It’s real

A constant refrain is that interest rates can never go up.

But they just did. And there’s more to come. Quite a bit more. Markets are betting what happened Wednesday morning takes place again at least four times in 2022. Maybe five. Or six. And the US central bank will follow suit in two weeks.

A certain dog-loving, Drake-hating pathetic blog has been telling you this for a while now. Emergency rates are so over. They were never intended to be the new normal, only put in place to kickstart a virus-addled, quasi-deflationary economy. But look around you.

Houses are unaffordable. Lettuce is almost four bucks a head. Gas price hikes are historic. Insurance, taxes, cars, tools, drywall – everything costs more. Assets values have been exploded by widespread access to cheap credit. Mortgages at 2% may have eternally damaged the ability of average people to own typical homes. The CBs blew it. Behind the curve. No choice now, even with Ukraine in smoke and misery.

This morning the bankers as much as admitted their mistakes: “Economic growth in Canada was very strong in the fourth quarter of last year at 6.7%. This is stronger than the Bank’s projection and confirms its view that economic slack has been absorbed… The rebound from Omicron now appears to be well in train: household spending is proving resilient and should strengthen further with the lifting of public health restrictions. Housing market activity is more elevated, adding further pressure to house prices.”

So here we go. The benchmark Bank of Canada rate edges higher by a quarter point, which doubles it. Hardly consequential, except as a harbinger of what comes in the future. Those who say central banks will lose their nerve and back off from more increases are as wrong as the voices you heard two days ago screaming that Tiff & Co would wimp out on March 2nd.

What to expect?

Given inflation escalating, the economy growing at 6.7%, oil romping and the post-pandemic world continuing to expand (despite Putin) the long-term trend for rates is up. Sure, if Russia goes completely insane and levels Kyiv,  becoming a global pariah and sinking into depression, the advance could be slower. But then it could be the opposite.

Says our central bank:

Price increases have become more pervasive, and measures of core inflation have all risen. Poor harvests and higher transportation costs have pushed up food prices. The invasion of Ukraine is putting further upward pressure on prices for both energy and food-related commodities. All told, inflation is now expected to be higher in the near term than projected in January. Persistently elevated inflation is increasing the risk that longer-run inflation expectations could drift upwards.

Best we all plan for a chartered bank prime of just under 4% by Christmas. Variable rate mortgages will be affected, as will HELOCs and a raft of other charges. Fixed-rate home loans will also have a 4-handle on them, which will make borrowing harder for a slew of first-time buyers.

But in the short term (rutting season, 2022) the bank rate nudge will just throw more gas on the real estate fire. Now that we’ve all actually seen the cost of money increase, it will spur more fence-sitters to trigger their pre-approved mortgages and jump into the market, fearing more costly borrowing costs if they delay. Given the current paucity of listings and rapacious vendor greed, you know what’s about to happen.

Longer term? Like in 18 months?

Ukraine will be over. Inflation may be muted, but still strong enough to keep the CBs on their tightening track. Five-year mortgages could be on the way to 5% – still historically cheap, but a shock to anyone born after 1985. And the historic inverse relationship between house prices and interest rates will hold. There is a ceiling to the cost of real estate. And we’re close.

Naturally, the deniers will keep at it. Go visit the swamp called Reddit and see the Mills howling about it being “impossible” mortgages will jump because nobody can afford it. Well, with crap houses in Toronto and Vancouver costing $1.6 million and the average place in the huckster burbs now at seven figures, we’re way beyond that.

So, despite a nasty and worrisome war. Despite record public and private borrowing and steaming heaps of debt. Despite an entire generation being shut out of home ownership, the Rubicon has been crossed. Monetary policy has been changed. Stimulus withdrawn. It’s real.

By the way, Glory to Ukraine.

About the picture: “I’m a longtime follower,” writes Ronald, “currently hanging my hat in Sudbury, ON. You’ve been kind enough to answer a few of my inquiries over the years, indirectly but deliberately, in your posts. Thanks for that. Timber is the big one, 6 yo from Quesnel, BC. Forest is the small one, 5 mo from Atikoken, ON. I shit you not, Forest is Timber’s uncle….artificial insemination. Timber’s grand-daddy is Forest’s daddy. Yes, we paid to make my wife’s dreams come true. And I love them.”

228 comments ↓

#1 Summertime on 03.02.22 at 10:33 am

0.25 % increase to 0.5 %? Really?

Should it not be 6 % + above even the fake CPI numbers of 5.1 %?

How is that fighting with inflation?

#2 DON on 03.02.22 at 10:40 am

Bitter…sweet as prices tick up.

As for a balanced source (from the west). Allen Sens UBC Prof.

https://globalnews.ca/video/8643233/russia-ukraine-crisis-what-is-putins-end-game/

#3 T-Man on 03.02.22 at 10:52 am

When N.A.T.O./Murica were bombing civilian infrastructure and cities in several countries, for our free dumb, not a peep from all you fake Ukkie lovers. Bandwagon jumpers, war lovers, and vengeance seekers dwell here. Celebrating Right Sector and Azov Battalion murderers, drinking the lying mockingbird msm kool-aid. Good job!

#4 That’s All? on 03.02.22 at 10:57 am

25 bps?

Rates will increase until stuff breaks.

Just like in 2019, then the fed reversed rates rapidly and opened the repo flood gates.

But 65% of all debt was created in the last 2 years so it will be interesting to see how far rates can rise.

#5 Yukon Elvis on 03.02.22 at 10:59 am

#159 the Jaguar on 03.02.22 at 7:59
Good link, with a balance approach to what’s happening. Note it isn’t the first to mention ‘ The Russian Air Force and Black Sea Fleet have also been notably absent. ‘ This isn’t a ‘shock and awe’ American style invasion where critical infrastructure is destroyed. That’s why it’s taking longer. The preservation is intentional. And they have been encircled in the east where they will be given options.

+++++++++++
Delusional. Nato member Turkey has blocked Russian warships from the Black Sea and Ukraine has mobile air defence systems that has taken down 61 Russian aircraft/helicopters to date.

#6 Mark Rypen on 03.02.22 at 11:19 am

As a Canadian living in Eastern Europe, I dare say, you guys are underestimating the magnitude of what is happening in Ukraine/Russia right now. Russia is teetering economically and has been blacklisted by the world. The destabilizing effect of this will be profound.

As to T-man with his equivocating nonsense–the West hasn’t always gotten it right, but you’re insane if you think what is being done by Russia right now is equivalent to NATO/Western actions in the past. It simply isn’t true.

#7 Ponzius Pilatus on 03.02.22 at 11:24 am

#144 Nonplused on 03.02.22 at 12:24 am
#48 Søren Angst on 03.01.22 at 5:23 pm

I WOULD RATHER FREEZE HERE IN ITALIA

than give satisfaction to the War Criminal Putin.

————————————-

Well, summer is around the corner, I’ll give you that.

Certainly nobody is happy with the situation in Ukraine.
All war is criminal in nature. But only the losers get charged with any crimes.
————————-
Agree.
All war crimes should be prosecuted.
And history should be written by non partisan parties.
Unfortunately, that’s just not gonna happen on this earth.
Maybe there IS a god who will bring “The Masters of War” to justice.

#8 PeterfromCalgary on 03.02.22 at 11:31 am

Inflation and Putin’s power have both been driven up by the flawed idea that we can reduce climate change by reducing the supply of oil and gas.

If we really want to do something to reduce climate change we have to focus on much harder task of reducing demand for oil, gas and coal.

It is easy to stop a pipeline or LNG project. Unfortunately, all that does is increase inflation and gives the oil and gas business to dictatorships who don’t have to worry about the public’s climate concerns.

#9 Sail Away on 03.02.22 at 11:33 am

Oh my, the miners are rocking it. The SA August position in 4 miners (BHP, VALE, LIF, NTR) averages +31% today.

Nutrien is the big winner at the moment at +52%. Not bad. Not bad at all.

Interestingly, the ETF miner position in XBM taken by another blogdog at the same time is +36%.

#10 Don on 03.02.22 at 11:34 am

“Ukraine will be over”

You cleverly avoided the word WAR.

But, You got it right this time! YOu know what is coming.

Sign Minsk agreement. Pull back to 1997 lines. Ukraine becomes neutralized buffer zone. PEACE!

Then the USA abandons Velensky, Ukraine, and NATO.

Eastern Europe will remain second-class Europeans as they have been for centuries.

#11 Ballingsford on 03.02.22 at 11:35 am

You’re early today Garth. Yes, people must be buying before their pre-approval expires. Newer built houses here are selling as quick as being listed. And the prices are ridiculous.

Anyone buying a new build now with a one + year wait for possession will be in for a shock when they get their rate 90 days out from possession.

#12 Nick on 03.02.22 at 11:37 am

Canadian RE is bling bling.

Don’t bet against it, especially in Lower Brainland.

#13 Barb on 03.02.22 at 11:41 am

Nice that Timber and Forest live together!

Interesting radio interview with Canada’s former ambassador to Russia, John Sloan, this morning.

In a nutshell, he agreed that Putin’s paranoid. BUT perhaps there’s a need for a Helsinki 2.0 Accord. There used to be the buffer (Warsaw Pact) between Europe and Russia, which no longer exists.

My own opinion: I now believe that accepting Ukraine into NATO will only exacerbate the paranoia. And China’s more involved in Ukraine than even Putin knows.

#14 PeterfromCalgary on 03.02.22 at 11:47 am

FYI: Russia just increased it’s interest rate from 9.5% to 20%. I am glad even our Prime Minister is not stupid enough to invade a sovereign country.

#15 Don Guillermo on 03.02.22 at 11:50 am

Hey Jag

Welcome home. I trust you had another great time on the beautiful Caribbean.

“Well, with crap houses in Toronto and Vancouver costing $1.6 million and the average place in the huckster burbs now at seven figures”

… you could sell the ‘crap house’ and buy this sub-tropical 7 bedder c/w panoramic mountain, island, ocean and city views. You could probably pick it up with a $950,000 offer. You’d might need a couple of grand to tone down the interior paint colours a notch or two.

http://www.buyingrealestatemazatlan.com/Mazatlan/Sinaloa/Homes/Balcones_de_Loma_Linda/Agent/Listing_498194913.html?fbclid=IwAR2ch-tJSKSJZ4FqvVyWWYssMt-CRL44MkQ-caeNl5XdT7V2YqLod-j4jwM

#16 Big Bucks on 03.02.22 at 11:53 am

Big deal —all the excitement about a 0.25% increase.With GDP at 6.7% and inflation around the same it’s still a joke.We now expect them to go higher but if GDP drops down to 2-3% and inflation cools off after the war we could maybe see 1 more increase in April and again in May and that’s it.Rates should be higher,way higher but I’m just not convinced we’ll see even an overnight rate of 2% anytime in the next 5 years or maybe longer.Remember just 10 months ago all the rage was deflation—people seem to go from one extreme to the next and logic goes out the window.

#17 KLNR on 03.02.22 at 11:54 am

@#3 T-Man on 03.02.22 at 10:52 am
When N.A.T.O./Murica were bombing civilian infrastructure and cities in several countries, for our free dumb, not a peep from all you fake Ukkie lovers. Bandwagon jumpers, war lovers, and vengeance seekers dwell here. Celebrating Right Sector and Azov Battalion murderers, drinking the lying mockingbird msm kool-aid. Good job!

would you grow the F up already.

#18 T-Man on 03.02.22 at 12:00 pm

DELETED

#19 James on 03.02.22 at 12:15 pm

#6 Mark Rypen on 03.02.22 at 11:19 am

As a Canadian living in Eastern Europe, I dare say, you guys are underestimating the magnitude of what is happening in Ukraine/Russia right now. Russia is teetering economically and has been blacklisted by the world. The destabilizing effect of this will be profound.

As to T-man with his equivocating nonsense–the West hasn’t always gotten it right, but you’re insane if you think what is being done by Russia right now is equivalent to NATO/Western actions in the past. It simply isn’t true.
___________________________________________
Putin and Russia because of his invasion are now pariahs of the earth. Nobody wants to deal with them and he will go down in history with the likes of Adolph Hitler as a cold blooded killer of innocents. He may take the Ukraine but I doubt he can control such a vast territory of time. It will be another Belfast, Afghanistan or Vietnam where all the death will be by small cuts to the young conscript Russian soldiers left to police the Ukraine territory.

#20 DON on 03.02.22 at 12:19 pm

Looks like oil could reach $115 by spring.

Economic warfare. How do wars escalate again?

On another front:

https://www.bnnbloomberg.ca/42-of-canadians-renting-part-of-their-home-don-t-tell-insurer-survey-1.1729879

#21 Billy Buoy on 03.02.22 at 12:30 pm

DELETED

#22 Al on 03.02.22 at 12:31 pm

A good start to change for the better!

#23 Diamond Dog on 03.02.22 at 12:39 pm

Canadian Federal debt to GDP is at 118% or so I’ve read. The U.S. is at 125% debt to GDP. The problem with CB’s raising rates much beyond 3% is the cost of debt service rising with government bonds.

The U.S. for example, owes 30 trillion. A 1% increase is 300 billion. 3% is 900. Add trillion plus deficit spending and you’ve got high single digit federal deficits approaching 10% annual and a fiscal runaway train.

Canada is now in the same boat. 100% debt to GDP ratio’s are the thresh hold. Most nations who cross that thresh hold go broke. Not all. The U.S. was here once before in WWII @ 120% debt to GDP. They got out of their jam with a debt jubilee, a term used to describe restructured debt.

In the case of the U.S. in WWII, 1/3rd of their government bonds (war bonds) were pegged at 2% over 99 years. This allowed CB’s some flexibility but times were different then. The stock markets and housing were in the basement. Today, they are either in a bubble or coming off one. What generates a wealth effect on the way up, generates a poverty effect on the way down so 2022 is starting from a bad place.

We also don’t have the government will to crack down on spending and increase taxes. It’s like watching a frog in a boiling pot of water. If the frog doesn’t sense the danger, it dies. If the powers that be are too dumbed down to understand the fiscal dangers, its over.

There’s this sense that nations can go the way of Japan, but Japan runs trade surplus’s. The U.S. is a big time debtor nation running massive trade deficits. Canada runs trade deficits half of the time, it’s a coin toss. Canada might be able to buck the trend, but this is relying on boom and bust commodity exports to do it.

Until governments get their fiscal houses in order, CB’s are handcuffed to raise rates to the highs required to tame inflation. They can raise rates up to 4% in the hope that something breaks before they get there, but if nothing breaks, they’ll hit a fiscal wall at 4%, possibly sooner. What this means if I’m right, is years of stagflation.

I mean, look at the m2! Look at the money they’ll have to suck out of the supply to get inflation in check. CB’s won’t be able to raise rates like they did in the 70’s and as a consequence, stagflation will reign. 2, 3, 4 years go by… debt to GDP ratios increase… big drops in currency valuations as bond holders face debasement and hyperinflation sets in. We know what means from there. Unfortunately, its an all too realistic scenario I’ve described unless governments are willing to act now or soon. (I see no political will as of yet):

https://www.longtermtrends.net/m2-money-supply-vs-inflation/

#24 Mike on 03.02.22 at 12:40 pm

“Ukraine will be over”

That certainly appears correct. The 1991 borders were untenable anyway, and an artefact of the Soviet Union.

Zelensky and his cohorts are trying to milk this crisis as much as possible. First they are demanding an acceptance into the EU as a matter of urgency. The EU says it’s considering the application. I like that, let’s see how the EU walks the talk. Also they are asking that their external debts be written off, because of the damage done to their infrastructure by Russia. I like that too, let the West pay for the looting of the Ukrainian resources by its oligarchy. Who can argue that EU and the collective West is not reaping the fruits of their efforts?

