Lost

Oh, man. Here we go.

So the latest inflation number (official 100%-government approved stat) is 4.72%. Not since we were all humming that cute little ditty by Color Me Badd (“I Wanna Sex You Up”) and watching Michael Jackson’s moon walk have prices romped like this. That was thirty years ago. Boomers were nesting, buying houses. Millennials were crawling under coffee tables and drooling on themselves.

In 1991 a five-year mortgage cost 11.25%. That’s why the average house (in Toronto) traded for $234,000.

So today we have 1991-style inflation, 2.5% home loans and the price of a home (benchmark, national) is $790,600. In the GTA the average property is valued at $1.1 million. Household debt – like Canada’s indebtedness – is off the charts. Real estate values jumped 25% across the nation in the past year, wages are up 2% and money is devaluing at the rate of almost 5%.

There’s no way to sugarcoat this, kiddos. We screwed up.

Now LePage (or is it Re/Max? – hard to tell the pumpers apart) says homes will cost 10.5% more by this time in 2022. Economists at RBC, Scotia, TD and everywhere are calling for three to fine rate increases in the coming twelve months, since the CB has to try to tamp down the cost of living. If that’s true, GTA properties will cost $110,000 more, mortgages will be closing in on 4% and we’ll all need some sexing-up.

But wait. Omicron.

The feds are now telling people to cancel their airline tickets for Christmas and beyond. Tomorrow Ontario starts pushing third doses to everyone over 18. Chrystia, our non-financial Finance Minister, yesterday gave an economic update that could have been written by the marketing department at Pfizer. Is she using the next wave of the virus to divert attention from endless deficits and unrepayable debt? Or is this really Covid all over again – the same slimy pathogen that caused a real estate feeding frenzy and wall-to-wall WFH.

And speaking of that, look at the banks.

They’re now rescheduling the RTW plans that were to click in three and a half weeks from now. Scotia was the first to hit the pause button. Now they all are. The economic consequences suck. Jeremy in Toronto just wrote these words to me: “I walk the Path daily. Stores dropping every week. Here’s one that used to be a well-know women’s clothing store. Clerks sit bored with arms crossed in other stores. Coffee bars  are still bumping.”

Sad. Almost four million square feet of retail space sits – mostly empty – beneath Toronto streets. In the BeforeTimes it contained 1,200 restaurants, shops and services generating $1.7 billion in sales and employing 4,600 people. Tax revenues from those businesses equaled $271 million. So while Chrystia boasted yesterday that “106% of the pre-Covid jobs have come back” there’s no hiding the pain that has befallen entrepreneurs, franchise owners, operators, commercial leasing companies, landlords and thousands of hourly and contract workers. Meanwhile inflation is almost 5%, houses cost 25% more than a year ago, and interest rates will be increasing. Oh, and the government is so overspent that taxes will be rising.

Recall the statement here yesterday that our national debt has rise 128% under one prime minister. This is money that will be far more difficult to service as rates rise, becoming a taxing millstone around the neck of your teenaged daughter or young grandson. Maybe they’ll still be dealing with the latest variant as they become adults. Or live in a world where the changing climate brings food insecurity and millions of environmental refugees.

Yes, all this is daunting. Meanwhile we are governed by people obsessed with diversity, inclusion, social justice issues, apologies, reparations and equality. All important. But somehow less important than shelter, food and health. Ah, yes – and solvency.

This sad little post comes after reflecting on the events of yesterday. We are slipping in many ways, on multiple fronts. Priorities have shifted and the people have been misled. Kids crawling around in 1991 were told repeatedly they were special and could have anything they wanted, But that was untrue. They vote now. We’re reaping the harvest. And we have lost our way.

About the picture: “Star lives on a large acreage in southern Alberta with a close family member,” writes the blogger known as The Jaguar. “One of four barn cats. The other three were born into difficult circumstances and rescued from a dreary life in BC. “

202 comments ↓

#1 crowdedelevatorfartz on 12.15.21 at 3:11 pm

“So while Chrystia boasted yesterday that “106% of the pre-Covid jobs have come back” there’s no hiding the pain that has befallen entrepreneurs, franchise owners, operators, commercial leasing companies, landlords and thousands of hourly and contract workers.”

++++

Garth Garth Garth

She was bragging about GOVT jobs…..

#2 AntMan on 12.15.21 at 3:14 pm

The housing crisis circa 1977: https://time.com/vault/issue/1977-09-12/page/68/

I remember reading this article when I was in high school and thought “well, I’m done”. Turns out things aren’t so bad after all while I sit in my fully paid for planet destroying socially unjust SFH.
If nothing else the article is worth looking at just to peruse the ads for tobacco and alcohol. This was culture in the time before smart phones, helicopter parents, participation trophies and the nanny state. Good times. And not a single whiney socialist millenial in sight. Ahh.

#3 BlogDog123 on 12.15.21 at 3:16 pm

Our ‘dear leader’ Justin Trudeau knows that an electorally favourable mix of misinformed voters keeps him in power (ON/QC) year after year.

Once he senses the knives and wagons circling, he’ll bail and leave Ms Plutocrat holding the bag ‘a-la-Kim-Campbell’…

Then T2 and family ride off into the sunset delusionally saying “aww I’m good enough, smart enough, and golly people still like me.”

#4 TurnerNation on 12.15.21 at 3:16 pm

Yesterday’s blog said: “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.”

It’s been said that the goal of al this is to Bankrupt all the Former First World Countries. How we doing, on track? Then, introduce the digital currency system (which our central bank already has developed).
What do you think the Permanent QR codes are for – for your ‘health’?

— Yes Big Tech and A.I. is running this New System.
Comrade have you proven your health today? Let me see your papers.

https://www.salesforce.com/products/health-safety/dreampass/?d=cta-li-promo-263
“Collect COVID health statuses and send event protocols with Dreampass.”


— Just for fun. Generate your own CV Rule! Science in action.

https://koronawirus.lol/en/

–There you have it. Last night T2 ordered the provinces to being shutting down Christmas, the small business economy. Of course. We will be on Global lockdown until 2025 per plan. Bats and wet markets right?

.City of Toronto extends masking bylaw until at least April 2022 (cp24.com)

.Ontario’s top doctor says announcement coming later this week on measures to slow Omicron(toronto.ctvnews.ca)

[email protected] Regarding the call between @JustinTrudeau and the premiers tonight. Hearing: Must be vaccinated to enter. No non-citizens. Advisory against non-essential travel. Feds will also push provinces to enact domestic measures including limiting Christmas gatherings, even family

#5 Lee on 12.15.21 at 3:17 pm

“And we have lost our way.” Surely it’s not that bad?

#6 mark on 12.15.21 at 3:18 pm

1st.

#7 Felix on 12.15.21 at 3:19 pm

Beautiful creature.

Not a dogawful burden on the planet.

#8 Felix on 12.15.21 at 3:20 pm

LOST DOG

No one cares. Take the sign down.

#9 Squire on 12.15.21 at 3:21 pm

Garth, well written. So sad but true. For those of you that voted for the Liberals, thank you for doing us all in. Remember, you will also pay for the bad choice not just everyone else.

#10 Soviet Capitalist on 12.15.21 at 3:25 pm

If felines must show on this blog, can we at least get some tigers? I tend to like those better than kittens.

#11 Not Fooled on 12.15.21 at 3:26 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.”

************
“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

**********

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

#12 erik mtl on 12.15.21 at 3:27 pm

Stock market has been doing great though! Or has it? What are the people’s thoughts on this thread: https://twitter.com/PrestonPysh/status/1470792736626331659

#13 Polecat on 12.15.21 at 3:32 pm

Glad we sold last spring and renting with the unclean masses. Living under the radar and lovin it. And WFH is awesome. All hail Omicron!

#14 Yukon Elvis on 12.15.21 at 3:39 pm

I lived thru 10% a year inflation, 20% interest rates, a .66 cent dollar, and wage and price controls. Today I can envision a .65-.70 cent dollar and 5-10% yearly inflation but I will bet u a bag of mice that mortgage rates never hit 5%. Just can’t see it.

#15 Dogman01 on 12.15.21 at 3:41 pm

Is Canada (Trudeau the LPC and the Quebec’s Desmarais family) more than just the West’s weak partner but are instead engaged in an active campaign to shift into the orbit of the Chinese CCP?
Article here is a must read.
https://nationalpost.com/opinion/terry-glavin-4

https://omny.fm/shows/money-talks-with-michael-campbell/december-11th-episode 6:30-25 Min mark Canada-China. Good stuff , he indicates that Chrystia Freeland took a stand and “either I go or he goes” regarding John Mccallum (as no one seemed sure if John was Canada’s ambassador to China or China’s representative to Canada – good stuff).

Canada does not have a foreign agent registry act….

Corruption.
Willful Blindness.

Huawei will be interesting. Are they just waiting for the 2 Michaels fury to wash away?

The Replacement Jet Fighter:
– Super Hornet is out.
– F35 on the ropes
– Grippen will mean a complete break from the US backed Western Security Alliance.
https://www.youtube.com/watch?v=xW23oTerLJc

Decisions Decisions, Time will tell.

#16 Dolce Vita on 12.15.21 at 3:42 pm

Mood.

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

Today.

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

“London calling to the faraway towns…London calling to the zombies of death”

And to us huddled masses yearning to breathe free, Omicron’s theme song:

One way, or another, I’m gonna find ya
I’m gonna get ya, get ya, get ya, get ya
.
.
.
I will drive past your house
And if the lights are all down
I’ll see who’s around

– Blondie, Seer.

#17 Stone on 12.15.21 at 3:42 pm

Sad. Almost four million square feet of retail space sits – mostly empty – beneath Toronto streets. In the BeforeTimes it contained 1,200 restaurants, shops and services generating $1.7 billion in sales and employing 4,600 people. Tax revenues from those businesses equaled $271 million. So while Chrystia boasted yesterday that “106% of the pre-Covid jobs have come back” there’s no hiding the pain that has befallen entrepreneurs, franchise owners, operators, commercial leasing companies, landlords and thousands of hourly and contract workers.

———

Businesses of the P.A.T.H. Adapt! Adapt! Adapt!

Let’s just hope they at least made hay while the sun was shining to weather the times it isn’t. Preferably in a balanced and globally diversified ETF portfolio.

But they probably, for the most part, didn’t.

Oh well.

#18 Sail Away on 12.15.21 at 3:42 pm

Well, looks like we’ll all just have to muddle through as best we can.

Hopefully folks made hay in the last ten years of sunshine.

Fine cat, Jag!

#19 Dogman01 on 12.15.21 at 3:43 pm

Pretty sure Pierre Poilievre reads this Blog
https://www.youtube.com/watch?v=orGeiX2Dk5o

I suspect Nonplussed….

#20 Winterpeg on 12.15.21 at 3:44 pm

Am going back to work on a casual basis (RN) after retiring in April. One of my motivations is inflation.
Indexing CPP and my pension (not a full pension) does not match the 4.7% rate of inflation. Want to hold off dipping into RSP’s; longevity is in my genes.
Am booster vax’d and ready to go. Manitoba ahead of Ontario in booster vaxing.

Big party at the stadium this evening for the Bombers.
I will avoid the crowds thanks, but happy for them and fans.

0 degrees in Winnipeg today in mid December.
Maybe climate change has some perks.

#21 twofatcats on 12.15.21 at 3:44 pm

Dec 15 Today’s flipped ‘principal residences’

https://housesigma.com/web/en/map?lat=43.368801&lng=-79.748811&zoom=14.92&center=%7B%22lat%22%3A43.12714086175498,%22lng%22%3A-79.2153273862493%7D

https://housesigma.com/web/en/house/XeEn7X6RW4DYrPo8/11685-BURNABY-Road-Wainfleet-40192304

https://www.zolo.ca/st-catharines-real-estate/78-lakeshore-road#sold-history
https://housesigma.com/web/en/house/NkKJ3Jda2J1yd4V6/78-LAKESHORE-Road-St-Catharines-40085135

#22 Wuhan we got y'all in check on 12.15.21 at 3:44 pm

oddly the Omicrom variant is not big news in the U.S.

#23 Eric on 12.15.21 at 3:45 pm

So we can go back and blame Mr. Rogers!?

https://www.wsj.com/articles/SB118358476840657463

#24 Wrk.dover on 12.15.21 at 3:50 pm

#140 Sail Away on 12.15.21 at 11:13 am
I have sketched up a 5×8 unit on offroad axle,
________________________________

Because you are an engineer, I can help.

3500lb torflex axle with the same 12.5 X 33″ tall tires and overall tread width as the tow vehicle. Works excellent here for me, with or without a load.

#25 westcdn on 12.15.21 at 3:56 pm

Another cat picture – I can love them but they can be evil. I have been lucky with them. I remember visiting a pet store and the cats were lining up to me for me to adopt. I left without one though they were cute. I had litters boxes galore that I cleaned – I bought quality so it was not cheap. I bought my girls a sand box which quickly became a litter box. I got rid of it. Then cats liked to bury their scat in my garden. Their owners got my goat.

I am a cowboy with heart. Defense comes first, particularly when it comes to gals. Buying down my debts is large on my radar while I can do it. Do not get me wrong because I will seize opportunity (stealing is not something I do) when it is there.

#26 Felidae on 12.15.21 at 3:56 pm

Fine looking cat there. Regal even.

