Space Force

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DOUG  By Guest Blogger Doug Rowat
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Billionaires are hurling themselves into space faster than Andre De Grasse runs the backstretch.

But what can this new billionaire-driven space-race possibly signify? As a Bay Street guy used to a flood of market research, I knew that someone was eventually going to tell me. Enter the Financial Star with its catchy “Trillion Dollar” headline:

Space Cowboy

Source: The Financial Star

And the Financial Star makes a persuasive case for the “space economy”:

Space Tourism could be huge. Like air travel, the rich will buy first but as costs trend lower it may become normal for average people to add going to space to their bucket lists…

UBS has already estimated that the space economy will be worth $805B by 2030. Estimates put the current value of the space economy at around $400B. What other industries will double by 2030? Not many.

Well, maybe many.

According to Market Data Forecast, the Internet of Things is expected to grow from US$330 billion to US$875 billion by 2025. According to IDC, the artificial intelligence sector is expected to grow from US$328 billion to US$554 billion by 2024. According to Deloitte, the global electric vehicle market will grow from 2.5 million units in 2020 to 11.2 million units in 2025.

According to PwC, the virtual reality segment of the gaming industry will grow from US$1.8 billion in 2020 to US$6.9 billion in 2025. According to Research and Markets, the global cloud-computing market is expected to grow from US$371 billion in 2020 to US$832 billion by 2025. According to the Winklevoss twins, Bitcoin will be worth US$500,000 “inside this decade”. You get the idea.

Will all of these growth forecasts come to fruition? Of course not. But is the technology sector collectively still an essential investment? Absolutely. Despite the collapse of the Dot-com bubble, it turns out that the Internet actually worked out pretty well. So did an endless array of hardware devices and software applications.

However, for every Amazon.com there was a Pets.com. For every Apple iPhone there was a BlackBerry Storm. And this will always be the case with the technology sector: for every great success there’ll be a dismal failure. Even this past week, we saw the EV success story of Tesla juxtaposed against the absurd comedy of EV truck start-up Nicola, which has seen its share price plunge almost 35% in the past month. It turns out that developing an electric truck is a bit harder than simply rolling one down a hill.

But it’s not just individual companies that fail. Sometimes the bigger ideas fail as well. Remember when everyone was supposed to be wearing smart glasses by 2019? Or travelling to work in hyper-loops? Also, if I’d believed the 3-D printing experts a few years ago, I would have expected that a printer would already be sitting in my bathroom printing me out new toothbrushes. And we’re all still waiting on cold fusion (or is it fission?) to solve the world’s energy problems.

So diversification is important within the technology sector. You’ll have exposure to the duds, yes, but you’ll also have exposure to the successes. Below are the technology-sector weightings for a few of the major equity-benchmarks, which are all easily owned through ETFs. I excluded the S&P/TSX Composite, which should be owned for many reasons but not necessarily for its technology content, because a single stock—Shopify—represents almost all of it. However, by owning the below indices, well-diversified tech exposure is achieved:

  • S&P 500: 27% Information Technology
  • Russell 2000 (US small-caps): 14%
  • MSCI EAFE Index (Europe, Australasia, Far East): 9%
  • MSCI Emerging Markets Index: 20%

While there are countless great ideas in the technology sector (always, of course, accompanied by spectacular growth forecasts), many specific companies won’t make it, many ideas will be ahead of their time and many ideas will simply be complete busts. With this in mind, space tourism may indeed become a thing, but I’ve yet to travel even in a self-driving car let alone on a spaceship.

Collectively, technology is a transformative force that investors must have exposure to, but individual segments and individual securities can easily flop. Like all areas of investing, technology demands diversification.

Because sometimes when a man in a cowboy hat hurls himself through space on a rocket it signals something great. But sometimes…it doesn’t.

Doug Rowat, FCSI® is Portfolio Manager with Turner Investments and Senior Vice President, Private Client Group, Raymond James Ltd.

 

99 comments ↓

#1 crowdedelevatorfartz on 08.07.21 at 9:26 am

Ahhhh.
Slim Pickens in Dr Strangelove.
Possibly one of his best roles.

As he picked through the emergency survival kit items for each crew member on board the B-52 nuclear Bomber flying over Russia he said,
” Hell. A feller could have a good time in Vegas with all this stuff.”

#2 New Word on 08.07.21 at 9:51 am

Help me get a new word into the dictionary fellow bloggers.

bazos (never capitalized!)

– to swindle others or to take advantage of less fortunate
– to not perform, to not last long. i.e. to not even make it last 11 minutes. To not even go “around the world” once.

Example do use:

We got to my place and he pulled a bazos!
Another email from an African prince trying to pull a bazos.
Let’s pull a bazos on that worker’s union.

Let’s get it out there in use. If all goes well it will be one of the new words to get into the dictionary in 2021, and a good fun thing to come out of this space farce.

#3 G on 08.07.21 at 10:31 am

The movie Dr. Strangelove is a classic for sure, worth seeing at least once! (Don’t even get me started on the water LOL)

Didn’t we the people buying stuff on Amazon pay for the ticket on the rocket for some after all.

This was posted on Aug 3rd, 22min YT. After Skool
I found it interested to think about, someone else might too give current events or even that 50’s duck and cover…

MASS PSYCHOSIS – How an Entire Population Becomes MENTALLY ILL
https://www.youtube.com/watch?v=09maaUaRT4M

#4 wait there on 08.07.21 at 10:34 am

Anyone calculate the carbon dioxide emissions for 30 minute joyride into space ? At the same time these same dudes and dudettes are going tell me about climate change and then step into their private jets.

#5 The joy of steerage on 08.07.21 at 10:38 am

DELETED

#6 Dogman01 on 08.07.21 at 10:42 am

Technoolgy, etc.

I have been in rooms with smart people where I saw those serious people swayed by a Tech Charlatan.
Not to insult the boomers, but at the executive levels they often were so wary of being perceived as not current with new Tech , that these Tech snake oil salesmen could bamboozle them.
A few of the wise I recall, outside of the executive meeting , would reach out and start asking a few questions.

https://www.youtube.com/watch?v=v4z_9NcIJXI

IBM sure shafted the Feds with Phoenix payroll….”wow a machine that will do everything, get me some of that!”

Now that Tech is more broadly understood in the C Suite, I am sure ESG shenanigans will fill the gap.

“When I was young and naïve, I believed that important people took positions based on careful consideration of the options. Now I know better. Much of what Serious People believe rests on prejudices, not analysis. And these prejudices are subject to fads and fashions.” – Paul Krugman

#7 Cheese on 08.07.21 at 10:53 am

Been invested in LIT Lithium and Battery index for some specific exposure, its been doing nicely.

#4 wait there
I think the bezos rocket was liquid Hydrogen/O2 mix, other than the energy required to cool and/or split the Hydrogen, its probably not as much as you’d think. Also since its going straight up with no burn for orbit, its much less energy than a conventional launch, that’s why the rocket is so small. I could be totally wrong however.

#8 Felix on 08.07.21 at 11:06 am

The best investment would be if Branson and Bezos joined forces to create a rocket company to deport all dogawful mutts to outer space.

Worth trillions for this planet.

#9 Dharma Bum on 08.07.21 at 11:08 am

When I was a kid, my dad used to tell people that I was studying astronomy is school.

What he meant was that I was really just taking up space.

#10 the Jaguar on 08.07.21 at 11:10 am

Check out Branson with the Union Jack on his uniform. Seems like everything these days whether it’s cars, homes, or trips (even to outer space) is about bragging rights. You couldn’t pay me a million dollars to go up in space. I’ll stick with being a passenger on the Billy Bob Express. No subterranean adventures either. Too creepy.

Doug is so right about the growth forecasts and the ‘next big thing’ that will eliminate ‘all present day applications’. Last time I checked people were still buying books. The kind printed on paper. Those electronic types don’t hold up so well at the beach against sea water or when you spill your mojito.

With all the ‘EV everything” from soup to nuts, how will the electrical grid hold up? And didn’t we learn a little something recently about where all these annoying little semi -conductors are manufactured and where their materials are mined? To get all those precious little minerals out of the ground you need something called diesel. Guess where that comes from? I live in a province that has more sun and wind than most, but just take a seat near the # 2 highway that runs north and south and count the transport trucks. Better take a pitch counter with you.

