El Predicto

Covid 2.0. Trump. Lockdowns. Proud Boys. Vax cock-up. * Sigh*

And here we thought 2021 would be so… different. Wiggly and joylessly benign like a new pup. Instead we’re getting a wizened cur with hunks of red torso hanging from its chops.

But wait. The year’s only a few days old. Let’s have faith that vaccines, common sense and chastened leaders will make the next twelve months far better than the dumpster fire in the rear-view. In that spirit, GreaterFool, the home of world class steerage section epidemiologists, infectious disease gurus, virologists and immunization mavens, now turns its attention to what comes next for real estate.

Yes, and there’s a great deal to digest. Pay attention.

First, whither mortgage rates? There are two factors which, above all, drove the 2020 real estate miracle. One of them is the cost of money. Five-year home loans have sunk to 1.5%. Incredible. What now?

Well, we may know later tonight (Tuesday). If the Biden Dems sweep the Georgia elections then blues will control the US Senate. That pretty much guarantees more government spending, more Covid stimulus and bigger deficits. If it happens, US bond yields will likely increase, taking Canadian debt along for the ride. This will nudge home loan rates higher months earlier than expected.

If the reds keep the Senate (only one of two Republicans need win for that to occur) CBs will likely hold the course until this time in 2022 (or later). RBC says the first Bank of Canada hike will come in the second half of that year. However mortgage costs could rise sooner because, “Yields are expected to move progressively higher in 2021 as growth momentum both sides of the border accelerates.” James Laird, of Ratehub.ca, grees. “Expect bond yields to rise which will cause mortgage providers to modestly increase fixed rates, particularly at the end of 2021.” So, yeah, best to lock in.

The other big thing? WFH, of course, and its impact not only on sales and prices, but entire cities and regions. And not just in Canada. Can this continue even as vaccines roll out, workplaces repopulate and bosses demand that employees cart their backsides downtown?

The real estate cartel is certainly expecting so. Moody’s believes lower-density markets outside big cities will pop further, “driven by demand for properties with more space for working from home.” In the US, Redfin says this: “Areas with the fewest Covid-19 cases per capita are now seeing 60% faster growth in the number of people listing homes for sale than areas with the most cases per capita.” And that’s being replicated in Canada. For example in NS, where only two dozen mild cases of the virus exist today, real estate in Halifax and environs has plumped up to 40%.

And look what’s happened in Ontario, says Mortgage Broker News:

The secondary markets being buoyed by the urban exodus are not likely to remain affordable alternatives for long. Competition is already flaring up in off-the-beaten-path communities like Bancroft, Ontario, where the average home price in November 2020 was 24.3% higher than a year before, and in Woodstock, Ontario – population 40,000 – which saw its benchmark price for single-family homes leap 28.4% year-over-year in November.

But all this WFH exodus from the cities is having an impact not only on prices, but also on the number of ‘cheap’ houses that are available in the boonies, burbs and hick cities…

After 2020’s feeding frenzy, we expect the overall number of sales to suffer this year, not because of a lack of demand but because of a lack of available inventory. Long-time single-family owners who refinanced at today’s lower rates are sitting quite pretty and may have even less reason to sell. The booms seen in cities like Fredericton, Regina, and Quebec City took a major bite out of some of Canada’s few well-stocked housing markets. Without any data modelling to rely on, we still see sales holding their own against historical averages, but coming up somewhat short compared to 2020, probably by about 2-4%.

Meanwhile Covid madness has also been transforming the US. It’s expected that this year 14.5 million Americans will uproot themselves and move – mostly out of the smoke and into the hinterland. That’s the biggest exodus in 16 years and at the same time the homeownership rate in America is expected to top 70% – the first time that’s happened in a decade and a half (before the crash). Says Redfin: “Many employers will decide to stop expanding their offices in expensive cities like San Francisco, Seattle, Boston and New York and instead expand their satellite offices in more affordable cities like Phoenix or Atlanta. This will encourage even more office workers to leave expensive cities.”

And as the population shift happens – at least among the privileged WFHers who can afford to do so – the city’s condo stocks will continue to devalue until the vax lift kicks in. Ratehub.ca figures prices will keep falling for six months, then reverse. That will occur as vaccinations allow Airbnb to restore, when the uni students return, when immigration fires up again and as detached house prices soar, making condos the only viable option for newbie buyers.

So, what about prices?

Vancouver is “ready to surge,” says Royal Lepage, after a long stagnation. Up 9% on average. “We’re dealing with not just a few weeks of pent-up demand in Vancouver, we’re dealing with three years of pent-up demand,” says the firm.

Veritas believes mortgage deferrals coming to an end could drag down Toronto prices by 15%, but almost nobody agrees. CIBC is calling for a 3% increase. Lepage pegs it at 5.7%. Say the mortgage brokers: “We believe the national average home price will rise more than 10%, driven by demand for properties in smaller communities in Ontario, B.C., and Quebec, where prices have ample room to grow. Can Toronto put together another year of 10%-plus price growth? We wouldn’t bet against it. Too many people want to live there.”

Well, now you know.

My advice? No change. If you need a house and can afford one without gutting your finances or skewering your family, go ahead. Just don’t expect next year to look like last year.

191 comments ↓

#1 Flop... on 01.05.21 at 2:16 pm

I was looking to see what growthy assets to put in my TSFA, then I decided against taking a marijuana plant to the bank.

I now have a plan for the money earmarked for my next 10 yearly TSFA contributions

Gonna spend 60k on a storage locker like these guys…

M46BC

———————————

Vancouver real estate: cheapest properties sold in 2020 were downtown parking stalls, storage rooms.

“The least priced real estate deals in Vancouver last year did not involve the sale of homes.

What buyers purchased in these transactions were downtown parking stalls and storage rooms

One was parking stall number 77 at 1200 Pacific Boulevard. It sold on September 25 for $45,000.

The stall measures 153 square feet. It was listed for $49,995.

The three other spaces are located at the Vancouver House, a Westbank Corp. condo development at the north end of Granville Bridge.

In order to qualify for the deals, a buyer must own a unit at the Vancouver House.

On September 9, a 200-square-foot storage room sold for $50,000.

Marketed as a perfect place for a wine collection, the space includes its own water and power connections. It was listed for $69,900.

Another storage room of a similar size sold on October 7.

Originally priced at $69,800, the 200-square-(foot)-room storage went for $60,000.

Finally, an electric vehicle parking stall, also at Vancouver House, sold on August 10.

The 150-square-foot stall changed hands for $97,800 after it was listed for $99,800.

The deals were tracked by real estate site Zealty.ca.”

https://www.straight.com/news/vancouver-real-estate-cheapest-properties-sold-in-2020-were-downtown-parking-stalls-storage

#2 BlogDog123 on 01.05.21 at 2:19 pm

WFH is getting to me… Need more adult face-to-face discussion, brainstorming, whiteboards, miscellaneous interaction. Less 7:00 am or 9:00 pm meetings… More back to normal plz..

#3 Leftover on 01.05.21 at 2:20 pm

Maybe they’re right, house prices are going to increase another 5% to 10% in 2021. With mortgages at less than 2% it wouldn’t be a surprise.

It makes the case for taxing capital gains on principle residences even more compelling. People (mainly baby boomers) made money for doing nothing while the government showered liquidity on the housing market. Time to pay up.

It’s also the sane thing to do. Housing is to Canada what oil is to Alberta, an unproductive trap, the equivalent to hewing wood and drawing water.

#4 SoggyShorts on 01.05.21 at 2:28 pm

#214 SunShowers on 01.05.21 at 1:11 pm
#205 SoggyShorts on 01.05.21 at 12:24 pm
“I know working long days or 6 days a week sucks, but minimum wage is a temporary starter wage at a job, not a career”

There is no such thing as an “entry level job” or “starter wage”.

Are you familiar with the shape of a pyramid?
Is there room for all the space (people) at the base of the pyramid at the top? No, there is not.

*******************
That’s fine, because people retire or die.
———————————————–
#214 SunShowers on 01.05.21 at 1:11 pm
#205 SoggyShorts on 01.05.21 at 12:24 pm

These “starter” jobs are necessary. SOMEBODY has to do them, and there will never be a world where EVERYBODY can be a well paid business owner or CEO (at least not under capitalism). Capitalists and their apologists don’t want to be the ones working these jobs (which is fine), but then they twist themselves into logical pretzels trying to explain why they think the people who DO fill these necessary jobs don’t deserve to be paid enough money to live.

**********************
Capitalists like me put in our time doing those jobs. It’s where we learned the skills and earned the money to try and better ourselves.
Under communism, no one gets to be a CEO. Ever. regardless of effort, time, or sacrifice.

#214 SunShowers on 01.05.21 at 1:11 pm
#205 SoggyShorts on 01.05.21 at 12:24 pm
Here’s an idea. We’ll meet up in the downtown core (or other bad part of town) in the city of your choice and interview homeless people. For every down on his luck former capitalist who put it all on the line running his business and lost everything, you get a point. For every worker laid off due to automation, outsourcing, cost-cutting, etc, I get a point. First to 10 wins, loser buys lunch. You game?
********************
People with the guts and ambition to take a shot are rare.
Approximately 20% of new businesses fail during the first two years of being open, 45% during the first five years, and 65% during the first 10 years.
Do workers get fired at that rate?

Also, consider that being fired just means that you’ve lost tomorrow’s paycheck.
Losing your company can mean losing all of your previous paychecks too.

#5 SoggyShorts on 01.05.21 at 2:31 pm

#214 SunShowers on 01.05.21 at 1:11 pm
#205 SoggyShorts on 01.05.21 at 12:24 pm
Here’s an idea.

Hit send too soon-
meant to mention that the risk-taking entrepreneur types are also probably less likely to stay homeless

#6 Tron Light on 01.05.21 at 2:37 pm

So many prognosticators. All of us like to think, and say, what the future will hold but we have no idea. A year ago, did anyone predict this so-called pandemic would happen leading to all this chaos? Nobody did.

Leave the predictions to Nostradamus.

#7 Faron on 01.05.21 at 2:37 pm

#215 Sail Away on 01.05.21 at 1:12 pm

#212 Faron on 01.05.21 at 12:52 pm

and

#173 BillyBob on 01.05.21 at 5:41 am

Oh… you never noticed the vitriol doesn’t come from me?

At risk of further trampling Garth’s good graces and being banned myself for excessive commenting…

That’s endearingly forgetful of you. I recall you being banned once, if not twice and my early memories of reading the comments witnessed your musings about eating dog. You know that flap at the top of your tee-pee? It’s there to let the smoke out. CO is a killer. Really hard on the brain regardless.

BillyBob, it’s a real accomplishment that you managed to paternalistically indicate I should take time for introspection while simultaneously congratulating Coug for lampooning my introspection (which I can only admit was pretty hilarious and spot on). Bit of a trap, no?

And why the hate-on for Victoria? You’re, like, 3 for 4 in griping about a town many thousands of nautical miles from you with a broad enough mix of people that antifa sympathisers coexist with the Q-anon crowd with the BC gov with the Navy with the work-a-day crowd with the RE developers with the loggers with the fisherman with the Uni students etc i.e. it’s a town. Get over it. Sounds like your wings got a little singed here at some point in the past. Congrats on the vax.

#8 KNOW IT ALL on 01.05.21 at 2:40 pm

I am starting to get WORRIED here!

Everything just up up up.

This party can’t last forever.

https://www.cnbc.com/2021/01/05/jeremy-grantham-calls-this-one-of-the-great-bubbles-of-financial-history.html

https://www.cnbc.com/2021/01/04/carl-icahn-warns-that-the-market-rally-could-end-in-a-painful-correction-and-is-hedging-accordingly.html

#9 Honest Realtor on 01.05.21 at 2:43 pm

Large gains are on the horizon for the GTA property market and throughout southern Ontario. I expect this to continue for a decade or more. Real estate will continue to outpace other investment opportunities as far ahead as I can see.

#10 Big Jack on 01.05.21 at 2:44 pm

OK boomer

#11 Tripp on 01.05.21 at 2:52 pm

In order for ~36,000,000 million Canadians to get vaccinated this year (360 days left) our healthcare system needs to have the capacity for an average of 100,000 people a day.

Apart from logistics issues related to the procurement, storage and distribution of the vaccines, our healthcare officials and politicians need to clarify if this volume of inoculation is feasible, and what they plan to do if it isn’t.

#12 IHCTD9 on 01.05.21 at 3:13 pm

I like how this is shaping up. Even though the IH bunker complex is nowhere near the GTA, it is going to soar in value.

The drive to leave Toronto is so strong, they will pay 20, 30, 40, 50, 100% the going rate for houses 100’s of kilometers away just to make WFH happen. This is on top of the steady stream of young families and retirees already buying in every year.

There are several houses on the local MLS with lines in the water already, asking 30+% more than market value. The desperation has hit a fever pitch. They know if anyone is going to pay their totally insane list price, it’ll be someone from Toronto.

Just like that, Toronto takes one more step towards becoming primarily a landing pad for newcomers and a temporary campground for same. Get your self set up, then break camp for greener pastures. Every year that passes makes Toronto more expensive, crowded, segregated, and stinky.

Toronto is for the very rich, the very poor, and the temporary. Everyone else is already down the road and over the hill – or working on it…

#13 jack gitties on 01.05.21 at 3:15 pm

I came to Canada in 2011 after the GFC because Irelands economy had collapsed due to excess debt accumulation; bidding wars in the boondocks, work colleagues spending 9 times their annual wage on a ‘starter house’, real estate agents giving financial advice… sound familiar?

I love Canada, but it’s time to leave. All the things that brought me to this country are drifting away – affordable housing, reasonable taxes, efficient government, low population density in cities and towns.

Why would a skilled immigrant move to place with 55% income tax and housing this expensive? Why should I continue business in a place with such vicious costs and vicious winters. If WFH is here to stay, then places with fantastic climates and low taxes should be having a real estate boom, not Barrie.

#14 truefacts on 01.05.21 at 3:16 pm

From Yesterday (to Sunshowers)…

You sound so despondant in your posts. Capitalism breeds opportunity…you have the power to find a job that pays better than your current situation.

Work ethic is why immigrants outperform native born Americans (and Canadians)

https://www.nbcnews.com/news/latino/immigrants-outperform-native-born-americans-two-key-measures-financial-success-n1020291

Showing “India” as a failure of capitalism is not reasonable – India is a SOCIALIST country

https://www.adamsmith.org/blog/india-and-the-tragedy-of-socialism

Look at the list of top capitalist countries:

According to the 2020 Economic Freedom of the World Index, the top 10 capitalist countries (ranked from highest score to lowest):

Hong Kong
Singapore
New Zealand
Switzerland
Australia
United States
Mauritius
Georgia
Canada
Ireland

These are not “exploitive” countries. These are countries that have thrived under capitalism. To bring out the tired old argument of free labour (slavery) as an answer to their wealth ignores the fact that slavery was abolished over 150 years ago, yet during that time the US became the richest and most powerful country in the history of the world.

#15 SOMETHINGS UP!! on 01.05.21 at 3:27 pm

EVERYBODY talking and acting like 2021 somehow all of a sudden magically different from 2020.

When last did the virus come out and say “everything will be better this year so worry no more?”

Truth is even with vaccines we got years of rolling lockdowns to go.

They just SHUTDOWN ALL OF ENGLAND for frick sakes!

#16 Peter McLean on 01.05.21 at 3:40 pm

My advice?

Panic!! Eat all your money and then get mad you don’t have any.

#17 Karl hungus on 01.05.21 at 3:44 pm

I think sunshowers has taken 1 too many university courses. All theory, no practicality

#18 westcdn on 01.05.21 at 3:52 pm

I do not ask people to do what I will not. It has cost me. My honor remains.