#27 Tarot Card on 12.15.21 at 3:56 pm

Thanks for the blog Garth
I was letting this virus get to me
Then I read your buddies newsletter maybe not rainbows and unicorns but I think Mr. Pennock made a good point this morning.
Anyway I enjoy the newsletter so thank you for recommending him.

Hope I am allowed to copy from the newsletter

Omicron is much more contagious than Delta. That brings forward the end of the Pandemic. We ARE in the end game. In Q1/22 and somewhat into Q2/22 we will have reached the end. Between those that are vaccinated, those that have been infected, and those who unfortunately died. we should achieve “Herd Immunity”. The game changes. This is from our HERO Ed Hyman of ISI Evercore. We would love to be his Canadian third cousin. He proved that “Pure Research” pays. Particularly for the Investors.

I think the roaring twenties is just getting started
Buy the dips!
The train took in a stop to see the sights time to get aboard before missing out.
Cheers

#28 Millennial 1%er on 12.15.21 at 3:58 pm

Hey garth, we’re not all bad

#29 Faron on 12.15.21 at 4:01 pm

If you believe in technical analysis (i.e. seeing patterns in equity price history that may or may not reflect human and market behaviour) there’s a pretty nice inverse head-and-shoulder setting up on the S&P for a final Santa rally surge another 4% from today’s close… Although, at this rate, today’s close may just be that 4% higher. Wow. What did Powell say???

#30 Dolce Vita on 12.15.21 at 4:02 pm

No. It’s not Canada *.

https://i1.wp.com/electroverse.net/wp-content/uploads/2021/12/gfs_T2ma_eu_fh186-384.gif?ssl=1

Europa’s Cold and Covid weary come to Italia for a respite.

Never seen so many tourists at this time of year in the 7 years I’ve lived here. But Italia, about to bring the hammer down.

Dec 16 – Jan 31:

“A negative test on departure for all arrivals from EU countries. For the unvaccinated, in addition to the negative test, a 5-day quarantine.”

—————–

Avant Noël
https://i.imgur.com/2haZ8EG.png

Joyeux Noël Canada
https://i.imgur.com/mh8RMTe.png

And no, you can’t come to Italia Canada…by then we’ll all be full up with Nordic Noir.

There’s always Nuuk, Grønland…

#31 Bonobo on 12.15.21 at 4:05 pm

What changing climate?

#32 None on 12.15.21 at 4:09 pm

Here, let me:

“Ok Boomer”

#33 Billy Buoy on 12.15.21 at 4:09 pm

The farce continues…

Notice how afraid stocks, oil were when Powell got done talking and the USD fell.

they ain’t do nuthin because the banks OWN them and they can’t let the 1% and banks down.

PERIOD.

Want to see a rally…wait til tomorrow.

#34 OK, Doomer on 12.15.21 at 4:10 pm

Cognitive dissonance is where someone espouses ideas that are completely incompatible, yet the attempt is made to fit them together logically.

One such example, is housing at 10% higher while interest rates double. You can have one or the other, but not both, or not for anything longer than a few months while people burn through whatever funds they can beg borrow or steal to support the unsupportable.

On the other hand, giving people free day care for the kiddies frees up another $1000 month for blowing into a mortgage.

Winston Churchill once said about the Americans: “You can always count on them to do the right thing, but only after they’ve exhausted all other possibilities”

If Churchill had met Trudeau he might have said : “You can always count on Justin to do the wrong thing, but that’s only because he’s passed up every chance to do the right thing.”

#35 SunShowers on 12.15.21 at 4:11 pm

We were not told we were “special and could have anything we wanted.”

We were told that if we worked hard and got a good education in an in-demand field, then we would have a comfortable life.

Well, we worked hard (millennial workers put in on average 7.81 hours per day, as opposed to 7.69 hours for older generations at the time), got the education (we’re the most educated cohort in history), and all we have to show for it is empty pockets and a busted economy, courtesy of the 1% who sold our future for their own profit.

We held up our end of the deal, so we’re going to take what’s owed to us one way or another. People should be thankful it’s by voting.

#36 Shawn Allen on 12.15.21 at 4:12 pm

AND the S&P 500 just spurted 1.6% higher to close at a new record high of 4,710. Apparently investors were aroused by the Fed Chair’s soothing remarks wherein he basically promised not to make any sudden moves.

#37 Dolce Vita on 12.15.21 at 4:13 pm

“We’re reaping the harvest. And we have lost our way.”

We’ve got a Trudeau spawn in Ottawa.

Rampant inflation.

All that’s missing now is a good old fashioned recession just to spice things up.

And to top things off, the “O’ word.

—————–

Doomed to an eternity of:

Death by a thousand cuts.

#38 Dolce Vita on 12.15.21 at 4:15 pm

#22 Wuhan we got y’all in check

You must live in BC.

#39 The West on 12.15.21 at 4:17 pm

Who here would still stand at the podium and have us believe this has not been intentional?

Ah, go back to sleep. You trusted people you shouldn’t have, you consumed all the fear that was required of you and now the consequences of our collective actions have destroyed the future.

“Transitory” Where is the contempt? Where is the outrage? We’ve been contented with narcissism. “We’ve earned it” Go crawl back into your kennels and do as you have been instructed. Its too late.

Our forefathers and your grandkids are ashamed of us. One foot in the grave, the wrath to come.

#40 Damifino on 12.15.21 at 4:20 pm

Well, until the CPC can put forward an electable leader…

#41 Catatonic on 12.15.21 at 4:20 pm

#8 Felix on 12.15.21 at 3:20 pm
LOST DOG

No one cares. Take the sign down.

——————————————————-

Besides, those pesky varmints can’t read anyways!! So they wouldn’t even know they are lost.

#42 Caffeine Monkey on 12.15.21 at 4:24 pm

The other big news today: the US Fed says it’s going to slash bond buying and will hike rates perhaps 3 times next year. So Canada can either follow suit and raise rates too, or not and watch the Canadian dollar plummet.

Rock, meet hard place.

#43 Dog Lover on 12.15.21 at 4:24 pm

Birds killed by cats in Canada:

Estimates presented here suggest a very substantial mortality of birds, with roughly 100-350 million birds killed annually by 5-10 million outdoor cats.

Birds killed by cats in USA:

The most recent estimate of birds killed by cats in the United States (1.4-3.7 billion/year, Loss et al. 2013)

Source: Avian Conservation And Ecology

#44 Krystian Zimoch on 12.15.21 at 4:29 pm

This is a sad post. Marketing dept. of Pfizer is ruling the way the governments shall rule. Is this a new form of government, that we are witnessing now, Pharmocracy in the making? Or is it MedioCracy or Idiocracy (btw. last one is a movie worth watching especially these days).
—————————————————————
106% of the jobs are back, 90% vaccination rate, 1215 daily cases, 22,546 tests performed, 12 more deaths… it really sound like Orwellian reality is coming true while we fight the invisible enemy on all fronts bombarded with news and new variants appearing as scheduled every now and then. It does not matter who wins or looses, just focus on the fight, because nothing else matters. Your kids will fight next variant. Or climate change apocalypse, if that is a better enemy.
—————————————————————–
People say death and taxes are 2 certainities. I’m not sure of the 2nd one anymore. If government can print money at 0.5% annual cost, inflation hitting 5%, 4.5% can be cost imposed on entire nation as tax. They can just print your salary . That’s radical thinking, but with MMT and close to half of Canadians paying zero net tax, we may bump it up with printing to lets say, 75% of us.

Why not? Who will vote for NO TAX FOR FAMILIES?

#45 Getting really tired of needles! on 12.15.21 at 4:32 pm

Ford and accomplices just announced they moved the third dose up to Monday for everyone over 18. I already got mine and asked them to just book me a standing appointment for another booster every two months.

Chrystia said financially the country is in great shape. So anyway 80% of the population is obviously nuts especially the ones who believe her. Also the clowns that won’t get vaccinated.

#46 Doug t on 12.15.21 at 4:32 pm

Everyone gets a trophy
Everyone gets a hug
Everyone gets an A+
Everyone gets their say
Everyone gets a cheque
Everyone must listen to Everyone
Everyone must get a house
Everyone must feel included
Everyone must apologize to everyone
Everyone has to share what they have
Everyone must feel guilty
Everyone has to wear a special t-shirt
Everyone must pay for their carbon fartz
Everyone has lost their collective sh*t

#47 byebyecanada on 12.15.21 at 4:32 pm

Well Garth you took the words out of my mouth. We have more or less been in la la land the past few years and even more so since the pandemic. It seems now that there is no limit to how much money can be printed out of thin air..borrowed..and so on. Governments around the world have gone crazy just throwing money at everything and hence the massive inflation which is just starting.
This is going to end disastrously and a lot of the young people voting now as you say have no clue whats coming. There will be so much gnashing of teeth and whining from this group and many Canadians when the inevitable crash comes sometime in the next 1-3 years.
House prices are already off the charts and yes it can get worse..I know..because Vancouver was nuts 15 years ago and its even more nuts now. I have seen enough darling stocks go up and up and up way beyond any sort of logic..but these parabolic moves always crash in the end and it will happen..just a matter of when now.
Central bankers around the world have also been a big part of this..look at the Fed money supply in the last year..its absolutely insane..off the charts..no wonder inflation is raging..and we hear squat about it in the mainstream media. Why so so many people have faith in these central bankers..they are all completely inept. All they care about is proppping up the stock market at all costs. Now inflation is forcing their hand..good luck navigating a mess they created years ago.

#48 Billy Buoy on 12.15.21 at 4:32 pm

Excuse me Mr. Turner but “WE” screwed up? WE?

Who sets the laws? Who sets the interest rates? Who protects the banks?

If one’s objective in life is to get ahead and an opportunity presents itself, I think most would take it.

Especially when the table is set by the powers that be.

Please do not include me in WE. Look at the people in charge. With the Power to do the right thing.

Disgusting. Totally disgusting. Hope their gates are high enough for the masses one day.

#49 Ballingsford on 12.15.21 at 4:33 pm

#7 Felix on 12.15.21 at 3:19 pm
Beautiful creature.

Not a dogawful burden on the planet.
********
Probably should be jailed.

#50 Waystar Royco Shareholder on 12.15.21 at 4:34 pm

All bad news, but most concerning to me is the fact that 25% of all RE transactions are made by investors. 25%!!

It’s likely most of those transactions are 100% leveraged with the down payment coming from a PR HELOC and the balance coming from a mortgage. How many have 3, 4, 5 or more mortgages?

So effectively, this means there really isn’t a housing shortage from a shelter or housing perspective. There’s a shortage of properties to invest in. First time buyers and move up buyers are competing with these investors and speculators.

Once these investors bail on their properties, or when incentives to invest in RE is removed (ie: HELOC amortization, rising rates, punitive taxes, negative cash flow, etc) there could be a large RE surplus.

Theres a good chance real estate investors and speculators are going to cause a recession in 2023-2024

#51 All lies and manipulated u decide on 12.15.21 at 4:35 pm

Garth no truer wiser words have been spoken.
Man and well needed in time of NUTTSOs at the helm.
When you vote for virtue signaling rather than the hard truth the SWHTF down the road. The free never ending lunch program eventually meets its end.
The ones that aren’t reading this will wish they had. But as they don’t know that they don’t know they will hit the wall. That may require more handouts to calm them and keep the peace. Eventually you are Venezuela.

With Trudunce and Freelunch where’s my cheque book, in power you can bend over and kiss the way we had it and a good country goodbye..
The faster you go up the faster she comes down.
Weeze going up fast lika wocket!!

#52 TurnerNation on 12.15.21 at 4:36 pm

— We already know, control over travel/movements is the name of the game. Surprised, still? Christmastime…

.Ottawa to toughen international travel restrictions as omicron concerns escalate (cbc.ca)


— But the hospital capacity right? Follow the money. More testing = more “cases” = endless lockdowns.

.Toronto Star @TorontoStar Feds to spend more than $1.5B on COVID-19 rapid tests, the Star has learned

[email protected] Additionally, the government will partner with the Crown-owned Liquor Control Board of Ontario to make millions of COVID-19 rapid tests available for free at 660 LCBO outlets in coming days.


— Pension funds and Infrastructure funds own most of the country. Posting this as Fair Comment:

https://canucklaw.ca/omers-and-the-questionable-contracts-with-lifelabs/
“June 23, 2021, LifeLabs received a $66.3 million contract from the Public Health Agency of Canada. It was originally for $28.8 million, but the terms were amended. The company had certainly negotiated other arrangements before, but this was big.
….
Anita Anand used to be the Minister of Public Services and Procurement. In short, it was her job to oversee large purchases made by the Canadian Government. Naturally, this requires a great deal of transparency and integrity. However, things may not be so simple.

#53 Dolce Vita on 12.15.21 at 4:37 pm

Last salvo about the “O” word and the UK.

Watching the affable Doc Campbell on YouTube today.

For the UK he reckons if things keep going on as they are…

(200K Omicron cases today – symptomatic and asymptomatic, 1 MILLION per day end of month)

what struck me the hardest was when he was talking about this:

https://i.imgur.com/54zINsf.png

He said:

“…that might of changed in the last hour or two”

——————

FWIW Canada, at the start the Doc said this:

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

https://youtu.be/pfO8verFP7E?t=37

Hope. Last to Die. You know what to do.

