Dig deeper

Before the election three months ago we had word of a $354 billion federal deficit. That compared with a $50 billion hole that Harper dug to get out of the credit crisis. It was staggering.

Nobody cared.

During the campaign all the parties pledged to spend huge amounts the country doesn’t have. Mr. Trudeau promised an extra $78 billion, while the federal debt was surging past $1 trillion.

The people yawned. He was returned.

This week, Monday, two federal cabinet ministers (we now have two for First Nations peoples) announced $40 billion would be handed over for reparations and reform related to Indigenous youth programs.

It was barely news.

The defence ministress has pledged almost $650 million to address a bad, male-oriented culture in the male-dominated armed forces. Meanwhile 19 of the 23 new, over-budget copters our military people rely on don’t fly because they have cracks. But that seems moot.

Now, today, we have an economic statement focused on Omicron (not the economy) but confirming budget deficits will string off over the horizon. At the same time inflation is running hot, the worst in almost three decades, and interest rates in both Canada and the US are set to rise in 2022. Plus we’re not done with the virus yet, and 30 million people will be needing boosters. So another $30 billion is being spent on that plus more pandemic pogey.

The government argues Canada has the fiscal capacity to keep gushing cash. Chrsytia Freeland plans $100 billion more in permanent spending by 2026. The independent Parliamentary Budget Officer says we will have deficits until 2070. The interest charges on that will be $3.8 trillion. Federal and provincial debt combined equally 65% of the economy before the pandemic. Now it’s 100%.

By the way, when T2 took over in 2015 the federal debt itself was $612 billion. It’s now approaching $1.4 trillion, or $1,400 billion. Do the math. An increase of 128% under one prime minister. Canada has racked up more borrowing under this leader than under all the leaders we’ve had in 154 years – when we also fought two financially crippling world wars.

The new annual deficit is expected to be at least $144 billion. Now, what happens if – as all the heavyweight economists predict – the Bank of Canada raises interest rates six to eight times over the next 24 months? Most of Trudeau’s trillion has been borrowed when the cost of money was at an historic low ebb. This may never happen again, especially as inflation gathers momentum. Debt servicing costs will be the hammer that pummels your children, and their children, in the decades after Justin Trudeau is gone.

Well, this was not the story you heard in the Freeland economic update on Monday. “We are back on track,” she said, proudly. “Our government will continue to be a prudent and cautious fiscal manager.”

We’re in a time when the majority of Canadians – myopic financial illiterates believing nations create money so we can spend all we wish – want more government. More spending – today for students and artists. More social justice, equality, diversity, apologies, social programs, subsidies and support. Yes, there will be more deficit financing to support this. That equals fiscal stimulus, which begets extra inflation. There will also be higher taxes. You’d best prepare, as this blog has suggested lately.

Ninety minutes before she was to drop her update in Parliament, the finance minister announced she’d be doing it virtually. Two of her staffers tested positive for Covid. She did not want to risk being around people. The virus won.

Good thing she’s not a front-line worker. We need those folks.

About the photo: “Here’s Denver, our 11-year-old rescue border collie,” writes Medic Mike from BC.  “If he could talk he’d say “listen to Garth”.  All the best! (I was aka the Sako thread from a few years back.)”

165 comments ↓

#1 BB on 12.14.21 at 4:41 pm

One of the few voices of reason. Every homeowner is having a laugh and looking at their equity. They simply do not have reason to care, well at least not yet…

#2 Caffeine Monkey on 12.14.21 at 4:44 pm

It seems that the feds have adopted Modern Monetary Theory without actually saying it out loud.

#3 Slim Pickens on 12.14.21 at 4:44 pm

YeeHaw lets ride this atomic bomb until it….well you know.

#4 erik mtl on 12.14.21 at 4:44 pm

What are the chances that Canada defaults on it’s debt in near or medium term future?

#5 Dogman01 on 12.14.21 at 4:47 pm

#104 Linda on 12.14.21 at 11:09 am

Even without accommodation insofar as I can make out ‘true’ inflation is running between 6 to 8 percent, not the picayune figures our government is posting to the general disbelief of the public. Add in accommodation & I’d say the true inflation number is in the double digits.

————————————————-

“pic·a·yune” – I come for financial advice and simultaneously my vocabulary is expanded.

As you illustrate, our Media and Government establishment is obviously lying to us.
They are so confident in the Yoke they foisted on us that the are not even wary of lying to us.

I am not confident that Interest rates are going to rise, I think it is also a lie.

————————————-

#101 Quintilian on 12.14.21 at 9:47 am

And it’s all too obvious that the BOC has failed to fulfil its mandate, because of its collusion with the governing party.
What it not so obvious is that the Conservatives have been an accessory to the crime against the economy and savers.

———————————————-

When I was young and naive I used to believe that I was a Citizen participating in a democracy where the Governed were respected by the System. But now with more experience I realize our Establishment holds us in utter contempt.

#6 renter in Surrey on 12.14.21 at 4:48 pm

Yeah, I am so old I remember brand new detached house in LM for $500K, good times. It’s now $1.5mil+
You can’t get even a decent TH for $500K now.

#7 Dave on 12.14.21 at 4:51 pm

That’s what happens when these woke wankers are elected…

#8 Linda on 12.14.21 at 4:54 pm

Now Garth, JT & crew have this all figured out. ‘The budget will balance itself’. So why worry? This is the land of unicorns & fairy dust for all.

Meanwhile in Alberta Jason Kenney is contemplating relaxation of pandemic restrictions for Christmas. Ah, the wonderful optimism of the Utterly Clueless Party leader. Each time those restrictions have been lifted another wave of infections occurs shortly thereafter. When an action/result occurs, the only way to test whether it truly is valid is to repeat it (hello, Best Summer Ever). The 5th Wave of the virus will probably arrive the first week of January 2022. Merry Christmas to the people!

#9 TurnerNation on 12.14.21 at 4:55 pm

War on Small Business Continues – Kingston ON. The 4th Wave of bankruptcies is coming. Will 2022 be the Year of the UBI?

https://www.kflaph.ca/Modules/News/index.aspx?newsId=e0539ecf-126a-4fd3-9c8c-d773a71698da
“Also, all businesses that serve food and offer seating associated with their food establishment shall:
Be closed to the public for indoor dining from 10 p.m. to 5:00 a.m. Pick up and take out is permitted.
Not sell or serve alcohol except between 12:00 p.m. and 9:00 p.m. No consumption of alcohol is permitted in the business or place between the hours of 10:00 p.m. to 12:00 p.m. Ensure all patrons are seated when served. Pick up and take out is exempt from this requirement.
Seat no more than four (4) persons to a table.
Not allow dancing, singing, or live performances of music. Volume of music is low enough to allow for normal conversation.”


— The hospitals are overwhelmed. These links cover 7 (seven) large downtown Toronto hospitals.
There is a grand total of 3 (three) people in ICU due to Covid.

https://www.uhn.ca/Covid19#
https://www.sinaihealth.ca/covid19/
https://unityhealth.to/patients-and-visitors/covid-19/#covid-19-cases-at-unity-health-toronto-block_60070e3f12217

— Life in Kanada. As here noted in 2020 EVERY system designed to help us has been turned against us. They are not even hiding it.

https://ottawacitizen.com/news/national/defence-watch/military-leaders-saw-pandemic-as-unique-opportunity-to-test-propaganda-techniques-on-canadians-forces-report-says
“Military leaders saw pandemic as unique opportunity to test propaganda techniques on Canadians, Forces report says”

— Life not in Kanada. Texas. See their picture.

https://twitter.com/Here4thekids/status/1470757507404607492
“My Canadian friend in Texas, living life, no mask mandates, no cases at the high school, kids actively engaged in activities regardless of vax status. It’s over there. Why not here?”

#10 uncle dave on 12.14.21 at 4:56 pm

Garth what is your take on Pierre Poilievre, have see a couple of clips lately where he’s asking the finance guys and girl of the country straight forward questions without getting an answer or its crickets?

#11 Triplenet on 12.14.21 at 4:56 pm

Accordingly, all future tax increases will be transitory.
…… I suppose.

#12 Old gringo on 12.14.21 at 4:57 pm

This budget, in any sane country, would be political suicidal.
For some unknown reason it is accepted here in Canada as normal.
Think about this!!
Fifty years to repay only if interest rates stay low.
Eternity if they raise.
And he got voted in again.
I just don’t get it.
And “ god forbid “ that Trump the clown gets re- elected again.
This does not leave any room for optimism.
As Garth says, it’s going to end badly!!

#13 Pet Sounds on 12.14.21 at 4:57 pm

What a bunch of buffoons running the place.

#14 Davedorf on 12.14.21 at 4:58 pm

It’s difficult to reconcile your disdain at the state of public finances with your vitriol towards the PPC – the only party looking to balance the budget.

#15 Squire on 12.14.21 at 5:01 pm

LOL Garth, we are so pooched. What shall become of Canada ? Perhaps a bunch of new states.

#16 Predictions on 12.14.21 at 5:03 pm

Predictions 2024
T2 will have fled to an international stage
Freeloan will be the prime minister
Ford runs for Federal seat
Mortgages will return to 40-year amortizations
Free daycare….
Inheritance Tax
Increased Corporate taxes
Professionals fleeing to USA due to taxes
Canadian dollar at 60 cents US
Apologies to everyone for everything
Garth writes “The Great Canadian Apocalypse”

#17 Mattl on 12.14.21 at 5:03 pm

And she hadn’t had any contact with the two staffers ffs. No accountability, whatsoever.

The one thing that give me comfort is how truly brutal Trudeau’s legacy will be. He has no idea.

#18 cuke and tomato picker on 12.14.21 at 5:04 pm

Yes those with a home in a sought after location are
having a chuckle and those working from 5am to 10pm
7 days a week will also be just fine. There are the BEST
then there are rest and the best don’t REST.

#19 Chameleon on 12.14.21 at 5:04 pm

#27 Faron on 12.13.21 at 5:13 pm
Garth is just softening everyone up for the big reveal that he and Dorothy are now proud parents of a hairless cat named Sprinklekins.

Sprinklekins eats an organic, chakra cleansing diet of free-range, ethically raised mice with just a touch of pink Himalayan sea salt for energy flow and all-around good vibes.

Sprinklekins rides in a baby bjorn or, when under zhe’s own power, is tethered by a rhinestone encrusted hemp leash.

Sprinklekins has the unique distinction of being both an emotional support mammal and a spirit animal!

>>>>Sprinklekins is currently wearing an elf-hat befitting the season.<<<<

I shall see myself out now.

——-

See what you've done?

