year income since in the scenario she is a stay at home mom taking care of the brood.

#59 Bytor the Snow Dog on 06.28.20 at 7:49 pm

“Wouldn’t” find.

#60 Izzy Bedibida on 06.28.20 at 7:59 pm

How do I make this work as a single person?

OMG. – Garth

#61 Toronto Miami on 06.28.20 at 7:59 pm

“ The White House losing control.”
You wish!!!!

#62 DON on 06.28.20 at 8:09 pm

#33 Paul on 06.28.20 at 4:08 pm

#26 BobC on 06.28.20 at 3:25 pm
Deleted?? Did I need more links or you just didn’t like the message?

Time for you to politely leave this blog. – Garth
————————————————————————————————
Yes that’s the ticket, more links. Lol
**************
Ah ha ha ha ah…!

Maybe an imprint of Garth’s cowboy boot.

#63 The Woosh on 06.28.20 at 8:15 pm

#55 Bytor the Snow Dog

If the name fits…use it. That was a “Karen” comment you made Bytor. No one wants to catch the virus if they can help it. Stop being a tool.

#64 Nonplused on 06.28.20 at 8:15 pm

#56 Bytor the Snow Dog on 06.28.20 at 7:22 pm

I went to the dentist the other day because I have an implant that she insists on seeing every 4 months. The measures they were taking were incredible. Like it was a covid ward at a hospital (which I visited one a few weeks back because my mother-in-law was dying, so I know what it looks like). The medical practitioners are taking this thing about as seriously as they can. Over-reaction? Maybe. But when my mechanic tells me my brakes are worn out I don’t question him.

As a side note I asked my dentist why I didn’t get bumped to a later date since she hasn’t seen anyone in 3 months except for emergencies. She made some comments about my implant but it became clear that most of her clients are afraid to come in. I understand that when aids first became a thing dental offices had to change their protocols, but they did, and what they are doing now for covid is extreme in comparison. It’s aids++. And I don’t understand why liquor stores are more essential than the dentist. But anyway, I had reservations as well but in the end of the day I figured I should get in before the second wave. Not getting my hair cut though. Is long hair really such a big deal?

#65 Drinking on 06.28.20 at 8:19 pm

I am trying to get head around all this. Where do these people come up with ideas like this? Great for the ones that can take advantage of it but wow, there will never be doom and gloom as long as ideas like this appear, so, go for it, buy that house, condo, borrow as much as you can; there will always be another plan to bail you out if you do not catch Covid, another 163 k cases today alone! What a joke this world has become!

#66 crowdedelevatorfartz on 06.28.20 at 8:27 pm

@#49 One Hit wonder
“It contains extremely elevated levels of “who knows what the hell is about to happen” inside of the eye of its bipolar vortex.”
++++

I guess that’s to be expected from a bi-polar storm.
One minute it’s calm..the next minute ……

#67 n1tro on 06.28.20 at 8:51 pm

#60 Izzy Bedibida on 06.28.20 at 7:59 pm
How do I make this work as a single person?

OMG. – Garth
—————
Garth, I think you meant to write “OMG + SMH. -Garth”

#68 Matthew on 06.28.20 at 9:08 pm

Can it be invested in a tfsa?

#69 n1tro on 06.28.20 at 9:14 pm

#64 Nonplused on 06.28.20 at 8:15 pm
#56 Bytor the Snow Dog on 06.28.20 at 7:22 pm
————-
You question the logic behind liquor stores being left open because they are deemed “essential” while your dentist was forced to close but can’t see the possibility that the whole mask thing being a farce?

Would it surprise people that use of fabric masks everywhere is NOT supported by high quality scientific evidence? Don’t believe me? Take it up with the World Health Organization as they are the one that said it.

https://www.who.int/emergencies/diseases/novel-coronavirus-2019/question-and-answers-hub/q-a-detail/q-a-on-covid-19-and-masks

#70 Wrk.dover on 06.28.20 at 9:32 pm

There would be fewer heatwaves if there were fewer thermometers. Trump Logic.

#71 Sail Away on 06.28.20 at 9:36 pm

#64 Nonplused on 06.28.20 at 8:15 pm

Not getting my hair cut though. Is long hair really such a big deal?

—————-

Swing by the plantation and I’ll pull out the livestock clippers. 2 minutes for a total buzz and 10 minutes for a real haircut. Price is one six pack that we share.

#72 Ace Goodheart on 06.28.20 at 9:49 pm

So managed to get out onto our new cedar dock today. The smell is heavenly. 2×6 solid red cedar planks laid onto the same. Foam not barrels (foam lasts forever).

There is something indescribable about sitting on a dock, as the waves pass underneath you and the dock moves to the rhythm of the water.

You are separated from the shore. Part of the lake. Like a water strider or a frog on a lily pad. You’ve joined a different ecosystem and left the earth behind. You are water now.

Spent your life as earth. Never had the courage to be fire. Now you are water.

It is different than being on a boat. The boat maintains its connection to the land. The floating dock does not. The dock becomes water that you can walk on. Sit on. Fall asleep on.

Watched the movie “Out break” to try to scare ourselves.

Did not work. Movie makes no sense. That virus could never work. It kills the host too quickly. It would die out.

The perfect virus needs to be very contagious, but only kill about 2-5% of the hosts. It should make about 20% very sick. Everyone else should have mild symptoms.

That virus will spread very well. It will ensure it’s own survival.

#73 Stone on 06.28.20 at 10:11 pm

#55 Bytor the Snow Dog on 06.28.20 at 7:15 pm
#83 Stone on 06.28.20 at 10:21 am last post whines:

“Hi Karen.”
————————————————————-
You have your Karen meme 100% backwards. But that’s to be expected from the likes of you.

———

Nah. I checked. It’s definitely you, Karen.

https://www.tmz.com/2020/06/28/another-karen-has-grocery-store-meltdown-over-mask-policy-throws-food/

Are you getting hungry yet?

#74 Stoph on 06.28.20 at 10:17 pm

#22 Ballingsford on 06.28.20 at 2:55 pm

So, would you use these loans to buy non-reg investments.

—————————————————————–

Yes. For registered accounts, you can gift money to a spouse’s TFSA or use a Spousal RRSP.

#75 Unhinged Trader on 06.28.20 at 10:26 pm

DELETED

#76 TurnerNation on 06.28.20 at 10:32 pm

Re. Masks yesterday.
A smile is the universal currency.
They can’t take that away from us can they?
Oh they just did.

So Granny will die eh? Well they will anyway in those fetid homes. The lockdowns prevented not one death of old persons. Not one.

