Neck deep

By now you know the news. Red ink and guts everywhere in Ottawa. Harper’s $56 billion credit crisis deficit was just a warm up for Trudeau’s $343 billion pandemic hole. The last time the feds spent like this we were in World War 2. We’ve just seen the first credit downgrade in 25 years. And no other country in the world is facing a reversal of fiscal fortunes like ours – a 1,000% deficit increase over the forecast of a few months ago.

A third of the workforce has been idled. The jobless rate will (as this blog told you) still be 10% at Christmas and close to that level in 2021. Revenues have cratered by over $100 billion. The economy in 2020 will shrink almost 7%. In the Great Depression the decline was 10%. Close enough.

So, Canada will soon have a $1.2 trillion national debt. Without a shadow of a doubt, this means higher personal and business tax rates. A hike in the HST. The seeds sown for wealth and inheritances taxes. And a bad time to have a professional corporation.

Covid’s cost has been stunning, no doubt. The pandemic has also increased the scope and reach of government in a way that was unimaginable a year or two ago. Now with eight million people on the federal dole, there’s the expectation this level of support will continue. Face it – most Canadians like getting CERB and kiddie support deposits in their bank accounts. So the next stop is the UBI – universal basic income. After Finance Minister Bill Morneau’s little talk on Wednesday, there’s little doubt this is the agenda.

No point debating if this was the correct path. It’s history. Trudeau’s 74% approval rating shows it was political gold. Giving people $200 billion in direct payments over four months sure changes the polling numbers fast. If the virus continues to dissipate, we may be looking at an autumn budget and a spring election. Peter McKay better have some rabbits in his hat and horseshoes exiting his bottom, or this one’s already a lock.

What comes after CERB? More Herculean heaps of borrowed money?

This week the Parliamentary Budget Officer, that indie and sincere soul, said giving everybody income support until next spring would cost another $48 billion, or maybe $98 billion. It depends if the support would be reduced by 50 cents for every dollar earned, or a lesser amount – 15 cents. Annualized income would be about $17,000 for a single and $24,000 for a couple. This would allow about $15 billion in existing spending to be folded into the new program, but the cost would still be extreme.

The question, starkly, is how to ever turn off a tap that’s been opened? Trudeau already found he couldn’t end the CERB after 16 weeks. It was extended until October. Now it’s clear the program will morph into something else. The wage subsidy, Morneau announced, will be extended by another $50 billion. And so Canada seriously widens the tax gap with the US.

Well, get used to it. For example, the coming budget is likely to increase the capital gains inclusion rate (to 75%, if the NDP gets its way), which means you’d be wise to lock in some gains before that happens. We might well see a new tax bracket created to further ensnare and drive off the 1%ers. Self-employed who pay themselves exclusively through dividend income, rather than salary, might come to regret that choice.  Or there could be a lifetime cap placed on TFSA contributions or (more draconian) on accumulated tax-free balances. The feds could simply decide – since we don’t have enough rich people – to shift more tax from income to consumption, and bring the sales tax back up to pre-Harper levels.

Details to follow. This is just the warm-up. The government may not have had much choice but to subsidize a nation of over-extended, leveraged, indebted housing-lusty citizens who were completely vulnerable to economic shock. Letting them flounder would turn recession into something worse. But now, in hock to our necks, we need a plan. And an opposition.

By the way, Dorothy and I both received $300 direct-deposit payments into our joint chequing account on Wednesday morning, labelled ‘Canada Fed.’

Coincidence?

I think not.

 

238 comments ↓

#1 Steak for bandit! on 07.08.20 at 2:47 pm

By the way, Dorothy and I both received $300 direct-deposit payments into our joint chequing account on Wednesday morning, labelled ‘Canada Fed.’

Lucky bandit!

#2 Dave on 07.08.20 at 2:49 pm

War drums are beating loudly.

People are locked down but have income for food…structure is set.

Now USA to trigger proxy war with China

#3 HowDeepThe Pain? on 07.08.20 at 2:51 pm

Wow 343B and they are just getting started!

But what will be the legacy…
Huge Debt Burden?
Massive Taxes?
Or a new Generation wanting to stay home and get handouts?

(I was going to divide 343B by 8733 but my calculator won’t accept Billions)

#4 Alex on 07.08.20 at 2:51 pm

I don’t get it… Why couldn’t they turn off the tap/reduce handouts? We’re just printing money for all now? But why?

#5 AGuyInVancouver on 07.08.20 at 2:52 pm

Of course Mackay has a path to vistory. You may not like it, but it sounds like this: “Millions of Canadians unemployed and now you propose letting in 500,000 new immigrants this year Mr. Trudeau?!”

Whether you’re from Sri Lanka, Somerset or Singapore nobody likes fighting for dwindling jobs.

#6 Bartman on 07.08.20 at 2:52 pm

Canada fed. Please send $300.00 to the Conservative party and help save Canada.

#7 Cristian on 07.08.20 at 2:53 pm

Currently folding the prof corp in preparation for emigration from Canada, it’s been a good 15 years but all good things come to an end, hopefully will be in Portugal this time next year, no tax there for 10 years as new residents/immigrants!
Will be a big tax hit now in Canada, but less than what I would have to pay if I waited until next year.

#8 Don Guillermo on 07.08.20 at 2:55 pm

#175 Love_The_Cottage on 07.08.20 at 2:31 pm
#166 MF on 07.08.20 at 12:23 pm
…All societies have positive and negatives. Canada has way more positives than negatives…
________
Exactly. Same for our PM. He’s spending more money than I would like right now, but overall the tone and direction I support especially in comparison to other countries.
**************************************

“We’ve just seen the first credit downgrade in 25 years. And no other country in the world is facing a reversal of fiscal fortunes like ours – a 1,000% deficit increase over the forecast of a few months ago.”

You should change your handle to – Love_The_CERB

#9 Nick on 07.08.20 at 2:58 pm

.
I invite all bloggers and Warren Buffet to buy home in Lower Brainland BC. House prices never go down here, with double digit returns. Don’t be left out. Act fast says my honest realtor.

#10 Last of the GenX on 07.08.20 at 3:01 pm

Hey, so do we know when the new budget will be presented and will the rules retroactively apply? I have substantial cap gains and want to make sure I unload all my stocks before the new 75% tax comes into effect. 50% * 54% = 27% is already a lot to pay for an action that entailed very significant risk and could well have turned out differently :(

#11 earthboundmisfit on 07.08.20 at 3:05 pm

Got my “Canada Fed” yesterday. Turned it over to
Hamilton Food Share within five minutes.

#12 Prairieboy43 on 07.08.20 at 3:09 pm

House For Sale. New Fresh Smart Paint…………..
I am “Outta” here, ASAP.

#13 Linda on 07.08.20 at 3:16 pm

UBI. Dog defend us from the insanity.

#14 TurnerNation on 07.08.20 at 3:20 pm

Sometimes the truth can be scary but here it is.
Ontario extended their fictional ‘state of emergency’ almost forever. Why? I’ve been saying here for months: more of the Old System must be torn down for the New System. There’s always been a timeline for this. We are still in the Compliance stage (local business must also enforce this as you’ve noticed. You require the Mark in order to buy, sell)

– On the weekend someone mentioned to me that the “US empire will fall”. It’s clear.
To that end the US-CA border will remain Closed into 2021 if not longer. Again as more of the Old System is to be taken down there. The #’s on the telescreens are driving all of this. USA is the target.

Don’t fret over lack of opposition parties or even left-right. None of this makes sense until you get it: We are all under UN control. They are all on board.
A local business owner told me he knows that changes will keep going until 2030 .

#15 Ryan on 07.08.20 at 3:22 pm

All this and bungalows are selling for $1M in Ottawa. LOL. At some point, we all end up paying for this. What’s most disappointing is that I was raised that you should prepare for an emergency with 3 months savings. It seems though this government has taught people to simply hold off for 3 days. Imagine if we didn’t introduce CERB for 3 months, or half that time, how much it would have saved. You have to help people, sure, but you’re not even asking individuals to help themselves first. I’m an elder millennial, so I guess I don’t understand debt…….

#16 CJohnC on 07.08.20 at 3:24 pm

Well there go all the doctors and dentists. Not to mention 500,000 more people to collect UBI when it comes.

#17 FreeBird on 07.08.20 at 3:25 pm

“…labelled Canada Fed.”
———————
Can’t make this stuff up. Freudian slip? SO much I could say but would get me called crazy by some here. Hard day so just going to focus on the funny dog pic. Similar to my other half who’s not allowed in covered with dirt…even if sitting nice with a cute face ; )

#18 S on 07.08.20 at 3:28 pm

#3 Alex on 07.08.20 at 2:51 pm
I don’t get it… Why couldn’t they turn off the tap/reduce handouts? We’re just printing money for all now? But why?

If they’re borrowing it they ain’t printing it. Why? Turns out buying voters is expensive. The insult is they are buying them with public money.

#19 Do we have all the facts on 07.08.20 at 3:28 pm

Once more I must ask where are the Provincial premiers during all this talk about a Universal Basic Income Program financed by the Federal government? The PBO hinted that the cost of UBI would offset by savings in social assistance transfers to Provincial and Territorial governments. How is does this chatter not raise the possibility of Constitutional reform.

Our Prime Minister is acting like the leader of a Unitary State not the leader of a Federal government in a Confederation of governments with distinct areas of jurisdiction set out in a Constitution.

When is someone going to pull the reins in on the Federal government before they borrow us into the third world.

We are looking more like an oligarchy with every passing day!

#20 Overheardyou on 07.08.20 at 3:28 pm

Clearly the subsidization was overdone, we will ride the wake in the coming years, maybe decades.

#21 rockinror on 07.08.20 at 3:31 pm

Garth,
Lesson from south of the border is deficits do not matter. If fact, lowering taxes and CB monetization should take care of this mess. The CAD $ seems to love the spending spree, up strongly today.

#22 paul on 07.08.20 at 3:36 pm

#10 earthboundmisfit on 07.08.20 at 3:05 pm

Got my “Canada Fed” yesterday. Turned it over to
Hamilton Food Share within five minutes.
“““““““““““““““““““““““““““““““““““““““““““““““““
Hey,Its your cheque but give $300 to a political party and get $225.00
Tax credit give that to a charity and kill to birds with there stone.

#23 X on 07.08.20 at 3:38 pm

Given what is going on the the US, this is not going to right itself nearly as quickly as we all thought or hoped for. Our economy is going to have some tough sledding for the next 2 years, and higher taxes likely for decades.

#24 Friedman’s Ghost on 07.08.20 at 3:45 pm

Helicopter money?! Some helicopter…some money!

#25 Oracle of Ottawa on 07.08.20 at 3:47 pm

There’s certainly a lot of speculation in today’s blog. Are you sure your not running for the Conservatives this time around?

#26 Kilt on 07.08.20 at 3:53 pm

Local CERB update.

Working Holiday Visa recipient now receiving CERB. (In order to qualify for the Visa, you are supposed to have enough money for your stay).

Kilt.

#27 Brian Ripley on 07.08.20 at 3:55 pm

REAL ESTATE
My charts for Sales, Listings, Absorption Rates and Days on Market Required to Sell for Vancouver Calgary Edmonton Toronto Ottawa and Montreal are up:

http://www.chpc.biz/sales-listings.html
http://www.chpc.biz/mar-moi.html

A big rally in real estate is happening in the east (ie: Central Canada); yes in Vancouver and other “trophy” markets as well.

Real estate is not the Nasdaq.

The Government and Corporate CFOs did not factor in cash flow problems pre-pandemic; and they had a lot of early warning data.

The real estate industry and government and corporations do not like to share data.

FOMO households bidding up housing prices must think that they are immune to cash flow interruption while unemployment and retail/wholesale channels and supply chains are all heading into a hole that grows larger every month?

Unemployment does not support consumption GDP, our primary activity.

#28 A J on 07.08.20 at 3:56 pm

The government saved so many people’s finances with these handouts. And while I understand why it needed to be done, it’s bullsh*t for all of us busting our butts right now through this. My Husband yesterday had a severe panic attack. He’s working so much because some of his co-workers refuse to come back and would rather get paid not to work. I’m so pissed. He’s been working some days 18 hours a day. Hope everyone is enjoying their time in the sun getting paid to do nothing, while some of us bust our butts to keep this society a float. And how we will be re-paid? Paying taxes to support people working on their tans.

#29 NSNG on 07.08.20 at 4:00 pm

So what is this going to do to the C$? There is no way I’m keeping cash here. It’s just not worth the risk.

My two moves are to get completely out of what little debt I have and buy assets, preferably denominated in US$

#30 MDQ on 07.08.20 at 4:00 pm

The fact that the Feds are sending money to seniors like you Garth goes to show that there is no attempt at being prudent with money. Everyone gets it.

It would be interesting if they put more pressure on the 1%, I would seriously consider retiring or moving to the US. I did not create this mess, I am not going to pay for it.

Perhaps they should start collecting capital gain taxes for housing, its only fair.

#31 Doug t on 07.08.20 at 4:02 pm

WAR is always a great distraction for the masses when times are sh*t. China and U.S.A heading straight down the path – prepare

#32 Ace Goodheart on 07.08.20 at 4:04 pm

RE: #163 kingston boy on 07.08.20 at 12:09 pm

strange decision making considering all the schools teach the same curriculum. lower EAQO scores usually due to a more ‘diverse’ student base.

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

It’s the tutors.

Neighbourhoods with high EQAO scores, have family incomes at or over 200K on average.

When the kids have trouble in school, the family hires a tutor.

Lower income neighbourhoods cannot afford tutors. So the kids just fall behind.

#33 UmiouiuS on 07.08.20 at 4:06 pm

“By the way, Dorothy and I both received $300 direct-deposit payments into our joint chequing account on Wednesday morning, labelled ‘Canada Fed.’ ”
************************************
That’s strange, Garth. Really ?
Both your cheques had an ‘e’ between the F and the d ?

Cause my cheque had an apostrophe there.

#34 Faron on 07.08.20 at 4:14 pm

#176 Lee on 07.08.20 at 2:37 pm

“Is it my imagination or is COVID-19 exploding out of control in the USA?”

Yeppers. Deaths, a lagging indicator by 2-3 weeks, are starting to catch up to the spike in cases. Hospital utilization is growing rapidly. Up about 5% day over day (Imagine 5% daily growth in your portfolio for a tangible reference to what that level of growth means). Case numbers are up both because of testing that has grown at a linear rate and because of greater infection in the populace. Positive test rates as a proportion of total tests are increasing quickly.

With any luck, the amount of testing and early (in the course of the disease) testing will help keep people alive despite hospitalization. And a lot of the new positive tests are in the young, so deaths wont respond as sharply as was the case in March/April. Still, the US has a massive problem as do the markets by extension. If states have to broadly close down again I’d expect to see more June 11th type corrections.

#35 jal on 07.08.20 at 4:27 pm

“Letting them flounder would turn recession into something worse.”
—–
Right.
Consumers need the money to feed the demands of the business community.
If you wanted the save the businesses, the gov. could have given, directly, all the money to the businesses and none to the consumers.
However, all politicians would have lost their election.

#36 CalgaryCarGuy on 07.08.20 at 4:28 pm

Actually, for the first time in my life (I’m 62) I am hoping Trudeau and the Liberals do win the next election…and the one after that. They have created this trashed, debt-ridden bed of an economy. I want them to lie in it for a long time. I want them to wear it. I want the foolish Canadians who voted for this corrupt imbecile and his party to really realize what they have done. If the Conservatives win then they will take all the heat for trying to repair the damage. Nope, this is all on Trudeau and the Liberals. Let them roll around in the stench of it.

#37 Sail Away on 07.08.20 at 4:28 pm

#23 X on 07.08.20 at 3:38 pm

Given what is going on the the US, this is not going to right itself nearly as quickly as we all thought or hoped for.

————–

What, exactly, is it you think is going on in the US? If you’re talking about Covid… it’s mostly a minor background thing now according to my hundreds of relatives there.

If you haven’t noticed, their death rate is dropping, the media is focusing on other things and manufacturing is reviving.

