The Big Plan

– chantallevesquephoto.com

My, my. A third of Canadians tell pollsters they’ll “never” recover from the Covid crisis. Four in ten say they can’t withstand a second wave. As many state their financial lives have totally sucked since March. Worst hit? Those in their forties and fifties. Half say recovery is impossible and they’re already depleting savings to get by.

Are these people just being drama queens? Hasn’t residential real estate and a cheap mortgage made everybody rich?

Nah. TD economists say 97% of us haven’t bought, sold or moved since the pandemic began. All this added wealth is illusory at the moment. More important are jobs and cash flow.

So where’s the bug at this week?

Not good. Over 81,500 new infections and a thousand fresh deaths in the US yesterday. New peaks are being hit. Can a hundred thousand daily cases be far off? By election day maybe? In Europe, it’s a big mess. France, Germany and the UK are being whacked. New lockdowns. Economic activity curtailed. As a result, (a) stocks are taking a beating, especially in the absence of a US stimulus package (they’re still arguing) and (b) poor Alberta. Oil plunged another 6% on Thursday because the virus is taking cars and trucks off the road, destroying demand.

Cases are way up lately in most of Canada, too. But relatively speaking we’re a paradise. Still, the defeatist attitude is telling. And here’s what it says: most people have more debt than assets, savings and investments are inadequate, they live paycheque-to-paycheque, the bulk of net worth is in one asset meaning their ability to survive for a few months in a changed world is, well, close to zero.

Real estate did that. You know it. We’re a one-trick-pony nation now. Hell, a quarter of the entire GDP might as well have “MLS” stamped on it.

Sadly, our central bank is bent on rendering the situation worse.

This week the Bank of Canada was very careful to make three things clear: rates will not be going up until 2023; it’ll spend billions a week buying long bonds so mortgage rates stay artificially low; and dig this statement –  “It means that if you’re a household considering making a major purchase you can be confident that interest rates will be low for a long time.” Yup, the Tiffer actually said that. He might as well have suggested he send over his realtor brother-in-law to see you and have a brewski.

And just to reinforce this, the BoC’s latest report states: “More than a quarter of respondents to the Canadian Survey of Consumer Expectations in the third quarter of 2020 reported they would like to move to a larger or single-family home because of the pandemic.”

Okay, here’s the deal. The Big Plan for Canada to get out of this virus mess and rekindle the economy is obviously for you to by a house. Any house. Hopefully a giant mudda with a bloated mortgage. The government and our central bankers are counting on residential real estate to stay hot, thanks to cheap money and lots of FOMO, in order to achieve the very ambitious 4% annual growth rate (2021) spelled out earlier this week.

Figure it out. Oil is crazy in trouble. There are four million people on the pogey. Our biggest trading partner is out of control. Whole sectors of the economy won’t be coming back for a few years. The CB is out of bullets. And Ottawa has already spent more money than God. So they want you to do the heavy lifting by running off to buy a property at an inflated price with a massive amount of financing.

Okay, got it. But don’t we already know this is financial folly?

Of course. Look at those poll results. Half of middle-aged folk say they’re pooched. And 70% have real estate. In fact, 20% of all those folks were part of the can’t-pay-the-mortgage crowd for the last eight months. Increasing home ownership rates and household debt – already off the charts – is not a clear path to financial security. In fact if the virus gets worse, lasts longer or results in regional lockdowns, many will suffer.

Meanwhile pumping up real estate values further will only increase the wealth divide by making it more unaffordable for many. How does that square with the Liberal-leftie pledge to sock it to the rich?

In short, the plan The Authorities have for us is manipulative, cheap and tawdry.  I’m shocked.

192 comments ↓

#1 TurnerNation on 10.29.20 at 3:16 pm

Moving so fast…lockdowns must continue to shut the Old System. UBI in Q1 bank on it. imo.
NO more news exists only predictive programming.
For our health Comrade! Always

The NEW SYSTEM is mainstream now. Submit or else.
We past the compliance phase (March-Sept); we are into the normalization stage. Everything must change, daily overload until you submit.

https://www.ctvnews.ca/health/coronavirus/canada-s-top-doctor-calls-for-structural-change-to-address-covid-19-inequities-1.5164415

“OTTAWA — Canada’s Chief Public Health Officer Dr. Theresa Tam is calling for “structural change” across health, social, and economic sectors in the wake of COVID-19, in a new report highlighting the successes and shortfalls in the country’s pandemic response to date.”

#2 Bartman on 10.29.20 at 3:22 pm

Shocked? Really?

#3 SeeB on 10.29.20 at 3:27 pm

#137 willworkforpickles on 10.29.20 at 2:05 am

#74 SeeB
“If we want to have a discussion in Canada as to growing economic inequity, why so much low wage work and under employment, then let’s do that. I think we will find that the root of a declining standard of living has nothing to do with Climate Change or Covid.”

……………………………………………………………………………………………………..

We could fix the system what needed to be fixed and carry on in the old days.
With piles and piles of government intervention into every nook and cranny of business and our lives there is no real fix for the fix were in.

……………………………………………………………………………………………………..

What you say, I can’t disagree with, but exclusively blaming “the government” is blaming the puppet and not the puppeteer.

I’m gonna posit my own “conspiracy”, since this seems to be the place to do it. However, just to be fresh from the other conspiracy pushers, I’ll share the research I did.

The Walmarts, Costcos, McDonalds, and other major corporate chains will survive the minimum wage increase. They have the tech, money, and capability to raise prices to compensate the increase in mimimum wage. Sure they may take a temporary stock hit, but they will recover.

Small business however, does not have that same wiggle room that the corps do. In the drive to bring in minimum wage increases, we havn’t really created an environment where the average small business will be able to pay it.

So what do we do? Well, how did taxation look in the US back in the 1950s to 1970s, back when America was “great”.

https://files.taxfoundation.org/legacy/docs/fed_individual_rate_history_nominal.pdf

In the 50s, the top marginal tax rate was 91-92%. IN January 1963, the Kennedy presented congress with a tax plan that eventually became the Revenue Act of 1964, that dropped the the top marginal rate from 91% to 65%. There was a decrease across all tax brackets ranging from 26% at the top to 4% at the bottom..

Hmm… that’s seems weird…

Well, surely infltion counts for it. USD$1 in 1963 would equal roughly $8.51 in today’s dollars:

https://www.in2013dollars.com/us/inflation/1963?amount=1

OK, so in order to trigger a top marginal tax rate of 91% in 1963, you’d need to be earning $2,553,000 in 2020 dollars. To contrast, the current top 2020 tax bracket in the US is $518,401, and that tax rate is 37%. Wow, that’s a pretty big swing from 1963. This inability of modern government to fathom higher tax brackets is why the doctors and other professionals Garth describes get screwed by tax raises. It’s almost like they are ignoring the possibility for some lobby-ish reason.

Well, that lack of higher brackets and lower rates should be OK, after all, by the time Regan came around, we were certain handling oodles and oodles of cash back to the wealthy companies by lowering that tax rate would pay for itself due to the all the economic activity it would generate. However, instead of creating more jobs at home, we witnessed the mass off-shoring of good manufacturing jobs that started in the late ’70s and really began to rip in the 80s.

https://theweek.com/articles/486362/where-americas-jobs-went

Weird.. rather than using that capital to generate more business at home, these wealthy companies and individuals used that capital to fund the building of new plants in countries besides the US, even though the vast majority of the wealth they extrated was on the back of US consumers. Now they’ve reduced their labour costs, and put many of their customers out of work, and thus unable to purchase quality goods at a fair price.

Then began the mass cheapening of products.. mass-production and cheap labour were ruthlessly exploited in order to drives prices down. The few large competetors that remains had to outdo each other. The sole value demand of a suddenly beggared US consumer was strictly price. As these companies tried to outprice each other, and creating narrower margins, the drive to find more saving to widen those margins kicked in, and thus a negative feedback loop started. Of course, things can only get so cheap, so competetors drop out, thinning competition at the top, and offering consumers fewer and fewer choices. I guess it makes enforcing standards easier when there are only a few companies, but there is also no incentive to really differentiate your business based on quality.

Occasionally we’ll see an economic revolution, like computers and tech, which offer opportunities to create new lucrative markets, but it seems like

It’s almost as if Capitalism begins to eat itself when too few hands are allowed to hold so much capital.

One of the worst aspects of Communism my mother-in-law described to me while living in post-war Poland, was how there were so few choices of goods. There was one brand of shoe, one brand of toothpaste, one brand of ciggarette, and everything was rationed. Thus bartering among neighbors was the most effective way to get what you need.. Another form of non-currency mediated small business style capitalsm – I made cheese, so I’ll trade you some for a bit of your rye crop.

Now, take a look at the current trajectory of corporate business. More mergers, more monopolies, fewer options, less capital available at the bottom to start new business, and less power to the consumer to find better values. Don’t you think this sounds eerily similar to the Communism I described above? Amazon has deomonstrated a hunger for horizontal integration, so it would make sense others will follow. They will aquire all the land, goods, services, and whatever other markets emerge. Once complete, how would a company that runs everything not be the same as a single nation with one big government head office. Oh right, they aren’t elected… that’s a bummer.

Sorry, I never said this would be a NEW conspiracy… It’s been bantered around for decades in various dystopian science-fiction pieces (Blade Runner, the Aliens Franchise, etc), and now, not so science fiction sources –

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

Everyone under the new Corporatocracy’s “jurisdiction” will be moving 16 tons daily for the rest of their lives…

“It’s a big club, and you ain’t in it” – George Carlin

The current crop of mainstream politicians in North America are in it, though. We often choose them from the same crop of people in the club, and act all suprised and finger-waggy when their old contacts and business buddies come knocking. It’s OK though… at least it’s not Soviet Communisim? What a pathetically low bar to clear…

#4 BlogDog123 on 10.29.20 at 3:28 pm

Trudeau can just add more debt and kick the problem to some future generation.

He’s not interested in coming up with reasonable ways to pay for his pie-in-the-sky promises. Just promise, promise, someone else pays and figures out those numbers and debt stuff.

#5 James on 10.29.20 at 3:28 pm

tsk, tsk, tsk, Millennials and the fossils that did not save for a rainy year should have known better. I always have been a proponent of having one years wages ready to go in the bank. It takes a long hard look at your spending, especially discretionary spending to do this. Not wining and dinning, no three trips to Cabo per year and that new BMW can wait. Living for now has its consequences.

#6 Alex on 10.29.20 at 3:29 pm

Yikes… For places like Vancouver and Toronto, this strategy is soooo dangerous… Crazy.

I see it as a bailout to the people who will be forced to sell in the next months though. I can see it from that perspective.

Still, yikes.

#7 Ace Goodheart on 10.29.20 at 3:30 pm

It’s a functional long term plan.

If you have a large mortgage, that is impossible to pay off due to a disconnect between average household incomes and house prices, with that disconnect created and maintained by low interest rates, then you have to keep working.

Forever. Full time.

To pay the mortgage on the house you will never own.

Working people pay taxes and interest.

Governments and banks are basically the same people.

This just ensures that people keep working and paying tax.

#8 Steve on 10.29.20 at 3:34 pm

Garth, what is your advice for renters?

#9 Jimmy Zhao on 10.29.20 at 3:36 pm

What I’m seeing on the street(Burnaby, BC) doesn’t jive with the statistics.

I go for a walk and here’s what I see:
-the roads are busy as usual,
-busses running, masked passengers.
-people out shopping in corner stores,
-McD’s drive thru lineups.
-Grocery stores busy.
-Liquor store busy.
-Amazon packages arriving daily at neighbour’s houses
-Construction cranes everywhere
-New Condos getting sold out.

What gives ? What I see with my own eyes does not match the narrative of the mainstream media.

#10 FreeBird on 10.29.20 at 3:36 pm

“…the plan The Authorities have for us is manipulative, cheap and tawdry.“ Yes, Virginia politicians and Authorities will lie and there is no Santa Clause. Follow the money.

#11 Silent Observer on 10.29.20 at 3:39 pm

Sorry Garth, I don’t get it. How on earth is any of this surprising? RE in Canada will never be allowed to be adjusted due to basic fundamentals. I loath using this term, but it has become “too big to fail”.

#12 A J on 10.29.20 at 3:40 pm

#5 James

Apparently you missed the part where he said the hardest hit are Gen X.

#13 Dolce Vita on 10.29.20 at 3:41 pm

“Cases are way up lately in most of Canada, too. But relatively speaking we’re a paradise.”

For sure. Try Europe for a few days.

Canada Nirvana (incl. the band too).

#14 Penny Henny on 10.29.20 at 3:43 pm

#199 Bill on 10.29.20 at 2:16 pm
#183 Penny Henny on 10.29.20 at 12:31 pm

Living in paranioa?

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

No but I’d love to visit sometime :)

#15 Brian Ripley on 10.29.20 at 3:43 pm

Yes, real estate sales went bullish at the post Covid April low as FOMO 2.0 ignited, but the sales highs for Vancouver and Toronto were set 4 years ago:
http://www.chpc.biz/sales-listings.html

Calgary sales peaked in 2013 when Crude Oil prices hit a low of $107 after a $110 print in 2011 and the peak of $147 in 2008.

Montreal and Ottawa set their sales highs in 2020 as their listing levels plunged +/- 65% from the 2015 highs.

Winter is a natural sales dampener. On the Absorption rate chart (Sales/Listings), the highs for the year appear to be set.

#16 Captain Uppa on 10.29.20 at 3:43 pm

“TD economists say 97% of us haven’t bought, sold or moved since the pandemic began.”

———————————-

So 3% of Canadians have been doing all that RE buying?! Are you sure?

#17 Dogman01 on 10.29.20 at 3:44 pm

#74
SeeB on 10.28.20 at 7:16 pm

Why has “Socialism” developed into the new red scare? Only the usual
communist extremists are advocating for complete worker control of the means
of production. What most reasonable leftists and centrists want is “Social
Democracy”
————————————-

Unfortunately, the Left appears incoherent, The Left has ideas about
Distribution but lack any credibility on the critical aspect of Production.
(how do we create so that we have something to distribute).

In addition they lack Trust, it appears to me the Left is using Climate
Change and Now COVID to “Trojan Horse” an agenda, they appear manipulative
and not economically competent. They embrace identity politics, which is
antipathy to the principle of equality of all persons.

Teresa Tam got me going yesterday, she drags out the Lefty victim tropes,
“the pandemic effect people of color more, it effects women more”. No, the
problem is – Poverty, lack of opportunity and the precarious state that
leaves you in, regardless of your sex or race.

