Prepare

Chrystia. Justin. Taxes. A trillion in debt. Biden-Trump mashup. Second wave, maybe? Mortgage deferral cliff. Millions on the dole. BLM in the streets. Cops defunded. Statues falling. Vigilantes. Masks protests. Historic deficits. 847,659 deaths. Closed borders. And a real estate boom. Oy, whadda world this is.

The afflicted believe governments should support them. The paleos think commies are taking over. The left-right divide is gaping just like the wealth disparity. The pandemic came along and crushed the indebted, the unprepared and the uninvested. The same crisis propelled markets as stimulus flowed and portfolios plumped. Now it’s all political. The rest of 2020 will be even more arresting than the first eight months.

Determined not to waste this crisis, the prime minister punted his Bay Street finance minister, installed a lefty journalist, shut down Parliament and is preparing a ‘go big’ plan for a green new deal. Details in four weeks. Then a badass budget. Meanwhile the USA is in the grip of a presidential contest that resembles a brawl. And the virus continues.

Last week this pathetic blog naively asked, how to prepare? How to ready for a world that promises more government, more tax and greater wealth distribution? As you know, most citizens are pooched and expect politicians to bail them out. They continue to save nothing while over-spending on real estate. Theirs is a world of hopium. And they all vote. Yikes.

Some suggestions…

Emergency fund – a perennial tenet of financial advisors, but does it really make sense to have enough money for six months of living expenses sitting in a HISA paying one-half of one per cent (taxable)? Ah, no. A better option is to ensure you have a personal line of credit established with your bank or CU, and invest that emergency money in your TFSA in some nice, cheap, diversified ETFs.

The LOC costs zero to set up and zero to maintain. The only interest payable is on the money actually drawn from the line, and odds are an emergency will never occur. If one does, just look needy and the feds will send you money!

Refinance debt. This is the time. Rates are in the ditch and will stay there for months. Maybe a year or two, until inflation starts being a threat. Lock in the mortgage at less than 2%. Don’t be a cowboy and go variable to save a few thin basis points. If an existing mortgage is 3% or more, talk to your lender about blending and extending the loan. This will reduce the overall rate, push out the renewal date and avoid a mortgage break fee.

Capital gains. Take them soon. Most observers (this blog included) think the odds are high T2/Chrystia will up the inclusion rate from 50% to maybe 75%. That’s a mother of an increase. Today half of gains are tax-free with the other half added to your income and taxed at your own marginal rate. So upping this to three-quarters is punitive.

The amount of revenue the tax raises is inconsequential in the face of a $350 billion annual deficit, but it’s a political move designed to message those with no investments (but a house) that the 1%ers are being shellacked. While it’s possible the change could be retroactive to the beginning of the year, it’s doubtful, given a budget won’t come until October at the earliest. We’ll see.

Or you can wait until Erin O’Toole is prime minister. Ha.

Other portfolio moves: keep at least 20% in US$-denominated assets. Once the American election is done and the virus starts to fade, the greenback is likely to appreciate while our balance sheet is weighted down by public spending. The loonie could weaken – but it’s always a good idea to hedge against our currency.

Also keep your registered accounts – TFSA, RRSP, RESP – topped up. Growth within them is tax-free with no worries about a rising capital gains inclusion rate. The tax-free account especially is a valuable tool for now and forever since income can flow without affecting your marginal rate. Never put a brain-dead GC in there, but focus the TFSA instead on equity-based ETFs. Lend your spouse money for his/her account. And your adult children (so long as they give it back).

Income-splitting: the advice oft-stated here is repeated. Establish and fund a spousal RRSP if one of you makes substantially less. Set up a spousal loan to give him/her/them/its (we are a pronoun-sensitive, modern blog) money to invest since the rate is ridiculous (1%) and no attribution is involved. Make the less-taxed spouse the investor while the higher-earner pays family expenses.

Take the cash: open an RESP for your kids and get a 20% grant from the feds each year (some provinces also give money). Apply for and enjoy CPP payments starting at age 60. It’s not worth waiting until later since  years of monthly payments can be stuffed into growth assets in your TFSA.

Have a mortgage at less than 2%? Then stop aggressively paying it off. Investment portfolios have been returning three times this amount for decades, so direct the cash there, building net worth faster (and establishing valuable liquidity). Always invest via a diversified and balanced portfolio. No individual stocks (too much volatility). No mutual funds (rapacious fees). If you fear a second wave of Covid,  quietly stock up now. Each week double the staples you buy at the supermarket. The drug store. The pet food place.

Finally, if you can’t easily pay your mortgage or the deferral is ending and your job is iffy, list the place. There’s an insane, FOMO-fuelled real estate bash going on, a better price may never arrive. Besides, you’ll trash debt, free up liquidity and shed ownership costs. By the way, rents are going down and tenants are now driving the bus.

Gold and guns? Sorry, wrong blog. Try this.

 

201 comments ↓

#1 Born in Hamilton on 08.30.20 at 12:12 pm

A shout-out to Mr Warren Buffett of Omaha, Nebraska. 90 years young today.

#2 Apocalypse2020 on 08.30.20 at 12:17 pm

65 Days to Global Catastrophe.

PREPARE

#3 Yukon Elvis on 08.30.20 at 12:19 pm

Welcome to Trudopia. Resistance is futile.

#4 Crazy Jim on 08.30.20 at 12:31 pm

Don’t just buy ETFs because once you start selling them you’ll be gouged at $10 per trade.
Better option would be to buy a D class mutual fund that trade for free. Some are actively managed and will do better during volatile times.

#5 Apocalypse2020 on 08.30.20 at 12:37 pm

PREPARE

#6 NSNG on 08.30.20 at 12:43 pm

@ TurnerNation,

I suggest you start adding Covid lawsuits to your dispatches (this might actually be a very lucrative blog idea for someone). I believe this is from where the rebel alliance mounts its comeback

Here is one example. These should start to gain momentum as civil rights and freedoms continue to get crushed (and yes, this one is a bit frivolous but as people get angrier and more frustrated, these should get more pointed):

https://edmontonjournal.com/news/local-news/city-of-edmonton-facing-565-million-lawsuit-over-covid-19-mandatory-mask-bylaw

#7 Flop... on 08.30.20 at 12:46 pm

“Capital gains. Take them soon. Most observers (this blog included) think the odds are high T2/Chrystia will up the inclusion rate from 50% to maybe 75%. That’s a mother of an increase. Today half of gains are tax-free with the other half added to your income and taxed at your own marginal rate. So upping this to three-quarters is punitive.”-Thor Turner.

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

This is what is supposedly coming down the pipe to pay for all this debt in November in Britain.

*Raising capital gains taxes.

*Raising corporate taxes.

*Real estate not unscathed, as second home owners required to pay capital gains at the same rate they pay income tax.

*Stop deep frying every food they can get their hands on including Mars Bars…

M46BC

https://www.dailymail.co.uk/news/article-8677749/Britain-faces-biggest-tax-rises-generation-pay-coronavirus-bailouts.html

#8 Luddite on 08.30.20 at 12:47 pm

Wow, early a.m. addition! Long time reader, first time caller, thanks for the great advice, appreciate all the wisdom and humour everyday!
Headed to the cabin this long weekend, nothing better than reading your blog while looking out at the lake, thanks GT, Dorothy and Bandit.
Warmly Luddite

#9 Jeff on 08.30.20 at 1:01 pm

Line of credit for an emergency fund sounded fine pre-COVID

Not anymore.

#10 Last of the GenX on 08.30.20 at 1:09 pm

“Capital gains. Take them soon. Most observers (this blog included) think the odds are high T2/Chrystia will up the inclusion rate from 50% to maybe 75%. ” –

Do we expect the capital gains to be raised for this year, in the upcoming September budget? If so, wouldn’t it be retroactive – and therefore it doesn’t matter if we do it before the budget is presented or after? I am not a tax expert, but it can’t be fair to raise the rate retroactively this late in the year, after folks have already made investing decisions based on the rules that are currently in place.

As stated. – Garth

#11 MF on 08.30.20 at 1:14 pm

So much for eschewing debt all these years when these idiots get a chance to “lock in” at a super low rate.

Buy that house. These clowns have no other option other than unending bond buying to surpress interest rates.

MF

#12 Dogman01 on 08.30.20 at 1:15 pm

#54 MF on 08.29.20 at 4:49 pm

The positives of immigration are there. You just have to look.
—————————–
Of course there are. I am arguing it needs to be tied to unemployment rate, it is detrimental to working Canadians to bring in more workers when our unemployment rate is high. This practice keeps Canadian wages lower.

Yes – I suspect Globalization (exporting production and importing unemployment) and Technology (productivity) have a larger impact then Immigration

GDP – yes adding more people increases GDP, the pie gets bigger, India’s GDP is larger than Canada, but I certainly would not want to be in the 50th percentile of India’s workers. What is key is the how the pie is disturbed, particularly to the bottom 80%.

TFW and the myth Canadians will not work those jobs; Canadian Labour supply and demand (the market) is being corrupted by “dumping “ via the world “reserve army of labour”. I have seen Canadians work in isolated locations, in -30 temperatures doing very hard work, but the Key is they get paid a lot to do this hence they are willing. What they will not do is work for poor wages in poor conditions for poor employers…..only the most desperate will do that hence we import TFW. Those industries should compete in the Canadian labour market as they sell into the Canadian marketplace. This is simple exploitation and Canadian labour market wage suppression going on.

“Canada admitted 313,580 immigrants in 2018/2019, one of the highest levels in Canadian history. The number of non-permanent residents rose by 171,536 in 2018/2019, the largest increase in the country’s history. Sep 30, 2019” – https://www150.statcan.gc.ca/n1/daily-quotidien/190930/dq190930a-eng.htm

I call that a Small City, I will stick with Mass Immigration, as descriptive.

Going to work at the local factory with no education is an outdated model from a bygone era.

– I tend to disagree, proper trade policies and Industrial strategy would ameliorate this. The Economy should serve society not the other way around. It can be shaped.

A significant portion of our fellow citizens could not survive by “coding”. Many, many people are hardworking but totally incapable of doing much more than the factory type labour. Farming this type of work out overseas is depriving a large sector of our society of the ability to function, Hence talk of UBI.

What Canada needs is proper trade policies and Industrial strategy, then a decade of wage inflation, creating a society where the highly educated young are in demand and the less capable can make a decent living.

or living here become “nasty, brutish and short” for many.

#13 Robert Ash on 08.30.20 at 1:18 pm

Hey Maybe O’Toole will be PM.. Ha… Sadly this is the case with our CCP of Canada. I am sure Erin T, is a capable person, and pragmatic, etc.. Lot’s of experience… but is he a good match against JT…the two standing together look like a Family picture with Grampa… I don’t think that will resonate with the Mills… My Hopium is for a bit of Fiscal conservativism, and live and let live… where is the common sense.

#14 Bill on 08.30.20 at 1:19 pm

Fed “inflation targets dont matter” interest rates to be kept near zero for as long as humanly possible. The taps are full tilt and will continue.
Desperate measures and uncharted waters indeed. This is a precious metals markets dream.
Ill keep mine for a little while longer thanks. Correction are embraced… bulls hate riders.

#15 Dirty Dan on 08.30.20 at 1:34 pm

Remember when you posted some statistics on how the stock market grows under Democratic Presidents vs Republican Presidents, and then your sycophant buddy Dolce Vita chimed in with more unsubstantiated drivel?

It turns out someone decided to dig deeper, and it is a balance between president and house that was the most beneficial.

https://finance.yahoo.com/news/happens-stock-market-biden-wins-150106858.html

Aleksandar Tomic, associate dean for strategy, innovation and technology at Boston College, says: “It’s not about whether Biden wins or Trump wins. It’s also about who takes the Congress; if the Senate or House or both go Republican, then that could frustrate Biden’s agenda quite a bit.”

#16 Dirty Dan on 08.30.20 at 1:40 pm

DELETED

#17 Andrewski on 08.30.20 at 1:41 pm

Hey Garth, thanks for the continued and reiterated pro bono advice.

Those who heed live a way less stressful life.

Once again, People Don’t Plan to Fail, They Fail to Plan!

#18 A broken hallelujah on 08.30.20 at 1:45 pm

#2 Apocalypse2020 on 08.30.20 at 12:17 pm
65 Days to Global
….

Sept 23 is sooner than that…..

#19 Classical Liberal Millennial on 08.30.20 at 1:52 pm

Garth or Blog Dogs,
We have about $20k sitting in a HISA. It’ll be used for a vehicle and/or a vacation when it’s safe to do so. Either of those could be a year away still. Should I stuff that into my WealthSimple TFSA instead and simply withdraw when needed? I have the contribution room and my wife and I both contribute to DB pension plans.

#20 MF on 08.30.20 at 1:52 pm

6 NSNG on 08.30.20 at 12:43 pm

Lolol rebel alliance.

It’s the Jabba the Hutt that you are responding to that is the problem.

MF

#21 David on 08.30.20 at 1:54 pm

I own Canadian Bank shares in a $US investment account account through the Canadian TD Waterhouse. The shares were purchased on the New York Stock.
I received the first quarterly dividend, and there was no USA withholding tax applied to the dividend.
Will these same shares be eligible for the Canadian dividend tax credit ?

#22 mike from mtl on 08.30.20 at 2:00 pm

The middle class always pays – of you have to ‘work’ to pay the bills regardless of the amount; you’re middle class.

Example Apple having a trillion dollar mountain of treasures stashed in Ireland and the Fed pursing their debt (bonds) is okay apparently. Life has never been as good to be in the billion+ corporation.

Still don’t agree on taking out a LOC, nothing wrong with having say 10k in cash on hand. Can be used for deals that arise or emergencies, not having to pay any bank interest on that.

#23 Stone on 08.30.20 at 2:12 pm

#18 David on 08.30.20 at 1:54 pm
I own Canadian Bank shares in a $US investment account account through the Canadian TD Waterhouse. The shares were purchased on the New York Stock.
I received the first quarterly dividend, and there was no USA withholding tax applied to the dividend.
Will these same shares be eligible for the Canadian dividend tax credit ?

———

Garth: Buy ETFs, not individual stocks.

Peanut Gallery: Hey Garth, give me advise related to individual stocks.

#24 Dirty Dan on 08.30.20 at 2:17 pm

DELETED

Go away. – Garth

#25 Dr V on 08.30.20 at 2:19 pm

“Capital gains. Take them soon. Most observers (this
blog included) think the odds are high T2/Chrystia will up the inclusion rate from 50% to maybe 75%. ” – Garth

Is it really that simple? Seems to me you have to take into account your current tax rate vs your tax rate when you may withdraw the funds at a later date. If you’re still working, taking a $10k gain may result in tax on $5k at a high rate, whereas later it may be a much lower rate on $7500.

Also, isn’t the gain apportioned to each individual unit
of the fund? if you had a $10k initial investment, and its now $20k, and you sell $10k, that’s a $5k gain, with
the remaining $10k still containing a $5k gain.

I did recently take some gains, and may take some more depending on the markets in the next few weeks.