#54 NOSTRADAMUS on 12.15.21 at 4:38 pm

WHITE SMOKE!
White smoke bellowing from the bankers chimney, signals a change in lending policy. I suspect this change in policy will go a long way to scaring the overindebted straight. Who really knows what lurks in there mostly empty heads? Amen Brother.

#55 yvr_lurker on 12.15.21 at 4:38 pm

That was one super-cheery post. Probably my last post, as I will be jumping off the Lion’s gate today, or doing the more honorable Hari-Kari variant of the same…. pardon the pun…

Yes, indeed it is one quelle mess, and who the hell knows what the inevitable omicron wave will bring in during the next two months. From talking to people I know well who do the COVID modeling, it does not look promising at all.

Was reading last night how the Sinovac vaccine provides essentially no protection to omicron. I bet the CCP are fretting about how they are going to keep omicron out of the border containing 1.4Billion unprotected people, given they are hosting the Olympics in February. My prediction is that they will get a massive rebound Omicron wave (back to the origins of where this whole shit-show originated).

It seems a little too early for happy hour, but perhaps today I’ll make an exception.

#56 Ballingsford on 12.15.21 at 4:41 pm

What’s a good squirrel rifle to get from Canadian Tire with scope? Squirrel stew for the next few years.
How many squirrels do I need to make a nice meaty stew in a pot that can handle about 24 cobs of corn.
Plus potatoes and carrots.

#57 Dr V on 12.15.21 at 4:41 pm

Nice kitty

#58 Cheese on 12.15.21 at 4:42 pm

I really don’t want to keep going anymore. Everything is falling apart. Poverty wage, inflation killing any meager savings and investments, a government of idiots.

I was even denied my booster at the hospital today, as I was a week ‘early’. I work in stem cell for dogs sake, let me have my damn shot.

Dog I hate this planet.

#59 Dianne on 12.15.21 at 4:44 pm

thank you Garth for your summaries and comments. This is all so depressing – not just for us (60’s) but our daughter. What future can we expect? I’m thinking that our country will be like Venezuela in a couple of years.

All I can say now is that ‘we did not vote for JT’, yet even with a minority he is still doing/spending whatever he wants. Merry xmas indeed.

#60 Sail Away on 12.15.21 at 4:46 pm

#24 Wrk.dover on 12.15.21 at 3:50 pm
#140 Sail Away on 12.15.21 at 11:13 am

I have sketched up a 5×8 unit on offroad axle,

———

Because you are an engineer, I can help.

3500lb torflex axle with the same 12.5 X 33″ tall tires and overall tread width as the tow vehicle. Works excellent here for me, with or without a load.

———

Thanks! Yes, a 3500 lb axle is the plan as is matching tires and wheels with the tow vehicle and I’ll look into Torflex.

#61 Armpit on 12.15.21 at 4:47 pm

TOO LATE…. GONE ON HOLIDAYS FOR A WHILE. WON’T BE BACK UNTIL ….. WHATEVER!!!!!!

Interesting to read your blog at 11am though….

#62 Love_The_Cottage on 12.15.21 at 4:52 pm

#22 Wuhan we got y’all in check on 12.15.21 at 3:44 pm
oddly the Omicrom variant is not big news in the U.S.
___________
I think back to Trump saying the virus was going to just disappear. It’s not big news in the U.S. today….but it sure seems like a lot of scientists are saying there is a big wave coming.

#63 Brett in Calgary on 12.15.21 at 4:52 pm

The OECD says Canada will be THE laggard in terms of GDP per capita growth between 2030-2060. Read that again… last place.

https://bcbc.com/insights-and-opinions/oecd-predicts-canada-will-be-the-worst-performing-advanced-economy-over-the-next-decade-and-the-three-decades-after-that

#64 All lies and manipulated u decide on 12.15.21 at 4:54 pm

LOVE the kitty pic.
All animals deserve protection and respect. More than some people I know.
We are the custodians of earth and way power than we deserve.
Animal abuse should be severely punish in my view.

#31 Bonobo on 12.15.21 at 4:05 pm
What changing climate?
———————————-
Ahh everything….including Pluto….
Sunspots, solar flairs and volcanoes more than humans. The earth magnetic feature also not even talked about. People have been bullshitted because the peeps in control love control and do believe they are way above most. We are all the same…. Just some minds are buggard from birth. There in lies our real problem on planet nutso. Ulterior motives rule the day my friend.

#65 Editrix on 12.15.21 at 4:55 pm

If my teen kids have a taxing millstone around their necks, I know they will move to a country where they don’t have to wear one.

#66 T-Rev on 12.15.21 at 4:55 pm

You’re 100% correct Garth about reaping what we’ve sown. We’re in deep. Things look bleak, and there are worse monsters lurking just as we appear to be running out of the ammo and the will to fight. But…..

You can’t give up. Neither can I, or anyone else, who still believes, nay KNOWS, that the path to the greatest prosperity for all is individual liberty and meritocracy, with smart regulation on businesses and a level legal playing field for all with clear rules that are ignorant of skin color, gender, orientation, or all those other things that don’t matter. Because they don’t. What matters is food, shelter, individual purpose, liberty, equality before the law, and economic opportunity for all.

The Western experiment hinges on people like us continuing to fight and educate, so that classic liberalism isn’t lost to the history books. Don’t give in. Don’t give up. Don’t get down. Hope is the last to die, and without it all is lost. This too will pass, but only if we refuse to give in to the Big Government, nascent communism that is taking hold. Our children’s future depends on it, or they’ll be speaking Russian, Chinese, or worse, Orwellian Newspeak.

#67 C M on 12.15.21 at 5:00 pm

“Meanwhile we are governed by people obsessed with diversity, inclusion, social justice issues, apologies, reparations and equality. All important. But somehow less important than shelter, food and health”

THIS. With the majority of voters being home owners that are comfortably off and rising house prices being of no consequence to them are these now our top priorities? “I’m alright, Jack”

Can’t help but think unrest is on the horizon if real issues of rising costs of living and precarious shelter situation goes unaddressed for the dire emergencies they are. Urgent action is needed and the government is nowhere to be found. Except for the oldie wonks, who got a bailout from their ineligibly claimed bailouts.

Last election was the first one I’ve felt completely despondent by every party platform. There was no one to vote for – all of them completely out of touch. Maybe I’m just growing up.

#68 faron on 12.15.21 at 5:01 pm

That’s a plump, healthy looking tuxedo cat. Fat from spring mouse hunting ready to loll away some hours in the shade on a warm day.

Seems a bit leery of The Jaguar though. Understandable, she might start preaching from an Andy Ngo screed at any second. Luckily real cats are fast. No intellectual harm shall come to that particular feline.

#69 All lies and manipulated u decide on 12.15.21 at 5:02 pm

#5 Lee on 12.15.21 at 3:17 pm
“And we have lost our way.” Surely it’s not that bad?
————————————————-
May I ask what you do for a living and where you live sir?
Age would be helpful then I would have a full profile on that question.

#70 Annek on 12.15.21 at 5:02 pm

It is so depressing to live in Canada these days. Wish we had moved to the US years ago. We would have been in the 1% there, with high salaries ,cheap homes etc. ( We are both professionals) We had job offers there. I resisted because I was proud of the country we lived in. When I read about the mess T2 and what the liberal party has created, I am dismayed. The worst part was that he was re elected in September to cause more damage to Canada. The PC party should have chosen a celebrity , as this is how Canadians vote. It may have changed the outcome of this last election.
My advice to young educated people is to get out of Canada.

#71 Pandemic Is Over on 12.15.21 at 5:04 pm

It’s very convenient for the government(s) to blame the pandemic for all their mistakes and screw-ups… it’s like a war, but much better. Also provides perfect tool to tighten the control and shut up the opponents.

Therefore, the virus must continue. There are 9 more vacant Greek letters after Omicron, and then they can switch to Cyrillic or Chinese characters.

#72 45north on 12.15.21 at 5:16 pm

So today we have 1991-style inflation, 2.5% home loans and the price of a home (benchmark, national) is $790,600. In the GTA the average property is valued at $1.1 million. Household debt – like Canada’s indebtedness – is off the charts. Real estate values jumped 25% across the nation in the past year, wages are up 2% and money is devaluing at the rate of almost 5%.

don’t worry, it’s JustinFlation

Justin Trudeau wanted to be Prime Minister and he is. Which means he has to put the brakes on inflation and debt. He hasn’t and he won’t. He is like Neville Chamberlain who failed to recognize the danger of Nazi Germany and failed to prepare the country to counter the danger. Canada right now needs to recognize the economic danger. The budget won’t balance itself. The economy won’t manage itself.

We have to prepare for tough times.

#73 cramar on 12.15.21 at 5:22 pm

Makes you wonder. Official inflation is under 5%. In reality it is double (or more)! Jobs are now at 106%, yet countless thousands of jobs are lost in shuttered stores, hospitality, and travel industries. These numbers just don’t add up. We are being duped and lied to!

Wouldn’t it be great to have a government and leaders who told people the REAL truth? Who say that there is no way to address the issue without financial pain. No more government handouts. No more more for social justice issues or reparations (until more important issues are addressed). The woke culture has to understand that you cannot get what you want when the ship is sinking.

We have lost our way indeed.

#74 Leichdiener on 12.15.21 at 5:30 pm

Go to the City of Toronto pandemic data on the website. Nothing is happening. Am I missing something?

#75 POKEL on 12.15.21 at 5:35 pm

#50
“So effectively, this means there really isn’t a housing shortage from a shelter or housing perspective. There’s a shortage of properties to invest in. First time buyers and move up buyers are competing with these investors and speculators.”

Well said.

Thank you CBs for interest rate suppression and moral hazard.

#76 crowdedelevatorfartz on 12.15.21 at 5:40 pm

@#46 Don’t

Everyone…..

+++
Good one.

#77 Nick on 12.15.21 at 5:40 pm

Everyone buy house in Lower Brainland with 90% leverage (mortgage) and earn 1000% return on your downpayment in 5 years. Bang!!

Hong Kong visas open; 2000% return.

#78 Bonobo on 12.15.21 at 5:40 pm

I cannot wait until oil per barrel climbs up to $150-$200. The millennials are going to be squirming wondering how they voted in the marxist/socialist guavament of Justin/Jagmeet.

History will not look kindly on your choice millennials.

Trump is coming back and there is nothing that will stop this. Hopefully Canada has the balls to vote for someone like Pierre Poilievre next time with an overwhelming majority. If we don’t we are hooped.

#79 Do we have all the facts on 12.15.21 at 5:42 pm

Chrystia seems to have forgotten that almost two years have passed since Covid 19 arrived.

In December 2019 real GDP in Canada, expressed in chained 2012 Canadian dollars, was $2.0 trillion.

In April 2020 real Canadian GDP plummeted to $1.66 trillion before recovering to $2.0 trillion in December 2021.

We may have recovered to pre Covid levels but the Canadian economy is over $80 billion behind where it would have been without Covid.

The same can be said fo employment. At a absolute minimum Canada would have added 380,000 employees to their labour force over the past two years. Recovering to 2019 employment levels is a positive sign but the Canadian economy has a way to go to fully recover the 380,000 jobs lost and to create an average of 200,000 new jobs per year into the future.

The impact of lost Government of Canada revenues due to a decline in real GDP was totally glossed over yesterday. Approximately $20 billion in GOC revenue was permanently lost over the past two years and the impact of this loss will be carried forward into the future.

Acting as if inflation had no impact on nominal Canadian GDP and GOC revenues in 2021 was just plain deceitful and must be challenged.

Clearly we are facing a tough enough road ahead without having our Government digging potholes.

#80 Sail Away on 12.15.21 at 5:44 pm

Pavlov was having a beer at the bar when the phone rang.

He jumped up and ran out, yelling: ‘Oh crap, I forgot to feed the dogs!’

#81 Yukon Elvis on 12.15.21 at 5:53 pm

Doesn’t matter what financial disasters befall us. It will be Covid’s fault not T2’s fault. He could do unspeakable things to an aardvark in a dark alley and still be re-elected cuz giving away free stuff trumps all. And he’s gonna change the weather and save the planet in his spare time. No one can beat that.

#82 All lies and manipulated u decide on 12.15.21 at 5:55 pm

#72 45north on 12.15.21 at 5:16 pm
———————————–
Justin has never run a lemonade stand.
Who voted for it?
Under another name i called this shit show a long time ago here….No one listens. Most cant understand the big pic. That’s how nations are destroyed. Currency devaluation is #1 on the shit list.

#83 Roial1 on 12.15.21 at 5:55 pm

#69 Annek on 12.15.21 at 5:02 pm

My advice to young educated people is to get out of Canada.
_______________________________

R-I-G-H-T!
Move to the country that may decide to elect a would be
dictator and has MANY more guns than people.

What an ambition.

Is money really that impressive over a SAFE and I must say GOOD, life here in Canada???

Just asking.

#84 BillyBob on 12.15.21 at 5:58 pm

#68 faron on 12.15.21 at 5:01 pm
That’s a plump, healthy looking tuxedo cat. Fat from spring mouse hunting ready to loll away some hours in the shade on a warm day.

Seems a bit leery of The Jaguar though. Understandable, she might start preaching from an Andy Ngo screed at any second. Luckily real cats are fast. No intellectual harm shall come to that particular feline.