Name the problem; Low Incomes, Lack of Opportunity.
What is the cause? – limited access to good jobs for wage earners. The best
solution for eliminating poverty, increasing opportunity, for Mental Health
and reducing dependency is a decent paying Job. (not a social program)
Why do Canadians not have access to plentiful good jobs? (anymore)

I argue it is primarily unfettered Globalization and destructive Trade
policies that enrich a small portion of our population at the expense of the
health of our society. Canadians interest as wage earners have been
sacrificed so our Elite can get richer (and more powerful), we have traded
well-paid jobs for low-cost electronics. This reduces wages and opportunity.
http://www.youtube.com/watch?v=4PQrz8F0dBI

The Left however only seems to offer dependency on re-distribution, and I
trust the Left will simply continue these disastrous Trade policies that are
destroying Canadian society. (look at Trudeau and Biden’s approach to China
– something is really smelly there, they are Globalist cheerleaders).

The Left offers dependency Band-aid social programs like UBI, they earn no
trust. What is their plan\model to foster good jobs and industry? How will
they create resilience and reduce dependency?

“it’s not enough to oppose a broken system. A coherent alternative has to be
proposed. For Labour, the Democrats and the wider left, the central task
should be to develop an economic Apollo programme, a conscious attempt to
design a new system, tailored to the demands of the 21st century.” – George
Monbiot

I think many believe that the left will not stop at Mixed economy in a
Liberal Democracy; as their ideology fails to deliver they will double down
during crisis on Leftward movement.

#18 Prince Polo on 10.29.20 at 3:45 pm

The gov’t can sweep this “inconvenient” (and growing) deficit issue under the rug by decreeing a minimum real estate price appreciation of say, 25%/yr, while also paying everybody’s mortgage (in lieu of UBI). Meanwhile, trotting out a perpetually decreasing debt/GDP ratio as real estate approaches 100% of this nation’s “output”. What progress….I’ma gonna hurl now!

#19 Captain Uppa on 10.29.20 at 3:45 pm

Also, about all these boomers crying poor but have real estate.

Just move. Downsize. Cash out. Don’t wanna move? Too bad, being poor is worse.

#20 KNOW IT ALL on 10.29.20 at 3:45 pm

Nice…..gonna sell within the next couple years to some Greater Fool before rates rise.

EZ double my cash.

#21 A J on 10.29.20 at 3:46 pm

#7 Ace Goodheart

Totally agree, but how much more can the working class take on their shoulders before they collapse?

And the scariest part is, people are willing to take on crippling debt for a den and a backyard.

So many people I’ve talked to want more space right now. That is understandable. But everyone is mixing up wants and needs. During times like this, needs should take precedent, but people just can’t stop the wants from clouding their judgement and poisoning their minds. Take the explosion of trailer and boat buying this summer as an example. Maybe people would be better off financially if they had some self control and foresight.

#22 some dude on 10.29.20 at 3:46 pm

Just what the world needs, more overpaid real estate agents and their billboards polluting our skylines. What a future.

#23 Islandgirl on 10.29.20 at 3:46 pm

So much crazy so little time. We are lucky in that my work is still pretty stable and hubby’s hours are still consistent. Grandparents are planning on moving in with us when they retire, mostly because there is no family close to them and who wouldn’t want to live walking distance to the ocean. A little extra money into the household budget and the kids get to see the grandparents all the time. Win-win in my books. Put a bit of money into the house to make things nicer and still a bit more to go but kept debt low compared to income so we should be able to weather the storm of covid without having to give up on eating real food.
The only gripes is the inconsistency of the rules, honestly I wish they would just say “masks, hand washing and stay home when sick” and let everything else sort itself out. I think people would be more amiable to following the rules if they were simple and standard and consistent.

#24 Ace Goodheart on 10.29.20 at 3:47 pm

#188 IHC TD9-

Re: access through the glove box- that is exactly how I did it. The glove box hinges can be popped out at each side with a little tab and the box swings down, giving you this large opening to work in.

I still couldn’t see what I was doing directly but I could prop an old round bathroom mirror in there and it was as clear as day.

Two little torx screws and a locator pin. Job done in less than 10 min

#25 jerry on 10.29.20 at 3:47 pm

Time for the Marshall Plan .

#26 Stone on 10.29.20 at 3:58 pm

In short, the plan The Authorities have for us is manipulative, cheap and tawdry. I’m shocked.

———

Really? This is shocking for you?

After Dr. Bonnie Henry and Dr. Theresa Tam talked about gloryholes, everything else seems so bland and tame.

Maybe that’s why they did it. I’m still in a daze from it.

#27 tkid on 10.29.20 at 3:58 pm

I thought we were vulching? Are we not vulching anymore?

/confused wail

#28 Bdwy on 10.29.20 at 3:59 pm

Exxon and chevron have HUGE dividends right now 7.5 and 10+%.

Oil is not going anywhere.

…..
Nonplussed I’m surprised you ever fell for a front loader. Ditch it now. 400 gets a great top loader.

……..
On play now.com trumps odds of winning have improved 5 times in the 3 days side I placed a bet. I get paid 2.63 when he wins its now down to 2.38
………

#29 Leftover on 10.29.20 at 4:02 pm

It’s not only the government’s fault that Canada has real estate mania, our business community has for too long depended on easy-to-extract resources and has failed to innovate.

Building condo’s is a natural progression for an unproductive economy. In Canada an entrepreneur is someone who sells once the idea attracts American interest.

Housing is the new oil, and it’s destructive:

https://www.economist.com/special-report/2020/01/16/housing-is-at-the-root-of-many-of-the-rich-worlds-problems

#30 Bdwy on 10.29.20 at 4:05 pm

My top loader came with a stupid lock on the lid preventing opening anytime it was running and even a few minutes after. F that. I pulled out and overrode the switch. There is no real need to ever close the top for non Darwin contender types.

#31 Robert B on 10.29.20 at 4:06 pm

DELETED

#32 Freedom First on 10.29.20 at 4:07 pm

Gee Garth, shocked? Didn’t you know that everyone involved in trying to get us into housing and mortgaged up to our eyeballs is trying to help us!

Not everyone is a fool like me who never has any debt, but only tangible assets, cash, a balanced, diversified, and liquid portfolio and streams of cash flow. Mind you, I have been an idiot with the same MO for 40+ years.

Freedom First

#33 Dogman01 on 10.29.20 at 4:07 pm

#3 SeeB on 10.29.20 at 3:27 pm

Yep, totally agree.

It is almost like a small group of interests just keep on winning no matter whom we vote for.

Blue tie, red tie, the giant sucking sound of weath and power continues in the same direction.

#34 dogwhistle on 10.29.20 at 4:11 pm

#5 James on 10.29.20 at 3:28 pm
tsk, tsk, tsk, Millennials and the fossils that did not save for a rainy year should have known better. I always have been a proponent of having one years wages ready to go in the bank. It takes a long hard look at your spending, especially discretionary spending to do this. Not wining and dinning, no three trips to Cabo per year and that new BMW can wait. Living for now has its consequences.

——————————————————-

Cute.

Maybe the millennial is the nurse that will take care of you when you big manly man (you’re a dude right?)
catches the flu.

Maybe that other person has had a different journey to yours (oh mighty know it all) maybe he had to take care of a relative dying from cancer and couldn’t save on year of wages.

People like you, Faron, sailaway are turning me off this blog. There’s a nasty tilt since March 2020 that brings out all the smaller fools (see what I did there? me so clever with big trucknutz) and I’m pretty convinced the author of the said blog has noticed the change.

I wish you well and hope you won’t fall on the side of the road in your life.

PS: the number of typos in your post makes me doubt you’d be able to save anything out of your minimum wage. See it’s so easy to attack people. so easy. lol

#35 Trudeau’s Magic Money Machine on 10.29.20 at 4:16 pm

She said Canada doesn’t have a filing with MMT.

But don’t be fooled.

She has her poker face on.

#36 n1tro on 10.29.20 at 4:19 pm

The most dangerous disease in the world: Intelligence

https://www.youtube.com/watch?v=SkJPDXrlP6w

😃

#37 yorkville renter on 10.29.20 at 4:22 pm

The thing that drives me crazy is that our home ownership rate is VERY high at the moment – I think just a hair over 70%, yet the Government is doing everything it can to keep the whole housing bag inflated.

Who’s left to buy a place (OK, maybe me)

#38 Dolce Vita on 10.29.20 at 4:22 pm

I mean if Canadians are depleting savings just now, then they have been prudent in the sense that 6 months worth of expenses should be saved for unforeseen events, usually a recession and job loss.

Lockdowns started in March. We are at the 8 month mark now.

Overall Cdns have done a good job if they have lasted this long, then again, with a little help from Gov Canada – well those that needed the help.

I think it was irresponsible of the BoC Tiff, in essence, asking Cdn consumers to get into debt so as to spur the economy on with cheap rates.

A new first but hey it’s COVID, it never ceases to amaze.

——————-

Undoubtedly you will have heard of knife attack and killing of 3 people in a Nice, FR Church and 6 others injured from knife wounds…happened this morning 900 h CET.

The French police found an Italian Red Cross letter on the person that committed the attacks (saying he had gone thru a 14 day quarantine in Lampedusa and was OK) after he was shot by them but not killed (hospitalized).

It took the French MSM until this evening to figure that the Lampedusa connection MEANWHILE in Italia, the MSM had it all figured by about Lunch Time (he was transferred from Lampedusa to Bari for processing and was found not to be a legitimate refugee or asylum seeker per EU Laws, 90% of them are refused).

Also, he was asked to LEAVE Italia with 7 days and normally transferred to a detention centre. He was photographed, finger printed, etc.

He got away after processing. Within a day or so, he made it to Nice.

Of course, the Italian Right reads newspapers too and has called for the resignation of Italian Interior Minister Luciana Lamorgese, just after Lunch Time.

Is that fair calling for Luciana’s resignation? I don’t know.

But here is what I do know.

ONLY 2 from Italia, “newcomers”, have gone on to commit terror acts (some will say 2 too many, the guy today and the guy who did the truck attack on a Berlin Christmas market in 2016) and I also know this is how many have come to Italia by sea:

https://www.statista.com/statistics/623514/migrant-arrivals-to-italy/

About 350,000 of them since 2016. So that’s:

= 2/350,000 or a very, very small %.

Mind you little consolation to the families that lost loved ones today and in Christmas 2016.

——————-

PS:

The legitimate newcomers get sent off to other EU countries (which like advertise to everyone how welcoming they are) and behind everyone’s back they end sending them back to Italia, scroll to bar chart near the bottom of the page:

https://www.ilsole24ore.com/art/i-migranti-rispediti-italia-sono-piu-quelli-che-sbarcano-AC9ySL?refresh_ce=1

Where do they come from?

Here you go:

https://www.statista.com/statistics/624866/top-immigrant-nationalities-declared-upon-landing-italy/

PS, PS:

I gave you Blog Dogs the skinny and you can compare now to the story that the N. American MSM is concocting.

News at 11 (“Kanada” Time)

…and yes I know this name, background, nationality, etc. per the Italian MSM but in the interests of what is in my mind PRUDENT on Garth’s Blog I am withholding that information. They even showed a video of the man being shot by Police whilst weilding a knife at the French Police…it has been since pulled. Good.

#39 joblo on 10.29.20 at 4:23 pm

“In short, the plan The Authorities have for us is manipulative, cheap and tawdry.”

The Authoritease in Kanada are PATHETIC.

They care little for the masses except to keep feeding them.

Kanucks failure to take personal responsibility, control and think for themselves leaves them with this shirtshow. It’s over.

#40 Ustabe on 10.29.20 at 4:26 pm

Wages.

My front facing business was small diners/coffee shops. Twice I ventured into the white table cloth sector. In all cases I paid well above minimum, even the tipped employees. I provided full medical and dental, single and family plans. Heck, at one joint in a small town I had so many single moms working for me i bought the shack next door and installed one of them as a resident child care provider and offered free childcare, bring your own snacks.

I was paying 25 cents for a bun that McDonald’s paid 7 cents for. But my staff made a living wage, I made a modest profit and I’ll go to my death saying anyone who can’t figure out how to employ folks above minimum wage doesn’t have much of a business plan. Or they have a particularly sinister business plan.

Did paying above minimum and offering healthcare/daycare cost me money? Short term yes, long term not at all. I had very little staff churn. Most of the time fully 80% of my staff knew how to open and close the joint. 50% knew how to do the ordering, 30% knew how to do the bank deposits. Which left me the time to do other things…like work with my brother in Calgary building a medium sized property management company which upon his death and subsequent sale provided my family with wealth beyond my wildest dreams (for a while….I’m getting used to it now).

What this current crisis is showing is that we depend on these entry level workers, other wise how do we get our stuff? how do we get to go to the gym and bitch and moan about some corporate choice on masks without the minimum wage desk person or the paid by the piecework trainer?

That so many fall into debt, are short money at the end of the month is failure of those who went before, not current teachers, parents, etc. So its your failure if you are over 50. My adult children certainly aren’t short or indebted, in fact their housing pays them. This despite working for what I consider not much money in order to have the rock climbing, mountain hiking, lake, river and ocean kayaking, wilderness camping lifestyle I imbued into them when young.

I’d say their life/work balance is bang on. Seems a lot of you haven’t found that even now.

#41 Doug t on 10.29.20 at 4:28 pm

3 Seeb

Garth ya gotta disallow essays

#42 Randy on 10.29.20 at 4:33 pm

I’d be nervous if I hadn’t been planning for an economic nuke like this…

#43 Ernst Zundel on 10.29.20 at 4:37 pm

DELETED

#44 Dolce Vita on 10.29.20 at 4:41 pm

#41 Doug t

Apologies for my essay today and other days as well.

Long Winded here at times (could it be the Italian in me?).

#45 Penny Henny on 10.29.20 at 4:42 pm

#26 Bdwy on 10.29.20 at 3:59 pm

On play now.com trumps odds of winning have improved 5 times in the 3 days side I placed a bet. I get paid 2.63 when he wins its now down to 2.38
/////

More moola going on orange.
The house wants even money on both sides so that they can take their 10 points and not risk anything.
Their job is not to predict the outcome.

go orange

#46 FreeBird on 10.29.20 at 4:44 pm

“More than a quarter of respondents to the Canadian Survey of Consumer Expectations in the third quarter of 2020 reported they would like to move to a larger or single-family home because of the pandemic.”

Just reread this. Would like to maybe but if other stats on deferrals, UE, and ‘third of Canadians tell pollsters they’ll “never” recover from the Covid crisis. Four in ten say they can’t withstand a second wave. As many state their financial lives have totally sucked since March.’ Who is buying and with what? Oh, wait is this where the ‘authorities’ come in? Funny but so not.

#47 Earlybird on 10.29.20 at 4:47 pm

So happy to hear Centrals Bankers are out of bullets! This is good news..we need a healthy correction…
Yes, please push more folks into buying real estate….less people in the rental pool…cheaper rent for the remainder….more good news!

#48 millmech on 10.29.20 at 4:51 pm

How Did These Doomed Villagers Survive The Black Death? | Riddle Of The Plague Survivors | Timeline
Majik,
This is the video that has the info on the genes that help people survive pandemics, we evolve!

