Re-entry

Downstairs they’re building be a long line of EV charging stalls. Plus hundreds of secure bicycle parking spots. Up above – cascaded over rooftop terraces leading 19 stories into the iclouds – will be 18,000 square feet of outside space. Patios. Trees. Grass.

The hulking glass-sided structure thrusts above four heritage properties fronting King Street in DT Toronto whose two-storey facades have been supported during three years of construction by an elaborate frame of steel girders. So just another new office edifice in a city eternally punctuated with cranes?

Kinda. But this one is symbolic. All of the 400,000 square feet of space has now been leased by Google. When finished, the first of its 5,000 Canadian employees will be moving into the ‘collaborative, innovative’ space one block north of the iconic dog fountain in Berczy Park.

This week came some news out of Alphabet – the Google parent – that three-quarters of the company’s 135,000 workees have indicated on a survey they want to go back to the office. They crave connections. Physical proximity. The stuff that helps sparks happen. “There’s something about innovative work — when you need that spark,” says the company’s head HR dude. “Our employees feel like those moments happen better when they’re together.”

This is all interesting as we move into the re-entry phase. Some companies are so ready for it. Many people are not. Society seems to be at an inflection point.

Sunday morning I walked through St. James park, a block from the rising Google tower. A woman sat on a bench reading her phone, mask down around her neck, a purebred Samoyed lying at her feet. “May I pet your dog?” I asked. She looked at me through wary eyes. “He’s afraid of people,” she said. I knelt down and the Sammy licked my nose. I looked up and the woman was now standing, mask raised over her face, at the end of the extended six-foot lease, as far away from me as possible without lurching her pet. It was not the dog that felt fear.

Reintegration won’t be easy. Or quick. But it’s inevitable. Google has been saving a billion a year worldwide by not having to host employees in physical spaces, and yet wants people back. Sixty per cent will be returning part-time in September. A fifth will be remote. The rest can reapply to work in a different office. Google, like a few other high-tech outfits, has a policy of reducing the salaries of people who decide to move to cheaper digs, or stay in their home offices.

  Meanwhile a few blocks away CIBC Square is half-built. It will be a Canadian landmark, clad in glass diamonds and with three million feet of space sitting atop the city’s rail transit hub and spilling into an acres-big elevated urban park. Bank employees will be recalled in September to their old offices at King & Bay. When the Square opens in 2024 expectation is it will be fully-occupied. Until the next pandemic hits. In 2120.

Urban real estate is reflective of these weird times. Q2 condo sales in Toronto were close to nine thousand units, up 155% from the disaster of a year earlier. The average price in Toronto is now $710,100, 9% more year/year and way less than the price inflation of detached homes. In an interview last week bank economist Benny Tal forecast a big pop in DT condo sales and prices, and he’s not alone. The reasons are simple. Detacheds, rowhouses and semis near the core are totally unaffordable. Two million is hardly an entry point now. Condos are the logical first rung on the property ladder. Plus, the uni and college students are coming back. And immigrants, whose numbers were cut deep by Covid. Mostly, however, it’s the reopening trade. The bank towers will not stand empty. Professional sports, theatre and concerts are returning. And Google presses on with its new creation.

Big cities are not for everyone. The virus pushed away many who will never return. The pandemic distorted property values in the burbs and beyond while wounding urbanity. That pendulum’s likely to swing back more quickly that most people thought possible. Human nature has not changed. We’re social animals.

The dogs get it.

About the picture: “Here is our pandemic pup, Daisy, write Jordan and Erin. “he’s a shepherd/lab/mastiff mutt that we got back in Ontario last July. She did NOT enjoy the flight to BC, but has recovered. Like us, she has fallen in love with Nanaimo. Unlike us, she has demonstrated this love by rolling in herring spawn, barking at the black rabbits along the marina, and sampling various sun-dried sea creatures at the beach.”

133 comments ↓

#1 SoggyShorts on 07.18.21 at 12:01 pm

#66 My Body My Choice on 07.18.21 at 9:35 am
#43 Soggy Shorts

I slandered the comment section of that article and with good reason, go check it out.

Of course, I believe in science, and I’m eager to read more on it but as for Malone, he seems to be a pretty huge attention seeker. Did you even look at the fact-checking I linked? Several false statements and others were misleading at best.

Just as it was misleading to declare him the inventor of the mRNA vaccine (which implies this specific vaccine made in 2020) when he was actually one of several scientists who worked on mRNA technology in the 80s.

I would have thought an anti vaxxer such as yourself would support a little healthy skepticism. Or is disbelief only a good thing in the case of overwhelming evidence?

Maybe my brain is soggy as you say, but I think It’s important to use some critical thinking and to dig maybe just a little deeper than an eye-catching headline. If you’re capable that is, otherwise feel free to just swallow anything that site puts out whole. Whatever blows your hair back.

#2 Stormy Daniels on 07.18.21 at 12:02 pm

Garth, so nice to hear you mentioning the Toronto dog park where we met!

Remember? You, Bandit and me. My contact lenses fell out, and I was bent over looking for them in the grass. Then one of you (with a furry face, so I’m not sure which one of you, but the court will sort that out) started humping my leg.

We can still settle my claim amicably for $130,000. Sorry for your loss, but did Bandit leave behind an estate my new lawyer can go after as well?

#3 In complete agreement on 07.18.21 at 12:20 pm

The competition that will erupt between the economies of China, the US, Eurozone countries, and others will be fierce. We are in a fourth industrial age where the emphasis is on artificial intelligence and all that it entails. While part of a workforce in a remote setting is possible, we surely need to have the best and the brightest engaged and productive in order to keep pace with, what could be, a blistering pace of innovation and change.

#4 Quintilian on 07.18.21 at 12:27 pm

Perhaps things are going back to normal.
And a legacy lesson learned.
It seems to be universally agreed that monetary policy has failed. Confirmation is given not by some official declaration in a press release but rather by action.

Western governments are going back to Keynesian methods, and phasing out the Friedman sham.

The early signs are the tapering. If my observation holds true, the next step will be huge government capital expenditures, leading to cost push inflation, leading to normalizing interest rates.

Imagine an average GDP of high single digit, for a few years, and what interest rates will be to keep inflation under control?

Will the entry level positions of those who will work in those towers be 500K ?

#5 Joe on 07.18.21 at 12:33 pm

Cities were great when you couldn’t work from home, when cranes weren’t crashing down on condos, when old buildings weren’t collapsing, when there wasn’t a lot of pollution smog, when the commute wasn’t such a long chaotic stressful waste of precious time, when people weren’t rioting due to wrath inequality and toppling statues, when there wasn’t so many tent cities in parks and when there was actual green space. Not so much anymore. I’ll stay in King City. Thanks.

#6 BoJo the British PM clown IN CHIEF on 07.18.21 at 12:36 pm

Gaggle, Fakebook and Twatter, useless garbage companies that should be broken up and destroyed..

The equivalent of Robber barons of 19th century.

Ditto.

#7 My Body My Choice on 07.18.21 at 12:43 pm

DELETED (Anti-vax)

#8 Joe on 07.18.21 at 12:46 pm

Shopify was one of the first to officially change to WFH, will be interesting to see if they reverse that decision

#9 My Body My Choice on 07.18.21 at 12:49 pm

Provincial election called in Nova Scotia.

All parties are promising Health Care, Seniors, Youth, Jobs … blah, blah, blah … all empty platitudes. All parties are the same, just different leaders and different coloured logos.

Seems like diversity isn’t allowed in politics anymore.

#10 Dolce Vita on 07.18.21 at 12:57 pm

Until the next pandemic hits. In 2120.

-Optimist

————–

Still good to go for Garth’s 70% all vaxd by the Aug long weekend (Projected vs. Actual max error was -0.86%):

July 29, 82%/71%

Though, 7-day average vax rates are plummeting in Canada. As of yesterday:

https://i.imgur.com/dww3WCU.png

Vax Hesitancy like 10.8% of Americans? I don’t know but troubling. There are still this many Cdns not vaxd as of yesterday:

6.74 million, 12+ (eligible for vax)

11.8 million, total population
[I quote this number as I doubt Delta cares if they are eligible or not]

Still plenty to Dine on for Delta. BTW, new study finds that Delta’s viral load is this much greater than other Covid spawn:

X 1250

…explains a lot.

——————

FUN FACT:

Tomorrow is the UK’s Freedom Day when Covid restrictions are lifted. 48,000 new cases there today and

8 hrs ago:

“Outrage as Boris Johnson avoids self-isolation after being pinged for contact with Covid-positive Sajid Javid*”

*Secretary of State for Health of the United Kingdom

2 hrs ago:

Boris Johnson and Rishi Sunak** will self-isolate after Number 10 initially said they would not

**Chancellor of the Exchequer

…as you can ascertain for yourselves that soon enough there ought to be no one left to run Gov UK.

#11 My Body My Choice on 07.18.21 at 12:59 pm

DELETED

#12 crowdedelevatorfartz on 07.18.21 at 1:02 pm

@#9 My Body/Choice
“All parties are promising Health Care, Seniors, Youth, Jobs … blah, blah, blah … all empty platitudes. All parties are the same, just different leaders and different coloured logos.”

+++

Yep.
Ditto for the Federal election.
The Budget Destroyers have drank the Kool-aid….

Will the voters?

#13 crowdedelevatorfartz on 07.18.21 at 1:10 pm

@#63 Don.
“Have you checked your grocery bill lately? A global food crisis is brewing.”

++++

Yep.
An interesting article in The Economist a few years back called “Say goodbye to cheap food”.

It opined that China’s 1.4 billion rising middle class consumers would want better food.
Global climate change would affect crop yields detrimentally.
Shipping costs would skyrocket.
Global birth rates would continue to rise.

How’s $20/loaves of bread sound?
$20 for a dozen eggs?

Good times.
Oranges

#14 Concerned Citizen on 07.18.21 at 1:16 pm

“the pandemic distorted property values in the burbs and beyond while wounding urbanity. That pendulum’s likely to swing back more quickly that most people thought possible.”

I’ll believe it when we see it. Remember, the modern day policymaker is an asset price inflation fundamentalist that believes “smooth market functioning” means ever high asset prices, no matter what that means for societal welfare (such as disenfranchising an entire generation of home ownership). The central banks have proven time and again that they have zero tolerance for declining asset prices. Zero.