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

Do we have a faux faron now using lower caps? The weak attempt to politicize a pet picture seems a stretch even for the original. The level of so-called humour is about right though. Tough to call.

Star is a beauty, Jag. Look at that expression! Empress of all she surveys.

Like all cats.

Don’t know if you’re still in tropical climes but hopefully they won’t slap yet more restrictions on travel (guess where I would tell them to stick their “advisory”…) I have yet to hear an ounce of science supporting closing borders to a variant already very much present.

From tonight’s presser with Intergovernmental Affairs Minister Dominic Leblanc:

“Traveling abroad could also expose Canadians to people living normally. ‘We are asking Canadians to be cautious.’ Leblanc said. ‘Experiencing basic freedoms and common sense, even for a short time, could be a real shock to many Canadians, and could undermine the effects of two years of brainwashing and fear mongering.'”

Well, ok, maybe I’m paraphrasing a bit but it was something like that.

#85 Nonplused on 12.15.21 at 5:58 pm

Is it just me, or has this blog gone to the cats? Oh well, symbolic of the times I guess.

Elon Musk claims he will pay more income tax this year than any American in all of history ever has. I think he probably has his numbers right. Elizabeth Warren still called him a “freeloader”. So he called her a “Karen”. I’ve got to admit the boy has style.

It was also a timely opportunity for the article to point out that 25% of American taxpayers pay about 85% of the taxes. That’s worse than here, but we don’t have many Musks. Canada is not a competitive place to do international business. It also restated the oft-mention fact that 40% of Americans (number is the same for Canada I believe) don’t pay any income tax at all.

So what happens if Warren gets her wish and the rich pay “their fair share”? Only two ways I see to do that; either they get a huge tax reduction or the rest of us are going to have to pay a lot more. Multiples more than we do now.

But it won’t happen, because there is nothing left to tax. We are at peak tax already. All of Freeland’s tax increases will result in no new revenue, no matter how onerous they are. You just can’t milk a dead cow.

It sort of reminds me of the kid’s movie “Monster’s Inc.”, where in desperation some of the monsters are trying to invent a machine to suck more screams out of the kids.

#86 tkid on 12.15.21 at 6:09 pm

It’s clear that Canada will continue to run up debt until it defaults on that debt. The consequences are unthinkable and inevitable.

#87 T-Man on 12.15.21 at 6:12 pm

We are all equal, but some are more equal than others.

#88 Don Guillermo on 12.15.21 at 6:15 pm

#43 Dog Lover on 12.15.21 at 4:24 pm
Birds killed by cats in Canada:

Estimates presented here suggest a very substantial mortality of birds, with roughly 100-350 million birds killed annually by 5-10 million outdoor cats.

Birds killed by cats in USA:

The most recent estimate of birds killed by cats in the United States (1.4-3.7 billion/year, Loss et al. 2013)

Source: Avian Conservation And Ecology
**************************************

I suppose if a “Dog Lover” is truly concerned about cats, avian, conversation and ecology then they’d also be concerned about dogs, n’est ce pas?

” it takes around 0.84 hectares of land to feed a medium-sized dog, whereas the running of an average SUV equates to the use of around 0.41 hectares, assuming it covers around 10,000km. For a bit of perspective, the average ecological footprint of a Vietnamese citizen is around 0.76 hectares.”

#89 NOSTRADAMUS on 12.15.21 at 6:19 pm

UNBELIEVABLE GYMNASTICS.
Garth in today’s blog you reference LePage forecasting that houses will cost 10.5% more by this time next year. If that’s true, GTA properties will cost $110,000 more. I really want to understand the gymnastics it took LePage to make a prediction like that. But then again, I have never known a realtor worth his salt to ever entertain the idea that housing could decline. Perhaps if some of the newer agents wandered down the real estate hallway and talked to some of the older grey beards about what happened to real estate values in 1989. The newer agents disbelief, I am sure would put a doubting Thomas to shame. Amen Brother.

#90 Michael in-north-york on 12.15.21 at 6:29 pm

#35 SunShowers on 12.15.21 at 4:11 pm

We held up our end of the deal, so we’re going to take what’s owed to us one way or another. People should be thankful it’s by voting.
===

Basically, you will gain access to an empty vault that used to hold treasures. Enjoy your coming disappointment.

#91 All lies and manipulated u decide on 12.15.21 at 6:45 pm

#85 Nonplused on 12.15.21 at 5:58 pm
——————————————-
Ironically given the times.. if you put up a pissed off cat against a pissed dog there’s no contests. Those little fur balls are tornadoes. lol

#92 Chameleon on 12.15.21 at 6:49 pm

That is a good looking cat.

Like in a tuxedo. But also with a giant white heart under his head. Nice.

On another note…I have the TV on…

Drug Stores doing symptomatic Covid testing now and apparently there is no risk to shoppers and employees? Optional but mandated by government for drug stores? People are confused.
Reads like a spreader effort to me.

I’m guessing this will not help drug store retail sales.

Also, read that Omicron is actually less contagious than Delta. 4 vs 6. Boosters now after 3 months.

#93 Tom Jones on 12.15.21 at 6:51 pm

Garth, I hear you and agree. But all this crying, without actually presenting a solution isn’t productive. Give it a try and you’ll quickly realize there is no easy answer or quick fix for the government. What do you expect?

I guess I’ve just come to the conclusion that we’re all screwed and complaining about it seems less worth my time. Perhaps you value yours differently.

#94 effron on 12.15.21 at 6:55 pm

84 BillyBob on 12.15.21 at 5:58 pm

I was returning the favour to The Jaguar.

It’s unfortunate that a glorified Twitter troll like Ngo has managed to fearmonger its way into certain political circles occupied by fearful conservatives who like to shoot protestors. But, such is lyfe.

#95 SmartyPantsOnFire on 12.15.21 at 6:56 pm

#35 SunShowers on 12.15.21 at 4:11 pm

We held up our end of the deal, so we’re going to take what’s owed to us one way or another. People should be thankful it’s by voting.

=====

And how’s that working out for you? Besides, the 1%ers didn’t just buy Smith & Wesson’s stock!

#96 Armpit on 12.15.21 at 6:56 pm

Two things I learned….

Mixing Politics and religion is never a good thing.

Mixing Dogs and Cats is never a good thing.

#97 Concerned Citizen on 12.15.21 at 6:57 pm

Putting this on the kids and their participation trophies is absurd. It’s the central bankers (most of them boomers) that are mostly to blame. They’ve kept real interest rates negative for over a decade in order to inflate the value of their homes and stock portfolios to unprecedented bubble levels. The level of greed and manipulation in our so-called “free market” economy is off the charts.

Now more of them have started to realize they’ve massively screwed up society – the kids can’t afford to live. Heavens, who is going to serve them their morning lattes? The horror! But rather than take any pain themselves, they’re in the process of screwing workers/savers/young people yet again by inflating away/monetizing the debt. I don’t know how much more evidence you need Garth that they’re not going to lift a finger against inflation. U.S. PPI came in just under 10% this year, and Powell’s response was to buy only $60B per month in assets instead of $90B per month. Nary an interest rate increase in sight.

Please. You can’t say with a straight face the central bankers care one iota about price stability. It’s the furthest thing from their minds. They’re more worried about what the S&P 500 is doing and how many millions their homes are worth this month compared to last.

As for Canada, young people can expect a far worse standing of living than their parents enjoyed. How many middle class families currently live in neighbourhoods they couldn’t possibly afford if they hadn’t purchased property a 5-10 years ago? Canada will hollow out going forward – we’ll educate our young, and many of them will move abroad in order to salvage a real life and income (rather than working 16 hours a day until they drop dead just for the privilege of being house poor), and then come back for the free medical care in their later years.

All because central bankers didn’t want the stock markets to go down.

What a country.

#98 Defeat on all fronts on 12.15.21 at 6:58 pm

The people, organizations, and governments in charge of fighting our “war on a virus” have lost in devastating fashion. Far from a successful global effort to stop a virus, these ruling factions and power centers have failed the billions of people drafted into this war without the consent of the governed. From Los Angeles to Sydney to Moscow to Rio to New York to Paris to London and everywhere in between, almost every government on every level across the world, with very few exceptions, committed incredible harm against their populations in the name of stopping a virus. And they have absolutely nothing to show for it.

#99 Penny Henny on 12.15.21 at 6:58 pm

Just wondering if any others have been noticing this?
Ontario reports 1,808 cases today on 44,726 tests.
The math says that is equal to a 4.04% positivity rate, BUT they say it is equal to over 6%.
Maybe I’m still doing the old math and they are doing the science math. Or maybe even Dolce math.
Either way they’ve been bumping the positivity rate for well over a week now.

#100 GOVT FIghts the virus and lose every battle on 12.15.21 at 7:02 pm

The people, organizations, and governments in charge of fighting our “war on a virus” have lost in devastating fashion. Far from a successful global effort to stop a virus, these ruling factions and power centers have failed the billions of people drafted into this war without the consent of the governed. From Los Angeles to Sydney to Moscow to Rio to New York to Paris to London and everywhere in between, almost every government on every level across the world, with very few exceptions, committed incredible harm against their populations in the name of stopping a virus. And they have absolutely nothing to show for it.

#101 Quintilian on 12.15.21 at 7:16 pm

#70 Annek:
“The PC party should have chosen a celebrity , as this is how Canadians vote. It may have changed the outcome of this last election.
My advice to young educated people is to get out of Canada.”

Very unlikely a celebrity, would associate themselves with such a group of bumpkins.

Most of you rednecks seem to overlook the fact that if the Cons want to govern a forward-looking progressive country as Canada, they need to change their platform.

However, if they did, they would no longer be the PC party.

As for the young educated people this is the best country on the planet.

Please do take your own advice and leave.

People like you are unappreciative, and furthermore you are, at worst borderline seditious, at best like a fair-weather friend, who deserts at the first sign of trouble.

#102 Penny Henny on 12.15.21 at 7:17 pm

#46 Doug t on 12.15.21 at 4:32 pm
Everyone gets a trophy
Everyone gets a hug
Everyone gets an A+
////////////////

I’m the last of the Boomer generation but I do remember getting a participation ribbon on Playday at school.
But that was when the teachers could still fail a kid or have them skip a grade. Not so much now, for either, sad.

To Stone, over 32% YTD

#103 Nonplused on 12.15.21 at 7:19 pm

#19 Dogman01 on 12.15.21 at 3:43 pm
Pretty sure Pierre Poilievre reads this Blog
https://www.youtube.com/watch?v=orGeiX2Dk5o

I suspect Nonplussed….

———————————-

Not me but I am beginning to like the guy.

The fact is that money isn’t real, it is just a measure of things that are real. So if you introduce more money without there being any more real things, prices go up. It’s pretty simple really. But Freeland won’t get it.

#104 WTF on 12.15.21 at 7:24 pm

“Millennials were crawling under coffee tables and drooling on themselves.”
—————————————————————
Ha, then they stood up under the table, smashed their little craniums and now at voting age, here we are….A political system full of those “special people”

WE (the unwashed) didn’t vote for PM Metrosexual Messiah as leader, his fellow Progressive Millennial toadies in the Lib party did that all by themselves.

Winston Churchill on Capitalism and Socialism: “The inherent vice of capitalism is the unequal sharing of blessings; the inherent virtue of socialism is the equal sharing of miseries.”

#105 Penny Henny on 12.15.21 at 7:24 pm

Ontario will soon be issuing free Covid tests through the LCBO.
So all these tests going out to asymptomatic people will no doubt lead to higher case count and therefore restrictions.
As TN would say, what about the hospital capacities peoples?

#106 Catalyst on 12.15.21 at 7:24 pm

The rampant inflation is hurting the oldies the most on fixed income who flock to the polls to vote liberals. Looks good on them. Young people have bargaining power like I’ve never seen for wages right now as it turns out you need to pay people to do things for you. The left leaning youth vote dipper not lib. The only real shame is that the oldies are easily distracted. They firmly believe in blaming Ford, supply chains, or greedy businesses… anything but dear leader.

#107 Ponzius Pilatus on 12.15.21 at 7:33 pm

#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?
——————
For those who wanna move to warmer climes down south.
Personally, I’d rather deal with floods and fires, than with those nasty, unpredictable Tornadoes.

#108 fishman on 12.15.21 at 7:36 pm

Crying without presenting a solution is non productive? Trust me Tom Jones, I take it your still a believer so you wouldn’t want to here my solutions. For now lets start with “If we lost Cronkite we lost middle America”, canuckelized to, “If we lose the Gartho we lose middle Canada. I’m giddy with excitement & fear.

#109 Ponzius Pilatus on 12.15.21 at 7:39 pm

Tornadoes, Hurricans, Floods and Fires and the States.
Glad to be safe and sound in the Lower Mainland.
Looking out the window, beautiful snow dusted mountains.
Very few better places to live.

#110 DON on 12.15.21 at 7:44 pm

#35 SunShowers on 12.15.21 at 4:11 pm
We were not told we were “special and could have anything we wanted.”

We were told that if we worked hard and got a good education in an in-demand field, then we would have a comfortable life.

Well, we worked hard (millennial workers put in on average 7.81 hours per day, as opposed to 7.69 hours for older generations at the time), got the education (we’re the most educated cohort in history), and all we have to show for it is empty pockets and a busted economy, courtesy of the 1% who sold our future for their own profit.