#49 Red_falcon on 10.29.20 at 4:52 pm

RE prices must remain high as this is the main source of revenue for municipal governments. If and when RE prices fall, so too will minimal revenues. That’s why there is a perverted collusion of sorts for government to prop up RE prices. Revenue like this was never meant to be a cash cow, and now that it is, can’t be put back in the bottle lest revenues fall on all levels. Balloon popping is in vogue soon… and then all will suffer cuz of incompetent govt voted in by incompetent sheep! We can’t be a first world country when voted in by 2nd class citizens voting in 3rd world class politicians of the worst sort. Heed these words for the RE reckoning is coming soon enough.

#50 Bezengy on 10.29.20 at 4:57 pm

#1 Turner Nation

OTTAWA — Canada’s Chief Public Health Officer Dr. Theresa Tam is calling for “structural change”

———————-

And she gets to control the purse strings, accountable to no elected government. Funny what happens when one gets a taste of power.

#51 Guelph Guru on 10.29.20 at 5:01 pm

I think everyone on this blog agrees, that the people running the country are short sighted(Can see only till the next election).
All the smarty pants are on this blog with no power, and can only exchange witty comments.
So the real question to ask is how do we smart people take advantage of this situation and come out laughing holding tons of wealth safe from the grasp of the Robin hoods? Any suggestions?
My shopping list for Monday’s crash(I think there is a good probability):
Brk.b: Always grab it when on sale.
XLF: Financials
XCS, ZSML, VBR: Small cap
ZRE: REIT
ZEO: In 2 years will double. Speculative bet. Look at the book value. Absolutely crazy. We can get a dollar for 25 cents. Hopefully they wont go bankrupt.

#52 uncle dave on 10.29.20 at 5:03 pm

so 3% of people are driving house prices through the roof in these unprecedented times, it’s crazy no.

#53 SOMETHINGS UP!! on 10.29.20 at 5:04 pm

Frick….. somebody write a book and placed it in envelope #3

#54 Sir Soy on 10.29.20 at 5:09 pm

Hi Garth,
Doesn’t this justify a house purchase given that further real estate appreciation is virtually guaranteed?

What the market may do in the short term is completely irrelevant to what the correct action is for you. If you need a house and can afford it without gutting your finances or putting your family at risk, go ahead. If not, don’t. Nothing else matters. – Garth

#55 twofatcats on 10.29.20 at 5:15 pm

Our young people growing up here in the Niagara region – who are paid Niagara wages – are being priced out of the housing market. The baby boomer millionaires who are flooding in from the GTA are driving up prices beyond what average Niagara wages could afford.

#56 Ponzius Pilatus on 10.29.20 at 5:17 pm

#136 nonplussed yesterday
You’re a victim of build in obsolescence.
I had the same problem.
Don’t buy Samsung.
Miele and Bosch are the best.
German washers have been front loaders for ever.
They just wash much better.

#57 Faron on 10.29.20 at 5:20 pm

#36 n1tro on 10.29.20 at 4:19 pm

Maybe you can help me with something? Your deodorant salesman seems to say that pandemic handling and a lax approach equates to intelligence. But we also know that as many as 70% of Americans think that mask wearing, social distancing and overall measures to care for each other is appropriate. Now, IQ (if we can take that as a proxy for intelligence — debatable) is roughly gaussian distributed. That means that at least 20% of the dumb COVID worriers are actually smarter than average, but that conflicts with the video’s ideas. It could be as many as a full 50%. That would be unfortunate because it would put the 30% that question all of this and don’t help out below the magical 100. I think the mix is probably more even than that. What do you think?

#58 alister on 10.29.20 at 5:20 pm

#3 SeeBee

I suppose I’m a little older than you and was around in the 50’s and 60’s.

What you haven’t considered was that little thing called WW2. In the 50’s and 60’s, WW2 wasn’t long over.

Europe was leveled, including much of it’s production capacity. There was a thing called a Marshall plan to rebuild Europe. North American turned it’s still in tack production capacity, towards the European rebuild.

In addition, North American had a 10 year depression just before the war, then during the war NA was on allocation of most items, you couldn’t buy anything no matter how much money you had. People who stayed in NA and made money had nothing to buy, so when the war ended they had the cash.

When the soldiers came home they wanted houses and families, furniture and cars etc. War bonds were being paid back and so there was money to spend. The soldiers were first in line for jobs for the duty they performed in the war, so they got jobs.

Call it pent up demand for the 17 years of depression and war before the 50’s.

That’s why everything was booming in the 50-60s.

There was a lot of moving parts in that era you can’t cherry pick.

#59 Stan Brooks on 10.29.20 at 5:26 pm

I on my part ain’t shocked at all.

I warned many times about that, the destruction of currency due to idiotic monetary policies.

If you count on the scheiße stamps with expiration date as a store of value you are in for a big trouble.

It is their ‘money’ folks, not yours.

Savers don’t matter. Retirees don’t matter. I personally disregard those notes as the piece of trash it is. You can’t even wipe your behind with it as in the good old times. You can’t ask for confidence with a decree (while being a con-man).

Cheers,

#60 jess on 10.29.20 at 5:32 pm

..” hiding ill-gotten cash behind shell companies is so widespread in Canada it’s known globally as “snow washing.”

British Columbia
Money-laundering commission resumes hearings in B.C.

Dirty money in the real estate, luxury car and gambling sectors under examination at the Cullen Commission
CBC News · Posted: Oct 26, 2020 8:23 AM PT | Last Updated: October 26

https://www.cbc.ca/news/canada/british-columbia/cullen-commission-money-laundering-hearings-1.5776898

Walmart removes firearms, ammunition from store floors in U.S., citing ‘isolated civil unrest’

Move designed to protect customers, employees as tensions rise, retail chain says
Thomson Reuters · Posted: Oct 29, 2020 5:05 PM ET | Last Updated: 3 minutes ago

#61 Penny Henny on 10.29.20 at 5:34 pm

#55 twofatcats on 10.29.20 at 5:15 pm
Our young people growing up here in the Niagara region – who are paid Niagara wages – are being priced out of the housing market. The baby boomer millionaires who are flooding in from the GTA are driving up prices beyond what average Niagara wages could afford.
///////////////////

There are places still to be had at decent prices (although much higher than just three years ago).
But new buyers should be looking at entry level homes and those can still be had for under $350,000 (with a yard) which is affordable with Niagara region wages.
Better for them to get their foot in the door because rents are rising at a very fast pace also.

#62 Linda on 10.29.20 at 5:42 pm

Uhm, if people are pooched financially, are not making debt payments because they are living on CERB/EI or pulling $ out of their HELOC/RRSP’s/savings (this presumes they actually have that option) etc. how on earth would they qualify for a mortgage? Surely the banks would recoil from taking on even more risk by loaning $ to the financially pooched? As for those who are not paying even interest on their current debt, can’t see the banks letting them get away with that for long. Especially if they have reason to believe said debtors are on the brink of declaring bankruptcy. Banks epitomize ‘it is better to receive than give’ outlook when it comes to money. That is why they are in business – to make money, not lose it.

#63 Catalyst on 10.29.20 at 5:42 pm

Took a walk through a nice neighborhood with $1.5MM-$3MM homes. Then saw a meals on wheels delivering subsidized food to the seniors who inhabit these homes.

#64 SeeB on 10.29.20 at 5:48 pm

#17 Dogman01 on 10.29.20 at 3:44 pm
————————————-
Ok, I don’t want to address Climate Change or Identity Politics as it will get too long. We can do that in a separate post if you really want to. It appears some don’t appreciate long essay and prefer unsupported soundbites.

—————————————–

Unfortunately, the Left appears incoherent, The Left has ideas about Distribution but lack any credibility on the critical aspect of Production. (how do we create so that we have something to distribute).

——————————————————

Well, it’s people who produce things, so, how should these things be fairly divided? I believe that there should be a suitable reward for the people that start a successful business or create an entire market, but, we only discuss it in terms of absolutes. All (right) or nothing (left). I ask instead, how much of a reward is “enough”. What’s the sweet spot? Paying a very skilled surgeon 500,000 to 1,000,000 a year may be feasible, but, should that surgeon have a net worth of $100 billion based on his trade alone? What if they weren’t a surgeon but instead started a bookstore in their garage and put it on the internet? Does that deserve $100 billion?

———————————————————-

Poverty, lack of opportunity and the precarious state that leaves you in, regardless of your sex or race

———————————————————-

Very true. But for some weird reason, it seems to affect those groups disproportionately more than say.. white males? If all things were equal, then why are the stats showing otherwise?

———————————————————-

Name the problem; Low Incomes, Lack of Opportunity. What is the cause? – limited access to good jobs for wage earners. The best solution for eliminating poverty, increasing opportunity, for Mental Health and reducing dependency is a decent paying Job. (not a social program). Why do Canadians not have access to plentiful good jobs? (anymore)

———————————————————-

I agree completely. I wish the folks on “the right” (for lack of a better label since there are certainly some on that side that always valued it) cared more about mental health well before Covid hit, but I’ll take what I can get and hopefully we put this kind of care on par with physical medicine in terms of importance. Expanded mental health care would also be a good source of quality jobs and businesses that can be easily established by local entrepreneurs. Corporations should be barred from participating in mental health to prevent the rampant manipulation and unfair practices like we see in the US health insurance industry.

Regarding where the jobs went, see my earlier essay today. However, the TL;DR is:

Government intervention today sucks because it’s almost always at the behest of, or, requires permission from, wealthy corporate masters.

Our current tax and political system has been designed by those wealthy masters, who continue to make tweaks in their favour.

Wealthy corps and individual that promised to invest at home when they got their taxes lowered, instead used that extra money to fund moving their operations overseas to seek cheaper labour, throwing labour supply mechanics back home out of whack. Nothing significant was done to correct the imbalance.

—————————————————————

The Left however only seems to offer dependency on re-distribution, and I trust the Left will simply continue these disastrous Trade policies that are destroying Canadian society. (look at Trudeau and Biden’s approach to China – something is really smelly there, they are Globalist cheerleaders).

————————————————————–

I hate to break it to you, but these free trade policies aren’t “Leftist”. They are neoliberal. Like I tried to say in my earlier post: Trump, Biden, Trudeau, O’Toole are all cut from the same neoliberal cloth. Trudeau offers more goodies to try and keep the people on-side or distracted from this dynamic. Good on Trump for having his official MAGA hats being American made, but at the end of the day, it’s just swag. North American jobs and industry won’t come back on swag alone, especially since there are already a LOT of Chinese knock-offs for cheaper.

I don’t say this to exonerate his opponents, but to point out they play on the same team. It’s all of them.

So rather than blame “the left” for all the woes of the world, maybe decide if you are a wealthy corporate baron, or, just one of the masses. Your current social circle should give you clues.

————————————————————–

I think many believe that the left will not stop at Mixed economy in a Liberal Democracy; as their ideology fails to deliver they will double down during crisis on Leftward movement.

————————————————————-

We’ve been doubling down year after year in the other direction, how has that been working out? Badly.

Since polarization and tribalism is activity de jure, we are only offered the most extreme solutions that will lead to one type of Autocracy. Maybe we should move a little bit back to the left to find that “Goldilocks Zone”, but full blown Communism is a rather extreme solution when there may be better solutions to bring business and manufacturing back home.

#65 Marcia M on 10.29.20 at 6:05 pm

In America barely 50% of jobs lost in the spring have been recovered. Over a million applied for benefits last week. Heading into winter there is little to look forward to, I am afraid, with more losses likely ahead.

https://www.fitchratings.com/research/us-public-finance/slow-jobs-recovery-in-major-us-metros-drags-on-long-term-tax-growth-28-10-2020

#66 OK, Doomer on 10.29.20 at 6:05 pm

This week the Bank of Canada was very careful to make three things clear: rates will not be going up until 2023; it’ll spend billions a week buying long bonds so mortgage rates stay artificially low; and dig this statement – “It means that if you’re a household considering making a major purchase you can be confident that interest rates will be low for a long time.”
+++++++++++++++++++++++++++

“Everyone has a plan until they get punched in the face” – Mike Tyson

#67 Long-Time Lurker on 10.29.20 at 6:10 pm

There’s an interesting chart in this article: UK Covid-19 Cases and Deaths Per Day.

I don’t know what it’s source is but if it’s legitimate it’s clearly indicating that the virus is becoming less deadly or hospitals are managing cases better.

Roughly:

In April, infections were at a little over 5,000 and deaths were at a little over 1,000. This is a mortality rate of 20%. In late October, infections were at a little over 24,701 and the deaths were at about 310. This is a mortality rate of 1.25%.

Over time, the total number of infections was 942,216 and the total number of deaths was 45,675. This is an overall mortality rate of 4.84%.

Anyone can correct this if I got it wrong.

WORD OF CAUTION Top scientists, NHS staff and business chiefs say Covid ‘hysteria is worse than virus’ – and urge Boris to be ‘rational’
Alex Winter
29 Oct 2020, 8:29

https://www.thesun.co.uk/news/13051131/scientists-nhs-business-covid-hysteria-worse-virus-boris/

#68 Long-Time Lurker on 10.29.20 at 6:18 pm

Actually, one factor in that chart might be that the April infections were mostly elderly people. I don’t know what the case was over there. Still, it’ll be interesting to look at the stats for the mortality rate over time.

#69 Rainman on 10.29.20 at 6:19 pm

It’s a good time to have a house you can afford. Thank god we bought when we did. With these cheap mortgage rates going into 2023, makes us look even more like genius’s.

#70 Drinking on 10.29.20 at 6:19 pm

I would like to think that 2008/2009 taught us that real estate is never to big to fail, when it happens? It depends when governments finally run out of options, then the crash will be severe.
Garth has mentioned many times; if you have the means; will not screw up your future, then buy, never a better time; if you not have the means and buy then you are hooped!

That is a great pic today Garth; I had a pup way back when that looked so much like that good looking mutt in the picture, he was way smarter then I was!!

#71 Dale Benix on 10.29.20 at 6:26 pm

Before the global pandemic I bought a bunch of long 30 year provincial bonds at par to $102 each with 2.60% to 2.74% yields.

I sold them 4 weeks ago when yields were much lower and sold them for $114 to $116 each. They were all in TFSA’s and non-registered took all capital gains. The total gains were $62,460+ $11,055 interest in just 11 months.

I see long term rates are going up again probably another 35 to 40 basis points in the next 2 maybe 3 months. I will keep doing this as I have done for the last 9 years averaging $80,000 a year with only 1 year loss of $40,000.

#72 Kate on 10.29.20 at 6:27 pm

Garth, you are shocked? I am not.

#73 locomocofomo on 10.29.20 at 6:30 pm

I read every day, but don’t think I’ve ever commented. But I just had to share this:

https://twitter.com/FIVRE604/status/1321894061284839424

#74 binky barnes on 10.29.20 at 6:43 pm

I am just thankful that our top man (Mr. Justin Trudeau) has his two manly hands on the wheel. Sleep well fellow blog dogs.