#25 Sail Away on 03.02.22 at 12:49 pm

Oh wow. He’s like the patron saint of Ukraine:

https://www.msn.com/en-ca/autos/news/elon-musk-s-tesla-is-offering-free-charging-for-electric-vehicles-in-4-cities-around-ukraine-for-those-fleeing-the-country/ar-AAUuAfY?ocid=msedgntp

#26 Søren Angst on 03.02.22 at 12:49 pm

I ‘dunno Garth.

0.5% more symbolic than damaging to RE furor in Canada.

Still, it’s a start.

4%, ya when it hits that I would like to see what happens.

—————–

BTW, GDP growth in Nov —> Dec 2021 was:

0%.

#27 Søren Angst on 03.02.22 at 12:58 pm

I ‘dunno Garth.

0.5% more symbolic than damaging to RE furor in Canada.

Still, it’s a start.

4%, ya when it hits that I would like to see what happens.

BTW, GDP growth in Nov —> Dec 2021 was:

0%.

—————–

PS:

CTV National News, La Flamme and Workman have been excellent in their story telling about Ukraine. This at the end, reduced me to tears:

https://www.ctvnews.ca/video?clipId=2393299

As of today, 11,000 Ukraine refugees in Italia.

Many more to come and we welcome them with open arms and wish only to give them hope. Already in high gear here in my Region of FVG to help them:

https://messaggeroveneto.gelocal.it/udine/cronaca/2022/03/01/news/come-aiutare-ucraina-in-friuli-venezia-giulia-e-dal-friuli-venezia-giulia-1.41266359

And yes, I will be donating.

————

GARTH, I 2nd your sentiment:

By the way, Glory to Ukraine.

#28 Don on 03.02.22 at 12:58 pm

#15 Don Guillermo
… you could sell the ‘crap house’ and buy this sub-tropical 7 bedder c/w panoramic mountain, island, ocean, and city views. You could probably pick it up with a $950,000 offer. ”

…..and wait for the Tsunami.

#29 Alex on 03.02.22 at 1:05 pm

> Poor harvests and higher transportation costs have pushed up food prices. The invasion of Ukraine is putting further upward pressure on prices for both energy and food-related commodities.

I don’t understand how wars or increasing energy costs are supposed to be affected (let alone improved) by interest rates. To the extent that supply-chain disruptions are causing higher prices, surely we’d want *more* investment.

#30 Linda on 03.02.22 at 1:05 pm

Well color me surprised. I had bet Tiff would hold off given the Ukraine situation providing a reason to do so. The powers that be have been dragging their heels & while the increase is only a quarter point, it IS an increase. Next up, the official inflation number. Will the powers that be admit to an increase there as well? Even if only by the smallest amount – say, from 5.1% in January to 5.2% in February? Anyone purchasing food or fuel knows that the official numbers are way understated. At least the BoC did admit inflation is expected to run ‘hot’ for at least the first half of 2022. Given the current state of world affairs, maybe for all of the year.

#31 Yukon Elvis on 03.02.22 at 1:09 pm

The Russian army is now surrounded in Ukraine. We have them right where we want them. No resupply by air due to mobile Ukrainian air defence systems. No resupply by sea due to Turkey closing the Bosporous Strait. Resupply convoys by land are sitting ducks and are being hammered at choke points. Once the Russians use up their original load out of fuel, food and ammo new resupply will not happen. The Russian troops will be sitting ducks too. Time is on Ukraine’s side. This will break Putin and Russia.

#32 Søren Angst on 03.02.22 at 1:11 pm

#22 Mike

Putin will be gone long before the Ukraine.

His army is in turmoil, I would say on the verge of disintegration. From Czechia:

“The broken morale of Russian soldiers: Crying, hunger, fear of death and destruction of their own technology ?!”

https://www.blesk.cz/clanek/zpravy-valka-na-ukrajine/705593/podlomena-moralka-ruskych-vojaku-plac-hlad-obavy-ze-smrti-i-niceni-vlastni-techniky.html

And this propaganda? Maybe. Maybe not.

“EXCLUSIVE: Voice message reveals Russian military unit’s catastrophic losses in Ukraine”

https://kyivindependent.com/national/exclusive-voice-message-reveals-russian-military-units-catastrophic-losses-in-ukraine/

—————–

Russia. Once a nation of accomplishments.

Dostoevsky, Gagarin, Catherine the Great, the list goes on and on.

Now thanks to Putin reduced to an International Pariah, the most hated nation on Earth. THAT will never change again, time immemorial.

#33 Honest Realtor on 03.02.22 at 1:14 pm

Canadians, let us join together and allow 1,000,000 Ukrainians to be part of our country in the next year.

These people have already contributed a great deal to our culture, for decades. This will boost our society and our economy.

Let’s open the doors.

#34 Don Guillermo on 03.02.22 at 1:17 pm

#28 Don on 03.02.22 at 12:58 pm
#15 Don Guillermo
… you could sell the ‘crap house’ and buy this sub-tropical 7 bedder c/w panoramic mountain, island, ocean, and city views. You could probably pick it up with a $950,000 offer. ”

…..and wait for the Tsunami.
++++++++++
Baja California – the perfect Tsunami breaker. Helps for hurricanes as well (most times).

#35 Peter on 03.02.22 at 1:20 pm

I mean, I guess NATO can bankrupt Russia, but what happens when it has nothing left to lose? Economic damage doesn’t affect the few thousand Russian nuclear warheads does it?

#36 Søren Angst on 03.02.22 at 1:23 pm

10 min ago on Twitter…

https://twitter.com/nexta_tv/status/1499085205197447174

#Russian businessman Alexander Konanykhin has put a $1,000,000 reward for Putin’s head

#37 Concerned Citizen on 03.02.22 at 1:24 pm

Just a friendly reminder that, as of today, the Federal Reserve is still printing money. That’s with inflation running at ~40 year highs south of the border. That tells you all you need to know about how serious central banks are about price stability.

No one ever said there would be no rate hikes. Of course, there will be token rate hikes. Today’s BoC increase brings real rate from -5.25% to -5%. That is the definition of a token rate hike. If the Tiffster were at all serious about controlling inflation, it would have been a full .5% increase with a clear promise of more to come. They would have also started rolling assets off their balance sheet. They did neither. Remember when Volker raised rates above the rate of inflation to get the job done? You think this modern crop of “the rich people wealth effect is all that matters” central bankers has the stomach to raise rates to 6, 7, 8% to deal with inflation? I don’t know a single person who does.

i give it until they raise rates to 1-1.5% (so likely real rates still highly negative) until something breaks in asset markets, and they either cease or reverse course. You simply can’t take them seriously at this point.

BTW, there is no limit to how high home prices can go when Canadians are forced to compete with money launderers, foreign money, and the Bank of Mom and Dad (who have seen windfall paper gains from this obscenity we call a housing market). Instead of living 5 to a place, young people will now live 10 to a place. There, problem solved. Let the stimulus continue – our standard of living hasn’t declined enough yet!

#38 Sail Away on 03.02.22 at 1:32 pm

Interesting phone call yesterday. The person who bought our Vancouver Shaughnessy house a few years ago received an empty homes invoice for $67,000 from the city. Although some of the discussion was lost in translation, I understand he was a bit upset.

I commiserated a bit, then pointed out if he’s really angry, he could always sell it tomorrow for half a mil more than purchase price.

#39 RichardTO on 03.02.22 at 1:35 pm

Just skimming through the German news:

BWM stops production, same for Porsche and VW due to missing small parts from Ukraine. Gas price hits record high. If BMW, VW and Porsche stop production, all small parts suppliers will reduces their production as well. The car industry is Germany’s backbone.

https://www.mdr.de/nachrichten/sachsen/leipzig/leipzig-leipzig-land/porsche-produktion-stopp-leipzig-ukraine-krieg-100.html

If you live in Germany or continental Europe, brace yourself. Heating costs in UK are about to explode as residents are given advisories to expect +50% increases to their heating bills.

It appears the weak, European poodle governments have surrendered any perceived sovereignty just to appease their masters in Washington D.C. and assist them in their imperial crusade in Ukraine, against their own interests. The veneer has slipped off.

#40 Diamond Dog on 03.02.22 at 1:39 pm

#20 DON on 03.02.22 at 12:19 pm

Looks like oil could reach $115 by spring.

———————————————-

Or the end of this week. Maybe $140 by spring?

It’s unfortunate that Quebec said no to LNG through the St. Lawrence seaway. That was a big mistake. Perhaps they’ll rethink a new proposal.

My top worry at present for the planet now (I’m sure others feel the same) is whether or not Putin is still mentally stable. He’s 69, looks sloppy fat around the face… has been a ruthless dictator for decades now…

We are products of our environment. In Putin’s case, he’s the product of his own environment through autocratic rule. I don’t think Putin has the faculties he once had. I say this because the decision to invade Ukraine was… trying to find the right words, “beyond stupid”. There’s a sociopathic anger or prejudice within the choice to invade Ukraine that overrides logic here.

There is no end game for Putin’s invasion of Ukraine. He can’t occupy Ukraine, the hearts and minds are already lost. If he pushes west of Ukraine, it’s automatic world war. All he can do is reduce Ukraine’s cities to rubble. It’s scorched Earth right, of which Putin is quite capable but then what? Plant a flag on Ukraine and call it his? Putin won’t be able to occupy Ukraine for long, that’s the point.

Looking past this invasion, what’s left? Pump some nukes in the sky? More scorched Earth? This is the problem, once you “normalize” murder or war and scorched Earth policy, it gets easier to do more and more of the same. There’s a progression to it and we are witness to this progression.

I’m not sure all of Putin’s dogs are barking anymore. Below is a video that I haven’t watched and it’s 2015 but there’s a chart on the 8 minute mark and some charts before it that illustrate the political leanings of Ukraine’s citizens (around 2015):

https://www.youtube.com/watch?v=JrMiSQAGOS4

Apologies for glossing over Ukraine’s history, it’s highly important to understand it, but fast forward to 2019 and Zelensky gets elected (in a landslide, close to 73%):

https://en.wikipedia.org/wiki/President_of_Ukraine

Zelensky is a young charismatic leader, we are getting an idea of what he is like this last week or so, there’s been this shift in Ukraine for support because Ukrainians by enlarge like him. Putin see’s Ukraine slipping away from Russia. Ukraine has found a leader through a legitimate government that has given them strength and Putin can’t handle it.

Putin’s reaction? Scorched Earth. As stated, there is no logic to this invasion. It’s not strategic, it feels entirely personal from an autocrat dictator with with total rule. I believe we are witness to sociopathic anger unleashed by a mind slipping into the normalized brutality and destruction of a mad king.

#41 T-Man on 03.02.22 at 1:39 pm

#17- KLNR:

‘Mericuns and their bought and paid for msm mockingbird media, whip up a frenzy of hate, but bury their own multiple war crimes against humanity. U.S.A. = Unusually Stupid A*******.

#42 Gen X on 03.02.22 at 2:04 pm

The urban legend goes that somewhere behind the scenes, Adam Vaughan is busy buying up bonds to lower bond yields for his foreign investors in Canadian real estate.

#43 T-Man on 03.02.22 at 2:12 pm

I spent 33 years and 4 months in active military service and during that period I spent most of my time as a high class muscle man for Big Business, for Wall Street and the bankers. In short, I was a racketeer, a gangster for capitalism. I helped make Mexico and especially Tampico safe for American oil interests in 1914. I helped make Haiti and Cuba a decent place for the National City Bank boys to collect revenues in. I helped in the raping of half a dozen Central American republics for the benefit of Wall Street. I helped purify Nicaragua for the International Banking House of Brown Brothers in 1901-1902. I brought light to the Dominican Republic for the American sugar interests in 1916. I helped make Honduras right for the American fruit companies in 1903. In China in 1927 I helped see to it that Standard Oil went on its way unmolested. Looking back on it, I might have given Al Capone a few hints. The best he could do was to operate his racket in 3 districts. I operated on 3 continents.

Smedley Butler

#44 Ponzius Pilatus on 03.02.22 at 2:14 pm

The Media like the word “Oligarch”.
Oligarch this, Oligarch that.
Even though the root comes from the Greek, it sounds kinda Russian. Evil.
Suddenly, every rich Russian is an Oligarch.
Oligarchy is not a Russian invention.
There are some people suggesting that the USA is also a Oligarchy.
Just to show you, that things are not always black and white.
But whatever happens in Ukraine, the Rich will get richer.
You can take that to your Russian bank when the sanctions are lifted.

#45 Sean on 03.02.22 at 2:17 pm

All right, one hike done, few more to go.

As somebody said earlier, let’s see what happens at 3-4% (if the price of oil doesn’t crash the economy before we get there).

I disagree about gold; no matter what happens to Putin it is clear it’s vital for every nation to protect itself from the moves the EU and USA employed in recent days. Crypto, gold, steel mills, software, computer chips – every country needs to become a prepper. This means higher prices and less efficient supply chains.

#46 Dave on 03.02.22 at 2:19 pm

Here is a trend for interest rates in Canada for the last 25 years:

https://tradingeconomics.com/canada/interest-rate

Inflation is screaming hot – people are crying about everything that they have to pay for. Interest rates should be much higher but this is part of the global elites plan to destroy your wealth.

Interest rates will just toggle up and down but BOC will stay below 1%.

Tragic…there will always be an excuse not to go higher!

#47 BillyBob on 03.02.22 at 2:31 pm

Another beautiful day here in Prague. Still a bit cold, but sunny and blue skies. Went for a very long walk with the AirPods in, a la Smoking Man. What an incredible city.

Here’s how to raise rates when you’re concerned about inflation but have an economy built on more than people selling over-inflated leveraged real estate to one another:

Czech Republic – Key rates
Date Key rates
02/04/2022 4.50%
12/23/2021 3.75%
11/05/2021 2.75%
10/01/2021 1.50%
08/06/2021 0.75%
06/24/2021 0.50%

(Source: countryeconomy.com)

Seems like Canada is a bit behind the curve. Quel surprise. Quite a vote of confidence in the economy, that huge increase lol.

Say, what happened to Covid-19? Did it end overnight? Can’t seems to find anything in the press about it anymore. How odd. It seemed very important to everyone for the last couple years and now it’s just…gone?

TurnerNation? Any insights?

#48 DON on 03.02.22 at 2:33 pm

#40 Diamond Dog on 03.02.22 at 1:39 pm

$115 by Friday if talks don’t go well tomorrow.

Now, all eyes are on China and Taiwan. If China moves bigger issues at play. China obviously knew about the Ukraine invasion. China doesn’t see it as an invasion so to speak and will not support Western sanctions. Gotta hope that calmer heads will prevail.

#49 Graeme on 03.02.22 at 2:34 pm

Any meaningful uptrend in rates is incompatible with 20% zombie corporations and governments running deficits year after year after year IMO. Sure, don’t be in a position to get wrecked by 5% but I think we’d bounce back down HARD if we ever got to that level. We’re so late in this decades long trend even the smallest catalyst is a red alert to slash rates now. I sleep just fine on variable because rates will rise a little, but they will quickly fall. If I was up for renewal right now and didn’t have to pay a cent of penalty, maybe I’d lock in 2 years, max.

#50 Don on 03.02.22 at 2:36 pm

#33 Honest Realtor

Yes, you can house those escorts in NEW ” high priced” Condos.

#51 Ponzius Pilatus on 03.02.22 at 2:42 pm

at 11:34 am
“Ukraine will be over”

You cleverly avoided the word WAR.

But, You got it right this time! YOu know what is coming.

Sign Minsk agreement. Pull back to 1997 lines. Ukraine becomes neutralized buffer zone. PEACE!

Then the USA abandons Velensky, Ukraine, and NATO.

