Exodus

So here’s a big surprise. Not.

US financial giant JP Morgan has discovered younger employees who WFH are less productive, inefficient and more untrustworthy. What a shock that people in their jammy bottoms, watching TikTok on their phones and playing footsie with the cat while they Zoom a client were not fully engaged? Who knew?

As this paleo blog has stated a few times, this is not the future. Remote working will not replace the office. Those downtown towers will not stand empty. Employers want to see you, and anyone with a career aspiration should want to see the boss. The workplace is where innovation, collaboration, mentorship, experience and social interaction happen. When human nature chances, so will the nature of work. That’s not now. WFH is doomed. At least on a large-scale basis. That means about three million people still without good hygiene will eventually be heading back.

And what a shock that will be in, oh, Hamilton.

That once-gritty, steel mill-loving place 70 km beyond the Kingdom of 416 has now become Pandemic City. An exodus of WFHers has made its way down the near-empty QEW, escaping Toronto crazy prices to snap up – and inflate – properties in Hamilton, Burlington, Grimsby and environs.  A house in the east end, listed just above three hundred thousand had 172 showings resulting in 15 offers, and sold for 30% above asking. As reported locally, digs listed for $699,000 garnered 63 showings and 13 offers, giving its owners $885,000.

And are all these GTA refugees planning on trucking back to work in the Big Smoke?

Nah. Not a chance. GO Train ridership into Toronto is down 90%, for example. An army of millennial buyers figure they can own something affordable and let Covid take care of the rest. The virus has fostered the belief traditional workspaces are kaput, commuting is for idiots, enlightened employers understand work-life balance and the need to wear really, really comfortable pants, plus technology will eliminate supervision, trips into the germy outer world and being judged. But, of course, everyone still expects full pay.

Yes, it’s a fantasy. Some may live this dream. Most will not. They will be outsourced, overlooked or downsized. Forever forgotten. In Hamilton. Or Barrie. Or Hope. Nelson. Ladysmith. Kingston. Fredericton. Truro. Lloydminster. Even Mississauga.

So the latest stats just arrived. The phemon is national. Real estate sales in August were 6% greater than in July and 44% above the year before. Prices across Canada climbed 18.5% in twelve months – in a pandemic, a recession and amid double-digit unemployment. Just imagine how great things would be if we had Ebola and locusts.

By the way did you catch this comment yesterday from federal Treasury Board President Jean-Yves Duclos? The Libs have no choice now, he said, when it comes to further opening the spending spigot: “We need to keep investing in Canadians to avoid moving from a recession to a depression.”

Seriously. He said that. So regardless of what the Throne Speech contains next Wednesday, all of us need to be aware the virus  – and the way governments responded – has blown a hole in the economy that will take a long, long time to repair. But it will.  Normal will be normal again. Meanwhile low rates are facilitating rash real estate decisions while the social media-infused WFH meme is providing justification for them.

A Mill couple sold a mortgaged $760,000 condo in Toronto, for example, and bought an ancient Hamilton bung for $700,000. He’s remote-working because of Covid. She’s on mat leave. Both have jobs are back in 416. They need two incomes. “We can’t really make a decision based on this future because nobody knows what will happen,” she told a local reporter who was writing about the hot market. “So we had to use the information we had. We’ll figure it out when we come to it.”

Yes, the future’s an abstraction. Forget it. Now is what counts, baby. Sha-la-la-la-la-la, live for today.

Where have I heard that before?

‘The budget will balance itself.’

Source: Bloomberg. Click to enlarge. PPE recommended.

 

214 comments ↓

#1 TurnerNation on 09.15.20 at 4:24 pm

Can confirm. Today in the Toronto Financial core I saw many more suits walking around. I’m there weekly, 12-2pm time frame, easily 3x as many as last week or two.
Bymark patio humming.

#2 Leo Trollstoy on 09.15.20 at 4:27 pm

Not first!

#3 Millennial 1%er on 09.15.20 at 4:31 pm

Staying productive working remotely is possible. You just need to have a job that actually gives you work. Maybe the issue isn’t remote work, but rather that some jobs are 90% kissing ass?

#4 Millenial Surrealist on 09.15.20 at 4:34 pm

Gig’s up boomers… it’s a new world starting Sept. 23… hop on board.. yer living in the past…

#5 YouKnowWho on 09.15.20 at 4:34 pm

I guess the bet is that all those running away won’t need to WFH Garth.

They’ll get UBI!

See..there…I just made fun of UBI like I’m against it. But really, I want it so that all these slave driving “disrupting” companies that are exploiting human beings have to fess up and pay them a wage that is competitive to get them off the UBI.

I mean, SCREW Amazon!

Go ahead, type in relentless.com into your browser, see what happens.

#6 Automatron on 09.15.20 at 4:41 pm

You should have dusted off the lyrics when you took your album out this morning. The words are actually….
“Sha la la la la la live for today” (vice na na na na)

Then, for the Millennial Realist, the next line is …..
“And don’t worry ’bout tomorrow, hey”

#7 Dolce Vita on 09.15.20 at 4:42 pm

“But, of course, everyone still expects full pay.”

THAT was good.

——————————

“Money for nothin’ and chicks for free.”

Who knew Mark Knopfler got it right in 1985 (actually, the delivery guy)?

#8 Jimmy Zhao on 09.15.20 at 4:42 pm

While Q can work from home, James Bond cannot.

Q: “I’ll hazard I can do more damage on my laptop sitting in my pajamas before my 1st cup of Earl Grey than you can do in a year in the filed.

James Bond: “So what do you need me?”

Q: “Every now and then a trigger has to be pulled”

#9 Howard on 09.15.20 at 4:43 pm

Garth if I recall correctly, you have told Millennials on numerous occasions to stop whining about outrageously high Toronto and Vancouver real estate and move to Moosonee or Uranium City. In doing so, you stated that “well, people in those cities do have jobs, you know”, so Millennials were silly to worry about the hit to their careers.

Now you’re admitting that all the good jobs are in the big cities – mostly TO/Mtl/Van/Cgy, of which only the last of those 4 is really affordable when compared to average salary – and young people need to live there and show up at their big city office if they expect career advancement.

So should they stop whining and move to the sticks, as you’ve advised? Or should they NOT move to the sticks, stay in the big city, and somehow NOT push back (“whine”) when governments prop up the housing market to their generation’s detriment?

Move where you want and find work, if your goal is a house instead of a career. – Garth

#10 MF on 09.15.20 at 4:43 pm

3 Millennial 1%er on 09.15.20 at 4:31

Haha I love it.

That report is unique to JP Morgan and nothing else.

Tons of people are more productive at home.

MF

#11 Conjure Image on 09.15.20 at 4:45 pm

If WFH ever became mainstream, jobs will be outsourced.

Those in Canada who wants to work from home will have to compete against workers from other countries with lower wage due to cheaper standard of living.

#12 SoulSurvivor on 09.15.20 at 4:46 pm

#3 Millennial 1%er on 09.15.20 at 4:31 pm

Staying productive working remotely is possible. You just need to have a job that actually gives you work. Maybe the issue isn’t remote work, but rather that some jobs are 90% kissing ass?

———————————————————————————

Yes, “kissing ass” is a big part of work. All the more reason you need to go back today. Kinda hard to “kiss ass” remotely now, isn’t it?

#13 Captain Uppa on 09.15.20 at 4:52 pm

I am coming around to your opinion, Garth. So many people I know doing WFH are incredibly unproductive. However, I do see a significant portion of people doing WFH into the future; if they are unproductive, the gig company will find someone else.

#14 Steerage on 09.15.20 at 4:54 pm

Doug and Ryan… you listening!

#15 Drew on 09.15.20 at 4:55 pm

It feels like I’ve been working more since working from home.

Commuting has always been a stupid thing, Covid didn’t change that.

Garth, you’ve said many times that technology makes location matter less, have you changed your opinion?

#16 Ed on 09.15.20 at 4:55 pm

So I’ve been retired 11 years but am not yet a senior…do I get UBI?
I feel bad as I’m the only one I know that didn’t getr free money from JT.
Guess OToole gets 1 vote this coming election.

#17 Sunnyways on 09.15.20 at 4:56 pm

“Just imagine how great things would be if we had Ebola and locusts.”

This made me LOL. Yes just imagine how great everything would be.

Or even better imagine if COVID 19 was actually a deadly disease and statistically killing more people then no one?
Cases up across the planet and deaths flat as a pancake across the planet. Clearly this virus is doing what all viruses do- ensuring it can pro create. Deadly mutations die off (with the host), less deadly but more contagious mutations pro create onward. It’s called evolution.

With regard to Millenial Bro’s constant whining, I know many boomers and they all have told me more or less the same thing. They intend to appear as poor as possible in order to qualify for as much Trudeau Juice as possible. So sounds like they are fully on board for the future!

#18 Dolce Vita on 09.15.20 at 4:56 pm

#4 Millenial Surrealist

To be honest most us Paleo’s here are doing well according to Garth’s wealth census thingy he did a while back.

So Junior, knock yourself out.

Suspect I am not the ONLY BOOMER here that probably doesn’t give a rats ass about your soon to be, life altering, born again experience on Sep. 23rd

…from POLITICIANS NO LESS (My Liege, you excluded).

Hormones will do that to you. You poor trusting thing.

ONE day…

#19 Smartalox on 09.15.20 at 4:58 pm

It’s a bold experiment.

Maybe a downtown office setting is required for client calls and visits in the financial sector, but from what I have seen among my engineering colleagues, for example, is that setting up your 3D drafting workstation in a home office hasn’t diminished productivity.

My boss, for example, used to commute 3hrs (2x 1.5h) a day just to be in the office. And he supervised a staff of 10 to 20 people. Hasn’t been in the office since March, and all summer we’ve actually been busier. But he now gets 3hrs a day back – some of which gets invested in doing additional work, which offsets lost productivity – but still, makes a positive difference for him and his family.

Another former colleague worked for a Vancouver Based company as a European-market sales rep, requiring frequent travel. So he moved with his family from Vancouver to Halifax. Now, he’s halfway between destinations, enjoying the benefits of life in semi-rural NS.

The only reasons that I am still in my office are that:
1) my Van condo is too small for my wife and I to both work from home
2) I can self-isolate in my office at work
3) My work benefits from using multiple monitors that i don’t have at home.

I have calls with each of my direct reports (on alternating days) to catch up on open issues, and am available for guidance and problem solving via telephone or instant message.

I’m lucky: most of my work is intellectual now, instructing others and proofreading their work, and not so much hands-on, where I’d have to be in a lab or a workshop in order to contribute value to my organization.

I’m looking forward to being able to settle into a ‘groove’ on a project, and not have to break concentration just because it’s time to start my commute home.

#20 SoggyShorts on 09.15.20 at 5:01 pm

#97 Nonplused on 09.15.20 at 1:03 am
#73 SoggyShorts on 09.14.20 at 9:06 pm
#127 Ronaldo on 09.14.20 at 7:29 pm
#115 SoggyShorts

The thing is that in 1992 it wasn’t hard to find a job that paid more than minimum wage. In 1984 at the age of 16 I landed a job paying $10/hr in a lumber yard because I could a) swing a hammer (they were building out a new bay and lumber yard and the owner liked to stack stuff), b) cut customer requests straight and without burning on a table saw, c) tell fir from oak, and d) drive the forklift. I also learned many other tricks like how to roll arborite so it’ll fit in a trunk but I didn’t come into the job with those skills. Oh I also got to clean all the tar off the boss’s wife’s Porsche after she drove it through a construction zone. Oh well 10 bucks is 10 bucks.

********************************
Yeah I was a busboy and did not provide more than $5/h value to the restaurant.

Once I was an adult getting a job for $10/h was reasonably easy in 1999 too if you were willing to do more than wipe down a table.

Regarding cleaning the tar off that Porche, I recently had a days long internet argument with ~20 mills about doing tasks that don’t fit into your job description. I was pretty much all alone on the side of doing more to get raises/promotions. Everyone else said it had to be the other way around; that they would only do additional work if they first got a raise to do so.

Personally, I’ve always felt that an employee is paid for their time, and any task that isn’t significantly more demanding than their usual is on the table.

Doing only one specific task is what (sub)contractors are for.

Again, I was alone in that opinion with several on the other side who said they’d refuse to do the simplest of tasks(like a lunch run) if it wasn’t part of the duty set that they were hired for.

Admittedly my anecdotal sample size is too small to say, but perhaps the complaints about a “gig economy” are in part because of this attitude?

#21 Felix on 09.15.20 at 5:04 pm

“playing footsie with the cat ”

?

They are actually out walking their dogs, stealing working time from their employers and chatting about nonsense with other low IQ canine worshippers.

Cats actually make you much more productive at home.

#22 Linda on 09.15.20 at 5:07 pm

The JP Morgan findings aren’t a surprise. There will always be a segment of workers regardless of age who will be less than productive for whatever reason. In office or out, these are the much despised coworkers who lounge, lunch & cruise along, secure in the knowledge that their managers will dump the work they are not doing on the backs of their productive counterparts rather than do the job of actually making them perform. Documenting takes a lot of time/energy to do in order to be able to dismiss those who lounge. They count on this to protect them, doing just enough to ensure that they get a passing grade but nothing more. CERB is their idea of nirvana & UBI the holy grail, though they won’t be happy with UBI if it isn’t at least as much as CERB per month in perpetuity.

#23 just a dude on 09.15.20 at 5:08 pm

Garth, great post. Thank you.

Delusional is the only word that comes to mind when I read stories like the one you shared about the young couple in Hamilton.

How do people like this sleep at night? Have they no fear? Have they never experienced financial hardship/stress of any kind? What kind of a life is that with such a massive weight (debt, distance from work, so many unknowns about the future, etc) around the neck?

Where/when does the insanity end? I just don’t get it.

You and your colleagues offer the only source of daily sanity for me and many of us on here I’m sure. Thank you and your colleagues for that.

#24 Remote Eorker on 09.15.20 at 5:09 pm

Ive been a remote worker for over 8 years for a Fortune 100 company. Yes im still employed through this and its going perfectly fine. Good managers know who they can trust and who they can’t to have this privilege.

#25 The Woosh on 09.15.20 at 5:09 pm

Doesn’t sound like that was a real study that JP Morgan conducted. More like the execs who don’t know what to do with their time decided to provide a personal opinion without quantitative or qualitative details to back it up.

They might want to spend their time putting together real expectations from their employees and conducting a proper follow-up to see that work gets completed as it should. Oh, but that would mean those execs would actually have to do some work themselves. Heaven forbid that happened!! It works both ways.

#26 Steven Nicolle on 09.15.20 at 5:11 pm

Agree but I think most will want to return to office anyway. After a few more months of this and workloads become greater and time spent online outnumbers hours spent in office where everyone misses the water cooler chat the offices downtown will fill up again. The people who bought and overbid on houses are fools. If they plan on working from home better to work with online company or start their own. Love the song made me smile. Great.

#27 Toronto_CA on 09.15.20 at 5:12 pm

1) the threat of outsourcing has been with us for decades now. As stated numerous times, the problems of communication and time zone means that well paying white collar jobs will not dramatically fly to Bangalore and Manilla because of the pandemic. Many, many companies tried it, realized it’s not the panacea consultants assured them it was, and moved back. But lower wages for roles sourced in rural parts of Canada (Atlantic provinces! Moncton!) yes. That is possible and not a bad thing.

2) If enough people move to the far flung burbs, and are liked by their employers, it will become self-fulfililng prophecy that the office is no longer a 9-5 M-F place of work. This grand experiment has proven that a few days a week or even a few days a month of face time is all that is needed. Employers run by grumpy old men who think asses in seats is the only way forward will lose the best and brightest people to companies run with an eye on results rather than presenteeism.

3) Cases are rising here in the UK and Europe (distinct places I’m told). We’re in month 6 of lockdowns generally. A bad winter and another bout of national lockdowns (Isreal just did) mean we could be waiting until Spring for offices to open. Garth, you really think a full year of people working from home won’t make a permanent shift to a huge increase in home working?

Sorry, but I think you’ve got this wrong! Time will tell and it’s possible you’ll be right. Let’s revisit a year from now. My bet is WFH gets more days than WFOffice for most who are able to do both.

