They did what?

Was the bond market surprised when Mr. Socks let it be known federal spending was just getting going? That the estimated $380-billion annual deficit was, well, merely a starting point?

Nah. Rock-bottom yields hardly budged on Canada bonds after the Throne Speech. Mr. Market says the central bank will continue to gobble up debt, creating demand and depressing yields for a while yet. Given the one-two punch of fiscal and monetary stimulus (Chrystia’s spending and the CB’s buying) we’re on our way to a $500 billion annual shortfall, and all the long-term consequences that will bring.

Don’t ask. They’re ugly. Your kids will hate you. Especially if they grow up to be anaesthesiologists.

Meanwhile, lenders are in a deathly battle for mortgage market share. Today we have a new all-time winner for the lowest fixed-rate, five-year home loan. It’s from those pirates at HSBC and clocks in at a mere 1.64% (for insured mortgages). It’s the cheapest advertised rate in Canadian history.

Yikes. That means it costs but $2,031 to carry a mortgage of $500,000 which, after five years becomes $415,600. Thus, $84,400 in principal is retired through making $122,000 in payments over sixty months. A record.

Combine that with 20x leverage, thanks to CMHC’s ridiculous insuring of 95% mortgages, and you arrive at these conclusions:

  1. When housing agency boss Evan Siddall warns young people not to buy real estate because of the inherent risk, and chastises society for its mindless ‘glorification’ of housing, is he hoping we won’t notice what his own outfit is doing? By insuring loans with extreme leverage, protecting lenders who can then do crazy things – like offer a 1.64% loan – this governmental body is literally begging moisters to jump in, increasing demand and jacking prices further.
  2. Ottawa is out of control. Stimulus spending is off the charts. Now the PM says, in a trumped-up, pre-election address to the nation, we’re in a second virus wave. Not maybe. It’s here. (By the way, the province I’m in today has one lonely dude with symptoms. No new cases. Nobody in hospital.) As a result of scary Covid, we’ll get national child care, universal pharmacare, payroll subsidies until next summer, a brand new CERB,  and, oh yeah, an enhanced shared-equity mortgage program for first-time buyers. Plus, of course, whatever the NDP wants in order to prop up the government. Did I mention there’s an election in the cards here? Will Canadians vote against cheap child care, 1% mortgages and free scripts?
  3. We are so drugged on debt. Households owe over $2 trillion, and mortgage demand is (of course) popping higher. The feds will spend $500 billion more than they have, pushing the federal debt way past a trillion. Provinces are pooched. Cities are crying for cash (look at poor Toronto and Vancouver). Conclusions: taxes and user fees will rise. When rates start sneaking back up, well, I hope you did the right thing in the final months of 2020.

First, if you’ve been even thinking a teensy bit about downsizing your real estate, and live in a bubble city or region (everywhere except Alberta, and the other flat bits), why not do it now? Buyers are currently hopped-up, wild-eyed, debt-infused zealots, seriously believing if they don’t purchase immediately they’ll be shut out forever. So cute. Anyway, this is the time to bail for top bucks.

Then rent for a while. Wait to get back in if you need property. The world will sure look different in two or three years when all of this stimulus starts turning to regret.

Looking to buy? Don’t. Utter foolishness. You’ll pay too much and are better off leasing a place since landlords are hurting and rental rates are dropping. Down 15% in the last few months in Toronto, for example.

If you must buy (spousal abuse) pre-qualify for financing. Get a five-year fixed commitment since the variable discount has largely vanished. If you end up in a bidding war, and win, (a) plan on staying put for at least a decade to justify being Hoovered, and (b) get a weekly-pay mortgage which – combined with today’s ridiculous rates – will help you trash the extra debt in record time.

Have a financial portfolio? Stay invested. The amount of government and central bank stimulus in Canada, the US and globally is unprecedented. Twelve trillion so far – which is about the size of the entre Chinese economy. It will continue to inflate many asset values, keep rates depressed, flow cash into capital markets, paper over anything Covid does and shift the burden of pain from corporations to governments, taxpayers and savers.

There’s a reason equity markets caught fire after their March lows. That’s when Trudeau and others turned the taps on. Despite all that the virus has done to our world, investors with balanced and diversified portfolios have skated through the mess. Now the taps are being opened even wider. No reason to think we’ll get a different result. And when a vaccine arrives, stand back.

By the way, did you see Ontario is now allowing employers  (effective next week) to skip making contributions to their defined-benefit pension plans? More virus fallout. More reason you need a Plan B.

216 comments ↓

#1 Blake on 09.24.20 at 10:45 am

I wonder if this will cause OMERS any issues, could government employers stop contributing or have they?

#2 Phylis on 09.24.20 at 10:48 am

The hair club guy needs to fire his photoshopper.

#3 Ace Goodheart on 09.24.20 at 11:11 am

There’s a big short in here somewhere.

Just have to find it.

Could be the next income tax refugee hiding out in the Caymans on the world’s most expensive mega yacht.

#4 willworkforpickles on 09.24.20 at 11:14 am

“Buyers are currently hopped-up, wild-eyed, debt-infused zealots, seriously believing if they don’t purchase immediately they’ll be shut out forever.”
“Yes. Livin the dream.”

I need everything the world owes me
I tell that to myself and I agree

…….10 years past built on debt.
…….and the lies of 10 years yet.

I’m right in between so I’ll
I’ll just play along with you and you and you.

#5 Bob on 09.24.20 at 11:16 am

You echo my concerns.

What can we do? (not individual portfolio… but for the country?)

#6 willworkforpickles on 09.24.20 at 11:17 am

“Yes. Livin the dream.”
…..”and what i thought was heaven turned out to be hell”….

#7 Classical Liberal Millennial on 09.24.20 at 11:18 am

How would we find out if our employer stopped contributing?

#8 Doug t on 09.24.20 at 11:23 am

BUY HIGH SELL LOW :)

time to hunker in the bunker and be thankful for what you have – the next few years are not going to be kind

#9 Howard on 09.24.20 at 11:43 am

How do you like the Liberals’ scheme to buy up hotels and motels and turn them into “affordable housing”?

Given what we know of the WE scam, I am guessing there is a major Liberal donor with exposure to low-end motels that needed a bailout…

#10 willworkforpickles on 09.24.20 at 11:43 am

FOMOmania Now
“I’m caught in a dream…so what, you don’t know what I’m goin through”

#11 Sail Away on 09.24.20 at 11:45 am

Us opportunists are loving it.

Just sold the Shaughnessy SFD. Bought $900k in 2009, rented out for 6 years then used it for family business and friends, spent $300k total in renos and upkeep, sold $2.8M 2020.

Good investment. End of fiscal is September, so current corp tax on cap gains and loads of cash to deal with.

hmmm… what to do, what to do? offshore? loan to active engineering corp? re-invest in RE? hire dogwalker for daily poop on Ponzie’s lawn? so many options…

#12 Catalyst on 09.24.20 at 11:47 am

You just need to change your paradigm of thinking. The old views on monetary policy have expired and CBs have become government political arms used to keep the incumbents in power. Since this is a global co-ordinated money printing, don’t be surprised to see a global co-ordinated debt jubilee or similar outcome measure. The thinking will be, we cannot let a virus hold our future hostage, delete a few zeros on the computer, and we are back to growth.

There is almost no recorded time in the last 30 years of any sort of austerity being possible and that is a trend you don’t want to bet against. How about the old mantra that gets dragged out about we spend in the down turns and save (or raise rates) in the boom times. Well no one can agree on when we are in a boom time, and no one wants the party to end on their watch so it doesn’t. They will whip out the charts about how future gdp growth will make today’s spending look prudent because the green economy is the future.

What I want the conservatives or someone to do is get some details on HOW does a green economy create CANADIAN jobs? Are we breaking ground on battery plants? (no, germany china and US are) Are we building nuclear plants for cheap hydro? (God no, we are installing texas instrument calculators to our hats to try and get enough power to turn on the kettle). Ugh, I need a few days off the news.

#13 Yuus bin Haad on 09.24.20 at 11:48 am

On a more positive note, the proposal I submitted to Infrastructure Canada was well-received and they indicated that funding wouldn’t be a problem. My proposal was kind of sketchy, but I did promise to name the project “Green” something-or-other.

#14 Quintilian on 09.24.20 at 11:53 am

> governmental body is literally begging moisters to jump in, increasing demand and jacking prices further.<

It might well be that this is one of those cases where too much of a good thing could lead to a very bad thing.

If in fact there is any demand left and gets soaked up by the beyond ridiculous rates, it will just speed up the crash process.

A bold prediction indeed, but I would bet that the real estate crash will take place even with the low rates.

#15 Sunnyways on 09.24.20 at 11:54 am

If we do as we are told Justin Trudeau will give us Christmas.

So sad to watch Canadians be subjugated and simply beg for more.
These people are absolute lunatics and to say they are drunk with power is a huge understatement.

Theresa Tam – wear a mask when having intercourse
Patty Hadju – Canadians may hug family again, for now.
Justin Trudeau – no sitting down for thanksgiving with your family

Outrageous.

They believe they can regulate intimate human to human interaction. They clearly hold themselves up as god like figures.
Most Canadians are OK with this and it is heart breaking.
What exactly did my grandfathers generation accomplish fighting and winning WW2 if this is the eventual outcome? What a big waste of time and life that whole charade turned out to be.

#16 willworkforpickles on 09.24.20 at 11:58 am

Us Boomers had aspirations too when houses were cheap and mortgages were 20%.

#17 GREG S on 09.24.20 at 11:58 am

What if I do live in Alberta and do want out of real estate???

#18 Huh? on 09.24.20 at 12:00 pm

Let me get this straight… government inflated real estate bad, government inflated stock markets good.

Got it.

#19 Stan Brooks on 09.24.20 at 12:04 pm

If your plan B does not include moving out asap with all your money and liquid assets, you are pretty much doomed.

Cheers,

#20 Dirty Dan on 09.24.20 at 12:06 pm

> Now the PM says, in a trumped-up, pre-election address to the nation, we’re in a second virus wave. Not maybe. It’s here. (By the way, the province I’m in today has one lonely dude with symptoms.

Careful Garth, anyone that doesn’t tow the government line is labelled a redneck hillbilly Trump supporting racist. They’ll quote your line along with a picture of the Minnesota protesters occupying the government building and holding signs saying “I want a haircut”.

#21 The West on 09.24.20 at 12:06 pm

Electing governments who throw parties and then pass the hangover onto their kids.

It’s a part of our heritage.

#22 CJP on 09.24.20 at 12:13 pm

And .. what advice for the poor fool if spousal abuse happens to be driving you to purchase a new home in Calgary?

#23 not 1st on 09.24.20 at 12:15 pm

Not sure how you can justify keeping Canadian financial assets now that we know whats coming.

I am invested in Trumps america, its the only place left. Any Canadian domiciled companies I own have significant US operations.

Crazy to keep your portfolio here.

#24 Leftover on 09.24.20 at 12:18 pm

Put the sign on the lawn a few days ago, can’t wait to be a tenant again 30 years later.

What to do with the extra cash? Italy sounds nice.

#25 Moody on 09.24.20 at 12:25 pm

I wonder what the rating agency folks are thinking about all of this!!

#26 Ponzius Pilatus on 09.24.20 at 12:37 pm

Weirdest picture, ever.

#27 DLTINC on 09.24.20 at 12:37 pm

So what I’m about to write I expect will result in a blog like this to a lot of nashing of teeth but here goes.
If you are a small business owner and are negotiating yourself through all the paperwork to take advantage of the government assistance to help you through this pandemic you might wonder how a truly caring society would handle this crisis. I would think that just as there are so many losers, there are also corporations and individuals who are, as some would say, making out like bandits. Just as we small business people must calculate all of our losses in order to get our bailout, should not the big winners also accept that the only fair thing would be to have them calculate how much they have profited from the pandemic and hand over their gratuitous gains to finance those who have lost. Of course, our capitalistic system does not seem to permit this sort of compassionate response as any CEO which supported this I expect would be promptly replaced. Makes me wonder just how well a system founded on a concept of serving self interests serves the long term interests of mankind.
Can you imagine how professional sports leagues would fare if in a crisis affecting a poor team, the rich teams simply scooped up the best players of that team without compensation. I understand that if there were a plane crash resulting in a loss of nearly all players of a team, all the other teams have, under an agreement, agreed to help out. Why should crisis be any different?

#28 Don Guillermo on 09.24.20 at 12:39 pm

#9 Howard on 09.24.20 at 11:43 am
How do you like the Liberals’ scheme to buy up hotels and motels and turn them into “affordable housing”?

Given what we know of the WE scam, I am guessing there is a major Liberal donor with exposure to low-end motels that needed a bailout…
**************

Why focus only on low end hotels. Homeless people deserve luxury just as much as the next successful schmuck. Working well in San Francisco. I think Victoria is trying to learn some new lessons as well.

https://nypost.com/2020/06/27/san-franciscos-failed-experiment-of-homeless-hotels-is-a-cautionary-tale/

#29 paul on 09.24.20 at 12:44 pm

#9 Howard on 09.24.20 at 11:43 am
How do you like the Liberals’ scheme to buy up hotels and motels and turn them into “affordable housing”?