We're still at shock and denial, and so instead of Sprinklekins in an elf-hat befitting the season…we're back to some Mutt in a Hat.

On another note, did you guys play the Meow Mix song as the fiscal update was being revealed?

Meow meow spend spend meow meow tax tax meow meow you don't get to spend too much Chrsytia because meow meow I, Justin spends the big buck and you're not going to out do me….ow meow.

#20 Prince Polo on 12.14.21 at 5:04 pm

How much fiscal destruction of a nation needs to occur before its own citizens wake up? What a depressing blog post….at least I have non-beaver bucks in my mattress!

#21 Crystal Freeham on 12.14.21 at 5:11 pm

Garth:

U mad, bro?

#22 Ian on 12.14.21 at 5:11 pm

2070!!! How financially illiterate is the electorate? Something still has to give, that date projection assumes no future shocks, wars, climate change or a return of the willy mammoth…. I’m a millenial and I can say with certainty something else will happen, dunno what, probably a blip on growth long term like COVID but something will shock the system. Our CBs won’t be able to keep solving further crisis with QE and interest rates. They are already so low.

#23 Cici on 12.14.21 at 5:18 pm

Hey Garth,

Still believe they don’t have a dual mandate? Yesterday they mentioned “maximum employment” three times and also made reference to “inclusion”. A few minutes later we had $40B going to some 55,000 children who attended residential schools after 1990 until the present. If I understand correctly, presence was optional as of 1997, and probably only a small minority were ever subject to abuse?

And today, oh boy… do you still believe we’ll ever get interest rate hikes? Well, today we’ve got Omicron to save the day… what will be the next great accident that gives them excuses to spend and inflate?

#24 I'mshort_corpdebt on 12.14.21 at 5:19 pm

No worries Garth, under this plandemic, in the not too distant future, Canada will be forced to follow something similar to the Maastricht Criteria. And just like that the nations’ debts will be cancelled or forgiven as the new world currency will be in effect.
Not sure what that will mean for your 60/40 portfolio but as most Europeans have learned is that their standards of living did not necessarily improve much but their social bond did.

#25 Well Travelled on 12.14.21 at 5:23 pm

Clearly T2 and the Libs have figured out the magic formula – give out lots to Canadians, present simple platitudes to reassure people and get re-elected.

#26 Soviet Capitalist on 12.14.21 at 5:24 pm

Trudeau knows all this too. Part of me wonders why would he give a green light to BCs mandate on inflation at 2% target then?

I can only see 2 possible answers:
1. He knows something we don’t and CAD devaluation will remain low despite crazy inflation.
2. BCs mandate will be ‘flexible’ and a lot of creativity in calculating CPI, combined with (now we target 3%, no 4%, no whatever) will achieve some semblance of both BC and Trudeau saving face

Which of the 2 options is more likely?

#27 AM in MN on 12.14.21 at 5:25 pm

It’s called a debt death spiral, when you need to keep printing more and more money to pay the interest from the previous borrowing.

Many a South American nation has experience with this.

Hard to see how they don’t ultimately come for your home equity as a last resort.

Those who think the “rich” should pay more will find themselves wondering where all the rich people went. Most don’t understand how much easier it is in these days of internet communications to live in Canada and do business and keep your wealth elsewhere.

You voted for it…

#28 TurnerNation on 12.14.21 at 5:26 pm

— Christmas travel? Fuggetabout it. We have Fresh new CV rules upon RULES – for Chaos and Health.

“”The Globe and Mail reports in its Tuesday edition that confusion is now the defining state for many Canadians considering travel this month amid shifting advice, COVID-19 variants and layers of testing and quarantine rules. A Canadian Press dispatch to The Globe says that the prospect of flying abroad is “incredibly confusing” as passengers remain uncertain about whether they will be tested at airports upon return or forced to quarantine — on top of what measures other countries might impose — said Marty Firestone, president of insurer Travel Secure. Many are now rerouting trips or cancelling altogether out of exasperation. “We’re just in a disarray, there’s no other simple way to put it,” Mr. Firestone said” (stockwatch.com)



World:

Netherlands – another Former First World country. Pages and pages of New CV rules and curfews – to close small business. Just in time for Christmas See ya in 2025.

https://nltimes.nl/2021/12/14/full-list-dutch-coronavirus-restrictions-december-14

— ALL The old ways and culture must go. CV Rules are Life. Oh thank you Master! For your benevolence at Christmastime. May we have another?

https://edmontonsun.com/news/local-news/potential-relaxation-of-some-covid-19-rules-and-more-rapid-tests-coming-tuesday-kenney/wcm/2e5e2fc7-ad7a-467e-a562-35005ea8588b
“Kenney said his personal Christmas plans wouldn’t be possible under the current plans which limit gatherings to 10 people from two families if everyone is vaccinated.”

#29 Grandv!ew on 12.14.21 at 5:29 pm

This is how people feel about life in Canada……

Since the last election, I’ve more or less given up. Homelessness, opioid addiction, money laundering, record home price increases-indebting whole generations, record immigration, record housing shortage, record bank profits, record deficit, record virtue signalling. We’re broken

https://twitter.com/loveurhome/status/1468904693153898501

Canada’s fertility rate has been steadily declining since 2008, with 2020 marking a record low in births. The cost of living crisis is morphing into a demographic crisis.

https://twitter.com/SteveSaretsky/status/1466815362557566978

Since 2008 most of the West has moved into a political economy where the overarching concern is to create economic conditions that protect whichever government is in power.

https://twitter.com/RobertAFinlay/status/1470440765809573888

Politics are simply a function of economics. Given how broken our economy/financial system is, it’s safe to say politics are going to be very extreme in the coming years.

https://twitter.com/SteveSaretsky/status/1464758861013815296

Garth

“Debt servicing costs will be the hammer that pummels your children, and their children, in the decades after Justin Trudeau is gone”.

It pretty much sums up the bleak reality of life in Canada under T2.

#30 AntMan on 12.14.21 at 5:33 pm

Nobody cared -G
Why would you expect anything else from a culture hellbent on self destruction.

#31 ElGatoNerodeYVR on 12.14.21 at 5:33 pm

While I dislike debt financing same as any other blog person I think this pandemic can be equated to a wWorld War in terms of impact and world wide governmental approach.
Let’s not forgot that every other nation had a similar approach.
The issue is that arguably the response should be done by now and we should focus on building a sustainable economy and defense not spend like drunken sailors on touchy-feely stuff everything we make and more.
Sure allocate some for touchy-feely and historical reparations but primary should be infrastructure, economy in general and defense.

#32 Do we have all the facts on 12.14.21 at 5:38 pm

Hear Hear!!

With the exception of a childcare program that will increase the supply of essential labour the Liberal Party all but ignored the importance of stimulating economic growth. The message delivered was that everything is back on track and there is no need to worry.

I expected a touch of Pollyanna but the address by Chrystia was over the top. Projected GDP growth will not generate the revenues necessary to cover projected increases in government expenditures and certainly will not cover projected increases in debt servicing costs. Basing future projections on historically low interest rates is disingenuous if not dishonest. Ignoring the impact of inflation on projected government revenues is just plain infuriating.

Based on today’s update the PBO’s projection of continued deficits through 2070 seems extremely optimistic.

#33 jimmy zhao on 12.14.21 at 5:39 pm

I hope that $40billion is spent wisely.

If I had access to that kind of money, I could build 200 water treatment plants at a cost of $200 Million each.

#34 Sara on 12.14.21 at 5:42 pm

#9 TurnerNation on 12.14.21 at 4:55 pm
War on Small Business Continues – Kingston ON. The 4th Wave of bankruptcies is coming. Will 2022 be the Year of the UBI?

https://www.kflaph.ca/Modules/News/index.aspx?newsId=e0539ecf-126a-4fd3-9c8c-d773a71698da
“Also, all businesses that serve food and offer seating associated with their food establishment shall:
Be closed to the public for indoor dining from 10 p.m. to 5:00 a.m. Pick up and take out is permitted.
Not sell or serve alcohol except between 12:00 p.m. and 9:00 p.m. No consumption of alcohol is permitted in the business or place between the hours of 10:00 p.m. to 12:00 p.m. Ensure all patrons are seated when served. Pick up and take out is exempt from this requirement.
Seat no more than four (4) persons to a table.
Not allow dancing, singing, or live performances of music. Volume of music is low enough to allow for normal conversation.”


— The hospitals are overwhelmed. These links cover 7 (seven) large downtown Toronto hospitals.
There is a grand total of 3 (three) people in ICU due to Covid.

https://www.uhn.ca/Covid19#
https://www.sinaihealth.ca/covid19/
https://unityhealth.to/patients-and-visitors/covid-19/#covid-19-cases-at-unity-health-toronto-block_60070e3f12217

— Life in Kanada. As here noted in 2020 EVERY system designed to help us has been turned against us. They are not even hiding it.

https://ottawacitizen.com/news/national/defence-watch/military-leaders-saw-pandemic-as-unique-opportunity-to-test-propaganda-techniques-on-canadians-forces-report-says
“Military leaders saw pandemic as unique opportunity to test propaganda techniques on Canadians, Forces report says”

— Life not in Kanada. Texas. See their picture.

https://twitter.com/Here4thekids/status/1470757507404607492
“My Canadian friend in Texas, living life, no mask mandates, no cases at the high school, kids actively engaged in activities regardless of vax status. It’s over there. Why not here?”

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

First come high numbers of case counts, then a few weeks later come high numbers of hospitalizations. Kingston case counts are alarmingly high and getting exponentially higher. It makes sense to enact measures now, not later. For some reason, many people have a hard time understanding the impact of exponential spread.

And who the heck would use Texas as an example of a state to emulate? DeathSantis is going out of his way to ensure that counties and schools DO NOT LEGALLY HAVE THE FREEDOM to do determine their own COVID-19 safety measures – sad and rather hypocritical for supposed FREEDOM FIGHTERS.

#35 hwy_str on 12.14.21 at 5:44 pm

Where did all those billions go? Did we start living better? I only felt my paycheque buying less. Never got any benefit. Guess I am too rich for government money and too poor to have any of those billions in my pocket. Sucks to be middle class.

#36 Leichendiener on 12.14.21 at 5:47 pm

“We’re in a time when the majority of Canadians – myopic financial illiterates believing nations create money so we can spend all we wish – want more government. More spending – today for students and artists. More social justice, equality, diversity, apologies, social programs, subsidies and support. Yes, there will be more deficit financing to support this. That equals fiscal stimulus, which begets extra inflation. There will also be higher taxes.”