Eastern Europe will remain second-class Europeans as they have been for centuries.
—————————
Hard not to agree with that statement.
Ukraine will have a hard time getting into the EU.
The former USSR satellites (Poland and Hungary, in particular), are already more than the EU can or want to handle.
One of the reasons for Brexit was the outrage demands by Poland for EU hand outs.

#52 Rochdale GM on 03.02.22 at 2:42 pm

Beware the sleeping giant. China is busy calculating.

#53 Michael in-north-york on 03.02.22 at 2:44 pm

#35 Peter on 03.02.22 at 1:20 pm

I mean, I guess NATO can bankrupt Russia, but what happens when it has nothing left to lose? Economic damage doesn’t affect the few thousand Russian nuclear warheads does it?
===

Less dramatic options are on the table, for example:

#36 Søren Angst on 03.02.22 at 1:23 pm

10 min ago on Twitter…

https://twitter.com/nexta_tv/status/1499085205197447174

#Russian businessman Alexander Konanykhin has put a $1,000,000 reward for Putin’s head

#54 Ponzius Pilatus on 03.02.22 at 2:46 pm

#43 T-Man on 03.02.22 at 2:12 pm
I spent 33 years and 4 months in active military service and during that period I spent most of my time as a high class muscle man for Big Business, for Wall Street and the bankers. In short, I was a racketeer, a gangster for capitalism. I helped make Mexico and especially Tampico safe for American oil interests in 1914. I helped make Haiti and Cuba a decent place for the National City Bank boys to collect revenues in. I helped in the raping of half a dozen Central American republics for the benefit of Wall Street. I helped purify Nicaragua for the International Banking House of Brown Brothers in 1901-1902. I brought light to the Dominican Republic for the American sugar interests in 1916. I helped make Honduras right for the American fruit companies in 1903. In China in 1927 I helped see to it that Standard Oil went on its way unmolested. Looking back on it, I might have given Al Capone a few hints. The best he could do was to operate his racket in 3 districts. I operated on 3 continents.

Smedley Butler
————————-
This reminds me of “The Universal Soldier” by Donavan.

#55 Reality Check on 03.02.22 at 2:46 pm

Wow, can’t believe that Tiff actually did it.

Perhaps shows that the BOC is taking the inflation threat seriously, we will see if they follow through with planned hikes.

Keep ‘‘em coming Tiff, your going need a good 2-3% quickly to stave off long-term double digit inflation.

#56 crowdedelevatorfartz on 03.02.22 at 2:47 pm

Well.

Gas is $1.86.9 today in Vancouver and the gas stations are jammed with cars.
I pumped $100 in the work truck.
Why?
The News announced today gas will go up tonight to $1.97.9 tonight due to the war in Ukraine.

Inflation/recession….here….we….come.

#57 VladTor on 03.02.22 at 2:47 pm

Garth….Houses are unaffordable. Lettuce is almost four bucks a head. Gas price hikes are historic. Insurance, taxes, cars, tools, drywall – everything costs more. Assets values have been exploded by widespread access to cheap credit.

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

And official inflation is like 5.3%. Garth – how it is possible?

Beginning of hyperinflation I’m thinking since todays post. You are scare me!

#58 Sail Away on 03.02.22 at 2:49 pm

#47 BillyBob on 03.02.22 at 2:31 pm

Say, what happened to Covid-19? Did it end overnight? Can’t seems to find anything in the press about it anymore. How odd. It seemed very important to everyone for the last couple years and now it’s just…gone?

——–

Haha. Prepare for a depression pandemic among previously self-appointed Protectors! Of! The! Universe!

#59 crowdedelevatorfartz on 03.02.22 at 2:50 pm

@#3 Troll Man

Do you get paid in bitcoin now that you can’t cash the cheque in Rubles?

#60 VladTor on 03.02.22 at 2:52 pm

The Bank of Canada today increased its target for the overnight rate to ½ %, with the Bank Rate at ¾ % and the deposit rate at ½ %.

Here:

https://www.bankofcanada.ca/2022/03/fad-press-release-2022-03-02/

My (just very very very very personal – like Rate increase at ¾ %) opinion: BoC is branch of Cirque du Soleil

#61 Ponzius Pilatus on 03.02.22 at 2:53 pm

#47 BillyBob on 03.02.22 at 2:31 pm
Another beautiful day here in Prague. Still a bit cold, but sunny and blue skies. Went for a very long walk with the AirPods in, a la Smoking Man. What an incredible city.
—————————
Sure, it’s a beautiful place.
But so are many other cities on this planet.
Beauty is in the eye of the beholder.
Enjoy it.
But just have your packs ready to jump on a train to Vienna or Berlin before only real old people and kids are allowed to leave.

#62 baloney Sandwitch on 03.02.22 at 2:56 pm

What do you think of taking a punt of a Russian ETF. Downside looks limited now that it has fallen 87%.
https://www.ishares.com/us/products/239677/ishares-msci-russia-capped-etf

Eventually Russia is too important to be written off entirely and would survive Putin.

#63 KLNR on 03.02.22 at 2:59 pm

@#24 Mike on 03.02.22 at 12:40 pm
“Ukraine will be over”

That certainly appears correct. The 1991 borders were untenable anyway, and an artefact of the Soviet Union.

Zelensky and his cohorts are trying to milk this crisis…

Hey Garth, I think the russian troll farm has taken hold in your comments section.

#64 Reality Check on 03.02.22 at 2:59 pm

Billybob

Say, what happened to Covid-19? Did it end overnight? Can’t seems to find anything in the press about it anymore. How odd. It seemed very important to everyone for the last couple years and now it’s just…gone?

—————————-

Let old uncle Reality Check let you know.

Covid is ending, just like science said it would. Did not end overnight but has been on a downward trajectory the last couple months. Rational people are vaxxed and do not end up in hospital and hyper-contagious Omicron is making its way though the unvaxxed population and providing them with some immunity (and sadly killing thousand of unvaxxed worldwide).

So hospitalization are going down. After all the biggest problem through all this is how Covid patients clogged up the hospitals putting enormous stress on the system and its workers This was especially a problem when we had vaccines, but the unvaxxed were still ending up in hospitals.

Plus there is something going on in Eastern Europe that seems to be taking up a lot of media time.

So no grand Illuminati/lizard peeps Covid-conspiracy here, just playing out the way actually scientists predicted it would.

#65 Yukon Elvis on 03.02.22 at 3:04 pm

#35 Peter on 03.02.22 at 1:20 pm
I mean, I guess NATO can bankrupt Russia, but what happens when it has nothing left to lose? Economic damage doesn’t affect the few thousand Russian nuclear warheads does it?
++++++++++++++
What Russia has to lose is their children and grandchildren. I am sure there are many of Putin’s underlings in the dirty rotten stinky filthy Kremlin that would stop him. The tough guy nuclear talk is just more Putin Bolshoi.

#66 Linda on 03.02.22 at 3:04 pm

#37 ‘Concerned’ – in point of fact, the number of people per household has been in a steady decline since the 1970’s. In the 1950’s & 1960’s, your average Canadian household lived 4 or more persons in an average house size of – wait for it – 1,000 square feet. Not a few immigrants arriving in Canada during the 70’s & 80’s ‘packed’ themselves upwards of a dozen or more per household. How times have changed! Nowadays some 50% of Canadian households comprise of 1 or 2 persons. Many occupy houses whose square footage is 1,600 feet or more – average house size is over 2,000 square feet.

My point? IF the young are living 5 or more to today’s ‘average’ sized home, they are still enjoying more space per person than families back in the 50’s & 60’s. Standard of living is all in what one is used to. Lots of the young embrace micro living or tiny house living – not just because it is affordable, but because it is less labor intensive to take care of.

#67 Crystal ball futurist on 03.02.22 at 3:13 pm

Scenario 1: Hopefully this plays out
Russia and Ukraine reach a diplomatic solution
Cease fire is reached and Ukraine stays out of NATO
Russia is hurt by the sanctions but eventually will recover
Canadian housing market starts reverting to mean 3xyearly household income

Scenario 2: God forbid
Russia absorbs Ukraine
China and Russia float a digital currency for trade some form of digital yuan and rouble
China absorbs Taiwan
A new multipolar world order is born
Canadian housing market starts reverting to mean 3xyearly household income

Note: The last part is common so highly probable.

#68 Canada is for the Poor on 03.02.22 at 3:16 pm

Learn to avoid costs and debts and retire at 45
Rent, drive a used car and spend cash for everything you buy.
Cut off the banks, realtors, mortgage brokers etc.
Live to live not live to borrow!

#69 the Jaguar on 03.02.22 at 3:20 pm

@#5 Yukon Elvis on 03.02.22 at 10:59 am “Delusional”.
++
Maybe. We all have our moments. But I don’t think the reporting on what is going on is balanced. I think many are ill informed about the what’s been going on for the past number of years in the Ukraine, and I think the fallout will have an impact worldwide that few are now understanding. Ask most people what they know about the Maidan, Minsk, the non stop shelling or the fire in Odessa and you will be met with blank stares. Aren’t we at least owed some historical context or public debate before we start shipping guns, etc.?

If you think we are always fed the full story by the media consider our own CBC ( Tara Henley departure a good place to start). Several posters here have tried to include posts that offer a different point of view, only to be shouted down or insulted by the usual suspects. Guess we’ll all see how it turns out. ‘Be careful for what you wish for, you may get it’ keeps rolling around in my delusional head.

With all those electric cars why worry? Who cares if gas is $1.85 when the world can be run on solar, wind and unicorn farts.

Hey DonG! Who needs that Mazatlan mansion when I could just curl up with little Carlito in his doggie bed?

#70 jess on 03.02.22 at 3:23 pm

hard to get rid of corruption in a system when it IS the system….
https://corruption-tracker.org/

Corruption in the Russian Defense Sector by Polina Beliakova and Sam Perlo-Freeman

Imaginary R&D activities
According to a report in Gazeta.ru, in 2012 JSC “Zaslon”
received about 800 million rubles ($26 million) to developan aircraft system for the interception of non-strategicmissiles called “Drotik D-E.” 48 However, in 2013 the development works were frozen, and all the equipment,software, and other materials were supposed to be stored and kept safe in “Zaslon.” However, when in November
2016 Ministry of Defense decided to renew the
development of “Drotik” and wanted to transfer all the
equipment to the Central Scientific Research Institute of theMinistry of Defense they found only two old laptops, adamaged telescope, radio-telephone Panasonic, and a
damaged model of a missile. 49 An investigation by themilitary prosecutor’s office revealed that to create anillusion of research activities “Zaslon” signed fraudulent contracts with shell companies some of which were registered on the addresses of public toilets in the Samara region.50
Any discussion of corruption in Russia, including in the defense sector,must take into account the central role of corruption in the Russian state.

http://www.theshadowworldbook.com/

Andrew Feinstein’s book The Shadow World (2011) is one recent work documenting the ubiquitous corruption that characterizes the arms business. There are several reasons why the arms trade is ‘hardwired for corruption’. The high value of individual deals offer significant potential for personal enrichment. The ‘national security exception’ throws a veil of secrecy around arms deals. The tendency for the military sector in many countries to be exempt from scrutiny by Parliament, civil society and investigative and judicial institutions. Finally, the status of the arms industry in producer countries as key instruments of state policy often afford them protection from prosecution

#71 TurnerNation on 03.02.22 at 3:32 pm

Ello #47 BillyBob on 03.02.22 at 2:31 pm.

It would appear the most culturally homogeneous and perhaps compliant nations still are a test bed for all of this. I mean who would put with this for the 3rd year running??

In a region of Eight Million people – for context.
(Maybe Dolce can calculate the IFR and CFR rates there)

https://news.yahoo.com/hong-kong-residents-brace-citywide-044846491.html
HONG KONG (Reuters) -Hong Kong residents braced for a city-wide lockdown, emptying supermarkets and pharmacies, even as leader Carrie Lam called for calm on Tuesday and appealed for the public not to worry over a compulsory mass COVID-19 testing plan.
The Chinese-ruled territory reported 32,597 new coronavirus infections on Tuesday and a record 117 deaths in the past 24 hours. It has seen daily infections surge over 30 times from just over 100 at the start of February

Mass testing for the city’s 7.4 million residents is set to take place over nine days starting in the second half of March, the South China Morning Post reported, citing an unidentified source.

The news sparked concerns many people will be forced to isolate and families with members testing positive would be separated.

Officials are planning to test people three times over nine days, with the government still deliberating whether a lockdown would be on a district basis or citywide, the SCMP said.

#72 jess on 03.02.22 at 3:36 pm

Court dismisses Trinity Bible Chapel’s charter challenge over COVID-19 gathering limits

#73 Leroy full on Indian food on 03.02.22 at 3:36 pm

“Say, what happened to Covid-19? Did it end overnight? Can’t seems to find anything in the press about it anymore. How odd. It seemed very important to everyone for the last couple years and now it’s just…gone?”

It will return with normal flu season in the fall…mandates to follow.

#74 Dave on 03.02.22 at 3:46 pm

Are we going into StagFlation???

Extreme high prices but slow growth = no interest rate hikes.

Canadian dollars buying power will be reduced greatly…i.e. Lettuce will cost you $10

#75 Two-thirds on 03.02.22 at 3:49 pm

Yes, today’s hike was a shoe-in: Tiff & Co. could not have reversed course this late in the game without incurring severe loss of credibility and blow back.

The fate of the rest of the tightening cycle, however, is not set in stone. Here is a good article summarizing opinions by top Canadian economists:

https://financialpost.com/news/economy/the-most-consequential-tightening-cycle-in-decades-what-economists-are-saying-about-the-bank-of-canada-hike

Keep a close eye on the price of oil. It seems that historically, major price increases are followed by recessions, even when everything was going peachy before.

Fossil fuel becoming more expensive due to a recovering global economy (more demand) while new production has virtually stalled in the recent past (climate regulatory uncertainty), equals lower supply than needed. Adding the supply-driven price pressures on commodities needed to manufacture clean technologies and exploding demand for EVs, all types of energy will become significantly more expensive.

It is hard to imagine how spiking energy prices would not lead to a global recession, particularly at a time when fiscal capacity has been exhausted, everywhere but in China (perhaps). The cure to high prices is… high prices, assuming supply can rise, which in today’s pandemic- and conflict-driven supply chains, is far from a given.

So yes, rates will go up, so that in the upcoming recession central banks can cut them again, for one more round of Keynesianism. Rinse and repeat, it seems is the global model in the 21st century.

Welcome to the Japan-isation of the western economies, minus its manufacturing might.

:(

#76 kommykim on 03.02.22 at 3:57 pm

Considering that the BOC rate was 1.75% back in Jan 2020, x5 0.25% hikes would only put us back to the pre-COVID rate.

#77 Yukon Elvis on 03.02.22 at 4:02 pm

#69 the Jaguar on 03.02.22 at 3:20 pm

Aren’t we at least owed some historical context or public debate before we start shipping guns, etc.?
+++++++++++++++++

Historical context is good. Present day 21st century context is even better. Hitler and Napoleon are gone and they are not coming back. Modern day Russia is not invadeable by anyone and is in no danger of losing any sovereign territory to anyone nor does anyone want to invade the damn place. Russia is the aggressor here, not Ukraine and not Nato.

#78 Shawn on 03.02.22 at 4:02 pm

The Journey of a 1000 miles

#1 Summertime on 03.02.22 at 10:33 am

0.25 % increase to 0.5 %? Really?

Should it not be 6 % + above even the fake CPI numbers of 5.1 %?

How is that fighting with inflation?

**************************************
Relax. The Journey of a 1000 miles begins with a single step. More steps will follow.

#79 Join the REIT ride on 03.02.22 at 4:04 pm

While SFHs may in fact deprecate because of higher interest rates, you’ll be thrilled to know that REITs that hold MFHs, or multi family properties will continue to thrive in this environment.