Given what we know of the WE scam, I am guessing there is a major Liberal donor with exposure to low-end motels that needed a bailout…
————————————————————————————————
They have been buying motels for years, for housing spousal abuse, refugees, homeless. At one time the Government just rent the rooms per day which moved up the motel gross sale some owners sold and made out like bandits. (No offence)

#30 C V on 09.24.20 at 12:56 pm

#22

And .. what advice for the poor fool if spousal abuse happens to be driving you to purchase a new home in Calgary?

—————————————

Ditto, seems stale here, and detached lower end <500k doesn’t look like it’s going to go any lower. Even if it does for a few years I’m not sure that warrants renting any longer.

#31 I believe everything on television on 09.24.20 at 1:02 pm

Ever notice how politicians and legislators NEVER use the term Agenda 21? That’s right, to fool you, they substitute ‘sustainable’ so no one will notice the deception. It’s masks forever

#32 SoggyShorts on 09.24.20 at 1:06 pm

#137 Nonplused on 09.23.20 at 9:40 pm
#69 Linda on 09.23.20 at 6:32 pm

Sooner or later people are going to have to accept that presidents use sarcasm too.

************************
Oh come on

https://www.reddit.com/r/PoliticalHumor/comments/g7h1xp/captain_excuses/

#33 jal on 09.24.20 at 1:08 pm

There is nothing to hate.
Just keep the promises.
Keeping the promises will deter those with nothing from taking, (by force), from those who have everything.
Canada, continues C19 revenue.
USA stopped C19 revenue.
We will see what is coming by watching the USA.
There are +60% of the people living beyond their revenues.
What to do?????

#34 Tri State Pat on 09.24.20 at 1:13 pm

Smart analysis below.

https://www.youtube.com/watch?v=vT-5RLSH9R8

#35 kc on 09.24.20 at 1:16 pm

15 Sunnyways on 09.24.20 at 11:54 am

AHHH another person who is waking up to the whole scam of this (covid crap)

they are all power hungry hypocrites.

“daniel son, mask on… mask off”

#36 SoggyShorts on 09.24.20 at 1:28 pm

#151 Dead to rights on 09.24.20 at 12:04 am
#19 SoggyShorts on 09.23.20 at 4:24 pm

I find that perhaps most importantly masks remind us that we should be vigilant. Wash hands, don’t touch stuff, don’t stand so close etc.

——————————————————————
You’d think .. but you’d be wrong.

People wearing masks tend to be some of the worst offenders. Putting that mask on tends to make some people feel that their mask is an impenetrable shield that will protect them from everything. Many touch their hands to their face as they remove their masks to talk on their phone, have little regard for standing close to others, don’t wear it properly and haven’t yet figured out what those arrows on the floor mean!

***********************
Source? Show me the study where people who are told not to wear masks social distance better than mask wearers.
The anecdotal evidence is of the total idiots who without a mandatory mask would be licking toilet seats anyways.

Masks send a clear message that something is up.
If no one is wearing a mask it signals that everything is fine.

#37 willworkforpickles on 09.24.20 at 1:49 pm

….Us Boomers had aspirations too when houses were cheap and mortgages were 20%….
It wasn’t exactly easy for many of us getting to where we are now…damn difficult for many actually.
…cool your jets mills, wait for a cheaper entry point…trust me, it will come…and learn something from those who’ve been there.

…and when you see me with a smile on my face…I wasn’t always always a mental case…

#38 Adam Smith on 09.24.20 at 1:50 pm

Universal pharmacare is actually a good idea, economies of scale and single-payer leverage is why European countries pay so much less than us or the US. The Liberals aren’t very good at pulling off big plans here but it has proven to be a cost-effective, workable plan elsewhere.

Universal government-ran daycare is an expensive nightmare. Honestly, we have huge numbers of people out of work and huge numbers of retiring lonely old people who don’t have enough cash to retire. Somebody make an app to connect them to people with kids already! It’s not like parents aren’t going to do their due diligence to make sure the person watching their kid is not a creep.

#39 TurnerNation on 09.24.20 at 1:53 pm

Couple decent points around economy/social.
We know our global elites play the Long Game/Long Con.
(What do you think they talk about at Davos, Bilderberg, Middle Class prosperity??)

This fits now that we are in the New System – a prison system whereby we were stripped of everything, and it must be earned back. Via Compliance.

1. They legalized Weed. Perfect a larg(er) group of passive and paranoid people – ready to believe the “News” networks such as the Corona Broadcasting Corp. (CBC) or CornaPropaganda24 (aka CP24).

2. The globalists ordered small businesses shut. What to do with that space? To their buddies – yes several former police chiefs and a former PM sit on the boards at weed companies.
I see these new Pot shops everywhere now, Tune in Turn on and Drop out. Head shops. They want your head/mind all right.

What’s going to replace all of Toronto’s failing restaurants? Look at this map.
https://www.agco.ca/sites/default/files/map/ONT_CN_ST_E.html

#40 T on 09.24.20 at 1:59 pm

#18 Huh? on 09.24.20 at 12:00 pm
Let me get this straight… government inflated real estate bad, government inflated stock markets good.

Got it.

————

Non-productive vs productive assets.

Get that.

#41 some guy on 09.24.20 at 2:06 pm

Imagine if we spent money on main street instead of going house broke paying our mortages. The real-estate industry has sucked the soul out of Canada.

#42 TurnerNation on 09.24.20 at 2:09 pm

For all the viruologists, immunologists and infecteous disease experts in this comments section, analyse:

https://twitter.com/OnCall4ON/status/1308410986911674368?

Your Ontario Doctors
@OnCall4ON
@fordnation
@celliottability
govt changed #COVID19 “case” definition to include:

“A person w/positive detection of serum/plasma immunoglobulin G (IgG) antibodies to #SARSCoV2” from any licensed Ontario lab

IgG serology tests show immunity, NOT a current infection

#43 Doug in London on 09.24.20 at 2:16 pm

I think of an older guy I know who recently sold his house to move into a seniors home. From what I’ve been reading here he did the right thing. This window of opportunity won’t last forever.

#44 Big Mac on 09.24.20 at 2:18 pm

Garth,

I thought timing the market never works. Those that sell their house today and rent for a while will wait forever for the market to cool off. They will likely have to pay much more in 2-3 years.

The suggestion was clear: if you have been thinking of downsizing, why not do it now when rates are low and buyers are idiots? Waiting is gambling. – Garth

#45 Ferry Boy on 09.24.20 at 2:19 pm

When almost 50% of the population are net recipients from the tax system, debts and deficits are someone else’s problem. Also, pre-covid almost 50% were $200 from being underwater. I get it. Life is expensive. So if someone is going to throw you something for free, you are going to accept (vote for) it. No change to this thinking until some pain comes along. 3 years before that happen would be my quess. As a fiscal conservative, I am headed for therapy!

#46 Ballingsford on 09.24.20 at 2:19 pm

Generations to come are in deep doodoo trying to pay off this debt.

Maybe the NDP won’t join with them and an election is called. Then T2 wins a majority gov’t.

Then he can spend our money like nobody’s business!

#47 TurnerNation on 09.24.20 at 2:22 pm

The business of sports and that zany prediction – one of many for the New System – from the late 60s that only Soccer would remain.

Recap:
– Toronto’s baseball team banned from the country.
– CFL football league was shut down
– NBA players already staged a work strike/stoppage

They’ve been driving fans away via use of propaganda – not sports. Watch this story – Hockey:

https://twitter.com/mikeinboston/status/1308909651
837280256

“”Sportsnet has confirmed Game 1 of the Stanley Cup Final between the Stars and the Lightning drew an average audience of only 1.081 million on Saturday night. In Game 2, on Monday night, the audience shrank to 841,000.”

Brutal numbers for what is supposed to be must see TV.”

#48 ImGonnaBeSick on 09.24.20 at 2:34 pm

#27 DLTINC on 09.24.20 at 12:37 pm
So what I’m about to write I expect will result in a blog like this to a lot of nashing of teeth but here goes.
If you are a small business owner and are negotiating yourself through all the paperwork to take advantage of the government assistance to help you through this pandemic you might wonder how a truly caring society would handle this crisis. I would think that just as there are so many losers, there are also corporations and individuals who are, as some would say, making out like bandits. Just as we small business people must calculate all of our losses in order to get our bailout, should not the big winners also accept that the only fair thing would be to have them calculate how much they have profited from the pandemic and hand over their gratuitous gains to finance those who have lost. Of course, our capitalistic system does not seem to permit this sort of compassionate response as any CEO which supported this I expect would be promptly replaced. Makes me wonder just how well a system founded on a concept of serving self interests serves the long term interests of mankind.
Can you imagine how professional sports leagues would fare if in a crisis affecting a poor team, the rich teams simply scooped up the best players of that team without compensation. I understand that if there were a plane crash resulting in a loss of nearly all players of a team, all the other teams have, under an agreement, agreed to help out. Why should crisis be any different?

—-

These winning large companies you speak of are likely public, so why wouldn’t you just buy the shares of the winners (or index of winners) and share in the spoils??

If you’re looking for a handout, go ask mom and dad… Not the government. Or put a plan together and take it to the bank…
Government shouldn’t be here to supply all your wants… Stop whining and do something about it…

#49 Ace Goodheart on 09.24.20 at 2:36 pm

Interesting news today.

Libs just gave themselves the right to spend borrowed tax money any way they like until Dec 31st 2020.

There are eight people in Ontario currently sick with COVID and over 400 new infections per day. Almost no one is getting sick anymore. Our COVID death rate, which was estimated at around 0.2% of infections, is headed so low you might need an electron microscope to see it.

Meanwhile they are discussing a new hard lock down here in Toronto. With exceptions made for BLM protests and “Keep your rent” pop up demonstrations of course.

Tesla, which did not have anything new to present for battery day, promised exciting developments to come for their self driving cars (they do not build any cars that drive themselves) and a wonderful new battery (that they have not invented yet). Their stock shot up in response.

Tesla bulls pointed out that it was only a matter of time before the model 3 and model Y could compete in both price, range and build quality with “entry level ICE cars”.

Major car manufacturers, who are all in the process of phasing out their ICE offerings and replacing them with EVs that blow any Tesla out of the water with better range, build quality and batteries, for much lower prices, seemed confused. Said one unnamed auto executive:

“Has Elon been smoking something? He seems to have his head in the sand….oh wait, never mind.”

In Canada, people with employment and assets began planning for how to live their lives as tax refugees.

The idea now seems to be basic survival. When all the new taxes come, keeping your house, at least a small part of your income, and some of your retirement savings, is the new universal goal.

And a spunky Toronto 11 year old was almost shamed on her way back to Canada for the crime of not winning an Amercian talent show….until calmer heads prevailed.

#50 Armpit on 09.24.20 at 2:43 pm

Why should one downsize from a single real estate asset – such as living on a farm (land rented to the farmer resulting in covering all property tax and income tax from the revenue).

High speed internet, OTA TV (40 channels), well water, septic.

Only 20 minutes from the downtown of a Bubble City.

I always said…. you only have one head that requires one roof. Rent the other roofs for temporary stays (cottages, Florida, etc) or get an affordable RV and travel around.

Garth… do you still own land in Ontario?

#51 ImGonnaBeSick on 09.24.20 at 2:43 pm

#41 some guy on 09.24.20 at 2:06 pm
Imagine if we spent money on main street instead of going house broke paying our mortages. The real-estate industry has sucked the soul out of Canada.

—-

This 100%.

#52 Keith on 09.24.20 at 2:57 pm

The few Canadians who actually pay a 50% + marginal tax rate will now have company – (paragraph 13) for those on benefits who make more than $38,000. I know people who restricted themselves to the earnings limit under CERB. The updated program should reveal how much of a disincentive a 50% clawback will be.

https://www.cbc.ca/news/politics/covid19-benefits-ei-cerb-transition-1.5737054

#53 Silent the people on 09.24.20 at 2:58 pm

Justin said that having the Canadian government
take on all this debt will ensure Canadians
don’t have to! Trouble is he will not have to pay
the bill! This won’t end well…..

#54 Andrewski on 09.24.20 at 2:59 pm

An honest mortgage guy. “That’s my way of justifying my existence and scoring karma points, so I don’t come back as an ant in the next life”.

https://www.mortgagebrokernews.ca/news/a-discussion-with-ratespy-founder-robert-mclister-333587.aspx?utm_source=GA&utm_medium=20200924&utm_campaign=WPCW-Newsletter-20200924&utm_content=708606F6-5BE0-481F-9A9A-EC7E25C236A1&tu=708606F6-5BE0-481F-9A9A-EC7E25C236A1

#55 Jacques on 09.24.20 at 3:02 pm

What’s plan B?

#56 SEAN on 09.24.20 at 3:06 pm

Why would you get a weekly-pay mortgage to trash debt at record lows? You should be taking as long as possible to pay off a 1-point-something percent mortgage and investing any extra funds.

#57 acb on 09.24.20 at 3:07 pm

Are companies offering incentive to abandon the DB in order to offset the loss of any employer contribution matching?

#58 Bob on 09.24.20 at 3:16 pm

In 1991 my West Island Montreal house cost $119 with a 13% mortgage. Same house now is $599 with a 2% Mortgage. I think we were better off in 1991

#59 Linda on 09.24.20 at 3:20 pm

I can’t vote in favour of what was announced. As one columnist put it, they wished they had put in a request for a unicorn.

