Worries

Yesterday this pathetic, paleo (fully dosed) blog suggested WFH won’t last. Alas, few believe it. Or want to. A year-and-a-half of pandemic has bent a lot of minds. Values have changed. This is not temporary, they cry. It’s the new normal.

Many think careers are kaput. It’s a gig world now. There’s no employer or employee loyalty. So being visible in the workplace is as silly as striving for a pay increase or promotion that’ll just land you in another tax bracket. It will still be impossible to buy a house. You still won’t have a pension. What’s the point?

Perhaps it’s this ennui with the structure of the world that’s led to current social passions. Instead of tackling about the Two Huge Things that are likely to make the future hellish for everyone now under the age of 50 (unrepayable private & public debt, plus an angry climate) we’re focused on gender issues, pronouns and bad things people did a century ago. The tail is wagging the dog.

Reading blog comments (ugh) one gets the impression most people believe their employer has a responsibility to provide a salary and benefits (and maybe a retirement income) but they’re not obligated to go to the workplace in return. Like this:

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. Being around other people is not required. Stay home guys, unless they incorporate your commute time into your working hours.

Covid did this. You stay home on your own sked. Walk the dog. Care for kids. Shop. You get paid as normal. You fall out of the routine of ‘going to work.’ And then, 16 months later, you don’t want to go any more. Ever.

Has the pandemic killed our work ethic? Feels like it. The expectations of most people seem to be drifting further and further from reality.

Over the weekend this note arrived from a couple in BC. “Kudos for being so good at what you do,” read the perfunctory MSU, “and trustworthy at the same time!” Then this…

We live in the greater Vancouver area. My husband and I have savings (200K) sitting in the bank as we decide what to do. I am educating myself and have learned that dividend investment is very tax efficient so I am looking into that. We’re maybe late to the investment game because I am 48 and my husband is 49 but we are now ready to take action asap as my goal is to retire at 55 if I can make the numbers work.

WFH and FIRE (Financial Independence, Retire Early) have much in common. Both are the antithesis of corporatism, a linear career or the time-worn practice of taking personal identity from work. It’s looking at life as a collection of experiences rather than achievements or possessions. The pandemic reminded people of their mortality. That’s useful. Covid also led to the conclusion that income and financial stability are societal, human rights. That’s dangerous. They’re not.

So, here are a few things to chew on. (And no, the Van people with two hundred grand will not live out a happy retirement starting in six years. Sheesh.)

First, in a world sautéed in debt, neither your employer nor your country can be counted on to finance the rest of your life. The government largesse so much in evidence during the pandemic cannot last. Seriously, you need a Plan B. If you stop being an enthusiastic employee it could be at your own peril. If you withdraw from the workforce without a major pile of money, you will know regret.

Second, life is unpredictable. Look at what the markets were saying on Monday. The Trump legacy of anti-vax bravado is on full display with a new pandemic of the non-inoculated. Daily US cases have tripled in the last week with 98% of them among people who refused to be jabbed. Mr. Market is therefore concerned this could inhibit growth despite stellar corporate profits. So equities tumbled, bond yields collapsed unexpectedly and commodity prices fell. Just another reminder that boy scouts had it figured out long ago – be prepared.

Maybe it’s prehistoric to be grateful for a job, impress the boss, to crave advancement, put in overtime and build a career. Seems like it when employees eschew going back to the office. Or when the sole goal of investing is “not to work”. Or when people expect government to support them forever and scarcely glance at the fiscal storm clouds above.

But that’s virus thinking. Don’t fall for it. Unreal.

By the way, just heard the results of a corporate survey of my colleagues, nationally. Over 70% have voted to return to their desks. They must read another blog.

About the picture: “Just found out about your blog,” writes Antoine. “I love your take on the current economic climate. Here’s a photo of our pup that my girlfriend and I adopted a few months before the pandemic started. He’s a rescue from Tennessee that now calls Dartmouth, NS home. I’ll have to stop and say hi next time we’re down in Lunenburg.”

170 comments ↓

#1 BlogDog123 on 07.19.21 at 4:16 pm

My employer wants us all back…
One day a week to start, moving to more days very soon…
Based on case counts per country/office/region.

Creativity, spontaneous whiteboard brainstorming, all that are ‘needed’ to get people working well together.

Plus the boss needs to see if you’re a bullshitter, hard to see that with zoom avatar…

#2 cuke and tomato picker on 07.19.21 at 4:25 pm

Why did the markets drop today?

Read it. – Garth

#3 SunShowers on 07.19.21 at 4:30 pm

“First, in a world sautéed in debt, neither your employer nor your country can be counted on to finance the rest of your life. The government largesse so much in evidence during the pandemic cannot last.”

Or, people will realize that national finances do not behave the same as household or even corporate finances, and sovereign nations who print their own currency cannot realistically sauté themselves in debt in that currency.

Canada may have been among the most generous, but practically every nation (correctly) dialed up the national spending to contain COVID, and the sky didn’t fall down. Nothing happened. The world kept right on as before.

In addition to the tragic deaths, shuttering of local businesses, and general interruption of our lives caused by COVID, another downside is the creation conspiracy nuts who claim that COVID was an engineered virus deliberately released into the world by global liberal elite to move us all to MMT, because it’s actually accomplished that quite well.

#4 moh on 07.19.21 at 4:32 pm

Totally agree Garth we need the office back. Can’t wait for all the opportunity!

Also watched Friday Night Smackdown and they had fans! I think Covid is done!

#5 Penny Henny on 07.19.21 at 4:35 pm

#31 Flop… on 07.18.21 at 3:18 pm
Diary of a Government Worker.

Yours Respectfully,

Canada’s 7,067,844 person in charge…

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

Who died and moved you up to 7,067,844? Huh?

M47BC

#6 Scott on 07.19.21 at 4:35 pm

People will sort themselves out Garth. This was the case before covid, the lines will be more clearly carved out now.

I’ve got friends who chose a career which allowed them to work remote so they could travel or be out skiing every time there was fresh powder.

My aunt worked in sales “on the road” (aka from home) for the last twenty years. She was years ahead of her time and had (haS) a great gig. About ten years ago she said they would have to pay her twice as much to go do what she does sitting in an office. I think instead of employers paying a premium to motivate employees to come in, they will take a “PJ” premium off the pay for those who want to save years of their life and the gas/electricity/transit $ over the span of a career commuting.

Some jobs can’t allow people to work from home and they may need to pony up more $ to get people to serve their burgers or stock their shelves. That or maybe they’ll provide accommodations for employees to live at similar to a summer camp job or working up on the patch or in the bush. Who knows, time will tell.

To me the darker cloud looming over our heads is automation. It’s hard to know which jobs will afford a full career but I know mine is probably not one of them. Our flight deck of three went down to two with the rise of modern technology. It will no doubt be cut in half again in my life time, hope it doesn’t go fully automated before I’ve put away enough to live well off of.

#7 alexinvestor on 07.19.21 at 4:39 pm

That kind of job progression where companies take in someone to train them and expect to be paid back is likely gone forever. Companies expect immediate performance or you’re gone. There are very few companies with good defined benefit pensions left. Given this, why would companies expect loyalty from their employees ? If the company doesn’t satisfy you in terms of progression, or salary, etc … learn what you can and find another company that will ante up and leave. The company after all has already derived their benefit from your work. You owe them nothing and they owe you nothing.

This is even more prevalent in Asia. They work really hard, but employees will change companies at the drop of a hat (*not in Japan).

#8 Delayed Millenial on 07.19.21 at 4:39 pm

I can see what you mean Garth. I guess there’s kind of two tracks to this based on where you live. A lot of my friends in the GTA/GVA can’t afford to buy a decent place, or have kids/delay kids because of it. Cars are prohibitively expensive, so they cut down on wanting the newest slickest EV. They want a simple life, work as little as possible, and try to buy next to nothing. I think as long as cost of housing is this high, there’s no incentive to work hard to get promoted since you wont be much better off. I’m in a LCOL area and feel a bit more financially secure, so I can reach for a house/new car, so I have a bit more incentive to come to the office/impress everyone. Just my 2 cents

#9 I’m stupid on 07.19.21 at 4:40 pm

Well Garth we all know the best taxes are the ones someone else pays. The world just figured out that the best work is the one that’s done by someone else.

I hate my job… I never liked it but I like what it affords me so I continue to do it.

#10 ElGatoNerodeYVR on 07.19.21 at 4:40 pm

Aaah ,our favorite subject so let me provide the Boss perspective .
Please keep in mind I have managed from few to a few hundred employees and everything in-between in multiple companies. Ofcourse as people we are prone to failure and are biased towards our experience ,this is mine,I am sure others can share based on theirs.

10% employees are what we called Superstars – high engagement, high performance ,this group will never ever want to WFH,we appreciate and reward them the max we can , we trust them , minimal supervision, more on the supportive side ,they set their own goals
15% employees have good engagement and performance, some might want to occasionally WFH ,we reward them and trust them, a bit more supervision but nothing crazy, goal alignment mostly
50% average on everything they do , we tell them what to do and they do it at various levels of engagement, this is the crowd that loves WFH but we don’t really trust them to stay engaged and on track . Would require a lot of performance management if WFH
15% Low engagement , low actual performance, something always happens to them ,the victims ;hate “The man” think of themselves as Superstars, know everything and wonder why they are not being recognized for the hard work they do .Can’t teach them much as they know better than everyone…so every bit of feedback is being rejected. This is the group that refuses to go back into the office and threatening to quit if forced to. Please do quit and don’t let the door hit you on your way out. Not that you are bad people or unskilled, just you don’t fit in this particular organization you are working for; find a job you love and you will feel different.
10% The bottom , actively disengaged ,no need to waste time to elaborate, ofcourse they love WFH and would quit if forced and find another place to work, most of them have unfortunately 0 skills and should be on UBI realistically.

Now not all is lost so if you despair after reading the above ,Don’t, head instead to despair.com and crack a smile.

#11 Brian on 07.19.21 at 4:41 pm

“The Trump legacy of anti-vax bravado is on full display with a new pandemic of the non-inoculated.”

Wasn’t it the current VP who stated no to any vax developed under Trump’s administration.

#12 Eco Capitalist on 07.19.21 at 4:45 pm

If people don’t feel like they are getting ahead, they’re going to stop playing the game.

Tangent: perhaps we need an exchange program with Cuba? Canadians who feel the government should take care of everything are offered the chance to live in Cuba. In exchange, we get Cubans who want to escape such a system.

#13 Nic on 07.19.21 at 4:46 pm

” income and financial stability are societal, human rights. That’s dangerous. They’re not.”
Why not?
Also why should someone want to impress a boss and crave advancement when employees are so replaceable and wages have stagnated for years? This isn’t the 1970-2000, things have changed and getting ahead is not as simple as landing a job and climbing the corporate ladder, and NO it isn’t the fault of employees. Give your head a shake.

#14 yvr_lurker on 07.19.21 at 4:46 pm

I agree it is highly problematic for society when too many lose their drive to work hard to improve their situation and, instead, seek out only what the Gov’t can provide.
However, it is equally problematic for a society when the inequality gap between different generations of workers grows too fast owing (for one) to rapid increases in property evaluations in our major cities and now even smaller communities. Would be rather discouraging working even for Google in Toronto as a highly recruited Data Scientist knowing that an old 2M row house (which a bus driver bought in 1995) is way beyond my league, and the best I can hope for is a 600 sq ft box in the sky.

Huge inequalities only serve to forment discontent, to radicalize those who are left behind by the market and gig economy, and for others to largely drop out or wait for some large inheritance that may be coming their way at some later date.

Not the way it should be for sure…

#15 Victoria on 07.19.21 at 4:47 pm

Hi Antoine, I love your dog’s sweater. Very smart.

#16 SoggyShorts on 07.19.21 at 4:51 pm

#18 NSNG on 07.17.21 at 2:02 pm
#164 SoggyShorts on 07.17.21 at 4:24 am

Because at the end of the day, if all companies were actually paying taxes and not hiding profits, they would both be paying a lower rate than what they are paying now. Also, there would be much more money flowing through the economy.

*********************
I had to come back to this after a discussion with a friend highlighted just how broken your idea of taxation based on revenues instead of profits is.

Dave has a 1-man online consulting business.
Last year he had some minor computer/home office expenses and a bit of travel to meet clients.
Revenues: 300,000
Expenses: 10,000
Profit: 290,000

Ok, now please think of a number.
What would be a fair amount to give the government? Once you have that number please continue:

Steve has a little 8 table dinner with 1 waitress and he does the cooking.
Last year his rent and food and labor costs were the bulk of his outlay but he has excellent food and is starting to see some regular guests.
Revenues: 300,000
Expenses: 270,000
Profit 30,000

Jason opened up a small hardware store this year and had to buy quite a bit of lumber and tools to get it stocked.
Revenues 300,000
Expenses 500,000
Profit(LOSS) (200,000)

Again, do you really think Dave and Steve should pay the same in taxes? Dave in the top 1% of income and Steve who made less than minimum wage? How about Jason who is already in the hole with his significant bank loan?