Smart REITs will have lengthened their loans as long and low as possible.
Inflation will allow for higher rents to be charged, which also has the effect of increasing cap rates. I. E. building valuation

Finally, as interest rates increase, fewer people will be able to buy SFH, thereby increasing number of people needing to rent.

Not to mention industrial properties which are setting records every year as a result of additional warehousing requirements because of move towards online commerce.

Heck even retail is doing very well if you own properties that provide essential services.

Snooze you lose!

#80 Brett in Calgary on 03.02.22 at 4:08 pm

Gail’s a crazy ol’ lady, or is she?

https://ourfiniteworld.com/

“Few people in America and Europe realize that the world economy is entirely dependent upon Russia’s exports of oil, coal and natural gas. This dependency can be seen in many ways. For example, in 2020, 41% of world natural gas exports came from Russia. Natural gas is especially important for balancing electricity from wind and solar.”

“If the sanctions really did push Russia down, the result would tend to push the whole world economy toward collapse, because the rest of the world is extremely dependent upon Russia’s fossil fuel exports.”

#81 Brian on 03.02.22 at 4:13 pm

Zoltan Pozsar Warns Russian Sanctions Threaten Dollar’s Reserve Status

But the most surprising take comes from former NY Fed staffer, current repo guru and Credit Suisse money market guru Zoltan Pozsar – who on any other day would be a stalwart advocate of the status quo – and who ominously said that the response to Russia may have set off a sequence of events in motion that eventually leads to the demise of the dollar as the reserve currency.

https://www.zerohedge.com/markets/zoltan-pozsar-warns-russian-sanctions-threaten-dollars-reserve-status

#82 T-Man on 03.02.22 at 4:17 pm

#59- farts in crowded elevators: C.I.A. troll? Your handle explains a lot about you.

#83 Ronaldo on 03.02.22 at 4:22 pm

I recall vividly back in the early 80’s when mortgage rates hit close to 23% and BCTV were interviewing a couple who were rushing out to get a mortgage at those rates. The interviewer asked why they were rushing to get a mortgage at these insane rates. They told him, ”were afraid they may go higher”. Fear is a great motivator. This will undoubtedly lead to a rush to buy this spring. And we are a long ways from 23%.

#84 IHCTD9 on 03.02.22 at 4:23 pm

#56 crowdedelevatorfartz on 03.02.22 at 2:47 pm
Well.

Gas is $1.86.9 today in Vancouver and the gas stations are jammed with cars.
I pumped $100 in the work truck.
Why?
The News announced today gas will go up tonight to $1.97.9 tonight due to the war in Ukraine.

Inflation/recession….here….we….come.
_____

Yikes!!

#85 crowdedelevatorfartz on 03.02.22 at 4:25 pm

@#82 Teabag
“Your handle explains a lot about you.”
+++
Yes.
It means I don’t take myself too seriously unlike anti American shills for Pravda.

So?
Bitcoin now or bullion?
Since rubles are only useful for toilet paper…..

#86 T-Man on 03.02.22 at 4:27 pm

KLNR #63- Cancel CULT-ure doesn’t dwell here. You and your cohorts likely dwelling in mouldy basements, furiously trying to justify your outrage. While your mom bakes freedom fries upstairs. Hey guys, the new Mario cart just came out. LOL

#87 yvr_lurker on 03.02.22 at 4:30 pm

Good post, but I think something needs to be said in a different way. Can’t have “Ukraine will be over” and “glory to Ukraine” in the same blog. “Over” here is not the correct word. The Ukraine situation and immediate crisis will not be over anytime soon. The outcomes are
Ukraine “loses” the direct military conflict and there is insurgency there for the next decade and the cold war resumes between Russia and the west (with endless sanctions, Russia perhaps weaponizing gas and oil, huge shortages in Europe), Sweden and Finland join NATO etc..
Russia leaves (highly unlikely), with Ukraine to join NATO asap, or the crazy person in Russia decides to go up in flames bringing the world with it… No matter what happens going forward there will be many years of uncertainty on so many fronts and a new resumed cold war that brings us back to the 80s… I don’t see this being “over” in any short time period…. Glory to Ukraine…

I said 18 months. And I am probably correct. – Garth

#88 T-Man on 03.02.22 at 4:31 pm

#85- elevator flatuator- Is that the best you can come up with? How much $ do you receive per post? Mighty poor investment imo.

#89 Shawn on 03.02.22 at 4:31 pm

Address of where a bank account is

For archaic reasons a bank account in Canada still has an “address” associated with it. This is no longer needed. Bank accounts are digital. You can now go a lifetime without entering a bank branch. Set it up online. Do everything online.

Filling out a form it asked for the “location” of my bank account. lol.

#90 the jaguar on 03.02.22 at 4:37 pm

@ Yukon Elvis. Invade Russia? Would that army be formed by conscripts living in the mouldy basements of their parental home munching cheese doodles and transfixed by Kim Kardasian?
Hand me that bottle of Stoly!
Leave me be. I’m in the middle of planning my own personal coup de’ tat….

#91 crowdedelevatorfartz on 03.02.22 at 4:38 pm

@#86 Teabag Man
“Hey guys, the new Mario cart just came out.”
+++

Yep.
Definitely a Rooski.
Referring to a video game popular in the 1980’s.
Enjoy the radioactive dust your own troops stirred up from Chernobyl….
Ukraine’s gift to Vladimir Bedpan (Pootin).

#92 Sail Away on 03.02.22 at 4:41 pm

#84 IHCTD9 on 03.02.22 at 4:23 pm
#56 crowdedelevatorfartz on 03.02.22 at 2:47 pm

Gas is $1.86.9 today in Vancouver and the gas stations are jammed with cars.
I pumped $100 in the work truck.
Why?
The News announced today gas will go up tonight to $1.97.9 tonight due to the war in Ukraine.

Inflation/recession….here….we….come.

———-

Yikes!!

———-

I know. That 3-gallon can for the lawnmower and chainsaw, transported carefully in the Tesla’s frunk to avoid spillage, will cost around $20 (each time!) every couple of months.

Highway robbery. Thankfully offset by leaps in O&G holdings.

#93 Jenna on 03.02.22 at 4:41 pm

LOL !!!!

Canadian are swamped in epic debt…increasing key rates will send households onto the streets and food banks.

What a pickle the CB’s have placed all Canadians since 2008. Irresponsible !!! Also the CB’s tool box is empty !!

Old solutions will not fix this dilemma. Amen.

#94 Ponnaps on 03.02.22 at 4:43 pm

It took months for the BoC to gather the courage to raise rates by a measly 25 bips.. it can only get tougher from here to keep going as frequently as you suggest.. I dont see more than 3 hikes happening this year..

Are you a macroeconomist? – Garth

#95 Stroller on 03.02.22 at 4:49 pm

Not stirring the pot, but genuinely curious:

How far behind interest raises by the central bank should one expect to see higher similar increases in savings rates at retail banks?

#96 VladTor on 03.02.22 at 4:51 pm

to #39 RichardTO on 03.02.22 at 1:35 pm

…European poodle governments have surrendered any perceived sovereignty just to appease their masters in Washington D.C. and assist them in their imperial crusade in Ukraine, against their own interests

************
What you may expect from EU Politians ruled by former gynecologist?

Ursula von der Leyen is President of the European Commission since 1 December 2019

After graduating as a physician from the Hannover Medical School in 1987, she specialized in women’s health.

https://ecamaastricht.org/blueandyellow-zoomingin/ursulavonderleyen-portrait

…After presenting her Political Guidelines, the 60-year old former gynaecologist was elected by the European Parliament with 383 votes, while 327 members voted against her, and 22 members abstained.

Incredibly petty. – Garth

#97 KLNR on 03.02.22 at 4:52 pm

@#86 T-Man on 03.02.22 at 4:27 pm
KLNR #63- Cancel CULT-ure doesn’t dwell here. You and your cohorts likely dwelling in mouldy basements, furiously trying to justify your outrage. While your mom bakes freedom fries upstairs. Hey guys, the new Mario cart just came out. LOL

good god you’re dense.

#98 Squire on 03.02.22 at 4:55 pm

Unfortunately, Taiwan is next. However, sanctions will not work with China and military action won’t work either. So, Taiwan will be easy in comparison to what’s happening in Ukraine.
In the meantime, China is indirectly funding the war via oil pipe line deal and revenues to Russia.
After all the wars, Afghanistan and covid the west doesn’t have the stomach to interfere in Ukraine expect by sanctions.
That being said, The Great Reset and Build Back Better are likely done and so is all the green initiative stuff and climate change bs. The Russian invasion changed that overnight.
The left woke just realized that maybe they made a mistake in not supporting energy independence. Ooops

#99 DON on 03.02.22 at 4:56 pm

#56 crowdedelevatorfartz on 03.02.22 at 2:47 pm
Well.

Gas is $1.86.9 today in Vancouver and the gas stations are jammed with cars.
I pumped $100 in the work truck.
Why?
The News announced today gas will go up tonight to $1.97.9 tonight due to the war in Ukraine.

Inflation/recession….here….we….come.

*********

Did the $100 get you a 1/4 tank?

If inflation forces people to cut back in a consumer economy…yikes is right.

#100 All lies and manipulated on 03.02.22 at 4:57 pm

My buddies was in Military intel. Can’t stand the lying media or the military.

He Says
“Maybe Ukraine should have done what they said they were going to do in Minsk II. Lately it was a really bad idea on their part to bomb and shell Dombass where 14,000 civilians have been killed by the “peaceful” government in Ukraine that is nothing more than a puppet for Nato and the US.
Every soldier on either side or civilian killed in this war was because Ukraine wouldn’t listen.
When Putin said Ukraine wasn’t going to join Nato, he meant it.”

Ill go with him as leaders are not leaders anymore. Just power hungry sociopath’s climbing a ladder to enrich themselves with no accountability and the media is crap. Shut off the telly tube.
Each to his own I guess.
Their a couple people here that get it.

Inflation the greatest means to tax the middle class and ensure their working for ever.

#101 TurnerNation on 03.02.22 at 5:06 pm

Food inflation.
https://finviz.com/futures_charts.ashx?t=ZW&p=m1
https://finviz.com/futures_charts.ashx?t=ZW&p=m1


–Once again the most culturally homogenous area of Kanada – the only one to get the prison curfews:

.Quebec Public Health scrambled to justify 2nd curfew hours before announcement (cbc.ca)

— More on the Permanent Rolling Economic Lockdowns. They are telegraphing it, manufacturing the consent.
This was not designed to “Be over”.

“Even before holdout province British Columbia has committed to dropping its vaccine passport and mask mandates, B.C.’s chief health officer Dr. Bonnie Henry is announcing that people should be prepared to see COVID restrictions return in the fall.:
https://tnc.news/2022/03/01/bonnie-henry-says-to-expect-covid-restrictions-to-return-before-she-even-drops-them/

#102 Hurtin' Albertan on 03.02.22 at 5:19 pm

We will need fossil fuels for many years but a transition is necessary, as rapidly as technology advances allow.

This is how we defeat Putin and other petrostate autocrats: https://www.theguardian.com/commentisfree/2022/feb/25/this-is-how-we-defeat-putin-and-other-petrostate-autocrats

#103 Ryan on 03.02.22 at 5:22 pm

Didn’t Trudeau’s government just quietly kill thier election promise to ban foreign buyers? Point is I’m a firm believer housing, though I own none, will be a large factor in any interest rate increase. I’ve also been watching since 2009 houses only outpace my salary and savings. I’m one of those mills who reads FB and I seriously doubt will see sub $800k houses in GTA ever again, whatever the ratio to income is.

#104 Brian on 03.02.22 at 5:24 pm

So what changed?

Ontario Science Table alumnus, desperate to be on the right side of history, now decides that there is no need for a 3-dose vaccine passport, or any vaccine passport, despite feverishly endorsing these until recently.

#105 T-Man on 03.02.22 at 5:38 pm

DELETED

#106 Michael in-north-york on 03.02.22 at 5:38 pm

#81 Brian on 03.02.22 at 4:13 pm

Zoltan Pozsar Warns Russian Sanctions Threaten Dollar’s Reserve Status

But the most surprising take comes from former NY Fed staffer, current repo guru and Credit Suisse money market guru Zoltan Pozsar – who on any other day would be a stalwart advocate of the status quo – and who ominously said that the response to Russia may have set off a sequence of events in motion that eventually leads to the demise of the dollar as the reserve currency.
===

Maybe, that’s not a problem, but a double gain? Whack the frigging kremlinfuhrer. And smack some sense into the Federal Reserve.

Once the dollar is no longer the universal reserve currency, the Fed will have to start taking the budget balance more seriously.

#107 Victor Maitland on 03.02.22 at 5:38 pm

@#100: Just power hungry sociopath’s climbing a ladder to enrich themselves with no accountability…

We already know that about Putin. Why don’t you try to add something to the conversation. By the way, if your “military intelligence buddy” was ever actually in possession of actual information, no way on earth would he share it with you. The media isn’t the only entity to lie. Sometimes it’s the guy you’re having a beer with.

#108 VladTor on 03.02.22 at 5:45 pm

Incredibly petty. – Garth
***********
Disagree! Nothing personal!

This is just fact showing level of professionalism modern politicians.

We have here good example – nonfinancial finance minister (Garth, whenever I remember this – I’m smiling. Thank you for idea!).

If you check background others EU politicians you will be surprised.

If you have a choice for example for pilot. Who you will regard as the best. Pilot who changed 5 professions b’s he wasn’t successful in all of them and now he is pilot OR your choice will be pilot with 20 Years non stop experience in only one pilot profession.

Same for politicians .

#109 active on 03.02.22 at 5:46 pm

The macro guys on this pathetic blog have been saying for years now that “interest rates can’t go up” and now that they have, their response is “but, but, there will be no more than 3 hikes this year” … LMAO…. we have become a nation obsessed with what the Fed/BoC will do with interest rates, it’s rather pathetic. I thought everyone in BC are multi-millionaires? but yet they’re scrimping/saving lining up at the gas stations before gas prices go up further….LMAO, pathetic

#110 T-Man on 03.02.22 at 5:46 pm

#91 – ifartinyourgeneraldirectionandenyit:
Some say there are no atheists in foxholes, comrade, but there are pizza pops in mom’s freezer.

#111 Glory to Ukraine on 03.02.22 at 5:49 pm

36 Søren Angst on 03.02.22 at 1:23 pm
10 min ago on Twitter…

https://twitter.com/nexta_tv/status/1499085205197447174

#Russian businessman Alexander Konanykhin has put a $1,000,000 reward for Putin’s head

————————————————————————————————

Lol. For less than the cost of a Toronto slanty semi, you too, can have the head of a psychotic despot served on a platter . . .

#112 Barb on 03.02.22 at 5:51 pm

#67 Crystal ball futurist

You omitted nuclear subs in the Arctic.
NORAD?

#113 willworkforpickles on 03.02.22 at 5:51 pm

“Longer term? Like in 18 months?
Ukraine will be over. Inflation may be muted”
…………………………………………………………………..

Faith in the temporary and artificially boosted 6.7% GDP figures being sustained through this year? Not even questionable. Won’t come close. I have even less faith for inflation subsiding any. Inflation is here to stay and won’t be cooling off anywhere near what could be considered “muted” later on.
The Fed has just been gifted with a new excuse to use to blame on the inflation they created and built up through the years… conveniently distancing themselves (somewhat) from it and enabling them to falsely declare with regard to the Russian Ukraine war, that it is and will be cause for what they can and will falsely state once again, a transitory inflation.
There’s going to be more Fed-speak the mainstream will fall hook line and sinker for (again) kick-starting more Fed action to wreck the economy further with.
Through myopic focus, without exception, the constrained mainstream parameters of economic data constituting an agenda in keeping with current day to day financial business is indeed the norm the general masses are spoon fed. The usual make-up of limited economic data encompassed even forms the basis for giving professional advice generally speaking. There’s just no breaking down the facade shielding GDP and inflation from the hard facts perpetually absent to define them.