For anyone who is looking to buy in ‘the flat bits’ those record low rates might allow for a heck of a deal. Just saying.

#60 IMALWAYSRIGHT on 09.24.20 at 3:30 pm

#9 Howard on 09.24.20 at 11:43 am
How do you like the Liberals’ scheme to buy up hotels and motels and turn them into “affordable housing
……………………………………………………………………….
I believe the new program is called AirBnT in honour of Butts and Trudeau

#61 YouKnowWho on 09.24.20 at 3:46 pm

I don’t know that this is ending so soon. You maybe optimistic with 2 or 3 years.

I think there are giant question marks around the vaccine. Today, I listened to Quarks on CBC Radio, and scientists are saying 2024 for year they can make enough for everyone. Some countries won’t get delivery of the vaccine for some time, unless they ethically need it like India, Brazil, and…wait for it…the good’ll you ess of A! That’s right, the Americans are clumped with India and Brazil as at the front of the line because of the deaths they are attributing to Covid.

Imagine that…the way to get bumped up to “First Class” of Covid vaccine priority is to have leading death numbers. Ain’t that something!

Safety…well, that’s TBD.

Meanwhile, Swansea Public School has a positive case. Kids are isolating. I saw a bunch of kindergarten kids play in a fenced off front yard for isolation playing – PUSH THE SCHOOL! I kid you not. I took a photo of a bunch of kindergarten kids with both hands on the wall, legs spread out like a mass protest arrest, trying to “PUSH THE SCHOOL”, this is the play time these kids have. Masks on. Lined up. Told to go back in line because one kid didn’t follow in line. So sad.

REMEMBER: These Sirology tests are AT BEST, 70% accurate, and this is our gold standard. Those IgG IgM tests are a total crap shoot – you don’t know what you’re getting accuracy wise. I mean, a false positive is EXACTLY the kind of flaw these tests give. But can you question these tests, even with this crappy accuracy? ABSOLUTELY NOT!

#62 YouKnowWho on 09.24.20 at 3:51 pm

I’ll give this picture a go Felix!

This dog is doing the honourable thing after learning the owners just got a cat.

Wow…that’s cruel even by my standards.

#63 yvr_lurker on 09.24.20 at 4:01 pm

#28 Don Guillermo

https://nypost.com/2020/06/27/san-franciscos-failed-experiment-of-homeless-hotels-is-a-cautionary-tale/

———–
I fully expect that something similar will happen in BC with the Gov’t buying hotels to house the homeless. It seems to be that the foremost problem is the drug addiction. Having better digs to continue unabated with the addiction is only going to lead (for many) to trashed hotel rooms etc. What is going on now in Strathcona park in YVR and the city simpy ignoring the effect on the tax-paying citizens trying to raise families and living near there is, frankly, appaling. I don’t know what the answer is, but somehow focusing on the core addiction and cutting down the illicit supply of drugs coming in seems like a better way forward. However, seems like a quagmire all around.

#64 Scared $$$$less on 09.24.20 at 4:04 pm

So, I was sitting in Life Labs waiting for a blood test. Sitting masked and socially distanced with the other people in the waiting room.

A elderly man walks in, without a mask, goes up to the receptionist and says “I’m here for a Covid test”. “ My doctor told me a I need to get a covid test”.

It was like he pulled out a gun. Everybody, including me, the receptionist and the people waiting scattered for the corners.

The receptionist was shouting to him from a distance that they didn’t do Covid testing and there was a big sign on the door.

I’m not sure how it was resolved as I luckily was called into an examination room.

#65 Dirty Dan on 09.24.20 at 4:11 pm

DELETED

#66 jerry on 09.24.20 at 4:11 pm

Do bond funds benefit any differently than individual bonds when government stimulus is in play as it it is now?

#67 MF on 09.24.20 at 4:13 pm

“ That’s when Trudeau and others turned the taps on. Despite all that the virus has done to our world, investors with balanced and diversified portfolios have skated through the mess. Now the taps are being opened even wider. No reason to think we’ll get a different result. And when a vaccine arrives, stand back.”

-the taps were turned on in 2008, which set a dangerous precedent and solved nothing. Anytime there is a crisis the response from governments and central banks is going to have to be ever bigger and bigger because the debt is ever bigger. What about 5 years, after a vaccine, and our economy is opened up? What if there is another unexpected crisis? Will they spend 15 trillion, or 20 trillion? 25? It’s a dangerous feedback loop they are in, and it’s entirely of their own making.

I think all long term investors should be thinking about these issues, especially us younger investors with balanced and diversified portfolios. I can’t see how we get out of this mess in the long run.

MF

#68 Ponnaps on 09.24.20 at 4:15 pm

Banks add 2.2% to the policy rate to arrive at the prime rate. This has been the case for like forever..
Why hasnt this number changed? Why dont the banks increase this constant or govt mandate them to do so when rates fall, so people are more fiscally responsible while borrowing.
Would alleviate a lot of the issues we are seeing with real estate ownership..

#69 Dirty Dan on 09.24.20 at 4:17 pm

DELETED.

You are now banned. – Garth

#70 Smartalox on 09.24.20 at 4:18 pm

@Bob #58:

You’re Right!

For the house in 1991:
– $119k
– 20% Down
– 13% interest
Monthly payments (1991 Dollars): $1136.32/mo
Monthly Payments (2020 Dollars): $1863.33/mo

For the house in 2020:
– $599k
– 5% down (CMHC Premium $15 079)
– 2.00% interest
Monthly Payments in 2020 dollars: $2497.05/mo

Note: if 20% down payment instead of 5% on the 2020 house, the monthly is $2049.76.

Interestingly, if the buyers of the house in 2020 were to negotiate for a 10% reduction in price, to ($544 545) and at the same terms, the 2020 monthly mortgage payment would be $1865 – about equivalent to the value of the dollars what paid in 1991.

This suggests that the house is only overvalued by 10% at that price!

#71 kc on 09.24.20 at 4:19 pm

Hi Garth,

Just wondering how much longer your blog will be allowed to operate? Think back to the DOS attacks when Harper got pissed off with you years back. and here we are years later beating on what is or isn’t true about whats wrong in our political system, and an open discussion about a bullsh!t virus to keep the population in control. And here facebook and twitter are trying to become the voice of truths… LOL ya right.

keep up the good fight garth.

cheers and thank you

#72 Barb on 09.24.20 at 4:20 pm

Muni govts had unfunded pensions (liability) for ages, I heard re BC.

#73 kc on 09.24.20 at 4:22 pm

63 yvr_lurker on 09.24.20 at 4:01 pm

What is going on now in Strathcona park in YVR and the city simpy ignoring the effect on the tax-paying citizens trying to raise families and living near there is, frankly, appaling.

XXXXX

simple fix… build a 10 foot fence all around the park and let the strongest survive…. it will end of all tent city problems

#74 45north on 09.24.20 at 4:23 pm

Was the bond market surprised when Mr. Socks let it be known federal spending was just getting going? That the estimated $380-billion annual deficit was, well, merely a starting point?
Nah.

I’m reading a book The Monuments Men by Robert M Edsel

It’s the story of the Monuments, Fine Arts and Archives (MFAA) section of the Allied war effort during the Second World War. The goal of the MFAA was to find and preserve as much of the art treasures of Europe as possible. The men of the MFAA were soldiers in the Allied armed forces. The book touches on two men who were not in the MFAA. Jacques Jaujard, director of the French National Museums was of course a Frenchman. Count Franz von Wolff-Metternich a German Nazi. These two men worked for years under Nazi occupation, making great efforts and taking great risks to preserve the art treasures of France.

I draw a parallel with Garth’s efforts to preserve fiscal sanity. I think that right now we’re in the occupation stage. The Federal Government is under the control of idiots. Idiots is the most charitable interpretation. I don’t think the war is going to be won or lost in a single election but it’s a drawn-out struggle. That’s going to take years.

#75 belly rubs on 09.24.20 at 4:28 pm

#15 Sunnyways on 09.24.20 at 11:54 am
….They believe they can regulate intimate human to human interaction. They clearly hold themselves up as god like figures.
Most Canadians are OK with this and it is heart breaking.
What exactly did my grandfathers generation accomplish fighting and winning WW2 if this is the eventual outcome? What a big waste of time and life that whole charade turned out to be.

Perceptions. Not much has changed in this neck of the woods (rural, agri, deadend road). I’ve been wearing a dust mask forever. We still plow and grade our own roads, and periodically boot the beaver downstream. Most of the rules affect people living in the run down parts, south of 51°. Canada is a big place. Lots of trees to pee on.

I do like how you described the government mesh overlay. Funny, how they don’t teach much about self reliance in schools.

#76 Brian Ripley on 09.24.20 at 4:39 pm

“We are so drugged on debt.” Garth

My Household Debt chart with Net Trade, GDP and Federal Direct Investment plots is published with recent data:
http://www.chpc.biz/household-debt.html

The widening spread between total household debt and household mortgages means we are borrowing even more to maintain lifestyle.

Foreign Direct Investment OUT higher than IN over the last 20 years means Canadian companies are investing outside of Canada to get a better return on Capital and Labour. For every $1 of investment coming in to Canada, $1.43 leaves (full year 2019 data).

The chronic negative Canadian Balance of Trade means that OUR debt obligations continue to provide more stimulus to offshore than onshore producers.​ Net Trade has been negative for 22 out of the last 23 quarters (7.7 years)

On the same page I have added a new StatCan chart on the % Share of Wealth by Generation. The pre 1946-ers are out of the picture and the Boomers are following suit. Gen X-ers and Millennials, it’s your turn to take over the reins. I suggest Tax Reform and Electoral Reform should be the first task that your cohorts should tackle.

#77 crowdedelevatorfartz on 09.24.20 at 4:43 pm

@#9 Sail Away
“hire dogwalker for daily poop on Ponzie’s lawn? so many options…”

++++
I’m not sure if I’m that regular but I’m willing to work as a dogwalker.

#78 Don't Believe The Hype on 09.24.20 at 4:47 pm

Girlfriend and I have been house hunting in Ottawa all summer. Nothing fancy: just looking for a single detached in a quiet neighbourhood with low traffic in the South or West part of town, 2-car garage, finished basement and decent backyard. Our focus is in 3 neighbourhoods in the city.

Last year, such houses were selling at around $650K-$750K. We saw 5 or 6 houses that we really REALLY liked but they all sold at least $125K over asking. We refuse to get into a bidding war given the uncertainty in the economy next year.

This gem in Kanata (west of the city) sold in one day on Sept 23rd for $188K over asking of $599,900:
https://www.redfin.ca/on/ottawa/67-Young-s-Farm-Way-K2L-4C4/home/149925819

And this one in a golf community south of the city sold for >gulp< $605K over asking of $1.395M!
https://www.redfin.ca/on/ottawa/6202-Pebblewoods-Dr-K4P-0A1/home/151481427

FOMO in full effect.

#79 Lambchop on 09.24.20 at 4:47 pm

63 yvr_lurker on 09.24.20 at 4:01 pm
#28 Don Guillermo

https://nypost.com/2020/06/27/san-franciscos-failed-experiment-of-homeless-hotels-is-a-cautionary-tale/

———–
I fully expect that something similar will happen in BC with the Gov’t buying hotels to house the homeless. It seems to be that the foremost problem is the drug addiction. Having better digs to continue unabated with the addiction is only going to lead (for many) to trashed hotel rooms etc. What is going on now in Strathcona park in YVR and the city simpy ignoring the effect on the tax-paying citizens trying to raise families and living near there is, frankly, appaling. I don’t know what the answer is, but somehow focusing on the core addiction and cutting down the illicit supply of drugs coming in seems like a better way forward. However, seems like a quagmire all around.

___________

I don’t know what the political motives are with this problem, but I’ve always felt that it’s more of a mental health issue, more-so than a drug problem or homeless problem. Most addicts need mental health support. The drugs come after, or in conjunction with, the mental illness, followed by homelessness.

Someone who is in addiction can not usually make correct decisions for themselves. I believe it’s time to give up on this pc model and go back to 72 hour commitments. At the very least, it can give an addict a safe place to detox and make a better decision, or escape their abuser. If they decide to go back to the street and drugs, nothing has been lost that wasn’t already.

In BC, several years ago, the mayor of Coquitlam offered to split the bill with the province to renovate and re-open Riverview mental hospital, in an effort to tackle the problem. The province declined. Why?

Mayor Helps in Victoria wanted to use the Empress (!!!) hotel to house the homeless. Is she out of her mind? Maybe she needs to go spend a few hours in a homeless camp without any security detail, to see why that’s a terrible idea.

It happened slowly, but the government has definitely shifted the costs of housing the mentally ill onto communities by just not having any services available, except free drugs and paraphernalia. It’s ridiculous and it helps exactly nobody.

#80 Pharmacare on 09.24.20 at 4:58 pm

Garth, I agree with all of what you say – except for Pharmacare. Coming from Australia that has had it forever – it was very strange to move to Canada, then having to rely on for-profit insurance companies to fill a script at a decent price. AS LONG AS YOUR MONTHLY DUES ARE PAID. Seriously, you got this one wrong. Pharamcare helps people more than you realise. I’d even pay more tax for it. You can’t knock it until you try it.

