The gush

The first trickles of vax will arrive soon. Good. Cannot come soon enough. After all, I spent the last year growing a manly handlebar moustache (to divert attention from the rest of my chops) and hiding it under a mask is criminal. It longs to blow in the wind. We’re all being asked to sacrifice.

Apparently, however, the slimy little pathogen has been doing a lot to grease people’s savings accounts. It raises some serious questions about Ottawa’s pandemic spending orgy and (as you know) helps explain why real estate would boom during an historic recession.

The latest Nik Nanos poll is telling. In the middle of the Second Wave and record infections, Canadians are feeling positively frisky. Consumer confidence sits at the highest level in eight months – since way back when life was normal in March. Now 45% believe real estate prices – currently at all-time highs – will be higher still in six months. Two-thirds believe their jobs are secure. And, as you may know, financial markets have been on a tear – with stocks hitting peaks during the best November ever.

This makes no sense. The economy sucks. Millions are still unemployed. Airlines, restaurants and tourism are kaput. Toronto’s locked down. Drake is missing. The virus news gets worse daily (except for Drake). And yet personal finances are… improving? Huh?

Look at the recent report from the OECD, comparing us to the rest of the industrialized world. Household incomes in Canada actually rose in Q2 by a massive 11%. Compare that to big drops in what families earned in Britain, France, the US or Germany. Weird.

When it comes to savings, things become more detached from reality. Before Covid households were putting away 3% of what they earned, about half the long-term average. Then the bug struck. The economy was turned off. Unemployment spiked. Recession ensued. And the savings rate surged from 3% to 28%. Stunning. Since then it has declined to 14%, still twice the amount socked away annually over the previous forty years.

Source: Statistics Canada, National Post

A CIBC report says this amounts to a $90 billion pile of dough. And all those hard-hit businesses have squirreled away another $80 billion. The guys at online EQ Bank confirm it – savings accounts there are brimming with $4 billion, up a billion in a few months.

How did this happen?

Simple. The federal government went completely nuts when the virus showed up, with the prime minister hitting the SPEND button as no politician had done before. This is how we got a $383-billion one-year deficit, which is $327 billion bigger than any shortfall ever seen before. Canada has spent more money on virus mitigation than any other nation, on a per-capita basis, and also as a share of the economy. The cash found its way into houses, into financial assets and has stuffed personal and corporate bank accounts. Worse, it seems to have flowed disproportionately into the hands of higher-income earners. You know. Folks like you. The WFH crowd.

“A lot of that money went toward people who didn’t need it, who just banked it,” says economist Philip Cross. “Quite rightly, we told people that we would compensate them for lockdowns that were beyond their control. But we did more than compensate.” It’s like my suspender-snapping, portfolio manager Buddy Ryan wrote on the blog last weekend – this has created a K-shaped recovery. Some people are doing great. Many are bearing the brunt.

Look at Justin Trudeau’s pandemic spending, compared with that of the USA:

Source: Scotiabank Economics

Says CIBC economist Benny Tal: “This is the first recession that income is actually rising, reflecting the fact that government transfers were actually larger than the amount of money lost in the labour market.” Meanwhile businesses and organizations have been pocketing the free bucks associated with emergency business loans. Just as those claiming hardship got $2,000 a month in CERB cash, so corporations with their hands out have been given no-strings $40,000 loans to spend, invest or save. They need only give back  thirty grand, keeping ten as a Trudeau gift. (Now the limit’s been raised to $60,000, with the grant portion increased to $20,000.)

On Monday Deloitte economist Craig Alexander said the deficit this year will probably hit $400 billion. Last week the FM, Chystia Freeland, said the T2 gang is planning on spending $100 billion more next year and beyond on a ‘reimagined’ economy.

‘Never let a crisis go to waste.’ Now you know what that means.

What are the implications of this?

You’re already seeing some of it. Combined with vax optimism, this river of largesse flowed into financial markets, helping kick assets to new levels. Ditto for houses, especially now that CBs have crashed interest rates to historic lows, inflating real estate. Likewise for building materials (priced a 2×4 lately?), appliance sales, quads, bikes, sleds and now even Christmas trees.

Coming as soon as the economy reopens, retailers revive, lockdowns end and shopping returns is a tsunami of consumer spending, especially since experts say most of the Trudeau cash is idling in chequing accounts. This will help goose economic growth in later 2021 and again in 2022, now estimated to top 5%. That’s huge.

And with it all will come more expensive real estate, an urban condo revival, plumped-up investment portfolios, a serious return of inflation and, inevitably, higher interest rates as the bond market starts calling the shots. Oh, more taxes, too. And you’ll have to buy new pants to wear back to the office. So save money for that.

Now, I’m off to find moustache wax. It’s a thing. Really.

Source: Financial Advisors 2021 Stud Calendar

 

194 comments ↓

#1 Danforth on 12.07.20 at 2:28 pm

Please note that handlebar moustaches look best when presented without an accompanying beard !

#2 looking up on 12.07.20 at 2:33 pm

Sooooooo you’re saying its time to buy real estate?

#3 KNOW IT ALL on 12.07.20 at 2:36 pm

TRUDEAU BUCKS!!!

CHRYSTIA CASH!!

KEEP ER’ COMING……

#4 Ancient Ron on 12.07.20 at 2:57 pm

That stash is freighting.

I must confess, I have no idea how this ends. These are uncharted waters. If I was to guess, and it is only a guess, I say “stagflation”.

The inflation part happens when too many dollars chase too few goods and services

The stagnation part happens when the underlying economic fundamentals are rotted.

#5 BlogDog123 on 12.07.20 at 3:00 pm

more taxes coming to scoop up that overpayment like in this Simpsons clip:

Bear Patrol Tax:
https://youtu.be/OkV_ztynYDM?t=193

#6 Steerage science on 12.07.20 at 3:01 pm

The wonderous power of science… roll up your sleeve to win

Create synthetic mRNA in days to direct the cellular machinery of your cells to make a tiny key piece of protein of the virus that then primes your immune system to be ready to go…..

Cool cool science… Nobel prize level stuff.

https://www.telegraph.co.uk/news/2020/12/02/power-science-has-delivered-best-possible-news-ghastly-year/

#7 Keith on 12.07.20 at 3:05 pm

The outcomes of the pandemic can be quite interesting on the micro level. Ikea has about 10,000 or so items in their product range, including a few desks designed for children. That tiny fraction of their items on offer qualified them as an essential service, so they have stayed open through almost the entire pandemic.

Not only has Ikea stayed open, they qualified for the wage subsidy as well, and possibly a rental subsidy, paid by Ikea’s retail division to Ikea’s property ownership and management division. While small businesses across the land have closed, some of the biggest have done quite well. I have to believe the WFH reality and continued appetite for real estate has shown up in Ikea’s sales to some degree.

At the end of the day, there will be very few Canadians or businesses that did not receive some form of government subsidy or compensation – quite the illustration of how need for assistance exists on a continuum, while government solutions tend towards one size fits all.

It’s interesting to note that in the seventies, 90% of people who lost their jobs qualified for EI. Since that time, both Liberal and Conservative administrations have participated in a combination of increased payroll tax in the form of EI premiums, and ever more restrictive qualifying criteria, to the point where today only 60% of people who lose their job qualify for EI. The surplus generated by increased revenue and decreased eligibility has of course ended up in general revenue.

The Liberals have played some pretty cynical politics with the pandemic, even a basic criteria of needs based qualification for the government lolly would have meant tens of billions in less spending. It seems that the credo of not letting a crisis go to waste will manifest as a crude and expensive form of vote buying that has perhaps most sadly hurt the small business sector the most. The pandemic will end, but the financial hangover for taxpayers will just barely be underway.

#8 TurnerNation on 12.07.20 at 3:08 pm

What the…that’s not a dog on the blog! :)
Only half jokingly how long until Govt orders non-essential moustaches shaved to ‘prevent the spread’…

Moving on some cheerful usual stuff, main stream sourced:

General Observations, social:
– in Jan 2020 they taught the world the term ‘anti vax’ it was all over the internet, news sites and Reddit etc. Boy that was good timing eg?
– We went so fast from 2 Weeks to flatten; to Mandatory this and that. I’ve read elsewhere the world was conquered using only two terms: Asymptomatic, and Mandatory.
Why can’t you hang out in pub with your mates, you are all healthy? Why must the pub be shut down, employees laid off? Answer: Asymptomatic! See what it did? It’s different this time alright.

Kanada every big city and small province must be shut down by Christmastime. To stop the spread of Capitalism. In fact premiers even specifically ban this gatherin. Everyone must be laid off. Are you healthy? Too bad: Asymptomatic.

Which leads to control over our Movements, Breeding and Feeding.

1. How long until other farm animals are culled? They big global players know what’s coming and got into the fake meat/lab-based meat business a few years ago. So uhh are minks sneezing? covid toes? (That didn’t age well…).

https://www.youtube.com/watch?v=Zh8jAcICnZc&feature=emb_title

CBC: “B.C. officials declare COVID-19 outbreak on mink farm”

2. Get used to being tracked as Cattle. The Corporations will be rolling our and enforcing this. For our health of course. Hey I wonder whether or not Air Canada had to do this in order to get federal funds. I mean for our health of course. Ps all those Apple watches…yeah I bet they will do the below, too:

“Later this month, Facedrive Health will deliver Air Canada with additional TraceSCAN Bluetooth wearable contact tracing devices. On top of the wrist band version of the wearable devices currently in use by Air Canada, employees will have the option to wear a key fob version that can attach to a lanyard—providing more variety of use. With a 99% adoption rate amongst participating employees and over 30,000 interactions tracked to date, the integration of TraceSCAN has been effective. During the period of pilot, TraceSCAN team has also enhanced their contact tracing platform with additional features such as real-time interaction analytics, advanced risk calculation algorithms and graphical representation of contact histories.”

#9 crowdedelevatorfartz on 12.07.20 at 3:09 pm

The amount of unnecessary debt that has been foisted upon the Canadian taxpayer is …… criminal.

#10 SoggyShorts on 12.07.20 at 3:13 pm

In case you missed it
#29 Huh? on 12.06.20 at 1:21 pm
…. sticking our arms out for a virus that has a 99% + chance of not doing any of us any harm…
************************
WRONG

Possible side effects of a vaccine? Unknown.

Side effects of cathing Covid-19?

The most common signs and symptoms that linger over time include:

♦Fatigue
♦Shortness of breath
♦Cough
♦Joint pain
♦Chest pain

Other long-term signs and symptoms may include:
♦Muscle pain or headache
♦Fast or pounding heartbeat
♦Loss of smell or taste
♦Memory, concentration or sleep problems
♦Rash or hair loss

Organ damage caused by COVID-19
Although COVID-19 is seen as a disease that primarily affects the lungs, it can damage many other organs as well. This organ damage may increase the risk of long-term health problems. Organs that may be affected by COVID-19 include:

Heart. Imaging tests taken months after recovery from COVID-19 have shownlasting damage to the heart muscle, even in people who experienced only mild COVID-19 symptoms. This may increase the risk of heart failure or other heart complications in the future.
Lungs. The type of pneumonia often associated with COVID-19 can cause long-standing damage to the tiny air sacs (alveoli) in the lungs. The resulting scar tissue can lead to long-term breathing problems.
Brain. Even in young people, COVID-19 can cause strokes, seizures and Guillain-Barre syndrome — a condition that causes temporary paralysis. COVID-19 may also increase the risk of developing Parkinson’s disease and Alzheimer’s disease.

This is why being “vaccine-hesitant” doesn’t make sense.We know for a fact that while most people infected with Covid recovery quickly, there are very serious long term side effects that can happen.
The logical thing to do is to compare two

So far:
Zero deaths from vaccines vs 1,500,000 deaths from covid.
Zero know side effects from vaccines vs that huge ass list above.

No one is asking you “to go first” Tens of thousands of test subjects already have, and millions will still be in line in front of you. It doesn’t make any sense not to get in line though.

https://www.mayoclinic.org/diseases-conditions/coronavirus/in-depth/coronavirus-long-term-effects/art-20490351

#11 SunShowers on 12.07.20 at 3:13 pm

I don’t think it’s particularly fair to compare the fiscal impact of Canada’s response to covid (which most felt appropriate, if a bit generous), to that of the USA, which everyone agrees was woefully insufficient.

It’s also a little premature to judge the total budgetary impact of CERB right now, as it is a TAXABLE benefit. Sure Trudeau forked out mountains of dough, but it will be taxed at people’s marginal rates come early next year (and some will likely be clawed back entirely if feds see the CERB claimant had regular income), and the ocean of red ink will be somewhat offset by a larger-than-normal spilling of black ink.

#12 Anonymous on 12.07.20 at 3:19 pm

“This will help goose economic growth in later 2021 and again in 2002, now estimated to top 5%. That’s huge.” There is a typo here if you meant 2022. Thank you for the daily blogposts and the education.

#13 complicated on 12.07.20 at 3:20 pm

So Garth are you throwing in the towel and admitting that real estate is going higher? I thought real estate was supposed to collapse..so now its up up and away?