The facade of raising interest rates tiny increments to cool inflation that is nothing but a smokescreen that won’t work will carry on.

The Fed will have no choice but to pile on the QE later in the year is what they won’t tell you now. But they will do it. There is higher and more inflation to come of that.

Even the CPI adjusted inflation rate will be headed higher in 2022.

Stagflation. Little to no economic growth with increasingly higher inflation…is really whats in the cards down the road.

Beware all the smooth talk that temporarily makes one feel good. The mainstream is all over and all about that.

#114 Yukon Elvis on 03.02.22 at 5:51 pm

The Kyiv [email protected]·27m⚡️
Kherson Mayor Kolykhaev: “The city is surrounded.”

According to Kherson mayor Igor Kolykhaev, the situation in the southern regional capital is tense with Russian troops entering the city and taking administrative buildings.
************
Just read this statement on the Independant. So the Russian troops enter the admin buildings and find that everyone is working from home. No one there. Russian troops need a place to sleep so they set up to spend the night. Ukrainians wait for the place to fill up and then fire bomb it with Molotov cocktails in the middle of the night and shoot anyone trying to leave with the AK47s that were handed out to everyone.
Eighteen months Garth?

#115 DON on 03.02.22 at 5:53 pm

#77 Yukon Elvis on 03.02.22 at 4:02 pm
#69 the Jaguar on 03.02.22 at 3:20 pm

Aren’t we at least owed some historical context or public debate before we start shipping guns, etc.?
+++++++++++++++++

Historical context is good. Present day 21st century context is even better. Hitler and Napoleon are gone and they are not coming back. Modern day Russia is not invadeable by anyone and is in no danger of losing any sovereign territory to anyone nor does anyone want to invade the damn place. Russia is the aggressor here, not Ukraine and not Nato.

************
We owe it to ourselves to approach the situation in a rational manner. Know your enemy. If Putin is mad…well we have a problem. You want to go in guns a blazing?

#116 west coast on 03.02.22 at 5:54 pm

#103 Ryan
yes, i did the same. since 2010 i have been watching the housing market. reading this blog. thinking that there will be a time to jump in, when i could afford it. i took the leap, used a good chunk of investments for a down payment 1.5 years ago. i got lucky. but would have been nice to be able to jump in earlier.

#117 red falcon on 03.02.22 at 5:58 pm

to those who said interest rates cannot be raised? psssshaw!

to those who said houses always go uppa uppa? Pssshaw, up your ASDF.

meow meow will live on, and get lots of dividends raised every year to fight off the inflation wars, and then survive! some people just don’t know, how do they know? they won’t, or they just don’t care to listen. pssshaw to them.

psshaw cat.

#118 Nonplused on 03.02.22 at 6:00 pm

Yes, it is important to keep focused on the larger picture, and the things you can do about it. For many people inflation and rising interest rates are the things they personally need to manage.

Ukraine is a local problem and Russia is going to manage it how they see fit, whether we like it or not. People can argue at length about whether the invasion was justified or not, but as always there are two sides to every story. Ukraine was a vile pit of corruption, murderers, and thieves before, and the invasion probably won’t change that. The shelling of the Donbas will stop though, along with any questions of NATO missiles. But as they say, “that ain’t my pig and it ain’t my farm”. People are spending way to much time on “the ghost of Kiev” and other internet frauds.

The sanctions will probably be a nothing burger. A map of the world showing which countries are sanctioning Russia shows that they are almost all NATO countries save a few allies like Japan and Australia. NATO has been at war with Russia since its formation so nothing there has really changed other than to get worse. Russian oil that doesn’t flow to Europe will just flow to China. That will free up other oil probably middle eastern to flow to Europe. That’s a whole lot of shipping for no good reason, but that’s all it is.

The big winner of this whole thing seems to be China over the medium term. Their food and energy security just got a lot better, at the expense of Europe. China now has a captive supplier who for security reasons doesn’t want to do business with the west anymore. And since China makes literally everything now, it probably won’t hurt Russia all that much over the long haul. Heck we even use Chinese pump ends for fracking here in Canada. Valves and pipe too. Can’t make them ourselves for the price. So no, Russia will not depend on western oil technology going forward. They don’t really now. Maybe fore the LNG plants, but it looks like BP is going to give their interest to Russia for free or nearly free. Russia will then be free to send those cargos to China.

But these are all distant problems in distant lands. Bill C-11 should probably have Canadians more concerned. If you thought the “emergency act” was bad, sort of like shooting a lame horse with a cannon, wait until you see what else Trudeau has in mind.

So you have to plan your own life as if it will go on, pretty much the same as before except for the larger trends, which are changing. Those right now are rising inflation and rising rates.

Buy all the things. 2 is the new 1.

#119 Mark on 03.02.22 at 6:01 pm

Garth,

Why have preferred shares dropped in value the last few weeks? This started before the 5y bond rates dropped since the russian invasion so I’m wondering what the underlying reason is. Thanks!

#120 IHCTD9 on 03.02.22 at 6:11 pm

#92 Sail Away on 03.02.22 at 4:41 pm
#84 IHCTD9 on 03.02.22 at 4:23 pm
#56 crowdedelevatorfartz on 03.02.22 at 2:47 pm

Gas is $1.86.9 today in Vancouver and the gas stations are jammed with cars.
I pumped $100 in the work truck.
Why?
The News announced today gas will go up tonight to $1.97.9 tonight due to the war in Ukraine.

Inflation/recession….here….we….come.

———-

Yikes!!

———-

I know. That 3-gallon can for the lawnmower and chainsaw, transported carefully in the Tesla’s frunk to avoid spillage, will cost around $20 (each time!) every couple of months.

———-

I might have to keep track of mower gas this year. My mower has a 28HP V-Twin and weighs 1200 lbs. It eats gas like crazy for what it is. I started filling two 20 litre cans per trip after running it for a while.

Damn glad I’m a product of the pre-Trudeau era, at least I don’t have a 7 figure mortgage to feed as well.

#121 Third dose why? on 03.02.22 at 6:28 pm

#104 Brian on 03.02.22 at 5:24 pm
So what changed?

Ontario Science Table alumnus, desperate to be on the right side of history, now decides that there is no need for a 3-dose vaccine passport, or any vaccine passport, despite feverishly endorsing these until recently.

///////////////////////

Well the three dose passport never made any sense in the first place.
The recommendation is that one not get the third dose if they have contracted Covid in the previous three months. Okay be that as it may, for the last two months only select groups have been able to get tested.
So almost nobody is in the know if they have officially had Covid or not (symptomatic or not) because there has been no testing, so how can you tell them to get their third shot?
Or restrict their access to anything.

#122 T-Man on 03.02.22 at 6:29 pm

Dear #91 – iknowagirlwhosellsfartzinjarz:

If you must know, my friend, I’m Canadian. I’m nobody. I’m a voice crying in the wilderness. I’m technically American. 2 grandparents were born in the U.S.A. 2 in Sweden, all immigrants to Canada. 2 uncles served Canada in WW 2, one wounded. My dear uncle lost a brother fighting the Germans near Caan in 1944. Their family was never the same. So war sucks and the victorious side writes the history.

#123 T on 03.02.22 at 6:33 pm

#104 Brian on 03.02.22 at 5:24 pm
So what changed?

Ontario Science Table alumnus, desperate to be on the right side of history, now decides that there is no need for a 3-dose vaccine passport, or any vaccine passport, despite feverishly endorsing these until recently.

—————

The virus

#124 mother in law sweeeet on 03.02.22 at 6:47 pm

house prices near the top?? one thing you forgot to mention..the Bank of MOM..free money for the kiddies, inheritance…now or later? and don’t forget Uncle Justin giving the first-timers a good chunk of our deficit$$$..rate hikes? PPFFFFT..
love those bidding wars..

#125 Mike on 03.02.22 at 6:53 pm

Why do I keep hearing about the “world” standing united against Putin?

As far as I’m aware, China and India who have quietly approved of Russia’s military operation, represent 2/3rds of the world population.

When the US invaded the sovereign nation of Iraq in 2003 under a completely fabricated pretence, the treacherous West clapped and applauded with only a few feigning outrage. To this day we have not received ANY explanation as to what the legal basis is for the presence of US occupation forces inside the country of Syria, which has a sovereign and elected government….

Western Values® on full display once again. I’m not surprised the southern hemisphere of the globe (historically victims of Anglo/West European racism and exploitation) are generally polling more favourably for the Russian action.

IMO, the dollar and the US have to be broken to cease this constant imperialism and unrestrained bellicosity.

#126 pPrasseur on 03.02.22 at 6:59 pm

#118 Nonplused

Ukraine is a local problem and Russia is going to manage it how they see fit

Hardly local in its impacts and reactions and Russia is in way over its head on this one. Not going to end well for them.

The big winner of this whole thing seems to be China over the medium term.

China is having its own economic meltdown as we speak in the form of their giant Ponzi RE bubble on the brink of collapse and western companies relocating in droves. Surely China is taking notes about the effects of sanctions on the Russian economy.

The sanctions will probably be a nothing burger.

Now that is just plain dumb!

You’re wrong on just about everything, congratulations!

#127 Michael in-north-york on 03.02.22 at 7:09 pm

#111 Glory to Ukraine on 03.02.22 at 5:49 pm

36 Søren Angst on 03.02.22 at 1:23 pm
10 min ago on Twitter…

https://twitter.com/nexta_tv/status/1499085205197447174

#Russian businessman Alexander Konanykhin has put a $1,000,000 reward for Putin’s head
————————————————————————————————

Lol. For less than the cost of a Toronto slanty semi, you too, can have the head of a psychotic despot served on a platter . . .
===

The offer could certainly be improved (and probably is; real things on that kind do not end up on the public twitter).

But the concept is very promising.

#128 pPrasseur on 03.02.22 at 7:20 pm

If you think sanctions are not so bad and Russia will somehow get by, ponder this:

Every phone, computer and tablet in Russia is either American or at least run on operating system made by American companies.

Already Google Pay and Apple Wallet don’t work there any more, big lineups at Moscow metro stations, you don’t think that’s the worse they can do do you?

This is no longer the KGB era where you need to physically arrest people, this is the zoom era, where you can shutdown a whole country (or like our dear PM freeze bank accounts of people you don’t like) from the comfort of your office!

#129 crowdedelevatorfartz on 03.02.22 at 7:20 pm

@#122 Tears Man

No, I really don’t need to know your life history….

But I find it ironic that you defend a murderous, scheming dictator like Putin when you admit a relative died fighting Hitler, a murderous , scheming dictator…

#130 Ponzius Pilatus on 03.02.22 at 7:21 pm

#92 Sail Away on 03.02.22 at 4:41 pm
#84 IHCTD9 on 03.02.22 at 4:23 pm
#56 crowdedelevatorfartz on 03.02.22 at 2:47 pm

Gas is $1.86.9 today in Vancouver and the gas stations are jammed with cars.
I pumped $100 in the work truck.
Why?
The News announced today gas will go up tonight to $1.97.9 tonight due to the war in Ukraine

Inflation/recession….here….we….come.
———
Yikes!!
———-
I know. That 3-gallon can for the lawnmower.
chainsaw, transported carefully in the Tesla’s frunk to avoid spillage, will cost around $20 (each time!) every couple of months.
—————-
I would worry more about the battery burning up your precious toy, then a litlle spill from your Jerrycan.

#131 crowdedelevatorfartz on 03.02.22 at 7:24 pm

@#120 IHCTD9

Yeah,
I was thinking $2 litre gas by July 1st but Putin beat us to it.
Watch everyone tighten their sphincter and stop spending ….cause they need to eat.

Wages chasing inflation as the govt tries to get a handle on it with interest rate hikes……

No debt and a bunch of cash is a good place to be.

#132 Cici on 03.02.22 at 7:35 pm

Glory to Ukraine!

May the entire world come out of this mess stronger and more united than ever.

And may all our children, the world over, know no more wars or hunger, banking instead on peaceful prosperity, strong cooperation and equal opportunity.

Amen.

#133 Brian on 03.02.22 at 7:35 pm

Economic Warning! Energy = Imminent Financial/Economic Disaster

The federal reserve and the lack of oil investment.

https://www.youtube.com/watch?v=uk8vIA3EhPc

#134 Shawn on 03.02.22 at 7:51 pm

China and India population

#125 Mike on 03.02.22 at 6:53 pm
Why do I keep hearing about the “world” standing united against Putin?

As far as I’m aware, China and India who have quietly approved of Russia’s military operation, represent 2/3rds of the world population.

******************************
Might want to check your facts. China and India have 1.4 billion people each. The world has 7.9 billion. So, those two account for a hefty 35% of the total world population. That’s a lot but also a far cry from the 2/3 or 67% that you are “aware” of. Maybe you meant to type 1/3rd?

#135 Yukon Elvis on 03.02.22 at 7:52 pm

#92 Sail Away on 03.02.22 at 4:41 pm

That 3-gallon can for the lawnmower and chainsaw, transported carefully in the Tesla’s frunk to avoid spillage, will cost around $20 (each time!) every couple of months.
++++++++++++++++
That will be quite the show when the battery in your Tesla catches fire. Do u have a dash cam ?

#136 NoName on 03.02.22 at 8:00 pm

#133 Brian on 03.02.22 at 7:35 pm
Economic Warning! Energy = Imminent Financial/Economic Disaster

The federal reserve and the lack of oil investment.

https://www.youtube.com/watch?v=uk8vIA3EhPc

Ima no expert on oil, but from what i understand to start shale well doesn’t take that much, 9-12weeks comparing it to traditional what is many multiple of that.

Does anyone knows who many is there formerly unprofitable wells/rigs is just sitting out there?

https://www.dallasfed.org/-/media/Documents/research/energy/energycharts.pdf/

#137 yvr_lurker on 03.02.22 at 8:05 pm

I don’t see this being “over” in any short time period…. Glory to Ukraine…

I said 18 months. And I am probably correct. – Garth
——

Let’s check back in 18 months. COVID was a few years, and possibly has some surprises left with new variants (hopefully nothing more lethal than omicron), but this situation is potentially far more a game changer.

The western world is now under NO illusion who Putin is, and has a collective resolve to deal with it. There were no repurcussions for the Malaysian airline bombing

https://en.wikipedia.org/wiki/Malaysia_Airlines_Flight_17

in 2014, and Putin’s behavior has only intensified since then. Now the free world is FINALLY read to act, by punishing him (and unfortunately the average Russian citizen) by economic warfare. Is Putin going to be gone in 18 months?: (if so, you are correct). If he is still there in 18 months, is everyone (western world, companies Exxon, Mobil, Apple) going to “forget” these days and get back to business as usual? I don’t think so, and sincerely hope not. Frankly, I would be on the fence with using NATO to blow up his long convoy leading to Kiev. He needs to be stopped…. Worst situation that I can remember since the mid 1980s…. and takes us back to those times…

#138 crowdedelevatorfartz on 03.02.22 at 8:12 pm

@#130 Ponzies Positivity Prevails
“I would worry more about the battery burning up your precious toy”

++++

Grumpy McGrumpster rides again.
Ponzie’s perpetual poo pooing never ceases to amaze.
Parents hide your toys or you never got any?

A song just for you Ponzie.

https://www.youtube.com/watch?v=SJUhlRoBL8M

#139 VladTor on 03.02.22 at 8:23 pm

Russia doesn’t even seem to need to impose an embargo.