I do not micromanage people. Many are better so I just check where they are going. What is good leadership? – hell if i know but i will do what feels right ( i think my intuition is strong – may be the force). Just don’t lie to me.

I think games are about avoiding mistakes. I don’t play games and many don’t like it. I will take my losses. Break my rules and deal with the consequences.

#19 Earlybird on 01.05.21 at 4:02 pm

#11 Tripp Looks like 36 million will need to get vaxed…however its a 2 part deal…so 72 million jabs…likely wont happen before the virus changes again…they need a 1 dose vax.

#20 Brett in Calgary on 01.05.21 at 4:04 pm

You may well be correct, but the fundamentals of system don’t make sense to me if this is the case. What are you expecting will drive prices? Wages?
=============================
#9 Honest Realtor on 01.05.21 at 2:43 pm
Large gains are on the horizon for the GTA property market and throughout southern Ontario. I expect this to continue for a decade or more. Real estate will continue to outpace other investment opportunities as far ahead as I can see.

#21 crowdedelevatorfartz on 01.05.21 at 4:06 pm

@#11 Tripp
“In order for ~36,000,000 million Canadians to get vaccinated this year (360 days left) our healthcare system needs to have the capacity for an average of 100,000 people a day.”

++++

Until the policy bureaucrats and politicians pull their collective heads out of their collective asses….. 10,000 per day Canada wide will be wishful thinking.

We are finally seeing what endless meetings and endless “empowerment” creates.
Analysis paralysis.
Legions of “leaders” with no one willing to get their hands dirty….

I cant wait to see the finger pointing start in the next few weeks between the various federal, provincial and municipal talking heads that cant agree on anything but blame everyone else.
As Covid deaths continue to increase and the dreadful vaccination “plan” fails to start.
Its a shame govt managers and their lickspittles cant be immediately fired for their incompetence, instead of promoted, but that’s the pathetic Human Resources way….too tough to fire so lets promote them into another position where , hopefully, they can do less harm….

Time for the voters to toss them all out and start over…..again and again and again if thats what it takes….

#22 SunShowers on 01.05.21 at 4:08 pm

#4 SoggyShorts on 01.05.21 at 2:28 pm
“That’s fine, because people retire or die.”

That doesn’t really address the issue. Just because some people at the top of the pyramid retire or die does not expand the size of the pyramid top itself. There are still orders of magnitude more people at the base of the pyramid in “entry level” jobs than there are “well paying” jobs at the top of the pyramid.

Not only are these well paying jobs at the top of the pyramid dependent on the existence of the lower paid jobs at the bottom, it is patently nonsensical to blithely tell people that if they work hard/etc they can ascend the pyramid. There are literally not enough good jobs to go around for that to be a universal truth.

And for the record, I’m not a communist, I just don’t bother correcting people who accuse me of being one. To be fair, if there was an election between a communist and capitalist I would vote for the communist, so if that’s close enough for you then knock yourself out. But I think that if your entire political/economic ideology can be distilled down to a single term (especially one as loaded as communist or socialist), it’s probably not nuanced enough to be of any use to anyone.

“People with the guts and ambition to take a shot are rare.”

People with startup money are more rare.

#23 Hilroy on 01.05.21 at 4:15 pm

#4 SoggyShorts on 01.05.21 at 2:28 pm

It’s not capitalism when immigration is used to throttle market forces such as wages. It’s more like racketeering.

#24 Another Deckchair on 01.05.21 at 4:15 pm

@2 BlogDog123

“WFH is getting to me… ”

Agreed. I’ve been WFH for coming on for 5 years now. Programming @home. Used to go to the odd meeting with colleagues in different towns, go for lunch at a local diner, too. Helps when doing emails or video cause you *know* them. (BTW, I’m a young boomer)

Neighbours who are the age to have young kids also can’t wait to get back to the office.

You learn a lot about a lot of abstract things when socializing F2F. ZOOM doesn’t cut it; those who *love* WFH 100% will end up poorer for it.

#25 Linda on 01.05.21 at 4:25 pm

This will be a winter of discontent. First, the vaccine rollout is not going to be done in a day. It will take months, possibly years, to vaccinate the population at large. Until that occurs I really can’t see WFH becoming yesterdays news, let alone the revival of industries impacted by Covid shutdowns.

Speaking of the economic fallout from literal millions being out of work, really have to think that purchasing RE will not be possible for many, notwithstanding historic mortgage lows. Unless NINJA financing (no income, no job/assets) roars back to life, shades of 2008. Surely not, but the crazy just doesn’t seem to stop so who knows? Though todays pup photo looks totally prescient:)

#26 Sail Away on 01.05.21 at 4:28 pm

Isn’t it just so satisfying when stock purchases all go up the next day?

And for Faron, because I know you’re in my corner: TSLA now a 42-bagger.

#27 Flop... on 01.05.21 at 4:30 pm

Just saw an old blog buddy from here commenting in the paper, should probably give him some love.

During early 2017, when my Pink Snow Project started to gain some traction, realtor Adam Major posting under the heavy disguised name of “Adam”, probably decided I wasn’t going to give up on my threat of circumventing the current system of the day until some transparency had been brought to the Vancouver real estate market.

I’m not sure how many times he confirmed my information, but it was appreciated as there were a lot of people on here lobbying to keep the status quo.

After he finished helping me out, he started up his own website named Zealty.

Anyway, besides B.C Assessment, we now have Zealty.ca and REW took over Property Insights, which was outdated and floundering, so Rew Insights is now also a useful tool to track the market if you are looking to purchase and not pay too much.

Don’t think Adam posts on here anymore as Trump and Anti-Vax didn’t seem like his thing.

Stated he had 2 million visitors last year, so good for him, and hopefully sales are brisk as he gets rewarded for his efforts…

M46BC

—————————————–

“Vancouver real estate: listed $17.3 million, sold at 60 percent discount for $7 million, villa cited best deal in 2020.

The heavily discounted sale of a French-inspired villa may be the best deal in Vancouver in 2020.

That’s according to Adam Major, managing broker with Holywell Properties, a real-estate company that also runs Zealty.ca, an online property-information site.

When asked by the Straight to name the most interesting transaction in the city for the year 2020, Major pointed to 3688 East Boulevard.

As for Zealty.ca, Major said that the site had over two million visits last year.”

https://www.straight.com/news/vancouver-real-estate-listed-173-million-sold-at-60-percent-discount-for-7-million-villa-cited

#28 Up She Goes on 01.05.21 at 4:32 pm

And to think, only a few short months ago, the pandemic fears outlined a correction to the market – with 700,000 mortgage deferrals and the threat of a mortgage deferral cliff; 8 million Canadians on CERB with an official 20% unemployment rate; and hundreds of thousands of service sector and tourism jobs wiped out.

And stunningly, prices went up in every single market in every part of the country while CERB flushed workers cashed their ‘free money’ into new house, renos, online trading accounts, boats and bikes, and Uber eats. No mass unemployment. No cash strapped house owners. No decline in consumer spending as it simply shifted to other areas.

The feds promised to take care of the masses – and they did with their own money. And with a Spring election set to solidify a majority for the very people that created these conditions, it going to be nothing but prices to the moon.

Don’t fight the herd and the feds – doing so has cost people dearly for a decade.

Looks like 2021 will be like 2009, where the every looming threat of rising interest rates and melting house prices gets replaced with a decade long rise in prices and snail pace rise in interest rates.

You know what happened from 2009 on right? A decade later, that trend remains intact with the exact same macro conditions. Rent and sit on the sidelines are your own peril.

#29 TurnerNation on 01.05.21 at 4:33 pm

Crazy post time. As I’ve heard it the Long Game is that we become so fed up with our local leaders, police that we welcome the new UN forces and global government one day.
It’s as if the continually new CV rules and lockdowns, coming curfews and of course control over our travel, is solely to this end. Or for our health Comrades?

Anyway view all the daily changes in that context…and it almost all makes sense.
And if we go Broke as a county this will only hasten the march.

The ‘media outlet’ that rhymes with Pebble, basically this WWE-styled news show only serves to incite.

#30 baloney Sandwitch on 01.05.21 at 4:42 pm

Just buy solid dividend-paying companies. Growth companies are just too expensive. The Robinhood boys are out of control buying call options.
https://userupload.gurufocus.com/05Jan20211101061609866066.png

#31 DWC on 01.05.21 at 4:47 pm

Every time I hear our prime minister speak I lose more and more confidence in him. I honestly think this nation is in serious trouble with this guy in charge. Maybe it is just me.

#32 Barb on 01.05.21 at 4:47 pm

“…demand for properties with more space for working from home.”

——————————————
So I should probably edit the For Sale text for our place.

new version:
“12×15 dedicated office just inside main entry, with rainglass door (so family doesn’t witness you snoozing), with expansive valley views through the sun-filtered large window. Dog-leash fits nicely over latch, tile entryway easy to wipe doggie paws from.

The rest of house? 3 more levels, so you’ll neither hear your family inside nor splashing in the backyard 16×32 pool.

Dog slipped his leash? He’s out there, somewhere, on your 15 acres.”

That oughta do it!

#33 Doug t on 01.05.21 at 4:48 pm

I can’t wait for 2022

#34 Dolce Vita on 01.05.21 at 4:53 pm

I think the de-urbanization of Canada was to be expected, it just needed something like a pandemic to push it along.

Cities with a population of 250,000 or more:

Canada…22 (38 million)
Italia……10 (60 million)

As Western countries mature, the population spreads out.

I left 2.5M GVRD for wee little 52K Pordenone in Italia and glad for it.

Canada and its good people are learning that all that glitters is not gold (e.g., large cities) and that small town Canada does indeed have it’s charms.

Witness to that, our intrepid Blogger himself – Garth.

All of this is a good thing to me for Canada.

——————————-

By the way, Sarah Cooper’s (@sarahcpr) informal Twitter:

WFH, “Yes I Love It” or “No I Miss the Office” final poll results…

Yes….68.1%
No…..31.9%
91,751 votes (a statistically significant sample size to say the least)

Well, at least we know where the Dems in the US will be working from in the near future if they had their way.

Overlord THUMPED by the WFH’ers.

[Jury still out…Garth’s US compadre HR and Toronto Lawyers equivalent sure to have a say and undoubtedly scare the dickens out of them to return to the Office – then again, they’re Dems so good luck with that in the US]

#35 The real Kip (Ret) on 01.05.21 at 4:56 pm

Wow. Wonder what ever happened to Evan Siddall? Layin low I guess.

#36 SunShowers on 01.05.21 at 5:00 pm

#14 truefacts

Extremely hilarious own-goal for you to list Mauritius and Georgia as examples of capitalist success when as of 2017 over 85% of Mauritians and 95% of Georgians live on under $20 USD per day (2011 PPP), and they’re only on your list of “most capitalist nations” because they are notorious tax havens for billionaires and multinational corporations. Color me shocked!

And slavery absolutely still matters, because as I’m sure Garth and anyone here will tell you, wealth is generational, and compounds on itself and grows over time.

Let’s do a little thought experiment.

First, you give away all your wealth. You start with nothing. I start with my current level of wealth.

Then, you work for me for free for 250 years. You are paid nothing, and I get all the money from your labor.

Finally, we both work equally as hard and are paid the exact same amount for a further 150 years. Never mind the fact that black people have NOT been paid the same as white people for the last 150 years. Not by a longshot. But I’ll be generous.

Who’s going to have more money at the end of this experiment?

#37 Tipler on 01.05.21 at 5:03 pm

To #24 Hilroy;

You are so right: #4 SoggyShorts, also forgot what it means for capitalism to function properly. 2008 was a perfect example of few mega business that took private jets to a bail out hearing and said they were to big to fail. If it wasn’t for their friends in government bailing them out their companies would have been gone! The risk of running a business was removed when that happened.

#38 KlausSchwab on 01.05.21 at 5:03 pm

UK in another month-long lockdown. After the grand success of the previous ones. They thought they’d give it another go. The masks really seem to be working…

#39 Dolce Vita on 01.05.21 at 5:06 pm

Canadians have become risk takers, a good thing.

The old story used to be:

“Americans aspire to be their own bosses, Canadians aspire to work for the Government.”

Cdns in the middle of a pandemic taking on large debt in a low rate environment that is likely to change into higher rates is risk taking to me.

Add to that the whole WFH issue has not been sorted out and will not be until the pandemic ends. So again, Cdns fleeing cities for small town Canada banking on WFH being permanent are indeed risk takers.

I am all for it, the risk taking.

An ebullient Canada will emerge from the pandemic and I am pretty sure “The Little Economy that Could (and Does)” will create wealth and opportunity as it has up until now (and will even more in the very near future).

Here’s hoping.

#40 Guelph Guru on 01.05.21 at 5:13 pm

Another 10% year for RE. That would be awesome. Canadian RE has so far turned out to be the best investment in the last 2 decades. Future looks flat or up. Way to go.
All my friends cannot stop talking about their house prices. No one mentions the property tax increases.
Will it change. Who knows? Hope it does.

US equity returns crushed Canadian real estate performance over this period. – Garth

#41 macduff on 01.05.21 at 5:15 pm

In Ottawa we recently spent a gabillion dollars on a fancy LRT system that has been fraught with problems. Fraught system is now being expanded further into the ‘burbs. With more WFH, especially among government workers, this could be the worst boondoggle imaginable.

#42 Chris L on 01.05.21 at 5:20 pm

Question for Garth and any other Blog Dogs watching the CDN vs USD.

I am planning on converting some cash to purchase USD Traded Securities/ETFs. Is now the best time to convert with the run up to 79 cents, or will it keep going past 80 cents into 2021?

Thanks Chris.

#43 Dolce Vita on 01.05.21 at 5:25 pm

What you wrote about today Garth, all 2021 inspirational, is well and good but there is this ELEPHANT in the Canadian LIVINGROOM called:

Covid-19.

Vax’ng at a snail’s pace and unlikely to come anywhere near Trudeaus “all that want to be vaccinated by September will be” Math challenged admonition. Herd immunity at 70% likely but “all that want to be” try 2022.

Cdn Virologist today on Twitter claiming:

“Canada will see the UK variant take hold by mid-March”.

With the CURRENT and more BENIGN Covid-19 virus Canada not doing so good and approaching the hapless EU in new cases per capita with neither of the 2 yet seeing the effect of the UK variant:

https://i.imgur.com/A8K7Qv7.png

Expect hospital and ICU ward beds to be clogged in Canada (and the EU) sooner than later.

Still, deaths per capita remain low in Canada vs. the EU and UK:

https://i.imgur.com/AzD1WKp.png

but you have to ask yourself for how long will that last?

You are inspirational Garth but what you write about comes in 2022 not in 2021.

-Sorry

#44 KlausSchwab on 01.05.21 at 5:25 pm

The ironic thing about the lockdowns is that they probably created the newer more infectious strains. If everyone is half-assed distancing then the less infectious strains will die out while the more infectious mutations will continue to spread.

It really shows the futility and folly of man’s attempt to legislate against microscopic pathogens using heavy-handed authoritarianism.

#45 Cto on 01.05.21 at 5:25 pm

BoC’s turned GF’s into geniuses!

#46 sailedaway on 01.05.21 at 5:27 pm

#13 jack gitties on 01.05.21 at 3:15 pm

“Why would a skilled immigrant move to place with 55% income tax and housing this expensive? Why should I continue business in a place with such vicious costs and vicious winters. If WFH is here to stay, then places with fantastic climates and low taxes should be having a real estate boom, not Barrie.”

————————————————-

Amen. Came here in 2009 and it is getting worse and worse (remember, you’re not allowed to say anything negative in Canuckistan but others can judge you)

Where would you be heading tho?
Has Ireland come back from its doldrums? I’d think Brexit, the possible re-unification with N.I and the general state of Europe would be discouraging.

