If you think nothing surpasses the 28% bloat in the price of an urban house over the past year, well, think again.
Government crushed it. Public spending went up 30.7% at the same time revenues fell 2%. (Imagine if you ran your family or business like that.) A deficit of $40 billion in 2019 turned into $325 billion hole last year. Here’s the thing to remember: as a share of the economy this deficit jumped by a factor of 14. In one year.
Yeah, yeah, there was a virus. Cost a ton. So what?
Well, here’s where real estate and spendy federal politicians collide. Both are heading for a reckoning.
Last year, while the feds were shoveling borrowed money out the door with debt hitting the highest level ever relative to the economy (and each Canadian in hock for $74,747) the cost of borrowing went down. Here’s how Stats Can explained it in a report yesterday:
This phenomenon is mostly explained by monetary policy during the pandemic aimed at increasing money supply, encouraging lending and investment (quantitative easing) and keeping short-term interest rates close to zero. This policy had the effect of lowering interest rates on long-term debt. This has enabled governments to finance the unprecedented deficits generated during the pandemic at low cost and to refinance maturing debt at lower rates.
This is the secret sauce of Justinomics. You can leverage your tail off and jack spending because it’s so cheap to borrow. Nobody’ll notice! And it’s cheap because there’s a virus. Go, Chrystia, go.
But wait. What happens when the virus ends?
Bingo. Now everything changes. As Mr, Bond Market factors in inflation and investors demand a premium for holding government debt, rates rise. Soon the Bank of Canada will follow suit. Uppa she goes, starting in April, with eight increases expected in the next 24 months. The cost of borrowing $2.5 trillion (what we owe) will more than double. It could triple. And then Justinomicss will fail, or the CBs let spending and inflation rip.
So, back to real estate. People who bought in the last few days, weeks, months or since 2019 are facing a similar deal. Mortgages at 1.9% (or less) allowed for massive loans that are cheap to carry. In return, house prices could inflate since buyers could afford to finance additional debt – even though incomes were flatlining and the virus whacked GDP. This was also both a phenomenon, and historic. Totally abnormal. And now it’s over.
CIBC economist Benny Tal was making some headlines again his week explaining what swelling mortgage rates are doing. It’s a flood. The kiddos are besieging bankers, asking for pre-approvals at current rates before they jump further. That means they’ll be buying within the next 90 days before those commitments run out. “There is no question about it that we are borrowing activity from the future,” says Tal. Big demand now. Exhausted later.
Now, look at the situation in which these newbies are jumping headlong just to get a cheapo loans rate.
Here is the inventory picture for the GTA, for example (it’s a similar story in every major market). The number of available listings has collapsed, from 12,000 last autumn to below 3,700 now.
Number of properties listed takes a dive
This is a decline in inventory of almost 60%. We’ve explored the reasons this is happening recently, and high prices that don’t allow sellers to trade up is perhaps the greatest. At the same time, speculative investing in residential real estate has exploded. Some people estimate 25% of all sales, everywhere, are to folks who already own. It’s an old story – people crave what is going up, and will pay a big premium to get it.
So, more mortgages being approved. More demand from investors. Interest rates rising. House-lusty Millennials seriously infected with FOMO. Boomers too thick to sell. And a crashed level of listings. The. Perfect. Storm.
Regarding real estate, Benny’s right. We are pulling demand from the future and applying it now. The second half of 2022 may be as barren as the first half is frenetic. Been thinking of downsizing or moving? Sell now with a long close.
As for government, that steaming pile of obligation now financed at the lowest rates ever is our collective mortgage. It’s never going away.
When I first went to Parliament in 1988 the Mulroney gang was desperate to reduce the carrying cost of the national debt. Interest rates at 9% meant a third of the entire national budget was being piddled away in interest charges, crippling spending – and the accumulated debt was ‘only’ $300 billion (what Justin now borrows in a single year).
The solution: the hated GST, followed by a Liberal government that slashed spending, including healthcare, to suture the blood and save the future.
But that’s when men were men.
About the picture: “Thanks once again for helping me keep my finances on track over the years, and thanks also to all those who take the time to comment with intelligent posts,” writes Ben. “It’s rare and enlightening to see such a cross section of readers from our country, and all over the world share different viewpoints. This is Piper, my kid’s dog but my walking partner. Piper, a Labradoodle loves the water, kids, fetch, and snacks, and pretty well anything else with anyone who is willing to spend time with her.”
122 comments ↓
Our dear Photo-op Minister being a man?? Bwahahahahaha. That ship sailed when he bullied JWR.
T2 just stated he plans to safe the whole planet by taxing Kanuck’s derrieres…..
Who elected these nutz…
Beautifully framed picture of Piper.
Reminds us all, that sooner or later,
We have to pay the Piper.
“But that’s when men were men.”
No truer words My Liege.
——————
It’s not just Justinomics (Secret Sauce…THAT was good) but the younger Canadian generations in legion.
Be it Government or RE, same story:
Gobble debt while it’s cheap at a crushing weight, dole out Gov cash to themselves to maintain the lives they believe they so richly deserve and Mañana to the future.
And they have the nerve to criticize the Boomers for messing up, according to them, everything.
From what I’m seeing, the Boomers are amateurs at what the younger Canadian generations are going to self-impale upon soon enough.
…heck what do us Boomers know, we only went thru 5 recessions excluding the Bug Recession (’74/75, ’80, ’81/82, ’90/92, ’08/09).
Liberal.
Forward. For everyone. Money grows on trees.
#2 crowdedelevatorfartz on 11.22.21 at 3:26 pm
“Of the 28,519,410 taxpayers in this country, only 311,850 report income of $250,000 or more.”
+++
How many of those 311,850 , 1%’er’s are doctors?
Think it’s hard to find a doctor now?
Just wait.
————-
No problem here.
My daughter is studying to be a doctor.
3 years more to go.
If we ever need a plumber and you need a colonoscopy, we could do some bartering.
But, be prepared the throw in a few sacks of potatoes, to make the deal even.
That’s what friends do, help each other save taxes.
Garth, probably a silly question, would you be even more resolved now to consider a 10 year mortgage knowing what’s coming? We are in the process of renewing. You never know what the future could bring personally, but with family life and careers cruising along, loving where we live, not over leveraged and zero debt outside of a reasonable and manageable mortgage amount, is it getting to no brainer territory?
You missed that boat. – Garth
#140 Sail Away on 11.23.21 at 12:55 pm
Re: Wages and productivity
Even if someone were to agree with that productivity vs. pay narrative (I personally don’t, but you already knew that), I was linking that study more to show that wages have indeed been stagnant, which was the original point.
So even if we pretend the “productivity” line on that graph doesn’t exist, the graph still conclusively shows that real median wages have barely budged in 40 years.
“But that’s when men were men.”
You mean, that’s when politicians understood economics. These days, “The balance will budget itself.” No wonder JT hires so many consultants to explain things to him…
Garth, probably a silly question, would you be even more resolved now to consider a 10 year mortgage knowing what’s coming? We are in the process of renewing. You never know what the future could bring personally, but with family life and careers cruising along, loving where we live, not over leveraged and zero debt outside of a reasonable and manageable mortgage amount, is it getting to no brainer territory?
You missed that boat. – Garth
Dang, even at %3?
I absolutely agree that the real estate market is heading for a correction. Whether that’s a drastic 30% plunge or a lengthy stagnation is anyone’s guess. That said, I still think it’s bloody irresponsible to suggest selling your primary residence to attempt and time the market to cash in.
Income properties? Sure, have at er, the signs are pointing to that being a smart move, but please don’t gamble with where you live.
Can you even say “when men were men” anymore
8 rate increases…..
I doubt ANY government will have the guts to allow that.