Great post, Doug. I like the realism in it. “Diversification”. Kind of like “Don’t count your chickens before they’re hatched”.
And Branson: get a damn haircut. This ain’t the sixties.
Mercy.

#11 Yukon Elvis on 08.07.21 at 11:10 am

With most of the City of Vernon already under evacuation alert, new alerts have been issued for parts of Coldstream and the North Okanagan Regional District due to the White Rock Lake wildfire.

https://www.castanet.net/news/Vernon/342189/Multiple-new-wildfire-evacuation-alerts-for-Vernon-Coldstream-Swan-Lake-RDNO#342189

As transmission of COVID-19 continues to rise rapidly across the Central Okanagan, hospitalizations have begun to follow suit, resulting in more restrictions placed on the region.

https://www.castanet.net/news/Kelowna/342202/Dr-Henry-announces-more-COVID-19-restrictions-in-Central-Okanagan#342202

#12 Joseph R. on 08.07.21 at 11:12 am

#6 Dogman01 on 08.07.21 at 10:42 am

“When I was young and naïve, I believed that important people took positions based on careful consideration of the options. Now I know better. Much of what Serious People believe rests on prejudices, not analysis. And these prejudices are subject to fads and fashions.” – Paul Krugman

We were told by Reaganomics that their wealth will trickle down anytime now.

Maybe the GOP is right: Bezos, Zuckerberg, and Musk simply deserve more tax cuts and the magic will happen.

#13 B from Q on 08.07.21 at 11:13 am

Haven’t seen it anywhere in the news in the climate change section or in the space flight PR articles what the carbon footprint of one flight into space is. Any of you the blog dogs calculated it?

#14 Smarter on 08.07.21 at 11:16 am

3 minutes of weightlessness with Bezos? Your kidding right? It’s being tossed around that a quick space snuggle with Jeff will go for a cool $250 USD.

Here’s my alternative: I can rent a gorgeous Russian ‘inflencer’ and set my feet up in a beach front Bali pool villa for months and still have cash for Round Two with a Swedish bikini model. You choose wrong…not my problem. ‘Space Tourism”? Are you serious?

#15 Russ on 08.07.21 at 11:16 am

As per TurnerNation, we are at the end of the world as we know it.

https://www.gocomics.com/calvinandhobbes/2021/08/07

It’s The End Of The World As We Know It (And I Feel Fine)
https://www.youtube.com/watch?v=Z0GFRcFm-aY

as recommended by Doug & Crowdie (with full title),
check out the movie:
Dr. Strangelove or: How I Learned to Stop Worrying and Love the Bomb

Don’t worry. Be happy.

Cheers, R

#16 crowdedelevatorfartz on 08.07.21 at 11:18 am

@#4 Their weight
“Anyone calculate the carbon dioxide emissions for 30 minute joyride into space ? At the same time these same dudes and dudettes are going tell me about climate change and then step into their private jets”

++++

Yep.
Blasting off into low earth azimuth for 1 minute of “weightlessness”…..brutal waste of resources.

But when you’re a billionaire…who cares what everyone else thinks right?

Speaking of billions.

The Tokyo Olympics.
US 15.4 billion and the covid spread is a bonus.
Next up on the Olympic tv revenue cash cow….

The Beijing 2022 “Winter” Olympics.
The smog, dust and Covid spread should be “Olympian”.

#17 Flop... on 08.07.21 at 11:26 am

In summer of 1999, I walked into billionaire Paul Allen’s bedroom of his pad in London’s
Holland Park, where Richard Branson was supposedly a near neighbor.

“Check this out!” yelled my co-worker.

He had a remote controller in his hand and hit a button and a flatscreen t.v came rising up out of the thin sliver of wood that makes up the end of a bed.

No cords or clutter to be seen, I stood there mesmerized, my most recent t.v at the time was a Sony, old school, heavy, chunky, the size of a bank safe, so this was a glimpse into the future for sure.

Admittedly, previously I had lived a sheltered life, for a long time I only knew one guy with the old brick mobile phone, and I didn’t get an email address or do anything on a computer besides play games until around the turn of the century too.

I remember for a long time after that day in Paul Allen’s bedroom thinking if I would ever get a t.v like that.

I stopped backpacking and eventually got the flat screen but never bothered hiding it away in the foot of the bed.

I still like a lot of older products though and usually don’t upgrade until I can’t fix something anymore.

I just can’t cut the cord…

M47BC

#18 Victor V on 08.07.21 at 11:44 am

Another high growth sector is US cannabis (not Canada)

https://www.cannabiz.media/blog/data-shows-the-future-of-the-cannabis-industry-is-all-about-growth

According to the data in the 2021 Annual Marijuana Business Factbook, U.S. cannabis sales will climb to $48.4 billion in 2021 – a 31% increase over 2020 sales ($36.9 billion). The majority of sales (54.55%) will happen in the adult-use market ($26.4 billion) with the medical market not far behind ($22 billion). In 2020, the same ratio in sales happened with 54.20% of sales going to recreational consumers.

Growth is expected to continue well beyond 2021. In 2025, Marijuana Business Daily projects legal U.S. cannabis sales could hit $84.3 billion with $45.9 billion of those sales (54.45%) happening in the adult use market.

#19 The joy of steerage on 08.07.21 at 11:54 am

#8 Felix on 08.07.21 at 11:06 am
The best investment would be if Branson and Bezos joined forces to create a rocket company to deport all dogawful mutts to outer space.

Worth trillions for this planet.
……

Cats flipping in space…

Link deleted

#20 wait there on 08.07.21 at 11:57 am

DELETED

#21 Trickle Down on 08.07.21 at 12:01 pm

#12 Joseph R.

Too bad capitalism (even the extremely weak version we have) hasn’t worked for you.

My grandparents were destitute, child labourers who arrived in Canada as part of the British Home Children.

My parents raised my siblings and me in a tiny house in the worst part of town and still had to rent out the upstairs bedrooms to make ends meet. We slept in home made bunks in what was supposed to be the living room.

My siblings and I are all now living very comfortably, retired, cruising on our boats (yes we all have one, in my case two) taking trips whenever we want, helping the kids out.

I never dreamed I could be this well off.

Thank you President Reagan (since he seems to be the one you blame for this state of affairs, although I think it’s more due to a good work ethic and great parents).

#22 Bartman on 08.07.21 at 12:04 pm

Any thoughts on Bitcoin going forward?

#23 Doug Rowat on 08.07.21 at 12:06 pm

#18 Victor V on 08.07.21 at 11:44 am

Growth is expected…

—-

The 3 little words that have brought down the most Bay Street weed analysts.

—Doug

#24 The Joy of Steerage on 08.07.21 at 12:09 pm

Austin powers was on top of all this…

https://www.youtube.com/watch?v=5WCoRGbT3CM

#25 Space Junk on 08.07.21 at 12:10 pm

The whole space thing seemed a joke to me until I heard about Musk’s Starlink, which was a godsend to me in my rural location.

It’s the only real way I can see that ‘space’ makes any money. The rest is junk. And if they are going to flood the sky with junk, I might as well make a few $$ out of it. Along with my speedy internet.

I looked into how to invest in it since I think its potential is vastly underestimated, even by the most bullish.

Only way for a small player like me is to buy GOOGL.

Hated to do it as I don’t like the censorship policies of big tech, but held my nose and bought anyway.

Starlink is a tiny little part of GOOGL, but it’s one more addition to a company that has a lot of great parts.

Just wish they weren’t so opposed to free speech in ‘free’ countries and so beholden to dictators in other places.

On the other hand, I guess they are being consistent, they just censor what they are told to.

#26 Ponzius Pilatus on 08.07.21 at 12:14 pm

88 Dharma Bum on 08.07.21 at 11:30 am
Human societies develop into tiered hierarchies.
The Indians have their caste system.
The Brits have their social class system.
The Yanks have their wealth class system.
Us Canucks, well, we have, homeowners, home mortgagees, and renters.
Homeowners (those that actually OWN their homes outright) rule the roost. The Canadian Upper Class.
The mortgaged – with some decent equity – are middle class.
The renters are the lower class.
That’s how our society views it.
It’s just the way things are in this backwater of a country.
—————————
Correction:
The Caribbean Pirates had no class system.
In Vienna, Austria, renters comprise over 70% of the population.
And it is frequently voted in as The Best Place to live.