#77 fishman on 06.28.20 at 10:46 pm

I’ve gone by the MEC (Mountain Equipment Co-Op) on Main at least 3 times/week for the last month or however long since they opened. By far the longest lineups of any store in Vancouver. Consistently day after day. Around the block,people in folding chairs reading books lineups. Seemed a little over the top for yuppie clothes & shoes. Theres not that many people scaling the cliffs of Squamish.
My brother phones me up from the interior. There’s campers everywhere. Logging roads,turnarounds, gravel pits. Campgrounds are plugged.Any flat cleared ground you can pitch a tent beside your car is taken . Its open season because 90% of B.C. is crown land. But steep & forested. Not as many spots as you might imagine.
Of course, thats why the line-ups. People aren’t going to stay home or go to concerts,or sports events, or clubs, or festivals, or plays. Canadians are going camping & day hiking this summer. Like you’ve never seen. They were lined up for the technical gear. MEC gear doesn’t fall apart like cheap Chinese “crappy tire” crap.

#78 Dr V on 06.28.20 at 11:15 pm

24 NSNG/Oakville – I Started to collect in the 90s when you could get CDs for a few bucks from BMG. I have Karajan/BPO early 60s version of the symphonies. Always worth it to have other versions, but no other complete cycle.

Even though some prefer vinyl, most of the remasterings for CD from that time took great care to preserve the audio quality. If you can still get Penguin guides, they are a great reference.

One of my favourite CD labels is/was “Mercury Living
Presence” which are/were recordings from the early
days of stereo in the late 50s based on 3 track masters
(from 3 mics?). Amazing sound.

#79 Stoph on 06.28.20 at 11:24 pm

#46 Randy Swift on 06.28.20 at 5:59 pm

My brother suggested this to me a day ago. He did it already, 2.7% compounded for 10 year GIC at EQ Bank.

This way 30.52% total interest but only 10% of that is taxed in his hands and 20.52% is taxed in his spouse’s hands. He is in a 31% marginal tax rate claiming 32.76% of the interest income, she is in a 15% marginal tax rate claiming 67.24% of the interest income.

This is basically save them $31,600 taxes over 10 years.

—————————————————————

Why would you have 10’s or 100’s of thousands in GIC’s earning 2.7% rather than a balanced and diversified portfolio averaging 6-7%? Returns are then also taxed at the lower rate for dividends and capital gains.

#80 baloney Sandwitch on 06.28.20 at 11:29 pm

Wow, great column. 1% prescribed rate! You should explain this family trust thing to us one of these days. I am realizing more and more that rich people stay rich more by tax-avoiding than investing.

#81 Chaddywack on 06.28.20 at 11:31 pm

I have a wife that makes about 4x what I do (gross income).

This might be somewhat basic, but can anyone suggest to me how I would prove to CRA that she pays all the expenses and I do all the investing when we have a joint account?

Do I have to show CRA that when my pay gets deposited it immediately goes into the investment account, or would CRA simply look at my cumulative income after taxes and see that I have invested an amount equal to or less than that over the years we were married?

It’s nice to have a joint account, but it kind of complicates things too.

#82 belly rubs on 06.28.20 at 11:33 pm

Are you suggesting my prediction of an “h” shaped recovery is happening? hmmm… big drop followed by lots of little bumps and drops.

I have upped my seeded rows of popping corn from 2 to 4. Knee high now.

#83 belly rubs on 06.28.20 at 11:39 pm

#73
The “Karen” meme is ill spirited. Cool Karens are being maligned.

“Wilma” is more apropos. Watch an episode of Flintstones and see why.

#84 Noosance on 06.28.20 at 11:53 pm

#7 Millennial Realist on 06.28.20 at 1:31 pm

A taste of what is to come, from this week’s email news blast from the NDP:

—————-

I love millenials. They are so cute and they make me laugh. Especially when they play with numbers. Not one of their strengths, that’s for sure!

I thought I was experiencing heartburn, but then you mentioned NDP. And I realized it was just a bout of gas that I dealt with promptly. (poor dog was in the line of fire and had to take cover).

I find it amusing how millenials can’t be bothered to check their own work. (I attribute that to the plethora of “soft ” boomer teachers who give their students a “bye” no matter how miserably their students failed!)

Sounds to me like another entitled millenial. Now there’s something they are good at!

#85 Nonplused on 06.28.20 at 11:57 pm

#69 n1tro on 06.28.20 at 9:14 pm
#64 Nonplused on 06.28.20 at 8:15 pm
#56 Bytor the Snow Dog on 06.28.20 at 7:22 pm
————-
You question the logic behind liquor stores being left open because they are deemed “essential” while your dentist was forced to close but can’t see the possibility that the whole mask thing being a farce?

———————-

Dude (not sure I got the pronoun right), you can get masks now at Costco $28 for 50 and I think they are reusable if you leave them alone for a few days in the back seat of the car. Absolutely un-f-ing believable that people will spend $1000 on their brakes at the advice of their mechanic but they won’t believe anything a doctor says. That said I am about to light up a cigar and drink some rye. But I don’t think the doctor is wrong about the risks I take, I’m just stupid and I like cigars.

#86 SoggyShorts on 06.29.20 at 12:04 am

#53 Trojan House on 06.28.20 at 7:07 pm

So just like here in Canada where the provinces and provincial leaders determine the opening and closing of the economy, so do the state governors in the US. However, it seems Trump continues to get the blame for all the mayhem.

*********************
A single unified message from a calm and well-spoken POTUS would be a plus though, right? Maybe?
Or name-calling, threats, and an (attempted) rally. Either way.

#87 Lolo on 06.29.20 at 12:09 am

If I loan my hubby any money he’d keep it in a savings account. Hence, I don’t, and only contribute to his spousal RRSP, which I opened w/ our advisor. I had also suggested he should move his money from his savings to be invested by our advisor when our portfolio was down in March, but he didn’t listen. So to keep the harmony I just let it go and he does what he wants to do with his money, but then I do what i want with mine, too…which is, to stuff my own accounts after contributing to the spousal.

#88 Nonplused on 06.29.20 at 12:17 am

PS more on the Pareto distribution and why I skied in races as an older guy knowing I was going to lose. Every. Single. Race. Last. But it was still fun to smack gates and COP had a pub and I was friends with my team. And guess what? Even the young bullets in their speed suits were glad that I came out because you can’t really have a game with only one team. Something you screaming parents should think about. The young bullets only won because I was all they had to compete against. There is always somebody faster or smarter. If you do sports, be kind to your opposition. Without them, you won’t have a game.

#89 JD on 06.29.20 at 12:18 am

Will any promissory note do? Must it stipulate any special terms to be valid as a spousal loan in the eyes of the CRA? Must it also be paired with a loan agreement, or is just the promissory note sufficient?

#90 American election on 06.29.20 at 1:01 am

Thanks for the post Garth
Interesting comments OMG is right.
Okay you buried this little gem in post
Please explain what you mean if there is one?

The period between now and the American election (if there is one) could bring big opportunity.

#91 LunarNotion on 06.29.20 at 1:14 am

How can a simple little virus make a rational person a conspiracy theory consumer?