Certainly worth repeating and very bleak.

#37 Grand Imperial Wizard of Canada's Pending Bankruptcy on 12.14.21 at 5:50 pm

This group in Ottawa is obviously the biggest clown show we’ve ever had. With regard to the helicopters and actually ships (for all purposes) plus fighter jets there is tons of blame to go around between both parties that have held power. The Americans use Blackhawks and their various variants for the military, coast guard and all kinds of things, very successfully. Long flights over water rescues, bad weather. Why the hell didn’t we look at that and just buy them years ago?
Fifty million for ports, why not spend some of that money on making some things here again? Sure we don’t have the cheap labour but there are things we could do and would make a lot of sense to keep going within our borders and not depend on other countries for. We use to make vaccines and were even a leader in some medical fields until it was all sold off. Thanks Mulroney.

#38 crowdedelevatorfartz on 12.14.21 at 5:52 pm

My my my.
The Virus seems to have allowed the Liberals to spew out their version of a fiscal fandango “free for all” in “virtual world” an awful lot.

Avoiding the hard questions from media types as they scurry from the stage?
Eventually this larger and larger financial carousel will spin off it’s taxpayer supported base and careen into a self destructing fiscal disaster of epic proportions.

And all the financial illiterates that “couldn’t be bothered to vote” will stand , slack jawed, staring at their dwindling pay cheques …. wondering what the hell happened.

#39 cramar on 12.14.21 at 5:54 pm

“Our government will continue to be a prudent and cautious fiscal manager.”
– Chrsytia Freeland

Continue? CONTINUE??

Talk about Orwellian double speak!

I wish some interviewer would have the guts to ask her, “Look at these insane deficit and spending numbers! Exactly how do you define a government as being irresponsible and wasteful in their finances?”

#40 Dolce Vita on 12.14.21 at 6:06 pm

2 years.

Lost.

Today Garth and Commenter dirge.

Canada.

Her people.

Resilient. Bitchy. Strong. Plucky. Industrious.

I like that a WHOLE LOT.

It WILL get better Canada as it always has and it ALWAYS will. *

—————

* Of course, if it’s indeed our evolutionary cul-de-sac time fellow humans, well…in the words of the Ancient Egyptian Mortician:

“That just about wraps it folks”.

And from the Electrician:

“It’s been a splice.”

#41 AM in MN on 12.14.21 at 6:11 pm

For those who have wondered why there is this lingering western alienation, try to look forward a few more years with all of the currency destruction and wealth confiscation and ask if it will get better or worse?

Canada is a very unique country in the world in that it has essentially 5 regional blocks that each do more business with the US than with any of the other regional blocks.

The economic ties run north-south, not east west.

The common history and emotional bonds only run so deep.

#42 Rook on 12.14.21 at 6:11 pm

Serious question, Garth. Is there any sort of historical pecedent we can look to to get a good idea how this might play out? Or is this basically unprecedented?

#43 old engineer on 12.14.21 at 6:18 pm

#26 SC

Trudeau knows all this too. Part of me wonders why would he give a green light to BCs mandate on inflation at 2% target then?


It’s a very good question. My guess is that his advisors will say that deflationary forces like aging population, technology disruption and increasing debt are much stronger and more persistent than inflationary forces arising from short term supply/demand issues. So more fiscal or monetary stimulus is needed to avoid natural deflation due to demographics and technology.

#44 Dazed and CONfused on 12.14.21 at 6:19 pm

“….Why are we still fighting certain veterans groups in court? Because they’re asking for more than we are able to give right now,” Trudeau said, answering a question from a veteran….” February 1st, 2018

The ungrateful arrogance of this clueless, out of touch, spoiled, silver spoon brat and his warped sense of priorities makes me gag and grind my teeth every day. I doubt the man(?) has ever balanced a family budget in his entire life.

And to think I initially voted for this guy to give him a chance.

I feel dirty.

#45 HH on 12.14.21 at 6:22 pm

My experience in trying to communicate with Ottawa is they just ignore me. They never ever answer my questions. They don’t care one wit about my opinions or my questions. They want my money and my vote but nothing else. I am helpless to do anything about the awful decisions they make. They care nothing about encouraging growth and attracting investment in Canada. So, I won’t do anything to help their insane politics.

#46 zxcvbnm on 12.14.21 at 6:25 pm

I believe reparations and reform related to Indigenous youth programs is important. Please don’t get me wrong. But is it more important than ICU capacity?

How can they keep harping on ICU capacity and blaming the irresponsibility of unvaxxed Canadians for a medical system perpetually on the brink of collapse, but then turn around and spend like this?

Either reparations for past wrongs are more important than ICU capacity, or ICU capacity isn’t really a problem. Which is it?

#47 Dolce Vita on 12.14.21 at 6:34 pm

2 years.

What have we really accomplished?

Italia Dec. 14, 2020

14,844 new cases
846 deaths

Italia Dec. 14,2021

20,677 new cases
120 deaths

——

Canada Dec. 14, 2020

6,345 new cases
106 deaths

Canada Dec. 14,2021

8,090 new cases
25 deaths

——————

…makes a person wonder.

#48 Garth's Son Drake on 12.14.21 at 6:35 pm

Inspiring news from Bonnie today.

Most BCers will have to wait for the booster – January or February.

That will be around the time the next wave is over.

Omicron is hitting every BC health authority. Buckle up.

And no rapid tests, like the free ones they are giving out in Alberta.

Once again BC is flat footed and putting the entire province at risk because of being broke and bending the knee to budget control. The ironic part is it is going to cost us more in the end and people are going to get sick on top of that. This is a self-feeding loop.

There is a tidal wave coming. This is the worst case scenario that I talked about last year.

This is going to be BRUTAL. Round 5…ding, ding.

#49 Printer is Coming on 12.14.21 at 6:38 pm

Won’t be long now.

Brrrrrrrrrrrr, brrrrrrrrrrrr.

#50 Barb on 12.14.21 at 6:43 pm

Denver’s gorgeous, Mike!
Looks happy too.

Thank goodness we’re back to dogs.

#51 Chalkie on 12.14.21 at 6:50 pm

The numbers that the Trudeau Federal Government owes is so staggering that it’s depressing to read.
I have a lot of sympathy for the generations coming behind us, I would love to be able to come back from heaven, in 50 years or so, just to read the history books on Justin Trudeau and his cabinet.

#52 They Say on 12.14.21 at 6:51 pm

30% are awake. 30% are waking. 30% are asleep thinking mummy has it under control. 10% missing in action.

#53 Yukon Elvis on 12.14.21 at 6:52 pm

Nobody cared.>>>>>>>>we still don’t care.

He was returned.>>>>>>with an increase in electoral seats. We love this guy. And he will still be driving this bus when you and I are pushing up daisies.

The government argues Canada has the fiscal capacity to keep gushing cash. >>>>>>>>> yes they do. Those dirty rotten stinkin’ philthy high income earners and businesses and bankers and investors and savers have too much of it and it needs to be spread around to the also deserving little people who are victims of systemic racism and genocide and non inclusion and bad weather.
Why are you always so negative? I’m gonna pray for you now:
Our Father who art in Heaven, Howard be thy name…………

#54 baloney Sandwitch on 12.14.21 at 7:02 pm

Well, MMT is here, like it or not. We will find out if and how it ends badly. No, Canada cannot default on our debts because the debt will become worthless because of inflation. Of course, we will be taking wheelbarrows of virtual loonies to the grocery store to buy a chicken. or if cannot afford that, then a PEI potato. (Since the yanks won’t buy it).

#55 Sail Away on 12.14.21 at 7:11 pm

Hey, I just hope they open up the taps for more small business subsidy, grants and interest-free loans.

Now’s the time to hoover up as much of this monopoly money as possible and turn it into US greenbacks… before it loses all value.

#56 Taco Devil on 12.14.21 at 7:12 pm

#49 Printer is Coming

Won’t be long now.

Brrrrrrrrrrrr, brrrrrrrrrrrr.

Aren’t printers silent now? They don’t print money on a dot matrix 80s printer.

You have to print quietly after all. You don’t want to wake up the parents.

#57 Dial EcoTV on 12.14.21 at 7:14 pm

#47 Dolce Vita

#58 Jerry on 12.14.21 at 7:15 pm

It seems insane and reckless until you realize that bankrupting the nation to destroy of sovereignty is the point, and it’s completely intentional.

#59 Millennial 1%er on 12.14.21 at 7:19 pm

yikes

#60 Wicked as it seems on 12.14.21 at 7:19 pm

Forty thousand million dollars for indigenous children, are we going to make each a millionaire? For something that happened 100 years ago by the Catholic Church. Scratching head on this one.

#61 Canada needs a good hard landing on 12.14.21 at 7:21 pm

When are we going to finally see a 22% mortgage rate so the debt addicted world can take it in the chin. This is so ridiculous that we have an under 2% 30 year bond rate, currently 1.8%. We need at least a 10.80% 5 year bond rate today to fix this.

#62 Wrk.dover on 12.14.21 at 7:22 pm

Right now my wife is down in the basement crumpling up a stack of twenty dollar bills, to light the woodstove… Canadian money stinks when it’s burning!

#63 Dial EcoTV on 12.14.21 at 7:27 pm

#47 Dolce Vita

Dolce Dolce Dolce….

What nuttiness you tell cherry picking data points. This is not a good way to look at it. Look at it this way.

Since Pandemic started, 3547 people have died in BC, with a average age of 43 years of age. This is about 150,000 potential years of life. A tragedy without any reservations. (reference links to data below)

https://www.cbc.ca/news/canada/british-columbia/bc-toxic-drugs-oct-2021-1.6279018

http://www.bccdc.ca/resource-gallery/Documents/Statistics%20and%20Research/Statistics%20and%20Reports/Overdose/2021.04.16_Infographic_OD%20Dashboard.pdf

Covid by comparison has taken 2386 lives in BC since start to date. According to below link, the median age of BC Covid death is 85, and please note the link reports average BC life expectancy at 82 – not sure why that data is noted right beside the Covid median death age in that official report, but it is there. Older report but likely that the data has held up to date.

http://www.bccdc.ca/health-info/diseases-conditions/covid-19/data

https://www.jccf.ca/wp-content/uploads/2021/04/Covid-Statistics-BC-april-6-2021.pdf

Now, I will be very clear that all deaths are tragic and no one should prioritize one death over another. However, I must say I find the data above very disturbing personally for many reasons, including our leaders response to one health emergency and not the other.

#64 Dolce Vita on 12.14.21 at 7:30 pm

2 years.