Maybe they’ll lose control or inflation will get so high for so long that not even they can ignore it any longer… but until then… I’ll believe it when I see it.

#15 Damifino on 07.18.21 at 1:17 pm

#9 My Body My Choice

Provincial election called in Nova Scotia.
—————————–

Yeah. Here’s hoping the Conservatives take it back, if only for the reason it might make Justin uneasy.

A vindictive stance, I know, but I just can’t help it.

#16 crowdedelevatorfartz on 07.18.21 at 1:17 pm

@#6 BoJo the British PM Clown in Chief

“Gaggle, Fakebook and Twatter, useless garbage companies that should be broken up and destroyed..”

++++++

I only use Google.

Facebook and Twitter are such time leeches i cant be bothered.
It wouldnt bother me if both were broken up and sold but I’m sure billions would be suicidal at their loss.

And the current owners would still be Billionaires with nothing to do but look around for the next “big thing”.

Alas I feel that Fakebook and Twaddle will be with us until after WWIII when we are more concerned with trying not to be eaten by each other……

P.S. Love the name .

#17 An old retired guy on 07.18.21 at 1:20 pm

Garth, I reside in your old “Hood” close to Milton GO station. Large areas of the parking lot are fenced off with
weeds in abundance. While passing last Friday I noticed
a team of workers in brightly coloured vests walking all through these areas. It looks as if Metrolinx is starting to make preparations for a return of their regular commuters.

#18 Brian Ripley on 07.18.21 at 1:27 pm

My chart comparing prices in $CAD and $USD for Single Family Detached Houses in Vancouver, Toronto and Calgary with FX and Crude Oil Notations is up: http://www.chpc.biz/canadian-housing-in-usd.html

In June they were 18% cheaper in USD.

They were 28% cheaper in February 2016 and at the March 2009 Pit of Gloom, prices were 21% cheaper in USD.​

ps… re: Condos
Buyers looking at condos as an investment or housing should also look at the history of condo booms… Vancouver is a sea of misery for buyers of leaky condos that were built in the boom of the 1980’s. I suspect the building boom of this last decade also includes problem buildings that will becoome evident over the next decade. When the boom is on, materials are in short supply and builders substitute and rush to meet deadlines. When I lived in Vancouver in the 1990s through 2017, my neighborhood walks included passing by condo projects shrouded in screens as exterior walls were being stripped, and on many occaisions, chatting with workers, I would hear the same refrain that the buildings they were working on then would have to be revisted later for similar problems. Water ingress is a huge problem.

#19 mike from mtl on 07.18.21 at 1:31 pm

Employers are going to have to take a clear, unpopular and hard stance if they wish to have butts warming seats.

NYC for example is several months ahead of us being normal, so far the service & retain industry is bouncing back nicely. However the traditional business and related activities is still grim.

#20 Sail Away on 07.18.21 at 1:32 pm

#13 crowdedelevatorfartz on 07.18.21 at 1:10 pm

An interesting article in The Economist a few years back called “Say goodbye to cheap food”.

It opined that China’s 1.4 billion rising middle class consumers would want better food.
Global climate change would affect crop yields detrimentally.
Shipping costs would skyrocket.
Global birth rates would continue to rise.

How’s $20/loaves of bread sound?
$20 for a dozen eggs?

Good times.

———-

The black rabbits by the marina are still free. Tender, too.

#21 Sheesh on 07.18.21 at 1:37 pm

#1 SoggyShorts on 07.18.21 at 12:01 pm
Maybe my brain is soggy as you say, but I think It’s important to use some critical thinking and to dig maybe just a little deeper than an eye-catching headline. If you’re capable that is, otherwise feel free to just swallow anything that site puts out whole. Whatever blows your hair back.
=========
Unfortunately, too many people believe that they are ‘thinking critically’ because they don’t accept the MSM ‘narrative’. Not sure why they can’t see that they need to question what they read on the other sites rather than simply accepting it as the truth.

#22 crowdedelevatorfartz on 07.18.21 at 1:39 pm

Only the International Olympic Committee doesnt see the optics of forcing Japan to open the Olympics during a resurgent pandemic.

https://nationalpost.com/news/two-athletes-in-tokyos-olympic-village-test-positive-for-covid-19

The “Lords of the Rings” have the final say on if the Games open not the host country.

Gee could they be worried about their exalted salaries and positions?
Proving once again…. it isnt about “The Games” but their hunger for advertising revenue.

If any of the athletes die of Covid complications can they be charged with manslaughter?

Time to rethink the steroid enhanced, everyone pee in a bottle, jingoistic, flag waving, anachronism that is the Modern Olympics ?

Nah.
Way too much money involved.

#23 The West on 07.18.21 at 2:03 pm

#9 My Body My Choice on 07.18.21 at 12:49 pm
Provincial election called in Nova Scotia.

All parties are promising Health Care, Seniors, Youth, Jobs … blah, blah, blah … all empty platitudes. All parties are the same, just different leaders and different coloured logos.

Seems like diversity isn’t allowed in politics anymore.

—————————————————-

You do have freedumb but, nothing is easy when you are fighting against the Laurentian Establishment who run Canada like their colony.

Turn off the Clown Broadcasting Corporation and dig deeper. Though it seems overwhelming (it is designed to intimidate you) – there are small cracks that are allowed to exist so it can never be said Canada is under an authoritarian regime.

https://www.atlanticaparty.ca/

Of course, the argument will be endless chides and insults of irrelevance but if the ball is never set in motion how can relevant conversations begin?

As long as we keep our mind shackled to the matrix that best serves the Establishment nothing will ever get better (in fact, it is getting much worse before our very eyes).

Some crystal ball gazes: South Africa & Cuba

Where’s the Clown Broadcasting Corporation on those events…it is particularly quiet.

You have to create the change you want to see. The driving forces behind real social progression take decades of dedication and perseverance. The deck is stacked against you but it’s not impossible. Before real results, perceptions must be changed. Swords are often required but the pen is mightier.

#24 UCC on 07.18.21 at 2:04 pm

#8 Joe on 07.18.21 at 12:46 pm
Shopify was one of the first to officially change to WFH, will be interesting to see if they reverse that decision

—————

Unlikely. They have no corporate network to speak of. Most likely they will open up collaboration centers for when they feel like they need to get together. They are the “nike” of IT.

#25 Millennial Realist on 07.18.21 at 2:06 pm

Not so fast, methinks. Not by a long shot.

https://twitter.com/danpriceseattle/status/1408094705812901889?lang=en

“Instead of making a top-down CEO decision, we asked our 200 employees where they want to work.

Only 7% wanted to go back to the office full time.

31% wanted a home-office hybrid.

60% wanted full-time remote work.

So we told everyone: do what you want.

This stuff isn’t hard.”

12:08 PM · Jun 24, 2021·Twitter Web App

______________________________________

This will be way more complicated than just a return to workspaces, ‘back to the old days’ declaration.

Some Boomers will be simply run over by the change, of course.

Google kiddos aren’t Boomers. But you never miss a chance to be ageist. Say, how if that different from being misogynist, or racist? – Garth

#26 crowdedelevatorfartz on 07.18.21 at 2:09 pm

Some stats the news channel threw out on the 6pm News on July 15th AFTER a story of how the NDP govt in BC was going to “fix” the paramedic shortage.( more hiring, more ambulances, more safe injection sites…..the usual).

The next story was a subtle jab at the “911 lack of response times” in the previous story.
The “elephant in the room” that no one talks about but everyone knows is the main reason the 911 ambulance response times have gone from minutes to hours….

Fentanyl overdoses.
Dr Bonnie Henry stated,
There are 60,000 drug addicts in BC.
Only 6,000 dug addict use “safe sites” for injecting or rehab.
10% of users admit they have a problem and want help.
The 911 line had 17,000 overdose calls in 2020

17,000 OD calls….
1700 died of overdoses in 2020. A new record.
So far this year we have had 850 OD deaths.

No one wants to say the unthinkable while other people die waiting for an ambulance for heart attacks, car accidents, etc etc etc..

Perhaps the OD calls should go to the “back of the line” on busy days?

Who wants to be the politician that stands behind that career limiting decision……

#27 alexinvestor on 07.18.21 at 2:16 pm

All those google workers are going to push up the prices of houses in TO proper. I’m not really a big believer in current suburban SFH prices … but SFH in Toronto is just a different animal.

#28 Nobody knows on 07.18.21 at 2:26 pm

I was surprised to hear of the majority of Google employees wanting to go back to the office. But then I understood why a few lines down. The choice was between coming back to the office or getting a pay cut. People don’t like pay cuts, even if they might come with other benefits. Psychologists have proved that a long time ago.
I have not met anyone that wants to stop working from home. Nobody I know wants to get back to commuting and fighting traffic every day. We’ll go back if they force us, but we sure hope they won’t. Working from home rocks! Especially if your job is in some depressing industrial neighborhood, highways away from where you live, and if you actually like your family and want to see your kids more than an hour a day.

#29 SoggyShorts on 07.18.21 at 2:44 pm

#21 Sheesh on 07.18.21 at 1:37 pm
#1 SoggyShorts on 07.18.21 at 12:01 pm
Unfortunately, too many people believe that they are ‘thinking critically’ because they don’t accept the MSM ‘narrative’. Not sure why they can’t see that they need to question what they read on the other sites rather than simply accepting it as the truth.
******************
Yeah it’s this super strange cognitive dissonance where they can scream
“Question everything!”
But if you ask whether we should perhaps question the single solitary source of information they choose to believe in the face of overwhelming consensus to the contrary they lose it.

I think it’s probably just people who feel that they have no control in their lives so the idea of being the only one who knows “the truth” gives them some feeling of power. It makes them feel special. A wolf among sheep.

#30 NSNG on 07.18.21 at 3:05 pm

#67 Sail Away on 07.18.21 at 9:41 am

That’s your example? And here you seemed so adamant that businesses get unfair advantages.

Something that many people confuse is the term ‘write-off’. It means that you pay for something, then get to deduct a small portion from taxes. You still pay for it- there is no way to spend yourself into profit although you can easily spend yourself into penury. An example:

Take some clients to a hockey game. Total company cost $10k game + 12% sales tax: $11.2k.

Writeoff 50%, also recoup sales tax on writeoff portion.
12% sales tax on $5,000 = $600
Write off $5,000 at 12% corp tax rate = $600

Total savings after working the system: $1,200.

