The airheads

Covid killed tourism. And that slaughtered Airbnb. The company says bookings have started to reappear, but the revenue hit was about $1 billion. That temporarily put the kybosh on plans to take the room-sharing giant public, making the founder a bazillion.

Some online, shared-economy ideas are winners. After all, who doesn’t love the dancing nymphs on TikTok? But Airbnb turned over the years from a way to make money renting your back bedroom to creepy strangers from Moncton to a rapacious, greedy monster upping property values and punting renters.

Once it became evident you could buy a house or a condo, sign up for short-term rentals and make $200 a night renting it out, no longer did it compute to have pesky tenant paying two grand for a whole month, expecting you to actually fix things and then maybe decide to stop paying and squat. Investors competed for high-rise units and whole houses to run Airbnb, and soon large-scale commercial hosts were dominating the platform. In Toronto alone, pre-virus, there were about 7,500 properties in that category (of 21,000 listings) – nobody lived there permanently. They were not room-sharing principal residences, but ghost hotels.

So Airbnb (a) displaced long-term tenants, (b) caused rents to increase by sucking off the rental pool, (c) seriously hurt hotels which (d) caused many lower-income people to lose their hospitality jobs, (e) decreased the supply of housing for residential uses in most cities and thus (f) helped inflate property values making it harder to families to buy. Critics also claim the sharing platform caused an unwelcome surge in tourism in many places that don’t want it. Paris. New York. Venice.

What a legacy.

Cities like Vancouver, Montreal and (finally) Toronto have adopted rules that Airbnb hosts must live in the place they’re renting out, register and collect tax. But so far the platform continues to list thousands of places that are just fake hotels. Lots of owners still flog their units, pocket the cash, pay no tax and are usually in violation of condo bylaws.

Well, Airbnb’s controversial CEO, Brian Chesky, says he’s sorry. All the criticism has merit, he adds. The company will change its ways.

“We grew so fast, we made mistakes. We drifted. We really need to think through our impact on cities and communities.” He went on to say that “Airbnb needs to change. We need to go back to basics — to what really made us successful in the first place.”

Chesky says priority will be given mom-and-pop hosts in the future. The company will ink deals with cities limiting the number of nights rentals can occur. It will comply with enhanced municipal regulations. And it will assess and mitigate its impact on local property values.

In practical terms, Airbnb bookings have plumped again as the economy reopens but a lot of hosts are bailing out, selling properties and adding to a swell in property listings. This is helping to push down rents in places like Toronto while Covid whacks condos and inflates the burbs.

So, yeah, it’s a changed world. Airbnb kills hotels. Uber massacres all the taxi drivers. Amazon and Wayfair destroy the physical retail sector. Zoom steals your office. AI might finish off your job.

And here we thought the pandemic was the problem. Silly us. The millennials did it.

         

Are you a female living in BC or Ontario?

Hmm. Odds are (says a new Nik Nanos poll) you think the Trudeau Libs should continue to let it rip, spend money, provide social support and care not about the deficit. Support for this approach peaks on the west coast (of course) and tanks in Alberta (naturally). A majority of men want less spending and lower federal deficits. Most women are the opposite – more spending if it means better support. Overall 86% of Canadians oppose government even trying to balance its books if it means a cut in benefits.

Wow. Trudeau gets a pass, it seems. And now that we’re just twelve sleeps away from the Throne Speech, this pretty much paves the path of the nation.

Ottawa will spend maybe $400 billion more than it collects this year. That’ll push the accumulated debt to over $1 trillion. Economists figure deficits will run at least $100 billion each year the Liberals stay in power, which compares with the worst-ever previous cock-up – Harper’s $56-billion hole during the credit crisis.

The big speech will outline more spending, a green initiative and measures to address the wealth gap, including (probably) a form of guaranteed annual income, or UBI. If you have wealth and think the role of government is not to remake society, you’ll hate it. But the real hit could come with the first Chrystia budget a few months later. New tax bracket. Capital gains inclusion rate hike. Corporate tax jump. Big tech attack. More debt, taxes and spending than you ever thought possible.

Five years ago Justin Trudeau said the budget would balance itself. The pandemic just taught us something else about him. What a revealing little bug.

187 comments ↓

#1 TurnerNation on 09.10.20 at 2:01 pm

Tiff – such an upper-upper crust name (unlike Biff). I expect he sailed through on a Harvard rowing scullership err I mean scholarship.
….

A look at the Tourism Industry and Travel Rights in Kanada.

– Air Canada closed permenantly 30 stations and rules. Gone for good. So too will be many tourists on these routes.
– Porter Airlines yet to re-open
– Atlantic Canada (Least Coast) has been Balkanized by our global rulers, shut off, with a 2-week lockdown if you dare visit. Under penalty of law.
A virtual Berlin Wall. To keep us safe. West Bloc and East Bloc of Kanada. Our global rulers love walls, always talking about them – eg. down south, middle east.

***

– Hard to believe it, so many Kanadians scared to shake hands. Maybe a cop will jump out and ticket them – if not too busy with the dozen or so weekly shootings in Toronto. We learned this in kindergarten: Wash your hands before touching your face.
The government shut down businesses over this one simple rule. No longer are we allowed care and responsibility over our own health; no we are toddlers, sub-kindergarten. The government controls:
How you breathe (and no public singing is permitted -for your health Comrade)
Where you stand (on your Mark, to transact commerce)
How you walk (6-feet away ya filthy animial)
How you assemble. You are placed into bubbles.

And much more. Virtue signalling opportunities abound: your CV ritual schedule, how clean are you! Social media pictures and tags: how well you follow the rules! Kindergarten kids get awards for such obedience.

***
“Today __TurnerNation___ learned how to put the toys away after playtime. Gold Star Award”
Next up the Maskmanship award…”The Freedom Mask”: wearing it in the hopes your freedoms will be restored. Don’t hold your breath. The New System is built upon social-corporate tyranny worldwide. Proof: we no longer require a sitting parliament in this country.

#2 Alex on 09.10.20 at 2:07 pm

What’s wrong with UBI? If it comes I can quit my job and won’t even pay taxes…

;-)

#3 Millennial Realist on 09.10.20 at 2:12 pm

“The big speech will outline more spending, a green initiative and measures to address the wealth gap, including (probably) a form of guaranteed annual income, or UBI. ……….New tax bracket. Capital gains inclusion rate hike. Corporate tax jump. Big tech attack.”

Plus inheritance taxes and measures to challenge our oil dependency.

The troubles ahead are far too serious, Paleos. In large part thanks to you and the lives you have lived, thinking that it will be the good ol’ days forever. We cannot afford NOT to consider serious and radical measures, and implement them quickly.

We’re now under 14 days to just the small beginning of epic change.

Be part of the change, Boomers.

Or be run over by it.

#4 YouKnowWho on 09.10.20 at 2:12 pm

What a revealing little bug.

YES!

It has revealed a lot about many things.

Our politicians.
Our scientists becoming politicians.
Our liberties.
Our media.
Our ability to be controlled with fear.
Our true state of our collective health.
Consequences of our choices and actions on our health.

I don’t think the bug is done.

The only question is, will the sequel be as good or better than the original or will it be lame?

More importantly, will the sequel play in the theatre near you? What’s the movie title ahead? Oh yeah…

“Second Wave”
Siskel and Ebert give it 2 Thumbs Up from beyond.
“You’ll be so scared, you’ll #2 yourself!”

#5 nlabixa on 09.10.20 at 2:17 pm

first again??? just fixed my internet acct/connection, hoping this works during my new 2 year arrangement

#6 ElGatoNerodeYVR on 09.10.20 at 2:17 pm

An old saying heard a while ago:A village with no dogs is no village at all.
Quite appropriate nowadays when the “woke” movements in their nativity have forgotten that a law not enforced is no law at all. Unfortunately our governments have silently encouraged them by not enforcing the laws at all levels.

#7 ElGatoNerodeYVR on 09.10.20 at 2:18 pm

Meant “Naivity”

#8 YouKnowWho on 09.10.20 at 2:22 pm

#140 Mark the Carney, Carney

MtC,C, yes.

Escape, not escape – let’s not use those terms. Indeed, I’m starting to mix up who escaped and who has not escaped, as we’re all stuck on this rotating ball in space.

Let’s use simpler terminology, how does protected/not protected sound? Assisted/not assisted? Subsidized/not subsidized? Looked after/not looked after? Preferred/not preferred?

Or how about what I think we’re all aiming for? Survival of the fittest? But how much of the pie can the fittest eat?!

You ever see a hockey game keep going past 3rd period when Canada is beating the other team 12:0?

Only this game has no reset. And we keep watching this hockey game go on and on and on as the score is 143,654,000,000:1 for some individual guy who has become the “disruptor”.

For every disruption it has shifted earnings and bargaining power upward toward a single individual.
We hail disruptors as innovators. And a case can be made, I guess. But for every innovation Amazon has given us, it has innovated a way for us to be lazier, less active, have less opportunities, be contractors, and have others do the fetching of our goods for us. It has without doubt created a servant class who fetch those goods.

And if you look up “servant” in a thesaurus, you’ll find “slave” right there at the top next to it. I guess someone needs to do some work rebranding that. Helper, attendant, assistant is so much better, right?

Maybe you’re right. Maybe the right word is ESCAPE, like the slaves in Spartacus?

#9 Steerage on 09.10.20 at 2:23 pm

Turnernation and Millennial Surrealist both need to get off CERB and get a life.

#10 Dolce Vita on 09.10.20 at 2:24 pm

“What a revealing little bug.”

COVID or Trudeau?

You left that dangling My Liege, I’m just trying to nail it down.

#11 Generation Screwed on 09.10.20 at 2:26 pm

#3 Millennial Realist on 09.10.20 at 2:12 pm

Plus inheritance taxes

….

You better hope not…. that’s the only chance you’ve got dudette!!

Boomers will be long gone… but you’re screwed for ever

#12 FreeBird on 09.10.20 at 2:27 pm

As usual I’m not with public majority and as a woman living in Ontario decidely don’t support JT or give him (or any political leader) a pass.

On a diff topic talking to others seems more snowbirds looking to sell RE (Arizona, Florida etc) due to travel bans and general fear from perceived unrest and maybe unsafe conditions in US right now (not just health.) Are there stats on this? Not just on snowbird sales but perceptions. Interesting to see.

#13 Bill on 09.10.20 at 2:27 pm

“Overall 86% of Canadians oppose government even trying to balance its books if it means a cut in benefits.”

That’s what happens when you have fools with no long term view. Most of these people up to their A$$ in debt? Likely…FREE money for all you see pretty much anyone can be bought.
Give it some time like 5 years…then all these peeps can tell me it was a great plan.

#14 Piano_Man87 on 09.10.20 at 2:34 pm

What a terrible political landscape we’ve cooked up.
JT: Spendthrift, anti-wealth, ignores sound financial advice.
Singh: Like JT, but even more spend-happy.
O’Toole: Starting to sound a lot like Trump (“Canada First,” get tough on China, “self sufficiency.”)

All O’Toole had to do was sound like a sensible guy with sound financial ideas, and not be a socon. He might blow it. Canadians do not want our own Trump. Our identity has always been a mystery to us, but one thing we are sure about is that we are most certainly not Americans!

#15 MF on 09.10.20 at 2:34 pm

Lol.

They asked a whole 1000 people.

Read it yourself:

https://secureservercdn.net/198.71.233.47/823.910.myftpupload.com/wp-content/uploads/2020/09/2020-1707-Bloomberg-Aug-Populated-Report-with-tabs.pdf

What’s 1000/37 million (our population) ?

Conclusions: nothing can be realistically concluded.

MF

Results are consistent with a recent Angus Reid poll. Maybe you should show us your data. You know, just to be taken seriously. – Garth

#16 Stone on 09.10.20 at 2:42 pm

Soooooo….move to Scandinavia, pay less taxes, and get better and more transparent services. Do I have that right?

#17 Classical Liberal Millennial on 09.10.20 at 2:46 pm

Is anything truly universal with the Liberals or would they need to hire thousands of bureaucrats to make sure a Mincome was done on a sliding scale..

#18 crowdedelevatorfartz on 09.10.20 at 2:49 pm

@#3 Millennial dreamist

“Be part of the change, Boomers.
Or be run over by it.”

++++
Give your head a shake.
Trudeau and his silly little enviro-nazis will spend and spend and spend and tax and tax and tax.

The result.
Businesses will shut down. Investors will stop spending money, Rich people will leave…..
And all the fools that believed his “Sunny days” bullshite…..will be unemployed, poorer and ….eventually angry.
They will toss the Libs to garbage heap in the next election after this ridiculous “buy the votes” crap.

Pitchforks and torches will look very becoming on Millenials outside Parliament ….dont you think?

#19 Dolce Vita on 09.10.20 at 2:51 pm

You can rent AirBnB in Venezia, 26% booked as of this week.

Venezia has been reduced to the World’s Disneyland where the stuff is actually for real and it took a millennia or so to make. I have watched over the decades La Serenissima sell her soul to tourism, very sad.

Venezia’s Mayor talks a good story but in the end DEEDS & ACTIONS SPEAK LOUDER THAN WORDS. AirBnB is still in Venezia.

No one can afford to live there anymore, only the tourists. Greed (and since it’s Italia, probably bribery) reduced Venezia to where there are few residents and almost all workers no longer live there but commute from Mestre or Mogliano Veneto on the Mainland. The few that can afford to rent there have to live on Giudecca and that’s it or Lido.

Catch a train from Santa Lucia north at quitting time and it will be packed with workers for Mestre or Mogliano Veneto.