Again, high transmissivity does not equal danger.

It equals economic damage. That’s the point. – Garth

#38 Dolce Vita on 07.08.20 at 4:30 pm

And they haven’t even included the Provincial debt.

Below is a web site that calculates National Gov Debt (pre-COVID, handy, click on a country in the map to get the skinny).

Threadbare Gov Italia not looking so bad anymore (national debt all Federal, Regions spend Federal money).

In a few more months, I’ll be also saying:

Threadbare Gov Canada…sigh.

+70% approval rating for a PM that just turned Canada into threadbare Gov Italia.

Hate to say this but WHAT a financially irresponsible country Canada has become with a people that don’t care about the future, MONEY, MONEY, MONEY give it to me NOW, NOW, NOW.

Sad. What a sham, greedy, unthinking, financially illiterate populace about the future of Canada AND that accepts this level of MEDIOCRITY from Gov Canada.

https://worldpopulationreview.com/country-rankings/debt-to-gdp-ratio-by-country

#39 Calgary retiree on 07.08.20 at 4:37 pm

We got our $300 each a day earlier – Tuesday. Probably because JT wants to bribe Albertans. He got my vote.

We immediately put a dp on a pair of dirt bikes. Why? Because assisting the struggling dirt bike sector seems to infuriate conservatives – and that is a good thing.

Speaking of conservatives. Our local basket case, Kenney, is now all in on the keystone pipeline. The Alberta tax payer will be on the hook for over 7 billion of stranded pipeline capital. Political risk assessment is obviously not part of Kenney’s strength, or he would have noticed that Biden promised to kill Keystone when elected.

#40 Survive or Thrive on 07.08.20 at 4:39 pm

Roll the dice and cross your fingers or focus on the life you want, where you want to be, who you want to have in your life and where you see your future unfold. Think of yourselves first. Do what is best for you.

#41 truefacts on 07.08.20 at 4:41 pm

Will Trudeau’s popularity end when the money stops flowing or the bill comes due and taxpayers have to pay? Churchill lost the 1945 election right after the defeat of the Nazis…

Also, Garth thinks Mckay is a shoe-in, but he’s been bumbling and fumbling his way through this leadership campaign. Take a look at the video where he is literally running away from a reporter asking him a question about a veto for Quebec for pipelines…(I know the media group asking the question might have a terrible reputation, but the video footage does not lie…

If he can’t get over 50% support on the first ballot, he will be in trouble as a lot of the conservative voters think he’s in the wrong party and should be a Liberal…who knows?

(Garth, is this message going to be blocked because you’re a Mckay fan or will it get posted)?

I’m nobody’s fan, but PM is the frontrunner and EOT is a socon. Facts are facts. BTW, I deleted the Rebel Media clip. Slimy bunch. – Garth

#42 Laurentian Elite on 07.08.20 at 4:49 pm

The lack of depth of quality candidates in the Conservative party is unfortunate. I will vote Liberal again as Peter MacKay has run a very poor leadership campaign and has surrounded himself with losers. His French is deplorable. There is no excuse for a man who has spent his whole life in federal politics to be that deficient in one of Canada’s official languages. That Jean Charest couldn’t find space in the contest proves that the Conservative Party of Canada is a lamentable derivative of the Reform Party – not the party of Brian Mulroney. Justin will be our PM for a long time, and that is not a good thing, but certainly better than the alternatives right now.

#43 Marco on 07.08.20 at 4:55 pm

#38
——————

Well, worst case scenario, you will lose your Canadian pension, because we (threadbare Canada) will not be able to pay you, but hey weather and food are still better in Italia, so enjoy.

#44 mike from mtl on 07.08.20 at 4:55 pm

Hey, now I’m feeling left out, were’s my $300?

Not that I want nor need it.

#45 jerry on 07.08.20 at 4:57 pm

The national debt can be amortized over perpetuity, Easy monthly payments for ever.

#46 Rico on 07.08.20 at 4:59 pm

Oh, the drama!
Are you aware that our debt to GDP was significantly higher in the 90’s than it is with the latest update?
The world is not ending.

Nobody said it was. But when the GDP ratio movd this level, Chretien went into emergency austerity mode. Did you forget that part? – Garth

#47 truefacts on 07.08.20 at 5:00 pm

Yes, Mckay is the frontrunner, but if he doesn’t top 50% on the first ballot, he could be in trouble, imo.

I think O’toole has tried to project the image of a socon, but his voting record says otherwise. He’s not a socon… He’s merely trying to appeal to voters who are right of Mckay and try to make a 3rd ballot breakthrough.

I gave the disclaimer of the rebel media and all that, but you have to admit the video footage doesn’t lie – even if my 4-yr-old recorded it – it’s a fact.
Anyhow, your blog, your rules….Cheers

#48 Colin on 07.08.20 at 5:02 pm

DELETED

#49 yorkville renter on 07.08.20 at 5:03 pm

I’m all for consumption taxes, which I think are the fairest taxes of all.

I’d rather a 20% HST and vastly reduced Income Tax versus tinkering a little on both.

#50 MF on 07.08.20 at 5:06 pm

16 CJohnC on 07.08.20 at 3:24 pm

Yeah and just where are they going to go?

The debt is a huge issue. Big negative. But have you looked at everyone else’s debt?

There is no where else to go.

MF

#51 Lee on 07.08.20 at 5:07 pm

Are you suggesting the UBI would be $17,000 per adult and $24,000 per couple? Are you guessing or have you heard something? You’re better off in Illinois collecting welfare/SNAP money. Anything short of $40,000 per person won’t work. But I will say, he’s bought himself an election victory. He’s smarter than I thought.

#52 YEG.CPA on 07.08.20 at 5:08 pm

Long time lurker chiming in after some weeks of catch-up.
Gotta say, the trolls on the blog have really been multiplying and stepping up during the past few months. If there isn’t any real discussion happening we may as well discuss that.

First,
I gotta give some respect to Sail Away, easily the biggest dick – but hes consistent and he does make some decent points often.

Turner Nation is probably too far off his meds to ever really make a comeback now. Its more sad than entertaining to watch his descent into madness. I miss Smoking Mans nonsense more.

That cottage guy is lame. He’s annoying but you can tell he tries too hard and thus is a poor troll. As they say – Great bait mate. Nobodies biting.

In terms of comedy though you guys just can’t compete with MAPLE LEAF INCOMPETENCE. He doesn’t seem like hes posting often anymore but he almost always gets a laugh. If you have some of your zingers saved I’d love to see a compilation.

#53 Comrade on 07.08.20 at 5:09 pm

#38 Dolce Vita on 07.08.20 at 4:30 pm

Am I reading this correctly, but it appears that all developed countries have higher debt/GDP ratio (most over 100%), than non developed.

#54 Eco Capitalist on 07.08.20 at 5:11 pm

I have no objections to an increase in the GST/HST. Consume more, pay more. Consume less, pay less. Seems logical. A capital gains tax on housing might (MIGHT) make people think of it more as a place to live and less as a place to reno and flip.

#55 Howard on 07.08.20 at 5:16 pm

Why the hell would ANY successful, talented young person stay in Canada at this rate? What could they possibly get out of it aside from brain rot?

If you’re under 35, start exploring your options. Past 35 it gets far more difficult to escape.

#56 John on 07.08.20 at 5:24 pm

Real estate is hot and 75% cap gains tax on investments is coming. Best to put your money into a principle res.

The inclusion rate is not the tax rate. – Garth

#57 Smartalox on 07.08.20 at 5:25 pm

“We Need an Opposition”

Never have truer words been spoken. We sure don’t have anything that resembles that now. And that’s not to advocated for pointless politicizing and petty obstructions during a time of global crisis. Obviously that wouldn’t help.

But a genuine, LOYAL opposition would at least push to curtail some of this disastrous spending, starting by pushing to turn OFF the money tap in jurisdictions where infection levels are low to negligible.

Maybe advocating for post-pandemic plans with the authority of a party that has actually governed and, with the assumption that at some time in the next 50+ years before the pandemic debts are settled, the party currently in opposition might actually be called upon to form a government.

But no, nothing. Not a word. Not even an meaningful debate. We all knew that Andrew Scheer was lame even before he became a ‘lame duck’ leader, but the party behaves now like a lightweight upstart catering to fringe interests, devoid of any of the gravitas that built this country.

The heartwood of Conservative politics in Canada has been hollowed out like a rotten log, and Canada is worse off for it, not better.

I am a disgruntled Liberal voter, but voting for the current Conservative party, is a non-starter for me because of the social-conservative bent. And I don’t care much for either of the weak-tea choices in the current leadership contest.

Time for a new alternative.

#58 Howard on 07.08.20 at 5:25 pm

#4 AGuyInVancouver on 07.08.20 at 2:52 pm
Of course Mackay has a path to vistory. You may not like it, but it sounds like this: “Millions of Canadians unemployed and now you propose letting in 500,000 new immigrants this year Mr. Trudeau?!”

———————————————————-

It’s funny how putting Canadian citizens first should be the obvious guiding principle of any Canadian politician. Yet in today’s clown world, it’s become controversial at best and bordering on “fascist” at worst (or as all the illiterate leftists frequently spell it, “facist”).

#59 Faron on 07.08.20 at 5:28 pm

#37 Sail Away on 07.08.20 at 4:28 pm

“If you haven’t noticed, their death rate is dropping”

Wanna wager a share of Tesla on that?

Also, did a brief tour through the archives to see what Garth and commenters were saying at end of Jan. Those Flu comparisons are continuing to look dumber and dumber. y’all like statues and history, I suggest you go back and have a look.

To your credit Sail Away, you were promoting protective equip stock and surely made a killing. Hope you sold near the peak and re bought.

#60 Linda on 07.08.20 at 5:28 pm

#39 ‘Calgary’ – Mr. Kenney thinks Mr. Biden ‘can be persuaded’ that Keystone is good for America as well as Alberta. Or just ‘good’. Good luck with that……

Thought on UBI. With immigration on hold may not be an issue – it IS on hold, right? Closed borders & all that? Anyway, what will be the UBI rules regarding new immigrants? If they are between the ages of 18-64, will they get it upon landing on Canadian soil? Since the intent is that they will become Canadians? Just wondering how that would play out…..

#61 OK, Doomer on 07.08.20 at 5:28 pm

If Biden wins, look for a socialist totalitarian state to develop in the US.

I always thought that the alt-right was nuts down there and that they would turn the US into a police state.

I stand corrected. The alt-left is far more vicious, cunning and organized.

Biden is centrist. Not a crazy like AOC. – Garth

#62 Doug Peters on 07.08.20 at 5:30 pm

There is another tax revenue source that is huge and nobody in the media and government likes to talk about it. A government worker’s pensions tax and a government worker’s pension values tax.

Also, converting to direct contribution pension plan and or eliminating government worker’s pension plans. Nobody or almost very little in Canada besides government workers have a bronze, silver or gold plated government pension plan. This is a huge problem that is as big or bigger than government debts.

#63 Billy Buoy on 07.08.20 at 5:33 pm

Gee…I called a wealth tax 5 years ago and all I was told was “you are crazy..this will NEVER happen.”

I called a limit on TFSA then as well…. “Never, ever will that happen. They can’t do that.”

It was all so clear to see…..aging population, less kiddies to pay into the support programs of the ponzi.

7 years ago I “left” the ponzi as the costs to produce were no longer worth the few benefits produced…now I live a nice simple life under the radar, taking all the freebies the gov’t will provide, pay zero taxes and live a wonderful stress free life….Play the system, don’t fight the system…the big boys have it ALL set up in their favour.

Hide your money if you can people, time to add more under the mattress and placed in essential assets that can be moved without the tax gods getting their pound of flesh.

I never minded paying taxes in the past to assist the truly down trodden, mental/physically handicapped but I will NEVER EVER pay to support huge government pension plans, nor those who made over $70K yearly and blew it all on drink, drugs and fun….OVER MY COLD DEAD BODY. NEVER EVER.

Be rich or poor who avoid taxes or can’t pay….if you are a middle class, thanks for your support! I’m enjoying it!!!

#64 VicPaul on 07.08.20 at 5:35 pm

#24 Friedman’s Ghost on 07.08.20 at 3:45 pm
Helicopter money?! Some helicopter…some money!

*********

Milton the Libertarian would be rollin’ in his…eesh, I don’t even like that turn of phrase…but he would.

M56BC

#65 Smartalox on 07.08.20 at 5:36 pm

Also, another thought regarding Canada’s high level of spending to see the country through Covid-19. Not since WW2 have we accumulated this much debt?

One thing to consider about that: after WW2, Britain was completely broke. It’s no coincidence that in the 5 years after WW2, the British empire ‘granted’ independence to all its far flung colonies, including India (’47), Pakistan (’47), Israel (’48) and Newfoundland and Labrador (’49). They were BROKE. And they weren’t particularly flush when the war started, either.

Life in Britain remained strained and austere for decades after the war, with public spending curtailed well into the 90s and past 2000.

Is that what we have to look forward to, Canada? Fifty years of decrepit public buildings and high taxes?

#66 Rico on 07.08.20 at 5:37 pm

“Nobody said it was. But when the GDP ratio movd this level, Chretien went into emergency austerity mode. Did you forget that part? – Garth”

You said it was, as did most of the commenters.
Are you saying that the right move now is to move to austerity?
Canada would be in much worse shape if the 30% unemployed were getting foreclosed on, cleaning out the food banks, and turning to prostitution to pay the bills.

#67 Howard on 07.08.20 at 5:37 pm

#26 Kilt on 07.08.20 at 3:53 pm
Local CERB update.

Working Holiday Visa recipient now receiving CERB. (In order to qualify for the Visa, you are supposed to have enough money for your stay).

Kilt.

————————————————-

Legitimately receiving CERB? Or lied to receive it? I don’t really know what to say anymore.

I actually used the WHV program years ago to get the hell OUT of Canada. It’s a great stepping stone to permanent residency in many European countries, Australia, or New Zealand (no such program exists with the US).

#68 BillyBob on 07.08.20 at 5:37 pm

It pains me to see Canada committing financial suicide like this. Of course government spending was necessary, and some overshoot was inevitable. Now it’s just going into the realm of total irresponsibility and pandering. Disgusting and sad.

“And no other country in the world is facing a reversal of fiscal fortunes like ours – a 1,000% deficit increase over the forecast of a few months ago.”

Garth, where could I find the source data for a comparison to other countries? The Canadian deficit increase isn’t hard to track over time – it was just April when they were “only” projecting a “mere” 252 billion deficit – but I can’t find a way to do a broad international comparison.

Not that I doubt the quoted statement whatsoever, just discussing with my BIL still in Canada and would like to be able to back it up.

#69 Bytor the Snow Dog on 07.08.20 at 5:37 pm

#52 YEG.CPA on 07.08.20 at 5:08 pm cockily snorts:

“Long time lurker chiming in after some weeks of catch-up.
Gotta say, the trolls on the blog have really been multiplying and stepping up during the past few months. If there isn’t any real discussion happening we may as well discuss that.

First,
I gotta give some respect to Sail Away, easily the biggest dick – but hes consistent and he does make some decent points often.

Turner Nation is probably too far off his meds to ever really make a comeback now. Its more sad than entertaining to watch his descent into madness. I miss Smoking Mans nonsense more.

That cottage guy is lame. He’s annoying but you can tell he tries too hard and thus is a poor troll. As they say – Great bait mate. Nobodies biting.

In terms of comedy though you guys just can’t compete with MAPLE LEAF INCOMPETENCE. He doesn’t seem like hes posting often anymore but he almost always gets a laugh. If you have some of your zingers saved I’d love to see a compilation.”
—————————————————————

OMG man you were missed!

No, not really.

#70 Colin on 07.08.20 at 5:41 pm

It looks like Trudeau and his team of progressive spendthrifts are waving around a “smorgasbord“ of looming tax hikes and new tax concepts. No surprise that Trudeau and his inept team are imposing the massively negative financial consequences of their failed policies on the average Canadian tax payer.

None of this should come as a shock .. there is no such thing as a “free lunch” nor a politician handing out “printed money” without strings attached.