Italia Dec. 14, 2019

A search for “Coronavirus” at the Italian Ministry of Health website yields a 1 liner about the name etc. but not many details.

Italia Jan. 31, 2020

First 2 cases…

https://www.rainews.it/dl/rainews/articoli/coronavirus-casi-italia-stop-voli-213-morti-cina-ac2db7e6-de97-4605-b3ec-2489f2b4cee9.html

I remember reading that article and knew then that all hell was about to be unleashed upon Italia and Italia not knowing a thing about “Coronavirus” – I was then following “Doctored” PRC State Media Tweets.

What warning did Italia get?

Italia February 1, 2020

[about China]

“Coronavirus, WHO: possible but rare transmission without symptoms, 2,000 infections in 24 hours”

https://www.repubblica.it/cronaca/2020/02/01/news/coronavirus_dalla_cina_i_contagi_salgono_a_12_mila_259_i_morti-247315157/

ITALIA DID NOT HAVE A CLUE…to wit:

The good old days of social distancing Firenze style, Feb. 5 2020:

“Mayor of Florence Dario Nardella has suggested residents hug Chinese people to encourage them in the fight against the novel coronavirus”

https://www.youtube.com/watch?v=mNMdg4morQs

The guys name in the video (masked, he had common sense unlike his Florentine compatriots):

Massimiliano Martigli Jiang.

——————

Italia Jan. 31, 2020: 2 cases, 0 deaths.

#65 Yukon Elvis on 12.14.21 at 7:30 pm

#33 jimmy zhao on 12.14.21 at 5:39 pm
I hope that $40billion is spent wisely.

If I had access to that kind of money, I could build 200 water treatment plants at a cost of $200 Million each.
++++++++++++++++
Not enough. It is only the beginning. Just watch him.

#66 Cowtown Cowboy on 12.14.21 at 7:32 pm

#8 Linda on 12.14.21 at 4:54 pm

Now Garth, JT & crew have this all figured out. ‘The budget will balance itself’. So why worry? This is the land of unicorns & fairy dust for all.

Meanwhile in Alberta Jason Kenney is contemplating relaxation of pandemic restrictions for Christmas. Ah, the wonderful optimism of the Utterly Clueless Party leader. Each time those restrictions have been lifted another wave of infections occurs shortly thereafter. When an action/result occurs, the only way to test whether it truly is valid is to repeat it (hello, Best Summer Ever). The 5th Wave of the virus will probably arrive the first week of January 2022. Merry Christmas to the people!

———————————————————

Alberta, love it or leave it ya pinko commie

#67 CanadianOne on 12.14.21 at 7:32 pm

I thought the illiteracy was keeping the interest rate low as in artificially low…..

#68 Ponzius Pilatus on 12.14.21 at 7:33 pm

#107 Sail Away on 12.14.21 at 12:12 pm
Anybody familiar with the ‘Universe 25’ mouse utopia experiment by John Calhoun? He ran it 25 times and in all cases, the population self-destructed from social collapse:
https://www.iflscience.com/plants-and-animals/universe-25-the-mouse-utopia-experiment-that-turned-into-an-apocalypse/
—————————-
I see your John Calhoun and raise you Konrad Lorenz.
Konrad Zacharias Lorenz was an Austrian zoologist, ethologist, and ornithologist. He shared the 1973 Nobel Prize in Physiology or Medicine with Nikolaas Tinbergen and Karl von Frisch. He is often regarded as one of the founders of modern ethology, the study of animal behavior.
Quote
All advantages that man has gained from his ever-deepening understanding of the natural world that surrounds him, his technological, chemical and medical progress, all of which should seem to alleviate human suffering… tends instead to favor humanity’s destruction

#69 I Act Loved on 12.14.21 at 7:36 pm

“Plus we’re not done with the virus yet, and 30 million people will be needing boosters. So another $30 billion is being spent on that plus more pandemic pogey.”

Vaccinating is expensive.

Hope it’s worth it.

Hope it makes a difference.

Hope it stops the virus.

Hope it stops it at 70% vax rate. 75% vax rate. 80% vax rate. 90% vax rate. Boosted.

Why is it that every time I type vax it is autocorrected to tax? Is this autocorrect Liberal?

90% tax rate indeed. Coming WAY before 2070.

#70 Ronaldo on 12.14.21 at 7:37 pm

#6 renter in Surrey on 12.14.21 at 4:48 pm
Yeah, I am so old I remember brand new detached house in LM for $500K, good times. It’s now $1.5mil+
You can’t get even a decent TH for $500K now.
—————————————————————–
Heck, I’m so old I can still remember that I paid $21,800 for this place (brand new) almost 52 years ago to the day. I was 23 years old. I borrowed $3000 from my mother for the down payment which I paid back once the deal was completed and went to the bank and borrowed the $3000 to repay her and telling them it was for furniture. At this point I was dead broke so borrowed $500 from my uncle to purchase a fridge and stove and repaid him from the $1000 home owner grant that I received from the province. I was making $8000 per year at the time which was a decent wage and represented 2.6 times my annual income. They did not allow the spouses salary for income purposes at that time. That came in the early 80s recession. So here we were with $500 in the bank but we owned our own home. Today you would need a salary of $289,000 (1 salary) to qualify for this place. Now that is inflation.

https://www.zillow.com/homedetails/933-Old-Lillooet-Rd-North-Vancouver-BC-V7J-2H7/314278069_zpid/

#71 Ponzius Pilatus on 12.14.21 at 7:41 pm

#5 Doggieman
When I was young and naive I used to believe that I was a Citizen participating in a democracy where the Governed were respected by the System. But now with more experience I realize our Establishment holds us in utter contempt.
—————————-
That’s just the way life works.
Been like this forever.

#72 yvr_lurker on 12.14.21 at 7:44 pm

It sort of seems that we are in a situation where no matter what we do, we are metaphorically speaking arranging the deck chairs on the titanic. Heard today that there is a high likelihood that the Universities are all online again (like in 2020) either at the start of next term or soon (a few weeks) thereafter. The next few weeks are critical to see how it goes. As I said in the summer, we may be so done with COVID, but there will be many surprises yet in store for us with variants escaping out of the vaccine envelope. Even if this variant is “milder” in most people than Delta say, the fact that it can zoom through (pardon the pun) both the vaccinated and unvaccinated in large numbers, means that many more will likely get sick and die…. multiply say a larger number 8,000 cases per day times a smaller number 0.005 and you still get 40…..

#73 Ponzius Pilatus on 12.14.21 at 7:52 pm

#38 crowdedelevatorfartz on 12.14.21 at 5:52 pm
My my my.
The Virus seems to have allowed the Liberals to spew out their version of a fiscal fandango “free for all” in “virtual world” an awful lot.

Avoiding the hard questions from media types as they scurry from the stage?
Eventually this larger and larger financial carousel will spin off it’s taxpayer supported base and careen into a self destructing fiscal disaster of epic proportions.

And all the financial illiterates that “couldn’t be bothered to vote” will stand , slack jawed, staring at their dwindling pay cheques …. wondering what the hell happened.
—————————
My,my.
I like the Rex Murphy prose.

#74 Pandemic Is Over on 12.14.21 at 7:55 pm

Plus we’re not done with the virus yet, and 30 million people will be needing boosters. – Garth

Well, there is a subtle difference between actually needing a booster, and being told so by the health authorities…

#75 roger on 12.14.21 at 7:56 pm

By the way, when T2 took over in 2015 the federal debt itself was $612 billion. It’s now approaching $1.4 trillion, or $1,400 billion.

*******

I didn’t vote for Trudeau.

The blame is on those who did.

#76 Quintilian on 12.14.21 at 7:58 pm

Too many posters on this blog are very confused, and have a distorted view of reality.

It’s unlikely that in our lifetime there will be a Conservative government, but if by some freak chance the Cons form government there would be a lot of disillusioned folks here.

It’s about expectations.

You shouldn’t go to a sex worker if you are looking for love.

When the results are disappointing, it will lead to an erroneous conclusion.

The prime objective and the intrinsic value of the politician rests their ability to get elected, not to do what is moral, as it is all too often conflicting with competing objectives of the party.

For different results we would need to upend the political process.

In the meanwhile, better the spendthrift, rather than the evil rednecks.

#77 Dolce Vita on 12.14.21 at 8:03 pm

2 years.

#63 Dial EcoTV

It was a memory lane Comment.

And as for “Don’t count, don’t test and lie” BC, none of your links are believable.

Look nice and all, but not in the least believable.

Your BC Health Ministry got caught fudging numbers months ago. Also, over the past 2 years BC tests at about 50% of the National Average. And Canada overall tests abysmally when compared to UK, Italia, Denmark, etc.

So, loved the Sci-Fi links from BC. Keep telling yourselves that.

#78 crowdedelevatorfartz on 12.14.21 at 8:07 pm

@#60 Unseemly wicked

“Forty thousand million dollars for indigenous children, are we going to make each a millionaire? For something that happened 100 years ago by the Catholic Church. Scratching head on this one.”

++++

Why actually deal with a problem when you can just throw buckets of (other peoples’) money at it……. and it won’t “fix” anything.

I Woke-sters enjoy paying taxes.

#79 Dolce Vita on 12.14.21 at 8:19 pm

2 years.

#63 Dial EcoTV

Forgot. Since you like replete BC coronavirus “official” data links, read this or cut to the chase and scroll to the section titled:

“FUDGING THE NUMBERS?”

https://bc.ctvnews.ca/b-c-health-officials-mum-as-controversy-mounts-over-anti-democratic-reporting-policy-1.5596944

“the numbers never added up”

What I think of your BC data:

BS.

Pretty looking lipstick on a pig BS.

#80 Millennial Realist on 12.14.21 at 8:21 pm

#70 Ronaldo:

“Heck, I’m so old I can still remember that I paid $21,800 for this place (brand new) almost 52 years ago to the day. I was 23 years old…..

…the $1000 home owner grant that I received from the province. I was making $8000 per year at the time which was a decent wage and represented 2.6 times my annual income.

Today you would need a salary of $289,000 (1 salary) to qualify for this place.”

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

Thank you for your illuminating, honest example pf ordinary Boomer privilege. Born on third base when it comes to money and property and asset accumulation.

No average person born since 1980 has had anything close to this easy access into the property market and the old-fashioned middle class.

No reasonable price to income ration homes, no big government grants, no demographic advantages like the retirement of the ‘greatest generation’.

The only way forward in all this, especially in dealing with the massive debt caused by years of under-taxation of the wealthy, will have to be a huge increase in wealth, inheritance and income taxes for the lucky ones, who foolishly think they have “earned” their advantages. (What a joke!)