#14 MASK FACTS on 12.07.20 at 3:25 pm

Facial hair makes masks useless.

Please shave down your beards to make the masks effective, otherwise you may as well not bother wearing it.

https://www.ctvnews.ca/health/coronavirus/to-shave-or-not-to-shave-how-do-beards-impact-the-effectiveness-of-face-masks-1.5211891

#15 The Woosh on 12.07.20 at 3:30 pm

This makes no sense. The economy sucks. Millions are still unemployed. Airlines, restaurants and tourism are kaput. Toronto’s locked down. Drake is missing. The virus news gets worse daily (except for Drake). And yet personal finances are… improving? Huh?

—————————————

It’s like I said to a colleague many moons ago. “We could get rid of most of these head office folks on our floor (about 200 people) and it would have no negative impact on the company’s bottom line other than reducing a good chunk of payroll”. All they said back to me was “shushhhh…don’t spoil a good thing!”

Maybe we never really needed all those industries you mentioned. No real impact to the overall economy. Go figure?!?!

#16 Apocalypse2020 on 12.07.20 at 3:35 pm

“This makes no sense.”

Exactly. We are in a state of chaos, largely unacknowledged. This is one element, the economy.

We must honour and remember the lessons, the lives lost in the past. Learn from the chaos lived through.

December 7, 1941. We honour the heroes who fought that brutal attack.

But…

What is coming in the months ahead will be 1,000,000 times worse than Pearl Harbor.

https://thehill.com/opinion/national-security/528844-a-nuclear-pearl-harbor-in-our-future

PREPARE

#17 Bezengy on 12.07.20 at 3:37 pm

400 b?, so if there our 10 m Canadians who could be considered taxpayers, that would mean their share is 40k each?, minus the $250 dollar check they got for the kid or whatever. Awesome!

#18 the Jaguar on 12.07.20 at 3:38 pm

Pretty sure I wouldn’t be alone in observing so small business owners used government funds for expansion, renovation, etc. Hard to know how to feel about it, when other big box stores were allowed to stay open during lockdown because they sold ‘food’.
Speaking of food, did a small grocery shop for some fresh vegetables this morning and prices sure have inched up in some categories…..
That concern aside, the bulk carrots looked like they had been in a prize fight. Mercy.

#19 CJohnC on 12.07.20 at 3:39 pm

“Two-thirds believe their jobs are secure.”

I didn’t realize that many people were on the payroll of some level of government

#20 Macduff on 12.07.20 at 3:43 pm

Garth, can you post a photo of True Dough Mania, the game that was so popular in the early 1980s?

#21 Dolce Vita on 12.07.20 at 3:45 pm

What you wrote about today Garth will continue until the end of 2021, at least.

Even ahead of the rest of us in the (swear word) EU the United Kingdom reckons end of 2021 before herd immunity and getting back to “normal” (recall from the 1st jab it takes 31 days to get immunity).

Though not all in the EU without vaccination for now, this from España:

https://english.elpais.com/society/2020-12-07/the-first-spaniards-to-get-the-coronavirus-vaccine-cross-border-workers-in-gibraltar.html

Clever Spanish.

Of course I Tweeted Ursula von der Leyen and her sidekick Charles Michel (and PM Conte and Speranza) the above article just to rub their Adeste Fideles Team Europa (swear word) noses in it.

Children born out of wedlock is what the are if you ask me. If they deport me for my Twitter salvos, make it the UK…PLEASE.

United Kingdom:

THE BEST OF LUCK tomorrow!

Jab your hearts out.

———————

Saw this:

“CTV National News: Vaccine trial run”

Ya, it’ll be dry.

No vaccine. Lots of dry ice.

Hope they provide an update on how it went.

All I want to see is the Cryo Aircraft, Cryo Helicopters (Cryo Snowmobiles too if they have any).

———————

PS:

Poor Italia.

Italians today wanting to know what the latest “Grinch who stole Christmas” decree fines will be? How much?

I’ll leave that last one up to your imagination as to why…

#22 Catalyst on 12.07.20 at 3:45 pm

Inflation is coming. It always sounds like winter is coming to me nowadays. It is said so often it is comical at this point.

Asset inflation is undeniable because of printed money. The fed prints money and buys bonds, bonds pay nothing because of incredible demand, investors cant rely on 60/40 stock/bond allocation and now have 40% of their portfolio in cash and don’t know what to do with it. I don’t think this is great use of the money printer but it’s not my call.

Inflation has not come and will not come because of two primary things:

1) they control the calculation of it so it will be held between 0-2% for political reasons.

2) technology is exploding productivity and growth but deflating wages and employment. Capitalism and technology are both deflationary by nature in that they try and make goods/services cheaper than someone else can make them and we are in the middle of a tech revolution.

#23 When Will They Raise Rates? on 12.07.20 at 3:47 pm

#6 Steerage science on 12.07.20 at 3:01 pm

The wonderous power of science… roll up your sleeve to win

Create synthetic mRNA in days to direct the cellular machinery of your cells to make a tiny key piece of protein of the virus that then primes your immune system to be ready to go…..

Cool cool science… Nobel prize level stuff.

https://www.telegraph.co.uk/news/2020/12/02/power-science-has-delivered-best-possible-news-ghastly-year/

———————-

Cool cool science indeed. Let’s hope that there are no unintended consequences:

Head of Pfizer Research: Covid Vaccine is Female Sterilization

“The vaccinations are expected to produce antibodies against spike proteins of SARS-CoV-2. However, spike proteins also contain syncytin-homologous proteins, which are essential for the formation of the placenta in mammals such as humans. It must be absolutely ruled out that a vaccine against SARS-CoV-2 could trigger an immune reaction against syncytin-1, as otherwise infertility of indefinite duration could result in vaccinated women”

https://wearethene.ws/notable/175793

#24 Erick on 12.07.20 at 3:49 pm

I find it really fascinating to see everyone making predictions, as if anyone knows what is going to happen in 6, 12 and 18 months from now …

#25 TalkingPie on 12.07.20 at 4:02 pm

I’m one of the ones “benefiting” from Trudeau’s largesse.

With aviation still going nowhere, I’ve been off of work since May. In that same month, I started applying to jobs. The only one I got called in for an interview for, 4 months later, was as a letter carrier for Canada Post. Did the training and have been on call since. Since my application in May, and the end of my training in early October, I’ve been called to officially work (ie: not in a training capacity) a whopping two days. Have been applying to all sorts of things along the way. No callbacks, except for one video interview with, surprisingly, an airline.

Speaking with fellow laid-off colleagues and reading on forums, I’m far from alone. The employers who are crying about not being able to find people to work are the ones who aren’t paying living wages. If you’re looking in the $50k+ range, it’s very slim pickings except for trucking and construction trades.

“Lucky” for me, I’ve been on the dole since May and can continue to be until next October, which is crazy. Of course, at less than half my previous salary, I’m not out buying snowmobiles or even building supplies (would love to use my free time to do some work around the house, but feel guilty spending the money until I know where my next earned paycheck is coming from). I’m doing a lot better than many since I’m able to tread water after cutting off most discretionary spending, and a few months at home in the summer was nice, but I’d rather be working and earning.

#26 SeeB on 12.07.20 at 4:04 pm

You’re already seeing some of it. Combined with vax optimism, this river of largesse flowed into financial markets, helping kick assets to new levels.
————————————————————-
Hmm, greedy Canadians taking advantage of the CERB continues to be a favourite meme for many. Since this is a right-wing talking point, I’ll start with a right-wing source:

https://nationalpost.com/news/politics/household-savings-in-canada-skyrocket-during-pandemic-as-ottawa-doles-out-billions-in-emergency-benefits

Please note this was NOT an opinion piece, this is their “reporting”.

I am hardly surprised that the Macdonald-Laurier Institute, and ardently right-wing, neo-liberal outfit would be “super duper bummed” about Canadian tax dollars handed back to the people, while not mentioning the flip-side of “skyrocketing” corporate and business earnings and the impact the CERB has had on those. Right-wing, neo-lib Friendly publications such as the NP clearly aren’t interested in digging into that a little bit further; better to let the reader assume it’s greedy welfare kings and queens.

Use of loaded language in journalism like “Skyrocket” and “Dole” in the title, use of language like “hoarding another $80 billion” to describe regular Canadians, while the activities of large companies literally hoarding cash is not worth mentioning:

https://news.bloombergtax.com/daily-tax-report-international/canada-top-court-to-hear-billion-dollar-tax-haven-case-appeal

Hilarious since the same M-L Institute ran a piece back in July on how “prescient” companies were for hoarding cash:

https://www.macdonaldlaurier.ca/suddenly-dead-money-dead-idea/

Which was an excerpt from a Financial Post article. These think tanks and RW publications are very incestuous, in case you haven’t already noticed:

https://financialpost.com/opinion/philip-cross-suddenly-dead-money-is-a-dead-idea

Trudeau and his Liberal party, being the good little centrist neo-libs they are, continue to pay lip service to correcting these issues:

https://www.thestar.com/politics/federal/2020/04/29/justin-trudeaus-position-on-covid-19-bailouts-for-tax-haven-companies-gets-murkier.html

Since so many of the corporate entities that operate in Canada are based in the USA, it’s relevant to look at their hoarding practices too:

https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/us-companies-hoarding-cash-seen-dragging-on-recovery-until-coronavirus-beaten-59263746

***

There are few details available about what the post CERB savings mean, and what their intended purpose might be beyond consumer spending. Also, why is it assumed that people should be spending every dollar of that support? Should they not take personal responsibility to absorb possible future shocks through savings, much like those “prescient” companies the NP and M-L Institute vaunted last summer?

So, does this mean we ”should” be upset because people might be worried that the taps may be shut off at any moment and are keeping some money for down the road? Or, is this strictly greed on the part of the Canadian people by taking advantage of a government who desperately wants their support? Maybe both in some cases, or something else entirely…

How many people who took the payments needed it vs. those that did not? What is the criteria used to separate these cohorts? The language used in the NP article casts a very wide and nebulous net in that regard.

So, since the details are so hazy, who’s to say many of these people aren’t putting money away in order to have an emergency fund for the first time in their lives? Yeah, it’s their fault for buying property they can’t afford and spending beyond their means, but it’s also the faults of banks and governments continuing to propagandize home ownership for all these years, and the failure of education with regards to personal finance. Like it or not, this is the reality we face.

***

What also bothers me, is the idea that the ENTIRETY of Canadian consumers having saved 90 Billion dollars, and Canadian small business saving 80 Billion, is somehow a massive “horde”. It’s a sad amount when compared to the amount horded by US and/or Canada corporations in offshore tax havens, to the tune of $51 Billion in uncollected taxes per year since 2016 alone:

https://www.thestar.com/news/investigations/2019/06/20/legal-tax-dodges-cost-canada-25b-pbo-study-says.html?rf

However, those same companies will BENEFIT FURTHER when Canadians inevitably start spending again:

https://www.theglobeandmail.com/investing/markets/inside-the-market/article-large-pile-of-cash-awaits-corporate-canada-when-spending-ways-return/

Admittedly, the CERB experiment has been “expensive” for a country unable to tax the corporate overlords at a commensurate rate to what is needed to combat the crisis due to “tax competitiveness” considerations and unwillingness to close loopholes, even as their profits and market valuations SKYROCKET…

#27 SunShowers on 12.07.20 at 4:05 pm

#23 When Will They Raise Rates? on 12.07.20 at 3:47 pm

More misinformation, may want to address this, Garth?

https://www.snopes.com/fact-check/covid-vaccine-female-sterilization/

#28 cramar on 12.07.20 at 4:06 pm

The CBC last evening carried the news that Trudeau has spent $240 Billion on covid relief from March until the end of Nov. They call the feature the “Big Spend,” and are trying to determine exactly where the money went.

They also did a feature on the booming cottage-country RE market. Might as well WFH on the shores of a lake far from the maddening crowd! Hence prices up bigly.

Also Alberta has the highest COVID cases per hundred thousand, and seem to have the most vocal group of anti-mask militants. The Texas of Canada! Perhaps on January 21, Trump could run for President of Alberta. He’d feel right at home.

#29 Dolce Vita on 12.07.20 at 4:08 pm

#24 Erick

Such a Killjoy.

Half the fun of the Blog is reading what people think about what Garth wrote about…well, most of them anyway.

#30 Ponzius Pilatus on 12.07.20 at 4:16 pm

Turner Nation
What are your contacts saying about the Neoliths?
I think it’s the same creatures who did the crop circles.

#31 Naftaly Frenkel on 12.07.20 at 4:18 pm

Soon we will be like some warped Victorians. A glimpse of someone’s uncovered lips will send ladies grasping for their pearls. Feinting at the sight of a bare uncovered chin.

#32 I’m stupid on 12.07.20 at 4:19 pm

This pandemic has made it socially acceptable to be on welfare. I remember when being on welfare was an embarrassment, those days are long gone now. Smh

#33 DON on 12.07.20 at 4:23 pm

#13 complicated on 12.07.20 at 3:20 pm
So Garth are you throwing in the towel and admitting that real estate is going higher? I thought real estate was supposed to collapse..so now its up up and away?