#81 devore on 09.24.20 at 5:00 pm

#27 DLTINC

The problem with that line of thinking is, has been, and always will be: who decides what the societal greater good is? Who decides who the winners are? Who decides who the losers are? Who decides who should pay how much to whom? That’s why this method never worked, and will never work.

#82 Alice Cooper on 09.24.20 at 5:07 pm

#10 willworkforpickles

FOMOmania Now
“I’m caught in a dream…so what, you don’t know what I’m goin through”

Could not let you sneak that one by me.

Well I’m runnin’ through the world with a gun in my back tryin’ to catch a ride in a cadillac
Thought that I was livin’ but you can’t really tell been tryin’ to get away from that success smell
You know I need a houseboat and I need a plane I need a butler and a trip to Spain
I need everything the world owes me I tell that to myself and I agree
I’m caught in a dream so what you don’t know what I’m goin’ through
I’m right in between so I’ll I’ll just play along with you
Well I’m runnin’ through the world with a gun in my back tryin’ to catch a ride in that cadillac
Thought I was livin’ but you can’t never tell what I thought was heaven turned out to be hell
Whoa whoa when you see me with a smile on my face
Whoa whoa then you’ll know I’m a mental case whoa whoa whoa whoa whoa whoa
I’m caught in a dream so what I don’t know what I’m going through
I’m right in between so I’ll I’ll just play along with you

#83 Pharamcare_pt2 on 09.24.20 at 5:08 pm

Have a read of a Canadians doctors experience in Australia. Its simply not humane to restrict peoples access to medication based on income. Canada can, and should – do better. https://www.thestar.com/opinion/commentary/2017/08/31/australia-proves-national-drug-plan-is-possible-for-canada.html

#84 YouKnowWho on 09.24.20 at 5:24 pm

FYI – some basic math on COVID antibody tests.

The accuracy of even these tests depends on the percentage of people in the population who have actually been exposed to the virus. For example, in a population where the prevalence of infection is 5%, a test with 95% specificity and 95% sensitivity will return the same number of false positives as true positives, making any individual result no more useful than the flip of a coin.

…further…

The researchers found that the sensitivity (the proportion of the people who have had COVID-19 that the test can detect) of antibody testing is very closely related to when the test is performed. Tests of the IgG and IgM antibodies at 8 to 14 days after onset of symptoms correctly identified only 70% of people who had COVID-19. However, when the researchers looked at data reported at between 15 and 35 days after symptoms first began, antibody tests accurately detected over 90% of people with COVID-19. There are insufficient studies to estimate the sensitivity of antibody tests beyond 35 days after the beginning of symptoms. The tests only wrongly diagnosed COVID-19 in 1% to 2% of people without COVID-19.

To illustrate what these accuracy figures mean, in a sample of 1000 people where 200 people (20%) really have COVID-19, typical of workers in a hospital setting where COVID-19 patients have been treated:

193 people would receive a positive test result but 10 (5%) of those people would not have COVID-19 (known as a false positive result);
807 people would receive a negative test result but 17 (2%) of those people would have COVID-19 (known as false negative result).

#85 No Mortgage Deferral Cliff on 09.24.20 at 5:25 pm

It has become abundantly clear that the price increases are here to stay given the correlation between prices and interest rates. In yesterday’s Throne Speech, the government made it very clear that they will extend the business wage subsidy till next summer and transition to CERB lite (a couple hundred less a month). That means people will keep their jobs and their houses – and will keep throwing cash into their savings account (a 28% savings rates now from a negative rate), buying toys like boats and hot tubs, renovating their homes, and living large on deficits financing.

The best thing was to buy a house during the pandemic. The next best thing is to buy now, as the Central Banks have told you that they will not increase rates and the feds have told you that they have your back. When money is less than the cost inflation, and rents and prices have gone up everywhere outside of the core, there is no reason to rent. Besides renting with a family is the worse thing you can do as its only a matter of time before you have to move, and the savings from renting vs buying a peanuts compared to leveraged real estate gains. Its literally being penny wise and pound foolish.

The threat of rising interest rates has been a boogeyman for over a decade, and will continue to be one. Those who rented and invested have lost out to those they leveraged meagre down payments into houses. The wealth divided between the renters and owners just hit a new high during a pandemic.

There is no mortgage deferral cliff. Properties are flying off the shelf and Spring will be even hotter. People here overestimate the financial literacy of people – because 99% have none. Being the contrarian in housing has led people to be slaughtered while following the real-estate buying herd has earned you once in a lifetime real estate gains. Period.

Evan Sidall boldly predicted a 9-18% decline in prices. Instead, prices have gone up 15% or more. In order for him to be correct now, prices have fall 30% after the run up for him to be correct. And that would constitute a crash – which no one stands by, even on this blog.

Real estate has been the only means of wealth generation for the masses, far outstripping meagre portfolio gains on un-leveraged funding. Period. And this that have bought have enjoyed the peace and security that ownership brings for a family.

The realtor spin. You did okay until the part about ‘meagre’ investment gains (untrue) and the implication only a house can bring ‘peace and security.’ It’s emotionalism like that which gets people into a debt spiral. That is crap. Home ownership is not a one-size-fits-all asset. – Garth

#86 Sail Away on 09.24.20 at 5:38 pm

#77 crowdedelevatorfartz on 09.24.20 at 4:43 pm
@#9 Sail Away

“hire dogwalker for daily poop on Ponzie’s lawn? so many options…”

————-

I’m not sure if I’m that regular but I’m willing to work as a dogwalker.

————-

Clandestine scattering of previously collected droppings is absolutely acceptable. $10/drop, $3,650/year. Good side hustle.

#87 Moonshine on 09.24.20 at 5:39 pm

garth, you should create your own balanced etf’s. Turner investments etf’s. it sounds good…

#88 Linda on 09.24.20 at 5:45 pm

Regarding Ontario permitting employers a pension contribution holiday – Ontario today, nationally tomorrow? This illustrates the entire issue with escalating debt & a stalling economy. Many will think ‘so what?’ regarding the pension contribution holiday. They will say ‘we need $ now, we will worry about our pension $ once this is over’. Or think ‘there is time to catch up’.

So think about this. Pension holidays et. al are robbing your future. If you think life is tough now, when you are still presumably of sound mind/body & able to work, just imagine what it will be like however many years from now when your ability to keep up physically, mentally or (heaven help you) – both – has diminished or gone entirely. When having a pension, however small, is a lifeline you could really use but is no longer available because of said contribution holiday.

What’s that you say? The government will provide? Would that be the same government that is racking up so much debt to provide ponies for all today that the only thing left for the future are the meadow muffins?

Oh well, take heart. With any luck you won’t make it to impoverished geezerhood. Covid or some other virus will finish you off long before you need worry about your so called golden years. Party on!

#89 Stan Brooks on 09.24.20 at 5:45 pm

https://www.ai-cio.com/news/fed-will-trigger-hot-running-inflation-druckenmiller-warns/

The Fed Will Trigger Hot-Running Inflation, Druckenmiller Warns
In four years or so, due to loose monetary policy, the CPI will be jumping by 5% to 10%, the renowned financier says.

We are really talking about 10 % CPI that translates to 20 % + cost of living increases in US, read 25 % + here with rates stuck at zero.

Have fun kids.

Cheers,

#90 George on 09.24.20 at 5:46 pm

“While we’re still dealing with this pandemic, I don’t want you — or your parent, or your friend — to take on debt that your government can better shoulder,” Trudeau said.

……….

lol, serious question: how can anyone vote for this guy?
why is he still in power?

#91 C V on 09.24.20 at 5:48 pm

@ 85 No mortgage Deferral Cliff

Mortgage deferrals are just ending now, so it would be inaccurate to say that there won’t be one. Not only that but you are also suffering from recent bias in stating that real estate is by far the better investment. NOT ONLY THAT but you are also basing a financial decision or opinion on a fluffy throne speech indicating a fantasy that the government controls interest rates

#92 Penny Henny on 09.24.20 at 5:48 pm

Hey Ace Goodheart, why do you also post as Youknowwho?

#93 The real Kip (Ret) on 09.24.20 at 5:52 pm

I knew Evan Siddall’s 20% real estate crash would not materialize. Evan should shut his pie-hole lesr he wind up on CERB.

#94 Stan Brooks on 09.24.20 at 6:01 pm

Priced as a small crappy 1 bedroom condo in North York:

https://www.green-acres.fr/en/properties/9023a-793.htm?utm_campaign=Criteo%20Anglais%20Int%20RT&utm_source=criteort&utm_medium=banner

#95 The Spectre on 09.24.20 at 6:11 pm

Ryan recently accounted for $500bi deficit JUST for the Trudeau family but the way things are going… Oh boy, let me take some fresh air…

The Trudeaus, a TRILLION DOLLAR family.

What a disaster

#96 Buck Turgeson on 09.24.20 at 6:15 pm

#79 Lambchop… I was working in the east end of Vancouver with the local population all through the 80s 90s and 2000s… I saw first hand the result of the closing of Riverview. Tons of mentally ill patients released to the streets with improper assistance for them.The majority had D and or A addictions to accompany mental issues. They became predators or they became prey. I don’t have all the answers certainly , but I can tell you a large centre to house and treat all these people properly funded would go a very long way to dealing with this social nightmare.

#97 Ponzius Pilatus on 09.24.20 at 6:15 pm

#47 TN
“”Sportsnet has confirmed Game 1 of the Stanley Cup Final between the Stars and the Lightning drew an average audience of only 1.081 million on Saturday night. In Game 2, on Monday night, the audience shrank to 841,000.”

Brutal numbers for what is supposed to be must see TV.”
————-
Too bad.
Hockey fans are missing some damn good hockey.
Why would I care how many people are watching?

#98 Rural Rick on 09.24.20 at 6:16 pm

If you want to know what the big problem with services for addiction are. It’s this as said to me by a mother of an addict. “If an addict has a moment of clarity where they realize it’s time to get off the merry go round. They have to wait 3 months to be admitted to a program. If they could do that they wouldn’t need the service.”

#99 Tony on 09.24.20 at 6:17 pm

Liberals: leave debt to our grandkids
Conservatives: leave an inhabitable Earth to our grandkids

Glad that I don’t have kids!

#100 TurnerNation on 09.24.20 at 6:18 pm

T2/UN also is bribing us with freebies as they drop the hammer – and sickle – onto us.
Aka:

Jug Up
What inmates call the snack and beverage they receive before before lock up. Usually consists of: tea, juice, muffins etc.

“Hey officer, what’s for jug up tonight?

#101 Insufferable Tyler on 09.24.20 at 6:19 pm

Garth I’m a pension actuary. Trust me, very, very few
Ontario employers will stop making contributions into the DB plans. The conditions that come with it basically render the whole thing useless.

#102 dogwhistle on 09.24.20 at 6:25 pm

#11 Sail Away on 09.24.20 at 11:45 am
Us opportunists are loving it.

Just sold the Shaughnessy SFD. Bought $900k in 2009, rented out for 6 years then used it for family business and friends, spent $300k total in renos and upkeep, sold $2.8M 2020.

Good investment. End of fiscal is September, so current corp tax on cap gains and loads of cash to deal with.

hmmm… what to do, what to do? offshore? loan to active engineering corp? re-invest in RE? hire dogwalker for daily poop on Ponzie’s lawn? so many options…

———————————————–

How about paying back the corporate CERB you’ve been taking so openly? L.O.L

#103 Ponzius Pilatus on 09.24.20 at 6:26 pm

#61 you know what?

Meanwhile, Swansea Public School has a positive case. Kids are isolating. I saw a bunch of kindergarten kids play in a fenced off front yard for isolation playing – PUSH THE SCHOOL! I kid you not. I took a photo of a bunch of kindergarten kids with both hands on the wall, legs spread out like a mass protest arrest, trying to “PUSH THE SCHOOL”, this is the play time these kids have. Masks on. Lined up. Told to go back in line because one kid didn’t follow in line. So sad.
—————–
An elderly man taking pictures of kindergarten kids.
You’re lucky they did not call the cops.

#104 Wrk.dover on 09.24.20 at 6:30 pm

#193 meslippery on 09.24.20 at 12:54 pm
#189 Mattl
Labour is impossible to find and the guy doing site cleanup is 20+ an hour.
————-
Reddy mix concrete drivers average pay $24.40 but it was $20.00 in 1985
That’s maybe way labour is impossible to find.

https://www.payscale.com/research/CA/Job=Concrete_Mixer_Truck_Driver/Hourly_Rate

——————————————

You can’t make money, making money.

Thus, trudeau being re-electable.

What was a rat race in the more populated areas is now a rat infestation. Competition has deceased.

#105 Shirl Clarts on 09.24.20 at 6:37 pm

#85 No Mortgage Deferral Cliff on 09.24.20 at 5:25 pm
^^^^^^^^^^^^^^
Wow! Garth actually took the time to read all of that, and provide a multi-sentence response!!!

HE LOOKED RIGHT AT ME!!! WHAT A LOVELY DAY!
https://www.youtube.com/watch?v=z0gGWRnoFDI

#106 Ponzius Pilatus on 09.24.20 at 6:41 pm

#77 crowdedelevatorfartz on 09.24.20 at 4:43 pm
@#9 Sail Away
“hire dogwalker for daily poop on Ponzie’s lawn? so many options…”

++++
I’m not sure if I’m that regular but I’m willing to work as a dogwalker.
———-
HaHa.
Any which way, my SS Stormtroopers are ready.