The science about this virus is pretty clear. We know what it is made of, and we have a good idea of how it infects. Perhaps what we knew the most about this virus was was known before it was detected – how it will move through populations. Simple models can predict quite well how the infection spreads and give scenarios where it doesn’t (simple models compared to the economic ones we are beholden to on this blog). We even see countries as different as Sweden and the USA test out the models live, with real people.

Can anyone really believe that the powers that be are so organized that they can implement a contactless, sedated, and mildly funded future for us all? I read that the most powerful government in the world found a way to send billions of relief dollars to the deceased. However, what conspiracy theorists are asking for is so much harder to do than that.

To believe that this same government can implement clandestine operations with the general public (and my favourite sports teams) and roll them out in the media daily in such a precise way that my blood boils each and every time I read the news would take a lot of faith and confidence in the ability of big government.

The small sacrifices one has to make to minimize infections (washing ones hands and not going in public when sick) are not a slippery slope to communism.

Also on this planet, numbers do matter. Implying that testing results and reported deaths in Canada and the USA is what got me writing this tonight.

Not going to work and physical distancing sucks for everyone except maybe conspiracy theorists who already live in the woods or in an underground bunker (after taking care of their finances as Garth so eloquently advises).

The financial devastation that the political response to this virus might have is what I show up for here these days. That and of course dogs and helpful hints like today’s blog.

I should have stayed away from the Comments and Conspiracies section tonight. Maybe I am just jealous that I’m not writing this from a cabin in cottage country.

#92 Viorelli on 06.29.20 at 1:39 am

Things are getting messy fast: economic activity is stalling worldwide, lots of anger on the streets as people are getting mentally unstable, costs are rising, have you been to a grocery store lately? There will be no second shutdown, even if the wave arrives in November, the economy simply will not be able to take another hit, the governments around the world are going broke, you will see some countries and their resources being written off completely, like Greece in not too distant past. Some places will survive, some will descend into full scale social unrest leading to a civil war. My relatives just moved to a farm in Siberia, huge piece of land, cattle, potatoes, cherry trees, lots of other fruit and veggies, 3 hot houses, big log house fully renovated, taiga is close by, just need to refresh your skills on how to hunt, fish, collect mushrooms and berries. He got several ak 47s, grenades, pistols, hunting rifles, hand guns, and a heavyweight machine gun he just bought off a retired corporal. He says that our diverse society, outscored economy, and wrong priorities together with lack of basic skills will be the demise of our western civilization. The hungry wolf is deadlier than a full one! I am constantly thinking about his words for almost a week now! Should I consider going back? Who knows, only the time will tell. We are all sailing into an uncharted territory.

#93 Gordon Gordonne on 06.29.20 at 1:54 am

“The period between now and the Nov election in the US could bring big opportunity”, agreed, to those who have been smart enough not to speculate on a V shaped recovery and wait, building cash, for the crash that is inevitable. The period ahead may only consist on deep value, utility , communications, other solid contract dividends no capital gain.

My best case scenario was always U shaped, and that was tinged with fairy farts, because I knew there would be a U shaped recovery over perhaps 4-5 years, and an L shaped recovery that might produce a (0’s influenced ‘death of a thousand cuts’ recovery over a ten year span. There is no case for a V recovery. Again, people are letting themselves be sucked in to not understanding the difference between a systemic recession and this one, a planned shut down by non market forces.

As of today I am 100% sure that no V shape recovery will appear, and if Trump loses and is replaced by Biden, who gets sick and is replaced by ‘any other idiot’, that the spook will run deep through the market and we’ll see that dreaded drop. I’m not saying a drop of 70% or anything like that.

I’m thinking the readjustment Democrats have announced is very likely the communist manifesto Ayers has put forth to Obama and has influenced so many Democrats and Liberals, markets will fall up to 25% and stay down for a decade.

With profits down and bashed by new government tax grabbing policies dividends will begin to fail outright as institutions retain cash to survive.

Think about getting married to a bitchy set of triplets, with policies like Naomi Klein, Hillary and Junior Trudeau. Wrap that fish in paper and sit with it for a while. Be very defensive and less optimistic going forward. Look at Trudeau’s history for an indication of his future. When he announced he’d kill of energy and mining many didnt believe he’d do it, they played along. The energy complex made green announcements hoping to cooperate. But Trudeau never meant to cooperate, as the energy companies took on a softer tone, Trudeau drove the knife in further.

That’s his plan, thats his personality and that of those who pull his strings. There’s no coordination in the killing of Canada, only a diverse mob of special interests threatening to pull funds and support if he doesn’t agree to kill the victim they have focused on. There’s a thousand of these killer orgs who all want to announce a victory over their ‘special victim’ resulting in the death of thousands of small companies and the loss of millions of jobs.

I believe this pattern of chaos will follow the US election if Biden, whose Democrats owe everybody big time, you’ll see the same fragmentation. A mass killing that begins to resemble a slaughter house.

Bottom line…..BTC…Gold…Utilities with long contracts. And if Trump wins, business as usual.

And perhaps a generational play….because the planet killers will want Iphones and Games. That’s my crystal ball call.

#94 PetertheSeparatistfromCalgary on 06.29.20 at 2:21 am

The death rate from Covid19 is actually going down in the US. The lame stream media is not covering this because they want Trump to lose the election.

Click here to see the graph which is updated frequently.

https://www.google.com/search?client=firefox-b-d&q=covid+19+death+rate+usa

#95 Where's My Money Gweedeau? Spent On Divorce/Charity, Bless Our Souls... on 06.29.20 at 4:01 am

Re: #67 n1tro on 06.28.20 at 8:51 pm
#60 Izzy Bedibida on 06.28.20 at 7:59 pm
How do I make this work as a single person?

OMG. – Garth
—————
Garth, I think you meant to write “OMG + SMH. -Garth”
++++++++++++++++++++++++
What should be really said is if you are SWF/SWM then you get SFA……
Bigly…

#96 Sail Away on 06.29.20 at 5:32 am

#72 Ace Goodheart on 06.28.20 at 9:49 pm

The perfect virus needs to be very contagious, but only kill about 2-5% of the hosts. It should make about 20% very sick. Everyone else should have mild symptoms.

—————-

Actually, the perfect virus would only make the host sick enough to ensure its (the virus’s) spread through sneezing, coughing, diarrhea, etc. Killing is inefficient. This is the path all viruses take over time as they mutate to less deadly forms.

This this the reason the Spanish flu was such an anomaly and the reason there is strong speculation that the body’s over-strong immune response, having previously been exposed to a similar flu, was actually the killer.

So relax, the Corvid will lose its potency. It’s not actually that dangerous now.