#26 the Jaguar on 08.30.20 at 2:28 pm

That sun worshipping dog must have been schooled by a cat.
Presidential brawl? Looks more like the sun setting on Nancy Pelosi and the gang that couldn’t shoot straight after the RNC this past week. How about that Melania? Taking a play out of Fidel’s book and showing up in military fatigues to make her speech. An outfit like that says one thing, which is ” We don’t intend to take any prisoners”. Mercy.

Good advice here today on how to prepare for the bumpy road ahead. Hopefully those mean old Banks are battle ready and staffed up with people who know how to deal with a line up out the door of over indebted, hand wringing peeps who haven’t a clue how they buried themselves in such a financial mess. Gird your loins, Bankers. Take a number, peeps.

About this last piece of advice from Garth, ‘If you fear a second wave of Covid, quietly stock up now. Each week double the staples you buy at the supermarket. The drug store. The pet food place.’, I think he inadvertently left out the liquor store. They can barely keep the shelves stocked at the one around the corner from me.

#27 Upenuff on 08.30.20 at 2:32 pm

Excellent Sunday read Garth!

Thanks,

Upenuff

#28 BS on 08.30.20 at 2:40 pm

“Chrystia. Justin. Taxes. A trillion in debt. Biden-Trump mashup.”

Looks like the election is Trumps to lose. I guess people in the US don’t actually like Marxism. Lets hope Canadians smarten up as well.

DONALD TRUMP is on course for a clear victory in the US Presidential election after he opened up a three point lead over Joe Biden in an exclusive poll

According to the latest monthly Democracy Institute (DI)/ Sunday Express poll President Trump has 48 percent of the popular support over former Vice President Biden’s 45 percent.

In the key swing states the gap is even bigger with 49 percent for Trump to 42 percent for Biden giving the incumbent US President an almost unassailable seven point lead.

https://www.express.co.uk/news/world/1329041/US-election-2020-donald-trump-joe-biden-latest-polling

#29 crowdedelevatorfartz on 08.30.20 at 2:53 pm

Well.
It seems the Canuck Banks are preparing for a slow down………

https://ca.reuters.com/article/businessNews/idCAKBN25O1EB

#30 Linda on 08.30.20 at 2:54 pm

Good advice to stock up on non-perishables. If the supply chain was disrupted during the warm weather months, think about how it will react to crappy winter weather conditions. Think about standing in line to get into a store to buy stuff you actually use during crappy winter weather conditions. Then think about the possibility the stuff you went out to get isn’t in stock, or is limited to one per customer. No need to go crazy, but if you know you’ll use stuff up in X amount of days or weeks & have the space, having a replacement unit to hand would be smart, especially if stock is slow to come in.

#31 FreeBird on 08.30.20 at 2:55 pm

FYI for renters and landlords:

https://www.ontario.ca/page/renting-ontario-your-rights?utm_source=N9597.279382DBMMAGNETINTELL-1265&utm_medium=display&utm_content=136034896&utm_campaign=ResidentialRentalChanges-Q2-2020

#32 Looking up on 08.30.20 at 2:56 pm

22 mike from mtl on 08.30.20 at 2:00 pm
The middle class always pays – of you have to ‘work’ to pay the bills regardless of the amount; you’re middle class.

Example Apple having a trillion dollar mountain of treasures stashed in Ireland and the Fed pursing their debt (bonds) is okay apparently. Life has never been as good to be in the billion+ corporation.

Still don’t agree on taking out a LOC, nothing wrong with having say 10k in cash on hand. Can be used for deals that arise or emergencies, not having to pay any bank interest on that.

———————

I agree with Garth. Terrible idea to have 10000 in cash doing nothing. If you have a mortgage or any other debt you are in fact paying interest on that 10000 because you could have potentially saved interest by putting it toward the mortgage rather than wait for an emergency whereby you could draw from a cheap heloc if you really had to. Also you wouldn’t pay interest on that LOC unless you actually used it. I can’t believe some financial planners still advocate putting 3 months of cash aside for an emergency rather than setting up a cheap LOC.

#33 Moses71 on 08.30.20 at 3:03 pm

#13–Trudeau is a couple years older than The Toole lol

#34 FreeBird on 08.30.20 at 3:09 pm

Lucky for Chrystia’s boss he’s not part of 1% and can well afford to prob ensure his (and family’s) money is safe from her new tax rules. Maybe he/they will voluntarily pay more to inspire the change he’s selling (forcing) through his standard issue leader’s black (I’m sure medically certified) mask. It’s all about WE right?

Is there a point to voting at next prob waste of tax payer’s money and time election? Just asking. Good to know I’ll help fund it too.

#35 Bill on 08.30.20 at 3:13 pm

DELETED.

Never post a Laura Lynn video again. – Garth

#36 George S on 08.30.20 at 3:14 pm

Another great blog post.

There are key words to listen for on the news. If you ever hear “novel” and “virus” in the same sentence it is time to quietly stock up on a few essential things so you can not go to the store for a few weeks until you find out what is going to happen. Not go crazy and become a hoarder but get a couple of months worth of stuff and a couple of bottles of hand sanitizer.

I have always found the term “High Interest Savings Account” to be quite funny. I guess compared to other bank offerings it may be “High Interest” but i am sure that bank staff and financial “advisors” must have a special class in their weekend financial advisor course where they learn how to not start laughing every time they say HISA.
We have always had a LOC for emergencies and after having enough equity in our house, a mortgage backed LOC (I guess a HELOC). You have to be careful though because of the temptation of all that money sitting there.

#37 Dolce Vita on 08.30.20 at 3:16 pm

Excellent Garth.

So much more uncertainty to come. Keep letting us know your thoughts, much appreciated.

Singing Auld Lang Syne to 2020 cannot come soon enough.

———————–

#15 Dirty Dan

Learn about Statistical Significance. Seek substantiated and accepted public domain sources, from the Left, Right & in between. Somewhere in the latter 3 lies the TRUTH.

Life will be clearer, less of a fog. There will be balance, solace even..freedom from narratives.

#38 Flop... on 08.30.20 at 3:24 pm

Takes me a while to digest stuff offered up on this blog.

A few weeks ago Garth asked when will the virus be over for you, in a roundabout way.

A few people mentioned travel, I stayed silent as it seems like a far off dream, but then I needed something to look forward to as a way to block out the negative vibes attempted to be foisted upon me

Turner Travel Agency has helped me out before by planting a seed that saw a much enjoyed trip to Monterey, California.

After Garth wrote the post I started thinking about a trip that was supposed to be one of the first ones taken upon retirement.

You know the one you think about while grinding it out at work?

Where would I go right now if I was allowed to travel,
and it doesn’t have to be that extravagant or exotic?

I like to spend the winter on the coast and the summer in the mountains.

Some people have been California Dreaming, ever since I arrived in North America I’ve been Colorado Dreaming.

Been fortunate enough to travel a fair whack of the west but never got to Colorado before, this virus thingy has made me want to bump this trip up in my priorities.

Yukon, B.C, Alberta, Washington, Oregon, Idaho, Wyoming, Montana, California and Northern Utah all tucked away neatly under the road travel belt.

Wife is off for the summer, so multiple times we have hit the road for a couple of months to check out the great towns cities and national parks of the west by road.

What, I was supposed to pump out kids and by a house?

Missed that phone call in life.

Was supposed to go to Texas for Spring Break, Didn’t get to go to Washington State camping this summer, so the current score is…

Virus 2

Flop 0

When my wife and I get 2 weeks in southern Utah hiking the red rock canyons and a month in Colorado camping at 12,000 feet, I will be even.

If we don’t get to go anywhere at Xmas, then I’ll be down 3-0.

My travel hole that I’ll have to big out of will be deeper than some of the canyons I want to explore.

Travel For Soul Always.

TFSA…

M46BC

#39 Dolce Vita on 08.30.20 at 3:29 pm

“Gold and guns? Sorry, wrong blog. Try this.”

I clicked on: Try this.

Very funny.

—————————-

June 2020 GDP encouraging, +6.5% from May. Still, June 2019 vs. June 2020 we are still down -7.8%.

Hole being filled in by The Little Economy that Could (and Does)…slowly but being filled in.

Recovery will not come from Exports with other Developed Nations in a similar or worse rut in terms of GDP.

Recovery will come from the CDN CONSUMER, too busy salting it all away right now. As in all recessions that too will come to pass and spending will resume. By when is the question.

If only we knew.

Garth, your estimate of 2021 as good as any I have read. Myself, I think it may take longer as FEAR of that Damn Virus will take awhile to extinguish. It took them a few years after 1918. Hope we will do better than them.

#40 FreeBird on 08.30.20 at 3:33 pm

#19 Classical Liberal Millennial on 08.30.20 at 1:52 pm
Garth or Blog Dogs,
We have about $20k sitting in a HISA. It’ll be used for a vehicle and/or a vacation when it’s safe to do so.
—————-
Search this site for buying cars using ‘Search Garth’s Blog’ under his pic or google and you’ll find he doesn’t advise paying cash for cars or buying outright based on being a depreciating asset and the opportunity cost of lost interest from not investing cash used to pay for it. Others here or Garth can better answer where to park money for use within 5 yrs. Good luck.

#41 Konrad on 08.30.20 at 3:34 pm

#17
Another Schmuk who believes that he sounds more important by using the word “reiterated”.

#42 Masks really do make some people more attractive on 08.30.20 at 3:47 pm

#28 BS on 08.30.20 at 2:40 pm
“Chrystia. Justin. Taxes. A trillion in debt. Biden-Trump mashup.”

Looks like the election is Trumps to lose. I guess people in the US don’t actually like Marxism. Lets hope Canadians smarten up as well.

DONALD TRUMP is on course for a clear victory in the US Presidential election after he opened up a three point lead over Joe Biden in an exclusive poll

According to the latest monthly Democracy Institute (DI)/ Sunday Express poll President Trump has 48 percent of the popular support over former Vice President Biden’s 45 percent.

In the key swing states the gap is even bigger with 49 percent for Trump to 42 percent for Biden giving the incumbent US President an almost unassailable seven point lead.

https://www.express.co.uk/news/world/1329041/US-election-2020-donald-trump-joe-biden-latest-polling

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

Hahahahahahaha, polling by the “Democracy Institute”. Which has nothing to do with democracy, but lots to do with the Kochs, and both the Cato and Fraser Institutes. Published in a British rag, because reputable polling orgs won’t touch it with a barge pole.

The actual polls:
https://projects.fivethirtyeight.com/polls/

#43 ImGonnaBeSick on 08.30.20 at 3:51 pm

#105 dogwhistle on 08.30.20 at 2:59 pm
“bankrucptices from this downturn eclipsing that seen durign the financial crsis. And it is estimated that 30-50% of all restaurants”

———————————–

This reads like an ad for Grammarly, even worse than the prose ‘sail away” comes up with..

Good lord.. I have never even heard of you.. could we please lift Sail’s suspension. I can’t take these idiots that have nothing to add to the conversation except bashing Sail now that he’s walked away… Love or hate him, at least Sail added and fueled conversation… I would have a beer with him before any of these detractors… Come back Sail!

#44 UtterlyConfusedCanadian on 08.30.20 at 4:03 pm

@freebird “….Garth’s blog….you’ll find he doesn’t advise paying cash for cars or buying outright based on being a depreciating asset and the opportunity cost of lost interest from not investing cash used to pay for it…”

Does that still make sense with the price of borrowing money is so low? What if you have done all the smart money things you can do and filled your TFSA, RRSP and have your only choice is to added to a non-registered account. Does that still make mathmatical sense?

#45 Keith in Rio on 08.30.20 at 4:08 pm

Becoming an expat or a citizen somewhere else in the world cures or lessens all the issues warned about in the article. Interesting that some of the more onerous ones are not being discussed.

What scares you ?

If you’re prepared to suffer, and degrade your life and mental health by staying in Canada, you’ve got more to gain by leaving, than you do by staying. If you think you can live in what’s coming, you can handle an extended holiday.

$500K CAD minimum and some income, say $2500 USD per month and you can live like Tony Montana ‘s little brother in pretty much any country.

#46 fishman on 08.30.20 at 4:10 pm

Gazillions of snowbirds staying in Canucklestan this winter. The Horror. Put in your order for the snowblower now. Too late for any B.C. R/E unless its up north in some godforsaken town thats closed its mills. Don’t come west unless you got family money. Filling up fast with expats bring their tax free offshore gold back to the motherland. Get the furnace guy in case you’ll need parts that need backordering. I’m starting to see screw ups in the industrial & commercial supply chains. Winter tires? Windows? Caulking, Roof? Winter toys? A nice time consuming winter hobby in the warm basement is gunsmithing & reloading & studying for your PAL. For recreational purposes only of course.
Cold wet late spring. Shaping up for a tough winter if it emulates other La Nina years. Note: The experts are still out on whether its a La Nina. Fishermen see a pattern of offshore cold water. The tuna aren’t coming in as close to shore. Constant rain & drizzle all summer in Prince Rupert & the Charlottes. Early & frequent sou’easters. Shaping up as a La Nina fall. Cold Pacific means cold snowy winter like the old days.

#47 Keith in Rio on 08.30.20 at 4:13 pm

I’m referring to South and Central America in my post BTW.

Gotta speak from real world experience, it is the internet after all.

#48 Stone on 08.30.20 at 4:15 pm

#41 Konrad on 08.30.20 at 3:34 pm
#17
Another Schmuk who believes that he sounds more important by using the word “reiterated”.

———

And all you got from what he wrote was that? You sound bitter and schmuky, schmuk.

#49 IHCTD9 on 08.30.20 at 4:15 pm

#13 Robert Ash on 08.30.20 at 1:18 pm
Hey Maybe O’Toole will be PM.. Ha… Sadly this is the case with our CCP of Canada. I am sure Erin T, is a capable person, and pragmatic, etc.. Lot’s of experience… but is he a good match against JT…the two standing together look like a Family picture with Grampa… I don’t think that will resonate with the Mills… My Hopium is for a bit of Fiscal conservativism, and live and let live… where is the common sense.
— —

The Mils will have to make an executive decision at some point – especially millennial Women. A hurricane of spending/SJW/Enviro stuff that cost a mint for basically no benefit to them whatsoever (a detriment actually), or a step towards job security and a country that can still afford something resembling a social safety net in the decades to come. Can’t have both. It’s pretty much up to them as the largest voting bloc in Canada. Women of all age groups outnumber Men in Canada, AND they’re more likely to vote (and vote left).

Maybe as age sets upon them and they begin to think a little more pragmatically, things might start to change with their priorities at election time?

If not though, we’ll get more Trudeau/Jagmeet types trying to ride the young and youngish female vote to power as Justin did – and to do that, you apparently need to promise big spending and policy on things that basically kill jobs and prosperity for everyone in the country.

My bet is it’s going to be tough for any politician to win without keeping decidedly left of centre. It’s going to take a serious personal economic front kick to change perspectives. We’re well on the way, just a little bit more…

#50 What People Miss on 08.30.20 at 4:21 pm

I think what some people miss in interpreting Garth’s missives is that planning is key. Forewarned is forearmed. Yes, it is true, a plan may fail particularly if poorly conceived but by being prudent and considering possible outcomes and how to mitigate certain outcomes, it is possible to still come out of things relatively unscathed and to prosper.