PS I’m not Sail away, I’m a nice guy with more than $$$ on his mind

#47 crowdedelevatorfartz on 01.05.21 at 5:38 pm

@#32 DWC
“Every time I hear our prime minister speak I lose more and more confidence in him.”
+++

Has anyone heard or seen the PM live and in the flesh in at least a week?

Twitter posts from the Dominican is so slow these days…

Media conference today. – Garth

#48 Dolce Vita on 01.05.21 at 5:42 pm

#39 KlausSchwab

Instead what that should tell you is that the new variant is by far more INSIDIOUS than the current benign version still festering in the rest of World including Canada (South Africa’s similar variant worse yet than the UK variant – it is probably plane hopping its way across the globe as I type).

So what you have to state to the rest of us is this vis-à-vis UK’s lockdown:

What is your solution instead?

Easy to throw rocks at glass houses.

Proffer your solution now since it is expected the UK variant will take hold by March of this year in Canada.

South African variant, who knows when it will make its debut (and it will if recent history serves as a guide)?

#49 Dolce Vita on 01.05.21 at 6:02 pm

As hopeful as the next person for Canada vanquishing the pandemic and emerging like gangbusters not just economically but as a people.

Then again, there is reality and the current situation.

I believe most Cdns as diligent as ever evading Covid-19 but there is that minority, the SELF-INDULGENT, that flaunts that.

Too many “Do as I say, not as I Do” Cdn politicians betraying the public trust a reflection of that self-indulgent cohort.

Cdn vax’ng should be at 600,000 per week to vax the herd by end of 2021. 3 weeks so far:

131,000

And if you believe that Covid-19 is mutating, it has only one cohort yet to conquer:

The Young

Look at the stats. Recent median ages of the infected dropping. Google it if you do not believe me.

Mother Nature will find a way to nurture, promulgate its latest creation. Expect that.

History a good teacher. So far the lesson is Mother Nature will find a way and she has demonstrated thus far that she is more clever than us humans.

#50 Faron on 01.05.21 at 6:03 pm

#37 SunShowers on 01.05.21 at 5:00 pm

I know I’m not alone in rooting for you SunShowers as you fight the good fight. Keep at ‘er. The greed here can be thicker than the gaseous clouds in the elevators of a certain poster’s condo building.

#51 Matsebula on 01.05.21 at 6:07 pm

Garth, this sounds somewhat like the thesis of Richard Florida in his book The Great Reset…but not the conspiracy weirdo Great Reset everyone is talking about now.

Excellent book and probably a timely re-read given the high probability of very interesting opportunities post-pandemic. Another roaring twenties is highly probable.

#52 Michael in-north-york on 01.05.21 at 6:10 pm

A bit late to the party, but: yes, TFSAs are very handy. Thank you, mister Turner!

I knew about TFSAs since 2009, but was giving priority to my RRSP until recently. I wanted some dough in my RRSP to offset a possible job loss. Investing in an RRSP and getting a refund at a higher tax rate, then withdrawing the same amount next year when I might not have a job, would give me some tax advantage right away.

That being done, going mostly for TFSA now.

#53 zoey on 01.05.21 at 6:10 pm

Listen to the bond market not to a realtor pumping … the BoC can’t fight rising yields long term unless they print forever. If the BoC had any brains ( and they don’t ) they would start raising them in the spring before the RE bubble gets bigger. RE is far riskier now than its ever been if your renewing in 5 years.

#54 Michael in-north-york on 01.05.21 at 6:14 pm

SunShowers, “wealth is generational”? Then, how do the immigrants come here with a few hundred dollars (at most) in the wallet, and earn enough for a good life and good retirement?

#55 Love_The_Cottage on 01.05.21 at 6:17 pm

#43 Chris L on 01.05.21 at 5:20 pm
Question for Garth and any other Blog Dogs watching the CDN vs USD.

I am planning on converting some cash to purchase USD Traded Securities/ETFs. Is now the best time to convert with the run up to 79 cents, or will it keep going past 80 cents into 2021?

Thanks Chris.
______________
You may already be aware, but you can buy CAD hedged ETF’s and the MER is still low.

https://www.vanguardcanada.ca/individual/indv/en/product.html#/productType=etf&managementStyle=index

#56 Ken M. on 01.05.21 at 6:26 pm

Woodstock? Do you remember Woodstock, ON? Or were you too young?

#57 AlbertaGuy (tapping fingers) in AB on 01.05.21 at 6:28 pm

#11 Tripp on 01.05.21 at 2:52 pm

While the press and SJW focus on who went where and when remember its just to distract us from the fact that at current rate it will be closer to 2 years before 36M jabs x 2.

Sort of mind-boggling to think that for 9 months the large heads couldn’t forsee the need for 24×7 injection sites.

Please stand by.

#58 DON on 01.05.21 at 6:30 pm

If Trudeau gets his majority…housing may be left alone to fend for itself. His last term?

Lack of good paying jobs dilutes the pool of available buyers even with low interest rates.

Last year this time the World economy was on shaky ground due to debt and the end of a business cycle. The virus came and so did the free money. Are we to believe that we will escape any ‘hang over’ as we enter this brave new world where the fundamentals no longer matter?

So instead of dealing with the hang over the virus pumped more money into the fray. I wouls be worried about the future.

Arrogance and bravado to the extreme.

Before the holidays it was the vaccine euphoria. Dam the facts and unknowns…now the holidays are over and reality is setting in. High house prices are a barrier to sales. How many folks can even afford to step on the bottom rung of the property ladder.

#59 crowdedelevatorfartz on 01.05.21 at 6:53 pm

My Goodness.
5th wind and rain storm in 7 days!
Apocalypse2021 is upon us!
Pouring rain and so windy the Ferries are shut down for today.
Looks like Floppie is stranded for another day.
peak winds at 6pm Van time…..
Gotta get this out before the power is kaput !( as Ponzie would say).
Glad I have lots of alcohol, canned beans and candles to get me through the worst of it…..
Dont worry folks. The candles will be socially distanced from the methane projector….

#60 SunShowers on 01.05.21 at 6:55 pm

#55 Michael in-north-york on 01.05.21 at 6:14 pm
“How do the immigrants come here with a few hundred dollars (at most) in the wallet, and earn enough for a good life and good retirement?”

Pensions, unions, and fair wages.

In short, your hackneyed rags to riches immigrant trope largely hasn’t been applicable for the last 40 years or so.

#61 Nonplused on 01.05.21 at 7:03 pm

Got an email from my MLA detailing all of the people Kenny has either fired or removed from cabinet for travelling over the Christmas break. What wrong with these idiots? If things keep going at this rate Notley is going to be premier again. And what kind of leadership does this show?

Nenshi has had the same problem with 2 of his staffers. Jetted off to Hawaii.

Had to make a milk run today mostly because the truck was completely full of recycling and we were running out of places to store it all, but also for milk. I can report that the toboggan hill was decidedly less populated but I think that is more because the work vacation is over more so than that people finally grew a brain.

As for the vaccinations, I think they are going as well as one would expect. You can’t just print a billion of these things up overnight the way the Fed can create money. Plus there is always a “learning curve” on such a big project. Back in my construction engineering days, we used to calculate it into our estimates. We knew, for example, that the carpenters were going to stand a lot more forms per manhour toward the end of the project than they did at the beginning. Same sort of thing can be expected here.

As for the Georgia elections, well I guess the polls close in about an hour. If we see the same thing as we did in the general election, with the republicans clearly in the lead when the voting stops overnight and then an amazing come from behind win for the democrats come tomorrow morning, the conspiracy theory that this election was stolen in broad daylight will never go away. As Joseph Stalin is claimed to have said, “It’s not the people who vote that count, it’s the people who count the votes.” (*That attribution is disputed.)

What about “it takes longer to count mail-in ballots than ones punched into a voting machine” do you guys not understand? – Garth

#62 crazed and a little confused on 01.05.21 at 7:04 pm

Hi garth

i skipped all the house pumping posts because you can only read the same news so many times .

i will stick to the science . given that i work at hospital representing the university. there is talk about the vaccine roll out. i seriously doubt we will get it soon. i think u implied sometime in june 2021.

Since i dont deal with patients directly i think my vaccination time would be about late Sept , October.

I think you are overlooking the students : primary, high school and univ…

those places are germ breeding grounds. to go back to school in Sept. they need to be vaccinated first .

stay safe

#63 truefacts on 01.05.21 at 7:06 pm

#37 Sunshowers

But what about the other 8 countries – or all the others that have succeeded?

Ignoring the uber rich dynasties (ex. Rockefellers), most wealth was first generation – that’s why immigrants that come to North America pessinless end up doing well – hard work and frugality. it’s not based on history from over a century ago…but individual decisions. Read “The Millionaire Next Door” for statistical data.

I understand that we are not going to agree, but what system would be better???

#64 zoey on 01.05.21 at 7:24 pm

#59 DON

Nice to read some common sense, I agree 100%. Eventually the band-aid has to be ripped off. RE is Alice in Wonderland when she’s 10 feet tall.

#65 Sara on 01.05.21 at 7:25 pm

#51 Faron on 01.05.21 at 6:03 pm
#37 SunShowers on 01.05.21 at 5:00 pm

I know I’m not alone in rooting for you SunShowers as you fight the good fight. Keep at ‘er. The greed here can be thicker than the gaseous clouds in the elevators of a certain poster’s condo building.
———————

Though I’ve been mostly silent, count me in amongst the rooters for SunShowers.

#66 Nonplused on 01.05.21 at 7:29 pm

#14 truefacts on 01.05.21 at 3:16 pm
From Yesterday (to Sunshowers)…

You sound so despondant in your posts. Capitalism breeds opportunity…you have the power to find a job that pays better than your current situation.

Work ethic is why immigrants outperform native born Americans (and Canadians)

———————————

I think part of the problem is that the use of the word “capitalism” has evolved considerably since Adam Smith first coined it.

Adam Smith meant something along the lines of investing profits in improvements to land and equipment to further increase productivity. For example a farmer clearing his land of rocks and buying a plow was capitalism. Machinery used for production of goods also counted.

In modern parlance, “capitalism” has grown to mean something more like “finance”. The meaning of “capitalism” that might have included the construction of a new factory and the associated jobs has been replaced by a definition more closely aligned with a leveraged takeover of that factory using fiat money and then raiding the pension and laying off all the workers so you can charge more for the products being built at the factory you already had.

It seems to me that now that the word “capitalism” has been coopted to mean something other than its’ original meaning, we need a new phrase to describe it. For lack of a better idea I propose “reinvestment of profits”.

And as for “immigrants outperform native born Americans (and Canadians)” I am not so sure that is true. They seem to perform about the same to me. I suppose maybe the immigrants have the edge because you are getting the people that have the drive to seek a better life even if it means moving to another country. But nobody should ever assume this is a charitable act. We are stealing the best and brightest from countries who need them the most.

#67 Sara on 01.05.21 at 7:32 pm

#62 Nonplussed
“As for the Georgia elections, well I guess the polls close in about an hour. If we see the same thing as we did in the general election, with the republicans clearly in the lead when the voting stops overnight and then an amazing come from behind win for the democrats come tomorrow morning, the conspiracy theory that this election was stolen in broad daylight will never go away. As Joseph Stalin is claimed to have said, “It’s not the people who vote that count, it’s the people who count the votes.” (*That attribution is disputed.)”

What about “it takes longer to count mail-in ballots than ones punched into a voting machine” do you guys not understand? – Garth

——————————–
Also, Trump discouraged his followers from voting by mail whereas Biden did the opposite because (unlike Trump) he cares whether or not people get COVID.

#68 Nonplused on 01.05.21 at 7:35 pm

“What about “it takes longer to count mail-in ballots than ones punched into a voting machine” do you guys not understand? – Garth”

Actually, most of the mail in ballots can be counted ahead of time, and dropped when the polls close. And it would be better to do so than count them after, so as to provide results in the most timely manner possible.

But the main source of contention is why would the mail in ballots differ so much in their count ratios than in person voting? Is there really a psychological difference that makes one type of voter much more inclined to use mail in ballots than another? Could be. But it doesn’t seem intuitively obvious why that would be.

#69 Quintilian on 01.05.21 at 7:37 pm

Can Toronto put together another year of 10%-plus price growth?

I think it is an easy equation:

Time x speed = distance (cliff)

The faster the price acceleration, the sooner we get to the crash site.

#70 mike from mtl on 01.05.21 at 7:45 pm

#42 macduff on 01.05.21 at 5:15 pm
In Ottawa we recently spent a gabillion dollars on a fancy LRT system that has been fraught with problems…
/////////////////////////////////////////////////////////

Hey not to be outdone, we too are right on course with an even bigger boondoggle. In this country, QC is the undisputed king of cash burning. Ridership profitability might take shape by 2030, and that’s generous.

Though to be fair the original 1960s system being completely underground was too ungodly expensive and a product of its time. Should have been semi exposed like the rest of the world.

#71 Nonplused on 01.05.21 at 7:47 pm

#22 crowdedelevatorfartz on 01.05.21 at 4:06 pm
@#11 Tripp
“In order for ~36,000,000 million Canadians to get vaccinated this year (360 days left) our healthcare system needs to have the capacity for an average of 100,000 people a day.”

++++

Until the policy bureaucrats and politicians pull their collective heads out of their collective asses….. 10,000 per day Canada wide will be wishful thinking.

———————————

Don’t worry Fartz, Co-op, Costco, and every other grocery store with a pharmacy (and pharmacies with a grocery store) will be distributing this thing once it is widely available just like they do with the annual flu shot. Early days my friend. It is a snowball rolling down a hill.

#72 crowdedelevatorfartz on 01.05.21 at 7:51 pm

Gee.
Tiny little Israel has managed to inoculate over 1 MILLION of its citizens in 10 days……
Proof positive that Canadian bureaucrats only excel in one thing ….. talking.

https://www.irishtimes.com/news/ireland/irish-news/it-s-being-treated-like-a-war-israel-s-rapid-covid-19-vaccination-drive-1.4449213

#73 Nonplused on 01.05.21 at 7:52 pm

#24 Hilroy on 01.05.21 at 4:15 pm
#4 SoggyShorts on 01.05.21 at 2:28 pm

It’s not capitalism when immigration is used to throttle market forces such as wages. It’s more like racketeering.

———————————

Yup, agreed. But unfortunately you can only buy what you can afford so that tactic is inherently self defeating over the long run.

#74 -=withwings=- on 01.05.21 at 7:53 pm

@#4 soggy bottoms

Capitalists like me put in our time doing those jobs. It’s where we learned the skills and earned the money to try and better ourselves.
Under communism, no one gets to be a CEO. Ever. regardless of effort, time, or sacrifice.

False. Like so stupidly false it boggles the mind. Who do you think ran the factories in Russia? some randomly picked min wage earner? Nope, you worked your way up to be the factory lead, just like anywhere else.

Also, consider that being fired just means that you’ve lost tomorrow’s paycheck.
Losing your company can mean losing all of your previous paychecks too.

huh?

People with the guts and ambition to take a shot are rare.

No they aren’t. Every year about 100,000 new businesses are started in Canada and there are well over 1.2M running at any time

Approximately 20% of new businesses fail during the first two years of being open, 45% during the first five years, and 65% during the first 10 years.
Do workers get fired at that rate? </i?

For job switching those are about right.

You seem to have a very inflated opinion of yourself. You just sound scared to be honest, desperately humble bragging hoping others will validate you. Sad.