Unless they are .10% each for a grand total of .80 on top of zero.
Big deal….no one has the guts to do the right thing….
Especially not socks…
Isn’t inflation like an invisible robber taking away your hard work and saving even as you stay sleeping.
You do see it every time you go and buy things you need like food and gas…
Some might find this interesting too.
The Throne Speech must announce an end to the inflation tax. Pierre Poilievre Nov. 23, 2021
https://www.youtube.com/watch?v=OhWbQJxyASc
— Almost back to normal! In the New System you no longer have a right to be healthy. You also have no right to be sick. You are…at all times…Asymptomatic.
.RTRS: U.S. issues ‘Do Not Travel’ COVID-19 warning for Germany, Denmark
.Canada no longer accepts negative covid tests as alternative to vaccine passport for domestic travellers (globalnews.ca)
.EU Covid passes set to expire without booster vaccinations (thetimes.co.uk)
—
— Good news guys. We ended global terrorism. Erradicated the common flu. But our rulers need us scared. You aren’t scared enough…Comrades confessed, as per below:
Always the push to keep cancelling Christmas??
https://edmontonjournal.com/news/canada/forty-five-per-cent-prepared-to-ditch-social-distancing-at-holiday-gatherings-poll/wcm/ee5a9d6d-ad32-4bf3-83ff-f6b25b7c61c0
“Christian Bourque, Leger’s executive vice-president, said the finding suggested that Canadians may be becoming complacent about the risk of COVID-19 because they are vaccinated. Forty-nine per cent of Canadians confessed they were not afraid of catching the virus.”
—
— @Dolce: The latest from our premier children’s hospital
https://www.sickkids.ca/contentassets/50c1bd3c95e74dcf9fa7c9f6fd707bd7/interim-guidance_myocarditis-pericarditis-after-mrna-covid-19-vaccination-in-children.pdf
there are many potential metrics of health in the housing market – I am watching the rental listings for my city stay stable (and rise as a ratio to sell listings) – with many listings not moving – the rental rates are far too high even for dual income – these commodity owners will be having to make decisions within 2022, I foresee – 2023 will be the crush but 2022 will be the wilt…commodity units where specuvestors can no longer carry the load without tenants
That … or, Justin just finds another crisis to lower the rates …. :)
Don’t underestimate him, he is a perfect sociopath, he has no limits.
I remember in mid 2017 to mid 2018, everyone was saying sell your RE positions quick before it collapses. That sure created a great buying opportunity for me in March 2018 with a Mississauga semi purchased below $600k. Now similar semis in that hood sell for $1.1 mil. That 2018 semi is fully paid for and the positive cash flow is adding to my next purchase. I have a feeling that will occur soon. Even the housing bulls or equivalent are calling for a nation wide 20% correction. That probably means 40% in the GTA. That possibility doesn’t phase me, but actually gets me ready to buy again. Good luck everyone with your investments. Do it with minimal leverage (or none) and you will be ok.
-As noted ALL further spending will be on “Climate Change”. NO NEW Hospital capacity will be add, even with 500,000 more people coming to the country every year (the size of City of Halifax).
.Whatever else happens, this Parliament looks set to be (mostly) about climate change (cbc.ca)
–Life in Kanada. Doesn’t matter if you are starving, drowning or whatever you must follow the Rules Comrade!
.B.C areas hit hard by flooding also dealing with regional COVID-19 restrictions (ca.news.yahoo.com)
—
— In my province the Red Cross has radio ads. Urgent appeal for blood donors.
Call them and state you will donate today but will not wear a mask. You know what their answer would be. Nothing matters but the CV Rules. Nothing.
—
— Supply Chain: what are the chances that a storm will now pound the other Shipping Ports in this country – the Least Coast?
https://globalnews.ca/news/8387969/ns-nb-weather-statement-torrential-rain/
—
— Ooof control over gas = travel/movements.
“Parkland to pause Burnaby refinery operations”
In response to the continuing crisis in British Columbia that resulted in the shutdown of the Trans Mountain Pipeline on Nov. 14, Parkland Corp. has initiated steps to pause refinery processing operations at the Burnaby refinery and maintain the refinery in ready-mode. The Trans Mountain Pipeline is the primary source of crude oil feedstock to the refinery.” (stockwatch.com)
Off topic and you may shoot me Garth, but numbers are numbers.
So, 3 days ago I post a Tweet showing that as % fully vaxd increases, hospital patients per 1M decrease (strong negative correlation about 85%) and it got retweeted by Doc Tim Spector head of the ZOE COVID Study (he liked it), original chart and data (a.k.a., Garth’s Blog Dogs gain some fame but not fortune outside the confines of The Greater Fool):
https://i.imgur.com/qwIVz2j.png
Figured an encore due except with % fully vaxd vs. deaths per 1M a good follow-up.
———-
PANDORA’S BOX. OPEN.
As before, downloaded the latest from Our World in Data, for about 175 countries, chart and data (partial country list):
https://i.imgur.com/YieUBLj.jpg
[Red highlighting for deaths 0.
Pretty sure we’ll get there (I hope…says DV).
#8 Tiffany Lozon on 11.23.21 at 3:01 pm
“But that’s when men were men.”
You mean, that’s when politicians understood economics. These days, “The balance will budget itself.” No wonder JT hires so many consultants to explain things to him…
——
Does JT have a hearing problem or is it totally a brain issue?
REE: Off topic and you may shoot me Garth, but numbers are numbers.
Somehow, I did not Submit correctly or something, a lot got deleted…here is the discussion about % fully vaxd correlation to deaths with some hope…
—————–
PANDORA’S BOX. OPEN.
As before, downloaded the latest from Our World in Data, for about 175 countries, chart and data (partial country list):
https://i.imgur.com/YieUBLj.jpg
[Red highlighting for deaths 0.
Pretty sure we’ll get there (I hope…says DV).
The solution: the hated GST, followed by a Liberal government that slashed spending, including healthcare, to suture the blood and save the future.
But that’s when men were men.
___
My bet is due to chronically low T levels in the party, the required tax bomb will be meek, and urgently required action will not be taken.
Then JT will dance the bhangra, apologize; and lower the flag.
Forget Stocks, ETF’s, Bonds, Debt, Interest rates, etc.
The world depends and runs on OIL. Period.
And not one government has told the truth that the easy oil has been already been processed and future oil will be expensive to extract….
All the lies Biden just mentioned:
*BIDEN: GOING TO GET THROUGH THIS GASOLINE PRICE SPIKE
*BIDEN: CHINA MAY DO MORE ON OIL RESERVE RELEASE AS WELL
*BIDEN: UNACCEPTABLE FOR GASOLINE FIRMS TO POCKET GAINS
*BIDEN: WILL DO WHAT’S NEEDED TO REDUCE PRICES AT THE PUMP
The best hedge in the world is being LONG OIL….they ain’t making more of it, the world runs on it and until they find an alternative that can do everything OIL can, it’s the ONLY game in town….
Mulroney should have just ordered the BOC head to buy up all the government bonds at 1%. Budget problem solved.
#12 Billy Buoy
I agree. StatCan said Govs currently paying about 7.5¢ on the $ on debt. Dirt cheap.
Imagine what would happen if the cost of debt was like it was in the ’80’s?
7-18% BoC Overnight Rate.
Seppuku time.
—————–
BoC will do “window dressing” rate increases out of fear of bankrupting Government (monetary policy) and anyone getting a car loan or similar.
Painful back then but it was done by Chretien et. al.
Garth’s “But that’s when men were men.”
Good luck with that now.
“We have to start thinking about higher interest rates and what it means, and clearly, the consumer is the number one victim here,” Tal said. “The question is to what extent higher interest rates will really kill the consumer.” – Benny Tal
I’m sure Benny Tal has some redeeming qualities, is a pretty smart economic kind of guy, and it’s not his fault that CIBC chose such an appalling and unimaginative new logo.