Fail to plan then plan to fail; plan your work and work your plan. Garth provides excellent insights and much support.

By being consistent, flexible, and dare I say it, humble, one can only benefit what he of the has to offer in the way of advice. And of course, since no man is an island, those whom we love and cherish will also benefit. Would that John Donne were a woman then I could say no woman is an island.

#51 YouKnowWho on 08.30.20 at 4:27 pm

Something is wrong.

Really wrong.

We feel it.

We’re looking around.

Yet leaders keep saying…it’s OK, don’t worry about it. Everything is just great. You’re in more debt. Your children are already indebted before they can speak. You’ll need more debt now. More tomorrow. Jobs are gone. Businesses are going away. But it is all just fine. We’re all great! Believe it!

#52 re elect no one on 08.30.20 at 4:34 pm

Did one MP complain about lockdown?
No. Lockstep.
NDP are more corrupt than Libs
How so?
Watch them prop up T2 and usher us into NWO dystopia
Hong Kong folks may want to stay there

#53 FreeBird on 08.30.20 at 4:39 pm

#44 UtterlyConfusedCanadian on 08.30.20 at 4:03 pm
@freebird “….Garth’s blog….you’ll find he doesn’t advise paying cash for cars or buying outright based on being a depreciating asset and the opportunity cost of lost interest from not investing cash used to pay for it…”

Does that still make sense with the price of borrowing money is so low? What if you have done all the smart money things you can do and filled your TFSA, RRSP and have your only choice is to added to a non-registered account. Does that still make mathmatical sense?
——————-
Good questions. Ask Garth. Maybe he’ll do an update one day.

#54 My Comment on 08.30.20 at 4:41 pm

#13 Robert Ash on 08.30.20 at 1:18 pm
Hey Maybe O’Toole will be PM.. Ha… Sadly this is the case with our CCP of Canada. I am sure Erin T, is a capable person, and pragmatic, etc.. Lot’s of experience… but is he a good match against JT…the two standing together look like a Family picture with Grampa… I don’t think that will resonate with the Mills… My Hopium is for a bit of Fiscal conservativism, and live and let live… where is the common sense.
——————–
Yes, JT is 48 and EO is 47.
Grampa Trudeau ;-)

#55 YouKnowWho on 08.30.20 at 4:47 pm

Hell of an article in the GM about end of globalization.

You’re saying that Trump is actually fighting for them – and winning job gains on their behalf?

Absolutely. Can Chrystia Freeland say the same? Take the recent NAFTA negotiations. If you ask Freeland, “Whose interests were you representing?” Particularly with the auto provisions. She’ll say, “Canada’s.” But whose interests are Canada’s? Are the interests of the few remaining Magna workers in Ontario Canada’s interests? Or are the interests of the Magna shareholders Canada’s interests? Because if I am a shareholder in Magna, I want every job possible moved from Ontario to Mexico. Why am I paying $30 an hour when I can be paying $4? The interests of workers and shareholders aren’t just different, they are diametrically opposed. What’s a success for shareholders is a failure for workers. If you look at who won, Magna shareholders won. Magna workers got [screwed]. Too bad Donald Trump wasn’t their leader.

#56 crowdedelevatorfartz on 08.30.20 at 4:56 pm

@#46 fishman
“Fishermen see a pattern of offshore cold water. The tuna aren’t coming in as close to shore. Constant rain & drizzle all summer in Prince Rupert & the Charlottes. Early & frequent sou’easters. Shaping up as a La Nina fall. Cold Pacific means cold snowy winter like the old days.”

++++

Total agreement.
The leaves have been turning on the trees for almost 2 weeks (in August?) in the lower brain land.
A rainy, cold, nasty winter could be in stall .
Should be interesting if Covid isolation protocols crank up again.
People will really be losing their minds.

#57 Doug t on 08.30.20 at 5:02 pm

It’s a MAD MAD WORLD- not a trump fan (or dingbat Biden) but trump stands to win again and that is not good for this lazy apologetic country (all we do is apologize left right and centre) – 2021 will be another lost year and Canada will be living on UBI and housing will hit the down button –

#58 Don on 08.30.20 at 5:08 pm

Would using a margin account that pays dividends be better than a HELOC?

#59 YouKnowWho on 08.30.20 at 5:10 pm

DELETED

This is not an anti-mask blog. – Garth

#60 PBrasseur on 08.30.20 at 5:12 pm

Capital gains tax will only change if Trump loses the election.

If the democrats win they intend to raise taxes on investments and this will make it easier for the Liberals to implement their socialist agenda.

If Trump wins no worries, Canada is already uncompetitive and raising taxes on investment would be a disaster, otherwise decision time next January…

Where in the Dem platform are higher capital gains taxes pledged? Link, please. – Garth

#61 Millennial Realist on 08.30.20 at 5:15 pm

A “‘go big’ plan for a green new deal” is absolutely necessary for survival of younger generations.

It’s time to act, to take risks, not to just kick the ball down the road. We must change our economy from one that favours the few to one that helps everyone face the grave challenges ahead.

There is alarming new analysis from the University of Guelph that the heating up of our continent is going to have profound health effects.

educationnewscanada.com/article/education/region/ontario/27/849910/university-of-guelphaugust-19-2020-urban-dwellers-exposure-to-extreme-heat-to-increase-u-of-g-research-finds-.html

“Their models indicate that by the end of this century, the population-weighted exposure to extreme heat will increase by at least 12 times compared to the start of the century, but could go as high as 29 times higher under a worst-case scenario of high greenhouse gas emissions, high urbanization and continued population growth.”

Ever been to Phoenix? People there are trapped indoors in air-conditioned refuges, except for the poor dying in the streets.

That’s where we are heading, Boomers and everyone.

September 23 cannot come soon enough.

Be part of the change.

Or be run over by it.

or

‘By the time I get to Phoenix, we’ll be dying….’

https://www.youtube.com/watch?v=mUg5p3BncuQ

#62 DON on 08.30.20 at 5:19 pm

crowdedelevatorfartz on 08.30.20 at 4:56 pm
@#46 fishman
“Fishermen see a pattern of offshore cold water. The tuna aren’t coming in as close to shore. Constant rain & drizzle all summer in Prince Rupert & the Charlottes. Early & frequent sou’easters. Shaping up as a La Nina fall. Cold Pacific means cold snowy winter like the old days.”

++++

Total agreement.
The leaves have been turning on the trees for almost 2 weeks (in August?) in the lower brain land.
A rainy, cold, nasty winter could be in stall .
Should be interesting if Covid isolation protocols crank up again.
People will really be losing their minds.

*****************
It’s been chilly lately in the early mornings and late evenings – dew on the green grass.

For the lower coast and Van this could be a rainy, clouldy, moldy, gloomy winter…worse than normal.
Good storm watching though!

@Crowded

It is a shame we have to rely on international news as to the state of Cdn affairs.

#63 crowdedelevatorfartz on 08.30.20 at 5:30 pm

@# 43 Im gonna be sick
“I would have a beer with him before any of these detractors… Come back Sail!”

++++

True.

How’s about I act way smarter than I actually am and pretend I’m Sail Away?
You can buy ME a beer.

#64 Yukon Elvis on 08.30.20 at 5:34 pm

#58 Don on 08.30.20 at 5:08 pm

Would using a margin account that pays dividends be better than a HELOC?
…………………….

Maybe.

#65 crowdedelevatorfartz on 08.30.20 at 5:37 pm

@#61 Millenial Reality Check
“It’s time to act, to take risks, not to just kick the ball down the road. We must change our economy from one that favours the few to one that helps everyone face the grave challenges ahead.”

+++
Silly naive Milly.
Do you REALLY think Trudeau cares one iota about the climate?
He’s building a legacy for his name in the history books.
Thats all.
And if it causes the financial ruin of Canada with your tax dollars….so be it.
Perhaps his statues will be torn down in 100 years in Montreal and decapitated…..when the debt is finally paid.

#66 Doug t on 08.30.20 at 5:39 pm

#51 you know who

I agree completely- something is WRONG – very wrong – I have a feeling we are heading toward a historic moment for the world – major economic collapse? The end of democracy? The end of the European union? War with China? We shall see

#67 Pete from St. Cesaire on 08.30.20 at 5:44 pm

I hope you blog-dogs have read about the CDC revising their statistics to say that 94% of those previously reported as having died from Covid had a serious co-morbidity issue.

This week the CDC quietly updated the Covid number to admit that only 6% of all the 153,504 deaths recorded actually died from Covid.

That’s 9,210 deaths.

The other 94% had 2 to 3 other serious illnesses and the overwhelming majority were of very advanced age; 90% in nursing homes.

You can be sure that most of those other 6% would have been diagnosed with some other life-threatening illness this year had this ‘pandemic’ never occurred.

#68 PBrasseur on 08.30.20 at 5:46 pm

Garth- It’s not about a particular tax, It’s about the democrats wanting to “tax the rich” more, clearly you can’t deny that?

So you made it up. Thanks for the clarification. – Garth

#69 Stan Brooks Psychiatrist on 08.30.20 at 5:54 pm

#66 Doug t on 08.30.20 at 5:39 pm
#51 you know who

I agree completely- something is WRONG – very wrong – I have a feeling we are heading toward a historic moment for the world – major economic collapse? The end of democracy? The end of the European union? War with China? We shall see
—————————————————————

It is darkest just before the dawning of a new age….

#70 Looking up on 08.30.20 at 5:56 pm

#66 Doug t on 08.30.20 at 5:39 pm
#51 you know who

I agree completely- something is WRONG – very wrong – I have a feeling we are heading toward a historic moment for the world – major economic collapse? The end of democracy? The end of the European union? War with China? We shall see

——————

Naaahhh. Things will be fine.

#71 Stan Brooks Psychiatrist on 08.30.20 at 5:57 pm

#63 crowdedelevatorfartz on 08.30.20 at 5:30 pm
@# 43 Im gonna be sick
“I would have a beer with him before any of these detractors… Come back Sail!”

++++

True.

How’s about I act way smarter than I actually am and pretend I’m Sail Away?
You can buy ME a beer.
————————————————————-

Stop the self-deprecation Fartzy! You have lost more grey matter than Sail Away ever had…

#72 ImGonnaBeSick on 08.30.20 at 5:57 pm

#63 crowdedelevatorfartz on 08.30.20 at 5:30 pm
@# 43 Im gonna be sick
“I would have a beer with him before any of these detractors… Come back Sail!”

++++

True.

How’s about I act way smarter than I actually am and pretend I’m Sail Away?
You can buy ME a beer

——

Any time.. let me know when you’re in Ontario next.

#73 Boomer Bill on 08.30.20 at 6:02 pm

#53 FreeBird on 08.30.20 at 4:39 pm
#44 UtterlyConfusedCanadian on 08.30.20 at 4:03 pm
@freebird “….Garth’s blog….you’ll find he doesn’t advise paying cash for cars or buying outright based on being a depreciating asset and the opportunity cost of lost interest from not investing cash used to pay for it…”

Does that still make sense with the price of borrowing money is so low? What if you have done all the smart money things you can do and filled your TFSA, RRSP and have your only choice is to added to a non-registered account. Does that still make mathmatical sense?
——————-
Good questions. Ask Garth. Maybe he’ll do an update one day.
—————————————————————

I hope there is room in your grand scheme of things to enjoy life and not only think of your investments. I have known countless folks who croaked well before they ever thought they would and left very nice estates for someone else to enjoy…

#74 Looking up on 08.30.20 at 6:03 pm

#66 Doug t on 08.30.20 at 5:39 pm
#51 you know who

I agree completely- something is WRONG – very wrong – I have a feeling we are heading toward a historic moment for the world – major economic collapse? The end of democracy? The end of the European union? War with China? We shall see

—————-

Oh and I forgot to mention, refrain from watching that oversensationalized drivel on CNN.

#75 Westcdn on 08.30.20 at 6:19 pm

Financial lessons learned:

During 2008, people I knew employed trailing stops. They failed big time because equity prices would suddenly gap lower below and the stops would not activate – do not keep your stops tight.

Option investing works best with high volatility and an eye on cashflow.

Greed is not your friend nor any of the other deadly 7 sins. I will use them to my advantage because I have been on the recieving end.

At least listen as much as you talk if your ego will allow it. There are a lot of people and immigrates smarter than you.

Public Service – motto: it is all pensionable time. Ask me not what I do for my country…

I can’t help wondering if the Demoncractic (sic) Party is run by useful idiots. It begs the question, who are the puppeteers? Their is a dearth of politicians who are not bought and paid or are beyond their competence. Trump is a one man show in it for himself but he is challenging the status quo (rather badly). Brings me to T2.

I just hope Canada can survive him. I still want Alberta to leave his nonsense. Best of luck to O’Toole as the cupboard is bare and this is not “Cheers”. Alberta is not a “fun” land – we used to have make hay while the sun was shining to prepare for winter. Our politicians changed that attitude.

#76 ImGonnaBeSick on 08.30.20 at 6:19 pm

#67 Pete from St. Cesaire on 08.30.20 at 5:44 pm

—-

Pete, please provide a reference. I’m not questioning you, but I have not seen this, and I would like to.

#77 espressobob on 08.30.20 at 6:33 pm

Ego is a funny thing for some engaging in the investing game. Trying to be the uber timer usually proves disastrous.

Approaching Mr. Market is generally more productive with with a mindset of humility and patience that can proves more productive over time owning the major indices.

A sense of humor never hurts either. But that ego?

#78 Ponzius Pilatus on 08.30.20 at 6:35 pm

#67 Pete from St. Cesaire on 08.30.20 at 5:44 pm
I hope you blog-dogs have read about the CDC revising their statistics to say that 94% of those previously reported as having died from Covid had a serious co-morbidity issue.

This week the CDC quietly updated the Covid number to admit that only 6% of all the 153,504 deaths recorded actually died from Covid.

That’s 9,210 deaths.

The other 94% had 2 to 3 other serious illnesses and the overwhelming majority were of very advanced age; 90% in nursing homes.

You can be sure that most of those other 6% would have been diagnosed with some other life-threatening illness this year had this ‘pandemic’ never occurred.
——————-
You’re late to the party. No one is dancing to the CDC music any more since Trump is the DJ.
John Hopkins is calling the tunes.

#79 Two-thirds on 08.30.20 at 6:52 pm

“Blend and extend” the mortgage?

Sounds a lot like “extend and pretend” and we all saw how well that worked out…

Has anyone here done it? How does it work?

Commonplace, and effective. – Garth

#80 Abolitionist on 08.30.20 at 7:00 pm

September 23…. September 23

What do millenial leftist satanic losers have planned on the autumnal equinox?

#81 Leftover on 08.30.20 at 7:00 pm

The only tax the Liberals should introduce is capital gains on residential real estate, but they won’t.

As for Trump, a buffoon in my books, don’t write him off. The Democrats have over-played Covid and even seem to be on their heals on BLM. People vote in private and a lot of them, or enough anyway, will vote Trump because they’re scared of BLM and are confident that there’s going to be a vaccine.