#97 LP on 06.29.20 at 6:43 am

#88 Nonplused on 06.29.20 at 12:17 am
If you do sports, be kind to your opposition. Without them, you won’t have a game.
*****************************
Sounds like good advice for lots of other areas of our lives.

#98 TurnerNation on 06.29.20 at 7:35 am

Cough cough. What science all I see is “chance”, “might”

As this weblog mentioned it:
https://www.cdc.gov/coronavirus/2019-ncov/testing/serology-overview.html
Updated June 25, 2020
“A positive test result shows you might have antibodies from an infection with the virus that causes COVID-19. However, there is a chance a positive result means that you have antibodies from an infection with a virus from the same family of viruses (called coronaviruses), such as the one that causes the common cold.”

*******
The goal of this New System rolled out as of Fri the 13th in March is the elimination of individual rights – in favour of group/herd rights only.

– Yellow Tractor guy noted, any opinion on Twitter questioning the media stories – and they are – results in a ban/deletion. Note that A.I. is doing this, not humans.

– You currently cannot prove your health. You are all sick and bound to slave protocols: harsh lineups, no cultural events or even weddings, strict routines and limits.
That’s right – there is no science being employed. Your local health Fuhrer can lock you down, mask you, take away more rights. All over #s on the tee-vee screen.
Those numbers rule our lives.
Virtual Berlin Walls (the new, cute name is “travel bubbles”) were erected overnight.

#99 Do we have all the facts on 06.29.20 at 7:50 am

My parents were happily married for 61 years.

My sister and I have both been divorced for over 25 years with no interest in running back into a burning house.

Close to 40 % of all Canadian marriages end in divorce and based on my experience the end often comes right out of the blue when your loving spouse decides to implement plan B.

In 1986 Canada decided to end the blame game and divorce settlements took an interesting turn. No fault divorce meant that all assets of the breadwinner, including pension benefits, became shared even if it was the loving wife that ran off with a neighbour.

Spousal support became based on the transfer of income from the employed party to the unemployed party. If I sound a little bitter it’s because I am. I was blindsided 30 years ago and am still paying for the privilege.

While a loan to your spouse may be a legal contract it is my experience that a divorce could result in a situation where the lender could become fully responsible for repayment of a loan made to enhance “Joint” retirement.

Caveat Fenerantis my fellow bloggers.

#100 Tater on 06.29.20 at 8:15 am

#56 Bytor the Snow Dog on 06.28.20 at 7:22 pm
#87 Doug Rowat on 06.28.20 at 10:34 am pontificates:
“#78 Bytor the Snow Dog on 06.28.20 at 8:18 am

Care to link us all to a video of you exercising your “personal liberties”? A video of you ignoring mask rules in, say, a family medical clinic or seniors home would be especially sweet. Remember: show everyone your beautiful, unprotected face.

You might not like being a sheeple (fair enough), but in the end, you probably are one.

–Doug”
—————————————-
Sorry Doug, but no. Hey, Mr. Informed, do you know you don’t have to wear a mask at the doctor’s office? I don’t know anyone in a senoir’s home but nice try at shaming. I thought you were smart?

You would find a video of me “ignoring” the mask rule because I refuse to shop anywhere that requires one. So when my supplies run out either the mask rule will be rescinded or I’ll buy in the next jurisdiction over where they have no mandatory mask rule.

Triple fail Doug, triple fail.

BAA BAA Doug, baa baa.
—————————————————————

Wearing a mask costs you, essentially, nothing, but might keep someone else from getting very sick.

Not wearing one doesn’t make you a renegade or a champion of freedom, just an @sshole.

#101 Tater on 06.29.20 at 8:32 am

#69 n1tro on 06.28.20 at 9:14 pm
#64 Nonplused on 06.28.20 at 8:15 pm
#56 Bytor the Snow Dog on 06.28.20 at 7:22 pm
————-
You question the logic behind liquor stores being left open because they are deemed “essential” while your dentist was forced to close but can’t see the possibility that the whole mask thing being a farce?

Would it surprise people that use of fabric masks everywhere is NOT supported by high quality scientific evidence? Don’t believe me? Take it up with the World Health Organization as they are the one that said it.

https://www.who.int/emergencies/diseases/novel-coronavirus-2019/question-and-answers-hub/q-a-detail/q-a-on-covid-19-and-masks
—————————————————————–

Instead of just posting a link, try reading it:

“in settings where physical distancing of at least 1 metre is not possible – such as on public transport, in shops or in other confined or crowded environments – WHO advises governments to encourage the general public to use non-medical fabric masks.”

#102 Bytor the Snow Dog on 06.29.20 at 8:37 am

To the Irrationally Afraid:

New Stanford study says Americans overestimate their risk contracting coronavirus.

Chance of contracting Virus from infected individual with no one taking precautions- 1 in 3836.

Chance of hospitalization, ages 50 to 64- 1 in 852,000.

Chance of death, ages 50 to 64- 1 in 19 million.

BIG. FAT. NOTHINGBURGER.

(Prediction: Here’s where all of the “think of the children and granny” types come to discredit the source)

#103 Bytor the Snow Dog on 06.29.20 at 8:40 am

@100 Tater- Thanks for proving my point. No logic, no rational arguments, just 100% fear and shaming. Because that’s all you’ve got.

My assessment that you are all sheep stands.

#104 crowdedelevatorfartz on 06.29.20 at 8:46 am

@#101 tater-tot
““in settings where physical distancing of at least 1 metre is not possible – such as on public transport, in shops or in other confined or crowded environments ”

+++++
crowded environments…..music to my ears.

https://www.mentalfloss.com/article/620533/can-farts-spread-disease

Conclusion?
A mask wont matter in my world.

#105 kingston boy on 06.29.20 at 8:47 am

@#77 fishman on 06.28.20 at 10:46 pm
I’ve gone by the MEC (Mountain Equipment Co-Op) on Main at least 3 times/week for the last month or however long since they opened.

MEC gear doesn’t fall apart like cheap Chinese “crappy tire” crap.
———————

at 20-30x the cost i would hope it lasts longer than crappytire crap. pretty sure the MEC stuff is also made in china though.

#106 Tater on 06.29.20 at 8:50 am

#103 Bytor the Snow Dog on 06.29.20 at 8:40 am
@100 Tater- Thanks for proving my point. No logic, no rational arguments, just 100% fear and shaming. Because that’s all you’ve got.

My assessment that you are all sheep stands.
—————————————————————-

If you can’t understand the logic of how wearing a mask doesn’t disadvantage you in any real way, but can provide a benefit to society, I’m not sure what to say. The fact that you’re so resistant, says far more about you than those of us who wear a mask.

As for fear, I’m not worried about catching this virus, but I’m very concerned about the economic effects of us trying to suppress it indefinitely. If mask wearing gets us through it faster, that’s a huge win.

#107 Wrk.dover on 06.29.20 at 8:57 am

USA has 8000 total cases per million

Japan has 145 total cases per million

Which country already wore the mask in crowds before the virus started?