#27 crowdedelevatorfartz on 08.07.21 at 12:17 pm

@#21 Trickle Down
“My siblings and I are all now living very comfortably, retired, cruising on our boats (yes we all have one, in my case two)”
++++

Is it hard to steer both boats at the same time?

#28 Ponzius Pilatus on 08.07.21 at 12:22 pm

As for the Trillion space economy:
One accident with casualties, and it’s all poof.
Invest in fire fighting equipment.

#29 the jaguar on 08.07.21 at 12:22 pm

@ 11 yukon elvis.
Devastating. Coldstream is the gem in that area. Part of highway 97 closed. This seems biblical. At the height of their tourist season. These fires on top of all that has happened. Incredible.

#30 TurnerNation on 08.07.21 at 12:41 pm

XBI.US is a strange ETF. Biotech. I hear that it’s heavily shorted? It goes up only 1, maybe 2 days then flops
https://finviz.com/quote.ashx?t=XBI

–The Stock Market. The Old System must be torn down Comrade. Global rules, now

https://www.cnbc.com/2021/08/06/sec-approves-nasdaqs-plan-to-boost-diversity-on-corporate-boards.html
SEC approves Nasdaq’s plan to boost diversity on corporate boards
The SEC on Friday approved Nasdaq’s push to require race and gender disclosures in its listing rules.
The first-of-its-kind proposal would require companies listed on the Nasdaq to meet certain minimum targets for gender and racial diversity of their boards.
Nasdaq’s goal for most U.S. companies is to have at least one woman director in addition to another board member who self-identifies as a member of a racial minority or the LGBTQ community.


— Again we being sold on permanent rolling lockdowns – into 2025 reset. There is no more news only Manufacturing of Consent.
The war is not meant to be won! This is Global WW3

.UK Government draws up contingency plans for ‘firebreak’ lockdowns over winter(inews.co.uk)

.Israel vaccinated fast and looked like it had beaten COVID-19. It just brought back a swathe of restrictions amid a Delta surge (businessinsider.com)

— Small business destruction. Many blog dogs called this out in Q1 2020. Mainstream finally allowing some ink.

‘Delta’ hysteria is another hammer blow to already flattened small businesses- Opinion Piece (nypost.com)

— Iceland does not mince words. Guess who is in the majority? Unknown if High cycle PCR tests are partially to blame…

https://www.covid.is/data
“Number of vaccinated individuals among domestic infections”

#31 earthboundmisfit on 08.07.21 at 12:47 pm

“We were told by Reaganomics that their wealth will trickle down anytime now.

Reagonomics / trickle down was just the polite way of saying the rich pissing on the poor.

#32 Amazong on 08.07.21 at 12:47 pm

#3 G on 08.07.21 at 10:31 am

Didn’t we the people buying stuff on Amazon pay for the ticket on the rocket for some after all.

______________________________________

Yes … you did. And don’t you know it. The rabble-rousers in the steerage section are some of the most prolific hypocrites on the planet. But of course they will collectively deny their role … and blame it on others! They are a pathetic bunch.

I can hear them scurrying about at their keyboards trying to think of something to exonerate themselves.

#33 Joseph R. on 08.07.21 at 12:55 pm

#21 Trickle Down on 08.07.21 at 12:01 pm

[Strawman argument]

—————————————————-

Capitalism does not equal Reaganomics (Trickle down and supply-side economics). Your story could have happened in Western Europe, Nordic countries, Japan, etc….

Capitalism has evolved in many directions since the publication of Wealth of Nations.

Canada did not embrace Reaganomics.

#34 Smokanagan on 08.07.21 at 12:59 pm

#11 Yukon Elvis on 08.07.21 at 11:10 am
With most of the City of Vernon already under evacuation alert, new alerts have been issued for parts of Coldstream and the North Okanagan Regional District due to the White Rock Lake wildfire.

https://www.castanet.net/news/Vernon/342189/Multiple-new-wildfire-evacuation-alerts-for-Vernon-Coldstream-Swan-Lake-RDNO#342189

As transmission of COVID-19 continues to rise rapidly across the Central Okanagan, hospitalizations have begun to follow suit, resulting in more restrictions placed on the region.

https://www.castanet.net/news/Kelowna/342202/Dr-Henry-announces-more-COVID-19-restrictions-in-Central-Okanagan#342202

___________________________________________________________

Here in the Smokanagan, we think differently than you city folk.
In case you didn’t know, COVID does not like smoke. So we’s plannin to smoke it out!

BTW, where I live … Surrey-by-the-sea, our shacks just went up another 4%, month over month. Maybe time to sell to them there red license plate folks with deep wallets. By all accounts, by the number of them here, they love the smoke… specially thems with backward ball caps, pickups and tattooze. Nice fellers, but not the brightest lights on the dashboard!

#35 I am serious on 08.07.21 at 1:02 pm

#14 Smarter on 08.07.21 at 11:16 am
3 minutes of weightlessness with Bezos? Your kidding right? It’s being tossed around that a quick space snuggle with Jeff will go for a cool $250 USD.

Here’s my alternative: I can rent a gorgeous Russian ‘inflencer’ and set my feet up in a beach front Bali pool villa for months and still have cash for Round Two with a Swedish bikini model. You choose wrong…not my problem. ‘Space Tourism”? Are you serious?

_____________________________________________________

$250 USD sounds like a great deal … where do I sign up?
BTW, WTF is an “inflencer”? Sounds painful.

#36 BillyBob on 08.07.21 at 1:04 pm

#18 Victor V on 08.07.21 at 11:44 am
Another high growth sector is US cannabis (not Canada)

https://www.cannabiz.media/blog/data-shows-the-future-of-the-cannabis-industry-is-all-about-growth

According to the data in the 2021 Annual Marijuana Business Factbook, U.S. cannabis sales will climb to $48.4 billion in 2021 – a 31% increase over 2020 sales ($36.9 billion). The majority of sales (54.55%) will happen in the adult-use market ($26.4 billion) with the medical market not far behind ($22 billion). In 2020, the same ratio in sales happened with 54.20% of sales going to recreational consumers.

Growth is expected to continue well beyond 2021. In 2025, Marijuana Business Daily projects legal U.S. cannabis sales could hit $84.3 billion with $45.9 billion of those sales (54.45%) happening in the adult use market.

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

Talking to a dude I know, he’s a station manager for Spirit, the bottom-feeder US low-cost airline. They, along with most US airlines lately, have been in the news for their thousands of cancelled flights. Publicly this has been blamed on the lack of pilots and cabin crew.

Which is only partly true. He says the staff shortages go across the board, and they’re desperately short of ground workers. Similar to Canada, it’s not easy to find people to work when they’re paid…not to work.

But the other big problem for them lately is…they hired, for example, 22 people for a training course, and only 8 passed the drug test.

“Stimulus” checks, indeed.

#37 Space Force...right on 08.07.21 at 1:06 pm

More like SPACE FARCE…

As for growth, unfortunately the idiot politicians cannot print Energy and are busy abandoning and destroying the remaining sources of RELIABLE ENERGY

ENJOY THE SLOW DESCENT INTO A NEO MEDIEVAL SOCIETY AND FORGET THE WET DREAMS OF IOT and Green SCAMS…

Signed

MSc in Engineering

#38 kommykim on 08.07.21 at 1:09 pm

The tech boom is also keep those electric company profits and growth booming…

#39 Stone on 08.07.21 at 1:24 pm

So diversification is important within the technology sector. You’ll have exposure to the duds, yes, but you’ll also have exposure to the successes.

———

Uhmmm…how about just having broad based index ETFs which will inevitably have some technology companies in them? No mess. No fuss. No headaches.

On that basis, my yummy, fantastic and orgasmic B&D portfolio is spitting out a 17.00% return YTD as of yesterday.

Amazing!

I wonder if it’ll make it to 20.00% before the end of the year?

#40 wallflower on 08.07.21 at 1:40 pm

What breed is that?