#28 Mr Canada on 09.15.20 at 5:13 pm

TTC/GO Train volume down 90% since March – have they laid off any of their employees? Likely not !!

#29 Rent the podium on 09.15.20 at 5:14 pm

Yahoo’s move to ban remote work for unproductivity in 2013 is probably a good example of what many companies will do once things settle down.

#30 Rainman on 09.15.20 at 5:14 pm

Just relax – it will all work out. :)

#31 Sandro on 09.15.20 at 5:16 pm

Ok Doug – I must call out your contradiction. You stated quite a few blogs ago (seems like a lifetime now) that NO ONE WILL EVER WANT TO WORK OR LIVE IN A TALL BUILDING DOWNTOWN AGAIN. What made you change course?

#32 Bilious Festeroni on 09.15.20 at 5:17 pm

Fair points re. career advancement is limited when you WFH. Face time does matter. However, it would be interesting to see the stats from industries where there are frequent hard deadlines and project time is tracked closely. For example, I have to track all of my time in 15-min increments, and my productivity has been quite high just as measured as a ratio of chargeable time to possible number of hours in a 40-hr work week (~90%) over the last 5 years of WFH full-time.

Granted, I have to travel for work, and that is more difficult being based remotely, but not impossible by any stretch.

#33 Trudeau’s Magic Money Machine on 09.15.20 at 5:21 pm

“We need to keep investing in Canadians to avoid moving from a recession to a depression.”

You hear that baby?!, oh yeah! He’s talking to me!

#34 CL on 09.15.20 at 5:21 pm

I sense you too, Garth, are shaking your head like many of the rest of us. Frustration over the idiocy of this economy in a pandemic.

The idiocy doesn’t end there. Vacancy rate on the rise and my landlord sent me a note they are raising my rent…..in CALGARY! insert laughter here.

#35 Dirty Dan on 09.15.20 at 5:26 pm

We don’t need industry or jobs in Canada and we definitely don’t need oil, mining or forestry. Yucky!

Trudeau can sit back and wait for the world to go woke on green idealism.

Then we sit back and lease all of our open land for carbon credits.

It will be nice to collect payments from China, India, Africa and the US while we sit around and watch forests grow.

#36 baloney Sandwitch on 09.15.20 at 5:28 pm

Just saw this after I read your post. — Facebook buys REI headquarters, showing office demand
https://www.thestar.com/business/2020/09/15/facebook-buys-rei-headquarters-showing-office-demand.html?li_source=LI&li_medium=thestar_business

#37 Leftover on 09.15.20 at 5:29 pm

To be successful WFH you have to meet with clients, wherever they may be. That is unless you are simply a drone and nobody notices you anyway.

Depending on what you do, those client meetings will result in work being required and usually some collaboration. A lot of that can be done remotely, but the final touch is usually done by smart people in the same room.

If you want to be one of those people you have to be in that room.

#38 TurnerNation on 09.15.20 at 5:32 pm

Timeline of US Debt history. It took off in 2000, then in 2008 and now. Greatest financial fleecing since 2008.
This is War-time spending levels gentlemen, WW3 is here and we are targets.
Don your masks, gloves and shields and do battle in the streets.

https://cdn.howmuch.net/articles/Timeline-of-the-US-Debt-History—2020-25T-879b.jpg


Distance yourself – this is why they rolled it out, pyschological effect:

https://en.wikipedia.org/wiki/Distancing
“Distancing is the appropriate selection of distance between oneself and a combatant throughout an encounter. ”

— Divided We Stand; United We Fall. Kanada the post-national UN open air camp.

#39 Sprawl on 09.15.20 at 5:36 pm

Saw the PBO guy on the news. Said 15% deficits, become quickly unsustainable long term. Added the PBO uses a Long Term timeline of 75 years! Sustainable is ending with Debt/GDP the same as the beginning. I’m hoping I have that wrong it’s kinda scary.

Hey Mr Canada, the 5:13 Lakeshore East Go Train from Union, is half its regular size and standing room only. During covid it’s unbelievable. Your right Metrolinx is dysfunctional.

#40 Attrition on 09.15.20 at 5:40 pm

Garth, probably the wisest and most impactful words you’ve written during this entire plan-d…sorry, scam-d…ah! sorry again!, pan (that’s it) pan-demic, are:

“All pandemics are temporary”

Sage words few seemed to grasp or act on. Instead, most folks seemed to think everything is forever, over and over and over.

House prices moving up? They’ll go up forever.
House prices moving down? They’re going down forever.
Working from home now? It’ll be forever.
Virus infections going up? They’ll go up forever.

Etc.

I’m not sure why events or trends are always seen to change fundamentals forever and ever, amen, when nothing ever changes, not really.

Viruses, gov’t overreach, this president or that, none of it is forever, it all comes and goes, why do people spend so much time and energy getting all worked up either way?

If more people listened, and invested like the whole virus thing is temporary (even the debt), there would be a lot of happy people.

I did, and am, and thank you for the reminder that all pandemics are indeed temporary.

#41 YouKnowWho on 09.15.20 at 5:42 pm

#150 robert james

I said it before many times, human beings have it backwards. Say it backwards. Harleys are a perfect example of that.

HARLEYS DON’T MAKE ANY SENSE!

The only good thing about it is that they are on the way down and hopefully out. No one thinks they are cool. Young people don’t want them anymore at all. And once you ride something else and jump onto a Harley you realize what trash those Harleys are.

#42 Millennial Realist on 09.15.20 at 5:43 pm

Hey Paleos – did you notice how Chrystia just called his bluff and kicked Trump’s ass today?

Just a taste of the bold leadership that is to come. (Harper would have kissed his butt and surrendered, in the Boomer-Con tradition)

And in a survey today, it is very clear what most Canadians want now:

“Majority say they may not vote Liberal if government does not announce changes”

https://www.broadbentinstitute.ca/canadians_want_to_see_bold_new_ideas?utm_campaign=sep15_covid_survey1&utm_medium=email&utm_source=Broadbent

“According to Canadians, the plan should include:

Help to build up Canada’s ability to produce key products like food and medical supplies domestically (74 per cent).

Investments to strengthen our health system including universal public pharmacare (70 per cent).

Focuses on helping people and doesn’t allow corporations to set the agenda and benefit the most from the recovery (67 per cent).

Increasing or creating new taxes on Canada’s richest people (60 per cent).

The survey found broad support for a new wealth tax on the wealthiest multi-millionaires and billionaires in Canada (76 per cent) and for a new tax on corporations who have made large profits during the pandemic (73 per cent).

Most Canadians think the economic and social well-being of youth, racialized Canadians, and women have been negatively impacted. In contrast, almost all Canadians (82 per cent) believe that the wealth of Canada’s richest people is better off or has not been impacted by the pandemic. ”

It’s gonna happen.

8 days until the first steps towards mega change.

Be part of the change, Boomers.

Or be run over by it.

#43 cuke and tomato picker on 09.15.20 at 5:45 pm

Congratulations to the postal workers of GRAND FORKS BC because they worked dispite the smoke.

#44 FreeBird on 09.15.20 at 5:47 pm

Locally one staff member testing positive for virus in a nursing home published in local media as an ‘outbreak’ and 3 new cases in the city as a ‘spike’ in cases. Our population is ~84K (2017). Interesting times we’re in.

Meanwhile RE is still going strong in the patch.

#45 TS on 09.15.20 at 5:48 pm

“If WFH ever became mainstream, jobs will be outsourced.

Those in Canada who wants to work from home will have to compete against workers from other countries with lower wage due to cheaper standard of living.”

Not if. WFH + office closures + low cost outsourcing are going to be powerful profitability levers for CEOs. Where I work spends $US 125 million per year on rent. Add on furniture, AC, heat, power, admin, cleaning, coffee, etc. New hires are almost exclusively India, Romania, Belarus and Malaysia. Google will sell you training equivalent to a 4 year comp sci degree for $59 per month. Have fun trying to compete against hundreds of thousands of these grads in low cost centers.

We are going to long for the days of commutes and cubicles.

#46 Mr Fundamental on 09.15.20 at 5:56 pm

Pandemics are temporary, but people are going to milk this one for as long as possible. Do you see employees going back to work in the office voluntarily? I don’t see it happening — they need to be highly incentivized to do so. Currently, they are highly incentivized to hang out in their jammies, and chill off of Justin.

MrF

#47 Blacksheep on 09.15.20 at 5:56 pm

YouKnowWho,

Wow…you sure know a lot about Harley’s, which models have you owned?

#48 Don Guillermo on 09.15.20 at 5:59 pm

#44 FreeBird on 09.15.20 at 5:47 pm
Locally one staff member testing positive for virus in a nursing home published in local media as an ‘outbreak’ and 3 new cases in the city as a ‘spike’ in cases. Our population is ~84K (2017). Interesting times we’re in.

Meanwhile RE is still going strong in the patch
******************************************

I hope Shirly Skirts doesn’t live in your town. Zie will have to scurry into Zir basement.

#49 Piano_Man87 on 09.15.20 at 6:00 pm

Our government and central bank are so good at helping us weather a recession, that Canadians have become conditioned to expect that there will be no impact.

We are so good at this that people just don’t care. It is another chapter in Freakonomics.

#50 Hawk on 09.15.20 at 6:07 pm

#42 Millennial Realist on 09.15.20 at 5:43 pm

Two things in the last 100 + years have moved upwards together in the same direction.

–The rich have become richer!
–Governments have become bigger and more powerful!

But that’s ok, because the 24,556 th time that wacko socialist ideas enacted by sleaze ball politicians fail miserably, shouldn’t discourage you from ………..trying just one more time!

Go for it!

ROTFLMAO – Let’s see how in turns out in 24 months from now!

#51 Freedom First on 09.15.20 at 6:10 pm

#24 Remote Eorker

Great post! I could have not said it better myself.

Freedom First

#52 Don Guillermo on 09.15.20 at 6:13 pm

#17 Sunnyways on 09.15.20 at 4:56 pm
“Just imagine how great things would be if we had Ebola and locusts.”

This made me LOL. Yes just imagine how great everything would be.

Or even better imagine if COVID 19 was actually a deadly disease and statistically killing more people then no one?
Cases up across the planet and deaths flat as a pancake across the planet. Clearly this virus is doing what all viruses do- ensuring it can pro create. Deadly mutations die off (with the host), less deadly but more contagious mutations pro create onward. It’s called evolution.

With regard to Millenial Bro’s constant whining, I know many boomers and they all have told me more or less the same thing. They intend to appear as poor as possible in order to qualify for as much Trudeau Juice as possible. So sounds like they are fully on board for the future!
*****************************************

Great post Sunnyways!

I especially love the term “Trudeau Juice. Mind if I morph into Justin Juice?

Cheers

#53 crossbordershopper on 09.15.20 at 6:16 pm

OMG , people moving to north end of Hamilton, man the stories i can tell you driving down Barton street trying to avoid agresive daytime hookers(trust me there different than the nighttime ones). literly walking on the road hailing people down.
or the usual drug dealers at the corner, you know the ones that just waiting for a ride, every day, all day, waiting for a ride.
Obiviously people from Toronto have never spent time in downtown Hamilton, (go to the old copps collisium, you would think your on Hastings in downtown Vancouver) with the tents next to tents next to tents. it truely smells, not just for the people travelling over the skybridge as you see the 24/7 smokestacks spewing toxins, its everywhere, in the buildings on the people everywhere over 100 years of it adds up.
those 100 year old homes with no frontage, no backyard, row housing no garage, no life. and uninformed kids bidding over each other to be in debt that much for these shacks. Trust me, dont look behind the drywall you will be shocked.

#54 P.Ooched on 09.15.20 at 6:18 pm

#29 Rent the podium on 09.15.20 at 5:14 pm

|| Yahoo’s move to ban remote work for unproductivity in 2013 is probably a good example of what many companies will do once things settle down.

If your looking for good examples of what companies in the tech industry may do with regards to the future of remote work – Yahoo in 2020 is probably not the company that anyone is looking to as a leadership example.
( they were pretty cool, back in the day tho )

Given that Facebook, Google, Twitter, Shopify, Coinbase, and many more companies are announcing long term plans to allow for vastly more remote positions, this sector looks to be looking at a significant increase in WFH going forward.

#55 Fragrant Cookie on 09.15.20 at 6:19 pm

WFH is temporary. Pandemics are temporary. Ultra low interest rates are, you guessed it, temporary. Going to refinance mortgage to a sub 2% rate, up the bi-weekly payments (more going to the principal), lock it in for 5+ years and be done with the debt by the time rates skyrocket.

#56 Habitt on 09.15.20 at 6:22 pm

Really Garth. One size fits all and employee theft is on the rise? And so it is LOL My wife works from home and will likely be extended partly cause she fu….. works. As you know there are accurate ways to monitor people. Just because your office tower owner buddies want it back won’t make it so.You sir have lost your way. only money matters eh? A truly sad day. Delete

#57 yorkville renter on 09.15.20 at 6:22 pm

to be fair, commutimg (more than 30 minutes) is for idiots

#58 Old Ron the Realtor on 09.15.20 at 6:25 pm

Is the great Toronto Condo market finally cracking ?

Folks in the office think so.

Today there were 11,966 Condos for rent on TRREB. That doesn’t count the numerous other rental platforms, just the realtors Board. The usual suspects, no Airbnb, COVID, economic fears, and the flight to greener pastures

Further there are 8,296 resale Condos for sale. That figure is growing about 300 a day. That doesn’t count the thousands of new builds hitting the market. One of our reps thought she had a hot listing two weeks ago, since then 5 more units hit the market in the building each Much less than the previous unit.

Do not BTFD (buy the f-ing dip) this baby has a ways to fall, imho. This time the interest rates cannot ride to the rescue, because they can not go lower.

Leaving me to ask : what exactly is 600 sq ft of broadloom in the sky worth? Answer about $ 1,200 plus under-pad.

#59 Two-thirds on 09.15.20 at 6:25 pm

True, but the market can stay irrational longer than most of us can remain solvent (and sane…)

And as Canada moves boldly into “Socialism with Kanadian characteristics” with no opposition to speak of, those who are solvent and rational will become the target of the majority.

So, is the rational choice to go insane, when one finds itself deeply outnumbered in the asylum?

Too may voters wanting it all no matter what it takes or does to them and their descendants… The opposition has ZERO chance of winning, they are now stuck in a catch-22, and so is the rest of the country.

Pooched. 100%.

#60 Garth's Son Drake on 09.15.20 at 6:29 pm

Garth, you have it wrong.

Remote is here to stay. Most working remote are more productive and less infectious. JPM already has an outbreak of the staff they mandated back.

How is seeing a boss in person different from Zoom aside from catching COVID when talking to your germy boss in person?

#61 Headhunter on 09.15.20 at 6:34 pm

what an awesome summer weather was fab! Just back reading a few posts and catching up.

Basically at this point just enjoy your life is my advice. The future is so uncertain. Lockdown proved many things

1. there is no free market. Trillions been added to balance sheets worldwide. Click of a button. Record stock market in a pandemic, draw your own conclusions
2. Gov’t picks winners and losers (duh) Jimmy carpet and tile had to stay shut. Lowes/Home depot made a killing.
3. Housing in the big centres is deemed too big to fail. Japan 2.0. is here.
4. Negative interest rates are already here.. so dont pay to save.

Carlsberg Tall cans are the best deal for import IMHO less than $2.50/can. Stay safe!

#62 James on 09.15.20 at 6:34 pm

Re the chart: Did we really expect a part time Drama Teacher to excel at math? Some forgiveness granted for the exceptional times we find ourselves in. Maybe making better use of the good times would be be prudent going forward. Reserve deficit spending for when we truly need it! Government policy should foster and encourage things that make our Nation resilient.

#63 YouKnowWho on 09.15.20 at 6:44 pm

Kids aren’t allowed to sign the national anthem in school in the morning!

In Music, they are told they can’t sing! They were given RAP! A song called Rap Rules and the song is about what they can and can’t do – you know, keep your distance, keep you hands to yourself, masks, etc.

Honestly, this is crazy. Children can’t sing. What is happening?!

#47 Blacksheep

I’ve ridden two. V-Rod – because it was the only one worthy of even being looked at with something resembling modern tech, but even that was 200lbs heavier than class of bikes I am used to riding. Do you have any idea what 200lbs means on a bike? Day and night! That was an official test ride at a dealer so I let that bike have it too. And I went for a quick spin on a Road Glide once as well.