But seriously, Benny. Can you really equate the debt snorfelling, house gluttony, and overwhelming need for instant gratification at any expense as ‘victimhood’? Borrowed down payment from Bank of Mom, 85 year old grannies co-signing so their CPP and OAS can beat the qualifying rates set by OSFI, etc? Whoa, Benny!
What’s going to ‘epic’ is the spin on who is at fault when it begins to seriously unravel.
Not the bank cop OSFI, whose new chief is too busy talking about ‘Glasgow Financial Alliance for Net Zero’, United Nations Principles for Responsible Investment, and Capital Distribution of FRFI’s. Too high up the food chain to be blamed, and besides Joe Average has never heard of them. Not the current Liberal Government who will just deflect the blame on the banks.
And the Ancient Warriors don’t give press conferences on these matters. They’ll just say ” We had Benny warn people, but they wouldn’t listen, they were too busy snorfelling at the trough”. The likely ‘victim’ here will be the tax payers via some federal shell game orchestrated by our current Liberal Government. Guess that’s why they got so many votes in the GTA
I can’t believe after all this spending and central bank shenanigans, we are going back to the idea of taxing citizens more to pay for debt, then give them money to stimulate, then tax it back, then stimulate!
Let’s just agree that no one is paying back old debt and the central bank can zero it out on their phantom balance sheet.
$74,747 every man, woman and child.
And other identities.
Appropriately, the Throne Speech will now be conducted from one of those tall and too-narrow plastic structures (sans paper) that grace the perimeter of parks, beaches and other public spaces.
Billy Buoy, mortgage, debt junkies pay up. The days of consolidating debt from car loans, credit cards, etc. are over. You can’t rack up 6% to 24% interest rate debt and push on the house at 1% to 2%. You are going to have to pay 5%+ on all your crap.
Just because you were alive during the time “when men were men” doesn’t make you a manly man. But ask your dog, he can tell what kind of man you are.
#7 SunShowers on 11.23.21 at 2:55 pm
#140 Sail Away on 11.23.21 at 12:55 pm
Re: Wages and productivity
Even if someone were to agree with that productivity vs. pay narrative (I personally don’t, but you already knew that), I was linking that study more to show that wages have indeed been stagnant, which was the original point.
So even if we pretend the “productivity” line on that graph doesn’t exist, the graph still conclusively shows that real median wages have barely budged in 40 years.
____
Get ready for more alongside massive immigration and technology advancements. Eventually no one will work at all. You’ll be horrified, I’ll be fishing.
#111 SoggyShorts on 11.23.21 at 1:21 am
#99 Michael in-north-york on 11.22.21 at 10:14 pm
#93 SoggyShorts on 11.22.21 at 9:47 pm
I mean yeah, there are places where 25k doesn’t cover rent, but there are also places where 10k does, so why wouldn’t someone making 37k move? 30k is minimum wage in a lot of places so worst case scenario they lose 7k per year to save 15k
===
That’s simple; they won’t get any job in those places. In many industries, all or nearly all jobs are in big cities.
********
Total BS. Were talking about literally ANY job. There are loads of jobs outside of the GTA and GVA. In fact, MOST jobs are outside.
===
Apparently, you are familiar with the job market in each and every industry.
People aren’t stupid. They wouldn’t be settling in big cities if they could have a better life elsewhere.
In Canada we talk aboot RE eyh?
Feller told me today, he could have bought the camp (cottage) on the piss willy little mud lake next to his for $11,000, not many years ago. The smart money just flipped it for $200,000 to an Ontario Jake.
Ranch wall siding, which is 3/8 plywood with grooves and pre-stained red. Sliding single panes. Zero insulation. Sono tube posts into the rock ground. (What would you expect for 11 grand?)
Why we call cottages camps here.
M68NS
I always said, when T2 started CERB, he should have imposed a surtax on incomes above $50,000 until CERB payments has stopped.
That way, everyone would feel this pain, not just those who lost their jobs, and the deficit would be targeted immediately.
——————
(in 10 lines or less)
Common Sense on Income taxes
Common Sense at comment 145 “yesterday” said:
…The reality is increased costs will get passed down to consumers. Market forces and competition create buffers but ultimately prices will rise.
For example, if there was no income taxes I could reduce employee pay such that their take home is the same. My costs decreased, and market forces would result in prices decreasing accordingly given the lower labour costs. The inverse is also true with increasing costs including increased taxation.
********************************
This is an extremely important point.
In a perfectly competitive world it is CUSTOMERS and not corporate owners that pay income tax. But in our real world it may be that it is mostly corporate owners that pay income tax.
When TRUMP sharply reduced income taxes in 2018 corporate S&P profits soared and very little (to none) of the reduced cost was passed on to customers. A modest amount did go to higher wages. This was for the S&P 500 companies. My conclusion those mega companies mostly face little competition. We have many large companies with monopoly pricing power.
This is hugely important for corporate income taxation. If it were in effect customers paying corporate income tax then we should not have a dividend tax credit. Dollar is a dollar should apply.
Bottom line, we sorely need a new Royal Commission on both corporate and personal taxation.
Garth is right locking in 10 year mortgage rates is long gone with the advantage. We locked in last year, 2020 very low 2.17% 10 year fixed mortgage rate until 2030. We took our credit card debt $30,000 and mortgage renewal so combined $230,000. Our payments prior to the 10 year lock up was $2,311 a month and now is $1,737 and we will have our mortgage paid off in less than 9 years now.
Now with the higher interest rates here and more coming, we will easily be saving $1,000 a month and we will max out our RRSP and TFSA from the $13,000 to $25,000 and we are not using anymore of our income to do this, $600 a month interest rate savings and $400 a month from our RRSP. Even our some of our GIC rates now maturing are going higher with 2.75% to 2.85% 5 year rates available but renewal is in 6 months with a big chunk which I would not be surprised at 3.25% to 3.35% 5 year GIC rates.
#132 Quintilian on 11.23.21 at 11:31 am
given that poverty is basically created by an inequitable and broken redistribution of society’s wealth.
===
All parties that promise to distribute the wealth evenly, really want to control the distribution process.
Once they get there, they use their position to turn themselves into a new elite group. Equality is never achieved, but they are no longer bothered by the inequality as long as their privileged role is maintained.
@#132 A quintillian names for Welfare….
“If the taxation system was fairer, there would be a special wealth tax surcharge on the rich for the purpose of a direct transfer to the poor, given that poverty is basically created by an equitable and broken redistribution of society’s wealth.”
++++
Today it’s called CERB.
Tomorrow… EI
Next week… Welfare.
@#5 Ponzie’s Potato plot
“If we ever need a plumber and you need a colonoscopy, we could do some bartering.
But, be prepared the throw in a few sacks of potatoes, to make the deal even.”
+++
PEI potato’s ….. warts and all?
https://www.cbc.ca/news/canada/prince-edward-island/pei-potato-wart-bibeau-1.6259245
#30 LuckyGuess on 11.23.21 at 4:28 pm
Just because you were alive during the time “when men were men” doesn’t make you a manly man. But ask your dog, he can tell what kind of man you are.
——-
Wow. Good test. It’s like ‘mirror, mirror on the wall’
Apparently I am an exceptionally interesting, respected, and fascinatingly attractive man with all the answers, to whom instant obedience is de rigeur and from whom all good things flow.
Talk about positive feedback.
Wonder if my wife knows?
“So what happens when the virus ends?”
That’s cute.
#10 – Garth is not saying to sell your primary residence just for the sake of cashing out, but if you intend to then sell now rather than wait.