#17 kommykim on 07.19.21 at 4:52 pm

RE: So being visible in the workplace is as silly as striving for a pay increase or promotion that’ll just land you in another tax bracket.

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

I remember being told while at my 1st real job, “Oh you don’t want a pay raise because that’ll put you in the next tax bracket and you’ll actually earn LESS.”
But in those days I did my taxes with pen and paper and knew the tax system didn’t work that way. People still fall for it though.

#18 kommykim on 07.19.21 at 4:55 pm

RE:#11 Brian on 07.19.21 at 4:41 pm
“The Trump legacy of anti-vax bravado is on full display with a new pandemic of the non-inoculated.”

Wasn’t it the current VP who stated no to any vax developed under Trump’s administration.

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

No, she just didn’t want any of Trump’s hydroxychloroquine.

#19 Doug t on 07.19.21 at 4:56 pm

My Dad and Uncle worked at GM during the 60’s , 70’s , ‘80’s (Uncle into90’s) – they grabbed as much overtime as they could get – weekends, 12 hr shifts etc – not so much “work ethic”, but they needed to feed and provide for their families – a life of work is a hard life – I don’t really blame anyone trying to live a life differently, just don’t expect me to foot the bill

#20 Ponzius Pilatus on 07.19.21 at 4:59 pm

#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.
————– 
I know, every business and circumstance are unique.
Sailo does not get that.
Many times they other guy has to sell the product, ore finish his project before he can pay you.
Sometimes, the sales guys get carried away and sign a stupid deal, that accounting then has to sort out.
A/R is a pain in the neck, often you gotta beg for payment.
A/P is fun, you got the other guy begging for payment.
Utilities get always paid first, they sit in the drivers seat.
It does not matter how much you automate things.
When the other guy  can’t or won’t pay, you gotta deal  with it mano a mano,
as Don G. would say.

#21 Brian Ripley on 07.19.21 at 5:00 pm

My chart of the June 2021 TSX INDEXES for Energy, Real Estate, Financial Services, Gold and the Bank of Canada Commodities in $CAD is up:
http://www.chpc.biz/tsx-indexes.html

The Crude Oil price contraction of April 2020 and the early days of the Covid lockdown produced the historic futures market low of a negative print of USD $-37.63. The TSX energy sector downtrend since the manic high of July 2008 is inside a 13 year downtrend channel.

Today’s action extends the downtrend.

As I noted in my May 21, 2021 post:
http://www.chpc.biz/history-readings/wither-crude-oil-goeth-alberta

​Saudi Arabia’s Sovereign Public Investment Fund wants to shift their portfolio balance to about 80% local.

CHOICE QUOTE: “The Riyadh-based fund acquired more than US$3 billion worth of stock in the three U.S. video-game makers for the first time during the fourth quarter. By contrast, its exposure to U.S. equities in the third quarter fell by US$3 billion, mainly because the Saudis sold stakes in exchange-traded funds that track the real estate and materials sectors.”

“In the past, excess oil revenue was invested by the Saudi central bank, mostly in stable liquid assets like U.S. Treasuries… Prince Mohammed has pledged it will (now) spend at least US$40 billion a year at home through 2025, creating new cities, resorts and 1.8 million jobs.”
CHOICE QUOTE: “The world has a choice — stop developing new oil, gas and coal fields today or face a dangerous rise in global temperatures. That’s the bold assessment from the International Energy Agency, the organization that has spent four decades working to secure oil supplies for industrialized nations. In its new road map for achieving net-zero global carbon emissions by 2050, the IEA laid out in stark terms what the planet must do to avoid harmful the climate change — and just how far that is from our current reality.”

“This gap between rhetoric and action needs to close if we are to have a fighting chance of reaching net zero by 2050,” the agency said. Only an “unprecedented transformation” of the world’s energy system can achieve the 1.5 degrees Celsius target.”

#22 Ponzius Pilatus on 07.19.21 at 5:04 pm

Worries.
What worries?
I have a good defensive [email protected] portfolio in place.
As they say in soccer, the best offense is a good defense.

#23 Mean Gene on 07.19.21 at 5:07 pm

If so many people don’t want to work that impacts the general productivity of the country and impacts the value of our dollar, maybe higher interest rates are going to happen sooner rather than later.

#24 wiggleroom on 07.19.21 at 5:08 pm

“If you withdraw from the workforce without a major pile of money, you will know regret.”

Worries indeed. I am about to withdraw from the workforce (hanging on the edge – want to quit and, yes, FIRE soon.) How much is a “major pile of money?”

#25 NOSTRADAMUS on 07.19.21 at 5:08 pm

DUCKING STOOL!
If I keep it up, I will be heading to the ducking stool. Why,? for being too outspoken, challenging the over indebted to curb their spending in order to get their financial house in order. Alas, the over indebted party on. All the while keeping a heavy foot on the spending pedal. Looks like nothing but the old oak tree on dead mans financial curve will stop their spending, cold. Very few over indebted seem capable of grasping the consequences. It’s the compounding rate of stupidity, the 8th wonder of the world. This won’t end well, and that’s my optimistic take. I’m on my throne and I will not step down.

#26 ElGatoNerodeYVR on 07.19.21 at 5:08 pm

#13 Nic on 07.19.21 at 4:46 pm
” income and financial stability are societal, human rights. That’s dangerous. They’re not.”
Why not?
Also why should someone want to impress a boss and crave advancement when employees are so replaceable and wages have stagnated for years? This isn’t the 1970-2000, things have changed and getting ahead is not as simple as landing a job and climbing the corporate ladder, and NO it isn’t the fault of employees. Give your head a shake
==========
Touchy subject so in my experience being at different levels on the engagement ladder:
Good employees are extremely hard to replace and any solid manager will do whatever it takes to keep them; that being said nobody is irreplaceable and someone (or two) will step up to get the job done

Corporate advancement and pay are same as happiness: a personal choice. You can choose to work within the system or go find a better place if you want to be successful ,whatever that means to you.

I acknowledge your point that we shouldn’t , but in the real world perfection is not a thing , idealists will never ever succeed and heroes die. No company and job is perfect.
Yes ,capitalism is terrible for people who are unable to find motivation and a path to success, unfortunately the alternative is much much worse , hence a social safety net.
It truly is a personal choice to work hard and long hours in order to be successful, if you are smart or gifted the better chances, but wise choices combined with hard work will always give you a path to success.
Companies that treat their people as expandable will eventually die or flot along as zombies ,choosing to work for one of those for the long term on the other hand is an individual decision.

#27 Rogerhomeinspector on 07.19.21 at 5:10 pm

I feel part of the displeasure with going to work is a lot of people are doing intangible, almost made up work. I think a lot of people are not getting a sense of accomplishment from sitting behind a computer or shuffling papers endlessly.

I’m a cabinet maker by trade. I can’t tell you how often we’re working at someone’s home and the man or woman of the house is watching us intently, and comments that they wished they could do this sort of work. I always ask- “well why don’t you?” This is followed by a number of excuses and bashful glances away.

I think in many ways we’re doing a lot of work that just doesn’t provide people with a sense of satisfaction. We as a society glorify corporate jobs and titles and the idea that the goal in life is to do minimal work for exorbitant compensation. Though this may sound appealing, I think it’s leaving lots of people unfulfilled.

I’ve said it before and I’ll say it again- Dirty hands, clean money. There’s nothing better than at the end of the day being able to stand back and say “I did that- with my two little hands”. Our society doesn’t provide a lot of opportunity for people to actually do and create. We need more of that in my opinion.

#28 Joe on 07.19.21 at 5:10 pm

“Everyone I know does not want to go back to work full time”

good to see nothing has changed, no one has ever wanted to work, thats why lotteries flourish

#29 SoggyShorts on 07.19.21 at 5:11 pm

#17 kommykim on 07.19.21 at 4:52 pm
I remember being told while at my 1st real job, “Oh you don’t want a pay raise because that’ll put you in the next tax bracket and you’ll actually earn LESS.”
But in those days I did my taxes with pen and paper and knew the tax system didn’t work that way. People still fall for it though.

*********************
I have explained this at least 5 times to other adults over the past 20 years. That’s not a good thing.

#30 tbone on 07.19.21 at 5:11 pm

What i dont get is when did animals need to start wearing clothes ?
Especially the type that make them look like a sissy .

#31 Graeme on 07.19.21 at 5:13 pm

Definitely we are seeing a swing back from the initial drastic response to Covid but it’s important to realize also the larger picture, Covid stepped on the gas pedal.. in trends that were already in place. We’ve had surreptitious inflation for a while and now it’s hotter and more obvious. WFH was already a trend (I’m in tech) and now there’s greater opportunity. The FIRE movement existed because kids already felt disparaged. In 2 years we may think Covid was a memory… but in in 10 years, we be in nearly the same place had it happened or not… in a world that is pooched!

#32 Sail Away on 07.19.21 at 5:15 pm

“The Trump legacy of anti-vax bravado is on full display with a new pandemic of the non-inoculated.”

——-

But, but…

Trump cranked up vaccine production with Project Warp Speed immediately in March 2020 and he and Mel got vaccinated soon after it was available, no?

Timeline:

1. Trump accelerates vaccine production, says it will be out in a few months. Experts throw shade:

https://www.washingtonpost.com/politics/2020/03/04/fact-checking-trumps-accelerated-timeline-coronavirus-vaccine/

2. Weird, vaccines are out 10 months later. Is Trump still wrong?:

https://www.medicalnewstoday.com/articles/how-did-we-develop-a-covid-19-vaccine-so-quickly

#33 Ponzius Pilatus on 07.19.21 at 5:16 pm

#118 IHTCD9
I think collection agencies charge more like 40%. Bubba with a baseball bat is 50%.
————
When I worked for a Credit Union, we had a collections guy who was a tough SOB.
He was Scotish, but when he phoned a delinquent, he alwas put on this heavy Sicilian accent.
Needless to say, he had an almost perfect score.
But, when it came to real hard luck cases (he had a nose for it) he became a soft puppy. Was as accommodating as he possibly could.
We became good friends.
Spent far too much time in “The Jolly Taxpayer” pub, after work.
Stories like this won’t happen when working from home.

#34 Linda on 07.19.21 at 5:18 pm

I can certainly sympathize with those who do not want to return to the daily commute. Unless one can reasonably walk to one’s work getting to/from work is generally a) expensive; b) stressful; c) both. Literal hours of life spent in traffic. Taking public transit (if that is even an option) may free one from having to pay attention at the wheel, but seating isn’t guaranteed. Nor is arriving at the scheduled time. Yes, bad traffic can make anyone driving to work late as well, but at least you have a seat. You may also be able to switch to an alternate route that will still allow you to arrive ‘on time’.

Garth is correct that income & financial stability are not ‘rights’. Those conditions exist due to a stable economic environment. Covid was a game changer & brought home how fragile this economic house of cards really is. CERB et al was a lifeline thrown out to literal millions whose financial affairs were so ‘just in time’ that the disruption of the supply (work) was enough to immediately threaten the ability to pay for food OR shelter. Here is the thing about being an adult of sound mind/body: you are responsible for taking care of yourself. The social safety nets like EI or CERB are temporary measures. EI is a payroll tax meant to provide income for a limited time. CERB ditto – it wasn’t a payroll deduction but we will all be paying for it one way or another. Retirees who qualify can receive CPP/OAS/GIS. A workplace pension may or may not exist, which means if you want to have a comfortable retirement you need to set aside $ for the future. Anyone who doesn’t understand this has not been paying attention. And even ‘the rich’ can lose literally everything, life included, when peace & prosperity is replaced by war & anarchy.

#35 Wrk.dover on 07.19.21 at 5:18 pm

#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 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.
_____________________

You are still confused. The imperial gallon is 4.54 litres.
Easy number to remember 454!

20mpg US =24mpg (imperial) CDN That’s what it gets!

You will find a cheapy Bronco II in AZ, but the glory days are over for the affordable popular stuff. I set my sights low, on 15 year old vehicles for chump change. Hence the 94 Astro in 08 for a grand, in drive home condition.

The 96 Audi A6 in 010 for $2500 was too much car to comfortably wrench on for me. Sold. Totally awesome ride home though. Haven’t been back.

#36 SOMETHINGS UP!! on 07.19.21 at 5:19 pm

Just because you don’t want to work a traditional job doesn’t mean you want to stop working.

To retire young means you have the financial independence to take-up other hobbies and interests that you’ve always had.

Life is too short to live it not doing what you want to do.
At the end of the day no one else cares about #1 but you.

#37 Honest Realtor on 07.19.21 at 5:21 pm

Agreed, Garth. And this return to work will fuel a delightful boom in urban real estate.

Those who are scouting out condos and decent homes in Toronto now will be very pleased with the increase in value over the next decade and more.

#38 Quintilian on 07.19.21 at 5:22 pm

Wanting to go back to the office is a function of boomer insecurity.