I would never buy a Harley! There are so many incredible bikes on the planet from small nimble 250cc fun machines all the way to bikes that will get you thrown in jail on first ride.

I will tell you a few things about my decade of riding – I’m glad I’m in 1 piece. I’m lucky I never went down. The summer is so short drivers aren’t used to motorbikes on the road. An acquaintance went down and slid under his bike for surely close to 100m, which pressed his shoulder into the ground, basically sanded off his shoulder so far that it required his arm to be amputated. After he lost his arm, his lady left him, he lost his job, fell into depression. Brutal. Bikes – fun eh?

You think you want to ride? I have this advice for you.
1. Do the weekend course at Humber or something like that. Don’t you dare ride without it. It will save your life.

2. If you want to really ride fast, the roads are no place for it. Get your butt over to Mosport or some other track and get it out of your system in a safe environment for the fun you want to have. And since most people will absolutely not do this, we’ll continue to pick up pieces of bikes and bodies each and every riding season as long as time lasts.

Finally listen to Jeremy as he does is Top Gear anti-motorcycle PSA.

https://www.youtube.com/watch?v=6v4YNkurhLk

Get a fun car instead of a bike. A fun convertible lets feel fresh air as you look at your lady’s legs next to you, instead of everyone else BUT YOU getting a look at her back side.

#64 akashic record on 09.15.20 at 6:48 pm

Back to the cage, before the widespread recognition of the corporate plantation slavery.

#65 MF on 09.15.20 at 6:48 pm

11 Conjure Image on 09.15.20 at 4:45 pm

Lol is it 1991 or something? Are you listening to Mc hammer on your Walkman and doing the running man?

Outsourcing is nothing new. Just look at the 2016 election down south to see its effects. Neither is working from home anything new.

What has changed is the technology and the circumstance. The circumstance (pandemic) may revert somewhat to normal in time, but the technology will only improve.

We are already seeing companies re-shoring jobs back after realizing the quality over seas ain’t up to snuff.

Work culture will adapt, like it always does. Like I’ve said a few times on here, at some point in the not so distant past having women in the office was unheard of.

MF

#66 truefacts on 09.15.20 at 6:50 pm

Guys,

You don’t understand Millenial Realist until you see this:

https://www.youtube.com/watch?v=hLpE1Pa8vvI

Now you understand…

#67 Tactless Capital on 09.15.20 at 6:50 pm

Indeed the budget will balance itself, ater the savers have all been taxed to oblivion. Moral hazard. No point to saving and being responsible if the Government bails you out. Where’s the smart money these days?

#68 crowdedelevatorfartz on 09.15.20 at 6:55 pm

@#20 Soggyshorts
“Again, I was alone in that opinion with several on the other side who said they’d refuse to do the simplest of tasks(like a lunch run) if it wasn’t part of the duty set that they were hired for.”

++++

All the guys that work for me are unionized.
Most do only what is required, bitch and moan about everything… While some ALWAYS go above and beyond their job descriptions.

If the company does well in a fiscal year we divvy out aprox 10% of the year end profits to the staff as bonuses.
The lazy DF’ers get minimal …say $1500 annual bonus.
The hard workers get up to a $10,000 annual bonus.
Fair is fair.

#69 Shirl Clarts on 09.15.20 at 6:56 pm

Fozzie Bear LIVES!! Someone, put a little hat on that dog!!

#70 Cici on 09.15.20 at 6:56 pm

#3 Millennial 1%er on 09.15.20 at

That’s actually a very good point and very true in many places of employment.

But I still agree with Garth; it probably won’t last much longer than the tangible threat of the virus, because most (not all) humans aren’t capable of effectively pulling it off.

That’s because most real humans need to socialize with other real humans, otherwise they get bored and want to jump off bridges.

Only a minority of old-school hermits like myself along with a bunch of new-school robot-like millenials who grew up in bubbled fantasy and videogaming worlds are actually capable of working better in a WFH environment. But even sociopaths like us need to get out and mingle from time to time ;-)

#71 Do we have all the facts on 09.15.20 at 6:56 pm

I would be interested to know what the Government of Canada is projecting for revenues and expenditures in 2020/21 and 2021/22 and how they plan to cover the substantial increase in debt servicing costs.

In 1990/91 Canada was mired in a recession our government viewed as temporary and was caught by surprise when unemployment rates stayed above 8.0% until 1995/96.

As a result of high unemployment and slow economic growth Government of Canada revenues remained fixed at $120 billion/year for five years while over $40 billion per year was required to service government debts. It became very clear that drastic measures were required to
reverse the rapid escalation of government debt and related debt servicing costs.

From 1995/96 through 2008/09 the Government of Canada collected a total of $2.6 trillion in revenues and reduced total operating expenditures to $2.0 trillion. The total operating surpluses of $600 billion over 14 years was offset by $545 billion in debt servicing costs leaving a net surplus of $55 billion to reduce the amount of total government debt.

All I am hearing from the Government of Canada these days is that additional debt will be covered by increased revenues as the economy recovers. This wasn’t true in the early 1990’s and there is a good chance it might not happen in the early 2020’s.

The debt service alone on $1 trillion of debt will exceed $30 billion per year and it sure doesn’t look like Justin has any plans for operating surpluses in the near future. We may be looking at a $40 or $50 billion deficit in 2021/22 even with strong economic growth.

Isn’t it time for a reality check?

#72 Anonymous on 09.15.20 at 6:58 pm

This young couple will vote for whichever party will give them a UBI and will happily pay down their mortgage with the handout. No commuting needed.
The government indicated help is needed, the liberal caucus is pushing UBI up as a top priority. People realized it is nice to just sit home and have money appear on your bank account.
The future is too abstract. Give me the money now, we’ll worry about later later.

#73 crowdedelevatorfartz on 09.15.20 at 7:00 pm

@#57 Yorkville
“to be fair, commuting (more than 30 minutes) is for idiots”

+++
I cant argue there.
I have one employee that commutes 90 miles EACH WAY every day for the last 7 YEARS ($6500/year on fuel alone, burned out two engines, countless tires, 470,000 kms on his car) …….. and….he…..rents………

#74 The Woosh on 09.15.20 at 7:05 pm

#37 Leftover on 09.15.20 at 5:29 pm
To be successful WFH you have to meet with clients, wherever they may be. That is unless you are simply a drone and nobody notices you anyway.

Depending on what you do, those client meetings will result in work being required and usually some collaboration. A lot of that can be done remotely, but the final touch is usually done by smart people in the same room.

If you want to be one of those people you have to be in that room.

———————————————

Hmmm…I agree that it’s always the “one smart” person in the room that brings it all together for the rest of the dumb dumbs in the room. You’re really missing that smart person. They probably saved your bacon countless times before, right?

#75 crowdedelevatorfartz on 09.15.20 at 7:05 pm

Millenial Dreamer
“8 days until the first steps towards mega change.”

++++
Mega Change
Is that what we’re calling punitive taxation these days?

When the stork handed out Naivete in the Natal ward you got two scoops didnt ya you greedy little work shirker…

#76 YouKnowWho on 09.15.20 at 7:07 pm

Look at this little tidbit of info I found. No wonder the little bug is having rush a field day with the compromised human masses.

>
According to the CDC, nearly half of American adults have underlying medical conditions that could put them at risk for a more severe case of COVID-19.

The study of adults in over 3,000 counties, found 47% had at least one of the five conditions: COPD, heart disease, chronic kidney disease, diabetes and obesity.

#77 Doug t on 09.15.20 at 7:08 pm

That dog in the pic could pass for Sasquatch

#78 Drinking on 09.15.20 at 7:10 pm

Let us just get through this winter. That nasty virus is making a huge come back already; November/December will be brutal, stay safe, keep cash handy and be smart!

#79 Reximus on 09.15.20 at 7:12 pm

“the near-empty QEW”….ya I dont think so, that horrible highway is just as horrible these days, Covid be damned!

#80 Nonplused on 09.15.20 at 7:12 pm

“Yes, the future’s an abstraction. Forget it. Now is what counts, baby. Sha-la-la-la-la-la, live for today.”

A stunning number of people can live no other way. But on the other hand I am not sure it makes much difference because Dog all too often lays waste to “the best laid plans of mice and men”. It’s probably better to have a “system” than a “plan”, because nobody has any idea what tomorrow holds for them. “Though they build houses, they will not live in them; though they plant vineyards, they will not drink the wine.””

For example maybe WFH will go away and people will return to the office, or maybe companies will decide that they didn’t really need that many employees after all and just lay everyone off via zoom. The common thinking in the business schools these days is that 65% of the people in the office aren’t really contributing to the bottom line anyway, so now that covid has identified who they are maybe they will just get rid of them. It probably doesn’t matter whether you live in Hamilton or Toronto when that zoom call comes in. You’re screwed either way.

Bureaucracies tend to bloat for a number of reasons whether they are government or large companies. No manager ever figures they need less employees until the hammer comes down. So eventually they end up with whole departments producing reports nobody really needs or reads. When times are good this is a good thing, people have jobs whether they are producing something worth the money or not, so it’s a sort of wealth distribution. But when the weight comes down they are shown the door.

For example, when Encana announced some years back (2014 I think) that they were going to cut 70% of the workforce, one might have wondered “How is that even possible?” Well, it took several reorganizations but they did it. Of course they could have fired Doug and saved 125 jobs right there but that is not how such things work. He got $10 million a year specifically to get rid of thousands of jobs.

I worked for a US company for a while that also got into some financial trouble, and they also announced plans for a 70% reduction in non-operational staff. That was awkward. I would say my coworkers tolerated the Canadian guy while times were ok, but once the announcement was made they became increasingly uncomfortable with my presence.

70% overstaffed seems to be the new theory. Mind you these are the same people that came up with “just in time” inventory and 90 day holdback periods for vendors as a method of cash management. These policies resulted in a new reason their plants couldn’t run when they should: “Lack of fuel”. And I don’t think the 90 day holdbacks did anything much. If you are buying fairly consistently from a vendor the same amount of money goes out the door every month, so you are really only withholding 90 days worth of cash.

So anyway some people will return to the office. Some will continue to work from home. And some won’t be returning to work at all. These changes are permanent.

#81 Ejy on 09.15.20 at 7:14 pm

Add Nanaimo to the list of FOMO, escape Vancouver, wfh locations.

#82 The Woosh on 09.15.20 at 7:17 pm

#56 Habitt on 09.15.20 at 6:22 pm
Really Garth. One size fits all and employee theft is on the rise? And so it is LOL My wife works from home and will likely be extended partly cause she fu….. works. As you know there are accurate ways to monitor people. Just because your office tower owner buddies want it back won’t make it so.You sir have lost your way. only money matters eh? A truly sad day. Delete

—————————————————

Wowzers!!!

#83 Nonplused on 09.15.20 at 7:24 pm

#5 YouKnowWho on 09.15.20 at 4:34 pm

“But really, I want it so that all these slave driving “disrupting” companies that are exploiting human beings have to fess up and pay them a wage that is competitive to get them off the UBI.”

How is giving someone a job exploitive? If you don’t want the job don’t take it, or quit.

#84 Jack is Back on 09.15.20 at 7:27 pm

The Ontario McGuinty Wynne Liberals did the same thing for 15 years, social programs to children to daycare to green energy act, greenbelt, many others socialist programs with wasteful health spending, LHIN’s etc. Their electricity solar, green energy failure, costing an extra $38 billion for all Ontario residents in just 8 years plus closing natural gas plants $1.2 billion.

How did it work out for Ontario residents and low income people. It didn’t, high debt, high taxes, high regulations and job losses in the 400,000+ range. It will end up for the Trudeau, Freeland Federal Liberals a big failure and poor, lower, middle class Canadians even poorer and less middle class.

Millenial Surrealist, Millenial Realist get ready to be poorer and more of a loser in coming years bud.

#85 Tbone on 09.15.20 at 7:29 pm

A funeral director referred to motorcycle riders as organ donors . Funny guy he was .
Be careful out there .

#86 Ronaldo on 09.15.20 at 7:30 pm

So here’s a big surprise. Not.

US financial giant JP Morgan has discovered younger employees who WFH are less productive, inefficient and more untrustworthy. What a shock that people in their jammy bottoms, watching TikTok on their phones and playing footsie with the cat while they Zoom a client were not fully engaged? Who knew?
—————————————————————-
Even better than CERB. Do half the work for twice the pay. And they probably would book off sick to boot.
lololol Sorry Millies, not going to get away that easy.

#87 Nonplused on 09.15.20 at 7:32 pm

#11 Conjure Image on 09.15.20 at 4:45 pm
If WFH ever became mainstream, jobs will be outsourced.

Those in Canada who wants to work from home will have to compete against workers from other countries with lower wage due to cheaper standard of living.

———————————

Three problems with that thinking. First, who says these other countries are teaming with people with the right skill set and education? Second, work from home is already saving money. Third, why wouldn’t Canadians move to these countries with a “cheaper standard of living”? Retirees do it all the time.

If the job is going to be outsourced, that will happen regardless of WFH or WFW.

#88 Cici on 09.15.20 at 7:32 pm

All UBI is really going to do is artificially boost inflation, making life even more unaffordable than it already is for both the poor and the working poor alike.

#89 Catalyst on 09.15.20 at 7:32 pm

Totally unbiased source – the banks want people back because they spend billions on rent and are locked into 5-20 year leases plain and simple.

#90 Dan Manning on 09.15.20 at 7:39 pm

CiCi, I hear you. UBI is Universal Basic Inflation. People want to learn the hard way and get poorer everyday under the Trudeau socialist Lieberals.

#91 Reximus on 09.15.20 at 7:41 pm

Life as a UBI recipient will suck, wont last long and most of them dont vote anyway

#92 Reximus on 09.15.20 at 7:43 pm

The real problem with the UBI programs today in Scandinavian countries is the underground economy it has fostered

#93 Curious One on 09.15.20 at 7:46 pm

#25 The Woosh,

So, I take it you’ve worked closely with the “execs” at JP Morgan, or any large financial institution for that matter. You speak with such authority when describing their inability to manage their time, or even understand the fundamentals of qualitative or quantitative reasoning. Well, I’ve worked with the ‘execs’ of most financial institutions for decades, and I can tell you they have no life outside their careers because the responsibilities are so consuming.

But I’m sure you are better equipped to take on that role and be much more successful.

#94 Lana Stuart on 09.15.20 at 7:46 pm

Anonymous, they can’t hide from time and math. It is the 2 things that will catch up with them. The young will pay for it much more as they have both time and math that is against them.

They will destroy their own generation and are they are their worse enemies and they are too stupid or don’t want to believe it. There is no socialist paradise, utopia only reality and it always bites. Good luck youngsters and old naive socialists.

Hunger pains are in your future, be very careful what you are doing. You have been warned.

#95 uncle dave on 09.15.20 at 7:48 pm

So will there be a 20% drop in house prices once the fallout from CERB hits the fan or will the madness march on?

#96 Nonplused on 09.15.20 at 7:50 pm

#20 SoggyShorts on 09.15.20 at 5:01 pm

“Regarding cleaning the tar off that Porsche, I recently had a days long internet argument with ~20 mills about doing tasks that don’t fit into your job description.”

Back in 1984 I did not have a job description. I had a boss, and he personally owned the franchise. If I’d have started that job description crap with him he would have fired me on the spot.

The original job posting said I would be building racks for mouldings and specialty plywood, which is what I did until that job was completed. But when they were busy they would ask me to help out with loading customers and unloading trucks. Eventually I became a handy kid to have around and I got to do vacation coverage too (I was a student and needed the money, so when I was available closely aligned with when they were short staff). I was employed probably 3 times longer than I otherwise would have been because $10 bucks is $10 bucks to me. And for a student at the time $10 bucks was nothing to sneer at. Even if you have to clear the boss’s wife’s Porsche. I got to drive it too, so that was a bit of a bonus for a poor kid from Bowness.

Bosses are weird. I also worked part time in the evenings for a guy who ran a lighting store. One time he sent me off to the hardware store for supplies in his Jag. What the hell, $10 bucks is $10 bucks so off I went. Wasn’t in the job description. My job description for him was also “do what I or the ladies tell you to”.