#75 meslippery on 01.05.21 at 7:55 pm

#36 SoggyShorts on 01.04.21 at 4:45 pm

#9 SunShowers on 01.04.21 at 3:42 pm
What does productivity have to do with wages?
If I hire someone to nail wood together for $20/h and then buy an expensive nailgun so that he can do it twice as fast, do I owe him $40/h?
——————
I think a better point might be if in 1976 you paid $20.00/hr for a nail wood together dude today its $91.47/hr
https://www.in2013dollars.com/us/inflation/1976?amount=20

#76 DON on 01.05.21 at 7:55 pm

#60 crowdedelevatorfartz on 01.05.21 at 6:53 pm
My Goodness.
5th wind and rain storm in 7 days!
Apocalypse2021 is upon us!
Pouring rain and so windy the Ferries are shut down for today.
Looks like Floppie is stranded for another day.
peak winds at 6pm Van time…..
Gotta get this out before the power is kaput !( as Ponzie would say).
Glad I have lots of alcohol, canned beans and candles to get me through the worst of it…..
Dont worry folks. The candles will be socially distanced from the methane projector….

***********
Haven’t had to fill up the dogs water buckets for two weeks now. I put a 3rd one outside on Saturday and it filled up during the daylight hours. They love rain water. Now the winds are picking up after the ground is saturated…TIMBER and lights out. It is flooding on parts of Vancouver Island and that doesn’t usually happen until the March monsoons. At least we got a glimpse of the sun in between showers on the weekend.

Only Fishman can battle these winds to save Flop (no offence BC Ferrys….but you know what I am saying). You know…one day they will charge you for that methane output…best to start buying carbon credits.

#77 Blessed_Canadian_Millenial on 01.05.21 at 7:56 pm

#37 SunShowers on 01.05.21 at 5:00 pm
#14 truefacts

And slavery absolutely still matters, because as I’m sure Garth and anyone here will tell you, wealth is generational, and compounds on itself and grows over time.

—————

Umm… wealth lasts for no more than 3 generations. This is a proven fact.

Second point: look at forbes 100 rich list and see how many names have changed since just 1990.

My point is that those who are rich now will not remain rich as their wealth will come and go. Don’t believe me? Just look at history.

#78 Dave on 01.05.21 at 8:00 pm

Does real estate in Vancouver ever go down significantly?

#79 Dave on 01.05.21 at 8:01 pm

“All Canadians vaccinated in 2021”

365 days * 24 hrs a day * 60 mins an hr * 60 seconds a minute = 31,536,000 seconds a year

So we need to prick someone about every second to carry out these politician’s statements. Am I missing something here, this doesn’t seem realistic. Maybe it’s every 2 seconds as maybe only half the population gets it, but at the same time we’re not administering around the clock either. But either way, is it the case of “the math doesn’t lie, just politicians do”? Garth, get your suspender guys to dig into this and see if it is possible.

#80 Blessed_Canadian_Millenial on 01.05.21 at 8:03 pm

#61 SunShowers on 01.05.21 at 6:55 pm
#55 Michael in-north-york on 01.05.21 at 6:14 pm
“How do the immigrants come here with a few hundred dollars (at most) in the wallet, and earn enough for a good life and good retirement?”

Pensions, unions, and fair wages.

In short, your hackneyed rags to riches immigrant trope largely hasn’t been applicable for the last 40 years or so.

————–

Wow, such ignorance!

I just urge you to look at CEOs of Google and Microsoft. Both are Indian who came to the States to get education, worked hard, and now are running one of the largest companies in the world.

#81 Sara on 01.05.21 at 8:04 pm

#69 NonPlussed “But the main source of contention is why would the mail in ballots differ so much in their count ratios than in person voting? Is there really a psychological difference that makes one type of voter much more inclined to use mail in ballots than another? Could be. But it doesn’t seem intuitively obvious why that would be.”

It IS very obvious. Trump actively discouraged mail in voting. Biden did the opposite. Did you not do any investigating as to why Biden got so many mail in votes as compared to Trump or do you just listen to NEWSMAX?

#82 SunShowers on 01.05.21 at 8:05 pm

#64 truefacts on 01.05.21 at 7:06 pm
“But what about the other 8 countries – or all the others that have succeeded?”

Hong Kong – Tax Haven.
Singapore – Tax Haven.
New Zealand – Exploitation of Māori people.
Switzerland – Tax Haven.
Australia – Exploitation of Aboriginal Australians.
United States – Slavery, colonialism, exploitation of First Nations.
Mauritius – Tax Haven.
Georgia – Tax Haven.
Canada – Exploitation of First Nations.
Ireland – Tax Haven.

It’s as I said, capitalism creates winners and losers, and the losers are compelled (often by force) to surrender their wealth to the winners. For every nation that is a capitalist “winner”, there are 3 other nations that are capitalist “losers” who were ground into the dirt so the winner could climb their battered bodies to the top.

“Immigrants that come to North America pessinless end up doing well”

This hasn’t been true for decades. Post #61.

“what system would be better???”

Some form of market socialism. All firms must be operated by workers (think of a worker co-op), but those firms would be able to buy and sell their goods/services in a competitive market.

Notable exceptions would be for sectors where a market is unethical or unsafe (healthcare, utilities, etc).

#83 Blessed Canadian Millenial on 01.05.21 at 8:08 pm

#68 Sara on 01.05.21 at 7:32 pm
Also, Trump discouraged his followers from voting by mail whereas Biden did the opposite because (unlike Trump) he cares whether or not people get COVID.

———

Sara, I don’t know you but condemning someone without having complete information is the height of ignorance.

To Nonplused, I find your posts refreshing especially those that talk about taxes and money. Keep up the good work.

#84 Faron on 01.05.21 at 8:09 pm

#70 Quintilian on 01.05.21 at 7:37 pm

The faster the price acceleration, the sooner we get to the crash site.

Just don’t forget momentum. RE is more like a train, so after the wreck begins, the evolution to the final state takes a while. And just hope it’s not an oil train in which case the RE mess will immolate other components of the economy.

#85 crowdedelevatorfartz on 01.05.21 at 8:10 pm

@Faron
” The greed here can be thicker than the gaseous clouds in the elevators of a certain poster’s condo building.”
++++

Thou doth assume too much.
Yes I am greedy.
Yes I eject gaseous clouds in Elevators.
No I do not own a condo

#86 Sara on 01.05.21 at 8:22 pm

#84 Blessed Canadian Millenial on 01.05.21 at 8:08 pm
#68 Sara on 01.05.21 at 7:32 pm
Also, Trump discouraged his followers from voting by mail whereas Biden did the opposite because (unlike Trump) he cares whether or not people get COVID.

———

Sara, I don’t know you but condemning someone without having complete information is the height of ignorance.

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

I’m confused by your comment. Are you saying I condemned Nonplussed? Or Trump for not caring enough about COVID victims? And what “complete information” are you saying I am missing?

#87 morrey on 01.05.21 at 8:22 pm

Record Fraser Valley Home Sales. It’s a feeding frenzy. And in Vancouver Assessments on homes up at least 10%. And home building and renovations are everywhere you look. ??What pandemic?? Where is the $$ coming from even with record low mortgage rates i have never seen this kind exuberant real estate boom.

#88 Nonplused on 01.05.21 at 8:24 pm

#68 Sara on 01.05.21 at 7:32 pm
#62 Nonplussed

Also, Trump discouraged his followers from voting by mail whereas Biden did the opposite because (unlike Trump) he cares whether or not people get COVID.

—————————-

Biden has been in politics a long time, and he never saw a war he didn’t like. Millions and millions dead, including thousands of patriotic American soldiers. Trump ran on stopping the wars and although not completely successful he’s never started a war and he has drawn down the American war footprint.

Who cares about lives? Or is it only American lives that count?

What an ugly pivot. You are a far more appealing person when not blinded by this Trump man crush. – Garth

#89 Job#1 on 01.05.21 at 8:25 pm

sunshowers.

To precis your comments:
-Life isn’t fair
-Our current model is broken

It’s easy to tear anything down. I haven’t seen you suggest anything to replace what you call capitalism.
Would you care to cite any magical manifestation of the utopia you envision, either current or previous?

All I’ve heard from you is that the TFSA should be scrapped.

Think of it as a piggy bank. Everyone could have one, to fill or not, as their circumstances/inclinations allow. You want to break everyone else’s because you can’t save. Regardless of what curves life throws at you, complaint alone will get you nowhere.

You can’t create more wealth by dividing and redistributing what now exists. It has all been tried before. Read some history, ancient or modern, and learn that these issues, and the multitude of solutions attempted, have been with us since the the dawn of human civilization.

#90 SunShowers on 01.05.21 at 8:34 pm

#78 Blessed_Canadian_Millenial
“Umm… wealth lasts for no more than 3 generations. This is a proven fact.”

Does compound interest magically stop working after 150-200 years? Are financial assets purchased more than 3 generations ago confiscated by the landed gentry genie? Will a B&D portfolio managed by the honorable and fiduciary duty-bound Garth Turner have vanished when the account holder’s grandchild comes to ask Garth’s ghost what the balance is?

Come on, now.

“look at forbes 100 rich list and see how many names have changed since just 1990.”

1990 was 30 years ago. Somebody who was an oil baron 30 years ago is retired now and sold the company to somebody else, and now it’s that person who’s on the Forbes 100 list.

#81 Blessed_Canadian_Millenial
“I just urge you to look at CEOs of Google and Microsoft.”

Both of these people were from (relatively) affluent Indian families and came to the USA with degrees already. Hardly the people that Michael was talking about when he mentioned immigrants coming here with “a few hundred dollars (at most). ”

Sundar Pichai and Satya Nadella were not the kind of people who got off the boat at Ellis Island with nothing but the shirts on their backs and were able to make a comfortable blue-collar living.

#91 Sara on 01.05.21 at 8:36 pm

#82 Sara on 01.05.21 at 8:04 pm
#69 NonPlussed “But the main source of contention is why would the mail in ballots differ so much in their count ratios than in person voting? Is there really a psychological difference that makes one type of voter much more inclined to use mail in ballots than another? Could be. But it doesn’t seem intuitively obvious why that would be.”

It IS very obvious. Trump actively discouraged mail in voting. Biden did the opposite. Did you not do any investigating as to why Biden got so many mail in votes as compared to Trump or do you just listen to NEWSMAX?

========================
Regarding your reference to possible psychological differences, Biden voters as a whole are less into denialism. They recognize that COVID is a real threat, and thus are more likely to avoid long in-person lines to vote. Conversely, Trump supporters are more likely to believe COVID is no big deal, and have less concerns with large rallies (encouraged by their leader who minimizes the COVID threat) and in person voting (also encouraged by Trump).

#92 Nonplused on 01.05.21 at 8:37 pm

DELETED

#93 KaleyCat on 01.05.21 at 8:44 pm

#59 DON

If Trudeau gets a majority….there will be a capital gains tax on sales of housing. They will need the money – and that’s a lot of untaxed wealth. It’s just too tempting. Of course it won’t be part of the election campaign.

From the same playbook as Flaherty with Income trusts and Morneau with TFSA’s.

And what’s wrong with taxing capital gains on a house? Buyers seem to be treating them as an investment. Houses are no longer a home you actually intend to pay for, but rather an investment to carry the monthly payments on, until it appreciates nicely. Times have changed, our tax laws have to catch up.

#94 KlausSchwab on 01.05.21 at 8:50 pm

#49 Dolce Vita

The solution is freedom and liberty. The ability for people to live normal lives. Instead of being monitored, propagandized and threatened by the state “for your protection” from a respiratory virus that has a 99% survival rate.

Life is full of risk. We’re guaranteed nothing. I’d rather be free and risk death than live in a police state. Authoritarians always use a crisis, fear and their supposed protection from it to gain power and exert control over people.

Technocrats and globalists think they have all the answers and maybe even that they’re doing good. They’re not.

The musket allowed freedom to the common man for a while. Now power has shifted back into the hands of a small minority with vast wealth and resources. The control of information is just one facet that’s painfully obvious.

Marxist destabilization tactics are being used by shady forces throughout the West. Funded by the CCP who are waging political warfare and billionaires who want to create a border less world.

Don’t trust people who yearn to wield power over others.

#95 Justin S on 01.05.21 at 8:50 pm

Imagine moving from Toronto to Bancroft or Woodstock.

* shudder *

Best of luck to anyone in that boat.

Don’t be dissing Woodstock. Some famous people were born there. – Garth

#96 Nonplused on 01.05.21 at 8:53 pm

#84 Blessed Canadian Millenial on 01.05.21 at 8:08 pm

To Nonplused, I find your posts refreshing especially those that talk about taxes and money. Keep up the good work.

———————————–

Thanks.

If you are a Millennial, I will reiterate, don’t give up hope. Is was not easier for me (Gen X) and it certainly wasn’t easier for my boomer parents who were born of or in WWII. Those folks that fought WWII (I don’t know what they are called) had it harder than any of us.

The world has a weird way of working itself out, despite our plans.

#97 Faron on 01.05.21 at 8:59 pm

#80 Dave on 01.05.21 at 8:01 pm

If 900 nurses/docs are administering, then the required rate drops to one every 15 minutes. Triple that to 2700 to allow for three 8 hour shifts. If a given site has 4 people administering, that’s 675 sites spread across the country. Seems pretty doable to me. There’s a reason the military is involved here and in the US — these kind of logistics are their bread and butter.

#98 Faron on 01.05.21 at 9:01 pm

Sorry, 225 sites. The trick is in maintaining the vaccine supply.

#99 the Jaguar on 01.05.21 at 9:13 pm

“Many employers will decide to stop expanding their offices in expensive cities like San Francisco, Seattle, Boston and New York and instead expand their satellite offices in more affordable cities like Phoenix or Atlanta. This will encourage even more office workers to leave expensive cities.”- GT

Add in Portland and Chicago if you really want to round up the usual suspects.

Those are all ‘Blue locations’ (Democratic voter areas for you colour blind bloggies), where the BLM/Antifa Love Fest rolled on all summer, complete with burnin’, lootin’, shamin’, and a splash of Cancel Culture. They are also host to big homeless populations that aren’t getting smaller, same with drug and crime problems, and neighbourhood demographics based on Tribalism.
That isn’t a forecast, it’s a current reality. Enough said.

If Toronto, which fancies itself as a budding ‘New York’ enjoys a similar exodus , and big corporations take flight with their WFH magical elfs, baby boomers cash out of bloated real estate to move to the quiet countryside where people who share their values reside, then who is left to pay the taxes, fund public transit, and attend and pay for interesting events like the International Air Show on Labour Day Weekend, etc. ( The highlight was always the Lancaster Bomber flying over, of course).

What’s left of the expensive cities? Is the answer ” A riddle, wrapped in a mystery, inside an enigma”? Or is it as plain as the nose on your face? Will it be Deja Vu all over again, i.e Rome burns. Just the Brutes left to pick up the pieces.

Mercy. It must be time to break out the Schnapps.

#100 Stoph on 01.05.21 at 9:27 pm

#82 Sara on 01.05.21 at 8:04 pm
#69 NonPlussed “But the main source of contention is why would the mail in ballots differ so much in their count ratios than in person voting? Is there really a psychological difference that makes one type of voter much more inclined to use mail in ballots than another? Could be. But it doesn’t seem intuitively obvious why that would be.”

It IS very obvious. Trump actively discouraged mail in voting. Biden did the opposite. Did you not do any investigating as to why Biden got so many mail in votes as compared to Trump or do you just listen to NEWSMAX?

—————————————————————–

This actually leads to two imbalances in the numbers. First of all it decreases the Democrat in person votes. Secondly it increases the Democrat mail in votes.

So yes, in an election where there’s close to 50-50 support for either candidate, it seems reasonable to me that some swing states would have changed overnight from Republican to Democrat once the mail-in votes were tallied.

#101 Doug in London on 01.05.21 at 9:47 pm

I’m not sure what else to say, but I really like that picture, it’s quite funny. Just the comic relief we need these days. And now the punch line, I’m not even a dog person!

#102 Paul on 01.05.21 at 9:50 pm

#11 Tripp on 01.05.21 at 2:52 pm
In order for ~36,000,000 million Canadians to get vaccinated this year (360 days left) our healthcare system needs to have the capacity for an average of 100,000 people a day.