#71 joblo on 07.08.20 at 5:41 pm

#36 CalgaryCarGuy on 07.08.20 at 4:28 pm

I’m with ya!
Just need to find a boltspot to watch from afar :o)

#72 NoOneOfConsequence on 07.08.20 at 5:42 pm

hmmm…not a gold humper in sight! What’s up with that? They should be thick as thieves…are you surreptitiously deleting comments Garth?

Here’s the way out;
1. Cut small business taxes & reduce regulations
2. Announce a tapering plan for all CERB support.
3. Temporarily increase consumption tax to help

Thats probably enough for starters anyways.

#73 Stone on 07.08.20 at 5:49 pm

So the next stop is the UBI – universal basic income. After Finance Minister Bill Morneau’s little talk on Wednesday, there’s little doubt this is the agenda.

———

I listened to Morneau’s speech. It lacked substance however nowhere did he make a comment about UBI or that it’s the agenda. Care to provide a link? Otherwise, it sounds like hyperbole. I prefer facts.

Thanks.

#74 crowdedelevatorfartz on 07.08.20 at 5:49 pm

My god Trudeau is a fricking nightmare to this country.

Our credit rating has only one way to go and it isnt up…
The Canadian dollar to $0.50 by Christmas 2021….?
And with the interest rates at near zero the govt has no way to lower rates to “stimulate” an overtaxed economy.
$50 billion handed out here, 60 billion handed out over there.
WHY is this person ALLOWED to hand out OUR money with ZERO DEBATE?
Wont make a damn bit of difference to a world wide economic slowdown.
Screwed with our own tax money.
Idiocracy.
Lots of luck to all those UBI cheering layabouts that will squeal like pigs at the trough when they realize EVERYTHING including holidays to the US will cost more.

#75 Billy Buoy on 07.08.20 at 5:51 pm

Keep sending the free cash Justin.

The middle class will pay for it all!

Thanks for a relaxed summer of golf, reading, time at the beach, cocktails on the patio in the evening…

Don’t worry folks, the debt will never be paid back here or the USA…enjoy it until it stops.

#76 Stone on 07.08.20 at 5:53 pm

#49 yorkville renter on 07.08.20 at 5:03 pm
I’m all for consumption taxes, which I think are the fairest taxes of all.

I’d rather a 20% HST and vastly reduced Income Tax versus tinkering a little on both.

———

Agreed.

#77 margaret on 07.08.20 at 5:54 pm

You know what bothers me? The very little concern shown for small business owners and their non-essentials that have to take one for the team. I am very concerned for the hospital staff on the frontlines, and the patients in hospital. But next in line, six ft behind, is the business owner, many who lease their shop/restaurant/bar…and in the States, are being, and could be told here in Canada, they will have to shut down again. The few people willing to take the risks and hard hours to open their own business, are now expected to take the hit, encouraged by helpful ads and emails, to save the country. Shamed if they have any thought to save the family business.. I live in a tourist town on the wild west coast of Vancouver Island. First two months lost 187,000.00 in cash flow cause cancelled reservations, and lost all the staff to Cerb. Now allowed 65% occupancy, so re-wrote our policy and procedures, costs in wages uppa uppa…have to, new hepa filter vacuums..laundry is huge…people afraid or wont work more than part time..Havent paid myself since February…and I’m one of the lucky ones, own the bldng. I could borrow money. Someone ask a fellow in the Co_op line “howz his year..his fishing and whale watching charters are all cancelled…social distance limits the walk ins…he has couple of months to make 15% of his sales…and then there’s winter. Couple of restaurants here on my block, actually 3, will be out of business by fall. That’s my street…Did the 40,000.00 loan from the govt help? yeah…for 6 wks. and we have to pay 3/4 of that back. So enough with the cheerful work from home ads..I’m happy they dont have to commute and will maybe get a better work arrangement in the long run. But its the boots on the ground, the Army, as it were, that once again take the fall. Somethings never change.

#78 crowdedelevatorfartz on 07.08.20 at 5:59 pm

@#10 Hamiltonmisfit
“Got my “Canada Fed” yesterday. Turned it over to
Hamilton Food Share within five minutes.”

++++

Well done.
Anyone that doesnt need the blatant “cash for votes” should donate it all to a good cause or baring that………the Conservative re-election campaign.

These Liberal financial idiots are going to ruin this country’s finances for the next 50 years.

Think you cant find a doctor now?
Just wait.
F-ing idiots.

#79 YEG.CPA on 07.08.20 at 6:00 pm

#69 Bytor the Snow Dog

Someone needs to keep score, otherwise some new poor soul who comes across this blog might think all you crazies are actually being serious.

Don’t be upset if you didn’t make the cut this time.
Keep up the good work, and you might makes next months edition!

#80 Drake Schwartz on 07.08.20 at 6:02 pm

A 50 cents Canadian dollar to Us dollar is not low enough. We are going into a Venezuela style money devaluation. Remember, Venezuela was the richest country in South America and in less than 20 years it was a complete economic and political basket case.

Those on this forum and others bragging of all the free stuff, money your getting, you are destroying your own country and future and you will pay for it too. I guess you want to eat zoo animals like they did in Zimbabwe back in 2002 to 2003. This is what you will get Liberals, NDP, Green Party, socialists, marxists, communists, UN lovers.

#81 REVERSE MORTGAGES AND UBI WILL SAVE CANADA! on 07.08.20 at 6:06 pm

No worries, we’ve got a plan folks!

This will all be swell.

Get an income stream from your house, and add CERB and then UBI to that.

Order all the delivery pizza you can dream of.

No worries.

#82 Millennial 1%er on 07.08.20 at 6:06 pm

@howard

Only reason I’m still in Canada is because my wife is still in school and I somehow figured out a way to work for an American company remotely out of here. Don’t worry, I know all about TN status. Google here I come.

#83 Paul on 07.08.20 at 6:20 pm

Ottawa to post $343B deficit as spending hits levels not seen since Second World War
Federal debtload will hit $1.2 trillion in 2020-21, the government projects in its fiscal ‘snapshot’
—————————-
10 times the projected deficit prior to Covid 19

#84 Sail Away on 07.08.20 at 6:20 pm

#59 Faron on 07.08.20 at 5:28 pm
#37 Sail Away on 07.08.20 at 4:28 pm

“If you haven’t noticed, their death rate is dropping”

—————

Wanna wager a share of Tesla on that?

To your credit Sail Away, you were promoting protective equip stock and surely made a killing. Hope you sold near the peak and re bought.

—————

Well, no, wagering wouldn’t be fair since it’s an indisputable fact that US deaths per day are currently around 1/3 of where they were in March. Stats, you know:

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

Also, yes, APT did fantastically well. I sold 50% near the top and closed the position about 1/2 that. Posted here as I did it but you might’ve missed. Could’ve actually gained more by holding the remainder longer as it turned out.

By the way, do you remember ridiculing my Tesla purchase around 450 in March? Strange that it’s $1400 today, eh?

Making uninformed wagers and predictions is making you look dumb. I’m up $830k since March on the two stocks above alone. You could’ve just jumped on the train since I posted it all here in real time. Consider this a learning experience. Try not to be too smart for your own good.

#85 Steven Rowlandson on 07.08.20 at 6:22 pm

My strategy of boycotting CERB to limit the deficit is not working. Even the police and social workers are recommending that I sign up.
https://www.bnnbloomberg.ca/federal-deficit-swells-to-to-343b-as-massive-virus-aid-costs-mount-1.1462439
Federal deficit swells to to $343B as massive virus aid costs mount

This fiscal insanity must end!

#86 Yukon Elvis on 07.08.20 at 6:23 pm

Biden is centrist. Not a crazy like AOC. – Garth
……………………
Yah, a real centrist.

June 4, 2019 10:00 a.m. GMT+00:00
Joe Biden is embracing the framework of the Green New Deal in his bid for the White House.

https://www.washingtonpost.com/climate-environment/2019/06/04/joe-biden-embraces-green-new-deal-he-releases-climate-plan/

Whether dinos like you recognize it or not, climate change activism is now centrist. – Garth

#87 45north on 07.08.20 at 6:23 pm

Covid’s cost has been stunning, no doubt. The pandemic has also increased the scope and reach of government in a way that was unimaginable a year or two ago. Now with eight million people on the federal dole, there’s the expectation this level of support will continue. Face it – most Canadians like getting CERB and kiddie support deposits in their bank accounts. So the next stop is the UBI – universal basic income. After Finance Minister Bill Morneau’s little talk on Wednesday, there’s little doubt this is the agenda.

My grand daughter’s friend was laid off. She likes getting CERB which she uses to buy Aritzia stockings. The stockings are not going to buy anybody’s vote.

#88 Howard on 07.08.20 at 6:24 pm

DELETED

#89 n1tro on 07.08.20 at 6:27 pm

How does one qualify for the max ubi? I’m ready to get a more stupider, lower paying job to max this out. Working hard is obviously for chumps.

#90 kappa on 07.08.20 at 6:31 pm

There is no such thing as free lunch. Sooner or later the gentle people of Canada will realize that printing money can only get you so far. It can only delay the inevitable. What you gain today from printing money, you will loose tomorrow by means of price increases (inflation) and Canadian dollar devaluation. Yeah, you may get an extra 2k a month via printing press, but everything around you will automatically be priced to absorb your 2k increase. What government did so far, was probably the only choice and I honestly can’t think of another solution. However, they need to come up with a plan of getting people back to work. From October on, people should be paid to go to work and not paid to stay at home. Enough is enough.

#91 Larry Russels on 07.08.20 at 6:32 pm

Garth, I think the Canadian Federal Deficit will be $2 trillion by 2020-2021 or by 2021-2022. The Liberals are lying and with 1.09% 30 year Canada bond yields they can borrow to the cows come home for now.

Just 10 years ago, the same 30 year bond yields were 3.81% and 20 years ago they were 5.71%. Even if we go back to 20 years ago, just the interest on $2 trillion national debt would be close to $120 billion a year. Remember, just back 2018-2019 fiscal budget year the Liberals Trudeau, Morneau Canadian annual budget was $200 billion a year.

The poster about Venezuela and Zimbabwe, 4 more years of this stuff and Canada is toast.

#92 Hawk on 07.08.20 at 6:32 pm

@ 6 Cristian

===========

Am curious how that works? Does it mean that if you earn income in portugal you are granted a 10 year exemption on tax?

Or does it simply mean that there is no tax on foreign earned income. In that case, the benefit is only the beauty and the better weather, but nothing financial.

#93 OK, Doomer on 07.08.20 at 6:35 pm

#61 OK, Doomer on 07.08.20 at 5:28 pm
If Biden wins, look for a socialist totalitarian state to develop in the US.

I always thought that the alt-right was nuts down there and that they would turn the US into a police state.

I stand corrected. The alt-left is far more vicious, cunning and organized.

Biden is centrist. Not a crazy like AOC. – Garth
+++++++++++++++++++++++++

Biden is Neville Chamberlain on a rocking horse. He will be physically and mentally unable or unwilling to stand up to the alt-left.

If you like your riots you can keep your riots.

#94 Faron on 07.08.20 at 6:36 pm

#74 crowdedelevatorfartz on 07.08.20 at 5:49 pm

The Canadian dollar to $0.50 by Christmas 2021….?

—-

Put your money where your mouth is and buy some Yen. Or some USD. Oh, wait, those countries have even higher debt to GDP ratios than Canada… Nevermind. Maybe some EUR then? Regardless, you have the power to buy foreign assets and profit off of this if you think you are right.

I’d wager that the real reason Canada’s credit rating has dropped is that the economy here has an over-reliance on oil and real estate (that are both vulnerable as heck right now in case you haven’t noticed) which makes our national debt uglier than the US’s. But if it were actually thaaat ugly, yields would have jumped when the downgrade hit. They didn’t.

Your response to the debt growth is conservative reflex, I get that. But, until you or anyone else can show that not stimulating the global economy would have worked out just dandy or even just slightly better than the current economic position and that holding a crap-ton of national debt at near 0% interest to do so was a bad choice, I think you need to defer to the educated experts in our and in every other major economy’s government.

Yes, the debt sucks and we will be taxed more for it. But we are also in a (hopefully) once in a lifetime pandemic that just seems to be getting started. How else was Canada to respond? Make a case for the counterfactual. Especially one that includes your apparent understanding that the virus is dangerous and that some measures needed to be taken to limit its spread. Start with a do nothing base-case where millions of people in Canada suddenly couldn’t spend dollars.

–Rapid and permanent small business collapse much worse than what we are seeing now.
–Zero fertile grounds for any kind of real recovery for many decades.
–Massive loss of tax base, oops, now what?
–Not to mention the human suffering this would bring about. And that might lead to:
–People avoiding lockdowns out of desperation then Canada sees mass second wave of virus…
–Some people die and many others avoid the few remaining businesses (that would likely all be US corps at this point because they stimulated and eased) and the spiral deepens.

There’s a time and place for fiscal conservatism but in the midst of a global pandemic and economic crisis is certainly not it.

That’s three blathers from me today. I’m out.

#95 ain't life rand on 07.08.20 at 6:41 pm

@#79 YEG.CPA on 07.08.20 at 6:00 pm
#69 Bytor the Snow Dog

Someone needs to keep score, otherwise some new poor soul who comes across this blog might think all you crazies are actually being serious.

Don’t be upset if you didn’t make the cut this time.
Keep up the good work, and you might makes next months edition!

LOL, zing.

#96 Blue Angel on 07.08.20 at 6:42 pm

UBI=Deluxe welfare

#97 1-800-DOCTORB on 07.08.20 at 6:46 pm

The Post-WWII era has been defined by leftist governments squandering their nations wealth.

I’d like to think it won’t happen here…but a currency collapse precipitated by all this fiscal imprudence could cause a very painful shock to this country. We don’t have the collective cajones for voluntary austerity, so buckle up.

#98 crowdedelevatorfartz on 07.08.20 at 6:49 pm

So Universal Basic Income means that all the drug addicts in Canada will be getting $17,000 per year?
Parrrrrr-taaaaaay.
Mardis Gras ….all…..year…..long.
I hope the Liberals are going to stock up on body bags for all the overdoses that will be directly attributed to all that “free” cash….
I guess we can look on the bright side.

We can defund 50% of the police forces on the Left Coast since the majority of the crime is done by a small percentage of drug addicts that currently enjoy the revolving door known as the Canadian judicial system.
They wont be around for much longer .

#99 Trojan House on 07.08.20 at 6:50 pm

But we saved hundreds of thousands, maybe millions, of grandparents right?

#100 baloney Sandwitch on 07.08.20 at 6:52 pm

Small business is hanging by their fingernails. My wife just reopened her beauty salon. I give it <50% she will survive to Christmas. She employs 5 people – all on cerb – no one want to come back.
Thank god, I made some decent money when times were good. Now between taxes and covid – I feel sorry for the younger folks. Keep up the good work, Garth. Your corner of the internet is blessed.

#101 crowdedelevatorfartz on 07.08.20 at 7:07 pm

@#85 Steve Rowlandson
“Federal deficit swells to to $343B as massive virus aid costs mount
This fiscal insanity must end!”

++++
Unfortunately, until the Prime Minister actually has to pay his own bills without assistance from daddy’s trust fund or his wife’s rich family…..

He…. doesnt…. care.
Bread and circuses aka UBI and legal pot.

Where’s that comet Apocalypto promised us?

#102 Nonplused on 07.08.20 at 7:08 pm

Once again we see on display (with CERB and UBI) that people think that we can somehow afford things collectively through “the government” that we as a group of individuals cannot. It just doesn’t make any sense. Any money the government spends either has to be raised through taxes or borrowed on our behalf. The government doesn’t have any money of its own.

“Taxing the rich” will prove to be of little help, as they don’t have very much money, they have productive assets. In order to tax the assets the rich will have to liquidate. But to whom? The only real way to get after it is to raise income taxes. And that will simply be passed on to consumers to the extent it can. The rich have to get the money from somewhere.