Personally I hope AirBnB go under, for good. They contribute nothing to the community, hire no workers, the list goes on…GREED is all it is about. The sooner these ne’er do wells are put out of “business” the better off cities will be for everyone, save the GREEDY.

#20 YouKnowWho on 09.10.20 at 2:51 pm

Here is a random piece of info I didn’t know until doing some reading into GMO recently. Epicyte, ain’t that something. Did you guys know? I thought it was all about making crops more robust, resistant, higher yielding. Instead it’s a real case of Plants Vs. Zombies!

>>>
In 2001, Monsanto and DuPont bought a small biotech company called Epicyte that had created a gene that makes the human male sperm sterile.

(This from a 2001 article)
Contraceptive corn is based on research on the rare
condition, immune infertility, in which a woman makes
antibodies that attack sperm.

‘Essentially, the antibodies are attracted to surface
receptors on the sperm,’ said Hein. ‘They latch on and make each sperm so heavy it cannot move forward. It just shakes about as if it was doing the lambada.’

Normally, biologists use bacteria to grow human proteins.
However, Epicyte decided to use corn because plants have
cellular structures that are much more like those of humans, making them easier to manipulate.

The company, which says it will not grow the maize near
other crops, says it plans to launch clinical trials of the
corn in a few months.

#21 The West on 09.10.20 at 2:56 pm

Needless to say, if Freeland’s front, the Piously Adorable Justin Trudeau, gets her a majority parliament this year Canada will be lost forever.

Anyone else catch Morneau being sent to the gallows for public shaming of his “election violations”? Meanwhile whatever happened to those WE guys who STOLE half a billion dollars of taxpayer money? Whatever happened to the family who enabled them to do it?

Oh yes – incoming majority Liberal government. Sheesh Canada, we’re cooked.

#22 Polecat on 09.10.20 at 2:58 pm

I guess the libs will give the ndp all the goodies they want to get the speech to pass. Then good luck getting people to work minimum wage, not all but I think most. Glad I get to pay more tax to support this. Libs will be in forever,buying votes with our money. Never minded paying my share of tax but this is nuts, I’ll be looking at reducing it any way I can legally, I know Garth wrote about this a long time ago, have to look up that post. Good luck dogs.

#23 Bill on 09.10.20 at 2:59 pm

If anyone is interested in ask the FM to turn the taps down heres the link.
https://us1.campaign-archive.com/?u=e436226d501953d6bf1068db8&id=ccde184c2b&e=dd70bba99e

Garth why didnt the gov just issue credit cards at say prime rate?
People could be responsible for their own finances rather than the state deciding for everyone. The waist is huge.. Implimentation costs of all the CERB CECRA ect must be off the charts.
“We took on tbe debt so Canadians didnt have too” what an idiot.
Ok so hes racked up tons of debt for me as im getting the tab for everyone else who has no saving or is financially incompetent and could get through a tough time…Canuckle heads

#24 Tater on 09.10.20 at 2:59 pm

#15 MF on 09.10.20 at 2:34 pm
Lol.

They asked a whole 1000 people.

Read it yourself:

https://secureservercdn.net/198.71.233.47/823.910.myftpupload.com/wp-content/uploads/2020/09/2020-1707-Bloomberg-Aug-Populated-Report-with-tabs.pdf

What’s 1000/37 million (our population) ?

Conclusions: nothing can be realistically concluded.

MF

Results are consistent with a recent Angus Reid poll. Maybe you should show us your data. You know, just to be taken seriously. – Garth
—————————————————————
With a pop of 37mm, if you want 95% +/- 3% you only need 1000 people or so. You can calculate this yourself here:
https://www.surveysystem.com/sscalc.htm

#25 physicist on 09.10.20 at 3:10 pm

Unfortunately, Erin O’Toole probably is the next step toward the disappearance of the Conservative Party of Canada as a serious alternative.

Consequently, during the leadership candidacy, O’Toole touted himself as a “true-blue Conservative”. This is a dog-whistle phrase for a theocrat, and was therefore elected by the theocrats in Canada who have flocked to join the conservative party as the only electable choice.

Conservative principles traditionally include fiscal responsibility, but that tradition is being overridden by theocracy. Since religion is not a strong force in the Canadian general population, the conversion of the Conservative Party to theocracy is a death sentence for it.

#26 Lyon Style Chicken With Vinegar Sauce on 09.10.20 at 3:18 pm

“New tax bracket. Capital gains inclusion rate hike. Corporate tax jump. Big tech attack.”

It would only be fair if they also go after DB pensions too and not just the tools people without pensions need to build up a retirement fund.

#27 Dirty Dan on 09.10.20 at 3:19 pm

UBI better be exactly that – “UNIVERSAL”.

There had better not be a means test like welfare. I want to take the nest egg I worked for as a safety net, retire early and collect UBI. Then I can be a born again millennial.

#28 Dolce Vita on 09.10.20 at 3:21 pm

#15 MF

For the Love of God, take a Stats course one that teaches Binomial and Normal Distributions statistics, how to calculate a sample size and Covariance, which is most of them. To get fancy, find one that also teaches Bayes’ Theorem.

—————————–

#3 Millennial Realist

My very own “Brains, Hormones” chart after decades of observation and some of those teaching University students:

https://i.imgur.com/m6abV1x.jpg

AND I DARE you:

Take your Comment from today, print it out and put it somewhere so the paper will not degrade…a time capsule for you to open in 40 yrs time.

Then take it out, re-read it and then go to my tombstone where I will have engraved on it:

“DEAR #3 Millennial Realist on 09.10.20 at 2:12 pm:

Don’t you feel stupid now.”

———————–

But for now, enjoy your HORMONES.

BRAINS will soon supplant them, see above Chart.

#29 Damifino on 09.10.20 at 3:22 pm

Will T2 use the dismal failure of the Ontario “Green” Initiative as a template for the whole nation? You bet he will. Such a foolish, foolish boy. A towering example of the old adage: ‘those who can’t learn can always teach’.

But it’s the grandchildren who’ll suffer most. Around 2055 they’ll be chanting for the heads of the Millennials for ushering in Venezuela-style socialism to a resource rich country once rife with opportunity.

OK then ladies… Go for it!

I won’t be around to see it anyway.

#30 Mike in Calgary on 09.10.20 at 3:22 pm

Just some observations…the Federal government normally brings in $332 billion each year in total revenue for various sources of which personal taxes make up almost half of that. It then spends $340 billion or so to run the country. There are 28 million personal tax returns filed each year. If everyone gets UBI of, say, $1,500/month, that’s an additional $504 billion of spending. So where is the additional $504 billion coming from?

#31 Dirty Dan on 09.10.20 at 3:28 pm

#14 Piano_Man87 on 09.10.20 at 2:34 pm

O’Toole: Starting to sound a lot like Trump (“Canada First,” get tough on China, “self sufficiency.”)

This may be a stupid question, but which country should be the priority for Canadian Politicians?

https://www.youtube.com/watch?v=3g_bdGseyd8&t=35m24s

Quarter billion tax dollars for China to build out green infrastructure while Canadians suffer?!

#32 Masks really do make some people more attractive on 09.10.20 at 3:30 pm

I’m hoping for a national childcare plan this fall. It benefits more than just families with children; it creates jobs for ECE workers, returns women to the workforce, doesn’t require expensive infrastructure, children requiring earlier interventions will be supported and will require fewer health/social supports later in life.

https://www.thestar.com/news/canada/2011/06/22/ontario_urged_to_spend_more_on_child_care.html

#33 Millennial Realist on 09.10.20 at 3:33 pm

#25 physicist

“Unfortunately, Erin O’Toole probably is the next step toward the disappearance of the Conservative Party of Canada as a serious alternative.

Consequently, during the leadership candidacy, O’Toole touted himself as a “true-blue Conservative”. This is a dog-whistle phrase for a theocrat, and was therefore elected by the theocrats in Canada who have flocked to join the conservative party as the only electable choice.

Conservative principles traditionally include fiscal responsibility, but that tradition is being overridden by theocracy. Since religion is not a strong force in the Canadian general population, the conversion of the Conservative Party to theocracy is a death sentence for it.”

I cannot disagree.

For at least the next generation, there will never again be a federal conservative government. Probably the same across most provinces. Not when people realize their new benefits (and the benefits to the environment) as of September 23 would be in jeopardy if they elected some of these theocrat numbskulls.

Paleo-Conservatives are burnt toast. Forever.

September 23 is coming fast.

#34 blogshark on 09.10.20 at 3:33 pm

“Overall 86% of Canadians oppose government even trying to balance its books if it means a cut in benefits.”

My 300 seat projection for Trudeau next election is looking more and more sage.

To those who think we need socialism or cataclysmic government intervention to change the planet:

https://www.telegraph.co.uk/business/2020/09/09/capitalist-technology-already-solving-climate-crisis-extinction/

#35 KP on 09.10.20 at 3:33 pm

Garth why are you so apposed to airbnb and other gig economies. Buttom line is if it wasn’t worth it or needed people wouldn’t use these services. Seems like the Canadian govt loves to license and control every aspect of our economy this causing prices to skyrocket. Let the market decide. If hotels can’t compete with airbnb have the owners sell.

I think the biggest problem with the Canadian economy is the amount of control levied on business. All based on the dear of missing out on a tax dollar. Relax people will pay their taxes.

On another note isn’t ubi just another name for negative interest rates. Also the $5B per week of QE. Net it out and it looks like negative real rates are already here. That means the real economy is contracting. Nominal prices will probably keep rising due to QE? Not sure how this plays out. Maybe a prolonged reorganization.

#36 DownToFinance on 09.10.20 at 3:34 pm

“New tax bracket. Capital gains inclusion rate hike. Corporate tax jump” … and a tax on principal residence?

Nah, that would level the playing field between renters and owners and of course spell out political suicide.

#37 conan on 09.10.20 at 3:38 pm

The Cons would be foolish to ask for an election after the throne speech.

#38 Masks really do make some people more attractive on 09.10.20 at 3:38 pm

#25 physicist on 09.10.20 at 3:10 pm
Unfortunately, Erin O’Toole probably is the next step toward the disappearance of the Conservative Party of Canada as a serious alternative.

Consequently, during the leadership candidacy, O’Toole touted himself as a “true-blue Conservative”. This is a dog-whistle phrase for a theocrat, and was therefore elected by the theocrats in Canada who have flocked to join the conservative party as the only electable choice.

Conservative principles traditionally include fiscal responsibility, but that tradition is being overridden by theocracy. Since religion is not a strong force in the Canadian general population, the conversion of the Conservative Party to theocracy is a death sentence for it.

///////////

Good take. CPC has nowhere to go but down. O’Toole will not sell in urban areas, and will further exacerbate the rural/urban political gulf. What Con braintrust decided that doubling down on the Trump model was the key to success? The GOP is imploding and may never recover.

Canada needs 3 viable national political parties to keep everyone honest; allowing the Bloc/Lib/NDP free rein isn’t in our best interests.

#39 Dolce Vita on 09.10.20 at 3:38 pm

PS: [chart explanatory note]

#3 Millennial Realist

The intersection point between the Brains and Hormones lines in this chart:

https://i.imgur.com/m6abV1x.jpg

Happens at circa 40 yrs of age or more, depending upon how much NET $$$ you have accumulated and do not wish to part with for hair brained schemes such as UBI.

#40 Kp on 09.10.20 at 3:42 pm

Come to think of it isn’t QE just another name for government side ubi. So the govt can print money thereby causing inflation (tax on savers). They take this newly created money and buy I dunno what.. govt debt? Corporate bonds etc. Ubi for govt and corps.

#41 Inequity on 09.10.20 at 3:42 pm

My guess is they will claw back UBI like they did back in the 70’s

So while its called universal so that everyone will support it… it will really just be to top up people who make below a certain threshold.

https://www.bbc.com/worklife/article/20200624-canadas-forgotten-universal-basic-income-experiment

#42 MF on 09.10.20 at 3:44 pm

Tater on 09.10.20 at 2:59 pm

-Did you read your own link?

“ The larger your sample size, the more sure you can be that their answers truly reflect the population. This indicates that for a given confidence level, the larger your sample size, the smaller your confidence interval. However, the relationship is not linear (i.e., doubling the sample size does not halve the confidence interval)”

-Like I said, 1000 people may be a good cross sample, but the margin of error could be pretty high on that one.

MF

#43 Dolce Vita on 09.10.20 at 3:55 pm

I know Garth you believe Conservatives have to go to the Center to be electable.

I disagree. People don’t know what they want but appreciate true leadership and not leadership by what the polls say.

To me, Canadian Conservatism needs a Ralph Klein.

All you Millennials & Leftys, read this in your SAFE ROOM, don’t bring Peaceful Protest Molotov Cocktails to Pordenone (our Carabinieri will nab you anyway):

With ON* lowering benefits to its “disadvantaged” many came to AB for its more generous welfare. Ralph Klein, then Calgary’s Mayor (later Conservative Premier of AB) said this, summarized:

Mayor Ralph Klein says he’ll use “cowboy techniques” to protect Calgarians from bums and creeps migrating to the city.

https://www.cbc.ca/player/play/2681487570

Above video when CBC would tell it like it is.

———————

*ON cut welfare to 3/4 that in AB to force them out of Province. They went to AB. Ralphy not happy. I know that number is true since 1 of my buddies in AB then was the Deputy Minister, welfare one of his portfolios.

Funny thing, the Easterners agreed with him, then again, they got rid of the problem. Klein thought he would have to apologize, au contraire, they loved him even in ON (probably wished he was their Mayor).