Politicians, (past & present) are giving me cognitive dissonance. The day after the B.C. Floods, Our Provincial Housing Minister gave a speech to 1200 of his “fans”. Eby was “frustrated” by the municipalities acting as “gatekeepers” to social housing. Lil potato is “committed to 400,000 immigrants a year for the next 3 years & 10% are coming to the lower mainland”, he said.” “We’ve got the money”. “We’ve got the developers”. “We’ve got the non profits”. He hinted at withholding funding for municipalities that “thwart” social housing. Legislation has been introduced allowing housing projects to be approved without a public hearing : Which way should I go? : Which way should I go?
But wait. What happens when the virus ends?
Except, it never ends. By now it’s pretty clear that this virus went endemic. It’s here to stay, like the flu (well, 5-10 times more deadly), with seasonal “waves” every so often.
Socio-economic implications are yet unclear. Masks forever? Vaccine passports forever? Emergency spending forever?
https://www.bloomberg.com/news/articles/2021-11-23/bank-of-canada-says-investor-rush-into-housing-risks-correction?srnd=premium-canada
Even the BOC is now warning investors who will wreck the party for everyone else.
Well folks, we just muscled our way past France into the #4 spot for G7 Gross Gov Debt (used flag colors):
https://i.imgur.com/fPH9tVe.png
Beat out by Biden’s Build Back Better America, Threadbare Italia and Sumo heavyweight champion Japan.
Giver’ another year or two and I’m pretty sure will make the medals podium, beat out the Yanks.
Well Garth, maybe all that you say is true. But on the other hand, what if it’s true that deficits don’t matter anymore? Somehow I doubt that is the case, but it looks like we are going to find out.
Low interest rates = increased spending = larger deficits. Higher interest rates = increased service costs = larger deficits. Maybe not as large as last year, but I don’t see a way out of continued deficit spending well above GDP growth.
I’ve often said in these comments that “money isn’t real”, and it isn’t. But neither is math or the law. They are human constructs created to help us think about things. But it doesn’t mean one can ignore the concept. You do so at your own peril.
So if “money” is sort of an “accounting law” used to facilitate the exchange of goods and services, providing a speedy and efficient way to determine who owes who what and how much consumption or other capacity you have earned or been granted, what happens if society decides to ignore “the law”? Can the government really be “above the law” and spend whatever they chose? What message does it send to the rest of society? What happens when we become entirely “lawless”?
We only need to consider what’s happening in certain cities in the US that have decriminalized shoplifting. It was bad before, but now it is rampant and causing stores to close. So a few people make off with a cart of Tide to sell on eBay and the whole community loses a grocery store. Not good economics overall, although it works for the shoplifter. Laws need to be crafted carefully, and tinkered with with reverence to past experience. Anything that can go wrong, will. Somebody will make sure of that.
#6 Luke Wight on 11.23.21 at 2:51 pm
Garth, probably a silly question, would you be even more resolved now to consider a 10 year mortgage knowing what’s coming? We are in the process of renewing. You never know what the future could bring personally, but with family life and careers cruising along, loving where we live, not over leveraged and zero debt outside of a reasonable and manageable mortgage amount, is it getting to no brainer territory?
You missed that boat. – Garth
——————————————————–
You can get a 10’r for around 3.3% posted, so probably closer to 3. If rates are going to double, maybe triple, how does that reconcile with 10 year mortgages at 3%?
Sail away, if that is really how you see life in Canada today then there really is no hope.
Just become a Doctor, how simple. How easy and how dishonest. You and others like you are truly doomed if you think that’s all there is to things.
Like it or not in addition to Doctors we all need Nurses, Police officers, Air Traffic controlers, Firemen, Care aids, Teachers and 1001 other non Doctor, hard working, tax paying Canadians. If the system is not fair to all of them then the system will eventually crumble. It’s just not good enough to say why didn’t you just become a Doctor? Not good enough by half.
It is smug SOB’s like you that are destroying this once pretty decent country. Just become a Doctor , what a joke.
Lol. Green space and local governments won’t allow for a correction. Get long real estate. Overvalued but no other options with leverage like this :)
(Line from today’s blog)…”and investors demand a premium for holding government debt, rates rise.”
…………………………………………………
This mirrors the exact detail to what i said would transpire eventually.
In fact I’ve gone over this very subject dozens and dozens of times right here. (didn’t think anyone was listening…nobody was).
Along with the deceived frenzied buyers of RE spurred on by a deceptive Fed/BoC focus on rates they can’t guarantee but they allude to anyway, … I began with my warnings of those holding government debt (bonds) eventually forcing the hands of the Fed with the BoC in trail mode starting about 18months ago and have kept it up since.
18 months ago … long before it was even a remote concern yet…the writing was on the wall from a global perspective for rates to head up no one cared to look at or ahead to.
It is now beginning to unfold with much more to come.
The masses should take this into consideration more now than ever.
Those in the – interest rates can never go up – camp are in for a big shock much like a kick in the nuts with a frozen boot or a beating upside the head with a frozen chicken.
They erroneously assume governments won’t allow a rising interest rate fuelled recession to happen. (they will).
The days of money printing still here can only strengthen the momentum toward that outcome.
Enough so with the continued debt creation to avoid default, but not a recession. (read my comments posted here 2 days ago)
“Never has RE lost ground in history” …they like to clamour on about….Well these days are like none other in history gone before and a blood letting in RE equity is coming like not ever seen yet.
Rockin the mindless FOMO train from side to side barrelling full tilt down a steep mountain pass and then the tracks explode … like a rusty old roller coaster going flat out and then the bearings seize and the wheels come ripping off.
#39 crowdedelevatorfartz on 11.23.21 at 4:49 pm
@#5 Ponzie’s Potato plot
“If we ever need a plumber and you need a colonoscopy, we could do some bartering.
But, be prepared the throw in a few sacks of potatoes, to make the deal even.”
+++
PEI potato’s ….. warts and all?
https://www.cbc.ca/news/canada/prince-edward-island/pei-potato-wart-bibeau-1.6259245
——————–
Well,
The price of the Colonoscopy has just gone up.
It’s gotta be German Yellow potatoes.
They are the best.
Yukon’s are second.
#23 Billy Buoy on 11.23.21 at 4:01 pm
*BIDEN: GOING TO GET THROUGH THIS GASOLINE PRICE SPIKE
Well, one way or another. Not necessarily as stated though.
*BIDEN: CHINA MAY DO MORE ON OIL RESERVE RELEASE AS WELL
Releasing oil reserves no more creates more oil than depleting your savings makes you richer.
*BIDEN: UNACCEPTABLE FOR GASOLINE FIRMS TO POCKET GAINS
Then where will they get the money to increase supply? They were dying on the vine before because prices were too low (probably due to covid but who really knows).
*BIDEN: WILL DO WHAT’S NEEDED TO REDUCE PRICES AT THE PUMP
There are only two ways to do that: Allow production to increase or let price destroy demand. The first world is totally against increased production but wait until they see the results at the polls to demand destruction. Going green is all fine and dandy as long a you don’t have to pay for it personally.
I believe we are already in a “zeitgeist” change where the masses are awakening to what China and India already know: You can’t run a modern economy on intermittent power. That’s why they sell us solar panels and build coal fired plants for themselves. That’s why they agreed to nothing at COP26. Some 2070 targets maybe but nothing is on paper. They probably can’t believe we are so stupid.
And no, I don’t deny climate change. I remain in favor of nuclear energy as the most likely solution that can actually do something about it.
…and just then – “What i thought was heaven turned out to be Hell”.
My last Comment on Canada #4 in the G7 Gross Debt was a TEASER.