BB

#75 Reality is stark on 10.29.20 at 6:45 pm

Surprise, surprise.
It’s what I’ve been arguing for years.
The government gets your money through the back door by goosing the housing sector for all it’s worth.
When that party ends they go through the front door.
That’s when the socialist King takes the cows and pigs. If you don’t like it he has you shot.
When the bond vigilantes ask for their money you pay. You can talk tough like the President of Greece but you pay eventually.
That’s when he comes to your door for your first born.
Soon it will be time to pay the piper and remember he’s the guy with the army.

#76 jess on 10.29.20 at 6:49 pm

https://www.icij.org/investigations/offshore/americas-island-haven-manhattan/

The movement of dirty money from fruit boxes

https://star.worldbank.org/corruption-cases/sites/corruption-cases/files/Chen_SDNY_First_Amended_Complaint_Sep_19_2011.pdf
https://www.icij.org/investigations/offshore/americas-island-haven-manhattan/

#77 not 1st on 10.29.20 at 6:57 pm

Garth, maybe check the local Home depot sometime.

House prices will have a hard time going down now that lumber, OSB, sheetrock and other supplies have tripled.

Contractors who should have been happy to get some post covid business have responded with labour increases instead of any deals.

The trend is inflationary, across the board.

#78 twofatcats on 10.29.20 at 6:58 pm

Make sure you view the beautiful interior.

https://www.chch.com/vacant-hamilton-home-sells-for-100-000-over-asking/

#79 IHCTD9 on 10.29.20 at 6:58 pm

“ …in order to achieve the very ambitious 4% annual growth rate (2021) spelled out earlier this week.”

4%?

L to the O to the L!

Load the FOMO cannons!

#80 Ponzius Pilatus on 10.29.20 at 7:05 pm

#40 Ustabe.
Great post.
Sure, your foood costs are higher than McDonalds, but you’re not poisoning your customers.
As for wages:
My motto has always been “if you can’t pay your staff minimum wages, you’re in the wrong business”.

#81 Cto on 10.29.20 at 7:05 pm

Do central bankers have to take ethics exams???

#82 Beetman on 10.29.20 at 7:11 pm

“ This week the Bank of Canada was very careful to make three things clear: rates will not be going up until 2023; it’ll spend billions a week buying long bonds so mortgage rates stay artificially low; and dig this statement – “It means that if you’re a household considering making a major purchase you can be confident that interest rates will be low for a long time.” Yup, the Tiffer actually said that”
I learned a long time ago to never trust bankers, politicians and lawyers. Speaking from experience of coarse.

#83 paulo on 10.29.20 at 7:12 pm

Interesting tid bit : Capitol One plans to end its relationships with Hudson’s bay and Costco by the end of 2021 they will be closing there Canadian based call centers and laying off a undisclosed number of people.

I guess a nation of pickled in mortgage debt fools looks like a dicey proposition for providing unsecured credit via Mastercard’s.

#84 Nonplused on 10.29.20 at 7:18 pm

It could be a long winter folks so remember 2 is the new 1 when stocking the pantry.

https://www.zerohedge.com/personal-finance/lot-hoarding-us-food-companies-prepare-second-wave-buying

As I have been reporting the rolling out of stock items continue at the Costco although they have lots of stock so they can hide it well by displaying those items that are in stock. For example squeeze bottles of Ketchup were not to be found this week but 4 liter tubs were there. So I guess the plan is you fill up your old squeeze bottles? I have also reported how hard it is to get specialty parts for things like washing machines and fridges. Things that used to take 3 days to arrive from Amazon now take weeks even if the retailer sends it out the next day. Other items that Amazon retails themselves sometimes still arrive the next day, it depends where the product is being stored. But if it is coming from Texas be prepared for delays.

Alberta reported 5 new deaths and 477 new cases due to covid today. It looks to me like we are barrelling straight towards another lockdown, just in time for Christmas. “I’m dreaming of a zoom Christmas…”

But I wonder what is the end game? How long can we keep this up before people become truly desperate? It is one thing to hoard tomato soup in anticipation of a long lonely winter but what if you can’t afford a case of tomato soup now? And is this CERB thing (or UBI) really sustainable over the long term?

We could be heading for a far worse mess come next spring than we had last spring. Plan accordingly. Covid will pass, all pandemics do (sort of, we are still living with AIDS), but the third of Canadians that tell pollsters they’ll “never” recover from the Covid crisis may be on to something. Once the bank account is depleted and the debts are increased, well, that is the new hole you have to dig yourself out of even if there is no more covid.

#85 Petulant on 10.29.20 at 7:19 pm

“Banking systems cease to function.”

#86 Spelling counts on 10.29.20 at 7:21 pm

#69 Rainman on 10.29.20 at 6:19 pm

It’s a good time to have a house you can afford. Thank god we bought when we did. With these cheap mortgage rates going into 2023, makes us look even more like genius’s.

—————————————————————–

You had me sold that you were a genius ….. until I read “genius’s”.
The plural is geniuses or even genii.
Or perhaps it was when you thanked god?

#87 Barb on 10.29.20 at 7:21 pm

“We’re a one-trick-pony nation now. ”

————————————–

A year or two ago, I recall Garth said Canada is “all rocks and trees”. So now we have ONLY houses…

#88 paulo on 10.29.20 at 7:21 pm

#71 Dale

unless i miss my guess the 5 & 10 Eurobond futures are sending pretty strong signals of .750 to 1.0 increase by Q3 2021? what say you.

#89 Axehead on 10.29.20 at 7:26 pm

“I’m shocked,” I suspect is dripping with sarcasm.

#90 IHCTD9 on 10.29.20 at 7:34 pm

#24 Ace Goodheart on 10.29.20 at 3:47 pm
#188 IHC TD9-

Re: access through the glove box- that is exactly how I did it. The glove box hinges can be popped out at each side with a little tab and the box swings down, giving you this large opening to work in.

I still couldn’t see what I was doing directly but I could prop an old round bathroom mirror in there and it was as clear as day.

Two little torx screws and a locator pin. Job done in less than 10 min
– ———

Sweet! I see a flashlight and mirror in my future. It’ll for sure take more than 10 minutes in my case, but I think an hour might do it. Beats the heck out of a 4 figure repair bill.

Ps – thank-you for getting my handle correct!

#91 3s on 10.29.20 at 7:37 pm

I don’t think you get it – the Virus does not affect the ability to print. Only confidence in a currency does and the masses are too dumbed down to lose their confidence.

Not even real estate drives the economy any longer, only printing more money does and that is limitless in dumbsville. Just stick your hands out under the waterfall of money. Hell no, just stand close to it and you’re going to get soaked!

#92 Captain Renault on 10.29.20 at 7:39 pm

Hey…. royalties please………

#93 justdeleteitifyoudontlikeit on 10.29.20 at 7:39 pm

“Unfortunately, the Left appears incoherent, The Left has ideas about Distribution but lack any credibility on the critical aspect of Production. (how do we create so that we have something to distribute).”

This may be a fair criticism (I won’t opine), but production simply isn’t a problem right now. From most commodities and energy, to steel, autos, construction equipment, aircraft, apps, media, higher education… we have a glut. Overcapacity and overproduction, with consumption driven by ever more marketing and advertising, and ever easier and longer finance terms.

With the bottom 80%’s declining share of profits (i.e. comparatively stagnant wages), it simply can’t afford to pay cash for all the stuff we produce. So we’ve got ever expanding consumer credit, longer auto finance terms, and HELOCs, HELOCs, HELOCs.

Could socialism ruin this? Well, Venezuela has shown you can go broke sitting on one of the world’s biggest oilfields if you alienate your technical class, so of course. But that’s a far cry from saying it’s inevitable.

I’m a fat capitalist, shamelessly living off my tax advantaged dividends. But I read history, and the room.

#94 Sal Rubbaneck on 10.29.20 at 7:48 pm

Asking for a Canadaian friend whose living in South East Asia but planning to return perminently to Canada soon. Can he go back to Canada and live rent free… AND collect the CERB? He doesn’t want to pay rent because he heard you don’t have to now. But he’s also thinking of getting a morgage and not bothering to make monthlies because you don’t have to now, he also heard this. He told me, because the house in Toronto will just get more valueble it doesn’t matter if he makes the monthlies or not so its a win-win he thinks.
Anyone can comment if this is a good plan.. or even doable?

#95 islander on 10.29.20 at 7:51 pm

https://www.lma.eu.com/application/files/4215/5066/7567/Global_Housing_and_Mortgage_Outlook_-_2019.pdf

This sobering information was published pre-covid 19.

“We forecast mortgage growth in Canada to drop to 1%-2% in 2019-2020 from about 5%-6% in recent years due to stretched affordability and tighter qualification standards. The stricter standards, aim to address the high household debt-to-income ratio, which Fitch forecasts to be 170% by 2019.
Because fewer people now qualify for mortgages, rental demand has risen and rents in Toronto and Vancouver, in particular, have surged. Higher rents may increase demand for home purchases, but Fitch expects fewer renters to qualify for mortgages.”

The government may be pushing ‘shop til you drop’, during covid but major lenders are not going to be handing out mortgages to unqualified borrowers.

Sub prime anyone?

#96 crowdedelevatorfartz on 10.29.20 at 8:01 pm

@#44 Dolce Vita
“Long Winded here at times (could it be the Italian in me?).”

++++
When you’re talking with your hands…..absolutely.

#97 n1tro on 10.29.20 at 8:02 pm

#57 Faron on 10.29.20 at 5:20 pm
#36 n1tro on 10.29.20 at 4:19 pm

Maybe you can help me with something? Your deodorant salesman seems to say that pandemic handling and a lax approach equates to intelligence. But we also know that as many as 70% of Americans think that mask wearing, social distancing and overall measures to care for each other is appropriate. Now, IQ (if we can take that as a proxy for intelligence — debatable) is roughly gaussian distributed. That means that at least 20% of the dumb COVID worriers are actually smarter than average, but that conflicts with the video’s ideas. It could be as many as a full 50%. That would be unfortunate because it would put the 30% that question all of this and don’t help out below the magical 100. I think the mix is probably more even than that. What do you think?
——————-
I think you are overthinking things. Jokes and spoof videos aside, here are the facts.

Age Group Infection Death Survival

0-19 0.00003% 99.997%
20-49 0.0002% 99.98%
50-69 0.005% 99.5%
70+ 0.054% 94.6%
Source: Center for Disease and Control Prevention aka “CDC”

Given the above, do you think the response by our governments is appropriate? Covid-19 is more contagious than the flu but it isn’t ebola level so why are we being locked like it is?
&#x1F637

#98 TurnerNation on 10.29.20 at 8:04 pm

Where’s Greta’s Greenies?
Indoor dining is banned in GTA and Ottawa.
We are to eat outside in the barn like filthy animals.
No room in the inn they are playing us.
Anyway the indoors still must be heated fully for people working inside. The outdoor patios are ablaze with propane and kerosene heaters running full blast all day.
“How dare they”. Not to mention disposable cutlery plates and take out bags as many places cannot afford a dishwasher.
Yup the global elites bom’d us back to the stone ages
It will be cold winter in this open air UN camp.
Remember that you are free to leave at any time.

Now you know why they sold us hard on the concept of Ghost Kitchens last year. Uber IPO last year. Food delivery.
The new system.

#99 crowdedelevatorfartz on 10.29.20 at 8:04 pm

@#56 Ponzie’s Phone
“Don’t buy Samsung.
Miele and Bosch are the best.”

++++

Miele and Bosch make cellphones??????

#100 Nonplused on 10.29.20 at 8:07 pm

#28 Bdwy on 10.29.20 at 3:59 pm
…..
Nonplussed I’m surprised you ever fell for a front loader. Ditch it now. 400 gets a great top loader.

—————————

My wife bought it, I was not involved in any way. It only became my problem now that it is flooding my house.

In my wife’s defence she bought it at the height of the HE3 craze, that was pretty much all they were pushing. “Save water” was the mantra. I think at this point people are coming to realize that eventually those things are going to flood your house and you have to replace them every ten years, so the saved water isn’t worth it. Plus old people say they hurt their backs to load.

If the elusive new door bellow (bowel might be a better term) doesn’t eventually show up I’ll get a top load. But there are delivery problems with new machines right now too. And generally you replace both the washer and the dryer so they look the same and no one knows how long it’ll be until the heating coil or the motor in the dryer goes, so it isn’t $400. I’d say it is closer to $2,000+ because we would need at least 5.6 cubic feet, preferable larger, and would replace both machines.

My short term strategy if the bellow doesn’t arrive soon is to put some waterproof Gorilla tape on the split and carry on. The basement ceiling is wrecked already and we are running out of underwear. We will then order from Costco online a new top load set because they have free placement and removal. But who knows when it will arrive these days, if at all.

Further complicating matters is that the machines are currently sitting on a custom pedestal that is tiled to match the floor. That’s going to have to come out for a top load but there is nothing beneath it but water damaged plywood. Have you ever tried to match 25 year old tiles? Not easy. So it isn’t just $2,000+ for the machines, I have a reno job to do as well.

These are the reasons I am trying to get a new bellow rather than a new machine. But no luck so far.

I have the same problem with my fridge. It is a 25 year old Sub Zero (came with the house, I never would have spent that kind of money on a fridge) and so far I have pumped $350 for a new ice maker, Almost that much for a new heating insert, and that much again for a new cold control. $1050 in repairs for a fridge that by all rights should be in the landfill by now. Problem is it is 48 inches wide and a cabinet model with oak paneling to match the cabinetry. You can get 48 inch wide cabinet fridges still and don’t have to go Sub Zero, which are incredibly overpriced, but you still have to bring your wallet and generally can’t get 2 compressors unless you go Sub Zero, and it changes the whole look of the kitchen. Suddenly where you had pleasant looking oak panels that matched the cabinetry you now have 48 x 80 of stainless steel assaulting your eyeballs. And that new fridge is only going to last 10 years before it too goes to the landfill. I hate sending stuff like that to the landfill. They say they recycle it but I doubt it. It isn’t worth taking apart. Maybe they recycle the panels. The rest gets buried.

#101 Pete from St. Cesaire on 10.29.20 at 8:10 pm

What more effective a route could they take if they desire total subjugation of the populace other than to encourage the taking-on of even further debt only to then follow it up with a program of total debt forgiveness providing that you take a knee and surrender all of your rights?
Private property ownership (including ownership of one’s self) is incompatible with “Modern Monetary Theory.”

#102 Out Of Work CEO, Will Travel on 10.29.20 at 8:13 pm

Las Vegas is hit hard with the covid. Vegas depends on thousands and thousands of visitors every day. Vegas like Pearson Airport has less than a third of the visitors it normally has. Also Vegas overbuilt condos on a Donald Trump scale similar to Toronto and Vancouver. No one is gaming in Vegas and the biggest game in Toronto investing in condos looks more and more like a shell game. The Bank of Canada recalls the 19th century gambling strategy known as “The Martingale System” where the player continues to play regardless of the losses.