We held up our end of the deal, so we’re going to take what’s owed to us one way or another. People should be thankful it’s by voting.

******

What about all the mills on their phones while working…

#111 Ponzius Pilatus on 12.15.21 at 7:47 pm

Fauci, the worlds most eminent expert on COVID, announced today that Boosters from all Vaccines will get you through the winter, and hopefully end the pandemic.
So get your Boosters, folks

#112 DON on 12.15.21 at 7:51 pm

#68 faron on 12.15.21 at 5:01 pm
That’s a plump, healthy looking tuxedo cat. Fat from spring mouse hunting ready to loll away some hours in the shade on a warm day.

Seems a bit leery of The Jaguar though. Understandable, she might start preaching from an Andy Ngo screed at any second. Luckily real cats are fast. No intellectual harm shall come to that particular feline.

**********

Shots fired!

Expect an opposite and equal reaction.

#113 Statsfreak on 12.15.21 at 7:53 pm

Well, its official.
Cat pictures on the blog.
The end of our world is most definitely nigh.
….heavy sigh…

#114 Ponzius Pilatus on 12.15.21 at 7:53 pm

#22 Wuhan we got y’all in check on 12.15.21 at 3:44 pm
oddly the Omicrom variant is not big news in the U.S.
—————
Why should it be?
800,000 + deaths from COVID is barely making the news.

#115 Alexandre Allaire on 12.15.21 at 7:58 pm

The fifty square miles of London undoubtedly contain more wealth than within the same space anywhere else exists. Yet were productive labor in London absolutely to cease, within a few hours people would begin to die like rotten sheep, and within a few weeks, or at most a few months, hardly one would be left alive. For an entire suspension of productive labor would be a disaster more dreadful than ever yet befell a beleaguered city. It would not be a mere external wall of circumvallation, such as Titus drew around Jerusalem, which would prevent the constant incoming of the supplies on which a great city lives, but it would be the drawing of a similar wall around each household. Imagine such a suspension of labor in any community, and you will see how true it is that mankind really live from hand to mouth; that it is the daily labor of the community that supplies the community with its daily bread.

Progress & Poverty by Henry George 1879

#116 AACI Homedog on 12.15.21 at 7:58 pm

13…polecat…
So glad you are doing so well. After all, it’s all about you…

#117 Stone on 12.15.21 at 8:01 pm

#35 SunShowers on 12.15.21 at 4:11 pm
We were not told we were “special and could have anything we wanted.”

We were told that if we worked hard and got a good education in an in-demand field, then we would have a comfortable life.

Well, we worked hard (millennial workers put in on average 7.81 hours per day, as opposed to 7.69 hours for older generations at the time), got the education (we’re the most educated cohort in history), and all we have to show for it is empty pockets and a busted economy, courtesy of the 1% who sold our future for their own profit.

We held up our end of the deal, so we’re going to take what’s owed to us one way or another. People should be thankful it’s by voting.

———

You sound gullible. And stupid.

Do you want to buy some bitcoin? I promise it’ll be a good deal.

#118 yvr_lurker on 12.15.21 at 8:03 pm

Didn’t jump off the Burrard bridge as I couldn’t get there owing to the Extinction Rebellion group glueing themselves to the bridge tarmac again….

I think Ponzius in #110 has a good angle and fits well with what I heard today… hopefully omicron will outpace Delta and just rip through the population but bring only mild disease to those who have had boosters (however, if you are unvaxxed it will not be smart)….Then, with so many having antibodies to it there will hopefully be no severe variant (bringing bad illness like Delta) left to dominate the landscape….. and this will all end… so it is like put the plywood on the windows, weather the incoming storm, resign yourself to likely getting some mildish version of this and maybe we will all be okay in the spring.. But everyone please get your boosters and just follow Fauci

#119 Faron on 12.15.21 at 8:10 pm

#111 DON on 12.15.21 at 7:51 pm

#68 faron on 12.15.21 at 5:01 pm

She took a dig when Garth graced his blog with our Basset. I have now returned the favour. Luckily, she has a sturdy (as a Tamarisk in a Palm Springs breeze) conservative pilot to defend her.

#120 Linda on 12.15.21 at 8:16 pm

Star looks like one well fed kitty. Barn cats keep the mice to a minimum:)

At least our government didn’t try to tell us that inflation had dropped. Still think it is understated. We just received our home insurance renewal. Up 10% from last year & not because we made any claims. Grocery costs are up substantially as anyone who purchases them is well aware. Various service providers have upped their fees by 5 to 6 percent on average. Now the vehicle insurance is actually down slightly – maybe 1% – from last year, but that reflects the much lower usage due to not commuting DT on a daily basis. Utilities have been forecast to increase & I’m expecting an increase in property taxes for 2022. The virus continues to make waves; we plan to get our booster shot tomorrow since more than six months have passed since we got our second dose. Not sure how long we can keep on bailing out the lifeboat before it sinks!

#121 WTF on 12.15.21 at 8:22 pm

#93 Tommy Boy “Garth, I hear you and agree. But all this crying, without actually presenting a solution isn’t productive. Give it a try and you’ll quickly realize there is no easy answer or quick fix for the government. What do you expect?

I guess I’ve just come to the conclusion that we’re all screwed and complaining about it seems less worth my time. Perhaps you value yours differently.

————————————————————-
First you compare a fact based informative free screed to “crying”? Then a lecture to a former ELECTED Government Minister “to give it a try?

Then you inform that complaining “isn’t worth your while” and intimate GT doesn’t value his time, while reading, commenting, and criticizing on his blog.

You are a Passive Aggressive sanctimonious jerk that couldn’t hold his briefcase.Shoo

#122 Mr Fox on 12.15.21 at 8:26 pm

#112 Statsfreak

Why? They are both amazing creatures that should be loved and defended from bad people. And even if the cats are more ignorant, they don’t love their humans (read “slaves”) less than the dogs.
Love your pets and they will love you back even more.

#123 Victor Maitland on 12.15.21 at 8:29 pm

Yes, the millennials are the first generation to vote in a spendthrift Trudeau. Never happened before.

T1 was a flaming fiscal prude neocon compared with his boy. – Garth

#124 Nonplused on 12.15.21 at 8:29 pm

#35 SunShowers on 12.15.21 at 4:11 pm

We held up our end of the deal, so we’re going to take what’s owed to us one way or another. People should be thankful it’s by voting.

————————————–

Sounds like someone who showed up late to the party and is mad because all the beer is gone.

The world doesn’t owe you anything sunshine.

#125 Dragonfly 58 on 12.15.21 at 8:30 pm

Sunshowers, # 35, you took the words out of my mouth !

#126 Mr Fox2 on 12.15.21 at 8:30 pm

When you write a message and it doesn’t appear, know that you are banned and it’s time to come up with another username and password. Another step of precaution is to post messages through VPN, then there’s a chance that the messages that are inconvenient to mr Garth (i am not talking about any insulting or bad behavior messages, just inconvenient) will appear on this blog. Other than that, no chance. Right mr Turner? So much for having different opinions…

I only ban sneaky people. – Garth

#127 Dragonfly 58 on 12.15.21 at 8:33 pm

And you can say much of the same for many of the yougest boomers.

#128 Ponzius Pilatus on 12.15.21 at 8:52 pm

Canada is imposing travel restrictions again.
And they should, I say.
To the snowbirds who were gloating about baking in the sun and drinking cheap rum and tequila.
I hope you don’t ask the Govenment that you despise so much, to bail you out.
Ok.

#129 Dog Lover on 12.15.21 at 9:05 pm

#88 Don Guillermo on 12.15.21 at 6:15 pm

SUVs were the second largest contributor to the increase in global carbon emissions from 2010 to 2018

Last year, the International Energy Agency made a finding that stunned even its own researchers. SUVs were the second largest cause of the global rise in carbon dioxide emissions over the past decade, eclipsing all shipping, aviation, heavy industry and even trucks, usually the only vehicles to loom larger than them on the road.

Change in global emissions by sector (in MtCO2)

Power (1405)
SUVs (544)
Heavy industry (365)
Trucks (311)
Aviation (233)
Shipping (80)
Other cars (-75)

#130 truefacts on 12.15.21 at 9:10 pm

#35 Sunshowers…
“we’re the most educated cohort in history” (Millenials)
________________________________________
I agree in part – previous generations screwed over millenials … to a point.

But “most educated” is suspect if by this you mean they went off to university and got some useless arts degree. Young people in trades seem to be doing okay – same with those who studied business, engineering, computer science, …

When Boomers grew up, a degree meant something and they steered their kids in that direction – but university these days is 4 years of expensive indoctrination and support for faux social justice issues.

#131 Barb on 12.15.21 at 9:17 pm

#4 Turner Nation
“…It’s been said that the goal of al this is to Bankrupt all the Former First World Countries. ”
——————————–

Isn’t that what Maurice Strong promoted, albeit quietly?

#132 DON on 12.15.21 at 9:25 pm

#108 Ponzius Pilatus on 12.15.21 at 7:39 pm
Tornadoes, Hurricans, Floods and Fires and the States.
Glad to be safe and sound in the Lower Mainland.
Looking out the window, beautiful snow dusted mountains.
Very few better places to live.

********

Lots of earthquake activity on the west coast of North America.

#133 Grow Up Pal on 12.15.21 at 9:30 pm

#35 SunShowers on 12.15.21 at 4:11 pm
We were not told we were “special and could have anything we wanted.”

We were told that if we worked hard and got a good education in an in-demand field, then we would have a comfortable life.

Well, we worked hard (millennial workers put in on average 7.81 hours per day, as opposed to 7.69 hours for older generations at the time), got the education (we’re the most educated cohort in history), and all we have to show for it is empty pockets and a busted economy, courtesy of the 1% who sold our future for their own profit.

We held up our end of the deal, so we’re going to take what’s owed to us one way or another. People should be thankful it’s by voting.

———————————————————–

This is BS. Sorry you haven’t gotten where you need to get to, but I have a whole team of people, 41 strong, who make between 95 and 275k. All very much livable incomes. Median age is around 40, with 50% of them being millennials. Median income around 140k.

We can not find enough people to fill 100K+ jobs. Have one opening today, posted for WFH North America. Requires 10 years experience and bachelors, 165K on target, had 4 candidates apply, none of which were interesting.

Not everyone is going to make it, 20/50/100 years ago there were people making less then the median, and there have always been people required to do menial jobs. Clearly you are not one of them, but if you know any talent that wants to work slightly more then 7.8 hours per day, is personable, can communicate and cherry on top is educated, I can put them on a path to make 125K tomorrow.

FWIW I have less education (HS only) then my boomer dad, make far more then he did at same age, live a life he could only dream of…. and that goes for all my friends. Maybe that’s the issue, you need new friends. You seriously don’t know anyone under 42 that is crushing it? Jesus that is sad, this world is full of millennial entrepreneurs doing amazing things. Must suck to be on the outside looking in.

#134 crowdedelevatorfartz on 12.15.21 at 9:35 pm

@#100 Quinty’s Questionable Candidate

“Very unlikely a celebrity, would associate themselves with such a group of bumpkins.”

++++

What the hell….
It worked for the Liberals…..

Or perhaps you consider Trudeau’s leadership a result of his intellectual prowess and not his tailor made suits and handpicked sockz?

#135 crowdedelevatorfartz on 12.15.21 at 10:04 pm

@#127 Smog Lover
“SUVs were the second largest cause of the global rise in carbon dioxide emissions over the past decade, eclipsing all shipping, aviation, heavy industry and even trucks, usually the only vehicles to loom larger than them on the road.”

+++++

Shhhh.
Don’t tell Petrol Ponzie that SUV’s are worse than Ford F-150’s….
He’s been flogging that F-150 mule for years…..

#136 Don Guillermo on 12.15.21 at 10:04 pm

#127 Dog Lover on 12.15.21 at 9:05 pm
#88 Don Guillermo on 12.15.21 at 6:15 pm

SUVs were the second largest contributor to the increase in global carbon emissions from 2010 to 2018
*************************

You missed the whole point.

#137 Sail Away on 12.15.21 at 10:08 pm

#35 SunShowers on 12.15.21 at 4:11 pm

We held up our end of the deal, so we’re going to take what’s owed to us one way or another.

——–

#123 Dragonfly 58 on 12.15.21 at 8:30 pm

Sunshowers, # 35, you took the words out of my mouth !

And you can say much of the same for many of the yougest boomers.

——–

Since the things good parents teach their kids have clearly not been taught to you, the school of hard knocks will have to do it, and it’s probably already started.

The world is not a kind place. The best advice is to learn from those who know. There is no faster way to bury yourself than an entitled attitude.

#138 devore on 12.15.21 at 10:36 pm

Meanwhile we are governed by people obsessed with diversity, inclusion, social justice issues, apologies, reparations and equality.

Oh, this is so incorrect. We are WAY past equality. Equality means you get treated the same as everyone else. But no one wants to be treated the same as everyone else, everyone wants to be special. You can’t be special when you’re equal.

Erase “equality” from your vocabulary, and replace with “equity”, that nebulous undefinable idea that enshrined perpetual victimhood into law.

#139 Ponzius Pilatus on 12.15.21 at 10:44 pm

#130 DON on 12.15.21 at 9:25 pm
#108 Ponzius Pilatus on 12.15.21 at 7:39 pm
Tornadoes, Hurricans, Floods and Fires and the States.
Glad to be safe and sound in the Lower Mainland.
Looking out the window, beautiful snow dusted mountains.
Very few better places to live.