#107 Quintilian on 09.24.20 at 6:43 pm

>Real estate has been the only means of wealth generation for the masses, far outstripping meagre portfolio gains on un-leveraged funding.<

Too bad for the RE cartel.

The pool of greater fools is replenished from the “masses” who will soon have no one to sell to.

Ponzi schemes only work if there is a constant flow of new entrants.

#108 Howard on 09.24.20 at 6:46 pm

#83 Pharamcare_pt2 on 09.24.20 at 5:08 pm
Have a read of a Canadians doctors experience in Australia. Its simply not humane to restrict peoples access to medication based on income. Canada can, and should – do better. https://www.thestar.com/opinion/commentary/2017/08/31/australia-proves-national-drug-plan-is-possible-for-canada.html

————————————-

Will this be another program that net non-taxpayers get for free while net taxpayers are means-tested out of it and have to pay full price? I assume yes?

#109 Long-Time Lurker on 09.24.20 at 6:54 pm

Zoolander 3, script update.

At 24 Sussex Drive, preparing the Throne Speech.

PM Zoolander, thinking to himself: “I need to get re-elected. I need to buy votes. I need to spend more money.”

Chrystia Peron walks in and says: “The country’s a mess. What are we going to do?”

PMZ: “We need to spend more money to help Canadians.”

CP: “Yes, but how do we pay for it?”

PMZ: “We’ll worry about that later. The budget will balance itself.”

#110 willworkforpickles on 09.24.20 at 6:57 pm

#82 Alice Cooper
….gotta love it….love it to death…

#111 Howard on 09.24.20 at 6:57 pm

#49 Ace Goodheart on 09.24.20 at 2:36 pm

In Canada, people with employment and assets began planning for how to live their lives as tax refugees.

——————————

Any Canadian with talent and drive should follow the guidance of Nomad Capitalist : https://www.youtube.com/channel/UC3k3floOm_HtKOv0l6JU-xQ

Get out of Canada and secure a second passport before El Presidente Banana Republica in Ottawa begins to charge a $100K emigration fee.

#112 FreeBird on 09.24.20 at 7:09 pm

How many are relying on govts (who handle money so well) to take care of them now and in the future? No strings or costs attached of course. How many hedging their bets the other way by taking advice like Garth’s? Just in case.

#113 Drinking on 09.24.20 at 7:16 pm

Good article today Garth’ gotta know when to hold them and when to fold them; with T2 around I agree with you; we have a year to make more after that I am out! Cash is King for these events; invest and get out when the time is right! We all know what is coming….

#114 Asterix1 on 09.24.20 at 7:22 pm

First time home buyers are gone. REMarket can’t breath or live without that oxygen!

Low rates won’t change that. High prices, Recession and stagnant salaries has cut the cord!

#115 crowdedelevatorfartz on 09.24.20 at 7:22 pm

@#112 Howard
“…before El Presidente Banana Republica in Ottawa begins to charge a $100K emigration fee…”

+++++
Sa-a-a-a-ayyyyy.
You might be on to something.
If all the rich people and house owning Boomers paid 100k to leave……

All the Flying Millennials would wing back to OZttawa to celebrate…..until next tax year was unleashed upon them by the Evil Tax Queen ….
Hitting them like the merciless, unholy wrath of God.

#116 Sydneysider on 09.24.20 at 7:25 pm

#84 YouKnowWho

What you might also have mentioned is that of the total tests performed in Canada so far, around 2.3% have tested positive. So what the real number of infections (vs false positives) may be one can only guess.

https://www.statista.com/statistics/1107034/covid19-cases-deaths-tests-canada/

This problem is likely why Health Canada is stalling over approval of tests. Heads will roll if real scientists later challenge a test to experimental verification.

#117 Midnights on 09.24.20 at 7:25 pm

40,000 per family, OMG.
https://youtu.be/0WdVnRLAvRQ

Listen to this. Everybody. – Garth

#118 Keyboard Smasher on 09.24.20 at 7:30 pm

DELETED

#119 Sail Away on 09.24.20 at 7:33 pm

#103 dogwhistle on 09.24.20 at 6:25 pm
#11 Sail Away on 09.24.20 at 11:45 am

Us opportunists are loving it.

Just sold the Shaughnessy SFD. Bought $900k in 2009, rented out for 6 years then used it for family business and friends, spent $300k total in renos and upkeep, sold $2.8M 2020.

Good investment. End of fiscal is September, so current corp tax on cap gains and loads of cash to deal with.

hmmm… what to do, what to do? offshore? loan to active engineering corp? re-invest in RE? hire dogwalker for daily poop on Ponzie’s lawn? so many options…

—————-

How about paying back the corporate CERB you’ve been taking so openly? L.O.L

—————-

No problem. But I’ll have to layoff staff that have been kept employed by the wage subsidy.

Send me your contact info so their families can extend gratitude in person.

#120 Huh? on 09.24.20 at 7:41 pm

#40 T on 09.24.20 at 1:59 pm
#18 Huh? on 09.24.20 at 12:00 pm
Let me get this straight… government inflated real estate bad, government inflated stock markets good.

Got it.

————

Non-productive vs productive assets.

Get that.

————————–

Manipulation is manipulation…or is that too complicated for you?

People don’t buy ETFs with 20x leverage. Comparisons are puerile. – Garth

#121 Catalyst on 09.24.20 at 7:43 pm

Garth – weren’t you pumping Evan’s tires here on 18% drop the other day. I told you it wouldn’t happen. Only took him two weeks to walk back his forecast. His worst case scenario would now take us back 9% which would roll us back to sayyy Feb 2020.

https://www.bnnbloomberg.ca/housing-market-has-averted-worst-case-scenario-but-prices-still-likely-to-fall-cmhc-ceo-1.1498968

Recency bias is a bitch. – Garth

#122 Alphonse Kehaulic on 09.24.20 at 7:47 pm

Re TurnerNation:
“Sportsnet has confirmed Game 1 of the Stanley Cup Final between the Stars and the Lightning . . .”

Of course it’s the Stars and Lightning. Occultic much? LOL at all this mockery.

Just 2 more weeks (weaks) people. We PROMISE!

#123 Millennial Realist on 09.24.20 at 7:50 pm

Change is coming.

Be part of it.

Or be run over by it.

#124 MF on 09.24.20 at 7:57 pm

2 Howard on 09.24.20 at 6:57 pm

So you mean run like a coward the second a politician says something you poo poo?

By the end of the year you might circle the globe and have many passports.

And imo lots of irony from a guy who went to France.

MF

#125 WTF on 09.24.20 at 8:01 pm

#41 09/23 “@#2 Millenial Delusionist
“A 100 thousand tonne freight train is barreling right at you.”
+++

Is that train loaded with coal or oil….?
—————————————————————–Like all good enviro warriors he/she/er/ger/whatever. Their main bugbear is evil Oil.

Meanwhile the MILE LONG Coal Trains rumble to Roberts Bank unfettered by the cabal of unemployed professional malcontents screaming, setting fires, and otherwise avoiding actual work cause they have a planet to fix.

Never Mind Coal is 10x worse than oil. and its going to China the largest contributor of GGas, producing 30% of the planet’s emissions.

Fortunately, Canada, contributing 1% of emissions has PM Breathless looking at new ways to self flagellate whilst gravely informing the unwashed that Christmas MAY be possible, he will let us know.

Praise Dog we have such wise Leaders and citizens who apparently like spending other peoples $ to fix problems that substantively lie elsewhere.

#126 Two-thirds on 09.24.20 at 8:08 pm

Obviously, you have yet to grasp the new brave world reality:

– Debt is wealth

– Freedom (financial) is slavery

– Equality is unequal (for the majority)

Maybe it is time to admit that we lost and…

Love the tentacle!!

#127 kc on 09.24.20 at 8:11 pm

118 Midnights on 09.24.20 at 7:25 pm

40,000 per family, OMG.
https://youtu.be/0WdVnRLAvRQ

Listen to this. Everybody. – Garth

XXXXXXXXX

This guy gets my vote if he was in my riding…. nailed it!!!

#128 Steven Rowlandson on 09.24.20 at 8:16 pm

Can you say Weimar Canuckistan?
I thought you could…

#129 YouKnowWho on 09.24.20 at 8:24 pm

How about that safe western vaccine?

https://arstechnica.com/science/2020/09/trump-may-reject-fdas-stricter-regulations-for-covid-19-vaccine/

#130 I love commuting on 09.24.20 at 8:29 pm

By the way, did you see Ontario is now allowing employers (effective next week) to skip making contributions to their defined-benefit pension plans?

If people had any clue about how pensions work and how interest rates affect the calculation of their pension value, they would most certainly take the commuted value. In general, the commuted value increases as the 5 yr CDN gov’t bond decreases, like a lever.

You could walk away with more money than you could have ever expected as a result of the “unprecedented” low interest rates.

But most people won’t due to FEAR and IGNORANCE.
They are fearful that they will make a mistake by not taking their pension.
They are a fearful of managing a 7 figure portfolio if they did commute it.
They are ignorant of just how phenomenal and life changing a commuted value would be compared to taking the pension.
Women fear instability and the unknown; men fear the wrath of their wives. Both will choose the status quo and tow the line and playing it safe.

Your pension plan will NOT recommend this option to you since it is not in their best interest. They would prefer that you take the pension and that you and your spouse die together in a fiery car accident shortly thereafter. Then they get to keep the majority of YOUR hard earned money. When you commute your pension, you are taking funds out of the pension plan that can never again be used by them, putting them even further in the whole. They don’t like that but are required by law to provide that option. They now need to take on more risk just to keep the plan fully funded, which most weren’t even before 2020.

If everyone that was retiring started taking their commuted value, the pension would surely start going into the red more than it is right now. Just do the math. When these plans were created, they were designed on the premise that interest rates would never go this low.

When lady luck knocks, you need to answer the call. I did.

#131 mnpr on 09.24.20 at 8:32 pm

#11 Sail Away on 09.24.20 at 11:45 am
Us opportunists are loving it.

———————————-

I, for one, do not believe you are the real Sail Away. He was too smart to make such as obvious grammatical error like that.

#132 Drinking on 09.24.20 at 8:35 pm

#128 Two-thirds

Nah, we have not lost! Be smart and know that this will all crumble within the next two years no matter what that Mill buffoon optimistic but naive posts say. We will not be run over by anything but the people who think like Mill will; it is sad really; stay the course!!

#133 Gravy Train on 09.24.20 at 8:36 pm

#35 kc on 09.24.20 at 1:16 pm
“AHHH another person who is waking up to the whole scam of this (covid crap)” Let me simplify the relevant facts for you: COVID-19 is now the third leading cause of death in the U.S., and there are no signs of it letting up. Get it now, dumbass?
https://www.cdc.gov/nchs/fastats/deaths.htm

#134 not 1st on 09.24.20 at 8:42 pm

Why is everyone being softened up for this non existent 2nd wave? Deaths are way down. Trudeau says we cant gather for thanksgiving or xmas and we should hunker down with our cerb for another 6 months.

We are going to have millions of people conditioned to stay home and beg for govt assistance.

#135 Comrade on 09.24.20 at 8:55 pm

#118 Midnights on 09.24.20 at 7:25 pm

40,000 per family, OMG.
https://youtu.be/0WdVnRLAvRQ

Listen to this. Everybody. – Garth
‐———
So obviously conservatives have intelligent electable candidates. Why they chose O’Toole as a party leader is beyond any comprehension.

#136 Darren Watson on 09.24.20 at 8:58 pm

Garth, I have a question that you will probably not want to answer. Since this Liberal Trudeau, Freeland government is hell bent on drowning the whole nation Canada in red ink, debt, deficits in the trillions, why can’t they just guarantee all new Canada bonds and all new Canada GIC’s with a 3 year guarantee of 8% per annum?

It just seems to me that if most retirees had more money, they would spend it and that is a stimulus to the economy as well. It looks like retirees, savers and responsible Canadians making prudent, financially good decisions are being treated as second class citizens of Canada.

If all current GIC’s

#137 YouKnowWho on 09.24.20 at 8:59 pm

#92 Penny Henny on 09.24.20 at 5:48 pm
Hey Ace Goodheart, why do you also post as Youknowwho?

I’m YouKnowWho. Not the other guy. Posted once as ADPeee, not Goodheart.

#138 Bubacks on 09.24.20 at 9:01 pm

I honestly think we are heading for civil war in the US – Canada will be collateral damage. This has played into the hands of the People’s Republic… don’t tell me this wasn’t their doing… virus and all..

#139 Look at You on 09.24.20 at 9:09 pm

Millennial Realist take some of your meds you forgot to take them all today. You will be swallowing alot more pills under a Trudeau Liberal national pharmacare program(national socialist prescription drug plan). Enjoy.

#140 The Woosh on 09.24.20 at 9:09 pm

#125 Millennial Realist on 09.24.20 at 7:50 pm
Change is coming.

Be part of it.

Or be run over by it.

——————————————————

How about we stand just a little to the side and let you go right by with your change. We’ll step back into traffic once you’ve hit the underpass and have an oggle on the way through while the firefighters scrape you off the asphalt!