#41 TurnerNation on 08.07.21 at 1:44 pm

If were were what people say it is all international flights and immigration would have been banned — since March 2020. Did not happen. Instead all the flight crew happily shared a confined area with limited fresh air, hours on end.

1.5 years into this and we have? We have no new hospitals built – even given the ramped up immigration numbers and aging populating. The NEVER USED Field hospitals in Toronto, Hamilton, Vancouver and everywhere were torn down.

If the Covid Authoritarians in this comments section want to shut things down well you are advocating racism and poverty and economic warfare. You are the new Clerical Elite – siding with The Party. You are on the wrong side of history. Stay home and consult your TeeVee for further instructions.
Immigrants come here to work, start businesses. Last Saturday one was profiled.

Health Theatre. Theatre of war. This global war is for your mind. It is not meant to be won; like the War of T3rror, War of Drugs, it is ongoing. Decades.
The TeeVee is bizarre these days to say the least. Owelimpic stadium is empty, athletes at their peak are handed flimsy paper masks to be worn as soon as they step off the floor. They must be sick?! That paper will do wonders against an allegedly escaped germ from a Level 4 secure bio lab.
To me this exercise smacks of tearing down the old culture, the old ways. Global rules, now.

——————–
— One thing our global rulers never give away free is, food. Instead of 3 shots why not give the poor areas of the world 3 good meals a day for a year? Proper nutrition a path toward health. Naw ain’t gonna happen.

In fact in Germany in order to BUY food you must submit to something. You no longer have a right to be healthy. The State owns your body. As I’ve been saying this is about control over our Breeding, Feeding, and Travel/Movement.

“If you are not vaccinated or recovered, you need a negative antigen rapid test when shopping. Those affected can also store the result in the CovPass app and the Corona Warning app. FOCUS Online advises: Always download the latest updates of the two apps to your smartphone in order to be able to use both programs to the full extent.”
https://www.focus.de/finanzen/news/der-grosse-ueberblick-haertere-corona-regeln-wohl-ab-herbst-2021-das-soll-beim-einkaufen-gelten_id_13561328.html

— Keep an eye on the food supply. Man-made crisies? Forcing people off their land into the crowded UN Smart Cities?

https://californiaglobe.com/fl/ca-reservoirs-filled-to-top-in-2019-being-drained-by-state/
Facing Dry Year, CA State Water Board is Draining California Reservoirs
CA reservoirs were designed to provide a steady five year supply for all users, and were filled to the top in June 2019
Gov. Gavin Newsom’s recent $5.1 billion drought response package will not be used to create water abundance either. Instead, about $1 billion dollars will be used to pay off now unaffordable water bills that were made too expensive by intentionally creating water scarcity. When water restrictions are imposed, supplier revenues fall. They have fixed costs to deliver water and must raise rates as a result. #UseLessPayMore.

.The State Water Resources Control Board on Friday released an “emergency curtailment” order that would cut thousands off from rivers and streams in the Sacramento and San Joaquin river watersheds. The five-person board still has to vote on the order Aug. 3, and it would take effect about two weeks later. http://www.sacbee.com

#42 Dolce Vita on 08.07.21 at 1:44 pm

Andre De Grasse was great in the 4x100m relay. On the hand off, final leg, Canada was in 5th. He turned that into a Bronze for Canada. If you had given him a few more meters, he would turned the Bronze into Gold.

https://www.youtube.com/watch?v=eHedb6knXa0&t=261s

Still say Damian Warner gets my nod as Canada’s best so far. World’s all around best athlete with that Decathlon Gold. That’s hard to beat. And De Grasse my other hero.

PS: Italia won the Men’s 4x100m (Italia nails “Citius”).

UK’s Daily Mail not happy (Corriere della Sera calling them, in essence, crybabies):

https://i.imgur.com/5PleKji.png

Of course I Tweeted to the Daily Mail:

Not to worry, Tom will knit you something comfy womfy poolside:

https://i.imgur.com/XN2WXY0.png

#43 Joseph R. on 08.07.21 at 1:45 pm

#21 Trickle Down on 08.07.21 at 12:01 pm
#12 Joseph R.

My grandparents were destitute, child labourers who arrived in Canada as part of the British Home Children.

———————————————————

This sentence deserves it own reply. Your grandparents were brought as slave labourers for our farms. Slavery laws didn’t protect children and unlike the UK, Canada never apologized for the British Home Children.

The 1870s-1914 was a transition between agrarian (land as source of wealth) and industrial capitalism (time/labour as the source of wealth) where European Power was at it’s zenith.

Slavery was an important part of an agrarian society but not industrial capitalism.

WWI and it’s aftermath, the Progressive era, changed all of that and your grandparent/parent were part of the progressive era.

See, 3 generations ago, child slavery was considered normal and even beneficial to Canada.

#44 david lau on 08.07.21 at 1:53 pm

Good article on innovation and growth. Keeping on theme of Innovation and emerging technologies, in contrast to investing in indices below:

I excluded the S&P/TSX Composite, which should be owned for many reasons but not necessarily for its technology content, because a single stock—Shopify—represents almost all of it. However, by owning the below indices, well-diversified tech exposure is achieved:

S&P 500: 27% Information Technology
Russell 2000 (US small-caps): 14%
MSCI EAFE Index (Europe, Australasia, Far East): 9%
MSCI Emerging Markets Index: 20%

what about investing more into NASDAQ 100 fund like QQQ to stick with 100 of the globe’s strongest tech companies where you’ll likely in most years get avg18 % per year? A balanced and diversified portfolio will get 7% which in this case your having more balanced and safe but i also see the world becoming even more technology focused with the themes you discussed even more.

look fwd to your 2 cents
dave

#45 Ken on 08.07.21 at 1:54 pm

I guess that is why the rest of us will be forced into electric cars by 2030. What remains of the oil/gas supply will be required by the billionaires to go on space vacations. Yippe Kay Yay Fudder Muckers!

#46 DON on 08.07.21 at 1:57 pm

In the dot com era we lacked the hard devices (smart phones) for all the software ideas to be realized. I remember saying to friends if only we could get email on our fido flip phones. Now we have the cloud in light of everything being hackable. Better encryption or just a false sense of reality if coonected to the internet.

Doug. There is a documentary comparing Star Trek show technology to the tech we see today…communicator = flip phone and so on. Was the warp drive meant to be cold fusion.

I am waiting to buy a George Jetson flying car. Road dwellers are soo yesterday. I would also buy the morning wake up conveyor belt if WFH is not an option.

#47 Ordinary Blog Dog on 08.07.21 at 2:02 pm

Reading # 6 Dogman01, I thought it could be re-written with pre-boomers and vaccines! Many pre-boomers do not foresee the effects of being unvaccinated, they don’t get the ‘tech’ and are either selfish and/or scared. The result of not vaccinating will be enduring COVID and mutations …. and an unending cycle (contraction and expansion) of restrictions and emergency measures being imposed.

#48 When Will They Raise Rates? on 08.07.21 at 2:04 pm

#12 Joseph R. on 08.07.21 at 11:12 am

#6 Dogman01 on 08.07.21 at 10:42 am

We were told by Reaganomics that their wealth will trickle down anytime now.

———-

No you weren’t. There is no such economic theory called trickle down economics. Cite one economist. You can’t, because it’s a myth, a strawman used by leftists to attack capitalism.

https://m.youtube.com/watch?v=nZPDpk8NA-g

#49 Ponzius Pilatus on 08.07.21 at 2:07 pm

#27 crowdedelevatorfartz on 08.07.21 at 12:17 pm
@#21 Trickle Down
“My siblings and I are all now living very comfortably, retired, cruising on our boats (yes we all have one, in my case two)”
++++

Is it hard to steer both boats at the same time?
————
Nah,
He’s got a Capitano on each of them.
And he flips a coin every day on which one to use.
The rich just live in a different world from us

#50 IHCTD9 on 08.07.21 at 2:09 pm

#17 Flop… on 08.07.21 at 11:26 am

I still like a lot of older products though and usually don’t upgrade until I can’t fix something anymore.

I just can’t cut the cord
———

Same here Flopper. I just fixed our 20 year old Kenmore Washer (again), wouldn’t spin, it was a dead drum clutch. So easy to work on, so cheap to keep running – that’s my kind of technology. Whoever designed this thing was a mechanical genius.