While in an unprecedented fit of hysteria over sanctions on Russia, the US and its Western vassal allies struggled to keep Russia’s energy supplies and economy functioning, and voters warm, the fuel market, including the oil market, went on strike anyway. Acting as if the energy sector is already being targeted by Western sanctions officials, refineries are refusing to buy Russian oil, and banks are refusing to finance the supply of Russian goods.

Exchange prices for coal in Europe also rose sharply, as the sanctions that were imposed on Russia after the start of the military operation on the territory of Ukraine are fraught with a shortage of this fossil fuel. The most liquid, April, coal futures in Rotterdam soared on Tuesday, March 1, by 33.5% to $311 per ton, while March showed about the same percentage increase, closing at $330 per ton.

Currently, there are only limited alternatives to Russian supplies as a source of coal for European power plants. According to Eurostat, in 2020, 49% of its exports to the EU accounted for Russia, and most of it was intended for Germany.

The self-imposed embargo (for example Canada decided to be first among West countries and will not buy Russian oil – I’m proud – Canada first!), which effectively halted most Russian oil shipments, threatens to drive up energy prices around the world, reducing the flow of oil from a market that was tight even before Russia’s operation in the former Ukraine.

Oil tanker owners have already started avoiding Russian ports out of concern that oil sanctions may also be coming soon, and as a result, prices for oil tankers on Russian routes have risen nine-fold in the past few days.

Brent crude futures, a benchmark on international energy markets, rose to $ 110 a barrel.

Russia is responding quickly to a strengthening demand for its oil, a vital source of dollars now that the country’s foreign exchange reserves have been frozen by the West.
Companies including state-owned giant Rosneft have refused to offer oil on a so-called FOB basis, in which buyers charter the ship themselves, finance and insure the shipment, traders and oil executives say. Instead, they offer oil on what is known in industry jargon as CFR.
Under this model, Rosneft will use vessels from the state-owned Sovcomflot fleet and deliver oil to the buyer’s door in exchange for cash, which means that the buyer does not have to worry about transportation, trade financing or insurance.
_________
Memo:

The 1973 oil crisis (also known as the ‘oil embargo’) began on October 17, 1973. On this day, all Arab countries declared that they would not supply oil to countries (Great Britain, Canada, the Netherlands, the United States, Japan) that supported Israel during the Yom Kippur War with Syria and Egypt. Over the next year, the price of oil rose from three to twelve dollars per barrel (4 times, Karl !). In March 1974, the embargo was lifted, meaning the West lasted only six months.

_______________
And yes, Russia can open our own platforms or conclude long-term supply contracts with reliable buyers without any exchanges, as the issue is long overdue.
Six months have passed since the increase in oil, coal and gas prices to a level above the pain threshold in September. Only the reserves created to avoid the crisis have allowed us to hold on so far, but they are coming to an end, apparently. All the trumps in the form of printing out stocks have already been thrown on the table. And Russia started going only from the youngest.

Russia still silent about titanium, aluminum and palladium… while..

#140 Is Biden a Hypocrite? on 03.02.22 at 8:31 pm

Watched the southern speech last night from the strong, articulate Mr.Biden. What struck me was that there were NO masks on anyone when he entered and exited the bully pit..

Shook hands everywhere within inches of everybody. Filmed and transmitted all over the world…. Meanwhile mandates and restrictions for Joe Schmoe persist in Canada and other parts of the world to socially distance, mask up, get pricked 4 times or more and be safe.

No hypocracy here.

#141 Ponzius Pilatus on 03.02.22 at 8:32 pm

#128 pPrasseur on 03.02.22 at 7:20 pm
If you think sanctions are not so bad and Russia will somehow get by, ponder this:

Every phone, computer and tablet in Russia is either American or at least run on operating system made by American companies.

Already Google Pay and Apple Wallet don’t work there any more, big lineups at Moscow metro stations, you don’t think that’s the worse they can do do you?

This is no longer the KGB era where you need to physically arrest people, this is the zoom era, where you can shutdown a whole country (or like our dear PM freeze bank accounts of people you don’t like) from the comfort of your office!
—————–
IMHO, sanctions have a short-term effect, but in the long run, the sanctionee will strive to become more self sufficient, and sanctions wii lose their bite.
Just witness the rise of China, despite heavy sanctions from the US.
They are producing everything in house now.
They are even a space super power now.
Basic Macro Ecomomics will tell you it’s better to share the planet’s resources.

#142 Don Guillermo on 03.02.22 at 8:40 pm

#125 Mike on 03.02.22 at 6:53 pm

It’s amazing we got this far in the comment section before someone turned the crisis into a race bate rant.

#143 Mike in Airdrie on 03.02.22 at 8:56 pm

What do the Russian and Canadian central banks have in common?

They both doubled their interest rates over the past week. :)

#144 Shawn on 03.02.22 at 9:07 pm

OMG, oil is at $113 this evening and Western Canadian Select has crested $100 U.S. !!!

Alberta better send some more money to Quebec or it’s only going to clog up the streets around here… Rivers of cash flowing North from the U.S.!

AND single family homes sold in Edmonton in February averaged just $494. Condos averaged $227k. If you are young and mobile and can’t afford a house where you live, what are you waiting for!! Did I mention only 5% sales tax?

#145 Stone on 03.02.22 at 9:15 pm

You read the comments section and most of it is full of freedumb trucker shills, Russia shills, China shills, real estate shills, buttcoin shills, Tesla shills (those especially always on their knees ready to receive Elon’s deposits), equity cowboy shills, oil and gas shills, etc, etc, etc shills.

So few balanced and diversified portfolio shills. I guess it’s because most of the shills are poor and don’t have balanced and diversified investment portfolios.

#146 Ponzius Pilatus on 03.02.22 at 9:21 pm

To bad Merkel is gone.
She would take the two boys by their ears, bang their heads together and say:
“Play nice”.
I loved how she dressed down Trump during a G7 meeting.
He was scared of her.
We need more women in Eastern politics.

#147 yvr_lurker on 03.02.22 at 9:22 pm

Problem is that I am not objective with this conflict. My wife is 1/2 Ukrainian (from Edmonton) with some elderly relatives still living in the West Ukraine weathering this shitstorm. Holodomor revisited. This will not end well, and we will not forget.

#148 Quintilian on 03.02.22 at 9:23 pm

“Economic growth in Canada was very strong in the fourth quarter of last year at 6.7%.”

Not to minimize the positive, but that number is amplified by the unreported inflation.

Even though increases in costs at the producer level have yet to truly register at the consumer level.

That aside 6.7% GDP sounds impressive, but it’s coming from a low base, but more importantly GDP is not a true measure of individual prosperity; what would be somewhat better of a measure, would be
GDP per capita.

#149 The West on 03.02.22 at 9:30 pm

The Germans are re-arming.

As I have said in this steerage for years now:

The Anglo American Age is over.

#150 Mr Canada on 03.02.22 at 9:30 pm

So, my investment property variable mortgage goes from 1.45% to 1.7% tomorrow, and might go up another 75 basis points by the end of 2022 to 2.5%? Yet inflation is 5.3% and climbing, so last time I checked, it’s still free money. Sure beats my first mortgage of 12% some 20 years ago.

#151 VladTor on 03.02.22 at 9:49 pm

Garth

Did you drew attention to what fantastic speed on this blog experts on coronavirus turned into experts in geopolitics, Putin and Ukraine?

Viruses are studying in medical school at least 4 years, political sciences at the university 5 years and only a few days need to become an expert in both of these disciplines. And it’s free!

The only condition is to visit this blog every day.

#152 Victor Maitland on 03.02.22 at 9:59 pm

Putin’s popularity is no mystery. The world is full of angry beta males in desperate need of a strongman hero to rally behind.

#153 Odif on 03.02.22 at 10:11 pm

Garth, I was wrong, so I owe you $5 in Dog coins. Would you like me to send to you or just donate to Ukraine (they are accepting Crypto donations)?

#154 Adrian on 03.02.22 at 10:32 pm

T-Man on 03.02.22 at 10:52 am
When N.A.T.O./Murica were bombing civilian infrastructure and cities in several countries, for our free dumb, not a peep from all you fake Ukkie lovers. Bandwagon jumpers, war lovers, and vengeance seekers dwell here. Celebrating Right Sector and Azov Battalion murderers, drinking the lying mockingbird msm kool-aid. Good job!

Are you advocating for Putin you truth-knower? Of course there is more than one side. . . . Don’t pretend like you know more than you actually do — or people who read actual newspapers. Putin apologist!

#155 Sail Away on 03.02.22 at 10:50 pm

#144 Shawn on 03.02.22 at 9:07 pm

OMG, oil is at $113 this evening and Western Canadian Select has crested $100 U.S. !!!

Alberta better send some more money to Quebec or it’s only going to clog up the streets around here… Rivers of cash flowing North from the U.S.!

AND single family homes sold in Edmonton in February averaged just $494. Condos averaged $227k. If you are young and mobile and can’t afford a house where you live, what are you waiting for!! Did I mention only 5% sales tax?

———-

I think Gamehost, with three Alberta casinos/hotels is just beginning a great run. Join me. Do due diligence and take a position?

Nothing cash-flush roughnecks love more than a casino.

#156 Brian on 03.02.22 at 11:03 pm

How long does it take to set up a fracking site?
This whole process of developing a well typically takes from 3-5 months and includes the following activity: a few weeks to prepare the site. eight to twelve weeks to drill the well. one to three months of completion activities including between one and seven days of stimulation.

https://www.ipaa.org/fracking/#:~:text=The%20process%20takes%20about%20three,%2C%20even%20decades%2C%20to%20come.

#157 Barb on 03.02.22 at 11:04 pm

#146 Ponzius Pilatus

To bad Merkel is gone.
She would take the two boys by their ears, bang their heads together and say:
“Play nice”.
I loved how she dressed down Trump during a G7 meeting.
He was scared of her.
We need more women in Eastern politics.
———————————
Agreed.
Need women to lead countries, period.

Enough of these egotistical, uber-competitive and pompous control-freaks. Let them all retire to count their chest hair.

Women, especially mothers/grandmothers, will always use dialogue to solve a problem until it’s resolved. Sure, go stand in the corner until you cool off. Because no mother or grandmother wants her children placed in harm’s way.

Women have no time for nonsense and posturing.

#158 Greg on 03.02.22 at 11:07 pm

The Saudi oil bomb in 2020 came out of nowhere, tanked oil prices. Seems like that could happen again at anytime. What else would reverse the pain at the pump?

#159 PeterfromCalgary on 03.02.22 at 11:28 pm

DELETED

#160 Mike on 03.03.22 at 12:17 am

The Zelensky regime is handing out fully automatic weapons by the truckload to anyone willing to scavenge them from the ground:

https://twitter.com/ScarecrowShane/status/1498186131497979904

This kind of criminality and militarization of the civilian population I believe was last seen in the dying days of the Third Reich in 1945. There are already reports of marauding armed gangs and scores being settled.

Those of you that jumped on the FREEDUMB TO YOOKRAINE bandwagon are going to probably have to start sanitizing your Twitter and Facebook postings when the full picture emerges and the narrative changes.

#161 Diamond Dog on 03.03.22 at 12:18 am

#126 pPrasseur on 03.02.22 at 6:59 pm

Right you are.

“Ukraine was a vile pit of corruption, murderers, and thieves before, and the invasion probably won’t change that.” – Nonplused

That’s not just a highly insensitive thing to say considering the circumstances, how gullible or easily influenced is a person to both believe and parrot generalities like that. It’s like there’s no filter, no BS meter, just words puked up from someone who goes to politicized sites and believes everything he reads. Cringe worthy.

#128 pPrasseur on 03.02.22 at 7:20 pm

Right you are there too.

Ukraine asked for the world to shut down Russian internet today:

https://cherumbu.com/technology/ukraine-asks-icann-to-revoke-russian-domains-and-shut-down-dns-root-servers-cherumbu-news/

On one hand, it would devastate an already shattered economy. On the other hand, what’s going on in the Russian internet is a literal documentation of war crime propaganda. There will be enough truth as well come out for Russians who want to know what’s really going on in Ukraine. There is good reason to keep it going.

What struck me the most about Ukraine’s ask (we take so much for granted), is that it could be done and quite quickly if the powers that be wanted it done. I don’t think us plebs appreciate the true scope of that kind of soft power. If Ukraine is reduced to rubble and Putin’s plan is to simply plant a flag and move Russians in there to take over, we could very well see that happen. No matter what happens from here now, readers should not be confused, this will end badly for Russia.

I also don’t think us plebs appreciate how crippling sanctions from the west will be for Russia. This isn’t a halfhearted NATO sanction effort like it was with Crimea, the whole of Europe and the western world is in on this one with sanctions going much, much farther. It may take some time, but the Ruble will be worthless or next to it in the not so distant future. The Ruble could very well be the next Fiat currency in the world that will fail:

https://www.xe.com/currencycharts/?from=RUB&to=USD

Russian stock markets remain closed for fear of a fatal crash which is likely if they do open. A depression is coming there soon. There is a visceral energy working against Russia as a consequence of Putin’s invasion of Ukraine. Nothing will stop that now.

#162 Ponzius Pilatus on 03.03.22 at 12:32 am

158 Greg on 03.02.22 at 11:07 pm
The Saudi oil bomb in 2020 came out of nowhere, tanked oil prices. Seems like that could happen again at anytime. What else would reverse the pain at the pump?
———————-
Pain at the pump?
Are we all becoming such wusses?
You probable were afraid of the needle, too.

#163 Dr V on 03.03.22 at 12:35 am

151 Vladtor

“The only condition is to visit this blog every day.”
———————————————-

How do you think I became a Dr?

#164 Diamond Dog on 03.03.22 at 12:38 am

#157 Barb on 03.02.22 at 11:04 pm

My mom said the same thing just this week, that there would be a lot less war if mothers ran the world. One of her friends brought up Margret Thatcher as an example of a woman that started a war to which my mother replied quickly, “she didn’t have children”.

#165 Jughead on 03.03.22 at 12:49 am

#9 Sail. You’re late to the game. I bought NTR at $46.50. it’s $ 111.11 right now. A little better than the 52% you’re bragging about. Here’s the question, ‘Are you going to follow Jesse Livermore’s sage advice ” When they’re yelling you should be selling”? I know where I’m at. Where are you on when to buy/sell? Jughead

#166 Dr V on 03.03.22 at 12:53 am

Even though I might have made it through the credit card cycle without a fill up, chose to take the F150 to town for errands today. Elected to put $100 in, even if it wasnt quite full. First good omen was that it clicked off at $99.xx and I had to squeeze in the $100.

My son texted his mom at the end of his work to say gas had risen 13 cents/litre.

I reset my one year odo to zero. Put on 5100k in last 12 months, including a little contract work.

I’ll try to use it “efficiently” by multi-tasking as much as I can.

Ponzie/Fartz – how am I doing?

#167 DD on 03.03.22 at 5:28 am

Early signs of an inflection point:

Vancouver Sun:
“The Fraser Valley Real Estate Board reported 3,742 new listings in February, a rise of 75.3 per cent from January, and up 14.6 per cent compared with February last year.”

Globe:
https://www.theglobeandmail.com/real-estate/toronto/article-toronto-homebuyers-pull-back-from-overheated-market/

#168 Joe Lalonde on 03.03.22 at 5:49 am

One business will absolutely be exploding higher in near future…
BANKRUPTCY.
Not a single business out there not contemplating this unless your a Bank.
Since our politicians have done a bang up job of diversity of parts to put something together.
This is just the iceberg breaking into reality of poor decision planning.

Short game is huge hit to city budgets as well.

Long game goes to Russia and China who didn’t follow the Climate Accords even though China kept agreeing.