And the company now has $10,000 less than it did yesterday, no matter how many high-priced accountants you hire.

I notice you completely ignored the non-performing loans issue which is millions more tax dollars than the $10K.
The $1200 is paid for by people who definitely don’t get a 12% tax rate from the government.

Going to the game for business purposes is a choice, not an obligation and it is partly paid for by smaller businesses who can’t afford that kind of expense. Why exactly do you have a business? To make more money so you can spend on things is one reason. Those things aren’t often profit-inducing (though they can create goodwill [or can be a form of bribery]) but big business has finagled a way to get the poor to pick up a portion of the tab.

I don’t begrudge that. What I have an issue with is that it pushes frivolous spending and is thus not tax efficient. If taxpayer rebate dollars are involved efficiency should be the number 1 priority above perks.

#31 Flop... on 07.18.21 at 3:18 pm

Diary of a Government Worker.

Well, I said I would try and document my experience fairly and squarely, had an old work buddy contact me the other day to see if I was still breathing, so it’s as good as any time to tap the iPad keys.

Second month in.

Liking the perks, free iPad and iPhone, also had one decent get together with great food, even though it was in a car park, due to COVID.

Rough numbers would say I have to do 6 hours work and get paid for 8, partly to do with all the bureaucracy of the place, partly to do with working on challenging locations.

Back in my self-employed days, I would try to cram 10 to 12 hours worth of work into 8 or 9 hours, which leads to quick burnout and takes a toll on my already battered body.

I am expected to produce something each day of value, it is still a blue collar job, so paper pushing isn’t an option, I was hired to complete major projects that used to get sub-contacted out, at some stage they will undoubtedly compare cost savings and if I don’t save them enough money to warrant the potential extra cost to the taxpayer then I’ll be back on the Westside trying to make millionaires happy, which isn’t as easy as you’d think.

What else is good?

I’m liking the automatic pay system/direct deposit into the bank account, .no more chasing people for money at 9 o’clock at night, 3 months after finishing the job because they’ve suddenly gotten amnesia you provided a service at their request.

Just got my 4th paycheque, paying tax as I go is something I haven’t done for a while, makes the paycheques less glamorous but should make next April a less stressful cardiac event than handing over all your personal taxes owed for the previous year, oh, and don’t forget to hand over all that GST you collected as well.

Holidays, yeah I would like one, after having my bags packed for Spring Break 2020 and at the last minute having to put my only clothes that don’t have tomato sauce stains on them back in the closet, that was the last time I sniffed a break, I now go on a Google Maps inspired holiday each weekend.

I swore I was going to come out of the COVID quagmire in a better financial position and not play victim, so I’ll have to defer on that point for a while now, could work out better for myself in the long run but as usual only time will tell.

Yours Respectfully,

Canada’s 7,067,844 person in charge…

M47BC

#32 some guy on 07.18.21 at 3:19 pm

I think “normal” will be delayed again by an increase in cases by late fall. Our healthcare system is stretched so thin that 80 percent vaccination rate won’t be enough. We likely need above 90 percent of the population fully vaccinated to go back to “normal”. Provincial and the federal governments need to really coerce the population to get vaccinated before we are all stuck indoors again due to cold weather.

#33 Kato on 07.18.21 at 3:24 pm

#25 Millennial Realist on 07.18.21 at 2:06 pm

This will be way more complicated than just a return to workspaces, ‘back to the old days’ declaration.

Some Boomers will be simply run over by the change, of course.
————————–

I thought they were supposed to get run over by the federal budget, or some other world shattering event you’ve predicted over the last couple of years.

There aren’t many actions society or the feds can take that will hurt the Boomers worse than it hurts us Mills. The other problem is if you carry that torch long enough, you’ll be the older generation with assets (well, speaking generally, not you specifically) that the crowd decides you didn’t earn.

I’m glad you stopped claiming “being part of the change” was a way to keep from being run over. As if cheering for the train running you over somehow saved you from its wheels…

#34 To the point. on 07.18.21 at 3:26 pm

Many US news outlets reported this week that in the city that epitomizes urbanism, New York, only 12-13% of workers have returned to their offices.

If you are an old-school employer, you may see “your” employees as interchangeable units. Obey! Or be demoted or fired.

The pandemic has given everyone the opportunity to consider their lives. Ultimately, smart employers will benefit from meeting rather than minimizing workers’ real human needs.

#35 Summertime on 07.18.21 at 3:26 pm

Looking for cheap labour. Good luck in finding quality employees. I bet that they are getting Canadian/not US salaries.

#3 In complete agreement on 07.18.21 at 12:20 pm

Who would you attract them/the quality employees? With 54 % taxes on top bracket salary, ultra expensive services and very limited quality of life?

#36 Grunt on 07.18.21 at 3:32 pm

Won’t twin CIBC nouveau be collected from other towers like Commerce Court? PATH closures could start a trick lunch hunt. More bodies than pre? imagine the commute home with a concert or game.

Meh. The allure of fresh return hoofs will soon wear off. Like first day back at school.

#37 KLNR on 07.18.21 at 3:42 pm

@#23 The West on 07.18.21 at 2:03 pm
#9 My Body My Choice on 07.18.21 at 12:49 pm
Provincial election called in Nova Scotia.

All parties are promising Health Care, Seniors, Youth, Jobs … blah, blah, blah … all empty platitudes. All parties are the same, just different leaders and different coloured logos.

Seems like diversity isn’t allowed in politics anymore.

—————————————————-

You do have freedumb but, nothing is easy when you are fighting against the Laurentian Establishment who run Canada like their colony.

Turn off the Clown Broadcasting Corporation and dig deeper. Though it seems overwhelming (it is designed to intimidate you) – there are small cracks that are allowed to exist so it can never be said Canada is under an authoritarian regime.

https://www.atlanticaparty.ca/

Of course, the argument will be endless chides and insults of irrelevance but if the ball is never set in motion how can relevant conversations begin?

As long as we keep our mind shackled to the matrix that best serves the Establishment nothing will ever get better (in fact, it is getting much worse before our very eyes).

Some crystal ball gazes: South Africa & Cuba

Where’s the Clown Broadcasting Corporation on those events…it is particularly quiet.

You have to create the change you want to see. The driving forces behind real social progression take decades of dedication and perseverance. The deck is stacked against you but it’s not impossible. Before real results, perceptions must be changed. Swords are often required but the pen is mightier.

lol, is this turnernation’s burner account?

#38 OK, Doomer on 07.18.21 at 3:54 pm

I was in Superstore a couple of weeks ago. Standing in the cashiers line up. The assistant manager brought over the grocery divider sticks and handed them to the cashier. She handed them out to us and the lady behind me excitedly said, “It must be over; they’re giving us the sticks back!”

And the whole line up started laughing, and yes, indeed, it was over.

#39 Wrk.dover on 07.18.21 at 3:54 pm

#75 IHCTD9 on 07.18.21 at 11:12 am
#62 Wrk.dover on 07.18.21 at 6:06 am
#157 IHCTD9 on 07.16.21 at 2:59 pm

I see. Well, a 4.3 Astro Van ain’t getting 24 mpg (USG) every day, not a chance. Flat ground, tailwind, and trying real hard? Maybe. They’re rated at 20mpg hwy and 17 combined (USG) – pretty much exactly what I would have guessed, if I didn’t look it up.
______________________

We’re in Canada, as I stated 24 mpg. I have only ever done the math on the credit card slips driving home from AZ and then converted it to CDN. Yes, 20 miles per US gallon. 85 mph into central Texas, 75mph to the Mississippi, 70 the balance of the trip. 700lb load plus two people. 13 years on, the van after initial rehab, owes me $4000 now, sitting on new tires with new big battery.

You always doubt me. Just trying to help Brah.

#40 Wrk.dover on 07.18.21 at 3:58 pm

#68 NoName on 07.18.21 at 9:59 am

$20 for sale flyer oil, bulk purchased filter and sales tax for every $800 of gas is a good deal. The inside of my engines looks like the inside of your cutlery drawer. No guck.

I give the recycle people something worth having.

#41 Rex on 07.18.21 at 4:21 pm

Google opens an office in Toronto? Nice! I know already for a fact that Facebook employs software developers in Toronto, Amazon is already here, Uber is moving little by little here as well, and Microsoft is not far behind.
Does it make a clear picture where the real estate prices will go?

#42 Tarot Card on 07.18.21 at 4:24 pm

Thanks for the blog Garth

To crowdedelevatorfartz
Your point is well taken and made me think of this story that happened a month ago here in Nanaimo
Husband has a heart attack wife called 911, the operator said it will be a 30 minute wait as we had a high number of drug overdoes today.
I am speechless and Totally dumbstruck!

We have our priorities all wrong. In this country.

So my point if you are having a heart attack tell the 911 folks you overdosed and need help you will get service real quick
For those who want to know the ending of the story, a neighbour drove him to the hospital as the wife was not able to drive. And he lived. Not sure on the OD but there is hope.

For me there is only one thing to do with the druggies and homeless but it’s not printable. But if you want a cheap solution google homeless in Medicine Hat, they don’t have any and it’s a good feeling story.

Have a great weekend !

#43 Quintilian on 07.18.21 at 4:24 pm

#28 Nobody knows on 07.18.21 at 2:26 pm:

“I was surprised to hear of the majority of Google employees wanting to go back to the office.”

This is truly Twilight Zonish.

Alphabet, Google, Internet-The Holy Trinity of the Virtual God needs bricks and mortar to exist.

It’s almost as if the Wizard of Oz was a fake living in a barn somewhere in Kansas.

#44 Arcticfox on 07.18.21 at 4:25 pm

This is interesting!

https://themarket.ch/interview/russell-napier-we-are-entering-a-time-of-financial-repression-ld.4628

#45 Islanddave on 07.18.21 at 4:46 pm

#42 Tarot Card
No homeless in Medicine Hat? We have plenty here on Vancouver Island… and we would be happy to share…
Just saying

#46 Leo Trollstoy on 07.18.21 at 4:56 pm

If “truth” were objective we wouldn’t need a legal and judicial system

#47 Ok, Doomer on 07.18.21 at 5:03 pm

Asking Millenials where they want to work from is probably the biggest loser question a boss can ask. I’d like to know the name of the company so that I can short the $%^& out of the stock. They’ll be broke and gone in a couple of years.

Apparently their CEO never heard the maxim “Never do something that will make it’s way into a Dilbert comic”.