Add in Household Debt as a % of GDP and Canada, drum roll…
NUMERO DUE CAPUT MUNDI
(Italian, Latin trash talk for #2 of the G7, again flag colors and NOT at half mast on my sheets, never, ever):
https://i.imgur.com/0rQJ9iT.png
Better watch your back Japan, Justinomics & Canadian Households coming after your G7 Debt Gold Medal…sooner than you think.
And ya, we beat out the Yanks by a good 16%.
Go Canada Go!
#138 Dragonfly 58 on 11.23.21 at 12:33 pm
I am sorry Garth, but all those high income earners hiding behind a Corporate front to minimize taxes are going to have to brought down to the same basic tax exposure all the rest of us face. ……
Case in point, wife and I had according to Stats Canada a quite decent income. around top 35% – top 25% and yet from the year 2000 onward we were increasingly non competetive in rural Langley B.C. real estate.
_________________________________________
It’s your lucky day, Dragonfly … have I got a deal for you! Prime Langley waterfront … if you don’t mind the occasional dead cow or chicken floating by you.
Boil the frog…raise GST to 6% in 2022 and 7% in 2023
I pity those in T.O and Van more of course, but even in Calgary and surrounding area everyone wants “1 mill” or more. Cheap rates have absolutely decimated our country.
@#43 fishman on 11.23.21 at 5:20 pm
Politicians, (past & present) are giving me cognitive dissonance. The day after the B.C. Floods, Our Provincial Housing Minister gave a speech to 1200 of his “fans”. Eby was “frustrated” by the municipalities acting as “gatekeepers” to social housing. Lil potato is “committed to 400,000 immigrants a year for the next 3 years & 10% are coming to the lower mainland”, he said.” “We’ve got the money”. “We’ve got the developers”. “We’ve got the non profits”. He hinted at withholding funding for municipalities that “thwart” social housing. Legislation has been introduced allowing housing projects to be approved without a public hearing : Which way should I go? : Which way should I go?———–
It’s just social engineering. Been around for some time, but ramped up due to immigration targets, current socially progressive/woke policies and what Millmech (yesterday #129) posted about. Here is the link he provided. You know all about this living in Vantown.
https://www.msn.com/en-ca/money/topstories/poor-is-more-pot-shop-chain-says-low-income-areas-good-for-sales/ar-AAR0EbB?ocid=msedgntp
One problem with social engineering is that it tends to ignore tribalism and that people will vote with their feet. So any reliance on ‘buy in’ and dollars from those who may elect not to participate shouldn’t be ignored and Eby’s ‘carrots and sticks’ analogy could fall apart.
There are always other places. Wonder how little Lunenburg, N.S deals with the issue? Or maybe increased density for affordable housing doesn’t hit the radar there (?) Giant Metropolis” is increasingly very unattractive. Unless you liked the movie BladeRunner or think Gotham City is ‘swell’.
#134 ImGonnaBeSick on 11.23.21 at 12:05 pm
#122 Observer on 11.23.21 at 9:56 am
It’s a modified quote from Taken … A joke. Take a deep breath, now go out and try to find a sense of humour…
——-________________
for those who don’t get the context, here is Sailos post:
#109 Sail Away on 11.23.21 at 12:08 am
#79 Ponzius Pilatus on 11.22.21 at 8:20 pm
Shame on CEF, Sailo and Billy Bob, for indulging in other people’s misery.
———
I don’t know who you are. I don’t know what you want. If you are looking for validation I can tell you I don’t have empathy, but what I do have are a very particular set of skills. Skills I have acquired over a very long career. Skills that make me a nightmare for people like you. If you let your arrogance go now that’ll be the end of it. I will not look for you, I will not pursue you, but if you don’t, I will look for you, I will find you and I will verbally eviscerate you with devastating derision..
————–
Well, many of us don’t watch Hollywood crap, so we would not be familiar with that quote.
But Liam Neeson is a great actor.
Talking about Sailo:
He likes guns and as an American he’s a proud supporter of the Proud Boys
And the far right.
He believes in the American Way: Tupper Ware, Apple Pie and Shoot first and asked questions later.
And if that does not work, plead self defense or Citizens arrest
So, I think classifying his quote as a joke, goes a little too far.
But I’m ready to take him on any time, Mano a Mano at a pub of his choice.
CEF is a veteran of bar fights. I hear he was legendary at The Jolly Tax Payer Pub.
I want him to referee the fight, because I know Sailo will try to fight dirty.
Actually GrassHopper thats about 30 miles due East of me. And about 150 feet lower elevation. If things flood in my area we are all in trouble.
Those farms are Multi million $ property’s and by next year when things dry out and the Provincial relief / insurance claims are paid out will still be multi million $ set ups. A simple flood does not devalue them one cent in the long term.
Loan sharks must be truly puzzled at the complaints about atrociously low lending rates rates. Actually the loan sharks should complain loudest since it is hard to compete with almost free money.
Ponzie’s Public Transit Paradigm
I was reading The Economist today.
Seems public transit even in Ponzie’s Austria isn’t so well loved.
Issue Nov13, Page 55 Article on EU Railways titled “Disoriented Express”
.
In The Year of the Rail as EU bureaucrats whistle stop around Europe promoting Rail as the “green way” to go.
Alas the multiple countries with their conflicting schedules, trains, rails, locomotives, cars may be the reason only 8% of all trips by land in Europe are by….rail.
And I quote:
” Even in train happy countries such as Austria only 13% of trips by land are by rail. More than 75% or LAND TRAVEL IN AUSTRIA WAS BY CAR.
So much for Ponzie’s demands that polluting Canucks in Edmonton and Calgary need high speed rail when even Austrians shun the antiquated “Disorient Express…” to travel in the EU
:)
@#57 Alberta Guy
“Boil the frog…raise GST to 6% in 2022 and 7% in 2023”
++++
Dont worry.
Im sure the Liberals are burning the midnite LED for new “green” ways to tax the sh!t out of the middle class schleps that won’t see it coming.
An “earth” tax sounds world saving….
The FST ( Future Survival Tax)
The WST (World ……)
The HST (Humanity …..)
On and on and on the taxes will come.
And you, Good citizen…… will pay.
Turkey is spiraling rapidly into a “hyper” inflationary cycle
#37 Michael in-north-york
“All parties that promise to distribute the wealth evenly, really want to control the distribution process.”
Agreed, and to this day I can’t find a better way to express it than this:
“When plunder becomes a way of life for a group of men living together in society, they create for themselves in the course of time a legal system that authorizes it and a moral code that glorifies it.”
-Frederic Bastiat
It’s so sad that these plundering men, can deceive the intellectual giants such as crowdedelevatorfartz to cheer lead for them.
BoC needs to RAISE RATES
”That was when men were men ” Garth ! The Politically Correct Corrections Police will be breaking down your door in the wee hours of the night . Then The Human Rights Tribunal will be over to stitch together what is left of you to bring you to kneel in front of the Temple of Justine . Winston Smith comes to mind .
“But that’s when men were men.”
Since those days, Canada has fallen under the infantile influence and control of dog-worshipping greater fools.
@Nonplused
There are only two ways to do that: Allow production to increase or let price destroy demand. The first world is totally against increased production but wait until they see the results at the polls to demand destruction. Going green is all fine and dandy as long a you don’t have to pay for it personally.
*********
He could impose price caps…the public would love that.
#60 Ponzius Pilatus on 11.23.21 at 5:53 pm
But I’m ready to take him on any time, Mano a Mano at a pub of his choice.
CEF is a veteran of bar fights. I hear he was legendary at The Jolly Tax Payer Pub.
I want him to referee the fight, because I know Sailo will try to fight dirty.
++++++++++++++++
You want a referee ?? What kinda fight is that ? Sounds like Mano against Wiener.
