Holy crap

“Did you know-it-all Bay Street people see this one coming?” Jen taunted me in a Friday morning email. “This is why you’re all crooks, selling dreams. I’m sticking with my GICs that you love to mock.” And with that, she harrumphed off into my inbox.

So Wall Street laid an egg at the end of the week. In fact markets everywhere sold off. Toronto, New York, Emerging markets. Oil. Even Bitcoin. Bonds went up for a while as stocks went down. Everybody woke up, looked at the chart below, and decided to retreat for the weekend. The new version of the slimy little pathogen emerged in South Africa. It looks nasty, contagious and nobody yet knows if it will laugh in the face of Pfizer.

The fear is simple. Covid comes back stronger. Longer. The global economic recovery’s delayed or derailed. Central banks are thrown into a quandary. Do they raise rates to quell inflation that’s running way too hot and disrupting society, or keep them low to defend against this B.1.1529 thingy? After all, they can’t do both. And in Canada we are very, very, very close to the bankers shifting gears. Already they ended their simulative bond-buying and indicated the first rate hike is 20 weeks away.

Or, maybe the variant is just the last straw leading us into a healthy, overdue and welcome correction. Markets which don’t stop to catch their breath can get into trouble. When prices detach from fundamentals, a pullback is required. And yes, Jen, nothing goes up forever.

How much does this matter? Enough to flee to the serene torpor of a 2% GIC? After a one-year 30% gain as post-virus optimism built, have stocks (like houses) reached a point where a crash is inevitable?

History helps.

Over the last 20 years there was some serious, scary bloodletting in equities. In 2001-2 we had the dot-com-bust bear market. Markets gave up 45%. Then there was the 2007-9 credit crisis when US real estate collapsed and took Wall Street investment banks with it. Stocks plopped 53%. And Covid crashed hard in 2020 for the fastest bear market ever. Down 35%.

Despite that, someone who invested in US equities two decades ago, then went to sleep, has seen a 9.48% average annual return. In total over this time, stocks gained 507% (far more than any real estate market in Canada). Even factoring in inflation and taxes (if assets were held in a non-registered account), equity investors were winners.

Now let’s look at Jen’s choice.

Below are the returns for GICs over the last three decades. After inflation, the return on a one-year guaranteed investment certificate has been negative almost single year since 2000. Savings stuffed there were not protected. They were whacked. Two decades later those savers came away owning less than they started with in terms of purchasing power. The safety was an illusion. And so was the myth of preservation of capital.

Click to enlarge.

What happens now?

No idea. Maybe this variant is the real deal and will defeat the vaccines. Then more will be found. Maybe it’s just a reason to sell off stocks and take profits after a huge runup because of the inevitability of rising rates and the end of CB stimulus. Perhaps it’s just people rebalancing and harvesting gains.

Whatever. It’s immaterial. History tells us such events are irrelevant. Predictable, almost. And Jen is succumbing to emotion. She fails to understand the true nature of risk. As we’ve oft said, the greatest threat is running out of money, not losing it in an asset that plops. Especially for women. Especially in GICs.

The average bear market (when values fall at least 20%) lasts 280 days. The average bull market lasts about 1,000 days. Stock markets are a proxy for the economy. If there is growth, population expansion, hiring or tech progress (all happening), markets reflect this.

But shocks come. They may be short, but they’re impactful. Volatility can spike. This is precisely why a balanced and diversified portfolio works. It holds assets that are safe and likely to rise when stocks fall, as well as growth assets giving long-term results. There’s also a variety of stuff – from boring bonds to hybrid preferreds, to commercial real estate to corporate debt to near-cash securities and stock indices around the world.

Set it. Forget it. Rebalance occasionally. Stuff your tax shelters. Turn off BNN and turn on Hudson and Rex. Chill.

Panic is so 2020.

About the picture: “These are my 2 dogs,” writes Ken, “Spencer in the left who I adopted at 20 months old and Sopie who I got as a pup. He is 8 now, she 5. Honestly they are the 2 nicest people I know.”

109 comments ↓

#1 Heenan on 11.26.21 at 2:05 pm

I scarred

#2 TurnerNation on 11.26.21 at 2:06 pm

#43 zxcvbnm on 11.25.21 at 5:44pm . See only by posting the mainstream website links can I live quietly among the masses.


–Two things here. I have been saying since 2020 that the A.I. will be running the New System. (Humans might show some compassion). And then we have the inevitable layoffs as the A.I. takes over.

Step 1:

“(CTV) “CALGARY – WestJet and TELUS have teamed up for a first-of-its-kind trial in Canada that will see facial recognition used prior to boarding for some flights at Calgary international Airport.”

Step 2:

.Switzerland starts to use facial recognition for vaccine passports(news.in-24.com)

.Starbucks Pickup and Amazon Go have opened up a brand-new concept on the Upper East Side of Manhattan that will allow people to purchase and pick up food and drink without human interaction. (bisnow.com)


— We will continue to see daily changes, new laws and chaos – as more of the Old System we knew, is torn down. Of course we never again will be allowed free Travel/Movements.
Gunning for permanent Social and Economic Lockdowns.
Christmas must be again cancelled…what a surprise.
And how much are they spending on adding “Hospital Capacity?” I thought so.

.Ireland: New bill would let State detain suspected potential Covid spreaders
https://gript.ie/new-bill-would-let-state-detain-suspected-potential-covid-spreaders/

Ireland: Justice Minister says mandatory hotel quarantine could return over new Covid-19 variant (thejournal.ie)

.”Saskatchewan has implemented a policy that forces unvaccinated doctors to declare that status to their patients before seeing them” (Rebel News).

.Netherlands bans flights from southern Africa over new Covid variant (nltimes.nl)

.South Africa to be put on England’s travel red list over new Covid variant (theguardian.com)

.Portugal returns to COVID restrictions despite high vaccination rate (abcnews.go.com)

.Merkel’s push for German lockdown reportedly blocked (cnbc.com)

#3 Dolce Vita on 11.26.21 at 2:17 pm

I was hoping they would call this variant of concern “Nu” like everyone expected (ya, right up there with Beta and Delta).

But oh no, they went and called it boring old:

Omicron
[no cool Greek symbol like ν]
https://www.bbc.com/news/live/world-59426277

I was enjoying the confusion between “Nu” and “New” on Twitter, for example:

https://twitter.com/ProfColinDavis/status/1463920495242448896

So far all it’s looking is as a Supercharged Delta in transmissibility. Nothing on antibody effect yet, RKI just an hour or so ago:

https://www.rki.de/DE/Content/InfAZ/N/Neuartiges_Coronavirus/Virusvariante_B11529.html

2 hr ago 6 African country travel ban by the EU, UK as well. For a reasonable size-up watch this from BBC:

https://www.youtube.com/watch?v=dxxQFHKeOSI
https://twitter.com/LaStampa/status/1464259426295029767 [EU ban]

———————-

PS: We’ll take good care of him Canada (Recall: we’ve had plenty of practice):

“Bryan Adams tests positive for covid on arrival in Italy” – today.
https://www.wantedinmilan.com/news/bryan-adams-tests-positive-for-covid-on-arrival-in-italy.html

#4 highlander on 11.26.21 at 2:18 pm

Voice Of Reason – As Always – Thank You Garth!

#5 Billy Buoy on 11.26.21 at 2:19 pm

Long and strong oil

No more taper or interest rate rises if this continues.

The big boys just needed a dip to buy. Especially on a perfect half day in the USA

What a frwkin coincidence the new variant was announced today.