#103 DON on 10.29.20 at 8:13 pm

It is unsettling to find out there is nothing left in their bag of tools.

Exxon announced 14000 job cuts.

So they are trying to goose an already inflated house market with sky high prices in the middle of the pouring rain. All this in an envitonment where jobs losses are permanent and seemingly on the rise.

So can we start talking about creating a political party and run in every Federal riding accross this great nation of ours, and put Canada back on solid footing. Just something to think about. Action Jackson rather than reaction. A coalition of sorts…

Canadian Tax Payer Party??

#104 DON on 10.29.20 at 8:13 pm

It is unsettling to find out there is nothing left in their bag of tools.

Exxon announced 14000 job cuts.

So they are trying to goose an already inflated house market with sky high prices in the middle of the pouring rain. All this in an envitonment where jobs losses are permanent and seemingly on the rise.

So can we start talking about creating a political party and run in every Federal riding accross this great nation of ours, and put Canada back on solid footing. Just something to think about. Action Jackson rather than reaction. A coalition of sorts…

Canadian Tax Payer Party??

#105 Nonplused on 10.29.20 at 8:15 pm

#30 Bdwy on 10.29.20 at 4:05 pm
My top loader came with a stupid lock on the lid preventing opening anytime it was running and even a few minutes after. F that. I pulled out and overrode the switch. There is no real need to ever close the top for non Darwin contender types.

————————–

Most top loaders do not have a lock, they just stop the spin cycle if you open the lid. However front loaders lock the door from start to finish. They have to or there will be water all over the floor.

#106 Billy Buoy on 10.29.20 at 8:20 pm

Rates WILL NOT INCREASE IN A DECADE. AT LEAST.

Enjoy life while you can…and to you Covid babies…

You will DIE some day. Suck it up and live.

I’m heading to Cuba for a few weeks soon..ZERO WORRIES.

#107 Nonplused on 10.29.20 at 8:30 pm

#56 Ponzius Pilatus on 10.29.20 at 5:17 pm
#136 nonplussed yesterday
You’re a victim of build in obsolescence.
I had the same problem.
Don’t buy Samsung.

—————————-

We are all victims of built in obsolescence, and I hate it.

I mean, I can see computers getting faster with time, but if your old XP machine works for you why do they have to stop it from working?

I learned about Samsung from one of their TV’s. Never buy anything Samsung. The problem for my TV was a capacitor in the power supply fried. Would have cost them $0.02 to put a bigger one in. But it was going to be a $350 repair bill for me. Now I only buy LG and so far no problems.

#108 Scott Cordiar on 10.29.20 at 8:35 pm

The guy with the long term bonds is something I have been doing since the early 1990’s but I caution about putting all your money in this strategy.

I have been putting 35% in stock, equity type investments, 35% in long bonds, provincials and hedged currency government foreign bonds, 15% in physical gold, silver maples, 10% REIT’s, 5% cash.

I have returned 12.6% a year in the last 28 years. It was not a straight line with ups and downs for sure but I never lost in any year. The lowest return I made in a year was 2.1%.

#109 Ponzius Pilatus on 10.29.20 at 8:35 pm

#99 crowdedelevatorfartz on 10.29.20 at 8:04 pm
@#56 Ponzie’s Phone
“Don’t buy Samsung.
Miele and Bosch are the best.”

++++

Miele and Bosch make cellphones??????
—————-
If they would, the phones would last forever.
Oops, my mistake.
They are supposed to crap out, once the warranty is out.
Build in obsolescence: Capitalism’s way of reinventing the wheel.

#110 The Woosh on 10.29.20 at 8:41 pm

#55 twofatcats on 10.29.20 at 5:15 pm
Our young people growing up here in the Niagara region – who are paid Niagara wages – are being priced out of the housing market. The baby boomer millionaires who are flooding in from the GTA are driving up prices beyond what average Niagara wages could afford.

———————————————

Just move to Cornwall, Ontario. You’re welcome!

#111 Flop... on 10.29.20 at 9:02 pm

The regulars on here know I work on high end residential construction, if I had to put an average price tag on each home I have worked on the last 10 years, I would say 5 million dollars would about be it.

Now that this is a washing machine blog a disturbing trend has emerged the last 5 or so years.

A lot of people are now turning the hallway cupboard in the upstairs hallway into a mini-laundry room so they don’t have to trudge all the way downstairs.

Man, in my unprofessional opinion this is a bad idea.

Your washing machine only has to mess up one time and half of your ground floor will become a 24 hour emergency response clean up site.

I don’t even know how stuff like this can get insurance.

You have enough risk upstairs with bathrooms, you don’t need to add to it.

I was nearly finished a custom build a few years ago and someone didn’t turn the water off at night and the faucet in the master bathroom failed and flooded the core of the house, office and elevator shaft.

Elevator shaft? In a house?

Yes, the luxury houses now have them as well, but I can’t talk about that until this becomes an elevator blog…

M46BC

P.S, Hey Uncle WULLY, how’s the weather in the Mac?

I was in shorts and tshirt today on a sub penthouse balcony getting some fresh air.

Signed: Your favourite Thylacine…

M46BC

#112 Faron on 10.29.20 at 9:15 pm

#97 n1tro on 10.29.20 at 8:02 pm

Of course I’m overthinking things. Doing so is my greatest weakness and my greatest strength! You should expect nothing less from me.

You are using the “older people don’t matter” argument. Or more kindly, the “protect our elders but let my people free” argument. That means essentially locking away people over 65 indefinitely. Not good for humans excepting the rare hermit. Ask anyone with a parent in a care home or who is in one. It has sucked. Or ask our host Garth here how he would feel being cooped up while everyone else is galavanting around. Those most susceptible to COVID have a lot of galavant earned from a lifetime of work. You are proposing to take a year, maybe two off of that. Not cool.

It also doesn’t work. El Presidente was in a bubble of testing yet he still was infected. When you have the non-isolated running around, eventually the virus works its way up the demograph.

COVID has already killed more in Africa than the most recent ebola outbreak.

Ebola is self limiting. When you have it you feel like garbage and stay in bed. Thus, it’s much much harder to spread.

https://www.forbes.com/sites/coronavirusfrontlines/2020/07/31/why-is-covid-19-more-deadly-than-ebola-an-infectious-disease-doctor-explains/

#113 Apocalypse2020 on 10.29.20 at 9:34 pm

6 DAYS TO GLOBAL CATASTROPHE!

PREPARE

#114 crowdedelevatorfartz on 10.29.20 at 9:45 pm

Hmmmm

The Money Laundering Cullen Commission interviewed another BC Lotto Executive today.
Long story short, when asked why the casinos werent just stopping gamblers from cashing more than 10k in $20 bills to stop or slow down money laundering….

” That wasnt my job… we waited for direction from our superiors and the ruling govt…..it never came”

Hopefully the Cullen Commission will subpoena “Rich” Coleman former Liberal Minister in control of BC gaming…….

Stay tuned.

#115 Gooblygoo on 10.29.20 at 9:46 pm

Six feet… six person bubble…. covid bill hr6666 and hr666 security bill…. … hmmm must be a coincidence lol.

Ps Dr. Theres-a-tom is funny. She is friends with the new and improved Melinda Gates. Cant even make this stuff up.

#116 crowdedelevatorfartz on 10.29.20 at 9:49 pm

@#106 Billy Bouy

“I’m heading to Cuba for a few weeks soon..ZERO WORRIES.”

++++

When your in Cuba ask the locals if they are going to send clean up crews to Venezuela instead of military advisors……

https://nationalpost.com/news/tilting-tanker-off-coast-of-venezuela-could-spill-1-3-million-barrels-of-oil-into-atlantic

Incompetent, corrupt socialist and communist govts back each other up….. may the populations rise up and stick their leaders heads on pikes

#117 crowdedelevatorfartz on 10.29.20 at 9:51 pm

@#11Floppie
“Yes, the luxury houses now have them as well, but I can’t talk about that until this becomes an elevator blog…”

+++++++
Too Late!

#118 Juanita Santiago on 10.29.20 at 9:53 pm

DELETED

#119 n1tro on 10.29.20 at 10:03 pm

#112 Faron on 10.29.20 at 9:15 pm
#97 n1tro on 10.29.20 at 8:02 pm

You are using the “older people don’t matter” argument. Or more kindly, the “protect our elders but let my people free” argument. That means essentially locking away people over 65 indefinitely.
——————-
Actually I wasn’t. Old people can do whatever they want. As for being locked up, to spare old people from the torture of being locked up, everyone else should be too? Shared misery sort of thing?

The example of Trump getting covid-19 despite being in a virtual bubble is a great example. For the fact that Trump is one of the most guarded person in the world, he still got covid-19. What does that tell you? Being locked down, wearing masks, distancing….they help but they don’t prevent you from getting covid-19.

The Trump example should also show people that the stats hold true. To the shagrin of Trump haters, he “survived” and got over covid-19 within a week.

As for covid-19 affecting Africians more than ebola? Should be obvious…ebola has a lot higher mortality rate so if you got it, you are the walking dead for a couple days with little chance of affecting others before dropping dead yourself. Also, people tend to stay away from other people who happen to be oozing blood through their pores.

Covid-19 on the other hand, gives 99% of the infected mild symptoms so they keep going about what they are doing (poor people in 3rd world countries arent able to call in sick) thus infecting others increasing the chance of killing those who fall within the stats.

#120 Sail Away on 10.29.20 at 10:04 pm

#112 Faron on 10.29.20 at 9:15 pm

Or ask our host Garth here how he would feel being cooped up while everyone else is galavanting around. Those most susceptible to COVID have a lot of galavant earned from a lifetime of work.

————-

It’s ‘gallivant’, Mr. Academic.

‘Galavant’ is an American musical fantasy comedy television series.

You’re welcome.

#121 Faron on 10.29.20 at 10:12 pm

#107 Nonplused on 10.29.20 at 8:30 pm

#56 Ponzius Pilatus on 10.29.20 at 5:17 pm
#136 nonplussed yesterday
You’re a victim of build in obsolescence.
I had the same problem.
Don’t buy Samsung

Samsung phones are alright. Posting this from an s7 active. Still works great, ton of battery, great camera etc. Software sucks.

Makes me wonder what kind of phone TurnerNation gets in his insane asylum. Plastic screen I hope. Gaussian shielded helmet to keep his ideas for his own self.

Computers: mac or lenovo. Install linux and you will have a responsive system on a 1st gen i5.

Agreed though, I hate new garbage appliances. Finally ditched the old 70s era kenmore vac i got in a free pile. Thing would suck the skin off you still, but SO wasn’t a fan. And UV/ozone had degraded the little plastic there was to nothing.

80s and 90s toyotas. Volvos, yes indeed. Nissan, sure.

#122 crowdedelevatorfartz on 10.29.20 at 10:13 pm

Dolce!

Is THIS why you’re living in Italia?

https://click.e.economist.com/?qs=ad1b4c61f9b736f634ef454323c0ba52d0d489f94d8b761342ca7f09267f089c613cf20a64fe090305d048f3eeede05b4dad3a3cf7d0dc14aa7b43c03bb32595

Flat taxing your billions?

#123 Capt. Serious on 10.29.20 at 10:15 pm

Our company lowered our expected earnings for next fiscal year due to Covid and we’re largely in an in demand industry. The supply and manufacturing chain is stretched and spending patterns of our customers are hard to predict. Things are seizing up a bit. It’s not going to be a fun 12-18 months even if we manage to get a hold of a vaccine.

#124 Dale Benix on 10.29.20 at 10:15 pm

Paulo, I don’t know if the 5 and 10 year rates Eurobond going up by 75 to 100 basis points in the next 10 to 11 months, 3rd quarter 2021.

It seems too much too fast. I would say 45 to 65 basis points in the next 7 to 9 months and then flattening with small up and down movements in rates. This is just my opinion that is all.

#125 Too much on 10.29.20 at 10:17 pm

I agree these ten paragraph essays seem to be taking over always the daily rants by the same people.

#126 Doug t on 10.29.20 at 10:26 pm

#44 dolce vita

Lol no worries mate – I should not be so critical – maybe more people should be less critical haha

#127 crowdedelevatorfartz on 10.29.20 at 10:27 pm

Whew!
Bill Morneau was cleared of receiving “gifts” from WE Charity when he immediately repaid the cost of the vacation his family took on a WE junket to Africa.

Unfortunately, he’s still got to answer for his “conflict of interest” for sitting on the panel that later recommended WE Charity be in control $900 MILLION dollars of Taxpayer money for student cash handouts……

Stay tuned.

#128 Doug t on 10.29.20 at 10:28 pm

#113 apocalypse2020

Right now your sounding just about right :)

#129 TurnerNation on 10.29.20 at 10:35 pm

I never post Utubes but…first 1-15 min of this outlines the seemingly open pointers toward the Blockchain and our DNA and daily control over our lives.

https://www.youtube.com/watch?v=7lva8VsYc7o&feature=emb_title
Presentation excerpts by Alison Hawver McDowell as part of Rutgers New Politics Workshop I: “Politics Online, In and Out of Europe” held online via Zoom on Monday, October 26, 2020

….
Blockchain…I first got that back in July I figured it out by myself.
………………….

#31 TurnerNation on 07.19.20 at 3:54 pm
Uhhh you guys want to see what’s coming in 2021? Currently we are in only Phase 1 of the global rollout, the Compliance Stage. They will not be letting up on us into wintertime, no

A couple of months ago I told you what the Blockchain really is for. (And why Iceland’s CV testing firm is a Genetics company.
Our tax farm farmers will control our feeding and breeding, as in a real farm)
You’ll note Iceland was used as a test bed for the 2008 collapse, they did that country first.

The Blockchain – we do not use for anything in our lives at the moment – will be used for us.
‘All in all we’re just another brick in the wall”

https://www.covidcreds.com/
Supporting projects that use privacy-preserving Verifiable Credentials (VCs) in order to mitigate the spread of COVID-19 and strengthen our societies and economies.

…….

#135 TurnerNation on 08.25.20 at 9:17 am
Don’t forget the war raging globally. Here it comes. I knew they are keeping Sport stadiums closed for a reason.

Our global elites flexed their muscles, shut down the planet and our rights. Keep wearing your Freedom Mask in the hope they are returned. But don’t hold your breath

Blockchain…that thing we use for absolutely nothing. But why? We are the blockchain. Our DNA is being collected (just get your swab, or mail it into them avec a fee). Blockchain = CELL BLOCK CHAIN.
Always our travel rights. But not without the Mark – the A.I. will determine your movements, globally:

[emphasis in original:]

LOOP INSIGHTS AND KABN NORTH AMERICA PARTNER TO LAUNCH AI DRIVEN MERCHANT AND CONSUMER REWARDS PROGRAMS, SECURED BY BIOMETRICS AND BLOCKCHAIN

TOGETHER, THE COMPANIES WILL CREATE A VERIFIED DIGITAL ID CHECK-IN SYSTEM FOR LARGE SCALE VENUES
As the world goes more digital and more “check-ins” are required for contact tracing purposes, KABN NA can also enhance Loop’s contact tracing check-in solution with its proprietary blockchain technology. The global blockchain market size is expected to grow from USD 3.0 billion in 2020 to USD 39.7 billion by 2025
KABN NA’s Liquid Avatar program increases the security within Loop’s services. Customer information and identities are protected by blockchain technology- the highest level of protection.
….