#48 Re-Cowtown on 07.18.21 at 5:06 pm

#46 Leo Trollstoy on 07.18.21 at 4:56 pm
If “truth” were objective we wouldn’t need a legal and judicial system
++++++++++++++++++++++++++++++++

You’re misconstruing truth and legality. Only children and passenger pigeons think they’re the same thing.

#49 Linda on 07.18.21 at 5:09 pm

The thought of paying $700+K for a condo that may only be some 600 square feet in size is like a horror movie. You just know the killer is already inside, waiting for the hero/ine to drop their guard. However, given the insane prices for RE that comes with actual dirt, have to concede that whoever is left in the buying pool really has to consider the option if buy they must.

The repopulation of the DT offices. How much of that is sheer practicality on the part of the companies who rented/built those spaces? Yes, Covid gave some leeway to renters including commercial ones but insofar as I’m aware, rental payments have resumed. Leases might be broken, but at a substantial cost. If I were a business tenant locked into a long term lease I’d not be overly enthused about leaving the office space that I’m paying for empty, regardless of what my staff wanted in the way of WFH.

As for the pandemic, perhaps this will be a ‘once in a century’ event. If it isn’t – if those who study such matters are correct & such events are going to become more frequent in nature – we’d best figure out what to do going forward. Because we can’t afford to just shut things down every time a virus runs amok.

#50 crowdedelevatorfartz on 07.18.21 at 5:09 pm

@#42 Tarot Card
“Husband has a heart attack wife called 911, the operator said it will be a 30 minute wait as we had a high number of drug overdoes today.”

++++

Yep.
The “Elephant in the Room”.
Drug over dose calls overwhelming the 911 response times.

Lets change Fentanyl to Russian Roulette(… since buying lethal drugs from a non govt inspected source is basically the same as putting a gun to your head.)

Suppose there was a mass fad where 60,000 people played Russian Roulette every day.
And 17,000 severely injured themselves to the point that 911 is called to save them from death.
This happens over and over and over and eventually the paramedics are burned out, off on stress leave, quit….etc.

Honest law abiding citizens who have never broken the law or cost the system any money must now wait in the 911 lineup for criminals and repeat offenders?

In war time the medics have Triage to separate out the minor, major and hopeless emergency cases for immediate help or delayed action.. .

Time for BC to start “triaging” 911 calls?

I cant wait for the first lawsuit from a family whos loved one died from a heart attack and waited 3 hours for a response because all the ambulances were sitting at the ER with junkies waiting to be released by an overworked, overwhelmed doctor.

#51 Bob in Hamilton on 07.18.21 at 5:12 pm

“I looked up and the woman was now standing, mask raised over her face, at the end of the extended six-foot lease, as far away from me as possible without lurching her pet. ”

Not. Surprised. At. All. Canadian women….

#52 the jaguar on 07.18.21 at 5:21 pm

@ arctic fox # 44

Thanks for that link. It rings very true. Scary, but true.

#53 Don Guillermo on 07.18.21 at 5:28 pm

#45 Islanddave on 07.18.21 at 4:46 pm
#42 Tarot Card
No homeless in Medicine Hat? We have plenty here on Vancouver Island… and we would be happy to share…
Just saying
****************************************
The island needs the homeless to keep the average age below 65 ;-)

#54 S.Bby on 07.18.21 at 5:47 pm

DT Vancouver has been overrun with homeless people. There are crazy people and druggies all over now and many local drivers are dangerous maniacs. Since all of my business interactions are remote anyways I plan to keep WFH.

#55 Tyberius on 07.18.21 at 5:54 pm

While we’re all waiting for the RE market to take a lengthy pause (or even better, to collapse), many have stated that they’ve got the pop-corn ready for the show.

But, has anyone actually considered how movie theater owners decide to how much to charge for tickets and popcorn?

Well, if you’ve wondered, here’s how:

https://www.aier.org/article/the-high-price-of-popcorn/

#56 Ponzius Pilatus on 07.18.21 at 5:57 pm

My daughter works from home during summer break.
In a fairly big company.
Got an e-mail from HR, saying that someone working from home was caught outsourcing his/her job to someone in India.
So, because of one person’s greed, two people lost their job.

#57 Ken on 07.18.21 at 6:03 pm

Google may not be the best example. My son worked for them during his summers off at UofT. He liked to get there at 7am (by taking the free luxury shuttle bus) and stayed til 8-9pm everyday (to be returned home on the free luxury shuttle bus). Loved the free exercise rooms, free meals, free haircuts, free massages, free time everyday to pursue his own interests/projects. We visited him in California…it was like an all inclusive vacation for the employees. I’d want to go back to work too.

#58 Longbranch on 07.18.21 at 6:12 pm

Think about it.
You are under 30
Looking at the opposite sex
Wanting to join the crowd for drinks
Wanting to socialize
Wanting to find a mate
Well—- not at home, especially if it’s mom and dad’s place
No kidding they want to get back to the office

#59 Ponzius Pilatus on 07.18.21 at 6:26 pm

#42 Tarot Cardiologist

So my point if you are having a heart attack tell the 911 folks you overdosed and need help you will get service real quick
—————-
Ok, let’s go to your (and CEF’s ) point real quick:
If your own action causes the emergency, you should go to the back of the line if you call for an ambulance.
Let me point out  that many patients cause their heart attacks by Smoking, boozing, obesity, lack of exercise etc.
Or the guy who drinks and drives and crashes into a pole.
And, BTW, Horgan has already promised 80 new paramedics and the appropriate number of new ambulances.

#60 NewWest on 07.18.21 at 6:34 pm

#56 Ponzius Pilatus on 07.18.21 at 5:57 pm

My daughter works from home during summer break.
In a fairly big company.
Got an e-mail from HR, saying that someone working from home was caught outsourcing his/her job to someone in India.
So, because of one person’s greed, two people lost their job.

———————-
I don’t get you guys. Always griping about young people and their lack of initiative – and here you have someone willing to think outside the box to better themselves, and suddenly it’s a matter of “greed”.

/s, maybe.

#61 Ponzius Pilatus on 07.18.21 at 6:41 pm

#74 Dr V on 07.18.21 at 10:59 am
67 Sail – yes, exactly that. Many people don’t understand that simple concept.
———————-
So, you guys are saying that tax lawyers and tax accountants really don’t provide mich value to an enterprise.
Well, I’m not an expert in that field, so I wil not offer an opinion.
But, I just wonder,  why Trump would spend millions on tax lawyers and accountants, if he (and all his shell companies) would not gain any benefit from that exercise.

#62 Nonplused on 07.18.21 at 6:50 pm

I read an article some years back, or a study more, or maybe it was an article based on a study.

Anyway the gist of it was that throughout history wealth creation has coincided with large cities. There is something about having the merchants and tradesmen within commuting distance of each other that leads to productivity. This has been true all the way back to Egypt and probably the Sumerians and the Mesopotamians. In modern times, average income can be measured against city population and for any given country they seem to be correlated. It costs more to live in New York, but you get paid more to live there too (on average).

I suppose the internet gave us the promise of “remote collaboration”, and I suppose it has worked to some extent. But when even the people who are building what we now think of as “the internet” like Google are returning to the office, maybe “remote collaboration” has its limits.

So I think the separation will be along the creativity and collaboration lines. Some jobs can be done from home. Some can be partially done from home. Some can’t be done from home.

#63 Not a WFH Guy on 07.18.21 at 6:58 pm

I wager that most people who want to continue to WFH really don’t like their jobs very much and for sure are not going to go anywhere in the company if they sit at home, alone.

#64 Ponzius Pilatus on 07.18.21 at 7:01 pm

#22 CEF 

The “Lords of the Rings” have the final say on if the Games open not the host country.
—————
The “Lords of the round Ball” FIFA had the final say on whether  the Soccer stadium in Munich was allowed to display the rainbow colors on its  roof, during the last EURO.
And you will be pleased to hear that they did not allow it.
Against the wishes of the German Government.
The Olympics and the EURO are Trademarks and are government by International Laws, not national ones.

#65 Garth's Son Drake on 07.18.21 at 7:03 pm

You let a stranger’s dog lick your nose in the era of covid?

Pretty sure no health official recommends this at such time.

Animals and kids are not vaxed and The Delta variant is causing new lock-downs.

#66 When Will They Raise Rates? on 07.18.21 at 7:18 pm

#29 SoggyShorts on 07.18.21 at 2:44 pm

#21 Sheesh on 07.18.21 at 1:37 pm
#1 SoggyShorts on 07.18.21 at 12:01 pm
Unfortunately, too many people believe that they are ‘thinking critically’ because they don’t accept the MSM ‘narrative’. Not sure why they can’t see that they need to question what they read on the other sites rather than simply accepting it as the truth.
******************
Yeah it’s this super strange cognitive dissonance where they can scream
“Question everything!”
But if you ask whether we should perhaps question the single solitary source of information they choose to believe in the face of overwhelming consensus to the contrary they lose it.

I think it’s probably just people who feel that they have no control in their lives so the idea of being the only one who knows “the truth” gives them some feeling of power. It makes them feel special. A wolf among sheep.

—————

Wrong.

The MSM is nothing more than propaganda, all pushing the same agenda. How any educated person doesn’t see this obvious fact is beyond me. It’s blatant.

I don’t trust them because they are proven liars; Outright lies, spin, distortions and misrepresentations, with lies of omission sprinkled in all designed to brainwash the lemmings into taking specific actions in order to advance the agenda.

Aside from some local stories, it’s not news. It’s 90% bullshit and that’s being generous.

You obviously have no idea why some people reject MSM BS, out of hand, because clearly you trust them – with your life, apparently.

#67 crowdedelevatorfartz on 07.18.21 at 7:26 pm

@#54 S.Bby
“DT Vancouver has been overrun with homeless people. There are crazy people and druggies all over now and many local drivers are dangerous maniacs. ”

++++

Strangely enough.
While Vancouver’s Downtown East side squalor gets most of the media attention because its a drug infested hell hole.
The majority of safe injection sites are there.
Which have probably saved countless lives.
Unfortunately.
Most of the Overdose deaths are , middle aged, single men , home alone, all over the Lower Mainland..
More safe injection sites…downtown or in Surrey….arent going to solve the problem.
Because most IV drug users( 90 %? 80%?) don’t want anyone to know….they’re IV drug users.
So they avoid the Safe Injection sites.