It’s all fixed by the biiiig club of 1%ers.

#6 New Flavour on 11.26.21 at 2:20 pm

OH NO! A NEW VARIANT!

https://www.theglobeandmail.com/world/article-alarmed-by-covid-variant-detected-in-south-africa-europe-and-asia/

Who could have possibly seen it? (and predicted it on this blog repeatedly at least 6 months ago)

Who would have predicted that it would be the vaccinated with they passports traveling like nothing is going on who would spread it around?

Who could have possibly predicted that it would be a variant that nullifies the vaccine efficacy?

Who could have possibly know that (as usual) they would tell us about it after it has already spread and is likely everywhere.

#7 Dolce Vita on 11.26.21 at 2:24 pm

Omicron being sequenced for nastiness as I type here in the EU:

“Omikron variant: Biontech tests vaccine effectiveness”
https://kurier.at/wissen/variante-b11529-biontech-prueft-impfstoff-effektivitaet/401820055

and it’s spreading besides Israel and Hong Kong…

“Omikron variant arrived in Europe: Belgium registered case”
https://kurier.at/chronik/welt/neue-corona-variante-in-europa-angekommen-belgien-registrierte-fall/401820046

Expect more news like this since in reality it’s only been since yesterday the World learned about it.

—————

21st C medicine working on it. They’ve stopped travel to/from those 6 African countries right away (smart move here in Europe, finally they got on top of it right away) so:

Don’t panic and ABOVE ALL don’t go look at your portfolio today.

#8 Apocalypse Dude's Drunken BIL on 11.26.21 at 2:30 pm

Apocalypse, where are you, bro ???

The markets are about to explode, war will begin and TRILLIONS OF CANADIANS WILL DIE!

Hurry back and tell us how to PREPARE.

PLEASE!!!

#9 Pbrasseur on 11.26.21 at 2:32 pm

Recession is coming, big one and global, China will crash, bringing down commodities with it, debt overwhelmed Canada is in for a world of trouble.

Just a matter of time, but crazy money printing, inflation and labour shortages got to be solved somehow, recession is how. Many businesses will close, permanently, finding a job won’t be so easy when all this is done.

#10 Big Bucks on 11.26.21 at 2:34 pm

Gic’s it is true have been a terrible investment since rates have been lowered to these artificial,stimulative levels.(.25%?Seriously?)But if GIC rates ever do return to 5-6% they will give the TSX a run for it’s money.The TSX was at 11300 in 2000 and has not even doubled in 21 years(so less than 5%/yr ,not including Dividends of course)Human nature being what it is hates losing so few just invest and fall asleep.Give many a 5-6% GIC not to mention the 10% rates(or briefly 19%rates in 1979-1981)and they will jump at them even if long term they don’t match the equity markets.

#11 Paddy on 11.26.21 at 2:35 pm

Looking forward to Jen’s retort…..she called you a crook man….jeez

#12 Brad on 11.26.21 at 2:36 pm

I rebalanced my RRSP 14 days ago. I’m retiring in 18 months and it seemed prudent to take the gains. I’m now 60% GIC/cash and 40% equities, which I may just make 70/30 if this keeps up. If you need the money inside of 24 months, why not mitigate the risk? Yes, I am backstopped with a DB pension plan from 30 years of work with the Ontario public service.

#13 Is anybody home? on 11.26.21 at 2:39 pm

Dr’s Malone and Navarro are very worried with this new variant!

https://warroom.org/2021/11/26/episode-1441-malone-navarro-on-vaccine-resistant-variants-supervirus/

#14 tkid on 11.26.21 at 2:43 pm

Jen, the market is up this year over 15%. A 2% down day is a nothingburger. Chill.

#15 Dolce Vita on 11.26.21 at 2:45 pm

BTW, agree with Garth.

Chill.

It will take 21 C medicine a couple of weeks to fully figure out Omicron vs. current vax efficacy (maybe even months).

If you want to see the definition of kanipshit just go on Twitter and use these search handles:

#Omicron [ahead of the curve with the new name]
B.1.1.529 [for those that don’t keep up & like techy dot.number formats]
#NuVariant [panic from last night to mid-day, CET, until the new name came along some switched over to #Omicron, others found a home here]

——————–

As I said, I’m with Garth on this until we know more (ability to diminish immunity).

I must say though you know people are upset even when the Zeitgeist guy has had enough.

https://twitter.com/ZeitgeistFilm/status/1464258733416988679

#16 Soviet Capitalist on 11.26.21 at 2:47 pm

Garth is right.

Has anyone read this BoC paper -> https://www.bankofcanada.ca/wp-content/uploads/2021/11/swp2021-58.pdf .

There is a lot of convoluted language in it in order to confuse the reader, but I think they are saying they’re going to print more.

#17 Big Bucks on 11.26.21 at 2:47 pm

The FTSE(one of the largest markets in the world) was at 6700 in 1999 and 22 years later is at 7000 so basically flat and that is with ultra low accommodative interest rates.Interesting indeed.

#18 Dave on 11.26.21 at 2:51 pm

Every asset class has been hit…

Except Real Estate….Trudeau will not let it go down. He will counter any BOC moves. BOC has done nothing in 10 years

#19 Canadian money system sucks on 11.26.21 at 2:57 pm

In South Africa they can get a 9% to 10% bank deposit, GIC equivalent. It look like we are losers.

#20 Where's Doug on 11.26.21 at 2:59 pm

Doug said it was all over.. financial advisors are never wrong!

#21 Duffy on 11.26.21 at 2:59 pm

Moderna stock up 20% today, the needle Gods will save us again.
Watched some CPAC yesterday, after watching the house of commons question/deflect period, I had to listen to some Miles Davis to make myself better again. Similar to taking baking soda for severe heartburn.

#22 db on 11.26.21 at 3:01 pm

If you’re a crook Garth you need to up your game. A blog with no ads? Failure to post advertorials and embedded content, moreover how on earth can a dog based fin site not jump on the DogeCoin bandwagon for a slice of the action?
I’m hoping Jen doesn’t work anywhere near the criminal justice system…it would be scary if she were tasked with identifying actual crooks.
As for the variant of concern it rather brings to light the recommendation to get the entire planet a single dose before double doses ensued. Unfortunately, for a myriad of reasons that strategy failed.
Were left with circuit breakers, national borders and money printing which all come with serious short and long term consequences.
A market correction is scary but nothing near as consequential as the strain on the healthcare system or the ramifications for the supply chain.
Regarding yesterday’s post, HELOC’s are recall loans aren’t they? How can anyone purchase a new house using a recall loan? Isn’t it more likely they obtained a 2nd mortgage or remortgaged their existing home to buy an ‘investment’ property?

#23 Faron on 11.26.21 at 3:04 pm

#7 Dolce Vita on 11.26.21 at 2:24 pm

Cool thing about mRNA vaccines is that they can be updated fairly quickly. Still need to be tested. But, the process will require less of an Operation Warp Speed this time around.

Of course, then they have to figure out how to put in the 5G carbon nanotubes 4 mynd controlz. That’s the hard part! Patience everyone.

Anyhow, I bought the dip and felt proud of myself after a 0.5% gain… that quickly was given up. Plenty of rain on the way to wash off the tears.

#24 Nonplused on 11.26.21 at 3:04 pm

Once the “wealth tax” is established, does the government have to issue refunds when something like this happens?