The debates should be fun.

#82 Nonplused on 08.30.20 at 7:03 pm

You forgot droughts, forest fires, hurricanes, crop failures, and locusts. Weeee!

————————-

Hillary is advising Joe not to concede the election to Trump under “any circumstances”. I wonder what “any” means? What if Trump wins another landslide in the electoral college? What if he actually wins the popular vote and the electoral college? Or does she just mean that Joe shouldn’t give up on his campaign? Hard to say these days the political landscape in the US resembles an Antifa riot, only with more lying. In any case there is no way you are going to find me in the downtown of any major US city on Nov. 4th covid or no covid. But I’ll have the popcorn out on Nov. 3rd.

————————–

So the videos and coroner’s reports have all been analyzed now and it appears George Floyd had lethal levels of fentanyl in his system and was alive when they got him in the police car, Rayshard Brooks stole a police taser and fired it at them, and Jacob Blake fought with police while resisting arrest and may have been reaching for a weapon. Yet these events set off riots and looting. Why does everyone jump to the conclusion that every time someone gets injured or killed while resisting arrest that there should be a riot? What are the police supposed to do? Just let the bad guys go? And the MSM has been terrible at reporting the facts. They report “Police Killed George Floyd” as if it were a know fact whereas a more accurate headline at this point would be “George Floyd Died While In Police Custody”. Yes they can also report that the officers involved have been charged with murder, because it is a fact they have been charged, but a conviction does not appear to be a certainty at this point. If it comes back “not guilty” what is going to happen? No wonder those who can are fleeing to the suburbs. The best way to avoid getting injured in a riot is to not be near it.

Why are you posting this on my blog? – Garth

#83 Pete from St. Cesaire on 08.30.20 at 7:04 pm

#76 ImGonnaBeSick on 08.30.20 at 6:19 pm
#67 Pete from St. Cesaire on 08.30.20 at 5:44 pm
Pete, please provide a reference. I’m not questioning you, but I have not seen this, and I would like to.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Here is the link to the CDC. https://www.cdc.gov/nchs/nvss/vsrr/covid_weekly/index.htm?fbclid=IwAR3fQ-pS7p7CSFUL0B9jjLmxNY4oXWBOILenLO7Mmtgpm1ZPb03sGRPoIsU#Comorbidities

#84 TurnerNation on 08.30.20 at 7:04 pm

A good time to Google search “Energy Poverty” – consumers made poor by governments.
Water water everywhere and not a drop to drink.
(If land is the goal of war how about our Great Lakes?)

The end of capitalism and a New System of State capitalism. Only permitted businesses will be allowed. This is why they world was shut down. Rolling out total UN takeover.

Food production will more and more come under global State control. Ditto any travel allowed.
CV is cover. Nobody knows anyone with even a sniffle.

They are keeping us in a state of war (6 feet apart soldier! ) and fear and stress that they may drop more of the plan later this year. T2 and the fake US election. Look the fix is already in. This is semantics now the UN plan will be rolled out.

#85 StitchInTime on 08.30.20 at 7:06 pm

The most important question of the year that everyone wants an answer to ….

How will investment property, such as multi-unit residential apartment REITs be affected as far as valuations?

Declining interest rates normally produce favorable results since refinancing at lower rates can reduce operating costs. Also means buyers can purchase more property since borrowing/carrying costs would be less.

However, there are obviously other factors at play, such as vacancy rates and collection rates.

Your thoughts, oh bearded one!

#86 Moonshine on 08.30.20 at 7:08 pm

Regarding the vandalized Macdonald statue in Montreal, the mayor of Montreal Valerie Plante and the premier of Quebec denounced this act. not a word from T2, he must approve by his silence …

#87 NoName on 08.30.20 at 7:10 pm

#79 Two-thirds on 08.30.20 at 6:52 pm
“Blend and extend” the mortgage?

Sounds a lot like “extend and pretend” and we all saw how well that worked out…

Has anyone here done it? How does it work?


I works like this, grab the phone hello bank I would like to blend my mortgage,
I did last week 7yrs for 2.19%, walk in the bank signed and out in minutes.

Side note
Good to know that I am not only one in comments that is steel paying for the mortgage…

#88 whiplash on 08.30.20 at 7:17 pm

#61 Millennial Realist

Ever been to Phoenix? people trapped indoors in air conditioned refuses,………

it’s hot all right, the last time this area had temps over 110 degrees for over 32 days–1895. This is nothing new!

#89 Sunshine on 08.30.20 at 7:19 pm

Why invest LOC in Registered acct. when you can invest in taxable and deduct interest?
Also no mention of using HELOC to invest and claim interest deduction?
R u still supporting that?

#90 Shango Dalingo on 08.30.20 at 7:19 pm

I avoid buying anything at any small businesses or restaurants, breweries etc. I don’t want to support them in any way during this time. There were too many before. I’m happy to see a lot of them drop.

#91 Masks really do make some people more attractive on 08.30.20 at 7:20 pm

#76 ImGonnaBeSick on 08.30.20 at 6:19 pm
#67 Pete from St. Cesaire on 08.30.20 at 5:44 pm

—-

Pete, please provide a reference. I’m not questioning you, but I have not seen this, and I would like to.

///////////

Pete must have been an especially slippery baby, the data say nothing of the sort.

https://www.cdc.gov/nchs/nvss/vsrr/covid19/index.htm

#92 Public Pension Plan Raider on 08.30.20 at 7:20 pm

It won’t be long now until the politicians completely run out of ideas and options and have to start on clawbacks e.g. dipping into employee and employer pension accounts across the country to float the books. You watch!

#93 Nonplused on 08.30.20 at 7:29 pm

#12 Dogman01 on 08.30.20 at 1:15 pm

I agree with your assessment especially the parts about coding and immigration.

I’ve long argued that immigration should be tied to the unemployment rate as stuffing one more person into the country doesn’t increase GDP unless there is a job for that person. It does suppress wages and put a strain on our social net though. I am pro-immigration, but it should be for the good of Canadians not some sort of charity operation. The charity operation is more cost effective and helps more people if you just send the money to where the people already live. Things are cheaper there. Often much cheaper.

And the “high tech” solution often referred to as “learn to code” is also ridiculous. Anyone who has sat through a high school computer course knows that even of the people that are brave enough to sign up for a coding class, only a few are any good at it. And the demand for coding is not infinite. It is one of the easiest things on the planet to duplicate. When Microsoft finishes a patch for Windows 10 for example, it goes out to 1 billion computers all by itself. And it can be done anywhere, including Russia, India, and China. Iran even. And then distributed worldwide with very little effort. So the idea that Canada is just going to “learn to code” is absurd on many fronts, not just the fact that most people can’t learn to do it even if they want to.

#94 I'm Alright Jack on 08.30.20 at 7:30 pm

So, I sold some stock earlier this year in my taxable account and have about 20K capital gains, which I was going to offset with selling some CPD later this year (and buy back the CPD after waiting 30 days).

Should I wait until after the capital gains inclusion rate goes up, so have a larger capital loss on my CPD? I’ve already sold the gainers – would they have a 50% inclusion rate, while the loser has a 75% loss? Or will the 75% (or whatever rate) apply to the whole tax year?

Any ideas out there? Does it matter either way?

#95 Nonplused on 08.30.20 at 7:36 pm

“Why are you posting this on my blog? – Garth”

“Wide-ranging discussion” I guess. Or perhaps just rambling. Anyway I see the ongoing turmoil in the US as a potential economic drain even beyond the election. A contested election and ongoing riots are not going to be positive for US economic growth. And where the US goes so do we. I suppose these things, like covid, will pass in time. I hope.

I have warned you previously about diminishing the deaths of others to pad your personal political agenda. Please desist. – Garth

#96 Drill Baby Drill on 08.30.20 at 7:40 pm

“Or you can wait until Erin O’Toole is prime minister. Ha.”
Garth yee of little faith. Canada needs a Leader with some brains otherwise we have no hope.

Cons need a leader who’s electable. – Garth

#97 YouKnowWho on 08.30.20 at 7:40 pm

DELETED

#98 Idiocy on 08.30.20 at 7:41 pm

to comment #67 Pete from Cesaire

I read that as well today and I’ve suspected it for some time from my own research.

Could have been politically motivated by the Democrats to upend Trump’s economic growth successes – and there is much evidence to support that , Cuomo sending infected seniors to old age homes, etc. and the sensationalization in the left biased media.

Or, it could be a UN fraud to push their agendas.

Or a way for large corporations to destroy their small competitors (see Amazon, Costco, Walmart, Costco, etc.)

Or big pharma ( getting Hydroxychlorquine banned and discredited in order to sell antidotes / vaccines)

Many possibilities.

Always ask – cui bono (who benefits)

#99 [email protected] on 08.30.20 at 7:45 pm

Is now a good time to buy some CPD.TO?

#100 Nonplused on 08.30.20 at 7:49 pm

#26 the Jaguar on 08.30.20 at 2:28 pm

“About this last piece of advice from Garth, ‘If you fear a second wave of Covid, quietly stock up now. Each week double the staples you buy at the supermarket. The drug store. The pet food place.’, I think he inadvertently left out the liquor store. They can barely keep the shelves stocked at the one around the corner from me.”

I’ve noticed that too. They are resorting to repositioning what stock they do have to make the shelves look full but there isn’t much depth and certain products are in very limited supply or unavailable. Costco is also still using this trick as is the co-op. Supply chains are not yet back to normal.

Hand sanitizer is everywhere at this point though. So are non-medical masks. And toilet paper.

#101 Idiocy on 08.30.20 at 7:50 pm

to comment # 76 I G B Sick

I saw it reported on Politico or some other site and forgot to bookmark it, but it looked legit to me.

It was a link I hit and the story was posted on a verifiable website.

Perhaps google it ?

#102 gg on 08.30.20 at 7:55 pm

What does higher capital gains inclusion do to the retirement nest egg of many Canadians who have their retirement savings in equities ?
Does this not add to the problem of inadequate retirement saving ?
Maybe the plan is just to make everyone reliant of government

#103 Don Guillermo on 08.30.20 at 7:57 pm

#54 My Comment on 08.30.20 at 4:41 pm
#13 Robert Ash on 08.30.20 at 1:18 pm
Hey Maybe O’Toole will be PM.. Ha… Sadly this is the case with our CCP of Canada. I am sure Erin T, is a capable person, and pragmatic, etc.. Lot’s of experience… but is he a good match against JT…the two standing together look like a Family picture with Grampa… I don’t think that will resonate with the Mills… My Hopium is for a bit of Fiscal conservativism, and live and let live… where is the common sense.
——————–
Yes, JT is 48 and EO is 47.
Grampa Trudeau

***************************************
If they just photoshop Trudeau’s hair on to O’Toole’s head he’ll scoop all the Mill and Female votes. Landslide.

#104 IHCTD9 on 08.30.20 at 7:59 pm

#80 Nonplused on 08.30.20 at 7:03 pm

No wonder those who can are fleeing to the suburbs. The best way to avoid getting injured in a riot is to not be near it.
——- –

That’ll be the end game for places like Portland. If it turns out that riots break out every other week at the slightest provocation for any perceived “injustice” – anyone who lives there that matters will leave, and new Detroits will be born.

Who the heck wants to live in a city where every time you want to go downtown you have to deal with angry zealots toting AK-47’s around and shooting each other?

Yeah, let’s go out for dinner, but better call first to make sure the place hasn’t been burned to the ground…

#105 On the Lake on 08.30.20 at 8:01 pm

Why would you take CPP at 60 and put it in a TFSA account? You’ll pay 40% tax to put it in the TFSA. Maybe you meant RRSP but still if you leave it it will grow at 7.2% a year till 65 and 8.4% after till 70.

#106 PBrasseur on 08.30.20 at 8:01 pm

There you go Garth:

https://www.google.com/url?sa=t&source=web&rct=j&url=https://www.washingtonpost.com/business/a-guide-to-democrats-plans-to-tax-the-rich-more/2020/08/19/0c5398c8-e225-11ea-82d8-5e55d47e90ca_story.html&ved=2ahUKEwilxNnHkMTrAhUnh-AKHWwSD0AQFjAAegQIBRAB&usg=AOvVaw1eqg6wamMGB37j4gxIPXKJ

Plan is to tax cap gains like ordinary income. No wonder Sanders is happy with Biden

Be careful what you wish for…

You forgot the part about an income threshold of $1 million. – Garth

#107 Mean Gene on 08.30.20 at 8:06 pm

The neo Marxists are having a field day with all of the social unrest.

#108 Cottagers STAY THE HELL AWAY! on 08.30.20 at 8:10 pm

Planes are now using cottage country highways from the GTA to land.

https://ca.yahoo.com/news/small-aircraft-highway-404-north-192152218.html

Do you need another reason to stay away, southern hillbillies?

Just.

Stay.

Home.

#109 crowdedelevatorfartz on 08.30.20 at 8:10 pm

@#80 Abolitionist
“What do millenial leftist satanic losers have planned on the autumnal equinox?”
+++

Probably the sacrifice of an endangered species( Middle Class Boomers wearing a polar bear cape?) on the altar of political correctness…. followed by a seance where Castro’s waxed corpse will arise by the moonlight and point them towards Ottawa while saying….
“Go forth and multiply comrades. The time is now to spread the word………

Debt is good.
Debt is necessary.
Debt is the answer.
Debt is omnipotent.
Debt loves you…….
All Hail Debt!”
We will tell everyone it is to create a more perfect, politically correct, greener world…..
They will believe us and embrace the Debt…
When they realize we are lying.
It will be too late.”

#110 Dr V on 08.30.20 at 8:12 pm

Nonplused – it’s called facing and has been done basically forever.

https://en.wikipedia.org/wiki/Facing_(retail)

#111 crowdedelevatorfartz on 08.30.20 at 8:18 pm

“Cons need a leader who’s electable. – Garth”

++++

It seems like most of the “leaders” lately have been voted in more often than not because the other choice is so unpalatable.
ie Trudeau vs Harper
or Trump vs Hillary

Perhaps its Trudeau’s turn with the fickle voters?
O’Toole might win because the stench lingering around Trudeau is too much to ignore?
Or the grasping, self absorbed CERBians will lap up the “free” money offered like a Sin eaters “free” meal.

https://en.wikipedia.org/wiki/Sin-eater

The path to a Conservative win runs through the centre, not the right flank. You will see this play out again soon – third time running. – Garth

#112 BS on 08.30.20 at 8:22 pm

Biden is going to make capital gains 100% taxable. Right now he is claiming only for those with income over $1 million (that will change) but that could be an average wage earner selling a long term investment property or business which would put the person at over $1 million for that year only and tax them at 100% of the capital gain. Biden is to the left of Chrystia and Justin.

https://www.cnbc.com/2020/07/21/heres-what-a-biden-presidency-might-mean-for-your-taxes.html

“Biden has proposed raising the top individual income tax rate to 39.6%, up from 37%. Those with income exceeding $1 million could see long-term capital gains rates rise to 39.6%, from 20%.”