911 is busier than ever.

#68 mark on 07.18.21 at 7:26 pm

The opening will be short lived, double vaccinated people 50 percent still getting sick, as per Dr John Campbells YouTube site and data links. This will be constantly evolving with getting sick, getting better.

#69 Rogerhomeinspector on 07.18.21 at 7:34 pm

I work in trades.

The talk has already begun in employee circles. If I have to actually go to work and have the inconvenience of being away from family and absorbing all the cost associated with actually having to go to work- we want more money for the effort.

I think a lot of people like the WFH idea because it really helps their bottom line. I think others will note this and inflate service costs.

I’d also say this will put upwards pressure on trades costs because there’s an even more attractive alternative. When your choice is showing up and working in less than ideal conditions doing trades work or sitting on your couch scratching your pooches back, this is going to help divert even more labour from the trades. Fewer trades will equal higher prices.

I feel this is going to be a zero sum game in the end. Ya, you get to work from home but your employer will want to reduce your compensation and your costs in other areas will increase.

Longer term, I think there will be a lot of unintended consequences.

#70 crowdedelevatorfartz on 07.18.21 at 7:37 pm

@#61 Ponzies Priceless Profits
“So, you guys are saying that tax lawyers and tax accountants really don’t provide mich value to an enterprise.”

++++

Nah.
I’ve never said that.
What i suggested was.
Get rid of the tax lawyers and accountants that only the rich can afford to find loopholes.
A Flat tax for everyone.
Rich, poor.
Everyone pays 10%.
A billionaire pays 10% and a pauper pays 10%
Fair is fair.
Or we keep going the way were going and the torches and pitchfork mobs come for us….
I dont think its a coincidence that Buffet, Gates, etc etc etc are giving away billions .
They are worried about how they are perceived.

…..and the tax right-offs are awesome!

#71 oops on 07.18.21 at 7:39 pm

social animals who evolve, right?

Could your team earn more…I mean, if you wanted to?

#72 crowdedelevatorfartz on 07.18.21 at 7:40 pm

@#56 Ponzies predicament
“So, because of one person’s greed, two people lost their job.”

+++++

I wouldnt say it was greed.
They already had the job.
They were just lazy.

Gen Z? Mill?

#73 Nonplused on 07.18.21 at 7:43 pm

Garth on #25 Millennial Realist on 07.18.21 at 2:06 pm

“Google kiddos aren’t Boomers. But you never miss a chance to be ageist. Say, how if that different from being misogynist, or racist?”

It turns out that there is a lot of rampant discrimination still going on out there. It seems that all that has changed is that if you can identify as a member of a particular group that has experienced or is experiencing discrimination, it is now acceptable to discriminate against other groups.

For example, many universities in the US (I don’t have info on Canada) are now limiting enrollment by people who identify as of Asian ancestry, for “diversity” reasons. Turns out those Asians have a culture that emphasizes hard work and education success, so they are doing too darn well on the SAT and other admission metrics, as compared to other cultural groups including people of European decent. Solution? Put a cap on Asians. How is that not discrimination based on race???? Many of these people were born in American and can hardly speak their ancestor’s tongue. They are as American as apple pie but happened to be subjected to an upbringing where an A- wasn’t good enough. Maybe that is something that it would do the rest of us well to “culturally appropriate”.

I watched a Tucker Carlson clip from some 4 years back and also read the related articles. Basically there was a big uproar because a certain university professor, white of course, refused to observe a “white free” day on campus because he had a class to teach, regardless of the color of his students. There was a protest and the campus police had to get him out the back door, through the tunnels or something. He got fired and settled for $500,000. How is this not racism?

Of course the protestors also demanded and received an extension on all their assignments to make up for the day of protest and not having their white professors on campus.

Ageism is also one of the new things. There was a day when you couldn’t be considered for leadership positions unless you had significant experience. They wanted people who had learned from their mistakes or at least had observed a few mistakes made by others so they knew what not to do. Now it is much more important that you tick off certain diversity boxes. How is that not ageism and racism?

For folks like Millennial Realist, I would like to remind you that when I was your age I had a beat up old truck and a student loan and a degree. Nothing else worth mentioning. But eventually the older folks move on to greener pastures in the sky and your turn comes. That’s why it hurts our ears and eyes so much when you whine. We really didn’t have it any better, in fact actually much worse. There was no Netflix or cell phones back then. No internet. Computers were shared or for the rich, if you had access to one at all. A 32 inch CRT TV was a big deal. It wasn’t a time of rampant wealth compared to today. Everyone was watching their pennies. Growing up, we ate KD, hot dogs, Hamburger Helper, and potatoes. Lots of potatoes. Sometimes pork chops with potatoes. There was no such thing as Starbucks and if there was few could afford it. Tim Horton’s did not have a double wide storefront with lineups in the student building. Coffee was $1 and you bought it from campus food services. And it was crap.

And yes, houses were expensive. My starting salary as an engineer in training: $32,000/y. My first house: $175,000 (and it wasn’t much). What’s the ratio on that? 5.5. And interest rates were 3-4%.

So quit whining. Minimum wage was never a living salary, but it could help you get through school if you were living in your parent’s basement.

Times have not changed.

#74 Madchild on 07.18.21 at 7:44 pm

Anyone in a baller home isn’t wanting to go into any office. Infinity pool with a swim up bar over looking the ocean is my office.

The survey respondents are basement dwellers desperately wanting to flee the radon and lack of air conditioning of their run down rental converted into a WFH office that steals 50% of the pay cheque. This is the cohort of 39 years and younger.

Unless the office is on a Cayman beach near Raoul Pal I am not participating.

#75 Russ on 07.18.21 at 7:47 pm

mike from mtl on 07.18.21 at 1:31 pm

NYC for example is several months ahead of us being normal, so far the service & retain industry is bouncing back nicely. However the traditional business and related activities is still grim.

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

Hi Mike,

That’s what I see too.

I got back to Nanaimo Yacht Club on Friday and it’s been busy all weekend…

maybe even busier than normal, in other years.

Cheers, R

#76 New Survey Finds on 07.18.21 at 7:52 pm

…that 81% of people do not like their job and 93% do not like their co-workers in person.

Work from home is the only amicable way to bring people together now.

I also just read a report that most of the CEO’s being recruited in Canada are working remote in the US because Toronto and Vancouver is such a ripoff. The only thing that has them considering stepping foot in a Canadian office is a negotiated coverage of living expenses as part of the pay package.

Get up to speed with technology and work from home and your talent pool opens up substantially.

#77 crowdedelevatorfartz on 07.18.21 at 7:56 pm

@#64 Ponzies presumptions
“The “Lords of the round Ball” FIFA had the final say on whether the Soccer stadium in Munich was allowed to display the rainbow colors on its roof, during the last EURO.
And you will be pleased to hear that they did not allow it.”

+++

Why would you assume I would be “pleased”?

I couldnt care less what color they paint the roof.
Paint it Black to please BLM.

Couldnt care less.

I’m a business man.
Certainly (sadly) not in the league of the FIFA Owners/Billionaires
Perhaps the FIFA mandarins decided that splashing rainbow paint on the roof to appeal to 2-3% of the worlds population that is statistically gay ……… wasnt worth it?

I mean if we’re talking money, advertising and huge contracts.
Do you appease to the 97% or 98% of your audience that isnt gay or the 3% that IS gay.
You’re an accountant.
You do the math.

#78 VladTor on 07.18.21 at 7:57 pm

…. In an interview last week bank economist Benny Tal forecast a big pop in DT condo sales and prices, and he’s not alone.

************
Never ever trust economist like Benny Tal. Remember 2008! In USA just a month before crash one of the more well known economists (brilliant USA copy of our Benny Tal) in media publish analyze in which he told that USA RE market very strong and everybody, not brilliant economists – those that are of a weaker rank – gold and silver, supporting his opinion. Message was simple …buy…buy…buy… if you are not idiot. You know what happened just month after.

Now situation is dramatically worse after nonstop QE and printed money – crash will be epic!

500 feet for 700k – you will be TD, BMO etc. slave rest of your life.

The ‘economist’ who made that remark was an employee of the National Association of Realtors. Google. Try it. You time is done here, Vlad. – Garth

#79 The Great Resignation on 07.18.21 at 8:00 pm

Ever hear about the great resignation?

You will receive a resignation letter from your employee if you force them back into the office.

It is coming to a business centre near you.

Now that being able to work from anywhere is proven, companies are going to have to accommodate if they want to keep top talent.

This isn’t the 90s anymore. This is just another chapter in the never ending change and evolution of business.

And we know what happens to businesses resistant to change.

#80 Nonplused on 07.18.21 at 8:01 pm

#49 Linda on 07.18.21 at 5:09 pm

“The thought of paying $700+K for a condo that may only be some 600 square feet in size is like a horror movie.”

There are only 3 things that matter in real estate: “Location, location, and location”.

All of the other factors pale in comparison. “$80,000 for a new kitchen??? OMG!” Well, no, if it is within walking distance to work. That’s one less Tesla you have to buy.

#81 When Will They Raise Rates? on 07.18.21 at 8:03 pm

And I agree, the re-opening may be short-lived… This fall/winter is goong to be a s#*% show.

That’s my base case, I’m hedging accordingly.

#82 Love_The_Cottage on 07.18.21 at 8:15 pm

Big cities are not for everyone… Human nature has not changed. We’re social animals.
______
True. For me, small towns are where you are more likely to get to know your neighbour, your grocer and your restauranteur. I’ll pass on the big city, nothing social about it.

#83 Nonplused on 07.18.21 at 8:17 pm

#56 NSNG on 07.17.21 at 11:51 pm
#48 Nonplused on 07.17.21 at 8:48 pm

So, “cold hard capitalism” requires companies to either charge more or go broke? Personally I think companies with tight profit margins are good for consumers. Millions of Walmart shoppers can’t be wrong. The less Walmart has to pay in taxes the less they have to charge me for whatever crapola I’m buying there. Because ultimately, I’m paying the taxes, not Walmart. It is hidden in the price.

So if you are making a loss you expect taxpayers to pick up the rest even though, unlike the customers, they get no benefit from the business? If the profit margin is tight why wouldn’t people support it, unless the product they are buying is frivolous and no truly needed? If so, why should taxpayer scarce dollars be required to subsidize those losses?

—————————————

I don’t think you are following me. My point is that if there is no profit there is nothing to tax. A loss making company is already in lots of trouble without additional taxes.