#130 TurnerNation on 10.29.20 at 10:45 pm

As mentioned yesterday what is the “-19” part for?
Many say A is 1st letter of alphabet, ‘I’ is the 9th letter.
Therefore -19 is -A.I.
These guys, from my last post, it’s right there.
Stock symbol is MTRX – as in Matrix?
They are advertising venue tracking. Aka branding and tracking us as cattle.

Let me shout it; GOVERNMENT IS BIG TECH. They create the ‘bubbles’ such that Amazon Web Service (AWS) can profit. The New System is a Technocracy. The A.I. will run it all.
THIS IS A GLOBAL take over. Done deal. Every 1st world country is being shut down and come Q1 2021 we will have…well wait and see I’ve hinted enough.
….
https://www.loopinsights.ai/
Loop Insights = IoT + Artificial Intelligence
Loop Insights Inc. and Amazon Web Services (AWS) will be hosting an interactive webinar to showcase the company’s venue tracing solution to a global audience on Oct. 29.
Loop’s Venue Tracing platform is clearly gaining recognition and third party validation, including implementations with:

Major Las Vegas hospitality chains;
University of Houston;
NCAA #VegasBubble;
Most recently being accepted into the Telus Internet of things marketplace as “one of the most advanced IoT business solutions in the world.”
Recently announced travel bubble solution to help save $3.3-trillion in potential losses for global tourism

On Oct. 19, Loop announced a travel bubble solution to provide end-to-end protection for travellers and the international travel industry.

#131 CL on 10.29.20 at 11:01 pm

I’ll go out on a limb and say Trump is going to win again.

#132 morrey on 10.29.20 at 11:02 pm

1-3% of YVR folks are making big change in RE.
always helps to have easy access to big $ in family banks, or big savings accounts.
There is indeed a big wealth divide taking shape.

#133 zoey on 10.29.20 at 11:25 pm

The Gov and BoC can try and goose RE all they want but they have already been doing that the great financial crisis … oops they didn’t raise them and now they have to bullets. They should have been dropping them from 3.5% not 1.25 ..absolute idiots.

The banks will not lend to many at 1.8% , why should they ? Too much risk.

If COVID2 is here then more jobs will be lost and more than your restaurant server will be on CERB. Except someone earning good money is going to hurt on CERB and we will see sales inventory rising. The two houses across from me that went for sale in downtown Toronto 5 weeks ago are still sitting there with an “exclusive” remax sign on each lawn. Ya exclusive lol

So only the well employed with cash in hand will be buying RE. I see huge downside to RE despite our Gov and the BoC’s shananigans(sp ?).

#134 Dirk Bannerman on 10.29.20 at 11:39 pm

I’ve heard anecdotally that many Mils are saying on social media Reditt and such that free money will be dished out perpetually so saving is twaddle and outspending spending income is the new black. Apparently Instagram purchases are replacing holiday snaps. “Look what I got”, has replaced “Look where I’ve been”.

The free money splurge is the vomit of a massive hangover that’s to set in. When kids are spending three times their income and putting it on Visa because payment can be made with never never money, we’re setting up future demand for a quantum breakdown.

You day you’re shocked? I think we have get past the shock and start running for the exits. What’s going to happen when those millions of entitled recipients need another month from The Bank of Trudeau and find the IMF brick wall?

As for Trudeaus new social programs? Women who don’t work have no need of daycare. Where’s the jobs, Guido?

#135 Handsome Ned on 10.29.20 at 11:39 pm

Just replaced my 33 year old GE appliances. Only problem was replacing compressor on the fridge, around 200 bucks. American made, workers probably got a lower middle class wage and a pension. Got new LG washer and dryer and gulp… Samsung stove, fridge and dishwater. I’m at the age where it is 50 50 who lasts longer, me or the appliances.

#136 Jakob Jachilem on 10.29.20 at 11:47 pm

Whatever happened to kiss, keep it simple stupid. I have no idea about ETF’s and mutual funds, bonds and REIT’s, stock markets, stocks, shares,hedge funds, OSB’s, MIC’s, MBS’s, zero coupon bonds, stripped bonds, bitcoin, crypto currencies etc. It is all confusing to me.

For the last 20 years the only 3 investments that worked for me making money consistently is physical real estate my primary residence, long term GIC’s or term deposits, physical gold maple leaf coins. I split them all by a third each.

My reserve savings, cashable GIC’s are not included in this, counted separately is at 3% of all my net worth or 16 months of monthly expenses. My C.P.P. disability coming in help me financially cushion this reserve, savings even more.

The only other thing I did out of annual expenses concern is I took 20% of my RRSP’s, $55,000, back in 2014 put it in a 10 year term certain annuity with a big Canadian life insurance company which pays $6,500 a year to more than match my annual property taxes, electricity, heating, water bills at that time. It was 20% more than I was paying at that time. My 10 year term certain annuity will be fully depleted by 2024.

This was to help buffer against delays in my C.P.P. disability coming in as I have heard it usually takes minimum 2 to 2.5 years to get it and to have some steady, guaranteed income until I got my OAS. It took me 3 years to qualify for C.P.P disability after 34 years of working full time.

I make sure I max out my RRSP’s, TFSA’s and just my RDSP’s recently for the last 4 years due to disability forced my retirement. I made sure to get my disability tax credit and other tax reductions, credits where possible. I also have minimized my total mortgage, line of credit debt percentage to more than than 20% of net worth since my 55th birthday which has served me well with real estate equity and refinancing when needed.

My total annual rate of return including the only rent from my primary real estate, primary real estate appreciation, annual interest paid from long term GIC’s, term deposits, TFSA, RRSP, RDSP compound interest minus interest, net after commission, gold coins total appreciation minus debt costs from real estate is 8.45% year to date from October-15-2000 to October-15-2020.

All on the spreadsheet, 80 quarters and I don’t expect the same 8.45% annual rate of return for the next 5 to 10 years more like a 30% to 35% reduction or around a 5.5% to 5.9% annual return. This will still give me a minimum 7.5% total return for 25 to 30 years.

Even if I am really incorrect in my 30% to 35% presumptions, forecasts and a more more pessimistic reduction of 60% previous 20 year 8.45% annual rate of return happens, I will still see a 6.62% annual rate of return for 30 years by 2030. Also, in 4.5 years I will be getting my OAS but a reduction in my C.P.P. disability so an overall increase of $400 more a month in income.

#137 Two-thirds on 10.30.20 at 12:01 am

Painted into a corner, Canada is. No going back now.

If real estate does not do the heavy lifting for the economy, what, in the name of everything factual will?

Honestly, what else does Canada have left to offer to the world economy other than agricultural exports?

Oil and gas – taken behind the shed already. Uranium, potash, lumber? Pfft! Manufacturing? Plant closures on automotive and no growth in other sectors. Telecoms? Nortel, Blackberry, ring a bell? Digital economy giants? We have no FAANGs…

Services? Other than banking growing its market share in the USA, what Canadian world-class services do we export?

The great achievements of the 2015 post-Harper era are pot legalization, genderized everything, reflation of the housing bubble, and deficit spending at the government and household levels, and not much else. Superclusters?? Infrastructure bank? Please!

What the heck is a viable alternative to housing propping up the house of cards that is (or what is left of) our economy??

Seriously, any factual, feasible ideas?

We are ultimately ALL pooched, so might as well enjoy the party with borrowed money, on borrowed time…

THAT is our leadership’s example and the legacy they will leave behind on the smoking rubble that once was Canada’s economy.

Oh Canada! (I mourn for you)

#138 Fortune500 on 10.30.20 at 12:05 am

Right … but surely you can concede that anyone standing on the sidelines still will have to pay more for a house in a year, or two, or three, or probably a decade. So if you need one then you have to play the same game as the rest. Regardless of what we think about it, or whether it is financially wise.

You can’t fight the FED and you can’t fight the Canadian government when it comes to real estate.

#139 Long-Time Lurker on 10.30.20 at 12:08 am

This article has a chart for France that is similar to the one I gave earlier for the UK:

Number of New Coronavirus Cases and Deaths Per Day in France

For April, a little over 5,000 infections and 2,000 deaths which is a mortality rate of 40%. For October, around 53,000 infections and around 600 deaths which is a mortality rate of 1.13%.

There are also two charts for Germany:

Coronavirus Cases Per Day in Germany
Coronavirus Deaths Per Day in Germany

In April, 6,000 infections per day and 300 deaths per day which is a 5% mortality rate. In October, 16,000 infections per day and 100 deaths per day which is a 0.625% mortality rate.

https://www.dailymail.co.uk/news/article-8895437/Coronavirus-France-Gridlock-thousands-try-flee-Paris-ahead-new-month-long-lockdown.html

Tens of thousands flee Paris before lockdown: Gridlock for miles, stations are packed and shelves are stripped as month-long coronavirus restrictions that BAN travel begin

By JACK WRIGHT FOR MAILONLINE

PUBLISHED: 20:03 EDT, 29 October 2020 | UPDATED: 23:17 EDT, 29 October 2020

#140 S on 10.30.20 at 12:27 am

“Figure it out. Oil is crazy in trouble. There are four million people on the pogey. Our biggest trading partner is out of control. Whole sectors of the economy won’t be coming back for a few years. The CB is out of bullets. And Ottawa has already spent more money than God.”

https://youtu.be/ppfxyWmYmWo?t=38

#141 Dispirited on 10.30.20 at 1:31 am

Garth, you have been documenting the irresponsible policy response by our leaders…..the world over…..who new interest rates would be taken to 5000 year lows, jacking house prices to inane levels…….rather than slowly increasing rates to make houses more affordable and provide a safe return for most the middle class ie GICs, bonds, pushing people into stocks, where most people get wiped. Played soccer today…no masks, no distancing, hugged people…..general feel of the people is the policy response by our government to the flu has been a crime against humanity. You csis agents who populate this board should take note, the pitchforks and criminal prosecutions for those who perpetrated this nonsense will be held to account, I suggest 10 trillion dollars in damages from the “partners”at the WEF….we’ll start with the Gates foundation and work our way from there…..that should help create more “equality” that you elite seek and you can live in the surveilled 300 square foot dystopia you have envisaged for us. balance sheet repair complete, equality outcome achieved….the great reset achieved.

#142 The Resistance on 10.30.20 at 1:56 am

Garth… the past couple months have been getting real difficult, i’m trying to resist the pull of buying a home esp now that prices are going up again it seems. Currently renting. Single GEN-X parent with kids. Working from home. Life is good, I’m grateful. But really feeling an urge to have a plot of land and RE for my kids futures: take it to the next level finally, be a little (lot?) more comfortable and be settled and committed to a house, a town, a spot, tied down.

The mortgage rates are becoming almost impossible to resist, especially when a rental doesn’t or hasn’t felt like home, or when finding a better rental is impossible cuz there’s nothing out there (except condos). The pandemic is intensifying the unhomeliness and increasing the urge to nest deeply and shelter in place. A bunch of factors are making the resistance more difficult. Must resist the Bank of Canada now too! This cramped rental was supposed to be temporary, until I found a home to raise my kids in. Been renting for a while now after cashing out of RE a few years ago.

Just got a note: my rent is going up about $30 bucks a month soon. Yep, the $30 is probably more symbolic than a cost. Symbolic that I’m not vulnerable to whatever is on the horizon for RE prices, but also not positioned for any gains too if that’s still happening. I’ll be here on the sidelines.

#143 willworkforpickles on 10.30.20 at 4:19 am

Wait until they give all that free cash and more they intend to print away to the ever rising unemployed masses.
With all that free cash circulating, the perception of a depletion of goods by a sudden increased demand exceeding production levels along with the actual swiftly diminished goods supply will force the firms that produce the goods to escalate prices causing rampant inflation.
We’ll see then how the BoC handles that with its low interest rate policy.

#144 willworkforpickles on 10.30.20 at 5:45 am

Take the concept of two guys each with a shovel and a deep dug hole with a pile of earth up top. The guy down in the hole (that would be you owing a million dollars or more on your mortgage convinced interest rates will stay low and house prices will rise forever)
And then the guy up top (a representative of rising interest rates not too future tense)
The guy up top begins to shovel dirt down the hole. The guy in the hole shovels it back out. As the exercise goes on, the guy in the hole begins to tire, while the guy up top is fit as ever.
The guy up top keeps shoveling it in and the guy in the hole eventually runs out of steam. Then the guy up top divisively proclaims…I can shovel the dirt into the hole faster than you can shovel it out as he buries him alive.
There in lies the risk of going in the hole.

#145 Theodore on 10.30.20 at 6:18 am

Biden is toast.

#146 Diamond Dog on 10.30.20 at 6:41 am

So you want to buy a home during a pandemic! Lets see what Zaltana has to say…

https://www.youtube.com/watch?v=EUUwj1wZKLI

Bad luck? Perhaps this trio has something to do with it:

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

Can you spare some tears? (hehehehe)

https://www.youtube.com/watch?v=Bl2bbnsp-so

Don’t be scared, the market is only slightly cursed, you will see (hehehe)

https://www.youtube.com/watch?v=aaiwyox7lWA&list=PLyP0LfRwQvbBJVZg_u_i36fvjVOYPiKBG&index=47

If it doesn’t work out, you can always join, join, join us!:

https://www.youtube.com/watch?v=ddIt1lPGkRc&list=PLyP0LfRwQvbBJVZg_u_i36fvjVOYPiKBG&index=53

#147 Diamond Dog on 10.30.20 at 7:14 am

Ok, on an even less serious note, its good to decompress. Wound tight… tight… super tight…! Time for the Lincoln project:

https://www.youtube.com/watch?v=2JWYSkwpWaY

Wake up!

https://www.youtube.com/watch?v=4TogbPPyQQM

Covid spreader, (caution, offensive language):

https://www.youtube.com/watch?v=_q5kwu-1924

Starts at 17:35, it’s hilarious!:

https://www.youtube.com/watch?v=TLSKOVH3Ek4&t=1250s

Regret:

https://www.youtube.com/watch?v=HvUHLn0iTA8

Herd immunity:

https://www.youtube.com/watch?v=HuUX7zRhMKQ

There are literally hundreds of videos from the Lincoln project that you can find online here:

https://www.youtube.com/c/TheLincolnProject/videos

The Lincoln project is a small group of some of the most successful Republican spin doctors in the political advertising game and these king makers want Trump gone. They aren’t the only ones, plenty of other Republicans and Democrats with deep pockets want Trump gone too. Taking in videos from the Lincoln project reminds us of just how much influence advertising and advertising $ can have on elections in the USA.