#108 Dharma Bum on 06.29.20 at 9:12 am

Last week, Bill Maher referenced Premier Doug Ford’s comments about not wanting any Americans in Ontario, and how the U.S. totally “messed up” the handling of COVID.

Maher called him “Ontario’s Governor Rob Ford”. Haha.

On another note, Karen lives matter.

#109 David Hawke on 06.29.20 at 9:21 am

#100 Tater

Good lil sheeple, the vaccine line forms on the left, hurry now for BigPharma’s next attempt to slaughter you, EH!

#110 IHCTD9 on 06.29.20 at 9:24 am

#60 Izzy Bedibida on 06.28.20 at 7:59 pm

How do I make this work as a single person?

OMG. – Garth
—————

Garth, I think you meant to write “OMG + SMH.
++++++++++++++++++++++++

What should be really said is if you are SWF/SWM then you get SFA
— –

Well, that’s a real SOB.

#111 Tater on 06.29.20 at 9:45 am

#109 David Hawke on 06.29.20 at 9:21 am
#100 Tater

Good lil sheeple, the vaccine line forms on the left, hurry now for BigPharma’s next attempt to slaughter you, EH!
—————————————————————

Amazing how bad “Big Pharma” is at slaughtering people. How many attempts have they had?

#112 YVR Expat on 06.29.20 at 9:52 am

#107 Wrk.dover on 06.29.20 at 8:57 am
USA has 8000 total cases per million

Japan has 145 total cases per million

Which country already wore the mask in crowds before the virus started?
**********************

Thanks Karen

#113 Handsome Ned on 06.29.20 at 10:02 am

It is only a matter of time when some chump will demand that he can legally wed his latex love doll. ( A friend tells me that the new models are amazingly realistic). This will be a game changer for us single guys; tax splitting, driving in HOV lanes, plus the fact that real women seem to be attracted to married men.

#114 Jenn on 06.29.20 at 10:03 am

Garth, love your blog as always. I have learnt so much from you and this blog is a highlight each day as I am always wanting to learn.

I set up a spousal RRSP for my husband 7 years ago when he went through a period of unemployment. He left a high stress IT job and tried Real Estate and that didn’t work and eventually he was back to full time IT work in a better situation. In any event, I’m sure that i got it from you to set up the Spousal RRSP to ensure that we can income split down the road since I make more money and had well over $100K more in my retirement at the time. I know that you can income split at 65 now but i don’t trust that the Government won’t remove this ability down the road due to Covid. I also want my husband to have the same amount I do in his name. Who cares who funded what. It’s a true partnership and I’m proud of that. Anyway, just wanted to say thank-you. When the accounts are evened up, I will lower my funding to his plan and increase my plan’s funding. We are doing outside saving too in non-registered accounts.

#17 Doug in London – I wanted to thank-you for the laugh, that was a good one!

#115 Sail Away on 06.29.20 at 10:39 am

Whoop- another shooting death in CHOP plus some woundings.

https://www.google.com/amp/s/komonews.com/amp/news/local/2-critically-wounded-in-shooting-near-chop-area

Let’s see… what’s the mantra? Defund the police? Oh, definitely a demonstrably good idea. They must have been arguing over art.

#116 crowdedelevatorfartz on 06.29.20 at 10:40 am

@#113 Handsome Ned’s Mirror
“…he can legally wed his latex love doll. ( A friend tells me that the new models are amazingly realistic). …”

+++++

I guess it would cut down on “your friend’s” pillow talk and cigarettes…

#117 Sail Away on 06.29.20 at 10:45 am

#113 Handsome Ned on 06.29.20 at 10:02 am

…plus the fact that real women seem to be attracted to married men.

—————-

True. From personal experience, I can say that my wife does indeed seem attracted to me. Maybe it’s just my mad skilz, but good enough!

#118 n1tro on 06.29.20 at 10:51 am

#101 Tater on 06.29.20 at 8:32 am

Instead of just posting a link, try reading it:

“in settings where physical distancing of at least 1 metre is not possible – such as on public transport, in shops or in other confined or crowded environments – WHO advises governments to encourage the general public to use non-medical fabric masks.”
————-
If reading the whole thing is a requirement, why didn’t you post the rest of what the WHO said (paraphrased where there are not quotes)?

paragraph 1: “the widespread use of masks everywhere is not supported by high-quality scientific evidence”

paragraph 2: In some settings where people at closer than 1 meter apart, a mask “could”….please note they specifically don’t say “would” limit the potentially infectious droplets. They go on to add the scare tactic that sometimes people with no symptoms can spread even though earlier this month, their top doc said it was “rare” and not the a significant cause of the spread, but then walked that back the next day stating more research must be done.

paragraph 3: what you quoted above

paragraph 4: “Masks on their own will not protect you from COVID-19.”

The heated discussion is around being an a-hole for not wearing a mask EVERYWHERE because it of some divine logic that it helps prevent spreading the virus.

Wasn’t this the same logic that majority of people adopted when it all started but were told by doctors that non n95 masks were essentially ineffective?? But now the narrative is that it is going to save lives? If you want to save lives, sit the efff at home if you are sick with covid or any other virus. The rest of us are taking precautions but prefer not to be shamed for not wearing a mask while working out for example.

#119 Sail Away on 06.29.20 at 11:10 am

Here’s an idea: combine facemask with a feedbag. No more low blood sugar! That idea is a freebie- my contribution to the blog.

#120 ImGonnaBeSick on 06.29.20 at 11:17 am

#56 Bytor the Snow Dog on 06.28.20 at 7:22 pm
#87 Doug Rowat on 06.28.20 at 10:34 am pontificates:
“#78 Bytor the Snow Dog on 06.28.20 at 8:18 am

Care to link us all to a video of you exercising your “personal liberties”? A video of you ignoring mask rules in, say, a family medical clinic or seniors home would be especially sweet. Remember: show everyone your beautiful, unprotected face.

You might not like being a sheeple (fair enough), but in the end, you probably are one.

–Doug”
—————————————-
Sorry Doug, but no. Hey, Mr. Informed, do you know you don’t have to wear a mask at the doctor’s office? I don’t know anyone in a senoir’s home but nice try at shaming. I thought you were smart?

You would find a video of me “ignoring” the mask rule because I refuse to shop anywhere that requires one. So when my supplies run out either the mask rule will be rescinded or I’ll buy in the next jurisdiction over where they have no mandatory mask rule.

Triple fail Doug, triple fail.

BAA BAA Doug, baa baa.

Bytor, I like your comments and agree with a lot of them. But let’s have some respect for the hosts of this blog. You can disagree, but be respectful – you are a guest here and can be uninvited… As for the dummy blog dogs, have at it with us/them. We’re mostly a bunch of blowhards anyways..