#39 ElGatoNerodeYVR on 07.19.21 at 5:23 pm

#16 SoggyShorts on 07.19.21 at 4:51 pm
=======
Good example so my counter to that is that yes ,they should be taxed the same from the top revenue, it will force them to make better business decisions.

Dave: we want more like him ,will spend big on the services the other 2 provide

Steve: sadly borderline, only has a business because he can’t or won’t do something else or maybe just started; why would I as a taxpayer sponsor him to keep it going? He either has a business or not ,not my problem to keep him in it ,other than maybe visiting his restaurant if food is good, if yes he will grow and make more ,if not he will close.

Jason : Clearly a poorly thought out business plan if this happens every year ,see point above ,the business should die a painful death and serve as an example to others. Again ,why should I as a taxpayer keep him in a failed business and support his expenses through tax write-off again and again?

#40 truefacts on 07.19.21 at 5:25 pm

Waste your life working your a$$ off when the govt takes a HUGE chunk – top rates over 50%! (other taxes coming)

In Canada, financial success is taxed punitively. Many people will argue “we’re all in this together” and work “for the greater good”, but really, why bother????

Governments tax what they supposedly want less of (tobacco, alcohol, etc). Seems they want people to earn less income …so why fight it?

#41 Ponzius Pilatus on 07.19.21 at 5:29 pm

#11 Brian on 07.19.21 at 4:41 pm
“The Trump legacy of anti-vax bravado is on full display with a new pandemic of the non-inoculated.”

Wasn’t it the current VP who stated no to any vax developed under Trump’s administration.
—————
Well, the vax is now available in spades.
The problem is that Retrumplican politicians like Florida Gov. DeSantis are advising their voters not to get vaxed.
I say the pox on all of them.
Maybe charges of reckless endangerment of life should be laid.
But, maybe a significant correction will get the message through to these Neanderthals and their followers:
Until you get the virus under control, there will be no meaningful economic recovery.

#42 Linda on 07.19.21 at 5:35 pm

I can certainly sympathize with those who do not want to return to the daily commute. Unless one can reasonably walk to one’s work getting to/from work is generally a) expensive; b) stressful; c) both. Literal hours of life spent in traffic. Taking public transit (if that is even an option) may free one from having to pay attention at the wheel, but seating isn’t guaranteed. Nor is arriving at the scheduled time. Yes, bad traffic can make anyone driving to work late as well, but at least you have a seat. You may also be able to switch to an alternate route that will still allow you to arrive ‘on time’.

Garth is correct that income & financial stability are not ‘rights’. Those conditions exist due to a stable economic environment. Covid was a game changer & brought home how fragile this economic house of cards really is. CERB et al was a lifeline thrown out to literal millions whose financial affairs were so ‘just in time’ that the disruption of the supply (work) was enough to immediately threaten the ability to pay for food OR shelter. Here is the thing about being an adult of sound mind/body: you are responsible for taking care of yourself. The social safety nets like EI or CERB are temporary measures. The key word here is ‘temporary’. And neither of those programs were ‘free’.

#43 Chef on 07.19.21 at 5:37 pm

#3 SunShowers

In a world sautéed in debt?

…..

Sounds delicious SunShowers!

For the kids, can the chef deep fry the world in debt please?

#44 Joseph R. on 07.19.21 at 5:37 pm

#11 Brian on 07.19.21 at 4:41 pm
“The Trump legacy of anti-vax bravado is on full display with a new pandemic of the non-inoculated.”

Wasn’t it the current VP who stated no to any vax developed under Trump’s administration.

————————————————————

MAGA Logic:

1. The pandemic is a hoax to make Trump look bad;
2. However, Trump deserve all the credit for all the vaccines;
3. there’s no way I am taking any vaccines.

#45 ElGatoNerodeYVR on 07.19.21 at 5:47 pm

#40 truefacts on 07.19.21 at 5:25 pm
Waste your life working your a$$ off when the govt takes a HUGE chunk – top rates over 50%! (other taxes coming)

In Canada, financial success is taxed punitively. Many people will argue “we’re all in this together” and work “for the greater good”, but really, why bother????
=======≈==
Flawed argument. What would you rather have after taxes ?
1) 80% of 100,000
2) 50% of 1 million
3) 20% of 1 billion ( extreme ,just making the mathematical point)

Truly successful people while complaining about it pragmatically focus on making more ,taxes are just the cost of doing business and a higher marginal will not deter them.
Even with massive government waste, Taxes do pay for the social stability and business environment needed to generate that revenue to begin with.
Show me a single Canadian(or US, Russian, Chinese) billionaire that liquidated everything and really left their home country because of high taxes , even regular working people who have saved a couple million dollars don’t just pack up, pay the exit tax and go. The expat community is super tiny as a percentage.

#46 Sail Away on 07.19.21 at 5:49 pm

Re: WFH

We don’t need everybody back at the office, just the ones who want a job.

That said, for the folks who actually commute from adjacent communities (30 min max), we try to have them work on projects directly near or on the way to/from their home since it often makes sense for them to work from home to be near the jobsite while construction is underway.

#47 CDinBC on 07.19.21 at 5:50 pm

I’m not convinced WFH is entirely the issue with going back to the office. What I’ve been hearing most from the younger crowd is that they’re realizing that they will be left out of the housing market permanently and that wages aren’t keeping pace with inflation. They worry about hanging on to the rental they’ve been living in for the past couple of years when landlords only rent by the month to keep their options open. Finding an affordable apartment in this country is an issue right now. Housing is overpriced that’s true, but so too have rental properties become. The federal debt doesn’t concern the young. They’re angry that REITs are buying up housing and that Air B & B freely locked down thousands of properties that could have been rented out in every city and town from sea to shining sea. The kids are not alright. Too many of them are worried about the ability to maintain some semblance of a decent standard of living now and into the future, and it’s not looking bright.

#48 I'm not a doc on 07.19.21 at 5:50 pm

@Sir Gartho “The Trump legacy of anti-vax bravado is on full display with a new pandemic of the non-inoculated”

+++++++++++++++++++++++++++++++++++++

We cannot put full blame on the un-vaxxed. Let’s just take a look at Olympic village in Tokyo. These peeps are all double-dosed, double and triple screened before arrival but yet the outbreaks are quite rampant amongst themselves…Perhaps them boosters are on order?

1. https://www.cbsnews.com/news/olympic-athlete-staff-members-covid-19-positive/
2. https://www.reuters.com/world/asia-pacific/olympics-virus-outbreaks-olympic-hotels-sow-frustration-stoke-infection-fears-2021-07-16/
3. https://www.bloomberg.com/news/articles/2021-07-15/tokyo-virus-cases-hit-six-month-high-just-days-before-olympics

#49 SoggyShorts on 07.19.21 at 5:51 pm

#39 ElGatoNerodeYVR on 07.19.21 at 5:23 pm

Ridiculous. Here’s another example then since you like Dave:
Dave has a 1-man online consulting business.
Last year he had some minor computer/home office expenses and a bit of travel to meet clients.
Revenues: 300,000
Expenses: 10,000
Profit: 290,000

vs

Mark has a big consulting business with 100 employees
Revenues: 30,000,000
Expenses: 29,800,000
Profit: 200,000

So even though he made less profit than Dave he has to pay 100x as much in taxes since it’s revenue-based.
Poof, you now have 100 unemployed people.

Honestly, it sounds like you’ve never even worked at a start-up let alone tried one.
Many (most?) little start-ups don’t immediately make money and a huge tax hit on top would be crippling.

What are the stats? 1 in 5 dies in the 1st year, half within 5 years, and 70% after 10 years?
Add in a punitive tax for years where you don’t even make a profit and watch those numbers go right in the toilet.

The consequences of taxing based on revenues would be huge.

♦100% of dine-in restaurants would close or triple prices and be Elite-only affairs for 1%ers.

♦Forget about ever walking into a store again- online with no rent and no employees is the only viable business model with your idea.

♦100% of hair salons, Gyms, massage places etc. All gone or underground.

♦Cash transactions to dodge taxes would become the standard.

I believe you vastly over-estimate what profit margins are like for 99% of businesses. Most successful brick&mortar owners I’ve known have something like 30% labor, 30% overhead, and 30% materials costs.

#50 VGRO and chill on 07.19.21 at 5:53 pm

My intuition is that support for WFH is correlated to commute duration.

Here in Saskatoon, most people have a 5-15 minute commute. Haven’t heard any complaints about being called back into the office. People accept face to face communication as invaluable, and don’t try to rationalize sitting in their pajamas all day eating Cheetos as the optimal human form.

#51 crowdedelevatorfartz on 07.19.21 at 5:56 pm

Is that dog picture from Lawrencetown beach?

#52 Reality is stark on 07.19.21 at 5:57 pm

Pandemics are good for business and stratospheric borrowing has no consequences.
I learned this in Economics 101.
So why worry?
All is good.
The future wealth taxation which is inevitable as a result of the outrageous borrowing is also good for the economy.
I hope you sold any secondary property you owned.
There were plenty of greater fools out there ready to purchase.
You have only yourself to blame.

#53 Quintilian on 07.19.21 at 5:57 pm

Garth is correct that income & financial stability are not ‘rights’.

Garth is incorrect.
If the government taxes me, and I have no option to opt out, then I consider the relationship reciprocal and symbiotic, although coercive to some degree.

I forgo some freedom in return for some security.

Basic really.

#54 Sail Away on 07.19.21 at 6:04 pm

#44 Joseph R. on 07.19.21 at 5:37 pm
#11 Brian on 07.19.21 at 4:41 pm

“The Trump legacy of anti-vax bravado is on full display with a new pandemic of the non-inoculated.”

———

Wasn’t it the current VP who stated no to any vax developed under Trump’s administration.

———

MAGA Logic:

1. The pandemic is a hoax to make Trump look bad;
2. However, Trump deserve all the credit for all the vaccines;
3. there’s no way I am taking any vaccines.

———

Don’t let irrationality blind you.

Trump deserves a lot of credit for vaccine production. This is actually a real fact. Heck even CBC admitted it:

https://www.cbc.ca/news/health/operation-warp-speed-trump-pfizer-moderna-vaccine-1.5806820

And he ridiculed mask-wearing. – Garth

#55 [email protected] on 07.19.21 at 6:09 pm

Conflating office time with work ethic is palpably anachronistic. If anything we’ve seen that even under sub-optimal conditions, like having your kids at home with you for months on end, there have still been benefits.
https://www.apollotechnical.com/working-from-home-productivity-statistics/

I wouldn’t come down hard on either side here, obviously some duties need to be performed in-person. But the relentless negative bleating about WFH seems…quixotic.

#56 Elon Fanboy on 07.19.21 at 6:13 pm

#41 Ponzius Pilates. “Florida Gov. DeSantis are advising their voters not to get vaxed.”

You’re making up crap again.

https://www.abcactionnews.com/news/coronavirus/get-vaccinated-gov-desantis-covid-19-orders-become-clear

—–

Oh and the current VP said she wouldn’t take a vaccine if Trump told her to.

https://www.cbsnews.com/video/2020-vp-debate-kamala-harris-on-coronavirus-vaccine/

#57 R on 07.19.21 at 6:14 pm

Trumpers refusing to get vaccinated becomes a self correcting problem. Nature has a way of removing stupid from the gene pool. IMHO

#58 Give a mortgage to anyone on 07.19.21 at 6:15 pm

Garth, there are Canadian FIRE people like Derek Foster who show it can be done. Not only did he retire early but he raised a family too!

He did not retire. He writes books, flogs products and maintains a brand. I lost respect for him when he went to cash in 2009, giving in to fear and missing the bull market. No wisdom there. – Garth

#59 truefacts on 07.19.21 at 6:21 pm

@ #45 ElGatoNerodeYVR on

Flawed argument. What would you rather have?
1) 80% of 100,000
2) 50% of 1 million
3) 20% of 1 billion (extreme,just making the point)
____________________________________

Door #3 – 20% of a billion – do I win?
Getting back to REALITY…
People generally don’t decided between earning $100k and $1 billion. It’s more like $100k vs $120 or something similar.
Govt takes 50%.
$$ has declining marginal utility over a certain threshold.
Life (and time) is finite.
Why kill yourself if the fruits of your efforts are stolen?

#60 truefacts on 07.19.21 at 6:26 pm

@ #45 ElGatoNerodeYVR

“Taxes do pay for the social stability…”
______________________________________

Not true. See Singapore. Low crime, no statue vandalism/violent protests/drugs/drug injection sites/other social problems…

AND…

“Singapore follows a progressive resident tax rate starting at 0% and ending at 22% above S$320,000. There is no capital gain or inheritance tax.”

#61 Toronto_CA on 07.19.21 at 6:27 pm

“Has the pandemic killed our work ethic? Feels like it.”

If work ethic has collapsed, why are profits rising so much? My team at work is killing it, people are more engaged and productive and efficient than ever. We just gave out great raises and bonuses for smashing targets and winning work.