#97 Shirl Clarts on 09.15.20 at 7:52 pm

Everyone on this blog, both proponents and opponents, assume that UBI (if introduced) will be a full replacement of salary to their existing jobs.

At best, it would likely be a very small amount. A pittance. Similar to a participation trophy (value wise) – maybe instead, call it stimulus money.

Note to self: invest in WEED

So why on earth would anyone, a Millennial or otherwise, hope to receive and live on UBI?

Anyways, if they go ahead with this stupid idea, I predict they will simply make GIS available to everyone, weighted by age. i.e. The younger you are, the less you get. Easy. Then, they call an election.

O’toole has work to do.

#98 Greg Franklin on 09.15.20 at 7:55 pm

I don’t know if this is true but I am hearing from my cousin that works in the Canadian government, can’t say his department, is hinting at a 10% penalty, tax call it whatever you want on TFSA withdrawals similar to IRA’s in the US.

In the US, if you are under 59.5 years old, there is a 10% penalty when you withdraw it. There are some other ways around it but it gets more complicated and only can be used in certain situations.

#99 50 YEARS OF MAPLE LEAF INCOMPETENCE! on 09.15.20 at 7:58 pm

Garth is right, come on back to Toronthole!

Just buy life insurance and after you get shot your family will be rich!

WINNING!! *

(*except of course for the Make Believes, Arghh-hoes and Raptors)

#100 Drinking on 09.15.20 at 7:59 pm

#88 Cici

Very true! But at the same time we could be one of the richest nations on earth! We have what most countries need; we have the technological knowhow, great educated folks but yet a government that does everything to lower our IQ’s to there standard! It is shameful, but I think times are changing!

I will repeat myself, stay safe folks and put a few extra dollars away for this upcoming flu/cold/covid season; it is going to be a bad one!

#101 Kevin BC on 09.15.20 at 8:14 pm

I agree with most of your views, Garth, except this one. I believe the future of work is mobile/hybrid. The office will evolve, more as an events/group meetings space. I see people going to the office 3~ times a week instead of 5 as technology allows major flexibility.

“As this paleo blog has stated a few times, this is not the future. Remote working will not replace the office. Those downtown towers will not stand empty. Employers want to see you, and anyone with a career aspiration should want to see the boss. The workplace is where innovation, collaboration, mentorship, experience and social interaction happen. When human nature chances, so will the nature of work. That’s not now. WFH is doomed. At least on a large-scale basis. That means about three million people still without good hygiene will eventually be heading back.”

#102 joblo on 09.15.20 at 8:15 pm

Cannot wait to get back in office for a little Benchmarking and Circularity only to take a Deep Dive into the Flashpoints so we can get to Implementation mode with our Influencers.

Face to face Interplay, Linkage, Multifaceted Metrics, KPI’s and Takeaways will allow for our System Leaders to further develop relationships though deep listening and build on our networks of trust and collaboration.

Gonna be AWESOME!

#103 april on 09.15.20 at 8:16 pm

Ross Kay Realty Advisors.”The magnitude of the false, misleading and deceptive press releases is really amazing to see on Google @AdStandardsCan”

#104 Ronaldo on 09.15.20 at 8:16 pm

#42 Millennial Realist on 09.15.20 at 5:43 pm
Hey Paleos – did you notice how Chrystia just called his bluff and kicked Trump’s ass today?
——————————————————————
Now that was funny. Wait a bit and see what is going to happen with our lumber exports now. Talk is cheap. The U.S. will respond and it will cost us all. It’s like a cat and a mouse playing a game. Guess who is going to win.

#105 Nonplused on 09.15.20 at 8:17 pm

#41 YouKnowWho on 09.15.20 at 5:42 pm
#150 robert james

I said it before many times, human beings have it backwards. Say it backwards. Harleys are a perfect example of that.

HARLEYS DON’T MAKE ANY SENSE!

The only good thing about it is that they are on the way down and hopefully out. No one thinks they are cool. Young people don’t want them anymore at all. And once you ride something else and jump onto a Harley you realize what trash those Harleys are.

———————————-

Sigh. Some people just don’t understand the difference between art, culture, and function. 460,000 attendees at Sturgis this year would disagree with you my friend.

That said Harley’s aren’t my thing. But if they were priced closer to the comparable metric bikes they would be.

Harley doesn’t sell motorcycles. They sell a lifestyle and culture.

You do raise an interesting point that Harley doesn’t really appeal to the young and broke. I don’t know that they ever did. They tried the Sportster, which was moderately successful for many years, and of course the V-Rod. And supposedly they are coming out with a new adventure bike now that the metrics are going V-twin on those and Harley is saying “hey… that is what we do.” But I think for the most part they are comfortable being the bike “made” people ride, sort of like Jaguar or Porsche.

The sort of bike you ride very much depends on your age, as do so many things in life. When you are a kid you ride a dirt bike. When you get a little older you ride a dual sport because that is what you can afford and it will get you to work. When you finally get financing you buy a crotch rocket. After that kills you once or twice and you have about a thousand speeding tickets, you choose between a V-Star and a Harley based on what you can afford and how cool you want to be. But note: The V-Star looks a lot like a Fat Boy. No coincidence there. Even the specs are almost identical.

#106 Habitt on 09.15.20 at 8:22 pm

#82 The Woosh the truth sucks eh. Best wishes to you.

#107 Silent the people on 09.15.20 at 8:25 pm

Garth, great post! I worry we have
created so much debt that taxation
will be ridiculous! We have created
a monster that no one truly knows
where this will lead! The drama teacher
will be long gone and living the life of
Riley! This will not end well…..

#108 Abolitionist on 09.15.20 at 8:25 pm

Garth, your thoughts on these changes?

Is it foreshadowing a UBI to discourage “essential” pensioned workers from resigning and cashing out, or simply a matter of interest rate calculations?

-OSFI announced that its temporary portability freeze due to COVID-19 was lifted as of August 31st, 2020;

-Canadian Institute of Actuaries (CIA) will be implementing changes to the interest rate and retirement age assumptions used to calculate the commuted value … Once these changes are implemented on December 1, 2020, it will cause the commuted value of a pension plan to be lower.

#109 Doug t on 09.15.20 at 8:31 pm

So you have to wonder what Canada will look like in 5 years ? 10 years? Will Alberta recover its former glory days – Or be in the dustbin? Will Ontario get it’s sh*t together and once again be the engine that powers the nation? Or will we slowly slide into a numb state of lost possibilities and lack of innovation? We will find out – but it’s not looking good

#110 meslippery on 09.15.20 at 8:34 pm

younger employees who WFH are less productive, inefficient and more untrustworthy

————–
Than what? younger workers who work on site?
Its all about work ethic and pay.
Most do not want to loose a good well paying job.
So if you have a good job that pays well you will find a good candidate either WFH or on site.

#111 John in Mtl on 09.15.20 at 8:35 pm

By the way did you catch this comment yesterday from federal Treasury Board President Jean-Yves Duclos? The Libs have no choice now, he said, when it comes to further opening the spending spigot: “We need to keep investing in Canadians to avoid moving from a recession to a depression.” – Garth

Its easy to se which hand feeds Duclos! Where will all that new money come from? The Big Five certainly aren’t on board to finance this new spending (Bloomberg via Yahoo):

https://ca.finance.yahoo.com/news/bank-chiefs-said-warn-trudeau-153547558.html

I bet the fed gov’t knows exactly how much of a mess this country is in (and they aren’t telling us); UBI is just a means of keeping social cohesion and crime to a manageable level for the foreseeable future.

#112 Gramps on 09.15.20 at 8:44 pm

Interesting.
Plug T1 into that deficit chart (‘68 to ‘84)

#113 Ponzius Pilatus on 09.15.20 at 8:47 pm

#93 crowdedelevatorfartz on 09.14.20 at 10:44 pm
@#85 Ponzie preamble
“Schools and daycares are closing again because of the smoke?
Freeland should send the bills to Trump.”

++++

Ahahahaha.
Yeah right.
Good luck with that.
I believe Chrystia’s “Trade agreement” lasted about as long as it took the Americans to slap us with Aluminum sanctions……

But the Trudeau govt is going to huff and puff their indignation tomorrow
—————
Not so fast CEF, not so fast.
Watch the news.
The Americans just blinked.

#114 Chester in Summer on 09.15.20 at 8:49 pm

Unproductive is reading the jibberish in these comment sections.

#115 Reality is stark on 09.15.20 at 8:57 pm

Hamilton was always the best kept secret in Southern Ontario. The topography slays Toronto hands down with both the lakefront and the escarpment. Yes there is the industrial east end.
The western part of the city is very nice.
Double brick Victorian and Edwardian homes that people want despite the renovation costs.
The downtown is undergoing a renaissance. People like the positive energy that comes from that. It is not a suburban type downtown like Oakville or Burlington, many people like a true city vibe.
New restaurants popping up everywhere. Lake Ontario waterfront park redevelopment is continuing with a pedestrian focus.
It really is no surprise to folks “in the know” that Hamilton was seriously undervalued.
Not so much anymore.
Great golf courses nearby.

#116 IHCTD9 on 09.15.20 at 9:02 pm

#20 SoggyShorts on 09.15.20 at 5:01 pm
#97 Nonplused on 09.15.20 at 1:03 am
#73 SoggyShorts on 09.14.20 at 9:06 pm
#127 Ronaldo on 09.14.20 at 7:29 pm
#115 SoggyShorts

The thing is that in 1992 it wasn’t hard to find a job that paid more than minimum wage. In 1984 at the age of 16 I landed a job paying $10/hr in a lumber yard because I could a) swing a hammer (they were building out a new bay and lumber yard and the owner liked to stack stuff), b) cut customer requests straight and without burning on a table saw, c) tell fir from oak, and d) drive the forklift. I also learned many other tricks like how to roll arborite so it’ll fit in a trunk but I didn’t come into the job with those skills. Oh I also got to clean all the tar off the boss’s wife’s Porsche after she drove it through a construction zone. Oh well 10 bucks is 10 bucks.

********************************
Yeah I was a busboy and did not provide more than $5/h value to the restaurant.

Once I was an adult getting a job for $10/h was reasonably easy in 1999 too if you were willing to do more than wipe down a table.

Regarding cleaning the tar off that Porche, I recently had a days long internet argument with ~20 mills about doing tasks that don’t fit into your job description. I was pretty much all alone on the side of doing more to get raises/promotions. Everyone else said it had to be the other way around; that they would only do additional work if they first got a raise to do so.

Personally, I’ve always felt that an employee is paid for their time, and any task that isn’t significantly more demanding than their usual is on the table.

Doing only one specific task is what (sub)contractors are for.

Again, I was alone in that opinion with several on the other side who said they’d refuse to do the simplest of tasks(like a lunch run) if it wasn’t part of the duty set that they were hired for.

Admittedly my anecdotal sample size is too small to say, but perhaps the complaints about a “gig economy” are in part because of this attitude?
— –

Sounds like a bunch of union guys. I did the opposite like you did, never said no, took on more tasks. Who cares? I was young, paid by the hour, and got OT after 40. Pretty soon I was the only guy in the office that knew how to do said tasks. After 10 years, I was pretty much un-fireable and my wage had gone up over 100%. (I started low too).

We went through a period where a rival company was stealing our staff. One day the president stepped in my office and closed the door. He confirmed my salary, then gave me an absolute whopper of a raise, he said I was doing a great job, shook my hand and left. I’ll never see anything like that again, I guess he did not want me to leave (and I didn’t).

I was the last guy out the door when the place went bust.

#117 crowdedelevatorfartz on 09.15.20 at 9:03 pm

@#80 Nonplused
“Bureaucracies tend to bloat for a number of reasons whether they are government or large companies. No manager ever figures they need less employees until the hammer comes down. So eventually they end up with whole departments producing reports nobody really needs or reads.”

++++

First they came for the Human Resources Dept …and I said nothing.
Then they came for the Safety Dept … and I said nothing.
Next they came for the Environment Dept. and I said nothing.
Last they came for me and I said ,
” I’m the last taxpayer. Who will pay for UBI?”

#118 TurnerNation on 09.15.20 at 9:05 pm

From where will the money for UBI come?
The site I link details the shellacing coming.
We have NO sitting governments. We are being run totally by UN-led NGOs and Think Tanks.
The payouts they and those involved must be receiving are staggering. Likely also driving the housing market.

In April many large corps announced multi million dollar “Covid relief funds”. Where’d that cash get to? Exactly.
My guess is bribes into the New System, to keep operating. This Failed State known as Kanada is a criminal enterprise.
Just wait till the New Green Deal is dropped, you’ll see.

I need you to keep this illusion going people. Keep pretending that you are sick. Just a few more weeks to flatten that spread and stop the curve.
How to pay = now you’ll pay:

https://www.ubiworks.ca/howtopay

#119 Paul on 09.15.20 at 9:11 pm

#104 Ronaldo on 09.15.20 at 8:16 pm
#42 Millennial Realist on 09.15.20 at 5:43 pm
Hey Paleos – did you notice how Chrystia just called his bluff and kicked Trump’s ass today?
——————————————————————
Now that was funny. Wait a bit and see what is going to happen with our lumber exports now. Talk is cheap. The U.S. will respond and it will cost us all. It’s like a cat and a mouse playing a game. Guess who is going to win.
————————————————————————————————
So Trump gave us a break and backed off the tariff, way to go Donald! No no Chrystia kick his ass hahaha.
She better put on her big girls pants

#120 Ponzius Pilatus on 09.15.20 at 9:17 pm

Garth is correct again.
Can’t undo basic human behavior , that has evolved over 300,000 years, in 6 months

#121 SimplyPut7 on 09.15.20 at 9:19 pm

It will be interesting to see how the Liberals will get themselves out of this mess.

You can’t keep people on CERB because they won’t go to work (or find work if they were laid off) and will move out of town where CERB money goes farther.

You can’t have the second wave get out of hand or else parents will remove more kids out of public schools causing a surplus of teachers and transit workers.

You can’t spend your way out of this mess because there’s not enough money to go around to keep everyone in their pre-covid lifestyle.

And we still have hundreds of thousands of investment condos being built to investors who may not have a job to qualify for the mortgage need to close on the completed unit(s) nor are they able to find tenants to rent out the units since most worker from home employees don’t need to go back to cities until 2021.

2021 may be worse than 2020 as people realize all that free money made things worse for Canada as there currently is no exit plan that gets people back on track.

#122 meslippery on 09.15.20 at 9:33 pm

83 Nonplused on 09.15.20 at 7:24 pm

#5 YouKnowWho on 09.15.20 at 4:34 pm

“But really, I want it so that all these slave driving “disrupting” companies that are exploiting human beings have to fess up and pay them a wage that is competitive to get them off the UBI.”

How is giving someone a job exploitive? If you don’t want the job don’t take it, or quit.
______________

If we had a free market I would Quit. Then no one would take the job so the rate should go up..
No move the factory over sea,s says the boss or find
some poor bugger who is starving some where and get a temp workers permit and bring him here.

#123 Drinking on 09.15.20 at 9:58 pm

#113 Chester in Summer

I do not understand your comment besides being jibberess???? Be so kind to enlighten the rest of us on what your thoughts are!! It is Sept 15 2020 and I will make sure to look back at this post in November/December and see if your predictions are correct. If you have nothing to say then shut the **** up!

#124 Stone on 09.15.20 at 10:01 pm

#93 Curious One on 09.15.20 at 7:46 pm
#25 The Woosh,

So, I take it you’ve worked closely with the “execs” at JP Morgan, or any large financial institution for that matter. You speak with such authority when describing their inability to manage their time, or even understand the fundamentals of qualitative or quantitative reasoning. Well, I’ve worked with the ‘execs’ of most financial institutions for decades, and I can tell you they have no life outside their careers because the responsibilities are so consuming.

But I’m sure you are better equipped to take on that role and be much more successful.

———

The responsibilities are so consuming.

You must be joking. Seriously! You must really be joking.

The higher you go up in the ranks, the easier it becomes and the less work is required. It’s the scheming that eats up all these execs time.

I talk from direct experience. If I invest 1 hour a week on work, it’s a miracle. It’s called delegation. There’s an unlimited supply of kiss-asses to spread the work out to. The rest of the time is spent on maneuvering. Come on. It’s all about kneecapping my rivals.