This year’s election cycle in the U.S. is unlike any other and the demographic polls flesh this out. This is from a CNN poll:

https://www.cnn.com/2020/10/28/politics/cnn-poll-national-october/index.html

“Women of color (77% Biden to 21% Trump) and White women (54% Biden to 45% Trump) both break for Biden, as do men of color (64% Biden to 28% Trump). White men, however, favor Trump by 56% to 41%.
Those with college degrees favor Biden by 30 points, while those without degrees split evenly. Among White voters, the difference is larger. White voters with college degrees favor Biden 58% to 40%. Those White voters who do not hold a four-year degree are a mirror image, breaking 58% for Trump to 40% for Biden. Among those White voters with degrees, the gender gap is relatively small, but it is a yawning 38 points between White women without degrees (49% Biden to 49% Trump) and White men without degrees (68% Trump to 30% for Biden).
And seniors, who shifted in the Democrats’ direction in the 2018 election, are solidly in Biden’s corner in this poll. Overall, 55% of likely voters age 65 or older back the Democrat, 44% Trump. Biden also leads by a broad margin among voters under age 35 (68% Biden to 30% Trump), while voters between the ages of 35 and 64 are split about evenly between the two candidates (48% back each candidate).” – CNN

There is only one demographic that Trump is leading in and its uneducated male white voters. Is it enough? With the help of voter suppression (crippling U.S. postal delivery of first class mail before the election to suppress mail in ballots thought to be heavy on Democrat votes), can the narcissistic crazy uncle stand up comic heavy on braggadocio and put downs garner enough votes from the uneducated white males to win? Are uneducated male white voters the new kingmakers of the presidency? Not if the Lincoln project has its way. Strange times indeed.

#148 Lauren Drover obese beast on 10.30.20 at 7:46 am

DELETED

#149 TurnerNation on 10.30.20 at 7:59 am

I keep saying there’s no more real news (only predictive programming and propaganda).
Here it it is laid out in the open. They are no longer trying to hide it.
The New System is a corporate Technocracy – of course they will write the ‘news’!
Proof is right here:

“Globe says HSBC caught in CBC branded content imbroglio

The Globe and Mail reports in its Friday edition that the Canadian Broadcasting Corp. is facing an uprising for accepting advertising that critics say amounts to corporate-sponsored “fake news.” The Globe’s Simon Houpt writes that hundreds of current and former staff are expressing “grave concerns” over CBC/Radio-Canada Tandem, a new venture that works with marketers to create and publish what is known as branded content: advertising that looks or sounds like regular editorial coverage. The pitch proposed that Tandem content could appear on most of the broadcaster’s English- and French-language platforms, including the CBC website, podcast pages and audio apps, and TV networks. Branded content produced by the CBC so far includes videos on Radio-Canada’s website about how HSBC is helping entrepreneurs confront the business challenges of COVID-19 and Olympic-themed videos sponsored by Visa. The plans alarmed rank-and-file staff and some of the network’s stars, as well as high-profile former on-air personalities, who have joined a group of more than 400 to press their case through town halls and a flurry of letters to the public broadcaster’s management and board of directors.
© 2020 Canjex Publishing Ltd. All rights reserved.”

#150 BillyBob on 10.30.20 at 8:51 am

https://nationalpost.com/opinion/opinion-its-time-to-talk-about-the-d-word-in-alberta

The positivity and practical thinking of this article brought The Jaguar to mind.

When Alberta does find the way to recover and prosper again – and they will – I just hope they do whatever they have to, to keep that prosperity out of Ottawa’s corrupt hands this time. Enough’s enough.

#151 Michael Bruce Chase on 10.30.20 at 9:10 am

Did you actually say “OK here’s the deal”…..That’s Sleepy Joes expression!!!!

#152 Bytor the Snow Dog on 10.30.20 at 9:13 am

#84 Nonplused on 10.29.20 at 7:18 pm;

Try AMRE Supply for appliance, HVAC, and plumbing parts. A good Canadian company and they have almost EVERYTHING. They even have locations in Calgary and Edmonton so if the parts are in stock you can pick them up.

#153 there is no plan on 10.30.20 at 9:15 am

Sadly, our central bank is bent on rendering the situation worse.
_________________________________________

naw. they’ll make it better by printing a few billion more every month then giving it away in social programs via Trudeau and Singh

that’s “The BIG Plan” inflate inflate inflate

#154 Bytor the Snow Dog on 10.30.20 at 9:15 am

#84 Nonplused on 10.29.20 at 7:18 pm;

Pro tip:

Try AMRE Supply for appliance, HVAC, and plumbing parts. A good Canadian company and they have almost EVERYTHING. They even have locations in Calgary and Edmonton so if the parts are in stock you can pick them up.

#155 Bytor the Snow Dog on 10.30.20 at 9:17 am

#84 Nonplused on 10.29.20 at 7:18 pm;

Let’s try again-Pro tip:

Try AMRE Supply for appliance, HVAC, and plumbing parts. A good Canadian company and they have almost EVERYTHING. They even have locations in Calgary and Edmonton so if the parts are in stock you can pick them up.

#156 Dharma Bum on 10.30.20 at 9:21 am

#72 Kate

Garth, you are shocked? I am not.
——————————————————————–

Ever hear of sarcasm?

No?

I’m shocked!

#157 Wrk.dover on 10.30.20 at 9:30 am

To the guy that advocates driving cheap Corollas, fill the four foot hole in your kitchen with a pair of 24″ fridges on single drawer pedestals to hold bottles and cans on standby.

After 39 years here, I have 15 appliances in my three major buildings, and budget $1/day for replacements. The surplus is always several thousand.

I budget $0/ever for mobile devices, and another $1/day for electronics.

#158 Dharma Bum on 10.30.20 at 9:34 am

#100 Nonplused

You can get 48 inch wide cabinet fridges still and don’t have to go Sub Zero, which are incredibly overpriced.
——————————————————————–

When I reno’d my kitchen 16 years ago, I put in a Sub-Zero. It cost me $7 G’s.

Yikes.

But it is soooooo worth it because the beer and leftovers that come out of it over a decade and a half later still taste exquisitely cool on my tongue.

#159 Do we have all the facts on 10.30.20 at 9:38 am

If you believe that the actions of government should be based on an evaluation of actual facts the last eight months have been extremely difficult.

The facts related to the Covid 19 virus are being manipulated to support the decisions made by governments around the world.

Without any historical context the number of infections generated by one specific virus are being used to create an impression that the Covid 19 virus poses a serious threat of death to healthy populations.

When the actual facts are evaluated it becomes very clear that 96.7 % of all deaths being attributed to the Covid 19 virus in Canada involved citizens over the age of 60 and 89.4 % involved citizens over the age of 80.

On further analysis almost 100% of the deaths attributed to the Covid 19 virus for citizens over the age of 60 involved two or more serious preexisting health issues that also contributed to their death.

If one reads the directive circulated to health authorities around the world by the WHO in April 2020 the number of deaths being attributed to the Covid 19 virus requires additional scrutiny.

The International Guidelines for Certification and Classification (Coding) of Covid 19 as a Cause of Death (WHO April 20 2020) states:

“Covid 19 should be recorded as the cause of death for ALL decedents where the disease caused, or is assumed to have caused, or contributed to death.“

The WHO instructed health authorities to use the classification code UO7.1 Covid 19 ( established in March 2020) as primary cause of death if it was suspected that the Covid 19 virus may have contributed to a death. After April 2020 health concerns such as heart disease, cancer, or diabetes that may have claimed a life within days, weeks or months were to be listed as contributing causes of death on part 2 of a death certificate.

Given that over 1,600,000 Canadians are 80 years or older and that an average of 115 out of every 1000 Canadian citizens 80 years of age or older (185,000) die from a variety of causes every year it seems highly probable that a a significant number of the 7,080 deaths of citizens 80 years or more attributed to the Covid 19 virus in 2020 would have died from a preexisting health issue in 2020.

My point is that the decision by the WHO to code the deaths of hundreds of thousands of people around the
world under UO7.1 Covid 19 solely on the grounds that the virus might have contributed to, or accelerated, the deaths of individuals whose death from other serious heath issues was imminent (within six months) has created unnecessary fear within the healthy population of Canada.

It is certainly possible to improve the health care being provided to our most vulnerable citizens but it is impossible to protect all citizens from a death caused by serious preexisting conditions.

Changing the coding on death certificates to infer that the Covid 19 virus was the primary cause of almost 10,000 additional deaths in Canada is misleading and only serves to fan the flames of fear.

At some point the actual mortality related to the Covid 19 virus must become the basis of our governments policies.

#160 Penny Henny on 10.30.20 at 9:58 am

#100 Nonplused on 10.29.20 at 8:07 pm

My short term strategy if the bellow doesn’t arrive soon is to put some waterproof Gorilla tape on the split and carry on.
///////

Trust me this is what you need. Incredible product.
https://www.tear-aid.com/

#161 Chris Thompson on 10.30.20 at 10:27 am

Why go to Cuba for vacation to help the Castro dictatorship socialist government. There are so many places that are just as good or better to go on vacation and are not for tyranny.

#162 justdeleteitifyoudontlikeit on 10.30.20 at 10:29 am

“[…] a yawning 38 points between White women without degrees (49% Biden to 49% Trump) and White men without degrees (68% Trump to 30% for Biden).”

I’ve been thinking that the underestimated group in this election is married white women who may have voted Trump in 2016, but have been listening to their husbands cheer on Trump’s various uproars and abominations for four years, and are absolutely sick of the man (both of them). He thinks she’s voting for Trump, but that isn’t what’ll happen in the booth.

Anyway, that’s just a pet theory of mine, not really backed up by data save this…

Since Garth has let this place devolve into crackpot central, here’s one for all the crackpots (AND for people who like a good joke). Jade crystals, radio waves, this one has it all. And published in a peer reviewed journal, with the names of bigly universities attached!
https://www.sciencedirect.com/science/article/pii/S0048969720363592
If you liked that joke, googling the lead author gets you a goldmine. Did you know Stonehenge was a giant MRI machine?

#163 Sail Away on 10.30.20 at 10:33 am

#80 Ponzius Pilatus on 10.29.20

As for wages:

My motto has always been “if you can’t pay your staff minimum wages, you’re in the wrong business”.

————–

I tried that with my engineers. They all wanted more.

Must be in the wrong business…

#164 Masks really do make some people more attractive on 10.30.20 at 10:45 am

It looks as though Trump has canceled plans for a celebration on election night…

https://thehill.com/homenews/campaign/523528-trump-changes-election-night-plans-cancels-party-at-trump-international

#165 IHCTD9 on 10.30.20 at 11:03 am

I was thinking last night, seeing Trumps’ popularity climbing and the increased chances of a non-decisive victory next week – that the dozer should get a coat of “Tactical Black” to match the Griz.

I like all the stealth advantages that paint offers. Some may say: “but, doesn’t the ground shake a bit as you approach in that thing?” Well heh, ya it does a bit. A little loud too, I guess. Bugging out into the bush on a crawler is a little noticeable too sometimes with all the stuff getting crunched under the tracks. But still, I think the paint job will seriously increase the stealth factor yuuuge.

Maybe a full armor job too. There will be so many folks who will start doing cartwheels of anger down the street if Trump wins again.

Something like this is looking good:

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

#166 Stan Brooks on 10.30.20 at 11:10 am

#137 Two-thirds on 10.30.20 at 12:01 am

Aligns completely with my view of the situation.
Nothing else left except housing and related services.
Counting down the time to complete venezueliza-tion of the economy and destruction of currency.

#138 Fortune500 on 10.30.20 at 12:05 am

You can’t fight the FED and you can’t fight the Canadian government when it comes to real estate.

You surely can.
Like moving all your assets as far away as you can, out of the reach of the thieves. Yes, your government pension would be destroyed by the inflation. But you still would have something left.

As early as you cut the cancer, the better chances you have.

This one is in terminal state and there is NOTHING that can reverse or change that. The time to act was 2009 but Harper chickened out and propelled the monstrous even at that time housing bubble to new heights. Now we are in an absolute delirium tremens phase and it continuous to get worse.

It is not up to the chief of BoC to encourage further borrowing when at peak debt and to calm down the borrowers, his jobs to ensure stability of the currency.

Yes we know that they will continue lying about inflation while killing savers and retirees.

The guy even had the balls to talk about deflation. Seriously? Which plant does he live on?

Folks, I can’t stress enough the importance of loading on lubricant.

Cheers,

#167 Bob Kosker on 10.30.20 at 11:14 am

If Trump wins, imagine what the democrats will do.

I mean, Americans have literally endured 4 years of a complete hissy fit by Clinton. Will they re-group an actually come up with a platform, or will they once more drum up countless excuses (conspiracy theories)? Will they take to the streets and riot? Burn down buildings?

What happens if the democrats don’t accept a loss?

#168 irrational exuberance on 10.30.20 at 11:24 am

What Garth is saying appears to be holding true even out here in beaten down Alberta. Just last week we looked at a property the first day it was on MLS. After seeing the property we thought about putting in an offer and had our real estate agent run the comps. The asking price was around $130k above the highest sold property for the area and there wasn’t anything particular about the home that could justify that much of a premium.

We checked back with the seller’s agent to see how on earth they came up with the sticker price and we were told that they already had unconditional offers (above asking). It was sold and off MLS the next day.

Initially once the lock down ended, our experience was that nice properties that were priced really well (i.e. at or below market comps), would be under multiple offers within 24 hours from listing. Now we are starting to see nice properties that are priced as though oil is going to $100 a barrel go the same route. We have even seen properties that were delisted when the lock down hit get relisted for 5-10% more and then sell without any trouble. The amount of irrational exuberance in real estate is astounding…low rates are not helping and I fear this will not end well.

#169 TurnerNation on 10.30.20 at 11:27 am

How’s that 2% inflation working out lads?
Supply chain food hikes to be passed on…to us.
Remember this New System rolled out overnight in March is run by the globalists’ corporations. Loblaws, Walmart are owned by the Davos set. So yeah their plans are coming to fruition.

….
“The Globe and Mail reports in its Friday edition that Canadian grocers have used bully tactics for years and they are back at it again. The Globe’s guest columnist Sylvain Charlebois writes that Loblaw told its suppliers this week that they will soon face new fees to support a $6-billion plan to improve its in-store and digital operations. Over the summer, Walmart and Metro announced similar moves, stating similar motivations. Empire’s Sobeys said it will not be following its rivals. Empire boss Michael Medline called the moves “repugnant,” adding he is now in favour of regulation of the industry. Mr. Charlebois says it is about time. The reasons for the new fees largely revolve around e-commerce, given our pandemic-induced appetite for more food deliveries. Mr. Charlebois says digitizing food retailing will be a priority as COVID-19 fades. Mr. Charlebois calls the moves by Loblaw and its rivals “supply-chain bullying.” Big grocers have argued over the years that they are protecting consumers from higher food prices by implementing new fees, claiming they are the guardians of affordable food for consumers. Quebec and British Columbia have shown some interest in implementing a type of code of conduct.
© 2020 Canjex Publishing Ltd. All rights reserved.”