Going backwards with my vehicle too. From fuel injected V8, to mechanically injected diesel. If I like the oil burner, I might put one in my little track loader too.

#51 Paddy on 08.07.21 at 2:11 pm

“Growth is expected”

The 3 little words that have brought down the most Bay Street weed analysts.

,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,

Very valid point about weed stocks Doug. 4 years ago, I inherited some shares of a cannabis company and people thought I was an idiot when I sold them at $14. Yes I felt silly when they skyrocketed and some people made an absolute killing.Well I took the proceeds and put them in a broad based equity ETF….needless to say, I’m not an idiot.

#52 DON on 08.07.21 at 2:18 pm

#23 Doug Rowat on 08.07.21 at 12:06 pm
#18 Victor V on 08.07.21 at 11:44 am

Growth is expected…

—-

The 3 little words that have brought down the most Bay Street weed analysts.

—Doug

************

Weed is easy to grow. If quality isn’t provided and weed gets pricey, people can always revert to growing their own. It’s not rocket science. Criminal gangs are still growing it..
for now at least. Recent busts in the BC lower mainland.

#53 Dolce Vita on 08.07.21 at 2:19 pm

I liked your Blog today Doug. Good change up with the Geriatric Grizzled Space Patrol frolicking in 0 G for 30 sec (and in need of tooth whiteners & flossing).

The Tech Talk was fine and I like it you are rational about some of the future market size claims.

For me it’s simple.

FFS we can even defeat some p!ss ant, teensy-weensy, little virus.

Some Tech we have.

———————–

Liberal Party et. al. minions Tweeting for the past 2 weeks about how Canada is #1 at vaxing is self-congratulatory BS at its best.

Here’s the latest from CTV’s Bug Tracker:

https://i.imgur.com/SH5I99V.png

Gibraltar* #1 at 116.11% fully vaxd.

If anybody should be crowing it would the UK Territories, Rule Britannia!

I also liked it that the Cayman Islands are right up there at #5. Many an artful tax evader happy.

Canada #24.

————

*They have a lot of Spaniards day pass working there. Gibraltar made sure they fully vaxd as well.

#54 DON on 08.07.21 at 2:20 pm

#10 the Jaguar

I hear yah Jag. Commonsense!

#55 crowdedelevatorfartz on 08.07.21 at 2:23 pm

@#24 Steerage
“Austin powers was on top of all this…

+++

Way ahead of his time.

#56 Planetgoofy on 08.07.21 at 2:26 pm

DELETED

#57 kommykim on 08.07.21 at 2:31 pm

RE: #25 Space Junk on 08.07.21 at 12:10 pm
It’s the only real way I can see that ‘space’ makes any money. The rest is junk. And if they are going to flood the sky with junk, I might as well make a few $$ out of it. Along with my speedy internet.

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

Both Bezos and Branson’s tourist vessels are suborbital so absolutely nothing actually gets left up in orbit to clutter things up…. Now those SkyNet, err SkyLink, sats are a different story…

#58 Dragonfly 58 on 08.07.21 at 2:32 pm

Regardless of how you view the cause regarding climate change , man made vs natural and what percentage you assign to either. It’s shaping up to be a very major factor in man’s future.
That and population growth { overlooking Nuclear annihilation } are really the only issues that will define life on this planet , probably for the rest of our lives.
Things like Space Tourism and a better ” I ” device are so trivial compared to the two ” Elephants ” I can’t even believe people give them serious thought.
Like was mentioned above , if you are looking for a sure investment I can’t think of anything better than fire fighting gear.

#59 Ponzius Pilatus on 08.07.21 at 2:34 pm

#31 earthboundmisfit on 08.07.21 at 12:47 pm
“We were told by Reaganomics that their wealth will trickle down anytime now.

Reagonomics / trickle down was just the polite way of saying the rich pissing on the poor.
—————
Another good one:
The rising tide lifts all boats.

#60 Doug Rowat on 08.07.21 at 2:52 pm

#42 david lau on 08.07.21 at 1:53 pm

what about investing more into NASDAQ 100 fund like QQQ to stick with 100 of the globe’s strongest tech companies where you’ll likely in most years get avg18 % per year?

—-

Yes, nothing wrong with tilting a portfolio more towards broad-based technology-sector exposure (or any sector for that matter) if you’re particularly bullish. But the underlying ‘core’ must be balanced and diversified.

I’m mainly arguing against concentrated wagers in niche, speculative technology areas that may or may not pan out. Like space tourism.

—Doug

#61 Planetgoofy on 08.07.21 at 2:57 pm

PS To funny guys here
Venezuela had ALOT of handouts.
Why don’t you pro gov guys and pro T2 dudes head there. Maybe Ill pick up the one way fair…
For REAL they had know idea what they were in for. You don’t either.
You clowns posting should cease and desist for your lack of financial knowledge and history is embarrassing.
I’m just an idiot that figured out a few thing via CRITICAL thinking….. not guessing. I mentioned I built a lemonade stand that T2 couldn’t run? It worth over 10 Mil and I wouldn’t trust the guy to scrub my toilets.
I have a couple lemonade stands. I trust ME, as when you get someone that’s got no flesh in the game meaning, if you fail, you get kicked to the curb….No free lunch EVER. You may just work a little bit harder.
T2 IS A LIAR period and he knows NOTHING about business as do most politicians.
That’s why Garth is not a politician?…To practical I guess as well as Jim Patterson.
Politics is slimey as hell.

#62 Nonplused on 08.07.21 at 3:30 pm

“According to Deloitte, the global electric vehicle market will grow from 2.5 million units in 2020 to 11.2 million units in 2025.”

Unfortunately, a lot of these types of forecasts are based on “wishes and kisses” in that they look at potential demand and government policies designed to influence markets, but the physical constraints are conveniently ignored.

We simply do not have the battery production capacity to produce 11.2 million electric cars in 2025. It takes a while to build a lithium mine and battery factory. It is energy, resource, and capital intensive.

Meanwhile we are making every effort to recycle plastics and have been for years and that still isn’t going very well. Battery recycling is still in its infancy. What are we going to do with all the dead batteries once there are 11.2 new electric vehicles hitting the market every year? These batteries only last 7-10 years whether you use them or not. Then they are garbage. Very expensive and toxic garbage. Batteries are already frightfully expensive. How much will they cost if demand goes up that much?

An ICE automobile, on the other hand, is largely recyclable, save all the plastic parts they use on them these days. But the engine itself is cheaper to melt for new metal than it is to smelt new metal from ore. Highly recyclable.

Plus we haven’t even begun to address where all the extra electricity will come from. We are currently in the early days of attempting to replace darn near the whole electricity supply with green energy to reduce carbon emissions, and they are proposing a massive increase in demand at the same time?

And while electric cars seem cool, word is owners tire of charging them pretty quickly. It just takes too long. A “quick charge” takes most of an hour, and the technology to speed that up currently doesn’t exist. There are physical limits to how fast you can pump the electrons into a chemical battery before you set it on fire.

—————————-

On batteries:

Some years ago I bought an 1800 watt “PowerHub” (won’t say where) which is similar in function to one of these new Jackery’s or other Lithium powered battery “generators”, only it runs on AGM lead acid batteries so it isn’t portable. It seemed like a good way to have some electricity available in the event of a power outage. I used it a few times. But it costs $600 every 5 years to keep it in working batteries! Eventually I gave up. You can get a 7500 watt Firman tri-fuel generator (non-inverter) for $850 at Costco now and if you don’t use it much all you have to do is change the oil once a year and the starting battery every 5 years. As compared to the cost of the AGM batteries it pays for itself pretty quickly and has 4 times the power output (less on propane or natural gas, but still twice the PowerHub). Plus the power available is limited only by how much fuel you have on hand, which in the case of natural gas might be unlimited if the gas mains are still up. 2 AGM batteries gives you about 1.2 kwh and then you are done. No, it won’t run the deep freeze through a prolonged power outage. But the Firman might.

