“I’m a left-winger who loves your blog,” Michael wrote. That got my attention. In a polarized world where being a paleo white guy is a sin and truckers rendered the Canadian flag a hate symbol, it’s increasingly hard to bridge the gap. Events of this weekend in Ottawa have made the polarization more acute. In the past month we’ve all lost.
But Mike the Millennial (he’s 40) has reached out. “I’m thankful for all your free advice. Especially the recent posts on “growing up”. I’ll get right to the point and leave the accolades until the end. I have a question and a cautionary tale.”
First the tale.
M & squeeze & two little spawn rent in DT Toronto from a great LL. Their 850-footer is in a multi-unit semi, and they love it, despite the tight space. Both parents have DB pensions, make almost two hundred grand between them and have managed to save $300,000, precisely because they rent and have had a D&B portfolio.
Well, until a while ago.
Four years ago, we had all our money in a balanced portfolio and we were doing well. Then our landlord approached us about buying the property because he was retiring (5 units in total). He seemed serious and we started salivating – finally a chance to get into the market! After six years of following your blog’s investment and financial advice (and doing very well), we decided to break our plan and got lusty for the property. He shared some numbers with us and we took our money out of the market thinking we could have the deal done in a year – big mistake!
The mistake was that life happened. They had kids. Mike took a paternity leave which messed up finances. Covid came to town. The real estate market went squirrely. They got cold feet about taking on huge debt, now that kids had happened. Their life savings sat in the bank. In cash. Depreciating.
So…. we made a bad move that ultimately cost us probably $40,000 – $50,000 (maybe more) by sitting on the sidelines during COVID. I’m disappointed about that but as one socialist once said: “resignation is ever the fount of strength and new hope”. We’ve accepted that if we want downtown living we will have to be renters for life, and that’s fine. There are many advantages to that as you say. And we are also resigned to rough it in this small apartment at least until the twins are school age and we move to a bigger rental in a better neighbourhood.
The thinking is valid. If you want kids, wish to live in the urban core, make ‘only’ $200,000 gross household income per year and would rather have assets than debt, then these days you rent. The alternative for this couple is to spend $2 million, have zero savings, a $1.7 million mortgage (which they wouldn’t qualify for) and be looking at a loan renewal at double the rate in 2026. In the meantime, no savings, no investing, no private school and no RESP contributions. That would be the definition of reckless parenting.
But wait. There’s a question.
If you had all your life savings in cash right now, would you recommend putting it all in a balanced portfolio right now or wait?
“Should we put all of that $300k house downpayment life savings back into our balanced portfolio for retirement (taking advantage of TFSA room and tax avoidance strategies that you give on your blog) or do we wait for things to drop further?” Mike asks. “I know that time in the market statistically beats timing the market, but does that apply in this context ? We have some breathing room with our pensions to weather market storms. And we are nearly fully resolved not to get drunk on house lust again and focus on our family’s future.”
The facts are clear. These people are only forty. Two decades of financial growth stretch before them. They have defined benefit pensions, reducing the economic risk. They want cash flow for private schooling and higher education for the kids. They have lots of tax shelter room. And mostly they have time – and are happy not to fall victim to the real estate porn which is society’s addiction.
In short, why not invest? Now? The only reason would be a belief financial assets will tank and the world is moving into a dark place of regression and loss. Strange thinking for a leftie.
So stocks markets have been wobbly in 2022 after historic gains. The S&P 500 has given up 7.4% from hitting an all-time high. That’s not even a correction – but if Putin eats Ukraine, there could be more shocks ahead. It’s worth remembering the US market is still sitting 11% above its year-ago level. Corporate profits are robust. Central banks will be tightening monetary policy methodically but not destructively. Only half the world is vaxed, and as the other half receives the shot the global economy will continue to expand. The post-pandemic reopening trade is alive. And given the advance of markets over the past two years, a correction of 10% or 15% is not a bad thing. In fact it’s needed, to blow off excess.
Periods of expansion are long. Times of retrenchment are short. Over the past decade we’ve had a lot of shocks, including Trump, trade wars, weather bombs, a US debt ceiling crisis, assaults in Washington and Ottawa and a global pandemic that’s killed 5.8 million people. During this time a B&D portfolio has averaged just under 8% with far less volatility than equities.
Mike has regretted sitting out for the past four years. His regret will be legion if he stays in cash for another four. Trying to pick the perfect entry point is as stressful as it is impossible. Analysis breeds paralysis. And when markets go down the only sane thing to do is ignore them. Be balanced, be diversified and be confident.
“I really respect your contribution, even if I don’t always agree with your politics,” he concludes. “I was mad as hell about your flag this past summer. I suspect that I have similar feelings about the political Left as you do about the political Right.”
Yes. We know both extremes have sullied our nation’s symbol. Time to change.
About the picture: “Payton was born at the shelter and was adopted by us at 8 months old,” writes Steve in northern Alberta. “Now 14, she has lived the life of luxury and feels she deserves no less. She’s right. She likes no one but us and tolerates only a precious few but in her heart she is a little clown. We love her to death attitude and all.”
171 comments ↓
For “Michael,” dollar cost averaging over a few months instead of investing the entire nest egg all at once seems prudent.
Sure thing. Then he can probably buy less with the Sam money. – Garth
Jump in to the investment fire with both feet Mike.
200k per year and you both need the RRSP tax breaks as well as the TFSA tax free contribution.
Regardless of our Woke “leadership”.
Canada still has oil and wheat to sell to the rest of the world when the boycotts hit Russia .
The 10 commandments (via the Bogleheads):
1. Develop a workable plan
2. Invest early and often
3. Never bear too much or too little risk
4. Diversify
5. Never try to time the market
6. Use index funds when possible
7. Keep costs low
8. Minimize taxes
9. Keep it simple
10. Stay the course
Garth, I am back.
I’m glad you are too, and that you took my advice to spend some time preparing this month. This may help save your life.
“…but if Putin eats Ukraine, there could be more shocks ahead.”
Wise words. Very true.
We are on the precipice of horrific global catastrophe.
Putin has been waiting for the Olympics to end to light the fuse.
That is today.
That is NOW.
Allowing a few hours for Russia and its allies to get their athletes home.
Then all cards are on the table.
The wildcards are there too, and the unpredictability ahead is breathtaking.
I have stockpiled enough food and materials to survive up to ten years. At three locations. I am gassing up my vehicles and containers one last time today and getting away from any major population centre this afternoon.
Joe Biden is correct.
“As of this moment, I’m convinced he’s made the decision,” Biden said.
https://www.cnn.com/videos/world/2022/02/17/biden-russia-ukraine-invasion-next-few-days-sot-vpx-nr.cnn
https://www.cp24.com/world/biden-now-convinced-russia-will-launch-invasion-of-ukraine-1.5786920
China will be on side with Russia, and take on Taiwan and Japan.
Missiles will be flying over all of our heads, possibly as early as tomorrow. Some nuclear.
Probability?
Over 80% this week.
This is the beginning….of the………?
Food. Heat. Electricity. Internet. Medicine. Gasoline. Police. Safety. Boundaries.
Don’t count on any of these after the sun sets today.
February 20 is here.
The Ides of March are barreling towards us.
PREPARE
“If you had all your life savings in cash right now, would you recommend putting it all in a balanced portfolio right now or wait?”…..For Christ sake , the answer is yes. I’m not sure Mike has actually been reading your blog, prob just coming for the dog pics.
Good analysis, Garth. Thanks. Markets are down, exuberance is low. Opportunity gently knocks. The knocking could get more insistent or could disappear altogether.
Similarly, I’m involved in several subdivision and multifamily development ventures. The pre-sales done at the peak of Covid and disillusionment have appreciated greatly. Now that the hordes are madly outbidding each other for remaining lots, the upside is considerably more limited.
Sell mania, buy disillusionment.
Now that the protest is done and cleared by police (as could have been done anytime in the last three weeks requiring all of zero emergency powers), will the Libs still push for carte blanche authority vote tomorrow? Can’t imagine there would be any support for it.
The other point to invest it all now is that, if one misses the best 10 days of returns (or whatever was the chart that Doug or Ryan showed on this topic), he/she drastically underperforms the market! Ardent followers of this pathetic blog will know what I’m talking about.
Sound advice, as usual.
If Mike cannot afford real estate in downtown Toronto, than he should absolutely put the cash into a balanced and diversified portfolio. The sooner the better. It’s obvious at this point that trying to time the market is impossible. Paralysis by analysis is real, and hiding in cash, hoping that the central banks will do the heavy lifting for you while you wait for the next crash is destined to fail. Put the money in, ignore it, and rebalance as needed. Also ignore social media driven conspiracy theories. it’s simply shock value that preys on emotions (usually fear) for clicks and engagement (ad revenue).
“And mostly they have time – and are happy not to fall victim to the real estate porn which is society’s addiction.”
-Not entirely true. Can we call it an addiction if there are huge numbers of people looking to purchase real estate to raise families? Who want stability? Who want pride of ownership? Who want to be long term parts of their communities and lay down roots? As this blog has correctly pointed out, some areas are more bubbly than others. Plus, there are huge demographic trends at play here with millennial nesting and family formation, which is contrubting to heavy demand for SFD. Prices are simply reflecting demand, and will continue to do so. Buy when you can afford (with a backyard).
IDK
@#72 Observer
“I’ve yet to hear an articulate thought from even a single demonstrator. It’s kind of embarrassing that stupid people took over downtown Ottawa for 3 weeks.”
#77 crowdedelevatorfartz on 02.20.22 at 7:53 am
————————————-
There is an entire segment of our Lower middle class whom are not necessarily articulate but with a bad feeling that can’t be summed up in a coherent manner. Our establishment needs to be asking themselves: an entire segment of our population whom are generally law abiding people, snapped and feel they have nothing to lose, why?
Protest is how marginalized people express their rights.
As Nik Nanos worded it on CTV today, the feeling for them is “Decline-ism”
– Inflation off the charts creates fundamental insecurity
– Shelter Prices are insane further adds to economic insecurity
– They see the next generation will be worse off, and a decline for their economic class means they are one step from min wage service job serfdom
– Their Industry (and social class) are the most impacted by mass immigration and the changing demographic.
– They were brought up on the myths that they served a virtuous free middle class Liberal democracy (this illusion shattered with the Covid “Emergency”)
– They are never going to “learn to code”.
There is a demographic of our population that are falling out of the middle class, being further marginalized and largely mocked by the Laptop Class and such mocking encouraged by the current regime.
If it continues we will may find we really do have a class of radical “Dead Enders” whom have no stake and think they would be better off if they “burn it all down.
That’s the first ever Olympic Games I never watched a minute of live coverage.
I hope that Vancouver doesn’t host them in 2030, that’s the last thing this area needs.
I mean, if I wanted to feel guilty about looking at 5 greasy rings for two weeks, I would just go to Hooters and order the onion rings…
M47BC
I’m feeling less enthusiastic about the safety of my retirement portfolio …the government may grab it if I continue to be upset with the Liberals.
We did an even stupider thing than Mike did just before the GFC. In fear, we took our money out of the market and let it sit in GIC-type thingies for a couple of years*. Didn’t lose money, didn’t make much either.
It’s only a minor regret of our financial life; the bigger one is that we didn’t start renting and saving properly when younger. Still, onwards and upwards!
(Vote NDP! You know it makes sense :-)
*Until I read Mr. Turner’s Sheeple opus.
Yes, Michael, invest now that you’ve decided against buying (despite your landlord likely being peeved at your decision).
And be glad you’re not buying in when the market is HOT…
Romanian MEP calls Trudeau a tyrant, dictator.
https://twitter.com/cosminDZS/status/1495191350962049025
American satire Babylon Bee as cutting as ever.
https://babylonbee.com/news/xi-jinping-criticizes-trudeaus-heavy-handed-approach
https://babylonbee.com/news/us-to-invade-canada-to-establish-a-democracy
And Her Majesty got Covid. She’s fine.
https://www.bbc.com/news/uk-60453566
Messed up World.
https://www.nytimes.com/2022/02/19/world/europe/ukraine-russia-shelling.html?smid=tw-nytimesworld&smtyp=cur
Now not the time to make life long decisions I say. Wait a couple of months.