#121 Tater on 06.29.20 at 11:20 am

#118 n1tro on 06.29.20 at 10:51 am
#101 Tater on 06.29.20 at 8:32 am

Instead of just posting a link, try reading it:

“in settings where physical distancing of at least 1 metre is not possible – such as on public transport, in shops or in other confined or crowded environments – WHO advises governments to encourage the general public to use non-medical fabric masks.”
————-
If reading the whole thing is a requirement, why didn’t you post the rest of what the WHO said (paraphrased where there are not quotes)?

paragraph 1: “the widespread use of masks everywhere is not supported by high-quality scientific evidence”

paragraph 2: In some settings where people at closer than 1 meter apart, a mask “could”….please note they specifically don’t say “would” limit the potentially infectious droplets. They go on to add the scare tactic that sometimes people with no symptoms can spread even though earlier this month, their top doc said it was “rare” and not the a significant cause of the spread, but then walked that back the next day stating more research must be done.

paragraph 3: what you quoted above

paragraph 4: “Masks on their own will not protect you from COVID-19.”

The heated discussion is around being an a-hole for not wearing a mask EVERYWHERE because it of some divine logic that it helps prevent spreading the virus.

Wasn’t this the same logic that majority of people adopted when it all started but were told by doctors that non n95 masks were essentially ineffective?? But now the narrative is that it is going to save lives? If you want to save lives, sit the efff at home if you are sick with covid or any other virus. The rest of us are taking precautions but prefer not to be shamed for not wearing a mask while working out for example.
———————————————————–

I haven’t seen anyone advocate mask wearing 100% of the time when outside of your home, nor people being shamed for not wearing masks when walking down the street.

But in a grocery store, or other enclosed area with other people, yes, you should be wearing a mask.

#122 Don Guillermo on 06.29.20 at 11:32 am

#105 kingston boy on 06.29.20 at 8:47 am
@#77 fishman on 06.28.20 at 10:46 pm
I’ve gone by the MEC (Mountain Equipment Co-Op) on Main at least 3 times/week for the last month or however long since they opened.
MEC gear doesn’t fall apart like cheap Chinese “crappy tire” crap.
———————
at 20-30x the cost i would hope it lasts longer than crappytire crap. pretty sure the MEC stuff is also made in china though
*******************************************

https://business.financialpost.com/news/retail-marketing/a-mountain-to-climb-mec-was-struggling-before-covid-19-now-the-pandemic-threatens-its-survival

#123 mike from mtl on 06.29.20 at 11:46 am

#107 Wrk.dover on 06.29.20 at 8:57 am
USA has 8000 total cases per million

Japan has 145 total cases per million
///////////////////////////////////////////////////////////////

These numbers have gotten such a political angle. But I wouldn’t put it past that Japan has been lowballing their figures for the 2020 olympics which were rescheduled anyway. Plus like some other places they test only after you’ve had symptoms that DID NOT recover on their own after consultation. To be honest is how they should have been counted to not ramp up the fear porn.

Not to mention if you’ve ever had to chance to be there, it’s impossible to have such low figures. Tokyo metro has more people than all of Canada in an area less than half the GTA. And that’s just 1 major city.

#124 mnpr on 06.29.20 at 11:51 am

#81 Chaddywack

option B. That’s what I did. Kept track in a spreadsheet the yearly net income of my wife (who made less than me), and investments in her rrsp, and in our joint non-reg, ensuring the investments were equal to or less for the year.
Can show that to CRA if they ask, but our income is low enough so I doubt they would ever bother.

#125 Unhinged Trader on 06.29.20 at 12:06 pm

Garth, you’re a petty, irascible coward and partisan for squashing a comment about the proven intellectual decay of Joe Biden.

Stay biased.

Maybe you should worry about your own decay. – Garth

#126 Faron on 06.29.20 at 12:06 pm

#110 IHCTD9 on 06.29.20 at 9:24 am
#60 Izzy Bedibida on 06.28.20 at 7:59 pm

How do I make this work as a single person?

OMG. – Garth
—————

Garth, I think you meant to write “OMG + SMH.
++++++++++++++++++++++++

What should be really said is if you are SWF/SWM then you get SFA
— –

Well, that’s a real SOB

LOL

#127 Stone on 06.29.20 at 12:09 pm

#118 n1tro on 06.29.20 at 10:51 am
#101 Tater on 06.29.20 at 8:32 am

Instead of just posting a link, try reading it:

“in settings where physical distancing of at least 1 metre is not possible – such as on public transport, in shops or in other confined or crowded environments – WHO advises governments to encourage the general public to use non-medical fabric masks.”
————-
If reading the whole thing is a requirement, why didn’t you post the rest of what the WHO said (paraphrased where there are not quotes)?

paragraph 1: “the widespread use of masks everywhere is not supported by high-quality scientific evidence”

paragraph 2: In some settings where people at closer than 1 meter apart, a mask “could”….please note they specifically don’t say “would” limit the potentially infectious droplets. They go on to add the scare tactic that sometimes people with no symptoms can spread even though earlier this month, their top doc said it was “rare” and not the a significant cause of the spread, but then walked that back the next day stating more research must be done.

paragraph 3: what you quoted above

paragraph 4: “Masks on their own will not protect you from COVID-19.”

The heated discussion is around being an a-hole for not wearing a mask EVERYWHERE because it of some divine logic that it helps prevent spreading the virus.

Wasn’t this the same logic that majority of people adopted when it all started but were told by doctors that non n95 masks were essentially ineffective?? But now the narrative is that it is going to save lives? If you want to save lives, sit the efff at home if you are sick with covid or any other virus. The rest of us are taking precautions but prefer not to be shamed for not wearing a mask while working out for example.

———

I’ll keep it simple. What you do more than 2 meters from me is your business. If you get closer than 2 meters to me, it becomes “my” business and you “will” wear a mask. It’s not a request.

Capiche?

#128 Wrk.dover on 06.29.20 at 12:20 pm

#112 YVR Expat on 06.29.20 at 9:52 am
#107 Wrk.dover on 06.29.20 at 8:57 am
USA has 8000 total cases per million

Japan has 145 total cases per million

Which country already wore the mask in crowds before the virus started?
**********************

Thanks Karen

——————————

Wrong answer.

Correct answer: Japan!

#129 Oakville Rocks! on 06.29.20 at 12:24 pm

@#78 & NSNG

Thanks for the replies.

I am by no means a vinyl snob. The fact is that classical vinyl (previously owned) is quite inexpensive and classical collectors tend to take great care of their vinyl.

If there is a recording I wish to hear and I find it on CD, I am all in. CDs are certainly more convenient and as you note, there are some outstanding recordings on CD.