Apart from logistics issues related to the procurement, storage and distribution of the vaccines, our healthcare officials and politicians need to clarify if this volume of inoculation is feasible, and what they plan to do if it isn’t.
————————————————————————————————
Of its non feasible to do 100,000 a day! Why do you think there was no vaccinations over New Years ect. The powers that be would sooner take flak for that then admit that Canada doesn’t have enough vaccine to meet demand.

#103 Sara on 01.05.21 at 9:54 pm

Seriously? I mean with politicians, I am not surprised, but this guy should know better.

A member of Ontario’s COVID-19 Science Advisory Table, and CEO of St. Joseph’s Health System and Niagara Health System, has ended a vacation that started in mid-December and included a trip to the Dominican Republic.

https://www.cbc.ca/news/canada/hamilton/st-joes-niagara-health-ceo-vacation-covid-19-1.5862449

#104 DON on 01.05.21 at 9:56 pm

#94 KaleyCat on 01.05.21 at 8:44 pm
#59 DON

If Trudeau gets a majority….there will be a capital gains tax on sales of housing. They will need the money – and that’s a lot of untaxed wealth. It’s just too tempting. Of course it won’t be part of the election campaign.

****************
Yup.

You might even see an increase in CRA hiring with an enhanced mandate after the election…if a majority. Then the conversation will dial back to the definition and scope of the ‘great reset’. Fun days ahead.

#105 Faron on 01.05.21 at 10:09 pm

#97 the Jaguar on 01.05.21 at 9:13 pm

“stop expanding …San Francisco, Seattle, Boston and New York and … expand … in more affordable cities like Phoenix or Atlanta…”- GT

Add in Portland and Chicago if you really want to round up the usual suspects.

Those are all ‘Blue locations’ (Democratic voter areas for you colour blind bloggies),…

Are you sure you hadn’t gotten into the schnapps already Jaguar? I guess you are Canadian, so can’t be expected to know that every large city in the US is “blue”. Garth’s indicating a shift from one set of blue cities to a different set of cheaper blue cities. Blue all the same.

Giddyup that hobby horse though. It’s clear you wanted a reason to flog antifa/BLM while saying nothing about what went down in Kenosha or the simple fact that documented person-on-person violence is far more prevalent among the far righters than the far left to the extent that the republican run and republican founded department of homeland security has far-right extremists on their list of domestic terrorists. never forget the Oklahoma City bombing that killed hundreds of children and adults alike at the hands of a right wing nutter. Predominantly black church shootings, Charlottesville, Kenosha etc. There is far more blood on the hands of the far right than the far left.

…it’s a current reality…

Climbing aboard my hobby horse now…

Your commentary on the reality of the conditions in the US rings tinnier than Celine Dion on a helium bender from your perch north of the 49th or wherever in Canada you call home. It gets nauseating to continually listen to Canadians berate conditions, politics or events in the US in one breath and then talk up their vacation to XYZ tropical paradise (where the resident population scrapes by on next to nothing) in a dictatorship run nation or to Hawaii where the wealth disparity is massive or across the border to fetch some cheese and outlet mall crap all the while undermining the Canadian businesses and tax base that you should be supporting to make this country whole.

In the off chance you are one of those folks, if you ever find yourself on the island of Oahu and If you want a taste of the poverty in the US that drives the blueness of the demograph, try this: take a spin out the west side where the Hawaiians live; out toward the Makaha Valley. I have a hunch that won’t be the paradise that you are looking for. I’d be surprised if you were brave enough to get out of your car. Surf’s great there tho and real hawaiians are hell of down to earth.

These intense contrasts in the US are the forces that drove what transpired this summer and continues to transpire in Portland and soon again in DC. BLM has real grievances and every right to the peaceful protests that they conducted. Antifa’s violence is in direct proportion, albeit fractional, to Patriot Prayer/Proud Boys and whatever other group of skull crackers show up to intimidate with their guns. This race/class warfare is growing rapidly. Study it and do everything in your power to keep it at bay here. Else, you haven’t the slightest clue.

#106 Old and Venerable Ron on 01.05.21 at 10:11 pm

If you don’t need to see your employee, why not treat large chunks of your firm like a “Manilla Call Centre”.

The friendly folks there are happy to earn about $300 USD a month. ($390 Canadian) And there is no employer CPP, E.I. Health Insurance, or Dental coverage . In short a Capitalist Shangri-La

And you thought Covid was scary.

#107 Michael in-north-york on 01.05.21 at 10:16 pm

SunShowers: I am one of those immigrants. Came 22 years ago, not 40+ years ago. Worked for wages since that, never in a union job.

No, I don’t own an Amazon, but I’ve got decent wages and feel comfortable. No interest in social experiments.

“All firms must be operated by workers (think of a worker co-op), but those firms would be able to buy and sell their goods/services in a competitive market.”

Yeah, that has been tried in places, for example in the former Yugoslavia. Can work well in very small companies, where every worker can see the whole process. In bigger companies, the management turns into de-facto owners, who operate the business for their own goals, but retain the ability to “socialize” the losses should losses occur. The model has been abandoned since.

#108 mick McClean on 01.05.21 at 10:21 pm

“How do the immigrants come here with a few hundred dollars (at most) in the wallet, and earn enough for a good life and good retirement?” Basically immigrants sacrifice and they work their butts off, working 2 jobs and then part time on the weekend, somehow even managing to send some money home. Mostly living with an extended family and helping each other with meals, cleaning and looking after children. Any extra time is spent studying and upgrading their skills. Eventually they move out to their own digs, get a car and maybe some weekenders to supplement their income, eventually sponsoring their relatives and the circle continues. I’ve seen this within the Filipino community time and time again. The summer of 2020 opened an awful lot of Torontonians eyes to what the rest of Ontario offers in term of liveability and it doesn’t surprise me one little bit that these smaller communities look so attractive, although Bancroft seems a little far out. Seems to me those employees in the downtown core going into the office will look very attractive to management types when they mosey into the office and will be the “go to” people to get things done.

#109 crowdedelevatorfartz on 01.05.21 at 10:21 pm

@#97 Nonplused
“If you are a Millennial, I will reiterate, don’t give up hope. Is was not easier for me (Gen X) and it certainly wasn’t easier for my boomer parents who were born of or in WWII. Those folks that fought WWII (I don’t know what they are called) had it harder than any of us.”
+++++

You missed a generation.
The “Golden generation”
They were born in the late 1930’s.
They were too young to remember the Depression, they were too young to be conscripted to fight in WWII, they were of working age to enjoy the post WWII building BOOM that lasted from 1946 until at least 1970.
All they needed was “two feet and a heart beat” to have a job for their working life.
The Golden generation.
The ones that suffered through the Great Depression and then volunteered to fight in WWII …. were called …….The Tough As Nails Generation.

#110 Stoph on 01.05.21 at 10:22 pm

#82 Sara on 01.05.21 at 8:04 pm

It IS very obvious. Trump actively discouraged mail in voting. Biden did the opposite. Did you not do any investigating as to why Biden got so many mail in votes as compared to Trump or do you just listen to NEWSMAX?

—————————————————————–

Didn’t Trump actually tell voters to vote twice, once in person and once via mail, you know, just to make sure that their vote counts?

https://globalnews.ca/news/7313560/trump-election-vote-twice/

#111 Michael in-north-york on 01.05.21 at 10:25 pm

#4 SoggyShorts: “Under communism, no one gets to be a CEO. Ever. regardless of effort, time, or sacrifice.”

Under communism? Oh yes, they did. They called themselves “managers” and “directors” of the state-owned enterprises, not CEOs. They had same perks as CEOs, and had their lives much better than the commoners. Inequality was still there.

And better yet, they could never go bankrupt. Your company makes stuff that noone wants to buy? Or, makes stuff that sells for less than the cost of raw materials used in production? No problem at all, the government will keep bailing you out because it can’t allow a state-owned enterprise to fail.

#112 Nonplused on 01.05.21 at 10:27 pm

#93 Nonplused on 01.05.21 at 8:37 pm
DELETED

Why did I get deleted there?

To be fair I can’t recall what the comment was.

#113 DON on 01.05.21 at 10:29 pm

Having followed most if not all pendemic elections the one common theme, mail in ballots supported the politicians that treated the virus as a legitimate threat, as seen in the eyes of the voting majority.

All eyes were on the first elections. BC had a record amount of mail in ballots…that were counted two weeks later. The results got worse for the Trump like opposition party who didn’t get the memo that a majority of Canadians did not like Trump. Also helps that the oppositon party is mixed up in a swamp of corruption.

Trump’s election advisors would have researched the mail in votes from other places. Trump started his bombastic bombardment on mail in votes prior to the US election. He has tells…he sets the stage early. Then he continues to razzle dazzle you with mind numbing bull shit. He is relentless.

Will Trump call an emergemcy, invoke military rule and use the miltary court to overturn the election on concerns of fraud? Wouldn’t surprise anyone. With Trump, it seems that if there is a way he will use it to win…what does he have to lose? His reputation?

I am not a fan of Biden either.

Americans were ripped off!

#114 Nonplused on 01.05.21 at 10:29 pm

“What an ugly pivot. You are a far more appealing person when not blinded by this Trump man crush. – Garth”

Me and 75 million other voters. Anyway, we all know at this point how it is going to go tomorrow. President Biden it is for as long as he lasts.

#115 Michael in-north-york on 01.05.21 at 10:37 pm

#94 KaleyCat: “And what’s wrong with taxing capital gains on a house?”


That would have some unintended consequences. For example, you get a job in another city, and discover that you can’t sell your old house and buy a similar-value house in your new city. Your old house is sitting on a large on-paper gain, once you sell and pay the tax, your purchase power is eroded.

I don’t mind a capital gain tax on houses sold soon after the purchase, but would phase it out for houses held for 5+ years.

#116 DON on 01.05.21 at 10:50 pm

#99 Faron on 01.05.21 at 9:01 pm
Sorry, 225 sites. The trick is in maintaining the vaccine supply

**********
And the supply of recipients to fill those time slots.

#117 millmech on 01.05.21 at 10:50 pm

#58
Here in Bc we have 24X7injection sites just for drugs though!

#118 Apocalypse NOW on 01.05.21 at 11:01 pm

There is a 90% chance of civil war erupting in the USA by this time tomorrow. Expect thousands to be killed, followed by nuclear escalations in the days and weeks ahead. This will be horrific.

PREPARE

#119 Sail Away on 01.05.21 at 11:01 pm

#47 sailedaway on 01.05.21 at 5:27 pm

….I’m not Sail away, I’m a nice guy with more than $$$ on his mind

————–

Oh, I must’ve mistakenly stumbled here from the financial blog. Sorry. Don’t know how that happened. I’ll see myself out.

#120 SWL on 01.05.21 at 11:08 pm

Arguing with SunShowers is like banging your head against a wall. I’ve been down this road before and thought it would be fair for them to advise on what they did for a living seeing as how they seem to know so much about business. Crickets.

Matter of fact, anyone rooting for SunShowers care to enlighten us? Maybe tell us about how you raised capital to start a business, shouldered all the risk, made payroll only to be then be told by government to be sure and pay the 15 year old kid washing dishes (who still lives at home mind you) a ‘living wage’. Minimum wage is called that for a reason. It’s to learn an entry level position. If you are deep into your working life and still making minimum wage time to take a look in the mirror

Anyways, we started a pizza shop in a small town here on the wet coast 4 years ago and business is good. All my employees make more than me per hour. Yes even the kids washing dishes, but we are happy and well fed. I wish there was more meat on the bone left for me, but all entrepreneurs are not greedy capitalist pigs like some here believe

Like TurnerNation has said flip the narrative and things make more sense. Its no longer a minimum wage it’s a maximum wage. Everyone does have a right to be upset, but look no further than your elected government. NOT business owners

As for my other job, as I have to have one of those being self employed, we have been given notice that steel prices are set to rise 10-20% and all welding supplies and consumables are up 7% across the board effective immediately

This is what happens when you elect a trust fund baby who prints 400 billion in 1 year and appoints a finance minister who doesn’t understand the difference between debt and deficit

Because I have a sense of humour I like to remind people that things are not becoming more expensive, your money is just worth less (space or no space). Does that make you feel better?

I do miss joining in the banter here, but honestly don’t have much time for it these days. I look forward to your stories though, Sunshowers, Faron and Sara. So intrigued about your business experience

#121 Pete on 01.05.21 at 11:16 pm

Re. #15 SOMETHINGS UP

You’re the only sane person on this blog.

Disageee with predictions of real estate taking off. 2021 is going to be a bust, and a year of the sinking of the US dollar…taking Canada with it.

#122 Keith on 01.05.21 at 11:37 pm

One of my favorite books is called “Waiting for Snow in Havana, the story of a Cuban who was 11 years old when Castro took over. His mother took him and his brother to America, under a negotiated deal and his father stayed in Cuba to await the counter revolution, which sadly never came.

The book is a sobering recollection of a life of privilege as the son of a judge, living in the best neighborhood with a luxury lifestyle including servants until the revolution. When the revolution came, Castro and his elite cronies moved right into the best neighborhood, lock stock and barrel. The author’s father stayed in the family house, surviving for the rest of his life in part on silver coins that he had hidden in the walls of his house.

The father stayed on, within a month of the revolutionary government coming to power people were lining up for food. The author, his older brother and mother moved to Florida, they never saw their father again. The author’s mother took on a job as a janitor, the author went to school and became a professor of religious studies.

The book shows how when totalitarian regimes take over how quickly and brutally life changes. It brings to mind the Churchill quotes about democracy and capitalism. Democracy isn’t the best form of government, it’s just that all the others are even worse.

“The inherent vice of capitalism is inequality.” Governments have struggled to curb the worst excesses of capitalism while keeping the benefit of an enterprise economy – (calling it free enterprise is too inaccurate for me). The union movement was a balancing factor, now in serious decline due to an oversupply of labor and an increasing inability to remain relevant.

The economy and society are changing over time, in my lifetime there have been enormous changes in economic growth, interest rates and employment prospects. The economy and society are far less secure and stable than they were before the seventies. The best thing is to see the world for what it is, including all the sham and delusion and make your own way the best you can.

#123 Diamond Dog on 01.06.21 at 12:18 am

World class did someone say? :D
But as for real estate foretelling/boding

https://www.youtube.com/watch?v=rV1DRLJpylY

A song of you
Comes as sweet and clear
Just like the moon light through the pines

Other arms reach out to me
Other eyes smile tenderly
Still in peaceful dreams I see
The road leads back to you

Georgia, Georgia
No peace I find
Just an old sweet song
Keeps Georgia on my mind

Yes, just an old sweet song
Keeps Georgia on my mind

#124 other guy in Vancouver on 01.06.21 at 12:20 am

“All Canadians vaccinated in 2021” …

If Elections Canada can spend ~5 minutes with each member of the adult population in A SINGLE DAY, securely move and store materials, run the logistics of thousands of temporary venues, why can’t we arrange to get every available dose into an arm every day, and get this job done in a couple of weeks? It’s a total failure if the vaccine manufacture is NOT the bottleneck. The boy had months to plan this.

#125 Dr V on 01.06.21 at 12:33 am

75 with wings – a business owner may forgo personal income by re-investing the money in the business. She may also have to mortgage her house if she cannot secure financing for expansion. If the business goes in the crapper, it can all be lost, including any outside savings because there is usually a “personal guarantee” to pay the debt.

Fortunately I got through that tough spot and can self-finance expansion if I wanted to.

Others were not so lucky.

#126 Durnovol on 01.06.21 at 12:45 am

Hey Garth, what multiple of your income should you purchase a house? 5 times or so?