A lot of uncertainty in the air.
#12 Ed on 02.20.22 at 1:17 pm
I’m feeling less enthusiastic about the safety of my retirement portfolio …the government may grab it if I continue to be upset with the Liberals.
———
Strengthened government powers are a terrible idea in a democracy; if used once, they will almost certainly be used against their creators at regime change.
And Frodo will have to endure great travails carrying the Ring of Permanent Emergency Power to its destruction pursued by a gibbering Free-Gollum and her sturdily-caboosed minions.
#4 Apocalypse Now
You seem pretty cock sure about the world situation. Unfortunately, you got it half right. Putin doesn’t want war, ‘Murica and N.A.T.O. want it. There’s no reasoning with moral degenerates, liars, warmongers, and their ilk. One more false flag and it will begin, like the Gulf of Tonkin. It won’t matter who starts it. You can run, but you can’t hide, Apocalypse.
Just move to Spain/Valencia, buy a nice apartment, close to the beach, live debt free, enjoy superior health care and weather.
Why is it so difficult leaving this authoritarian/dictatorship regime?
Stockholm syndrome?
Re: #4 Apocalypse NOW
How does a Putin invading Ukraine turn into global nuclear war? NATO will not be fighting in Ukraine – it has already said as much – and Putin is not so foolish as to attack a NATO country.
Mistakes can happen in war, sure, but the odds of this blowing up to include NATO are extremely low.
Should have bought that multi unit rental. Would have been up about a mil right now.
Instead he gets to buy back into an overvalued market and experience at the most a 4% yearly return.
In every person’s life, there is “the moment”. That one event that, if you choose right, will change the rest of your life.
He missed his moment. Could have made an off market purchase of a rapidly appreciating asset from an owner who was sympathetic to his cause. No bidding war. No real estate agents and their commission.
And he blew it.
He’ll never get that opportunity again.
The most shocking thing about this post is that a couple making in excess of $200,000 per year cannot buy a house for their family in their home town of Toronto. That says it all.
Yeah move to Spain, a nice 3 bed villa with a pool is about $350,000 and you can live like a king on $2000 a month. Go now.
@#4 Apocalypse Wow.
Feb 20?
Nah.
My money’s on Feb 22.
2/22/22
Has a much niftier ring to it when the Media grabs hold of it with their ravenous claws and pumps it up….
“Yes. We know both extremes have sullied our nation’s symbol. Time to change”
Then make the change….. you have the means starting with this blog to make it happen.
Were counting on YOU Garth!
Mike doesn’t strike me as being particularly bright, blaming his woes in part on his newly minted progeny.
“We had kids. “. As if kids magically appear from the ether.
“truckers rendered the Canadian flag a hate symbol”
When did that happen?
“Events of this weekend in Ottawa have made the polarization more acute.”
All that happened was Trudeau took off his mask. No big deal, anyone not in the Laurentian bubble could already see through it anyway.
“Only half the world is vaxed, and as the other half receives the shot the global economy will continue to expand.”
The other half will never be vaxxed. Even Gates has admitted that Omnicron is moving faster than vax efforts ever could. Since we now know that the vax does not stop the spread, it looks like the vax has run its course. It was important to deal with the crisis, but you only need to shoot a horse so many times. The kids don’t need it, because they are not “at-risk”, and vaxxing them won’t slow the spread. (We know that now, but did not before. Many things were learned.)
“if Putin eats Ukraine”
Anyone who thinks they have any idea what’s going on over there has way too much confidence that they are subject to the correct propaganda. Russia’s stance can be seen as defensive just as easily as offensive. Maybe they think NATO is going to attack them? But whatever the truth is, if such a thing exists in war or on TV, the people who know the “truth” aren’t sharing it with us. That is the only part of this whole thing you can count on.
Who peed in your cereal? – Garth
If Mike & spouse are confident they aren’t going to jump into this insane RE market, then by all means get those $ to work in a B&D portfolio. And for sure fully fund their TFSA’s for themselves & the RESP’s for the children. Yes, they have DB pensions, but why not take full advantage of the TFSA while the going is good? Plus, not a few DB pension plan members have had that golden ticket snatched from them by companies going bankrupt (Nortel, Sears, Enron, Air Canada etc.). Forget about timing the markets. Waiting for the ‘best’ time sees that pile of $ diminish as inflation eats away at buying power.
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#20 T2 or bust on 02.20.22 at 1:47 pm
“And he blew it.
He’ll never get that opportunity again.”
Not true.
The economic and political backdrop is in flux.
Keep the gun powder dry. Just as the curmudgeons came to believe that 21% mortgages were normal, the contemporaries think a house in Slump Ville is worth 20 times income.
IMO, our PM and the Liberal/NDP parties have sullied our national identity the most. Emergency measures are uncalled for and should be used for … er, emergencies.
So far the sole justification { other than very vague generalizations } for activating the act was Bill Blair’s statement that they could not have compelled the Tow Truck operators to get involved without it.
So should we just call it the Emergency Tow Truck Act ?
Otherwise it sure looks like a standard Police action.
Checkpoints (100) and a no-go perimeter could not have been set up without the authority, plus the freezing of bank accounts and financial assets of those involved in financing what was, essentially, terrorist activity would not have been able. The act also allowed officers from other jurisdictions and levels (federal, provincial) to legally take part in a local operation that was far beyond the capacity of the Ottawa police. – Garth
Uncertainty about rates, Ukraine and Covid et. al. at least there is some consistency out there and it is:
The Kid vs. Elon – Update
Flight Path
https://twitter.com/ElonJet/status/1495307564841680897
Accounting
https://twitter.com/ElonJet/status/1495340549729046536
The Kid
https://twitter.com/JxckSweeney
And he wants a Tesla…
https://twitter.com/CNN/status/1492557150744236037
Dun, Dun! Law and Order, Trucker Style, Season One, Episode 9.
Apparently plenty of arrested protestors complaining about their First Amendment rights being ignored. Others bitching about their Miranda Rights not being read to them.
This is the level of person the Ottawa police are dealing with.
The type of person who yells that masks cause harm to children yet use their kids as human shields.
The type of folks who would believe that a mounted Ottawa policeman’s horse trampled a person to death yet all you hear about that comes from Ted Cruz, a Fox News stringer and re-tweets yet apparently CBC, Global, CTV, et all, never mind the Globe and Mail or National Post all missed that?
Time to brush up on Brandolini’s law.
“truckers rendered the Canadian flag a hate symbol”
When did that happen?
Maybe it hasn’t happened but I’ll never look upon someone flying the flag off of anything but a flag pole the same again. My country’s flag has been co-opted and used for something that is contrary to everything I feel as a citizen of Canada. Sullied.
Mike sounds exceedingly boring (must be real)…but he’ll def’n be rocking it by the time he retires – At 60ish…jeesh, he’ll be driving a tesla or lexus…but be undesired (that is going to SUCK!!)
On the right track there, little bro! IF that’s the track you want. Raise your offspring to be good little tax paying capitalists (is that right?)…anyway, keep checking your balance everyday. It makes you super popular.
OAN – complemented the hottie at the gym the other day. Said they had nice eyes. Baby blues. Man oh man…give me that experience ’till I die…
That’s my mandate..
Og
Anytime is a good time to buy into the markets. Set up core positions and work around them as time moves on.
If they go up take some profit (rebalance). Things go south, don’t panic, buy (rebalance in reverse). That’s been working out quite well for years.
That’s the discipline of investing.
DELETED
If i was Mike , i would wait until Putin decides to invade or not . He would certainly lose money if it happens.
Shouldnt have to wait too much longer.
How would he ‘lose’ money if he’s not selling anything he invests in? – Garth
Dogman01
Our establishment needs to be asking themselves: an entire segment of our population whom are generally law abiding people, snapped and feel they have nothing to lose, why?
—————————
I think to call the few thousand people protesting vaccines an entire segment of our society is overstating it.
Yes, we should be aware that there are 5-10% of the population that are antivax, but only a small proportion of them actually put rubber to road and made the trip to parliament hill.
Remember we are talking maybe 2000-3000 people in a population of 38 million, actually showing up for the protest.
Now 90% of the population did the rationale thing and got the science based solution to covid – the vaccine.
The bigger question is why 10% of our population that are antivaxxers rejects science and follows the advice of vitamin salesmen, conspiracy theorists, and unqualified bloggers.
Very impressed with Steve Bell and how he is
implementing Trudeau and Freeland’s emergency act.
#30 dragonfly58 on 02.20.22 at 3:17 pm
So far the sole justification { other than very vague generalizations } for activating the act was Bill Blair’s statement that they could not have compelled the Tow Truck operators to get involved without it.
So should we just call it the Emergency Tow Truck Act ?
Otherwise it sure looks like a standard Police action.
Checkpoints (100) and a no-go perimeter could not have been set up without the authority, plus the freezing of bank accounts and financial assets of those involved in financing what was, essentially, terrorist activity would not have been able. The act also allowed officers from other jurisdictions and levels (federal, provincial) to legally take part in a local operation that was far beyond the capacity of the Ottawa police. – Garth
————————————————————–
You can add the blockade at Coutts, Alberta cleared out with 24 hours after the EMA declaration. Before that, Jason Kenney requested help from the Federal government to clear out the border. The RCMP busted down a weapons cache held by the occupiers.
I just checked Flightradar….lots of strange activity occurring in Ukraine air space. Heavy lift aircraft Anatov mysteriously near Minsk at 8,000 feet. Northrup Grumman RQ-48 global hawk flying at 50,000 feet having a good look around over central Ukraine. It took off from somewhere in the Mediterranean Sea. Must be an aircraft carrier out there.
Prepare!!
A leftie seeking advice from a “non-leftie” What sort of leftie is he?
And don’t buy stocks. Paypal, Facebook and Adobe have not gone well for me.
Problem: Many cannot watch the mainstream news media in Canada any longer. The spin, bias , manipulation and full on deviousness is just too obvious. This creates a diaspora of sources \opinions.
The Canadian Government supplies CBC and other MSM outlets with considerable funding, I think north of $2 Billion currently. That money flowing direct from Government to Media which is a smack in the face conflict of interest on the part of our media.
Solution:
Instead provide each Canadian with a 100% Tax deduction for Media subscriptions to Canadian news sources then via Tax system report on the choices the citizens make. Simply divide the $2 Billion proportionality to the outlets that Canadian Citizens have selected as their chosen trusted News sources.
If 25% Include CBC then 25% of the Government funding bucket goes to CBE. If 2% choose Rebel News well so be it. Perhaps with less then 1% there is a cut-off on the subsidy, eliminating the truly radical. This would vastly improve Local News reporting as I swear In my town it is hard to discern if the story on the Local News is actually in the City I live in (often it is not).
This reduces the pandering to the Government currently on display, let’s the Canadian Citizen choose and support a professional Journalist 5th Estate.
Lacking this CBC\CTV and Glow-Ball grow more and more like Pravda feeding a spun narrative rather than reporting events.
CBC was the only outlet that provided continuous, non-stop coverage of the events in Ottawa over the weekend without commercial breaks. It used multiple reporters, cameras and commentators and was the sole source of raw, live pictures. Cops, 1. Truckers, 0. Sorry for your loss. – Garth
Immigrants move away from tyranny, not to tyranny.
The federal government will continue to implement never-before-used powers under the Emergencies Act as long “as they are required” to help end the illegal blockade of the national capital, Emergency Preparedness Minister Bill Blair has said.
I just checked Flightradar….another Northrup Grumman RQ-48 global hawk flying at 51,000 feet probably heading to the Ukraine to offer a second opinion. This one is NATO aircraft. It took off from south west Italy in Sicily just west of Syracuse. Dolce…is there an airbase there?