This covid thing has opened Pandora’s box. CERB is only just the first monster to escape. If things keep going the way they are by this time next year we will be looking at today as “the good old days”.

#103 Terry on 07.08.20 at 7:12 pm

It’s all over Canada. This country has failed. This country is broke. Do not pass go. Do not collect $200. Get your back-up plans ready everybody because there will much future economic destruction across all the lands coming up.

#104 Reality is stark on 07.08.20 at 7:24 pm

Surprise surprise. The finance minister says taxes won’t be a good thing.
But you can take it to the bank.
The taxes are coming and they are going to hurt.
You’ll be paying more for everything.
And your employer will be paying you less and you will work harder for it.
Be careful with that big fat mortgage. You have to actually pay for it eventually.
Mortgage rates can’t go much lower.
Canadians love the taxman because he is like them, he always wants more for no effort.

#105 Blue Angel on 07.08.20 at 7:25 pm

garth, take intensive french lessons and go for PM.  all blog dogs will vote for you and have their entourage, family, friends, work colleagues, neighbors vote for you … save us from T2!

#106 crowdedelevatorfartz on 07.08.20 at 7:28 pm

@#94 Faron
“Rapid and permanent small business collapse much worse than what we are seeing now.
( we’re only 4 months in. The business collapse hasnt even started ramping up yet)
–Zero fertile grounds for any kind of real recovery for many decades.
( The govt has “blown the bank” too early. No cash for a rainy day ie Summer/Fall 2021)
–Massive loss of tax base, oops, now what?
( they have delayed the tax loss. Unemployment will continue to get worse. Govt has no cash in another year. Credit Rating circling the bowl…)
–Not to mention the human suffering this would bring about.
( Suffering delayed. Only 4 months in. 2 years from now……who knows.)
And that might lead to:
–People avoiding lockdowns out of desperation then Canada sees mass second wave of virus…
( you mean like the kidiots that are partying in parks, bars and beaches now on CERB money?)
–Some people die and many others avoid the few remaining businesses (that would likely all be US corps at this point because they stimulated and eased) and the spiral deepens.
( Emotional histronics, people will still go to Wal Mart, Covid zombie apocalypse or not, to fight tooth and claw for the last roll of Toilet Paper….because they are lizard brained monkeys)

#107 Faron on 07.08.20 at 7:29 pm

Sorry Garth!

#84 Sail Away on 07.08.20 at 6:20 pm
#59 Faron on 07.08.20 at 5:28 pm
#37 Sail Away on 07.08.20 at 4:28 pm

“By the way, do you remember ridiculing my Tesla purchase around 450 in March?”

No, because that was in April. I do love how small your ego is by the way. It probably almost fits inside Vancouver city limits. So easy to stroke. So supple. You really should show it off more.

Thanks for reminding me though. You also gloated about IEP, BAC and GEO:

” #145 Sail away on 04.29.20 at 6:56 pm
Ok, accurate report of one-day returns from yesterday’s purchases as noted on this blog:

IEP: +1.6%
GEO: +8%
BAC: +5%
TSLA +14%

Some will consider this boasting. Others will accept this is a finance blog and possibly use the info to their advantage.”

IEP was worth $51 now is worth $48 -6%
GEO was worth $13.32 now is worth $11.69 -10% (eyeballing the pcts here)
BAC was worth $24.78 now is worth $23.10 -5%

Granted, you made some divvies in the mean time. Good for you. I know you like participation prizes. Funny thing is that I made a watch list in my trading platform called dbag_portfolio knowing it would come in handy.

For transparency, I counter-gloated:

XBM +17% since the 29th
ICLN +24% ditto
VDE -6$% ditto (that’s what I get for being an energy holding greeny!)
FIE up 1% but I continued to buy and sold at the June 11 top for about +15%. Since have rebought and earn 9% dividends all the while.

And those are ETFs! Vastly lower risk than four stakes in individual equities. Thanks for the advice though :-)

Hope you sell your TSLA soon! Did you see that upward inflection over the past week? Yeah, that’s a bad technical sign. Ha haha.

Oh, you are wrong about the death rate BTW. “is” means presently, not March. It’s up over past couple days US wide and much more so in Repub states. Sorry!

“Try not to be too smart for your own good.”

Okay

#108 crowdedelevatorfartz on 07.08.20 at 7:29 pm

Things are getting bad.
Garth.
Could you post your squirrel recipe again?

#109 Lead Paint on 07.08.20 at 7:36 pm

All you blog dogs that read but don’t comment, chime in from time to time to thank Garth. He doesn’t accept payment but is human, as boring as it may be for others to scroll past, let him feel the love for the tireless free advice, wit and wisdom.

#110 Dawn Ripley on 07.08.20 at 7:38 pm

I think most people here are missing Trudeau’s, Morneau’s tax scheme they are already using to some extent. The federal carbon tax. It will be used even more with little to no new getting it back on your income taxes like the GST HST credit plus the HST, GST hike coming.

An GST, HST hike of 3% to 4% points would bring in $35 to $45 billion more per year plus the carbon taxes it can easily bring in a total of $50-$52 billion per year. In 6 years the $343 billion deficit is covered.

#111 TurnerNation on 07.08.20 at 7:39 pm

Where are the customer’s yachts? I’ll tell you.
I’ve seen two boat dealers advertising 10% down payment and 240 month amortization?
Not a typo. That’s what 20 years .

#112 B on 07.08.20 at 7:40 pm

I’m just a regular guy who saves his money and could support my family for a couple years if need be. That being said, I’m still completely overwhelmed with worry these days. Wishing I could see a path out of this current public health/finance situation that leaves something of value for my children. Not sure what to do, so here I am posting on a financial blog I guess. All the best to everybody who comes here for a daily dose of free thought.

#113 Danny Partridge on 07.08.20 at 7:42 pm

Probably too late for me and my better half to exit, but I have made damn sure my two children have the option–and the know how–to leave this country if desired.

#114 Mark on 07.08.20 at 7:44 pm

No fair I only got 70 bucks in my account.
Earn 50 k.
Hmmm.

#115 unbalanced on 07.08.20 at 7:47 pm

I like Faron. I don’t like the guy from the Puzzle Factory.

#116 WTF on 07.08.20 at 7:50 pm

#62 Doug Peters “Also, converting to direct contribution pension plan and or eliminating government worker’s pension plans. Nobody or almost very little in Canada besides government workers have a bronze, silver or gold plated government pension plan. This is a huge problem that is as big or bigger than government debts.”

Whoa there cowboy! You just triggered 250,000+ Hard working, well dressed, eager, helpful, engaged, public servants. Oh Wait, they are still hiding at home in their PJ’s.

Never Mind.

#117 saskatoon on 07.08.20 at 7:53 pm

garth,

i thought as a fellow insider, you would know:

just as banks no longer require reserves, governments no longer require taxation.

#118 Yuus bin Haad on 07.08.20 at 8:13 pm

Actually, I asked Bill about avoiding the taxman and he suggested I get in touch with his family office. “They know ALL the tricks.”

#119 Drill Baby Drill on 07.08.20 at 8:14 pm

I am beyond disgusted by today’s “snapshot” on the Liberal Covid spending. Anyone with any sense at all can see this is not going to end well. Please Canadians wake up. By the way I got my $300 fed bucks and I am giving it to our local food bank. There is no shame anymore with our current political leadership. We need a new Leader now.

#120 Repurchase Disagreement on 07.08.20 at 8:16 pm

Whether dinos like you recognize it or not, climate change activism is now centrist. – Garth

It’s also misguided and completely out of proportion with the impact of CO2 – which is all but certainly minimal, which honest scientists know.

https://quillette.com/2020/06/30/on-behalf-of-environmentalists-i-apologize-for-the-climate-scare/

#121 Faron on 07.08.20 at 8:23 pm

#106 crowdedelevatorfartz on 07.08.20 at 7:28 pm
@#94 Faron

Fair enough and points taken. I’m not a Trudeau fan, but I accept what has been done.

Anyhow, I’m regretting my stridence today. And now two posts in the hole on my blather quota. Sheesh. Burrito time. Garth, thanks for wading through my posts today and always.

#122 crowdedelevatorfartz on 07.08.20 at 8:25 pm

@#115 Unbalanced
“I like Faron. I don’t like the guy from the Puzzle Factory.”

++++

Would you like some chap stick for that bupkiss?

#123 Work and Tumble on 07.08.20 at 8:34 pm

#36 CalgaryCarGuy

I was thinking the same thing.

#124 NewNormal on 07.08.20 at 8:35 pm

Think the capital gains exemption on primary residences will be in the cross hairs? Single biggest store of wealth in the country.

#125 Colin on 07.08.20 at 8:35 pm

DELETED

#126 fused on 07.08.20 at 8:35 pm

#107 Faron
Food for thought!
http://www.reddit.com/r/wallstreetbets/comments/hnk0r9/35k_125m_in_4_months/
http://www.reddit.com/r/wallstreetbets/comments/hnhbmy/this_man_deserves_to_be_put_on_a_pedestal_here/

#127 Tim123 on 07.08.20 at 8:37 pm

On top of all that bad news, I suspect property taxes will be going up in addition to provincial taxes, federal taxes and the HST. Against that backdrop most people think real estate is going to keep rising. I suspect there may be a lot of shock when they find out real estate was not as safe as they thought.
The top 40% of all people will be paying up big time. This is also the same number of people who actually pay taxes. The 1% ers are too few to pay for everything. It is difficult to target the rich because they are the most mobile and are highly sought after by many countries because they can move their companies and businesses to a different location quite easily.

#128 Ponzius Pilatus on 07.08.20 at 8:42 pm

#55 Howard on 07.08.20 at 5:16 pm
Why the hell would ANY successful, talented young person stay in Canada at this rate? What could they possibly get out of it aside from brain rot?

If you’re under 35, start exploring your options. Past 35 it gets far more difficult to escape.
————–
Please, tell us where they should go.
Thanks in advance.

#129 crossbordershopper on 07.08.20 at 8:47 pm

simply pack your bags and go to Florida, Yes even with all the virus around, its still a much better place to live.
once this virus thing subsides, reality sets in, where living in southern ontario for most people is a lousy life.
too much traffic, taxes, high cost of housing, regulations, poor weather, yes its very hot in july but hot go to orlando in july, ill show you in your face humid hot.
either way, you can wait or waste your time, but eventually you will be south of the border, its just a matter of time some will go soon and some take forever but eventually you will leave, if not you, your children will.

#130 Nonplused on 07.08.20 at 8:50 pm

#110 Dawn Ripley on 07.08.20 at 7:38 pm

“An GST, HST hike of 3% to 4% points would bring in $35 to $45 billion more per year plus the carbon taxes it can easily bring in a total of $50-$52 billion per year. In 6 years the $343 billion deficit is covered.”

———————

Except that it doesn’t work that way. Raising a tax doesn’t create any more money so that means those paying the tax will be spending less on other things which are already taxed. We are already at peak tax. No new tax can be imposed without lowering other tax revenue and reducing economic activity. It’s all just rearranging the chairs on the Titanic at this point.

They can attempt to raise the income tax on the rich, but that’ll just raise prices so they may as well just increase the HST. At least then you could see it on your receipt. But it is a better solution from the government’s point of view to not have you see it on your receipt and only have say 20% of the population or less that it is worth it to audit so that is why they use a graduated tax system. But in reality we all pay the same tax rate, it is just hidden in prices.

#131 Two-thirds on 07.08.20 at 8:50 pm

I’m throwing the towel: if you can’t beat ’em, join ’em.

Why save and invest, be prudent with money when those who do the opposite reap the rewards??

If one person in each household stops working, UCB payments will go up (for most) and then UBI added on top, why bother working??

Those with $ will pay for them all, so I am flushing my cash effective immediately: sports car ahead of the luxury tax and raised HST, home reno, boob job, the works! There will be nothing to tax when they come a’knocking!

(sure, they will never touch the TFSA or RRSPs, or any other tracked and registered investment… good luck with that in a broken and desperate government)

Or covid may take care of things before then, so I am joinign the YOLO crowd, now that moral hazard is official Canada Government policy.

F being prudent! :(

#132 TurnerNation on 07.08.20 at 8:52 pm

Follow the money.
It seems as if many believe their compliance with the insane and traumatizing global CV protocols will earn them freedom again.
Imagine you are kidnapped. Will compliance with your captors’ strict rules earn your release?
Of course not. They kidnapped you for a reason. For money. Ransom.
Now they got us lined up. Let the fleecing begin.

#133 Ponzius Pilatus on 07.08.20 at 8:55 pm

#65 Smartalox on 07.08.20 at 5:36 pm
Also, another thought regarding Canada’s high level of spending to see the country through Covid-19. Not since WW2 have we accumulated this much debt?

One thing to consider about that: after WW2, Britain was completely broke. It’s no coincidence that in the 5 years after WW2, the British empire ‘granted’ independence to all its far flung colonies, including India (’47), Pakistan (’47), Israel (’48) and Newfoundland and Labrador (’49). They were BROKE. And they weren’t particularly flush when the war started, either.

Life in Britain remained strained and austere for decades after the war, with public spending curtailed well into the 90s and past 2000.

Is that what we have to look forward to, Canada? Fifty years of decrepit public buildings and high taxes?
——————–
Germany and Austria were beyond broke after WII.
Beyond hope, I would say.
Look where they are now.
Britain is not a good example.
Stay positive my fellow Canadians. And wear a mask.

#134 Axehead on 07.08.20 at 8:58 pm

Well, looks like this all just lit a fire under Wexit arsses.

#135 Axehead on 07.08.20 at 9:05 pm

#42. There are 2 official languages in Canada. And one needs only know one to run for office. Yeah, might be practically impossible to win without being fluent in both, but it’s not mandatory.

#136 crowdedelevatorfartz on 07.08.20 at 9:07 pm

Gee,
via Rail just announced 1000 laid off….at the beginning of Summer tourist season.
Just the beginning.
Perhaps Trudeau shouldn’t have given away the entire bank BEFORE things got financially worse?

This economic downturn is going to get worse and worse and worse as the gubmint has less and less and less.
‘Hello? Where’s my CERB? I deserve money for nothing!”
Welllll done socialists , welllllll done

#137 PastThePeak on 07.08.20 at 9:07 pm

Not what I wished I would have to do, but such is the country we live in:
– Sole proprietorship side business which allows tax deductions off salary while building semi-retirement plan [Check]
– Moved substantial savings to alternative monetary assets that will not die with the CAD$ [Check]
– Selling non-registered investments with cap gains at points this year in Jan, Feb, and June [Check]
– Ready to move to 4-days a week should taxes increase on my bracket [Check]

I am happy to work less, pay less taxes, spend less, and live more simply. Just need to convince the wife…

Why work & burn yourself out, going full steam (paying huge taxes every step of the way) to build a retirement fund that allows a high end lifestyle. Chances are you will not have much time to enjoy it.

Semi-retire early, do something different, stay below the tax-you-to-death threshold, and get out of the CRA crosshairs.

#138 Ferry Boy on 07.08.20 at 9:09 pm

16 CJohnC on 07.08.20 at 3:24 pm

Yeah and just where are they going to go?

The debt is a huge issue. Big negative. But have you looked at everyone else’s debt?

There is no where else to go.

MF
===================

You are so naive. The really rich people have plenty places to go to make it their residence for tax purposes. They don’t even have to live there much .. they can even come back to Canada and stay for up to 183 days. Maybe stay out a few years, rent the house out and wait for a chance of government. These guys have the best tax advice going.

Also, FYI .. British govt raised top income tax rate to 60%… revenue fell. Dropped it to 50% a year or so later and revenues went up. Go figure

#139 PastThePeak on 07.08.20 at 9:11 pm

#29 NSNG on 07.08.20 at 4:00 pm
So what is this going to do to the C$? There is no way I’m keeping cash here. It’s just not worth the risk.

My two moves are to get completely out of what little debt I have and buy assets, preferably denominated in US$
++++++++++++++++++++++++++++

USD$ is likely OK in the short term, but they are spending even more money (fiscal and Fed) in propping up every market. While the USD$ will retain value longer than CAD$ doing the money printing game, when it goes, it will go hard…

#140 IHCTD9 on 07.08.20 at 9:12 pm

Ryan L did a blog a while back where he stated the nature of government handouts, that being: “once you create them, they tend to never go away, and usually only get bigger”.