But, kiddo, how is massively taxing people with houses going to make them cheaper? – Garth

#81 Stuck in NB on 12.14.21 at 8:25 pm

The current situation looks somewhat familiar to anyone who lived in Russia in the 1990’s: spiralling government debt, individual finances getting slightly better after the 1992… until Russia defaulted on govt bonds in August 1998. That was an interesting time to be alive, tons of opportunity to grab assets for cheap. The official salary of a junior research scientist at the Russian Academy of Sciences immediately after the crash was about US$400 (four hundred dollars) per year, however.

Ergo, time to diversify your capital globally. Winter is coming.

#82 Ponzius Pilatus on 12.14.21 at 8:33 pm

Compared to Austrian politics, Canadian politics are pretty tame.
The elected Chancellor (PM) had to resign due to corruption.
His replacement just quit, replaced by a nobody.
COVID cases are through the roof.
Nasty.
The party in charge is the right wing VolksPartei (People’s Party).
As they say: Be careful what you wish for.

#83 Michael in-north-york on 12.14.21 at 8:34 pm

#26 Soviet Capitalist on 12.14.21 at 5:24 pm

Trudeau knows all this too. Part of me wonders why would he give a green light to BCs mandate on inflation at 2% target then?

I can only see 2 possible answers:
1. He knows something we don’t and CAD devaluation will remain low despite crazy inflation.
2. BCs mandate will be ‘flexible’ and a lot of creativity in calculating CPI, combined with (now we target 3%, no 4%, no whatever) will achieve some semblance of both BC and Trudeau saving face

Which of the 2 options is more likely?
===

I vote for the third option. They will keep claiming that 2% remains the target, but won’t get anywhere close to that, and won’t try hard either. The actual inflation will be in the 4% to 7% range.

And if anyone asks BoC why they aren’t moving the interest rates higher? They will answer, because we can’t afford a recession. We want 2% inflation, we really want it, but we can’t get there.

#84 CL on 12.14.21 at 8:44 pm

Does anyone stop to think that every country in the world is “in debt” so who is doing all the lending?

Our whole monetary system is based on debt. Government debt cannot and, never will be, paid off. Central banks can buy gov’t debt all day long and create as much money as they want. You saw and heard it clearly today, fiscal and monetary policy are married. Joined at the hip. Isn’t that what the leeway is for in terms of letting the inflation rate run hot if needed? so not to jeopardize jobs, and to “maximize” full employment? The CB is definitely not independent. It is written:

https://laws.justice.gc.ca/eng/acts/B-2/page-2.html#docCont

“Government Directive
Marginal note:Consultations

14 (1) The Minister and the Governor shall consult regularly on monetary policy and on its relation to general economic policy.

Marginal note:Minister’s directive

(2) If, notwithstanding the consultations provided for in subsection (1), there should emerge a difference of opinion between the Minister and the Bank concerning the monetary policy to be followed, the Minister may, after consultation with the Governor and with the approval of the Governor in Council, *****give to the Governor a written directive concerning monetary policy, in specific terms and applicable for a specified period, and the Bank shall comply with that directive*****.”

If the PBO is saying we will have deficits until 2070 then prepare for permanent enhanced inflation.

It’s all Monopoly money, a Ponzi, an illusion or whatever you want to call it.

Bring on deflation. I’m sick of having my savings confiscated by this inflation tax. I don’t see the thrill about losing a yearly 2% (now almost 5%) of the value of currency I hold.

#85 crowdedelevatorfartz on 12.14.21 at 8:47 pm

@#76 A quintillian $$$$$ deeper in debt

“In the meanwhile, better the spendthrift, rather than the evil rednecks.”

++++

Careful what you wish for.

#86 Robert Ash on 12.14.21 at 8:50 pm

Relative to the subject at hand I read an interesting commentary on the impact of the ZIRP and the long term financial repression. The comment focused on money printing, in a cavalier fashion. I can relate to this comment, as I believed in the rules, of GAAP and prudent living, ended with good results, in a democracy. The comment I am referencing talked about the Malaise that Savers, Hard Working people feel, is palpable. The lack of a Goal, or a Trust to protect our lives of work, and contribution, are being eroded by the very people we entrusted to protect those morals, and commitments. Not a good situation, and all the worse for the Money not finding a Productive capacity. Criminal really.

#87 Michael in-north-york on 12.14.21 at 8:54 pm

#76 Quintilian on 12.14.21 at 7:58 pm

In the meanwhile, better the spendthrift, rather than the evil rednecks.
===

Not for very long. Inflation is a non-progressive tax, a tax on everyone. The rich can no longer afford a yacht, the working poor can no longer afford 3 meals a day.

The modern economic and political system has some degree of resilience, but once those resources are exhausted, changes can be very quick and dramatic.

Once Libs are done with, neither Cons nor Dippers benefit. Rather, it all goes to some new political entity: highly populist, willing to swing between the left and right slogans dependent on what suits them best at the moment, and ruthless when dealing with dissent. Enjoy the meal you cooked.

#88 Leftover on 12.14.21 at 9:03 pm

Pee-Nuts

US deficit to GDP is 13% while Canada’s is about half that.

Neither is a good number, but while we worry about inflation our currency will hold up pretty well against the greenback under the current scenario. No hyperinflation on the horizon.

Sorry kids, that’s all that matters.

#89 ImGonnaBeSick on 12.14.21 at 9:42 pm

#87 Michael in-north-york on 12.14.21 at 8:54 pm

Rather, it all goes to some new political entity: highly populist, willing to swing between the left and right slogans dependent on what suits them best at the moment, and ruthless when dealing with dissent. Enjoy the meal you cooked.

We already have him… He’s the premier of Ontario… Dougleen Wynneford

#90 crowdedelevatorfartz on 12.14.21 at 9:48 pm

@#80 Millennial Venomist

“The only way forward in all this, especially in dealing with the massive debt caused by years of under-taxation of the wealthy, will have to be a huge increase in wealth, inheritance and income taxes for the lucky ones, who foolishly think they have “earned” their advantages.”

+++
I assume from your spittle flecked, daily vitriol….Boomer Mom and Dad have no intention of taking out a Line of Credit to help you buy a place….like your Milly friends?

#91 Km on 12.14.21 at 9:51 pm

@garths son…seriously? The 5th wave and so brutal. Good grief people like you are part of the problem, numbers are so low as they would not have even been mentioned if this was any other disease. It is over but only the governments and the media are the one keep pumping it as it has garnered them control and curtains to hide behind and the media a never ending story they feed on. Vaccine rates are high they are working and it is time for life to move on. If you feel the need to live in a bubble just go do it and let the rest of us move on. Please do even basic research and go on health Canada’s website, it even shows there how the death rate is crazy low to anyone under 80 and most have pre existing health issues only found in aged people, this was without the vaccine and with it numbers are even lower…ding ding indeed knuckle head.

#92 Doug t on 12.14.21 at 9:52 pm

There are no free lunches people

#93 Waystar Royco investor on 12.14.21 at 9:53 pm

Garth you’re right, no one seems to care

I mention anything about the economy to friends and family and all I get back are blank looks….or the occasional comment about how great RE and crypto are doing

Most I can hope for is for the gov’t to kick the can down the road until I retire in 2040, then I’m gone to greener (and warmer) pastures

#94 crowdedelevatorfartz on 12.14.21 at 9:58 pm

Geez.
Perhaps if Trudeau ends up in “retirement” at the UN and does something “unethical” we could ask these New York people to rule on his fate?

https://www.reuters.com/article/us-new-york-cuomo/new-york-ethics-panel-orders-cuomo-to-pay-5-1-million-in-book-earnings-idUSKBN2IT2B0

#95 Doug in London on 12.14.21 at 10:16 pm

The consensus here seems to be that everyone who voted for the Liberals wants a reckless spending government. Personally I doubt that idea. The reality is it’s not so much the Liberals won as the Conservatives lost. They just couldn’t and still can’t get their act together, and until they do the Liberals will win the next election if the NDP doesn’t. In the past I liked the Liberals but am unimpressed by this reckless spending. It looks like we’re headed for what happened in Germany 100 years ago.

Dear Jean Chretien and Paul Martin: would you guys mind coming out of retirement and going on a special assignment in Ottawa? We really need the fiscal sensibility of you guys.

#96 Doug t on 12.14.21 at 10:17 pm

#18 cuke and tomato

Whaaaaaaaaat are you talking about????????

#97 Drinking on 12.14.21 at 10:23 pm

It is so sad and frustrating but MSM and I mean the very greedy, self absorbed people that helped and voted for this will deserve exactly what is coming for them; the rest of us are just numb; we tried to make a difference (voting wise) but when the last election was actually called before B.C. voted then we know we have a problem.

What to do??? Do we all board busses, trains (what trains), drive to Ottawa and show our dis concerns on deaf ears or do we just prepare and leave this failing nation, thanks Ontario for voting for stupidity..

We really need to break this country into separate zones to survive, let Toronto decide its own future; leave the rest of us out of it….

#98 Drinking on 12.14.21 at 10:47 pm

Have been away for a few days; just a question for Fallon, no disrespect whats’ so ever; what is your age group? Just asking out of curiosity, that’s all!

#99 calguy on 12.14.21 at 10:47 pm

The only pandemic going on now is Trudeau’s continued “no common sense” approach. Looks like more travel bans etc. Too late and also they have had NO time to analyze the latest measure just put in a week ago! Looks safe to me to test 24 hours before flying to USA and then get tested coming back. The issue I see is people not wearing masks and having social gatherings. What about sport events, costco etc – why not test there?

Budget update mentions zero about all the health costs and mental health problems to people who have had issues other than covid but probably related. Surgery cancellations and drug overdoses has been terrible. I’m sorry but the US is going back to normal and we are stuck with these draconian rules put on by leaders who crave power. “Best argument against democracy is five minute conversation with the average voter” – Winston Churchill. People need to wake up and do some critical thinking on these issues. We can’t afford more Covid relief and debt!

#100 Chaddywack on 12.14.21 at 10:52 pm

My wife is a doctor here in BC and we have been strongly considering moving down south….maybe Texas. It would be easy for her to get a job and I could sponge off her for a few years until I find out what I want to be when I grow up!

Advantages: lower taxes, better winters, cheaper housing, less restrictions re: covid, no socialist governments, critical race theory banned in schools, oh and after we become a citizens in 5 years we can retire in Hawaii without that pesky 180day limit. If we need healthcare we can always come running back to Canada.

This is how Canada loses professionals.