If I was Michael, it would make sense to have a portfolio of 300k professionally managed by Garth and his team.
The rigours of retail investing are brutal, and not for most.
It’s easy to get caught up in the fluff when you don’t know the game.
….wasn’t Bannon arrested on the yacht of a Chinese businessman, who the New York Times reported was Guo Wengui?
The Chinese financier behind Steve Bannon’s right-wing projects and the social media app Gettr filed for Chapter 11 bankruptcy on Tuesday, claiming to only be worth $50,000 to $100,000.
Kanada: home to a million Millionaires.
That’s right. Most every house, semi and kando is worth a cool mill.
Of course the deca-millionaires in this comments section all drive the 15 year old Toyota Corollas. With steel wheels natch.
Only the grubbing proles in this country milk their homes as ATMs, for the latest E-class, as a station-in-life-wagon.
That said have you seen the new E-class wagon?
Its imposing lines are worth of much depreciation err I mean appreciation.
https://www.mercedes-benz.ca/en/future-vehicles/2021-e-class-all-terrain
Garth dropping truth bombs today.
Sail Away, see Garth’s response to #30. you are wrong. again.
The sullying of the flag reminds me of the status change the US flag underwent when Dubya invaded Iraq under false pretense. recall lots of shouts of FREEDOM then too. not to mention the eponymous fries. back then, young Americans unravellin abroad would stitch the Canadian flag to their pack so as not to be shunned. the Canadian flag’s capital took a big hit this last month.
The only caveat it that Mike and co. need to examine their risk tolerance. Many of us in B&D-land ‘know’ that it doesn’t matter what the market does this year or this decade, but that it’s a reasonable bet that it will rise by the time Mike needs to cash out. Their DB plans make it even easier to invest pretty care free. I’d have absolutely no qualms about lump sum investing (and in fact did 2.5x Mike’s amount this time last year).
But… if Mike dumps it all in and gets spooked by a 35% drop this year (rememberl 2008?) and cuts and runs, DCA-ing may be his strategy. Potential opportunity cost this way, but rather than look at market they have to first examine their own psychology so as not to sabotage their efforts.
The science/stats show lump sum beats DCA, and that markets eventually rise despite even black swan events. But you have to deal with your own behavioural impulses to truly make a reasonable decision here.
#46 Dave on 02.20.22 at 5:41 pm
I just checked Flightradar….another Northrup Grumman RQ-48 global hawk flying at 51,000 feet probably heading to the Ukraine to offer a second opinion. This one is NATO aircraft. It took off from south west Italy in Sicily just west of Syracuse. Dolce…is there an airbase there?
+++++++++++++++++++++++
U.S. Naval Air Station Sigonella is located in eastern Sicily.
“What do you mean, first amendment? What’s that?” Judge Julie Bourgeois asked him.
some of those protesting Canadians who seem to be confused on the evolution of this act especially on Fox
https://www.thecanadianencyclopedia.ca/en/article/war-measures-act
Sure Mike should invest in a B&D portfolio, but make sure its invested outside of Canada. Sure our supreme leader Justin is only freezing the financial funds of the “deplorable” truckers today but who knows what this power hunger little psychopath will go after tomorrow. Actually it could be anyone he want to target. This going to have serous implication on world wide trust in Canadian financial institutions !!
CBC was the only outlet that provided continuous, non-stop coverage of the events in Ottawa over the weekend without commercial breaks. It used multiple reporters, cameras and commentators and was the sole source of raw, live pictures. Cops, 1. Truckers, 0. Sorry for your loss. – Garth
—————————–
I saw some of CBC’s on the ground reporting and some of CTV’s. It was real reporting. Bias was absent (did not take cops side or protestors side) and from what I saw professional and up close. Now it is very unfortunate that some of the reporters had pretty rude experiences, I did see live when Evan Soloman was hit with the frozen beer can last week.
Yep – Actual reporting from the ground was pretty solid.
It seems subsides are the only way to keep a responsible media in place. Allowing the Government in power determining how the subsidies are distributed is a bad model, earns distrust. Viewer choice seems to be more democratic, some method hand’s off like election Canada funding based on support.
The right wants nationalism.
The left wants socialism.
There is a compromise, right? Why not National Socialism?
The 20th century example went down quite badly into ruin.
China runs a pretty good National Socialism in the 21st century.
Didn’t Justin say he liked China’s autocratic model?
The truckers made asses of themselves to go along with the entire political class of this country.
The Emergency Measures Act is no longer needed, or course, if it doesn’t pass the federal government has also committed crimes….Justin and Chrystia are criminals.
What a mess. Trudeau and Chrystia are a complete disaster and they need to be removed. Just like the convoy was.
#40 Dave on 02.20.22 at 4:42 pm
I just checked Flightradar….lots of strange activity occurring in Ukraine air space. Heavy lift aircraft Anatov mysteriously near Minsk at 8,000 feet. Northrup Grumman RQ-48 global hawk flying at 50,000 feet having a good look around over central Ukraine. It took off from somewhere in the Mediterranean Sea. Must be an aircraft carrier out there.
Prepare!!
____________________________
Thank you Dave. Your information is helpful and may save lives.
I urge everyone to fill your gas tank in the next few hours.
Ensure you have some large plastic storage containers to put food items outdoors in the cold backyard, when the power outages begin due to warfare.
Do not distract yourselves with work if you do not have the day off tomorrow.
PREPARE
Hopefully he didn’t donate $20 to the truckers or he might have 0.
Owning physical assets in a time of increasing political and monetary uncertainty is the only rational choice.
Be glad the protests by truckers are on the level of baboons not like the attack on the Coastal Gas Link camp. That seemed like a well practiced paramilitary operation, be thankful the truckers were not trained like these people.
We are more scared of a group of easily recognized, non violent people protesting and making noise in broad daylight than a highly trained(to me) group of masked people employing high level guerilla warfare tactics in the middle of the night to harm RCMP officers, cause multi millions in damage to public infrastructure and terrified people doing their job.
These people had a mission and they accomplished it a most spectacular way(my opinion), psychological warfare at its best. They disabling the security cameras, maximizing terror by using axes on vehicles occupied by unarmed civilians, firing flare guns at people trapped in the cab of the vehicles, using their (enemies) own resources(heavy equipment) to destroy the encampment.
Who will want to work at an unarmed camp now, knowing that if help is needed it may not arrive since these people used delaying tactics to stall the help from arriving by falling trees and starting fires on the only road in and hurling flaming projectiles at the RCMP trying to clear the road thus injuring them.
Checkpoints (100) and a no-go perimeter could not have been set up without the authority, plus the freezing of bank accounts and financial assets of those involved in financing what was, essentially, terrorist activity would not have been able. The act also allowed officers from other jurisdictions and levels (federal, provincial) to legally take part in a local operation that was far beyond the capacity of the Ottawa police. – Garth
____________________________________________
Which was the terrorism part… The singing of Oh Canada… The hot tubs, The honking horns, the kids playing games or the fireworks?
No doubt these protestors overstayed their welcome but they wanted change and weren’t going to leave until they got it. The local police, city and provincial leaders let them stay. Is that the terrorism part?
I remember left wing nuts calling this convoy to Ottawa a “nothingburger” and a waste of time. How did that waste of time turn out… that a useless pathetic PM had to enact measures to freeze bank accounts of the protestors.
The eyes of the world have been watching and our many levels of Gov’t have failed it’s citizens.
Garth will never admit it but if that kneeling BLM supporting joke of a PM actually talked to those protestors, it would have been over in days. They were protestors, not terrorists.
An FYI regarding Coutts, it wasn’t the emergency act that stopped that protest. RCMP had been talking to organizers for days beforehand. When protestors found out (Thanks to the RCMP)that they had militia pinheads that were ready for war and brought automatic weapons and protective clothing, it was time to leave because that isn’t what they signed up for.
Garth,
I know I’ve asked you this before but …
Why not update your WordPress template to include the following:
1.) Like/(Dislike) – this gives readers and posters an indication as to the popularity of a specific post, perhaps one that they wrote. It would help build a case against the inane comments of some of our more “popular” commenters.
2.) Reply/(Threads) – allow people to easily respond to a specific post rather than having to cut and paste a previous post for context. In fact, more than 26% of the daily word count comes from these posts. I. E. duplicate posts from pasting. It would help viewers to focus ononly those posts of interest to them. For instance, if I saw something from TurnerNation, I could easily avoid the post and all the related replies.
3.) Flags – otherwise known as “crowdsource comment moderation”. The readers will flag comments that are felt to be unacceptable. You would just focus your energy on those posts and decide whether to unapprove it or not . Huge time saving for you!
All of these changes are super simple to implement and some could be done with the existing template. I’m sure some of the readers from the steerage have grandchildren that could do this for you for a few dogecoin.
Nope. It’s a blog with comments on the post, not group therapy. – Garth
CBC was the only outlet that provided continuous, non-stop coverage of the events in Ottawa over the weekend without commercial breaks. It used multiple reporters, cameras and commentators and was the sole source of raw, live pictures. Cops, 1. Truckers, 0. Sorry for your loss. – Garth
_____________________________________________
The reporters on the ground with live raw pictures were appreciated, except those who had to take a minute in their reporting to mock the woman protestor with a pigeon on her head. No class…
The problem with the CBC was their commentators who had ex police chief after ex police chief all barfing out the same dribble. Didn’t take long to see why they are “retired”.
It would have been nice to see some balanced reporting and get interviews with supporters and find out why they are there supporting… but no, they have to video a woman screaming at a cop about not getting arrested or a crying woman who can’t find her husband that was pepper sprayed. Then again, the CBC will never bite the hand that feeds and therefore never broadcast any reporting that criticizes the gov’t. No wonder people want it defunded.
A follow up to my post, I would not go out to any remote camp a to work on heavy equipment as I would not feel safe in the camp. I have worked in camps lots in the past but not now, not after this, you are hyper vigilant about safety at these camps because you know help is a long ways away.
Trades run in small circles and everyone knows everyone/someone so to speak and most trades are now saying these remote camps are too unsafe now, not worth the risk after this.
What a trooper…
https://www.dailymail.co.uk/news/article-10533477/Queen-plans-honour-appointments-online-phone-following-positive-Covid-test.html
Oh how I miss Rex Murphy. Did not always agree with him, but ALWAYS found him worth listening to….Here he is today with J Peterson, a fascinating discussion about the current situation.
At the end of the discussion, Peterson says he believes the government will not last the next month and asks Rex what he thinks…..his response is, ‘I’m more pessimistic’…..’Mr Trudeau has become the tattered tail of a not very noble kite’….finally someone important in Canada gives some amount of respect to the working class,….which I am not of a part of…..but rely on every single day for my family’s existence. ‘Police 1, truckers 0’….is not a very helpful comment to make, it just adds to the growing fire and further inflames…its time for leadership that will help a country that desperately needs to heal itself. Watching the politicians in Ottawa makes me wonder where that leadership will ever come from.
https://www.youtube.com/watch?v=5efyUt5YDU0
Garth I wish I could watch the video with you and hear your comments and perspective (in private)…..given your actual experience and history.
#42 Lee
Individual stocks can be a real bitch. That’s lesson one.
Learn from mistakes and don’t repeat them. Think global.
Mitigate risk.
“Yes. We know both extremes have sullied our nation’s symbol. Time to change. – Garth”
This is naive!
The establishment (various levels of governments and their millions of unionized pension bound public sector members) control most of the wealth, control or subsidize the (cheerleaders) medias, finance political parties with public money, even businesses either part of government protected cartels (banks, telecom, etc) or heavily subsidized they don’t dare to protest anymore.
Change really?
It would take a revolution, might happen actually once the economy gets ugly enough and working class suffering becomes unbearable, either way it’s going to get ugly eventually!