#84 Sheesh on 07.18.21 at 9:24 pm

#66 When Will They Raise Rates? on 07.18.21 at 7:18 pm

Thanks for confirming:
‘But if you ask whether we should perhaps question the single solitary source of information they choose to believe in the face of overwhelming consensus to the contrary they lose it.

I think it’s probably just people who feel that they have no control in their lives so the idea of being the only one who knows “the truth” gives them some feeling of power. It makes them feel special. A wolf among sheep’.

Nail on head, Soggy

#85 crowdedelevatorfartz on 07.18.21 at 9:43 pm

I was working on an emergency repair Saturday night.
The tradesman I had to help was talking about his retirement in 5 years or less.

He has a union pension that has been reduced twice because, “The company that handled the pension for over 30 years…..lost money”.

So I asked him if he had any money personally invested for retirement.
“Yup, about 400k.”
RRSP’s? TFSA’s? I asked.
“Yeah but we just used our TFSA money to buy a Lexus with all cash …..for the wife….because I dont like debt…….”

I stopped asking questions…..

#86 TurnerNation on 07.18.21 at 10:01 pm

No Boss we absolutely cannot go back, with the Deadly Delta Variant rampaging around the world.
In fact here’s a note from my Doctor that, due to my currently health status it is recommend that I remain working at home.

………………….

— If you haven’t figured out that all this is about control… and Chaos. This global reset will be here till at least 2025.
(But the hospital capacity guys, the capacity!!)

https://www.macleans.ca/news/will-canadians-need-covid-booster-shots/
“On April 23, Prime Minister Justin Trudeau announced that the federal government had “reached an agreement with Pfizer for 35 million booster doses for next year and 30 million in the year after. This deal includes options to add 30 million doses in both 2022 and 2023 and an option for 60 million doses in 2024.” He said that Ottawa was “in ongoing discussions with other vaccine manufacturers about their plans for booster shots, too.””

—————–

— CV = control. Control over our breeding. Is there anything it cannot do?

https://nypost.com/2021/07/18/athletes-to-sleep-on-anti-sex-cardboard-beds-at-olympic-games/
“The world’s best sports competitors are set to spend their nights on cardboard beds — allegedly designed to collapse under the weight of fornicators to discourage sex amid COVID-19.”


— No this global system of control will not be going away.

.COVID: Entrance of vaccinated to Israel postponed again amid outbreak(jpost.com)

.Official reportedly warns lockdown could be ordered for Rosh Hashanah (timesofisrael.com)

.Israel toughens COVID restrictions as delta infections rise(haaretz.com)

#87 NSNG on 07.18.21 at 10:08 pm

#83 Nonplused on 07.18.21 at 8:17 pm

I don’t think you are following me. My point is that if there is no profit there is nothing to tax. A loss making company is already in lots of trouble without additional taxes.

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

A revenue tax may or may not affect a situation like that. Because it captures tax from a broader base of businesses, it should invariably be lower and there wouldn’t be a profit tax on top of that. It would be more like a fee to run your business similar to fees you already pay, just not up front.

Businesses already pay for a license, rent a building, buy material, and hire employees before they can even turn a profit. The revenue tax would be after those expenses but before they turn a profit.

Since everyone would be paying it and not hiding profits in expenses, it should be much lower than what business taxes are now.

Whether they turn a profit is immaterial to the conversation because they are in the same boat as every other business in Canada in that regard. It’s a level playing field upon which all must compete. Turn a profit, raise prices and risk losing customers, or die.

For example, would a bank make a loan knowing they can’t write off the loan loss against past or future profits? Would they be lending at 10X income or would they maybe charge a higher interest rate or put the borrower under much stricter scrutiny knowing they can’t use the loss to lower their tax liability?

#88 TurnerNation on 07.18.21 at 10:16 pm

!! Video of UN Armoured vehicles parked in Toronto.
Maybe they are just in there for an oil change…”lol”

https://old.reddit.com/r/censoredreality/comments/on0j1s/indieladyx_un_presence_in_canada/
“440 Garyray Drive is owned by Apotex: https://www1.apotex.com/ca/en/about-us/about-apotex
Apotex makes medical drugs.
Apotex was founded by Dr Barry Sherman, the same guy who was found murdered under very mysterious circumstances, along with his wife Honey Sherman, in their mansion back in Dec 2017: https://en.wikipedia.org/wiki/Barry_Sherman

#89 Father’s Daughter on 07.18.21 at 10:22 pm

#82 Love_The_Cottage
True. For me, small towns are where you are more likely to get to know your neighbour, your grocer, and your restauranteur. I’ll pass on the big city, nothing social about it.
__________________________________________

There is everything social about big cities. I grew up in a small town, which was mostly friendly. I now live in Toronto, where my neighbourhood is like a small town. Very easy to make friends. I don’t leave my house without running into people that I know. My neighbours spot sugar or eggs, drop off clothes for my kids, shovel my driveway. We know the fishmonger, our mail lady, the butcher, our coffee shop baristas, etc etc. I agree that the city is not for everyone, including maybe not even for my family long-term. The hostile city culture filled with cold and busy people is a myth. Grossly unaffordable, yes, but unfriendly and antisocial, no.
Do love the cottage though.

#90 WFH Edmonton on 07.18.21 at 10:29 pm

I would love a post/survey here to see what everyone’s company is doing in terms of WFH. I don’t hear the same things in my industry.

In Edmonton at Stantec (ya know the big tower) in my group we were given a choice a couple of months ago. 5% or less chose full-time at the office, 70% chose part time, 25% chose full-time at home. I can tell you that has changed to 5%, 35% and 60%. The more people work from home the more they seem to like it in my workplace. Our company is still letting us have the choice so we’ll see how it goes. Even the head manager doesn’t want to come in but feels like he/she need to to keep up an appearance. Strange world.

More importantly the part-time ONLY works if the majority of your group shows up the same day you do otherwise how is this supposed collaboration supposed to happen?

We have reduced our entire office footprint by almost 40%. What is everyone else doing across Canada? I’m curious.

#91 Dr V on 07.18.21 at 11:46 pm

61 Ponz – sorry. I should have pasted the concept. Here it is from SA’s comment

“Something that many people confuse is the term ‘write-off’. It means that you pay for something, then get to deduct a small portion from taxes. You still pay for it- …”

Yes I have an accountant to do my (former) partnership
my professional corp and my personal tax. No tax
lawyer though.

#92 Leo Trollstoy on 07.18.21 at 11:48 pm

4 year olds know that “truth” is subjective

#93 Dr V on 07.18.21 at 11:57 pm

87 NSNG

“Businesses already pay for a license, rent a building, buy material, and hire employees before they can even turn a profit. The revenue tax would be after those expenses but before they turn a profit.”

How about computers, other business equipment, vehicles? Just as much required as the rent depending on the business.

And if I invoice someone, and they don’t pay, how is that “revenue”? My accountant would write off any
debts longer than 90 days. We had another income stream “bad debt recovery” if the money ever came in.

Sounds to me that your issue is simply what is allowed to be written off. don’t throw the baby out with the bathwater.

#94 Hairhead on 07.19.21 at 12:02 am

Had an interesting conversation with a senior technician at the huge multinational TECK corporation. He’s been working entirely from home for 16 months. In a couple of months he will be back, not at the office, but visiting work sites throughout the world, then reporting from home.

So far, so good.

The more interesting thing he told is, “The internal combustion engine is dead.” He reports that TECK and other large companies are planning a complete changeover to electric motors for almost all their facilities and physical plant.

The big corporations lead the way.

#95 Nonplused on 07.19.21 at 12:13 am

#87 NSNG on 07.18.21 at 10:08 pm
#83 Nonplused on 07.18.21 at 8:17 pm

I don’t think you are following me. My point is that if there is no profit there is nothing to tax. A loss making company is already in lots of trouble without additional taxes.

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

A revenue tax may or may not affect a situation like that. Because it captures tax from a broader base of businesses, it should invariably be lower and there wouldn’t be a profit tax on top of that. It would be more like a fee to run your business similar to fees you already pay, just not up front.

Businesses already pay for a license, rent a building, buy material, and hire employees before they can even turn a profit. The revenue tax would be after those expenses but before they turn a profit.

Since everyone would be paying it and not hiding profits in expenses, it should be much lower than what business taxes are now.

Whether they turn a profit is immaterial to the conversation because they are in the same boat as every other business in Canada in that regard. It’s a level playing field upon which all must compete. Turn a profit, raise prices and risk losing customers, or die.

For example, would a bank make a loan knowing they can’t write off the loan loss against past or future profits? Would they be lending at 10X income or would they maybe charge a higher interest rate or put the borrower under much stricter scrutiny knowing they can’t use the loss to lower their tax liability?

————————————

Look dude, what you are proposing is no different than the GST. Should we raise the GST? Perhaps. But we don’t need a duplicate mechanism.

Folks, there are no avenues for taxation that have not already been explored. Your idea is not new, and it won’t raise tax revenue. Old Solomon was right, “there is nothing new under the sun”.

#96 Ponzius Pilatus on 07.19.21 at 12:37 am

Australia is taking COVID restrictions seriously.
Good on them.
https://www.richmond-news.com/the-mix/australia-to-deport-commentator-hopkins-for-quarantine-boast-3965808

#97 Robert Ash on 07.19.21 at 3:33 am

Artic Fox; Thanks for the Link, a good call on what has been going on, and will be the shape forward.

#98 Dharma Bum on 07.19.21 at 7:16 am

The people lamenting the fact that WFH is sooooo over are the same creeps who are disappointed that COVID’s over too.

You know, those weirdos who wear masks outside, wear plastic gloves, bathe in hand sanitizer every chance they can, double and triple mask, move to the other side of the sidewalk when someone approaches, cover at home, listen to 680 News, talk about the Delta variant, the third wave, positivity rates, ICU capacity, and are addicted to anxiety.