********

Lots of earthquake activity on the west coast of North America.
——————
Agree,
But you get a good one, and then you can relax for 300 years.
Not like these Tornadoes, that come out of nowhere, every year, just when you cuddle up with your mistress.

#140 TMac on 12.15.21 at 10:55 pm

Can’t wait for all the vaxed to become anti-vax because they questioned the effectiveness of a third dose when we were told the two doses would be enough to end this thing.
Omicron is weak and very transmissible but, Pfizer wants a higher share price.
Seems like we are owned by these pharma corps now.

#141 meslippery on 12.15.21 at 11:04 pm

Well having a good jobs with great pay and benefits plus defined pensions, gave way to free trade and the gig economy. We are dirt poor and will never afford a house in Scarborough like Dad after he dropped out of high school and got a great paying factory job.
T-2 will give us money for nothing and our chicks for free.

#142 the jaguar on 12.15.21 at 11:31 pm

Yeah! Little Star made the cut on Garth’s Blog!
@ BillyBob
Received my negative PCR result today,so headed home with a short detour. Feels like rounding third base and stealing home plate. Who knew this volcano would blow only two weeks ago as I boarded the Boeing 787.
It’s been a blast. Headlines aside, it’s still a great time to be alive!

#143 George Kwok on 12.15.21 at 11:35 pm

Canada forgets so easily. Are people that stupid? Sadly, yes. Remember when denying foreign money had any effect on RE? It’s gotten worse because nobody cares. But just go ahead and keep denying. Go ahead and keep supporting Trudeau when it’s obscenely obvious what’s happening to Canada under his watch. Go ahead, I dare you.

Hahaha. Mention that statistic again, 106% of prepandemic jobs have come back , go ahead, I double dog dare you. Who’s the GreaterFool here. If you’re in your right mind you’ll hit the street with a burning torch. Otherwise, you deserve what’s coming.

“ Evil only has a chance of winning when good men stay silent”. So hang, if you think the Apocalypse isn’t on the horizon with a national debt at $1.5 trillion and provinces are gushing red, then all I can say is ‘Wow’. Trudeau said he’d replace you. Well here it comes. But don’t get off you barstool and do anything about it. I left Totalitarian Communism behind, you’ve welcomed it with open arms.

https://nationalpost.com/opinion/terry-glavin-canada-makes-a-start-in-cleaning-up-its-money-laundering-mess

#144 Overheardyou on 12.15.21 at 11:39 pm

Oh man indeed, if you think we screwed up in 1991, think about kids today 30 years from now. I heard homework was not allowed a few years back in Toronto and you can’t fail kids anymore either.

#145 Cici on 12.15.21 at 11:59 pm

#63 Brett In Calgary

Yup, that was a pretty sobering read.

Looks like those supply chain woes are catching up to Kanadian Kool-Aid and the punch bowl may soon start dwindling down from half full to full empty.

Unless team fairies and unicorns really can find a magical way to inflate it all away.

#146 B on 12.16.21 at 12:41 am

#133 Grow Up Pal on 12.15.21 at 9:30 pm
#35 SunShowers on 12.15.21 at 4:11 pm
We were not told we were “special and could have anything we wanted.”

We were told that if we worked hard and got a good education in an in-demand field, then we would have a comfortable life.

Well, we worked hard (millennial workers put in on average 7.81 hours per day, as opposed to 7.69 hours for older generations at the time), got the education (we’re the most educated cohort in history), and all we have to show for it is empty pockets and a busted economy, courtesy of the 1% who sold our future for their own profit.

We held up our end of the deal, so we’re going to take what’s owed to us one way or another. People should be thankful it’s by voting.

———————————————————–

This is BS. Sorry you haven’t gotten where you need to get to, but I have a whole team of people, 41 strong, who make between 95 and 275k. All very much livable incomes. Median age is around 40, with 50% of them being millennials. Median income around 140k.

We can not find enough people to fill 100K+ jobs. Have one opening today, posted for WFH North America. Requires 10 years experience and bachelors, 165K on target, had 4 candidates apply, none of which were interesting.

Not everyone is going to make it, 20/50/100 years ago there were people making less then the median, and there have always been people required to do menial jobs. Clearly you are not one of them, but if you know any talent that wants to work slightly more then 7.8 hours per day, is personable, can communicate and cherry on top is educated, I can put them on a path to make 125K tomorrow.

FWIW I have less education (HS only) then my boomer dad, make far more then he did at same age, live a life he could only dream of…. and that goes for all my friends. Maybe that’s the issue, you need new friends. You seriously don’t know anyone under 42 that is crushing it? Jesus that is sad, this world is full of millennial entrepreneurs doing amazing things. Must suck to be on the outside looking in.

—–

Post up the job ad, what’s the industry? $200k+ sounds interesting. Maybe I can stay in Vancouver then.

#147 Ballingsford on 12.16.21 at 12:46 am

Are country mice safe to eat?

I posted earlier about about squirrel stew, but moved to Suberia. Not that many squirrels yet, housing development is still going on.

Hawks seem to like the area, like listening to the coyotes and owls at night, and sometimes see a shooting star. Skunk lives across the street under a construction trailer. We haven’t bonded yet.

When I walk my choc lab, we often see mice. Are they ok to eat if they live in the country and dont eat too much garbage?

Need to arrange my food budget. A nice broiled or braised mouse with a salad.

#148 willworkforpickles on 12.16.21 at 12:56 am

Those, us, myself included…we can all gloat about the rising value of (our) RE for now. Until it stops rising in value.
Price increases will end when interest rates move up and higher than expected.

That’s just for openers.

Highly advanced early warning blocking technologies various countries possess or soon will, will prove to be the end-game factor in rendering all of our RE and money completely worthless. And in an instant.
All the wealthy (smart-asses) having extracted their fortunes from the blood sweat and tears off the backs of the common man can go on gloating for a little while longer…5, 6 or so more years perhaps. Striving, taking, striving…ever striving for more and more, never satisfied with having far far more than enough.

Then without warning, and in an instant … all their wealth…bang … gone, vaporized. Taken in a flash and vapour cloud as all our major cities are hit and flattened by supersonic hydrogen bombs.
All hypothetical? you might say.
Less and less so with each passing year to those researching world events as they’re unfolding at a quickening pace.
Its not a guessing game anymore.

#149 Dr V on 12.16.21 at 1:00 am

50 Waystar

“…. the fact that 25% of all RE transactions are made by
investors. 25%!!”

This “fact” lacks detail and context.

Let’s consider the “fact” that approx 70% of the population owns and occupies that dwelling unit. I
believe this includes singles, semis, row or townhouses,
and condos. So that is about 30% that “investors” own,
of which many are rented out. Others are simply vacation or second homes. There is also purpose built rentals where units are possibly not separately titled, but are owned by wealthier investors and corporations. And as we are including ALL transactions, add commercial, retail and industrial, which would also have a large “investor’ presence.

70% owner-occupation can set off alarm bells, as this is historically high. More people are in debt, and have less labour mobility.

Can you give us a link that provides details as to the number breakdown and reasoning as to why 25% is too
high?

#150 Robert Ash on 12.16.21 at 1:35 am

I read the Terry Galvin article, and thanks for posting it, as the article in my view is a good bet to be accurate. The East West confrontation, is not new, and it is further exacerbated, by Quebec’s insular interests. Quebec also has in my view, disliked the Americans, and I feel would have supported a pivot to another major market. The Alberta Oil businesses are or have been significant corporate American companies. In fact Conservatives, did, support China Acquisition of Nexen, albeit after Harper was MSM vilified to not allowing the Nexen buyout initially. The big disappointment is also the CBC, which really was piled high against Harper… really slanted, to the point I recall, I was shocked, the partisanship. Now the CBC is into Mind Meld, we will win them over Social Media style… Interesting that they have also convinced the Millennial, that Boomers are to blame when all we did, was buy a house…We didn’t trust big Government, we were independent, Hippies, Free love, and hated Tricky dicky… Millennials, should run from Big Government. Boomers have seen that movie. Kent State, Vietnam.. They tried to send us to war, how many times, but the Millennial realist believes the garbage, the LPC and CBC deliver. It is getting serious, and desperate, and most Bloggers here, have had their work experiences, and a few Dinaros tucked away… It won’t be that long… Boomers are free of this crap now, other than the poor planners, and fakes.

#151 Jane24 on 12.16.21 at 2:44 am

My parents immigrated to Canada from England along with their 5 children in 1967. I saw the writing on the wall re dropping standard of living plus horrible winters and moved myself and my 3 children back to England in 1992. Now the other Canadian grandchildren are getting their British passports and moving back to this side of the pond for a cheaper house, lower cost of living and better jobs. One kid this year and two booked in for the Spring. This will only leave 3 of that generation in Canada and they are getting itchy with not progressing in life.

What happened to my parents’ dream of 50 years ago? There must be a ton of young Canadians with dual citizenship. Will they stick Canada out or go back to their parent’s home countries for a better life?

#152 Wrk.dover on 12.16.21 at 5:20 am

Somewhere on TV the other day, I heard a John Hopkins Uni stat that concluded the above 60 or 65 set (I forget which) had a highest enough percentage of the covid deaths to tally out at a ratio of 1 per 100 wrinklies dead in USA.

#153 Another Deckchair on 12.16.21 at 6:56 am

@151 Jane24

Moved back this way a couple of years after you moved overseas. Not quite the correct timing to wave as our planes passed each other mid-atlantic.

Keep thinking about moving, but, when I was working as a native in non-english in the Continent (thanks British Passport!), *everyone* I met asked me “You are Canadian? You are you here, we’d love to be in Canada rather than here!”

Now, with BREXIT and a British Passport, working in the Continent is not so easy, nor is having a sailboat in the Med; not only must vacate Europe for a goodly length of time, your boat does, too, otherwise it’ll be taxed as an import should you sail it back to Blighty. (according to what I read written by the RYA, anyway)

And, remember, Britain is not as portrayed in the old TV shows, it’s not all old country houses and Rolls Royces and fancy tea parties.

The grass is not always *absolutely* greener on the other side of the fence.

(for instance, you’ve got Boris the Bumbler, we’ve got Chrystia the Impaler and her side kick Justin. Ok, that’s being mean, I’d not want their jobs)

#154 Wrk.dover on 12.16.21 at 7:04 am

At about 30 minutes in this morning on Squawk Box, Joe Kiernan said his take on what Powel had said yesterday was basically “It’s party on, Garth”.

Quote from a movie, but too funny not to put here.

#155 Mr Happy on 12.16.21 at 7:24 am

A couple things….

First, cats…really? I had so hoped that this would be the one place I could escape that evil creature…they are satan’s spawn and want to kill everyone. I know it…just by the way they look at you. Please Garth…for the love of dogs…stop posted those nightmarish images…

Second, Garth….save us…keep posting and tell us how to keep our money.

Finally…

“#6 mark on 12.15.21 at 3:18 pm
1st”

Really, these people are still here???? HAHAHAHAHA

#156 Steven Rowlandson on 12.16.21 at 7:42 am

Taxes won’t be rising and the borrowing won’t be dropping. There is no real capacity for paying more taxes and no political will for ceasing to borrow and spend.
Government will take the easy way out… Borrow or print and leave lenders and currency users to twist in the wind.
Those who disagree have not been paying attention to history.

#157 Do we have all the facts on 12.16.21 at 8:00 am

Canada has plenty of Cobalt and Lithium the two key materials required for the manufacture of Lithium Ion Batteries. The only investor who seems the slightest bit interested in exploiting these Canadian resources is, you guessed it, Elon Musk.

This blog provides ample evidence that Canada has no shortage of capital to invest but Canadians seem to have little interest in investing in Canada’s future. We complain about the rising level of government debt in Canada but focus the majority of our investments on real estate or companies based in the United States.

Canada talks about going green but offers very few incentives to produce solar panels, wind turbines, or components for electric cars, trucks and busses including lithium ion batteries. Our investment in R&D related to green initiatives was shamefully low in 2021 and the economic update provided on Tuesday was totally silent on ways to encourage future investment in green initiatives.

We are not only failing to build Canadian boats we seem intent on booking passage on boats built by other countries.

Surely it is time reassess our future place in the global economy and to invest in development of this future.

#158 crowdedelevatorfartz on 12.16.21 at 8:13 am

@#151 jane24
” There must be a ton of young Canadians with dual citizenship. Will they stick Canada out or go back to their parent’s home countries for a better life?”

++++

I believe “duallys” are also called ” Canadians of Convenience”.
When things go wrong they scream for Canada to bail them out.

I know lots of Brits that have left Limey-land due to their disgust over Boris and Brexit.
As for the other “duallys”
I somehow cant see hundreds of thousands of people flocking back to India, Lebanon, China, etc….because Trudeau is an idiot.

#159 Ontario Lock Down on 12.16.21 at 8:34 am

Looks like Doug “the pandemic is over” Rowat may have been a bit premature in his climax essay.

Ontario by all indicators is headed into another hard lockdown with case counts now spiralling upwards.

Ford is running scared. The govt missed the boat again. All around the world Omnicron was exploding “but that can’t happen in Ontario – we are too well prepared”

Well, with COVID, you are never well prepared.