43 Dogman01
Media in Canada were slaughtered by the internet.
It used to be that TV and newspapers made their money off of ads.
Newspapers were full of ads. TV had commercials.
It was a closed system.
You wanted news? Two sources. TV or a paper news source. Both full of advertising.
Enter the internet.
Newspapers are now online. No one reads paper ones. Don’t want to see ads? Use an ad blocker.
TV is dead too. Replaced by streaming services without commercials.
The news media became a ward of the state as a result.
Any news outlet that wants to stay solvent has to accept a lot of government funding.
Which means the globe runs article after article on “climate change” even though no one reads them or cares anymore.
News stories are written in a way so as to ensure the government funding keeps flowing.
It is not really the news media’s fault.
They didn’t want this. They just got destroyed by a new mass communication device that they could not adapt to – the internet.
I wonder what Michael should do if, say, for example, he’s a 60-year-old F without a DB pension…
The very latest market turmoil has come out of the markets beginning to factor in a now possible – 10 – quarter point rate hikes. And in that, the Fed is presumed thinking, with the more hawkish alternative … they will bring inflation down by orchestrating a recession to fight it.
Over this, the insanity gets out of hand again throwing the markets into turmoil, where even a week ago they had already absorbed the Fed plan of 3 paltry increases for 2022 and were moving on.
The Fed is entirely out of solutions to fix the mess they have created these last dozen years outside of any policy that brings a great deal of pain.
So now they are testing the markets to see how much 10 rate increases rocks the boat and will likely settle back in with the planned 3 or 4 rate hikes they intended to do, taking the credit for calming down the markets by doing so.
All provided Russia doesn’t throw a wrench into what’s likely little more than a superfluous plan by the Fed to begin with.
How long will this little gimmick last after the markets settle down?
Not long!
It’s down to steady rate hikes bringing on the next recession or rampant inflation doing it alone.
10 qtr point hikes? …if they were serious , wouldn’t be near enough to quell inflation either. Even 10 qtr. point hikes are much too little much too late and would only fuel it higher.
The numbers needed to get near or ahead of the inflation curve aren’t in that formula.
It’s game on.
When they revert back to their 3 or 4 planned rate hike blueprint for 2022 … another month or so… quiet the markets back down doing it, they just might ride the eye of the storm through much of the rest of this year.
Then its right back in it with many tough days ahead.
Cops 1 Truckers 0: Sorry for your loss. Not necessarily so. Compare western Canadian small town hillbillies infiltrating Ottawa to sandal clad farmers in Saigon during the Tet Offensive. Inevitable tactical defeat for strategic positioning. The Convoyists are higher than kites right now. High on power. Success beyond their wildest dreams. The lil potato & his merry band of political operatives have welded together populist malcontents into something starting to resemble a cohesive force. The Convoy shock troops got on a lucky streak. Getting inside the wire, setting up logistics, reinforcements, supply lines, initially without pushback. But the greatest stroke of luck was being bookended by the left wing populist shock troops. Sending truckers fleeing for their lives in the middle of the night out here in B.C. Thats a dagger at the throat of Liberal Hegemony.
A significant minority of small town western populists have now coalesced . These Convoyists made their “bones” & are now accepted in the MAGA family. American media is giving them millions of eyeballs. Canadian media blacklisting has been broken. Too bad Convoy haters, but looks like you better start prepping for a long low grade war. Pick your side wisely. Our ranks are swelling. Nothing like a jackboot on the back of the neck of the middle & working class to boost recruitment.
Boring Eastern Canadian elite pearl clutching keyboard warriors. In the most Boring capital of a most Boring country. In the middle of a Boring winter. At the end of a Boring epidemic. You needed a little Excitement in your life. And you got it. And will continue to get it. Good & Hard.
Dogman01 ”10
‘A largely mocked by the Laptop class and such mocking encouraged by the current regime’
+ 1000
“we made a bad move that ultimately cost us probably $40,000 – $50,000 (maybe more)”
Not really. Mike&Squeeze’s $300k pile of cash got eroded by maybe 8% over the last 4 years due to inflation. That’s all.
Sure they missed out on some spectacular gains over the past 2 years, but that’s not the same thing. They still did way better than those who never even get into the market, let alone those who get out at the worst possible moment.
One thing I will never do as an investor is cry over a missed opportunity. Think about it — I could scold myself for selling Tesla too early, not getting into more bitcoin, or not buying that overpriced $750k house back in 2017. Any of those would only lead me to making an irrational and likely bad decision in the future.
This individual right’s thing is reaching insane proportions.
Why shouldn’t I have the right to carry my Pearl handled shooting stick outside my hip for all the honest world to feel?
My rights are important to me because they make me feel good and I’ve worked hard to be an accurate shot. You need not be afraid because I can handle my gun.
All this idiocy is an infantile distraction from the conversation that people need to have RIGHT NOW!!!
We continue to overpay the risk averse taking precious capital from the job creating private sector.
We cannot afford high salaries, excellent benefits, and supplemental matching pension payments to public sector risk averse workers.
When will we finally get leadership to tackle this endemic problem.
We are facing a debt trap. Too much debt where we will be unable to tackle inflation because the government and the citizens will be unable to face the interest payments.
Inevitably we will be looking at increased taxation (water bills, property taxes etc.) which will stifle investment.
We need Paul Volker and Paul Martin austerity but we have a soft insolent population with no discipline.
Just look at the way folks approached Covid. They knew that the disease was particularly vicious on the obese, but the people never lost weight, in fact they stayed home more and consumed more food and alcohol watching Netflix.
And no one can understand why the country is going broke as each dollar of debt contributes less and less to GDP in a marginal sense.
We have lost our way and our people are weak.
he could of gotten a 1.7 million mortgage now,yes the bank wouldnt give it, but lots of private money around, yes its 7%, but you get the money, and then refinance at lower rates when you show income statement of the 5 plex. too bad he probably only needed a 1 million mortgage to get the place a few years before.
there would be tax advantages of multi owner occupancy, a source of long term stability of his growing family and alternative income stream when he retires and other people pay his mortgage.
He definitely should of bought it, not because the market subsequently went up, but here is a few years later, and kids show up, and he is still in the same spot, a renter, sure he might of even have a higher account value, but doesnt fundamentally change his position, he is just a govt employee with a pension renting a place.
If the new owner of the property wakes up and wants to sell, or make his life difficult because he wants a higher rent, he has little leverage or power and then what, move?, he should of collected rent cheques instead of writing them, it was a no brainer. He is not a businessman, you have to know when to strike and take calculated risks.
@64 Fishman;
I just hope that the convoy truckers (99% of them) figure out that they were used.
That’s the real sad story here; they were the cannon fodder. Fed pablum that sounded like an elixir, got burnt.
Political jockeying 2; cops 0; truckers 0
Question. If I ask a question on this blog, do I really have to go back to the comments to see if it is answered?
to #4 Apocalypse NOW on 02.20.22 at 12:30 pm
CNN….CP24… etc.
********************
There doesn’t seem to be a war yet, but there are so many shell-shocked people around…
I know a Micheal that is taking a similiar path. Opportunity in life comes in waves. Much life surfing. No sense getting in at the end when the wave flattens out leaving one to paddle back out. Some waves are just plain dangerous to one’s security.
I betcha Micheal sleeps easy at night knowing he can pay his bills no matter what. Now that is a responsible father, husband and individual. A guy I would gladly share a conversation with. Patience Micheal. Besides just watch a couple episodes of fear thy neighbour and you’ll be good. Retire in the countryside where nutty is miles away and have lots of dogs.
@#53 The West
“.Trudeau and Chrystia are a complete disaster and they need to be removed. Just like the convoy was.”
+++
We’ll need much larger tow trucks……..
To lighten things up:
My retirement plan should i run outta money in my late years ***white collar crime…it pays well vs the sentence. Minimum security retirement home, 3 meals, dental, medical, day leave and the security is second to none.
@#63 millmech
“trades run in small circles and everyone knows everyone/someone so to speak and most trades are now saying these remote camps are too unsafe now, not worth the risk after this.”
++++
A buddy of mine is a heavy duty diesel mech.
He’s worked remote camps all up and down the BC coast, the NWT, Alberta, Ft. Mac.
on and on.
He would work the nightshift and repair the big dozers and trucks while the camp slept.
He ALWAYS had a shotgun in his tool box in the shop or worktruck for bears.
Summertime, hot, bay doors open, quiet.
He was working in the main garage shop under a truck and didnt notice when a grizzly bear walked right past him heading to the open kitchen door.
The cook was baking bread, rolls , pies, etc when the bear walked in and started gorging on the fresh baked food.
Bear Heaven.
The cook screamed and ran.
My buddy went to see what was going on.
The bear chased him back into the garage then turned and went back to eating.
Two minutes later the bear was dead, the pies were saved and the entire camp was awake.
They coulda used him on the Northern pipeline the other night.
@#60 Rochdale GM
“I wonder what Michael should do if, say, for example, he’s a 60-year-old F without a DB pension…”
+++
It depends…
Asking for a friend?
60 years old and thinking of buying?
Getting a mortgage?
Why.
Keep renting and live off the investments….unless there’s nothing to invest.
Or
“Welcome to WalMart how can I help you?”
People noticed the disrespect shown to the flag, but I wear another piece of equipment that seems to show up at these sort of gatherings on a regular basis.
Each day, to keep myself safe, and sometimes the people around me, I put one of those Fluro Jackets on that keep showing up at these protests, turned occupations.
I wonder one day if the division becomes so great, that I walk into an establishment to get service, and am denied because I’m wearing a fluorescent jacket or vest?
How do I differentiate myself from these guys, but also stay safe and visible?
I know, from now on I will go Full Borat.
At least then I will only be denied at places with a no shirt, no shoes, no service policy…
M47BC
https://www.hollywoodreporter.com/lifestyle/lifestyle-news/sacha-baron-cohen-offers-pay-fines-mankini-wearing-borat-tourists-1060638/
@#71 fishman
“Boring Eastern Canadian elite pearl clutching keyboard warriors. In the most Boring capital of a most Boring country. In the middle of a Boring winter. At the end of a Boring epidemic. You needed a little Excitement in your life. And you got it. And will continue to get it. Good & Hard.”
+++
Yep.
It started with the mandated lockdowns and vaxx rules.
After two long years….people were willing to drive across Canada in sub zero temps.
Spring is coming and it wont just be crocuses popping up everywhere.
They need to end the lockdowns asap before Covid, lockdowns, AND inflation really get the unwashed plebes really really organized.
There are no lockdowns. – Garth
@ #71 fishman on 02.20.22 at 7:28 pm
Cops 1 Truckers 0: Sorry for your loss. Not necessarily so. Compare western Canadian small town hillbillies infiltrating Ottawa to sandal clad farmers in Saigon during the Tet Offensive. Inevitable tactical defeat for strategic positioning. The Convoyists are higher than kites right now. High on power. Success beyond their wildest dreams. The lil potato & his merry band of political operatives have welded together populist malcontents into something starting to resemble a cohesive force. The Convoy shock troops got on a lucky streak. Getting inside the wire, setting up logistics, reinforcements, supply lines, initially without pushback. But the greatest stroke of luck was being bookended by the left wing populist shock troops. Sending truckers fleeing for their lives in the middle of the night out here in B.C. Thats a dagger at the throat of Liberal Hegemony.
A significant minority of small town western populists have now coalesced . These Convoyists made their “bones” & are now accepted in the MAGA family. American media is giving them millions of eyeballs. Canadian media blacklisting has been broken. Too bad Convoy haters, but looks like you better start prepping for a long low grade war. Pick your side wisely. Our ranks are swelling. Nothing like a jackboot on the back of the neck of the middle & working class to boost recruitment.
Boring Eastern Canadian elite pearl clutching keyboard warriors. In the most Boring capital of a most Boring country. In the middle of a Boring winter. At the end of a Boring epidemic. You needed a little Excitement in your life. And you got it. And will continue to get it. Good & Hard.