Anecdotally, this is the case with a lot of my colleagues at other firms. Everyone says they’re more productive and efficient working from home. The problem with hybrid working is that working from the office without the people you’re meant to be in with is worse than working from home (commute times, having to find meeting rooms, interruptions from well meaning work friends who want to gossip/discuss football that are great but stop productivity)

I’m in the UK and cases are still rising for our hopeful exit wave. No pressure to go back any time soon. One day a week will be plenty. We’ve picked Humpday.

#62 Sail Away on 07.19.21 at 6:30 pm

#49 SoggyShorts on 07.19.21 at 5:51 pm
#39 ElGatoNerodeYVR on 07.19.21 at 5:23 pm

Ridiculous.

Honestly, it sounds like you’ve never even worked at a start-up let alone tried one.

——–

Agreed… taxing revenue regardless of expenses is beyond ludicrous.

#63 Shakabra on 07.19.21 at 6:34 pm

Interest rates aren’t going anywhere. You can take that to the bank and cash it.

#64 Zed on 07.19.21 at 6:36 pm

57 Give a mortgage to anyone on 07.19.21 at 6:15

I totaly agree with Garth. I have all of Derek’s books, good investing strategy but selling was wrong.

#65 crowdedelevatorfartz on 07.19.21 at 6:40 pm

@#33 Ponzie’s Pub
“Spent far too much time in “The Jolly Taxpayer” pub, after work.”

++++

Ahh the Jolly Taxpayer Pub.
Spent many a lunch and dinner in their in the 1980’s and early 90’s when I worked downtown window cleaning.
Dickie the bartender, Melanie, & Lisa the waitresses.
The pool table with the resident hounds….
Good times.

#66 Drill Baby Drill on 07.19.21 at 6:42 pm

Corporations are not going to continue to support WFH. As a former retired engineering office manager I can tell you when you have a project in house you need to have 3 – 4 junior to intermediate staff per senior engineer. How can you possibly train and oversee the more junior personnel if everyone is at home? Big reality check coming.

#67 Keith on 07.19.21 at 6:46 pm

The old social contract provided by the workplace is long gone. Companies used to offer on the job training and mentoring, full benefits including a pension. Smaller family owned companies would provide a paternalistic approach instead of a union contract, and employee turnover was low. Wages were far higher than today in terms of purchasing power, and society was much more egalitarian.

Michael Lewis relates the story of Lewis Rainieri in his profile of Wall Street, the excellent “Liars Poker.” Lewis worked for Salomon Brothers as a mail clerk when it was a partnership in the sixties. He had been there a few months, and his wife got seriously ill. Ten thousand dollar hospital bill. He asked the only partner he vaguely knew if he could get a loan. The partner said, “it will be taken care of.” Lewis started to explain he couldn’t afford to pay the money back and the partner stared at him – “I said it will be taken care of.”

Companies today have zero loyalty to their employees. They don’t train people, because they know employees can take that training to the competition, so they pay recruiters to steal people from other companies. Employees are a number and unit of cost, and young people today see it and know it. Company literature expounds on how they value employees, while handing out less than the cost of living for a pay raise.

If I was a parent, I would teach young people to develop not just a marketable skill, but an ability to do that at least at a level of self employment as an independent contractor. Even working for the government is not as good a deal as it used to be, and it will only get worse. New hires for the provincial government in B.C. are not happy to hear that the minimum retirement age has gone from 55 to 60. Change comes, even to the most secure employment options. Young people are thumbing their nose at being a stressed out corporate drone with no real security, short or long term. Maybe the world of large businesses needs to hear the message.

#68 The Big Bopper on 07.19.21 at 6:48 pm

I just left corporate life in the ‘big city’ for a 7-11 job in small town New Brunswick. The pay is at minimum wage and I sometimes work the graveyard shift, but the drive to/from work is basically traffic-free and my greatest stress is emptying the garbage. I can even sneak a bag of M&Ms if nobody is around. This is livin’ the (Canadian) dream.

#69 Sail Away on 07.19.21 at 6:48 pm

#54 Sail Away on 07.19.21 at 6:04 pm

Trump deserves a lot of credit for vaccine production.

“And he ridiculed mask-wearing. – Garth”

——–

‘The evil that men do lives after them; the good is oft interred with their bones’

-W. Shakespeare

#70 Sask to AB on 07.19.21 at 7:01 pm

re #27 Rogerhomeinspector on 07.19.21 at 5:10 pm

Great post, thanks for sharing.

F58AB

#71 Don Guillermo on 07.19.21 at 7:03 pm

#20 Ponzius Pilatus on 07.19.21 at 4:59 pm

When the other guy can’t or won’t pay, you gotta deal with it mano a mano,
as Don G. would say.
****************************************
Gracias por el cameo!!

#72 Arcticfox on 07.19.21 at 7:05 pm

Interesting:

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

#73 Dolce Vita on 07.19.21 at 7:10 pm

PINGDEMIC

Whether people don’t want to go back to work (or work at all) Delta will ensure both happen.

UK’s official “you’ve been in contact with a Typhoid Mary” app has sidelined for 10 days (told to self-isolate):

520,000

in the period of July 1 to 7.

Today England’s car plants, railways, supermarkets and pubs warned the government on Monday that a COVID-19 tracing app (NHS Track & Trace), which has told hundreds of thousands of workers to isolate, was wrecking the recovery and pushing supply chains to the brink of collapse.

SOLUTION:

Gov UK says they will make it ping less.

#74 Concerned Citizen on 07.19.21 at 7:10 pm

It’s even worse than that, Garth. Yes, there’s a whole subset that have done the math and know they’ve been disenfranchised. Look at any forum frequented by young people to see that sentiment.

But then there’s another subset of highly skilled people who have done the same math and concluded to hell with the cost of living and low wages in Canada, I’m moving abroad.

Then there’s another – albeit smaller – subset of FIRE folks who have made hundreds of thousands of dollars, if not millions, sitting on their ass(ets) and letting the central banks do the work. Some (many) of these younger people have made enough coin from the housing and stock bubbles that they will never do anything productive again except crack the whip on the poors.

I don’t know how you can have a functioning society when motivated and skilled people want to leave, the ones that stay are alienated, and a growing rent-seeking class sucks the bones dry. But hey, I guess it’s OK since the central bankers will keep asset bubbles growing bigger and bigger regardless.

#75 Ponzius Pilatus on 07.19.21 at 7:11 pm

#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.
———–
Good for your daughter.
Hobby farms would just serve a rich guy as a tax write-off.
But, I think now it’s the future.
Shawn talkes about buying eggs for 2 bucks at Shoppy.
Would not touch that stuff, even if they put a gun to my head.
There is a “Chicken farm” in Newton in Surrey.
It’s ahuge industrial concrete building with no windows.
I think it’s called Sunrise Poultry, and they sell their stuff as “local” pretending it comes from a farm.
I know many of us are suffering from the heatwave, but I have to say my tomatoes, zucchinis and beans are doing faaantastic. Thank you Vander Salm.
Start you own garden, you’ll be surprised how much you can get from a small plot.
And it’s fresh and tasty!

#76 Don Guillermo on 07.19.21 at 7:12 pm

#45 ElGatoNerodeYVR on 07.19.21 at 5:47 pm

Show me a single Canadian(or US, Russian, Chinese) billionaire that liquidated everything and really left their home country because of high taxes , even regular working people who have saved a couple million dollars don’t just pack up, pay the exit tax and go. The expat community is super tiny as a percentage
****************************************
British rock stars and pro tennis players are some good examples. Maybe not all billionaires but a few are close. Check out where our favorite young tennis stars Dennis S and Felix A pay their taxes.

#77 NSNG on 07.19.21 at 7:14 pm

#49 SoggyShorts on 07.19.21 at 5:51 pm

Why so worked up about a debate theory?

You also seemed to miss my point about the first 100K revenue being tax-free?

Then you say all these businesses skirting along on the margins would die. So you are saying that most businesses are not free-market enterprises and are just corporate welfare entities that are dependant on the government?

If the change to a revenue scheme was revenue neutral, then the economy would adjust, the big profit hiders would pay more and the economy would continue on as usual. If the frivolous companies (the ones you say could not exist if they actually had to pay taxes) could not survive, the free market would step in and replace them if they were truly meeting a need. That’s how capitalism works.

If they weren’t meeting a need then they were gambling in the first place. When you gamble you risk and with risk there is a chance of loss. Maybe this is why these companies were barely surviving in the first place.

Anyway, that’s all I’ll say. You guys are clearly willfully obtuse about the subject because you have your retained earnings you are so desperate to protect.

#78 Joseph R. on 07.19.21 at 7:17 pm

#54 Sail Away on 07.19.21 at 6:04 pm
#44 Joseph R. on 07.19.21 at 5:37 pm
#11 Brian on 07.19.21 at 4:41 pm

“The Trump legacy of anti-vax bravado is on full display with a new pandemic of the non-inoculated.”

———

Wasn’t it the current VP who stated no to any vax developed under Trump’s administration.

———

MAGA Logic:

1. The pandemic is a hoax to make Trump look bad;
2. However, Trump deserve all the credit for all the vaccines;
3. there’s no way I am taking any vaccines.

———

Don’t let irrationality blind you.

Trump deserves a lot of credit for vaccine production. This is actually a real fact. Heck even CBC admitted it:

https://www.cbc.ca/news/health/operation-warp-speed-trump-pfizer-moderna-vaccine-1.5806820

————————————————-

Go discuss it with the MAGAs. They credit Bill Gates, Georges Soros and the CCP. They will show you links and You Tube videos “they don’t want you to know” to prove their point.

#79 Ponzius Pilatus on 07.19.21 at 7:19 pm

#32 Sail Away on 07.19.21 at 5:15 pm
“The Trump legacy of anti-vax bravado is on full display with a new pandemic of the non-inoculated.”

——-

But, but…

Trump cranked up vaccine production with Project Warp Speed immediately in March 2020 and he and Mel got vaccinated soon after it was available, no?

Timeline:

1. Trump accelerates vaccine production, says it will be out in a few months. Experts throw shade:

https://www.washingtonpost.com/politics/2020/03/04/fact-checking-trumps-accelerated-timeline-coronavirus-vaccine/

2. Weird, vaccines are out 10 months later. Is Trump still wrong?:

https://www.medicalnewstoday.com/articles/how-did-we-develop-a-covid-19-vaccine-so-quickly
———–
The only vax that was part of “slow-speed” was Moderna.
BionTech Pfizer was a German contraption manufactured by Pfizer.
Astrazenica is British.

#80 George S on 07.19.21 at 7:23 pm

#17 Kommykim wrote:
“I remember being told while at my 1st real job, “Oh you don’t want a pay raise because that’ll put you in the next tax bracket and you’ll actually earn LESS.”
But in those days I did my taxes with pen and paper and knew the tax system didn’t work that way. People still fall for it though.”

I have always laughed about that. It goes to show you how many people are innumerate and will believe anything. I would still take a raise even if it put me into a 99.99% tax bracket.
I guess that also explains why people actually gamble at casinos.

#81 Lawless on 07.19.21 at 7:30 pm

You’ve really got to watch these stats you keep quoting from employers whose employees want to return to work. Much like realtors, employee surveys about return to work tend to be created in such a way that employers can quote franken-stats that say 60% voted to return to the office when the question is framed something like a) “how many days would you be willing to return to work” with possible answers varying from 0-5, b) any answer of 1+ days is a vote for a return to work, and c) the surveys aren’t typically anonymous. Very few people have the cahones to say 0 in that context, but I’ll point out that ~30-40% of people still do. The masses by and large don’t want to return to work not because they’re lazy/entitled, but rather because if anything this past year has shown that it’s unnecessary in many roles and inefficient for people to spend time/money physically dragging their physical selves into a workplace to produce a digital work product. Companies like Blockbuster, Netflix version 1.0, and HMV were all sellers of tangible digital products, but all demonstrate that moving tangible digital products around instead of 1s and 0s on the internet in this day and age truly makes limited sense. Arguably, the same is true for employers/employees. I see a lot of reluctance to change on the part of employers – best people are naturally going to gravitate towards the employers who give them what they want.

#82 Dolce Vita on 07.19.21 at 7:33 pm

Eyes on the UK.

Sir Patrick Vallance, Gov UK’s chief scientific adviser:

“In terms of the number of people in hospital who’ve been double vaccinated, we know it’s around 60% of the people being admitted to hospital with COVID”

Anti-vaxers will be in glee about this.

Facts:

July 13 At least 1 dose vaxd = 46.3M
New Cases = 46,636
Admitted to hospital = 742
In hospital = 3,631
Deaths = 40

vs.

January 8 At least 1 dose vaxd = 2.3M
New Cases = 46,998
Admitted to hospital = 3,998
In hospital = 33,778
Deaths = 984

———————-

Get vaxd Canada. Your vax rates continue to plummet:

https://i.imgur.com/4q4d6VG.png

6.73M of you 12+ eligible for vaxing are UNVAXED. 11.8M unvaxed of the total population.

Plenty for Delta to Dine on.