Speaking of other worldly sound – take a look at this:
https://electricrecordingco.com/shop

New York Times article here on this guy and his process.
https://www.nytimes.com/2020/04/28/arts/music/electric-recording-co-vinyl.html?searchResultPosition=2

#130 Sail away on 06.29.20 at 12:49 pm

#127 Stone on 06.29.20 at 12:09 pm

I’ll keep it simple. What you do more than 2 meters from me is your business. If you get closer than 2 meters to me, it becomes “my” business and you “will” wear a mask. It’s not a request.
Capiche?

————–

The problem with being a tough guy is that it’s all relative.

When Gooch comes up without a mask, ‘will’ suddenly becomes, ‘if you want to, sir’.

But you might be able to intimidate some women and children.

#131 ImGonnaBeSick on 06.29.20 at 12:54 pm

#127 Stone on 06.29.20 at 12:09 pm
#118 n1tro on 06.29.20 at 10:51 am
#101 Tater on 06.29.20 at 8:32 am

Instead of just posting a link, try reading it:

“in settings where physical distancing of at least 1 metre is not possible – such as on public transport, in shops or in other confined or crowded environments – WHO advises governments to encourage the general public to use non-medical fabric masks.”
————-
If reading the whole thing is a requirement, why didn’t you post the rest of what the WHO said (paraphrased where there are not quotes)?

paragraph 1: “the widespread use of masks everywhere is not supported by high-quality scientific evidence”

paragraph 2: In some settings where people at closer than 1 meter apart, a mask “could”….please note they specifically don’t say “would” limit the potentially infectious droplets. They go on to add the scare tactic that sometimes people with no symptoms can spread even though earlier this month, their top doc said it was “rare” and not the a significant cause of the spread, but then walked that back the next day stating more research must be done.

paragraph 3: what you quoted above

paragraph 4: “Masks on their own will not protect you from COVID-19.”

The heated discussion is around being an a-hole for not wearing a mask EVERYWHERE because it of some divine logic that it helps prevent spreading the virus.

Wasn’t this the same logic that majority of people adopted when it all started but were told by doctors that non n95 masks were essentially ineffective?? But now the narrative is that it is going to save lives? If you want to save lives, sit the efff at home if you are sick with covid or any other virus. The rest of us are taking precautions but prefer not to be shamed for not wearing a mask while working out for example.

———

I’ll keep it simple. What you do more than 2 meters from me is your business. If you get closer than 2 meters to me, it becomes “my” business and you “will” wear a mask. It’s not a request.

Capiche?

Haha! Ok tough guy… I think you’d shake like a leaf at the first sign of a stiffled cough. I’ll put my money on N1tro… He sounds like a wrestler.

#132 n1tro on 06.29.20 at 1:02 pm

#121 Tater on 06.29.20 at 11:20 am

I haven’t seen anyone advocate mask wearing 100% of the time when outside of your home, nor people being shamed for not wearing masks when walking down the street.
—————–
mandatory masks required to date…
Venezuela
Vietnam
Czech Replublic
Slovakia
Bosnia and Herzegovina
Colombia
United Arab Emmirates
Cuba
Equador
Austria
Morrocco

Shame can be in the form of monetary fines like with the countries above or non monetary forms like berating each other as sheep or being a-holes either side of the argument.

#133 n1tro on 06.29.20 at 1:05 pm

#127 Stone on 06.29.20 at 12:09 pm

I’ll keep it simple. What you do more than 2 meters from me is your business. If you get closer than 2 meters to me, it becomes “my” business and you “will” wear a mask. It’s not a request.

Capiche?
———-
Let the rest of us know how that works out when you are in prison for assault and your cellmate makes you bend over to pick up that soap. I’m guessing it won’t be a request either.

#134 Sail away on 06.29.20 at 1:16 pm

#133 n1tro on 06.29.20 at 1:05 pm
#127 Stone on 06.29.20 at 12:09 pm
I’ll keep it simple. What you do more than 2 meters from me is your business. If you get closer than 2 meters to me, it becomes “my” business and you “will” wear a mask. It’s not a request.
Capiche?

————

Let the rest of us know how that works out when you are in prison for assault and your cellmate makes you bend over to pick up that soap. I’m guessing it won’t be a request either.

————

Haha. Owned.

#135 Tater on 06.29.20 at 1:29 pm

#132 n1tro on 06.29.20 at 1:02 pm
#121 Tater on 06.29.20 at 11:20 am

I haven’t seen anyone advocate mask wearing 100% of the time when outside of your home, nor people being shamed for not wearing masks when walking down the street.
—————–
mandatory masks required to date…
Venezuela
Vietnam
Czech Replublic
Slovakia
Bosnia and Herzegovina
Colombia
United Arab Emmirates
Cuba
Equador
Austria
Morrocco

Shame can be in the form of monetary fines like with the countries above or non monetary forms like berating each other as sheep or being a-holes either side of the argument.

————————————————————–

Thought from context it was clear I was talking about Canada, but pedants are gonna pedant I guess.

#136 Bytor the Snow Dog on 06.29.20 at 1:36 pm

Can’t help but notice that none of the irrationally afraid addressed comment 102 re: the odds.

#137 Sail away on 06.29.20 at 1:43 pm

Faron:

I’m interested in your thoughts about CHOP now?

My thoughts:

The ‘peaceful’ protest is about as peaceful as any reasonable person would expect an unregulated, unpoliced group of angry people would be. There have now been six or seven shootings, two deaths, many assaults and residents are fed up. The group’s message has been lost.

#138 n1tro on 06.29.20 at 2:01 pm

#135 Tater on 06.29.20 at 1:29 pm
————————————————————–

Thought from context it was clear I was talking about Canada, but pedants are gonna pedant I guess.
————
The context is Canada.

https://www.cp24.com/news/premier-ford-says-mandatory-mask-wearing-impossible-to-enforce-1.5001723

If we only had enough Covid cops to hand out tickets.
Imagine all that money!?…and oh yeah, people would be more protected, yeah, it’s about the people.

Coming to a dystopian future soon?

#139 Tater on 06.29.20 at 2:04 pm

#136 Bytor the Snow Dog on 06.29.20 at 1:36 pm
Can’t help but notice that none of the irrationally afraid addressed comment 102 re: the odds.
—————————————————————-
The pre-print study? The one that used tests from China that have a false positive rate of 1.7% and found 1.5% positive tests? The test that have been banned for export? The one that actual scientists spent a couple of weeks dunking on for failures in basic methodology and statistical analysis?

Why would anyone bother?

#140 Lambchop on 06.29.20 at 2:11 pm

#127 Stone on 06.29.20 at 12:09 pm

I’ll keep it simple. What you do more than 2 meters from me is your business. If you get closer than 2 meters to me, it becomes “my” business and you “will” wear a mask. It’s not a request.

_______________

Lemme see if I got this straight. You’re lock-stock on the wearing a mask thing, presumably because you’re afraid of catching this coronavirus, bit if I get too close to you without a mask, you’re willing to resort to, well I’m not sure what, but it sounds like physical contact might be involved. Interesting.