#101 Da Ta! on 12.14.21 at 10:52 pm

#79 Dolce Vita

For sure DV. Data capture and reporting is a total free-for-all as pointed out by many. Death with Covid and all that jazz. Every jurisdiction does whatever the heck they want it appears.

Few are like Italy, where they track comorbidities and have recently revealed that 97.1% of Italians who passed had them and only 2.9% of Italian deaths can be attributed purely to Covid19.

https://www.factcheck.org/2021/11/scicheck-posts-misrepresent-data-to-falsely-claim-italy-reduced-its-covid-19-death-count/

#102 Drinking on 12.14.21 at 10:53 pm

Just cannot make this up and yet CBC just trumpets it. Grab your ankles and kiss your butt good bye!

https://www.cbc.ca/news/politics/chrystia-freeland-fiscal-update-pandemic-omicron-1.6285558

#103 Ponzius Pilatus on 12.14.21 at 11:03 pm

#93 Waystar Royco investor on 12.14.21 at 9:53 pm
Garth you’re right, no one seems to care

I mention anything about the economy to friends and family and all I get back are blank looks….or the occasional comment about how great RE and crypto are doing

Most I can hope for is for the gov’t to kick the can down the road until I retire in 2040, then I’m gone to greener (and warmer) pastures
———————
You’re lucky.
By 2040 Canada will be warmer.
It’s greener already.

#104 Ronaldo on 12.14.21 at 11:03 pm

#80 Millennial Realist on 12.14.21 at 8:21 pm
#70 Ronaldo:

Thank you for your illuminating, honest example pf ordinary Boomer privilege. Born on third base when it comes to money and property and asset accumulation.
——————————————————————
Born on third base? Right. Raised on a farm in N.Sask. Father dies at 42, leaves mother with 6 kids under age 17. Farm indebted and goes back to the government for taxes. Family has to leave the farm, moves into village. Family goes on welfare. Grandmother urges move to BC so mother can get work as well as the children. Provides a house for the family. Mother goes to work as dishwasher for 65 cents per hour. Sisters get waitress jobs at 13 and 15, brother 17 gets job on railway B&B gang. I get job at restaurant age 11 at $1.00 per day. The youngest is 5 and our grandfather (crippled) living with us. We all have to take turns looking after him as our mother working nighshift. Mother goes off welfare and the rest is history. Yep. Definately born on third base. You have no idea what you are talking about. You should be ashamed. You are nothing but a spoiled brat.

#105 Mehling on 12.14.21 at 11:12 pm

The clear take away for me is to have a % of one’s portfolio in US dollar assets – as Garth advocates.

High oil prices are a gift from God, keeping CAD high.

Free fall otherwise.

#106 fishman on 12.14.21 at 11:12 pm

Feel like grinding your teeth after Uncle Garth’s homily for the day? Thats a symptom of the cognitive dissonance virus. Try building up anti-virals by repeating before bed “Whats mine is mine & whats yours is still mine.” Then have a warm glass of milk with vanilla infused Vodka. Pull the covers up to your chinny chin chin. Imagine yourself doing really really well as your friends & acquaintances fall into poverty & fail miserably.

#107 Overheardyou on 12.14.21 at 11:24 pm

THIS is exactly what happens when you have zero accountability for governments and it’s citizens. Lazy people get paid, the middle gets slaughtered, the wealthy…well they’re liquid! Ha!

I can’t wait till our country gets slapped in the face by their own self interests.

#108 Query on 12.14.21 at 11:31 pm

Question: How can I claim to be indigenous and get these generous payouts? Is it like changing your religion? I was born here, so am I native to this country? Just thinking…

#109 Jennifer on 12.14.21 at 11:45 pm

You must understand Liberals philosophy. Citizens of this ” great” country called Canada are called upon to be generous to their fellow citizens. You must share with those who have needs, and need your support. Sorry, I mean ” your money”.

Your financial contribution is needed to help family to pay for childcare. We need to built homes for those who cannot buy, rent. Making sure that all those who have been wronged are made whole, and so it goes….

And yet, we are waiting years to get surgery date. Emergency rooms that have become walk in clinics.
I mean, should i go on, on, and on.

I think it is time to move away from Canada. I am exhausted.

#110 DON on 12.15.21 at 12:04 am

#104 Ronaldo on 12.14.21 at 11:03 pm
#80 Millennial Realist on 12.14.21 at 8:21 pm
#70 Ronaldo:

Thank you for your illuminating, honest example pf ordinary Boomer privilege. Born on third base when it comes to money and property and asset accumulation.
——————————————————————
Born on third base? Right. Raised on a farm in N.Sask. Father dies at 42, leaves mother with 6 kids under age 17. Farm indebted and goes back to the government for taxes. Family has to leave the farm, moves into village. Family goes on welfare. Grandmother urges move to BC so mother can get work as well as the children. Provides a house for the family. Mother goes to work as dishwasher for 65 cents per hour. Sisters get waitress jobs at 13 and 15, brother 17 gets job on railway B&B gang. I get job at restaurant age 11 at $1.00 per day. The youngest is 5 and our grandfather (crippled) living with us. We all have to take turns looking after him as our mother working nighshift. Mother goes off welfare and the rest is history. Yep. Definately born on third base. You have no idea what you are talking about. You should be ashamed. You are nothing but a spoiled brat.
*******

Great assumptions Millenial Realist. There is a reason why you should never assume. I get your fustration but this is not a gen vs gen game…everyone’s mileage varies.

#111 Drinking on 12.15.21 at 12:14 am

#104 Ronaldo

Clap,clap,clap and I say this in the utmost respect. So many of us had to go through this only to get chastised by young punks who think they have it so hard.

Ok, the other side of me understand there frustrations as those of us that struggled so hard to see what the world of T2 has become. We worked so hard for this NOT TO HAPPEN; there are just a certain few that are creating this hardship, go after them not the ones who worked so hard under them ” JUST TO PAY THE BILLS THAT MATTER”; Christ this world has gone mad!!!!

#112 Capital One on 12.15.21 at 12:29 am

Garth,

I found these paragraphs questionable. I am indebted to your financial insight and don’t know where I would be without it. And your insight is clearly based on an understanding of the many economic wheels in motion.

But … your previous downplaying of the unmarked graves of the residential schools, along with these words (“mistress”, really??), I can’t figure out if you’re my father’s Oldsmobile or my daughter’s Tesla. Somehow “rape” – the old word for “sexual assualt” – is OK?? ” bad, male-oriented culture in the male-dominated armed forces”??

CO

—-

This week, Monday, two federal cabinet ministers (we now have two for First Nations peoples) announced $40 billion would be handed over for reparations and reform related to Indigenous youth programs.

It was barely news.

The defence ministress has pledged almost $650 million to address a bad, male-oriented culture in the male-dominated armed forces. Meanwhile 19 of the 23 new, over-budget copters our military people rely on don’t fly because they have cracks. But that seems moot.

—-

#113 NoName on 12.15.21 at 12:30 am

Who made this?

https://youtu.be/zgni18FKfE0

#114 Jan Beckman on 12.15.21 at 12:38 am

We’ve been too nice to the maniacal spenders. Now you see the sky is falling and it’s still politically incorrect to even mildly chastise Trudeau? Taxpaying Canadians who stay quiet deserve what’s coming.

#115 willworkforpickles on 12.15.21 at 1:02 am

Trudeau spends money like there’s no tomorrow as if he knows there’s no tomorrow. But really, he’s not that smart.
As for history, (not past. not present, but in the not too distant future) that is if records will even be kept or exist in the future regarding North American history… such records future tense, could conceivably be written to show that Trudeau spent like there was no tomorrow because he knew there was no tomorrow. Smart S.O.B. that Trudeau…

In time it may even almost look that way.

Actually though, all truth be told… Trudeau doesn’t know what’s coming or that the debt will never be paid. At least not in the conventional ways of paying back debt as they currently exist in the free world.
Aside, the dollar and sovereignty of nation itself will cease to exist before this decade reaches the next.
… The upheaval to come won’t solely be his fault , he will merely have his place in taking some of the blame for the great calamity heralded in by the debt junkies this side (south) of the Canadian border.

#116 greyswan on 12.15.21 at 1:23 am

There are roughly 900,000 native people in Canada.
40 billion dollars divided by is hard to even contemplate!!
…on top of all the other costs is incredible not needed to be reported under the law!!

If you want taxpayers help become one as part of society.

#117 millmech on 12.15.21 at 2:04 am

The only thing that matters to “Canadians” now is how much more will my house increase in value and how many more houses can I afford to invest in.
That is the new “Canadian” value in our post nation state, real estate

#118 Joe Lalonde on 12.15.21 at 3:48 am

The ‘Great Reset’ will solve Trudeau’s problems as the debt will be gone…
The jackasses in power fail to realize that it’s the internet that is about to be reset.
Everything wiped including communications and all the data that took decades to format the internet to this point.
Our criminals in power should realize that escaping and wiping out all debt means the internet must be shut off and all this data to date, disappears.

#119 westcdn on 12.15.21 at 5:08 am

I may go CP. I like the setup. Trouble it is expensive for me. I think buying down debt maybe a smart move for me though the return is small. Losing is not I want. Guess what I do. Surviving is a tough trick.

#120 Love_The_Cottage on 12.15.21 at 7:38 am

#95 Doug in London on 12.14.21 at 10:16 pm
The consensus here seems to be that everyone who voted for the Liberals wants a reckless spending government….The reality is it’s not so much the Liberals won as the Conservatives lost. They just couldn’t and still can’t get their act together…. In the past I liked the Liberals but am unimpressed by this reckless spending.
______
Agreed Doug. One key issue for most Canadians is the climate and the PC’s voted against a motion at the convention that climate change is real. I can’t speak for others but I know for myself I couldn’t vote for the PC party after that.

There is no federal “PC” party. – Garth

#121 crowdedelevatorfartz on 12.15.21 at 8:06 am

@#103 Ponzie’s Pyromania Problem.

“By 2040 Canada will be warmer.
It’s greener already.”

+++

I guess the annual forest fires in BC slipped your mind?

#122 crowdedelevatorfartz on 12.15.21 at 8:08 am

@#104 Ronaldo
“You have no idea what you are talking about. You should be ashamed. You are nothing but a spoiled brat.”
+++

It’s hard for Millennial Surrealist to empathize with anyone….. when he’s spent decades whining to a mirror.