#83 Tony on 07.19.21 at 7:35 pm

Garth, 1.195% current 10 year bond yield is what Powel, US Fed, Bank of Canada, ECB, Bank of Japan, Bank of Australia, Bank of England and other central banks love. They are the money manipulators or better said by James Grant, the biggest price fixers which is the interest rate game.

I know how they think and that is why since 2008, I noticed how they changed their game. I own no stocks, corporate, equity investments just Canada, provincial bonds. I buy at certain yield points that I know within 4% peak and make my profit once a year. The last 13 years my worse year was 8% my best year was 25%. I have averaged 12% per year. I buy once, sell once and that is it.

#84 mark on 07.19.21 at 7:36 pm

So that means millions never want to be in office again.
Sounds like a recipe for lots of trouble down the road if over 1/4 of the workforce refuses to go back to work.

#85 Flop… on 07.19.21 at 7:44 pm

#5 Penny Henny on 07.19.21 at 4:35 pm
#31 Flop… on 07.18.21 at 3:18 pm
Diary of a Government Worker.

Yours Respectfully,

Canada’s 7,067,844 person in charge…

M47BC

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

Who died and moved you up to 7,067,844? Huh?

###############################

Apparently old Ethel in one of the Alberta offices retired so I moved up a spot.

Stopped twice today in between breaks to eat an ice cream.

The wickedness of this place never stops.

Don’t worry, I ate them quickly.

Thank you taxpayers.

Respectfully, Canada’s 7,067,844 person in charge…

M47BC

#86 joe on 07.19.21 at 7:48 pm

This is not good Garth….
God keep our land glorious and free?

https://www.msn.com/en-ca/news/canada/burn-it-all-down-head-of-bc-civil-liberties-group-resigns-over-tweet-about-church-fires/ar-AAMjKmb?ocid=BingNewsSearch

https://www.faithwire.com/2021/07/15/at-least-45-christian-churches-set-on-fire-in-canada-as-attacks-continue-to-escalate/

#87 Drinking on 07.19.21 at 7:48 pm

Covid has gone no where; this fall a new variant will return, like the flu Covid will always mutate. I am not convinced that there will be a huge influx of people returning to the office.

The experimental drug was just that; each year people will need to get another updated dose, really, who wants that and for what??? To buy that million dollar skybox or a 150k house of junk for a million plus, to fly away partying it up in an all inclusion.

Times have changed forever and who ever is hiring or have employees better get use to this fact. Look what is already happening in Europe!

I am just glad to be old enough to move on!

The vaccine has crashed deaths and hospitalizations. Hope you got yours. – Garth

#88 Baba Novac on 07.19.21 at 7:58 pm

Garth, do you mind elaborating on why you think the following is so unacceptable/negative for society: “when the sole goal of investing is “?

I might not be an advocate of the word “sole”[goal] above, but (earlier or just “at 65”) FI retirement can be a goal it itself (as in: the opposite of full-time, remunerated employment).

Not my plan (I’m happy to soon go to hybrid FIRE – finance independence, recreational [self]employment), but I see no societal wrong if someone chooses to focus on investment FI for the main/sole purpose of subsequently enjoying the fruits of one’s own labour without remunerated employment…

#89 Baba Novac on 07.19.21 at 7:59 pm

Above: …“when the sole goal of investing is ‘not to work’“…

Why wrong approach?

#90 Becareful with bonds on 07.19.21 at 8:03 pm

Hey Tony, I am hanging in there still, not selling bonds as there is another a 8% to 10% up side until end of September. After that, watch out, bond yields will be much higher. I see easily a 1.75% 5 year Canada bond, 2.1% 10 year Canada bond by end of 2021. The Us even much higher bond yields. If your not careful there could be easily 30%+ bond value drops by early 2022.

#91 Nonplused on 07.19.21 at 8:15 pm

#16 SoggyShorts on 07.19.21 at 4:51 pm
#39 ElGatoNerodeYVR on 07.19.21 at 5:23 pm

=======
Good example so my counter to that is that yes ,they should be taxed the same from the top revenue, it will force them to make better business decisions.

Dave: we want more like him ,will spend big on the services the other 2 provide

Steve: sadly borderline, only has a business because he can’t or won’t do something else or maybe just started; why would I as a taxpayer sponsor him to keep it going? He either has a business or not ,not my problem to keep him in it ,other than maybe visiting his restaurant if food is good, if yes he will grow and make more ,if not he will close.

Jason : Clearly a poorly thought out business plan if this happens every year ,see point above ,the business should die a painful death and serve as an example to others. Again ,why should I as a taxpayer keep him in a failed business and support his expenses through tax write-off again and again?

————————————-

Doesn’t anybody in these comments understand how business taxes work?

Dave’s business probably showed zero profit because he salaried himself the $290,000 and paid personal income tax. Previously he could have used dividends to avoid some taxes but I think that is mostly gone now.

Steve is showing a 10% profit on a restaurant, which is pretty amazing actually. I assume his own salary is in the $270,000 in expenses. If it isn’t he should be paying himself more and show a zero net profit. The only reason to show a profit in a small business is if you need to retain earnings for an expansion.

We have no idea if Jason is showing a profit or a loss because inventory isn’t taken into the P&L statement until it is sold. He would show the interest on his financing as an expense though. Hardware stores like most retail run about 50% margins but salaries, utilities, rent, financing, etc. all have to come out before you can declare a profit.

All of these companies are collecting GST for the government unless Dave’s clients are out of country, so a revenue tax is duplicative. Just raise the GST if you don’t think it is enough.

And taxing revenue isn’t going to make anybody make better business decisions. The profit motive does that all on its own. Anyone who thinks that businesses need tax incentives (or punishments) from big brother the government most obviously has never run a business before. Painfully obviously. There is always a bigger boat to be had for the owner if margins can be improved. That is motivation enough.

However increasing the GST or adding some other duplicative “revenue tax” will raise consumer costs and thus slow spending. All the businesses might go broke if they did that to an extreme.

Folks, there are no avenues for taxation that have not already been explored. Your idea is not new. Whatever you though up, there is already a tax for that. You can double the GST and call it a “carbon tax”, but it is nothing new. Neither is a “revenue tax”. We have one already and it is call the GST/HST.

#92 the Jaguar on 07.19.21 at 8:24 pm

A few thoughts on WFH. Many offices offered this option to employees long before Covid arrived on the scene. My observation was that it was largely employee driven and about the ‘commute’, not just in terms of time or expense, but also avoiding the great unwashed and other unsavoury characters that transit lines attract like bees to honey. WFH is also often coupled with ‘flex hours’, so childcare and petcare issues and costs ease up. Winter commuting just makes everything worse, so a bonus not to pull on all those boots, coats, etc., and drive on snowy roads. Time and money are saved without question. For disciplined self starters who can deliver measurable performance at a distance it can make sense.

Downside is mentorship is lost. Role modelling too, and at kind of a critical time as some very experienced people leave specialized fields for retirement. Harder to manage the non self starters or complete meaningful training if you are a people manager. What I always found interesting was those who worked from home often seemed uncomfortable when others chose to go into the office. It troubled them. Why should that be, I wonder? They have the right to work from home, so why should another person’s choice to go into the office make them anxious? One gleans it in the comments here when this subject comes up, along with the defiance that if people are called back in to the office ” I’ll just quit, dammit, and they will lose a great employee!”.
Hard to know where the truth lies, but I think it may be in ‘values’. I’ve got the ‘old school’ kind. They’ve served me very well. The people I like to be around have them too. Anyhoo, the choice is there one way or another, and then we can all sit down to a banquet of consequences afterward. What an exciting time to be alive.

#93 SoggyShorts on 07.19.21 at 8:29 pm

#76 NSNG on 07.19.21 at 7:14 pm
#49 SoggyShorts on 07.19.21 at 5:51 pm
You’re just talking nonsense.

The 100K allowance is useless for any company with 3+ employees since you’d need that just to cover minimum wage.
Businesses have expenses. Legitimate ones like materials, and employees.

If someone buys lumber at $90, turns it into furniture, and sells it for $100 that is simply not the same as someone who gives a couple of haircuts for $100 with $1 of shampoo.

If the lumber guy buys $900 of lumber and turns it into furniture to sell for $1,000 he shouldn’t pay 10x the tax of the barber who charges $100 for a couple of haircuts.

Are you seriously not getting this? Have you never been allowed into a management meeting or had a look at the books of any company?

#94 Nonplused on 07.19.21 at 8:31 pm

#41 Ponzius Pilatus on 07.19.21 at 5:29 pm
#11 Brian on 07.19.21 at 4:41 pm
“The Trump legacy of anti-vax bravado is on full display with a new pandemic of the non-inoculated.”

Wasn’t it the current VP who stated no to any vax developed under Trump’s administration.
—————
Well, the vax is now available in spades.
The problem is that Retrumplican politicians like Florida Gov. DeSantis are advising their voters not to get vaxed.

—————————————–

Do you have a citation for that? Or did you just make it up? I mean anything is possible, but I don’t remember hearing or reading about any politician anywhere except maybe Malaysia advising people not to get vaccinated. I heard many say it should not be mandatory, or maybe that there weren’t going to be vaccine passports in his state (I recall DeSantis saying that), but I am not sure that is the same thing as “don’t get vaxxed”.

#95 Wrk.dover on 07.19.21 at 8:47 pm

#69 Sask to AB on 07.19.21 at 7:01 pm
re #27 Rogerhomeinspector on 07.19.21 at 5:10 pm

Great post, thanks for sharing.

F58AB
_____________________________

The flip side of the coin is, you need a years income in tools (minimum), an apartments equivalent rent of a shop, a years income of a van, access to dependably dried stable wood, which you will eat for lunch if you make a mistake with it, and best of all, after many years of experience, you will make a fraction of the income of the customer, because the customer went to Uni. at an expense.

Ooooo.

But spraying lacquer on everything has it’s perks.

#96 S.Bby on 07.19.21 at 8:47 pm

Another burnt church. Not RC this time.

https://www.citynews1130.com/2021/07/19/surrey-church-fire-whalley/

#97 TrueLies on 07.19.21 at 8:48 pm

Yesterday this pathetic, paleo (fully dosed) blog…

——————

Fully dosed?
Very presumptious of you Garth.
Now, are you going to ‘delete’ anyone who chooses to not take the jab and actually advertizes it?

Me? Maybe I have, maybe I haven’t.

I don’t see how it’s anyone’s business (it’s also not my business to inquire about your medical history).

#98 S.Bby on 07.19.21 at 8:50 pm

Canadian Tire Bank just announced an interest rate increase to 1.25% on their savings accounts.

#99 Heath Slee on 07.19.21 at 8:50 pm

Garth, the 3rd Paragraph of today’s blog pretty much describes the thinking of so many people today.
Meanwhile there is a core select group of people who are truly producing the real wealth of our nation with ever deminishing returns on their investment. An ageing workforce are we small farmers out west who are dealing with a severe drought the likes of which has not been seen since the Great Depression. What worries me most is that Agriculture our most important industry has been cast aside or left behind, while other interest groups are feeding at the public trough.
I’m a lifelong 3rd generation farmer now in my 70’s living a life similar to many small cattleman struggling to stay afloat amid crop yields that are non existent or 40-50% of normal.
I look forward to the one or two annual paydays when it comes time to ship my cattle to market. I have a sense of dread about cattle prices come fall, since farmers who won’t have the feed to bring their cattle thru the coming winter will be trucking more cattle to market.
No breaks in fuel prices or the carbon tax for farmers, increased costs for parts, feed (I hear $18/bale for hay at the coast), up in the morning to change 3 lines of irrigation pipe 1/4 mile each in length and on with the rest of the day generally 10-12 hours or more.Sure as hell hope and pray that the creeks don’t start to dry up. Wonder who would be crazy enough to get into farming at times like this with what are seeing with the cost of land.
Like to invite politicians to spend a day on the farm. What’s an old fool like me to do?

I guess I’ll continue to be like the guy who always wished he’d win a million in the lottery so he could keep farming for a few more years.

#100 Drinking on 07.19.21 at 8:51 pm

The vaccine has crashed deaths and hospitalizations. Hope you got yours. – Garth
———————————————————-

Since you are pretty slow or will not post my last response to you. Here is a link from CTV, which has done a pretty good job updating Canadian’s on Provincial and Feds stats.

Yes, jabbed! You like stats; look at the similarities or at least allow your viewers who are interested from last summer to this summer stats, look at the graph below the Provincial numbers. Hmm, interesting!!!!!

https://www.ctvnews.ca/health/coronavirus/tracking-every-case-of-covid-19-in-canada-1.4852102

#101 Tyberius on 07.19.21 at 8:52 pm

#56 R on 07.19.21 at 6:14 pm

Trumpers refusing to get vaccinated becomes a self correcting problem. Nature has a way of removing stupid from the gene pool. IMHO
+++

Don’t forget the naive too.