********

Expensive in terms of an increase in interest rates relelative to 5% GDP and consumer spending.

#34 Paul on 12.07.20 at 4:24 pm

Wow ,50 % of the New York Fire Department in a survey said they won’t get a vaccine!

#35 Dolce Vita on 12.07.20 at 4:25 pm

Garth, aside from your mugshot, THAT has to be one of the most depressing Blogs you have written in a long time.

So basically you have CORRUPT people that took money from the Government that didn’t need it, a Government that does not care and in fact, wants to spend even more money on their “vision” of the future, fast making Canada into a nation indebted up to its eyebrows.

Add to that a nation that has lost all common sense, recession RE up with high unemployment, GDP Sectors eviscerated, etc.

Makes me FEEL GOOD about having moved to threadbare Italia from an economic and CORRUPT Government (Lavalin, WE, more to come for sure) and populace (people taking free money when they do not need it) point of view.

At least in Italia, the Mafia is out in the open (they nailed a bunch of them yesterday in Catania).

In Canada instead, they are your next door neighbor and elected officials that are not in Parliament instead waiting for marching orders from the PMO.

All hail the CORRUPT realm of King Singh and his courtesans Trudeau, Freeland. Add to that a populace that cares only about what’s in it for them.

If not corrupt your bon mots, then at the very least MORALLY BANKRUPT.

#36 When Will They Raise Rates? on 12.07.20 at 4:30 pm

You are correct, he was not the head of Pfizer research:

“His title at Pfizer was vice president and chief scientist for allergy and respiratory.”

Also from your link:

“We reached out to Pfizer for comment but didn’t receive a response in time for publication”

So Pfizer hasn’t commented yet, hardly a debunking.

Also of note, no pregnant women were included in the trials, so there are no data points debunking this.

#37 When Will They Raise Rates? on 12.07.20 at 4:33 pm

^ replying to this:

#27 SunShowers on 12.07.20 at 4:05 pm

#23 When Will They Raise Rates? on 12.07.20 at 3:47 pm

More misinformation, may want to address this, Garth?

https://www.snopes.com/fact-check/covid-vaccine-female-sterilization/

#38 Winterpeg on 12.07.20 at 4:33 pm

“corporations with their hands out have been given no-strings $40,000 loans to spend, invest or save. They need only give back thirty grand, keeping ten as a Trudeau gift”
So if a small corporation/business still went bankrupt, how much of that $30,000 repayable will the government actually get back?

#39 TalkingPie on 12.07.20 at 4:35 pm

#32 I’m stupid on 12.07.20 at 4:19 pm
This pandemic has made it socially acceptable to be on welfare. I remember when being on welfare was an embarrassment, those days are long gone now. Smh
********************************************

Would those have been the days when opportunities for gainful employment were plentiful?

I’m not a fan of being on welfare either, but when government shuts down entire sectors of the economy – whether you believe that to be for good reasons or not – you’re going to be left with a lot of (hopefully temporarily) unemployed people. Would you prefer they just lose everything? The social and economic fallout of that would not be pretty, even if you don’t care about the individuals who lost their jobs.

#40 Northshore guy on 12.07.20 at 4:35 pm

Now, I’m off to find moustache wax. It’s a thing. Really.
——–
Yeah it is, Papa Poirot uses it everyday ;)

Regarding lower brain land real estate, expect detached market to stall by end of next year and 2022, why?
Because if rates go up by 1% then the buyers won’t be able to afford monthly.

Good times are bad for detached market here!!

#41 Doug t on 12.07.20 at 4:35 pm

Nice stash Garth -I’ve got one flowing as well.

As to the numbers above – humans are a sad lot – I have been in the recycling industry for over 25 years – people in this country should drive out to their municipal landfill and see what lovely things we do to the earth when all we do is blindly and constantly BUY SH*T – it’s disgusting the way we live day in day out – well enjoy your toys while you can you ignorant slobs cause Mother Nature has a plan and it doesn’t include us

#42 Ponzius Pilatus on 12.07.20 at 4:38 pm

The numbers don’t surprise me at all. Most people are flush with cash, due to government handouts and cutting nonessential spending.
Here in BC we have a pragmatic government that so far has successfully walked the fine line between fighting the virus and keeping the economy open.
Real Estate is a head scratcher, though.
Rec properties, especially waterfront, is selling like hotcakes.
This WFH trend will start to reverse in spring and I expect there will be some juice bargains in Whistler.
16% increase in prices in Halifax!
Garth what’s going on in your backyard?

#43 Nat on 12.07.20 at 4:43 pm

> Likewise for building materials (priced a 2×4 lately?), appliance sales, quads, bikes, sleds and now even Christmas trees.

So how can they still claim inflation is less than 2%?

#44 looking up on 12.07.20 at 4:43 pm

#16 Apocalypse2020 on 12.07.20 at 3:35 pm
“This makes no sense.”

Exactly. We are in a state of chaos, largely unacknowledged. This is one element, the economy.

———-

OK the rules of the game are that on Jan 1, 2021 you can’t change your handle to Apocalypse2021.

That would be cheating.

#45 WTF on 12.07.20 at 4:44 pm

The crassest form of politics performed by unethical, delusional, incompetents willing to roll the dice on each and every citizen (and the next generations) by buying us off with money that we don’t have, To further an agenda no one voted for.

There is a special place in hell for these delusional fiscal incompetents we call “the government”

#46 Up She Goes on 12.07.20 at 4:47 pm

Prices are only going up for the next several years.

The much vaunted mortgage deferral cliff with 700,000 deferrals is a nothing burger. It was supposed to happen in the fall – and pure silence on this front. The 8 million Canadians on CERB have transitioned just fine and are not selling their homes – no mass unemployment. The low-income service workers that lost their jobs temporarily have more money through CERB and CRB now than they did working. Canadians have a positive savings rate now because of the government largess. Low interest rates are here for years. The feds goosed the market with increased buyer incentives all the while preaching housing affordability. All the people buying dirt in the burbs and small towns will not have to go back to work in the office because they are high income individuals. There is no fiscal restraint on the horizon for years to come – the inevitable 2021 election will secure a Liberal majority for four more years.

The government has told everyone they will not leave anyone behind – and the sheer scope of government support for everyone has demonstrated that.

In short, there is zero chance of any softening or any correction of a bull market that has run unchecked since 2003 – nearly 20 years. That is the same time it takes to pay down a mortgage….

Renters, and those on the sidelines, have lost any hope of owning a house without extreme debt – as Canadians have shown themselves willing to gorge on debt even amidst a pandemic to own some dirt..

Real estate is only going up folks. The house that was too expensive last fall, with be 10% higher this Spring….

What a pathetic nation we live in when our own government gooses the market to maximize household debt for

Welcome to another multi-year bull run. Since the realtor have been the only ones right during this market, their mantra stands intact – the best time to buy real estate was yesterday, and buying today will be better than tomorrow..

#47 Linda on 12.07.20 at 4:50 pm

I’m not sure what to think about the estimated $90 billion apparently tucked away in consumer & corporate accounts. Is this reality or some economists rosy outlook? However, I do agree that household ‘savings’ have soared overall. Amazing what an enforced lockdown that shuts down most if not all spending outlets can do for the pocketbook. Neither the partner or I have received a cent of CERB or any other government monetary pandemic aid, but our bank balances are looking mighty fine after 9 months of shopping abstinence:)

Speaking of CERB, apparently CCRA has been notifying those who received benefits ‘in error’ that they need to repay same. In full, by December 31st of this year. Not going to be a lot of joy in Who-ville & that doesn’t take into account the notification of taxes owing to come. Here is hoping that most who get such a notice also possess those newly robust bank balances…..

#48 Ponzius Pilatus on 12.07.20 at 5:00 pm

It will take 8,000 jumbo jets to deliver the vaccines worldwide.
The early euphoria about the vaccine is now giving way to reality.
This is a nightmare of logistics. Initially, If 20% of the promises come true, we’ll be lucky.
Boris Johnson is putting his job on the line.
In the meantime, keep up the routine, eat well and exercise regularly.
Stay safe!

#49 Ponzius Pilatus on 12.07.20 at 5:10 pm

# 35 dolce
Re: least corrupt countries
Canada 12
Italia 51
And by the way, we have the MAFIA too.
https://tradingeconomics.com/country-list/corruption-rank

#50 Steve on 12.07.20 at 5:10 pm

Hahaha, you really grew a stash! That’s awesome!

#51 crowdedelevatorfartz on 12.07.20 at 5:12 pm

@#32 I’m stupid
“This pandemic has made it socially acceptable to be on welfare. I remember when being on welfare was an embarrassment, those days are long gone now. ”

++++
Yes.
It will be called Universal Basic Income and someone else will fund it…..

#52 Faron on 12.07.20 at 5:13 pm

Never had you pegged as a hipster Garth! Get a Boler hat and a pennyfarthing and you will rule the roost of Lunenburg. If your pennyfarthing is tall enough your social distancing can take place in the vertical.

A few things:

1) How much of that increased savings was from deferred mortgages? If 800k mortgages were deferred averaging $1.5k a month over six months that’s $7.2 billion. What does the increased savings rate translate to in dollars? What fraction has nothing to do with CERB and everything to do with people kicking their debt can down the road?

2) According to US analysis, the apparent wage increases are partly an illusion arising from the culling of lower wage work (service) while higher paying jobs translated to WFH. What’s the delta in wage on a sector by sector basis? Again, it’s not all CERB “wages” even though it’s being construed as such.

3) T2 spent more than many/most/all nations on a GDP relative basis, there’s no denying that any longer. But, might the vastly lower viral load, hospitalizations and deaths; the faster decline in unemployment; the greater consumer confidence that Canada is now enjoying be worth all that largess?

Finally:

See below. Seems that mortgage deferrers have been borrowing even as their payments on those other loans were on hold. I see that as much less scrupulous than taking CERB/CRB.

https://financialpost.com/news/economy/average-new-mortgage-tops-300000-for-first-time-as-consumer-debt-in-canada-hits-2-trillion

When we got our mortgage I joked about immediately applying for a deferral. I wonder how many actually have done that this year? Then bought a car? Robbed Peter? Paid Paul?

#53 Faron on 12.07.20 at 5:20 pm

derp, my fault. The $$$ saved is in your post. So, 8-10% could have been mortgage deferral. You also need to factor that consumer spending simply stopped for almost a month.

#54 Ponzius Pilatus on 12.07.20 at 5:22 pm

#24 Erick on 12.07.20 at 3:49 pm
I find it really fascinating to see everyone making predictions, as if anyone knows what is going to happen in 6, 12 and 18 months from now …
———–
Yep.
They are called Economists and they are making lots of dough.
At least the TV weathers guys and girls usually get a week right, and they rely on real science instead on a dismal science.

#55 Faron on 12.07.20 at 5:23 pm

Last one. I wonder how much of the $90 billion will wind up in equities. The US is seeing very large inflows to equities and a fast drawdown in money market funds. ‘twould be a bummer if folks loaded into the market, watched it plop, sold and saw all those funds evaporated. Yech.

#56 short horses on 12.07.20 at 5:28 pm

Great mustache, Garth!

That fiscal response bar chart from Scotia Bank is misleading. If one just looks at the bars, it looks like Canada’s spending is twice that of the US, but the rates are much closer (about 17.5% vs 13.5%). And the US rate could potentially be higher if the Senate weren’t beholden to the whims of Mitch McConnell, who’s been dragging his feet on a second stimulus Bill on the order of trillions.

Nevertheless, Justin Trudeau already lost my vote, between all of the ethics scandals and the endless virtue signaling, and this government’s opacity around COVID-19 spending really reinforces my feelings.

#57 Sheesh on 12.07.20 at 5:31 pm

#36 When Will They Raise Rates? on 12.07.20 at 4:30 pm

https://edwardnirenberg.medium.com/are-covid-19-vaccines-going-to-cause-infertility-939bbdb62b64

#58 30,000 plus on 12.07.20 at 5:32 pm

Woza,,, so many here stating how badly our current Government has managed this whole damned situation while solely looking within – but, but, but, just look at others that have managed so much worse,,, like looking south of the border and then looking even further south than there… Their peoples have received almost squat and financially and so, so much despair,,, and still so much more to come… And just watch as their hospitals collapse under the weight of their mismangaging the virus… Thank you Canada for being just as you are,,, thank you…

#59 Yukon Elvis on 12.07.20 at 5:33 pm

Do yourself a favour. Keep the mask on. Even at home. Sunglasses and baseball cap wouldn’t hurt either.

#60 IHCTD9 on 12.07.20 at 5:34 pm

Excellent handlebar Mr. T!

We should have a “beard-off” best beard/‘stache gets to write a guest blog. :)

#61 Barb on 12.07.20 at 5:41 pm

The Canadian Taxpayers’ Federation stated today that the Debt Clock now needs more than 12 digits.