From yesterday…
#150 Dragonfly 58 on 11.23.21 at 3:13 pm
Your statement Sail Away might technically true. But in reality very few jobs are going to be available to a Corporate entity as opposed to a direct employee.
Wife was a RN for over 30 years.{ retires at the end of the month } She works for a Health Region here in B.C. Fraser Health. Just like thousands of other RN’s. There are no jobs given to Personal Corp RN’s, 0 . Just people who work for the employer. Fraser Health would laugh anyone out of the job interview who presented themselves as anything other than a prospective employee. The Union contract for one thing would make such an arrangement impossible.
And so on for the vast majority of us who work in an employee / employer situation. In other words the vast majority of Canadians.
Your statement does not hold water in the world the lower 80% of us live in.
Which was exactly my point.
Dragonfly 58 — you are a marshmallow thief. You can’t stand anyone who saved their marshmallows taking a risk for the future in a desire to become successful. Case in point, your wife could have started the nurse next door-but it took an entrepreneur outside the medical field to do it.
Every job is a job coming from a corporation. Create a job by taking a risk and start a company. Stop complaining about others who take risks, and do the work….100% of the people can step up to the plate. In reality, only a few have the guts to step up to the plate. Most are scared or have excuses.
#36 Lynn on 11.23.21 at 4:38 pm
We took our credit card debt $30,000 and mortgage renewal so combined $230,000
_____________________________________
Have you no shame? (The first part of the sentence followed by the house is an ATM, second part.)
OOF!
#70 DON on 11.23.21 at 8:21 pm
@Nonplused
There are only two ways to do that: Allow production to increase or let price destroy demand. The first world is totally against increased production but wait until they see the results at the polls to demand destruction. Going green is all fine and dandy as long a you don’t have to pay for it personally.
*********
He could impose price caps…the public would love that.
Xxxxxxx
Yep that works for a while, then when caps become floors then this…
https://www.youtube.com/watch?v=HsQSMk9adC0
#63 crowdedelevatorfartz on 11.23.21 at 7:20 pm
Ponzie’s Public Transit Paradigm
I was reading The Economist today.
Seems public transit even in Ponzie’s Austria isn’t so well loved.
Issue Nov13, Page 55 Article on EU Railways titled “Disoriented Express”
.
In The Year of the Rail as EU bureaucrats whistle stop around Europe promoting Rail as the “green way” to go.
Alas the multiple countries with their conflicting schedules, trains, rails, locomotives, cars may be the reason only 8% of all trips by land in Europe are by….rail.
And I quote:
” Even in train happy countries such as Austria only 13% of trips by land are by rail. More than 75% or LAND TRAVEL IN AUSTRIA WAS BY CAR.
So much for Ponzie’s demands that polluting Canucks in Edmonton and Calgary need high speed rail when even Austrians shun the antiquated “Disorient Express…” to travel in the EU
:)
—
There are no bullet trains run by the Austrian Railway.
Country is too small and too many mountains.
What I noticed during my last trip to Austria that there were more cars on the road and the cars were bigger.
The car and oil lobby is now entrenched in the Austrian Goverment.
The Chancellor was kicked out recently because of corruption.
What has happened to Austria and Germany is that consecutive right wing governments have sold of the most travelled routo private interest.
And, like in Britain, the service has suffered and the prices have gone up.
Even the once proud and always punctual DB is now always never on time and is driven by profitability.
Germany is getting a left leaning government soon, with the Greens playing a major role.
So we’ll see.
By the way, 13% of Austrians taking the train everyday.
How many Albertans are doing the same? 0%%
everything is relative.
#60 Ponzius Pilatus on 11.23.21 at 6:59 pm
Well, many of us don’t watch Hollywood crap, so we would not be familiar with that quote.
____________________________________
I remember someone getting the lifetime ban for plagiarism here.
I thought our friend was channeling Hannibal Lechter.
And doing it well at that. Sad.
#71 Yukon Elvis on 11.23.21 at 8:39 pm
#60 Ponzius Pilatus on 11.23.21 at 5:53 pm
But I’m ready to take him on any time, Mano a Mano at a pub of his choice.
CEF is a veteran of bar fights. I hear he was legendary at The Jolly Tax Payer Pub.
I want him to referee the fight, because I know Sailo will try to fight dirty.
++++++++++++++++
You want a referee ?? What kinda fight is that ? Sounds like Mano against Wiener.
————————–
I’ll bring Arni along, just in case.
@#60 Pugilistic Ponzie
“CEF is a veteran of bar fights. I hear he was legendary at The Jolly Tax Payer Pub.”
+++
I never got in a fight at the Taxpayer.
Everyone was pretty chill.
Patrick the Aussie owner was bit bit of a martial artist.
I saw him toss a few people out the back door into the lane.
Wrk.dover on 11.23.21 at 4:35 pm
Yup, fellow downeaster now in Ottawa. Still own land down home. just sitting. Nice city, hate the bureaucracy.
I think you are forgetting something when you talk about the huge pile of debt our prime minister accumulated. Remember that he borrowed money so we wouldn’t have to. I am sure he meant that the debt is not our problem.
How bad are the mosquitoes in Fredericton?
#60 Ponzius Pilatus on 11.23.21 at 6:59 pm
But I’m ready to take him on any time, Mano a Mano at a pub of his choice.
CEF is a veteran of bar fights. I hear he was legendary at The Jolly Tax Payer Pub.
I want him to referee the fight, because I know Sailo will try to fight dirty.
———
Of course I fight dirty. Expect anything from Yo Momma to Faron’s favourite Short Bus.
Up one side, down the other. Ending with turnip jokes.
#78 crowdedelevatorfartz on 11.23.21 at 9:14 pm
@#60 Pugilistic Ponzie
“CEF is a veteran of bar fights. I hear he was legendary at The Jolly Tax Payer Pub.”
+++
I never got in a fight at the Taxpayer.
Everyone was pretty chill.
Patrick the Aussie owner was bit bit of a martial artist.
I saw him toss a few people out the back door into the lane.
———–
Apology.
But as Billy Bob said we’re all just figments of our imagination here.
Or Avatars, as Faron put it.
scenario 1: the debts (are all levels) are too much, too big to fail, so CBs will only temporary increase the rates, and then find an excuse to hold or drop. So the RE party goes on, the riskers (those why are buying now) are winning; those who hold cash are losing;
scenario 2: CBs are forced to increase the rate to a level high enough which starts hurting the RE/economy, recession/RE party ends. the riskers are tossed, and those who hold cash are still losing (recession is for everyone).
So no matter what, if you don’t join the RE party, you will be punished.
SAD!
#60 Ponzius Pilatus on 11.23.21 at 6:59 pm
I enjoy the gusto, but a greaterfool fight club? I think you’ve been eating too much sugar cereal…
Actually I concider myself and my wife quite successful , We own a house outright that is currently worth about 1.2 Million. But in what world does the next step up in real estate jump from $50,000.00 to 1.5 million in less than 20 years ? Who has made those sort of income gains in that sort of a time frame ? And I am not talking about a country estate situation. Just a very modest house on a small parcel of land. Its all ALR , almost impossible to sub divide . For probably 40 years or more at least. I have been in the area on my residential property in this area for well over 25 years now and have seen less than 1% new subdivided land. So no one is going to get rich off these properties for a very long time.
Wife and I invested in ourselves, worked hard for very good credentials, and worked very hard in demanding careers. All to be stopped dead in our tracks by a large group of very wealthy people relocating from outside of Canada parking cash in this area.
These comments of “just get rich” and buy what you want are just smoke and mirriors. If a good education and good jobs can’t buy anything but a lowest 2% priced place then there is something basic broken.
Like I said in another post, a multi million price tag for a very middle class situation.
Most of the properties that are sold in my area end up with the modest house that a few generations of Canadians lived in bulldozed and a several thousand square ft monster built in its place.