Case in point is Wynne’s hydro subsidy. Ford only reduced the cost further due to Covid. My last hydro bill was under 130.00 for like 950 kwhr’s – that’s early 2000’s pricing.

Meanwhile, damn near the entire hydro bureaucracy in Ontario is on the sunshine list. Wynne’s decision to form a public Corp to borrow money and subsidize hydro kept the bill off her Provincial balance sheet.

To top it all off, Ontario has lost so much heavy industry and manufacturing that our hydro demand has been dropping like a rock, and we now have to PAY other jurisdictions to take it off our hands under certain conditions. What a freaking mess!

Any handout Trudeau implements will never end, and will grow bigger every year. Eventually it will attain debacle status like pretty much every government program does if left long enough.

#141 SoggyShorts on 07.08.20 at 9:21 pm

#143 MF on 07.08.20 at 9:08 am
26 Fritz Barker ESQ on 07.08.20 at 1:14

Yeah nobody cares.

Every time there is some story about gta real estate these ex pat types pop up like gophers.

Here’s a thought for you: the rest of the world (including a heavy presence in the gta and Canada in general) is crawling with Asian ex pats who left for a variety of reasons. And we are lucky to have them.

All you need to do is dig a tad below the surface to see why people leave those societies.

Easy going culture? Umm no. Maybe in a gated retirement community, sure.

And lol and mentioning weather. Been gorgeous here in the gta for months already, like it is every summer. Yawn.

MF
********************************
You have often downplayed how awesome SEA and other places outside of the GTA really are, and I have to ask: Have you traveled much?

I love Canada, but even the parts that get 6+ months of “decent” weather can’t compare with nicer climates.
It’s not even close.

Of course, North America has a lot of Asian expats- that’s because it’s a whole lot easier to earn NA wages in NA.
e.g. the average Vietnamese worker like a hotel receptionist or restaurant worker makes $235 CAD per MONTH.
So the logical thing to do is to earn money here and spend it there.

As for easy-going culture: what makes you think this doesn’t exist outside of gated communities?
It absolutely does, whether it’s in the easy-mode ex-pat groups, the down-to-earth locals, the carefree FIRE community, sleepy villages, partying tourists, etc
Granted, there’s probably some “work yourself to death rat-race” types too especially in the big cities, but it’s very unlikely that you’d ever experience that as an expat.

The greatest lottery you’ll likely win in your life is that of being born in a rich country- I think it’s sad to squander it by spending all of your money where the prices are rich too.

M40AB expat 2021

#142 Robert Ash on 07.08.20 at 9:24 pm

I really think Canadians, should put the Pressure on our elected Leaders and MP’s to organize Referendums. If just this message, as a Voting prerequisite was put forward consistently, then our Country would improve and experience growth, and an engaged and supportive electorate. Major issues like Pipelines, Immigration, and Deficits, UBI, etc. , these are such important issues, we need a strong consensus, or our Country will continue to operate as a small set of independent and selfish geographic regions. How can we move forward to compete with other countries, EM, for example, if we cannot work as productively? If we are in fact embracing Socialism, and making ourselves less competitive, shouldn’t we ask if this is the path forward a majority of Canadians, want… Increasing the Total Tax burden on Corporations, or Disincentives, like Capital Gains, increases, just slow progress, and in fact will hurt the target sector these programs, are designed to help. Small business drive our future, but seem to be a the end of the line. Also the Control, and presence of an Omnipotent Federal Government, will hurt Canada’s future as we compete, Globally. Maybe the Globalist, agenda has changed, and we are just along for the ride.

#143 Trojan House on 07.08.20 at 9:24 pm

#112 B on 07.08.20 at 7:40 pm

The way out would be for politicians to show some real leadership, step up to the plate, inspire confidence not fear in people and end the lockdowns. Look at these stats for Ontario:

https://www.publichealthontario.ca/-/media/documents/ncov/epi/covid-19-weekly-epi-summary-report.pdf?la=en

All the stats peaked mid-April and have been going down ever since. We’re past the point of any problems whether lockdowns and social distancing helped or not. It’s time to open back up fully because if we don’t there will be a lot more hurt going forward.

#144 takla on 07.08.20 at 9:29 pm

hey Garth my GF stac says we want our UBI checks now

#145 PastThePeak on 07.08.20 at 9:34 pm

#90 kappa on 07.08.20 at 6:31 pm
There is no such thing as free lunch. Sooner or later the gentle people of Canada will realize that printing money can only get you so far. It can only delay the inevitable. What you gain today from printing money, you will loose tomorrow by means of price increases (inflation) and Canadian dollar devaluation. Yeah, you may get an extra 2k a month via printing press, but everything around you will automatically be priced to absorb your 2k increase.
+++++++++++++++++++++++++

You are correct, but you haven’t followed through to the conclusion yet.
– Say UBI of $20K per person is implemented, mostly paid for through debt increase, funded by primarily BoC printing press
– Prices as you note rise, which leads to cries for “higher UBI to address inflation”. More debt, more money printing, inflation and currency debasement.
– Raise UBI higher, every year, maybe even 2x per year. More money printing…
– ….repeat until the currency is worthless
– …but on a good note, income equality has been addressed…everyone is poor…

The funny thing is…even though this process has always failed before…everyone thinks it can’t happen now…

#146 AM in MN on 07.08.20 at 9:43 pm

“Biden is centrist. Not a crazy like AOC. – Garth ”

Biden can’t remember what he had for breakfast. His job will be to sign the papers his masters put in front of him, much like Jr. does, while the backroom boys run the show and take a thick slice off the top for themselves.

The problem is that this time around, the cost for this power is giving up a King’s ransom to the Bernie Bros. & AOC.

MMT isn’t modern, BoC is doing it now. Print and spend until the markets won’t let you, but by then you’re in a debt death spiral and the Country will need to sell it’s soul to the creditors. The Fed is doing it and co go on a bit longer, but the end result is the same.

When the credit markets finally tighten up, run for bunker.

If the Dems can bring about a way to let 15-20M illegal immigrants vote in 2024, get ready for a revolution.

Keep your family close, the strong ones will get through it. Don’t get emotionally attached to real estate, be ready to move. Keep your assets liquid, and mobile!

My guess is that you won’t need to. Calmer heads will prevail, Trump takes 40 States, the rule of law gets preserved.

Rights to self defense, private property, religious freedom, free speech and a less corrupt Justice system will prevail against the mob rule of the Marxist revolutionaries.

#147 Sail Away on 07.08.20 at 9:45 pm

#108 crowdedelevatorfartz on 07.08.20 at 7:29 pm

Things are getting bad.
Garth.
Could you post your squirrel recipe again?

——————

Quarter them up, salt/pepper and 10 mins in pressure cooker. Remove from pressure cooker and pop on bbq for another 7-8 minutes. Slather on the sauce of choice and enjoy!

Let your mother in law eat before telling her what it was.

#148 NoName on 07.08.20 at 9:47 pm

@ponzi
achtung achtung schnell schnell aufiderzein

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

#149 IHCTD9 on 07.08.20 at 9:48 pm

#137 PastThePeak on 07.08.20 at 9:07 pm
Not what I wished I would have to do, but such is the country we live in:
– Sole proprietorship side business which allows tax deductions off salary while building semi-retirement plan [Check]
– Moved substantial savings to alternative monetary assets that will not die with the CAD$ [Check]
– Selling non-registered investments with cap gains at points this year in Jan, Feb, and June [Check]
– Ready to move to 4-days a week should taxes increase on my bracket [Check]

I am happy to work less, pay less taxes, spend less, and live more simply. Just need to convince the wife…

Why work & burn yourself out, going full steam (paying huge taxes every step of the way) to build a retirement fund that allows a high end lifestyle. Chances are you will not have much time to enjoy it.

Semi-retire early, do something different, stay below the tax-you-to-death threshold, and get out of the CRA crosshairs.
— —

Yep. We won’t have enough to quit work entirely much before 65, but both of us going part time before 60 is completely doable.

I already pay jack squat for income taxes, but this will not last forever as it is now. If I find it suddenly swings the other way, it’s going be part time work then. Maybe even for a decade prior to hanging up the gloves permanently.

Let the Trudeau supporters foot the bill.

#150 I'm Alright Jack on 07.08.20 at 9:54 pm

I kind of hope that inflation soars, unemployment stays very high, interest rates soar (to try to protect a plummeting loonie), and our collective standard of living seriously declines.

And the Libs get in again with a majority, so they can be held fully accountable for the doggy doo mess they’ve made of this once great (OK, sorta good) country.

Then all those dumb [email protected]#ks who voted for these Liberal idiots (twice) can maybe feel some real pain and begin to realize there is no free lunch. How else are stupid Canuck voters to be taught?

#151 Doug t on 07.08.20 at 9:54 pm

#130 Two Thirds

Hit the nail on the head

#152 IHCTD9 on 07.08.20 at 9:58 pm

#138 Ferry Boy on 07.08.20 at 9:09 pm

Also, FYI .. British govt raised top income tax rate to 60%… revenue fell. Dropped it to 50% a year or so later and revenues went up. Go figure
— –

Laffer curve in action.

France learned the same lesson. They cranked taxes at the top of the income bracket and revenues tanked. All the millionaires finally said **** this and took off. Things got so bad for Macron he had to rescind the tax to try and get all the rich folks (who were paying most of the taxes) to come back lol!

What a goof. From there he cranked gas taxes and ended up with the yellow vest protests hahahahaha!

Macron was effectively “running out of other people’s money”.

#153 crowdedelevatorfartz on 07.08.20 at 10:07 pm

@#133 Ponzie Preamble
“Germany and Austria were beyond broke after WII.
Beyond hope, I would say.
Look where they are now.
Britain is not a good example.”

++++
Well , Neither is Germany (Austria?)
.
Germany’s industry and cities were obliterated during the war.
The “victors” ( US and its Allies) were faced with a new threat, communist Russia.
So….did they let western Germany starve and fall into communist hands ….and then the rest of Europe become communist OR follow the Marshall Plan which spent billions feeding, employing and rebuilding Germany’s flattened cities and (more importantly)industries…..
( Japan was in the same boat).
25 years later….. Germany and Japan’s much more modern industries danced circles around 50, 60 and 100 year old American and Allied factories that hadnt been bombed out of existence.
Sorry Ponzie, Germany isnt a good example either and Austria dosn’t rate unless we consider the economic benefits of……..strudel.

#154 IHCTD9 on 07.08.20 at 10:07 pm

#136 crowdedelevatorfartz on 07.08.20 at 9:07 pm
Gee,
via Rail just announced 1000 laid off….at the beginning of Summer tourist season.
Just the beginning.
——-

Agreed. I’m seeing the same thing at work, all kinds of delayed reactions. Old contracts ship out with nothing new to replace them. One of our biggest customers finally threw in the towel and moved to the southern US.

Ramifications.

More to come…

#155 Gary on 07.08.20 at 10:12 pm

My accountant a ex CRA guy, says Trudeau is coming for retained earnings in private, professional corporations.
Most of the the small business owners have used dividend income as a pension plan especially when they retire to supplement OAS & CPP. If you yank to much out you loose your OAS.

You will see more small business close just because of a move by Trudeau like this, why be self employed?

I knew I should have made my dog and cat shareholders

#156 crowdedelevatorfartz on 07.08.20 at 10:12 pm

@#140 IHCTD9
“Meanwhile, damn near the entire hydro bureaucracy in Ontario is on the sunshine list.”

++++

Careful Brudda.
Dont want to offend the coddled, overpaid, over pensioned, politically correct, cupcakes that “struggle” from their home pc’s while snorfling at the gubmint trough……..
Govt Lives Matter.

#157 Sail Away on 07.08.20 at 10:14 pm

#107 Faron on 07.08.20 at 7:29 pm
Sorry Garth!
#84 Sail Away on 07.08.20 at 6:20 pm
#59 Faron on 07.08.20 at 5:28 pm

I do love how small your ego is by the way. It probably almost fits inside Vancouver city limits. So easy to stroke. So supple. You really should show it off more.

—————

Aw, shucks. And here I thought you didn’t like me.

One thing that’s fun is being a baller. You know, when buying a car for your kid or paying for a group fishing charter or something, pull out a couple $10k straps of $100s and toss them on the table.

#158 IHCTD9 on 07.08.20 at 10:34 pm

#133 Ponzius Pilatus on 07.08.20 at 8:55 pm

Germany and Austria were beyond broke after WII.
Beyond hope, I would say.
Look where they are now.
Britain is not a good example.
Stay positive my fellow Canadians. And wear a mask.
— –

Europe got a ton of help rebuilding from the US after the war. The US had to keep the Soviets out. Stalin was grabbing territory at the close of the war like gangbusters, even continuing to fight in Japanese occupied territory after Japan surrendered.

The axis countries weren’t allowed to spend hardly anything on their armed forces, so it went into industry. Same thing happened in Japan. They went from a bunch of fanatics worshiping a god emperor to a first world nation in 4 decades. Britain rebuilt her armed forces and paid her debts.

Canada will be much more like Greece or Venezuela today than any major power in Europe after the war. It all boils down to Canadians themselves really. If we don’t want to change direction, we may end up where we are headed.

PS. You were looking for a good redneck theme song for the comments section yesterday. I figure since we’re mostly all old crusty curmudgeons well past our prime in here, that this would be a good one:

https://www.youtube.com/watch?v=ldQrapQ4d0Y

#159 Leo Trollstoy on 07.08.20 at 10:35 pm

Covid cases will continue to rise in spite of anything we do

I agree with epidemiologists: nothing stops covid except death or immunity

https://youtu.be/bfN2JWifLCY

Economic damage has all been self inflicted. Covid news all for eyeballs and ad dollars

#160 AisA on 07.08.20 at 10:52 pm

#132 TurnerNation on 07.08.20 at 8:52 pm

Well, he’s bloody right.

Has nobody else noticed a pattern of 10 years of there’s no money for this or there is no money for that, but soon as the powers that be have all their ducks lined up, kapow, trillions fall from the sky.

It’s crass at this point.

#161 akashic record on 07.08.20 at 10:53 pm

Look at the bright side: it cost like WW2 – but we didn’t have to die.

End artificial population growth immediately: headcount is the biggest fiscal liability in the $1.2 trillion debt.

Plus covid may take years to flame out, the promise of the vaccine is more of a job creation program for the pharma industry and PR tranquilizer for the masses than reality.

Bring in the federal economic recovery program: automation, robotics, automation, robotics, automation, robotics.

Advanced, productive new economy for the smallest amount of people by the fewest human labour.

That’s how UBI and the Green Economy just endorsed by Biden’s party today will hurt the best.

This is Peter McKay rabbits in his hat, we may not even have to where the horseshoes exiting his bottom.

What’s better than direct deposits for nothing?
Getting it with less debt, thanks to the robots.

We’d better start it now, it won’t take long before free the robots becomes an election platform of the opposition.

#162 Asif Moolaga on 07.08.20 at 10:57 pm

Canada NEEDS at least 700,000 newcomers this year.

#163 akashic record on 07.08.20 at 10:59 pm

opsss.. “That’s how UBI and the Green Economy, just endorsed by Biden’s party today will hurt the LEAST.”

#164 Canuck on 07.08.20 at 11:12 pm

Whether dinos like you recognize it or not, climate change activism is now centrist. – Garth

Really? When was the last time climate change was mentioned on the news or talked about by the “centrist” Biden?

#165 cuke and tomato picker on 07.08.20 at 11:19 pm

I believe that the government should only give money to the mentally ill, the physical handicap, and single mothers with children.

#166 fishman on 07.08.20 at 11:44 pm

hey Dawn Ripley. New carbon taxes alongside HST/GST bringing in 50 billion new $’s/year. Sounds good on paper. My buddy just phoned from Port Angeles. Thats on the U.S. side across from Victoria. On his way to the tuna grounds. Diesel fuel is C$.50/litre. Little less than half of what it is in Canucklestan. You do know how to get diesel fuel? You just purse your lips & suck. Its makes the economy go round & round.