It’s like deja vu here. Everyone is running for cover again as borders slam shut and businesses are closed down.

It’s beginning to look a lot like Christmas (sing along with me….)

Reminds me of the last scene in Spielberg’s 1984 movie “Gremlins”.

#160 willworkforpickles on 12.16.21 at 9:06 am

Such actions of just going ahead and throwing more and more debt on the pile as it were and whenever government leaders feel like it, will come with consequences as many don’t yet understand.

Take the US national debt for instance…not as unabated as the growing Canadian debt monster but a growing and much larger beast with every new bill (abated) but passed.
What kind of message does this send out to those holding and would be holders of national debt.

It only goes to show foreign holders (various percentage holders of the countries debt) a wanton abandon toward creating it and in fact…a total disregard of it with no intention of paying it back and the intention only being, that of adding on more of it and to no end.
A corrupt and dishonest intention is what debt holders are seeing.
And the various brain-iacs around here think there can be no interest rate increases aside from some inflation concerns to generate a minor uptick here and a minor uptick there coming as if there are no, will be no consequences for all the corrupt government spending.

If they want to go on printing money, they will have to keep a definite number of debt holders coming for more and it will be through higher rates.
Debt holders indeed that can see what’s happening.
Debt holders starting to lose faith in the governments ability to pay its debts.
Debt holders worried they won’t be paid back and will demand higher rates be paid. Higher rates that will somewhat substitute for what might not get paid back under the growing risk to them holding the country’s national debt.

So…sure,…yeah, what the hell …another $40 billion here, a trillion there…why not, why the hell not aye ….just go you right on ahead and toss it on the pile.

#161 crowdedelevatorfartz on 12.16.21 at 9:25 am

Inflation?
Interest Rates?
Deficit budgets?
Pfffft

https://nationalpost.com/life/homes/the-demand-is-going-to-be-sky-high

Not when the Realtors write the headlines…..

#162 IHCTD9 on 12.16.21 at 9:44 am

Star looks well-fed!

It really is amazing just how much damage the Trudeau Liberals have done – and right across the board. It’s clear they have a one track mind and as long as they are in power, more napalming of Canadian prosperity will be the result.

I don’t see it getting fixed before I retire, anyone that tries will get voted out immediately. The “New Canada” has filled it’s lungs for the first time, and cries out. From here on in, we’ll all be getting a lot less sleep.

#163 Dharma Bum on 12.16.21 at 10:05 am

We need a patriotic movement in this country.

It can be called G-Anon.

Garth can be the secret leader, dropping posts on a sketchy web platform while the G-Dogs eagerly await each cryptic post and subsequently interpret them for the loyal, patriotic, G-Dog followers. (Oh, wait…that already exists!)

Then, collectively, we can get organized, and overthrow the enemy within.

First order of business: Storm the Parliament.

Together, G-Anon will make Canada Great Again!

Where we go one, we go all.

GANON! GANON! GANON! GANON! GANON! GANON!

#164 Love_The_Cottage on 12.16.21 at 10:06 am

#159 Ontario Lock Down on 12.16.21 at 8:34 am
Ford is running scared. The govt missed the boat again. All around the world Omnicron was exploding “but that can’t happen in Ontario – we are too well prepared”

Well, with COVID, you are never well prepared.
_____
I’m certainly no fan of Ford, but what specifically could/should he have done differently? Ontario is the first to reduce large venue capacity. After a slow start the vaccine rates in Ontario are among the highest in the world. 3rd doses are being rolled out. I’d love to hear your suggestions. Thanks.

#165 Quintilian on 12.16.21 at 10:18 am

The champion and defender of Canadians- Mr. Erin O’Toole said, speaking in the House of Commons on Tuesday:

“Conservatives, Mr. Speaker, believe in a Canada where everyone has the chance to work hard, everyone has the chance to own a home,”

Wow, what a lambasting, what a harsh whipping with a wet noodle.

If the guy had any gonads, he would have pointed out that Liberals such as Taleeb Noormohamed have been raking in huge profits while inflating the housing market.

Hypocrisy protecting hypocrisy.

#166 millmech on 12.16.21 at 10:39 am

#35 SunShowers
Of course you can have anything you want you just have to work for it!
My plant is always looking for capable hardworking apprentices, our best earner this year is a second year electrician, not even an adult yet and she will make over 100k with OT.
She did the first year in high school and worked weekends, holidays, graveyards and night shifts in the plant to get some experience, sacrificed her social life in her last year of school to get a leg up.
I do not know what is more embarrassing, that you just whine about being nothing and try to take from those who work harder and smarter than you, or that eighteen year old girls makes double your wage in a career that will always be in high demand.

#167 James on 12.16.21 at 10:40 am

#72 45north on 12.15.21 at 5:16 pm

So today we have 1991-style inflation, 2.5% home loans and the price of a home (benchmark, national) is $790,600. In the GTA the average property is valued at $1.1 million. Household debt – like Canada’s indebtedness – is off the charts. Real estate values jumped 25% across the nation in the past year, wages are up 2% and money is devaluing at the rate of almost 5%.

don’t worry, it’s JustinFlation

Justin Trudeau wanted to be Prime Minister and he is. Which means he has to put the brakes on inflation and debt. He hasn’t and he won’t. He is like Neville Chamberlain who failed to recognize the danger of Nazi Germany and failed to prepare the country to counter the danger. Canada right now needs to recognize the economic danger. The budget won’t balance itself. The economy won’t manage itself.

We have to prepare for tough times.
__________________________________________
Trudeau will be remembered in history as the limp weiner that he has always been. Wants all the accolades and bright light but possesses zero skills to properly govern and country.

#168 James on 12.16.21 at 10:42 am

#158 crowdedelevatorfartz on 12.16.21 at 8:13 am

@#151 jane24
” There must be a ton of young Canadians with dual citizenship. Will they stick Canada out or go back to their parent’s home countries for a better life?”

++++

I believe “duallys” are also called ” Canadians of Convenience”.
When things go wrong they scream for Canada to bail them out.

I know lots of Brits that have left Limey-land due to their disgust over Boris and Brexit.
As for the other “duallys”
I somehow cant see hundreds of thousands of people flocking back to India, Lebanon, China, etc….because Trudeau is an idiot.
___________________________________________
The immigrants will not leave while Trudeau dolls out any amount of money to keep them in his clutches. He (and the liberals) run on the immigrant vote and the completely blind millennials.

#169 DON on 12.16.21 at 11:04 am

#139 Ponzius Pilatus on 12.15.21 at 10:44 pm
#130 DON on 12.15.21 at 9:25 pm
#108 Ponzius Pilatus on 12.15.21 at 7:39 pm
Tornadoes, Hurricans, Floods and Fires and the States.
Glad to be safe and sound in the Lower Mainland.
Looking out the window, beautiful snow dusted mountains.
Very few better places to live.

********

Lots of earthquake activity on the west coast of North America.
——————
Agree,
But you get a good one, and then you can relax for 300 years.
Not like these Tornadoes, that come out of nowhere, every year, just when you cuddle up with your mistress.

******
After seeing how people react to crisis, even a little one that damages infrastructure will be too much for most to handle.

Good news a part of the Coq Hwy will be open to commercial traffic/buses on Monday.

#170 Shawn Allen on 12.16.21 at 11:16 am

Eliminate the Detached-Single-Family-Home-Only Belts

Toronto Board of trade is out with a report proposing the Province cause municipalities to eliminate zoning that restricts housing to single family detached homes.

This should be done.

What would Manhattan look like if if they had never eliminated farms and then single family detached houses in most neighborhoods?

The people in the detached single-family-home-only belts have no right to expect that the character of the neighborhood should be frozen for all time.

I live on a suburban cul-de-sac. I have never felt any right to oppose nearby high-rises going in. (And some have not that far away near the river to some howls of protest.) And if someone wants to tear the houses down across from my house and build attached townhouses I do not think I have any right to block that. If I oppose it I should be ignored.

And maybe the tax assessment per $1000 should be higher for single family detached houses. It must take more roads per dollar of property value and higher costs for fire prevention and water and sewer to serve those low density houses?

And let’s not stop with townhouses being allowed.

Cities need to literally grow up!

#171 crowdedelevatorfartz on 12.16.21 at 11:20 am

@ Jane24

Seems to be a bit of a traffic jam today getting trucks off Jolly Old Blighty and to the Continent.

https://www.reuters.com/world/uk/several-miles-trucks-queued-up-near-british-port-dover-reuters-photographer-2021-12-16/

And I thought BC Ferries line ups were bad.

#172 Dragonfly 58 on 12.16.21 at 11:21 am

#146 B, I was thinking the same thing myself. I am currently retired , but not too long in the tooth in the big picture . I could absolutely be coaxed back into the workforce for the right position. A medium tech background with very good hands on , nuts and bolts skills and complex industrial / transportation industry systems trouble shooting skills. When do we start ?

#173 Don Guillermo on 12.16.21 at 11:28 am

#84 BillyBob on 12.15.21 at 5:58 pm

From tonight’s presser with Intergovernmental Affairs Minister Dominic Leblanc:

“Traveling abroad could also expose Canadians to people living normally. ‘We are asking Canadians to be cautious.’ Leblanc said. ‘Experiencing basic freedoms and common sense, even for a short time, could be a real shock to many Canadians, and could undermine the effects of two years of brainwashing and fear mongering.’”

Well, ok, maybe I’m paraphrasing a bit but it was something like that
***********************************
Haha, good one BB!
Great pic of Star and safe travels Jag.

#174 Ontario Lock Down on 12.16.21 at 11:28 am

RE: #164 Love_The_Cottage on 12.16.21 at 10:06 am

“I’m certainly no fan of Ford, but what specifically could/should he have done differently? Ontario is the first to reduce large venue capacity. After a slow start the vaccine rates in Ontario are among the highest in the world. 3rd doses are being rolled out. I’d love to hear your suggestions. Thanks. ”

Hospital capacity sucks here. And everyone is burned out from the last wave (Delta – they have to change the name of that hotel now as who would want to stay at the “delta” hotel?).

Large capacity events have been occurring regularly (now at 50% capacity, look for that to be shut down completely in the next few weeks as this Omnicron thing explodes out of control).

This same thing happened last fall and winter. Expand capacity limits, allow large events, close down hospital capacity and then, when you get an explosion of cases, wait until after Christmas and lock everything down. Last year you couldn’t get a hair cut until May.

We have the usual protest groups marching around trying to stop people from getting vaccinated (the only way to prevent illness with this crazy virus).

I am watching as things rapidly fall apart here again, for the second time in a row.

Try to get an appointment for the third dose. You are going to be waiting until February or March. They don’t have enough vaccine and they don’t have enough people to inject it.

It is a disaster. I know folks in the USA, you can walk into any pharmacy and get your COVID booster, no appointment needed. It is easy.

#175 Shawn Allen on 12.16.21 at 11:43 am

Deja-Vu all over again

A prominent single family home developer / builder near Kelowna B.C. in his biography book describes how the market crashed there in 1989.

He said there was no single cause. “Partly it was caused by the over-heated economy and rampant real estate speculation of the 1980’s, coupled with dumb monetary policy that brought the North America economy down with a thud” … With the first gulf war in 1990 oil prices soared and business and consumer confidence plunged to new lows. It was a deep financial hole and brought down giant real estate companies like Cadillac Fairview, the Campeau Group and even the might Reichmanns.

Ahh yes, this was 31 years ago and so very few people under 50 remember it. But lot’s of older people should remember it very well.

Is the set up today similar? Partly. Rampant real estate speculation, deep financial hole. Rising costs (though not so much oil this time). But we won’t make the monetary mistake of s rates too fast. NO, today’s central bankers will (likely?) make their own new mistake of keeping rates far too low for too long.

Well stay tuned. We’ll see what happens.

#176 Do we have all the facts on 12.16.21 at 11:43 am

#156 Steven Rowlandson

The Government of Canada extracts operating revenue as the Canadian economy expands. Unfortunately Justin and the crew missed class the day that process was explained.

Over the years growth of Canadian GDP has become domesticated. As a result annual increases in GDP are being financed by various forms of government and citizen based debt instead of increased productivity.

When the average family in Canada owes 170% of their annual income as debt and total government debt is approaching 100% of annual GDP it seems pretty obvious that today is being purchased with tomorrow. No need to worry until the music stops and the punch bowl is empty.

Taxation has become nothing more than a ticket to a costly party financed by future generations.

#177 Barb on 12.16.21 at 11:48 am

Isn’t it about time T2 heads off to some buddy’s island somewhere?

#178 Dr V on 12.16.21 at 12:02 pm

161 Fartz

Former industrial lands? On river sediment? In a flood plain?

Filling 3 metres to escape flooding? I would think piles would be the way to go, if not required, for any multistory building. And if the ground level is raised, then where would the displaced floodwaters go?

The article does mention some challenges. I’ll say.

#179 Victor Maitland on 12.16.21 at 12:58 pm

@ #159 Ontario Lock Down

You sound like you’re almost clamouring for another lockdown. Ford, like most other premiers not on the east coast, has rightly resisted lockdowns until the last possible moment, and for very good reason: Lockdowns hurt. They have enormous economic, social and psychological costs.