So you see, Conservatism is in need of a Leader not afraid to say something is male bovine manure and trust that the GOOD CDN PEOPLE will have COMMON SENSE.

#44 dave on 09.10.20 at 3:57 pm

CRA sent me an form to pay taxes for 2020 on Sept 30 and then on Dec 31/20…instead of paying them in April of 2021.

Up till Sept 1…All taxes were deferred – Personal, business, property…even mortgages, rent, and student loans all deferred.

Now a month later – Pay us upfront. This fall will be epic – the real estate will finally take a beating it deserves.

#45 Jimmy Zhao on 09.10.20 at 3:58 pm

Sure, anyone who pissed their money away on beer, cigarettes and annual trips to Cancun, maybe a degree in gender studies, and doesn’t have two nickels to rub together, loves to have a nanny state to take care of them.

Forget about personal responsibility, let the government look after you.

#46 Jake on 09.10.20 at 4:04 pm

“What a revealing little bug.”

Who knew the bug would also smack rates into the ditch again and rocket launch house prices to record highs thus erasing a decade’s effort of QE. Hope this covid winter is kind because there’s no more bullets left.

#47 OK, Doomer on 09.10.20 at 4:05 pm

I’m going off topic Garth- my apologies, but I need to vent and this is cheaper than therapy. Garth, you have my permission to delete this if you find it offensive.

The NFL just announced that the players will wear Jacob Blake’s name on their helmets. To those unaware, Jacob Blake is the (alleged) rapist who was shot by police. Now he’s a folk hero. What happened to #metoo????

I threw out my (formerly favorite) Chicago Bears hat and will never watch another NFL game. I gave up with the NHL shortly after games resumed also. I like my hockey straight up and on ice. Last thing I need is to be lectured to when all I want is to watch some sports and escape the COVID insanity for a couple of hours.

What a messed up world.

OK. All done. Thanks Garth.

#48 Tater on 09.10.20 at 4:08 pm

#35 KP on 09.10.20 at 3:33 pm
Garth why are you so apposed to airbnb and other gig economies. Buttom line is if it wasn’t worth it or needed people wouldn’t use these services. Seems like the Canadian govt loves to license and control every aspect of our economy this causing prices to skyrocket. Let the market decide. If hotels can’t compete with airbnb have the owners sell.
————————————————————

So glad you love free markets so much and have such regard for property rights.

I plan to buy a house, hopefully next to you, and use it as an after hours club between 2 and 6 am. During the day, the back yard will be used for hog slaughter and the driveway will be an auto repair shop. Come over for a drink one evening.

#49 Don Guillermo on 09.10.20 at 4:11 pm

#4 YouKnowWho on 09.10.20 at 2:12 pm
What a revealing little bug.

YES!

It has revealed a lot about many things.

Our politicians.
Our scientists becoming politicians.
Our liberties.
Our media.
Our ability to be controlled with fear.
Our true state of our collective health.
Consequences of our choices and actions on our health.

I don’t think the bug is done

******************************************]]

If these polls are remotely accurate the most revealing thing to me is how weak and selfish the average Canadian is. Obviously they don’t care about future generations or even this country. Give me as much as you can and to hell with Canada … can’t wait for November.

#50 IHCTD9 on 09.10.20 at 4:14 pm

It’s too bad so many Canuck Women prefer to “mother” the Citizenry of Canada with their vote.

A whack of Canucks are already “mamma’s boys” having avoided making the tough calls via borrowing. Much safer.

Down the road we will eventually have to face rate hikes. I just can’t see this kind of spending ending any other way.

When inflation eventually rises from the dead, given the unholy levels of debt we’re piling up – it’s going to be a very loud, and long; series of “Kaboom’s”.

#51 Don Guillermo on 09.10.20 at 4:16 pm

#12 FreeBird on 09.10.20 at 2:27 pm
As usual I’m not with public majority and as a woman living in Ontario decidely don’t support JT or give him (or any political leader) a pass.

On a diff topic talking to others seems more snowbirds looking to sell RE (Arizona, Florida etc) due to travel bans and general fear from perceived unrest and maybe unsafe conditions in US right now (not just health.) Are there stats on this? Not just on snowbird sales but perceptions. Interesting to see.

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

A friend of mine flew to Palm Springs a few weeks ago to sell his house. No restrictions on flying to most US destinations. More restrictions on driving although they are not consistent. He is actually buying another home in PSP. Different neighborhood.

#52 Ballingsford on 09.10.20 at 4:27 pm

What a dark time we are living in.

#53 Keith on 09.10.20 at 4:28 pm

So if I leave my wealth to accumulate, draw no income, no job, no CPP no OAS no pension do I get UBI?

#54 Mattl on 09.10.20 at 4:29 pm

#11 Generation Screwed on 09.10.20 at 2:26 pm
#3 Millennial Realist on 09.10.20 at 2:12 pm

Plus inheritance taxes

….

You better hope not…. that’s the only chance you’ve got dudette!!

Boomers will be long gone… but you’re screwed for ever

——————————————————

This is my absolute fave Mil proposal. Too stupid to realize that their parents wealth will transfer to them, they lobby for inheritance taxes to “get the boomers”. It would be fitting if some of those taxes were transferred back to the boomers in the way of Seniors benefits.

#55 YouKnowWho on 09.10.20 at 4:33 pm

Well, PQ to start issuing fines for masks in places where they are mandated.

$400-6000 per instance, discretion of officer.

I for one want to make friends with all dog owning blog dogs and suggest same fine values be extended to off-leash dogs in clearly marked leash areas, schools where dogs are not allowed, as well obviously for not scooping the poopings. Who’s with me?

#56 Doug t on 09.10.20 at 4:34 pm

Statistically women like to shop more then men – so does that explain why they are more willing to have the government spend willie nillie like there’s no tomorrow? Come on ladies give yer heads a shake and tighten the purse strings lol

#57 Billy Buoy on 09.10.20 at 4:35 pm

Famous Historic quotes:

“The budget will balance itself.” JT

“The condom musta broke.” 10000000000 teens.

“We have a deal with Hitler.” Chamberlain UK

“I don’t believe we will see another financial crisis as long as I live.” Janet Yellen

“Interest rates will never go negative.” CB worldwide.

#58 Trojan House on 09.10.20 at 4:36 pm

If Canada was an actual true democracy, then major decisions like the ones forecasted here about Liberal spending would be put to a referendum to let the people decide. Certainly a minority government, one that did not even win the popular vote, should not be able to pass legislation, like the one being proposed, regardless whether they are supported by another party or not.

#59 Tater on 09.10.20 at 4:39 pm

#42 MF on 09.10.20 at 3:44 pm
Tater on 09.10.20 at 2:59 pm

-Did you read your own link?

“ The larger your sample size, the more sure you can be that their answers truly reflect the population. This indicates that for a given confidence level, the larger your sample size, the smaller your confidence interval. However, the relationship is not linear (i.e., doubling the sample size does not halve the confidence interval)”

-Like I said, 1000 people may be a good cross sample, but the margin of error could be pretty high on that one.

MF
————————————————————-
They published the margin of error. You could also calculate it with the link I gave. For 95% +/-3% (what they published) all you need is 1000 people. Obviously, the bigger the sample the higher the significance or the narrower the interval.

So not sure what you’re bleating about. But “tHe SaMpLe NeEdS tO bE LaRgEr” is a dumb take.

#60 KNOW IT ALL on 09.10.20 at 4:43 pm

AND there go the markets……

The foundation is starting to crack from the weight of those overvalued tech securities, rising bankruptcies, and disappointing earnings reports one after another.

Unfortunately it is going to take the whole system with it.

#61 Pete from St. Cesaire on 09.10.20 at 4:43 pm

#13 Bill on 09.10.20 at 2:27 pm
“Overall 86% of Canadians oppose government even trying to balance its books if it means a cut in benefits.”
That’s what happens when you have fools with no long term view.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
No. They have a long term view and they can plainly see all that awaits us is Zimbabwe. It’s inevitable. They just don’t want it to come around any sooner than necessary.

#62 TurnerNation on 09.10.20 at 4:44 pm

November 20th, 2019. Kanada came under full control. The economic top. (Looking back).
As always flip 180deg everything our elite trust-funded rules state. Minister of Dis-Prosperity.

They were just playing us with this sham position created.

“Minister of Middle Class Prosperity of Canada
Incumbent – since 20 November 2019”

#63 Guelph Guru on 09.10.20 at 4:44 pm

Basic Economics for Mr. Justin to calculate UBI that the Govt can Dole out:

UBI = Net Govt Income – Expense

Oh but our expense is much more than income. So

UBI = -ve = Pony up my fellow country folks and send your wealth to the Govt (TAX).

HAHAHA :) UBI is a joke right?

Anyone knows how to buy shares of FED or BOC?

#64 Oh ... here we go again ... on 09.10.20 at 4:45 pm

Be part of the change, Boomers.
Or be run over by it.
————————————
Really?

#65 Sonny on 09.10.20 at 4:46 pm

“Lots of owners still flog their units, pocket the cash, pay no tax and are usually in violation of condo bylaws.”

Garth, please enlighten us as to what CRA is or isn’t doing about this TAX EVASION?

#66 DownToFinance on 09.10.20 at 4:49 pm

Garth,

Would it not make sense to buy property after the deferral cliff if the capital gains inclusion rate increases?There is no way a government will kill the PR CG exemption and at that point it is the biggest tax-free investment around (assuming you buy after whatever dip coming up may occur).

#67 TurnerNation on 09.10.20 at 4:53 pm

#47 OK, Doomer – you don’t say. I heard people are getting zoned out by NHL player action too.
NO fans in attendance so how long until TV rights wane and profits drop to the untenable levels? Do we see a possible plan unfolding? As I said I’m trying to put finger on why sports stadiums are being left empty…
How’s soccer looking these days???

#113 TurnerNation on 09.08.20 at 9:17 am
no but the guy making the New System leak/info in late 60’s that soccer would be only permitted sport [In the New System] might be on to something. ..

6 months in and:
– CFL football league is cancelled.
– Toronto Blue Jays baseball team banned from the country.
– NBA player staged a work stoppage

#68 Post on 09.10.20 at 4:54 pm

Deficits don’t matter.
Unemployment doesn’t matter.
Presidential dumpster fires & elections don’t matter.
Fundamentals don’t matter.
Record high asset prices don’t matter.
Money printing doesn’t matter.
Corrupt Prime Minister’s don’t matter.
Pandemics don’t matter.
Credit ratings don’t matter.
Race tensions and protests don’t matter.
Nutty house prices don’t matter.
52% of adults between 18-29 living with parents doesn’t matter.

I guess, I’m getting old. I remember when things like this mattered.

#69 YouKnowWho on 09.10.20 at 4:56 pm

You know what, I’ve been thinking about this poll.

Why such disparity between women and men?

Could it be that women are at higher risk in terms of income loss/shortfall?

Could it be that women are displaced disproportionately due to schools and care issues?

Could it be that women are dependant on men and are concerned about this dependance?

I wonder if Dorthy would think those are possibilities Garth. :-)

#70 Squire on 09.10.20 at 4:57 pm

#3 Millennial Realist on 09.10.20 at 2:12 pm

—————————————————-
Go away Millennial. Get some bubble wrap and package yourself. Oh and there’s a safe room somewhere you can rest a while so you’re not offended. The one’s with the loudest voices for socialism will be the first one’s silenced. True words, just ask anyone old dude that escaped eastern block countries post war. Pffft Get out of your parents basement and get a job

#71 Niagara Region on 09.10.20 at 4:57 pm

I completely agree with Garth’s assessment of AirBnB. Prices have more than doubled for RE in the Niagara Region in the past 6 years, and AirBnB ghost hotels have played a huge role in this absurd escalation.

Re: women and Trudeau. Women have been much more likely than men to lose their jobs during covid because of gender segregation in the workforce (e.g., women are much more likely to work in service-sector jobs and in childcare). Therefore, it is not surprising that women will disproportionately support more governmental funding than men would during covid.

Garth, please tell us where we can get the great mask pictured above.

#72 YouKnowWho on 09.10.20 at 5:01 pm

You guys remember how they said, NO NO NO, this was not a gain of function strand that escaped the Wuhan Institute of Virology.

Well, look at what I tripped up on, old from July 10th, but I have not heard of this. I thought it was certain that it was a bat like for sure no doubtsies.
I know WHO claimed that it was not possible that it was an escape of an experiment. But now other scientists have looked at the virus closely and have started to ask about the fact that there are evolutionary steps missing in this virus, and that it apparently has rare gain of function features that while possible in nature are highly unlikely. I can back up these points with references if needed.

>>>
The two-person team from the World Health Organization (WHO) traveling to China today to address the origin of the COVID-19 pandemic is unlikely to come home with answers. Rather, the duo—an epidemiologist and an animal health expert whose names have not been released—will discuss with Chinese officials the scope of a larger international mission later, according to a WHO statement.

But this initial trip offers real hope that the mystery of the virus’ origins, which has become a political powder keg and the subject of countless conspiracy theories, will finally be investigated more thoroughly and transparently.

“Science must stay open to all possibilities” about the pandemic’s origins, Mike Ryan, executive director of WHOs Health Emergencies Programme, said at a press conference on 7 July. “We need to lay out a series of investigations that will get the answers that I’m sure the Chinese government, governments around the world, and ourselves really need in order to manage the risk going forward into the future.”

https://www.sciencemag.org/news/2020/07/who-led-mission-may-investigate-pandemic-s-origin-here-are-key-questions-ask

#73 FreeBird on 09.10.20 at 5:03 pm

#51 Don Guillermo on 09.10.20 at 4:16 pm
#12 FreeBird on 09.10.20 at 2:27 pm
As usual I’m not with public majority and as a woman living in Ontario decidely don’t support JT or give him (or any political leader) a pass.