#102 Nonplused- on 07.19.21 at 8:57 pm

“And he ridiculed mask-wearing. – Garth”

At the beginning Fauci advised against masks too. Partly because you couldn’t get them anyway, sold out everywhere, but also because there weren’t enough cases floating around to materially affect the curve with masks. And let’s not forget the hand sanitizer shortage, which was almost as bad as the toilet paper shortage. But now that you can get all the masks and hand sanitizer you could ever hope for at Costco and even at the 7-11 the messaging changed. Also as case counts went up it became more prudent to wear a mask. Now that vax rates are climbing, it is again becoming less necessary. I note that most people still do though. I do when I go inside, but not outside anymore.

Still a Trump fanboy. That always surprised me. – Garth

#103 Check again. on 07.19.21 at 8:58 pm

#81 Dolce Vita on 07.19.21 at 7:33 pm
Eyes on the UK.

Sir Patrick Vallance, Gov UK’s chief scientific adviser:

“In terms of the number of people in hospital who’ve been double vaccinated, we know it’s around 60% of the people being admitted to hospital with COVID”

Dolce, he has since said that he misspoke….60% of hospitalizations are unvaccinated people. If I had to guess, the majority of the remaining 40% were not fully vaccinated.

#104 Phylis on 07.19.21 at 9:11 pm

#62 Shakabra on 07.19.21 at 6:34 pm
Interest rates aren’t going anywhere. You can take that to the bank and cash it.
Xxxxxxx
If you are referring to savings accounts, I agree.
In other news, our local health system is cleared of covid cases!

#105 Faron on 07.19.21 at 9:15 pm

#51 crowdedelevatorfartz on 07.19.21 at 5:56 pm

Is that dog picture from Lawrencetown beach?

I’d guess that’s close. My guess is Cow Bay — just before Lawrencetown when heading up the coast. That surf spot in the background is one of 1000 things that Halifax/Dartmouth have going for them. 20 of them are surf spots more or less. Maybe one of them is Garth… :-)

#2 cuke and tomato picker on 07.19.21 at 4:25 pm

Why did the markets drop today?

Read it. – Garth

Monday after monthly options expiry. Order flows that support the market through rough times get cut down making the week or two after MOPEX susceptible to some selling. Note that the COVID crash started Monday after MOPEX. Market breadth has been in the gutter for almost two weeks among a lot of other reasons equities were looking a little dicey.

I wouldn’t count on this being a CRASH!!! Just a puff of steam while some of the garbage gets flushed.

#106 Drew on 07.19.21 at 9:20 pm

Meh. I’m sure wfh will mostly end eventually. I’m still working full time, probably more, and haven’t needed a sick day or personal day, or whatever since Mar 2020, so I don’t buy that ‘the office’ is important for working.

I’m also building my own pension, because I ‘m not going to depend on an employer. I don’t expect the government to cover things either so I don’t even depend on CPP or OAS. I don’t think the government should be paying for our retirements I can save up for it myself.

#107 Nonplused on 07.19.21 at 9:21 pm

#44 Joseph R. on 07.19.21 at 5:37 pm
#11 Brian on 07.19.21 at 4:41 pm
“The Trump legacy of anti-vax bravado is on full display with a new pandemic of the non-inoculated.”

Wasn’t it the current VP who stated no to any vax developed under Trump’s administration.

————————————————————

MAGA Logic:

1. The pandemic is a hoax to make Trump look bad;
2. However, Trump deserve all the credit for all the vaccines;
3. there’s no way I am taking any vaccines.

———————————————

It seems that all discourse in North America is descending into something you might see on “The View” or Brian Stelter’s show on CNN. You can say anything about anybody and no citation or context is needed. Call Tucker Carlson a threat to national security? Go for it! Heck they’ve gone one step further and declared the whole Republican Party a threat to “national security”. Sometimes the Babylon Bee gets it right, as in this headline: “Scientists Warn That Within 6 Months Humanity Will Run Out Of Things To Call Racist”.

I know we are all as angry as hell and that public discourse has reached levels unimaginable 30 years ago, and I don’t exactly know why, but I kind of miss the days you couldn’t just make up any old thing out of context without you being the one who suffered a loss of face. Facts and context used to matter. They don’t anymore. Back in a more civilized era you couldn’t just run around calling people racist, misogynist, or white supremist without backing it up. Was it Facebook? Or did the CIA put something in the water?

For the record,

Trump was very supportive of vaccines and put a lot of money towards their development early on in the pandemic.

Trump and Melania made it very public that they got vaccinated.

Trump did wear masks, just not when speaking or with vaccinated people.

Trump never call covid a “hoax”, he was referring to the media and democrat reaction to it. I suppose one could say he was opposed to the lockdowns and the economic damage that was sure to ensue. He considered the lockdowns a “hoax” that was going to do more harm than good.

None of the three things you listed were ever part of the “MAGA” agenda, which was laid out in 2015, four years before anyone ever heard the phrase “covid-19”.

It’s no wonder we as a society can’t come to any agreement on even the simplest things. We are all making up our own facts and have decided citations are unnecessary. Things that would be considered libelous in saner times are now just common Facebook behavior. I guess Gobbles was right, if you repeat the lie enough times it becomes the truth. Only now everyone is doing it with their own version of the truth via twitter.

Oh and another fact, like him or not, Trump got the most votes of any presidential candidate ever! (Except for Joe Biden, who got more. But Trump is still #2.) So there are plenty of reasons to hate Trump, the man just isn’t likable, but do consider that almost half the population is not watching the same show you are. One screen, two shows. Actually probably everybody is seeing a different show.

#108 Nonplused on 07.19.21 at 9:25 pm

#95 Nonplused- on 07.19.21 at 8:57 pm

“Still a Trump fanboy. That always surprised me. – Garth”

Well, me and 74 million American voters.

Trump as a person is not the best example of humanity’s finest. He’s easy to hate and can’t seem to help offending pretty much everybody. But on the policy front I think he got a lot of things right. Certainly better than Biden or Trudeau. But of course that statement is opinion, I’m not sure policy falls into the category of “fact”.

In 2012 The Republican contender got 61 million votes. It is safe to assume the bulk of these people voted ‘party’ and did so again in 2016 and 2020. It is a fallacy that everyone who voted red in the last contest supported Trump. Get the hell off Parler. – Garth

#109 mike from mtl on 07.19.21 at 9:27 pm

I’m assuming your ‘colleagues’ are in the minority, Raymond James or otherwise. Personally as much as I’d want to return to a normal routine of leaving the house I’m very much in the minority given a large internal survey. This is a company of mostly early Gen-x and late boomers.

By the way the virus did nothing apart from being a virus, the various governments around the world are truly at fault here, blindly copying the CCP dictator lockdowns. Last I checked that achieved nothing other than total destruction but hey 18 months later we apparently learned nothing.

The first wave was an excellent opportunity for my employer to ‘clear out the cobwebs’ so to speak. Hearing from the grapevine if another serious restriction this autumn when promised back to normal, we’re going to actually abandon the traditional office. Keep the mailbox address, boardroom or two, HR & c-suite offices.. that’s it. Cost is not the issue, losing face sending everyone back home come December is.

This is a NYSE/TSX60 listed corp.

City and provincial politicos better think long and hard before knee-jerk restrictions, reinstating mask mandates, domestic passports and any other stupid nonsense. Nowhere around the world has so far seen any permanent return to normal, it’s all this uneasy unknown.

#110 The joy of steerage on 07.19.21 at 9:40 pm

#106 Nonplused on 07.19.21 at 9:21 pm
…..

You really shouldn’t have injected the bleach….

#111 baloney Sandwitch on 07.19.21 at 9:46 pm

So, looks like we are having a “correction”. I think the markets got a little over heated. The delta scare should cool it down a little. Hopefully it will also scare the trumpers into getting a jab. The vaccine seems to be holding and the pharmas are pushing for boosters. More billions for them.

#112 It'sAllMagicToMe on 07.19.21 at 9:48 pm

Garth,

I love the blog, but I have been suspicious of your mentions of WFH survey results ever since you quoted a headline from some Nanos poll a bunch of months (or a year?) ago that said most downtown Toronto workers were ready to go to their workplaces. It was completely misleading for a ton of reasons.

Also, it doesn’t quite stand to reason that you seem to be picking on a super large number of people who want to keep working from home while pretty constantly claiming that a strong majority of people want the office back. 96 percent of respondents in my 50k-strong US-based company stated that they want sustained remote work (even if not every single day).

In terms of productivity, I hardly think that it is all slackers who want to keep WFH. Plenty of productive employees are happy to avoid a commute, get more family time in, and be able to navigate things like appointments more easily. A lot of those people are actually much more productive rather than less.

#113 Nonplused on 07.19.21 at 9:48 pm

#97 S.Bby on 07.19.21 at 8:50 pm
Canadian Tire Bank just announced an interest rate increase to 1.25% on their savings accounts.

———————————–

Do they pay it in Canadian Tire money?

#114 Mattl on 07.19.21 at 10:12 pm

“Maybe it’s prehistoric to be grateful for a job, impress the boss, to crave advancement, put in overtime and build a career.”

All this can be achieved within a WFH scenario.

Lot of reasons to have employees in the office, and most that went to WFH should migrate back to the office, but you have a warped understanding of WFH. Some of the biggest business in the world were built and are run by remote employees. Global businesses require collaboration with colleagues all over the place. Very rare to sit in the same office as your C suite unless you work for a SMB.

The office is over rated but I get that some managers need to physically see their employees to believe they are working. These companies are going to bleed talent, the work world has changed.

#115 Nonplused on 07.19.21 at 10:13 pm

#107 Nonplused on 07.19.21 at 9:25 pm

“In 2012 The Republican contender got 61 million votes. It is safe to assume the bulk of these people voted ‘party’ and did so again in 2016 and 2020. It is a fallacy that everyone who voted red in the last contest supported Trump. Get the hell off Parler. – Garth”

So are you saying nobody voted Biden along party lines? I’m not saying your assessment of Trump’s vote is incorrect, but I would apply it to everyone, even Trudeau. I am sure there were plenty of Liberal voters that had to pinch their nose at the voting station too.

Anyway, Trump is gone now and CNN’s ratings are crashing as a result. Somehow he still lives rent free in our heads though.

Stephen Harper could only dream of still being so much on Canada’s mind as Trump still is. And Trump was never really a Canadian problem! Well except for that NAFTA thing. We’ve got to protect the profit margins of the dairy farmers in Quebec after all.

So, Garth, just to explain my point of view: Trump approved Keystone XL and construction was well under way under his administration. Biden cancelled it after billions had been spent, on his first (was it first? Certainly one of the first) day in office with no negotiation and no opportunities for reconciliation, and in defiance of congressional approval for the project. As an Albertan and a Canadian, that alone is enough for me to be persuaded that Trump wasn’t all bad and Biden is. I mean who is the dictator? Trump for going along with a congressional approval or Biden for defying it? That alone is all the spice you need in the chili right there.

Of course if you oppose pipelines (or that particular pipeline but not others), or just hate the oil industry in general, you are going to come to the opposite conclusion. But here in Alberta, we may find Trump as a person just as distasteful as you do, but Biden is our proven economic enemy.

I still blame Trudeau, at least partially. If he hadn’t necessitated Kinder-Morgan’s withdrawal from Canada over the Trans-Mountain pipeline maybe the Americans wouldn’t be so pissed. So add Trudeau to the economic enemies list.

#116 SW on 07.19.21 at 10:17 pm

#81 Dolce Vita on 07.19.21 at 7:33 pm
“Eyes on the UK….”

I really appreciate your efforts, DV. Good info.

However, your Jan 8/July 13 comparison is a little misleading.

On Jan 8 the UK was coming down from the Alpha wave and had a lot of people still in hospital from that. People infected 17 or so days before were dying.

July 13 the Delta wave is just breaking upon them. Deaths are just starting to increase.

Hopefully there will be far fewer serious cases because there are now significant numbers of vaccinated people (their government is certainly hoping so).

Anecdotally, a cousin (double vaxxed with AZ) just caught Covid at a wedding 10 days ago. Dim bulb.

#117 WFH Will Be FOREVER on 07.19.21 at 10:31 pm

DELETED

#118 rknusa on 07.19.21 at 10:41 pm

re: First, in a world sautéed in debt, neither your employer nor your country can be counted on to finance the rest of your life.

CERB and extended benefits HAVE killed the work ethic and the masses await Daddy Trudeau to bring in Universal Basic Income

my friends two teenagers received checks from Daddy Trudeau this week, and they do not even know what for

#119 morrey on 07.19.21 at 10:42 pm

i dislike pitbulls

#120 Sail Away on 07.19.21 at 10:44 pm

“In 2012 The Republican contender got 61 million votes. It is safe to assume the bulk of these people voted ‘party’ and did so again in 2016 and 2020. It is a fallacy that everyone who voted red in the last contest supported Trump. Get the hell off Parler. – Garth”

———–

Voting ‘party’ across the board in the States isn’t super common. I always enjoyed ping-ponging down the ballot voting for people from every party who seemed best. My first Canadian was a shocker. It felt so… constrained.