#141 The Woosh on 09.24.20 at 9:15 pm

#118 Midnights on 09.24.20 at 7:25 pm
40,000 per family, OMG.
https://youtu.be/0WdVnRLAvRQ

Listen to this. Everybody. – Garth

——————————————

Sure puts it into perspective. That should be the Conservative election ad. 10 minutes of sober reality!

#142 crowdedelevatorfartz on 09.24.20 at 9:18 pm

40,000 per family, OMG.

https://youtu.be/0WdVnRLAvRQ

Listen to this. Everybody. – Garth

++++++

Everyone

Email this to ALL your friends and co workers….
Its brilliant

#143 kc on 09.24.20 at 9:18 pm

135 Gravy Train on 09.24.20 at 8:36 pm

#35 kc on 09.24.20 at 1:16 pm
“AHHH another person who is waking up to the whole scam of this (covid crap)” Let me simplify the relevant facts for you: COVID-19 is now the third leading cause of death in the U.S., and there are no signs of it letting up. Get it now, dumbass?
https://www.cdc.gov/nchs/fastats/deaths.htm

XXXXXXXX

not according to your link its not… and I was in the 2 worst states with no masks and was tested and I am clean…. so guess what?? I still say it is all political and not a real pandemic.

#144 DLT INC on 09.24.20 at 9:22 pm

#27 DLTINC

The problem with that line of thinking is, has been, and always will be: who decides what the societal greater good is? Who decides who the winners are? Who decides who the losers are? Who decides who should pay how much to whom? That’s why this method never worked, and will never work.

In a true democracy, the people decide what the greater good is. The market decides who the winners. All you have to do is compare profits this year with last year. This gives a pretty good idea on how much the winners profited. The CERB calculations will determine who the and how much the losers lost.
Again, in a true democracy, the people decide how much the winners should give up and how much the losers get compensated.
People who think “the market” will solve everything don’t seem to realize just how much the market has been perverted by those with the power to bend it to their advantage.

#145 Party on on 09.24.20 at 9:41 pm

Meh
Just bought a place today after losing 2 bidding wars in past couple months
But this was a bit above the “sweet spot” valuation I guess and got it 50 below asking

Wait 3 years and rent???
Not here. (Small tourist town mid north Ontario)

There are literally like 5 listings and 30 people chasing them. It’s nuts

Anyway not touching investment and hoping November is not a bloodbath

#146 Drinking on 09.24.20 at 9:50 pm

#136 not 1st

True, and that is the key indicator. Deaths do not reflect the current cases but by no means should we let our guards down. Wear the stupid masks as civil duty and just for respect of our elders who are so vulnerable to this, keeps those hands clean and especially finger nails, take your daily dose of Vit D, especially during winter.

Let us just get through this winter and then we can all make a final judgment if this was worth it or not next year, stay safe everyone!

In the mean time, spend less, save more and stay safe..

#147 You know val on 09.24.20 at 9:55 pm

Why do all these politicians look healthy when they have covid

#148 Tired of covid lockdown on 09.24.20 at 10:13 pm

489 doctors in Belgium – balanced view I think

https://docs4opendebate.be/en/open-letter/

#149 Spectacle on 09.24.20 at 10:23 pm

#144 crowdedelevatorfartz on 09.24.20 at 9:18 pm
40,000 per family, OMG.

https://youtu.be/0WdVnRLAvRQ

Listen to this. Everybody. – Garth

++++++

Everyone

Email this to ALL your friends and co workers….
Its brilliant

——
Wow, wow. I have renewed hope that there is intelligence, and capability in Canada !

Thank You Garth, and thanks to Poulivere, I now see the future of and for Canada. The country my family gave their lives for ( mind blowing story of one family member who survived doing so).

Thanks Crowded for forwarding this to us as well.

I am inspired.
Its over for this current destructive circus!!!!

#150 Sail Away on 09.24.20 at 10:23 pm

#133 mnpr on 09.24.20 at 8:32 pm
#11 Sail Away on 09.24.20 at 11:45 am

Us opportunists are loving it.

————–

I, for one, do not believe you are the real Sail Away. He was too smart to make such as obvious grammatical error like that.

————–

I lost some brain cells binge drinking in the penalty box.

#151 Drinking on 09.24.20 at 10:24 pm

#144 crowdedelevatorfartz

I love this guy, he just tells it as it is! O’Toole made a wise choice to include Poillievre in his team!

#152 Huh? on 09.24.20 at 10:25 pm

People don’t buy ETFs with 20x leverage. Comparisons are puerile. – Garth

Government should not be meddling in any free market.

#153 TurnerNation on 09.24.20 at 10:32 pm

Since March been pounding the table that our travel rights are in the target. The shut downs are cover for the New Green deal.

1. From March from another, a quote from a less- pathetic weblog:

“We’re in an experiment. We’re now getting a glimpse of what a high tech, low carbon, limited mobility civilization looks like. The technocrats must be loving this – they’re going to have so much data to analyze after the experiment is over. Other major interest groups will use this experiment to further their agendas …”

2. Here comes the Soft Sell, an “opinion piece”. Say who said the CV words annagram into ‘Carnivore’?
Remember there is longer news only predictive programming.

Real simply they want to control our movement, our breeding and our feeding. As farm animals.
#stayhome right? CV or CC it don’t matter this is it.

Hence the Compliance stage Phase 1 – comply with lockdowns and no rights. Now we are in Phase 2, Programming -especially the children. Hey this is 100% proven methodology. It works.

https://twitter.com/MarketWatch/status/1308959892292726784?
@MarketWatch

OPINION: We may need climate lockdowns to halt climate change, Mariana Mazzucato writes. That might mean governments limiting private vehicle use, banning consumption of red meat, etc. We must do capitalism differently to avoid that.
———————

3. From last September, Jan. I knew it was coming, saw the major advertising bucks appear our of nowhere for ‘go vegan’ campaigns. Who paid for all that?

#49 TurnerNation on 09.10.19 at 8:54 pm
(I beleive in my lifetime good foodstuffs will be trashed as armed men look on and people are starving. Maybe the correct karbon permit was not applied for, or the WHO claims dread disease and we comply. Trees have more rights than yourself.)
….
#102 TurnerNation on 02.01.20 at 11:17 am
Well folks I’ve been suggesting to Watchout, that 2020-2021 they will be ramping up world chaos like crazy.

I called this pandemic it’s just a great system of control for our elites With the stroke of a pen…:

By the dawn’s early light — Greater Fool – Authored by Garth …
Oct 4, 2019 – I’ve said it many time, we will see soon armed government men destroying perfectly good foodstuffs. We’ll be told it;s a WHO directive to keep …


Dec 1, 2019 – I always said a day will come here whereby armed government men destroy foodstuffs or kick people out of perfectly good homes. Maybe they …

#154 Fortune500 on 09.24.20 at 10:38 pm

I love this blog. I respect Garth like a beloved if sometimes crazy uncle. But I would warn younger millennials and Gen Zs … be careful waiting for a lower entry point. For many of us who have followed this blog since 2008, it has never come. Only leaps ahead, that even with a well diversified portfolio, have just not kept up. Now we are watching small town rural areas all the way to the East Coast going up like the rest of the country did.

That is not to say that home prices MAY finally, one day crash or dip, but 12 years is a lifetime to a young family raising kids etc. You may very well wait past the point of reasonable return. Especially if you had plans to raise kids in a house with a yard, or acreage or more than two bedrooms …

#155 TurnerNation on 09.24.20 at 10:39 pm

#1 Blake on 09.24.20 at 10:45 am the Pension funds own a ton of infrastructure, Airports, train stations, you know all the empty places now.

#156 Spectacle on 09.24.20 at 10:42 pm

125 Millennial Realist on 09.24.20 at 7:50 pm
Change is coming.

Be part of it.

Or be run over
————————-
Seriously, time to drone something else.

I dont know you, but I ( as well as others perhaps on here) see you as an empty, slogan dropping , $5. Starbucks spiced low fat, avacado toast ordering troll.

Please raise the bar, you can do it. I hope you can.
Be the windshield, not the bug….

Be a positive contribution here! The change you speak of, is our current communist loving, Soros loving puppets. That is destroying Canada. Now be a part of the change Canada needs so desperately now. You can do it, be an influence representing the millenial cohort.

#157 Ponzius Pilatus on 09.24.20 at 10:51 pm

#73 kc on 09.24.20 at 4:22 pm
63 yvr_lurker on 09.24.20 at 4:01 pm

What is going on now in Strathcona park in YVR and the city simpy ignoring the effect on the tax-paying citizens trying to raise families and living near there is, frankly, appaling.

XXXXX

simple fix… build a 10 foot fence all around the park and let the strongest survive…. it will end of all tent city problems
————-
Simple fix?
That’s what the Nazis said.
Remembrance Day is coming up.
The Veterans died fighting against the bigotry that you’re spouting.

#158 millmech on 09.24.20 at 11:00 pm

#85
Got called in to cover a shift today, double time so today paid my housing cost for October, tomorrow double time again for another missed shift so that covers all the Octobers living expenses.
Being a renter has given me the opportunity to build a portfolio that pays over 6k a month every month, does your house pay you that?
Peace of mind is priceless(actually about 6k/month to be honest)

#159 YouKnowWho on 09.24.20 at 11:10 pm

#117 Sydneysider

See the update? 54K backlog. When they clear it, it will give the numbers a boost.

I wonder if they are pooling the serology tests? As in putting 100 or 1000 samples into a single lab effort, and then if the pooled sample comes positive they apply an algorithm or retest individual sample.

Also, now you have to have symptoms.

Finally, shut down push is coming. Sucks to be a small business, unless you sell booze.

#160 Victor V on 09.24.20 at 11:38 pm

Mississauga homeowner told to pay $22K penalty for breaking mortgage

https://toronto.ctvnews.ca/mobile/mississauga-homeowner-told-to-pay-22k-penalty-for-breaking-mortgage-1.5119161

#161 Ace Goodheart on 09.24.20 at 11:40 pm

RE: #92 Penny Henny on 09.24.20 at 5:48 pm

Hey Ace Goodheart, why do you also post as Youknowwho?

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

I don’t.

No idea who Youknowwho is.

But it is not me.

#162 Ponzius Pilatus on 09.25.20 at 12:36 am

Just watching
The Civil War a film by Ken Burns.
Fascinating.
To understand the America of today, you have to study the Civil war.

#163 willworkforpickles on 09.25.20 at 4:27 am

This is an important point about the virus lots know of already, but many among the masses yet do not.

https://theconversation.com/cloth-masks-do-protect-the-wearer-breathing-in-less-coronavirus-means-you-get-less-sick-143726

If the link doesn’t work…highlight it then drag and drop to your server to bring it up…most don’t need instruction how to do this either , but all should read this and know of it to prevent serious illness.

…cuts from the article:
-As governments and workplaces began to recommend or mandate mask wearing, my colleagues and I noticed an interesting trend. In places where most people wore masks, those who did get infected seemed dramatically less likely to get severely ill compared to places with less mask-wearing.
-When you wear a mask – even a cloth mask – you typically are exposed to a lower dose of the coronavirus than if you didn’t. Both recent experiments in animal models using coronavirus and nearly a hundred years of viral research show that lower viral doses usually means less severe disease.
-Exposure dose determines severity of disease
-yet still no mask is perfect.

….A serious read…all should read.

The world has changed for good under the current circumstances…this should cause us to be wary of extra distancing even under normal cold and flu seasons.

Regardless of who was already aware of viral dose (viral load) it wasn’t previously considered much or even known among the masses at large…but will eventually become so now.

#164 willworkforpickles on 09.25.20 at 4:43 am

Don’t be surprised to see people to a great extent wearing masks every cold and flu season beyond c19 from now on.
A permanent fixture…sad world…getting sadder.

#165 willworkforpickles on 09.25.20 at 5:13 am

Walked out the door of walgreens yesterday, there was a guy smoking a cigarette about a 100 feet away…could smell the smoke at more than 15 times standard distancing even with the mask still on.
Point being…its not a matter of if we all come down with a bout of covid but when.
All we can do is take the precautions that exist to limit contact time with the virus to limit the level of sickness.

#166 crowdedelevatorfartz on 09.25.20 at 6:06 am

@#125 Millenial Delusionalist

“Change is coming.
Be part of it.
Or be run over by it.”

+++
If I may.

Tax change is coming.
Vote against it
Or be run over by it.

#167 Hannover Xi on 09.25.20 at 6:37 am

“ A Plan B”? What……leaving the country? That’s not news to the many thousands of us who’ve already left. The number of CDN professionals who have left to practice or find new income vehicles would cause the average person to wonder who pays taxes in Canada anymore.

News Flash, it’s not “the rich”, as a majority are gone long ago. It’s you suckers. The rich are banking elsewhere. Trudeau says he’s going to tax the rich, his donors, go fart in a small room.

You’re delirious. It’s you, striving to maintain a lifestyle with debt who’ll pay. Not the 1% and not the 60% who pay no taxes at all because of their income or social status. Trudeaus after you knucklehead.

The specialists, doctors, engineers are being replaced by those who did not receive credentials in the west. The smart ones got pissed at being called thieves. The ones left are already in their sixties .

What’s Plan B?