On a diff topic talking to others seems more snowbirds looking to sell RE (Arizona, Florida etc) due to travel bans and general fear from perceived unrest and maybe unsafe conditions in US right now (not just health.) Are there stats on this? Not just on snowbird sales but perceptions. Interesting to see.

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

A friend of mine flew to Palm Springs a few weeks ago to sell his house. No restrictions on flying to most US destinations. More restrictions on driving although they are not consistent. He is actually buying another home in PSP. Different neighborhood.
————————
Makes sense with driving vs flying. Most I hear of drive. I can also see some buying in some areas if prices are right. Always interesting to hear real stories. Thx

#74 NSNG on 09.10.20 at 5:05 pm

#48 Tater on 09.10.20 at 4:08 pm

What? No chicken coop?

#75 Jay on 09.10.20 at 5:06 pm

Can anyone actually tell me what we bought for 400 billion this year by paying people to stay home in April / May, and what we actually gained by shutting everything down without just saying “savings lives”, which cannot be measured or proven, especially given the complete scam the modeling ended up being?

– People still died
– Hospital capacity reached 1% or so at most
– The virus didn’t go away
– People are still dying now and getting infected now.

It looks mandatory masks everywhere seem to be the solution, imagine just doing that from the start, ending up in the exact same situation we are still in now, and having not doubling our national deficit to do get there.

How many of the 90 year old seniors we “saved” back then have since passed away from natural causes.

It looks like Norway will get the last laugh after all.

#76 The TRUMP Pandemic/Depression on 09.10.20 at 5:07 pm

Garthy, garthy, garthy – you of all peoples know what he meant in that it would balance itself… just like the war debt eventually did… the economy grows faster than the debt grows and soon the ratio between this and that is back to a managable place… c’mon sir,,, the youngster PM along with his team are doing a fine job all things considered…

#77 NSNG on 09.10.20 at 5:07 pm

Wow! That was fast!

JPM Becomes First Wall Street Bank To Demand Traders Return To The Office

https://www.zerohedge.com/geopolitical/jpm-becomes-first-wall-street-bank-demand-traders-return-office

#78 willworkforpickles on 09.10.20 at 5:12 pm

Does the right hand even know what the left hand is doing in Canada and visa versa. It wouldn’t appear so in regard to Tiff and Trudeau. JT on a yet another mission hellbent on spending blistering ginormous amounts of new government created money and TM somewhat level headed well aware that, one way or another, printing money is almost certain to trigger inflation, possibly to dangerous levels….and those who maintain that interest rates stay low, will stay low, must stay low…just too funny.

#79 Freedom First on 09.10.20 at 5:13 pm

I have never been a big fan of communism.

Freedom First

#80 Mark the Carney, Carney on 09.10.20 at 5:17 pm

#8 YouKnowWho on 09.10.20 at 2:22 pm
#140 Mark the Carney, Carney

MtC,C, yes.

Escape, not escape – let’s not use those terms. Indeed, I’m starting to mix up who escaped and who has not escaped, as we’re all stuck on this rotating ball in space.
—————————————————————
You are most right mon ami. We are all on this little blue dot as the later Carl Sagan used to say. Enjoy life, it is short. My daughter’s friend’s dad just died of cancer, a relative in his 50s just had a heart attack. In the long run we are all dead. Smell the roses, hug your loved ones, tell them you love them and be glad for another day on this rotating orb in the universe…

#81 J.Christ on 09.10.20 at 5:21 pm

#25 physicist on 09.10.20 at 3:10 pm
Unfortunately, Erin O’Toole probably is the next step toward the disappearance of the Conservative Party of Canada as a serious alternative.

Consequently, during the leadership candidacy, O’Toole touted himself as a “true-blue Conservative”. This is a dog-whistle phrase for a theocrat, and was therefore elected by the theocrats in Canada who have flocked to join the conservative party as the only electable choice.
—————————————————————-

You got something against a theocracy cowboy??

#82 willworkforpickles on 09.10.20 at 5:23 pm

If Canada were to get back to full employment the spending spree to come would have little to no effect on rates. Canada’s unemployment rate won’t fix itself and currently stands highest among the G-7 countries.
With the ongoing incentive to stay home with free money kindly provided by the one out buying votes how can it fix itself.

#83 Ponzius Pilatus on 09.10.20 at 5:24 pm

#47 OK, Doomer on 09.10.20 at 4:05 pm
I’m going off topic Garth- my apologies, but I need to vent and this is cheaper than therapy. Garth, you have my permission to delete this if you find it offensive.

The NFL just announced that the players will wear Jacob Blake’s name on their helmets. To those unaware, Jacob Blake is the (alleged) rapist who was shot by police. Now he’s a folk hero. What happened to #metoo????

I threw out my (formerly favorite) Chicago Bears hat and will never watch another NFL game. I gave up with the NHL shortly after games resumed also. I like my hockey straight up and on ice. Last thing I need is to be lectured to when all I want is to watch some sports and escape the COVID insanity for a couple of hours.

What a messed up world.

OK. All done. Thanks Garth.
—————–
Hope you feel better know. Could have given the hat to a deserving kid.
As for myself, I enjoy that Hockey and Basketball are back.
The Raptors are wearing BLM slogans on their back.
Does not bother me a bit. it’s their backs.
As for the NHL, Canadian hockey players always have been yes-men in my opinion. Never question the coach.
My son plays Junior Hockey, so I know.
Their interviews were scripted and boring.
They are role models and should act as such, not just in matters hockey.
Good thing that Cherry is gone. He was too old school.

#84 Ronaldo on 09.10.20 at 5:32 pm

#4 YouKnowWho

“Second Wave”
Siskel and Ebert give it 2 Thumbs Up from beyond.
“You’ll be so scared, you’ll #2 yourself!”
—————————————————————–
Still waiting for the 1st wave.

Need to come up with a better name. First wave was mist.

#85 Doug t on 09.10.20 at 5:38 pm

#3 millennial realist

Your so cute – your words make me smile – little bun bun gonna change da big bad world – you little ray of sunshine – me thinks someone’s chakra is rainbow infused and their rose coloured glasses are stapled on tight – little bun bun

#86 jess on 09.10.20 at 5:41 pm

… what no “chesky chips” ?

EU-US data transfer personal data,
https://fortune.com/2020/09/10/time-running-out-facebook-big-tech-europe-sccs-ireland/

#87 navdip sahota on 09.10.20 at 5:42 pm

I’m going off topic Garth- my apologies, but I need to vent and this is cheaper than therapy. Garth, you have my permission to delete this if you find it offensive.

The NFL just announced that the players will wear Jacob Blake’s name on their helmets. To those unaware, Jacob Blake is the (alleged) rapist who was shot by police. Now he’s a folk hero. What happened to #metoo????

I threw out my (formerly favorite) Chicago Bears hat and will never watch another NFL game. I gave up with the NHL shortly after games resumed also. I like my hockey straight up and on ice. Last thing I need is to be lectured to when all I want is to watch some sports and escape the COVID insanity for a couple of hours.

What a messed up world.

OK. All done. Thanks Garth.

good bye then.

#88 Ponzius Pilatus on 09.10.20 at 5:46 pm

Re: Snowbirds selling.
Why would anybody own RE in the States right now.
Unrest, political uncertainty, hurricans, floods, fires, pestilence etc.
Give your head a shake. Sell and invest the money in Garth’s company.
I get 10% referral fee. I’ll donate it towards the federal debt reduction.
You’re welcome.

#89 fishman on 09.10.20 at 5:50 pm

So the majority of women want free money & government support. They have no idea the monster they are unleashing. Thats because they think that men think like them & will rationally utilize free time & free money. Equality means equally responsible. Sorry Sis, doesn’t work that way. Brezhnev time in USSR the women did all the work keeping the family unit going, shopping,cleaning, working. The men sat around the front steps of the apartment blocks & got drunk. And when they came home drunk a lot of violence. Same thing in East Germany when they joined with the west. That generation of East german men were useless. Collect welfare,sell dope & petty thievery. The system had ruined them.
Same sort of thing in one industry B.C. towns when the mills or mines shut down. The weekend drinking extends into the week. Lots of dope,late nights,late mornings. Look who’s overdosing right now. Itinerant male construction workers. Now your going to train a whole new generation of layabouts. Big Trouble.
Women rise to the occasion & do their best to keep the ship upright. Men need a job or they fall apart like a cheap suit. Guaranteed. Canadian,Liberal voting,SJW woke women are going to be very sorry. Guaranteed.

#90 Shirl Clarts on 09.10.20 at 5:57 pm

#49 Don Guillermo on 09.10.20 at 4:11 pm
If these polls are remotely accurate the most revealing thing to me is how weak and selfish the average Canadian is. Obviously they don’t care about future generations or even this country. Give me as much as you can and to hell with Canada … can’t wait for November.
^^^^^^^^^

Yet another disparaging generalization from the guy who exports all his cash 6 months of the year in Mexico.

Also nice of you to insult your family, friends, and co-workers while hiding on this blog. Or are they above “average”, like you claim to be?

Yeah, November. Why wait. Go now, ya Hypocrite.

#91 Ponzius Pilatus on 09.10.20 at 6:00 pm

#50 IHCTD9 on 09.10.20 at 4:14 pm
It’s too bad so many Canuck Women prefer to “mother” the Citizenry of Canada with their vote.

A whack of Canucks are already “mamma’s boys” having avoided making the tough calls via borrowing. Much safer.
————–
I guess we should ask your wife.
But in most households, wifey wears the pants.
Women make all important financial decisions.
Just ask a car sales man.
There’s a good chance that the next Prez is a woman.
And Freeland could be Prime Minister in a year or two.
So, boys get ready for some tough motherly love.

#92 TurnerNation on 09.10.20 at 6:02 pm

I wasn’t point going to post again but to my repeated point for months now that all fun has been removed in the New System. Only work now Comrade.
For how long must we play pandemic and pretend all are sick (don’t say 2 more weeks)? Answer: until the New Green Deal drops later this year.

https://twitter.com/fordnation/status/1303856996114993154
“To all our students and young people: No more parties.
We all need to do our part to help stop the spread of COVID-19. Next time you want to party, think about your parents, grandparents and other family members who are at most risk from COVID-19. We are doing this for them.”


Ok for young people sit alone and collect CERB and smoke weed. The Weed shops popping up on all those vacant storefronts is staggering.
Map: https://www.agco.ca/sites/default/files/map/ONT_CN_ST_E.html

#93 Felix on 09.10.20 at 6:04 pm

YouKnowWho #55

I for one want to make friends with all dog owning blog dogs and suggest same fine values be extended to off-leash dogs in clearly marked leash areas, schools where dogs are not allowed, as well obviously for not scooping the poopings. Who’s with me?

+++++

I am with you. As are all cats and humans with higher IQs.

It is deplorable how so many dog owners break the laws with no consideration for others. Dogs and their humans are evolutionary dead ends.

Like attracts like, just like today’s photo.

#94 Captain Snowpants on 09.10.20 at 6:08 pm

Funny how the tune from AirBnB’s CEO changes when they’re losing money. “sorry” is a worthless word these days. Had this pandemic never happened, they’d be happy to rip through cities and dream about making every property an amateur ghost hotel across the country.

#95 In Garth, Not God We Trust on 09.10.20 at 6:14 pm

#76 The TRUMP Pandemic/Depression on 09.10.20 at 5:07 pm
Garthy, garthy, garthy – you of all peoples know what he meant in that it would balance itself..
—————————————————————-
A little more respect when you address the all knowing, all wise, financial prognosticar without equal who runs this blog as an end time warning in the financial wasteland of Canada. It’s Mr. Turner for future reference. Sheesh!

#96 sean on 09.10.20 at 6:32 pm

re: #26 Lyon Style Chicken With Vinegar Sauce on 09.10.20 at 3:18 pm “… It would only be fair if they also go after DB pensions too and not just the tools people without pensions need to build up a retirement fund.”

Why? The 1990 changes to the RRSP system (based on a 1984 proposal by then-finance minister Marc Lalonde) were designed to balance the tax benefits provided to those with DB plans and those without. If you have a DB then most of your annual RRSP room is elininated by your “pension adjustment” but your DB contributions are sheltered; if not, then you can shelter up to 18% of your income in your RRSP. Both DBs and RRSPs have upper limits which are also designed to balance.

The current EXTREMELY low rates mean that current RRSP limits are too low to guarantee adequate retirement income, but if you’re part of a DB plan it’s probably seriously underfunded for exactly the same reason (i.e. you’re not likely to get the full benefit promised).

My understanding is that Canada’s DB/RRSP integration is considered to be one of the most equitable systems around, but as ex-Minister of Revenue Garth could likely weigh in on this.

#97 Nonplused on 09.10.20 at 6:39 pm

“Ottawa will spend maybe $400 billion more than it collects this year. That’ll push the accumulated debt to over $1 trillion. Economists figure deficits will run at least $100 billion each year the Liberals stay in power, which compares with the worst-ever previous cock-up – Harper’s $56-billion hole during the credit crisis.”

I just don’t see how this can end in anything but a massive inflationary episode that will continue as long as the $100 billion dollar deficits last. The money supply has to be carefully managed to the demand for money in the economy. Don’t print enough, you get deflation. Print too much, inflation. Monetary policy has for the last 100 years been about walking the fine line between the two, staying a little closer to the inflationary slope side of the path so as not to fall off the deflationary cliff side.