#121 TurnerNation on 07.19.21 at 10:54 pm

What part of permanent Economic and Social lockdowns is unclear? Yes Australia appears to be the test zone – as some people say. The new global order was uneashed, WW3, that cold winter week in March 2020.
No one is allowed to be sick. Ever.

“Australia’s state of Victoria to indefinitely extend its 5th lockdown despite drop in Covid-19 cases”
https://www.azerbaycan24.com/en/australia-s-state-of-victoria-to-indefinitely-extend-its-5th-lockdown-despite-drop-in-covid-19-cases/


–Hmm let’s see…stop testing healthy people as a pretext of martial law? Naw, this ain’t going away.

People opine: “The entire state of South Australia has just been shut down and restricted over 2 cases (both in the same household). Is it just me, or are they collapsing our economies on purpose? ”

Our global elites will buy up these assets for pennies on the dollar. Et tu, Blackrock?

.Lockdown extended as Victoria records 12 new cases of COVID-19, four additional infections(9news.com.au)
.South Australia ‘moves into lockdown’ after five COVID cases associated with Modbury Hospital cluster (abc.net.au)

.Outbreak of COVID-19 in Mykonos causes week-long nighttime curfew (reuters.com)

…………….

Haha our Global Elites again. If you don’t yet know that we are being played, hard…

https://www.thenationalnews.com/business/2021/07/19/bill-gates-and-george-soros-join-buyout-of-covid-test-developer-mologic/
Billionaires Bill Gates and George Soros have joined the acquisition of UK company Mologic, which helped develop Covid-19 rapid lateral flow tests.

With backing from the Bill & Melinda Gates Foundation, the Soros Economic Development Fund, an arm of Mr Soros’s Open Society Foundations, will invest at least £30 million ($41.1m) to improve the standard of medical technology in the developing world.
…………………..

A reminder in Kanada:

https://twitter.com/TOPublicHealth/status/1275888390060285967
Toronto Public Health
@TOPublicHealth
Individuals who have died with COVID-19, but not as a result of COVID-19 are included in the case counts for COVID-19 deaths in Toronto.

#122 Barb on 07.19.21 at 11:01 pm

“…cases have tripled in the last week with 98% of them among people who refused to be jabbed.”

———————————–
To be very blunt, what’s the problem?
They’ve made a choice, just like the drug-addled tent people.

Must be the heat in B.C. but I’m saving my empathy for folks who actually contribute to society.

#123 Rex on 07.19.21 at 11:11 pm

I’ve been reading on Linkedin that it’s hard now to fund good candidates in Toronto. As an exampme I can say the IT marjet is on fire and a month ago I was getting 7-10 recruiter messages per week. In the meantime, my current corporation (a pension plan) is working to get the people in the office half the time. I can see how some companies will allow their workers to work from home most of the time, some other – half the time maybe. But this, will be an amazing employee retention policy. Because, the person who will want more money, will have to change the job and ditch the idea of working half the week or more from home. On the other side, if the person is an amazing professional, then why not negotiating this when changing the job. In an case, I think that wfh will be a new perk used in the salary and raise negotiation process.

#124 Smartalox on 07.19.21 at 11:13 pm

I think that there’s a big difference between not returning to office life and the commute, and the mild sense of incarceration that comes with it, and ‘Not working full time’.

I’m pretty comfortable using my commute time to walk my dog, then log in via VPN to exchange documents and IM chats with colleagues, or join a teleconference with colleagues located in other cities, countries or time zones.

I can tend to a pot of pasta sauce or move a load of laundry to the dryer with earbuds in and my microphone on mute, making far better use of my time than being on-site, and occupying a seat or an office.

On the other hand, if you don’t want to ‘work full time’ I’d advise doing something with flexible hours, like being a Realtor?

#125 crowdedelevatorfartz on 07.19.21 at 11:19 pm

@#116 Work From Home will be forever

I guess if you consider Gaming in Mom’s basement “work”…..
You’re probably right.

#126 Yukon Elvis on 07.20.21 at 12:18 am

Residents across the Okanagan are reporting ash falling on their homes and vehicles Monday evening.
The ash is believed to be falling from the fires in Washington State as well as the Inkaneep Creek Wildfire that sparked around 4 p.m. Monday afternoon between Oliver and Osoyoos.
Castanet has received reports of falling ash from Penticton, West Kelowna and Kelowna.

https://www.castanet.net/news/Kelowna/340452/Oliver-wildfire-brings-ash-to-region#340452

#127 The Tax Man cometh! on 07.20.21 at 12:37 am

#16 SoggyShorts on 07.19.21 at 4:51 pm

. . . . .

Jason opened up a small hardware store this year and had to buy quite a bit of lumber and tools to get it stocked.
Revenues 300,000
Expenses 500,000
Profit(LOSS) (200,000)

Again, do you really think Dave and Steve should pay the same in taxes? Dave in the top 1% of income and Steve who made less than minimum wage? How about Jason who is already in the hole with his significant bank loan?

________________________________________

I think Jason is an idiot and should give his head a shake. Really, who would be so foolish as to open a hardware store when you’ve got perfectly good Home Depots everywhere?

People need to be accountable for all the life decisions that they make, from choosing the right parents, to lying on their Link’edIn to how hard they will kiss the boss’s butt.

** I had a good friend who told me he once started a business selling donuts. Guess how that one ended …

#128 the Jaguar on 07.20.21 at 12:47 am

About the dog photo today. He’s very ‘Regal’, and I too like his expression. A great photo of him and the coast. I immediately thought’ There is ‘Wrk.dover ‘.

Like #118 morrey on 07.19.21 at 10:42 pm, I too do not like any interaction with this breed. (Pittbull). And when people say ‘There are no bad dogs, only bad owners”, they are ignoring the breeding and the facts. There may be exceptions, but a troubling trend and many headlines.
If you are an owner just don’t be offended if people are uncomfortable. There is plenty of data to back up concerns.

#129 Ponzius Pilatus on 07.20.21 at 12:59 am

This is for Sailo and Nonplussed and other likeminded Trump and Trumplican supporters:

https://www.marketwatch.com/story/gov-ron-desantis-sells-dont-fauci-my-florida-merch-as-his-states-covid-19-cases-spike-11626287447

Politicization of Covid vaccines
The weekend gathering offered a vivid window into the political resistance Biden’s administration is encountering in its efforts to vaccinate Americans against Covid-19 — showcasing the growing opposition to vaccines among the conservative base.
*
Attendees at CPAC cheered author Alex Berenson when he noted that Biden’s administration is falling short of its goal of vaccinating 70% of adults by July 4.

#130 KVC on 07.20.21 at 1:03 am

The Protestant work ethic is a sham. We are hunter gathers. Always will be. Conserve energy to survive not entrench into slaving away for some billionaire’s wants.

Yesterday’s post was messy. Yuck talking about Google. Sure, they pay me but that’s hive mind office mentality. The drones want to go back to the office at that place.

“Covid also led to the conclusion that income and financial stability are societal, human rights. That’s dangerous. They’re not.”

I disagree. Food, water, and shelter are necessary for survival. All that has become a commodity to be traded to the next highest bidder.

#131 Bob Dog on 07.20.21 at 1:29 am

TORONTO — Afghan interpreters who helped Canadian troops on the front lines have yet to hear from the federal government on how they plan to extract them, as many desperately try to escape the resurging Taliban.

What a traitorous criminal corrupt puppet government we have here in in Ottawa.

#132 Diamond Dog on 07.20.21 at 2:30 am

#114 Nonplused on 07.19.21 at 10:13 pm

Big increases in North Dakota oil production killed Keystone XL. All else is noise. A simple look at their oil production increase tells all:

https://shaleprofile.com/blog/north-dakota/north-dakota-update-through-March-2021/

If this isn’t logical enough for you (and it should be), then simply ask yourself why it is that Trump, with 2 years of a Republican congress and 4 years with a Republican Senate couldn’t get the job done? Quick answer, North Dakota production along with added production further down stream. Americans simply filled their own demand.

You gotta stop listening to Alberta politicians who invested 1.3 billion on loser btw, looking for someone else to blame but themselves. Thing is too, it’s not like ND oil production was a secret this last decade?

The decisions to overdevelop production in the tar sands without infrastructure and a secure market were major blunders that begged for both Conservative governments to be replaced… yes, that includes your buddy Harper and so they were. And now this next lot of Liberal politicians is begging to be replaced with horror show deficits and myopic Canadians will likely vote Trudeau back in since financial illiteracy is “a thing”.

I’m majorly disappointed with both parties obviously. Liberals, because they literally shit the bed buying votes with borrowed money. There isn’t much more that I find politically offensive, btw. Biden did the same thing with a trillion dollar giveaway leading up to the last election. Supporters are blinded to it because Dems wanted to see the end of the Trump virtue void but at some point we need to call it out for what it was or is. It’s failed policy.

Garth’s summary nailed it as he so often does. This is not normal government behavior and no one should think in any way that it is because this level of government spending is clearly not sustainable. Some of us have a pretty good idea how it ends and it’s not sunny ways.

And too, just because one team heavily disappoints and plays like a bunch of losers by no means indicates that the opposite team will be much better. It just makes it all the harder to watch.

#133 Planetgoofy on 07.20.21 at 3:01 am

I love crashes and I hope this is the begining of a major corection. Im is $800k cash $300k invested.
I said it months ago Im going to cash BECAUSE:
1. People are extremely bullish.
2. People that know Jack Sh$t about what moves markets are trading like crazies. Tip ( psychology drives valuation more than fundementals) theres more but you figure that out. I Just warned a budy that owns the biggest cabinet shop on Van Isl…trading Bitcon…lol POOF
3. Valuation in most areas are priced to perfection.
4. The boob tube gives you reasons of falling valluations from the review mirror…Funny as hell
5. I don’t sweat it as I’ve got ALOT of solid RE that pays me alot so if the market goes to hell my life goes on. LOVE your CASH flow RE…Location LOCATION. At the increases in buiding cost the last few years pushed me millions in equity. Im NOT a buyer now.
If we continue to slide ILL throw the farm at it…..I was 90% in cash just before COVID rammed us.
Theres more but bed time.
CRUSH THE HEARD.

#134 Planetgoofy on 07.20.21 at 3:17 am

PS Also we could see a protracted Bear?….Ill figure that out shortly…
Don’t care myself as my commercial RE pushes me 8% and we are at 2.5% increase annually and NOT dictated to like residential RE.
The worlds awash in stupidity.

#135 Joseph R. on 07.20.21 at 3:18 am

#106 Nonplused on 07.19.21 at 9:21 pm

[Rant]

——————————————————

MAGA refers to Trump’s base.

I don’t require CNN to know what Trump’s base believes in; Visit a Fox News Comment section to get it straight from the source.

In the MAGA world, it is often said that they understand Trump better than all of us since he is un-PC and “tells it like it is”. I feel free to take them at their word.

“Trump got the most votes of any presidential candidate ever!”

How does its matter? He does not believe the election was valid and true; he claims it was fraudulent, except for the parts where He and other Republicans win; these results were real.

#136 Under the radar on 07.20.21 at 5:57 am

#98 I have a 50 acre hobby farm close to a few working farms.
farmers are the hardest working people I have ever known. Unbelievable the labour and capital required to make a living at it not to mention what Mother Nature dishes up.

#137 Wrk.dover on 07.20.21 at 6:10 am

#98 Heath Slee on 07.19.21 at 8:50 pm

I’m a lifelong 3rd generation farmer now in my 70’s living a life similar to many small cattleman struggling to stay afloat amid crop yields that are non existent or 40-50% of normal.
_________________________________

Hats off to multi-generational farmers, whom without we would starve to death. It’s hard to imagine that there can be any first gen farmers left with a farm by now.

Dog bless ’em if there are, they need the blessing.

#138 Steven Rowlandson on 07.20.21 at 6:42 am

The western world is effectively a human mouse utopia experiment and it will end in much the same way.
As you sow, so shall you reap.

#139 Rogerhomeinspector on 07.20.21 at 7:00 am

#94 Wrk.dover

If you want to work for yourself yep, an investment is required. If you’re employed your employer supplies everything, at least mine does.

And there’s a flip side- our average kitchen just for cabinetry right now is running about $50k. These folks with big incomes pay big bucks to get anything done. Myself, I can complete any home reno project on my own for almost no cost. And having contacts in the field, I can always barter my services with the gas fitter or electrician etc….

And I’m curious- median HOUSEHOLD income in Canada is $68,000ish. Guys at our shop are making about $70k a year with benefits and working 8 hour days and get to walk away after 3:30 with a sense of actually having done something productive. How many people with a university education can pull down a base income like that working 2000 hours a year and actually enjoy what they do?

#140 TN's lapdog on 07.20.21 at 7:25 am

DELETED (Anti-vax)

#141 Dharma Bum on 07.20.21 at 7:49 am

Hey kids, guess what?

You will be going back to work, whether you like it or not.

No free lunch.

Get over it.