#169 BillyBob on 03.03.22 at 6:42 am

#61 Ponzius Pilatus on 03.02.22 at 2:53 pm

Sure, it’s a beautiful place.
But so are many other cities on this planet.
Beauty is in the eye of the beholder.
Enjoy it.
But just have your packs ready to jump on a train to Vienna or Berlin before only real old people and kids are allowed to leave.

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

Well, I do agree that beauty is subjective. I don’t know anyone who would trade Salzburg for Surrey and think it an upgrade but to each their own lol.

Are you saying that if the Russkies make it to Prague they’ll stop before heading to Vienna? Good to know. Thing is, I’d fight for the Czechs long before I’d lift a finger to defend Trudeau’s Canada. CZ actually seems like a place worth fighting for. Not to mention it’s my home. :-)

And lest Elon Musk get all the glory for his philanthropy, let it not be said that Ms. BB and I aren’t doing our part. We’ll be contributing heavily to this cause on Saturday.

https://www.praguemorning.cz/beer-festival-for-ukraine-prague/

#170 Fortune500 on 03.03.22 at 7:13 am

First of all, an 18 month guarantee on the war in Ukraine seems flawed to me. This has the potential to either spill over, or settle in to the kind of slow burn we have seen in Vietnam and Afghanistan.

Secondly, I see this period as no different than 2017-2018. We will raise rates to a point, then stop. Especially considering the debt levels now. Some new reason will come up.

The question is how much of this inflation is still transitory due to Covid and supply chains. And the other question is, how much will people just change their spending habits to adjust, giving the central bank more breathing room. I think these are both worth considering.

Regardless, with the number of immigrants we are looking to bring in, the increased buying by investment funds, and the continued ‘safe stable’ reputation Canada has to people trying to get their money out of their own countries, any downturn is likely to be short lived. Sadly.

#171 BillyBob on 03.03.22 at 7:21 am

#157 Barb on 03.02.22 at 11:04 pm
#146 Ponzius Pilatus

To bad Merkel is gone.
She would take the two boys by their ears, bang their heads together and say:
“Play nice”.
I loved how she dressed down Trump during a G7 meeting.
He was scared of her.
We need more women in Eastern politics.
———————————
Agreed.
Need women to lead countries, period.

Enough of these egotistical, uber-competitive and pompous control-freaks. Let them all retire to count their chest hair.

Women, especially mothers/grandmothers, will always use dialogue to solve a problem until it’s resolved. Sure, go stand in the corner until you cool off. Because no mother or grandmother wants her children placed in harm’s way.

Women have no time for nonsense and posturing.

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

Oh please. This old trope. “Women leaders would be saintly grandmothers if they were just in charge”. Except, history isn’t short of females either on or behind the throne calling the shots and they weren’t exactly the kindly benevolents you describe. Hell Ms. BB herself has on more than one occasion quenched her thirst with the tears of her enemies lol. Don’t kid yourself, women are every bit as fearsome as men and often, more so.

The tyranny of rulers is far more related to the absoluteness of their power than by what genitalia they possess. Bringing balance by cultivating the best qualities of each gender would be the ideal. And so yes, I heartily agree we need far more women in leadership. But the idea that they would be inherently more peaceful and without ego is naive in the extreme.

#172 crowdedelevatorfartz on 03.03.22 at 8:23 am

@#157 Barb
“Women have no time for nonsense and posturing.”

+++
Indira Ghandi was quite a “peacekeeper”.
First a war with China then a war with Pakistan.

https://en.wikipedia.org/wiki/Indo-Pakistani_War_of_1971#:~:text=This%20air%20action%20marked%20the,on%20Pakistan%20from%20all%20fronts.

But I always thought her “forced vasectomy” doctrine was by far the most unique and original way to control the exploding Indian population.

The army would surround a village and the men would be rounded up…snip snip.

https://qz.com/india/1414774/the-legacy-of-indias-quest-to-sterilise-millions-of-men/

Then we had Maggie Thatcher who was dropping precipitously in the polls after her hated economic policies crushed the unions…
Along came those pesky Argentinians to invade “Los Malvinas” aka The Falkland Islands.
What better an opportunity to get everyone’s mind off Maggie and on to “rescuing a bunch of sheep farmers” at the end of the world.

https://www.history.com/news/margaret-thatcher-falklands-war

Yes.
Ladies would never, ever use a convenient war to prop up their standing in the polls……..

#173 crowdedelevatorfartz on 03.03.22 at 8:23 am

@#157 Barb
“Women have no time for nonsense and posturing.”

+++
Indira Ghandi was quite a “peacekeeper”.
First a war with China then a war with Pakistan.

https://en.wikipedia.org/wiki/Indo-Pakistani_War_of_1971#:~:text=This%20air%20action%20marked%20the,on%20Pakistan%20from%20all%20fronts.

But I always thought her “forced vasectomy” doctrine was by far the most unique and original way to control the exploding Indian population.

The army would surround a village and the men would be rounded up…snip snip.

https://qz.com/india/1414774/the-legacy-of-indias-quest-to-sterilise-millions-of-men/

Then we had Maggie Thatcher who was dropping precipitously in the polls after her hated economic policies crushed the unions…
Along came those pesky Argentinians to invade “Los Malvinas” aka The Falkland Islands.
What better an opportunity to get everyone’s mind off Maggie and on to “rescuing a bunch of sheep farmers” at the end of the world.

https://www.history.com/news/margaret-thatcher-falklands-war

Yes.
Ladies would never, ever use a convenient war to prop up their standing in the polls……..

#174 Sail Away on 03.03.22 at 8:33 am

#165 Jughead on 03.03.22 at 12:49 am

#9 Sail. You’re late to the game. I bought NTR at $46.50. it’s $ 111.11 right now. A little better than the 52% you’re bragging about. Here’s the question, ‘Are you going to follow Jesse Livermore’s sage advice ” When they’re yelling you should be selling”? I know where I’m at. Where are you on when to buy/sell? Jughead

———-

Good work. Similar to many of my holdings, I don’t really ever plan to sell unless fundamental company weaknesses are exposed. NTR and BHP each have hundreds of years of reserve and fertilizer will always be needed. Might take a little off the top here and there and will definitely add at dips, but definitely not doing anything while Ukraine’s bubbling away and constricting Russian/Belarussian supply. You?

#175 crowdedelevatorfartz on 03.03.22 at 8:34 am

@#169 BillyBob
“I’d fight for the Czechs long before I’d lift a finger to defend Trudeau’s Canada.”

+++

Not to worry BB.
Trudeau’s govt took 3 weeks to deal with a bunch of unruly truckers.
One can only imagine the endless meetings between police agencies, municipal, provincial, federal agencies.
The lawyers , the wokesters, the politically correct would all need their say as well.
3 weeks for a group that never should have even been allowed into the downtown.

A war with Canada would be long over before the politically correct bureaucrats in charge would agree on the drawing up of paperwork to create a statement to announce the governments intentions.

#176 Concerned Citizen on 03.03.22 at 8:37 am

European PPI reading this morning is over 30% YoY, and the MoM reading was over 5%. Looking increasingly more like hyperinflation with each passing day. And this isn’t a one-off due to Ukraine – it ‘s been skyrocketing even pre-Ukraine.

BTW, the ECB continues to print oodles of money, and even the most aggressive forecasters are predicting just a single token 0.25% increase by the end of the year. But hey, at least central banks take price stability seriously!

By the time central banks actually start doing their jobs in a serious way – if they ever do, which is highly doubtful – the price level will be over 100% higher than it is now (that is, if we’re lucky – it could go much higher). Those $2M crack shack teardowns will be going for $4M in a couple years. Homelessness is about to explode.

It was the best of times for rich people, and the worst of times for everyone else. Central bankers have forgotten they’re supposed to serve the interests of broader society, not protect wealthy people’s portfolios at the expense of crushing inflation.

#177 IHCTD9 on 03.03.22 at 9:23 am

1.66/litre in town this am.

1.48 on the Rez.

#178 Millmech on 03.03.22 at 10:00 am

Sail Away
NPK.TO been acquiring this for a while, low price high return play.

#179 Dharma Bum on 03.03.22 at 10:07 am

All of these current events are very, very serious!

We must worry and fret about them all day, everyday, and make all of our decisions moving forward based on these recent happenings.

Oh, but wait….in one year from now, they will all be COMPLETELY forgotten and seem totally inconsequential.

However, there will be an entire NEW SET of dire, worrisome, and seriously disturbing occurrences which we will all be obsessing on and freaking out over, and making decisions based on, because, you know, this (insert time, year, decade, generation, era, epoch, etc.) is the worst ever in all of history, and the future looks grim, so let’s all panic.

And so it goes…

It’s great for the “news” biz, though.

#180 Love_The_Cottage on 03.03.22 at 10:16 am

That’s why, I think, when all is said and done, you can’t ignore the economy. Even as [the bank] fights inflation, that’s why I do think this is going to be a more truncated rate cycle than what’s been discounted in the markets right now,” David Rosenberg added

https://www.bnnbloomberg.ca/boc-will-have-to-kill-the-economy-to-crush-inflation-rosenberg-1.1731579

Exactly what I’ve been saying and some others here in the steerage section. Will rates go up? Yes. It there a limit to how much because it will kill the economy? Also yes.

#181 DON on 03.03.22 at 10:24 am

@BillyBob

“Are you saying that if the Russkies make it to Prague they’ll stop before heading to Vienna? Good to know. Thing is, I’d fight for the Czechs long before I’d lift a finger to defend Trudeau’s Canada. CZ actually seems like a place worth fighting for. Not to mention it’s my home. :-)”

Well there it is. You opened your mouth again and confirmed it! Try using you full brain…just not the right political side.

#182 IHCTD9 on 03.03.22 at 10:27 am

Men are simple. They get mad, step out for a fist fight, then go for beers.

Women are complex. They get mad, then start a cold war that lasts till death. : )

#183 Victor Maitland on 03.03.22 at 10:27 am

@#157 Barb, “Women have no time for nonsense and posturing”????? Have you seen Trudeau’s Cabinet lately? Or any time? Nonsense and posturing is exactly what that statement is.

@#164 Diamond Dog, Thatcher didn’t start the Falkland Islands war, Argentina did when they invaded a British territory inhabited by British subjects (for 90 years). Thatcher did finish it though, in convincing fashion.

#184 Victor Maitland on 03.03.22 at 10:33 am

Damn, forgot to mention this: Margaret and Denis Thatcher had two children, twins Carol and Mark, born in 1953. Honestly Diamond, before you quote someone’s clever comeback, maybe you should try a bit of Googling to ascertain that it is, in fact, clever.

#185 DON on 03.03.22 at 10:46 am

#138 crowdedelevatorfartz on 03.02.22 at 8:12 pm
@#130 Ponzies Positivity Prevails
“I would worry more about the battery burning up your precious toy”

++++

Grumpy McGrumpster rides again.
Ponzie’s perpetual poo pooing never ceases to amaze.
Parents hide your toys or you never got any?

A song just for you Ponzie.

https://www.youtube.com/watch?v=SJUhlRoBL8M

*********

How long do the batteries last (how much do they cost) and how do we recycle them? Curious! Will electricity prices jump…

#186 Glory to Ukraine on 03.03.22 at 10:52 am

160 Mike on 03.03.22 at 12:17 am
The Zelensky regime is handing out fully automatic weapons by the truckload to anyone willing to scavenge them from the ground:

https://twitter.com/ScarecrowShane/status/1498186131497979904

This kind of criminality and militarization of the civilian population I believe was last seen in the dying days of the Third Reich in 1945. There are already reports of marauding armed gangs and scores being settled.

Those of you that jumped on the FREEDUMB TO YOOKRAINE bandwagon are going to probably have to start sanitizing your Twitter and Facebook postings when the full picture emerges and the narrative changes.

——————————————————————————————

The true story will bring to light the troll farm you live on. When we set it on fire, like the trash for incineration that it is.

#187 Ponzius Pilatus on 03.03.22 at 10:58 am

169 BillyBob on 03.03.22 at 6:42 am
#61 Ponzius Pilatus on 03.02.22 at 2:53 pm
Sure, it’s a beautiful place.
But so are many other cities on this planet.
Beauty is in the eye of the beholder.
Enjoy it.
But just have your packs ready to jump on a train to Vienna or Berlin before only real old people and kids are allowed to leave.
=======================================
Well, I do agree that beauty is subjective. I don’t know anyone who would trade Salzburg for Surrey and think it an upgrade but to each their own lol.
Are you saying that if the Russkies make it to Prague they’ll stop before heading to Vienna? Good to know. Thing is, I’d fight for the Czechs long before I’d lift a finger to defend Trudeau’s Canada. CZ actually seems like a place worth fighting for. Not to mention it’s my home. :-)
———————————————
Putin always had a soft spot for Austria
He loves the Dirndels.
I’m sure he’ll spare them

Austrian ex-foreign minister in Putin wedding row set for …https://www.bbc.com › news › world-europe-56280898

#188 Islanddave on 03.03.22 at 10:59 am

And let’s not leave out Catherine the great, I will admit I’m not sure if she was or wasn’t a grandmother

#189 don't poke the bear on 03.03.22 at 11:04 am

Not every recession is led by a 50% rise in crude.

But every 50% rise in crude has led a recession

we’ve hit that mark. welcome to the 70’s and the new cold war

#190 DON on 03.03.22 at 11:08 am

#126 pPrasseur on 03.02.22 at 6:59 pm
#118 Nonplused

Ukraine is a local problem and Russia is going to manage it how they see fit

Hardly local in its impacts and reactions and Russia is in way over its head on this one. Not going to end well for them.

The big winner of this whole thing seems to be China over the medium term.

China is having its own economic meltdown as we speak in the form of their giant Ponzi RE bubble on the brink of collapse and western companies relocating in droves. Surely China is taking notes about the effects of sanctions on the Russian economy.

The sanctions will probably be a nothing burger.

Now that is just plain dumb!

You’re wrong on just about everything, congratulations!

???‽????????????

Every economy is and will be affected by the sanctions. Even the US warned its citizens that pain eill be coming.

Russia and China have alternatives to the SWIFT system. Part of China’s economic woes were created by ‘equitable distribution’ push. Even the communists know there is a line in the sand when it comes to people having had enough.

All this information is readily available…or you can keep on screaming…’nobody saw it coming’. Or call your opponent a communist sympathizer for seeking the real truth of the matter.

I am starting to get you confused with the rantings of Pierre P.

#191 DON on 03.03.22 at 11:14 am

#141 Ponzius Pilatus on 03.02.22 at 8:32 pm
#128 pPrasseur on 03.02.22 at 7:20 pm
If you think sanctions are not so bad and Russia will somehow get by, ponder this:

Every phone, computer and tablet in Russia is either American or at least run on operating system made by American companies.

Already Google Pay and Apple Wallet don’t work there any more, big lineups at Moscow metro stations, you don’t think that’s the worse they can do do you?

This is no longer the KGB era where you need to physically arrest people, this is the zoom era, where you can shutdown a whole country (or like our dear PM freeze bank accounts of people you don’t like) from the comfort of your office!

………….

Where are most American computers…tablets and phones made? People don’t need apps to function. You will be paying more for these products not made in America. Apple is releasing it’s new ‘think for yourself’ app tomorrow.

#192 Quintilian on 03.03.22 at 11:20 am

#176 Concerned Citizen on 03.03.22 at 8:37 am
“Central bankers have forgotten they’re supposed to serve the interests of broader society, not protect wealthy people’s portfolios at the expense of crushing inflation.”

Concerned, Central Bankers are for the most part academics with huge blind spots, which serves them well to acquiesce to their political masters.

Garth:
You financial planners also have blind spots.