But what Trudeau is doing is literally taking over monetary policy with fiscal policy. And in a big way. And with changes that are meant to be permanent. Lots of people say what happened in Venezuela could never happen here, because this is Canada after all. Well, it isn’t going to be for long.

In defense of Harper’s $56 billion deficit, it was a one time thing for the most part and once the credit crisis was behind us he attempted to tap it back down. Trudeau seems to harber no such ambitions. He’s acting like a spoiled rich kid that doesn’t have to pay off his credit card because mommy does it.

If Trump wins on Nov. 3 (or sometime after, Zuckerberg says it could take Facebook several weeks to finish rigging the election), then I think it is time to revisit the portfolio weighting. Gold is back in as a currency hedge and the US weighting should go up at the expense of the Canadian weighting. UBI will be a guaranteed currency killer and all these new taxes are bound to cause a permanent recession. We are already at peak tax at which the economy can function properly.

And if you are young or have the appropriate skills, consider moving to the US. Not California though. And not New York or New Jersey obviously. Texas maybe. Or Florida.

#98 GrumpyPanda on 09.10.20 at 6:41 pm

#47 OK Doomer, I agree. Entertainment caving in to causes is getting annoying. Recently watched an old national small dog surfing competition. The thrill of victory, the agony of defeat! No white dogs were cast as guilty, no black dogs were persecuted. The announcers worked just as hard on the commentary. And no dogs held out for better contracts or growled at the National Anthem. So refreshing.

#99 Steven Nicolle on 09.10.20 at 6:45 pm

Off topic from this post but I think if the Woodward tapes and his comments on the military do not change the mind of Trump voters—-nothing will.

https://bit.ly/2GLSzeR If you like the article give me a clap at the bottom of the post. Thanks

#100 Don Guillermo on 09.10.20 at 6:46 pm

#73 FreeBird on 09.10.20 at 5:03 pm
#51 Don Guillermo on 09.10.20 at 4:16 pm
#12 FreeBird on 09.10.20 at 2:27 pm
As usual I’m not with public majority and as a woman living in Ontario decidely don’t support JT or give him (or any political leader) a pass.

On a diff topic talking to others seems more snowbirds looking to sell RE (Arizona, Florida etc) due to travel bans and general fear from perceived unrest and maybe unsafe conditions in US right now (not just health.) Are there stats on this? Not just on snowbird sales but perceptions. Interesting to see.

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

A friend of mine flew to Palm Springs a few weeks ago to sell his house. No restrictions on flying to most US destinations. More restrictions on driving although they are not consistent. He is actually buying another home in PSP. Different neighborhood.
————————
Makes sense with driving vs flying. Most I hear of drive. I can also see some buying in some areas if prices are right. Always interesting to hear real stories. Thx

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

You’re very welcome.
One more anecdote. We were with friends yesterday at the Wild Rose brewpub. Side note … great young band playing called The Frontiers. Anyways this couple’s friends have a second property in Whitefish Montana and wanted to go down. When challenged about essential travel at the Coutts/Sweetgrass border they said their property had flooding problems. When they arrived at their property there were officials waiting. Don’t know the ending yet as this is happening now.

#101 Nonplused on 09.10.20 at 6:49 pm

#89 fishman on 09.10.20 at 5:50 pm
“Canadian,Liberal voting,SJW woke women are going to be very sorry. Guaranteed.”

No, they won’t. Most people (men included) cannot connect the dots. The inflation and economic stagflation that is coming will be blamed on (who else?) the rich. The solutions to the problems caused by more taxing and spending will be more taxing and spending. The goal here will be to ensure that if one kid doesn’t get a new bike for their birthday, none of them do. They are going to level the playing field alright, but it will be at the lowest common denominator.

#102 ElGatoNerodeYVR on 09.10.20 at 6:51 pm

#44 dave on 09.10.20 at 3:57 pm
CRA sent me an form to pay taxes for 2020 on Sept 30 and then on Dec 31/20…instead of paying them in April of 2021.
===========
Dude, that’s called installments. If you paid tax the previous tax year(s) they will estimate that you will owe taxes next April and charge you in advance.Look it up online in your CRA account.

#103 Kp on 09.10.20 at 6:53 pm

Lots of complaining. What you bought for 400b this year is a corporate bailout, no food bank lines, high stock market, no riots, inflation (as apposed to deflation which would happen without the 400b and QE).

Pick your poison boys and girls. Balanced budget means your portfolio tanked cause the population ain’t paying their bills. Bailout and deficit means your portfolio does rather well but kicking the can down the road.

What we need is innovation, quality education, openness to change and less government control over the forces of the economy.

Government already controls the cost of money, lending standards etc… No need to micro manage … Unless you do not trust your population.

#104 Steven Rowlandson on 09.10.20 at 6:57 pm

Just ban all rental accommodation except for tourists staying at hotels and motels. No more land lords and land ladies and no more condos. Everyone else can live in a house of their own priced at equal to or less than 3 years pay based on one income and a 25% down payment and all home prices higher than that will be illegal….
No more usury or genocide by home price or rent inflation. Want to get rich? Invent something, start a real business or buy into one. Homes are places to live and have families. They are not an investment.
Don’t like it? Fine! Emigrate!

#105 Ronaldo on 09.10.20 at 6:57 pm

Problem with WFH especially in large companies with big turnover in supvervisors and managers is that a company may lose track of who they have working for them.

They could end up sending cheques to people whose jobs have become redundant and have contributed nothing to the company in years. That would be scary.

Heck, I once worked in a large corp and sat next to a guy that would come into work every morning with a hangover and first thing he would do is open up his bottom drawer and spread a bunch of papers and files all over his desk to make it look like he was busy when he actually had little to do. He ended up getting promoted. lol They asked if I wanted to move into his job. I laughed and said, I think I’ll pass. The job was never refilled. lol I have similar stories like that in other companies I worked for. Fartz knows what I’m talking about. He’s pretty street smart.

Wonder how many jobs like this in the public service.

#106 Don Guillermo on 09.10.20 at 7:00 pm

#90 Nonplused on 09.10.20 at 6:39 pm

And if you are young or have the appropriate skills, consider moving to the US. Not California though. And not New York or New Jersey obviously. Texas maybe. Or Florida.
****************************************

Basically you’re saying stick with the “red” states.

#107 Nonplused on 09.10.20 at 7:01 pm

#3 Millennial UnRealistic on 09.10.20 at 2:12 pm
“The big speech will outline more spending, a green initiative and measures to address the wealth gap, including (probably) a form of guaranteed annual income, or UBI. ……….New tax bracket. Capital gains inclusion rate hike. Corporate tax jump. Big tech attack.”

Plus inheritance taxes and measures to challenge our oil dependency.

——————————–

We already have inheritance taxes in the form of the estate being considered liquidated and all taxes due in the year of death, including cashing out the RRSP’s at usually the top marginal rate. The only thing that escapes is the primary residence and personal effects.

Oil dependency isn’t going away any time soon. We don’t have another technology that scales yet. Several countries including the US, China, and Japan are moving ahead with “small nuclear” and that might provide some hope, but the path is not clear as the technology is still under development. Solar isn’t going to cut it because the sun doesn’t shine at night and in Canada it barely shines all winter. There is a correlation between those long winter nights and the fact it is so darn cold at about the same time. Imagine having to charge your cell phone using a hand crank from December to the end of February. In the cold. And dark. Unless you have some furniture to burn.

#108 Grunt on 09.10.20 at 7:01 pm

I can’t get parts for my Jagmeet Singh bicyle. Because of Covid. Those folding16″ tires are on backorder and it’s a 5 week wait to see bicycle repair man. I think the NDP is pretty much riding out.

#109 Steven Rowlandson on 09.10.20 at 7:05 pm

“Overall 86% of Canadians oppose government even trying to balance its books if it means a cut in benefits.”

This will not end well at all. Can you say Wiemar Canada?

#110 Island Gal on 09.10.20 at 7:05 pm

Hmmm….. I’m a female on Vancouver Island – completely BC west coast (best coast). I think Trudeau is being 100% irresponsible. My kids will be paying off his debts for decades, long after I’m gone. We grow so many big trees here, but money doesn’t grow on any of them. So, fear not, and don’t tarnish us all. There are many west-coast, educated women who want fiscal responsibility to to become a significant consideration, and who were concerned about Trudeau’s inability to budget from back in the days of “budgets balance themselves”. I would welcome cuts to federal benefits now that my 16-year-old’s CERB benefits have topped $13,000!

#111 gfd on 09.10.20 at 7:16 pm

CBC covered Trudeau’s socks and hair more than disgraced Liberal MPs
The CBC spent more time reporting on Trudeau’s physical appearance than they did on a Liberal MP who was arrested and two MPs who faced sexual harassment allegations.

Data shows that the CBC loves to talk about Prime Minister Justin Trudeau’s hair and socks.

In fact, the state broadcaster has dedicated 76 articles which mention either Trudeau’s hair, his beard or his hosiery.

Out of 98 mentions in these articles, Trudeau’s hair makes a total of 50 appearances, his socks are mentioned 43 times and his beard is referenced 5 times.

In comparison, the CBC spent more time reporting on the prime minister’s physical appearance than they did on the recent arrest of Liberal MP Marwan Tabbara over assault and other serious charges. Tabbara’s name only nets 60 results on the CBC website.

A number of former Liberal MPs who faced sexual harassment allegations were also relatively ignored including Darshan Kang who got 81 mentions and Massimo Pacetti who only received 73 hits.

Coverage of alleged RCMP spy Cameron Ortis was also overshadowed by Trudeau’s socks and hair, producing only 41 mentions by the CBC.

To achieve this count, True North relied on articles or posts from search results provided by the CBC’s official website. All mentions within the body text, descriptions or other parts of articles were included in the final total. Any reference on television or on CBC’s radio programming were not included in these figures unless a transcript was provided on the website.

The CBC wrote about Trudeau’s locks with glowing adjectives such as “best hair”, “legendary hair”, or “mop of curly hair.”

“Asked to choose a comic book hero at a news conference, the man widely acknowledged to have the best hair in this year’s election race said he’s such a geek that he shouldn’t be answering the question,” wrote CBC’s Laura Payton on August 22, 2015.

https://tnc.news/2020/09/09/cbc-covered-trudeaus-socks-and-hair-more-than-disgraced-liberal-mps/

#112 dosouth on 09.10.20 at 7:24 pm

Wow this “Millennial Realist” is really getting everyone’s goat. Trolling like an east coast tuna captain.

Guess the place needed shaking up but wait……XYZ will be paying for all the freebies, so guess he, she or non-binary will endure as we fade off into our memories….and good ones they are.

#113 Bill on 09.10.20 at 7:33 pm

#76 The TRUMP Pandemic/Depression on 09.10.20 at 5:07 pm
Garthy, garthy, garthy – you of all peoples know what he meant in that it would balance itself… just like the war debt eventually did… the economy grows faster than the debt grows and soon the ratio between this and that is back to a managable place… c’mon sir,,, the youngster PM along with his team are doing a fine job all things considered…
————————————————

Betcha you $1000 buks have never run a company?
Do you know who Ralf Klein was? Someone with a brain and didn’t have a scandal every what 6 months? Balanced and Alberta prospered big time. T2 just killed Alt.
T2 was blowing loot when things were doon ok…thats when yooos save up for rainy days.
Hes grasping at straws with his printing machine.
Hes an idiot.

#114 Nonplused on 09.10.20 at 7:34 pm

#106 Don Guillermo on 09.10.20 at 7:00 pm
#90 Nonplused on 09.10.20 at 6:39 pm

And if you are young or have the appropriate skills, consider moving to the US. Not California though. And not New York or New Jersey obviously. Texas maybe. Or Florida.
****************************************

Basically you’re saying stick with the “red” states.

———————————————————–

Well obviously. The US is a republic, not a democracy. The state level is where the democracy lies (and to a large extent the house, but not the senate. Even the electoral college is designed to give smaller states more of a say than they would have just by population alone.) Thus, your experience living in California can be very different than say Montana.

For example, look at Colorado (a blue state). They went ahead and legalized marijuana, even though it is still prohibited federally. But the most that the feds can do about it is to make it difficult for marijuana companies to use the federal banking system. This is because the US constitution does not give the federal government the power to regulate such things.

I also note that I work for some years under a TN visa in New Jersey and New Jersey opted out of NAFTA. I had to pay New Jersey taxes even though I resided in Canada, which NAFTA eliminated on a reciprocal basis. New Jersey just said “nope, we’ll be taxing anyone who works here and we don’t care about your stinking treaties”.

US states are not like Canadian provinces. They all have their own national guard. What nation? Well the state in question. Does any Canadian province have a national guard? Not that I know of.

So yes, red states. No point moving to a blue state as it will be same old same old as it is in Canada.

#115 Don Guillermo on 09.10.20 at 7:48 pm

#110 Island Gal on 09.10.20 at 7:05 pm
Hmmm….. I’m a female on Vancouver Island – completely BC west coast (best coast). I think Trudeau is being 100% irresponsible. My kids will be paying off his debts for decades, long after I’m gone. We grow so many big trees here, but money doesn’t grow on any of them. So, fear not, and don’t tarnish us all. There are many west-coast, educated women who want fiscal responsibility to to become a significant consideration, and who were concerned about Trudeau’s inability to budget from back in the days of “budgets balance themselves”. I would welcome cuts to federal benefits now that my 16-year-old’s CERB benefits have topped $13,000!
************************************

Thank you Island Girl. Unfortunately I know many on the Island that don’t think like you. Please have these discussions with your friends, neighbors and family.