#142 Phylis on 07.20.21 at 7:57 am

#97 S.Bby on 07.19.21 at 8:50 pm
Canadian Tire Bank just announced an interest rate increase to 1.25% on their savings accounts.
Xxxxxxx
Looks like a decrease to me. (It was 1.55)

#143 Shawn on 07.20.21 at 8:05 am

IF IT IS TO BE, IT IS UP TO ME

Said William H. Johnson. But it’s easier to be a victim.

#144 Shawn on 07.20.21 at 8:08 am

Go Fish?

GIVE A MAN a fish and you feed him for a day. Teach him how to fish and you feed him for his life time. — Old Italian proverb.

Give a man a massive mortgage and he will be your slave for many years. — New Bankers Proverb

#145 crowdedelevatorfartz on 07.20.21 at 8:27 am

@#130 Bob Dog
“Afghan interpreters who helped Canadian troops on the front lines have yet to hear from the federal government on how they plan to extract them, as many desperately try to escape the resurging Taliban.

What a traitorous criminal corrupt puppet government we have here in in Ottawa.”

+++++

I’d say its merely bureaucratic incompetence meets political indifference.

Mr Untouchable Govt Bureaucrat ( “we’ll get back to you on that”) meets Mr Dithers ( “ah, um, er, ah, we, ah, um, we ah, need to ah, consult with, ah, um, our ah people…”) just before an election.

No one on either side of govt will make any major decisions because they might be the wrong decision leading up to an election.
Paralysis…
The Canadian way.

#146 TurnerNation on 07.20.21 at 8:56 am

A reminder that “Fully vacinated” is not a scientific term. It’s a marketing term. And many more contracts have been signed. To hold on to your slim temporary “freedoms” you will be submitting to a yearly needle.

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.””

—-

Economic and Social lockdowns – for years to come. Brining the world to its knees. Build back better eh.

.Singapore: No dining in, social group sizes cut to 2 from July 22 as Singapore returns to phase 2.(straitstimes.com)


— Why work in Kanada? Universal housing, income will be coming.

https://www.cbc.ca/news/canada/manitoba/housing-manitoba-government-federal-funding-1.6108498
Second phase of rapid housing project in Winnipeg given federal funding
In Winnipeg, women, women fleeing domestic violence, Indigenous and Black Canadian communities are given priority.
Launched last October, the RHI is part of the Canadian Mortgage and Housing Corporation, under the National Housing Strategy. The NHS is committed to a 10-year plan to invest $72 billion across Canada to improve housing conditions for Canadians



From the Killing Us Softly Dept – there’s a lot more going on in those home we never will know. Hey they sent the military in…don’t call it WW3.

.Quebec nursing home often gave morphine rather than treat COVID-19 patients, inquest (theglobeandmail.com)
………..

#147 Habitt on 07.20.21 at 8:57 am

Good arguments can be made for both sides of the wfh debate. Things will play out but the trend will imho continue. In the interim a healthy debate is good. No need to ridicule people on either side.

#148 tooshort on 07.20.21 at 9:00 am

#104 Faron. You nailed it! Its flag ponds park in Cow Bay. That’s impressive I know this coastline well but the picture doesnt give out much except the shape of the wave.

#149 Sail Away on 07.20.21 at 9:33 am

#131 Diamond Dog on 07.20.21 at 2:30 am

Big increases in North Dakota oil production killed Keystone XL. All else is noise.

——–

Wrong.

The actual, literal fact is that President Biden killed Keystone XL with a penstroke. All else is speculation.

#150 Brett in Calgary on 07.20.21 at 9:36 am

The vaccine has crashed deaths and hospitalizations. Hope you got yours. – Garth
—————————-
Correct, and you’ll notice that mask wearing did nothing of the sort, like the 11 randomized control trials described. Ten of these RCTs were actually referenced in the WHO’s ‘Non-Pharmaceutical Interventions” document much to the chagrin of some folks.

Trump was a tard, but that doesn’t change the fact that blinded, empirical measurement illustrates that masks do not stop the spread of influenza-like viruses. And, without a remarkable leap in technology, or human hygiene, they never will.

Get vaccinated folks — it actually works.

#151 Sail Away on 07.20.21 at 9:55 am

#127 the Jaguar on 07.20.21 at 12:47 am

I too do not like any interaction with this breed. (Pittbull). And when people say ‘There are no bad dogs, only bad owners”, they are ignoring the breeding and the facts. There may be exceptions, but a troubling trend and many headlines.
If you are an owner just don’t be offended if people are uncomfortable. There is plenty of data to back up concerns.

———-

Yes. It comes down to capacity for destruction.

There are also no inherently bad thermonuclear warheads.

#152 WFH Will Be FOREVER on 07.20.21 at 10:03 am

The disruption in work practices that lies ahead will be fun to watch. From home, lol!

#153 PBrasseur on 07.20.21 at 10:10 am

« Has the pandemic killed our work ethic? Feels like it. The expectations of most people seem to be drifting further and further from reality. » – Garth

Accurate evaluation I think, in so many ways.

Productivity is down all over, private businesses will eventually recover and call back their workers, public sector not so much and will become even more expensive and inefficient…

#154 Jesse on 07.20.21 at 10:19 am

Garth, in those surveys when people say they want to return to the office, they mean ‘occasionally’, not full time.

A recent poll by Leger and the Association for Canadian Studies has found that 82 per cent of Canadian respondents who have worked from home during the pandemic have found the experience to be very or somewhat positive, while just 20 per cent want to return to the office every day.

Almost 60 per cent of those surveyed said they would prefer to return to the office part-time or occasionally, while 19 per cent said they never want to go back.

The top three reasons for preferring to continue to work from home were convenience, saving money and increased productivity.

It’s possible to get your work done from home. Most corporate jobs are bureaucratic and mind numbing, this myth of ‘collaboration’ is a myth. Most people don’t need to be in the office, and as companies believe they can save money eschewing pricey office space, WFH will reign.

#155 joe kahn on 07.20.21 at 10:37 am

IMO, we are no out of the woods with respect to the COVID. I have come to terms with living with COVID. I got both the vaxxes and always wear masks Even when walking on the beach.

#156 Damifino on 07.20.21 at 11:27 am

In the coming years people who’s job involves a highly specialized skill set and perhaps capital investment in a truck full of expensive tools will find the competition growing thin around them.

If you are in your twenties it would be an excellent idea to eschew liberal arts diploma-mill academia and go to technical school. Get a skill that will be in perpetual demand that simply can not be done from home.

Then learn to properly save and invest the excellent, steady money you will no doubt earn. Stay current, be competitive, get rich slowly and above all, be happy.

#157 Ponzius Pilatus on 07.20.21 at 11:52 am

#150 Sail Away on 07.20.21 at 9:55 am
#127 the Jaguar on 07.20.21 at 12:47 am

I too do not like any interaction with this breed. (Pittbull). And when people say ‘There are no bad dogs, only bad owners”, they are ignoring the breeding and the facts. There may be exceptions, but a troubling trend and many headlines.
If you are an owner just don’t be offended if people are uncomfortable. There is plenty of data to back up concerns.

———-

Yes. It comes down to capacity for destruction.

There are also no inherently bad thermonuclear
———————-
Or inherently bad weapons of mass destruction.
Especially those that were never found.

#158 Barb on 07.20.21 at 12:02 pm

Two 7/11 stores closed here in North Okanagan of BC.
Sign on window “closed, staff shortage”.

#159 Ponzius pilatus on 07.20.21 at 12:04 pm

Freedom day in Britain

https://www.spiegel.de/fotostrecke/cartoon-des-tages-fotostrecke-142907.html#bild-53fcca08-4182-4f17-9743-0a1b3416d068

#160 Quintilian on 07.20.21 at 12:11 pm

#155 Damifino

“If you are in your twenties it would be an excellent idea to eschew liberal arts diploma-mill academia and go to technical school.”

You are wrong on this. The universe has many secretes. God reveals these secretes to philosophers and poets.
You cannot learn that in technical institutions.

We can use software to design and robots to build things.

#161 SoggyShorts on 07.20.21 at 12:51 pm

#126 The Tax Man cometh! on 07.20.21 at 12:37 am
#16 SoggyShorts on 07.19.21 at 4:51 pm
I think Jason is an idiot and should give his head a shake. Really, who would be so foolish as to open a hardware store when you’ve got perfectly good Home Depots everywhere?

People need to be accountable for all the life decisions that they make, from choosing the right parents, to lying on their Link’edIn to how hard they will kiss the boss’s butt.

************************
Home Depot net profit margin is 10%
Home Depot revenues are 100B+

They’re dead too if taxation were based on revenues.
There’s zero chance that they survive paying taxes on 100B instead of the 10B

No one can survive a 1,000% increase in taxes.

#162 Chauncey on 07.20.21 at 1:29 pm

And the markets come back to grow again.

Everything is fine…..in the garden

#163 crowdedelevatorfartz on 07.20.21 at 1:57 pm

@#157 Barb

“Two 7/11 stores closed here in North Okanagan of BC.
Sign on window “closed, staff shortage”.”

++++

Yep.
Thank Trudeau and his generous CERB/EI cash handouts.

#164 tbone on 07.20.21 at 2:16 pm

Plumbing, Hvac , electrical .
You will always have a job if you are a tech in those fields. Every building has it .

#165 Diamond Dog on 07.20.21 at 2:22 pm

#161 Chauncey on 07.20.21 at 1:29 pm

The media blamed yesterday’s selloff on the Delta of which I don’t see a major risk developing in North America due to vaccine participation rates here but I definitely see a risk of Delta on global GDP.

https://www.cnn.com/interactive/2021/health/global-covid-vaccinations/

Indonesia for example, was second in the world behind India for cases 2 days ago. Not so surprisingly, Indonesia is at 11% vaccinated while India is at 15%. We might dismiss to easily what the significance of this is thinking about historical economic norms, but India had become the world’s 5th largest economy in terms of nominal GDP, at least until lately:

https://www.weforum.org/agenda/2020/02/india-gdp-economy-growth-uk-france/

It’s going to take time for the rest of the world to catch up to what has happened in North America in terms of vaccination rates. Couple this with Delta and it’s an interesting winter ahead.

#166 Love_The_Cottage on 07.20.21 at 2:39 pm

Yesterday this pathetic, paleo (fully dosed) blog suggested WFH won’t last.
______
This has become pointless. Some people worked remotely before. Lots more over the past 18 months. Many, but not all will be going back. The trend is for more people to work outside the office, exact percentage to be determined. It isn’t a question with a yes/no answer and it never was.

#167 Damifino on 07.20.21 at 3:19 pm

#159 Quintilian

You are wrong on this. The universe has many secretes. God reveals these secretes to philosophers and poets. You cannot learn that in technical institutions. We can use software to design and robots to build things.
———————————

Who do you suppose designs the software?

Anyway, I don’t recommend eschewing the fine arts, themselves, only those subsidized money grubbing institutions that pretend to teach it.

Study the classics on your own time. I highly recommend that. But if you want to be comfortable and economically secure, learn to do what is in demand.

#168 NSNG on 07.20.21 at 4:20 pm

#160 SoggyShorts on 07.20.21 at 12:51 pm

Home Depot net profit margin is 10%
Home Depot revenues are 100B+

They’re dead too if taxation were based on revenues.
There’s zero chance that they survive paying taxes on 100B instead of the 10B

======

If their profit margin is 10% then they would be paying 1.2 billion in taxes (12%). Under the revenue tax, their tax rate would thus be 1.2% or 1.2 billion. You do understand what revenue neutral is, don’t you?

The only difference is they would not be able to hide their tax liabilities by hiding profits.

And who charges $100 for a haircut? They only have $1 in shampoo expenses? Where do they cut your hair? The parking lot?

Or is it they WFH? I don’t think it’s the haircut they are charging you for but you would probably know better than I.

And if your furniture guy is only making a small margin on the furniture why is it he is selling to me every boxing-day-inventory-clearout-going-out-of-business sale at 70% off?

#169 David Greene on 07.20.21 at 7:13 pm

What an ignorant and short-sighted comment. Who do you think inbred all those dogs to hyper-accentuate their fighting tendencies?

==============================
#128 the Jaguar on 07.20.21 at 12:47 am

About the dog photo today. He’s very ‘Regal’, and I too like his expression. A great photo of him and the coast. I immediately thought’ There is ‘Wrk.dover ‘.

Like #118 morrey on 07.19.21 at 10:42 pm, I too do not like any interaction with this breed. (Pittbull). And when people say ‘There are no bad dogs, only bad owners”, they are ignoring the breeding and the facts. There may be exceptions, but a troubling trend and many headlines.
If you are an owner just don’t be offended if people are uncomfortable. There is plenty of data to back up concerns.

#170 Sail Away on 07.21.21 at 10:23 am

#169 David Greene on 07.20.21 at 7:13 pm

What an ignorant and short-sighted comment. Who do you think inbred all those dogs to hyper-accentuate their fighting tendencies?

———-

Um… someone else but not Jag?

It is quite ok, healthy even, to not accept all the collective guilt of the human race.

Unless one is the Messiah. Then go for it. Include white guilt.