#123 crowdedelevatorfartz on 12.15.21 at 8:31 am

@ Millennial Socialist

The real reason Millennial Socialist is such a whiney wanker.

https://nationalpost.com/opinion/the-capitalist-manifesto-socialism-not-only-makes-people-worse-off-it-also-makes-them-worse/wcm/f8724e97-84d6-44a9-a570-e38d694ea7ce

#124 Love_The_Cottage on 12.15.21 at 8:37 am

This week, Monday, two federal cabinet ministers (we now have two for First Nations peoples) announced $40 billion would be handed over for reparations and reform related to Indigenous youth programs.
__________
To be a bit clear $40B has been budgeted for reparations and reform of the current system based on a federal court order. This would be true no matter who was the current government. The final amount may be lower depending on the final agreement.

https://www.ctvnews.ca/politics/ottawa-to-include-40-billion-in-fiscal-update-to-cover-compensation-for-first-nations-kids-1.5705483

Sure. Forty billion. Just throw it on the pile. – Garth

#125 Do we have all the facts on 12.15.21 at 8:38 am

I cannot believe that a Finance Minister can provide Canadian citizens with an economic update that excludes any reference to unfunded liabilities driven by an aging population.

Chrystia kept nattering on about how Federal government debt is ‘only’ 48% of GDP while neglecting to mention that the ratio in 2019 was 19%. If you add up all current debt of all governments the ratio of debt to GDP in 2021 is getting pretty close to 100%.

The elephants being totally ignored by the Liberal Party are the unfunded liabilities attached to our aging population. A peek at our current demographic pyramid
indicates that future pension, OAS, GIS, and health care obligations are growing much much faster than projections of Canadian GDP. Increases in Federal government transfers to Provincial governments to support Health Care in Canada appear to be capped at 3.0% per annum. Totally inadequate based on inflation alone.

The reality is that projections of total government debt over the next ten years are frightening. The sustained period of low interest rates has not helped millions of Canadian citizens to properly prepare for retirement. Devaluation of limited retirement income through inflation is definitely compounding an impending crisis.

I was looking for honesty yesterday but all I heard was we have debt, inflation and Covid under control.

If only that was true Chrystia if only that was true!!

#126 willworkforpickles on 12.15.21 at 8:45 am

# 118
The US debt for one will never be reset as an actual reset. Foreign countries/holders of US debt will not stand for it short of war. As the US goes so does Canada.
Now as for WWIII reaching NA soil over debt…….the end of debt by war will be the least of all worries then.

#127 Big Bucks on 12.15.21 at 9:02 am

#116

$40 billion divided by 900,000 is only $44,444 each.The $40 bill is only a down payment …it will never end and will be in the $trillions 100,200,300,1000 or 5000 years from now.A government will never say enough as it just won’t look good or get votes.

#128 Phylis on 12.15.21 at 9:28 am

#84 CL on 12.14.21 at 8:44 pm
Yes, that’s how I remember the rules for the board game Pole Economy.

#129 Phylis on 12.15.21 at 9:32 am

#80 Millennial Realist on 12.14.21 at 8:21 pm
Haven’t you finished your prescription of bitter pills yet? Next time ask for the better pills.

#130 crowdedelevatorfartz on 12.15.21 at 9:38 am

@#116
$40,000,000,000 handed out to 900,000 would be approx $44,444 each. ( oddly enough the spoken number “four” in English sounds like “death” in Chinese…useless trivia . :))
But we aren’t talking ALL first nations winning the Liberal Lotto.
No No.
$40,000,000,000 to be handed out to the “survivors” of Residential schools.
But first the govt must determine “What is a “survivor”?

I’m sure the govt bureaucrats will burn though billions with lawyers, political appointees, Senate hearings, committees, commissions, “Truth tours”, training sessions, gala’s , smoke purification ceremonies, renaming buildings, bridges, airports, ships, mountains, maps, provinces? etc etc etc.
They govt leeches will spend $20,000,000,000 to determine who gets the money.
The other $20 BILLION will be handed out to say 100,000 peeps.

$20,000 each….tax free….. sounds fair……….
Don’t you think?
Should be interesting watching the internecine fighting over who deserves the money more.

20k or 40 k each.
Peanuts when you break it down like that.
And it wont help anyone achieve anything except…..
Get Trudeau and his merry band of Budget burners out of trouble until next election.
$40 billion to buy him time.

#131 Anonymous on 12.15.21 at 9:50 am

It’s Minister Anand and Freeland.

#132 Dharma Bum on 12.15.21 at 10:03 am

#117 Millmech

The only thing that matters to “Canadians” now is how much more will my house increase in value and how many more houses can I afford to invest in.
That is the new “Canadian” value in our post nation state, real estate.
———————————————————————————————————-

Ever since the original “Hockey Night In Canada” broadcast was watered down into a politically correct bore fest, and the catchy theme song (I know you’re singing it in your head now…da da da da da – DA DA DA DA DA- DA DA DA DA DA DAHHHHHHHH…) was dropped, Canadians had to shift their focus onto something else.

Houses.

We’re mostly a nation of simpletons.

Undeniably.

#133 Shawn Allen on 12.15.21 at 10:09 am

Inflation – what to do?

Most of us can battle inflation by being more aggressive in shopping. Watch for sales on grocery items. Shop at the cheaper grocers. Join the points programs that offer cash rewards for buying certain items. Switch to store and generic brands. Refuse to buy certain products. Cut back on red meat consumption.

Use up the food in the freezer first.

Cut back on eating. Most people can afford to lose a few pounds at least.

Collectively these actions can and will have an impact.

#134 Dr V on 12.15.21 at 10:18 am

And in other news, markets are down again, apparently in anticipation of fed tapering…..

I can live with that.

#135 Old Active on 12.15.21 at 10:23 am

DELETED

#136 Quintilian on 12.15.21 at 10:23 am

Change is needed but, reasonable and intelligent people cannot take the right-wing nuts seriously.

Just a small sampling:

Exhibit A:
#100 Chaddywack
“My wife is a doctor here in BC and we have been strongly considering moving down south….maybe Texas.”

Exhibit B:
#109 Jennifer
“I think it is time to move away from Canada. I am exhausted.”

Exhibit C:
#108 Query
“I was born here, so am I native to this country? Just thinking…”

#137 millmech on 12.15.21 at 10:35 am

#100
I have received two job offers for skilled trade work in Texas . The money and benefits is making it very tempting to go.
It will not just be the tech workers that go, the best and brightest in all the fields will leave for greener pastures.
The problem with a post nation state is that there is nothing to identify with a common bond that holds you back any more.
We use to be a militarily respected country, you remember when Canada had “soft power” and we had influence on the world stage, gone.
Our great health care system is now overwhelmed and under funded.
Our education system where the best and brightest were nurtured and taught to be leaders in their fields, gone.
All that money spent and what do we have to show for it.

#138 Don Guillermo on 12.15.21 at 11:04 am

#128 Shawn Allen on 12.15.21 at 10:09 am
Inflation – what to do?

Cut back on eating. Most people can afford to lose a few pounds at least
*************************************
That’s priceless. “Cut back on eating” should be the Liberal tagline going into the next election. NDP could run with “Cut back on living.”

#139 Shawn Allen on 12.15.21 at 11:07 am

Did the Feds “set money aside” for various things?

It was disturbing to hear both BNN and CTV mention several times that in the budget update, the Trudeau government has “set money aside” for various things including increased COVID costs.

Obviously in a huge deficit situation no money whatsoever has been “set aside” for anything. All they have done is forecast or commit to the spending.

This is lazy journalism and adds to the apparent perception that the feds have money this when in fact every incremental dollar spent is an incremental borrowed dollar. (Unless there is a specific tax increase ear marked for it, which there is not.)

#140 Sail Away on 12.15.21 at 11:13 am

With all this doom and gloom, my main concern at the moment is next adventure season. With all of the remote areas beckoning, it would be very nice to have an always-packed, towable base camp ready to hook up and leave at a moment’s notice without logistics, so the dogs and I have sketched up a 5×8 unit on offroad axle, with woodstove and 12v power system about 1,200 lbs dry. Sort of like a nice icefishing shack.

#141 Ponzius Pilatus on 12.15.21 at 11:22 am

For those who wanna go to warmer climes.
The Russian Arctic registered over 100F this year.
Say hello to Putln for me

#142 dosouth on 12.15.21 at 11:26 am

Gong show…just a Gong show.

#143 Squire on 12.15.21 at 11:41 am

#124 Love_The_Cottage on 12.15.21 at 8:37 am
This week, Monday, two federal cabinet ministers (we now have two for First Nations peoples) announced $40 billion would be handed over for reparations and reform related to Indigenous youth programs.
__________
To be a bit clear $40B has been budgeted for reparations and reform of the current system based on a federal court order. This would be true no matter who was the current government. The final amount may be lower depending on the final agreement.

https://www.ctvnews.ca/politics/ottawa-to-include-40-billion-in-fiscal-update-to-cover-compensation-for-first-nations-kids-1.5705483

Sure. Forty billion. Just throw it on the pile. – Garth

————————————————————-
#124 Love_The_Cottage

So since you “Love The Cottage” $40 billion would be the equivalent of adding $150,000 cost on to your Cottage. Still seems like nothing to you ?
Do you have any idea what $40 billion can do if managed properly ? likely not

#144 Bob Dog on 12.15.21 at 11:42 am

DELETED

My apologies for having missed this piece of trash when it was first posted. – Garth

#145 Linda on 12.15.21 at 11:59 am

#66 ‘Cowtown’ – au contraire buckaroo. One of the defining elements of communism is ‘public ownership of natural resources’. You can’t get much more natural than a virus & I for one do NOT want to own it. Hence desiring the scientifically proven ways of control including vaccination to keep from owning it. So no, not a ‘commie’ of any color. Though I do like pink, especially when the roses are in bloom:)

#146 Yukon Elvis on 12.15.21 at 12:21 pm

#137 millmech on 12.15.21 at 10:35 am

We use to be a militarily respected country, you remember when Canada had “soft power” and we had influence on the world stage, gone.
++++++++++++++++++

FOCUS ON… THE CF-101 VOODOO

CF-101 VOODOO

It was Canada’s fighter jet after the fall of the Arrow and it fought the Cold War armed with nuclear weapons (although that was never officially confirmed at the time).

The 58 McDonnell CF-101 Voodoos, located at Air Force bases from Comox, British Columbia, to Chatham, New Brunswick, were the main strike fighter against any incoming Soviet attack.