But I understand. You’re not exec. You work for them.

#125 Stan Brooks on 09.15.20 at 10:07 pm

The labour trends in the world:

1. Automation
2. Outsourcing
3. On demand

of everything.

The notion that a big city with more expensive facilities in a very expensive country will somehow be competitive in terms of labour is pathetic and dangerously wrong.

Time will tell, but again it will be too late for the sheeple stuck in the big cities at the wrong time.

Big cities are for labour, not for the rich/the lifestyle is a myth. See the mass exodus from NY.

Cheers,

#126 KNOW IT ALL on 09.15.20 at 10:08 pm

GARTH,

That you on the front cover sitting down with shades on??

#127 Ponzius Pilatus on 09.15.20 at 10:09 pm

#127 Bill on 09.15.20 at 12:06 pm
For the clueless blaming Trump for the fires.
You obviously have no idea what is really going on.
Maybe stop watching the MM..your IQ will go up.
If gangs like Antifa, BLM or who ever are willing burn buildings, riot and kill people. Why not start fires?
Trump starting fires?…..ridiculous.
——
Trump claims that the fires in California are getting out of hand because the State of California manages the forests badly.
Well, turns out 53% of the forests in Cali are owned by the Federal Government.
So, by association, Trump is responsible for the fires.

#128 MF on 09.15.20 at 10:10 pm

115 Reality is stark on 09.15.20 at 8:57

Dad grew up in Hamilton and my grandparents lived there their whole lives.

The only secret is how bad it smells, and how many drug addicts roam the streets. Real estate there should be .20 on the dollar.

MF

#129 Stan Brooks on 09.15.20 at 10:12 pm

The job losses are in the big cities:

https://www.brookings.edu/blog/the-avenue/2020/04/29/which-city-economies-did-covid-19-damage-first/

This trend will only accelerate with automation and outsourcing.

Good luck in finding a job today there.

Good luck if you need a job to survive in 10-15 years.

Cheers,

#130 TurnerNation on 09.15.20 at 10:18 pm

^To backup my statement of NGOs running Kanada here they reveal, a list of them. In their own words the are running the show.
I swear the #s on the telescreen are being run by A.I. – to achieve the goals, facilitate more control by softening us up. Naw…it’s for our health!

https://www.isdglobal.org/isdapproach/partnerships/
ISD serves as a bridge between local communities, policy makers and the private sector at a time when trust in governments is low and the need for
collaborative community-based solutions is greater than ever.
To facilitate this, ISD fosters strategic partnerships across governments, academia, civil society and the private sector to develop policy and operational programmes to respond to the threat of extremism. We also work closely with leading players in the media and technology sector to help achieve impact on a global scale.
Partners
Academic Institutions
Private Sector
Foundations
Governments & Intergovernmental Organisations
NGOs
Think Tanks

#131 The Woosh on 09.15.20 at 10:19 pm

#93 Curious One on 09.15.20 at 7:46 pm
#25 The Woosh,

So, I take it you’ve worked closely with the “execs” at JP Morgan, or any large financial institution for that matter. You speak with such authority when describing their inability to manage their time, or even understand the fundamentals of qualitative or quantitative reasoning. Well, I’ve worked with the ‘execs’ of most financial institutions for decades, and I can tell you they have no life outside their careers because the responsibilities are so consuming.

But I’m sure you are better equipped to take on that role and be much more successful.

—————————————

Did I hit a nerve…or two?

Not at JP Morgan but at other FIs, yes I have on a professional and personal level. Most of those execs have lives outside of work (the smart ones at least). Those who are overly consumed by their work and “responsibilities” don’t end well. And yes, many have have very bad time management skills, and an inability to analyse a simple report. That’s why they bring in consultants.

On the flip side, why would I ever take on such a stupid thing as becoming an executive in a financial institution? Consulting is much more lucrative and allowed me to retire in my early 40s with millions. Hooray for me!

#132 Doug in London on 09.15.20 at 10:23 pm

So Garth, that means your suspender snapping coworkers will be back in that the office building in downtown Toronto again.

#133 Spectacle on 09.15.20 at 10:24 pm

#73 crowdedelevatorfartz on 09.15.20 at 7:00 pm
@#57 Yorkville
“to be fair, commuting (more than 30 minutes) is for idiots”

+++
I cant argue there.
I have one employee that commutes 90 miles EACH WAY every day for the last 7 YEARS ($6500/year on fuel alone, burned out two engines, countless tires, 470,000 kms on his car) …….. and….he…..rents………
———————-‘————
Well that was funny Crowded !
But think about the cheap rent he pays. ( probably shares such nuggets daily) . Must save about $500 a month….. to live in but-fub nowhere….near um nothing to speak of. False savings .
And drives a piece of poon vehicle.
Had many like him around developments over the years.

#134 millmech on 09.15.20 at 11:15 pm

#10 MF
You are correct that the WFH are way more productive, twice as much compared to working from the office as has been posted all over this blog, so there is no need to come back to corporate world.
If you are twice as productive you need half the people correct?
Not only that, but if your productivity has doubled from home, in their mind you were a non performing asset when you are at corporate and best to get rid of you now. Why bring you back to the office to just watch your productivity drop again?
Besides they can just unload all your responsibilities on the other WFH who are left, or just Gig it out to someone else in low LCOL area who will do the work easily for much less, thereby supplement their own WFH income with yours.
Business is not a charity and when they look at increasing corporate profits do you think that they will not cut out the WFH fat.

#135 DON on 09.15.20 at 11:29 pm

117 crowdedelevatorfartz on 09.15.20
++++

First they came for the Human Resources Dept …and I said nothing.
Then they came for the Safety Dept … and I said nothing.
Next they came for the Environment Dept. and I said nothing.
Last they came for me and I said ,
” I’m the last taxpayer. Who will pay for UBI?”

*******************
Didn’t you hear…they are using Trudeau’s Trust fund as collateral for UBI.

#136 Peter Kook on 09.15.20 at 11:36 pm

Do not see this in many cases.
“…The workplace is where innovation, collaboration, mentorship, experience and social interaction happen.”

It is applicable only to small startups, where some creative atmosphere can be found.
For bigger ones it’s quite opposite.

The bigger the company the faster those terms are turning into their antonyms.

It worse than this: 80% of work is completed by 20% of the team.

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

https://en.wikipedia.org/wiki/Pareto_distribution

#137 A J on 09.15.20 at 11:51 pm

We had a COVID related survey at work where a large portion of our workforce said they are more productive at home which is hilarious and a total lie. Working from home is full of distractions and temptations. I absolutely hate working from home. I get nothing done and it’s frustrating to say the least. Everyone is full of it who says the opposite. I cannot get ahold of co-workers because they’re never available. Sometimes when I call them they’re out shopping or running errands. This is NOT the future. It’s just not. People’s workplaces are being delicate and easy on everyone right now. They know they can’t push people too hard because the pressures and stresses everyone is facing is ALOT. But when COVID finally starts to disappear, and people are asked back to the office, if they don’t go back, they’ll be done at their jobs. They won’t be able to call the shots forever. Full stop. Everyone I talk to thinks they’ll be home forever. It’s not going to happen. So you better have a back up plan if you move hours away from the city. Because, like Garth said, you have no chance of advancing your career and keeping in good standing if you simply say “I’m not coming back.”

#138 april on 09.16.20 at 12:02 am

Just listened to Ross Kay on Howestreet and he explains how houses across Canada did not increase in price during this pandemic.
I suppose the odd home has sold for above asking but was it listed well below market value to get people bidding up the price as seems to happen quite often.

#139 NSNG on 09.16.20 at 12:17 am

It always bothers me when I hear the government talk about ‘investing’. If it were such a good investment, why wouldn’t the free market climb over itself to get at it? The free market has shown itself to invest in some pretty stupid ideas but there are apparently some ideas that are so daft even they won’t touch them.

This, in the minds of some politicians apparently, is what the government exists to do.

#140 Don Guillermo on 09.16.20 at 12:25 am

#117 crowdedelevatorfartz on 09.15.20 at 9:03 pm
@#80 Nonplused
“Bureaucracies tend to bloat for a number of reasons whether they are government or large companies. No manager ever figures they need less employees until the hammer comes down. So eventually they end up with whole departments producing reports nobody really needs or reads.”

++++

First they came for the Human Resources Dept …and I said nothing.
Then they came for the Safety Dept … and I said nothing.
Next they came for the Environment Dept. and I said nothing.
Last they came for me and I said ,
” I’m the last taxpayer. Who will pay for UBI?”
*************************************

First they came for the Human Resources Dept …and I said nothing.

This one is filed under Topic: Human Resources

https://blog.hubspot.com/marketing/gender-neutral-pronouns

#141 Don Guillermo on 09.16.20 at 12:29 am

First they came for the Human Resources Dept …and I said nothing.

This one is filed under Topic: Human Resources

Maybe they’re looking for sidewalk painters

https://blog.hubspot.com/marketing/gender-neutral-pronouns

#142 NSNG on 09.16.20 at 12:31 am

The lawsuits/political actions have begun:

400K sign on to ballot drive to repeal Michigan governor’s emergency powers

https://thehill.com/homenews/state-watch/516220-400k-sign-on-to-ballot-drive-to-repeal-michigan-governors-virus-powers

Pennsylvania Officials Stand By Pandemic Response After Judge Rules Against Orders

https://www.npr.org/sections/coronavirus-live-updates/2020/09/15/913332497/pennsylvania-officials-stand-by-pandemic-response-after-judge-rules-against-orde

#143 Dr V on 09.16.20 at 12:53 am

Here is Andrew Lang’s take (democratic candidate) for
the “freedom dividend” UBI of $1000/mo. It is worth the read.

https://www.yang2020.com/what-is-freedom-dividend-faq/

“In our plan, each adult would receive only $12,000 a year. This is barely enough to live on in many places and certainly not enough to afford much in the way of experiences or advancement. To get ahead meaningfully, people will still need to get out there and work.”

and….

“…the universal basic income is necessary for the continuation of capitalism through the wave of automation and worker displacement. Markets need consumers to sell things to. UBI is capitalism with a floor that people cannot fall beneath.”

#144 Jason Rule on 09.16.20 at 1:01 am

Move where you want and find work, if your goal is a house instead of a career. – Garth

Best advice ever.

#145 Shirl Clarts on 09.16.20 at 1:25 am

#78 Drinking on 09.15.20 at 7:10 pm
Let us just get through this winter. That nasty virus is making a huge come back already; November/December will be brutal, stay safe, keep cash handy and be smart!

^^^^^^^^^^^^^^^^^^^^^^^^^^^^
We bought extra TP all summer long. We now have about 168 rolls on hand.

In March/April, I had to get very creative. Prefer not to do that again.

I said to myself then, who are the jerks buying up all the TP.

Not panicked at all, rather just trying to get in front of the herd.

#146 Westcdn on 09.16.20 at 1:30 am

I miss Sailaway. Troll he may have been but he said things that sharpened my wits among others. I do the best with what I know and he did that in spades. Being a contrarian, I naturally occupy the middle ground where I get shot at both sides – my survival instinct is getting high.

There are many things I don’t know. I admit my mistakes (as much as it hurts my ego) and try to make amends(learn) but there are many who want me to suffer. Climate change, CV19 … I make choices and will not deny consequences of my choice. Lie, cheat, steal are things I try to keep out of my lexicon but push comes to shove, I am not out to lose. I will do the best I can.

It was a long haul to start with zero to earn modest wealth – I am not happy with those getting a free pass – no inheritance in my life although I may get 30k$ next year.

I think this is the year of proof for those who are alert. It takes a while to play out. Bankruptcy starts slowly then happens at once. We are good for a couple of years till the birds come to roost – think demographics and the need to protect the payment of debt.

I am not finding mispriced options or preferreds these days – time to cool.

One of my daughters decided to go for 3 – I will be there. I thought of linking to sheep behavior to people
but it was too insulting.

#147 easy street on 09.16.20 at 2:01 am

Lawn mower/snow blower repair. $100 to make it run. Booking now. Don’t wait too long! Old timey guy with tools and overalls in a neighbourhood near you.

The new economy is gonna be awesome. And remember, call before you dig.

#148 Nonplused on 09.16.20 at 2:35 am

#122 meslippery on 09.15.20 at 9:33 pm
83 Nonplused on 09.15.20 at 7:24 pm

#5 YouKnowWho on 09.15.20 at 4:34 pm

“But really, I want it so that all these slave driving “disrupting” companies that are exploiting human beings have to fess up and pay them a wage that is competitive to get them off the UBI.”

How is giving someone a job exploitive? If you don’t want the job don’t take it, or quit.
______________

If we had a free market I would Quit. Then no one would take the job so the rate should go up..
No move the factory over sea,s says the boss or find
some poor bugger who is starving some where and get a temp workers permit and bring him here.

————————————–

Well, it is hard to tell what anything is worth other than at a garage sale. We participated in a garage sale some years ago. My wife had partially used shampoo bottles on sale. I protested, “who in the heck is going to pay for that????” Pennies on the dollar but it turns out people will buy them. Wiffie was right.

You don’t know what anything is worth until you take it to market.

#149 crazyfox on 09.16.20 at 3:10 am

#17 Sunnyways on 09.15.20 at 4:56 pm

“Or even better imagine if COVID 19 was actually a deadly disease and statistically killing more people then no one? Cases up across the planet and deaths flat as a pancake across the planet. Clearly this virus is doing what all viruses do- ensuring it can pro create. Deadly mutations die off (with the host), less deadly but more contagious mutations pro create onward. It’s called evolution.” – Sunnyways

As winter approaches, the viral loads leading to new cases of infected will go up as most of us will get infected indoors. As viral loads go up, so will the CFR or death rate. In other words, what you think you see in terms of a falling CFR, is temporary.

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

We are approaching 30 million confirmed cases world wide. Of the 22 odd million closed cases, 4.35% have died. In the U.S., 2% of the population have tested positive for Covid-19 with a 5% death rate. While difficult to prove, if another 2% have contracted the virus but didn’t get tested, the CFR is 2.5% with 1 in 25 Americans already contracting the virus. But… y’know… its only the middle of September and we should have Trump for another 6 months in power and winter brings people indoors so there’s that.

Deadly virus’s mutate themselves to oblivion? There are notable examples of this with influenza. If only Corona virus’s were the flu. Should you look into Corona virus’s in general and see how they respond to herd immunity, you will understand why experts say Covid19 is here to stay. And if you don’t (its a hedonistic age, if it feels good do it right?), take it from someone who’s looked into it, its a suckers bet to believe what you said.

#150 Abc123 on 09.16.20 at 7:18 am

41-YouKnowWho on 09.15.20 at 5:42 pm
#150 robert james

I said it before many times, human beings have it backwards. Say it backwards. Harleys are a perfect example of that.
——-

Boy you really have a h!?d on for Harleys.

Garth don’t you ride a Harley ? Offended ??

HARLEYS DON’T MAKE ANY SENSE!

The only good thing about it is that they are on the way down and hopefully out. No one thinks they are cool. Young people don’t want them anymore at all. And once you ride something else and jump onto a Harley you realize what trash those Harleys are.

#151 crowdedelevatorfartz on 09.16.20 at 8:17 am

@#113 Ponzies Predictions.
“Not so fast CEF, not so fast.
Watch the news.
The Americans just blinked.”
+++

I guess you havent followed the 35 year Softwood trade agreement debacle. Endless US bickering followed by tariffs that Canada takes to the World Court and wins…. and they restart more tariffs. Something to do with Lumber Lobbyists in the US I believe

The Americans have also stated that the 10% Aluminum tariff will be suspended for now and IF Canada exceeds a “monthly quota” that will be reviewed each and every month by the US…… the 10% tariff will be re-introduced retroactively back to Sept 1st.
They have surrendered nothing .
There’s an election to fight in 50 days….or did you miss that part?

#152 Penny Henny on 09.16.20 at 8:19 am

Meanwhile in Niagara region.
August home sales report.
New listings- up 9% YoY
Sales- up 37.2% YoY
HPI Benchmark price- up 15.3% YoY
Days on Market- down 18.6% YoY

https://www.niagararealtor.ca/sites/default/files/files/Media%20Release%20-%20Complete.pdf

#153 Captain Uppa on 09.16.20 at 8:29 am

A friend of mine is hiring two mechanical engineers. He received just over 200 applicants – all with identical schooling backgrounds.