#62 Looking up on 12.07.20 at 5:46 pm

#58 30,000 plus on 12.07.20 at 5:32 pm
Woza,,, so many here stating how badly our current Government has managed this whole damned situation while solely looking within – but, but, but, just look at others that have managed so much worse,,, like looking south of the border and then looking even further south than there… Their peoples have received almost squat and financially and so, so much despair,,, and still so much more to come… And just watch as their hospitals collapse under the weight of their mismangaging the virus… Thank you Canada for being just as you are,,, thank you…

—————

Bang on.

Many on this board just like to whine, whine, whine without offering any realistic alternatives.

I think Canada did what it had to do.

#63 Ustabe on 12.07.20 at 5:50 pm

#26 SeeB on 12.07.20 at 4:04 pm

Thank you so very much for seemingly knowing what the term “neoliberal” is and using it properly in your posting.

Maybe we can work on illuminating the differences between “social democracy” (what we have) and “socialism” (what we don’t have).

Can’t disagree with anything you wrote, I am so tired of socialism for the corporations while any attempts at social democracy for the little guy is belittled.

Brake/Break?

#64 Don't Get Ahead of Yourself on 12.07.20 at 5:51 pm

If you don’t now or won’t soon have a job after Christmas – toe the line on spending or you will be sorry. Many businesses are gone and many more are going to follow them into oblivion. The hype over the vaccine and pent up demand is all realtorspeak. Only a dummy would pay for any thing that no one else wants or can afford. Think before you spend. Look around – no one else in line or at the open house? Now you are getting it. There is no shining light at the end of the tunnel – the Canadian economy is headed for a downward spiral that could take decades to recover from no matter how you cut it. Todays world is all about preservation of capital so preserve yours before the sharks bite off a chunk for themselves.

#65 Mundy Parker on 12.07.20 at 5:52 pm

To those who think the pictures of dogs with tennis balls in their mouths is cute, read on. Three year ago, my niece threw a tennis ball to her dog. He jumped up and caught it. IT lodged deep in his throat, and he died before she could drive the 10 minutes to the vet. Don’t let it happen to your dog.

#66 Eric on 12.07.20 at 5:54 pm

Got too much money? Don’t worry, Chrystia wants your idea on how to fix that: https://www.youtube.com/watch?v=hBMEpCHXqCs

#67 Penny Henny on 12.07.20 at 5:54 pm

That stash pic.
good from afar but far from a good.

Take another pic from 30 feet away, might help.

#68 Ferry Boy on 12.07.20 at 5:55 pm

For my mental health, I need to stop reading the mainstream media and all this debt and deficit “churn”. But definitely not this blog and unlike some other posters, I enjoy the comment from steerage section.

Anyways, I don’t think its going to end well as the majority of voters don’t want to listen, don’t take the time to understand or have no skin in the game. But it might take a while for the pain to take hold.

So, instead, I will (selfishly) focus on my family, in particular. helping my kids. Continued focus on building a “tax efficient” investments and spending wisely. And keeping money away from the spendthrift politicians. Like Trudeau I and II, Jagmeet, Chrystia and in Ontario Bob Rae, Dalton, Kathleen, etc.

No money will ever be enough for those folks and those that think bigger government is better ..

#69 Faron on 12.07.20 at 5:58 pm

#240 SoggyShorts on 12.07.20 at 12:51 pm

#56 Faron on 12.06.20 at 2:43 pm

My response with regard to whether the convenience of ordering online is a good thing and the viability of a “marketplace” in Edmonton is this. Amazon is the culmination of a process of optimizing for price that has led from the small merchant, to supermarkets, to Walmart/Canadian Tire and now to Amazon and other online retailers. Edmonton and Calgary are fantastic examples of cities with hollow cores (especially Calgary) and chain-rich sub-ex-urbia. This is partly the result of a choice made by consumers that reflects a preference for having tangible dollars in their pockets over the intangible of feeling lonely and isolated that they can’t quite put a finger on the source of. Just as people buying 2000sq ft homes in the suburbs is done because folks perceive greater value in larger square footage numbers. As you poin tout, Edmonton does have shopping districts and it would have more and more vibrant ones if people made this connection among many other connections (another is that being able to toss a defective inflatable pillow into a landfill while getting a free replacement is actually a harmful dynamic in numerous ways).

It’s not always possible, but where possible, choices to pay a little more to support local vendors, to buy quality goods and to make a face-to-face transaction can partly reverse that trend toward the capitalist nihilism that Amazon represents and that will lead to sad lives full of cheap material goods. Small business makes up a huge part of the economy and a part of that is in retail. If you support local retail, you support your neighbours and the localities you like you also directly contribute to employment where it matters most, in your neighbourhood. But, if you like exurb mega malls and online shopping more, then by all means, use your dollars there. But, I don’t think one gets to do that and then spend any time crying about any kind of welfare because by chosing to shop a global, online retailer you have chosen for people to not have jobs where you live to a certain degree. You can’t have both.

One thing I will grant (because I also hate massive organic veggie markups) is that the few marketplaces we have in North America are devoid of haggling and thus prices are often too high. A better system would be for you to be able to offer that veggie merchant less in order for them to make a sale.

#70 TurnerNation on 12.07.20 at 6:02 pm

W…wait…are some people suggesting that, a matter of a few jabs and ALL our freedoms will be returned to us,. globally, exactly as they were? That small business will be allowed to open and prosper, middle class built; families will be encouraged?

Sorry, one sec….AHAHAHA. Ok I’m done. Carry on.
No folks this will be years and years of re-shaping, control and ….well wait and see. Our globalists ain’t giving up their control, no.
It’s moving so fast daily.

#71 Faron on 12.07.20 at 6:02 pm

#60 IHCTD9 on 12.07.20 at 5:34 pm

Excellent handlebar Mr. T!

We should have a “beard-off” best beard/‘stache gets to write a guest blog. :)

How about best pandemic man-bun complete with male-pattern receding hairline? Chicks tell me they dig it…

#72 Cto on 12.07.20 at 6:02 pm

#46 up she goes
“Welcome to another multi-year bull run. Since the realtor have been the only ones right during this market, their mantra stands intact – the best time to buy real estate was yesterday, and buying today will be better than tomorrow”

10 years ago, I would have said, “you’re wronge! You wait and see you realtor twit!!! Garth predictions will make you a fool!!!”

Today I relise the best decision I ever made was buying an over priced house in gta
Worst decision was not investing in a second house / condo when I was able to 5 years ago.

The government will not leave any stone unturned, they will do absolutely anything to subsidize the canadian housing market, even if it breaks the counties back.

#73 Steven Nicolle on 12.07.20 at 6:10 pm

Once the pandemic is gone our economy is going to boom at which time spending all that money will create more jobs and growth. It’s good people have saved for that time. If we had not we would have no money to spend. Everyone who spend money pay taxes. Don’t worry everyone just chill. Every country is going into deep deficit but with our big bank accounts we will be buying like crazy. UBI is coming or some form of it. Just stop buying overpriced houses.

#74 binky barnes on 12.07.20 at 6:10 pm

Mr. Justin Trudeau knows what he is doing. The man is a monetary whiz. If he says ‘spend’ then that is good enough for ol’ Binky Barnes.

BB

#75 Outrage on 12.07.20 at 6:12 pm

Even with Martial law lockdowns its getting worse. T2 needs to come on tv everyday to reassure Canadians he will bankrupt this country if needed. Hopefully only a few months left of this tragedy. Things will get back to normal and Canadians will start spending like drunken sailors again. Be prepared for high inflation and not the 1% they say it is.

#76 Doug t on 12.07.20 at 6:12 pm

#65 Mundy

Jeez girl you sure know how to kill a vibe

#77 joblo on 12.07.20 at 6:16 pm

First Justin Trudeau can’t help himself and copies Garth with the beard.
How long till he copies the handlebar?

#78 cto on 12.07.20 at 6:16 pm

Doesn’t it seem like western governments are just looking for the next crises around the corner to keep lowering rates more and more as years go on?
If inflation goes up, why wouldnt government fudge the CPI numbers and creat a news worthy crises to subdue the masses?
Even now the cost of living is way higher than living wages…
People actually believe the inflation number touted by BOC.?
Do you actually think rates are going up???
Its quite possible by 2025 rates will be 0.1% even if real inflation is 5%.
Garth and I will be 6 feet under before they reach 2% again…

#79 Retired in Kelowna on 12.07.20 at 6:18 pm

Great Moustache Garth! Snidely Whiplash would be envious.

#80 IHCTD9 on 12.07.20 at 6:23 pm

#68 Ferry Boy on 12.07.20 at 5:55 pm
For my mental health, I need to stop reading the mainstream media and all this debt and deficit “churn”. But definitely not this blog and unlike some other posters, I enjoy the comment from steerage section.

Anyways, I don’t think its going to end well as the majority of voters don’t want to listen, don’t take the time to understand or have no skin in the game. But it might take a while for the pain to take hold.

So, instead, I will (selfishly) focus on my family, in particular. helping my kids. Continued focus on building a “tax efficient” investments and spending wisely. And keeping money away from the spendthrift politicians. Like Trudeau I and II, Jagmeet, Chrystia and in Ontario Bob Rae, Dalton, Kathleen, etc.

No money will ever be enough for those folks and those that think bigger government is better ..
— ——-

“This is the way.” I don’t begrudge my fellow freeloading progressive Canadians, but I do make them foot the increasingly gigantic future bill themselves. I want no part of it.

#81 Ballingsford on 12.07.20 at 6:27 pm

Garth, you look like one of the Three Musketeers! Swashbuckling, I must say!

#82 Long-Time Lurker on 12.07.20 at 6:34 pm

Zoolander 3. Script update.

Location: The office of Hemlock Roans, detective.

Mr. Wilson looks up from Exhibit AN.

Mr Wilson: “I don’t know what to make of it.”

Hemlock Roans, detective: “What’s really controversial is that the Global Economic Committee forecasts and promotes that in 2030 people will own nothing and rent everything. It’s in one of their videos and also in one of their articles.”

Roans points to Exhibit V. Wilson watches the video then reads the article.

Wilson: “That’s quite the reset. I’m sure Marx and Engels would be proud.”

Roans laughs and says: “To me, everything Swab says seems to be quick one-minute cookbook solutions to world problems. I don’t understand why he has such the following?”

Wilson: “The problem is that Prime Minister Zoolander is parroting him.”

Roans: “Yes. We have to watch him. At least the Opposition is wary of this now.”

Wilson: “What about the Combined Nations Agenda 2031 that Zoolander mentioned?”

Roans: “I took a look at it. It seems altruistic but I wonder who’s behind it? It would be vigiliant for a citizen to look closer at it… like to close one eye and inspect it with a magnifying glass. There may be more to it than there seems to be.”

Wilson: “They do have close to the same date deadline. Is there some symbolism to it?”

Roans: “I…” Roans points out the C.N. webpage to Wilson in Exhibit U. “I don’t know yet. This is speculative.”

Wilson nods and says: “Zoolander’s on-board with the G.E.C. and Combined Nations Agenda 2031 based on his video speech.”

Roans: “Yes. We have to watch what policies are peddled during the pandemic and immediately after. We have many national leaders talking about Building Back Better during this time.”

#83 Buy Low Sell High on 12.07.20 at 6:35 pm

True Dough Mania board game, 1982

https://images.app.goo.gl/zPZbbk1MGmAesxN99

#84 Long-Time Lurker on 12.07.20 at 6:35 pm

Exhibit V(ideo) & article

World Economic Forum
8 Predictions for the World in 2030

#1 “You’ll own nothing. And you’ll be happy.”

#2 “Whatever you want you’ll rent. And it will be delivered by drone.”

#6 “There will be a global price on carbon. This will help make fossil fuels history.”

8 predictions for the world in 2030
75,203 views•Apr 10, 2017

https://www.youtube.com/watch?v=Hx3DhoLFO4s

Here’s how life could change in my city by the year 2030

“Now I can hardly believe that we accepted congestion and traffic jams.”
11 Nov 2016
Ida Auken
Member of Parliament, Parliament of Denmark (Folketinget)

Welcome to the year 2030. Welcome to my city – or should I say, “our city”. I don’t own anything. I don’t own a car. I don’t own a house. I don’t own any appliances or any clothes….

https://www.weforum.org/agenda/2016/11/how-life-could-change-2030/

#85 Long-Time Lurker on 12.07.20 at 6:36 pm

Exhibit U(Nder scrutiny) 1

https://www.un.org/humansecurity/agenda-2030/

https://www.foxnews.com/story/u-n-complicit-in-forced-sterilizations

Published December 23, 2002
Last Update December 19, 2016
U.N. Complicit in Forced Sterilizations
By | Fox News

There is compelling evidence that the United Nations collaborated in the forced sterilization of poor, rural women in Peru from 1995 to 1997. But mud from the scandal is clinging only to the United States….

https://www.huffpost.com/entry/what-is-wrong-with-the-un_b_154213

What is Wrong With the UN Population Fund?
01/01/2009 12:07 pm ET Updated May 25, 2011

Why shouldn’t the U.S. fund the population controllers at the United Nations, as Huffington Post columnist Cristina Page proposes?

The short answer is that the U.N. Population Fund (UNFPA) is implicated in some of the most coercive anti-people campaigns in the world today.