Anyway, never read too much into what happens on a long weekend. The fake news is busy retracting most of their stories from the last 4 years, it turns out the oceans have been warming since before CO2 became an issue, and the head traders are all at their houses in the Hamptons. This is the perfect time to do such things because nobody is watching TV. They are all out in the garage enjoying appetizers and waiting for their rapid PCR test results.

My guess is it is just Robinhood liquidating so they can take advantage of black Friday. Oh and Musk selling Tesla so he can pay taxes. Who knows what that is doing to everyone’s margin balance.

#25 Mr Happy on 11.26.21 at 3:07 pm

“Did you know-it-all Bay Street people see this one coming?” Jen taunted me in a Friday morning email.”

Uh….ya…. Garth and his fellow bloggers have said in the past…markets are at an all time high….they will blow off some steam. As I look over my 1 & 5 yr returns…I’m still double digit in the “+” side. Still way better than a GIC that does not even keep up with inflation. Last time I checked, inflation was around 4%?? I’m guessing your GIC’s won’t see a “+” for a long while yet…

#26 Be One on 11.26.21 at 3:10 pm

Boo! Halloween is not over!

Be one as in B.1.1529 already be in Canada.

https://nationalpost.com/news/hong-kong-confirms-two-cases-of-new-covid-19-variant-one-travelled-from-canada

#WFH4EVA!

#27 Dolce Vita on 11.26.21 at 3:11 pm

As I read here, many just right into this whole new variant of concern, Omicron.

Well, besides the kanipshit tips, in a prior Comment of mine, where to go for this sort of thing you can also just go to BBC’s site, better BBC on Twitter as they are:

Just CHURNING out the CLICKBAIT by the MINUTE.

2 min ago:

“What are the Covid variants and will vaccines still work?”

https://www.bbc.com/news/health-55659820

No one knows yet people, not even Pfizer that is sampling Omicron as I type and what will happen. Still enjoy the clickbait.

Better to chill, get the popcorn out and enjoy watching segments of humanity with its hair on fire.

#28 Alberta Ed on 11.26.21 at 3:11 pm

GICs were great for us… 35 years ago when they paid 8-12%. Now they’re money losers. As far as the latest virus scare, panic has already done more damage than the disease.

#29 GIC George on 11.26.21 at 3:13 pm

Highest 5 year GIC rates 2.6% to 2.85% shop around folks or within RRSP, TFSA compounded annual GIC interest rate 2.738% to 3.0171% or 13.693% total compound interest to 15.0857% by maturity 5 years.

Why would you be satisfied with negative returns? – Garth

#30 Is anybody home? on 11.26.21 at 3:19 pm

Market predictions for Monday?
How about market circuit breakers tripped!

#31 Vital Code on 11.26.21 at 3:21 pm

#3 Dolce Vita

Branding D.V. It is so important.

Wonder if these variant naming rights will be for sale anytime soon, you know, like naming rights to arenas. Maybe proceeds can go to pay for vaccines for poor countries who can’t seem to get any because they are…well, you know…poor.

RE: Brian Adams. So…he potentially moved a potential variant from point A to point B on an airplane, yes?

Maybe one that undermines vaccine efficacy in that new region he’s stuck in now?

Don’t think I’m picking on the national treasure that is Brian Adams. I now know 4 people who traveled internationally and came back with a breakthrough infection, catching there, bringing back here.

Just in case you thought the passports had sound scientific basis and protected us. They clearly don’t.

#32 crowdedelevatorfartz on 11.26.21 at 3:21 pm

@#12 Brad
“Yes, I am backstopped with a DB pension plan from 30 years of work with the Ontario public service.”

+++

Cry me a river

#33 Lynn on 11.26.21 at 3:27 pm

Running out of money is not a GIC thing or savers thing. I know plenty of people that have alot of money in real estate and stocks, EFT’s, corporate bonds, REIT’s, other investments, businesses etc. and are going through their money like it is water.

I know people that all they do is save alot of their money in GIC’s, TFSA GIC’s, RRSP GIC’s, RESP GIC’s, RRIF GIC’s, LIF GIC’s, DSPS GIC’s, LRFIF GIC’s, RDSP GIC’s and have more than 20, 30 times their income in or near retirement. They are also smart to not be in debt and fall for cheap, low interest rate game but never look at the monthly payments that add up for all the crap they buy. They are shocked to see their total monthly credit card, line of credit, payday loans, personal loans, car, vehicle loans, boat, recreational loans, mortgage payments etc. be $5,000, $6,000+ and debt reaching in the hundreds of thousands and their cost of living, lifestyle gets them buried in massive debt of $5,000 to $9,000 each money, $500,000 in a half decade or 1 decade.

#34 willworkforpickles on 11.26.21 at 3:29 pm

Interest rates are headed upward and sooner than most think despite all the fear mongering. The time for them to adjust upward as a matter of force rather than by selection may have moved up a notch with the latest news. The time to pay the piper is coming and is unavoidable no matter what the bloodletting. Still, too many thick skulls don’t see it.

#35 NOSTRADAMUS on 11.26.21 at 3:29 pm

THE REVENGE OF THE ” WEE LITTLE PEOPLE.”
I am referring to the wee little people who have been kicked under the bus by inflation, along with zero interest on their hard earned savings by our political masters. All the while the bankers are engaging in an incestuous love affair with the speculators. When, not if, the markets encounter some turmoil, heaven forbid, the speculators feet will be put to the fire. The bankers and their ilk, will, surprise, be once again bailed out and made whole by the wee little people. The bought and well paid media, go on and on about wages going up to counter the rampant inflation. Meanwhile back at the ranch the CEO has begun a “Whisper Program” in that he may have to lay people off because projected sales moving forward are not looking too promising. Listen up, Wee Little People, be happy you have a job. “REVENGE IS A DISH BEST SERVED COLD.” For those with their ear to the rail there is a paradigm shift occurring in the ranks of the Wee Little People. They are starting to embrace the concept of buying used. This is no cottage industry this is in fact a 65 Billion a year dagger through the heart of the retail sales industry. Think about it for a minute, why pay retail when you can buy used for a fraction of the cost. Every mall, and down town main street has at least one, Thrift Shop, Salvation Army Store, Good Will , Mission Store, Re-Store, on and on, all used outlets. And lets not forget the online auctions, E/Bay, Amazon, etc. To the dismay of the Government, these entities are paying little if any taxes on purchased goods. There was a day you held your head in shame if you got caught in a Salvation Army store. Not any more, it is a badge of honor. This is the responsible way to cloth and support your family. Even the Environmentalists, try as they may, can’t fault you on this concept. Once you embrace the used second hand market there will be no way you will ever be going back to retail for the majority of your purchases.. As to savings, get your head around 10 to 1, in other words $1.00 at the Salvation army will equate to $10.00 spent at the mall. I can just hear the argument, I would never buy used, guess what, the moment you walk out of the mall your new purchase is used, and is now worth 10 cents on the dollar. Apparently 70 percent of our economy is built around the concept of people spending money. Well, for the Wee Little People who embrace this concept, it may be the only way to survive and hold your head high. Amen Brother.

#36 Rock'n'Roll on 11.26.21 at 3:32 pm

#3 Dolce Vita

Since you mentioned Brian Adams, our Canadian rock, star, have you seen what happened to Eric Clapton?

Yeah, the dude is totally pro-vaccine, got vaccinated, but because he’s such an influencer his experience has been tossed into the anti-vax column and he’s been shamed. The madness of the world!