While you might be addicted to the drama of COVID and the associated lockdowns, most of us would prefer a more measured response that holds off on the extreme actions until absolutely necessary. If we need another lockdown, we will get one. However, lockdowns are a nuclear option, not a “just to be safe” option. You head for the basement when the tornado siren goes off, not when the weather forecaster says “chance of tornadoes”.

Book your booster, put on your mask when required, be as careful as you can be to avoid unnecessary contact with crowds of people, and otherwise get on with your life. That’s what the rest of us are doing. I didn’t get 3 needles and diligently mask up for the last 16 months just so I could spend another winter under house arrest.

#180 Victor Maitland on 12.16.21 at 1:05 pm

@174, Book your shot at a local pharmacy. Booked mine yesterday for January 19th at the local Shoppers. The government site isn’t the only portal through which to book vaccines. Do something for yourself instead of just yelling for the government to save you.

#181 All lies and manipulated u decide on 12.16.21 at 1:06 pm

#123 Victor Maitland on 12.15.21 at 8:29 pm
Yes, the millennials are the first generation to vote in a spendthrift Trudeau. Never happened before.

T1 was a flaming fiscal prude neocon compared with his boy. – Garth
——————————-
That’s a keeper Garth LOL!!
We need to call it like it is or were in serious doo doo.
We need to remove our government’s and start over..
Sad

#182 IHCTD9 on 12.16.21 at 1:15 pm

#35 SunShowers on 12.15.21 at 4:11 pm”

We were told that if we worked hard and got a good education in an in-demand field, then we would have a comfortable life.
____

Who believes bunk like this? You gotta do the work/time, but you know there are no guarantees in life (outside death and taxes).

Voting to “take what’s yours” just gives you less, and gives us more. You must understand that by now ya? Has Trudeau punished the rich and helped the poor? No, he has done the opposite. The BOC/Trudeau spending orgy caused my net worth to swell like a hammered thumb. You guys now work the gig economy and missed out on 100% RE gains since 2015.

By all means, vote for lefty nimrods like Trudeau if you want. I’m just here to tell you he’s actually making you poor, and making me rich instead. Based on JT/CF’s spending plans, 2022 will bring more of the same.

TLDR: You ain’t getting nothing you are “owed” by voting – obviously so far it’s been quite the opposite.

#183 Faron on 12.16.21 at 1:47 pm

#152 Wrk.dover on 12.16.21 at 5:20 am

Somewhere on TV the other day, I heard a John Hopkins Uni stat that concluded the above 60 or 65 set (I forget which) had a highest enough percentage of the covid deaths to tally out at a ratio of 1 per 100 wrinklies dead in USA.

COVID is reducing life expectancy. At 60-65 (I hope) one still has a couple good decades. This is a very sad statistics and isn’t abating.

#184 The joy of steerage on 12.16.21 at 1:48 pm

#151 Jane24 on 12.16.21 at 2:44 am

My parents immigrated to Canada from England along with their 5 children in 1967. I saw the writing on the wall re dropping standard of living plus horrible winters and moved myself and my 3 children back to England in 1992. Now the other Canadian grandchildren are getting their British passports and moving back to this side of the pond for a cheaper house, lower cost of living and better jobs. One kid this year and two booked in for the Spring. This will only leave 3 of that generation in Canada and they are getting itchy with not progressing in life.

What happened to my parents’ dream of 50 years ago? There must be a ton of young Canadians with dual citizenship. Will they stick Canada out or go back to their parent’s home countries for a better life.

Ah Lady Jane… dumped the colonies for King n Queen.. yet still visiting them virtually 30 years later!…ah the ties that bind…. so how much is a London flat?… 3milion quid is it?? Brexit, Nigel n Boris will smack that back a bit… a Brexiteer at heart are you

#185 Love_The_Cottage on 12.16.21 at 1:50 pm

#180 Victor Maitland on 12.16.21 at 1:05 pm
@174, Book your shot at a local pharmacy. Booked mine yesterday for January 19th at the local Shoppers. The government site isn’t the only portal through which to book vaccines. Do something for yourself instead of just yelling for the government to save you.
________
Good suggestion, I’m over 50 and have my 3rd shot scheduled for Jan 14. Plus there are clinics where no appointment is required if you are prepared to line up.

And let’s try to be kind to each other. Many of us are struggling emotionally/mentally with the latest variant. Be kind, rewind.

#186 All lies and manipulated u decide on 12.16.21 at 1:54 pm

#35 SunShowers on 12.15.21 at 4:11 pm”
By all means, vote for lefty nimrods like Trudeau if you want. I’m just here to tell you he’s actually making you poor, and making me rich instead. Based on JT/CF’s spending plans, 2022 will bring more of the same.
———————————————————-
Me too $10,000,000.00 up up and away.
I lost count.
And i don’t support or need it.
I was fine with 6mil

#187 crowdedelevatorfartz on 12.16.21 at 2:11 pm

Hmmmm.

Could THIS be the cause of the miles long line ups at the Port of Dover?

https://www.reuters.com/world/france-halts-british-visitors-eu-nations-tighten-borders-omicron-rises-2021-12-16/

Seems the post Brexit British travel plans to Europe just got a bit of a “sticky wicket eh wot?”

#188 Dragonfly 58 on 12.16.21 at 2:19 pm

Joy of steerage, the London scene is a whole different situation to much of rural England. Compared to the Fraser Valley rural England offers far more value for money. I have been looking and am as amazed at how cheap many properties are going for in the UK as I am disgusted by how poor a value for money situation anything here in B.C. is.

#189 crowdedelevatorfartz on 12.16.21 at 2:24 pm

@#185 Love_the_cottage

“And let’s try to be kind to each other. Many of us are struggling emotionally/mentally with the latest variant. Be kind, rewind.”

+++

Dr Bonnie?
Visited the PEI cottage lately?

#190 Read'em & Weep on 12.16.21 at 2:24 pm

#123 Victor Maitland on 12.15.21 at 8:29 pm

Yes, the millennials are the first generation to vote in a spendthrift Trudeau. Never happened before.

T1 was a flaming fiscal prude neocon compared with his boy. – Garth

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

Huh! WTF? T1 increased spending over his tenure more than any other PM. To wit:

“Pierre Trudeau was a spending fool. He believed in a state-led economy, and the longer he lasted in office, the more statist he became. The Foreign Investment Review Agency was succeeded by Petro-Canada. Petro-Canada was succeeded by wage and price controls. Wage and price controls were succeeded by the single worst economic decision of Canada’s 20th century: the National Energy Program.

Was Trudeau a disaster? Yes”

It has taken nearly 30 years to recover after he nearly bankrupted and split up the country, writes David Frum.

By David Frum, The Ottawa Citizen, September 28, 2011\

True in 2011. But a decade later his kid has shown us what profligacy really is. – Garth

#191 Dragonfly 58 on 12.16.21 at 2:31 pm

IHCTD, I agree that real estate prices have shot up. But turning that into any sort of a profit situation usually means a substantial down size or a move a long way away. In many cases it really isn’t a pratical situation.

#192 DON on 12.16.21 at 3:05 pm

BANG

The B of England raised rates today before they i tended to.

#193 Not Fooled on 12.16.21 at 3:06 pm

#35 SunShowers on 12.15.21 at 4:11 pm
We were not told we were “special and could have anything we wanted.”

We were told that if we worked hard and got a good education in an in-demand field, then we would have a comfortable life.

Well, we worked hard (millennial workers put in on average 7.81 hours per day, as opposed to 7.69 hours for older generations at the time), got the education (we’re the most educated cohort in history), and all we have to show for it is empty pockets and a busted economy, courtesy of the 1% who sold our future for their own profit.

We held up our end of the deal, so we’re going to take what’s owed to us one way or another. People should be thankful it’s by voting.

***********

Until you whiny dimwits realize that YOU keep voting for the parties that are making Boomers and Gen X wealthier while penalizing Millenials, you will keep kicking own goals.

Your ideological indoctrination was not an education.

Socially liberal policies are the bait and switch. If you insist on them above fiscally conservative economic policy, you will suffer for it. Quit sniveling, make your bed, and lay in it.

#194 James on 12.16.21 at 3:10 pm

#190 Read’em & Weep on 12.16.21 at 2:24 pm

#123 Victor Maitland on 12.15.21 at 8:29 pm

Yes, the millennials are the first generation to vote in a spendthrift Trudeau. Never happened before.

T1 was a flaming fiscal prude neocon compared with his boy. – Garth

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

Huh! WTF? T1 increased spending over his tenure more than any other PM. To wit:

“Pierre Trudeau was a spending fool. He believed in a state-led economy, and the longer he lasted in office, the more statist he became. The Foreign Investment Review Agency was succeeded by Petro-Canada. Petro-Canada was succeeded by wage and price controls. Wage and price controls were succeeded by the single worst economic decision of Canada’s 20th century: the National Energy Program.

Was Trudeau a disaster? Yes”

It has taken nearly 30 years to recover after he nearly bankrupted and split up the country, writes David Frum.

By David Frum, The Ottawa Citizen, September 28, 2011\

True in 2011. But a decade later his kid has shown us what profligacy really is. – Garth
___________________________________________
Nero is dead but his son still fiddles!

#195 Michael in-north-york on 12.16.21 at 3:13 pm

#151 Jane24 on 12.16.21 at 2:44 am

My parents immigrated to Canada from England along with their 5 children in 1967. I saw the writing on the wall re dropping standard of living plus horrible winters and moved myself and my 3 children back to England in 1992. Now the other Canadian grandchildren are getting their British passports and moving back to this side of the pond for a cheaper house, lower cost of living and better jobs. One kid this year and two booked in for the Spring. This will only leave 3 of that generation in Canada and they are getting itchy with not progressing in life.

What happened to my parents’ dream of 50 years ago? There must be a ton of young Canadians with dual citizenship. Will they stick Canada out or go back to their parent’s home countries for a better life?
===

Nope, a lot of immigrants (me included) will not consider going back.

Moving back to England is a fair option. I could have done that if I had any right to get a British passport.

In case of many other countries-of-origin .. life in Canada is still a lot better than over there. No amount of T2s, or even Dippers, will succeed in making Canada bad enough in my lifetime. And even if they did, it would be easier to fix it here, rather than go back and try to fit in.

#196 The joy of steerage on 12.16.21 at 3:16 pm

Politics Brazilian style!!…

We could do with a bit of this… sure beats listening to them….

Just replace parliament with a MMA cage… heck they never show up anyways.

https://nationalpost.com/news/world/brazilian-politicians-settle-their-differences-with-three-rounds-of-mma-cage-fighting

#197 Michael in-north-york on 12.16.21 at 3:17 pm

#165 Quintilian on 12.16.21 at 10:18 am

The champion and defender of Canadians- Mr. Erin O’Toole said, speaking in the House of Commons on Tuesday:

“Conservatives, Mr. Speaker, believe in a Canada where everyone has the chance to work hard, everyone has the chance to own a home,”

Wow, what a lambasting, what a harsh whipping with a wet noodle.

If the guy had any gonads, he would have pointed out that Liberals such as Taleeb Noormohamed have been raking in huge profits while inflating the housing market.

Hypocrisy protecting hypocrisy.
===

Sure, if a Liberal MP did something wrong, it must be the Concervative leader’s fault. O’Toole must have excluded that MP from the caucus.

Oops .. from which party’s caucus?

#198 Kevin on 12.16.21 at 3:19 pm

Great post, Garth, we truly have lost our way. It’s sad and depressing as an older moist millennial. Now I’m going to play Color Me Badd (“I Wanna Sex You Up”) on repeat. How do you come up with these references??? LOL

#199 Michael in-north-york on 12.16.21 at 3:19 pm

#170 Shawn Allen on 12.16.21 at 11:16 am

Eliminate the Detached-Single-Family-Home-Only Belts

Toronto Board of trade is out with a report proposing the Province cause municipalities to eliminate zoning that restricts housing to single family detached homes.

This should be done.
===

100% agreed

#200 All lies and manipulated u decide on 12.16.21 at 3:28 pm

True in 2011. But a decade later his kid has shown us what profligacy really is. – Garth
——————————
Your making me proud Garth.
When a nut is a nut you call it a NUT.
The guys a child………at best..
we can now see why he hired Freelunch.
Its a complete takeover. Pretend extend inflate and then promise they will chuck some dough at you because you can’t keep up.
Get it idiots? That voted for him.
Rents are souring and everything else. I own ALOT of STUFF my STUFFS going up up and away.
I’m going to have to buy my kid and his soon to be wife a home. They have no chance.

#201 bdwy on 12.16.21 at 3:56 pm

#191 Dragonfly 58 on 12.16.21 at 2:31 pm
IHCTD, I agree that real estate prices have shot up. But turning that into any sort of a profit situation usually means a substantial down size or a move a long way away. In many cases it really isn’t a pratical situation
————————–
yes, true for the majority (i guess) of cdns. however millions of other beavers have more than one property , having seen robust y/y growth and most are totally liquid (these days), cap gains taxes are about the best kind to pay.

stocks same thx to powell not sockboi, he does have that in his defence.

brk.b on fire this week – it’s the anti-tesla.
arkk getting punched in the face too.

#202 robin hume on 12.16.21 at 6:50 pm

hello, we read you quite often…..pleasantly surprised to see cat pics !!!! On occasion have bonded with doggies but kittens are our thing. How can we submit a photo? robin+karen

Send it to me at “[email protected]” – Garth