—
Lol, someone’s triggered.
Nice fantasy, lots of wishful thinking.
Bizarre how some folks just want to see the world burn.
For me the numbers don’t make sense. 200k combined salary, 300k savings, and 40 years old. If the guy really really wanted to get a bigger down payment they could have sacrificed and saved as much as they could… no eating out, new clothes, netflix, vacations… its possible to have fun with just a library card.
If he has a job that pays him so well, we can assume he has a brain and he should know that 300k in a savings account is an awful idea. There are some relatively safe ETFs where he could have parked his money while waiting.
R.e. Recent car price discussion.
Looking to get a new F150, custom ordered. Local dealer offered me just $400 off sticker price….but for my trade in they offered me what I paid for 2 years and 40,000km ago.
Used car prices are nuts.
So at the end of the day I reckon I’m actually getting a better deal than in the ‘before-times’ as my increased trade in value more than compensates for the usual sticker price discount.
#87 CD
its possible to have fun with just a library card.
————————–
You must have quite the library in your town.
There are no lockdowns. – Garth
Perhaps I should rephrase.
The crowd restrictions, the business closures, the endless changing rules and waffling politicians.
Two years and people are done with all of it.
The last thing people want is more posturing from Trudeau.
He’s kicked the hornets nest….lets see if he’s smart enough to avoid getting stung.
@#88 Fanboy
“Looking to get a new F150, custom ordered. Local dealer offered me just $400 off sticker price….but for my trade in they offered me what I paid for 2 years and 40,000km ago.”
++++
How long will it take for the new truck to be delivered?
A couple of months?
and
Watch the “dealer fees”…. get that in writing before you sign.
I’ve heard some horror stories lately of dealer fees of 3, 4 , 5 k when the new vehicle arrives.
“And we are also resigned to rough it in this small apartment at least until the twins are school age and we move to a bigger rental in a better neighbourhood.”
Prepare for that not to be possible. Also prepare for the possibility you’ll house these kids until they’re thirty. Not because any of you want that to be the case.
We stayed in downtown Toronto until ours were 11 and 13 and then really just had to get everyone a bedroom with their own door and a non-party (read: second hand MJ smoke) wall. Ridiculously glad that we did it when we did.
2 more weeks maybe? Hunker down, many more years of WW3 to go.
Even my taxi driver today knew the score. That this is an externally funded coup by the far right. With a goal to getting PP in. Lockdowns4ever
“‘Threat still exists’: Emergencies Act to remain as long as required, Bill Blair says”
https://globalnews.ca/news/8634489/emergencies-act-use-freedom-convoy-bill-blair-west-block
— From AUG last year:
#24 TurnerNation on 08.28.21 at 1:06 pm
Things which have the permanency in Kanada:
1. Fictional ‘State of Emergency’.
2. Flags at half mast
3. CV Rules. Always the rules Comrade.
—–
—–
.JPMorgan Now Expects Nine Straight Fed Rate Increases Until March 2023 (barrons.com)
^^From April/2021:
#16 TurnerNation on 04.08.21 at 1:06 pm
I’d bet on a sever consumer recession 2020-2024 in Kanada
Pick any two:
– Rising interest rate.
– Tighter credit regs.
– Selling ahead of Capitals gains tax on Principle residence.
– 20+% unemployment due to cripping rolling Goverment shutdown Sanctions.
– 65% of employees in Ontario, are considered “Essential”. 35% will get the UBI
– Job Losses in New Green Deal:
#87 CD on 02.20.22 at 9:06 pm
For me the numbers don’t make sense. 200k combined salary, 300k savings, and 40 years old. If the guy really really wanted to get a bigger down payment they could have sacrificed and saved as much as they could… no eating out, new clothes, netflix, vacations… its possible to have fun with just a library card.
If he has a job that pays him so well, we can assume he has a brain and he should know that 300k in a savings account is an awful idea. There are some relatively safe ETFs where he could have parked his money while waiting.
*************
How about we just celebrate their ability to save…they can now invest with a good amount. At least they are on the right path.
Life happens.
Im also a leftie who enjoys and appreciates your blog. It’s ok to disagree with others and have strong opinions. It’s not ok for people on either side of the spectrum to try to force their views on others. Don’t want to fly a flag? Then don’t. But don’t steal other people’s flags to force them to conform. Don’t want to get vaccinated? Then don’t. Protest all you want. But don’t use the war tactics of blockades and anarchy to force other people to conform. The problem with extremists of all stripes is that they think their freedom matters more than that of others. They think they’re right. There is no debating with them because they have the truth. If the political spectrum is a circle them the extreme right and the extreme left sit side by side. They are a threat to the freedom of everyone who does not share their views. Conservatives like you and lefties like me share the common goal of continuing to want to share a democracy.
#91 crowdedelevatorfartz on 02.20.22 at 9:46 pm
@#88 Fanboy
“Looking to get a new F150, custom ordered. Local dealer offered me just $400 off sticker price….but for my trade in they offered me what I paid for 2 years and 40,000km ago.”
++++
How long will it take for the new truck to be delivered?
A couple of months?
and
Watch the “dealer fees”…. get that in writing before you sign.
I’ve heard some horror stories lately of dealer fees of 3, 4 , 5 k when the new vehicle arrives.
**********
Cost of supply chain increases and shipping costs cause they have brand power and can pass the costs on. They get theirs every single time.
Nightclubs are now open in BC…and someone was stabbed on Granville St. Back to normal. The drink prices no doubt went up.
#91 Crowdedelevatorfartz “ How long will it take for the new truck to be delivered?
A couple of months?
and
Watch the “dealer fees”…. get that in writing before you sign.
I’ve heard some horror stories lately of dealer fees of 3, 4 , 5 k when the new vehicle arrives.”
——————
Oh I’m expecting 3-6 months delivery…if I’m lucky. And for sure I ain’t doing anything without confirmed pricing in writing.
In all our history it has been shown that once a government takes a power grab, they never walk back.
False. T2’s father walked back the War Measures Act after using it to corral the separatists. – Garth
#71 fishman on 02.20.22 at 7:28 pm
Cops 1 Truckers 0: Sorry for your loss. Not necessarily so. Compare western Canadian small town hillbillies infiltrating Ottawa to sandal clad farmers in Saigon during the Tet Offensive. Inevitable tactical defeat for strategic positioning. The Convoyists are higher than kites right now. High on power. Success beyond their wildest dreams. The lil potato & his merry band of political operatives have welded together populist malcontents into something starting to resemble a cohesive force.
———
I wonder if this convoy would have happened at all if it wasn’t for Trudeau and the CBC. They seem totally detached from reality and the real-life resentment their rhetoric is building up. Canada really is changing under Trudeau – and not for the better.
I agree this convoy could not have turned out better for the protestors. The Trudeau Liberals are now seen as a stand up comedy act not just in Canada, but globally. He was handcuffed by the eye of international media, and not even the CBC could save him. It was such a resounding win, I expect Left Wing protests of the future will employ the same tactics and ideas the truckers did. The truckers thoroughly undressed Ottawa and the Canadian media, and they lit a fire that crossed oceans.
The protest was fashioned around cultural and class division – those ideas literally sent ripples around the globe. This truck protest focused more international attention on Canada than anything since WW2. Almost all of it pro-trucker. IMHO, much will change from here on out wrt civil disobedience. The culture war has smashed borders and is now officially global. This is just bad all around, super bad.
Did I mention this is bad? It was totally avoidable, but for one politician who just absolutely can’t control what comes out of his mouth. Is this what Trudeau wants? Foreign power, money, and boots alight on Canadian soil in support of a global culture war?
#77 BigD on 02.20.22 at 8:27 pm
Question. If I ask a question on this blog, do I really have to go back to the comments to see if it is answered?
____________________
I know. Hard to believe in this day and age but the curmudgeon calls the shot. And if you don’t like the 1980s, then too bad.
Perhaps you thought that nobody had responded to your questions.
Some of today/tonight’s posters maybe could take a look at the latest from Angus Reid.
Careful, you might get triggered.
https://www.bbc.com/news/business-60403547
Cost of living: Heineken to put up beer prices as costs soar
By Beth Timmins
Business reporter, BBC News
Was a stable CPI factor.
Great news, I hear Marshall Law is going to be a real game changer for the rental market. Moving a good chunk of the population into “government housing” should ease rental rates.
#86 KLNR on 02.20.22 at 9:00 pm
@ #71 fishman on 02.20.22 at 7:28 pm
Lol, someone’s triggered.
Nice fantasy, lots of wishful thinking.
Bizarre how some folks just want to see the world burn.
—————-
I think you’d be wise to take an objective view rather than just getting trig’d by Fish’s post. This convoy absolutely was a global phenomenon. Money from all over the world poured in. Think about it, do any of these international donors actually give a rip about Canadian Politics?
Ask yourself how a bunch of Canadian Truckers received like 20 million in support. Ask why most of it came from outside our borders. Ask yourself if it was really just Covid mandates that got national leaders from around the world commenting on this nondescript frozen rabble of Canucks. Ask yourself why Trudeau is getting sliced into bacon strips via the international media.
Methinks you’re missing the big picture homie. There is actually a ton to unpack here, and Fish has a lock on part of it. There are already folks commenting on how the protest game in Canada will change due to this convoy. Right now, there are folks in other parts of the world who couldn’t connect a beaver or a Mountie to Canada, but they know the Canadian flag means angry truckers and “fighting for freedom”.
#50 Faron on 02.20.22 at 5:58 pm
Garth dropping truth bombs today.
Sail Away, see Garth’s response to #30. you are wrong. again.
The sullying of the flag reminds me of the status change the US flag underwent when Dubya invaded Iraq under false pretense. recall lots of shouts of FREEDOM then too. not to mention the eponymous fries. back then, young Americans unravellin abroad would stitch the Canadian flag to their pack so as not to be shunned. the Canadian flag’s capital took a big hit this last month.
——————————
Yeah.
I remember.
“They hate our freedoms” was my favourite slogan.
#71 Fishman
You’re starting to scare me.
#90 crowdedelevatorfartz on 02.20.22 at 9:40 pm
There are no lockdowns. – Garth
Perhaps I should rephrase.
The crowd restrictions, the business closures, the endless changing rules and waffling politicians.
Two years and people are done with all of it.
The last thing people want is more posturing from Trudeau.
He’s kicked the hornets nest….lets see if he’s smart enough to avoid getting stung.
—————————
Instead of rephrasing, maybe you should check your facts before posting.
Or, even better, not posting at all.
Sad to say this but if I was a new Investor, I might hold off for a week or two…or eight…. I believe it is possible, that Russia will annex the Ukraine, and that shortly thereafter China will try to take Taiwan. Both Superpowers are being threatened to some degree by Social Media, and their respective experiments with open social media and international travel. Throw in the Virus, as a domestic threat… another reason to consider major changes are imminent….These two countries, are in stronger positions, to Militarily act convincingly. The fact that Russia and China have both, been stockpiling Gold, is also quite disconcerting. If they gain, power in the Asia Pacific corridor, they could challenge the Reserve currency status of the US dollar. China also needs the Semi Conductors, and they were not unsuccessful in Hong Kong, and who would have thought I may never get at trip to HK to the new territories, again.
I lived in Asia for 20 years, and I don’t think these two major Superpowers, are content with the status quo with the USA as the dominant player… China just installed 275 miles of large monitored Live Wired contiguous fencing between the Borders of Vietnam and Laos, as far as the eye can see…weaving through the mountains… to keep people out or people in??? Google the pics, quite the Wall. Local villages can no longer trade with one another… remote villages, in bordering countries.
I wish everything I just said, was not true, but when a Think Tank like WEF, has infiltrated our Cabinet as was so suggested by the founder one can realize some of the errors of Leaders like Macron, Trudeau, Biden, et al…The World Economic forum, does seemingly good things, diplomatically, but our Leaders, are using up a lot of time, while others are finishing the race.