Tough out there. Learn a trade!

#154 crowdedelevatorfartz on 09.16.20 at 8:31 am

@#143 Dr V
“…the universal basic income is necessary for the continuation of capitalism through the wave of automation and worker displacement. ”

++++

Funny, and here I thought a universal basic EDUCATION was designed to help workers deal with automation and job loss.

A lazy, unmotivated sloth will gladly accept free money that the rest of us will have to pay for….it’s human nature.
Boomers are retiring at an exponential rate. Lose you job?, tons of work out there.
“Help Wanted” signs everywhere and all UBI will do is create an entire generation of kids to take the easy route of couch surfing + video gaming = zero job skills.

UBI
Unmotivated Baby Indoctrination

#155 Captain Uppa on 09.16.20 at 8:32 am

Your boy, Rob McLister, has said 75% of RBC mortgage deferrals were households who did not need to defer at all (source: Seeking Alpha).

Link: https://twitter.com/RobMcLister/status/1306056649212338180

Stupidity abounds, does it not? – Garth

#156 LP on 09.16.20 at 8:34 am

#116 IHCTD9 on 09.15.20 at 9:02 pm

I love anecdotes like yours. And I’m going to tell my 16-year old grandson about it. He got his first part-time job this summer at one of those home and rural general store type places, ideal for him since he’s an accomplished fisher and hopes one day to become a professional guide. He is strong and wiry and not afraid of hard work.
Recently at the end of his shift there was still about an hour of work left to do on assembling some pieces of outdoor equipment. He asked his boss whether he should stay to complete the work. Boss said no because my grandson had reached the end of the legal number of hours a part-timer could work. Grandson says, “how about I clock out and stay behind to finish up?”
I can’t describe how proud I am of my grandson’s attitude to his job. It will pay great dividends in his future I think.

#157 Captain Uppa on 09.16.20 at 8:42 am

#155 Captain Uppa on 09.16.20 at 8:32 am
Your boy, Rob McLister, has said 75% of RBC mortgage deferrals were households who did not need to defer at all (source: Seeking Alpha).

Link: https://twitter.com/RobMcLister/status/1306056649212338180

Stupidity abounds, does it not? – Garth

—————————————

It sure does.

When I go to renew in January, they are going to roll out the red carpet because I paid my mortgage normally with no deferral.

Quite aside: I was furloughed for months and did not consider deferring at all. It’s called a rainy day fund.

#158 Dharma Bum on 09.16.20 at 8:55 am

#10 MF

Tons of people are more productive at home.
——————————————————————–

I’ve posted it before, and I’ll post it again:

“WFH = Effing the Dee”.

#159 Dharma Bum on 09.16.20 at 9:04 am

#22 Linda

In office or out, these are the much despised coworkers who lounge, lunch & cruise along, secure in the knowledge that their managers will dump the work they are not doing on the backs of their productive counterparts rather than do the job of actually making them perform.
——————————————————————
https://www.youtube.com/watch?v=zBfTrjPSShs

#160 Dharma Bum on 09.16.20 at 9:12 am

#43 cuke and tomato picker

Congratulations to the postal workers of GRAND FORKS BC because they worked dispite the smoke.
——————————————————————–

…in between multiple breaks to go outside and smoke.

#161 Squire on 09.16.20 at 9:17 am

#4 Millenial Surrealist on 09.15.20 at 4:34 pm
Gig’s up boomers… it’s a new world starting Sept. 23… hop on board.. yer living in the past

——————————————
Go away… I got some bubble wrap for you. You can go dance in the streets with Mr. Socks and enjoy your socialist utopia.

#162 Gravy Train on 09.16.20 at 9:17 am

#139 NSNG on 09.16.20 at 12:17 am
“It always bothers me when I hear the government talk about ‘investing’. If it were such a good investment, why wouldn’t the free market climb over itself to get at it? […]” The free market has no incentive to provide public goods, since there’s no way for the private sector to profit from providing them, other than to contract with the government in their provision. Get it now? No? Here’s a link to more info on public goods! :P
https://en.m.wikipedia.org/wiki/Public_good_(economics)

#163 Do we have all the facts on 09.16.20 at 9:21 am

All Provinces and Territories have passed legislation related to the provision of social assistance to their citizens and to the development of Provincial or Territorial economies. While Section 94(A) of the Canadian Constitution grants broad spending authorities to the Federal government no spending initiative by the Federal government can abrogate legislation passed by a Provincial or Territorial government.

Recent focus on the possible introduction of a universal basic income initiative by the Federal government would require legislation that would supersede the economic and employment development objectives of legislation passed by each Provincial or Territorial government.

Justin Trudeau is a strong a federalist like his father and has used the Covid 19 crisis to push the spending power of the Federal government granted under Section 94(A) to the limit. At some point, and I personally hope that point comes sooner than later, Provincial and Territorial governments will begin to question the extent to which the Federal government is interfering with the Heads of Power granted under Section 92 of the Canadian Constitution.

Canada was created as a Federation not a Unitary state and it is time Justin was reminded of that reality.

#164 YouKnowWho on 09.16.20 at 9:36 am

#84 Jack is Back

——-

Jack, WHAT are you talking about man?

RULE 1: Say one thing, do another…in the political game.

Clearly, the words are to placate the masses. The actions of governments have had a clear intent to drive down the middle class, put them in debt and on a short leash.

And hey…in this ON LEASH middle class park, the government ensures no dog is off-leash.

#165 cramar on 09.16.20 at 9:43 am

#20 SoggyShorts on 09.15.20 at 5:01 pm

Regarding cleaning the tar off that Porche, I recently had a days long internet argument with ~20 mills about doing tasks that don’t fit into your job description. I was pretty much all alone on the side of doing more to get raises/promotions. Everyone else said it had to be the other way around; that they would only do additional work if they first got a raise to do so.

Personally, I’ve always felt that an employee is paid for their time, and any task that isn’t significantly more demanding than their usual is on the table.

Doing only one specific task is what (sub)contractors are for.

Again, I was alone in that opinion with several on the other side who said they’d refuse to do the simplest of tasks(like a lunch run) if it wasn’t part of the duty set that they were hired for.

——————–

There are plenty of motivation/success books written by wealthy people who tell you to do more than you are paid for. These people are super-successful and wealthy.

I remember a quote by Elbert Hubbard written over a hundred years ago, “Folks who never do any more than they get paid for, never get paid for any more than they do.”

I suspect these ~20s will always be average people in average jobs.

#166 conan on 09.16.20 at 9:57 am

Cats actually make you much more productive at home. – Felix

Ummmm no. Cats go for the productivity jugular. They will try to sleep right on your key board. Not just any keyboard, the keyboard that you are currently using.
And then they ask, err demand to be petted, giving that Puss in boots look from Shrek .
Cats will screw your Zoom meeting, and prevent you from typing.
I have heard stories of cats being able to press control ,alt ,delete , all at the same time time, then the lock button.
They don’t care.

#167 YouKnowWho on 09.16.20 at 10:03 am

#83 Nonplused on 09.15.20 at 7:24 pm

How is giving someone a job exploitive? If you don’t want the job don’t take it, or quit.

———————————

Nonplused – what is happening? First you present outrage over someone exposing their nose from a mask to be able to breathe in air without restrictions. Now this?

How is giving someone a job exploitive? It is EXACTLY this thinking that is causing the average income to stand still or go backwards, more and more people to enter poverty, while CEOs pay explodes.

Look at what’s happening right now. Amazon sales are exploding. There is no magic when it comes to TAM for established products. More and more of that activity has shifted to Amazon from B&M – many businesses have closed due to Amazon, and many more will now after this.

And while Bezos has Musk envy, the fact is SpaceX has done it better, faster, cheaper. Instead of giving back to the employees Bezos is wasting money on some ME-TOO PENIS Rocket while creating hundreds of thousand of $16 an hour jobs that have displaced small business and communities by grabbing huge share of TAM, killing business diversity, opportunities for small business.

What is a $16/hr job you ask? It’s $640 a week. $2560 a month. PRE TAX. How much is rent in Toronto? Or a city? How much is food? Transportation? Do you have enough to have a pint on a patio or must you put it on a credit card?

$16/hr job is poverty. And considering how rich Amazon has got of this slave labour, and how indifferent Amazon executives have shown themselves to be to the pull of employees that do the work that makes Amazon existence possible, it is nothing short of repulsive.

But YOU did this. YOU Amazon Shopper. You are the one who’s driving this slave labour. Offloading your laziness and unwillingness to get your own stuff form the store. You have created this army of servants to bring you your goods that you clicked into an online cart.

And your reward for this? Well, it is non-activity. Poor circulation. Weight gain. Body weakening. Lungs weakening. Muscles weakening. Sugar levels increasing. Now your AMAZON online laziness has given you the end product – HALF of human population with pre-existing conditions because of our SLOTH. That’s what AMAZON sells really, SLOTH. And as I said over and over again, the virus appears to be here doing an audit.

Keep shopping on Amazon.

So Nonplused….you want to do that Amazon warehouse job for $16 an hour? With an ear piece directed by automated software telling you to go to this and this isle to pick this and that item and letting you know that you have 45 seconds to do it? Scanners and software monitoring your productivity by the second? No time to wash your hands after you go take a leak. You want that slave job?

Thanks for the favour offering this to the future generations AMAZON. So DAMN kind of you to offer this slavery opt-in. Who’s ring do I kiss in appreciation?

#168 YouKnowWho on 09.16.20 at 10:32 am

#105 Nonplused on 09.15.20 at 8:17 pm

Harley doesn’t sell motorcycles. They sell a lifestyle and culture.

—————————

Nonplaused, YES!

Harley doesn’t sell motorcycles.

They sell (marketing!) Lifestyle. Culture?

Indeed, they have to lean on this lifestyle and “culture” marketing nonsense to old dudes past their prime with some “recapture your youth” crap because the motorcycles are outdone by other manufacturers on every metric. They can’t sell the motorcycle. They sell a vision!

Every time I read a review of a Harley, it reads like a review of some magical overpriced audio equipment, with a bunch of marketing nonsense terms that draw attention away from the performance of the bike, speed of the bike, reliability of the brand, emissions, noise, etc. etc. Instead, look at the chrome. Look at the tassels! Look at the leather!

Harleys are an OLD MAN machine and the preferred motorcycle of women. Ridiculous all around, completely illogical on public roads. The whole point of a motorcycle is connection to road, performance, turns, esses, leaning into a corner.

Harleys dull the road with their weight, have no performance worth speaking about, totally suck in turns with their mass and are about going in a straight line safely for old dudes. And if you try to lean them you’ll scrape some garbage they attached to the bottom of the bike. This ensures you don’t dare take turns too quickly on a Harley, because the faster you go into a turn the harder the lean.

But then again top selling cars in US are pickups. Everyone has a pickup, nearly all of those owners are never picking anything up. So what do I know. Clearly we want to feel special, and companies know how easy it is to make us want that. So buy a Harley, put it on your pickup!

As I said over and over again – humans are a backwards bunch. We’re inconsiderate to each other. We buy products that are designed to be inconsiderate to each other. We do it on purpose. To be rebellious. LOOK AT ME! I’m 60 and riding a FAT, HEAVY, SLOW, chromed hog with tassels making noise on your street – I’m such a REBEL! I’m not AT ALL a childish fool.

If Americans would top buying the fuel inefficient pickups, the air they all breathe would be cleaner.

If people would stop buying these fat heavy Harleys, the collective public’s ears would be spared the noise. Harley knows they are selling our hearing. They know they are selling our breathing air. They paid fines for selling polluting garbage, but you can’t un-breathe the pollution they’ve emitted, so what good is that fine to you and that guy over there dying 4 years earlier because of the fine particulates he was breathing in that were emitted by this ridiculous motorcycle?

Now go…ride your Harley, pollute the air. Make the noise. You’re so special and rebellious. You’re lifestyle and culture is so special. Believe it, the marketing department at Harley says so!

#169 YouKnowWho on 09.16.20 at 10:44 am

#122 meslippery on 09.15.20 at 9:33 pm
83 Nonplused on 09.15.20 at 7:24 pm

#5 YouKnowWho on 09.15.20 at 4:34 pm

“But really, I want it so that all these slave driving “disrupting” companies that are exploiting human beings have to fess up and pay them a wage that is competitive to get them off the UBI.”

How is giving someone a job exploitive? If you don’t want the job don’t take it, or quit.
______________

No move the factory over sea,s says the boss or find
some poor bugger who is starving some where and get a temp workers permit and bring him here.

______________

And WHO allows the process to bring temp slave labour in here? WHO but our Government officials? They are telling you that they have your back, meanwhile, what is this propping of the bottom policy doing?

Think about it clearly for a moment? Is it really to fill jobs no one wants, or is it to continue to pay salve wages?

Of course the CEO and Executives won’t be taking pay cuts or freezes, so the net result is that while Bezos needs to keep this $185B growing – how can itbee enough, the prices will need to increase for the consumer if we’re to pay people more!

#170 millmech on 09.16.20 at 10:50 am

#153 Captain Uppa
My employer has been chronically short tradesmen for a few years, hired the last 12 in the last two weeks to be fully crewed up. The new hires are coming from companies that have shut down and only are here for the pay as it is dirty heavy work. One new hire was competing with 60 others for a job that he obviously did not get, it is getting slower out there, even for the trades.

#171 YouKnowWho on 09.16.20 at 10:51 am

I remember this interesting conversation/interview I listened to a while back

It was about hoarding.

The point being discussed was that when someone hoards newspapers, cats, books, plants, whatever – we look at it as a mental issue. Anxiety. A disorder. Perhaps related to anxiety. We identify it as bad behaviour. We make shows about it and highlight what a bad behaviour it is.

However, when the hoarding is of MONEY, it is no longer at all any of these mental disorder or issue derived things. It is good. It is success.

I found this incredibly interesting point that I am unable to square.

The math and logic on this one would clearly indicate no exceptions in hoarding of any sort.

Money is a storehouse of value, representing the ability to buy and consume. It is not an object. How can you hoard a proxy? – Garth

#172 RyYYZ on 09.16.20 at 10:55 am

#63 YouKnowWho on 09.15.20 at 6:44 pm

You think you want to ride? I have this advice for you.
1. Do the weekend course at Humber or something like that. Don’t you dare ride without it. It will save your life.

2. If you want to really ride fast, the roads are no place for it. Get your butt over to Mosport or some other track and get it out of your system in a safe environment for the fun you want to have. And since most people will absolutely not do this, we’ll continue to pick up pieces of bikes and bodies each and every riding season as long as time lasts.

Finally listen to Jeremy as he does is Top Gear anti-motorcycle PSA.

https://www.youtube.com/watch?v=6v4YNkurhLk

Get a fun car instead of a bike. A fun convertible lets feel fresh air as you look at your lady’s legs next to you, instead of everyone else BUT YOU getting a look at her back side.
===================================

The convertible hasn’t been made, and never will, that can deliver the visceral thrills that a motorcycle can.

I’m on my 25th consecutive year of riding and haven’t died yet, or even come close. Motorcycling is not an insanely dangerous activity, for those who take the time that learn to control their machines, and ride with some caution. But it is insanely fun.

#173 millmech on 09.16.20 at 11:03 am

#10 MF
https://www.reddit.com/r/PersonalFinanceCanada/comments/itw9f0/currently_working_2_jobs_simultaneously_at_the/
See how easy it is to be replaced, I bet this person could do the work of three maybe four people if he was ambitious enough.

#174 RyYYZ on 09.16.20 at 11:11 am

#109 Doug t on 09.15.20 at 8:31 pm
So you have to wonder what Canada will look like in 5 years ? 10 years? Will Alberta recover its former glory days – Or be in the dustbin? Will Ontario get it’s sh*t together and once again be the engine that powers the nation? Or will we slowly slide into a numb state of lost possibilities and lack of innovation? We will find out – but it’s not looking good
====================================

I’m going to have to pick option #2, I’m afraid. There’s little sign that any of the chattering classes in Canada have any vision for Canada’s future, beyond building an increasingly green, woke, multicultural, diverse society. Because all these things are inherently good, and will unleash the potential of our country. Well, at least those on the left have a vision, twisted as it may be. The Conservatives don’t seem to have any at all.