With such shaming of a Rock God, it made me see how quickly the steam roller can come after you if you dare say something that may not align to the narrative. Even Rock God status won’t help you.

Suddenly I realized what a minefield Garth is walking even allowing comments on here.

#37 Linda on 11.26.21 at 3:35 pm

Adorable pup photo:) They look like very contented dogs.

Today’s market fluctuations. Given the sheer volume of Black Friday shopping deal emails into the inbox, I’m thinking the market drop is part of the sales day frenzy! Seriously, am I the only one who sees a discounted buying opportunity here?

#38 Jake on 11.26.21 at 3:37 pm

If the Bank of Canada buys not $260 billion in more government bonds but buys $1 to $1.20 trillion in more bonds which looks likely as they do this every winter now, a 9%, 5 year GIC is coming to levels not seen since 1993 to 1994.

#39 Yukon Elvis on 11.26.21 at 3:37 pm

This little dip in the market is much ado about not much. If and when it drops another one or two thousand points I will jump in with both feet again. I have nothing to sell or rebalance,just waiting for the deals .

#40 Chameleon on 11.26.21 at 3:39 pm

UNBELIEVABLE!

Dogs stealing my trick to look like cows and not be found out as useless and not at all delicious, even when slow cooked at low heat.

Outrageous mockery of a far superior animal by these dogs.

#ThisOneForFelix

#41 Doug in London on 11.26.21 at 3:44 pm

@Yukon Elvis, post #39:
My thoughts also. When I heard about this drop in stock markets, I was excited about getting some amazing deals. So far it’s largely a non event, a tempest in a teapot, like all the troubles that were supposed to occur when the date rolled over to Y2K. I’m staying tuned, in case some good deals actually do come along.

#42 Felix on 11.26.21 at 3:48 pm

Happy Feline Friday!

Did you know:

On Black Fridays, you may be able to trade in your useless canine for a discount on a useful product, like a spatula or a bag of toilet paper.

#43 april on 11.26.21 at 3:50 pm

According to CREA “Housing Market Snapshot For October 2021
Home sales are down 11.5% across Canada, with 52,538 sold in October 2021, compared to 59,344 in October 2020
The Canadian Real Estate Association.

#44 Wrk.dover on 11.26.21 at 3:54 pm

Jen’s CDN$ GIC dropped 3% against the almighty US$ this month.

Oops, so did the notational CDN$ value of a B&D portfolio.

The algos sold more than the algos bought because buy orders were set on pause during a holiday even bigger than Christmas to the gun culturists.

You can’t fathom how big Thanksgiving is down there until you are there through it. Even 24/7 stores close that afternoon and evening!

#45 Sail Away on 11.26.21 at 3:54 pm

#37 Linda on 11.26.21 at 3:35 pm

I’m thinking the market drop is part of the sales day frenzy! Seriously, am I the only one who sees a discounted buying opportunity here?

———

Well, since you’re the fifth or sixth person who posted about it today, I would venture to say you are in good company.

#46 Chameleon on 11.26.21 at 3:56 pm

By the way…

“Honestly they are the 2 nicest people I know.”

How delusional can dog owners be?

First, they claim to be animal lovers, while eating animals and feeding animal meat to their dogs.

Then they dress them in clothing, probably made by child slave labour in 3rd world countries where buildings collapse and kill hundreds.

Then, they claim to love their dogs so much…porbably because they are a lesser species and do what they are told, are totally controlled by their human overlords, live at their pleasure, never talk back, and obey commands: sit, stay, lay dawn. Good subservient species.

And then they confuse species and declare dogs as people?

If you think dog owners are superior quality individuals, perhaps run that calculation though your noggin again. Think about who spreads this myth.

Garth even infected the other two occasional posters into compliance, and they’ve been featuring this creature and their obsession of dogs on here.

Come on Garth, one time…an elephant, a mouse, a pigeon, a turtle…all that I’m saying is, give another creature a chance. Some creature perhaps that isn’t a product and doesn’t depend on humans for survival?

#47 Dolce Vita on 11.26.21 at 4:02 pm

EU Omicron Virus Porn…hot off the press.

So EU has a travel ban on S. Africa et. al.

Meanwhile KLM flies in 2 planes loads from there like 1 hr ago, 650 in all, some infected:

https://www.telegraaf.nl/nieuws/667050807/reizigers-z-afrika-na-positieve-test-verplicht-in-hotel-isolatie

Gov Holland reaction, just in case they try to escape their quarantine hotel and mingle with the locals would be my guess:

“Rutte: from Sunday evening lockdown of three weeks, schools open under strict conditions”

https://www.telegraaf.nl/nieuws/1976524572/rutte-vanaf-zondag-avondlockdown-van-drie-weken-scholen-onder-strenge-voorwaarden-open

——————–

#36 Rock’n’Roll

I saw that on Twitter. Just as disgusted as you are.

People are fickle what can I tell you.

Nothing yet on Bryan Adams but he ought to be in good hands in Milano and he is well liked here so I would guess some extra TLC for him. Still loved it when he did a duet with Pavarotti, that took cojones and he pulled it off:

https://www.youtube.com/watch?v=5a0juQ0aeGI

What’s there not to love about Bryan.

#48 the Jaguar on 11.26.21 at 4:03 pm

#128 Sail Away on 11.26.21 at 11:40 am
#117 the Jaguar on 11.26.21 at 10:28 am
…quality trumps quantity. That what is essential is invisible to the eye. Other uses are made once the peeps digest the existence of availability on limit. New car (bad idea)
Hmmm… I will always favour the new car. If there is one item critical to most people, it is their car.
It’s not the purchase of the car, but the amortization of debt related to the purchase over such a long period of time. Depreciating asset. I love my car. Standard transmission. No air, no power windows, no frills. Great wheels though. ++++++++++++++++++++++

@#2 TurnerNation on 11.26.21 at 2:06 pm
“(CTV) “CALGARY – WestJet and TELUS have teamed up for a first-of-its-kind trial in Canada that will see facial recognition used prior to boarding for some flights at Calgary international Airport.”

This is an interesting debate. I know the issue of ‘Privacy’ is always brought up, but I am not bothered in the least. Nothing to hide. Catch the bad guys any way you can, n’est pas?+++++++

DonG. Interesting video re Nigerian oil. That why they murdered Ken Saro Wiwa.

#49 JacqueShellacque on 11.26.21 at 4:04 pm

“[S]omeone who invested in US equities two decades ago, then went to sleep, has seen a 9.48% average annual return. In total over this time, stocks gained 507% ”

I don’t think so, Garth. Walking through a given amount of money, say $100,000, from Jan 1, 2000 and calculating the value after each year’s gains or losses yields a value on Jan 1, 2021 of $254,520. That’s a compound return of 4.55%, less than half of 9.48%, and inline with the geometric return, which thus seems to be the more appropriate measure. Even if it did gain 507%, then the value should be $507,000 after 21 years. $100,000 compounding at 9.48% for 21 years should yield $669,932. Also the arithmetic average of all the gains and losses in SPY since 2000 is only 6%.

You forgot the dividends. Go argue with Bloomberg. – Garth

#50 Vital Code on 11.26.21 at 4:04 pm

#15 Dolce Vita

Pfff. By the time they do the math on B.1.1529, this virus would have moved on to a new version and variant that we’ll know about, but we’ll be told about 3 months after the fact as usual.

Hope you don’t mind if I quote Einstein? It is his quote, right?

“Insanity is doing the same thing over and over and expecting different results.”