The Voodoo initially carried the Falcon missile and then the Genie nuclear missile. Flying at Mach 1.72 (almost twice the speed of sound) at 10,500 metres (35,000 feet), the Voodoo kept the peace.

http://www.rcaf-arc.forces.gc.ca/en/on-windswept-heights-2/58-history-1975-2011.page

#147 Steven Rowlandson on 12.15.21 at 12:31 pm

That’s right almost no one cares about government debt.
Those that do are deemed to be in the same category as tin foil hat conspiracy theorists and nut jobs.
Your typical citizen figures the debt to be the governments problem or some one else’s problem and that nothing should ever get in the way of pensions, other social programs and the usual pork barrel programs.
There is no political will to pay down debt and slash spending. So if the clot shot doesn’t end the party some kind of financial disaster might. Just a matter of finding a way of pulling the plug on the system.

#148 Silent the people on 12.15.21 at 12:35 pm

Garth, most Canadians are living paycheque to paycheque! Keep the spending going! There’s no money
left to tax!

#149 Love_The_Cottage on 12.15.21 at 12:47 pm

#137 millmech on 12.15.21 at 10:35 am
I have received two job offers for skilled trade work in Texas . The money and benefits is making it very tempting to go…
We use to be a militarily respected country, you remember when Canada had “soft power” and we had influence on the world stage, gone.
____
Just so I understand, a key factor in your decision to move to Texas is that Canada doesn’t have a big enough influence on the world stage? I certainly can respect that opinion, I’m not sure most would consider that a key factor in their decision. I could be wrong of course.

Do issues like gun control, abortion rights and universal health care factor into your decision? Again I can only speak for myself, but those would be key factors for me.

#150 Sail Away on 12.15.21 at 1:02 pm

#138 Don Guillermo on 12.15.21 at 11:04 am
#128 Shawn Allen on 12.15.21 at 10:09 am

Inflation – what to do?

Cut back on eating. Most people can afford to lose a few pounds at least

———-

That’s priceless. “Cut back on eating” should be the Liberal tagline going into the next election. NDP could run with “Cut back on living.”

———-

Haha.

‘Worried about inflation? Don’t eat so much. You’re probably too fat, anyway.’

#151 Faron on 12.15.21 at 1:16 pm

Hey Repurchase Disagreement, because you are so good at Wikipedia, can you look up the last time there was a tornado threat extending to Minneapolis, MN in mid December?

…oh, there hasn’t been one until exactly today. Got it.

#152 Faron on 12.15.21 at 1:18 pm

#140 Sail Away on 12.15.21 at 11:13 am

Can you, pretty please, call it the:

Classy
Engineer’s
Wilderness
Shelter

tnx.

#153 Michael in-north-york on 12.15.21 at 1:22 pm

#89 ImGonnaBeSick on 12.14.21 at 9:42 pm

#87 Michael in-north-york on 12.14.21 at 8:54 pm

Rather, it all goes to some new political entity: highly populist, willing to swing between the left and right slogans dependent on what suits them best at the moment, and ruthless when dealing with dissent. Enjoy the meal you cooked.

We already have him… He’s the premier of Ontario… Dougleen Wynneford
===

Those two are a faint hint of what could come in the future. Based on the history of other countries on other continents.

#154 Faron on 12.15.21 at 1:36 pm

Quite impressed by how well the indexes are holding up as the meme stonks, profitless garbage, and meme stonks for manboyz eat dirt. Profitless crapcos (everything in ARKK) rely on financing to exist. Financing is getting more expensive with central banks unpinning the bottom of the yield curve and the bond markets doing the rest.

Also, overlaying the dot com bubble price history against ARKK is a dead ringer. Hasn’t happened yet, but Cathie’s perfect record of blowing up funds may stand.

Pour one out for CLM who top ticked ARKK this year.

#155 DON on 12.15.21 at 1:47 pm

In the US….interesting…but Canadians are fincially prudent so this can’t occur here…..

https://www.businessinsider.com/homeowners-house-poor-working-second-jobs-taking-on-debt-mortgages-2021-12

#156 Not Fooled on 12.15.21 at 2:10 pm

“The defence ministress has pledged almost $650 million to address a bad, male-oriented culture in the male-dominated armed forces. Meanwhile 19 of the 23 new, over-budget copters our military people rely on don’t fly because they have cracks. But that seems moot.”

************
“Male-oriented culture”? That’s a nice rape euphemism. Perhaps all the males that don’t rape women would rather not be associated with this “male culture”?

How many rapes have been alleged? How many proven? Please link. – Garth

#157 All lies and manipulated u decide on 12.15.21 at 2:15 pm

Trudeau is a disaster in every sense of the word.
Governments prey on pushing fear to boot. Its never ends. They use all this crap to reduce your freedoms, implement new laws that infringe on your rights.
They would love to reduce your movements because your bad for the environment. COVIDs been the gift of the gods. Their pre-predicting how bad the OMIRCRON will be like they have a crystal ball. They have the media as their arm of the propaganda machine working full speed ahead. WTF happened to rounding the corner nearly 1.5 years ago?
Its good to be rich these days so ya can still can afford steak, lobster and a Vacation without going into more HAWK.
He didn’t even win the election. China did some fancy footwork in the back ground. Don’t believe me? They need him for their big agenda. They have made it clear. GLOBAL DOMINANCE is their plan. T2 is there to help.
Nice work T2 calling bogus election in the middle of a pandemic costing 100s millions.
Who voted for him? I would like to have a chat.

#158 All lies and manipulated u decide on 12.15.21 at 2:38 pm

#124 Love_The_Cottage on 12.15.21 at 8:37 am
This week, Monday, two federal cabinet ministers (we now have two for First Nations peoples) announced $40 billion would be handed over for reparations and reform related to Indigenous youth programs.
__________
To be a bit clear $40B has been budgeted for reparations and reform of the current system based on a federal court order. This would be true no matter who was the current government. The final amount may be lower depending on the final agreement.

https://www.ctvnews.ca/politics/ottawa-to-include-40-billion-in-fiscal-update-to-cover-compensation-for-first-nations-kids-1.5705483

Sure. Forty billion. Just throw it on the pile. – Garth
———————————————–
You said it Garth. The numbers just don’t matter any more.
We live in batshit crazy…..T2 the money don’t matter man.
I know where this goes and no good for most.

Now the Indigenous folks want their own Olympics. That can go on the pile too.

Go ahead MAKE my day. I just bought another freezer $400 and a box of lobster and a side of beef $2,200.00.
I’ve prepared my self for this kind of government stupidity. Most have no clue..

#159 Sail Away on 12.15.21 at 2:53 pm

#152 Faron on 12.15.21 at 1:18 pm
#140 Sail Away on 12.15.21 at 11:13 am

Can you, pretty please, call it the:

Classy
Engineer’s
Wilderness
Shelter

———

Maybe. CEBA was better, though, since it granted $20k free without the need for pesky employees.

I’m actually hoping to name it:

Chrystia’s
Excellent
Bling
Addition

…if C can only succeed in diverting more scrumptious cash to those of us who don’t need it. Go Chrystia!

#160 Love_The_Cottage on 12.15.21 at 2:56 pm

#143 Squire on 12.15.21 at 11:41 am
#124 Love_The_Cottage on 12.15.21 at 8:37 am
This week, Monday, two federal cabinet ministers (we now have two for First Nations peoples) announced $40 billion would be handed over for reparations and reform related to Indigenous youth programs.
__________
To be a bit clear $40B has been budgeted for reparations and reform of the current system based on a federal court order. This would be true no matter who was the current government. The final amount may be lower depending on the final agreement.

https://www.ctvnews.ca/politics/ottawa-to-include-40-billion-in-fiscal-update-to-cover-compensation-for-first-nations-kids-1.5705483

Sure. Forty billion. Just throw it on the pile. – Garth

————————————————————-
#124 Love_The_Cottage

So since you “Love The Cottage” $40 billion would be the equivalent of adding $150,000 cost on to your Cottage. Still seems like nothing to you ?
Do you have any idea what $40 billion can do if managed properly ? likely not
_________
I agree with you it seems like an excessive amount of money. I was simply pointing out that the CURRENT government is under court orders to do something about the problem that occurred over the previous decades. Trudeau can and should be blamed for a lot of problems including most of the current deficit. This problem was not caused by him though. Does anyone evidence to show otherwise? If so I can be proven wrong.

#161 All lies and manipulated u decide on 12.15.21 at 3:02 pm

#150 Sail Away on 12.15.21 at 1:02 pm
——————————–
Move to rice only diet. Throw in a few sardines..

Both my places have food for a year. My cow was 5lb could sell for $10 thats a good return but Id rather have a Barbie.

And here a lesson to people I’ve said for years. “your poorer than you think”
Stop buy crap you cant afford and don’t need including over priced houses.
People live on the margin…bad way to go. Now you will see why.

#162 Sail Away on 12.15.21 at 3:20 pm

#161 All lies and manipulated u decide on 12.15.21 at 3:02 pm
#150 Sail Away on 12.15.21 at 1:02 pm

———

Both my places have food for a year. My cow was 5lb could sell for $10 thats a good return but Id rather have a Barbie.

———-

Better get a smoker fired up if the power fails or all that beautiful meat will turn into crab bait.

Could always take a page from the old-timers and smoke in a standing hollow tree. That’s what Wrk.Dover would do. And he’d probably live in the tree tax free!

#163 Not Fooled on 12.15.21 at 3:25 pm

#156 Not Fooled on 12.15.21 at 2:10 pm
“The defence ministress has pledged almost $650 million to address a bad, male-oriented culture in the male-dominated armed forces. Meanwhile 19 of the 23 new, over-budget copters our military people rely on don’t fly because they have cracks. But that seems moot.”

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“Male-oriented culture”? That’s a nice rape euphemism. Perhaps all the males that don’t rape women would rather not be associated with this “male culture”?

How many rapes have been alleged? How many proven? Please link. – Garth

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Rather disingenuous of you Garth when in only 5 years, 581 complaints of sexual assault (unknown how many were rape accusations), and over 200 of sexual harrassment, were made before the operation was dismantled, and the officers in charge of the investigation were removed due to credible accusations of impropriety.

https://www.cbc.ca/news/politics/canadian-forces-sexual-assault-misconduct-operation-honour-1.6006290

“4,600 people — both women and men — have signed up for redress through the recent federal class-action lawsuit settlement for survivors of sexual assault in the military.”

I’m sure it’s just the women that are lying about sexual assault, though.

#164 Freedom First on 12.15.21 at 3:26 pm

Thank you for your Blog Garth!
You do an incredible job of allowing a wide array of comments, which succeeds in covering a multitude of differing outlooks and opinions. Thus revealing very good advice and truth on finance, as well as worldly topics.
Much gratitude for your years of perseverance!!!

Freedom First

#165 victor on 12.16.21 at 1:18 pm

By electing “The budget will balance itself”, we got what we want regardless.