#167 jal on 07.09.20 at 12:01 am

If you are not connected and have money … expect increased taxes.
If you are connected and have uncollectible loans …. expect a jubilee.
Everybody else, expect indentured servitude.

#168 Joe on 07.09.20 at 12:48 am

Hi Garth, Can you please help me understand… instead of giving CERB to everyone who applies… can they just give it to those in need (i.e. if you have net assets over $250k and you don’t qualify for EI, then you shouldn’t be receiving cerb)… Not everyone should be receiving handouts!! SO FRUSTRATING

#169 short horses on 07.09.20 at 12:48 am

Hi Garth — it seems apparent that the US remains in the throes of its first COVID-19 wave, with many places getting worse by the day, and yet the US stock market is hitting all time highs.

On the other hand, Canada and many other developed markets are making many of the right moves, and their economies are re-opening responsibly, yet their market indices aren’t enjoying the same runaway success.

Are you keeping the weightings constant in your B&D portfolio? Or are you reducing US exposure and increasing your Canada and EAFE exposure?

#170 Joe on 07.09.20 at 12:48 am

Hi Garth, Can you please help me understand… instead of giving CERB to everyone who applies… can they just give it to those in need (i.e. if you have net assets over $250k and you don’t qualify for EI, then you shouldn’t be receiving cerb)… Not everyone should be receiving handouts!! SO FRUSTRATING

#171 Sue on 07.09.20 at 1:24 am

OMG
Can no one in Ottawa do math?

#172 the Jaguar on 07.09.20 at 1:31 am

Tuned into the ‘The National’ news broadcast this evening which included a brief interview with our ‘finance guy’ Morneau. He sure wasn’t born into a life of ease in front of a television camera. He’s no charismatic elfin deity like Flaherty. Few of us are.
Good thing for him he married well and knows ‘who’s in charge and how to stay out of trouble’.

What a mess we find ourselves in. Canadian complacency fueled by the mundane and intellectual ‘dumbing down’ courtesy of social media, laziness, and a lack of critical thinking. Willingness to give in to marxist mob thinking and cancel culture rather than fight for a system of moral truths and success and prosperity. For thousands of years societies have largely been formed by hierarchies, which resulted in technological progress and advancement. Pretty good model if you ask me. You can’t change nature and you will not.
The failure of the media to provide balanced reporting and the absence of investigative journalism to inform the greater public good is another sadness. It’s like we are living in some throwback society that resembles all the decadence of the Weimar Republic. ‘Anything Goes’, as the great Cole Porter once wrote. Big box multi conglomerates crowding out local initiative and enterprise. No interesting or thought provoking films anymore, just comic book biopics with special effects to ensure the disruption of ones sleep patterns. I love Batman in small doses, but what an incredible bore. What the hell ever happened to ideas? Conversations versus text and twitter? I pity those who don’t understand the richness of the former versus the latter.

Maybe that’s why Douglas Murray wrote ‘The Madness of Crowds’. Next on my reading list.

As an Albertan, I regret the absence of any acknowledgement or support for industries that pay the rent in this country. Yes amigos, we are talking oil and gas resources. If you doubt this look up sources of GDP/Canada.

As an example of the current treachery, get a load of this: (Try to recall why little ‘Greta’ flew over the entire USA to arrive in Alberta oil resource lands and Edmonton) .
———-
“Last July, Premier Jason Kenney’s UCP government created a $2.5-million inquiry into international campaigns supposedly targeting the province’s energy industry.
The inquiry, led by former Calgary Economic Development board chair Steve Allan, is investigating foreign-funded efforts that Kenney says are undermining Alberta’s oil and gas sector.The funding of Ecojustice Canada is being reviewed in the lawsuit.
The Vancouver-based environmental group is seeking a judicial ruling that a public inquiry into anti-Alberta energy campaigns funded by foreign organizations be declared beyond the powers of the provincial government to order.
An “industry consortium” featuring Calgary philanthropist and businessman W. Brett Wilson has been granted court status to fight an environmental law firm’s bid to derail a public inquiry into foreign interference in the oilpatch.
Ecojustice had opposed the bid by Wilson, Indian Resource Council Inc. and the Explorers and Producers Association of Canada to make representations in their court application.”

————
If Ecojustice has nothing to hide, then why would they give a ‘fig’ about a government enquiry into the matter, and not just voice an ‘objection’, but actually file a formal lawsuit? (Because some countries are known to file lawsuits).

Why should they care if an ‘Industry Consortium’ takes an understandable interest? What do they have to hide?
This sort of ‘hustle’ is unfortunately defining the times we live in.
What’s the way out? ‘Straight Through’, with a person of outstanding character, and determination. Unwavering understanding of ‘True North’. Earnest Shackleton isn’t with us anymore, and I confess the Jaguar is a little busy at the moment….mercy.

#173 Cheryl Curtis on 07.09.20 at 2:50 am

Garth, what do you think of the idea that investment advisor & financial mgmt fees based on performance rather than assets? This is an idea being floated by Big Tech who will offer services starting 2021.

It incentivizes risk-taking. Horrible idea. – Garth

#174 Paul Drake on 07.09.20 at 3:00 am

#102 Nonplus. Remember. Pandora’s Box . The only thing left in the box after all evil had escaped into the world was hope.

#175 BillyBob on 07.09.20 at 5:19 am

#127 Ponzius Pilatus on 07.08.20 at 8:42 pm
#55 Howard on 07.08.20 at 5:16 pm
Why the hell would ANY successful, talented young person stay in Canada at this rate? What could they possibly get out of it aside from brain rot?

If you’re under 35, start exploring your options. Past 35 it gets far more difficult to escape.
————–
Please, tell us where they should go.
Thanks in advance.

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

Absurdly simple question which as an expatriate yourself you know is impossible to provide a blanket answer to. Perhaps one day if it weren’t too personal you could tell your story why you left Austria for Canada. From my own experiences in both countries, on balance that would seem like a serious downgrade. Yet I’m sure there were good reasons for you to do so based on your own very specific circumstances.

The poster asked why any successful, talented young person would stay in Canada. A rhetorical question that doesn’t address the vast majority who are neither successful or talented. For that mass an increasingly socialist and government-dependent state probably WOULD be more suitable. They certainly seem to love the handouts.

It’s the mindset of smug Canadian exceptionalism that I find narrow to the point of laughability. No one is suggesting everyone should expatriate. The argument is simply to open one’s mind to opportunities outside of the conventional.

The future belongs to the adaptable and agile. Debt and dependency are antithesis to this. And the latter is the direction Canadian society seems to be headed at breathtaking speed. I’ve seen much to support this and nothing to suggest otherwise.

And this is said in sorrow, not self-satisfaction.

#176 Kate on 07.09.20 at 5:38 am

Had electrician over to fix sonething. Said he is swamped with work.. installing hot tubs. Cerb + lockdown apparently good for some industries

#177 Hike in HST on 07.09.20 at 6:06 am

Good morning Garth,

What do you think of a hike in the HST?

#178 Brito the Builder on 07.09.20 at 6:20 am

I am still working for cash and collecting CERB. I’ve essentially got a $2000/month raise. It’s amazing.

#179 Gravy Train on 07.09.20 at 6:45 am

#140 IHCTD9 on 07.08.20 at 9:12 pm
“[…] My last hydro bill was under $130.00 for like 950 [kWh] – that’s early 2000s pricing.[…]” Got you beat! My last two-month power bill was $22.74 for 2,032 kWh—and with 31 kWh banked. We’re not allowed to sell them more than we buy; otherwise, they’d have to write us a cheque. :P

“[…] Wynne’s decision to form a public Corp to borrow money and subsidize hydro kept the bill off her Provincial balance sheet.[…]” No, Hydro One is included in the consolidated financial statements of the province of Ontario. See The Public Accounts of Ontario 2018-2019.
https://www.ontario.ca/page/public-accounts-ontario-2018-19
https://files.ontario.ca/tbs-annual-report-and-consolidated-financial-statements-2018-19-en.pdf

You do know how to read financial statements, don’t you? :P

#180 Howard on 07.09.20 at 7:38 am

#127 Ponzius Pilatus on 07.08.20 at 8:42 pm
#55 Howard on 07.08.20 at 5:16 pm
Why the hell would ANY successful, talented young person stay in Canada at this rate? What could they possibly get out of it aside from brain rot?

If you’re under 35, start exploring your options. Past 35 it gets far more difficult to escape.
————–
Please, tell us where they should go.
Thanks in advance.

————————————-

Pretty well any other developed country is better than Canada at this point.

Depends what you value most. The US obviously offers higher salaries, lower taxes, and lower cost of living (outside of NYC or San Fran, but even those cities are cheaper than Vancouver). Personally I went the European route. Yes, taxes are high and salaries similar to Canada (aside from London, where they are much higher). However here we actually get something in return in the form of better work-life balance, long vacation leave (I get 8 weeks), better health care systems than Canada (in my experience), and stimulating work opportunities allowing one to interact with other Europeans across the continent.

Even Australia and New Zealand offer better salaries (marginally, in the case of NZ), and more paid holiday, leaving aside the nice weather.

I just don’t see any perks to living in Canada for those who are ambitious and prudent, whether one leans more to the entrepreneurial side or the managerial side. If you can identify some, have at it. From my vantage point, the reward for working hard and properly managing your finances is to pay crushingly high income taxes to pay for CERB handed out to layabouts who voted for Trudeau because they like his hair and to pay for the government’s latest prop-up-housing interventionist scheme.

#181 crowdedelevatorfartz on 07.09.20 at 8:25 am

179 Howard
“Even Australia and New Zealand offer better salaries (marginally, in the case of NZ), and more paid holiday, leaving aside the nice weather.”

++++

Their higher salaries are off set by their lower valued currency and higher cost of living…all things being equal.

$1 canuck = $1.06 Ozzie
$1 canuck = $1.12 Kiwi

But the way Trudeau is blowing the bank and destroying our country’s credit…..I’m sure it will be the opposite in 12 months or less.

#182 Dharma Bum on 07.09.20 at 8:28 am

The only thing left to save this sorry country is a proper immigration policy.
Not the welfare kind, but the economically advantageous kind.

We need to let in millions of people from other countries that can buy their way in with massive cash commitments AND the promise to open businesses that will self sustain by their own capital, and hire at least two employees.
The newbies will not be eligible for Trudeau freebies and handouts for at least 10 years.

Right now, too many Canadians are just a bunch of ignorant zombie leaches that only know how to take, take, take, and contribute squat.

Like the Keep Your Rent schmuck.

#183 crowdedelevatorfartz on 07.09.20 at 8:29 am

@#175 Kate
“…..installing hot tubs. Cerb + lockdown apparently good for some industries….”
+++

Its good to know Brainiac canucks are using the CERB handouts to install even more baubles in their overpriced , mortgaged homes.

#184 Jager on 07.09.20 at 8:29 am

There is a time for all things…

Philip Cross: Suddenly ‘dead money’ is a dead idea
“Then Governor of the Bank of Canada Mark Carney shows the new Canadian $100 bill in 2011. Now is a good time to revisit Carney’s 2012 denunciation of corporate savings as “dead money” that would be better spent than saved, writes Philip Cross.”

https://www.msn.com/en-ca/money/topstories/philip-cross-suddenly-dead-money-is-a-dead-idea/ar-BB16wHrk?li=AAggNb9

Philip Cross is a senior fellow at the Macdonald-Laurier Institute

#185 kingston boy on 07.09.20 at 8:38 am

@#177 Brito the Builder on 07.09.20 at 6:20 am
I am still working for cash and collecting CERB. I’ve essentially got a $2000/month raise. It’s amazing.

————–

what goes around, comes around buddy.

#186 Re-Cowtown on 07.09.20 at 8:43 am

Whether dinos like you recognize it or not, climate change activism is now centrist. – Garth
++++++++++++++++++++++++

This statement shows the cognitive dissonance at the heart of “Climate Change”. It is all purely political. If it was science-based there would be no need to cast it as “leftist”, “centrist” or “rightist” or name calling. It would be plainly obvious to all.

And that is why it is a BS issue. Without political labeling for consumption “Climate Change” ceases to exist.

The statement is correct as it stands. This is now mainstream political thought. Fact. – Garth

#187 Apocalypse2020 on 07.09.20 at 8:45 am

#1 Dave said it well:

“War drums are beating loudly.

People are locked down but have income for food…structure is set.

Now USA to trigger proxy war with China”

Trump needs war to distract America and delay an election.

It is coming by end of the summer.

PREPARE

#188 TurnerNation on 07.09.20 at 8:56 am

— Becoming super clear to me. This is all an economic take down. The reset. Focus on low/no travel (#stayhome they told us right?) and herded into UN Smart cities.
All will be into poverty: Either forced onto UBI or taxed to death. The govt said taxes are not the answer? Ha. Flip that statement 180 degrees to make sense.

A global reset. NOT my words. The World Economic Form – they people who run the world say so:
https://www.weforum.org/agenda/2020/06/now-is-the-time-for-a-great-reset/

If you think your local elected rep works for you, why are they following the global model? And masks only hurt small business more. Face it they #Cancelculture’d us. All kids activities, school activities, concerts, sports, arts events are Banned. Communism hates culture and fun. In my province we are for forbidden from sitting down inside any business or eatery. Playgrounds are closed. Singing on patios is banned. Hugging your parents in a care home, also banned. This not going away either- not until 2022 at least. . Say isnt’ this why we fought Al Q/Taliban – or whichever bogeyman the handful of controlled media sold us on so hard? Losing WW2 would not have been this bad.
People are still in denial. ‘public health’ is a strong meme

–Maybe the immunolgists and virus experts on this blog could explain why the world was not shut down then:

https://en.wikipedia.org/wiki/2009_swine_flu_pandemic
“Some studies estimated that the actual number of cases including asymptomatic and mild cases could be 700 million to 1.4 billion people—or 11 to 21 percent of the global population of 6.8 billion at the time.[12] The lower value of 700 million is more than the 500 million people estimated to have been infected by the Spanish flu pandemic.[1”

#189 crowdedelevatorfartz on 07.09.20 at 9:18 am

@#186 Apocalypse 2018,19,20

“It is coming by end of the summer….”

*****

Is that before or after the earth ending comet?

#190 R on 07.09.20 at 9:23 am

#62 Doug Peters:
I agree with you. The Liberals attacked the TFSA ,saying it was only used by the wealthy, and was unfair. I suggest, rather than further messing with the TFSA ( Limit contributions or gains), they should do a little bit of introspection. The Pension Plans the govt workers have are becoming obscene. They are now the elephant in the room, and the epitome of unfair.

#191 IHCTD9 on 07.09.20 at 9:26 am

#178 Gravy Train on 07.09.20 at 6:45 am
#140 IHCTD9 on 07.08.20 at 9:12 pm
“[…] My last hydro bill was under $130.00 for like 950 [kWh] – that’s early 2000s pricing.[…]” Got you beat! My last two-month power bill was $22.74 for 2,032 kWh—and with 31 kWh banked. We’re not allowed to sell them more than we buy; otherwise, they’d have to write us a cheque. :P
————-

Sweet! But, nobody’s going to build a grid tied array when 1000 kwh cost like 130.00. How much was your system, and has it paid for itself yet? You’ve been getting good power making sunny days so far this summer.

——
“[…] Wynne’s decision to form a public Corp to borrow money and subsidize hydro kept the bill off her Provincial balance sheet.[…]” No, Hydro One is included in the consolidated financial statements of the province of Ontario. See The Public Accounts of Ontario 2018-2019.
——-

Hydro One ain’t the Public Corp Wynne formed to subsidize hydro. That Corp is a pc of paper that borrows money and gives it to OPG so that I can pay 130.00 for 1000kwh. I believe Ford has put the borrowing debt back on the Provincial books, but the subsidy will likely carry on till it expires in ~’23 because of our flimsy politicians.