Now, GO GREEN PASS!

#51 Brett in Calgary on 11.26.21 at 4:05 pm

They should have called the new variant ‘automaton’.

#52 Intelligent Grade 12 graduate on 11.26.21 at 4:05 pm

Past performance is not an indicator of future results. Why are you encouraging retail investors to buy at these peak prices? What goes up must come down, including Toronto real estate.

We NEED a GREAT RESET.

I make no encouragement, other than to ignore people like you. – Garth

#53 leebow on 11.26.21 at 4:13 pm

There are bright sides to this.
* We don’t know yet if the mutation is deadlier than Delta and we don’t know how they interact.
* The new mutation was detected before it spread too far. So the system somewhat works and after this will become even better.
* This is the chance for the gov’ts and WHO to redeem themselves and show that they learned from past mistakes.
* Science will definitely learn from this. Apparently, this new strain originates from alpha, not delta and likely to have happened in one immunodeficient host.
* This will push distribution of vaccines in 3rd world countries. South Africa is at 28% currently.
* This should further restrict travel to/from countries with low vaccination rates.
* The vaccine manufacturers will be able to demonstrate how quickly they can make a new vaccine

Couple weeks of profit gone in one day. So what? A few bucks here, a few there. In the end this could actually have a very positive outcome.

#54 twofatcats on 11.26.21 at 4:15 pm

Today’s flipped ‘primary residences’:

https://housesigma.com/web/en/house/mZRW7naRg0PyEBO9/117-MARGERY-Avenue-St-Catharines-L2R6K4-40145966

https://housesigma.com/web/en/house/0A9X3jPe1oLyvgxV/311-Grantham-Ave-St-Catharines-X5432353

https://housesigma.com/web/en/house/XeEn7X6ROXMYrPo8/6387-GRAHAM-Street-Niagara-Falls-40187829

#55 IHCTD9 on 11.26.21 at 4:18 pm

Ken, might I suggest getting rid of the fake fireplace and installing a real wood fuelled one? More heat, bigger fire, authentic experience. Also you’d be carbon and tax neutral – the latter being the best part.

Give it some thought.

#56 uncle dave on 11.26.21 at 4:22 pm

Great read, why are people so eager to hit the panic button when regular readers know to ignore the noise and stay the course.

#57 Dolce Vita on 11.26.21 at 4:24 pm

#31 Vital Code

No details yet about Bryan or the flight and I have been looking. He flew to Milano Malpensa via NYC. So you know, he could have caught it there. In hospital in Milano but they will not say where is the latest I could find – and with good reason. The guy is sick and fans being fans will want to say hello and wish him well.

Italia screens. Even on the train lines you have to run thru temperature sensors and of course present a Green Pass. Also, popular destination points of entry will do a Covid test for free in Italia. How he learned he was infected.

Hopefully they get Bryan tip top right away. Love his music and I love the humility of the man.

Anything breaks here, will let you know Canada.

And ya, he’s a National Treasure FOR SURE.

#58 Dolce Vita on 11.26.21 at 4:39 pm

#50 Vital Code

You know it’s been circulating since the beginning of November. Cases rates started to increase dramatically in those first 2 weeks.

They then decided to sequence it in the last few days.

So ya, the people are always the last to know and those that are most affected.

Mind you, had that been the UK they would have caught it like the day after. They sequence a large amount of tests there. The best is Denmark. They sequence EVERY test done.

If Omicron is bad, it sure did pick a good place to plant roots.

It’s outcompeted Delta in no time at all. Doctor guy plotted the S. African data. Take a look at the RHS of the chart, it’s THAT transmissible:

https://twitter.com/vikkypaedia/status/1464074333488173066

I just hope the vaxes will still work against it.

Hope is the last to die.

#59 yvr_lurker on 11.26.21 at 4:44 pm

This new worrisome issue with a variant that can escape the current vaccine and is highly contagious is precisely what I was concerned about months ago over the summer when people/markets were celebrating the slow decline of the effects of COVID. Unfortunately, we are all vulnerable on this planet to this until the entire world is highly vaccinated (and not just us in western democracies or many countries in Asia).

At least this time, the majority of countries have immediately put in measures to either stop flights to that part of the world or to severely restrict travel with mandatory quarantines etc. When Delta was raging in India in the spring, it took Trudeau and his gang of idiots 6 weeks to cut flights. This time the response was better.

The scientific community will soon know how much of a challenge this variant will be with respect to vaccine escape. I am sure that the scientists at Pfizer, Moderna etc.. can develop some new vaccine to counteract this new one if need be, but then the approval process would have to begin anew.

Indeed I may be jumping the gun on the long-game with this new variant, but it does look potentially worrisome for sure and the world does not want to play whack a mole with
new variants new tweaked vaccines
for the next decade.

My sense would be at this stage to ban ALL international travel anywhere from that part of the world until a more clearer picture emerges. In 1918 new variants arising in other countries would have been very difficult to propagate so easily across the planet. It only underscores that in this age, unless the entire world has a high level of vaccination we are at a high risk of a new nasty variant propagating like a wave across the planet unless some “nodes” in the network are completed cut off for the moment (i.e. complete travel ban… no ands/ifs or exceptions).

#60 It's BLAK FRIDAY - RUN!! on 11.26.21 at 4:53 pm

We’re definitely heading for trouble, but should we….

Run away from the market chaos and upcoming new deadly variant, looming wars, environmental calamity etc…

Or maybe just run towards Best Buy for some great deals….

Decisions…decisions….

#61 OK, Doomer? on 11.26.21 at 4:55 pm

Another day, another COVID variant

*yawn*

#62 Cici on 11.26.21 at 4:58 pm

I’ve been leaving a chunk in GICs, just in case I ever decide to purchase a house in a downturn.

Any better ideas on how to employ that cash without taking sizeable risks? Other than Preferreds (I think I’ve got enough of them)…

#63 Dolce Vita on 11.26.21 at 5:02 pm

#50 Vital Code

Spot the only country that uses and enforces the Green Pass:

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

Take note Canada is not surrounded by neighbors like Austria, Slovenia and Switzerland. France somewhere in between Italia – they use their version of a Green Pass but not as strictly enforced as in Italia.

So there you have it Mr. “GO GREEN PASS!.

Don’t you feel stupid now.

BTW, Dec. 6 Italia is going to a Super Green Pass where the only way you can get it is by being fully vaxd.

No more free rides for procrastinators that were getting a Green Pass via testing. So new chant for you:

“GO SUPER GREEN PASS!”

And I’m all for it. We are getting many tourists from the rest of the EU coming here for safety. We need to make sure they are not going to spread their malaise here.

#64 T-Man on 11.26.21 at 5:11 pm

Nostradamus #35: Good comments. Too big to fail trumps the little people every time. Corporations and their shareholders don’t care about you. I’m would describe them as Godless, but they seem to be Gods unto themselves. Perdue Pharmaceuticals declared bankruptcy, after helping kill thousands. They’ll pay a pittance in compensation, and the Sackler family rides into the sunset with their ill gotten gains. BTW, Statestreet and Blackrock need to be broken into 1000 pieces.

#65 This just in on 11.26.21 at 5:12 pm

Canada releases 50 million pounds from maple syrup reserve amid global shortage

https://nypost.com/2021/11/26/canada-releases-50-million-pounds-from-maple-syrup-stockpile/

#66 Drew on 11.26.21 at 5:21 pm

What are the near-cash securities for B&D? I don’t remember those being in the portfolio distributions you post sometimes

#67 SP on 11.26.21 at 5:27 pm

Why would you be satisfied with negative returns? – Garth

Not even in a part of my portfolio. Therefore, 100% in stock market. D, but not B.