The other quite Sad reality is that these two new Superpowers, can probably get away with it, with minimal losses. They may reclaim, a much more powerful, position, in the Financial sector as well… But I am probably a conspiracy theorist.
Other than the threat of a major war, stick with the Boglehead’s 10 commandments. Let’s hope I am off base on my worries.
#99 Not Gretzky
The protest was fashioned around cultural and class division – those ideas literally sent ripples around the globe. This truck protest focused more international attention on Canada than anything since WW2. Almost all of it pro-trucker. IMHO, much will change from here on out wrt civil disobedience. The culture war has smashed borders and is now officially global. This is just bad all around, super bad.
—————————-
The War Measures Act by Trudeau the Elder had a much more international attention.
I was just about to emigrate to Canada and had converted all my money into Canadian.
And then, within a couple of days the CD dropped about 30 percent.
Good thing, I did not have a lot of money.
#99 IHCTD9 on 02.20.22 at 11:06 pm
#71 fishman on 02.20.22 at 7:28 pm
Cops 1 Truckers 0: Sorry for your loss. Not necessarily so. Compare western Canadian small town hillbillies infiltrating Ottawa to sandal clad farmers in Saigon during the Tet Offensive. Inevitable tactical defeat for strategic positioning. The Convoyists are higher than kites right now. High on power. Success beyond their wildest dreams. The lil potato & his merry band of political operatives have welded together populist malcontents into something starting to resemble a cohesive force.
———
I wonder if this convoy would have happened at all if it wasn’t for Trudeau and the CBC. They seem totally detached from reality and the real-life resentment their rhetoric is building up. Canada really is changing under Trudeau – and not for the better
————
Convoy leadership arrested, jailed, bailed, and up on many charges. A few convoy leaders have expressed their deep remorse for allowing themselves to be mislead.
Trucks, cars, and assets of convoy participants seized.
A large percentage of the country in complete disagreement (and shock) with the actions of convoys and their actions against their own fellow Canadians.
The weaponization of our Canadian identity, our flag, and our values – making many fellow Canadians (the majority) feel shame.
Sounds like a great success for ‘the truckers’.
It’s not Trudeau and the CBC whom are detached from reality.
Anyone who sides with and condones the actions of the convoys needs a reality check. The convoys attacked fellow citizens. Why? Because a minority of the population can’t get onboard with health measures that help protect themselves, families, and neighbours during a health crisis. Very un-Canadian.
I have yet to hear a single well defined argument as to justify these convoys. It always boils down to believing in conspiracy theories and Dunning-Kruger.
#76 Another Deckchair on 02.20.22 at 8:14 pm
@64 Fishman;
I just hope that the convoy truckers (99% of them) figure out that they were used.
That’s the real sad story here; they were the cannon fodder. Fed pablum that sounded like an elixir, got burnt.
Political jockeying 2; cops 0; truckers 0
———
Close. IMHO, they weren’t used, they were exploited, and their “movement” was reappropriated. The truckers don’t care about that at all. It was all good news for them, more hand grenades lobbed in the same general direction for no cost. The convoy sold the rights to their mandate protest to clients who then rebranded it as “freedom fighter” and put it up for resale. Classic badge engineering.
I’d say the truckers, jockeys, and cops all won. The losers were Canadian politicians, and the Canadian citizenry.
What are people’s thoughts on the international damage to the prestige and reputation of our financial institutions?
The Prime Minister from a party that hasn’t gotten even a plurality of voters since 2015 illegally invoked absolute power and is seizing the bank accounts of anyone supporting a peaceful protest against his government. The Trudeau regime is Belarus tier.
“truckers rendered the Canadian flag a hate symbol”
Please stop Garth. You are better than that.
Mike should have bought the 5 plex . He not only missed the jump in prices but he could have had a very capable income producing property. His lost opportunity cost him big time.
I can’t believe some people here congratulating the protesters. The only reason they pulled this crap off because they knew they could get away with it. The protest was backed by U S A money and people know it. I hope the law goes far and deep after these cowards. Mention the EM act and those farmers ( cowards) sure moved those tractors out fast.
Those protesters and their supporters being duped in more than a few ways. Kinda feel sorry for them.
‘In the case of the Freedom Convoy accounts, many of the largest Facebook groups involved appeared to be run by fake accounts or content mills hailing from numerous countries.’
https://www.theguardian.com/media/2022/feb/20/facebook-disinformation-ottawa-social-media
From my experience, it takes quite a while to shift a pair of TSFA’s, an RRSP, and a USD acct to a financial advisor and get all of the documentation couriered back and forth for signatures. In our case more than a month.
The value of equities will be different from today in several weeks, so Mike is safely not invested in war turbulence while the due process is completed for him.
Then, their advisor will present them with a shopping list of suggested buys.
He can cherry pick and enter into purchasing any of them, in any portion of the suggested amount of each, at any time he pleases, should he wish to do so, while he pays the annual fee on the entire nut.
This is an unusual year.
I sold 60k of equity ETF’s Dec 30.
I re-bought and resold some, still going down losing me 2.5k. 90% of those are still further down, so not all is lost.
If I bought everything back at todays price, I would be 3.5k ahead still, on the same number of total shares compared to January 3rd prices.
I did purchase about 15k on Thursday, locking in savings, by picking up one free share of SPY for example.
You are told not to pay attention to your portfolio, but I finally noticed my bond ETF’s have been on a steady decline for about half a year, so I liquidated them a couple of weeks ago, and have already saved more than their annual dividend in value. Bond prices move like a turtle, so that market CAN be timed.
Just perhaps, CDN financial instruments are in the same bubble as RE. CDN’s don’t sell stuff! Maybe all of the new TSFA contributions have propped the TSE, compared the the downed NY market.
Also, just perhaps, when one year GIC’s get back to 3%, the ETF’s that have a 2% dividend, or less will fall out of favor, and the S&P will live at 3000 points, not 4000+.
Anybody see the futures go green last night at about 9EST ? That was when Macron made the summit statement. Back to red this AM.
A volatile year ahead, Mr. Turner told us in December.
@#107 Ponzie’s Pejorative Posting Patterns
“Instead of rephrasing, maybe you should check your facts before posting.
Or, even better, not posting at all.”
++++
Ran out of coffee Ponz?
Sipping bitter root tea again?
Try a spoonful of sugar.
Relish in the inevitable implosion that is the govt of Trudeau The Younger.
Nowhere near the intellect of his father with advisors that should be ensconced in some harmless occupation like pushing paper back and forth at the United Nations rather than actually running a living , breathing country.
Or better yet let all that anger just flow away with another sugary cup of bitterroot tea.
Think happy thoughts and
Hum your favourite “Austrian” actresses’ tune.
https://www.youtube.com/watch?v=_L4qauTiCY4
@#101 Ustabe
“Some of today/tonight’s posters maybe could take a look at the latest from Angus Reid.”
++++
I think there’s a new invention called a Link?
https://angusreid.org/federal-politics-january-2022/
These out of date polls aren’t indicating a Trudeau “home run” if an election is called tomorrow.
Another insipid minority govt tossing billions on to the bonfire of National debt to get any type of lift in voter gratitude.
If a leadership review or an election were held tomorrow…..
He’s toast.
These polls are interesting.
https://338canada.com/
The leaderless Conservatives are doing rather well.
One wonders how the Liberals would poll without the current leader.
10 points ahead? 20?
Mark Carney take note.
“If you had all cash would you choose a b/d”? Hell no. If I was to start all over I would choose Bitcoin and equities in US accounts where legal asset confiscation wouldn’t be considered.
” That’s crazy” you say. Look what just happened with Trudeau confiscating your assets. Think it won’t be your turn next? What’s happens when your opinion or voting pattern, or my race, or whatever Trudeau decides to attack and is deemed unacceptable by Trudeau?
BTC is now the only absolutely safe investment for Canadian investors. I’m already doing it, started long ago, but Trudeau proved me right with energy and that started my shift. Canada is not investible.
$20 says that provisions of the “Emergencies Act” made permanent will to morph into the backbone of a new “Climate Emergencies Act”. It’s a cinch that NDP and Greens will back that.
Never let a good crisis go to waste.
Strange days. Talked to the third person this morning who is fleeing Canads to avoid having their assets seized.
A never ending state of emergency where a socialist government arrests you and confiscates your property if they find you have the wrong political leanings.
Venezuela?
Nope.
Canada. Led by Castro of the North and his spunky side kick.
Wow. Just wow.
You need better friends. And please stop posting here. Contributes nothing constructive. – Garth
#115 unbalanced on 02.21.22 at 6:18 am
I can’t believe some people here congratulating the protesters. The only reason they pulled this crap off because they knew they could get away with it. The protest was backed by U S A money and people know it. I hope the law goes far and deep after these cowards. Mention the EM act and those farmers ( cowards)
sure moved those tractors out fast.
+++++++++++++++++++++++++++++++
It’s shame that our PM so deeply divided Canadians that some now feel emboldened to follow his lead and demand retribution from other Canadians.
The stakes in this protest were miniscule in the beginning. Trudeau could have stopped this convoy in it’s tracks in Winnipeg with a couple of cups of double-double, and a 20m pack of Timbits and some parlay.
And now look at the mess we created. All of us. There are no winners, heroes or cowards here; just all of us losers.
Best part of this article is what the NDP leader said about the Emergency Act, multiple levels of justice in our country now as certain groups are allowed to violently protest and because of their cause it will be condoned.
http://www.msn.com/en-ca/news/other/kelly-mcparland-complacent-canada-is-changing-and-our-politicians-haven-t-a-clue/ar-AAU6Hpf?ocid=msedgntp
#112 Munreal on 02.21.22 at 1:45 am
What are people’s thoughts on the international damage to the prestige and reputation of our financial institutions?
The Prime Minister from a party that hasn’t gotten even a plurality of voters since 2015 illegally invoked absolute power and is seizing the bank accounts of anyone supporting a peaceful protest against his government. The Trudeau regime is Belarus tier.
———-
I doubt it will be much, the banks are being directed under force of law. They don’t have a choice. Invoking the EA wasn’t illegal, and it should be pretty clear at this point it was done almost exclusively to allow the Police numbers to swell (legally) to deal with the remaining truckers. Evidently there are Laws in place in Canada that prevent politicians from just sending in the tanks against it’s own people. That why this protest lasted right up till the EA was invoked. OPS didn’t have the resources, Sloly said this non-stop right up till when he was “booted”.
After the EA was invoked, the Police didn’t charge the crowd with water cannons and mace. They did about as peaceful and non-violent a job as could have been done. Kudos. Even Trudeau’s (normally toxic) rhetoric around using force against the protestors was on the money. You don’t send a few cops into a huge crowd without giving them machine guns. A peaceful roundup requires a huge presence and great tactics, the EA provided the former, and the OPS the latter. 3 days later the streets were clear.
I’d be careful about jumping to conclusions too quickly on why and how the EA was used. To me, Trudeau didn’t have much choice if Canadian laws are in place which prevent him from assembling the force required without invoking the EA. If this is the case, it actually gives me a warm fuzzy feeling in my belly. I *want* it to be near impossible for a handful of politicians to assemble a large force against the people, and this appears to be the case.
I’m no fan of Trudeau, but so far as using the EA for cleaning out the streets, it seems to have been employed with an exceedingly light touch, and it finally put an end to the protest without staining the streets red. The Police forces involved did an incredible job.
We’ll have to wait a little longer to see what’s going on regarding bank account seizures.
Shame on you Garth Turner.
That you continue to support a government that actively seeks to shut down dissent to its nutcase policies is truly shocking.
If you seriously believe that individuals contributing $50 to a funding site, should have their financial accounts arbitrarily frozen, then you are the problem.
If you seriously believe that shutting downtown Ottawa through legally protected non violent protest
is an act of terrorism then you are the problem.