#116 Nonplused on 09.10.20 at 7:53 pm

#25 physicist on 09.10.20 at 3:10 pm
Unfortunately, Erin O’Toole probably is the next step toward the disappearance of the Conservative Party of Canada as a serious alternative.

Consequently, during the leadership candidacy, O’Toole touted himself as a “true-blue Conservative”. This is a dog-whistle phrase for a theocrat, and was therefore elected by the theocrats in Canada who have flocked to join the conservative party as the only electable choice.

————————————-

A “dog-whistle” is something dogs can hear but is above the limits of the human ear. Phrases cannot be such, despite what CNN says.

“This is a dog-whistle phrase for a theocrat”. What a load of crap completely unsupported by evidence of any kind. How would you ever prove it? Can we test a bunch of theocrats (whatever those are in Canada) against a bunch of verified non-theocrats and measure their involuntary behavior?

Remember folks, the “dog-whistle” meme was invented by the US MSM to mock anything that DT said that they didn’t like but couldn’t really rebuke. It’s not a real thing. Conservatives don’t have a secret code book like a WWII spy listening to the radio.

Despite your bluster, it’s well known among party members that three of the four candidates had well-organized socon support, which O’Toole was able to concentrate for a final victory, pushing past the more centrist and electable MacKay. The next vote will show this was not an enlightened move by the Conservatives. – Garth

#117 Two-thirds on 09.10.20 at 7:59 pm

Yeah, pooched.

Ants: -100 billion

Grasshoppers: party on!

No election = permanent-deficit-budget passes

Election = liberal majority, followed by structural deficits

CAD = soon to join the JPY, but not for the same reason

Interest rates = soon to turn negative

Weather = see above

What are we to celebrate this thanksgiving??

#118 Nonplused on 09.10.20 at 8:06 pm

#102 ElGatoNerodeYVR on 09.10.20 at 6:51 pm
#44 dave on 09.10.20 at 3:57 pm
CRA sent me an form to pay taxes for 2020 on Sept 30 and then on Dec 31/20…instead of paying them in April of 2021.
===========
Dude, that’s called installments. If you paid tax the previous tax year(s) they will estimate that you will owe taxes next April and charge you in advance.Look it up online in your CRA account.

————————————-

Ya but you just ignore it if you know their number isn’t right and send in what you do owe. The penalties will be based on the realised numbers once you file.

#119 Nonplused on 09.10.20 at 8:11 pm

“Despite your bluster, it’s well known among party members that three of the four candidates had well-organized socon support, which O’Toole was able to concentrate for a final victory, pushing past the more centrist and electable MacKay. The next vote will show this was not an enlightened move by the Conservatives. – Garth”

Well I am not going to be able to argue with any of that, especially since I don’t know what a “socon” is. But that wasn’t what my post was about. I am just getting sick of the term “dog-whistle”. They don’t exist. If O’Toole concentrated votes, which is what every politician tries to do, he didn’t do it by using “dog-whistles”.

#120 The Daily Briefing on 09.10.20 at 8:13 pm

Hey Jared, what are your thoughts on Canada?

“I got into the housing short in 2013 and uh, you know, that didn’t work out, but whatever. But Canada is getting interesting. The biggest social spending program in the history of Canada. Trudeau is about to propose the biggest social spending program in the history of Canada, which is going to explode the deficit and universal basic income is a part of that. Canada is really going to be an experiment for basic income financed by MMT.

Jared Dillian – September 8, 2020

#121 Nonplused on 09.10.20 at 8:23 pm

And PS Garth I agree MacKay was the better choice. But as always you eat the sausage and don’t want to know how it was made.

#122 Limerick Larry on 09.10.20 at 8:34 pm

As Mr. Sock’s debt reaches a trillion,
UBI will be given to every civilian,
The printing presses are running honey,
Giving away all that new printed money,
The BOC is now a money give away pavillion.

#123 Nonplused on 09.10.20 at 8:36 pm

PPS, I know I am belaboring the point, but you did disparage me (“Despite your bluster”, the rest of the reply was good) so now I am all fired up, but what is a “dog-whistle”???? I have a dog but not a “dog-whistle”. I don’t think I have ever seen one actually. I take my favorite pup “who’s a good dog???” to the dog park and I don’t see any “dog-whistles”. Nobody has one. But let’s say I had one and blew it in the dog park. Would all the dogs come running? Or would they run away from that irritating high pitched noise? I don’t think dog-whistles even work on dogs. Treats on the other hand….

#124 Yukon Elvis on 09.10.20 at 8:37 pm

Despite your bluster, it’s well known among party members that three of the four candidates had well-organized socon support, which O’Toole was able to concentrate for a final victory, pushing past the more centrist and electable MacKay. The next vote will show this was not an enlightened move by the Conservatives. – Garth
……………………………

The next vote is already bought and paid for by free stuff. Doesn’t matter who the Conservative leader is.

#125 YouKnowWho on 09.10.20 at 8:41 pm

#80 Mark the Carney, Carney

Easy for you and me to say and perhaps even do. Not so easy when very few are sucking the air out of everyone’s life, turning their lives into servants and slaves. I thought that that was the core of our exchange.

The market is as fixed as it can be.

The fix is in favour of fewer and fewer beneficiaries, it appears.

#126 Drinking on 09.10.20 at 8:44 pm

Do not count out O’Toole; he has put together a rather impressive team so far. If a certain part of Canada re-elects this incredibly inept and really a corrupt government; remember “WE” etc, then this country deserves to split up!
Christ, that Mill poster is completely, oh, I need to be respectful but certainly lacks the proteins that flow to ones brain; wake up, somebody has to pay for it, Canadians, ha, corporations, ha, they will just move, pensions, touch mine after 40 plus years of work and I am out of here, good luck dreamer!

#127 Carl Sagan on 09.10.20 at 8:45 pm

Ottawa will spend maybe $400 billion more than it collects this year. That’ll push the accumulated debt to over $1 trillion. Economists figure deficits will run at least $100 billion each year the Liberals stay in poweer,
power, which compares with the worst-ever previous cock-up – Harper’s $56-billion hole during the credit crisis.
—————————————————————-

The universe is filled with billions and billions of galaxies and we are billions and billions of dollars in debt….

#128 down and out on 09.10.20 at 8:45 pm

We have crossed the Rubicon https://nationandstate.com/2020/09/09/quebec-city-says-it-will-isolate-uncooperative-citizens-in-secret-corona-facility/

#129 crowdedelevatorfartz on 09.10.20 at 8:49 pm

@#112 dosouth
“Trolling like an east coast tuna captain….”

++++

ahahahha good one.

I was on a tuna boat a few years back in North eastern PEI ( anecdote time MF and Ponzie…prepare your bile).

Helping a friend as ‘free” crew.
The two rich americans and the fella from Ontario paying a handsome sum to kill a blue fin were all looking very rather green from the choppy seas and the big rollers….and we still had 6 hours to go.
My buddy smoked cigarettes nonstop and the diesel engine was puking the fumes everywhere…..

They never stood a chance.

Spew flew off into a foamy sea that day my friends, the mackerel were happy.

No luck on the Tuna.

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

Its Tuna season right now if Ponzie or MF wanna live a little.

#130 belly rubs on 09.10.20 at 8:52 pm

#30 Mike in Calgary on 09.10.20 at 3:22 pm
Just some observations… So where is the additional $504 billion coming from?

$20 peanut butter, $30 cheese, $6 for a bag of bbq chips.

#131 Linda on 09.10.20 at 8:53 pm

The one question I’d like answered regarding UBI is how is going to be funded/paid for? If ‘the plan’ is to make UBI means tested – more like universal GIS but you don’t have to be a geezer to collect – then it isn’t by definition ‘universal’. Insofar as I can make out, ‘the plan’ is to hike taxes on those deemed wealthy in order to pay for this pity party. Enforced charity, with the goal of ‘equalizing’ society. That has been tried before under different names. Communism promoted everyone being treated the same. Oddly enough, even in the beginning there were those who received ‘more’. Don’t see that changing if UBI is implemented. I do however see exponential growth of debt. Not something I support, despite being female.

#132 AM in MN on 09.10.20 at 8:59 pm

#25 physicist on 09.10.20 at 3:10 pm
———-
Conservative principles traditionally include fiscal responsibility, but that tradition is being overridden by theocracy. Since religion is not a strong force in the Canadian general population, the conversion of the Conservative Party to theocracy is a death sentence for it.

————————————————–

Fiscal responsibility and social liberalism go together like heat and ice cream. The big costs to government are all on the social side of the government being the provider (“daddy”) to people who don’t have a traditional family to rely on for support, especially the elderly and single mothers.

Unless a society takes steps to nurture and promote traditional family structures….because it’s the only structure that works, most of the time, it will be left to print money and provide for a large segment of the population.

Didn’t see any of that under Harper, and thus the endless welfare state grows, doesn’t matter who’s in office.

Note as we celebrate the 100th anniversary of giving women the vote, we celebrate the 1/100th debasement of the US$/Gold.

Democracy dies once bankruptcy comes, then the banksters are in charge and everyone becomes a debt slave. All democracies eventually vote to bankrupt themselves, some just take longer.

If you understand this process then you can profit from it here and there, but for the masses, it’s just serfdom or revolution.

#133 Well travelled on 09.10.20 at 9:23 pm

Re: #3 Millennial Realist

I love to read the posts by the person. Clearly they have no idea that it will not be the Boomers who have to pay back these enormous debts but rather their kids!

Don’t get too smug as a Millennial, not sure that you yet appreciate what impact this will all have on you and your kids!

#134 Mb on 09.10.20 at 9:34 pm

I would have to agree with that stat. Many of my single parent female friends live quite well off all the benefits they get. Subsidies on child care no paying health care, they get into housing first as well as any child related thing before anyone else. They also work under the table and collect money from the divorced spouse etc. For us two fools with one parent taking care of the kids at home and the other slaving away we don’t get it their lack of ethics. They rather work part time and take everything they can get for free because why not it is offered they tell us. They also eat out tons and have their kids in more programs than we can afford. So glad we get to pay for their easy life. I want less government and less incentives. Sure let’s take care of people but let’s also stop enabling the lazy.

#135 Cici on 09.10.20 at 9:51 pm

Well, here in Québec it appears the second wave has already started.

This bug is absolutely terrifying, but so is the asinine spending that’s spiralling way out of control. I fear the coming debt hangover.

Whether there’s a second wave, third wave, fourth and/or fifth waves…one thing’s for sure: our leaders have got to figure out a way to better manage future pandemic spending suicide.

After all, even if a promising vaccine hits the streets tomorrow, I doubt COVID will be the last of the global pandemics.

Don’t know if it’s true, but I heard that if the entire planet went into lockdown for 14 days, the virus would disappear. If that’s true, the lesson learned going forward should be to implement a full but short (one to two month maximum) lockdown, along with some sort of rationing system to ensure everyone gets the basics rather than blindly handing out 10+ months of cash payments to anyone who claims they need them. Unfortunately, many are collecting bigtime benefits while working under the table tax-free. Not to mention all the hackers that cashed in on the free CERB money.

Surely someone who doesn’t suck at logistics can come up with a better way of implementing a more effective, shorter-term plan.

#136 Who does these polls? on 09.10.20 at 9:55 pm

I am a female living in BC and not one female I know agrees with the shutdown and excess spending. In fact most of us would like our kids to be able to live in Canada when they grow up but at this rate, anyone who works will choose to live somewhere the tax rate isn’t upwards of 75% to pay for this year of stupidity.

#137 crowdedelevatorfartz on 09.10.20 at 10:02 pm

Yo Millennial Surrealist
Care to tell us how Trudeau is “different”?
In the political game of ‘whats in it for moi?”

https://www.canadapolicereport.ca/2020/09/08/more-than-4-million-seized-following-an-rcmp-corruption-investigation-24-6-million-fine-levied/

https://www.canadianmanufacturing.com/manufacturing/snc-lavalin-appoints-new-chairman-to-oversee-shift-toward-engineering-260220/

Poor, naive, Millennial Egregious ……
…..actually believes Trudeau cares about the environment…….
Sent to bed without dinner.

#138 Boomer'd on 09.10.20 at 10:06 pm

#3 Millennial Realist on 09.10.20 at 2:12 pm

Millennia continue to show their greed, ignorance, lack of motivation, self-discipline and … well, you know the story. When I was half your age I had twice the ambition you will ever have.

These days, my biggest problem is figuring how to spend the wealth I have accumulated over the years. Everyday is like XMas for me … yet my net worth continues to skyrocket. And you … pathetic as you are … take solace in knowing that I will pay more in taxes. I say … bring it on. Still won’t make a dent.

I’ll be thinking of you as you struggle through your pathetic life. Now … get back to work as I spend the rest of the evening watching the sun go down from my McMansion. If I’d known retirement was this good, I would have done it years ago!

#139 dogwhistle on 09.10.20 at 10:20 pm

#18 crowdedelevatorfartz on 09.10.20 at 2:49 pm

“Pitchforks and torches will look very becoming on Millenials outside Parliament ….dont you think?”

Torches produce CO2 so millennials can’t use torches. duh.

Side note:

Looking forward to when TFSA and RRSP are taxed to the hilt, because social justice (no blackface eh) and all that.

Will be fun to read this blog when it happens.

Lol

#140 crowdedelevatorfartz on 09.10.20 at 10:23 pm

…………aaaaaand just before the Prime Minister announces a bold new way forward(with YOUR money)……

the rats scurry from the media light…….

https://www.bnnbloomberg.ca/we-charity-closing-operations-in-canada-1.1491624

sad little Millennial surrealist actually believes Trudeau is “different”

ahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahah

Politics….the second oldest profession.