#68 XGRO and chill on 11.26.21 at 5:31 pm

Looks like stocks are about to go back on sale, boys!

#69 Sail Away on 11.26.21 at 5:37 pm

#55 IHCTD9 on 11.26.21 at 4:18 pm

Ken, might I suggest getting rid of the fake fireplace and installing a real wood fuelled one? More heat, bigger fire, authentic experience. Also you’d be carbon and tax neutral – the latter being the best part.

———

Not really on the carbon side. In actuality, it’s essentially the same as fossil fuels: the stored carbon is immediately released. Only real difference is that fossil fuel storage happened a long time ago and is now being liberated faster than if stayed underground.

https://insideclimatenews.org/news/26112019/wood-burning-climate-health-consequences-vermont-forest-energy-plan/

But taxes, yes. And beneficial for that reason alone.

#70 Prince Polo on 11.26.21 at 5:41 pm

Isn’t today, like, Black Friday? Sales galore as far as the eye can see! I scooped up some legit deals on European and Canadian equities!!!

#71 jack on 11.26.21 at 5:44 pm

The problem isn’t the virus, it’s the government overreaction and overreach worldwide up to and including infringement of personal freedoms…. the economy is merely reflecting this.

#72 Quintilian on 11.26.21 at 5:59 pm

Volatility reaffirms that a boring, vanilla ,balanced and diversified portfolio is predicable, and generally safe. The trade off is the diluted returns.

But another, and more important lesson ,and confirmation ,is that people who predict 5 or 6 rate increases ,and the timeline, use the same methodology as those who compose the inserts that go into fortune cookies.

#73 Abc1234 on 11.26.21 at 6:06 pm

As financial markets continue there drop in the coming weeks and months, money will pour into the perceived safe haven of GTA real estate pushing prices higher .

Cmon, before you poopoo all over this , you all know that it will go this way. Tangible “ touchyfeely” way better that the “ ether” or financial markets

#74 Shawn Allen on 11.26.21 at 6:17 pm

Environmentalists Don’t Burn Wood

#55 IHCTD9 on 11.26.21 at 4:18 pm said:

Ken, might I suggest getting rid of the fake fireplace and installing a real wood fuelled one? More heat, bigger fire, authentic experience. Also you’d be carbon and tax neutral – the latter being the best part.

Give it some thought.

*************************
Speaking of burning wood did you say the other day that you burn wood and not fossil fuel?

As far as carbon emissions I believe wood is way worse than natural gas? Burn all the wood you want, but be aware that it is not environmentally friendly to do so. Trees are a carbon sink. When burned they release carbon as far as I know.

#75 Faron on 11.26.21 at 6:36 pm

#45 Sail Away on 11.26.21 at 3:54 pm

#37 Linda on 11.26.21 at 3:35 pm

Following up from earlier: DIX printed high and GEX low so someone was buying. Carl Icahn also, allegedly, loaded up on long dated index calls. Closest recent analogue was March 19th this year. That was followed by choppy trading and then a face ripper until early may netting more than 8% on the S&P.

But, when everyone is BingTFingD… Another analogue is early March, 2020…

#76 T-Man on 11.26.21 at 6:51 pm

Chameleon #46 Mabey, you need to find a blog which doesn’t feature dogs, the people who love them, and financial advice. Try an all inclusive site which features puppies, kittens, baby chickens, and financial advice. And hug a puppy today, you’ll feel better.

#77 crowdedelevatorfartz on 11.26.21 at 6:53 pm

@#35 Nostradamus
“Think about it for a minute, why pay retail when you can buy used for a fraction of the cost. Every mall, and down town main street has at least one, Thrift Shop, Salvation Army Store, Good Will , Mission Store, Re-Store, on and on, all used outlets.”

+++

So if we factor in Six degrees of Separation.
I could donate my used underwear to the Sally Ann.
And someone could buy it as a gift .
Then, theoretically, on Christmas Day….
Ponzie could open the gift and be amazed.
I’ll do my part to save the planet and thwart the evil capitalists…
One pair of used undies at a time.

#78 Stone on 11.26.21 at 6:57 pm

Today was a tough day. Nothing like March 2020 but still, painful. My lovely B&D portfolio did its best but it also succumbed to the losses of the day. Poor thing. Sigh…I salute you. From 22.26% yesterday to 20.25% ytd today. So brave. So stoic. So balanced and diversified.

Life is tough.

#79 Steven Rowlandson on 11.26.21 at 7:06 pm

A 2% GIC would only look good with serious negative inflation other wise it is not good enough.

#80 Stone on 11.26.21 at 7:09 pm

#71 jack on 11.26.21 at 5:44 pm
The problem isn’t the virus, it’s the government overreaction and overreach worldwide up to and including infringement of personal freedoms…. the economy is merely reflecting this.

———

No worries. Could you explain what personal freedoms are being infringed?

I don’t see any. The anti-vax, anti-mask crowd gave up all their personal freedoms when they decided their rights superseded everyone else’s.

The anti-vax, anti-mask crowd are just a small minority of deranged looney tunes. I do enjoy watching the imaginary vise being applied to you and your brethren. More popcorn please.

#81 bellend on 11.26.21 at 7:15 pm

“Did you know-it-all Bay Street people see this one coming?”

Well largely, the answer has to be YES! otherwise why the B&D approach?

As to the certitude of timing, file under “known unknowns” coz there’s another few hiccups coming before I kick it.

#82 Ponzius Pilatus on 11.26.21 at 7:19 pm

Dolce is on his best, or worst, again feeding on bad news like a British Monarchy news hound.

#83 Sail Away on 11.26.21 at 7:26 pm

#75 Faron on 11.26.21 at 6:36 pm

Following up from earlier: DIX printed high and GEX low so someone was buying. Carl Icahn also, allegedly, loaded up on long dated index calls. Closest recent analogue was March 19th this year. That was followed by choppy trading and then a face ripper until early may netting more than 8% on the S&P.

——–

I picked up some SPY and XEG today but not too much; just put some dividends to work. O&G is fickle.

So Icahn is buying index call options? Interesting. Bullish makes sense. Hadn’t heard that and since IEP is one of my positions, will research.

#84 Rock’n’Roll on 11.26.21 at 7:29 pm

#47 Dolce Vita

Wow…this is the SECOND time in a Month Bryan tested positive? So…clearly 2 very different variant breakthrough infections.

I mean…how else? What is going on?

#85 mike from mtl on 11.26.21 at 7:31 pm

#71 jack on 11.26.21 at 5:44 pm
The problem isn’t the virus, it’s the government overreaction and overreach worldwide up to and including infringement of personal freedoms…. the economy is merely reflecting this.
///////////////////////////////////////////////////////////////

+1

Was just waiting for the lockdowns/mandates cue to start as per playbook that winter is starting here. I mean really 20 months into this and we can’t all be this dumb, it will never end. Given the current leaky ‘vaccines’, good chance SarsII is adapting to be more zoonotic and the nature of a shape shifter should face facts..it’s not going anywhere.

More info is required before any forgone conclusions in this case, eventually a vaxx/immunity evader will regularly surface as has been the case for Influenza and Rotaviruses.

Unless we finally get the perfect vaccine as originally promised, what we need a good repeatable treatment.