As stated, on incomes exceeding $1 million. Hardly a middle-class threat. – Garth

#113 Nonplused on 08.30.20 at 8:25 pm

“I have warned you previously about diminishing the deaths of others to pad your personal political agenda. Please desist. – Garth”

Umm, I am not sure you warned me and I am not sure I diminished any deaths. Maybe it was the police thing. I am not trying to diminish any deaths, every death is tragic, but I don’t think it is fair to say every person that gets injured while resisting arrest is the police’s fault until the investigation and the trial is over and a jury has decided.

#114 Bill on 08.30.20 at 8:49 pm

#35 Bill on 08.30.20 at 3:13 pm
DELETED.
Never post a Laura Lynn video again. – Garth

Didnt know she was an issue..dont know her.
Will have a look into it for 30 seconds…lol

Garth all this crazy ass monitary policies are pinning the needles.
Very worrysome to say the least. I think we hit a brick wall within 2 years.
People should be building an insurace policy and i mean finacial. Seems like most peeps dug to big of a hole not unlike the govs..
Crazy stuff. House craziness…have adder. Ill watch…

#115 Nonplused on 08.30.20 at 8:49 pm

#110 Dr V on 08.30.20 at 8:12 pm
Nonplused – it’s called facing and has been done basically forever.

https://en.wikipedia.org/wiki/Facing_(retail)

————————————-

I’m sure but try and find some rye at the co-op these days. Scotch is in stock though.

#116 Flop... on 08.30.20 at 8:50 pm

#104 IHCTD9 on 08.30.20 at 7:59 pm
#80 Nonplused on 08.30.20 at 7:03 pm

No wonder those who can are fleeing to the suburbs. The best way to avoid getting injured in a riot is to not be near it.
——- –

That’ll be the end game for places like Portland. If it turns out that riots break out every other week at the slightest provocation for any perceived “injustice” – anyone who lives there that matters will leave, and new Detroits will be born.

Who the heck wants to live in a city where every time you want to go downtown you have to deal with angry zealots toting AK-47’s around and shooting each other?

Yeah, let’s go out for dinner, but better call first to make sure the place hasn’t been burned to the ground.

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

I’ve mentioned on here before all the great travel deals that were available during 2008-2010 due to the GFC.

Mrs Flop and I had wanted to go to Portland before, not necessarily for Spring Break but not that many people were traveling and we got a deal at the Marriott Downtown for 75 Canuck Bucks per night sealed the deal.

Anyway, we went for a walk mid afternoon on a Sunday and came across an organized protest.

Started off with chants and drum banging, next minute, fires were being lit in garbage cans, signs and windows were getting the boots and smashed and two police trucks carrying officers in riot gear turned up.

Chaos ensued.

Once you witness stuff like that you’re ears perk up each time you hear “Portland” and “riots” mentioned in the same sentence.

I’ve lost count how many times I’ve heard this type of stuff reported there the last decade or so since that trip.

I think it’s a young liberal town and don’t see anything changing there anytime soon.

I don’t know what they were protesting about, all I know is I decided staying in the Marriott was probably a little bit nicer than staying in the Portland Prison…

M46BC

#117 the Jaguar on 08.30.20 at 8:59 pm

‘Rainy days and mondays always get me down….’
Or maybe not. The Chicken Hawks are apparently taking center stage in the barnyard tomorrow if anyone is interested ……………. I’ll be “all ears”.

OSFI to announce updates to some COVID-19 regulatory measures and will offer a technical briefing for media on Monday, August 31
Media Advisory
August 28, 2020

On the morning of August 31, the Office of the Superintendent of Financial Institutions (OSFI) will be announcing updates to some COVID-19 regulatory measures and is inviting members of the media to a not-for-attribution technical briefing following the announcement.

#118 Stinking Albatross on 08.30.20 at 9:04 pm

To: Erin O’Toole (the Canadian Andrew Scheer)

Just ignore comments like Garth’s –

“The path to a Conservative win runs through the centre, not the right flank. You will see this play out again soon – third time running. – Garth”

He is hardly ever seen in church and treats women like equals. He knows nothing about your movement.

Have a great Week #2!

#119 Dogman01 on 08.30.20 at 9:07 pm

#55 YouKnowWho on 08.30.20 at 4:47 pm

Great post.

Labour has been losing for a long time now. If the trend continues it will destroy our civil society.

Most of us and our kids work for a living

For I am involved in mankind.
Therefore, send not to know
For whom the bell tolls,
It tolls for thee.

So, let’s remember. There are those among us who, in serving themselves, serve no one. – Garth Turner

Labour losing its share of the “value added” to capital will turn Canada into a cold Brazil.

#120 majik on 08.30.20 at 9:09 pm

Liked your link at the end, ha!

Some whag purchased antifa.com and then redirected the traffic to joebiden.com. Now Google has stepped in to try and halt the redirect by scrubbing antifa.com from their DNS servers and redirecting the traffic to google.com. This is the kind of action that wouldn’t be out of place in Russia or China.

#121 Wrk.dover on 08.30.20 at 9:17 pm

You are supposed to lease a car, so you can get clear of it for a predetermined amount. Option remains to buy out the lease at it’s end, if it works out to be the right car to keep.

I just buy them with one cheque. Garage them when the key is in the off position, and get decades of service out of them.

The best investment is the tool chest and with it the experience you will need to avoid ransom payments due to not understanding what and when to maintain.

Cars can eclipse RE as a life expense. Mine don’t.

M67NS

#122 Drinking on 08.30.20 at 9:19 pm

Good advice!

Those smart enough to stock up in anyway possible. whether cash, stocks, food, ect, good on you. I know I have enough T.P. to last me through winter, no line ups for me! :)

#123 Bill on 08.30.20 at 9:38 pm

#84 TurnerNation on 08.30.20 at 7:04 pm

Seems to be so….Ive spent many hrs looking for diffent…no luck.
Green economy push
Major controls
Loss of freedoms
Reduce population
T2 seems to be all in on this. Show me different it would thrill me.

#124 DON on 08.30.20 at 9:52 pm

#111 crowdedelevatorfartz on 08.30.20 at 8:18 pm
“Cons need a leader who’s electable. – Garth”

++++

It seems like most of the “leaders” lately have been voted in more often than not because the other choice is so unpalatable.
ie Trudeau vs Harper
or Trump vs Hillary

Perhaps its Trudeau’s turn with the fickle voters?
O’Toole might win because the stench lingering around Trudeau is too much to ignore?
Or the grasping, self absorbed CERBians will lap up the “free” money offered like a Sin eaters “free” meal.

https://en.wikipedia.org/wiki/Sin-eater

The path to a Conservative win runs through the centre, not the right flank. You will see this play out again soon – third time running. – Garth

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

My take as well, a more centrist approach. Where the majority of the votes are. The left and right extremes are uncompromising political baggage. This potential Green Deal needs to be vetted before it is put in motion. These next couple of months will be entertaining.

#125 IHCTD9 on 08.30.20 at 9:54 pm

All good prep advice from Mr. T today.

For the hands on willing crew living in the various podunks of Canuckland, I offer the following additions:

Get on the net and learn to maintain your own abode, and equipment. Save the cost of labour, save the taxes thereof.

Every little bit counts. I just replaced the direct drive coupling in our washing machine, labour savings 150.00, and taxes thereof. Never did the job before, Sears had a great tutorial on YouTube that walked you thru it. Less than an hour to do the job.

It adds up. In the last 24 months, I did the roof, re-did the driveway from scratch, a wheel bearing on the car, the washing machine, various pellet stove repairs, oil furnace, a couple new breakers in the main panel, new fascia and soffit out back, new back exterior door, tree removals, mower spindle and more – all myself by reading the instructions and using the net. Probably saved 12-13 grand in 2 years, and a pile of taxes.

As time goes on, you get better equipped, and more adept at all kinds of maintenance. I even repaired the circuit board on our pellet stove once. It needed a new potentiometer for the fan speed. Part was 2.00, new board was 250.00. I had to source the pot myself, but that was free. Never did any electronics work before in my life. Eventually, you’ll be able to fix almost anything.

Buy and sell as a side gig. I bought a beat 50hp hammermill for 50.00, fixed it and made it look new for 100.00, sold it for 900.00. I bought an old 1940’s B+D valve seat resurfacing kit for flat heads for 50.00 sold for 300.00. I bought a mint Holset HE351 Turbo for 100.00, sold for 350.00. I always have a “Kijiji envelope” with 3-4 grand in it. I use it to buy more stuff to sell, and new toys. I know a few folks flipping stuff, each in accordance with their area(s) of knowledge, and it keeps them in tax free spending cash at all times.

Not for everyone, but it’s great for regular working stiffs with the abilities/resources/ambition to offset the tax increases coming down the pipe!

#126 Bill on 08.30.20 at 9:59 pm

#122 Drinking on 08.30.20 at 9:19 pm

Ya no doubt…been stocked for a decade. Rotate stock..
People should have enough money for many mortgage payments.
My god look at what our parents had to endure..
The game is totally rigged against againts the average fool. Get your granite HERE!
Grab a bidet….you know how much you save on TP never mind the environment and you butt is squeaky clean :-)

#127 Reynolds531 on 08.30.20 at 10:02 pm

No mention of the dreaded tax on gains on your house? Am I wasting my time, scheming about doing a deemed disposition on my house?

#128 YouKnowWho on 08.30.20 at 10:11 pm

#119 Dogman01

There is more:

The dominant narrative pre- pandemic was that globalization creates a rising tide that lifts all boats. You can look at the data – GDP, jobs, economic growth – and say that it’s working. Why is that not the whole story?

Most research institutes and most academic economists will tell you that free trade is unambiguously good … And they are right … GDP will be smaller under protectionism than it will be under free trade. The question is, why do you [care]? The presumption is, of course, that if GDP increases, everybody’s livelihood is better. Neoclassical economics has always recognized that there would be losers from free trade. But in theory, the net welfare gains – the increase in GDP – would be large enough that it could be redistributed so that no one was worse off. And that is theoretically correct. But it is empirically wrong. That hasn’t happened. The opposite has happened. Not only have the gains not been distributed equally, but far from making everyone better off, it’s made a lot of people worse off. There hasn’t been a real wage gain in Canada or the United States in 50 years. And you wonder why there is the distemper of the times … Prior to the pandemic, most countries were at what most economists would consider full employment. The lowest unemployment rates in 50 years. But in most of the postwar period, having a job was an exit from poverty. Now it’s a gateway into poverty. Because jobs aren’t what jobs used to be. For your typical millennial worker … you are nailing down two jobs in the gig economy, you’ve got no benefits, and you are not covered by minimum wage because you’re a contract worker.

Jeff Rubin selling a book. But I find old dudes like this who made their money tend to not give a crap, or at least give less of a crap and often tell it how it is. A bit to a conscience purge if you will.

#129 Eileen on 08.30.20 at 10:32 pm

My suggestion is to invest 100% in the US equities not just a mere minimum 20% in US equities and stock market. I just don’t see the TSE stocks giving the returns US growth stocks are currently doing.

I am not kidding when I say that the month of August gave me almost 46% returns.

Mind you the month of July was 0% returns because I did decide to cash out my Starbucks stocks (at a loss so I could invest it in something more profitable).

But the month of June was 30% returns.

The US stock market is.. going insane… and I just don’t foresee the Canadian stocks on the Canadian stock exchange doing as well in returns as the American stocks.

#130 cuke and tomato picker on 08.30.20 at 10:39 pm

Malcom Winspear wants the B C government to cancel the speculation tax on his North Saanich property.He lives in Dallas Texas. His family has done a lot for Sidney BC.Also
if he sells it and has to pay 75 per cent capital gains this is also not good.Albertans who have bc property are not happy with the speculation tax and if we go to 75 per cent capital gains it does not give them much to be happy about.

#131 Ronaldo on 08.31.20 at 12:04 am

I found this link regarding info on Covid deaths and underlying medical conditions. Thanks Pete.

https://www.msn.com/en-us/health/medical/cdc-94-25-of-covid-19-deaths-had-underlying-medical-conditions/ar-BB18wrA7

#132 Ace Goodheart on 08.31.20 at 12:05 am

The nobody knows anyone disease. COVID is a symptom.

The disease is far worse.

Back before we were all connected to a large body of information, that is mostly irrelevant to us (the WWW), people could predict what would happen to you, because they knew you.

Humans were very regional. People would know, for example, that members of a certain family tended to be alcoholics. Or tended to have weak hearts. Or were all allergic to the same thing.

Information for these people was useful. If you happened to have a certain weakness, then information about that weakness was useful to you. To everyone else, it didn’t matter (because they did not have the certain weakness, so they could ignore the information without consequence to themselves).

That all changed with WWW and the information super highway.

All of a sudden, we are all at risk, of everything.

Everyone has COVID, and everyone is an asymptomatic spreader. We are all infected, but we are all going to exhibit mild symptoms.

At the same time, and with absolutely no mind paid to the complete impossibility of two opposite things existing in everyone, at once, we are all vulnerable to the extreme form of COVID, and we will all die if we get the virus.

We are all alcoholics. That is why you cannot drink a beer in a park.

We are all vulnerable to nutrition based diseases. That is why we have such weird nonsense diets and “food groups” and the like directed at us by doctors and online medical sites and the like, governments and do gooder nanny state participants, none of whom know us or what weaknesses our bodies have or do not have.

We are protected by a nanny state. Protected from about 98% of stuff that could never affect us, and 2% of stuff that could. Just to be safe. Just in case.

Because if you protect everyone from something, that affects 0.02% of the population, then you are bound to snag that 0.02%.

And you don’t need to get to know anyone. Just carpet bomb the entire place. You will hit your target. You don’t even need to look where you are going.

This is the danger of a “one size fits all” nanny state. In its attempt to protect everyone from everything, it protects a lot of people from stuff that they are not vulnerable to, and will never have an issue with.

It would appear that the all knowing, all seeing big brother style state has failed.

You can see it in all the weird little protests that are erupting over nonsense, all over the world. People have woken up and decided that they do not need to be “protected” from stuff that cannot hurt them, by blind, massively sized stuffed pillow, stay puff marshmallow man type governments, who aim to just throw the net as wide as possible, and do not care how much flounder they catch, as long as something in the trap is what they were looking for.

The age of the individual is upon us once again.

Globalization, and all its weird one size fits all stereotypical compartmentalization, is dead.

#133 SoggyShorts on 08.31.20 at 12:24 am

#114 Bill on 08.30.20 at 8:49 pm
#35 Bill on 08.30.20 at 3:13 pm
DELETED.
Never post a Laura Lynn video again. – Garth

Didnt know she was an issue..dont know her.
Will have a look into it for 30 seconds…lol

*******************
So you tried to share a link to a video by someone who you didn’t do 30 seconds of research on?
That’s…not great.

#134 SoggyShorts on 08.31.20 at 12:28 am

#58 Don on 08.30.20 at 5:08 pm
Would using a margin account that pays dividends be better than a HELOC?
**********************
Margin accounts charge about 7% and are used to buy assets like stocks. Not great for an emergency.