That is one fine looking dog.
Exciting day when I open today’s blog to find a familiar furry face. Great dog she is.
#53 Nonplused on 11.23.21 at 5:59 pm
….. Going green is all fine and dandy as long a you don’t have to pay for it personally.
I believe we are already in a “zeitgeist” change where the masses are awakening to what China and India already know: You can’t run a modern economy on intermittent power. That’s why they sell us solar panels and build coal fired plants for themselves. That’s why they agreed to nothing at COP26. Some 2070 targets maybe but nothing is on paper. They probably can’t believe we are so stupid.
And no, I don’t deny climate change. I remain in favor of nuclear energy as the most likely solution that can actually do something about it.
*********
I hear the resigfrustration (*first coined here, this day 11/23/21) in your written voice as you analyze the incoherence masquerading as competence and manifesting as town-crier-like self-adulation (virun anyone, anyone..) against your quite logical world view.
I share your resigfrustration…but now, mine borders on resigfrusnation. Hang tough, NP.
M57BC
#86 Dragonfly 58 on 11.23.21 at 9:47 pm
Actually I concider myself and my wife quite successful , We own a house outright that is currently worth about 1.2 Million.
Wife and I invested in ourselves, worked hard for very good credentials, and worked very hard in demanding careers. All to be stopped dead in our tracks by a large group of very wealthy people relocating from outside of Canada parking cash in this area.
———
All that plus at least one and maybe two DB pension and you choose to complain instead of give thanks for the bounty?
I have no words.
Stop your whining Turner, you financially illiterate twit.
When men were men and wore work socks, not socks made from your grandma’s curtains.
#74 Phylis on 11.23.21 at 9:00 pm
#70 DON on 11.23.21 at 8:21 pm
@Nonplused
There are only two ways to do that: Allow production to increase or let price destroy demand. The first world is totally against increased production but wait until they see the results at the polls to demand destruction. Going green is all fine and dandy as long a you don’t have to pay for it personally.
*********
He could impose price caps…the public would love that.
Xxxxxxx
Yep that works for a while, then when caps become floors then this…
https://www.youtube.com/watch?v=HsQSMk9adC0
************
Thank you Phylis. Yikes…and China is luke warm on releasing their reserves? Something ain’t right.
Looks like Garth’s been hitting up the strip clubs..rural NS ain’t cutting it anymore… vaxed ass is where it’s at!
https://www.instagram.com/p/CWov1xopUBl/?utm_medium=copy_link
Just wait ‘til I get my booster. – Garth
@#66 A Quintillion socialist plunderers raising taxes still cant run a profitable Lemonade stand.
+++++
“It’s so sad that these plundering men, can deceive the intellectual giants such as crowdedelevatorfartz to cheer lead for them.”
Pray tell.
Your heroes of forced “equality” are?
Lenin? Pol Pot? Castro? Chaves?
Those bastions of absolute equality where they get to lead…..absolutely.
Newsflash.
Trudeau ain’t no intellectual giant either….but I must admit….he looks very trendy in those tailored suits and brown shoes.
Just for ponzi and salio, but perhaps other should read it to!
https://27bslash6.com/officefight.html
#84 SAD on 11.23.21 at 9:45 pm
scenario 1: the debts (are all levels) are too much, too big to fail, so CBs will only temporary increase the rates, and then find an excuse to hold or drop. So the RE party goes on, the riskers (those why are buying now) are winning; those who hold cash are losing;
scenario 2: CBs are forced to increase the rate to a level high enough which starts hurting the RE/economy, recession/RE party ends. the riskers are tossed, and those who hold cash are still losing (recession is for everyone).
So no matter what, if you don’t join the RE party, you will be punished.
SAD!
**************
Only two scenarios? Not a recession for everyone, mileage will vary.
You assume people can fix this or Politicians will care when competing issues drain resources.
#70 DON on 11.23.21 at 8:21 pm
@Nonplused
There are only two ways to do that: Allow production to increase or let price destroy demand. The first world is totally against increased production but wait until they see the results at the polls to demand destruction. Going green is all fine and dandy as long a you don’t have to pay for it personally.
*********
He could impose price caps…the public would love that.
———————————–
As I am sure you are inferring, price caps lead to shortages and black market activity.
I am sure the Chinese would love it though. Them tankers at sea take a long time to turn but not so long that they can’t head for China if the price is better there.
88 VicPaul on 11.23.21 at 10:10 pm
#53 Nonplused on 11.23.21 at 5:59 pm
….. Going green is all fine and dandy as long a you don’t have to pay for it personally.
—————————-
Looks like you don’t understand what “going green” on a personal level means.
If you doing it right, it’s saving you money, not costing you.
The simplest way to start going green is “public transporting” to work.
I’ve done it for over 25 years, and I saved like at least 2 car purchases, and gadzillions in gas.
And, yes, I lived in the burbs.
Walk your kids to school.
Both of you will be healthier.
And last, but not least:
Get rid of the F-150!
75 Ponzie
“By the way, 13% of Austrians taking the train everyday.
How many Albertans are doing the same? 0%%
everything is relative.”
Lived in Calgary in the late 80s for school. Wife worked downtown, took the C-train everyday. I liked it for pub crawls at months end. You could buy someones transit pass and ride all evening.
” As of 2017, it is one of the busiest light rail transit systems in North America, with 306,900 weekday riders, and has been growing steadily in recent years.[6] About
45% of workers in Downtown Calgary take the CTrain to work.”
Edmonton has an even older but smaller system.
I dont see a high speed train from Calgary to Edmonton,
but who knows?
https://majorprojects.alberta.ca/details/Edmonton-Calgary-High-Speed-Rail-Line/4494
PS keepin the F150 for now.
@Nonplused
As I am sure you are inferring, price caps lead to shortages and black market activity
************
Yup.
Biden is transitory. He just needs to make it past the midterms and needs to been seen fighting for Joe and Mary America. And America likes cheap gas.
Why isn’t David Suzuki in jail on terrorism charges after threatening to blow up pipelines if he doesn’t get his way?
Trudeau says Canada will go all electric by 2030. How can media not challenge what are the most stupid statements in a century.
@ A quintillian minority govts as democracy eats itself.
https://www.reuters.com/markets/rates-bonds/swedens-centre-party-wont-back-budget-government-heads-toward-first-crisis-2021-11-24/
A “new” coalition govt in Sweden to replace the old coalition govt.
The Social democrats aligning themselves further Left with the Communist Party.
The govt may fall on it’s first vote…..and send them back to bickering, finger pointing and another election.
But never mind all that boring stuff about paralyzed govt., internecine squabbling, back room deals and deals with the devil that is inevitable in endless minority govts ( Canadian voters take note)
The first Female Prime Minister in Sweden’s history is more concerned about the equality message she is sending out.
#98 Ponzius Pilatus on 11.23.21 at 11:02 pm
And last, but not least:
Get rid of the F-150!
____
F-150’s are very green vehicles. They haul home the wood that heats my house so I don’t have to buy fossil fuels.
#92 DON on 11.23.21 at 10:47 pm
Xxxxx
Ya, I can’t verify anything it expressed and the ending was clearly a political statement, but even a glimpse was eye opening. Sleeping on top of the fuel tank… is it really true? Yikes.
@#103 IHCTD9
“F-150’s are very green vehicles. They haul home the wood that heats my house so I don’t have to buy fossil fuels.”
+++
And if it’s an “Eco Boost” F-150 you double saved the planet….
Go smoke a Cuban Cigar in celebration of those reduced carbon credits and blow a quintillian smoke rings.