#175 Ace Goodheart on 09.16.20 at 11:14 am

https://torontolife.com/real-estate/a-toronto-family-wanted-to-escape-the-city-so-they-bought-a-315000-house-in-bracebridge/

She can work remotely at Structure Corp, headquartered in Etobicoke, about a 2.5 hour drive from Bracebridge (in good traffic – in morning rush hour, add about 2.5 hours to that).

He can get gigs year round playing in clubs in Bracebridge (a town that, like most Northern Ontario cottage country towns, completely shuts down in the winter time, when the cottagers abandon their second homes, fill their toilets with RV anti freeze and retreat to their winter pied a terre).

It goes down to -35 in Bracebridge in January, February and March. Quite regularly. Winters there are cold, desolate and lonely. Once the cottagers leave, there is little local street life.

Bracebridge is cut up into two parts. The old, downtown core, which the cottagers know, and the newer, strip mall filled West end, which the locals know. You will not find many cottagers in the West end of Bracebridge. Most of them do not know it exists.

Locals as a rule do not shop or dine in the old downtown. Too expensive, and too many tourists.

Quebec street is right at the edge of the old downtown area.

These folks probably know Bracebridge from going there in the summer time (when the downtown is rocking, full of tourists and cottagers on day trips).

All of that street life disappears in the winter.

I give them two years’ up there once they experience a Bracebridge winter. Six months of solitude, desolation and bone chilling cold (followed usually by the annual flooding of the Muskoka River, which runs through the middle of the old downtown, and floods predictably every spring, causing severe property damage along its banks, particularly in the downtown core area).

#176 YouKnowWho on 09.16.20 at 11:15 am

#150 Abc123

——————

If there was ever a ridiculous product it is a Harley. It is childish on every front. It does absolutely nothing well. Everything it does can be done better by another machine that cost less, is more efficient, performs better.

In what world does a machine that is so antiquated, over priced, slow, heavy, problematic, noisy – survive when other machines exist that do all of those things so much better?

Clearly an illogical world.

Sure, Harleys move forward, but that’s not really a high bar to clear, is it?

What is a Harley? When you were a child, maybe you had a bike. You put tassels on it. You had balls on the spokes to make sounds. Maybe a playing card. You couldn’t go fast. You certainly didn’t like turning much – it was about going in a straight line and making that playing card make the sound with the spokes.

You see…Harley are just an adult version of that. It’s ridiculous. And really so damn silly if you think it through. Grow up already.

Oh, I was in NJ a while back, and pulling up to a toll booth. I didn’t have a transponder and had to change lanes to get to the cash lane. This dude on a Harley TRIKE pulled up along and started yelling at me – seeing my plate, he actually yelled out “GO BACK TO YOUR COUNTRY!” I was laughing so hard, I couldn’t help myself. I rolled down the window and said “Sorry! Oh and hey, NICE TRIKE!”

There really is only one thing more ridiculous than a Harley, and that is a Harley TRIKE.

I mean, at that point…WHAT’S THE POINT? Just get a convertible car already for crying out loud.

You know how I told you I don’t trust Harley owner opinions like I don’t trust dudes with ponytails? And how ponytail dudes on a Harley are a breach in space/time? And how if you see a dude with a ponytail on a Harley with tassels you’ve hit Jackpot.

If you ever see a dude with a ponytail on a Harley TRIKE with tassels – you have just seen a UNICORN! Soak it in!

#177 Don Guillermo on 09.16.20 at 11:22 am

#168 YouKnowWho on 09.16.20 at 10:32 a

But then again top selling cars in US are pickups. Everyone has a pickup, nearly all of those owners are never picking anything up.

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

Best selling vehicle in Canada for 11 years running is Ford F-series.

Oops, I guess I’m high jacking the thread. I should focus on bashing Americans, Harleys and old geezers.

#178 YouKnowWho on 09.16.20 at 11:34 am

#171 RyYYZ on 09.16.20 at 10:55 am

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

The convertible hasn’t been made, and never will, that can deliver the visceral thrills that a motorcycle can.

I’m on my 25th consecutive year of riding and haven’t died yet, or even come close. Motorcycling is not an insanely dangerous activity, for those who take the time that learn to control their machines, and ride with some caution. But it is insanely fun.

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

The Ariel Atom is clearly that machine RyYYZ. But the truth is visceral does not belong on public roads. And you know what you need to do to make a motorcycle a visceral experience – put yourself and others in danger by breaking the posted speed limits to really get that motorcycle into the sweet zone, because it isn’t there at 40, 50, 60 km/hr.

Motorcycle at 50km/hr is pedestrian, boring, noisy, uncomfortable and hot. Motorcycle at highway speed is mundane, even more noisy (unless earplugs) again boring and now dangerous as people in safe cars weave around you trying to get ahead. You’re almost forced to go over 130kh/hr just to assert your space, and that’s too fast for OPP’s liking. You’re going to tell me that riding a bike in city traffic or highway is enjoyable? No sale. You need nice back country curvy roads. You need speed. You need to get lost. Cabot Trail. All those lovely NS non-highways I went through. Some of the states I rode through.

No doubt what you say is true. It can be fun indeed. I used to go do 8-10hour days up north just shreading those roads. I decided to stop riding after having a few frustrating close calls where people changed lane into me. That happened once too many times, and the last time it was so flagrant and careless on the driver that I realized that it is out of my hands and in those situations I’m the one who’s getting injured or killed, not the drivers. Too close, won’t push my luck anymore. Came home, cleaned my bike, took photos, posted, sold 2 days later, adventure done. Walked away from the table while ahead.

Canada is a country of many from different cultures with various road etiquette. Add to this lack of motorcycles on the road for good 7 months of the year to not train people to their presence and it is no wonder that motorcycles are a disappearing breed. It is dangerous out there, and it’s a matter of time for any rider. Told you about the acquaintance who lost arm. Another busted up his knee pretty badly and limps. I’m lucky. No more.

Certainly won’t get back into it in my old years with a Harley trying to recapture my youth! I’ll work on a model train, watch birds – like a senior should. Instead of trying to be young again on a heavy vibrator.

#179 Short Fuse on 09.16.20 at 11:47 am

DELETED

#180 Yukon Elvis on 09.16.20 at 11:49 am

#171 YouKnowWho on 09.16.20 at 10:51 am
I remember this interesting conversation/interview I listened to a while back
It was about hoarding.
The point being discussed was that when someone hoards newspapers, cats, books, plants, whatever – we look at it as a mental issue. Anxiety. A disorder. Perhaps related to anxiety. We identify it as bad behaviour. We make shows about it and highlight what a bad behaviour it is.
However, when the hoarding is of MONEY, it is no longer at all any of these mental disorder or issue derived things. It is good. It is success.
I found this incredibly interesting point that I am unable to square.
The math and logic on this one would clearly indicate no exceptions in hoarding of any sort.

Money is a storehouse of value, representing the ability to buy and consume. It is not an object. How can you hoard a proxy? – Garth
………………………………..

Money is security and the freedom to do what you want when you want with your own time.

#181 YouKnowWho on 09.16.20 at 11:55 am

Money is a storehouse of value, representing the ability to buy and consume. It is not an object. How can you hoard a proxy? – Garth

———————

I used to word money to symbolize wealth. It is not an object indeed but control of an asset, wealth, storehouse of value, proxy as you say.

If you don’t want to use the word money, let us use “storehouse of value” or “control of proxy”.

However you want to define wealth, the point is about hoarding of it. Hoarding as a behaviour is shamed, considered a mental disorder.

Why then does hoarding of wealth, proxy, storehouse of value not considered in same light as hoarding of cats or books?

Bezos is a hoarder of wealth. Gates. Buffet. The Queen.
We idolize these hoarders, because of what they hoard. While we shame others because they don’t hoard these specific wealth instruments.

How does the behaviour of hoarding turn from bad to good simply by the item you hoard?

Clearly the root of this hoarding behaviour is the same mental disorder, regardless of item hoarded.

#182 Dogman01 on 09.16.20 at 11:57 am

#125 Stan Brooks on 09.15.20 at 10:07 pm

The labour trends in the world:
1. Automation
2. Outsourcing
3. On demand
of everything.
Good luck if you need a job to survive in 10-15 years.

#130 TurnerNation on 09.15.20 at 10:18 pm

I swear the #s on the telescreen are being run by A.I.

#167 YouKnowWho on 09.16.20 at 10:03 am

future generations = work @ AMAZON

————————————————–

This is the dystopia your kids are walking into, very little work, most of it in service sector with pay to maintain them in a “poverty trap”. Coordinated media used as the benzodiazepine for the masses.

Yuval Noah Harari is correct, A permanent wealthy mobile global elite, accessing technology and biological solutions to further expand the gap between them and the rest of humanity. No Star Trek economy.

#183 YouKnowWho on 09.16.20 at 11:59 am

#177 Don Guillermo

————–

I see those pickups out there. Don’t worry. Canadian’s aren’t that different than Americans – except with Real Estate and debt.

We have same insecurities and need to feel special that marketing companies exploit.

Plenty of Canadians driving pickups out there. Picking up nothing. Polluting your air unnecessarily just to get to a store. You know you need a pickup truck to get your groceries. I mean…have some self respect!

#184 YouKnowWho on 09.16.20 at 12:03 pm

#180 Yukon Elvis

Money is security and the freedom to do what you want when you want with your own time.

————————-

OK. So how much do you need to hoard? And you know, you’re free to do what you want with your time if you just stop buying all that useless $#!+ like Harleys and pickup trucks.

Look, we’ve read the stats. 1% wealth equals the remaining 99%. Jan 2020 50% of Canadians were $200 away from broke, now it’s 43% – hurray!

Bottom line – the 1% are hoarding all the wealth away from the other 99%, are they not? There is only so much of it, and it is controlled, owned, hoarded.

My question simply is – how is the lady hoarding dead cats in her house a woman in need of mental help, with an anxiety disorder and the billionaire guy hoarding wealth a saint to be celebrated? They are both hoarders exhibiting the exact same behaviour that is classified as a mental disorder. Only difference is the item the hoard.

#185 MF on 09.16.20 at 12:11 pm

8 Dharma Bum on 09.16.20 at 8:55 am

I posted it before and I’ll post it again.

Someone who eff’s the d at the office will just eff the d at home. Someone who works hard in the office will work hard at home.

Which group do you belong to?

MF

#186 Sunnyways on 09.16.20 at 12:23 pm

#149 crazyfox

Deadly virus’s mutate themselves to oblivion?

————————————————————————————————

Not sure where this came from. I never said anything about deadly viruses mutating themselves into oblivion. You added that all on your own, for dramatic effect I suppose.

You should read and comprehend what I wrote and you even copy and pasted. I said the exact opposite.
Deadly viruses mutate in order to ensure their survival.
A corpse does not spread disease, well unless you go up and give it a big kiss. But a living person walking around the mall and touching merchandise and coughing on people sure does.
If a disease is deadly it is easy to contain. The sick are coming to you. They are wandering into hospitals or doctors offices or calling ambulances. They are right there. Dead or dying on the floor. No need to go looking for them. Contact tracing is easier as well for the same reason.
The virus has the same goal as every single organism in the galaxy. The same goal as the birds and the bees and you and me. Procreation. That’s it. It needs the host to survive in order to pro create as long and as effectively as possible. It needs people sick but still healthy enough to go shopping and go to work and spread it around. Not people so sick they isolate themselves and then die.

No viruses don’t mutate themselves into oblivion as you falsely stated I claimed. Quite the opposite. They mutate in order to ensure they are with us forever.

And that’s ok.

Also this is not a deadly virus but I digress…

#187 YouKnowWho on 09.16.20 at 12:24 pm

#182 Dogman01

Steve Jobs was still alive when Wall-E was made. And I can just about imagine him having hands-on input into this specific segment of the movie.

Of course, he didn’t want to put these Fitless humans against a Pandemic in a children’s animated movie. He left that to reality.

https://www.youtube.com/watch?v=s-kdRdzxdZQ

How far away are we from his future? Of course this future vision “pig” has lipstick on it. Reality won’t be so shiny.

#188 Attrition on 09.16.20 at 12:41 pm


#178 YouKnowWho on 09.16.20 at 11:34 am

Certainly won’t get back into it in my old years with a Harley trying to recapture my youth! I’ll work on a model train, watch birds – like a senior should. Instead of trying to be young again on a heavy vibrator.

One of the best summaries of road riding ever written!

I too rode on the streets for about 25 years, everything from FXSTs to KLRs to ZZRs, up and down the west coasts of Canada and the US, and overseas.

Tonnes of fun, but you’re spot on. Unless you speed or accelerate/ride aggressively, street bikes suck. Drivers are worse now, roads more clogged, and waaay too many smacked out stoned and over-caffeinated motorists on the roads…

But instead of taking up model trains, puttering about the yard, dehydrating prunes, growing flowers, wearing loafers (whatever those are) or deciding to get old, weak, lethargic, bitter, flabby and slow, I traded my street bikes for off road only machines.

I now ride 2-3 times a week, 3-4s each time, on trails I would have struggled with in my 30’s. I’ve shed a good 5kgs, toned all the muscles in my body and can now run and hike 2x longer than I could 5 years ago.

I guess what I’m saying is you were half right: it was a good time to put away street bikes, but it’s never the right time to put away dirt bikes.

#189 Sunnyways on 09.16.20 at 12:50 pm

I should clarify my last statement. This is NO LONGER a deadly disease.

It does not take an epidemiologist to see that the virus that is afflicting us today is not the same virus as the original mutation that broke out in Wuhan or New York.
Doctors in Wuhan were convinced they were witnessing the emergence of a new plague. The death rate was tremendous across all demographics.
Contrast that with New York and the death rate was still extremely high but already not nearly what it was in Wuhan. The virus was too deadly in its original form in Wuhan and it’s less deadly mutations lived on and were spread around the globe.
Even now it is clear the virus spreading across the USA is not the same mutation that landed in New York. The death rate has utterly collapsed.

#190 fasten your seat belts on 09.16.20 at 12:53 pm

Word Bank doc,
page 6 says, it ends in March 2025

http://documents1.worldbank.org/curated/en/993371585947965984/pdf/World-COVID-19-Strategic-Preparedness-and-Response-Project.pdf

#191 Quintilian on 09.16.20 at 12:56 pm

“listed for $699,000 garnered 63 showings and 13 offers, giving its owners $885,000.”

The people that bought it deserve it.

#192 YouKnowWho on 09.16.20 at 1:07 pm

#188 Attrition

But instead of taking up model trains, puttering about the yard, dehydrating prunes, growing flowers, wearing loafers (whatever those are) or deciding to get old, weak, lethargic, bitter, flabby and slow, I traded my street bikes for off road only machines.

——————–

Attrition. My goodness. You had me on the floor by dehydrating prunes. Although I have noticed I am incredibly fond of smelling flowers already. Not growing them, but I sneak into places they grow and get my free smell. So many flowers I have not smelled in the past. They are amazing!

You’re 100% spot on. You have to do something, not just sit there and wither.

My weapon now is Trek Pro Caliber Carbon with full XTR. Mountain Bike. 19.4 lbs. It’s a beast. You could buy a nice Harley for this money. But it would weight 350-400 times more!

I still want visceral, so I hit some single trail. Do a nice loop get the body going. Sure, I still ride on the streets with it on occasion, I mean they’d just destroy Bloor street for cars to put in bike lanes, so I may as well use them to get to the DVP trails. It’s my weapon. I’m done with motorized two wheelers myself. It’s all about the human power machine now. 40km/hr feels pedestrian on a motorcycle, but it’s heavenly on a mountain bike, and so surprising to road bikes I pass.

You have to be a creative human being. You have to realize that we have mobility to use it. We’re not supposed to sit and be lazy. We should move.

#193 Barb on 09.16.20 at 1:16 pm

In BC, Horgan expected to call election in the next day or two. I recall two NDP reigns of terror back in the 90’s.

And Trudeau won’t be long in calling for a Federal election.

Gawd save us all.