#168 Chris Campbell on 09.25.20 at 6:56 am

To #11, Mr. Sail Away (opportunist):
With so many options available to you, I recommend purchasing some humility

#169 Where was the adult on 09.25.20 at 7:15 am

Garth,

Was Mr Carney (the Adult) not in the room when all this new spending was planned? I was hopeful that he would explain the numbers. Seems nobody was listening.

#170 Franco on 09.25.20 at 7:41 am

Covid has put the final nail in the coffin of the company pension plan and Doug Ford has seized the moment.
Heck, where I work they took away our measly RRSP contribution that they gave us. It will surely be a new world when this virus is over.

#171 Gravy Train on 09.25.20 at 7:54 am

#145 kc on 09.24.20 at 9:18 pm
“not according to your link its not… and I was in the 2 worst states with no masks and was tested and I am clean…. so guess what?? I still say it is all political and not a real pandemic.” Am I bad!? I assumed you knew how to extrapolate data! Tell me: Do you lick doorknobs and light switches at COVID parties to amuse the other partygoers?

Oh—and here are more articles reporting that COVID-19 is now the third leading cause of death in the U.S., after heart disease and cancer!
https://www.nsc.org/in-the-newsroom/covid-19-on-pace-to-become-third-leading-cause-of-death-in-2020
https://www.webmd.com/lung/news/20200818/covid-the-third-leading-cause-of-death-in-the-us
https://www.healthline.com/health-news/covid-19-third-leading-cause-of-death-in-the-united-states-this-year

Is it all fake news, dumbass? Donald Trump, the epidemiologist-in-chief, has now appointed Dr. Scott Atlas, a neuroradiologist, as White House advisor on coronavirus. He’s reportedly not an immunologist, epidemiologist, serological, infectious-disease expert, or public health expert. Is this just more fake news, dumbass?
https://www.forbes.com/sites/brucelee/2020/09/16/trump-says-with-a-herd-mentality-covid-19-coronavirus-will-go-away/#727968521dde

#172 Proud CERBian on 09.25.20 at 8:06 am

O CERBia,

The True North Strong and Free!

#173 crowdedelevatorfartz on 09.25.20 at 8:22 am

@#164 Ponzies Predictions
“The Civil War a film by Ken Burns.”

******

If Trump is re-elected Ken Burns will have to do another documentary……….. Civil War Redux

#174 Sail Away on 09.25.20 at 8:30 am

#170 Chris Campbell on 09.25.20 at 6:56 am

To #11, Mr. Sail Away (opportunist):
With so many options available to you, I recommend purchasing some humility

—————-

Oh, ok. Here, let me try again:

“I recently sold a house in Vancouver for a profit. What should I do with this good fortune that would assuage my guilt at benefitting when countless unfortunates suffer? Maybe a large donation to the abused Corvid society or to the permanently aggrieved internet posters conclave would help?

Since it would be clearly inappropriate to discuss money or, God forbid, profit, on a real estate financial blog, I humbly request suggestions for a way to convey this information in an inclusive, respectful, race- and gender-neutral manner. Please help.”

Better?

#175 crowdedelevatorfartz on 09.25.20 at 8:36 am

A little late filing your taxes?
Dont worry … the CRA will do it for you.

https://theprovince.com/news/politics/they-already-have-all-the-freaking-information-federal-government-revives-plan-to-file-some-peoples-taxes-for-them

#176 crowdedelevatorfartz on 09.25.20 at 8:37 am

@#176 Sail Away
” I humbly request suggestions for a way to convey this information in an inclusive, respectful, race- and gender-neutral manner. Please help.”

++++

I believe.

“I’m rich and you’re not.”

Is fairly gender inclusive……..

#177 westcdn on 09.25.20 at 8:44 am

My father was a caretaker for a small island owed by Aga Khan. It had a nice house. Dad was given a small tug boat to use – I liked being in the pilot house and my girls too. He would sail away every few days to make sure the house was okay – never seemed to get rented.

It seemed Aga wanted to keep it as a sanctuary and there was a surprising amount of wildlife on it.

The ocean view was inspiring.

#178 Dann Schward on 09.25.20 at 8:56 am

Mr. Turner,
I agree with you in many thing but you are dead wrong with Trump.

Trump 2020!

Your argument is with polls, not me. I have no idea who will win. – Garth

#179 Howard on 09.25.20 at 9:05 am

#126 MF on 09.24.20 at 7:57 pm
2 Howard on 09.24.20 at 6:57 pm

So you mean run like a coward the second a politician says something you poo poo?

By the end of the year you might circle the globe and have many passports.

And imo lots of irony from a guy who went to France.

MF

—————————————

Emigrating is cowardly? Do you tell immigrants to Canada the same thing?

As the Nomad Capitalist (Andrew Henderson) says : go where you’re treated best.

In Canada, the middle class and especially upper middle class are treated by garbage. Dirt under people’s feet. Cash cows to pay for everything while simultaneously means-tested out of benefiting from any of the programs they fund. Using the “go where you’re treated best” philosophy, Canada is a place to escape from.

France – yes, taxes are high, but citizens (ALL citizens) actually get something in return. There is far more universality of benefits than there is in Canada. And in regards to income tax, although the rich pay through the nose in France, the French middle class actually have a lower tax burden than their Canadian counterparts.

Canada is the worst country in the developed world for the taxpaying middle class, bar none. Paradise for the poor, and pretty good for the rich. The latter two groups, naturally, tend to vote Liberal so Trudeau has an incentive to impoverish the middle class thereby forcing them into the ranks of the poor.

#180 Herb on 09.25.20 at 9:07 am

The Canadian Covid-19 Crisis in Perspective:

Population: 37,818,373
Total Covid-19 tests: 6,833,661
Total Cases: 149,094 = 2.1914% of total tests
Recovered Cases: 128,707 = 86.3261% of total cases
Total Deaths: 9,249 = 0.0244% of population

Canadians medically affected by Covid-19:
(Total Cases – Recovered Cases – Deaths) =11,093 or 0.0293% of population
Canadians not medically affected by Covid-19:
(Population – Affected) – 37,807,235 = 99.9706%

(Source: data for 24 September 2020, at https://www.worldometers.info/coronavirus/)

Those are the straight numbers and arithmetic. It takes a lot of misleading statistics, diversion from and distortion of fact, and official and media propaganda to turn this into a medical crisis, an epidemic of national significance, not to mention a global pandemic. Canada, and almost all nations, has done so. Why? To scare the sheep witless in preparation for the shearing. As long as the crisis narrative is believed, there will be no effective resistance.

#181 Sara on 09.25.20 at 9:27 am

#176 Sail Away on 09.25.20 at 8:30 am
#170 Chris Campbell on 09.25.20 at 6:56 am

To #11, Mr. Sail Away (opportunist):
With so many options available to you, I recommend purchasing some humility

—————-

Oh, ok. Here, let me try again:

“I recently sold a house in Vancouver for a profit. What should I do with this good fortune that would assuage my guilt at benefitting when countless unfortunates suffer? Maybe a large donation to the abused Corvid society or to the permanently aggrieved internet posters conclave would help?

Since it would be clearly inappropriate to discuss money or, God forbid, profit, on a real estate financial blog, I humbly request suggestions for a way to convey this information in an inclusive, respectful, race- and gender-neutral manner. Please help.”

Better?

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

Better was when you were banned.

#182 DJ may be retired soon on 09.25.20 at 9:34 am

Insufferable Tyler on 09.24.20 at 6:19 pm
Garth I’m a pension actuary. Trust me, very, very few
Ontario employers will stop making contributions into the DB plans. The conditions that come with it basically render the whole thing useless.
———–
Hi, my company is wrapping up the DB pension next year. Essentially setting my retirement date for me. The latest wrinkle is the new Commuted Value calculations starting Dec /20 may mean my commuted value peaks November 30th this year.
Tyler, as an actuary can recommend any resources to figure this out or comment ?

#183 Ponzius Pilatus on 09.25.20 at 9:44 am

#178 Howard on 09.25.20 at 9:05 am
#126 MF on 09.24.20 at 7:57 pm
2 Howard on 09.24.20 at 6:57 pm

So you mean run like a coward the second a politician says something you poo poo?

By the end of the year you might circle the globe and have many passports.

And imo lots of irony from a guy who went to France.

MF

—————————————

Emigrating is cowardly? Do you tell immigrants to Canada the same thing?
—————-
As far as I’m concerned, many German immigrants to Canada after WW2 took the cowardly way out.
Leaving the mess they helped create behind for others to pay for and clean up.
And then collected German pensions on top.
Sounds like Sailo, does it not.

#184 IHCTD9 on 09.25.20 at 10:00 am

#156 Fortune500 on 09.24.20 at 10:38 pm
I love this blog. I respect Garth like a beloved if sometimes crazy uncle. But I would warn younger millennials and Gen Zs … be careful waiting for a lower entry point. For many of us who have followed this blog since 2008, it has never come. Only leaps ahead, that even with a well diversified portfolio, have just not kept up. Now we are watching small town rural areas all the way to the East Coast going up like the rest of the country did.

___

Some better advice for the kids – now more than ever, your future financial security, and lifestyle could be dictated to you by where you choose to live. Big cities have their plusses, the problem is you’ll be damn near 40 before you start thinking about where you’re headed
owning no assets, and having no savings because the cost of living drains you every month. By then, it’s too late to fix.

I figure to duplicate our rural lifestyle in the GTA, Ms. IH and I would need over 450K/yr income, and we’d still have to take major concessions on the land size and outbuildings we have (ie, give them up altogether). All because RE $$$.

Kids need to start thinking much earlier about what they want out of life vs. their career. The implications of forcing yourself into a big Metro to find a job due to your career choice have never been more grave.

But what if they don’t want to collect bulldozers? – Garth

#185 Dharma Bum on 09.25.20 at 10:17 am

#118 Midnights

40,000 per family, OMG.
https://youtu.be/0WdVnRLAvRQ

Listen to this. Everybody. – Garth
——————————————————————–

I love that guy.

I never knew that Christian Slater was in politics!

#186 Lambchop on 09.25.20 at 10:21 am

#118 Midnights on 09.24.20 at 7:25 pm
40,000 per family, OMG.
https://youtu.be/0WdVnRLAvRQ

Listen to this. Everybody. – Garth

_____________

I love Poilievre. I am still disappointed that he dropped out of the leadership race. He is intelligent, well-spoken and easy to listen to.
Had he become the leader of the opposition, he would have handed Trudeau his ass on a daily basis and I would have some hope in this country and our collective future.

#187 TurnerNation on 09.25.20 at 10:26 am

#64 Scared $$$$less – great news for our rulers, means people are ready to accept whatever is put in front of them. Programming is almost complete.

If Phase 1 was the Compliance stage (March to Sept)
and Phase 2 the Programming stage (Sept to March 2021 imo – such that it doesn’t wear off)
What will be Phase 3? Q2 2021 into 2023?
I expect more hijinx with regard to bankers, currency and more UN rule. Tight timelines.

– Ontariowe is an interesting case. Perhaps infighting between the biggest backers that is the Public Sector Unions like Teachers Union, and the Housing/Construction lobby.
The real prize is the LAND we are on. But the unions also want a cut of these spoils, from the Province.
Could be an epic battle and throw wrench into the rollout of New System.

#188 KNOW IT ALL on 09.25.20 at 10:33 am

THE DEBATES…..

Tuesday, September 29. 9AM

Is Joe serious…..Really he is going to debate Trump?

I honestly feel sorry for what BIDEN is about to go threw.

#189 P.Ooched on 09.25.20 at 10:38 am

housing options

If i had a loonie for every person in Canada who complained about housing being ‘unaffordable’ I bet that I would be even wealthier than Sail Away (welcome back BTW)

Is is just me that finds it rather ironic, that in the country with the 2nd largest land mass on the planet, with one of the lowest population densities per sq KM and an abundance of the very thing that you construct houses out of – houses are ‘unaffordable’?

Well, except for the fact that they are NOT ‘unaffordable’ in many of the fine cities and town across this wonderful land.

hey, i get it, not everyone wants to move to moose jaw or live in lunenburg and if 1] your life is rooted in one fo the ‘unaffordable’ zones and 2] you have a home ownership dream and 3] your a working class person having to pay for a house with the wages that you earn …
well, optimistically I would say, good luck to you cause you’ve got a tough row to hoe. Pessimistically, I would say, 3 strikes – your out of the home ownership market.

But if the aformentioned #1 doesn’t apply and if you want an affordable house, you still have plenty of options available to you today, those options are just not in the GVA or the GTA ( or Hamilton, or Ft Erie or Lunenburg)

The main streaming of WFH opens the home ownership door to many who were previously tied to the corporate cubicle in metropolitan GTA/GVA.

I know that there are some people(no names mentioned) who believe that WFH is just a temporary thing ( like the pandemic) but I believe that 1] the increase in the number of new WFH’ers post pandemic will be significant. 2] A good portion of those will be currently residing in the unaffordable zones and 3] some portion of those will be house horny and will not have the financial firepower to float the $1.x+ M pricetag in the GTA/GVA ( even if the naysayers forecasted 2021 price drops of -10 to -20% materialize )

For many of those who do remain truly WFH on a permanent basis, the door to their home ownership dream is wide open in Lilooet, Lethhbridge, Lloydminster, Lake Winnipeg, London, Laval, Hampton, Logy Bay Middle Cove Outer Cove or perhaps even in Lunenburg once again if the current RE craziness calms down somewhat.