A Heloc can be used to buy anything, and costs less than half.

#135 SoggyShorts on 08.31.20 at 12:48 am

#67 Pete from St. Cesaire on 08.30.20 at 5:44 pm
I hope you blog-dogs have read about the CDC revising their statistics to say that 94% of those previously reported as having died from Covid had a serious co-morbidity issue.
*******************************
I’m not sure that the data supports what you are implying.

Sure, 6% of those who died from covid-19 were otherwise in great health- this is shown in the data.
But
You seem to be implying that the other 94% were already on deaths door, which the data does not support.

We always knew that older people had worse outcomes from being infected, so let’s see some stats of how many older people have how many conditions maybe? My 70y old father has a minor heart condition, gout, and high blood pressure but is otherwise a really fit man- I think those like him mess up how you are interpreting the data. 3 other co-morbitity issues, but he could live another 30 years with those.

I mean between all of the possible conditions that people can have I’m actually shocked that even 6% of people who died had ZERO other conditions. Heck, if you tested old people who died in car crashes you’d probably find that a very high percentage also had underlying health conditions, right?

6% of deaths being from otherwise perfectly healthy people makes it more scary, not less.

#136 NSNG on 08.31.20 at 12:50 am

Cons need a leader who’s electable. – Garth

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

To be fair, that’s what they said about Ford in Ontar-i-owe

#137 NSNG on 08.31.20 at 12:52 am

For a laugh, try reading Garth’s comments on the blog in the Batman’s voice.

LOL!

It fits.

#138 YouKnowWho on 08.31.20 at 12:57 am

#42 Masks really do make some people more attractive

The actual polls:
https://projects.fivethirtyeight.com/polls/

——

Hahaha! 538…I remember these guys 4 years ago because every poll they delivered had that election sawn up for Hillary, and Trump stood no chance.

It was such a joke I took a photo on my TV of the sweaty guy from 538 at around 11PM on election night trying to justify how ALL their polls got it so wrong. I remember he actually said “9 times out of 10 the polls are right.” Oh how I laughed.

538 poll…yeah, whatevs.

https://m.youtube.com/watch?v=S8jlymRjiO8

#139 gg on 08.31.20 at 1:00 am

Garth
I dont think the advice to lock in capital gains is the best advice for everone
Let me explain
If you are a long term shareholder 10+ years
You will be better off holding onto your shares and paying the higher rate in 10 years than selling now and re investing the smaller amount of capital in the same stock in a few months
The higher capital base will offset the higher tax rate over a 10 year period

#140 jane24 on 08.31.20 at 1:50 am

As always agree with 80% of Garth’s advice and have since following his Sun newspaper column in the 1980s’.
There are two changes I would make though.

You sleep much better with cash in an emergency fund. LOCs are just too easy to abuse. Hard to hand over your own money over for toys. Easy to hand over bank money.

Two, if you are over 50 then trash that mortgage. Retiring with a mortgage as some of my friends have done is a millstone around your neck. Pensions are never generous enough to carry debts. They are based on one having free paid-off renovated accommodation.
If your biggest bill is £300 a month for quality food, you can have fun with the rest of it! There is a point when you don’t need to invest your money for a return. You just need to have fun spending the capital.

#141 Wrk.dover on 08.31.20 at 5:57 am

DELETED

#142 HardWorker on 08.31.20 at 6:54 am

Let’s say I make $100k a year. With Universal Basic Income would I get money from the govt too?

“Universal” so I would assume yes, but again this is Canada do workers are usually punished and jobs are discouraged

#143 MikefromCorbeil on 08.31.20 at 7:38 am

Still don’t agree on taking out a LOC, nothing wrong with having say 10k in cash on hand. Can be used for deals that arise or emergencies, not having to pay any bank interest on that.

Agreed. Furthermore, imagine saving up before you actually buy something?

What? that could take months! I need it now!

#144 Tater on 08.31.20 at 8:07 am

#37 IHCTD9 on 08.28.20 at 4:21 pm
#21 crowdedelevatorfartz on 08.28.20 at 3:23 pm
@#165 Per-Tater
“Unproven theories says the guy who expects hyperinflation. It’s all out there, if you’re too lazy to do the work that’s on you.”

++++

I dont expect hyperinflation.
I expect Hyper Taxes after Trudeau is finished with the Canadian economy.
Too lazy to do the work?
Hardly how I’d describe my past 8 months.
I’ve been working 7 days a week for months, keeping several other peeps employed during these trying times..
Too busy to read a book of fiction.
As I said.
Just give us the Coles Notes version.
——

I think the main bone of contention with MMT is the idea that the government should just print whatever currency it needs instead of raising revenue thru taxes and bond sales. If inflation gets too high because of all the free money being pumped into the system, they just tax the money back out of circulation.

I have to wonder how that last part would work out in the real world. If Trudeau printed off 500 billion and spent it into the system, and was then faced with an inflation problem; could you see him getting all medieval with a salvo of new taxes? He’d be out on his @ss the very next election.

Also, folks can and will avoid/evade taxation, they’ll hide their stash offshore, they’ll leave. They may also riot. Macron found out the hard way twice – once when he taxed the crap out of millionaires (they started leaving en masse) and again when he jacked taxes on gas (yellow vest riots). He spent years trying to raise revenues and just got less of them.

Exactly how reliable is taxation for extracting money out of folks? IMHO, the CRA would need a tactical wing armed with automatic weapons to make taxation reliable. For MMT to work, they’d need to see inflation coming a mile away, and get on it immediately. I have my doubts that you’d get much out of folks very quickly without getting your government tossed out of power post-haste.
—————————————————————

The idea isn’t to adjust taxes after inflation starts, but to change the budgeting process to focus on inflationary forces rather than on what the outcome will be to the debt. In the US, it would mean that the CBO would look at the inflationary pressures that spending proposals would cause, and look at how to set taxes to minimize that.

for those who find the idea of an entire book too daunting: https://ftalphaville.ft.com/2019/03/01/1551434402000/An-MMT-response-on-what-causes-inflation/#

#145 Captain Uppa on 08.31.20 at 8:10 am

I’ve noticed a recent uptick in “DELETED” comments.

Sigh. Everyone’s extreme political leanings are becoming exasperating. I can only imagine what it’s like for Garth to moderate this forum.

#146 crowdedelevatorfartz on 08.31.20 at 8:13 am

@#139 jane24
“If your biggest bill is £300 a month for quality food, you can have fun with the rest of it! There is a point when you don’t need to invest your money for a return. You just need to have fun spending the capital.”

+++++

Wouldn’t it have been faster and easier if you just said, “I married rich and you can too!”

P.S. Two thumbs up for not (once again) mentioning the Pallazzo in Italy and the Summer home in Blighty.
It was getting a tad tedious.

P.P.S. Have you purchased the French castle in Normandy you keep reminding us of?
All the little people live our lives vicariously through your incessant bragging.

#147 UtterlyConfusedCanadian on 08.31.20 at 8:15 am

#102 gg on 08.30.20 at 7:55 pm
What does higher capital gains inclusion do to the retirement nest egg of many Canadians who have their retirement savings in equities ?
Does this not add to the problem of inadequate retirement saving ?
Maybe the plan is just to make everyone reliant of government

———-
This ^ . I find it a bit “rich” that those with taxpayer DB pensions are the ones talking about raising the inclusion rate as if it doesn’t affect the middle only the ultra wealthy. What they fail to understand is that there are circumstances where the bulk of the retirement is in non-registered accounts for some folks. Anyone lost a non-taxpayer back DB plan? Sears? Nortel? How is this fair?

#148 Dharma Bum on 08.31.20 at 8:17 am

#38 Flop

Colorado is a great state to explore.

It’s my perennial go to place.

I once even road my old motorcycle out there from Ontario. Rode it to the peak of Mount Evans (14,000′ +). The altitude fried the horn, somehow.

So many excellent spots in CO.

Make sure you also get to Telluride in the San Juan mountains of south western Colorado. Epic.

https://www.google.com/search?source=univ&tbm=isch&q=colorado+national+monument&sa=X&ved=2ahUKEwjCrrGMtcXrAhXmUN8KHTi3BY8QsAR6BAgEEAE&biw=1366&bih=688

My home is plastered with large prints of photos I have taken in CO over the last 35 years.

#149 crowdedelevatorfartz on 08.31.20 at 8:24 am

@#129 cuke and tomato picker
“f we go to 75 per cent capital gains it does not give them much to be happy about….”

++++
The “leadership” dont care about the worker bees.

Its about their legacy.

Our manic “leader” sees himself as some self appointed messiah who will go down in the history books as the first leader to go “green” and save the world.
Songs will be sung about him. Parks and schools will be named after him.

What they dont realize is….when you crank taxation through the roof….. business leave or just stop and wait. People have no incentive to work ( or work over time), investment tanks, the economy grinds to a halt.

I give the “floating green cities in the sky” agenda about 2-4 years of implementation before the unemployed turnip and rotten tomato mobs arrive at the train stations all across Canada la Salmon Arm B.C.

https://www.huffingtonpost.ca/2017/01/27/trudeau-middle-finger_n_14434854.html

#150 Do we have all the facts on 08.31.20 at 8:33 am

#134 Soggy

In March 2020 the WHO amended the International Classification of Diseases to add UO 7.1 Covid 19 as a distinct cause of death and directed all health authorities around the world to apply UO 7.1 Covid 19 as the primary cause of death if the Covid 19 virus was present and could have contributed to death.

I was curious why obvious age and co-morbidity issues associated with over 90% of all deaths being recorded under UO7.1 worldwide were being ignored by government officials, health authorities and the mainstream media.

By April 2020 it was determined that concentrated exposure to the Covid 19 virus and density of living conditions substantially increased the risk of infection and death for people without any previous co-morbidity issues.

By April 2020 health authorities had determined that over 270 cruise ships around the world had transported well over 2,000,000 passengers since the first case of Covid 19 was recorded and all travel by cruise ships was terminated.

After a detailed analysis it was determined that 95% of deaths recorded under UO 7.1 for passengers on over 270 cruise ships occurred on just 5 ships that were refused permission to disembark their passengers after positive tests were identified.

It was determined that concentrated exposure to the COVID 19 virus in confined spaces contributed to the death of passengers with compromised immunity. Over 99% of the passengers that tested positive for the Covid 19 virus but were allowed to disembark recovered.

This was followed up by a detailed examination of deaths that had occurred in long term care facilities with very similar results. Concentrated exposure to the Covid 19 virus in confined spaces substantially increased the risk of death. Leaving residents exposed to the virus in confined environments substantially increased the risk of death.

It is my humble opinion that if the CDC was to examine the situation surrounding the 6% of Covid 19 deaths where no co-morbidity issues were identified they might find a relationship between concentrated exposure to the virus in confined environments and mortality.

Once again I must raise the question of whether the actual facts associated with the Covid 19 virus warranted the implementation of restrictions that crippled the global economy and forced hundreds of millions of citizens into temporary or permanent unemployment.

Question all you wish. It happened. Dealing with recovery is now the only worthwhile preoccupation. – Garth

#151 ImGonnaBeSick on 08.31.20 at 8:41 am

#142 MikefromCorbeil on 08.31.20 at 7:38 am
Still don’t agree on taking out a LOC, nothing wrong with having say 10k in cash on hand. Can be used for deals that arise or emergencies, not having to pay any bank interest on that.

Agreed. Furthermore, imagine saving up before you actually buy something?

What? that could take months! I need it now

——-

Well, the issue is that it’s “dead money”. So that $10k could be invested and be $20k in 10yrs (@ 7%), or it could sit and erode in a bank account for 10yrs. I believe the idea is to let the bank’s money erode… Then after a recovery, take the $10k you would have had sitting and put it against your LOC, which by then would have cost you nothing…

#152 GeoffH on 08.31.20 at 8:46 am

Garth, first time commenter, long-time reader (in the financial advisory profession). One piece of advice I have for your readers is not to let your political beliefs inform your financial decisions. I think that we are in the process of a grand experiment with a new way of thinking about public spending and money creation. For those of you who think we are going bankrupt as a nation (either the US or Canada), you have a fundamental misunderstanding of how money creation works. I think we will see these kind of deficits for a long while and there is a very good chance that economic collapse will not ensue. Not being appropriately invested (or being stuck in cash/gold/BTC) can lead you to dramatically under-perform. I think the real risk of this type of fiscal/monetary policy is in inflation (right now non-existent) or a weakening of the dollar (which you should hedge like Garth mentions). As new money is created and those with those dollars are unable to travel or reluctant to spend on perishable items, much of this new money will flow into assets like equities, fixed income and real estate. I’m very skeptical on real-estate but I don’t rule out it moves higher with other financial assets.

Keep tilting at the windmills of hysteria, hyperbole, and ignorance, Garth. You’re a better and more patient man than I.

#153 James on 08.31.20 at 8:55 am

Thank you once again, Garth!

#154 YouKnowWho on 08.31.20 at 8:57 am

#144 Captain Uppa

It is because Garth appears to want guardrails on comments in terms of subject.

Masks, dogs or cats getting Covid, Covid facts itself are not all that welcome. I got teemed a bit about wanting to be sensitive to all people dying instead of those who only die of Covid. Not sure you’ve seen but it turns out those 94% of those who died of Covid had 2.6 other conditions on average – so did they really die of Covid? As I’ve been saying maybe all this screen screen clickety clickety bring it to my house and deliver McDonald’s to me had a price after all? Maybe Covid just exposed our laziness and weakness as a species? Look at me get off track….

If you include a good comment about a dog perhaps you’re less likely to have the sensors dump to commercial while you spew. And let’s be honest, we can spew baby! I feel for Garth, when 2nd wave comes and we’re all stuck at home comment volume will go back to 300 range daily again. :-)

#155 Crowdedelevatorfartz on 08.31.20 at 9:05 am

@#143 tater

Soooooo. We have a new economist providing a new economic theory on how the economy will work.
And it’s called Modern Monetary Theory.
I guess all the other economists were dreadfully wrong and can go home now?

#156 Ace Goodheart on 08.31.20 at 9:08 am

RE: #130 Ronaldo on 08.31.20 at 12:04 am

I found this link regarding info on Covid deaths and underlying medical conditions. Thanks Pete.

https://www.msn.com/en-us/health/medical/cdc-94-25-of-covid-19-deaths-had-underlying-medical-conditions/ar-BB18wrA7

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

First, we had the “war on terror”. The world as we knew it, was ending. Terrorists were everywhere. You had to watch brown people carefully. Dutifully report your non white friends and neighbours, if you thought they were up to something. Don’t go swimming near a brown family. They could be using inflatable water toys as bombs. Report, report, report. Any suspicious turban wearing person was a target for white folks, doing their duty by harassing an innocent person because their skin was the wrong colour.

Then there was climate change. We all had to stop traveling (unless you were our PM, or the “We” fake charity brothers, then travel was very important, for rich folks to go and see “charitable activities” in countries like Kenya (which has a functioning education system and did not need “We” schools). We all had to stop driving our cars. There was talk of regulating how warm people would be allowed to heat their houses. The vegan movement jumped in, suggesting that the raising of livestock be banned, as cow toots contain a lot of methane. A former Canadian Prime Minister suggested she wished that hurricanes would hit the houses of Republicans, so they would understand climate change was “real”.