#192 David Hawke on 07.09.20 at 9:28 am

Dang, it looks like the ‘real conservative party’ Max’s PPC will have to wait five years to get a chance to straighten out Canuckistan, eh!

The more deluded people who support Max, the longer Liberals will retain power. The PPC will never achieve government, but it will certainly split the Conservative vote. Did Preston Manning teach you nothing? – Garth

#193 IHCTD9 on 07.09.20 at 9:47 am

#184 kingston boy on 07.09.20 at 8:38 am
@#177 Brito the Builder on 07.09.20 at 6:20 am
I am still working for cash and collecting CERB. I’ve essentially got a $2000/month raise. It’s amazing.

————–

what goes around, comes around buddy.

— —-

Not in Canada it doesn’t. This kind of stuff has been going on pretty much unchecked for decades, and keeps getting bigger. These days we can add a multi-billion dollar industry in illegal and short term cash rentals to the list. Everyone knows it’s going on, nothing is done to stop it. Stopping it requires actual ENFORCEMENT, which guys like Trudeau just can’t stomach.

Let’s get real here, the CRA was given a gift in the form of the Panama Papers leak. Names, locations, account numbers, dollar values of Canucks who had Billions stashed tax free off shore. All the CRA managed to do was politely ask for the tax money to be paid, and promised if it was, that there would be no consequences for the evaders.

At this point, no one cares about scary headlines about the CRA “cracking down” on tax evasion, or new legislation making this or that thing illegal because there are no boots on the ground making anything actually happen.

#194 Re-Cowtown on 07.09.20 at 9:48 am

The statement is correct as it stands. This is now mainstream political thought. Fact. – Garth
++++++++++++++++++++++++++++++++

Again, perfectly makes my point about cognitive dissonance regarding “Climate Change”. If it were a real issue, casting it as “mainstream political thought” would be unneccessary, any more than casting gravity as “mainstream political thought” would be.

The problem with cognitive dissonance is that it forces the need to seek support from unrelated issues, and that turns into a Biden-esque word salad of things that sound right, but actually make no sense and don’t actuall fit together when you stop and analyze them.

That’s why attempting to “weld” the scientific idea of “Climate Change” to “mainstream political thought” to increase it’s chance acceptance makes no real sense. There is no link between the two.

I’ll contrast it with a simple satement:

I think we can all agree that the COVID 19 computer models have all proved wildly inaccurate. The COVID models contain a tiny fraction of the number of variables and far, far fewer assumptions than the Climate computer models. What are the chances that the Climate computer models are correct?

A more accurate statement of the political machinations surrounding “Climate Change” would be:

“Climate Change” has been accepted by mainstream politicians even though the climate computer models have been shown to be flawed.

Memo to self: never argue with a brick. – Garth

#195 Dr V on 07.09.20 at 10:12 am

168 Joe – everyone does not receive handouts. I kept working, took a 50% cut for a month but am back to normal for the moment. Wife went to zero for two months, collected cerb but is now back working.

It’s an income replacement, due to a loss basically dictated by government order. What does wealth have to do with it? You’ll note a higher income earner got no more cerb than a lower one.

#196 CHERRY BLOSSOM on 07.09.20 at 10:29 am

We will probably get a Covid-19 Tax so that people blame the pandemic and not the government,

#197 Howard on 07.09.20 at 10:33 am

#192 IHCTD9 on 07.09.20 at 9:47 am

Just wait until next April when the CERB parasites get their tax bill and go whining to the CBC and Toronto Star. Mass tax forgiveness will be granted, the invoice sent to the middle class.

#198 Lambchop on 07.09.20 at 10:36 am

#173 Paul Drake on 07.09.20 at 3:00 am

Remember. Pandora’s Box . The only thing left in the box after all evil had escaped into the world was hope

_______________

Ah yes. Hope. The panacea of the forlorn and defeated.
Right up there with prayers, as far as usefulness goes.

#199 Show me the money on 07.09.20 at 10:49 am

#157 Sail Away on 07.08.20 at 10:14 pm
#107 Faron on 07.08.20 at 7:29 pm
Sorry Garth!
#84 Sail Away on 07.08.20 at 6:20 pm
#59 Faron on 07.08.20 at 5:28 pm

I do love how small your ego is by the way. It probably almost fits inside Vancouver city limits. So easy to stroke. So supple. You really should show it off more.

—————

Aw, shucks. And here I thought you didn’t like me.

One thing that’s fun is being a baller. You know, when buying a car for your kid or paying for a group fishing charter or something, pull out a couple $10k straps of $100s and toss them on the table.

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

That you need to buy ‘friends’ is not news to us. #Sad

#200 IHCTD9 on 07.09.20 at 10:53 am

#194 Dr V on 07.09.20 at 10:12 am
168 Joe – everyone does not receive handouts. I kept working, took a 50% cut for a month but am back to normal for the moment. Wife went to zero for two months, collected cerb but is now back working.

It’s an income replacement, due to a loss basically dictated by government order. What does wealth have to do with it? You’ll note a higher income earner got no more cerb than a lower one.
– —-

Joe said “to everyone **who applies**”.

He’s arguing for a means test where some applicants would not be eligible – as opposed to giving CERB to high school kids still living at home who managed to earn 5k last year – like we are right now.

I applied for CERB when I got laid off at the end of March. We have a 5 figure emergency fund, no mortgage, wife still worked at the time, and a decent portfolio of savings, some of which could be liquidated to pay the bills if needed.

Joe is suggesting folks in my situation be denied CERB (I agree to a limited extent), as we don’t absolutely NEED it to surf a few months of unemployment.

A millionaire could have been eligible for CERB if meeting the very few restrictions in place for it.

Time will likely show this program was abused all to hell by Canadians and even foreign folks all over the world.

#201 IHCTD9 on 07.09.20 at 11:06 am

#196 Howard on 07.09.20 at 10:33 am
#192 IHCTD9 on 07.09.20 at 9:47 am

Just wait until next April when the CERB parasites get their tax bill and go whining to the CBC and Toronto Star. Mass tax forgiveness will be granted, the invoice sent to the middle class.
——

I would not be surprised to see something like this happen. You could probably shame the Trudeau government into doing pretty much anything. Hop on Twitter, strike an SJW pose, and the money falls from the sky.

Look at how good and nice we are!

Let’s be clear though, if they do – I’ll be claiming that handout too. The pain has to extend down to Canucks in an acute fashion at some point. Consequences are required if change is to ever happen. The sooner Ottawa is euchred and can no longer moderate the effects of their policies on Canadians, the sooner voter thinking begins change.

#202 akashic record on 07.09.20 at 11:08 am

#175 Kate on 07.09.20 at 5:38 am

Had electrician over to fix sonething. Said he is swamped with work.. installing hot tubs. Cerb + lockdown apparently good for some industries

Similar trend is happening all over the world, including installing pools.

It is a world-wide response for likely cancelled vacation plans for the next couple of years.

#203 Gravy Train on 07.09.20 at 11:30 am

#190 IHCTD9 on 07.09.20 at 9:26 am
“Sweet! […] (a) How much was your system, and (b) has it paid for itself yet?” (a) Net cost: $14,925. I got a dollar-per-watt rebate of $8,000 on my 8 kW solar system—paid for by your carbon taxes. (Thanks.) (b) Savings after one year = $1,434.29, so payback = 10.4 years. After-tax nominal rate of return = 9.6%. Sail Away claims to have a better ROR than that this year! :P

“You’ve been getting good power-making sunny days so far this summer.” Expected: 10,478 kWh this year. Actual: 9,352 kWh. I’m still pleased with the results. Note: This was the first year of operations, and I don’t live in Ontario! :P

#204 Ace Goodheart on 07.09.20 at 11:33 am

#193 Re-Cowtown on 07.09.20 at 9:48 am

The “Climate Change” debate is very complicated.

I like to play “follow the money” whenever I engage in this debate. It is helpful to understand why the various players are making the arguments that they make.

“Global Warming” is a proven fact. If you put CO2 in the atmosphere, it accumulates at the poles due to the Earth being a spinning ball and spinning balls having a certain characteristic where items that are caught in their atmosphere usually end up at either pole, depending on where they start out.

So the poles are warming up. This is a fact. It has been proven many times. It is not in dispute.

The Earth’s climate is changing. That is also an observable fact. Not in dispute. You can plot it on a graph and you can see it. There is a climate shift happening, where the “air masses” that create our climate zones, are moving differently to how they used to.

Take Southern Ontario for example. Weather in Southern Ontario is governed by the movement of two large air masses. They are (for your textbooks): Continental polar, and maritime tropical.

The jet stream runs on top of these two air masses, at the point where they meet.

When it is hot in Toronto, that is because the maritime tropical air mass is sitting on top of us. When it is cold (in winter) that is because the continental polar air mass is on top of us.

What has been happening in Toronto, is that the maritime tropical air mass has been sitting on top of us for longer time periods, and really warming things up. The continental polar air mass is not moving down as much as it used to during the summer. So we experience many more long, hot, and very humid days, than we used to.

We also have a build up of heat and moist air in the atmosphere, so when the continental polar air mass does move down, we get violent thunder storms and tornadoes, and really wild weather, flooding, property damage, much more than we used to.

This is all the result of what these two air masses are doing.

“Climate Change” folks have said, well, the reason why the climate is changing, is because the poles are getting hotter, and that is influencing the entire planet (the poles, remember, are where most of the CO2 ends up).

That may be true. And it may not.

The Climate Change folks have combined basically every climate issue, including melting polar glaciers, ocean levels, wild weather, hurricanes, typhoons, bush fires, basically everything, and said “this is all caused by too much CO2 in the atmosphere”.

Maybe it is. Maybe it isn’t. Climate is local and regional. There are lots of things that effect it.

So I say, “follow the money”. What is the Climate Change movement’s obsession with CO2? Well, they make all their money off of it. The “Green energy industry” is funded by carbon taxes. This industry includes the “biomass” industry, which basically involves cutting down trees, pelletizing them and then burning them for fuel (the argument is, the trees will grow back, so this activity is “carbon neutral”).

Green energy is not profitable. The industry makes their money by accepting carbon credits, which are just other people’s carbon taxes.

Follow the money.

Last year’s global climate circus, complete with Greta the sailing “second coming” on her “Ark” (with a team of sailors following her everywhere in commercial jets), was an attempt to get the entire world on the carbon credit system, with the UN acting as the central bank, collecting and redistributing money.

The Green energy industry was all over this. They really wanted those carbon credits.

So what is the story here?

Maybe there is a link between global warming (proven to be happening) and climate change (also proven to be happening) and maybe that link is Carbon Dioxide.

But the big push for carbon taxes has nothing to do with science and everything to do with profit.

I think the entire situation requires more investigation.

A lot of people disagree with me. This is actually one of the most disagreed upon topics I have ever had an opinion on.

#205 Sail Away on 07.09.20 at 11:46 am

#198 Show me the money on 07.09.20 at 10:49 am
#157 Sail Away on 07.08.20 at 10:14 pm
#107 Faron on 07.08.20 at 7:29 pm
#84 Sail Away on 07.08.20 at 6:20 pm
#59 Faron on 07.08.20 at 5:28 pm

I do love how small your ego is by the way. It probably almost fits inside Vancouver city limits. So easy to stroke. So supple. You really should show it off more.

————–

Aw, shucks. And here I thought you didn’t like me.

One thing that’s fun is being a baller. You know, when buying a car for your kid or paying for a group fishing charter or something, pull out a couple $10k straps of $100s and toss them on the table.

—————

That you need to buy ‘friends’ is not news to us. #Sad

—————

The truth about real life, amigo, is that situations where $ is involved is not where actual friends are made. May as well have fun.

And temporary friends can be a lot of fun.

#206 Stoph on 07.09.20 at 11:52 am

#170 Sue on 07.09.20 at 1:24 am

OMG
Can no one in Ottawa do math?
——————————————————————–
No need for math, don’t you remember that the budget will balance itself.

#207 SimplyPut7 on 07.09.20 at 12:02 pm

CERB ending in September.

Going to be a really difficult fall/winter for some people.

https://www.huffingtonpost.ca/entry/cerb-end-canada-coronavirus_ca_5f066fd9c5b63a72c33ce308

#208 Flail Away on 07.09.20 at 12:12 pm

@157

I think you meant…

“One thing that’s fun is being a babbler.”

Fixed it for you!

You’re welcome.

#209 Scott on 07.09.20 at 12:20 pm

@164 Canuck
Really? When was the last time climate change was mentioned on the news or talked about by the “centrist” Biden?

That same day, a poll released by Yale Program on Climate Change Communication indicated that although 82% of registered voters had not heard of the “Green New Deal,” it had strong bi-partisan support among voters. A non-partisan description of the general concepts behind a Green New Deal resulted in 40% of respondents saying they “strongly support”, and 41% saying they “somewhat support” the idea.[50]

Granted that poll was in the US. We may not be as progressive and forward thinking up here in Canada but I wouldn’t think we’re too far off.

#210 Piano_Man87 on 07.09.20 at 12:23 pm

That Bill Morneau always looks so happy and content, doesn’t he. You can tell he really believes in what he’s doing…

#211 Old Ron the Realtor on 07.09.20 at 12:23 pm

Old Ron the Realtor random thoughts:

With Royal Lepage promising a 4% increase in Toronto/GTA prices in 2020. (That is and average of $40,000 a year in Tax free money), everyone still wants to get into the housing game.

The only thing preventing the market from setting all time records is the supply of listings, not Covid19 worries.

Nobody (who is not a member of the Fraser Institute) gives a “rats behind” about the deficit. Folks care about their own bank account.

Housing in the GTA has long ago disconnected from the economy. Arguably when you look at the P/E ratios on the Stock Market, so have equities. 5 year [email protected] 2% makes it all possible.

Only history will tell us if we are in the new Weimar Republic or not. Speaking of which I have a “Cabaret” for sale.

#212 ronh on 07.09.20 at 12:33 pm

My leaf blower died. Justin to the rescue. Whew, that was close.

#213 Attrition on 07.09.20 at 12:34 pm


#193 Re-Cowtown on 07.09.20 at 9:48 am

The statement is correct as it stands. This is now mainstream political thought. Fact. – Garth
++++++++++++++++++++++++++++++++

Again, perfectly makes my point about cognitive dissonance regarding “Climate Change”. If it were a real issue, casting it as “mainstream political thought” would be unneccessary, any more than casting gravity as “mainstream political thought” would be.

You’re both right.

Cowtown: I’ve never come across simpler or more eloquent repudiation of the climate change cult. Ideas backed up by incontestable evidence don’t need support or campaigns to be true and widely agreed upon. Gravity. Brilliant.

Garth: so true that mainstream political thought has decided what is or isn’t true, and that’s all that matters. It’s not the ‘thing’ that is made true (in this case, so-called climate change), it’s the consequences of the thing that political though makes real. We’ll all suffer not from climate change, but from what they do to ‘protect’ us from it.

Just like Covid…imagine that.

#214 Don Guillermo on 07.09.20 at 12:41 pm

The statement is correct as it stands. This is now mainstream political thought. Fact. – Garth
****************************************

It’s the reaction to “Climate Change” that becomes highly political. AOC’s green new deal would be catastrophic.

Obviously it will never be enacted. – Garth

#215 Faron on 07.09.20 at 12:49 pm

#185 Re-Cowtown on 07.09.20 at 8:43 am

Whether dinos like you recognize it or not, climate change activism is now centrist. – Garth
++++++++++++++++++++++++
Without political labeling for consumption “Climate Change” ceases to exist.

The statement is correct as it stands. This is now mainstream political thought. Fact. – Garth

Among those who do climate science, there are no politics involved even though some scientists have made the mistake of getting active in politics. Or very little as saying “no/none/never” is a great way to be wrong. The evidence is dead obvious (for temperature change especially). Scientists are used to looking for subtle clues. With climate change there is no longer subtlety.

Regardless, by your logic, if you can’t see it, a thing doesn’t exist. Unfortunately, if science stopped there, we would all be driving wooden carts and gathering berries for survival. Not that that would be a bad state of affairs for humans overall, but definitely a major economic contraction!