#190 kc on 09.25.20 at 10:42 am

182 Herb on 09.25.20 at 9:07 am

The Canadian Covid-19 Crisis in Perspective:

Population: 37,818,373
Total Covid-19 tests: 6,833,661
Total Cases: 149,094 = 2.1914% of total tests
Recovered Cases: 128,707 = 86.3261% of total cases
Total Deaths: 9,249 = 0.0244% of population

Canadians medically affected by Covid-19:
(Total Cases – Recovered Cases – Deaths) =11,093 or 0.0293% of population
Canadians not medically affected by Covid-19:
(Population – Affected) – 37,807,235 = 99.9706%

(Source: data for 24 September 2020, at https://www.worldometers.info/coronavirus/)

Those are the straight numbers and arithmetic. It takes a lot of misleading statistics, diversion from and distortion of fact, and official and media propaganda to turn this into a medical crisis, an epidemic of national significance, not to mention a global pandemic. Canada, and almost all nations, has done so. Why? To scare the sheep witless in preparation for the shearing. As long as the crisis narrative is believed, there will be no effective resistance.

XXXXXXXXXXXXXXXXXXX

I rest my case….. thanks herb

People, TURN OFF the TV and Radio……… think for yourselves ….

#191 not 1st on 09.25.20 at 10:56 am

I just woke up and realized Justin is a genius. Hear me out.

Anyone who couldnt survive and needed these business loans wont be able to pay them back in a lump. They will need to negotiate payments with either a bank or directly with the govt. Justin lends out at 0.5%, we pay back at 3% and going higher.

Justin just forced millions in the country into another mortgage. Just pulled off the biggest interest rate arbitrage scheme in history.

#192 Brett in Calgary on 09.25.20 at 11:02 am

#30 C V on 09.24.20 at 12:56 pm
#22
And .. what advice for the poor fool if spousal abuse happens to be driving you to purchase a new home in Calgary?
—————————————
Ditto, seems stale here, and detached lower end <500k doesn’t look like it’s going to go any lower. Even if it does for a few years I’m not sure that warrants renting any longer.
—————————
I think this really depends on the deferral cliff – in other words – whether it materializes, or not in any meaningful fashion. Condos have already been smashed over the past 5 years, and semi-detached are bruised, it's just the detached market that has hung around. Also, keep in mind that although prices have been stable in Calgary's single-detached (only down 1.3% median), this is with reduced inventory, while the rest of the country saw 10+% increases. I am willing to wait one more year to see if something happens in C-town given Albertan's are the most highly indebted Canadians. https://www.creb.com/Housing_Statistics/Housing_Data_Map/

#193 Ubul on 09.25.20 at 11:05 am

#188 Lambchop on 09.25.20 at 10:21 am
#118 Midnights on 09.24.20 at 7:25 pm
40,000 per family, OMG.
https://youtu.be/0WdVnRLAvRQ

Listen to this. Everybody. – Garth

Great speech.

A big chunk of the $40K debt per 4 member family probably went to businesses: wage, rent, non-repayable “loan”, etc. subsidies.

It is saving shareholders to re-finance the operating costs of their business from their own capital, The government picks up the tab, then the cost is spread to all taxpayers, even though they are not and will not become shareholders of the effectively bailed out businesses.

#194 Chris Serran on 09.25.20 at 11:11 am

Poilievre is just a career whiner. Waahh, I don’t like what you’re doing… Waah. It’s easy to critique – much harder to come up with an actual real solution. Oh, create jobs – so easy to say. How exactly would PP do that? Exactly – he just says it will happen. So, absolutely no different. If he was as brave and enthusiastic as those war veterans he spoke of, he would have run for leader. But no, then he might actually have to make a decision that counted rather than just complain. I do like his voice though, just wish he was a radio announcer rather than a career compla – I mean politician.

#195 Don Guillermo on 09.25.20 at 11:19 am

#144 crowdedelevatorfartz on 09.24.20 at 9:18 pm
40,000 per family, OMG.

https://youtu.be/0WdVnRLAvRQ

Listen to this. Everybody. – Garth

++++++

Everyone

Email this to ALL your friends and co workers….
Its brilliant
****************************************

Poilievre is awesome. He declined running for PC leadership this time as he has a very young family. His time will come. O’Toole would probably make him Minister of Finance if elected. The Liberals hate Pierre because they have no answers for him. Imagine having a government that think and speak like adults

#196 Brett in Calgary on 09.25.20 at 11:19 am

#118 Midnights on 09.24.20 at 7:25 pm
40,000 per family, OMG.
https://youtu.be/0WdVnRLAvRQ
Listen to this. Everybody. – Garth
————
Thanks for sharing this. Why didn’t this guy stay in the running to lead the cons? Probably too right of center… sigh.

#197 Bill on 09.25.20 at 11:24 am

I wish I had time to write more here.
Thankfully there are some that relize how stupid Trudeau is and what his bizarre policies will do in time.
Like this baby from his lovely speech.
The kicker is the idiots cheering CERB on are clueless as to what happens when you run out of other peoples money.

https://www.bnnbloomberg.ca/wealth-tax-proposal-one-of-the-dumbest-things-in-throne-speech-manley-1.1498832

#198 Pierre on 09.25.20 at 11:26 am

DELETED

#199 Don Guillermo on 09.25.20 at 11:33 am

#197 Don Guillermo on 09.25.20 at 11:19 am
#144 crowdedelevatorfartz on 09.24.20 at 9:18 pm
40,000 per family, OMG.

https://youtu.be/0WdVnRLAvRQ

Listen to this. Everybody. – Garth

++++++

Everyone

Email this to ALL your friends and co workers….
Its brilliant
****************************************

Poilievre is awesome. He declined running for PC leadership this time as he has a very young family. His time will come. O’Toole would probably make him Minister of Finance if elected. The Liberals hate Pierre because they have no answers for him. Imagine having a government that think and speak like adults

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

#196 Chris Serran on 09.25.20 at 11:11 am
Poilievre is just a career whiner. Waahh, I don’t like what you’re doing… Waah.

*************************************
Typical Liberal response to adult criticism. Like I said they have no answer.

#200 KLNR on 09.25.20 at 11:46 am

@
#201 Don Guillermo on 09.25.20 at 11:33 am
#197 Don Guillermo on 09.25.20 at 11:19 am
#144 crowdedelevatorfartz on 09.24.20 at 9:18 pm
40,000 per family, OMG.

https://youtu.be/0WdVnRLAvRQ

Listen to this. Everybody. – Garth

++++++

Everyone

Email this to ALL your friends and co workers….
Its brilliant
****************************************

Poilievre is awesome. He declined running for PC leadership this time as he has a very young family. His time will come. O’Toole would probably make him Minister of Finance if elected. The Liberals hate Pierre because they have no answers for him. Imagine having a government that think and speak like adults

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

#196 Chris Serran on 09.25.20 at 11:11 am
Poilievre is just a career whiner. Waahh, I don’t like what you’re doing… Waah.

*************************************
Typical Liberal response to adult criticism. Like I said they have no answer.

nah, crowdie’s right.
Pierre would make a great AM radio host.
PM not so much.

#201 TurnerNation on 09.25.20 at 11:46 am

#192 kc you show have seen in front of Siani hospital downtown Toronto this morning. A city block-long snaking line of people wearing Freedom Masks and obediently standing 6-6-6 feet apart. Security guards watching the milieu.
I can only guess this is some testing place? Gonna be fun outside in -10c weather.
I’m still learning this New System religion. I gather regular tests (of faith) are a requirement?

It was the oddest thing I’ve seen. I mean in WW2 there were long triage lines, maimed and moaning people.
But in the current WW3 (where we all are the enemy) it is long lines of zombie-like faceless people staring at their phones?
THIS is the state of “health care” in 2020?? Science yo.

Each of them should have gone for a a few laps run around the block, headed home and eaten something healthy then do the same tomorrow. But no that isn’t being taught
Should I be surprised – I mean some doctors willingly put deadly silicone implants and toxic mercury fillings into our bodies for decades. Always the soft kill.

#202 Millennial Surrealist on 09.25.20 at 11:49 am

Greta is back boomers… time to join us… while ya still gotta a chance… the future is us…you’ve done enough damage

https://www.theglobeandmail.com/world/article-greta-thunberg-and-the-fridays-for-future-youth-climate-protests/

#203 Bytor the Snow Dog on 09.25.20 at 11:49 am

Not that actual science means anything anymore, but just for kicks I’ll share the CDC’s updated survival rates for the Corona Virus published last week (in case you somehow manage to get infected).

Age 0-19: A 99.997% chance of SURVIVAL

Age 20-49: A 99.98% chance of SURVIVAL

Age 50-69: A 99.5% chance of SURVIVAL

Age 70+: A 94.6% chance of SURVIVAL

This is from that “basket case” many claim is the US- Canadian odds of survival are even better.

Now kindly disregard and return to your completely irrational MSM induced state of mass hysteria that is destroying life as we know it.

#204 jal on 09.25.20 at 12:00 pm

How to win votes
VOCABULARY LESSON (from Biden to Trump)

DEBUNK
to expose or excoriate (a claim, assertion, sentiment, etc.) as being pretentious, false, or exaggerated:
discredit · disprove · contradict · controvert · confute · invalidate · negate · give the lie to · prove to be false · challenge · call into question: no proof of wrong doing

#205 Ubul on 09.25.20 at 12:13 pm

There are many reasons why Canada is screwed.

A major one, that nobody even mentions is the super low deployment of robotics in the economy.

https://ifr.org/ifr-press-releases/news/record-2.7-million-robots-work-in-factories-around-the-globe

#206 Abolitionist on 09.25.20 at 12:14 pm

Re: #179 westcdn

What happened in the hot tub on the Aga Khan’s island sure doesn’t stay in the hot tub on the Aga Khan’s island

#207 Bill on 09.25.20 at 12:14 pm

CERBians
If your coming to the Sunshine coast I can give you a little seminar on what your future might look like with all you free money being sprayed at you and everywhere else.
With the loonie being inflated away we will look into your future see what your purchase power of your commie cheque will buy you down the road. Ya think they will index it to the fake inflation rate?!!! Lol

https://www.brantfordexpositor.ca/investing/david-rosenberg-trudeau-throne-speech-economy/wcm/6058bb32-a7cb-49c6-a060-7b13c25508c4

#208 kc on 09.25.20 at 12:15 pm

203 TurnerNation on 09.25.20 at 11:46 am

#192 kc you show have seen in front of Siani hospital downtown Toronto this morning. A city block-long snaking line of people wearing Freedom Masks and obediently standing 6-6-6 feet apart. Security guards watching the milieu.
I can only guess this is some testing place? Gonna be fun outside in -10c weather.

XXXXXXXXXXXX

You sure it wasn’t the pre-screening line for the “vaccine” that will save the world and makes billionaires even more billions??

Roll up your sleeves and get your health passport…..

cheers

#209 Bill on 09.25.20 at 12:18 pm

Alot of what you touched on Garth.
When fools rush in….

https://financialpost.com/real-estate/mortgages/home-prices-to-drop-new-report-predicts-and-even-toronto-and-vancouver-wont-be-immune

#210 IHCTD9 on 09.25.20 at 12:29 pm

#186 IHCTD9 on 09.25.20 at 10:00 am

But what if they don’t want to collect bulldozers? – Garth
_____________________

While it pains me to hear of such people – they still gotta make the call. I’m just advocating career choice be made in connection with the reality on the ground. Totally up to them if they want to try their luck in a metro, but a little thinking reveals its no slam dunk.

My “career choice” has changed several times over the years – thanks to “$h!t happens”. I first wanted to be a Marine Biologist… (lol).

#211 Ubul on 09.25.20 at 12:36 pm

#209 Bill

Sadly, that effect will not be limited to CERBians.

#212 Bill on 09.25.20 at 1:38 pm

#213 Ubul on 09.25.20 at 12:36 pm

Yes that’s why I’m pissed.
The Repercussions will be massive….What we had is ending.
I’m in the very well off category but I worry for many.

#213 dogwhistle on 09.25.20 at 4:36 pm

#120 Sail Away on 09.24.20 at 7:33 pm

How about paying back the corporate CERB you’ve been taking so openly? L.O.L

—————-

No problem. But I’ll have to layoff staff that have been kept employed by the wage subsidy.

Send me your contact info so their families can extend gratitude in person.

———————————————

you shouldn’t be employing anyone if a small flu has that kind of impact on your business, it just means it’s not viable in the first place. Savvy?

#214 Linda on 09.25.20 at 8:16 pm

#138 ‘Darren’ – don’t count on retiree spending even if they get showered with $ by the Libs. Retirees usually are trying to get rid of ‘stuff’, not go out & purchase more of it. Tough crowd to buy for, for sure. They usually like experiences rather than more ‘stuff’.

#215 DON on 09.25.20 at 10:22 pm

@Gravy Train

That was good of you to apologize.

@MF ….keep on posting buddy.

#216 Boom_or_bust on 09.25.20 at 11:05 pm

Thank you both Midnights and Garth.

“40,000 per family, OMG.
https://youtu.be/0WdVnRLAvRQ

Listen to this. Everybody. – Garth”