Then, there was the virus. It gives most people a cold. In rare cases, you get pneumonia. A small amount of people, mostly the very old, and those with pre-existing health conditions, will die of it. It sounds a lot like influenza.

We were banned to our homes. Forced to wear masks when we go outside. Our children were told, no more socialization. 4 year olds must wear face masks all day long, for 7 hours, although the masks hurt their ears and make it difficult to breathe. Children will be disciplined for talking to their friends, standing too close to other children, or attempting to socialize. Birthday parties are banned. People will be arrested for gathering in groups.

Of course, if you are conducting an “approved” protest, you are fine. Approved protestors do not need to social distance. Check with your local Liberal government first. The list of approved protest movements is quite narrow.

At what point are we going to wake up and realize that those in charge, are either crazy, or they hate us? Or at any rate, this is over. We cannot allow ourselves to be “ruled” by insane people anymore.

COVID is a disease that is endemic to the human population. It causes a cold. Like influenza, which also causes a cold, some people will get pneumonia from it. In rare cases (like influenza) it will kill you.

There will never be a vaccine. It is an RNA corona virus. Vaccination is impossible. There are now confirmed cases of people being re-infected. These people will have the antibodies from their first infection, which did nothing to prevent a second infection by a different strain (RNA viruses mutate, so they are “invisible” to the body’s immune system, meaning you can get them over and over again).

It is time to stop the madness and start living again.

A year from now, everyone will agree with me. I expect at the moment, many people will not.

However, ask yourself, do you still call the police when a brown dude wearing a turban walks down your street?

Or did that turn out to be a load of nonsense (just like everything else)?

#157 TurnerNation on 08.31.20 at 9:14 am

Here it comes…our travel rights. You are sick until proven healthy in the New System.
Submit to the DNA testing or else. A precursor to the COVID (Certification of Vac ID).
Our global elites are not letting up on this, incrementalism, and every company is on board.
The article is all about COMPLIANCE are we are in that Phase, 1:

“The Globe and Mail reports in its Saturday edition that WestJet passengers in Vancouver may soon be taking COVID-19 tests before takeoff. A Canadian Press dispatch to The Globe says that WestJet and Vancouver International Airport announced on Friday plans for a pilot project to test passengers for the coronavirus on some departing flights, the latest move in a broader push by carriers to show they are serious about combatting viral spread as they try to coax Canadians back to the skies. The pilot, slated for this fall, will share data with government and health authorities. A Friday blog post from WestJet chief executive officer Ed Sims and Vancouver Airport Authority CEO Tamara Vrooman did not specify whether the tests would be voluntary, or what kind of viral testing would be conducted. The announcement comes alongside a strict new policy at the airline to ensure passengers wear masks on board, with potential consequences for non-compliers that include a year-long travel ban. The airline is also requiring that flyers provide their contact information during check-in to help health agencies with contact tracing if an infected passenger is on the same flight, following inexplicable delays amid the pandemic.
© 2020 Canjex Publishing Ltd. All rights reserved.”

#158 YouKnowWho on 08.31.20 at 9:22 am

#67 Pete from St. Cesaire

I’m going to say something controversial about this new CDC report Pete. Here goes.

The remaining 6% of people don’t have other health causes attributed to them except for Covid – could it because the American medial system is so expensive they simply didn’t go to the doctor, didn’t get diagnosed, therefore the data on the 6% is not complete?

6% sure as heck sounds like a margin of error thing. A lack of data thing. A couldn’t go to the doctor because the richest country on the planet won’t take care of their citizens kind of a thing. Or maybe just “I don’t like going to doctors” kind of a thing.

I guess what I’m saying is that human beings are more likely to have 6% error than Covid.

I’m going to give the virus a 100% accuracy record in finding pre-existing conditions of one sort or another until I see scientific proof otherwise.

#159 Al on 08.31.20 at 9:50 am

Ontario’s Rent Freeze for 2021 will be a body blow to the Apartment REITs

Why? Lower interest rates have reduced financing costs. – Garth

#160 AM in MN on 08.31.20 at 9:51 am

#60 PBrasseur on 08.30.20 at 5:12 pm
Capital gains tax will only change if Trump loses the election.

If the democrats win they intend to raise taxes on investments and this will make it easier for the Liberals to implement their socialist agenda.

If Trump wins no worries, Canada is already uncompetitive and raising taxes on investment would be a disaster, otherwise decision time next January…

Where in the Dem platform are higher capital gains taxes pledged? Link, please. – Garth

———————————————-

https://www.wsj.com/articles/capital-gains-tax-rate-chasm-separates-trump-biden-11597409062

#161 David Hawke on 08.31.20 at 9:51 am

Thanks for posting this link yesterday.

#96 Re elect NO ONE

#162 Tater on 08.31.20 at 9:57 am

#154 Crowdedelevatorfartz on 08.31.20 at 9:05 am
@#143 tater

Soooooo. We have a new economist providing a new economic theory on how the economy will work.
And it’s called Modern Monetary Theory.
I guess all the other economists were dreadfully wrong and can go home now?
————————————————————-

Why don’t you read a bit about it and make up your own mind?

But, it’s not really new, it’s not just one economist and it has made better predictions of the economic outcomes for Japan, the eurozone and North America post-GFC than the hard money folks or keynesians. That makes it useful.

#163 Jorge on 08.31.20 at 10:27 am

Garth, do you recommend “crystallizing” gains? I.e. selling ETFs and re-buying them, to incur the tax hit now rather than later?

Depends on how much you like paying tax. – Garth

#164 YouKnowWho on 08.31.20 at 10:29 am

#158 Al

Ontario’s Rent Freeze for 2021 will be a body blow to the Apartment REITs

Why? Lower interest rates have reduced financing costs. – Garth

—————-

I still don’t understand this whole issue boys and girls.

IF housing is a human right in Canada now, than how can people be evicted for any reason? Also, why must they pay for this human right?

Has any case been pushed up to the highest court yet? I don’t think a ruling has been made on this point. These two points are clearly a conflict.

Someone explain to me HOW can something be a human right, but that right has to be paid for monthly?

“Sir, you have the human right to not be discriminated against. That will be $750 per month please.”

See what I’m saying? Something does not compute here.

Nobody has the right to occupy someone else’s property. BTW, shelter is a right, says the UN. Not housing. – Garth

#165 The West on 08.31.20 at 10:29 am

I thought the economist term was “guns and butter”.

EOT is going to be Prime Minister….not in this lifetime. The Establishment don’t want him, they want the obedient little mask wearers who know their role and do as they are told. As long as the population has no wealth they are no better than serfs in Feudal Europe.

Still continue to predict you oppressors from the east going to have your hands full out here in the western confederacy by next spring.

Guns and gold baby! :)

The establishment does not elect the government. Voters do. And you are in the fringe minority. – Garth

#166 MikefromCorbeil on 08.31.20 at 10:34 am

#142 MikefromCorbeil on 08.31.20 at 7:38 am
Still don’t agree on taking out a LOC, nothing wrong with having say 10k in cash on hand. Can be used for deals that arise or emergencies, not having to pay any bank interest on that.

Agreed. Furthermore, imagine saving up before you actually buy something?

What? that could take months! I need it now

——-

Well, the issue is that it’s “dead money”. So that $10k could be invested and be $20k in 10yrs (@ 7%), or it could sit and erode in a bank account for 10yrs. I believe the idea is to let the bank’s money erode… Then after a recovery, take the $10k you would have had sitting and put it against your LOC, which by then would have cost you nothing…
——-
Dead Money is better than no money.

Thousands of lost souls are paying $40k for $20k RV’s and boats because they finance them over 20 years.

I know I am just old fashioned..but I sleep well.

#167 Gg on 08.31.20 at 10:50 am

Garth, do you recommend “crystallizing” gains? I.e. selling ETFs and re-buying them, to incur the tax hit now rather than later?

Depends on how much you like paying tax. – Garth

If you are a long term investor you will pay more tax but still have more money in 10 years if you just do nothing

Not if the inclusion rate keeps rising. – Garth

#168 Do we have all the facts on 08.31.20 at 11:00 am

Garth I fully concur with changing the focus to economic recovery but that is not what is happening. Our governments, most media outlets and many contributors to this blog continue to focus on the number of Covid 19 infections and the need to reduce infections before we can return to normal.

My point was that we now understand the actual risk of mortality associated with the Covid 19 virus and how that risk can be reduced. This continued focus on an increase in infections is overshadowing the reality that citizens without two or more co-morbidity factors and who avoid prolonged exposure to the Covid 19 virus have virtually no risk of death.

Your mention of the increasing number of people infected by the Covid 19 virus has contributed to the perception that restrictions must be continued in Canada until a vaccine is available. This perception is not based on facts.

If you want to accelerate recovery of our economy begin by examining what the actual objectives of current restrictions are. The current rate of infection for those tested is 2.4% and the mortality rate within the population without co-morbidity factors and without prolonged exposure to the virus is O.O01%.

Based on these facts it seems logical to question why the majority of Canadians are still living in fear of a second wave or of coming into contact with the virus.

It is difficult to stimulate economic recovery with so many restrictions still in place. The “better to be safe than sorry” approach has become a serious liability that may take decades to overcome.

#169 YouKnowWho on 08.31.20 at 11:39 am

Nobody has the right to occupy someone else’s property. BTW, shelter is a right, says the UN. Not housing. – Garth

———

I hear you Garth.

But the Canadian laws don’t say shelter.

They specifically say housing.

https://www.chrc-ccdp.gc.ca/eng/content/statement-fundamental-human-right-chrc-welcomes-national-housing-strategy-legislation

http://www.ohrc.on.ca/en/right-home-report-consultation-human-rights-and-rental-housing-ontario/housing-human-right

So I ask again, what other human right must be paid for on monthly basis?

I’m just asking to make sure the “math” works on this in both directions of the equation.

#170 joblo on 08.31.20 at 11:48 am

https://edmontonjournal.com/news/politics/wexit-co-founder-wants-alberta-to-become-part-of-the-u-s

Awesome

#171 ImGonnaBeSick on 08.31.20 at 11:52 am

#165 MikefromCorbeil on 08.31.20 at 10:34 am
#142 MikefromCorbeil on 08.31.20 at 7:38 am
Still don’t agree on taking out a LOC, nothing wrong with having say 10k in cash on hand. Can be used for deals that arise or emergencies, not having to pay any bank interest on that.

Agreed. Furthermore, imagine saving up before you actually buy something?

What? that could take months! I need it now

——-

Well, the issue is that it’s “dead money”. So that $10k could be invested and be $20k in 10yrs (@ 7%), or it could sit and erode in a bank account for 10yrs. I believe the idea is to let the bank’s money erode… Then after a recovery, take the $10k you would have had sitting and put it against your LOC, which by then would have cost you nothing…
——-
Dead Money is better than no money.

Thousands of lost souls are paying $40k for $20k RV’s and boats because they finance them over 20 years.

I know I am just old fashioned..but I sleep well

—-

I don’t understand? How is it no money if, instead of sitting in your savings account at the bank, it’s sitting in your margin account invested in the same bank’s stock?

You can withdraw from investment accounts fairly easy… Takes a couple days, rather than a couple minutes.. so there is some “planning” required I guess, but what’s a couple days to the grand scheme?

I guess if you’re going to spend the money on toys, it wasn’t really an emergency a fund then, so I think the RV argument is a separate thing …

#172 YouKnowWho on 08.31.20 at 11:54 am

Garth,

Also, this point specifically..

“Nobody has the right to occupy someone else’s property.”

Once you have allowed someone to take tenancy for housing purposes, can it not be argued that since housing is a human right, you have enabled that human right? As such, by doing otherwise, you are in fact taking away the human right – and you are not allowed to do so.

It is my human right to not be discriminated against. Therefore, you are obligated to respect that human right. If you don’t, you are found guilty of a human rights violation. Question of asset does not matter, as question of human right clearly supersedes it.

By granting an individual a human right of housing, you now, as a landlord, surely do not have the power to take that human right away.

How can a landlord be granted a power or authority to take away a human right of the land?

This is a new law, and it hasn’t been tested yet. But there is no doubt that it should be – because it is currently not clearly defined as to what the reach and scope of the law is.

#173 YouKnowWhat on 08.31.20 at 11:58 am

Garth,

Surely that’s the math on the housing human right question.

A landlord is not obligated to grant me the human right of housing.

However, if they so choose, without doubt they are not entitled to violate that human right through eviction if I do not pay for the human right I am granted by the law of the land.

Human rights are not granted on a basis of a monthly subscription cost.

It is time for this law to be escalated up the courts, argued, and answered.

#174 mike from mtl on 08.31.20 at 12:23 pm

@#150 ImGonnaBeSick on 08.31.20 at 8:41 am

Well, the issue is that it’s “dead money”. So that $10k could be invested and be $20k in 10yrs (@ 7%),
/////////////////////////////////////////////////////////////

That’s a huge assumption and simplification there. In theory yes, if there was some magic financial investment that, without limits, tax free, could compound 7% monthly zero risk – then sign me up!

We know real-world investing is not like that – there’s ups and downs, taxes, limits and so on. Plus putting all your liquid cash and probably net worth on public stocks is no smarter than throwing it at ‘the house’.

The 10k number is what I use. Since I have zero debt I let cash accumulate up to that before I move it. That cash would be for: purchases, fun money/trips (sadly not this year), TFSA 6k, emergency cash. Why borrow (LOC) or sell off stocks (9,99 each) possibly incurring cap gains / keep track on TFSA next year, for your own money?

@#155 Ace Goodheart on 08.31.20 at 9:08 am

Right on.

#175 the Jaguar on 08.31.20 at 12:23 pm

Hot off the press:

OSFI announcement this morning. ( Which is really just OSFI carrying out the marching orders of those mean old Banks )

Loans granted payment deferrals before August 31 are still eligible for the current six month special capital treatment.
Loans granted payment deferrals after August 30 and on or before September 30 will be eligible for the special capital treatment outlined in March for up to three months.
Loans granted payment deferrals after September 30 will not be eligible for the special capital treatment.

What does it mean? Existing deferrals to be honoured, thirty day window to capture any promises made or conversations started to a maximum of three months, then the party is over.
That sound you hear is the truck backing out of the loading dock. Carrying a big load of reality. Be prepared for the ‘change’ or ‘be run over by it’.

Amen.

#176 Bill on 08.31.20 at 12:25 pm

DELETED

#177 Cabbagetown Carly on 08.31.20 at 12:26 pm

146 – UtterlyConfusedCanadian

I find it a bit “rich” that those with taxpayer DB pensions are the ones talking about raising the inclusion rate as if it doesn’t affect the middle only the ultra wealthy. What they fail to understand is that there are circumstances where the bulk of the retirement is in non-registered accounts for some folks. Anyone lost a non-taxpayer back DB plan? Sears? Nortel? How is this fair?
_______________________

You and crowdedfartz make the same kind of uninformed comment about public sector DB pensions. You are both either lazy or dumb or both. Do some actual research, or please just go away.