#170 Paul B on 10.30.20 at 12:36 pm

#159 Do we have all the facts

Careful about quoting facts based on numbers. You may be accused of being inconsiderate or not empathetic. That is what really counts.

#171 Dogman01 on 10.30.20 at 12:42 pm

Good Article

https://nationalpost.com/news/world/what-is-the-u-s-electoral-college-and-how-does-it-work

I am sure there will be some questions about how this all works in the coming days.

#172 Bill on 10.30.20 at 12:47 pm

Gath
No diversification, tons of House debt. Most thinking ya my home is my retirment plan…scary. It wont work

Central banks trapped
All govs are broke.
Now they would like to tax your movements. Good thing i got nowhere to go. If one gov gets this past everyone else is next. From CTF

Municipal bureaucrats are pushing for driving taxes.
Metro Vancouver bureaucrats call the scheme “mobility pricing.” But make no mistake: this is a driving tax. The driving tax could cost two car commuter families in places such as Langley and Surrey between $4,000 and $6,000 per year.

There are two new ways that Metro Vancouver and TransLink bureaucrats want to charge you for driving.

The first kind are congestion fees that charge you for going over a bridge or through an intersection.

The second kind is a fee-per-kilometer scheme that could include the government using a tracking device in your car or setting up cameras to take pictures of your license plate.

Under this plan, it could cost you $6.37 to drive one-way over the Port Mann Bridge in the morning and $8.27 coming back after work. That’s $14.64 per day, or more than $3,600 for the year for a full time commuter.

Premier John Horgan refused to rule out the expensive new road taxes when he was asked repeatedly about them by the media.

The bureaucrats are presenting the driving tax proposals to Vancouver city council on TUESDAY.

#173 SoggyShorts on 10.30.20 at 12:48 pm

#119 n1tro on 10.29.20 at 10:03 pm
#112 Faron on 10.29.20 at 9:15 pm
#97 n1tro on 10.29.20 at 8:02 pm

The Trump example should also show people that the stats hold true. To the shagrin of Trump haters, he “survived” and got over covid-19 within a week.

**********************
To be fair, I don’t think he got an average level of care…

#174 Lambchop on 10.30.20 at 12:53 pm

#121 Faron on 10.29.20 at 10:12 pm

Volvos, yes indeed.

__________

I knew you were the Volvo type.

Also, to nobody specific, I am truly curious why people plan to “bug out” to the woods in the event of a catastrophe. This seems counterintuitive, to leave the security of your home/shelter with only what you can carry on your back to sustain you in a hostile environment.

Why not shelter in place, where all your crap is?
I used to volunteer at a municipal Emergency Response Preparedness program and the resident RCMP guy advocated for defending the shelter you are in and keeping a paintball gun by your side.

People die in Canada’s backcountry.

I thought we were getting a federal budget, did I miss it?

ps I hope you guys got your USA election bets in because the odds against a Trump win keep dropping. Last week was 4.7 and today it’s 2.38.

#175 Ace Goodheart on 10.30.20 at 12:58 pm

RE: #159 Do we have all the facts on 10.30.20 at 9:38 am

The situation is kind of sad really.

A lot of people are attributing blame and planning to what is really just a medical cluster – %$^&.

Through medical science, we have been able to prolong the lives of the sick and the elderly, for what are really amazingly long periods of time.

I had a grandfather (now long deceased) who managed to get an extra 15 years’ of life through a combination of medication and heart surgeries. And we got a grandpa out of that (we were kids).

However, as with many miracles, there is a hidden flaw in our medicine.

Many of the medications and therapies that prolong lives, play around with the body’s blood systems, particularly systems that regulate the ACE-2 receptor, which is the receptor used by SARS-2’s spike protein to enter the human cell.

Pretty much anyone who has had heart problems is on medication that makes them especially vulnerable to COVID. Same with many other chronic illnesses. Messing around with blood work is one of the most successful ways modern medicine has of making people live longer.

Now we have a virus that specifically targets the weakened system that our medicine uses to keep people alive.

The result is, when there is a COVID outbreak, hospitals get overwhelmed with people who are either very old, or who have pre-existing conditions. You get massive spill over and the medical system is overwhelmed.

Most of these people should already be dead. But our amazing modern medicine has extended their lives. By playing around with the ACE-2 receptors. Which causes them to be vulnerable to COVID.

So our governments have a choice: overwhelm the hospitals and cull the herd, or lock down.

So far, they have chosen lock down.

How much longer that choice is going to be politically feasible is an open question.

#176 Sail Away on 10.30.20 at 1:01 pm

#170 Paul B on 10.30.20 at 12:36 pm
#159 Do we have all the facts

Careful about quoting facts based on numbers. You may be accused of being inconsiderate or not empathetic. That is what really counts.

———–

Haha, yep. ‘Callous’ even. Because facts and data are only allowed with a solicitous emotive statement of empathy.

#177 Odious Herodias on 10.30.20 at 1:10 pm

“cases”? 50% false positives and we’re talking about “cases”? How about comparing Covid hospitalizations / deals with 2018-2020 season flu hospitalizations / deaths for a true picture of severity.

#178 Faron on 10.30.20 at 1:37 pm

#165 IHCTD9 on 10.30.20 at 11:03 am

Maybe you should release your inner scientist. You have three dozers. Paint one tactical black and another one teen girl squad pink and see which one gets the most notice? Maybe the pink one will be able to slip undetected into the crowd of rioting teens?

I like the imagery of cartwheels of anger. But what if I can’t do a cartwheel? I guess I’ll just be throwing myself on the ground.

I have a serious hate on for the fivethirtyeight. Got the hopes way too high in ’16 in a way that may have outright suppressed the democratic turnout. Obviously, I think a Biden presidency is better for the planet. But, not getting the hopes up.

My pet theory? There are a lot of latin Americans who will vote Trump and that they are undercounted. They will be the underpolled this time around. I think people forget that even recent immigrants don’t always support further immigration. By the second generation they could be downright protective.

#179 Ravi Patel on 10.30.20 at 1:54 pm

We have always been chicken when investing in stock markets, rental real estate , REIT’s, mutual funds etc. We will admit it any day.

We understand buying a home to live in and save rent, keep it as an asset but as an investment to live off never made very much sense for us. It looked too risky.

We were really good, aggressive savers all our lives and finally bit the bullet retiring in 2019 forced out by outsourcing after 36 years. We put all our money, RRSP’s, TFSA’s and non-registered with 40% 30 year fixed term certain guaranteed annuities paying $3,000 a month with 2 big Canadian insurance companies.

The other 60% in 2.70% 10 year CDIC insured GIC’s, 3.30% Manitoba credit union 10 year GIC’s and 15 year provincial bonds in the 2.85% to 2.95% net yields at $99 to $100 priced bonds. This generates $25,560 interest annually. Good thing we can save all this interest every year after income taxes, living expenses etc.

We are in our mid 50’s so we have almost another 10 years until we get our full CPP, OAS so steady, guaranteed income is very important as well capital some expectation of preservation until we are both 65.

#180 Bill on 10.30.20 at 1:54 pm

#3 SeeB on 10.29.20 at 3:27 pm
————-
Well done indeed!
Big biz and big tech dictates policy to our puppets guided also by the UN..Its going to get worse in my view.

#181 Faron on 10.30.20 at 2:02 pm

#119 n1tro on 10.29.20 at 10:03 pm

N1tro my friend, you are getting caught up in your own entrails:

#97 n1tro on 10.29.20 at 8:02 pm

Covid-19 is more contagious than the flu but it isn’t ebola level so why are we being locked like it is?

and then (paraphrasing for brevity not rhetoric):

ebola… if you got it… little chance of affecting others before dropping dead yourself. Also, people tend to stay away from other people who happen to be oozing blood through their pores.

So is ebola infectious or not? (hint, even if people didn’t quickly succumb to it, it’s less infectious)

Should we lock down like ebola (which is not much because, as you say, it’s self limiting) or should we lock down more as we do with COVID which is vastly more communicable?

#182 Sask to AB on 10.30.20 at 2:08 pm

re #3 SeeB on 10.29.20 at 3:27 pm

Thanks your post. Appreciate your insights.

#183 G on 10.30.20 at 2:22 pm

In short, More of Garth honest commentary on current events, as he sees it. But isn’t that why we keep coming back to read his blog after all.

#184 Faron on 10.30.20 at 2:25 pm

#120 Sail Away on 10.29.20 at 10:04 pm
#112 Faron on 10.29.20 at 9:15 pm

It’s ‘gallivant’, Mr. Academic.

‘Galavant’ is an American musical fantasy comedy television series.

You’re welcome.

Ah, thanks babe *pat on the buns*. Hey, I could use a personal asisstant. Drop me your number and I’ll dictate my next missive to you. It bruises my ego to be caught making such eggregious spelling mistakes. Oh, and could you order some flowers for my Fiance? Just send them to the CHAZ/CHOP, they’ll make it to her. Thks.

Seriously though.

No, seriously, our friend Bill here (no offence meant Bill) isn’t the best speller, nor does he have great grammar. He and I also don’t agree on many topics. But, he comes across as more interesting, more human, more generous, with a fuller life and just a good person to be around. Sail Away, you have perfect spelling and grammar (but who am I to say, right?). Yet, you come across as a greedy, sterile, and cold if not outright callous perfectionist. What a drag. Granted, it may just be a persona. But, if not, you are anonymous here. Infinitely more so than I. Loosen up or stop compensating for whatever is missing in that life of yours and just be a human.

#185 n1tro on 10.30.20 at 2:29 pm

#181 Faron on 10.30.20 at 2:02 pm
#119 n1tro on 10.29.20 at 10:03 pm
————-
I would think you should know my position on lock downs. None. If my position isn’t clear.

No more lock downs as they don’t work.

No more stupid half thought out rules as they don’t work.

#186 Sail Away on 10.30.20 at 2:35 pm

#178 Faron on 10.30.20 at 1:37 pm
#165 IHCTD9 on 10.30.20 at 11:03 am

I like the imagery of cartwheels of anger. But what if I can’t do a cartwheel? I guess I’ll just be throwing myself on the ground.

My pet theory? There are a lot of latin Americans who will vote Trump and that they are undercounted. They will be the underpolled this time around. I think people forget that even recent immigrants don’t always support further immigration. By the second generation they could be downright protective.

————–

Don’t throw yourself on the ground. That would just appear petulant. Cartwheels are joyous whether done in anger or otherwise. Joyous anger. Like killer clowns.

Do you in part think Latin Americans will vote Repub because I mentioned my 1,000+ Latin American relatives will vote 90% Trump? Have I been instrumental in expanding your worldview? Aw..

#187 willworkforpickles on 10.30.20 at 2:37 pm

#3 SeeB
#180 Bill
#182 Sask to AB

I agree also with regard to the big picture…but there’s a bigger picture to all of this yet still beyond big biz and big tech.

#188 Ustabe on 10.30.20 at 3:02 pm

It’s ‘gallivant’, Mr. Academic.

‘Galavant’ is an American musical fantasy comedy television series.

You’re welcome.

galavant verb
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gal·​a·​vant
less common spelling of gallivant

intransitive verb
1 informal : to travel, roam, or move about for pleasure been gallivanting all over town
2 dated, informal : to go about usually ostentatiously or indiscreetly with members of the opposite sex

#189 Penny Henny on 10.30.20 at 3:06 pm

#179 Ravi Patel on 10.30.20 at 1:54 pm

We are in our mid 50’s so we have almost another 10 years until we get our full CPP, OAS so steady, guaranteed income is very important as well capital some expectation of preservation until we are both 65.

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

If you have stopped working completely (no part time even) you may want to investigate the benefits of taking CPP early.
“When you take CPP at 60, your benefits are based on your best 35 years of earnings, rather than your best 39 years of earnings if you were to take it at 65. Depending on your earnings from age 18 to 54, your CPP payments might still be close to the maximum if you take it at age 60, but it will definitely be reduced if you wait until age 65.”

https://boomerandecho.com/take-cpp-at-age-60/#:~:text=Simply%20put%2C%20without%20sufficient%20income,month%20after%20your%2060th%20birthday.&text=That%20amount%20would%20be%20reduced,to%20take%20CPP%20at%2060.

#190 James on 10.30.20 at 3:10 pm

#34 dogwhistle on 10.29.20 at 4:11 pm
#5 James on 10.29.20 at 3:28 pm
tsk, tsk, tsk, Millennials and the fossils that did not save for a rainy year should have known better. I always have been a proponent of having one years wages ready to go in the bank. It takes a long hard look at your spending, especially discretionary spending to do this. Not wining and dining, no three trips to Cabo per year and that new BMW can wait. Living for now has its consequences.
——————————————————-
Cute.
Maybe the millennial is the nurse that will take care of you when you big manly man (you’re a dude right?)
catches the flu.
Maybe that other person has had a different journey to yours (oh mighty know it all) maybe he had to take care of a relative dying from cancer and couldn’t save on year of wages.
People like you, Faron, sailaway are turning me off this blog. There’s a nasty tilt since March 2020 that brings out all the smaller fools (see what I did there? me so clever with big trucknutz) and I’m pretty convinced the author of the said blog has noticed the change.
I wish you well and hope you won’t fall on the side of the road in your life.
PS: the number of typos in your post makes me doubt you’d be able to save anything out of your minimum wage. See it’s so easy to attack people. so easy. lol
__________________________________________
One typo off of my not so smartphone and big thumbs. Jesus Christ where were you during the smoking Man days? Wake up sleepy head.
Anyway don’t worry about me Bucko, I’m set for life with my own company and as far as medical support, my Father, sister and one niece are all in the medical field as a Doctor, Nurse and a Medical Imaging Scientist. So I am good!

#191 David Greene on 10.30.20 at 9:04 pm

Please cite your authoritative/reputable source for 50% false positives? The worst possible hypotheses I’ve seen are not nearly that bad.

Odious Herodias on 10.30.20 at 1:10 pm

“cases”? 50% false positives and we’re talking about “cases”? How about comparing Covid hospitalizations / deals with 2018-2020 season flu hospitalizations / deaths for a true picture of severity.

#192 justdeleteitifyoudontlikeit on 10.31.20 at 7:52 am

“Americans have literally endured 4 years of a complete hissy fit by Clinton.”

Democrats stopped talking about her, and listening to her, four years ago. Nothing more quickly marks you as a consumer of right wing ‘news’ than mentioning Clinton.

Don’t believe me?
https://trends.google.com/trends/explore?geo=US&q=clinton

Talking about Clinton is mostly a red state thing.