#141 april on 09.10.20 at 10:23 pm

Some people ask is Martin Armstrong believable?

#142 cowtown cowboy on 09.10.20 at 10:25 pm

#73 FreeBird on 09.10.20 at 5:03 pm
#51 Don Guillermo on 09.10.20 at 4:16 pm
#12 FreeBird on 09.10.20 at 2:27 pm
As usual I’m not with public majority and as a woman living in Ontario decidely don’t support JT or give him (or any political leader) a pass.

On a diff topic talking to others seems more snowbirds looking to sell RE (Arizona, Florida etc) due to travel bans and general fear from perceived unrest and maybe unsafe conditions in US right now (not just health.) Are there stats on this? Not just on snowbird sales but perceptions. Interesting to see.

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

A friend of mine flew to Palm Springs a few weeks ago to sell his house. No restrictions on flying to most US destinations. More restrictions on driving although they are not consistent. He is actually buying another home in PSP. Different neighborhood.
————————
Makes sense with driving vs flying. Most I hear of drive. I can also see some buying in some areas if prices are right. Always interesting to hear real stories. Thx

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

You’re very welcome.
One more anecdote. We were with friends yesterday at the Wild Rose brewpub. Side note … great young band playing called The Frontiers. Anyways this couple’s friends have a second property in Whitefish Montana and wanted to go down. When challenged about essential travel at the Coutts/Sweetgrass border they said their property had flooding problems. When they arrived at their property there were officials waiting. Don’t know the ending yet as this is happening now.

HMMMMM, i heard the same thing from a buddy who said he knew the people trying to get to Whitefish.. and that now they have a 5yr ban from the States and a property they can’t visit….maybe this is morphing into urban legend territory…

Anyways, LIBERALS SUCK, wake up ontario and smell the debt…jeezus

#143 Cici on 09.10.20 at 10:30 pm

#55 YouKnowWho

PQ? You meant CAC, right? That’s the leading party in Québec right now.

#144 Cici on 09.10.20 at 10:32 pm

#55 YouKnowWho

Typo, sorry: CAQ (Coalition Avenir Québec)

#145 YouKnowWho on 09.10.20 at 10:38 pm

#84 Ronaldo on 09.10.20 at 5:32 pm

Still waiting for the 1st wave.

—————————————————————–

:-)

#146 Shirl Clarts on 09.10.20 at 10:57 pm

#53 Keith on 09.10.20 at 4:28 pm
So if I leave my wealth to accumulate, draw no income, no job, no CPP no OAS no pension do I get UBI?
^^^^^^;^^^^^^^^^^^////^^&^^^^^^^/^
Do you get a GST cheque?

Don’t worry. UBI won’t happen. Any form of permanent CERB like handout will tip us over the edge.

#147 Drinking on 09.10.20 at 11:19 pm

#132 AM in MN

I agree and disagree! In my many years that I have lived on this planet I agree that there should be help for those that really needs it but totally disagree with those that completely take advantage of our current policies and cry fowl!

See it everyday and it sickens me! There are single moms out there that have gone through incredible hardships and deserves the help while there many ( and I do know a few) that are not living responsibly and expecting others to play into there ” how bad men are” it goes both ways! Recently a cracked out mom pushing a carriage with a child in it asking for money; sure I gave her a few bucks only because I was more concerned for the child; did it go to the child, probably not, should have I called someone, they get hundreds of calls a day, was there something done about it, I doubt it!

My point, we all need to take responsibility in one’s choices and I mean choices unless a terrible situation happens; stop expecting everybody else to take care of it with exception to education and health!

My parents arrived with two kids and a hand shake and that was all; guess what, it was damn hard, but they made the best of it!

#148 DON on 09.10.20 at 11:24 pm

@Crowded

I betcha they couldn’t wait to get back to land.

Your fire story the other days. Time frame 70s’, 80s, 90s or just recently?

#149 SoggyShorts on 09.10.20 at 11:26 pm

#53 Keith on 09.10.20 at 4:28 pm
So if I leave my wealth to accumulate, draw no income, no job, no CPP no OAS no pension do I get UBI?

#27 Dirty Dan on 09.10.20 at 3:19 pm
UBI better be exactly that – “UNIVERSAL”.
There had better not be a means test like welfare. I want to take the nest egg I worked for as a safety net, retire early and collect UBI. Then I can be a born again millennial.

*******************************
I’d be a little surprised (and delighted) if it was like that since I plan to retire soon.
There must be some way to disqualify those who make significant unrealized gains though…

#150 SoggyShorts on 09.10.20 at 11:33 pm

#131 Linda on 09.10.20 at 8:53 pm
… If ‘the plan’ is to make UBI means tested – more like universal GIS but you don’t have to be a geezer to collect – then it isn’t by definition ‘universal’…
*********************
It is though. If they guarantee that every Canadian will have an income of at least $24k then that would be called a universal basic income, no?
And, if you already earn 50K, then you have an income of greater than $24k and get nothing extra from the government.
This does not contradict the idea of a basic minimum income.

This is the only possible “UBI” since (as many have pointed out) giving literally everyone more money than they government takes in in taxes isn’t remotely sustainable.

That said, I still think it’s a bad idea.

#151 mike from mtl on 09.10.20 at 11:52 pm

#135 Cici on 09.10.20 at 9:51 pm
Well, here in Québec it appears the second wave has already started.
//////////////////////////////////////////////////////////////

Oh please, if anything the amount of publicly this virus has has been incredible. There’s so much worse stuff out there to truly be concerned about that never even caused such a global reaction. H1N1 aka Spanish/Swine flu has many rounds over centuries. No lockdowns or silly “social distancing” there.

Rabies is honestly terrifying – weeks to months of no symptoms then once it is obvious too late you’ve got a 100% certain death sentence. All the money in the world won’t save you from a Rabies infection.

Polio is still around in fifth world countries, despite being mostly just an annoyance it can, in very slight amounts, asypmtonmatic spread (.05) lead to terrible paralysis to children as 1950s media would know. We’ve got a reasonably good vaccine for Poliovirus but it’s never truly gone.

Here in QC we have a ‘casedemic’ like the EU. Okay so we’ve got some more cases but so what? So long as it does not spread out of control to the venerable targets, there’s worse things to worry about. Test 50% more you get so many more cases, in March we sort of guesstimated the Deaths just like NYC. Then did stupid stuff to make it worse. There’s no practical way to test everybody in 1 day to get the real stats. If we barely tested (10x less) like BC, QC would hardly have mention.

Do I think we need to take this seriously: yes for sure.

Do I think the government response has been inconsistent to authoritarian: yes.

#152 april on 09.11.20 at 12:00 am

#136 – Listen to the Monk Debate; Has the Scientific community Overreacted to the Threat of covid -19.
You get both sides of to shut down or not. Both sound convincing.

#153 NSNG on 09.11.20 at 12:07 am

Socialism is the lie that human nature can be paid enough to sit in the corner and be quiet

#154 fishman on 09.11.20 at 12:11 am

Funny how two people can support the same political leader for entirely different reasons. I wanted Mckay to win. I know he’s so loathed out here that we would likely have Kim Campelled him. Grease up the road to Wexit. Garth figures Mckay would get seats in the east. More chance to form a progressive conservative government. Maybe, but good chance Cons would have been decimated in Albt.,Sask., & B.C. interior. Mackay would probably have cost them 25 -45 seats in the west. For now I support O’Toole. I believe O’Toole is a much better choice to keep Canada together. If he can’t overcome the selfishness & prejudice of eastern Canada towards the west , well, we’ll cross that bridge when we come to it.

#155 Tra-la la la on 09.11.20 at 12:14 am

WE has left the building, conveniently, while no questions that may turn into subpoena’s can be asked. Or does WE have Parliamentary Privilege? Easier to run, easy to hide in a cottage for months on end until the heat dies down and a new beard is cultured? Justin has set a bad example for like minded alleged scofflaws everywhere.

Mou-vember is just around the corner. I can’t wait to see what Justin’s wearing….titter. Who cares anymore, a trillion here, a trillion there and soon we’re doing giddy pirouettes behind a queens back knowingly spitting at the people who put you where you are. .

#156 Bc nomad capitalist on 09.11.20 at 1:24 am

Hi Garth. Great blog today. I have a question. Why hasn’t the finance minister and Trudeau been arrested and charged by the Rcmp for the WE scandal. Above the law? Immunity ? Thx
Nomad

#157 jane24 on 09.11.20 at 1:45 am

Well Garth my British AirBnB is doing just fine. It is a detached house and I do pay tax on the income as it is and was intended to be part of my pension. Govt help during Covid for an AirBnB was grand, £12,000 in free money and no property tax to be paid for the foreseeable future. There is little zoning here so no rules to break, the local council know it is an AirBnB as it is registered as a commercial property and are happy about it as it provides tourist accommodation near a major cricket ground.

I do not compete with the local hotels as my guests are exclusively families with small children and pets. Families that would never go into a hotel as it wouldn’t suit but if AirBnB was not around would end up squeezed into their grandma’s spare room having a miserable time.

So there is a legitimate market for AirBnb just with the right property and income taxes paid. Banning the lot will be a shot into city finances in Canada. Tax them instead and control the condo options as those are certainly totally unfair to the legitimate owners who live in those buildings.

When we travel home to Canada we use http://www.homeexchange, no money changes hands and free tourist accommodation. Part of that gig economy. We had a wonderful free house in Outremount last summer!

#158 BS on 09.11.20 at 2:37 am

Canada is out of control and it appears will only get worse. The Canadian dollar is what will be sacrificed. There is really no choice at this point with the consumer debt, government debt and structural government deficits. People want the government to blow their brains out on debt. The government wants people to blow their brains out on debt. Both will.

If you earn money in Canadian dollars your purchasing power will plummet year after year more than ever. Think the 70s. If you own the right business you may be okay because you can increase prices. If you stay in business. Wage slaves or those on a fixed incomes will be screwed. Those with liquid assets can move out of CAD dominated holdings. Holding CAD cash will be worse than ever.

There will be lots of free hand outs but it will be in devalued Canadian dollars. A $15 minimum wage through UBI does not mean much if everything costs double or triple. The wealth gap will increase. This has been done so many times in history and it always ends the same way. The middle class pay the price. The wealthy will do fine because they can see what is happening and have choices. If you don’t own gold or gold equities it is not too late. The USD is on sale. The death of the CAD is inevitable.

#159 dgb on 09.11.20 at 3:23 am

I am also female living in BC and did not vote for the drama queen and will certainly not do it next time either…only next time I will surely tell everyone I know of the idiocy of our PMs policies and how he is taking us into the biggest financial hole this country has ever seen..I know of several people receiving benefits from his policies that are certainly not necessary for them but they take them because they are eligible…why are children who live at home and go to school allowed to get cerb of $2000 per month because they lost their after school job? why are retired people who live comfortably on their pensions allowed to have $300 or $500 deposited to their accounts when not necessary as their lives have not changed financially since covid? if anything they stay home more and thus have extra cash already!!this idea of fairness is ridiculous…UBI is a dream from the money tree and it does not exist in real life…those who aspire to it need mental help…give your head a shake people…your children will suffer in their lives for your inability to live in the real world and make your own way…I pray JT is gone from office soon and someone with a brain will take his place…maybe Mr Garth Turner or his son or his grandson or maybe even his daughter or his granddaughter !!!God help us here in Canada as we have lost our way !!!

#160 Leo Trollstoy on 09.11.20 at 3:25 am

Easy to pay for UBI

Government sell bonds. No limit to demand

Government can even print money to buy their own bonds themselves

Inflation?

What’s inflation?

Easy UBI

#161 BillyBob on 09.11.20 at 3:44 am

“If you have wealth and think the role of government is not to remake society, you’ll hate it.”

Yep.

I would. I do hate it. And it makes me feel simultaneously grateful to not be contributing one penny towards such a system, and sad that it is coming to this. Watching your homeland accelerating in a terrible direction is not enjoyable even as the relief at being outside of it is palpable. fishman nails it in #89. It’s insightful having a Czech partner who also observes the shift to socialism with incredulity. She already knows the ending of this song and can’t believe free people in Canada want so badly to sing it. No one is forcing people into debt slavery, they’re eagerly embracing it. Can’t get those chains on fast enough. Bizarre. TurnerNation takes a lot of flak for his posts but he’s not exactly wrong.

As far as those trying to enlighten MF with some basics about stats, I wouldn’t bother. He’s never been wrong about anything in his life, ever. Don’t waste reason on these types.

#162 LP on 09.11.20 at 7:33 am

#105 Ronaldo on 09.10.20 at 6:57 pm

You’re spot on. Same thing could be said about a clipboard or a hard hat.

F73ON

#163 John Boy Walton on 09.11.20 at 7:42 am

#161 BillyBob on 09.11.20 at 3:44 am

“. TurnerNation takes a lot of flak for his posts but he’s not exactly wrong.”
—————————————————————–

If he’s not exactly wrong, then is he also not exactly right? Which is it cowboy?

.

#164 Mark the Carney, Carney on 09.11.20 at 7:44 am

#160 Leo Trollstoy on 09.11.20 at 3:25 am
Easy to pay for UBI

Government sell bonds. No limit to demand

Government can even print money to buy their own bonds themselves.
—————————————————————–
Congrats Leo! You are now qualified to be a central banker!