Started in 1969 following a massive lobbying effort by billionaire John D. Rockefeller III, the UNFPA claims to work to “reduce poverty and to ensure that every pregnancy is wanted, every birth is safe, every young person is free of HIV/AIDS, and every girl and woman is treated with dignity and respect.” In fact, the UNFPA, like its founder, believes that the way to reduce poverty is to reduce the numbers of the poor through sterilization, contraception, and abortion campaigns….

#86 2-4-T on 12.07.20 at 6:37 pm

First the handlebars…then what.
Late-life crisis motorcycle?

Surely you can afford one from all the CERB payments you received this summer.
Call her Justin if you would.

#87 Pete from St. Cesaire on 12.07.20 at 6:37 pm

It makes perfect sense, Garth.
The people (other than the so-called ‘conspiracy theorists’) don’t realize what grave danger we’re all in, while at the same time the people have realized (wrongly) that they’re too-big-to-fail and the money printing and bailouts will continue forever so it’s party time.

#88 Karlhungus on 12.07.20 at 6:39 pm

Garth,
Not sure the 60k CEBA loan is completely no strings attached. In the fine print, it states that your business must be affected by COVID. Ex, revenues are down.

Not sure how many businesses actually care about the fine print, or if the CRA will investigate at all.

#89 IHCTD9 on 12.07.20 at 6:45 pm

#71 Faron on 12.07.20 at 6:02 pm
#60 IHCTD9 on 12.07.20 at 5:34 pm

Excellent handlebar Mr. T!

We should have a “beard-off” best beard/‘stache gets to write a guest blog. :)

How about best pandemic man-bun complete with male-pattern receding hairline? Chicks tell me they dig it…
— —-

I’ll see your MPRH and man-bun, and raise you a gleaming, expertly shaved head, especially in conjunction with Klondike worthy handle bars and large manly beards.

Let’s see how many blog dogs would look just right working the fur trade and mining gold with a pick-axe.

Oh, the chicks do dig a manly facial hair-do – but only in conjunction with a pair of coveralls and mad auto and home fixing skillzzzz.

#90 Rainman on 12.07.20 at 6:51 pm

As the old adage goes “if the government is giving you money, take it!”

#91 crowdedelevatorfartz on 12.07.20 at 6:55 pm

@#90 Rainman
“As the old adage goes “if the government is giving you money, take it!””

+++++

Or in the case of Trudeau’s massive Covid deficit handouts….

” Nothing is free…”

#92 AGuyInVancouver on 12.07.20 at 6:56 pm

#14 MASK FACTS on 12.07.20 at 3:25 pm
Facial hair makes masks useless.

Please shave down your beards to make the masks effective, otherwise you may as well not bother wearing it.
_ _ _
Nonsense unless you’re working in a healthcare setting. When browsing the aisles at Safeway the chances that someone weraing a mask will transmit enough virus particles out to you and they will sneak around your beard-covering mask to infect you is practically nil.

#93 Brian Ripley on 12.07.20 at 7:02 pm

“Household incomes in Canada actually rose in Q2 by a massive 11%.” Garth/OECD

I’m not sure what period of time or the OECD data spans, but here is the Employment & Average Canadian Earnings including Overtime and seasonally adjusted. This data did spike to a new peak but since then has dropped. Here are the percentage drops in earnings for provincial employees:

PEAK DATE/DROP/LOCATION

MAY 2020 1.4% ON
MAY 2020 2.5% Canada
MAY 2020 2.6% QC
MAY 2020 2.8% BC
APR 2020 2.8% NB
JUN 2020 3.2% PEI
MAY 2020 4.1% AB
MAY 2020 4.2% NFL
MAY 2020 4.8% SK
MAY 2020 5.4% MB
MAY 2020 5.6% NS

If employment earnings continue dropping, housing affordability will erode and the savings rate will increase which is what happens in a deflation as consumption choices change. My earnings and employment charts are here: http://www.chpc.biz/earnings-employment.html

Bulling up real estate prices is not productive.

#94 jess on 12.07.20 at 7:06 pm

Most of Europe’s Largest Banks Declare Profits in Tax Havens

A majority of Europe’s largest banks are relying on tax havens to stash their profits, despite the fact that in some cases, these firms don’t have a single employee working where these earnings are booked, a new report released on Tuesday by Transparency International EU revealed.

HSBCThe Report found that HSBC Bank booked $1.77 billion in profit in Saudi Arabia over the last 5 years, despite having no employees located there. (Credit: C Ford CC BY-SA 3.0)The report, which analyzed 39 of the biggest banks in the European Union, found that 31 of them declared profits in low or zero-tax jurisdictions, and that 29 did so through the use of “ghost operations,” meaning none of the firm’s personnel were working in the areas where large portions of their earnings were declared. ”

https://www.occrp.org/en/daily/13325-most-of-europe-s-largest-banks-declare-profits-in-tax-havens
============================
The leak contains more than 10,000 messages spanning the years 2003 to 2020, and it offers unprecedented insight into a man who has rare access to the inner workings of Russian political life.
… the first place, the authenticity of documents received from an unknown party may be in question. To verify the Shamalov archive, the emails were first structured and indexed by OCCRP’s data analysts. Reporters from IStories then spent nearly a year verifying them: They checked email headers, spoke with senders, and substantiated information in company registries, real estate databases, social networks, and other publicly available sources. Our conclusion is that the emails are real.
https://www.occrp.org/en/investigations/love-offshores-and-administrative-resources-how-marrying-putins-daughter-gave-kirill-shamalov-a-world-of-opportunity

#95 Hilroy on 12.07.20 at 7:08 pm

the set of Murdoch Mysteries just called – they need the moustache back…..

#96 Faron on 12.07.20 at 7:08 pm

#89 IHCTD9 on 12.07.20 at 6:45 pm

#71 Faron on 12.07.20 at 6:02 pm
#60 IHCTD9 on 12.07.20 at 5:34 pm

Excellent handlebar Mr. T!

We should have a “beard-off” best beard/‘stache gets to write a guest blog. :)

Man, if Sara wins the beard-off…

#97 Dmitry on 12.07.20 at 7:25 pm

Can’t take my eyes off that picture. LOL

#98 Ponzius Pilatus on 12.07.20 at 7:42 pm

Pfizer is a German name, like Pfaff.
It’s not pronounced Fiser.
The Pf sound is quite hard for English speakers, like the Th sound for many non english speakers.
And z is pronounced ts.
So, now practise and then impress the ladies at the bar.

#99 Janice Poole on 12.07.20 at 7:44 pm

DELETED

#100 Dog Breath on 12.07.20 at 7:44 pm

Trudeau has been prancing around throwing money here and there like the proverbial drunken sailor and yet seniors (who haven’t been killed off by COVID yet) have only received a miserly $300. He should remember that seniors are serious voters. Maybe he’s hoping COVID will eliminate most of them before the next election!!

#101 Sara on 12.07.20 at 7:44 pm

#96 Faron

“Man, if Sara wins the beard-off…”

LOL. Very unlikely, thankfully.

#102 CJohnC on 12.07.20 at 7:56 pm

#20 Macduff on 12.07.20 at 3:43 pm

God your lazy….do it for me….do it for me…
Look it up yourself. Google is pretty easy to use

#103 Drill Baby Drill on 12.07.20 at 8:03 pm

That photo well let’s just say that face needs a lot of polyfilla.

#104 Drill Baby Drill on 12.07.20 at 8:06 pm

Dear Blog God I have a serious question. Freeland was on BNN last weekend spewing scary nonsense about Canadians having huge monies tied up in accounts that need to be mined. WTF? Could you please try and explain what she was talking about.

#105 crowdedelevatorfartz on 12.07.20 at 8:08 pm

Garth,
Todays blog topic is about the historic level of “savings” that Canadian have embraced in 2020.
I was just reading an article in The Economist talking about the “Velocity of Money” where the amount of money changing hands has……..tanked.
Historic.
Americans , receiving govt handouts and facing joblessness are sitting on cash…..
The last time it plummeted to “zero” ( the average dollar didnt exchange hands between April and June) was the beginning of the Great Depression…….

The article also commented on a possible rush of spending when the vaccines take hold that will cause inflation to rise……
So….what happens to our Trudeau-nian Debt Bomb when the govt is forced to raise interest rates to slow inflation?

#106 CJohnC on 12.07.20 at 8:10 pm

23 When Will They Raise Rates? on 12.07.20 at 3:47

As you know very well you are quoting a Qanon/MAGA conspiracy site

go away

#107 zoey on 12.07.20 at 8:14 pm

Fake plastic Christmas trees at hope depot yesterday $200-$350 lol. Put your wallets away people, thats my plan, prices can go to the moon I’ll just stop buying anything discretionary.

#108 crowdedelevatorfartz on 12.07.20 at 8:16 pm

Wow! The pandemic is really taking hold.
500,000 new infections ……per day…..worldwide.

Christmas will be pretty miserable when all the ICU’s in ALL the hospitals everywhere are full and the infection rate is 1 million per day…..

Anti Vacc’ers wanna stay “pure”?

Click on the link and then click back two days…..

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

#109 SunShowers on 12.07.20 at 8:17 pm

#36 When Will They Raise Rates? on 12.07.20 at 4:30
“there are no data points debunking this.”

There are no data points CONFIRMING this. You are parroting the evidence-free opinions of a guy who has a history of making false statements with respect to the pandemic.

He also hasn’t worked for Pfizer in NINE YEARS. There is no reason to suspect he has any inside information with regards to the vaccine or the virus.

#110 Nonplused on 12.07.20 at 8:19 pm

The US spending got bogged down in politics. They are preparing to spend more. If not before Trump leaves office shortly thereafter.

Went to Costco today and the lines have abated. But apparently Hinshaw says Albertans are not “flattening the curve” so more restrictions are on the way, so it’ll probably be lined up again tomorrow. They had TP today but not much so I grabbed my “1 per customer”. It could be a long winter.

Traffic in the city was light except 660 was reporting congestion around a few of the major malls. Santa is immune to covid though so it’s probably ok. Christmas can’t wait.

I wonder how many people are actually going to follow the restrictions on indoor gatherings through Christmas. If I read the rules correctly, my daughters are no longer allowed in my home. But yet the malls are packed? And what am I going to do with all these Christmas presents I bought them at Costco? Leave them on the front porch for them to pick up? FedEx doesn’t seem like a good idea because they are swamped.

———————————-

“Last week the FM, Chystia Freeland, said the T2 gang is planning on spending $100 billion more next year and beyond on a ‘reimagined’ economy.”

Dog help us. I can’t imagine what a ‘reimagined’ economy might look like. A sinking ship, perhaps? Government interference in the economy is almost certainly very bad news. Economies are self-organising structures and they optimize themselves. It is almost without exception that when someone thinks they are smart enough to ‘reimagine’ the economy they break it, and the more ‘reimagining’ the worse the breaking.

#111 crowdedelevatorfartz on 12.07.20 at 8:22 pm

@#104 Drill Baby
“Freeland was on BNN last weekend spewing scary nonsense about Canadians having huge monies tied up in accounts that need to be mined. ”

++++
More internet conspiracy drivel?
Link please….

#112 EE on 12.07.20 at 8:23 pm

For such an esteemed group of number crunchers, many in this group never cease to amaze me with their COVID math perspective. I have expected more from you over the months.

I recommend Alberta’s COVID dashboard for some balanced perspective.

https://www.alberta.ca/stats/covid-19-alberta-statistics.htm

Click on the tabs (e.g. Comorbidities) for even more balanced perspective.

The numbers in the country as a whole are comparable.

Note: the average pre-COVID lifespan of a Canadian is 82 years.

#113 HypocriTease on 12.07.20 at 8:31 pm

The only thing worse than being a coward, is calling someone a coward, since it is often done from a place of contempt, insecurity and a false sense of superiority…. Even when you wrap it up to make it sound like you are a SJW, not everyone takes the bait!

You should really focus your disdain for the true cowards amongst the steerage… Those hypocrites that make all the obvious attempts to make themselves look as if they are following all the Covid protocol… Yet, so many of them will break the rules by having people outside of their bubble visit them during the holidays, like children from university.

After all. .. Those rules are for everyone else, not them! Then they will hop back on to this pathetic blog to lambaste others who might have a differing opinion!

#114 Sara on 12.07.20 at 8:39 pm

Anti-masker, don’t-tell-me-what-to-do, man-child types, beware. Your erections may be a thing of the past if you don’t take precautions and wrap it up — your nose and mouth that is.

https://nypost.com/2020/12/05/covid-19-could-cause-erectile-dysfunction-doc-says/amp/?fbclid=IwAR3qt9CExehhWDjHy8661rQpg9hl1-hLtS4llbWpTG3OjBs4v5V3nCHwHyc

#115 Grateful Dead on 12.07.20 at 8:41 pm

#98 Ponzius Pilatus on 12.07.20 at 7:42 pm

Pfizer is a German name, like Pfaff.
It’s not pronounced Fiser.
The Pf sound is quite hard for English speakers, like the Th sound for many non english speakers.
And z is pronounced ts.
So, now practise and then impress the ladies at the bar.

______________________________________________

I don’t think you and I frequent the same bar… And for that I remain eternally grateful.