—————————————-

Likewise I don’t see “space tourism” becoming anything but a gimmick for the rich. I don’t even think it is the goal of all this rocketry. Nope. Satellite launches and manned space flight to destinations such as the space station and maybe the moon is the real market, but you have to prove your rockets are safe. That is mostly all they are doing. Musk says he is going to Mars but I don’t think he’ll ever get there. Unlike the space station, which receives regular resupply missions, you have to bring all the food, water, and oxygen you need to survive for 2 or more years with you on launch. An nuclear sub can’t even do that, and it can make its own oxygen and fresh water from the sea. There is no sea in space, so a very critical component is missing.

You can always dream though. Just don’t dream around the engineers.

#63 Ustabe on 08.07.21 at 3:35 pm

So, I’ve spent significant parts of the past few weeks with my kid’s wing of the local Streamkeepers group dip netting salmon fry out of drying pools in streams that no longer have flow and moving them to open water.

Trouble is that open water, moving water is often not very close to the native stream and also the water temp is not ideal but we do what we can.

I also planted an oak and a maple on my property. Paper bark maple and I finally found a curly oak…I hope it is anyway.

I’ll not live to see either the trees or these salmon streams in their glory but I’m working on it for the next guys.

So, like I sponsor the kids wing of my local Streamkeepers for the future, I’ll water my trees and move salmon fry around for the future.

Same as I told my local Conservative Party of Canada riding association…I’ll donate when you find someone to run that isn’t a social con, Trump loving wannabe. Get me someone electable and money will flow.

Always thinking of the future because the past is…past.

#64 Quintilian on 08.07.21 at 3:59 pm

#61 Ustabe on 08.07.21 at 3:35 pm
“Same as I told my local Conservative Party of Canada riding association…I’ll donate when you find someone to run that isn’t a social con, Trump loving wannabe. Get me someone electable and money will flow.”

So sorry to tell you that when evil finds a new home, it tends to overstay its welcome.

Again…so sorry, but you may have to give the donations to the Greens.

#65 Dogman01 on 08.07.21 at 4:22 pm

Trickle Down: the more descriptive and older name was “Horse and Sparrows”.

The Horse gets fed the good stuff, and the sparrows gets what comes out the other end.

“If you feed enough oats to the horses some will pass through to feed the sparrows – John Kenneth Galbraith

https://imgur.com/gallery/zVXpaw7

#66 Two Boats Guy on 08.07.21 at 4:58 pm

#27 CEF

Most people with water access only homes have 2 boats. They aren’t the most reliable you know.

Sometimes you tow one with the other even.

My new boat on order will make things easier, it has two motors, and yes, you steer them both at the same time.

See, you learned a few new things today.

#67 Nonplused on 08.07.21 at 5:00 pm

#13 B from Q on 08.07.21 at 11:13 am
Haven’t seen it anywhere in the news in the climate change section or in the space flight PR articles what the carbon footprint of one flight into space is. Any of you the blog dogs calculated it?

Who cares? It is tiny compared to Bitcoin mining.

#68 More taxes on 08.07.21 at 5:06 pm

#43 Joseph R.

We get it. You just want more taxes. You must think Government does better things with it than the people who earned it would do.

Me, I don’t care who gets tax cuts, as long as somebody does.

BTW, feel free to send in more if you like.

#69 red falcon on 08.07.21 at 5:45 pm

So it just goes to show you can’t read financial pornography and expect to win each and every time you trade a stock.

It’s obvious the correct valuations are being used, so your results will not be optimal (i.e. lose more than you gain).
Use Yield as your guide, buy non-cyclical stocks when they are value priced, hold and prosper. That’s it. it’s really simple. no need to follow some hocus pocus BS from financial touts who are looking to take a few bucks off your pants and more!

#70 The West on 08.07.21 at 5:52 pm

An apt caption to conclude the blog Doug.

Dr. Strangelove: How I learned to Stop Worrying and Love the COVID

#71 Grunt on 08.07.21 at 6:05 pm

The Space Force don’t qualify as astronauts apparently.
The Soviet program was cruel to a dog. First wag in space?

I take the point about tech investor diversity. I don’t understand quantum computers and entanglement theory.

The fear of communism and the fluoridation of water leading to impotency. I always liked Sterling Hayden. He was marvelous in The Asphalt Jungle.

#72 Flop… on 08.07.21 at 6:17 pm

This Visual Capitalist article dovetails nicely with Robax’s article on here today.

Visualizing the Gravitational Pull of the Planets.

Personally, I like a quick ball drop…

M47BC

https://www.visualcapitalist.com/visualizing-gravitational-pull-of-planets/

#73 cuke and tomato picker on 08.07.21 at 6:56 pm

What’s interesting is my wife does not like Bezos and my son does not like Musk but my wife orders from Amazon
because of the quick service also my son drove 3 electric cars and bought a Tesla yesterday.

#74 Steven Rowlandson on 08.07.21 at 7:01 pm

I suppose these wealthy astronaut wannabee’s will have more credibility when they come back to earth with a hold full of gold or PGMs and may be a video showing the planet they discovered and claimed for themselves.

#75 kommykim on 08.07.21 at 7:37 pm

#59 Ponzius Pilatus on 08.07.21 at 2:34 pm
#31 earthboundmisfit on 08.07.21 at 12:47 pm
“We were told by Reaganomics that their wealth will trickle down anytime now.

Reagonomics / trickle down was just the polite way of saying the rich pissing on the poor.
—————
Another good one:
The rising tide lifts all boats.

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

LOL yea… They assume everyone has a boat.

#76 NoName on 08.07.21 at 7:44 pm

#37 Space Force…right on 08.07.21 at 1:06 pm
More like SPACE FARCE…

As for growth, unfortunately the idiot politicians cannot print Energy and are busy abandoning and destroying the remaining sources of RELIABLE ENERGY

ENJOY THE SLOW DESCENT INTO A NEO MEDIEVAL SOCIETY AND FORGET THE WET DREAMS OF IOT and Green SCAMS…

Signed

MSc in Engineering

Itll happen sooner than you thing, energy powerty is next big thing, when tehy discover that in canada they probably offer us afordable recreational drugs to help us deal with it, in our wooden droughty houses.

We can say say europe is ok more or less decently developed but If you inquire at gargle about it, it show wide range of 50 to 100 mill people that are not able to afford as they say it indoor thermal comfort, out or 750mil that lives in europe.

#77 Kevin on 08.07.21 at 7:57 pm

Great post as always, Doug.

Also, it’s Nikola not Nicola.

#78 Ponzius Pilatus on 08.07.21 at 8:20 pm

#73 cuke and tomato picker on 08.07.21 at 6:56 pm
What’s interesting is my wife does not like Bezos and my son does not like Musk but my wife orders from Amazon
because of the quick service also my son drove 3 electric cars and bought a Tesla yesterday.
———–
I just found out that delivery from Costco costs about 10% more than buying it in the warehouse.
No free lunch, my friends.
Also, interested which other EVs your son test drove.

#79 Ustabe on 08.07.21 at 8:26 pm

The US was a a great country until Reagan.

From deep and long personal experience I can tell you that if you want to stimulate the economy you give money to the poor. The billionaires will still get that dollar but only after it trickles up because the poor need to spend all of their money.

I’m not talking about poverty poor, I’m talking about the working poor.

For 37 years my forward facing business was hospitality, I owned, operated, bought and sold small diners and cafes. If you put a small diner downtown in the entertainment district the rich just walk on by, the poor rarely go downtown except for special occasions so you suffer the fate that all of you are thinking right now….seedy, poorly lit and sort of empty.

But if you find a spot near to a working class neighbourhood but on a street with traffic and parking AND you hire from the neighbourhood, you get your carpets cleaned by a neighbourhood guy, you get your bakery from the neighbourhood, etc. you can make bank.

You give a dollar to a billionaire and he puts it into his back pocket and looks for more. You give that same dollar to one of my servers and she goes home after shift and pays her baby sitter. Who gives the money to her mom who goes out to the local store and buys some groceries, who then sees business improve so they hire some more stockers and cashiers…who celebrate their good fortune by coming to my cafe to celebrate over a milkshake, chips and gravy. My sales go up, I present a good looking set of books to a retired florist from Alberta and she buys the cafe from me. Trickle up.

Rinse and repeat. I generally stayed away from definitely failing places and bought in and around 60 seats doing in and around $500,000. I generally was able to get them to $6 or 700,000 in a year or so with a couple of special case outliers that managed to come close to a million. I hung onto both of those for more than a couple of years tho.