#98 Ponzius Pilatus on 11.23.21 at 11:02 pm
“Looks like you don’t understand what ‘going green’ on a personal level means. If [you’re] doing it right, it’s saving you money, not costing you.[…]” Nonplused prefers not to cut his energy costs with carbon tax credits and/or rebates; instead, he pays the max, and—as a remedy in his mind—cavils about the carbon tax on this blog. You’re wasting your time trying to help him; he’s incorrigible. :)
Garth! Keep hope alive! Snippet from this morning NP on return to office. The beloved ‘Path’ rises from the ashes…
“All of this is starting to revive the downtown where, on a recent morning, the underground PATH system once again smelled of coffee and toasted bread as an eight-person line formed at the Bagel Stop. Around the corner, barbers were snipping away at the Truefitt & Hill barbershop while, just steps away, the desk bell at the dry cleaners dinged as a customer dropped off a suit.
A large-scale return for the financial industry would be a lifeline for downtown merchants and service providers. Toronto’s finance sector accounts for about 14 per cent of the city’s GDP and is key to its economic development, said Jennifer Reynolds, CEO of Toronto Financial International, which promotes the sector.”
Wealth, money, Money Printing and GDP
Has anyone taken a look at the total wealth in the world or a given country versus money and versus GDP.
I know it is the case that total wealth vastly exceeds total money. And I mean vastly. But that’s okay.
Wealth measured in units of money can be sold and turned into money and used to buy other things.
Wealth, I believe is created partly as GDP. A portion of Wealth might be roughly the total amount of GDP created since the beginning of time minus the amount consumed or otherwise deteriorated and gone. Much wealth might be created however just through people bidding up asset prices. Perhaps the vast majority of wealth today simply results from bidding up prices. A house that added 100k to GDP in 1985 now trades for $1 million.
A challenge to the armchair economists out there to take a look at the figures. What are the implications if total wealth (a claim on GDP) is say 100 or maybe 1000 times annual GDP?
We talk about too much money chasing a finite GDP of goods and services. There is even more so too much wealth that could chase the GDP? It’s all fine unless too many people decide to cash in inert wealth and change it into tangible consumable goods and services?
#99 Dr V on 11.24.21 at 12:27 am
75 Ponzie
“By the way, 13% of Austrians taking the train everyday.
How many Albertans are doing the same? 0%%
everything is relative.”
Lived in Calgary in the late 80s for school. Wife worked downtown, took the C-train everyday. I liked it for pub crawls at months end. You could buy someones transit pass and ride all evening.
” As of 2017, it is one of the busiest light rail transit systems in North America, with 306,900 weekday riders, and has been growing steadily in recent years.[6] About
45% of workers in Downtown Calgary take the CTrain to work.”
Edmonton has an even older but smaller system.
I dont see a high speed train from Calgary to Edmonton,
but who knows?
https://majorprojects.alberta.ca/details/Edmonton-Calgary-High-Speed-Rail-Line/4494
PS keepin the F150 for now.
——————————-+——
I meant real (choo-choo) trains. In Austria, trains get you about anywhere.
Not commuter trains. Lots of those in the larger cities in Austria. Not counted in the 13%.
Regarding pub crawls. I had a monthly pass on the Westcoast Express, Coquitlam to Downtown. 120 bucks.
Every Friday, and sometimes in between, we hit the pubs.
103 IHCTD9 on 11.24.21 at 8:05 am
#98 Ponzius Pilatus on 11.23.21 at 11:02 pm
And last, but not least:
Get rid of the F-150!
____
F-150’s are very green vehicles. They haul home the wood that heats my house so I don’t have to buy fossil fuels.
———————————
Haha,
But could just buy a Nissan Micra (you get 4 for the price of 1 F-150) and then put a buggy behind it.
I did that once.
#101 Hanuman Gaur
Why isn’t David Suzuki in jail on terrorism charges after threatening to blow up pipelines if he doesn’t get his way?
Trudeau says Canada will go all electric by 2030. How can media not challenge what are the most stupid statements in a century.
—————————————–
Excellent questions Hanuman, and ones being asked by almost nobody.
Now to be fair, Dr. Suzuki did not say that he himself would blow a pipeline, but merely predicted it was likely happen. A fine point you might say, but enough to keep the law at bay.
Still, it’s the kind of comment you should expect from a bitchy, self aggrandizing has-been publicity hound. The media loves him for that and they are not yet ready to bite the hand that feeds. Perhaps some day.
Another epic publicity hound is the PM himself who knows nothing of physics, power density, or economics and is thus free to proclaim any miraculous future he dreams of. He won’t be in power to answer any difficult future questions anyway. Perhaps he’s wise beyond his years after all.
#94 crowdedelevatorfartz
“Pray tell.
Your heroes of forced “equality” are?
Lenin? Pol Pot? Castro? Chaves?”
Cheap shot, I criticize our system because if falls short of its claimed ideals. And not because the characters you referenced are my heroes. (Although they replaced, or were a backlash, to perhaps a greater evil than themselves.)
Democracy as is now, is merely a popularity contest with no substance, consisting of sound bites, its partner in crime is disguised as free enterprise ,but is actually Cronyism.
A crusty, and cynical curmudgeon like you should know this.
#110 Ponzius Pilatus on 11.24.21 at 11:20 am
Haha,
But could just buy a Nissan Micra (you get 4 for the price of 1 F-150) and then put a buggy behind it.
I did that once.
____________________________
There’s a property maintenance guy around here that pulls a galvanized CTC $1,000. trailer up and down the highway with a runt Focus, almost daily.
They don’t sell trucks sized like that combo, except everywhere else that isn’t North America.
Due to attitudes here.
Be the change!
I used to go to a Reddit site (Shitty Carmods.com) and collect pics of cars turned into open back trucks. I tired of it when I got hundreds of them.
From Austins to Vettes and Volvos and everything in between.
It’s all about demand and no supply of trucklettes.
#90 tbwbi That was totally uncalled for. The man helps most folk. Please do be more respectful. Btw what are you doing to improve the situation besides whining?
#94 crowdedelevatorfartz on 11.23.21 at 10:53 pm
@#66 A Quintillion socialist plunderers raising taxes still cant run a profitable Lemonade stand.
+++++
“It’s so sad that these plundering men, can deceive the intellectual giants such as crowdedelevatorfartz to cheer lead for them.”
Pray tell.
Your heroes of forced “equality” are?
Lenin? Pol Pot? Castro? Chaves?
Those bastions of absolute equality where they get to lead…..absolutely.
Newsflash.
Trudeau ain’t no intellectual giant either….but I must admit….he looks very trendy in those tailored suits and brown shoes.
————————————————————————————————
Yes Justin is a snappy dresser
https://www.youtube.com/watch?v=efHVcgUajtA
Garth if the politicians didn’t think deficits were a good idea they would make them illegal and cut government spending no matter how much bitching and whining comes from the public. Admit it Garth. Politicians have no moral or fiscal discipline or sense of responsibility.
They think 50% plus 1% and the right to make law is all that is needed.
109 Ponzie
“I meant real (choo-choo) trains.”
So you are advocating steam-powered trains using fossil
fuel on industrial “heavy rail” as a primary people mover?
@#112 A Quintillian heroes.
“A crusty, and cynical curmudgeon like you should know this.”
+++
I do know that but thanks for reminding all the other sheeple.
Oh, you left out “smelly” in your accurate description of me.
A few short years ago, When a hand shaken was accepted like GOLD, it was giving your word.
Today an hand shake means little, sometimes a contract is nothing only a big hold, for people who has little recognition or appreciation.
This day an age, a hand shake is risky financial beyond the cost of a cup of coffee.
https://globalnews.ca › news › canad…
Parents worried about putting food on the table as inflation soars
https://globalnews.ca › news › canad…
Parents worried about putting food on the table as inflation soars