How about if you just stay away from people without masks on?

Capiche?

#141 Stone on 06.29.20 at 2:28 pm

#133 n1tro on 06.29.20 at 1:05 pm
#127 Stone on 06.29.20 at 12:09 pm

I’ll keep it simple. What you do more than 2 meters from me is your business. If you get closer than 2 meters to me, it becomes “my” business and you “will” wear a mask. It’s not a request.

Capiche?
———-
Let the rest of us know how that works out when you are in prison for assault and your cellmate makes you bend over to pick up that soap. I’m guessing it won’t be a request either.

———

Hmmm…are you talking from experience?

I don’t need to assault anyone. Telling them to back away is sufficient. Most people are cowards and when confronted, crumple and back down. I seem to have that effect. When you understand how people think, you understand how to control them.

You know it’s true. How many of you got triggered by my original comment?

All the tough guy/gal/zhe types on here. That’s who. So easy to see who the insecure, low self-esteem ones are. Let’s see how many of you can’t help themselves from responding as this is the only place you can feel strong. Weak.

#142 Deplorable Dude on 06.29.20 at 2:29 pm

“Second wave with more hoarding threatened”

US Covid19 death rates are still dropping. What we’re seeing is a bunch of 20-45 year old’s with no symptoms testing positive. Evidence from some areas point back to the recent mass protests.

Some ICU’s back up in the 90 percentile of usage…..which is actually normal.

No reason to freak out……unless you are trying to control a certain political narrative….

#143 crowdedelevatorfartz on 06.29.20 at 2:33 pm

@#127 Stone.
“If you get closer than 2 meters to me, it becomes “my” business and you “will” wear a mask. It’s not a request.”
+++

Good luck with that.

#144 ImGonnaBeSick on 06.29.20 at 2:41 pm

#141 Stone on 06.29.20 at 2:28 pm
#133 n1tro on 06.29.20 at 1:05 pm
#127 Stone on 06.29.20 at 12:09 pm

I’ll keep it simple. What you do more than 2 meters from me is your business. If you get closer than 2 meters to me, it becomes “my” business and you “will” wear a mask. It’s not a request.

Capiche?
———-
Let the rest of us know how that works out when you are in prison for assault and your cellmate makes you bend over to pick up that soap. I’m guessing it won’t be a request either.

———

Hmmm…are you talking from experience?

I don’t need to assault anyone. Telling them to back away is sufficient. Most people are cowards and when confronted, crumple and back down. I seem to have that effect. When you understand how people think, you understand how to control them.

You know it’s true. How many of you got triggered by my original comment?

All the tough guy/gal/zhe types on here. That’s who. So easy to see who the insecure, low self-esteem ones are. Let’s see how many of you can’t help themselves from responding as this is the only place you can feel strong. Weak.

——

Oh bud… This is called projection. We’ve been seeing it a lot in the Hyprocrite Class… It’s akin to calling someone a racist while you have a past of racist acts.. (ie. like wearing blackface).

Calling someone out for acting tough is a proud Canadian pastime… but doing the “hey guys, I was just joking about the violence” makes you look like an baby… Just stick to your guns, and say anyone that comes within 6 feet of me is gonna get some knuckles… We’d have respected you more.

Now why don’t you go grab your blanky and teddy, take a nap and try not to have nightmares of people sneezing in your general direction?

#145 n1tro on 06.29.20 at 2:45 pm

#141 Stone on 06.29.20 at 2:28 pm

Hmmm…are you talking from experience?
————-
If I was, would you be interested?! Lol.

I don’t need to assault anyone. Telling them to back away is sufficient.
————-
Go ahead and Karen away people all you like but pretty sure the people who aren’t wearing masks are taking precautions just like the people wearing them.

And just an fyi, assault does not need to be a physical contact with another. Your actions just need to be viewed by a reasonable person that would cause the victim apprehension of an unwanted touching.

#146 Overheardyou on 06.29.20 at 2:45 pm

Is any act of giving money to your spouse considered a gift? Do you have to write letter that says it’s an official gift? Or could you just deposit it in a joint account and the spouse moves it to their TFSA? How would the CRA establish the gains in a TFSA if you don’t have to file taxes on it?

#147 Lambchop on 06.29.20 at 2:46 pm

For Stone.
You should definitely wear a mask for this

https://m.youtube.com/watch?v=FWBUl7oT9sA

#148 JB on 06.29.20 at 2:51 pm

#70 Wrk.dover on 06.28.20 at 9:32 pm

There would be fewer heatwaves if there were fewer thermometers. Trump Logic.
…………………………………………………………………
Trump was recorded on the golf greens this weekend. Trump “That ball is in the hole, right?” “Yes I saw it go in the hole right?” Trump to the secret service staff around him, “In the hole right boys?” Secret service members “Yes Mr President its in the hole” Trump as he walks away from the tee to the caddy. “Give me another golf ball”

#149 Derek Ethier on 06.29.20 at 6:15 pm

Why would you need to loan money to a spouse if the cash is in the joint account?

#150 Vprophet on 06.29.20 at 6:52 pm

Ah delusion and illusion persist all is well in fantasy land. There will be no Christmas this year ….invest accordingly my loving flock.

#151 JD on 06.29.20 at 9:04 pm

#146 Overheardyou on 06.29.20 at 2:45 pm

Is any act of giving money to your spouse considered a gift? Do you have to write letter that says it’s an official gift? Or could you just deposit it in a joint account and the spouse moves it to their TFSA? How would the CRA establish the gains in a TFSA if you don’t have to file taxes on it?

————

The issue isn’t whether it’s considered a gift. The issue is the CRA’s attribution rules.

There’s a short summary here: https://www.taxtips.ca/personaltax/attributionrules.htm

And more information here: https://taxpage.com/articles-and-tips/tax-attribution-rules/

In brief, if your spouse uses the money you gave them to make money (for example, by buying a nice ETF full of preferred shares), then the income is attributed you and you must declare it and pay tax on it at your rate, not your spouse. (This doesn’t apply for TFSA contributions, while the funds remain held within the TFSA.)

Loaning your spouse the money, as Garth describes, prevents the attribution rules from kicking in.

#152 Smengy on 06.29.20 at 9:30 pm

#40 Lisa on 06.28.20 at 4:51 pm

Garth, who exactly has a bunch of money to lend in this manner? My hubby and I probably have more investments than most people we know, but between RRSPs, TFSAs, RESP and even an RDSP for a disabled child, where do we get the money for this? We appreciate the advice but please…be realistic!
Perhaps you should not have everything in registered accounts. – Garth
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You won’t want to hear this .. but welcome to the club. We all learn the hard way!

#153 Ken on 06.30.20 at 10:49 am

The Oracle of Lunenburg!

Thanks for the advice Garth.