#127 SeeB on 01.06.21 at 1:07 am

#4 SoggyShorts on 01.05.21 at 2:28 pm
#214 SunShowers on 01.05.21 at 1:11 pm
#205 SoggyShorts on 01.05.21 at 12:24 pm
“I know working long days or 6 days a week sucks, but minimum wage is a temporary starter wage at a job, not a career”

There is no such thing as an “entry level job” or “starter wage”.

Are you familiar with the shape of a pyramid?
Is there room for all the space (people) at the base of the pyramid at the top? No, there is not.

*******************
That’s fine, because people retire or die.

You for real? You do realize we all age and die at roughly the same rate, right? Also, you hurt your own rugged risk-taker argument by insinuating that one just needs to wait around for their turn at emperor.

Also, consider that being fired just means that you’ve lost tomorrow’s paycheck.

Tell that to someone who’s plant just closed. Or the millions of others who didn’t get the lucky break of being born into opportunity.

If you’ve been here for any length of time, you’d of read Garth pointing out constantly how Missing tomorrow’s paycheck for

People with the guts and ambition to take a shot are rare.

Yes. You are a special person in a sea of lazies.

“That’s why they call it the American Dream, because you have to be asleep to believe it.”

#128 Ponzius Pilatus on 01.06.21 at 1:33 am

60 crowdedelevatorfartz on 01.05.21 at 6:53 pm
My Goodness.
5th wind and rain storm in 7 days!
Apocalypse2021 is upon us!
Pouring rain and so windy the Ferries are shut down for today.
Looks like Floppie is stranded for another day.
peak winds at 6pm Van time…..
Gotta get this out before the power is kaput !( as Ponzie would say).
—————————
Coincidentally, went out for a two hour walk in the rain today.
Only a walk in the snow clears your mind better than a good old fashioned drenching.
Proper gear is paramount, though.
Streets empty, because only The homeless and/0r Philosophers dare to venture out.
Can’t understand why people who hate the rain move to Vancouver.
Oh, forgot, liquid sunshine.

#129 Ponzius Pilatus on 01.06.21 at 1:44 am

#66 Sara on 01.05.21 at 7:25 pm
#51 Faron on 01.05.21 at 6:03 pm
#37 SunShowers on 01.05.21 at 5:00 pm

I know I’m not alone in rooting for you SunShowers as you fight the good fight. Keep at ‘er. The greed here can be thicker than the gaseous clouds in the elevators of a certain poster’s condo building.
———————

Though I’ve been mostly silent, count me in amongst the rooters for SunShowers.
————————
I wish we had more SunShowers now, literally and figuratively.

#130 Ponzius Pilatus on 01.06.21 at 1:51 am

#67 Nonplussed
Your best post, by far.
Leave the Trump stuff behind.
You’re too smart for that shit.

#131 SoggyShorts on 01.06.21 at 2:17 am

#66 Sara on 01.05.21 at 7:25 pm
#51 Faron on 01.05.21 at 6:03 pm
#37 SunShowers on 01.05.21 at 5:00 pm

I know I’m not alone in rooting for you SunShowers as you fight the good fight. Keep at ‘er. The greed here can be thicker than the gaseous clouds in the elevators of a certain poster’s condo building.
———————

Though I’ve been mostly silent, count me in amongst the rooters for SunShowers.
***************************
Shall we take a guess at how many employees the 3 of you have? How many of you actually started a company from scratch?

#132 Ponzius Pilatus on 01.06.21 at 4:12 am

It’s 1:00 in Vancouver and it looks like both Senate seats will flip.
There were some technical issues in the mostly democrat county Dekalb, expect the Trumplicans to use this as an excuse to call the election fraudulent.

#133 BillyBob on 01.06.21 at 6:10 am

#7 Faron on 01.05.21 at 2:37 pm

BillyBob, it’s a real accomplishment that you managed to paternalistically indicate I should take time for introspection while simultaneously congratulating Coug for lampooning my introspection (which I can only admit was pretty hilarious and spot on). Bit of a trap, no?

And why the hate-on for Victoria? You’re, like, 3 for 4 in griping about a town many thousands of nautical miles from you with a broad enough mix of people that antifa sympathisers coexist with the Q-anon crowd with the BC gov with the Navy with the work-a-day crowd with the RE developers with the loggers with the fisherman with the Uni students etc i.e. it’s a town. Get over it. Sounds like your wings got a little singed here at some point in the past. Congrats on the vax.

——————–

I am flattered that you think of me as a father figure. How nice! I would have had to conceived you at a scandalously and likely illegally young age, but why quibble? There are probably younger parents in Langford.

Small point of order: endless posts railing and pontificating aren’t “introspection”. They’re just setting you up for further caricature, which is something that yourself and a few others like MF and Sara never quite seem to grasp. CEF and Saily win because they don’t take themselves too seriously.

You mistake my disdain for a specific mindset with a dislike for a city. I know Victoria well, unless you’ve lived there for more than 30-40 years I’ve actually spent more time in the place than you. I have many family and friends there. I love visiting. It’s beautiful albeit miserably wet, but don’t kid yourself about the “diversity”.

Yes, all those elements you list exist there, but the vast majority of the economy is latched firmly to some sort of government teat whether civil service, military, or education. Most private sector jobs are there to service them (ie HeliJet). And it has the entitled mentality on steroids to match. It’s like the toddler love child of Portland and Ottawa. Militantly green and bylaw-abiding and faux hippie baristas. Even the hipsters are dollar store versions, earnestly convinced of their hipness now that they’ve escaped whatever small town they came from and bought the Che Guevara t-shirt. Ugh. No number of (tent city) parks can compensate for the smug insularity.

So when some Uvic guy starts up with the bloviating it’s hard not to be amused at just how many stereotype boxes are ticked at once. Not meaning this to be harsh, just as explanation. Sorry/not sorry, I guess! :-)

But thanks for the vax wishes, hope it will be available more quickly in Canada as well soon.

I see the Dems have taken one seat, and Team Canada lost to the Americans. I have to admit I was cheering for Czech Republic so I am not displeased. Fits with the theme of having a little humility handed out.

#134 Wrk.dover on 01.06.21 at 6:54 am

#82 Sara on 01.05.21 at 8:04 pm
#69 NonPlussed “But the main source of contention is why would the mail in ballots differ so much in their count ratios than in person voting? Is there really a psychological difference that makes one type of voter much more inclined to use mail in ballots than another? Could be. But it doesn’t seem intuitively obvious why that would be.”

It IS very obvious. Trump actively discouraged mail in voting. Biden did the opposite. Did you not do any investigating as to why Biden got so many mail in votes as compared to Trump or do you just listen to NEWSMAX?

———————————–

I used to think nonplussed was a deep thinker.

With this comment, I now wonder if he can think at all.

Or is he thinking like a republican, so it doesn’t show as thought, but more like obstinate bait to frustrate real thinkers with real knowledge?

Democrat mail in voters are obviously social distancing, republicans see no need of that in their blind loyalty to not science.

Black votes matter!

#135 Another Deckchair on 01.06.21 at 8:06 am

To Sunshowers, and others who think they are hard done by:

Find and read the book “the Millionaire next door”.

Search on-line for a PDF copy.

A bit old, but enlightening. Based on research, not navel-gazing.

SunShowers, I think it may open your eyes.

#136 Bezengy on 01.06.21 at 8:10 am

I just celebrated the last weeks of Trump’s term in office by watching the American Dream series again. The thing that struck me is how alike he and T2 are.

Both have failed to be better than the original.
Both involved in multiple unethical or unlawful episodes, and feel they are above the law.
Both spend gobs of other people’s money like it’s their own.
Both can’t answer a question, no matter how simple it is.
Both have thrown multiple women under the bus.
Both suffer from extreme naivety, either with the budget balancing itself, Kim Jong-un, etc.
Both are in constant need of attention.
Both constantly blame the opposition party for their failures.
Both cling to some stupid saying like “MAGA”, or “build back better”
Both have strong values, but they don’t apply them to their own behavior.
Both have their own base of giddy voters that will vote for them no matter what.
Yes Trump speaks better, was better looking, attended military school, and actually tried to run a real business, but still these guys have a lot in common, no question about it.

#137 crowdedelevatorfartz on 01.06.21 at 8:17 am

@#127 Durnoval
“Hey Garth, what multiple of your income should you purchase a house? 5 times or so?”
+++

In Vancouver we wait until its 15 times income.

#138 crowdedelevatorfartz on 01.06.21 at 8:30 am

@#104 Sara
“Seriously? I mean with politicians, I am not surprised, but this guy should know better.”

++++

The uber rich dont care about rules that the plebes are expected to follow….shocking I know.

It makes the fall that much more spectacular.
Keep an eye on Trump

#139 Sail Away on 01.06.21 at 9:04 am

I’m in the process of acquiring a small firm that does critical niche work and need somebody to learn the ropes from the current owner during his earn-out, then head up the department of 5. Existing employees keep their jobs- one of them may take the new position if she gets credentialed. Salary range for current staff $70-110k.

New position starting salary $130k, 5% RRSP match, vested stock options, performance bonus, 5 weeks vacation, medical/dental/eye coverage.

Medium cost of living area close enough to Van to compete, far enough to beat the local firms’ fees. Average house price $400-500k.

Projecting to pay the purchase price and start turning a profit after four years.

Perhaps some of the erudite workers rightists here can tell me how this scenario profits at the expense of the employees?

#140 millmech on 01.06.21 at 9:28 am

The government has the legal ability to use these funds as per 2008 financial “crisis” as that is when they allocated 54 billion “surplus” to from EI to pay down the debt.
So your EI payments are now technically just a tax to be put to use in general revenue as the government sees fit.

#141 crowdedelevatorfartz on 01.06.21 at 9:28 am

@#137 Berzengy
“The thing that struck me is how alike he and T2 are.”

+++

Good list.

Unfortunately I think that describes 99% of political “leaders” these days not just Trudeau and Trump.

#142 Dr V on 01.06.21 at 9:42 am

136 deckchair – possibly the most enlightening personal finance book ever.

#143 rt0022 on 01.06.21 at 9:51 am

@#104 Sara
same guy involved in the ORNGE medical air transport scandal

https://www.thestar.com/news/canada/2013/02/28/star_investigation_mt_sinais_top_doctor_quits_amid_ornge_scandal.html

#144 SunShowers on 01.06.21 at 9:54 am

#112 Michael in-north-york
You’re complaining about entities being “too big to fail?” We have that now under capitalism (see 2008). So what exactly are you afraid of?

#121 SWL
“Minimum wage is called that for a reason. It’s to learn an entry level position.”

Patently incorrect.

“In my Inaugural I laid down the simple proposition that nobody is going to starve in this country. It seems to me to be equally plain that no business which depends for existence on paying less than living wages to its workers has any right to continue in this country. By “business” I mean the whole of commerce as well as the whole of industry; by workers I mean all workers, the white collar class as well as the men in overalls; and by living wages I mean more than a bare subsistence level-I mean the wages of decent living.” -FDR, instituting the federal minimum wage. June 16th 1933

Minimum wage is called that because it’s ostensibly the minimum someone can receive and still lead a decent life. A LIVING wage.

And I can guarantee that I’ve created more jobs than your pizza joint, because as anyone can tell you, business owners don’t create jobs. Economies are driven by consumer DEMAND, and in order for consumers to demand goods, they must have money. If you were out of the picture, there’s nothing stopping your head pizza chef from buying his own ingredients at the supermarket, baking the pizzas in his oven at home, and selling them to customers. Supply side economics has been known to be voodoo for years, and that’s all this irrational gyration surrounding capitalists as “job creators” is. Supply side economics.

So, by spending my hard-earned money at countless local establishments over the years, I can say with confidence that I’ve created hundreds of jobs. How many people work at your pizza shop?

#123 Keith
So it’s a book about the Cuban Revolution, and I’m supposed to empathize with the family who literally owned slaves? lol ok.

#132 SoggyShorts
See above.

#136 Another Deckchair
I’ll take survivorship bias for 100 Alex.
Oh…wait. Dang.
There is no way Ken will ever fill Alex’s shoes.

Or just read this.
https://thefrugalgene.com/millionaire-next-door-myth/

#145 Love_The_Cottage on 01.06.21 at 10:08 am

#125 other guy in Vancouver on 01.06.21 at 12:20 am
“All Canadians vaccinated in 2021” …

The boy had months to plan this.
_
There is a long list of things to complain about with T2. Health care is a provincial responsibility.

#146 crowdedelevatorfartz on 01.06.21 at 10:09 am

2 weeks today and the Orange Orangutan has the Presidential plane, and all the accoutrements of office stripped from him.
A ranting and raging man/child finally reaches the point where all his bullying, bs and bravado wont help him.
A classless, loser who’s lickspittles will fade away as he throws them all under the bus, one by one.

Any bets on Melania filing for divorce this year and writing a “tell all” book?

#147 Warren-the-lagging_indicator on 01.06.21 at 10:26 am

The alternate slates of electors was not forwarded to Congress because they were not certified by the states thereby paving the way for Pence throwing his hands up in the air, shrugging his shoulders, and approving the Biden slates. Bond yields are likely to increase from here for a while.

Pence does not have the authority to approve or disapprove anything. Another Trump fiction. – Garth

#148 SunShowers on 01.06.21 at 10:44 am

#140 Sail Away
“Perhaps some of the erudite workers rightists here can tell me how this scenario profits at the expense of the employees?”

Well, it’s a tough question to answer without knowing more information. On its face, a starting salary of $130k per year is pretty great, but if that worker is generating $350k per year of value, suddenly it doesn’t look so generous, does it?

The $350k figure could be hyperbole (or maybe not?), but you obviously have SOME idea of what kind of value would be generated by their labor, and have decided to pay out a salary less than that amount (or else you wouldn’t be hiring, would you?).

Does the prospective employee know these numbers? How can they be expected to bargain effectively when you have all the numbers and they (might) have some rough data they could scrape up on the internet? This inequality of information exacerbates a preexisting inequality of bargaining power (they need you to put food on the table, you don’t need them to do the same), which leads to a market failure.

This can be remedied through worker co-ops (and a more robust welfare state). Workers have access to the numbers they need to negotiate a fair salary, and salaries are decided transparently and democratically among workers, not by one single person holding all the cards with a vested interest in keeping pay low.

#149 TurnerNation on 01.06.21 at 11:06 am

Months ago I heard that the world was conquered in this WW3 by way of only two terms: Asymtomatic, and Mandatory.
Here come the MANDATORY economic shutdown in Quebec first. To force UBI. See: crazy leaked (now debunked) plan from October???
I’d noted that the regions with the strongest most homogenous and testo driven cultures, perhaps even the most observant ones, got punished the hardest: Italy, Australia, now Quebec.
Distinct…to be crushed.

I opined that the spate of politicians all being busted for international travel was the set-up. Indeed it was, the drumbeat is for banning international travel now, per the Globe story. This all is a set up, manufactured consent for this prison planet. Mandatory bans.
All because you are healthy/asymptomatic.

#150 crowdedelevatorfartz on 01.06.21 at 11:06 am

The Resolute Desk in the Oval Office must have some new scratches in it this am.
With the Orange Orangutan beating his simian paws on it.
Hopefully a little buffing will take the scratches out before “46” aka President Biden moves in…

#151 Warren-the lagging_indicator on 01.06.21 at 11:13 am

You mean Pence can’t throw out the electors from the states he deemed fraudulant? Anyways, Trunq has one last chance to act before the state electors are certified and the house confirms them for Joe.

Pence has no power. Trump has no option other than civil unrest or resign and hope Pence pardons him. How sad. – Garth

#152 Ponzius Pilatus on 01.06.21 at 11:19 am

148 Warren-the-lagging_indicator on 01.06.21 at 10:26 am
The alternate slates of electors was not forwarded to Congress because they were not certified by the states thereby paving the way for Pence throwing his hands up in the air, shrugging his shoulders, and approving the Biden slates.
—————-
Throwing up his hands would actually prove that Pence is alive.
What a pathetic sidekick.