First of all, in the government sectors, almost all such pensions are NOT backed by taxpayers in any way. No bailouts. No guarantees. They are outsourced to third parties who manage them, and the risk of underperformance is there for everyone. No taxpayer bailouts. The terms and employer contributions are negotiated with each contract cycle under Canadian labour law. It’s a contribution contract, and that’s it.

The only problems with such pensions has been when meddling governments, like the conservatives under Mike Harris, think the plans are doing too well in good times and tell them to cut back contributions. (That would be like Garth telling you never to invest in a balanced and diversified portfolio or buy funds at low times like March 2020 and always sell when the market drops.)

Unfortunately, conservatives like Mike Harris and Jason Kenny never passed Economics 101 so those DB plans always miss the chance to build a buffer during good times and get stuck in bad times with losses. The opposite of good fiscal management that Garth promotes here.

Private sector DB pensions that drop in value or fail are ALWAYS, 100% of the time, the result of SELFISH, GREEDY, INCOMPETENT CORPORATE MANAGEMENT that shareholders never bother to monitor properly, or just do not care about.

THAT is why those retired workers get screwed at Nortel etc… Underfunded pensions are a common short-term financial tactic in the private sector. It should be a criminal offence IMHO.

Yep, the private sector sure does a great job with DB pensions!

Er….nope.

Please, please, please…….anyone here who wants to bash public sector workers and DB pensions, please do just a few minutes of research before spilling your ignorance on this blog. It’s embarrassing for you.

#178 Yukon Elvis on 08.31.20 at 12:37 pm

Nobody has the right to occupy someone else’s property. BTW, shelter is a right, says the UN. Not housing. – Garth
…………………………

BTW where is this shelter located and who provides/pays for it ? According to the UN of course.

#179 Masks really do make some people more attractive on 08.31.20 at 12:44 pm

#168 YouKnowWho on 08.31.20 at 11:39 am
Nobody has the right to occupy someone else’s property. BTW, shelter is a right, says the UN. Not housing. – Garth

———

I hear you Garth.

But the Canadian laws don’t say shelter.

They specifically say housing.

https://www.chrc-ccdp.gc.ca/eng/content/statement-fundamental-human-right-chrc-welcomes-national-housing-strategy-legislation

http://www.ohrc.on.ca/en/right-home-report-consultation-human-rights-and-rental-housing-ontario/housing-human-right

So I ask again, what other human right must be paid for on monthly basis?

I’m just asking to make sure the “math” works on this in both directions of the equation.

/////////

I pay my municipality quarterly for my water supply. I pay for my groceries, every damn time. Are you suggesting that I shouldn’t?

#180 billyjo on 08.31.20 at 12:44 pm

I’m confused about taking capital gains now…

Let’s say I have about 500k in a balanced mutual fund in an unregistered account, of which about 250k is capital gain.

I’m working, and in a high tax-bracket.

Should I sell everything to crystalize the capital gains?

#181 KNOW IT ALL on 08.31.20 at 12:47 pm

More HELICOPTER CASH on the way!!

Thank You – Trudeau’s “FREE-land”

#182 IHCTD9 on 08.31.20 at 1:11 pm

#143 Tater on 08.31.20 at 8:07 am

The idea isn’t to adjust taxes after inflation starts, but to change the budgeting process to focus on inflationary forces rather than on what the outcome will be to the debt. In the US, it would mean that the CBO would look at the inflationary pressures that spending proposals would cause, and look at how to set taxes to minimize that.
_______________________

Canadian Governments MUST find a way to spend piles of money without raising taxes or they’re toast. It doesn’t sound like MMT would make it very easy for them if they have to make a tax increase decision up front for inflation that hasn’t even happened yet. Right now they can spend like crazy and let the BoC worry about the inflation – pretty easy.

Does MMT assume the government will control the central bank then? Could the government set interest rates along with printing loonies?

#183 Utter BS on 08.31.20 at 1:24 pm

#176 Cabbagetown Carly on 08.31.20 at 12:26 pm

So when billions in tax dollars are used to match contributions dollar for dollar, that’s not tax payer backed? When there are billions in shortfalls and tax payer money is routinely used to “top up” basket case pension funds, that’s not backed by tax payers that aren’t benefiting from gold plated pensions that cannot stand on their own two feet?

I’m shocked that Garth didn’t blast your ridiculous post.

#184 YouKnowWho on 08.31.20 at 1:38 pm

#178 Masks really do make some people more attractive

I pay my municipality quarterly for my water supply. I pay for my groceries, every damn time. Are you suggesting that I shouldn’t?

———————–

“access to water”
“physical and economic access at all times to adequate food or means for its procurement”

Right to housing is clear and different.

The issue is that the law appears to require interpretation. It appears that it is not constitutional, and can be reversed. There is a lot of fluff around it that it is not individual – but how can it not be? It’s a human right.

This needs case law to be applied and enforced, and I think that this current pandemic situation will create sufficient hardship that such cases will need to be brought through courts for enforcement.

Certainly, I highly doubt that any high court will put a human right to housing behind landlord’s right to be paid. We’ve already seen government websites clearly highlight that “YOU DO NOT HAVE TO PAY YOUR RENT”. This would just make it official.

#185 Bill on 08.31.20 at 1:45 pm

The establishment does not elect the government. Voters do. And you are in the fringe minority. – Garth
———————————————
And the reason we get the same result?
Not sure if it matters who gets in.
The system becomes more desperate to keep afloat. ZIRP…free money, massive deficits that are impossible to pay off. A few upticks in the debt market and then try and service that…..maybe a while out…..pretty good can kicking so far.
Hopefully the stock market right and we can see what its discounting.

#186 YouKnowWho on 08.31.20 at 1:45 pm

#177 Yukon Elvis

———–

Serious questions about this. We can’t answer them, but we can certainly agree that a human right goes right to the front of the line.

Surely no contract or lease can be put in front of a human right.

Surely no right to property can be put in front of a human right.

Surely no right of landlord can be put in front of a human right.

BlogDogs – be sure to highlight on here any Human Right housing cases you see rulings on.

I actually think that this will likely be argued in current disputes with landlords over what just happened past 6 months. All these evictions – are now in a housing as a human right environment. It’s a whole new ball game – surely.

#187 YouKnowWho on 08.31.20 at 1:47 pm

#174 the Jaguar

Buckle your seat belts.

It’s going to be an interesting winter.

#188 MF on 08.31.20 at 1:55 pm

#153 YouKnowWho on 08.31.20 at 8

Thank g*d Garth monitors the way he does, otherwise this place like all other comment sections in the online world would degenerate into a boiling cauldron of name calling, radicalism, racism, and conspiracy theory garbage.

I can only imagine the pure drivel he screens out (including your comment about Covid).

I am actually surprised with some of the stuff that is allowed to get posted daily on the blog.

Anyways your Covid comment is hilarious. To be clinically dead your heart has to stop. Does that mean we should put cause of death for everyone as a heart attack? When someone dies of the common cold after fighting the AIDS virus for decades does that mean they died of the common cold?

Do you understand now?

MF

#189 Faron on 08.31.20 at 1:56 pm

82 Nonplused on 08.30.20 at 7:03 pm

Why are you posting this on my blog? – Garth

Dear Garth,

You need to do more here. Please fact check Nonplused’s garbage before posting it. The autopsies (there were two) of George Floyd show homicide as the cause of death full stop. While there are always very complex factors involved in most police killings, the acts Nonplussed refers to, especially George Floyd’s death, are examples of the radically skewed instances of police killing unarmed black people. Most of those people are men.

Nonplused is echoing Tucker Carlson and other US right wing media rumour mill musings that can appear as innocent questioning of accepted fact but act as a deftly deployed wedge that is being driven deeper and deeper between the American people. This wedge will spread to Canada given a bit more time if the media landscape is allowed to degrade and if these radically erroneous voices are given a stage. The partitioning of the citizens of democracies serves certain persons. In the current case of the US, it serves Trump and his well-heeled backers who profit from division either monetarily or through increased political power. Although people of Nonplused’s kind think they are being served by Trump, they are actually serving as pawns in Trump’s lust for power and personal recognition.

I appreciate that you are trying to clean up the comments section and I certainly am not asking for reinstatement. But, I still read this stuff and when I see this kind of trash make it through what is ostensibly your filter, it reflects poorly on the community of commenters as well as on you as a person who otherwise shows deep caring for their country, for all of its peoples and for the well being of the world as a whole.

Thank you for reading this and I sincerely wish you the very best. You do a lot (for free) for the people that come here. I recognize and admire that public service.

–Faron

#190 PastThePeak on 08.31.20 at 2:05 pm

#83 Pete from St. Cesaire on 08.30.20 at 7:04 pm
#67 Pete from St. Cesaire on 08.30.20 at 5:44 pm
I hope you blog-dogs have read about the CDC revising their statistics to say that 94% of those previously reported as having died from Covid had a serious co-morbidity issue.

This week the CDC quietly updated the Covid number to admit that only 6% of all the 153,504 deaths recorded actually died from Covid.

That’s 9,210 deaths.

The other 94% had 2 to 3 other serious illnesses and the overwhelming majority were of very advanced age; 90% in nursing homes.

You can be sure that most of those other 6% would have been diagnosed with some other life-threatening illness this year had this ‘pandemic’ never occurred.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Here is the link to the CDC. …
++++++++++++++++++++++++++++

Wow. Talk about trying to make up your own story! The CDC website on the link you provided doesn’t state what you babbled about at all.

It states “Table 3 shows the types of health conditions and contributing causes mentioned in conjunction with deaths involving coronavirus disease 2019 (COVID-19). For 6% of the deaths, COVID-19 was the only cause mentioned. For deaths with conditions or causes in addition to COVID-19, on average, there were 2.6 additional conditions or causes per death.”

If you actually look at the data mentioned (I just did – isn’t hard – took a few minutes), you will see that conditions are often quite vague, like “respiratory illness” or “pneumonia”. Did you know that Covid causes pneumonia in many patients? No doubt it was a condition as of death and recorded as such.

It doesn’t state that the deceased had these other health conditions “before” being admitted for Covid treatment – only that these conditions were noted on the death coding.

The data makes no mention at all of nursing homes.

People only see what they want to, and make up the rest, I guess…

#191 Faron on 08.31.20 at 2:06 pm

Garth, I don’t mean to waste your time, but these facts are important.

Here are the debunk’s of Nonplused’s claims that show that Nonplused is pulling from a broad pool of falsehoods:

https://misbar.com/en/factcheck/2020/08/25/no,-george-floyd-didn%E2%80%99t-die-from-fentanyl-overdose

https://www.snopes.com/news/2020/06/24/rayshard-brooks-criminal-past/

https://www.factcheck.org/2020/08/posts-distort-facts-on-jacob-blake-charges/

#192 PastThePeak on 08.31.20 at 2:31 pm

#130 Ronaldo on 08.31.20 at 12:04 am
I found this link regarding info on Covid deaths and underlying medical conditions. Thanks Pete.

https://www.msn.com/en-us/health/medical/cdc-94-25-of-covid-19-deaths-had-underlying-medical-conditions/ar-BB18wrA7
+++++++++++++++++++++++++++++

You, and the author, are taking a spin on information not outlined in the data. The “health conditions and contributing causes” doesn’t equal to a pre-existing condition in many cases. The data is simply an aggregation of the coded conditions upon death. It doesn’t make any claim to what a patient had before contracting Covid.

#1 is “Influenza and Pneumonia” (this is the standard categorization, and here most would be pneumonia). Covid causes pneumonia in many severe cases, so it is not a surprise it was the number 1 associated “health condition”. It doesn’t mean it is a true pre-existing comorbidity like diabetes.

Respiratory failure, cardiac arrest, heart failure and renal failure makeup most of the categories. Do these sound like “pre-existing” comorbidities?

#193 crowdedelevatorfartz on 08.31.20 at 2:31 pm

@#146 Tater

I’ve been busy reading about Trudeau’s “Basic Income for all” to pay attention of the theoretical ramblings of another in a long line of economists that regard people as widgets without souls.

Taxes taxes taxes, uppa uppa uppa.

One wag has suggested that the only way to pay for Universal income for all would be a…. 49% flat tax for everyone…….

The Liberal social experiment will cost hundreds of billions.
I guess that’s why Ontario cancelled theirs….. affordability?

#194 crowdedelevatorfartz on 08.31.20 at 2:42 pm

Universal Basic income extravagant costs.

https://www.theglobeandmail.com/business/article-liberals-revised-covid-19-emergency-benefits-resemble-a-national/

#195 UtterlyConfusedCanadian on 08.31.20 at 3:29 pm

#176 Cabbagetown Carly on 08.31.20 at 12:26 pm
146 – UtterlyConfusedCanadian

I find it a bit “rich” that those with taxpayer DB pensions are the ones talking about raising the inclusion rate as if it doesn’t affect the middle only the ultra wealthy. What they fail to understand is that there are circumstances where the bulk of the retirement is in non-registered accounts for some folks. Anyone lost a non-taxpayer back DB plan? Sears? Nortel? How is this fair?
_______________________

You and crowdedfartz make the same kind of uninformed comment about public sector DB pensions. You are both either lazy or dumb or both. Do some actual research, or please just go away.

—-

CC are you having a bad day? Don’t you think your response is a little over the top? Maybe its time for a drink….In any case, the federal DB pension is a 50:50 deal. 1/2 from the employee and half from the GoC (the employer).

So where does the government get its money? Is there a magic money tree that isn’t the tax payer? Please enlighten us all, since from its general knowledge that the taxpayer’s money feeds the government, pays the public employees and hence, its the taxpayers money which pays for both parts of the pension submission.

In any case, you missed the point. There are many private individuals who self fund their retirements in non-registered accounts because of circumstances beyond their control and inappropriate government rults. And its extremely unfair to target them with a higher inclusion rate without targeting the larger population.

#196 Drinking on 08.31.20 at 8:16 pm

#125 Bill

I feel the same way; was brought up that way, and we always had enough for the tough times we went through!

#197 Bark on 08.31.20 at 9:08 pm

I fully in agreement with you until the last line. Gold, guns, bitcoin, silver and a 6 month supply of rice and beans.

#198 BBQ on 09.01.20 at 12:33 am

What about Mutual Fund TFSA

#199 Bill on 09.01.20 at 11:48 am

#197 BBQ
I avoind MF like the plague. Fees are killer over time.
In fact 20k invested at 8% return over 30yrs is $200k… At 2.5% mer they get near $100k…going by memory..you can look it up.
Etfs ect way lower.
Garth mentioned these high fees

#200 ivan the moderate on 09.01.20 at 1:03 pm

In a crisis situation the banks could pull out the LOC.
Or greatly increase the interest rate on them.

What are the risks of that?
And does it still makes sense to have at least 2-3 month expenses on hand, instead of previously suggested 6 month?

#201 Apocalypse2020 on 09.01.20 at 6:30 pm

A wiser word has never been spoken, good for you Garth.

Calamity lies ahead.

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