Failures? Yup. But the secret there is to make sure your failures cost you less than your successes. Easy, eh?

Same with laundromats which I ran all through university…mine and my girlfriend, now wife’s, lasted 7 years I think it was and laundromats in walking distance to student housing and take out/pick up only pizza holes in the wall nearby to student drinking establishments are what paid for it all. My wife’s was a professional degree so expensive for the time.

Trickle up because trickle down doesn’t work.

#80 Boats are awesome on 08.07.21 at 8:34 pm

#75 kommykim

“LOL yea… They assume everyone has a boat.”

————————————

You do have to work hard to have a boat, but I’m living proof you can start with nothing and do it.

It’s very funny to watch all the people tell me I can’t succeed in the world I succeeded in.

When I point that out they switch to “yeah but the rich people hate you and won’t invite you to their parties” lol.

Like I want to go to some stuffy party in Point Grey or Rosedale, full of cigar smoking dullards.

That’s not where the party is, believe me.

#81 ImGonnaBeSick on 08.07.21 at 8:34 pm

#59 Ponzius Pilatus on 08.07.21 at 2:34 pm
#31 earthboundmisfit on 08.07.21 at 12:47 pm
“We were told by Reaganomics that their wealth will trickle down anytime now.

Reagonomics / trickle down was just the polite way of saying the rich pissing on the poor.
—————
Another good one:
The rising tide lifts all boats

—-

Yeah, because none of Bezos’ success and wealth has benefitted or trickled down to his 1.3m employees, or the countless companies that have sprouted up to sell on Amazon, or the companies around the Amazon facilities, or that supply equipment to Amazon, or on and on and on… You bunch of dummies… O_o

#82 NSNG on 08.07.21 at 8:37 pm

#22 Bartman on 08.07.21 at 12:04 pm

Any thoughts on Bitcoin going forward?

The play of the day is probably ETH and its smart contract technology. They are currently going through an upgrade cycle that will help them to do the opposite of what government currency does. That is the goal. The government prints currency and dilutes your savings via inflation (a hidden taxation scheme). ETH is looking to be a deflationary crypto that gets more scarce with every transaction (they are not there yet).

I know the crypto zealots will argue that there are better cryptos out there but currently ETH is the second biggest in the crypto realm and could soon eclipse BTC due to greater functionality. It is considered a crypto “blue-chip”.

I’m targeting 30K per coin (currently hovering around 3K).

That said, all the caveats are to be considered. Do your due diligence, never put more than 5% of your net worth into something like that, determine your sell point before you hit the buy button, etc., etc., etc.

And remember, these things are the enemies of the central bank money-printing fraud. That is where the greatest risk lies. But, then again, the internet was the greatest danger to the mainstream corporate media cabal and we see how they were not able to stop that.

#83 George S on 08.07.21 at 8:57 pm

Someone wrote:

“Another good one:
The rising tide lifts all boats.”

Of course it does but notice that the boats are all in the same relative positions in the sea.

——————————————-

For all the EV promoters out there, I think that most power grids rely on not everyone using their entire household electrical capacity at the same time. The is why you don’t see gigantic power lines going to each city block. In most cities that use natural gas for most of the home heating there just isn’t the electrical grid capacity to handle everyone plugging in their EVs every evening. The wires and transformers would have to be upgraded.

There are a lot of hidden costs in the EV revolution. Look up EROEI and embodied energy and emissions and learn about how it all works.

#84 Barb on 08.07.21 at 9:02 pm

Our son-in-law 3D printed a rat trap to rid their 5 acre farm of the critter(s), which are attracted by spilled chicken food.

Green and yellow plastic, with a guillotine-like blade if I recall.

Haven’t heard whether it worked, but then again he’s never changed the toilet roll either.

#85 Dogman01 on 08.07.21 at 9:08 pm

#79 Ustabe on 08.07.21 at 8:26 pm

That observation should get you a Master of Economics.

Ralph Klein gave us Ralph Bucks and a mini boom in the economy. Trickle Up actually works, it does all end up in the hands of the wealthy at the end point. But on its way it generates a ton of positive economic activity. Henry Ford apparently knew this.
Our current crop of Oligarchs not so much.

That is why I am not so down on CERB.

What we need to do is impose the Carbon Tax as a carbon Tariff on all good imported from countries that have lower environmental standards than Canada. Here is an idea impose a Tariff on all goods imported from unfriendly rivals whom steal our IP (Nortel) and violate Human Rights, commit actual genocide (Uyghurs) and hold our citizens Hostage (2 x Michaels). Instead of allowing them unfettered access to our market?

Note whom Trickle Down serves and note whom allowing the export of jobs and manufacturing to China serves.

“It is a club and we ain’t in it.”

#86 Barb on 08.07.21 at 9:08 pm

#11 Yukon Elvis

“With most of the City of Vernon already under evacuation alert, new alerts have been issued for parts of Coldstream and the North Okanagan Regional District due to the White Rock Lake wildfire.”
—————————————–
All new alerts east of the White Rock fire have been rescinded today. The reason they were issued yesterday is because of very strong winds blowing from the west, with the potential for sending burning embers across the north end of Okanagan Lake into Vernon/Coldstream.

Fortunately strong wins stopped at dusk.

We were stunned at the amount of “debris” that landed…some felt like sand and mud (and just as dirty). You should see our pool! Ugh!

#87 Victor V on 08.07.21 at 9:27 pm

#52 DON on 08.07.21 at 2:18 pm
#23 Doug Rowat on 08.07.21 at 12:06 pm
#18 Victor V on 08.07.21 at 11:44 am

Growth is expected…

—-

The 3 little words that have brought down the most Bay Street weed analysts.

—Doug

************

Weed is easy to grow. If quality isn’t provided and weed gets pricey, people can always revert to growing their own. It’s not rocket science. Criminal gangs are still growing it..
for now at least. Recent busts in the BC lower mainland.

====
====

US multi-state operators like Curaleaf, Trulieve, Cresco Labs, Green Thumb, and Verano are seeing consistent growth in revenues and earnings – virtually all sales are coming from the US market. The fundamentals for Canadian licensed producers like Canopy, Tilray, Aurora and HEXO are nowhere as bullish.

https://twitter.com/cannabisnewsdd/status/1423663777334104065?s=21

#88 Barb on 08.07.21 at 9:33 pm

#62 Nonplused

“…And while electric cars seem cool, word is owners tire of charging them pretty quickly. It just takes too long. A “quick charge” takes most of an hour, and the technology to speed that up currently doesn’t exist. There are physical limits to how fast you can pump the electrons into a chemical battery before you set it on fire.”

——————————–

Saw a photo yesterday of 15 to 20 Teslas lined up in Hope. The wait to get to the front of the line was apparently 2.5 hours.
And then the wait to recharge.
I wouldn’t want one if it was free.

#89 Doug t on 08.07.21 at 10:12 pm

How I learned to Stop Worrying and Love the Bomb

#90 I'm Alright Jack on 08.08.21 at 12:12 am

HaHa – that there’s a nuke bomb Doug, not any sort of rocket, but I get it. If I had to go, that’s the way. Give me another couple more years of Trudeau, and I think I’ll be ready.

And Felix#8 Felix on 08.07.21 at 11:06 am
“The best investment would be if Branson and Bezos joined forces to create a rocket company to deport all dogawful mutts to outer space.Worth trillions for this planet.”

I’m in for 10 grand, at least, if I could launch my neighbour’s yappy mutts into the great space beyond, similar to the one they have between their floppy ears. Business startup?

As for space tourism, isn’t that sorta bad for the planet, or are these E-rockets, or blue hydrogen powered? Guess it doesn’t matter to these prima donnas – they should shoot them all into space, on a one way trip.