#116 Nonplused on 12.07.20 at 8:44 pm

#43 Nat on 12.07.20 at 4:43 pm
> Likewise for building materials (priced a 2×4 lately?), appliance sales, quads, bikes, sleds and now even Christmas trees.

So how can they still claim inflation is less than 2%?

—————————

Don’t know about those other things Garth mentioned, but the art of selling appliances has been perfected. They simply make them so cheap these days that they won’t last much more than 10 years before they aren’t worth fixing. I think they learned it from the auto manufacturers.

I will say thanks to Trump for one thing though. He relaxed the efficiency rules on appliances so my new washer does not say HE3 on it but it does a great job cleaning the clothes. I guess they relaxed the requirement for front loads from 3 gallons of water per wash to 5. So if you need a new washer now is the time to get one that can actually clean the clothes rather than just making them damp. Biden will likely reverse those changes. And of course our market is too small for our own rules so what they can buy in the US is what we can buy here.

#117 God on 12.07.20 at 8:49 pm

#104 Drill Baby Drill on 12.07.20 at 8:06 pm
Dear Blog God I have a serious question. Freeland was on BNN last weekend spewing scary nonsense about Canadians having huge monies tied up in accounts that need to be mined. WTF? Could you please try and explain what she was talking about.

———

I gave you all free will. You’re going to need to ask her yourself. I didn’t put you on this earth to be a wuss. Man up!

#118 Steerage science on 12.07.20 at 8:50 pm

Modern V day starts tomorrow… rollup your sleeve to win.

BBC News: Covid: UK vaccination programme getting under way BBC News – Covid: UK vaccination programme getting under way
https://www.bbc.co.uk/news/uk-55218679

#119 Habitt on 12.07.20 at 8:51 pm

#10 soggy shorts have you ever had influenza? I have. Damn ugly. It was 1979. Guess what. Old folks and others had serious permanent issues. Sound familiar? That’s reality when we get old and are comprised. Oh bother. It’s really bad, where’s my cheque? Lol

#120 Flop... on 12.07.20 at 8:54 pm

Saw a few folks wondering what Americans have been doing with their money.

Here’s a post I did a while back about it.

The Federal Reserve followed the bouncing ball from the first round of stimulus.

It wasn’t pretty.

71 cents from every dollar failed to make its way back into the economy.

Flop…

Oops, forgot Ponzie wants me to pronounce it Pflop…

M46BC

————————————

#122 Flop… on 10.27.20 at 9:15 pm

This could be the financial version of saying you voted Democrat, when you actually voted Republican.

Here’s what Americans say they’ve been spending the government stimulus money on.

Savings: 36%

Debt repayment: 35%

Consumption: 29%

They are ready for another round.

Keep that printer plugged in…

M46BC

Here’s How Americans Would Spend a Second Stimulus Check vs. The First One.

“When the coronavirus brought the world economy to its knees, the US government opened the floodgates of spending. The feds added an extra $600 to weekly unemployment benefits, spent hundreds of billions on a Paycheck Protection Program (PPP), and sent out $1,200 per adult (plus $500 per child) to millions of people. With the US Congress actively negotiating with the White House on a new stimulus package, how did Americans spend the first round? And what would they do with a second stimulus check?

Our visualization makes clear that this would be one of the most ineffective ways to stimulate the economy. In the first round of stimulus checks, Americans socked away 36% of the payments directly into their savings accounts. They spent another 35% retiring debts, and only spent the remaining 29% on consumption. This means that 71 cents out of every dollar the government sent to Americans didn’t actually stimulate the US economy, which relies heavily on personal consumption for growth.”

https://howmuch.net/articles/stimulus-checks

#121 Nonplused on 12.07.20 at 9:03 pm

#69 Faron on 12.07.20 at 5:58 pm

“Organic” does not have a regulatory meaning. Neither does “natural”. This is why I don’t waste my money on these labels. A carrot is organic whether fertilizer or pesticides were used or not. This is why they have not been able to define the term in law. They have the same problem with “natural”. Sure, artificial flavorings might be made in the lab, but often they are hardly distinguishable from things made in nature. Nature makes some pretty rad stuff. Some of it can kill you.

I do avoid artificial sweeteners though. I don’t need to drink that much pop.

#122 JWD on 12.07.20 at 9:04 pm

Financial advisors stud calendar 2021

Nice detail :)

#123 paulo on 12.07.20 at 9:16 pm

#78 CTO:

I think you will find moving forward,home owners that represent the only significant new taxation sources will be subject to relentless taxes and increases in user fees.
expect the massively abused, gamed and frauded tax exemption on proceeds from sale of principal to be first up.

#124 Faron on 12.07.20 at 9:17 pm

#105 crowdedelevatorfartz on 12.07.20 at 8:08 pm

Hmmm. Did The Economist blame the avg. consumer or the fact that QE dollars are landing in hands that don’t need it or being used on assets that arent stimulative? In the first case, a dollar given to someone who is well off wont be spent nearly as quickly as a dollar given to someone living hand-to-mouth. An example of the other is dollars landing in assets that actually are inflating like houses or equities but don’t drive money flow.

#125 Bucky on 12.07.20 at 9:20 pm

Well, at least Canadians are acting consistently. In the GFC Ottawa crashed interest rates and the cheap credit was used to buy mortgages instead of investment in increasing productivity or innovation. Now free stimulus money is being used for real estate, so the government has borrowed $400B to hand everyone a down payment. What could go wrong?

#126 DON on 12.07.20 at 9:20 pm

The article also commented on a possible rush of spending when the vaccines take hold that will cause inflation to rise……
So….what happens to our Trudeau-nian Debt Bomb when the govt is forced to raise interest rates to slow inflation?

***********

Ka….BOOM and taxes and user fees rain down from high above Mt. Owelympus as the cold wind blows and reality sets in. Treading monthly payments as interest rates increase…even a slight rate increase could be a catalyst in a high debt environment.

If you got money and didn’t deserve it…get ready for the CRA notification on your file. ‘You’ve got mail’

#127 crowdedelevatorfartz on 12.07.20 at 9:21 pm

Ahhhh.
The Cullen Commission testimony today.
BC street level trade in Fentynal ?
$200- $300 MILLION per year….
Data collected estimates heroin has been almost entirely replaced by fentynal.

What did the dealers do with the cash from the sale of fentynal?

Stay tuned……….

#128 COVID Barber on 12.07.20 at 9:22 pm

Garth, I can help.

I can be there tomorrow and will provide you and Dorothy with all the cuts and trims you’d like this month.

I can offer a deal at $37,000 for four weeks of service.

You’re worth it :)

#129 Rural Rick on 12.07.20 at 9:32 pm

Waxed mustaches are for Sargent Majors and Snydley Whiplash types. Don’t think that look will convey your inner qualities very well.

#130 crowdedelevatorfartz on 12.07.20 at 9:32 pm

@#124 Faronista
“QE dollars are landing in hands that don’t need it or being used on assets that arent stimulative?

Dont be such an argumentative dweeb.

Try and realize that some poor people receiving govt CERB bucks may actually “save for a rainy day”….because they dont know where the next dollar is coming from.
I know I know. It goes against your socialist bent.

When the Economist studies reveal that ZERO MONEY MOVED BETWEEN APRIL AND JUNE thus causing the “Velocity of Money ” to hit zero…. The first time since the Great Depression……

Time to sit up and take notice instead of crapping on the data and blaming the “rich” that may or may not have received govt handouts.

Either way.
Rich or poor. If we are all worried about the future economy….we’re sitting on our cash….
Hello Depression.

.

#131 Faron on 12.07.20 at 9:33 pm

#121 Nonplused on 12.07.20 at 9:03 pm

#69 Faron on 12.07.20 at 5:58 pm

“Organic” does not have a regulatory meaning

BS. Truth in labelling laws exist and organic certification is enforcable. Organic as it pertains to food production certainly has a regulatory meaning and may not be misapplied. Whether organic food confers any benefit is another question… I personally don’t spend my money on organic foods unless doing so supports a local farmer. Local trumps organic for me.

#132 Pete from St. Cesaire on 12.07.20 at 9:42 pm

#114 Sara on 12.07.20 at 8:39 pm
Anti-masker, don’t-tell-me-what-to-do, man-child types, beware. Your erections may be a thing of the past if you don’t take precautions and wrap it up — your nose and mouth that is.https://nypost.com/2020/12/05/covid-19-could-cause-erectile-dysfunction-doc-says/amp/?fbclid=IwAR3qt9CExehhWDjHy8661rQpg9hl1-hLtS4llbWpTG3OjBs4v5V3nCHwHyc
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Lord, they’re getting desperate. Reminds me of junior high when the teacher told the class that virgins can run faster and jump higher than non-virgins. I guess they figured the jock types were the ones most apt to start experimenting with sex so “let’s scare them out of it”.

#133 MCG on 12.07.20 at 9:47 pm

Garth, you wrote that cash from our government’s largesse “seems to have flowed disproportionately into the hands of higher-income earners. You know. Folks like you, the WFH crowd”.
I am one of those high-income earners; my colleagues, many friends and family members are too. We all were WFH but neither I nor any of the 50 to 60 high income earners I know very well took a penny of government “free” money (we are a group of professionals, not business owners”.
My question to you or anyone who posts here: where is a statement like yours coming from? Is there data on this demographic receiving any “free” money whatsoever? Disproportionately? I would love to see it.
I saw this kind of statement on another website and am wondering if this is real or just the type of statement to fuel another wave of tax-grabbing and vilification of the most maligned group of taxpayers in this fair country of ours?

#134 Ponzius Pilatus on 12.07.20 at 9:56 pm

#110 nonplussed
Dog help us. I can’t imagine what a ‘reimagined’ economy might look like. A sinking ship, perhaps? Government interference in the economy is almost certainly very bad news. Economies are self-organising structures and they optimize themselves. It is almost without exception that when someone thinks they are smart enough to ‘reimagine’ the economy they break it, and the more ‘reimagining’ the worse the breaking.
———-
Please give an example of a self-organizing economy.

#135 Spectacle on 12.07.20 at 10:06 pm

#127 crowdedelevatorfartz on 12.07.20 at 9:21 pm
Ahhhh.
The Cullen Commission testimony today.
BC street level trade in Fentynal ?
$200- $300 MILLION per year….
Data collected estimates heroin has been almost entirely replaced by fentynal.

What did the dealers do with the cash from the sale of fentynal?

Stay tuned……….
——–***********———***********——-
Answer,
Real Estate & Developments, big time! Look for example at any ” Luxury , Planned community in YVR. It will have a distinct odor about it ( not just the elevators). I wonder if the future holds an amazing, cayaclysmic interference in their progress?

A side gig is luxury automobiles. A ” friend” told me about a local lux used car dealer, silent partner just jumps on a plane back to an offshore location. Gone!
Although cars have taken a break, too much heat.

#136 Tyberius on 12.07.20 at 10:08 pm

Well, well well…

I just checked my November portfolio performance and it came in at +19.3% – that’s just ONE month!
I was heavy in energy and they just rocked on!

Must have been Covid-related: CV19(+0.3).
Some would say this is a mere coincidence, but numerologists may have other explanations.

Did some selling today and I think I will continue to lighten up to lock in some of the cap. gains (at the current 50% inclusion). I fear a higher rate next year so might as well…

#137 Ponzius Pilatus on 12.07.20 at 10:27 pm

#131 Faron on 12.07.20 at 9:33 pm
#121 Nonplused on 12.07.20 at 9:03 pm

#69 Faron on 12.07.20 at 5:58 pm

“Organic” does not have a regulatory meaning

BS. Truth in labelling laws exist and organic certification is enforcable. Organic as it pertains to food production certainly has a regulatory meaning and may not be misapplied. Whether organic food confers any benefit is another question… I personally don’t spend my money on organic foods unless doing so supports a local farmer. Local trumps organic for me.
—————–
Organic “and” local is best.
Our family is about 70% organic right now.
I have raspberries and blueberries in my yard.
A plum tree, and I just planted a cherry tree this year.
They are miniature plants, because the yard is not too big.
I buy tomato plants in spring at Costco.
It’s a great feeling to grow and eat your own fruit and vegetables.
Costco has organic hamburger meat.
Regular does not even come close in taste, texture and color.
Guten Appetit.
I buy

#138 crowdedelevatorfartz on 12.07.20 at 10:46 pm

@#131 Faronista
” I personally don’t spend my money on organic foods unless doing so supports a local farmer. Local trumps organic for me.”
+++

I’ve heard that if you keep something in the dark and cover it in dung it will grow mushrooms…..

Is that local enough for you?

#139 Fortune500 on 12.07.20 at 10:48 pm

Garth warning next time! I almost spit out my coffee. Actually you should keep the curly stash and go 19th century style.

#140 The first Joel on 12.07.20 at 11:04 pm

Classy move , what better thing to do while hiding under the kitchen table for the past 8mths.