#99 IHCTD9 on 07.19.21 at 7:55 am

#39 Wrk.dover on 07.18.21 at 3:54 pm
#75 IHCTD9 on 07.18.21 at 11:12 am
#62 Wrk.dover on 07.18.21 at 6:06 am
#157 IHCTD9 on 07.16.21 at 2:59 pm

I see. Well, a 4.3 Astro Van ain’t getting 24 mpg (USG) every day, not a chance. Flat ground, tailwind, and trying real hard? Maybe. They’re rated at 20mpg hwy and 17 combined (USG) – pretty much exactly what I would have guessed, if I didn’t look it up.
______________________

We’re in Canada, as I stated 24 mpg. I have only ever done the math on the credit card slips driving home from AZ and then converted it to CDN. Yes, 20 miles per US gallon. 85 mph into central Texas, 75mph to the Mississippi, 70 the balance of the trip. 700lb load plus two people. 13 years on, the van after initial rehab, owes me $4000 now, sitting on new tires with new big battery.

You always doubt me. Just trying to help Brah.
———-

I don’t doubt 20 mpg Imperial gallon.

Most of us older Gen X’ers who were off and running in the workforce prior to the arrival of the Internet never even heard of the Canadian gallon. We had a metric education and always bought fuel by the litre. To me, a gallon has always had 3.78.

I hope to also measure my fuel mileage on a return trip from AZ someday too, with a “new to me” rock solid old vehicle in tow. Years ago I bought a Bronco that was fresh from AZ, the interior was burnt to a crisp, the carpet never stopped yielding sand, and the frame/body condition was downright unbelievable. 30 year old original brake lines in mint condition. It’s gone now, but I do need another old truck from the desert :)

#100 jess on 07.19.21 at 8:22 am

This is Public Health, A Canadian History
is an on-line, interactive resource suitable
for a broad audience and available as a
free download at cpha100.ca

https://www.cpha.ca/sites/default/files/assets/history/book/exec_summ_e.pdf

#101 crowdedelevatorfartz on 07.19.21 at 8:39 am

@#96 Ponzies pedantic presumptions
“Australia is taking COVID restrictions seriously.
Good on them.”

+++++

Spare me.
Australia is deporting Hopkins because she’s a noted anti vaxxer who has arrived in the country bragging online that she would flaunt the quarantine rules.

She’s not a citizen of the country, she’s mocked the Govt in the media , so basically, she’s a self important idiot and the govt has finally had had enough of her online bs.
I’m amazed at the Aussies level of patience.
They should have refused her entry when she landed.
Gone.
On wonders if her employer will do the same when she arrives back in Limeyland.

#102 Kitty Kaboom on 07.19.21 at 9:05 am

As a previous Bay Streeter — CIBC [ ] looks pretty nifty! Will take some getting used to seeing grass on the train shed!

#103 Jesse on 07.19.21 at 9:36 am

In that Google survey 3/4 of employees want to go back to the office… one day a week.

Everyone I know does not want to go back to work full time. Why waste 2hrs a day commuting (btw you aren’t paid for this). Why would anyone want to return to work full time. I don’t know anyone that works in a “creative” job that needs to be around people. Most corporate jobs are rigid work processes that can’t be bent. Being around other people is not required. Stay home guys, unless they incorporate your commute time into your working hours.

#104 Ponzius Pilatus on 07.19.21 at 10:31 am

#92 Dr.V
And if I invoice someone, and they don’t pay, how is that “revenue”? My accountant would write off any
debts longer than 90 days. We had another income stream “bad debt recovery” if the money ever came in.
——————————
Bang on.
When I look at the Financials, I look at Accounts Receivable and Cash first.
Many owners bragging about their revenue.
It’s never revenue until it’s safely in your bank account.
90 days seems a little early, but I don’t know the business.

#105 Diamond Dog on 07.19.21 at 10:32 am

There’s certainly an incentive for Google to reign in employees from WFH. Productivity will improve. From what I’ve heard and read, productivity is down from 10 to 20% depending more than anything I think, the quality of hires. It’s not just productivity though, its the long term that matters more. I’m presuming, but likely correctly that employee turnover will increase with WFH over time. WFH employees have a unique set of managerial challenges one would think, so there’s definitely incentive for corporations to fill up offices again.

That being said, there is a possibility of Covid19 derailing the economy again with the Delta variant. The virus has become more efficient, replicating faster and spreading more easily through airborne transmission. Faster replication means a quicker viral load hitting the system meaning leading to a more virulent outcome, so it’s effecting younger people more seriously now. I don’t see this as a major problem in Canada as vaccination rates have been quite high with 69.486% of the nation receiving at least 1 dose:

https://covid19tracker.ca/vaccinationtracker.html

In the U.S. however, only 55.7% of the U.S. population has received one dose:

https://www.nytimes.com/live/2021/07/18/world/covid-variant-vaccine-updates

This U.S. number is a bit misleading, as 35 million people in the U.S. have come down with Covid19. This number doesn’t include asymptomatic cases which would be double this number so at least 20% of the U.S. population has immunity from already catching Covid19. The threat is gone for the time being except for states with a low vaccine participation rate. There are some laggard states with lower vaccine rates due, most likely, to misinformation:

https://usafacts.org/visualizations/covid-vaccine-tracker-states/

Where Covid19 can make headlines again, is when vaccines wear off. Pfizer’s vaccine was lab tested in Israel with results of their vaccine efficacy initially claimed @ 94% (with 20 cases) as now 64% effective against the Delta variant:

https://www.dailymail.co.uk/health/article-9796589/Israel-saus-Pfizers-COVID-19-vaccine-significantly-effective-against-Indian-Delta.html

Combine a much lower efficacy against the Delta variant with the reality that these vaccines fade over time as the virus mutates and disguises itself and a different economic risk picture emerges, the main risk coming from higher vaccine rates tapering off over time as people become complacent or suckered by misinformation campaigns (for example, “the vaccine doesn’t work”).

https://en.wikipedia.org/wiki/Error_catastrophe#Applications_of_the_theory

As mentioned in the past, vaccines are best taken in the fall with the latest vaccine updates accounting for mutations ready to hit the masses with the hope of reasonable coverage over 2 flu seasons. We’ll get there as we have with flu shots, but there could be some bumps and hiccups until herd is on the same page.

Worth a mention, Covid19 still poses a threat due to ADE. As long as Covid19 doesn’t mutate into a second strain with a different Serotype, ADE shouldn’t be a problem but if a second strain with a distinctly different serotype were to develop, we would have a pandemic 2.0 all over again and the second would no doubt be worse than the first.

https://en.wikipedia.org/wiki/Antibody-dependent_enhancement

The process is human to animal to human transmission. For example, a human farm worker on a mink farm infects minks which in turn reinfects the worker with mixed DNA creating a new strain with a distinct Serotype from the original strain. Examples of this would be the Dengue virus (4 strains with separate serotypes) and the way to stop a second strain emerging would be a new vaccine or a combo of vaccines to work on both strains, updating them to account for mutations just like flu shots. Until then however, it would be pandemic 2.0 and that threat is still possible considering global numbers are back on the rise:

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

#106 Shawn on 07.19.21 at 11:13 am

Monetarism Failed?

#4 Quintilian on 07.18.21 at 12:27 pm

It seems to be universally agreed that monetary policy has failed.

**********************************
Failed for whom? You forgot to buy the assets that benefited?

Central Banks (whose opinion counts a bit more than yours) are not part of your “universally agreed” group?

I won’t opine on whether ultra low interest rates are more harmful than beneficial but there sure is no universal agreement on that or other aspects of monetary policy, is there?

#107 Shawn on 07.19.21 at 11:19 am

Expensive eggs coming?

Fartz at 13 warned of $20 eggs.

Shoppers Drugmart PC Optimum rewards right now offers a dozen no name eggs for $1.79. Eggs are some of best value food you can find and that’s either in spite of or possibly because of the egg marketing board.

Egg cartel seems like an evil idea. Yet eggs are remarkable cheap. Generally easily found at $3.00 a dozen for large eggs. 25 cents each. Compare that to other food.

Gonna take a lot of inflation to change that.

#108 Sail Away on 07.19.21 at 11:58 am

#104 Ponzius Pilatus on 07.19.21 at 10:31 am
#92 Dr.V

And if I invoice someone, and they don’t pay, how is that “revenue”? My accountant would write off any
debts longer than 90 days. We had another income stream “bad debt recovery” if the money ever came in.

——–

Bang on.
When I look at the Financials, I look at Accounts Receivable and Cash first.
Many owners bragging about their revenue.
It’s never revenue until it’s safely in your bank account.
90 days seems a little early, but I don’t know the business.

——–

Most of our invoicing is through direct deposit payment portals these days. Submit the invoice and the sweet cash flows in right on schedule. Very little need to chase down ARs, although in the rare cases it’s needed it is done with intense focus.

That’s the way efficient and successful firms work, Ponz. Of course if everyone did that, you’d be out of a job. Hmmm… thinking of that, maybe we should start a ‘payments collection sector’ and hire out our services for 20% of collected fees.

#109 cuke and tomato picker on 07.19.21 at 12:19 pm

Looking at the market today July 19TH keep your money
in your front pocket.

#110 crowdedelevatorfartz on 07.19.21 at 12:20 pm

@#107 Shawn.
“Gonna take a lot of inflation to change that.”
+++

I see $5 and $6 a carton of eggs at the local grocery stores.

Give it time.

#111 Yuge Tesla Fan on 07.19.21 at 12:50 pm

Elon Musk Fan Support Group

https://youtu.be/YVXc63qKHKI

#112 Sail Away on 07.19.21 at 12:50 pm

#99 IHCTD9 on 07.19.21 at 7:55 am

I hope to also measure my fuel mileage on a return trip from AZ someday too, with a “new to me” rock solid old vehicle in tow. Years ago I bought a Bronco that was fresh from AZ, the interior was burnt to a crisp, the carpet never stopped yielding sand, and the frame/body condition was downright unbelievable. 30 year old original brake lines in mint condition. It’s gone now, but I do need another old truck from the desert :)

———

Maybe G. Hayduke will have an old jeep for you.

Some quotes:

“One man alone can be pretty dumb sometimes, but for real bona fide stupidity, there ain’t nothing can beat teamwork.”

“I am against all forms of government, including good government.”

“If God meant this here bulldozer to live He wouldn’t of filled its tank with diesel fuel.”

― Edward Abbey, The Monkey Wrench Gang

#113 Love_The_Cottage on 07.19.21 at 12:53 pm

#107 Shawn on 07.19.21 at 11:19 am
…eggs are remarkable cheap.
Gonna take a lot of inflation to change that.
______
And in Mississauga there is a pilot program to allow backyard chickens. If the price went up this could become more common.