#91 TN's lapdog on 08.08.21 at 6:23 am

@41 TurnerNation

Dispatched from across the pond, UK energy tariffs set to increase by over 10% “to cover suppliers’ extra costs”

https://www.bbc.com/news/business-58106105.amp

Meanwhile… “the NHS said it has no plans to reopen the 500-bed Nightingale hospital at east London’s ExCel, which was decommissioned in April having treated just a handful of patients during the pandemic.”

https://inews.co.uk/news/uk/government-resists-calls-to-reopen-nightingale-hospitals-despite-rise-in-covid-admissions-for-unvaccinated-1121993/amp

Seems UK taxpayer paid £500 million for these never used field hospitals (fatten the curve etc etc) and is now about to pay the same again in order to “buy back” these hospitals from… Ourselves?

https://www.dailymail.co.uk/news/article-9805707/amp/NHS-Trust-BUYS-local-11m-Nightingale-Hospital-treated-250-Covid-patients.html

Don’t even get me started on the billions of £££’s wasted on the NHS test and trace app…

#92 Wrk.dover on 08.08.21 at 9:01 am

#79 Ustabe on 08.07.21 at 8:26 pm
______________________
That is an excellent posting.

When I made my money (pre-NAFTA) as a self employed system, CRA had a one page expense claim sheet for tax time. The amount of cash sloshing around on each line of that page could drown a man, compared to the trickle, down on the bottom line.

There was big income, and there was little outcome.

So, I deleted all of the in betweenies and the income only needed to be a trickle, to equal all of the previous effort for that same outcome.

Personal living expenses work on the same principle.

MY $100 CPP+OAS, trickles in/flows out.

Says the man sustaining in the 100% self-built ocean view one bedroom solar powered, wood heated R-2000 house with a $2.oo/day property tax. And so on.

It’s nice that my Wife has a DBP, but it is not necessary.

M67.9NS

#93 Alberta Ed on 08.08.21 at 10:43 am

I suspect the space launches were fueled by snake oil.

#94 KLNR on 08.08.21 at 10:59 am

@#79 Ustabe on 08.07.21 at 8:26 pm
The US was a a great country until Reagan.

From deep and long personal experience I can tell you that if you want to stimulate the economy you give money to the poor. The billionaires will still get that dollar but only after it trickles up because the poor need to spend all of their money.

I’m not talking about poverty poor, I’m talking about the working poor.

For 37 years my forward facing business was hospitality, I owned, operated, bought and sold small diners and cafes. If you put a small diner downtown in the entertainment district the rich just walk on by, the poor rarely go downtown except for special occasions so you suffer the fate that all of you are thinking right now….seedy, poorly lit and sort of empty.

But if you find a spot near to a working class neighbourhood but on a street with traffic and parking AND you hire from the neighbourhood, you get your carpets cleaned by a neighbourhood guy, you get your bakery from the neighbourhood, etc. you can make bank.

You give a dollar to a billionaire and he puts it into his back pocket and looks for more. You give that same dollar to one of my servers and she goes home after shift and pays her baby sitter. Who gives the money to her mom who goes out to the local store and buys some groceries, who then sees business improve so they hire some more stockers and cashiers…who celebrate their good fortune by coming to my cafe to celebrate over a milkshake, chips and gravy. My sales go up, I present a good looking set of books to a retired florist from Alberta and she buys the cafe from me. Trickle up.

Rinse and repeat. I generally stayed away from definitely failing places and bought in and around 60 seats doing in and around $500,000. I generally was able to get them to $6 or 700,000 in a year or so with a couple of special case outliers that managed to come close to a million. I hung onto both of those for more than a couple of years tho.

Failures? Yup. But the secret there is to make sure your failures cost you less than your successes. Easy, eh?

Same with laundromats which I ran all through university…mine and my girlfriend, now wife’s, lasted 7 years I think it was and laundromats in walking distance to student housing and take out/pick up only pizza holes in the wall nearby to student drinking establishments are what paid for it all. My wife’s was a professional degree so expensive for the time.

Trickle up because trickle down doesn’t work.

Truth!
hard to believe some are still trying to push the debacle that was trickle down economics.

#95 Dharma Bum on 08.08.21 at 11:46 am

#26 Ponzi

In Vienna, Austria, renters comprise over 70% of the population.
And it is frequently voted in as The Best Place to live.
———————————————————————————–

How is that a “correction”?

Social hierarchies exist in most societies.

Social hierarchies are broadly defined as systems of social organization in which some individuals enjoy a higher social status than others – specifically, in which people are stratified by their group membership. In socially stratified societies, high-status groups are afforded greater access to material and social resources relative to low-status groups, leading to differential opportunities and outcomes. For example, those with low status face more verbal harassment and physical assault, are discriminated against in employment decisions, and face harsher treatment by the criminal justice system.

https://link.springer.com/referenceworkentry/10.1007%2F978-3-319-24612-3_1833#:~:text=Social%20hierarchies%20are%20broadly%20defined,group%20membership%20(Axte%20et%20al.

In Canada, status = home ownership = happiness.

In other places, not so much.

Different strokes.

#96 Doug Rowat on 08.08.21 at 11:56 am

#82 NSNG on 08.07.21 at 8:37 pm
#22 Bartman on 08.07.21 at 12:04 pm

Any thoughts on Bitcoin going forward?

The play of the day is probably ETH and its smart contract technology. They are currently going through an upgrade cycle that will help them to do the opposite of what government currency does. That is the goal. The government prints currency and dilutes your savings via inflation (a hidden taxation scheme). ETH is looking to be a deflationary crypto that gets more scarce with every transaction (they are not there yet).

I know the crypto zealots will argue that there are better cryptos out there but currently ETH is the second biggest in the crypto realm and could soon eclipse BTC due to greater functionality. It is considered a crypto “blue-chip”.

I’m targeting 30K per coin (currently hovering around 3K).

That said, all the caveats are to be considered. Do your due diligence, never put more than 5% of your net worth into something like that, determine your sell point before you hit the buy button, etc., etc., etc.

—-

Make not trusting anonymous blog posters with 10-bagger upside targets part of your due diligence.

—Doug

#97 Nonplused on 08.08.21 at 4:37 pm

It seems the housing crisis has been solved!

https://mishtalk.com/economics/new-battle-cry-seize-houses-and-redistribute-them-to-solve-eviction-crisis

Who knew that all we had to do was seize houses from some people and give them to others, and we would have more houses? It’s so simple it escaped me.

It hurts my brain when I see the SJW’s out there with signs that say things like “Cancel Rent”. What would be the alternative? Nobody is going to build houses for free and more houses is what we need.

And now that we have canceled rent, how do we decide who gets which free house? Not all houses are equally desirable. Houses that are larger and better located will continue to be in high demand even when “free”, so a black market will quickly arise where people with money will rent “free” houses from people who were assigned them. No, instead what we would end up with is Soviet style apartment blocks where everyone gets the exact same crappy apartment with one 60 watt light bulb.

However, the eviction moratoriums have created a huge mess. Nobody is talking about how to solve this problem. The problem has been pointed out, but the solution has not been. Garth, maybe this would be a good topic for a post one day, if you have the solution.

I see only two possible outcomes. Either the government will have to step in and bail out the land lords by say paying their interest for the last however long it’s been and forcing the banks to refinance the loans with longer terms (which in itself is unfair because not all land lords are in the same financing position). Or we can let the land lords go bankrupt and Blackrock can step in and buy all the properties at a huge discount. Either way the tenants are not getting free houses.

There is, at this point, no saving the delinquent tenants. They’ve already got their CERB and blown it on motorcycles. At this point they must be evicted if there is to be anything resembling the rule of law to be left in our country.

(Ya, they did blow it on motorcycles and other such things. Just check out the new and used motorcycle market. There is no stock. 14 year old motorcycles are selling for $7,000 when they were only $14,000 new. There are no dual-sports to be had, but you can get on a wait list. What new bikes do come in sell immediately for full MSRP. Kawasaki and Suzuki seem to have exited the market entirely. Ya, I know supply chain issues probably have something to do with it, but demand has not been falling in response to the increased prices. That’s because of all the free money.
This raises another question about socialism: Was the free emergency assistance really meant to result in free rent and a motorcycle in every garage? But what did the government think would happen when people couldn’t be evicted and then got a bunch of free money? People, bless their souls, lack morality about such things and act in their own self interest. Motorcycles are “self-interesting”. Rent is not.)

#98 Free Investment Advice - Worth Every Penny! on 08.09.21 at 9:01 am

Invest in space tourism. Then in bunkers as the planet is destroyed by all the rocket pollutants.

#99 Colin on 08.10.21 at 3:14 pm

Will Doug get to 100 comments? He needs a rocket booster!