Quoting the master
https://www.youtube.com/watch?v=9dgjOObPxds
Jimmy knows,
Best to all

#141 SOMETHINGS UP!! on 12.07.20 at 11:08 pm

WELL FOLKS….ANOTHER PANDEMIC IS UPON US!

https://globalnews.ca/news/7505920/india-unidentified-illness-andhra-pradesh/

#142 Nonplused on 12.07.20 at 11:30 pm

#131 Faron on 12.07.20 at 9:33 pm

Ok, I admit you are sort of correct. You can’t use Roundup on “organic crops”. But you can use boric acid. You can use a number of synthesized chemicals as well, including calcium hypochlorite, hydrogen peroxide, actually the list is pretty long.

From the USDA:

https://www.ecfr.gov/cgi-bin/text-idx?c=ecfr&SID=9874504b6f1025eb0e6b67cadf9d3b40&rgn=div6&view=text&node=7:3.1.1.9.32.7&idno=7

#143 Barb on 12.07.20 at 11:49 pm

“…a “beard-off” best beard/‘stache.”

———————————————
My legs would beat all of you.

#144 AlMac on 12.08.20 at 12:03 am

I find trying to determine how much Govts. should spend to deal with this covid crisis is a mugs game. The feds and provinces are giving it their best shot without knowing what the correct direction or amount to spend is. They are muddling along, with best intentions, and hopefully make course corrections as things play out over time. I am unable to evaluate at this time whether their plans are good or bad and I suggest that none of you do either. The best I can hope for (and I hate living on hopium) is that the future course corrections will be good ones for our economy and health.

#145 Siver on 12.08.20 at 12:15 am

DELETED

#146 Dr V on 12.08.20 at 12:55 am

Faron/Nonplused

I’ve seen this before. A term used in laws, regulations, or bylaws which the statute/reg/bylaw does not define,
or a term which is defined but neither includes or precludes particular interpretations

https://laws-lois.justice.gc.ca/eng/regulations/SOR-2018-108/page-34.html#h-846236

I do not see a definition for “organic” in these regs.

Authoritative dictionary definitions may or may not be applied by the regulating body or the courts.

#147 Morrey on 12.08.20 at 1:11 am

A simple explanation on how the COVID vaccine works:

https://twitter.com/ScientistSwanda/status/1335988328362090500

#148 jane24 on 12.08.20 at 1:22 am

It’s not just in Canada Garth. The British govt supported my AirBnb with free grants, far in excess of normal business. In the year of Covid my bottom line will be better than last year! Amazing but worrying!

#149 willworkforpickles on 12.08.20 at 2:14 am

All that free government money piled up in savings accounts with more to soon come. Where will it go?
All the pent up demand holding off on the purchase of consumer goods will overwhelm the free market by mid 2021. Production levels will be at a low, a usual result from high unemployment and wrought from the 2 phases of covid-19. All that free floating cash suddenly shocking a diminished source of goods and with overwhelming demand all at once will lead to widespread shortages, spiking prices and rising inflation levels. Will it set off the push to raise interest rates ?
Expect spiking levels of inflation, a rise in interest rates and stagflation to follow…inflation combined with stagnation of economic output.
How extreme the cost of essentials will become and the deflating value of everything else will be with coming stagflation …like a rubber band, will be stretched to its limits before any kind of turnaround comes.

#150 SoggyShorts on 12.08.20 at 2:15 am

#69 Faron on 12.07.20 at 5:58 pm
To be clear: nothing ended up in the landfill, one of the pillow bags that doubles as a pump just had a defective nozzle- I still have all 3 pillows&bags.

Regarding Amazon vs local, like I said, if it’s close I don’t mind paying more for local at all, and I would love to shop in a bustling market place at reasonably inflated prices, but I’m afraid that I won’t be doing that here, it’s just not available, and I doubt it will reverse.

You’re bang-on about the hollow cores in AB, downtown is a ghost town after 5pm.
In other countries, I have seen vibrant exciting cores, but that’s by design- rent controls and combination stores&living spaces keep it alive after the workday is over for most. Again I agree that shopping at markets is all-around better, and I’m really looking forward to popping in for a few things every single day… in SEA.

#151 SoggyShorts on 12.08.20 at 2:22 am

#65 Mundy Parker on 12.07.20 at 5:52 pm
To those who think the pictures of dogs with tennis balls in their mouths is cute, read on. Three year ago, my niece threw a tennis ball to her dog. He jumped up and caught it. IT lodged deep in his throat, and he died before she could drive the 10 minutes to the vet. Don’t let it happen to your dog.
*********************
Wait..what are you suggesting? Not to play fetch with dogs?
How many tennis ball throws have been made to dogs that did not result in the dog dying?

The tennis ball was invented 150 years ago.
90 million dogs in the USA alone today.
Toss a ball to each dog ONCE per year and that’s billions of times.

I’m sorry for what happened to your niece’s dog, but that’s a billion to one shot.

#152 Faron on 12.08.20 at 2:34 am

#130 crowdedelevatorfartz on 12.07.20 at 9:32 pm

@#124 Faronista

…ZERO MONEY MOVED BETWEEN APRIL AND JUNE

That’s funny, I seem to recall having spent money back then. But, it was a wild time, so my memory is a little fuzzy. I could have just been tossing loonies at the cat.

BoC’s balance sheet is up by $425 billion. CERB cost $77 billion. When talking about velocity of money, I gather that you need to account for the lack of motion of all $425. Even if CERBians saved half of that amount (unlikely) CERB savings would account for a very small fraction of decreased velocity. If you were talking about M2 that is.

Anyhow, easy tiger, my rant wasn’t inspired by Marx and was not an attack on you. Your post partly contradicted what I recently read about the velocity of money and reasons for the lack of it. What I have read is this: ideally, money gets printed and works its way into the hands of those who will spend it. Doesn’t matter who, just matters that it goes into broad circulation and doesn’t get parked. But, recent money printing has lead to various asset bubbles which both fails at stimulating the economy and results in the parkage of those bucks into the stimulated asset. The old limp noodle, Japan model. Where printing stops exercising leverage on the economy.

If the bux were printed and more of them flowed to lower income people either through huge tax cuts or CERB (same same really). Yes, some would be saved, but much of it would flow. A much much much better solution in my uninformed opinion, would be printing to fund infrastructure projects. That was something Harper and Obama did right. Unfortunately, such a program wouldn’t keep credit flowing so wouldn’t do all that printing needs to do. But, don’t blame the CERBian savers for lack of velocity. They are only part of the picture.

No, a depression is not immanent.

#153 willworkforpickles on 12.08.20 at 2:56 am

The fallout of 2020 extremes has not miraculously gone away…2021 looms.

The deferral cliff has not magically disappeared…
3 month defaults calculated from the end of the deferral program (Oct 31) will unmagically reappear en masse at the end of Jan. 2021.
Foreclosures en-masse to follow will come in the Spring of 2021.

Wishful thinking, denial or forgetfulness has these issues in the rear view or just outta sight outta mind with some/many around here.
Too many rose colored glasses wearers or too much faith and trust in friendly green teeth smiley faced realtor’s.
There is no long lasting vax for these afflictions.

#154 Diamond Dog on 12.08.20 at 3:48 am

On Monday Deloitte economist Craig Alexander said the deficit this year will probably hit $400 billion. Last week the FM, Chystia Freeland, said the T2 gang is planning on spending $100 billion more next year and beyond on a ‘reimagined’ economy. – Garth

Garth, I hate where this is going. Everything you say is dead on. A great deal of money went in the hands of people who didn’t need it. It’s not for free. When I see these numbers, I don’t see a healthy economy, I see a nation with it’s treasury bleeding out and debt bubbles blowing up everywhere. I see fiscal debt bubbles, real estate bubbles, we have to stop this hemorrhaging or we’ll have a joke of a nation in 10 years time.

Just to give readers an idea of how bad it is, this is a chart from Deutche bank yesterday:

https://twitter.com/jsblokland/status/1333860852466900994/photo/1

We don’t just have the largest household debt to GDP ratio in the world, we have the largest real estate bubble in the world (115% Q2 2020). I don’t think there’s a nation that’s at 100% of GDP with real estate debt elsewhere in the world:

https://betterdwelling.com/canadian-household-debt-reaches-115-of-gdp-heres-why-thats-bad/

Total household debt to GDP ratios have to be around 180% or higher now. We are vulnerable to any kind of shock now and the shock is already built into the real estate market. Imagine if there’s a shock we can’t see. And Trudeau wants to structurally borrow $ 100 billion a year? Does anyone actually believe he’ll stop at this? Canadians better stop being financially illiterate or we won’t recognize Canada 10 years from now.

#155 calgaryPhantom on 12.08.20 at 5:38 am

I don’t buy the narrative that once vaccines have arrived, economy will boom with pent up demand.

They have scared the s**t out of people and truth is that policy makers can only hope that demand will pick up. I think it’s highly unpredictable as people behave in strange ways. So not putting my money on hope that demand will come roaring back.

Not at all surprised to learn the savings pattern. Demand will come very slowly.

#156 HUNGRY BEAR on 12.08.20 at 6:25 am

We are in the 1st inning of the Commodity Cycle…

LOAD UP!!!

https://www.youtube.com/watch?v=MQp_Hqi02NA

#157 UtterlyConfusedCanadian on 12.08.20 at 7:34 am

#122 JWD on 12.07.20 at 9:04 pm
Financial advisors stud calendar 2021
————–

Yes apparently it sold out immediately. Black Widows are on the prowl.

#158 IHCTD9 on 12.08.20 at 7:38 am

#137 Ponzius Pilatus on 12.07.20 at 10:27 pm

Organic “and” local is best.
Our family is about 70% organic right now.
I have raspberries and blueberries in my yard.
A plum tree, and I just planted a cherry tree this year.
They are miniature plants, because the yard is not too big.
I buy tomato plants in spring at Costco.
It’s a great feeling to grow and eat your own fruit and vegetables.
Costco has organic hamburger meat.
Regular does not even come close in taste, texture and color.
Guten Appetit.
_______

If you want to grow something in the garden that makes you feel like you’ve just tasted it again for the first time – try rosemary, and fennel (for the seeds).

Stark difference in taste from store bought.

#159 crowdedelevatorfartz on 12.08.20 at 8:16 am

@#152 Faronista

Im sure you spending money on the latest issue of Pravda wouldnt effect the economy.

As for the rest of the planet ( Venezuela’s utopia excluded) have been doling out borrowed bucks by the hundreds of Millions and people are sitting, holding cash.
Worried about the next phase of lockdowns and vaccines.
Japan’s 30 year stagflation was bad.
This could be much much worse if people sit and hold.

But I guess the vapid will tell their Universal Basic Income grandkids horror stories about the “tough 20’s” when they needed a new $1000 phone and a PS5 to get them through the non contact times….and they had no CERB….

#160 Bravo Britian on 12.08.20 at 8:17 am

DELETED

#161 crowdedelevatorfartz on 12.08.20 at 8:25 am

Has a planet destroying asteroid been discovered heading towards Earth?

The CBC has actually criticized the Liberal hand that feeds them……

https://www.cbc.ca/news/business/distillers-hand-sanitizer-pandemic-1.5813509

#162 Wrk.dover on 12.08.20 at 8:44 am

Beards/merkins, too similar in intentions.

#163 Ordinary Blog Dog on 12.08.20 at 9:03 am

Nice ‘stach’ there Garth. Reminded me of that famous show with Dastardly and Muttly. He had quite a handlebar too.

See Dastardly here:

https://en.m.wikipedia.org/wiki/Dick_Dastardly

#164 Phylis on 12.08.20 at 9:09 am

Drove past the local road side vegetable stand a few times this year. Midway through the season a new sign board appeared tacked above, “organic”.

#165 millmech on 12.08.20 at 9:21 am

Everyone is so worried about the over spending and debt not realizing that we can now sell our most valuable commodity and have zero debt. We will now be one of the most powerful countries on the planet, as long as we do not squander this resource like we have done with every other one.
https://markets.businessinsider.com/news/stocks/water-futures-to-trade-on-wall-street-first-time-ever-2020-12-1029870836

#166 Dharma Bum on 12.08.20 at 9:27 am

#24 Erick

I find it really fascinating to see everyone making predictions, as if anyone knows what is going to happen in 6, 12 and 18 months from now …
——————————————————————–

Keep reading.

We are the all wise, omniscient, powerful steerage section.

We know all and see all. Heed the voices within. Ignore our predictive powers at your peril!

And remember: PROOF of vaccination will be standard in the future.

So it shall be written. So it shall be done.

You are correct, we know the future. Because that’s where we’ve just been.

#167 crowdedelevatorfartz on 12.08.20 at 9:28 am

@#154 Diamond Blog Dog
“Canadians better stop being financially illiterate or we won’t recognize Canada 10 years from now.
++++

It only took Trudeau 4 years to make this country unrecognizable….. give him another 4 years and see what happens.

#168 Huh? on 12.08.20 at 9:57 am

#10 SoggyShorts on 12.07.20 at 3:13 pm

Dude what’s with you seriously? Do you work for Pfizer or something? Cut your rhetoric as the more you spew it, the less people like me will listen. Stop trying to bully us into your misleading and illogical mantra.