If you seriously believe that the CBC is a non biased media outlet, then you are the problem.
If you actually think that a government that takes illegally hacked user data, from a legal fundraising site, and then uses said illegally obtained data, as means to persecute contributors to this site (which by the way is supporting a legal and Charter protected activity), then you are the problem.
Just a reminder of the Charter of Rights and Freedoms
2 Everyone has the following fundamental freedoms:
(a) freedom of conscience and religion;
(b) freedom of thought, belief, opinion and expression, including freedom of the press and other media of communication;
(c) freedom of peaceful assembly; and
(d) freedom of association.
However, the Charter really is a meaningless document now, as pretty much every level of government has overridden every section of it. And they will continue to do sell long after any emergency pandemic issues.
I mean seriously, if they will pass an emergency measures act to deal with a bunch of happy protesters, partying in downtown Ottawa, well Canada is truly screwed. Highly likely they will make the Emergency measures just permanent.
Easy to just pass some legislation to override your rights. It’s the Liberal way.
So, what will be next?
The government will certainly decide that only certain political parties are acceptable, the rest being terrorists.
Political parties such as the PPC, Maverick, likely the ‘radical alt-right’ Conservatives will be banned.
Anyone supporting or contributing to these parties will therefore be subject to having their financial accounts frozen, etc, etc.
Then it will be media.
Any media outlet not ‘officially sanctioned’ by the dear leader will be banned as ‘enemies of the state’ and
designated as terrorists. They pretty much do this now anyways, funding the ‘acceptable’ media and banning the ‘deplorable media’ from attending their events.
Note: To date the courts, thus for have sanctioned the Liberals for this, but they just need to pass a law.
Similarly, any content posted online by citizens will be actively censored by government, and the contributors will be subject the the full force of the law for posting anything contrary to official party policy.
This will take the form of freezing accounts, restrictions on travel, perhaps what you are able to purchase, probably the level of government service you can obtain. (Social Credit Score anyone?)
Forget having any government service such as health care or pensions. Nope, you have been deemed to have the wrong ideas (Trump supporters especially) so you are of course racist, misogynistic, white supremacist, homophobic, transphobic, Nazi loving deplorable.
Crazy you say?
Naive you are.
Hysterical you are. – Garth
#109 Ponzius Pilatus on 02.21.22 at 12:55 am
The War Measures Act by Trudeau the Elder had a much more international attention.
I was just about to emigrate to Canada and had converted all my money into Canadian.
And then, within a couple of days the CD dropped about 30 percent.
Good thing, I did not have a lot of money.
————
Not sure. PT had to deal with a real crisis with the FLQ who were actually murdering politicians. Those are much more serious headlines than truck protestors chilling in a hot tub, setting up bouncy castles, and playing street hockey. It must have made the (paper) news all over the West (before my time).
But today we have the www and social media. I doubt Dong Biwu president of the PRC even knew what was going on in PQ back then, much less personally ripping on PT as Xi Jinping is doing to JT today regarding the truck convoy.
#4 Apocalypse NOW
We are not on the precipice of a horrific global catastrophe.
Russia is going to recognize independence of the two occupied territories and back off. May be some missile strikes. But even that is unlikely, as Russian missile is a fairly indiscriminate weapon. It operates by postal codes. There is no way for Putin to invade with Ukraine’s new anti-tank and air defence.
Putin paid perhaps a billion dollars to kill 3000 Ukrainian soldiers in 2014. Close to 30000 dollars each.
* This time around it’s going to be way more expensive per soldier because the Ukrainian army is prepared.
* In an attempt to go all the way to Kyiv he’d have to kill way many more. Say, up to 10000 before some sort of a truce is negotiated.
* USSR didn’t handle well the 15000 casualties in Afghanistan. In Ukraine it could be 2x as many. Russia’s tolerance for casualties is much lower than USSR, especially for a war with Ukraine. For many Russians the notion of a war with Ukraine is absurd. In their minds the war is with some mythical nazis or NATO, not with Ukrainians. But the TV illusions may dispel quickly once things get real. Nicholas II got himself and his family shot for doing stupid wars.
Biden is an old cold war warrior. He recognized things for what they are and made the costs prohibitive for Putin.
Problem is that Putin is the first KGB guy to ever run Russia/USSR (Andropov was a party guy). He likes chaos because of his tactical thinking. Lying is his primary tool. That’s not a strength, that’s a weakness. He never had to go through the communist party training and selection.
This makes him different from the post-ww2 party people that the world had to deal with during the cold war. But he knows very well when he is about to get seriously hurt and he is not ready for it. He’s not crazy, as in crazy who does not consider consequences of his actions.
So chill. Soon gonna be time to buy.
+++ #98 Richard on 02.20.22 at 11:02 pm
In all our history it has been shown that once a government takes a power grab, they never walk back.
False. T2’s father walked back the War Measures Act after using it to corral the separatists. – Garth
++++++++++++++++++
Trudeau’s deputy, Chrystia Freeland, who is also a director of Klaus Schwab’s World Economic Forum, says she plans to make her emergency powers permanent.
https://mobile.twitter.com/ezralevant/status/1494852056145969155?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1494852056145969155%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.zerohedge.com%2Fpolitical%2Fcanada-moves-make-asset-freezing-under-emergencies-act-permanent.
No she doesn’t. The only reference is to Fintrac oversight, which is legitimate and overduie. More lies like that will get you banned from here. – Garth
It’s hard to say if anything will come of the protest. Pretty forgettable, honestly. Nobody hurt, no concessions granted, nothing damaged. Pretty similar to the occupy wall street protests in terms of impact (i.e.: none).
They may even bolster Trudeau’s standing because he did act decisively, which is something.
Moving on…
Alcohol increases the size of the SUBMIT button by 93%
#98 Richard on 02.20.22 at 11:02 pm
In all our history it has been shown that once a government takes a power grab, they never walk back.
False. T2’s father walked back the War Measures Act after using it to corral the separatists. – Garth
+++++++++++++++++++++
Trudeau’s deputy, Chrystia Freeland, who is also a director of Klaus Schwab’s World Economic Forum, says she plans to make her emergency powers permanent.
https://mobile.twitter.com/ezralevant/status/1494852056145969155
Surely you are smarter than to get your information from Ezra Levant? IN any case, Freeland says Fintrac should have oversight of crowdfunding and online payment platforms to prevent the flow of capital into activities which are illegal and weaken the democratic structure. How can reasonable people disagree with that? – Garth
In good news, here’s a new litter of Munsterlanders. Everyone loves puppies:
https://m.facebook.com/fourpointkennels/
#101 Ustabe on 02.20.22 at 11:27 pm
Some of today/tonight’s posters maybe could take a look at the latest from Angus Reid.
Careful, you might get triggered.
============================================
Governance-by-opinion-poll is a big part of the mess we’re in.
But you do seem like a tyranny of the majority type of guy so that fits.
“Yes. We know both extremes have sullied our nation’s symbol. Time to change.”
So disappointed in you Garth.
It sounds like Trump’s “there were good people on both sides”
You can’t possibly compare the Canadian Retrumplican Convoy, to the legitimate grievances of the progressive left.
Not Fair.
Both sides stole my flag. I resent that. – Garth
#115 unbalanced on 02.21.22 at 6:18 am
I can’t believe some people here congratulating the protesters. The only reason they pulled this crap off because they knew they could get away with it. The protest was backed by U S A money and people know it. I hope the law goes far and deep after these cowards. Mention the EM act and those farmers ( cowards) sure moved those tractors out fast.
*************
Yup…letting their political blinders wade into an illegal activity. You break the law you get arrested. They broke the law first, that is why they were arrested.
Imagine if they blocked your street and folks were unable to get out of their houses? Or they protested in front of a school like one nutbar did and started yelling at your children or the ones calling health workers out for doing their jobs and saving lives. But because the protestors were trying to gain attention to create political havoc…it’s ok? FFS!
When someone says they are left or right I hope to Dog they don’t realize they are neighbours on the political spectrum (as Jessica indicated). History is full of the right and the left intolerance and killing. Time to start using both parts of the brain.
I don’t like Trudeau’s leadership, but I respect the rule of law.
Notice how Kenney and Pierre stepped back?
#112 Munreal on 02.21.22 at 1:45 am
What are people’s thoughts on the international damage to the prestige and reputation of our financial institutions?
***********
Damage like this…
https://globalnews.ca/news/8069823/inflation-bank-of-canada-governor/
Don’t ‘overreact’ to temporary inflation, Bank of Canada governor says
By Staff Reuters
Posted July 29, 2021 8:54 am EST
Scary stuff:
https://www.cbc.ca/news/business/priced-out-column-don-pittis-1.6354975
I can’t read any Canadian news these days without confronting a horror show of some kind. Indefatigable housing price increases, cryptic levels of debt – both private and public, and now core inflation increases might be hardening for the long term alongside stagnant wages?
The BOC is going to be busy this year. This will probably set the stage for a lot of pain if a few rate hikes won’t pull inflation back down. The article doesn’t seem to be suggesting it would.
Think about the fallout of rising cost of money, skidding RE wealth, falling net worths, wallets closing, even more anger in the social fabric, 400k/yr immigration rates, all sautéd in a rising price of everything environment.
From the article:
“But if the Bank of Canada and the U.S. Federal Reserve begin to crack down on “everything inflation” with higher interest rates while wages continue to fall behind, it will be up to elected officials to make sure that the ordinary people who vote them into office are not the ultimate losers.“
What’s Trudeau going to do? Pump even more borrowed $$ into the system? Tough year coming for the Libs.
#115 unbalanced on 02.21.22
__________________________________
Mentally imbalanced more like it.
The Globe Editorial board cried uncle this morning.
Full page article front page news “it’s time for parliament to end the state of emergency ”
Rich folks don’t want a socialist government digging too deep into their political affiliations.
Could get expensive.
Watch for our major MSM outlets one by one to fall in line against Trudeau’s socialist purges.
This is going to get messy.
#9 I don’t know on 02.20.22 at 12:54 pm
Sound advice, as usual.
If Mike cannot afford real estate in downtown Toronto, than he should absolutely put the cash into a balanced and diversified portfolio. The sooner the better. It’s obvious at this point that trying to time the market is impossible. Paralysis by analysis is real, and hiding in cash, hoping that the central banks will do the heavy lifting for you while you wait for the next crash is destined to fail. Put the money in, ignore it, and rebalance as needed. Also ignore social media driven conspiracy theories. it’s simply shock value that preys on emotions (usually fear) for clicks and engagement (ad revenue).
“And mostly they have time – and are happy not to fall victim to the real estate porn which is society’s addiction.”
-Not entirely true. Can we call it an addiction if there are huge numbers of people looking to purchase real estate to raise families? Who want stability? Who want pride of ownership? Who want to be long term parts of their communities and lay down roots? As this blog has correctly pointed out, some areas are more bubbly than others. Plus, there are huge demographic trends at play here with millennial nesting and family formation, which is contrubting to heavy demand for SFD. Prices are simply reflecting demand, and will continue to do so. Buy when you can afford (with a backyard).
IDK
***********
Your ability to leave out facts is Trumpian…20-25 % of sales are from investors.
Trump’s new app has launched. Now you have a reference for all your facts.
#103 Jon B on 02.21.22 at 12:04 am
Great news, I hear Marshall Law is going to be a real game changer for the rental market. Moving a good chunk of the population into “government housing” should ease rental rates.
Is this Marshall Law any relation to Jude Law?
Or perhaps you mean Martial Law?
Canada to remain permanently in a state of national emergency!!!! I predict this this morning.
This government is at war with it’s people. Get used to it.
Stated at 11 minutes.
https://www.facebook.com/watch/live/?ref=watch_permalink&v=1295697360913073
The government is going to use this to thwart any “theoretical insurrections” even if imagined – but the double speak, of course, is that they ‘won’t keep it any day longer than necessary’…just like all the emergency measures in the last few years.
hahahahaahahah Canada is finished.