#86 Vital Code on 11.26.21 at 7:39 pm

#63 Dolce Vita

Super Green Pass?

Does this new super pass give eligible Italians access to all super spreader events?

#87 Ponzius Pilatus on 11.26.21 at 7:43 pm

It’s too early to make any predictions about the new ninja mutant COVID virus.
But we’re almost two years into this pandemic, and we still have learned very little on how to combat it.
Pandemic means it’s worldwide.
So until we have a global approach to fighting it, there will always be a nasty mutant emerging, and throwing the stock markets into a fit.
Until we have this thing under control, there will be no stable economy..
How often have we banned flights from infected countries?
But the little pathogen always finds a way.
It’s like closing the brothel after the you what happend.
I’m glad that I’ve got my third shot, but until we help out the poorer countries, nothing will really change.
Only about 60% of Americans are vaccinated.
Expired vaccines are thrown out.
What’s wrong with that picture.
You decide.

#88 Richard on 11.26.21 at 7:49 pm

GIC George, I have been saving in GICs and RRSPs, RESPs with GICs for 25 years now. I have had GICs and RRSPs with GICs as high as 6.45% and as low as 2.33%. My average GIC rate is on a rolling 5 year basis 3.63% since 1997. The last 14 years since the great financial has not been so bad, I have GICs since 2008 in the 3.49% to 3.75% that mature in 2024 to 2025. Even the last 14 years I have averaged 3.19% which since 2009 my TFSA GIC has averaged 3.056%.

These are all pre compound rates, my GIC compound after compound interest rate is 5.638%. My average savings rate is 36% since since 1997 and average total annual RRSP, TFSA, GIC savings amount is $37,000. t may seem daunting to alot of people but at least $135,000 is RRSP income tax refunds, RESP 20% tax top up since 1997. Since my wife died 18 years ago raising 2 kids and my restaurant to manage with her like the first 6 years, I had to derisk my life and finances. I officially retired this year because of covid at 56 with 2 adult kids in their 20’s very successful lives. I have now $1,367,000, a modest house fully paid, no mortgage, debts worth $600,000.

My modest $47,000 a year is more than enough to live off and still max my TFSAs, GICs by $20,000 and last year business sold left over stuff $25,000 to suppliers which is now my accessible, savings account. In less than 4 years I will get my $800 a month CPP and in 9 years my OAS will be $700 a month so I am getting that extra money and my savings, GICs, RRSPs, TFSAs will be at least $500,000 net of taxes by I am 65 years old. It is all about higher savings rates not high investment rates and being debt free.

#89 Tanny on 11.26.21 at 7:57 pm

If you are relying on a 7% to 10% average rate of return per year before compounding these annual rates of return you are taking too much risk of not having enough or close to enough at retirement.

This is why I am relying on a 3.5% to 4% a year rate of return per year before compounding them . I am easily achieving this by boosting my annual savings rate from 15% to 25%, reinvest all my RRSP refunds from my tax returns each year and maximize all my RRSP, TFSA each year plus paying of my mortgage by a 6% annual prepayment to principal allowed each year.

#90 Elon Fanboy on 11.26.21 at 8:03 pm

One potential good take I’ve seen on this new variant.

All cases so far have been reported as ‘mild’. If it’s less deadly than Delta but just way more infectious…..then this might just be the end of the pandemic.

It becomes the dominant strain eradicating Delta.

This is how all pandemics end.

We’ll know in a couple of weeks.

#91 Jake on 11.26.21 at 8:08 pm

#5 Billy Buoy

“What a frwkin coincidence the new variant was announced today. It’s all fixed by the biiiig club of 1%ers.”

Not into conspiracies (9/11, Kennedy assassination) but the timing of this certainly smells like a co-ordinated move. Nothing lately was knocking the market off it’s heels…. Evergrande, inflation, 10 yr treasury curve… so let’s go back to covid.

We didn’t disintegrate without vaccines in 2020, we’re not about to go down now. Bring on the fear, melt the markets so the rich get richer.

#92 THE DANDADA on 11.26.21 at 8:12 pm

GARTH said the B-Word.

I’m about to fall over. Well checkout the 10 year chart:

https://www.lookintobitcoin.com/charts/bitcoin-logarithmic-growth-curve/

No end in site, just a few hiccups along the way like all markets.

#93 Linda on 11.26.21 at 8:13 pm

#62 ‘Cici’ – if you are under 40 you might want to check out that new FHSA the Liberals have been touting. Alternatively stuff a TFSA with actual dividend or other growth related assets & get those putative house $ working overtime. If for no other reason than to prevent your $ eroding in the GIC low interest environment. Got to believe this new tax free vehicle won’t be around forever so if you’ve cash available & qualify to set one of these puppies up, Merry Christmas & many happy returns to you!

#94 Wrk.dover on 11.26.21 at 8:46 pm

#74 Shawn Allen on 11.26.21 at 6:17 pm
Environmentalists Don’t Burn Wood
___________________________

So, if a dead tree is rotting in the back forty, and I burn half of it now, twenty years from now how much carbon is still stored in the other half?

#95 Wrk.dover on 11.26.21 at 9:05 pm

#48 the Jaguar on 11.26.21 at 4:03 pm
#128 Sail Away on 11.26.21 at 11:40 am
#117 the Jaguar on 11.26.21 at 10:28 am
…quality trumps quantity. That what is essential is invisible to the eye. Other uses are made once the peeps digest the existence of availability on limit. New car (bad idea)
Hmmm… I will always favour the new car. If there is one item critical to most people, it is their car.
It’s not the purchase of the car, but the amortization of debt related to the purchase over such a long period of time. Depreciating asset.
___________________________

There was plenty of arguing commentary here about my new car purchase theory a dozen years ago. The car was bought twenty years ago this week, with cash pre saved at a thousand/mo for 23 months. Credit card points payed the sales tax. Declining the available zero interest plan knocked $1800 off the sticker price as per law.

Beat ’em down another $2900, for the fun of it.

The purchase has averaged $3.14/ day thus far.

Eight point six seven cents per mile.

Can you 5%’rs afford to tie up some money in a car for a couple decades and forgo investing that amount yet?

#96 Wrk.dover on 11.26.21 at 9:14 pm

edit/ per kilometer

#97 Ponzius Pilatus on 11.26.21 at 9:18 pm

#91 Jake

Not into conspiracies (9/11, Kennedy assassination) but the timing of this certainly smells like a co-ordinated move. Nothing lately was knocking the market off it’s heels…. Evergrande, inflation, 10 yr treasury curve… so let’s go back to covid.
————
Not into conspiracies either, but I smell a co-ordinated move, too.
In my opinion, an operation of this magnitude could only be executed by Dr. Evil Sailo and his MiniMe CEF.
I hear Inspector Clouseau is on the case.

#98 IHCTD9 on 11.26.21 at 9:49 pm

#74 Shawn Allen on 11.26.21 at 6:17 pm
Environmentalists Don’t Burn Wood

#55 IHCTD9 on 11.26.21 at 4:18 pm said:

Ken, might I suggest getting rid of the fake fireplace and installing a real wood fuelled one? More heat, bigger fire, authentic experience. Also you’d be carbon and tax neutral – the latter being the best part.

Give it some thought.