I along with legions of critical thinking people will get the vaccine when we’re convinced that it won’t do more harm than good. And that’s not selfish or cowardly, with the track record of said pharmaceutical and the others involved, it’s prudent.

Got it?

Of course it is both cowardly and selfish. None of your bleating will change that. We will remember you as an enabler. – Garth

#169 good2all on 12.08.20 at 9:59 am

T2 is like NDP now, CERB goes to low-income class, WFH middle class doesn’t get any, but they are going to pay the bill (more tax). probably this is what T2 means with “great reset”.

Government and CB are going to delay raising the rate as much as they can, since they just can’t afford it. Real Estate party will last for a while, like the US stock market. Those who didn’t join the party would regret. it is sad for sane middle class savers, but it is the reality, we are in a crazy time…

#170 joblo on 12.08.20 at 10:13 am

binky barnes on 12.07.20 at 6:10 pm

Hey binky, I’ve come around and wanna join your Justin Trudeau mutual admiration society.

Please provide details.

I can get behind a Justin Trudeau who told prank fake Greta he DREAMS of a world with no soldiers.

I’m in.

#171 Damifino on 12.08.20 at 10:22 am

#169 good2all

it is sad for sane middle class savers…
——————

No doubt. It’s exactly why they should have been sane middle class investors.

#172 Huh? on 12.08.20 at 10:23 am

DELETED

#173 East Coast Life Style on 12.08.20 at 10:53 am

#168 Huh?

Perhaps the real question is, are the vaccines even effective for those who most need them?

https://www.bmj.com/content/bmj/371/bmj.m4037.full.pdf

This isn’t anti-vax, Garth, so don’t ban me.

Come to think of it, a few notable historical figures who also sport a mustache liked censorship too…

This is a private blog, and I am under no obligation to hand over space to anyone. Refusing the vaccine is socially irresponsible and ethically challenged. It places self above society. That is not what this site is about. Choosing to not grant a voice to cowardice and egomania isn’t censorship. It is leadership. – Garth

#174 LP on 12.08.20 at 11:20 am

#163 Ordinary Blog Dog on 12.08.20 at 9:03 am

I was thinking of the dressed-all-in-black, evil landlord on the cartoons of my childhood. He delighted in tying defenceless maidens to the railroad track, for reasons that escape me now. Perhaps they spurned his advances or fell behind on their rent.
I gotta stop remembering that – the soundtrack is coming back to me now!

#175 Tommy on 12.08.20 at 11:25 am

Garth Turner said: “This is a private blog, and I am under no obligation to hand over space to anyone.”

It’s not a private blog because I can access it and I am just some random schmuck on the internet. This blog is open to the public, just like any retail store. The 1960s civil rights era established the principle that privately owned public spaces cannot arbitrarily and unfairly discriminate. I believe those protections against unfair discrimination in the physical public sphere (even if privately-owned) should be extended to the digital public sphere. Your blog is part of the digital public sphere, Garth.

Go ahead. Make my day. – Garth

#176 Steerage science on 12.08.20 at 11:47 am

90 year old woman leading the way…. what a beautiful sight

Amazing, stunning achievement…

BBC News: Covid-19 vaccine: First person receives Pfizer jab in UK BBC News – Covid-19 vaccine: First person receives Pfizer jab in UK
https://www.bbc.co.uk/news/uk-55227325

#177 Faron on 12.08.20 at 11:51 am

#146 Dr V on 12.08.20 at 12:55 am

Faron/Nonplused

I do not see a definition for “organic” in these regs.

There are references to five documents, 3 Canadian and two international defining what organic is and is not. The regulations on organic labelling are several pages long.

#178 SeeB on 12.08.20 at 11:51 am

#110 Nonplused on 12.07.20 at 8:19 pm

Dog help us. I can’t imagine what a ‘reimagined’ economy might look like. A sinking ship, perhaps? Government interference in the economy is almost certainly very bad news. Economies are self-organising structures and they optimize themselves. It is almost without exception that when someone thinks they are smart enough to ‘reimagine’ the economy they break it, and the more ‘reimagining’ the worse the breaking.

——————————————-

Economies can certainly organize themselves. It’s just they way the tend to organize is in monopolistic and oligopolistic structures. I don’t get why people fear “big government” on one hand, but will happily hand over all price controls to one or two “big businesses”. The delusion of small capital ended over 100 years ago, when Standard Oil showed us what the ultimate end game of all business is.

If government hadn’t stepped in, there would have been only one oil company today, setting prices at their whim and stifling innovation and competition. Now we face these issues again with telecom, airlines, media companies, tech, aluminum and steel, oil (again!), cars, and so on. All of this in the shadow of the most obvious example: Amazon.

Adam Smith’s invisible hand never existed, and we need everyone to wake up from that dream.

#179 WTF on 12.08.20 at 11:53 am

#104 Drill Baby: “WTF? Could you please try and explain what she was talking about.”

OK Ill try, Emperor Wonderboy has been force feeding yuuuuge amounts of borrowed money to the plebes, now we are all flush…….

#180 Linda on 12.08.20 at 12:04 pm

#100 ‘Dog’ – excellent observation. I too thought it interesting that OAS recipients received a ‘one time payment’ of $300. I say OAS because one had to be aged 65+ in addition to being a pensioner to qualify for the one time payment.

So as per our government, in order to keep the economy afloat anyone who had earned a net $5K in the previous 12 calendar months could qualify to receive $2K per month in CERB. I’m presuming the $2K figure was determined to be the minimum necessary to pay for life’s necessities.

The maximum CPP payment per month is currently $1,175. Very few actually qualify to receive that maximum monthly payment. The average CPP paid monthly is just under $700 per month as per StatsCan. Think about that. A program that was paid into for decade pays out at most $14K per year. I’m not including the enhanced CPP for those who defer taking it to age 71, but even if I did that enhanced amount would be roughly $20K. Incidentally those born in 1949 are 71 this year, so there might actually be a baby boomer or two who 1) qualified for maximum CPP & 2) waited until their 71st birthday to start collecting it.

Anyhow, interesting that our government thinks people require $2K per month to live on, yet CPP is only $1,175 at most. Throw in OAS at $601 per month & that is still shy of that $2K per month minimum. But CERB is a taxable benefit? So too is CPP. I’m not sure about OAS but I think it too is taxable.

As for that one time payment of $300 – if CERB is taxable, presumably that $300 is too?

#181 Prince Polo on 12.08.20 at 12:06 pm

I hope you will write about that brave 90yr old soul who was first to get the vaccine in UK. I still don’t quite understand how so many in “society” want to reap the benefits, while concurrently holding a somewhat daft interpretation of the “social contract” that is required. I weep for thee, Canada, and I’m one of those (despicable & selfish) millennials that’s ready for my 2021 needle-prick!

Please don’t be daft, Canada!

#182 JB on 12.08.20 at 12:10 pm

#173 East Coast Life Style on 12.08.20 at 10:53 am

#168 Huh?

Perhaps the real question is, are the vaccines even effective for those who most need them?

https://www.bmj.com/content/bmj/371/bmj.m4037.full.pdf

This isn’t anti-vax, Garth, so don’t ban me.

Come to think of it, a few notable historical figures who also sport a mustache liked censorship too…

This is a private blog, and I am under no obligation to hand over space to anyone. Refusing the vaccine is socially irresponsible and ethically challenged. It places self above society. That is not what this site is about. Choosing to not grant a voice to cowardice and egomania isn’t censorship. It is leadership. – Garth
…………………………………………………………………
This guy will be one of the first to get a shot!

“The needs of the many outweigh the needs of the few.” – Star Trek II: The Wrath of Khan, 1982

#183 Faron on 12.08.20 at 12:14 pm

#168 Huh? on 12.08.20 at 9:57 am

#10 SoggyShorts on 12.07.20 at 3:13 pm

when we’re convinced that it won’t do more harm than good. And that’s not selfish or cowardly…

I guess it isn’t technically cowardice when someone wont risk a little to save others. Lucky for you there are police, firefighters, emerg Drs, nurses, military personnel, coast guard, SAR, politicians and even citizen heroes who will step into a busy street to help a struggling elder. All of these people risk their well-being, either physical or financial, altruistically so people like you can wring their hands and assess risk and completely miss the moment to better society and actually meaningfully improve the world we live in. Bravo to you.

#184 Steerage science on 12.08.20 at 12:18 pm

#173 East Coast Life Style on 12.08.20 at 10:53 am
#168 Huh?

Perhaps the real question is, are the vaccines even effective for those who most need them?

Yes they are….

https://twitter.com/VincentRK/status/1336331663182233600?
s=19

#185 SoggyShorts on 12.08.20 at 12:36 pm

#168 Huh? on 12.08.20 at 9:57 am
#10 SoggyShorts on 12.07.20 at 3:13 pm
Cut your rhetoric as the more you spew it, the less people like me will listen. Stop trying to bully us into your misleading and illogical mantra.
******************
First of all, I think you are probably too far gone, but my hope is that someone reading our exchanges who is on the fence will see how ridiculous your position is and that vaccines make sense.

Why is it that all of you vaccine-hesitant people use the words “critical thinking” and yet fail to apply it?

“I’m goin to study the vaccine and make my own decision”
-WTF does that mean? Grab a quick doctorate degree?

“I’ll get it when I’m convinced it’s safe”
-How? How the heck are you ever going to be convinced? Clearly, the 15,000 test subjects weren’t enough, and it certainly sounds like the millions who will be in front of you in line won’t be enough.

Big pharma are scary liars
-There are checks in place, they can’t just sell poison FFS. Obama, Clinton, Bush, and the Queen are getting the vaccine.

But possible side effects!”
-There are known and proven really bad side effects from Covid. Including death.

That doesn’t even dip into social responsibility, where if you want to be a selfish coward you should at least be a quiet one and not try to sway others to your side. It’s self-defeating, you should want others to take it for you to protect you. Critical thinking, remember?

The more people who get the vaccine the safer you and your loved ones are, so you should at least lie and say you are on the side of reason to encourage others.

#186 Linda on 12.08.20 at 12:38 pm

So checked the government website. OAS & CPP are taxable; GIS is not taxable. The $300 ‘one time payment’ to qualifying seniors is tax free. Those who qualify for GIS should have received $500; qualifying seniors with disabilities apparently were eligible for $600, split into two separate payments of $300. Better than receiving no assistance & at least those payments were not subject to taxation.

#187 whiplash on 12.08.20 at 1:50 pm

DELETED

#188 Love_The_Cottage on 12.08.20 at 1:54 pm

#182 JB on 12.08.20 at 12:10 pm
“The needs of the many outweigh the needs of the few.”

or the one.

#189 Steerage science on 12.08.20 at 2:14 pm

A stunning scientific achievement…

https://twitter.com/florian_krammer/status/1336362836688297992?s=19

#190 Dr V on 12.08.20 at 2:51 pm

177 Faron – yes there are references to other documents, but no definition in this particular reg. Many
regs will show a definition as “that defined in the ….. Act
or….. regulation”so that the reader does not continually
have to chase other documents which may or may not
be in force at any particular time or have changed.

One more line of text in the definitions would clarify this, but perhaps the legislators did not want to do so to keep it up to their interpretation or ongoing developments.

Like the old trick in legal documents. Just gray enough so that the reader has to get a legal opinion.

#191 Dmitry on 12.08.20 at 10:14 pm

#185 SoggyShorts

I am with you on that- advocating publicly against vaccines is kind of dumb.

the one thing that should be argued against is any kind of mandatory vaccination or discrimination of non-vaccinated people- that violates basic rights.

Australia is an example of such a discriminatory place. If that contagion spreads globally the world be a less free environment, and that is never good.

Oh, and Garth, we can’t not share anything with our beloved finance minister as long as she is free to abuse our grandkids as collateral for out of control borrowing.

#192 christa cordick on 12.09.20 at 2:21 am

“The cash found its way into houses, into financial assets and has stuffed personal and corporate bank accounts. Worse, it seems to have flowed disproportionately into the hands of higher-income earners. You know. Folks like you. The WFH crowd.”

Where is the stats on this? I am a high-income earner who has been working from home since March and I haven’t received a dime of this cash. So, I am curious to understand how the government gave to the WFH high-income earning crowd? I criticize this Liberal government for lots and hope to vote them out, but not sure this stat is true.

#193 nosferatu on 12.09.20 at 5:16 am

Hey Garth,

I was wondering if you or Ryan/Doug/Sinan can speak to the impacts of Options. In short, the number of options traded since covid has gone up 2.5 TIMES since Covid. That is a rocketship to Mars if you look at the graph. It seems all the worlds gamblers had nowhere else to go when lockdown happened. Anyways, the volume of options being traded requires corresponding purchase of the underlying by the issuers – and the theory goes that this is a completely artificial driver for stock market valuation increases as opposed to intrinsic value derived increases. So therefore, crash coming when this house of cards collapses eventually. Would be great to get your take on this.

thanks
N

#194 PetertheSeparatistfromCalgary on 12.09.20 at 12:33 pm

This is where you see the benefit of checks and balances in the US system. The US Senate is making it harder for the government to spend, spend spend.

Trudeau doesn’t have to Mitch McConnell slowing his spending.