Here’s a concrete example albeit with a much shorter timescale and a bit blunt. It’s based on personal experience.

You are waiting in line to cross a border into El Salvador. It’s a long line, but like all good unregulated capitalist countries, there are vendors and one is selling pollo con arroz plates for a handful of Lempira. The equivalent of about $0.75 US You are leaving the country so can stave off your hunger and get rid of a worthless currency. The food is delicious although the rice is a little cold.

Later that night you arrive in San Salvador and through your broken spanish, manage to communicate the location of your hostel to the taxi driver. He’s incredibly kind and tolerant and you work together to find your guest house. It’s a beautiful night. The stars are out, the air is warm and tropical. The guest house is a beautiful spanish colonial house with a central open courtyard that echoes your footsteps as you walk the tile second floor walkway. After a long day travelling by chicken bus across three countries, you are so happy to have a bed and a fan. You feel accomplished and fantastic for these small achievements.

At 3 AM you wake up, something is very wrong. The next 6 hours are a hell of concurrent vomit and diarrhea echoing through the house and waking your poor hosts. By 9AM you are a hollow shell. You check out and walk into the tropical sun and somehow manage to stitch together rides to La Libertad without getting mugged. You spend the next two days wasted and weak in a hammock recovering.

So, when I ate the bacteria I couldn’t see it, feel it, taste it, smell it or hear it. The “hearing it” came later :-(. But, the bacteria was certainly real and from then until 3AM was very active and undergoing an exponential, physical process of growth. A couple hundred years ago, the illness would have been a mystery and could have been chalked up to humors or a spell or the alignment of the planets and stars. We know that bacteria exist and existed on my food because of science. We now know that some processes aren’t directly sensible to humans even though they are real and amplifying. If I knew when I ate the rice that it was contaminated, I would have taken my ciprofloxacin (developed through science) and partially staved off the misery. By the time I took it at 3AM, it was too late to stave off the misery, but I was glad I had it!

Garth, please correct me if I’m wrong in the below or feel free to delete.

BTW. I once googled Garth and did some reading about him because I was curious about how he got where he is. Experienced, tolerant, witty fiscally conservative, but deeply caring about his country and the people in it. He seemed hard to classify as simpleminded folk like myself are wont to do. Turns out, among many things, Garth once dabbled in green energy business. I have a sneaking suspicion he sees climate change as a problem for humanity. I doubt he and I would agree on how it should be solved, but that’s politics and that kind of disagreement is healthy. But disagreeing that it’s a problem doesn’t so anyone any good at this point but delay action and prolong the eventual pain.

#216 Faron on 07.09.20 at 12:53 pm

#203 Ace Goodheart on 07.09.20 at 11:33 am

With all due respect Ace, you don’t know what you are talking about when it comes to atmospheric circulation.

Now I know how well-educated finance types must feel when I blather about technical indicators…

#217 Faron on 07.09.20 at 12:59 pm

#203 Ace Goodheart on 07.09.20 at 11:33 am

#193 Re-Cowtown on 07.09.20 at 9:48 am

The “Climate Change” debate is very complicated.

I like to play “follow the money” whenever I engage in this debate. It is helpful to understand why the various players are making the arguments that they make.

“Global Warming” is a proven fact. If you put CO2 in the atmosphere, it accumulates at the poles due to the Earth being a spinning ball and spinning balls having a certain characteristic where items that are caught in their atmosphere usually end up at either pole, depending on where they start out.

This is really funny!

#218 belly rubs on 07.09.20 at 1:09 pm

#175 Kate on 07.09.20 at 5:38 am
Had electrician over to fix sonething. Said he is swamped with work.. installing hot tubs. Cerb + lockdown apparently good for some industries

We’re up 900%. Agri/gardening supplies. #1 SKU for many retailers.

#219 Sail Away on 07.09.20 at 1:16 pm

#202 Gravy Train on 07.09.20 at 11:30 am

Savings after one year = $1,434.29, so payback = 10.4 years. After-tax nominal rate of return = 9.6%. Sail Away claims to have a better ROR than that this year! :P

—————–

Haha, absolutely.

Faron’s tracking my purchases so he could give you a partial snapshot- one thing, though, Faron: Apr 28 was the buy date for the ones you’re tracking, not the 29th.

30%? 40%?

#220 jess on 07.09.20 at 1:20 pm

more reasons on onshore

The visit was just one glimpse into what European authorities say is a flourishing trade in counterfeit, substandard, and improperly documented products intended to protect people during the COVID-19 pandemic. Helping it all along is a parallel trade in counterfeit European quality and safety certificates, as well as gray market documents issued by companies that are not authorized to certify personal protective equipment (PPE).

These documents, while not technically illegal, are often misleadingly designed to look like they are conferring certification that the equipment conforms to strict European health and safety standards.

https://www.occrp.org/en/coronavirus/the-players-and-the-paperwork-romanias-trade-in-black-market-masks

https://www.occrp.org/en/coronavirus/questionable-paperwork-lets-fake-and-faulty-masks-flood-europe

How the Mafia infiltrated Italy’s hospitals and laundered the profits globally
Financial Times | Jul 9, 2020 at 6:00 AM

=============
https://projects.thestar.com/climate-change-canada/british-columbia/
atmospheric rivers and climater change wider and longer more severe

Hail damage in northeast Calgary hits $1.2B, fourth most costly natural disaster in Canadian history
Author of the article:
Jason Herring, Amanda Stephenson
Publishing date:
The massive hailstorm that struck Calgary and area on June 13 is officially the fourth-most-expensive natural disaster in Canadian history, with insured damages pegged at almost $1.2 billion.

According to Catastrophe Indices and Quantification Inc. (CatIQ), the storm — which shredded siding and pounded cars, particularly in hardest-hit northeast Calgary — is the costliest hailstorm in Canadian history. In terms of all natural disasters, it is surpassed only by the 2016 Fort McMurray wildfire ($4 billion), the ice storm that walloped Eastern Canada in 1998 ($2.3 billion) and the 2013 flooding in southern Alberta ($1.7 billion).

https://calgaryherald.com/business/local-business/june-hailstorm-the-fourth-most-expensive-natural-disaster-in-canadian-history/wcm/0a57457a-894d-4140-9ca7-4d3fb59dc729/

#221 n1tro on 07.09.20 at 1:24 pm

#165 cuke and tomato picker on 07.08.20 at 11:19 pm
I believe that the government should only give money to the mentally ill, the physical handicap, and single mothers with children.
————-
Yes, Yes, Hell No.

If it isnt obvious why, the first 2 can’t be chosen so they deserve help. The last scenario is a choice usually predicated by other bad choices.

#222 Don Guillermo on 07.09.20 at 1:29 pm

#212 Don Guillermo on 07.09.20 at 12:41 pm
The statement is correct as it stands. This is now mainstream political thought. Fact. – Garth
****************************************

It’s the reaction to “Climate Change” that becomes highly political. AOC’s green new deal would be catastrophic.

Obviously it will never be enacted. – Garth

********************************************
Hope you’re right. I didn’t fact check post #208 Scott but it is concerning.

#223 crowdedelevatorfartz on 07.09.20 at 1:31 pm

Enough about the budget, climate, and comets.
Lets get to the really important stuff.
Johnny Depp’s slander trial.
The dirt is sticking to everyone after only two days of an expected three week trial.
Awesome.

#224 Sail Away on 07.09.20 at 1:36 pm

#214 Faron on 07.09.20 at 12:53 pm

Now I know how well-educated finance types must feel when I blather about technical indicators…

—————-

Yep

#225 Faron on 07.09.20 at 1:57 pm

#218 Jess

Actually, the press’s tendency to pin single events on climate change is a distraction. This kind of science, called detection and attribution, is difficult to do and for now only works on regional scale temperature events and large scale precip events. The press puts climate scientists in an awkward position. Here’s the sequence:

1) big weather event
2) press loses it and calls climate experts for ALL THE ANSWERS
3) we can’t, with any integrity, say one caused the other until we’ve done months to a year’s worth of analysis.
4) so, we have to waffle and say it’s consistent with climate change
5) reporter takes that story and publishes a headline like HAILSTORM CAUSED BY CLIMATE CHANGE
6) we in science land cringe
7) a year later the paper comes out or not if there was no firm link
8) press ignores the paper.

Actually 8 isn’t always true.

#226 Andy on 07.09.20 at 2:05 pm

HOLY CRAP!

Trudeau just imploded. This will destroy him.

Total corruption. $250,000 in kickbacks to his mom from this charity. Yikes!

https://www.cbc.ca/news/politics/margaret-justin-trudeau-we-charity-1.5643586

Garth, I am normally cautious like you on this topic. Not now.

This is going to bring in another party, very soon.

#227 Don Guillermo on 07.09.20 at 2:13 pm

#221 crowdedelevatorfartz on 07.09.20 at 1:31 pm
Enough about the budget, climate, and comets.
Lets get to the really important stuff.
Johnny Depp’s slander trial.
The dirt is sticking to everyone after only two days of an expected three week trial.
Awesome
************************************

Dailey Mail says Johnny Depp had cocaine, whiskey and pills on a table before arguing with ex Amber Heard over his alcohol and drug abuse. I think they’re over reacting. The whiskey looks watered down.

#228 BillyBob on 07.09.20 at 2:13 pm

#140 IHCTD9 on 07.08.20 at 9:12 pm
“[…] My last hydro bill was under $130.00 for like 950 [kWh] – that’s early 2000s pricing.[…]” Got you beat! My last two-month power bill was $22.74 for 2,032 kWh—and with 31 kWh banked. We’re not allowed to sell them more than we buy; otherwise, they’d have to write us a cheque. :P

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

Uhh what?! What consumes 2,032 kWh in two months? Just curious – the average electricity usage per month in UK households is about 350kWh. You’re running about 3X that. Electric cars? Swimming pool heater? Arc welder?

My own utility presently charges 14.11p (about 24c CAD) per kWh. So your bill here in the UK for 2,032 kWh would be about $490 CAD for two months.

$22.74? No wonder Ontario is absolutely drowning in debt hahaha!

#229 Frank Santiago on 07.09.20 at 2:14 pm

Bill Morneau is always smiling because of his family’s 20 million plus pension consulting business. I would not be surprised of all the connections he will get after he is no longer in office.

Also, where is Jaen Chretien and Paul Martin, the so called architects of slaying the national debt and deficit. They are missing in action. They are not proud of their golden boys, Trudeau and Morneau doubling of the Canada national debt in 4 years. What a great accomplishment with the lowest Canadian interest rates in history. What a bunch of financial train wrecks the Liberals federally now, Ontario, BC and other provincial Liberal governments.

#230 Sail Away on 07.09.20 at 2:35 pm

#202 Gravy Train on 07.09.20 at 11:30 am

Sail Away claims to have a better ROR than [9.6%] this year! :P

—————

Yo Gravy, here- this’ll simplify things. Following is my post from March 25, reflecting my buying at that time. If you look back at the March 15-30 posts, you’ll see I was quite excitedly buying hand over fist.

Still skeptical? The ROR is juuuust slightly better than 9.6%. If you want the exact numbers, Faron will help you out from his dbag portfolio.

As always… no revisionist history. And yes, I am feeding the corvids daily.

*********

#4 Sail away on 03.25.20 at 3:35 pm

Wow. Wonder if I actually entered at the absolute bottom? This could be epic. If so, I will be forever grateful to the Corvid and will feed ravens, crows and jays daily. Watch out Warren.

#231 Re-Cowtown on 07.09.20 at 2:35 pm

#203 Ace Goodheart on 07.09.20 at 11:33 am
#193 Re-Cowtown on 07.09.20 at 9:48 am

The “Climate Change” debate is very complicated.

I like to play “follow the money” whenever I engage in this debate. It is helpful to understand why the various players are making the arguments that they make.

“Global Warming” is a proven fact. If you put CO2 in the atmosphere, it accumulates at the poles due to the Earth being a spinning ball and spinning balls having a certain characteristic where items that are caught in their atmosphere usually end up at either pole, depending on where they start out.

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

Spinning balls????? There’s no evidence that the CO2 concentration at the poles is higher.

If you want to research something, look at CO2 atmospheric residence time. You’ll find a clear separation in research results.

Pre- Global warming hysteria (1960’s to early 1980’s) the CO2 residence time was estimated to be around ten years, which means that excess CO2 is scrubbed out in the blink of an eye and is irrelevant to Global Warming. French nuclear tests in the 1960’s support the ten year residence time with nuclear isotopes.

Post Global Warming hysteria (1990’s to present), the CO2 residence time is magically extended to 100 years. This is needed to match up with the IPCC computer models.

If the IPCC used a 10 year time instead of 100 year time value in their computer models the Climate crisis disappears.

Personally, I’d trust the data from pre-hysteria days as the scientists were just trying to answer a question. Their paycheques didn’t depend on the answer.

#232 Faron on 07.09.20 at 2:37 pm

#204 Sail Away on 07.09.20 at 11:46 am

“And here I thought you didn’t like me.”

Of course I like you. You are the Yang to my Yin. You and I are evidence that we are further removed from the heat death of the universe than some like to think.

Also, did you like how so gave you the white side and me the black to head off any claims of implicit racism? Or did I just make a racist statement?

Sincerely, enjoy your hunnabands. I’ll enjoy my echo that now has a hole in the exhaust and sounds like a murder hornet. Except for those effing seats… And the lack of dog mode… Life is hard.

#233 n1tro on 07.09.20 at 3:07 pm

#223 Faron on 07.09.20 at 1:57 pm
#218 Jess

Actually, the press’s tendency to pin single events on climate change is a distraction. This kind of science, called detection and attribution, is difficult to do and for now only works on regional scale temperature events and large scale precip events. The press puts climate scientists in an awkward position. Here’s the sequence:

1) big weather event
2) press loses it and calls climate experts for ALL THE ANSWERS
3) we can’t, with any integrity, say one caused the other until we’ve done months to a year’s worth of analysis.
4) so, we have to waffle and say it’s consistent with climate change
5) reporter takes that story and publishes a headline like HAILSTORM CAUSED BY CLIMATE CHANGE
6) we in science land cringe
7) a year later the paper comes out or not if there was no firm link
8) press ignores the paper.

Actually 8 isn’t always true.
——————
You forgot a few more steps.

9) Idiots like Greta and her parents (purposely?) take step 5 and run a narrative of doom and gloom
10) Idiot children and their adult parents protest in front of city hall skipping school
11) Majority of climate scientists stay silent as to not harm their research funding.
12) The scientists that do come out are lumped in with the climate/science “deniers”

Let me know if I missed any steps.

#234 Sail Away on 07.09.20 at 3:18 pm

#230 Faron on 07.09.20 at 2:37 pm

I’ll enjoy my [Toyota] echo that now has a hole in the exhaust and sounds like a murder hornet. Except for those effing seats… And the lack of dog mode… Life is hard.

—————

Tesla Dog Mode is the best. Although the pup did chew a hole in the passenger seat at the grocery store the other day. That’s kids for ya… At least he was comfortable.

I could send a hunnaband your way for another couple Echos if it would help?

#235 Barb on 07.09.20 at 4:10 pm

What a delightful dilemma, doggie.
Bet he had fun!

Oh, and I bet our dear host is almost ready to suggest to “certain” posters on the blog that they should just get a room. Together.

But Garth is too dignified for that.
So I’ll suggest it.

#236 David Hawke on 07.09.20 at 7:05 pm

I voted for Preston Manning also!

Will never vote for the sham con party as they’re all Her Harper clones and he illegally STOLE the vote from expats!!!

#237 Jerry Garthman on 07.10.20 at 2:34 am

#6 Bartman. My wife and I received $900 between us and we donated the money to Spencer Fernando who speaks aggressively online for Canada to ‘out’ Trudeau on every crime committed. Money well spent in my opinion. There aren’t enough people with a voice willing to speak for Canada.

#238 Buck Turgeson on 07.10.20 at 9:36 am

I agree with some earlier commenters, a consumption tax is the way to go. Lessen personal income tax for all but boost tax on purchases. People will still buy whatever they want, but bitch about it little more.