I officially LOVE THE NEW NORMAL! I’m excited to be happy, and own nothing.
https://www.msn.com/en-ca/news/canada/parliamentary-budget-office-says-homes-are-less-affordable-despite-low-interest-rates/ar-AAU068b?li=AAggNb9
132 Ustabe on 02.21.22 at 12:09 pm
#103 Jon B on 02.21.22 at 12:04 am
Great news, I hear Marshall Law is going to be a real game changer for the rental market. Moving a good chunk of the population into “government housing” should ease rental rates.
Is this Marshall Law any relation to Jude Law?
Or perhaps you mean Martial Law?
—————————
Marshall Law is were Marshall Plan and Murphy’s Law intersect.
https://mobile.twitter.com/ezralevant/status/1494852056145969155
Surely you are smarter than to get your information from Ezra Levant? IN any case, Freeland says Fintrac should have oversight of crowdfunding and online payment platforms to prevent the flow of capital into activities which are illegal and weaken the democratic structure. How can reasonable people disagree with that? – Garth
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Emergency powers to become permanent. From her lips to your ears. Watch the clip.
I did. And responded. Reasonable move to address AML and crowdfunding of illegal acts. – Garth
You need better friends. And please stop posting here. Contributes nothing constructive. – Garth
You’ve lived your life in a stable democracy. Good for you.
I have lived my life in various countries where governments have outlawed their political opponents and then attempted to purge them through arrests, asset seizures and travel restrictions.
I never expected to see this in Canada, but it is now happening.
I think you are massively off side here, and you have to wake up.
When the socialists come for you, they are not going to like you. A former conservative MP and cabinet minister who also has a large amount of money.
You are basically their lunch (and perhaps also their dinner).
It is time to declare support for the end of the emergency measures. If this continues it will become a political purge. And most of us are going to get run over by it.
Jessica #95
Im also a leftie who enjoys and appreciates your blog. It’s ok to disagree with others and have strong opinions. It’s not ok for people on either side of the spectrum to try to force their views on others. Don’t want to fly a flag? Then don’t. But don’t steal other people’s flags to force them to conform. Don’t want to get vaccinated? Then don’t. Protest all you want. But don’t use the war tactics of blockades and anarchy to force other people to conform…..
Wonderful and concise!
Ustabe on 02.21.22 at 12:09 pm
#103 Jon B on 02.21.22 at 12:04 am
Great news, I hear Marshall Law is going to be a real game changer for the rental market. Moving a good chunk of the population into “government housing” should ease rental rates.
Is this Marshall Law any relation to Jude Law?
Or perhaps you mean Martial Law?
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Or perhaps, Marital Law.
When invoked at my place it goes forward without appeal.
Cheers, R
When you stand behind your children, you are a coward! Why bring them to a protest?
#145 Prince Polo on 02.21.22 at 12:23 pm:
Hurry, hurry. hurry, get your free fresh off the press full report here:
https://www.pbo-dpb.gc.ca/en/publications–publications
These “Truckers” were paid to be there. That makes them employees not protesters. When the money dried up , the protest was over. There is no revolution coming because they are not even close to being a majority. It was all paid political theatre sponsored by a few right wing Canadian and American fanatics.
The real truckers were out on the road, moving freight .
Surely you are smarter than to get your information from Ezra Levant? IN any case, Freeland says Fintrac should have oversight of crowdfunding and online payment platforms to prevent the flow of capital into activities which are illegal and weaken the democratic structure. How can reasonable people disagree with that? – Garth
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That’s an easy one! The protest was never argued to be legal, or not legal, by a court of law – only be decree of the supreme leader. You are welcome to provide your own evidence, but aside from illegal parking, what else do you have evidence of the illegality of the Ottawa protest? They aren’t freezing the accounts from the border blockades after all.
The funds are being frozen by people who donated while the trucks were on route – how did anyone know what they were going to do once they got there with grandma’s $20 cause she can’t visit her grandkids? How did anyone know what BLM would do, and has done for years? Why should ANYONE be responsible for what people do with your DONATED MONEY? You are not an accessory to a crime because you donated? I guess people who donate to the church are in trouble? And heck, by the same logic, probably also anyone who donates their taxes to illegal governments! You asked, I answered.
This is nothing more than Justin Trudeau’s person vendetta – to stifle any and all criticism of his government. Conservatives are now scared to fill out petitions to end the war measures act because they fear government reprisal. Others are afraid to speak out on social media because their accounts might be frozen. This is all fine in Venezuela – bit odd here.
so is your boss 6months old?
…”Why would children own companies, including some with many millions of dollars worth of assets? In a family-run business, parents might want to give their children shares as part of a long-term inheritance plan. But the fact that many were not even born at the time the companies were founded — and parents sometimes nowhere to be seen in company documents.”
https://www.occrp.org/en/openlux/boss-babies-the-children-who-own-hundreds-of-luxembourg-corporations
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The result of this collaborative effort was Suisse Secrets, an investigation that uncovers how Credit Suisse has held accounts for corrupt politicians, intelligence officials, and other unsavory clients despite pledges to crack down on dubious funds.
Some of the OCCRP (organized crime and corruption reporting project ) and Süddeutsche Zeitung journalists behind Suisse Secrets will share their findings in a live webinar on February 24, from 18:00 to 19:00 CET.
I’ve never really been sure if Ezra Levant is truly that brain dead or if he’s just playing it for shock value. In any event Garth, when your readers start quoting/re-tweeting him, it’s time to shut the comments section down.
“Surely you are smarter than to get your information from Ezra Levant? IN any case, Freeland says Fintrac should have oversight of crowdfunding and online payment platforms to prevent the flow of capital into activities which are illegal and weaken the democratic structure. How can reasonable people disagree with that? – Garth”
I wonder if FINTRAC will be used to catch Trudeau when he is embezzling millions into various familial scandals as he defrauds the taxpayers of their money?
Your argument sits on a razor’s edge. Reasonable people, under reasonable leadership would see a big upside to making sure “democracy” is not perverted by outside forces. That is, of course, thinking the law would be enforced judiciously and without benefiting only those who seek to cling to power….what does history (even recent history) tell us would happen?
Trudeau ‘embezzling millions’? You are delusional. Go away. – Garth
#147 T2 or bust on 02.21.22 at 12:55 pm
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+ 1 thanks Comrade!
People deserve freedom and financial stability in Canada as we pay ALOT of taxes.
Just investigate the waste from politicians in the last 10 years. Make sure you are sitting down.
Its so disrespectful of hard working Canadians.
Shout out to Garth and crew trying to keep peeps steady through volatile and confusing times.
When you stand behind your children, you are a coward! Why bring them to a protest?
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Until the police showed up, this was a giant Canada Day party with a festival like atmosphere. Don’t take my word for it, rewind on a YT channel called Ottawalks and you will see with your very own eyes that it was a very positive experience with free food, bouncy castles, music, and dancing.
Until the police showed up, there was exactly zero violence, and zero vandalism. Plenty of illegal parking, however. I really think people should do a bit more research. The media only puts out exactly the talking points put out by Justin Trudeau. Why be lazy, there’s plenty of information out there. Do your own research.
IN any case, Freeland says Fintrac should have oversight of crowdfunding and online payment platforms to prevent the flow of capital into activities which are illegal and weaken the democratic structure. How can reasonable people disagree with that? – Garth
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Suddenly you’re a fan of Freelance and Trudeau’s sociopathic policies.
It’s a slippery slope Garth. Maybe they’ll actually jail you this year for again raising the “sullied” Canadian flag this year come Canada Day.
Money laundering is now facilitated through crowdfunding. Needs to be regulated. As I said, it’s reasonable. – Garth
Surely you are smarter than to get your information from Ezra Levant? IN any case, Freeland says Fintrac should have oversight of crowdfunding and online payment platforms to prevent the flow of capital into activities which are illegal and weaken the democratic structure. How can reasonable people disagree with that? – Garth
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Makes sense right?
But what is illegal and weakens the democratic structure? I would say the Liberals spending hundreds of billions on dollars of QE and causing huge inflation issues (remember Monetary policy is so passe) in the economy is weakening the democratic structure.
How about if I were to contribute to the PPC?
Am I now to be hunted down because the little dictator decides retroactively that this is an illegal activity.
How about investing in energy companies. How hard will it be for T2 and Freeland to decide tomorrow that the best way to solve the dreaded climate change, is to make investment in energy companies illegal. You know, for the sake of a democracy and for the kids. Yes its for the kids.
What about cryptocurrency. Surely owning that must be deemed illegal, otherwise think of the the threat to democracy. Oh and its for the kids, too.
You have stated in the past that T2’s idiotic policies were just because he was misguided.
Again, you are incredibly naive.
It is seriously time to consider moving assets out of Canada, and perhaps leaving this country altogether.
When this sort of [email protected] starts, it never ends well.
Okay, bye then. I think we’ll be better off with one fewer hysterical among us. – Garth
C O W A R D S. Bring them to a gun fight and stand behind them.
#150 Russ on 02.21.22 at 1:03 pm
Ustabe on 02.21.22 at 12:09 pm
#103 Jon B on 02.21.22 at 12:04 am
Great news, I hear Marshall Law is going to be a real game changer for the rental market. Moving a good chunk of the population into “government housing” should ease rental rates.
Is this Marshall Law any relation to Jude Law?
Or perhaps you mean Martial Law?
================================
Or perhaps, Marital Law.
When invoked at my place it goes forward without appeal.
Cheers, R
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Nice one…I thought the same thing.
The judge, jury and punisher all in one.
#151 Unbalanced. Your name tag declares your mental state for all to see. Your comment, IMO, is therefore irrelevant.
Sorry, #162, not #151.
Suddenly you’re a fan of Freelance and Trudeau’s sociopathic policies.
It’s a slippery slope Garth. Maybe they’ll actually jail you this year for again raising the “sullied” Canadian flag this year come Canada Day.
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Last post:
Suddenly you’re a fan of Freelance and Trudeau’s sociopathic policies.
It’s a slippery slope Garth. Maybe they’ll actually jail you this year for again raising the “sullied” Canadian flag this year come Canada Day.
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It’s a slippery slope as one moves away from rational thought in favour of political revenge.
I find it really funny that JT announced today that he will let go of the emergency act as soon as it’s no longer needed…it’s still needed, he claims, because people might rise again and protest his policies…so either you keep complying by force, or your own free will???
Seems like the same policies set out by the vaccine…either get vaccinated because you want to, or because we want you to (a lot).
The emergency act is only to get rid of unwanted voices – and will never be leaving any time soon, because people refuse to let JT be the only one to have a voice anymore. The NDP is no different and will celebrate JT’s power because their power is lock step.
So I hereby declare a permanent state of emergency – the same emergency state we’ve lived under for the last 2 years. The point of the emergency act is because of the act itself!
Enjoy the permanent state of emergency!! Why is everything an emergency to the Liberals and NDP! Either it’s all an emergency or none of it is :)
Money laundering is now facilitated through crowdfunding. Needs to be regulated. As I said, it’s reasonable. – Garth
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Reasonable under who’s governance? And what were their real motives for suddenly enacting it? Why the sudden concern crowd funding when Canada has been an illicit money laundering paradise for decades?
A gun may be reasonable in the hands of a responsible and level headed owner, but not so much in the hands of a vindictive narcissist.
Hi Garth,
In light of our political instability, and the threat of assets being “frozen” if ones political views are not in line with our PM, do you suggest offshore banking as a good alternative for those with sizeable assets?
No. – Garth
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Maria
“In light of our political instability, and the threat of assets being “frozen” if ones political views are not in line with our PM, do you suggest offshore banking as a good alternative for those with sizeable assets?”
Yes. Canada is no longer competitive economically and will not be for decades until we can unwind the damage the Libs have done. In the meantime, find a sunny place to move with favourable tax policies and rates. You will not regret it.