#153 Keith on 01.06.21 at 11:24 am

#145 Sunshowers

Don’t throw stones if you haven’t read the book – the family did not own slaves, it employed maids. One quit, one was fired.

“A few months after that New Year’s Day, Inocencia quit working for us. She was replaced by a thin, wiry woman named Caridad, or Charity, who was angry and a thief. My parents would eventually fire her for stealing.”

#154 IHCTD9 on 01.06.21 at 11:29 am

#149 SunShowers on 01.06.21 at 10:44 am

This can be remedied through worker co-ops (and a more robust welfare state). Workers have access to the numbers they need to negotiate a fair salary, and salaries are decided transparently and democratically among workers, not by one single person holding all the cards with a vested interest in keeping pay low.
___

So what happens when the next person being interviewed for the job looks over all the supplied numbers and decides they’d do the job for less? …and the next interviewee does the same – and the next, and so on?

You’d pretty quickly get the system we already have.

I’m in possibly a rare position to know exactly how much $$ I bring in profit wise where I work, and it is many many times what I get paid. Occasionally, I bring in a project that pays my entire years salary all on its own.

If I went to the boss and demanded a 50% cut of the profits, I’d be kicking pebbles. Why? Because he can get someone else fairly well assured to make similar profits for nowhere near that cost, and I can’t make near my current salary without the boss’ building/people/machines behind me. A lot of my success is because of what he put together.

It’s a bit of a symbiotic arrangement. The only way you get to do what you state above is if you start your own business.

#155 crowdedelevatorfartz on 01.06.21 at 11:38 am

@#52 Warren the lagging intellect

Seriously?
My God.
You actually believe Trumps’ bs?
Pence has already stated publicly he will NOT challenge the electoral results.
He does NOT have the power to overturn a US election and he knows it.
Its more Trump spewed baseless fantasy.

I see the Orange Orangutan is planning another event on Inauguration Day.
Trying to steal Biden’s thunder.
Hopefully the media will ignore him.
Zero class.
He is The Biggest Loser.

#156 Sail Away on 01.06.21 at 11:56 am

#149 SunShowers on 01.06.21 at 10:44 am
#140 Sail Away

“Perhaps some of the erudite workers rightists here can tell me how this scenario profits at the expense of the employees?”

———–

Well, it’s a tough question to answer without knowing more information. On its face, a starting salary of $130k per year is pretty great, but if that worker is generating $350k per year of value, suddenly it doesn’t look so generous, does it?

———–

Generous? That’s not a term in my lexicon. Let’s go with fair.

Assume this scenario, ignoring taxes:

$1M in business for their department covers all costs plus 15% profit ($150k), then 50% of this is given as bonus, so $75k net annual profit to company.

Acquisition cost: $400k (liability to parent company)
Break-even timeline: 5 years

Analysis?

#157 IHCTD9 on 01.06.21 at 12:00 pm

#145 SunShowers on 01.06.21 at 9:54 am

Patently incorrect.

“In my Inaugural I laid down the simple proposition that nobody is going to starve in this country. It seems to me to be equally plain that no business which depends for existence on paying less than living wages to its workers has any right to continue in this country. By “business” I mean the whole of commerce as well as the whole of industry; by workers I mean all workers, the white collar class as well as the men in overalls; and by living wages I mean more than a bare subsistence level-I mean the wages of decent living.” -FDR, instituting the federal minimum wage. June 16th 1933

Minimum wage is called that because it’s ostensibly the minimum someone can receive and still lead a decent life. A LIVING wage.
___

In other words, minimum wages are required because competition for jobs can and will see wages plummet to very low levels. No one in this country is being forced to work for low wages, but many will accept them depending on their need at the time. Low wages tend to prevail where the work can be done by any able bodied Man or Woman – ie, where the greatest supply of labour is available. Anyone can pour a coffee.

Businesses do create jobs. If I developed a device that I could sell for 100.00 and it could heat and power your house for 20 years – do you think demand would spring up for it? Indeed it would, and only because the product was created. This huge demand would then shoot through the supply chain and labour market to satisfy said demand for said product. If the specialized knowledge required to create the product is in short supply, wage gains appear. Same if general labour is in short supply.

Demand is provoked from the consumer base – make anything for less cost, and you receive it (China). Innovate new technologies that cut costs, work better, make life easier and/or more enjoyable – and you receive it. If you don’t build the products, the demand stays in the well till someone else does.

#158 SoggyShorts on 01.06.21 at 12:13 pm

#145 SunShowers on 01.06.21 at 9:54 am
#112 Michael in-north-york

And I can guarantee that I’ve created more jobs than your pizza joint, because as anyone can tell you, business owners don’t create jobs. Economies are driven by consumer DEMAND, and in order for consumers to demand goods, they must have money. If you were out of the picture, there’s nothing stopping your head pizza chef from buying his own ingredients at the supermarket, baking the pizzas in his oven at home, and selling them to customers.

*********************
Ok, so if business owners add no value and are just exploiting workers, but there’s nothing stopping those workers from going into business for themselves… why aren’t they?
“I spend money, therefore I’m the real job creator” is a cute way of saying “No, I haven’t ever taken on the risk, stress or responsibilities of opening a company and have no idea what it takes”

#159 Faron on 01.06.21 at 12:18 pm

#134 BillyBob on 01.06.21 at 6:10 am

You can be half my age and still be paternalistic.

All I have for you is this: Frankly, at the most generous, you have the same problem I have — blind disdain for a mindset. The difference is a) I’ve been willing to rail quite firmly, and to the triggered like yourself, with fact that comes off as anger due to my use of bombast and/or cutting language and in doing so stray to personal attack when someone “needs” to be cudgeled so b) I take a stance on a variety of issues even if it happens to align with a stereotype of yours (note, stereotypes are ALWAYS garbage). If that exposes a flank to some strangers on the internet, who gives a crap? Really? Thinking about it now, it really boggles my mind that in a blind and faceless forum of ideas anyone can get their hackles up, myself included. But especially you tough right wingers, I mean, I’m a Vic hipster so microaggressions and being harmed by them is my bread and butter. You on the other hand…

And if you weren’t triggered (I’m using that word because I know you hate it. You’ll be surprised to learn I hate it too) you would see that I am perfectly capable of humor and light heartedness.

Have a good evening. Looks like I’ll be needing a mental health day today…

#160 Gregory Santos on 01.06.21 at 12:28 pm

Garth, 30 year US treasuries are 1.82% today. This will be double by mid to late 2023, 3.64% and triple by 5.46% by end of 2026 the latest. Watch this prediction and see it will be true by this timeline. All interest rates will be much higher 5% to 6%+ mortgage rates coming down the pike.

I can’t know 100% for sure but I would not be surprised by 2028 to 2029 7.28%+ 30 year treasury yields because of all the inflation, currency debasement, currency devaluation, money printing, super QE etc.

#161 Felix on 01.06.21 at 12:29 pm

El Predicto? Zoltar? Hmm.

Dogs can reliably predict which butt they will sniff next.

(Answer=any)

Beyond that, not so much….

#162 Faron on 01.06.21 at 12:30 pm

#151 crowdedelevatorfartz on 01.06.21 at 11:06 am

The Resolute Desk in the Oval Office must have some new scratches in it this am.
With the Orange Orangutan beating his simian paws on it.
Hopefully a little buffing will take the scratches out before “46” aka President Biden moves in…

High Five. Beyond stoked to see a rebuke of Trump and Trumpism however thin the margins. And McConnell, a pandering piece of garbage if ever there was one (hint, he started his career as a leftist, but shifted right when he saw it as profitable to his ambition, the man has no framework of ideals as evidenced by pandering to Trump despite holding a hatred for the man and what he stands for). Although I lie to the left/far left, it’s been refreshing to see a handful of republicans take a consistent stance against Trump (Mitt Romney for one). I hope that they can rebuild their party around a set of ideas and policies that address issues rather than fears.

Democrats just, just barely have the moral high ground right now. I will not be surprised to see them over-congratulate and blow it given that an even slightly more hinged and centrist repub candidate would have won the presidential race in a landslide and helped the party retain the senate. This is by no means a strong Democratic mandate.

#163 BillyBob on 01.06.21 at 12:49 pm

#160 Faron on 01.06.21 at 12:18 pm
#134 BillyBob on 01.06.21 at 6:10 am

You can be half my age and still be paternalistic.

All I have for you is this: Frankly, at the most generous, you have the same problem I have — blind disdain for a mindset. The difference is a) I’ve been willing to rail quite firmly, and to the triggered like yourself, with fact that comes off as anger due to my use of bombast and/or cutting language and in doing so stray to personal attack when someone “needs” to be cudgeled so b) I take a stance on a variety of issues even if it happens to align with a stereotype of yours (note, stereotypes are ALWAYS garbage). If that exposes a flank to some strangers on the internet, who gives a crap? Really? Thinking about it now, it really boggles my mind that in a blind and faceless forum of ideas anyone can get their hackles up, myself included. But especially you tough right wingers, I mean, I’m a Vic hipster so microaggressions and being harmed by them is my bread and butter. You on the other hand…

And if you weren’t triggered (I’m using that word because I know you hate it. You’ll be surprised to learn I hate it too) you would see that I am perfectly capable of humor and light heartedness.

Have a good evening. Looks like I’ll be needing a mental health day today…

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

Goodness. You do come across as a desperately unhappy individual. Internet persona or not. I am sorry that is the case and hope it passes.

I just meant the whole Victoria schtick is funny and predictable, that’s all. Sorry that was classed as “triggered” in your world. I think you may be overestimating how much I care what you think by a wide margin. Which, again, I find sorta amusing but a bit sad so I’ll refrain from engaging in the future as it seems even MF has thicker skin.

First snow here and it’s beautiful! Enjoy the rain, “at least you don’t have to shovel it” as every Victoria-ite likes to say.

#164 Faron on 01.06.21 at 12:56 pm

#159 SoggyShorts on 01.06.21 at 12:13 pm

#145 SunShowers on 01.06.21 at 9:54 am
#112 Michael in-north-york

Can I wade in here? I think one side is talking about apples and the other oranges here. Excuse me if I’m wrong.

I’d like to point out that there’s a difference between small businesses who maintain a cadre of employees and survive in a brutally competitive space (smaller the business the smaller the moat) and public corps, especially those of size. As the son of a small business owner, I have had glimpses of small biz operations and by no means were we rich, nor the employees, yet my dad worked his arse off. It seems like what SunShowers/Withwings/SeeB and others are arguing against falls more toward corporate greed.

A simple example is a corp that simultaneously pays its employees minimum with little opportunity for advancement, maintains a sub-full time work schedule to avoid certain labour requirements, stifles unions, and essentially demands on-call availability to take shifts preventing a worker from holding more than one job all the while buying back its shares, doling out a dividend and compensating the CEO at an 8 figure annual rate. Large corporate entities that fit the above model essentially mine their workers so that they can transfer that profitability directly to management and the shareholders. Capitalism at its most pure. That is a totally different animal than a small business divvying up a small balance sheet to keep the entity running. Conflating the two will only harm small business and is a mistake.

Share buybacks, dividend payments and excessive executive compensation are sheer greed and the clearest form of upward wealth transfer. Sure, it benefits us investors who can take our $$, buy XYZ and do nothing productive other than provide some market liquidity and watch the cash roll in. It’s insane. Us doing nothing to earn money is counter productive for the economy. Those dollars would be better directed to the low wage earner where the money would be spent in the economy, often at small businesses, and help keep the economy running. That would meaningfully increase the velocity of money when compared to a share holder moving money from savings into more shares and then scraping dividends to then either put into savings or buy more shares and thus produce little marginal good to the running of the economy. When all of this happen in a country like the US where the social safety net is bare-bones, you quickly arrive at what can only be called exploitation.

#165 SoggyShorts on 01.06.21 at 12:57 pm

#23 SunShowers on 01.05.21 at 4:08 pm
#4 SoggyShorts on 01.05.21 at 2:28 pm

“People with the guts and ambition to take a shot are rare.”

People with startup money are more rare.

***********************************
Yeah, but that’s because they make different choices.
I had a decent supply of start-up money… because I worked extra hours and saved up- no one gave it to me other than my personal credit card and a personal loan I took out for a truck, and let’s face it, you have to really screw up your credit to not get vehicle financing these days.

#166 NoName on 01.06.21 at 1:07 pm

Can we just dial down on English, just tinie beet so i can put my webster miriam down. I’ve noticed in ever since new year started maybe bit before iam reaching for it more often than ever. I’m ustoit finding one or two a day upstairs, but not that much downstairs in comment section. What is going on?

Here are examples of biggest offenders today.

bloviating
simian paws
exacerbates
erudite
introspection

But iam sure ill came across more as i make my way up to beginning.
(i do read comments from bottom up)

#167 Sail away on 01.06.21 at 1:08 pm

#155 IHCTD9 on 01.06.21 at 11:29 am

So what happens when the next person being interviewed for the job looks over all the supplied numbers and decides they’d do the job for less? …and the next interviewee does the same – and the next, and so on?

———-

That’s a great idea!

I’m changing our hiring procedure:

All candidates who meet the qualifications will be given the opportunity to provide a salary fee proposal for their services, complete with detailed cover letter detailing the way they will benefit the company.

Whoever gives the best bang for the buck wins the job.

Love it- thanks!

#168 SoggyShorts on 01.06.21 at 1:11 pm

#75 -=withwings=- on 01.05.21 at 7:53 pm
@#4 soggy bottoms

Capitalists like me put in our time doing those jobs. It’s where we learned the skills and earned the money to try and better ourselves.
Under communism, no one gets to be a CEO. Ever. regardless of effort, time, or sacrifice.

False. Like so stupidly false it boggles the mind. Who do you think ran the factories in Russia? some randomly picked min wage earner? Nope, you worked your way up to be the factory lead, just like anywhere else.

****************************
Wait… do you think that communist Russia was a meritocracy and everyone at the head of factories earned their way to the top?
Nepotism and corruption didn’t have a major role?
Wow. Ok, let’s assume that’s true instead of so stupidly false it boggles the mind.
What’s the difference between being a western CEO and running a communist factory while having better food & a car & a bigger house and generally much better lives than common workers?
The honest answer is nothing, and those Russian factories weren’t truly communist- certainly not how SunShowers wishes communism to be implemented: “worker-owned & run co-ops”
——————————————-
#75 -=withwings=- on 01.05.21 at 7:53 pm
Also, consider that being fired just means that you’ve lost tomorrow’s paycheck.
Losing your company can mean losing all of your previous paychecks too.

huh?

****************************
I’m not sure how this was unclear.
Small business owners often have everything that they have earned over the past several years(or their whole lives) tied up in the company, and if it goes under they have nothing left.
If an employee who after several years of work has spent the money on a car, house, RRSP, TFSA, and other stuff gets fired they do not have that taken away by their boss.
To put it a third way:
After getting fired the employee can get back to the point they were at last month by finding another job. Not always easy, but compare it to the small business owner who has no real path to recoup [a decade] of lost time and income.

The level of risk is nowhere near even.
———————————-
#75 -=withwings=- on 01.05.21 at 7:53 pm
People with the guts and ambition to take a shot are rare.

No they aren’t. Every year about 100,000 new businesses are started in Canada and there are well over 1.2M running at any time

********************
15m workers and 1m companies. Seems like companies are rarer than workers to me.
———————————–
#75 -=withwings=- on 01.05.21 at 7:53 pm
Approximately 20% of new businesses fail during the first two years of being open, 45% during the first five years, and 65% during the first 10 years.
Do workers get fired at that rate?

For job switching those are about right.