#114 IHCTD9 on 07.19.21 at 1:20 pm

#104 Ponzius Pilatus on 07.19.21 at 10:31 am
#92 Dr.V
And if I invoice someone, and they don’t pay, how is that “revenue”? My accountant would write off any
debts longer than 90 days. We had another income stream “bad debt recovery” if the money ever came in.
——————————
Bang on.
When I look at the Financials, I look at Accounts Receivable and Cash first.
Many owners bragging about their revenue.
It’s never revenue until it’s safely in your bank account.
90 days seems a little early, but I don’t know the business.
— —-

I think 90 days is when the bank no longer considers it a receivable, and it affects how much you can borrow.

I *had* a US customer that stated their standard terms at Net-120. Uh, no thanks. Usually 45 days and up get phone calls.

#115 Quintilian on 07.19.21 at 1:28 pm

#106 Shawn

“I won’t opine on whether ultra low interest rates are more harmful than beneficial but there sure is no universal agreement on that or other aspects of monetary policy, is there?”

The universal agreement is implied and confirmed by the trillions of dollars slated for fiscal stimulus.

#116 Love_The_Cottage on 07.19.21 at 1:41 pm

From a few days ago: “The pandemic is over.”
_____
Doctors don’t agree. Mr. Market doesn’t today either. I wish it were true, but that don’t make it true.

#117 Dr V on 07.19.21 at 2:17 pm

114 IHCTD9

“I *had* a US customer that stated their standard terms at Net-120. Uh, no thanks. Usually 45 days and up get phone calls.”

I always found that 45 days was a critical point. If too many accounts got past that, I wasn’t going to see my
draw.

Got phone call one time from a building inspector who turned out to be a former architect. This was in the late 90s IIRC. I asked him why he gave that up. He said he got

1) tired of working to get the work
2) tired of working to do the work
3) tired of working to get paid

#118 IHCTD9 on 07.19.21 at 2:23 pm

#108 Sail Away on 07.19.21 at 11:58 am
#104 Ponzius Pilatus on 07.19.21 at 10:31 am
#92 Dr.V

And if I invoice someone, and they don’t pay, how is that “revenue”? My accountant would write off any
debts longer than 90 days. We had another income stream “bad debt recovery” if the money ever came in.

——–

Bang on.
When I look at the Financials, I look at Accounts Receivable and Cash first.
Many owners bragging about their revenue.
It’s never revenue until it’s safely in your bank account.
90 days seems a little early, but I don’t know the business.

——–

Most of our invoicing is through direct deposit payment portals these days. Submit the invoice and the sweet cash flows in right on schedule. Very little need to chase down ARs, although in the rare cases it’s needed it is done with intense focus.

That’s the way efficient and successful firms work, Ponz. Of course if everyone did that, you’d be out of a job. Hmmm… thinking of that, maybe we should start a ‘payments collection sector’ and hire out our services for 20% of collected fees.
—-

I think collection agencies charge more like 40%. Bubba with a baseball bat is 50%.

#119 NSNG on 07.19.21 at 2:32 pm

#92 Dr.V
And if I invoice someone, and they don’t pay, how is that “revenue”? My accountant would write off any
debts longer than 90 days. We had another income stream “bad debt recovery” if the money ever came in.

This is all theory of course (and as Yogi Berra would say, “In theory, theory and practice are the same, in practice, they aren’t.”). It is just up for debate and I know it is never going to happen.

That said, if you haven’t collected any revenue, then you wouldn’t pay taxes on it.

#120 IHCTD9 on 07.19.21 at 2:32 pm

#110 crowdedelevatorfartz on 07.19.21 at 12:20 pm
@#107 Shawn.
“Gonna take a lot of inflation to change that.”
+++

I see $5 and $6 a carton of eggs at the local grocery stores.

Give it time.
———

Boneless skinless chicken breast is nuts right now. I’m buying bone in today and will try my hand at deboning them myself. Less than 1/3 the cost currently.

I may try my hand at doing the whole bird too:

https://www.youtube.com/watch?v=2z7KU7WHr3M

#121 Inflation Guy on 07.19.21 at 2:37 pm

#115 Quintilian

The trillions in liquidity added by central banks and government spending has the backing of those who benefited, people like me, who owned RE and got a nice, fat, tax free gain. Thank you from the bottom of my wallet.

Now the people it has hurt, those on fixed incomes, like seniors, or the lower income groups that do not have much ability to demand higher wages, well those people don’t have much of a say, which is why you don’t hear from them too often.

The evidence is clear, income inequality has grown rapidly along with far too easy monetary and fiscal policy.

As a winner of the game, I don’t mind if it continues.

But I would never pretend it benefits anyone but the upper income, asset owning, leveraged class.

It’s done great harm to almost everyone else.

#122 Spanky on 07.19.21 at 2:40 pm

#92 Leo Trollstoy on 07.18.21 at 11:48 pm
4 year olds know that “truth” is subjective
+++++++++++++++++++++++++++++

Too bad CNN viewers haven’t reached that same level of awareness.

#123 IHCTD9 on 07.19.21 at 2:47 pm

#113 Love_The_Cottage on 07.19.21 at 12:53 pm
#107 Shawn on 07.19.21 at 11:19 am
…eggs are remarkable cheap.
Gonna take a lot of inflation to change that.
______
And in Mississauga there is a pilot program to allow backyard chickens. If the price went up this could become more common.
——

I have family in KW living right in town, they’ve raised birds and rabbits for years. Dad did chickens and turkeys when I was a kid – you need a big chest freezer for this plan.

A guy I work with has the whole deal for birds. Vacuum wrapper, and a defeathering machine he built himself. He goes through hundreds of lbs of birds per shot. 15-20 whole turkeys is easily 3-400 lbs. you have to like this stuff to do it though – both these guys and my Dad were raised on farms.

#124 Faron on 07.19.21 at 2:51 pm

#116 Love_The_Cottage on 07.19.21 at 1:41 pm

Mr. Market doesn’t today either.

Market pretty much ignores the news these days. All order flows.

Be careful with your perception of a “crash”. SPX has bounced off of the 50DMA repeatedly. Doing it again today. B+D smiling (relatively speaking).

#125 steve schmelzle on 07.19.21 at 3:01 pm

Google is bringing back 60% of work force for 2/3 days a week. 40% WFH permanently.

#126 Barb on 07.19.21 at 3:29 pm

“…eggs are remarkable cheap.”
——————————–
Our daughter sells eggs at $5.00/doz…free range chickens.
Cheap. Has a waiting list of people who want to be on the weekly customer list.

Wear boots when you visit *grin* her 5 acre hobby farm.

#127 Linda on 07.19.21 at 3:57 pm

#80 ‘Non’ – Being a practical type, I’d never spend $80K on a vehicle. Ditto kitchen. Read an article on what professional chefs recommend for home kitchens; what they themselves would want & what features they most value. One chef mentioned she wouldn’t spend $ on high end custom kitchens that would likely be replaced within a relatively short time frame. She recommended Ikea kitchens as they provided the ability to customize/ provide the latest look, had durability & were cost effective to boot. Took her advice & am still happy with the result 16 years later:) Tip: pay someone with the woodworking skills to assemble your kitchen & add finishing touches. Worth it!

#128 Sail Away on 07.19.21 at 4:30 pm

#119 NSNG on 07.19.21 at 2:32 pm
#92 Dr.V
And if I invoice someone, and they don’t pay, how is that “revenue”? My accountant would write off any
debts longer than 90 days. We had another income stream “bad debt recovery” if the money ever came in.

——-

That said, if you haven’t collected any revenue, then you wouldn’t pay taxes on it.

——-

Enough NSNG. It is clear to anyone who has or had a business that you don’t and haven’t.

Instead of spouting off, consider learning the exact ins and outs… or ask questions instead of ‘educating’ the folks who actually have businesses.

Response to your above: GST is payable by the company to the taxman upon invoicing. If the payment turns out to be nonrecoverable, it is possible to recoup the tax you have already paid, but a documented ‘collections’ procedure over a long time is needed. Big hassle. And you’re already out the $.

#129 Sail Away on 07.19.21 at 4:49 pm

#120 IHCTD9 on 07.19.21 at 2:32 pm

Boneless skinless chicken breast is nuts right now. I’m buying bone in today and will try my hand at deboning them myself. Less than 1/3 the cost currently.

I may try my hand at doing the whole bird too

——-

Noooo…

If you have a whole chicken, cook it whole and get all the benefit of the fat and bones.

Wipe a casserole dish with oil, season a full chicken and center it breast side up, surround with onions and cooked rice and any or all root vegetables, salt everything well and cook at 425 for 1 hr 30 min.

Don’t open the oven, don’t test it- just take it out after the time is up, pop the dish in the center of the table and go caveman.

#130 NSNG on 07.19.21 at 6:34 pm

#128 Sail Away on 07.19.21 at 4:30 pm

Enough NSNG. It is clear to anyone who has or had a business that you don’t and haven’t.

Actually, I am an independent contractor, so wrong again, clown.

He who is threatened by debate is threatened by the truth.

Time to pay your fair share

#131 Tasteless Chicken Guy on 07.19.21 at 6:44 pm

Boneless, skinless chicken breasts?

Just buy some cardboard, it’s cheaper and tastes better

#132 Sail Away on 07.19.21 at 7:23 pm

#130 NSNG on 07.19.21 at 6:34 pm
#128 Sail Away on 07.19.21 at 4:30 pm

Enough NSNG. It is clear to anyone who has or had a business that you don’t and haven’t.

——–

Actually, I am an independent contractor, so wrong again, clown.

He who is threatened by debate is threatened by the truth.

——–

Then for your own sake, you should learn these things.

It’s clear from your statements that there are several parts of business revenue and taxation that you don’t fully comprehend.

And to be clear, you’re not fostering debate, you are presenting unrealistically punitive tax scenarios and casting corporations as villains.

#133 westcdn on 07.19.21 at 11:19 pm

People make choices. The consequence may not be what they want. T2 is not my favorite but I have hammered on him enough. People have a different opinion from me.

Markets are retreating. I still hang tough, glad to have sold a few things back in June. I kept the divie payers and they seem to be ramping up. I used the cash to pay down my mortgage and line of credit. We will see how that works out. I wasn’t happy the bank could call me.

So I am looking at the markets sensing panic. I don’t set prices but I looking carefully. I passed on energy yet I might try again. Funny, my call options on BIR may pay big. Give me an inch, I will take a mile – taught to me by others.