#194 IHCTD9 on 09.16.20 at 1:24 pm

#183 YouKnowWho on 09.16.20 at 11:59 am
#177 Don Guillermo

Plenty of Canadians driving pickups out there. Picking up nothing. Polluting your air unnecessarily just to get to a store. You know you need a pickup truck to get your groceries. I mean…have some self respect!
____

Ford only makes 2 cars now. GM makes zero cars. North America for the most part want trucks of various kinds. The 3 top selling vehicles in the USA are all big @ss full sized pick up trucks.

It’s not as bad as you think – trucks get great mileage these days – the small diesel half tons are getting 30+ mpg hwy, and they are regulated the same as cars are on emissions.

Fancy Pickups these days are for towing toys. No one wants to throw a load of scrap metal into the back of their 100K Sierra Denali 6.6 Duramax 2500HD. They haul boats, ATV’s and camper trailers for the most part.

#195 Attrition on 09.16.20 at 1:42 pm


#191 YouKnowWho on 09.16.20 at 1:07 pm

#188 Attrition
——————–

Attrition. My goodness. You had me on the floor by dehydrating prunes. Although I have noticed I am incredibly fond of smelling flowers already. Not growing them, but I sneak into places they grow and get my free smell. So many flowers I have not smelled in the past. They are amazing!

Flowers make me sneeze, but I had a feeling you were still on two wheels in one form or another. And that is a nice ride indeed!


#192 Barb on 09.16.20 at 1:16 pm

In BC, Horgan expected to call election in the next day or two. I recall two NDP reigns of terror back in the 90’s. And Trudeau won’t be long in calling for a Federal election.

Great choice of words: a (first world) reign of terror it was indeed.

What did we have, FastCats, endless labour strife in almost all sectors, fudge-it-budgets, Bingogate, Casinogate, economic torpor…and on and on.

Not excusing any other parties, but the olden days NDP was something else. (W)horigan seems decent though, not too much of a socialist ideologue and a more down to earth, soft leftie.

But it’s excellent politics to call an election soon – it will win him and Truedope easy majorities…just not easy for the rest of us to swallow.

#196 maxx on 09.16.20 at 1:55 pm

I know people who “lived for today”. They are old now, and sha-la-la-ed themselves into a world of hurt.

No assets, harvesting handouts, non-existent sense of accomplishment…..just a lot of wobbly entitlement.

Data sets in decision-making are a dime a dozen. Then, there is invoking the sixth sense and likely most important of all, common sense. Basing any important decision on limited data alone is pure folly.
“Figuring it out when you come to “it” (FUBAR) is really just trying to dig yourself out of a probable unrecoverable financial error.

Amazing how that repeats in all generations.

#197 Masks really do make some people more attractive on 09.16.20 at 1:57 pm

#189 Sunnyways on 09.16.20 at 12:50 pm
I should clarify my last statement. This is NO LONGER a deadly disease.

It does not take an epidemiologist to see that the virus that is afflicting us today is not the same virus as the original mutation that broke out in Wuhan or New York.
Doctors in Wuhan were convinced they were witnessing the emergence of a new plague. The death rate was tremendous across all demographics.
Contrast that with New York and the death rate was still extremely high but already not nearly what it was in Wuhan. The virus was too deadly in its original form in Wuhan and it’s less deadly mutations lived on and were spread around the globe.
Even now it is clear the virus spreading across the USA is not the same mutation that landed in New York. The death rate has utterly collapsed.

/////////

Let’s wait until we all head back indoors, when the viral load of those infected will likely increase, before we get too enthusiastic about less lethal mutations.

#198 Stoph on 09.16.20 at 2:04 pm

@YouKnowWho

I’d say that the proof is in the pudding when considering the increasing accumulation of wealth. The question I think should be answered is: is your life better off for it? Whether or not it’s good for society is separate matter.

#199 Stoph on 09.16.20 at 2:07 pm

#66 truefacts on 09.15.20 at 6:50 pm
Guys,

You don’t understand Millenial Realist until you see this:

https://www.youtube.com/watch?v=hLpE1Pa8vvI

Now you understand…
—————————————————————

That made my day.

#200 NSNG on 09.16.20 at 2:09 pm

#162 Gravy Train on 09.16.20 at 9:17 am

The free market has no incentive to provide public goods, since there’s no way for the private sector to profit from providing them, other than to contract with the government in their provision. Get it now? No? Here’s a link to more info on public goods!

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

You just defeated your own argument. If it is not profitable, it is not a public good.

#201 crazyfox on 09.16.20 at 2:13 pm

#174 RyYYZ on 09.16.20 at 11:11 am

Money is a storehouse of value, representing the ability to buy and consume. It is not an object. How can you hoard a proxy? – Garth

To the rational healthy mind, you can’t. Hoarders do not have a rational, healthy mind:

https://en.wikipedia.org/wiki/Obsessive%E2%80%93compulsive_disorder

Personality disorders are born out of acting on beliefs and knowledge that is false or not real. How many of us have beliefs in money that aren’t realistic? This blog addresses it daily and yet, the examples never stop coming. Not that I’m implying that everyone who slips into fantasy or imagined existence has a personality disorder (if left there long enough however, well on their way), but it does explain how and why people hoard proxy’s. They give it a value or a potential value that isn’t realistic, but its real to them.

Offering further, every form of discrimination (to others or ourselves), every conflict (external and internal) is borne out of false value, the false value we put on others and/or ourselves. The examples of this are endless in every facet of discrimination but for some, more obvious when it comes to money.

#202 GAV on 09.16.20 at 2:13 pm

#42 Millennial Realist on 09.15.20 at 5:43 pm

Hey Paleos – did you notice how Chrystia just called his bluff and kicked Trump’s ass today?

https://nationalpost.com/news/politics/trump-drops-aluminum-tariffs-sets-new-trade-thresholds-just-as-ottawa-readies-response

Millenia realist – Was this comment some kind of joke?

God I miss Harper.

#203 IHCTD9 on 09.16.20 at 2:25 pm

#175 Ace Goodheart on 09.16.20 at 11:14 am

I give them two years’ up there once they experience a Bracebridge winter. Six months of solitude, desolation and bone chilling cold
___

“Liam and Nichole both grew up in Elliot Lake…”

^They’ll be just fine in Bracebridge I think, unless the heat of their new southern home gets to them :).

Seriously though, I grew up in Thunder Bay, and I didn’t find it all that bad there even, other than the length of the Winter. The hot dry summers made up for some of that though. I think you need to get waaay up North before the winters are truly nasty.

#204 IGV on 09.16.20 at 3:07 pm

Looks like Mr.Powell just made it clear for rates.
Party on till 2023.

Inflation? Ignore it.
Max employment? lol ok then

#205 Sunnyways on 09.16.20 at 3:28 pm

#196 Masks really do make some people more attractive

Let’s wait until we all head back indoors, when the viral load of those infected will likely increase, before we get too enthusiastic about less lethal mutations.

————————————————————————————————

Ok I’m sorry but I do not see a possible correlation between cold weather outside and an increasing death rate. As long as hospitals aren’t over run I just don’t see it. Our hospitals weren’t even close to capacity and as of now in the states they have far more hospitalizations on a per capita basis but still no where near capacity.
The infection rate would have to increase MASSIVELY to over run our health system but even if it did it is not as deadly as it was so it’s hard to see that happening.

It is absolutely possible for an increase in infection rate but that has and is already happening. As long as infection rate is increasing and death rate is staying flat then this is a nothing burger.

Who cares if all 8 billion people on earth get Covid-19 but no one (statistically speaking) dies?

I have a compromised immune system from a genetic autoimmune disease. If I get Covid I currently have over 97 percent chance of survival. I would take those chances anywhere in life, anytime. In the casino, in the operating room, on the stock market, anywhere. If I’m going to hide under my bed for something that I have an overwhelming chance of surviving then there is no way I can ever come out. It’s riskier to go do just about anything. Just getting out of bed has inherent risk.

I have no problem with individuals hiding under their bed from a non deadly disease for the rest of their life. People should have that liberty in a free and open society. We live in an age when that is easier then ever. Skip the dishes and Amazon for everything. We can’t force the young and healthy and non terrified people to do the same though.

Quarantine and protect the sick/elderly/terrified. Let the rest of us free.

#206 JB CONDO DEATH on 09.16.20 at 3:33 pm

121 SimplyPut7 on 09.15.20 at 9:19 pm

It will be interesting to see how the Liberals will get themselves out of this mess.

You can’t keep people on CERB because they won’t go to work (or find work if they were laid off) and will move out of town where CERB money goes farther.

You can’t have the second wave get out of hand or else parents will remove more kids out of public schools causing a surplus of teachers and transit workers.

You can’t spend your way out of this mess because there’s not enough money to go around to keep everyone in their pre-covid lifestyle.

And we still have hundreds of thousands of investment condos being built to investors who may not have a job to qualify for the mortgage need to close on the completed unit(s) nor are they able to find tenants to rent out the units since most worker from home employees don’t need to go back to cities until 2021.

2021 may be worse than 2020 as people realize all that free money made things worse for Canada as there currently is no exit plan that gets people back on track.
……………………………………………………………..
Delinquent investment condos will kill the entire GTA market lowering past and present value. So if you own one now sell. If your buying one go and take a Valium, your going to need it when you see your investment dwindle.

#207 Gravy Train on 09.16.20 at 4:04 pm

#199 NSNG on 09.16.20 at 2:09 pm
“You just defeated your own argument. If it is not profitable, it is not a public good.” This isn’t my argument; it’s basic economic theory. You obviously didn’t read the link I provided you on public goods. The first line of the link provides the definition: “In economics, a public good (also known as a social good or collective good) is a good that is both non-excludable and non-rivalrous, in that individuals cannot be excluded from use or could benefit from without paying for it, and where use by one individual does not reduce availability to others or the good can be used simultaneously by more than one person.[…]

Common examples of public goods include: defence, public fireworks, lighthouses, clean air and other environmental goods, and information goods, such as official statistics […]. Some goods, like orphan drugs, require special governmental incentives to be produced, but cannot be classified as public goods since they do not fulfill the above requirements (non-excludable and non-rivalrous.) Law enforcement, streets, libraries, museums, and education are commonly misclassified as public goods, but they are technically classified in economic terms as quasi-public goods because excludability is possible, but they do still fit some of the characteristics of public goods.”

How can the private sector make a profit from providing these essential public goods (other than by contracting with government), since people can understate their preferences for them, and can enjoy their benefits without paying for them? Get it now? Or do I have to send you to the back of the class with Phylis and Nonplused? :P

#208 Sarah Richards on 09.16.20 at 4:44 pm

YouKnowWho, you are going the wrong way. You are going the road of poverty and economic, financial disaster, ruin.

I will tell you why. I have a younger cousin which lost every thing in Venezuela which was on of the richest countries is South America and when oil prices kept going up to $80, $90, $100 all the way up to $148 a barrel US. Chavez socialist government good friends with socialist Cuba Fidel Castro, Bolivia and other socialist states, governments which all made all type social programs, social government spending of promises with lies about how all the oil and resource money should be handled by the state, government and given to all the population and who cares about those evil oil companies and capitalism.

Now look at Venezuela, a economic basket case for years, people eating in garbage dumpsters, starving, massive unrest, electricity brown outs, massive poverty and a population that believed in the socialist utopia, paradise that is such a big, fat lie and does not exist.

The bottom line is going the other way of socialist, communist, marxist, liberal, NDP, Green Party etc. etc. is much worse, socialist, communist, dictators promising a type of social programs, socialism that always fails and makes everyone poorer.

My personal story is I worked all my life for around a 15% to 20% above minimum wage pay which today is $16.10 to $16.80 an hour. It is $14 an hour minimum wage in Ontario. I currently make $16.55 an hour working full time 45 hours a week.

You have to be smart where you live, how you live, be responsible and make good life decisions. Life most of the time is hard no doubt about it but at 49 years old, I have a paid off house in Barrie for 7 years now. I bought it in 1995 for $134,900. It took me 18 years to pay it off. I had only put a $20,000 down payment or around 15%. I started working at 16 years old part-time and full time plus over time every few weeks at 18 years old so by 24 I had saved $32,000. I was left with $12,000 in my account for a 10 months financial cushion in case of temporary layoffs, job loss etc.

Mortgage rates were 9.75% to 10.75%. I got a 10.25% 5 year fixed rate mortgage. Lower interest rates helped me but hurt me too somewhat on the saving, investing side. I did get 8% to 7% mortgage rates and then 5.25% to 5.75% mortgage rates by the time mortgage rates were 3.5% to 4.25% my house was almost paid off.

I have managed to save, invest in my RRSP’s, TFSA’s and other non-registered accounts GIC’s, ETF’s, mutual funds, OSB’s, REIT’s etc. I have now $355,000 and no debts of any type.

I did it with a starting $5.60 an hour wage back in 1988 part-time and full time $6.35 an hour back in 1990 plus some over time pay at 9.53 an hour.

By time I bought my first house in Barrie, I was still working full time making $8.10 an hour plus 40 hours a month over time at $12.15 an hour. By my 36rd birthday I had 70% equity in the house and $100,000 in savings, GIC’s, RRSP’s etc.

By my 42nd birthday, I was mortgage free, no other debts, no car loans, no credit card debts etc. plus I had $200,000 in GIC’s, ETF’s, REIT’s, mutual funds, RRSP’s, TFSA’s started them a few years.

Now as I said above I have $355,000 in savings, RRSP’s, TFSA’s, REIT’s, ETF’s, etc. and a house worth at least $425,000 with no mortgage, no debts etc.

I am making $40,000 a year full time at $16.55 an hour and I am saving, investing, maximizing my RRSP’s, TFSA’s and non-registered money total $18,000 a year or $693 from my bi-weekly paycheck. If you think that staying home and getting free government cheese, UBI, CERB, socialism dividend etc. whatever you call it is going to make Canada and Canadians more prosperous, you are staring down a nightmare not a beautiful dream.

Learning from my elders and my family’s elders is where the real knowledge and wisdom is. If Canada continues like Venezuela and others it is going the wrong way on a one way street and it will not end well for everyone.

#209 Drinking on 09.16.20 at 8:58 pm

#145 Shirl Clarts

Good on you; you get it! This winter will be the test, after that we are on a road to recovery, we have no choice..

#210 Drinking on 09.16.20 at 9:00 pm

#208 Sarah Richards

That is just awesome, good for you and thanks for the education on what is really happening Venezuela..

#211 MF on 09.16.20 at 9:43 pm

08 Sarah Richards on 09.16.20 at 4:44

Congratulations on the success.

Your Venezuela warning is hyperbole though.

Oil is a huge resource for us, but it’s not the only resource. Oil’s downfall is worldwide, not just Canada. People just like to politicize oil. Venezuela is also not next to the most prosperous capitalist state on planet earth like we are either.

Lastly, it’s possible the liberals are taking ubi and gbi to court ndp voters. Could be just talk.

MF

#212 Bezengy on 09.16.20 at 10:33 pm

“Immortality is the genius to move others long after you yourself have stopped moving.”

Sorry SM, but it’s the best I could come up with after a very long day. A life well lived, and on your terms. Cool.

#213 Tammy Simms on 09.17.20 at 12:16 am

I don’t hear anybody talking about taxing mortgages, real estate debts etc. This could be a good idea to do.

This would be a way for the government to raise some serious money and make high debt accumulation more difficult and keep down some real estate speculation for Canadian real estate debt junkies.

There is currently $2 trillion in mortgage debt and hundreds of billions in real estate line of credit debt. Lets say $2.3 trillion total so just a 1% tax on all this would be $23 billion a year, 2% tax would be $46 billion a year, 3% tax would be $69 billion year.

Now with these low mortgage rates of 1.75% to 2.0%, a 1% to 2% to 3% new annual debt, mortgage tax on real estate would be a good move to bring mortgage rates higher to 2.75% to 3.75% to 4.75% to maximum 5% with this annual debt, mortgage tax of 1% or 2% or 3%.

Another tax that would be good to keep real estate prices from getting too high is a minimum $5,000 to $20,000 maximum one time tax on CMHC premiums every 5 years. This would make speculating much harder for Canadian real estate debt junkies. This would easily raise billions a year in new taxes.

One more debt, mortgage tax idea is a much higher G.S.T. or H.S.T. say double 26% on all real estate commissions, real estate closing costs from lawyer fees to other final real estate transaction fees, disbursements etc. This could raise hundreds of millions to billions as well.

#214 april on 09.17.20 at 12:53 am

#189 – how do you know?