*************************
Speaking of burning wood did you say the other day that you burn wood and not fossil fuel?

As far as carbon emissions I believe wood is way worse than natural gas? Burn all the wood you want, but be aware that it is not environmentally friendly to do so. Trees are a carbon sink. When burned they release carbon as far as I know.
——— – –

When you burn wood, you expel only the carbon the tree absorbed from the environment while it lived. If you let the tree live a full life and die a natural death, 99% of the carbon absorbed is still released back into the environment as a product of organic decomposition. Trees are part of the active carbon cycle, so reducing them to ash in a wood stove is carbon neutral. If you dig a deep hole and bury the ash, then burning wood becomes carbon negative because you are taking more c02 out of the system than natural forces otherwise would.

Burning fossil fuels re-introduces long sequestered carbon back into the environment. These carbon molecules were not part of the active carbon cycle, but since they have been mined or drilled back up – and burned, carbon molecules that died out of the active system millions of years ago are then put back into circulation.

You are still correct on other pollutants though. Inefficient wood burners do pump particulates, and other junk into the atmosphere. That’s why outdoor wood boilers are being legislated into oblivion. Too many hours idling and pumping carbon monoxide and other garbage into the air. NG and LPG do burn super clean, the only real downside with them is that you are reintroducing ages old dead C02 back into the system, and this is what is increasing our PPM counts.

#99 Doug t on 11.26.21 at 10:22 pm

What if Jen stays the course and rebalances but dies of the new variant lol

Not funny. – Garth

#100 IHCTD9 on 11.26.21 at 10:38 pm

#69 Sail Away on 11.26.21 at 5:37 pm
#55 IHCTD9 on 11.26.21 at 4:18 pm

Ken, might I suggest getting rid of the fake fireplace and installing a real wood fuelled one? More heat, bigger fire, authentic experience. Also you’d be carbon and tax neutral – the latter being the best part.

———

Not really on the carbon side. In actuality, it’s essentially the same as fossil fuels: the stored carbon is immediately released. Only real difference is that fossil fuel storage happened a long time ago and is now being liberated faster than if stayed underground.

https://insideclimatenews.org/news/26112019/wood-burning-climate-health-consequences-vermont-forest-energy-plan/

But taxes, yes. And beneficial for that reason alone.
— –

Yep you are right. But the big difference is that the wood burning releases only the carbon living within the active cycle which was predestined to mostly go right back in no matter what, vs. fossil fuels that reintroduces carbon long removed from the active cycle back into the system. Sequestering carbon via natural processes takes millions of years, and once they’re 100 feet underground, they’re out of the cycle until a volcano (or a drill rig) brings them back up to the surface.

But let’s be clear, I’m burning wood for economic reasons, and it is purely incidental that it’s also good for the planet if done right. Hell, it’s purely incidental that I even know anything about the carbon cycle which I learned (ironically) through interest in how crude Oil is formed.

I think the kids should be learning about the carbon cycle in school these days. No one is going back to the 1700’s, but a good understanding of how a carbon atom “dies” might do some good if millions/billions of people understand it. Carbon is amazing too, much more interesting than algebra.

#101 Rock'n'Roll on 11.26.21 at 10:45 pm

You know Dolce, one can’t stop but wonder if this Eric Clapton story has any impact on that other national treasure of ours who’s not named Bryan Adams. The one and only Celine Dion.

Celine surely saw what honesty about his health situation got Eric Clapton, and if she is in a similar boat figured silence is the smart play since even the one who probably belongs on Rock’n’Roll’s Mt. Rushmore takes a crazy beating for being honest she shouldn’t risk it. You could see the headlines already…something about career as big as Titanic, sinking after hitting the symbolic iceberg because of ‘influence’. Someone on here said – there is rarely money in the truth, but truth sure as heck can be very expensive.

Hopefully I’m completely wrong about Celine Dion and she is on the way to 100%, but make no mistakes about it, honesty and truth are surely casualties after what we’ve seen with Clapton. How is that good for us?

I just looked at Clapton’s Discography. WOW. Time to spin some Cream and Clapton this weekend for sure.

#102 45north on 11.26.21 at 10:59 pm

PBrasseur Recession is coming, big one and global, China will crash, bringing down commodities with it, debt overwhelmed Canada is in for a world of trouble.
Just a matter of time, but crazy money printing, inflation and labour shortages got to be solved somehow, recession is how. Many businesses will close, permanently, finding a job won’t be so easy when all this is done.

the bubble is about to burst. Covid has been mostly painless. Government has poured money out the door but it’s now obvious that the consequence is inflation.

Steve Saretsky: What Schembri really meant but can’t say publicly is “We have a massive debt burden that will trigger a deflationary bust if we normalize interest rates, so what we’re trying to do is let inflation run hot while keeping interest rates suppressed for a prolonged period of time in order to lower the debt to GDP ratio. We’re doing our best to make sure interest rates do not reflect current inflationary conditions.”

Saretsky shows a chart “Residential home sales in Canada by year”. There have been more home sales in 2021 than in other year from 1980 to 2020. Way more. The chart is going to show the bubble and the burst.

#103 Sail Away on 11.27.21 at 12:55 am

#100 IHCTD9 on 11.26.21 at 10:38 pm

Re: carbon

——–

Yes, it is all a mixing, roiling, reuseable sequence. Conservation of matter and all. Sometimes more here, sometimes there, break apart some molecules one place and recombine elsewhere.

No more, no less than 5 billion years ago, just shaken and stirred.

The earth itself is absolutely indifferent.

#104 canuck on 11.27.21 at 12:59 am

Attention freaked out lemmings, the next release of the COVID variant is scheduled for Christmas Eve, 10am GMT.
Your panic filled response fueled by anxiety and blind belief of the media is expected and appreciated. Critical and common sense thinking will not be tolerated…

That is all.

#105 Ronaldo on 11.27.21 at 1:23 am

Another buying opportunity. Up at 6:30 topping up the portfolio. A nothing burger. Portfolio down .83% from previous day but up .78% for the month. Balanced and diversified all the way. 70/30.

#106 Dharma Bum on 11.27.21 at 7:17 am

If the virus makes a comeback, expect house prices to go up another 30%.
What’s not to like?

#107 crowdedelevatorfartz on 11.27.21 at 7:55 am

@#101 RockinRolla

yeah yeah Clapton’s a guitar god….. warts and all.

https://www.rollingstone.com/music/music-features/eric-clapton-vaccine-lockdown-racist-comments-1239027/

#108 RichardTO on 11.27.21 at 9:59 am

Oh look! It’s absolutely nothing…

Another “variant” that’s genetically less than 1% different from the previous chromosome.

The interesting thing about viral evolution is they always become more efficient by being more contagious, but less lethal to their hosts. So this will be the mutant that eradicates the already very pathetically weak pandemic.

A pandemic which didn’t even ding 1% of the global population, of the 9 billion squatters here. I was optimistic about SARS in 2003 (15% mortality rate among most age groups), yet just as it came, it vanished. :(

#109 yvr_lurker on 11.27.21 at 1:17 pm

#87 Pandemic means it’s worldwide.
So until we have a global approach to fighting it, there will always be a nasty mutant emerging, and throwing the stock markets into a fit.
Until we have this thing under control, there will be no stable economy..

———
Yup. Couldn’t agree more. In contrast to 1918 where very few people would make long 10 day journeys from India or Africa to North America, variants developing in those countries would not propagate like a wave across the entire planet. Now we are globally connected, and are vulnerable to any COVID variant, or for that matter any new transmissible disease, that emerges from any connected node in the network. So unless we quickly distribute vaccines to all corners of the globe (pro bono if need be), and there is a rapid distribution and uptake by citizens, this whack-a-mole drama has a strong chance of going on and on.