*********************************
Switching jobs does not generally mean a devastating loss of income and/or bankrupcy.
————————————-
#75 -=withwings=- on 01.05.21 at 7:53 pm

You seem to have a very inflated opinion of yourself. You just sound scared to be honest, desperately humble bragging hoping others will validate you. Sad.

****************************
First of all, signing off a post with “sad” has kinda been ruined by the Cheeto-in-chief.
Secondly, if “I worked hard and it sucked” sounds like bragging to you,that’s sad.
Finally, mine is a cautionary tale, not a braggadocious one. As I said in my other post, I regret not remaining an employee: the added stress and countless unpaid hours of having a start-up outweighed the financial gains made at the end. Even had my results been guaranteed instead of against the odds, I don’t think I would make the same choice knowing what I do now.

#169 Lorne on 01.06.21 at 1:12 pm

#73 crowdedelevatorfartz on 01.05.21 at 7:51 pm
Gee.
Tiny little Israel has managed to inoculate over 1 MILLION of its citizens in 10 days……
Proof positive that Canadian bureaucrats only excel in one thing ….. talking.

https://www.irishtimes.com/news/ireland/irish-news/it-s-being-treated-like-a-war-israel-s-rapid-covid-19-vaccination-drive-1.4449213
………..
And Israel has a land area 2/3 the size of Vancouver Island compared to Canada which is the 2nd largest country in the world. Think it might have some impact??

#170 jess on 01.06.21 at 1:31 pm

retributive justice ?
Biden to nominate Merrick Garland as attorney general

#171 NoName on 01.06.21 at 1:32 pm

@Fraon

Have a good evening. Looks like I’ll be needing a mental health day today…

Faraon i like you in this fight because you are getting you arse kicked and steel fighting, very few people like that around. Others just go down turteling…

But using word like paternalistic is not not helping anyone. Dont tell me learn to English beacose that would be raceist. You see a problem here?

#172 IHCTD9 on 01.06.21 at 1:34 pm

#67 Nonplused on 01.05.21 at 7:29 pm

And as for “immigrants outperform native born Americans (and Canadians)” I am not so sure that is true. They seem to perform about the same to me. I suppose maybe the immigrants have the edge because you are getting the people that have the drive to seek a better life even if it means moving to another country. But nobody should ever assume this is a charitable act. We are stealing the best and brightest from countries who need them the most.
_____

Your last sentence is what I’ve always liked about our immigration system, and it’s a wonder that other countries let so many of these Citizens go every year – since a handful of them could probably put the kibosh on an individual Citizen’s plans to leave.

I’ve used the CRS online to see how many points I’d get if I were to try and immigrate to Canada just for fun.

So, I’d never get in. Way too old (I’d get zero out of 100 possible points) no fancy degree, I’d lose points right across the board because I have a wife and kids. Speaking English and Canadian work experience wouldn’t be enough. The CRS paints a pretty clear picture of what you need to bring to the table if you hope to get into Canada – basically the best demographics that any country could offer is what it takes.

#173 Dr V on 01.06.21 at 1:38 pm

https://thefrugalgene.com/millionaire-next-door-myth/

Sunshowers – the link misses one of the key points in the book.

You are missing out on huge opportunities.

Figure it out.

#174 gattaca on 01.06.21 at 2:00 pm

Another 10% year for RE. That would be awesome. Canadian RE has so far turned out to be the best investment in the last 2 decades. Future looks flat or up. Way to go.
All my friends cannot stop talking about their house prices. No one mentions the property tax increases.
Will it change. Who knows? Hope it does.

US equity returns crushed Canadian real estate performance over this period. – Garth

—————————————————-

Prime example is my US stocks account. 1 yr return as of yesterday was 86%. 3 year return is 77%. No leverage used. 5 year is 348% but that is skewed by coming off a small base since I was previously 90% in C$ stocks.

#175 Faron on 01.06.21 at 2:03 pm

#168 Sail away on 01.06.21 at 1:08 pm

#155 IHCTD9 on 01.06.21 at 11:29 am

Congrats you two, you just stumbled upon the gig economy. Well done! Mine that distortion while it exists. Eventually it will be regulated out or will lead to enough economic wreckage that it will be rioted out.

#176 IHCTD9 on 01.06.21 at 2:23 pm

#168 Sail away on 01.06.21 at 1:08 pm
#155 IHCTD9 on 01.06.21 at 11:29 am

So what happens when the next person being interviewed for the job looks over all the supplied numbers and decides they’d do the job for less? …and the next interviewee does the same – and the next, and so on?

———-

That’s a great idea!

I’m changing our hiring procedure:

All candidates who meet the qualifications will be given the opportunity to provide a salary fee proposal for their services, complete with detailed cover letter detailing the way they will benefit the company.

Whoever gives the best bang for the buck wins the job.

Love it- thanks!
___

Let me know how it turns out, I’m going to get a side bet going with SS: If someone offers to do the job for less than the 130K you originally thought was fair, SS pays me a Mil!

#177 waggily tail on 01.06.21 at 2:25 pm

#125 other guy in Vancouver on 01.06.21 at 12:20 am
“All Canadians vaccinated in 2021” …

If Elections Canada can spend ~5 minutes with each member of the adult population in A SINGLE DAY, securely move and store materials, run the logistics of thousands of temporary venues, why can’t we arrange to get every available dose into an arm every day, and get this job done in a couple of weeks? It’s a total failure if the vaccine manufacture is NOT the bottleneck. The boy had months to plan this.

You need two shots. Plotting progress to date:
400,000 doses ÷ 2 per person = 200,000 people in 3 weeks. With a population of 37,000,000 it would take 185 three week injection campaigns, or 555 weeks, or 10.6 years. Half the population would take 5 years. Just the “at risk”, maybe 10 million people, would take three years. The injection does not disrupt transmission, nor convey immunity (WHO). It is a mechanism in a lipid coating designed to produce and then induce a response to a specific protein. Therapies require informed consent, so the provider will require more than five minutes per injection (paperwork).

#178 crowdedelevatorfartz on 01.06.21 at 2:25 pm

@#170 Lorne
“And Israel has a land area 2/3 the size of Vancouver Island compared to Canada which is the 2nd largest country in the world. Think it might have some impact??”

++++

Yeah.
But they’re not delivering the vaccines by horse and buggy for gods sake.Jet airplane and motorvehicles seem to deliver Amazon packages within 2 days max anywhere on the fricken planet.

Canada’s vaccination rate .
4 per 1000,
US and UK vax rate 13 per 1000
Israel is 158 per 1000
Our fearless leaders have been promising a vaccine and a swift roll out for what ?
4 months?
6 months?
Lotsa time to prepare.
Unless you’re a bureaucrat that spend endless hours in meetings discussing “synergies” and “empowerment”….instead of boring reality stuff like.

“Where can we set up a table with vaccines to take names and jab arms…..”

#179 Faron on 01.06.21 at 2:35 pm

#164 BillyBob on 01.06.21 at 12:49 pm

It’s actually the case that I’m quite happy in life. What I’m angry and befuddled about is a certain political line of thought that is, thankfully, seeing some degree of rebuke in the US the past couple of months but that gets spewed about here on the regular. It’s also the case that I am a lefty who carried that line of thought into a righty/libertarian domain and got piled onto because I didn’t toe the line and revealed a wide swath of beliefs and knowledge some of which aligns with a leftist phantasn in your mind that you fear. i.e. how is it that you were moved to post derisively about Victoria by my posting about slogging up a local mountain for the new year? Seriously? Despite your claim, you obviously care enough about what I think and write to have tracked that and been moved to make a derisive comment about the city I dwell in and that actually isn’t my ideal place to live despite my defense of it. Hilariously, I agree with you that Bear Mountain is a disgusting mess and have precisely the same feeling about staring at it when I have been atop Finlayson. And if you think that’s something, you haven’t driven through Langford lately.

And self-congratulation? You seem to take every opportunity to point out your situation in the Czech Republic. Pat yourself on the back my good man. Maybe a little self-reflection on your part is in order?

#180 Apocalypse NOW on 01.06.21 at 2:39 pm

US CAPITOL UNDER ATTACK!!

Updated 2:18 P.M.

“U.S. Congress Under Attack, Trump Supporters Enter Capitol Building”

https://nymag.com/intelligencer/2021/01/trump-supporters-storm-u-s-capitol.html

GET OUT OF THE USA! PACK UP TO LEAVE URBAN CENTRES!

NOW!

GLOBAL CHAOS COMING!

You have no idea how ready China and Russia are to deal with all this. It will be EPIC.

PREPARE

#181 the jaguar on 01.06.21 at 2:46 pm

Garth: can please advise on what would be needed to organize and vote someone off the blog..? Similar to voting someone off the island on the old tv show Survivor?

Name and shame. If there is support, he/she will be thrown overboard. – Garth

#182 Stephanie Desousa on 01.06.21 at 2:46 pm

To Gregory Santos, you are going to be right but by how much who knows. I sold all my 30 year US bonds in April 2020 at around 1.22% to 1.23% yields. This looks like almost the low since April-2020. Interest rates looked too low to me to stay that low for a long time this is why I sold them.

I see you are right that today 30 year US bond yields are 1.82%. Those same 30 year US bonds I sold back in April-2020 are probably worth minimum 8.5% to 9% less in value today.

I bought them at $101.75 back in the 3.41% yields in October-2018 and about 1.5 years later made a 27.2% net profit which includes interest earned too after exchange rates, fees etc.

I took all that and put it in 5 year GIC’s from 2.55% to 2.9% back in April-2020 so averaging 2.65% per year, total 13.25% plus 27.2%=40.45%/6.5 years=6.223% per year return. My goal was a sustained 5% rate of return for the next 6 years plus.

I would not be surprised in 2023 to 2024 by April maybe May 3.25% to 3.75%+ US treasury bond yields again. As for 30 year US bond yields near or above 4%, the last time that happened back in 2010 to 2014, 3.6% to 3.9% back in 2013 to 2014 and 4.60% to 4.75% 30 year US bond yields back in April-2010.

#183 Sail Away on 01.06.21 at 2:50 pm

#176 Faron on 01.06.21 at 2:03 pm
#168 Sail away on 01.06.21 at 1:08 pm

#155 IHCTD9 on 01.06.21 at 11:29 am

————–

Congrats you two, you just stumbled upon the gig economy. Well done! Mine that distortion while it exists. Eventually it will be regulated out or will lead to enough economic wreckage that it will be rioted out.

————–

Nope, not gig- we’re talking full-time, salaried employees here… with a little Hunger Games competition for the position.

My best employees do everything they can to become indispensable and leverage that for their own compensation increase. If they can sell me, they can definitely sell to clients. By the time they are registered with 8-10 years under their belts, their pay is mostly their responsibility. Numbers are numbers.

I have many employees whose salary is higher than mine. For that matter, Warren Buffett’s salary has been $100,000 for decades, although he writes multimillion dollar bonuses to his managers.

#184 IHCTD9 on 01.06.21 at 2:54 pm

#176 Faron on 01.06.21 at 2:03 pm
#168 Sail away on 01.06.21 at 1:08 pm

#155 IHCTD9 on 01.06.21 at 11:29 am

Congrats you two, you just stumbled upon the gig economy.
___

Or the bidding/RFQ process. It’s pretty much the only way some of those rich greedy business can get any work. You can watch it happen real time on MERX – total horror show.

Some corps even have “reverse auctions” now where 5-6 vendors pound each other into the ground, live. It’s like a digital Coliseum with the buyers in the stands, and the vendors in the arena hacking each other into bacon strips. Makes “The Gladiator” look like Polka-Dot-Door.

#185 Faron on 01.06.21 at 2:55 pm

Have a look at what’s happening in DC right now. That’s what I’m railing against.

Sure, name and shame. I’ll name myself. Faron should be voted off this blog for standing and speaking strongly against the melee that is unfolding in the US capital right now. I’m utterly dismayed.

Jaguar, that you just stood against antifa while implicitly (by not speaking against) supporting Proud Boys/Patriot Prayer is a detestable standpoint to take. Congrats.

#186 Faron on 01.06.21 at 2:58 pm

#185 IHCTD9 on 01.06.21 at 2:54 pm

#176 Faron on 01.06.21 at 2:03 pm
#168 Sail away on 01.06.21 at 1:08 pm

#155 IHCTD9 on 01.06.21 at 11:29 am

Fair enough. Despite my commie creds, I see merit in competition like this. As I wrote above, small business and mega corp should not be compared.

Anyhow, I’m feeling pretty worked up by what’s happening in the US right now. Signing off.

#187 Ustabe on 01.06.21 at 3:11 pm

#182 the jaguar on 01.06.21 at 2:46 pm

Garth: can please advise on what would be needed to organize and vote someone off the blog..? Similar to voting someone off the island on the old tv show Survivor?

Name and shame. If there is support, he/she will be thrown overboard. – Garth

I am absolutely appalled at this exchange! If we don’t adhere to GroupThink, go along with the cult like adherence to a certain version of reality held by a vocal few who portray themselves as victims we get “voted” out?

The original question is aberrant, your answer is startling in its acceptance of you abdicating control over your blog and the combination of the two is anathema to me and, I suspect, many others.

#188 Lorne on 01.06.21 at 3:27 pm

#179 crowdedelevatorfartz on 01.06.21 at 2:25 pm
@#170 Lorne
“And Israel has a land area 2/3 the size of Vancouver Island compared to Canada which is the 2nd largest country in the world. Think it might have some impact??”

++++

Yeah.
But they’re not delivering the vaccines by horse and buggy for gods sake.Jet airplane and motorvehicles seem to deliver Amazon packages within 2 days max anywhere on the fricken planet.

Canada’s vaccination rate .
4 per 1000,
US and UK vax rate 13 per 1000
Israel is 158 per 1000
Our fearless leaders have been promising a vaccine and a swift roll out for what ?
4 months?
6 months?
Lotsa time to prepare.
Unless you’re a bureaucrat that spend endless hours in meetings discussing “synergies” and “empowerment”….instead of boring reality stuff like.

“Where can we set up a table with vaccines to take names and jab arms…..”
……..
Again, in Israel they can fly into one airport and drive the vaccines to any other place in the country in refrigerated trucks, in 3 hours. Just a little bit easier and FASTER than getting things to Yellowknife, Nunavut, St. John’ etc. We will get there….just a little slower than you and likely everyone else, had been hoping for.

#189 Darren Sanchez on 01.06.21 at 9:15 pm

I’m sorry to say is if you think that you the democrats, liberals, whoever utopian party you are thinking is going to make you a winner, you are in for a rude awakening. I know, I am from Cuba. I know how it works and how it ends up.

Read up on history. The power stays always at the top and under a fascist, communist, dictatorship or any other tyranny system that is non capitalist or non semi-capitalist system, losers become even more losers not better off. You want equality, you will get equally poorer in every way from losing your freedom of movement to freedom to what you will eat for dinner to what you type of life you can ever have. Good luck delusioncrats, Liberdelusionals.

#190 morrey on 01.07.21 at 1:08 am

#190 Darren Sanchez
Read up on history

When you have get back to us. And hopefully you wiil have also learned on how write about history in a coherent manner.

#191 theoryInPractice on 01.07.21 at 6:32 pm

#80 Dave on 01.05.21 at 8:01 pm
“All Canadians vaccinated in 2021”

365 days * 24 hrs a day * 60 mins an hr * 60 seconds a minute = 31,536,000 seconds a year

So we need to prick someone about every second to carry out these politician’s statements. Am I missing something here, this doesn’t seem realistic. Maybe it’s every 2 seconds as maybe only half the population gets it, but at the same time we’re not administering around the clock either. But either way, is it the case of “the math doesn’t lie, just politicians do”? Garth, get your suspender guys to dig into this and see if it is possible.

—-
Yes you are missing something, your conclusion is so wrong ! Where did you get your education, was it in Canada ? I can explain to you why it is so wrong :), but giving you a chance to figure it out on your own.