#165 Don Guillermo on 09.11.20 at 7:54 am

#90 Shirl Clarts on 09.10.20 at 5:57 pm
#49 Don Guillermo on 09.10.20 at 4:11 pm
If these polls are remotely accurate the most revealing thing to me is how weak and selfish the average Canadian is. Obviously they don’t care about future generations or even this country. Give me as much as you can and to hell with Canada … can’t wait for November.
^^^^^^^^^

Yeah, November. Why wait. Go now, ya Hypocrite.
**********************************

Waiting for my direct flight.

#166 Mark the Carney, Carney on 09.11.20 at 8:01 am

#125 YouKnowWho on 09.10.20 at 8:41 pm
#80 Mark the Carney, Carney

Easy for you and me to say and perhaps even do. Not so easy when very few are sucking the air out of everyone’s life, turning their lives into servants and slaves. I thought that that was the core of our exchange.

The market is as fixed as it can be.

The fix is in favour of fewer and fewer beneficiaries, it appears.
—————————————————————-

Yes that was the core of our exchange and I am powerless to change that reality so I am grateful as you said that I can still enjoy this fragile life on this rotating orb in the universe…

#167 crowdedelevatorfartz on 09.11.20 at 8:03 am

@#140 DON
“Your fire story the other days. Time frame 70s’, 80s, 90s or just recently?”

++++

1980.
Forestry would use low risk prisoners to help fight forest fires.
Dont know if they do that now. Would probably violate the prisoners “rights”.

#168 Karl Marx, Groucho's Cousin on 09.11.20 at 8:04 am

So many bloggers hating the idea of distributing wealth in this great land. As my cousin Groucho used to say, “I won’t join any club that would have me as its member.”

You have posted four times today under different names. Stop it. – Garth

#169 crowdedelevatorfartz on 09.11.20 at 8:08 am

@#163 John Boy
“If he’s not exactly wrong, then is he also not exactly right? Which is it cowboy?”
+++

He’s really annoying?

#170 crowdedelevatorfartz on 09.11.20 at 8:12 am

@#168 Karl Marx

Never be ashamed of who you are.
Pick one truly unique name and embrace it.
Very liberating…..
Sad, pathetic, I know……..but liberating all the same.

“Trudeau’s Debt Slave” is still up for grabs but probably not for much longer.

#171 Don Guillermo on 09.11.20 at 8:21 am

#124 Yukon Elvis on 09.10.20 at 8:37 pm
Despite your bluster, it’s well known among party members that three of the four candidates had well-organized socon support, which O’Toole was able to concentrate for a final victory, pushing past the more centrist and electable MacKay. The next vote will show this was not an enlightened move by the Conservatives. – Garth
……………………………

The next vote is already bought and paid for by free stuff. Doesn’t matter who the Conservative leader is
****************************************

Rich kids learn early in life how to buy their way out of any situation. T2 used this endlessly and effectively before he became PM. As PM he carried on buying the media, law enforcement, judicial system and most importantly the voters.

#172 crowdedelevatorfartz on 09.11.20 at 8:26 am

Spend and tax, spend more and tax more.
The Liberal way.

https://nationalpost.com/opinion/john-ivison-get-ready-for-the-liberals-secret-new-carbon-tax

The Canadian economy and thousands upon thousands of jobs are toast under these “spend and tax” socialist dreamers.
The Trudeau Liberals will reap what they sow.

Crush the economy for his place in “history” while banishing the Liberal party to the wilderness for at least 20 years.
Brian Mulroney comes to mind.

#173 Don Guillermo on 09.11.20 at 8:33 am

#142 cowtown cowboy on 09.10.20 at 10:25 pm

HMMMMM, i heard the same thing from a buddy who said he knew the people trying to get to Whitefish.. and that now they have a 5yr ban from the States and a property they can’t visit….maybe this is morphing into urban legend territory…
***************************************
Almost forgot about the 5 year ban.

Anyways, LIBERALS SUCK, wake up ontario and smell the debt…jeezus

#174 IGV on 09.11.20 at 8:48 am

Garth

Gut feel on new tax bracket?

Nausea. – Garth

#175 Toronto Ex-Host on 09.11.20 at 9:04 am

I used to be a small-time Airbnb host in downtown Toronto, I rented two condos in buildings that allowed short term rentals with permission from the owners. I hosted respectable families and groups from all around the world who wanted something different than a generic hotel room. I hired local cleaners, paid my taxes (about $30K in 2019), and spent every penny of profit back into the local economy. Hosted over 600 bookings over 4 years, and never had a single complaint from the neighbours.

Now the city has decided to shut down my business in favour of the big hotel chains and their unionized employees. CRA loses out on that extra revenue, my cleaners are on CERB, and my landlords are scrambling to find new tenants now that a huge chunk of millennial renters have gone home to mom’s basement. When tourists come back they’ll have no choice but to stay at the Hilton or Hyatt, and all that money will flow to the big corporate owners. Well done, Toronto…

While you sound like a responsible guy, remember the ‘big corporate hotel owners’ employ far more cleaners, cooks and low-income-earners than Airbnb hosts ever did. Also your two units were not on the rental market and likely helped push real estate valuations higher. It’s not all black-and-white, by any means. – Garth

#176 YouKnowWho on 09.11.20 at 9:27 am

#166 Mark the Carney, Carney on 09.11.20 at 8:01 am

Yes that was the core of our exchange and I am powerless to change that reality so I am grateful as you said that I can still enjoy this fragile life on this rotating orb in the universe…

—————————————————————-

MtC,C,

I think that’s the point of view that’s missing quite often.
I’m not going to label myself as having allegiance to a party or an ideal. Truth tends to be somewhere in between and should challenge us because truth isn’t easy and fluffy and soft.

How can a person smell the flowers and enjoy life when they are economically disadvantaged? Amazon only see the side of the coin that is positive for them, not the other side of the coin that has destroyed hundreds of thousands of livelihoods so that people can be lazier than ever. Corporations and disruptors increasingly drive down opportunity and earnings for the masses, benefiting fewer and fewer individuals through consolidation and incredible market share.

UBI…I’m not firmly on one side or the other on this one. If nothing else it is a competitive floor for these disruptors to let people earn a working wage. Why should someone slave 12 hours a day to barely sustain an existence, if that? How can they enjoy smelling a flower when 12 hours of misery beckons tomorrow? And the day after? It would ensure these companies compete against this floor.

I think we’re looking at things like sexism, racism, but not economism – is that a thing?

Think about it logically. Why should you have a say over my life? My personal choices? Why should I have say in yours? The whole concept of human rights is to prevent discrimination, right? After all, what difference does it make in your life if I choose to be gay? Trans? Single for life, never to mate? None. It makes no difference. What you feel, say, want has no impact on my life, and what I do has no impact on yours.

Well, with this economic elephant in the room, it is not the case. Others clearly have a say upon others through this economic power. I’ve actually had African individual fake his name on the resume submissions because he was not getting interviews with their native name that sounded black. That’s one small example of reality out there, but we know it is much much much broader than this when it comes to economic opportunities, especially with all this gig economy, no security, pay check to pay check stuff.

There is a real issue on this point. We can’t pretend things as they are are good enough. Clearly they are broken, politicians have preserved it for the good of the corporations, and masses are resigned because we know change for better is unlikely.

#177 YouKnowWho on 09.11.20 at 9:30 am

#143 Cici

By PQ I meant Province du Québec

#178 BayArea on 09.11.20 at 9:36 am

The UK has overhauled its shared ownership policy between homeowners and the Govt with homeowners able to purchase as little as a 10% stake in property with the ability to increase their share in 1% increments. Garth check out the link below, its from the DailyMail
https://mol.im/a/8709105

Think that might happen in Canada? I know there is something similar but not to that extent.

#179 JB CONDO DEATH on 09.11.20 at 9:41 am

#157 jane24 on 09.11.20 at 1:45 am

Well Garth my British AirBnB is doing just fine. It is a detached house and I do pay tax on the income as it is and was intended to be part of my pension. Govt help during Covid for an AirBnB was grand, £12,000 in free money and no property tax to be paid for the foreseeable future. There is little zoning here so no rules to break, the local council know it is an AirBnB as it is registered as a commercial property and are happy about it as it provides tourist accommodation near a major cricket ground.

I do not compete with the local hotels as my guests are exclusively families with small children and pets. Families that would never go into a hotel as it wouldn’t suit but if AirBnB was not around would end up squeezed into their grandma’s spare room having a miserable time.

So there is a legitimate market for AirBnb just with the right property and income taxes paid. Banning the lot will be a shot into city finances in Canada. Tax them instead and control the condo options as those are certainly totally unfair to the legitimate owners who live in those buildings.

When we travel home to Canada we use http://www.homeexchange, no money changes hands and free tourist accommodation. Part of that gig economy. We had a wonderful free house in Outremount last summer!
………………………………………………………………..
Condo owners should never be allowed to rent out their units under Airbnb. That is what hotels are for. In a hotel you expect noise and smelly pot partying. Not in your home!

#180 millmech on 09.11.20 at 9:51 am

#135 Cici
How is the bug terrifying? Here in BC 200+ people a day are getting this terrifying bug and nothing happens, most people are suffering from a fever for a couple of days that is it. We have had two deaths lately that were in long term care facilities from the bug( both were over 80 and had other health issues).
One would think that with over 200 people a day testing positive that the hospitals in BC would be overrun with people gasping for life waiting for ventilators.
Also those 200+ positive people are only discovered because of testing you have to figure this virulent terrifying virus probably is running rampant through our population to the factor of ten to hundred possibly.
So anywhere from 2000 to 20,000 people on any given day have this virus and yet no uptick in hospitalization or deaths have occurred.
My family physician has said you should only worry about this virus if you are in a care home, over the age of 80, with multiple medical issues.

#181 Dr V on 09.11.20 at 10:03 am

150 good morning soggy

That would be called a “guaranteed minimum income”. The biggest problem with it is the disincentive to work.

The “universal basic income” would go to everyone and would be paid back through taxes. The trick is finding the right level of UBI and setting the tax rate so that the majority of workers find no net change in take home pay.

There is also ” negative income tax” which appears to be more of a form of UBI.

Beware which system (if any) will be offered.

#182 David Hawke on 09.11.20 at 10:26 am

Spot-on TurnerNation “The New System is built upon social-corporate tyranny worldwide. Proof: we no longer require a sitting parliament in this country.”

Herr Harper royaly screwed the CONS which shall be evidenced by their dismall showing in the next election wheretheonly viable option will be Mad Max’s PPC Party!

#183 Damifino on 09.11.20 at 10:43 am

#172 crowdedelevatorfartz

The Trudeau Liberals will reap what they sow.
———————————–

You have no idea how I wish this were true. ‘Wish’ being the operative word. But, yet again, we’ll elect the leaders that reflect us, then forgive them for the mess they make which we collectively own.

How could it be otherwise?

Democracy has no requirement for voters to be well informed about anything. With social media having fully erased a distinction between politics and show business, the outcome seems forgone… and rather bleak.

#184 BillyBob on 09.11.20 at 10:56 am

#163 John Boy Walton on 09.11.20 at 7:42 am
#161 BillyBob on 09.11.20 at 3:44 am

“. TurnerNation takes a lot of flak for his posts but he’s not exactly wrong.”
—————————————————————–

If he’s not exactly wrong, then is he also not exactly right? Which is it cowboy?

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

It must be nice to live in such childlike simplicity. Which one are you, a “libtard leftist” or a “right-wing fascist”?

Because obviously there can be nothing in between.

#185 TurnerNation on 09.11.20 at 11:17 am

Still on the business of sports topic, for those which do not see CV as the new global religion (The “fight against CV” has replaced “the fight against global t3rrorism” – say where’d those IS chaps get to? Laid off, not scary enough, collecting Cerb?)

We see the sports stars, first responders on the telescreen forced into kneeling for the new global belief system. Such reverence. What if they already have a belief system? Too bad. Every man had his price. You wish to be a sport star right, big homes and fast cars right? Then submit. Kneel. On command of your master.

See the new global system wants control over your mind and body.Jab time soon. As mentioned they control every step and breath and movement we take – by new law. And no partying! Else granny will perish. This new CV religion is very mysterious! Your rituals determine the lives of others. Rituals must be correctly performed daily else we will be smited. Never mock, this is sure fire path to eternal CV damnation.

And remember, you are NOT healthy, you are simply showing no symptoms. You don’t like, actually know anyone with so much as a sniffle. No matter, it has been prophesied – a 2nd Coming of the Wave!! Soon, any day now. Very soon. (In public all I hear people talking about is a 2nd Wave. That’s their new belief system.)

Submit to this belief system. Follow the marks on the ground. You wish to pay your mortgage and keep your job right? That’s your price. Your Mark. Bought & Sold.
The are getting the children into this New System asap this school season. That’s the real goal. Not us we’re beyond re-education.

#186 Lambchop on 09.11.20 at 1:00 pm

#120 The Daily Briefing on 09.10.20 at 8:13 pm
Hey Jared, what are your thoughts on Canada?

“I got into the housing short in 2013 and uh, you know, that didn’t work out, but whatever. But Canada is getting interesting. The biggest social spending program in the history of Canada. Trudeau is about to propose the biggest social spending program in the history of Canada, which is going to explode the deficit and universal basic income is a part of that. Canada is really going to be an experiment for basic income financed by MMT.

Jared Dillian – September 8, 2020

_______________

Makes sense. Print money out of thin air to fund false wages in the form of UBI. Why didn’t we think of this sooner? So brilliant. So simple. So problem-free.

#187 Kenneth MacDonald on 09.11.20 at 11:49 pm

Let our old friend Mr Market take care of Airbnb, Garth.