Go to any industrial park in Markam, get out of your car, and talk to business owners who actually make widgets consisting of metal, rubber and wood, and ask them what they think the real inflation number is.

#193 willworkforpickles on 03.03.22 at 11:31 am

The Government and The Fed are hiding behind a smokescreen of lies that are growing worse each year.

Small business operators struggling badly are handed manipulated growth figures improperly rigged to skewed inflation numbers and wonder why it seams so very real as if we are going through a recession, when in real terms, covered up by the Government and the Fed …we are. Tell it to them.

The Fed hides the fact we are in recession in real terms with a made up and manipulated process of calculation they can pretend we aren’t with.
Covering up their own corruption.

Tell it any different to small business operators who know better as they close up for good.

Tell it any different to the average consumer who feels the squeeze at the cash register , the inflation rate is just 5 or 7.5 percent the Fed tells you it is, when it feels like 16 percent in real terms which it actually is.

The mainstream pseudo powers that be, swallow it up and lives by their every word.

And the sheeple can never quite get – why everything appears to be so much worse than what overly optimistic mainstream thinkers project.

#194 Barb on 03.03.22 at 11:33 am

crowdedelevatorf…billybob

So some perfect worlds lack exceptions?

#195 All lies and manipulated on 03.03.22 at 12:19 pm

Were in a world of sh1t folks.
Inflation is actually 15% in real terms.
Just have to run through the headlines you don’t need the story.
and heeeeeere comes China!

——————————————
• Stocks rise as oil prices steady, investors monitor Russia-Ukraine. Read story
• Russian ruble falls to new lows after ratings downgrades. Read story
• Powell says rates are headed higher, even as Ukraine poses uncertainty. Read story
• Toronto home prices surge 28% in second hottest February n record for sales. Read story
• Leveraged Russian ETF closing due to plunge in Russian market. Read story
• China begins ‘sea scanning’ surrounding Taiwan amid growing fears of invasion. Read story
• Commodity prices soar to highest level since 2008 over Russia supply fears. Read story
• Europe natural gas futures rise to a record high as the market continues to focus on sanctions on Russia in response to its invasion of Ukraine. Read story
• German power price for next day jumps another 28%. Read story
• Russian oligarchs’ yachts seized in Europe, others harbouring in Maldives. Read story
• Majority of Canadians say they can no longer keep up with inflation. Read story
• 70% of Americans view US economy as ‘getting worse’:Gallup poll. Read story
• Melinda Gates slams Bill for continuing to meet ‘evil’ Jeffery Epstein. Read story

#196 drydock on 03.03.22 at 12:24 pm

#145 drydock on 03.02.22 at 12:38 am
Russia will never let this happen to them again.
https://youtu.be/6cdG9985zC4
Thats all you need to know.

@#145 drydock
Russia is the aggressor this time , not the victim.
Russia is invading Ukraine, not defending Ukraine.
Putin is a dictator like Hitler.
He will do anything to maintain power.
Like Hitler.
Democracies will support Ukraine.
We may ALL lose in an escalating nuclear war started by Putin.
Thats all you need to know.

OOH .
Did i hit a nerve.

#197 DON on 03.03.22 at 12:33 pm

#194 Barb on 03.03.22 at 11:33 am
crowdedelevatorf…billybob

So some perfect worlds lack exceptions?

*********
In the last while I have come across articles (forbes, fourtune, business insider) stating the impact of psychopaths etc at the helm of companies etc and the negative impacts felt.

Maybe we can land on thorough testing prior to handing over any reins of power to any nutbar.

#198 Russ on 03.03.22 at 12:35 pm

Barb on 03.03.22 at 11:33 am

crowdedelevatorf…billybob

So some perfect worlds lack exceptions?

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

In our misspent youth we thought the perfect world was being married to a big breasted blonde who owned a liquor store.

Being a perfect world it had no exceptions…

Cheers, R

#199 G on 03.03.22 at 12:41 pm

I just saw this about cost of houses in Ottawa/Canada.
On the house floor.

‘This is why I don’t pay taxes’ Canadian Girl, YT 3.5min
https://www.youtube.com/watch?v=BywXmxHdTBc

I was almost going to add a ‘clown’ comment but why bother. It with speak for it’s self.

Everyone needs to pay attention to what T2 WEF party is doing to our country.

See for yourself what the T2 government is ‘not’ working for you. Especially if you voted for them last time.
Will you be make the same mistake again with your vote?

FYI, Doing the same thing over and over thinking it will change the outcome is a sign you might want to be getting your self more informed and thinking a bit longer about it before doing the same thing with your vote yet again. Hopefully soon than later.

CBC and the likes, does not tell you what you ‘need to know’, just what they ‘want you to hear’. But I guess you’ll need to work that out for yourself after all.
IMO

#200 IHCTD9 on 03.03.22 at 12:52 pm

I damn sure would not want to Captain Her Majesty’s good ship “Canada” thru the next 2-3 years.

Just this week gas prices have gone berserk, my favorite wine went up *twice*, just got back from getting my regular lunch – it went up too.

It’s going to take a lot of hikes I think, and there will be collateral damage. It will be so regardless of where the rates go. Choose a dead economy, broke homeowners, bonkers inflation, or a dying loonie. Things are going to get *even more* expensive in Trudeau’s Canada.

#201 All lies and manipulated on 03.03.22 at 12:54 pm

191 Don.
Apple is releasing it’s new ‘think for yourself’ app tomorrow.

Lol many need that.
Get a dumb phone. All this tech has taken over peeps lives and their minds.
Especially the youth. All by design.
All the Alexa and crap in your private home….
God help the ignorate. Big techs got ya.
I spent 30 years in this arena. Now i cant stand what its become.

#202 BillyBob on 03.03.22 at 1:06 pm

#181 DON on 03.03.22 at 10:24 am
@BillyBob

“Are you saying that if the Russkies make it to Prague they’ll stop before heading to Vienna? Good to know. Thing is, I’d fight for the Czechs long before I’d lift a finger to defend Trudeau’s Canada. CZ actually seems like a place worth fighting for. Not to mention it’s my home. :-)”

Well there it is. You opened your mouth again and confirmed it! Try using you full brain…just not the right political side.

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

Yes, I do confirm I have more loyalty to my adopted country than the one of my birth. Whattaya know, me and Ponzi have something in common.

Well spotted, Don, keep up the good work! lol

#203 Ivan the Moderate on 03.03.22 at 1:22 pm

Last week Russian central bank doubled the rate as a result of sanctions.
As sanctions backfired, yesterday Canadian CB followed suite, also doubling it’s rate.

#204 Ponzius Pilatus on 03.03.22 at 1:25 pm

Glory to Ukraine!
Unfortunately, Russia has the Power.

#205 Ponzius Pilatus on 03.03.22 at 1:38 pm

Women leaders.
I give you Dr. Bonnie Henry.
Amazing Women, led BC steadfastly through the Pandemic, sticking to the science despite hate and even death threats.
I don’t use the word hero often, but she is a true one.

#206 Don Guillermo on 03.03.22 at 1:39 pm

#69 the Jaguar on 03.02.22 at 3:20 pm

Hey DonG! Who needs that Mazatlan mansion when I could just curl up with little Carlito in his doggie bed?
********************************
I know. It was intended for those poor slanty shack millionaires in the 604/416 areas. Charlie says hola!

#207 G on 03.03.22 at 1:41 pm

Hi Turner Nation,
Thought you might be interested, WEF related.
Not sure it’s for everyone, and her opinion could be incorrect after all.

Amazing Polly | ⁣MEGA BOOM! Schwab’s Global Shapers Network Exposed! Mar. 2, 2022 37min.
https://brandnewtube.com/watch/amazing-polly-mega-boom-schwab-039-s-global-shapers-network-exposed_V5F7JBcvFyg88Qh.html

#208 Outrage on 03.03.22 at 1:50 pm

Canadians will soon realize there is some evil in our CB and federal government to allow interest rates to be very low since 2009. I saw on Vancouver Island news that many middle class workers plan to buy and live in a van. My friend lives in Morelia Mexico and has a 2 bedroom furnished condo for $200. He lives on $500 cad a month.
I was living in Puerto Vallarta for $1200 for the last few months. $775 cad for rent and $300 for food.

#209 Damifino on 03.03.22 at 1:54 pm

#196 drydock

OOH . Did i hit a nerve.
———————

No. You simply posted an irrelevant link.

#210 RichardTO on 03.03.22 at 2:06 pm

@Yookraine Guy

“The true story will bring to light the troll farm you live on. When we set it on fire, like the trash for incineration that it is.”

Are you disputing the facts of the recorded footage? Those are clearly crates with AK-74 rifles strewn about the ground being looted by civilians…

#211 DON on 03.03.22 at 2:19 pm

#202 BillyBob on 03.03.22 at 1:06 pm
#181 DON on 03.03.22 at 10:24 am
@BillyBob

“Are you saying that if the Russkies make it to Prague they’ll stop before heading to Vienna? Good to know. Thing is, I’d fight for the Czechs long before I’d lift a finger to defend Trudeau’s Canada. CZ actually seems like a place worth fighting for. Not to mention it’s my home. :-)”

Well there it is. You opened your mouth again and confirmed it! Try using you full brain…just not the right political side.

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

Yes, I do confirm I have more loyalty to my adopted country than the one of my birth. Whattaya know, me and Ponzi have something in common.

Well spotted, Don, keep up the good work! lol

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

Thanks for being you BillyBoy.

Makes waking up in the am and playing ‘whack a mole’ a lot easier.

#212 DON on 03.03.22 at 2:28 pm

#201 All lies and manipulated on 03.03.22 at 12:54 pm
191 Don.
Apple is releasing it’s new ‘think for yourself’ app tomorrow.

Lol many need that.
Get a dumb phone. All this tech has taken over peeps lives and their minds.
Especially the youth. All by design.
All the Alexa and crap in your private home….
God help the ignorate. Big techs got ya.
I spent 30 years in this arena. Now i cant stand what its become.

*******

Yup…agreed. A friend used to watch tv in bed. Friend had a smart tv…then came the hacking link I forwarded to my friend. The look was well you know… and no further questions were asked.

hey…i was a little short with you a couple weeks back. Keep on keeping on bud.

#213 bdwy on 03.03.22 at 2:34 pm

2 questions

1.for the cowboys, (and some of the best are here)

brk.b : sell to get in lower after a very hot run or let it ride?

and

2. are wage and price controls still a thing?

#214 bdwy on 03.03.22 at 2:57 pm

and npk wowza! 325p/e is a bit rich for me though. still ripping

mosiac (MOS) been of fire too. ferts are the new crypto?

#215 DON on 03.03.22 at 2:58 pm

https://www.theprogress.com/news/record-number-of-new-listings-for-fraser-valley-real-estate-board-in-february/

#216 Brian on 03.03.22 at 3:16 pm

Are we starting to see the end of the petro dollar, aka the US dollar as the reserve currency?

Prince Mohammed, the de facto Saudi ruler widely known as MbS, suggested in separate but related remarks carried by the Saudi state news agency SPA that Riyadh could choose to reduce investments in the United States.

https://www.reuters.com/world/saudi-crown-prince-says-do-not-care-if-biden-misunderstands-him-atlantic-2022-03-03/

Jay Powell stating yesterday there can be multiple world reserve currencies

https://investcoinworldwide.com/index.php/2022/03/03/the-chairman-of-the-federal-reserve-claims-there-is-room-for-multiple-reserve-currencies/

#217 Greg on 03.03.22 at 3:26 pm

162 Ponzius Pilatus on 03.03.22 at 12:32 am

158 Greg on 03.02.22 at 11:07 pm
The Saudi oil bomb in 2020 came out of nowhere, tanked oil prices. Seems like that could happen again at anytime. What else would reverse the pain at the pump?
———————-
Pain at the pump?
Are we all becoming such wusses?
You probable were afraid of the needle, too.
——————-

Ponzi Fonzi,you could just answer my question without being a snarki barki. Would opening up the Keystone XL oil pipeline be part of that answer…The Saudis could once again send those filled to the rim with brim tankers to the east coast. As we witnessed, that move lowered prices quite fast.

#218 Bob Dog on 03.03.22 at 3:30 pm

Ya right.. Central banks blew it. Just like the other terrorists blew 9/11. Completely failed to achieve the goal.

#219 drydock on 03.03.22 at 3:48 pm

#209 Damifino on 03.03.22 at 1:54 pm
#196 drydock

OOH . Did i hit a nerve.
———————

No. You simply posted an irrelevant link.
……………………

Tell that to the 30 million dead Russians.

#220 Doug t on 03.03.22 at 3:49 pm

COVID IS SO YESTERDAY- This war stuff really took over quickly

#221 VladTor on 03.03.22 at 4:06 pm

to #163 Dr V on 03.03.22 at 12:35 am

…How do you think I became a Dr?

************
Very easy!
You just need to ask Mr. Garth to send you Diploma.

You will pay for delivery and blank Diploma.

Only one requirement – you need to be registered here 4 years for “Virus specialist” Diploma and 5 years for geopolitics Diploma.

#222 Sail Away on 03.03.22 at 4:23 pm

#213 bdwy on 03.03.22 at 2:34 pm
2 questions

1.for the cowboys, (and some of the best are here)

brk.b : sell to get in lower after a very hot run or let it ride?

——–

First of all, BRK is closer to an index than an individual stock. An index controlled by the world’s best investor, at that.

I never sell Berkshire, but do buy the dips. Over the last 12 years, this has worked out well.

Further, though: do you see any reason that Berkshire’s stock would decline from current levels? Good gains in and of themselves are never a reason to sell, unless there is some other fundamental weakness in the company.

#223 pPrasseur on 03.03.22 at 4:23 pm

Buffet famously said: “Only when the tide goes out do you discover who’s been swimming naked.”

Well I believe we are about to witness one of those moments. Bets are opened as to when exactly. Bets are also opened as to which country will be hit hardest by the global recession ahead!

Biggest loser is obviously Russia, which is already off the chart “naked”.

Second biggest loser is IMO China, financial/economic situation there is already precarious to say the least and a world recession would likely provoke a financial and economic meltdown of epic proportions.

Then Europe will be severely impacted, the devil of mass unemployment will be back.

The US will see a recession, but will be the least impacted this time. The correction following 2008 did a lot of good and US households are in a pretty strong position.

In other words reversed order than 2008…

As for Canada? IMO as bad as China because our own RE bubble will finally pop, fitting since we have a PM who apparently admires the Chinese dictatorship.

#224 jess on 03.03.22 at 5:37 pm

Catherine the great at least she vaccinated herself!

Catherine the Great Letter Extolling the Virtues of Vaccination Is Up for Auction

The Russian empress, who was inoculated against smallpox in 1768, was an early proponent of the practice
Livia Gershon

Daily Correspondent
November 24, 2021

#225 jess on 03.03.22 at 5:40 pm

The findings stem from work by a team of scientists who collaborated to analyze samples taken from hundreds of deer killed by hunters in the fall of 2021 in southwestern Ontario.

In their analysis, scientists discovered a highly divergent lineage of SARS-CoV-2 — which essentially means a cluster of the virus with a lot of mutations.

Around the same time, a genetically similar version of the virus was identified in a person from the same region of Ontario who had recently been in contact with deer.

#226 FLHTK on 03.03.22 at 8:08 pm

I think we’re heading for a recession. Gases the truck up today with regular cost $185. It won’t take long before people choose food to feed their families over gas!

#227 Jughead on 03.04.22 at 2:55 am

#174 Sail. Monkey see Monkey do baby. I’m with you. Take some let some ride . Àlthough I rarely sell it’s a good inside a tax free reg acct or TFSA to buy into another rocket. I’m like our banks and the growing consensus on splits. Shoot fish barrel.

#228 Chalkie on 03.04.22 at 8:59 am

Up up and Horray